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I
tfHEf
V
ammerr|a
* I
wnanr^l
teitte, ^mnwemal $im*5S, fattwiuj ptonitot, and Insurance |<mrnal
A WEEKLY
NEWSPAPER,
representing the industrial and commercial interests
of the united states.
VOL. 9.
NEW YORK, DECEMBER 11, 1869.
Foreign Bills.
Rider &
73
Bankers and Brokers.
Cortis,
BROADWAY,
NEW
Bankers and Brokers.
OFFICE
Lockwood & Co.,
YORK
94
-
Successors to
E.
S.
BROADWAY,
SAML. THOMPSON’S NEPHEW.
Continue the Banking and Commission business In
19 New Street.
RAILWAY, GOVERNMENT,
,
Sight Drafts on A. 8. Petrie & Co., London,
Royal Bank
of Ireland, Dublin; Bank of
Scotland, Edinburgh.
C. Grlmshaw & Co.,
Liverpool. Also on Germany,
New York, November 5,1889.
E. S. MUNROE.
Martin
Duncan, Sherman & Co.,
BARKERS,
40 WALL
-
available in all the principal cities of the
world; also,
COMMERCIAL CREDITS,
AGENTS
Hope
State
in all parts of the I nited
States and Canadas.
Accounts solicited and interest allowed
on
A. F. B.
MARTIN,
78 State
Bills
CIRCTJLABLETTERS
LESS IN
Lutcastk*
A
Co.,
Richmond.
bought and
BUCKINGHAM.
14
*
A.
Iff XT* s.
No. 47 Wall
bankers
DIALERS
in
Co.,
Street, New York.
and
C.
brokers,
GOVERNMENT SECURITIES
CitizensBankor Louisiana
Draw
London Joint Stock
Baring, Brothers 4 Co,
In sums to
on
STOCK AND BOND BROKER,
S.
on
Bank,
C.
Southern Securities of every
description, via.: Un*
ourrent Bank Notes,
State, City and Railroad
Stocks,
Bonds and Coupons bought and
sold on commission.
Orders solicited and satlslactlon
guaranteed. Prices
current issued
weekly and exchanged regularly with
Banking Houses.
Refers by permission to Chas. T.
Lowndes, Esq.,
President Bank of Charleston and
Agent Liverpool,
London and Globe Insurance Co.
Marcuard. Andre 4 Ce
Fould 4 Co,
London,
Paris
points salting buyers of Sterling or France
x. G. PEARL.
». r. jvrt
Pearl &r Co.,
BANKERS AND
64
BROKERS,
BROADWAY 4 19 NEW BT., NEW YOBK.
Government Securities, Gold, stocks and
Bond* of
every description bought and sold on Commission
Southern Securities a specialty.
.
Taussig, Fisher & Co.,
BANKERS AND BROKERS
No. 33 Broad
Street, Now York.
Buy and Sell at Market Bates
ALL UNITED STATES
SECURITIES,
Solicit aooounta from Ml
aoooi
Jl__
others, and ailc
there,
allow Interest on daily
balanoea, at Meet
to
_
-
b
Bight Draft.
"
wm. *.
Jesup & Company,
BANKER8
»«<,««.
$8,5Q0,QQQ,
AGENCY,
„
M. K.
Banking Ass. N. Y.
Bank Chicago.
Capital and Reserved Fund
Kaufman,
CHARLESTON,
&
Rkfbbxncxs
J. H. Fonda, Pres. National
Mech.
C. B. Blaib, Pres. Merchants'
Nat,
BROWN.
DEALERS IN GOVERNMENT
SECURITIES,
No. 6 Wall
St., New York.
WALL STREET.
McKim, Brothers
J. M
BROKERS,
STREET, NE W YORK,
Stocks, Bonds, Government
Bought and Sold exclusively on Seonrltlee and Gold
commission.
Accounts of Banks, Bankers and
individuals receiv¬
ed on favorable terms.
LateQfA.H.Brovm&Co.
BANKERS,
OOVEBNMENT SECURITIES,
.
I
Orders in Stocks, Bonds and
commission. Interest allowed on Gold, clouted
deposits.
Frank & Gans,
28 BROAD
& Bro.,
Buckingham & Brown, A. D. SeLLECK, 87 Pine at, W.T
EUROPE
DEALERS
JR.
J. L. Brownell
BANKERS Sc
and Gold
commission.
individuals solicited and
Special.
Brown, Lancjastbb & Co.,
Baltimore.
AND
on
ioterest allowed on deposits.
Wm. B.
Litchfibld,
Lewis A. Stim90n,
Chablbs H. Dana,
Walter E. Colton.
E. B. Litchfibld,
-
bankers
sold
Accounts of hanks and
OF CREDIT FOR TRAVEL
ALL PARTS OF
ENOS RUNYON.
No. 18 William St.
Government Securities,
Stocks, Bonds
Street, Soston,
London.
New Yor k
State and Canada.
DANA Sc SUMMON,
AND BROKERS,
LatcuHth Jay Cook* <tCo |
19 William
Street, New York
Paris and the Union Bank of
on
mott, Special.
LITCHFIELD,
Q.
Nq. 12 Rue de la Palx, Paris.
Paddock,
>
PrODrlator9
Obin C. Frost,
Mkbbitt Andrus, j proprietors.
Cashier.
Correspondents :
Central Nat. Bank, New
York; Jay Cooke A Co.:
N. Y. State Nat. Bank,
Albany, N .Y.
Special attention paid to collections In
Deposits.
BANKERS
[Successors to Bowles, Dbevet &
Co.]
Y.
G. F.
and Specie.
Stocks and
bought and sold on Commission, Government
Coupons bought at Market Rates. Collections made
Ward,
BARING BROTHERS
COMPANY.
MA WALL STREET, NEW YORK,
*8 STATE STREET, BOSTON.
Watertown, N.
_
ST., NEW YORK,
Dealers; In Governments
FOB
Bowles Brothers & Co.,
GEO. F. PADDOCK Sc COM’Y8
BANK.
Bonds
w. b.
S. .G. & G. C.
E. S. MUNROE A CO.
to
BROKERS,
ISSUE
Circular notes and circular letters
*
W
;
1
OF CREDIT,
for the nee of Travelers abroad and in the United
For use in Europe, east of the
Cape of Good
West Indies South America, and the United
Runyon,
W. B. Mott Sc Co.,
STOCK
CORNER OF PINE AND NASSAU STS.,
‘hates,
&
Successors
JA8. F. JORDAN.
WM. L. MONTAGU*
Dealers In Railway and other Shares
current at the
New York Stock Exchange.
We furnish to, or purchase
of, applicants In loti to
suit, on fayorable terms.
s
And other Securities.
France and Sweden.
AND
MERCHANTS,
12 PINE STBEBT.
it-* **oa“» r®r Railroad Co*.,
8,eel
end
OF
Munroe & Co.,
NEW YORK,
Bankers furnished with
Sterling
and through passage tickets from Bills of Exchange,
Europe to all arts
oi the United States
.
NO. 233
undertake
^Ibfuiaens connected
IiOcomotlTea,
with] Rail war*
UTLXT,
Utley
GKO. W.
&
DOUGHERTY.
Dougherty,
BROKERS,
Make collections on f ar ora die
terms,
promptly exeoute orders for the purchase or ss e
and
ol
BANKERS AND
NO.
11
WALL
STREET, NEW YORK.
Governments, Gold, and all classes of Stocks and
Bonds bought and sold on
commission. Orders
promptly and carsfully executed.
W. D. REYNOLDS A
BROTHER,
Commission Merchants at
Norfolk,
tion given to purchase of Cotton. Y». Special atten¬
Gold, State, Federal, and Railroad
Securities.
Henry
Sancton,
• TOOK *
GOLD
RBOK1B
NO. 34 NEW STREET, NEW
YORE,
BOOM W,
,r#
Banler* and
BANKING
[December 11,1869
CHRONICLE.
THE
738
Financial.
Financial.
Bakers.
OP
Banking House of
Co.,
Smith, Randolph 8c
HOUSE
BANKERS,
Co.,
Jay Cooke 8c
and
York, Philadelphia
New
lluililuston.
No.
Sell and Exchange
Dealers In U.8. Bonds and Members
at most liberal rates, alj
of Stock and Gold
ISSUE BILLS OF
C. J. HAMBRO &
AND OTHER
MISSJSS1PP
for pur
CO.Frankf ort
CO., Parle.
PRINCIPAL CITIES ;
available throughout Europe.
And Letters of Credit
Circular Notes
Stocks, Bonds and Gold.
WE NEGOTIATE
RAILROAD AND MUNICIPAL
LOANS, receive Deposits, subject to Check, allowing
interest, and transact a general Banking Business.
JAY COOKE & CO.
AND
CIRCULAR LETTERS OF
CREDIT
FOR
CO,,
&
ALEXANDER SMITH
No. 40 Wall Street, New York.
DEPOSITS received and interest allowed at best
Current Rates.
GOVERNMENT and STATE SECURITIES, GOLD,
RAILROAD BONDS, STOCKS, etc., bought and
Sold on Commission.
ADVANCES made upon approved Securities.
COLLECTIONS made, and Loans Negotiated.
EUROPE
AND
BANKER
EXCHANGE,
BROKER,
BA
Particular attention paid to
the purchase and sale
N K E R
S,
Street, New York,
ISSUES OF
DEALERS IN ALL
SECURITIES
GOVERNMENT
Stocks, Bonds, Gold and Exchange,
SUBJECT TO SIGHT DRAF
And Four Per Cent Interest allowed on Dally
Co..
8c
Noe. 16 A 18 Nassau
STREET, NEW YORK.
WALL
GOLD AND
Balances.
especial
hare
attention.
Collections mada on all
GOLD COUPONS,
BUY AND SELL ON
RAILWAY
Southern Points.
GOLD,
DRAW at
Credit
Interest on Deposits,
Sight or Sixty Days on PARIS,
Bills at Sight or Sixty Days, od
Sterling
Wm.G. Ward.
Henry H. Ward.
> , 0NDON
& CO. $
Accounts received and interest allowed on same.
Stocks and Bonds bought and sold at the New York
THE CITY BANK
Messrs. ROBERT BENSON
Stock Exchange.
No, 56
54 WALL STREET,
NEW YORK.
Established 1820.
Orders in Stocks. Bonds, Gold and
Government Se¬
promptly filled at usual Tates. Foreign Ex*
change negotiated. Draw Bills on the
UNION BANK OF LONDON.
Deposits in Gold and Currency received andinte*
curities
rest
allowed
on
everywhere in
States, Canada and
Collections made
United
Europe.
Dividends and
Coupons collected.
Warren Kidder
8c Co.,
JANKERS,
NO. 4 WALL STREET. NEW YORK.
Orders for Stocks Bonds sndGbld promptlyexe¬
cuted. FOUR PER CENT INTEREST ALLOWED
on
depot..* subject f fhtskst
Mgfct.
balances exceeding $1,000.
John J. Cisco 8c Son,
BANKERS,
NO.
tbe^rpad
Books will close on the 8lst Inst., and reopen on the
17th of January next.
M. K. JESUP, Pres’t.
59
WALL STREET, NEW
YORK,
liable. Persons of either
$5 per evening, and a promen.
That all who see this notice may send their
address and test the business, we make this unparal¬
leled offer: To such as are not well satisfied, we will
send f 1 to pay for the trouble of writing. Fun par¬
ticulars, a valuable sample, which will do to coma copy of
“
““
'
;
per annum, credited monthly.
Certificates of Deposit bearing four cent in
terest, payable on demand or at fixed periods.
Negotiate Loans.
Execute promptly orders for the purchase and sale
of Gold, Government and other Securities on com¬
Issue
G.
Addison Cammack
J. t/BBORN.
8c
Osborn
Cammack,
BANKERS,
84 BROAD STREET.
^
the lari
flit oan
.T.ifysa;
Stocks, State Bonds, Gold and Federal
Securities,
BOUGHT AND SOLD ON
Lewis Benjamin, whose interest In our Liver
pool house will cease from and after this date, Mr.
Benjamin will alone Ufa in liquidation, and hereafter
conduct the business In New York under his own firm
made for hls account.
—AARON WOLF,
}
ABRAHAM Hofrf'NUKG,
T,
} LlvtrP°o1-
1 RESPECTFULLY SOLICIT FROM THE
FRIENDS
AT
Tapscott, Bros, 8c Co.
*6 SOUTH
ls«ue
STREET, NEW YORK.
Sight Draft* and Exchange payable In all
parte of Great Britain and Ireland.
Credit* or W. TAPSCOTT 6 CO^ Liverpool. Ad
vamees made on consignments. Orders for Govern
ment Stocks, Bond! and
Union Adams 8c
FOR
Merchandize executed.
Co.
GENTLEMEN
Patent Merino Shirts.
Patent Merino Drawer*.
Scarlet Cashmere
Shirts.
Scarlet Cashmere Drawers,
Cloth and Back Gloves. '
Scarfs and Ties.
COMMISSION.
Particular Attention paid to invest¬
ments in Southern State Bonds.
to Mr.
Extremely Low Prices
(Brown Brothers & Co.’s Building,)
mission.
Make collections on all parts of the United States
and Canada.
Kailroad, State, City and other
Corporate Loans negotiated.
Dry Goods.
Dubuqae and Sioux City B.R. Co. have declared a
Semi-Annual Dividend of FOUR (4) PER CENT on
the common stock, oat of the jearnings of
(1)
for the last six months; also, a Dividend of
Q.
.
Banking Accounts may be
opened with us upon the same con¬
ditions ns Currency Accounts.
Chas. H.Wabd,
BANKERS,
Miscellaneous
’
sion.
market
Co.,
Ward 8c
RAILROAD LOANS NEGOTIATED
James Robb, King 8c Co.,
Wall Street.
buy, sell and exchange all
Bonds at cur¬
prices, also Coin and
Coupons, and execute orders for the
purchase and sale of Gold and all
first-class Securities, on commis¬
rent
the
TRAVELLERS,
FOR
times,
We
ADVANCES.
MAKING LIBERAL
of
COMMISSION
STOCKS, BONDS AND
CIRCULAR
Letters
on approved collaterals,
at market rates of interest.
all
Gold
AND IN
DEPOSITS RECEIVED
Securities
Dealers,
issues of Government
Worthington,
N.
Co.
Bliss 8c
Morton,
of the United
States.
at
ISSUED BY
Vermilye
MEMBER M. T. STOCK
bearing interest at current rate, and
Advances made to our
COMMERCIAL CREDITS,
_
Southern
with National Banks.
Certificates of Deposit issued, pay¬
able on demand or at fixed date,
ALSO,
BANKERS,
14
Daily
Balances of Currency or Gold.
Persons depositing with us can
check at sight in the same manner
available in all parts
TRAVELERS,
AVAILABLEHIN ALL PARTS OF
W.
all
on
as
chase and sale of
WILLIAM
allowed
Interest
EXCHANGE ON
S.SOHN &
32 WALL STREET.
liberal
SON, London.
JAMES W. TUCKER &
GOVERNMENT BONDS,
on
terms.
B. METZLER
l6snes oi
and Bonds of LAKE SUPERIOR AND
RAILROAD COMPANY, and execute orders
YORK,
Exchanges in both Cities.
Receive Accounts of Banks and Bankers
YORK
STREET, NEW
WALL
2 0
We Bay,
PHILADELPHIA AND NEW
FOR YOUTH.
hlrts and Collars.
Kid and Buck Gloves,
Patent Merino * hlrts.
Patent Merino Drawers.
J
Cardigan Jackets.
Woolen Hosiery.
No.
637
Broadway.
|
*
THE
5GCemlj$r 11,
\
.
First
CentiGold Bonds
Notices.
OPINIONS
Mortgage
Convertible
Of She
Commercial & Financial
Sinking Fund
"■
Gold Bonds
WESTERN PACIFIC R. R. COMFY
CALIFORNIA.
OF
r Press
SEVEN PER CENT
First mortgage
t
op the
739
Financial.
Financial.
6 Per
CHRONICLE.
Chronicle,
OF TIIE
Prom the
Danville, Urbana. Bloomington
Fekin Railroad
Pacific Railroad connecting Sacra-
The Western
with San Francisco, famishes the final link in
extraordinary fact of an unbroken line of rail
*
and
Boston Post.
Company
mento
the
shore of the Atlantic to that of the Pacific.
from the
Itis
Principal unu interest Payable in i*oia at the Far.
mers’ Loan and Trust Company, New York.
Coupons payable First of April and
130miles In length,Including a;short branch,
and it will be
Tfi£ UOHXSRCIAL
OFilLLINOIS,
the
October
Line
astonishing. It mut
exactly of the great class of Ameri¬
cas merchants.
The monetary and business articles
ta this publication are well
worthy the attention of
thinking
Free of Government Tax
COAST,
Total Issue
,of the rieh
-
-
and growing State of California, receiving
In addition to an
immense and lucrative local traffic,
-
-
$2,00l>,000
$3,000,000
Pacific Railroads—between the Eastern States and
Length and Topography.
completed, fully equipped, and in successful
It is
ooeratlon, and its earnings in October, the first fall
month, amounted to $105,000 in
Tlic road Is 117 5-100 miles in length, the only East
connecting the Cities of Danville, Ur¬
bana, Bloomington and Pekin on the line of the old
Emigrant Road. This section has been justly named
the Garden of the "West, and is noted for its
coin. The net earn¬
estimate, amount to $600,000
in coin, while the interest on its bonds
annum,
than
valuable mines of coal. The local business will make
the line a FIRST CLASS PAYING ROAD.
and franchises is not less
v
Vain able Connections.
Ten Millions of
and the amount oi the mortgage
Dollars,
~
Chicago Tribune.
This Is one of the very best commercial andflnandal weekly journals published in the United
Stated
md
no
In addition the Company provide fora
large through
business, having as MANY VALUABLE CONNEC¬
Is
.
each, have thirty years to
and will be sold at
Ninety, and Accrued Interest,
TIONS EAST AND WEST AS ANY ROAD now in
The line has lately been consolidated with
the Indianapolis and Danville Road,
making over 200
miles under one management.
At Indianapolis it connects with the Pennsylvania
Central, Baltimore and Ohio, also with several other
lines at Danville, with the Toledo, Wabash and West¬
ern, and at Pekin with Peoria, making a new through
direct route to Illinois, connecting Philadelphia, New
York, Boston and Baltimore with Peoria, Keokuk,
Burlington, Omaha and the far West.
an extensive business
It is ably edited, and coaaine valuable article* on nearly all the
leadins
asocial tud commercial topics of the day.
York.
The
Coupons due January and July 1.
approach of the time when the United
near
States c n
probably innd the greater portion of its
Six per cent
debt, as Indicated in the late Message of
with the
same rate
of interest.
THE
WESTERN
PACIFIC RAILROAD FIRST MORTGAGE BONDS
must have
an
immense advantage over all
other
securities based upon merely local or uncompleted
1
...railroad, and
may be hi Id with as much confldonceas
Government bonds, or
New York City
as
first-class mortgages on
property.
The loan is small In amount.
dence
are
apparent.
will be delivered
Government
value in
as
Its claims to confi¬
It will be rapidly taken. Bonds
the orders are received.
exchange*
Fisk
& 5
Hatch,
BANKERS.
We
buy and aell Government Bondi and
account* of
‘
receive the
Banks, Banker*, Corporation*, and oth*r»,
subject to check at light, and allow Interest
'lalanoes.
on
daliy
meats of the business of the
country, in all its
branches, and its editorials are among the beat upon
the class of subjects to which it is especiaUy devoted.
It is worth
toWny business
man tenfold more than
The bonds average LESS THAN EIGHTEEN
THOUSAND DOLLARS PER MILE, are CONVERTI¬
BLE INTO STOCK AT PAR, at the option of the
holder, at
any time, and may
of the owner if desired.
be registered in the
St. Louis
To
Dispatch.
sdy that the Chronicli
is the very best com¬
mercial and financial paper published
in the country
would be only to reiterate what has
already been
*aid by half the leading papers of the
country. The
Profit of tlie Investment.
Chronicle is filled with valuable and
lntereatisg
matter, and it ahould find a place in every countine
room.
Missouri
name
The stocks of several of the principal lines of Illinois
selling at from above par to nearly 200. There is a
reasonable prospect of the stock of this road, at no
distant day, selling as high as either of them, which
makes the convertible clause a valuable option.
We have PERSONALLY EXAMINED THE ROAD,
and consider the bonds a CHOICE SECURITY we
therefore take pleasure in recommendiug them to in¬
are
vestors as
Bonds received at their fall market
Thla weekly journal is an able representative of
the commercial and financial interests of the Unitei
States. It presents clear and woll-written state
■UPr
The road is being rapidly constructed, all graded
and bridged, the track laying at the rate of one mile
per day, all the iron and a large amount of rolling
stock provided.
The whole road WILL BE COM¬
PLETED BEFORE THE 1ST OF JANUARY NEXT.
the President and the
Report of the Secretary of the
Treasury, Is naturally causing Inquiry for other forms
of investment, which will afford satisfactory
security
Ohio Statesman.
Its cost.
Completion of ibe Road.
TU°y are made payable, PRINCIPAL
INTEREST, IN GOLD COIN, in the City ol New
In currency.
AND
merchant who does
mght to be without it.
$2,800,000.
run
no
•rally.
operation.
The bonds are of $1,000
and Tinakosax
hesitancy in pronouncing
authentic and trustworthy
com¬
We have
paper* published In the
country, and eminently worthy of the
high esteem
it h*s secured
among merchants and financiers
agricultural and manufacturing products, also for its
The valne of the property
Democrat.^
The New York Commercial
large
will be but $168,000.
*
Louisville
It one of the most
mercial and financial
and West line
ings will, by a moderate
iper
of reference for bankers and merchant*.
Chronicle.
Sacramento.
r
The Commercial and Financial Chbobols if
replete with a large amount of information
finan¬
cial and commercial topics, forming a valuable book
The Bonds are a first mortgage on the
railway, its
rolling stock, depots, machine shops, lands, and the
entire property of the Company
through business over the Union and Central
the
-
Capital Stock-
connecting Its chief cities, and traversing the garden
men.
Philadelphia Inquirer.
OP THE
PACIFIC
FINANCIAL CMRONieLI.—
meet the want*
eur
Metropolitan
AND
tYe have bslcre noticed the issue of
this paper. The
amount of matter Is
simply
can
afford to be without.
who desire to
serving the right to advance the price without notice.
THEY PAY TEN PER CENT in currency
—nearly FIFTY PER CENT MORE THAN THE
SAME AMOUNT INVESTED IN GOVERNMENTS
Gold and all marketable securities received in ex.
change at highest market rates. Bonds forwarded by
express free of charge.
At this price
We recommend it to ali
keep fully posted in the important
natters of which it treats.
Columbus
SAFE, PROFITABLE AND RELIABLE.
A large portion of the loan has already been sold.
We are authorized to offer them for the present at
95 and accrued interest in c urrency.tlie Company re
Republican. (J
The Chronicle is the best financial and
Commer¬
cial paper issued in this
country, and contains mat¬
ter that that no banker, broker or
commercial mam
*•
-
The
Journal.
A
Chronicle is devoted to the interests of rail¬
way and insurance men, merchant* and
contains the most
industrial, commercial and financial matters publish¬
ed in the United States.
TERMS OF
SUBSCRIPTION,
For One
TIJRNSR BROTHERS,
BANKERS,
bankers, and
complete and valuable resume of
-
-
-
For Six
-
-
-
Year,
Mon; hs,
;
.
$10 00
•
6 00
WILLIAM 45. DANA Me COM
No. 14 Nft***u-»t., New York
#
Publishers,
WU1U*
XoA
THE CHRONICLE.
740
EIGHT
[December 10, 1869,
CENT.
PER
GOLD
FIRST MORTGAGE BONDS
•
OF THE ISSUE OF
#1,500,000
BY THE
St.
Joseph and Denver City Railroad Co.
In denominations of
Eight
per
Cent,
$1,000 and $500, bearing
per annum
PAYABLE IN
Interest,
GOLD,
On the 15th of
February and August, in each year, in New York, London, or Frankfort-on-theMain, at the holder’s option, free of U. S. Taxes. The interest for six months on $1,000 Bond
is payable as follows:
In New
York,
In London,—-
>
$40 Gold.
£8 4s 4d
In Frankfort-on-the-Main—lOO Florins.
On
a
#500 Bond one-half these amounts, respectively.
These Bonds have
thirty years to run from August 14, 1869,
payable at maturity in gold, in the City of New York. Are
Coupon Bonds, but can be registered, or converted into Regis¬
tered Bonds.
Lands
First Mortgage
Bonds to be valid must be
Loan and Trust Company.
The rate per
mile of
a
countersigned by the Farmer’s
this amount.
This line is mainly the extension of the Hannibal and St.
Joseph Railroad, with its connections North and East, and the
St. Louis and St. Joseph Railroad, with its connections South
and East, both lines converging at St.
Joseph, and connecting
at once with the St. Joseph and
Denver City Railroad
running West through Eastern Kansas into the heart of
Nebraska, where it connects with the Union Pacific Railroad
at the City of Fort Kearney, making
the shortest route known
to California, and the Pacific States.
The
Company’s Capital Stock is $10,000,000, to which nearly
$2,000,000 is subscribed and paid up by local subscriptions,
which amount has been and is being
expended on the road.
The Company have 1,600,000 acres of superior
lands, immedi¬
ately adjoining the line, which was a grant from the United
States Government, the alternate sections of which are
selling
for $2 50 per acre, cash. At this low
price, the Company have
an asset
of value in
-
$4,000,000
1,500,000
10,000,000
—$15,500,000
271 Miles.
while the
only debt against the Cempany is this issue of 1st
Mortgage Bonds, amounting to $1,500,000, all that can be
issued.
A large portion of the road West from St. Joseph is now in
successful operation, showing earnings, )&er mile, sufficient to
meet the interest liabilities on this loan.
A Branch Company is building a line from this road to the
Kansas Pacific Road, thereby giving a direct route to Denver
City.
We
are
Bonds at
served
authorized to offer these 8 per cent. First Mortgage
97>£ and accrued interest in currency, with the re¬
right to advance the price without notice.
Pamphlets,
maps, and information furnished on application.
Bonds sent and packages received free of express charges, and
marketable securities converted without commission to parties
investing in these Bonds.
W. P. CONVERSE & CO.,
completed road, which is mortgaged to
these bonds at their par
value, is $13,500, while the
actual cost of construction and equipment is more than double
secure
-
Total Resources
Total Length of Road- - -
of the
This Mortgage is executed to the Farmer’s Loan and Trust
Company as Trustees. At the same time the whole issue of
$1,500,000 bonds have been executed by the Railroad Com¬
pany, placed in the custody of the Trustees, who have absolute
possession, and can only issue themy or their proceeds, in accor¬
dance with the terms of the Mortgage Deed, which is upon a
completed road, and then only at the rate of $12,000 per mile.
Bonds
Capital Stock
They
are secured by a first and only mortgage, on 111 miles
Company’s Road, from St. Joseph, Mo., to Marysville,
Kansas, known as the Eastern Division of the Company’s main
line, which runs from St. Joseph to Fort Kearney, on the Union
Pacific Road, including the Company’s equipments, rolling
stock, now owned, or hereafter possessed, rights of way, fran¬
chises, real estate, and personal property in Doniphan, Brown,
Nemaha, and Marshall Counties, Kansas, now owned or which
the Company may acquire by reason of the extension of their
line to the City of Marysville.
-
COMMERCIAL AGENTS.
54
FINE
STREET,
TANNER &
FISCAL
49
WALL
NEW
YORK
CO.,
AGENTS,
STREET,
NEW
YORK
Having had all the papers and documents relating to this
examined by competent counsel, and prounced complete and
cient, and having personally examined the same, which we
loan
suffi*
find
regular and perfect, and having our own engineers examine the
road and property, whose reports are satisfactory, we do,
with the
utmost confidence and satisfaction, recommend the EIGHT PER
CENT 'FIRST
MORTGAGE GOLD BONDS OF THE
ST. JOSEPH AND DENVER CITY RAILROAD COM¬
PANY as a SAFE, SUbE AND PROFITABLE INVEST¬
MENT, worthy the attention of capitalists, investors and other?.
W. P. CONVERSE & CO.,
TAfcNER &
CO.
’'THE
l
*
& fUmanqa
ommfrriaj
J v-'
m
gante’ tadfc, (towemat
\
§Mwatj fgtouitiw, anil fnsurame
WEEKLY
Journal
NEWSPAPER,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL
INTERESTS Ob THE UNITED STATES
VOL. 9.
SATURDAY, DECEMBER 11, 1869.
CONTENT8.
The President and
Mroad
Tbecheeapeahe<6ohu?RanVoflrt 743
~A New
Route to ihe West...
7«
proceedings of Congress. These recommendations have
^ ^^erenfc aspects; and address themselves first to the
La(5e“^M?I!|t,'rra“^Commercial 744 ^reDcy, secondly to the management of the debt, and
0°™“K®cia]eana Hiseeiianeons 784 Uon- J *° to consolidation and reduction of the federal taxa_lr A9 each of these topics the President offers sugges766
OnrFinances^ W^LDanar^*
Earning? for November 743
te
NO. 238.
*•
t1'°nS wk'ck are some of them novel, while nearly all are
NatfionaniB'ank181lePhiaBailk‘
«•!*&'c£&&ig£g& 763 f681'0® General Grant is extremely conservative. An irreSonthemsecarttiea.Hi] 01,8 8ond Ustdeemable currency, he says, is an evil, and the paramount
™.B. C.°M TCsfSita
uties and prerogatives of government demand that a comTobacU'::::;;;;
TO? Dry Goods
?$> of exchange of fixed value. shall enjoysecuring of a this end
”!elcm pe0ple like ourselves As the the use of medium
SS
(fthrrtnrrU
requires a specie basis, and as no substitute for it can be
Commercial
©vised, we should at once begin to lay a foundation for speiaymorningbyt}ieVublisher, ofHun^M^M?MySa^r' ** payments> snd sh°»M do this at the earliest practical
midnight o/Fr£
“"““l COD8,8tent with the interests of the debtor
“f‘ S“ch are the fundamental principles laid down
,?“»««». delivered by i
'D 6 “e8sage. This policy it will be seen, strikes a middle
WS5w er etwe» ‘be two extreme views now agitating the finanMoner
Market, Balbmv
stock^BTTE iAND RAILWAY M0NIT011-
# de6tined 800ner or later to be adopted. On the currency
Commercial Epitome...
—
The
and
Wh the latest
Finanptat n
news
.
uv to
TEEMS OF StTBSCBIPTIOM—PATAnrir
r«
°r
-
0q
'^ii'^iddiicokun^kbv J.J*>
^
^EiTAlf B. DANA,
b.
JOHH 9.
FLOYD, JB.
)
J
WILLIAM B. DANA A OO., Pnbllihen,
79 and 81 William Street, NEW
YORK
m,
It opposes on the one side those theorists who
,
seek to leap at one bound to specie payments, and would
the
thus let loose upon
country a torrent of evils, whose pro¬
to measure; and on the other
g
side the President’s views are
Remittances should
equally fatal to the schemes of
invariably be made by drafts or Post
t ose enthusiasts of
Office Money Orders.
inflation, who would expand irredeemable
currency still further, and make it a perpetual curse to the
A SUPPLEMENT.
country. It is impossible to surpass the vivid distinctness
It is
For the
—LL
L!.l
purpose of furnishing our subscribers
with which the President
lays down the tundame
with,.
valuable reports of the
Secretaiy of the Treasury, the omp- finance on this point. “Immediate
digious extent it is impossible
.
^Post Office Box 4,593.
—
——..
V
«v
ii
r»
vm^ distiu^^
.....
resumption, if Praotlc '
It would compel, the
y
Revenue, in such a form that they may be preserved wi
^
beyond tbeir contracts the premium on
file of the
Chronicle, we issue to-day a Supplement of eig e g ^ ^ date of their purcbase> and would bring bankruptpages. These important
reports are often wanted for re e
J ^ ^ t0 thousaads>
Fluctuation, however, in the paences and our
readers will find it
^ meas)ire o{ al, valueS) gold, is detrimental to
exceedingly usefnl to h
P
■
^ .1 Ih. ,1..,. w b..a I. th. .olum. oft.
trade
Cm,It makes
the
man
of
holler of the
Currency and the
Commissioner of Interns
»
he
would
not
be desirable.
_
0»v
CL1-
THE PRESIDENT AND OCR FINANCES.
An unusual amount of
the financial
•
CT„bW.
.11
u
»u.
Where
future
payment is to be made both parties
speculate as to what will be the «l«o *
public interest has been excited by paid,” and he «mdude.
part of the President’s Message, which has just as wil insure a
been presented to
Congress. The accompanying reports of immediate stop to
the
Secretary of the Treasury and of the Comptroller of t e An ere comes
Currency provoke less discussion, but on account of t eir
dent s sc eme.
importance for reference, we print them in full in our
supple- too numerous and too
meat
to-day. The changes of policy which these two reports notice But
suggest are considerable, and we shall leave them for future
rency e "*ar 8 “
consideration. Most of these
proposed changes we are sure realize it
two
p P
Congress will be slow to adopt, while some of them will
pro- Tents.
ese
e exp a
bably be lost sight of altogether. The ^ is otherwise,
«
J' ™
-
suchTe^slation
nt8 and
put
g-d"n
^^t noteworthy part curacy”Presiof the
bthe
-e payments
„
v^ue
^
7^“
however, with
or
three
the methods
an
,
are
di9misses them without
^
cur.
0f
accomplishment. To
cirapie and effective expe-
follows:
authorize the
Treasury to re^
wbenever
=ted, andm
^^idfrorn
to appear in | again for gold, cir^ula^% regoui-coaoTtUeuatiou, both developed
ne
the recommendations of the President’s Mes*
sage, the influence of which has
already begun
lue of
^
undeveloped, ought to make our credit the best on earth, with
than the citizen has endured for six
years past. The entire public debt could be paid in ten years; but
it is not desirable that the people should be taxed to pay it in that
time.
Year by year, the ability to pay it increases in a rapid
ratio.
But the burden of interest ought be reduced as rapidly as
The public debt is
can be done without the violation of contract.
represented, in a great part, by bonds having from five to twenty,
and from ten to forty years to xun, bearing interest at the rate of
six per cent, and five per cent respectively.
It is optional with
the Government to pay these bonds at any period after the expira¬
tion of the last time mentioned upon their face.
The time has
already expired when a great part of them may be taken up, and
is rapidly approaching when all may be.
It is believed that all
which are now due may be replaced by bonds bearing a rate of
interest not exceeding four and one half per cent, and as rapidly as
the remainder becomes due, that they may be reduced in the same
way.
To accomplish this it may be necessary to authorize the
interest to be paid at either of the three or four of the money cen¬
tres of Europe, or by any Assistant Treasurer of the United
States, at the option of the holder of the bond. I suggest this
subject for the consideration of Congress, and also simultaneously
with this the propriety of redeeming our currency as before sug
gested at its market value at the time its law goes into effect, in
creasing the sale at which currency will be bought and sold from
day to day or from week to week, at the same rate of interest as
Government pays upon its bonds.
and
a
[December 11, 1869.
THE3 CHRONICLE.
742
less burden of taxation
the payment of two thousand five hundred dollars. The exaot terms of the dividend
have not as yet been announced, but we believe they will b«
substantially as above, and the money *thus obtained will be
shares additional will be issued
on
branch road of 112
which will be
built by the Company
the directors think will be a very valuable
enterprise. Of course with this dividend of
used for
building
miles in length
a
for cash nd
addition to the
stock there is to
be the usual cash dividend of 5 per cent, payable in
March. Since the meeting of Jhe directors agreeing upon
this dividend we have received numerous inquiries respecting
the present condition of the road, and have, therefore, pre¬
pared the following for the information of our readers.
According to the last Annual Report, the Capital, Stock,
and Funded Debt of the Corporation are represented as fol¬
lows
:
.
$5,141,800
Common Stock
2,425,400— $7,567,200
Prefered Stock
P' eferred Sinking Fund
First Mortgage Bonds
Income Bonds
402,000
2,400,000
Bonds
1,100,000 - 3,902,000
.
The
plan here proposed has been submitted to very anx
$11,4695
in Wall street, and though the first effect was to
The Chicago &'Alton Company, on 1st January, 1864,
stop the fall in gold and to give it a slight upward impulse, assumed the liability to pay interest and dividends on the
still the details of the scheme are not sufficiently full to
bonds and stock of the Joliet & Chicago R. R., as below;
enable us to form a precise notion of its probable effect Mortgage Bonds eit ht per cent, on
$500,000
Stock seven per cent on
1*600,000
What is particularly dubious about it is : First, the con
and acquired by lease in 1868, possession in perpetuity
ditions under which the redeemed greenbacks would be
of tlie St. Louis, Jacksonville & Chicago Railroad, at a min¬
“sold for gold,” and secondly, the constriction of business
imum rental of $240,000.
which might be produced by the contracting and locking upo
The charges on the property may therefore be stated as
the greenback circulation. These and other points are dis¬
follows :
cussed with no small anxiety, and the most divergent opinions Preferred
$72,000
Sinking Bonds
First Mortgage,
.... 168,000 v,
respecting them. This scheme is regarded with the Income Bonds say
prevail
,TJ[»000 *1
Joliet and C icago lease
160,440
more interest as it is rather novel, although projects some¬
St. Lcuis, Joliet and Chicago lease
(Minimum rental)
240,000
what resembling it have several times been offered to Con¬
"$W40
gress without securing much attention.
Including Sinking Fund payments and Government tax
As to taxation, the President contents himself with recom¬
the financial condition for 1808 may be stated as follows:
mending the postponement of all reduction of taxes until we Balance to the credit of Income account
28
have reduced the principal of our debt sufficiently to enable Net receipts.... '
2,0*5,460 88
us to negotiate a new loan at 4 or 4£ per cent.
3,989,812 61
He admits,
Disbursement as per the Annual Report....
$1,986145 24
however, that it may be needful to reduce the iucome tax to
$984,667 37
3 per cent, and to modify other taxation and tariff duties in
Included in the above disbursements was an amount of
case of unjust or burdensome restrictions.
When the debt
is funded, the President thinks that the taxes can be reduced $635,766 07, being “ Cost* of Improvements charged this
account,” so that in addition to
from sixty to eighty millions of dollars a year.
Here then Balance at credit Income account
^
W?66 07
we
have a fine comprehension of general principles of Can be added
$1,560,118 85
policy sketched out for the consideration of Congress Total net profits
The earnings for 1869, as reported have been •
and
of
the people.
First, there are to be no
5*
January 1 to November 30, passengers
rude, rash experiments with the currency ; but well
:
b?!?:::::::::::;:::::::-:::.:::::::
ious
canvass
..
'
„.
.. •..
directed
efforts
are
to
be
made
to
preserve
gjgjj
our green¬
$4,346,883 11
backs from mischievous fluctuations in value.
861,700 00
Secondly, we December earnings estimated....
are to
Total earnings 1869
keep our national credit good by a rigorous collection
$4,708,588 11
of the revenue and by sustaining the income of the Treasury Showing an increase in earnings for 1869, of about $200,000.
so as to secure a
surplus of money with which to pay off
Assuming the fixed charges and operating ^expenses to be
the same, we have the following result:
large annual instalments of our bonds. Thirdly, we are to
receipts........
lessen the pressure of the debt by negotiating a loan as soon G
Sis 182 64
Expense—same as last year.
as
possible at 4 or 4J per cent. Fourthly, to pay off as early
|3,S«,403 «
717,440^
as
possible all the bonds of 1862 and 1864, which are already Less fixed charges
$15^ 47
liable to redemption under the law by which they were nego¬
Commo stock
2,425,4W0
$5,141,800
tiated. What may’ be the ultimate fate of these suggestions* Pre. erred stock
$7,587,900
m
and how far they may be adopted by Congress, is uncertain*
10 per cent $756,720 00 and 5 per cent tax $37,838
What is certain is that they have produced a reassuring effect
Surplus
-> $T!38»409 00
on the public credit.
Now let us see how the case will stand after this 50 per
oss
n
^
,
CHICAGO AND ALTON RAILROAD.
During the past week a dividend has been agreed upon by
Chicago and Alton Railroad Company of
fifty per cent, of the present par value of the stock on the pay¬
ment by the shareholder to the Company of about fifty per
cent, addition to the stock:
the directors of the
the dollar of the
cent,
on
any
holder of
oue
new
stock issued: that is to say, to
hundred shares of the old stock, fifty
.
*So
The present stock amounts to
Add 50 per cent in common stock
Total stock is*ue
’.
-
Assuming amount on hand, after payment of fixed charges
Stfft (1 ftbOV6t««f
It will be seen that after
R8
••
•«••••••*••«.
#
• « • • f • • •
payment of 10 per cent on the
capital, which would be.....„
Total dividend....
„
Balance remaining on hand.~
*
-v$ll»850,800 00
to be
K<yy
m
*#«•••
increased
$U85,(kO
...SUM,884 00
386,181 90
We thus see
EARNINGS FROM JANUARY
that after paying 10 per cent, dividend on
increased capital and all the fixed charges against
the Comyany, there will still be a be a surplus of $336,131
the
743
THE CHRONICLE.
December 11, 1869.J
present
the credit of income account.
It should also be stated that these figures are based upon
the business of
present lint\ They show that if we take
the road as it now stands, it can pay more than 10 per cent,
to
.
.
1
TO DECEMBER
1869.
.
1868.
1.
Lake Shore and Michigan
Marietta and Cincinnati
Dec.
Inc.
Chicago and Alton
$4,830,085 $4,146,997 $183,088
Chicago and Northwestern
12,547,693 18,890,535 157,158
Chicago, Rock Island and Pacific.
4,888,909 4,872,028 514,881
Clev., Col, Cin. and Indianapolis.
3,873,841 2,688.281 185,063
Illinois Central
7,854,711 7,140,273 714,438
Southern 11,870,088 11,087,882
1,281,193 1,172,687
4,179,143
195,478
2,660,647
1,844,867
2,72',173
1,767,882
.....
782,256
108,506
4,374,621
$
77,505
Michigan Central
Milwaukee and St. Paul
Ohio and Mississippi
St. Louis, Alton ana Terre
6,668,190
Haute.
6,048,765
604,425
60,581
$61,177,848 $57,715,081$3,422,798
$60,531
the increased stock.
Of course there Total
will be a contribution to the earnings of the road, from
the business of the new line of 112 miles, which is to be built THE CHESAPEAKE AND OHIO RAILROAD—A NEW ROUTE TO
THE WEST.
with the money paid in for the new issue of stock. The
A railroad from the port of Norfolk, on the Atlantic coast, to
directors claim that the new line will earn its own 10 per
the nearest practicable point on the Ohio River, has long been
cent, dividend on cost, and increase the traffic on the main line.
contemplated as a favorite project by capitalists in this country
The road and branches will be 544 miles in length.
dividends upon
England. Much progress has in fact been made already
completing the proposed line, as the Chesapeake and Ohio
Railroad (formerly the Virginia Central), extends now from Rich¬
mond, Va, to White Sulphur Springs, Va., a distance of 227
miles. The completion of the line through to the Ohio River has
been commenced at different times, both previous to and 9ince the
war, but the work has each time been discontinued , from various
causes not particularly affecting the present subject, except that it
was never stopped from any impracticability of the route.
At a recent meeting of the stockholders of the Chesapeake and
Ohio Railroad, a contract was ratified with certain prominent New
York capitalists, under which the road is to be completed to the
Ohio River without unnecessary delay, and the names of the contract¬
ing parties furnish a guaranty in themselves that jf undertaken
by them it will in all probability be carried through. The con¬
tract entered into is to complete and equip the road to the Ohio
River at the mouth of the Big Sandy at a cost of $15,000,000—
$10,000,000 for construction and $5,000,000 for equipment; dis¬
tance fo bejbuilt, 200 mres.
and in
RAILROAD EARNINGS FOR NOVEMBER AND FROM JAN. 1, TO
DECEMBER 1.
The returns of Railroad Traffic for
are
the month of November
generally favorable, most of the roads showing a consider¬
able increase over the same month in 1868 as we
in the Chronicle of
continued
anticipated
November 13th.
the leading Western
Roads has had the natural result of inspiring confidence in
their stocks, and has done much to assist in placing financial
affairs upon a healthyjbasis again, after the ruinous gold panic
of September last. The most conspicuous line for large in¬
crease in earnings last month
was the Milwaukee and St.
Paul, the total earnings being $801,163, and the increase over
the same month in 1868 nearly a quarter million dollars.
The Chicago and Northwestern shows an inorese of $36,946,
Chicago and Rock Island $51,011, Lake Shore and Michigan
Southern $61,313, Ohio and Mississippi $23,391, and other
roads a similar improvement.
The
large business
on
1869.
Central Pacific
(gold)..
Chicago and Alton
Chicago and Northwestern
Chicago, Rock Island and Pacific
Cleveland and Pittsburg
Clev., Columbus, Cin. and Indianapolis
Illinois Central
Labe Shore and Michigan Southern...
Marietta and Cincinnati
Michigan Central
Milwaukee and St. Paul
North Missouri.
Ohio and
Mississippi
St, Louis, Alton and Terre Haute
Total
532,000
403,691
1,144,029
475,600
219,735
271,655
1863.
Inc.
5,877
409,568
1,107,033
424,589
19^,987
30,996
51,011
28,448
8,757
125,523
61,313
11,850
298,027
262,798
699,532
1,063,432
119,169
410,825
556,917
112,340
274,616
183,148
175,379
12,769
825,055
-
Dec.
1,124,745
131,019
448,419
801,163
248 438
37,594
244,246
186,099
23,391
towards
As this line, when finished, will form a new trunk route from
Atlantic coast to the Westefu Slates, it is worth while to inq
into the traffic and earnings of the old established lines, and
prospect of the new route for commanding a share of our immense
Eist and West business.
Th re are now four great
trunk lines of railroad between the
seaports of the Atlantic coast
and the Upper Mississippi Yalley.
(1) The New York Central and Lake Shore (2) The Erie and
Atlantic and Great Western (3) The Pennsylvania Central. (4)
Each of these ha3 its interlocking
i’he Baltimore and Ohio.
branches and extensions, but practicilly they constitute the four
through lines connecting the Ohio Yalley with the great centres of
population at the East. It is instructive to note to what dimen¬
sions the tonnage of these several trunk lines has grown. The in¬
crease in five years is shown in the following:
$7,111,324 $5,807,255 $777,945 $5,877
N. Y. Central,
tone.
The prospects
for December would seem to be, that the
earnings will be about the same as those of the corresponding
month last year. December is usually one of the dullest
months of the year, and as the traffic is comparatively small
at best, no important increase or decrease should be shown.
As eleven months of the year 1869 have now passed it is
easy to determine very nearly what the earnings of the whole
year will be, and to compare them with the earnings of
previous years. This comparison is very favorable to nearly
all the roads embraced in the succeeding table, and shows
that a very steady, and in some cases remarkable, progress
has been made in traffic
during the past four years. If the
year 1866, for instance, be compared with the year 1869 the
differences in earnings will appear most conspicuously. If
such a steady advance should be kept up in the busines of
the roads for the next four
years, it would appear that the
highest prices at which the stocks of these speculative favorites
have ever sold, even in
periods of excitement, would be fully
warranted by the actual value of the several properties. It
is not
probable, however, that such a large and continuous
increase can be realized, and if the year 1870 should be only
as favorable as 1869 has
been, no depreciation in the value of
slocks should be anticipated. The following table will show
the
comparative earnings of the principal lines for eleven
months;
the
.ire
the
1863.
1867
1868..
*
1,449,604
1,667,926
1,846,559
Erie,
tonB.
1,874,634
3,404 546
3,908,243
Pa. Central,
tons.
2,454,076
4,000,538
4,722,015
Balt. & O.
tons
934,378
*1.557,661
1«66,
four roads were, for 1868: New
Erie, $14,376,872; Pennsylvania
Central, $17,233,497; Baltimore and Ohio (1866) $8,698,425 -or a
total of nearly fifty-five millions per annum for the four roads
As yet, railroads cannot successfully compete with vessels for the
transportation of heavy freights over long distance; it becomes
important to secure, therefore, the shortest distances between
navigable waters. A glance at the map will show that ihe westermest limit of tidewater navigation, north of Cape Ilatteras, is
found in the indentations of the Chesapeake Bay, while the eastermost limit of reliable river navigation on the other side of the
Allegbanies i3 on the Ohio River at about the same latitude. The
distance between these points of water transit is about 400 miles,
with a series of favorable passes through the mountain ridges. The
maximum grades along toe Baltimore and Ohio route are 116 feet
to the mile, those along the Pennsylvania Central 90 feet to the
mile, and on the Erie 60 feet to the mile, while oa the Chesapeake
and Ohio the grades are said to be low reaching only 75 feet at one
or two points.
In carrying freight, low grades are of the greatest
importance. It is not difficult to perceive tne several advantages
of location which have a1 traded the attention of prominent capi¬
talists, and induced them to put the enterprise on a new and im¬
proved financial basi?, and to undertake the construction of another
Grand Trunk Line from the seaboard to the west. The region
traversed by the new road between the waters of the James at
Richmond, and those of the Kanahwa and Big Sandy Rivers abounds
ako in the beBt coal.(both anthracite, bituminous and splint), as well
as iron, salt, timber and productive farming la ds, so tb^t the ad¬
vantages of cheap fuel and a considerable local traffic would be ad¬
ded to the others which have been noticed.
The gross earnings of these
York Central, $14,381,303 ;
744
THE CHRONICLE
not relate to the force
department Reports.
REPORT OF THE SECRErARY OF
THE
[December 11, i860.
employed in the Bureau of Engraving
Printing. In March last there were sixty-two special agent*and
jQ
the Department, receiving in the
aggregate for their services S371 lo
TREASURY. per day. Each of these agents mide his reports to
the Depart¬
ment and actecTunder its direct orders.
Treasury Department. Dec. 6. 1869.
T:e
number at present
employed is fifty-four, and their daily pay umounts to $368
85.
report of the The
pay of the agents has
doings and conditions of thi Treasury Department. In thi3 re¬ that more efficient services been increased generally, in the hope
might be obtained. The sea coast, and
port I naturally treat first the matter* of ad ninistratioa and their frontiers of the country have been divided into sixteen
special
measures of public policy.
agency districts, and a superintendent appointed for each.
As¬
The officers in charge of the various bureaus and divisions of the sistants have been appointed and detailed to act under the several
district agents. The orders of the Department are in
all case*
Treasury Department have faithfully performed their duties, and I sent to the
agent in charge of the district, and the reports of hi*
commend their several reports to the consideration of
assistants are made to him* The age t
Congress.
is required to make a
The Treasurer of the United States has
prepared an elaborate monthly report of his own doings, and of the doings of hi*
report setting forth the condition of the Treasury and furnishing a subordinates.
The results thus
far
obtained appear to
resume of the business of the Treasurer’s office from
justify the organization introduced.
1861 to the
Arrangements have been
present term. The long and faithful services of the present Trea¬ ma ’e for the manufacture of paper for the currency and other
obli¬
surer entitle him to the
gations of the Unite 1 States and for the printing of the same, which
gratitude of the country.
The report of the Commissioner of Internal Revenue
i3 re¬ increase the security of the Government against unlawful issues from
spectfully commended to the attention of Congress. Since the ap¬ the genuine plates. Under the eleventh section of an act approved
pointment of the present Commissioner the administration of the June 30,1864, entitled “ An Act to provide ways and means for
office bus been constantly
improving. The increase of receipts for the support of the Government and for other purposes,” a peculiar
the first five months of the
present fiscal year, in the sura of $14,- paper has been designated as the Government paper, and by that
431,333 06 over the amount collected in the first five months of the act it is made a felony for
any person to have or retain in hi* pos¬
last fiscal year, is satisfactory
testimony to the ability and integrity session any similar paper adapted to the making of any obligation
of the persons employed in that branch of the
public service Th or security of the United States, except under the authority of the
amount paid by wa rants for
collecting the revenue from Customs Secretary of the Treasury or some other proper officer of the United
during the fiscal year ending June 30, 1868, was $6,378,385 43 States. Arrangements have been made for the manufacture of
this
and for the year ending June 30, 1869,
85,376,738 13, showing a paper by Messrs. Wilcox & Co., near Philadelphia, and the mill*
decrease of $1,001,647 30. The decrease in the cost
of collecting owned by them, which are exclusively devoted to this purpose, have
the revenue has not been attended
by any loss of efficiency in the been placed under the supervision of the officers of the Government,
service. On the other hand it is believed that the
and such precautions have been taken for the c
means for the
istody of portions of
detection of smuggling are better than ever
the machinery as to render it
b°fore, and that the
improbable that the paper manufac¬
Custom House service is also
constantly improving. It ought to tured can be obtained by dishonest means. It is received by an
be understood that the chief means of
collecting the revenue, and agent of the Government Rationed at the mills, and upon the requi¬
enforcing the Revenue laws, must be found in the administration of sition of the Department it is shipped to the National
the Appraiser’s Dep irtment. The frauds and losses
arising from Bank Note Company, the American Bank Note Company,
actual smuggling are unimportant when
compared with The losses or to the Printing Bureau of the Treasury Department, a*
sustained through the incompetent or dishonest examiners
and ap¬ the case may require.
Arrangements have also been made
praisers. Assuming that honest men may be obtained for these with each of the two Companies mentioned for
important positions at the present salaries, it is yet true that an one set of plate* for eve;y issue of currency preparing
or other
incomp teat apprais r or examiner miy daily subject the Govern¬ obligations. The Engraving and Printing Bureau at Wash¬
ment to losses far
exceeding the amount of his salary. Under ex¬ ington prepares a third set, and each office places an imprint
isting laws certain revenue officers, and other persons appeiring as upon every obligation of the government. Notice of the trans¬
informers are entitled to shares in
mission of paper from the agent at the
mills, and its receipt by each of
fipes, penalties and forfeitures. the
several c fllces of the deliveries therefrom to the
During the fiscal year 1868-69, the Treasury Department distributed
Sealing Bureau in
the
the sum of $286,073 61 to such officers and to
Treasury Department, and also of deliveries to the Treasurer of the
informers in the
United States, is given each
various cases arising under the Customs and Revenue
day by telegram or by letter, and on the
laws. A
following day the accountants in the Treasury Department prepare a
large additional sum was also paid through the internal Revenue
statement showing the
office. The reason on which the laws
granting such allowances tured. In the month of disposition of every sheet of paper mwufacNovember the paper at the mill,'and in each
are
based, is that officers of the Government are stimulated of the several
to
greater activity in
the discovery of frauds and in result compared printing establishments, was carefully counted, and the
bringing offenders to punishment. There can be no doubt an aggregate of with the accounts in the Treasury Department. In
about 7,000,000 of sheets received by the agent at the
that such is the effect of this
policy, hut the experience I have had mills, discrepancies were found to the extent of sixty sheets of frac¬
in the
Treasury Department has convinced me that the evils attend¬ tional currency paper, and for the money value of which the com¬
ing the system are greater than the benefits derived from it. It panies doing the work are responsible. It is believed that these
often occurs that revenue officers are led to assert
claims in behalf arrangements furnish better security than has heretofore existed
of the Government which have no
just foundation in law or in the against the fraudulent issue of currency, or ether obligation* of
facts of the respective cases, and where real claims exist it
the government,
is often
by the use of the original dies or plates, and the
the object of the informer and officers who share in
the penalties to system of the frequent examinations of the several establishments in¬
misrepresent the case to the Government so as t > seen e the greater trusted with the work will disclose at once ar y diecrepancy in the
advantage to themselves. But a more serious evil is found in the accounts. It is not probable that the changes made will diminish the
practice quite general of allowing persons to pursue a fraudulent expense—indeed the cost is greater than it would be if the work in all
its branches were done in the
course until a result is reached which will
Treasury Department. In my judgment,
inure to the benefit of the
however, the additional security is of more consequence to the govern¬
officeis and informers, instead of
checking criminal practices at the ment than the mere economy of
outset.
It is impossible to set forth in exact
money in the expense of
language t e character printing. The marine hospital service of the countryengraving and
of the evils that grow out of the
is, upon the
present system, 1
however, whole, in an unsatisfactory
clearly cf the opinion that the Government onght to rely upon pub¬ erected at points where at condition. Several hospitals have been
present they are not needed, while the great
lic officers for the
proper performance of their duties without stimu¬ commerc al cities like New York,
Philadelphia and Baltimore
lating them by any contingent advantages. I have elsewhere recom¬ hospital for sick and disabled seamen. A careful examination have no
of these
mended an increase of salaries of Custom House
officers, and the institutions has been made by Dr. Stewart, an agent of the Treasury
abolition of the system of
giving to them a share of the fines, penal¬ Department, and by Dr. Billings of the United States army. The
ties and forfeitures will be an additional
reason for the increase of result of these examinations is that several hospitals have not been
salaries in this Department of the
public seivice. It has become a properly managed; that others should be closed, and that hospitals
practice for clerks and other persons who have held office in the Trea¬ should be erected at New York, Baltimore, and Philadelphia. Measures
have already been taken for the sale of the
sury Department to accept employment as agents or
hospitals at several places
attorneys for
parties having claims against the Department; and there is reason to where they are not needed. The hospital at New Orleans is repre¬
sented as
I have the honor to submit herewith the annual
,
bel
that in some instances the information obtained while
in the
public service has been used in aid of the claimants. Without
detailing all the objections to this practice, I respectfully suggest
that a law be passed
Larring yersors from
eve
practicing before the
the
un uitable, from bad location and
other circnmstances. The
War Department is in
possession of suitable hospitals at New Orleans
and New York, which, I am
informed, are no longer needed for the use
of the army.
I respectfully recommend that they be transferred to
the Treasury Department. The revenue-marine
system is an important
and expensive branch of the customs-revenue
Treasury Department as agents or attorneys in behalf of claims
that were pending when such
persons were officers of the Depart¬ thirty-six vessels belonging
ment.
In March last there
were
employed in the Treasury Department
Washington 2,843 clerks, messengers and laborers, at a
monthly
cost
at
of $285,921 51.
At present
the whole number of
such
em¬
ployes is 2,441, and their monthly pay amounts to $238,280 84,
showing a decrease of expenses at the rate of $571,688 04 per
annum.
It was found necessary, however,
during the periods men¬
tioned, to increase
the force in the Internal Rovenue
office, and in
the office of the First
Comptroller. This increase, in the aggre¬
gate, is at the rate of $80,440
per annqm.
This statement does
service. There are
to tho Department, of which twelve are
sailing vessels and twenty-four are steamers. They vary in siae from 40
to 480 tons.
173 officers and 2,400 men are
required to man these
vessels, and their running expenses amount to about $865,000 a
year.
Four of these vessels, side- wheel ateamers of 480 tons burden,
are lake steamers, and out of
commission. They are rapidly diminish¬
ing in value, while the care of them involves an annual expense of
about $70,000. The vessels now in the service have been
purchased
and built at various times, and, as far as I can
ascertain, without
special reference to the nature of the duty to be performed, and cer¬
tainly without any matured plan. From one-half to three-fourths of
the whole number are not adapted to the business.
recently
Congress
December 11,
-iSS-S?---
-
1869.]
appropriated $800,000 for the
whose discretion and "judgment the
transaction of the business of the
country, and whose labors are not limited to the ordinary hours of
duty, should be made to feel that they are properly compensated.
There
two changes in the organization of the Treasury Depart¬
ment which I consider important.
The first change to which I refer is
the creation of a Chief Comptroller of the Treasury, who shall be
authorized to control the system of accounting by the several Auditors
and Comptrollers, and to whom all appeal shall be made upon ques¬
tions arising in the accounting offices of the Treasury.
The creation
of this office, clothed with the powers indicated, will give uniformity
to the accounting system, and I trast it wi'l be in the power of the
provided by law, but men on
now
,,
-
construction of four additional vessels#
.
745
CHRONICLE.
issued snd bids received under the authority thus
conferred upon the Secretary of the Treasury, but no contracts have
yet been made. An examination of the subject has forced the convic¬
tion upon me that it is inexpedient to incur the expenditure until the
Department is in possession of more accurate and complete information.
