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The sun. [volume] (New York [N.Y.]) 1833-1916, July 18, 1898, Image 7

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83030272/1898-07-18/ed-1/seq-7/

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' MaBeaaiaMaBaWaaaaaaaaaaMalaMaaaaaaaaaaaBaaaMaa
II tub covNTnra axocu ov uokxt,
II The attention of the Stool: Kxclmnuo, dnrinn
1 1 tlio early part ot lout week, balntr ogTOWod by
"1 tlie b!oco o( Suitlaco, tho Interpretation of ths
rrf now Revenuo act, nnd tho progress or tho dor-
' f trnmont war loan, tho totiileitoy of tho market
Vlf wits downward. On Thursday. ho-woTcr. enrao
' simultaneously, tho now of Uio surrender of
Santiago, and of tho triumphant nurocM of tho
1-uvn. whllo tho ombnrrMilne Qtsoetlonn arising
tM'lertho Itovonuoact hnl mostly been aatls
fart .rily soltlod. Tho contoquonre vraa, a rc
riral ot activity, nnd a atlsht ndtanco In price1),
which, however, nm not sttstnlncil. and Jul
now ncaln resumed Its sway. Why thli should
bo, Invlowof the certainty of a speedy cessn
tlon ot tha war with Spain. Is ono of those pu
lie which nobody can explain, it must bo
oharccd to tho porvoralty. or. as Dr. Johnson
called It, tho "nnfrnctnoalty," of tho human
mind, which so often disappoint expectations,
A lamo part of tho now loan will. It Is ex
pected, find Ita wny Into tho poM9lon of
national banks, to bo need br them as tho basis
of an additional Issne of clroulatlnff notes.
Certainly, the banks can afford to pay more than
any other purchasors for tho bonds, because
vin at n premium of 3 points, they nro moro
dcslrablo for their purpose than ths other Gov
ernment Issues, the ohcapest of which soil at
110. Tho National Dank aotallovraelrculatlon to
bo taken out only to tho amount ot 00 per cent,
of the parof tho bonds deposited as soenrity for
It, without reward to their market value, bo that
a bond nt 103 Is just as uioful as a basis ot cir
culation as one at 110, and Involves the tying
up ot 7 per cent, less capital. Already. It Is
said, some national banks have put In requisi
tions tor supplies ot now notes, and. If
ithcy have not sot the bonds for them by
subscription, they will horo to buy them
from applicants to whom they ore allotted
at par. Undoubtedly, many of the subscribers
for tha COO bonds, to whom tho Socrotaxyof
tho Treasury has given a preference In the
allotment, are either dummies for the banks
or will sell their bonds to the banks as soon as
they eet them. The fiction that tho $00,000,000
of such bonds reported as having been sub
scribed for will bo Into the hands of small cap
italists for permanent Investment, la not ac
copted by any sensible person. In fact. It will
probably turn out that the whole $200,000,000
has really been taken for the benefit of ths
same purchasers who would have taken It It it
had been offered for jrabllo competition In tha
usual way, and that all the benefit ot the new
method has been reaped by little speculators,
who will seise tha first opportunity to capture
2 or 3 points premium on their allotment,
lender any conditions, tho Inflation of the
volume of the country's currency now Impend
fnc would lead to a correspondlnff Inflation of
the prices of property and commodities, and
followlne. as It will, a great Inflation pro
duced by other causes. Its effect will be the
more certain. In October. 1803. the total ot
our circulating medium, embracing gold coin.
standard silver dollars and paper money of all
kinds, was estimated by the Treasury Depart
ment at $1.70L39.018. On tha first day ot
thls'month tho same total was reported by tho
department at $1,8(3,433,740, showing an In
crease In leas than Ave years of $143,405,831.
Ot this Increase about $33,000,000 has been In
national bank notes, the remainder having
been gold coin. Imported, mostly during the
last rear. In payment for our export of petro
leum nnd agricultural products. If now we
add to the general mass say $100,000,000 In
national bank notes, we shall swell the Increase
tQ.2.000.000. -This,
let It be remembered. Is the tncrcaso
only In money In ths shape of coin and notes.
The Item of bank deposits. which are credits on
the books ot the banks against which checks
are continually drawn and which, for the great
majority of transactions, servo as actual monoy,
had Increased, according Nvlie Comptroller of
the Currency's latest report, from $il7'J."12,
D47 In October. 1803. to $2,010,512,217 in Oo
tober.1807.or. $3.17,290.070. Since that dato
they have Increased still further, the deposits
of the New York banks nlono. whloh on Oct. 1.
180.1. were $400,105,000. having risen on ct,
1. JK77. to 010.353,200. and. last Saturday, to
I7&3.0C0.0OO. It ttiu appears, that, while the
volume of what Is popularly called the coun
try's money has Increased since October, 1803.
by only $142,405,831. that ot bank credits,
whloh are equally efficient in raising prices,
baa Increased nearly $700,000,000.
A part of this Increase of bank deposits la.
Indeed, actual coin and least tender notes, but.
after allowing $100,000,000 for this Item, there
will still remain an Increase ot bank credits,
purs and simple, of (600.000.000. This foot la
!of the utmost slgnlflconce In view of the clamor
Hi raised by the sllverites, and by some of tho so-
called ourrener reformers, that there Is not
I enough money In the country to meettbere-
I qulrements of trade, and that, therefore, the
apply of It ought to be augmented by tho free
coinage of silver and by the removal ot the
present obstacles to an unlimited Issue of bank
circulation. For local use. bank checks serve
every purpose that could be served by bank
notes. A man whose credit In his own neigh
borhood Is not good enough to have his cheek
accepted In place of money will not be helped
by any Issue of bank notes, and a bank, checks
upon which are distrusted, ought not to be al
lowed to Issue note's.
It Is true, also, that bank currency, not being
lecal tender, does not, like coin and Govern
ment notes, enlargo tho basis of bank loans
and discounts, and thus odd to the amount
with which depositors may be crodltod. Here,
again, the advocates ot an unlimited Issue of
Sfch currency fall to see how much less efflca.-
eicms it is than coin and Government notes, to
relieve the wants ot borrowers. Against bank
currency a certain amount of lawful monoy
must be held In reserve, whereas against law
ful money four times Its amount may be cred
ited to borrowers arid checked upon. lawful
money Is, therefore, four times as effective an
Instrument of Inflation as bank circulation la,
and the $100,000,000, or thereabouts, which
the country has gained In gold, recently, has
done as radon, to Increase tho supply ot loanable
money as the Issua of 8400,000,000 In bank
notes would.
Nevertheless, If present expectations are ful
filled, nnd If, as tho consequonce of the Issue of
($200,000,000 of now Govornmont bonds, 8100.
I 000,000 or so Is going to be added to the
country's bank circulation, it wilt to that ox.
tent stimulate speculation. Dank officers will
not willingly suffer this $100,000,000 of cur
rency to Ho Idlo In their vaults. They will
trivo to find borrowers for It, If not at n high
rate of Interest then at a low one, and at some
rato or other thoy will succeed. IIow fooillty of
borrowing promotes speculation wo saw In the
operations of Mr. Joseph Loiter. Dut for the
liberal loans mado to him by the Chicago
'? bunks ho could not have bought more than
10.000.000 bushels ol wheat at tho moat,
whereas. In fact, tho banks enabled him to buy
ml pay for 40.000,000 bushels. Ills Into has
teraiorarily deterred others from attempting
to Imltnto him, but that iloterrent Influence
will toon disappear, and then wo shnllsco. In
other fields, a renewal of the game he played
. ounnueenssfully,
IS, What those other Held nre solng to bo Is not
S rot clear. When, In IBBO, a flood of capital was
at liberty by the enormous purchosos, out
ol surplus income, of unmatured Government
bonds, It sought employment In the establish
mei.t ol banks and trust companleoj In tho
c uittructton of new railroads; the opening of
now coal and Iron mines i the purchase and en
largement of sugar refineries, petroleum re
fineries, breweries, cordage factories, lead fao
t"r'.s m d distilleries; In municipal Improvo
W'liU. and In tho erection of new buildings.
