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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, November 11, 1907, Image 10

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Bankers and Brokers.
SSJSOHSD BONDS
at present prices are
unusually attractive
for permanent in -
vestment. Ref
erence is invited to
the quick recover
ies In prices of good
bonds following: the
crises of *90, '93
and *96. Our knowl
edge of values is at
the service of in
vestors, inquiry in
vited. *
&W.HALSEY&GO.
BANKERS
49 Wali St., New York
Piiiiedclphi* CK,c»jo San Fra.ncitco
William P. Bonbrigh! & Co.
BANKERS.
MEMBERS NEW YORK 6TOCK EXCHANGE.
lew York, London, Colorado Springs,
24 Broad St. 16 George St., Colorado.
Mansion House, E. G.
ELECTRIC POWER, RAILWAY and MUNICIPAL
BONDS
TREATISE ON OPTIONS.
Mr. Arthur Cramp, late City Editor of The Tines,
described -Options" as
"The most scientific and prudent way of
cperatlng on the Stock Exchange."
This system, although Trry popnlnr on th* Continent
Mill la America. l« not «o well known amongst In
renters a* its merits JuMlfy.
\\r have Juat published ■ new Tr««tHe on (bl*
•übject, which will be sent post free on aj >Ucatlon te
'rhe Secretary.
London^ Paris Exchange, Ltd.
BANKERS.
Basfidon House, Bank,
London, England.
Or from any of Its Branch?*.
New York City
Bonds
N. W. HARRIS & CO.
BANKERS
Pine Btreet, Corner William
NEW YORK
R». L. DAY & CO. ,
BANKERS.
«5 CONGRESS BT^ 87-48 WAIT, ST..
Boston. Km York.
NEW YORK CITY BONDS
Exempt from State, County
and City Taxes.
NKW ISSUES
NEW YORK CITY
6% BONDS.
PRICB CFOX RBQCEBT.
Tele. 6615 Broad. BAXKESIS. 37 WaU St.
UNION TYPEWRITER CO7 STOCK.
WK I^LLIS MERRILL.
419 Prcd-ace Exchange.
Dividend Notices.
THE PENNSYLVANIA RAILROAD OOHYAHT.
Philadelphia. November 1, 1907.
The Boar'l of Directors has this ,iay declared a
PEMI-ANNUAL DIVIDEND of THREE AND ONE-
IfALF PKR CENT. <$1.75 per sharei upon the rapiral
Htock of the Company, payable on anfl after November
30. if>O7. to Ftockholdf-rs as repiet.-r^d upon the hooks
of the Company at tiie clote of business November 4.
1907.
CHECKS will be malied to Ftockholders Trho have
filed Permanent Dividend Orders tit thU offlco
HENRY TATNALL. Treasurer.
Financial Meetings.
MANHATTAN RAILWAY COMPANY,
195 Broadß-a.\.
N. York. October 7th. 1907.
The ers'ial meeting; cf the sh«r*ho'.lerb of tha MAN
HATTAN RAILWAY COMPANY will be held at the
Compar.v'B office, No. 1&5 Broadway. Manhattan Borough
New York City, cu V.edresday. Waveaaber 13th. at 12
o'clock noon.
A Board ot Directors for the ensuing year Is to be elect
ed, and three Inspectors of K:ection.
The transfer bonka will bo closed on Saturday, Otrber
l»tii, at 12 o'clock noon, and will be reopened on Thurs
«ay. November 14th, at 10 o'clock A M
n _ „ Tt^ r GEORGK J. GOULD. President.
D. W. McWILLIAMS. Secretary.
GOSHEV RAIMin.U) rOMPAXV.
ETOCKHOMjERS' MEKTIXG
J™* nualn uaI mr-ftlng of stockholders of the Ooeh«n
Railroaa Company for the election of Directors and
POT tr.<- transaction of njch other huslnf-s* as may prop
erly come hffore the meetlnjr. will be held nt the office
af the » ompany. In Room 1«18. No 11 Broad way, N,w
"rk. on Tuesaaj-, December :;. i;)07 at 0 o'clock A M
DAVID BOSMAX, Becretarr-
\DVEKTIBKMEXTB and subscriptions for The Tribune
J V received at th»-ir I'rtcrw-n Offlce. So 1364 Broadway
between 36th ani a"th ats.. pntfl » o'clock p nj A-lver
tis*m'_ntB received at ih«> toUowinp; bran.-li offl «s at
repjiar office rates until 8 o'clock p. m.. viz • 284 Bth
Stre . r. e. <or. 23d st. : 153 6th a\f;.. cor. 12th et. ; V»2 Kast
l^h «t.; 2T.7 West 42-1 ft.. betw --n 7th and Bth avee ■
•JK?. West 125th at.; 1338 Sd av«. between 76th and 77th
*ts.; If»2fl 3d ave.. near fllst 6t ; 1708 let avc. near Wth
■ti jr.7 East 12f,th St.: 758 Tremont ave.; 050 2d ave..
end any American Dletrlct Telegraph offlce.
IN THE PETROLEUM FIELDS.
The newa from the lower Southwest last wt-ek
was far from important, although there was t.ome
interest centring in the neighborhood of tho Lohr
fai m, In Aleppo Township. Greene County, Penn.
A good deal of hope had been built up on thin dis
trlcti but the recent developments have made the
uiillusk anything but encouraging, as several wells
have been ftnlshed in the neighborhood of the
I^ohr gusher and not one of them has so far been
anything like a success. Beveral of them have
proved absolute failures, whllo others have been
of a most mediocre character. But little is ex
pected of the advanced drilling, and it is only a
<;.anc« that anything like an extension will be
discovered, but new work beyond the probable
Uimts of production is ptiU going on In hopes that
•r.mcthin* of value may still reward the driller.
I--yon<J this there Is little worth recording for the
v.-eek la the lower Southwest. Activity in tha
Illinois district continues unabated, especially in
Cfcasrfori County, whore another gusher, which
started off at tho rale of BUO barrels for the first
twenty-four hours, was completed on the northeast
quarter of e^ction 18, Oblong Township. Several
;l 'a':r w«Ils in this same suction were also ro
;,< rttd as rcmln« in at a most satisfactory rate.
No Bewa of eveo passing Importance seems to
r.ave developed Irons tht- Southeastern Ohio sec
tion. According to "The Oil City Derrick" statis
tic* there were 703 ntw weOs completed in the
l'< nrsylvanU. oil fU-las at the close of October and
there were VCS rigs and drilling wells under way.
rhis is an increase of 27 wits and a decrease of
f-?& barrels in new production, and a gain of -J8 in
r.«-w work. In Northwestern Ohio and Indiana li)
wells were completed in October. The i,r. w i»r<
flurv.on waa 1,625 barrels. There were 22 dry boles
junoiig the- completed wells. There wore also 12$
rlga and drilling wells under way, a decrease of 4
in nr-w operations. In the mid-continent oil fields
.«'»:; r,cw wells were complcu-i, of which m were dry
1 atefl .-^nd gassors. The new production amounted
to 4»;,738 barrel*. In the- Illinois fields there- were
Ml new wells ccmpl'-ted. of which 82 were dry
iioles. *r*he new productivn amounted to 157 bar
'•ih. Rigs and orillh;« wells und-r way at the
'"■ll*ll of the month wer« r.ll.
Ileflnod petroleum ih unchanged at 8.7T, cents in
barrels and 6 <«-nts 1n bulk at New York. Phila
'iflphla prices arc. on a basis of S point* lower
K"oT«l»jn prices for refined oil are jilko unchanged
for the J/ontior.. 7'><l per imperial gallon:
Antwerp, 21«i francs r><-> i<<> ki'o-, and Bremen, 6.35
mariut per SO kilos.
THE FINANCIAL MARKETS.
CONDITIONS IN WALL STREET SHOW IMPROVE
MENT.
Foreign Bank Rates Up, and Europe Alarmed Over Heavy Gold With
drawals for the United States — Stocks at Bargain Figures.
THE WEEK IN WALL STREET.
