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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, September 30, 1912, Image 10

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City of Baitimore. Md.
4*
Registered Sewerage Stock
Due Aufctist, 1?61.
Legal for New York and N'ew Eng
land Savings Banks and Trust Fundi
Price on Application.
W. N. COLER & COMPANY,
BANKERS,
43 Cedar Street, New York City
7
Y7%
On Your
Money
Payable quartrrlr oo the 6% Um, i'referrrd
American Public
Utilities Company
It purehaard at preacnt markei prtce. Oean
pany und?<r maaarrirent and ut*r?non or
Kfl?ty. Brewer A Co.
Taarrtptlve Cl-cular on regveat.
Williuni, McConneii & CoJeraan,
Bonda Stocka
ao Wall St. Phoce aa* -oto. >ew Tork
FIRST MORTGAGE on Publi<
Service property; replacemen
vaiue in cxcess of bond issue.
Yielding 5.30% on investment
Send for information
Boyer, Griswold & Co,
Membar* New York Stoek Excbanae
42 Braadway New Yorl
Public Utflity
Investments
Deaeriptlv* elrcular will be
aent lnvestora on application,
William P. Bonbrigbt & Co.
UANKKILS
14 Wall Street. New Tork.
Boaton. London. Phllaaalphla.
CHARLES HEAD & CO.
14 WpJI St, New York
fN. Y. Stock Exchange
Membera^ Boston Stock Exchanga
IChirago Board of Trade
Private wire connections to our
office*. in Boston, Providence and
principal Canadian cities. Canadian
and Boston stocks a specialty.
A 6% Preferred Stock
To Net 7l/2%.
Particulara Upon Requeat
Swartwout & Appenzellar
Members New York Stock Exrhance.
44 Pina St.. New York._
?- ~ " ??:-:?
FOR SALE
Autoaalra <ium * Chocolate
I'.hIk ?? k a fVlloox _
Intrrnatlnnal Motora, Tom. * Prefeired
Ktifety < ar Heatlna atxt l-l*tuln?
l". f?. Motora, (om. a Pref.
S. H. P. PELL & CO.
Membera Bj*w Tork Stock Exchar.ice.
Deal?ra In rnllatad and Inactlve 8ecurltlaa
TH 7885-tl-7.8-9 Hanover. 87 Wall Bt., N. Y.
FOR SALE
CROISIC EEIITY 6s
DUDLEY A. TYNG & CO.
35 Rroad Rtreet.
(hl.a*n. 'Plione 8958 Broad. N'ew York.
Wm.A.Read&Coa
New York
BOSTON LOrVDON CHICAGO
tularosaTcopper
-The Baxt blg porpb)ry copper mloe.'
Important dawelopmenta both at tha mlci
andln. tha raarket ara due.
wttto fer dttall or Companr'e propertlei
aad what tha ww directorate tneana.
HARRY E. THOMPSON & CO.
Comralaslon Brokers.
25 Broad St.. NEW YORK
'Phona 826B-6-7 Broad
Market. Letter Tt-jraday._
r
TONOPAH
COLDFIELD
NEVAD1 MtHIBB STOCKS
8KND jx)k wuri
-TONOPAH REVIEW
Slxtesn pa#?a of lnt--restli.K Information,
wlth now map cf Tonopah.
MARKKT LETTKHS l FON REQl EST.
WEIR BR08. & CO.
M BROAD ST.. NEW YOKK.
DIVJDEND NOTICES._
UNlTED FRUIT COMPANY
DIYIDEND NO. 53
4. quarterly dlvldend of two per cent on
tha capltal atock of thla Company has beer
drciared. payable October 15th, 1012, at th?
offlce of the 'Ireaaurer. 131 State Street. Boa.
ton, Man., to eto<-kholders of record at thi
cloee of buaineaa Heptcmber 14th. 1012.
Chaut.ks A. HUBBAKD. Treaaarer.
WESTINOHOISE
Electrlr a Manufaiturln* fompanr.
New York. 8('ptembar 17, IB1S,
A ouarterlv dlvldei"! of IK'r ?n the I'KK
pkhred stock of thla corapaay will b4
pald on October 15, 1!M'J. to atockholdera ol
record at the .loae of buaineaa oa BVpt*mb*i
BOth. 11.12 _ T W, S1KMOX. Tr< aaurer.
BEABOARD "KAfrONAI. BANK.
New York. Heptnnber 18, !'.M2.
The Board <>f Iiirectore of tlila t.ank hal
declared the reg-ular ciut,rt.'rlv .tlviden.l ol
thret t:t> pt rent. aayabla Oct?b*r l, IB1J
to atockholdcra of r<^<.r.) <>:i Repterabar 25,
lt?i2 c. r. thomi'Son. Caahter.
ADVERTISEMENTS
foid SUBSCRIP
TIONS for THE TRIB
UNE will be reccived at the
foUowing Branch Offices
at Main Office Rates:
1364 Broadway, 157 East
125th St, 263 Wett 125th
St, 104 Eaat 14th St, 264
8th Ave. and 10353d Ato.
Week of Special Activity-?
Broader Market?Higher
Prices.
Another week has paaaed and only a
niemory of events remalns to t-ast the
shadow of hypothesis <m which tO baaa
predictions of future stock market op
rrations. It ls truo that by rotnpnri
BOn tho actlon of the market during the
week Just ended has been remarkahle,
as it has reached a wider ran^e. trans
actloaa have been on a broaBer sc.-de
and several Issues have cstablisheri new
high rerords. The week will also be
individualized among the succession of
weeks in the stock market ns ,.hr flrst
nne tbM year in which the atandard
railroads and industrials assumed ag
gressive leaderslilp and carrled price
levels to dlstinctly higher elevations.
whlle some of the formrr epoclalttea
whlch had been the hope of the bnll
side at times became taffgaftJUt and
sagged from their previous hign polnts.
Not only has the market in its trading
relationship and specnlatlve opporttml
ties been attractive to the optimlstlc
side of Wall Street followlng. bat It
has strensthened the faith of the ln
terests in and allled to Wali Btreet to a
degree of confldenee covering tlie fun
damentals which are the real BOPPOtt
of the market's upward movement.
During the former weeks for many
months there has been the ever pres
ent query, "Why does not the stock
market discount coming prosperity?"
Thls lnterrogatlon was followed by an?
other ln close conjunctlon: "Are we
really approaching a period of pro
nounced prosperity, or will it j rcve to
be slmply a spurt of better times, to
soon die out and, like the promlsed re
covery in 1908, leave ua with the 1m
pression that we had been chasing
ralnbowa?" In the absenco of any
sound reasoning to the contrary, we
were obliged to accept the week after
week of favorable and continuoualy
optlmiftic reporta of the commercial
agenclcj, tho daily developing Fteel and
lron trade, which has now reached re
markable flgures, and a volume of
buslness taklng the output of the com
bined mills well Into 1913. Tho re
por..s from all points of the cotnpass in
tht Unlted States confirm more em
phatlcally aa the weeks roll on that
the country not only has been enterlng
on a new era of prosperous times, but
lt ls now forcihly impressed on the
buslness and flnancial representatlves
who had remalned ln a state of de
batnble doubt that we are already ln
the promlsed land of fortune and
plenty, and have been for some time.