None of thea enterprises now offer the same
attr-.ohonsthnt they did then. Ot banks and
trjet , .uiipanles thor are too many already,
tn country is pretty nearly covered wlthrall
fdi. Industrial undertakings and mining
hare in so many cases proved disastrous that
capitalist nro afraid of them, and thesuooess
CM ?' tl' mam moth office buildings lately erected
51 i' this and Qthor cities is not such as
1M to eneoumge tho erection of moro. The
ij, ris'ne tide of Idle capital finds thus an
Vj Insiiniclent outlet, nnd must continue to rise
ynin It ovoi flows or breaks down tho barrlor
M uut checU it In the meantime, evew accts-
s ae-iimi ni UMiiitflwrniurTHiTSMiigjajrM
1 ' " pini ' ii,
slon to It lnorenes the pressure Hererta -upon
the rato of Interest, and, as we see, reduces
that rate in the case ot new Investments, and
Increases the prices paid for older ones bearing
the htghor rates whloh prevailed when thoy
were mado. Now that the war with Spain Is
substantially ended, and the limit of the expen
diture Involved In It Is within sight, rollef from
that agency Is no longer to be expected. Tho
destruction which the wnr has occasioned will
speedily bo repaired, and then a surplus of pro
duction over oonsumptton will again hare to
bo encountered. r
Possibly, tho new acquisitions ot territory.
Which tho nation Is now makings may roqulro
and draw to themselves enough capital for
their Improvement and development to causo
a better demand for the remainder. The ca
pacity ot Cuba for tho production ot sugar, cof
feo and tobacco Is at presont fat greater than
thouso mado ot It, and Its mineral riches, as
yet untouched, are snpposod to be lmmonse.
Hawaii, too, has not reaohed the limit ot Its
development, and the Philippine Islands ore In
the samo condition. What good govornmont
and the soourlty ot property have done for
Egypt and India under British rule may, it Is
but fair to presume, by the extension over
thorn ot our laws and our civilizing agencies, bo
done tor our now domains, and thoy, In turn,
will render to us the service which California
rendered to us In 1818.
Matttjgw lUnamtx.
FtXANCTAX, Arm COinOSRCIAL.
ZTew Tork Stock Exchnnge Sales nnd Bang
of Prices on All Securities Dealt In Dur
ing the 'Week Kmllne July 10, 1808,
UNITED STATES AND STATE BONDS (IN $1,000).
Opt- UigK- Lov- Clot
tola. Tarn. ing. tiL at. ing.
3IOO0 Tena8et3i.... OIK 01W 0114 01M
BAIUMMD AND OTOEn BONDS (IX Sl.OOOs).
Oprn- Via- Lme- Clot-
Sato. Ifant. ing. til. at. ing.
402QAtch4j4..... COH 71M 00M 70U
18B4AtchgnWs 04M 04.H 03M D4.W
oAltADiOTl.t... OS OB P8 08
lOAdAraiEipo... DOM 00M 00 00
6Am8pM0. B4 64 84 64
103 Am Tob scrip.... 05 05 04 04
20 Ann Arbor ;... 84M 86 B4.H 66
7Atchfc01st.tr. 70 70 70 70
18 Am 00118s 100M 107 1004 107
1 0 Austin AN Wist 82W 82M SIM 81K
48 D & 0 Ss, 1S8S, B
etfs 108 10854 108 108)4
81BalfiO,Pbr....llOX HOW 110 11014
31D&dCa.ie8a...ll2K 112M11B 112K
ISO D 40 Ks. 1088, J
PUctfs 112M 112M 112K 112
8naafcrb.gnlCs.106M 105K106M 106M
8Bar.0nfcNUt.100M 10OM 106M 100M
1 Bait Bslt 1st gt.. DOM DOH POM 00M
03BUmRTS....1.04 104 102M 103M
23 B'klynEl lst.tr. 02M 02Jt OS 02
6BklrnUnauBsll4M 114K 114M 114M
6ChlafclCasllttl02M 10BM 102M 10ZM
lCbfcWlK0ld....H8M 118K118W 118N
E5Chfc0cnes....H4M 116 114M114M
4e3ChfcOgnl4i. 83H 84M 83M 84M
OCbifcOOs, 1B11110M HON 110M HON
10,BfcN6s. 110 110 110 110
8E0.B&QcnT6..113M 112W 112M 11SM
6C.Bfc ). ex. 00H 00M OOM OOM
34C,B4Q7li. 116 116M116 116
ieCBfcQ,stCi...l04M 104M 104H 10414
7 0.0, Ofc BtX.s,
StLdir OOM 06M OOM 06M
SOIfcDlst 8S...110 110 110 110
6ConQuofaCs..l04 104 104 104
41CaaSolst. 108M110 108M 108M
4, Cm So 3d 100M 100M 100M 100M
88 Chic Terml .... 86M 80M 86K 8CM
6ColfcBthAvlit.l20M 120S4 120M 120M
1 Cen Pa ex Ci, 8
etis 102 102 102 102
IC&EIl.t 114M 11-4M 114M 114M
eoElgnl6...100M 108 106M 108
1 Col Cosies 100M 100M 100M 100M
2COI.fcOColtt.106M 106M 105M 106M
82Cntof GcaS. 80 80 88M 88M
2di.InafcL(Is...l03 103 103 103
oDnsiiont...ioa roa ios ioa
110 Den & no en.... 03M 04 03M 04
1 DenfcBOICs... 02 .02 02 03
GDctOasCa. 05 05 06 05
Q4DetClt7 0asSs.. 02M 03M 02M OEM
16ElliLfcBSltt.l02M103 102 103
86 Kri. prtor bd.... 01M 02 01M 01M
74 Eria gnl Uen S-U 74 74 73M 73M
3ETennfi 110 110 110 110
17ETennlit. 105M 10SK 106M 106M
16ETcnnlltn-C. 07M 08 07M 08
laKdEIcttfis 116M 110M 116M 110M
0EiultO4FofO.10eM 102M 108 102M
7 FfcPM lit C.. 114 116 114 116
7F4PK6 04 04 03 03
0F&PKCs.Fnd 01 01 01 01
163FWortljlst 76 76M 76 76
87 0,n'g48AlIP
e 04M 06M 04M OOM
36 Green Bay dsbO. 6M oM 6M 6M
18HockValS,$85p 70 70M 70 70
lBfcTOgnls... B2M 62M 82M 82M
4 H.E AW Tex 1st 01 01M OOM 01
12 Iron lit 2d. 100M 100M 106M 108M
343 Iron lit c OOM UO OCM 08
13mcentSM,Zd 04M 04M 02H 02M
1 mCent4s,lS8.101M 101M 101M 101M
1 IntfcOtSSd.... 87 87 87 87
10IntfcatN8d.... 68 68 68 68
12IowCentlst....l01 103 101 102
IKeokADTJ 6..107 107 107 107
fiOXsnfcTx4.... 80M OOM BOM OOM
870 KnT :.... 04 07 64 06M
4 Kings Co El 1st.. 67 67 OOM 66M
3 Knox fc Ohio lst.1 10 110 110 110
11 KsnOAPUt.... 74 74 72)4 72M
170KC.P40 lit... 72M 74 724 73
10LoUdaulit.,105 106 104?i 106
17LskeBhSM 104M 104M 104M 104M
06LfcNg4s 88M 86M 87M 87M
a 8LfcN.8Agt6i.100M 100M 100K 100M
3 Lou AN B 106 106 104 104
10 Long IsUs.slC.il 8 118 118 118
66MetStB'KrC..114 114H114 114M
3 Uo, K 4 E 1st.... OOM OOM OOM OOM
68MxIntcn 76M 70M 75M 70M
8M4BtLcnBs...l07 107 107 107
46 Mo, K A Tories 83 63M 83 83M
l2Mxnn-wy4s.... 06M OOM 06M 06M
6 Met El Ht 110M 110M 110M 110M
3 MetlU 2d 103M 103M 103M 103M
6Uobfc01it.N..120 120 ICO 120
lOMobfcOcnl 78 78 77J4 78
832 Mo I'm en 103M 103M 103 103M
161Wol'a tci 76 60 78 80
114JtoPaocolUtCi 72M 70M 72! 70M
6 Mo I'M 8d 112 112 112 112
4NorPaelite....ll2M UbM 11CM 112M
170 Nor Pw prior . 08 Vhii i7M 06M
576-NorpMgnlSs... 63M 04 03 03-7
1 Norf AWgul..,.121M 121M 121M 121M
153Nor(fcWcu4s.. blM 62M 81M 81M
41 NTABuiiml.... 03 03 102 02
8NJCeuffnlbs.r.llO 110 110 110.
