The sun. [volume], November 22, 1897, Page 7, Image 7

About The sun. [volume] (New York [N.Y.]) 1833-1916

Image provided by: The New York Public Library, Astor, Lenox and Tilden Foundation

                
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XX0 XHOHUjfA. BASK rAxivttx.
m ' 1twtoekatM'kt,Uikwk,heMlUoaitomsrr
m caYon. tho only excitement In It havlne been
j, caused by the movement ot Consolidated Oaa
M and ot Bay auto Gas, both ot which leem to be
mi about on a par in respect ot rapid fluctua
B I tloni following; rumor of tho success or the
H xailuro of Imaginary dealt and combination.
H People vrho buy or sell either of these securities
, ought, by this Ume,4o know that they are run
H; nlns a risk of vrhloh they cannot eittmate the
' magnitude, and that whether they lose or gain
I the result will be as muoh one ot chance as if It
l ! were determined tiy the throwing ot dice or by
la i the enttlns ot a pack ot cards.
While, howerer. Wall street has thus been
' eomparatlTely tranquil, oar fellow citizens In
I ,; Orawford county. In the southern part of Indl
KyF nn, bare been bavins cenutnely llvoly time
1 oyer the failure of three little private banks, or,
t I rather, of one auch bank and lu two branches.
fw , The total liabilities lnyolred amount to not
K much oyer $170,000, but, as the whole popula
lib tloa ot the county, as alven by tho last cen
B aat, is only 14.000, and the creditors ot the bank
Hj ' runt Institution are numerous, the fntlnre has
IS produced a demonstration which according to
k tho early accounts, alnoe contradicled, led the
B Sheriff of the county to tnrar in fltty special
depntte to preserve the peace. A mob of do
1 poaltora. It Is said, paraded the streets ot the
8 " town of English, where one of the branohos of
1 ', I the collapsed bank was eltuated, and Its
B offlcers had to flee for their lives. The
,, County Treasurer had 913,000 of the -county's
, j money on deposit In the bank, and four wed
B? i dings have bad to be postponed, because the
I 4 ' prospective brldesrooms could not draw nut tho
I funds they bad put aside for their expenses.
I' In their Indignation tha victims ot the failure
If ' bald a meeting, and subscribed money for the
I J ' arrest and prosecution of the bank's officers,
J y who, for several days, wisely concealed them--(V
I selves. At the latest dates they had returned, and
It, ' the county was subsiding; into quiet. Friends
B?' of .the bank promise that its creditors shall re
Mi, i oelvo a dividend of 75 per cent and some talk
ill t of payment In full, but at the time ot tho fail-
If 1 uro the cash on hand was only 912,000.
Ht ' The Incident, occuriue as It does just now,
Vi trhtn so much Is said about the desirability
I.Y v ot creating mora little banks, to supply the
sj; seeds of rural communities, is highly Instruc-
1 1 tlve. It Is true that the Insolvent Indiana banks
U were not corporations, either under the laws of
Ii the State or under the National Bank act, and
If, therofore no Inference can be drawn from their
I J collapse, respecting the failure of either Stato or
national legislation to prevent it. Nono the
tt' less, their fate, coupled with that which has
m overtaken hundreds ot other country banks in
H" recent times, shows the risks that attend bank-
S tng on a small scale, both to the banker and his
depositors. Here in this city even, within two
Bk yean, half a dozen or more of so-called banks
j managed by Italians have closed their doors,
leaving thoso who have confided their money to
K them to mourn the lossot the whole or the
greater part ot It. As in Indiana so In New
York, a large capital la requisite In banking,
both for safety and tor profit.
fl.Bj v The business of banking Is. legitimately,
Vr nothing more nor leas than dealing in money
. and credits. The true banker accepts deposits of
I money on the undertaking to repay them on de-
V mand, lends money to borrowers, ana buys and
1 sells notes and drafts. Everything beyond this
fl Is not banking, but a moro or less remote ad-
Ill's- Juncttoit. Thus, many of our New York bank-
I ers deal in stocks and bonds, finance railroad,
1 mining and Industrial corporations, and Job
Government, municipal and other corporation
I, loans, for all of which operations their banking
t machinery affords facilities. For many yean,
I too, the Incorporated banks of this country have
1 been permitted, without being Government
' agents, as the great banks of Kuropean nations
are, to usurp the Government prerogative of
Issuing paper currency, but this is no more
? banking than the soiling of drags by a grocer
makes them groceries. Many of us con remem
ber the time when not only grocers but dry
goods dealers, hard ware dealers, and even saloon
keepers. Issued what were called Mshinptasters,'
which, for a while, did duty as currency, but
nobody supposed that the operation was bank-
0 lng. Even now, our great New York banks own
and rent office buildings, but they do not claim
a monopoly of the business because they are
banks. Like the issuing of circulating notes, It
Is profitable and convenient, but it Is none the
less a stretch of the banks' corporate powers.
The profits of legitimate banking, like those ot
, a merchant, are confined to the difference be
tween the prices paid for the articles dealt in,
, and those received for them. A bank usually
allows either no interest at all upon deposits, or
else Interest at a lower rate than that which it
charges for loans. If it buys commercial paper
It sells it again for more than It gives for it, and
for drafts on its correspondents, it receives a
commission. In these daysof flercoeompetitloa,
the profits ot banking, confined within its strict
limits, are very small, unless tho business Is
very extensive Where tho differences between
buying and selling are calculated in fractions of
1 per cent, even a turnover of 91,000.000 yields
an Inconsiderable sum. Hence, the addition to
banking, in most cases, of other business for
I which It affords facilities; and hence, too. the
4 ' urgency with which small banics contend for
the privilege ot issuing currency without se
curity, and in unlimited amounts. By the exer
cise of this privilege they would obtain capital
which costs them little or nothing and could
use it to corresponding advantage.
I, In rural districts, legitimate banking cannot,
, ; under the most favorable conditions, be carried
' ' on so as to yield a profit that makes It worth
";, -' while to embark capital In it. Its transactions
'' are limited by the wants ot a community of
r frugal habits snd which has llttlo trado and no
manufacturing. Ilenoe, In such districts, the
so-called banker joins with his banking business
' that of speculating in agricultural produce, ot
I ! making loans on land and of lending the money
1 deposited with him to operators in other local!-
I ties whose credit is doubtful and who, in con
sequence, pay high rates ot interest. Just as the
4 little Italian bankers in this city act as agents
. for steamship companies, deal In exchange
drawn by other banks, and, too often, speculate
on the Stock Exchange or the Produce Exchange
, with the money Intrusted to them. When such
; banks fall it is not through their banking oper-
I - atlons but from outside causes.