We have passed through the opening
portals and are well within the broad
expanse of commerce and indintry, the
recordH of which berrtrar all previous
annals. For quite a period prlor to last
week the stock market had shown lm
pulsea, but it displayed a lack of lead
ership agpressiveness to Inspire a fol
lowing, ao ln a desultory aort of a way
it drlfted on, with Just enough spirlt to
supKest a tuillsh undertone, but not
sufliclently strong to kindle en'.husiasm
and cause a general advance ln the en
tire Bat of logical market leadera. Like
a suddenly dlscovered opportunity or a
danger but recently realized, the -veek
opened with a broadenlng tendency of
the market, which grew more pro
nounced on Tuesday, and on Wednes
day had spread throughout the 11st of
standard issues and others, many of
which had scarcely been dealt ln dur?
ing 1911'. It was when the market had
reached lts lmportant trading positlon
and a genuine bull market was fore
told by Ita activity and aupport that
the banks put a check on the advance
movement by ralslng the rall money
rate to 7 per cent, the highest price for
call money slnce 1910. But the mar?
ket recovered, as ao many stlmulating
factors crowded Into the latter end of
the week that there was developed a
market energy whlch largely overbal
anced the stiffer money rates and as
alsted the bulla ln keeplng prices on an
upper tenalon, though at times the
bears aucceeded ln brlnglng about re
actlona Tho lon,r apells of lnactlvlty
which marked the daily routino of
trading in tho weeka prlor were not ex
perlenced last week, and each day the
broader acopo of trading embraced new
issues formeriy lncluded ln tho lnactiv?
'1st. The Auguat siatementa of rail?
roads published during the week have
changed the feeling of despondenoy re
garding the rallroad situation due to
limited freight traflie to a cheerfulness
and a reviving confidence in the future
success of railroads generally through?
out the country. Gold importations en
gaged up to Friday totaled $4,250,000,
and this ?um, with foreign exchange
rates forecasting further ahipruenta to
the Unlted States, offer an assurance
of replenishmeni of the depletec! re
serves which for many weeks huve
been reported by the New Ycrk banks.
There will be a large demand for
mon<jy with the expansion of businesa
and commercial requiroments will bo
greater, but the natlon's economlc posi?
tlon has been so carefully atudied by
the big bunklng interests both Kast
iuid Waat that, except for short inter
rnptlona of sudden abnormal requlre
nient-}, the even tenor of the money
market appeurs to be wel] provided for.
In any event of an unlooked 'or strin
gen<y the Trea.-ury Dopnrtmuit may
be depended on for liberal support.
This is aot the time to allow oreeping
Bhadoara of distrust and fear to liinturb
the pleasant picture of a bright future.
We have had several years of gloom;
lt ls now time to cast asldo luijubrioiM
gloom and be glad.
WANT A BETTER ROOM?
Conault Tho Tribune's Room and
Board Register. Issued daily.
_FINANCIAL MEETING3.
THK PACIF1C <OAM COMPANV!
Tbe anmial imetlng- of the BtaekhoMara of
The i'ailtli- Coant Co. will ba htl.l at the
offlce of tho fompany, 83 MontKotiwry 8t..
J.-raey Clty, New Jeraey. on WedneitUy, tl.e,
BtB day ot October, 191'J, at l'J o'clock noon,
for tho electlon of three Dlrector* for a term
of three yeara, and for tha tranaactlon of
aueh other bualneaa aa may properly conib
before the in. i tlnpf Stock trannfer booka
will I.. i-loaed at 3 i\ M. on Wedneaday, th?
18th Jny of Seplember, 1012. i.n.1 rr"|.nnea at
lu o'clock A. M. on Octr.h-r lot 1.. 11112
ClAPPOHJJ <" FAT.
&?ptemt>?r td. 1012. Secr?t.>ry.
ACCUMULATED PROOF
National Prosperity Now Recog
nized at Every Point.
in the raetawa of the oaaaaaaroaJl agen
c|p8 for the week endcd 8atur.lay. Sep
tember 28, the most pronounced tone of
ojitimlsm prevalls. There are no special
I.ro.isiona; the statcrmnts are emphatlc.
"Duii's Review" in part BBjra:
"I'roof accumulates on every hand of a
developng national prosperity, hroad,
wholet-ome and quite independent of con
i troverslal lssues t!?at uaually brecd tm
| rf-rtalnty and healtation. Many years
i have passed aince there has been BBBBl
! unanltnlty of testimony aa to the widen
ing of BUBhiaaa activity. Kven aeaaa of
i the lines arhfc h have been lagging are
inow developlng the same progressive
| spirit whlch for sorrie time has existed
; ln the iron and steel industry and la raak
' ing that trade break ali prevlous records.
I Conaum.itlon haa not only overtaken pro
ductlon, but la rapldly presslng ahead of
it. and la aome tinpo-tant polnts Bcarclty
of facilltles, scar.lty of labor and scar
city of transportatlon app.ar as the Inev
itable accompanlment of an acctimulattng
i d. mand. Copper productlon and consump
i tlon are both enormous. Not only ls the
dlstrlbutlon of drygoods ln the varlous
branches of the trade larger than last
year, but the leading tneruhar.ta ex
pect a continuance of the demand and
are looking forward to a year of general
prosperity. (Midltlons ln the shoe trade
are r.ow tending to the BBnol degrre of
activity. The great Mlddlo West ls ex
perienclng ali the beneltts ^f a blg crop
year. The Paelflc Northwost Is reje.ieliig
ln a revlval of the lumber industry. Bulld
lng operatlona contlnue acttvo ln many
of the large cltles. Heavy rains have In
terfered to s.ime cxtent wlth retail dlstrl
butlon. but thls ls mertly temporar>. The
money rnirket la very tlrm i.nd apprars
likely to contlnue so for aome time, but
the needs of legitlmate buaineaa are ade
quately aerved, and It la notable that
speculatlon, whlch so often attends a for?
ward movernent tn industrv, has not be
BBBBi rampant and harmf The Btatls
tical records of the wrek are eloquent
of the wldenlng lndustrlal and niercantlle
activity. Hank exchanges thls woek out
side of New York galnod 12.5 per cent over
1911 and II per cent over 1910. whlle in
New York the Increaaefl were 6.R and 25.7
per cent. respectlvely. Rallroad groas
earnlngs In two weeks of IsptaHlhar
gained 4.9 per cent, and whlle there ls not
so much new railroad construction as In
the paat. the rallroads have been. and
are, buylng freely of supplt*s an?l maklng
every effort to prepare for the h<avy new
traffle Forelgn trade ia well malntalned.
for the latest week at Now York tha
movernent In and out nggn-gatlng r**fffB>
856. agalnst |?.820,4O6 a year ago. Kx
ports thls year were nearly $.V?'<Vrt>
larger, whlle imports were niore thau
?.250,000 smailer than ln 1911.
In the Iron and steel trade the pre.wire
In the market for ieMaertBB ls refl.-ctfd
In the sharp demand for ptg iron thia
we*k, quotations t.^ndlni? MbJmbT tnd the
mnrket aa a who'.e BetBg Bt B aaff strong
posltlon. fird^rs r.mtlnue to ome in
fro-ly and the mllls are provld.d practl
rally to the close of the year. Mu -h dlf
flculty Is atlll experienred iu meotlng the
demand. Merr-hant plpe. steel bars and
Khf-ets are ln urgctit requcat and ?ha
movernent Of Ptataa i.t.d ahHpea Ir. heavy."
"Hradstreet's" ln one paragraph has the
fnllnwlng:
"Buying ln peraon, by mall order or
through the medlum <>f road aales malit
tains activity ln th* varlous lin.a of dls
trlbtit've trade. ShlrrentB on oH.-ra r
vlously liooked are *,olng forward in >ol
unie, and one of the rnost slgrilfl' ant fe.it
urea of the general sltuation la the ln
nfr-tent <all for protnpt dollveri'S, whl^h
indlcates Ihut stocks 8B not iag eup.r
fiuous on pw ;?>yors' alvatvaa ln a ho?t of
lines on.- hearg the expreaslon that condl
tlonn as rtgards fales are battaf than for
sorne y?ars past. W'lthal, Imycrs are not
maklng large forwnrd .ominltm.'nts. pro>>
ably fearing future paMttBBl devdopments,
but wlthin the week purchaairig of heavy
wlnter cofi.lH he.arne mnn atiltnat<<i. ..
tourh of ff'St la parts of th<- W.-at, North
wi's*. ai.d So'itiiwtat havinic baaa tka
Ktlmulatlng fa.tor. At the aame time. th<
lower t'-niperaturea beneflteil r.-tail tra.le
In the BBne lndlcated, though qulte (an*
eral rains deterreil shopplng, thus ad
versely affectlng dlstrlbutlon in s<>m"
branches and maklng for ln.gula.rlty.