3NJCttitgnlCa..U3 112M112 V12M
83NTCcntUt e...llJ 110 116M116M
DONYC.I.ScolOWi 00 06 0474 06
i68NV0,U0cslaMs 04 04 03M 03M
6NYCeatdibCs.rllOH 110M 110M 110M
1 NuhAClittcu..l02M 102M 102M 102M
ONV.CA StI.4i.105M 106M 106 106
06NorIlItofCal6sl02H 102M 102M 102M
10NtHturcn,inlstl08 108 108 lOrl
lONWifti 106 108 108 108
IN WsfH. r..,..107M 107M 107M 107M
lONWgulllW 102 102 102 102
NWsi,o 118 118 110M116M
6NWsft.r 116 116 116 116
01 XV.Ofc Wr4i.. 00 100 00 OOM
4NY,OAWcue100M 10UM 1UUM 10UM
11 ObloAMlu Ud.lSlM 1C2M 121M ISkH
10OAUlilitipdl04M 106M 104M 106M
160.11AN41 OOM OOM OOM OOM
BUnBLai 127 127 127 127
3DOreBI.cu H....104M 104M 104 104M
03 0roBl.lao A.... 74M 76M 74 76M
100 OmaLtuj U..., 63 63M 63 63
1 Om A Bt h lit... 78M 78M 76M 7bM
G31'MCMitlHt.....l03M 104 103M 103M
6P.DAE Ut.tr.100 100 00 UO
17 I'oot East lit... 78 76M 78 78M
6 Pto A EmI too... 18M 18M ldM lbM
lPnu4Mi 118 113 118 113
fi02FUtsAWalit... 68M 04 BUM 03
ai'.OAOUtcuBillO 115 116 116
10PltuAConv4..10U 100 100 100
iBAPHUcn. 128 128 18U 122
4,Uo. W A O.i D. 1.2 a 183 123 123
103ocklilgnl 4S..103M 1C3M 1U3M 113K
371 Head gnls... 63 83M 61M 81M
ioraoowm 80 OOM 80 BOM
OSBofuof Calcu. 08M100M OUM 100M
20CoPfNUlit..lU8 10UM 108 106M
46 Bo P of Arli 1,. 100 100M 100 100)4
8btPAUcon4M107!4 lOVli 107M 107M
67 St P A Us i 41.. 100 100 OOM 100
4MLfcStftU...100 100 IU0 100
-: -"iiiiifiifi In
Opt- ITtgX- tw- Clf
Alia. fan. it. at. at in.
80StXft SF.BW
dlv ..... 00 OS 1)6 06 -8BtTJsS,r,xaelbll3M
113M 113M 113(4
lOBtlfcBFgnleillO 110 117M117M
30BtX.fcBrgolesl04 104M104 104)4
67BtIifcBV4s... 78 78M 78 76)4
10 BtPgnUi, A..104M 104M 104M 104M
0 Bt P lit, 0 fc F,
Wdlv 116)4 116)4 110)4 liOM
1 6tPlst,BUa...ll7M 117N 117K 117)4
6BlP4NorPi.rlB7 187 1S7 187
04 Bt LB Wilt 70M 78 70M 78
070BILBW3d 80 88 EOM 31M
034BnAAAPlit4s 05 07 05 OOM
lOBOfcOalit 04 04 04 04
221 BoB'inyCi. 04 04M 09M 04
17BtJo4QI3-3-4s 76)4 70 78 78
EEBUnnATBi.... 70 72 70 78
677 Stan n&Tlno... IS 17 IS 10
atirn a of atr,
cnc. 100 100 100 100
a7TexPaelstes.l00 lOd 106 106M
8709 Tex Pae 3d In.. 40M 44M 40)1 43M
6TolfcOCentlttl04 104 104 104
SOTexfcNOcnea. OOM 07 OOM 07
10T,0,Ifc&o,Bd 86 86 86 86
STol. BtL fc SO
st.tr. 87 I 87 87 87
01SUnPao4s OOM 07 OOM 0014
287UnPotMa,tr. 40M 67M 40M OOM
7 Ulit 4 Del lit 51.100 100 100 100
133Unmiit.tr..... OEM 02M 01 01M
3431 UP.Dfc01it.tr 06M 70M 06M OOM
1 UB Leather Ot... 114M 114M 114M 114M
OVa Midland gnl.. 107M 107M 107)4 107M
26Wabuhlit 110 110M1OOM11OM
10TTabash2d 87 87 80M 80M
0 WeitUnCol Ci.,110 110 110 110
40 West Bb 4i 108M 108M 108M 106M
1 We.t8h4s,r.....l07M 107)4 107M 107M
4WNY4Pagnl.. 64M &4M 64M 64)4
EWNY4 ralit.,108 108M 108 108M
66WlsCnttoe 4 0 4 0
8B2WlsCentlst.tr. 42M 40M 42M 45)4
Total sales of railway bondi (parvilue), (23,035,000,
&AII.WAX AMD OTUKD SHAKCS.
Open- Uig- Low- Clot
Sola. Sam. ing. at, at. Ing.
lOaAdamiEx 100 101M OOM 101
138185 AmB Bef. 133M 134M 13114 132M
817AmBIlefp....ll4 114M114 114
14n7SAmBMfg. 13M 13J4 11M 18M
4045AmBUfg p... 30 30 83M 84
80 Am Cable. 04M 04M 04M 04T
e448AmTob 122J4 122M117M 118M
lOlOAmTobp. 126 187 126 126
24CAmExprcss...l30 133 130 182
lOTBAmCotOtl 21M 21M 20M EOM
240 Am Cot Oil p.. 75 70 74M 76
12007 Atcb,Tfc8F.. 13M 14M 13M 18M
176009 Atcb.Tfcarp 34M 36M 34 34M
410 Am Malt 86 26M 26 86
290AmMaltp 77M 77M 77)4 77M
141B5AmSteel4W.. 42M 43M 41 41M
1314AmEteelfcWp 02 02 OOM OOM
1080BrnmwlckOo. 10M 11M 10 11M
7314 Bait fcOblo.... 16 16M 13 13M
800Bfc0SWp.. OM OM 0 OM
84BO Bay Stats Oas. 3M 3M 3 3M
66487 Brook BT OOM 60 63M 64)4
22S Brook Un Qaa.l22M 123M 123M 123M
8818 Can So 66 66M 63 63
100 Can fao.. ...... 83M 83M 63H 68K
leaiOonlea 87 87M 80M 37M
205 Con leapt 00 00 00 00
18160 CM Ot West... 14M 14M 13M 14)4
105CM AQtWp A 33 33 33 83
MSCwtPaa 14 16 14 14M
8760 Che. fc Ohio... 23M B3M 23M 22M
400Cblfc Km.... 67M 67M 66M 66M
783aO,C.C4BtL.. 43M 43M 40M 40M
220 0,0, Ofc 8tLp 87 87 87 87
16820 Ch!oANW....120M130H120M 180M
80004 NWp 171M 172M 171M 171M
62613 0,B AQ 107M 107M 105 106M
07836 0.114 81 P....1 OOM 100M 08M 08M
780O.U4BtPp..l40M 162 140M 162
81481C.HI A P 07M 07M O&M OOM
820 Col Fuel 22M Q2M 22 82
424 Chic Ter 04 6M 8M 6M
SOOCbloT.rp 20 20 20 20
100 Col. n VAT... 6M 6M 6M CM
803 Col Mid p 16 16M 16 16M
125ConCabla 180 160 180 180
1720C.LAW. 14M 14M 14M 14M
8487 Consol Oas CO.200M &00M 106 106
120O,IALp 30M 30M 30M 30M
4491 Del 4 Hodaon.107 107 103 lOiM
8SD.L4W 150M160M16S 166
600 Detroit Oas.... 01 Ol 00 00
1683 Den 4 nop.. OOM 60M 48M 40
C00DU4FtD.. 10 17 10 10M
SCOErUIUt 13H 13M 13M 13M
4810 Eria BR tat p. 86M 80 34M 84M
100Erlnn2dpf. 17M 17M 17M 17M
10 Edison El 134M134M 134M 134M
10 Ed El of B.... 120 120 120 120
100E4TU 20 26 20 20
lOOOreen Ba7 fc
Win deb 71M 71 M 71)4 71M
18360tNorp 120M120M127 127
08S& Gen Electric,.. 40M 40M 3BM 38M
ion. aciaffln... 88 86 68 88
2410 II Con Sugar... 23M 23M 20 21M
10307 IlUnoliCen....l 10 111M 108M 100
8220 Illinois Steel.. 67M 60M 67M 68M
100 Iowa Central.. OM OM OM OM