The National Bank act wisely requires that a
i , bank organized under It shall havo a capital ot
j '' not less than 950,000. An outcry has recently
., been made against this restriction, and men
Who ought to know better have demanded that
, tho limit be reduced to 9:25,000, In order, as they
say, to permit national banks to be established
In places where a larger capital than 925.000
cannot be used profitably. They do not consider
that the rent, salaries, and other expenses ot a
bank with $25,000 capital will be fully as large
as those for one with 930,000, while Its earnings
will be very much smaller. Supposing the
'. if 925,000 bank to have, besides Its capital, 950,-
000 in deposits, which is more than the average
proportion of deposits In agricultural sec
tions, and supposing it to lend its wholo
capital and three-fourths ot its deposits,
or a total ot 902,500, its .'gross earn-
logs at 8 per cont. per annum, provided it
allows no interest to its depositors, will be
95,000, out of which it must pay for rent, say,
9500, salaries 92,500, and taxes, stationery, and
incidentals $300 more, leaving but 91,500 for
dividends, even If no losses by bad debts are In
curred. This, In a place where 8 per cent. Is the
ruling rate ot Interest, is altogether too meagre
a return to tempt investment In such an enter
prise; and If, to Increase it, the Institution em
barks in speculations In grain, cotton, pork, and
similar articles, It runs a risk of ruin like tnat
which has just overtaken the banks ot Crawford
county, Indiana. It might make a little more
ft by taking out circulation against a deposlt-ot
United States bonds; but the possible prollt
from this source Is hardly worth mentioning.
All this, It may be said, only strengthens the
' argument In favor ot allowing banks to issue
currency without restriction and without
I security beyond their own assets. Since the
' profits of legitimate banking alono will not war-
rant the establishment of banks In thinly popu-
lated and poor localities, there must bo added to
(b them those which can be obtained by supplying
'"- P6er money to the whole country. In thla way,
Jj a buk with ff'AOOO capital and 950,000 ot do-
posits couW lend oat, barties the 92,B00ltean
now lend, 935,000 or 930.000 ot currency which
would cost It nothing but the cost ot engraving,
paper and printing, and which would add to Its
Income 91.B00 or $3,000 beyond the profits It oan
mako under the law as it stands. That tho per
mission to do this would bring back the chaos of
nncurrcnt paper money which afflicted the
country .prior to the Imposition of the prohibi
tory 10 per cent, tax on 8tate bank circulation
need not be demonstrated, and thero is no likeli
hood of the permission being granted.
It is Indeed a hardship forour small country
towns not to have hanks In which their citizens
can deposit their money for safekotptnic, and
from which thoy can borrow It when they nrcd
it, but It is a hardship Inseparable from the
nature of the cose. A small town can no mora
support a bank, than It can support a first-class
hotel, an electric railroad, a gas company, or an
opera company. These are luxuries tor which a
large and wealthy population Is an indispensable
prerequisite, and so Is a bank. It a so-called
bank Is to be established In a small town. It
must look for Its profits outstdo of the town,
and, in doing this. It has to take risks which
prudence does not justify. The town ot English,
hereinbefore mentioned, has a population of less
than 000, and that a bank set up there should
fall was a fotegono conclusion.
If, again, it be assumed that a bank is n nec
essary part ot the machinery ot civilisation,
llko roads, 1'oit Offices, and sehoolhousos, then,
like thorn, it should be established by the Gov
ernment and supported by taxing those who
receive tho benefits it affords. This might be
dono directly, by paying the bank's rent and the
salaries of its offlcers out of the publio purse,
or, indirectly, by furnishing It with quarters
rent tree and exempting It from taxation. To
support it by granting It the privateer's privi
lege ot preying upon the commerce ot the
country through the issue ot Its unsecured notes
clothed with the sovereign attrlbuto ot money,
savors of tho dark ages, when the robber barons
of Germany subsisted on the contributions thoy
forced from the travellers who were nnlucky
enough to fall into their power.
Matthew MARsniu.
rlXASCIAL A Alt COMXE11CIAL.
Men Yerfc Stark Escbanga Hales and flange t
rrlres All Bi-it!e Dealt In Duriagtbe
Week Balns Rev. SO. 1BOT.
UNITED STATES AND STATE BONDS (IX 91,0008).
Opm- Utah- Low Cl
Sale: Xamt. nfl. ttt. . no.
33000 UH4i,r. 1007.1 13 US' 113 113s
SOOOUB4S.C.1D07.113H 1131 UBS 113'.
SBooons4.c.ioes.i27's les iS7Ts laa
BS00USB,r 114 114S 1141 11 -IS
S8000U8B., c 114 114H 114U 114H
eOOOAla.clauA...10S 108U 108U 108
S5O00Loulicnta...lO0a 1001 100 100
08000 Term Sets.... 86 85 861 85"
tl000VaFd2-asot
1M1 C71 074 07 67
RAIUtOAD AND OTHER CONES (TS 91.0008).
Optn- nigh- Iiw Clot-
Balti. Atame. . ttt- ft. ta-
481 Atchison adj 4s.. 64V. 64s 634 64S
608 Atchison gal 4s.. 60 80 80 86
3AmerSM0s 76 76 74 74
IS AmsrTob scrip.. 76 76 75 76
6 AUftBanv lit... 07 07 07 07
8 Ann Arbor 4a..... 88 82 81s 81i
3 AlbSaicn0...He"4 1104 1104 1104
1 AlbftSmcn 7I..123 123 123 183
llAmCOS. 107 1074 107 107s
24 Austin H V lit 844 84 844 84s
aB'yTlATcnB1201 120's 1201 120s
13 0 tO.Pbr.... 1074 107Hi 107 107"
6Buff:Phgnl.....l00 100 100 100
II Bait Belt lst,Ot.. 70 80 70 80
6BaltOSWlSL. 00 00 00 00
1 Bnr.CniNlrt. 1004 1004 1004 1004
lOS.CBN.et0e.lOS 106 106 106.
2 Beech Creek 1st.. 108s 108s 108s lOBS
2 Brooklyn RT Si.. 00 00 804 804
27 Brook WaWOi. 004 90S 00 00
OB-klynEllst.tr. 80 81 80 60s
01 Brook UnOas 6s. 1104 110S 110 1104
31Chs&OcnBs....U0 1104 110a 110
OSChsAOgnl ias. 784 79 78 "a 784
32 Ch O. B (t A
men 4a 1..102 1034 102 103
1 Chi ft O 01. 1011.1 10 110 110' 110
8 Chs ft O. B A
SdcnU 01 01 01 01
1C ft Alt 1st. sf. .112 112 112 112
40.B:Nos 100 100 100 100
0CBftQenv9..107 108 107 108
02C.BftQtl.Hei. 04 044 04 04
llCBftQT 117118 1174ll8
1 C.BftQoxU.... 03 03 03 03
26C,BftQdebS..1034 103 103 103
OC.0,0 ft BtLii.
