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BOARD OF SUPERVISING ENGINEERS.

organized to acquire and take over the property Section 34 provides that within thirty days after

now in the hands of the receivers of the Chicago the acceptance of the ordinance the company and

Union Traction company. This includes the propcity shall each appoint an engineer to be members

erty of the various original corporations, such as of a board of three supervising engineers, the

the Chicago West Division Railroad company, the third member of which shall be Bion J. Arnold.

North Chicago City Railway company and the Provision is made for filling the position of third

Chicago Passenger Railway company. engineer by the company and city and if they are

If the property is not acquired by the Chicago unable to agree by the judges of the main Ap

Railways company within 120 days after the paspellate court. If these judges refuse to make the

sage of the ordinance the permission and authority appointment, then any judge of the Circuit court

granted shall end, unless within 210 days after may do so upon application by the city or com

the passage of the ordinance a plan of reorganizapany after written notice of the application has

tion in accordance with a deposit agreement, debeen given.

scribed in a later paragraph, shall have been apThe board of supervising engineers shall main

proved. Cnder this plan an opportunity sball be tain an office in the city and employ necessary

conferred upon each individual holder of a direct assistance. The third member shall be ex officio

or indirect interest in the property to participate chairman of the board and shall be paid $15,000

in the transfer, which opportunity shall not extend a year. In addition he shall be paid $15,000 a

beyond Jan. 20. 1908. year for his services as chief engineer during the

Upon the expiration of the period last mentioned three-year period of rehabilitation. The other

the company shall proceed to perfect its title to two members of the board shall be paid at the

the entire property, using for that purpose if necrate of $100 a day each and expenses when away

essary any and all stocks and securities acquired from home and when actually engaged upon this

through the plan of reorganization. The city may work, it being understood that the total compen

in its discretion exercise any and every power sation of each will not be less than $3,600 nor

with which it may be vested to obtain title to more than $10,000 a year. The salaries and ex

any part of the property to which the company penses of the board during the period of rehabili

has failed to obtain title. The company shall then tation shall be added to and form a part of the

be obliged to buy from the city such property at cost of such rehabilitation, but thereafter shall

the price paid by the city. The city, however, be paid out of the gross receipts as an operating

gives the company the right to be heard upon the expense. The same engineer who represents the

question of value, which may be determined by Chicago City railway shall represent the Chicago

judicial proceeding or appraisement. Railways company (Union Traction).

Within a period of three years from the passage

of this ordinance the company shall perfect its POLICE POWER RESERVED.

title to the entire system of street railways. The In section 35 the police power of the city is ex company shall not be deemed to be in default of pressly reserved.

this obligation so long as the city has given no UNIFIED OPERATION ASSURED.

notice of its intention to buy the property, unless

notice has been given in writing by the city of Comprehensive rehabilitation and unified opera

some particular defect of title, lien or incumtion are assured by section 36, which provides that brance and the company shall have failed within if the Chicago Railways company (Union Traction)

sixty days thereafter to remove the same. sl all fail to accept an ordinance similar to that of the Chicago City Railway company, then the City

DEPOSIT OF STOCKS. Railway company shall extend and operate its It is further provided that no right or authority street-railway system upon the streets covered by shall vest in the company and the company shall thie rejected ordinance so far as the rights of the not have the right to accept this ordinance unless companies now operating the street railways upon there shall have been deposited with the Chicago such streets have expired by limitation or other Title and Trust company, under an agreement wise. The City Railway company agrees to furnish which is made a part of the ordinance, certificates the funds required in such event. Its obligations of stock indorsed in blank for transfer, represent. under this section may be discharged by itself or ing not less than the following amounts of the by the Chicago City Railroad company, a corpora capital stock of the corporations named: 3, 126 tion organized under the laws of Mlinois.

shares of the Chicago West Division Railway comThe ordinance is binding upon the successors and pany; 1,251 shares of the North Chicago City Rail. assigns of the company (section 37) and no lease way company; 29,601 shares of the North Chicago or assignment shall be made without the consent Street Railroad company; 49,946 shares of the West of the city (section 38). Whenever the city shall Chicago Street Railroad company; 80.001 shares of purchase the company's property the company the preferred stock and 133,334 shares of the comshall give a warranty of title (section 39). "The mon stock of the Chicago Union Traction company. company shall also file a bond in the penal sum In the event that the company shall accept the of $100,000 to indemnify and save the city harm ordinance, and if by reason of its failure to comless from all damages, judgments and decrees ply with its provisions the permission and authorwhich it may suffer by reason of granting the ordi ity granted by the ordinance shall cease, then all nance (section 40). All rights and obligations are the shares of stock of the companies mentioned in to date from Feb. 1, 1907 (section 41).