Jshall, therefore, take the opinion of a board of competent officers upon
the following points: First, the size and character of vessels required
by the nat- re of the service they are to perform ; secondly, whether
they should be constructed of iron or wood, or of a combination of these
materials. When the report of the Commissioner shall have been
received, proposals will be issued for the construction of four vessels as
authorized.
In addition to the present mint at Philadelphia six branch mints have
been established at various times in different parts of the country, one
at San Francisco, one at New Orleans, odb at Charlotte, N. C., one at
Dahlonega, Ga.,, one at Denver, Colorado, end one at Portland, Oregon.
Since the commencement of the war the branches at New Orleans,
Dahlonegai and Charlotte have been closed. An assay office, it is
believed, will satisfy the necessities of the mining interests of Colorado,
and for the present only a limited business will be d me at the Portland
Mint. Indeed, with the construction of railroads, and the consequently
increasing facilities for communication, I am of opinion that the business
of coibing will be chiefly at one mint upon the Pacific and one upon the
Atlantic coast. Under an act of Congress, passed July 28, 1860,
preparations are making for the sale of the mints at Charlotte and
Dflhlonega. The mining and coining of the precious metals is now so
large a national interest that it deserves mere attention than it
baa hitherto received.
At present there is no bureau or officer in
the Treasury Department at Washington charged specially with the
management of this great interest.
I therefore recommend that
provision be made for the appointment of a proper officer to be
intrusted with this branch of the public bus.ness, under the direction of
the Secretary of the Treasury.
The coinage of the country is diminished in amount by the fact that
in Eogland and France the mint expenses are much less than with us
It would no doubt have a tendency to prevent the export of the precious
metals in the form cf bullion if the mint charges were to be re uced or
W»d proposals were
S
THE
Government relies
fori the proper
are
the system ana materially reduce the ex¬
in this particular.
call attention is in my opinion even
appointed to simplify
officer
pense of the Department
The second change to which I
more important.
At present there
the Secre¬
exclusively with the Customs
Secretary of the
finally, in any way
administration of the
from Cus
The number
of
employed and the field of its operations are nearly as great.
It is impossible for the Secretary of the Treasury to give the various
questions that arise in the administration of the system that attention
which is essential to the service. The duties of superintending the
are eight divisions in
tary’s office whose duties are connected
revenue system.
There is no person, except the
or
Treasury, who is authorized by law to pass
authoritatively, upon questions arising in the
Customs Revenue laws. At the preseut time the revenue
toms i3 as large as the revenue from the excise system.
men
collection of Customs revenue are so
as
to
justify and require the
varied, delicate and important
exclusive attention of the most competent
be obtained. The experience of the present
of the internal revenue system and the col¬
the opinion that the establishment of /
Revenue, corresponding in
and position to that of Commissioner of Internal Revenue, and
powers
the appointment of a competent c mraissioner would render the execution of the Customs’ Revenue laws much more efficient and harmo¬
nious, whi e the revenue would probably be increased to the amount
of many millions of dollars annually; nor is it probable that the ex¬
penditure would be materially greater.
person whose services can
year in the administration
lection of the excise tax justifies
the office of Commissioner of Customs
'
hand
Including interest earned and not paid and deducting Cush on
the debt of the United States on the first of March last, wa3 $2,525,altogether abolished.
An agreement was made on the 11th day of February, 1869, be
468,260 01, and subject to the same conditions it was $2,453,559,785 23
tween the Secretary of the Treasury on behalf of the United States
on the first of the present month, showing a decrease of $71,903,624 78.
aod certain parties in California, leading a lot of land in fan Francisco This apparent decrease of the public debt is less than the
known as the Custom H use block, for the period of twenty-five crease.
Considerable sums have been paid on account of war and
actual de
This lease is subject to the
years.
ccndition tint it shall be void if
shall take adverse
lease is for
the Government
public pur-
Congress, on or before the 1st day of January, 1S70,
action in reference thereto. In view of the fact that the
a long period of time, and being or the opinion that
should retain control of property that may be needed for
^hinlz if
AM f
4><-v n
f n a I AASA
other old claims, not
previously ascertained,
and therefore not includod
of
debt statement. The account of March 1, from the necessity
case, included only the ioterest accrued and not then payable, but
in any
the
as a
matter of fact
pons,
there we e
and these, several
outstanding aud over ue interest cou¬
millions have since been
paid out of the or¬
I think it expedient for Congress to annul the lease.
dinary revenue. Previous to March 1 no interest account had ever
Considerable progress has been made upon the foundations of the been kept with the several loans; such measures as were founi
Poet Office building in the City of New York, and of the Post Office
practicable have since been taken to ascertain the exact condition of
and Independent Treasury building in the City of Boston.
The these amounts. The bonds issued by the United States in aid of rail¬
Supervising architect of the Treasury Department is of the opinion ways, amounting to $62,625,82 \ being in the nature of a loan, are not
that the vails and roofs cf the buildings may be completed during the included in the foregoing statement.
During the year ending June 80,
next year if sufficient appioprhti ns are furnished.
The works have 1869, there was an excess of receipts over expenditures, including the
been undertaken, I am of opinion that it is economical to make the interest on the public debt, of $49,453,149 46 ; of this excess $12,992,necessary appropriations for thtir speedy completion.
870 08, as nearly as can now be ascertained, arose previous to March
During the moDth of December the Department will be prepared 1, and the remainder, $86,460,779 48, between that gtime and the first
to submit a report upon, the condition of our commercial marine.
day of July. This excess was applied from time to time to the pasThat report will show that the navigation interests of the country
chase of five-twenty bonds, and the excess of receipts since July 1 has
have not recovered from the losses sustained during the war, and that been used in the same manner.
The purchases amounted in the
nnflOQ
poses,
I
restoration.
efficient measures are necessary for its
call the attention of Congress to the inadequacy
to officers in the Treasury Department who
whose acts
I cannot omit to
of the salaries paid
exercise discretion and
bind ihe Government, or effect directly its exponditures or
Some of the salaries wer9 fixed when the Government
$75,476,800. As large
sales of gold have
aggregate on the 80th day of November to
a
part of the excess of receipts was realized in corn,
been made from time to time, and the proceeds applied to ihe purchase
of bonds.
With the exception of the sa^e of moderate amounts of
coin in Chicago, New Orleans, St. Louis and Baltimore for the yaymenfc
organized—others when new officers were added, and but few of duties, the sale of gold and the purchase of bonds have been made
of them have been increased recently.
It is unquestionably true that uniformly through the agency of the United States Treasury
persons having equal ability and clothed with similar responsibility re¬ York, anu without any expense to the Government except the com¬
ceived much larger compensation from individual and corporations,
paratively small amount paid for advertising the
and although many of the officers now in the public service are likely
average premium on gold sold since March 1 has been 82 8-10 per
to continue from the circumstance that their vocation has lei aside
cent., and the average premium paid for bonds ha9 been 16 98 100 per
from the ordinary channels of business, yet, as an act of justice to
cent.; upon this basis of the sales of gold and the purchase of bjnds,
them and in the interest of the Government, I earnestly recommend the
average price paid for bonds in coin has been 83 55-100 per cent.
revenues.
»
was
in New
proposals. The
generally, this increase of pay
service, such as
Naval Officers, and especially to Appraisers
provided that the coin received for duties
upon imported goo is should annually be set apart as a sinking fuod to
Collectors, Surveyors,
i,he extent of one per ceutum of the entire debt of the United States.
and Examiners in the Appraiser’s Department.
Should the recom¬ In conformity with this requirement I have purchased bonds to the
mendation to repeal, the laws granting shares of penalties, fines and amouut of $20,044,8 0, aud designated them as belonging to the
forfeitures to public officers be adopted, it will be necessary to
inking Fund. These purchases are a substantial compliance with the
increase the salaries of Collectors, Naval Officers and Surveyors at al
statute.
From the 4th of March last I have not felt myself authorized
the principal ports of the country. It is a plain truth that the* or
required to make any provision for the time that elapsed after the
Government has no right to expect the service of such competent men
passage of the act, and p evious to the commencement of the ad¬
as appraisers and
examiners at the present inadequate salaries. In ministration. With the excess of means at my command, I have pur¬
the larger cities they are insufficient for the support of a family, and chased bonds in addition to those purchased for the Sinking Fuod to
under such circumstances the Government is not without responsibility
he amount of $55,432,000.
These are held as a special fund, subject
when it places its officers in such a position that they are compelled to
;o the action of Congress, and I respectfully recommend that they be
choose between dishonesty on the one hand and penury ou the othei. added to the Sinking Fund, and that any further purchases that may
The salaries cf the Assistant Treasurer and the principal officers
made be so added until the gross amount shall constitute a fund
should also be increased and for substantia.ly the same reasons.
It equal to that which would have been created if there had been no
has been found impossible for the lust few years to retain the services
delay in the execution of the law. The depreciation of curreacy is
of the most efficient clerks in the Treasury Department except by due to two causes : First, an excessive bsue, and, secondly, to the want
additions to their lawful salaries, through an appropriation placed iu of faith in the Government, and the extent of the influence of the first
the hands of the Secretary for that purpose.
named cause caonot be ascertained until the second is removed sub¬
The distribution of this appropriation is an unpleasant duty for the stantially. Whenever our credit shall be so much improved at home
Secretary, and cannot be performed without producing jealousies aud and abroad that holders of our bonds are disposed to retain them eveu
discontent among the officers of the Department. Speaking generally, when the public mind is excited upon financial subjects, we shall be
it may be said that the heads of bureaus, chief clerks, and clerks in able to
judge more accurately the exleot of the overissue cf papers
charge of divisions, are inadequately compensated for the services mooey. It is also true that the quantity of currency necessary for the
they perform. The routine business of the Department can be per¬ transaction of the business of the country cannot now be fixed accuformed in a satisfactory manner by clerks receiving the compensation
increase of tbeir pay. Speaking
•honld be extended to revenue officers
an
•
in the Customs
The act of Feb. 25,
)e
1862,
746
THE CHRONICLE.
[December 11, 1869.
-•
line
r^tely.
Sioce the close of the war the wants of the States of the
Sooth have increased, and
consequently a large amount of cuirency
In fine, the
r
'
'
"
practical question is not merely the
resumption
^4
as a measure by itself; it is not difficult, but
the
to resume under such circumstances that
The position can be
ed, not only in times of tranquility, bnt also in periods of
and peril. Our course, it seams to
me, is plain. Every
Government bearing upon the subject should tend to measure of
appreciate
value of our paper currency.
It is probable that s ma decrease
volume of paper will
ultimately be necessary, and I therefore
payment
of
problem^
maintop
exciteSJ*
SUiSi
hrS!
fully suggest that the Secretary of the Treasury be clothed reBbeet!
thority to reduce the circulation of United States notes in withal<
has been withdrawn from other sections to
supply the demand there
created. The amount necessary for the South will
steadily increase
for the next two yeaae.
The construction of the Pacific Railroad is
likely to result in the sub¬
stitution of paper for coin by the people on the Pacific coast.
It is
probable that the demand for paper for that purpose will not be less
than 180,000 000. Asa
consequence, a very large quantity of coin
will be withdrawn from circulation, and thus
TTm|4aM
d
practically the coin will 1
be increased upon the Atlantic coast, and the
amount not
paper in circulation in exceeding $2,000,000 in any one month.
Thus will the
the States east of the Rocky Mountains will be
country be
materially reduced, brought gradually (it may be, and yet without disaster) into a
These changes will tend to diminish the difference between
condlpaper and tion when the resumption of specie
payments will be easy, if not una.
coin.
The ability of the country to resume specie
payments will not | voidable.
be due to any special
legislation upon that subject but to the condition
On the 1st of December, 1869, the
principal of the public debt of the
of its industries and to its financial relations to otbes
countries. These, United States, not
deducting bonds and cash on hand, amounted to
of course, will be more or less
dependent upon the general policy of $2,606,286,786 82. Of this amount the sum of
the Government. The war exhausted the
$866,118,268 60 j8
country of its material represented by United States notes not
bearing interest. The larger
wealth, and the States of the South were literally impoverished. A
part of this is needed for circulation, but the amount can be
reduced
necessary condition for the resumption of specie payments was the de- from the
iL
the
XT
J I
L,
velopientof the industry of the nation, both South and North, and expedientordinary revenue offA country, if Congress shall consider it
/-l
a4«
to make provision for such reduction. HU. fractional
The
the consequent accumulation of movable
cur¬
products of industry to such rency in circulation was $38,886,664 68, and there is no
an extent that onr
occasion for
exports of those products should be equal sub¬ any legislation in reference to this item of
the public debt.
There
stantially to our imports. So long as is necessary to pay for merchan were outstanding, also, certificates for
gold deposited in the Treasury
dise imported by the transfer of Government bonds or other
evidences to the amount of $36,862,940. These certificates
are
of indebtedness to other countries, so
redeemable on
long it will be impracticable to presentation* These three items amount in the
resume and maintain
aggregate to
4
t
i
_
£
i
I
*
J
1
_
^
A
Cl
il_
—
_
J
~
i.
A
specie payment. When the products of industry
exported shall be equal, substantially, to the products of other coun
tries imported, there will be no demaud for
specie for export except
what may arise from the circumstances that our bonds held abroad are
.sent home, sold in our markets, and the
proceeds exporied in coin.
When the credit of the country shall be
fully established in Europe,
and there shall be no doubt either of onr
ability or disi osition to meet
all^our ob igations, bonds, heretofore and now, to a large extent held
by merchants and bankers, will be transferred to capitalists for perma¬
nent investment.
When this change shall have taken
plac?, the
ability of our securities being sent home under the influence of prob¬
politi¬
cal or financial disturbances in England will be
very slight, and when
as a concnrring fact, our
exports, exclusive of public securities, shall be
equal to our imports, specie payments may be resumed without even
a
temporary embarrassment to the business of the country.
One of the most efficient means of
strengthening the country in its
financial
relations with other countries is the
development of our com
mercial marine.
The returns show that a very
large amount of the
foreign trade is in English bands.
We are not only thus dependent
upon a rival country for the performance of the business which should be
specie pay
foreign trade of the
country, both of exports and imports, were carried on in American
ebips, the earnirgs would not be less than $76,000,000 a year. At
present the freights of the foreign trade in American
ships do not ex¬
ceed $28,000,000. Were the trade
exclusively in American bands, a
lsrge p«rt ot this difference of $47,000,000 would be due to citizens of
the United States, and payable
in other countries. This amount
would be thus added to our
ability to pay for goods imported from
those- countries.
If, for example, an American citizen purchase in
New York, a tbousaud barrels of flour for
$6,000, and export
Liverpool in an American veseel, and it is there sold for $7,000, ait to
bill
of exchange may be drawn against the
proceeds, and an invoice of
goods of the value of $7,000 purchased in England
although at the Custom House at New York, there entirely liquidated,
would be an ap¬
parent balance against the country of $1,000.
But if, on the other
band, the thousand barrels of flour are exported iu a British
vessel, the
proceeds of the flour realized in New York, and which can be
applied
to the payment of goods
bought in England, will be only $6,000, and 1
there will remain an actual balance against the
country of $1,000. This
{.anSliov
fetniliar ovoirmlo shows itio imnerfan/x. r,f
example ohniDa the impr rtance ofreestablisbing our commercial I
supremacy upon the ocean ; and I deem it, therefore, essential to
our
in the bands of our own people, but our
ability to maintain
rrenta is materially diminished.
If the entire
—.
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788 18, and in making
provision for the public debt
eessary to be considered.
Of the loan of Jan. 1,
*
_
A
—
A
9
4
_
$481,861-
they
1861,
are not ns.
the sum of
$7,022,000 is outstanding and payable on the 1st of January, 1871.
The loan of 1868,of $20,000,000, is
payable in 1878. The bonds
known as ten-forty bonds,
amounting to $194,667,800 are not payable
until 1874. The six per cent bonds,
payable in 1881, amount to $288
677,000. As the bonds known as eigbty-ones and ten-forties, amount¬
ing in the aggregate to $478,244,900, are not due and cannot be
paid
previous to 1874 aod 1881, it is unnecessary to consider them in
making provision for a new loan. The five-twenty bonds,
amounting
in the aggregate to
$1,602,671,100, are either due or will become boor
due; and it is to this class of tne public debt, and this class alone, that
attention
should be directed. Of this amount the sum of
$75,477,800
has been purchased since March last, and the bonds are now held
by
the Government. Before
any measure for funding the fiye twenty
bonds can be consumated, the Government will be able to
purchase
$76,000,00') more. There will then remain on the 1st of
July next
about $1,450,000,000 of the
five-twenty bonds in the hands of the pub¬
lic creditors. Of the entire indebtedness of the United
States, only the
unimportant sutn of $27,000,000 will be due and payable previous
to 1874.
Under these circumstances it does not seem to me to be
wise to
authorize the funding of the whole amount of the
five4wenty bonds,
which, as is now anticipated, will be outstanding on the 1st of
July
next; but that $250,000,000 at least should be suffered to remain
either for purchase or redemption
previous to 1874. Should the turn
of $250,000,000 be left for that
purpose, the entire public debt would
be in a condition to be easily redeemed. Between 1874 and
1881 the
ten-forty bonds could be paid, and provision also made for the redemption of the bonds which will become due in the
year 1881. It may os
wise to reduce the proposed loan to
$1,000,000,000, which would then
leave for payment previous to 1881 the sum of about
$67^,000,000, or
hardly more than $60,000,000 a year. Assuming that the proposed
loan will be for an amount not
exceeding $1,200,000,000,1 recommend
that it be offered in three classes of
$400,000)000 each, the first class
of $400,000,000 to be
payable in fifteen years, and to be paid in twenty
years ; the second class of $400,000,000 to be payable in
twenty years,
and to be paid in twenty-five years, and the third class of $400,000,000
to be payable in twenty-five years, and to be paid in
thirty years. The
essential conditions of the new loan
appear to me to be these; First—
...J
That the principal and interest shall be made
payable in coin; second,
that the bonds known as
five-twenty bonds shall be received in ex¬
'prosperity that the shipping interest of the country be
only As a nursery for seamen, but also an essential agency fostered, not change for the new bonds; third, that the principal be payable in this
in enabling country, and the interest payable either m the United States or in
tbe Government to institute and maintain
specie payments. It is an Europe, as tbe subscribers to the loan
interest also which, in its
may desire; fourth, that the rate
development, is as important to the States of interest shall not exceed
and people remote from the seacoast as it is to
4-J per cent per annum; fifth, that the
the maritime sections.
Every addition to our facilities for the export of the products of the in subscribers in Europe shall receive their interest at Loudon, Paris,
Berlin, or Frankfort, as they may elect; sixth, that the bonds, both
tenor is as advantageous to the
producers as to the merchants
prin¬
shipbuilders of the coast. While I do not anticipate that it and cipal and interest, shall be free from all taxes, deductions, or abatements
will of any Bort, unless it shall be
be necessary to delay
resumption until onr proper commercial United States to such tax upon thought wise to subject citizens of the
income trom the bonds as is imposed
position is regained, I am satisfied that the
development
navigation and shipbuilding interest will improve the of the by the laws of the United States to such tax upon income derived from
credit other money investments. There are two
and rapidly augment the
reasons, and each seem to
wealth of the
country. The Bug- me to be a controlling reason, why the bonds of the United States
suggestions that I have made indicate my opinion that it will
not be should be exempt from State and local
wise to resume specie
taxes.
If not eo exempt, the
payments while so large a part of the interest
amount of the taxes imposed
by the local authorities will be added.to
bearing debt of the country is represented by
five-twenty bonds and the interest the government will be required to pay, and thus the
held by European merchants, bankers and
manufacturers.
Questions national government will be
that have been raised in regard to the nature of
compelled to provide for taxes imposed by
the obligation assumed the
local authorities.
by the Government in the issue of these bonds, have
undoubtedly deterred many persons from
Secondly—Inasmuch
purchasing them as a permanent investment, cumstances be essential as the ability to borrow may under some cir
to tbe preservation of tbe
and consequently they are
government, the
largely held in this country and in Europe
for speculative purposes by
po tver should not, even in times of peace and
persons who design to put them
prosperity, be qualified
upon the mar¬ by
ket whenever the advance shall furnish a
sufficient inducement, or when- the any Concessions to the States of the right to tax the meanS' by which
national
ever
political or financial disturbances may create a demand for money I powers free government is maintained. The right to use its lawful
for other purposes. It is
of any
probable that from seven to nine hundred mil- | essentic condition of condition, restriction, or claim of another is an
essential
lions of these bonds are now held in
sovereignty, and the national government should
Europe, and to aconsiderable
by persons who will dispose of them under the influence to which extent never surrender or equalify its powers in this particular. In offering
I have tbe new loan citizens and
referred. Such a panic as existed in
subjects of other
Europe ia 1866 at the opening of the strongest assurance that the interest andgovernments should receive
the Austrian and Prussian war would be
principal are to be paid in
likely to induce the return cf coin according
a sufficient amount to this
country for sale, to embarrass business, and or abatement to the terms of the bonds issued, without any deduction
in case
of. resumption, to cause the suspension of the banks. It is agents for the whatsoever. In order to avoid tbe necessity of employing
negotiation of tbe loan, I respectfully recommend that a
therefore, in my judgment, essential that the
larger
of the five- liberal commission be allowed to subscribers, and that those who first
twenty bonds be withdrawn, and that other bonds partsubstituted
be
in I subscribe be permitted to select the class of bonds in which their subtheir place, issued
upon terms and conditions which admit of no doubt.1
scriptions respectively shall be made. I farther recommend, in con*
•
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.
_
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•
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1.1
_
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.
.
.
THE
December li, 1869.J
’-’‘tv
■
■"
"
■
—
^^T^^liepropbs^mBir that the banks established under the
t to provide a national, currency, be required to substitute the bonds
thatW he issued under tbe proposed loan act for those now deposited
!a security for the redemption of their bills.
Should any hank be udwilling to accept the new condition, provision
■hntld be made for the surrender of its charter, and authority given for
tbe organteati00 of new banks to supply tbe deficiency thus created.
Ad essential condition to the success of the proposed new loan is the
Aobtifluance of the present revenue system.. A chief means by which
?be present holders of the five-twenty bonds can be induced to surrender
them and receive a bond upon longer time and at a lower rate of in¬
terest is the certainty furnished by the magnitude of the nationa
revenue that these bonds are soon to be redeemed.
We must be pre¬
pared to offer them the alternative, either of accepting the new bond at
glower rate of interest, or payment of the principal of the existing
bonds. When the five-twenty bonds shall have been funded to the
amount of $1,000,000,000 or $1,200,000,000, the revenues can be re¬
duced materially, and yet sufficient sums be raissd to meet the ordinary
expenses of tbe government, to pay the interest on the public debt, and
alse to pay $25,000,000 to $50,000,000 of the principal annually.
Should our success in negotiating a loan be equal to my expectations,
based upon the fact that tbe ability and disposition of the people ot the
United States to pay the public debt are sufficient to j istify me io
awnmiog that tbe bonds of the United States will command the highest
rates in the markets of the world, we shall then be in a condition to
enter upon the work of reducing taxation at the commencement of the
next session of Congress.
On the 80th of June, 1868, the amount of
outstanding three per cent certificates, f»nd compound-interest notes
convertible into three per cent certificates, was $71,604,890; on the
SJth of June, 1869, the amount outstanding was $54,991,410, showing a
redaction of $16,613,480 on that form of indebtedness. On the 1st of
December, 1869, the amount outstanding was still further reduced to
$49,716,150, showing a total redu°tion in seventeen months of
$21,888,740. The threeper cent certificates are a substitute to a con¬
siderable extent for the United States notes, being largely held by the
banka as a portion of their reserves, and thus indirectly, though not to
their full nominal value, they swell the volume of tha currency. I re¬
Navy department
Int°reat on the public debt
Premium on 7 8-10 United States
LnndP
Miscellaneous
Expenditures, after deducting
ing officers and others :
Civil
Indians and Pensions
War department.
War
'
>.ft?.»••••».
.
_
debt
$209,250,000
v
expenditure, $76,7-0,000. Esti¬
Estimated receipts in excess of
mated receipts and expenditures basei
upon
ending June 30, 1871:
existing laws for the fiscal
$185,000,000
17 V 00,000
5,000,COO
28,000 000
$31*8,000,000
$60.0G0,0C0
88,000,000
50,600,000
18,000,000
127,000,000
Ouatoms
Internal revenue
Lands
Miscellaneous sourc a
Total
Expenditures.
Civil, foreign and miscellaneous
Interior, Indians an 1 Pensions
War department
Navy department
Interest on tue
public debt
%
..
$iwi,0uo,o00
Total
Estimated receipts in excess of expenditures,
The foregoing estimates
are
-
102,000,000
made upon tbe assumption
that the laws now in force relating to customs and internal revenue will
not be so changed as to materially affect the revenues, and the esti¬
mates of the expenditures are based upon the expectation that no
of receipts
extraordinary appropriations
will be made.
GEORGE S. BOUTWELL,
:
Secretary of the
Treasury,
COMPTROLLER OF THE CURRENCY.
Oubbency,
Washington, Nov. 10, 1869.
Sib: In compliance with the provisions of section 61 of the na¬
tional currenoy aot, X have the honor to present through you, to the
Congress of the United States the following report;
Sinoe the last annual report nine national hanks have been or¬
ganized, of which eight are new associations, and one a conversion
from a State bank, making the total number organized up to Octo¬
ber, 1869, sixteen hundred and ninety-four.
A table exhibiting the number of banks, with the amount of capi¬
tal, bonds deposited, and circulation, in each State and Territory,
on the 30th or September, 1869, will be found on the first page of
the Appendix to this report.
\ * .
From the number of banks organized, above stated to be sixteen
hundred and ninety-four, should be deducted seventy-four, leaving
the number in active operation sixteen hundred and twenty.
The banks to be excluded are the following:
REPORT OF THE
Office of the Comptbollbb of the
The
The
The
The
85,519,544 84
78,001,900 GL
ITEVSR COMPLETED THEIR ORGANIZATION SO AS TO
First National Bank or Lansing, Michigan.
First National Bank of Penn Yan, New
Second National Bank of Canton, Ohio, No. 463.
COMMENCE BUSINESS.
No. 232.
York, No. 169.
Second National Bank of Ottumwa, Iowa, No. 196.
SUPERSEDED BT SUBSEQUENT ORGANIZATION WITH THE SAME TITLES.
The First National Bank of Norwich, Connecticut, original
No. 458.
*
.‘
The First National Bank of Utica, New York, original No. 120;
IN VOLUNTARY LIQUIDATION.
The First National Bank of Columbia, Missouri
The First National Bank of Carondelet, Missouri
The National Union Bank of Rochester, New York.
No. 65; present
present No. 1,395
D. C,
The National Bank of the Metropolis, Washington,
The First National Bank of Leonardsyille, New
The Fanner’s National Bank of Richmond, Virginia.
Tbe Farmer’s National Bank of Waukesha,
The City National Bank of Savannah;
The National Bank of Crawiord County,
The First National Bank of Elkhart, Indiana.
.
The First National Bank of New Ulm, Minnesota.
The Pittston National Bank, Pennsylvania.
Tbe Berkshire National Bank ot Adams,
The Fourth National Bank of Indianapolis, Indiana.
The Kittanning National Bank, Kittannmg,
The First National Bank of Providence,
The National State Bank of Dubuque, I»wa.
The Ohio National Bank of Cincinnati, Ohio.
The F»rst National Bank of Kingston, New
The First National Bank of Blanton, Indiana..
Tbe First National Bank of Skaneateles, New
York,
Wisconsin.
Georgia.
Meadville, Pennsylvania.
Massachusetts.
Pennsylvania.
Pennsylvania.
•
$56,474,061 68
*»»t-*........
„ ^
$40»-WMW0
*LOOO,000
* *0,500,000
00,o00
93,750,000
.
Total...
$376,948,747 71
.
department
Navy d partment
...
Iuterest on the public
year
iiS^GOO
Expenditure*.
Civil service
Pensions and Indians
87.752,829 97
,
29
$185,000,000
4,000.000
20,000,000
;
Total...
,
;v,Wi.i......
2
SS’ooi; 95
public debt
Miscellaneous sources.
,
gMjwana tdlmu
»
^
$180,048,420 63
158,856,460 86
EqnntiMwe*.
...»
Customs
Internal revenue
Land*
respectfully recommend that a law be passed prohibiting
absolutely the payment of the interest by banks upon deposits, and
limiting also their loans upon collate als to an amount not exceeding
ten per cent of their capital.
I am satisfied also that the practice of
certifying checks, even when funds are in the bank to the credit of the
drawer of the check, is fraught with evil, and that it ought to be
entirely prohibited. The following statement exhibits the receipts and
expenditures for the fiscal year ending Jane 80, 1869:
TdM, Wfcalve °f loans
.$163,831,693 0 2
by disburs¬
‘
&
the amount of repayments
.
I therefore
grttairttmT" ’
•
7,419,483 57
87.4^2,270 74
Total, exclusive of loans
5?
Etc ipts, in excess of exp nditures
33,851,107 43
The estimated receipts and expenditures for the three remaining
quarters cf the fiscal year ending June 30, 1870, are as follows;
Receipt*.
■
forty-one per cent, and in the latter year
thirty-seven per cent of the loans made by the New York banks were
upon demand. A further result is seen in the fact that parties bor¬
rowing money upon commercial paper for legitimate commercial pur¬
poses pay from three to six per cent additional interest per annum as
compared with persons who borrow mouey for speculative purposes.
.
”W,UW w
Navy depa tment
merest on the
In the former year,
sources
fS’SSS’ISI 22
oft
—
Total, exclusive of loans
in October, 1868, $98,000,000 were upon commercial paper, and
$88,000,000 upon demaud, with a pledge of collaterals, and in October,
1869,199,000,000 were upon commercial paper, and $59,000,000 upon
•wwfljaueous
the
Interoal Revenue
capital might be so arranged as not to produce
the financ.-s or business of the country, while
additional banking capital would be supplied to the sections now in
need of it, and this without any inciease of the volume of circulation.
There are two evils in the present banking system which require
remedy by prompt and efficient legislation.
The first is the practice
oa the*part of banks of allowing interest upon deposits.
The effect of
the practice is, that moneys iu the hands of individuals, which other¬
wise might be loaned for regular mercantile and other business pur¬
poses, are diverted into the custody of bdnks. upon the idea that if the
security is not better, payment can be obtained at a moment’s notice.
Couutry banks and others remote from the large centres of trade, hav¬
ing received money on deposit, for which they pay interest, are anxious
to transfer such funds to other banks and from which they will receive
an equal or larger amount of interest in return.
They are stimulated,
also, by the desire to place their funds where they can be at all times
commanded. Thus influenced, large sums are placed on deposit with
banks in the cities, especially in the City of New York, which is the
great eentre of trade and finance for the Atlantic coast. In the ordin¬
ary course of trade the currency of the country tends rapidly to the
cities, and it is unwise to stimulate this tendency by artificial means.
But the evil does not end with the impoverishment of the couutry. As
the banks in the cities may be called upon at any moment to respood
to the drafts of their depositors, they decline to make loans represent¬
ing such funds upoa commercial paper payable upon time, but insist
upon making call loans, as they are termed, with Government bonds or
other obligations, pledged as collateral security.
Merchants generally
will not borrow money in large sums payable upon demand. The conwquetice is that the moneys thus accumulated in the city banks are
loaned to persons engaged in speculative pursuits. The extent of this
evil is seen in the fact that of tbe bank loans in the city of New York,
.-
•••-
$371,490,697 75
49,455,149
receipts and expenditures for
$3J-??
££
*
89 <,864 08
Receipts from Customs
a
wL?iUlt0m#
*ntomai Revenue
Treasury notes
The following statement exhibits
the quarter ending Sept. 30,1869 :
addition to the banking
serious disturbance in
demand.
,
Total, exclusive of loans
Receipts in excess of expenditures
provision be made for the redemption of the three per
cent certificates within a reasonable time, and as a compensating
measure for the ieduction in the amount of currency which would
thus be caused, the authority be given to grant charters for banks in
the States where banking capital is less than the share to which they
would be entitled to, an amount not exceeding $85,000,000 in„ the
aggregate. The redemption of the three per cent cei tificates, and the
commend that
747
CHRONICLE.
'
York.
York.
The First National Bank of Jackson, Mississippi.
The First National Bank of Downington, Pennsylvania.
The National Exchange Bank of Richmond, Virginia.
The Appleton National Bank, Appleton, Wisoonwh* The National Bank of Whitestown, New York,
•
748
THE CHRONICLE,
The First National Bank of New Brunswick, New Jersey.
The First National Bank of Titusville, Pennsylvania.
The First National Bank of Cuyahoga Falls, Ohio.
The First National Bank of Cedarburg, Wisconsin.
The Commercial National Bank of
Cincinnati, Ohio.
The Second National Bank of Watertown, New York.
The Second National Bank of Des Moines, Iowa.
The First National Bank of South Worcester, New York.
The National Mechanics and Farmers’ Bank of Albany, New York.
The First National Bank of Plummer, Pennsylvania.
SifiCt October 1, 1868.
The First National Bank of Steubenville, Ohio.
The First National Bank of Danville, Virginia.
The First National Bank of Oskaloosa, Iowa.
The Merchants and Mechanics’ National Bank of Troy, New York.
The National Savings Bank of Wheeling, West Virginia.
The First National Bank of Marlon, Ohio.
The National Insurance Bank of Detroit, Michigan.
The National Bank ot Lanaingburg, New York. *
The National Bank of North America of New York, New York.
The First National Bank of Hallowell, Maine.
The Fust National Bank of Clyde, New York.
The Pacific National Bank of New York, New York.
The Grocers’ National Bank of the city of New
York, New York.
The Savannah National Bank, Savannah, Georgia.
The Fust National Bank of Frostburg, Maryland.
The First National Bank of La Salle, Illinois.
The First National Bank of Dorchester, Massachusetts.
Registered bonds, act of February 25,1862
Coupon bonds, act of February 25, 1862
Registered bonds, act of March 3, 1863
Registered bonds, act of March 3,1864, 5 per cent
Coupon bonds, act of March 3, 1864, 5 per cent
Registered bonds, act of March 3, 1864, 6 per cent
Registered bonds, act of June 30, 1864
Registered bonds, acts July 1, 1862, and July 2.1864
Registered bonds, act of March 3,1865, 1st senes
Registered bonds, act of March 8,1865, 2d series
Registered bonds, act of March 3,1865, 3d series
Registered bonds, act of March 3, 1865, 4th series
A statement
showing the capital, bonds deposited to
NATIONAL
BANKS WHICH
HAVE FAILED
WHICH
TO
REDEEM
RECEIVERS HAVE
secure
circulation, circula¬
outstanding October 1, 1869, of
•
NOTES, FOR
APPOINTED.
-
The
The
The
The
Merchants’ National Bank of Washington, D. C,. James C.
Kennedy, receiver,
First National Bank of Medina, New York, Edwin P. Healey, reoeiver.
Tennessee National Bank ot Memphis, Tennussee, William A. Hill, receiver.
First National Bank of Newton,
Newtonville, Massachusetts, D.* Wayland
First National Bank of Selma, Alabama, Cornelius
Cadie, Jr., receiver.
First National Bank of New Orleans,
Louisians, Charles Case, receiver.
National Unadilla Bank, Unadilla, New
York, Lewis Kingsley, receiver.
Farmers and Citizens’ National Bank of
The Croton National Bank of the city of New
York, C. P. Bailey, receiver.
The National Bank of Vicksburg,
Mississippi, B. H. Polk, receiver.
The First National Bank of Keokuk, Iowa, O. C. Haie, receiver.
The First National Bank of Bethel, Connecticut, E. S.
Tweedy, receiver.
Since last report but one bank has failed-—The First National Bank of
Rockford,
Illinois, R. P. Lane, receivei.
During the past year the following dividends have been raid:—
To the creditors of The First National Bank of Medina,
New York, 38% per cent.
To the creditors of the Farmers and Citizens’National Bank of
Brooklyn, New
York, additional dividends of 32 per cent.,
making in all 87 per cent
To the creditors of The Croton National Bank or the
New York, an addi¬
city of
tional dividend of 25
per cent., making in all 75 per cent.
To the creditors of the Tennessee National Bank of Memphis,
a dividend of 14
per oent has been declared, but bas not yet been paid, owing to a failure on the
part of the leading creditor to present the proper vouchers.
A statement showing the capital, amount of United States bonds
deposited to
secure circulation, circulation
delivered, circulation redeemed at the Treasury of
tbe Unite! States, and the amount
outstanding October 1,1869, of national banks
in the handB of receivers, will be found in the Aopendix.
NOTES IN CIRCULATION.
The following statement exhibits the number and
deemed and outstanding, September 30,1869:—
amount
0.
ones.
-
-
-
of notes
of Notes.
issued,
re¬
Amount.
-
9.589,160
$
9,589,160 00
904,013 00
8.085,147
$
8,685,147 00
3.209,388
$
6,418,776 00
464,448 00
$
5,954,328 00
.
.
TWOS.
904,013
232,224
2,977,104
FIVES.
Issued.....
Redeemed.
23,670,700
4,929.700 00
.22,690,820
$113,454,100 CO
8,094,045
272,495
Redeemed.
$118,888,800 00
985,940
TENS.
$ 80,646.450 00
2,724;960 00
7,821,160 $ 78,221,500 00
twenties.
Issued.
2,209,764
71,655
Outstanding.
$ 45,395,280 00
1,433,100 00
2,198,109
22,859
$ 18,170,150 00
1,442,950 00
334,664
$ 16,733,200 00
274,799
25,968
Redeemed.
$ 43,962,180 00
ses,523
FIFTIES.
$ 27,479,900 00
ONE HUNDREDS.
248,831
FIVE HUNDREDS.
Issued....
Redeemed.
18,668
2,586
Outstanding.
6,834,000 00
1,292,600 00
$
6,541,500 00
4,709
Issued....,
Redeemed.
$
4,709,000 00
2,415,000 00
2,415
Oatstanding
Total amount of denominations
day of September, 1869.
Add for fragments of notes
2,354
outstanding
on
$
or
de-
.......
18 523 000
25’466’200
S92’800
2’678 460
10
’228*000
342,475,100
in
skillful,
recognizing the forged signatures, make it impossible for the great majority of
genuine issues.
those who may handle money to distinguish the spurious from the
The subject is respectfully submitted to tne consideration of
REPORTS.
Congress.
Under the act of Congress of March 3, 1869, three reports have
been called for.
The first call was made Tuesday, April 20, tor a report showing the condition of
the
banks at the close ot business on tbe previous Saturday, April 17.
The second call was made June 15 tor a report showing the condition of the banks
Saturday, tbe 12th of June.
The third call was made October 13, for a
report showing the condition of the
banks on tbe 9th of that month.
The first report showed a larger number of banks than usual deficient in their re¬
serve of lawful money, but
generally in small amounts.
*
The second and third reports, successively, exhibited an improvement in
this re¬
spect; and as they are regarded as setting torth the actual working condition of the
banks, without manipulation or preparation, the results are far more valuable and
gratifying. In fact the two evils most complained of under the former system of
reports, to wit: previous preparation on tbe part of the banks, and the opportunity
afforded to speculators to manipulate the money
market, have been almost entirely
done away with. The banks habitually keep themselves in better
condition, as a
rule are less extended, and have more complete control of their affairs.
If they
carry out this policy a little more thoroughly, they will be less at the mercy of the
borrowers, will be better able to protect the legitimate interests of their customers,
and better entitled to the fostering oare of the government.
LIQUIDATION.
As the law
stands, a bank may, by a vote of the shareholders owning twothirds ef its stock, go into liquidation and close
up its affairs.
After the expira¬
tion of one year from the publication of notice to its bill-holders and
creditors, as
now
required by the statute, it may deposit with the Treasurer of tbe United States
legal-tender notes for its outstanding circulation, and take up the bonds held as
security therefor.
This section was undoubtedly intended to
provide for the winding up of banks
under the ordinary conditions incident to specie payments.
The natural flow of
notes to the place of their
issue, when banks are paying specie, would cause a large
portion of them to be redeemed during the year; and if the bank is solvent, and in
good faith endeavoring to close up its affairs, the most of its creditors would pro¬
bably be paid by the expiration of that period. So that, supposing the liquidation
to have progressed so far that the bank is
ready to distribute its capital among its
stockholders, the law provides the manner in which the liquidation shall be com¬
pleted, and the shareholders discharged from all further liability on account of in circulating notes, within a reasonable time.
In this view of the case the provisions of the statute are reasonable and
proper.
Bar, under existing circumstances, when bank notes remain in circulation until
they are worn out, and when tbe use of tbe notes as money is so muoh more valua¬
ble to tbe holder than any gain he may realize from their
redemption that he will
not send them home for that purpose, the year provided in the la*
•, and the pur¬
pose of that provision, are of no moment whatever. Banks go into liquidation,
and call upon note-holders to present their notes for
redemption, by published
notioe, as required by law, hut, during the whoie jear that follows, are not “obliged
to redeem anything except now and then a worn-out or defaced note. This
facility
of circulation, and the absence ot all cost of
redemptions, have probably induced
some associations to take the
legal steps for going into liquidation, with the ex¬
pectation ot continuing to reap the benefit of their outstanding circulation, while
they continue to do a banking business under State laws, or as private bankers.
Inis is an abuse that could only he practiced under a suspension of
specie pay¬
ments, and during the absence of all demand for redemptions: but for the time it
is none the Jees an abuse that requires coirection.
Congress provided by law for
tbe organization of banking associations, which should te
subject to certain re¬
strictions, and which should be authorized to issue notes for circulation as national
currency. The privilege of issuing circulation was granted upon certain conditions.
The privilege and the conditions go together. The law does not
contemplate that
the conditions should he cast aside or disregarded while the
privilege is retained.
Unfortunately the phraseology of the law seems not to forbid such operations, and
the interference of Congress Is necessary to prevent its
privileges from being
abused, and to protect those banks which are in good iaith endeavoring to comply
with all the requirements of the law.
It is respectfuby recommended that Congress should
pass an act in one sesfion,
unconnected with any other subject, requiring all banks that
go into liquidation to
deposit legal-tender notes for their outstanding circulation, and take up their bonds
deposited with the Treasufer of the United States as security for such circulation,
within sixty days from the date of the vote ot the shareholders to
go into liquidation.
METHOD OF COLLECTING UNITED STATES, TAXEP.
Section 41 of the national banking law provides for
taxing the circulation, de¬
posits, and capital not invested in United states bonds, of national banks. The
banks are required to report and pay these taxes semi-annually to
the Treasurer of
the United States.
This they have done regularly
since their organization, paying
into the
treasury several millions every year, without trouble, and without expense
2,354,000 00
$299,789,055 00
840 45
Under the Internal revenue taw they are required to
pay special tax, and a
dend tax to the collectors of the several districts in which a
they are located.
It is recommended that all taxes imposed on national banks
by the United States
be made returnable and payable to the Treasurer of the United
States, in tbe same
manner that the larger
portion of them now are.
This change would avoid confusion, save expense and
divi¬
more
$299,789,896 45
promptly, and probably
the supervision of one officer,
would be concentrated in one
trouble, collect the taxes
thoroughly, and place the whole business under
by which means, also, all information on the subject
office, and so be more accessible.
more
The following statement shows the amount and kinds of United States bonds
held
by the Treasurer of the United States to secure the redemption of the circulating
SPECIAL EXAMINATIONS.
of national hanks on the 30th day of September, 1869.
not%s
; Perhaps no one thing has done more to promote the safety and sound manageRegistered bonds, act of June 14, 1858
$075,000 pent of national banks than their liability to examination without previous notice,
Registered bonds, act of June 22, 1860.......
85,000 >y an agent appointed for that purpose, and probably no provision of the law'wajs
Registered bonds, act of February 8, 1861
3,491,000 more unpopular among the banks when the law first went into effect: but the good
Couponbondi, act of March 2,1861..
16,000 results brought about, directly and indirectly, by such examinations, have fully vin¬
Registered bonds, acts of July 17 and August £, 1861.
68,880,050 dicated the wisdom of tbe provision. The examiner’s work is done silently, and the
public are not aware ef either the amount or the importance of the .work done.- In
•
Finally closed.
quite a Urge number of oases examinations have brought facts to light that nave
,
to the government.
the 20th
outstanding, lost
stroyed, portions of which have been redeemed
Total
$ 24,883,10 0 00
11,083
ONE THOUSANDS.
■'
2,596,800 00
$
753*600
218’700
ored man, who had been employed in the office from the time ot its
organization in
a confidential
capacity, and who was then under arrest. The evidence against h’lm
though very strong, was not considered to be conclusive, and it was thought best
not to bring the case to trial at
once; but to wait and see what additional testimony
might be developed by tbe lapse of time. During the past year, efforts made by the
guilty parly to avail himself of the stolen notes furnishing conclusive proof of his
guilt, he was tried in the criminal court of the District in August last, and con¬
victed, but a motion in arrest of judgment was granted by the court for some defect
in the Indictment, and the criminal was discharged.
He was at once re-arrested on
several other charges, and is now awaiting his trial on new indictments.
Only about
$1,400 of the stolen notes have been recovered, and it is a serious question whether
provision should not be made for the payment of these stolen notes when found in
the hands of innocent holders.
Their similarity to the genuine issues of the same
and other national banks, and the difficulty, to any but the most
expert and
on
Brooklyn, New York, Frederick A.
Platt, receiver.
2
36
City Bank or
Lynn, Massachusetts, and $12,000 In fifty and one hundred dollar notes ot tbe First
National Bank of Jersey City, in addition to which several thefts of a
single sheet
had occurred, making in all $17,560. Suspicion at that time was directed
to a col¬
York, Leonidas Doty, receiver.*
The Venango National Bank of Franklin,
Pennsylvania, Harvey Henderson,
receiver.
Jones, receiver.
345 qaa
91679 450
’ iq’qoo
In my report for 1867, 1 called the attention of
Congress to the fact that, in save*
ral instances, notes prepared in the usual manner for issue to
national banks had
been purloined from this office. Two amounts larger than the rest were
mentioned:
to wit: $4,500 in fifty and one hundred dollar notes of The
National
-Tbe First National Bank of Attica, New
The
The
The
The
ann
’
Total
THEIR CIRCULATING
BEEN
59 22«
....
*'
tion delivered, circulation redeemed, and circulation
the foregoing banks, will be found in the Appendix.
December 11,1869.
.
.
,
enabled the Comptroller to interpose in time to save banks from failure. Defalca¬
tions have been exposed; abuses, irregularities, and violations of law have been
discovered and corrected.
The compensation allowed by law is totally insufficient to pay the right kind of
men to undertake this duty.
Tae labors of examiners are very severe, involving
Work by day and travel by night, while the rigid and careful scrutiny required to
investigate fully the condition and accounts of the banks is weary and exbaustiBg.
In New York, Boston and Philadelphia, the banks have cheerfully acknowledged the
value and efficiency of examinations, by making voluntary provision somewhat
commensurate with the arduous nature of the work and the importance of the
results attained. .
An increase in the amount of their compensation is a matter of necessity as well
as a matter of justice; and Congress is urged to make provision for that purpose.
All the expense involved in these examinations is now defrayed by the banks, under
the law, and no appropriation of the public moneys will be necessary. An Increase
in the rate of compensation should be authorized l y law, and provision made for
Its assessment upon the several banks examined, in proportion to the time and labor
spent in the examination.
SALARIES.
Comptroller was author¬
discharge such du ies as
by the Secretary of
In the organization of the National Currency Bureau, the
ized to “employ, from time to time, the necessary clerks to
be shall direct, which clerks shall be appointed and classified
the
Treasury in the manner now
provided by law.”
that could be paid were already
Perhaps in the beginning such
provision was adequate for all practical purposes; but as the nature ot the duties
to be performed became more arduous, and the responsibilities greater, more difflcnltv has been experienced in securing the services of competent men m the various
positijnsto be filled.
The leading places in this office, now filled by clerks receiving salaries of $1,800,
require abilities of a high order and integrity of the most undoubted character—
abilities and integrity that in other pursuits command much higher compensation.
The salaries paid by banks to officers for the performance of duties no more difficult
and no more responsible than those devolving upon the clerks in this office, aie
from one hundred to three hundred per cent greater.
The consequence has been
that, even after the services of the right kind of men have been secured by a course
of instruction and training, the higher prices offered by private interest outside of
the department constantly draw them fiom the department, and leave the same
Under this provision of law the highest salaries
fixed by laws passed nearly seventeen years ago.
difficulties to be again encountered.
It seems to me evident, if the salaries
fixed seventeen years ago were not then
high, when all the necessaries of life were much cheaper than now, that at the
present time they are totally inadequate, iu view of the enormous advances in the
expense of living. It is not wise to place men upon a salary meagre and barely
too
sufficient to furnish tbe necessaries
oflife—perhaps
even
insufficient for that—in
positions of responsibility where the most thorough integrity is required. It i3 ex¬
posing them to temptations to which they ought not to be subjected. And I earnrstly recommend a general increase of salaries, and especially an increase in the
salaries of those men who have the most important positions in the bureau.
The salary of the Deputy Comp'roller is not equal to the importance and respon¬
sibility of his position. It is less than tbat now paid to men in the office of the
Treasurer of the United States, whose positions are no more responsible and no
more
important, and very much less than the salaries paid by banking
in the large
citit s.
institutions
position of the cashier of the division of issues is also one of labor and respon¬
sibility, as is tbat of the cashier of the division ot redemptions.
The division of reports requires for its chief a man ot peculiar qualifications. It
is his duty to examine all reports received from the national bands, and he has
charge also of ail the correspondence growing cut of them. The position is one of
great labor, requiring no ordinaiy judgment and skill.
The various accouuts kept in the office are extensive anl complicated, requiring
The
vast labor and skill.
The correspondence of the office is very extensive, and
on as a
mere mat'er of routine.
It requires knowledge, intelligence and ability to con¬
duct it properly.
I would recommend that the Deputy
should be paid a
the head of each division $2,400; two correspondents $2,200 each; and
cannot be carried
salary of $3,500;
two book¬
Comptroller
keepers $2,000 each.
I do not think the government would
honest labor. The duties would be mors
lose anything by a fair compensation for
ably and satisfactorily performed, and the
efficiency of the public service would be increased.
report, looking to the estab¬
the interest of the national
banks, owned and controlled by them, for the redemption of ail their issues, and
for the transaction of their business, is agaiq submitted to the consideration of
Congress.
.
Careful observation and study during the year have confirmed the opinion then
expressed as to the practicability and usefulness of such an institution. In the
first place, it would be the clearing-house for all the bank circulation in the coun¬
try—the reservoir to which it'would flow, and from which it would be distributed
again whenever and wherever needed.
A common misapprehension prevails as to the effect or practical result of general
and uniform redemptions in New York, the impression being tbat such an arrange¬
ment would be onerous upon the country banks, and would compel them to pay
tribute to that city. No apprehension could be more unfounded.
As long as every
bank redeems independently at its own counter, or at tbe nearest redemption city—
Cleveland, Pittsburg, Cincinnati, or St, Louis, and not in New York—(undathat are
par, that will pay dents in the latter city, will command a premium; and tbe oldtime system of assorting and returning tae notes of country b<mk& for the purpose
of procuring New York exchange, will be renewed. The brokers, finding tney can
make a profit in this way, will divide the territory between them, and will compel
tbe banks to sapply themselves regularly with gold and exchange to meet their
demands.
New York, to
in New York.
nothing gain by it. A
of tbe
country, and this will ba furnished proportionately by all the banks. The excess of
circulation only, over and above this amount, will have to be redeemed; and this
excess will also be equally apportioned to all the banks.
So that, by the adoption
of one general agency, as proposed, e^eiy bank In the coumry will have its just pro¬
portion of the benefit to be derived from the circulation; sharing also, in the same
proportion, in tbe expense of redeeming any excess that there may be from time to
On the other hand, if all agree to establish their own agency in
take care of andtoprot»ct their own notes, all currency will be par
There will be no running upon the banks, for there will be
to
certain amount of currency will always be required to transact the business
And tbat is all there is in a uniform system of redemption in New Yorkequal rights and equal privileges to all, special hardships or heavy expense to none.
tim*».
effect upon the banks, the people at large, would
rqjoice in a curreucy of uniform value all over the countsy. All mconveniencies
growing out of local values would disappear, and we should have a truly national
currency.
The
proposed agency, being controlled
banking in¬
highly con¬
tenden¬
the interests of trade.
the ex¬
would have
much depends,
detrimental to the
and managed by the Joint
terests of the country as their own fiscal agent, would necessarily be a
servative Institution, which would operate as a check upon the speculative
cies of the tunes, and exercise a healthful influenoo upon
The banka would atiend to their otfn business in New York, thus saving
penses and profits heretofore paid to their correspondents; and they
the satisfaction of knowing that their reserve funds, upon which so
were not risked in Wall street speculations, or used in a manner
publio interests.
INTEREST ON DEPOSITS, AND CALL LOANS.
It is a common saying among bankers, when speaking of
vision, “Take
care
of the currency; make that as secure as
terfere with the business of the banks.”
governmental super¬
possible, but do not in¬
As far as practicable, business should be left free and untrammeled; but, in this
country, tbe business of issuing circulating notes is so involved with the lending of
money; the ability to redeem on demand is so dependent on the amount of reserve
kspt op hand, and the charaoter of the loan, that it is impossible to apply safe-
retards to the currency, without applying prudence and reasonable restrictions to
th* business of lending. If a bank pledges its capital by tbe deposit of bonds for,
the redemption of its circulation, it must so use that circulation as not to lose it:
so invest it as to have it coming back with a profit: must use it Judiciously, and
»»f«ly, so that it will protect itself.
in delegating the power to issue notes, has the right to pre¬
shall be issued. If harsh or unnecessary
abrogated. If the conditions are wise and
wholesome, they should be honestly observed. In prescribing rules, reference
The government,
scribe the conditions upon which they
conditions are imposed, they Bhould be
attained by the organisation or incorporation of
banking institutions. A charter to carry on the business of banking does not give
power to buy and sell real estate, to ship goods to a foreign port, or to engage in,
or promote, any speculative operation.
The business ot banking, properly con¬
ducted, is just as sure, and just as safe, as any other business; but it must be con¬
should be had to the object to be
fined to Its proper and legitimare sphere.
In tbe case of an incorporated banking association, its powers are prescribed in
its charter. The law for the organization of national banks defines their powers
with precision.
They are empowered to exercise, under the act, “all such
incidental
shall be necessary to carry on the business of banking, by discounting
negotiating promissory notes, drafts, bills of exchange, and other evidences of
debt; by receiving deposits; by buying and selling exchange, coin, and bullion; by
loaning money on personal security; by obtaining, issuing, and circulating notes,”
Ac.—from which it will be seen tbat national banks are authorised, among other
things, “<o receive depositsthat is, when money is brought to them, they are
powers as
and
authorized to receive it.
They are not, however,
authorized to hire deposits, and the law does not contem¬
plate that they should solicit loans, under the guise of deposits, by the offer to pay
interest on them.
This practice, however; prevails extensively; and although, by
implication, the law forbids it, the prohibition is not sufficiently explicit or positive
to prevent it.
The evil of the practice is this: All the banks in toe leading cities,
and nearly all the country banks, keep balances in New York, which by law con¬
stitute a portion of their reserve.
Tbe offer of interest on these balances is an in¬
ducement to keep a9 large a portion of their reserve on deposit in New York as the
law will allow.
Banks iu the leading cities—which are named in section thirtyone oi the act—are permitted to keep one-half their reserve in New York; and all
other banks are permitted to keep three-fifths of their reserve there.
If then, New York banks pay interest on these depositp, they must, of course,
use them; and, as they are payable on demand, they must be loaned on call.
Call
loans, as a rule, are made to brokers and operators in stocks and gold. Men en¬
gaged in trade cannot ordnarily afford to borrow money which they may be called
upon to refund at an hour’s notice.
It is, moreover a prevalent opinion in the large cities that a large call loan is a
good thing for a bank to have—that it makes a bank strong; and bank officers ex¬
hibit with evident satisfaction a large proportion of their loan payable on demand.
And why ? Money loaned on call is loaned at a lower rate of interest than when
time is specified, and therefore cannot be more profitable.
The truth is, they have
a large deposit, upon which they are paying interest, that may be checked out at
They are obliged to get something tor the use of their money* but
any moment.
are atraid to give time, and so have to lend on call at low rates.
They know tbeir
weakness in this respeot, and feel obliged to fortify. The fortifications are, per¬
haps, the best possible; but if there were no weak points, there would be no danger
to guard against.
Perfect immunity from danger is better than the strongest forti¬
fications against an ever impending dancer.
The most objectionable feature ot the whole transaction, however, lies in the fact
that the facility with which large loans can be effected, payable on call at low rates of
interest, while commercial paper is only done at high rates, oris deolined altogether,
fosters speculation. Paragraphs like the following may be found in the money ar'icles
of the New York papers almost every day:—“Money was fairly active on call at six
to seven percent.; commercial paper very dull; piime names ten percent, to fif¬
teen per cent.;” which means, money for speculation, six to seven per eent ; money
for trade, ten to fifteen per cent,
Call loans are a necessity, when interest is paid on deposits.
CompeTiion for the
accounts of country banks has led to„the payment of interest.
The New York
banks see and deprecate the evils of the practice. They have several times at¬
tempted to put an end to it; but there will always be one or more banks which see
their opportunity in such an effort, and will refuse to come into any arrangement
intended to put a stop to it. The tact that the reserves of the country are hawked
on the street, and are tendered and used for speculation,
is sufficient ground
for
an
interference of the law.
INTEREST, TAXES, AND PROFIT.
A bank that has its capital invested in
of which it obtains an issue of circulating
interest-bearing securities, upon deposit
notes—which notes are to be used in its
banking operations as money—can afford to lend its money
at lower rates of inter¬
est than a bank that issues no notes tor circulation, but lends its capital directly to
its customers.
The bank with circulation derives .a portion of its profit from the
interest on its securities, and a portion from its customers* while the bank
without
CENTRAL REDEEMING AGENCY.
The recommendation contained in my last annual
lishment of an agency in the city of New York in
While such would be its salutary
749
THE CHRONICLE.
December 11,1869.
profit lrom its customers. The delegation by the govern¬
ment to banking associations of the power to issue notes to circulate as money,
therefore, has a tendency to lower the rate of interest, and so to furnish cheap
money to the business community.
That this is actually the case will appear upon investigation. Toe incorporated
hank doing business, and issuing circulation under the authority of the goverment, is
uniformly regarded as the most reliable and reasonable source of accommodation
by the business community. The private banker, depending upon the active use of
his capital for bis profit, must charge a much higher rate of interest to realize the
same relative profit, supposing, ot course, that the deposits of the two institutions
are equal.
A bank with $100,000 capital invested in securities bearing six per
cent, interest, upon which it has received $90,000 m circulation, can lend that
$90,000 at seven per cent., and yet realize a profit of $12,300 on its capital. The
private banker, lending lm capital of $100,000 directly, must charge his customers
twelve per cent' to realize the same profit as the bans.
The merchant and the
tradesman know this, and expect to pay about that difference for the use of
money when their necessities compel them to resort to private bankers or brokers.
The government, therefore, corners a greater boon upon the business public, by
enabling it to borrow money at moderate rates of interest, than is generally real¬
ized or admitted.
If all the banks were deprived of their circulation dur¬
ing the coming year, by act of Congress, the rates at which money could be bor¬
rowed in most sec ions of the country would be nearlv doubled. T&e assumption
by the government of the sole power to issue circulating notes would in no wise
furnish relief. Tbe United States can get its notes into circulation by paying
them out for its expenses, and in payment of its debts.
Not being able to do a
banking business, however, it cannot lend them as a bauk can, but would have to
pa; them out to its creditors, and, in the end, the notes would come into the
ay
mds of capitalists, who would lend them to the people at high rates of interesT.
ha
Taking the country as a whole, government and people as one, the profit gained
by the government on the issue of its own notes—or, to use an expression in com¬
mon use, the amount saved by the use of its own notes as a loan without interest
—would not compensate for the additional tax upon the business of the country,
caused by the advance in the rates of interest which would be likely to follow such
a cnange in the circuation.
The amount loam d by tbe national banks to the business interests of the coun¬
try will average about seven hundred millions; and for every addition of one per
cent, to the rate of interest, a tax ot not less than seven millions would be im¬
posed on the business of the country.
