The sun. [volume], January 03, 1898, 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

                
psr" WMy;
' ras nvaisusH ovtzook ran w.
, The rear 1897 rlosea talher eiooailli- on the
stock Exchsnite. It l true thnt price, with
. few eiceptlons, were higher thon ther wero
! ' lhe j-enr opened, bnt they showed a d-
rilne from polntt ther hnd rertrhed In the in-
r ,' whlch win dlscourAutntt to tpcnUtors.
operations of the United State. Treasury
ImVkI up tares amount of money and tbui
4 L. railed the ,e' of lntoro8t on 0,, to""' tho
failure of the Chestnut Street Notional Dank In
I Philadelphia. nnJ u' th8 "'"'nB-Hall-Marrln
Company here, with a number of small mercan
m failures In thin city and elsewhere excited
Ijprehcmlont of mora dlsMter to come of tho
uffltkM. and the collapse of the inflation In
eUrf stocks which besan lost anmmer had
. additional depressing- effect. Tho t lie In ele-
ted and etrcot railway Itocks, due to the
I rotable falluro of the underground rapid tran-
It scheme and to tho announcement that
I treslr r Pcaco httd been 'r",,la between two
rt rival companies, only partially counter-
! acted th "e unfavorable Influences.
! Tbe failure of the Philadelphia bank and of
' tki Kw Yorl 'fo comPnn' wcre peculiarly
larmln(r In that tho causea of the catastrophe
In both Instances, data far back, and should,
leglttmatoly. hive brought It about lone ago.
! The complicity of 'ho Comptroller of tho Our-
fency In concealing, for two years after be first
' eirnel of It, tho dangerous condition of the
Philadelphia b ink Is not the least unpleasant
i featureof that alTalr. Ito excuses his conduct
: on e ground th.it prompt action br him would
hre precipitated a financial panto, wlthqutbcn
i anting the btnk'j depositors, but he seems to
i Jure h id no consideration for the people who
hare ilnre Intrusted their money to tho bank, re-
' jying upon his Implied assurance that It was safe
i tbciv. Ilosliles, slnco he has, for two years, al
lowed this rotten concern to contlnuo In bust
noss, H nuy reasonably be Inferred that he baa
dono the samo with other Institutions In a aim.
lhr condition, which will, erentually, have to
confess tholr Insolvency to tho groat loss of their
creditors. Tho Sow York safe compnny failure
was not so much of is surprise, Its procnrlous
state hiring been for soma time suspected, but
It was none tho loss disagreeable to the losers
by IL As to tbo less Important commercial
catastrophes which have recently boon an.
pounced, they, also, aro uncomfortable sugges
tions of nioro to como, nnd proofs that the re.
rival or trade, which Is supposed to have begun
last summer, has not been as efficacious as It
baa been represented to bo.
In fact, much ground exist for fearing that
without being actually bankrupt, a large num
ber of business houses and of flnancl.il Instltu
' ' lions hitre not fully rocovored the losses which
they sustilned from the panlo of 1803, Trade
baslndoed, latterly, buon good, but It has not
been k'ood enough nor good long enough to com
pensate for its previous dulness. People have
not resumed tho Dibits of lavish expenditure
and of enthusiastic cntcrprlso which fro to make
np what In this country Is restarted as true
prosperity. They buy judiciously, consume
frug.illr, and hcsltato to embark their capital in
doubtful schemes. The result Is a healthy state
ef business affairs, but not nn Insnlrlllng one.
Mm ar making tholr livlnir comfortably, but
they aro not rapidly accumulating fortunes.
Tin Unite! Stutos Treasury has been execp
1 ' tlonully fortunato during tho past year. With
a regular rovenue fulling short of its expenses
nuny millions of dollars.it yet is able to show
for tho six mouths ending Dec 31, a con
siderable surplus, and to begin 1898 with an
a'mn lain lialanco of rounoy on hand. For this
It l Indebted to tho blunders of tho preceding
Alinlnistr.ition. When President Cleveland,
In February. 181)0, sold $100,000,000 of bonds to
avert what hosuipo30.1 was an Impending finan
cial panic, he ilttlo thought that ho was provid
ing his successor with means to tide over two
yorof Insulllcientrovenuo, and when tho D -m-o
ratio Consrross refused to settle the Union Pa
title Ilillroad debt, they did nut foresee that tho
mtlcnient would bo ruado by a Republican Ad
ciln'str ttlnn in a way that would yield It $38,
OOJ.000 in cash for current oxpeuses. Yet both
these things hive boon dono, nnd the Republi
can party has profited by thorn.
For tho tonilnp year, the prospect Is that the
Treasury will not faro so well as It has fared
tlieso lust six months. Of tlio SS3.000.000 it has
v received from tho sale of tho Union Pacific Rail
roid.lt will have to pay out $30,000,000 for
binds maturing last Situnl.iy, nnd It Is not pos
sible lint, without further legislation, Its rov
cnucs will Incp-.isu to a point whore thoy will
equal its expenditures. A largo slice of tho
surplus left from the proceeds of President
Cleveland's bond sale will, therefore, have 10 be
ovl to make up a deficit, which evon tho Sec
re tury of tho Treasury ostlmates will bo $28,
OiiO.ooo on tho 30th of noxt Juno, and which
is mure l.kcly to bo $10,000,000. Still, the
Tiojsury will have money enough and to spare,
and thero la no ground for oxpectlng a resort to
President Clovelnnd's expedient of n bond Issue
to replenish It. In the affairs of private clti
, tens, however, the samo clouds that, as we havo
iJicntlono'l, darkened tbo close of 1807, bang
Orer the dawn of 1808.
To dissipate theso clouds wo have to rely, first
Spin tho natural tendency of long-continued
in ictlvlty and of a consequent accumulation of
tiiemplojcd capital to begot nn Impatience on
tho part of the public which finally bursts all
bin Is and sets free tlie current of speculation.
Then, too, wo havo. at present, an unusual
foreign dcinnnd for our food products, for which
we shall bo largely paid In gold, and which have
I aire uly Insured us Immunity from any depletion
of our monetary reserves. No postilonce allllcts
i the country; i ho prospects of the coming har-
i veils iro good; and under the stimulus of these
favoring conditions It may bo expected that
what Is now a moderate trade will oxpand and
chlinitely assume proportions which will
satisfy the most exacting grumbler. On tbe
other hand, both tbe grower and the manufac
turer of cotton are suffering from low prices,
and hare no hopo of Immodlate relief.
.V groat deal Is stld In certain Quarters about
ourroney reform as un Indlsponsable prerequi
site to any lasting Improvement In business.
II i) iv illusory this idea It, and bow unnecessary
It Is to make any chango In our currency system
at proaeiu, has often been pointed out In this
column. S' vertholess, a great many people, both
In Cnnzress nnd o'lt of It, are bent on soourlng
Ic'l.-il itlon on the subject, und will soaro no
elT;Kt to succeed. Two wosks from to-day the
noimo Cmnmltteo nn flanking and Currency are
to tnko up for consideration Secretary Oage'a
bill fur refunding Into bonds expressly payable
In gold a large amount of Government bonds
Bow payable in coin, for making these bonds
tbu basis of an enlarged Issue of na
tional bank currency, nd for retiring
tJoo 000,000 of tbe existing Qorernment
E'.Ud, silver dollars and silver certificates.
