., : . I 1 1
Jmintiw
Quotation Supplement (Monthly) Street Railway Supplement (^mam^^
Inveator^ Supplement (Quarterly) Stale and Cihj Supplement (^Amu^n^ [Entered aooordlng to Act of OonfrresB, In the year 1900, by the William B. Dasa OOKPAlfT, In the offlM of the Llbrarlui of OongreBa.]
VOL. 72. SATURDAY, FEBRUARY 16, 1901. NO. 18«0.
Wttt eruting February 9 OUaringt at— 1901. 1900. 1901. 1899 1898.
PUBLISHED WEEKLY. New York ,63O,»07,9eO 1.106,832.0701 133.486.098 78S 199,648 Philadelphia 84,8^,5!^9 B'*,7''6,iei 9*J,0I3 613 55,742.850 Termg of Subscription—Payable in Advance Pittsbar^ 8H,894.693 29,485 5x7 38,966.5(M 17,60 [.7b8 Baltimore 19,796 993 1^,910,581 lX,2Se.li51 16 862.191 For One Year $10 00 Buffalo 5.231,l(-3 4,b68,076i 4.918.135 4016.765 For Six Months 6 00 Washington. 8,l33,Cai 2.»)6O,310 2,3 19. .301 1 099,181 Eoropean Subscription (Inolnding postage) 13 00 Albany 8,112.612 2,961, H4 8.360,rX)0 European Subscription Six Months (Including postage) 7 50 Rochester 2,306.789 2,162,7881 8.4:-0 101 1.400.723 Syracuse l,Si88,767 1,25 i, 031 963.965 942.961 Annual Subscription In London (Inolndlng postage) <2 14b Scranton. 1,018,924 &9t.786l 7tJ6,ttl9 690.688 BlxMos. do. do. do. Al lis. WllmlnKton 1,025,137 889.0S0 808.241 785.808 Blntcbamton 8«8,H00 429.600 82rf.700| 894.000 Above subscription Includes— Chester 245,081 253.*!- 300.0001 Thb Quotation supplement 8TKEET Railway Supplement Total Middle 1.801.852,197 1,261,341,876 l,299,»i7,i«j! THB INVE8TOE8' SUPPLBMBNT State and City Supplement &25.680,441 Boston 128,189.251 137,20S.331 130 100,416 110 331,883
Terms ot Adyertlsing—(Per Inch Space.) Providence , 6,460900 6,378,900 6,159,600 5.3U,6C0 Hartford 2.392,516 2.557.226 2.603,763 1,'-0Q,109 Transient matter $4 20 Three Months (13 times) .$29 00 New Haven 1,657.776 1.3«1,436 1,887.303 " 1,408,151 8TANDINO BUSINESS OAKDS. Six Months (26 ). . 50 00 Sprlnftfleld , 1891.813 1.493,845 1,565,02H 1,493.640 1.443,370 1,890. l^iO Two Months (8 times).. 22 00 Twelve Months (52 " ) . 87 00 Worcester 1,507,681 1,353,820 Portland , 1,054,831 976.744 1,700,784 1880.648 London Agents: Fall River 816.288 1,028,476 1,118,3^ 1.003459 Lowell 552.094 498,517 768.084 780,878 Messrs. Edwabds <6 Smith, 1 Drapers' Qardens, E. O., will take sub- New Bedford 4S8.796 469.867 727,283 878,867 sorlptionB and advertisements, and supply single copies of the paper Holyoke 3t».79a 826.457 800,000 at Is. each. Total NewBng.., U4.687.ai6 I43.393.5ZI 148,463,921 "188,093,353
WILI.IAITI B. DANA COmPANY, Pnbllsbers, Cblcafto , 125.792,260 130,817 812 118,430.023 94.021.800 Cincinnati 19,487,600 16,031,i:00 13.169.850 18 488,500 Pine Street, Corner of Pearl Street, Detroit 8.782,229 7.851,402 7,6Jo,67c 6.318.818 Post office Box 958. nevf tork. Cleveland 12,944,695 10,0u5 533 9,268.801 6,763.574 Milwaukee 6,960,62i 6,709.708 5.888,909 6 568.619 Colnmbns 6,200,000 4,765,600 4.537,100 4.676.8D0 Indianapolis 8,747.001 3.160,472 2.243.1>» 2.250,290 Peoria 2,500,000 2.278.6191 2,004,849 2.612 4;9 CLEARING H0U8E RETURNS. To.edo 2,116.626 8.088.445 1.636.223 1.695 864 Grand Rapids 1,500,001 l,16<,922l 875.858 837,784 The following table, made up by telegraph, etc., indicates Dayton 1,172,895 1.002,561 997.023 695.568 Bvansvllle 763,093 1.014.810 574.626 that the total bank clearings of all the clearing houses of the Youngstown 433.689 304.751 488 182 Si's 143 SprlneUeld, 111 641,898 886.4«8; 462.345 800.000 United States for the week ending to-day, Feb. 16, have LeziUKton 558,500 440,8301 3:16 435 807,109 Akron 656.700 436.0001 337.000 885 400 been $1,937,143,947, against $2,315,082,363 last week and Kalamazoo 313.874 405.400 831,617 828.899 Rockford 861,571 267.762 207.287 199.367 $1,551,507,493 the corresponding week of last year. SprinKlleld, Ohio... 806.160 310.167 278,455 808.918 Canton 293,960 233.988' 192,609 205.908 J ackson vllle. 111 ... 172.204 128,588; llO.COO cliabings. Week Ending February 16. Oulncy 316,071 280.0001 Bloomington. 2flfi.»33 li;8,919 Return* by Teleoravh. 1»01. 1900. P. Oent Tot. Mid. Weat'n. 195.920,775 188.301,229 169.891,736 189.609 itfU San Francisco 18.344,736 16879 750 16,114.808 14 829.746 New York.... «i,o Mes.ies $725,884,163 +43 8 Salt Lake city 3,161.419 1804,2361 1,936,363 1.441 038 Boston 113,76).8J7 103,763,413 +9 6 Portland 1.92l,18H 1.87.S.761 1.671,421 1,951.410 Los Angeles 2,628.034 2,032.664 1,684.062 Philadelphia. 66,849,133 64 273,243 +4-0 1,585,610 Seattle 1,973,698 1.981,142 1,406.872 1,800,000 Baltimore 1«,218,818 15,935,013 +14-3 Spokane 1,001,032 988,180 989.930 641,580 ChloaKO 10«,H80,806 102,059,606 +2 8 Tacoma. 1,413.378 939,082i 670,448 860.867 Helena 826,226 467,659 430.431 375.000 i St. Lonts 37,696,381 27,670.240 +36-4 Fargo 309.107 384,107 3i8.81« 214 635 New Orleans. 9,367,938 10,871,107 -141 Sioux Falls 163.914 165.275 102.868 109 853 Total PaolUo... 31,735,025 87,447,999 26.332,789 83 077,739 Seven cities, 6 days. Il,8e7,l80,518 $1,060,317,149 +82-1 Kansas City 14.0 -9.240 13,100.75: 9.693 489 10338 675 Other oittes, 6 days 819.961,«I8 194,246.189 +18 8 Minneapolis 9.899 631 9,848.374 8,444.124 6.888 607 Omaha 5 629,841 5,803.564 6,698,398 6.901.930 Total all cities, 6 days. tl,607.111.e29 $1,244,563,338 +391 St. Paul 4.548,727 3.980,093 8.896.2^ 8,019.561 8,662 688 411 cities, 1 day 380,002.018 366,944.165 +23-8 Denver «,716.«86 4,238,498 8.642,7^ St. Joseph 8.657,017 3,923,357 3,552,170 1.890.868 Des Moines 1,353 655 1.249.039 1.191.102 968 805 Total all cities for week. tl,887.U3,947 $1,561,507,193 +281 Davenport.. 1.160.000 600.000, 72J.494 768.855 Sloui City 1.120.356 977.719' 800.084 808.128 Topeka 1.085.887 685.701 476.968 613.784 The full details of clearings for the week covered by the Wichita 507,793 495,872 491,407 490,138 Fremont. ie2.:96 175.180: 139,057 114 181 above statement will be given next Saturday. We cannot, HastlnRS 166,000 160.0001 137.674 130 766 of course, furnish them to-day, bank clearings being made Tot. other West.. 47.676,33» 44.703,971 37,901 716 88,087.976 St. Lonis 88 698 232 81,783,093 88.033,387 88.203.699 up by the various clearing houses at noon on Saturday, and New Orleans 12.6i;B,860 13,051.15',) 9 061,869 11000 807 Louisville 9,2'»'«.f31 10,16S,093 7815,681 7.066,461 hence in the above the last twenty-four hours of the week Qalveston 8,938 500 8,>-6a.60O 8,684 300 3.884,290 Houston 4.102.500 8.991,431 8,187.916 S.1S9.478 have to be in all cases estimated,as we go to press Friday night. Savannah 4,963 663 5,64-',340 8,»67 352 8,478.147 Richmond 3.710 sm 8,750,000 3,713.840 8 680,232 We present below our usual detailed figures for the pre- Memphis 8,515.528 3,150,619 l,9S5.8rt5 3,605.343 vious week, Atlanta 8,488,872 2.133,086 1.608 834 1.617.408 covering the returns for the period end- Nashville. 1,608,366 1,665.868 1,187,644 1,874.817 ing with Saturday noon, Norfolk 1,353,225 1.717,696 964.932 011.003 February 9, and the results Antrnsta 1,55'<.589 1,474,883 808.504 801.637 e9l.»i8 610.335 for the corresponding week in 1900, 1899 and 1898 are KnorvlUe 660.204 641,494 Fort Worth 1,200,000 803,188 887.914 713 879 also given. In comparison with the preceding week Birmineham 1,050.COO 603.000 986 480 «7»774 Macon 980.000 816,000 690.000 683.000 there Is an increase In the aggregate exchanges of one Little Rook 565,073 485.210 347.848 876 696 Chattanootra 604,411 417,384 318.537 3JS.2T9 hundred and thirty-six million dollars, the gain at Jacksonville. 897,883 300,000 814.886 ies.5i4 New York Total Southern.. 98 310,802 88,603 898 68.716617 69 817 747 being one hundred and forty millions. 1.214778.448 Total all 1^816.082 1^751.790.991 1.750.196.986 36^ ' Contrasted with the week of 1900 the total for the Outside N. York. 684,084.413: '644.958.924 618.710,98?! 48.-<57i,B05 6T8 67f'l 15 811938 whole country shows a gain of 32-2 per cent. Com- Montreal 12,008 I'-SI 15 COS 027 13 Toronto 18,166 164 9,741.630 9!4S7.6-0 8 876 478 pared with the week of 1899 the current returns record Winnipeg 1.828 21W 1,847,838 1.719 5l>M 1.493.983 Halifax 1.500,000 1,681,688 1.371.177 1,903.003 an increase of 33-3 per cent, and the excess over 189S is 90-6 Hamilton 980.378 85S.268 714.134! 637.467 6910181 681.080 per cent. Outside of New York the increase over 1900 is 6-1 St. John 685.416 6311.719 Victoria 793,690 709 080 786.6061 per cent. The excess over 1899 reaches 11 "0 per cent, and Vancouver 715.607 778,780 _ 609.107. making cpmparison with 1898 the gain is seen to be 39-8 p. o. Total Canadft.... 30.617.781 31 15>*.795' '~8,-*.8M;4«8I 88.106.469 308 THE CHRONICLE. [Vol. LXill.
1900) to $258,435,164 (still far above any year except THE FINANCIAL SITUATION. the last two), all the money markets of Europe were The developments since our last have not been all greatly disturbed. that was expected, and yet renewed buoyancy and ac- tivity was experienced on the Stock Exchange yester- The admission of Mr. George Jay Gould to the day. A week ago it was assumed that what is called board of directors of the Denver & Eio Grande ER. the iron and steel deal would be fully organized and marks, it would seem, another step forward in the announced within a day or two. As we write, the development of the principle of the community arrangement has not been completed. At the same of ownership among our railroads. There have time there is no reason to suppose that any special been reports that the event indicated a change obstacle has been encountered. It hardly needs to be in the control of the road, but this is explicitly de- said that it is an extensive affair and the adjustment nied. President E. T. Jeffery, to whom the security of such numerous and in many respects diverse interests owners and the people of Colorado alike owe so much requires time. Of course until the end is reached the for the way he has managed this important property, assurance of success is wanting, and that affords the states that controlling interest in the company has not opportunity for all sorts of rumors and of them there been bought by any other system, nor has the Denver has been no lack. & Eio Grande's independence as a Colorado railway been in the slightest degree impaired by the changes Other than the foregoing, all the disclosures have which have occurred in the holdings of its securi- been favorable. The most noteworthy and sugges ties. The great prosperity of the State of Colorado tive is the trade statement for January which the and its large increase in the output of the precious Bureau of Statistics has made public. It shows a metals have attracted, he states, the attention total of merchandise exports reaching $136,317,354, of investors and capitalists, among them Mr. Gould. or an increase of $18,720,206 over January 1900, and The policy that has heretofore governed the Denver a favorable net merchandise balance of $67,217,160. & Eio Grande management will, he asserts, continue The merchandise exports in January were the largest not only in relation to the public and the State at for that month that they have ever been, and only in large, but with all connecting lines. It would four months—the last three months of 1900 and seem, therefore, that the entrance into the board of December 1898—has the present total been exceeded. Mr. Gould means the admission to representation in As to the net balance ($67,217,160), that also is very the directory of an important new interest. At the same considerably in excess of any previous January, time the fact should not be lost sight of that Mr. and only in six other months has it been Gould is the head of a prominent connecting sys- larger, three of which were the same last three tem. In this sense, the fact that he has months of 1900. Taking the whole trade—mer- acquired an interest in the Denver & Eio Grande chandise, gold and silver—the net favorable bal- must be accepted as meaning much—not merely ance is $72,898,512. It can cause no surprise that, that he believes in the future of the prop- concurrently with the issue of this trade statement erty but also in maintaining and strengthen- showing these phenomenally favorable results, ing the relations between the two systems. The in- the sales of exchange should have been large and terchange of traffic with each other's lines will not sterling should have declined. only be continued, but it will be increased wherever possible. Thus the Denver road will gain and the Our annual gold production article will be found Missouri Pacific will gain. In other words, the ar- to-day on pages 313 to 317. We refer to it here because rangement will be mutually advantageous, while the present situation of that metal helps the observer, being an additional safeguard against the disturbance through the latest facts there shown, to get a fuller of peace among the railroads in that part of the and more exact idea than at any time heretofore has country. been possible of the changes that have taken place in the world's needs for that metal. We give in Iron production is again increasing very rapidly, the article a little table which shows that in and at the same time stocks are contracting, so that the five year period 1881-1885 the total product the situation of this great industry seems to be of gold averaged $101,571,919 a year; that in getting very satisfactory. According to the statistics 1886-1890 it averaged $109,991,225; that in 1891- compiled by the ''Iron Age" of this city, there was a 1895 it averaged $162,523,833, and in 1896-1900 net addition to the number of furnaces in blast dur- it averaged $260,639,340. In other words, taking the ing the month of January of no less than 38, with an whole twenty years, the average production during increase in the output of iron of 27,907 tons per week. the last five compared with the first five increased Since the 1st of November 70 furnaces have gone over 156| per cent; and even comparing the last five into blast, that is, the number of active furnaces years (1896-1900) with the previous five (1891-1895), has risen from 201 to 271 tons. In the same time the the average production is found to have increased output per week has gone up from 215,304 tons to over 60 per cent. Or again, perhaps if we take (from 278,258. This is an increase at the rate of 3^ mil- the larger compilation also given in the article referred lion tons per annum, bringing the output up to over to) the annual yield, the growth will appear more fourteen million tons per year. Notwithstanding the striking. For instance, in 1891 the production great addition to the weekly capacity, the production was $129,947,793; in 1896 it was $202,998,626, and in is still below the maximum attained the first half of 1899 it reached $314,630,233. Now, the point we want last year; for instance, on June 1 1900 293 furnaces to emphasize is that after this immense expansion in were reported in operation with a capacity of production, particularly during the nine years from 296,376 tons, as against 271 furnaces now, with a 1891 to 1899, inclusive, the world's wants had so far capacity of 278,258 tons. The situation at this expanded that when the product declined (as it did in earlier period however was wholly different FeBRUARY 16 1901.J THE CHRONICLE 309 from that at present. Then the lar^e output was cent for four to six months on good mixed Stock Ex- accompanied by augmenting stocks ; now stocks are change collateral. The demand for commercial paper falling off. The " Iron Age " reports the total of is in excess of the supply. One reason assigned for furnaces' stocks sold and unsold on February 1 as the comparatively limited offerings is that, as a rule, 656,764 tons, against 558,663 tons January 1, 641,466 collections are excellent, and hence merchants are tons November 1 and 670,531 tons October 1. This is light borrowers. Rates are 3^@4 per cent for sixty to the most gratifying feature in the statistics, namely ninety- day endorsed bills receivable, 4@41 per cent the indication that consumers in their requirements for prime and 5@5^ per cent for good four to six are keeping fully apace with the enlarging produc- months' single names. tion.
The Bank of England minimum rate of discount Official rates of discount at the chief European remains unchanged at 4^ per cent. The cable reports centres remain unchanged and open market rates discounts of sixty to ninety day bank bills in Lon- are easy. It is reported that £1,000,000 gold has don 3|@3| per cent. The open market rate at Paris been transferred from Russia to Paris and London is 2^@2i} per cent and at Berlin and Frankfort it is and also that there is a general expectation that the 3i@3| per cent. According to our special cable from Bank of England minimum rate of discount will be London, the Bank of England gained £957,951 bul- reduced to 4 per cent next week. The financial lion during the week and held £33,585,436 at the event in Great Britain this week was the closing on close of the week. Our correspondent further ad- Wednesday of tenders for £11,000,000 Exchequer vises us that the gain was due to the import of £466,- bonds, applications for which to the amount of £35,- 000 (of which £328,000 were bought in the open mar- 000,000 were received, ranging in price from 93 per ket, £120,000 were imported from Egypt and £18,000 cent to par. Applicants at £97 2s. were allotted 83 from other countries), to receipts of £533,000 net per cent. It is reported that a New York bid for from the interior of Great Britain and £40,000 ex- £1,000,000 at 96J was made. Last week's bank state- ported to Roumania. ment was notable for a further expansion of loans and deposits, the increase in the former being 833,481,- Though the foreign exchange market was strong 200, following a gain of 130,440,900 in the previous early in the week, it was decidedly lower after Wednes- week, while the deposits were augmented by $34,676,- day. The strong tone on Monday was moat noticeable 400, making $57,170,900 for the fortnight. The in cables, which were in demand for the semi-monthly deposits now are only $5,406,100 ^below the billion- dol- settlement in London, while sight sterling was in re- lar mark. The rise in these items has been contin- quest for remittance for securities sold for European uous since December 23, the loans gaining $108,190,- account, and long sterling was influenced in the 700 and the deposits $155,789,500. While there was direction of higher rates by easy discounts in a gain of $3,065,400 in specie shown by last week's London. The ending of the settlement af- statement, making an increase of $36,894,400 since fected cables on Wednesday, offerings of run- December 22, there was a loss of $1,372,500 in legal ning off bills caused a decline in short sterling, tenders, making a net gain of $12,963,600 in the and liberal selling of long sterling by bankers made seven weeks. The surplus reserve was reduced last this class of bills weak. In addition to these special week by $4,476,200, to $20,362,625. The expansion influences the demand was small and the tendency in loans was largely due, as was the case in the pre. of the market was downward for the remainder of the vious week, to borrowings in connection with the week. Commercial bills were in fairly good supply recent railroad deals. The Central Pacific Railroad on Monday, but the offerings were limited after Wed- Company on Friday last anticipated the payment to nesday. Gold received at the Custom House for the the Government of the sixth of the notes given on week, $13,705. The Assay Office paid $531,280 94 account of its bonded indebtedness to the United for domestic bullion. States, which obligation was not payable until Febru Nominal rates for sight exchange were reduced ary 1 1902. The amount was $2,942,000 and the during the week from 4 89 to 4 Rates for actual check passed through the New York Clearing 88J. business opened on Monday at an advance of half a House on Saturday last. This payment will have cent for long, compared with those at the close on an adverse influence upon the bank statement this Friday of last week, to 4 @4 85, while rates for week. 84f short sterling and for cables were one- quarter of a cent higher at 4 88@4 88^ for the former and 4 88|@ Money on call, representing bankers' balances, has 4 89 for the latter, and the market was quite strong. loaned at the Stock Exchange during the week at 2i Tuesday was a holiday. Ou Wednesday the tone per cent and at 1^ per cent, averaging 2 per cent. was easy, and rates for actual business declined one- The Exchange was closed on Tuesday. On Monday quarter of a cent all around, to 4 84ii@4 84J for long, and on Wednesday loans were made at 2^ per cent 4 87f@4 88 for short and 4 88i@4 88f for cables. On and at If per cent, with the bulk of the business at Thursday the market was decidedly weak, though it 2 per cent. On Thursday the transactions were at 2 closed with a steadier tone, and rates for actual bnai- per cent and at 1^ per cent, with the majority at 2 ness were half a cent lower for long, at 4 S4@4 84^, per cent. On Friday loans were at 2 per cent and while those for short and for cables were reduced one- at If per cent, with the bulk of the busi- quarter of a cent, to 4 87^@4 87i for the former and was ness at 2 per cent. Banks and trust companies to 4 88i@4 88i for the latter. The market have loaned at 3 per cent as the minimum. easy on Friday, though long sterling was one- Though the offerings on money on time have quarter of a cent higher. The following shows been liberal, rates are more firmly held. Quotations daily posted rates for exchange by some of the lead- are 3^ per cent for thirty to ninety days and 3|@4 per ing drawers. 310 THE CHRONICLE. [Vol. LXXII.
FBI.. MON.. Tubs.. WlD.. THPB., FBI.. Passing that, however, it is well to remember, as a Feb. 8. Feb. 11. Feb. .12, Feb. 13. Feb. 14. Feb. 16. modifying and encouraging circumstance, that a de- 86 85 1 60 days. 4 86 'mT Brown Bros 89 884 £84 } Sight.... 4 88« bO crease in the surplus reserve which is attended by an 864 854 BarloK. 5 60 days, 4 85« 86« 85« MaRonn & Co., {Sight„.. 480 89 89 884 884 increase in the banks' cash, and is produced through 86 86 Bivnk British 1 60 days. 4 86 85 85 3 No. Amerlo&,.c {siBht..., 4 86« 89 89 884 684 an expansion in loans and deposits, is not so menacing 85 86 Bank of 1 60 days, 485 85 85 Montreal {sight.... 4 89 89 o 89 684 884 a movement as a decrease in reserve accompanying a 60 days. 4 854 85« 85 85 Canadian Bank 5 86« loss of cash. For instance, although deposits and of Commeroe., } Sight.... 489 89 o 89 884 884 lok 60 days, 4 86« w 85 85 86 Heldelb'aoh. 5 86K loans were actually larger last Saturday than at any elheimer & COc {sight.... 4 88i4 89 884 884 884 (60 days, 4 86^ 85^ 854 E54 854 IjatardFrerei..' previous report of our Clearing House Banks, they are {sight,... 4 88^ 88X 884 884 Merohanta' Bk. (60 days 4 85« 86« 854 85 86 not even now so much in excess of the figures for of Canada {sight... 4 89 89 SO 884 f84 Sept. 15 1900, when the deposits were 1907,344,900 The market closed at 4 84^ for long, 4 87^ 84i@4 and loans were $825,830,600, as to cause uneasiness, @4 for short and 4 88i@4 88^ for cables. 87f because on the occasion in September a flow of cur- Commercial on banks 4 83i@4 84 and documents rency to the interior was in progress, and that date for payment 4 83i@4 84. Cotton for payment, was about the time of the beginning of the ordinary 4 83^, cotton for acceptance 4 83f@4 84 and 83i@4 period for the heaviest drain of currency to the grain for payment 4 83f@4 84. interior to move the crops. Now the movement of currency is still from the interior to New The following gives the week's movements of York, and from present appearances is likely to con- money to and from the interior by New York banks. tinue in that direction. Then again there is noth- Beeeived bv Shipped Net Interior WeOt Ending Feb. 16, 1901. 2>v ing of ill omen or inscrutable in the character of the N. T. Banks. N.T. Banks. Movement. additions that have been made to the item of loans. OnrrAnov...... ••••••>••• {5.220,000 1967,000 Gain. (4,253.000 Oold 2,434,000 194,000 Gain. 2,270 000 They have not arisen from a general inflation of cred-
Total gold and legal tenders 17,684,000 $1,161,000 Gain. »6,523,000 it, or from an advance in the prices of commodities, or from over-trading, nor are they evidence of any Result with Treasury operations : kind of weakness in business circles. If they had any Into Out Of Ifet Change in Week Endinn Feb. 15, 1801. such origin they would of course cause distrust and Banks. Banks. Bank fioltMttfi, loss of confidence. On the contrary the borrowings Banks interior moyement, as above 17,684,000 $1,161,000 Gain. $6,523,000 SBb-Treafiurv onerations 19,400,000 28,800,000 Loss. 2,900,000 can be chiefly traced to a few large recent transactions Total gold and legal tenders $27,084,000 $23,461,000 Gain. (3,628.000 and would be anywhere classed as gilt-edged. The only point that can be made against the sta- The following table indicates the amount of bullion bility and safety of the monetary situation is a too in the principal European banks. rapid conversion of floating capital into fixed forms, Feb. 14, 1001. Feb. 15, 19C0. which is of course always a possible outcome and aatik of Gold. aUver. Total, 0oUi. aUver. Total. especially when activity and buoyancy prevail. Did X X X X % t it however ever happen that such a process of conver- ngland 33,535.436 33.685,438 85,743,861 86,743,861 sion brought disaster when the operations were simply Trance 95.327.436 43,818,161 139,145,698 76,014,081 45,689,103 121.703.187 Germany..... 28,617,000 14.742,000 48,359,000 27.779,000 14,311,000 43.090,000 in the line of a wise movement for conserving of Bnssla 78.028,000 6,575,000 79.608,000 83,364,000 6,889.000 89,233,000 Ans.-Hang'y. 88,582.000 10,281,000 48,813.000 37,830.000 9,015,000 16.816,000 property already fixed? We showed last week Spain 14,001,000 16,468,000 30 469,000 13.600,000 14,743,000 28.843.000 that so far as this movement affected railroads Italy 16.678,000 1,859.000 17,432.000 15,412.000 1,506,000 16,918,000 Netherlands.. 5,030,000 5,658,000 10.688.000 6,067,000 6,971,000 11,038.000 and had hitherto been carried, it was in that direction Nat. Belg'm.. 2,983 000 1,492,000 4.476,000 2,972,000 1,486.000 4.458,000 and of that character. The above question is asked Tot.this week 3C 6.676.871 100893161 407,670.038 297,781,345 98,590,103 396,871,448 Tot. prey, w'k S05.831.920 100846161 408.678,081 297.750,962 98.892.311 306,018.273 merely as a suggestion; we do not intend or need to press the thought in full at this time. It has, though, a certain significance in connection with and BANK LOANS, SYNDICATE BORROWINGS is in a nature preliminary to a further inquiry. That AND THE MARKET. MONEY is to say, is not the current security movement, taken A good many people are just now solicitous with as a whole, and to which the above has reference, reference to the money market. There appears to be merely a duplication and substitution .'' Does it not no sufficient reason for their fears. We do not mean withdraw from the market substantially as large a that rates will not be steadier and higher ; indeed, a body of securities as it puts out? Is it not thus moderate rise would serve better to keep affairs in a powerless to convert into fixed capital any additional healthy state than extreme uninterrupted ease. Nor amount of loanable funds ? Furthermore, will it not do we mean -that buying railroads and industrials also increase the soundness and value of what it cannot be carried so far as to imperil the situation; withdraws, and so doubly insure the dividend quality nor that the Treasury Department may not absorb of the stock held by the trustee as security of the new enough money to work great harm. All we say is bonds put afloat ? that fit the moment nothing has happened or is im- What has been done is, we affirm, merely a duplica- minent to disturb confidence. So long as the public tion and when completed will substantially be a sub- permits the Sub-Treasury law to remain as it now is stitution of securities. For illustration take the and the Grovernment has a large surplus revenue, we transaction with Mr. Huntington's estate, which has are, as it were, all the time sleeping over a kind of received a large amount of floating capital for the volcano. But as the people make no effort to change stock it held in the Southern Pacific Railroad. That the law, they must like that situation. So we leave stock instead of becoming a factor in the money mar- the point with the simple remark that the Treasury ket is destined to go into a depository where it is to drain is the most threatening danger at the moment stay. It may be claimed that the estate held its observable, because it acts as an auxiliary to all other stock as an investment and that no part of it was possible causes of derangement and cannot be timed out as collateral. That may or may not be true. It or measured. is, however, a fair presumption that if we include all —
February 16, 1901.] THE CHEONICLE. 311 the purchases of Southern Pacific stock by the syn- the last instance of contraction in the capital of any dicate of capitalists who have made the purchases and of our Clearing House institutions was the Third Na- include all the bonds after they are offered and sold tional Bank, with one million dollars capital and that are to be issued to replace the purchase money, twenty per cent surplus, which in May 1897 passed it is, we think, fair to assume that the one in the par- over all its business to the National City. The Presi- ticular being discussed will offset the other; that is dent of the Third National stated on the occasion to say, just as much of one will be in bank as col- "that it was more profitable to go out of business lateral and no more after the transaction is closed as than to continue in business ;" the same week the was being thus carried or used in bank before the Clearing House reported net deposits of all the banks transaction was initiated. only $672,131,400. The aggregate of capital and But it may be asked, what then is the relative sit- surplus was at its lowest in this city in De- uation of floating capital as affected by these railroad cember 1897, when for three weeks the Clearing operations ? Surely no one can deny that loans have House reported the total of those two items at $132,- quite suddenly mounted up until they have reached 600,000. To-day the capital and surplus are $166,- abnormally high figures—is this to have no effect on 480,200 and deposits are very nearly $1,000,000,000. floating capital ? We answer that it certainly has an Those figures, by the way, represent but a fraction of effect; an effect which we see in the bank exhibits. the change which the era of emancipation (that is, of But so far as railroad transactions have developed relief from the fear of the instability of our currency and so far as they are reflected in the bank returns, standard) has made in the offerings of banking cap- the effect is temporary. In all that kind of operation ital in this city. But, limiting our remarks to the the bank is only the go-between. On the one side is Clearing House institutions, it is to be said that the the financial institution, on the other the highest stronger situation they hold is not by any means con- grade of a class of unexceptionable borrowers. As fined to the 25 per cent increase in capital and surplus the bonds which are to refund the purchase money since 1898 opened; it is to as great an extent in the are marketed and paid for, the loan item will be freed intimate connections our banks hold with the leading from the burden of the transaction and it will be European institutions and with banks and financial widely scattered among investors in the bonds. organizations all through the interior, which enable It may be of interest to carry this inquiry a little them to fortify themselves readily in case of any further. What we have said relates to the situation strain ; and, more than all, in the safer situation as it now is. Possibly the monetary conditions may of values, and hence of all business and all later become more suggestive of embarrassment. In loans in which they may be in any degree con- that case there are features in the make-up of the cerned. present bank situation which are decidedly reassur- We cannot go further in this discussion to-day. ing and will be of benefit to have in mind. Chief What we have said does not exhaust but really only among these is the fact that the relative position of opens a vast field for thought. The facts cited all our banks to day is far more favorable than any com- help to show that there is no reasonable ground for parison of total loans with similar returns in previous forebodings about the money market, either now or in years discloses. In using such a contrast, a correct prospect ; and that our banks have become within the judgment cannot be formed unless allowance be made past few years incomparably stronger than they were for the abnormally depressed state of affairs during in themselves, in the financial status of the country, those earlier years and the substantial reformation of and in their adjuncts. the money status since then. The danger our gold standard was in for twenty years so far involved the 7HE REVENUE REDUCTION BILL. Government Treasury, suppressed the energies of There are several reasons why the task of revenue our people, and prevented the free movement reconstruction, as presented to Congress at the begin- of capita], that there was not a time within that ning of the present session, has been perplexing. Not period when either people or capital had full swing. the least of these reasons was that no clear precedent To be sure, the hindrance to progress in those years existed to show how the matter should be dealt with. was partially removed from time to time by short, fit- It is not always a simple matter, after public revenue ful starts, or as the French might call them acc63, of has been enlarged through extra taxation to meet buoyancy; but they had a short run. After the Sil- the abnormal expenses of a war, for the Government ver-Purchase law of 1890 was passed there was an- to return to the previous basis of revenue. Very often other of those quickened movements, but the spurt it is the wiser policy to continue the greater part of lasted only about six months; it was followed by an the war taxation and use the surplus in extinguishing industrial depression which had no actual relief until the war debt. This plan was pursued deliberately the Congressional and Senatorial election in 1898 after the Civil War, in spite of the fact that taxes had was determined and the gold-standard legislation 'grown extremely onerous. In the fiscal year 1865, which followed was ensured. If this state of affairs for instance, ordinary public revenue was $322,031,- is overlooked the public, in making comparison to 000. The war ended before midsummer; yet in the day with former years, will interpret what is now fiscal year 1866 the Government's receipts were no transpiring as abnormal, and therefore as an un- less than $519,919,000. They were reduced only healthy expansion. to $462,846,000 in 1867, and it was not until 1874— A movement which makes this truth more obvious nine years after Appomattox—that the revenue fell is the preparation capital has been making during the below that of the last year of the war. Within this last two or three years for the new business era that period, however, the public debt was reduced nearly now exists. Prior to 1898 our Clearing House banks one hundred million dollara per annum, and at the were some of them reducing capital, others going out end of the decade following return of peace annual of business, and the new ones that did organize had interest charges had been cut down no less than thirty very small capital. If our memory serves us right. millions. bl2 THE CHRONICLE. [Vol. LXXII
This was one interesting precedent ; but there is annual requirement. Estimating last December for another modern instance even more strikingly in point. the next fiscal year, to which the pending tax amend- The enormous increase of Customs revenue during ments will apply, but reckoning on the basis of ex- the decade after 1880—a result, as is now well under- isting laws, Secretary Gage figured out a surplus of stood, of England's urgent search for an export mar- only $26,358,000—this again without charging up ket in that period—brought the surplus revenue well payments on the sinking fund. above the remarkable sum of $100,000,000 per annum. As for the chance of a change in revenue condi-
The public debt redeemable on call was wholly ex- tions, all that need be said is that Customs rev- tinguished, and to prevent the Treasury from absorb- enue is dependent on the volume of import trade, ing into its own vaults the greater part of the do- and that the tendency of that trade under pres- mestic circulation, the only recourse left was to bid ent conditions is to contract rather than expand, in outstanding bonds at whatever premium would without charging up sinking fund expenditure. The buy them. The available bonds being in the main margin for change on such a reckoning, it will be
those pledged as collateral for national bank circula- seen, is pretty small. The Secretary, it is true, iion, the redemption process canceled at the rate of figures expenditures only on the basis of what the de- twenty to forty millions per annum the national partments ask, and has expressed the hope that the bank currency, and it was plain to every one that it actual outlay will be smaller. And so it may be. could not go on indefinitely. The expenditures asked for for the fiscal year 1903 The history of the experiment in revenue revision exceed those actually made last year by the handsome which followed this period is well known. It pro- sum of 1100,000,000. But on the other hand it should vided a lesson in Governmant finance which no ad- be observed that the similar estimate made for 1900, ministration or Congress in its senses is likely ever to a year before-hand, exceeded by only ten million forget. On the one hand a Ways and Means Com- dollars the actual outlay of the year. Nor does there mittee struck at the sources of revenue; on the other appear to be any very striking tendency in this Con- the appropriation committees heaped up expenditure gress towards economy. as if an inexhaustible fund were at hand on which to There is this much of advantage over recent reve- draw. Neither committee paid attention to the work nue reduction bills in the measure now before Con- of the other, and the perfectly natural consequence of gress; that it affects only internal taxes, and hence is such haphazard legislation was that a su rplus rev- not subject to such violent over-estimates or under- enue of $105,000,000 in 1889 was replaced exactly estimates as are inevitable in revision of Customs five years later by a deficit of $69,000,000. Probably revenue. The wholesale blunders which marked the no one has forgotten the consequences which that revenue legislation of 1890 and 1894 will therefore deficit brought in its train. hardly be repeated. Moreover, no economic theory We have recalled these episodes in our previous affects the method of tax revision, as was the case in financial history because, in our judgment, they the two years named. It has been honestly recog- ought to be very steadfastly kept in mind while plans nized that the problem presented was to take off as for the reduction of the war taxes of 1898 are under many of the so-called war taxes as could be safely consideration. The machinery by which revenue and spared, to take off first those which were most bur- expenditure are fixed is the same as it was in 1890, densome, and in particular to repeal such taxes as had and that is as much as to say that it is very cumbrous turned out to be annoying without being largely pro- and awkward. There is now, as there was a decade ductive. ago, danger that the mere fact of an overflowing sur- On this basis of procedure both houses have already plus will lead to wanton extravagance in public ex- agreed on repealing such taxes as those on commer- penditure. There is also at least the possibility, cial brokers, on certificates of deposits, on telegraph which was a fact in the years after 1890, that the and telephone messages, on voting power of attorney trade conditions which produced the heavy revenue and on charter parties, no one of which has produced may be subject to change such^as will impair their pro- more than $800,000 annually, and most of which ductive powers and upset all estimates of future yielded barely one hundred thousand or so a-piece. yield. As for the first of these tendencies, it On the same basis of discrimination the tax on stock is not necessary to point to the huge appro- issues or transfers, which yielded last year nine mil- priation bills of the present session. The Treas- lion dollars; on bonds, which produced three millions, ury itself, little more than a year ago, while estimating and on legacies with some modifications, from which a steady increase of the annual revenue, neverthe- $2,800,000 was derived, are retained by both House less concluded that, on the basis of appropriations and Senate bills. asked for '* by the several executive departments and Where the distinction is not so obvious. House and offices," there would be left for the fiscal year 1901 a Senate have parted company on the question how far deficit of $18,000,000. If these plain intimations of the reduction shall be carried. The House bill cuts
the Treasury had been verified, it may be imagined sweepingly ; the Senate cautiously refrains from join- that Congress would hardly now be discussing a reve- ing in the reduction except where the reason is con- nue reduction bill. vincing. Thus the House bill cuts off the two-cent The revenue reduction bills of the House and the tax on bank checks, which yielded last year seven
Senate, which have now gone to a conference com- million dollars ; the Senate votes to retain it. The mittee, contemplate a redaction in annual revenue of House repeals and the Senate retains or only partially about forty million dollars. The surpl us of revenue reduces the taxes on bills of exchange, on insurance, over expenditure in the fiscal year 1900 was $79,527,- on conveyances, on passage tickets and on proprietary 000, and out of this surplus $56,544,000 was spent in medicines. Both bills reduce but neither repeals the redemption of Government bonds for the sinking beer tax, from which nearly $73,000,000 was earned fund, a charge which, though ignored on technical last year ; neither does more than slightly amend the grounds in the last few years, is nevertheless a valid tobacco tax ; both retain the tax on stock brokers. i —
February 16. 1901.1 THE CHRONICLE. 813
and while the Houae retains the heavy tax on bankers' in 1882. That year's result was the smallest
capital and aurplue, the Senate only reduces it one- half. of any year subsequent to the enlarged supply follow- These points of difference are far from irrecon- ing 1851. From 1882 the development was slow until cilable, and the conference committee ought to be 1889, when the yearly product began to increase more able to agree without great delay. On the whole rapidly. At first this increase was mainly due to a
the Senate bill appears to us the more reasonable and larger movement from Australia ; but from 1891 the prudent and the more discriminating in its method Transvaal also became an important factor, and after not an unusual difference, since on many similar oc- 1892 the growth in the output of the mines in the casions in the past the House, fresh from the people United States likewise added to the development. and anxious to make a showing agreeable to its con- The following is a brief preliminary summary con- stituents, has acted more from impulse than the densed from the fuller compilation given later in this slower and more deliberate Senate. The House bill, article, so as to show at a glance the course of the it must be remembered, would cut off, by the esti- movement at different dates in the world's gold sup-
mate, $40,821,000 of annual revenue, and this is a ply ; it is condensed by averaging the annual yield heavy enough reduction to make caution a virtue. every five years, beginning with 1851-55, and conclud- It is ten millions more than the figure suggested last ing with the latest similar cycle 1896-1900. We have December by Secretary Gage. also appended corresponding averages of the values of A halt in the heaping-up of public surplus is emi- the product in sterling and dollars to promote ease in nently desirable; such a movement might become following the changes. The highest and lowest and very dangerous in the present position of the finan- average prices of silver for the same periods complete cial markets; but the other extreme is equally to be this condensed record. avoided, and it is yet too early to say with certainty OOLD PEODHCT AVERAGED EVERT FIVE TEAB9 FROM 1851 TO 1900 INCLUSIVE. what the session's appropriations from the public . AveroQt, Averaye, Av/r.val. Aver. val. , •Silver prlc. ounces. sterling. dolUirs. HUjh. Low. Areraoe. purse will be. Some of them the Pension and River 5 years. — 1861-1855.... 6,873,064 £29,195,400 $142,078,004 62%d. 59%d. 61W... .1851 55 and Harbor bills, for instance promise so much ex- 1856-1860 ... P,548,755 27,817,800 135.37»,551 m%<\. 60^^d. 61Hd.... 1856-60 — 1861-1865.... 5,816,941 24,709,200 120,246,641 diH^. 60^4. ei^d.... 1861-66 travagance that Senators of both parties have uttered 1886-1870.... 0,132,296 26,048,761 126,765,576 63^(1. 60(1. 605^d.... 1866-70 public and forcible protests and warnings. In view 1871-1875.... 5,605,303 23,810,205 116.^71,703 61W. SSJ^d, 59d 1871-75 1876-1880.... 5,209,811 22,3'^6,103 108.936,479 .58)^(1. 4eJid. 52?
314 THE CHRONICLE. [Vol. LXXII. total world's new supply in 1900 is still in excess of The foregoing are the chief causes for the insuf- any year prior to 1898, even if we take in the entire ficiency in the annual new supply of gold to meet record back to 1851. The chief answer is that the current wants. They might all be summed up by needs for domestic use as currency and for interna- saying that modern commerce, domestic and inter- tional uses have in modern times greatly increased national, has shaped itself so that the work in progress and are increasing. Gold is often spoken of as if it calls for an increasing instead of a decreasing quan- had very little active work to do other than to meet tity. Of course, through a forced contraction of now and then an international demand to settle bal- business operations, these demands could be minim- ances between nations. Such statements belittle its ized, and will be lessened if the strain continues; how offices. Paying international balances is of course one far that suppression in business transactions is being of its duties. That is and always has been, and of enforced to-day we will not undertake to determine. necessity must always be, an imperative function. One fact is certain, and that is that European trade is Moreover, the requirements for that purpose have quieter than it was a year ago, and the presumption is during the last quarter of a century materially en- that the shortened gold supply is one among the larged. This we may assume is a development which causes for the quieter markets. naturally follows the growth in the quantity and ex- Below we give our general table of gold production tent of the transactions the external commerce in- in the world, adding returns for 1900, so far as we cludes. It is not only true that the leading nations have obtained them, with figures for all other pro- are interchanging commodities between themselves ducers made up more or less from estimates. In the more freely than formerly, but they are drawing large new form we have adopted for this general compilation quantities of products from the remotest parts of the the reader has a separate statement (in ounces) for the earth and sending supplies of their own make in re- output of each of the following sources of supply turn to the whole world of nations; and all this, we the United States, Australia, Africa, Russia, Canada repeat, is being done to an extent never before any- and Mexico. These are the leading producers, and where nearly equaled. the smaller ones are grouped in a single total. Fol- But besides this expansion in the needs for gold lowing the aggregate in ounces are the total values in promoting international commerce, there is a de- each year in pounds sterling and dollars. The prod- mand for domestic currency purposes which has uct for the Transvaal has been received by cable and become quite general and has had a rapid growth for was made up for us by the best authorities. It is given the last twenty years. Almost all the nations in the at 479,489 gross ounces, to which is added the results world are now on a gold basis or trying to get there, in the other mining sections of Africa, which are and a number are hoarding gold for the purpose. mostly official. A foot-note directs the reader to the That is one way in which the annual product is volume and page of the CnKONiCLE where can be being absorbed. Another more important cumulating found the annual returns for the years from 1881 to agency is the increased activity in the demand for 1871 and again those from 1871 to 1851. new supplies by the countries already on a gold GOLD.—PRODUCTION IN THE WORLD—OUNCES AND VALUES. lO -«SH CC CO CO W ^ CO « CO C6 •'i* M CO CO CO 00 CO 00 O ^ f TO Tj< iC '^ ^ 05 CD O -* CO 1-* C4 CO Tf rH t- OJ OS CT) CO CO 1-H 00 CO lO -* 0_ ?H T*<_ lO Oi ^- iH CO OJ O OS CO M rH basis. Each is enlarging its stock to meet the re- I ^; O O '^ ^' -^ '. CC t-" -h' CQ cT o o os" >* »o i> c-" o o oo" oo' CO o" ro" -*< -^ trj C 00 lO >0 in iH o i^ CO cc OS CO CO CD —« W OS 00 CO CO quirements its a> cs 00 i> Tj^ CTj -^ 00 W CO Ct CJ o c: »o CO o; lo OS CO l> CD •* of internal currency. For illustra- *" «' ** 00* 5 ^ £* Ci" O" rH CO l-^ rtT (O lO CO t-' OS* ^ Q O OS o o o O O O O 1-1 tH O CO 00 rH tO " 1— 1-1 1-1 •-( ( rH rH ift rH «H -H fH tn rH fH »-l iH (M CO W tration, Great Britain has in the last three years im- I™ N W
QO QO CO >0 to r^ t< OS 1H t- OO t^ »0 rH N CO OS M N r- CO ported £25,923,769, or over $125,000,000, of gold • rH O CD OS t- Trt rH iH ^ O CD lO CD lO t- r^ rH »0 CO 2» e* o rH « 00, O, * -H CD, N OS_ CD «> CO t- »0 CO flD, C^ •S ^ OS* w to' oT t* OS lO »o i-< of IN N \B OS eo » o oo' IN uj" o more it -* 05 -** «< C» 00 CO «o rH CD OS 00 rH 00 CO »0 O OS than has exported, and not only has all that -i- « OS O O co^ •*»*< t*^ C6 CD OS, t> t* in CD ^^ ^ *-l *. 00 (N OS 00 w t* o rH O" O" O" rH >-'' .H rt' Co' CO OS N CD o' CO -* CQf^ S' 1 "H^ djjfference gone into domestic use but the stock in N « N IM (y> N M N
•* »H lO 00 irt 03 C'5 CO - O M oj :} OS O CO to W CD N CO rf N the Bank of England has also lost from the same cause 00 03 O OS (M -^ »« CO e» CO N o rH t- ,H i> ® M 3 S 1> lO * CJ 00 IN »0 O C- CO "^ 00 co_ 00 . *
-* CO CO 05 00 00 'O CD — lO t* Russia was reported January 4 1900 at w N ^ ^00 ^ , « • l> £86,909,000 =3 S • • " • lO CD (M O rH r- «(N CO CO Ji O OS ©» O O ' - rH * b- 00 .2 S : : : : : t^ N O CO a rH W TO t- • 00* -*' S • * • • 00 o' co' oT ..- O .- 1/5 iC O* >ft « and on the 3d of January 1901 t+H ^ . • • • • at £73,739,000, show- « -r« CO t> ©» Id 00 CD iH »0 rH O CD CO CO "* l> rH CO rH rH 00 3:_ CO lO
The chief features of interest the foregoing reveals valued at $29,500,000, or an increase over the preced-
are (1) the diligence with which gold-mfining has been ing year of 170,142 ounces or $3,517,200. It is pushed in recent years, (3) the great success these furthermore worthy of note that its product for 1900 labors have met' with, and (3) the decided set-back was but little less than that of Westralia. The which has overtaken this industry in 1900. The set- decided growth anticipated in California has failed to back is noteworthy not alone because of the stoppage be realized, the 1900 out-turn having been 39,697 in the Transvaal, but, as already suggested, because ounces smaller than the 1899 product. Alaska, from it is so large elsewhere—Australia and Mexico whose mines but 122,137 ounces were secured in 1898,
being found in the column of decreases—and also contributed 375,922 ounces in 1900 ; during the same because of the suggestiveness of the concurrent de- period the South Dakota product rose from 275,723 cline in European trade. Had it not been for the ounces to 320,130 ounces, Utah's from 110,556 ounces continued and decided growth in the United States to 205,000 ounces, Arizona's from 119,249 ounces to and Canada, the check in production at so many points 169,312 ounces, Idaho's from 83,055 ounces to 100,000 would have developed into a more strained situa- ounces, Oregon's from 50,966 ounces|to 83,000 ounces, tion. As to the comparative production of the vari- and Xew Mexico's from 26,074 ounces to 43,538 ounces. ous sources of supply in 1900 and the future prospects Montana, which in 1899 reported a falling off in the of yield in each, so far as we have been able to procure yield of gold from 1898, made good the loss in 1900, the facts, they will be found in tne summaries immedi but the Nevada yield in the two years dropped from ately following. 144,859 ounces to 113,681 ounces, although^the 1900 United States. — Contrary to early expectations, production exhibited a slight increase over 1899. the United States has again assumed the foremost po- The wonderful progress in gold production in Col- sition among the gold producing countries of the orado is of course due chiefly to the development of world—a position it relinquished to Africa in 1897, the Cripple Creek fields. In 1891, when gold was being subsequently (in 1898) passed by Australia, first discovered there, the output of the district was through the phenomenal development in Westra- barely 10,000 ounces, or about $200,000; at the end lia. The regained ascendency of the United States, of a decade, in 1900, the yield had risen close to however, is not so much due to an increased output 1,100,000 ounces, or nearly $22,500,000. Develop- from its mines as to the almost total suspension of ment is still active, some new mines having recently operations in the Transvaal and a general reduction of been opened, and 1901 promises even better results the yield in the various Australasian colonies. At than those for the year just closed. The Leadville the same time the preliminary estimate of Mr. Geo. district is also making material additions to its pro- E. Roberts, Director of the Mint, indicates that there duction from year to year. The retrograde movement was a very satisfactory measure of growth in 1900. in gold-mining in California the past few years has According to that estimate the aggregate production been somewhat of a surprise, but according to good approximates 3,837,215 ounces valued at $79,322,281, authorities the reason for it is not far to seek. The against 3,437,210 ounces valued at $71,053,400 in rich finds, first in Colorado and later in Alaska, with- 1899, and 3,118,398 ounces valued at $64,463,000 in drew the money which was ready for mining ventures 1898. Mr. Valentine, of Wells, Fargo & Co., in his from the older field to the more promising States; so usual annual statement just issued, places the far is this true that even the funds needed for the product for 1900 at $75,756,173, which is equal to further development of existing properties was not 3,664,721 ounces; against $72,567,226, or 3,510,445 forthcoming. The current year, however, and in ounces, in 1899, and $66,486,202, or 3,216,275 ounces, fact from now on, improving returns are looked for in 1898. This year's figures of Wells, Fargo & Co. in consequence of the cheapening of production it will be noticed are $3,500,000, or 172,494 ounces through the more general use of oil for fuel and of elec- smaller than the Mint's preliminary estimate. Here- tricity for power. Moreover, much is expected from tofore since 1893 Mr. Valentine's computations have alluvial deposits. In Alaska mining may almost be
run the other way—that is, have been from $1,500,000 said to be in its infancy. Further discoveries in the to $6,300,000 in excess of the Mint's total. Two and one- Nome and adjoining districts give promise of excel- third million dollars of the difference in 1900 is found lent results. The past year mining in Alaska was ad- in the single State of Colorado. The ounces and versely affected by dry weather and yet the output values as given for each State by the Director of the increased over two and a quarter millions of dollars. A Mint are as follows, comparison being made with 1899 marked addition to the yield is expected in 1901 un- and 1898. less unfavorable climatic conditions are again experi- therefore, there seems to be good GOLD PBODCCTION IN UNITED STATES. enced. Altogether,
Gold- , 1898. > -1899.- -1900.- reason to expect as great an increase in the United Production. Fine ozs. Value. tine ozs. Value. Fine ozs. Value. Colorado States year over 1900 as that year exhib- 1 , 122,073 $23, 195,800 1,259,920 $25,982,800 1.427,063 $29,600.0l)0 the current California.... 756,483 15,637,900 736,194 15.197.800 695,497 14,377,200 ited over its immediate predecessor. So. Dakota... 275,733 5.699.700 312,962 6.460.600 330.130 6,617.674 Alaska 128,187 2.624,800 264.104 6.459.500 375,932 7,771.000 Africa. —From the leading position as a gold pro- Montana 248.014 5.126,900 230,270 4.760.100 248,000 5,126,616 has fallen back, temporarily of Utah 110.656 2,285.400 166.933 3.450,800 205.000 4,337,726 ducing country Africa Arizona 119.249 2.466,100 124.133 2.566,100 169.318 8.500.000 course, to a very inferior position. As is well known, Nevada 144,859 2,994,500 107.314 2.219,000 113,681 2,360,000 in Waho 88,055 1,716,900 91.389 1.829.000 100,000 2,067.183 this is a result of the war entirely. Operations Oregon 86.968 1.715,768 1,177,600 69.153 1,429.500 83,000 most of the mines of the Rand and contiguous Washington.. 87.065 768.200 38,166 685.400 40,000 896.873 New Mexico.. 26,074 639,000 33,358 584.100 43,538 900.000 districts of South Africa have been completely sus- Michigan 5 lOO 6 100 10 207 of the mines Sooth. States. 16,843 327,500 15,765 326.900 14.854 307,049 pended throughout the year. Some Other States. 296 6,100 1,036 33,808 1,209 21,992 have been partially worked, and from such returns as Totals.... 3,118.393 $64,463,000 3,437.310 8.337.215 $79,322,281 $71,053,400 we have been able to secure the subjoined estimate up. The feature of the foregoing is the further pheno- for 1900 in the Witwatersrand has been made left out menal development in Colorado. The output of the The total is so small that it might be mines of that State in 1900 reached 1,427,062 ounces of our compilation for the world without seriously ..
