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MERCHANTS’
HUNT'S
%
MAGAZINE.
fjkwjsjraper,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED
NO. 720.
SATURDAY, APRIL 12, 1879.
VOL. 28.
STATES.
for, as we look
THE CHRONICLE.
back, does it not seem as if Mr. Sherman had really
The Silver Question in
Mr. Shermawi’s Success and Pen¬
Great
Britain
365 accomplished at least two impossible things.
First
sion Payments
361
Cottcn Supply and Consumption. 362 Latest Monetary and Commercial
order
in
was the resumption of specie payments.
To be
English News
368
The Egyptian Crisis
3o3
Commercial and Miscellaneous
The Movement Among the South¬
News
371 sure, we may say it all came about of itself, and yet our
Blacks
363
Railroad Earnings in March, and
memories will trouble us a little in reaching that conclu¬
from January 1 to April 1
3S4
GAZETTE.
THE BANKERS
sion ; for how many during 18T8 insisted that the end
S. Securities,
Quotations of Stocks and Bonds.. 374
Local Securities
375
Railway Stocks, Gold Market,
sought could not be reached. There was no basis for it;
Investments, and State, City and
Foreign Exchange, N. Y. City
Corporation Finances
376 it was standing the cone on its top, or, still worse, on
Banks, etc
31
THE COMMERCIAL TIMES.
Commercial Epitome
379] Breadstuffs
3S3 nothing, Where was the gold to come from, or even
Cotton
379 I Dry Goods
384 if
obtained, what was
prevent the people from draw¬
ing it all out as soon as the gates were opened. Besides,
Chronicle.
even granting the end could be attained, it would destroy
The Commercial and Financial Chronicle is issued on Satur¬
public credit and individual credit ; everything would
day morning, with the latest news up to midnight of Friday.
be swallowed up in the ruin it would produce, and
TERMS OF SUBSCRIPTION-PAYABLE IN ADVANCE:
then the attempt would end in a miserable failure, for
For One Y'ear, (including postage)
$10 20.
For Six Months
do
6 10.
specie payments could not continue two months. These
Annual subscription in London (including postage)
£2 6s.
the opinions most widely held and expressed;
were
1 7s.
Sixmos.
do
do
ao
Subscriptions will be continued until ordered stopped by a written order, or
but the decree stood, the gold came, specie payments
at the ‘publication office. The Publishers cannot be responsible for Remittances
unless made by Drafts or P» st-Office Money Orders.
were resumed, and three and a half mouths have passed
London Office.
The London office of the Chronicle is at No. 5 Anstin Friars, Old Broad
with the country growing happier and the position in
Street, where subscriptions will be taken at the prices above named.
Advertisements.
every way strengthening each succeeding day.
Along¬
Transient advertisements are published at 25 cents per line for each insertion,
side of this also was that other folly, the funding scheme.
but when definite orders are given for five, or more, insertions, a liberal dis¬
count is made.
Special Notices in Banking and Financial column 60 cents per
We need not trace its history.
It was an impracticable
line, each insertion.
dana,
>
WILLIAM B. DANA & CO., Publishers,
79 & 81 William street, NEW YORK.
plan even up to last Friday with many. And now that
FLOYD, JR. f
Post Office Box 4592.
complete success has resulted, to belittle the event or
the agency in it of our Secretary of Finance will only
A neat file-cover is furnished at 50 cents; postage on the same is 18
cents.
Volumes bound for subscribers at $1 20.
subject ourselves to ridicule. We had our comfort say¬
fW" For a complete set of the Commercial and Financial Chronicle—
July, 1865. to date—or of Hunt’s Merchants’ Magazine, 1339 to 1671, inquire
ing these things were impossible, Just now is it not
at the office.
CONTENTS.
to rest
upon a
pretty solid foundation;
...;
ern
.
..
william b.
JOHN G.
wisest to let Mr.
Sherman have his own way ?
As
we
PENSION write, the further report comes to us that he has, to-day,
actually sold to the foreign Syndicate the full amount
PAYMENTS.
of the four per cents necessary for retiring all the ten
Personal and government finances are adjusting
themselves so satisfactorily under the present manage¬ forties, 194 millions less the 10 millions called this week.