820Iowa Centp... 33 33 32M 32M
2822K0,P4O 16M 17M 15M 17
2700 K 4 Tern U... .10 .20 .10 .20
lOOKeokAWn.... SO 30 30 30
lOOKeok ADM... 4M 4M 4M 4M
220LE4 Western 14M 14M 14M 14M
llB2LEfcWeitp.. 71 71 OOM OOM
100 Lake8hore.s 30180 180 160 180
1100 Long blind... 60 60 40M 60
0040 Laclede Oas... 61 61 40M OOM
800 Laclode Oas pf 02M 02M 01 01
27466 Louis 4 Nash.. 64M 64H 62M 62M
07038 Man Con 106M 108 104T4 106M
2110 Minn Iron 73M 74M 73 73
3O876Met8tBwy....l60M 160M 153 163
600 Mich Central.. 107 107 106 106
OOMlnfcSt L.... 26M 28M 26M 28M
184 MIn ft St Lip 68 86 88 88
88000 Missouri rao... 3&T4 30M 34M 84M
80Ms,KanAT... 11M 11M 11U 11M
8840 Mo, Kan 4 T p. 34M 30 34 84
200 Mobile A Ohio. 20M 20M 20M 80M
100M6rriiAEssexl72 172 172 172
lOONStarchZp... 10 10 10 10
8110 Nat LOU 10M 10M 12M 13
14240 N I Central.... OOM 01 87M 88M
lB162SYCentral....llOM110M 117M117M
1747NatIad f 34M 36M 33M ' 33M
1008 Nat Lead P....107M 108 100M 107M
41)80 North Ainer... 7 7)4 OM OM
1202 N Y Air Brake. 44 40M 44 45M
128N YANH 180M 180M 180M 180M
SOONYOABtL... 15 16 16 15
lOONYOAStLlp 76 76 76 76
BOONY048tL2p 37a 38 87M 37M
1O0 Norfolk A Weai 14 14 14 14
I860 Norfolk fc W p. 68 62M OOM 61
1MU8 Northern Pas.. 20)4 30 28M 28M
B04 16 Northern Fao p 70M 71 OOM OOM
1U62 OnUrio A West 14)4 15 14M 14M
lDDOr IlANp... 71 71 71 71
220 Oregon B !..... 28 88M 28 88M
S735 Paclflo Mall.... EOM 20M 28M 28M
26 Peo, Dec fc Ev. 1M 1M 1)4 1M
lOlOPacincCoaet.. 36 36M 84M 86
76 PaoCoa.il p.. 80M 86M 80M 88
lOePaoCoaitap.. 67 COM 67 60M
100P,FtWAO...,178M 172M 172M 173M
8888 Pull Pal Car Co8 10 211 200 800M
1300 P, 0,0 A BtL.. 43 Hi 43M 43M 43M
2106Pennann 117M 118 110M 110J4
80180 Feople's ObOlOOM 100M 07M 08
24001'homlx M 12 .14 .12 14
10471 Beading 18M IBM 10 1UM
43267 KeaUliut Htp. 42M 43M 38M 30
2721 Beading 3d pf. 22M 22M 10M 10M
lOBloO Wpfd... 07M 07M 7M 07M
1368tL8W 6M 6M 6 6
lOOOBlLBWpfd... 11J4 11M 11M UK
200 Bt P4 Duly,., 80 60 80 60
18303 8t PA Omaha, 83 HCH 81 B1W
OdtPAOp 166 166 166 156
368tP.Mfc U...16CM 160 164M164M
3:30BonthemIae 20 80)4 10W 20
130 Southern Itwy, 6M 8M tM 8M
8318 8oUnypM.... 81 BlM 30 30M
CVSStJoAOllp. 58 00 66 00
BOOStuAOlap. 21M 81M 20M 80M
308 bt Louis fc B T. 7M 7M 7M 7M
X082BtLASFlatp 08 08 01 01M
8376BtLABF2dp 20 20M 2UM 26M
83l"ata.ndird 114T 0 6'i 0 0
aaiOTinnOfcl BOM 86M C4M 04M
4C0 Third AvBn., 170 170 174 174
18407 TexaiPaciao.,. 12M 18)4 ISM 18)4
7o6GUrJoarclf.q.. 24.H 84M 2SM 83M
68408' Union Pwpfd, 61 01M fixM 00
2744SUnFao,Ufca, OM 8 OM OM
14 UB Express... 42 42 48 48
48602 UflnubUr..,. 20M SiOM 80M 86M
swoUSBublyirp., 01 02M bf.M 88M
18S5UB Leather... 7M 7M 7M 7M
16460 Ub Leather p. OOM 07M OOM OOM
740 Wabash. 7M 7W 7H ,M
1433WaUuhpfd. 10M 10U IhM lfiM
OWslla-FanrjExlBO 180 180 180
m WMI VA fl. OQM 9314 DIM OHM
1
Opt- Dig, tnh Clot-
Cola. fTowU. ne. siA nU tug.
43I8WfcLD.tr... IN 114 1 1
UCtWfcLEptd,tr 0 OH 0 0
llOWlaOentnl.... 8)4 8M EM 2M
100 WU Cent p.... 0 0 0 0
e700W0blBtnwr. 03M 08)4 08 08
IU dividend. . .
Total salse, 1.804,083.
BANX STOCKS.
Opes- UtaK- Le- Clit-
Silt. Kami. !. it. tu. ino,
172 Park 806 803 806 802
saves ciimncATEB.
SOOOBDetfs. 60 60 CO 60
BuNDAT. July 17.
The Treasury balance at tho closo of business
on Baturday wan 9245.173.051. ot which J170,
243.343 was gold.
The Imports of goneral merchandise. Includ
ing dry goods, at tho irt of Now Tork last
wcok. were 0.022,275. against J8.440.874 tho
previous week and 0,355,045 for tho corre
sponding weok of last year. The Imports of
speclo for tho weok were $31,203. of which
110.483 was gold, maklnc total speclo Imported
slnoe Jan. 1, S73JU1.30:i. Exports of spoclo
were: Ootd, 127,500. nnd Silver, $830,045. a
total of $804,145. against 4002.002 tho Dro
vlous week. Tho exports of specie slnco Jan.
1 liavnbeon: Gold. $4.117.1,200. and sllrtr.$ZV
000.C03,atotal'ot UlMHi.tiU.
Tho weekly statement of averages of tho
Clearing llouso banks shows:
July 8. Jxty 18, Chnncft.
Loans.. .8833,876,800 tsf,H6a,nOO Ins. te,17H,200
pepoatU 768.048,000 767,780,300 Deo, 381,700
ClrTU'n 14.820,400 14,688,800 Deo. 81,800
LVlfrS 62,8(13,000 03.040,000 Deo, B17.H00
8pecle. 180,488,700 178,780.400 Deo. 8.782,800
nei,re.t242,f(02,8OO t2S8,8t2,40O Deo. M.048,800
na'vsr'd 188,617,000 188,440.670 Dee. 70.425
8un1usfR3.S40,S00 848,388,826 Dee. 83.879,475
The surplus a year ago wos $40,030,475. and
two years ago $21,773,023.
The Homcstako Mining Company has do
clam) Its regular monthly dividend of 25 cents
pershnro nndnn extm dividend of tho samo
amount, both payable July 25 at the oflleo ot
thetronsror agents, makinp; a total of $atJ8.
750 paid in dividends to date.
Goldman, 8achs A. .Co. offor to Investors
$500,000 Chicago. Milwaukee nnd Bt lul
Hallway general mortgage 4 V cent, gold
bonds.
efiunncial.
HICHiMvrHARWETT & CO.
AUCTION SALE
STOCKS AND BONDS
Tuesday, Jul; 19, at 12:30 P. M
At the New York Beal-Eatate Balesroom. No. Ill
Broadway.
For account of w bom it may cqnceni.