Whether tbe bill survtres opposition in the
committee Is doubtful; equally doubtful Is Its
P issngo by tbe Mouse; while Its rejection by the
Ben ilu Is certain. The only possible benefit,
therefore, of forcing tho House to debate It will
1m toiommlttho Republican party to the gold
stand, ml, whereas Its failure to pass may be
takin us a confession by that party that It still
ellu.-sto tho delusion of international bimetal
lUin Cor wul' h It declared at St. Louis In June of
!&M)etr, The suggestion has been made that
the enlarged issue of bank circulation allowed
b) I lie proposed bill will secure for It tho votes
of in hi) Southern and Western silver Ilcpre
snUt vis, and, possibly, ollvor Senators, who
Wuulii otherwise opposu It, but this is a vain
IniiKiiutlon, Tho bribe offered is not big
en nigh,. mi, besides, legislation In favor of gold
obtained In this way would ho of no value.
Al this moment. Indeed, the advocates of free
sllv. r aro quiet. The Presidential campaign is
our, and thu election of a lieu Uousoof Repre
sentatives will not take place for ten mouths to
come. The high prices of agricultural products
In the crnin-growlng section of the country
have pacified the farmers there, and those of
them who have thus been enabled to pay their
debts are less ready than they were to clamor
for relief by debasing the measuro of value. In
tbo lottiin-growlng region, on tbe contrary, the
price of tho staple, as kiis already been said, Is
low. and tniisuqmnllr the pioduccrs of It aro
star lent ucUo ntesof silver as ever they wero.
Bhuul tbo next grain harvest lie small, or
ilioiiui iiiu m-Jce of grain bo not sustained
by k foreign demand as It is now, the grain
I
growers will be Kkely sVtn to Vote for -J
ter as they Old last autumn. That the
hopes of the tllverlte Isadora are netorttshed
i plain from the efforts now making
In Ohio to elcoU by a coalition of Democrats and
of sliver Republicans, a silver Senator In the
placo of Senator Hanna. Even here In the Btate
of New York, the deDlorable dissensions In the
Republican party and tho consequent arrogance
of tho Democrats, encouraged by their success
at the recent municipal election, promise to give
nt In 1800 a Democratlo Legislature and a Dem
ocratic Senator as the colleague of Senator
Piatt. President McKJnley may, therefore, dur
ing the last two years of his term have both
houses of Congress opposed to hie party and
legislation In favor of the gold standard now so
doubtful will be Impossible. Nor Is the Presi
dent himself so strongly In favor of gold that he
can be relied on to veto a free silver bill If Con
gress should pass one.
Complicated, therefore, as it Is by these pos
sibilities, the business outlook for 1803 Is not
bright. If the unnecessary agitation for cur
rency reform were abandoned, and If the nat
ural course of events was alone relied on to
dissipate the sliver erase, we might expect, in
time, a resumption of the activity which pre
vailed previous to 1803, but so long as men's
minds are disquieted by tho uncertainty attend
ing the future of our financial policy, they will
await events and refrain from taking avoidable
risks. They must know definitely, first, whether
Bold or silver Is to be permanently the monotary
standard of the country, and, second, whether
Its currency Is to bo of fixed and certain value,
or whether It Is to fluctuate In volume and pur
chasing power by being put under the control of
the banks. Matthew Marshau.
riifjixcxAX. Airn cotiatJsnoiAi
next York StnrU ICxchange Kale and Range ef
lrlree on Alt Seourltlea Dealt In During the
Week Ending Deo, 01, 1H0T.
UNITED STATU AND STATS HOMDS (IN ?l,00OS.
Open- nigh- tow- Clna
Satet. A'awe. tng. tit. ft. nc.
M000UB4s.r. 1907.1 13 113 112 11S
6000 OS4S.C. 1017.1 16 116 116 116
B000OB4s.r.lB3B.lS7s 137'. iS7 127.
S000on84.c.lB3o.lE8'. 12B' 1U8 128
liOOOUSo. r. 1144 114 U4 11 4, Hi
It 0000 US 8a. e 114a 114a 114a 114a
2000 Tenn Set 8s... Q2 02 OS 02
C7000 Va F d. B-Ss of
ioi 004 oos eo no's
RAILROAD AND OTHER TIONDS (IK 91,0008).
Open- 1Hq- Lore- Clot-
SoUm, A'ama. inn. fat. a(. ing.
601 Atchison adj ts.. 67 68S 67". 68"a
264Atcbtaoncnl is.. 80N 80T 804 B0"