The announcement may be premature, but if it is not
ment of the Treasury that any interference, however
true to-day it soon will be.
You may seek to pass this
slight, by Congress, is not received with favor by the
off as a mere result of fortunate circumstances, but the
SHERMAN'S
MR
SUCCESS
AND
In fact, the successes of Mr. Sherman have
a responsive, hearty good feeling in business
circles, that the legislator who disturbs existing rela¬
tions makes himself and his party risk everything on
the event.
Even if his action does no harm; but does
good, he receives no credit, for that inures to the benefit
of the Secretary who so thoroughly, at, least for the
moment, commands general approbation and confidence.
On the other hand, if the Secretary’s plans miscarry in
the future, the public will charge it all to such inter¬
ference, if there be any. This is a necessary result of
public.
raised such
the
and ought to be enough to dis¬
the Congressional seeker after popularity, if be
present situation,
courage
bad no higher
motive.
Besides, public favor in the present case appears
public will call it wise management.
We are led to these reflections by the action of the
Representatives, on Thursday, directing the
issue, for the purpose of paying pension arrears, of the
10 millions of legal tenders held in reserve for our out¬
standing fractional currency. The question came up on
a motion to amend the Legislative Appropriation bill,
which proposed amendment was adopted in the follow¬
House of
ing form.
In order to
provide for the payment of arrears
of pension the Secre¬
tary of the Treasury is directed to issue immediately in paymentthereof,
as they may be adjusted, the $10,000,000 in legal tender currency now
in the United States Treasury, kept as a special fund for the redemption
And fractional currency presented
redeemed in any moneys in the Treasury at
is presented.
of fractional currency.
tion shall be
same
for redemp¬
the time the
362
THE CHRONICLE.
This amendment of
is
not
streams in
the Red River
region all through the season ;
it is an interference with the our telegraph weather report of last week gives the heighth
Secretary’s management of the Treasury, and indicates at Shreveport that day 5 feet 2 inches above low water
a desire to disturb the
existing situation, which is so full mark, against 17 feet 4 inches last year, and this has been
of promise.
Some have claimed that the result of the about the condition all the season except for a period in
provision, if passed, will be an actual increase of the cur¬ February, when the river there was reported on one day
rency, and others that it is a part of the resumption (February 14th) 16 feet 3 inches, the highest for
very
reserve which is thus
appropriated. Neither of these many months.* In view of these facts and circumstances
assertions, however, is true. The ten millions of green¬ the following would seem to be a fair estimate of the
backs existed before and are included in the 346 millions
year’s yield :
fixed by law; they were simply held under the statute
1879.
for the purpose of redeeming, as presented, outstand¬
1878.
Receipts
at ports to April 4
4,173,503
3,953,344
ing fractional currency, which, on the first of April,
Receipts overlaild for year
475,000
317,620
amounted to $15,925,662. The statute is as follows.
Receipts at ports from April 4, aud corrections.
392,301
392,301
material, except
•
itself considered
[Vol. xxviil
so
far
very
as
-
I
Resolved, by the Senate and House of Representatives of the United
States of A merica in Congress Assembled, That the
Secretary of the
Treasury, under such limits and regulations as will best secure a just
and fair distribution of the same through
the country, may issue the
silver coin at any time in the Treasury, to an amount not
exceeding ten
million dollars, in exchange for an equal amount of
legal-tender notes ;
and the notes so received in exchange shall be kept as a
special fund,
separate and apart from all other money in the Treasury, and be re-issued
only upon the retirement and destruction of a like sum of fractional
currency received at the Treasury in payment of dues to the United
States; and said fractional currency, when so submitted, shall be de¬
stroyed and held as part of the sinking fund, as provided in the act
approved April seventeen, eighteen hundred and seventy-six.