IncMantalTjr. ralna taaafarad by froat and
sleet wrought BBBM <lamag<> to eorn ln
the Northwestern stat.a, but whlln th.>
lower temperatureB extended as far south
west as Oklahoma, no great Itijury was
done ln that section. It Is belloved that
most of the crop ls out of dan?*r frotn
frost. However, the iess propltli.us
weather condltlons have hampf red tiira?h
lng of sprlng wheat, whlle probahly In
Jurlng Bome of that atlll ln Bhork. Cotton
has alao BUffered deterloratlon, and rains
ln aome eectiona have harnpered plcklng.
out the yleld, on the whole, will be a
large one. although lt seema certaln that
lt will not attaln the expectatlona of
aome few weekB ago. Karmers ar? mar
ketlng thalr graln ln large -/OaBBa*, the
movernent for the last four weeks aggru
gatlng 107,000.000 bushels, or 54 per cent ln
excesa of the correspondlng time last
year. Kxports of flour, wheat and oats
are exceptlonally larg.', arxl the transat
lantic ahipplng trade Ih hrisker than !t
iius been in years. I'ricts are remunera
tive, and the reciplftits thereof are llqul
datlng debts. The luavy graln movcni. nt.
comblned wltli larK.- ahlprnents of genr-r .1
merchandlse and lnslstent calls for c al,
lias thrown burdens on the rallroads thai
they are unahle to BMOt to the BBJlafaV -
tlon of ali. Thertfore, tba shortagu <>f
cars ls lxicomlng more noteworthy, BOtl
BBBM BBBl mlnca ln tlie West have BBBB
compelled to temporarily cea,se tiperations
untl' cara can be oiitaln.d. In.lustrliil
operatlona are moving along at a lulsk
! rate. Steel plants are well sold ahead,
and as a Bjenefal rule no niore ord'ra can
be taken for dtllvny thla ytar. Huylng
of bars for 1913 is fBUaf forward, steel
ninkinii plg irons are htgher, addltioiiul
lunia.es are pr. parlng to go into blast,
traylag al raltJ is a faaJnraj <-ar ajaata
are well sold up and coke ls very active,
with future buslness in piates and Btruct
ural siiapes prescntmg the quieUst as*
pects of an cxceptlonally strong situatlon.
FlOVr mllls are act've, lumber inaiu i.t
;tters are rushed, makers Of BaVBInarf
and tna.hine tools are dolng more, J,:w
elry iiianufactun rs are liveiilng BD, and
goo.i reports BBBM froni most bran< h.-s of
lnduatry. l^ubor contlnues In vury acatit
supply, and vurioua BaMB Baal it neceasaiy
to take unakilled hands and endeavor to
traln them up to the requlred stan.latd."
o
NEW YORK CITY BONDS.
U urniBlieil by W. S. ( oier 4c Co., No. 43 Cedar
aireot.)
(Accrued Inttritt to ba adda.i.)
l-i.i Aak.
?4'i. March. l?c:'.?.>?"J'4 IW?
??T Marih. '?>?. ?Pl M.!?% 10.':%
?4'.. M?-pteiiiber. IBB8.1W4 ioo',a
?lij. Novaaabar, UM.i<x>'% i'?i
?4',. May, 18^7.ltt.', Mo
?4'j. Noveniber. 1?1>.101'4 lOJ
?4'^, M?y. 1917.101^ jo-J
?4r, May, 881. M'? yd'i
?4s, Noveniber, 1K>8. <hi., njZ
| ?4a, May, 1^7. 9S', BHJ
,?4.-. May, Wj...????????. ?8 100
i *4a, M*V*B9B*r, lftw-u*. :.., 97
*4!i. November. 1W<....... :?. (,7
?3'i Novfiiibi-r. 116I-'S5. 8414 Mt
J3S. May, l'A4. 14',, i.f,i,
;3'-j. VXA-'U. n& sc
I*'*. Noveniber, Ifd. n.> ?iH
US, vurioua n.aturitlea 1K9-1S14..4 30..H :"0 i.asi
?t'oupona InttTohunfeable. tlte(latereu. tCuu
^oua. (KeslstereU aad cuupon. 1
r f?? Trustee
Lxecutor
Chartered 1822
The Farmers' Loan and Trust Company,
Nos. 16,18, 20 & 22 William Street
Branch Office, 475 Fifth Avenue,
New York.
,....? 15 Oookapur 8t?8. W. fASIB, 41 BenleTara Egaj.maas
MIDOrT 26 01d jkd 8treet| ?, 0. J""?'
Travelers' Lettem of Credit. Foreign Exchanga.
Administrator Guardian
WEEKLY TABLH OF BONDS.
Salea.
Bonds.
I I IF,n I
rHrhltaa-Bartl Net
I M. |r.h*e
3000.U S to coupon. new, 102', M24 M24I4- }*>
7000J.V Y C 44i 1917.... |l? !I01*?101\ -?
soooo, do 44a oorp uar. lat*liatji ut% ? 4
TOOOj d.. new i,i ltt7..J10?* 10..%j mJVt Jl
r-itooo d? ?%? 1960.'100*4. 100S.KWH:4- %
1134000 do 19?3. 100'i, 100VB j 100*4 J ??
IWO0 do 4a corp 1957... OSi.-, 9S4 98414-4
2000 do 4^ 196*.i Bttfl ani 9?V4j-H
146000 do 1959.1 9<>4l 884 a*1* TL
I'OOO do 34? 1964.I 864' 85 | M+l
:WW Imp Jap lat?er44a 92%i B'.'HI BT* +*
aaa ? aaaar.alBa. 914 n fiH?
15.100. do 4a. W%j 13*4, BN?I-?
l?'j0OjR.-p of Cuba 6a.... 108 103 1103
10uOO|L' S of Mex i f 5ii K 96 34 --?
1000 Toklo 6a. M 81% 81%1-UI
17CW0 Cliineae 6a. 334; H 83 ,-?
4u0o|N Y 8tate 4a 19?2. 1004; 100% [lWH- + %
20000 do Canal 4a Ittl. 100*J 1004;ltta - %
17000i do 1BC1. 100V4; 100 V 1001,1-?.
aaaalva dt ?? ctfa.[6* . 6? ,66 -zv?
8"00 Adatna Bi col tr 4a| ? | 86 ? ?
lo0u|Ala Cent lat ?a.... j 1064 1054; 1<*4!-?H
K-iXi Alb A Sua nta.... BBS 804| ??>|t>
I^iOiAM-C 6a Tr Co ctfa 60 80 | 60 -- %
eooo do lat 6a. ?1 I MHi 60%|+4
7000;Am A C tvt 6a.,101% 1014|M1H|4-4
14000, Am <*ot on 4sa...i 474 ?7 1 ara?*
6000, Am ii a l 6?.1004Iwea ,1004 - Jt
30On,Am Iee del, 8a.[ lt% 77%| 17% ? 4
BOOO Ani Hm * Hef 6a.;10? ; 106%, 106%. 4-J?
lOOOlAm Tob 6a ctfa.... .120 ,120 120 4-4
19000, do to. 95%, 96V?; ?%T*i
l.VWOJAni T ? T col 4a. 1 BM I : '1 ? 4
186000, do eonvt 4B.
Mtt] Aaa Wrlt paper 5a
1000 Ann Arbor 4a.
30000, A TASF cvt to 1917
1M000 do fen 4a.
taaa <io ?dj 4a.
48M0 do ati'd
Baaa
Baaao
20O0OI .lo (' A ArU 44?