An inorease of five per cent, to the rate of
interest would make the tax not less than $36,000,000.
This would be the actual
circulation derives all its
this additional burden, while It would
could not well be
of the
lend
money tax.
But the depression caused by
be
very serious drawback to the prosperity
country,
esti¬
mated in money. As a general thing* national banks
money to their cus¬
tomers at about the legal rates, though, of coarse, there are exceptional cases.
a
Heavy taxation, also,
is a burden on the business ot the country; and bke every
the expense of conducting any business, the burden u
end by the customer, or consumer.
The tax upon gas companies, for
instance, is added to the monthly bill of every consumer; and the tax upon banks
Is merely the addition of something to tbe rate of interest. Within a certain
limit the tax it proper and legitimate. Every business should bear its share of the
other item that enters into
borne in tbe
public burden; and if the rates are equitably and wisely adjusted, no complaint can
be made. But in many sections the local taxation growing out of the expenses
of the war is so high, as, when added to the United States taxes, to absorb a large
proportion of the profits of the banks. Limited by law to the legal rate of Interest,
tbe bank must wind up, or its shareholders must be content with meagre dividends.
Soma banks in this predicament have actually taken the necessary stspo to dose
up their affairs: Others, probably, have resorted to usury to increase their profits
to the paying point.
"
*
Banking systems had been in operation in several of the States for a number of
wears before the war, tbat issued ctroumtiea baaed upon a deposit of State or
United States hoods; and there was bo Umttattomtothe Bomber ot •oofe ba&ks, or
750
THE CHRONICLE.
to the amount of circulation
they
might issue.
*..VyA
>
4K
The deposit of United States bonds
giving to the system the semblance of a monopoly—operated to produce an im¬
pression in the public mind that national banks were mines of wealth, realizing to
Some of the earlier banks which sold their
§old interest at from of the 180 per cent the amount of which sold five-twenty
onda for the agents 100 to
premium, and millions, probably did
government to
realize very
large profits.
But that day has passed.
The average dividends made by the banks
during the last year will probably not
exceed'ien per cent, upon their capital, after deducting taxes and
expenses.
And
as the premium en
gold shall diminish, and the national banking
shall
system
be
are able and choose to
comply with its conditions, the average
profit will conform to the law which governs all business. It will be a fair living
made tree to all who
pio3t, and
no more.
■
'
SOUND
The currency constitutes
CURRENCY.
very important part of the financial system of any
country. Without a sound currency, a healthy financial condition is impossible.
There are two requisites to a sound
currency; convertibility and elasticity, and
either of the two involves the other. The
present currency ot the United States
possesses neither of these requisites.
During the past year it has neither in¬
creased nor diminished, but stands about as it did this time last
year*-*
a
$300,000,000 issued by the government,
neither redeemable
nor
and $300,000,000 issued by the banks-—
anything more valuable, and therefore not
ordinary process; each issued to the full limit
convertible into
susceptible of reduction by any
allowed by law, with no power of
expansion.
The whole amount must be employed,
whether it is wanted or not, and the limit cannot he
exceeded, no matter now
urgently more may be required. During the summer months, when there is rest iu
almost all branches of
trade, the whole circulation was in market seeking employ¬
ment; and now that autumn nas come, with its bounteous
harvests, when the
farmer seeks to realize in money the reward of his labor and the interest of
his
capital for the whole year, when hundreds of millions must be distributed through*
oui the
length and breadth of the land, we have the same unvarying amount of
currency to use.
There are two kinds of currency in use: one issued
directly by the government,
the cither issued by the banks
One kind would seem to be enough. The be t
should be preserved and
perfected; the other withdrawn.
Applying the test first to the government issues, it is noted at once that they are
redeemable, and that no provision has ever beeu made for that purpose. The
very moment that they are made redeemable they will cease to answer the
purposes
of currency; for, after
they are reieemed, they are in the treasury and cannot again
be paid oat except upon appropriations made
by law, in accordance with the con*
stitution&l provision, and
consequently cannot again be put in circulation, except
not
disbursements may be necessary to pay expenses
and debts of the govern¬
So that government circulation is not
convertible, and therefore is not
elastic, and cannot be made so without first making a radical change in the
organi¬
zation of the United States Treasury
by which it should be converted into a huge
banking institution calculated to reoeive deposits, make loans, and otherwise
as
ment.
per¬
form the functions of a national bank.
The notes issued by national banks are
nominally
tender notes were out of the
way, would be
redeemable; and, If the legal
actually so, and, being issued by insti¬
would contract and expand la obedience to the law
they would also possess the element of elasticity.
As to the comparative merits of the two kinds of
currency, an impartial consid- '
eration would prebably decide m favor ot a bank
circulation, principally because it
would possess the power of adapting itself to
the exigencies of trade. If govern¬
ment issues could be made to possess the same
power of adaptation, the verdict
would be in their favor. A candid
investigation, however, cannot fail to develop
the fact that there is no branch of the fiscal service
adequate to the direct istue
and earn of such a
currency as the country requires. The treasury system is so
arbitrary in its collections and disbursements, so little in harmony with the business
interests of the community, that it
frequently absorbs large amounts of currency
at most
inopportunethe
seasons, and disburses them with just as little regard to the
wants of trade.
If
treasury were redeeming its issues, large amounts would be
presented for payment when money was plenty; but, as the return of this
money
to the channels or trade would
depend upon the disbursements of the government,
there conld be no certainty thatit could find its
way back again when needed. In ~
fact, the current operations of the treasury of the United States are
regarded by
business men as constituting a powei
ful, and, at the same time, a very unoertain
element, difficult to estimate, but which must necessarily be taken into considera¬
tion in all their business transactions. It is but
justice, however, to say that the
inoonvenienciee and defects inherent in the
present system have been obviated as
tar as possible by the present administration of the
department, and where they
conld not be obviated entirely,
they have been reduoed to a minimum.
So long, thexefore, as the collection of the revenues
is liable to be a process of
contraction, and their disbuisement a process cf inflation, the
agencies through
which collections and disbursements are effected
cannot d© regarded as suitable
agencies for furnishing a sound currency to the people.
The argument that the government should furnish
the currency ia order that it
may realise the profit upon its circulation is a common
one, but will not bear
scrutiny. There is no profit to the government on the circulation of
an inferior
currency. Only a sound currency will promote the material prosperity ot the peotutions in sympathy with
trade,
of supply and demand, so that
{ile; ana theAs currency,can realize no profit fromissues
ntereets.
government therefore, government anything not profitable. their
detrimental to
As a
a
loan without interest they axe equally
the national credit, and add
are
unprofitable, because they
enormously to the
injurious
are
to
expenses of the government.
for the government to comply with the conditions
necessary in order to furnish a sound currency, it can at least
provide for the
withdrawal of its own notes, and prescribe the conditions
upon which, and tbe
agencies through which, a better currency may be provided. As belore
stated,
there should be but one paper
currency in the country, and that should emanate
lrom a source that is Influenced
by. and is amenable to, the laws of trade. No
check or limitation should be imposed upon
it, other than the law of supply and
If, however, it Is impossible
demand.
The
hanking system
improvement
FREE BANKING.
now in operation under the act of
Congress, is doubtless
mi
upon the condition of things that prevailed
prior to its mauguto*
tiou. It may have
imperfections, but most of them can be traced to the evils of an
irredeemable'currency. Abuses of various kind are practiced, or tolerated, during
a suspension of
specie payments, that would disappear of themselves in a
healthier
financial atmosphere; and as observation and
experience bring to light defects,
they may be corrected by judicious legislation. Any radical
changes now would
affect so many and such great
interests, that it would be safer and wiser to build
upon and improve the present system, so as to bring it fully
up to the requirements
of the age and the country, than to undertake to
build up a new one. It
may be
made the means of supplying a safe,
convertable, and elastic currency in any
volume that may be requied by the business of the
country.
No human intelligence can fix the amount of
currency that is really needed; for
it is continually varying, and 1b
If Congress limits the
never fixed.
amount, there will always be those who will be
dissatisfied, and who will seek legislation either for
the purposes of contraction or expansion. And so
long as tbe volume of currency
depends upon legislative enactment, uncertainty and
instability will pervade all
financial
operations.
If, however, notes for circulation
are
issued by a
•Statement of the United States
November 1,1801.
banking association composed
Currency for 1808 and 1809.
November 1, 1809.
Legal tenders.
$350,021,073 | Legal tenders.
Ffactional currency33,413,985 I Fractional
currency
$350,113,258
87,036,442
389,435,058
Increase of]
tap**#.
•e
i
*•
Union.
HILAND R. HULBURD,
Comptroller of the Currencr.
Hon. George S.
Boutwell,
Secretary of the Treasury.
APPENDIX.
of tanks, amount of capital, amount of bends
deposited, and circulation, In each State and Territory, on the cdth (f
September, 1809.
Statement
showing the number
ORGANIZATIONS.
—>
.■
■■■
■
^
•
t
Spates and
Territories.
© 5P
V. s
£
«
^
N.Bampsh
.
e
41
M
O
..
,
.
61
41
40
206
62
.
e
3
65
1
Pennsylva’ a 205
Maryland.
82
8
2
1
..
11
6
Virginia...
W. Virginia
20
36
Ohio
#
,
2
3
1
6
3
2
2
3
5
138
71
84
Indiana
Iilinoisl
Michigan....
43
Mtmeeoti..
87
48
18
5
20
Wisconsin..
Iowa
Kansas......
Missouri......
Kentucky
..
Tennessee
Louisiana
.
.
•
.
.
«
.
Mit-sissippi.
4
3
Colorado....
Georgia
....
6
Carolina.
3
a.
Alabama....
s
,
,
.
.
2
Oregon
Texas
Arkansas.
Utah
Montana....
Idaho
Fractional
1
4
2
1
1
1
..
redempti’s
report’d by
the Treas¬
urer of the
States.
.
.
m
,
L
M
,
,
1
3
1
Nevada^...
12,902,000 Ot)
12,570,000 00
16
•
2
,
9
N Carolina.
22 954.700 00
13
2
1
.
.
#
,
.
.
,
,
t
.
•
•
•
.
...
.
.
2,6*3,800 00
68
82
41
31
43
17
6
18
1
2
Nebraska...
2,216,400 00
132
•
11
3
1,850,000 00
14
2
.
4,835,00) 00
6,810,012 60
85,082,000 00
4
17
1
15
-Bonds
on
deposit.
Circulation In actual
issued.
circulation.
$9,185,000 00 $3 438,750 $7,682,256 $7,509,196 00
20,364,‘00 00
81
24,606,8.0 00
294 116,284,941 00
54 11,605,350 0*5
197 60,2:35,390 00
31 12,790,902 60
11
1,428,185 00
..
21
..
Capital
paid in.
t—1
1
83
316
Delaware
Dl-t. of Co;.
•
P fl
o o
V
o
62
Vermont...
.40
MHSsach’e’ts 209
Rhode Isla’d
62
Connecticut
New York..
New Jersey.
r—,
©
o
Maine....
o
no
gJ
6,460,010 00
2,760.000 00
4,017 000 00
1,840,tOO 00
400,000 CO
7,810,: 00 00
2,885,000 00
2,015,300 00
1,800,000 00
4,897,*‘00
6,533.5 0
65,230,500
14,193,600
19,753.100
79,096,^00
10,710,450
44,353/ 00
10,068.750
1,358,200
1.337,600
2,405,060
2 243,250
20,642,160
12,554,< 60
11,352,850
4,365,100
2,715,050
3,671,750
1,772,2i0
382,000
4,786,350
2,725,700
1,490,200
1,258,000
4,994,396
6,016,800
4,281,195 CO
6,751,720 00
60,104,670 67,046,930 10
12 940,850 12,486,900 00
18,215,115 17,433,978 00
76,067,510 68,553,175 00
9,736,245
9,407,116 00
40,769,220 88,743,606 00
9,436,780
8,910,880 00
1,244 725
1,197,625 00
1,339,600
1,099,671 00
2,177,580
2,134,930 00
2,068,950
1,988,060 00
19,076,260 18,406,383 00
31,391,695 11,017,627 90
10,315,835
9,950,275 00
3,824.755 00
3,957,555
2,508,102 00
2,626,750
3,486,135 3,217,077 00
1,604,100
1,543,900 00
371.400
341,00) 00
4.164.525 00
4,419,170
2,428,470
2,366,720 00
3,291,170 1,191,551 00
1,094,569 00
1,251.120
‘
•
•
66,000
63 883 00
235,000
297,000
171,500
1,383,600
445,100
217,000
810,60J
155,000
255,700
170,000 00
252,000 00
1,229,900
1,234,100 00
384,700
3<9.7(0 00
192,500
192,500 00
353,025
131,700
88,560
288,647 00
129,700 00
88,500 00
407,635 00
178,900 00
135,000 00
36,000 00
•
4
3
n
1
b
3
2
1
1
4
2
1
1
1
451,000 00
350,l00 00
1,600,100 00
823,400 00
828,500 00
400,000 00
250,000 00
100,090 00
625,00C 00
200,000 00
160.0 0 00
100,000 00
100,090 CO
100,000
472,100
200,000
150,000
429,535
180,200
135,500
36,000
63,500
40,000
75,000
•«*>
•
*-•
•
••••■•*•••••
§«*«•#••••
•
•
»•••••••
IlfftltVIltlfflttlV
ftf
ft## Of Iff t
III
Total. ..,.1,994-' 74 1,020 482,163,61100 842,470,100 817,992,510
:
}
01,600 00
"
M»»»M
^sM««eeiew9es.9fsete«*eM4«<M«es«e««eete«a|
^
11,1849.
Rerpectfuliy submitted.
3#3,l«,fW
9 •
December
«i.V'
possible at all, it is only possible through the agency of national banks. The
ma¬
chinery of the government is not adapted to such ends. And furtber, if
possible
it is so only upon Hie adoption of a
policy which will tend gradually but surely to
a resumption of specie
payments. It must be the gradual development of a
pro¬
cess which shall absorb
legal tenders, and put in their plaoe a paper currency which
shall at all times and under all circumstances be
exchangeable for coin, either of
paper* or gold—a paper currency which shall gradually increase, while the
legal
tenders for its redemption shall
gradually decrease, in such a ratio as a healthy de¬
mand for banking facilities may
determine.
Where banking facilities were already
abundant, there would be no inducement
for the establishment of
banking institutions for the issue of
ditions that would inevitably diminish the volume of lawful currency upon con¬
money applicable to
its redemption, and so
gradually but surely enhance the cost of such redemption while in other sections destitute in whole or in
part of banking facilities for the le¬
gitimate demands of business, the necessity for banks and currency would
justify
the increase of bank circulation,
notwithstanding the fact that by such inorease the
burden of its redemption would also be enhanced.
Tbe entire South and many portions of the West are
very much tn need of the
facilities and advantages to be derived from
properly organized banking institutions,
and their necessities would justify them in
deliberately adopting measures to supply
their wants, the direct tendency of which would be to hasten tbe
return of specie
payments in the manner indicated, to wit, by the increase of bank notes, and tbe
absorption of tbe legal tender notes.
As the former Increased, the latter would
diminish. As lawful money became loarce, its value would be
enhanced, and would
gradually approximate to par with gold. Thus specie payments may be reached
through the agency of the national banks, and by the operation of natural causes.
The process will not be rapid or
spasmodic, because it will in all its stages, and in
all its details, be governed
by sound principles and conform to established laws. At
t lie same
time, tbe benefits and advantages of the national banking Bystem would
fjr i« ;ually become more equally diffused, until all sections would at
length get their
just and equal share, apportioned beyond cavil or objection, because
regulated by
the actual requirements of business.
While free banking may thus be established with
safety, anterior to specie pay¬
ments, conditioned only upon the withdrawal and cancellation of a legal-tender
dollar for every dollar of bank currency
issned, free bankingupon a specie basis
may also be permitted, with equal safety, and without delay. With details
properly
adjus od, banks may be established with authority to issue and putin circulation
gold i. tea—limiting the amount only by the ability of the banks to comply with the
neees-ary conditions, and to redeem their issues.
Some provision of this kind is
probably necessary in order to supply the Pacific and gold-producing States with
a paper currency.
A circulating medifim, cheaper and more convement than
ooin, has long been a necessity in those States, and would undoubtedly do much to
promote activity, enterprise, and development.
Experience has demonstrated to
them that a currency composed
exclusively of specie is not exempt from the fluctu*'
ations to which money and trade
everywhere are subject, and has awakened an
anxiety on the subject, which may lead to the introduction of paper money, if the
opportunity is afforded.
By the establishment of banks on a specie basis, the resumption of specie pay¬
ments la only anticipated; and
familiarity with gold values will do much to relieve
the subject of the mystery with which it is associated in
the minds of many.
Looking forward to the day when uniform values shall again prevail, it may be that,
bv wise legislation now. a banking
system can be established, truly national in its
character and scope, which will furnish a sound
currency of uniform value in every
State in the
3»,«8%0«
Total increase
•W-r
of business men and capitalists, who are
obliged to furnish security for the promot
and easy conversion of their issues into coin on
demand, no other limit to the ;
amount ot such notes need be fixed than that
imposed by self interest. If there
is a legitimate demand for
currency, the notes will remain in circulation
enough to make their issue profitable. If there is not such a demand, the iofir
notes
will be hurried home for conversion into coin, In this
way the business demand
for currency will get its
supply; and the surplus, if any, will always be retired.
A self-adjusting system of currency is the
only one that is adapted to the exi¬
gencies of trade, and to the wants of the country; and it is a vital
question at this
time, .whether this result can be reached before the return of specie
payments. If
required as security for the circulation of national banks is nothing new, either in
theorr or
practice. The Tact that the United States paid the interest on its bonds
in gold, which gold was sold
by the banks at a premium, enabled them to make
larger profits than were accustomed to be realized by State banks formerly doing
business under similar circumstances. And the additional fact that the amount
of circulation that conld be issued
by national banks was limited to $300,000,000their stockholders fabulous dividend a
.<*,
'
Ifc.% $,.1
*I<egal tenders,
840
299,709,880*0
Dscainber 11,
751
Statement showing the national batiks in liquidation, tJudr capital, bonds
deposited to secure circulation, circulation delivered dretda tlon surrendered
and destroyed, and circulation outstanding October 1,1869.
Name and location of bank
§1^
§a
$
£'« >»
national
with tto
tKeir circulation,withdrawntheirTreasurer of the VnitedStoU* to redeem
bonds, and are closed under > he provisions
of section42 offhe act; their^capttal, circulation issued,-ettcumticn sur¬
rendered, circulation redeemed by the treasurer
of the United States, and
circulation outstanding on £A« Is* day of
■
October,1869.
•✓ • ■
o.9
S'®
§11
IIS ll
or*
o ®
oh©
Name and losation of bank.
Bank of Rochester, ,N. T. $400,000 $520,000 $192,500
tj*i2fet.BapkofLeonardsvil e,N.Y 50,000 50,500
inner*’ Nat. Bank of Richmond, Va 100,000
ItTB^ bf tbe Metropolis, W>shD.C 200,000
First National tfankof Elkhart, Ind* 100,000*
Nat.B’k of Crawford Co.Mcad vhie.Pa 300,000
CRy National Bank ot Savannah Ga. 1» 0,000
\nt Nat.Bank of New Ulm, Minn.
60 000
irst Nat. Bank of Kingston. N. Y
200,0 0
Ir/tNat. Bank of bluffton, Ind.—
50 000
first Nat' Rank of Skaneateles, N.v. 150,000
Tppletoh Nat Bank < f Apple’ on, Wis
50,000
Hut. Bank of Whitestown, N. Y.
120,000
First Nat B’k of Cuyahoga Falls,Oh o
50,000
Nat Mech. AFirm. B’k of Alb’y,N.Y 350,000
First Nat- Bank of Steubenville, Ohio 150,000
/First National Ban* of Danville, Ya.
50,000.
iFratNat. Bank of Os*aloosa, Iowa.
75,000
Kerch & Mech. Nat. Bank of Troy,NY 300,000
First National Bank of Marion. Ohio. 125,000
Nat. Tnsnr.ihc6 Bank of Defriot,Mich. 200,010
Nat. Bank of Lan8ingbun.h, N. Y...
150,000
Nat Bank of N. America,N. York,N Y 1,000,01‘U
FifstNat Bank of Hallo well, Me
60,000
VFac’flc Nat. Batk'of New York, N.Y 422,700
*
..
0rocerjj’ N \t. Bank of New York,N.Y
.'Savannah Nat Bank
.
:
;
o' Savannah,Ga
FirstNat. Bank of Froetburg, Jfc d...
Ftfst National Hank of La S ille, II..
Pittston Nat. Bank of Pittston, Pa..
300,000
100.000
50 000
50,Out)
200,000
Fourth Nat. B nk of Indianopolisjud 100/00
,
Bersfiire Nat.
■
Hank of Adams, Maes.
First Nat; Bank of Provide- ce. Pa...
$9,000
85.000
1P8.000
180,000
100,000
88.147
54,0 >0
1 000
WOO
5 0,000
180,000
4;\000
151,000
135.000
6,300
1,275
'50.000
50,000
45,000
80,000
176,161
88,147
53,000
173,700
43,725
50,090
83\0V0
360,(00
•44,000
76,009
215,090
125,000
109,00)
169,000
85,000
86,000
135,000
136,000
806,000
333 000 27,000
500
53,350
310.000
50,000
150 UvO
134,9!*)
100,000
100,’ 00
85,250
a\000
53,000
50 030
45,0 0
45,000
93,500
(+)
85,700
271666
52,850
134,990
68,250
85,000
46.000
46,000
2,100
83,6C0
2,250
87,750
(t)
fat. State Hank-of Dubuque, Iowa.. 150,000
ittanning Nat. b’k of Kitanuing,Pa 200,000
143,000
6u0,000 624*000
200/ 03 198,400
97,000
103,000
(+)
450,000
180,030
86.750
445,5f 0
1.500 178,500
3,292
88,458
90,099
too
89,100
132,600
182,600
90,000
90,000
44,000
44,000
89.500 3,500
86,000
90,003 2,000
88,000
500
42.500
42,0i0
87.503 1,600
85,900
100,000
150,< 00 150,000
100,000 100.000
99 000
50,000
100,000 100,000
100,000 100,000
50,0 0
60,000
103,000 100,030
*
The First National Bank of Elkhart, Ind., hag been
reorganized under the
and resumed business.
tNo circulation.
same name
I‘g
•SsF-'Se
:
|?s IJHli
Ss
$&3
....
....
.
..
receives, their capital,
unt
of United States bonds and lawful money deposited to
circulation, amount of circulation delivered, the amount tf circula¬
tion redeemed at the treasury of the United
States, and the amount outstand¬
ing on the 1st day of October. 1869.
®
am
fecure
■”
Name and locat
i f bank.
jJ
® ® r) ®
•
Jr
d to
on..
-o
T3'O«-,0
O'*- '©.O
on
®
*1
15 C—■
$:0,0C0
..
o
N ®
® ©
First Nat. Bank of
Attica. N.Y.
Vena* go Nat. Bank
of Franklin, Pa
Merchants’ Nati’al
Bkol Wash. D.C
First Nat Bank of
Sl3
$41,000 CO $44,000 $38,218 00 $5,772 00
800,000
85,000 00
85,000
74 798 50
10,201 60
180,000 00
180,000
150,489 75
29.610 25
82,154 45
40,00)
3 ,912 75
100,000
90,000 (X)
00,000
74,219 00
1\’,81 00
100,000
85,009 00
85,000
64,377 60
20,6*22 5 0
155,S74 15
180,000
120,0C0
1(0,000 00
1C0,0C0
300/03
253.900 00
253,9 0
191,921 50 61,976 60
200,000
180,000 00
180,000
142,407 60
37,592 45
60,000
26,300 00
26,300
14,255 00
12,045 00
100,000
90,000 00
90,000
62,342 25
27,657 75
50,000
.
25,500 00
25,500
12,609 25 12,890 75
17,475 00
43,000
6,730 00 38,270 00
130,000
12,500 00 117,600 00
200,000 $50,000
Medina, N.Y....
50 000
Tenne see Nat. Bk
of Memph:s, Ten
First Nat. Bans of
Selma, Ala
20,000
50,000
500,000
of
4.500
s
$90,000$7§,010 $£,670
First Nat. Pank of
New Orlema, La
Nat. UnadillaBank
6,950 121,550
•§ |?
.
First Nat. Bank of Columbia, Mo.. $100,000
00
0 00
First Nat. Bark of ( arondelet,Mo..
80,000 25,500
20,634 50 4,865 50
Farm. Nat. B’k of Waukesha Wis. 100,000 90,000 29,948 ( 0 60,052 00
FrstNat. Bank of Jackson, Miss. 100,000 40,600
7 50 40,492 60
Fiist Nat. B*nk of Cedarburg, Wis 100,000 90.000
18,000 3,000 00 69,000 10
Com. Nat. Bank of ( incinnaii,Ohio
500,000 345,960
34/050 00
First Nat Bk of So.Worcester.N Y 176,000 157,400
4,500
162,900 09
Statement showing the national banks in the hands of
136,uC0
45,000
44.500
2,000
43,000
314,950 14,580 300,370
13\0<h;
135,000
39 209
45,000 6,800
67.503
67.500
184.750 3,"66 181,550
119,859 1,000 10/850
100,0 >0
50.000
$192,500
45,000
44,f00
45,000
90,000
127,500
...
3,839
59 00)
99,850
First Nat Bank of Titusville. Pa
S“COhd ,^at. Bank of *atertown,N.Y
First Nat. Bank of i ’orch- ster, Mas®.
Nat Savings Bank of Wheeling,W.Va
First National Bank of Clyde, NY..
First Nat. Bank of Downingtown, Pa
First Nat Bank of N Brunswick. N J
Second Nat. Banx of Des Moines,Iowa
First National Bank of Plum r, Fa..
$5,000
(+)
(+)
100,000
Ohio Nst, Bank of Cincinnati, Ohio.
;N«t. Exchange Bank of Richmond, Va
....
45,0(0
3
■&
*-*»
o§
.Nat. -Union
llllttir"xildf«r«
deposited lawful money
UnadUla, N.Y
Farmers’&Citiz’ns
.
7,087 25
144,511 00 35,489 60
82,157 50
17,842 50
Nat.Bk of Brook¬
lyn,N.Y.
Croton Nat. B’k of
New York, N.Y.
First Nat. Bank of
Bethel, Conn....
First Nat. Bank of
Keokuk, Iowa..
Nat. Ba’k of Vicks.
burg. Mips
First Nat. Bank of
Rockford, Ill....
First Nat. Bank of
50.000
37,000
150,000
146,000
Newton, at New-
tonville, Mass,..
Table of the state of the
lawful money reserve Required by sections 31 and 32 of the National Currency Act) of the National
Banking Associations of the United States, as shown by their reports of the 9th of October, 1869.
■Items of
Liabilities to
%
"
'
of banks
6tates and Territories.
Main
New Hampshire
...
Vermont
Massachusetts
a reserve
...
160
Rhode tsLnd
Connecticut
$1,872,445
969,653
4,436,634
10,873 009
5
232 227
3,696,914
6,600,137
897,439
1,8)0,246
4,168,406
422,869
648,716
817,877
4,107,847
266,504
472,471
£95,741
616,177
862,188
289.440
232,090
194,813
809,201
44,000.910
Delaware
Maryland
IS
16
Virginia..
West Virginia
North Carolina
^uth Carolina
1,929,599
1,298,756
Georgia
2,952,178
547,4)1
Alabama
Texas
442,8 >7
82,115
1.075,629
-Arkansas
Kentucky....;
2,872,169
4,813,013
28,450,122
<>hio
Indiana
Illinois..,
4,267,518
-3,066,006
2,165,518
3,019,648
628,681
1,303,741
585,219
379,445
103,162
1 (,370,117
..
Minnesota
38
6,797,657
4,191,210
8,69',610
8,901,457
2,529,631
687,746
1,863,655
471,216
1,200.938
199,422
129,124
17
r
Kansas
Nebraska.........
ffitvgon
1
Co orado
Montana
Idaho
1
Total
$391,376,119
100,000
40 000
5,000
65/00
3,521,552
6,344.125
14,421,104
6,121.468
9,065,471
724,617
1.137,309
658,446
219,961
Per cent of
available
les rveto
liabilities.
19.1
22.
19.3
20.6
19
21.4
19.9
21.4
20 6
25.7
26.3
12
37,604
75/00
646,878
380,462
15 7
102,133
360,718
911,429
27 7
30.9
200,183
437,282
S6.6
40.7
218,548
68,584
52,397
6,813
19.7
29,875
8.7
276,985
412,829
625,452
21.8
981,074
20.4
270,000
70,000
2,168,168
5V577,467
85,373
9,273
100,000
10,811
50,000
25,003
35,000
10,000
1,375,535
646,529
840,267
520,712
179,820
188,666
19.6
19.7
28.850
46,770
7,825
40,090
19,369
$59,156,419
$36,215,834
1,666,999
40,060
33.057
272,822
75,052
176,880
121,959
160,175
19,500
28,499
180,141
29,913
,
270,000
786,000
2,854
11,245
483,256
279,548
70,682
1,646,266
10,818,172
1,945,652
3,709,610
7,786 438
2,908,510
4,055.635
353,2 5
684,311
179,336
443
346,113
557,50)
3,010,459
2.245,895
1,604,874
787,659
454,5 4
1,189,757
721,952
$2,389,359
1,422,241
5,977,859
314.308
22,619
430,825
20,379,372
-Michigan
-"Wisconsin
jJowa...
585,049
reserve
922,290
826,659
1,055,000
*
56,430
4,848
40,527
73,369
9,739
46,239
13,913
32,822
16,9U
114,708
70,527
161,329
61,473
343,154
Tennessee
20,000
115,000
240,000
110,000
205,000
52,712
2,819,123
4,324,770
5,452,516
Pennsylvania
^Missouri
2,840,739
Amount
of avail.
redemption of
circufation.
$1,232,710
$10,000
22,623
143,179
41,3 >7
88,776
4,457,134
1,424,663
Amt. in redem.
cities avail for
certificates.
2,730
581,984
7,870,019
2,776,200
72,486,729
23,979 425
Sp-c;e.
$18,819
$1,127 830
477,221
1,202,503
29,677.557
New Yoik
New Jersey
Legal
tenders.
as reserve.
-
cent,
temp, loan
per
rtquired
$12,482,968
6,464,354
8,016,685
52,466,796
18,501,334
41
Amount
of
15 per cent.
reporting.
..
•
Three
Nnmber be protected, by
3
reserve
2,799
8,586
4,029,164
8,165,832
22 3
1,488,461
21.8
20.4
20.8
18.1
20.2
20.5
18.8
30 1
34 9
22.2
25.1
865,582
1,768,526
706,172
5i0,978
63,2c 6 *
141,107
166,185
851,151
23,431
234,722
1,251
6,563
2,395
141,742
419,424
44,182
32,457
$39,382,014
$80,965,648
♦
19,783
24,527
•
$1,678,800
.
*
•
.
.
.
1
$3,795,000
,
20.5
Statement of the condition of the tawful money reserve,
{required by sections 31 and 32 of the National Currency Act) of the
National Banking Associations located in the cities named in section 31,
except in New York, as skoivn by the reports
of their condition at the close of business on the 9th day of October, 1869.
HEDEMPTION CITIES.
46
$7,414,694
$1,057,503
1,189,083
6,898,529
16,282
16,867,500
uX-iphYa .* ”.’ *.! * .* ” I!! Y. ’ /
JWlngton
Ne\* Orleans
Louisville
wncinnati
Cleveland.
Chicago.
fiawv
JUiyankee..
St, Louis
Leavenworth..,Total
'$68,891,134
$17,222,783
2,494,284
11,802,744
3,702,230
4,091,875
2,457,117
2,230,600
614,279
-557,700
298 630
21,955
338,750
8,117,312
2,029,828
8
2
4,887,236
17,541,498
.4,131,307
2,849,845
8,628,401
769,000
1,221,809
4,885,374
1,082,827
587,211
2,182,100
192,250
326.868
206,002
1,196,695
686.868
89,602
1,355,001
165
$207,621,983
.
'
30
3
...
a
4
6
6
14
8
5
'
•
9,976,938
45,210,975
14 808,919
$51,905,494
269,827
*
1,689,611
3,079,264
.
v
460,178
389,810
1,079,189
liO,827
$26,170,400
620,000
137,984
1,860,922
$4,480,000
445,000
6,756,000
43,289
•
940,000
14,584
973,823
554,463
2,314,765
1,433,606
6,357,644
1,860,821
668,612
$14,055,000
1,946
80,969
•
•
36 5
22u,000
$1,724,516
1 006
*
*
27.1
8 687,905
'5,666
‘
215
2,285
17,772
,
$18,698,9~5
2,037,630
1,112,277
1,632,671
1,8 0,449
112,663
125,000
290,000
510,000
150,000
16,000
600,000
•10,000
19,847
$5,746,779
*
13*535, m
29.9
4,046,782
•
27.3
4,078/M4
24.9
648,148
26.4
338,411
699,871
157,984
31.4
382,470
28 2
28.6
•
1,760,508
29 3
126,786
247,828
80.6
82.7
28
26.2
32.2
$17,287,548
$59,237,464
28.6
789,187
802,356
486,762
*
2,146,870
■t.
m
of the condition of the lawful money reserve (required
National Banking Associations located in the City of New
of business on the 9th day of October, 1869.
Statement
be
Number
of banks
15 per
reporing.
of
cent.
$198,010,349
54
New York.
protected by
a reserve
Items of reserve
8 p. c.
tern era.
as reserve.
$21,333,561
$49,002,687
Office of Internal
Revenue, )
over
exclusive of the direct tax upon
of national banks were, for
assessed and collected, amount¬
ing to $860,235 12, nearly all of which was for taxes assessed and collected in pre¬
vious years.
For the fiscal year 1868 there were refunded $1,018,834 81.
Drawbacks were also allowed to the amount of $1,379,980 01.
No drawbacks were allowed during the fiscal year 1869 by this bureau, excepting
on general merchandise, under section 171 of the act of June 80th, 1864, limited un¬
der the act of March 81st, 1868, to ale and patent medicines, amounting to
$877,411 81. The drawback on rum and alcohol is not allowed by this bureau.
The receipts for the current year are estimated at $176,000,000.
RECEIPTS POE THE PIE ST BIX MONTHS OP THE FISCAL YEARS 1868 AND 1869 COMPAEEP.
A comparative statement is submitted showing the total receipts from the same
Receipts for <he six mos.
$9,637,940 $19,124,462
9,991.224
10.059,456
3,085,475
3,088,311
3.246,659
3,216,675
8.930,693
2,264 589
21 801,114 13,053,615
1,339,065
1,494,376
Spidts
Tobacco
Fermented liquors
Gross receipts
Sales
Income, including salaries....
Banks and bankers
Special taxes not elre where enu¬
merated
5.109,985
611,577
576,394
20,365
773,878
483,271
Successions...
Articles in Schedule A
Passports...
Gas.TT.
Penalties
Net receipts
341,628
13.040
853,116
491,227
7,148,602
6,540,327
from stamps
Total
Total gain for
484,054
$66,110,080 $67,296,888
the above period
Penalties
Net receipts
gained on spiritsis
,
those in the
Gross
Sales
3,084,824
4,276,146
21,738,241
1,996,451
8,080,507
receipts
2,331,089
Income, including salaries....
Banks and Bankers
Special taxes not elsewhere
enumerated
»...
irom stamps
Total
Total gam for
5,289.180
793,447
629,985
Passports
Gas?.....
19,654,484
1,862,753
864,764
Legacies
Successions
Articles in Schedule A
Penalties
Net receipts
13,439,483
8,011,568
8,670,639
2,920,394
Fermented liquors
7,915
1,128,203
772,611
7,606,280
$64,479,948
.
5,127,089
698,617
705,702
641 233
16,413
1,261,890
385,862
Gain.
$16,784,249
4,768,844
91,174,
58,817
1,945,067
2,083,757
138,698
11.248
8.498
134.687
8,850.301
850,516
$90,542,760
$26,866,644
Loss.
■
■ —•
162,091
166,147
87,745
April to September, I860, inclusive
Twenty-six districts for this period, not yet returned,
From
this period
April to September, 1868, inclusive
Ttfal amount for
From
Total gain
of last period,
704,860
827,488
this six months of comparison is not so large by nearly
$6,000,000 as it was for the six months ending the 80th of June last. Tma is ao*
counted for by the circumstance that the old spirits in bonded warehouse on the
80th of August, 1868, when the new law went into effect, were all by operation of
law to be withdrawn from bond and tax to be paid prior to July 1, I860. It is a
fact, however, that the gain on tobacco for this period of comparison exoeods that
for the six months ending June 30, 1869, by $2,000,000, showing a steady and con.
tinuons increase of revenue from this souroe.
The gains on stamps, incomes and
sales correspond very nearly with the gains on these articles for the six months of
comparison ending June 30,1869.
It is to be remembered in referring to the foregoing comparative tables that they
do not profess to give the gross receipts of revenue for the periods of comparison,
but the receipts from the same general sources merely. The reason is that altera¬
tions in the law changed the subjects of taxation during the periods of comparison,
and hence a statement of the gross receipts would not exhibit the relative and
economical increase and decrease of the revenue. Referring to the gains on spirits
that there
cause
enacted.
and tobacco for these periods, it seems proper
say
is every
for congratulation that the law of July 20,1868, taxing these
was
RECEIPTS FROM THE SAME GENERAL SOURCES FOB THE FIRST
QUABTER8 OF THE
FISCAL YEARS 1869 AND 1870 COMPARED.
The following statement of the receipts from the several general sources
rev¬
enue for the first quarter of the present and the last fiscal years includes
returns of twenty out of the twenty-six districts not given in the table
articles
of
the
immediately
preceding, and received since the preparation of that table. The receipts of the
following districts only are, therefore not included in the receipts for the year
1870:—Third Mississippi and Ninth Kentucky, for the month of July; Third Mis¬
sissippi, for August; Eleventh New York, Sixth Tennessee and Fourth Texts, for
September.
Receipts for the first quar/-ter of fiscal year.-v
Sources of Revenue.
$10,017,031
$8,465,443
8,131,298
4,295,074
Tobacco
Fermented liquors
Banks and bankers
Gross receipts
Sales
1,739,609
1,790,002
1,246,286
886,078
1,727,206
1,961,888
8,243,684
13,278,604
1,614,766
1,739,613
2,969,427
11,201,809
278,690
Special taxes not elsewhere enumented
Income, including salaries
Legacies./.
340,861-
205;287
317,984
254,065
Successions
Articles in Schedule A
800,843
8,665
841,128
Gas
Sources not otherwise
herein specially enumerated.
(Articles now exempt from taxation)............
Net receipts irom
1870.
1869.
-
Spirits
stamps
Penalties
£683
400,677
'
-
126,328
8,695,678
874,431
8,393,472
800,402
15B,U1
$46,641,415
Total
$38,620,898
Total gain, $8,020,517, or 20.8 per cent.
It will be seen that the gain on tobacco during this period of
creased and that on stamps is sustained, wlnle that on spirits is fully
allowance be made for the fact that the old spirits in bond had all been
and the tax paid before this period commenced.
The gain on tax of
bankers is likewise more than sustained by this comparison, and the entire
comparison is in¬
sustained, If
withdrawn
banks and
affords
886,749
$802,732
the above period,
THE SAME GENERAL BOTTRCE8 FOR THE
TEMBER 30, 1868 AND 1869.
6,608,630
1,101,601
2,772,911
-
■■ ■ ■— ■
$26,062,812.
distilled spirits during this period
$16,784,249
4,768,844
91,174
2,083,767
*
850,516
134,687
163,693
sustained are legacies, successions and pentitles—special taxes not included under ipirits, Ac.—and these aggregate only
RECEIPTS FROM
7,924,883
Passports
It will be observed that the gain on
of comparison is
On tobacco.
*
On fermented liquors
On incomes.
On stamps.....
From gas companies
From banks and bankers
The only articles on which a loss was
$802,782.
7,220,023
to
$12,000,021 $10,813,663
$1,186,358
to January 1,1869.
A comparative statement is submitted, showing the total receipts from the same
souree* for the last six months of tbe fiscal yeais 1868 and 1869:—
From January to June, 1869, inclusive
$90,642,760
From January to June, 1868, inclusive
64,479,948
Total gain of last six months of 1869 over 1868
$26,062,812
The following table exhibits the aggregate receipts from the same general sources
of revenue taxable under existing laws, for the last six months of the fiscal years
ending June 80,1868 and 1869; also the gain or loss, and gain or loss per cent, of
Tobacco..
746,894
from stamps....
On tobacco
On sales
On incomes
On stamps
From banks and bankers
The gain on spirits during
7,326
it
$25,901,940
11,596
890,498
344,116
875,523
,
79,238
this article for the preceding six months amounted to $68,232; and
should be borne in mind, in considering this loss, that the present system of collecting the tax on tobacco had not gone into full operation prior
EECKPTfl FOE THE LAST SIX MONTHS OF THE FISCAL TEARS 1868 AND 1869 COMPARED.
$2,917,691
665,412
813,253
$102,801,950
$22,880,181 $511,203
$80,643,082
aggregate receipts tor the present year will be increased by the returns from
twenty-six districts, amounting, it is estimated, to $1,516,000. Total gain, not in¬
cluding the receipts from those districts, $22,318,868. If the receipts from the
unreported districts equal the above estimate tbe total gain will be $28,834,868, or
29X per cent.
During this period the gain on spirits is.
$11,001,151
27,623
revenue on
Spirits
70,729
663,285
327,438
Total
234,766
Is
latter over those in the former period:—
Receipts for the last six
/—months of fiscal year.—>
Sources of Revenue.
1869.
1868.
' 7.858 538
$10,677
The
8,747.499
156,311
$9,586,522
608.366
1,666,104
The greatest loss from any one source of taxation for this period was
upon incomes, which amounts to
8,747,499
In special taxes, not included under spirits, tobacco. Ac, the loss was.
1,435;619
It is worthy of special notice that in regard to the receipts from tobacco since
January 1, 1869, and hereafter referred to as being largely increased, the loss of
During Inis period the amount
The amount gained on stamps
Tbe amount gained on sales is
7,787,809
12,945
Passports
$68,232
6,956
2,772 914
2,621,004
2,193,661
652,188
811 827
Gas
Loss.
608,865
80.239 073
074,068
Successions
Articles in Schedule A
1,435,619
107,404
546,220
1,101 601
27,466.102
2.927,499
enumerated
29,984
1,666,104
4,029,100
220,615
Special taxes not elsewhere
62,836
3,674,386
653,624
Legacies
$9,586,522
8,660 950
8,230.832
Banks and bankers
sources
Gain.
8,671,643
3,010,817
Income, including salaries...
66,110,080
Total gain for first six months of 1869
$1,186,868
Tbe following table exhibits the aggregate receipts from the same general
of revenue, taxable under existing laws, for the first six months of the fis¬
cal years ending June 80th, 1868 and 1869; also the gain or loss per cent, of thoee
in tne latter over those in the former period :—
1869.
15,609,252
$11,001,161
6,608.680
8,900,722
Legacies
SIX MONTHS ENDING SEP¬
Lets
-
$24^87.962
Tobacco
Fermented liquors.....
Gross receipts
Sales
inclusive
1868.
Gain.
$13,686,801
Spirits
feneral sources of taxation for inclusivesix mouths of the fiscal years 1868 and 1869:
July to December, 1868, the first
$67,296,888
Rec’ts for the last six mos.
/—of the fiscal year.-
/—ending Sept. 80 .
1$69.
1868.
Sources of Revenue.
rom
Sources of Revenue.
those in the former period:—
November 20th, 1869.
Internal
July to December, 1867,
84.7
following table exhibits the aggregate receipts from the several general
of revenue subject to tax under the laws now in force, for the six months
ending September 80, 1868 and 1869; also the gain or loss or those in the latter
The total receipts from
revenue sources,
lands and the dntv upon the circulation and deposits
the fiscal year 1889, $160,039,844 29.
This includes the sums refunded for taxas illegally
From
litbllitie,
reserve.
$68,019,202
$9,700,000
available
reserve to
The
f
Sib—I have the honor to transmit herewith the tabular state¬
ments made up from the accounts kept in this office, which the Secetary of the Treasury is required to lay before Congress.
* *
Washington,
.
sources
REVENUE.
Treasury Department,
Per cent of
A mount
of avail,
8 p. c. temporaryloan
canidcates.
Clearing House
Specie.
c^rtificafes.
$18,690,641 $18,295,0C0
Legal
COMMISSIONER OF INTERNAL
REPORT OF THE
^
temp, loan
certf s stamp as
Amount
reqnired
11,1869.
by sections SI and 32 of the National Currency Act) of the
condition at the close
York, as shown by the reports of their
,
LiabiMt'es to
-
December
THE CHRONICLE.
m
ample promise of satisfactory future results.
AGGREGATE REC-EIPT8 FOR THE FIRST FIVE MONTHS
1870 COMPARED.
OF THE FISCAL YEARS
The following is a statement showing the aggregate of certificates
ceived at this office from July to November, 1868 and 1869:—
1808.
1869 AND
of deposits re¬
ISM.
$10,990,649
13,900,885
9,760,796
October
November
*..
$21,678,634
10,092,335
9,641 304
July
August
September
Total
table
12,054,2®
13,145,669
$60,886,471
$74,816,704
SPIRITS.
for the laat fix
In considering the large increase of revenue from distilled spirits
months of the fiscal year ending June 30, 1869, the subjoined facts
membered. There were In bonded warehouses on 1st July, 1868, as
should be re¬
shown by tne
accounts kept in this office, 27,278,420 gallons of spirits. This included all claim*
for leakage then outstanding and a large quantity claimed to have been destroys
amountsiwhicn
wereitBl unac¬
counted for.
Under the provisions of the act of July 20, 1868, as amended, all spirits in bonaea
warehouse at the time of the passage of the act were required to be withdrawn anQ
paid thereon prior to July 1,1869;
24,883,961
80,643,082 the tax spirits were necessarily forced uponand by this requirementfiscal year, gal¬
lons of
the market during this
ana
$28,834,868 served, to that extent, to increase the revenue from this source; while on the
$102,861,960
estimated at.... 1,516,000
$104 377,960
by the burning of several bonded warehouses, as well as certain
had previously been withdrawn upon fraudulent bonds and
December 11,
THE CHRONICLE
1869.]
.....
t i«
...
bonded warehouse of the new product only
that the quantity of spirits in bond, to be
and tax paid during the fiscal year ending June 30,1870, is less by nearthere remained in
It thus appears
1869
v-iiitnn* gallons
?«d (“the
X
than the quan
fiscal year
ifcr which
was
compelled to be withdrawn
ending June 30,1809.
TTaJ„»i«riAa furnished
^ithoush
by the diviaion in charge of the subject in this bureau;
the figures m&v not be absolutely accurate, they approximate it so
tLrlv as to be deemed reliable.
cations
^TKlMo June 30,
withdrawn from bonded warehouses
from July 1,
1869, produced prior to July 1, 1868, at 60 cents per ^ ^ ^
jPO^SdprioV to July 1, 1868,* on which tax was paid at $2 per gallon.. * 95,661
Total gallons distilled spirits oid product.
.........
Nunter gallons apple CO
brandy produced prior to July 1, 1868, and
^(UUI/v
linn
A
tfter that
wot*
era
date at $2 per gallon.
w«J£ir oPnallons
B
..24,479,512
tax paid
37*122
'4,518,034
spirits produced irom July 20, 1868, to June SO,
at 60 cents per gallon
.36,704,046
of
1869 on which tax was collected
Number of gallons of grape and
apple brandy, tax paid at 60 cents
uXrtuoM
Total amount on which the tax was collected...
Vnmh*r of gallons withdrawn ior consumption and
37,675,783
62,092,417
-
frim July 1,1867, to
export
June 30, 1868
Oftfais was
which the tax was collected for the
Twin]
which it apprars
fiscal year 1868
1868
55,382,871
for distilled spirits and fruit brandy for
Spirits.
28,296,264
13,419,092
1869*..*.’.’.’!"!.’!.*’.
33,225,212
These figures'show simply the gallon tax. Th«-y do not include iho
Brandv.
$283,499
808,145
871,088
610,111
capacity tax
liquor dea'eis, &c., which are else¬
The rate ot t»x ior three years was
$3per gallon until July 20tb, 1868, when it was reduced to 60 cents.
It is not believed, however, that for ihe year ending June UOlh, 1869, the tax
has been collected on all the spirits which have gone into consumption, or that
ail manufactured, on which the tax was uncollected, have been placed in bonded
warehouse; and it is not doub.ed that the results of the current year will verify
the special taxes of distil.ers, rrctitiers,
where included in the receipts from spirit'.
nor
the accuracy
of this opinion.
RESURVEYS AND CAPACITY OP DISTILLERIES.
According to tie p an of surveying distil.eries originally adopted by this bureau,
the average fermenting period is seventy-nine hours. There have been surveyed
and operated, under the law ot July 20ih, 1868, by this p an, 864 distilleries.
These distilleries have a total mashing and rermenting capacity of 150,155 bushels
grain in twenty*!our hours, and a spirit producing capacity of 473,660 gallons
period. The number ot these distilleries now in operation is 444,
With a producing capacity of 243 410 gallons each twenty-four hours when opera¬
ting to their lull extent. The number now under temporary suspension is 420, wi b
a producing capacity of 230,252 gallons each twenty-tour hours.
Oi tuese it is
estimated that at least fitly per cent, will renew operations during the winter
months. One hundred now running have resumed, with the approval Of the
government, since the 1st ot September last.
Having become convinced that tue average fermenting period heretofore estab¬
lished was much too grea', and was a means or fraud upon the revenue, I have
ordered a re9urvey ot all distilleries in the Uuited States. This worn is now pro¬
gressing upon the basis ot forty-eight hours lor the average lermentmg period
Which it is believed is sufficient time, though, under necessary circumstances and
conditions, longer time may be gi <en.
By this resurvey the following result is obiained:—The present capacity of the
864 distilleries, at sevenry-nine hours’ lamentation, is 473,660 gallons for every
ot
for the same
twenty-our hoars.
By the resurvev, at forty-eight hours’ fermentation, the capacity for each twenty
four hours is estimated at 677,342 gallon*.
The present oapacity of the 444 distilleries now operating, at seventy-nine hours'
fermentation, is 243,410 gallons lor every twenty-tour hours.
Tbs capacity oi the same, by the resurvey, on tony-eight hours’ fermentation, is
848.076 gallons, or an increase of 104,666 gallons for eacu twentj-f ur hours.
The per cent of increase in capaci<y by the new system oi survey is 43-100.
While this action is believed to be just to the nunutacturer, it is expected to
work a large increase of the revenue by preventing evasions of the tax, and in
many instances positive frauds.
LEAKAGE.
The practice of allowing SDirits when taken out of bond to be regauged in order
to deduct the difference, under the title of leakage, between the quantity gauged
when the spirits were received in bond and when taken out, has been a iruit.u)
source of fraud.
This office is in possession of facts showing that the government
has been generally and almost systematically cheated by this practice. Measures
have been taken which it is hoped will result in recovering some of the losses ihus
sustained.
In view of these facts, and with a clear conviction that the act of July 20, 1868
abolished all provisions for leakage on spirits manufactured alter that date, ana
that, by the proper cons ruction, spirits previously made and placed in bond were
no lunger
subject to deductions for leakage, this office issued an order, on the 14th
of April last, dssaUowing leakage in all cases.
It is believed that this regulation works no injustice to the dealer, while it saves
the revenues from fraudulent depletion.
THE LAW AS TO
SPIRITS.
In the absence of reliable data to fix the annual consumption of distilled spirits
we are left to the necessity
of conjecture. Were I to express an opinion on thi
subject I should place the
amouut at not less than 80,000,000 of gallons. Tui
quantity, it the tax were collected, would yield a revenue ot not less than $52,000,000
basing the estimate on the hypothesis that the entire tax on spirits equals sixty-uvt
cents per gallon.
The best consideration I have been able to give this subject has brought me ti
the conclusion that, after the present law taxing spirits has been brought into com¬
plete execution, and such amendments have been made as time and experience
may demonstrate to be necessary to perfect the system, it will yield an annaal revenue
In
of
$60,000 000.
view, therefore, of these probabilities, it is submitted whether it will be wise
expedient for Congress to change us legislation in any essential particular as to
the amount or as to the collection of the tax on distilled spirits until further time
«
sbtUbt given to test the merits oi (he present law in all of its important provisions.
-
693.280 080'
’488804 IK
....590.835 051
99L6S6*984
non bar.
8,474,43*
over
1808, at
half"”*
$1 483 341
TOBACCO 8TAMPS.
A stamp in serial numbers has been
adopted for plug tobacco, adapted
tor all packages of ten pounds aud upwards
This stamp is prepared with a stab*
and the regulations require, in its use, the name of the collector who sells tc ana
that of the manufacturer who uses ic to be written
ernment.
thereon, and consists of seven,
denominations, as follows:—Ten pounds, fifteen pounds with nine coupons, twenty,
twenty-one, twenty-two, twenty-three, forty and sixty pounds. These stamps have
been prepared wich as much skill as possible by the engraver, with the view of
pro¬
tecting tne government from imitations. Toe former stamp for plug tobacco, of
ten pounds and upwards, is known to have been
extensively counterfeited, greatly
to the loss of revenue.
,
$29,198,578
*.”492'78<?TO
* "*^347*443894
Since assuming the duties of this office much lime, labor and expense have been
bestowed upon the preparation of suitable
stamps tor the collec’ion of the tax on
tobacco. An entirely new set ef stamps has been
provided, greatly superior, it ic
believed, to any internal revenue stamps for tobacco previously issued ty the gov¬
54,239,021
"
years isU
100 288:984
•••
an increase of revenue on the article for 1869
the rate of taxation, of
which the tax was collected
37,676,783
Produced during the same period and remaining in bond July 1, 1869... 16,663 838
Y®ar
last seven
an average
Showing
on
The lollowipg table allows the receipts
the four years ending J une 30,1869 :—
theapptoStumoOm■w»nus»iw. wm*
present law there were returned for the year 1869 nearly three times the
with the tax at the uniform rate of five dollars
per th- usand.
The amount of tax collected on cigars was for the fiscal year
July 20, 1888, and prior to June 30, 1869, a period of eleven
months, the number of gallons of spirits, shown by the records ot this
office to have been produced, and the tax paid thereon, was
36,704,046
And of brandy from fruit during the same period.
871,737
8howing a production in eleven months of
Being at the yearly rate ot 59,170,490 gallons,
C|
Cigars
It will be seen that during 1866, when the tax was at a uniform
rate of ten dollars
per thousand, only 347,443,394 cigar* were returned tor taxation, while under the
After
Total
w.
came period was'fifteen per
under the law of Jnlv 20 1M&
tax of $2 37>£ per 1,000
1864, at an average tax of $2 S7J4 per 1 000
1865, at an average rax of $18 20 per 1,000
I860, at a uniform tax of $10 p-r 1,060
1867, at an average tax or $6 00 2-3 per 1,000
1808, at a unitorm tax of $5 per 1,000
1869, at a unifcrm.tax of $5 Der 1.000
year and in bond, July 1, 1868, gallons.. 5.459,704
rocords of this office exhibit lully all the spirits that
wereeo sumedand exported during the two years, that tor the year 1869 the « on
sumption and exportation exceeded that of 1868 to tne extent of 51,155,770 gallons.
These figures are presented not for the purpose of showing the tru« amount ot
production and consumption of distilled spiri s, but to exhibit the fact that, piior
to the law of July 20, 1808, the government did not collect a tenth part of its tax on
_ „
^
;
*
^number of cigars returned for taxation daring the
1803, at
There was produced during the
It would appear, also, ii the
s«stiHftd spirits.
per oent.
chewing and smoking tobacco for the
beiUK realized until after January 1, 1869, while on
menoed immediately after the passage ot the law;
6,709,540
that the amount for which tax was collected for
on
cent; the increased revenue from these articles,
10 936,647
that for 1868, gallons
1809 exceeded
The loss
4,227,101
exported without payment of tax
Balance on
TOBACCO.
.Referring to the comparative statements of reciepts for different periods, so far
as the same relates to
tobacco, I have to say that, during the4|rsts»3i months of
^
1869 the gain on cigars over the corresponding period of the wav
1868 was
t
fifty-six
wLktnliowiDff statement, exhibiting the movements in distilled spirits, is made
.
763
as
The stamps for smaller packages of tobacco have also been
changed, to prevent*
far as possible, fraudulent imitations. These improvements were found to be
and have thus far aided in protecting the government to a large extent,
though it has not been possible to wholly de teat the practices of counterfeiters.
necessary,
THE LAW AS TO TOBACCO;
I
of the
opinion that it will be unwise
present classification of tobacco tor taxation,
am
different classes.
Manufacturers and dealers
to make any material change in
or in the rate ot tax imposed on
the
the
are rapidlv becoming accustomed to the terms and re¬
quirements of the law, and it is believed that less objection will be urged to the law
as it now stands than toaebaugeto
any new system of taxation, collecting the
nei essary amount of revenue trom tobacco, that is
likely to be devised.
Some few amendments to improve the efficiency of the
law, wcich have been pre
pared for this office, may be deemed necessary, and which I thill be ready to oom
municate through you to Congress when required.
REVENUE
STAMPS.
The following table is submitted, showing the net receipts from revenue
from March to October, inclusive, lor the years 1868 and 1869: —
1808.
March
$1,270,095
April
May
1,468,393
1 230 837
June
1125,630
July
August
Sep ember
1095 189
tober
1,307,033
~
1,133 769
1.105 513
stamps
1869.
$1,602 648
1,466,864
1,465,838
1,807 007
1,208,977
1,2-8156
1,250,643
1,271,364
Total
$9,850,461
$10,798 896
during this Six months ur neatly
one million dollars.
Tnis increase, though
Considerably is by no means reckoned
satisfactory. It has resulted mainly from the policy of this office in April last, j*.
quiring all stamps to be so placed on the instrument of writing as to exhibit the en¬
tire tace of the stamp and prohibiting the prac ice which hid obtained
expensively
of covering the supposed half ot one stamp oy the attachment of
another, when,
in
tact, the stamp was cut in two and one half used to represent a lull s amp in
This shows
an
increase in revenue from
stamps
her instance.
The gross itc ipts from stamps for the last fiscal year were $16,420,710.' For the
carrent year the* are estimated at $17,500,000, but it is believed that this tax ought
to yield at least $20,000,000.
The British govermuem collects a much largei sum from the a&me
source, its re¬
coup s averaging from 1865 to 1869, inclusive, over $60 000,000 per annum. Ihu
fact is frequently stated by public speakers aud
journals as an evidence of the great
defect ot oar system; and white there is some rjasun, there is yet more
injustice,
m tois strict comparison.
The British system is not so well understood in this coon
ano
try as >0 make a comparison ot receipts, merely, ialr to us. The une salient point
however, toat «e fail n col ecc as much revenue aB our sys era ou^ht to yield, can¬
not be ignored.
The cause oi this 'ailure. and the remedy 'or it, have received ai
much attention *rom me as ihe increasing labors of this bureau wul permit. ' \
One unboubted cause is that parties frequently omit to stomp instruments
required
to be stamped by law. Thisi> the usuli of negli4»-nc«-, frequently, and o'ten of de¬
sign. A remedy tor t.is won d be found by invalidating all lustrdmen a not stamped
according to law, and by uaaaiug the oeoalty, though comparitiveiy light, at least
t ViC-3 the stamp duty, aad never less than five do.lars where the ommistion
ap¬
peared to be from neglect only, and not design.
am ot opinion iha the mast serious abase in the evasion of the
I
stamp laws is
the fradulent second use of stamps after washing and cleansing them from the
first official cancellation. Various methods for preventing this practice has been
suggested, but none free from difficulty or objection. One plan is the adoption of
the mechanical cancellation. Various instruments have been presented tot this
purpose possessing more or less merit. The objections to this plan are the ex
pense ot the instrument to be purchased and used, and the inconvenience to those
remote irom towns and cities, doing little business and requiring few stamps, who
would be obliged to provide themselves with a cancelling instrument oat ef
propor¬
tion to
their
means
and necessities.