Guaranteed protection to trust companleß that
had been under pressure was an effective factor
in creating a more confident fer-Ung in the
financial community last week, hut there was
no disposition on the part of the great con
trolling- powers of the Street to permit the de
velopment of aggressive bull speculation on
th;- Stock Exchange. Indeed, the hint wa3
quietly yet Impressively given that any at
tempt to briiifr about an active market would
be followed by a turn in the financial screw
to a point that would cause a forced retire
ment from the Wall .Street arena of trespassers
against the new ruling that speculative opera
tions must for the present time be kept within
narrow bounds. Moreover, it was known in
certain houses that further liquidation had
be. n advised — in fact, ordered — by the bankers
who came to the rescue of ;i serious situation
as the price of assistance to Individuals and
firms over extended in the market. As a con
sequence of this ruling there was a larpre
anmunt of selling of this character, the etocks
si Id In many cases representing collateral
upainst loans and the buyers representing ln
terests financially strong enough to protect
their holdings. After long hours of careful
examination ot trust company accounts, after
hours spent In devising ways and means to
bring order out of chaos and after hours of
planning for harmonious co-operation the lead
ins bankers of this city reached an agreement
by which support of the most effective kind
could be extended to the money market of the
country. The bankers' conference, which w» nt
on while the city was sleeping, was the most
Important factor in the developments of tha
last week, and though It will require time for
the r- suits of that conference to be fully re
flected hi financial conditions, a favorable bo
ginning has been made and the danger of
widespread panic no longer darkens the finan
cial horizon. The men who do things at the
ripht time have come to th»- front, as they have
done in the past, and their work will go down
in history as one of the greatest rescue achieve
ments in the annal? of Wall Street.
The financial crisis here has been the pre
dominating influence In the foreign markets.
European bankers have become alarmed over
the- va*t withdrawals of gold from the Bank of
England for American account, the discount
rates of all the foreign banks have been a.i
vaiued and securities in London and at Conti
nental points have declined a.s a consequence
of the pinch In money. The Bank of England's
minimum rate of C'seount its now higher than
1' has been in thirty-four yeans, and its p*>r
centage of reserve tr. liability is under the
average of the last ten years. Tim Bank of
Franco has advanced its discount rate to the,
highest figure since I!XH>, the Imperial Bank of
Germany has placed Its rate on a 7' 2 per cent
ba.-is and German holders of American securi
ties have been forced to sHI many of their
securities. The United States has taken mo r <»
than $50,000,000 from the British Bank in two
weeks, and in doing so has about exhausted its
credit balance abroad, but even with its credit
Wiped out. it Mill can dnw the yellow metal
from Europe as lung as it cares to pay the
pri< e. it is believed, however, that the urgent
Ity for gold imports no longer exists, and
it is not unlikely the movement will end In the
current week. The best interests of the inter
national financial situation would be served by
B cessation of the American demand for gold.
especially as Europe is still a large holder of
American securities which must inevitably rom>!
upon the local market if our bankers continue
to bid for foreign money. New York 1b help
ing the Interior by generous shipments of cur
rency and talk by poorly informed people that
thirf city is holding back balances of out of
town institutions is not well founded. Every
effort Is being made at this centre t.. finance
the needs of the country at large, the Secre
tary of the Treasury is makJnp further d<
of government funds with "Western banks and
rvative men are urging frightened de
positors to return to fiscal institutions money
recklessly withdrawn. There undoubtedly soon
Will be a scramble on the part of depositors t->
redeposit their funds, the hoarding of money
will come to an end and the premium on cur
rency will disappear.
Financial disturbance, which is rapidly disap
pearing, doubtless will impress upon the minds
of our legislators the necessity of some sort of
currency reform which In the future will in
vent the d tvelopment of conditions similar to
those which have in the last few weeks brought
so much trouble to this country. An asset cur
rency plan which will supply notes when they
are needed and drive them back to the federal
Treasury when the necessity for their use no
longer exists is sound in principto and will be
found to bo sound in practice, and the Indica
tions are Congress will be asked to approve a
heavily taxed circulation which will provide a
currency for emergencies, but not for Inflation.
Moreover, it Is not improbable tho banks will
devise some system by which a distinction will
Lde between caah deposits and check do
based on gold redemption and no organ
ized a.s to prevent a dangerous inflation of
credit. The upheaval of the recent past has
served the useful purpose of bringing to light
many glaring defects of our currency nnd bank-
Ing systems, and though the cost has been
and has bep n felt in all parts of the country It
will result In the development of new conditions
and methods of hanking that will Ktrengthen tho
e> oeral financial situation. The report from
Washington that the federal authorities ar*> In
vestigating the operations of certain "overnight"
financiers is an encouraging sign of tho times.
and if it is found the bankiner laws of the
United States have been violated the whole
country will rejoice in tho conviction and pun
ishment of the guilty persons. Shady financier-
Ing in some Quarters, disclosures of graft on the
part of "high financiers" and constant disregard
of the law- by certain corporations havo hurt con
fidence among the people, and tihe efforts of tho
President to correct such abuses furnishes a
poor argum-nt for the interests who am pro
claiming from the bouse tops that credit has
be. -i injured because tho administration has
opened tho doors for official investigation. If :1
halt had not been called by President Roosevelt
eventually there would have been a panic that
would have Involved, In a far more serious way
than did the current troubles of tho last fow
weeks, every city and hamlet In the United
States.
The purchase of the control of the Tennessee
Coal and Iron Company by the United States
Steel Corporation, which waa effected last week,
•was one of the favorable developments that
served to str.-ngthen the Wall Street situation.
It was also a highly favorable development for
the United States Steel Corporation and for
the iron and steel industry of the South. Excel
lent buying of tho United States Steel shares
wa« reported throughout the week, and further
evidence was presented of Investment purchases
amoner all the leading investment issues, this
b-ing particularly noticeable In Pennsylvania,
tho Hill stocks. Union Pacific, St. Paul, Dela
ware & Hudson, American Sugar Refining and
New York Central. The low price of Pacific
Coast common, which is a 6 per cent stock, at
tracted buyers; Missouri Pacific was in faJr
demand, and buyers who believe the Rock
Island issues eventually will sell many points
above current prices were moderately promi
nent in the trading:. There was little margin
business, as brokers would not accept accounts
of this character, except on margins that
amounted to a large proportion of the actual
price, and the fact that this sort of buying was
discouraged by the banks naturally kept such
transactions within narrow limits. Investment
bouses advised their customers to buy Tor cash,
pointing out the abnormally low quotations for
standard shares and in many cases predicting
there would be no better opportunity for the
accumulation of sound securities for years to
come. The theories that generally have pre
NTW-YORK DAILY TRIBUNE, MONDAY, NOVEMBER 11, 1007
vailed in ths past regarding the movement of
values aftrr big declines have not received so
much attention in the present Instance as noted
at other times, but there are some observers,
however, who stick to the old Idea that there
v. i!l be a good sized rally and then a slow decline
to panic prices, and even lower, to be followed
by a gradual return to a normal level. Wli v r
the speculative course of values may be the
fact remains that stocks ar< cheap at their
present level, will be cheap 10 points higher, and
offer attractive bargains for investors.
WEEKLY TABLE OF BONDS.