?Kar do Bhert Llne 4a
izonoJAt <'.ia?t Laaa 4?
III000
89% 39 BBfU
114 1124 114 -t-1
80% | 90%. 9014.1- %
SOtJi 804 ttjif %
109^ 108% 109%, 4- %
93 ! 87%j 98 1+ 4
884 874, 17% I
?? -, 83 I 83
g
do cvt 4a 190> 1966 inos; 1094; b*4t+*4
1.. 1960. 1054 106 ;1064,4->
1004 100% 1004,4- H
?l ,91 I 91 -
. .., 964, 84% 94%!-4
IS;-. do I. A N 4a.! 94% 934 834.-S
l(M>00,Ariiiour 44?.I ?1 I ??% ?%+,*
16060[B \- <) prior llen 34?i 914i >'4: ?14 H
3IOO0; do gold 4a . 9t.4 86T?- BBli +- 4
lKAiO, do 1* L. E&W.- 4i. r.'4, 89 894,- %
KJiftO1 ,lo H W dlv 84a.. 894, 894, 894 r S
MikV) Ueth Htl lat e*t 6a te.% I 9?'? 9<54|? 4
1000 Hkl>n Clt? lat 6?..!l01 } 101 i 101 i? 1%
10000 Bklyn R t con 6a. 1044 1"34 1<H I
Baaa <to 4a.) ?:-4i 9o\j a%)+H
Sivyidi rj bi lat 4* at[Ml 113 i?4 1W ??
8000 Rklvn I'n (iti ta.. 1<V"4 1?4.1')?4,
11000 Huffalo flaa 6?., <iS ?*-'? I 66 l??
I'fmn H-mh Term lat to..! *"^', 904 904 - H
14000 i'hii So eat Oa. K"i'4 l'?4,1004 ?
Baaa aa al 6?.| Bt% 99\ 9^?? ?-H
lty>?) i-ni i;a^ a Kl to.., 95 914 ?<\ - 4
Baa C of <U Ry con 5a 1874 IBttf * . ? \
1060<XI i>nt L fan 6a.| 9.".4 96 ' K.4 - 4
tVXi0,C..nt of N J to....;ll?4 lU t'*4 + 4
9??0 do ref. 117% 117^,1174 ?24
:4-mo;cent Pao 1ft 4s.... K. ' 94%. *4\
aaaa .io t4a. *>'*
BtM Oaal Vl lat 4a. 91
aaa <'hen & << .-on t? ? aa
naWl 'io a?n 4>-a . 1"0
ai"?J do convt 44a.... fl
Btai <lo <"oal lt 4a.
IBN 'io lUIA lat ron 4a
W-iOi'b!.- * Alt 34i....
atooo >' lt A 'J B'n ia....
laal ga Pen ^u *? 8B*4
laaa do m gt? 4? r<-a ?7
laaa .i. .;',? . v's
laaa ao in*** <nv ? f a I a
loeoo do S'?. aat 4a reg 9-'4
{aooOO do Jr.lT,t 4a. '?'?'1
:?.rt do r?.?.1 fc'-S
IBB0 C .V 1". III ??>!! to 1"7 117 107
IO". ga tef A linc 4? 7: 77
l ? Chk <iH? r.t i?f to iaz% l?% 101%
31 '"' <rii- 'it W??t 4- TtU lt .' S
C M*-t P ?ni <* A 87% ?CS ?:V
4., r & v \v to bH\ 1844 IWH
da roavl 44v . l'HS 106% 106
1:1% ;:i\ nis
11I%,I!I% !HS
:? 1*4 1?4 1 *4
>: >;% '<.% - 4
1*4*4 1 *S INS ? 4
??4 '?
n 1?
.ii Coal i.f IM '?<
?I A :?th Av l?t 5?
I "?' ' '? :i 'I ..l.a.-.-o 4a.
?-? Con I'r rf?c 6. Ittl
>/?*' do a f f.f 1934... '
<??'??> !?. 1 A 11 ' vt 4a... I
24000 lo lel rfK 4?. ...
21'ifiO I>.-n A HI'i 0 rrf h
L-ooo do 4a.
11008 !'? -t I'n Ry 44a....
r.i'?^ I?int Hac <'or|. r*
Jftioft'r. I I?'i P ?en 44? !
LVK) g T V A <"'? <?>n 5? 110
MM Erla prlor llen 4a. B8||
laM .lo t.-B.j Bo J
(BBJ do aaa Men 4a.... 77%.
4'.'. ? .lo ? i-nvt 4a aer A' 6.1
taaa do it .; R*a
4fM>0, do I'.-nn col ta.... 894'
BWO Kt WAH O lat 3 4a 77iv TT?i 774:^14
r.T'v/) ij.ii Mo4ora <%o ?a.l 884! 99'^; 8941 h H
:.'.aoo firrat North 44".'1004 1""4 I00"4 ? ji
4800 'l.-n Blae dah f* .. 1M2 !]?1\!1H -f37
1A/J-. .?? /< r. v* ,.. tm tn.l lr.11/tiUl/._,
i
lOf/i <U C A N lat 6a.. 101% 104% 104*4
HOiv) OBI \V deb B...I 134' 134 ISVa'
l.Vn'.'H Val lat eon 44a.|l0l% lt?4 101% 4-1"
I'OOO H A T C lat 6a... 1094'1094r; 1094|-e
Ifc.i III Or.t ref 4?.| 93% 93%: ii\ +
10"0 do Ixrnla dlv 84a' BM{ *54| S64!
taaa aa W'-at t.ine ta. 9s 93 ! 93 -14
4WW);itiap Ooettar 6a. IM4 1074;108 |
800.1 tn Bteai 44*.| 9014: BJ% 9?4 \-%
10014' 100411004I ?
rfV"ii|nd Hte^l r.a rtfa..
I I) Inl M M .ol 44a..
MviO Int Nav n f 6a.
. '? int Paper lat ??...
Baa .in i*t r.a.
8JOO0 Int M 1'iirnj? 6a_
IMOiH.'Inl M^t 44?.
21(Vxio Inr R T B'n 6a A
licKi Inna Ont lat 6'...
17000. do r.f 4a.
BtWIKaa A Ml'b t<t 4a
2SO00 K C Ft fl a
HO * Kan <" ."-o lat
MB8 do 6a.
4<>"'i Ketl Ont 4a
IBN Klnca <'.. Kl la...,
BN00 l.i' k St.-.-l f.a 19r,ij.
:??'?,' 79%
103% 1"3% 1034
*% "'4
81
*
.38!tlt
y*4 %
92 lel
lolS'l^S'lMH! f S
'<% aa j 9a 11-?4
n*i 9i"%;-i4
lat 4a :?!*, :n-t :n\:~is?
M 4a. 7^*4' 7H'?' 7S%I? %
Ba.... M :i ?. vr, 4
. !i7?? 97% HT?t . i4
wrft
:??, b?h ? 'v
Itaa .1.. ron Bj 191.",.... 84*4 Mtt 944!-%
.""?1 do iaa. aau au %4 f%
L"oi Laclede <i?a ta... I**4 104 io?% ?
1.la ref ia. 1"! mi 101 - 4
-,.,..
da ref la. Hil MI 101 - 4
. II t- W lat 6a lfti;\ W,\ 1M% -- %
aka Ba d.-b 4a 1*':!. R 4 9? 9-.'4 4- 4
do Ittl.; 81 I ''is BI*I? 4
do 84a.> 87% 87*2 17% - 4
.ln A Myera 7a...'iyi\, 1:1", i:->4 . 4
do ??<?. 84% 9-'.', aia _ %
m V*_I-. Cm ,11 1 ? .- II... 11
1*000 !