CtLdlr 94 04 04 94
20C.CCftIlst....l04a 104 104 104
67 Can so in 110 111 110 110
OCaaSoSd 100 107 100 107
B Col ft Mb Av 1st. 11 8 110 118 119
42CbleTsrln.tr.. 44 44 43 43
10BIa.rftHSs.106 106 106 106
64CeaPaogold.9Sal02 102 103 102
6CPaoex0s,sctfsl00 100 100 100
10 Cen Pads 100 101 100 101
34CbftElllgnlS4.101 101 101 101
SO CommerCabl 4106 106 106 106
10 Com Cable t,r.. 105 106 106 106
3 Col Coal 84 03 93 03 03
HColftaranTUt.110 117 110 117
10 Col Mid lrt.tr... 01 02 01 03
HColUld4.alp.. 20 20 20 80
OOOLftOCo lit. 104 104 104 104
22CnleftErllst..,110 110 110 110
40 0enOaBylsttao 38 38 37 38
44CaaaRyZd lao 13 13 18 12
BClearaeldBO 4s. 83 83 83 83
12 C. IndftLOs 06 06 06 OS
2 Den ft Rio O lit.. 108 108 108 108
0 Den ft Rio Q on... 87 88 87 88
16DulfclronRlit.l02 103 102 103
1 Detroit On Oi... 01 91 01 01
10DulS8ftAtlBs..l03 108 103 103
10Ellt.LJtllBUt,.100 100 100 100
10 Erie en 1st 143 143 143 143
13SErlprlorbds.... 00 00 00 90
11 Erie xnl lien 8-4. 70 70 70 70
QETennS 100 100 109 100
21FlP3lUte...lll xn 1U 1U
3 FUnt ft PJtP BS 70 70 73 70
lFlftPUoi 84 84 84 84
7 Ft Worth lit 70 70 08 00
17"tWftR0 1M.. 67 67 67 67
1 Ft Wayne 1st.... 142 142 148 148
26 0,B'SA1IPS 00 01 00 01
enarltmlit. c....U7 117 117 117
6IlftStJcnts....l21 121 121 181
llUTCentlitBilll 112 111 112
07UftTCentgnMs 77 80 77 704
HrMtlstx4s..l07 107 107 107
31 Iron Ht Si 86 80 85 86
37 111 Cen 8, 10921 02 103 102 103
77IowaCeot 1st. ...100 100 00 00
III Kan I'ao oon.tr.. 88 00 88 80
86 Kan ft Tex 4s. .. 80 80 8U 80
80 Kan ft Tex Ids... 01 01 01 01
16 Kentucky 0 1st.. 88 88 88 88
60 Kan C, PftO lit 70 80 76 80
161-aclcdOMltl..l00 101 100 100
lOLexArft PFUtllO 110 110 110
3LWUenas....l01 101 101 101
2LWBmSi 87 87 87 87
42 L Eft Wist 118 118 117 117
1 UkoBhdlrbds.,104 104 104 104
70 Lake 8b 3s..... 106 106 106 106
l2LouftNcn 101 101 101 101
1 6 Lou & N B 4 84 84 B4 84
6LouftNgnl 118 118 118 118
SLonftN.NUftU
dlvlit 121 121 121 121
BLftMetos 00 100 00 100
J2LN,EnNlitll3 113 113 113
0 Long I.I lit 101 101 101 101
1 LlloRlTdi,107 107 107 107
7 Leu T of NT" lit. 103 103 102 103
SLeblfbftXYlit. 00 00 00 00
243Utt3llwy 6s.. .111 113 111 111
8 Mo. K A K lit..,. 01 08 01 01
12 JIlnofcStLca 5100 100 106 106
OOUo,KTofToi 80 81 80 81
15 Man Rwr 4i-.-. 04 04 04 04
1 Mil El lit 118 118 118 118
13 Wet El 21....,..., 103 103 103 103
8Mob0 1it,.V.124 124 124 124
25 MobftOblo snl,, 71 73 71 73
2tich0 6,!V31..121 121 121 121
llsIoPaocn 80 80 80 80
11 WlftNlit, 1910121 181 181 121
20 MH A LS lit.. 136 136 134 134
lOUorgLftTTs.. 1 14 114 114 114
1 1 Nor Pao lit, o. 118 118 117 118
6 Nor Pae lit, r. ,118 118 118 118
20 Nor Pao Tar 1st. ,104 104 103 103
274 Nor Pae prior 4. 01 01 01 01
87 Nor Pao got 8.. 68 68 68 68
e6NortasvVcu4. 77 77 77 77
104NYacaI 84 87 84 67
6NY!Ckta,...il8 116 118 118
t, Mill & J iiMfc" A- J-4-.-iAr.. i4i .y. . ..... ,
ftps- ,JBV taw
sal, imsw. trta.-t.nt.tuo.
821 NJOengntB,r.llO 110 100 100
iafOa.gnlos...US 118 11H 112
3.0KTOsntJlst,e,..llB 110 Al 110
60NYCnltt,r....llB 118 118 11B
1 M Y Cant x 4... 102 108 108 108
6XYCatdeb&..109 108 100 100
8NaahCbtlst..l8B 189 188 183
13 Hash Oast en.. 1 OB 108 108 108
ONY,ChBtL4a-104 104 104 104
tMT.KUtnii
debctfi 140 140 140 140
10 Nor Bitot Cat Be, 03 03 03 03
43 Northern Olst... 00 OS's 00 09
10 Nat Stitch m lit. 107 10T 107 107
UNWato 110 111 110 111
10 N Wen 143 148 143 143
lNtVex4 106 106 106 106
& NTT gold, r 118 118 118 118
loXWittar US 115 116 116
2 H W f db &,
!" ...110 116 116 116
11 NWdibBa BSyrlOS 108 108 10B
HHY,OftWr4.. 08 00 00 00
14NY.OftWcnOa.10B 100 109 109
0OMlucn,if...l03 103 103 10S
3 Ohio AM lstspdl01 101 101 101
OlOrRftNis 03 03 83 03
3OhloBBRltt...l0& 106 106 106
00 Oregon B1.0i,...120 180 180 180
lieOBLcaRi 08 93 08 03
33 08Liaoa 60 67 60 67
SOOrBUtnob 38 3B 37 37
0 0relmplit.tr.. 102 108 108 108
3 Ore Imp tn. Id I p 40 40 40 40
16 0rlmpB.,Sd1p. 48 48 48 42
61 Om ft St L Ut.... 82 83 80 88
44PaeotUalst.,..107 107 107 107
8Po.SftB lit... 103 103 103 103
21 Feo.DftBed.tr 13 13 13 13
8 Pine Creak Res. 137 187 137 137
8 Po ft East 1st... 77 77 77 77
0Pnna4s.r....U2 118 112 113
6Pana4s 114 114 114 114
10 Pitt. A Wn lit... 70 70 70 70
16 P. C, 0 ft St L
4s.srD 110 110 110 110
21P.0ft01stcn114 114 114 114
SP.O01stQt...lll HI 111 111
lOP.SftLX H... .104 106 104 106
3 R ft Pitta lit 120 120 120 120
3 Rock Wind B... 132 183 138 133
64 Rock 11 x 5 100 107 100 107
86RockIlsx6s.r..l08 100 100 100
1 Rock 111 debtH... 103 108 103 103
lC3Readgnl4 84 84 84 84
lRnsftBlit,r....l4a 143 143 143
07 Rio OW Ht 81 81 81 81
32 81 PA Minn en.. .134 186 134 136
78oPaootCallst.l08 108 108 108
63 8oPaeorCalea. 00 91 00 01
208oPaoofNMUtl07 107 107 107
30 8oPaeotArixlatl00 100 100 100
6StPftHAUxs 03 03 03 93
19tPftUaeaes..l87 127 187 187;
8398tLBFs 70 72 70 78
lOBtX.ftBFtdclB.114 114 114 114
69BtLBFgnlea.llO 110 110 110
108StLftBFgalO..101s 108 101 102
18P 1st 8s 102 108 132 108
408tPgal4 104 104 104 104
268tPlit.UftD7il30 181 130 131
fiStPUt.CftllrtSilia 113 118 113
3StPlrt.CM?ll30 180 130 139
10 St Peon 140 140 140 140
IStPtana. 113 113 113 113
10 81 p at. Oft P.