3iH THE CHRONICLE. [Vol. LXXII.
affecting the aggregate. But it furnishes a most im- AUSTRALA.SIA.—Retrogression in gold production pressive object lesson of how fully the most important was the rule in all the Australasian colonies in 1900, industry of the South African Republic was checked and as a result that country has, as already stated, by the conflict in progress there since September 1899. yielded up first position to the United States. New The results in the Rand by months for the six years mines have been opened in most quarters, but the ended with 1899 and our estimate for 1900 are now output therefrom has been more than offset by de- appended. creased returns from old workings. Westralia has ABOUT *3 lOS. WITWATER8RAND DISTRICT—OUNCES VALUED AT suffered least in ratio of falling off, the 1900 product Ounces. 1891. 1895. 1898. 1897. 1898. 1899. 1900, January 149,814 177,463 148.177 209,832 313,827 410.146"! having reached 1,580,950 gross ounces, against 1,643,- 211,000 297.876 404.336 Kebnmrj-.... 151,870 169,296 107,019 876 gross ounces in 1899. Surprisingly poor results Marcb 165.373 184,945 179,154 232,067 325,908 441,578 April 108,745 186,323 176,707 235,698 335,125 439,111 are shown by some of the mines in that colony, the May 169,774 194,581 195,008 248,305 344.160 441,933 June 168,102 200.942 193,641 251,529 344,670 445.763 .,„ .o„ Lake View mines turning out but about 90,000 ounces, .iro .,r. y 479,489 July 167,953 199,453 203.874 242.479 359,343 456,474 f against over 250,000 ounces in 1899 and the Asso- August 174,977 203,573 213.430 259,603 376,918 459,710 September.. 176,708 194,765 202.562 262,150 384,080 411,762 ciated Gold Mines gave but 34,300 ounces, against 199,891 274,175 400.791 19,906 October 173,379 192,652 120,000 Norember. 176,804 195,219 201,114 397,124 393,311 61,780 ounces. On the other hand such important
December . 182,101 178,429 201.315 310,717 419,504 73,670 I properties as the Golden Horseshoe and Great Totals... 2.034,103 2,277.641 2,280.892 3.034,679 4,295,007 4,069,169 479,489 Boulder Proprietary exhibit large gains. New South Similar conditions to those in the Rand proper have, Wales records the most marked loss, its product as intimated above, prevailed in the districts adjacent having dropped to 345,650 gross ounces from 509,418 thereto, cutting down seriously the output. Rhodesia, gross ounces in the previous year. Queensland re- however, which lies much to the north of the Trans- ports only a very moderate decline in yield, the losses vaal and outside of the war zone, has suffered no having been in great measure offset by better results interruption to operations, and the same is true of in the Mount Morgan mines, from which over 20 per Madagascar, West Coast districts, etc, where further cent of the colony's product is secured. The yield development is shown. There are no present indica- of all the colonies in 1900 was 3,764,548 fine ounces, tions that any such phenomenal results as the Band against 4,105,526 fine ounces in 1899 and 3,235,638 has furnished can be expected from the Rhodesian fine ounces in 1898. field, but a steady improvement in the yield is being Below we give tables indicating the product of each shown. Through the opening up of new leads the colony, the first table in gross ounces and the second product for 1900 rose to about 91,640 gross ounces as table in fine ounces. The figures are in a few cases compared with 65,303 gross ounces in 1899, the greater in part estimated, but are no doubt close approxima- part of the gain being furnished by the Globe & Phoenix tions. In obtaining the fine ounces 8 per cent has mine, which during the five months it has been worked been deducted for base metal in each year since 1894, has given 24,778 gross ounces. West Coast districts but for previous years the reduction is a trifle more, have added but slightly to the 1899 output, but in being estimated for each province on the basis of the Madagascar marked progress is making, although as official returns made to us. yet the yield is small. The districts outside of the PRODUCT OF GOLD IN AUSTRALASIAN COLONIES—GROSS OUNCES. Rand have collectively produced about 166,922 fine NewS: Queens- Western New South Tasma- Total Aut- Vrs. Victoria. tVales. land. AiLstralia. Zealand. nia. tralasia. or Australia, ounces, 138,862 fine ounces less than in 1899. The 1890. .588,560 127,460 610,587 34,209 193,193 24,831 20,510 1,599,850 following presents in fine ounces and values the devel- 1891. .576,399 153,335 561,641 30,311 251,996 28,700 48,769 1,851,161 1892. .054.450 158,870 605,612 59,548 237,392 38,974 43,278 1,796,180 opment from year to year since 1877 of gold produc- 1893. .671.126 179,288 616,940 110,890 236,811 33,820 37,687 1,876.562 tion in Africa. 1894. .673.680 324,787 675,000 207,131 221,533 35,844 57.873 2.195.848 1895. .740.086 360,165 631.682 231.513 293.491 47.343 54.904 3.869,244 AFRICA'S GOLD PRODUCTION—FINE OUNCES. 1896. .805.087 2^6,072 638.212 281,205 263,728 29,004 62,586 2.375,918 -Witwatersrand—^ <— Other- Total- 1897. .812,765 293,217 807.928 688.003 251.644 10.322 60,735 2.924,814 Year. Ounces. £ Ounces. Otmces. £ 1898. .837,258 341,722 918,100 1.050.182 280,17« 20.000 69.519 3.516.9«7 1887 (part year).... 28.754 122,140 2&.754 122,140 1899. .862.411 509.418 947.626 1.613.876 389,585 32.990 76,622 4,4«2.5a8 1888 190,266 808,210 50.000 212,390 240.266 1,020,000 1900. 315,653 *928,000 1889 316,023 1.342,404 50,000 212,390 368.023 1.554.794 .807.407 1.580,950 364,893 »25,000 *40,000 4,091,900 1890 407,750 1.732,041 71,552 303,939 479.302 2,035.980 • Estimated. 1891 600,860 2.552.333 127,052 539,691 727,912 3.092,024 1892 1,001,818 4.255.524 143,701 631,652 1,150,519 4,887,178 PRODUCT OF GOLD IN AUSTRALASIAN COLONIES-FINE OUNCES. 1893 1.221.151 5,187,206 159,977 679,550 1.381.128 5,860,756 Xew So. Queens- Western New South Tasma- lotal Aus- 1894 1,637,773 0,956,934 227,765 967,500 1.865,538 7.924.434 Trs. VictiyHa, Wales. land. Australia, Zealand, Australia, nia tralasia. 1895 ],845,1.S8 7.837.779 270,000 1,146,906 2,115,138 8.984,086 1890. .554,225 116,774 531,096 30,003 180,968 21.541 17.965 1,453,178 1896 1,857.071 7.888.465 293,035 1,244,755 2.150.106 9,133.220 1891. .530,287 141,069 616,710 27,886 231,837 26.404 44,497 1.518.690 1897 2,491,558 10..583.616 326,941 1,388,780 2,818,493 1I,9T2,39« 1892. .602,100 142,227 545,051 54,785 218,401 35,867 39,817 1,6S8,238 1898. 3,502,813 16.1-'*.115 341,908 l,4&a,354 3,901,721 1«,68<5.472 1899 3.360.091 14,273.018 305,784 1,298,909 3,665,875 15.671.927 1893. .612.467 163,571 562.049 101,132 206,862 30.844 34,377 1,711,892 1900 395,385 1.679,518 166.922 709,051 582,307 2,388,569 1894. .619.786 298,8J4 621,000 190,561 303,810 32.976 53.243 2,020,180 1895. .680.879 331,352 581,147 212,992 270,012 43.556 60.567 2,170.506 Total 18,916.445 80,353.803 2,539.637 10.787.870 21,456,082 91,141,173 1896. .740.680 272.386 587,155 258,764 242.634 26.684 57.579 2,185,872 This indicates that the entire production of the 1897. .747.744 268.840 743,294 633.515 231.512 9,197 55.876 2,690,278 1898. .770,277 314.385 814,652 968,187 257.762 18,400 African mines for the fourteen years since 68.995 3,236,fl33 the first 1899. .793,418 468,805 871.816 1.518.36S 358,418 30.351 70,462 4.106.526 opening was made has been 21,456,082 fine ounces, 1900. .742.816 817,998 868,760 1.464.474 335.701 23,000 86.800 3.764.648 valued at £91,141,173. The recent activity of the Canada.—As a result of a gain of some 226,000 Boers does not promise a speedy cessation of hostili- fine ounces, bringing up its output in 1900 to 1,257,- ties, and until peace is concluded not much improve- 752 ounces, valued at $26,000,000, Canada has been ment in the working of the Transvaal mines is looked able to pass Russia as a gold -producing territory, and for. Reports during the year, from time to time, now stands fourth among the countries of the world. indicated that generally the mines were in good con- Most of the increase comes from the Yukon or Klon- dition, very little damage to machinery, &c., having dike district, but a fair measure of addition is shown been done. But a mining engineer who returned to by the returns for British Columbia, Kova Scotia, Cape Town from Johannesburg late in July reported &c. We say that Canada now occupies fourth posi- that fully six months would elapse before the mines tion; in reality that country is at present third would be in full working order. At that time the out- in consequence of the meagre yield from the look for peace was somewhat more favorable than at South African mines. But as the conditions which present, and his report was evidently based upon the produced the disappointing result in Africa are ab- idea that the war was over. normal and temporary, and as a decided change in 2
February 16, 1901.] THE CHRONICLE. 317
those results is sure to occur as soon as'the war closes, degree than in recent years. Mr. Roberts's (Director
Canada is not likely to hold the third position long. of the Mint) estimate indicates that the United At the same time, with the rapid increase in the States increased its contribution to the world's supply Klondike and the evident fact that the limit of pro- by nearly 5,000,000 ounces in 1900. Our latest advices duction has by no means been reached in the ex- from Australasia denote that from that quarter the 1899 treme Northwest, where development is constant and output was exceeded to the extent of about 1,000,000 rapid, it would be unsafe to predict what will be ounces. On the other hand the Mexican yield as well Canada's future as a gold producer. The results for as the aggregate included under the head of "All the whole of Canada for the last nine years in fine other Countries " would seem to have undergone little ounces and values are as follows. For the estimate or no change. On the basis of those statements the for 1900 we are indebted to Mr. G. M. Dawson, Direc- 1900 result would therefore be the heaviest in the tor of the Geological Survey of Canada. history of silver-mining. We give below a statement
Values. Ounees, covering each year since 1891. See Chronicle of Canada's production in 1892 $907,600 43,903 Feb. 11 1899, page 258, for figures back to 1871. Canada's " 1893 927,200 44,853 Canada's " 1894 1,042,100 50,411 SI liVER.—WORLD'S PRODUCTION IN OUNCES AND STBRLING. Canada's " 1895 1,910,900 92,440 Dnlted All Other ToUl Canada's " 1896 2,817,000 136,274 Pine States. Mexico. Anstralla. Producers. Total. Valaea. Ounces. Ouvcen. Ounces. Ounces. Ounces. Ounces. £+ Canada's " 1897 6,089,500 294,582 1891 ... 68.330.000 35.719.237 10.000.000 33.916.175 137,965.412 25,900.278 Canada's " 1898 13,838,700 663,445 1892 ... 63,500,000 39.5Ot.800 1.3.439.011 36.4»6,175 152.939.986 20.370.518 -Canada's " 1899 21,324,300 1,031,563 1893 ... 60.000,000 44.370.717 20,601.497 41,228,063 166,100.277 21,655,510 " Canada's 1900 26,000,000 1,257.752 1894 ... 49,500,000 47,038,:i81 18.073.440 53.140.e96 167.752,517 20.826.410
1895 .. 65,726.945 46,962.73'' 12..507,335 53,»88,231 169.180,219 21.059,418 Russia. —From such information as we have been Total •91-'95.287.058.945 213.595.873 71,521.283 218,764,340 793.93^.411 117,212.128 able to secure, we should judge that the output in 1896 68.831.80/ 15.718.9S2 1'<'.2»H,700 10.!i68.888 )67,0«1.370 19.959,888 1900 from 1897 5.3.860.000 63.903,180 11,8:8,'>00 44,431.»93 161,073,173 18.8«5.600 the Russian mines differed but little from l«98 64,488,000 .56.738,000 10.491.100 61.560.764 173.287.8«4 19.488.135 that for 1899, which in turn was somewhat less than 1«99 54.764.500 55.612.090 12.686.6.53 44.161.000 187.224.213 19.161.112 1900 (est.). 59,610,543 56 000,000 13,600,000 45,000.000 171,210.543 20,415,218 that for 1898. It is stated that the unsatisfactory re- t Values of silver In this table are commercial values and are eom- sult attained is due to interference with placer-min- pnted on the average price each year of silver as given by Messrs. Plxley & Abell, London. Value of & in this table $4-8665. ing on the tributaries of the Amoor River by the disturbances in Manchuria and Eastern Siberia. A RAILROAD GROSS EARNINGS FOR removal of the cause is expected to be followed by an JANUARY. addition to the yield. The exhibit for nine years is as folloAvs. The first month of the new year presents a very Yaluea. Ounces. gratifying showing of railroad gross earnings. The Russia's production In 1892 $24,702,212 1,199,809 upward movement of the revenues of our railroad Russia's '< " 1893 27,808,201 1,345,224 Russia's " " 1894 24,103.396 1,167,456 transportation lines, which has been in progress so Russia's " " 1895 28,894,360 1.397,767 long, is seen to continue unchecked. Considering Russia's " " 1896 21,535,757 1,041,794 Russia's " " 1897 23,245,666 1,124,511 the handsome gains recorded in January of other Russia's " " 1898 25,463,337 1,231.791 years, a break in the upward tendency could have Russia's " " 1899 22,167,100 1,072,333 Russia's •• " 1900 22,738,980 1,100,000 occasioned no surprise. As it is, the gains are as numerous and as large and noteworthy as on previous Mexico. —We are somewhat surprised to find that occasions before comparison was with such heavy to- Mexico's gold output has probably decreased to a tals—that is before the totals had been raised by suc- moderate extent. The 1900 returns at hand indicate cessive large increases to their present proportions. the yield to have been about $8,682,156 or 420,000 In a word, the expansion of the gross receipts of our fine ounces, which compares with $9,302,310 or public carriers has lost none of its progressive char- 450,000 fine ounces in 1899 and $8,500,000 or 411,187 acter. fine ounces in 1898. Our compilation comprises 107 companies operating India.—Almost all the gold produced in India in 1901 101,882 miles of road. On these lines the in- comes from about a dozen mines located in what is crease over last year reaches more than 4^ million dol- called the Colar Field. But the output is constantly lars—in exact figures $4,274,978, or 7*94 per cent. The increasing, and in 1900 reached nearly 500,000 gross significance of this further addition to receipts will ounces, or about double what it was in 1895. appear when we say that the favorable result noted has The statement of yield given in gross ounces has been reached notwithstanding that comparison is with been as follows for six years. figures in 1900 which for amount of gain disclosed KA8T INDIA—GOLD PRODUOTION PRINCIPAL MINES. ranked among the very best ever presented by us in 1900. 1899. 1898. 1897. 1896. 1895. Ounce i. Ounces. OuncM. Ounces. Ouncei. Ounces. any monthly exhibit. Our statement then showed no Champion Reef 161,063 159.101 140,153 123,926 85.995 70,963 OoreKum 8J.357 61,282 62,585 55,819 65,575 70,349 less than $6,671,118 improvement, or 15 14 per cent. Mysors 163.135 156.786 159,374 127,567 107,781 63,441 The present^increase of 4:^ million dollars follows this Nundydroog 47,737 13,664 41.534 56,377 11.925 38.623 BalaKhat Mysore 15.509 7.555 414 176 2.851 30(1 exceptionally large gain in 1900. More than that, it Mysore West and Wynaad . . . 6,0ii6 4,358 6.225 10.349 6.100 3,970 Coromaudel 6.679 3,503 8.160 12,«00 6.296 follows $2,942,463 increase in 1899 over 1898 and Mysore Reefs 245 2.852 613 1,973 1,073 *6,043,668 increase in 1898 over 1897. Below we give Yerrakonda 84 Nine Reefs 5,875 1,661 2.440 224 62 1,%«6 the record for the last five years. Mysore Gold Fields 2,438 1.798 320 Wondali (Deocan) l,i>m 7,828 1.894 Road Block 1_62» 104 MUeage. JBarningt. or 495.^40 118.075 117.124 389.779 321.878 250.U4 Tear Veor r»at 1 ea» I DtertmM. I Pr«c«ding eioen. Preeedint. SILVER—PRODUCTION OF THE WORLD. Januarv. MiUs. MUes. 9 As we have often remarked, it has been impossible 1897 (119 roads). 65.^71 94.: 08 84,977.<<29| 87.6E0 T'O Dte. 2.518,101 1598 (ISO roads) lCO.o:i 99,038 4i.627.1«-l ?d 1-^.610 Inc. 8.0iS,eW of late years to obtain in the case of silver as early 1599 (12? roads) 97,859 9rt,«70 44.S60.SfS 11417 800 Inc. e.
318 THE CHRONICLE. [Vol. LXXII.
The conditions were such as favored continued ex- movement also there was little advantage—876,610 pansion in revenues. Our industries were maintained head of hogs were delivered in 1901 against 880,896- in a state of great activity, giving the railroads a last year and 846,279 in 1899. We may add that the heavy traffic in merchandise and general freight and live-stock receipts as a whole comprised 25,877 car- making passenger travel large. As far as rates are loads in 1901 against 25,472 car-loads in 1900. concerned, tariff schedules were adhered to with un- BBOEIPTS AT OBIOAOO DDKINO JANUABT. usual precision. At the same time weather conditions January. were extremely satisfactory, the same as the previous 1901. 1900. 1899. 1898. 1897. 1896. year, no interruptions of consequence from snow Wheat bush. 2,491,511 1,476,768 2,924,964 1,006,844 664,437 877,530 blockades being reported anywere. Nevertheless there Corn... bush. 11,148.998 9,086,822 13,918.361 8,081,784 4,210,268 8.437,679 some untoward circumstances. In Oats... bush. 9,608,434 7,966,829 7,041,301 7,882,505 6,512,20i 7.7e2.S87 were not wanting Rye ...bush. 160,088 229,226 441,626 241,960 196,373 101,680 the South the cotton movement did not equal that of Barley.bush. 2,033,170 2,212,998 l,48ii,450 1,649.612 1,333,637 1,340,749 1900, which had been much below that of the two Total grain 25,440,186 20,971,137 26.808,602 18,742,685 12,815,817 18,623,425 Flour.. bbls. 1,018,146 1,170,616 707.674 312,039 188,323 822,227 years preceding. In the West the volume of the Pork....bbls. 146 484 10 357 106 228 Cutm'ts.lbs. 14,176,268 17,041,005 16,001,880 19,349,797 17,030.780 heavier than in 1900, but much 12,246.356 grain receipts was Lard lbs. 6,900,868 6,887,380 8,295.614 6,608,370 6,611.785 7,^91,701 smaller than in 1899, and in the spring-wheat sec- Live hogsNo 876,610 880,898 846.2'; 9 767,846 763,904 707.698 tions some of the roads sustained heavy losses in As to the cotton movement, the receipts at the revenues by reason of last season's short wheat Southern outports amounted to 714,782 bales the crop. present year, against 722,526 bales last year, 826,870 Taking wheat, corn, oats, barley and rye together, bales in 1899 and 1,030,393 bales in 1898. The over- the receipts at the AVestern primary markets for land movement makes a hardly better comparison, the five weeks ending February 3 were 63,556,493 the shipments at 222^256 bales for 1901 contrasting bushels in 1901, against 52,583,240 bushels in 1900. with 203,647 bales for 1900, but with 323,563 bales for The wheat receipts aggregated 16,136,040 bushels, 1899. against 13,119,113 bushels. It will not escape notice, BBCEIPT8 OF COTTON AT 80UTHEBN POBT8 IN JANUARY, 1901, 1900, however, that at Minneapolis the wheat deliveries 1899. 1898, 1897 AND 1896.
were only 7,151,300 bushels, against 8,247,290, and January. Ports. that at Duluth there was also a loss. The decreases 1901. 1900. 1889. 1898. 1897. 1896.
here obviously reflect the spring-wheat shortage in Qalveston bales 243,160 152,116 218,1 54 226,884 114.968 83,861 Sabine Pass, 10,0C6 24,013 14.252 10,159 10,607 18,388 the Northwest. the other hand we have in the Ac. On New Orleans 249,828 247,342 284,08e 452,804 214,956 186,048 large gains in the wheat receipts at St. Louis and at Mobile 8,933 34,419 29,602 61,556 38,834 30,690 Pensacola, &c 23,298 23,603 31,656 24,614 16,666 3.103 Kansas City, and also at Chicago, evidence of the part Barannah 100,588 119,721 107,308 103,716 77,S31 60.084 played by the phenomenal wheat crop harvested in Brunswick, &o 14,932 18,622 44,474 38,926 10,08b 6.786 Charleston 13,912 21,903 21,992 41,816 25,876 23,688 Kansas the late season in swelling the grain move- Port Royal, &o 143 85 3,639 1,293 6,684 S,81« Wilmington 14,063 84,107 12,68f 17,126 17,274 18,884 and thereby railroad revenues. The details of ment Washington, Jco 43 71 184 166 94 77 the grain receipts in our usual form are shown in the Norfolk.... 34,956 49,294 57,728 48,526 49,43r 54,206 Newport News, &o 1,680 7,300 1,344 2,680 1,664 11,016 following. Total. 714,788 722,526 826,870 1,030,393 683,231 494,091
BECEIFTS OF FLOUB AND OEAIN FOB FIVE WEEKS ENDING FEB. 2. In the case of the separate roads, a loss of $101,071 by the Canadian Pacific, of $57,044 by the Great Flour. Wheat, Corn, Oats, Barley, Rye. (bbu.y (buth.) Ibush.) (bush.) (bush.) {bush.) Northern system and of 131,738 by the "Soo" road OMcago— the effects of the spring-wheat 1901 1.08»,B64 8,649,661 11,747,3B3 10,146,240 2,108,683 175.471 bears testimony to 1900 1,879.340 1,666,618 10,267,464 8,649,098 2,427.748 239,V36 the decreases are limited, Milwaukee- shortage. Nevertheless 1901 136.175 871,500 5Sl,40Ci 853,200 1,218,150 126.000 1900 66.586 665,800 288,360 1,027,200 1,619,700 132,300 there being only four roads altogether for amounts of St. Louie— over. the other hand, the number of 1901 203,810 1,474.111 3,080.330 1,329,835 188,260 60,250 $30,000 or On 1900 163,590 847,333 1,858,085 1,566,180 320,860 50,260 very noteworthy increases is large, as will Toledo— roads with 1901 111,729 843,960 1,861,196 319,981 64,500 40.318 1900 77,210 186,»S3 2,163,603 264,000 69,600 19,391 appear from the following. Detroit 1901 2«,90P 157,546 549,164 251,402 PBINCIFAL CHANGES IN GROSS BARNIN08 IN JANUARY. 1900 12,601 179,92! 409,096 1S3.163 69,868 16.b66 Increases. Increases. Cleveland— Baltimore & Ohio $445,148 Minn. & St. Louis $63,760 1901 817,039 1,705,808 821,196 Mobile Ohio 56,659 1900 162,334 1,004,020 768,8^4 Missouri Paoltio 377.678 & Texas... Yazoo Miss. Valley. 49,906 Peoria— Mo. Kane. & 341,832 A Paciflo 320,317 01ev.Cin.Chic.&St.L. 49,833 19D1 123.461 39,200 8,486,4C0 1,207,300 271,900 25,400 Northern 1900 70,251 49,400 1.741,250 741,300 873,t50 SontUern Railway 253 .648 Iowa Central 49,833 19,200 Birm.. Duluth- Texas & Pacific 230,954 Kan. C. Mem.& 39,294 Chicago AEast 111 37,656 IflOl.rr 791,823 1,881,839 250,148 14.92E 28,771 Wabash 204,100 1900 952,57t 373,20B 10,377 68,789 20.4 18 8t. Louis Southwest... 174,881 Ft. Worth & Rio Qr. . 33.435 Minneapolis— St. Louis & San Fran. 166,467 Buff. Rooh. & Pittsb'rg 31,221 1901 7,151,300 1,812,150 1,176,670 167.590 34,010 Louisville & Nashville 163,282 Texas Central 31,346 1900 41,87i 8,247,290 902,610 848,070 830,890 40,560 Choc. Oklah. & Quit.. 158,186 Internat'l & Gt. Nor... 31,195 Kansas Oitv— Illinois Central 152,332 1901 2,489.900 1,070,000 308,200 Norfolk <& Western.... 123,422 Total (representing 1900 762,000 879,000 214,000 Kan.O.Ft.Sc.&Mem.. 119,208 33 roads) $4,430,943 Chesapeake & Ohio.. 118,247 Decreases lotalofall- Ohio. Mil. & St. Paul.. 107.755 Canadian Pacific $101,071 1901 l.eS4,93 16,186,040 26,266,170 16,663,067 4,017,996 474,820 N.Y. Central 103,252 Mexican Central 70,397 1900 1,701,40C 13,119,113 19.838,721 14,111,212 4,969.990 64.6,204 Central of Georgia.... 98,297 Gt. Northern System. 57,044 Tol. St. L. & Western. 80,660 Minn. St. P. & 8. St. M. 31,738 Fere Marquette 79.946 Though Chicago had larger receipts of wheat and Nash. Chat. & St. L... 72,053 Total (representing Bur. Ced. Rap. & No.. 65,039 6 roads) $260,250 also larger receipts of corn and oats, the grain move- ment at that point, while much ahead of that for In order to permit comparisons not only with last January 1900, was not quite equal to that for 1899. year but with the years preceding, we annex a series Here are the figures bearing on that feature, the of tables showing the earnings back to 1896 of the results being for the exact month in all the years. It leading roads arranged in groups. "While the fur- will be noticed that altogether 25,440,196 bushels of ther gain in 1901 in the Northwestern group by grain were brought in at Chicago in January 1901, as reason of the spring-wheat shortage is small, the against only 20,971,137 bushels in January 1900, but as Southern and Southwestern groups are distinguished against 25,808,602 bushels in 1899. In the live-stock for quite heavy added increases. . . — )...... 1 1 1
Februabt 16, 1901.] THE CHRONICLE. 319
BARN1NG8 OP NOBTHWB8TBBM AND NOBTH PACIFIC GHODP. 1900, 1899, 1898 and 1897, and Chicago & Texas for 1900. 1899 and 1898. Resulu Branch are not included for 1900, 1899 and 1898. t on Yaioo are .simply the totals on the Chicago Michigan, January. 1901. 19C0. 1899. 1898. 1897. 1898. + These figures A West De- troit Grand Rapids & Western and Flint & Pere Marquette. t t i t 1 t Bnrl.0e(l.R.a6 No 426,007 360,986 363.472 802,964 299,107 392,706 OR088 JEARNING8 AND MILEAGE IN JAlfUABY. Caaadlan Pacific. 2,081,000 2,152,071 1.884,670 1.672,871; 1,312.924 1.474,798 627.3S2 522,987 448.445 369,23ti 318.160 858,153 Ohio. Gt. West.... Qro$» Earnings. UiUage. Chlo.Mll.iSt.P.. 3,318,667 3,210,812 2,950,410 2,881,297 2.010,450 2,829.623 Duluth8.8.*Atl. 152,282 167,148 162.056 114,128 B7,633 132,816 Ifame of Road. Increase or
1901. 1900. 1901. ; Great Northern.. tl,927,949 tl,«84,993 1 1,651,263 1,886,414 1.031,415 1.112,4bl Decrease. 1900. Iowa Central 327.128 177,296 16^,304 133,728 114,932 167,472 Mlnn.& St. Louis. 261.3U 197,661 172,781 146,512 127,477 146.878 263,083 188.h30 Alabama Gt.South'n. 198,572 18^,8041 +15,768 3101 310 M. St. P. & S. 8. M. 304,512 338,260 227,271 240.081 Ala.N.O.&Tex.Pac- North'n HaclHc.j 2.013,189 •1,682.378 »1,52G,620 968,868 1,163,922 *2,83350e N. on. & No. East.. 172,131 183,261 —11,130 1961 196 j 108,102 114,407 98,255 90.787 Bt.PanlADul.S 88,625 Ala.
* Figures for January, 1901, not reported ; taken same as 1900. Mexican Railway 335,200 338,100 -2,900 321: 321 Mexican Southern... 2/51,833 y42.739 +9,«'94 2601 228 BABNIN08 OF TBUITE LINES. Minn. A St. Louis 261,311 197,551 +63,760 643 508 Mlnn.8t.P.A8.Ste.M. 304.512 336,250: —31,733 1.278 1,278 341,832 2,222 2,197 January. 1901. 1900. 1899. 1898. 1897. 1896. Ho. Kans. A Tex. sys 1,353,851 1,012,019: + Mo. Pao. A Iron Mt.. 2,764,940 2,389,959, +374,981 4,938 4,938 $ $ $ $ $ $ Central Branch 96.618 93.921, +2,697 388 383 Mobile Jack. 8,14l' +2,457 50 50 Bal. & Ohio ( 2,199,544 2,070,430 1,950,841 1,817,932 A K. C 10,598 [ 3,896,169 3,650,011 Mobile A OhioJ 599,600 542,941 + 56.659 876 876 B.&O.S.W. 523,648 605,648 |(72,483 489,817 Nash. Chat. A St. L. 706,109 634,056! + 72,053 1,195 1,195 C.C.C.AStL 1,851,022 1.801,189 1,041.832 1,098,573 1.056,721 1,102,260 N Y.Cen.AHud.Rlv.. 4,353.571 4.250,319 + 103,252 2,829 2,836 Peo. 2,225,878 2.222.200 < 850,395 294,016 246,522 267,969 Ohio River 100,4211 100,OJ9 +3921 224 224. ' Pere 634,309 554,363 +79.9461 1,766 1,766 D.G.H.&M 71,062 70,079 75,199 72,644 Marquette Plttsb. Bess. A L. E 128,148 108,558 + 19,590 203 203 N.Y.C.& H+ 4,353,671 4,250,319 3,789,861 3,107,808 3,093,848 3,433.144 Pltteb. A Western. Wabash.... 1.518,683 1,314,688 1.183.488 941,762 686,059 976.806 Pittsb. CI. A Tol 279,945 281,315 -1,370 352' 352 Pittsb. Pa. A Fair Total. .. 18,863.&00 12,847,275 10,799,786 10,087.205 9,14!^,253 9,643,223 d Rio Grande South'n. 42,030 40,254i + 1,776 180 180 Rio Grande Western. 348,800 372,500 —23,70' 610i 584 312' tlnclude,s after July 1,1898, the Beech Creek RR.and the Waliklll Valley 8t.Jo8. A Gr. Island.. 108,034' 93,217 + 14.817' 312 8t. I,. Kennett 11,170 8.500 +2,670 44 44 RR. and after May 1, 1899, the Fall Brook system. ASo.. St. Louis A 3. Fran.. 816.621 650.157, + 166,467 1,691 1,402 BARNIN08 OF MIDDLB AND MIDDLB WB8TBBN BOAD8 St. Lotiis Southwes'n 677,712 502,8311 +174,881 1,258 1,258 St. L. Van. A T. H... 160,610 152,297 +8.313 158 158 Ban Fran. No. Pao. 62,943 60.039! +2.904 165 165 January. 1801. 1800. 1899. 1898. 1897. 18(6 A banta Fe Pres. A Phx 73,084 89,929, -16,845 224 224 8her. Shrev.A South.. 67,923 39,941' h27.982 201 155 I « S < t So. Car. A Qa. Kxt... 23,819| 21,611 +2 008 182 182 Ann Arbor 148.241 148,041 124.207 142,186 98,590 85,650 Southern Railway... 2,885,574 2,631,926 +253,648 6,434 6,414 Buir.Roch. ci Pitts 416,970 885,749 297,866 233,199 250,438 265,914 8t. Louis Division. 163,176 152,1521 + 11,0241 374 374 Chicago & Bast 111. 608,474 470,818 398,234 356,475 338,389 361.422 T. Haute & Indlanap. liJ4,029! 135,915 -11.8861 80 80 174 Chlc.Ind.&Louisv. 311,738 322,930 244.100 225.358 195.606 233,419 T. Haute A Peoria... 44,2691 41,657 +2.612 174 Texas Central 65,0861 33,740 + 31 346 227 176 Clev.Lor.JtWheel. 143,549 165,212 126.116 129,019 86.980 93,864 Texas A Paoitto 1,017,5831 786,629 + 230,954 1,517 1,493 Hlgin Jol. & Bast.. 102,881) 178.628 107,342 142,215 117,642 76,971 Tex. Sab.Val. &N.W. 12,0001 10.280 + 1.720 38 33 Evansv.ATerreH. 115,253 112,712 101.934 96.456 65,251 98.300 Tol. A Ohio Central.. 201,753! 195,831 +5.922' 371 371 Hocking Valley... 870,334 301,898 229,486 206,8»8 178,097 202,6:)4 I'ol. Peoria A West'n. 96,292, 86,364 +9,928 248 248 451 451 lUlnolB Central *.. 3,064,711 2,912,379 2,423,798 2,276.720 1,898,262 1,920.629 Tol. St. L. A West.... 224,880 144,220 +80,660 204,100 2.358 2,328 Fere Marquette... 634,3u9 564,863 513,710 +453,828 +395,424 +4a8.0S9 Wabash 1,518,683 1,314,583 + Wheel. A Lake Erie Plttsb'g* Weit'n, 279,946 231,316 820,701 188.893 161.7 9-j 188.770 236,091 227,084; + 9,010 464 464 Clev. Tol.4 Can. A 8o..$ Ohio Cent.. 201,763 196,831 188.628 147.712 145,044 144.450 Wisoonsln Central.. 40=i,98'^! 381,896 +24.039 950 950 Tol. Peo. ft West. 90,892 89.304 80.806 75,691 71,204 88.495 Yazoo A Miss. Val... 550,558: 500.652 + 49,906, 1,030 1,001 Tol.St.L. iWest. 221,880 144,280 148.794 146,574 163,148 155.636 Total(107 roads). 58,137,266!53,862,288 +4,274.9781 101899 99.069 Wheel. A L. Brie.. « 113.490 128.918 76,888 100,580 236,084 227,084 Clev. Can. 1 & So.. l 5J.745 E319i 41.718 41,893 * Includes Paducah & Memphis Division la both years. --— — - - - -~^._- - — _.^^ - _ — Total 6,914,924 0,645.037 5,362,890 5.024,226 4,262.750 4,607,392 t Earnings are for railroad only.
t Montgomery Division included in both years. in 1901 but not In 1900. Includes the operations of the St. Louis Alton & Terre Haute for all the a Peoria Deoatur A Evansville Included both years. rears. The Chesapeake Ohio St, Southwestern and Ohio Valley are included for y For three weeks only of the mouth in 320 THE CHRONICLE. [Vol. LX2IL
corner ITEMS ABOUT BANKS. BANKERS AND TRUST COS of the Boulevard and One Hundred and Thirteenth Street. When this shall have been opened the Corn Ex- The — sales of bank stocks this week aggregate 181 shares, change will have eight branch banks. of which 131 shares were sold at auction and 50 shares at the —David H. McAlpin died in this city on Friday last in the Stock Exchange. Transactions in trnst company stocks eighty-fifth year of his age. He attended a meeting of the reach a total of 102 shares. Western National Bank stock Directors of the Eleventh Ward Bank on Tuesday and was has advanced from 404 last November to 524, the price paid then stricken with apoplexy, from which he did not recover. this week for 10 shares. The value of City Trust Co. and Mr. McAlpin was one of the most prominent tobacco manu- United States Trust Co. stock has risen 25 and 21 points, facturers in the country. He was a Director in the National respectively, as shown by sales made this week. Bank of the Republic, in the Eleventh Ward Bank, in the Shares. Banks—J^ew Tork. Priet. La$t Previous Sale 15 Amer. Exchange Nat. Bank 248 Feb. 1901— 248% Union Trust Company, the Home Fire Insurance Company, *50 Commerce, Nat. Batk of 321 Feb. IPOl— 321 Manhattan Life Insurance Company, German-American 16 Corn Exchange Bank 385 Feb. 1901— 386 10 Fourth National Bank 186 Dec. 1900— 184 Real Estate Title Guarantee Company and in the First 80 Oriental Bank lt;0\ Sept. 1900— 185 10 Western National Bank 524 Nov. 1900— 404 National Bank of Morristown, N. J. He was also a Director Trust ( 'ompanies—iVeio Tork. in the Union Theological Seminary. The Directors of the 15 City Trust Co 360 Dec. 1900— 335 32 North American Trust Co 24058 243 Feb. 1901— 23538 National Bank of the Republic and of the Eleventh Ward 55 United States Trust Co 1681-1682 Feb. 1901—1660 Bank on Monday adopted appropriate minutes. * Sale at the Stock Exchange. —Senator Aldrich has advised A. B. Hepburn, Vice Presi- —Kansas City, Kansas, has been declared a reserve city. dent of the Chase National Bank, that no action upon the The Comptroller of the Currency's certificate to that effect tax upon bank capital is possible in conference except to was issued on Feb. 4 1901, under the provisions of Sections agree either to the House provision, which retains the entire 5,191 and 5,192 of the Revised Statutes of the United States tax, or to the Senate provision, which'reduces it one-half, or as amer ded by the Act of March 3 1887. Kansas City has a compromise between the two provisions. Mr. Hepburn is eeven financial institutions, including the Inter-State Na- chairman of a committee of the American Bankers' Asso- tional Bank with a capital of $1,000,000—the only national ciation having in charge matters relating to bank tax re- bank. Four State banks, viz.: Armourdale State Bank of duction, and he has had much correspondence with the com- Commerce, Commercial State Bank, Merchants' Bank and mittees of Congress concerning the pending relief measures. "Wyandotte State Bank have an aggregate capital of $185,- This will account for the open talegram from Senator 000. Other institutions with banking facilities comprise the Aldrich above noted. American Investment Co., $100,000, and Kansas City Trust —At the annual meeting of the Cleveland Stock Exchange Co.,|25,0(0. on February 1 the Board of Directors was unanimously re- —A seat on the Stock Exchange was purchased this week elected and the board in turn re-elected the officials who by Charles I. Gates, a son of John W. Gates of the Ameri- have served since the organization of the Exchange. Wm. can Steel & Wire Company. The price paid was |51,000, an G. Mather is President, A. H. Hough is Vice-President and advance of |500 over the record price. This does not include J. Sherwin is Treasurer. F. B. Sanders resigned his office the initiation fee of §1,000. The seller of this membership as Secretary but his successor has not yet been elected. was Lawrence bickley, W. of the firm of Bickley & Hop- —The Board of Directors of the Central Trust & Safe kins. Deposit Company of Cincinnati has elected Nathaniel H.