6 shares Dawrera Title Isauranca Co.. $100 each,
S101000 Mliaourl, Kaniaa 4 Texas Ballway Co., 2d
morbtaKe 4 per cent. Bondi. due 1VVO.
10 shares Yale fc Towns Manufacturing Co., tlOO
each.
Lists at Auctioneers'. 71 and 78 Liberty at.
Itmfeit m$
00 CEDAR 8TKEET. NEW YOItK.
CAPITAL 02,000.000.
BUai'LL'3 1.030.000.
Trauseli a General Trust Dastnese, Acts
as Trustee. Registrar, smd Transfer Agenti
Executor, Guardian. Administrator, Ac,
Tabes entire charso of Ileal and Peraanal
Citates, Acta ns Fiscal Agent for Htates,
Slnolclpallllca, and Corporations. Ignl
Depositary for Conn nnd Trust Funds,
Interest allowed on Deposits. Cbrrkspnse
threngh the New York t'lcnrlnr-IIoiisr.
Money lonned on bond nniImortni:e. I una
first Mortgage Trnsl Cold Itands.
OFFICERS.
Geo.rse JV. onng , President
I.utlier Koantzo. Vlre-l'rraW ent
Jitmrs Tlmpson,. Oil Vlrr-I'rrslilpst
WIHIamP. Wlldu orrrrlnry
rtorU Ullllnp" .- Ami. Trrn.urrr
BUbnrd .11, Hurd Am, Secretary
DinFCTons.
Staioel D. Banvoek.
Frederick O. Barton. llmiiT F.. Kliel.
0. LeJrnl nuir, I.nther Kniintie.
Dnmenf Clirfe. rhrlton T. Iwls.
Cli.rlrtD Plekey. Ptihtnl A MrOirdy,
Wllllum P. Dllon, Ttiei!ore Slnrrnnl.
Terl4 Dow. Jr.. Iii.lt Oltnhant.
Itnhert A. Orannlia. rherles II Trail.
O O. nafen. Jr.. Jarnpn Tlmpn,
Cbiirlea It llendersoa, Fln II Tbnman.
Jimn J. Hill. OeorieW.yuntj
$500,000
Cliicago, Milwaukee S St. Paul
Railway Company
GENERAL MORTGAGE
4 GOLD BONDS
FOB SALE DY
Goldman, Sachs & Co.,
31 NA88AU STREET.
Purchasers of Real Estate
who desire a LOAN to complete their pur.
chase can SATE MONEY by applying to
TxTlE GUARANTEE
and TRUST COMPANY.
140 Broadway, 175 Remncn St.,
Now York. Brooklyn.
CAPITAL, . . . $2,500,000.
SURPLUS. . . . $2,000,000.
TRUSTCO
23i FIFTH AVE., COB. 9TriJ ST.
UIIAM'U. 00 lllttJADWAV.
PA FIT AL, 8 iOOO.OOOXO
I.EOAI. DEPOSITOIIV
For filalo. City, aod Court Moneys,
lolerrat Alloncd on Time Deposits.
Checki passtd tbrooth N. X. Cltarlor-boose.
Arts as Hsecutor, auardlan, or Admlnlstntor of
Rititei, snd as Rerelrer, Ibrtiatrir, Transfer sod
Flasnclal Agvot for Stntes, Itsllroads sod Corpo
rallous. Separits 1i partmint with
fipeclal Farlllllrs far Ladles.
ItODERT MACI.AT. Freildeot.
C1URLF.3 T. ItARNEV, VlePreildent.
JOSEPH T, nftOWN. at Vlce-l'rf.Went.
rltKH'i U KJ.UIIIDaK.Src.snilTreiu.
J. il KSlVC row.vsKNi). Au't breKiry.
Al.ritE!) IL JUCLAY.Au'tTreuiiurer
Government and
Municipal Bonds
BOUOHT AND SOLD.
Also Flit ST MtlllTflACK bond" or r.tab-
llshed rttenin and Strrtit ItnUirnra,
APFUAISUUUNTa ilAVR OR QUOTATIONS
rrjit.MaiiKu fou thk ruitciiAtnt. sai.u, uii
BXatANOK OF ADOVB BECUK1TIE3.
LlBl-b O.N Al'l'UCATION.
N. W. HARRIS & CO.,
81 WAgSAU BT. ifiwuit of L'ommeroB llldl.),
OKICAT MMIT1IKHN UAIMVAV CO
I7-2II Pine Strict. New Yori, Mr Jlst, isns.
To tlie bolders of the COLf.ATEUALTltllUT FIJUR
rrncBMr. do.nds of tie okkat oiiiueT(H uAiij-
WA7 COMPAJlr.
In uottformltr with the eondltlona of and aa re
quired by tbefteedof Truit, eieeutud bythle Cora,
pany Beptenbrr Pint A. I. leOJ, nulloo la hereby
siren to Ibe bolder of Donili secured thereby thai
all such bonds will be redeemed at par and accrued
Interest at ibis ofllc. on lli JTlrst day of BepU mber,
1SS8, and that Intareat will cease to accrue thereon
from that date.
Uy order of the Hoard of Directors.
JAH. J. IIILI-. President,
Great yorthem Ballway Oornpany.
Haskins & Sells,
Certified Public Accountants,
wo. ao nnoAU bt., new vonic.
lit HALB-Uits ef'nanss bona-ode larntors.
., Bead for clmltf. CVtitTOft' DUUiaiVUlt, T
tuesast, i
mmm niww. mtmmmmmmmmtmmmm mmmmmm tmmmtmam
' " ' ' I
rtflttSlKlBt.
Baltimore h Olifo Railroad (ft.
EEOEQANIZATION. x
To the Holders of the rollowlnff Itonds and
Stocks t
Baltimore and Ohio IUUroid Company Itonds, loan
of 1853, Extended to 1H31 at Fonr Vtt Cent,
BalUmnre snd Oblo Itatlroad Cnpany loo-Tear Fits
Percent, Consolidated XtortB. IVinrls of 1.
Ssltlmore and Ohio Ilallroad Ceiniany Sfterlini Sit
rerOral. Loan of 1B73. tme March 1,1003,
Baltimore and Oblo tlallroad Compeny Sterling Six
Per Cent. Loan of 1HT4. DneUay 1, ID10.
Baltimore and Ohio ItAllmad dbmpany Rtt Per Cent
IunoflHTrt. Due April 1, mill (Account Parkers-
burgh Cranch Railroad Company).
Daltlmoro and Ohio lUllmai Company Fire Per
Cent. Ilondi, Loan of IBM (Account PitUbnnih
and Conncllsrllle llallroad Company!.
Caltlmora and Ohio Railroad Conipany Four and
One-half Por Cent. Terminal Morta. Condi of 181)4.
Baltimore and Ohio Railroad Company Eterltnx Four
snd One-haWPer Cent. Loan of 1833, Philadel
phia Branch"
Baltimore and Ohio TU R. Co. Bterltne Fixe Per Cent
loan of 1877. Dns Jnne 1. 1037 (Account BalU-
tnore and Ohio and Chicago R. 71, Co.).
Baltimore and Ohio IL R. Oo. Flnt Preferred Btoefc
Baltimore and Oblo It. R. Co. Second Preferred fltosk.
Baltimore and Ohio Railroad Oo. Common Block.
Pittsburgh and Connellarllle R.R, Co. First Mortc.
Bonds, BUtended to 1 Urt at Four Per Cent.
Plttibunih and ConnelliTUls XL R. Co. First Uortc
Beren Per Cent. Bonds, Dns Jilly 1, ll9.
Plttslursh and Coanellsvtlla IUIlroad Company BU
Per Cent. Consolidated Morttrane Bonds.
Akron and Chicago Junction Railroad Company First
UortgaKS Fle Per Cent. Bonds.
Akron A Chleairo Junction R. A. Co. Preferred Flock.
TVaahlngton City and Point Lookout Railroad Com
pany Six Per Cent. Bonds.
THE UNDERSIGNED, PURSUANT TO THE
PLAN AND AGREEMENT FOR THE RF.OROANI
ZATION OF THE BALTIMORE AND OUIO RAIL
ROAD COMPANV, DATED JUNE 23. 18WI. HERE
BY OIVE NOTICE THAT THE TIME FOR
FURTHER DEPOSITS OF THE ABOTE-NAUKD
B0ND3 AND BTOCKH UA8 BKKS FIXED
AND LIMITED TO AUGUST 1ST, 1808.