lAmerSlIOa 71 71 71 71
10 Amer Too scrip.. 70a 79s 784 784
18 Ann Arbor is..... 834 834 83 834
lAmDkaimp6s.H0 110 110 110
lSAmOOSs 1074 1034 1074 lOrtV,
12 Austin N Wis 804 804 88 88
1 D'y1thATcnOalB04 1204 1204 1204
6BuffPhgTilBa.l0a 106 106 1U6
321 BrooklynnTOs.. 02 04 02 04
3 Brook W W 6s. 00 00 08 084
48 B'klyn El lst.tr. 82 83 82 83
28 BrookUnQasBs.il 24 1124 1114 1124
26ChsOcn6s,r..lll4 US'. 1114 1124
70ChsOcnBs....U24 1144 1124 1144
746Cha0gnl 44s. 80 "4 824 80't 824
7 cha a o, n a
1st en 4a 100 100 106 106
GChsOlat,serAU04 1104 1104 1104
1 Cba ft O. B a A
Sdcnis 064 064 064 064
7C.BANBS HO 110 110 110
2C. BQcnT0s..U04 1104 llO'l 1104
76C.BaQ4s.Rez. 084 084 074 OBH
6C.B&Q7S 1104 1104 1184 1184
3C,BQ4s,IdlT,1024 1024 1024 1024
lOC.BJtg debBa.,106 100 100 100
0 C. O. O 4 St L 4a.
V WVal 804 874 804 874
2 C, C, 0 ft St L. U.
StLilIr 064 00 06'4 00
10C.C.C BtL4a,
Odlr 00 004 00 004
16ConOaaofCbBs.l044 1044 104 104
G Can bo 1st 1124 1124 1124 1124
20 Can So 2d 1084 1084 1084 1084
16ColJtOthATlrtlB04 121 120 121
844 Cblc Terlst.tr.. 48 404 464 404
10tMftCantlita.tr 71 71 71 71
lCPacexBMetfs.1004 1004 1004 1004
eConPaclc 1004 1004 1004 1004
18CtiElll inlBa.1014 1014 101 101
10ColUldlst.tr... 06 06 06 06
7 Col 1114 4a, a I p.. 104 104 104 104
20COLftCCo 1st. 1074 1074 1074 1074
22CblcftF.rle tat.. .1114 112 1114 112
lCen0aB'waylatH84 1184 1184 1184
OOCenOaRycn 6s. 014 02 OU'a 014
2eCenOaRy lstlno 434 44 434 44
20CenOaRy2l too 16 164 16 164
22C01.P&I ts 80 604 80 804
20 Den ft Ulo O en... 014 014 014 014
26DulftIronn lat.104'4 106 1044 106
1 Dallas ft Waco lat 784 784 784 784
20BuISSftAtl6s..l004 1004 1004 1004
21 Erie en 1st 1444 146 144s 1464
200 Erie prior bds.... 024 03 02 03
33 Erie gnl lien S-4S. 72 72 714 714
22BTennBs 110 1104 110 1104
2 Ellison EI 1st. ...U 14 112 1114 112
1 EdUonEI rn 6a. 116 116 116 116
0FlPMlstes...ll4 114 1134 1134
4 FUntftPMBsPHdr 824 824 824 824
14 Kt Worth 1st..... 71 72 71 72
40FWRQ IstS-U. 664 60 664 60
llOalllftnSs 8D' 804 894 804
20 0. U ftBAMPBs 014 02 014 02
1 OaPaelst B-Ss.,1224 1224 1224 1224
6 Oreen Bay deb B. A 6 6 6
18 0fnElecdebSs..l004 1004 1004 1004
1 Hock V 6. 4B p. 764 764 764 764
2Ilan&RtJcn0s.l22 122 122 122
6 II ft T Cent 1st Bsl 124 1124 1124 1124
26IlftTexOcn0i..l08 108 108 108
22UftTG'entiinl4s 784 784 7b4 784
3 Harlem lat. r.... 109 100 100 100
43 Iron Ut 6s 884 884 884 8B4
11 III Cen 4s, 1963. .1014 1014 1014 1014
OlntftOlN 2d.... 844 644 844 844
1 IntftOtN 8d.... 44 44 44 44
1 Ind, III ft la 1st,. 88 88 BR 8B
0 Iowa Cent 1st.... 00 00 084 00
1 Jefferson BRlst.1 00 100 100 100
22KanPaccon,tr.. 80 86 86 86
45 Kan ft Tex 4a.... 80 804 80 80
07 Kan ft Tex Sds... 04 04 03 03
63 Kan C, PftOlst 7B4 784 78 784
7 LuledeOas 1st.. 1034 1034 1034 1034
OLexAvft PFlstl204 121 1204 121
7LA WBcnas....lOO 1004 100 1004
6LWBm6s.... 00 00 00 00
3LEWlst 118 118 118 118
1 LaftMoBiT lst1104 1104 1104 1104
1 LakeShdlTbds..l06 106's 1064 1064
21LakBb84s 104 1044 104 1044
11 LouftNcn 1024 1024 1024 1024
B0U)u4Ng4a 874 874 874 874
OLouftNgnl 1104 117 1104 117
13L4N ote 1014 1014 1014 1014
3LftN.HftMAgtSs 04 04 04 04
1 Long. Island 6a... 117 117 117 117
1 LebVofNY 1st. 1034 1034 1034 1034
10LebValT6a 1114 1114 1114 1114
180 11H8 IlwyBs.... 1134 1134 1134 1134
lOUo. KftE 1st.... 044 044 04 04
83 UinnftbtLen6sl004 1004 1004 1004
4Morft Ea con,.., 142 142 142 142
4 Morft Est lat 143 143 143 143
20 Ho, U AT of T Os 824 824 814 814
86 Man ltway 4a.... 064 064 044 044
lOMelKMat 1214 1214 1214 1214
28MotEI2d 104 104 104 104
1 MotiftO lat, N... 1204 1204 1204 1204
117 Mob ft Ohio gnl., 704 77 70 774
32MkbCent7s 1144 1144 1144 1144
4Ilcb0f.s, 1008.. 1004 10U4 100 100
1 MnPaccn 04 04 04 04
1 MoPaoeol 1st 6s 08 08 OB 08
4 Mil ft 1 1st. 1018122 122 122 122
2 Mil ft I. H 1st 1304 1304 1304 1304
10 Mutual Un fls.... 112 112 112 112
17Nil'aelat.o....ll8 110 116 1184
1 Nor I'u Ter 1st. ,100 100 100 100
47fc Jfurl' prior is... 1)64 00 064 00
aaONcrl'aognl Sa... 004 01 004 01
a3SorfWca4s... 7U's 704 7BTs 784
1 N J Midland 1st.. 120 120 120 120
lNYftSlitT 1004 1004 1004 1004
lNYftBuaVd 86 86 86 86
lONYftBcal 804 804 804 80S
16NJC.Q1 en, 18901004 1064 1064 1064
4JCenjol6a,r.U04 1104 110 110
01 NJCengnl 6....112'. 1124 1124 1124
4N YCntlat,c.1104 1104 1104 1104
lONYCentdebis.,1034 1034 1034 1034
7 NajihftChai CD..103 1034 103 1034
lONaabft Chat Oa.. 1034 1034 1034 1034
30NY,C'hSlL4...100, 1004 1004 1004
10NorIUtofCaJ6a.lO0 100 100 100
1 NVlfH,t 1004 1004 1004 1004
16HWsf6a 1104 1114 1104 1114
s
bptn- jfttV tew- ON-
MtM. Km. tins M. ft. int.
261 Wen 14ft 140 145 14S
UNWgold no 1104 110 1104
' Bonwroia.r no 110 110 no
6 H W s f dab tH,
1038 117 117 117 117
1 RWdebe IByrlOUS 10 OS 1004 100s
SlNT.OftWris.. 07 074 87 074
12NY.OftWenCa.1074 100 1074 1074
40talofttlatapdlOO 100 100 100
61 OrltftNlst 1164 1104 1164 1164
123 0rnX4a 034 084 OS 034
21 Orrton SLs....l234 1234 1234 1234
680SLenBs 084 09 084 084
lOOSLInoa 07 68 67 68
0 Ore Imp 1st, tr..l024 1024 1024 1024
1 4 Or Imp 6s, 4th I p 46 464 46 464
lOOmftStLlst.... 84 84 84 84
46 Pac of Ho 1st... .1044 1064 1044 1064
7Paelflcof itoSd.lOO 100 100 109
7ro,DB2d,tr 144 144 144 144
8PUtaWn lat... 79 79 79 79
6 P. 0, O ft SI L
aa-serA ms llls HIS 111".
OP, 0,0 tl I,
a.rD HIS 1114 Ill's HIS
4P,00 1aten6sllO 110 110 110
1 P.OAOSdrt.100 100 100 100
12P.SALE 1st.... 1064 1004 100S 1004
24R.WftOex6s.1214 1224 1214 1224
61 rtoeklal6 1074 107s 1074 107s
16 nook bl ex 6s. r 1074 107V1044 1044
aRockIsldeb6a..,1004 1064 1004 1004
277 Head ml 4a 804 804 864 864
222 IUoO Wist 834 84 834 834
26BclVelNK4s.. 834 834 824 824
14BtPftM!nnrn...l3C4 130 1364 1364
48BoPaeof Cal en. 02 034 02 034
23BoPaeofNUlstl084 1084 1084 1084
108tPftB01st....l32 132 132 132
06BtPUacn44s-1084 1084 108 1084
0 61 Pita 1st, Dex.1214 1214 1214 1214
14BlPMa2d. 122 1224 122 1224
2BtPM ex44s.. 034 034 034 034
08tLftBF2dcin.ll44 1144 1144 1144
44 8tL8Kenl6s..H0 lid's 1 184 1104
DOBt Lft8Fnt6s..l06 1064 106 1064
878tLA8F4 70 704 70 704
lMP.OftLBdlT.H7 117 117 117
10StPlst,HftD7sl36 136 186 136
38tP,D40tSo8sll34 1134 1134 1134
218tP,FBoAs 1304 1304 1804 1304
6bt P lsWCftp.