—David M. Minzesheimer. of F. J. Lisman «fe Co., was Henchman President of the institution. this week elected a member of the Stock Exchange. —The capital stock of the Old Town Bank of Baltimore, —In accordance with its u^ual custom, the American Md., is to be increased from $150,000 to $300,000. It will be Bankets' Association has gotten up in attractive and Eub remembered that the bank went into a receiver's hands on stantial book form the proceedings of the twenty-sixth an- December 26, but was subsequently declared to be solvent. nual convention of the American Bankers' AssociatioD, It is stated that the bank is to be changed from a State in- which was held at Richmond, Va., October 2, 3 and 4, 1900. stituti on to the ^national system. The price of the new The book is illustrated with steel engravings of the principal stock will be $12 00 a share to present stockholders, which officers of this association, and in addition to verbatim re- will net a premium of $2.00 a share (the par value of the ports of the addresses, it has the constitution and by-laws of shares being $10 00), thus securing to the bank a^surplus from the association and a full list of its officers ani members. that source of $30,000. —Mr. Andrew Mason, the veteran Superintendent of the —Theystockholders' committee of the American National
New York Assay Office, who has been critically ill at his Bank of Baltimore has given up the attempt to reorganize home in Orange, N. J., with pneumonia, is convalescing, and the bank and has decided to go into liquidation. The com- his many friends will be pleased to Jearn that he will soon be mittee explained, at a conference with Comptroller Dawes,that able to return to his duties. while a number of the stockholders were willing to pay an as- of 75jper cent to enable the bank to resume business, —It has been reported that the North American Trust Co.'s sessment other holders were not able to do so. The Comptroller branch in Havana had severed its connection with this insti- estimates the assessment for purposes of liquida- tution. This is not true. The Havana branch of the Trust now 15 per cent, but the stockholders' committee Co. is to be made the nucleus of the other branch banks in tion at about that that will not be necessary. It is prob- Cuba, and though still managed under the direction of the hopes amount institution, called the Street Na- Trust Co. Is to be conducted by local boards of directors. able that a new to be Gay tional Bank, will be organized to buy the building and assets The capital of the Havana branch, which institution is known the American National. as the National Bank of Cuba, is $1,000,000, which was con- of tributed by the Trust Co. —The Security Trust Company of Indiana, whose head- quarters are to be located at Indianapolis, has recently been —A block of $1,C00,C00 of the issue of §15,000,000 4 per cent organized, and will shortly be incorporated with a capital of bonds of the Republic of Switzerland, bearing 4 per cent in- $5f0,000. Mr. A. C. Daily, formerly State Auditor of In- terest, and not redeemable before December 31 1920, has been diana, and President of both the American Trust Company placed in this country by Knauth, Nachod & Kuhne at 104 of Lebanon and the Lebanon National Bank of Lebanon* plus accrued interest. The orders for thesa and for other Ind., is to be the President of the new company, and William foreign securities which have been placed by the above firm Cashier of the Capital National Bank of aie chiefly from clietts in the interior. F. Churchman, ladianapolis, is to be the Treasurer. The board will in- —A committee of officers of the principal trust companies clude, in addition to Messrs. Daily and Churchman, Encs H. was appointed at a meeting held at the U. S. Mortgage& Nebeker, ex-Treasurer of the United States; Orlando M. Truet Co.'s offices on Monday to represent these institutions Packard, Vice-President of the Capital National Bank of at Albany in opposition to the proposed new tax. Indianapolis; Robert L. O'Hair, President of the Central —The Colonial Bank will soon open a new branch at the Trust Company and the Central National Bank of Green- comer of Columbus Avenne and Ninety-third Street. castle, Ind ; George J. Marott, Alfred M. Ogle and John L. —A branch of the Corn Exchange Bank was opened this G iffiths. •week at Astoria, Qaeens County. Arrangements have been —The Noel- Young Bond & Stock Company, the well- completed by this back to open the University Branch at the known investment bond house of St. Louis, has called a February 16, 19C1.] THE CHKONICLE. b21 meeting of its stockholders for April 11 to vote'on a proposi- standing has been arrived at between the two countries and sition to increaae its capital stock from $20,000 to CIIOO.OOO. that they will work cordially together, especially in the Far East, in the future. The hope is entertained at the same H. M. Noel ia President of the corporation, H, G. Noel is time that in the Far East, at all events, they will obtain the Vice-President and W. H. Young is Secretary and|Trea8urer. co-operation of the United States and Japan, and that thus —The Bankers' Trust.Company of Wilmington, Del., which the peace of the world is being secured. Upon the Contineot there is little more doing than here at was organized a short time ago with a capital of |100,000, home. The slow liquidation th^it has been going on in Ger- has increaaad that item to $150,000. Besides doing a general many and Belgium since midsummer is contioupd. It is trust business, the company has also a savings department. now evident that all serious danger is at an end, however, there will in the Its officers are. President, Robert H. Jones, Jand^Vice-Presi- and it is hoped that be a recovery course of the presrnt year. In Berlin there was a general expectation dent, Thomas G. Lawson. that the Imperial Bank would lower its rate of discount; but —The stockholders of the newijBankers'iNational Bank of it has not done so. Still, money is growing abundant and reduction in the rate will take Cleveland held a meeting onJFebruary 5 and elected the fol- cheap, and no doubt a place before long. Trade is very quiet, the iron industry is very lowing members of the Board of Directors : ^Luther Allen, much depressed. There is no speculation; while money is C. Schmi'jk, F. W. Gehriag, Wm, H. Hunt, Emil Joseph, now rapidly flawing back from the interior to Berlin. L, E. Holden, W. H. Findley, Gao. P. Com9y Jr., William In France money is also growing very abundant, owing the receipts of gold from York, but also to Greif, John M. Leicht, J. C. Transk, William Scbafer, N. I. not only to New the general return of money from the interior. The dis- Dryfoos, J. W. Conger, Otto I. Leisy, Andrew Doll and count rate in the open market this week has been only about Kraus. Later the Directors elected Luther Allen, Joseph R. 2?8 P^r cent. There is little doing on the Paris Bourse; but President, C. N. Schmick, Vice-President, and J. R. Krau3, French capitalists continue buying Argentine and Brazilian African gold mines, not, however, on Cashier. It is expected that !;the |bank will be opened for securities and West a very great scale. German and Dutch capitalists are also business about May 15. buying Argentines and Brazilians to som3 extent. In Rus- —The Provident Savings Bank and the Provident Trust sia the crisis continues. The banks are locked up. Trade is everywhere there is a of confi- Company of Cincinnati, mention of which has been pre- greatly depressed, and want dence in the future. viously made in this column, formally opened for business There is much uncertainty yet respecting the money mar- last Saturday. ket. The Bank of England is gradually getting control of the market, and it is keeping its rate of discount at 5 per —The stockholders of the Real Estate Trust Company of outside cent. In some quarters it was thought probable that the 28 a proposition to in- Philadelphia will vote on March on rate would be reduced this week, the more particularly as crease the stock from $1,000,000 to $2,000,000. The par value the Government is about to borrow; and furthermore, it is of the stock is $50, but it is the intention to issue the new often urged that an effective 4 per cent rate would be just as powerful to give the Bank control as aa ineffdctive 5 per shares at |100 to the existing stockholders. The market cent rate; but the directors have made no change, probably price is $130 per share. F. K. Hippie is President of the in- because of the vast investment in sterling bills and especially stitution, W. F. North is Treasurer and Wm. R. Philler is in Government bills by foreign bankers and institutions of Secretary. all kinds. The French banks, insurance companies and rail- way companies are still taking these bills in very large num- Investments," —A "Hand Book of Rhode Island issued bers. France is by far the largest foreign holder; but annually by Davis & Dexter of Providence, R. I., has come almost all Continental countries are taking the bills; and as to hand. It contains, in convenient form, a great deal of the holding of sterling bills is becoming so unusually large abroad, the directors of the Bank of England probably think information concerning the banks and trust companies and that it is incumbent upon them to maintain high rates here. miscellaneous corporations of the State for the year 1900. The large holdings of sterling bills by French institutions It also gives a statement of the bonded debt of Rhode Island of all kinds is partly to make sure of teing able to obtain of if it and its various municipalities. gold when required. Tae Bank France need not pleases pay out gold, and very often it refuses to pay much of the metal; and consequeuUy all French institutions have for years been in the habit of holding a considerable amount of sterling bills. Just now the holdings are exceptionally [From oar own oorrespondent.] large, partly because French investors have been selling South African gold shares on a large scale, and until quite London, Saturday, February 2, 1901. recently they have been baying very little in this market, This being the day of the Queen's funeral, business is but mainly bdcause France has not bought as much raw completely suspended, The banks, the Stock Exchange and material here as she has done in past years. Towards the indeed all the shops are closed, and throughout the week end of 1899 woolen manufacturers and other great capitalists sent out agents to Australia to buy wool on a large scale. very little has been doing; nor is it likely that there will be They did so, but only by running up the price of the raw much activitj' for some time to come. la the first place, the material to an extravagant height. A few months later the affairs of the London & Globa Finance Corporation have not market broke down, and the losses to the French industry yet been arranged. Tlie losses occasioned by its l9reak-down were very great. There were numerous failures, indeed. and the numerous failures it led to have seriously incon- The industry has not as yet recovered from the consequences, venienced many members of the Stock Exchange, who have and as a result France has bought very little wool in Lon- been able to pull through nevartheless, and have also incom- don. Lastly, American visitors to the Exhibition spent moded outside operators. largely in Paris and the money is being drawn from London. Besides, there is great unoertsJnty as to how those people In all these ways France has obtained an exceptional con- stand who bought and sold the shares recently brought out trol over this market; but if the buying of Argentine and by the corporation for which as yet no special settlement has Brazilian securities goes on, the balance of indebtedness been obtained; and while the uncertainty lasts it will dis- against us will be largely reduced; and if when the war ends courage much new buying or dealing in the Stock Exchange. South Alrican gold-mining shares are bought largely the There is a loss of confidence respecting the management of balance of indebtedness may be entirely changed, several of the West Australian mining companies, and indeed Meanwhile, the fact that such a large amount of sterling the loss of confidence extends in some cases even to their ac- bills is held on the Continent makes the market here ex- counts. Then the American market for the time being has tremely sensitive. The value of money at the same time is become quiet, and ttie market for British railway stocks is falling away in Paris, and consequently all the Freneh in- stagnant; for although in several cases the railway divi- stitutions continue buying sterling bills. Therefore, ttiere dends are better than had been anticipated, the traffic re- will be no gold taken to Paris for some time yet. Indeed, turns just now are disappointing and are causing a fear that the Paris exchange upon London is rising rapidly. the improvement that was hoped for in the New Year will The India Council has this week sold its drafts fairly well. not take place. Lastly, the new Government loan is put off It offered for tender on Wednesday 70 lacs, and the applica- from week to week. Yet nobody knows how soon it may be tions amounted to 71 lacs. The whole amount offered was out, brought and everybody wishes to be prepared for its allotted at prices ranging from Is. 3 31-32i. to Is. 4 l-32d. per issue. rupee. Later in the day a small amount was sold by special final The result of all is exceedingly little business upon the contract at Is. 4 l-32d. per rupee. Stock Exchange. On the other hand, a more hopeful feeling The following return shows the position of the Bank of is beginning to spring up. The general impression is that the fingland.the Bank rate of discount, the price of consols, &c. guerilla warfare in South Africa is rapidly coming to an end, 1901. 190a 1899. 1809. that those engaged in it are growing fewer and fewer Jan. so. Jim. SI. Feb. 1 F,b.i every day, £ M £ * and that their supplies of every kind are rapidly Jtronlatlon 8i*,772,«10 RS.SJO.PIS e6,*.'.^,"45 £at*«'.110 falling. Moreover, the attitude of all foreign countries to- Pnbllc deposits 8,824.040 11,«<0.75» »i.Ti(\v7J 14 s^^ss? Other «0.71H.'JO7 .•<-'.6T<.4WJ this deposits 40,0K6,a41 40,v.il.»8l wards country since the death of the Queen has made Joverament securities 15 4;U,t2'i 18.i.^..l67 1;<.8';.(..S(J U.cOi.oSa a very favorable impression; and above everything, the long Other seotirltles 29,6M>,10(i 27.'-so.4»l S2.2i>': 7S 3145o.,4'l ' "'''7 aeserve of notes and coin 2i,6tto,rti>~ ^s.Oil.olo i2.' stay of the •• German Emperor so as to be able to attend the Ooln * bullion, both departm'tg Se.tt 3.278 S5,.''0l.».Jl 8,; IS' Queen's funeral, his appointment as a British Field- Marshal, Prop, reserve to UabiUiio8..D.o. 44 n-it) HiH *•> Bank rate percent. 5 4 •• and the conferring upon his of ,,/a m eldest son of a knighthood JousolB. ax per cent 9«*s lOO^ lU ii**:!* the Garter have all made a deep impression. The general iUTer 87«d. 97 11-iad. «^li„ t** ^:^^1» nearlne-Honse returns IBO.IU.OOO 187.fl!{0,000 2-.:9.77w,000 IW.64I.0«0 conviction both here and on the Contment is that an under- • January 81. — . : : . w
CHRONICLE. [Vol. LX2>II. 322 THE FOBEIOH IMPOBT8. follows under date of Messrs. Pixley & Abell write as 1898. For week. 1901. 1900. 1899. '^Go\f-Exc6ptin«afeworderB^^^^^^ Slfe i°l\ $2,503,731 $2,906,31T likely that tneBanK or ^uM» Ck>odB....l $2,503,764 $2,586,296 gold, and it appears j^ ^^ Dry 6,297,900 bullion moyem^^^^^^ 7,297,051 9,009,829 9,467,601 SrrivalR. There have been no Arrivals Oen'l mer'dlee ^17,000 West $9,204,217 5Se«a'r9l"J^orBlve?'^?'t^So^ot.T Vera Craz, ; Total 89,800.816 $11,596,125 $11,971,332 'rally to Since Jan. 1 $14,802,162 the Dry Goods $14,151,428 $16,974,910 $14,237,635 side at once re-oom- 44,088,359 36,876,471 proved very «^o«. Gen'l mer'dlse 47,212,281 46,762,037 2897e4; ^'^'^.f^X'spte ofor sieauy^sradTparohases bV^^^^ menced their seUing orders. lu dropped 851,678,633 if 63.736,947 558,325,994 IndianGovernmeBttheprlce^^^^^ Total 6 weeks.. ff 61,363.709 point there was a large of to 27:»id. At this further ground with a better statement of the exports (exclusive the reaction has gained The following is a and to-day The market closes firm at 27i5i td. York to foreign ports for the . . ^_ mt 1. Arrl- specie) from the port of New date. 000; week ending Feb. 11, and from January 1 to 000; FOB THE WEEK. total, £298,000. Shipments BXPOBTB FKOM NEW YORK business these coin are quite *''M6xfcin^Donar8-In the absence of 1901. 1900. 1899. 1898. "^ reported as follows; quotations for bullion are $10,476,608 $9,631,143 $7,618,664 $7,918,861 The For the week.. 45,916,704 Prev. reported 56,987,782 57,438,939 52,871,887 Jan. Jan. Jan. Jan. 8ILVEB. $53,835.565 GOU). Standard. 31. 24. Total 6 weeks. $67.464,390 $87.070.082 $60,490,551 Standard. 31. 24. London London imports of d. d. The following table shows the exports and $. d. d. 27 28I3 Feb. y silver, fine... oz ''s of York for the week ending oz. 77 954 7710»fl Bar specie at the port New Bar gold, fine — 2 mo. delivery 27iBif 28ifl corresponding periods tn ooln...oz. 76 5 76 5 Do and since Jan. 1, 1901, and for the D. S. gold silver, contain'g ooin.oz. 76 5 76 Bar Germ'n gold 5 grs. gold.oz 283e 29 1900 and 1899. coln.oz. 76 5 76 do French gold 4 grs. gold.oz. 288i6 28i3,e TOBK. oz. 76 4 76 do BXFOBI8 AND IMPOBT8 OF 8PB0IB AT KEW Japanese yen — do 3 grs. gold.oz 28 28 Bs Cake silver oz, 30lie 30% Exports. Importt. dollars. oz Nom. Nom. Mexican Bold. Week. Since Jan.l. Week. Since Jan.l. shows the imports of cereal produce into the The following of the the first twenty-two weeks Great Britain ^. $ 9 United Kingdom during 9 '1,936 "i'.93'd previous seasons France ...... 8,095,829 season compared with ...... new Germanv . .... 1MPOBT8 "6,606 '37,697 185,577 West Indies . 48,246 1897-98. 29,340 1900-01. 1899-00. 1898-99. Mexico 4,000 10,000 5,120 25,949,600 26,018,050 27,365,350 America 10,000 30,804 96,559 Importsofwheat,owt.30,346,500 10,095,294 South 11,565 8,437,600 14,484,500 All other countries. 2,200 Barley ^]i'?^Hna 7,750,100 7,265,970 6,314,620 Oata 9.451,600 1,239,530 $324,971 1,243.000 1,466,600 1,120,870 Total 1901 810,000 88,164,069 $77,151 Peal ::;.:.. 1,378,270 48.261 669,661 bI^b 818,740 785,500 1,020,120 Total 1900 548,935 5,721,281 27,522,300 22,557,860 19,679,060 Total 1899 4,000 1,783,000 215,674 2,870,856 |dl^ncorn.._.._._._.._..24.300.400 9.309,700 9,646,530 8,810,180 Exports. Imports. (exclusive of stocks on Supplies available for consumption Silver. Week. SinceJan.l. Week. SinceJan.l. September 1): ^^^^^^ 1899-00. 1898-99. 1897-98. 25,949,600 26,018,050 27,365,350 Great Britain $1,280,240 $5,805,825 9 9 Wheatlmported, owt.30,340,500 3.883 3,883 9,309,700 9,646,530 8,810,180 France ...... 179,868 Imports of flour ,?'6^^']^^0 12,683,665 900 home-grown. 11, I8^,7b» 14,415,285 14,586,635 fl-ftrmaiiv ...... 35,9'2'2 Sales of West Indies "5,919 56,933 "i',800 48,859,195 1.000 82,352 271,438 51,209.368 49,674,585 50,251,215 Mexico ...... Total South America 41,667 108,751 lOd. 25a. lOd. 268. 7d. 34s. 6d. ""766 2,660 Aver.prloewheat,week.26i. 27b. Od. 33s. 8d. All other countries price, season. 278. 6d. 26b. Od. Average , , a. a j wheat, flour and $6,044,292 $129,702 $422,654 following shows the quantities of Total 1901 $1,286,159 The Total 1900 1,152,020 5,538,757 124,994 441,661 maize afloat to the United Kingdom: 5,930,898 51,184 358,052 1899. Total 1899 1,019.825 TMs week. La^l week, 1900. 1,595,000 1,773,000 ...... qrs).....qrs Wheat 1 22.685.000685,000^\ 325,000 592,000 EXPENDITURES.—Through the i ^'glSiooO liOVERNMKNT REVENUE AND Flour, equal to qrs. i ' 715,000 790,000 bjo.uwa^rs ooo 560,000 Ualze qrs... courtesy of the Secretary of the Treasury, we are enabled to Cable. Ensllali Financial Markets—Per place before our readers to-day the details of Government securities, etc., at London The daily closing quotations for receipts and disbursements for the month of January. as follows for the week endmg Feb. 15. are reported by ca1)le From previous returns we obtain the figures for previous manner complete the statement for the Thur$. Fri. months, and in that Loin>ON. Sat. Mon, Tues. Wed. geven months of the fiscal years 1900-1901 and 1899-1900. 271B16 2810 d. 2818 281,6 28 Jan. 26, Sliver, per ounce 283,fl 9714 •9719 For statement of December, 1900, see Chronicle, ots. 96111. 96'8 9678 96i5ie Consols. , new. 2 %, p. 97I1. 9738 9758 Feb. 1900, For account 96l8i(. 97 97 page 167, for that of January, 1900, see 17, 102-25 02-37ifl 102*35 102-40 02321a 02-2 21a l901, Fr'ch rentesdnParlB) fr. 7058 7138 7078 70ifl 7138 70% page 309. . Bpanlsh 4s 9I9 9 918 Anaconda Mining 958 938 91a RECEIPTS AND DISBURSEMENTS (000 omitted.) 58 59I4 57 581* Top. & Santa Fe.. 5558 58 -<«l 00 CO -M '« ^ Atch. 9014 91 COO '-t- 90^ 90'e 91% t* CO dOCO <^ Preferred 94ig X91l4 91% 00 93''e 93 Baltimore & Ohio ef i-T ] CO -V CaOOOOQoToo lO oo 91i« 90 9014 x88% r^OS^X O WC9OX03 >o OC- f o 0» xa> Preferred 76I3 76'4 76ifl 76I4 76 OoWTrli'i-.'o' CCOtji'' -h'oT Pennsylvania.. ... 76ifl I714 17i« 171a 16'8 1738 WO) *Phlla. & Read 1714 lOr-lXt-COlO "> OkX too 3838 x37''8 C.C. ^ 0040 .. wO I coo XX Read. .Ist pref. 38% 380b .*05a» c-osinaixc. cooooacooac- •PMla. & XIOIO X >->_o»^ on 090 221* 22% 2214 22% EBRUAKY 16, 1901.J THE CHRONICLE. 323 New York City Clearing Honse Banks.—Statement of New York City, Boston & Philadelphia Banks.—Below oondition for the week ending Feb. 9, based on average of we furnish a summary of the weekly returns of the Clearing daily results. We omit two ciphers (00) in all cases. House Banks of New York City, Boston and Philadelphia. figures do not include results for lU- The New York the non- BANKS Capital. SurpdM. lioans. Specie. Legals. Depotiti. -i- member banks. 9 $ $ $ , * \p.o. BankolN.T.... 2,000,0 2,074,3 16,078,0 3,611,0 l,165,o! 18,471,0 Capital ic 28-4 Specie. Legals. Surplus. Loans. \ Deposits.* Oirc'Vn. OUarinoi. ManJbattan Co... 2,060,0 2,114,4 20,911,0 6,873,0 2,049,0 26,699,0 ,30-8 Bakes. Merobuuts' 2,000,0 1,190,9 14,946,6 2,iH87,6l 1,648,0 17,67H,0 26' Ifeohanlos' 2,000,0 2,261,4 13,766,0 2,799,0 638,01 14,205,0 N. \.» 9 $ $ I $ $ $ $ 24 1 830,873, 1848628 73.060.6 921,787,2 30,973,2 Ameiioa 1,600,0 2,980,9 23,921,6 4,S88,8 2,408,6 28.042.6 Jan. 19.. 138,480,2 17300454 280 " 166.480,2 841,367, 1917102 73,446,0 937,423.0 81,253.2 14242722 Fbenlx 1,000,0 241,3 6,020,0 1,361,0 123,0 6,234,0 281 26. 2.. 166.480.2 871,80S, 19282601 74.493.2 989,917,6 31.319,1 14905974 City 10,000,0 6,490,3 122,036,4 32,179,71 5,998,7 140,9H6,9 270 Feb. 9.. 168.480,2 896,289, 19589041 73.120.7 994,593,9 31,331,9 Obemloal 300,0 6,881,7 26,820,0 8,436,9 2,607,9' 27,958,0 32-3 16809979 Merchants' Ex.. 600,0 224,6 6.al9,6 797,6 564,1 6,855,6 23 Boh.* 26.. 67,632,9 185,323 13.889,0 10.710,0 209,292.0 8,046,0 128,783,4 Oallatln 1,000,0 1,873.3 8,791,6 1,040,8 819,9 7.058.8 Jan. 26:i Feb. 2.. 57,832,9 185,048, 13,571,0 10,872.0 208,380,0 8,111,0 123,399,8 Bntoh.A Drov'8' 300,0 86,6 1,058,9 416,0 36,4 1.239,6; 36-4 9.. 57,632,91 186,414, 0112,869,0 9,861,0 208,474,0 6,120,0 128,129,8 Meoh.ifc Traders' 400,0 124,b 2,380,0 260,0 248,0 2.807.0 19-1 Oreenwloh 200,0 173,6 917,8 98,2 120,3 782,0 Phtla.* 280 Jan. 26.. 38,716,3! 163,932, 69,841,0 199,020,0 9,972,0 96.148,8 Leather MTrs.. 800,0 486,11 4,640,1 1.8J7,2 289,0 6.444.9 38-4 Feb. 2.. 38,716,8 184,180, 68,758,0 198,198,0 9,997,0 99,884,3 Seventh 300,0 216,4 3,438,2 987,9 810,8 4.804.1 27-0 9.. 88,716,3! 165.652, 68.836,0 199,641,0 10,014,0 94,838,9 Btateof N. T.... 1,200,0 643,3 4,936,6 916,1 362,9 4.781.1 27-1 American Bxoh. 6,000,0 2.940,1 29,211,0 6,380,0 1,4.')0,0 24,280,0 281 • We omit two ciphers in all iheae llgures. Oommerce 10,000,0 6,e:J6,0| 76,686.9 7,691,6 6,324,1 86,2:^7.71 21-0 + Incladlns' for Boston and Philadelphia tbe Item " doe to other banks." Broadway 1,000,0 1,603,9' 6,802,6 1,354,8 310,9 6,3H3,3 30-9 Mercantile 1,000,0 1,239,2 14,381,6 2,331,6 1,650,1 15,243,0 26-1 Paolflo 422,7 484,7 2,791.1 379,8 486,7 8.611,7! a4-6 Auction Sales.—Among other securities the following, not Kepahllo 1,600,0 1,140,8 20,708,1 4,968,3 1,209,0 23.667.7 261 Chatham 460,0 994,6 6,688,0 940,0 971,8 7,102,9 26-9 regularly dealt in at the Board, were recently sold at anctioQ. People's 200,0 337,3 2,104,6 176.8 683,7 2,707,9 28-0 North America.. 1,000,0 784,9 14,938,6 3.089,8 1,164,1 18.733,2 26-4 By Messrs. Adrian H. Muller & Son. Hanover 3,000,0 6,178,9 49,692,6 8,134,2 6,838.2 63,740,2 26-6 Slocks. Botids. Irving 600,0 468,1 3,847,0 827,8 617,4 4,879,0 82-9 Fourth National Bank.. 186 41,900TheClnolnnatl OltUeus' 600,0 407,8 8,366,2 662,1 207,2 3.680.0 23-3 10 | Nassaa 600,0 274,9 2,814,3 361,6 610.8 3,300,9, •^5-9 1 Membership N. Y. Prod- North. RR. Co. pref. Market* Fnlton 900,0 1,047,6 6,662,6 1,600,0 761,0 7.380.2 307 uce Excbau^^e $134 26,100 The Cincinnati Shoe <& Leather. 1,000,0 206,8 3.740,3 871.1 268,8 4,228,61 28-9 80 Oriental Bunk 190^ North. RR. Co.,com. Com Exchange. 1,400,0 1,807,2 21,066,0 3,881,0 2,232,0 24,930,0 24-3 1 Goodwin Oar Co 9 1,500 Jack-son & Cin. Continental 1,000,0 618,4 4,613.8 907,6 603,4 6.397.1 281 20Hoiue Insurance Co 253ia Rv. Co., com Oriental 300,0 401,0 2,068,0 187,0 418,0 2,110,0, 28-6 32 North Amer. Tr. Oo.2405i3-24'i 15,000 Detroit Tol. & . Imp't'r8' Vol. 324 THE CHRONICLE. I LXXII. grain for payment, 4 83^(@4 84; cotton for payment, 4 83J^ ganfejers' ^ia^jelte. @4 83)^; cotton for acceptance, 4 83%@i 84. The following were tne rates of aomestio exchange on DIVIDBNDS. New York at the under-mentioned cities to-day; Savannah, buying 1^ discount, selling par; Charleston, buying par, Per When Books closed. Name of Company. selling 1^ premium ; New Orleans, bank, $1 00 premium Oeni. Payable (Days inclusive.) commercial, par; Chicago, 10c. discount ; St Louis, 15c. per RallroadM (Steam). $1,000 discount; San Francisco, ITJ^c. per $100 premium. Canadian Paoltlc, com 2ifl Apr. 1 Mar. 9 to Apr. 1 " do pref 2 Apr. 1 Mar. 9 to Apr. 1 United States Bonds.—Sales of Government bonds at the Del. A Bound Brook, gu. (qu.).. Feb. 20 Holders of rec. Feb. 15 board include $10,000 2s, coup., at 1053^ to 1055^; S25,000 2s, Ft. Wayne Jaikson, pret 2% Mar. 1 Feb. 21 to Mar. 1 & reg., at 105i^: $69,100 3s, coup., at llOi^ to 111, and $1,000 4s, Mexican Northern (quar.) 1 Mar. 2 Holders of reo. Feb. 20 " do (extra) ^4 Mar. 2 Holders of rec. Feb. 20 coup., at 113^. The following are the daily closing quo- North Pennsylvania (quar.) 2 Feb. 25 Feb. 14 to Feb. 19 tations: f'*- yearly ramjc see seventh page follounnQ. Street KallwHym. American Railways. Plilla 1 Mar. 15 Mar. 1 to Mar. 15 Interest Feb. Feb. Feb. Feb. Feb. Feb. Metropolitan West t FEB. 16, 1901.] THE CHRONICLE.-STOCK prices (3 pages) PAb£ 1. 825 New York Stock Ex-change—A Daily, Weekly and Yearly Record. Bangt for year aTOOKS-HIOBBBT AND LOWEHI SALB PBIOKB. /Balei 1901. i| Bange for pm- STOCKS. oftKe On batUof too-ih'relots out year (1900). TTednecdav Saturday, Monday, Tueiday, Ttvur$day, EXOH. Week. Feb. 9. Feb. 11. Feb. 12. /-'e6. 13. Feb. 11 /•'tb. lo. N. Y. STOCK Sharet Lowttl. Hiffhett. Loioetl. HigHuU Railroad Stocks. •80 23 80 83 •30 23 128 Jan 8 laa Jan 8 18 Sep ... •57 58 •87 68 87 67 /V Do pref. "abo 5(i94Jan 8 58)4Jan 8 40%J'ly 59 Deo S4Mi 6«M 6594 67 68)4 58 = '>< g'^ 5894 57% Atoh. Topaka * 8anU Fe. 334,545 43XJaD 21 68 Feb 13 1894Jan 4894 I^eo %»% 89 88% Htf)4 88 90 8794 88% 88)4 8n->4 Do pref 9a,7«6;x82)4Jar. 81 0O94Jan 8 58)4Jan 8()%Oeo 91% ean 0O«4 98 9094 93 90)4 9294 90% 919* r>alt.401ilo,TOt.tr.oertfi. 19,951 8:9 80 20)4 18% 80% . 13.806 16 3 3:9 »treet RatlTray. Bid. Aik. Btreet Railway. Bid. Ask. Street RallTraye. Bid. Ask. Street Railway. Bid. Aik '43.. iios no .nHW TOKK CITY. Chrlst'p'r4 10th 8t-Stook 175 183 Second Arenae— stook. . 108 801 Weatohest 1st Si JAJ .i.eeok St 4 Fal F—Stook. 36 37 Col4^th Aye 6s-Sii« Stock Hxohl 1st. lit men &s 1909. .M4N {107 - - • » lit mon 4i 1950... J4J 100 108 Dry D B B 4 Bat— Stock. 130 135 Consol. 6s, 1948.. .F4A H18 110 BBOOKLTN. B'way 4 7th Are—Stook. 835 840 1st gold 6i 1932... J4D 1117 118 Sixth Avenue— Stook 800 810 AUan-ATe.,6s lOOO.AAO {107 100 193i .. .AAO in lis /It mor 5s 1904... J4D (108% Sorlp 6i 1914 F4A 101 103 Son Bonier 5s 1945. . JAJ Hll 115 Con 6s g Bxo hint. Sd mor Ss 1914.. ..J4J 110 113 HlRhth Arenne—Stook. . 800 400 So Fer 1st 5s 1919. .A40 no8 Impt 5t— S«« Stook 103 (ion 5i 1948—8m Stook HxobI lit. Scrip 6i 1914 105 109 Third Areune-5« Stock Sioh list. B.B. AW.B.5S1933.AAO 101% Stock.... 84t • •eti B'waySar'lit6sga.l924 J115 116 43d A Or 3t Fer— Stook. . 395 403 Tarry W PAM 5s.l9a8 107 100 Brooklyn City— 841 Mint as rental. 1905 1108% 103% 42d St Man A St N Ato.. 68 73 Yonkers St RR 5s 104% 107 Cons 5s—S«« Stoo* Bxo banire lilt. '96 BklynCrosstn5sl908.JAJ lOS • • • • ntral Orosstown—Stook 865 1st mort 6s 1910. .M4S 118% 116 88th 4 39th SU 1st 5s. . {118% 114% 100 «t M8s 1993 M4N ;i85 130 8d lnoome6i 1915. JAJ 99 100 Twenty-Third 8t—Stook. 400 410 Bklnntrtilsl 5s 1941AAO lOS S*» 8t ok Bx. lilt. Cen Pk N 4 91t—Stock 800 803 Lex At4 Par ¥ Ss-Sm Stk Hxch 1 iBt. Deb 6i 1908 JAJ 103 106 8'kyn Q Co.A Snb— ^' Ht [.1st ..0ni0l7i 1008 J4D 104% 106% Ninth Arenae— Stook 108 806 Dnlon By lit 6s '4a.F4A 111 113% Bklm Rap Tran.—Sx Ok . . . . .,),...,. 326 THE CHRONICLE-STOCK PEICES (2 pages) Page 2. [Vol. LXXII. STOOKS—HIQHEaT AND LOWEST SALE PRICES. Sales Range for year 1901. Range for pre- STOCKS. of the On basisof loo-sh're lots vious year (1900). Saturday, Monday, Tuesday, Wedneiday Thurgday, Friday, Week. N. Y. STOCK Feb. 9. Feb. 11. Feb. 12. Feb. 13 Feb. 14. Feb. 15. EXCH. Shares Lowest. Highest. Lowest. Highest •76 ••••«• ••••ta •76 •76 75 85 Bio Orand* WMtero 66 Feb 6 70 Feb 6 43%Jan 80 Deo •98 96 •93 95 93 95 Do pref. 94%Feb 7 94%Feb 7 80 Jan 95%Deo la 14M 1*M 10 13X 10% 11 ll5i im St. J. AG. III. Tot.tr. oti. 11,240 7%Jan 31 14% Feb 9 6 May 8%Deo 68 60 66% 6694 Do 2,441 11^ 67^ 73 66 66 Ittpref. 58 Jan 39 78 Feb ti 38%May 64%Deo 23 SO 86% 26Ji 2454 8B9« 85% a6% Do 9d pref. 6,883 80 Jan 4 80 Feb 11 1196J'ne 81%Dec S^ «8H 66 >a 66H 67« SS« 67% 66% 67 861a 669< Law. & Adirondack .. 3,800 67 Jan 89 67%Feb 11 31 8a« 33 359« 89 35% Bt. li. h a. JTr., TOt. tr. otfi. 69,550 ai^aJan 4 15 81Jt IS** 88M 85%Feb 896J'ce 84%Deo •80 83 Bl»4 81« 83 82 82% 8lia 82% Do 1st pref. 3,300 79 Jan 2 88%Feb 16 64 Sep 78 Deo 60 5P« 69 69^ 6994 01« 61 65 x88 64 Do 3d pref. 38,185 6 3%Jan 4 tt6 Feb 14 31%J'ne 55 Deo S6M 8Hi< aeji 27^ 28H 27H 289g 87% 2894 2754 8t.Lonli Soathwattem... 80,420 17 Jan 4 2794 Feb 13 894J'ne 18)iDec 6BK 66 67H 56 e7H 6594 57 68 67 Do prof. 28,460 41iaJan 3 67%Feb n 81%J'ne 45)4Dec 47« 48 47M 47% *0H 47% 48% 47% 45% 4654 Sontlieni PaolfloOo 121,625 4 094 Jan 4 49)4Jan 81 3096J'ne 4554 Deo a89« 94 23i» 83% 28% 84 2 3)4 33 2'^94 23>4 Sonthem, rotlng tr. otfi.. 53,689 18 Jau 21 24i,Feb 6 1096J'ne 8396Deo 75»^ 27,210 76H 75H 76H 75% 78% 74% 75% 74% Do pref. , TOt. tr. otf• 67%Jan 21 7 7% Feb 6 49%J'ne 73%Deo 30« 89M 30>4 89H 30% 89 89% 89% 29% Tvx&Mh Paolllo ,. 65,809 88)(Jan S 31 Feb 6 13%J'ne 8^94 Dec IS8 128 128 182 188 123 120 120 181 121 hlrdATenue(N. T.)..., 650 118 Jan 8 120 Wan 9 45%Mar 135%Jan 68% 6SH 68 68 Twin City Rapid Tranilt. 716 659(Jan 21 71 Wan 88 61%J'ly 70%Deo Do pref. i47)tJan SO 147%Jan 30 138 Jan 146 Deo 04^ OS^ U4M ("BH 93% 96H 93% 95)4 04 95% Union Paolflo B7 268,656 78!4Jan 4 97% Feb 7 4496Jan 8l96Deo 87 89 8796 8H^ 8754 89)4 87% 8894 SbX 88% Do ...pref. 86,791 8196Jan 81 9094 Feb 7 70%J'ne 8696Dea 17« 19J4 17% IBX 17)4 19% 17% 18!4 17% 1H% ^[Tabaih 43,370 11)6Jan b 19HFeb 8 e%Mar 14 Deo S3M 3t9< 88Ji 34 31% 84 81% 89% 31 82 ™^ Do pref. 59.317 2854Jan 4 S4%Feb 8 16 Sen 37 Deo 16>4 14 14 35,896 14K 159d 16 15K 14% 189< l^H W^heelln« & L. a., new . . 11 96 Jan 31 l-9iFeb b 8 J'ne 18%Dec 58 60 S8 69H 67% 57 67)4 57 6b Do Ittpref. 8,«50 eSv^Feb 1 80 Feb 7 44)4 Sep 5 8%Apr saw 34H 33^ 34^ 81% 33% 30)4 31)4 80% 83)4 Do 2d pref. 23,908 a7ialau 21 3496Feb 8 3 196J'ne 33%Mar 17 17 17« 18H 18% 19 18% 19)4 lfc% im Wlioon. Central, new 20,36f 14 Wan 81 IVHFeb 14 10 Sep 2094Mar «B 42^ 4ajt 49M 44 45% 44 45% 4894 4494 Do pref. 13,860 38 la Tan 17 4594Jan 31 30 Sep 67 Apr m«cellan's Stooka. •166 176 •155 176 165 180 1180 161 155 175 AdamiBzprau.,.. 80 (145 Jan 8 5163 Feb 111 Jan 1160 Not 98 91^ 92M 90 92 89% 00)4 8794 90% malgamated Copper.. 40,353 8394Jan 31 9494Jan 8954 Deo 99%N0T at 83^ 22^ 82H 3154 82 819i 8196 81% 81% American Car&Foandry. 1,93; ziu Jan 21 2 3%Jan 12% J an 3696N0V 71X 71 71^ 71% 71% 71 71 71 71 Do pref. 8,84c i87 Jan IH 7 8 Wan 6796J'ne 72 Dec •30H ll"" 30M SOM 30 30% 89% 89T* 30 30 A.merlcan Cotton Oil 3,560 ae Wan 18 31 Wan 30 J'ne 3 794 Apr •88 »0 88 88 •8794 8894 87% 87% •8794 8794 Do pref. SJO 87% Feb 1« 81 Wan 8894 Sep 100 Apr •84 34 ^35 3C0 36 36 36 36 36 36 38 Amenoan Dlitrlot Tel . . , 34 Jan SO 36 Feb 24%Jan 37 Not 1186 188 • 185 188 •186 190 185 185 188% 195 Amerioan Bzpreu. ....>•• l,76f I1H9 Jan 1« 195 Feb IB 1143 Mai 191 Deo 86 38?i seM sen 36)4 38% 369^ 38T« 36% 389( American loe 4,332 3B%Feb 8 41%Jan 9 37%J'ne 49%Apr 68M 68M 6894 6894 68% 68% 68 69 Do pref. 450 t8%Feb 70 Jan 6 60%J'ne 78%Feb 7X ^9i 7 694 e» 7 7 7 Amerioan Llnieed 3,183 5)tJan 24 SVtFeb 7 6 Nov 16%Feb 33H S4 32^ S3 at'* 34% 34 85 84% 36 Do pref. 3,490 31 Jan 34 S7iaFeb 6 34%Deo 60 Feb 4» 49^ 6 454 494 Amerioan Malting, 600 4i2Feb 4 69«Feb 11 3 J'ne 794Jan •84 26 25 25 85 84% 25 34% 26 Do pref. 185 34 Feb 1 2-; Wan 7 18%J'ne 31%Jan eoH 62 B5M 60>9 55 6894 66% 689i 5694 6h% Amer.Smelting & Refining 187,799 SSiaJan a eSWan 15 34%J'ne 68)iDeo 99 94H 98 94% 96% 95 96 94 98 Do pref. 43,835 94 Feb 15 lOo Jan 16 85 J'ne 99 Nov 32 33X 31« 38% 30 31)4 30)4 81 lo 80% 3196 Amerioan Steal Hoop 13,470 23 Jan 18 3394Jan 2 17 J'ne 60%Feb 76« 78 76H 77 76 77 75% 77 77% 78 Do pref. 3,150 69 Jan 18 7854Feb 7 6 4% Sep 86 Feb 53« 5m 63^ 60J4 639« 5094 68 6112 53?^ Amer. Steel & Wire (new) 168,140 38 Jan 21 5j%Feb 11 88%J ne 69%Apr 93H 94 9m 95 93)4 94 93% m% 94 9«% Do pref. 11,984 839 • Bid and asked prices ; no sales on this day. i Less than 100 shares. t Bx 100 p. 0. stook diT. t Bx rights. OUTSIDE SECURITIES (Given at foot of 7 oonskoutivb VA.Qm),~-82RBBl RAILWAYS, die. Btr«at Rallwaya. Bid. Ask. Streat Rallwaya. Bid. Ask. Street Rallwaya. Bid. Ask. Street Railways. Bid. Ask. 8«» hlla. list. i^ynnAUos-lsi&t 24.JAD 118% Oonay Island it Brooklyn. 386 • • • aaa Oolum Ry—Con 5s.— P J118% la lBt6s 1903 J&J 108 103 OTHBB CITIBS. Crosit'wn— 1st 6s.. illu Mlnneap St Ry-5s ' 19.J&J {108 110 Its oertf lndbtl908.J&J 100 Buffalo Street By— Grand Rapids By.... 88 31 New Orleans City By 83 84 79 98 B'kC.&New6s'39.J&J 114% •• aaat 1st oonsol 5i 1931. F&A 1118% Pref 811a Preferred 96 Qhr.8t.ftN9W lst6s'0eF&A 104 106 Deb 6s 1917 A40 1107% 110 J C Hob & Paterson. 17 19 North Chicago Str— Stook 800 8t)2 QHp't A Lorimer St. 1st 6s 106 Chicago City RR—Stook. 959 860 4s K Nov 1 1949. .M&N 80% 81 Ist 6t 1908-18 J^fcJ 107% 108% Kings Co. HlOTated.— Indianapolis Str'tRy—Sm Phlla. lilt. Kansas City Bl 6s.. 1928 1115 180 North Jersey St.—Stock. 34 86 i 91 93 Bonds sav, lat 4s 1040—Sm Stook Bxoh. list. Cleveland City Ry , 108 102% Guar 4s 1983 J&J 88% JiMsau Blao pref 76 80 Cleve City-lst 5s '09. JJtJ 108% 106% liAke St (Chlc)BleT-Stock 10 lOM Pat Ry con 6s 198t .J&D 1130 1938 J&J 100 10094 8d 6s 1914 A&O 1106 108 CI1944 A&O 110 114 Cleveland Blectrlc By . . . 83 84% deb 6s 180 '33 lit 41 1961 J&J i 08 Con 5s 1913 M&S 104 LonisT St Ry-6sl980J&J 1118 rrov A Pawt'ok-lst 6s {lis 116 lTawWmb'g&Fllstex.4%s 104 106 Columbus (O) St By...... 80 41 Common. • . t 76 80 I Buyer pays aoomad inter est. St*lnwayltteil083. ..3&i «iie% 118 Preferred 90% 101 Preferred 106 118 . OU8DJ . 1 N . 91 . pages) Paob 1. Feb. 16, 1901.] THE CHR0N1CLE.-B0ND PRICES (5 327 BONDS Print Week't Bangt BONDS. Price Weelt Friday, R^ngeor Tear 8l Friday, Range or Is Tear '-•2 N. EXCfHAJ^QE W.Y.STOOK EXCHANGE Feb. 15. Ltut Sale. 1800. Y. STOCK Feb. 15. L-vtBaU. 1900. ERDDia FEB. 15. WlEK ElTDtRO FEB. 15. WUK Bia. Aih. Low. High. Ho. Low^High Bid. Attc. Low. High. No. Low. Sigh a Cent. aeeSoHj. Cblo Milwaukee & 8t Paul— Alabam 185 Bale 185 185 la Mid. Seee»'.Fla.&W. M4 8tP— lst7s5gRD.'02 J -J 168% 17t 1902 Apr'OO A.lbany A Snsq. S«« D 4 H lst7B « gold liD.... J -J 172% |173%17S)« iaiegheny Val. S«ePeimCo. lltC4M7s 1903 J -J 190 Jan.'01 il66%15l^ 71.1905 _ 185 185 AJletj. * W. See BR. & P. Cblo Mil A 8t Peon J-J 166 lb594 Terminal gold 5i 1914 J-Jj- J 114% 118% Deo'OO 113% 116% 114 AxEnArborUU4. 1»«5 9-JJ OflVi 98 96 96 e 90 87 aengold4iserleiA...1989 J-JI 114% Bale 111)4 |109 lli9i Atoh T * 8 Fe gen « 4i. .I»e5 A- 103M Bale lO.S^ 108K 498 98K 108 Registered 1 989 Q-JJ 105%Fab'98 B«Klltere Iowa DlT link fd Si. ..1919 A-O 119 , 11894 Not'OO 113% 117 OInd * W litpf 5a...l9S8 4i 1919A-0 106H, 108 Feb '01 103 107 Peo * But lit oon 4i. 1040 n 98% Bale 97% 98% 16 84% 96 Ifobraika Kzten 4i .... 1 927 M-N nan 11314 Feb '01 10894 118 Inoomeii.... 1000 63% Bale 61% 64 869 84 60 BegUtered 1927 m-N 11 IH J'ne'99 «. 1 Lor 4 Wh oon lit 61. 1033 110 111 Bep.'00 106 111 Boatfiweitem DlT 4i.. 1931 M-8 lOOK Oct.'00 100% 109 aoT * Bfanttta. Bt* Pa BR. OonTertlble Si 1 90 3 M- 8 141)4 141)4 11 120% 140% Cler * Mahon Yal g Bi. . 1038 J -J 138 ISO Jan.'01 198 139 Debentnre Si. 1918 M-N mu. ... 11114 11114 S 108% 118 BagUtared 1038 4a-J Han48tJoi con 61.. .1911 ni-B '132^ 188M 18314 Jan.'01 118% 188 ClOT 4 Pitta. Stt Pann Oo. - flkloABIlL litif onrai.1907 J D nan... 113 113 113 lie Col Mldl'd— lit g 3-4i. . . 1047 r- J 81% Bala 81 88% 870 •9 80% BmaU 1907 J-D lltg 4i 1047 I . J 81 80% 88 lift 71% 81 IfteongSi. 1984 A-O 186 187W 18714 13 188% 138 Col 4 Boa lit g 4s 1939 F-A 86 Bala se 87% 560 Q«neonlit5i. 1987 M- II 130 Bale 120 130 13 118 117 OolAOthAT. SMMetStBy. BMtitered 1987 M-N 115 Ang'OO 115 116 Oolom A GraanT. Btt Bo By. Okie 4 IndO By 1ft Si 1986 J -J 118« 113)iJan.'01 106% 116% Col 4 H Yal. Btt Hook YaL Okioago 4 Hrlou Sm Hrtc OolOonn4Tarm. SmN4W Oh lB4Loali-R«fgOl.l947J- 133 119 Feb '01 111% ISO Oonn 4 Pai RIts lit g 4i.'48 A- Befnndlng B Si 1047 J- ioe% Bale 106% 106% SO 100 107 Dak *Gt Bo. 8m CM *BtP. LooIitN A40b lit6i..'10 J - J 118 114 Jan.'OI 118 117 allai 4 Waco. S«« M K4T. I * No Price Friday; latest hid and asked this waek. tBonds due July. tDaeNor. UJaeJune. TDaeJan. IDae May. a Option aalai. bDaeAog. cDae April. JDoaOaC OUTSIDE 8ECURITIE3 (Given at foot of 7 consboutivb pages).— etuis' SECURITIES, dtc. • traat Railway. Bid. Ask. Gn« Securities. Bid. Ask. Gas Neenrltlea. Bid. Aik. Gaa (JleflarltteB. Bid. Aik. ok Roohester Ry ,., 30 33 .fToroester (MaislTr-O^m 84 86 N Y 4 Bast BUer Gas— Chicago Gas—Sm N T 8to ok Bx OonSi 1930 ,440 1109 Preferred 106 108 1st 5s 1944 J4J #113% 114 Cincinnati Gas 4 Coke. . 167 187% 8d6s 1933 J4D H8% Consol 5b 1946 J44 106 109 3ol Gas L 4 Haat—Com.. 46 SO 91% 70 Bo Bide Bl (Chlo)—Stock 100 101 NB'W YORK. Nor Un Ist 5b 1987.. M4N 109% 106 Preferred. .»< .... 76 1933 J4J {106 107 ByTaonieRap.Tr., 6b, 1046 1 99% 100 Cent Union Gas— 1st Si no8% 109% Standard Gai—Common. 130 188 lit 5s Qas(NJ)—Stok 10 15 Union Trao (Chlo) Com. 11 18 Oon Gas (NY)—Stock— Y atk Bzoh Preferred , 148 150 OjasoUd Preferred 80% Bl Bqult Gas- Ist 5s 1930 M4N 116 117 1st 5s 1930 ..J4J 80 •6 SO Onlted Rys (St L Transit) 34 3t% con. Ss 1938-S«« Stock Ex. 11 St. OTHBR CITIB8. Oonsol Gai (PltU). ... t>l55*« BIM Preferred 77% 78 Mntnal Gas 896 800 Baltimore ConsoUdat—f8« sBalt. JUlt Pref 50 li 119% 118 Oen4i 1934 J4J 1 90% 91% N. Amsterdam Gas— Bay Bute Gas— 1 1% Bonds 5s On'd Tr4Bleo(ProT)-8t'k loe 111 Ist oonsol 5s 108% 100 Boston UnltadGai Bonds- -BoBto nlilr Consum 0»* (J City)— «105% 105 Wast Chloago oi 99 9014 NY Eleo Lt Ht 4 Pow—N, Y.Stk. Bzoh Buffalo City Qai—Stock. e% 8 Ist 6b 1934 MAN interit. tPrloe per sta are. Oon a 5b 1936 M4N 1101% 101% Gold 6S-8M N. Y. 8U. Bxoh. LUt. lit 5i Bonds 1 73 76 lAnd 1 I . 32-5 THE CHRONICLR-BOND prices (5 pages) Pag. 3. [Vol. LXill. Pne4 Week's Bange Price WeeJI^t Bang* BONDS. Friday, Bangeor Tear BONDS. 51 fr.T.BTOOK W.Y. Friday, Bangeor Tear EXCHANGE Feb. 15. Last Sale. 1900. STOCK EXCHANGE i'eb. 15. Leui Bale. 1900. Wbbk Ewdvkq Fku. 15. Wbbk Emdimq Feb. 15. Bid. A$k. Low. High. Low. High Bid. Ask. Low. High. No. Lo^c.Miah 9*1 liMk h WMt«ni7i..ie07 128« 188H Jan.'01 188)4124)4 ni. Can. (Con)— JIorrliA Biiez Itt7t.l9\4 m-N 138 1S9V< Jaii.'01 136 141 StLoaliDlrg 3i. 1951 J-J 98 Deo'OO 90 98)4 7i 1871-1901 A-O 104)4 104H Feb '01 1U»T4 107)4 fi«glit«red 1961 J-J liteon guar 7t...... l816 J-D 138 18'^)4 Deo '00 188 141)4 Qo'O 8)41 .1951 J-J 108H 108 Jan.'01 99)4 10>" B«BUt«red 191& J-D 140 Ooi.'98 RegUtered 1851 J-J 101)4 Oot.'99 nYLaokAWlit«i..l93i J -J 136 180 Feb '01 138 188 Bprln« DiT lltg 3)41.1951 J -J 100 NoT'OO 100 100 Oomtmotlon 6i....<192S F-A 118 1»1X Deo '00 116 183 RegUtered 1961 J-J Term&impt 4 192S M-N 103K Oot.'00 103)4 106 Weitem Line litg 4i.l961 F-A 118)4, 118 118 111 114)4 8yr Blng 4 N Y Irt7i.l90e A-O U6H 120)4 llEWNoT'OO 118)4 133 „Reglitered 1951 F-A ••••«, WaiTan 8d7 1900 A-O 108 Ang'98 BeUeT4 0arlit6i....l923 J-D 183 121 Ang'OO 119)4 1>1 Del A H—litPa D1t7i.1917 M-8 160 Bale 146^ May'OO 146)4148" Oarb481itB4i 1932 M-B •• •••••• 90 Not'98 *fMM ResUttred 1917 M-8 160 ISO 80 141 141 Ohlo8tLftNOgBi..l961 J-D 127)4 12694 Feb.'01 186 187 All) & 8jilitOonKa7tl90e A-O 117X 117 Feb '01 117)4181 g^^Wd 1951 J-D 123% 123% 128 188 Reglit«r«d 1906 A-O 128 J'ne'99 *oj08)4i 1951 J-D 100 106 100)4 NoT'Oo 100 101 Gnu- gold eg 1906 A-O 112M 118 Deo'OO 11*194 lis' RegUtered 1951 J-D ... .. •••«•, B«g{iUr«d 1906 A-O 119)t 8alo 112)4 113M 118)4 118)4 MemDlTlitg4 1951 J-D 107)4 Jan.'01 106)4 106)4 Beni A Bar ltt7i 1931 M-N 161 147 Deo'OO 147 M8H 1»51 J-D 1931 161 a.T^*5^«<' RegUtered [«-N 161 Jan.'01 li8H 1489< 4i. . 