Another plan U to print stamps with a fugitive ink, so as to render it Impossi¬
ble to remove the cancellation marks without destroying the face and body of the
stamp. The favorable and adverse opinions oi experts and chemists as to the
practicability of this plan seem to be a bon; equally divided. It is urged thatafamps
no printed, when subjected to atmospheric action andexposure to
dampness, would
be found to deface so readily as to render them frequently worthless to the
purchaser.
A third plan is to print stamps on a distinctive paper, to be provided by the
Treasury Department for all government stamps, and which, tor rev.enne stamps,
is to be ena nelled and prin ed in permanent ink, not snbjtct to fkde from exposure,
but by which the whole lace ot the stamp wonld be obliterated by an Attempt to
wash off tbe marks of cancellation.
White it is doubtiul it this last plan is feasible, from the liability of the- enam¬
elled stamp to break when rulded, I am nnwUling to express any opinion at present
—as between the plans or in favor ef any one or tbe plans
proposed.
I wonld suggest that it be recommended to Congress to snihorat the Commis¬
sioner of Internal Revenue to send an agent to Europe to examine and become
stainp systems of other governments. In this manner Alone. and
small expense, this government can avail itself of the knowledge which science
and long experience have furnished on this, subject to older governments.
familiar wiih the
ai
INCOMES FBOM INDIVIDUALS.
The total amount collected Oh the annual list ofincomes for 1867 was... .$27,117 967
••»*•••,
»;«99,87fi
•
'i;
ti
754
THE
For 1859 up to November
This last
aam
will b« increased to
an
amount over
CHRONICLE.
25,293,680
$26,000,000.
Aitbia tax expires with the issessment for 1870 it will be ter Congress to deter¬
mine whether we can part entirely with the receipts lrom this source of
revenue;
and if not, whether any substitute can be devised more
just and equitable and less
burdensome to taxpayers.
It the income from this source cannot be spared from the
general receipts, and
other objects cannot be found more acceptable
as a substitute, it is for Congress to
determine whether or not the tax shall be renewed.
In considering this question, after
determining the total amount which ought to
be realised from internal revenue sources, and
considering caremlly wuat will be
realised by the present system, without resorting to incomes, the question will
pre¬
sent itself whether the entire income tax, as new
assessed, shall be revived, or
whether it shall be renewed at a less rate of taxation. My opinion
is, that so long
as a large internal revenue is required bv the financiil necessities
of the govern¬
ment, aportion of that revenue should be collected from incomes. The reasons
for this seem apparent and forcible. This tax reaches
simply the profits of trade
and business, and the iucreased weaith of individuals from
investments.
If the
tax were paid as these profits and accumulations accrue it is not
believed that it
would ba thought objectionable; but, being
required to be paid all at onetime,
and often after the income has been reduced bv the
expenses of the taxpayer or
reinvested in business, it seems more onerous is more
seriously complained against.
The objection most frequently and earnestly made
against this tax is that it
leads to as;stem of espionage into private affairs that is not
only offensive, but
sometimes injurious to individuals.
I do not see why this objection
may not, with equal force, be urged against all
taxes upon personal property. Such taxes oannot be collected
without asc^r raining
the amount of taxable property possessed by the taxpayer.
The law imposing a tax
upon incomes does nothing more than this, if so much.
It simply requires a truth¬
ful and honest statement of the actual income of the
taxpayer during the preceding
year, which can be complied with as easily and with as little
exposure of private
affairs as any other law—national, State or
municipal—whioh seeks to raise revenue
from the personal estate of taxpayers.
.
.
-
.
.
After all, it is but a tax upon the increased wealth of fhe
nation, aDd when it is
understood that government securities are
exempted from
Interest on these securities produces a large amount of the taxation, and that the
incomes of taxpayers,
t submit if it will be wise to abolish the income tax so
long as the labor, industry
and business of the country
are directly or indirectly subjected to any considerable
taxation.
These observations are intended to
to the
income tax shall be retained or abolished, and apply to the questions whether the
rate of the tax or the
not
manner of its assessment and collection.
SUPERVISORS AND DETECTIVES.
The policy of
changing supervisors from
found to be advantageous.
It
one jurisdiction to another has
been
inspires new zeal and energy in the officers,
local embarrassments that tend to diminish and fre¬
their use¬
fulness. This office has
proved of great importance to the service, and should
always be filled with men of undoubted integrity and
capacity, who possess a high
order of general business
qualifications. The present salary is no',
always command such qualifications, and I venture to recommend the sufficient to
propriety and
economy of increasing the salary. The apparent reason for
placing the appoint¬
ment of supervisors where it now rests no
longer exists, and is not likely to again
occur.
I would,
therefore, suggest that the law be amended, so that this officer
shall be nominated by the President and
confirmed by the Senate,
Detectives, as they are now termed by law, are m fact but the assistants of
super¬
visors. The name has proved of no
B!S5?S» «*
of 4116
000,rtI7
The practical nneration of the revenue
pr
laws has suggested
Teau baving
charge of th reBDective branches oi the service to officers of this!*.
P
~
vanous
believed, the collection of the
amendments,
revenue,
law., a inore y.,', c» accoa.pllaha.eDt and se-
"urt in tb^ aditoist^ionef the
tent-and
pur pose
of
of£ffect the general system,
not
cleartomlonbt and
but look
ambiguity
SStoJwtoftteStahedto
_
.
“
The ^cts preceding
known as the Tice m
strength of
and attending the adoption
attending
*
rt.ta.
entirely to an t*.
supplying of
and the
Blm"
a
,a» rs
beIe,Uile,i'
bv this office of the
the qnfvntity end
instrument*
detenningths
arriving at a correct basis of
detecting frauds, by the process of taxation,
registration in sealed and otherwise nrotected
fttherwise prpiecre
safes, have been so fullyautomata
by my predeceswn: as
reported
menti’on of them
to_ren
and also
as means
...
fy,e view of
of preventingand
p
Since first
of
0/7he duties
here.
of this office
have
eorfectlr ascertaining the quantityI and readily
strength
-A*. U. „d itpUtiL
Ke^SuUM^TdUtilW^
tion
to be had from the instruments
tkis direc¬
named above, approved and
recommended
a committee of distinguished scientific
gentlmen, and
my predecessor, with the sanction of the
Secretary of the Treasury. Andadopted bv
it nowb«.
comes my duty to
say that while the Tice meters
appear to have operated we]]
der circumstances in
every respect favorable, under other
circumstances, by which
they must at all tiroes and in all places be more or less
affected, the weight of tes¬
timony before me is 6uch that I have been led to doubt their
sufficiency for the pur¬
poses designed.
In conseqeunce of such doubt and that
distilleries might not be
subjec ed to an expense which is represented te be burdensome
without thegovernment attaining thereby a
corresponding protection to its revenue
accruing from thk
source, I have recently provided for certain
experimental tests with these instmments which will determine their
utility or otherwise, in the light of practical
perience. These tests are now under way and are
ex¬
conducted by
In a manner which can
hardly fail to bring about satisfactory persons who and
favorable to the instrument or not.
results, whethtr
The results thus
anticipated will be made
as
was
they were, by
nn"
known in
earliest time practicable after their
quently relieves them from
supplemental report at the
a
development.
EXPENSES OF COLLECTING THE
REVENUE.
There were paid for expenses incident to
the collection of the revenue
for
1868...
For 1869
Deduct the amount
paid to storekeepers, act of July 20, 1868... $7,394,895
608,918
$8,776,814
Leaving for this year on the basis of the account for 1868
Decrease in favor of 1869
6,785,477
1,991,337
By an amendment to the act of July
20,1868, passed March 4, 1869, the compen
sation of store-keepers
is to be iepaid to the government by the
manufacturers of
distilled spirits and owners of warehouses.
These re-payments are found to be dif¬
ficult to collect, and I am of
opinion that this mode of
paying sU re-keepers should
be abolished at once.
Only $175,785 of the amount expended
by .fie government for
this purpose had been reoaid on
the 30th of Jane, 1869.
The accounts of this bureau do not
advantage to the service, is generally re¬
garded as odious, and for this reason many very
competent men have been unwil¬
ling to accept of the appointment of detective. I am of
opinion that the public
service would be promoted
by changing the name to that of assistant
supervisor,
leaving the manner of appointment, the tenure of office and
compensation as now
provided by Jaw.
-
^December 11,1869.
show precisely the expenses of
revenue tor each
collecting the
year, because the amounts charged
during each year embrace ex¬
penses actually incurred in the
preceding year. The expenses oi the bureau for
the year 1868 were
Deduct the cost of
$567,214
printing stamps, and for rent
PREVENTION OP FRAUDS.
The experience of this office has confirmed
the opinion I
tering upon its duties as to the only means of preventing entertained when en¬
frauds and enforcing
the revenue laws. These
objects, if accomplished,
local officers in each collection district. In this viewmust be attained through the
it was that
deavors were made for the selection of
extraordinary en¬
proper internal revenue
150,006
Actual expenses of the bureau for
1868
officers, with the Expenses for the
$417,214
year 1869
Where the government has placed efficient and
$656,895
Deduct for printing
honest assessors and assistants
stamps, &c
the taxes are assessed without
Actual expenses
256,000
delay
may be said of the collection of the and with reasonable accuracy. The same
400,396
revenue, where collecting officers of like
character are found. With capable and honest
Decrease in favor of 1869
gangers and storekeepers, it is not
perceived how there can be any failure to collect the tax on
Prior to the act of
....$16,819
distilled spirits. It is a
July 20, 1868, no stamps for distilled spirits and tobacco were
fact worthy of note that while it is
nearly impossible for a distiller to defraud the required. This expense has now become an important item.
revenue without the
The commissions allowed
knowledge and privity of either
on the sale of
stamps for 1869 were
storekeeper, or of For 186 8
both, the records of this bureau furnish scarcely an gauger or where
$915,217
instance
one of these
officers has disclosed the fraudulent
805,638
practices of a manufacturer to reform this
branch of the service, a rule has been
Increase for 1869;
adopted to appoint assistant assessors and
gaugers on the recommendatson of
These commissions were at the
$109,679
assessors, and storekeepers on the recommenda¬
same rate
tion of collectors. This rule is adhered
during each year and the increase Is
due to the
to except for special reasons.
larger sale ot stamps daring the year 1869.
Circular let¬
ters have been aderessed to all assessors
and collectors
*********
enforcing the importance of
*
commending proper men only for such positions; and when those officers are madere¬
to
feel that they are responsible
for the execution of the laws in their
that their tenure of
districts, and
office, as well as reputation depends on their
lieved that most of the evils and
success, it is be¬
obstructions will
'
incoming of the present administration.
■
•
be
remedied.
Certainly, I have
by securing the aid of honest, capable and faithful
local offi¬
cers than seems to be
warranted in any or all the mechanical
devices which have
been op can be suggested
for the prevention of frauds in the revenue
more
hope of
success
THE INTERNAL REVENUE
Of the total receipt* of internal
lected from the
following
Spirits
service.
LAWS NOT UNJU8T OR BURDEN80ME.
revenue
sources:—
for the fiscal
year
1869, there
,$45,062,402
Tobacco
.Fermented liquors
Sumps
16,420,710
3,335,617
9121314
2,116,006
sources
25.471,359
Total
The amount from other sources
insurance and express
was
collected from the gross
$160,039,344
receipts of railroads,
companies, from the sales of brokers, dealers and
turers, from special taxes and from penalties and miscellaneous
sources.
It is estimated that at
manufac¬
least ninety per cent
from a few objects and sources, all of which of the entire receipts was collected
may be classed aB luxuries or as the
accumulated and associated wealth of the
country.
It is difficult to see how the
necessary revenue from internal sources can be ob¬
tained with much greater respect for
labor, and with more justice to the common
is secured
by the present law.
It may well be doubted if
any considerable portion of the iax can be
on
objected to
principle or for injuriously interfering with the
manufacturer,
high. It is the fairest tax, the most equal and least burdensome of or being too
the citizen, for it is a revenue
any laid on
paid in proportion to the free
consumption and in¬
creasing profits of the people.
I uesire to add my Opinion that
the pretent
ought, in a short time, if
faithtully administered, to yield a revenue not system the
below
the following sources
following estimate, from
Spirits
Tobacco
Fermented liquors
Iacomes, salaraies
and schedule A
Banks and bankers
Legacies and successions
Gas companies
Total
If these conjectures
imited to. still fewer
AT LONDONNOV. 26.
ON—
TIME.
Amsterdam...
Antwerp
2,434’593 Hamburg
Schedule A, and passports
Gas companies
Stamps
EXCHANGE
6,099,879
34,791,856
Banks and bankers
Legacies and suecesiaons
industry than
RATES OF EXCHANGE AT
LONDON, AND ON LONDON
AT LATEST DATES.
23,430,708
Incomes and salaries
From other
were col¬
Cateat iilotutarp anb (ttommercial
®nalist) News
$66,000,000
35,000,000
8,000,000
Paris
Paris
short.
tt
6.26*@ 6.27*
1.20* @ 1.20*
it
....
Cadiz
Lisbon
Milan
Genoa
tt
48* @ 49
90 days.
51* @ 62
Smonths. 26.85 @26 90
tt
“
Naples
tt
New York....
Jamaica
Havana
Rio de Janeiro
Babia
“
@
@
'
“
“
—
_
days.
it
Madras
At
Calcutta
4s6*d
* p. c. dis
1* 11 *@*<*
it
u
8ydney
80
days.
Is ll*<ft*d
1* 11 *@*<Z
* p. c. dis.
f From
oar own
—
Nov. 26.
3
25.16
@
@
-
-
-
tt
tt
short.
Nov. 18. 90 clays.
—
124.40
moB
««
6
23*
119*.
50.10
—
—
Oct.
Oct.
Oct.
Oct.
Oct.
Oct
BATE.
—
—
—
—
8.
ti
Oct.-lJ.
--
Bombay
it
Oot
--
—
Ceylon
25.20 ®
13. 7*@
INov. S6. 60 days.
tt
—
it
short.
ehort.
short.
At
—
—
60
11.30
tt
Nov. 26. 60 days.
—
Valparaiso....
Singapore
Hong Kong...
snort.
—
—
Pernambuco..
TIME.
Nov. 26.
25.32*@25.37*
25.15 @26.22*
8months. 12 67*@12.72*
Vienna
40,000.000
20,000,000
3,500,000
4,000,000
2,500,000
LATEST
DATE.
BATE.
short.
li 18*@11.18*
8 months. 25.37*@2o
42*
It
13.10
It
Berlin
Frankfoit
EXCHANGE ON LONDO*'
15.
26.
18.
26.
60 dav*.
fimos.
tt
AA
At
30.
26.
Oct. 26.
Sept- 12.
*t
AA
80
days.
108J6
15
19*
19*
m
48. 6X*.
0.6 *</.
par to* p. c. dis,
Is. 11 Kd.
is. n%d.
U. li*d.
* p. c. pm.
Correspondent.!
London, Saturday, Nov. 27, 1869.
exception cf the com trade, very little of interest has
$173,600,000
are well founded, after a brief
period the-excise tax can be transpired in any department of bieiness daring the present week
objects of taxation than at present, and those
such as all
Quietness is Ibe more prominent characteristic of most branches oi
With the
THE CHRONICLE.
December 11,1869 ]
week, and at the close is fully as firm as on any previous day. Producers have got pretty well engaged up to the end of the year, andi
although they are not unwilling sellers for distant delivery, at full
prices, they now require an advance on ^last week’s rates for early
delivery.
it is very evident that auch a position of affaire will
continue until the year shall hive been fairly passed, and its affairs
pretty completely arranged.
The failure has been announced this week of Messrs. James Pim <k
Co., an old establ shed house in the corn trade, having an establishment
at Dublin, with branches at Liverpool an 1 in London.
The liabilities
are esti bated at £200,000.
This announcement has caused some
anxiety to prevail with regard to the inherent soundness of the trade,
hot as yet it is not feared that the stoppages will be very numerous or
considerable. It is evident, however, that the losses in this department
of business since the commencement of the season 1668 and ’69 have
been very large.
During last season, there was an unexpected fall in
the value of spring corn. Barley, it will be remembered, suffered to
the extent of SO per cent., and there was also a heavy fall in the value
trade, and
There has been increased
loss
the demand for accommodation
expected and unprepared for that the importers become losers on their
List year’s wheat crop was so abundant that a
fall in prices was inevitable, and
merchants here naturally
operated in accordance with their convictions with regard to
the future course of prices.
With regard to spring corn, the
case was very different.
The crops here, owing to the protracted
draught, were very deficient, and the result was that not. only did the
season open at high prices, but the belief was general that those quo¬
transactions.
maintained.
There will, of course, be the usual
been dismissed.
activity in
during the cLting week of the year ;
but the Baok authorities, from such a cause, are not likely to effect an
alteration, notwithstanding that accommodation may not be procurable
elsewhere under the official sale. At the present time, the exchanges
are favorable to this country, and there is no demand for gold for ex¬
port. About half a million sterling of gold is due at the close of next
week, and present appearances indicate that the greater part, if not the
whole, will be sent into the Bank. It is mentioned, however, that
more money is wanted in the manufacturing districts, and, consequently,
the country bankers are calling in their loans. This is a good sign, but
at the same time it must be remarked, as an eviderce of the quietness
of trade, that the discounts at the Bank of England have further de¬
ceased this week, and are only about £16,000,000, which is a lower
now
But it
always follow that because a heavy fall has taken place that
must be the inevitable consequence. It is when the fall is un¬
tations would be
in >the money market, and three
negotiated as low as
to 2| per cent. To¬
wards the close of the week, however, there was a better inquiry, and
the open market minimum was not under
per cent. All speculation
of a farther rise in the official minimum within the current year has
does not
a
ease
months’ bills have been
Oats, beans and peas were also much lower.
of Indian corn.
755
sum
High prices, however, brought forward
are
period last year, and also than in 1867. The following
quotaiiors for bills having various periods to run :
than at this
the
1868.
1889.
1869.
1868.
larger supplies of produce than where anticipated, in consequence of
Per cent. Per cent.
Per cent. Per cent.
which prices rapidly declined, ani heavy losses were the result. This Bank minimum.... 2)4®... 3 ®..
4 months, ba’k bills 3 @... 8 @3}4
6 months’ ba’k bills 3 @... 8*®8*
Open-market rates:
year, the loss ha9 fallen upon the importers of wheat more than on the 80 and 60 days’ bills 2)4®
8)4@4
2)4®... 4 and 6 trade bills.. 8*®4
2*@2* 3)4®...
importers of corn. The crops here being only about an average, it was 8 months, bills
believed that prices would tend upwar e as the season progressed.
The following are the rates of interest allowed by the joint stock
This feeliDg on the trade induced :he merchants to send out large banks and discount houses for deposits :
E ;
1
gl
..
orders to the
Atlantic
United States and elsewhere, and
with the aid of the
’68.
’69.
’68.
1)4
1)4
Joint stock banks
Discount houses, at call
2
2
Disc’t houses, 7 days notice, 1)4
14
do
do
t
*69.
1*
quickly felt in our markets. TJie large
8*
The comparative high rates of interest in Germany h still without
Lreign supplies of wheat, which we have received here, completely
changed the aspect of the trade, and the place of steady markets, the any effect on the position of the Bank of France. The supply of bul¬
demand for all kinds of grain has been charac.erized by extreme heavi¬ lion held by that establishment continues very large, and has increased
ness.
Taking the two seasons together, it is manifest that the losses this week to the extent of £520,000. With the exception of a decline
must have been great—last season, on the importation of spring
corn, Of i per cent, at Bremen, the rates of discount on the continent have
and this season on that of wheat. It must, however, be borne in mind not materially
altered during the week. The following are the quota,
that in the season 1867-S, and previously, the profits made in the corn tions at the lea iing cities :
r-B’k rate—> #—Op. m’kt-,
r-B’k rate— r-Op. m’kt—,
trade were very great, and consequently, the merchants are still able
1868.1869.
1868. 1869.
1868.1869.
1868. 1869.
8
6
Turin
5
to withstand some pressure on their resources. It is to be hoped that At Paris
13*
2)4 2)4
2
Brussels
2)4
2)4 2)4-9 214
Vienna
4
5
4
6
some recovery will soon take place, for unless there be some improve¬
Madrid ...5
5
—
5
5
2)4-3
Berlin
4
-154
Hamburg. —
—
1)4
4)4
1)4-2
Frankfort. 2)4 4
4
ment, the aspect of the trade will assume an unfavorable position.
St. PetVg. 7
6
6)4 8
Amst’rd’m 2)4 5
2)4
4*
The failure of Messrs. Pine has compelled another Dublin house to susThere is ecarcely any demand for gold for export.
Bar silver is
pen 1 payment. In this case, the liabilities are estimated at about
cable, the effect
was
—
..
...
quieter, and ha9 slightly
£30,000.
Our
about
imports of wheat declined last week to 624,849 cwt., which is
800,000 cwt. less than the largest weekly import of the season.
Whep.t
Oats
’
heas
Beans
Indian
lour
1
corn
SINCE
Barley
....
Oats.......
1 410,583
2,227,890
Peas
198,926
Beans
879,493
Indian
Flour
com....*
5,737,629
1,616,115
following figures show the average
barley, and oats in England and Wales, for
the fmr previous year
The
1R69.
46S. 81.
8
38
1863.
61*. 6d
3
47
4
28
2,545
6,374
8,673
446
2,051
4,043
2,277,233
1,755,240
285.786
831,069
3,135,045
819,659
21,499
18,118
8,309
511
125
10, <62
prices of Boglieh wheat,
last week, compared with
1S67.
68s. III.
41
5
25
8
which prevailed in the Money
that no loan will at present be
to the ease
1866
57s.
fid.
6
45
9
23
1865.
463. ,10d.
0
34
9
22
Monday. Tuesday. Wud’ay. Thu’ay
Nov. *0.
Consols
Fri’ay.
93 *-94
193*4-98)4 98*-91)4 93)4-93)4 9J*-94* 83*-84
83*-88* 83* 88*
83)4-83* 88)4-81* 82 -83 82 -83 82 -83
U. 8. 5-20’s, 1883
...
J. 8. 5-20S, 1834.
*..[32 -83
82
.-83
&at*day
93*-93*
93*- ..
82
-88
82*-83* 32*-82* S2*-8i*
U. S. 5-208, 1885
182)4- - 82*-82* 84 -84* 84*-84* 84*-84* 82*-82*
84*-....
84 -84*
U. 8. 5-2i'S, 1887.. ,.i84 -84)4
78)4-73)4 78*-78* 78*-.... 78*-78* 78*-78*
C. S. 10-408, 1904.... 7834-....
Atlantic & G’t West.|
25*-25* 25*-.... 26 -.... 25*-26* 8**- ...
consol’d mort.b’dsj 25)4-26
20*-21* 20*-80*
Erie Shares ($100).. 30)4-20)4 20*-20* 20*-20)4 2l*-21* 99 -100 99 -....
U'inois shares ($100)199)4-100 99*-.... 99 -99* 99*-....
for £2,500,000 has not proved
A moderate amount of business has been transacted in cotton this very successful. It has succeeded, however, inasmuch as up to this
afternoon about the whole has been tendered for, but considering the
week, but as produce has been freely offered, the quotations Are rather
lower. Of the present etock of cotton in Liverpool, 6.88 per cent, is cheapness of money, aoi the security which is offered, the result is to
a certain extent disappointing.
The loan is a 8-} per cent, stock, and
Barley.....
Oats
5
The
Metropolitan Board of Works loan
American, [against 8.83 per cent, last year. Of Indian cotton the
the price is 94|..
; ..
proportion is nearly 79 per cent, against 80 per cent, The trade of
The following return shows
Manchester is steady, with a fair deman i Jgoing on
t the
£l
....
....
heat
ing the week.
,
s
,
Barley
Stock Exchange dur¬
The Consol market was firm in the earlier part, owing
Market, and to the announce¬
required for taking over tb#
ment
telegraph companies on the first day of the New Tear. During the
last two days, however, the market has been much weaker, in consequence of the unsatisfactory condition of affairs in Ireland. Spanish
securities have been subject to numerous fluctuations. On the an¬
FOR THE WEEK ENDING NOVEMBER 20.
nouncement that the dividend would be paid when doe, the market
1869-89
1869-70
Imports. Exports became firmer, but there has since been considerable flatness, owing
Imports. Exports.
$418
cwt.
6*4,349
611,652
1.418 to the difficulties which are in the way in reference to the selection of
78,883
195,964
5,573
823
205,709
624
351,857
1,540 a king. Five twenty bonds have been firm, and have not materially
278
338
13,557
42,380
9,604
423
40,516
5 altered in price. Erie Railway shares have been flat, and a slight fall
218,705
442,204
108
3,009 has taken place in tbeir value. Atlantic bonds are steady. The
78,92S
54,680
highest and lowest prices of consols and of the principal Amencan
THE COMMENCEMENT OT THE SEASON (BEET. 1).
cwt. 11,002.972
74,391
6,929,161 121,177 securities on each day of the week have been :
ptice of wheat has,fallen Id to 2d per quarter, and other
descriptions of grain have fallen to a similar extent. The first two
ships with new California wheat have arrived at Liverpool from San
Francisco this week.
The following are the particulars of the
imports and exports of cereal produce into and from the United
Kingdom, for last week and since September 1
This week the
declined in value ; but Mexican dollars, owing
scarcity, are very firm.
There has been no increase of business in the
to their
the present position of the
Bank of Eng
f
[December 11, 1869.
’66
price of Consols, the average quota¬
tion for English wheat, the price of middling upland cotton, and of No.
40 mule yarn, fair, second quality, compared with the four previous
land, the bank rate of discount, the
years:
>
£
Circulation, including—
Bank post bills
21,215,73S
Public deposits
6,544,882
Other .deposits .... 12,471,621
Government securities 9,741,100
Other securities
18,960,610
Reserve
8,557,233
Odin and nullion
14,628,945
23,815,544 23,899,405
6,044;482 -6,427 596 4,4$6,835
18,262,795 ,19,232,770 18,103,000 17,798,714
20,006,009 24,104,745
4 p.c.
90
57s. Gd.
18.256,687 18.566,181
3 p. C.
2XP- C.
94
94# <
51s. 6d. 46s. lOd
7#d.
.
ll#d.
ll#d.
Is. l#d.
Is. #d.
Is. 8d.
10,740,506
10,013,382
2 p. C.
95
68s. lid.
14d.
.15,611,305
; 16; 66 2,170
;
3s. 3#d.
quality
15,074,874 13,811,963
12,846,863 12,319,203
IP, 186,COS 16,623,914
10,688,820 13,507,208
18,176,670 22 058,568
20#d.
liQd. Upland cotton...
40 mule yarn, fair 2d
Is. 2#d.
Cable*
daily closing quotations in the markets of London and Liver¬
pool for the past week, have been reported by submarine telegraph as
The
shown in the following summary :
ruled without
and Stock Market.—-Consols r have
United States five-twenty bonds at London have
generally ruled quiet and steady, closing at 86 for its issue of 1862.
Railway shares have also been steady without material change.
variation cf
-
price.
44
TT
85#
100#
86X
99X
8. 6’s (5 20’s) 1862..
Thu.
92#
Fri.
92#
92#-#
92#-#
»2#-#
92#-#
8 #
86
99#
85#
99#
20#
26#
20#
26#
20
Srle Railway shares ..
Atl. & G. W. (consols).
Wed.
20#
99#
20#
26#
Illinois Central shares.
26#
26#
The daily closing quotations for
of cotton.
steady until
Liverpool Breadstuffe Market.—This market remained
to-day, when prices became depressed and closed easier.
p.
Wheat (No.2 Mil. Red) p.
44
R< d
inter
ctl
(California
44
white) 44
Corn(W.mx,d)p. 480 lbs n’w
“
8
6
2
9 11
29 6
9
'
Thu.
Wed.
s. d.
22 0
Taes.
s. d.
22 0
8 6
9 0
9 10
20 6
Mon.
s. d.
22 0
Sat.
e. d.
22 0
8 6
0
2
9 11
29 9
bbl
26#
90'#-#
90#-91
91#
Liverpool Cotton Market.—See special report
Flour, (Western)
99#
20#
U. S. 6’s (1862) at Frankfort were—
91#
90#
Frankloit
92#
Tues.
>
92#
82K-K
for account...
92#
c6
Mon.
Bat.
MX
Consols for money
b.
8
6
0
9 Hi
29 3
9
d.
0
4
9 10
9 9
28 9
d.
(Canadian), per bush
(Am. & Can.)per 45 lbs
9 10
0
29
39
33
0
38
0
38
0
0
88
0-
—Pork has ruled flit, and declined
Liverpool Provisions Mai
to 110s. per tierce.
The other articles in the reportei list are without
change from last week’s closing rates.
V.'.
v-.
g. d.
Beef(ex.pr. mess) p. 304 lbs 107 6
$
_
Pork(£tn. pr.mess)d804 lbs fit 6
Bacon(Cumb.cut) p. It21bs 67 6
Lard (American)
44
75 6
„
“
44
Cheese (fine)
68 0
6
6
6
6
0
107
111
67
75
68
107
' 110
8.
67
75
68
6
6
0
6
110
67
75
00
0.
d.
107
d.
6
8.
Fri.
e. d.
Thu.
Wed.
Tues.
8. d.
Mon.
8. d.
107 6
111 6
67 6
75 6
68 0
Sat.
5 «>, ••
0
6
6
0
107
110
67
75
63
6
0
6
6
0
Liverpool Produce Market. —The different articles under this head
have ruled steady, and with but one or two unimportant exceptions}
close the
same as
last week.
Sat.
d.
s.
Rosin (com Wilm).per 112
< *d©
:F4nePale...
44.
5
14
23
lbs
8p turpentine..
44
Petroleum (std white).p. 8 lbs.
ft
.spirits....per8 lbs
1
1
46
..
Tallow '(American). ,p 112 lbs.
Clover aeed...^...,„-. .......
•
i
1
-J
i
.
Linseed oil
f.
*
.«
..
•
6
0
0
8#
4
0
Mon.
s. d.
5 6
14 0
28 0
1 8
1 4
45 9
•••
•
Tues.
8.‘ d.
5 6
14 0
28 0
1 8
1 4
45 9
5
14
28
1
1
45
Fn.
d.
Thu.
6. d.
5, 6
14 0
28 0
1 8
1 4
Wed.
d.
6
0
0
8
4
9
8.
‘
45
s.
5 6
28
1 1
45
9
0
8
4
9
810 0
Fri.
31 0 0
Tb.
31 0 0
Wed.
81 0 0
£onddn Produce and Oil Market*.—Calcutta Linseed closed dull.
Sugar has exhibited more life, and closed firmer, though not quotably
ligber, for both on the spot and afloat. Oils are unchanged.
Mon.
-
Thu.,
Wed.
Tues.
;
FH.
i
J7 0 £10 17 0 £10 17 0 £10 17 0 £10 16 0 £10 16 0
0 59 0
0 59 0
0 60 0
0 60 0
0 60 6 0 60 6
t IiBS?dcake(obl)p.tn£10
Linseed (Calcutta)...
SugarCNo. 12 Dch std)
perll2
89 6
Bpefmbil..;.86 0 0
88 10 0
Whale oil
.89 6
86 0 0
88 10 0
39 6
86 0 0
39 6
86 0 0
38 10 0
88 10 0
89 6
86 0 Q
38 10 0
0 39 6
86 0 Q
88 10 0
ft ‘f
'•how
Exports
»V «
for
the
Week.—The' imports this
week
against 14,182,697 last week, and $8,148,661
k v |
■VajvVI*|*yy
ww y v»|
Itetf past week
AUv
^9al«
v««v j/tv I4VU)|
bl
bale»,against 10,002 bales last
the imports at New York for week ending
or dry goods) December 8, and for the week ending (for general
merchandise) Decebber 4:
; u
*
Of
cotton
Were 14,604
The loltbWing are*’
.
•’
FORBlSN IMPORTS AT HEW YORK FORTH! WISH*
♦
f;t
1886.
-
1
1367.1
■
Dry goods...... ...... $1,482,880
General merchandise..
6,196,052
f471,886
,715,886
Total for the week,.*-. $4,628,268
$2,187,178
our
XXV YORK FOR THB WEEK.
EXPORTS FROM
1866.
1867.
1868-
$3,101,416
For the week
$4,628,013
$4,020,901
175,050,fc21
$178,485,338
Since Jan 1
152,871,364
181,214,673
$185,627,995
from this port to different countries (exclusive
The value of exports
specie) since January 1, compared with
shown in the following table :
of
the corresponding time of
last year, is
Since Jan. 1,
Same time
1869.
$100,668,659
$74,lim7
5,091,849
Great Britain
France
Holland and Belgium
4.812*403
7,001,902
.
8,-80 493
16,6621761
20,017,715
Germany
3,895,248
Other Northern Europe
1,616.76s
2,761,602
Spain
2,076,780
8,288,841
Other Southern Europe...
East Indies
China and Japan
5,800.104
2,525,003
2,086,941
3,390,589
lul’ww
66,029
.’
Australia.....
Britisn N A Colonies
2,284,290
4,828,302
6,772,968
4,864,275
Cuba
939,967
Hayti
Other Wert Indies
Mexico
New Granada
....
1,835,861
7,266,741
", 1,343,308
2,613,237
7,634,522
1,681,702
4JJ66,868
^7,5o8
LJ24,641
Venezuela
650,815
„
British Guiana
Brazil
DtherS. American
All other ports
1,869,981
8,219,778
8,849,t97
4,305,561
1.925,452
ports
following will show the exports of specie from
Dec. 4, 1869 :
The
18C9.
$4,413,422
$179,678,834= $156,892,265
175,383,922
Previously reported....
3,440,300
1,396,211
the port of Net?
York for the week ending
Nov. 30—Str Silesia, ParisGold bars
Noy. 30—Str Silesia, Ham¬
$26,989
burgForeign sliver....
Nov. £0—Schr ». C. Noyes,
1,200
Dec. 2—Str Un’on,LondonSilver bars
2L $102,476
Mexican dolars.
4,ICC
Dec. 2—Sir UmoD, Pads—
Mexican dolais..
1,8C0
Dec. 2—Str * nion,Bremen—
Fore gn
Para—
1,C00
American gold....
Dec. 2—Sir Union, South-
‘
*
filver....
L'verpool—
British gold
amp ton—
Gold bars
r
.
$190,489
30,346,346
$30,536,829
Total since Jan. 1,1869
| Same time in
Same time in
.$69 354,396 | 1859
45,888,574 { 1858.
59,149,044 1 1857.
27,805,529 11 1856
46,618,893 11 1855
..
«•••
*.
; [68,480,430
25,016,787
.•••••••••••••
40,950,601
.
...
.
1864,,
.
.
»•»
1861.
1860
as
35.391,383
^
1868
The
24,425
27.239
Total for the week
1862.
1,206
Dec. 4^-Str city of Bruasete,
.
...
.
46,266,834 1I 1854.
57,232.996 11853....
3,343,237
42,090,909
11852..
imports of specie at this port during the past
week Lave been
follows:
PlataGold
$1,000
Gold
Nov, 29—Str Tybee, Porto
Dec. 3—Str Fahkee, Hamil¬
$1,100
Dec. 2—BkCarib,St.Croix—
ton-
4,C00
Gold
$6,100
Total for the week
,.14,870,762
$14,876,852
Previously reported...'
Total since January 1, 1869
Same time 1868
Same time 1867
Same time 1866
.. ..
."
6,701,115
8,032,610
9,421,809
The Detroit Free Press has the following in regard to tlio
Peninsular Railroad, from a special correspondent :
The regular trains on the Peninsula Railroad commenced running to¬
h,f ij
.
i
1868.
0/5
day, from Battle Urtek to Bellevue, twelve miles.
This morning the
number of
company give a free ride to Bellevue and back to a large
the residents of Battle Creek, The road is laid through good agri¬
cultural lands and well improved fauns.
The enterprising Village of Bellevue has a twelve-foot
power
on the Battle Creek river, which runs a flouring mill with a capacity of
SOORorSe power per day; besides idoiDg a large amount of
a
saw mill that has cut 700,000 feet of lumber per year, and a steam
saw mill ?tf similar capacity.
The village has all the different
varieties of mechanic shops, and among a cupola furnace, and a steal
water
gristing;
There art two hotels, four dry goods stores, that brin,
ihe market $150,000 worth of goods per year, two hardware store*,
one of them a very large establishment, and six grocery stor \
tbs
resources for building up Bellevue to a city are the good agricultural
and horticultural foods'{fiat surround it, the immense motive power,
and above all the lime quarry that crops cut for three miles up and
down the river through the village, and from half a mile to a mile
wide on each side of the river, of the very best quality in the State.
An immense quantity of the stone has been burned at the different
kilns, and the Kme wagoned to Marshall and Battle Creek, and this
has given extensive employment for thirty-three years. The lime
burners have in different places' worked into lime seventeen feet of
surface or shell rock' and come down to thick layers of hard ^building
stones, that tajees fa good; polish. It is now valuable, with railroad
./acUities to place it is wanted on the line of the Michigan Central
Railroadp bufc would not heretofore pay with the twelve miles of
wagoning. lTfr«re * %UI always be large amounts of burnt lime and
buttling stone shipped from Bellevue, and there is an amount that will
to
increase in both dry goods, and in general merchandise, the
an
iatM
report of the dry-goods trade will be found the imports of dry
goods for one week later.
The following is a statement of the exports (exclusive ofspecie)from
the port of New York to foreign ports, for the week ending Dec. $ • - >
In
flouring mill.
COMMERCIAL AND MISCELLANEOUS NEWS.
and
$273,967^
14 0
• •
• •
»:•.*
Tn.
81 0 0
Mon.
Sat.
oai,.
Sat.
$233,002,354
—
ton... 81 0 0
per
$226,265,919
2*ii
2*ii
2*ii
2*ii
3**6
3
89
Peas..(Canadian) pr604 lbs
i
$280,694,153
Since Jan. 1
'
Previously reported
Bariev
Oats
268,445,761
s.
22
8
0
6
0
22
8
9
Fri.
old
44
228,108,117
To
Bnffllsli Market Reports—Per
LI London Money
224,678,747
6,161,15?
6 p. c.
89#
4Cs. ltd.
Bank rate
Consols
Price of wheat
1869.
£
1868.
£
1867.
£
1866.
£
18G5.
,
Previously reported... 265,965,871
.1931,608 .
ttfs
*4?
$4^99,98t
$5,62^9 •apply all demands for a great length of time.
-THE CHRONICLE.
jjDecember 11, 1869.]
bad six cars on the excursion train and all loaded to
their fullest capacity. The cars were similar to those used by the
Michigan Central Railroad Company, and one of them fully equal to,
the celebrated palace car No. 56, that was tuilt and used by the Mich¬
igan Central. The road is as well built and ballasted as any new road
jp the IState. Their T rail is of the beBt English iron, fifty-six pounds
to the yard, of the latest improved pattern, with fish plate connections.
The company has 1,300 tons of iron in Detroit and 1,800 tons on the
way, all by railroad, to this place. This amount, with what they have
on hand, will iron ihe mad to Lansing.
It is expected, weather per¬
mitting, that the company will run regular trains from Battle Creek to
LanuDg in the month of January next. Two first class locomotives,
equal to the one they now have, are on the way from locomotive works
at Philadelphia.
A large amount of cars are now building in Detroit
for this compary, in addition to the forty-five cars they now have.
This railroad company has some of the most energetic men in the State
who are putting it in operation as^ fast as men and money can do it,
and all the cash capital i9 on band that is needed to do it. It is
expected to be in operation from Chicago to Tort Huron before the
757
Friday Evening, December 10.
The company
fi
he
been
Money Market.—The
steady.
the last bank
of
course
the
Money Market has
The decline of $2,200,003 in legal tenders shown in
statement, proluced a rather cautious
feeling at the
commencement of the
weed
the banks have been found
but
notwithstanding, the
fully equal to the wants of
,
means,
of
and the week closes with
comparative ease. On call loans, tharata
generally 7 per cent, with a good range of exceptions at
6 per cent.
The remittances of currency to other sect;on3 have been
quite
nominal; and some moderate amounts have been received from Chi*
cago. At New Orleans e<cnange on New York has been quoted
during the week
per cent premium; but yesterdayiit sud¬
denly changed to £ per cent discount. At present there is little ex¬
pectation of any important further amounts of currency being sent
close of the year 1870.
West, in connection with the pork movement, although some of the
—The card of Messrs. Lockwood & Co., Bankers, at No. 94
banks, in view of the large amounts of paper they have re-discounBroadway, will be found on the first page. We believe that few
ted for the Western banks, do not
firms have ever met with misfortune in business in this city,
wholly sympathizi with this ex¬
who had more sincere sympathy from their cotemporaries than
pectation.
Messrs. Lockwood & Co. And our readeis will recognize again with
In discouuts there is a rather easier
feeling. The amount of lo¬
pleasure their familiar name among bankers cards in our columns.
cal paper offering is not so large a3 of late.
—The card of Messrs. Foote, Vibbard & Co., dealers in Steel
Bat the failure of a
and Iron Rails and old rails, will be found on the last page. The
dry goods jobbing house at th3 beginning of the week, and whispers
name of Mr. Chauncey Vibbard is familiar to railroad men as the
former General Superintendent of the New York Central Railroad, against the standing of other firms have somewhat stimulated the
and the other gentlemen of the firm are also well and favorably prevailing caution, and rates are consequently maintained at the
known in New York.
late high figures; prime double signatures are discounted at 9@12
An Eight Per Cent Gold Loan.—On the fourth page of this
per cent, and prime single at 12&20 per cent.
Reports current
number of the Chronicle will be found a notice of the First Mort¬ yesterday and to-day of the failure of a prominent Boston house in
gage Eight Per Cent Bonds of the St. Joseph and Denver City the dry goods commission business prove to be entirely groundless.
United States Bonds—The bond market has exhibited a re¬
Railroad, of which $1,500,000 (the whole amount authorized) are
now offered in this market at the very moderate price of 97J and
markable firmness in sympathy with the general tenor of the docu¬
accrued interest. We believe that the parties negotiating this loan ments
presented before Congress at its o; ening. The President’s
have determined that it shall be taken in a very short time, and
Message and the material portions of Secretary Boutweli’s report
have therefore offered it on such terms as could not fail to attract were
telegraphed to Europe, and appear to have operated very fa¬
the attention of * every investor. In addition to the high rate^ of
vorably upon the public credit, Sixty-Two’s having advanced at
interest obtained, amounting to nearly 11 per cent in currency,
London about ]£ p?r cent. Mr Boutwell’s recommendation in fa¬
(with gold at 130, which is a fair average,) some other strong points vor of
reducing the interest on the six per cent debt to
percent,
in regard to these Bonds are as follows:
anl of continuing large purchases or bonds in the open
market,
1. The road is 111 miles long, reaching from St. Joseph, Mo.,
has teen the cause of a very active speculative
movement in
to Marysville, Kansas, and having very important connections.
London and Frankfort, in response to which a considerable amount
2. Only $1,500,000 of bonds can be issued, whiok is but $13,of bonds have been sent from this market. T! e Sixes of 1881, and
508 per mile, and certainly less than one half of the cost of con¬
Ten Forties ha/e been in especial demand from the foreign markets,
struction.
3. The bonds are placed in the hands of the Farmers’ Loan and upon the supposition that they will be exempt from the effect of the
Trust Company, and cannot be delivered until each section of five funding scheme of the Secretary of the Treasury. Eighty-Dne’s
miles is completed, and then only at the rate of $12,000 per mile. have advanced 4£ per cent and Ten-Forties 3
per cent.
Other
4. The subscriptions to the cap ital stock have been nearly $2,- issues
range 2@3 per cent higher. The advance has been stim¬
000,000 and this money is being expended in the construction of the ulated, to a large extent, by speculative transactions, in which
road.
some of the stock houses have taken an extensive interest; but,
5. The company has a grant from the United States of $1,600,at the same time it indicates that Mr. Boutwell’s funding pro¬
000 acres of land, and that portion in
Doniphan, Brown, Nemaha ject is not regarded by the Street as wholly visionary.
and Marshall counties, Kansas, is covered by the lien
of this first
The Government purchased on Wednesday- 32,000,000 Fivemortgage, similarly with all the other property of the company.
It is apparent from the facts above stated that this loan is one of Twenties; the total offered was $3,600,450.
The following are the closing prices of leading government
the most attractive ever offered in New
York, and any of our
readers who may have money to invest will certainly do well to securities, compared with preceding weeks :
Nov. 5. Nov. 12. Nov. 19. Nov. 26. Dec. 8. Dec. 10.
examine carefully the details of information given in the advertise¬
118
116
117*
117*
117*
120*
ment on another
114
115*
115*
115*
115*
113*
page, and obtain further facts, if desired, from U. 8. 5-20’s, 1862 coup....
112
U. S. 5-20’8,1864
44
113*
113*
112*
118*
110*
the commercial agents of the loan, Messrs. W. P. Converse &
118*
113*
H8*
113*
Co., U. S.5-20’b,1865 44
112*
ill*
116
8. 5 20’B, 1866, July
54 Pine
115*
116*
114*
118*
street, or the fiscal agents, Messrs. Tanner & Co., 49 Wall U.8.5-20*a, 1867, coup cpn 116
U
116*
116*
115*
116*
114*
118*
has been
....
street.
U* 8.6-20’b,
1868,
XAMK OF COMPANY.
cent.p’y’ble
Railroads.
■Pennsylvania'
Ceoi. (Ohio) com. & pf.
NAMM OF COMPANY.
Telegraph.
Western Union
.
Dec. 23.
Jan. 19.
Jan. 16.
Dubuque
& Sioux
“
“
extra.
Boston & Albany
N. T. & Ear. com. &
pf..
Iifxrj
:
»
Litt-e Miami
_
~
•
vwu*.
w
-a
.
o
Jan
Jan.
Mining.
1.
8.
-
Dec. 8
WHEN
1862,
44
Jan. 20.
8
Dec. 16.
4
6
Jan.
8.
Jan.
8.
3* Dec. 15.
cou.
■
1864, reg
44
2
$,1012,000
90’s of 1863, reg
“
cbnt.p’t’bus
’
1864, cou,
1865, reg...
1865, cou
44
.
Total Bonds
& Sioux City RR
Peoria & Warsaw RK, let pref
Toledo,
National
,
Dec.
.....Dec.
•
•
•
„^eveland& Pittsburg... ... and preferred
«ew York A.
Harlem, common
.....Dec.
«•••••«
UonBolidatianroHi.......
.■Maryland Coal Co
Dec.
Dec.
Trust Co
Berdan Fire Arms Co
Western Union Telegraph
-
....
1 to Jan. 17.
20 to Jan. 1.
20 to Jan. 4.
20.10 Jaru:.4.
20 to Jan % St.
.....Dec,, ilia
.
•
1867,xou
t
?
4
now
held
3,500
220,000
16,250
346,950
..-.Dec., A to;Jan. 6.
•.•'.Dec.• -1.to Jan* 4.
Dec. 1 to Dec. 14,
107*
44
41
im
Deo. 8
$166,300
*
813*600
7T,700
90,100
’68, reg.....
’68, cou............
U
’9,M0
'
’67rCou...
....
by the Treasury, $79,844,000, as follows :
m
5-20’s of 1S62, reg.......... $10,201,650 5-20’b of 1865, new, reg..., $4,633,55
44
44
*
1865, sew, COU ...,22,659.600
1862, cou.
i 71.000
44
1867,; re?...
1864, reg.
4,629,800
*...; 3,966,800
44
Dubuque
U8*
10T*
107*
5-20’s of ’65, new, r
•4
’65, new, c
44
’67, reg..;.*
44
:
COMPANY BOOKS CLOSED.
,
114*
107**
in
1
44
Consolidation Ubal
Miscellaneous.
Nat, Trust Co..
Berdan Fire Arm Manf.
116
107*
107*
115*
107*
107*
a
d
....
....
Purchases of bonds
DIVIDENDS.
The following Dividends have been declared daring the paet week:
PER
115*
107*
107*
a
by the Government daring the past week were
on Wednesday, $2,000,000, the total offered beiDg $5,630,300*
The bonds purchased were as follows:
&lye Bankers’ ©ajettc.
WHIN
44
“
t\
:
n
U. 8.10-40’s,
Pacific Sixe*....
PER
id
borrowers
44
44
■
1864, cou
8:1865, reg.
1865, COU
6,498,050
™.< B;418,950
1,505,6001
a
'
1868, reg..........
1868, COU
—
19,697,600
841,000
2,305,000
‘actively dealt
the leading features.
State Bonds.—This class of securities has been
in, with the Tennessees and North.Carolinas as
rejection of the repudiation measures by r the.: Senate, of the
latter State carried up the new and “ special tax” bonds to 33 from
The
ill
[December 11, 1869.
CHRONICLE.
THE
758
State and City securities, and railroad and other bonds
27, at which point they were merged in one, by the Committee
sold at Stock Exchange for the past and several previous weeks:'
the Stock Exchmge.
Toward the closa of the week these bonds Week
State &
Government
of
again broke to 27, recovering to day 29. New Tennessecs
from 40$ to 45$ on a rumor that the State debt would be
but under
a
free pressure of
reacted
funded,
sales the price again fell off to 40$.
A
the recommendation in
to the State of its
suspended rights, and the old bonds sold at 48$, and the new at 54.
The Louisiana bonds were also strong, and the other Southern
BtroDg tone was imparted to the Virginias by
tko President’s Message, of a restoration
securities
quiet.
are
with last week :
the closing pric3s of State
_
_
Dec. S.Dec.10.
Dec. 8.Dec 10. }
49 i Louisiana Sixes
Louisiana Sixes.
05#
42# Louisian* MxeB, lev*e .... 57#
42# !. Louisiana Eights, levee... 75
42#
28#
98%
28% | Alabama Eights
53
45
old. 43#
North Carolina Sixes, x.c 82%
North Carolina special tax 32#
Virginia ~ixes, old
Virginia Sixes, new
Tennessee Sixes, x. c
Tennessee Sixes, new
North Carolina Sixes,
Railroad
bonds compared
28#
48# South Carolina Sixes, n’w. 90
54
Miscellaneous Stocks.—The stock
and
market
Boutwell’g report, which .are regarded as
implying, so far as respects the Treasury Department, an indefinite
postponement of specific measures in that direction.
Reading and St. Paul have been especially active and strong ;
the former upon an expectation that a cash dividend of 5 per cent
will be declared upon the stock; and the latter upon a report that
the directors contemplated declaring a dividend of 6 per cent cash
and 4 per cent stock, on the preferred shares, and of 4 per cent
cash and 6 per cent stock on the common shares. The Vanderbilt
Oct.
“
Nov.
“
“
The
daring the
week:
49# | Northwestern
53
92
84
Pacific Mall
N. Y. Cen. & Hd. R. con
do
do
scrip..
Erie
.
do
89
Rock Island
27#
80#
20#
Reading
Michigan Southern
100#
98#
87#
Ohio A Mississippi
26#
85#
26#
St. Paul
do
.....
W»yne
Fort
90#
108#
88#
•
.
.
74
preferred
.
69
86#
Harlem
-
Oct 29. Nov. 5 Nov. 13. Nov. 19.
28
27#
26#
26#
14#
52#
Canton Co
Mariposa pref
16#
Beading
58#
29#
96#
Pacific Mail
Erie
Mich. Southern..
92
122
Michigan Central
Clev. and Pitts d.
86#*
70#
84#
104#
Northwestern....
44
^referred
Hock Islanu....^
Fort Wayne
Illinois Central..
Ohio A Miss
Milw A St. Paul.
44
44
85
188#
26#
67#
80
64
prl
Tol.. Wab. A W’n
N T Cen. A Hud B J
consolidated.*.,
do
*
14#
13
61#
15#
62
59
75
28
54#
96#
88#
Nov. 26. Dec. 3. Dec. 10.
26
25#
26#
13#
60#
14#
97#
88#
28#
»7#
90#
120
15#
28
82#
70#
85#
83#
70#
85#
108#
85#
136
27
70
70
85
103#
102#
66
S6
14
62
16
62#
28#
99
87#
120
120
120
82#
75#
88#
104#
86#
17
50
14#
49#
15#
51#
2-K
15#
52#
20#
Ifiii#
98#
86#
120#
82#
Dec.
2
9
87#
122
82#
83#
62
60
54
83#
weeks:
Rail-
Bank.
ending—
»«
u
e....
19. *~
19....
3€....
2....
9.
10....
28....
SO...
7.
..
•*
*1
It
Oct.
*..
it
14....
u
28....
4.
11....
Nov.
14
$•
«
18..,.
547
613
487
528
866
COG
444
249
409
148
186
404
S8S
847
812
487
792
25....
Dec. 2....
II
9.... 1,151
The
...
•
Im-
Tele¬ Steam¬ Exp’s#
road. Coal, Mining, pro’t. graph. ship.
500 2.2S0
800
80.982
436
1,625
113,927 1,260
74,334 189
85,109 120
78,677 450
108,068 462
184,947 211
198,272 150
250,293 495
184,192 1,100
97,695 615
2,600
400
1G0
100
600
600
800
400
209
4,050
2,300
11 summary of the
1,210
800
1,000
6,406
2,100
1,950
85,482 1,336 2,300
107,407 610
4,700
8,100
102,085
647
2,500
75,246 429
9,700
938,838 i 919
872,060 1,060 10,075
688,693 1,868 11,180
following is
600
650
500
600
90S
•
•
•
-
1.585
1,665
4,011
2.939
1,969
4 910
2,805
2,966
4,527
2,970
8,210
5,695
8,925
1,820
8,670
6,905
4,815
9,115
5,420
8,837
8,114
900
200
700
2.299
4/95
2,1 v0
7 193
500
2,960
4,969
8C0
100
4,177
6.0H8
2,326 15,174
4,551
Ac.
_
Total.
8,859
5,195
4,565
2,610
2,220
4,150
4,606
105,369
128,668
88,628
94,788
-86,156
7,405
7,207
6,920
6,130
8,742
215,640
275,J07
205,149
113,418
8,188
4,1<>8
8,128
4,490
8,161
121,722
165,054
100,909
124,40o
amount of Government bonds,
122# 122# 123
123# 122# 1*3#
122# 122# 1-28#
123# 128# 124
123# 123# .123#
>23
122# 123#
—Balances.—
Total
Gold. Currency.
122# $22,0f5,000$l,lS8,H62$l,548,236
122# 28,821,069 I,042,3i6 1,840,546
123# 88,483,000 1,147,18) 1,438,701
12 # 28.000,COO 1,627,858 2,0)3,963
123# 87,146,000 1,4.6,988 1,767/07
123# £0,353.0/0 1,265,927 1,674,324
Clear ne».
ing.
est.
est.
123# 179,868,000
122#
124
121
121
*125
122# 176,697,000
162#
7,687,049 9,643,277
128#
513#®5.18#
35#® 86
Amsterdam......
40#® 40#
Frankfort
Bremen
40#® 40#
78#® 78#
71#® 71#
Berlin.
4,996,294 7,371,189
good supply of Cotton
with exchange made
—
6.16#@5.16*
5.20 @5.18*
5.18#®5.17# 5.20 @5.18*
87%® 86
86 ® 86#
40#® 40#
40#§ f %
40#® 41*1
40«® 40X
79#® 79*
79#® 79#
6.15#@5.15
5.15#@5.15
5.18#®5.17# 5.18# @517#
5.18#®5.17#
85#® 86
40#® 40#
40#® 40#
78#® 79
71#® 71#
Treasury have been as follows :
Custom
10
.
.
71#® V46
71#® 71| |
-
Custom House
The transactions for the week at the
aod Sub-
-
Sub-Treasury.
*
Payments.*
Receipts.—
Gold.
Gold.
‘Currency.
Currency.
$944,746 20 $1,877,228 49 $1,884,637 86
$763 624 61
270,068 00
38%295 45
76/ 93 07
842.661
842,881 04 5,189,824 77
6,958 58
142,071 99
894,200 00 1,885,883 63
1,041,450 27
503,021 66
683,442 01
81,445 62
775,775 29
2,200,4b?
836,402 65 1,698,222 0)
1,774,534 24 ’ 402,081 28
House.
,
/
Receipts.
00
267,000 00
810,000 00
258,000 U0
196,000 00
261,000 00
,
Total. $1,955,009 00 $3,114,028 55 11,028,891 40 $4,815,169
Balance, Doc.3
81,840,889 74 2,080,834 96
04
$4,891,823 28
$84,960,912 82 13,110,226 80
Payments during week 4,815,169 04 4,391,828 28
Balance Dec. 10
Increase
Decrease
$80,145,748 78 $8,718,403 08
6,682,063 12
701,145 90
New York Out Banks.—The
following statement shows tbe
New York City for *be week
condition of the Associated Banks of
ending at the commencement of business on
118,065
91,*83
253,866
401,638
5,b85 720,848
ing.
6.18#®5.18#
Hamburg
6
following'statement shows the volume of transactions in
shares, at the Stock Exchange for the past and several previous
■Quotation#.
5.15#@6.15
do short
-The
Week
9.
9
...
Dec.. 4... $668,COO
£x-dividend.;
373.600
488,000
414.500
against shipments of bonis, and rates for sterling have decioei f
per cent
November 19. November26
Decembers. December 10.
108#® 108#
108#® 108# 108#® 108#
103 ® 108#
London Comm’l.
109 ®1<‘9#
do bkrs’/no
108#® 109
108#® T 8# 108#® 108#
do
do shri.
109 @109*
109#® 109#
109#® 109# 109#® 109#
5.18#®5.17# 6.18#®5.17# 5.18#®5.17# 5.19#@5.18*
Paris, long
91#
83#
fcO
scrip
8,945,760
8/94,100
3,472,650
6,884,950
7,207,800
respecting the continuance
Foreign Exchange.—In addition to a
£7#
135#
26#
74#
86#
57#
84#
6,789,600
Secretary of the Treasury , which,
bills, the market has been freely supp’ied
8?
69
4,432,900
298.600
1,689,000
Open- Low- Hign- Cloe-
Current week..M.... 122#
Previous week.
125
Jan. 1*69, to date... 134#
Swiss
68#
83#
56#
59
6
Wedn’day,44
Thursday, “
Friday,
“
73*
68#
83#
Saturday, Dec.
Monday,
“
Tuesday, “
84#*
107#
25#
*>,115,100
5,898,609
848,000
457,400
283,100
the effect of
8K#
107#
26#
4,840,000
suspension, and its reason for a postponement of resumption, had
removing the growing impression that preparation for
a return to the specie basis is one of the
cardinal points in the
policy of the administration. This-change of sentiment and of
anticipations had the effect of inducing large purchases for a rise
and the price advanced t
large supply on the market and
the prospect of the January interest payments, a noun ing to $32,.
000,000, however, acted as a heavy check on these operations,
and the effort appears to h ve been abandoned with the result of a
decline to 122.76 upon the Treasury sales to-day. The shipments
of bonds to Europe and a consequent decline in foreign exchange,
has also helped to counteract these speculations. This afternoon, re¬
ports from Washington that the inflationary tendencies in Congress
are very strong, produced a reaction at the close to 1235.
The
Treasury sales of coin for the week, aggregate $3,000,000. The
Assistant Treasurer announces ihat he will receive scheduks of 30
or more coupons for examination.
The following table will show the course of the gold premium
each day of the past week :
of
74#
133#
4,606,000
220.500
867.500
265,000
Market.—The chief influence effecting the gold
Antwerp
136#
8,221,600
8,510,000
2,768,900
4,708,200
2,663,650
2,613,50!)
2,291,550
8 847,960
5,101,800
18
25
“
82#
138#
20#
187
26
68
84#
board
following were the closing quotations of the regular
compared with those of the six preceding weeks :
Quicksilver
•
180
The
Cumberland Co&l
X73#
84#
106#
86#
76#
.
preferred.
41870.
78.