Sales.; Bcnsri ! L^M | ! Fin' ll *
" bd - ffi!- »«*• **•• Nov* N > t
. "* Je -l I 8. I change
•fsfaj £&* ttiayjBiiisaisa.ii±±'
Ff:::^;-;: m » st» « zij
wh.' ir «s*i;*i-5* ft- a a i~>
17000 An H .V: ALs to* - S 5° —**
sh." Ifc.*:::1 fc.* ::: s « sa Us
SMOO do 4, S*» SS ' 4 88 % **'*■ +:! '
ii IP! §• i g* g" ta
iiS
SK-iv'SM 1 !: -J- te' ti H
S ■ ■ •■■' •••" •■•
V- :: £|~&>1& M 88 S ±S
«noo CM*stP ri . lOa .;,. ; ; . ]
,S rr d p° ,~" N ' ; ■ i 100 101*
14700rt, do R,f 4. . . WV gg m " R2
13600W1 do H R«„ 67H .',
44JJ00 do aTr lii" :. 7l! . . ,
800o;r Kt i« m* o n.s i-,. ' i : s, • ,^, ij^ ZL" '
10SSSS0S SA^ *;: g* 4 { g gs 7^
■isjg i* »«rt'ii» S* -■ >S •?* — -
0000 Dftß Q Cm «•.. f.r> m> RgS gg _ ,
10000 do imp Ki losy 102 103 102 -- W
'■■■"' Wei Beo Cor : Bs 88 »;rs S .-.lv +t5
2000 ETV4O Con l»t .'■■ 112 »10-_» 103 102 _42
4000 !■».. Im I, n 7s 125 120 120 | >
400001 do Convt 4s A..i 58 I 57 I Ittttf 57 A t
80001 do B ,_■ ' M 114 I M I_ I
7000 Ft W*r> C Ist l.'i IKM 100 100 -■- 1
68000 aEr> ■ v. ist p<i no I 100 f» lior> i .. j
*22S do fu " Dald....|lolU 102 101 102 ' - «
lfliYMV i-;ri>«n Bay Deb B. B« <;v: m « ' . ►!
1000 Quit * Ship I Be. M • Dn fi:: 83 ~- B
1000 Hoeh V Ist 4> - J 87^ 07 107 ! !>7 - - '4
831000 Int-Met 4-. l8 5t 4 st. ni. , *
rOOO Int Mer Mar 4V ; 56 I M ' Mil : • I
8000 [nt Paper 8| . . llfWJi 103 102% lO2V —IU
8000 K CFBI M 4 W 86 ! M M {
81"«»i Karf aty Bo 8a . 88 WU c.r, «.;t • i. u'
70^.1^,.!;^ 5 ,,.,.; fc. IOU v;lv ;l ■,• c n ,_' jg»* •
fw-K^T^r r, M Be . M 1O( , ' , f, s •;,.,'. . ■
130000 f. B&M B4s 1931 8.V4 85* n IV. I i«i
52000 no r-h 4f I M Wl ' I 84«! HSU — «J
lOOno do 3Se IM ■ vr 85* »5* -
27000 do n.« .. 88 87 IKt} 87 -1
aooo t, VPa Cm 1 •■ --
lonott, •: n o«n Bi flllff { 114 114 114 — 1
8000 d . TTnined 45.. .1 K%\ Wt%\ m I axu + •■;
•*• 'I <*o r\ Tr 4« I Kl» t l sr» I fi^ ! Rfi 1 '
BOno|Met Klcr t^t Bn.J M no t ■-.;..
lsivi'i M-, On( on 4«.] 7^ 74U 7^ • jtu'i 1 iu
R4ooo] rt-i Ixt Inc il2 !::■.; ]!•. r.v,, .|2
670001 | O 3d i, u - 1 7 jo 1 7"1 10 '| .j"
1000 M nr V j i»f ae.jinou! 100 1100 iim» 1 u
Iflon •■• . •- <t i»t .! r.s I 01 t m 1 01 I—7
270i ••.:.;. » T lti 4».l 80H ft.'!'.' BtU P■, . •".

70000 do fl r «Hs ...I 74 I 77 75 j7B - "
400110 do i. • Ref 4, i 7(> j -r-, 7 -, j TT , _ ,».
Vino I ,]r, Bxi r.K lioi I «f>7 IP7 I !>7 —IU
arooe m k «- T of t r«> ••; \ s,<t • m i j»s i .
Wi'Mo I'.. Isl roj a* 1 » I ni 1 nt 1 01 t . 1
anno do Trust N..;.l OSul 01 I nOUI ftftu ._ «
Ifififi N r- * s- I. IM 7- 11-' ' VJ* ilOfl M'"» I — 4'i
BROOniN T r >;-n BHa.. KH4I «T I K> | rt 1 4 r;
loiio' d.T |.. b 1M4.. . I M 1 D7 I *7 j 87 I __ 1
.'■nno' rfn I, s Co] 3H8.1 7« I 7-'i! 77^1 7« ' -
WOO! do Reg I 7.1 I 7.-. I 74 I 74 | ]
12000 ITT CM I.HAP Kp! SS | (tS^ Rfl ■ v -i i 4. i;
IOOOn d', 4c. |70 | 70 170 !70 ' ___
1000 NTT, Kr W Ist nulls I ll« US 1113 I
wvw do T & Tmn 4».! «« ! 87 ) «7 j 87 I 4- 1
WOO NT O * XV T?»f 4«l W> ! Rl 1 «7V s7l.it — vi*
I(v,oc, sort * W Con 4. 1 *■ I BOtt! M I IV) 1-1-2
aanoo Nor Pac Gen Si . : B7 I 17 I M 1 mu — ««
ia',(«vr ,j., Prior «g . 1 04 • R-,141 04 ! ■•"'•',
4f«-*i r> 1; ft v f..., 4. ' D2«4l 01 I r>l I ni j vt
1000 r,. bi L Ist He.. (UK 1 114 |1U 1114 ' 4 1
nOflOl do Ist Con fi« M^T'i ' lOftet ' io*lt-j ■ lfvxvt, J __ ]i^
7." -.»>■ <\n Otd n«f 4s . I 7(> I M i;n 70m 4- <i
ftnrtK, Por-.n Convi 8H5..l B7HI IV' 1 *7%l «* i 1 r,
TKIO.II d^ -.- 1010 . ' *•:,'■.■ «•" I «l . k.',, ' ';
12Armn!Readln« O#n 45. .1 f» I I*l*4l «*'.,! «o^| j. U
4fi(Vl Hl.i O W l»t. .1 M j M I M I «iH I 4- S
inn<i"Ronin W «• O« .'■' I'"' ' ifM^l loflu' IOKV&j •,
%':,.>!, j.t . I Mftfl r.<-r> Re'lM I 101 Una .... • ] 1
KVi.l fir, p....- ,«. r; 4.: 1 871 »«-ul S.H4I K(^|
JW»fiO'>:fit T. • f> I' Ref 4sl To i 701.1 »*o . t.. I
BMA| 110 r.r-n «• ... UK I 11« 1110 Itirt ! — «
im.ol « , r,^n «■< !1"4 ' If>4 I |A4 ' |04 I
S0(io W I. ■■vti 1-. 4s. «l I M I -••• I M I 4- 1
<VV«f> An C«n 4« . ! "Tit «2 IP2 I f.2 I IV4
lOnOlßtPlfAlf M Brt 4-= 1 r "V B<HI ••ti »«H - 2'
SmnoiHean a 1. oold 4^.1 •"- ' 8a I •■••'.' *!."1 "I + i
Sorni'Ho P*o C1 Tr 4«..l 7H I 7Wlj 70\l 7ft% ■ »■ 4%
WlH(f>< ,'r. i», Itef 4«...l MHI S4L'. 1 M I n-.. + 1
fnnrwar,,,.), nr i(>t r,« . i 02 ! ki '1 BiVil M 1 '• 1
flonniT '• I * R '>■■ -"■>!!!»=(* ' Wl I l»0 I M 1 ~ ft
f/lflO: /ir> riirm «8 ll<*B | I.^> 'I'"-! 1100 I __ 2
S<wV d-> T<"'n «• ....tlflO I M I ■"• I JIB I—3
ViOi.'Th .'; Pac Is« Ba.liO" I H'CiJ' lfcii' H«7U' — '4
ROOOIThIrd •■• 1«t Ss.UM ' 100 100 1100 "j — B
7fir^v» ; do Con 4e. .. '4 - ' ->• '4n ' j<>i.' — 114
?iiofi t st r, *■ v BHe.l M • no I nn I on *!