this subdivision of the section, owned by the com

pany or deposited with the trustee as agreed upon, ACCEPTANCE AND REFERENDUM.

shall become the property of the city. Section 42 provides that the ordinance shall not

No right, permission or authority under this ortake effect unless and until a majority of the votes

dinance shall vest in the company unless at the cast upon the following question of public policy time of its acceptance of the ordinance it shall at the election to be held on the first Tuesday in be in lawful possession of all the lines of street April, 1907, are in the affirmative:

railway_operated by the receivers of the Chicago "For the approval of ordinances substantially in Union Traction company Feb. 1, 1907. the form of the pending ordinances (reported to the city council of the city of Chicago on Jan. 15,

PRICE TO BE PAID BY THE CITY. 1907), authorizing the Chicago City Railway com In case the city shall purchase the street railpany and the Chicago Railways company, respec way system of the company it shall pay the sum tivelyto construct, maintain and operate street of $29,000,000. This includes the property of all railways in said city, and providing for the pur- the underlying companies excepting the rights chase thereof by the said city or its licensee." and claims of the Chicago Consolidated Traction

company. To the sum named shall be added the CHICAGO RAILWAYS COMPANY FRANCHISE.

value of all property acquired and additions made.

including tunnel reconstruction, between June 30. SPECIAL CONDITIONS.

1906, and Feb. 1, 1907, and the cost of reconstrucAs this ordinance is practically the same in its tion and extensions at and prior to the time of general provisions as that of the City Railway purchase by the city. company only the principal differences and special

CONSOLIDATED TRACTION conditions will be noted here. The Chicago Raii The company shall at its own cost secure the ways company, to which the franchise runs, was I privilege of using all of the lines of the Chicago Consolidated Traction company forming part of phia filed suit in the United States Circuit court the through routes established by the ordinance or asking that the properties of the Union Traction to be formed in the future. The company also company be sold by a master in chancery to the covenants that it will secure to passengers the highest bidder. same right of transfer between the lines of the company and the lines of the Chicago Consolidated

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FIRST REPORT UNDER NEW ORDINANCE. Traction company as if the latter were owned and operated by the company under the provisions of

Following is a statement showing the expenses this ordinance.

and gross and net earnings of the Chicago City

railway from Feb. 1, when the traction ordinance TUNNEL RECONSTRUCTION.

went into effect, to July 31: The company shall, upon accepting the ordinance,

GROSS EARNINGS. immediately proceed to complete the work of Passenger ......

..$4,014,557 lowering and reconstructing the tunnel under the Chartered cars..

1,351 river at Van Buren street according to the plan Mail ...........

12,430 prepared by Samuel C. Artingstall. “It shall also Newspaper .....

750 proceed with the work of constructing a false roof Advertising ....

18,750 in the tunnel under the river at Washington street Rent of land and building

123 and with the removal of the crown of the tunnel. Rent of tracks.....

2,985 Upon its organization the board of supervising en Sale of power...................

6,390 gineers shall prepare plans for the complete reconstruction of both the Washington and La Salle Total gross earnings...........

4,057,336 street tunnels and the company shall construct

OPERATING EXPENSES. them in accordance with such plans.

The company must construct and equip six miles Maintenance of way and structures..... 273,510 of double track or twelve miles of single track

Maintenance of power plant........

12,947 each year after the period of reconstruction. With

Maintenance of cars.......

230,879 in three years the company must have in operation

Maintenance, miscellaneous......

8,668 at least 1,200 double-truck cars of the kind speci

Miscellaneous shop expenses...

34,040 fied.

Operation of power plants.....

497,342 Operation of cars....

1,242,814 UNION TRACTION LITIGATION. General expenses......

400,391

Unexpended balance of 70% allowance... . 139,544 In accordance with the terms of the street-rail. way ordinances passed by the council Feb. 4 and

Total ...

2,840,135 11. 1907, and approved by the referendum vote of Excess of gross earnings over operating April 2 following, efforts were made to reorganize expenses

1,217,201 the Union Traction properties and a detailed plan

FIXED CHARGES. for that purpose was announced by Judge Peter Taxes

137,500 S. Grosscup July 13. Objections were raised and Interest on investment.........