Wd H0 110 110 110
1 StPlst, I ftDxl30 130 180 139
2Plrt.0Md...H0 110 119 110
07 Bt La Wirt..... 73 73 78 72
868tLSWSd 87 87 27 87
10BtPftOaISd....l04 104 104 104
48Und&ftTcs... 00 00 00 00
208todBTla... 10 13 18 13
174SAftAPlrt4a... 00 00 60 00
fiSOftOalst OB 93 03 03
3 4 Booth Railway t. 01 08 01 02
88BtJftaiS-8-4a. 07 08 07 08
113 Tax ft Pao lit &. 05 00 06 00
162 Tax Pao Id to.... 27 88 87 87
3TxAROlst,adl00 100 100 100
16TexnOenSa.. 07 07 07 07
8TOIftBos.Btra 86 06 86 86
6T0IftBas.Td. 83 83 83 83
14T.8tLftK01st.tr 83 83 80 83
1 Onion Pao ce.trl00 100 100 100
lUntonPo07s....l00 108 108 108
6 Union Pa 07. irl 00 100 100 100
ltmionPaoei..100 103 108 108
4UnloaPao08,trlO0 100 109 109
ltJnloaPao0e..10B 108 108 108
47 Union Pao er.tr. 110 111 110 111
BCPaoCTei.81
9 cant. pp... 41 41 41 41
05UP.DftOUt.tr 47 48 47 48
86UalonEllst.tr. 70 70 79 70
4UBLat4e 113 113 H3 113
10YaBttdlaadgaLsl02 108 108 108
lVasUdlaa4gBi..l08 103 103 103
118 Wabash 1st 106 106 106 106
fi Wabash td 70 79 70 70
8Wabdb,serB... 80 27 20 27
0 Wab,DOex.... 07 07 07 07
26WrtUnoolB...100 109 100 100
2 WnN Car lit CI 15 116 116 115
esWestPaetfie. 102 108 108 108
70WetShor4s....llO 111 110 111
12WertSbor4i.r..l00 110 109 110
7WhMlftLElst. 08 92 08 08
2WNYAPat..l08 108 108 10B
43 WU Cent lit 34 34 34 34
41WUCentlit.tr.. 34 84 34 34
6 Wilkes ft Ks 1st.. 04 94 04 04
86WCBSBB 100 100 100 100
Totalialei of railway bond (par value), 07,177,000.
RAILWAY AND OTHZR BBARE8.
Ojiia- lf0a- Xoia- Cfot
Soitt. XVtna ing. tit. ttt. tno.
lAdamsEx 156 166 166 166
lSlAm8agRst..120 133 127 138
1380ADSagBtpM10 11B 110 118
OSOA&tBpUfg 0 9 8 8
TOOOAmBpMfspf.. 80 20 20 20
lSSAmCabl 91 01 01 01
eosOAmerTob 81 88 80 81
100AmerTobpf...HO 110 110 110
SlSAmerExpms..U7 118 110 118
0186 AmerCot Oil.. 20 22 20 88
DSOOAmorCotOUpf 71 74 71 74
181SAteh.Tsr.. 18 18 18 18
0KS1 Atcb,Tft8Fpt 87 87 27 27
IBOOBruaiwlckat.. .10 .12 .10 .18
800Bruaswlek.tr. 4 4 4 4
10B0 Bait ft Ohio.... 18 18 12 12
moOBayBtataaas.. 0 7 6 0
S5U0 Brook RT. 32 32 30 33
18SaBrookUnOas..H9 110 110 118
700 Can Southern.. 63 63 62 63
S00 Can Pacific..... 81 81 81 81
CUOCuuiolIo...... sa 38 30 32
tlCoasol leapt.. 86 80 86 80
liaiBChOIWeit.... 13 13 12 12
100 ChOt West pA 30 30 30 34
100 Chat Wert pD 24 84 24 24
100 Central Pae.... 18 18 18 12
4074 Ches ft Ohio.... 21 31 21 81
lSBChlo ft Alton. ..168 168 168 168
B3C,0,0BtL.. 38 83 32 33
100 0,0,0 ft St Lp 80 80 80 80
7007CbloftNW....120 121 130 120
lMChtoftNWpMea 104 108 103
eOlCBC, DQ 04 04 03 03
700100. St ft 81 P.... 02 02 01 02
lSB4C.ststPpf..l40 140 140 140
aiSSCRlftP 80 87 86 80
70 0ol Foil 10 21 10 21
lOColFualpf 70 70 70 70
lOOColOftldsv p 2 8 2 2
SSOCol.HYftT.... 6 6 & &
40418 Con.olOMCo.. 187 103 177 190
810 C, IndftL 0 O 8 8
1BC, IndftLp.... 20 20 20 20
1061 Dtlftnodsoa,. 100 111 100 110
470 Del, Lack AW. 156 166 164 166
700 Detroit Oaa.... 68 50 67 67
lOODenftRQpf.. 44 44 44 44
IBOErlaRR 14 14 14 14
41S Erie RR lit pf. 30 30 30 30
lSOBrtsRRtdpf. 10 10 10 10
HOEdlionXl 121 126 181 181
SStFtWft DO,.. 14 17 14 17
ICHSOen Electric. 33 83 38 32
BOBarUm 316 316 316 316
881 IIBClaflla .00 00 06 00
tfSnomeitake 40 40 38 38
JOOHorn Silver Ml. 00 100 1.00 1.00
810IIUnolCat....lO0 101 100 100
471 Illinois Steel... 42 43 42 43
200 Iowa Central.. 0 0 0 0
700 lows Cent pf.. 30 31 30 31
08 Kan C, PAO.. 88 28 22 22
100 Ktatatoa P M .84 24 .24 -24
lOOKeoADMpf,, 14 14 14 14
HBO LP. ft Wart pr 00 00 00 00
410Lk8bore..171 171 170 170
SJBOLltledoOu.... 40 41 40 41
teOLacledaOaapf. 00 01 00 01
11460 Lou Nub.,.. 06 66 64 64
18S78 Manhattan Con 08 00 07 08
9117 land Opf. 60 60 60 60
60 Minn Iron 66 66 66 65
SBIsHetStlty 103 100 103 100
lt.mcbgeutral.,,103 103 109 103
mmmmmmmmmmmmmmammmm
Oft- Blc- Low Clt
tain. . '"
lOOMftStUlrtpt 66 80 80 80
800JtafitL. tdpf fil 62 61 68
1710Koraotfts 88 80 28. ,88
l00Mo.KTx... 18 13 12 13
487 Mo. K ft Tex pf S3 34 32 88
leKobUAOM.. 86 86 86 86
eOONaULOU 10 17 10 17
lieetNJ Central.... 87 88 86 88
8l81HY0eatral....lO0 100 106 106
iSBB Nat Lead. 38 84 38 34
7BlHatLaadpf....l03 104 108 104
ltBOMarthAnwr.... 4 4 3 4
ISBHYftNH 178 180 178 1B0
lOSNY.CftStL.. 14 14 18 13
lNY.OftBtLlp 73 73 73 73
tOOHY. Lft W....181 181 121 181
7HY.BftW.. 17 17 17 17
81S0NY.8 AWpf. 38 34 32 34
ISONorfft Wert... 13 13 13 13
1870NorfftWpt... 43 43 42 42
S74SNorPactflo..... 18 18 17 18
lseoONorPaolBopf.. 68 62 62 68
BHY8ntaa...360 360 360 350
81 Ont ft Siloing.. 4 4 4 4
1148 Ontario AW... 16 16 15 16
l2SOrenftH 33 30 33 30
108 0rRNpt... 08 08 68 08
S070PactfloHn.... 30 31 80 30
700Peo.DAE..... 1 1