inioo.t fit I. * W 4a.. 1 M ' ■'■•'■« M ' .'•;> ' -*- 1
•nvmoirnlon Ta^ l«t 4«.l 04 I IW ' ft.l ! 14*:,' 4- %
7K«io<V do ronvt 4«. ..I •■"' ! tn : *l T»»4l «'V 4 m
IIVWVT- R T>"ith»r «<i . . MO'tt-j i»loni.;'i"o'i'lort>^l
Toon t- s v. x- Trwi 1".... 1 77 I 7rt I M I 7O ! — 7
41B4<vwr 3 Bteel S P Ba.l M ' °'". «'■> ; RitCl — 7U,
MWVI do T>. -r . ' "HI mui Rneil umi] — 3*4
anonivs T<" e 1 - C n»...l c r . ' Tn^l.TTUi 77141 — 7\*
47<wr.!\r»t.(<.b I»t r - l«l ' 1*»1 ' o«v«i'inrt I _1
l<Wi.V>: dr> Ref * Wxt 4sl ST I 40 I V. ' 40 I 4. J
1-o<v>'TVaT, T'lfts T lat.. M«l r/vi;' M 1 »M< I 4- H
' R'.fXV>i io M I 1!" ' I". I I'.HI tH%I
44.(K».^>,,t mi 4« .. . .( »*m «W4I "■'m.i <wni — <s
ir<v-^!-vr»>Mtln>'Vi 3 P Be. l nf; ' 8* '■ nr ' «* I
IfWV,O T>-, , S>iore 4« ..1 '>°". r «>•» ' ei i' fVft 14. U
annoiw rn V * n 8..1 w««4i »« i «« I Wl I — 'I
lMootWts Cent Oen 4«.! 7« | 77 I 7r.T;i 7r.t; + 14
114.2nn.r.f>0 t.>«:il «alei> far the we»k.
•Ex lnterf t. tB2OT.
GOVERNMENT BONDS.
nov*>rninpnt bond quotations romparo as follows
with those of a wock ago;
, — N*r»v. 2 — / — N'or. 0. — ,
UH. A«ke.l. Pld. Af-l^'-'l.
V F s'. roistered, inaft I<>7 I"* 1 .- 108 U'ft'i
T" a 2a. coupon. 1080 H>7 l«v'- liM lOft'i
TT H 3n registered. 1008 in-.-H lOBVI MM 104
V S 8a coupon. 1908 108» IO.Ti 109 104
V. S -.{»'. small bonds. 1M>».... 101% - I'M
I' s 4s. registered. 192S Il« 121 120 133
TT. fl 4a. coupon. 1023 1 1R 121 13* 133
Phlilprin- ** lovv. IORH —
Panama Cajial 2.1. re«rlstpr»4. . 104H 105 108

BANK EXCHANGES; SALES RECORDED.
The bank pxchnrnron of tlio Now York Clf"arln»f
House and th<- stocks sold on thr New York Ptook
Exchanc« last wt»»>k and In tho wnw wee> of the
ppecedinc two years compare as follows
Nov. I>. 1907. Nov. 10. if)n«. Nov. 11. lix«.
Exchanges $1,272.00 1.t»41l $1.760.1 2«l tt,908,513.188
No. ires sold 1.834.207 3.066.617 4,438,883
RAILROAD EARNINGS.
The Tribune has printed the Rross eaniingH of
thlrty-flght railroads or systems for the fourth
■wrek In October. <»t th«»so thirty return Rains of
J97JM43, or 5.3 per cent, and clfiht return lomm of
1262,964, or 8.8 per cent. The whole shows a guin of
J6C3.155. or 4.1 per cent.
Fouith week In October
li«>7 10<>fl. Difference*. P.C.
80 i0mi>an1r5....512.745.72f» *11.7»1!t.2Tl 1nc.407!».44!> fi.3
8 companies 3.750.4K1 4,003,447 EWe.SB2.M4 C..3
Total 38 cr>'s-.51t5.480,203 $18,772,718 lnc.fTa6.4Bo 4.8
riIATTANOOCJA SOUTHEH.V.
10f>7 ilMfl. 190ft.
Third irwk in *">ct *4..",7.". $4.<M<> $rt.ril<ft
Jily 1 to Fept. SI 64,531 63.363 4.1.849
DKTROIT. TOL.KDO & rRONTON.
(Ann Arbor Division.)
Fourth week in Oct... 1137.087 5121.1W 1127. WU
July 1 to Oct. 31 .... 1.60MM 1.431.44* 1..112.4M
QRAMD TRT-NK SYSTEM.
Number of milfs 4,<>«ift 4.0U 4,i"<2
Fourth WMk In Oct... $I,:W7|SS3 $1,810,432 fl. 188.22a
July Ito Oct. 31 16,3«C1t>7 13.11>7,C13 13.003.050
c.rur & KHIP island.
(Cumber of miles .TO7 W .V>7
rourth »ei-k in Oct... *.<t3.ij|£ 9AH.4% 157.na
July i to Oct. 31 535.1W3 navsu &3.813
RAILROAD AND OTHER STOCKS.
FoUowing is the usual table giving the numbor of shares of all Ktocks dealt in last week, toceth^r
with the highest, lowest and final prices of the week, tho'tinal prices of a week ago and the closing
prices of November 10. 1906. the net changes of the week and the high and low prices in the year 1907.
with the high and low prices in the year 1906:
~N3 ' Nov. I Actual ealeiTNovTT I Nov. I I Ranse 1007. Rang* l!>0«.
shares 10 1 Hl?h-J Low- I 1007. 2. N«*t I HUh-l I»w- Hl h- U**
.olrl IW.-tt. e"f. [ est. j Final. I I»'>7. rhan^.j est. | «*■ | e>t.
100 Alila-Chahners Ctmpuy '.. 18', « ,*!» ,'l^ *£* ± u*' J&j iJ st ! 1*
868 do preferred 44 IS* 14V s 14 *» j*. ~ V .HS V, .ii, »••'-
U2.8T0 •Am.^araated Copp^ IK* W 4 ''- g» g« ZTT ~\ '* lO* M% »
400! American Agricultural Chemical 23 lf% VI 1- IJ ' 2* -- ur ■ {x.
100, do preferred n2<i 7.1 '- 1 '•' "5 5, "i '• "2 ■•m
r.'iO •American Beet siugar 23? h • | v * T~l '- * J ? _
500 American Can — S% J% ** „3 ^ +J* '.- J
800 do preferred - ♦- 3* L * *> ?'• » + % fWi » ,
«*is»^snSar s § M M M ~~< i : h l $
800 do preferred 23 U% J«J»I J» } ',4, 4 T S ?2 • *£ S S'*
B.S6S American Ice SecuriUei St* U% »•* 'II 1 * n . ' + * g. 'Z ?»
300 'American UaMd T J,, i ' ' , I!< '* b * "• *
8.100 •Amerlcaa Locomotive ■ 40 36 1 4, — ■" . | .. TR ,_ « v .-
do ex .llv 1«4 per. cent 7» 4 8!> 37'., 3H — ±»J ,^'i W TBJ« l"
8.515 'do preferred.. 110% »m ■• ' - 1 +7z i,.' '
770 American Malt prfferre<l - , ISH l]^ JSi J» + '■* in »' ♦ lit 189%
10^r^;; r^Sr tl -:::::::::::: $% SS § g* S ±£ itV, S5 g, ] K
WAffiSrStft " iS «S iS «S -- rig & Lj *%.