4,485,200
7
14
28
4
11
stocks have been
quiet but strong.
following have been the highest and lowest prices
i
30
747,000
'
8,161,600
4,964,400
4,899,850
8,102,600
5,029,000
e,316,900
280,000
299.500
841.600
859,000
272,000
1,479,000
1,893,000
1,526,000
1,623,600
1,881,000
1,624,000
999,000
987,000
807,5C0
1,499,01(0
with its lack of conservative utterances
payments in Secretary
<r
“
832,000
898,600
1,852,500
8,661,900
8,600,000
2,589,000
premium has been the report < f
though dull, has been generally firn or. There is little disposition
on the part of outside operators, to take free ventures in stock at
’the present range of prices. They do not care to buy, as they lack
confidence in the market; nor do they deem it prudent to sell on
time, with the market in its present cliqued condition. A few
prominent speculators, however, who are supposed to be carrying a
very heavy load of stocks have succeeded by fictitious transactions
in carrying up prices on nearly every stock upon the list.
This
course has
also been stimulated by the remarks upon specie
t
“
The Gold
.
..
8,8U,000
9
16
23
“
“
93
Ge rgia Sevens
Missour Sixes..
2
177.500
1,848,000
1,817 000
Total
amount.
270,000
1,035,500
1,555.500
Sept.
Company
Bonds.
925.500
8,751,400
8,224 850
19
26
“
“
following
The
»*
City Bonds.
Bonds.
6,966,000
ending—
Aug.
5
Mechanics
Union
..
Circula-
Net
enter*,
Deposits. T®nuer»«
Capital. Discounts. Specie,
tlon. Deposits. Tenr
$8,000,000 $8,062,922 $6,653,477 $933/26 95,488,806 $1,M&°
2,050,000 5,530,559
589/17
10,157 8,178,906
8/00,000. 5,887,692 2,406/80 887,499 5/54.069 l/OWg
928.674 689,150 4,342,688
WMg
2/00,000 5/68,161
WOO 000 4/7I&6
6ll,l52 491,648 8,069,987
Loans and
Banks.
Few York,
Manhattan.....
Merchants*....*
December 4,1869:
AVXRJLGX AMOUNT OF-^—
-
,
•'Jjecember ll, 1869.]
USES!:::::::::::::::::: iffioo
1,000,000
THE
7,032,285
8,735,557
5.593,888
2,961.123
SM2
folton..
g^tt-'Kiaiwe l|®.000
BaSsS*'--loolooo
Mechanics and Traders'. 600,000
seventh Ward, National.
State of New York
American Exchange
commerce
Broadway
Ocean
Mercantile
Republic*
People™* !!!*.’.
412i500
NO! "American
flanover
Irving .......
1,000,000
1,000,000
500.000
4,000.000
Metropolitan
400,000
Citizens
Na|»su
1,000.000
StNichoiaa.
1,000.000
1,500,000
ltoo0,000
2,000,000
1,000,000'
Bhoe
and Leather
Corn
Exchange
Continental
Commonwealth
Oriental
750,000
300,000
400,000
Marine
Atlantic
1,864,195
6,152,901
8.098,357
8,205,591
2,816,000
200,000
452,088
490,689
261,100
195 720
2,998
265,882 265,197
108,966
176,737
633,28:) 465.500
993,588 977,204
944,790 5,825,450
117,452
900,000
40,694
793.0CO
196,458 481,190
80,629
4,814
2,0:34,088 857.445
250.000
500,00C
Manufacture & Builders
240,000
1^22 099
628,349
583,933
4,457,814
2,191,658
1,889,862
1,513,700
1,070,824
777,983
129,851
77.100
232,014
64,153
27,210
3,979
555,3.74
1,466,629
1,815,114
1,016,294
894,012
503,846
22.101
2 194.800
5.952
1,590,834
774,100
258,090-
163,846
549,141
231,127
2,052,816
298,280
192,483
1,038,851 2,191,408
79,021
751,468
232,244
6^0,669
527,967
105,858
8,846
8,857
1,100
The
a series
1,888,108
2,712,102
521,297
150.953
Specie.
23,520,267
30,266,912
Loans.
July
Jnly
July
84,217 973
34,277,945
81,055,450 34,17*,437
30,079,424 84,110,798
3. 258,368,471
10 . 255,424,942
17. 257,003,289
July 24 269,641,889
July 81. 260,53U,225
.
Aug.
27,871.933
Sept.
S*-pt.
Sept.
Sept.
4. 262,549,839
11. 268,864,533
18 266,496,024
25 263,441,828
Oct.
Oct.
Oct.
2
9
16
28.
80
Oct
Oct.
Nov.
.
.
.
.
.
6.
Nov. 13
Nov. 20
Nov. 20
Dec 4
.
.
.
255,239,619
250,749,974
248,587,984
249,£95,073
250,948,833
252,799,450
251,180,557
253.068,008
262,673,474
253,285,996
.
38,947,985
21,694,510
Aug. 14. 266^505,365
Aug. 21. 262,741 133
Aug. 28 . 261,012,109
84,068.677
26,003,925
24,154,499
7. 264.879,357
84.0 '8,104
19,469,102
17,461,722
14,912,066
14,538,109
13,968,481
15,902,849
21,513,526
83,999,742
33,960,035
33,964,196
83,972 759
33,996,081
20,899,070
19,399,701
21,926 046
25,219,066
26,755,693
27.929,071
29,6S7,895
80,633,539
38,992,267
Deposits.
179,9*9,467
183,197,239
188,431,701
193,622,260
196,416,443
200,220,008
198,952,711
192,021,546
188,754 539
46,737,263
48,702,728
51,859,706
64,271,862
66,101,627
£6,056,S3 4
54,730,089
53,070,-Sl
52,792,834
55,829,732
51,487,867
51,259,19?
50 025,081
54,209,083
62,017,588
63,229,5 -4
5’,<37,604
52,177,881
49,957,590
51,095,661
44
6,490
ol weeks past:
a seats
103,068,(0?
18......
20
2!
4
104,478.949
lOi.&Toyj-il
105,289,208
11......
18
25
1
8
15......
22
29
6
104,946,179
»i
Oct.
44
ii
it
Nov.
Nor.
Nov.
Nov.
3,024,595
2,365,920
2,154,616
2,117,372
1,871,713
103,14)4,545
104.437,227
11,908,786
1(13,877,786
103,279,504
1(3,953,810
11,792,519
12.371.V11
12,747,357
1,2-8,474
915,1.81
518,679
652,197
1,091,712
1,151,251
1,090,180
1,363,721
1,536,219
2,713,228
1,7 5,308
1,837,098
1,990,720
104,551,831
103,410 990
304,084,433
Rl 1,506,997
84,851,745
34,620,417
36,211 108
87,308,687
86,117,973
84.983,731
85,229,149
37,041,045
37,362,741
37,086,497
36,917,666
36,88'‘,894
31,891,701
11,210,664
1,715 563
103.662,6;0
Deposits. Circulation,
9,595,668
9,641,8* 9
9,793,461
10,719,569
10,438,5^5
3,255,151
108,811,271
102,088,791
6
Sept.
A
Tenders.
Specie.
8,140,676
108.804,554
....
23
30
u
201,996
975,099
869,053
641,191
211,034
262,900
205,882
12,950.087
12,767,(K>4
11,913,893
*
11,376,043
11,319,-86
11,711,185
11.566,147
25,835,704
25,325,082
25,254,209
25,514,701
25,279,285
25,244,004
25,200,086
25,202.278
25,227,27$
25,277,731
25,807,129
25,321,464
25,888,694
25,313 414
34,446,»08
34,877,071
25,212,024
85,310,o64
86 896,518
36.007,305
86,898,961
36,676,549
87,342,225
11,535128
ll,o95,690
11,579,605
11,67J,107
25,321,51»
25,336,290
25,888,729
25,861,854
25,355.364
25,329,981
f fj
65,894
[bid [Ask
securities*
Stale
896
Alabama 8s
“
60
78
82
85
94
70
57
60
5s
old
-
6s, rew
7s, old
7s, new
Louisiana 6s, ex-coupons
“
“
bonds
new
....
“
6s, Levee ......
8s, Levte
North Care Una, ex-coup b’ds
70
44
“
42
“
846,763.301
676,540,290
711,328,141
658,456.09)
614,4 5,487
614,875,633
B'2,821,62!'
566,650,530
003,801,341
556,889,276
Clearing House, Monday, Dec.
48
62
Virginia ex-coupon bonds...
rew
1
...
i
50
46
City Securit en.
Alexandria
Atlanta, Ga, 8s, bonds
85
80
50
60
72
Augusta, Ga., 7s, bonds
Charle.-ton, 8. O., 6s,
Columbia, S. C
,
stock..
6s
6s, bonds
Columbus, “
Tredricksburg 6s
—
Lyuchbua- 6s
Macon 6s, bonds
Memphis bs bonds, old
“
6s, “
new....—
Memphis 6s, end. by Memp
and CharlestonRai'road..
Memphis 6s, ^nd, by Memp
& Little Rock & ^-tate ...
Memphis past due coupons.
]
....
.
lls
« •
•
47
60
55
80
79
54
76
45
64
...
“
,
U
60)
“
u
n
‘
kk
cert, 8s
**
8s
2ds, 8s
Manchester 1 pfa 7s
kk
kk
2d
44
44
3d
“
2dm 7s.
Chari. ARutherf.
87
83
52)
stock....
65
75
SOUTH
CAROLINA.
80
71
80
50
47)
62)
guar, by State S. Carolina, 60
parten-burg and Union 7s,
guar’d by state S. C
4*1
guaranteed by State -S. C..
“
41
st’ek
North Eastern 1st mtg. 6s...
2d
‘
6s...
44
end. by State
mbia and Augusta 1st
82
81
4k
56
78
50
67
95
,
79
82
05
£59
endorsed 62
64
East Tenn. & Georgia 6s..
44
Virginia 6s, end
by State Tenn.
kk
Memphis and Ohio 109
■*
♦*
ga
Memphis & L.“Rock lsts, 8s
4
86
90
95
57
80
25
58
824
44
2ds 6s
8ds 6s
“
82
75
...
2ds 6s
Sds 8s
4ths 88
Orange & Alex. & Man. l»ts
Va. & Tenn lsts 6s
80
80
.
1
44
44
17i
stock
& Alex., lsts 6s.....
44
99
65) 66)
mtg, 8s
44
4th 8s
Virginia Central lets,
6s!!...
44
58
2nds, 6s
44
53
s
8ds, 6s
44
•
e e
44
95
Central RR. let mtg. 7s—
stock
Southwestern Rtt., 1st mtg
“
stock
Macon and Western s’k....
Macon & Augusta bonds ...
44
kk
end bond B
.
.
.
97
100
stock
kk
103
95 97
115 118
91
94
94 96
115 120
75
77
87) 90
25
80
if 75 76)1
95*
Muscogee bonds
•
•
e •
'«
Southside, 1st mtg. 8s.......
2d m. guart'd 6s..
44
44
8dm. es
4thm. 8s
44
Norfolk &
44
84
86 0
........
Petersburg 1 m 8s
44
7s
Richm. & Petersb. lstm 7s
“•
*
44
2dm. 6s
44
44
8dm. 8s 95
“
Fre’ksb’g & 44
Poto. 6s
44
'
«»
77
m
.....
fhnd. int. 8s
•
76
...
Rich. & Eanv. lsi cons'd 6s.
44
Piedmont bra'h
44
lsts 8s
44
e •
stocks.
Atlantic
4th,8s
•
GEORGIA.
Georgia IiR. 1st mtg
kk
fi
VIRGINIA.
ige
State of Alabama
*
Memp. & Charleston lsts, 7s
44
2nds, 7s
u
u
fiXocli
84
60
75
89
Macon & Brunswick stock
75
TXNNXSSSB.
70
70
84
stock...
& Brunsw’k end b. 7
48
6s,
outh Carolina Railroad 6s..
it
44
rjrg
72j
kk
90
ungton & Weldon 7s g
ALABAMA.
*
m
NORTH CAROLINA,
Railroad Securities*
“
i
stock
Jack’n & Opel.lsts, 8s
44
'.
54
44
51
47
82
fft
7s, bonds
Wilmington, N. “C., 6s
4k
Savannah
n
»l
& Tenn. 1st m.7s
»t
69
65
50
414
65
...
U
^
75
42
63
..
kk
LOUISIANA.
Llssissippi Cent. 1st mtg. 7t
62
2
Point stock
ihar leeton and Savannah
....
Norfolk 6s
/eter Lljv 63
Richmond uo
pref st’fc
....
69
75
scrip,—
Mobile, Ala., 5s, bonds
8s,
“
iNashvllie 6s
New OrleanB 6s bonds
“
i IS8I8SIPPI AND
2dm 7s.
44
t’anta & West
70)
42)
48) :
5s
“
“
kk
87
95
71
bond9
new
“
“
bonds, end. by Savannah.,
Georgia 1st m7s
kk
i ensacola &
41
registe'd s’ck
“
Aggregate
g
70
68
63
48 i
South Caro ina 6s, o d
“
Cs, new
? A
bio Ask
t
98
63
80
28} 28)
new
Tennessee cx coupons
Clearings
i|
Quotation* by J. M. Welth Sc A rents, 9 Now Street.
kk
75,000
f-
SOUTHERN SECURITIES.
Georgia 6s,
Loans.
-Capital.
Specie L. T. Notes. Deposits. Circula.
$441,899
$750,000 $1,597,483 $5,319 $146,560 $464,418
190,0*3
796,843
2.570.665
689,959
1,210
1,500,000
791,948
277,166 1,285,561
12,357
8,212,' 35
1,500,000
Boston.
668,051
596,376
153,142
1,8 42,219
1,0<)0,0(*0
7,694
674
447,837
Boylston
738,449
201,683
l,474,b77
500,000
Columbian
3,902
8V7,50f)
647,694
789,524
1,000,000
2,145,340
549,620
Continental
72,489
568,709
1,000,000
1,878,4*5 32,133
Eliot
94,255
907,485
800,000
1,000,000 2,407,501 152,832
100,025
Everett.
867,240
1,035
44,285
200,000
532,483
Eaneuil Hall,... 1,000,000
585,622
18,828
478,833 1,108,331
2,61,111
Freeman's
485,196
10n,703
354,718
16,393
1,439,850
600,000
355,595
274,571 1,173,934
10,239
GJobe...
1,000,000 2,228,411
Hamilton
r,02,069
242,180
120,612
17,919
750,000
1,407,551
Howard
441,747
440,952
141,000
4,535
1,000,000 1,750,197
Market
4S7,4ll
852,810
91,465
800,000
1,492,975 17,620
893.4*4
806,178
198,880
Massachusetts.. 800,000 1,811,868 75,548
Maverick
294,005
246,190
83,140
2,928
907,915
400,000
Merchants'
963,359 8,116.499
1,847,895
8,000,000 6,6 6,292 323,112
Mount Vernon..
883
177,625
88,638
362,110
603,870
200,000
Now England... 1,000,000
799,4-9
407,593
761,528
13,264
2,285,278
North
630,117
787,653
219,000
1,000,000 2,279,643 27,008
Old Boston
861,600
503,2S4 1,059,318
1,862,430 10 ',812
900,000
597.682
783,821
Shawmut
214,694
20,760
1000,000 2,220,291
Shoe & Leather. 1,000,000
779,854
859,863
226,06 i
2.809.665
State......
995,781.
402,000 1,107,974
2,000,000 8,616,699 42*, 586
334,994
662,494
749,852
gaffolk
1.600,000 8,253,414 70,453
Traders'
235,344
179,250
87,781
41,664
1,114,088
600,000
Tremont
890,673
478,282
696,495
83,660
3,000,000 8,186,000
595,255
768,567
125,867
Washington.... 750,000 1,893,503 23,391
797,900
468,917 1,240,326
1,000,000 8,62*,788 14,625
Second (Granite) 1,800,000 4,491,094 282,038
693,183 2,062,110
794,300
522,947
84 ,362
174,912
110,252
43,384
800,000
Bk of Commerce 2.000,000 4,633,082
652,600 1,002,492
984,691
16,814
598,107
XJtOfN. Amer. 1,000,000 1,821,885 20,029 290,339 477,231
•B'k of Redemp'nl,000,000
798,000
605,106 1,200,948
4,156,837 114,551
H’k of the Repub. 1,500,000
738,105
797,905
201,0 0
3,789,220 20,0 0
671,835
458,299
fife
279.886
1,000,000 1,944,622 17,574
842,780
678,896
116.886
1,000,000 1,820,299 43,329
795,820
284,885 1,186,881
Exchange
1,000,000 8,278,892 120,453
220,267
835,548
796,62$
MideAXeather. 1,500,000 2,917,085 52,591
99,602
665,676
Dec.
.
3,170.916
6.1869.
Banks.
Atlantic
Atlas
Blackstone
4*
2,756,317
354,878
239,859
259,6
607,978
506,066
238,044
Tenders.
comparative totals for
are
102,633,948
101.4' 6,241
102,702,540
26
9
16
Aug.
Dec.
191,101,086
188,82 ',324
791,753 344
185,390,lo0
662,419.788
180,230,793
9S9,274,474
31,169,409 183,124,508
792,893,772
84,178.925 179.214,675
628,380,852
81,217,114 178,642,936
534.390.262
531.510.262
34,204,437 175,798,919
540,450,647
84,136,249 180,828,882
34,188,663 182,961,840
689,884,676
34 212,867 183,754,306
570,859,293
84,231,922 183,784 190 43,455,121 481,750,558
34,155,888 183,597,895 48,181,890 661,'83,865
84,140,463 182,690,140 45,989,274 676,011,3S4
we give a statement of the Boston
Boston Banks.—Below
National Banks, as returned to the
44
Nov.
48,182
Legal
tion.
ii
144,476
193,387
of weeks past
Circula¬
Circulation:
153,622
Loan 8.
12
19
July
..
totals for
following
.
Legal
88.970/M0 253,235,996
The following are the
are a9 follow?:
Legaltender notes
Inc.
$671,806 Deposits.
Inc.
Iuc.
80,688,53934,140.468 182.690,140 75/989^74
TtiedsviatioDS from the returns of previous week nvu eg follows:
Des;.
f«o*ns
Inc. $557,522 Doposits..
1907,255
Dec
2,192,616
Inc . 945,643 Legal Teuders..
Specie
15 370
Circulation
Dec.
Total
71,168
la-t week.
as
Inc
193,251
618.609
449,250
25,855,384
Same
Loans
631,000
556,957
200,320
2:9,960
298,843
887,054
250X00
29,7:5
266,852
47,850,000 103,953,8101,990,720 11,679,107 37/342/225
Not received.
“
677,112
897,898
180,000
546,889
494,714
Specie
297,896
421,000
1,0(3,333
4,901
1,001,279
SFO.OOO
V72.730
21.610
99,249
730,178
462.503
502,011
7,693.737
1,449,465 1.023,000 15,901,525
26.212
307,167
1,2:6X47
11.689
690.810
2,015
29,608
11,022 fi 825.963
18,195 233,500
512,886
677
6,363
905,494
1,141,960 2,954,279 12,100,927
284,185 1,910,000 8,628,926
270,000 1,096,194
276,09 L 841 846 8,919,437
847,244 4,065,957
878,457
5*9,211
795,4 3 3,327,712
24,591
268,735
597,083
107.000 913,200
492,100
9,164
225,010
660,524
6,7.53
5,573
1.C27.736
455,895
877,559
83,S62
242,824
66,825
1,987,297
476,475
218,485
843,070
164,8788.5,200
Capital
269.333
2,199,576
i,2i)5
2,328,674
2,640,285
636.866
10,475
189,‘290
200.229
42,505
8,1*4
The deviations from last weeks returns
815,609
229,831
377,602
47,277
144,099
226.132
19,600
689,457
1,500,000
Total J
*
3,717,254
200,000
1,000 000
Union
Webster
663,308
810,941
862,600
291,910
759
2,000,000
Security..
123,388
601,756
245,712
1,037,944
1,234,052
4,254,104
2,835X84
213,527
Revere..;
1,021,519
22,155
1,356,559
2,482,868
2,191.555
1,576,000
10.232,638
1.410,324
1.764,277
2 8*15,486
2,556.267
8,939,800
2,897,114
3,743,894
2,677,471
1,363.825
1,540,470
1,079,954
7,973,312
131,930
5,996
4,129
571.9" 8
200,000
1,588,677
466,682
1.586,274
748,660
8,716,995
5,287,611
6,604,932
9,822,871
963,883
2,762.192
1,202,397
4,480,781
2^11,>-89
1,061,651
2,025,622
1/215,697
1,-954.000
4,788,770
1,077,488
197.427
881,541
850,000
Manufacturers & Mer....
500.000 1,280,809
VonrthNatlonal
5,000,000 15,925,147
Central Natlonal
8,000,000 10,929,385
Second National
800,000 1,884,748
1,000,000 4,713,8:0
Ninth National
First National
500,000 8,047,074
Third National
1,000,000 8.964,331
New York N. Exchange*
300,000 1,079.160
;. 1,000.000
1,944,000
Tenth National
815.876
250,000
BoweryNational
200,000 1,564,679
Ball s Head
.300,000
6,928,691
8,118,181
8,889,963
1466 489
440,112
5S.800
29,848
Rest River
National Cur^ "icy *
Btnyvasant
Sieve \th Ward
Eighth National
American National
Germania
776B96
717,073
149,913
300,000
Importers and Traders’.. 1,500.000
Pirk
2,000.000 13,046,135
Mechanics’ Banking Ass.
500,000 1,192,841
796,562
800,000
Grocers’
North River
400.000 1,102,533
'
585,660
69,915
299.742
1,901,628
200,000 1,052,925
600,000 2,778,021
500,000 1,222,659
2,000,000 4,712,958
5,000,000 9,651,193
10,000,000 28,552,116
1,000,000 9,088,962
1,000,000 2,695,53-S
1,000,000 8,850,582
422,700 1,823,439
2,000,000 4,558,137
450,000 2,158,676
SitherManuf.* National
I’6**
L178.477
1,373.050
CHRONICLE.
it
eonv.7e
«
ga
78
760
THE
CHRONICLE.
lvDecember-llj*1869,--
SALE-PRICES AT THE NEW YORK STOCK
EXCHANGE,
REPRESENTED BT THE LAST SALE REPORTED OFFICIALLY ON EACH DAY OF
THE WEEK ENDING FRIDAY, DEC. 10,
WITH THE AMOUNT OP
BONDS AND NUMBER OF SHARES SOLD AT BOTH BOARDS
IN THE SAME WEEP.
SlOCKfc AND SECt’KITlfcS.
Satur.
dean Gold CoId (Oold fiocm.) 122*
National:
Ual ed States 6b. 1883
coupon.
do
do
6b, 1881 ..registered 112 b
do
do
’62 )coupi
6b, 5-20e(’62)coupon 114%
de
do
68, 5-208 doregtsfd 11*
do
do
6b, 5-20s ('64) coupon i* *
do
ristd m*
lo
6s, 5.20b do reg
do
do
6b, 5.2Oe(’65)C0wpor; 112*
do
do
6s, 5.20b do reqist'd 1
do
do
6s, 5.20s (’65 n.) cpn 114
do
do
6b, -**.208 do registd HUM
do
do
6s, 5.20b (1867) coup in#
do
do
6e, 6.20e do reglsd 1103d
do
do
6B, 5 20- (1868) coup
do
do
6s, 5.20b do regisd 110 #
do
do
6s, OregODWa. 1883
do
&
do
do
do
do
do
do
do
do
do
do
do
do
do
Mon
Tues
Thur«
«o
Fri.
Week’«Sales
122# 12' # 1-3# 123,# 123#
Rnllroad Stocks
BosIod. Hadford & Erie
$197,000 Centra] 01 New Jereey
1 ’(# 118# 118# 120# 120#
113# Hi# 14#
116
115# 115# 115# 115#
13# 112#
12#
113# 113#
115# 115#
115# 315#
ID# 111# HI#
1J6
15#
115# 116# 1.6#
115#
HI#
118
115#
d
—
300,500
do
Illinois
do
do
—
do
Indiana 6s
—
—
—
67
58*
90
90#
6b,(Han. & St. Jos. RR.)
New York 6s, 1817
89#
—
—
—
21,001
04, t0
65,000
33#
82#
31
28
42#
42# 45#
49#
41#
92#
92#
—
92#
m
88
91*
S3
92#
84
tc#
—
7,000
300
95
„
100 135
—
—
100
loo
10c
100
100
109
184
27
1C 9
122#
6
pref
-5#
25#
'*0
100
—
25,*
25*
26#
guar.
87
871
99#
87#
99#
—
5t
.
do
do
99#
-
--
PS# (8 A
95* ICO#
87*
95*
1,605
9,475
26*
pref.-OP
do
do
do
W
—
56
5'*
57#
66#
67
72
—
66
—
preflO
—
600
-i
'•2#
....
94
94
95
54*
94#
100,000
1st mortgage.,
Income
90
98
—
—
C
hirego & Rock Lint d. 1st
eve
,
do
do
*■
—
(0
50
87 h
—
—
10,(00
6.000
•
97
96#
101#
1,000
87#
1,'00
—
10,000
85
.
600
,
-
.
4th mortgage.
73
—
2,000
! G
7;
•74#
do
r.NO
—
74#
#
6,000
75#
75#
2d
88,000
68
—
"53
93
Deiaw’e, Lnckawan.
do
do
99
& West, lstm
do
2tl
m.
Erie, let mortgage, 1868
1,0.0
83
52#
—
1,000
—iTcoe
88
121#
102#
5
2<;
—
—
"
ioo
1
60
Market
_
Metropolitan
10D
Manha tan
50 143
25 143
Exchange
50
100
io<
Ninth
North America
Ocean.
50
60
Park
do
do
8d mortgage,
4th
1883
mortgage 1880
—
—
...
—
2^000
74*
.1.,,
...
:43
103
l’-8*
'
313# 113
113
103
'
Stocks
:
25
50
100
100
Cumberland
Delaware and Hudson...100
26
26
26#
26#
1,825
8
50
50
50
2:5
30
65
Improvement.—Bost.Wat. Pow.100
Bruns w ick City Lan d..;. —
.16* 50)4
Canton,
1(0
—
Cary
100
(..—Western Union... .100 3534 35
if/?.—Atlantic Mail..... .ioo
4
Pacific Mail
ioo 52
51
.*
Union Navigation
100
Repress.—Adams
ioo 53
57
* American......
500
I
Ameiican and M. Union.100 37
38
Merchants’Union
100
United States
100 60
Welle, Fargo & Co......100 18
18#
Mining.- Mariposa Gold
100
...
Manposa preferred
100 16# 15#
Qaicicsiiver
luO 15 ' 15
MUesiiongpUS- ■ Barkers A Pro. Ass
Union Irnif MMM 1J
84#
85
85
35
50# 62
53
62#
58
60#
CO
_
60#
—
50#
19
8
Morris and Essex, 1st
mortgage...
do
do
2d mortgage...
do
do
construe ion...
do.
do
68 conveitible
New York Central 6s, 1883
61
18
8
~
15#
m 17#
—
40
7S
do
do
1st
Ohio and Mississippi .1st
fo
do
2.310
11,000
8,000
1
.
1,6C0
3,000
81#
—
40
—
—
—
12,000
90#
90#
11,(100
—
16,000
90
8,000
102
01#
,
91#
—
—
91#
96#
96#
•14,000
34,000
92
—.
*
.
^
do
guar,
do
do
do
6,000
85
86
—
—
—
—
4,000
101#
8,000
mortgage
1.000
consol, bds
do
do
2,f00
91#
.92
91#
100
2d mort
3d mort.
ro
93
93
93
11,600
9,000
101
94
7
8t.Louis, Alton & TerreH, 1st m.
do
do
do
do
2d, prej
income
do
do
flt Louis A Iron
Mountain, 1st m.
Toledo & Wabash, 1st mort.,ext..
960
‘
do
do
2d mortgage,
2,580
*
do
do
equipment...
600
do
do
tons. con....
1,825
78#
—
by State o f Mo.
2,356 Pittsb’g,Ft. Wayne & Chic., lstm.
15,17
78#
.
do
do
7e, 1687
do
do
6s sub bonds.
N. Y. & New Haven 6s
->
39# 40
15#
—
do
7 3 10 conv
do
8sli-tmon
do 1st Iowa... -
Paci fle 7s,
.
40
91
do
2d mort.,7s...
Milwaukeeand St. Paul. 1st mort.
do
do
do
60
1,000
95
do
■
l00
—
River, 1st mortgage, 1869
Michigan Southern, SinkingFund
100
l0<>
---
378
do
2d mort, (S. F.), ’8?
£97 Illinoi-Central bonds
Lake Shore, div. bonds
60 Mariposa Trustee 10b certifica es..
35 Michigan Central 8s,
new, 1882....
Marietta & Cincinnati 1h*
\lioo
’
Galena & Chicago, 1st
do
do
21
Great Western, 1st mortgage, 18S8.
Great Western, 2d
mortgage
Harlem, 1st mortgage, 1S69-72
Hudson
::m
EKiscellaneons
665,544
——
-
,300
Irving
Eeyh
Uohm
805
8 ,77ft
—
do
do
No.
110
50
Seventh 'rard
State of New York
'
—
100 109*
660
7,717
«, 27
81*
m
187
—
—
Cleveland and Toledo, Sink’g Func;
Gallatin
Ha over
scrip.
.
do
—
Central
Commonwealth
Commerce
Continental
Corn Exchange
Fourth
,
-
Pi*t^- «fc Ashta nb», new.
Cleveland and Pittsburg, 3d mort
:
12,625
73* 73*
86# SO#
8fc*
86#
oo
90
13
A Quincy, 8p. c
06.0 0 Chicago & Milwaukee. l>-t
mort..
624.000 Chic &
Northwest..Sin) ing Fund,
7,0 0
do
do
Interest b’ncs
3,5 ;o
do
do
1st mort.
do
do
coneolid’tet
Chicago. R. I. and Pao. 7 i ercent..
—
—
805
765
Chicago.BurPton
49#
41#
43#
48
64
2,935
8' *
91#
rk
.
Bank of America
Bank of New York
-
do
do
60#
1,073
_
do'
—
Bank Mocks
American Rxchange
Wilks Barre
8t#
Chicago and Alton, Sinking Fund
8s, 1887
Pennsylvania
72
84#
-—
Railroad Ronds:
Buffalo and State 1 ine ' oncis
puft'iJo. N. Y & Erie, let
765,500 Rent>a1 Pacific gold bom s
28#
New York 5s, 1870
Centra)
7' #
^4#
49,0 M
(reg.)
CWoL—American
Ashburton
21#
121
7 3#
'21
hlrd Avenue.
Toledo, Wabash and Western. .10(
42# i 43
43#
—
77|
880
21
10f
Mississippi
do
—
50
ex c
Brooklyn 6b, Water Loan
do
6s, P-^rk Coan
Jersey City Water Loi;n.
Kings County «s,
Nassau....
87*
j"Hoin« ,Watertown &Ogdenshnrg —
'Mt 'l.nniR Altnn fr. Tnvrt>
1ft<
—
Municipal :
Me<hauicB
Merchants
scrip..
.Reading
89#
1 418
800
-
—
—
10,515
-
.
*,600
«
—
<>s, (new)
do
do
A Wo ce?t-r
,’Ohioand
do
i
—
—
6s.
70
60
6#
87*
5
7u
do
| votwiih
—
17.705
6,587
—
—
do
68,1873
do
53, 1874
do
7a, State B’yB’ds (coup)
do
do
do
(reg.j
North Carolina,6s
44
do
6b (new, Bpec’l taxj
do
6b, (new)
33*
Ohio 6e, 1875
8 >nth Carolina As, old
South Cari lina 6s, new
Tennessee 5s
do
6b (old) ex o
do
41
68, (new)
do
do
9j
pref 50
pref...10'
jPitts., F’t Wayne & Chic.
Michigan 6b, 1S7S
Missouri os,
Virginia 6s. (old)
70
to
70
60
60#
.
fc
4
21
10<
[New Jersey
—
Kentucky 6s
Lon 1 si ana fis
Louisiana 6s Levee Bonds
do
8b Levee Boi.ds
do
do
do
1919
—
2d
(New York and New Haven
—
—
—
J8.f* 85#
-
Cincinnati, let prel 50
do
j d»
—
—
—
ich. South...
Morris & Essex
50
New York Central
:.
100
;N. Y. Central & Lndgon R ver.. —
8a,con., ’79,aft.’60-62-65-71
do 1877
; ioo
—
do
—
do
do
.i
Michigan Central
Canal Bonds, 1860
do
fit 1£4#
10(
.
45
105# 108
10c# K8# ICS
135
1S6
135*
—
jto
:
45
07
1C8
100
do
2 ,000
—
143*
150
—
”
—
143
143
mi
Pboteand
2,°f 0
—
7b (new)
Registered, 1860
...
18,000 Long Isl nd
—
Georgia 6s
144
144
1 3# 140
141
50
Chicago
T.ak
K
85# 90# 80#
...
Illinois uentrai
o in* &
Marietta and
—
"
10( 146
pref....
Harlem
HndsoD River
California, 7s
—
w«ws
9*
F8# 90*
do
Hannibal and ct. Joseph
10*
Hannibal and St. Joseph pref. .ICO
82 V 0;
95
Connection 6s
trl.
—
10(
..
—
—
Thurte
bu
:
preferred....10(
Chicago, Burlington and QnincylOf
..
—
W
33,000 Columbus C. A Ind. Cent
* 2
22# 22#
—
3,217,700 Cleveland and Pittsburg
S3
5( si#
42,7 0 Delaware. Lackawana and West 50 106
K>7
L6# 1 6
106# 106*
•9,500 Dubuque & Sioux
111# 112
City
1 0 110#
501; Fric
100 20# 16# 26# TO# 2t* 26*
6b,
do. (hy'rly)
107# 107# 107# 1U8
108# 108#
6b, Cn-rency
5b,1871.
.coupon.
5b, 1871 ..registered.
5 b, 1874
coupon
5b, 1874. .registered
108# 110# !H#
5b, 10-40b ...coupon 108 hi 307#
1U7#
5b, iQ-AOa.registered. 107
10J#
5b
Men* TU66
Chicago and Great Eastern.... ..100
10( 75# 74# 75# 76# 7‘# 72*
Chicago and Northwestern
101,r00
do
9 # &**
do
pref.lOt 89# 85# 91 •
84*
49, On Chicago. Rock Island and Pac 100 108# 3'7# l'*7# 07# 07
107#
468,4'0 Cleveland, Col. Gin. aBd Ind....IOC 7-i# 74
7 4k
74#
State:
do
do
5b.5i 0
1« 2,000
17 000
113#
113# 113#
Alabama
Satur.
40,000 Chicago and Alton
ltl, 00'
■
114# 118#
STOCKS AND SECl RITIES.
TOGETHER
,
—
79
—
—
70#
iooo
20
62#
18
16
16
16
17#
—-
1,700
80*
80
74
-
74
*
-
1,'00
io,o0o
.
J 3,000
79#
Toledo, Peoria & Warsaw,! 6t.E.D. *f8
do
7 do8,830
W. D...
(Tnion Pacific, 1st mort....
Wteiern Union 7’b
6,000
2,000
io,too
64
.
——
78
/p.ODO
6.000
io,oto
84X m
18,OO"
78
78
84* 85*
>
THE
McGregor A Missouri River ;
monitor.
rSH) t R ail mag
761
CHRONICLE
Cedar Falls A Minnesota ; Iowa
ja^BXPI^NA^ION^OF THE STOCK AND BOND TABLES.
Taible
Railroad, Canal and Olher Stocks,
Falla
Island A Pacific ; Burlington
Burlington. Cedar Rapids
A St. Paul.
carefully prepared table shows in the first column,
A Sibux CIfy ; Central; Chicago, Rock
A Missouri River ; Sioux City and Pacific;
A Minnesota j Des Moines Valley; Keokuk
Tbe'foUowiDg
day of December, 1868 ;
next page, comprises all Companies of which the stock is sold in any of the
will be built in 1869 ; the
nrindpalpities (9v Cept nierCly local corp« rations), or upon which dividends are paid. third column, the total amount constructed in the Stale up to the 1st
QooiatieM are always given of the per cent value whatever the par of the stock may
Hrhe figures just after the pame of the company indicate the date of the Chron- day of January, 1870. [Parts of m"
Built
Jan. 1,
Jai. 1,
iijvj. jn whioh a report ol the Company was last published.
A star (*) indicates
in 1369.
1870.
1869.
hosed foods', in the dividend column x**«tfrd; &=stock or scrip.
Ba'lroads.
84,600
84,6J0
tivlfiie Tables of Railroad. Canal and Other Bonds McGregojr Western
93,‘00
93,000
OOQU&yi l* all, four pages, two of which will be published in each number. - In McGregor & Missouri River
75,110
42.000
33,110
theseragec the bonds of Cbmpanios which have been consolidated are sometimes Cedar Falls A* Minn
142,885
142,885
DU* none & bioux city
«Ven?U^ier the name of Consolidated Corporation. The date given in brackets
119,500
119,5f0
immediately after the name of each Company, indicates the time at which the state* Iowa Falls & Sioux C ty
64.760
£4,760
meal ©fits finances was made. In the “Interest Column” the abbreviations are as Dubuque & Southwestern
48,000
43, COO
Central Railroad of Iowa..
Jollows *. J. & J.*=January and July; P. Sc A-=February and August; M. Sc S.«=
8 4,000
351,000
Jtarch and September; A .'Sc 0.~April and October: M. Sc N.saMay a^dNovem
818,000
40,451
277.549
ber; J- & D.=June and December. Q. — J. =Quarterly, begi’ ning with January;
279,140
98,807
1£0,333
Q,J.F.==Qaartorly, beginning w th Februa
Q. M.=Quarterly, beginning with
62,000
52,000
Iffirdlr* ^.
4.510
80,000
75 00~
8 The Table of United States and State Securities will be
67,000
67,000
B., Cedar Ra- ids & Minn.
published monthly, on the last Saturday of the month.
81 510
241,000
16 yoo
4* Quotations of Southern Securities are given in a separate De* Moines Valley
44,000
19,000
i5,000
I
the number of miles that were on the 81st
the second column the number of miles that
of
...
•
•
•
J
£■
■
i
•
!
*4
*
*•••>•
■
....
....
•
...
i
..
.
•
l\
In
>|
'•»j
f]
•
i-
A
>1
•
•
•
•
•
•
,
V
Table.
5, No
x
reliable prices of Insurance Stocks can
Keokuk & St. Paul
St. Lou b & Cedar Rapids.
possibly he made.
Here, then, is the amount
In 1866and 1867
Total
Add the miles
of two hundred and ninety-
pine miles in 1868.
Gives
By letters before us, from officers of the sixteenth railway in Iowa
closing thete will i e a grand total of
we learn that in the year now
tix hundred and forty-three miles l
On e^ght of these lines there is
some yet to build before the amount is reached.
But nine-tenth9 of
the work is done.- Thoee that have more to do have so little that
they write it will be undoubtedly done th's year. These eight are :
McGreg)r A Sioux City ; Cedar Falla A Minnesota ; Central Railroad
a
810.July
42,260
643,418
.
constructed up to 1866
totil of
1,081
798
2,094
ked only fif een of
equaling
mi'es.—Des Moines Bulletin.
seveDty-nine freight, citile and coal cars, and real
The whole sold at $1,709,000. Thomas L.
Ci*y, Dubuque Southwestern,
Jewett, President of the Pan Handle, was the purchaser, it is suppose!
Chicago A Northwestern, St. Joseph A Council Bluffs.
Charles Moran is’the representative of
The roads which have been lengthened out or commenced this year for the Pennsylvania Central.
the
Central Pacific—in
1867.
1868.
(94 m.)
$38,169
(850 m.)
$64,4«3
86,937
81,896
61.881
60,029
167,832
*75,139
g391,308
285,961
267,094
282,165
835,610
279,121
•304,827. .Feb....
393,648 .Mar....
831,148. April.,
303 342
■May...
842,357
f 384,564
96,481
174,812
181,297
200,550
212,109
*485,048
106,835
164,729
259,590
251,832
81,156
95,828
121,102
668,270
556,0.4 0
262,770
296,422
286,562
842,743
128,166
75,871
354,244
532,657
6 9,783
622.000
532 000
8,892,S61
(708 m.)
$647,119
624,871
; 417,071
(708 m.)
$681,656
636,165
444,443
618,800
*77,007
616,494
525,242
709,826
738,580
658 782
608,780
695,355
672,551
727,809
618,330
626,248
549,714
763,779
589,966
901,630
699,532
681,040
7,160,991
-
...
1,149,258
774,280 1,094,597
895,712 1,206,796
1,092,378
1,269,934
1,258,284
272,454
268,369
297,625
276,681
297,512
......
..
655 046
740,949
661,793
790,328
915,020
894,934
1867.
1868.
(251m.)
$94,136
(251 m.)
$92,483
1869.
(864 m.)
Jan..
Feb..
...Mar..
825,055
1,063,432
838,777 ...Ana
84,652
72,768
90,526
96,535
106,594
114,716
121,217
142,823
132,887
123,383
.
1,239,735 ...Sep...
1,279,602 ...Oet...
1,124,745 ...NOV..
.Dee...
.Year..
81,599
98,482
108,461
95,416
95,924
108,413
126,666
121,519
78,976
.July..
1,249,950
1,258,713
125,065
119,169
121,408
r-St.
T. Haute.-
-
.
•
•
;
869,858
865,404
850,664
751 739
458,190
423.897
522,683
678,800
586,342
525,803
8*88,825
£ 468,879
6,083,609
6,517,64»
217,082
194,455
287,557
807,122
288,329
801,163 886,066 - 274,636
-£1,024,045 V* 724,514
1,089,811
1,101,778 S 1,037,463
§706,617 » 656,917
240,185
284,633
322,521
865,872
879,867
\ 272,058
238,861
8,459^9
2J>64,089
242,205
f 508,000
A440,300
218,847
271,425
287,451
223.236.. June..
156,065
172,988
192,364 July...
275,220 Auer..,, >220,788
292,803 Sept.,. '219,160
828,044..Oet
*30,340
298,027 ^ NoVui ,
Dec,...
.204,596
196,486
210,473
174^500
MOT *30
1,9*3,869
&2S
-Year-
-143,986
157.879
144,164
186,889
202,238
295,750
188,148
.
841,783
,
820,025
293,615
271,655
230,061
_
829,950
858,569
478,546
366,628
511.820
490.772
412,933
410,825
448,419
830,373
890,671
4,371,071
4,570,014
Toledo, Wab. A Western.^
1868.
320,636
886,527
411,814
403,646
825,501
821,013
892,942
456,974
184,977
313,021
898,993
464,778
606,295
Dec....
Year
(329 m.)
$384,119
869,625
862,783
833,952
131,019.. Nov....
.
1868
(329xn.)
$843,890
304,115
826,880
415,758
375,210
132.869.. Oct
JWT.948
259.408
293,296
262,798
(329 m.)
304,091
283,669
...
851,759
253,367
Michigan Central. 1869.
103.558.. Mar....
109.528.. April..
111,037 May.
118.648.. June..
109.502.. Jnly...
129.883.. Aug....
140.473.. Sep
200,798
270,630
317,052
829,078
804,810
809,691
864,723
882,996
406,766
241 466
1867.
$98,510.. Jam.
91,660.. Feb
*521 m.)
$237,614
247,661
193,959
203,696
2^918,317
(251 m.)
1867;
180,840
239,529
212,509
236,435
419,000
878,436
1809.
(390m.
204,112
236,160
362,900
1869
1,294,095
L. Alton A
-Ohio A Mississippi-—
•’-Milwaukee A st. Fanl.-* .
M
1868.
1867.
5869.
,186?.
1868.
1869.
1867.
1868.
(210 m.)
(210 m.)
(230 m.)
(340 m.)
(735 m.)
(820 m.)
(825 m.) (840 m.) (340 m.)
$180,366.. Jan.... 149,658 $127,694 $132.6*2
$819,765
$369,328 $451,180. $242,798 $211,973
127,817
>183,892
216,080. >. Feb..,
240,156
321.202
330,233 219,064
231,351 2*1,459...Mar... 149,842 ; 149,165
175,950
174.162
33»,5C7 ’420,771
279,647
261,145
265,905
171,868
155,888
168.162
214.409.. April..
816,268
435,412
460,287 284,729
252,149
157,897
180,545
171,786
218.689...May..
401,892
565,718 -630,844
282,939
2)4,619
154,182
!:
140,408
1
316,708
i8«a
(390m.)
645,7S9
Marietta and Cincinnati-
South.-
June.
791,772
1,207,496
276,431
£01,952
4,358,611 4,797,461
Year ..pi,1712,248 13,429,534
May..
7,817,620
828,901
850.192
757,134
April.
'
-
224,621
807,478
...
4,508,642
(864 m.)
827,254
574,664
CJev. Col. Cin. AI—*
89i,6£5. June..
898,357 1,167,544
341,885
353.736., July*..
880,324 1,091,466 1,167,155
568,380 g 4^0,900
501.666.,Aug... 1,063,236 1,251,940 1,032,813 f444,024
501.258., Sept... 1,451,284 1,518,483 1,321,139 ?566,403 ^558,886 ^ 579,000
»
591,209 g581,000
463.103., Oct.... 1,541,056 1,570,066 1,414,231 §599,548
Y475,600
403.691., Nov
1,210,387 1,107,083 1,144,029 £,442,274 g 424,5^9
433,434
Dec....
(377,058
918,088 1,001,892
A404 012
1868.
1869.
(708 m.)
$587,442
440,271
■
European bondholders.
■
-Lake Shore A Mich.
Illinois Central.1868.
345 556.
415,982 g558,100
408,999 7*486,196
426,752 S503.745
359,103 Y409,568
330,169 (361,700
511,854
1,421,525 $2,800,767
1867.
worth 8200,009.
MONTHLY EARNINGS OF PRINCIPAL RAILROADS.
•-Chicago ANorthwestern-v-Chic-, Rock Is.and Pacific gold—*and
Chicago 1868. Alton.
1869.
1867
1868.
1869.
■
1867.
1868.
1869.
1867.
1869.
(454 m.) (520-94 m.)
(431 m.)
(1,152 m.) (1,152 m.) (1,157m.) (410 m.)
(280 m.)
600 m.) (280 m.)
.Jan...
696,147 $724,890 $871,218 $292,047 $308,557 $351,767
.212,604 $243,787 $276,116 $339,762.
319,441
297,464
S 218,982
l|
1869, and
been built since tha‘ date).
The miles constructed in 1869 (648) la
that built in the three preceding years, 658
ret 200 have
estate
are :
a
299
operation in Iowa on the first day of January, 1870.
(Massachusetts only had 1,425 miles on the 1st of January,
miles in
sixteen passenger,
our reports :
McGregor Western, Dubuque A Sioux
-1
y
2,034,545
Ohio#—Thos. D. Messier, Esq., of this city, representing the
Pennsylvania Central, and Pittsburgh, Fort Wayne A Coicago Railway
of lows ; Burlington ds Missouri River ; Burlington, Cedar Rapids A
Minnestota ; D-s. Moines Valley ; St. Louis A Cedar Rapids; Iowa Companies, met the directors of the Pittsburgh, Mount Vernon A
Columbus Railroad, at the Doncaster House, in Orrvilie, Ooio, on the
Falls A Sioux City.
19th inst., and delivered to them a deed of the Cleveland, Zanesville
On the 4th of November, the Iowa Falls A Sioux City had built
A Cincinnati Railroad from Hudson to Mi’dersburg, Ohio, as one million
ninety-nine and one-half miles. Between that time and the first of
five hundred dol'ars worth of stock in the Dew company, iu consi leraJanuary they will have built twenty more, making a total of one tion of cne hundred anti sixty-five thousand dollars in stoci subscribed
hundred and nineteen and a half miles in I860. This is the longest
the
stretch made on any one line in the year.
The other large builders by Knox, Holmes and Wayne coun ies, forand comp’etion of the road
from
Columbus.—Pittsburg
Millersburg to Mount Vernon
are, Burlington A Missouri River, ninety-eight and three-fourth miles ;
Chronicle.
McGregor A Missouri River ninety-four and one-third miles ; Des
—The Cincinnati, Wilmington A Zmesville Road was sold on the
Moines 'Valley, eighty-one
miles ; Burlington, Cedar Falls A
Minnesota, sixty-seven m;les-—a total of four hundred and sixty miles 1st instant, to satisfy European holders of $1,3€0,010 bonds with two
years accrued interest at 7 per cent.
There are cne hundred and
by five companies.
No miles in length have been laid this year on these roads, according thirty-one miles of road from Morrow to Zanesville, sixteen locomotives,
to
-
of road constructed in the last four years :
...miles. 869
In 1668
In 18b9
total completed was one thou-
One year later—January 1,1869—the
fand four and fifty-one miles—an increase
42,2. 0
—
1,451,127
Railroads in 1869.—A greater lergth of railway has been
built in Jowa this year than in any other State. At the close of 1865
At the
there were etven hundred and nioety-three miles finished.
close of 1867 there were eleven hundred and fifty-two rr-iles finished—
an increase ef three hundred and fifty-nine miles in these two years.
jowa
•
.
-
1869.
-Union Pacific-^
1869.
(1063 m.)
(521m.) (521m.)
$278,712 $284,19*. Jan....
265,136
*65.187.. Feb....
257,799
286,825
260,629
852.704.. Mar....
293 844
288,683
484,208
450,203
429,893
828,279
899,488
4.013JW0
311.832.. April..
312,529 .May...
348,890~ June..
.
450,246 .Aug....
470.720.. Sept....
422.868.. Oct....uNsv
%* * *
■
•.
591,420
706,602
628,659
617,585
755,084
man
\
762
THE
CHRONICLE.
'I -4
.»
|[Deoember 11, 1809,
’•
RAILROAD, CANAL, AND MISCELLANEOUS STOCK LIST.
Sabscrlber* avill confer
Railroads.
DIVIDEND.
Outstand-
Foralu’i explanation oftbistable,
*ee Railway Monitor, on the pre¬
ceding page.
\
great favor by
Stock
COMPANIES.
a
fflvlny
PRICE.
Last paid.
Periods.
ing.
Date.
Rate.
oeoi
-
*
•«»
f.
3*
4
5
Oct.jOct., ’69
Catawlssa*
50
do
preferred
50
Cedar Rapids and Missouri* —100
do
do pref.
Central Georgia & Banking Co. .100
Central of New Jersey
.100
Central Ohio
50
do 50
preferred
Cheshire, preferred
100
Chicago and Alton. Mar. 27... .100
do
do preferred....100
Chic., Burling. & Quincy. Aug. 7.100
Chicago and Great Eastern
100
Chicago, Iowa and Nebraska*. .100
-
VJO1
2)200]000
5,432,000;
I
May & Nov. NOV., ’69;
IMay & Nov.
4,666,800 June & Dec.
15,000,000!Jan. & July.
2,500,000“ June & Dec.
500,000 June & Dec.
2,085,925 Jan. & July.
5,141,800,Mar. & Sept.
2,425,400 Mar. & Sept.
13,825,025 Mar- & Sept.
4,390,000;
1,000,000!Jan. & July.
May, ’69 j
Dec., ’69;
Jau., ’69'
Dec., ’68
June, ’09
July, ’69
Sept.,’69
Sept.,’69
Sept., ’69
July, ’69
Chicago and Milwaukee*
100 2,227.000;
Chicago and Northwest. Aug. 21.100 14,590,101 June & Dec. Dec .',“’69
do
do
pref....100 18,159,097 June & Dec Dec., ’69
Chic., Rock Is.& Pac June 12..l(X) 14,000,000 April & Oct
ct., ’69
Cincinnati, Hamilton & Davton.ioOr 8,5flO!66o’ April & Oct. iOct.', ’69
Cincinnati, Riclim. & Chicago* .i0Qi 382,600:
Cincinnati, Sand. & Cleveland.. 50; 2,989,090;
do
do pref. 50j
do
393,073 May & Nov. Nov., ’69
Cincinnati and Zanesville
501 1,676,345!
Clev., Col.,Cin.& Ind. May 15.. 100,10,460,900 Feb. & Aug. Aug., ’69
Cleveland and Mahoning*
50 2.056,750 May & Nov. Nov.,’69
Cleveland and Pittsburg. Mar 27 50; fi,S5\59li
Quarterly. Nov.,’69
Columbus, Chlc^fe Iud.central*.io0;ll,l00,000; Quarterly. Oct., ’67
l,786,800;Dec. Sc June Dec.,’69
50 1,500,000 May & Nov. Nov., ’691
oncord
50
Concord and Portsmouth
100
350,000;Jan. & July. July, ’691
Connecticut & Passumpsic.pref.ioo, 2,054 2001 Feb. & Aug. Autr., ’691
Connecticut River
100! 1,700,000; Jan. & July. July. ’69
Cumberland Valley
50! 1,316,900 April & Oct. April,’69
Dayton and Michigan*
100i 2,400,000 j
Delaware*
50
891,206 Jan. & July. July,' ’69
Delaware, Lackaw. Sc Western 50 14,100,600 Jan. & July. July, ’69
Detroit and Milwaukee. June 27.100
452,3501
do
do
pref..,. 50 2,095,000,
Dubuque and Sioux City*
100: 2,142,250'Jan. & July Jan., ’70
do
do
prof...100; 1,988,170;jan. & July. July,’69
inni
Eastern (Mas9.)
100 ooooomiii.n & July.,July, ’69
3,883,300 Jan. js- t.-iItt
East Tenn. Georgia, Oct. 9
100 1,290,067;
'
______
Solumbus and Xenia*
~
i*
4
5
5
3*
April 17
1
oft)
non
'
50
100
Fitchburg
Georgia. May 29
8,536.900
'
2i"
"8‘
16
11-2
110
3*
4
115*
....
2*
8*
4
7«
60"
_
-
80
•
•
•
•
.
..
20
100
100
New Bedford and Taunton
New Haven Sc Northampton
.100
New Jersey
100
New London Northern
100
N. Y. Central Sc Hudson River. .300
do
do
certificates..100
do
do old inter, certif. .100
New York and Harlem. Apl. 8.. 50
do
do
pref.
50
New York and New Haven
100
New York, Prov. end Boston .100
Norfolk and Petersburg, pref... 100
do
do
guar. .100
North Carolina. Oct. 2....„
100
Northern of New Hampshire... .100
Northern Central. May 10
50
Northeast. (S. Carolina). May 1.
do
do 8 p. c., pref
...
..
..
..
f orth Pennsylvania
Missouri
orth
orwlch
ana
Worcester
*
June & Dec.
Jan. & July.
’e"
io"
8*
:o
12
5
4
5
23
65
....
■4'
25
66
Wvomlng Valley
5
5
£*
4sK
liiejx IO?"
97
85
97"
9(
85fc
69
71
71*
Jan. &
3?.
Feb. & Aug. Aug., ’69
Mar. & Sept. Sept.,’68
uct., ’89
Jan. &
Jan. &
8
5
'4'
4
8
5
4
4
Aug., ’69
■i’
July, ’69
4
4
5
July
July.
9,000,000 Jan. Sc July.
2,000,000 Jan. & July.
Jan., ’70
Jan., ’70!
4,000,000
Juiy, ’08
July, ’69
800,500
Jan. Sc July. July, *69
137,500
8,068,400 June & Dec. t’ec., ’69
4,798,900 Quarterly. Nov., ’69
896,950
155,000 May & Nov.
100 7,700,000
50 8,150,000
100 2,368,700 Jan. Sc July.
Sep. 4.100 8,049,100 Annually.
pref.100 1,994,900 April A Oct
Ogdeneburg * L. Champ.
do ^
•
do
Okie andKMsslppi. Mar.20....10019,522,900
do
pref.
100 8,844,400 June StDec
Oil Creek and Alleftcnr RIver.uDO
4#M90 Quarterly.
2i" i2"
8 8.
"5
5
July.
July;
•»
It:"
500)000; June
8*
,
,,,
8
120
....
122" 123''1
88* 89"
ii3
65
3,200,000
1,250,000
1,000,000
3,400,000
1,250,000
2,000,000
1,200,000
1,000,000
886,000
4,000,000
2,800,000
1,000,000
750,000
781,250
50
Jersey City and Hoboken... 20
Manhattan
50
Metropolitan
.100
New York
50
Williamsburg
50
16*
100
Brunswick City....
Cary Improvement
gold
5
lii”
•
•
"8*
"5
•.
165"
Feb.’,’ ’69
"3*
May, ’69
"7’
July, *69
"2^
Aug., ’69
July, ’69
26*
....
90
100
Aug., ’69
July,"69
Jan., ’70
ll-3s
May,
July,
D('C.,
Jan.,
57
70
5*
57 X
S*
Julj7, ’69
Jan., ’64
July, ’69
118
&
83*
-
119*
87* 88
is” 14"
•3
73
74
112
102
8
do
Trust, certif.
112
66
104
26
65
70
64
78
83
Aug.) ’’69
4
5
5
8
8
Aug., ’69
Aug., ’69
May, ’67
July, ’69
l'Os.'
Feb., ’C9
84*
89”
119* 12)
67
S*
92
90
26
(0*
90
61
'
6"
«
6
Feb., ’67
Feb., ’67
22
26*
78*
40
Dec., ’68 60cts.
July,'’69
"s'
Quarterly. 1 Aug., ’69
"5'
July.
Jan. &
July Jan., ’69
May &
Nov,!Nov.,’69
Feb. & Aug. I Aug.,
Feb. & Aug.! Aug.,
Jan. & July.: July,
Feb. & Aug.! Aug.,
Jan. & July. V i8*’
* *
Jan. & July.
U\
Quicksilver, Apl. 27.
70
fl
jDec., ’69
26* 26*
230
to"
5
65
’66
’69
’69
’69
70"
145"
160
’69
230
240
May & Nov. May, ’69
Jan. & July. July, ’69
140
150
50
51
4,000,000
July, ’66
IS* 14*
9*
Jan. &
2
8.000 ( 00
2,324,000 Jan. & July.
100 10,000,000
Feb., ’65
i*
85
72
80
00
69;
8
41
40.
2* 51* 52
17*
1k
5
4
27
52X 52*
10
SCO
4
5
,5*
..
5
gold
40
17
8
10
44*
17*
BROOKLYN CITY PASSENGER RAILROADS.
Quotations by A. H. Nleolay, Stock Broker &
Auctioneer, 48 Pine Street
NAME OF ROAD.
par
91* Bleecker street and Fulton Ferry.
84
Broadway (Brooklyn)
Broadway and Seventh Avenue
186" Brooklyn City
Brooklyn City and Newtown
139" Brooklyn, Prospect Park & Flatb.
Brooklyn and Rockaway Beach...
102’* 105"
58.
5
do
2
100
..
188'‘
June, ’69
July. Jan., ’70
Quarterly. July. ’69
Amer. Merchants’ Union....100 10,000,000 Quarterly. April,’68
18,000,000
Jan., ’70
United States
100 6,000,000 Quarterly.
Nov., ’69
Wells, Fargo & Co ...'
100 10,000,000
Steamship.—Atlantic Mail
100 4,000,000
Quarterly. Dec) ,"’67
Pacific Mall
100 20,000,000
Quarterly. Sent.,’69
Trust.—Farmers’ Loan & Trust. 25 1,000,000 Jan. &
July. July, ’69
National Trust
100 1,000,000 Jan.&
July.;Jan., *70
New York Life and Trust ...100
1,000,000 Feb. & Aug. Ang., ’69
Union Trust
100 1,000,000 Jan.ik
July. July, ’69
United States Trust
100 1,500,000 Jan. &
July. July, ’69
Mining.—Mariposa Gold
100 2,886,600
Mariposa Gold, pref
100 8,693.400
....
Express.—Adams
li5" N. Y. &
70
& Dec
5,066)000
20
Boston Water Power
4
500,000 Jan. & July. July, ’69
1,500,000
6,250,000
295,000
'5,0 0,000
21,491,450
22,829,000
5,500,000
1,500,000
l*
3
12
24
89
1,500,000!Mar. & Sept. Mar., ’69
Telegraph—west.Unlon. Sep.25.100 41,068,100
acffl<• & Atlantic
8*
Feb. & * tig. Aug., ’69
Citizens (Brooklj’n)
Harlem
Improvement—Canton
98
60
2,948,785
June & Dec. Dec.,
Jan. & July. July,
May & Nov. May.
Quarterly.
3G
22
88
2 500 000
100
50
50
10
100
100
75
Gas.—Brooklyn
7,151,069 Jan. & July. Jan., ’69 14.?.