lt88PullPalCarColOO 170 100 170
DOST, C.CftStL.. 33 34 32 33
OOP.CCftBtLp. 06 00 06 00
BH7SPnaaBR.....110 110 100 110
BOOlBPeopOftO.... 04 04 02 03
eoiIReadlac 21 21 20 81
B878 Reading latpf. 47 47 46 40
8B08 Reading BdpL. 20 20 26 20
43 Ren ft Bar..... 188 182 182 188
S7BR.WAO. 180 121 120 121
008tL8W 6 6 6 5
aoOStLSWpf.... 10 10 10 10
lOBBtPftDalpf.. 82 88 82 88
T8B0 St P ft Omaha.. 70 78 70 77
lSOStPftOm pf..l46 146 141 146
878BtP.UftH....122 122 122 128
100 Stand Con It.. 1. 76 1-75 1.75 1.76
K00 South Pacific. 10 20 10 20
1770 South R-way... 9 0 0 9
BUI South R'waypt 20 30 80 20
lOOBtJftOI 0 0 0 B.0
8S8t7oftOiatp 42 42 42 42
4S86Uoft01Sdp 13 14 13 14
7esetLRF 0 0 0 0
B83SStLftSFlstp 53 64 63 63
lse4StLftSF 8dp 20 21 20 21
lOeOStandRAT.... 4 4 4 4
4170TennOI 26 26 24 86
OB Third Av BR.. 140 140 140 140
4B60 Texas Pacific.. 10 11 10 11
18087 Union Pactae.. 20 20 10 10
OSOUnPae. DAO. 7 7 7 7
ZSUSExprea. .. 42 42 42 42
IBIS US Rubber.... 16 10 15 16
003 U 8 Rubber pf. 66 06 03 03
lOBUBLeather.... 0 0 0 0
B810 US Leather pf. 01 03 61 03
B18Wabab 0 7 0 7
8718Wabaahpf 17 17 17 17
87 Wells-Far Exp. 110 112 110 112
0488 West UnTel... 80 87 66 86
04B Wheel ft LE.tr 2 2 2 2
S700WCbSB'way.lOO 103 100 103
Ex dividend.
Total sales, 940.680 sharea,
BANK STOCKS.
Open- ntoh IjOV CTo-
Satll. Kami. inn. ft. rii. Inn.
S4Anr!eaaEsoh....l71 171 171 171
80 Broadway... ....... 242 242 242 242
SOOhatham 208 208 893 208
SOOltlseni 138 133 133 132
SSCornExnhang....296 206 296 295
100 Fourth. 196 196 106 196
100 Mechanics 195 196 106 106
St Merchant 147 147 147 147
10 Shoe and Leather. 00 90 00 80
SUNDAY. NOV. SI.
The Treasury balance at the close of business
em Saturday was 8202,287,847, ot which 8138,
489.711 was gold.
The Imports of general merchandise. Includ
ing dry goods, at the port ot New York last week
were 93,009,301, against 911.133,4.55 the pre
vious week and 99.115.830 for the correspond
ing week of last year. The Import of specie for
tfio week wero 9100,158,of whlch8120,233 was
gold, making total specie imported since Jan. 1
815,781,023. Exports of specie were: Gold,
930,505, and silver, 9881.103, a total ot 901V
608. against 9858,630 tho previous week. The
exports of specie since Jan. 1 bare been: Gold,
829.087.600, and silver, 912,119.720, a total ot
871,200,880.
Tho weekly statement ot averages of the
Clearing House banks shows:
Nov. IS. Kov. 10. CAanOM.
Loan.. ..SB7B.310.U00 4380,170.100 Ine. S4.8B3.B00
DiDO.lt. 080.831,800 0(3,117,400 Inc. 7,780.800
ClrTtl'n. 18.032,600 1B.B81),200 Deo. 43.300
L's"! t'r. 77.741,800 80,887.400 Inc. I.70B.BOO
Specie.... 103.888,300 108,680,300 Iuo. 793,000
ReaT. 8180.008,100 $184,187,000 Inc. tS.B89.B00
RT r'd lBB.SSU.O&O 160.778.300 Inc. 1,046,400
orpin 31,70S,100 833,408,360 Inc. 81,048,100
The surplus a year ago was 929,303,575 and
two years ago 910.304.930.
unutinL
richard 7. HARirerraco!
REGULAR AUCTION SALE
STOCKS AND BONDS,
Tuesday, Hoy. 23, at 12:30 P. M.,
at the Real Estate Exehanta ana Auction Room,
& to BB Liberty St.
(For account of whom It may ooneern.)
88 shares Kqoltable Lite Auuranoa Society ot the
United statea. 8100 eacn.
SOO ahares Mluourl. Kaniaa and Texas R. R. Co.,
I 00 each.
4 ehart Yale ft Towns Manufacturing Co., 8100
oaoh.
10 aharea Hide and Leather National Bank. 8100
eaoh.
All right, title, and Interest In pawn tloket Ho. 65,807
of Win. Slrapaon ft Co , 1 S 1 Bowery.
Uta t Anotloneara', 71 and 78 Liberty it.
THE STATE TRUST CO.,
too Broadway,
Capital and Surplus, $1,800,000.
Act a FraMee, tteslstrar, Traaarer and Pis
eat Axeat r Carporatloaa, and aa Barrator,
AdatlaUtrator, Traate. Uuardlaa, andCaiDilt
tee or Eatatea, Leaal tlepotllory rr Caart ana
Trait raada. Taliea Full Cbarxe T Real aad
raneaal Eatatea. latemtAllewsdaa Hepatite.
FRANCIS 8. BANDS, President.
A:liAlH!I0IJ,,V.ce.Pr...d.BU.
MAURICE 8. DECKER, Secretary.
II. M, FRANCIS. Traaiurer.
II. II. UEIIHV, Truit Officer.
TRU8TESS.
WU1U 8. Falne, Henry Steers,
Banry U. Cook, Oeorge W. Qulntatd,
Charles R. Flint, Forreit It. KarKar,
W. L. Tranbolm. Charlat Sorlbner,
William B. Kendall. Oharlns L. TtfTanr,
Walter 8. Johmoa, Oaorao W. WhlU,
Joseph N, llalloex, Perclal Enauth.
Edwin A UcAlpln, Franoli 8. Bangs,
Andrew UllU. FraaoU Lynde Button,
William A. Naah, Thomaa A, Melntyre,
OtorreFoiUrreabody, Bdward E. Poor,
J, D. Probtt, Anion (I. MeOoolc.
Money to Loan at 4, 4 1 & 5
Largo or small amount.
Apply directly and savo expense.
Title guarantee
ahd TRUST COMPANY
140 Broadway, 175 Rorason St ,
Now York. Brooklyn.
CAPITAL, . $2,500,000.
SURPLUS, . $2,000,000.