103 102)4 Not'OO 108)4 108)4 ,Ji!'-k ^^iSK^^ g . 1931 M-8 Del BIT BB Bge. SmPbBR. IndDeoftW lltg 61... .1936 J -J 108)4 103)» Ang'OO 108)4 !•* Dea ft RGr 1st gold 7i.. 1900 M-N 108 Oct.'00 103)4 104i>4 J-J •••••t •••••• •••••• •••••« lstoong4i 1936 J - J *iosKios^ 102)4 103)4 96)4 10S«| }??nlAIaiitrefg6i..l948 A-O •••••• !•••• i08)4 Deo'OO 106)4 now lltOODgiKl 1936 J -J "107 109 108 Jan.'01 106 10994 Int ft Great Nor— ImproTement gold 6i.l938 J-D 10»M110)< 109)4 1C9)4 101)4108 M-N 13694 126H 185 186 6 119)4 18694 RloOSoga. /S««KloQrSo M-8 99 9»i9 »9>4 99)4 6 88 99)4 Dee M ft Ft D. fiM R & I P. ,**«?'**.,.. 1931 M-8 68)4 67 67 4 64 66 Dei Oh ft N W. 20 M ftMlnn. Sm }2I* £«5t'al litgold 61. 1938 J-D 116)4 116)4 116)4 HI 117)4 lit 6i. . .1917 109 Iowa Dei M Un By g M-H 110 108M Jan.'01 108)4 109)4 Midland. Sm Ch ft N W. DetMftTol. SMLBftMSo. •'•ffefwoBR. SMBrle. Det ft Maok litUeng 4i.l999 96 98)4 Nov 00 86 93)4 SMLSftMB. Oold 4i 1995 88 Sale 88 80 90 K"^-^^??- 89M 76)4 ^ni t^l?^, ^** Tol ft O C. Dnl ft Iron Range Iit6i.l937 A-O 111 111% Feb '01 107 111 fo^^^^l*^ Iitgag6i.l939 A-O RegUtered 1937 A-O Kan Oft Pao. SMMKftT 8d6 1916 J-J Kan C 80 IstgSi i960 A-O ' 69)4 70 8994 70 240 61 70 Dal Red W ft 8 lit g 51.1928 J -J 93M Feb.'99 Registered 1950 A-O •••••) •!•••• 63)4 Oot.'00 68)4 68)4 Dnl Bo Shore ft At g Si. 1937 J-J lis 118)4 Jan.'01 110 116 KanMsMld. SMBtLftBB Eaitof Minn. SMStPHftM. fentnokyC^t^SMLftN. aitTTaftGa. SM.BoRr- i«)k * pes M. SmC R I ft p. Igln Jol ft B lit g 5i. . . 194 M-N 110 109M Deo'OO 107)4 lis KnopHJe ft Ohio. a»t So Ry. 111 Lex ft B 8. S««CftO. 10 1*B I .•^'?i^'»AW Iltg6s.l987 J -J 18294 189)4 188H 116)4 Km Oort ft No. SMl>ehftNT. *-^ 8d gold 6s... 1941 J-J 117J4 117)4 ll-^li 14 losS i>o rtelltoztg4i 1947 M-N 121 118)4 Jan.'01 116)4 119 North Ohio 1st ga fs. .1946 A-O lis 116)t Jan.'0l 110 111 Sdextgold 6i 1919 M-S 128)4 181 Jan.'Ol 119)4119)4 liSftMS. Sm if Y Ceil" Sdeztgold 4UI 1933 M-S 117H 118 Jan.'01 11394116% LehTal(Pa) 00Ugts..l997 M-N 104 Ang'98 4th ezt gold 6l 1920 A-O 183 , 184 184 133)4 183)4 RegUtered 6i 1997 M-N 4 ....1928 J-D 110 , Sthextgold 106)4 Apr'99 ^ *.2 ^ l,"'«'»«*««"l»*0 J-J 110 11094 11094 106% 111)4 lit eoniol gold 7I.....1930 M-8 143 , 148 Feb '01 184)4 li3 J-J 110 109)4 Jau.'01 109 111 lit ooniol gold fd7l..l9a0 M-S 187« 143 Deo '98 A-O 114 118 J'ly'OO 118 IKM rle litoon g 4i pr bdi.l99e J-J 97 9nH 97 84 S7 9 A-O 109)4 Oot.'99 ...... ,,,,»4 Registered 1996 J-J 93ii May'99 LT Goal Co 1st gn g is.. 1983 J-J •••••• •«•••< 10394 NOT'99 .•••a, ».•••• 4i....l99e liteongenlteng J-J 86 81 86 188 f •• ..... »*«»M 67 86)4 J -J ••( "96" Registered 1996 J-J Leh ft N Y lit ga g 4s. ..1945 M-8 97 Jani'Ol 91)4 >8M Bnff N T ft Brie Iit7i.l916 J-D 189 140 Feb '99 M-8 Buff ft 8 W gold e 1908 J-J loe A-O ...... »«»**4 Small 1908 J-J Goldgaaros.t ..1914 A O 101)4 Sep.'99 Ohio ft Brie lit g Bi. . .1982 M-N 181 121 Jan.'01 114 183 I*5*HudR. Sm CenofNJ.. Jeff RB lit gn gold 61.1909 A-OJ 106% 9ale 106% 106% 10 104)4 104)4 Leh ft WUkesb. Sm Cent NJ. liong Dookoon gold 0i. 1936 A-O 137)4 1*0 138 Jan-'Ol 136)4 139)4 Leroy ft Owey Vau B»* Mo P. Coal ft BR lit gn ei.1922 M-N 111 Lex At 4 P F. Bm Met St Ry. Dock ft Imp lit onr6i.l913 I-J 116 118 8«p.'00 118 118 Long Dock. Sm Bri«. 6i.l946 N T ft Oreen L gag M-N • ••••• ••••«! 109 Uot.'98 •••••• ••••• Long Island— Small 1946 M-N •••••• •••••• ••••« Istoong 5s 1981 u- js 188)4 128 Jan-'Ol 180 188)4 Mid RRofNJ litgei..l910 A-O lis" 118 116)4 ISO lstoong4s .....1931 Q-Ji 103 N T 8 ft W—lit ref 61.1937 J -J 118)4 Bale 116« 116)4 107)4 111 Ganaral gold 4s 1988 J-D 108 104 104 114 30 Ve'ToT 8d gold 4Ui 1937 F-A 98 94 94 98 99)4 Ferry 1st gold 4)4s.„. 1983 M-8 104 106 Jan.'01 97)4 106 Generals 01...... 1940 F-A 102)4 Bale 108)4 102)4 90 106)4 Gold 4 t.. 1988 J-D 100 Oct '00 100 10«< Terminal lit g 5i.. . .1943 M-N 114 lib Apr'OO 108)4 US Unlfledg 4i 1949 M-8 98 100 98 9S)4 10 86 99 Regti 96.000 eaeh . 1943 H-N D«bentiiregoldSs....,lB84 J-D 95 Sale 96 95 S .....a ****** WUk&Bailltga g6il942 J-D 108 107)4 107)4 104 109 BklynftMonlstg6i.l811 M 119 •»•••• rle ft PlttB. See Pa Co. lst6s ...... 1911 M-8 108 110 Ang'OO 106 119 BsoanALSap. SMOftNW. NYBftMBoong6s..l985 A-O 108 107 Jan.'99 arekaSprlngi litg6i.lB33 F-A •••te* ••••• 61 NoT'97 N Yft R B 1st gSs... .1937 M-8 109 106 May'OO 106 106 t ft T H Iit0on6i.....l9ai J-J 184)4 12414 180 186)4 NorShblsteonggafs..'&8 0-0 110 113 Deo'OO 106 lis lit general gold Bi.,..lB48 A-O 107 108 Deo'OO 102)4 110 La ft Mo RlT. Bu Ohl ft Alt. MtYemonlite 1923 A-O ••••II ••••• .!••• tlft.. LonlsTlile ft NaibTille— SnU OoBr'oh litg 6i..l930 A-O •••••* ••••• ••••• General gold 6s...... 1980 j-D 119 Sale 119 119H lie 188 rftlndlit con ga g 6i.. 1026 J-J ••••I •••••i 106 Bep.'00 100 108 Sold 6s., .,.,.,.,,,....1987 M-N 118)4 118 Feb '01 107)4 iia)4 Fargo ft So. Sm Oh M ft BtP. Dnmedg4s ,..,.,.1940 j.j 101)4 Sale 10094 lOlH 67 96M 108 Flint ft Pere M g ei. ...1920 A-O 124 187 Feb '01 110 1S6 RegUtered 1940 j . j liteoniolgold 6I....1989 M-N 108 «••«• 108 Jan.'01 108 108)4 Ooll trust g 6s 1931 M-N 11194 Feb -01 II'O Pt HoronDlT lit g 61.1989 A-O 118 8alo 113 118 56 lOf 110 Coltr6-30g4 1903-18 A-O •« • • • 10094 10094 100% 15 96)4 Fla Oen ft Pen lit g 5i. .1918 '-J ...... «.i 100 Sep.'00 100 100 Oeoel Br 7s ...1907 m-8 105 106 Deo'OO 108)4 1<>^ lit land gr ext gold 5il980 J -J ...... i B H ft Nash Istg •S...1919 ' . o 118 116 Nov'OO 111)4 115 Ooniol gold 6i 1943 J -J LClnftLexg4)4s...l931 M-N •••••• ••••• 108 Jan'9s Ft 8 ft T B Bge. fiM BtLftSF. NOftMlst8«rH„„l«80 J .J 136 130 Jan.'01 a36 187 1 80 Fort St IT DCTo lltg 4^11941 J -J lOS Mar '98 tdgoldas., ,...,„,. .1980 J -J 117 Oot.'00 117 117 Ft W ft DO—lit g 4-61. 1921 l-D 88 Bale 83 86 97 70 84 Pcnsaoola dlT gold 61. 1980 m. n •••» ••••• 116 Deo'OO 116 116 Ft W ft RloGr lltg 3-41.1928 ', -J "ilH Sale 71 71% 47 6S 69)4 BtL dlT Istg Ss. 1981 m-S •••••( •••• 186)4 Jao.'Ol 183 187 SeeSPCo. SdgSs 1980 68)4 Oot.'00 08)4 GKlHarft^SA. M-S "9*8" 68)4 al HftH ot '88 lit Si.1913 A-O 103)4.... 1021s Jan.'01 100 10494 Kentucky Cent g4s... 1987 j . j ioo' 99)4 99)4 10 »594 »»« 0a ft Ala Rr lit pf g 6i.l945 A-O 106 Deo '98 LftNftM&Mlstg 4)4S.1945 M-8 118)4 118 112 Jan.'01 107)4 111 lit ooniol g 6i 1945 J-JT 99 98)4 Not'OO 89 S5« NFlaftSlstgng6s ..1937 f- A 118 Jan '01 109 111)4 Ga Oar ft No lit gn g 6i.l939 J 99)4 Jan.'00 99)4 09)4 Pensft Atllstgag6s.l92l f-a '111)4 118 Jan.'01 11094 113N Georgia Paolflo. See So By. SftNA0ongng6s....l93e p. a 111)4 Jan.'01 107 111 Gila T G ft Nor. See So Pao Co Blnktd(BftNAlges.. 1910 A-O GonT A Oiw. See N Y Cent. Lft JeffBgeOo g1lg4B.1946 M-8 99 96)4 Oat.'99 Grand Rap ft Ind. Se* Pa Co. LNAftO. Sm OlftL. Gray'iPt Term Se«8tI.8W MabouOoal. SMLSftMS. HanftStJ. SteOBftQ anbattan Ry oon 4i. 1990 a- O 106 106)4 81 99 106)4 ooiatonlo. Se* NYNH&H RegUtered 1990 a-O Hock Yal lit oon g 4>is.l999 105% Sale 106)4 106 83 98 106)4 MatropolBl Iitg6i...l908 j . j 117 117)4 117 117 16 118 118 Reglitered 1999 Mas BWOolonUg6s,.1934 j.D Ool ft H T liteztg 41.1948 104 106 ibeji Feb*'01 108 108 IfaK'ptftBY. SMPMoKftY Honit B ft W T. See So Pac. tfetropoUtan BL Sm Btan Ry. Hoai ft TezOen. Sm Bo P Co. MezOentoon gold 4s. ..1911 j.j 83 Bale 8394 83)4 124 70 88 Illlnoli Central- 1st oon Income g 8s.. .1939 j>iy| 80)4 Bale 29)4 82H 24S9 90)4 *SM ist gold 4i 1951 116 116 Dec 00 114 116 Ideonlnoomeg8s.,..1989 j'lyl 14% Sale 14>4 10)4 lb24 10 16)4 RegUtered..... 1951 114)4 113)4 Mar'OO 118)4 113)4 BcnlpfteoUgos 1917 A-O lit gold BH .1951 106 106)4 Deo'OO 104)4 106)i Sd eerlesg 5i ..„,,1919 A-O Beiglsterad, . ...ot«ttl06l •••- •••• 108)4 Apr.'98 ifezlntematlitooug4i.'77 M-8 85 86)4 15 88)4 lit gold 8sst«rtmg..,.l96i M- Jax Nat lit gold 6 1987 J-D 103)4 Apr'OG 108 108)^ Be^stered 1961 M- 8d Ino 61 ACp tmpd.1917 M-Si 81 Apr'OO 81 81 OoUTrnstgold 4s 1952 A-O 1C4>4 Sale 104)4 104)4 100 106 Sd Income gold 61 B.. 1917 An.1 18)4 J'ly'OO IS 17 Beglstared 1952 A-O 104M Jan.'99 Hex North lit geld 6i.. 1910 j-D ••••c ••••• 106 May'OO 108 10N4 LNOftTexgold 4s.. 1953 M-N 104 Jan.'01 101 RegUtered 1910 j.D B«gui«i«d 195S M-N •*•••• •••• 98 ianL'OO 98 98 Mloh Cent. Sm N Y Cent Cairo Bridge gold 4s. .i960 D •«••«• •••••• ••«•)••• MidotNJ. SMBrle. Registered 1950 J-D IfLBftW. SMOhloftNW LonlSTllle Dlr g S^s .185i J 108)4 10294 Feb '01 100 108)4 UiUftMad. SMOhloftNW Xteglitered 1953 J-J ••••• •••••• ••••• •••••• IfUftNorth. SMChMftStP MldSeDlrreg 6i 1931 F-A •»•••• •••••• 188 May'99 un&StP. SMChMftStP * No price Friday; these are latest bid and asked this week, t Bonds due Atunut. t Due April. I Due January. 1 Due October. I Due July, a Option. OUTSIDE SECURITIES (Given at foot op 7 ooijsboutivs pages).— 6^4 /?, TEL. & 2ELEPH., dk Oae 8»curltleB. Bid. A«k. Gas 8eeiirltlea. Bid. Aik. Ca» Seonrltlea. Bid. Ask. Teleg. dk Teleph. Bid. Ask Dotrolt aa«—Sm N Y Bxo h. lUi. Kaneai City Gai .100 80 80 Ohio & Ind Con Nat ft 111 84 29 ¥•!•«. dk Taleph. 6i '26JftD 46 60 American iiex ft Hadion Gas S6 40 5i 1932 , AftO 1100 108 Ohloftlnd— lit Dlit Tele—NY Stock Bz Feb. 16. 1901.] THE CHRONICLE -BOND PRICES (5 pages) Pagb 3. H29 BONDS. 3? Prict Wtek't Range BONDS. ""2 Price Bang* £ b Friday, Range or Year EXCHANGE Friday, Range or Year. V.T. STOOK EXOHANO Feb. lo. Last Sale! 1900. ».r. STOCK Feb lo. Latt Bate. 1900. WukKmdiko FKB. 15 1 ft, WasK £hdiho Feb. 15 Bid. Atk. Low. High Low. High Bid. Atk. Low. High. No. Low.Hitk . D .« 41.1937 109 Minn A Bt L—lit g 7s . 1927 J- 147^ Sale 147^ 147H 143^ 161 TOhle A BtL litg A-O 108K Feb '01 104% 108% Iow«ex lit gold 7i... 1909 J- n 13ii< 113 Jan-'Ol 122« 123H BegUt«red 1937 A-O 106% Deo'OO 103% 100% South Weit ex lit g 7i.'10 I- u 183H Feb '01 122^ 183 N Y A Oreenw Lake. Sm Urie PMlfloex lit gold ei. 1931 A- o lai^ 134 194^ NOT'OO 184^ 128 NYAUar. S««NYOAHQd. 1934 M- V 117^ 3 N Y Lack 8(( O L lit ooni gold 9i "99' 117H 111% 119 AW. A W lit and retand. 4i....l949 M-B Sale 99 89^ 47 93 99H N Y L M A W. S«< Krlfl. Min * St L ga. Sm B O U "ine . • KAAGBlltg 51.1938 J-J Creek res gaar 61 . 1932 J-D 137 NOT'87 aaaat .^aM MahonC'lBB lit 61.1934 J-J 180 Deo'OO 189*' iso' mucin A StL. fiMPennCo. rittiMoKAY—litgaei.'32 J-J 141 POOABtL. Sm Penn Oo. 1934 Bdraar 6i J-J 182 • ta • •• nttiCleTATollitg6i..l922 A-O 107% Oot.'98 MoKeeAB YlitgSi.'lS J-J 137 •«••.« e aea •• PtttiFtWACh. Sm PennOo. Mich Cent—lit oon 7il902 M-N 106« 106% 105% 104% 109% fitti Jono lit g 6i 1932 J-J 131 Not' 98 lit oon 6i 1903 M-N lOSH Sale 102% 103% -1% 10415 ttu A L Hrle-3d g 61 . . 1 938 A-Ot 113 61 1909 M-8 119 Jan.'01 119% 181 Plttl MoKeeiAY. 8«« N YCen 6l 1931 M-S 18e« 127^ Jan-'Ol 186 138 rMtUPAFllt g6l 1916 J-J 90 90 J>ne'99 BegUtered 1931 M 128H 137H NoT'OO 187% 187% ritU8hALBlitgSl..l940 A-O 117 ilSH 116% Jan.'01 118% 116% 4i 1940 •J 107 106 Jan.'00 lOi lOB liteoniolgold 6i 1S43 J-J 87% Jan-'OO BagUtared 1940 J -J 106« NoT'OO 108% 106% •IttaAWeit lltg4i...lB17 J-J 100 too 100 1 99% 101 Bat A St lit go gSi. '89 J-D JPM A Co oertfi 100 100% 100% IS 99% 101% NYAHarlam g 3^i 8000 M-N 116% Mar'OO 116% 116% ntti Y A Aihlit oon 511937. M-H 131 Bale 131 131 1 BegUtered 2000 M-N Reading Co gen g 41. .. 1 997 J -J 94% Bale 94% V5H 886 8* 96% Y A North litg BI..1927 A-U 139 134 193 Jau.'01 181 138% BegUtered 1997 J -J 88 NOT'OO 67% 88 BW AOgoonlitext6i.'82 A-0« 138 189 187H Jau-'Ol 136% 139% taniielaer A Sar. S«« D A H. OlweABSd gag 61.. 1915 F-AI •••••• #••••• 118 Apr'99 •••• laaaaa aaeaai Bleb A Dan. Bet Boath By. B W A O T B litga g 6i. 18 M-N •eaeea •••••! ••••aa _i«»aff« •»••• Klo Gr Weit lit g 4i. ... 1939 J-J .. 100 IfO 100% 37 94% 101 '32 VUea A Blk BIT gn g 4i . J-J •••••a •«•••• no oot.'oo 108 110 Dtah Cent lit ga g 4i.l917 A-W 90 89% Bep.'00 86 SSH * No prloe Friday: these are lateit bid and aaked thli week. Dae Jan. t Dae Joly. I Due June. I Due May. 1 Dae Nor. a Theae are opUon lelea. OUTSIDE SECURITIES (Givbn at foot of 7 oonsboutivb FAQm).— TBL., BLEG., FERRY <& TeleK. dr Teleyh. Bid. Ask. Telet- dc Teleph. Bld- Ask. Electric Companlea, Bid. Ask. Ferry Co-' «>i»niee. Eld. A Ik OoldABtook 117 130 Weit'n Union Teleg—N Y Stook HXOQ General Blectrlc Oo—N Y Stock Kxoh Ferry (Join»anlea. Bondi 90 lOO Do pref.—Sm Boston L Ut Brooklyn Ferry-atock 16 17 Hadion RlTor 'Telephone 117 183 EleetrSo Comyanlea. Hartford (Ct) HleoLtCo. 180 NYABlst Sslun.JAJ 8B 87% Intematlon Ocean. .,,,,., 116 118 Allegheny Co Light Co... 165 170 Mo Bdlion Bleotrlo 17 18 Con 6s'48-Sm Stock Bx list. Mexican Telegraph Braih Klectrlc Co Do preferred- 49 60 Metropolitan Ferry—6s.. 108 110 Mexican Telephone—Sm Boito nlllt. Coniol Bleotrlo Storage.. Narragan. (ProT)KlCo.50 1x87 N Y A N J Ferrr- 107 Mew Hng Telep.—Sm Boi ton Us t. Bddy Bleotrlo Mfg Go..3e t ia" Rhode Island Blec ProCo. 119 1st 5s 1946 JAJ 106% 09 71 Morttaweitem Telegraph 188 186% Bdlion HI 111 Co NY—N Y Btook Bxoh; Dnlted Bleotrlo of N J . . 83 94 N Y A B B Ferry—Stock. « 80 98 IT Y A N J Telephone. . . 178 1S8 Bdtson Bl III Co Brk—N Y Stock Bxoh; 4s 1939 76 78 lit 5s 1983 MAN i 1980 MAN 113 lis Bdlioo Ore MUllng Oo. 8 11 United Kleo LtAP Co pref SMBal tolUt N Y A Hoboken—Stock. 80 1111 FeoifloA Atlantic 78 SB Bleotro-Pnenmatic Trani 3 4%j 1989—Sm Balto 11 St. HobF'y lit 5s.'46MAN US 8§« I (>4% 96 ProTldenoe Telephone. . 100 Fort WayneBleaOo Oi.. 30 Wooniooket (B I) Bi Co.. Oon. 9S 1946 JAD tPrloe per ah! a:e. flonthem A Atlantic 97 IDS Serial A 16 86 1 lAnd mteresL AJ 4 1 . . 1 1 . 330 THE CHRONICLE -BOND PKI0E8 (5 pages) Page 4. [Vol. LXill. Friee Ifeefc'* Eange BONDS. 8-8 I'riee Week'B Sange BONDS. Fridav, Range or Tear Friday. Sange or M.T.BTOOK EXCHANGE N.Y. STOCK EXCHANGE Tear Feb. 15. Last Sale. 1900. il Feb . 15. Latt Sale. 1900. WiBK Ekdikq Feb. 15 Wbek Emdino Feb. 15 Bid. A$k. Low. High. No. Low. High Bid. A$k. Low. High. No. Lovi. High Southern— (Con) Bio Qi Jnno lit gn g Si . 1939 J-U 105 Nov'e9 BloQrSo lit 8 41 1940 J.J 80 83 80« 80« 10 71 81 Virginia Mid ser A 6s.l906 M-S Guaranteed 1940 J.J 93 Bale 93 93 4 98M 94 Series B 6s 1911 M-S Boon * Flttt. SteBUtt P. SeriesC 6» 1916 M-8 8erlegD4-5s.. Borne Wat. AGs See NT Cent, 1921 M-8 • • •• . I 102 Oot'99 SaltLakeClftRtfei. .1913 Series R 5s 1936 M-S too Jan.'99 tJo&QllitR 3-4I...1947 93M Sale 9SH 0S}< 81 OS Small 1936 M-B t L * Oal. Sm Mob & Ohio. Series F 5s 1931 M-S Bt L & Iron Meant. See M P. Gen6i 1936 M-N 114k 115k 16 100 llSk L K O ft N. Set Wabaih. Gtd Itamped. 1936 M-N 113k Deo 00 108 IISS LMBr. SMTREAofStL WOAWlst07ga4s.l924 F-A Olk Bep.'OO 87 Olk Bt Iionli A San Franolioo— West N O 1st oon g 6s.l914 J-J 119 NoT'OO U4klH Sd gold 6i Class A 190fl M-N nil 112H 112H 9 SAN Ala. See LAN. Id gold 6s OlasiB 1006 M-N •HI 119H U2H 6 1109illSk Spok FallsANor IstR 6s.l93« J-J 117 J'ly'OO 117 117 Stat Sd gold es Class 1906 M-N •Ill 119 Jan.'01 " rokiisk Isl Ry lit ga g 4ki.l043 J-D General gold 6s 1931 J-J ISO Bale 120V 180 8 12194 ISO Sanb A Lew—S«« Penn BR. General gold 6s 1931 J- *115J< 116 118K 17 106 116k Syxa aing A N Y. Sm DLAW littrnstgoldSs 1987 A-O loe lOaji Oct.'00 I03k 104 1'ebo & N. Sf« M K & T lstgesPieroeO*0..1919 F- •r A 01 St L lit g 4ki.'3( A-O •114k lISM J'ae'99 BtLftSFRBR4i....l996 J-J 97 )< Bale 97X 97« 31 79 98k lit oon gold 6s. .1894-1944 F-A 116 llSk Jan.'01 Bontbw DIT 1st g 5s. 1947 A.<> 100 J'ne'OO 98k 100 St L M Bge Ter gn g 5s. 1 930 A-O 118 111 Jan.'00 ilMl5« OentDlT 1st g 4s. ,.1929 A-0 96 96 l6 90^ 06 Tex A N O. S«« So Pao Co. FtBAyBBdglstgai.1910 A-O 106 00t.'97 TezAP By H dlT lltg 6i. 1905 M-S 1C4 Bale 104 104 1 104% 108 litgold 6 Kansaa Hid 1st g 4s. . .1987 J-D 5i ,.9000 J-D nok 118 110k 117 Bt L Bo. Set Illinois Cent. 2d gold tno. 5i, Deo... 9000 Moh. 96 Feb '01 67 00 BtL BWlstg4sbdofs.l989 M-N 97^ Sale 98k 330 85 06^ TolAOO litg6i 1936 J-J UBk 116k 4 lOS 116M Sd gislno bond otfs,. 1989 J-J5 l&H Sale 10 79H 76 53M IS Weit'ndlT lltg Bi.... 1935 A-O 116k Jan.'Ol 106 lis Gray's Pt Ter 1 itgn g 5s'47 J-D lOS General gold Si lOSS J-D .... 106 Feb. '01 • » • 96 108k Bt Paul & DqI See Nor Pao Kan A M lit gn g 4i. ..1990 A-O 07 97 97 12 84k OS tPanl M * Man 2d 6s.l909 A-O 118H121 118« Jan-'Ol iiekizi Tol Peo A W litgold 41.1917 J-J • B8 00 88 88 5 78 8« lit oonsoi gold 61 1933 J.J 141 149 143 137 14Sk TStLAKO Iitg6itr.l916 J-D 130k J'ne'OO 110 180k BegUtered 1933 J.J 13714 Feb '99 Tor Ham A Bnff lit g 4i. 1 946 J-D* 90k 98k Jan.'01 07« 100 B«daoedtogold4Xs 1983 J.J *nt,H, 115^ Jan.'01 1iakll7k UlitarADellitog 61.1028 J-B '108 108 Jan.'01 103 107k Beglstered 1933 J-J U514 Nov'OO 118k 116k n Pao—BB A 1 gg 4|1047 J.J lOek Bale 106k 106H 107 10114 108 •120 ' Dakota ext gold 6s. ... 1910 M-N 120 Feb. '01 n7kl21k Beglitered. 1947 J-J 106 106H Jan.'01 1033 106M HontBzt lstgold4i..l937 J-D 104« 108« Jan.'01 102k lOB OreByANaTlitifg 611009 J.J •*•••• «•••» 111 Deo '00 110 111 BegUtared 1937 J-D 104 Jan.'99 Ore BBANar oong 4i.l946 J-D 101 Bale 108k 104H 28 100k 104M MlStdlTlitg9i...l908 A-O 110 110 5 108 100k OreShortLlnt lit g 6il932 F-A 1379i Bale 137k 128 18 12594 180 Beglstered 1908 A.O ••eee* •«•«•• • •• • i*»t«e ••••< Ore Bh li—litoon g 6i.l946 J-J II 6k Bale 1163^ ll6k 28 110k 118M NordiT Tstg4s....l948 A-O Non-onm Ino ASi...l946 3ep.t 106 Jaiu'Ol 106 108 Registered 1948 A-O Utah A Nor lit 7i 1008 J-J 110 119 Feb '0 MUm Dnlon 1st g St.. .1932 J-J 128 Apr '00 128 128 Gold Si 1936 J-J 109k OoU'OO 109k 108M HontClstgag6i....l937 J-J 134M 184^ 134M 199k 135k DnlNJBBAOOo. flsiPaBR Beglstered 1937 J-J 116 Apr' 97 Utah Central. See Bio O W lit goar gold Si 1937 J.J 118 118 Dec'OO 116% 118« Utah A North. See Un:Pao. BegUtered 1937 J-J DtloaABlaokB. SMNTOent Will ASF lltg 6I....1938 J-D ISO Apr '99 Ver Val Ind AW. Sm Mo P. Beglitered 1938 J.D irglnlaMld. 8m South By. Bt P A Nor Pao. Be* Nor Pao Wabash lit gSi 1939 M-N 110 Bale 110 119M 32 US 118k *a'zoitr.s««oatPM*o 2d gold Si 1939 F-A • 110k 110k 111k le 98k 108k riP '106 te Pres A Ph lit g 5s.l948 M-8 104 Jan.*01 lOak 106k Debenture MTlM A.. .. 1939 J-J • 96 101 102 10 83 OOk AAA P. Sm Bo Pao. Co. Berteia 1939 J -J 649^ Bale 58 50 4184 809li 43M BF&NP 1st sf geB...1919 J .J 113 J'ne'OO 113 119 lltg Si DetAOhBzt.. 1941 J.J 110 111 Jan.'01 108 IISS arF&WlitOon g6i.l934 A-O 1245i 186M Jan.'00 186k 136k Des Moln Dly 1st g 4s. 1939 J -J 06 Bale 96 06 28 01 06 lltgSl 1934 A-O 123 Deo'99 StOhaiBridge Iitg6i.ie08 A-O 109k 111 May'OO 109k lis Bt John's DlT 1st g 4S..1934 J-J 949 . SO-yr lit oon guar g 5i. 1937 M-M 107 Nov'OO I06k 107 ill Bl ByA L g 6s . 1926 K-A 106 Oot.'O0 '0 1st Stamped 1905-87 M-N '108>< , 108k Feb I04k 100k Utim St By oong 6s. 1919 J -J 100 Oot.'00 Paoof NMezlitg6s.'ll J-J 116 Ang'OO 116 ll«k tt Paul Olty Cab. ogSs.1937 J .J 111k Jan.'01 111 118 B P Ooait lit ga g 4a.. 1937 J.J • • • • e I Guaranteed gold 61... 1937 J.J •••»• • •••• lit gold Si. 1>7 TazANOlit? 1905 F.A I •••# 114^ llOJiFeb'Ol 114k 114^ Third At ... 1937 J-J ••••• ••••!* 184k Jan.'01 117k BablnedlT lit gSi.. 1912 M.g 106k NOT'97 Un Bl (Ohio) lit gSi....ie45 A-O •••e« ••••»• 109k Deo '90 Con gSi 1943 J.J 107^ Bale ICk 107% 77 101 106k W Chlo Bt40-yrlitenrSi.'28 M-N Bonttaera— istoon g 5i.l994 J.J 116 Bale lie 116k 109 106 114k 40-year oon g Si 1036 M-K 00 Dm'07 Beglitered 1994 J.J 108 Ang'OO 107M 1089i GAS A BLBOTBIO LIGHT BON DB. MemDlTlitg4-4H-6il996 J-J 111 100 Jan.'01 108 Atlanta G L Oo lit g Si. 1047 J-D 100k . Beglitered 1996 J.J Boi n Oai tr otf1 1 fg Si . '80 J.J 9194 Oot.'9S AlaOenBlitg ei....l918 J-J 114 119k Ang'97 BklrnU Gai litoongSi..'46 M-N !§•• •••••I 117k U'k 118k 118 Atl& Danv let g 4b.. 1948 J-J 08M Sale 93« 03J4 36 eSk 9i9i ChGLAOOo. SssPOAOOo Atl A Tad 1st g ga 4S.1949 A-O Colambui Gai lit g Si .. 1033 J-J OolAGreeuT 1st 5-6i.l916 J -J 130 Sale ISO 120 " 3 116 116 OonGaiCo. SssPGAOOo. T Ya A Ga Dlrg Si. 1930 J-J 117k Jan.'01 114M119 Detroit Olty Oai g Si .... 1 088 J- 3 96k Bale oek 06k 13 OS 108 Oon lit gSi 1966 M-N 119M Sale 119k 190 10 114 130k Det Gai Oooon lit g 61.. 1018 F-A eok NoT'oe BTenreorllang 4-Si.l938 M-8 116 116M 37 108k lis ad Bl 111 Bkn. See KOo BLAP Beglitered 1938 M-8 Ed Bim. SmNYG ABLHAP Ga Pao By lit g 6i. . .. 1932 J -J lS4k Feb '01 119k ISSk BlqaasLNTlitoong5i..'33 M-B 130 ..... 118M Bep.'00 118% lltH Knox A Ohio lit g 6i . 1935 J-J •126 .... 187 Feb '01 118 124 aq O A Fuel. S«e P O A C Co. Bioh ADanoongBi. .1916 J.J 122M 1229i 193k 182k 26 110 196 Qas ABleo BergCo con g 5s'40 J-D 10 2M Sale 102 1089< as io»H 118M Bqulpilnkfnndg Bi.1909 '00 deb 5s . . . 1022 1 us 168 M-8 f Bleo Co g J-D leik 101k J'ly » • 101 101k Qea 161k Deb 01 itamped 1937 A-O 109)4 Sale 109k tO»k 1 104 109k Gr BapOLCo Istg 5s. .1916 F-A 107MDeo'00 107M lOTM Bo Oar A Ga lit g 5i. . 1019 M-N 108 108 1 108 100 EC 1V*nOa8 0o 1st «: 5s. 1933 A-O * No price Friday; latest bid and asked, t Bonda due Aug. t Due July. I Due Match. 1 Due Jan. | Due Mot. a These are option sales. OUTSIDE SECURITIES (Given at foot of 7 oonseoutivb FA.Q3a).—FBRRr <6 MISGELL'8, r»rrw Comyanlee. Bid. Ask. MIeeeilaneone. Par. Bid. Ask. MUeellaneone. Par, Bid. Ask. nilaeellaneoua. Par. Bid. "aTI 8 10th A 23d Sts Ferry.... 76 8S Amertoan Bridge Co-Corn 46% 40 Amer Sheet Steal pref.. . 77 78 Amer. Writing Paper.... 1 11 lltmortSs 1919... JAD nos 108 Preferred 9ik 93 Amer BhipbuUding ... 1 00 S3 37 Preferred Dnlon Ferry—Stock 839« 83 American Chicle Co 81 82 Preferred 100 06 00 6s., 64k 66)^ lit Si 1930 MAN i 06 07 Preferred. ,,.. 80 81 *jn BodaFoun—Com.lOO S 7 Anthracite Coal Oo t 7k 8k 100 100 S6k A.mer Graphophone.. . .10 8k 9H 1st preferred. 48 63 Barney A SmCar S2k 19 100 186 Mlacellaneona. Preferred 10 ^ u'k 8d preferred 100 Preferred Uk 105 Aeker.Mer A Con 6b 1903 100 Amer Hide A Leather ... e 10 American Surety 50 186 196 Bergn A Bng Br 1st 6s. . ICO Amalg. Copper—SeeStook Bzch. list. Prei erred 33 8S Amer Strawboard....lOO 88% 84 Bliss Company—Com.. 50 18S 187% Am Agrloul Chem—Sm B oiton list. 6s, 1919 MAS 00 Bonds 6s FAA 101 *•<••• Preferred 50 196 89k 888 Amer Bank Note Co ... 50 t 63 68 Amer Press Assoc n..lOO 70 80 Am Typefo'rs—Stock. 100 68 69k BondAMort Guar. ..100 366 Amer Bloyole—Com, 6k 7k American Sorew 360 1817 Amer. Woolen—Sm Stock Ezoh. hit. Brltiah Columbia Copper 81 81% 109 Preferred...... 84k 86 Amer Sheet Steel. t 86 87 Amer Wringer com... 100 X108 Celluloid Co 100 S8 Bond! 51 MAS 77 78 Preferred- zllS lADd interest. T Price per ih are. .. ' H 1 . d., ... , .. 1 . ... : pages) Page Feb. 16, 1901.] THE CHRONICLE —BOND PRICES (5 6. 331 Price Week'g Bange BONDS. Price Week's Banyc BONDS. Friday, Bangt or 12 Tear Friday, Bange or n Year y. stock exchange H.T. STOCK EXCHANGE Feb. 15. Latt Sale'. 1^ 1900. n. Feb. 15. Latt Sale. 1900. Wbbk Ending Feb. 15. Week Bndinq Feb. 15. Bid. Ask, Low, High. iro. Lou> High Bid. Aik. Low. High. No. Low Hia» 58'48 • Klll»iC0B!lL*PBBi.....'87 A-O BklnFerryCo Ist con g F-A sm 87J< Jan.'01 A-O .fit t«t*«l *%«••• k'n WH IstSitr ctfs. 67)4 70 88 685* "is PnrohiMe mon » i^^^Sa WA 88 84 98 1 98^ Dec'OO Jo Strd ool R 5S.1915 J-J 110 Aug'OO Hd Bl 11 Bkn-litoon g •• 3«| J-J Chlo A no 111 L»o(iai-LCoofStLlitg5.19 «-F» •107J< 107 107J4 to 108 111 Non-onm Ino 68 ....1907 J-J A.191] 88 Bmall Q-F* Det MAMld gr 3XsB A-O Bale 38W 33K 81 19 40 V.--^?! . 1926 Set PeopGas Hack Wat Reor Ist g 5s. J-J ..*•• tint Fuel Gai Co *106i4 I ...tat 31 f 1931 s NTQHLH*P..k6b.19*8 J-D 110^ 110 HOW 103!4 111 Head B Co 1st s g6s... M-8 *•»•• ••••• "I'l's" No't"''9'9 ...«•• ..t« L A I g 5s 1910 M-N s*l««« ••••!• •••••• B«sriitered 19*^ J-D Hoboken • ...... «« 95)4 Sale ISO Steamboat Co 8s... 1901 *««flti •••••« K-A dSH 96 91 95H Iron J-J ••••• ••9*« .....i ...itf IU-8 109H lU 1091a Jan.'Ot Mad Sq Gard Istg 5s. ..1919 M-N *••••• •••••• ••••«t •••••• d HI 111 lit oonT g B»J0ig 106J<110 ••••t: •••lit 121 lao gen g 4b. 1940 s«««aa •••••• * J-J Nov'OO 117M 120 Man Bch HAL M-N tflttl ••••It » • • • .^...... tti M-R News SAD D 5s.l990 J-JI *•>»•• •••••• •••••• P»ter.on* PG * B 8 5i.l849 Newpt •••••• •>...... lit 107' J'iy'bo 107*' rAOntLand Istg 6s. 1910 F-A •••••• St»t*l 00 PeoGai*Olitgug8f..l904 M-N \'6i' oot'oe • xttit 8dgtdg8f.. 1904 J-D 103 Jan.'01 102W 107 8t L Ter Capples Station A 1««» A-O 130 Bale 120 120 116 137 PropCo Istg 4Ws 5-20 yr'17 J-D IrtooniolgBB '23 E«fundtoKB6i M-H 106 Deo '98 B Yuba Wat Co con g 6b.. J-J 101 Feb '07 }ll'i«« M-H •«««• istait 8p Val Wat Works Ist 6i.'06 M-8 Dec'OO BoRUtored...... 118W liswiltw ChQ-L*Ckel»tgngS«37 J-J •i07 109 lOeii Jan.''0i 107 109H ' Vermont Mar 1st s f 5s.lS10 t««9«« aitttt •IDS 108^ ' Con G Co of Ohlitgu K 5s 36 J-D 106 Jan.'01 106 109 THLB. A TBLBPH. BONDS. 05 J-J •103 106 104 104 80 108 103 FChl»tKaK6i. Cable Co 1st g 4s.. .2397 -J • iiiai •••fl«» 108 Jan.'01 HqQ4 5.1947 M-N • 106 108 Jan.'01 109 Com 101 lOSU Mn Fuel Gat Ist gn « 106 Registered 2397 V-\J 100WOot.'00 loow Xst 58.1949 ffl-S 109 Feb '01 107 107 looS Trenton G & HI « Brier AT oeltrgsf6s...l926 J-J •••••• ..••• 109 Oot.'99 58.1950 .1 -J UtloaBLAP lit if g Met TAT istsf g 5s... 1918 M-N •••••I §•••!• 33 Jaii."'01 W«tn Qai Oo ooi tr g 5i... M-N i07W io'en ib'sw Mat Cn Tel Oo. See Wn Dn, J( r A N J Tel gen g 5s oy. '20 M-N 113 NOT'09 OOAIi A IRON BONDS, NoWestn Teleg. SMWest.On. /-^ah Coal Mln. SmTCIAR West Union—Col tr cur 5b.'38 n\H n8« 1125< 10 100 119 ijleart Bit Coal. SeeNYCAU real est Fd and g4W..1960 10T4 , 107WB'eb.'0i conges... 190 2 F-A 104 Jan.'01 lOOX 104W 107 OolOAlltt 1C8H Mat UnTelsf'd 6s... 1911 IISH Deo '00 100 118 OolO*IT>evCogtig5i..l909 J-J 6S Nov'OO 65 58 .'04 Northwestern Tel 7s...... IIM ConponB off. ^ •}„;!! Coi Fuel Co gen gold 6S.1919 f»i-N 108M 106« 10 lOBW 108M U. 8. GOV. SHCURITIBS. daily record tee teventhva te V recMKni.) 100 '01 8 2s registered 1930 1051^ lOEK 86 Col F A I Co gen B f g 5s .1943 F-A 98H 98X Feb 90 98 U 105W 106W 103W 107 I. ooapon 193G 105!4 lOSK 0e Bardel C A I. See T C A UB88 106H 105H 10 104 106 Or RlT Coal A Cist g «»• 1919 A-O 95HJan.'97 US 3i registered 1918 HOW UIH ll09i Feb '01 108K ll»H TeffA01earOAIlstg5sl926 J-D 107 May'97 U S Ssconpon 1918 111 Sale now 111 'es 108M Uifi 1918 «l SdgSs 1926 J-D 80 May'97 n 8 3b reg small bonds. .... PleasValCoallst g sf 5 ••1928 •••••• ftiaat 105 Oot.'00 105 106 U S 3s ooa small bonds. 1918 iiowinw now now 108W lllK 46 8 4s registered 1907 114!4 '01 • BoonA Fit C& 1 pur m 5s 19 iu-N D 118W114W Feb • • t 114 IItS Bun Ok Coal 1st g s f 6s..l912 J-D D 8 4s ooapon 1907 118W 114H 118H 1185< 1 114 118W TennCoalTUlv Istg6sl917 A-0,1 107H 110 no Jan.'01 103 112 U B 4s registered 1925 13':M 188H 137H Jan-'Ol 188« 180 Blrm Dlv 1st con 6s. 1917 J -J 110 lot Feb '0 108 112M U B 4s ooapon 1985 13'H 188W 1S8W Jan.'01 181H 138J< Cah M Co Ist gu g 6s..'22 J-D 105 Feb '00 106 105 a 8 5s registered 1904 11054 um 115 Dac'OC n29«116W 101 ,.1904 De Bar C A I Co gn g 6s. '10 F-A Bale 101 101 93 109 U 8 6s ooapon UOH lUW no Jan.'01 113W 11«« Wli L H A P Co 1st g 5s.'19 J -J 33 Jan.'OO 38 88 FOR'GN GOV. SHCURITIBS. n B of Mexico 8 f g 5s oi 1899 bOeM Jan.'0l tee e7w MAN'F'Q A INDUSTRIAL. b Thtte are price* on lu of Hve doUare to the pouTuL AmOotOU deb g8i... 1900 Qn-F lOlWOot'OO 100^104 Bxtended 4^" 1915 99)< 100 Feb '01 99H100M BTATB BBCUBITIBS. Am Spirits Mlg 1st g6s..l915 M-8 83 Bale Si 88 83 86 Alabama-Class A 4 to 5.1906 J-J 108W. 108W Jan.'01 108W IKM Am Thread l»toolt8t4i 1919 J -J Bmall 106 Aag'98 BarASCarCo lstg6s ..1942 J -J 106 Jan.'OO 106 105 Class B 5s 1906 J-J t08W 111 ioewoct.'oo loew 109W &rameroy 3ng 1st g 6s.. 1933 A-O 895i Feb '00 89M 89JH Class C 4s 1906 J-J 103 108 108 103 103M funding ..1920 110 111 Steel Co debSs 1910 J -J 99 Jan.'99 Currency 4s. J -J Non-oonr deben 6s.. .1913 A-O 70 Apr '97 Dlst of Columbia— 3-65S.1924 F-A 133 ..... 131 Apr '00 181 181 Int'l Paper Co lstoong6s.'18 F-A 1C6 Bale lOSX 106 SB 108^ 100 Louisiana—New con 4s..l914 J-J 108 Aug'OO 108W (Chlo) Istg 5s.l928 A-O •••••• •*• 93 Aug'OO 87^ 95 small *.•*••...•••.*••••..*«*. ••••• Feb.'99 Knlok loe "38 109W Nat StarOhMfg Oolstg6sl92() M-N 108 109 107)< 107H 104 103 Missouri-Funding. ..1894-95 J -'J •••••• ••••fl Prooter A Gamb 1st g 6s. .'40 J-J 118M J'ly'99 Nortn Car—Con8ol4s...l910 J-J :o5 106 105 106 106M Stan Hope A T 1st g 6s. 1946 F-A 61 61 48 669^ 84 Small..... J-J Income g 5s 1946 10 11 361 8 24 6s 1919 A-O 184 138 Feb.'98 BnTeICo 1st s f g6sl918 j-ji Bo Carolina—4Ws 30-40.1933 J-J 110 130 Mar'OO 180 ISO UBB LeatliCo s f deb g 6s.' 13 M-N 113XJan.'01 lis 116H Tenn—New settlem't 3s. 1913 J-J 98 W 97 96W Jan.'01 98H Small J-J 96 98 Feb '01 90 MI80HLLANH0UB BON DS. Virginia fund debt 3-3i.l991 J-J 98 9i% Feb '0 85 4s. 1948 i08 Adams Hx—Col tr g M-8 108 109 103 106 Registered , J-J mDkAImp 6s. SeeCenNJ 0s deferred oertfa 7WBale 7W 8 44 6 10 *tloprloe Friday; these are latest bid and asked thli week. tDneJuly. (DneMay. IDueAprU. | Bonds due Janoary. TDae August. aThese are option sales. OUTSIDE SECURITIES (Given at foot of 7 oonsboutiye px&m).—BANKS (6 MISCALL'8, Mleeallaneoue. Par. I Bid. Ask MIeoellaneoaa. Par. Bid Ask Mlaeellaneoua. Par BiQ. Ask. MleeellaneoUB* Par, Bid. Aik. 0«nt Flrew'rks—Com.100 88 86 uorlllard (P)—Pref.. .100 105 Trenton Pott— fref.. 100 65 68 V. 8. Cast Iron Pipe «W 6>a Preferred 100 74 76 Madison Sq. Garden— 100 6 Trow Dlreotory-New.lOO 66 Preferred 81 84 Okataangay OreA Ir 6s '16 30 45 3d 6s 1919 MAN 40 Dnlcn Copper ,, 4 «w US Bnvelope—Com..l00 50 Ohes A O Grain HI—Inc. 16 Karkeen Copper,,., 1« 9 Union Steel A Chain..,.,, 5 10 Pref 100 00 08 4s 78 80 Vfez Nat Constmot'n, pf 19W 21 Preferred ,.,,, 80 U S GlaBs—Common.. 100 38W 84 Okesebrough Mfg Co. 100 380 410 Monongahela River Coal. t I'W nw Union Switch A SiRnal.SO t 65 66>s Preferred 100 130 •••• Chicago A Alton RR— Se« Stk. E X. list Preferred 60 43W Preferred 50 t 73 75 Va. Coal Iron A Coke. 100 8 Olaflln (H B)-lstpref.lOO 101 108 Monongahela Water... 25 40 Union Typewr—Com.100 45 5s 1949.,., MAS 37 4?^ 1 Id preferred 100 101 108 Mosler Safe Co 100 100 1st preferred.. .,..., 00 114 Westlngh Air Brake. . .50 tl81 Common—Se« St.Rx. list National Carbon 100 16 3d preferred 100 114 118 Worthing. Pump, pfd.100 119 Colo Coal A Iron Develop Preferred .100 83 Preferred Nat Hnam'g A Stamp .IOC 18 30 Banka. Bid. Ask. Banka. Bid. Ask. Bid. Ool A Hook Coal A I, pfd. 88 43 Preferred 100 80 82 Alk Istg 5s 1917 JAJ 86 90 Nat'l Gramophone. . , .100 15 18 Compressed Air Co 86 SO National Saw—Pref.. 100 Broken' Qu otat^ on*. Brokers' Qu otatio ns. Brokers Qu otati ofu. Mt Morris*.. 190 . Co isoUd Car Ueatlng.lOO 56 60 National Salt—Sm Stock Bxoh. LlBt. Sprague 310 N. r. CITY. Mutual* 160 28th Ward*. 110 Co Jsol Flrew'ks-Com.lOO 10 80 National Surety 100 14U 100 America* .... 480 180 Nassaa* 190 , rte'erred 100 65 75 National Tube See NYStk Bxoh. list. Union* ISO Am Bxoh.... 1248 New Amst.*.. 723 B eo Lt Hquip. ew N. H. Blec. Veh.Trans..lO t 3 SW Wailabout*. 106 ••a Cons Ry A 9X Astor 600 York 1600 isoi Rubber Tire 6 Imp 100 70 86 New Co Co 4W NY Loan A Bowery* SCO 130 34 Biscuit 6s 1911. MAS n4W 116 N Y Nat Hx...... Pit 35W NY Broadway.... SCO 860 385 345 Corbln Cabinet Look. 100 8&U 300 New Jer Zlno A Iron.. 100 New York.., Trnat Cos. Butch'sADr.. 04 too 19th no Corbln (P. & F.) Co.... 26 t 85 00 N. Y. Hl.Veh. Transp.lOO Ward*. Central 171 Ninth , 95 N. Y. Cr trnps' Bh A Kn Bldg.lOO 80 82 Nicholson File Co 60 t 80 CITY. Chase 800 North Amer. 810 Crucible Steel t 87 37W OtlB filevator—Com 38 33 Chatham .... 300 310 Oriental*.... 19C9< t Atlantic Preferred t SOW 81 Preferred 98 93 Tr. 330 840 Chemical 4000 40E0 Paolflo* 185 195 Bowl'gGreen 18S 1B5 Diamond Match Co. . .100 138>» Peck, Stow A Wilcox.. 25 t 38 Cltitena' 160 Park 470 500 CtLRlty BAT 326 DlstiU. Co. of America. . HM ON Pennsylvania Coal 50 750 City 58S 580 Peoples'* .... 335 ^ Central Tr'st. 1976 Pref 21 23W Pitts Bess ALB 50 1 33W B3H Colonial* . . . 300 Phenix 100 105 City Trust... *380 Eleotrlo Boat 86 88 Plttsbnrg Brewing 50 1 34W 34^ Columbia*... 800 Plaia* 470 Colonial 876 Preferred 65 Preferred 50 t 449t 49 58W Commerce... t831 Prod 140 Continental leotrlo Vehicle IS 16 PltUburg 100 281a Bxoh*.. 400 ee e e* Coal. ..,,,.. 28H Continental 149 Preferred 80 Preferred 100 Republic .... 880 846 Farm Ln ATr '475 1515 40W 88J4 88H Corn Bich*.. t385 210 Empire State Sugar..,,,., 82 Pitts Plate Glasi 100 158W Riverside*... Fifth Ave Tr 330 • et 83h Domes. Bxoh ••«••• 103 Seaboard 350 Guaranty Tr 600 1st 6s iioow 101 Planters' Compress— See Bost'n list. .... 650 Bast River, 140 Second 660 Enlck'rb'ok'r 585 Bmplre Steel 6 10 Pratt A Whitn—Pref . 100 70 80 nth Ward*. 160 Seventh 186 Manhattan . 330 Preferred , 87 44 3^6 Prooter A Gamble.,., 100 310 Flilellty* Shoe Le'th 105 lis Mercantile . 81J • et ••! Hrle A Wtestern Trans. 60 t 60 Preferred 100 !d07 200 A Fifth Ave*.. 8750 3350 350 Merchants' . 300 Fidelity A Dep (Bait). .60 1166 1st 6s—See Stock Hxch, list. State* ••••t« Fifth 225 State of NY* 140 160 Metropolitan 490 seeatt General Carriage aw £5 Royal Bak Pow pf ...... esw 96 First 3600 12th Ward*.. 100 116 i MortonTruBt 835 S«neral Chemical iob 80 ICO Rubber Goods Mfg ., 28W Preferred 14th Street*. 150 23d Ward*... 100 N Y L I A Tr 1383 1375' 100 09 108 Preferred..,, , 77W VdW Fourth tl66i .... Union Sq*.... 885 N Y Sec A Tr 773 Qorham Mfg Co-Com.lOO no Russell Brwln. 36 t 63 88 A Gallatin 400 390 Preferred 100 180 Safety Car Heat A Lt.l0O 138 125 43S West Bide*.. • •es North Amer. 340J< isVs' Havana Commercial 16 Oansevoort*. 100 Western tin Real Est Tr't 310 1!^W Seaooast Packing Co . 1800 Preferred 58 63 Preferred Garfield YorkvUle*.. 280 Standard Tr't: 2S3 • •• •• Hook-Jones-J Mill-Pf.ido 55 156 170 German Am* 126 135 Tr.Co.of Am.! 215 8S0 Simmons H'rdw-Com.100 885 1st Ss 1932 MAS 86 Preferred 100 145 160 German Bx*. BB'KLYN. Tr.Co.ofN.Y.. 195 306 Oermanla*... 300 Union Trust.; 14C0 1416 Heirlni^-Hail-Marvln. ... 8 Sd preferred 100 146 150 1st preferred 100 80 BingerMfs Co 100 870 800 Greenwich *.. 156 Bedford*.... 285 UBMtgATr. 485 440 Hamilton*... 150 Broadway* . 3SU Dait. States.. 1681 1688 8d preferred I , 8 16 Standard OH of J. .100 x797 dOO N 515 309 Hoboken Land A Imp't no Stand nnd'rg'dCable.lOO 814 818 Hano'r(new) 680 Brooxi>- .. no Washington. 166 1 5s :., 106 Sloss-Sheffield - Se« Stock Bxoh. llBU HldeAL'ath 8th Ward*... 85 Illinois Imp Trad. 540 5th Ave*.... 100 110 BR'KLYN. HleoVeh Trans. 10 IW Bonthorn Cotton Oil.. .60 t 55 A International Irving 186 190 First 300 Blevat.ioo So** StandardCoupler.oom. , . 80 40 ' Tr. 415 Internat'l Pump—Se« Stk, Bxoh. 180 185 Leather Mfr. 230 Kings Co*.... no see** Brooklyn UsU Preferred , . 185 Liberty 400 Mauufaot'rt. ass sao 1 riatbush Internat SUyer—Se« Stk. Bxoh. list. Stat iBl R T 1st 6s'13AAO 836 iOO Franklin. . . , SBO Do do pref, 88 40 2d 5s 1926 JAJ Lincoln Mechanics*.. Manhattan* 280 Mech Tra*. 270 300 Hamilton.... 870 Do do bonds. I 07 101 Stlllw-Bieroe Bm-V.lOO 70 A A Kings Co 414 Iron Steamboat. lOO a 8 Storage Power ItfW 18 Market A Ful 845 Merchants'. 100 860 . • • « 1901 Mechanics'.. 213 •••!• Nassau ..,,., 9BS LIsiL ATr. •« JAJ 58 65 Swift A Co 100 101 108 3S0 John B Stetson—Com. 100 06 ilOl 103 Mech A Tra* 100 Nat City 373 Manofaot'rs. 8U ...... 1st 6s 1010-1914...JAJ Nassaa 106 Preferred Mercantile . 286 836 North aide*. 176 100 116 130 Suiq Coal 6s 1911.... JAJ 113 120 360 Jonmeay A Bnmham. 100 Meroh Sxoh. 188 People's* ... IPO People's ee*t TexasAPaolflo Coal. 100 lOlW WUllamab'gh SC6 Preferred 100 1st 6s 1908 AAO {106 no Merchants'.. • • • eet Soherm'rh'n* 170W Metropolis*.. 800 660 17th Ward*. 106 115 I Lanston Monotype.... 20 t e8>a 67 »a Title Guar A Trust... 100 466 485 Lawyers' Surety...... 100 101 113 Trenton Pott—Com.. 100 6 8 • banks. I Porchaaer ai»o »y.« inni: -SQu Banks marked with an asterUk.(») are SUM aaonied int. t Price per share. * Sale at Btook xek.or at aaoUon thtswe k ... 1 . • 332 IHE CHKONiCLE. [Vol. LXill. Boston, Philade Iphia and Baltimore Stock Exchanges--A Daily and Yearly Record. Sbare Prices—Not Per Centam Prices. 8aLe» Sales in 1901. ACTIVE STOCKS. of the Range of Saturday, Monday, Tuesday, TTedn*iSday Thursday, Friday, H Indicates anllsted. Week. Feb. 9. Feb. li. Feb. 12. Fe6. 13 Feb. 14. Feb 15. Sharei Lowest. Highest Railroad Stoek*. 334 855 •8B4H255 3549< 355 3S4U 2SS 354« Boston A Albany ( Boiton ) ...100 362 851 Jan. 355 Jan. 88 16flH 169)» 189 18H 1H8H 168H 188^ 109 Boston Hlevated, full paid.. ...100 390 159^ Jan. Jan. 1 843 213 '343 345 346 '343 24' 343 249 Boston & Lowell " ...100 S'- 341 Jan. 345 Jan. 22 . 19S 195 1U5 '195 •l9S , 194 195 Boston & Maine ...100 8 19 i Jan 196 Jan. 5 uox 140% 139 14IH 138« 1S994 13894 143H Chlo. Burl. 4 Qulnoy ...100 :30ii 133i< Feb. 148i< Jan. 7 14^ • «« U7H 148 150 150 153 Chlo. Juno. & Vn. Stock Yds. " ...100 75( 143^ Jan 163 Feb. 15 '.','.'... *127 •ia?" 19-« 138 '137 'liJ9 138 Preferred ' ...100 b 136 Jan. ISO Jan. 84 4 43^ 7 42% 4294 43^ 42it '43^ 48 3« Ohootaw Oklahoma & aulf . . ( Phila. 1 ... 60 718 37^ Jan. 43 Feb. •46 48 40 46 48 46H teyt 46« 4594 46 Preferred , ... 60 37t> 45% Jan. 40H Jan. 80 •14a 143 143 143 142 143 143 , 143 143 FltchburR, pref (Boston ) ...100 37' 13» Jan. 143 Jan. as 83<< S3 S3M S3H 33% 8314 32% Lehl«h Valley (Phlla.) . ... 50 9,963 38% Jan. 35 Jan. 13 86 aOHi 38^ aejt 26^ 3t)% 30 28 •35h 26 Massachusetts Hleot. Coi.f.( Boston). ...100 S»,670 84 Jan. 88% Feb. 13 79!< 79W T9H 79H 7«H 7flH 80 80 7B94 7e94 Preferred T ...100 857 77% Jan. 80 Jan. 7 179< 18H 17H 18% '79< 18 l-« 18 17 Pref! " 60 68% PennBHec Veh.(PhU) 60 3% West End 8t 5s. .'02 MAN {108 ' • • • •) B Boro Gas Ist 5b.'38MAS 44 I Sa South & Fla.(Balt)100 I • • • • Pref " 60 4%s 1914MAS i Cambrtalron 6s.l917 JAJ 1st pref " 100 9694 90 Pennsyl Salt... " 60 Deb 48 1916 MAN no6 Che»&DCanl8t5s.'16JAJ 60 8d pref " 100 73 Pennsyl SteelT. " .... 70 Bonds—Baltimore. ChocOk&G gen 58'19JAJ 109 ft'nnant'n PaBs(Phll) 60 149 Pref! " 100 Anacostia A Pot 58 871a 89 Clt's'St Ry(Ind)con 5s.'33 100 Hestonv MAT" 60 44 Phlla Co. " 60 46 Atl A Ch Ist 78.1907 JAJ lie 118 Colum 8t Ry 1st oon 5s.'32 Pref " 60 78 Plaiiter8CompT(Bost)lOO 19 80 AtlG-Llghtl8t58l917JAD Con Trac of N J Ist 5s.. '33 108% " Inds Street " IOC •••••• yuinoy Mining. 35 176 177 Atl Coast L ctfs Ss . . JAD Del A B Bk l8t78.'05 FAA KG FtS AM..(B08t)100 80 83 Rhode Isl Mln.. " 85 Bait Beit Ist 5s.l990MAN BastAA Ist M 5s.'20 MA.N 116% " 100 130 140 Santa Ysabel " 5 8% BaltCPa8l8t58.1911MAN 111 118 Bdison Elec Ss stk tr otfs. Pref d 102" Llttla 8ohuylk.(FhU) 50 68 Susquel A8T[..(PhU) 5 Bait Fundg 58.1916 MAN 186 BlecA Peop's Tr stk tr otfs Maine Central. (Boat) 100 165 iVo' Tamarack Mln. (Bost) 35 886 340 Hzohange 3%8.1930JAJ 118% 118% BImAWilm Ist Os.'lO JAJ MlnehUiABH.lPhll) 60 60% Tidewater 8t... (PhU) 10 «)* BaltAPlstesml 1911AA0 Income 5b.. . . 2862 AAO Hesquehon'g V. " 60 Torrlngton"A"(Bost) 35 86% H' 1st 6s tunnel 1911..JAJ Bq IllGas-L I8tg58.iy2>- 109 " North Penn.... 50 Pref " 36 87 >4 28 Bal Trao lst58.1929MAN 117 Hestonv M A F oon 58. '24 117 • •itt * " Per« Mar4u't«.(Boit)100 64 65 Un Cop L A M'g 85 3 3>9 Bzt A Imp 68.1901MAS 103 103% HA B Top oon 5s.'25 A tO 109X • •••• Pref " 100 74 76 UnBlLAPowpf (Bait) 60 361.J 37^j NoBaltDlv5s.l942JAD 181 Indianapolis Ry 4s. .1933 78% Phil Oerm & N.(PhU) 60 168 United Fmlt (Bost) .100 I'^e^ 127>3 Gonv'rtible 5sl906MAK icm K C Sub B Ist 8s..'20 JAD • '• 81 .'14 113 Phlla. Traction 60 100 Dn Shoe Maoh.. 35 311a Central Ry 68. . . 1 9 1 3 J AJ Lehigh Nav 4%s. Q-J Bts Go Oenerall " .... 3 Pref " 35 34 24H Consol58....1933MAN 118 180 RR4ng. 1914 Q-F 108 ..... United N J.... (PhU)lOO 380 U 8 Mining.... " 25 18 18% Bzt A Imp 5S.1932MA8 116 Gen M4%8g.. 1924 U-F UnPow* Trans " 86 40 D8PHor8eCol.(PhU) 1 Chas City Ry Ist 6s '23JAJ 105 Leh VG'l lst5sg.'33jAJ 105% ibo" V7estBndpref.(Bost) 60 110% 111 UUh Mining.. (Bost)4-86 84% 85 Chas Ry a A Bl 5t '99 MAS 83 85% Leh Yal ezt 4s.. 1948 JAD 130 WertJer4 8 8.(PhU) 50 Warwick I A 8. (PhU) 10 7 CharlCAA ezt58.1910JAJ 106H 2d 78 1910 M&ti 180H WestNTAPa. " 60 7^1 Westm rel Coal " 60 Sd 78 1910 AAO Consol 6s 1933 JAD 183% Wit Gent, new.(Bost)100 16 17 Winona Mlnlng(Bost) 85 7)4 7H GltyASub l8t58.1922JAD ii? 118 Annuity 68 JAD Pref " 100 43 46 Wolverine Mln. " 35 60% 0094 CltyA8nb(Wash)l8t5s'48 87% 90 Nat Aspb alt col 68 46M Wor Nash A R. " 100 ISO 136 ColAGmvlst5-6.1917JAJ 130% New'k Cot Gas 5s '48 JAD lue MI8GBLLANB0US. Bonds— Boston. Gonsoi Gas 68. .1910 JAD 114 lV4% Newark Pass con 58.1930 • •••* AUouas Mlnlng(Bost) 85 8% 394 AmBeilTel4s..l908 JAJ 100 100% 5s 1939JAD 118 113^ NYPhil&Norl8t48 '39J&J 104 4mer.Cement!(PhU) .... <5« ATA8Fgeng4s.'95AAO 101 103 Ga AAlal8tpf5sl945AAO 107 108 Income 4s... 1039 M&N 85 Amer. LAS... 60 Adjnstment g 4s.. 1995 { 93% 93 QaCarANl8t58g.l929JAJ 103% 104 No Penn 1st 48..'36 MAN Axoadlan (Bost) 85 18 19 Boston Term'l 3%s. .1947 jll6 116 GeorgiaPlst5-6s 1923JAJ 184 126 GenM7s 1903JAJ io'; Arnold Mining. " 36 894 February 16, 1901.J THE CHRONICLE 3»3 Invcstmtnt anil l^ailroaxl %nUlliQcnu. RAILROAD EARNINGS. The following table shows the gross earnings of every Steam railroad from wliich regular weekly or monthly returns oan be obtained. The fii'st two columns of figures give the gross earnings for the latest week or month, and the last two oolumns the earnings for the period from July 1 to and including such latest week or month. ITie returns of the street railways are hrnuuht toaether separately on a sub^erpient page, Notice Change—We have changed our yearly totals so as to make them date from July 1 instead of from Jan. 1. Latett Orott Earnings. July 1 to Lateat Date Lateat Qrou Baminga. Jaly 1 to Lateat Bate BOADB. BOADB, Ourreni PreviouB Current Current I Previoui Current 1 Previoua Weehor Mo Previoui wee/toritr^.u,^^ Molu^. Fear. Tear. Toar. Tear. j^^ ^ear. Tear. Tear. 9 S 9 • • « 9 S Adlrondaok...- November 13,012 15,399 83,775 94,635 LosAng.Term. January.. 