576,037 on an appeal to the United States Circuit Court of Interest on employes' deposits......

... 98 Appeals the plan was declared illegal. It being impossible to adjust the differences and organize Total

713, 635 the proposed Chicago Railways company within Net earnings for the six months............ 503,566 the time specified in the ordinance, the matter was referred to the city council. That body on

DIVISIBLE AS FOLLOWS: Sept. 13 by a vote of 64 to 4 extended the time in Chicago City Railway company, 45%...... 226,605 which the Chicago Railways company could accept Less interest on bank deposits.......

1,257 its ordinance to Feb. 1, 1908, but provided that in the interim all the revenues of the Union Trac Total to company...

225,348 tion company outside of the actual operating ex To city of Chicago, 55% ($276,96 penses should be devoted to improving the prop $1,257 interest on bank deposits)....... 278,218 erty. Oct. 21 the Fidelity Trust company of Philadel. | Total ...

503,566

DIVIS

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CHICAGO'S STREET-RAILWAY SYSTEM.
Capital (issued) and mileage of the roads operating in Chicago and vicinity.
SURFACE.
i Road.

Capital. Miles Road.

Capital. Miles. | Union (loop)f................ ... 5.000.000 Aurora, Elgin & Chicago.......... $6,200,000 155

Total elevated................... 50,524,700 144 Calumet Electric...........

500,000
Grand total..........

.......163, 788,500 1,508 Chicago & Joliet.....

2,300,000 41

*Single track. Includes Chicago Consolidated Chicago & Milwaukee..

5,000,000 140

Traction company. Owned by Northwestern ele. Chicago Electric Traction....

2,000,000

vated. Chicago City railway..

18,000,000 243 Des Plaines Valley..

1,100,000

PASSENGER TRAFFIC ON CHICAGO STREET General Electric...... 5,000,000 25

RAILWAYS. Hammond & East Chicago

510,000

Main systems only, 1906.
Southern railway...

800,000
Chicago City railway....

..250, 800,469 North Shore......

650,000
Union Traction.......

..346,855,886 South Chicago.....

1,844,800
Consolidated Traction...

58,057, 257 Suburban ..... 1,250,000 30 Total surface...

..655,713,612 Union Tractionf.... .... 68,109,000 486 Chicago & Oak Park elevated.

.. 17,452,389 Metropolitan elevated...

.. 49,771,812 Total surface....................113,263,800 1,364 Northwestern elevated....

.. 30.307,287 South Side elevated......

...34,424.270 ELEVATED. Total elevated..

131.955,758 Chicago & Oak Park...

$8,700.900
Total city....

..787,669,370 Metropolitan ..

16,500,000

Note-The figures for the surface lines include Northwestern ........

10,000,000 32 both cash and transfer passengers. About twoSouth Side........

10,323,800 45 | fifths are transfer.

NAVIGABILITY OF THE CHICAGO RIVER,

The main part of the Chicago river is navigable by boats of 20 feet draft, the south branch and forks by boats of the same draft for 5.5 miles

and the north branch and canal by boats of 16 feet draft for about 6 miles. The rebuilt tunnels have a clear depth of 22 feet above them at low water.

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CHICAGO PROHIBITION AND LOCAL-OPTION DISTRICTS.

Nov. 1, 1907. The total area in Chicago covered by local-option 22. Territory bounded by Throop street, Jack or prohibition ordinances is, according to the city son boulevard, Laflin, W. Monroe, Loomis and W. map department, about 127 square miles, or more Adams streets. Passed Jan. 8, 1906. than two-thirds of the whole. There are some sey 23. Territory bounded by Washington boulevard, enty-two districts where saloons are either barred S. Sacramento avenue, W. Madison street and S. entirely or are permitted only after securing the Francisco avenue. Passed March 12, 1906. consent of a majority of the residents. The ac 24. Territory bounded by Huron street, Dearborn companying map, copied from the original pre avenue, Erie and N. State streets. Passed April pared by the city map bureau, shows the approx 7, 1906. imate location of the districts with the exception 25. Territory bounded by line 150 feet east of of the minor prohibition territories in the old La Salle avenue from Chicago avenue to Division town of Lake-those within 150 feet of public street and by line 150 feet west of LaSalle avenue parks, schools or churches. The boundaries as shown from Division street to Chicago avenue. Passed on the map and as given in the following descrip May 14, 1906. tions serve merely to indicate the general loca 26. Territory bounded by Waveland, Hamlin, tion, the actual boundaries in many cases being Cornelia and North avenues and Addison street. the alleys running parallel to the streets named. Passed Nov. 12, 1906.