A commission
Southern consumption
Total crop
5,040,804
160,000
4,663,265
148,000
5,200,804
4,811,265
As to the India crop, the early
receipts at Bombay
leave a very unfavorable impression ; but the last two
weeks there has been a turn for the
better, and as the
home consumption there promises to show a considerable
falling off, the supply for Europe from the whole of
India, according to latest information, still indicates some
increase. Taking, however, India,
Egypt, Brazil and
all sources other than America
together, the best author¬
ities appear to estimate a supply, from this time
on, about
equal to last year. Consequently, we may confine our
inquiry to the American movement as determining the
difference in the question of supply.
appointed by the Secretary, we think
thorough an
probable de¬
struction and loss of fractional currency reached
$8,083,513 50. If this estimate is
correct, there must be of the
amount now reported as
outstanding less than 8 million
♦dollars in existence.
These being facts, of course the
AMERICAN COTTON FOR EUROPE.
original object for retaining the 10 millions legal tenders
Out of a crop of 5,200,000 bales we allow for Ameri¬
in the Treasury is already in
part attained, and their can
spinners in the North 1,425,000 bales, and in the
issue, if in the meantime there had been no change in
South 160,000 bales, or a total of
1,585,000, leaving for
the currency situation, would not excite special
com¬ all
Europe 3,615 000 bales. As the exports, April 4th,
ment.
But the relation of the government to the legal
had reached this year 2,928,819 bales,
against 2,763,261
tenders has materially changed, and the proposed
legis¬ bales same time last
year, there remains this year for
lation is, therefore, objectionable as unnecessarily dis¬
shipment 687,000 bales, against 583,000 bales for same
turbing a state of things under which the country is months of 1878.
Europe’s supply of American cotton
rapidly recovering itself.
for the balance of the season must,
therefore, be about
it
last year, reported after making as
examination as the case permitted that the
was
COTTON SCPPLY AND CONSUMPTION
We have for months
reference to ‘the
cotton in the
course
world,
omitted to make any special
of consumption and supply of
nothing of sufficient importance
change previously expressed conclusions has trans¬
pired. The first of April is however a favorable period
for reviewing the situation, as most of the points before
then in dispute usually become at that time
pretty well
settled. This seems to be especially true this year, and
it may be cf servicBp'therefore, to bring
together the
to
results reached.
as
as
follows:
-
April 4.
Stock in
Liverpool
Stock
Continent
on
1879.
I
American afloat to Europe
United States stock
American exports after April 4
Total
supply, bales
This would show
.
459,000
245,000
586,000
531,000
687,000
2,508,000 '
a
1878.
580,000
363,000
606,000
565,000
583,000
2,697,000
falling off in the visible supply of
1
?9,000 bales. Of course, if the summer season should
be unfavorable the stocks in the United States carried
might very likely be larger than last year and the
UNITED STATES CROP, AND SUPPLY ELSEWHERE,
European exports to that extent decreased.
But to make good this deficiency there is,
There is but little room left for discussion as to the
according
extent of the present crop in the United States. Returns to Mr. Ellison, an increase in the invisible
supply of
rather over than under 200,000 bales.” This state¬
of the overland movement up to the first of
April show
-a
total (according to
our
own
figures) of over ment in substance agrees with the known facts as
150,000 bales in excess of the movement up to the same acknowledged by the leading authorities. Consequently,
in the matter of supplyjthere will be no material
date last year. That this increase will, no
part of it, be
change,
lost, but will, to some extent, be further added to during for the balance of the season, from last year.
the remaining months, we assume to be
EUROPEAN CONSUMPTION.
granted. As to
future receipts at the ports and final
While very many have all along been
corrections, we set
estimating the
them down the same as in 1878. Many think
they will urgency of this years’ demand by the deficiency in sup¬
be less. That is possible, but does not seem
probable in ply compared with last year, to us the new condition of
view of (1) the ability of the planters (at least
equal to the manufacturing interest has appeared to be the con¬
last year) to hold on to their crop,
(2) of the very low trolling fact. An increase in the consuming power of
prices which have ruled during late months and the pre¬ the world of one-third during the ten years ending with
vailing Southern belief for some time in higher rates, (3) 1877, that is from about 2,000 million pounds to 3,000
of the much lower condition of the bayous and navigable
Our telegraph river report of March 14, for
Shreveport, wag wrong.
over
“
*
April
THE
12, 1879 ]
CHRONICLE
pounds, was unnatural and made possible only
under a peculiar and temporary combination of forces.