WO 118 118 118 118
18tPPlat.lDexl43 143 143 143
48tPlat,WMBsll04 1104 110 110
l2 8tLSut 73 78 73 73
2 8tPftDiil2d....l07'4 1074 1074 1074
SOBAftAPlstis... 014 014 014 014
17BC0lst 044 06 044 06
1 19 8outh Railway 6s. 04 064 044 064
OBtJftOIS-3-4a 714 714 714 714
24 Stand RftTSs... 684 684 63 604
60 Stand It ft Tin .. 124 124 10 114
44S.LaftElst.tr.. 40 40 40 40
32 Tex ft Pao 1st 6s. 08 08 074 974
84 Tex rao 2d In.... 284 2D 284 284
3Terrenauielst..l06 106 106 106
20TexftMOcn6s.. 084 084 084 084
11 TClftllCs.Blrd 80 87 80 B7
406CnPPUctfs....lll4 1124 1114 112
4CnlonPaces.trll84 1134 1134 1134
8UnlonPao80a..103 103 103 103
83 Union Pao 00a.... 1034 1034 1034 1084
4 Union Pao 07a.... 103 103 103 103
10CnlonPaoaf.tr.1124 114 1124 114
100UPacCT6a,C4
V cent. pp... 434 434 43 43
EOPaoOTCa 103 103 103 103
eOUntonEllst.tr. 82 824 814 824
17UP.Dft0 1st.... 484 40 484 40
lUUt ft Del 1st.... 1024 1024 1024 1024
OVa Midland (S1..1034 1034 1034 1034
66Wabasblst 1074 1074 1074 1074
43Wabaabd 804 804 80 804
21 Wab.DOer..1004 1014 1004 1014
4WeatUncol6s...lll 111 111 HI
gWeatPactno. 1044 1044 1044 1044
8WeatSboreia....lll 111 111 111
18 Weat Shore ia.r.. 109 100 109 100
6 WNYftPalat..lOG4 1094 1094 1094
84WlsCentlsi.tr.. 324 844 334 34
27 Wilkes ft Ea 1st.. 034 934 03 03
WChanOi 09 00 09 00
Ix Interest
Total sales ot rallwar bonds Qparralne), SB. 506, 000.
RAILWAY. AMD OTnER SnARES.
Open. Htgh. Low C7oa
Safes. Kams. tnc. tit. ttt. tng.
MOAdamsBx 100 100 1604 100
lfi0MHAm8ugRef....l414 1414 1384 1404
OOSAmSuf IUfpf.114 116 114 1144
8860 Am 8p Mfg 04 84 04 8
8020AmBpHfgpt.. 164 20 1S4 20
406 Am Cab! 004 004 90 00
1SB AmorDlitTaL. 23 23 23 23
e.7210 AmerTob 874 004 874 884
JI0AmerTobpf...ll44 1144 1144 1144
4BAmerExpress..ll74 1174 1104 1174
1000 Amer Cot Oil.. 234 234 224 224
E3B AmerCotOllpf 704 704 70 70
14B3 AtctuT ft 8 Fa.. 134 134 124 124
14S6SAteb.Tft8Fpt 304 31 30 304
480 Ann Arbor pf.. 34 34 34 34
1240 Butt. H ftP..... 26 31 26 31
1780 Buff. B Ppf. 00 004 00 004
00BrooklynEI.tr 74 74 74 74
BOO Brnna, 1 1 p.... 04 04 04 04
8946 Bait ft Ohio.... 134 14 134 14
ZOOBur.ORftir... 09 00 00 09
12BW0 Bay State Oas.. 44 44 34 4
72W88 Brook RT. 344 374 34 374
744 Brook UnOaa..l 18 1184 118 118
0D4 Can Southern.. 63 63 514 614
lBOConsallee..... 324 324 32 32
00 Consul Ice pf.. 884 884 88 88
SOSIl Ch at Weat.... 164 164 144 16
820ChOtWestpA 344 364 344 364
8S0 ChOt West pD 26 264 26 264
808 Central Pao.... 114 114 114 114
1864RCbesftOhlo.... 224 23 224 224
100CbloftAlton...l02 162 102 102
100 0. 0.0 ft St L. 34 344 344 344
SOfllChlcftNW.... 1214 1224 1204 1214
211CbloMWpf.l034 1034 1034 1034
B7741C.BftQ 1004 1004 004 004
61616 C, lift St P.... 064 00 044 044
876 0,11 ft St Ppf,. 1424 1424 1424 1424
lOOlOC.niftP 014 01 804 804
4896001 Fuel 244 20 24 20
144 Cap Traction.. 61' 02 01 02
lOOCol. 11 VftT.... 64 64 64 64
SCO Col ft H Coal... 04 64 04 04
10060 ConsolOaaCo.. 1834 1834 175 177
400 C, Ind ft L 0 04 84 84
100 C. Ind ft L p.... 30 30 30 30
1117DelftHudaon..124 1124 1114 1114
1400Del.LaekftW.167 167 166 166
100 Den ft RO pi.. 40 40 464 464
1700 Deal! ft FtD.. 12 134 12 13
4DeMFtDp 70 70 70 70
6 Dili. S 8 ft All.. 6 6 6 6
410 Erie Bit, 16 16 144 144
1700 Erie RR lat pf. 384 384 38 384
80 Erie It R 2d pf. 204 204 204 204
701MUODEI 126 130 125 130
180 Ft W ft D O, a.. 184 184 184 184
BOOrDftW.deb.. 76 75 76 76
7880 Oen Electric... , 334 344 33 84
6 nBCIadln 1st p 044 044 044 044
26 Homsstuke 464 464 454 464
8C0O Hawal O Sucar 274 284 274 284
171 8 Illinois Cent.... 104 1044 1034 1034
600 Illinois Steel... 40 40 484 40
116 Iowa Central.. 0 0 0 0
OOOIowaCent pf.. 32 324 32 324
8026 Kan 0, P ft 0 204 204 104 204
lOOLEftWeat 104 104 104 104
B80 Lake Shore.... 173 173 '171 171
DO Long Island.,.. 40 40 40 40
liBOLaUedeOas.... 444 444 434 434
200 Laclede Oas pf. 01 01 01 01
14670 Lou ft Nash.,.. 604 67 664 604
1B7U20 ManhattanConlOO's 1124 10D4 1114
08D Htnn Iron 68 68 68 68
41111 lletStRy 133 13341204 1204
700 alien Central... 1034 103" 1034 1034
071lft8tL.latpr 80 80 804 804
4U7MftBtL, 2dpf 674 68 674 68
B7B0 Mo PaelDo 344 344 334 34
MOMo, Kft Tex... 13 13 13 13
SS3H Mo, K ft Tex pf 30 30 364 364
110U Mobile AOblo.. 28 30 28 2U4
100 Natl Btarcb 0 0 0 0
170 Natl LOI 17 17 17 17
12620 X J Coutral,,,, 084 084 044 00
7U7K NY Central.,., 1074 10741004 1004
017B Nat Lead 37 384 304 874
007 Nat Lead pf.... 106 1064 106 1064
S10 North Amer.... 44 4 4a, 411,
SOON Yft Nil 1824 1834 1824 1834
146 NY A SI !..... 13 13 13 13
BON Y,LW...121 121 121 121
20NY,BftW IB 18 18 18
1888 H Y, 8 ft Wpf, 83 334 32 334
BBHNorfftW pf... 474 474 474 474
102SO Nor Pacific..... 214 214 214 214
26074 Nor l'aeinopf.. 604 604 684 60
evOmftBtL. 84 84 8 8
8260 Ontario ft W. 104 104 164 164
820 0relmp.4thlp 174 184 174 184
100 Ore RAN 364 364 864 364
4780reHAHpf... 00 004 00 004
U86 Oregon S L...., 18 10 18 10
24S8PaclfloMaU.. 204 304 804 804
, r- ; .