HAVEN & STOUT
1 Nassau Street, Cor. Wall St.
SK.w Vork Stock Exchange,
New York Cotton Exchange,
Cblcase Uoard of Trad.
Orderaezicutedontlie abore Exchange !a
BONDS, STOCKS, COTTON AND GRAIN.
' I . 'u --- - n.t
cfUiuitlW., ii
WE OFFER FOR SALE AT
1 Ml M
91,500,000 Five Per Ce
DATED JAN. 1ST.
MANHATTAN TR
Ttaerrlaet! laterestaayabla
Oiaa.OOO ara retataea tiy tbe tatatta
Theaa btaSs eaver alt the fraaelitata.
aatlaa- Ca. aaa Akrea Cnyataasra Jalls
eerratlvetr eatlauiteai at I.BOO.OOOw
rorLLATtos ivrruu ibcti.t
amd I cosjracnox tS-tTH AKtO-,
The m.rtxaaea have fcean passed apea tax
SfBSS. BTROMO A CADWAS-ABBW. aO WaU
Tbe phyaleal caaaJUan af Oi raa has
MR. RALPH BEACH
The Audit Co. of
counts are accurate
Street Railway & II
Permanent Property....
Current Assets
IAbmlate Carafes r Akraa St. Railway III.
Oaerallas Kxpeaasa
Not earnings for 1800
Mr, I. H. Coaant. C. P. A.. csrHOee
Cavabeca Fall naald TraaUt Ce.s
Permanent Property
Absslate earalnsa r Akran A Cuyahoga Falls
Opemtlaa expease
Net earnings for 1800
Add to these llRurea the estimated
and wo havo a grand total
MBT BABMIWCS I1UHI TUB CKRTIFICATKS
Deduct a per cent, on entire bond luue, Including
Total .Vet Rurplna aaeratlac reads ladrpa
THE nAKAtiBVUUVT ESTIMATE?! THAT TUESB
ItOW UWDEB WAYl
Consolidation ot power-home in Akron
, Abandonment ot two ponrrrhouiei operated by the
Earnings Ravenna Extenilon
Barings In general operation
Sinking: total conservatively
The abore estimate la considered by those la
which I ateadlly grow lng.
Tho company is wholly frco
The maaareraent or the prapertx la la the haoda
PRE8 , SAMUEL THOMAS, 80 Broadway, New
V.-P11ES., HOK. OKO. W. CnOUSE, Akron.
TRKAB..A. O. BF.KBE.' 80 Broadwar. New
ASS'T TREAS.. AAUOM WAOONER. Akron.
J. F. bEIBERLIXO, Vloe-Pres. ot the India
SUBSCItlPTIONS WILIi BB
Copy of mortgage and all loo
Payments to bo made, lO per
Tho right is reserved to reject
amoanta subscribed for. Allotments
Application will bo made to list
Sutro, Scholle &
JOBitSTOM BUILDING, SO BROAD STREET.
Way. IB. 1BOT. MgnPBfts Qp
GuarantyTrustCo.
of New Yotk.
NASSAU. C0HNEK CEDAlt STREET.
CAPITAL. , . $3,000,000
OCRPLU8, a a1" . . 83,000,000
ACTS AS TBCSTZn POIl COBPORATIONB,
X1RMS. AWD lNDIVIDUALa. AS OUARDIAI?,
EXECCTOR, AND ADXIINIBTItATOn, TAKES
TJITI1US CHABOB OW BEAL AND PER
SONA!. B3TATES.
IKTBBS8T ALXOTfTBD ON DEPOSITS
abjict to cheque or on certlflcatc.
sTEnLirta dhaftb on all parts op
OREAT BBITAIK BOCGUT AND SOLD.
COLLECTION'S MADE.
TRAVELLERS' LBTTBRS OF CREDIT AVAIL.
ABLE IN ALL PARTS OP THE WORLD, AND
COMMERCIAL LETTS RH OF CREDIT ISSUED.
WALTEB. O. 0AK1IAN. President.
ADRIAN 1BSLIN, Jb.. Vice-President.
OEOROBB. TURNBULL, 3d Vlce-Prcstdeat.
BENRV A. HURRA Y. Treaa. and Bee.
3. NELSON BORLAND. Ant. Treaa. and Bee.
JOHN OAULT. Manager foreign Dept.
m DIRECTOR3.
Bamnel D, Babcock, Charles R. Henderson,
George T. Baker. Adrian Isello, Jr.,
Oeorge B. Bowdoln, Augustus D. Jnllltard,
August Belmont, James N. Jarvle,
Frederic Cronwill, Blctad A. McCurdy,
Waiter R. Gillette. Alexander E. Orr,
Bobenooelet, Walter O. Oaxmen,
O. O. Haven, Benry II, Bocora,
Oliver Barrlman, B. UcK. Twombly,
B. Somen Bayes, Frederick: W. Vsndsrtllt,
L Tllllam C Wbitssy.
LONDON BRAKCII.
S3 LOMBARD STREET. B. O.
, T. Naviu. Jacksok, BxciixTAnr.
Bojs and sell! eicbsnge on tae principal
cities ot the world, collects dlrldends snd cou
pons wlthont cssrge, Issues trsrellers' and com
mercial letters of credit, recelres snd pars
Interest on deposits subject to cheque at sight or
on notice, lenda money on collaterali, deals In
American snd other Inreitment securities, snd
offers Its services as correspondent and financial
agent to corporations, bankers and merchsnts.
Bankers,
BANC OP ENGLAND,
CLTDESDALB BANE. Limited,
NATIONAL PROVINCIAL BANK OP
-. ENGLAND, Limited,
PARR'S BANK, Limited.
Solicitor.
FBESnFIELDS AND WILLIAMS.
Leaden Committee.
ARTHUR JOUN VBASEB, CuaiauAX.
. DONALD C. 1IAI.DEMAN.
P trust cer
23-t virrn ave.. con. aTniBT. '
BRANCH. 00 BROADWAY.
CA PITAU 8 1 .000,000.00
LEGAL DEPOSITORY
For Slate, City, and Court Moneys.
Interest Allowed on Time Drpotlls.
Checks passed through N. X. Clesrlng-hosse.
Aria as Eiecuter, Oaardlan, or Administrator ot
Eatatea, and ai Rtcelrrr, Ueglitrar, Trioifer and
Financial Agent for Statea, Railroads snd Oorpo
rations. Sepsrsts Department with
gneclal Parllltlra rr Ladlea.
ROnERT MACLAT. Preildent.
CHARLES T. BARNEY, Vlce-Presldest.
JOSEPH T. BROWN. 5d Vlee-Preildent.
KRED'K L. ELDRIDOK, Becretiry.
J, HENRI TOWNHEND, Ass't Secretsry.
100 DHOADU'AY, NEW YORK,
OS ORESnAM ST., LONDON, E. 0.
CAPITAL 81.O0O.O0O.
UNDIVIDED PEOFITS, $200,000
Authorised to act as Trualee, Uuardlan,
Aaaisnee nml Piseal Aseni.
All conservative trnal company bullae
accept i . . rh M jAnviS PresMent.
ROLAND It. CON KLIN. E J. CIIApPELL.
Vice. Preildent, Iondon Treasurer,
S. R. IIARUEIIT. S. L, CON KLIN.
London Stcretirr. Becretiry.