I 7101 Amerieaa Steel foundry 10 .1 ** «i . 4B » +«• 10% ** gj 4 i,*
■1 =i! f iS^ I I A H f I i| f:
63S -do prfferrei 108% »g *°»* *JJ* ~_* "' X 9? V,,, s (i "
W Anerlesn TPlrßi-aph & rablo..| - 68 I •» «;• " — — - _ i ,Z2 i"J 14 » » |sn
1.262 American Telegraph * Tel t»H J»4'.«| '' g »«* ±3 1M S }„, * ru-.
l feSE T H£ Dref^ : .: : .; w r« vr: s ns ffi g |
2 ,^'.^-^^ r :: 1 -:.v..;::::::::::: SSft S% g S & "^ » B 1- H Sh
10.290 Atcnison — 77W .'- Ji| — ' 3^> „ iriJ , ... |IM . «.-,•%
do ex .11 v 3 per cent SA% 74 «)> "» — +»U "*'♦ g% }g« s^
2.77d! do preferred ioi«» M i g» W »f — > J«»* £! }„%• mu
1.61S Atlu£e Coast Lino » 131 83 M* ' !^ '' + **. o^' 5; t *
0.830 Baltimore * Ohio 117% R- 1 j g?» *''♦; * '•» .. J ~ u L},* 1 . j^i! ;.i
100 do preferred 02 H» » *"> ; ■""» £•>! *" | SJ k
ipOßethWoem Bteel I*S 8% **i «4 * t'i 2ft; ?i « , |
18,*K Brooklnt Rapid Transit 77», Ml4 2**i gW »% +1% »« g» ,SJ* lO su
BSO Brooklyn Union Gu "2 S S ■ S S — 2 12.. « IJJ >
27 •Btttterlck Company — I*7 1 -' -^ -' *^ »
aSMr:::::;::::;:: .« 1^ mn 1^ -:;t .^- «J ■
1335 Oittra! leather s« 1» " Iv'* + * ,* H*! ,07,"; «2
boo do preferred 100 U% ;■•'* ,!■'* "! - ,, r * i'.!,-, iJ? toT
100 Central of New 138 IJ» 11» 158 , —3 — '» . »j> *g*
5.053 Cbuapwke * Ohio J3 j »% ;. ■, * T s ,> /•? > t ,5. u S»^ »S »
100 Chicago A Alton a:.'..' 12H '- . >2Vi "Ij -r 1 3 fj» : ■■ :; ■ -„
7.2oo'Chlcago Great Western 17', Tft Jl4 i>' .■ - — _J« ', ... ■ SS" 7,,
ROU do preferred A 71H 29 »\ 2.», 3.!;, — «fc W% » g,, V,
1.300 do preferred B 23W v> ': J» ''« T«" =.. mi"' bku 7BM
1,-m terii »0% 1M r::. . };» -r, ..■,:
«S IS IS , S ±« -: IS S^ S^
2.235 Colorado roel A iron Bl«i 17H 13 i« ■•: ••■» +»% K^ lv»- gl
600 Colorado 4 Southern ~. «7H WH 1« M «"=!» —'♦ ;:^.'i j.*. f!^
,i do Ist preferred :::::-::::::- «W4 ♦«% «'i ffi 44 —S* 8$ 2" 7:
1.710 doMpreferred Wft. B4li U S% M% — % Wk g» ■» g,
. ,:- w,-,t,1 *- I 410 400 fr «0O id 610 ifc ft %
ino Detroit United Raih^ •»* «2 M St -. *=>; g g 1 108 Wi
100 Detroit United Railroad BS|i ■« W S3 Kli —J4 ««• •■- W^ ' ,' •
SSSiSi:" 111 "* fWuml ".- ■.•.■.•.•.•.•:.•:. S5S 5 &* S* t?i S% ± 3^j & gS U«j
"d fSSSEE 82 s. -■ 1 = V & St. J»
10 K^i.-rU filntns * .Smelting IW M M 51 ( f» lg M »• »g
,S!^K,^«:::::: 82Wi US 108 i|k i|S J** Jg, J2S SS
20.0Ol|'Jroat Northorn prifenod. 820» a 119 I'M' m\ 11ll » +£• ''> V.k —
100 •do .ut.scriptior.P - 105% W t 10Mi l«j: +fH !»%. g — _
8,115 Mo ore certlflcatei ... - 41 w | 41 I *» +8 » g i m 7'***
600 'Hocking Valley certificate* — M « i *" ! i'l T'l i- ?1 i3 io
Me: ri ,^an_..... . * ■ « - . » g
I ftiioi International Ftti»r *H '• > », *•« Si* A
100 •International Power H 3.". S3 83 , » I — • 80% « **
7.4'«> lnt.rimti-mal Steam Pump 44',! B% t% • • " l 4. —H*J t A | g
523 do preferred M>, P4 »1 S3 B% + % M W en g
«2O lowa (Centra] . SBVj 11 T UH \:\ UC + ? V " I --
200 International Mttcar.ttln Uurtne — 4'i 4V» 41-;!4 1 -;! 4% 1 — '■» rr i '„
•00 .!.. preferred — lSi U 1- - 12b — — - =* i 11 -•- 18
100 KanaWha & MtcnigM 3<> SO ■"■" »> — =° « »* A?, g.
8.377 Hans..-, Oty ithem 2»% 5% 2l'.i » -■ •» « "* g»
1.105 do preferred «w 51 «« £ ! « ! _* fi* h L.y 77
100 k - PS * U pref.... 78 . 81 , « 86 63 — — _ 80
200 Lak, Ert. ft awsstern 8« liVi 11 11 15 — * I IW4 11 lij jj, 1 *
tSbt^-I*^ E^ a s2s 2 s au g ♦! # J: « «
,. 700Mackay <--.mpanie» ..•.::-: ♦■>'•> 41 4-1 «K -- 1% TO* g = =
1.. ■ . . MBH 108 tOB 107J IM - -■. • ] r - J«
■isHM^:= * f .I If =C f C 1 ?- : - 5
= f ,1 ,1 If §c ■-
4.600 M!«».,'irl Knni.au * TtaM H* » «»% 2:J H ?4 — H *4_,, _-^ : g» -
8.000 do preferred - • '•■'» 55« 64 , M -2 J-S 63^4 t« •**
- 64H M + 2*, i
1 .:•:::■•:::::: T3V4 A. 81 «Sk -1 -r 2 S «? @ K t,
'-• ■ ling Btpi/.V 8* J 1 S j«4 -— - « «P W ?
p „. . - • M ! tm -- 1 T8 4 80 P->. 8S
100 •do preferred . .. 108 -i M W - s - - * " . / V v I" / ~
4.<-«>'«N.-whoi i(i f. Mininit ft Smelting.. - I I •% >; S : TH — %l -' '»■ - » "..
1 «80 »N»-w Tork Alrßrata 143% e»«4 IB* •-•. «-\ + M J*J> f»« Jg% }:r,
87 «M New Tork Central 128 «K v-4 W«, W, + » IJ*% •»< lM>i ! ;
1 800 New York Chlcaco ARt Ix>uls. «4\ 24^ 90^1 « I « + 1 Jjjil JJ* iSS? in
4 lo in prefemS 80 RB « . »-• —7 110 » 1-' i 1»
l.ano do 24 preferred ..S3 «H« «l 4R «3 4-2 »1% *» .'r. ' -5
100 New Tork 4k New jiiiiiTsY..: - W, jv*w M^ M + H lij » IpMe »=•»
1.2a.; N.-w T- r New Haver. .4 11. ... ■- 183 I£% 183 | 12» -• 4 IR9 12T» 204\. ISM
S.rtl.VN>w York Ontario & \V«»lorn.. 45'. | 31', 2^>» *» I » t 4J«\ Jj Sgj «»
l>io Norfolk «t Weeteni B*S fti c;t j ««H •>••'* —IS JJ2 ♦ P'» »•■»
210 do preferred 8«W? T.i 7'» ! TO TO — • BW, » •■ ■•
8.973 NorUTAnerkM «»H «*^ « ! » fiS TSJ .SS^ ,"?.. ••% itv 1
43.475 Northern Pacific 2- n..» H*H ice »»•> + »»» J25» i :".' • --- *' *
4982 ••!•« certtflcatea - - OR XI W MS JJJ» -—— J** *£*\ ..^ .^j,.
2^750 -Pmciflc . .»«-t 113 85% en «--.-» er-, +« 13*» ?,« 22*
100 do Ist rerred ■ 7^ 7« 7« -■ T~T • I?« iav.> mi ««
175.213[Pe0n RR ex dtv SH per cent.. l'.si; lilVi l"T-> 1<» T -'- -r *>». »*H» »»» •*' '■ 1 " -
3.4m>]lTople» Oaa i Coko SOS 75', . 714 73 ,
w«»^?V«a!^:: • T8 7.-. & i i8 BMi SJ S.