AFTEn WHICH DATE DEPOSITS OF SAID
BONDS AND STOCKS WILL DE ACCEPTED, V?
AT ALL. ONLY UPON BUCn TERMS AND CON
DITIONS AS TUB UNDER9IONU) MAT IM
POSE. DaUd New Tork, July ltb, I89S.
SPBYKR A CO.,
80 Broad Street, Hew Tork.
nmiN, LOEU CO.,
2T Pine Street, New Tork.
arEYEB UROTIIEItS,
7 Lothbury, London,
Rsonranlzatlon Uanacen,
beward. otrrmtiE & btkble.
EVABT8, CHOATK A BEAMAN,
rRESHFIELDS & WILLIAMS, K 7T,t'
London,
Counsel to Reorganization Manacsrs.
To ITolders of The Mnrrnntlle Truit Com
pany's Certificates or Receipts of Deposit,
for rirst Preferred Stork, Second Prp-'
ferrril Stock, nnd Comruon Stock of tfao
Bnltlmore and Ohio Ilallronil Company i
The sncceei of the Plan for the Reortranltatlon
of the Baltimore and Oblo Railroad Company,
dated June 22, 18!8, appearing assnred, pnrsuant
to laid Plan and Acreement, the underslifned herebj
call for panncnt of tb- flrst tntalment, belnu 2t
per cent, of the cash panncnt of (3 per share de
posit) d to lie made by dcpoiltors of the Fift
Tn-fr-rred Htvck and 20 per share tlepo.ltcd tu tn
made br depolton of the Sccoud Preferrnl Stock
and Comninn Stocl: as cnndttrratloii for abre of
I the New Ctimpany.
I Payment of ench Inatalment, lx-ln-r at the rate
'of FIITV CK.VTS PKIt KHAItK of Flrt
Preferred Stock dsKnltPd, ami I'lVi: DOI,. .
I.A1W l't:n SIIAUK of Bernn.l Preferrcl Stock
and Common Stock depnaltnl, mint be made to the
I liiulonivinv fur account of the Rjrndicatn, at tho
o:ll of the tVpnsltarr, The Merrantila Trr.'t Com
1 pany. No. no liroadaar. New York, or atlu loudun
Atency, Tlie lndan and Wcetmlimtar Bank, Limit
ed. 40 Iithburr, London. ON Oil I1EFOUK
AUOIIST I, 18118.
Payment, mint be receipted for br the Depositary
or Its Loudon Aircncy in the Certificates of Depoalt.
Failure to pay inch Instalment nn or before said dat.
will subject tho deposited atock to forfeiture to lbs
Syndicate aa pruvlded In the Reorganization Agree
ment. Dated New Tork, July 1 4th, 1 898.
SPKYEU & CO.,
KUIIN, LOETt A CO.,
8PKVKK IIROTHERS,
lUorvanUatlon Maniicera,
Tho Baltlmors&Qfifo Railroad Co.
Five Per Cent, Consolidated Morlgnjo
Bonds Issued ander Atortraie
Dated December 19, 1887
(Known as Bondi of 1988).
New York. July 14, 1898.
To the Holders of Certificates Issued under the
Bondholders' Asreement dated Norember 1, 1887
repreaentlns B. A O. consolidated Bonds of 18881
Referring to our circular of Juns 22, 1898, we bars
now to Inform you tbst holders ot ths abore-dtacrlbed
certificates representing more than 75 per cent, of
the bonds deposited with ua under the said Asree
ment of Norember 1, 1897, here (Wsn tbelr written
assent to the deposit of sucb bonds under the Plan
for tha Reorganization of the Baltimore and Ohio
Railroad Company, dated June 33, 1803.
By ths term! ot aaid Agreement we are thus cm
powered to deposit undsr said Plan all ef the "Bonds
of 1988" hsld by us.
Any non-aaent!ns certificate holder who fans to
notify ua of his dissent en or before July 28, 1808,
at ths office of J, P, Morgan A Co., New York, or of
J, S. Morgan A Co., London, will please taks notice
that we ahall presume concluairaly that he has aa
ented to adepnsltof his bonds under the aald Plan of
Reorganization; or he may inrrcnder his certificate
at either of said offices on or before that date, and in
rctum therefor we will deliver to bim the bond rep
reaented thereby.
All bonds not ao dissenting or withdrawn will b.
depoalU'd by us under said Plan.
J, P. MOItOAN A CO.
mtOW.N IIIIOTMEUS A CO.
UAIIINO, MAflOUN A CO.
London, June 33, 1808.
narlng Jointly made an U.ne of the abore-d-scribed
bomle In thlimarkut.imdi-rdatoof May ir.th,
18KM, elmnltaneoualr with Ihtt male In New York by
our npecttre reprcKeutatlcs, who have signed the
abort? ilrcular, we strongly recornuietid all bolders
of certificates for inch bondi to araem to the tenm
propoaedfvr ths bonds under the Plan nfltuorgau.
lzation. Blgnnl "Assent!" maybe lent to Meiers,
J. S. Morgan A Co., 31 Old Broad Street, London.
J. fi. MORGAN A CO.
I5HOWN, SHIPLEY A CO.
U.tHINO ItllOTIlKItS A CO., Limited.
The Bammore 8c Ofilo Railroad Go.
Six Per Cent. Gold Mcrtfag; Bonds Due
April I, 1919, and Knoivn as "Parle
erstiurs (Irnnch Bonds."
S.'l Wall Slrent,
New York, July H, imis.
To tho Holders of Certlflcaloa lstinl.iinder thn II md
holder!' Agreement dated April I, 1HUS, represent
tnu B. and O. " Parkernburg li..iin-h llomlt."
llefcrrlns to our circular of June 22, 1HU, we hare
now to Inform you that bolders of the aborede-icrlb-d
rirtifiuatcs rcprcicntlng more thin CO per
cent, of the bonJs deposited with iiiundor tlioauid
Agreement of April 1, WU8, line given thuir written
asaent to the deposit of inch bomla under the Plan
for ths Reorganization of tho Baltimore gtid Ohio
Railroad Company dated June 23, 18U8,
By tbe terms of said Agreement ve are thua em
powered to deposit under said Plan all of the " Par
ksrsburu Djvucu" bonds held by us.
Any nou-iasenttng certificate bolder who falls to
notify ui ot bli dissent on or before July 28, 1808,
will plesss take notice tbst we shall presume conclu
sively that be has assented to a depoilt of bis bonds
under the said Flan of Reorganization, or he may
surrender his certificate to ua on or before that data,
and. In return therefor, we will deliver to him the
bonds represent thereby.
All bonds not so dissenting or withdrawn wUl be
dtpoalUd by ua under said Plan,
j. p. uonojur oo.
.tHttKtal.
esaaasaiaSittsaaaayaaaaeaaasassaaasiMasaaaaaa,
Railroad Bonds.
$109,000 KBW YORK CENTRAL &
HUDSON RIVER RAILROAD
nmrsDrso ktok. gold axs. duk iwt.
SSO.OOO CIHCAQO & NORTHWESTERN
RAILWAY COMPANY
OnKSOLtDATEl) S1NKINO FUND
klllST MOItTOAOK 78, UUK 1H13.
$100,000 CIIICAOO, ROCK ISLAND &
PACIFIC RAILWAY CO.
OKXratU, MTOE.OOr.Da PHRCT. BOSBSOP1II88.
S 100,000 ILLINOIS CENTRAL
RAILROAD COMPANY
(T.nttlMlllr Dhl.lon mi. I Tennlruill
FIRST MORTOAOE OOLD OKS, BUF, 1H53,
$50,000 ILLINOIS CENTRAL
RAILROAD COMPANV
(St. Irats Division nmt Termliirtl)
FIRST UOU10AOK OOLD 0X8, DOK H31.
$100,000 ILLINOIS CENTRAL
RAILROAD COMPANY
(Western I.lnei)
FIRST U0RTOA0E GOLD SB, DtJE 1951.
$100,000 CIHCAQO. MILWAUKEB &
ST. PAUL RAILWAY CO.
FIRST JIORTOAOr. CIIICAOO A PACIT10
WKHTKRN UOLU M. DUE 1U2I.
$50,000 CIHCAQO, MILWAUKEE &
ST. PAUL RAILWAY CO.