HOfMi
? "?i I. A- N cold 6a. < 111
UoOO
iaa
IBN da M A M lat 44< 104 |ttl 104
1000 .1.. M I, lat 3a. r.?% i."4 ?9%
liym T.oula A Ark 6m....; 93 I N BJ
Kio'i M.in liv 4a tax rxt 96 I 96 96
"W?i M.-t A Tel A T 5a. 182%j 105 182%
l-.t Ua.... KMi7, 100 l">:>
4a. (K"l4 90% 90%
L aaa 6a. io-.- [ms m
ref 4a. n Bta n
K l-t ta IB8U lo?;4 1"?>4
T |in 4'-,s 8&4l a%
11111% uo%;-i%
lo unl 4a.[ Ma ?s ; '.$4 f 4
lo refi.I 9.14! W41 '",1./ -14
lo \t K f dlv 4a 82%I K% K% '.
-1
_4
4_%
-4
. w.i. BBVi vm,' - 4
. 101 1004 101 '
1064 1064 b'''i * 4
174 W.4I K74I+14
n?4 y.,\ -.11, . i4
7? I 7'.'4 72% 4. 4
I ? Meslcan
laeolKii (;?.
1001, BI A BI
ttOM lo lat
BM Me K a
1000 Mo K A .
mm d', ist 4a.I ani '.'-%; Bfa + 4
MM la i'-f 4a.! 7h 7\ I 71 '
MM aa M la. ?
4'KXl! |]o lat r.a.
? ??? \io Paefie eaa 6a.
<lo ref .'.a.
V"??n| do truit 6a 1917...
U 88' da 4a.
120001 do Caat Hr 4a....l 92 ! 92 : I'.'
2000 Uofa d O ik-w ?s.. Ila?? lla*.lllS%|? 4
1000 Mnr A r.n lat 7b...|108% 18*% 10i;%|-4
MM N r A St I. lat 7a. Il0l%'10l%il0l%|- %
MM Ndaaaa BBec 4a....l 79 I 79 79 J ?
.MH?i!\.-it 1; A Stpd 6a..| 93 I 98 [93 |?
3BM Nal Itv of Btaa 44a: 80',l
r.000l do 4a.I 784|
taaa Nal Taaa r.a etfo..l 89%'
10>10 N O M A C to.I 8H*?i
MM N Y Air B convt tol1014llOI4lloi4|4- I
iioM n t n iiAn r%t ttliaai laailittill+ti
90fa)| do del. 4a 196*.I 91 I 91 91 1? '
140001 do eonvt 34a. 82%! 92% ?2%U-2
WaiO.NYt'AHKdeb 4a 1934! 92%I 92 M ?
" a&4[ h6%
78% 78% , .
iisii Itaa ?
87 I 87
1
IMM <!.. K'-ii !4a.I 8.'%
Mtt Ba I. S eol tr I4a! 78%
340M N V <1 K L HAP 6a|l03
MM ?1" I'ur m 4a.I 87
BNI N Y L A W lat Iellll4llll4 W4
BMM N V r.ya ref 4a.j 77%! 77*4! 77V
m
6!aKi0i) do adt 6a
Mtt N Y A y E I^AI' 6a
49000 V Y W A R 44?
IBttttlN Y Tel a*D 44a...
330001 Norf A W con 4a...
200001 do convt 4a
I4*i
100
1004
9h4
97%
117%
510001 do con 4a lat pd.!117
2000 do dlv 4a.I 81%
1000 do t-iiui ta. 1114
S.-.iti.i Noi- Pa lat 48. 8?4
100001 do rea.I 87%
400001 do aen to.[ 6?4
664
100
99%
9?4
87%
1174
U6%|117
814 i 91%
1114 1H4
8*41 9?<4
97% 87%
?V41 19%
774 + %
664 -%
n ?
8?
H\
ti
t?
IM
N
97..
117%
WEEKLY TABLE OF BONDS.
fcalea
Bon.la.
lI'.'hjLow
8B8T9 |WR*B <?? 90* | ?L
8000,0 Ry A Nav con 4a |M M8
L-OOOiOre 8h L con 6a... il09 il09
24OO01 do rfdg 4a. ?2*l ?
?X?;Pao P A Lt 6a. 95,1 g..
46000!Pao Tel A Tel 5a.. 99* 89*
SOOOiPenn R R 1908.| M i 9*
1000 do con 4a 1943....: 101 101
17000! do 1848.|iO3*Ji02*
10001 do cor.vt IHa 19121 99* i 99*
1259001 do 1815.1 98*1 9<3*
ISOOOjP IxHlllard Ta. 120*120*
?4000 do Sa. 97*1 ??*
3*000 P O&C of C lat 5e; 101*, 100*
7000 Peo A Eaat lat 4a 87*1 IT*
7000 do Ino 4a.
lOOOJPortland Ry 8a...
23000;P C C A Bt Ii 8*a.
?000;Poo ool ta.
44000 Pub Ser of N J 6a.
71000llteadlng fen a....
71000 [Rar Con Copper ??
60000'R I A 8tl col la 1840
1000 Rlcb A D oon 6a..
t000|Rlo O W lat 4a....
lnoolRlch A Meck 4a....
8000 St L, * Ad ta. 108
8000 St L. A 1 M unl 4a 80
6ooo| do r a o a. u
6000ISt L R M A P ta. 80 ,
11000 3t L, A 8 V gan 6a! S4*
108* 103*
84 I 83
73
73
108
30
?
80
84*
10001 do lat 6a.i 104* j 104*
J00001 do r?f 4a. 71 | 77*
2000'St L Houthw lat 4a 89* 39*
12000, do con 4s.; 80*| M
20O0!st L Tr Imp la....' 84 l 84
2000!Bt PAK CHL 4*ai 89 19
17000 8 A A A P lat 4a. 87 6?*
13000 Seab Alr L. raf 4a.. 79 7344
89000l do adj 6a.j 77*j 77*
11000! do 4a etpd. 88* i 88
23000 So Ball T of T 6a.! 99*1 98*
2000 S C A G tat 8a.... 102* 102*
1VW) So Pao convt 88... 84*1 84*
I9000| do col tr 4a. M*i 61*!
8W0 do col ref 4a.; 93* 93*
200fl! do S P term 4?..l *>* 88*
11000 Kouthern Ry con tal 108*1188*1
11M00> do ?an 4a. 74* T?*
1000 do M A O dlv.... 17 87 j
4000! do Ht I. dlv 4a... 38* 38
inofl Standard Gu 8a... !10fl*'10O*,
4000 Stand Mllllng 6a.. M* '4S
1000 T C A I ?en 6e....|MB 1"'-'
S000JT Aa of St I. raf 4a !aj ] 96 l
4000lTex a P lat Ra ...107 :108*
17000 Te?a* Co ?a. 100*|100*
81000 Thlrd Ave It adj 6a Tl* 71*
124*88 do ref 4a.j 13 81*
2OO0 T St Ei A W 4a....' 41 ' *0*
10O0 Tor 11 A M 4a.' 19* \ 89*
r?oo Trl C Ry A I.t 5s . 91 I 91 )
6000'Cnd ? ?f L Ino ?a' BJBjl ??*?
1000, do 4*a.J 96 I 95 i
1000 Cnlon Ha* A P 8a 93 93 '
1000 Cnlon Pa.: 4a raf.. 98* 98S
imooo A., lat 4a. 99* W*
:,oo.rf) do ref 4a.' 9ft* 96*
1043>100' do convt 4a.'104*102*
1T0OO O ? Realty 6a.' 89*
?? V | RftR lat a f 8a 81 '31 '
4?r.?i f h Ruhoer a f ??. 108* 103*
JMOfl) V B M*el ia. 103* 101*
!??> do a f la re* 103* 102 :
.-.-.oon Va rir (h'm ia 98 ,98
1*00 Va I ?' A C 6a....' 98 ' 9'*'
2000 V? !t? * P '..? .I M M
l.'-ioo Wabaah lat 6a.'lflft* 106
100 99
Fln.