M ■■ •
500 Pltt«burg coa! !<H. liv,l s'v »% s + * *f* ,2 i?3 S*
4.010 Prei •■'! car 62% >»4 1«I»J W ]7'-i f « 67 U> -. •« ♦.;
lUS do pref ex dlv 1% per cent... MO 70 7'» TO TO +1% •*% t g .!'•' J5
720 Pullnin Palace cir.^. 2*> 180% IST 13» 140 — 1 IWH «« «• «•»
to Quicksilver preferred ~. 4 IU u, i>i 1% «S {H • -»
«6O^Railway StSl Bprlni 83% -'•"' M 2.V, SB + % 5_T«5 21 «- , 44
14" 'do preferred _. - 72 T3 T2 7<. - 4 JJH J2 IOT 'V>
184.043 R««dln^ 144% 88 7UW 7-H 7i4 +414 l»i WJ 14 XK
. it preferred....... »1 71 M ■ ■ • ' g •• H
■ : .- «T 88 1 M
fflh«sBa*.** :H S3 l«H 13% & si tu\s* & tg "*
ISr?JS:::::::::::::::::: S? IF d S* Jj *»H g 1 S Su.
l.soo'st Louie *8r 3d preferred. 4>- 4 80 ( 38 ' 39 a>», — % JW, -. g> .* ' >
200 at Umia 4k Southwestern 234 14 I- 1 '- II 1"-W 4- 111 -•;■<, J2H - • « -^;s
300 rir. prefTTiKl 88 88 38 80 2» - 1 . «2H r -; 3 JjJ> * >
1.000 Sloee-Sheffleld Bteel A 1r0n.... 7.1 S7 r.2 36 81% - *'■*', •• I *| f* JJH TP*
86,«7e Southern Pacific 01 ■•>•» 64^ '-T ; 3 88T, -<- S »- . «■<'» •'•;.. •>
7.240 , , preferred 119 » I<H |oliJ tOBH 103 + H U«a »0 W l \*
. B, TOO Southern Itallroad 82< fl 13 ! 12% '.-\ - je 34 ; 11 *-■ 31S
7'»>; .io pr^frtre'l 6.'. 41 88 M 3!* l , - \. 84J4 81 103 JT-v,
iri2is?(arS:E3 » ! W 34 SB \&\ ■-■ ■ff » »
1. ... " •. In.n W1 138 101 IM 1M 12 »
.Vi ' xai Av^f^i^.,:::::::: 53% 18 ... 8- =>* f •: S
1 4.-' llroarf let »S
400 Toledo Railway* 4k 1.1,-in 80 . 13 ir- 12% 13% -- % S» J»H •";. I »*
Ron Toledo 8t Louis ft Western 85C 18% I»W 1»H 1!> - — '• v ' ' !'*■ JsJ r; •
100(1 Io preferred ... V..,: 84\ 88 84H «3V 4- \ .'.* . J»» *►% <
1.1i.. Twin City Rapid Transit .. 11l f 7^> - ' 10 7.r,! TtV, +»% 1«H •""* 122%, I";
•*"" •Union Hhr *i ipar tuefrred. ■"•-'■- 45 4^',i 43i* 42 — '„ •■}_ 4- ■• | , : r,
838.630 Union Pa Iflc IM'I 113% 105% 111? l"-» —«• lg *S '-^ t 2?j2
437 do preferred f>:« B0 7«H >>" 1 •» i ;>i '' •?> fl»
(♦lO United Railway Inveetment. . . . 63W 14% it ' 14% 11 -f 8% ';, 11 »J »»
400 d.> pr.f«rre4 .V& 24^1 1-- =4^i -S +«W JIH 2^fc t'.i', M
100 United Clsai preferred -- ! T8 I T» 7!» 1 T5 4-4 W. 43 I »» t»>\
I. ISO u : Cast iron Pipe ft Foundry. 4SH Sj J^>: am - + «% «. " 83 43S
>ndh I per cent 19% + '*» *■' ■ ;; ? •
l-.- do preferred 18% M . [:V ; M 88 +2 % • « m *•*
•S3 United Statee Expnes 120 T1 70 70 7S — 8 118 1 70 J 1881, 100
100 «L* nlted States 1..-«th«r pref .... —I P>* 88 8S j »7 -fit ! • — 1 —
200 Ti b u.-aity & Improvement "t» I s^u, 88 BS% 8T — l . w»'j 3* im^j ra
100 I' H Reduction 4k Reflnlnc 88 Til I 7 — SOU J 40% - ;
8.790 United Btati ilubbcr 48 17% 15 lS'-» 1«% — IJ4 n - H > 15 "'■' "' J£ m
3,630 do lit rrefrrr^.l _ li>7 TO% 8B .... t>">'* + %\ JOWi ♦'>l' . '•'■ I'M**
270 do 2d preferred 44i ! 48 44\ 43 ! f'• -- 40 N7H 1 JS
15T.585 Cnhed Btates Steel 4-'.\ 2SH 22% 24S 23^ + l\i 5»% 21%l st>'< 13%
0h.:".,- ' do preferred par'aeatrrrr.'.'^ 104% . s.vC kP 6 h-js +2O 107%' 81 H . US% 88%
do ex dlv 1% W cent KM', n\ - 43% I8« 81% UB%
7.»>o!*rt!iii "vux-r — is'- 1«% •; IN —1 BW4
I.Boo i Virginia Caroline, Chemical R7 14S 12% US 12H + '-"► 8»% 12% BH «S
1.300 rlo | rer«rn..l — VH T» : M 7-. +18 108 7?\ 117% SJJJ
600 Virginia Iron Ooai * Coke M'i SSU 33% 8<> l *i S3 4 4V» 8J , 31 88 _ 88
I.62»Wabash 19H 8% BV BV» 8H + 1 '*V» s -' . '" .
3.800 doprefevrea 42^ 18 14% 15% H? f % :tMI -- u>i S?S S 1
1,100 ! Weal Miu-ylnn.l -- ft <. ft I 8 -1 80H « **Vi 8O
Western tfnlon Telegraph 85% SB 63 >"■» ! 33* + IV: S 4\ «1 04', 83%
Westinrheoae Manufaeturinsj. . . IB7H .'.» ' 4!» 4» 84 I — 0 j IM 34'i ( 178 ; 16»
370 Whealtn> 4k Lake Brie -■- SU 8H SH ..-»■'. *•% •• ! 31*4 ! I«
220 do l«t preferred — l« " 15% K.V l»'»: +IS BT% W 4»H •".»
80 do -t preferred 21', I s k I R I ' 21**! - »'» -''i
100 Wlseonstn ivntral S% IS% l.i T , 13% \vJ — % -*'> lll 4 ( 88 I S3
I'h> U> preferred . 80%l 86 W M | So [ M'i! 2s j «4 j 44
iBM '.' Total j* alee far the weet «i;niist«'d. tawtt fata, _^^
rxJJNOIS r-BNTRAI^
NumW ot miles 4.801 4,3»4 4.KW
Month .if October fS.2R7.H'4 »4. 7'!.771 14.3M.141
July Ito Oct 31..4._ '17.747 18.583.T11 i5.07a.03a
TAZOO 4c MISSISSIPPI VAIUR*.
Month of October |S:ts.OOS $774.W.l J«in 0«S
July 1 to Oct. 5t.... 8.0*J7,7i1<» 2.731.2M 2,003.880
BANOOS it AROOSTOOX.
Mrvtitli of B«pt<Tnb*r —
Number of iuil«is 4*2 4S'J 4*2
Oro»t *arnlnar» $2nn.i;in |2Bl>.iiii 82Q2.0A8
fn.'«;ratlng e»v>ejises IS&ftU l.V>.tM4 118.420
N«t earnings ftia.ons (10^.(105 $W.fi2f»
Fixed churgta and taxes 74.7:i1) 84,494 47.801
Burplu* „ |is.;ifitt 139.14U, 837.828
July 1 to Sopt 30— T
Oro.«s •.uinni; • $762. $«Kn.7r.,'. 8881.2R8
O[>ciatlnK cxpeniws. ._ 518,.if>:l 442.'.».'.7 388,734
Net earnings S mo». . }.■;"•:.:..• $242.7!>H $212 34(1
Klxi-.l chargu.n and taxes -IS.SM'J itU.ilrt 145.070
Surplus $32.«71 $81,882 »67T70
NEVADA. CALIFORNIA * OItSOON.