27. Territory bounded by W. Montrose avenue, PROHIBITION DISTRICTS.

St. Paul tracks, Irving Park boulevard, N. 56th

and W. Leland a venues and Northwestern tracks. CREATED BY CITY ORDINANCES.

Passed Nov. 12, 1906. 1. Territory bounded by Wentworth avenue, 119th 28. Territory bounded by 75th street, 125 feet street, Union avenue and 123d street. Ordinance east of Centre avenue, 79th street 125 feet west of passed Oct. 18, 1895.

Halsted street. Passed Nov. 19, 1906. 2. Territory bounded by S. 40th avenue, Harri 29. Territory bounded by Leavitt street, Western son street, s. 46th avenue and Madison street, ex and Montrose avenues and a line 300 feet north of cept Van Buren street between W. 40th and W. Sunnyside avenue. Passed Feb. 7, 1907. 42d avenues. Passed July 27, 1896; amended Nov. 30. Territory bounded by Jackson Park avenue, 5, 1897.

Fort Wayne tracks, Marquette avenue and 94th 3. Territory bounded by W. Diversey street, N. street. Passed April 4, 1907. 66th, W. North and N. 72d avenues. Passed March 31. Territory bounded by 95th street, Cottage 8, 1897.

Grove and Burnside avenues, Belt railway and St. 4. Territory bounded by Cullom avenue, Clark Lawrence avenue. Passed May 6, 1907. street, Irving Park boulevard and a line parallel 32. Territory bounded by Leavitt street, alley with and 150 feet distant from the west line of 125 feet south of W. Madison street, Oakley bouleClark street. Passed Sept. 25, 1899.

vard and Van Buren street. Passed May 6, 1907. 5. Territory bounded by W. Sunnyside, N. 43d, 33. Territory bounded by Washington boulevard, W. Cullom and N. 45th a venues. Passed Oct. 21, Albany avenue, Monroe street, Kedzie avenue, 1901.

Madison street, Albany avenue and Washington 6. Territory bounded by Western avenue, 65th, boulevard. Passed May 6, 1907. Wood and 77th streets. Passed March 18, 1902.

34. Territory bounded by Albany avenue, Madi7. Territory bounded by Irving Park boulevard, son street, Kedzie avenue, Washington boulevard, Robey, Leavitt and Grace streets and Waveland Spaulding avenue and Monroe street. Passed June avenue. Passed May 12, 1902.

17, 1907. 8. Territory bounded by Armitage, N. 40th, W. 35. Territory bounded by W. Monroe, Laflin and Fullerton and N. 46th avenues. Passed Feb. 29, 1904. Madison streets and Centre avenue. Passed July

9. Territory bounded by Division street, N. Ked-1 1, 1907. zie. N. Central Park, Pierce and North avenues. Passed June 27, 1904.

LOCAL-OPTION DISTRICTS. 10. Territory bounded by N. 46th, W. Fullerton, N. 52d, Grand and Armitage avenues. Passed Dec.

CREATED BY CITY ORDINANCES. 19, 1904.

1. Territory bounded by Oakwoods cemetery, Il11. Territory bounded by Ridge, Bryn Mawr, linois Central tracks, 69th and 71st streets. Passed Southport and Peterson avenues. Passed May 22, June 18, 1894. 1905.

2. Territory bounded by Cornell avenue, Illinois 12. Territory bounded by 59th and 67th streets, Central tracks, Lake Michigan and 55th street. Ashland and Western avenues. Passed May 22, 1905. Passed June 18, 1894.

13. Territory bounded by W. Fullerton avenue, 3. Territory in Buena Park bounded by Stella Humboldt boulevard, W. Diversey and N. Hamlin street, Hayes avenue, Lake Michigan and Sheridan avenues. Passed July 10, 1905.

road and Byron street. Passed May 28, 1894. 14. Territory bounded by Vincennes road, 87th 4. Territory bounded by Clark street, Lake View, street, Western avenue and 95th street. Passed Diversey and Fullerton avenues. Passed March 8, July 10, 1905.