;s?pt
[ 28._
' 93
109
92*
9.:
, 99*
96
'101
182*
99*1
96*
130*
9?*
100*
87*
48
100*
96*
w
92*
98*
130
91*
103*
84
73
108
80
83
80
84*
104*
71
89*
30
84
89
87
T8*
77*
98*
?*
io:*
?4*
M*
93*
Net
rhfe
I
-t
-f*
-*
- *
4-1*
l\
-u*
^2
-7
+1
-1
f *
-I- *
-M
- *
aaa
?*
86* I
70 '
30
30
?aaa ?:?> m m
134000 .io lat ref 4a ...
8888 <1o refla.Ti'... faat
iioo do Oaaaha n 24
108888 d.. PlataaCTCoeti
4OfO0 do Tnl 1> Oa ' tf
8888 rtfii i laht la .... ** :*?*
4"0r<i ?ra*t MI 4a . W* ?',
I40M Wrat Sh-r? 4a . W*, BI*
?v.10 Woai In ,-..! tr Im "101 100s,
ir?v> Weat Klec '? 101 loo*
?Mtft Waallnah 9fot*a ... 97 I 97
1!WW Weattnifh 83m '?? ? ?4*
?oeo \\ ? i, i; ,.?, 4a UH 88*
?<?io'\?'|, <>nt a?n 4a . ?* 91*
JOO0 .ln | * p dlv 4a ' >li4j 90'^
Total !??!*? of t-^nla. 114 VW.OilO
DEBENTURE BOND OFFER.
J. P M'Tgnn A ("o, of New Tork. and
I.ee Ulcgtnson A <'o . Bf Boaton, are of
ferlria:, ln cnri'-.tlon wltii Mnrgan, Offaa*
fell A t'o, of I/<>ndo.n. t^n mllllon 5 per
cent gold dehenture B49B4M of the General
Beatjie Coaapaar al 99*4 ?nd Urlaraot
The bonda are dated Heptetnher 2, and
are to run for forty years, and lntere:<t
ls payable Maroh and Septemiier I In
New York, Roaton or I/ondon Tiie laaue
1? .aliahle ln whole or ln part at 107'j
and lriter.-.'t on any Int.-reat date, upon
slx weeks noflcc.
In connectlon wlth thls issua lTesident
C. A. Coftln of th?? (Jeneral Ele<-trl.' CQ8B
P8ny alatM that lt has no mortgage dobt,
and, that, wlth the exceptlon of purchase
money mortgaKes and of ple.lgea as ae
curlty for tempornry loana or aa Indem
nlty, no mortgage <an be made without
equa'ly aecurlng these debentureB. The
total funded debt of the company, lnclud
Ing thla lnaua, la H2.452.500, whllo the net
qulck aaseta ln exceaB of the llabllltlea on
December Ba 1911. wore 157.179,760, to whlch
will be added the proceeda of thla laaua,
maklng a total of more than flve tlmes
the funded debt. The annual Intereat
chargea, Includlnf thla lasue, are only
1591,990, whlle tho nat Income laat year
was more than twenty tlmea that amount.
The application list will be opened on
october 2 and aill be closed at or beforo
3 p m. on October 3.
THE PRINT CLOTH MARKET.
[By Telearaph to The Trlbune. ]
Kall ltlver. Maaa., Sept. 29.? Tradlngiwas
steady ln tiio New Kngland cloth BaBfttBta
last week, and the cstlmate of salea ls
plaaai at 135.000 plecca. Tho demand for
the week was chlefiy for wlde goods, and
BBBM sizablo ordera were put tbrough.
The mllls will aocjii be in a puaitlon to
take on addltlonol new buslnesa for late
dtllverlaa, but owlng to the unsettlod con
dttton of ;he cotton market and Ita appar
ent uncertalntlea manufacturara have
been unwllllng to quota flgurea on con
trac.a ln a great number of Instancea. On
tho other hand. buyers are holdlng off to
sotjio cxtont beeausti they percelve ln the
sltuatlon a posslblllty that cloth pticea
will go down under pressuro of lcver
cotton. Last week there were Bllght re
ductions made, and 27-lnch, t>4x60, 7.60
yardB to the plece, aold at 3??c a yard,
a decreaae of 1-lfl of a cent from recent
quotations.
The cotton yarn marketa ruled moder
ntely flrm laBt week and aplnnera have
mado it plaln to pro8:>ectlve buyera that
they do not caro to do buaineaa at priees
whlch hava been named by buyers. Huy
era, on the other hand, havo been pur
chaslng spot goods wherever they could
and have accumulated a Bmall supply of
atock. but when thls ahall have been
cleaned up buyera will ba forced to turn
tholr attentloii to contracta, and they may
flnd hlgher prlces awaltlng them fcrr aome
of the more popular makea. Thero were
fluctuatlona ln tho raw cotton market last
weok. and the reporto of frost ln varlous
cotton sectiona had the efrect of addlng to
the uneaslneafl of manufacturera.
The followlng are cloth quotations fox
laat week: 28-lnch, ?4x*<, 4C, nomlnal; 2?
Inch. WxflO, 3%c nomlnal; 27-lnch, 64x?0,
Z\c; 27-lnch. 66x66, 3fcc; 27-lnch, 66x52, 8*c;
il^-lnclh, 64x64, 6>4o, and 39-lnch, 68x72,
6*c.
i
LOOKINQ FOR A ROOM?
Conault Th* Trlbuno'o Room and
Board Rotjiator. A list of the bottor
rooma.
Tax Day October 1st
Personal property to be free of tax must be inveated
in ta* exempt securities prior to the above date.
We oam and offer, in amounta to auit, numerous ittuet of ?.
exempt Municipal, Railroad and Public Service Corporation boad
netting the investor from 4.15% to 5%. Many of these bondiar!s
legal investments for Savings Banks and restricted trust funda.
Under the new tax law, which became effective September 1, iq,.
practically all bonds not specifically exempted by law may be'ttud*
exempt from tax throughout their life by an initial payment of one-hatf
per cent. We ihall be pleased to consult with investors and to arrana,
for auch an exemption of their holdings without charge for our ttrvfcc,
HARRIS, FORBES * CO
Succesaors to N. W. Harrla A Co , New York
Pine Street. Corner WHIiam. New York
u;-_
NOTICI 18 HBRBBT GIVE.V THAT ON
and after the aeventli day of October, lOlil.
Mr. <'. H. Booth. Whoea offlce la at No. 32
Vassati Street. In the clty of New York,
alial. be the reglatrar of tha bonda IsBiiad
under the flrai conaolldated flve per cent.
Ko!d niort|fa?e of the Troy Clty Rallway
company ta the Ceatral Truat company of
New York. aa Trustei, da'cd TJecember 1.
189-\ In place of the aald Ct-ntral Truat Com
pany of Bfew York.
Dated. thia 17th day of September, 1012.
By order of tho Board of Dlrectora.
WILBON H. ELDER.
Secretary, Unlted. Traetlon Company.
_._ ??
BOSTON & MAINE GAINING
Earnings Larger and Deflcit
Less than a Third Last Year's.
The report of the Boaton A Maine Rall
road Company for the flacal year ended
June 30, 1912, ahowa subatantlal lncreases
ln the gross and net earnings and a deflcit
less than one-third aa large aa that for
the precedlng year. Grogs earnings were
146.990,363. agalnat $44,816,084, an IncreaHe
of $1,175,279; operatlnf expenses were $35,
087,295, a decr^aae of $61,408, and net earn
Ing-e were $10,903,068, lncreaae $1,236,687.
Tha total lncome waa $11,902,356, and
after deduction of lntereat, taxes and
other charges, aggregatlng $10,61_,108, a
balanee avallable for dlvldenda remalm-d
of 11.290,247, e-ititvalent to 2.78 per cent
after payment of the preferred dlvldend.
Dlvldend payments recjutred $1,767,951, a
deflcit remainlng of $477,703. against $1,602.