78* 73*
8,188,272
January. Jan., ’69 7&10? 36* 86*
3,775,600 Jan. & July. July, ’69
4
107
108 j
1,733.7(0
4,269,820
1,644,104
4,823,500
720,000
2,056,544
1,818,900
4
11
.J
...100 2,000.000 Jan. &
Spruce Hill
WTlkesbarre
135*
86* 87"
2*
8*
25
50
25
—
Pennsylvania
Spring Mountain.,
-
June,’69
July, ’69
100*
M* 118
141
104* 104X
5
5
82
25; 8,229,594
»
Jan.’,' ’68
Aug., ’69
Sept.,’67
Jan., ’66
Ohio
1 Coal.—American
Ashburton
Butler.
Cameron
706* 108*
Central
108* 109
Consolidated Md
238
200
Cumberland
4
..
Milwaukee and St. Paul. May 2^.100
do
do
pref ...100
Mine Hill * Schuylkill Haven* 50
Mississippi Central*
100
Mobl eic viontg.pref. Aug. 14..
Mobile and Ohio..
100
Montgomery and W est Point... 100
MorrS and Essex*
50
Nashua and Lowell
100
hi ashv. A Chattanooga.
Sep. U..100
100
m
MX
Miscellaneoug.
58
“
Memphis and Charleston. Sep. 25.25 5,312,725
Michigan Central. July 24
100 11,197,348
..100
5«.
April & Oct. <»ct., ’69
Jan. & Juljr. July, ’60
50! 1,633,350 Feb. & Aug.
Delaware and Hudson
100:15,000,000 Feb. & Aug.
Delaware and Raritan...
100
Feb. & Aug.
Lehigh Coal and Navigation.... 50 4,999,400
“
&
Monongahela Navigation Co.... 50 8,739,800 May & Nov.
728,100'Jan.
July.
Morris (consolidated)
100
1,025,0001Feb. & Aug.
do
preferred
100 1.175,000 Feb. &
Aug.
Pennsylvania
50
Schuylkill Navigation (consol.). 50 4,300,000 Feb. &
1,908,207
Aug.
do
pref.
50 2,888,977|Feb. & Aug.
Susquehanna <fc Tide-Water
50 2,002,7461
£
131
5
4
Nov.V’69
July
)))")w | ”)
26* Union,preferred.."........'.'..’.. 50'2)907)350!
West Branch and
Susquehanna. 50 1,100,000; Jan. & July.; Jau., ’65
47
-
26*
45*
53
5’
1
1
Sent., '69
July, '69
and Western
100 2)000)000 June & Dec.
Dec.) '09
Maine Central
100 1,611,500
Marietta & Cin., 1st prf. Aug. 21. 50
Mar. Sc Sept. Sept.)’66
8,130,719
do
do
2d pref.. 50 4,460,368 Mar. &
Sept Sept., ’66
do
do
common
2,029,778
Manchester and Lawrence
100 1,000.000
100
Delaware Division*
107
1~
5
Chesapeake and
23
ib'J*
5
do
'69
’69
’67
’69
’69
’69
’66
*69
’69
’69
&
&
*
'
Aug.,
Feb.,
May,
Oct.,
Dec.,
July,
Aug.,
July,
July,
Aug.,
”4
«fe
Oct., ’69
Jan. & July. July, ’60
June & Dec. June, ’69
1,900,000 Jan. & July. July, ’69
2.530.700
3,000,000 April & Oct. Oct.7 ’C9
4,000,000
317.100
2,500,000 Jan. & July. July, *69
100
.
July. Jan., "’69
July. July, ’69
& Aug. Aug., ’69
CO
200
106
....
100 14,367,950'
100 17,894,695
May Sc Nov
and Worcester
Raritan and Delaware Bay*
Rensselaer and
Saratoga
Richmond and Danville con
Richmond and Petersburg
6
5
....]
July. Julv, ’69
.
Providence
119*
’69
..
’66
L’ec., 69
100 1,822,000
pref.... 100 5,078,000
Hartford * N.Haven, Oci.23...100 3,300,000
Quarterly.
Housatonlc, preferred
100 2,000,000
Huntingdon and Broad Top*— 50
494,380
do
do
pref. 50
190,750 Jan. Sc July.
Illinois Central. Mar. 27
100125,277,270!Feb. & Aug.
Indianapolis, Cin. & Lafayette.. 50; 6,185,897 Mar. & Sept.
Jeffersonville, Mad. Sc In..O 130100 2,000,000 Jan. & July.
Lackawanna and Bloomsburg.. 50 1,835,000
Lake Bho.A Mich. South. Apl. 2 M00135,000.000
,Feb. & Aug.
do
do guar.100
538.500 Feb. & Aug.
Lehigh and Susquehanna
50 8,739,800;May Sc Nov.
Lehigh Valley
50 16,058,150; Quarterly.
Little Miami
50 3,572.400! June & Dec.
Little Schuylkill*
50 2,646,100; Jan. & July.
Long Island
50 3,000,000;
Lorn*?., Cin. & Lex., prf. Sep. 11.100
848,815; Jan. & July.
do
- common
50 lfin 736| Jan. Sc July.
Louisville and Nashville
100 8,681,500'Feb. & Ang.
Louisville. New Alb. & Chlcago.100 2,800,000
j
Macon
pref. f0
& C. guar*. Aug.' 21.100
Portland and Kennebec (new)..100
Portland, Saco & Ports. Sep. 18.100
97*
’69
.
100 4,156,000; Jan. & July. July, ’69
Grand Trunk (Can.)
Great Western (Can.)
Hannibal and St. Joseph
1.587.700
9,084,300
1,793,926
2,(23,000
3,900,0 0
19,665,000
581.100
1,500,000
97
May & Nov. Nov., ’69
Jan.
Jan.
Jan.
1,099,120 Feb.
pref
Pitts., Ft.W.
Aug.)
Quarterly. Dct’.)
.
Aug. ;Feb\,
962 990
8,540)000; Jan. &
-
do
50
50
Feb. & Aug.
100
32
Rome, Watert. & Ogdensburg ..100
69* Rutland
100
do
preferred
100
Feb. & Aug
3X
St. Louis, Alton & Terre Haute.
100 2,800,000'
15
do
do
do pref.100 2,040,000
2 * 90* 90* St.
Annually.
Louis, Jacksonv. &
8
59* Sanduskv, Mansfield &ChicagoMOO 1,469,429
Newark.100
901,341
8
Schuylkill Valley*
.50
8i
2
576,050 Jan. & July.
Shiiniokin Valley & Pottsville* 50
143 * 144
869,450 Feb. & Aug.
5
Shore Line Railway
100
635,200 Jan. & July.
5
142* 145
cnuii! Carolina
50 5,819,275
150
5
«,ul!i Sale (P. & L.)
100 1,365,600
Southwest. Georgia.* Sep. 11.100 8,939,900 Feb. &
Aug.
Syracuse, Bingh’ton & N. York.100 1,314,130
I'erre Haute and
Indianapolis
50 1,988,150 Jan. & July.
72*; 72* | j Toledo, Peoria & Warsaw
100 2,700,000
31*! 85*
do
do
do 1st pref.100 1,700,000
3*i 107*! 107*
do
do
do 2d pref.100 1,000,000
79 i 80
5-s.
Toledo, V. abash & Western
100 9,387,000
do
do
do pref.100 1,000,000 May & Nov.
3
Utica and Dlack River
...100 1,497,700 Jan. & July.
3
Vermont aud Canada*
100 2,250,000 June & Dec
Vermont aud Massachusetts... .100
2,860,000 Jan. & July.
"3* 74
74* Virginia aud Tennessee
100 2.941,791
8*.
ao
do
pref.....100
555,500! Jan. & Julv.
15s. S2* 83*j
Western (N. Carolina)
100 2,227,000 Jau. & July.
2* 22* 22* j Wilmington and
Manchester... .100 1,147,018
98
8* 9i
Wilmington and Weldon
1,468,775
5
76
Worcester and Nashua.:
100 1,550,000 Jan. &
3*
July.
88
3
89
Canal.
5
180
Chesapeake and Delaware
50: 1,983,563!! June Sc Dec.
4
Mav '& Nov.
;69
500,000 Jan. & July. July, ’69
100j70,000)000jFeb. &
100
do preferred
Erie and Pittsburg
134*
30
68
iNov.)
*800)000
Mar. 6
and Erie*
Philadelphia and Read, ieb.2 .50
Philadelphia and Trenton*
100
146*
Philadel., German!. &Norrist’n* 50
Philadel., Wilming.& Baltimore 50
'9)4 10 Pittsburg and Connellsville
50
132
143* 143* Pittsburg, Clncin. Sc St. Louis... 50
do
do
do
!19
.
East Tennessee and Virginia....i00
Elmira and Williamsport*
50
do
do
pref.. 50
do
45*
2,063,655
482,400
3,869,000
7,000,000
83,840,762
6,004,200
2,400,000
26,280,850
00
100
Panama
123*; Philadelphia
Bid. Ask
Rate.
100 4,943,420 Jan. & July.
July, ’69
Pennsylvania.
128
Periods.
Date.
100
50
Pacific (of Mi-souri)
4
r\^4-
ing.
naoB.
Last paid.
PAR
Colony and Newport
Orange and Alexandria
Oswego and Syracuse
6i
Tablet,
dividend.
Out¬
stand¬
a
Old
52
59
2
Stock
«ull explanation of this table,
see
Railway Monitorr, ou the prect ding page.
j
50
8,091,2001
2,494,900 Jan. & July. July, ’69
1,232,200; Jan. & Julv. Julv, ’69
783,700 Jan. & Julv. July, ’69
18,151,962;April & Oct. jOct., ’6'1
Washington Branch*
100 1,650,000, April &
50
Parkersburg Branch
Berkshire
100
600,000! Quarterly. Oct'.,"’69
Boston and Albany
100 14,934,100; Jan. & July. Jan., ’70
Boston, Con. & Montreal .pref. .100
800,000;May & Nov. | Nov.,’69i
Boeton, Hartford and Erie
100 18,939,800!
Boston and Lowell
500 2,169,000; Jan. & July. July, ’69
Boston and Maine. Sept. 18
100; 4,550,000 Jan. & July. July, ’69
Boeton and Providence
100 3,360,000'Jan. & July. July, ’69
Buffalo, New York and Erie*... 100j 950)6o5 June & Dec. DtC., ’69
Burlington and Missouri River .100 1,235,000,
do
do
330 000
pref. 100
Camden and Ambov
100 5 000,000 Feb. & Aug. iFeb., ’69
Camden and Atlantic
50
1
877,100
do
do
preferred.. 50
731,200Cape Cod
60
801,905 Jan. & July. July, '69
1 KQ
Naugatuck. Mar.
For
Bid. Ask.:
50 2,241,250! Jan. & July.
Atlantic and Gulf
100
Atlan. a St. Lawrence* Oct. 1€..100
Atlanta and West Point. Sept. 18.100
Aagnata and Savannah*
100
Baltimore and Ohio
100
do
antes.
PAR
Allegheny Valley
Jlrie.
ns Immediate notlee of any
error discovered tn
our
STOCK.
100 900,000
100 200,000
100 2,100,000
100 1,500,000
100 400,000
100 254,000
LA8T DIVIDENDS PAID.
59
10O<
January, 1870
170^00
88l|700
.
60
195
80*
8*
1
gry Dock, Eaat B'dway Sc Battery
CBreeklyn)..
Iasi
40
144,600
Bush wick (Brooklyn)
1
Central Park, North & East Riven 100 262,200
1,065,200
Coney Island (Brooklyn)
100 500,000
100 1,200,000
ighth Avenue
100 1,000,000
Forty-second St. Sc Grand St. Ferry 100 748,000 Nov.
’69, semi-anT..
Grand Street Sc Newtown
(B’klyn) 100
Hudson Avenue (Brooklyn)
100 100,700
Metropolitan (Brooklyn)
100 194,000
Ninth Avenue
100 797,820
Second Avenue
100
April. ’61, quarterly
Sixth Avenue
100
Nov. ’69, semi-an 1..
Third Avenue
100
Nov.
Tab Brunt Street
bid.
100
73,000
■'69, quarterly.
85
s6*
165
6* 109
70
49
61
180
r
• • * *
«»*»
2
67
5 120
4 190
»
**
*«
-
763
CHRONICLE.
THE
December 11, 1869.]
LIST.
RAILROAD, CANAL AND MISCELLANEOUS BOND
confer a great favor by giving na Immediate notice of any error
subscriber* will
Pages 3 and 4 of H »nds will be
^Tsble
on a
full
a**
preceding page.
PRICE.
TER OF SECURITIES ISSUED.
Where
paid.
paid.
P5
£ Chattan. (June 1,’69):
tMort (gold) guar..by Ala.
16,000p.m
(Oct. 1, 63):
£ Susquehan.
J. & J. New
M.&N.
1,000,000
1,000,000
latMortgage
2d Mortgage (for
Atlantic
funding)
I w* West. (JaQ. 1,
Mort. (Franklin
2dMort. (Penn.)..
2d Mort. (N. Y )
2d Mort. (Ohio)....
;
!J.
)
)
Consolidated Mort. (1st series)
Consolidated Mort. (2d series)
Mort
Atlantic £ Gulf (Jan. 1,
Income
’69):
Consolidated Mort., free
Atlan.£St.Lawrence (June 30. ’69):.'
1st Mort. (Port. Loan) skg fund.
of April 1,1851
Sterl, Bds of Oct. 1, ’64 (5-20 vrs).
Sterl! Bds of Nov. 1, ’53, £1(50,000
Baltimore £ Ohio (Oct. 1, ’66):
'Loan of 1834
Loan of 1855, skg fund
Loan of 1850....7
Loan of 1853
Baltimore Loan of 1855
2d Mort. (N. W. Va. RR.) of ’53.
Sd Mort. (N. W. Ya. RR.) of ’53.
BaydeNoq.£ Maraat. (J an. 1,’69):
Income Bonds of Oct. 1,1865....
Income Bonds of April 1,1866...
Bitoidere Delaware (Jan. 1, ’69):
1st Mort. of 1852 (guar. C. & A.).
2d Mort. of 1854
2d Mort.
&D.|
“
;A.& O.l
>
!A.& O.jXew York
3,903,100;
J. & J.
18,947,500;
7,000,000 :
8,701,806!
7
2,000,000 '
j
1
IPort.&N.Yi ’68-’70
885.5001
484,0001
London. |
jA.&O.
| M.&N.
j
“
Q.—J. .Baltimore.!
753,931;
863,250
J.&J.'
! J. & J.
‘A.& O.
579,500;
1,710,500
481,500l
155,000;
J. & J.
•J. & J.
100,000'
A.& O.
i A. & O.!
150,000.
1,000.000
,
Boston.
499,500
745,000
204,000 i
Mort., for $2,500,000
|
Boston £ Albany (Dec. 1, ’68):
i
593,000!
Albany Loan (Alb.& W.Stkbge):
Mass. Sterl. Loan9 (West’n RR.) j 2,051,520'
798,000!
Dollar Bonds (Western RR).... j
Bost., Clint. £ Fitchb'g CDec.l, ’68):;
7
J. & J.Charlest’n
6
5
J. &
of 1857
of S. Car. (Jan. 1,
’69):!
1st
Mort. (Agric.Br. RR.) of’64.!
Jfontr’l (Apr. 1, ’69):'
1st Mort. (71 m.)
j
2dM. (71m.& 1st22}$ni.) conv...
2dM.(71m. &2d22Xm.) conv...
Sinking Fund Bonds
Bost.. Hart. £ Erie (Dec. 1, ’68):
1st
Bolt., Con. £
1st Mort.
(old)
400,000 !
Buff..Brad. £ Plttsb. (Oct. 1, ’68): i
1st Mortgage
I
Buff., Corry £ Plttsb. (Nov. 1, ’68;:
1st Mortgage
Buffalo £Ei'ie (Nov. 1, ’69):
Comp. B’ds (B. & St. Line RR.).
Comp. B’ds (B. & St. Line RR.).
Comp. B’ds (B. & St. Line RR4.
Comp. B’ds (Erie & N’the’st RR)
Comp. B’ds (Buff. & Erie RR.)..
Buffalo, K Y. £ Erie (Oct. 1, ’69):
1st Mortgage
2d Mortgage
Burl.,C. R.£Minneso.(Jo\y l, ’69):
1st M. (gold) conv. skg f d, tax fr
Burl. £ Missouri R. (Feb. 20, ’69):
1st Mort. (land & railroad)
Bonds conv. into pref st’k (1st s.
Bonds conv. into pref. st’k (2d s)
Bonds conv. into pref. st’k (8d s)
Income Bonds
(Jan'l> ’69):
Imboy(j&n. i! ’’69)V
Dollar Loan for $&)0,000
Dollar Loan for *675,000
Dollar Loan for *1,700,000
Dollar Loan for $2,500,000
Consol. Mort. Loan for $5,000,000
Bterling Loan, £337^50
Sterling Loan (new) £396,000....
Camden £ Atlantic (Jan. 1, ’69):
$ Mortgage
Camden £BurHng. Go.)Jan. 1,’69)
(for $350,000)
Catatcissa (Nov. 1, ’68)
lit
J.&J.,
7
!M. & S.
7
7
jJ.&J.i
: J. & J.
7
:
Mortgage
1st
Mort.(C. F. to Waverly.l4 m.)
MMorUW.toMinn.LIne 67m.).
Pacific (Jan. 1 ’69):
Boston,
Boston.
York!
New
J. & J. 1
200,000'
580,000
7
700,000
7
400,000
100,000
200,000
300,000
Boston.
Boston.
2,700,000
iJ.&J.jNew
J. &
York
D.'New York!
iM.&N.
J.&J.!
“
M. & S.
A. & O.
1st
8 2X
48X
York1
6,000,000
50
60
,60
!
75
A.& O.'New York' 1898
!J. & J.|
1870
J. & J.
1875
J. & J.
1878
1879
100
i
I
$5
A. & O. New York:
A. & O.
F.& A.
M.& N.
J. & D.
A.&O. London.
M. & S.
81Ki
1870
1875
1883
1889
1889
1880
1894
2d Mort. (Col. & Ind. Cent. RR.)
Income B'ds (Col. & Ind. C. RR.)
Constru. B’ds (Chlc.& Gt. E.RR)
Income B’ds (Chic. & Gt. E. RR)
Union & l.oeansn’c. 1st Mort...
Cons.lst M.SkgF’d for $15,000,000
Consol. 2d Mort. for $5,000,000...
1st
Mortgage
Columbus £ Xenia (Dec. 1, ’68):
1st Mortgage
Connecticut River (Dec. 1, ’68):
1st
Mortgage, sinking fund
(Aug. 1/69):
Sinking Fund Mortgage....
Notes (coupon) tax free...
Connecting (Nov. 1, ’68):
1st Mortgage, guaranteed
Cumberland£Pennsyl. (J an.1/69):
98
87
8’-K
93
83*
2d Mort.
(slg fund, $20,000 a v’rj
Cumberland Valley (Nov. 1,
J.&J.
A. & O.
Phlladol.
305,000
F.& A.
Philadel. ’69-’97
236,500
F.& A.
294,000
A. & O. New York
J.&J.
8,586,000
Skg F’d Mort.for $5,000,000
Col., Chic. £ Ind. Cent. (Apr. 1/69):
Connec. £Passum. R.
490,000
500,000
1,407,000
Cleveland £ Mahon. (Sept 1, ’6.');
1st Mortgage
2d Mortgage
1st Mort. (Hubbard Branch)
Colum. £ Hocking V. (Sept 1, ’6.0;
J.& J.;Xew York1 1889
823,220
675,000
1,700,000
867,000
4,665,940
1,682,290
1,846,000
& Clev. RR).
& Clev. RR.).
Cons.
1877
1872
2,250,000
(Sand. & Ind. RR.)...
(Sand., Day.& Cin. RR)
(Cine., San.& Clev.RR)
Cincinnati £ Zanesv. (July 1, ’68):
1st Mortgage
Cldr.. Col., Cin. £ Ind. (Jan. 1. ’69):
1st il. (C., C. & C. RR) $25,000 a yr
1st Mort. (Bell. & Ind. RR.)
Cleveland £ Pittsburg (Jan. 1, ’69):
2d Mort., for $1^00,OOD
3d Mort., for $2,000.000
4th Mort., for $1,200,000
F.& A.iNew York! 1919
5,000,000
240,000
600,000
1,200,000
1,000,000
1st Mort.
1st Mort.
1st Mort.
1st M. (Ind., P’b’g
2d M. (Ind., P’b’g
1898
J. & D. New
M.& N.
Mortgage, guaranteed
Clncin., Richm. £ Chic. (Apr. 1 ,’69):
1st Mortgage, guaranteed
2d Mortgage.
Clncin., Sanil.dk Cleve. (July 1/68)
1870
1873
1882
1836
2,000,000
380,000
Mortgage
Mortgage, guaranteed
Cincinnati £Martinsv. (Jan.l,’69):
1878
1873
1879
18..
Mortgage
2d
1884
1899
1899
1899
|J.& J.jNew York 1886
1
Chicago, R. I.£ Pacific (Apr. 1/69):
1st Mort. (C. & R. I. RR.)
1st Mort. (C., R. I. & P. RR.) ...
CLncln.,Ham. £ Dayt. (Apr. 1,’69):
lsr
j 1889
!
(Beloit & Madison RR;
2d vortgage
3d Mort (S. fund,$25,000 yearly)
Cincinnati £ Indiana (Jan.l, ’69):
1884
A.& O.
A.& O.
(Jan.l/69):
1st Mort. (land grant)
SIX
’70-1-6
’C9-’71
1875
Boston.
J. & J.
:
Cedar Pailsdc Minneso. (Jan.l/69;:
86
F. & A/Xew York 1865
J.&J.
Boston. ; 1870
J. & J. 'New York 1870
200,000;
496,000;
600,000!
O.!
Mississippi River Bridge Bonds
Elgin ana State RR. Bonds
1st Mortgage (Peninsula RR.)..
Cons. Skg F’d B’ds, conv. ’till ’70
Equipment Bond9
Equipment Bonds
1st
O.j London.
M. RR., 85 miles)
Interest Bonds (fund, coupons)
1st Mortgage (general)
Extension Bonds
1st Mort. (Gal. & Chic. Un. RR.)
2d Mort. (Gal. & Chic. Un. RR.)
1st Mort.
! 18S-4
'J.&J.I Boston.
6
866,000,
Mortgage (whart purchase)....
1st Mort.
A.-&
150,000'
"
(new)
(new)
Scrip Certificates
Camden £
A. &
6
204,000
14,000,000:
8,000,000:
guar, by Erie...
8,000,000
Maas. L. (sec. byl4,000,0001st M.)
Boston £ Lowell (Dec. 1, ’684 :
101,0001
Convertible Bonds of 1833
1st Mort.
1st Mort.
1878
1867
1875 ; 93 !
18S0
93*;....
1885
92>^i 92*
1890 i
1873
1885
;
J.! Albany.
(C. &
Chicago £ Aorthicesl. (June 1.’69):
Preferred Skg Fund (on 193 m.)
1884
1877
1885
1887
iM. & S.! Princeton.
F. &A.i
3d Mort.,
Blue Bldge
1st Mort.
60
1870
1871
J. & D. New York
(July 1,’69):
Chicago £ Mtlicauk.ee(Aaxxz 1, ’69):
1st Mort. (C. & M. RR., 45 miles)
2d Mort. (M. & C. RR., 40 miles)
....
jJ. & J.
5,000,000:
Chicago, Iowa £ Eeb. (Jan. 1, ’69);
1st Mort., guaranteed
Portland. ! 1871
A. & O.
614.5001
Bonds
Philadel,
A.& O. New York
1st Mortgage
2d Mortgage
1873
1880
1882
’68):
98
95
lstMort., skg
2*1
Sd
fund, $30,000 ay’r.
Mortgage
Mortgage
Toledo Depot Bonds
Dayton £ Union (July 1, ’68):
1st Mortgage
18S5
1887
1916
2d
Mortgage
Income Mortgage
$ *?0rt. ^tCoh-,& Pilce’8 p-&»•> 1,600,000
$ Mort {?• S. loan)
1,600 000
M.& N. New York
J.&J.
1895
1895
786.000
M.& &. Savannah.
1875
(gold) tax free
16,000 pm
centralQfMw Jersey (Jan. 1, ’69):
1st Mortgage
900,000
Za Mortgage
;.
600,000
1,500,000
New York
F.& A. New York
M.& N.
F.& A.
1870
1875
99
1890
96X
98
2,500,000
M.& S. Baltimore.
1890
79
skg f d(East. Ext. RR.)
2d Mort. (D., L. & West.) free..
94X Des Moines Valley (Jan. 1, ’69):
Georgia (Dec’ 1,’’68):’ *
<SXSV«ti;.
MMort.
25,517,000
St. aid (g’d) 1,500,000
pon/’B’dsjconv. into U.S.bMs) 1,500,000
Mort. (u. 8. loan)
25,517,000
Savannah (Oct. 1. ’69):
(guar, by B. Carolina)
505,000
rwr&.£V Calif’.
iSHfib •± Au°-(uct-1* W:
Jb Ohio
(Oct.*i.*’68)*:"
^Cyavp’tURR.) guar, by St.
2ffa- Central
RR.)
(Y». Cent. RR.)..
1,200,000 .7
100,000
1st
Mortgage
Delaware (Jan. 1, ’69):
1st Mortgage bonds
State Loan Bonds
J.&J. New York ’95-’99
1885
J.&J.
1884
J.&J.
’95-’99
J.&J.
M.&S Charlest’n
1877
J.&J. New York
189S
J.&J. New York
1880
1878
1884
206.000
J. & J.
988,000
J.&J.'
,800,000
Dayton £ Western (Dec. 1, ’68):
1st Mortgage
««
j,;& J. New York' 1S70
93
Guaranteed Bonds
Extension Mortgage
82
Bonds...
Del.,Lack. £ IF<Mterw(Nov. 1 ’68):
1st Mort.
1st Mort.
1st
(Lack. & Western RR.)
Mortgage
Income Mortgage
Detroit £ Milwaukee (Jan. 1, ’69):
1st Mortgage, convertible
2d Mortgage
1st Funded Coupons
2d Funded Coupons
Bonds of June 80,’66 (condlt’ly)
Sterling (Oak. & Otta. RR.) B’ds
Dollar ?Oak. & Otta. RR.) B’ds.
1st Mort. Qetr. & Pontiac RR.).
84 Mort. (Dstr. & Fo&tiac Rlt.).
paid.
n
7
J/& J. New York ’Sfc-’W
1918
A.&O.
l.SuOj
6
J. & J.
500,000
500,000
10
’70-’80 90
Boston.
M.& N. New York
M.& N.
1877
1872
Philadel.
402,000
2,400,000
1,100,000
M.& N. New York
J.&J.
A. & O.
1877
1893
1888
2,977,000
150,000
941,000
400,000
J. & J. New York
44
J. & J
1883
Frankfort
New York
J.&J. New York
90
109
1S8S
1890
1890
1887
July.
M.& S
New York
1909
942,600
J. & J. New York
1881
500,000
J. & D. New York
1899
M.& N. New York
Var.
J. & J.
1874
1874
1898
F.& A.
M.& X.
F.& A.
F.& A.
F.& A.
M.& N.
J.&J
J. & J
M. & sj.
1885
1888
1885
1885
1882
1875
1884
1878
1S9(
1915
1874
1871
1888
397,000
182,000
1,098,000
1,249,50ft
755,000
3,591,50ft
484,000
1,919,00ft
1,029,000
200,000
189,000
1,010,000
3,296,000
101,000
1,375,000
363,00U
A.& 0
M.& N
J. & J
1,397,000
7,375,000
J. & J
J. & J
1,250,000
5*i- ,UG0
M.& N
J. & J
J.&J
282,000
5-
0,000
Xeyv York
Q.-F
••
tt
**
44
New Yorl
.
.
New Yorl
44
New Yorl,
96
85
•
97
i§77
83
81
1896
560,000
65,000
New York
!895
1889
350,000
997,000
976,000
M. & S
F.& A
J.& D
New York
1,300,000
-M.& N
New York
96
1877
1900
•
1893
....
F.& A New York
44
M. & S.
44
J.&J.
1,130,000
1,595,000
1,106,489
376,000
M.& S. New York
44
M.& N.
44
J.&J.
44
M.& N.
J.&J. New York
A.&O. New York
44
F.& A.
A.&O. New York
M.& S. New York
Boston.
Boston.
,
-
*
»
,
....
100
90
73
85
t
#
-
....
,
,
,
....
-
72X
■?
75
1878
J. & D.
t
1890
M. & S.
,
r
T
1897
248,000
....
....
1905
1908
1909
923,000
•
'
18..
18..
18..
18..
4ft
•
71X
.
.
1873
1875
1892
1900
821,000
1,243,000
400,000
•
....
....
491,-00
121,000
44
....
....
1890
44
....
79
1873
1876
1373
sm.aio
*5
....
J. & D New York '69-’85
44
’70-’99
J. & J.
44
1870
J. & J.
*4
A.&O
.*1870
M.& N.
A.&O.
J. & J.
J. & i‘.
122,
9.X
101*
82
80
New York
730,000
•
88
J.&J
400,000
740,000
379,000
341,000
•
86
83
90
J. & J
J. & J
44
•
....
1880
1885
1877
400,000
44
63
...
!870
New Yorl
40
88
86V(
-
J. & I)
90
87
1896
44
J.&J
1,000,000
....
1876
2,000,000
250,000
500,000
295,000
1,000,000
J. & D.
M.& S.
75X
75*
67h
69
...
....
90
88
...
....
44
...
....
Philadel.
1900
85
....
875,000
799,000
M.& S. New York
44
M.& N.
1891
1888
....
161,000
109.500
A.& O.
A.& O.
1904
....
1908
....
2,000,000
85
WThere
210,000 !
Chicago, Cin.£ Louisv. (J an. 1 ,’69):
1,000,000
1st Mortgage
Chic., Danv. £ Ylncen. (Apr. 1,’69):
1st Mort. (gold) sinking fund... 18,000 p m
New York! 1890
j Var.
1,340,800.
Trust Mortgage
....
' J. tfc J.
7
1st (Trust) Mort
1st (Trust) Mort., convertible
2d Mort. (Frankfort), gold ...
1877
1879
1876
1884
1882
18.82
1881
1883
1895
Chillicothe £ Bninsw.
1st Mortgage
London.
:A.&0.,
j ....
5
Morty income
Chicago, Bur. £Quln. (May 1, ’69):
1890
1
:A.& O.j London.
A.&O.
'A. & 0.,Xew York
! A. &
O.j London.
7,144,400
>
100
(A. & O. Portland.
6
425,000
Branch)..
85*
1896
J.jNew York
1st Mortgage
Chicago <x Alton (Jan. 1. ’69):
1st Mort., sinking fund pref.
1st Mortgage
2d
69):
SK;Sa£t.».:::
1st
J. &
r.3
4,000,000
400,000
Chester' £ Ch. J3t\Ju«c.(Jan.
l3t Mort., sinking fund
Chester Valley (Nov. L, ’68):
1898
M,& N. Wash’ton.
77,000
:
Company Bonds of ’70, ’75 & ’80.
1,’69):
1893
1895
1885
A. & O.
302,000
,...jheny
York!
When
paid.
State Loan (Ya.Central RR.)...
lsiM.(Ch.& O.RR.) for $10,000,000
Cheshire (Dec. 1. ’68):
J.& J. New York! 1889
1
preceding page.
Railroads
Railroads :
any
standing
on a
FBICHE.
INTKBEST.
Amount!
Out-
When
Monitor,
Alabama
a
,
For a full explanation of this
Table see “ Railroad Monitor
INTEREST.
Amount
Out¬
explanation of this standing
“ Railroad
discovered in onr Tablea.
- ’
COMPANIES, AND CHARAC¬
■^Spanies, and charac¬
ter OF SECURITIES ISSUED.
a
published next week,
2,783,000
642,000
700,000
169.500
Philadel.
4 •
A.&O. New York
J. & J. New York
44
M. & S.
44
A.* O.
1908
....
....
....
81
78
82
80
75
76
1881
1884
1888
...
81
M.&S. New York Sl-’Sft 80
M.& S. New York
140,000
1S5.000
252,445
J.& D.
J. & D.
463,000
275,000
J.&J. New York
41
J.&J.
500,000
170,000
100,000
J.&J.
J.&J.
J. & J.
J.&J.
100,000
,
44
1879
1879
1879
44
1905
1905
1875
1876
1875
1875
Philadel.
44
44
44
1,633,000
J.&J. New York
44
A.&O.
44
M.&S.
1871
1875
1881
2,810,000
462,000
A.&O. New York
44
J.&J.
M.&
M.&
J. &
M.&
M.&
W.A
1875
1875
1875
1875
1880
1878
1873
...
*
....
...
85
75
*
*
-
«
»
•
.
•
.
...
....
96
90
187?
1884
2,500,000
1,000,000
•
«
564,000
1,111,000
628,525
877,115
1,611,639
130,887
51,000
800,000
mow
N. 2New York
44
N.
44
J.
44
N.
44
N.
“
N.
wF.H ▲.
::
“
1
-
.
W'
98*
•
♦
•
*
•
*
77
•
•
’‘
.
1
•
•
«
M»*
»•**
’ 1878 »* io'
1886
M &
■
„
.
Subscribers will
RAILROAD, CANAL AND MISCELLANEOUS BOND LIST.
confer a great favor by giving ns Immediate notice of any error discovered
Pages 3 and 4 of Bonds will be published next*week.
OMPANIES, AND CHAR AC-
COMPANIES, AND CHARAC¬
TER OF SECURITIES ISSUED Amount
Out
For 'a full explanation of this standing
Table see “Railroad Monitor”
preceding page.
on a
Railroads:
Eubuqe dk Sioux City (Jan. 1,’69):
1st Mortgage (1st division)
East Pennsylvania
Mortgage (old)
Mortgage (new)
7
M. & S.
Philadel.
J.&J. New York
44
J.&J.
44
J. & J.
6
6
7
($15,000 p. m.)
1877
1879
1S83
1880
1888
1891
1875
7
7
J. & J.
1882
1890
75
7
1893
83
7
6
State of S. Car..
1st Mort. (Quincy & Palmy.RR.)
1st Mort. (Kan. C. & Cam. RR.)
Hart., Prov. dk Fishkill (Jan.l,’G9):
1st Mort. (R. I., 26.32 m.)
1st Mort. (Conn., 96.04 m.)...
44
J. & J.
44
6
J. & J.
6
London.
Slortgage
Housalonic (Jan. 1, ’69):
.
58
100
90
85
*
*
80
73*
•
68
1
-
....
....
44
7
7
7
1,520,500
18S9
1881
New York
18..
7
8
7
J. & J. New York
44
M.& N.
44
F. & A.
....
»
,T. & J. New York
J. & J.
.
1st
Mortgage
Louisville Loan
Louisville dk Nashville (Sept.1,’69):
1st Mort, (main stem)
Mortgage
Mortgage
2d Mortgage, sinking fund
1st
1st
....
90
95
....
....
•
....
7
477,000
7
J.&J. New York
.....
....
J. & J. New York
....
....
7
7
J.&J. New York
J.&J. Charlest’n
700,000
6
J. & J.
927,000
6
1,900,000
7
7
8
10
10
8
10
1886
•
-
3d mortgage
Huntingd. dk B. 7b/?J/(.(Nov.l,’68):
1st Mortgage
2d Mortgage
Mortgage
Consolidated Mortgage
Illinois Central (Jan. 1, 69):
Construction
Construction
Redemption
Redemption, sterling
Jndianap., Cinc.dk Laf\jan.l,’69):
1st Mortgage
1st Mort. (Ind. & Cine.)
Indian. Crawf.dkDanv.(Mayl,'G9):
1st Mortgage (gold)
Jndianap. dk VincennesQ?eh.1,'09):
1st Mortgage guar.
FailsttSiouxJftfzJamti'GO):
Mortgage, iXtfXX) per mile..
800,000
860,000
1,000,000
500,000
500,000
1,200,00C
....
....
A. & O. New York
44
J. & J.
1881
Jack.,Lans.dk Trav. &y(Jan.l,’69):
1st Mortgage
2d Mortgage
JamestowndkFra nklin (No v.l ,’68) :
1883
105
1C8
«
•
«
i§72
44
J.&J.
•
•
.
*
44
•
.
....
.
*
....
.
1869
•
....
44
....
44
r
—
7
7
J. & J. Provide'ce
J.&J. Hartford.
J.&J.
*
1876
1876
6
*
18..
....
Junction, Clnc.&Tnd.”(J ulyl,’69):
(Nev
(Nov. 1, ’69):
Kansas.
1st M.
Mortgage, sterling
Mortgage
7.
Memphis dk Little Rock (J an. 1,’69):
1st Mort. (on road and land)...
Arkansas State Loan
Michigan Central (June 1, ’69):
1st
1st
1st
1st
1st
191,000
100,000
7
7
J.&J.
F.& A.
Bridgeport
1877
1885
2,600,000
7
J. & J. New York
7
6
7
7
F.&
F.&
J. &
M.&
A. New York
44
A.
44
D.
44
N.
1870
1869
1885
1875
101
7
7
7
7
A.&
F.&
M.&
A.&
O.
A.
N.
O.
1870
1875
1872
1895
75
60
3,955,000
437.500
2.560.500
2.421.500
7
A. &
A. &
A.&
A. &
O. New York
44
O.
44
O.
44
O.
1875
1875
1890
115
2,500,000
500,000
7
1,500,000
7
1,700,000
7
272,000
7
J.&J. New York
7
J.&D. New York
1st Mort. sinking fund
2d Mortgage
1st Mort. (D., M. & T. RR.)
Milwaukee dk St. Paul (Jan. 1,
1891
416.000
367.500
150,000
887,015
....
....
—
tgag
6
6
6
7
[Philadel.
44
44
J. & J. New York
II
A. & O.
1875
18..
1888
98
81
....
30
....
•
....
....
66
78
•
•
•
....
....
1st Mortgage
2d Mortgage
Tenn. State Loan
Mississippi dk Tenn. (Oct, 1, ’69):
1st Mortgage
Consolidated Mortgage
Missouri R.,FlS.<kGu\fCJaxi.\,’69):
68
80
....
....
....
....
....
....
1887
....
92
96
85
85
«X
85*
J. & J. New York
1896
96*
1886
75*
80
F. & A.
Philadel.
1897
Philadel.
1873
1898
MX
93*
1883
82
82
1877
98
99
1875
1890
1893
1899
95
M.& N. New York
1,489,000
A.&O.
807.500
J. &
F.&
M.&
M.&
500,000
Philadel.
J. New York
A.
N.
N.
J.&J. New York
88,000.
100,000
1,424,000
J. New York ’69-’77
’86-’87
O.
1886
N.
N. Louisville. ’70-*75
267,000
27,500
88,000
333,000
315,000
140,000
1,095,600
621,000
800,000
807,700
1878
....
....
....
....
612.000
397,000
1,961,000
150,000
7
7
7
6
M.& N. New York
44
A.& O.
44
A.&O.
44
A.&0.
441,000
8
J.&J. New York
....
800,000
8
J.&J. New York
....
1,200,000
800,000
250,000
7
7
J.&J. New York
44
M.&S.
44
J.&J.
6
A. AO. Philadel.
7
M.& N. New York
7
J.AJ.
New York
1881
6
6
6
6
F. & A.
A.&O.
F.& A.
Boston.
*90-*91
1874
1870
J. & D.
Boston.
4*
Bangor.
*70-*71
2,<49 500
1,050.000
2,500,000
300,000
F.& A. Baltimore.
London.
F. & A.
M.& N. Baltimore.
44
M.& N.
1891
1891
1896
1896
1,293,000
M.& N. New York
J.&J.
J.&J.
1880
1,300,000
900,000
M.& N. New York
1890
1897
812,000
2,296,000
M.& S. New York
A.&O
A.&O.
M. & S. London.
M.& S.
1869
M.& N. New York
M.& N.
F.& A.
1885
1877
95X
1876
87
J. & J. New York
1893
91
A.&O.
M.& N.
1884
1874
J.&J.
1897
F.& A. Ndw York
F.& A.
M. & S.
1898
1896
1873
1891
1,000,000
1,817,937
577,000
500,000
467,489
6,728,000
2,693,000
5,425,000
1,390,000
793,000
3,730,000
270,000
3,455,000
736,000
246,000
294,000
820,000
1885
1890
1882 116
1882
1860
1872
J.&J.
128,000
7
7
5
New York
tif.
Mort, s’k’g fund, convert...
*
*
t
♦
-
I'
17
-
44
'
.S
-
M.& N. New York
F.& A.
600,000
1,105,700
A.&O. New York 1876
J.&J. Memphis. *81-’93
J.&J.
J.&J.
J. & J.
See ret
(Apr. 1, ’68):
1899
1899
Boston.
18..
rt in C WRONIOL*
M.& N. New York
Aug U8t
1888
1881
•
*
1878
1906
1882
*
8
1
M.&N. Nsw York
44
M.& N.
li.
78
65
92
79
79
100,000
806.900
Income
Sicome (new)
ortgage
Mortgage, sinking fund
Tenn..,.
1st Mort. (State loans)
2d Mortgage....
24 Mort*
10
Income (Tenn. & Ala.)
some
Naugatuck (Jan. 1, ’69):
st Mort. (c
►rt. (convertible)
Tew Yorkidulyl. ’69):
Veicark dk Nt
1st Morti
719.500
.
,
.
.
.
-
M.& N. New York
F.& A.
1,569,000
J.&J. New York
2,465,176
J.&J. New York ’00-*92
44
1887
A.&O.
A.&O. Nashville, 1870
5,000,000
500,000
205,000
-
-
1st
If ortgage
1891
...
Brldgep*t.
196JOOO
600,000
New York
New York
800,000
M.& N. N. Haven.
450,000
96
1915'
3,500,000
250,000
....
85X 87
»•••
J. & J. New York
44
J.AJ.
14
J.&J.
’68):
1st Mort.. endorsed by
68
M.&S. New York 1886
556,000
JSfashv?db 8hat&inooga(Juiy i,v68)*:
....
M.& N. N.Y.&Mob 1882
1882
M.& N. London.
Var.
N.Y.&Mob *61 -*67
1876
M.& N.
1882
M.& N.
4,593,000
386.900
sterling...
Income Bonds
Income Bonds
Interest Bonds
1st
*
91
78
1885
1898
1874
697.900
Mortgage, sterling...
1st Mortgage,
1872
2888
1885
►
...
90
....
«
•
1
nt>der*ev (Jan: l,J6e):
1st Loan
400,000
MX
1873
1876
1892
1,850,000
1,997,000
1,278,980
109,000
Morris dk Essex (Jan. 1, ’69):
>
Vt
87
New York
10
J.&J. N. Haven;
««
103
.
-
80
J. &
A.&
M.&
M.&
1870
J.&J.
*80-’85
M.& N.
1893
A. & O.
A. & O. New York 1898
849,000
225,000
Mortgage
Mobile dk Ohio
1887
....
....
#••4
• •••
2d Loan
84 Lea*
-
1897
J. & J. New York ’70-*78
1881
J.&J.
129,000
500,000
7
96"
149.500
417.500
....
18..
....
1885
1886
....
7
....
to
93)i
7
1,262,000
1,917,000
Mortgage
Mobile dk Montgomery (May-1,’69):
85
....
Philadel.
J.&J. New York
44
M. & S.
1880
1892
M.& N.
J. & D.
2,015,000
1,000,000
1,500,000
300,000
1871
Pittsburg.
1,000,000
1,000,000
1st Mortgage for $3,000,000
2d Mortgage for $1,000,000
1st
8
8
1874
500,000
1890
Mobile dk Girard (June 1, ’68):
....
New York
....
-
Mississippi Central (Sep. 1, ’68):
1st
7
’69):
1st Mort. (Iowa & Minn.,220 m.)
1st Mort. (Minn. Central)
1st Mort, (P. du C., 235 miles)..
2d Mort. (P. du C.,235 miles) ..
Milwaukee City
Milwaukee ana Western
Mineral Point (Jan. 1, ’69):
1st Mortgage
1st
....
1893
J. & J. New York
J. & J.
A.&OJ. & J.
A.& O.
924,000
p,g
....
New York
....
F.& A. New York
7
150,000
Mi rt. Convertible
Mort Convertible, sink fund
Mort Convertible
Mort Sterling, convertible..
Mort Sterling, non-convert!
Michigan S. dk N. Ind.(Mar. 1, ’69):
Philadel.
6,500,000
(Ind. & Mad. RR.)....
2d Mort.^Jeffersonville RK)...
1st Mort. (J., M. & Ind. RR)....
Louisville (endorsed) Bonds ..
JoUet dk Chicago (July 1, ’69):
1st Mort.. sinking fund gnar
JoUet dk N?Indiana (July 1, ’69):
1st Mortgage, guaranteed
1st
Tenn. State Loan.
800,000
(Jan.y©):
$1,100,000 Loan (A. & K. 6R0.
(P. & K. RR.) .
(P. & K. RR.)..
*400,000 Loan (Maine Central)..
Marietta dk Cincinnati (Jan 1,’69):
1st Mortgage, dollar
1st Mort.
2d Mort.
1st Mort. (Scioto & Hock. RR.)
Memphis dk Charleston (J nly 1 ,’69)
1st Mortgage, convertible
2d Mortgage
81
44
•
1.574.500
481,000
Louisville Loan (Leb. Br. Ext.)
Consol. 1st Mort. for $8,000,000..
Macon dk Brunswick (Jan. 1, ’69):
l6t Mort., guar, by Georg(ia
‘
Maine Central (June 1, ’69)
2d
80
Philadel.
Iowa
1st
Iowa I&ver rMaj^, ’69):
1st M. (ElaorirRR.) $16,000 p. m.
Iowa Southern (Jan. 1, ’69):
TO per mile..
1st Morts
►rigage, 1
IronMn (Dec. 1,
1st Mortgage
•
J.&J. New York
1,000,000
110,000
2,000,000
183,000
Kentucky Central (Jan. 1,
1st Mort. (Cov. & Lex.)
2d Mort (Cov. & Lex.)
Sd Mort. (Cov. * Lex.)
Keokuk dk St. Puul (Jan. 1, ’69):
Louisville Loan (main stem)...
Louisville Loan (Leb. Br.)
1st Mort. (Memphis Br.)...
1st Mort. (Bards own Br.).
1st Mort. (Leb. Br. Exten.)
....
....
J.&J. New York
2,116,000
Louisvillede IraiuJ'ort(Jxx\y 1,’69):
....
.
7
500,000
Mortgage, guaranteed
1st
76
85"
.
#
J.* J, New York
A. & O. Philadel.
M.& S.
M.& N.
J. & J.
175,000
150,000
1,500,000
(5.
■
....
....
900,000 7
500,000 7
400,000 7
200,000 7
200,000 10
1st
;e, sinking fund
Lon I
ong
1st M
1st Mort.
Point extension)..
1st Mort. (Glen Cove Branch).
1st Mortgsge, new
....
1,936,000
Mortgage, sinking fund.
2d Mortgage
Houston dk Texas Cent. (Jan.l ’69):
1st Mort. L. G., s’k’g rd (goli) .
Hudson River (Oct. lf ’68):
90
....
1886
1899
500,000
Hcmplleld (Nov. 1, ’68):
1st
83
57
paid.
360,000
Louisv., Cfn.dkLexing.(July 1,’68):
Philadel.
A.&O.
737.500
(Nov. 1, ’68):
Mortgage, guaranteed
Hartfoi'd d: A. Haven (Dec. 1, ’68):
1st Mortgage
JTannibal dk St.Joseph (Jan.18,’69):
Land Grant Mortgage
Convertible
Eight per cent Loan
Ten per cent Loan
Ten per cent Loan
Xaoome
....
MIC*.
fs
at
Where
paid.
7
Lehigh dk Lackawan. (Nov. 1,’68):
1st Mortgage, tax free
Lehigh Valley (Nov. 1, ’68):
1st Mort. (exchange, for new).
1st (new) Mort. (tax free)
1st Mort. (Hazleton RR.)
Little Miami (Dec. 1, ’68):
1st Mortgage
Little Schuylkill (Nov. 1, ’68):
....
8
(Jan.l, ’G9):
Colu?nbia(.Oct.l(’6S):
ffPhila.”
1892
1880
1876
Lake Sup. dk Mississip. {dn\y\
1st Mort. (gold) for $4,
Lawrence (Nov. 1, ’68):
1st Mortgage
80
10’,000
1st
1st Mo:
78
M.& N. New York
44
M.& S.
44
M. & S.
44
A.&O.
44
J. & D.
44
J. & J.
M.& S. London.
3^9,500
.
Harrisb. dk Lancaster
Junction,
1888
Dividend Bonds
7
7
7
7
7
150,000
1st Mortgage
Grand River Valley (May 1. ’68):
1st Mort. (guar.) for $1,000,000..
1st Mortgage
2d Mortgage
1st Mortgaga
94
1898
1896
1880
2862
341,000
722,000
New Bonds
t.
....
J. & J. New York
44
J.&J.
J. & J. Ph’ladel.
44
A. & O.
1,000.000
Georgia— Bonds (April l, V9)....
.
....
1872
1874
1876
1888
.,
JaclJSaginaw (May i,v69):
let Mortgage
Bonds guar, by
it
....
1,281,000
nrtifftcrp
Gr. Rapids dk Indiana
44
M.& S.
....
6
6
7
5
„
1st Mort., guar.
Boston.
London.
Boston.
Q.—J.
2d Mortgage
1st Mortgage (extension)..,—
2d Mortgage (extension)....
Income
Lake Et'ie dk Louisville (July 1,’69):
1st Mortgage
Lake Shore (July 1, ’68):
1st Mort. (C., P. & A. RR.)
2d Mort. (C., P. & A. RR.)
8d Mort. (C., P. & A. RR.)
1st Mort.(C. & Tol. RR.) s’k’gfd
2d Mort. (C. & Tol. RR.)...
....
When
standing
Railroads *
ackawan.dk £loomsb.(I$<
1st Mortgage
98
900,000
290.200
Evansv.
1st Mortgage of 1852 (Ev. & 111.)
1st Mortgage of 1854 (Ev. & c.).
1st Mort. (Rockville extension)
Flint dk Pet'e Marquet. (Jan. 1,’69):
..
<
3,000,000
4,000,000
6,000,000
4,441,000
926,500
186.400
4,844,441
Consolidated Mortgage.
European dk N.
Mine
J.&J.
F.& A.
J.&J.
1,000 000
570,000
1st Mortgage
2d Mortgage
1st
5
5
6
6
6
178,000
Mortgage
85
1908
2,199,000
4th Mortgage, convertible
6th Mortgage, convertible
Buffalo Branch Bonds
Sterling convertible, £800,000...
Erie dk Pittsburg (Feb. 1, ’6.*):
1st
J.& J. New York
1,467,777
640,000
136.400
East Tenn. dk Virginia (July 1,’68):
Tennessee State Loans
Tenn. State Endorsed Bonds...
Elm. dk WiVmxp't. (Janl, ’6S)lst m
5 per c-rnt Bond*
Erie Railway (Oct. 1, ’69):
1st Mortgage
Sd Mortgage, convertible
Greenville dk
7
a full explanation of, this
Table see “ Railroad Monitor
on a preceding page.
'or
-a
•O
1895
1895
506,900
Osov. 1, 68):
Tennessee State Loans.
Ft. W.,
J. & J. New York
44
J. & J.
is
INTEREST.
Amount
1894
1888
7
7
In our Tables.
Out-
93
J. & J. New York
44
J. & J.
44
M.& N.
739.200
214,000
500,000
Mortgage, sinking fund....
East Tenn. dk Georgia (July 1, ’69):
lot
P
paid.
7
7
7
420,000
1st
PRICE.
eI
Where.
paid.
275,000
lien.
Sterling, convertible
Dollar, convertible
Essex Railroad Bonds
New Mortgage
Sd
«
When
100,000
Eastern (Dec. 1, ’68):
Mass, State Loan, 1st
-
CE
1,500,000
Mortgage
1st
cJ
450,000
Southwest.(Jan. 1,’69):
Mortgage
1st
cs ©
INTEREST.
300,000
660,000
900,000
ConstrnctTBonds (2d division).
6inking Fund Bonds, conv
Intbucue dk
[December 11,
CHfcOMOLE.
THE
764
swyw
xxfjm
450,000
100,000
A.&O.
V'-xr
.>
F.&
NeWYork 1815
M
F.& A.
11878
Jtvj
jr.*2r
1881
►THE CHRONICLE.
December ii, 1869.]
»A
f) e Camm-etcinl I®im10.
.
’
r
"
-
414
£
765
.
Exports of Leadlnf Articles from New York*
...
The
following table, compiled from Custom House returns, shows
exports of leading articles of commerce from the port of New
Yoik rince January 1, 1869.
The-export of each article to the
everal ports for the pant week can be obtained by deducting the
amount in the last number of the Ohroniole from that here given.
the
COMMERCIAL EPITOME.
Friday Night, December 10.
and the report of the
rather disappointing to par¬
The tone of the President’s rpessage
Secretary of-the Treasury, was
»©
operating for a rise in the premium of gold, and this hac
some effect in mercantile circles, but the business of the week
has been very fair, some leading staples showing an ad
'VV
ities
.
rt
■r-*C005COGC'0*«>(r,(
OQse-^»asco?»e*cc»05t-ooe*t-eio3J<s*aooi« >/ co co t- co co u* tOs©CO:e©©©u5:£rt«£*00'-< »C © co •- « e? CQ -O1i 00 c- r- OO <si X. O OO i
J
©3^tOO'-«Tr©t-©ioaO©OOCO©
o»
^
^
i-i’irrotroo «t^Q 00
Ort
h
improved
^
^
ISfJSS
g
©
*-T
'
Q. »
0o
|h
«
Jr -^o
*2 irt
O
o
ooo,
ri ©
•
■
£5
O
©
J*
C3
<V
►
»
>55
oi*
•00
•
Olflrt
iS
Sf
«rt
.C©
.1—
•
•
•
O
•
05
•
to
'
coco
3J
■
.
■
•
AB»'e8;..pfcg8.
8,884
ISO Ct
Breadataffe—
Flouf .bblrf.
-
2529,453
119,154
WlatibUii
7,404
W
.I1M19
28,630
12,418
133,913
:240
Barley
Grass seed.
Flax seed..
5.639
37,495
Peas.
C.raeaLbbis
rr
>,674
■
:
1,845
,
106,565
104,592
85.475
199,457
,
llf
v
tine
Rosin
-Tar
Pitch...
Oil cake, pkgs....
*
Oil, lard....7
Oil, petroleum...
Peanuts, bags..,.
'6,
Butter, pkgs....
102
68.T21
7.567
583,496
73.49J
8,493
39
8*^09
7*^97
•
‘
rr r-«
05
1,696
o
:
14,687
5 898
138
rt
T t-
CO 00
•
—
to
>05
,
i,2t«
r-aoo
22,097
11,3:8
80.844
SSfe:;:::::
3»arine
S
§
Tattow/pkes!!!!!
co, pkgs...
co, hhds...
4.182
644
2,182
176
ly.hbls.,.,
I
*7,152
18.714
JhS&m u919
roanhbtum
pF
j
rr
58£96
34,072 I
..
.
CO
C*
HO^K5'>oo6'C-a>-
:
^*1
©i
CO I
Cl CO
•
t—
■
■
t-©t-W»QTH05
pl9
rrt-^Veoct
®
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623,394
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•
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9.090
79.643
482,588
56
Cheese
33,271 ,265,9-2 1,117,048
Cutmeats
1.719.
73.049
0 s;m
4,813
22,750 'Eggs............ 2,411
iPorfc
2,317
78,3 B 114.183
254,933
131733 74,740 130,070
V 22.700
*!*!! 1.976 63.380 106,l.v5
183
1SJ10 ‘V 86,800
807,738 r.LaecLkegs
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425,555
31,308
639.403
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o78.980
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Same
m
.
!'.Sa?d,ptgB8
&
Oot£eri»bMs
turpen¬
Provisions—
984
Beans......
Spirits
Since
Jan. l.
•
o-o't-oo
•
cTrt«f
iim
a
This
week.
•
t- eo 30 CO 1H o»
•
ccr-^co3
CO 00
•
§:
follows:
Since.
Same
Jan. 1.. time *68.
• CO
rlTMOHrt
c? c" CO
■
'f *
receipts of domestic produce fjr the week and since Jan. 1
Tblst
week
•
O
t-
H
as
•-*
90 O
©©©
o
Jan* 1*
time in 1868, have been
Ssoo
O
IM-f
0-^55 55
s
a-
i
Receipt* of Domestic Produce for tlie Week and since
same
•
'co®t^T-T
o
•
delivery, but this has latterly subsided to
some extent.
The closing prices for the early future are
about $29 for Prime Mess Pork, $32 for Mess Pork, $15£
for Cumberland Bacon, and 19c per Prime Steam Lard.
Beef of all kinds have been active as prices are relatively low.
Butter remains dull, but Cheese we notice sold during the
week of about 20,000 bxs., prime factory for export to Liver
pool at 17c.
.coi-i
TO TO ©
O?
So
•
c»c»520
•_
11 ST*
.
future
•
•
•
►»
tracts for
.ooeoowis
TT O O Oi TT OO
-tar-isoci
4
k
ex¬
con
•
.
rt»
'
A
by auction was an unimportant affair,
3
but it served to attract buyers to market and a better busi
H
ness has been done at private
sale, but generally at lower prices. 2 ◄ 5 £3
In. provisions we have still to report a marked scarcity of S j g o-t
ICS
hog products on the spot, and an unsettled tone to the market. g a
9
s
considerable buoyancy in
a
o»
.00050^
.Q
S2S? I
S 0
B Jg
:
.
O
oi
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a
The sale of Wool
*«h
CIO)
«sf
but
cept a considerable business in Calcutta Linseed at $2.l7J@
2.20, gold in Boston. Metals have ruled extremely quiet.
•
•
......
OO 1.0
•
generally remain quiet.
East India goods are without movement of importance
.
•
O
NS?
' '
»
sa^
checking the demand. Rosins, however, with reducec
ocean freights, have
been very active, several thousand bbls
being taken for export mainly at $2 to 2.10 for common to
good strained.
Petroleum' shows some improvement of demand, with a
slight advance in prices, but the market is without buoyancy.
Hops show a considerable falling off in receipts and close
firm. Whiskey has been active and variable, closing lower.
Tallow closas dull and heavy. Fish very firm and Fruits
fairly active.
was
to
:StSgSS •’H'f H •© S
.SST8 S3 :*D
.
t-TOCOO^
:
•
©
<-<
streets
Oils show some.demand for Crude Whale for export,
So
«
K-
receipts, the obstructed condition of the
Early in the week there
© CO
-V
*0
*1312
*
dined under free
Ot. ©
^
Jo
^ ao ^co oa'a’cToToo os'at ti’tp
3*
ff<
limited supply available at the
on a
present time. Breadstuffs have been rather weak for flour
and wh6at, with less doing for export. Tobacco has reraainec
quiet. Groceries have been without especial activity. Hides
have become quiet owing.to an improvement in gold, and the
closing of inland navigation. Leather rules firm.
Naval Stores have been variable. Spirits Turpentine de
00 99
.
^';o©'*ii»'r©35vac>,-<eo«^.r. ©rt-c5fc'»05u,r-teo=2r-i."« Ot-
Cotton has
The
12®
© © *-« t- ^ «C©
vance.-
and for the
© r*
05 35
ipii-iro
r- i-<
I
^ 5^*
£
Imports of
t ie
or
SINCE SEPT.
PORTS.
foliowiag table, compiled
h 1868:
Coal, tons
Cocoa, bags
Metals, Ac—
Cutlery
48 039
57.515
653
4<4
12
■
360,000
125,: 26
17,'97
.5 7
125/87
19,34
974 072
634
950
30
27 073
Bark, Peruvian
Blea powders..
Brimstone, tons
20,565
19,373
6,420
262
54
Cochineal
Cream Tartar..
.©arabier
Gums, crude
Gum, Arabic...