These have now wholly changed, and influences of an
opposite nature are acting. As a result, there has been
a constant decline in consumption, not month by month,
but year by year, and we have no confidence in any
revival of activity so long as the reorganization of this
industry in Europe is in process. Of course, at very low
prices for cotion,consumption may be pushed; but even
then until labor is more fully employed 100,000 bales
weekly, of 400 pounds each, would appear to be about
the capacity of Europe. To say therefore that the
consumption of Europe for the six months ending with
the first of October will in any event be 125,000 bales
less than last year, is probably within bounds.
These facts and surmises appear to point to the con¬
clusion that unless the invisible supply further increases,
there must be a gradual improvement in the visible
supply, and as the season closes it must compare more
favorably with last year than many writers appear to
million
think.
THE EGYPTIAN CRISIS.
It is not every
magnificent spendthrift who, after
having wasted his substance in riotous living, finds great
bankers ready to come to his aid and great nations
willing to give him every assistance necessary to retrieve
his position.
Such, however, has been the good fortune
of
Ismail
Pasha.
He
has
wasted
a
private fortune
perhaps unequalled on the face of the globe.
by a cruel system of taxation dried up the rich
resources of his country and
reduced his people to a
state of almost hopeless starvation.
Both Great Britain
which
was
He has
and France have
come
his
to
assistance with money
special gifts and special experience.
But he has taken a step now which threatens him with
the loss of. everything.
In order to understand the present situation of affairs
in Egypt, it is necessary to bear in mind the. different
steps by which the existing crisis has been reached. In
1S75 the Khedive found his affairs in a very desperate
and with
condition.
was
men
of
His debts
were
almost confiscation.
enormous,
He invited
and the taxation
an
examination of
863
Into the hands of these
the Khedive puts
the man¬
agement of all the property belonging to the govern¬
ment, of all the property belonging to the two Dairas
---Sanieh and Khassa—and of all the property which
belonged to the members of his own immediate family.Such was the arrangement which came into practical
operation during the course of last Autumn. Satisfied
with it, the Rothschilds of Paris and London offered for
public subscription $8,500,000 of 5 per cent Egyptian
bonds at from 70 to 75.
There was the less difficulty in
disposing of the bonds that the governments of France
and England became responsible for seeing that the
conditions were complied with on the part of Egypt^
Since that date, however, Ismail Pasha has again and
again given evidence of his willingness to break faith.
It is only a few weeks since, by means of a skilfully
contrived plan, he managed to get rid of Nubar Pasha,,
and to have his son and heir apparent, Newfik Pasha,
made President
men
of the Council.
The two obnoxious
foreigners, Wilson and De Blignieres, were still presents
move has been more thorough.
He has swept
out the entire cabinet, substituted natives for foreigners
and proposed an entirely new plan for the management
His latest
of affairs and for the satisfaction of his creditors.
It is not wonderful that France and
England should
indignant. It may certainly be taken for granted
that they will not again make any great sacrifice for the
Khedive’s benefit. They must, however, attend to their
own interests, and with their own interests are bound up
the interests of the land and people of Egypt. The difficult
question for the present is to know what to do with the
Khedive.
There are many suggestions.
The Sultan
may be induced to withdraw the firman which makes
the vice-royalty hereditary in the family of Ismail Pasha^
His uncle, Halim, who disputes with him the right to
the throne, may be placed at the head of the State.
Eventually, the occupancy of Alexandria and Cairo by
British troops, and, if France can be satisfied, the annex¬
ation of the entire territory of Egypt to the British
empire, is likely to be the result.
be
THE
MOVEMENT
AMONG
THE
SOUTHERN
BLACKS.
The movement of negroes westward from Louisiana,
joint commission, consist¬
ing of Mr. Gosehen on the part of England and M. Joubert Mississippi, Georgia, Tennessee, and South Carolina,
on the
part of France, both of them financial experts has now reached a degree of consequence which chal¬
and both commanding the highest confidence in banking lenges attention.