13,087 7,816 99,664 72,^55 44,9S3 Aia. Gt.Soutli. l8twk Feb, 3^,2» 376,146 Ala. Midland.. Oeceiuber. 101,390 82,184 528,941 467,703 Louis. ANashv. Istwk Feb 566,905 552,810 17,457,905 17,072,532 AJa.N. O.&Tex aH Pao.Jau 0.— Macon ABlrm.. January .. 11,535 6,069 66,902 45,119 N.O.&N.E... Ithwh; Jan 67,000 80,000 1,155,135 1,089,497 Manlstlque January.. 7,380 8.121 45,914 49.0»9 Ala.&VlokHb. 4thwk Jan 37,000 35,000 559,550 529,609 [Mexican Cent. Istwk Feb. 348,730 306,231 110,050,085 10,066,711 I, '"83. Vlckfl.8h.&P. 4thwk Jan 35,000 31.600 511,54^ 448,521 Mexlcanlnter'l. November. 493,670 354,672 ; 2,232,119 299 Ann Arbor Istwk Feb. 28,627 27,384 1,061,814 1,048,222 JMex. National Istwk Feb. 137,033 123,918 4,436,988 4,346,475 An.WaB.<5!Bal.. Deotmber. 5.778 5,530 32.457 37,748 Mex. Northern. November. 49,367 37,183 292,302 267,342 Ark. Midland... November. 16,647 16,408 61.230 69.99^ tMexloanRy... Wk Jan.26 89,500 96,800 2.442,900 2,529,310 Atoh.T.&8.Fe. December. 4.7,56,629 4,142,^66 26,916,616 23,813,482 Mexican 80 3dwkJan. 18,834 15,533 424,407 398.897 9.'S9,177 Atlanta & Char. October . . 278.886 255,396 830,485 Mlnne'p.&St.L. Istwk Feb. 63.136 44,484 1.979,714 l,7gM,447 AtLKnox.&No January .. i)7 001 32,10d 282.458 252327 M.8t.P. Bait. & Lelilgh. December. 11,427 10,966 79,485 82,348 Mob.Jao.&k.C. WkFeb. 9. 2.644 2,409 84,506 I 65,136 Bait. & Ohio..) Mobile A Ohio.. January .. e5S9,600 £542,941 e3,718,300 e 3,651,993 January .. 3.995,159 3.550,011 27,551,535 24,72 J,164j 692,151 B.&O. Bou'w- 5 Mont 334 THE CHRONICLE. [Vol. LXXII. Totals for Fiscal Year. 1st week of February. 1901. 1900. Increase. Decrease. In the full page statement on the preceding page we show $ the gross earnings of all roads for the period from July 1, Toledo Peoria AWest'n. 21,490 22,226 736 Tol. beginning of the fiscal year of the great St. L. & West 51,416 34,143 17,273 that being now the •Vabash some roads that 319,406 317,256 2,150 majority of the roads. There are, however, Wheeling & Lake Erie. > 48,969 48,696 273 still have their own fiscal years. These with their dates are Olevel'd Canton & So i brought together in the following. visconsin Central 84.980 79,724 6,256 Latest Oross Earnings. Total (62 roads) 8,222,202 7,728,170 571,002 76,970 Net Increase (6 39 p. o.^. 494,032! Roads. Period, Current Previous Tear. Tear. For the fourth week of January our final statement covera 69 roads, and shows 9 11 per cent increase in the aggregate 1,329,669 Atlanta & Charlotte Atr Line. Apr. 1 to Oct. 31 1,472,515 over the same week last year. Burlington Cedar Rap. & No. Jan. 1 to Feb. 7 515,741 442,326 Central of New Jersey Jan. 1 to Nov. 30 13,927.525 13,707,905 2H,.'S73,027 Chicago & North -Western.... June 1 to Dec. 31 26.160,6.59 4:lh week of January. 1901. 1900. Increase. Decrease. Ohicafjo Rock Island & Pac. Apr. 1 to Dec. 31 19,864,753 17,914,588 Chic. St. P. Minn. & Omaha.. Jan. Ito Dec. 31 10,342.000 10,488.314 9 S 9 9 Choctaw Okhiiioma Philadelphia & Erie Jan. Ito Dec. 31 5,824.635 5,348,038 . Oross Earnings. .. Net Earnings. > Phila Wiliu'g'n & Baltimore. Nov. Ito Dec. 31 1,961,062 1,911,162 Current Previous Current Previous Pitts. Clncin. Chic. & St. L... Jan. Ito Dec. 31 18,99.5,728 18,104,423 Tear. Tear. Tear. Tear. Pitts. Bessemer & Lake Erie. Jan. Ito Feb. 7 155,705 128,989 Roads, m 9 Pitts. Charters & You'gh'y. . Jan. 1 to Oct. 31 165,089 154.009 Inn Arhor.b Dec. 169,679 150,010 76,840 59,366 Bio Grande J unction Dec. Ito Nov. 30 5!S8,679 439,341 Jam 1 to Dec. 31 1.731,601 1,665,968 404,645 461,791 St. L. Vandalia & Terre H.... Nov. Ito Jan 31 476,817 476,985 An stln & Nortw'n . b Dec. 33,836 14.655 19,347 2,300 <& Eastera South Haven Jan. Ito Sept. 30 52,160 33,898 July 1 to Dec. 31 144,167 93,224 62,835 16,782 South. Mispouri & Arkansas.. Jan. Ito Dec. 31 184.846 130,666 Bait. <% Ohio.b 3,995,169 3,550,011 1,400,582 1,219,836 Terre Haute follows we sum up separately the earnings for the latest Buffalo Gas Co. . 37,253 41.679 week. The table covers the first week of February and Oct. 1 to Jam 31 134,589 144,976 shows 6*39 per cent increase in the aggregate over the Central New Eng. -Dec. 65,546 68,496 28,151 24,433 July 1 to Dec. 31.... 369,435 392,056 92,965 90,935 same week last year. Central Pacific. b.. Dec. 1,475,018 1,331,805 487,782 347,192 July Ito Dec 31. ...10,408,983 10,199,725 4,327,829 4,350,531 l8t we«k of February. 1901. 1900. Increase. Decrease. Central Penn. &*W. Dec. 1,752 2,162 def.85 255 July 1 to Dec. 31... 12,347 12,264 def. 1,703 def.988 9 9 s 9 Alabama Gt. Sonthern. 44.983 38,229 6,754 Chic Gt. West'n.b.Dec. 556,666 548.348 159,617 188,546 Ann Arbor...... 28,627 27,384 1,243 July 1 to Dec. 31... 3,604,534 3,493,553 1,169,380 1,252,174 Buflalo Roch. A PlttBb'g. 96,980 96,565 415 Ohlc.Ind.&Louls.a.Dec 851,462 336,501 135.841 110,853 BnrL Ced. Rap. & North. 89.734 81.858 8.376 July 1 to Dec. 31... 2,113,198 2,151,157 806,126 867,686 Canadian Pacific. 489,000 486,000 3,000 Oln. Ports. &Va.b..Dec. 32,472 29,534 8,851 9,340 Central of Georgia 161,745 144,705 7,040 July 1 to Dec. 31... 215,718 186,901 61,693 61,025 Chattanooga Southern. . 1,486 1,897 ...» - 411 Chesapeake & Ohio 245,194 222.197 22,997 FlndlayFt.W.AW.b.Nov. 9,458 10,230 1,275 349 Chicago & East. Illlnola. 113,839 111,911 1,928 July 1 to Nov. 30... 51,279 60,156 8,016 8,042 Ohio. Great Western 123,428 129,208 5.780 i^t. W.& Den. Oil y b.Dec. 182,134 150,434 39,684 36,297 Chlc.Indlan'lis & Loulsv 65,670 72,708 7,038 Jam 1 to Dec. 31... 1,807,090 1,610,853 387.019 388,180 Chicago Mllw. & 8t. Paul 712,107 682,265 29,842 tUlaols Centra). a. ..Dec. 3,267,706 2,810,570 1,275,568 1,081,271 Ohio. Term. Transfer... 24.470 22.986 1,484 July 1 to Dec. 31... 18,456,700 16,380,964 5,413,871 8,522,178 Oln. N. O. & Texas Pac. 89.882 87.991 1,891 Olev.Oln.Chlo. &8t. L.. 295,367 307,34S 11,978 miDois Southprn.a.Dec. 8,550 249 Peoria & Eastern 48.847 49.308 461 July 1 to Dec. 31 59.985 9,831 Olev. Lorain & Wheel'g.. 29.608 32,02 y *•• •»•< 2,426 Long Island RR.b— Col. Sandusky & Hock'g. 17,353 19,540 - • -... 2,187 Oct. 1 to Dec. 31.... 1,031,342 1,005,095 150,058 192,196 Denver & Rio Grande... 182,200 171,400 10,800 July 1 to Dec. 31 2,658,480 2,600,637 830,597 833,058 5,28"6 Duluth So. Shore & Atl. 38.438 43,724 Elevated Byansv. IndlanapoUs. 5,016 5,638 622 Manhattan b— A 1 Dec. 31 2,526,036 2,507,687 1,185,339 1,178,954 Bvansv. & Terre Haute. 23,658 26,523 2,865 Oct. to July 1 to Dec. 31 4,415,636 4,420.516 1,838,229 1,812,764 Pt. Worth & Rio Grande 11,419 7,267 4,152 Bfexlcan Telephone . Deo. 15,910 14,037 7,527 5,971 Brand Trunk ) Grtind Trunk Western > 477,094 463,723 18,371 Mar. 1 to Dec. 31.... 154,260 130,361 69,233 53,206 Det. Gr.Hav. & Milw. > N. Y. Chic & St. L.b— Hooking Valley 83,744 81,292 2.452 Oct 1 to Dec. 31 1,903,952 1,966.522 367,297 424,662 Intem'l & Gt. Northern.. 81,447 80,417 1,030 July Ito Dec. 31.... 3,709,633 3,757,116 900,241 889,277 Iowa Central 43,186 42,022 1,164 N. Y. N. H. & Hartfordb— Kanawha 19(1. Febbuary 16. J THE CHRONICLE. 335 Latest Gross Earnings. \ Jan. 1 to — OrOSS Eamingt.— Net Earnings.^— OBOS8 Latest Date. Ourrent Previous Ourrent Previous Eabnimos. Our'nt Prev'us! Current PreHotu Year, Year. Year. Year. Weekor JIo Year. : Year. Year. 1 Year. Road$. Boutbern T&oiQc— (Continued.) I 9 so. Pao. oiArlz.b.Dec. 42(!,821 353.536 236,860 192,685 Toronto Ry November. 128,f^49 102 .502 1,357,200 1,191 163 July 1 to Dec. 31... 1,953,639 1,803,116 1,009,065 793,516 Twin City Rap. Tran. December. 256,819 236,629 2,839,35.5 2,522 793 fTn)on(N: Bettfordt.. December. 20,546 19,010 Bo. Pao. of N M.b.Dec. 226,692 181,963 144,761 107,341 252,026 228,352 Union Traction Co. July 1 to Dec. 31... 1,019,220 983,525 622,430 569,951 (Anderson. Ind)... January ., 44,529 34,658, 44,529 34,658 Staten Island Rapid Tr.— United P. & Transp.. December. §2n«. 8, 180 line. 214 118,660 122,681 J082 Oct 1 to Deo. 31... 50,742 54,618 United Traction— ) December. 115,759 109,899 1 1 ,331 .458 1,268,041 ToLPeorlaA West. b Jan. 96,292 86,364 20,747 23,664 Albany City { July 1 to Jan. 31... 702,431 650,883 178,797 173,420 United Tract. (Pitta.) December. 167 072 151,608 il,900,403il.688 691 United Tract (Prov.) December. 202,183 176,115 2,360,756 2,020,560 a Netearnlnf^B hereKlven are after deduotlnK taxes. Wllm. New Loniton St. Ry . December. 4,031 8,201 61,086 56,189 Norfolk Ry. & Light November. 129,904 30,104 424.180 379,006 ANNUAL REPOR-rs. Northern OhloTraot. December. 38,395 32,959 42f),HS7 362,702 OgdensbargSt Ry.. December. 21,859 22.134 1,426 1,409 Index. The index to reports published during the last Clean St Ry December. 4,428 4,069 51,880 47,109 — Omaha & Conn. Blufl half of 1900 can be found by referring to the general index Ry. A Bridge December. 17,944 17,812i 236,703 214,188 in Chronicle of Dec. 29, where all [references to annual Philadelphia Comp'y December. 276,301 220,025 2,482,881 1,867,691 reports are designated by heavy type. Pottsv'e Union Trao. December. 142,466 128,983 Railways Co. General December. 16,330 Boston Elerated Railway. Richmond Traction.. December. 16,803 15,273 205,732 174,325 Sacramento Electaio ('Report for the year ending Sept. SO, 1900. •Gas & Ry December. 32,826 31,469 373,625 330,404 Chairman William A. Gaston, under date of Dec. 31, says St. Louis Transit January .. 431, '.'OO 446,086 431,200 446,086 Scranton Railway •.. December. 139.380 154,818 540,543 530,057 in substance: Seattle Electric Co. . November. 99,371 89,353 Leased Lines.—the usual increase of trafUo upon our leased lines Southern Ohio Tract December. 24.744 19,576 294,907 24d",3V7 has taken place and the year has generally been one of prosperity. Staten Island Elec .. December. 13,178 13,036 209,645 203,897 We have adopted the nollcy of liberality in the building oi new lines Terre Haute Elec.Co. November. 21,228 15,172 of surface track at the public demand, even althougu the lines do not promise an immediate profitable return. In aooordanoe with Uxls . J . 33fi THE CHRONICLE [Vol. LXXII. policy we have built and equipped some 35 milCB of surface track la Jan. 27 to April. 1899, to and about Bof-tou. With the operation of the elevated lines there Is Dec. 31. 1900. Dec. 31, 1900. much hoi e thai the necessity for new surface oars and equipment will Net sales $29,673,20t) $50,766,615 materially diminish. Otherincome 85,241 194,689 Our accounts against our lessor company for the first two years of the lease have been amicably and satiDfactorily adjusted. Tue West Total net $2^,758,4 48 $5'',961,205 End Street Railway Co. was authorized on July 25, 1900, by the Rail- Cost and expenses 26,919,396 45,437,975 road GommissioD to issue 15-year 4 per cent bonds with which to pay our charges for the two years above mentioned. These bonds were Net profits $2,839,051 $5,523,230 sold and the proceeds, $2,020,517, were paid to us (see West End re- Addsurpluson Jan. 27, 1900 931,309 por', V. 71, p. 1)65). Adjust, acots. of Nat. & Prov. mills 261, '02 Elevated Structure.—Oa this date all the structure between Rox- bury and Charlestown has been erected, except the connection at the Total net profit $4,031,563 $5,523,280 the southern northern teruniius of the subway and the eonneotlon at Deduct— Preferred diviaena. $1,400,000 $-',391,666 end of the is being rapidly completed. Trains should subway, which Prop of Nat. & Prov. mills, profits to be running over this i)ort1on of the elevated structure in May, 1901. outside stockholders 25,912 25,912 The work on the loop from the corner of Washington ana Castle Charged oft" plant values 500,00' 1,OCO,000 streets to the North Union Station via Harrison Ave., Beach St , At- lantic Ave. and Commercial St , is somewhat more delayed; but a con- Balance Jan. 1, 1901 $2,105,650 $2,105,650 siderable portion of the structure ou this line has been erected and the work Is now progressing with rapidity. All foundations tor piers BALANCE SHEET OF JAN. 1, 1901. are In and all work and equipment under contract. Assets— While it is all requirements us by the believed that Imposed upon Plant, fixtures and Investments ($40,235,732, less $1,- statute of will be met before the time therein set has arrived, we 1897 000,000 charged off) $39,235,732 have deemed It wise, in a spirit of caution, to ask the Legislature to Cash 1,670,023 extend that time six months. The character of the structure built Accounts receivable $5,587,997 cannot be to-day exceled. On Nov, 14, 1900, we were authorized by Less amount to anticipate discounts and bad the Railroad Commissioners to build our structure over a route ap- debts 475,209 proved by the Board of Abiermen, over Washington St;., Roxbury, from the Bartlett Street stables, to TowDsend St. This structure, to- Net customers' accounts 5,112,788 gether with the structure previously autUorized, will exceed the Inventories 13,0^9,578 requirement of 7 miles of elevated structure under the Act of 1897. Surplus wool 3,424,480 Earnings. —The results of op3ratioa8 were giyan on page Total $62,482,601 1165 of the Chronicle of D^c. 8, The balaacd sheets com- pare as follows: Liabilities— Common stock $29,501,100 BALANCE SHEET BOSTON ELEVATED RY. SEPT. 30. Preferred stock 20,000,000 Capital stock of National and Providence mills (2'61 per 1900. 1899. 1900. 1899. cent not Assets- $ ( Liahilities— $ « yet acquired) 52,200 Construction, equip- Common stock 10,000,000 5,,000.000 Unmatured bonds ot National and Providence Mills and ment, &c 4.157,1321,424,937 Voucnersandaccts. 695,720 19^,97 1 Chase Mills 405,000 Cash 7,088,6a7 3,5«9,160 Salaries and wages. 149,067 114,:i21 Bank loans.... 4,912,000 Bills and accounts Dlv. and coupons... 30,598 44,273 Current vouchers, etc 2,082,170 200,187 83,239 Rentals unpaid 817,9"5 receivable 317,975 Sterling credit Deposit wic h State.. 50U,U00 500,000 do not due 131,825 131,823 on woo' 3,424,480 Material and other Int. & taxes not due 962.585 879,970 Balance undivided profits 2,105,651 property 215,429 232,6?6 Tickets, ch cks. etc. ll»,&66 19,970 West End accounts 2,584,628 2,«82,845 West End lease aoc. 1,227,208 1,,227,V0!( Total $62,482,601 Miscellaneous 342,862 814,862 West Ji^Qd spec, ace . 73,754 Damage &oth.t'ds. 1,143,262 770,222 —V. 71, p. 1312. 1316. Surplus 401,970 265,1)5 Total 15,088,775 9,037,668 Total 15,088,775 9,037,668 Diamond Matcli Company. —V. C9, p. lOiO. (Report for the year ending Dec, 31, 1900.) Sonth Side Elevated Bailroid of Chicago. President Barber in his report said in part: (Report for year ended Deo. 31, 1900. General Remarks.—The statement shows the largest net earn- ings yet attained Is any one year. This has been accomplished with- Carter, at President ths annaal meeting, stid, in part: out an advance of prices and against an additional costoi our product The passenger traffic for the year 1 900 shows an Increase of 1-44 per of lip. c, due to the advance in the cost of raw material. Should cent over the traffic for 1899, a very satistaotory result. The operat- we be as successful in holding the trade in the future as In the past, ing expenditures Included $55,000 used In renewing the older cars. we shall have use for some of our surplus earnings to Increase our Two large new engines have been put In operation in the power output In order to keep up with the demands made upon us. I think, house, doubling the engine power, which is now 10,000 horsepower. therefore, that it will be the policy of tne company to make gome ex- Thirty new cars have been purchased; $50,000 has been ex- tensions of its plants during this sear. pended for additional copper cable. All these expenditures for im- English Company.—Our progress in England has been very satis- provements and additions are met out of the net Income of the prop- factory. The trade of 1899 increasad over that of 18i<8 by 10 per erty, without any increase of the bonded debt. No further addiiions cent, and the trade of ISO J increased over that of 1899 by 40 per cent. of this character seem to be necessary in the Immediate future. The English company is now showing good earnings on its common After n long delay the Apoellate Ooui-c denied the writ of error of stock, and will probably soon begin paying dividends on it. It would Wells acd otUers, brought against the foreclosure under which our seem possible for the company to take the entire English trade in company holds title.—V. 72, p. 243. time. At the rate ot Increase we are now making, it will not take many years to accomplish that eud, unless our competitors change The earnings, expenses, chargeg, etc , are given below: their methods. Our factory there Is now producing quite 40 per cent 1900. 1899. 1898. 1897. more goods than were consumed in the United States at the time of the organization our ago. English (W moa.) of company, twenty years The Passenger earnings...... $1,249,544 $1,131,404 $944,927 $611,876 compan.v owns a majority of stock In two factories iujSouth Africa, Other sources 37,094 38,976 33,403 25,470 one in Port Elizabeth, the other in Cape Town, which are also in suc- cessful operation. Total gross .$1,286,638 $1,170,330 $97S,33D $637,345 Other Factories.—The factory in Peru, In South America, is In Operating expenses successful and profitable operation. The factory In Glermany Isjiist fctctories will income. Maintenance of way $44,8 45 $50,754 $31,610 $22,736 starting. All of these soon bi adding to ou- The increase of trade on the Pacific coast (with a possible export Malnt. of rolling stock. . 1 06,685 79,489 .54,156 40,627 trade) will soon our attention, warrant the Conducting trausporta'n 333.113 297,490 37.^.851 348,659 prompt and no doubt factory there. It will also soun necessary to build Gen. expenses and taxes. 100,188 88,4/1 89.4=)0 10j,380 buiiaing of a be a Loop rental & expenses. 163,571 1?3,727 133,319 factory In the Northeast, where the company Is accumulating a large tract of standing pine, and where the traie Is rapidly changing from Total $748,402 $660,931 $682,386 $515,402 the old-fashioned sulphur match to the parafflue match. Patents, Etc.—The company has this year acquired foreign and do- P. ot. of op. exp. to earns. (58 2) (572) (69-8) (76.'S) mestic patents for the manufacture of matches which seemed liable to Net earnings , $538,233 $500,449 $295,944 $121,943 It is seen from couditions that Bond interest 33,750 33,7fO 22,500 become competitive. therefore these Dividends 306,765 306,672 the company Is in as good, it not better, shape than it ever has been to conduct its increasing business. Balance, surplus $1&7,721 $160,026 $273,444 $121,943 Comparative statements of earnings and balance sheet fol- The balance sheets Dec. 31 showed: low: 1900 1899 1*^98 Assets— 1900. 1899. LiabUities— 1900. 1899. Earnings $2,014,839 $1,513,767 $1,155,997 Costof prop'rty. $11, 734,690 $11,388,975 Capital stock .... $10,323,800 $10,823,800 Dividends $1,475,000 $1,193,750 $1,100,000 Cap. stk. owned. 92,390 92,330 Funded debt 750,000 75'>,iii Materials, etc.... 24,158 16,790 Depreciation 5 >,000 15,943 Depreciation, etc 259,856 31,500 Accounts receiv. 4,380 9,056 Curr't liabilities.. *224,888 80,861 Due from agents 4,031 6,244 Reserve 597,386 49J,340 Balance. - $279,983 $320,017 $24,497 Current assets... 8,173 5,023 Surplus forward 820,017 500,000 275.503 Casb on hand.... 78,251 151,526 Total surplus $1,100,000 $820,017 $300,000 Total $11,946,075 $1 1,669,945 Total $11,946,075 $ 11,669,945 balance sheet Die. 31. •Includesdivldend, taxes and December pay-roll; total reduced to $'iO,000 since date of balance sbeet.—V. 72, p. i43. 1900. 1899. 18F8. 1897. Asset:,— $ $ $ $ American Woolen Company. Realest., fact's, etc.. 10,689,269 10,883.104 8.404.223 8,083,036 Matches 455,170 592,017 560,727 519,553 979,099 859,8:3 695,190 (Report for period Jan. 27 to Dec. 31, 1900. Lumber 744,183 J Pine stumpage 1,025,392 683,266 446,398 398,088 President Ayer says in part: Logs 882,605 1,193,298 1,294.158 1,263,298 Misc. mer.& raw mat. 245,707 271,924 206,924 204,840 Since the organization of the company several of the mill buildings Miscel. investments 129.400 131,900 131.900 131.900 have been materially enlarged and the equipment of the various mills Accounts receivable. 999,791 763,7 82 562,823 646,685 has been improved, increased atd readjusted, with a view to concen- Bills receivable 199.636 93,813 50,123 57,323 tration operation, of economy of production and Increase of output. (Jo.'s stock owned.... 250,000 250,000 The expenditure for Improvements and permanent additions ot this Cash 524,253 305,038 127,844 178.446 character amounts to about $1,750,000, with the result of Increasing the productive power of the mills about 16 per cent. The plants of Totals 16,380,233 16,028,015 12,529.303 12,178,388 the American Woolen Co. comprise 603 acres ot land and the mill buildings, principally of stone and brick, contain 5,480.065 square Liabilities— feet of floor space. The equipment includes 298,980 spindles, 541 Capital stock 15,000,000 15,000,000 11,000.000 11,000,000 sets of cards, 166 combs and 5,410 looms. The phyalcal condition of Accounts payable.... 280,233 207,998 294,645 237,885 the properties is on the whole excellent. BlUi* payable 934,658 665,000 Surplus and profit... 1,100,000 820,017 300,OCO 275,503 The results for the late fiscal year (Jan. 27 to Dec. 31, 1900), and for the entire period of the company's existence were as Totals 16,380,233 16,028,015 12,529,303 12,178,388 below: -Y. 72, p. 283. 1 FEBRgARY 16 1901. J THE CHRONICLE. b37 North American Company. The company was organized Jan. 26, 1899, and acquired interests in various comranies, the portions of (Balance Hheet Feb. 1, lOoi.J whose earn- ings represented by such interests from the date of acquisi- Afuclg— I Liabilitie/i— Cash $2,256,426 Capital stock $11,936,700 tion to Dec. 31, 1900, amounttd to $3,218,018. This hum is Bills Aacotsreceiv... 899,743 apportioned to the fiscal years 1899-00 and 19ii0 01 of th» Stocks x4,3nl 015 Rubber Goods Co. as follows : Btks. (lue'under oont't 1,-50.000 \ Good-wlll.coutra'B,&c 2.679,516 < 1900-01. 1899-00. ToIjI. Net earnings of properties Total $11,9J6,700 Total $11,936,700 acquired b$l,>=0S,596 a $1,409 422 c $3,218,018 Less earnings reserved 714,485 557,298 1,271,783 X tnoludpfl $5,224 Milwaukee Electric Ry. & Light Co. preferred stock and .«3,494,991 of Its coramou stock; alBO $!J50,800 Cincinnati Rec'ved by Rubber Goods Co.$l,094, 10 $8=12,124 $1946,2^6 Edison Electric Co. stock. -V. 72, p. 187. Deductions c 324,303 53,686 377,989 $769,808 $798,438 $l,f68.246 People's Gas Light & Coke Co. Netlncome Preferred dividend (7%)541,180 (5i4%)340,770 (12>4'?i:,)&81,950 fReport for year ended Dec, 31, 1900. J Common dividend (3%)472,233 (3%)472,233 Prpsident Billings, at the annnal meeting, said in part : Balance def. $243,605 $457,668 $214,063 "The year has been a prosperous one, for while the com- Earnings rfserved 714,486 557,298 1,271,783 pany h£8 been subjected to much annoyance from those Surplus of previous year 1,014,965 whose motives we do not care to impugn, it has steadily Surplus $1,485,846 $1,014,965 $l,4fe5.846 grown both in the good will and the patronage of its cus- tomers. As explained in the lagt annual report, the com- a From date of acquisition to Nov. 1, 1899. b From Nov. 1, 1899, Dec. 31, 1900. 14 months. <•, This item Includes simply expenses pany took advantage during 1899 of the very low figures for to and an amount understood to be about .$200 000 paid on agreement. street mains and service pipe which prevailed in that year to BALANCE SHEET OF FEB. 1. largely extend its mains in new territory. As we then fore- Assets— 1801. 1900. saw, the price of pipe coatinnei high during the year 1900, Cash $425,746 $318,247 and consequently the increase in mileage last year was small Accounts receivable 45,585 765,590 by comparison. We show an additional mileage of street Net earns., prop, acquired, less am'ts rec'd. 1,271,784 557,297 Investments 25,141,149 22,129,732 mains in 1900 of about 33 miles, as against about 131 miles during the previous year. Notwithstanding this compara- Total $26,884,264 $^3,770,866 tively small increase in mileage, we show a gain for the year Liabltities - Common stock $16,941,700 $15,134,600 of over 25,000 meters and over 19,000 additional gas stoves. Preferred K took 8,051,40O 7,621,300 "There has been a considerable increase in the amount of Deposits by companies 405,317 depreciation charged off. This is largely due to the unusunl Surplus 1,485,847 1,014,968 amount of work done in remodeling the plant, introducing Total $26,884,264 $23,770.86^ modern appliances, and bringing the property up to a high having resigned as director, was succeeded standard of excellerce, and at the same time providing facil- Percy Chubb at the annual meeting on Monday by Charles ]\I. Bull, of L. ities for the distribution of a larger amount of gas." W. Minford & Co. The date of holding the annnal meeting 1900. 1899. 1898. 1897. Sales of manufact'd was changed from the second Tuesday in February to the gas (cubic feet)... 7425979693 6879419988 6114587380 5795124208 second Tuesday in April,—V. 71, p. 438. Gross receipts $9,090,337 $8,09P,320 $7,265,526 $"',125,439 Oper. expenses 4,447,787 3,813,038 3,795,301 3,688,976 Net earnings $4,642,550 $4,283,282 $3,470,225 $3,436,463 GENERAL INVESTMENT NEWS. lEterest on bonds... 1,857,300 1,857,300 1,842,300 1,842,300 Depreciation 584,175 464,409 RAILBOADS. INCLUDINe STBEET B0AD8. Total $2,441,475 $2,321,709 $1,842,300 $1,«42,300 Atlanta Railway {lo.—Electric Lighting Fran- Bal. for dividends.. $2,201,075 $1,961,573 $1,627,925 $ .,=.94,163 & Power Dividend, 6 p. 1,720,128 1,720,128 6 per cent. 6 per cent. chise.— The City Council of Atlanta, on Feb. 5, voted unani- mously to grant the company a franchise for electric light- Surplus for year $480,947 $241,445 (?) (?) ing, but later voted to consider the matter further at a BALANCE SHEET DEC. 31. meeting next week. If then approved, the ordinance must 1900 18P9. 1900. 1899. be acted upon by the Board of Aldermen.—V. 71, p. 1066. Asset»— t « LinhiHties - $ $ Real eat., franch's., Capital stock ,30,000,000 ."JO.Or 0,000 Atlanta Rapid TransitCo.—Siaius.—Secretary and Treas- tun'ls., malu8,etc.66,421 817 65,420,660 Mortgage bonds.. 34,4fl6,C00 34,49fl,000 urer H. M. Atkinson writes as follows : Materials 4i'n ,4 89 467,1.GUI Gas bills deposits. 69,C69 77.819 Securities! '1,475:.956 1,476,!,P55 Accts. payable 344.304 348,386 Our system built under franchises granted ns by the city of Atlanta Accis. aoo,7 receivable.. 1^6, 174 Coupons past due . 354.2-fO 365,990 during the year 1h99 Is practically completed. Our line to North At- Bond coup, (leoos's 352, 174 854,3,3(M Bills payable . 700,000 lanta and the Exposition Park has been in operation since October, Gas bills recelv.... «04 ,048 889,6 Bond int. accrued. . 217,868 217.858 our line to the city of Decatur has been In operation for about a week City of Chicago.... 12.,696 J 40.4,422 Surplus . 4,130,621 3,649,574 Cash; 468 ,828 19il,2.269 and our line through South Atlanta, terminating at Lakewood, la nearly completed, and will be in operation in a few weeks. The con- Total .70,311,983 69.145,628 Total 70,311,983 69,145,628 struction of our Hunter Street line to Qrant Park under franchise granted in December, 1900, has been temporarily stopped by an injunc- • NOTB.—The securities, $1,475,956, owned as above, consist of miscellaneous tion obtained the Railway Co. This is the last of bonds, $114,1528; (ireen Street propertv, $i0,2 338 THE CHRONICLE. [Vol. LXXII. 1908 and $900,000 additional second mortgage 53 of 1913, rado and its large increase in the output of the precious making the total amount of first mortgage bonds listed to metals has attracted the attention of investors and capital- date $14,000,000 and of second mortgage bonds |6,000,000. ists, among them George J. Gould, who has purchased an Of the $80,000 first mortgage bonds just listed $75,000 important interest in the company, and who will, on Thurs- have been recently sold to pay for a second track and a sec- day, enter its directory for the purpose of participating in ond track bridge over Grand River at Cayuga. The pro- the management of the property and in the further de- ceeds of the $900,000 second mortgage bonds have been or velopment of Colorado, with which he has long been per- are to be expended for the construction of second track and sonally identified. The policy that has heretofore governed for other additions to the proparty of the company. —V. 71, the management will continue, not only in relation to the pub- p. 1267. lic and the State at large, but with all connecting lines with Canadian Northern Ry.—Lease of Northern Pacific Lines. which it has heretofore had commercial relations." —A press despatch fom Winnipeg reports the details of a On Thursday Mr. Gould was accordingly elected a director. contract signed with the company by Premier Roblin on The present directors of the Denver & Rio Grande are: behalf of the Provincial Government by which the latter George Coppell. Richard T. Wilsm, John Lowber Welsh of sub-leases to the Canadian Northern, with the right to pur- Philadelphia, Senator Edward O. Wolcott of Colorado, chase, 354 miles of Northern Pacific branches in Manitoba. Jacob H. Schiflf, William Mertens, Edward T, Jeffery, The dispatch says Arthur Coppell and J. Edward Simmons.—V. 72, p. 136. The Government has leased for 999 years from the Northern Pacific Detroit United Rj.— Sale of Control.—Kenrj A. Everett By. Co. its Manitoba branches at the following rental: First ten years, and E. W. Moore of Cleveland and their associates have pur- $225, $210,000 annually; seTOnii ten years. oOO; third ten years. $275.- chased the controlling interest in this property recently held 000; thereafter $'300,000. with the option of purchase at $7,000,000. This would make 4 per cent on a capitalization of $20,000 per mile. by R. T. Wilson & Co. and their friends. Mr. Moore is These lines are turned over to the Canadian No cthern, which agrees quoted as saying that about $5,000,000 was paid for 71.000 to complete its line to Port Arthur by next October, and will also cou- shares, including 20,000 shares acquired a short time before. struct a line from Sprague, on the Rainy River line, to Duluth, to en- ure a winter rail route for wheat. Henry A. Everett has been elected President and H. B. Van Cortland t of New York a director.—V. 72, p. 241, 183. Guaranty of Bonds.—The Provincial Government, it is further stated, undertakes: Great Northern TLj.—New Equipment.—The company has ordered from Haskell Barker Car Co. 3,600 cars (1) To guarantee bonds of the Ontario and Rainy River lines, prin- the & box cipal and interest, at 4 per cent, to the extent of $20,000 per mile for and 3,000 coal cars.—V. 72, p. 184. 290 miles, capital liability annual interest a of $5,8oO,000, with an Grand Trnnk Ry. New Lease.—The company confirms the charge of $232,000. (2) To permit an Increase of the bonds on Mani- toba lines from $8,000 to $10,000 per mile on all mileage where the report that it has leased the Cincinnati Saginaw & Mackinaw Government has already guaranteed $8,000. In the event of earning.s Ry. for a period of 99 years. The Toledo Saginaw & Mus- being insutttoient to pay operating expenses and bond Interest, the kegon was purchased by the Grand Trunk Railway some six Government, without any recourse against the company, will make good such deficiency. years ago, and is controlled absolutely byit.—V. 72, p. 241,44. As part of the agreement all local rates on the company's Hocking Talley Rj.—Listed. -The New York Stock Ex- lines in Manitoba and all through rates between Port Arthur change has listed ^719,000 additional preferred stock, making and Manitoba points, both on east and west- bound freight, the total amount listed to date $13,991,300 ; also $1,000,000 are to be fixed until 1930 by the Kings Bench Court of Mani- additional first consolidated mortgage 100 year 43^ per cent toba.—V. 71, p. 235. gold bonds of 1999, making the total amount listed to date $10,254,000. The additional preferred stock was issued to Chicago & Eastern Illinois B,B..—Listed.—The New York enable the Middle States Construction Co. to make advances Stock Exchange has listed $991,000 additional general con- to the Toledo Ohio Central Ry. Co. to procure equipment solidated and first mortgage 5 per cent bonds of 1937, making & and make additions and improvements to its propertv, the the total amount listed to date $12,936,000. The additional proceeds to be used exclusively for such purposes. Of the bonds were issued as follows : total stock of the Toledo & Ohio Central Ry. there remains New road Cypress to .Toppa, TIL. 16'07 miles at $18,000 per mile, running through PulasKl County and duly recorded to be acquired only $12,099 of pref. stock and $54,577 of com- In the same $289,000 mon stock. See V, 69, p. 1345; V. 71, p. 863. New equipment, cost — - 668,000 The $1,000,000 bonds just listed will be used exclusively Prior lien bonds retired—DanvlUe Creek first & Grape RR. for the following purposes: mortgage bonds, $22,000, leaving outstanding $97,000, Additions and betterments to property $135,000 and C. & E. I. RB. first mortgage extension bonds, $12,000. 34,000 Acquiring additional for which the company has —V. 72, p. 86. equipment contracted 615,OCO Chicago General Rj. -Bonds Sold at Auction.—At the For expenditures previously made for such purposes 250,000 Chicago Stock Exchange last week there were sold at auction —V. 72, p. 282, 87. to Edward L. Brewster & Co. $108,000 West & South Towns Illinois Central RR.—$8,000,000 Stock Pledged.—See Rail- Railway 6 per cent bonds at 60 and $358,000 Chicago General road Securities Co. below.— V. 72, p. 282, 241. Railway 5 per cent bonds at 30. —V. 71, p, 1219. Jamestown Chautauqua & Lake Erie Ry.— Consolidation Cincinnati Jaciison & Mackinaw Ej.—Securities Sold. — Bonds.—This company, incorporated in Sept., 1900, has At the adjourned sale on Wednesday the securities of the acquired over 75 per cent of the $250,000 bonds and over 90 successor companies were sold at auction for account of the per cent of the $475,000 stock of the Jamestown & Chau- reorganization committee for $1,043,140.—See V. 71, p. 1119. tauqua Ry., and the entire $260,000 stock of the Chautauqua V. 72, p. 241, 86. Steamboat Co., operating 11 steamboats on Chautauqua Lake. Cleveland & Chagrin Falls Electric Rj.—Mortgage.—The An extension under construction from Mayville to Westfield, April company has made a mortgage to the Dime Savings & Bank- 11 miles, is expected to be ready for operation about 15 ing Co., as trustee, to secure 5 per cent $500 bonds. next, and a mortgage has been made to the Continental Trust Co. of New York, as trustee, to secure $750,000 fifty year 4 Colnmhas Buckeye Lake & Newark Traction Co.— per cent gold bonds. Bertron & Storrs of this city are inter- Purchased. —This company, incorporated in October, 1899, to ested. Other facts follow: build an electric road from Columbus to Newark, O., a dis- stock authorized, $600,000, all of one kind and all outstanding; tance of 40 miles, it is said, has obtained the necessary fran- bonds outstanding, $600,000, maturing Jan. 1, 1951, interest payable chises and has graded 15 miles of its line. Tucker, Anthony J.^. Total mileage on completion of extension to be 41 miles, stand- none. The & Co., of Boston, have purchased the property and the work ard gauge. 70-lb. rails. Chautauqua Steamboat bonds, balance of the Jamestown & Chautauqua Ry. securities are expected of construction, they say, will be continued at once. to be acquired. The combined earnings of the properties for the year Stock, $1,000,000 authorized: issued. $100,000. Bonds ending uec. 31, 1900, were: Jamestown & Chautauqua Ry., gross, gross authorized, $1,000,000, 5 per cent gold, due Sept. 1940. $57,709; Chautauqua Steamboat Co., gross, $58,769; total 1, earnings. $116,478; combined net, $34,795; interest charges, $16,750; The Knickerbocker Trust Co, is mortgage trustee. Presi- taxes, $2,939; total charges, $19,689; balance, surplus, $15,106. dent and Treasurer, Wm. A. Tucker, 53 State Street, Boston, Jamestown & Chautauqua Ry.—Acquired.—See James- Mass.; Secretary, Frank W, Merrick.—V, 71, p. 602. town Chautauqua & Lake Erie Ry. —V. 68, p. 130. Colnmhns Ry. Ordinance Passed and Accepted. — (0.) Kansas City Southern Ry.—Mr, Oould Vice-President.— The City Council of Columbus on Feb. 4 by a vote of 12 to 7 George J. Gould, it is learned, is now Vice-President of the passed the Evans ordinance granting the company a new company.—V. 71, p. 963. franchise, providing for 5-cent cash fares, seven tickets for 25 cents with transfers until the annual gross receipts are Kingston & Pembroke Ry. Amalgamation.—See Ottawa 927. $1,750,000, and then eight tickets for 25 cents with transfers; Gatineau & Western Ry. below. —V. 68, p. all-night cars, with 10 cent cash fares and transfers for the Long Island RR.—Quarterly.—'E&Tninga for the quarter first five years, after which the fares are to be 5 cents with and the six months ending Dec. 31 were: transfers. The officers of the company state that they 3 moa. end. Gross Net Other Interest, Balance, will accept the ordinance as soon as they can lawfully do Dee. 31. Earnings. Earnings. Income, taxes, etc. sur. or def. 1900 $1,031,342 $150,0o9 $28,100 $357,023 def. 180,864 so that is when the ordinance has published — been ten days 1899 1,005,095 192.196 19,826 307,613 def. 95,590 and the Court, which issued the restraining order in the Ross 6 mos. case, shall give the necessary permission.—V. 71, p. 543. 1900 $2,658,480 $830,598 $109,251 $712,311 sur. 227,538 1899 2,600,637 833,059 107,301 653,468 sur. 286,892 Delaware & Hudson Co.—Rumored Lease.—The stock of —V. 71, p. 1012. this company advanced sharply yesterday, and it is currently Manhattan Ry.—Quarterly. —Earnings for the quarter and rumored the road is to be leased to the for New York Central the six months ending Dec. 31 were: a guaranty of dividends on the stock.-V. 72, p, 240, 241. 3 months Oross Net Other Interest, Balance, Denver & Rio Grande RR.—Mr. Gouli a Director—Presi- end. Dec. 31. earnings. earnings. income. taxes, etc. surplus. dent E. T. Jeffery on Tuesday made the following statement: 1900 $2,526,036 $1,185,339 $202,563 $749,857 $638,045 2,507,687 1,173,954 198,300 757,572 614,682 interest in 1899 "A controlling the property has not been bought 6 months— by any other railway company, nor has its independence as a 1900 $4,415,636 $1,838,229 $394,955 $1,376,781 $856,373 Colorado railway been in the slightest degree impaired by 1899 4,420,516 1,812,764 386,600 1,403,617 795,747 any recent changes that have taken place in the holdings of Dividends of 1 per cent call for $479,997 quarterly.— V. 72, dts eecurities. The great prosperity of the State of Colo- p. 283, 184. J — , Februaby 16, 1901, THE CHRONICLE 339 Maryland & Pennsylvania RR.— Conrfo/iViafion.—The Nassau Electric RR.— O^ciaZ Statement.—Oa asubsequent full shareholders of the ; Baltimore & Lehigh RR. on Tues- page will be toutd the very statement just made to the day approved the consolidation with the York Southern RR., Stock Exchange in connection with tbe listing on the Ex- New Securities.— The Maryland & Pennsylvania RR. Co, change of the consolidated mortgage guaranteed four per has the following capitalizatfon : cent bonds of lO.'Jl. The bonds were recently offered by the First mortgage 4% 50-year gold bonds (subject'to call at Guaranty Trust Co, and Messrs. Harvey Fisk & Sons,-V. 105 and Int.. at any mt. period, on 60 days notice) $2,700>O0O 72, p. 242. Of which to be Bold, the proceeds, with the proceeds of the income bonds, to be used to pay for the original New Orleans & Northwestern Ry.—So?(i.—This road, ex- l88ue of 8.5C0 shares of the stotk of the Baltimore A tending from Bastrop, La., to Natchez, Mies,, 102 miles, hag Lehlfch Ry. Co. ax $70 per share, and Itslfloatlng ;(lebt; been acquired, it is stated, by the Gould interests, and will $150,000 York Southern RR. Co. ."> per cent bonds at part of the St. Louis Iron Mountain Southern par ana Interest, and its floating debt; expenses of be made a & consolidation, commissions, etc 550,000 system, redncing materially the length of its line between Beseryed to proTlde, at or before maturity, for the re- St. Louis and New Orleans.—V. 67, p. 275. tirement of $249,950 York & Peach Bottom RR. Co. 5 per cent bonds 250,000 New York New Haven & Hartford RR.— Quarterly.— requirements of the oomp'y. Reserved in trust for future 1,900,000 Earnings for the quarter and the six months ending Dec. 31 Income gold bonds, 4 per cent cumulative (subject to were: call at 100 and interest at any interest period on 60 Interest, days notice) ; all to be sold, proceeds to be used as 3 mos. ending Gross Net Other Balance, above set forth 900,000 Dec. 31. Earnings. Earnings. Income. Taxes, etc. Surplus. Commonatock (l: $ $ % $ 3,600,000 10,193,467 3,075,088 249,861 2,020,459 l,30i,490 Of which to be exchanged for York Southern RR. Co. ICOO 10,615,624 3,612,336 243,726 1,991,698 stock, par for par 600,000 1899 1,864,364 To be distributed as a bonus to subscribers to the 6 monthi— 20,582,973 6.834,581 293,883 4,033 293 3,095,171 first mortgaj Surplus ' $5,521 Northern Pacific Rj.—Listei.