Op JNosV ty Oaf
Ms. Ifatn. tao. t -
770PD4.,. S s 4 s
Bit FaliralOarOol734 1734 178 1734
4886 P. 0,0 ft St L... 39 804 384 30
Olbp.C, OftStLp. 07 07 00 00
9080 Pennant..... 1134 115 1124 1144
81681 PeopOftO.,.. 074 074 964 004
SOOOPhenlxM 07 .00 -07 ,09
1760 Reading 234 234 214 22
16000 Reading lat pf. 63 684 604 614
1040 Reading Sdpf.. 284 284 274 874
eSOIiloO Wpf.... 004 014 '004 004
640R.WAO .122 1224 122 1224
SSSBtLBW 44 44 44 44
SISStLB Wpf.... 04 04 04 04
BOO 8tP ft Omaha.. 78 78 774 774
20KtPOm pf..ltl 161 151
478StP.MftM....121 122 121 122
1800 8outh Pacific.. 204 204 204 204
8IB8 South R'vraj... 84 04 84 04
14804 South R'waypt 324 324 31 324
DOaSMoftOtlstp 684 634 624 624
707RUoftOI dp 104 104 10 10
176SStl.ftSF .74 74 74 74
4l08tLftSFlstp 67 67 604 604
lailfitLftSF 2dp 204 204 204 204
SSVSStandRftT..., 84 84 24 84
lOIOBTsnnCftl 264 264 264 20
200 Twin City RT. 144 144 144 144
S862ThlrdArRIl..l724 173 104 106
moTexaaPaclflo.. 114 114 104 114
VBRBUnPao 204 204 264 264
200 Un Pao, D ft O. 04 04 04 04
170 U 8 Express. ., 40 40 40 40
101 US Rubber.... 164 104 164 104
0H U 8 Rubber pf. 07 07 '044 064
810 U 8 Leather.... 7 7 04 7
1786 US Leather pf. 04 04 03 034
SOOVfabaah 74 74 74 74
1786 Wabash pf 184 184 174 174
6b Wells-Par Exp.l 18 118 HO 110
46071 Weat Un Tel... [phone]
880 WhftLF. t r.. 2 8 2 2
lOOWbALSptr 10 10 10 10
080 Wis Central tr 2 2 14 14
BOOWCbSR'way.lOm 1014 1014 1014
BOO WnUn Beet.,.. 8 8 74 74
ExdlTldmd.
lutal sales. 1,124.341 shares.
SILVER CERTIFICATES.
Open- IHgK- Low- Clot
Sates. A'ama, ing. tit. tit. fno.
10000 Bllrer bull etfs.. 67 67 67 67
8DNDAY, Jan. 2.
Tho Imports of ironcral merchandise, Includ
ing dry Roods, at the port of Now York last
week wero 6(1.704,201, against $8,200,701 the
previous wock and 8,070,005 for tbo corre
sponding; week of last your. Tho Imports of
specie for the week wero 8130.8G8, of which
9104,832 was gold, making total specie Import od
slnco Jan. 1, 1807. $10,471,572, Exports of spo
clo were: Gold, $3,100, and silver, $1,300,340, a
total ot $1,305,440, against $083,740 tho pre
vious week. Tho oxports of spcclo slnco Jan. 1,
1807, have been: Gold, $20,203,703, and silver,
$47,874,648, a total of $77,078,438.
The weekly statemont of averages of the
Clearing House banks shows:
Dec. 24. Dta. 81. Changtt.
Loana....t61n.H0H,800 H07,;H1,000 Dea.t2.B2t.70n
Deposits. 6HU.lnS.A00 67.1.0114.2110 Dee. 0.931. (100
ClrTtm. 16.7JK.60I) 18.607,200 Dee. 221,800
LVlt'rs. 74.412,000 79.K24.10U Inc. 6,421,2110
Specie.... 104.403,700 104,780,7011 Ino. 827,000
Res'Te..tl7S.R0n.A00 S1HI.S64 8(10 Ine.(8.74K.'J00
Re'Ter'd 107.2ts.160 ieH,76,i)60 Ino. l,4H2,no
Surplus 1 1,628,400 810,788.700 Ine. 84,263,800
Tho surplus a yonr ago was $33,286,000 and
two years ago $10,770,670.
J. P. Morgan & Co. and their London cor
respondents, J. S. Morgan & Co.. announce that,
having made a contract with tbe New York
Ctntraland Hudson River allroad Company
for tho retirement of Its entire bonded debt at or
before maturity, thev are now prepared tore
reive not exceeding $20,000,000 of such bonds,
debt ccrtlflcatesor debentures for exchange Into
the new 3a V cent, gold bonds of the company.
The outstxnillng bonds and debentures or debt
certificates will be recnlred by them at their
present ralue calculated to maturity on n Sj
per cent, basis. The existing bonded debt all
matures on or prior to June 1, 1000. nnd the
new mortgage provides that none of It shall be
extended hevond that date Consequently, on
Its retirement the new bonds will be a first
mortgage on the railroad property and real
estate of tbe Now York Central, Including Its
railroad terminals of great value at New York,
riuftnlo. and other points, all the equipment of
the company, and also Its leases and other
property,
Morton, Bliss ft Co. of this city and Morton,
Chaplin sCo. of London announce that they
are prepared to Issue travelling credits In circu
lar notes of 10 and upward, available In all
parts or the world, at the current rate of ex
change. Frederick J. TJsman has given nn interest In
his firm lo David M. Mlnzeshelnier nnd will
hereafter conduct his business under the name
of F. J. Llsman & Co. 1
The United States Mortgage and Trust Com
pany will pay on Jan. 3 coupons on a number of
securities, a list of which will be found In 1
another column.
Wlnslow, Lanier & Co. will pay dividends on '
a number of securlll a. a list of which will be
found In another column.
financial.
mCHARlf v. harwettTco.
REGULAR AUCTION SALE
STOCKS AND BONDS,
Tuesday, Jan, 4, at 12:30 P. M.,
at the New York Real Estato Salesroom, 111
Broadway.
(Tor account of whom It may coneern.)
SOabarea Western National Bank. (100 each.
lOabareeE'otriiOasCotnpanj, 110 i eacb.
60 ahar-s Norfolk and Boutbern Railroad Company,
(100 each.
Lists at Auctioneers', 71 and 73 Liberty at.
Mortgage Investors
can accuro choice mortgage and absolute
safety of principal and interest by purchas
ing tho fruaranteed mortgages of this com
pany. A largo number always on hand for
Immediate sale, saving Investors loss of In
terest by delay.
P0W(jAiE (jUAipTEE (0-
140 Broadway, 175Itemnon St.,
Npw York. Brooklyn.
CAPITAL & SURPLUS, $1,300,000.
UlnlCUTOIINl
Of orge a. Williams, William M. Infrahasn,
Aleiander E. Orr, John J. Tueker,
Jacob II. Hell n. William Lunimla,
John W. Slrrllng-, Janus I). Lyn h,
Charles R. Heuilrrson, Benjamin D. Illcks,
diaries 8. Brown, Julian T, Datlw.
Frederick Toiler, Felix Campbell,
Samuel T. Freeman, Wi sley O. Bush,
Ellis D. Williams.
WILLIAM B. I3IIAM MARTIN JOOST.
President Vice-President.
CLAHF.SCK II. KKLHKV, 2d V.-e-itldent.
FRANK BAILEY. MARTIN WELLES.
Secretary. Treaaurer.
To Borrowers
To Lenders.
During tbe first eleven months of 1807,
this company nan loaned on mortgago In
New York and Brooklyn, and sold to In
ventors the mortgages taken, to the follow
ing extent;
January $1,731,000.
February 1,020,000.
March 1,002.000.
April 2,304,000.
May 2,738.000.
Juno 2.680,000.
July 2,0S1,000.
August 1,040,000.
September 1,171,000.
October 2,317,000.
November l,0r7,000.
Total $22, 137,000.
Borrowers should apply to It. They aava
commissions and disbursements.
Every good mortgage promptly accepted.
Lenders should apply to It, Tbey get
good mortgages and save loss of Interest
by delay.
TiTrJE GUARANTEE
and TRUST COMPANY.