9*3 the year prevlously.
The balance alieet as of June 30 Bhows
caah on hand of $7,86x,03:i, and loana and
bllls payable of $12,000,000. comparlng with
|R.2fiO.0O0 aa of June 30, 1911; a proflt and
Iobb balance of $1,812,090. and total asaets
and liabilltks of $118,619,614. Expendlturea
for addltlons and betterments were $3,J50,
000. against $10.99*>.oS4 in the precedlng
year. New eo,ulpnient costlng $1,849,510 was
secured by the company ln the course of
the year.
In his report to tbe atockholdera Presl
dcnt Mellen says that beoause of the In
t-nased rharge for uso of frelght eciutp
ment agrced upon by the American Rat!
way Axsoclatlon It will be ntcesaary f?r
tho company at ome to purchaae at least
six thousand frelght cars, eatlmau' cost
$6,*j0,n00, and that the atockhoiders will
BSJ asked to apptove an lsaue of $7,5O",m00
beada for m.etlng these and other nceds.
HOW TREASURY CAN ACT
Methods of Releasing Govern
ment Money for Moving Crops.
The (H-tob.r clrcuiar of the Natlonal
t'lty Bank. ln dtscusBlng the subjeet of
Treasury all fur movlng tbe crops and
tltt ways ln whlch that ald could be
gtVBBBj BBaJTB
L'p to thia tlmo i.o auch pie>alng Blt'-ia^
t'.i.n naa devrloped as would urgetitly ra
tjulru tba cuatotn.uy Treaaury ald. Be
lure the cropa ar?- rnovt.l. Imaevt-r, tbe
BitiaBUoa may cbatigu to auch an ext.tit
aa to demand the reieaee of some portloii
<>f thi lara. -.:.-.:- of caah now !.??!?. ln
tba iTaaanry, As poinud out in the Au
guat numb.-r "f thls clrcuiar, lt had beon
the Bvaetlea of the Treasury for thrae
i.:.u i'-is of a eeaturT in tuaaa of deftctent
nuxiey supply to uae any aurplus the
Treaa <r> may hare ta ald In moving
cropa. ttrdltiHrlly thia haa been done by
depoattlna pubne funds In the depository
b.ink.a. tukltig as Bccurlty therefur Unlted
States bondtt, When the supply of L'nlted
S::it>-s bonda haa not been aufTUlent for
the ptlTPOee the Secretary of the Treaaury
h.ta raaorted to other aacurltlaa, eueh aa
Btata, munlrlpal atid ratlroad l>onda. An
other ini'th.d of releii.airijt Ti.-.i.Miry aur
plus funds has been to antidpate inter.at
OB t?i?- juibllc debt. Tl'.ls form of rellef
haa never been appreclably effectl\e. An
othar meana of dlBburaement. formerly
etnployed to advantage ln tlriiea of money
atreaa, waa to pttrchaaa or rcdanm Unlted
States b.m.ia This was a favorlte aaathod
ten ari.l tw.-nty years hko UurlnK p^n.>dB
of extraordlnarlly t-xceaalv.. r.-vt-nues. It
?arvad tbe double porpeaa of rt-llevlng
atrlriRency and of redudng the publlo
dnbt and the lntereat tbereon.
Kone af the three methods mentloned
Ib so effective as depoaltlng money ln the
banks. The latter are lmmediately ln
toueh with tiie demand for crop movlng
and BBtteh more .-Iob.-Iv rela <-d to lt than
many of tlie holders of gove-nment bonda.
HesldeB. when the Treast.ry purchases
bonda it parta with lt? funda Bltogether.
and cannot aecttre their retun to the
Treaaury. aa ia done hy wlthdraivlng pub
He moneya from bank denosltaiies.
There are other methods of rellef than
the three already rlven. The facilitatlon
of gold Importa la on?? of them Thls is
done h>- maklna tenip.rary depoatts of
pttbllr funds with banks for the ptirpose
of enahllnjr them to purchase fnrelun bills
ngalnsf whlch gold nvist bo shlnped. tiie
br.tiks roturnlng the depo?lts to the Trens- '
ury tipon the arrlval of the troli*,. Stlll I
another Tre:?sury rellef measure ls to j
Btlmulate natlonal bnnk clrcttlation Tlils
.iIko wn? ? iTcctlvely used to allay the
pank <>f IMT.
M0HEY BELIEF PLAN.
In nn artlcle denling with the present
money o.uestlon, whlch ls ln a debatable
fitnte, Bache's Ttevlew aaya ln part:
Take the present situatlon. If we had
an orannlzatlon and a Natlonal Hesct ve
Ansoclatlon, with branches, aa iroposcd
hy the Monetary romml!?slon. lanka In
the Interior, where actual money was
needed to move the crops, would slmplv
send to the branch of the Reserve Asso
clatlon In thelr vlclnlty enotigh of the
buslness papaf prevlously dlscounted hy
tliem to furnish them with funds. and the
branch would lmmediately forward to
them, free of charge, an ?H|tilvalent
iimount in Reserve Aasoclatlon bank
notea, whlch could be sent into the coun?
try for uae ln movlng the crop. All
thls would make no demand upon the
actual rescrves held by the banks them
sclves or held ln the great money centrcs.
When the crop movement was over.
these banknotes would bo returned to
the Reserve Assoclation for redemptlon
and thelr payment would be provlded for
by the collectlon of the buslness notes
dlscounted by the Interior bank, whlch
notes would then have cotne due and
been paid. The whole operation of mov?
lng the crop, entalling the use of mllllons
of dollara of actual money, would have
been perfected without ructlon and with?
out calllng upon the New York and Chi
cago and St. l.ouls banks for one dollar
of thtMr rcserves, whlch would remaln
undlsturbed aa a basts for other buslness
loana.
Aa It is now, theae reaervea at the
moaey ccntres form the basla for four
tlmea the amount ln loana, whlch must
be called ln (and which are belng called
ln), In order to aend thls actual reserve
money out into the Weat and South to
move the cropa.
Could anythlng ba falrer than thia or
more eaay of accompltahment by dlrect
THK OMAIIA WATER (OmST1
CJBRTIFICATES OF BENEriCUlfl.
TERE6T. rl'lALl BV
PF.COND PREFERRKD STOCK
Notico la hercby given that. upon ara^
tatlon ;.t the offle of the und?r?l*n*d v
VI Wllllam Straet. ln th* rity ofV,.;^
of certltl.atea of benenclal Inurea't Dart^
Ing to Heeond Preferred Slork 0f The oW^s
Water Company on or aftar Octobiri
IIH2. a pa rtlal payment of Ti,t,i,.?.. r.7>
waier ..ompany on or aftar Octobar T.
IIH2. a partlal payment of Twenty.flva rvi
lara per el.are, equal to 50% of tha par v?t
of aal.l certtticat?B. will ba mad, ln* ljSL\
tlon wlth the dlaaolution of tha Water Can
panv, au>h payment to be endoraed oo tki
certlflcatee. ***
New York, Soptember 23. 18i?
THE 1ARMEHS' T.OAX AND TRL'BT Cftti I
:? v*>1 '.g n' - '"*'
CMEXT HAS 81.000 TO 83.000 TO tOlBOSt
mortgage. auburban dwelllnr, ACKBRJIA1I
1*7 <;...eriw|.-ti v., N?w York_*^^'
ltgislation? But our leglslatora and po!.
iticlans will not see tt.
Money ls now at a stlff 6 per cent oa
ciill, occaslonally sputterlng to 7, wlthtb*
tendency towards hlgher, tnstead ot
lower, rates. The Treasury has tlfty mlll
ions locked up. whlch it will use to rt?
lleve the situation when it may i>ecotna
m-cessary, and we have already entxiel
or Imported around J4.0C0.000, wlth tho
posaibllity, whlch has become a proba
billty, of bringlng over niuch more.