—The New York Stock Ex- Officers. —OflBcers and directors of the new company are: change has listed the$9,215,000 St. Paul- Daluth Division mort- President, John Wilson Brown; Vice-President, W. W. Spence; Sec- gage 4 per cent gold bonds of 1996. The bonds cover, besides retary and Treasurer. John MoHenry. Directors: John Wilson Brown, the railroad of the former St. Paul & Daluth RR. Co., the W. W. Spence, George C. Jenkins, Alexander Brown. John W. Hall, land grant of that company, which was not covered by the Solomon Frank, John K. Cowen of Baltimore, H. E.Young of Han- over, Pa., and Henry C. Niles of York, Pa. old mortgages of that corporation. The statement to the Stock Exchange says: Metropolitau Street Ry.— ^war^frZi^.— Earnings for the The title to such lands was vested directly in the Northwestern Im- quarter six and the months ending Dec. 31 were: provement Oo,. which company issued therefor $4,000,000 of deben- 3 mos. end. Gross Net Other Interest, Balance tures to the Northern Pacific Railway Co. These debentures have Dec. 31. earnings, earnings. income. taxes, etc. surplus. been deposited with the Guaranty Trust Co., trustee under the St. 1900 $3,635,y39 $1,H3«,290 $1,'= 0,090 $1,138,467 $947,913 Paul-Duluth Division mortgage, as additional security for the 8t. Paul- 1899 3,565,682 1,807,661 194,400 1,090,545 911,516 Dulnth Division bonds, under an agreement by which aa the lands are 6 mos. sold the proceeds are to;be applied to the purchase of St. Paol-Duluth 1900 $7,485,293 $3,959,954 $229,335 $2,313,867 $1,875,442 Division bonds at a price not. exceeding 105 and accrued Interest, or 1899 7.231,628 3,707,936 272,168 2,216.202 1,763,901 if bonds eannot be purchased at that price, then to betterments or -V, 72, p. 283, 45. additions to the mortgaged premises. As the lands are sold and pro- ceeds applied as a corresponding amount of the deposited de- Metropolitan West Side Elevated TLj.—Dividend De above bentures is canceled— V. 72, p. 242, 184. creased, —The company has declared a semi-annual dividend of 1}4 per cent on its preferred stock, payable Feb. 28, to Northern Pacific Rj.—Lease of Manitoba Lines.—See stocknolders of record Feb. 18. In August last 3 per cent Canadian Northern Ry. above.—V. 72, p. 242, 184. was paid.—V. 72, p. 134. Ottawa Gatineau & Western Rj.—Proposed Amalgama- Missouri Kansas & Texas ILy.—Listed,—The New York tion. —A. B. McGovern of Ottawa is asking the Dominion Stock Exchange has listed $800,000 additional first mortgage Parliament to grant an act empowering the Ottawa & Qati- 50-year 5 per cent guaranteed gold bonds of the Missouri npau Ry. to change its name to the Ottawa Gatineau & Kansas & Texas Ry. Co. of Texas, making the total amount Western Ry. and to acquire or amalgamate with the Pontiac listed to date $3,885,000. These $200,000 bonds were issued Pacific Junction Ry., Hull Electric Ry., Ottawa & New on account of 10 miles of road completed on the extension York Ry., Ottawa Interprovincial Bridge Co., Ottawa Elec- which the company is building from San Marcos to San An- tric Ry. and the Kingston & Pembroke Ry.—"Railroad Ga- tonio, Texas, about 49 miles.—V. 71, p. 1121. zette." Missouri Pacifle Rj.—Listed.—The New York Stock Ex- Ottawa & New York Rj.—Amalgamation,—See Ottawa change has listed $2,636,000 additional first collateral mort- Gatineau & Western Ry. above. gage 5 per cent gold bonds of 1920, making the total amonnt Pennsylvania Company,— Bowds Offered.—Knhn, Loeb & listed to date $9,636,000. The bonds just listed have hereto- Co. will receive subscriptions at 101 and accrued interest fore been pledged by the company under its 5 per cent "gold for $10,000,000 of the company's guaranteed 8}^ per cent funding note trust" indenture, which has been satisfied and trust certificates. Series "B," principal and interest uncon- discharged, and afterwards under its "gold debenture bond" ditionally guaranteed by the Pennsylvania RR. Co. The indenture, but have now been released from the last-named bonds are secured by deposit of $10,000,000 par value of 7 trust by payment to the trustee of said indenture of a sum per cent guaranteed special stock of the Pittsburg Ft. of money equal to the withdrawal valuation of said bonds as Wayne & Chicago Railway Co., having a market value of fixed in said indenture, and have been sold by the company. almost double this amount. The subscription books will be Earnings.— For the 11 months ending Nov. 30: opened at 10 o'clo3k on Feb. 20, and close at 3 o'clock or siiasonui pacific ry. earlier on the same day. These are the bonds recently pur- 11 Gross yet Other Int., Taxes, Balance, chased by the firm above named. V. 73, p. 242. Mos. Earnings. Earnings. Income. Rentals, etc. Surpliis. — 1900 $14,497,077 $4.'.^01,k)00 $691,942 $.i,S32,l25 $1,061,716 Pennsylvania RR.—S^ocfc Bill Signed.—Oa Feb, 9 Gov. ST. LOUIS IRON MODNTAIN & SOUTHERN RY. Stone, of Pennsylvania, attached his signature to the meas- 1900. $13,117,853 $5,272,3.'S6 $373,812 '$3,965,629 $1,680,539 ure permitting the corporations of the State to increase their capital stock.— See V, 72, p. 283, 242. Inoludec, in addition to bond Interest and rent.ils: Interest and exchange, $14,149; sundry amounts paid, $127,721; discount and Peoria & Eastern Rj.-Listed.—The New York Stock Ex- premiums, $546,824.- V. 72, p. 283, 87. change has listed $981,5' Indiana Bloomington & Western Acquisition,— See New Orleans & Northwestern Ry. be- Ry. Co. first mortgage preferred 7 per cent bonds of 1900» low.—V, 72, p. 283, 87. extended to April 1, 1940, at 4 per cent.—V. 69, p. 492. — — —— — ——: 34li THE (IHRONICLE. [Vol. LXXII. Philadelphia & Erie UK.—Earnings.—The earniaga for Smos.CTid. Oro*s Net Other Interest, Balance, Dec. 31. earnings, earnings. income. taxes, etc. sur. or def, the year ecding Dec. 31 : were 1900 $551,735 $224,226 $5,894 $440,>*24 def. $210,704 Tear. Gross. Net. Otti. income. Inl.,taxes,elc. Surplus. 1899 485,366 178,252 y5,633 91,517 BUr. 182,368 1900 .. $>,824,626 $2,146,660 $6,682 $1,411,973 $741,3t>9 6 mos. 1899.... 5.348,029 1,72^,712 1.581 1,405.071 323,222 1900 $1,118,518 $490,266 $29,811 $381,648 def. $361,571 1899 I,03t5,079 408,714 10-s,849 183,022 sur. 334,541 From the put plus as above in 1900 $100,000 waa appro- -V.72, p. S'^. priated for the renewal f and and $500,000 for the extraordin- Toledo St. Louis Kansas City RR. New Certificates ary expenditure fund, leaving $141,369 transferred to account & Ready.—The Oicott reorganization committee is prepared to of piofit and loss.— V. 70, p. 532. delivt-r in exchange for tbe Central Trust Co. certificates for Bailroad Securities Qq.—38,000,000 Illinois Centnd Stock the preferred and common stock, on presentation thereof at in Trust. —Interests understood to be allied with the Chicago the office of the Central Trust Co., 54 Wall S reet, the & Alton, Kansas City Southern and Uaion Pacific have ia- voting trustee certificates for the preferred and common corporated this company with $2),000,Ol)0 of authorized capi- stocks of the Toledo St. Louis & Western RR. Co, in the tal stock, of which |7, 500,000 is 4 par cent cumulative pre- proportions mentioned in the plan dated June 12, 1900, viz. ferred. Of these authorized issues there are outstanding For each $100 of preferred stock (having paid assessment $2,000,000 preferred and 13,600,000 common. The company, of $20) $75 in new preferred and $20 in nesv common, and which is organized to acquire and hold the securities of any for $100 of common stock (having paid assessment of $12) railroad or railroads believed to be a good investment, has $25 in new preferred and $75 in new common. The new already purchased |8, 000,000 of Illinois Central stock. This securities have been listed on the New York Stock Exchange, stock has been pledged to secure a like amount of 3\{ P^r as below stated.- V. 73, p. 284, 88. -cent 50-year gold bonds dae Jan. 1, 1951, part of an author- Toledo St. Louis & Western Ry.—Listed. —The New York ized issue of bonds limited to $10,000,000. Stock Exchange has listed $9,00(t,o00 prior lien mortgage ^% Readiagr Cinni^any.-WUin ngton & Northern Ooll'tiral per cent gold bonds of 1935, $6,500,000 mortgage 50-year 4 Certificates.—Tae company has recently been placing private- per cent gold coupon bonds of 1950, $10,000,000 4 per cent ly at par and interest $l,300,OOJ of Wltnington & Northern non cumulative preferred stock voting trust certificates and collateral stock 4 per cent trust certificates, guaranteed by $9 995,000 common stock voting trust certificates. —V. 72, p. the Reading Company and issued by the Girard Trust Co. 243. against the deposit with it as trustee of practically the entire Union Pacific R. R. Option to Subscribe to New Bonds. — $1,500,000 capital stock of the W. & N., which was pur- As already announced, the directors and executive committee, chased by the Reading in ] 899 -1900 at §40 per $50 ehare. The have authorized the issue of $100,000,000 of "First Lien Con- certificates have no date of maturity, but are redeemable at vertible 4 per cent gold bonds," to be secured by a first mort- 105. The stock is guaranteed 3 per cent per annum by the gage upon unmortgaged railway belonging to the company Philadelphia & Reading Railway Co. under a 999 year lease; and by the pledge of securities owned by it and held in its the earnings are said to be largely in excess of that amount. treasury. These bonds will ba;Convertible, at the option of The trust certificates are $1,000 each and their interest is the holder, on, or at any time before, May Ist, 1906, into com- payable Q-M mon stock at par—that is, at the rate of ten shares of stock Collateral Trust 4s for Stock of Central RR. of New Jer- ior each bond. All or any of such bonds may be redeemed sey.—The collateral trust 4 per cents to be issued on account by the company at a premium of 2J^ per cent on any interest of the recent purchase at 160 of a maiority of the stock of day after the first day of May, 1908, upon notice published the Certral Railroad of New Jersey will be for the total au- in New York and London. In case part of the bonds are re- thorized sum of $45,000,000. The present issue will be $33,- deemed they shall be chosen by lot. The bonds will mature 000,000, and the remainder will be reserved to acquire, if at May 1st, 1911, and bear interest from May Ist, 1901, at the any time deemed advisable, the minority stock of the Central rate of 4 per cent per annum, payable semi-annually on the Company. The Pennsylvania Company for Insurances on Lives first days of May and November in each year. Both princi- and Q-rantiog Annuities as trustee will hold as security for pal and interest will be payable in gold and free of tax. the issue the following collateral : Central RR. of New For the purpose of providing for the payment for shares of Jersey §14,500,000 (cost $23,200,000) of the $>7,159,800 out- stock of the Southern Pacific Co. purchased, $40,000,000 of standing; Perkiomen stock, $1,495,000; Port Reading stock, these bonds are now offered for subscription, and holders of $440,000. The new 4 per cents are dated April 1,1901, and the common and preferred stock of record Feb. 23d may are due April 1. 1951 (interest A.&O.), but are subject to call subscribe therefor at par at the rate of one bond for every on April 1, 1906, or any interest date thereafter, at 105 and fifty shares of stock held by them. Subscriptions must interest, on six months' notice. They will be offered for sale be made on or before March 20 at the office of the company, at 923^ and interest, as already announced.—V. 72, p. 283, 242. No. 120 Broadway, The issue has been underwritten at par. Richmond Fredericksbnrg & Potomac UR.—Negotiations. See further particulars in advertisement on another page. V. 284, 243. —See Richmond & Washington Air Line Ry. below. It is 72, p. rumored that the roads concerned in the agreement for the United Railways & Electric Co. of Baltimore.—The joint use and ownership of the R. F. & P. are the Pennsyl- annual report for the year ended Dec. 31, 1900, it is stated, vania, Baltimore & Ohio, Atlantic Coast Line, Southern shows: Gross earnings, $4;431,743, an increase of $206,425; Railway, Seaboard Air Line and the Chesapeake & Ohio. operating expenses, fixed charges, dividend on the preferred V. 71, p. 1217. stock, interest on income bonds, taxes, etc , $4,342,000; bal- ance, surplus for year, $90,000.—V. 1050. Bichmond & Washington Air Line Vij. —Cancellation of 70, p, Charter.- A.i Richmond on Feb. 12 both branches of the Vir- Western Maryland RR.— 0#cr. —Mayor Hayes of Balti- ginia Legislature passed bills canceling the charter granted more is quoted as saying that the syndicate represented by last session to the Richmond & Washington Air Line. The Edward Lauterbach offered $5,500,000 for the city's holdings effect of this action, it is stated, will be to return to John in the road. The offer is under consideration. The Mayor is Skelton Williams, President of the Seaboard Air Line, his not prepared to say whether or not he favors accepting it. check and bond aggregating $125,000, and to withdraw the V. 73, p. 138. request for bids on the State's holdings in the Richmond Wilmington & Northern 'KR.—Stock in Trust.—^ee Read- Fredericksburg & Potomac RR. ing Co, above.—V. 70, p. 998. Mr. Williams, in a letter read before the House on Feb. 11, York Southern RR. Consolidation.—See Maryland «fc stated that his road and others connected with it were con- Pennsylvania RR. above.—V. 72, p. 284, 185. sidering a plan to acquire a controlling interest in the Rich- mond Fredericksburg & Potomac RR.—V. 70, p. 177, 329, 882, 481. INDUSTRIAL. GAS AND MISCELLANEOUS. St. Lonis Southwestern Ry.— 0#er.—The minority stock- Alabama Consolidated Coal & Iron Q,o.—Acquisitions.— holders who have been opposing the Gould administration it The company is reported to have purchased the properties of is stated have received an offer for their stock, but have not the Attalla Iron-Ore Co, for $120,000.— V. 72, p. 134. as yet accepted it.—V. 72, p. 88. American Agricultural Chemical Co.— Listed.— The New Seaboard Air Line Ry. Line to Washington—Negotia- York Stock Exchange has listed the $17,044,900 6 per cent tions.—^^e Richmond & Washington Air Line Ry. above. cumulative preferred stock and $16,533,000 common stock. The securities of the Seaboard Air Line have been ex V. 71, p. 600, tremely active in Baltimore this week at advancing prices, on American Coal 0,0.—Extra Dividend.—The company has rumors of impending developments of importance affecting declared a semi-annual dividend of 4 per cent and an extra the relation of the company to other properties.—V. 72, dividend of 1 per cent, payable March 1 to stockholders of p. 88. record Feb, 18. Seattle Electric Co.—Listed in Boston.—The Boston Stock American Iron & Steel Manufacturing Co.—Neiv Offlcers. Exchange has listed $4,142,000 first mortgage 5 per cent gold —Arthur Brock of Philadelphia has been succeeded aa Presi- bonds, due in 1930. The interest is payable in Boston and dent by J. H. Sternbergh of Reading, Horace Brock as Treas- the bonds are subject to call at a premium of 10 per cent. urer by H. M. M. Richards and W. W. Giobs as Secretary by The Boston Safe Deposit & Trust Co. is mortgage trustee.— CM. Hallman. The direct irs now are: V. 71, p. 1221. J. H. sternbergh of Reading, Arthur Brock of Philadelphia, Horace Brock of Lebanon, James Lord of Lebanon, H. IVI. Sternbergh and C. Southern Pacific 0,0.-Improvements, It is — stated authori- W. Wllhelm of Eeadine, H. H. Light, H. M. M. Richards, Thos. Evans tatively that instead of beginning dividends at present and C. M. Hallman of Lebanon, and W. H. Wallace of New York. the new interests in control intend to appropriate consider- Messrs. Evans, Wallace and Hallman succeeded John able sums from earnings for further improvements, heavier Brock, W, W. Gibbs and H, J. Hayden.—V. 71, p. 180. equipment, etc., with a view to reducing the cost of opera American Linseed Co.—Bonds. —The company has closed tion.— V. 72, p. 281, 284, 287. negotiations for the floating of $6,000,000 five-year gold notes Third Avenue RR.— Quarterly.—Earnings for the quarter at 5 per cent, through Blair & Co The Morton Trust Co. is and the six months ending Dec. 31 were: the trustee under the mortgage.—V. 71, p. 1121. — FflBRUAEY 16, 1901. J THE CHRONICLE. 3*i American Screw Co.—PZan Approved.—Tke shareholders stock has been deferred pending the completion of a plan for on Fe*^. Vi approved the comp*ny'8 plan for changing the reducing the capital stock. par value of the stock by substituting two and one-half The " Journal of Commerce & Commercial Bulletin" says: shares of stock of the par value of $100 each for every It is TinderBtood that the plan contemplates the cancellation of the existing share of |'250 par. The proposed conversion simply $1,0C 0,000 of prelerred and $1,000,000 of common htoek now lying unlssned in the treasury and the Issuance of $3,000,000 of increases the total nnmber of shares, bat does not increase) 50-jear 4 per cent oebentures to retire an equal amount of jtreferred stock, the the outstanding capital stock, v?hich remains at $3,250,000. holders of the remaining 81,000.000 of the preferred stock, it Is un- The authorized issue will remain at |G,2r)0,000. derstood, heiun unwilling to accept the new scheme. The debentures to have a sinking fnnd provision requiring thft purchase Eirnings.—The business of the year I'JOO, it is stated, real- are of 4 per of the issue annually. If thi; new plan is carried oui.the company ized cent net profits of more than $400,000, the present surplus will have a share capital of $5,000,000, of which $4,000,000 will he over all liabilities b^ing more than $750,000.— V. 7 J, p. 380. common stock, and a debenture issue as above stated of $3,000,000.— V. 70, p. 948. American Smelting & ReHning Co.—Directors R'sign — Lfs^^d.— H. H. Rogers and Leonard Lewisohn have resignel frotn the Crucible Steel Co. of America.- The New York Exchange has listed the $25 000,000 7 per cent board, because, it is understood, the compiny intends as a re- Stock cumu- $25,0C0,00J sult of the penimg consolidation with the Guggenh'^im pro- lative preferred stock and common stock.-V. 72, perties to use their facilities for handling its foreiga business p. 139. instead of, as at present, giving it to the United Metalp Selling Denver Gas & Electric Co.—Diindend Passed -Under Co., with which the aforesaid directors are identified (^ee date of Feb. 5 the company announces as follows the de- United Company V. 70, p. 284 )—V. 72, p. 185, 138. cision to pass the February dividend : Bay State Gas Co. of Delaware.—-S'uii.—Ia the United During the past year the city authorities of Denver granted a fran- an opposition electric-light company and entered Into States Circuit Court at Wilmington, Del., on Fdb. chise to a 13, the contract with said company for the lighting of the streets of the city. jury returned a verdict for the defendant in the suit of Although every effort has been and will continue to be put forth to Samuel L. Kent, of Philadelphia, against the company, to defeat what our counsel regards as an illegal contract, we neverthe- recover $1,800,000 for alleged violation of contract. less stand confronted with the possibility that the courts may ulti- —V. 72, p. mately decide the contract between the city and the opposition com- 243, 285. pany to be valid and binding. In this latter event the Denver Gas & prepared to meet a long and bitter Carnegie Co.—Negotiations. —Present indications point Electric Co. must bo contest for supremacy in the field of commercial and dome atlo electric lighting. to the probable organization of a new company with large It has therefore been thought best to pass the semi-annual dividend capital to purchase the properties or a controlling interest in for February, in order that the company mlgtit be in a stronger posi- the stock of practically all the leading steel concerns of the tion financially to meet the competiiion of tne opposition company. Central West. The oflScers of the following companies are The claim that the contract above mentioned is illegal is reported to have submitted to J. P. Morgan detailed fiaancial based on a provision in the city charter forbidding a con- statements which may form the basis for their participa- tract for city lighting for a longer pariod than one year.—V. tion in the new company, if terms are finally agreed upon : 70, p. 330. CAPITALIZATION OF COMPANIES KEPOETED AS INCLUDED IN Development Co. of Cnhi.—Stock Offered.—J. M, Ceballos NEGOTIATIONS [OOOS Omitted]. & Co. of this city are oifering at par $250,000 of this company's Bonds. Pfd. st'k. Oom. sl'k. Total. $1,000,000 capital stock. August Heckscher is President. Carnegie Co $160,000 $156,800 $316,800 Amerioan Steel & Wire 40,000 50,000 90,000 Dominion Iron & Steel Co. In Operation. —The first Federal Steel Co 26,806 53,260 46,484 126,550 National Tube Co 40,000 40,000 80,000 blast furnace was started on Feb. 2. It is expected that the American Bridge Co 30,f>28 30.528 61,056 full battery will be in operation within two months with a National Steel 2,811 27.000 32.000 61,811 capacity of 1,000 tons of pig iron per day.—V. 72, p. 139.) American Steel Hoop 14.000 19,000 33,000 American Tin Plate 195 18,325 28,000 46,520 East Liverpool Bridge Co.—Receiver. —At Parkersburg, American Sheet Steel 26,000 26,000 52,000 Va., on Feb. 2, upon application of C. Jutte and the Lake Saperlor Con. Iron 28,722 28,722 W. W. Union Trust Co. of Pittsburg, the United States Court ap- Total $189,812 $249,113 $157,534 $896,459 pointed the Citizens' Guaranty & Trust Co. of Parkersburg The "Iron Age" says : "It is understood that the only im- receiver of this bridge company. Foreclosure is pending portant single cash item is between $20,000,000 and $25,000,- under a mortgage dated Jan. 15. 1898, securing $130,000 first OUO in cash which Mr. Carnegie is to receive as a part pay- mortgage bonds, and one dated Feb. 15, 1896, securing $70,000 ment for his stock interest in the Carnegie Steel Co. The second mortgage bonds. The bridge and approaches extend balance is to be paid to him in the form of 5 per cent general from East Liverpool, Ohio, to Chester, W. Va. mortgage bonds at the rate of $1,500 for each in $1,000 stock. Edison Electric Illaminating Co. of Boston.—JVew Stock. It is understood that the minority holders of the Carnegie —The directors have voted, in order to pay the floating debt Steel Co. have not yet been arranged with, but the report is and to refund a mortgage on the plant, to increase the capi- current that they are to receive 150 per cent of new pre- tal stock from $4,320,000 to about $5,000,000.—V. 72, p. 188. ferred stock and 150 of new common stock. So far as the other companies are concerned, the proposition is largely a Hampton Roads Hotel Co.—-SoZd.—This company's prop- blind pool."—V. 72, p. 285, 243. erty was sold under foreclosure on Feb. 3 and purchased for Central Fireworks Co.—Annual Statement.—At the recent $300,000 by the reorganization committee. The successor will annual meeting a report was presented for the year 1900, company be the Old Point Comfort Improvement Co., showing a considerable increase in both gross and net in- which see below.—V. 72, p. 186. come compared with 1899. The surplus profits at the end Hempstead (N. Y.) Gas & Electric Light Co.—Mortgage. of the late year, it is stated, were $317,011, from which were —The company has filed a mortgage securing $150,000 gold paid dividends at the rate of 7 per cent, or $88,704, on the bonds due Feb. 1, 1931, or at the option of the company any $1,267,200 of preferred stock and of 2 per cent, or $28,123, on time after ten years from the date of the mortgage. Edward the $1,406,150 common stock, leaving a balance of $200,184. W. Mealey is President and Henry Steck, Secretary. The companies controlled are said to be the following: Hudson River Bell Telephone Co.—Increase Stock.— Oonsolidated Fireworks Co. of America, DetwlUer & Street Flre- of 'WorkB Manufacturing Co.. A. L. Due Fireworks Co.. St. Loula Fire The shareholders will vote March 7 on a proposed increase in works Co.. Pain's Fireworks Co. and Scharfenburg Fireworks Manu- the capital stock from $3,000,000 to $4,000,000, to provide for facturing Co. construction and improvements—present and future. —V. 72, Charles G. Street is President.—V. 71, p. 184. p. 186. Chicago Jnnction Railways & Union Stock Yards Co.— Mount Vernon-Woodberry Cotton Dnck Co.—Dividend- Listed in Boston—The Boston Stock Exchange has listed the Earnings. —On Wednesday a dividend of 1 per cent was de- f4,000,000 40 year 4 per cent mortgage and collateral trust clared, making 3 per cent for the fiscal year ended Dec. 31, refunding bonds, issued for refunding, etc. 1900. The statement for the year, it is stated, shows : Net Report.—The annual report for the calendar year 1900 earnings, $1,113,000; 'fixed charges, $350,000; interest on the shows an increase of $85,826 in gross revenue and a surplus income bonds, $300,000 ; surplus, applicable to dividends, for the year after payment of;dividends of $152,863, contrast- $463,000. Three per cent on the $9,500,000 capital stock calls ing with $55,667 in 1899. The total receipts of all classes of for $285,000. The company, it is said, will shortly operate live stock during the year very closely approached 15.000,000 under its new agency agreements, which after March 1 will •head, their money value approximating $270,000,000. This result in important economies.—V. 71, p. 845. is the largest single year's receipts ever realized. -V. 71, p. 1219, National Asphalt Co.—Oncers.—The officers and direc- tors are announced as follows : Colorado (Bell) Telephone Co.—Increase Stock.—The of Officers.— General Greene, President; John Mack, Vice-President; company, it is understooa, is increasing its capital stock from and A^rthur Sewell, Secretary and Treasurer. $1,800,000 to $2,400,000. -V. 70, p 1197. Directors.— F. V. Greene, Avery D. Andrews, August Belmont, John Columbus & Hocking Mack. Joseph Mack, Robert H. Foerderer, P. A. B. Widener. W. L. Coal & Iron Co.—Increase of S^ocA:. Elklns, George B. Widener, George L. Elklns, W. R. Worthandlke. —The shareholders will vote March 11 upon increasing the Charles B. Alexander and Ellis Wainwrlght, of St. Louis.—V. 72. common stock from $4,700,000 to $7,000,000 and upon the re- p. 286, 244. tirement of the $333,499 preferred stock and the issue in New York & Qaeens Electric Light & Power ( o.— -4c- place thereof of ordinary common stock.—V. 72, p. 243. quisition, —It is announced that Messrs. Wilson & Stephens Colnmba8(0.)Wa8 Light & Heating Co.—Dividends on have bought the Long Island Gas Electric & Water the Sabnrban CommonStock.—The coaxp&ny has declared a dividend of 3 Co., the Long Island lUumiuating Co. ani Jamaica and Hemp- per cent on common stock payable March 1 to holders of Electric Co., all operating in and arouni record stead. It is beli-^ved that these properties will be consoli- Feb. 15, the same amount having been paid Feb. 1, dated or with the New York^fe 1901. In 1900 2 per cent was paid Feb. 1 and 214 per cent closely affiliated in some way Queens —\. 71, March 15. -V. 68, p. 186. Qaefns Co., now covering the Borough of Consolidated Rubber Tire Co.—Dividend Deferred-Re- p. 185. duction of Capital Stock.—The dividend on the preferred H^For otber IiiTestiuent !Vew» •©•Face 343. : : — 342 THE CHRONICLE. fVoL. LXill. Ijcjrxrrts and ^otmntnts. THE NASSAU ELECTRIC RAILROAD COMPANY. (BROOKLYN HEIGHTS ER. CO., LESSEE.) OFFICIAL STATEMENT TO THE NEW YORK STOCK EXCHANGE IN CONNECTION WITH THE LISTING OF THE CONSOLIDATED MORTGAGE GUARANTEED FOUR PER CENT GOLD BONDS. Brooklyn, N. Y., February 5, 190L a new Lease of said property to the Brooklyn Heights Rail- The Nassau Electric Railroad Company hereby makes ap- road Company was entered into for 999 years. Under the plication to have placed upon the list of the New York Stock terms of said lease the Brooklyn Heights Railroad Company Exchange $15,000,000 Consolidated Mortgage Four per Cent guarantepd the prompt payment of the jjrincipal and in- Gold Bonds, numbered 1 to 15,000 inclusive, each of the par terest of the bonded indebtedness secured by Mortgage on value of $1,000. These bonds are secured by a Mortgage or the property leased, the payment of all taxes and operating Deed of Trust, constituting a First Lien upon all the pro- expenses, and agrees as additional rental to pay over to the perty and franchises of the Company, including atter- Nassau Company ail the net earnings of said leased property, acquired property except as hereinafter stated, dated June said net earnings being guaranteed by the lessee Company 30, 1898, to the Guaranty Trust Company of New York as to be not less than Four per Cent per annum on the $6,500,- Trustee. The bonds are in coupon form, with privilege of 000 par value of the Lessor's Cumulative Preferred Stock registering the principal, and are payable January 1, 1951. outstanding. All the common Stock of the Nassau Electric The interest is payable January 1 and July 1 in each year, at Railroad Company and all, except $448,000, of the Preferred the rate of Four per Centum per annum. The principal and Stock are owned by the Brooklyn Rapid Transit Company, interest are payable in gold coin, at the office of the Com- The said Mortgage of $15,000,000 is an absolutely First Lien pany or its Financial Agency in the City of New York, on the following property, except as otherwise stated: which for the payment of interest is at present the Colonial Miles (single track) — Trust Company of New York. The bonds are not subject to 66*45 overhead electric railroad, Nassau Electric Railroad Com- earlier redemption by a Sinking Fund or otherwise. No pany, subject to $660,000 First Mortgage Five Per Cent Bonds outstanding. provision has been made for the registration of these bonds 38*66 overhead electric railroad, former Atlantic Avenue Railroad elsewhere than with the Trustee under the Mortgage. Company, subject to $3,193,000 Five per Cent Atlantic The Company has no Car Trusts. Avenue Railroad Bonds outstanding. 10*92 overhead electric railroad, former Brooklyn Bath & West End Of the $15,000,000 par value total authorized issue of bonds Railroad Company, subject to $673,000 Five per Cent there are issued and outstanding at the present time Brooklyn Bath & West End Railroad Bonds outstanding. $10,474,000 as follows 7*18 overhead electric railroad, former United Railroad Company, free and clear. Issued for retirement and cancellation of underlying *6*32 overhead electric railroad. Coney Island & Gravesend Rail- bonds of the Atlantic Avenue Railroad Company, Brook- way Company, free and clear. lyn Bath & West End Railroad Company and the Nas- * 13*85 overhead electric railroad. Sea Beach Railway Company sau Electric Railroad Company, as provided by Article (with private right of way between Bay Ridge and Coney III of the Mortgage $6,474,000 Island), subject to $650,000 Four per Cent Bonds out- Issued tor the acquisition of the Capital Stoofe of the At- standing. lantic Avenue Railroad Company, the Brooklyn Bath 143*38 miles, total mileage. & West End Railroad Company and United Railroad Company, and for other consolidation purposes, as pro- * Lien secured by ownership of entire Capital Stock, as above stated, and de- vided by Article I of the Mortgage 2,500,000 posited with Trustee of Mortgage. Issued for the acquisition of the Sea Beach February 16, 1901.] THE CHRONICLK 348 Of the above net earnings of $4,333,968 69, it Is eBtlm»ted that the Natural Pood Co. of Niagara Falls.—aforfgragrg.—This Nassau fiystem contributed at least $935,000. showing a surplus of company has made a mortgage to the Colonial Trust Co, of about $263,740 over and above all Its fixed charges. New York, as trustee, to secure $1,250,000 of 20-year 5 per of the Balance Sheet of the Nassau The following is a copy cent bonds.—V. 72, p. 91. Electric Railroad Company for November 30, 1900 : North American Go.— Listed.—The New York Stock Ex- Cost of road and equipment $30,116,41012 change has listed the $11,936,700 new capital stock (reduced Treasury bonds 27,000 00 from $39,789,200). The dealings in the old stock will be con- 52,904 38 Accounts receivable tinued for a time, but not later than Feb. 28, 1901. See bal- Accrued rental, Brooklyn Heights RR. Co 173,333 33 Open accounts 286,110 00 ance sheet on page 337.—V. 72, p. 187. Cash on hand l,5H3 47 North Jersey Gas Co. of Paterson.- ilfo/fgorrye.—This com- Total $30,657,34130 pany has tiled a mortgage for $1,000,000 to Tbe Trust Com- LiabUiiies— pany of New York as trustee.—V. 72, p. 286, 187. Capital Stock, common $8,500,000 00 preferred 6,500,000 00 Point Comfort Improvement Co.—Reorganized Com- 15,000,000 00 Old Funded debt was formed Feb. 5 under the laws Audited vouchers 53,i:i2 15 pany. —This corporation Accounts payable 32,272 60 of Virginia to acquire, pursuant to the foreclosure sale, the Real estate mortgages 198,850 00 property of the Hampton Roads Hotel Co. The authorized Open accounts 49.753 22 capitalization is as follows: First mortgage 25 year A% per Profit and loss, surplus...^ 323,333 33 sinking fund gold bonds, $300,000; second mortgage 25 year Total $30,657,341 30 6 per cent income bonds, $325,030; capital stock, $150,000. The Board of Directors of the Nassau Electric Railroad Of the first mortgage bonds $150,000 will be reserved only for Company is as follows: A. N. Brady, E. H, Harriman, A.. bitterments or for the acquisition of other property and R. Flower, John E. B»rne, Hugh J. Grant, C. L. Rossiter, $150,000 will be used in paying off liens, to make certain im- T. S. Williams, N. F. Brady, J. D. Donald. provements, and for repairs, reorganization expenses and The Officers of the Company are: A. N. Brady, Chairman working capital. Of the second mortgage income bonds of Board; C. L. Rossiter, President; Hugh J. Grant, Vice- $25,003 will be used for the purposes of the committee and President; T. S. Williams, Vice-President; C. D. Meneely, $300,000, together with $450,0C0 capital stock, will be issued Secretary and Treasurer. to the depositing bondholders, who will receive for each Herewith are submitted: $1,000 in bonds deposited $400 in second mortgage income bonds and $600 in capital stock. The Knickerbocker Trust Six copies of this application ; six copies of the mortgage, one of which has the Certificate of Record indorsed thereon and certified by Co. was depositary under the plan. The officers are: the to be a true copy; Trustee's Certificate of bonds retired ; a Trustee Samuel R. Lawrence, New York, President; Henry M. Haviland, sample of the Bond anpUoatlon for the listing of which is hereby John B. Summerfleld, Brooklyn, Treasurer; acknowledging Brooklyn, Vice-President; made; Certificate from the Trustee acceptance of the and Armitage Mathews, New York, Secretary. trust and giving the numbers and amounts of the bonds executed in accordance with the terms of the Mortgage; Certificate from Civil See Hampton Roads Hotel Co. above.—V. 72, p. 186, 90. Engineer stating the actual physical condition of the property at the This, present time ; Certificate of Counsel as to the legality of the Mort- Pacific Steel Co. Incorporated.— company, with gage . Map of the various routes. office in the Corporation Trust Co. Building, Jersey City, Request is made for the immediate listing of the $10,474,- N. J., was incorporated recently in New Jersey. Author- 000 bonds outstanding, with the privilege of adding addi- ized capital stock, $1,000,000. The incorporators are.repre- tional bonds to the full authorized amount, namely $15,000,- sentatives of the Corporation Trust Co. 000, as the same are issued from time to time in pursuance People's Gas Light & Coke Co. of Cliicago.— ZVeto Presi- with the terms of the Mortgage, upon satisfactory evidence dent.—George O. Knapp of Chicago has been elected Presi- to be submitted to the Committee of said issue, and of the dent in place of C. K. G. Billings. The annual report is retirement and cancellation of the bonds for which they are given on page 337.—V. 72, p. 91. substituted. Respectfully, Pittsburg Coal Co. Annual Report.~The first annual THE NASSAU ELECTRIC RAILROAD CO., report covering the operations for the sixteen months ended By T. S. Williams, Vice-President. Dec. 31 contains the following statement of profit and loss: The Committee on Stock Lists recommended that the Profits after expenses, bad debts, etc $5,480,690 Reserve funds ($826,915 to acquire new coal lands and above-described $10,474,000 Consolidated Mortgage Guaran- $411,686 for depreciation; 1,238,600 teed Four per Cent Gold Coupon Bonds of 1951, for $1,000 each, Nos. 1 to 10,474 inclusive, be admitted to the list. Net profits $4,242,090 the preferred stock 2,074,709 Adopted by the Ooverning Committee, February 13, 1901. Dividend, 7 percent on Undivided profits (appropriated for preferred stock dividends and working capital) $2,167,381 Life —The Equitable Assurance Society has issued its —V. 71, p. 713. forty-first annual report, exhibiting the condition of its $5,000,000 Notes Offered.—BlaXr business on December 31, 1900. The statement shows, among Pressed Steel Car Qo.— & Ickelheimer Co. are offering by ad- other things, new business written during the year, $207,- Co. and Heidelbach, & this first 086,243, an increase over 1899 of $3,784,411. while the ex- vertisement on another page company's $5,000,000 5 per cent notes, due yearly from Feb. 1, penses in 1900 were $136,377 less than for 1899 The amount mortgage $500,000 1902 inclusive, subject to call at par and interest of surplus earned was $8,501,332, which, after deducting to 1911, but notice. Subject to a $3,481,640 paid in dividends to policy holders, increased the at any interest period on six weeks' of the plants for $235,000, total surplus of the society to over $66,000,000. The com purchase-money mortgage on one secured by a first pany's gross assets amount to $304,598,063 (increase for the due 1909 at 4 per cent, these notes are Trust Co., trustee, covering all the twelve months $24,406,776), the total income for the year mortgage to the Morton plant appurtenances owned or hereafter acquired, was $58,007,130 (increase $4,128,930), the payments to policy and now covenants holders, exclusive of the dividends mentioned above, aggre- and all U. S. patents, good-will, etc. The company that it will all times keep on hand cash and gated $25,965,999 (increase $1,858,457), and the total assur- at have and quick assets equal at least to the face value of the outstand- ance in force at the end of the year was $1,116,875,047, an ing all of the increase of $62,458,625. notes and other obligations company. The company thus secures extra working capital with a —Corporations desiring bonds of suretyship for their officers maximum interest charge of $250,000 and decreasing $25,000 or employes are referred to the twenty- eighth annual state- each year. Interest payments for borrowed money last year ment of the Guarantee Company of North America, pub- consumed $215,821, which was charged to operating ex- lished among our advertisements today. This company, panses. A circular says in substance: "the original company in America," confines its business At the time of Incorporation the company had a cash working cap- strictly to issuing this class of bonds, and it has accumu- ital of onlv $1,500,000 and was doing a gross business of but $1,000,- lated for its shareholders a surplus of over 190 per cent from 000 a month. By reason of the great demand for its product it was deemed wise to double its caoaeity and Instal another this business more than alone, and not in any way by contributions plant for underframe, wooden-topped ;ars. from the construction of steel them or premium on new issues of stock. The re- The total profits of the company since incorooration are $4,312,284 ; sources for security of the insured amount to over a million out of these $2,625,000 has been paid in dividends. For the McKees Rocks plant paid and $555,702 for other property and four hundred and nine thousand dollars. $1,581,580 was This has somewhat encroached upon cash working capital. Owing to the between $4,000,000 and —Messrs. Pfaelzer. Walker & Co. of Boston,- New York larger business, it is necessary to carrv $5,000,000 material on hand, and for this" purpose the comiiany has and Philadelphia and the Third National Bank of Boston are been an extensive borrower. offering a block of Western Pennsylvania New York & RR. The balance sheet contained in the circular is given on first mortgage 5 per cent gold bonds,due in 1937, to yield page 337.— V. 72, p. 286, 187. about i% per cent. In connection with this offering they have issued a circular with map attached showing how the Telephone, Telegrapli & Cable Co. of America.— Director*. Pennsylvania Railroad system has now secured through lines —At the annual meeting on the 12th mst., the following between Pittsburg and Buffalo, and between New York, directors were elected for the ensuing year: Philadelphia and Buffalo. Joseph B. McCall, Frank M. Riter, Randal Morgan, John Lowber Welsh, John D. Crlmmlns, Elverton R. Cbapman. Francis M. Jencka, —F. J. Lisman & Co., in addition their weeklj- adver- Charles \V. E. Gawtrv, George Crocker, Samuel to Morse, Harrison Hawk- tisement of unlisted railroad bonds, offer to deal in several Thomas. Cakes Ames, Frank Tllford, Daniel O'Dav. Georire F. ins. Henry R. Wilson, Latta. John C. BaUitt. Jeremiah J. issues of gas and other deal- William J. miscellaneous securities. The Sullivan, Morgan Willoox Ayres, George W. Elkins. ings in these latter bonds are in charge of A, A. Lieman, Stock to be Full Paid.