CSAnthrreitern Division)
FIRST UORTOAOE OS. DUE 1009.
$40,000 CHICAGO, MILWAUKEB &
ST. PAUL RAILWAY CO.
(Southern Minnesota Division)
TIRST MORTOAOE OS. DUE 1910,
$20,000 CHICAGO, MILWAUKEE &
ST. PAUL RAILWAY CO.
(Wisconsin and Minnesota Division)
FIRST MORTOAOE OOLD CS. DUE 11)31.
$10,000 CHICAGO, MILWAUKEE 4
ST. PAUL RAILWAY CO.
(Chtcngn & PnclDo Division)
FIRST MORTOAOE OS. DUE 1910.
$10,000 CHICAOO. MILWAUKEB &
ST. PAUL RAILWAY CO.
Cn&stlncs Dakota Diviilnn Extension)
FIRST MORTOAOE 78, DUE 1910.
$30,000 CHICAOO & EASTERN
ILLINOIS RAILROAD
FIRST MORTOAOE S, DUE 1907.
$15,000 DELAWARE, LACKAWANNA &
WESTERN RAILROAD CO.
CONSOL.. NOW Vllisr, MTQE. 7B, DUB 1B07.
$10,000 NEW YORK. LACKAWANNA ft
WESTERN RAILWAY CO.
riRST MORTOAOE OS, DUE 1931.
$38,000 ST. PAUL, MINNEAPOLIS &
MANITOBA RAILWAY CO.
SECOND MTOE.. NOW FIRST. 63. DUE 1009.
S25.C09 MICHIQAN CENTRAL
RAILROAD COMPANY
CONSOI., NOW FIRST. MTOE. 78. DUE 1003.
$40,000 OREAT NORTHERN
RAILROAD COMPANY
(Knstern Itnilwuy of Mliinrsutn)
FIRST MTOE. OOT.I) r.9. DUF, 1H08.
$9,000 CHICAOO, BURLINGTON &
QU1NCY RAILROAD CO.
(Drnter Kxtrtmliin)
BTNKINU FUND 4H. DCI'. 1U23.
$15,000 CHICAGO, BURLINGTON &
QUINCY RAILROAD CO.
Clown Dllslin)
FIRST MTOE. B1NKINO FUND H. DUE lain.
muck and utrrAim hti.l iik ron-
NUIIKI) ON Al'IM.1 CATION.
N.W.Harris & Co.
IlANKIIltS,
81 NA83AC STREET, N11W YORK.
Bank of Couimerco Building.
Boston, Chicago.
Metropolitan West Side Elevated
Railroad Company
(OF CHICAGO).
IlEOItCaANBZATIOH.
To tbe holders of First Mortgngo Donds and
Coupons, and CnpltalStock of the Metropoli
tan West Side Elevated Railway Company
nnd of receipt! and trust certificates Issued
by tbo Cantral Trust Company of Now York
therefor.
Pnrsuant to tbe provisions of the agreement of
January 80, lff97, notice Is hereby given that this
Committee bas prepared and adopted a plan of
reorganization, and lodged a copr thereof with tbe
Central Trust Company of Sew York.
Further depotlta of the sbovs-namsd First Mort
gage Bonds and coupons and capital stock will be
received by the CENTIl AL THE8T COMPANY
OF NEW YOKIt, Bt WALL STItEKT, NEW
YORK, AMERICAN LOAN B TRUST COMPANY
OF BOSTON, and the rLLINOIa TRUST ft 8AVINOH
DANK OF ClUCiOO, up to and Including August Stb,
189S. Copies of ths plan and agreement mar be ob
tained at tbe office of any on of tbe depositaries.
New Tork. July 13, 1 80S.
FREDERIC P. OLCOTT,
Chnlrrnan.
WALTER O. OAKMAN,
SAMUEL TIIOKNt:.
Committee,
ADRIAN H. JOTJNH. i. N. WALLACE,
Counsel, Secretary.
6 Wall Btreet. New York City.
THE STATE TRUST CO.
100 IIROADWAY.
Capital and Surplus, $1,800,000.
Acts as Trustee), Kegl.trnr, Trunefnr and
Plicul Agent of Cnrpornllnns, nnd as Ei
eiutor, Aduilnl.trutiir, I'msti-a, (lunrdlun,
and Comiultlee of ICstatrs, 1-egnl Depml
try for Court nnd Trns4 Piinds. Tnkei
I'ull Clinrge of llrnl nnd I'rnnmil Estutn,
lutcrrst allowed nn drpnslls.
FRANCIS t. BAXns, Preidnt
W. A. NASH, Mce-ITo.ldBnt.
MAURICE IlRCRF.Il. riesrbUry.
II. M. I'lttNUIH, Trtwnrer.
11. IJ. lir.nnv.-lnwt Officer.
TiirBTFjat.
Willis B. rslne, Chrl" Bcribner.
II, nrr II. rok. Cli.cli-s I TlrTauy,
W Ic.rH. Johnston. UuntW. Whin-,
J...-fi,li N. 1U11 H-k, I'ontMil Knaiith,
I'.l-vl.-i A. Mr MU, l'nni-N H, IlanK,
Andrvw Mill-, . FniicJsLrfiileStetion,
W.lliiln .Null, TlMuiia. A. M.-l'iDrb.
ii nrr- Frn-ur Pealmdy, Kilward E. Poor.
1,1) I'nli't, Aiiwiud. ililVmk,
Hi nrr Hirer., It. A. O Smith,
Orriiyu V gulutard, 'Iboe. Y. Urau.
lurrt.t II I'urLt-r.
'I'O Till'. HOI.DK.r.R OF flrXURITIES ISSI'I'.D BY
1 TJIK'NILI'VIH'. SANI)UBKV AND 1IUC1CINO
1IAII.UOVIJ I'wUPANY
A large pruportldu of tbe boldrre ot the Ornerwi
IhitlL-rin bonds and other H-ur!t!ei iwurd liy the
rempanr abotu named Ix-lnu dUutliHul with tliu
lljn if tenrgaiUutlMii which tua U'tii proniulgattd.
ImMi signed an aurrciuent tndejnklt tin tr lion Jn with
tho North American Tnitt Conipanr, 10 llrundwiy.
New York, with a view to rtorganitttlnn upou the
folluvlug Icnoi urced on among tlicnuili rs
Pin1! mortgage bondi, 4 per cent., to be autborlMd
br the reorguulrcl cuiniunv, li.ill not eiceeil St.
000,000. Second mortgage Income 4 per cent Umda
not to exceed ts.noo.ooo. Aawvament nu bonds de
toltdi lresout ant InorWsge bonds, none,
Vnaent general mortgage bond!, 10 tier cent,
l'naentbicomobouda.lu percent. Present ibx-k, 0
perrtuU All aaae!meuu tu be repaid In new Hist
mortgage bonds at eO.
In the ereut a reorganisation ahall not be effected
?n this basis or on terms squill advantageous, then
lie securities to be redelivered to the subscribers on
ths uarmonl nf f 1 per bond.
NlaUiier plan of reorgsnlrvitlon aald Truit Com.
panjr roar effect, to be underwritten by renponslbls
parties, and to be made effecttee at the earliest prac
ticable date.
Other holders of itx-urttln Issued by ths Colnmlms,
Bacdusky and Hocking Railroad Company, Including
boldcra qf trut certlneates who wish to become par
ties to this agreement, are Invited to call at tbe orort
oftheNortn American Tmet Company, ion Broad
way, whste further Inforraatlon wUl be given.
eflunttciai. '
ssaaieaiesaasasatssaywsa.aj-iwia "is aWSawais.iaassaasasM1saiiiaaMasi af B
MartfJlisiirckaE' ' l
KnWTORKi LONDONl I im
lOOlinOADWAY. 03GRCMtlAnSll M
Capital paid up. . . .$1,000,000 'M
Surplus $200,000 M
Tnntvcts a irbnerat trust business, ' H
Allows liberal rates ot Interest ea deposits and. 'JIB
trust funds. apJB
lasiirs letters of Credit and TrnvleTS Ctrrnlsr IR
Kotci parable In dollars or In the money of a 35Ji
forelrn country. -SSB
Arts as Truto under mortcagea for railway and -Mmf
cthcrcompnnlesnn.l as Agent fur the ReglatraUeit Mmt
ct ths stork, and fi r the transf ir of tbe shares ot H
ihcorporatrd companies. JB
Undertakes thi examination tf propertied wM
tfcrcdtis treurity for bond hxaet, and Wm
the ovlaining of expert information MM
concerning the actual fads and protptctt m
ef reorganization proposals. laa
Qnaltned and empowcreil to act it executon.' QR
administrator, trustee, guardian, and assignee, and Sfl
as recalver and custodian ot funds undsr ordorsof M
Court, . ."aj
opficehbi m
XV. In TUENnoLM .President M.
llOLAND l.CONKMN.JT,cep,l,,n, Jfflf!
