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[blocks in formation]

Profit on maximum circulation obtainable, 2.06 per cent.

[blocks in formation]

Profit on maximum circulation obtainable, 1.71 per cent.

1, 707.58

[blocks in formation]

Profit on maximum circulation obtainable, 1.35 per cent.

[blocks in formation]

Profit on maximum circulation obtainable, 0.98 per cent.

10, 449. 46

977.58

United States 4 per cent bonds of 1925.

[Sold February 1, 1895, at a price to realize 24 per cent to investor; money at 4 per cent.]

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Sinking fund (reinvested quarterly) to liquidate premium.

549.33

$1,647.81

Net receipts.

5, 772. 19

Gain on circulation.....

$131,591.80 loaned at 4 per cent.......

Gain on maximum circulation obtainable, 0.51 per cent.

5, 263. 67

508.52

United States 4 per cent bonds of 1925.

[Sold February 1, 1895, at a price to realize 24 per cent to investor; money at 6 per cent.]

[blocks in formation]

Loss on maximum circulation obtainable, 0.25 per cent.

United States 4 per cent bonds of 1925.

[Sold February 1, 1895, at a price to realize 24 per cent to investor; money at 8 per cent.]

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United States 4 per cent bonds of 1925.

[Sold February 1, 1895, at a price to realize 24 per cent to investor; money at 10 per cent.]

[blocks in formation]

Loss on maximum circulation obtainable, 1.88 per cent.

United States 4 per cent bonds of 1925.

[blocks in formation]

[Sold February 1, 1896, for 111.100; money at 4 per cent.]

11, 279. 44 13, 159. 18

1,879.74

[blocks in formation]

Profit on maximum circulation obtainable, 1.67 per cent.

[blocks in formation]
[blocks in formation]

Profit on maximum circulation obtainable, 1.22 per cent.

United States 4 per cent bonds of 1925.

[Sold February 1, 1896, for 111.100; money at 8 per cent.]

[blocks in formation]

Profit on maximum circulation obtainable, 0.75 per cent.

United States 4 per cent bonds of 1925.

[Sold February 1, 1896, for 111.100 (estimated); money at 10 per cent.]

[blocks in formation]

9, 642.30 8,888.00

754.30

[blocks in formation]

Sinking fund reinvested quarterly to liquidate premium..

Net receipts .....

$111,100 loaned at 10 per cent

Profit on circulation

Profit on maximum circulation obtainable, 0.27 per cent.

11, 110.00

274.40

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