—The stockholders at the annual who recently became a member of the firm. meeting also adopted a resolution aitthorizing the directors —Scott & Stringfellow of Richmond, Va., are distributing to take immediate steps to make the stock full paid upon the 15 an interesting circular regarding the Chesapeake & Ohio payment of all assessments thus far called, amounting to f Railway Co. per share.—V. 72, p. 187, 93. : ——. . 344 TBK CHRONICLE. [Vol. LXXII. COTTON. Friday Night, February 15, 1901. Thk Movement of the Chop, as Indicated by our telegrams COMMERCIAL EPITOME. from the South to-night, is given below, For the week ending this evening the total receipts have reached 125,640 bales, Friday Night, Feb, 15, 1901. against 144,435 bales last week and 191,881 bales the previous Decidedly wintry weather has been experienced the past week, making the total receipts since the Ist of Sept., 1900, week over a considerable area of the country. Locally, har- 5,640,740 bales, against 5,168,639 bales for the same period of 1899-00. showing an increase since Sep.l , 1900, of 473.101 bales. bor navigation has been seriooHly handicapped by an ice-jam, which has interfered with the handling of merchandise, and BeeeiptM at— Sat. Mon. Tue$. Wed. Titurs. Fri. Total, also has interrupted passenger traffic. Reports as to the ac- aalveston 3,735 4,820 10,287 7,504 4,513 4,889 35,748 tual condition of business have continued to show more or Sab. Pass, &o. 481 481 less irregularity. In some instances the movement of mer- New Orleans. . 6,825 8,594 7,836 5,060 9,431 6,443 44,189 Mobile 83 151 29 273 7 72 615 chandise and the prices realized have been noted as fairly Pensaoola, &o. 5,876 5,876 satisfactory, while in others there has been more or less Savannab 2,981 4,725 3,073 3,361 2,184 1.930 18,254 complaining of the dulness of trade. The somewhat unsat- Bmasw'k,&c. 1,691 1,694 isfactory condition of the cotton goods trade has had a Oharleston 139 140 123 52 161 160 775 Pt. Royal,&o. 12 12 weakening influence upon values for raw cotton, despite a Wilmington.... 356 509 548 224 136 523 2,296 decreasing crop movement. Wash'ton.&o. 15 15 Lard on the epot has continued to meet with a slow sale. Norfolk 528 696 792 600 1,510 986 5,112 Early in the week prices advanced, but the improvement was N'p't News, 40. 579 579 not maintained, closing at 7 80c. for prime Western and New York 905 946 1,173 500 973 4,497 Boston...... 183 525 569 707 909 911 3,804 7'35c. for prime City. Refined lard has been firmer, but the Baltimore 1,334 1,334 close was quiet at 7'90c. for refined for the Continent. Specu- PUladel'a, &o.. 250 109 359 lation in the market for contracts has been quiet, and early Tot. this week 15,986 21,106 23,257 19,063 19,351 26,878 125,640 in the week prices advanced, following the firm market for The following shows the week's total receipts, the total since hogs. The close was quiet. Sept, 1,1900, and the stock to-night, compared with last year. DAILT 0LO8ING FBIOES OF LASD FTTTO&E8. Sat. JHon. Tuet. Wed. TKuri, Fri. 1900-1901. 1899-1900. Stock. February 775 780 Holiday. 7-80 7'85 7*77 Receipts to TAii Since Sep. This Since Sep Feb. 15. 1901. 1900. Pork has been firm but quiet at $13 75@14 50 for mess, week. 1, 1900. week. 1, 1899. |15@16 for family and |14@17 for short clear. Cut meats Glalveston... 35,748 1,554,267 43,857 1,498,829 187,513 207,579 have had a moderate sale at firm prices, closing at 6c. for 8ab.P.,&o. 481 33,379 137 68,337 a ...,„ pickled shoulders, 9@9i^c. for pickled bans and 1^s@8}4o. Sevf Orleans 44.189 1,852,347 60,160 1,401,354 375.462 429,611 for pickled bellies, 14@10 lbs. average. Beef has had a lim- MobUe 615 104,985 5,173 165,308 30,380 31,458 P'saoola,&c. 5,876 110,431 4,938 110,854 •••.•• ited sale at unchanged values, closing at |8@8 50 for mess, Savannah... 18,254 834,913 40.008 858,482 111,965 150,738 for packet, for $9@10 $10@11 family and $14@15 50 for extra Br'wlok,&o. 1,694 80,882 3,963 85,904 4,105 7,311 India mess in tcs. Tallow has been dull and easier, weak- Charleston.. 776 197,937 8,519 210,920 8.853 31,628 ening to 4^c. Stearines have been dull, closing at 8c. for P.Royal.&o. 12 734 2 1,214 • ><»•* Wilmington. 2,296 228,114 6.090 241,648 7,481 21,913 lard stearine and TJ^c. for oleo stearine. Cotton seed oil has Wanh'n, Ac. 15 622 8 748 ...» continued to sag, closing at 293^@30c. for prime yellow. BTorfolk 5,112 307,661 13,220 314,987 25,446 46,204 Butter has been in smaller supply and firmer, closing at 16@ N'portN.,&o 579 31,055 1,202 22,826 898 7,449 223^0. for creamery. Cheese has had a fair sale at full val- New York.. 4,497 84,780 2,812 25,225 147,394 122,163 ues, closing at 93^@12c. for State factory, full cream. Fresh Boston 3,804 157,943 2,871 62,513 68,000 40,000 Baltimore . 1,334 45,601 986 65,746 10,203 15,557 eergs have been in fair supply, closing at 19i^@193>^c. for PhUadel.&c. 359 15,189 628 33,744 3,464 9.384 choice Western. 194,579 5,168,639 981,164 1,120,983 Brazil grades of coffee have been quiet. Despite, however, Totals 126,640 5,640,740 an unsatisfactory condition of trade, a continued full crop In order that oomparison may be made with other years, movement, and large supplies, present and prospective, there we give below the totals at leading ports for six seasons. has been no pronounced pressure to sell, due to the fact that Receipts at— 1900. 1899. 1898. 1897. 1896. prices ruling are on a low basis, and also to a hardening ten- 1901. dency shown to Brazilian sterling exchange. The close was aalves'n,&c. 36,235 43,994 23,064 36,168 20,881 19,524 steady at 7i^c. for Rio No. 7. West India growths have been New Orleans 44,189 60,160 20,993 69,743 33,758 41,158 dull, closing at 8^@9c. for good Cacuta. East India MobUe 615 6,173 2,338 5,263 4,213 4,244 growths have been changes. without Speculation in the Savannah... 18,254 40,008 7,928 21.177 7,952 18,750 market for contracts has been dull, many operators holding Ohas'ton, February 16, 1901. THE CHRONICLE. 845 In addition to above exports, our telegrams' to-night alto ITdtures.—Highest, lowest and closing prlcef at New York. give us the following amounts of ootton on shipboard, net »- =- o z c 2? (» I*- S ". cleared, at the ports named. We add similar figures fcr !>-GW i>.Gs;K New York, which are prepared for our special use by Messrt „ B Ob B - B Til eg B* Produce Exchange Building. B o Lambert & Barrows, B3^(»gB»»d(>gB(>a SnJ GdaSBoSBo.*^bSKbSSB^ « I B a > 9i • cut lOQ. SB 'n • • • ; : X ON SHIPBOARD, NOT OLBABBD FOB— I * « I I I 4 t Leaving I I Feb. 15 at- Qrtat Oer- Other Ooatt- $toek. Fr'nee Total. Britain many. For'gn wise. CD CD QCOO 0000 (SO «c WO 00 «0«S CC«D I ©6 WCO CD or New Orleans. 2,221 19,017 1,015 14,833 416 37,502 337,960 CO va O-CO 00 .-1 toe •40) I Galveston .... 23.343 17,883 11,524 6,359 6,767 64,876 122,637 a I 9 to Id I d Savannah 2,900 11,542 11,500 25,942 86 023 QCQO 00 00 coo — ""50 ' 00 00 00 .•iO 3,803 Charleston... "800 50® M — c>:co ocoo to to M uto o;to ccoo Mobile 6>o6 •>• 5,300 2.5,080 OS -4W CO« oats w 00 wco Norfolk 8.006 8,000 17,446 • <0-0 aOGD 00 op QCOO 00 '£0 New Yorfe.... "ioo 100 200 147,194 00 00 00 I -J --• 6,oo6 3,000 1,000 10,000 84,151 21 CO .-i »^i— ksto -to toto cow T^^ Other ports 00 too: 03 <1 QDOo o:~J O"^ -.» 00 VV CO « t d I 9 Total 1901.. 34,764 36,900 32,181 33,792 14,233 151,870 829,294 >j>j 0009 0000 aoo 00 00 00 OCD 00 00 >-•>-• Total 1900.. 82,934 3,817 121,277 27,926 235,954 885,029 1 Si 00 CO tsw •JOD MtO tou to to to 09 CO lU 0-»l oso 00: IOO CO", ca c;* fO Total 1899.- 39.148 14,315 83,733 38,934 176,130 710,517 o Speculation in cotton for future delivery has been slightly more active, but it has been to a considerable extent the re- •AvanoH' sult of selling by tired longs to liquidate their accounts, prices having declined. The unfavorable trade reports from the Continent and domestic spinners have continued to have -3^ ttOO OCOO 00 00 00 00 oo 00 I I — M latterly there oboD 06 osci, CO CO CO CO their influence against the market, and have MM ifkCjl coa 00 C5-J • I I 9 I a) I d been some reports received to the effect that Manchester d d m8 business has shown something of a falling off. Owing to the »^1<, ' ber and December, which were unchanged. Cotton on the o ' 00 00 to •a OM Cm CM Cm Cm OM CO O-.O 030) VCK ccyi OM spot has been easier, closing at 93^c. for middling uplands. W -? *5 -J °° , OD CD * <0 , ^ 1 1 °5 The rates on and off middling, as established Nov. 21, 1900, t 1 , 1 1 1 1 ' 1 00 on ' 1 M 1 ' ' 6 ' > CD by the Revision Committee, at which grades other than M W If CJI CO M (J. to ? 1 middling may be delivered on contract, are as follows. ; d 1 d 1 9 d i d 1 d 1 9 1 9 ; d 1 9 1 d 1 d « "^ ® * ^ * * * * ® 0. 1 *? Fair 0. l^e on strict (Jood Mid. Tinged. 3,8 on 1 1 1 1 1 1 °P 1 1 1 1 1 1 1 1 1 CO ' ' M 1 CO 1 00 ' to 1 M 1 CO to ' CO Middling Fair >(i on Good Middling Tinged Even 'g to 01 to 00 Strict Good Middling Hi on Middling Tinged le off GoodMlddling ^leon Strict Low Middling Tinged "8 off The Visible jsupply of cotton to-night, as made up t)y gtrict Sjeofl Middling off Low Middling Stained »fl cable and telegraph, is as follows. Foreign stocks, as well Low Middling 'leoff Strict Low Mid. Stained... l^e ofl as the afloat, this consequently all Strict Good Ordinary \ off Low Middling Stained l^s ofl are week's returns, and Good Ordinary liieofi foreign figures are brought down to Thursday evening On this basis the official prices for a few of the grades fcr But to make the total the complete figures for to-night the past week—Feb. 9 to Feb. 15—would be as follows. (Feb. 15), we add the item of exports from the United States, including in it the exports of Friday only, UPLANDS. Sat. Mon Tues UTed Tk. Frl 1901 1900 1899. 1898 Stock at Liverpool bales. 736,000 645,000 1.784,000 1.168,000 Good Ordinary. 8iiie n 8ifl 8ifl 87,6 Stock at London 11,000 4,000 3,000 3,000 9i« Low Middling.. 96,6 9»i« 9% 91, fi Total Great Britain stock.' Klddllng 9«8 9>« 747,000 649,000 1,787,000 1,171,000 9% 99i« Stock at Hamburg Good Middling.. 1U1,B 9i5,e 15,000 19,000 21,000 7,000 y's Stock at Bremen 216,000 227,000 401,000 329,000 BUddlingFair... 101-2 1038 106, A 10k Stock at Amsterdam 2,000 3,000 3,000 GULF, Sat. nion Tnes UTed Th. Frl Stock at Rotterdam 200 300 200 300 Stock at Antwerp 4,000 5,000 11,000 7,000 Good Ordinary. 8i5,e 8i3ie 8% 8% 811,6 Stock at Havre 152,000 238,000 343,000 283,000 Low Middling... 99.6 97, o 938 938 95,6 Stock at Marseilles 3,000 4,000 4,000 4,000 C Stock at Barcelona 57,000 80,000 47,000 68,000 Middling 10 p. 91316 913,6 9% Stock at Genoa Good Middling.. 105,6 103, R 83 lOifl lOifl 101, 22,000 44,000 59,000 41,000 Stock at Trieste 5,000 3,000 12,000 4,000 Middling Fair.. 10% 1058 109, fl I0»,a loia Total Continental stocks 474,200 b22,300 904,200 746.300 8TAINBD. Sat. mou Tnen \¥ed Tb. Frl Tetal European stocks.. 1,221,200 1,271,300 2,691.200 l,917,3u0 India cotton Low Middling 8I4 8i« 81,6 81,6 8 anoat for Europe 114,000 21.000 93,000 49.000 Middling 914 9i« Holi- 9116 91,6 9 Amer. cotton afloat for E'rope. 421,000 481,000 510,000 560.000 Strict Low Middling Tinged.. 933 914 day. 93,6 9Sie 919 EgTpt,Brazll, 346 THE CHRONICLE. [Vol. LXXII. At the Interioe Towns the movement—that is the receipts Quotations fob Midduno Cotton at Other Markets.— £or the week and since September 1, the shipments for the Below are closing quotations of middling cotton at Southern week and the stocks to-night, and the same items for the and other principal cotton markets for each day of the week. corresponding period of 1899-1900 -is set out in detail below. OLOaiNG gOOTATIONS FOB MIDDLIMG OOTTOK ON— Week ending Feb. 15. Sdtvr, Hon, Trtet. Wedne$. Thurt. Fri. «S P 1 63 !,» S-E CSSB^P Galveston. . 938 95i8 She 9H 914 9^ a a?- o New Orleans 93,8 o 9^16 95l6 95,8 93l8 93ifl ^7> Mobile 93,8 93i« 9he 9^8 9I8 9^16 9 Savannah... 938 938 95,6 9B,e 9I4 94 Charleston. 91* 9^ 914 914 9I16 9I18 H HOBO Wilmington. 914 914 9I4 B S O H H 95;6 9°i« 94 H O Norfolk 97,6 9'l6 97,a 938 938 939 Boston 9i58 9»8 H w; Q "85 9\ 9% 99i« 99,6 Baltimore . 9^ 9\ 9^ 968 9*8 988 « "9 .^ Philadelphia 10 9'8 913,8 9 9% W M * w :;:•••"••S: . 3ie 2>-3: Augusta 91s 9% 9*38 938 9*16 938 Memphis.... 938 938 938 9>4 9J4 9H St. Louis.... 9'4 938 938 938 9^18 95ie 9S9 -©M C005pi .'^J^ S" f"^ i^ Houston 9*8 96,8 95,e 914 9 k '© >-• 00 8? 9B8 O'cOOta CO CJ< >-' Co"r- ex 00 CW to't-" 05 M CO to CO O to Mt-M-a Cincinnati . 9B8 988 9B8 9»8 9Ba 00®«-CO»a5a5-'l©3>*'l-'Qoecto05a5iJ»-050Dcx>»oonf-tC©OOKti' Ol»^0505CJ©0000*»COlUOtM^OOCCOtitOU'OOtceOCOWltCWaot-'^©lP- Louisville... 9>9 9^ 9»« 9i« 9ifl 9>3 The closing quotations to-day (Friday) at other importart t-1 ») •-' en H" ^ to coc;«cj © o< ^totato to *>• toot M COi—H-tO South unfavorable weather conditions during the week have CnO'COl-' >-'CO^H; oc; to CO n: CO — *» 05 co-^Wh-coto^jo-. couicr.)-' .^1 CO-~1O5Q0MtOC7'l^l^' WlJ^COCO-]|^tSOOOCO©COK>iO'-aOC;iU<*Ot30& o interfered with the preparation of land for the new crop ©cj-oic^icosc;"!''!-'; O'C0'-0X05t0l-'i— 0;0^0»COtOC/^COO-Jt0^iOO • ©05©tOCDI-'CC(f>CO C>H'l-'l-'OOifr.C:»>-'C^O''^-jO February 16, 1901.] THE CHKONICLE. 347 Savannah, Georgia.— R?iin has fallen on four days of the European Cotton consumption to Febeuaky 1.— By week, to the extent of two inchea and tea hundredths. Av- oable to-day we have Mr. Ellison's cotton figures brought erage thermometer 53, highest 6G and lowest 40. down to February 1. We give also revised totals for last Charleston, South Carolina.—We have had rain on three year that comparison may be made. The spinners takings days daring the weei£, the rainfall oeiag one inch and in actual bales and pound.s have been as follows: twenty six hundredths. Toe thermometer ha? averaged 50, the highest being 5^ an 1 the lowest 33. Oct. 1 to Feb. 1. Oreai Britain Continent. Total. Statebarg, South Carolina.—The weather more than half of 1900-1901. the week has beea too wat to pdrmit of plowmg. Th3re has For by spinners... bales 1,245,000} 1,571,000 2.816,000 been rain oa three days duriag the week, the precipititioa Takings beiag one ioch ani forty six haalreiths, Tae thermometer Average weight of bales.lbs 513i 493j 5023 in pounds 639,985,000 774,503,0C0 1,414,488,000 has averagad 47, raagiug from 33 to 60. Takings Oreenwood, South Cxrolina. —There has baen rain on three For 1899-1900. of daysduriag the week, to the extent ninety-two huadredthg Takings by spinners... bales 1,307,000 1.613,000 2,922,000 ranged of an inch. The thermometer has from 3> to 53, Average weight of bales.lbs 516, 497 6056 averae;ing 41. Takings In pounds 674,319,0001 802.938,0001 1 ,477.257,000 Ardm .re, Indian Territory. —We had a heavy snowfall on Tuesday, but conditions have since improved. Preparations According to the above, the average weight of the deliveries is 513 pounds per bale this for the next crop of cotton are backward, however. in Great Britain season, against the same time last season. The 1 The following statement we have also received by telegraph, 5 1 6 pounds during Gontinen t a showing the height of the rivers at the points named at deliveries average 493 pounds, against 497 pounds last year, whole of Europe the deliveries average 502-3 8 o'clock Feb. 14, 1901. and Feb. l.o, 1900, and for the pounds per bale, against 505 6 pounds last season. Our Feb 14, '01. Feb 15, '00 Jispatcb also gives the full movement for this year and latt Feet. Feet. year in bales of 500 pounds. New Orleans.... Above zero of gaage. 6-7 4-8 Memphis Above zero of gauge. 13.0 17-8 Feb. 1. 1900-1901. 1899-1900. Nashyllle Above zero of gauge. 103 240 Ocim 1 to Bhreveport Above zero of gat ge. 67 10-7 BaUs of 500 lbs. each, 19-6 Breat Conti- Great Conti VlolrabuTg Above zero of gauge. 13-2 000s omitted. Total. Totai Britalt. nent. Britain nent. India Uotton Movement from all Ports. —The receipts Spinriers* stock Oot.l. 47, 324 371. ' 63 525 583. of cotton at Bombay and the shipments from all India ports Takings to Feb. 1 1,277. 1,549. 2,826, 1,349 1,606 2.955. for the week ending Feb. 14, and for the season from Sept. 1 to Feb. 14 for three years have been as follows: SuddIv ...... 1.324. 1,873 3,197 1,412 2.131, 3,543, Consumpt'n, 17 weeks 1,084 1.479. 2,563 1,156 1.547. 2.703, 1900-1901. 1899-1900. 1898-1899. Spinners' stock Feb. 1 240 394, 634 1 256, 584. 840, Receipts at— Since Since Since. Week. Week. Week. Sept. 1. Sept. 1. Sept. 1 Weekly Consumption Bombay 73,000 783,000 30,000 591.000 90,000 855,000 000. omitted. In October 50, 87, 137, 68, 91, 159, For tKe Week. Since September 1. In November 68, 87, 155, 68, 91, 159, Exports from— Great Conti- Great Conti- In December 68. 87, 155, 68, 91, 159, Britain. nent. Total. Britain. nent. Total. In Jannarv 68. 87, 1.55. 68. 91. 159. Bombay— 8HIPPINQ rsBWS. As Shown on a previous page, the 1900-01.. 19.000 19,000 31,000 241,000 272,000 — 1899-00.. 3,000 3.000 '29,000 29.000 axports of cotton from the United States the past week have 1898-99.. 9,000 9,000 2'6o6 148,000 150.000 reached 85,580 bales. The shipments In detail, as made up Oaloatta— from mail and telegraphic returns, are as follows: 1900-01.. 2.000 8,000 10,000 TolcU bales. 1899-00.. i"6o6 i'obo 1,000 7,000 8,000 New York—To Liverpool, per steamers Cymric, 735 No- 1898-9 J.. 2,000 14,000 16,000 madic, 1,986. ...Philadelphlan. 383 3,104 Madras— To Manchester, per steamer Tropic, 1,224 upland and 600 1900-01 . 7,000 9.000 16,000 Sea Island 1,824 1899-00.. i",boo i".6o6 2,000 2,000 To Havre, per steamers La Champagne, 331 upland and 34 1898-99.. 1,000 1.000 2,000 15.000 17.000 Sea Island ...Tennyson, 25 410 All otliers- To Bremen, per steamer Dresden, 2.078 2,078 1900-01.. 1,000 1,000 8,000 29,000 37.000 To Hamburg, per steamer BulKaria. 480 480 1899-00.. 12,000 ly.ooo To Antwerp, per steamers Kensington. 484 St. Cuth- 1898-99.. i'obo 51,000 55,000 bert, 20'J....We8ternland, .500 .'. 1,184 To Christiana, per steamer Alexandria, 100 1 00 Total all— Saw ORLBAN8—To Liverpool— Feb. l3-8teamer Barrister. 1900-01.. 20.000 20,000 48,000 287.000 335,000 10,000.. ..Feb. 15— Steamer Jamaican, 5.200 15,200 1.000 1899 00.. *""'* 5.000 5,000 60,000 51,000 To Bremen- Feb. 12—Steamer I.sola di Favisnano, 3.400... 3.400 1898-99.. lO.OOO 10,000 10,000 228,000 238,000 To Hamburg—Feb. 14—Steamer Mlnterne. IOj 100 Alexandria Receipts and Shipments op Cotton.— To Antwerp— Feb. 11—Steamer Rosalie. 2,964 2,964 ToC()penh.>gen-Feb. 1 1— Steamer Florida, 1.600 1,600 To Oporto-Feb. 11-Bak Glyclnla, 700 700 Alexandria, Egypt, 1900-1901. 1899-1900. 1898-1899. To Genoa—Feb. 15— Steamer Liugio Ciampo, 5,564 5,864 February 13. QALVBSTON-To Liverpool— Feb. 9 -Steamer Almeiian, 6,43S.. 6,438 To Rotterdam— Feb. 9—Steamers Celtic Princess and Ru- Receipts (oantars*) . . perta, 2.670 2.670 This week.... 130,000 170.000 125.000 To Vera Cruz—Feb. 14—Steamer Normandie, 475 475 Since Sept. 1 3,937,000 5.618,000 4,758,000 PKN8AC0LA—To Liverpool— Feb. 12—Steamer Leocora, 5.001. 5,001 This Since TMt Since TMt Since To Antwerp-Feb. 13—Steamer Silopiii, 450 450 Savannah-To Liverpool Feb. 9—Steamer St. Quentin, 6.222 week. Sept. 1. week. Sept. 1. week. Sept. 1. upland and 2C0 Sea Island 6,422 Brports (bales)— To Bremen— Feb. 13- Steamers Leveu, 6,274; Woodburn, 3,199 10,473 To I.ilverpool.... 1.000 202,000 11,000 300,000 7,000 204.000 To Antwerp—Feb. 13- Steamer Woodburn, 2,102 2,102 To Continent t 8,000 161,000, 17.000 286,000 8,000 196,000 BKDN8WICK—To Mancnester—Feb. 14—Steamer Nether Holme, 2,465 2,465 Total Europe 9,000 363,000 15.000 402,000 28,000 586,000 BOSTON—To Liverpool— Feb. 8-8teamer Ultonia. 2.417 - A oantar is 98 pounds. Feb. 13—Steamer Commonwealth, 2.257 4,704 1 Of wiilcli to America In 1900-1901, 29,503 bales; In 1899-1900, Baltimore -To Liverpool- Feb. 8—steamer Ro w.inmore.2,520 2,520 59,647 bales: In 1898-99. 24.937 bales. To Hamburg— Feb. 8—Steamer Bethania, 1,100 Feb. 11 —Steamer Belgia, 800 2,300 Manchester Market.— Our report received by cable E»HiLADELPHiA—To Liverpool- Feb 12—Steamer Belgenland, to-night from Manchester states that the market is dull but 700 700 steady for yarns and quiet for shirtings. The demand for Tacoma—To Japan—Feb. 8—Steamer Duke of Fife, 1,152 1,152 both yarn and cloth is poor. We give the prices for to-day Total 35,580 below and leave those tor previous weeks of this and last year for comparison. Cotton freights at New York the past week have been as follows. 1901. 1900. Satur. iron. Wtdnes. Thurs. FH. lbs. SMrt- Oott'n Ihs. Shirt- Ootl'n Tuts. 32f Cop. 8H 8H ings, common Mid. S2s Cop. ings, com.moii Mid. Twist. Tioist. Llverpoool c. 15 14 14 - 14 14 to fittest. Uplds to finest. Uplds Havre ...... c. 25 25 23 23 23 d. d. s. d. s. d. d. d. d. s. d. 8. d. d. Bremen c. 27 27 27 27 27 J a. 11 8^9 9938 6 6 '»8 lia 51932 71i8®7H„ 5 ®7 9 4I9 •• Hamburg e. 25 25 25 25 35 18 8>a «938 5 6 1»8 l>fi 51S.12 74 ®7V 5 ts? 9 41»3j " 25 S»« ©938 5 6 1»8 1»« 5ifl 7H iDT^i 6 li«t»7 10»« 4iy„ Amsterdam c. 82 32 32 32 33 Feb. 1 5 t>8 lia 738 5 87ifl0938 6 51332 -as 2 ®8 4% Rotterdam c. 27 27 n 27 27 27 " 8 8»« «938 5 6 t>8 3 51582 TSg (JSH 5 4 -OS 3 S'aa Reval, v.Br-Hame. 42 42 42 42 42 " 15 8% ll'9'4 6 5iaa8 3 51»^9 7^8 •a'8>3 5 6 1>8 41^) ^H'2 Do V. HU11...C. 38 38 » 33 33 38 Jute Butts, B.vaaiNO, &o.—The market for jute bagging Do V. St. Pet.o. 38 38 38 38 38 has been extremely dull during the week under review, but Genoa, Jan c. 30 27i«-30 27>«-30 27H-30 27>t-S0 prices are unchanged at 5JaC. for T'^ lb. and O^^c. for 2 lb., Trieste e. 35 35 35 35 35 82i« standard grades. brands are : S2ii Car-load lots of standard Antwerp e. 22\ 22>s 22>fl quoted at OigCae^^c, f. 0. b., according to quality. Jute Ghent, v.Antw'p.c. 29 29 29 i9 29 butts have been without feature, 1?4C. with prices nominal at Quotations are cents per 100 lbs. or traotlona of ft penny per lb. for.paper quality and l'30@2-45c. for bagging quality. " And 5 per cent 348 THE CHRONICLE. rVOL. LXXII. LiVEHPOOL.—By oable from Liverpool we have the follcw • Indian corn futures have received increased attention and ing statement of the week's sales, stocks, &o., at that port. at steadily advancing prices. Advices from the interior have reported very moderate country offerings and acceptances. Jan, 25 Feb. 1. Feb. 8 Feb. 15 The volume of export businees transacted has been large. At the seaboard shippers have been good buyers on a higher Bales of the bales. 40,000 44,000 53,000 week 43,000 basis of values and reports received from interior Of which exjjorters took... 1,700 1,300 1,20C 200 markets Of which speonlators took. 300 600 600 1,200 state that exporters have been fairly free buyers. Shorts have Sales American 39,000 36,000 41,000 50,000 been buying to cover their contracts in the speculative mar- Actual export 10,000 1,000 3,000 10,000 kets. Commission houses also have been reported as fair Forwarded 57,000 69,000 78,000 61,000 Total Btook—Estimated 6^1,000 747,000 779,000 736,000 buyers for investment account, induced by the large con- Of which American—Est'd. 620,000 666,000 687,000 649,000 sumptive requirements. The limited supply of contract Total Import of the week 91,000 125,000 112,000 28.000 grades is an important factor in holding short selling in Of which American,... 81,000 107,000 94,000 21,000 check. To-day there continued fair buying and prices held Amoont afloat 275,000 225,000 165,000 216,000 Of which American 240,000 195,000 157,000 193,000 steady. The spot market was fairly active. The sales for export here and at outports were 402,000 bushels. The tone of the Liverpool market for spots and futures each day of the week ending Feb. 15 and the daily olos^ng OAILT OLOBINO PKIOBB OF NO. 2 MIXED OOBM IH NEW YORK. prioes of spot cotton, have been as follows. Sat. Man. Tues. Wed. Thurs. Frx. Cash corn f. o, b 4658 4714 4753 48 47% 5 May delivery in elev 44% 4 >4 Holiday. 45^9 46 46H Spot. Sat'day. Monday. Tuesday, Wed'dav Thurtd'y Fridai). July delivery in elev 44 44^8 44% 45 4558 DAILY Fair OLOSINO PBIOBS OP NO, 2 MIXED OOBN IM CHICAGO. Market, ) Moderate Quiet. bnsiness Easier. Quiet, Firmer, 8at. Fri 1:45 p. vi.\ demand. Mon. Tues. Wed. Thurs. doing. Feb. delivery in elev 3714 33 38 33 38ifl March delivery in elev... 37% 38i«HoUday. 38ia 39 39 Mid. Upl'dB. 51E39 538 5lls2 61 57i6 632 May delivery in elev 39 14 39% 39'78 4014 40ia Bales 6,000 10,000 8,000 8,000 10,000 8,000 Oats for future delivery at the Western market have been Bpeo. diexp. 500 500 500 500 600 ,500 quiet. There has been some selling by elevator interests Futuret. but these offerings have been well absorbed and prices have Market, Quiet at Quiet at Barely Steady at held about steady. The local spot has \ Steady. Steady, 2-64 de- partially steady at a-64@s-6» market been more 1:45 p. M. \ cline. 1-64 deo. 3-64 dec. advance. active and firm. Tliere has continued moderate buying by exporters of heavy white oats, and the home trade has been Market, \ Quiet. Easy, Dull, Steady, Quiet. Easy, a freer buyer. To-day the market was quiet and unchanged. 4 p. M. ) DAILT OLOSINO PBIOBS OF OATS IN NEW YORK, Liverpool for each are given The prioes of futures at day 8at. Mon. Tues. Wed. Thurs. Fri, oelow, Prioes are on the basis of Uplands, Low Middling No. 2 mixed in elev 30>« 30^! Holi- 30ia 30ifl 30i« clause, unless otherwise stated. «o. 2 white in elev 33 33 day, 33 33 33 DAILT OLOSINO PBI0E8 OF NO. 2 MIXED OATS IM CHICAGO. Sat. Mon. Tnes. TTed. Tburs. Frl. SoL Mon, Tues, Wed. Thurs. Fri Feb. 9. Feb. 11. Feb. 12. Feb. 13. Feb. 14. Feb. 15 Feb. delivery in elev 2438 24i« Holi- 2438 2438 243^ May delivery in elev 25 J4 2539 day, 2539 25 >• 2538 12ifl 1 1:45 4 1:45 4 1:45 4 1:45 4 1:46 4 Rye and barley have been dull, with unimportant changes p. M. P, M. P, M. P, U. P.M. P.M. P.M. P.M. P.M. P.M. p, M. p. M. in prices. d. d d. d. d. d. d. d. d. d. d. Following are the closing quotations: 5 24 5 23 5 21 5 23 5 21 5 20 5 19 5 19 5 17 517 5 20 5 Fehruary... 19 FLOUB, Feb. -Men... a 19 5 19 5 20 5 19 5 17 5 17 5 15 6 16 5 13 5 13 5 16 5 15 Moh.-April.. 5 17 5 17 5 18 5 17 5 15 5 15 5 13 5 14 5 11 5 11 5 14 5 13 Pine $2 20 «2 30 Patent, winter.... $3 75 ©3 95 April- Bl ay.. 5 15 5 15 5 16 5 15 5 13 5 13 5 11 5 12 5 09 5 09 5 12 5 11 Superfine 2 30 ®2 40 City mills, patent.. 4 15 ®4 75 May-Jnne... 5 13 5 13 5 14 5 13 5 11 5 Tl 5 10 5 10 5 07 5 07 5 10 5 10 Extra, No. 2 2 40 -92 50 Ryeflour,8uperflne 2 80 »3 55 June-July... 5 12 5 11 5 12 5 10 5 09 5 08 5 07 5 08 5 05 5 05 5 0.K 6 08 Extra, No. 1 2 50 »2 75 Buckwheat flour.. 2 00 «2 10 Juiy-A.ug.... 5 08 5 08 5 09 5 07 5 05 5 06 5 05 5 05 5 03 5 03 5 06 5 05 Clears 2 90 ®3 35 Corn meal- Aug. -Sept... 4.59 4 59 4 60 4 58 4 57 4 57 4 56 4 56 4 54 4 54 4 57 4 57 Straights 3 40 ®3 90 Western, etc 2 25 »2 35 Patent, spring 94 Sept ,L.M.C. 4 59 4 59 4 60 4 58i 4 57 4 57 4 56 4 56 4 54 4 54 4 57 4 57 3 90 65 Brandywine 2 35 a 2 40 Oct., G. 0.0. 4 35 4 35 4 35 4 33 4 32 4 31 431 4 32 4 30 4 31 4 34 4 34 (Wheat flour in sacks sells at prices below those for barrels.) 4 28 4 4 25 4 24 4 24 4 25 4 23 4 4 Oct. Nov,... 4 28 4 28 26 24 27 4 27 OBAIN. Nov.-Deo - . Wheat, per bnsn.— o. o. Com, per bush.— 0. HardDuluth,No.l 89^®91 Western mixed. 46 948 N'thern Dul., No.l 85 14® 88 No. 2 mixed 46 948 BREADSTUFFS. Eed wlQter, No. 2 79 ®80% Western yellow 46ifl«48i4 Friday, Feb. 15, 1901. Hard N. Y. No. 1. 88 989% Western white 47^4949 Oats—Mix'd, p. bush. 30 ®33 Rye, per bush— The demand for wheat flour has shown a small improve- White 32ifla'37ifl western 56 -aei ment. Sound grades of spring patents have received a mod- No. 2 mixed 30i3(»31ifl State and Jersey » .... erate amount of attention and sales made have been at full No. 2 white 83 934 Barley—Western 63 ®73 Feedlnt; 49 955 values. Sound spring bakers also have had a moderate job bing sale and have broueht firm prices. More or less com- The movement of breadstuffs to market as indicated in the plaint is heard of spring- wheat flour purchased to arrive, statements below is prepared by us from figures collected being received out of condition, due to the poor quality of by the New York Produce Exchange. The receipts at the spring-wheat crop. Kansas flour has been held for higher Western lake and river ports for the week ending Feb, 9, prices. City mills have had a slightly better sale at full val- and since Aug. 1, for each of the last three years have been; ues. Demand for rye flour has been dull, but prices have steady. flour has had fair held Buckwheat a jobbing sale on •I(JI<»t« «t— nour. fVheat. Corn. Oatt. BarUv nV*. a steady basis of values. Corn- meal has been quiet and un- changed. BbU.196lbi Bush.eOlhi Bu$h.&Olbi Bush.»2lb» BuihAmbt B».60lh>. Jbioatto.. 239,149 374.591 8,080,922 1,985.976 839,900 48,810 Speculation in wheat for future delivery has shown slightly auwankee.. 43,476 122,250 61,200 121,200 204,260 12,760 spirit. The tendency of prices has been more towards a »«inth 183,190 646,366 37,362 2,659 5,694 slightly higher basis. The United States visible supply made lianeapolti. 1.725.450 849,770 841.370 27,740 4,780 a fairly large decrease, but was offset by the heavy world's Toledo 29.682 66,990 318.274 70,OS1 13,000 10,170 shipments to Europe and a consequent big gain in the sup- Oetrolt ...... 6,600 29.P64 192,682 82.814 plies on passage. The advices from the European markets Cleveland ... 35,694 383.060 186.289 • • • have been conflicting; those from the United Kingdom have 3t. Lonla.... 52.580 807.034 869,600 409,200 33.750 18.000 been inclined to be disappointing, while the Continent has Peoria 30,200 3,650 409.800 203,200 66,S60 9.800 been firmer. During the latter part of the week private cable Camas City. 561.200 338,250 66,600 advices were received reducing the estimate of the rot.wk.l001 401.886 3.4C0,603 6,049,844 3,492.892 677,249 109.904 exportable surplus from Argentine. Advices received ^ame wk.'OO. 423.613 2,791,278 6,208,094 2,812,542 736.079 74,719 from the Western market to the effect that Armour jame wk.'99. 228,983 3.216,828 6,833,101 3,059,907 580,576 130,379 was a steady buyer of futures had a tendency to hold short Since Aut, 1. selling in check, with the result that there was no aggressive 1900-1901. ... 10,804.551 162,?97.49e 123.341.981 97,878,785 32.866,800 3.808,490 trading on the bear side of the market. Business in the spot 1890-1900 10,938,490 139,312.338 124.817,212 97,';e9.«86 29.841.959 4,164,493 9.104,027 199.465,985 131.420,( 98 99,9S5,flS8 market here and at outports has been reported as moderately 189B-1899. 89,436.502 7,758,905 active, exporters being buyers. The interruption to naviga- The receipts of flour and grain at the seaboard ports for tion by the ice blockade in the harbor has had a tendency to he week ended Feb. 9, 1901, follow : in check to hold business some extent in the local market. Flour iVneat, Corn, Oati, SarKe By; To-day there was a quiet market and under limited selling litceiftB at— bbls. bush. b^ish. bu$h. busii. >ewYork.... 115,089 slightly. 29S.200 939,800 498,400 20.876 6.400 prices weakened The spot market was moderately ioiton 26,a3S 66,132 y9,291 8.605 active. The sales for export here and at outports were Ulontrea! 6.150 14,700 3H,«00 3,050 Philadolpnia 84,431 S7,22S 4^8,359 131,224 28.000 184,000 bushels, Baltimore 64.727 119,1<'8 l.S9 February 16, 1901.J THE CHRONICLE. 8^9 Total receipts at ports from Jan. 1 to Feb. 9 compare hk staples^ euch as Thibets, unfinished worsteds, clays aud follows for four years: serges, without change in price. In low-grade good.s, such RteHwU of— 1901. 1900 IHHU. 1898 as cotton warps, satinets and doeskin jeans, business is quiet. rionr ....bbll. 2,19»,015 2,103,110 2,026,785 2 219.92!) Only indifferent progress has been made with overcoatings (fhoat ...bnsii. ll.e76.2K5 7,3ie,f8'? 18.757.227 3,120,824 outside of Oxford mixtures, for which the demand continues " 27,663,918 18,183,917 i:i.27a,5»2 Corn ... 28,l3«,7:a fair. In cloakings the market has been without epecial fea- Oati ... •• 7,614,0fl5 7.2tt><,4«8 6,!l2«,8fl3 13,lHi) MH Barley ... • »78,192 l,B71,9ea 876.W.'ia ture, and flannels and blankets continue dull. «Te .. " 24a,880 2il.886 l,o65.eiO 1,8«1,447 Domestic Cotton Goods. —Tne exports of cotton goods Total Brain... 48,067,840 34,683,023 49,301,702 47,177.874 from this port for the week ending Feb. 11 were 4.254 The exports from the several seaboard ports for the weeh pacKages, valued at |19ft,901, their destination being to the in ending Feb. 9, 1901, are shown the annexed statement: points specified in the tables below : Wheat Corn, ^lottr. Oatt iZV«. Ptat, Burin Matprtt frofn- butA huih. bbl*. bush. bu«A. bu»h. buj/t. 1901. 1900. Hew York 70s,«-4 77fl,fi61 65,80B 78,428 8,30a 25,100 New Tobk to Feb. 11 Boiton l«8,78'< 194,088 40.126 15a,317 .... - . TTm/c. Since Jan. 1.\ Week. Since Jan. 1 Portland, Me. l«l,Me8 ev.wfio 19,758 3H,109 8,860 Pblladelphla.. 6^,^06 044.893 74,Z.S» 220.000 Baltimore 144.000 l,2o».27W 81.-95 199,4.'= 5 12.867 Qreat Britain 71 487 28 101 New Orleani.. 152,000 60.'.,94l 10.069 68,580 Other European...... 4 485 5 93 ii6,930 . Norfolk 11,785 > «• > * • China 1,651 4,276 20,251 44,862 Newp'rt Newi 32,000 195,497 [Ddla ."50 115 100 1,976 aalTeaton 431,OCO "68i Arabia 1,000 1,000 4,258 Pensacola 4,979 ••<« ...... Mobile 68,274 Af rloa...... • 73 396 27 693 8t. Jolin,N.B 40,980 3i,778 7.078 38,291 8,561 26,357 2H,513 West Indies 548 3,518 298 2,498 Mexico 29 252 74 418 Total week ..1,893,1>^6 4,004. 9r)5 310,838 796.200 80.378 29.663 61.613 Central America.... 213 1,554 276 1,55'J flame tlme'OO.. 1,08^.769 2,918,18U 220,407 249,802 33,91(1 98,024 290,051 BoTitb America... .. 649 8,702 1,391 6,428 The destination of these exports for the week and since Other Ooantrlea...... 66 818 296 1,187 September 1, 19C0, is as below: Total. 4,254 21,603 122,746 64,072 - — riouT. . Wntui. • C«fr.. Mte^ortt tot '"^(>e> ainc ,Sei t. "' New Orleani 366,000 b; 5,000 for coarse, colored cottons is barely steady. Cotton linings Galveston 1,286,000 are quiet but generally steady. Staple prints are in fair Montreal 99,000 18,00 U 128,000 9,000 41,U0' Toronto 50,oon 2.000 4,006 demand at steady prices, with a moderate business in fancy ' BoHalo 2,716,000 13,066 45.100 '56,006 e62,(J0( calicoes. Fine printed wa?h fabrics are in relatively Do afloat 1,014,000 162,000 good Toledo 666.00' 1,714,000 2e6,oi;o '"o.buO demand. There has been no change in the gingham division Do afloat .... the demand is quiet at previous prices. Dark domets for fall Oatroit 4e4,uuv 513,000 34.Vo'6 87,000 Do afloat are selling fairlv well. Print cloths are inactive but steady 8,529,nn'i Okloago ll,444.n«n 8,090,onn 590,6o'i> 271,00c tor regulars. Narrow odds barely steady wide odds Do afloat 57,000 314,000 1,204,000 and Milwaukee l,019.uu> 58l,>i.v 819,000 1,000 25,0' generally 3^c. lower. Do afloat rtWlU'm* PUAnhnr 1,637,000 Foreign Dry Goods. -L'ght-weight dress fabrics have Dniuth 7,218,00c 2,693,000 967,000 294,000 :5 ; been in fair request; other woolen and worsted dress goods Do afloat Mlnneapol li 16.822.00'' 184.000 8,247,000 't 4,00 c 89,0.1 slow. Silks and ribbi^'iis show an improvement in tone and Bt Lonli, 4,501,00c 4fi4,uut lO.OCO 10,000 64,000 in busine.'s doing. Linens are quiet but strong on foreign Do afloat 16.000 KanaaiClty 1,482,000 825,000 ' 11,066 advices. Burlaps firm and still scarce. Peoria 11,000 881,000 695,000 32.000 21,000 Indlanapolli ZiS.OOO 27,000 28,000 2,000 Importatlousand Warehouse Wlttadrawale of OryGooA OnMiiiiBilpplRtTer. Onliakei H B S a B, ? s s On eanal and river. . H H o %^ o ss o „ n BP Bfct-S a Total Feb. 9, 1901». 58,494,000 16 061.000 10,290,000 1,205,000 1.779,000 9 » Total Feb. 2, 1H01». 5H,7«7,000 SE SE 14,8^5,000 9,9i9,000 1,196,000 1.873,000 . 6M.1.04000 2: : b: o Total Keb. I'l, istoot. 14,719,000 5,H68,000 1,126,000 l,60i!,0(i' S; 5 SI »'. '. Total Feb. 11, 18B»t. 30,161000 30 574,000 7,150.000 2,9JiJ,000 »'.'.,. a » I i p . H 1,587,000 oS •< o2 Total Feb. 12, o • O • • • • HJ f^ o • • 1 : h< 1: i j : 1 B 1898+. a5.634,000 83.572,000 14,013,000 8,943,000 a.ees voc ft o GS OB • • f • CP ::•> siihs • Includes stocks In private • • • A elevators at Milwaukee. Si 9 t I • 1 • Si 3 tStock s In private elevators at Slilwaukee not B) Included. • • • • 1 Note.— BeKlnning July 1, 1899, the New York Produce axchange has chanKe* • I i • • • • I ' K Its Visible Supply Statement byincludinR h a . . • B stocks at New Orleans, Galveston, i^ M MI- •^ 1 Ft. William and Ft. Arthur (previously omitted) and leaving out Albanj h3 M n 00 MO CO MOO I <1 M OsweKO and Cincinnati, formerly included. 5? CO ©CO 01COMO>»o o O03 O CO M -J to > mccVmco c nn OCD iot3i^M«a NT OtO to 05 00 U> CO o i*'^05C:m •• 00 OQO ioeo 360 THE CHKONJCLE. [Vol. LXXII. Bond Proposals and this % m^ OiTY ^tfmwtm, Negotiations week have been as follows : Alabama. Acts of the State Legislature.—We give below News Items. various bond bills which have been under discussion in the State Legislature, giving,the present status ot the same. Indiana.—Bond Bill Signed.—The Governor has signed Bills Introduced. House Bill No. 8, legalizing all acts and orders of the County Commissioners with reference to the issuance of gravel-road Bessemer-H. B. No. 1136, authorizing water bonds. Bessemer— H. B. No. 1310, authorizing electric-light bonde. bonds. Enslet, Jefferson Codntt—H. B. No. 1024, auhorlzing bonds for Marvland.— Special Session of the State Legislature.—i^ov- various purposes. ernor John Walter Smith has called the State Legislature to Jackson -H. B. No. 1145, authorizing $15,000 water and light bonds. session on March 6 tor the purpose of cor- convene in special Mobile Co.—H. B. No. 1027, authorizing $100,000 jail bonds. recting " errors believed to exist in the enumeration in the filONTGOMEEY— H. B. No. 947, authofiziug light bonds. recent United States Census of the population of this State," MoNTGOMEEY-H. B. No. 1181, authorizing $ 1 00,000 bonds. NoRTHPOBT H. B. No. 1289, authorizing city of Biltitnore to improve the sew- school bonds. and also to enable the Tdscaloosa Co.—H. B. No. 1032, authorizing bridge bonds. erage system of that city. Tdscaloosa Co.—H. B. No. 1034, authorizing $2u,000 refunding VtAh.— School Debt Limit.—The Senate has passed Senate bonds. Bill No. 15, increasing the limit of bonded and existing in- Bills Passed by Senate. debtedness of school districts from 2 to 4 per cent of the Andalusia— 8. B. No. 302, authorizing $10,000 school bonds. assessed valuation. Calhoun Co.— 8. B. No. 496, authorizing court-house bonds. Elba— S. B. No. 509, authorizing water and electric bonds. Greenville -S. B. No. 379, authorizing $l 5,000 water bonds. Montgomery Co.— 8. B. No. 492, amhorlzing $5o ooo road bonds. Bond Calls and Redemptions. Roanoke— 8. B. No. 431. authorizing water an d light bonde. Bills Passed by House. Aastin, Texas.—Bonds Purchased.—The City Council has Austin water Abbeville—H. B. No. 1056, authorizing $10,000 water and fire-de- decided to purchase $20,000 of the $1,295,000 partment bonds. and light bonds from Major R. J. Breckenridge, paying ALhXANDEBCiTY-H. B No. 1077. authorizing $20,^00 water bonds. $14,5'!0 for the same. Colbert Co.—H. B. No. 788, authorizing $210,000 refunding County, Mo.—Bond CaZZ.—Interest ceased on bonds. Callaway Etowah Co.—H. B. No. 1170, authorizing $10,000 current expense Feb. 1, 1901, on 5jf bonds Nos. 66 to 70, inclusive, for |500 bonds. each, and bond No. 139 for $1,0C0, all dated Aug. 1, 1817. HUNTSVILLE-H. B. No. 1007, authorizing $60,000 bonds. City, Mo.—Bond CaU.—This city called for pay- Jackson Co.—H. B. No. 1021, authorizing road and bridge bonds. Canton Pike Co.— H. B. No. 863, authorizing road bonds. for ment Jan. 1, 1901, bonds Nos. 3, 4 and 5, each §500, dated West End, Jefferson Co.— H. B. No. 1262. authorizing bonds. Dec. 2S, 1889. Interest was at the rate of 5%. Winston Co.-H. B. No. 1070, authorizing $30,000 refunding bonds. Clay County, S. Dak.—Bonds Redeemed. —The Board of Bills Passed by Legislature. County Commissioners has redeemed $12,000 bonds, the last Bessemer— H. B. No. 344, authorizing school bonds. of an issue made some years ago in aid of the State Univers- Clayton—H. B. No. 1009, authorizing water bonds. Vermillion. Cullman—H. B. No. 89 >, authorizing $10,OuO light bonds. ity at Decatur—H. B. No. 857, authorizing sewers. Cole County, Mo.—Bond Call. —Interest ceased on Jan. 1, J ACKSONViLLB-H. B. No. 371, authorizing water bonds. 1901, on bonds Nos. 29 to 38, inclusive, each for $500. Bonds Mobile—H. B. No. No. 557, authorizing $60,000 funding bonds. Montgomery- S. B. No. 359, authorizing hospital bonds. were dated Jan. 1, 1888, and bear 5% interest. $25,000 Montgomery -H. B. No. 448, authorizing paving bonds. Concord (P. 0. West Concord), Tt.—Bond Call.—B.. C. Opehka—S B. No. S07, authorizing $100,000 sewer bonds. Wilcox, Town Treasurer, called for payment February 15, Selma—H. B. No. 1057, authorizing market and fire-department bonds. 1901. the following b% refunding bonds, issued in 1885 : Nos. Talladega— S. B. No. 294, ratifying and confirming Issue of $50,- of 1 in- 1 to 48, inclusive, in denomination $500; Nos. to 19, 000 bonds. clusive, in denomination of $200; Nos. 1 to 22, inclusive, for $100 each, and Nos. 1 to 14, inclusive, for $50 each. Albany, N. Y.—Bond Sale.—Oa February 13 the $104,000 Gallatin County, 111.—Bond Call.—John McKelligott, refunding water, $10,000 Beaver Park and $10,000 public- 1-20 County Clerk, has called for payment March 1, 1901. at the bath d}{% year (serial) bonds were awarded to the Albany State Fiscal Agency in New York City, $190,000 6^ funding Savings Bank at 104—an interest basis of about 3 053^. On (serial) bonds, bearing date July 1, 1885. the same day the §65,000 3%% 1-5-year improvement Idaho.