BROWN BROTHERS & CO.,
SO. OO WALL BTHRKT.
Lttttrt Burauit nil bllli ot eichanga nrestmenl
on Orrat Britain, the Contl
, nent, Auitralla. and houlh sceurltU
f Africa, make cable Iranifen """"
.t niODOjr tnil rollectloni of
Credit, draft! "U all parti of the world.
PHILADELPHIA, BOSTON, JESMSu.
ALL CO.NKECTEI) BV PRIVATE W1RX.
efiWWCiS!.
95 PER CENTUM MD ACORUCO
mm k nii
OP AKRON. OHIO,
ISSUE OF
nt. 30-Year First Consul
1800, INTEREST FATABLB JA. 1ST
UST COMPANY OF NE
In llaltt-a Stales Cald Cla r Use araeaat
Trait cerapaar a traatae la pay afT on sussar
real estate, tracks aad aaajaajeat. aa tttlBB
stasia Traaalt Co., coverlaA t salles af traek
with LiGrmno amb TiiAtrnreatTATteii
BXDPORV, CLBVELAXB BOAS WtTBCLBV
t..WawTarki MESS. AU.KKACSBB. AUrasu
beea panim upon tar the nllewlaa parties I
of the General Electrlo Co. sad T. W. CHILD. Haotrlo
New York certify
statements from the
luminating Co.:
........,,,.,......... ................
..............,,,,....................
Co. far 1800 k
that the following; aeeeaata ara aoonrate
Basis Traaalt Ca. far MOO
value of tho franchises '.
covered by this mortgaRO
or tii it audit co. op asm vosit amb u
Treatury bond
adeatly
BAIINIACI W1LI. tin 1NCBBASBD AS) BBSVLT
Rapid TranilVcompanf.' . ...!'.
estimated net surplus under one
authority ai very conierratlTO, and does not taks
from floating debt, excepting only
oppicbus asd dibbctoro.
f Strang local mea, tbe Director aad OtOeer
York city.
Ohio. Pres. ot Aultman. Millar A Co , Pres. of City
York ctty.
Ohio, Cashier of the Akron 8iTlngs Dank.
Rubber Co. IRA H. UILLER. Seo'ty,
J. A. LONO, Prea ot the Tall Rivet and Machine Co.
RECEIVED BY THE UNDER
umcuts and any information can be
cent, on application and balance
or reduce any subscription and to
will be made an soon as possible after
these bonds on the New York and
Co., H. F.
KBIT VORK. 8RBXBI, BCH-DISC,
TUB SEW YUrtlt AffP PHlUtDBI.PHI A STOCK
TO B0LDBB3 OP
Central Pacific Railroad Co.
5 Per Cent. Bonds,
BCD lOOO.
In Tlew ot the maturing claim of the United States
against the Central Padno Railroad Company, w
deem It Important that the holders ot bond ot the
abora laiue ahould unite in order to secure effective
representation of thlr common Interests.
n olden ot a large amount of Central Paoiflo First
xlortgag BondabaT already combined, and numer
ous Btockholders of th Company hare Intruitsd their
repmentatton to a Committee.
A Bondholder' Asreenunl, dated October 1, 1887,
ha bean prepared, which confera upon ua the right to
represent deposited Bonda, aad to take any atepa nee
eiryforthe protection ot the rights of the Bond
holders; also to represent the deposited Bonda la con
nection with any readjustment of the Bonded Debt of
the Central PaclOo Railroad Company, but subject to
tbe final approral ot depositing Bondholder.
No charge will bo made to depositing Bondholder
for our errioa.
Depositing Bondholder will receive temporary re
eelpti, exchangeable for engraved oerUflcatss of de
posit of lletirs. SpeyerA Co. of New York, oounter
lgned by the United State Trust Company of Now
York, aa custodian. Application for lilting then car
tlfloatei will be made to the New York, Berlin, and
Amaterdam Stock Exchanges.
Amount collected upon tbe coupon appertaining
to deposited Bonds will be paid to bolder of ctrtlft.
cate. and such payment! will be stamped thereon.
Ce Invite Bondholdera to deposit their bonds oa or
before DECEMBER 1, loot, after which daw
bonda will be reoelred only on aueh termt as we may
hereafter determine.
Bonds must carry the coupon, dne April 1, IMS,
and all subsequent coupon.
Cople of the Bondholders' Agreement can be ob
tained at our omce.
BPEYEIt & CO.,
MEW VOBK.
DEUTSCHE BANK,
BERLIN.
TEIXEIRA. DE MATTOB BROS.,
AHSTEBBASI.
October 9. 1887.
0! CEDAR STREBT, flEW YOBU..
CAPITAL . 82,000,000.
Sl'llPLUS 1,100,000.
Transact si Oe leral Trust Dnsloess.
Act as Trnstee, Keslstrar, and Transfer
' oeuli Exeeatot', Guardian, Admlnlstru
lor, cVc, TaUri entire etiarse of Ileal and
Pononnl K;inte. Acts a Fiscal Aeent for
3:.ntra, Mualclpalttles, and Corporation.
Lcsal Depoalinry for Coart and Trust
Fuod. Interest allowed on Depnsln.
hocks pa tbreugh the New York Clcar-lus-llouie.
loner loaned on bond and
mortgage. Issue First Mortaaes Trust
tiold Donds.
orricMta.
(leerien, Youne.. .....Preildent
Lntber Kuntse.. .... .. .Vloe-Preildeut
Jawe Tlmpsoii Ud Tlce-Preldent
Ar.M,Br 1rHM" Treasurer
WlllUm P. Elliott Nrcretarr
In rU Williams Asi. Treaiurer
Itlchard 31. llurd ,.... Aesl. Seoreiary
DIRECT0R8.
Simoel l. Bibcock.
Dumont CUtke, Quit' B. Rluel,
Charles D, Dickey, Jr., Lutbtt Koontte.
WllUsm P. Dlion, Cbstfloa T. Lewis,
David Oowa, Jr.. Rlissrd A. UcCurdr,
Robert A. Ononlis, 1 heodor Uorford,
O. a. nsTin.Jr.. Robert Olyphsnt.
Chsrlrs R Henderson, Charles M. 1'ratt,
Jimei 1. Hill Junes Tlnirsou,
ISirdlneri; llublinrd, (ioorse V Voung,
CITY OF NEW YORK
3J Per Cent
Gold Bonds.
MATtimto iota to loar,
EXEMPT FROM TAXATION.
, FOR SALE BY
Vermilye & Co., Kuhn, Loeb & Co.,
ft'aeeati A I'la Sia. . OT-'JU Plae St.
i
jfUlRNrillt. A'iH
jasvaainjajp. jMarf,i.iHa jaajaiaaaajiuaa nea, rf. a. aa1at mmr's i aa1 J H
ppst mm m$ M
fliii:niii I
BxeP
idated Mtge. Gold Bonds, 9
TD .IULY 1ST. -fH
W YORK. Trustee. m
iijgH
standard or weight and flaear. Waaasai
Irlaa mtniin, eaverlaa II mtleaaf Irarag. JtSBBB
alanta af the Akron Street Ballsray A Hiatal jiaiH
trraepoctlve of tbe rrnnrhl.ea. nkleh ara raa jgssBB
iaaasa!