140 Broadway, 178 Remsen Stf,
New York, Brooklyn,
CAPITAL $2,500,000.
SURPLUS, $2,000,000.
fSsaSasstasssaaaaslsasaaatsa m iaisssiisAstnw iii timmttt
Mobile & Ohio
5 Per Cent
FirSt Mortgage Bonds,
Due 1947.
(MONTGOMERY DIVISION.)
Total Istne four Million Dollar.
PRINCIPAL AND IJfTKItnST PAVADLE IS OOLD.
INTEREST FEBRUARV 1ST AND AUOUST 1ST.
MODUS. December 1st. 1897.
lb flia Central IViiSl Company nf Ktw York and
tttttrr. lUrUoattin Co., Ktw York. N. Y.:
OEXTLEJir.Ni
In repone to jour Inqnlrx, t beij to recapitulate
tbe statement msdolo jou under date of February
IB, 107.
The Mobile and Ohio Railroad Company owns and
operates 027 miles of main line and branches, and
operatea, un'era lease from the St, Loul and Cairo
Railroad Company, ldl miles, the main lino, from St.
Louis, Missouri, to Mobile, Alabama, being; 84.1 mllesi
connecting at East St. Lonls, and at St. Louis, with
the network nf Roads reaching all parts nf the North
and Northwest, an I connection, t Meridian, with the
New Orleans nnd Northeastern for New Orleans, and
at Mobile with the rations steamship lines terminat
ing at that tort.
Cn June HO. 1 "07. the funded debt of the Mobile
and Ohio Railroad Company amounted to:
First Mortgage Bonds, tearing S per
ceut. Interest 18,000,000
General Mortgage Honda, bearing 4 per
cent. Interest O.rm.MO
With SM7,,'00 due on aconnt of Car Trust Notes not
then matured. Since which date there has been no
change, except list the Car Trust Notes hSTe been
reduced In th" sum of SlO.ono.
The ComianT baa nn floating debt. It operates th
St. Louis and Cairo Railroad under a lease bearing
an annual fixed charge of Sinn. 000, with a slight
contingent Interest, dependent on r'Tenne.
The operation, for the paat ne years, of the entire
line, owned and leased, has shown tbe following re
sult! MOBILE & OHIO RAILROAD COMPANY.
STATEMENT TOR FIVE TEARS.
ENDINO JUNE 80.
Gross earning. Net earnings.
ISflS S3 S1M7n III 1, 080,171105
10 S.SSS.nOl 17 1.20U.0S7 OS
1H93 8.nfl,(180 OS 1,113,5118 03
lhf)B S.AIA.071 8t l.SSB.onS SO
1897 8.857,030 33 l.SbS.BOB SI
Fixed charges. Net orer.
1803 l,0t2.21d SS $38,330 07
1B04 1.0.17.383 SB 171,713 83
189.1 1,034.833 79 81,141)10
1HB0 l.OIH.nai 99 234,837 81
18117 1.0B0.1B0 49 223.7(10 19
and for the drat quarter of the current year ending
September 30, 1897, as compared with the first
qnsrter or th prerlous year, the operations of the
Company ahowt
Oroaararnlngs $954,710 $8M,2(I3 Increase $91,418
Operating ex
penses. 641.105 SRn,480 " A0.88B
Net earnings.. S313.84B $288,818 Inerraae $30,730
The extension of the Mobile and Ohio Railroad
System, by the construction of the Montgomery
Dlrlslnn, from Columbus, Mississippi, to Montgom
ery, Alabama, with two Tranches, Is proceeding
rigorously, and the contractor hopes to be able to
deilrer tre completed Road to the Company In the
early spring.
Of the $4,000,000 1st Mortgage Ronds disposed of
to you, and whlsh you state you are now abont to
offer to InTeators, tbe proceeds of $100,000 baa been
sneoiflcally set aatde and appropriated to the pur
chase or equipment on terms most farorable to the
Company. The proceeds of the balance of tbe Issue,
SS.rtOO.ooo, baa been, and Is, specifically held and
applied as tbo work progresses. At tbe last dates,
about ninety-Ore per cent, of the entire grading has
been done; a large part of the ratla, etc., for the en
tire line are on the line nf the Roadt the laying of the
track Is proceeding as rapidly as surrounding con
ditions will permit i th superstructure of the bridges
orer the Alabama. Warrior, and CahawhA Rlrera Is
under contract and In process of delivery; the piers
and permanent structures are being rapidly com
pleted, and from one end of the line to the other the
Contractor ts working.
The entire length of the main Una of the Mont
gomery Division, from Columbus, Mississippi, to Mont
gomery. Alabama. Is 108 miles, with two Branches,
these latter not only enabling the Mobile ami Ohio
Railroad to reach coal for Its own consumption, for
which It is now dependent upon other lines, but also
enal ling It to control coal for general use, and,
especially, to supply Montgomery and routheastern
points. At Montgomery, while committed to no one
of the several lines terminating at that point, It will
be In a position to deal with all. The business of the
Mobile and Oblo Railroad proper, reference to whloh
la contained In the annual and monthly reports. Is
showing a continued r.nd healthy Increase, and tbe
addition of the Montgomery Division will not only
contribute to this same end, but will also put the
Mobile and Ohio Railroad In a position of equality
with Its neighbors and competitors, and the fact of
lta being the shortest line from Montgomery to St.
Louts will give It a voice In tbe making and main
ta nlng of rates, not only to lta own advantage, bnt
to the development of the entire territory through
which It runs.
Deducting the amount of Bonds applied to tbe pur
chase of equipment, and the extra cost nf the expen
sive bridge across the Alabama and Warrior Rivers,
the Mortgage lien upon the Montgomery Division Is at
tbe rate or not exocedlng $17,000 per mile, and the
annual charges upon this line will be slightly over
$1,000 per mile. In the construction of this Division
no Issues of stocks or bonds other than those Included
In the $4,000,000 now Issued to you have been made
I ahall be pleased to rurnlsh you with any further
Information yo'i may desire In connection with the
Management and tbe property.
Yours truly,
(Signed.) J. C. CLARKE, President.
Apnllratlon will be made ta bave tbeae
tsonds Haled n tbe !Vaw York Stock Rsehanae.
A large portion of this Issue baa been taken
ror Investment.
Tbe undersigned etTer for aaln a limited
amount r tbe abeve bwtideat OS l.v nnd no
erued luieresl, subject to advnnce ssltbout
nation.
Tbe bends are ready ror delivery.
Central Trust Co. of New York
Bt WALL hTHKfcT.
Hallgarten & Company,
88 DROAD STREET,
ioo nitntnw.tr, hmv voiik,
05 OnESHAM ST., LONDON, K. C.
CAPITAL $1,000,000.
UNDIVIDED P.-OF TS. $200,000
Anthorlzrd tn nn ns Truster, Uuardlnn,
Aolgnep nnd V seal Acn .
All runeervallre trunt company buslnes
nceepte I.
HAMCF.r. M J MIVIS, rresldent.
ROLAND It CONKLIN. E J CHAPPKLL.
Vice-President I'0donTren surer
B. B. nARDEUT, SL. CONKLIN.
London Btctetsry. 8i-crHry
Government and
Municipal Bonds
BOUOHT AND SOLD
APPRAISEMENTS MADE OR QUOTATIONS FUR
N1SHED FOR TUB PURCHASE, SALE, OR EX.
C1IANOB OF AllOVK SECURITIES.
M8T8 ON APPIjIOATION.