Indigo
1,792
47,214
123
9,324
4
268
1,403
Oil, Olive
3,231
5,768
4
46,115
833
6
Oplnm
9S9
81,728
38,732
3 7,-.26
M
103;
!,89>
5,8 6
269:
4
8 153
108.995
4,2'rO
3,478
Soda, bi-carb...
8oda, sal
Soda, ash
Flax
Fars
©anny cloth
Hair
Hemp, bales
Hides, &c—
Bristles
Hides, drefsed.
mlia rubber.....
Ivory
Je^eiery, <fce—
5 634
pi
'
1,497
17,323
88,9.:
3 215
536;
2,283
10
7
33
.......
.
.
i
Molasses
*
9
.
|
i
.1
-i-k!
’ * *1
53,355
SG7,2r2
384,281
80,541
870,S56
551,988
2.4 0
1,131
5711-36
168.466
12
743,763
503,322
Nuts
Raisins
Hides undressed
Ri^e
21,974
2,806
Ginger
211.906
Pepper
52.491
185,844
14,407
139,200
1 694
178,761
74,717
42,379
fO 1.879
228,585
810
86.897
104.1.0
2,050 Saltpetre
•
WoodsCork
Fustic
2,281
1 (.98
535.427
1^0,442'
180 645
40 522
261.713
202,252
142
Cassia
30 014
719,789
899,679 1,504.27?
321,827 9,928,133 6,864,673
241,936 814,6; 0
Spices. Ac—
•
•
•
11,443
Logwood
Mahogany
12/965
COTTON.
Friday,
P. M., December 10,
1869.
each of the
the
this evening(
By special telegrams received by us to-night from
Southern ports we are in possession of the returns showing
receipts, exports, &c., of cotton lor the week ending
December 10.
From the figures thus obtained it appears that the
total receipts for the seven days have reached 100,848 bales (against
103,054 bales last week, 88,284 bales the previous week,
bales three weeks since), making the aggregate since September
1,1869, up to this date, 1,002,666 bales, against 801,317
same period in 1868, being an increase this season over
season
•f 20 1,349 bales. The details of the receipts for this week (as per
and 81,818
bales for the
last
tslegraph) and the
corresponding week of 1868 are as
bales
Mobile
Charleston
Savannah
Texas
Tennessee,
Ac
1868.
1869.
Kec’d this week at—
New Orleans
follows:
186k.
Rec’d this week at-
189
bales.
35,260 Florida
2,896
12,287 North Carolina
7,182
7,905 Virginia
15,814
100,848
Total receipts
4,516
Increase this year
6,085
32,116
15,191
9,129
19,868
7,563
6,264
last season, as
784
1,262
4,981
Exported to—
Week ending
Dec. 10.
Contin’t
14,797
1,947
7,433
8,252 :
4,588
New Orleans
Mobile
1868.
1869.
22,230
20,747
114,205
50,965
4,817
6,227
14,588
50,937
44,789
12,146
82,258
TfXM,
New "fork
Other ports
84,279
18,126
1,301
4,798
8,212
6,658
1,408
1,853
10,867
17,244
2.0
416
38,272
Sept. 1... 812,918
20,108
f
181,000
to-night:
week.
9,044
Savannah
1868.
118,630
25,000
27,561
416
176
17,899
13,482
58,380
50,119
888,469
307,873
266,992
493,918
will he seen that, compared with
the corresponding week of last season, there is an increase in the
exports this week of 8,261 bales, while the stocks to-night are 40,381
bales more than they were at this time a year ago. The following
is our usual table showing the movement of cotton at all the ports
from Sept. 1, to December 3, the latest mail dates. We do not
include our telegrams to-night, as we cannot insure the accuracy
or obtain the detail necessary, by telegraph.
From the
f
foregoing statement it
1,610
8,556
485,588
89,159
71,788
191,309
I2I2O
55,(20
26,000
806,776
258,857
has continued to show great firmness
Liverpool and Manchester; an increas¬
disappointment the
small stock
ing' demand from our own spinners ; some
at
daily receipts at our ports ; together with the very
now
held here and a growing disposition among the shorts to cover.
For, forward delivery there has been considerable activity at
improving rates. Sales of this description reach a total for the week
of 12,050 bales (all low middling, or on the basis of low middling,
bales were for Decem¬
and 550 on private
terms ; 2,000 bales for January, 700 at 244, 250 at 24f, 200 at 24$,
100 at 25, 100 at 25£c, and 650 on private terms; 2,800 bales for
February, 200 at 24$, 400 at 24f, 200 at 24£, 800 at 25,100 (averagf
middling) at 25£, and 1,100 on private terms ; 1,850 bales for March,
100 at 24|c, lOOat 24$, 600 at 25, 50 at 25±, 50 at 25*, 100 at 25f,
450
private terms, and 400 bales middling, 200 at 25f and 200
at 25 15-16 ; 900 for April, 600 at 25*, and 300 on private terms;
also 1,200 bales free on board at New Orleans, on private terms,
200 present delivery, and 1,000 December.; 700 bales do. do.
Mobile; 200 do Savannah at 23f, and 400 do Charleston, 200 at 23|,
and 200 at 24. The total sales for immeu *»te delivery this week
foot up 19,228 bales (including 5,415 bales to arrive), of which
7,360 bales were taken by spinners, 1,558 bales on speculation,
8,810 bales for export, 1,500 bales in transit, and the following
except as hereinafter stated), of which 2 000
ber, 350 at 24|c., 600 at 24$c., 500 at 25c.,
on
are
the closing
quotations :
Upland and
-
Florida.
per
24
lb.
®....
24%®..,.
25
@....
25%®....
New
Mobile.
Orleans.
Texas.
24*®....
24%®....
25*®....
25*®....
24*®....
25%@....
24*®....
25*® ...
25*@....
26
®....
26$®....
Below
at this
we
give the total
market each day of
sales of cotton and price of
the past week:
Upland and
sales.
Florida.
New
Mobile.
Orleans.
middlinf
Texas.
11
Stock.
5,199
945
improved accounts from
the
Total
Total this Same w’k
6,911
6,658
Charleston
Total..
Total since
G.Brit
7,6ll
1,610
726,812
24,878
78,541
*2,466
prices were firm at
continued, and this evening the market is strong at a
further improvement of }c., middling uplands closing at 25$c;
some sales, however, were reported after the market closed at 25fc.
The cause for this renewed strength to the market is to be found in
88,89i
week ending this evening
telegraphed to us from the various ports
20,610
15,228
45,803
1868.
reach a total of
58,380 bales, of which 38,272 were to Great Britain and 20,108 bales
to the Continent, while the stocks at Jail the ports, as made up
this evening, are now 307,373 bales. Below we give the exports
•and stocks for the week, and also for the corresponding week of
exports for the
5,584
1^4,788
42,658
*
became more active
speculative business,
-$c. advance. To-day this upward move¬
2,121
2,867
1,(74
8,632
5,974
8,560
Saturday
The
2,522
1,855
*
274,646
the past week
Ordinary
Good Ordinary
how Middling
Middling
BBCXIPTg.
BXOEIPTS.
r11,535
38,669
'7,089
60,452
87,895
12.21,1
ment has
5 3.(71
659,172
260
*‘"50
....
and
434,702
759,102
1,211
174,882
89,893
27,081
52,874
8,588
122,504
“**50
86.662
2,713
ings were very light. Thursday the inquiry
from both spinners and for export, with a fair
516,591
8,6‘5
4,929
35,952
167,219
51,578
25,897
G,6 8
15,811
47,608
14,138
61,588
4,811
strength. Saturday, on a very limited demand, prices fell off
■fcc., but the next day, Monday, this was recovered, middling
uplands closing at 25£c., the same as on Friday. Tuesday, with a
decline at Liverpool, our market was extremely quiet, the total
sales only reaching 1,074 bales; but prices were unchanged and
remained at the same point also during Wednesday, though on
the latter day the demand increased, and at the ruling rates offer-
27,492
33,930
Oranges
1,313
8,720
48,794
82,869
25,610
88,817
7,288
06,880
•took,
and
41,79‘i 2,028 4 *1 1/60,251
Lemons
12S,787
83 876
97.651
Our market
....
11768
121,820
901,818
Total last year,
26,911 $804,694 f621,367
379
125,110 i; 6,533
Fruits, Ac—
5.982
12/16
7.6S8
113 363
176,996
3,806
729
Fish
1,7 9
47,611
1,281
2,579
Wool, bales
Articles report’d
by value—
550 Cigars
42,028 Corks
1,016 Fancy goods....
36,412
2,189
2,9c 2
3,248
4,310
12,90.
118.918
89 965
754.714
816.601
46 777
641
Wines
!
Jewelry
97,615
6,521
A bbls
Suears, boxes*
bags
13,182
29 802 Tea
8,9:2 Tobacco
5,075 Wasi e
1.689 Wines, Ac—
Cliampag’e.bks
20,1*42
515
677.290
410.260
3,09J
Rags
1,151
608
Madder
Oils, essence
Steel
Tin, boxes
Tin slabs, lbs..
1,091/00 Sugar, hhds, tes
2,361
513 241
110.254 10562456 5,747,518
5,447 163.957 251,152
8,629 1,122,366 820,596
£0.000 4,028,882 4,8.57,983
Spelter, lbs....
6,7:4
*■
872,169
9,744
Lead, pips
23.919
5,458
73
720
52
4.756
25,723
78,987
10,485
Total this year
3,881
5,200
4,021
4,849
97
Hardware
Iron, K.R bars.
10.G71
48.083
430,-138
17,893
8,b26
210
1,'82
44,248
Coffee, bags
Cotton bales
Drags, &c.—
Watches.
Linseed
lime
1868.
804,877
76,862
62,623
Virginia
Other ports
Same
time
1868.
Since
Jan. 1,
1869.
week.
and
EarthenwareChina
'..
Earthenware .i.
Glass
Glassware
Glass plate
Buttons
Florida
worth Carolina.
For
the
Same
Since
Jan. l,
1869.
week.
For
the
China, Glass
Texas
New York
in packages when not otherwise specified.]
Great FrAtirp Other
Total. nobth.
a ranee
POBTS
Britain.
f0refgD
1868.
106,7 2
101,813
194,017
62,105
19,066
6,751
SHIP.
m’tsto
296,079
New Orleans....
Mobile
Charleston
1 TO—
1.
1869.
Savannah
[The quantity Is given
XXPOBTED SINCE SEPT.
BECEIPTS
Leading Articles.
from Custom House returns, show
foreign imports of certain leading articles of commerce at this por
the last week, since Jan. 1, 1869, and for the corresponding period
The
[December 11, 1869.
CHRONICLE.
THE
766
Monday
Tuesday
Wednesday
Thursday
Friday
25
<§>....
25%®....
25%®....
25}$@....
25*®....
25%®....
25*®....
25%®....
25%®....
25%@....
25%@....
25*®....
„
25*@....
25%@....
25%®....
25%@....
25*®....
26
@....
25*@....
25*®....
25*®....
25*®....
26
@....
26*®....
Crop.—The receipts to-night continue on a libe¬
the arrivals are free and fully up to
expectations, except at New Orleans ; at that point there is a
decrease, the total for the week being still below the amount anti¬
cipated during this portion of the season. Another week must, we
think, show a decided improvement, as the rivers are reported now
to be in quite good boating condition.
It will be seen that the
total receipts since Sept. 1 still continue to be 25 per cent in
Receipts and
ral scale,
At all the ports
small
the falling off at New Orleans.
Washington has made up its
2,700,000 bales.
fact of the week,
affecting the price of Cotton here, is the upward movement in the
Dry Goods market, Sheetings having advanced one-half cent.
We showed a few weeks since that, with low middling at 24o.,
Sheetings were selling at a loss, and that therefore spinners could
not afford to stock up until some change was effecteddn the rela¬
tive values of Cotton and Goods. Early this week agents, as
stated above, took the first step upward in the face of an extremely
dull market. This has been induced by the obstinacy with which
Cotton has resisted any decline below 25c. and the tendency on
the slightest activity to go dbove that figure. No alternative was
left spinners, and the result is that to-day there has been a decid¬
edly increased inquiry for Sheetings, buyers beginning to realize
that goods are really cheap unless Cotton declines materially. Ot
course, however, our spinners must not anticipate any increased
of last year, notwithstanding
The Agricultural Department at
estimate of the crop, placing the total at
Prices and our Spinners.—The important
excess
December 11, 1869.]
THE CHRONICLE.
767
‘
consumption of goods this year, if they are compelled to advance
should keep their stocks of the raw material
To London, per steamer
Fellona, 125
To Bremen, per steamer Union, 1,181.
To Hamburg, per steamers
Holsatia, 750...
To Rotterdam, per bar*
Undme, 182
To Mexic o per
104.
New Orleans—To Liverpool,
rates, and hence they
and of goods small.
Crops of India and Egypt.—Letters from the East Indies do
not contain quite as favorable accounts from the Hingunghat
country as were current earlier in the season, but continue to state
that should the weather remain fine, an excellent crop of cotton
may he expected in the central provinces and in the Berars. With
regard to Hingunghat and the Berars, Mr. Rivett Carnae reports
follows
as
...
To—
.
im
1868
1867
!>66
1665
1864
Shipments from Nov. 1
to Nov. 11.
follows
were as
Gt. Britain.
12,708
Continent.
4,894
3,201
9,947
5,343
Savannah—To L
2.714
Baltimore—T>»
2,788
7,820
1,921
pe
per
b.
The
Total
6,850
1,649 Up and and 60 Sea
1.690
Arm.-troner, 1,522 Upland
Meaner
1,522
1,468
l
mourtible)
60
69^974
particulars of these shipments, arranged in
follows
651
ra
Total
9,741
from New York since
4,4( 8 Up and
s,
Mo, i,«i6S
Wilmington—(Cleared eAriy la t m -nih, but omitted fr
To Liverpool, per brig W. H. Bigelow, 50
usual form,
our
are
:
,
Wilmington.
Later telegraphic advices show a continuance of
shipments on
the same liberal scale.
The exports of ccttou this week from New Y »rk
slow an increase
from last week, the total
reaching 14 6 4 bales, against 10,002 bales la»t
week.
Below we give our table showing the
exports'of cotton from
New York, and their direction for each of the last fou *
weeks ; alec
the total exports and direction since
September 1, 1869 ; aud in the
last column the total for the same period of the
previcu- year:
jSxporlsof Cotton (baton)
toren eD,
,AST
Ermesindi, 231
Bre- Ham- Rotter-
ion
men.
126
1,181
bu’-g
1,0-8
2,005
Earce-
Ve
a
dam.Havre.lona,&c Cruz,Ac
182
623
5,461
1,859
395
Mexico. Total.
1(.’4 14,604
55,456
11,561
1, 88
..
6,715
10,318
625
rpool,per ship Ironsid1
Bess»e Crosby, 1,917 Upland
To Havre, per bark Ros it*
McNeill,
Island
To Bremen, per b rk T. H.
New York ..11,921
New Orleans.16,982
Mobile
9.70 i
Charleston
6,076
Savnnah... 6,350
Baltimore
13,148
8,057
5,09 j
7,565
v-
Liver- Lon-
Total.
17,603
6,C76
....
poel.
s
9,702
1,^69
2,0^3 Upland....Mary Killam, 4 cea Island and 1.301
Up and
Annie Kimball, 15 Sea Island and 2,821
Upland... per nip Ellen
Southard and per ■ ark Jtrome Jones (add
tioral), 349Upland
To Barcelona an Majorca, per
brig Jovt-n A- tonio, 537...
To Bnrc.elona, per brigs
a. Fome> to, 420
Palacre
as
:
688
895
.
The latest advices from Alexandria mention that that market is
well supplied with cotton, and an increased
yield is anticipated.
The shipments since the beginning of the
new cotton year (Nov. 1)
for the
6,451
2,006
..
the ohief damage has taken place, and the Hingunghat
country, it must be remem¬
bered, furnishes less than one-sixth of the exports from these provinces. In the
I believe, no cause for alarm, and if all goes well now, the
Berars there is.
crop
will be an excellent one.
Doubtless the rain knocked off
many flowers and young
bolls, but these losses will, it may be hoped, be repaired by the bright sunshine, with
which the provinces are now favored, acting on the moist soil.
The damage was at
first evidently exaggerated.
Heavy rain at this season is always alarming, the
plant looks miserable, the weather depresses the cultivators and every one else,
and gloomy reports are received from all quarters. But with the return of the
sun¬
shine the plant recovers, and with it the barometer of
every one’s spirits rises, and
the reports that follow are less alarming.
The heavy rain in West Berar filled the
quarries and foundations of the bridges with water, and necessarily somewhat im¬
peded the progress that is being mad* with the branch line of railway to Khangaon.
The works will nevertheless, it is hoped, be finished
early in January next, and the
new railway will be ready to carry the
large and excellent cotton crop that may be
confidently expeced.
The figures
16,982
,
I fear we shall not have ihe extraordinary crop in the
Hingunghat oountry that
at one time hoped for, but as the weather is now fine, and as the area sown
with cotton is larger than ever, a good out-turn may be expected. It is here that
years.
182
J04
►
..
was
considerably in excess of previous
first eleven days (the latest mail
dates)
1,088
.Borussia, 888
hips W&verly, 2,193
Royal Charlie,
2,732
Ee’ll worth, 3,868
General Chamb riin, 4.154....Roseneath, 958
Wm Cnmmings, 2,900
r bark Lathe la, 180..
To Havre, per
hips D. W. Chapman, 3,039
Clara Killam, 2,412...
To Bremen, per
steame-Hermann, 2,005
To
Hamburg, per brig nduetrie, 623
To Tobaeco n l Yera
Cruz, per br?g Mexico, 895
Mobile- To Liverpool, per
st amer Australian, 6,495
Pe 6bip W. A.
Campbell, 4,207
■
To Havre, per
ship Ida Lilly, 1,859
;
Charleston—Jo Liveipool, Iperjbarke l)on -Tnsto, 63 Sea I-land and
per
;
have been
125
1.181
1.522
7.264
1,699
1,468
9,571
1,468
50
51,084
60
125
Gold, Exchange
6,176
1 711
182 9,0;9
1,188
395
104
69,674
Freights.—Gold has fluctuated the paat
week between 122f and 124, and the close
to-night was 123^.
and
Foreign exchange closed fairly active, although the rates are kept
by the supply of bills made against exports of bonds. Tha
following are the closing figures : London bankers, long, 108f@
108f; short, 109@109L and Commercial, 108@108£.
Freights
closed as follows:
To Liverpool,
5-16@fd by steam and 3-16@|d
by sail ; to Havre, lc hy steam and |c by sail; to Hamburg, -Jd by
steam and |d by sail; and to
Bremen, lc by steam and |@|c by
sail.
down
Sept. 1, 1899
'
WEEK ending
Total
EXPORTED TO
Nov.
16.
Liverpool
Nov.
6.48.)
Other British Ports
Nov. I Di
1
| 30.
23.
9,437
,
6,480
9,437
7,162
Bremen and Hanover
68623
281
1,791
12,049
96,830
70,314
5,561
9,943
3
440
781
Hamburg
900
....
Europe.
5,564
1,088
10,180
8,540
11,860
9,338
182
200
1,181
....
781
3,208
....
All others
Total
Spain, etc
-
Grand Total
756
2.451
18,852
*i04
1,768
1
••••
1,654
7,925
••••
104
1,758
12,645
1,300
10,002
14.604
122 50 4
If 2,9'6
September 1, 1869
NEW
YORK.
This
Since
week.
Sept. 1.
BOSTON.
This
1,337
Savannah
Mobile
Florida
South Carolina.
North Carolina..
4,906
.
North’rn Porte.
Tennessee,
Foreign
....
...
Virginia
&c.
25,395
11,091
69,721
4,736
2,466
856
•
.
.
51,09?!
2,19!
1,717 :
4,391
'
209
19,(84 (
39,096
2,565
3,487
22 684
•>• ••
....
1,497
•
•
•
•
•
BALTIMORE.
Since
This
Since
.
8,111
•
250
•
This
:
Septl, week. Sepi 1. week. Septl
.
New Orleans.
Texas
PHILADELPHIA
[Since
week.
•
•
103
•
•
775
•
•
61ti
535
•
•
5,960
•
483
•
1,887 12,9)8
1,150 16.909
8i 0
5,475
•
•
700
....
.
....
2,041
7C
•
373
»
7
88
•
•
•
7,961
....
•
•
3,890
•
•
•
461
96
267
•
5.284
1,69S
«
928
...
•
•
•
1,371
14,781
•
86
Satur.
•
•
•
4
144
1,049
4,704
3,103
6
....
17,000
28,000
835,000
19,000
292,000
139,000
Nov. 28.
Mon.
Tue».
•
and
75,00*
11, C“
285,600
100,000
qniaf. The
Wednes.
PriceMidd. Uplands.... 12 ®.... UK®.... 11*®....
“
•*
U*®
Orleans
12*®.... 12 ®.... UK®--. 11K®....
*•
"
Up. to arrive
European
Nov. It.
66,000
10.0*0
5,000
888,000
2’,000
290,000
115,000
...
.
The folio wit.g are the
receipts of cotton at New York, Boston, Pbila
delphia and Bulliuc *e for the last week, and since
receipts rnoM-
10,000
6,000
S 9,300
21,000
320,000
178,000
972
328
...
Dec. 3.
128.000
Trade Report.—The market-for
yarns and fabrics at Manchester is
following table will show the daily closing prices for the week.
21,398
L654
Spain, Oporto and Gibraltar &c
Dec. 10.
54.000
Total sales
Sales for export
Sales on speculation
Total stock
Stock of American
Total afloat.....
American afloat
9,943
182
856
400
2,308
....
Other ports
Total to N.
96,049
440
654
market has ruled firmer to-day, aud
closes steady at slightly better figures, tales
of ihe
bales, 2,000 of which were taken for speculation and day have foo.ed up 12,000
export. According to the
Brokers* Circular,” issued to-day, under the
authority of the Liverpool Cotton
Brokers’ Association, the salej of the week have
be«n 54,000 bales, including 10,100
bales lor export and 5,000 on
leaving 39,0.0 to the trade. The stock
In port, including cargoes onspeculation,-et
shipboard
unladen, is put at 319,309 bales of
which 21,000 were
imported lrom the United States. The to al receipts of co ton
for the week from all
pa' t« were 34,000 bales, w hereof 16,000 were from America.
The stock at sea hound to this port is estimated
at 320,000 bales, of which 1.8,000 are
American,
"
....
Total French
By Telegraph from Liverpool—
Liverpool, December 10,4-30 P. M.—The
I>rev.
year.
date
12)
e64
Other French ports
Same
time
11.924
tt.t
Total to Gt. Britain.
C.
7.
i
7,152
to
8**:::: U-*
Indian Cotton Markets.—Id reference to these
mar
kets, our correspondent in Loudon, writing under the date of Novem¬
ber 27, states’: /
Liverpool, Nov. 27.— Cotton has been in fair demand, but
freely
offered throughout the week, the market
generally closing ratter
below the quotations of last
Thursday. Sea Island has been in
steady demand, and some considerable sales have been made in the
commo •
qualities, at about Id decline from previous prices. Amer¬
ican has declined
partially
per lb.
For Brazil there has been a
fair enquiry, but prices in some instances are
per lb lower.
For Egyptian
the demand, has again been
large, bnt it
is
freely met, and prices are without change. Of East
India the supply offering has been in excess of the
demand,
especially in qualities at and under fair, which are offering at
to
decline ; the finest grades continue
generally steady. The transaction*
“
to arrive n continue
considerable, chiefly in American, and
after
some
slight variation in prices the latest quotations are—American, basis of
Total this year 19,102
247,835
6,078 47,735 ! 1,784 13,995
8/81 34,643 middling fr om Savannah, ship named 11 1-16d, 11 Ad ; steamer 8Darned
11 5-16d—O leans, November-Decembsr
Total last year. 19.919
1
shipment 11 3-161,11^1—any
228,466
7.119) 47 238
602
9.820
2,000 22,837
port,November-December shipment 11 l-16d ; December-January lid,
Shipping News.—The exports of cotton from the United States
the 11-frd—low middling,Orleans, November-Decembsr sh pment
11 d—Tex¬
past week, aw
per latest mail returns, have reached 69,974 bales.
So as, December-January shipment lid ; at sea ll±d pe lb. The sales of
far ai the Southern
ports are concerned, these are the same export* the week, ineluding forwarded, amount to 65,820 bales, of which
4,910
reported by telegraph, and
published in the Chronicle last Fri¬ are on speculation, and 9,970 declared for export, leaving 60,9!.0 bales
day, except Galveston, and the figures for that port are the
exports for to the trade.
twi weeks back.
With regard to New York, we include the manifest¬
The following are the prices of American cotton :
ly up to Tuesday night, to make the figures correspond with the offi¬
cial week.
-Fair
G’d &—%
—Same data
1
Below
give a list of the vessels in which these
both North and South, hare been mado:
we
ments from all
ports,
.Exported this week from—
flaw York—-To
U92
-
\
ship¬
Stained...
Total bales
Liverpool, per steamers City of New York, 618.... Java,
...Minnesota, 2,908....Aleppo, 1,082....France, 8,248....
71*0..*.Agmemnon» 1,881....City of Brussels, 284.. .Per
ehipAlex
Marshal, 100
Description.
Sea Island...
..
.
r—Ord & Mid—,
.
13
8
20
11
Ord. G .Ord, L.Mid.
10* 11* 11*
,
Upland..
g’d fair
23
12
-26
-13
Mid.
11*
10*
11,924
Texas.
11*
11*
11 9-16
10*
10*
11*
11*
11*
11*
11*
11*
fine.
80. -48
15
-17
Mid.
24
12
G’d Mid.
-11*
..
..
,
,
-11*
-12
-12
1868“%
Good.
26
18
80
17
11*
11*
11*
11*
13*
•
..
..
Fair.
•
-
,
*•
n*
11*
12*
[December 11, 1863,
THE CttJtONICLE
768
-9-
1
e-
TV
TOBACCO
.-
as
10,1869.
Friday, P. M., December
Seed leaf also remains rquieL: The large yield irregarded
unfavorable to the current high prices. v The only sales ge.
ported are 50 cases Connecticut. wrappers 40 to 60&;28
’
Western, a straight lot, at 13c.
slight increase in the exports of crude tobacco
Spanish tobacco has been more active; the sales embrace
this week, the total from all the ports reaching 751
765 bales Yara I and II cut. and 135 do. II cut., on private’
hhds., 305 cases, 1,075 bales, 773 ceroons, and 77 hhds stems terms, 150 bales Havana, 95 to 1.10c, duty paid. The
against 538 hhds, 147 cases, 2,083 bales, and 1,159 oeroons movement in Yara embraced all in first hand*, taken by
for the previous seven days. Of these exports for this week a jobber.
: t.
There is nothing new in manufactured tobacco.
291 hhds,, 270 cases 453 bales, 773 ceroons, and 158 pkgs
The following are the exports of tobacco from New Yoik
were from New York; 449 hhds, 622
bales and 77 hhds
for the past week:
sterns, 10 hhds from New Orleans; 1 hhd and 35 cases from
Boston.. The direction of the shipments of hhds. was as
EXPORTS OF TOBACCO FROM NEW YORK.*
Maul'd
follows: To Liverpool 139 ; to Bremen, 420 and 77 stems;
Hhds. Cases. Bales Ceroons Pkgs
lbs.
to London 21; to Malta and Gibraltar 92; to Rotterdam Liverpool
2
London
Bristol
42 ; and the balance to different ports.
During the same Bremen
432
773
13
Rotterdam
period the exports of manufactured tobacco reached 40,551 Hamburg
10
21
12,319
93
92
5,850
lbs., of which 1 2,319 lbs. were to Hamburg. The full par. Malta and Gibraltar
Dutch West Indie*
1,620
16
3
British West Indies
ticulars of the shipments from all the ports were as follows :
8,881
5
15
There is
cases
a
•
•
0 •
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
....
•
•
•
•
•
..
..
Canary Islands
Mail’d.
Hhds.
.
35
....
....
•
•
•
•
•
....
10
....
773
1,159
751
533
305
147
1,378
283
1,849
Total last week
Total previous week
give
of Tobacco from
158
187
77
....
126,348
usual table showing the total export
all the ports of the United States, and their
Cer’s
2
183
1,719
Germany
Belgium
Holland
719
42
Denmark
-
•
....
-
•
58
291
France
Spain,Gibralt. &c
...
Mediterranean
Austria
Africa, &c
•
•
•
....
•
•
•
•
•
•
.
Total since Nov 1....
••••
283
•
«
Boston—To
„
•
•
•
•
.
•
•
•
•
•
....
»
•
•
•
•
•
ft •
773
453
1,176
....
•
•
—— —
-
.
50
96
12
••
••
■
■
158
10,054
—
84,900
for the week, from
• •
•
•
•
•
Friday, December 10, 1869, P. M.
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
The market for
•
•
•
•
• •
*
•
•
•
•
•
•
•
•
•
•
•
•
••••
•
•
•
•
•
•
•
•
....
•
•
•
....
•
•
•
•
....
•
•
•
•
.
•
•
•
•
•
••••
••••
•
•
•
•
•
t
r
39
25
5
B
748
.
7,226
.
,
.
+
169
410
205
•
m ft ft
....
.
550
1,932
•
•
•
•
•
110,284
•
10
—
999
•
•
40,535
58,777
•
•
•
•
•
accounts
•
•
•
•
•
the absence of that buoyancy
-from abroad, and
which was expected in the gold premium, have resulted in a
decline of prices of 15 to 25c. per bbl. The export demand
has been good, taking 5@6,0j0 bbls. per day, but the trade
demand has been exceedingly small, owing probably, to ihe
1,014
•
ice, and -
The receipts of flour have fallen off to about the wants of
the market; stocks are moderate, but the pressure to sell
from the wharf, owing to the increased cost of storing, the dull
ft
•
.
.
,
breadstuff's, the past week, has been quite
variable and closes weak and unsettled.
The Erie Canal has been completely closed with
the railroad trains partially impeded with snow.
8,528
•
•
.
•
BREADSTUF PS.
•
•
•
•
•
•
•
•
.
•
•
•
•
•
•
•
•
•
• • • •
•
•
•
exports in this table to European ports are made up from man<
lbs.
4
.
•
•
•
....
„
•
The
166,445
•
•
•
•
•
....
■»
•
Barbaboes, 35 cases....To St. Thomas, 1 hhd.
....
•
-.
•
*
•
.
....
—
■
•
•
....
.
•
ft » ft *
21,871
•
•
•
•
•
•
..
•
•
•
•
•
•
•
•
••••
1S5
257
149
1,415
•
•
•
....
....
.
6,430
•
....
All others
•
•
•
••••
»
•
69
247
•
•
•
32C
....
.
.
1
73
5
•
Honolulu, &c
•
1
•
•
....
•• »•
•
51
58
39
«
•
230
••••
••••
-
•
1,932
••••
452
....
B. N. Am. Prov
South America
West Indies
East Indies
Mexico
•
•
270
...
Pkgs. Mant’d
& bxs.
hhds.
•
•
564
120
China, India, &o
Australia, Ac
•
•
•
•
•
120
■—
•
since Novent*
Stems,
....
5,990
•
•
•
131
••••
11
1,220
Italy
Bales. &tcs.
••••
-
....
•
ifests, verified and corrected by an inspection of the cargo.
•
699
•
•
—
*
Exports of Tobacco from the United States
ber 1, 1869.
Cases.
» •
•
i
Bait'mnre—To Bremen. 419 hhds, 77 do stems and 622 hales....To London Si
hhds ...To St. Johns, P. R., 2,875 lbs....To Damerara, 5 hhds, 2,776
lbs Manufactured
To Mayaguez, P. B., 4 hhd3.
New Oileans—-To Liverpool, 10 nhds.
our
Hhds.
•
«
....
•
The direction of the foreign exports
the other ports, has been as follows:
40,551
90,491
direction, since November 1, 1869:
To
Great Britain
•
.
•
•
....
188
1,075
2,033
•
.
•
••
H*
Total
....
....
....
....
....
•
Argentine; Republic
....
....
....
....
•
•
....
■
Total
we
....
•
Oisplatlue Republic
6,051
622
....
...................
Below
77
449
1
.
....
vew Granada
Venezuela
Hhds. Cases. Bales.Ceroons. Stems. Pkgs. lbs.
453
773
291
270
...
15S 34,900
Exp’d this week from
New York
Baltimore
Boston
Phils del) hia
New OrUans
Portland
Ban Francisco.
•
•
.
....
l-o to Kico
•
....
....
•
.
'
’
•
*
•
•
•
•
•
....
•
•
•
•
•
•
•
•
407,463
following table indicates the ports from which the large purchases for this account in anticipation of the late rise.
At the close, the lower prices caused fomt5 specula ion, and
above exports have been shipped:
holders are disposed to resist further concessions, in anticipa¬
Tcs. & Stems Bxs. &
Lbs.
tion of an early revival of business for consumption.
The ex¬
From
Hhds.
Cases.
Bales,
cer’s.
hhds. pkgs. Manfd.
The
New York
Baltimore
2,925
2,7x8
25$
Boston
1,034
7
4,696
1,778
296
751
1,932
460
....
550
....
...
534
New Orleans
San Francisco
871
Virginia..
1
77
...
....
Wheat has lost most
....
....
....
....
....
previous fortnight.
....
in
....
Total since Novi.
.,
6,480
1,415
7^226
The receipts of tobacco at New
Nov. 1 have been as follows:
From
Virginia
^aitimore
New Orleans
...
76
63
40
* 999
407,463
York this week, and since
RECEIPTS AT NEW YORK 8IN0E
.—This week--*
hhds.
pkgs.
23
2,0'8
45
80
550
1J)32
NOVEMBER
144
pkgs
7,214
114
25
....
929
....
73
924
140
,-T’lsin.Nov.l—
hhds.
pkgs
167
9,272
159
25
1,005
...
store
and
of the
advance
gained in the
Receipts have nearly ceased ; the stock*
afloat at this
market
are
about five million
bushels ; it is reported that railroad freights from the West
will soon be reduced; the quotation from Liverpool is re¬
duced 3d per cental; the gold premium has lacked buoy¬
ancy ; all these circumstances, which, except the first
have been adverse to holders, have had their influence in¬
creased by a strong speculative combination to force down
named,
1. 1869.
Previously—»
hhds.
Western extras at $5.20®
$5.40.
.
....
Portland
Other
..
5
Philadelphia
Ohio, &c
port has been mostly in common
28',804
31,065
103
....
987
180
At to-day’s market, the decline brought in
buyers at $1.17£ for No. 3 Spring, $1,22 to $1.25 for
prices.
closing firm.
Corn is in very
export
No. 2,
light supply, and prices rule firm, but there
speculative buoyancy. The receipts of new Corn are
Total
144
2,19i
1,212
8,351
1,356
10,542
yet small, hardly sufficient to establish prices. New Yellow
The market for tobacco the past week has been very quiet, ^Ifelaware sold at $1.08 ; new Southern White $1.03@$1.06,
new Ohio mixed $1; Jersey Yellow $1 00@$1.05.
without important variation in prices.
Oats have declined lc, the market being left for support to
In Kentucky leaf the sales for the week have been limited
the current wants of the trade, which have been very light.
to about 350 hhds., of which all but about 5.0 hhds. were
Rye is scarce and nearly nominal.
taken for home consumption. The sales were made up
Barley has continued to strengthen on the improved ton J
mostly of small parcels, and prices have ranged form 9 to
14c. for common to good leaf.: The reports of injury to neyr noted in our last, with a very good demand, but the close ia
crops are not so serious nor general as in the latter part of very quiet. Canada Peas have been quiet,
November.
ii
The folios i&g *re closing quotations:
.
is less
December 11, 1869.]
THE CHRONICLE.
769
j^sggssssssssmsssi gsss gas sss
Wbeat^pring, per busfc. $1
Red
flour—
Superfine.......# bbl. $4 60® 4 90
Amber do
White
5 10® 5 40 White California
Extra Western, com¬
mon..
13® 1 80
winter
6 85® 6 65
Artra State
Corn, bush
Date, bush
extra and
finally.....
California
Ere Flour,
fine
63,209455
*
4, 1869.
»*c.
...
..
4 60® 6 85 Peas, Canada
4 75® 5 20
thi^marset has been
follows
as
Corn,
bush.
In store a* Ne w * ork
8,810,562
In store at Buffalo
1,398.081
In store at Chicago
2,143,554
In store at Milwaukee
1,006,000
Afloat on lakes for Buffalo and
Oswego 801,540
Afloat on N. Y. canals fcr tide water
Rail shipments from Chicago and Mil* 135,000
wankee & Toledo for week
11V54
Barley
The movement in breadstuff’s at
“IN BIGHT
Wheat.
Malt
Corn Meal
64.007,656
GRAIN
Oats
®
fine and super
485,983
Total grain, bush
Rye
6 25® 8 75
*5,964,536
18,677.545 '
805,895
925,671
8,456,819
289,854
,... „
Bye, bush
Double Extra Western
Corn,Western Mix’d,....
and St. Louis
6 75® 8 60
Yellow
White
Southern supers
6 40® 5 80
Southern,
*0,877,718
-
Barley, bnsh
«...
:
838,909
284,942
518.212
6,261
Flour, bb’a
Com meal. bbls.....
.
Wheat, busl
Com, bush.
NEW
YORK.
-1S68.For the
Since
week.
Jan. 1.
'80.675
2,742,355
5,985
245, F 65
.149,425
8,0C0
454,820
11,308,210
16,775
.
FROM NEW
YORK
FOR THE
22,685
205,315
410,630
WEEK
Flour, C. meal, Wheat, Rye,
To
bbls.
bbls.
Gt. Brit. week....
16,601
639,502
N. A. Col# week..
8,990
bnsb.
Earley.
59,422
17,000 1,887,802
29,181
Philadelphia,
136,343
31,668
818,652
375
81
90
789,8^4
26,723
8*7,136
10
632,478
following tables, prepared for the Chronicle by Mr. E. H.
Walker, of the New York Produce Exchange, show the grain in sight
and the movement of breadatuffs to the latest mail dates
STORE IN
NEW
YORK
AND
BROOKLYN
Wheat, bush
..3,810,562*
Com, bush
883,909
Oats, bush
1,386,594
28\906
—
Barley, bush
Bye, bush
Peas, hush
50,043
11,664
77,097
Malt, bush
•
Total grain, bush
..6,455,675
There is
a
1,804,216
1,658.094
2,852,184
346,975
294,937
78,194
82,101
8,199,563
892,805
202,900
18,432
83,445
9,109,563
7,354,465
considerable amount of grain afloat in cinal boats.
RECEIPTS
AT
LAKE PORTS
Flour#.
bbls.
(196 lbs.)
At
Chicago
Milwaukee
Toledo
Detroit
Cleveland
..
27,895
....
Totals
tl
It
U
ENDING
Corn.
bush.
bnsh.
(60 lbs.)
362,256
549,413
41,940
71,092
27,400
4.
DEO.
Oats.
bush.
Barley.
bush.
Rye.
hash.
(56 lbs.) (32 lbs.) (48 lbs ) (66 lbs.)
94,020 144,815
69,s91
12,142
9,726
12,372
20,695
2,336
17,980
390
14,950
1,750
3,055
8,179
1,911
8,300
6,870
88,285
1,200
°
185,686 132,432
16,068
944.248
177,682
102.432
68.
133.081
605,627
364,230
225,272
640,620
416,724
844,1-63
102,066
130,226
208,647 104,711
170,786
19.826
*67.
87,255
*66.
60,721
’65.
67,727
9ame
148,493
74,978
33,502
29,048
120,303
22,166
9,632
6,562
106,189
21,086
porta, from January 1 to Dec. 4
Flour
.bbls.
Wheat
bush.
4,823,732
48,979,236
1868
3867.
3,971,U35
30,628,940
80,207,765
18,845,052
2,589,921
1,661,910
28,871,‘213
80,722,185
14,111,815
2,861,690
1,069,861
27,447,559
82,268,921
August 1st to and including Dec. 4th, for four
1869.
3,890,708
78,236,264
83,833,688
Flour
1866.
3,579,043
-
1808.
87,819,204
12,488,615
2,203,984
2,814,519
years :
1867.
1866.
2,247,419
2,050,500
22446,966
23,554,749
13,298,748
10,498,416
16,821,870
14,579,876
2,170,091
Corn
0it»
2,158,928
12 473 814
Wheat
1,823,868
1,105,886
11,058,689
Bit
1 441 147
Total grain, bushels.... 47,884,258
Eastward Movement
1 105.885
49,296,707
48,781,105
1 152 352
37,865,832
Chicago, Milwaukee, Toledo and CleveIsnd, ineluding rail shipments from the former three places for week
ending Dec. 4,1869:
Wheat,
Weekending
Dec. 4th...,82,483
110,654
990,450
191,230
Previous week
Uor. week, 1868....
bbls.
100,710
40,000
bush.
Corn,
Oats,
bush.
5*,422
1(1,432
106,041
busn.
149,380
105,104
63,890
Barley,
Rye,
bush.
bush.
29>1W1
18,1*7
2,085
41,896
£,781
35,767
Comparative Shipments from same ports, including rail,
(excepting
Cleveland) from the opening of navigation to and including Dec. 4, for
four years:
flour, bbls
^«at,bush
and
one
which will
1868.
2,593409
83,947,838
21,836,018
1867.
2,208,785
v....
1,187,380
1,850 856
1,473,179
1,459,250
of very
has
Ocean
appreciable obstacle to an active trade was found in the
difficulty of carting and delivering goods at the various places
of shipment from the obstruction of the streets
by the snow
last report the
reports from the Heads
of the
1866.
our
Departments at Washington, has been communicated
the public. The temperate tone of this
document, and
he deliberate and cautious
policy which it indicates as the
tcourse to be pursued by the administration with
regard to
commercial and financial affairs, has reassured those
who
feared violent measures, and has added confidence
very gen>
to
erally to mercantile affairs.
Imports of the week have been quite limited in every
department. JThere have been no imports of Tea from China,
only one cargo of Rio Coffee and but insignificant quantities
of the other articles embraced in our
report.
Molasses is coming in more
freely.
The imports at New York for the
New Orleans
week, and at the several
ports since January 1, are given below under their
respective
heads. The totals are as follows:
Total at all ports
At N. York.
.-From Jan 1 to date--.
this Week.
1869.
1868.
Tea
Tea (indirect import).
Coffee, Rio
Coffee,other...
•
•
•
•
1,587
5,584
.
833
...
^..hhds.
Sugar
S
2,994
1,852
•
•
8,802
41,079,514
86,819
1,144,157
806,423
83,846,281
548,750
796,122
43,873
1,069,200
872,296
473,714
557,042
400,808
855,164
402,900
582,706
TEA.
The inquiry this week has been
chipfly for green teas. Prices
for old teas are also firm, and
buyers pay little attention to the
offerings of this kind of stock unless attracted by concession* in
price. New green teas meet with a good demand, and are selling
quite freely to arrive. Among the sales are 2,276 half chests of
green teas, 750 do. of Oolongs, mostly at public sale, and 1,200
pkgs of new green to arrive by steamer.
The ODly imports have been 1,587
packages by European steamer*.
Advices from China are no later than those
given last week.
COFFEE.
4 205 899
from
Flour,
8C0,341
1,044,561
little activity in most of
review, a not unexpected state of affairs,
probably prevail until after the New Year
years :
1S69.
„
the markets under
one
83,790
Comparative Receipts at the
inclusive, for four
THE WEEK
123,430
....
Correepond’g week,
FOR
Wheat#
110,696 1,052,101
....
Previous week
And from
1867.
Dec. 6.
3,409,783
2,050,439
6,951,299
Including 125.00J bushels California.
29,901
Friday Evening, December
10. 1869.
The week has been
Gold has been firm and
higher. Since
President’s message, with the usual
.
1868.
Dec. 5.
3,566,609
893,018
1,106,681
262,563
39,671
11,862
70,905
120,000
and ice.
:
WAREHOUSES.
1869
Dec. 4.
Nov. 27.
81,196
858,388
4,900
GROCERIES.
2,572
152,898
The
IN
282,906
fairly opened.
navigation has ceased entirely, and that of the North
59,772
422
4 972
River above the Highlands
nearly so; with this comes the
49,590 1,6671560
82,404 5,772,682 winter tariff of high freights on the railroads, and the usual
dropping off of inland orders which results for several days.
61,948
11,474
7,367
81,681 Subsequent to the storm of last Monday, a minor but
quite
3.847
4L584
Baltimore.
44
Com
bush
149,380
41
I.
275
217,073
......
Oats.
bnsh.
bush.
17,028,727
Cfestlnd# week..
1.934
8,899
Since Jan. 1
822,388 62,922
261
Total exp’t, week 43,893
2,434
851,860
Since Jan. 1,1869.1898,692 130,85817,8U5,553 151,476
Same time, 1868.. 952,419 183,749 5,512,872 152,993
Since Jan# 1 from—
Boston
176.738 80,563
7
50
ff
8INOE JAN.
289,353
60
Sinee Jan. 1
Since Jan. 1
bush.
25
AND
98,090
“
183,185
24.187,520
10,569,580
837,6(6
8,206,355
8,694,190
59,905
12,813
41
8,247,045
1,615
803,090
bush.
Total in s<ore and in transit Dec. 4.
.8,804,891 1,686,746 2,377,005
“
Nov. 27..8,064,152 1,760,698
“
“
1.997,877
Nov. 20. .8.282,653
“
1,993,481 1.894,856
Nov. 13..7,439 513 2,246,250
“
Nov. 6..7,582,772 2,630,212 1,898,644
44
1,886,479
Oct. 80. .7,787,842 8,487,372
2,280,600
Since
Jan.1.
week.
116.370
13,393,980
18,819,670
774,730
2,870,540
.198.8 0
FOREIGN EXPORTS
-1869.
For the
Barley.
1,386,594
169,9‘. 6
560402
26 000
.
RECEIPTS AT
Oats,
bnsh
bush.
The market for prime Rio has been
steady and ordinarily active,
while in the fair qualities there has been more movement than
for
some time
past; the prices realised for the latter have
been, we
understand, hardly up to our quotations. The sales are 12,262
bags of Rio; 1,573 do. of lAguayra; 283 do. of Maracaibo, and'
100 do. of Jamaica.
The imports for the week include
one cargo of Rio per u Inchdairnie”
bags, and 200 bags per Holeatia from Bremen. Of other
sorts 808 bags of Jamaica, 25 from
Carthagena, and 500 from Europe,
include all the receipts.
The stock of Rio Dec. 9, and
imports since Jan. 1, are as follows:
of 5,404
New
In Bags.
York.
Stock
85,010
Same date 1868. 154,148
Phila-
Balti-
delphia.
more.
Imports
...
1,700
17,800
80,0(0
809,986
287,544
689,870
8,200
in 1868. 710,299
13,786
Of other sorts the stock at New
“
several
porta since Jan, 1
were as
New Savan. & GalOrleans. Mobile, veston. Total.
6,100
3,140
111,250
2,000
4,000
194,843
103,795
2,800 1,144,157
80,006
75,259
16,562
5,800 1,069,S0o
....
....
York, Dec. 9 and the imports at the
follows:
TUB CHRONICLE.
M'X
770
JL1
[December 11,.^.
jJL
&
-^Ke^of^ «(»td!rPIi!Iaael. Batt. N.Orle’a
In bags.
Java
Stock, Imparl. import,
Singapore
Cbylon
*25,192
Lagoajra
St. Domingo
Other
10,59*
40,478
r-Duty paid— |
do
do Ex f. to fln’at
Hyson, Common to fair... 75 © 85
do
Uncol. Japan, Coni.to fair..
Superior to fine.... 90 ©1 00
1,109
948
21,260
52,329
do
18,762
64,859
*1,007
8,763
1,163
282,769
80.1,061
49.417
4,843
Total
Same *68.
Dum *5 cents per lb.
import, import, import.
18,566
4,151
1, 68
1,044
Maracaibo
*
*®fi2
►45,762
*4,884
i960
33
R254
1,246
21,125
*2,778
47,849
1,008
1,675
1,879
1,246
*07
806,428
372,296
Also 14,245 mats.
Includes mat?, &c., reduced to bags.
t
SUGAR.
raw
supply their immediate requirements. Importers have however,
made no effort to push sales, and prices have gradually acquired
more firmness, and close
better than a week ago for refining
grades. Refined Sugars have been steady, but have sold slowly
and at unimproved rates.
The sales comprise 2,444 hhds of
Ouba of all kinds ;
840 Porto Rico ; 219 do Demcreras;
5,359 boxes of Havana, and 2,900 bags of Brazil Sugar.
Imports for the week at New York, and stock on hand December 9
to
,
follows:
were as
Y’gHyson, Com. to fair. „.
do
do
do
70 © 75
do « Ex f. to finest! fig,
Oolong, Common to fair... fifrj
do
Superior to fins... 75:
^
Super, to fine. . 80 © 95
Exflnetoflnest.1 20 ©1 40
Ganp. A Imp., Com.to fair 80 ©1 00
do
Sup. to fine 1 00 ©1 20
do do Ex. r. to finest. 1 ?5 ©1 70
H. Sk. &Tw’kay,C, to fair. 63 © 65
do
do Sop. to fine 68 © 75
do
Souc &
do
do
bxs.
Imports this week
Cuba, P. Rico, Other, Brazil, M’nila,&c
♦hhds. ♦hhds.
♦hhds.
bgs.
bgs.
619
2,994
Stock on hand
Same time 1868
“
“
1867
Duty: When
imported direct in American
783
59,242
38,517
16,311
1 hare been
98,471
38,170
28,023
“
“
.
“
“
Portland..
Boston....
Philadel..
Baltimore.
N. Orleans
“
“
“
Total
rtar
Boxes
1869.
1868.
204,581
34,466
8,858
35,971
&3,575
49,c86
82.076
as
—*Hhds —»
1869.
1868.
,
9,902
68,090
18,886
65,749
58,832
32,499
69,109
69,964
68,251
9,815
582,706 478,714 543,750
do fair to good grocery.. Ilf© Ilf
do pr. to choice
do
..
ll|© 12f
do eentrifugalhhds &bss 9|© 13f
Melado
6 © 84
molasses..
94© 10J
do
do
do
do
11,426
70,836 12,600 161,145
72,759 49,650
64,075 10,956
12,398
557,042 208,991 583,181
MOLASSES.
Foreign has been been very quiet, and stocks arc accumulating \
prices are nominally unchanged. In Domestic the market has
continued active at about the game scale of prices prevailing last
week. The sales include 110 hhds of Demeraras, and 2,330 bbls of
sold at auctionef the week at New York, and the stock on hand Decem¬
follows:
New Orleans, about one half of which were
Cuba.
♦Hhds.
637
Imports this week....
on
4:35
hand..
“
same
Demerara.
♦Hhds.
643
P. Rico.
♦Hhds.
Stock
do
do
time 1868.,,.11,269
Other.
N. O.
Bbls.
♦Rhds:
3,392
do
Boston
91,207
Philadelphia
Baltimore
New Orleans
.
.
.
12,061
,
170,737
55,977
55,757
77,887
33,801
18,199
402,900
Including tierces and barrels reduced to hhds.
SPICES.
There has been
steady trade, but without aDy movement of
importance, our quotations stand unchanged. Cassia is arriving
firmly, but no decline from our last prices has taken place;
a
FRUITS.
In foreign dried fruit the market is quiet with sales of
moderate amount, which go to supply the legitimate wants of the
trade: no speculative feeling having manifested itself in any
branch. The tendency of prices has been rather toward lower
rates, and the slight changes we make in our tabic of quotations
are] in this direction. The natural anticipation ol an animated
business at this season of the year is as yet unrealised, for domestic,
dried Southern apples of the better qualities have improved in
firmness and are quoted at au advance. Blackberries are steady.
Peaches peeled and unpeeled are quiet at former prices. In foreign
green fruit the arrivals
and the prices obtained,
have been liberal of Mediterranean fruit,
though showing some improvement oo the
previous sales of new fruit, are still, the importers
.do 16 to 18 13 © 18|
Nutmegs, casks
do
cases
1 00
....
1 10
Ponang. 1 05
At auction to
We
ruling quotations in first hands
Dorr: 8 seats 9 gallon.
:
Molasses.
gswOrlO»as<asw)...VgAn.70G82 I do Clayed
?°£toRloo
50 a 77 1 Barbados#
Cabslfatfsotado, refining,., 43 © 55 I
.
.
Ills
10f|
lolti
15 |
Hid
g
13|d
I3j<j
501 oassla and cloves, 20;
peppei and
Pepper, in bond...(gold)
Pepper, Singapore
104© 104
35 © 251
fi>.
do Sumatra
25 © ’
18 © 18«
Si©
4
..
Pimento, Jamaica.(gold)
.
do in bond...(gold)
Cloves
...(gold)
25}©
26
Duty: Raisins, Currants, Figs, Plums and Prunes,5; Shelled AlmondB,
Almonds,6; other nuts,*; Dates, 2; Pea Nuts, 1; Shelled do, 14; Filbertsanc
Walnuts, 3 oents 9 lb; Sardines, 50; Preserved Ginger, 50; Green Fruits,
V cent ad val.
Wqr.box
17©..
Raisins,Seedlessnw$mat
©8 00 Sardines..
do Layer, hew. W box 4 10©4 15 Figs,'Smyrna, new... 9
15 © 18
do Valencia.old 9 lb
do New....... ..per lb
16 © .,
18©..
do
do
new
18 ©
Brazil Nuts
14J© 15
Currants, new.
V 9>
134© 14 Filberts,Sioily
© 14
Citron, Leghorn
© 344 Walnuts, Bordeaux, new.„ 18 ©14
164© 171
Prunes,Turkish
12 © .. Macaroni, Italian
...
© 12
Dates
Drikd Fruit—^
Apples, Southern..9 ®
27 © ..
20 © 23
Almonds,Languedoc
do
Piovenee
do
8ioily,SoftShell
do
Shelled, Spanish
Sardines...
$9hi.box
do
do
Blsokberries
.
..©16
39 © 40
..
© 81
.
sliced
..
Peaches, pared new
Peaches, nnpared
8
18
13
9»
16
18
8j
THE DRY GOODS TRADE.
Friday, P. M., December 10, 1868.
developed but a single new feature in the
market, and that is the advance of £e per yard in Standard
Brown Sheetings. This action may seem quite extraordinary
The week has
when there has been
40 © 40
45 © 60
no
increase of demand, while trade con¬
dull, and without any further decline in Cotton,
exactly the thing which we foreshadowed in our
Cotton report two weeks since, when we showed by a state¬
ment of the relative prices of raw Cotton and Sheetings, at
different periods, that the late reduction had carried the price
of goods below the cost of manufacture.
The reduction, in fact, anticipated a further decline in Cot¬
ton, which has not taken place, and as the stock of goods be¬
came smaller, this reaction naturally took place.
In other respects there has been little worthy of note. Some
few failures are reported, but they are not very bad, and seem
to have no particular effect upon the morale of the market.
The auction houses show evident signs of the closing out of
the season in foreign goods, in the character of the styles of¬
fered and the prices obtained.
The exports of dry goods for the past week, and since Jan¬
tinues very
but it
uary
I860
say, unremunera-
day Palermo oranges brought $6 50 per case ;
do.* $2 10@$2 35 per case; Palermo do, $2 15@$2 20
annex
grocery grades
Fruit,
was
1, 1869, and the total for the same time in 1868
are shown in the following table:
——FROM HEW TORK.
Domestics,
pkgs.
Exports to
Cuba...
British West Indies.
Mexico
Brazil
per box; Messina lemons, §4 I5@$4 20 per box; and Palermo do.,
$3 85@$4 10 per box. Both Louisiana and Florida organges
are in market ana of fine quality, and with the supply
of Ha/anna
fruit depress the prices for the European. Havanna oranges are Cisp atiue Republic
Liverpool
selling at $9 per brl., an advance of $1, and Florida do., London
at $5@$6.
Baracoa fruit disappears from the market, and Glasgow Colonies
B:. N. A.
induces au advance in the remaining descriptions of West India. New Granada
Domestic green, fruit is steady, but in very moderate demand.
Argentine Republic
^
e M4 « • •
Hards...
White sugars, A
do
do
B
do
do
extra C
Yellow sugars
imento, 15: and ginger root, 5 cents 9
pi
Cassia Batavia, gold,
41©
43
43 ©
Cassia, inmats., gold
44
114
Ginger, raoe and Af(gold) Hi©
125
Maoe
(gold) ...
....
New York.......
Portland
Messina
th*
vea
400
8,587
1,433
1,064
-♦Hhds1868.
1869.
tive.
the
Spices,
Imports at the several ports .since January 1 have be£n as follows :
♦
e-s e
Brazil, bags
Manila, bags
do 10 to 12 li
114© 114
do 18 to 10 Ilf© 124
1869.
1869.
Including tierces and barrels reduced to hhds.
The receipts
ber 9, were as
equalized vessels from
..
m
♦
or
•
gs,
*
••
Bx f. to flnesti 05
or
Imp’s since Jan 1, at New York 372,840 281,187 322,728 325,548 185,786 424.986
“
“
“
Imports at the several ports since Jan.
“
Snp’rtoffne.;,9Q
eels, 5 cents per lb.; all other, 10 per cent ad valornmIn addition.
do,Prime,uutypaid ...gold lit© 13 Native Oeylon
gold 171
o good
Maracaibo
gold 10£© 11
..gold 161
do fair
....gold 94© 10
Laguayra......
.. gold 16|
do ordinary
St Domingo, in bond ~ gold ..
~*gold 84© 9
Java, mats an I bags ... gold 33 © 231 Jamaica
....gold 15:
Sugar.
'
Duty: On raw or brown sugar, not above No. 12 Dutch standard, 8; on
white or clayed, above No. 12 and not above No. 15 Dutch standard, not refined.
8#; above 15 and not over 20,4; oh refined, */, nuu on Melado 2# cenUperlb
5; and uu luciauu
Cuba. inf. to oom refining.. 104© 104
dn
An
An 10 in 2d <40* A,
do
do
do 19 to
Cuba, inf. to oom raflninxr..
10|
do fair to good
do
dc
white
do ... 101© 111
tail
do ntfme
Porto Rico, refining grades. lOtf
ll|©
Hav’a, Box, D.S. Nos. 7 to 9. 104© HR
“
Cong., Com. tofaii-ifiQ
Slace of Good Hopeor production; ilso, the growth of countries eqnalized
this side
ape of its growth when imported indirectly in American
15,981
follows:
Brazil, Manila
bags, bags
“
Ex fine to finest.. 1 Q0
....
Cuba,
“
i
Snp*rtofine^ L,
vUUt?c«
Sugars there has been a very light demaud, and the
sales have been principally to refiners, and of only sufficient amounts
For
Ex fine to finest.. .1 C5 ©1 25
•
fiS
9
1,658
5,241
“
Val.
$...
40
a
PW*
....
360
9,865
383
1,656
13,691
9,490
....
$33,756
2,164,415
1,468,406
827
5.331
4,773
$83J!45
1,057,174
1,498,406
I860.....84,019
We annex
ROSWW.
Domesfics.
18,781
10
....
VROM
657
96
Total for week.... 188
Since Jan. 1,1869. ..20,063
Same time 1868.... .23,432
“
Val.
$11,444
-*
Dry Goods.
packages.
find
few
particulars of leading articles of
8,418
7,698
88,648
domestic
December 11,
THE
1869.]
CHRONICLE.
771
X'*-?'**'*-*:
quoted beiDg those of the leading
eanuficture, our
jobbfcri-
1
Eaowk
•
.
...
Sheetings and Shirtings continue in
limited demand, not¬
withstanding the advance of $R cent for nearly all standards.. Stocks
of these are email, and agents; in consequence hold the goods firmly.