Y^ar ended Junf> 30 —
Oroaa .arnlngs $2«7.3«V, |a2l».12!l $21!> 7RS
Bxpensea li».i»8 1Z4.7»>7 IUU'M
Net earnings. $148.K»S HO4.SSI $108,839
Other income 17,168 . 19.H.50 17,a«
Total Income. *l«o.2fia $124,241 8123.77a
Charges, taiee. etc.... 78.:y,l 4».<83 SauS
Sorplßi $«o.ot>^ 174,308 i.iiiii
Preferred dividends .>. 90.008 22:500 ♦•"■"'
Surplun $30,005 883.088 " $0O ill
BT. JOSKPH ft GRAND ISI.ANI..
Year ended June 80^ —
Oruss parnlnga -.$1,784,337 81.822 ai7 ji no 0 (VTt
■speaaes 1|088^44 l.O^^ • miSM
Nat earnlnna „ 8«fi.'..71-l 8437.783 MMMi
Cas«aa - XTJW :iu%l
Surpl<» $418,335 $112,020 SsBIOM
€"OLOR.\TX> & SOUTHERN.
Month of y«ptembei— 1807. 190* Chanaes
Number of miles 1.841 1 kil.l Inr l"%
Qroßß earnings $1,263,744 tl.OOZimn inr *ITB 7-4
Operating «pen»e, . . . 808.«» 1nc.126.5w
Net earnings $4fil.«4S ~s4To77^n Inc T«Tr7S
T « e » - «2.«M> 2»,83» inc." P SSJS
Income (taxes d»
ducte<l> 5428.24S 5382 •»*£» ln<- n-/vu
Ml*. -.■llaneous charges e«».._40 inc. 847.004
and it-il!'." to In
come f net debit » B.SM qaj l>r . 2iBM
balance available for
tnt-i-piit |OtVßal |37\7"7 Ina. U».NH
Intrrejt 172.903 l.V».t)«i> Inc. l*.*\>l
S\iri>l«!i — «2M.iU3 |SU.tel Ino. $:n."6»;
July 1 to Sept. MS—
OroM aarnlnKS . . . JR.574.7R2 |5.207.6ia 1nr.»3«7.34S
Optmttne sxp«ns««)._ 2.806.838 2.104.WW Ir.o. J90.'.W7
N#>t earntnuii »t.l7S.ftß»» $1,102.6^5 Inc. $76.3X1
tax'<« M.SBI S3 2>7 Hh-. i^..v«»
Inrnmo 'tajies <!•
diictrd) f1.089.099 $1,019,937 Ino. *63.7«t
Mltk'eilati^nuii o^aruM
anil I«|I1H 10 Ir.
com,, (net .irblt) ... KS.S3* R0.7W4 In«. US
l>alamr> avaltaMft for
intrrejit „ $1.043,»» $870 Inc. $63 7S
•*ssrast 914.94S 451.750 Inc. «n.it»
Surplus .„ $5i5.314 SNV.TOI Ino. |T,56
MISCELLANEOTTS SECURITIES.
(Furni«h*d br Iredcrlo H. Hatch. No. 30 Hmad «tr«?t.)
Blii. Asked. r., , »., ,
Am Pi«.s.i Asa-n. B4 »7 Lorrt t Tnvlor ft- 1..1
Am Soda Fount. - 1 *?<w««rV'l2 ' f
do 1« prof ... S 13 Munh..tr«n Trans -\ V,
Am Typ, Fan.. . M S3 Jft T "run,^ T?f " \"5 1
Barney * S C. ., - «n p,^ P r '/ « g
Brit Col Cow>«r. 4 4H «o Jg £5 1 "5 *?
Oott-s Ama »l .«-» ». nitt . t w r ,. f £ „■
«o pr*t 6.. 76 aV, . ir . , 1 -^
Cen Fir.. W orks. . 7 12 wSnwcU'ii Um X
do pref S5 tin 5.nh. ... r t ■-» la ,i *
Crnt Fdry pr*f. 10 14 *,'td ',f, f M 2S
I'hei.ebro Mf 8 ..400 440 SlnU M(« I'o' IW BM
l ':s:. K pr*r rTlre^ iS • <! 3,n r ;!f Mlllin «- ,: j
■£SL B viJE.te H V i Slan.l.ir.l Oil 3»S *V»
Birctrtc \ehtilf. - & Storage p.>w«r.. U u,
do prof - 12 1 (Hi, I 2.T.1 st F. 40 «O
l-.rnplr" w«1.... S M i^n Min nf Ney. S n
i.» pr.-t .... SB RR Trenton pn» .7 M
OnmmCmmmm. r.\ H.. do iww prtf . . ! ! IB »
HSU Sisril ... SB M, ,|,, now .-its aa ?.
Hu\an« Ti>b:icco 4 .'. Tr.»» nli>-. t.»ry.. aa J-,
•a Ml lt> 14 Inlon tVrry "7 M
II H M lat pref 40 46 L'n Bank Noto.. 4H ■■'
Hu.i Hiv Bl P.. — 5.1 do pref «v vl
Hiidscn Riv T»l. 57 H2 Vn T> rit«r. . .l« ';%
Inifr Ball l'> 1;; .I.i l-t x-rrt -t; i.i'j
J B St'tson ST.I — do *1 prtf 95 lot
Lorlilwd »r«r... — Ml
PACIFIC COAST'S REPORT
Company CalleJ the Lackawanna i
the West.
i
Senttlf. Nov. 10— Holders of Pacific Coa
fompany ptock in the West while please* wfts
th" sli'iwlnjj made by the Tacifu Coa^t Conm^Z
in its annual report, recently made public, bow.
out that the management may be overcoßaart,
tive in the matter of dividends and in its boo**
keeping generally, but they feel, however, tha»
th* properly is in able hands and that even».,
ally the common stock will be placed cm
higher basis. It now pays 6 per cent animal!^
There have been reports here in the last U '
days that control of the property would pass t
Morgan interests, but it is quite certain that
i=U'-h control rnuM not be secured in the O Dn
market, ami only at private sale in th«» er^n
that some of the large toMwi should he com
polled to f*-11 in onlor to raise < ash to com>
n. • ssfties that might develop as a conseqapn
of the current money disturbance Xo don>t
the Oreat Northern peopl-; would ttfea to seen
absolute control, and it may be Morgan 1 merer
have been commission to negotiate it for then
The company's report f->r the year tsalai j, :n^
30 showed an increase, tn gross o? Sl,«)9Sf)s-»
while the operating expenses increased HjOOK.
t!22 21. Some items of r-»>n«iderab!<» amount wfm
-harped to operatins- expenses which •■>rii n y
would be rharged to prrp-rty r.r |M i iihiiiih im.
provem^nt accounts. f«t sistsiii one suaj ft »
$363,54644, for rebuilding and eTtraorrji nar r*i
I>airs to steamships, m cl>» ii.nl to 1 ;x»ratln*
C ifwnscs Instead of to perniar»Tir imprr»v»nie-»i mprr»v»nie-»
account, where it belung3. The. sum of $174
96353 for buildings and tssprovements to citT
lots anJ v/arehouseH and other irr.provernentii
v.hich ought to have been chary "i to property
account was likewise tak^n out of the operatir. •
expenses. The sum of $*i09,797i'7 which was
received from the sale of real estate in Sai
Francisco. Seattle and other p'.a^es -vraa rt>yt
added to the n°t receipts, but crcditfd to r?i%
proper* account.
After deducting Interest on bendl and 5 j*-.
cent on the first preferred stock, the balance ■]
net profit with these credits to the Incoms ar
cr>unt above mentioned would amosstf r>
tZZBOJSI 62. nr 22.08 per cent on the common
and second preferred stock. Af:er deductiaa
the 6 per cent on the second preferred and com
mon stock the net surplus tor the fiscal ye«»
carried to profit and loss amounts to $1.63>.
1376% instead of $470.54058, as appears ln"t!»
report. The cash surplus, without taking intj
consideration the property account, amounts tn
$o\oM.l>t> W, or a little over 30i0g per cent on
the common and second preferred stirk.