N. W. HARRIS & CO.,
DA KB Its,
$1 NASSAU BT, (Bank el Oenuasioe BaUdlss
ctfiannelM.
mtmm.mmm . - . . ., -, rirs.-.s-siiin,iLr.-,r,(, , ,.J-,J-tnj-
ISSUE OF
Sixty Thousand Shares
or Tim
United Traction Company
OF PITTSBURGH, PA.
Five Per Cent.
Cumulative Preferred Stock.
(DF.INO TOTAL AMOUNT OK 8A1D STOCK.)
I'ATI VAI.UR. USD PRIt Mltltti
DIVIDENDS PAYADLK JANUARY AND JULY.
i
After careful Investigation we purchased, for our
selves and others, the above sixty thousand shares of
Preferred s-oclc, and offer the same for sale at $10 00
per share (ex-January dlvlilen I), payable on Wednes
day, the I xth day of January, ISHH.nt which price,
till, atiirk would jleld a net Income or U 1-4
ner rent,
Referrlnn to the prospeMus containing the letter of
President James p. Callcry, the loal opinions of
I John O, Johnson. Esq., of Philadelphia, and Oenrite
C. Wilson, Esq.. of ril.burh. and i-irtltleateotCol.
John A. Tompkins. Kxpert Accountant, of n tlmnrs:
II will bo seen that the United Trartlou Company (a
practical consolidation of three exltlnn traction
companies), ornanlred In July, 1X1)7, irlth a franchise
for bun years, owns nnd operates, under lenses for
930 years. 117.1.1 miles of trolley road In theltles
of Pittsburgh and Allcith ny, and cuunoctlnit those
cities with MoKeesport, Homestead, Ilraddock, Wll
merdtnit. Turtle Crees, aud other Important manu
facturing towns, and that the lima or ro,d now
i owned and controlled bv the United Traol'on Com
pany earned In twelve months, ending November 80.
18U7 idurlnic seven months nf which period the roads
wero operated under set arate maunRcments), nioris
than enough not onlr to pay the Interest nn all obliga
tions then outstanding, but also to have paid full
dividends on tho Preferred stock! that for the five
months ending November 80, 1897 (for which period
only the Untied Traction Company has been operat'
Ins the constlti ent properties),
Orosa receipts wiru $019,143 48
Operating expenses. Including taxes and
lnaursnce 807.R2B 01
Net earnings $311,319 S3
Pro rata fixed charges for flvo months... 30H.0U 07
Surplus $IU3.270 SB
Six months' dMdemls on $3,000,000
Preferred stock 75,000 00
Surplus earned In five months over full
dividends on Preferred stock for six
months S2H.370 83
A dividend of giper cent, has been declared upon
tbe Preferred stock, psyable January 3. 1R98.
It Is expreasly provided In the terms and condt
tlons of preference, under which this stock Is Issued,
that the Preferred stock of this Compnny Is entitled
to receive cumulative d'vldends at the rate of 8 per
cent, per annum, which shall at all times be paid. If
earned. In preference anil priority to the payment of
any dividends on the Common stock, and addition
ally to share equally with the Common stock In the
surplus profits In eacb nnd every year after the Com
mon stock shall hat e received dividends at the rate
of six per cent, for such year.
Application will be made tobave this stock "listed'
on the Philadelphia, Daltlmore, and Pittsburgh Stock
Exchanges.
Coules of prospectus, maps, counsel's opinions, eto.,'
may be obtained at the offices of tbe undersigned.
Hub.crlptluna will be opened at our offices on
the morning or nrdneadav, th,- itrib djorJnti
uarj , I MOM, and closed at 3 P. M. the following day.
Allotments will be made as promptly as possible
thereafter.
The right is reserved to close the subscription earlier
than tbe above date, to reject applications, or to allot
smaller amounts than those applied for.
Alex. Brown & Sons,
Baltimore, Md.
N. Holmes & Sons,
Pittsburgh, Pa.
December 34. 1S97.
Esfabrook & Co
BANKERS
31 Nassau Street, New York
35 Congress Street, Boston
BANKING HOUSE OF
HA.GHT&FREESE
53 BROADWAY, NEW YOHK.
A3 Stat st , Ifonton; 401 Walnut St., Philadelphia,
Ex rout order) In r tookn. I.onds, drain, Cotton, and
Provisions nu the Mow York, Plilludelp la, Boitnf
and Chicago Or ilu ami fttrxix Ex hinir. , for InT.-at
nuntorto Ih carried nn mjrKlnor B to A pr r in..
at moderate rates or Int.-rrst, and lld commission, j
Interest Allowed on tuarfilu aud deposits, subject to
oheck at tlffht.
Wrltn or call for our "40(M,A(1K SECURITY '
MANTA!.." rumedeil by LlankN, Uxchanses, I'resf,
and Hoards of Trade t I the bt utailst oa fluan i
clal publication c.ir Isau d l.y auy Daiikln? House,
OMnjf maim, irpfirt, e ruing', and jrir-cit for 10
to ;.u year, tlieri.-. uuaWiiu ImeMors to ujxrutG on
their ov 11 UiilRin m,
ISS'-E1 i-KVriK AND MAII.RD FREE.
IKTIUtItl. Till. flAIAI. lllPOV
flllllMll OFTIU; MUM WITH lVtlH'll OV
driii 11 s nii(iitr.tT an nv.t,v.imti
Till'. lllfl.HT HIOI K,
)Seyr York, Philadelphia, and Unitou National flunk
rpterrnct fuiuUhod
Twenty iar- experience, tarffrst clientele, most
commodious oftlces. tvl Itrolceruo service,
Private wire to Uoti n Phlladt Iphla, and Chicago.
Ilr.nii'ii Oilli'e, IIII-J II i.i.duni, ,
MAGY & PENDLETON
45 BROADWAY.
DIIANCH OFFICFHl
No. 62 I Broadway,
7 53 Fifth Avenue.
IN. Y. Stock Exchange,
N. Y. Produce Exchange,
N. Y. Cotton Exchange,
N. Y. Coffee Exchange.
W cf AsliKell. E. 1). Mortiun Waterman.
Mwell & Co.,
o itromi si.
ArArn-n-Tic! J N v- s,ock Exchange,
MEMBERS Nf v Pfoduce Exchan2e.
HAVIN & STOUT
1 Nassau Street, Cor. Wall St.v
New oil. t 'fH Uachange,
Members of J New Ycrk union Kxuiance,
ICIilrar" 11 -"nl of Trails,
Order eisculed on the above Eschanrea la
I0NOS. STOCKS. COTTON.QRAIH
ssasj
eHinancint. 'JH
"""" - - - I,,. 1. 1, j H
New York Central & IB
Hudson River R. R. Co. lm
3 1-2 Per Cent. Bands of 1997. f 9
Principal anj latcr-sl paratile In (10LO COIN OF 1 sLI
THE UNITED STATES of t le present slan.lard ot 1 H
weight and fineness without ilciltu'tion roranr Ux ot ''' !H
taies whloh the Ilnllroail Company msjr le required M
to pay or to retain therefr nn lunlei anr presont Of ft
future law "of the United States or of any Stat 01 S kH
County tberof. r- sH
NEW YOIIK AN!) LO.NUOM, January 1st, lgoa, H H
To Ualiert at lloruli ami Dtlt Ctrtytcatri or Dtbt. . ' nH
NEW YORK CENTRAL AND HUDSON RIVER ;h
RAILROAD COMPANY, f
First Mortgage 7 Bonds, duo Jaa. I. a H
.903;
I Irsl Alortgago 6 Sterling Bonds, dno SlH
Jan. I, 1903;
Extended K Debt Certificates, das if I
May I, 1905; I
1 Debentures, due September I, 1934; W I
k, Debentures, due June I, 1935. IflBM
HaTluit marie a, contract with the Sew York Central jlisl
and Huilson Hirer Itallroad rmnpauy for the retire- vPinl
mt-nt of Its entire bonded debt, as aboro, at or before r'Jafsl
maturity, we are now iropniecl to receive not exceed aftVnfl
Inn 2Ci. (Hl,(ll)0 r tlie nlinvi-mentloned Donds, Debt E IH
Certificates. nrlHIioutures for exL'hnnun Into the now M; M
Three and One-llair l'i r Cent, Uold Ilonds of said m
Comnsn). The outstunllnir llondi and Debentures l
or Debt Ccrtlflcalet will ba r-clvcd by us at tholr - aH
present Tallin I'nli'ulatcd lo maturity on a 8aper M
cent, basts, as follows. M
n
1RSUK. I Dl'F,. VALUE. OH. : B
First MorlBane ti H
7s Jan., 11103 HB.OUp.cent. Jan. 1,1800 , m! JM
FIstMortRiKe Jan. 1,1698 l'i H
BtirliuK Os.. Jan, 1P03 lOS.tlp.c. V
Figured ,s iU
on basis of V l
$973.3 3 )AM
par for I
each bond , jH
of 200. i
Extended Debt B
Ctfs.4s May. lBftl inn.!7 p.cent. Nor.l.lROT H
Debenture fts.. K.pt..l(iot loii.'ji p. cent. Sep. J.inDT !