1895. 15. Territory bounded by W. Devon, N. 40th, W. 5. Territory bounded by 35th street, Western Foster and N. 50th avenues, Gunnison street, N. avenue, Chicago & Alton tracks and California 52d and Milwaukee avenues. Passed July 10, 1903. avenues. Passed June 27, 1895.

16. Territory bounded by Evanston avenue, St. 6. Territory bounded by Byron street, Lake Paul railway, Winona street, Southport and Bryn Michigan, Diversey and Evanston avenues. Passed Mawr avenues. Passed Oct. 16, 1905.

June 27, 1895. 17. Territory bounded by Kedzie avenue, W. 35th 7. Territory bounded by 39th street, Cottage street, California avenue and the Chicago & Alton Grove avenue, Lake Michigan and the north line tracks. Passed Oct. 16, 1905.

of section 2. Passed July 15, 1895. 18. Territory bounded by Lake Michigan, Chicago 8. Territory bounded by Southport avenue, St. and Dearborn avenues, Huron, N. State and On Paul railroad, Rosemont and Peterson avenues. tario streets. Passed Oct. 23, 1905.

Passed March 1, 1897. 19. Territory bounded by Homan avenue, W. 9. Territory bounded by 50th and 51st streets, 12th street, S. 40th avenue and W. 16th street. Cottage Grove and Prairie a venues. Passed June Passed Oct. 23, 1905.

22, 1903. 20. Territory bounded by Sacramento avenue, 10. Territory bounded by Foster and Evanston Walnut street, N. Francisco avenue, Lake street, avenues, St. Paul tracks and Seminary avenue. N. California avenue and W. Kinzie street. Passed Passed Dec. 21, 1903. Dec. 4, 1905.

11. Territory bounded by Oakley boulevard, W. 21. Territory bounded by Douglas boulevard, al. Harrison and Flournoy streets. Claremont avenue, ley south of Colorado avenue, Central Park ave | W. Taylor, S. Leavitt and DeKalb streets. Passed nue, W. Van Buren and W. Monroe streets. Passed June 6. 1904. Dec. 4, 1905.

| 12. Territory bounded by Clark street, Sunnyside

lue and W. Avenue, Like avenue,

avenue, Dover street and Montrose boulevard. Passed July 1, 1904.

13. Territory bounded by 16th street, the alley between Michigan and Indiana avenues, 21st street, Prairie avenue, 220 and 23d streets. Passed Dec. 5, 1904.

14. Territory bounded by Harvard street, W. Polk street, Kedzie avenue, Harrison street, Flournoy street and Douglas boulevard. Passed March 20, 1905.

OTHER ORDINANCES. In addition to the ordinances passed by the Chicago city council, other liquor legislation enacted by municipalities now in whole or in part annexed to the city are still in effect. They include ordinances passed by the town of Cicero Aug. 28, 1880; June 26, 1889; April 10, 1897. By the village of Fernwood Oct. 7, 1890. By the village of Hyde Park March 28, 1887; April 4, 1889; May 8, 1889; June 5, 1888; Nov. 5. 1888; June 21, 1889. By the village of Jefferson June 27, 1888; May 29, 1889. By the town of Lake April 3, 1889; May 14, 1889. By the city of Lake View June 27, 1889. By the state legislature Feb. 14, 1855, prohibiting the sale of liquor within four miles of the Northwestern university. By the village of Washington Heights June 7, 1886 and Oct. 18. 1886. By the village of West Ridge March 17, 1891, and the village of West Roseland Oct. 1. 1889. The prohibition districts established under these ordinances were as follows:

1. Town of Cicero.
2. Village of Fernwood.

3. Territory bounded by 54th street, South Park avenue, 63d street and alley east of State street.

4. Territory bounded by St. Lawrence avenue, 93d street, Illinois Central tracks and 95th street (Burnside).

5. Territory bounded by Diversey, Western, California and Fullerton avenues.

6. Territory bounded by, Montrose, Elston, Warner and Milwaukee avenues.

7. Territory in town of Lake within 150 feet of any public park, parkway, boulevard, public school or church; territory bounded by State, 79th, Halsted and 68th streets and Garfield boulevard; territory bounded by alley between Gordon and 43d streets, alley between Emerald avenue and Halsted street, Stewart avenue and 49th street; territory bounded by 55th street, Western avenue, 71st street and west town line.