JAMES Ul!AE LI VWasTOM... Trust OtTlccy Am
H. L. CONK LIN HecretatT $m
V. C, rilF.ST Assistant Seerotnrv Sal
B. It. IIAItDEaT London Becretary ll
E. J. CUAPPELLi..... .London TreasureK' '' 'M
DincoT&uai ' jMi
non.JonNO.CARUStit:. rili
Fonnsr Secretary ot UieTrtaimyot thsTJ.B.v t(,Y
ROLAND R, CONKLIN. s M
Vlco-Preitdentot the ICorth American Trust Oa j
S.L.C0NRUN. Jfi
Secretary ot the North American Trust Co, IjjT
C. W.DRAKE, 57
TreaturerottbenioQrandeWesternR'wayC. "'Ac
BAMUELM.JARVIB. . ff
Vice-President of the North American Trust Co, J 'ah
Qon.ADLAI E. STEVENSON, M
Xz-Vlca-Presldent ot the United BtaUs '" iM
TTAOEBBWAYNE. ,- Jffi
Ot Messrs, Bwayu A SnaysejCquntslIorsts-Lam. l?S
Bon.W.L.TRENnOLM. .' ST
Former ComptroUer of the Currency of the P. B. Hr
BOSTOH M TEXAS I
COPPER MINING COMPANY, i
Bnbicrlptlons are invited to n portion o( ''3J
tbe capital stock at OS per share, fall paid
and unassessable (par 0133), for trensurw 3
purposes. Book open at the company's MS
ofllcb, 11 Iiroailvray, New York, VTe'dneiday, aft
July SO. jFJfl
Tbe property comprises over trrelve thou
sand acres. Hundreds of tons of rlch'eop mm
per have been marketed. It hat been fa m
Torably reported upon by experts and engi fj!l
nerrs. Mo expensive development work re ffi'4
mains tu be done. Ample machinery ob. w
tnlnnblo at comparatively small cost. Mln- S
rrnls enslly nnd rlionply mined and worked, ffifl
H'nler anil fuel In plenty. Near railroad. BB
T.nnd worth rost for agriculture. Every see wtf
tlon contains copper. Hegnriled by expert jui
ns one of the best In America, nnd that it KV
will prove cqnnl to the Cnltimet & Ileela. jSB
Coppor milling Is the snfrit and most ItfJ
prnfltnbln Industry In Amertra. A dnsen Wm
coniiiiiiilrs liue paid In dlilriemls one bun. SS;
tlreil million duUiirs in n few years and) jyf
their iluires liuve Inrreaand III vnltia above) HyEi
pur niiullirr liiinilred rnlllmn. Calumet dl Wm
Ileela tins puld W.Vl.OtMl.OHO dividends and JK
Its fjTl.l slutrei sell for ."70. llustnn aurX MtJ
.Miintiiiin piibl V7,iMM,000 anil Its iliares sell JB
nt B'iOt, par l2.1. The Qillnry hns paid '"tjSi
011,770,000 illilili-nds nnd Its shares srl SB
for ejill-l, par tt.. Comier serurttles aro Hj)
tlii g-pnt Wv r.nglnnd Investment, This ink;
riiiiipti-iy tins one of the Inrgeit prtipertlrs Kpl
In the nirlil, nnd cnrefnl estimates shnvtr &t
tluit It in ii earn Sn per cent, on the par 'OTJ
viiliie of Hi stock anil 100 per cent, per. mH
annum no the nutucriiitlnn price of CO per igv
stinre. .3j
l'riipertiis, limps, engineers' reports, re. I I
relpts for ores, and nunys npnn appllra.
tlnn In iiersnn or by letter. i 3
Boston and Tens Copper Mining Company,
1 1 Broadway, New York.
THE PITTSBURGH & WESTERli 1
RAILWAY COMPANY j
Second Mortgage 5 Bonds. 1 1
In vtewuf tho Receliershlp of tbe above Company, 1 Hi
under rrceedlnga brought for tbe foreclosure of the jail
msrtgaue mud. to Tha Mercantile Trust Coiuiwnr. aa KJ
TrnetM. 1-i-nrlngdate Mar 2 lit, lHUl.and of thepro- j K
poied reorgautratlon of the Ilaltlmore and Ohio Rail- fj
road Comp-.nr and tilled lines, the unden-lgncd, at jKj
the request of a majority of the outstanding bonds jfC
aecurrd lir aid ronrtgage, have consented to' act aa a, vgSfl
Committee lu the Interests of the holders of aald itw-t
bondi and to prepare a plan of reurganlratlon. HaB
Tbe Committee are now prepared to receive de $9,
poetti at The MrrraDtlle Truit Conipanr, No. 120 JSi
Droadwar, .Sew York City, of laid bondi. and deem V-JKf
it Important for tbe protectionof the holders thai ''.
mob dejioilts should be made on orbetoreJulr BOtb. E
under a bondholders' agreement, copies of which, 'mT
for ths algnatnre of bondholders, will be furnished J
upon spplicatioo. iSl
JOnN T. TERRY, '
DCMONf CLARRR, .'
FRANCIS A. BMITIIERS, 'M
JAMBS W. AIXXANDF.R, JE;
EIMON BORO,
Committee. ,Wu,
CDARLTS a DKMINO.Connscl. ,-Mw
ATAIN W. KRECn. Secy., -ttM
120 Ilroadway. jIS'
Sew Torfc. July 14.1808. S
Manhattan Trvst m
Company. II
WALL 6TRt.fc.-l. Corner NAS9AU, W
NEW YORK. Il
Capital & Surplus, - $1,500,000
omrnii. ' 1
Jumr I. WATEEBnP.T, Pretlaeat. W
JOHN KEAH. I v,,m .,. iff
AMOP T. TEETIOH, f Vlcs.PrsiUenU M
0H1ULCS II. EUIXII, tVcre'iry ail Trturrsa M
W. N.ATH DU4HE, H, THATEBE08B, f;
art. Stcretsry, cut. Triuanrtv Ml
High Gratis Investment Securities, If
TRUSTEES, INSTITUTIONS. AHD Wl
PRIVATE INVESTORS.' j:
ion hali; iiy !-l
REOIV10EwD,KERR&COB, M
u,iN-ui:i:a am iiond nuAi.cits, -h
3Ii'nil,ir New York Slock I'.xi'linnse. fom-
UH of i urn nt tiftrniiK sent upon sppllcatlon. rSI'
4 1 Wall St.. New York, ;
LOCOMOTIVES.
Richmond Locomollie and Macblns Vorhs, If;
RICHMOND, VIRGINIA. ?jf
BIUI1.E OU COMPOnNU LOCOMOTIVES TO T1IEIB H V t
OWN D1MONS Oil TO Ul-EClflUATlUNS. 3
M oilernly eiiulpped ilinps. S'l i
AiiiiiiiiI rnpuiily 1100 locomotives. Mi-
Teruia innilo aullsfiti'lory. , H'll
C'orrrsiuuUenre solicited. ufj
HENRY 0LEW8 &"00;,' ! !
II, 13, IS, mid 17 Itrnad St. C I I
Members N. Y. Stock Exchange. I j I,
Orders esecuted for lnetmentoron msnrln. In Mil ''
tereat allowed en deimslu, subject to check at elcht. R if'1
Act at Financial Airunti for Corporatlonaindlnrcator (cell
ii'2 P1KT1I AV., cor. 2Mb Ht. I,
4o7 lUIOADWAV, bUL KirliVe Bid 9 h '
Branch Offices S0 BROADWAY, cor Reade m. J
B7 HUDSON St., MercanUls K'6 U
t I It 00UJ1T8U, Brooklyn. Bg
nrnrm t'i'iii'ii an -Jf

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