Debenture 4s..iJune. lUO lua U7 p cent. Dec. I.1MBT ,
IU.MUIKsT H
Inltrttt at the rnfeo!Hj ptrcrnt. on money valu
culcufnferfrom that dattt to time of deltlerv will on 1
paid in uddtttnn. i i jB
Tht bond mutt bear tht currtnt coupon. H
The new Three aud One-Heir Ter Cent. Oold nonds H
will be delivered In payment at 103 pur cent., and i H
aocrued Interest to date or delivery. Fractional r. H
differences wlllho adjusted In cash. r,i M
The existing I oudeddtbt all matures on orprlorte 'j .H
Juno 1, 1005, and the new mortnai' provides that '. H
none of It shall be extended beyond that date. Con ! H
seqmnlly. on IU retirement, the new bonds will best S
llmt mnrtR-n&re on the railroad property and real 1
estate if the New York Central and Hudson River H
Railroad Company; Including lta ntllrnad. terminals H
of extraordinary value at Now York. Buffalo, end ' H
other points, all the equipment of the Company, H
and also Its leases and other property, all as Is mors) H
fully snecined In the mnrtgaK. fl
Copies of the mortgage securing tbo new bonds may H
be obtained at our office. .. 'Q , H
j. p. Mono ax & co.. M ffl
UU WALL STIIEET, NEW YOKE. , f fl
.1. 8. MORGAN' & CO., T?lH
SD OLD BltOAD bTltEET, I.O.NDO.T. f 9
(January H
Investments. j
140,000 Soutiifield. N. J., 5s, 1027. jfl
78,000 Long Island City 45s, m II
10,000 Nyack,N.Y., 4s, io,7. I'm
55,000 Luzerne Co., Pa., 4s, ieoo, 1000. it 1
50,000 Essex Co., N. J., 4s, 1020. -I
1 5,000 Bernards, N. J., 5s, 1017. uaa. ; 1
40,000 Winston, N. C, 6s, ww. xms. ' 1
66,000 Paris, Ky., 4Js, ibob. u2.
40,000 Greenwood, S. C, 6s, ipso. ; 1
300,000 Raleigh and Gaston R. R. 7 1
1st IVItge. 5s, lot?. .
25,000 Steinway Ry. 1st IVItge. 6s. 1
AND OTIILR DESIRABLE SECURITIES. T 9
edwardc7jobjes CO., I 1
I Nassau St.. New York. f M
THE STATE TRUST CO., I
IOO Itroadsrmj. '(
Capital and Surplus, $1,800,000. K
Acta sia Trustee, Itevlatrnr. Tnsnsfer nd sTls H '
cnl Arent of S'orporistlona. isnd ss Kieeulaiv ''
Admlnlslriitor, Trulee, tiunrillnn and t'ommlt '
ten or K.lnlee, Lecnl ttepoallory Tor ourl ISMSl
TrlMt Funds, lakes full S'hnrae or Ileal and '
rer.ousl E-lnlei. Inleresl Allossed on llepealta. 1
FKANCIS K. DANOS, President.
W A. Nlim!,0M,, I Vlee-I-resldent '
Jl Auh'lCE S.' DCCICKH, Secretoir. ' I
JI H. hit t.NClh, Treasurer, , ,
It, U. IIEIIHY, Trust OlUcer. i '
TItUSTEKS. '
Willis S.ralne, Henry Hteors, ,'W
Henry II. Cook, o. orxe V. Qulntard, S
harlea 11. Flint. rorrest II l rkr, i
v L. Trt'iiholiu, Cnarlesbcrlbner, !t
William II. Kcuilall, Charles L Tlltany, 'l
Walter H.Joliiiann, i-ooriji' W. White, T
JrwepliN Ilalliiek, IVlclial Knauth, ,1 '
l'..ln.u A. MoAlp.n, Francis h. 11 nigs. I
Andrew Mills, Fraucla Lyn le Htetsoa. J
William A Nush, Thoiuas A Helntyr. 4
(IcoiKe Koet r Teabody, K Iwanl K. 1 or. 9
J, D. lTub.t, Alison t). UlCook, d :
234 fifth AVr-. fon arriisT. 1
lillA.NCll. 00 llUUAIIW A V.
CAFITAL, . I,OOO,OOO.0S
I.Knls DEl'OSlTOHY
For Plan-, ("II), and ( ourl .Moneys. 1
Iiiliri't Alloited on 'I line llepo.lls.
Checks passed through N. Y, Clrarlnc-hous. VI
Acts as Kierutor, Ountillun. or Administrator eC U
Rststes snd as Itn elver. Ilet'lstrnr, Transfer ill J
Fluauclal Aciot for Htsles, II tllroads and Corps- 7
rations. Separate Department with ,
Special I'arll'tl for Ladles.
nonnitT flACLAY. President.
CIIAIII.ES T nAn.N'HY, Vice-President.
JOhCI'll T 11I10WV, 2,1 Vice-President
l'lll.D'K I, i:i.l)tll)(li:. Secretary.
J. IIENIIY TOWMIKM), Ass't BecretsrJV
HENRYCLlBWS&Ca7
IIANrthltS, '
II, 111, III h.mI IT llruad hi.
MciMliOm
N Y BfjeL Exchange, N. Y. Cotton Eiehsnte,
K T".1 i' I' I ic'iiuiee, ChUaKO Hoard of Trad.
Ordi r. ciiM.li 1 for luvestini nl or on inartftn. In
leri'.t an. i-1 on dcp'olls. sulijeri torhick atalght.
Act a. flnuiiulal Akiuis for I'orpurallons and In
vestors. ).03 FIFTH AVF.cnr 21th St.
in; III! i Ml a AY. Mlk V.x-ie Bids;.
hT ll"Iii.N hT . !tr. sutlle Ei7f.
IB CQUItr bT.. Ilmoklyn.
Kountze Brothers,
BROADWAY AND CEDAR ST.' HEW YORK.
u .iiiJ make advances on Railrutct, Munici
pal, ami iiier becui ities.
Uravv l.nisoi fciluni;e on Lnc'ind and the
Contine.it. and nuke Cable Transiers.
ibrolr udtsrrus.Als umicr thlt htad4tLf td$