But we dlsturb the whole commerdal
world wlth our antlque system ard bax?
barous antl.s in money, and lt Is blfH
time that potitlctana and the peoplewaked
up to th* sony hpecta'le whlch w? pra
sent to the civilized world.
U. S. MOTOR PLAN
Reported Details of Capital of
Succossor.
Of the $2S,OAono capital ?tock of tbe
.?ompany whlch is to suc-eed the Unltad
Statea Motor .'ompany after tho reorgan.
ization. It has bon unofficlally reported,
Il0.00u.000 will be 7 per cent cumulativt
first pref.'rre.l, $X,Ooo.' 00 ?> per cent noe*
cumulatlve s-econd preferred and RO.BJC,.
000 cotnmon. Sto.kholders meeting tba
asaeasniont to be levled upon both claaaa]
of the pr?-sent sto^k, whlch, as announeai
? fiallllghl a?o, will b" 122 50 a shara, will
reccHe new stock of alt threo elassee, tbe
prf ferred getting larger allotmenta tbta
tho common.
Ol the Unltad States Motor Campanjff
obllxationa. about $12.<">>.i>)ij. the 8S,O0O,aj
debenturcs and the |4,BrJ*J0 notes held bjr
tho banks will, tt ia said. be exchangal
for new Bto. k, and tha 'lalins of the m?r
chandUe creditors, amountlng to about
BJJMkBBB, will be p-ii<l n ''ush.
0
NEW HAVEN T0 BUILD H0TBL8
Only, However, as Aid to Developini
Railway System.
The New York, New Haven A Hart*
ford lUllroad Company, lt ls reportad
from Boston. is plannlng to bulld two ex
penslve hotels In pursuance of lt* pollcy
of acqulring or erectlng hotela whero
they are needed aa an ali In the rallroad
.??>xtTn's 84? ?lopment and the need cannot
be met by private enterprise.
A hotel ia to be built by the N?w
Haven and Boston & Malne at Bar Har
bor whlch will coBt 11.000,000 and will
not be turpasaed by any other hotal on
the Atlnntlc Coast. Another. whlch whl
have one hundrcd rVKMBM and will be so
planned that lt can rendlly be enlarged,
ls to he Braetai by the rallroad system on
the top of Mount Washington, and an
electrtc rallway will be r.nstructed at a
BBBl of $l.*.n.),oon which will glrdle tba
mountaln and oarry tra\rl!ers to the hotel.
MISCELLANEOUS ST0CKS.
(Purnlfhed by Ftvdeno H. Hatjh A Co.. 881
York and Baetaa.)
Int. Int.
rataparaai Btt Aixet
Atn Bank Note. 4 Q-J M ?
Aiu Hank Note pr^f.... * yJ f>2 69
Aaa Hraaa . U Mo 137 1?
Am Cht.-le. U Mo BJ ?
Ani Chl.le pref. 4 g-J 81 BJ
An. Dlat Tel of X J... 4 8-J ? ?4
Am PreOS. ? Q JAEx ?0 78
Am Thread ->ref. 5 JeVl *\ ??
Am Typefoun.lers. 4 JAT 44 88
Am Typefounders rref. 7 Q J 8J ?
Am T>pefoun.1era d ?a. ? MAX 100 1?
nabcook a wtieaai. 7 q j aa t"
Harnay A Smlth. ? ?? 12 i.
IMrney A Smith nref... 8 Q-M W 98
n-.rden'B Cond Mllk... 6 Q M 1-2 JB
Rc.rden'a Cond Mllk pf. 6 Q M 1?'9 BB
Btiah Termlnal. 4 JAJ ? >?
C?nt Flre?orka. ?- I J
Or.l Elre?orka j.ref.... ?- ',
Coaa Ry A Lijht. 4 Q-P ?} M
CelluloWl . * ?B8 MBJ 144
Du I'ont Powiler. 1 Q M Bj ?
' Hu Tont Powder pref. 6 Q .
I Emplre >fel A lion... ? ?
Emplro I A I pref.- 40 O
! E W Hllaa. ? - ? J
! 8 W BHaa pref. 8 Q J 120 1?
rVdtrol I.lnht i T. - - 35 >'
?peJaraJ L & t pref... ? ? ?? ?
Int Nl.-kel. 8 AEx 320 Jf>
Int Nlrkel pref. ?- BB J?J
Int Sllver pref. 7 Q-J 135 "J
Klrby I.umber praf.... ? - V> M
Klnts ro E L. 8 MAX 130 -
\at Caah it*a pref.... 7 JAJ 128 ?
Nlloa-Heinent-P . 8 Q-F 84 ?
Xl'.ea Hemetlt P pref... i Q f 9< J*
<>|.| Domlnlon ?a. 8 Q-F BJ ?
otla Elavator. 8 JAJ 88 aj
pao O ? ?.- ? ^^ I,*
PaeOaBiaal. 6 qf 9: ?
PhHpa D & Co. 10 Q-MAEx 217 ?
Pope Manufacturlng.... ? - 35 ja
Pom blta pref. 6 Q J 74 ??
ProdtKerB' on. 6 C-M BB -
Pratl 8 Whltney pref.. 8 Q F BJ lw
Hov.il Huklntr l'ow.ler. |] QMAEx21S no
Roial Haklna P.'W Pf- 6 Q-MAKx U8 ?
^ufely C H A L.. S Q-MAEx 11. UI*
Son seii Chlclet. Varioua 120 |?
T*aaa a Pactae Ooal... * s-oipt r. ??
Tr.nton Potetrlea. ? - 6 ?
Tronton Potterlea pref. ? - 5-* 2
Tiwatoa Pot F.l? ctfa.. 4 JAJ 40 w
Tr..w DIr.H-t.in'. - - ? S
l.ilon Forry. 2 Q J m
I'tilnn Tvpewrlter. ? ? 41 ?
?Uatoa Tyi'.'W lat pf... 7 AAO 109 l'l
?fnlon Typew 2d pf... 8 AAO 10- l*
I- S Ftnlaliltia. 4 U J J-; .J
u a ni.iai.iiiK prof. 7 g-j w ?
U s Plnlahlag at 5a.... - JAJ aBB ?
1' S Flnlahlng con 6a.. - JAJ ? ??
Vlrjinla Rallway. ? - '; 'J
Weat Paoln^-. - ? ^u
Weat Power. - - fM ,?
Wcat Power pref. ?- BPB
?Ex dlvldend.
a
RAILROAD EARNINGS.
3d week of Sept. - Jfft. '"a^iM
Buflf.. Hocl. 8 Pltta. P8Bf 835.40B
.'anadlan Northern . .Bfi oiJS
Cai.ai1.an PacBto . MBgg H
Centra! of Oeorgla. :W.ooO HBJ|
Cl.eaa|ieake A Olil.)..... '-A? VeSl
Chle.. Ind. A I-ouiavllle.. mB JH
Colorado & Southen.. ?W.gJ w>0
DanverAHluC.ra.ida... aBUBB JJ^
1-ululh, 8 S A Atl...... .1333 *8W
Orand Trunk of t'anada
ulratid Trunk Wcatern.
Det . Ur Hav. A Mll. M aJB
and Canada Atlantlci.. l.Wl.Wf g.?J
lnternat A Ot Xorth... 37^)00 #??.gj
lnteroteanlo of Mexlco.. l?hei? "jjjj
Mlneral Run?o . W.^*8
Mli.neap.illa A St. LoJta $A.ttt
?iowa Cantral) . M7.J*! JJjoS
Mo. Kan. A Taxaa. ?T0.?01 JJ^
MlMourl Pacinc . }-2?-$Z um
Nat. Rallwaya of Max *???*& uffi
St. Loula Southvreatera.. , f*8-0"? 4*187
Southern Rallway. I^SHB 14.801
Texaa A Paclfk. ?M.t? *fr?
Tolado. Paorla A Weetara M,?I aaaaj
?Dtcraaat.

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