CONSEBVATIVn.V KITISttTRO AT OO.OOB, Nsaaal
LAifDcovitns a rorri.(Tii op soo.oeo. ill
sii BaaaB
tTkloi DAVID Wtl l.ltltVTttlV, K.. Phlln..Pa, taH
tfiwM
Hallway Engineer u aaaai
that the following ac- !
books of the Akron iH
$l,177,70t 00 a!H
at.Huu si J.WM
$I,a,, """ UT laVsal
oio.sac ait Uaaaaal
100.700 as Alanafl
$8i3i77-i38 '''leal
statements rrem tbe beak or Ibx tUrti Bb, .lifsaasB
3:ioi,5tu !' 'Amw
Ooa.OBO J MsaaBal
1'i.ono I ssxaal
ittS.OUil 85 Vleaxaal
$1,.-OQ,000 00 "f
$:t,ioi,iH7 nii ''tlmW
H. COAXr. c. V. A sue. tin OO C eaxaal
'H.TO1 Ot ! Sanaa!
tal.VWi vll aaaal
of Tncrot.iiMi.u ciiAvctti 'iH
tis.nno oo lafaal
lo.nun on .-'talH
30,001) on iHaBB
6.000 oo taaaaai
sa.non oa iBBaal
ownership $i):i,UIH 1KB ?. H
Into account the natural Increaiv In the buslnesSai Y. gsssB
its current monthly bills. H
belnc n rational I H
V H
Katlonal Bank ot Akron, Ohio. H
''axal
Aultman, Blller A Co. IibsbI
SIGKED UNTIL P. M . NOV. 22, H
httd on application to uurtcrsljjncil 4 (H
on allotment. ,vlgal
mako allot mont of less than Ilia MsB
tho subscription boolca shall be closest 41 -H
Philadelphia Stock Exchanscs. Haasal
Bachman & Co., - il
IIO A 1Q1 S. STH ST., PBILADBLPIIIA. laaai
I EXCHANGES. llaaai
The Audit Company II
OF NEW YORK, l
Equitable Building J 20 Broad wy. isanafl
Acting President, Vlce-Preitdent, 'v BBB
ADaUST BELMONT. WILLIAM A. KAMI. ,
Manager. Chief Consultluir Audilsr, f IB
THOMAS L. QBESNE. 8TEPUEN LITTLE f..-,
Comultlne Eaglnwr. jf; fmW
WILLLUI DAHCl.lV PARSON'S. V:
Oblif of Corps of Eng'r, Scrtarr anil Treasuier. ffl
HBNRY B. SEAMAN. EDWAHD T. l'KP.lE.
DIRECTOIta '4 1
August Belmont, A. J. Oassatt, I: Sal
Frederic 1. Olcott, Marcellus Hertlor. '5
James StUlninn. Charles R. Flint. ' S
Wllllutn A. Nabh. Qeortro Codik'11. Mmm
Joseph 8. Auerlxtcli, Q, B. SI. Hurvc) ,
Qeortre Q. Haven, John I. Waterbury, 'iU
Ooonte TV. TounA. ( E
ADVISORY COMMITTEE ') fi
of Stockholder. , D
W. Bayard Cutting, T. JofrersonCoolIJrt, Jr., 'U
Walter J. Oakman. Charles 8. Faln-hlM, i
A. J. JulIUard, OustarE. Klssol, ItU
genry W. Poor. Isaao N. Sellgmnn, '-i
uls FitZBorald. Robert Maolay. )
The Audit Company examines and re- i H
ports upon tho accounts and financial j H
condition of corDOrntlons, copartnerships. H
and individuals, and examlnos and re- 1 H
ports upon tho physical condition of rail S
road, raauufacturlnc. and other prouci- 1 H
ties. "I fl
its services ara ot value to Investor. 'H
financial institutions, borrowers ' !fl
money, directors ot corporationa, nu-r )H
chants, firms, and purchasers ot pro)- Wt
ertles.
TO THB nOLUBBl OP TUB ;J
Baitlniore Belt Railroad Company's 'm
H Per Cunt, l'lrst SIortffa;e UoIU 'JH
lloncls Of 180O-100O. U
The ItecelTer of th OALTIHOKE and OHIO HAIL
ROAD COMPANY baring announced that they aia '
unable to pay tbe Coupon of the above mentioned il
bonda, due this dir, we dtfern It Important for tb ,M
bondholder tht itepi ihoula be takn piomptly tor H
the protection of their InterciW by securing a control j H
of their bondi. !
VTe therefore request the holders to deposit their 1H
bond! without delay, receiving in exchange therefov 49
negotiable certificate to lie Issued under the terms nt "iH
an agreement bearing thla date, conies of wbkh may H
be had at Our respective oftlcea H
Whllit default ntay not be of long continuance, fl
prompt action Is deilrable. In order that we mar !
know to vrhat extrnt we mar represent the boud- H
bolderi, bcndi should be depoilted vrlth us not later f
than December lit, 1807. H
Messrs MOWN, SHIPLEY & CO. n III recalre de '?
posit of the bondi In London. ,'H
November 1st, 1RB7. f H
)
BROWN IIROTIIKRS & COMPANY, (M
ew lark ana Phlladelpllla. 9H
AIjKXANDKR BROWN & SONS. pi
Ualllmore. jH
THE ST, LOUIS, ALTON & TERRE HAOTE jl
RAILROAD COMPAHY 1
First Mortgage and Terminal 11
Twenty-Year Gold Bonds. il
nEiin.MPTion notick.
Notice Is berebj ;lren that Tbe ill, Louli, Allen jfl
snd Terre Haute Itallroad Compsnj desires tu re. (I
deem snd pajr before maturlf) enrh aod all nf In Jl
Flrat Uortcaso and Tcrmltn! Tnentr-Year OnUl il
Donds, dsted July 2d, lbUl, and Issued under and M
secured by mortgtge of I he same date lu 'l"i l
Bute Trust Company u Truttee, and Ibit It Hi. fl
tend! to male iuib ri'di'inptlon sod payment on
the flrit day of June, LSOS, ut Hi financial acenry
In the City of Nrtr Tnrl. naniel; 11 llroadivsr, 9
bv payment tn the bolder or holders of nld Ixuds '
of i.',l sccrurd Interest tlirrron and of I lie nrj it I
one hundred lod Sve dollar! for every one buuCicd
i litre of principal rrpifieoted iheieby
Piled Cblcico, Illinois, Hay 28th, 1KI7.
tT order ot tho llourd ut lllrrpturs, '
XV. a. bf.t K.V SfclCltKTAIlk ,
DA.SKINO HOUSE Or (
HENRY OLEWS & 00., j
II. IS, in A IT Broad ht,
Meiuburs:
N. Y. Block r.iclinj, N V Cotton Kirbana
N. Y Produce Ksuhuugr. Chicago Hoard nf 1 rad.
Orders executed for Investment or tin mirKin in.
terest allowed on deposits subjn t toclie-kat sUlit
Art as Flomeui Ageutn r,ir i'orpurntlons jif I ,. ,
vestori
i Mi HIT1I K rut .'Jib
Branch (iftK's h, ,a,v . r M r,.i,,r, tJ .
' in i it'ltl "T lii..tJklii
tor ethtr udvrfl,fi.iii( urtUtr Ills UaJtui
.Ymi.'. yam.
ii
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