8. Territory bounded by Graceland avenue. Clark street, Bryn Mawr, Western and Lincoln avenues, Byron street and Southport avenue.

9. All of the village of Washington Heights not within 200 feet of Vincennes avenue.

10. All that part of the village of West Ridge lying west of a line parallel to and 200 feet west of Ridge avenue.

11. All the territory within the village of West Roseland.

LOCATION OF RAILWAY PASSENGER STATIONS.

CENTRAL STATION-Park row and 12th street; south | GRAND CENTRAL STATION-Fifth avenue and Harside.

rison street; south side. Chicago, Cincinnati & Louisville.

Baltimore & Ohio. Cleveland, Cincinnati, Chicago & St. Louis (Big Chicago Great Western. Four).

Chicago Terminal Transfer. Illinois Central.

Pere Marquette, Michigan Central.

LASALLE STREET STATION-Van Buren and La Salle West Michigan.

streets; south side. Wisconsin Central,

Chicago & Eastern Illinois. CHICAGO & NORTHWESTERN - Wells and Kinzie

Chicago, Rock Island & Pacific.

Lackawanna. streets; north side,

Lake Shore & Michigan Southern. All divisions.

New York, Chicago & St. Louis (Nickel Plate). DEARBORN STATION-Dearborn and Polk streets; UNION STATION-Canal street, between Adams and south side.

Madison; west side. Atchison, Topeka & Santa Fe.

Chicago & Alton. Chicago & Western Indiana.

Chicago, Burlington & Quincy. Chicago, Indianapolis & Louisville (

Monon).

Chicago, Milwaukee & St. Paul. Erie.

Pittsburg. Fort Wayne & Chicago. Grand Trunk.

Pittsburg. Cincinnati, Chicago & St. Louis (Pan Wabash,

Handle).

CHICAGO BANK CLEARINGS AND BALANCES.

May .....

Year.

Clearings.
Balances. Month.

Clearings. Balances. 1897... .. $4,575,693,340.54 $457,609,040.86

$914,741,308.36 $64,519.904.25 1898.. 5,517,335, 476.66 555, 107,047.54 June ....

907,411.986.26 60, 254, 219.16 1899. 6,612,313,611.00 646, 147,807.07 July ....

902, 474,563.11 60.652,923.37 1900. 6.799,535,598.36 623,931,299.40 August

886,828,954.24 64,414,704.04 1901.... 7,756,372,455.31 690, 404,179.78 September

841,651,763.51 50,530.874.94 1902.. 8.394,872,351.59 653,199,39€.54 October

1,000,451,400.26 61,182,512.65 1903. 8,755,553,649.93 675,022,539.58 November

975,378,958.42 57,469, 476.16 1904.... 8,989,983,764.40 739,806,074.15 December ..

. 1,007,457, 646.69 91,616.918.63 1905. .. 10, 191,765,732.59 779, 110,938.92

Total ... ........11,047,311,894.50 735, 239,699.40 1906..... ....11,047,311,894.50 735, 239, 699.40

CLEARINGS OF 1907 (FIRST SIX MONTHS). CLEARINGS OF 1906 BY MONTHS.

January ...

$1,040,404,771.86 $66, 452,585.30 Month.

Clearings. Balances. February .. .... 927.943,981.89 58,758, 771.37 January ...... $986,844,841.17 $79,242,991.75 March

1,065,975,562.22 62,282,574.62 February ..... 886,693,382.68 58,000,666.47 April ....

1,026, 743,176.42 64, 264,535.39 March ...... 927,753,448.74 56,203,682.87

May

1,120,510, 142.41 87,280,521.62 April 870,623, 641.06 53,781,218.40 ) June ....

1,030,270,994.13 60.912,796.97

THE B. F. FERGUSON MONUMENT FUND.

By the will of Benjamin Franklin Ferguson, a pioneer lumberman who died April 10, 1905, the perpetual income from a trust fund of $1,000,000 was set aside for defraying the cost of statuary to be erected in the parks and boulevards of Chicago. The fund is the “B. F. Ferguson monument fund" and is used "entirely and exclusively under the

direction of the board of trustees of the Art institute of Chicago in the erection and maintenance of enduring statuary and monuments of stone, granite or bronze, in the parks, along the boulevards and in other public places, commemorating worthy men and women of America or important events of American history." The Northern Trust company is trustee.

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