One ol the rlirectors of th-* cr.rr.j.any state*
that the coal lands of the Pacific Coast Company
are worth at least five times the whole capital
lzatlon of the Pacific Co. t'ompany acd tha:
the net receipts from coal would largeh- exc»H
th« net returns for the year 1&07: in fact, thi
only source of coal supply f or the city of Seat-'*
is the Pacific Coast supply of coal, and th» *♦•-
mand exceeds the supply. Recently thu N'aV"
Department offered to take oO,"<>o f>>na from th*
Pacirlc Coast Company, but the offer waa de
clined on account of the great demand fcr th<»
actual home supply of the city of Seattle aa4
the railroads, entt- rins there, ad tha Northern
Pacific Railroad and Grt-at Northern were m
able under tho interstate law to deal ia co«!
As a consequence the Paclfi < Coast -npanr
has succeeded to their large coal business.
The real estate holdings of th« Pacific Coast
Company In the city of Tlnattls are estimated to
he worth the capital stock of the coTSsany.
Next spring th« contract mad» with the Mil
waukee & St. Paul Railroad to enter th* city of
Seattle over twenty miles of the Pacific C°a."«t
Railroad groes into effect, whether th* M:'
wankee & St. Paul road is flr.is^.i a* r.ot. anii
under this contract the rental wceiiwl --.^j th»
St Pai:l road will amount t 1 T> pex cent upo*
•? 1.000.000 a year. The gross enrr.:r.gn of ti*
company's stearr.sWp lines in th- last f.s;al yea.
were, according to th* report. $3ST.S6i>, ar.i total
gross earnings $7.4t^.40.">. Operating ipeBSH
were |SJ66LBtfl and net earnings .?L.I!fWS. In
the laud department the company sold land nsj
necessary to the preservat or or-eration of tl»
company to the extent of S»So4.7tr». thh .-_-noiint
being credited to property acctjur.t. also for tte
account of the Columbia & Pusr?r Sound Rail
road, owned by the Pacific Coa*: < '^r.-rar-y, lart
sales In Seattle for $~>.'XJ3 wen medlteil to r>p
erty account. The corr.r developed la t*»
year 2^25,000 tons of coal. To the Ml receipt!
as shown in the report should be adtied proceedj
from land sales, mat as before mentioned, »
total net of -. _ 137
The company's anthorlxed ra;^:*a! s>t->ck ;§
H2.525.000, consisting of SUC&OOO ." per cest
non-rumulative first preferred, $4,000t400 con
cumulative second preferred and ?7.lX».o»^>com
mon. The second preferred shares equity with
the common after iweeftvh -r its own 4 per cen:
and 4 per cent has been paid en the eeaaaaaitf
a:iy one year. The common Btock has be?n ac
cumulated by various wtStnmi inztr^ts HeiiTi*
fled with the developm«nt ot rooda tr.:-?rir.g Se
attle, or which hope to enter thai ty, ar.d 'I
may b*» authoritatively stated that the r*>op:»
bark of the Union Pacifl . the 6r«al N.-irthera,
the St. Paul an the Canadian Fhctflo ra larj»
holders, and that each of th« conr.pzuiies men
tione.i would lik« to hav* aadtsjmted cestral «i
the Pactflc Coast property. The Pfcctflo Coast
Company owns some of th-> r-.ost va!uaMe ter
minal facilities and city property in Seattle. aM
its true jw.-. ts are but fa::.:.;.- et wn In th9 re
port for the year-
Evidently the dirvc- -do not cn.re» to have it»
matter of public kmmiedfee that t:u> ,- 'nipany oc
eupies such ii marks CaTwabte portion finan
cially and i^hyeically. or that it has r<?*iurr»»
that can be turned Into income far i tflo»»
commonly known. Th« directors of tli- 1 Paclfla
Coast Company are atvang t:;en. ar.l they ar»
developing the property in a !:ian;i:r that in
creases Its value to other cnr.: ■•. : s to an ex
tent that will bring a v«ry hish price for cr«
trol. If control ever passes. The directors an
''■rant B. Schtey, of Xew Toii Copley atxotx,
of New York; 'U". M. Bawum of N*ej T<**:
John Kean, of New lavsey; J. N. Hi!!, of N?*
York; 11. A. Tacksr, of Boston; K. H Harrtman,
of New York; 11. W. Cannon, of N v York; 3.
D. FarrsO, of Seattle.
The Pacitlc Coast Obmpaay controls tb* P»"
citle Const Steamship Company »wning its *"*
tire capital sM.;k>. and operative Owe s • ar.-.s-i3
lines running betweao San Francisco. rtland,
Victoria. Sltka. Fort Brags. Ban Diego, etc:
also owns all the Becurttiea ol the Columbia •
Pug>-t Sound Railroad (sow standard gaupe)«
Seatt'.-> to Franklin, etc.. wfth «si,;;r.^9. fittr
swvea miles, and its Now Castle som*: the P*»
ctrlc Coast Railway marrow gaugi •. Port Har
ford. Cal.. to Lo» Olivos, eighty BdlMt t^peratf*
Franklin Goal Company, owning Frankßa mlB<S
with 3.050 acres of coal lands at Franklti an*
2,063 acres at New Castle: also Black Diamond
(Wash.) Coal Mining Company and Souta
Prairie Coal Company, at Burnett. Waah, Jt
dividend record follows:
* • T>r c*nt. ■■ "^
Dlv. 'W. -Bi> •«». -01. -02. •(«. *^k "••. *04 M *iMi
r"orr. ..2 3 -l 4 4Vi & I ftU * rtwl Aat-. *J
Ist pfl. I 4<4&a<13583 Tr.lA^*.»3
3d [M .. 4 »H A « 4Vi B 5 s*i •» I"":!. Au>.*J
Aft^r 4 p«r cent on sec >n1 rr»f»rr»d anJ coiimon. t-w«
■tocks ahara miually.
The company waa organised un<?»r tha ft^JJJ
New Jersey, and is the successor to the °r*»£s
Improvement Company. It has a rerr.arKa D ij
broad charter and Is rapidly bseosadM one 0.
the most important factors tn th«> developmw*
of the Pacific Coast trade. The fact that S**"
tl« is growing rapidly an<l is becoming a rn»i
railway and shipping centre naturally ncoU £
ages the owners of Pacific Coast eecurtt.es
hold them, particularly as big dividends «r
b»ln paid, and as control, which Is » oU f ht Jl
ot!u i companies, will not pass at a price for *■*
rnmraon stock under 150. In sympathy **"*
other good stocks the common has Buffersa^
marked decline, but there has been no irnpofW"*
selnnc little of the stock comln* on th * n^
ket. Amoai good market judges th« wtt* 1 *
considered one of the most attractive invest*""- ■
purchases nt present, as it may be fcoUgß* •■
yield more than S^ per cent. y**a
Th.> progress of the city of Seattle *°T!Z
astonlahtna in the last few years. R* l "*^^
scrambling to liuisaao their' facilities at "*^
point, new shipping coaceras to handle t »*^SJ
and Incrsaalns traffic to the Orient, to ™~JJ
Ooasl ports and tn Alaska »nd the IJondl M^.,
bei!. formed; Eastern capital is coro ; n f_V,,.
Ins city, real state is rising in a healthful «■£
ner. nnd ger-rat .-onditlons su&fte.st to -f *
tiers" that San Pranciaco will in the tutu.raV*
a poor eecottd to Seattle as the metropolis « *
PactOe Coaal The Pactflc Coast Co-rspa--^,,
rajoylnsj th. rrutta of the steady growtn _°VjJ
city baravM it has long been on the ■•£"
other words. 11 got in on th» ground Rfor.
In addition lo land holdings alr ady^Erf
lioned iho PactoY Coart company owns TJJJ^
and ilix-k properties at Jnneau and S/C3 th '»
in Alaska; VK3B& acres of timber land "w*
statf a of Washitiirton ami Oregon, and *3^_ (-r
in Seattle. Portland. San Francisco ana "Zjjm
cott. The company's bonded ds>M »s
*"i..00f».00i» first mortsrase gold 5 per cen^s. a
In 1010.

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