— Warrant Call. —The Portland "Oregonian" on bonds were awarded to the People's Trust Co. of Brooklyn at January 18 stated that "State Treasurer Plummer has, lOl'll—an interest basis of about 3'11^. Besides the above- within the past 24 hours, redeemed $55,000 in State warrants, mentioned institutions, the following firms were represented and announces that within ten days he will issue a call for at the sale : Parson, Leach & Co., M. A. Stein, Allen, band the redemption of all the other outstanding warrants, and & Co., N. W. Harris & Co., Harvey Fisk & Sons, Goldman, when these are paid, for which the funds are on hand, the Sachs & Co. and W. R. Todd & Co., all of New York City, State will be upon a cash basis." and W. J. Hayes & Sons of Cleveland. For description of Joplin, Mo. Bond Call.— Oa Jan. 1, 1901, interest ceased bonds see Chronicle Feb. 2, p. 252. on 6^ bonds Nos. 33 to 39, inclusive, each for $500, dated Anaheim School District, Orange County, Cal.—Bond election will July 1, 1890. Election.—An be held February 19 to vote on Kooteuai County, Idaho.— Warrant Call.—The County the question of issuing $12,500 high-school-building bonds. Treasurer has called for payment all county warrants issued Aiisonia, Conn. Bunds Proposed. —The issuance of build- is prior to April 9, 1900. ing bonds being considered in the State Legislature. Lathrop City, Mo. Bond Call. —This city has called for Bates Coanty, Mo. Bond Election. —An election will be 23 to payment bonds Nos. 51 to 55, each for $100, dated July 1, held February vote on the question of issuing |50,000 bonds. like 1883 Interest, which was at the rate of |5^, ceased on Jan. court-house A proposition was voted upon at 1,1901. the general election last November, but was defeated. New Mexico.—Certificate Call. —Territorial Treasurer J. Beaumont, Texas.—Bonds Re- awarded.—The $115,000 5% H. Vaughn on January 29 called in 20^ of the deficiency cer- 20-40 year (optional) bonds awarded last November to N. W. tificates of $150,000 authorized by the last Legislative Assem- Harris & Co., Chicago, have been re-awarded, it is stated, to bly. The certificates called in were selected by lot and will Duke M. Farson of the same city at 105. cease bearing interest in thirty days from date. Belington, W. Ya.—Bond Election.—In the near future New Orleans (La.) Drainage District. Bond Call.—B,. M. an election will be held to vote on the question of issuing Walmaley, President, has called for payment March 1 at the bonds for an electric-light plant. Louisiana National Bank, New Orleans, the outstanding Bradley County, Tenn.—Bonds Proposed. —This county bonds and certificates of this district. seeks legislative authority to issue $85,0u0 road bonde. Brauchvlile Bill Passes Plattsburg,',Mo. Bond Co Zi.— Interest ceased Jan. 1, 1901, (S. C.) School District.- Sond Senate. The State Senate has passed a bill permitting this on a tive-hnndred-doUar bond, No. 5, bearing b% interest and — issue school- building bonds. dated Jao. 2, 1889. district to Sussex County, y2i.—Bond CaZZ.-Notice is given to the Brockton, Mass. Bonds Proposed. —This city has peti- holders of bonds Nos. 50 to 119, inclusive, issued in payment tioned tbe State Legislature for authority to issue $100,000 of a subscription to the capital stock of the Atlantic & Dan- additional water bonds. ville Railway Co., to present the same for payment at the Calais, Me.—Bond SaZe.—This city has sold an issue of office of John B. Jarratt, County Treasurer. $9,000 A% 15-year bonds to Rogers, Newman & Tolman, Bos- ton, at 109"47. The following bids received and opened Taney County, Mo.—Bond Call.— Oa Jan. 5, 1901. interest were Jan. : ceased on 6^ bond No. 23, dated Nov. 13, 1883, and in denom- for these bonds on 25, 1901 ination of $1,000. Ropers.Newman & Tolman, Bo8.106'47 I Calais Savings Bank 104*00 109-156 Tensas Basin (La.) Levee District.—Bond Call.—H. R. S. K. May & Co.. Lewiston I Speed, Secretary, has called for payment March 1 at his Securities are dated Feb. 1, 1901, and the interest will be office in Monroe, La., bonds Nos. 51 and 53 of "Series A" and payable semi-annually at the National ShawmutBank of Nos. 10 to 25, inclusive, 27, 31, 32, 43, 45, 46, 48, 49, 51 to 85, Boston. I inclusive, and 88 to 96, inclusive, of "Saries B." The first- Campbell Coanty, Tenn.—Bo«ds Proposed.—A bill pro- named series are dated March 1, 1837, and the last-named viding for the issuance of $100, COO road bonds Is before the ,March 1, 1898. State Legislature. Westfleld, N. J.—Bonds Piirchased.—This township has Carson City, Nev. Bonds Defeated.—At a special election purchased $5,000 of its outstanding 4:}4% sewer bonds, namely, held recently the question of issuing bonds for the purchase $3,000 maturing July 1, 1901, and $2,000 maturing July 1, of the Carson water works was voted upon and defeated. 1907. Bonds have been canceled. Some of the papers have Cedar Rapids, Iowa. Bonds Authorized. —This city has erroneously reported this transaction as a sale by the town- been authorized to issue $100,000 5% lO-year bonds for the ship of an issue of bonds. construction of storm water sewers. Securities will be in — J — — — February 16, 1901. THE CHRONICLE. 351 denomination of $1,000. The date of sale has cot been de- Fort Edward, N. Y.—Bond O^ertncr.— Proposals will be termined upon. received until 12 M., February 28, by W. F. Tasker, Village Chelsea, Mass.—Loom Authorized.—The City Treasurer Treasurer, for $18,000 4% .judgment bonds. Securities are has been authorized to borrow |350,C00 in anticipation of the in denomination of $1,000, dated March 1,1901. Interest collection of taxes. will be payable semi- annually at the First National Bank of Chicago (111.), South Park.—Bonds Proposed.—A bill has Fort Edward. Principal will mature $1,000 yearly on March been presented ia the State Legislature providing for the 1 from 1906 to 1923, inclusive. issuance of $500,000 bonds. If the biil is passed in time the Fostoria, Ohio.—Bond Offering,—Propofialn will be re- question of issuing these bonds will be submitted to a vote ceived until 1 p. M., February 25, by J. M. Scbatzel, City of the people at the spring election. Clerk, for $12,500 4^ refunding bonds. Securities are issued Cleveland, Ohio.— Bonti Q//"eriwflr.— Proposals will be re- under authority of Section 2701, Revised Statutes of Ohio. ceived until 12 M., March 12, by Charles P. Salen, City Aud- They will be dated the day of sale and will mature March 1, itor, for $60,030 4^ 10-year Cleveland;ElBvated Roadway bonds, 1921, Interest will be payable March 1 and September 1 at dated May 1, 1901, and $30,000 4$ 10 year sewer district the Chase National Bank, New York City. A certified bonds, dated April 1, 1901, Securities are in denomination check for $500 will be required. of $1,000. Interest will be payable semi-annually at the Franklin, N. U,—Bonds Authorized.—The City Council American Exchange National Bank, New York City, A cer- has authorized the issuance of $80,000 refunding bonds. tified check for 5% of bonds bid for, payable to the " Treas- Franklin (Pa.) School District.— Bond Election.—A.t the urer of the City of Cleveland," must accompany proposals. coming election this district will vote on the question of All bids must be made on blank forms, which can be obtained issuing $30,000 school- building bonds. from the City Auditor. Frederica, Del.— Bond Bill Passes House. —A bill provid- Colorado Springs, Colo.—Bids— Following are the bids ing for $5,000 fcchool bonds has passed the House of the State received on February 4 for the $190,000 i% 15-30 year (op Legislature. tional) refunding water bonds : Wrant Cily(Mo.) School District.— Bond .E/cciton —This district will shortly hold an election to vote on the question K. H. Rolling & Sons, Host.. 1199.633 00 ReasonKood & Maver. Ci n... 1198,335 oo I99,4(i2 198.'59 6i) N. Harris Chic. . . . 0!) Feoer, Cln.. the J 5 29- year (serial) gold bonds, W. & Co., 198,881 I Uolzman & Co., 190.0OO uo tion is at hand of $100,00 4% bids for which will be received until 12 M., February 28, by As Stated last week, bonds were awarded to E. H. Rollins the Court House Building Commission at the office of the & Sons, Boston, at 105-07. County Auditor. These bonds are in denomination of $500, Colnmbas, 9a. Bond Election, The City Council has de- — dated March 1,1901. Interest will be payable semi-annu- cided to sulDmit the question of issuing $125,000 eanitary ally. certified check for $1,000, payable to Asa Little, sewer bonds to a vote of the people. A County Treasurer, must accompany bids. Concord, M. H.—Lcan Authorized.—The City Council has Hrcenfleld, Ohio —Bids.—Following are the bids received authorized a temporary loan of §50,000 to meet currtnt ex February 6 for the $10,000 4% electric-light and water bonds : penses. 101-01 HiKhlandCo. Bank I N. W. Harris* Co.. Chicago 101-28 Corsicana (Texas) School District.-Bonds Fofed.—This lOffeO W. .1. Hayes & sons, Cleveland. 1 Lamprecht Bros. Co.. Cieve 101-27 district on Januarys voted to issue $25,0C0 school- hou^e K. Kleybolte &Co.. Cincin 101-66 New Ist Nat. B'k, Columbus 101-07 ..101-60 bonds. These bonds, we are advised, will not be issued W. R. Todd & Co., Cincinnati. | until April or May. As reported last week, the bonds were awarded to the Cuyahoga County, Ohio.—Zoan Negotiated—We are ad- Highland County Bank of Greenfield at 101 01, this institu- vised that the commissioners of this county have negotiated tion being the only bidder, it is stated, to comply with the ad- a loan of §50,000 with the American Exchange National vertisement, which required cash for the bonds on day of Bank, Cleveland, at 5%. Loan will mature Feb. 6, 1902. sale. Detroit, Midi.—Bowds Proposed. —A bill has been pre- Groton (Conn.) School District No. l.—Bon.'is Proposed.— district has voted to petition the State Legislature pared for submission to the State Legislature providing for This I for the iESuance of $1,000,000 library bonds. authority to issue $40, OtO bonds. Dickson, Tenn.—Bonds Proposed.—The issuance of water Indianapolis, luA.— Temporary Loan —This city on Feb- and electric- light bonds is being talked of in this place. ruary 1 borrowed $40,000 from the Capital National Bank Dover, Del.—Bond Bill Passes Legislature.—The State of Indianapolis at si interest and a premium of $50. Loan Legislature has passed the bill authorizing the issuance of matures Jane 1, 1901. $4,000 electric- light bonds. Jackson, Tenn. Bond Election.— We are advised that this East Aurora, N. Y.—Bond Bill Passes Legislature.—The city will shortly vote on the question of issuing $50,000 city- Legislature has legalized the isfcuance of assessment bonds hall bonds. of this village. Jefferson County, Tenn.—Bonds Proposed.—A bill pro- East Pittsburg, Pa.— Fo^d O/'erinfif.—Proposals will be vidins: for the issuance of $300,000 road bonds is before the received until 6:30 p. m., February 25, by Joseph H. Preston, Legislature. Chairman Finance Committee, for $55,000 5% bonds. Securi- Lincoln, Neb.—Bond SaZe -On February 11 the Barber ties are in denomination of $500, dated Jan. 1, 1901. Interest Asphalt Co. was awarded $11,500 of the $42,600 5% 110-year will be payable semi annually and the principal will mature (serial) bonds offered for sale on that day at 100-75 and the remaining $31,100 bonds were taken by the American Savings yearly on January 1 as follows : $1,000 in the years 1902 to 1907, inclusive; $1,500 from 1908 to 1915, inclusive; $2,000 Batik of Lincoln at 100-16. For description of bonds see from 1916 to 1921, inclusive;, $2,500 from 1923 to t924, in- Chronicle Jan. 19, p. 151. clusive, Linds^ay, Ont.—Debenture Offerivg.-ProvoB&la will be re- and in 1926; $3,000 in 1925 and from 1927 to 193 ), inclusive. A certified check for $1,000 must accompany pro- ceived until 12 M., February 27, by F. Knowlson, Town posals. Treasurer, for $37,017 14 4i debentures. These securities Ellisyille, Miss.—Bonds Authorized.—The City Council will be re-payable in annual instalments, $15,849 14 in from has authorized the issuance of $15,000 electric-light and one to ten years and $21,168 in from one to twenty years. water-works bonds. Madison County, Ind. Bor.ds Authorized.— The County Evanstou, Ohio.—Bond Sa^e.— On February 11 the $7,433 22 Commigsioners have authorized the issuance of $21,000 4},i% Woodburn Avenue, $21,098 05 Langdon Avenue, $7,743 60 Stoney Creek Township gravel-road bonds. Kerper Avenue 5% 1-10-year (serial) improvement bonds were Manchester, N. H. Loan Authorized.—The City TrenBuier awarded to T. F. McClure & Sons, Cincinnati, at 105. On has authority to borrow §300,000 in anticipation of the col- the same day the $4,523 25 5% 1-10- year (serial) Brooks Ave- lection of taxes. nue bonds were awarded to Seasongood & Mayer, Cincinnati, Marion (Ind.) School District.-Bond Bill Passes House. at 105-18. For description of bonds see Chronicle Jan. 12, —House bill No. 84, authorizing library-building bonds, has p. 99. passed the lower body of the State Legislature. Everett, M&9S.— Bonds Proposed —This city seeks legis- Massachusetts.— 7'e7n/)o?-a?-?/ Loan. —On February 11 a $1,- lative authority to borrow $100,000 outside of the debt limit 000,000 temporary loan was awarded to the National Shaw- for sewer purposes. raut Bank of Boston at 2-96:? interest per annum. The re- Fall River, Mass.—Bonds Authorized.—The issuance of maining $1,000,000 offered on that day was not awarded, as $133,000 highway, $25,000 sewer and $20,000 water-extension the bids were considered unfavorable by the State authori- bonds has been authorized. These securities will be issued ties. Following are the bids received : in denominations of 2 $1,000 or multiples thereof, and will Nat. Shawmut Bank.. $1.000,000® -98* 1 Bond & Goodwin |2.O00.000®S-10t Blake Bros. 8,000,0«0@8o8« . . . I,000,000(a3-155 bear interest at the rate of 3^^^. The highway bonds will & Co I Kdserly « Crocker. be dated Feb. 1, 1901, and will mature Feb. 1, 1911; the Loan matures Nov. 15, 1901. sewer and water bonds will be dated April 1, 1901, and will Memphis. Tenn.—Bondi Bill Passes Legislature.—The is- mature April 1, 1931. suance of $350,000 park bonds is provided for in a bill re- Bond Offering.—PropoBols will be received until 10 a. sr., cently parsed by the Legislature. Jebruary 20, by Chas. P. Brightman, City Treasurer, for the Merrill, Wis.—Bonds Authorized.—The City Council has $133,000 3%% bonds mentioned above. Securities are in de- authorized the issuance of $40,000 high-school-building and nomination of $1,000, dated Feb. 1, 1901. Interest will be $12 000 bridge bonds. ^myable semiannually by check. Principal will mature Middlebnry, Yt.—Bonds Authorized.—This town has been Feb. 1, 1911. Accrued interest is to be paid by purchaser. autnorized to issue $50,000 4i water works bonds. Securities certified A check for $2,500 must accompany proposals. will be in denomination of $1,000, dated Miy 1. 1901. ^In- Findlay, Ohio.—Bond Sale.— On February 7 the $16,000 i% terest will be payable in May and November in New York bonds of sub Distritt No. 1 of Sewer District No. 2 and the or Boston. Principal will mature May 1. 1941, subject to $9,000 i% bonds of Sewer District No. 3 were awarded to W. call after May 1, 1931. We are advised that these securities J. Hayes & Sons, Cleveland, at 102-40— an interest basis of will probably be offered for sale about April 1. about S14%, For description of bonds see Chronicle Jan. 12, Middletown, Conn.—Bonds Proposfd—X bill will be in- p. 99. troduced in the State Legislature authorizing the issuance of — " — ——— — 352 THE CHRONICLE. fVoL. LXXII. $50,000 hospital bonds; also |53,000 refunding and $70,000 department bonds, An ordinance providing for $150,000 city-improvement 'd%% 20- year bonds. sewer bonds has also been introduced and has been passed Michigan.— 4c Bills which Have Passed Both Senate and House. $1,000 ^ each. The date of sale is yet to be determined Bay County-Authorizing $100,000 road bonds. upon. Babaga County— H. B. no. 167, legalizing certain bonds. Newbern, Tenn.—Bond Bill Passes Legislature.—The Newaygo Co.—H. B. No. 31,ilegaliz1ng bonds. Garfield Township, State Hancock School District No. I—H. B. No. 42, authorizing $15,000 Legislature has passed the bill providing for the is- bonds. suance of $5,000 electric-light and water bonds. Harbor Springs-S. B. No. 64, authorizing $10,C00 electric-light New Canaan, Conn.—Bonds Proposed. —This place seeks bonds. legislative authority to issue $30,000 bonds. Mecosta— H. B. No. 185, legalizing $3,000 bridge bonds. New Baltimore— H. B. No. 201, authorlzlDg electric light bonds. New Castle County, Del. Bonds Proposed.—The County New Baltimore—H. B. No. 2tO, legalizing $2,C00 electric light Levy Court has passed a resolution asking the|State Legisla- bonds. ture for authority to issue $170,000 four per cent bridge South Arm Township—H. B. No. 6, authorizing bonds. bonds. O^ering.— Proposals will re- Middletown, Ohio.—Bond be Newfleld, Tompkins County, N. Y.—Bond Safe.—On until 12 M., March 4, by Frank Stevens, City Cierk, ceived March 1 this town will issue $45,000 S}4% refunding railroad- bonds : for the following aid bonds. Principal will mature $1,000 in 1902 and $2,000 $9,790 5% street-paving bonds, in denomination of 1979. 6,050 b% street assessment bonds, in denomination of $505. yearly thereafter until paid. We are advised by Mr. W. H. 417 5* sev, er -assessment bonds, in denomination of 41 70. Van Oatrand, Town Supervisor, that these bonds have been Securities are all dated Feb. 1, 1901. Interest will be pay- sold on a S}4% basis. able semi-annually and the principal will mature one bond New London, Conn. Bonds Proposed. —Permission is asked of each issue yearly. A certified check for $100 will be re- of the State Legislature to issue $300,000 water and $100,000 quired. school bonds. Milwaukee, Wis. Bonds Authorized.—The Common North Adams, Mass Loan Authorized. —The City Coun- Council has authorized the issuance of $160,000 street-im- cil has authorized a loan of $11,000 to complete school build- provement, $50,000 park, $250,000 school and $100,000 fire- ings. NEW LOANS. INVESTMENTS. INVESTMENTS. j^so,ooo N. W. HARRIS & CO., CO., WASH., BANKERS. GARFIELD New York. Chicago. BOSTON. OENISON, PRIOR & CO. COURT-HOUSE BONDS. Deal in Bonds oj DEA.IiBR8 Issue Travelers' Railroad, Street Rail- IN Notice is hereby given that the Board of County way, Oas and Electric Commissioners of Garfield County, the State of Letters of Credit Light Companiet' Washington, will receive sealed bids for the sale of Oovemmtnt and Mu- High Grade Bonds. AVAILABLE IN ALL nicipal Bonda Botight bonds in the sum of Twenty Thousand Dollars, and Sold. issued for Court-House purposes. PARTS OF THE WORLD. Quotations furnished for purchase, sale or exchange , SEND FOR LISTS. Said bonds are to be in denomination of one St., New York. thousand dollars each and to run for twenty years, 31 Nassau ^^"''^KuumZT'''^Building) with one-half thereof to be issued May Ist, 1901, and Cable Address :—SABA. 8 Exchange Place, Boston. the remaining half on the first of September, 1901. Interest to be paid annually and both principal and 131 Enclld Avenue, Cleveland. interest to be paid at the office of the Treasurer of Investment Securities Garfield County, in the City of Pomeroy, Washing- ton. FOR Said bonds are to be issued in strict compliance with a statute of the State of Washington entitled: SAVINGS BANKS and TRUST FUNDS "An Act authorizing and empowering the organized Perry, Coffin & Burr, Counties of the State of Washington to contract In- b% BONDS A SPECIALTY. debtedness and to issue bonds for funding the same and declaring an emergency," Approved March EDW. C. JONES <& CO., INVESTMENT BONDS, 21st, 1890. - 1 NASSAU STREET. Bids will be received up to noon March 4th, 1901, NHW YORK. - . - 112 80. FOURTH ST. and must be addressed to the Auditor of Garfield PHILA., 6o State Street, County, Washington, and marked "Bid on Court- House bonds," The Board hereby reserving the right to reject MUNICIPAL BOSTON. any and all bids. J. A. STRAIN, AND Auditor and Ex-Offlcio, Clerk of Board. Public Service Corporation MUNICIPAL BONDS. Securities Netting from S}4 to Q% BONDS. ALWAYS ON HAND. Send for our Investment Circular. E. H. ROLLINS & SONS, OUKE M. FARSON, Banker, MUNICIPAL, RAILROAD BOSTOSf. "5 Dearborn Street, Municipal Bonds. CHICAGO. February Investments, Denver. San Franeisco. AND CORPORATION BONDS. James N. Brown & Co., CO., BANKERS, FARSON, LEACH & Blodget, Merritt & Co., No. ea CEDAR STREET, NEW YORK. CHICAGO. NEW YORK. BANKERS, Dealers in Covernment, Municipal, Rail* road and Corporation Bonds. 16 Congress Street, Boston. intehjest allowed on deposits. Orders executed on N. Y. Stock Exchange. 15 Wall Street. New York. STATE, CITY & RAILROAD BONDS MUNICIPAL BONDS. SOUTHERN AND WESTERN E. C. Co.. SECURITIES. Boiids and InTestment Securities Stanwood & BANKERS, D. H. LIVERMORE, TO NET FROM 3 TO ti%. CORRESPONDENCE INVITED. SUCCESSOR TO 121 Devonshire Streets ROSENBERGER & L.IVERIVIORE HARRY B. POWELL & CO., 31 NASSAU STREET, - NEW YORK WOODSTOCK, VERMONT. BOSTON. — —— February 16, ISll.j THE CHKONICLE. 353 North Carolina.—-.dc^s of the State Legislature,—We give authorized, will be dated March 1, 1901, and the interest will below the status of various bond bills which have been under be payable semi-annually. discuesion in the State Legislature: Paterson, N. J.—Bond Offering.— PTopoaaila will be re- Bills Intkoduckd. ceived until 2 P. M., February 28, by the Committee on Elizabeth Citt—Authorizing water and Bewor bonds. Finance of the Board of Aldermen, John Johnson, Chair- Forsyth Co.- Authorizing funding bonds. man, for 1150,000 4^ street-improvement bonds. Securities Authorizing bridge bondB. Franklin County— in denomiration of §1,000, dated March 1, 1901. Interest bonds. are Halifax—Authorizing annually and principal Harnkt Co.- Authorizing bridge bonds. will be payable semi- the will mature McIJowKLL Co— Authorizing court house bonds. March 1,1911. A certified check for 5;? cf the amount of M URFRKEHHORO TOWNSHIP.— Authorizing funding bonds. bonds bid for, payable to the City Treasurer, must accom- Pilot Mountain- Auihorlzing bonds. WiLKESiiOKO—Authorizing refunding bonds. pany proposals. Wilson County—Authorizing court-house bonds. PIqaa, Ohio.—Bond Election.—An election will be held Bills Passed by IIousb. April 1, 1901, to vote on the question of issuing water-works- Dunn, Harnett Co. Authorizing Improvement bonds. improvement bonds. Franklin, Macon County— Authorizing bonds. Poplar Bluil, M.O.— Bond Election.— At the coming elec- Halifax Co.—Authorizing funding bonds. tion the question of ist-uing |3,000 city-hall and jail bonds EiOH PiiiNT—AuthorizinK bonds. Waynesville- H. B. authorizing water and sewer bonds. will be submitted to a vote of the people. Bills Passed by Senate. Port Huron, Ind. Bonds Proposed, —Senate Bill No. 250, provides for the legalizing of Concord- Authorizing the issuance, of $12.5,000 bonds. recently introduced, certain DuBiiAM—Authorizing the if suance of market-bouse bonds. bonds of this town and permits them to be rt funded. GUBKNviLLE— S. B. authorizing bonds. Portsmouth, Ya.—Bond Rosean County, Minn.—Boads Proposed.—This county & Co., Toronto, at a small premium. For description of se- seeks legislative action to enable them to issue $46,000 fund- curities see Chronicle Jan. 26, p. 204. ing bonds. Stafford Springs, Conn.—Bowds Proposed. —A bill is be- RassellTille, A\a.—Description of Bonds—The $12,500 fore the State Legislature providing for the issuance of school bonds recantly authorized will be issued in denomiaa- $100,000 water and $17,000 funding bonds. tion of $100. Interest will ba at the rate of Q%, payable Stamford, Conn.—Bond Sa^e.— On February 15 the $35,000 annually in gold in Birmingham. Priucipal will miture in d}4% 20-year gold sewer redemption bonds and the $60,000 thirty year:?, subject to call after ten years. The date for 31.^^ 20 year gold funding bonds were awarded to E. H. Gay he sale of these bands has yet to be determined upon. & Co., Boston, at 105"71—an interest basis of about S'lim. RatherforU,N. J,—iJond Bill Passes Legislature.— Legia- For description of bonds see Chronicle January 26, 1901, lative sanction has been given this borough to issue $10,000 p. 204. funding bonds. Syracuse, N. Y.—Bond Sale.— We are advised that the St. Bernard, Ohio.—Bond Sale.—Oa February 7 the $480 40 $30,000 H voting-machine bonds recently authorized have 5% 1-10-year (serial) sidewalk bonds were awarded to the Ger- been issued direct to the Voting Machine Co. of Jamestown, man National Bank, Cincinnati, at 105*03. For description N. Y., in payment for the machines. For full description of of bonds see Chronicle Jan. 13, p. 102. these securities see Chronicle Jan. 12. p. 103. Salem, Slasa.— Temporary Lonn.—Oa February 7 this city Taunton, Mass.—Bond SaZe.— On February 8 $15,000 4% awarded a temporary loan of $50,000 to Blake Bros. & Co., water bonds were awarded to N. W. Harris & Co., New Boston, at d% and $1 premium. Following bids were re- York, at 113-155— an interest basis of about 3-08^. Following ceived are the bids N. W. Harris & Co., New York.. 113-155 B. H. RoUlns & Sons. Boston... 112-646 Blake Bros, ft Co. (tl premium). 3% Eliot Nat. Bank (t2 premium).. .3*032 Perry, Coffin & Burr, Boston. ...ll.'J-Ol Kstabrook & Co., Boston 112-67 Sdgerly i Crocker, Boston S% Blodget Merrltt & Co., Boston. . .3*09^ Boston 1 12-93 L. Barnum Co.. New York . 112-26 Parkinson & Burr, Boslou 3'029^ Blake Bros. & Co., & Jose Parker* Co.. Boston 112-87 W. J. Hayes & Sons. Cleve 112-00 Co.. Boston 112-83 R. H. Rines & Co., Boston 11193 Loan was made in anticipation of the collection of taxes Adams & C. S. Cummings & Co.. Boston.. 112-79 W. R. Todd & Co.. New York...lll-00 and will mature Oct. 19, 1901. R. L. Day & Co., Boston 112-679 Sallna, Kan. Bond O^ermg.—Proposals will be received Securities are dated Jan. 1, 1901, and will mature Jan. 1, at any time by O. W. Godfrey, City Clerk, for $11,000 il4% 1920. 1-10-year (serial) sewer bonds. Securities are in denomiua Thessalon, Ont. Debenture Election,—This city will prob- tion of |1,100, and the interest will be payable in New York ably vote during the coming summer on the question of •City. issuing $5,000 5% 30 year electric- light-plant debentures. Savannali (Mo.) School District.—Bond Election.— Oa Thorn aston, Q,a.—Bond Election.—On February 21 [this February 18 the question of issuing $16,000 school-house town will vote on the question of issuing $10,0C0 electric- bonds will be voted upon. If authorized the bonds will be light- plant bonds. in denomination of $1,000 and will mature one bond yearly, Toledo, Ohio.—Bonds Authorized. — The Park Commis- beginning February 1, 1903. Interest will be at a rate not sioners on January 18 voted.to issue $75,000 bonds for boule- exceeding 5^, payable semiannually. vard purposes. Schenectady, N. Y.—Bond Bill Passes Senate.—The Senate Topeka, Kan.—Bond 6'aie.—The $16,433 13 5^ improvement has passed a bill providing for the issuance of fire-depart- bonds described in the Chronicle on February 2 have been ment bonds. sold to the State Savings Bank of Topeka. Slmcoe, Ont.—Debenture Sale.— On February 2 the $10,000 Tnllahoma, Tenn.—Bond Bill Passes House.—The bill 4% consolidated debt debentures and the $2,444 4^^ local-im- providing for the issuance of $10,000 park bonds has passed provement debentures were awarded to George A. Stimson the House. MISCELLANEOUS. MISCELLAMEOUS. MISCELLANEOUS. THE GRAND PRIX. Geo. D. Cook Company, THEAUDirCOMPANf INVESTMENT SECURITIES. OF NEW YORK. 238-240 La Salle Street, Queen Building, New York Life Bldg., CHICAGO. Cedar & William Sts, La Salle & Monroe Sts. Broadway. New York City. Chicago. New York Office. 52 WAS AWARDED AT THE PARIS EXPOSITION TO An Audit by this Company J. G. WHITE & CO., WHITING'S STANDARD PAPERS. is a Guarantee that They are the only American papers which have ever received this—the highest honor that can be Enfijineers, Contractors, the perfect 1. The books have been closed in a conferred. It means they are most made. Insist on having them for your fine corres- proper manner. pondence and your office stationery. Are you using 29 BROADWAY, N. Y. Whiting's IiROger Papers in your Blault -Books? Samples and booltlet free. 2. Any carelessness or irregularities Investigations and Reports on have been discovered. WHITING PAPER COMPANY, Electric Railway, Gas, Electric hol.voke, mass., S. The simplest modes of book-keeping Light, and Power Transmission have been suggested. And 150 Duane Street, New York. Properties for Financial Insti- tutions and Investors. 4. If the books do not present a true Fred. H. Smith, commercial situation, the fact Electric Railways, Electric Light and STOCK BROKER, 8 BROAD ST., N. Y. Electric Power Plants Financed will have been pointed out. Member N. Y. Con. Stock Exchange. Designed and Built. Inspections of books are made without STOCKS, BONDS, GRAIN. margin charge, for the purpose of quoting Bought, sold and carried upon moderate COMMISSION I-IOTH. prices. Terms are reasonable because Book of Railway Statistics upon Application. CLINTON GILBERT, of the despatch with which audits are Tel. 8385 Cort. Kstabllshed IWS 2 l¥all Street, New York. made and reports are furnished. Man- agerial oversight is given all to ac- BANK AND TRUST CO. STOCKS. counting. WM. FRANKLIN HALL INVESTMENT SECURITIES. Accountant, TRANSimSSION ROPE. SECURE BANK VAULTS. ' wlme^SUeit":' BOSTON, MASJi Books audited. Examinations and InTOstig* CORDAGE tions conducted with the utmost care and efficiency, s m J i m h nhx SPECIALTIES. Haskins & Sells, GENUINE li A E Certified Public Accountants, 9fELDED CHROME STEEL AND IROK &oand and Flat Bars and 5-ply Plates and Anglei Ho. 80 HROJLD ST., jrXW TOBM.. FOK SAFES, VAULTS, &C. THE AMERICAN Cannot be Sawed, Cut, or drilled, and positively MANUFACTURING Burglar Proof. Patterson, Teele & Dennis, CHROME STEEL WORKS, COMPANY, CERTIFIED PUBLIC ACCOUNTANTS, Kent Ave. Ceap and ^oper St*., ea WA-LIi BXRHBX, KSW YORK, 30 Broad Street, • New York. Sole ManTers In the U. 8. BItiOOIi.L.VI« N.Y. —J — — — February 16, 1901. THE CHRONICLE. 355 Union City, Tenn.—Bowrfs Proposed.—Refunding bonds constructing the "Big Chippewa" ditch, No. 106, were to the amount of |60,000 will be issued if the bill recently awarded to the New First National Bank of Columbus at are the bids passed by the State Senate becomes a law. 100'26. Following ; CO Re'Jer. Newlst Nat. Bk.. Columbus... $6,776 i Holzman & Co., Clncln.lfi.^eo 00 \irgin\a.—Acts of the State Legislature.—We show below 6,'71 W. J. HayeH & Sons. Clcve... . 50 S. A. Kean, ChicaKO 6,780 tO the status of various bond bills which have been under dis- K. Kleybolte &Co.,Clncin 6.7H7 tO cussion in the State Legislature: Securities are in denomination of $440 and |.500, dated Bills Introduced. Jan. 1, 1901. Interest will be payable semi-annually and the ACG08TA County—Authorizing conrt-lionee warrants. principal will mature $1,440 yearly on January 1 Irom 1903 Marion— Authorizing bonds. to 190.5, inclusive. MoNTooMKKY CO.—Au thorlziDg road bonaa. Wayne Township, Ind. Subsidy Defeated.— This town- Bills Passing House. ship bas voted against the proposition to give |100,OCO to the Abingdon (TowN)-Authorlzlng water, gas and electrlo-Hght bonds. Wabash Railroad to construct a line from Butler and to District.—Authorizing refunding bonds. Oatali'a School locate the company's shops in Foit Wayne. Elizauktii City County— Authorizing $i 0.000 school bonds. Franklintown School District.- Authorizing bonds. Weir, Kan. Bonds Proposed. —This city seeks legislative Williamsburg—Authorizing water-works and flre-department authoiity to issue $60,000 light and water-plant bonds. bonds. „ „ Bond EUctio-a. An election will be held Bills Parsing Senate. Welser, Idaho.— — February 18 to vote on the question of issuing $55,0C0 mu- Abingdon—Authorizing refunding bonds. Charlotte County- Authorizing bonds. nicipal bonds. If authorized, eecarities will be issued in de- Chase City (Town)—Authorizing bonds. nominations of |100, $5(0 and .'$1,0C0, and will mature in Covington— Authorizing water bonds. twenty years, subject to call after ten years. Interest will Winchester— Authorizing bonds. be at a rate not exceeding 6^. payable semiannually. Bills Passing Both House and Senate. We9tbrool£, Me. Loan Authorized. loan of $15,060 in Big Stone Gap School District-Authorizing school bonds. —A Clintwood.—Authorizing bonds. anticipation of the collection of taxes has been authorized by Fredericksburg—Authorizing bonds. the Council. NoRFOiK- Authorizing $76,OoO jail, $15,000 Improvement and West Palm Beach, Fla.— ifond Qifering.— Proposals will $25,000 school bonds. Page County—Authorizing refunding bonds. be received until 12 m,, March 9, by Wilmon Whilldin, Mayor, Rockingham Codnty—8. B. No. 5, authorizing bonds. for $5,000 6;? 10 20 year (optional) improvement bonds. Se- Suffolk (Town)—Authorizing sewer bonds. curities will be issued in denominations of $100 and upwards, Warren County, Miss.— Loan Not Awarded.—V7e are ad- to suit purchaser. Interest will be payable annually at the vised that action on the bids received February 4 for a loan office of the Town Treasurer. The above issue will represent of 840,000 was indefinitely postponed. the total indebtednees of the town. The assessed value for Warwick, N. \.—Bond Bill Passes Legislature. —The State 1900 was $130,603—about one-third actual value. Legislature has passed a bill legalizing school bonds of this Wood County, ys\9.—Bonds Proposed.—K bill recently in- town. troduced in the State Legislature provides for the issuance of Waterbury, Conn. Bonds Proposed.—The question of $60,000 bonds. authorizing the iesuance of $200,000 sewer bonds is under Woonsocket, R. I.—Bonds Proposed. — Bills authorizing consideration in the State Legislature. the issuance of $50,000 water-works improvement, $2u0,000 Bonds Defeated. —The House of the State Legislature has sewer and .$^00,000 funding water bonds are before the State voted adversely on the bill providing for the issuance of Legislature. $300,000 paving bonds. Worcester, Ma»B.— Temporary Loan.—This city on Febru- Wayne County (P. 0. Wooster), Ohio.—Bond Sale.— Oa ary 1 borrowed $200,000 Irom F. S. Mosley & Co., Boston, at February 7 $5,760 4.% bonds issued to pay part of the cost of 3^ discount. Loan matures Oct. 1, 1901. MISCELLANEOUS. MISCELLANEOUS. 1850. 1901. The United States Life READY FEBRUARY 18. Insurance Co. /JV THE CITY OF NEW YORK. Geo. H. Burford, President. THE FINANCIAL REVIEW. FITSTAlSrCE COMMITTEE: ANNUAL. Geo. G. Williams, pres. chem. Nai. Bunk - John J . Tucker, - . Buuaer E. H. Perkins Jr., Pr.lmp.<£Trad Nat Bit. A YEAR BOOK OF FINANCIAL INFORMATION—282 PAGES. James R. Plcm, .... Leather Active and sueros.sfill At/eiits tvho desire Includes a copy of the January issue of the Ijjvestoks' Supplement. to rnahe 1)1JtJJCT VONTliACTS with this Also five-year of 'well-eiitHhiisli ed n >ul prof/ressive Comxmny, a monthly range Stock and Bond Quotations. thereby securing for themselves not only an immediate return fur their work, but also an inci'easinfi tinniial income commensur- BOUND IX CLOTH i$2 OO ate with their siireess, are invited to com- municate with ItlCIIAltlt E. COCHRAN, Xhitd Viee-1'resident, at the Company's B. PUBLISHERS, Office, 277 liroadway, Neiv York City, WILLIAM DANA COMPANY, AssetN, over $ %0U0.000. Pine Street, Corner Pearl Street, Ne^v York. Insurance in Force, over $40,000 000. ASSETS Augustus Floyd, The Mutual Benefit 83 PINE STREET, NETT YORK, life insurance co.. newark. n. j. DBALBR IN President REALIZATION CO., AMZI DODD, . _^ . . tiOCAL INVESTMENT SECURITIES Assets (Market Values) Jan. 1, 1«01....t74.3li.4r8 25 CITY KR. AND GAS CO. BOND8. Liabilities t;8.1N-.,l03 84 Ashland Block, Chicago, Surplus (N. J. and N. Y. SUndard).... 6.1^5,364 91 MUNICIPAI. BONDili. THE NEW POLICY CONTRACTS 142 So. Fourth St., Philadelphia, Fred. M. Smith, OF THE Will buy the assets of estates 70 SOUTH STREET. MUTUAL BENEFIT in process of liquidation, any- Contain AUBIIRIW, NE1¥ YORK, Special and Peculiar Advantages where in the United States. in the Auctioneer. Appratner and Nesotlator which are not combined POLICIES OF ANY OTUKR COMPANY Makes a specialty of solUnif all kinds of Securities bv Ai'C'l'lON. Stocks and Bonds thoroughly ad- vertised will briuK buyers when It is known tne biuheHC bidder is the fortunate buyer. Supplement File Cover. Municipal and Corporation Bonds To net the Investor We have a new File Cover for holding the CHBOX- Wisconsin jtriDK file Similar t* 3 to Trust Co. ICLK SUPPLEMENTS. It Is a S% Per Cent. but adapted ITIIL.WArKEE, WIS. the one used for fllinjj the Chbomclk, Lists Benton application. Capital (Fully Paid), • • $250,000 especially for the Scpplemexts, by mail. W. J. HAYES & SONS Transact a General Trust Business. Price, 50 cents, or 68 cents sent 111 ConKrnna OFFICERS: street, Bonton. WILLIAM B. DANA COMPANY. Chamber of Commerce Blds 356 THE CHRONICLE. fVou LXXIl, 'Sviuktxs awd Sr0liers ®ut nt ^jettr "Icirfe. CHICAGO. CHICAGO. PHILADELPHIA. Edward B. Smith & Co. Bartlett, Frazier & Co., BANKERS, Schwartz, Co., Dupee & The Bourse, 5(h Street Phil lidelptaia. STOCKS AND GRAIK. 83 Cedar Street, cor. Sfocks, Grain and Provisions, BroadwaF, New York. Members New York and Phila- Stock Exchanges. 9 Board ot Trade, WESTERN UNION BUILDING CHICAGO. CHICAGO. E. W. Clark & Co., BANKERS AND BROKERS, T IWew Street, New York. No. 139 South Fourth St., PRIVATE WIRE8. PHILADELPHIA. Transact a general banking business. Allow In- terest on deposits, Members of the Philadelphia and New York Stock Exchanges, and connected by private wire with New York. A. O. Slaughter & Co., W. G. Hopper, h. S. Hopper, L. Members of Philadelphia Stock Exchange. EDWIN LOBDELL, BANKERS AND BROKERS, Stocks and Bonds, 113-117 LA SALLE STREET, Wm. G. Hopper & Co., STOCK AND BOND BROKERS, 'The Rookery," CHICAOO, ILL. CHICAGO, ILL. 28 Sonth Third Street, Philadelphia MEMBER NEW YORK STOCK EXCHANGE. Members New York Stock Exchange, ChicaKO Investments receive our special attention. Infor- mation cheerfully furnished regarding present CHICAGO STOCK EXCHANGE. Stock Exchange and Chicago Board of Trade. holdings or proposed Investments. CINCINNATI. PITTSBURG. John H. McQuillen &Co. Henry Sproul BANKERS AND BROKERS, W. E. Hutton & Co., & Co., PITTSBURG, PA. 104 SOUTH FOURTH STREET. CINCI^nVATI, OHIO. MEMBERS PHILADELPHIA. BROKERS AND DEALERS IN ALL YORK Members Philadelphia Stock Exchange, NEW ) PHILADELPHIA / Stock CINCINNATI AND OHIO SOUTHERN. SECURITIES. CHICA6}0 f Exchanges. PITTSBURG Sons, Established 1802. 3 William Wilson & " AND Wilson, Colston & Co., 1867. Irwin, Ballmann & Co.j CHICAGO BOARD OF TRADE. Wilson, Colston & Co., Brokers and In Members of Baltimore Stock Exchange, Dealers N. Holmes & Sons, BANKERS, BANKERS, 316 East Baltimore Street, Baltimore. Cincinnati Bonds and Stocks, Investment and Miscellaneous Securities a speo- PITTSBURG, PA. laity, and whole issues handled. 37 East Third St.. CttnoinnatI, Ohle. Exceptional facilities for dealings in all classes of Southern Bonds. Loans on Collateral Securitlei CORRESPONDENTS negotiated. Seasongood & Mayer, Bank of New York, N. B. A. . W, Corner Third and Walnut Streets, First National Bank of Philadelphia. WYNDHAM BOLLING, CINCINNATI, OHIO. BANKER AND BKOKER, MUNICIPAL BONDS. PITTSBURG, PA >ST.&BLI8HliD 1871. ItICiI9IO]\D, VIRGINIA. Hlsrh-Grade City, County, Town and School Bonds lasaed in leading prosperous States of the Cnlon, Securities, especially adapted for safe and permanent invest- Southern ment lor Estates and Trust Funds. Whitney & Stephenson, Virgfinia Bonds, BANKERS AND BROKERS, Virginia*Carolina Chemical Co. stock. PACIFIC COAST. No. 209 FOURTH AVENUE. Reference— Mechanics' National Bank. New Yor . Oldegt Pittsburg Members N. Y. Stock Exchange. HaNRT ST. GOAR, EDWABD POLLITT Members Stock and Bond Exchange. T. Mellon & Sons' Bank, Davenport & Co., BANKERS AND BROKERS, Edward Pollitz & Co., PITTSBURG, PA. STOCK AND BOND BROKERS, RICHMOND, VIRGINIA. Hawaiian Sugar Stocks a SpBoiaiiy ESTABLISHED 1860. SENERAL BANKING, COLLECTIONS, Correspondence solicited and information fur- 403 California Street, nished about Southern State, Municipal and Rail- SAN FRANCISCO, CAL,. INVESTMENTS. road Investment Securities. Reference—Bank of New York, N. B. A. ST. LOUIS. Ladd & Tilton, Mottu, de Witt & Co., BANKERS, Whitaker & Company, Successors to PORTLAND, OREGON. WHITAKER & HODGMAN, Bankers and Brokers, ESTABLISHED IN 1859. BOND AND STOCK BROKERS, Transact a General Banklnar Business. NORFOLK, VA. 300 Nortb Foartli Street, COLLECTIONS Given Special Attention. ST. EOUIS. SOUTHERN INVESTMENTS. Richardson & Clark, John W. Dickey, Oliver C. Fuller & Co., BANKERS, BROKER, INVESTMENT 25 Exchange Street, Providence, R. I. BANKERS, AUGUSTA, GA. MIL^VAUKEE, \* IS. Transact a general banking business. Bonds, DEALERS IN Stocks and Local Securities. Commercial Paper bought and sold on commission. Private wires to SOUTHERN SECURITIES. Municipal, Railroad and Corporation New York, Boston and Philadelphia BO]X33S. ST. PAUL. A. G. Becker & Co., [ INOOBPORATED. A. Strassburger, ] Chas. H.F.Smith & Co., INVESTMENT SECURITIES, STOCKS AND BONDS BROICER. COMMERCIAL. PAPER, STOCKS, BONDS AND GRAIN, Southern iNVEsrr^ENT Securities. Pioneer Press Bldg., ST. PAUL, MINN Members of New York Stock Exchange MONTOOMEinT, A.I.A.. S. W. Cor. Monroe & La Salle Sts., Chicago, 111. Members of Chicago Board of Trade.