The ateadines8 in the market for the raw material has exerted a decided
icflu^nce on agents, and they are little disposed to prees transactions
Iveirat the advanced rates. * Low grades are even slightly improved in
tones'and concessions are not so easily obtainable. Agawam F 36 12$,
Ameskeag A~ 8616$, Atlantic H36 15,do P 86 12$, do L 36 14, Appleton
A* 86 —wAlBrflsffa S6 14$, do 80 13, Broadway 86 12$, Bedford R
3094. Bdo&lur il, do O 8412, do S 40 14$, do W 45 19, Common^alih 6 27 8, Grafton A 27 8$, Graniteville AA 86 15$, do EE 86
l^Or^aiFkltsH 86 12$,do S 88 11$, Indian Head 36 15*, do 30 13, In¬
dian Orchard A 40 15, do036 13$, do BB 36 12, do W 3411$, doNN36
14$, I#Coa*a &
«-,do B 87 14, do £ 8612$, Lawrence A 8612$, do C
86 HhddF?6
G 8412$, do H 27 11, do LL86 12$, Lyman 0 86 14,
do IS 86 ^Massachusetts BB 86 18, do J 80 12, Medford 8614$, Nashua
fine8814,do8615$, do E 40 18, Newmarket A 12$, Pacific extra 86 16$,
doH 86 15, d6 t* 86 18$, Pepperell 7-4
do 8-4 35, do 9-4 40, do
104 46* do 114-:«*s Fepperell E fine 89 14$, do R 36 14, do O 83
18, do N 8012$, do G 30 18, Pocasset F 80 9$, do K 86 13$, do Canoe
40 16$, Saranac fine 0 88 14, do R 36 16$, do E 89 17$, Sigourney 36
10$, Stark Jk 8615, Swift River 86 12, Tiger 27 8$, Tremont M S3 11.
BleaCKed Sheetings and Shirtings are dull, and show little
improvement from the previous week. Abetter tone prevails among
manufacturers and agents, but upon the whole the trade with the job*
bing houses is very quiet* and a buyer seeking a pretty fair amouut of
goods would meet with liberal concessions. Fine standard brands are
offered atVcfry low prices at present; and the diminished production
should,thought, produce animprovement in rates. It is impossible
for the miljfl.to ran on full time, and at their maximum production, at
current prices Tor The raw material. Hence agents are sanguine of a
speedy improvement, although we must confess we are rather in¬
credulous with jegardJtQ it.
Amoskeag 46 19, do 42 17$, do 54 24,
American A 36 12$, Androscoggin L 86 16$, Auburn 86 —, Attawaugan XX 86.12$, doiX, 86 10, Atlantic Cambric 86 24, Ballou A
Son 86 14$, do 31 11$, Bartletts 86 15$,do 83 14, do3113$, BatesXX
8617$, doB 33 14, Blackstone 36 15, do D 37 13$, Boott B 86 15, doC
8818*, do E 86 12frdtfH 28 11$, do O 80 12$, do R 2S 10, do
W 45 19, Clarks 86 f 20,: j Dwight 40 21, Ellerton 10-4 50, Forestdale 86 16, Fruit of the Loom 86 17, Globe 27 8, Gold Medal 36 14$,
Green* M’fgCo86 12, do 81 10$, Great Falls Q 86 16$, do J 83—,do S
81 12, do A 32 14, HilPfl 8emp. Idem 86 16, do 33 14$, Hope 86 14$.
James 8614$, do 38 18$, do 31 —, Lawrence B 86 15, Lonsdale 36 16$
Masonville36 17,Newmarket 0 88 14, New York Mills 86 22$, Pepper¬
ell 64 80, do 8-4 40, do 94 45, do 10-4 50, Rosebuds 86 15$, Red
Bank 86 11$, do 88 10$, Slater J. A W. 86 —,Tuscarora86 18, Utica 64
82$, do 64 37$, do 94 62$, do 10-4 67$, Waltham X 88 —, do 42 18,
do 6-4 82$4do 8*4 40, do 94 45, do 10-4 50, Wamsutta 45 28, do 40$
25, do 86 20, Washington 83 9$.
Brown Drills are quiet, with nominal quotations unchanged.
Few
of these goods are moving at present, and none at all for export.
Amoskeag 17, Graniteville D 16, Hamilton 17, Laconia 17, Pepperell
17, Stark A 17, do H 14.
Prints are exceedingly dull and flat; the effect of the reduction last
week was to check what little trade had been doing. The market is
very unsettled, some dealers asking the former price, while others offer
the goods at the reduced quotations. Such a state of affairs conduces
to anything but a healthy trade, and buyers are not much to blame for
virtually neglecting rihe goods altogether. Printers are fairly busy
on existing
orders and samples for early spring work, but we
are
unaware
of auy mill beiDg run at maximum production.
12$c. was decidedly cheap, and a popular price among buyers.
Allens 11$, American 12, Amoskeag —, Arnolds 10$, Conestoga 11$,
Donnell’s 12, Freeman 10$, Gloucester 11$, Hamilton 12$, Home
—, Lancaster 11$, London
mourning 11, Mallory 12, Manchester
12,Merrimac D12$,do pink and purple 16, do W 18$, Oriental 11$
Pacific 12$, Richmond’s 11$, Simpson Mourning 11$, Sprague’s purple
and pink 18$, do blue 18$, do shirtings 18$, Wamsutta 8fi.
Pkint Cloths are still doll and inactive, although manufacturers
appear quite busy; the solution of this is probably to be found in the
anticipated early demand from printers for spring work. A noticeable
feature in this connection is the entire absence of any speculative trans¬
actions at the present time, they generally having been quite numerous
at this
period of the year in past seasons. We learn of another exten¬
sive mill for the production of these goods in process of construction in
one of. the New
England States, Rates are quiet, although not very
strong, ranging from 5$c. to 7$c., according to quality.
Ginghams are quiet.
The demand has decreased considerably
within the past week or two, bat the small stocks on hand and the
Other Cotton Goods continue to be dull and tolerably steady en
small orders. The prices below give about all the information in regard
to them that is of value.
V
Checks.—Caledonia 70 27$, do 50 20, do 12 26$, do 10 24, do 8 19*
do 11 22$, do 15 27$, Cumberland 14$, Joa Greers, 55 16$, do 65 J8$*
Kenoebeck 25, Lanark, No. 2,12$-18, Medford 18, Meoh’s No. A l 29,
do 85 18, Miners 10 24, do 50 26, do 8 19, Park No. 60 19, do 70 21,
do 80 24, do 90 27$, do 100 80, Pequa No; 1,209 18$, do 1,600 20, do
2,000 25, do 2,800 27$, Star Mills 12 18, do 18 20, do 20 22, Union No.
20, 25, do 60 27$, do 18 22$, Watts No 80 16.
Tickings, since the late decline, are inactive, denims and stripes,
having followed ticks in falling off, are in a few instances offerea at
marked reductions.
Albany 10$, American 14$, Amoskeag A C A 84,
do A 27, do B 22, do C 26, do D 18, Blackstone River 17, Conestoga
extra 32 25, do do 36 30, Cordis AAA 29, do BB 17$, Hamilton 25,
Lewiston A 26 84 do A 82 80, do A 80 26$, do B 80 24$, Mecs. A
W’km's 29, Pearl River 81, Pemberton AA 25, do E 17$, Swift River
15, Thorndike A 16, Whittendon A 22$, Willow Brook No. 1 28, York
80
26, do 82 82$.
Stripes.—Albany 10$, Algoden 16$, American 14-15, Amoskeag
21-22, Boston 12$, Hamilton 22, Haymaker 14$-15, Sheridan A 14$,
do G 15$, Uncasville A 16$, do B 16, Whittenton AA 20, do BB 17,
do C 15, York 25.
Denims.—Amoskeag 28, Bedford 1?$, Beaver Cr. CO —, Columbian
heavy 27 Haymaker Bro. 17, Manchester 20, Otis AX A 25, do BB 28,
do CC 20, York 30.
Corset Jeans.—Amoskeag 14, Androecoggin 18, Bates 12$, Everetts
15, Indian Orchard Imp. 13, Laconia 15, Naumkeag 15$, Newmarket
12$, Washington satteen 17.
Cambrics —Amoskeag 9, Portland 7$, Pequot 10, Victory H 8, do
A 9, Washington 9.
Cotton Bags.—American 137 60, Androscoggin 640 00, Arkwright
A 640 00 Great Falls* A 642 00, Lewiston 641 00, Stark A 642 50, do
C 3 bush 627 60, Union 627 50.
Cotton Yarns and Batts.—Best Georgia Cotton Yarns No. 6 to 12
89, best South Carolina small skeins 89.
Woolen Goods in heavy weights are pretty well closed out, the
preparations for the spring campaign having forced off such surplus of
these goods as were on hand, in many instances at ruinous rates.
The
business in this line is very dull, however, as it is too early for the
the spring demand and too late for any further movement in heavy
goods. Prices are unsettled on account of the diversity of askings for
similar grades of goods, caused by certain houses closing business and
running off stock at any price obtainable.
4
Cloths, except in staple blacks, are dull, and even these are in
limited request, large lots being moved only on liberal concessions.
Oassimebes are still very dull, some few job lots only moving at
much reduced rates.
Shawls continue to decline in
inquiry, and stocks are now moved
concessions in the shape of drives; agents are pressing salss
with considerable vigor, and let few opportunities pass, even at heavy
concessions. The season’s trade is fairly over, and, upon the whole,
has been far more satisfactory to producers than any other line on the
only
on
market.
Imported Dress Goods.—The extremely limited amount of goods
moviog, excepting in the auction rooms, precludes any extensive report
Some few staple specialties are in request to fill orders, but our im¬
porters are resting on their orders, only disposing of such goods as are
m broken cases.
By far the larger part of the goods coming into Hie
country are immediately warehoused.
The frauds at the Custom
House are still under investigation.
There
are
unmistakable indications in the
_
_
_
14$; Hadley, 14; Hampden, 16; Hartford, 18 ; Lancaster, 17; Lanca¬
shire, 16; Pequa, 12$; Park Mills, 14; Quaker City, 14; Roanoke, 12$;
union, 18.
Muslin Delaines continue in fair
request, although one would be led
that these goods, were the last a buyer would take at this
period of the year. - Jn view of this fair distribution prices are pretty
well maintained, and agents are sanguine of their ability to continue at
PWftt fates, v Hamilton, 20 Tycoon Reps, 27$; Lowell, 20 ; Man^ests^.fiO ? do aU wool, 42$; Pacific, 20; do Armures, 20; do plain,
•21; do Robe de C, 22$; - do plain Oriental, 20 ; do Anilines, 22$; do
Serges,^2$; do Alpaoas, 22$; do do 6-4,26; Percales 4 4, 81; Pekin
to suppose
Canton Flannels
in fair
of the
small way.
IMPORTATIONS OF DRY 000DS AT THE PORT OF NEW
YORI.^
importations of dry goods at tins port for the week ending Dec.
10,1869, and the corresponding weeks of 1867 and 1868, have been ns
The
follows:
10,1869.
ENTERED FOR CONSUMPTION FOR THE WEEK ENDING DECEMBER
Pkgs.
100
138
Value.
Pkgs.
335
355
.
.
184
flax.
>.
247
$27,188
89,817
109,451
51,485
85,698
258
626
237
$818,199
.
-1869.-
-1868.-
-1867.-
1,811
Value
Pkgs.
Value.
$119,963
98,659
194,787
358
607
836
$117*473
135,7»
187,852
141,388
74,827
8,963
185,117
646
133,534
$629,574
5,800
6688,360
WITHDRAWN FROM WAREHOUSE AND THROWN INTO
THE SAME PERIOD.
THE MARKET
DURING
658,892
16,104
39,587
685,901
79,630
58,595
8,809
245
74
34
323
686,203
24,807
36,795
79,451
175
64
26
552
goodsl,035
17,996
2,053
28,289
Total
Add ent’d for consu’pt’n 867
.....1,71?
$245,251
2,870
1,811
6217,449
2,299
818,199
629,674
5,909
$215,395
688,260
Total th’wn upon maket2,578
6558,450
4,681
8408
$908,655
Manufactures of wool...
do
cotton..
do
silk
do
flax
Miscellaneous dry
Manufactures of wool...
do
do
do
814
642
silk.....
71
676
flax
cotton..
$110,888
165,251
81,860
174,861“
212
106
20
236
9,650
48,040
PERIOD.
ENTERED FOR WAREHOUSING DURING THE
inquiry, and in consequence of the shor Miscellaneous dry goods. 179
72,721
stocks on hand rates are
pretty burly maintained. Brown—Amoskeag
Total
L882 6605,081
44 82, do A 24, Ellerton N 27, do O 24, do P 21$, Great Falls F 28,
813,199
laconia 18$. Bleaehed—Amoskeag A 20, do B 25, Ellerton W H 42, Addentdforconsu’pt’n. 867
do N HO, Groat Falls F 25, Naumkeag F19.
Total entered at the port3,749 $918,380
are
rooms
approach to the time of taking the annual account of stock. The
offerings arc still quite numerous and large, but all efforts to ac¬
commodate buyers succeed in disposing of only a part of the cata¬
logues, and that at prices below what goods would cost in Paris.
Buyers are bold and sometimes impudent iu their offers and per¬
sistency in their efforts to obtain goods at ruinous rates. The ap¬
proach to the end of the year causes les9 attendance, and unless
goods can be had at a sacrifice they are not wanted, except in a
to harden'rates
Bates, 17 ; Gale16; Gloucester,
auction
$81,464
672,892
84,837
15,101
145,228
19,498
68,563
46
19,298
620
$205,191
1,811
629,574
3,431
$834,765
2,623
5,809
7,883 $1,041,730
Dry Goods.
,WICET>FTHX
Pacific Mutual Insurance
JENKINS, VAILL & 7^
PEABODY,
COMPANY.'
92
HOWARD BUILDING, 176 BROADWAY.
40 LEONARD
New York, January 18th. 1869.
The following Statement of the affairs of the Com-
STREET,
©tls Company,
Belknap Mills, 'ISColumbian Mfg Company, Grafton Mills,
Warren Cotton Mills,
Sumner Falls Mills ii"
AT GOODS COMMISSION MEBCHART1.
Sola Agents lor the sate of
1868 inclusive
524,448 47
Total amount of Marine Premiums.
COTTONS AND
$613.497 90
THIS COMPANY HAS ISSUED NO POLICIES. EX*
CEPT ON CARGO AND FREIGHT FOlt THE
VOYAGE.
No Risks have bren taken upon Time
or npou Hulls ct
Vessels.
Premiums marked off as Earned, during: the
period as above
$539,034 44
Paid lor Losses and Expenses, less .• avings,
&c., during the same period
251,434 90
Return Premiums
46,862 74
C tsh in bank and on hand
$11,949 61
United States and other stocks... 5. 2,648 59
Loans on stacks drawirg interest 1;,8,700 to
Premium notes and bills receivable
fcul)8crjpi;io»i notes i.i advance of premiums
l.e-insuranca and other claims clue the
Company, estimated at
Total assets....
$813,294 31
251,572 95
fii^tandiag (
the 2d day of February
er
p*uyof th
ift at
Cheney
brown
Florentines,
Pongee Handkerchiefs,
Silk Warp Poplins,
Silk Dress Goods,
SON,
CHENEY Sc MILLVKEN,
Brown and Rieaehed Goods.
Thorndike H. B. & C. Brown and Bleached Sheetlnn
Hingham, Farmers’ AA and 8wlit River Brown Sheet*
ings, 40-ln. Rocky Mountain Dnck, Bear, Raven’s Duck
TheodorePolhemus&Co.
Manufacturers and Dealers in
4 Otis
Street, Boston.
CO.,
210 Chestnnt Street, Philadelphia
COT TONS AIL DUCK
And all kinds oi
COTTON CANVAS, FELTING DUCK,
CHASE, STEWART Sc CO.,
CAR COVER¬
ING, BAGGING, RAVENS DUCK, SAIL TWINES
10 and 12 German Street, Baltimore.
,
&C. “ONTARIO’
BEAMLk88
“
AWNING STRIPES.’’
order of the Board.
TRUSTEE.
John K. Myers,
A. C, Richards,
G. D. H Gillespie
C. E. Mllnor,
Martin Bates,
Moses A. Hoppoch
Ephraim L. Corning
A. 8.
Barnes,
Egbert 8tarr,
A. Wesson,
:
r
C. B. &
J. F. Mitchell,
COMMISSION MERCHANTS.
Sc
87
Emil
89 Leonard Street. New York.
MANUFACTURERS
-
SHOE THREADS
LINEN THREADS,
CARPET THREADS.
SEWING MACHINE THREAD*.
GILL NETT TWINES. FISH LINES,
Barbour
COTTONS
NO. 50
We
are
BROADWAY, NEW YORK.
prepared to make cosh advances upon Wool,
on
the spot or in transit.
CHRISTY DAV18.
NEEDLES,
Wool
Fishing Tackle.
OMPANY,
Shipman,
MANUFACTURES OF
DRILLED-EYED
Fish Hooks and
HOSIERY
Shipmak
WOOL BROKERS,
WORKS. PATERSON, NE W JERSEY
Co.,
WOOLENF.
E. J.
Mills &
Brothers,
Thos. H. Bate &
AND
Abm. Mills
90 Chambers Street, Corner Church Street, New York
LOWELL
AGENTS
For the Sale oi
TWINES, FLAX, ETC.
OTIS CO.,
Company*
always In stoek
13 Sc 15 Llspenard Street.
E. A. Bbinokbkhoft,
Thbodobb Polhbmus.
J. Spencer Tunnkb.
H. D. Polhkmus, Specia
Wm. Hegeman,
James R. Taylor,
Adam T. Bruce,
Albert B. Strange,
A. Augustus Low,
Miscellaneous.
BAGS,
A full supply all Widths and Colors
Wm. T. Blodgett
C. H. Ludington,
J. L. Smallwood,
Thomas Eakiu,
H. C. Southwlck,
Dean F. Fenner,
Beineman,
William Leconey,
Jehial Read,
John ▲. Bartow,
John R. Waller.
JOHN K. MYERS, President.
n
WILLIAM LECONEY. Vice-President.
THOMAS HALE, Secretary.
John A. Hadden
Also, Agents
United States Ranting
A lex. M. Earle,
Oliver K. Eing.
Bril,
Horace B. Claflin,
W. M. Richards,
CC^Mount Ver
BLEA. AND BBOWN.
102 Franklin Street, New York.
.
G
non, Columbus, Eagle,
Warren FF Fine Sheetings.
PURPOSES TO ORDER.
LEONARD BAKER Sc
Ticks.
Cordis ACE, AAA, BB, Duck AA.B.. Thorndiks A
Bwift River, Palmer, New England.
Cordis Awning, Thorndike. B.C., Otis
AGENTS:
EDWARD VI. ARNOLD A
Denims.
Columbian XXX, Otis BB, Warren AJB.DX.
Stripes.
Belt Ribbons.
SILKS FOR SPECIAL
Hosiery.
Pepper and Gllmanton Mills’ Sullowavi
Shaker 8ocks, &c., &c.
Wayi
Bine Denims,
Columbian Heavy, Otis AXA. BB, CC. D, 0. E G
Union, Arlington, Oxford.Mt. Vernon, Beaver Ores
AA, BB, CC Ahorndlke, 6..Haymaker,
ton, Northfleld, Pawnee, Fanners* andPaltner.BM
Mechanics
Organzlnee.
Poniards and
om-
•living December 31st, 1S W, for which Certificates will
’eiMic! on and after Tuesday, the sixth
day of April
‘
Brothers.
INE OBGANZINE8 FOR SILX MIXTURE CASSI*
MERES.
next.
will be rc leeined and pai l in cash, to the holders
oiereoj, or their legal representative?, on an l after
fue day. the 2d day of February next, from which
'late interest th irro.i will ce tse
Certificates to
be produced at ti;e time of payment and cancelled
A Hi rid. ml in Script of FORTY Per Cent is
declare 1
on the net amount of Earned Prerni
ms tor the year
Otis Co.,
Sewing Silk,
,6,ut0 01
hoteoi ih<>4,
R.'Jfrnap a Grafton
Shirtings, Flannels, Rob Roys, Cassimeres.Repellsati
Cottonades, Domestics, Boys* Checks, Sullowav*
Shaker Flannels.
3 '
Machine Twist,
21,477 f7
or t ie '
s
Roubalx Cloth. WmChines, Alpacas, Reps Coburgs, ACmAc Per
MANUFACTURED BY
$1,16s,324 33
and after Tuesday
The whole of the
Fancy Dress Good4,3-4 antf64
ial
AMERICAN SILKS.
ItayiB and
Six Prr I'eul, Iiitere t
on the rvu:eUndinr Certificates of I’.ofits will be
paid
t.» t.ne hold i s thereof, or their lcral r pres ut
.tives,
on
WOOLENS*
Of Several
TheCompany has the following asset-:
B. W.
^?4«FrankJi.n
140 DevonshireStreet, New York
Street. Boston. '
AGENTS FOR THE
„
aryl, 186?
Premiums received from Jan. I, to f‘ec. 31,
next.
i«y
Eben Wright & Co..
HO. 7 WARREN STREET, NEAR BROADWAY.
NEW YORK.
No
Broker,
58 BROADWAY NEW YORK,
Cor
of Exchange Place.
Miscellaneou s.
Cotton
Steamship Companies.
Removal.
PACIFIC Mail STEAMSHIP COMPANY'S
Hosiery,
THEODORE
FOLHEMtJS Sc
Cotton
For
Spring, 18 70.
Nos. 13 A 15
To California & China,
Duck,
Have removed from 69 Broad
Touching at Mexican Port*
Street, to
LISPENARD STREET.
John Dwight & Co.,
MANUFACTURERS OF
SALERATUS.
SUPER CARR. SODA,
Ns. U Old 811p, New York,
J. S. &E. Wright & Co., Gunny,
Borneo
Domestic
BALE
SELLING AGENTS.
THROUGH LINE
CO.,
ROPE
and
TIES,
J. B. Carter & Co.,
144 Water Street.
CARRYING THE UNITED STATES MAILS.
On the 5th and 21st of Each Montb*
Leave PIER 42 NORTH RIVER, foot of Canal street
at 12 o’clock noon, as above (except when those dates
fall
AC.,
Bagging,
A IRON
FOR SALE BY
AND
on
Sunday, and then
on
the preceding Saturday)
Also. connecting at Panama with steamers
•
SOUTH PACIFIC AND CENTRAL AMERICAN
'
PORTS.
lt
One hundred pounds baggage allowed each adun.
Baggage-masters accompany baggage through, ana
attend to ladles and children without male
Pf°Jrf®T
tors. Baggage received on the dock the day beiore
_
sailing, from steamboats, railroads, and passengers
who prefer to send them down early. An experiencea
surgeon on board. Medicine and attendance free.
For passage tickets or iurther Information apply *°
the Company’s ticket office, on the wharf, foot «
Canal street, North River, New York.
F. R.
BABY, Agent
December
11,1869]
THE
Financial.
vfB. WALTER H. FU «N§ KETIUF!S
andvn-omoarNewark.**Londou«m.
Street, Boston.
Lohdon, October 1st, 1869.
Credits issued
The City
Bank,
West Fourth Street,
[-LONDON.
Dealers in
1
>
BARIS.
GOLD, SILVER
GOVERNMENT BONDS.
Circular Notes available for Travelers in all parts of
Europe and the East.
COLLECTIONS MADE at all accessible
points and remitted lor
Everett &
Co.,
38 State
Co.,
CHECKS
At GU8TINE
Stocks^ Gold, Commercial Paper, and all Negotiable
interest allowed on Deposits subject to Sight Dralt
Check.
Advances made on approved securities.
or
P. Hayden.
HEARD
on
St
day of payment.
LONDON
AND
PARIS
Jos. Hutcheson.
W. B. Hayden
CO,,
consignments of approved
ch&ndize.
mer
Hayden, Hutcheson &Co
BANKERS,
NO.
Special facilities for negotiating Commercial Paper.
Colleot? Vis both lnlindand foreign promptly made.
Foreign and Dome3 tic Loans Negotiated.
on
FOR SALS'
OF CHINA AND JAPAN.
Advances made
ON
Street, Boston,
AGENTS FOR
STREET, NEW YORK.
Dealers in Bills of Exchange, Governments, Bonds
and all kinds ol
Marcuard, Andre Sc Co.,)
BANKERS
No. 53 WILLIAM
IlO
CINCINNATI, OHIO.
1
L p MORTON, BURNS & CO.
SOUTTER &
A
& Co.,
on
and
.
The Hon. JOHN ROSE (late Minister of Finance for
the Dominion ot Canada) Joins our firms this day
which will be continued under the style of MORTON
108
Exchange, and Commercial and Travelers’
Robert Benson Sc Co., )
Munroe Sc Co.
Bartholomew House Bank,
BOSS * CO.
Bills of
and
MORTON, BLISS & CO.
Western Bankers.
Page, Richardson & Co., Gilmore, Dunlap
BANKERS,
70 State
MB. WALTER WATSON (late Agent for the Bank
oi British North America, isew Yornojg this day ad¬
mitted a partner in our firm. New York, October
Ut,l860‘
773
Boston Bankers.
OFFICI OF Morton, Bliss & CO.,
N*w York, October 1st, 1869.
M
CHRONICLE.
Southern Bankers.
Do
18
8.
HIGH
STREET,
COLUMBUS, OHIO,
a
General
Banking, Collection, and Exchange
Business.
Williams&Guion-,
71 Wall
Culon A
Co.,
Freedman’s
Street, New York.
Alex. S. Petrie Sc Co*.
Liverpool.
London.
Knauth, N achod &Kuhne
BANKERS.
York,
Leipzig, Saxony,
AND
BRJAD ST.
Central Office
at
BRANCHES AT
Baltimore, Norfolk, Richmond, New Berne, Wll.
mington, Raleigh, Charleston, Beaufort, Augusta,
(Ga.b Savannah. Macon, Jacksonville, Tallaba^se,
Mobile, Huntsville, New Orleans, Vicksburg, Mem¬
phis, Nashville, Chattanooga, Louisville, St. Luuis
Martinsburg, New York and Washington.
The
D. L.
Deposits are
EATON, Actuary.
now
Edward C.
Correspondent.
Farmer, Hatch & Co,,
BANKERS
BROKERS,
78 BROADWAY AND 5 & 7 NEW STREET.
Stocks, Bonds and Gold bought and sold exclusively
on commission.
Accounts of Banks and Bankers received. Collec¬
tions made in the United States, British Provinces
and
Knrope.
Milwaukee, Wis.
Borg,
Memphis, Tenn.
Sam’l A.
Stack
New York
Lancaster &
STOPR
AND
No. 1113 Main Street,
CO.,
A CO
,
STREET, NEW YORK.
Payson,
Geo. P. Payson, Wm. S.
Alexander,jr.
the New York Stock Exchange.
Wall Street. New York.
& Co.
BANKEfev.
BROKER
PITTSBURGH
PA..
AND
Exchange Dealer,
STREET,
24
CA RONDELET
NEW ORLEANS.
Blake Brothers & Co.,
prompt attention to
collections and orders for investment of funds.
S. McClean
J. L. Levy,
S TOCK
OtUD.Bwan.
Morton, Galt & Co.,
BANKERS,
STREET, BALTIMORE, MARYLAND.
No. 23 NASSAU
STREET, NEW YORK,
Hewson,
BROKER,
EX¬
Richmond, Va.
A
Brokers,
Office No. 21 West Third Street,
Cincinnati. Ohio
Refer to: All Cincinnati
Banks, and MesersTjLOCKWOOD & Co., New York.
Co.,
BltOKERS,
BROWN, L % N CASTER
Government Securities, Stock*, Bonds and Gold
nought and sold on commission.
Bond
STOCK
No. 30 SOUTH
General Partner
Partner in Commendum
J. L. Levt.
E. J. Hast.
Collections made
on
all points.
Second National
Capital
Bank,
TITUSVILLE, PENN.,
-
-
-
Deposited with U. S. Treasurer
and Deposits
G. C.
HYDE, Cashier.
J. M.
*200,000
o secure
Circulation
500,000.
CHAS. HYDE Prsst.
Wkith,
AND
28
STATE
STREET, BOSTON,
EXCHANGE ON LONDON.
And
Sterling Credit*,
Stocks.
Marquand, Hill & Co.,
BROKERS,
BANKERS
dealers
Boy
in commercial paper.
Sell Massachusetts and New York
State
Government Securities, Stocks Bonds,
bought and sold strictly on Commission.
and
Gold,
AND
37 WALL
STREET,
New York.
John P.
Marquand,
George H. B. Hill
Stocks, Bonds and Gold, bought and Sola
Business Paper Negotiated.
mission.
For Sale.
B^iSHEF8
?^ent SHUTTER WORKER.—Tho
re?pectfnlly r. quest Capitalists and
t0 caU upon them at once and
examine
SffifiSrVW**?™
N£W and
most EFFICIENT
and
.w. s McAlister & co., 178
Broadway, n.y.
•
Gaylord & Co.,
and
W. M. F.
Correspondents: Lawrence JBkos.& Co.
A\D
oh
NO. 823 NORTH THIRD
STREET,
SAINT LOUIS MO.
collections promptly remitted for
bankers and
brokers,
52
.*3,410,300
*
Orders solicited for the purchase ox sales of Produce
and Securities. Prompt attentlor
guaranteed.
CHANGE
Manhattan Savings Bank
Swan &
Of
Capital paid in
amiss
Merchant,
LANCASTER, BROWN
50 WALL
ESTABLISHED 1837.
Special attention given to consignments of Cotton.
Gold, Stocks, Bonds and Foreign and Domestic
Exchange, bought and sold,
BANKERS
STREET, NEW YORK.
In connection with the
in St. Louis.
5iven to collections Pres. Chas.the Dick
H. Britton, throughout K. West
AND
Savannah, Ga.
London, Paris, &c.
d HI iscellaneou* Securities
No. 4f PINE
London and Paris for Sale.
Edward P. Curtis Cashier
l
DEALERS IN
an
on
NATIONAL BANK OF THE STATE
OF MISSOURI.
C. J. Hatch & Co..
Levy &
Southern
Drafts
cities
Bank, having reorganized as a National Bank
Is now prepared to do a
general banking business.
Government Securities, Coin, Gold Dust and Bullion
bonght and sold at current rates. Special attention
Anderson, Jr.
BANKER, FACTOR
Commission
on
on all the principal
of the United States and Canadas. Also
$1,350,000.
J. W. ALVORD, Prea’t.
LOUIS, MISSOURI.
Buy and Sell Exchange
Collections promptly made.
These Banks are for the Colored people.
Issue Letter* of Credit for
'I'lavelera,
available in all parts of Europe.
Exchange drawn
E.J.Fabrbr & Co.,
Cleveland, O.
ST.
This
the princfhst^^felties of Germany.
Switzerland,
.ngland, France, Sweden, Norway, Holland, .Bel¬
gium, Russia, Italy, Spain, Denmark, &c.
Bills of
BANKERS,
Washington, D, C«,
JAY COOKE & CO., New York
85 BRUHL.
Benoist & Co.,
CHARTERED BY CONGRESS IN 1865,
DRAW IN SUMS TO SPIT
Sc
L. A.
Savings Bank
/
Advances made on consignments to our Correspon¬
dents, and orders for the purchase of Merchandise,
Stocks and Bonds, executed by Cable or Mail.
Travelers’ and Commercial Credits issued, available
n all parts of Europe, &c..
New
NATIONAL
Henry
Banker and
J. M. Weith & Arents,
Late J.M. Weith & Co.,
DEALERS IN SOUTHERN AND MIS¬
CELLANEOUS
SfcCCRtTIES,
on com
Meigs,
Broker, No. 27 Wall St.,
No.
Offers his services lor the purchase and sale of
<J*yernment and all other Stocks, Bonds and Gold."
Interest allowed on deposits
Investments carNully attended to.
NEW STREET.
Loans Negotiated.
Lounsbery & Fanshawe,
BANKER8 A
Member ol New York Stock
Exchange,
(Formerly cashier of the Metropolitan Bank, and late
of the firm of H. Meigs, Jr., 6
Smith).
Gro. Abrwts
No
8
WALL
BROKERS,
STREET, NEW
Government Securities,
Geld and Foreign
S10VAZ
F. LOVS*WS*T,
YORK.
Exchange.
WIUUM ».
IAVMUWS
CHRONICLE.
THE
774
J A SEVEN PER CENT GOLD LOAN. A. V.
CHICAGO
PARK LOAN.
$6,500,000.
Railway now In successful oper¬
ation from Kansas City to Sheridan, proposes to build
an extension to Denver, Colorado.
The Government
granted Three Millions of Acres of the finest
be erected.
upon
the property and
property of
portion, and wealthiest as well as rapidly increasing
nart of the CITY OF CHICAGO, and that of the
towns of HYDE PARK and LAKE, which are con¬
tiguous thereto, amounting in the aggregate, accord¬
ing to the assessment for the year 1809 to $140,000,000
and upward is, by the terms of the Acts referred to,
irrevocably pledged to their payment.
raising; money
Provision is made for
for the payment of interest upon the
bonds as it shall mature, by the tenor of which the
County Clerk of Cook county, in which county Chi¬
cago and said towns are situate, is required upon the
certificate of these Commissioners, to levy upon the
property in SOUTH CHICAGO, HYDE PARK and
1 are for
such sums a3 shall be
required for Interest
purposes.
A
DABNEY, MORGAN & CO.,
M. K. JESUP &
12 PINK
They will bear interest at the rate of seven per
25
NASSAU
Co.,
Louisville & Nashville
RAILROAD,
30
YEAR
sight, and Interest allowed at the rate of Four per
cent per annum.
CERTIFICATES OF DEPOSIT issued, bearing Foub
per cent Interest, payable on demand, or after
fixed d&t68
COLLECTIONS made on all accessible points in the
United States, Canada and Europe.
Dividends
and Coupons also collected, and all most promptly
accounted for,
ORDERS
promptly executed, for the purchase aud
sale of Gold; also, Government
ties. on commission.
INFORMATION furnished, and
r~
and other Securi¬
purchases
or ex-
changes of Securities made for investors.
Foreign Exchange
GOTIATIONS of Loans, aud
effected.
&
BANKERS,
Co,,
r
No. 94 BROADWAY & No. 6 WALL STREET.
DEALERS IN GOVERNMENT
OTHER SECURITIES.
AND
Interest* allowed upon
deposits of Gold and Cui*
eutyect to Check at Sight. Gold loaned
and Bankers upon favorable term*.
Merchants
renev,
cent
No. 14 WALL STREET.
R. T. Wilson
8 1-2 to 9 Per Cent per Annum,
-
& Co.,
LATE
will add
Geobgb
No. 44 BROAD STREET,
York, as Trustees, upon its entire lines of
road, with all its rolling stock, property, franchise
and income, to secure the prompt payment of its bond#
for eight million dollars. These bonds are for one
thousand dollars each, payable thirty years from
1st of April, 1868, and bear seven per cent interest.
of New
The coupons are payable April
Bank of America in New York.
Gibson, Beadleston & Co,
BANKERS,
Chicago, November 4,1869.
earnings are now double the entire interes;
obligation it would assume.
The mortgage will be for an unusually small pro¬
whose net
portion of the value or income of the property, and
we therefore unqualifiedly recommend these bonds to
investors as in all respects a first-class security.
It is thg purpose of the Company to issue, at pres¬
ent, only a small portion of its Bonds secured under
this mortgage, which we are now authorized to sell,
in lots to suit purchasers, at ninety and accrued in
terest.
J. B. ALEXANDER & CO.,
No. 19 Nassau st.,
amount taken, and payment of
ments within
balance by install¬
sixty days by an adjustment of in¬
City Banks.
>
..
ADVANCES made on all marketable securities.
CERTIFICATES of Deposit issued bearing interest.
the
terest at seven per cent.
All ef the Two
Bight Tears bonds have been sold
slnee the
POU‘“ °f
Tears, Three Tears
preceding Circular
DlfI0N
LOANS negotiated on FORKJGMT AMD DOMESTIC
PRODUCE, fix store aid afloat: We invite particular
attention to this branch of our bstinei* in which we
was is¬
>
have unusual faculties
__
~
September 5th, 1869.
$200,000
Bonds*
City of Louisville 7 Per Cent
having20 years to run, interest payable semi-annually,
on the first days oi April and October, at the
AMERICA,
in this city.
A special tax has been levied to meet the interest on
these Bonds, and the sinking fund of the city amount*
to about $20j,005 per annum. ’ . ,
The City of Louisville has always met
With its
STOCKS, BONDS, GOVERNMENT SECURITIES.
N.T
JOHN J. CISCO & SON
No. 59 Wallet.,N.
revenue
FOREIGN EXCHANGE and GOLD bought and sold
on the most favorable terms.
INTEREST allowed on deposits either In Currency
or Gold, subject to check at sight, the same as witrn
present
These bonds are a first mortgage upon
it4#nan<tfaj
promptly and regularly.' Its present
from taxation alone is upward of $1,806,w.
obligations
NO. 50 EXCHANGE PLACE.
Note—Purchasers of the Bonds may be accom¬
modated by payment of ten per cent upon the
and October, at the
the
j road, which has cost over Fifteen Million Dollars, and
BANK OF
L. B. Sidway,
Chauncey T. Bowen,
indebtedness of $2,364,000
maturity, the Company has executed a mortgage to
James Punnett and Junius B. Alexander, of the city
at
NEW ZORC,
Government Securities, Stocks. Bonds and Gold
bought and sold on the most liberal terms. Merchants
Bankers and others allowed 4 per cent on deposits
The most liberal advances made on Cotton, Tobbacco
&c., consigned to ourselves or to our correspondent
MeBsrs. K. GILLlAT & CO., Liyerpoo
t
Paul Cornell.
sued.
largely to the value of its entire property,
and to retire the present
WILSON, CALLAWAY A CO.,
Merchants,
successful operation many
30th, 1868, were $691,891 40, and the earnings for the
eight months ending August, 1809, were $335,819 64
more than ior the corresponding months oi 1868.
To obtain funds for purchasing "other lines which
.a
Bankers and Commission
Its
years, and is doing a large and steadily increasing
business. The net earnings for the year endiDg June
COMMISSIONERS;
Wilson,
W. Gage,
BONDS,
The bonded debt is but $2,864,000.
$15,286,000.
r
according to the length of the Bond, upon their in¬
vestments, a schedule of which rates may be had at
the Axxbicux Exchange National Bank, In the
City of New York, where copies of the acts of the
Legislature of Illinois, providing for the erection of
such Park, the deoisions of the Supreme Court of
Illinois, upon the same, and such further information
relating thereto, as may be desired, may be obtained.
John M.
CENT
The railroad connecting Louisville and Nashville,
Kentucky, la» with Its branches, 357 miles in length.
The cost of the road and equipment hae been
^
*
PER
The road has been in
DEPOSITS received from Individuals, Firms, Banks,
Bankers and Corporations, subject to check at
the takers
and
7
Mortgage
stock pajrs eight per cent dividends, and the Company
has never failed to meet all liabilities at maturity. '■
STREET,
(Corner of Cedar street.)
National Bank in the City^f New York.
These Bonds are offered at rates which will yield to
Q
Wm. A. Stephens
Geo. Opdtke Sc
per annum, payable semi-annually, principal and
interest to be payable at the American Exchange
«*•
Also, continue to receive money on deposit, subject
draft, and allow interest on daily balances.
to instant
First
BANKING HOUSE OF
7 “
“ 8 "
“ 10 “
NEGOTIATION OF LOANS,
G. Feancis Opdyke.
$2,080,060, and will be of.the tenor following, viz.:
“
give their attention to the
mission,
AND TO THE
STREET, N. Y.
George Ovdyke,
BROKERS,
STREET,
Ptirdiaae and sale of Stocks on Com¬
COMP’T,
Lockwood
E,000 to mature in 6 y’r*
...
Jno. O’Brien,
58 WALL
N. Y.
53 EXCHANGE PLACE,
principal of said Loads, at
2 y’rs
,000 “
3 “
,000 “
4 “
$600,000 “
5 “
WAlL STREET.
BANKERS AND
Continue to
thirty years to run, principal and in.
terest payable in gold, semi-annually, seven per cent.
The coupons will be payable semi-annually in either
Frankfort, London, or New York, and will be free
from Government taxation. The bonds for the pres
ent are sold in currency at 96, with accrued interest.
Circulars, maps, and pamphlets sent on application.
by these Commissioners are linn dd to
),000 to mature in
),090 “
“
5,000 “
“
$200,000 “
"
Wm. &
RESPECTS THAN
The loan has
The Bonds
to be issued
and
It Is
the best loans In the market
GOVERNMENT SECURITIES.
NO.
each year, is also provided
for by the assessment provided by the Acts of the Leg¬
islature, of the cost of the property not benefited and
improved thereby. Amp’e provisions are also made
for the use of these bonds in payment of assessments
for such benefits. As preliminary to the offer of these
bonds, and In order that no doubt might be suggested
upon the Acts of the Legislature above referred to,
andfthe powers of the Commissioners, the various
que&lons arising unaer them were submitted to and
have been passed upon by the Supreme Court of the
State of Illinois, the tribunal of last resort in questlons affecting the construction of these Acts, and the
validity and efficacy of their various provisions, par¬
ticularly in relation to assessments and levies, have
been affirmed and placed beyond question.
No. 12
GOVERNMENT SECUBITIE
GOLD, &C.
1
road in profitable operation, and will
EVEN BETTER IN SOME
Milking Fund
for the redemption of the
the rate of ten per cent In
BANKERS
effectual manner.
open the trade of the Rocky Mountain country,
connect it with the great markets of the East.
in each year
“
Hatch, Foote & Co.,
$6,500,000.
It represents a
Dyck,
STREET.
BROAD
AND DEALERS IN
This loan is secured In the most
consist¬
of land lying with¬
CHICAGO. The
South Chicago consisting ol the business
ing of some Eight Hundred Acres
in and adjacent to the CITY OF
30
NO.
mortgaged
security of a loan of
considered to be one oi
lieu
franchise of the Parte,
lands In Kansas and Colorado, which are
for the
Van
B.
STOCK, BOND AND GOLD BROKER,
The Kansas Pacific
has
undersigned Commissioners to superintend the
Erection of the SO»TH PARK OF CHICAGO, in the
State of Illinois, Offer for Sale, at THE AMERICAN
EXCHANGE NATIONAL BANK, the BONDS author,
ized to be issued by the various acts of the Legists,
tare of Illinois relating thereto.
These Bonds are
Issued to provide means to pay for the lands to be
The
They are made a
Miscellaneous.
Financial.
Bonds for Sale-
embraced within the Park to
[December 11 1889
comparatively small debt, and the conserve
the-management
tlve policy which has always marked
of its finances, these Bonds constitute one of the safest
and most desirable investments now offered in.«us ,
market.
" ,
'
v*
Tae Bonds can be registered at the transfer agency,
the Farmers’ Loan and Trust Company, New-York,**
.
the
option of the holder.
Any further particulars can
office. .
at our
~
..
be had on application
v
,,
’
„
,
.
^
WILLIAM ALEXANDER SMITH &
No. 40
C0„
WAlWfl
THE
December 11, 1369.]
BANKING HOUSE OF
,
Fire Insurance
Kountze,
Luther
NO.
63
npnoslts received from Banks and Individuals, sub
to check at sight, and interest allowed thereon at
ffOHR PER CENT per annum.
'collections made throughout the United
Provinces and Europe.
Governments Securities bought and sold.
WALL
No. 4 Wall
& Son,
Exchanges, in person, and transact a Gen
Exchange, and Brokerage Business.
eral Banking,
&
AMERICAN
$5,150,93! 71
NO. 7 RUE
Springfield
.
Providence
Washington
•
Capital
$200,000 00
Assets
........$.192,425 52
SCRIBE, PARIS,
American
INSURANCE
NEW YORK.
Issue Ciicular Letters of Credit for Travellers in all
parts of Europe, etc., etc.
Exchange
on Paris.
Providence,
of
Stoker, Taylor 5t Co.,
STREET,
NEW
1868...
...
Premiums
on
$6,739,96989
.
Policies not marked off
1st January,
1868
3,563,002 K
Total amount of marine premiums....
$9,845,972 R
No
policies have been issued upon
life risks; nor upon fire risks die*
connected with marine risks.
Premiums marked off from 1st Janu¬
ary,
1868, to 31stDecember, 1868... $6,80T,9?$ R
YORK.
r. i.
American
P'ire
Insurance Co.,
COLLECTIONS made in all parts of Europe.
BRANCH OFFICE
9 COOPER INSTITUTE
'
$1,888,280 61
.
The
Company has the following as- j
sets, viz.:
.
"3
__
_
York\
...^9,214,100 $i
^ 210,000 09
Real estate and bonds and mortgages
Interest, and sundry notes and claims
due the Company, estimated at....
/
Premium notes and bills receivable
Cash in bank
BROADWA \,
COMMISSION.
wr-7
-
.
stock, city bank and other stocks... $7v0f!;48i 8$
Loans secured by stocks and
other-4
wise
T..
INSURANCE.
114
.
United States and State of New
ALEXANDER, Agent.
OFFICE
$3,081,080 49
~
North
Sight and Time Bills on LONDON. LIVERPOOL,
DUBLIN. PARIS, BREMEN,
and
BERLIN,
HAMBURG,
FRANKFORT-ON-THEMAIN, VIENNA, etc,
ST06k8. BONDS and GOLD BOUGHT AND SOLD
period
expenses
$20l>,000 00
$324,345 00
FIRE
EDINBURGH
on
irom
on
Reports of premiums and
BANKERS.
NASSAU
December, 1868:
Marine Bisk",
1st January, 1868, to 81st
Dec*
same
COMPANY,
Cash Capital
Assets
* AS. A.
21
the 31st
on
Losses paid daring the
John Munroe & Co.,
NO. 8 WALL STREET,
The Trustees, in conformity to the Charter ct fits
Ci mpany, submit the following statement of As
affairs
INSURANCE COMPANY,
OF PROVIDENCE, R. I.
Cash
NEW YORK, JANUARY 36, 1869.
Premiums received
SPRINGFIELD, MASS.
Cash Capital
3500,000 00
Assets
3901,687 11
Co.,
BANKERS,
Mutual Insurance" Co.,
$3,000,000 00
FIRE & MARINE INSURANCE
CO.,
Street, New York,
Munroe
Comp’y,
HARTFORD, CONN.
Cash Capital
Assets
Execute orders at the New York Stock, Government
and Gold
A TLAN TIC
STREET.
..
'
OFFICE OP THE
Agency,
JEtna. Insurance
States, the
Rrittsh
Hardy
Insurance
NEW YORK.
52 Wall Street. New York,
H. C.
775
Insurance.
Miscellaneous,
-
CHRONICLE.
'v^V..vr:. .. 7.7.
^
Total amount of assets.
290,580 tt
968,267 5$
405/548 M
$13,660,881 8i
THIRD
AVENUE.
INCORPORATED 1823.
White,
DeFreitas
5c
•Rathborne,
Bankers and
Cash Capital
Brokers, 17 Broad St.
Government Securities. Gold, Stocks and
Bonds,
bought and sold exclusively on Commission at the
New York Stock Exchange.
1 terest allowed on Deposits.
' •
i
Beler to WM. H. COX, Es<%, Cashier Mechanics
National Back.
$500,000 00
Surplus
Cash
Six per cent Interest
245,911 93
Capital and Surplus, July 1st,
1868, 3745,911 93.
Insures Property against Loss or Damage by Fire at
be usual rates.
Policies issued and Losses paid at the office of the
Company, or at Its various Agencies In the principal
cities In the United States.
JAMES W. OTIS. President.
R. W. BLKECKER, Vice Pres
F H. Carter,.Secretary,
f. Griswold, General Agent.
WM. JESSOP &
f
Importers of Norway & Sw edes Iron, Including
UB, JIB, 8P, and other brands, which they y***J
offer for sale at 91 and 93 John
street, New York
ami 133 and 185 Federal
street, Boston.
They have also in stock their usual supply of every
description of bar and Sheet Steel.
Morris, Tasker 5c Co.,
Pateal Iron
Works, Philadelphia.
annfactnrers of Wrought Iron Tubes, Lap Welded
Boiler Flues, Gas Works
Castings and Street
Mains, Artesian Well Pipes and Tools,
Gas and Steam Fitters’
Queen Fire Insurance Co
OF LIVERPOOL
SONS,
Tools, &c.
Mercantile Insurance Co
accul*a,telY htted to
ViTTHEW BAIBD.
GKO. BURXH.vM.
CHA8
T. PA BBT
FORGE AND WHITE
Coke
AND
,
*
Pig Iron
BRANCH OFFICE,
Dividend
on
of Forty
Per Cent is
the net earned premiums
of the Company, for the year
ending Slat
December 18S8, for which certificates will hi
on
and after Tuesday, the Sixth ot
By order of the Board,
J, H. CHAPMAN,
Secretary.
Bryce,
Daniel 8. Miller.
Wm. Sturgis,
R. L.
Taylor,
Stephenson,v
Paul
Spofford,
Sheppard Gandy,
Francis Skiddy,
Charles P. Bnrdett,
Robert O.
Fergmio^
SamuelCL W«4,
Henry K. Bogert.
Geo. L. Chase, Pres’t.
s&tiafeta*
FIRE
tta&K*
Samuel L.
G. De Foteot.
JoHn d. Jones, Pmumt.
H. Kellogg, Pres
CHARLES
promptly adjusted by the Agents here, andpald
in current money.
EZRA WHITE & SONS,
Agents,
NO 50 WILLIAM STREET.
Gordon W. Burnham
Frederick Chauncef
William H. Webb,
David Lane.
INSURANCE CO.,
OP HARTFORD, CONN.
*
Capital and Surplus $1,400,000.
Losses
Gaillard, Jr,
Hand,
James Low,
B. J. Howland,
Benj. Babcock,
Robert B. Minturn,
C. A.
Geo. S.
James
Capital and Surplus 92,000,000.
Skilton, Sec’y.
J oseph
Caleb Bars tow,
A. P. Pillot,
STREET, NEW YORK.
Geo. M. Coit, Sec’y.
April
next.
Royal Phelps,
FIRE INSURANCE COMP AN V
OF HARTFORD, CONN.
D. W. C.
*>y thQ CUMBERLAND COAL
IRON CO. 90 Broadway, or Wall St.
EDINBURGH.
Hartford
PHOENIX
FOUNDRY,
A
declared
William E. Dodge,
Co.,
gauges and thorough-
after
Hetxrjr Coit,
EZRA WHITE, Manager.
CHAS. E. WHITE, Assistant Manager.
PHILADELPHIA.
legal representative
the Second cl
The outstanding certificates of tlie issue of
1865 will he redeemed and paid to the hold¬
ers thereof, or their
legal representatives, on and
Wm. C. Pickersgill,
Lewis Curtis,
Charles H. Russel],
Lowell Holbrook,
R. Warren Weston,
•F
UNITED STATES
their
February next.
J.D. Jones,
Charles Dennis,
W. H. H. Moore,
AND
AND
the outstand*
TRUSTEES J
North British
LONDON
or
on
profits will he paid
and after Tuesday
issued
$14,044,635 31 IN GOLD.
/ntaheS,?wSa?,le* 'P1?n’ guaranteed,
rini3n and
Efficiency hilly Ma^rla1’ Workmanship,
on
THE
50 WILLIAM
5c
1,893,226
$1,432,840
PAID UP CAPITAL AND ACCUMULATED FUN
BALDWIN LOCOMOTIVE WORKS.
to the holders thereof
United States Branch, No. 117 Broadway, N. Y
GEORGE ADLARD, Manager
William H. Ross, Secretary.
STREET, NEW YORK.
M. Baird
LONDON.
£2,000,000 Stg.
Special Fund of $200 000
Deposltecfln the Insurance Department at Albany.
OFFICE AND WAREHOUSES:
15 GOLD
AND
Authorized Capital
Subscribed Capital
Paid up Capital and Surplus
of
Tuesday the Second of Fehruaif
next, from which date.all interest thereon wfl
cease.
The certificates to be produced at the tide
of payment and canceled.
.
Norway and Swedes Iron
ins certificates
W. H. H.
,
f
J. D.
DENNIS, Vlce-Pretf dews,
MOORE, 2<Yie»Piedt.
HEWLETT, 3d YlesMb
776
THE
CHRONICLE.
[December U, 1899
:
Miscellaneous.
OBAimOIT VIBBAJtD,
XMXBfON FOOTS,
Iron and Railroad Materials.
▲LEX. P. FISKE.
XDWARD FOOT*.
Vibbbard, Foote & Co.,
40
NAYLOR &
NEW
YORK,
Steel
Rails,
Iron Rails,
TYRES,
Frogs, and all other Steel Material for
Railway Use.
Rails,
NAYLOR,
BENZON Sc
34 Old Broad Street,
who give
Bessemer
SCOTCH PIG IRON,
of No.
Pig Iron,
YARD, ON DOCK, AND TO ARRIVE.
Scotch
1
well
as
Old Rails,
Correspondents In America:
A
Co., Philadelphia, Mr. J. Edgar Thomson, Phil*,
delphia
Scrap Iron and Metals.
Novelty
Iron
Works,
S. W.
Hopkins London.
& Co.,
street,
58 Old Brjad
In lots to suit
AND
purchasers. Apply to
HENDERSON BROTHERS,
No. 7
Nos. 77 Sc 83 Liberty
Bowling Green, New York.
Street,
69
Palm and Ornamental Iron Works of all kinds for
&
Bar
Foreign
Iron,
Ineluding all the usual sizes and shapes ol
ULSTER IRON,
18 William
In lots to suit purchasers,
BGLESTON
ssors
BROTHERS
to
Sc
CO.,
EglestoL, Battell A Co.,
166 SOUTH
STREET, NEW YORK
Henry Lawrence & Sons,
MANUFACTURERS OF '
£
Francis
Spies,
GENERAL SHIPPING AND COMMISSION
66 South
BURDON
Thomas
m PEARL
STREET, NEAR BEKKMAN STREET
IRON.
IRON.
S,THURSDAYS A SAT UBD AYS
IKON
McGovYan,
•? 3
WATER
OF
SUPERIOR
QUALITY,
SALE
(at the option of the buyer) for Foreign; when desir¬
ed, we Will contract to supply roads with tbelr
monthly or yearly requirements of STEEL OR IRON
RAILS, taking their
OLD RAILS IN TRADE FOR NEW
tarnished, receiving the difference In cash, and allow¬
ing the highest m.arket price for their Ola Rails, and.
if necessary, receiving the latter after the delivery of
LOB
est
69
CHEAP.
WM. P. CLYDE,
Genl. Snpt. and Agent, Pier II N.R.
H. M. WHITNEY,
Boston.
Agent, Central Battery Wharfs,
-
BUTLER’S PATENT COTTON TIES,
AjfetsGold,$17,690,390
AJfetsinthe
U. States
-■
45
2,000,000
William St.
Hopkins
FOR BALING COTTON.
5c Co.,
York/
ROPE.
STEEL, CHARCOAL and B. B., of tba very bait
quality, suitable for Ships. R-gglng. Suspension
Bridges. Guys, Derrioks. Inclined Planes, Hoisting
purposes, Ac. A Large Stock constantly on hand at
JOHN W. MASON - Sc CO.’S,
48 BROADWAY.
Iron Cotton Ties,
This Tie is made ol the beat Belgian Iron, and reselved the highest premium at the Louisiana State
Fair, for atrenglh and simplicity.
For sale very
COTTON
cheap.
TIES
MANffFACTUBIO BY TVS
QUIN Sc ARNOLD, Agents,
48 BROAD STREET.
The Liverpool& Lon¬
don & Globe Ins. Co.
STREET,
71 Broadway, New
WIRE
Cheapest and Best.
R., at 5 P. M.
HOUSE,
possible rates of freights. Address
S. W.
845 Pearl Street.
—
DON
68 OLD BROAD
D. LITTLEJOHN Sc CO.,
—
Rails,
for execution at a fixed price in Sterling or on com¬
mission at the current market price abroad when tbe
order Is received in London; shipments to be made
at stated periods to ports in America and at tbe low¬
WITH OR WITHOUT BUCKLES,
FOR'
Bessemer Steel
of American and Foreign manufacture, rolled to any
desired pattern and weight for llnial yard ant ol
approved lengths. Contracts for both IKON AND
STEEL RAIL6 will be made payable in United States
currency for America, and in either currency or gold
ST., PITTSBURGH, PA.
SAILING ON INTERMEDIATE DATS.
Connecting at Boston with Fitchburg. Boston and
Lowell, Boston and Maine and Eastern Railroad, and
in New York with the Erie Railway. Freights taken
and through rates given to and fro n all points on the
above&oads and their connections. No charge for
Whariarge in Boston.
are
to our
Iron Cotton Ties
Aeland, Wm. P. Clyde and P. Sandford
1,000 Tons Each,
N.
Rad.
Railroad Iron.
AND
From PIER 11
of
the New Kails.
■*
Orders for Foreign Ralls, both Steel and Iron, wlh
be taken for tra^iUisslon by Mall or through the cable
IRON BROKER.
NEPTUNE, NEREU* and GLAUCUS,
6,000 Tons Each,
i
SPIKES.
NEW YORK
Neptune Steamers,
I AILING TUESDA
Managers
always In a position to tarnish all sizes: pat¬
and weight of rail for both steam and horse
roads, and In any quantities desired either for IMME¬
DIATE OR REMOTE delivery, at anv port in the
United States or Canada and always at the very lowest
ear rent market prices.
W e are also prepared to sup¬
ply
METALS.
METROPOLITAN STEAMSHIP CO.’S
OOXFBI8XX&
the attention of
and Contractors threughout the United States
Canada to our superior facilities for exeoutini
orders at manufacturers prices, for ell descriotlonacS
both AME uICAN and FOREIGN
ana
We
J. Pope & Bro.
Wm. D.
OUTSIDE LINE OF
We be? to call
ways
Companies.
terns
ADVANCES MADE ON APPROVED SHIPMENTS
Merchandise to my friends In South America, British
and Spanish West Indies, Great Britain, India and
Australia.
For Boston Daily.
EQUIPMENTS.
Railroad
AGENTS FOR THE CELEBRATED
Street, New York,
(Formerly with Messrs Mosss Taylor A Co.)
AND
Street, New York.
T
Bonds,
Companies and Contractors In conaec
purchase and sale of both Foreign and
Railroad Iron
ED AND SOLD.
MERCHANT,
No.
'Citrjjfiflir,
For Railroad
tlou with the
American
OLD RAILS AND SCRAP PURCHAS¬
FOB EXPORT AND DOMESTIC USE.
1S2 FRONT STREET, NEW YORK
AND
Railroad
Railroad Iron,
Street Rails and Light
Rails for Mines.
tDAGE
Broadway, New York,
TOWN, COUNTY, CITS’, STATE,
Buildings.
Maws k
71
Sc
Negotiate In Europe and America every description 0
Corner Broadway, New York.
EXTRA QUALITIES OF
American
Rails, &c.
U. S. BONDS AND AMERICAN RAILWAY
8E0U
BITIES NEGOTIATED.
Messrs. Jat Coox* a Co., New York, Messrs.
j*T
Cook* A Co., Washington, Messrs E. W.
Clark*
Railroad Iron,
as
Smith,
Railroad Iron,
Old Rails,
special attention to orders for
RAILWAY EQUIPMENTS.
approved Braude
CO.,
Material..
Bartholomew House, opposite Rank
of England. —
“
LONDON, JK. O.
HOUSE IN LONDON:
AND
IN
RAILS,
CAST STEEL
Cast Steel
Old
the
PHILA.,
20S So.4th stree
BROADWAY, NEW YORK,
CAST STEEL
All
>
80 State street.
Iron and Railroad
Gilead A.
CO.,
BOSTON,
99 John street.
—
Patent Nut & Bolt Co.,
(LIMITED).
Iron Cotton Ties.
•
•
•
.
Birmingham, on hand, and for sale in quantities
to suit
r
The undersigned, Sole Agents in New York, lor the
sale and distribution of the
purchasers. Apply to
WILLIAMS Sc GUI ON.
71 Wall st.
ARROW TIE AND SELF-FASTENING
WROUGHT IKON BUCKLE TIES.
For Baling Cotton,
Manufactured by J. J. McCOMB, Liverpool, respect¬
BEARD’d PATENT IRO* LOCK ANP
SELF-ADJUSTING TIES,
fully solicit orders for delivery in New York or other
ports in the United States, or at Liverpool.
,
SWENSON, PERKINS dc CO.,
80 BEAVER STREET.
Unsurpassed for Strength and Rapidity of Adjust
meat.
BEARD St BRO«9 ,
407 BROAD WAT.
@FedFRASER