In Tennessee and South Carolina it
and commercial circles generally, was sent out to Egypt. is rather more an uneasy feeling than an actual start as
After examination the commissioners were satisfied that yet, although, as will be remembered, there have been
if the Khedive would come under certain conditions and during the past year efforts made in the latter State to
conform to certain requirements, there was hope for him¬ secure emigration to Liberia.
For a number of years
self and his people.
An arrangement was made, and an evident inclination has existed among the negroes
the Khedive was advised to sell his interest in the Suez of many Southern States to move to the u promised
Canal to England. By this means he was at once put land ” of Texas, and there has been an actual emigra¬
in possession of four millions of dollars. The money, tion to that State, induced by its exceptional fertility of:
however, was soon spent, and the Goschen-Joubert soil. It is reported that the Union, Southern, and Cen¬
scheme, the execution of which had been left to the tral Pacific Railroads, as well as the Atchison, Topeka
& Santa Fe, are offering employment for several thou¬
Khedive himself, completely failed.
Again Ismail Pasha calls for aid, and this time he sand on railroad construction in Utah, New Mexico, and
offers to submit to whatever conditions the great bank¬ Arizona, and that the latter territory offers a particu¬
ers of Paris
and London may deem necessary for the larly favorable location for the blacks. But the move¬
security of their money. Another arrangement is made. ment which has lately become noticeable, not only from
Ismail Pasha consents to retire from all active partici¬ its extent but from the peculiarity of its destination, is
pation in the management of the affairs of the country. that from the upper counties of Louisiana and a few
A responsible ministry is appointed, with Kubar Pasha, in Mississippi into Kansas, via St. Louis.
Making
an old and tried friend of his master, as president of the
allowance for exaggeration, there seems to be no doubt
Council, with Mr. Rivers Wilson as Minister of Finance that from 3,000 to 4,000 negroes have gone to, or have
and with M. De Blignieres as Minister of Public Works. started for, that State by way of the Mississippi an d
his
affairs; and,
as
the result,
a
364
THE
Missouri rivers.
in consequence
of cheating by
causes
cited are,
discouragement
of unprofitable crops and some instances
the whites, and “ intimidation,” of which
must
ever
[Vol. XXVIII.
go, and stay, where it is peculiarly needed,
it may wander and suffer meanwhile.
That
is not in the colder
how¬
place
States, and after this rush has spent
itself, if it has not already done so, as at present seems
from the colored clergy
of St. Louis, in their appeals probable, the emigrants who have not perished by
for aid, and is
naturally and readily accepted as the their own misfortune will probably drift back un¬
true explanation
by those who believe most fully in the noticed.
prevalence of lawlessness in the South ; yet it mu^t be
allowed with great deductions.
There have undoubt- RAILROAD EARNINGS IN MARCH, AND FROM
edly been instances of oppression by cheating and by
JANUARY 1 TO APRIL 1.
actual violence, with great effect
by fear, often imagin¬
There has seldom been a month when the
reports of railroad
ary, for in a sparsely settled country, with slight facili¬
were
various
earnings
more
in
the
results
shown than in the
ties for conveying news except from mouth to
mouth, month just past. There is little
uniformity in these results
the effect of a nameless terror
among an ignorant, timid even among roads located in the same State, or
chiefly de¬
and thoroughly superstitious race need bear no
propor¬ pendent upon the same sort of traffic for their earnings. In
so
„
The
CHRONICLE.
much has been said.
tion to the substantial
The latter receives great stress
for its existence.
reasons
There
has also been
Illinois
find that the Illinois Central and the
Chicago &
Eastern Illinois show a slight increase over March, 1878, while
we
disappointment from low prices of cotton
We think the whole may be summed up, Chicago & Alton, Wabash, and Peoria
crease.
But as to the three roads first
however, with the truthful, although indefinite, state¬ of increase or decrease is so
small that
and low wages.
& Warsaw show
a
de¬
named, the percentage
their
earnings
may be
emigration “fever” is at work. The negro said to be just about the same as in the
corresponding
month
is peculiarly liable to such impressions, for he is
ignorant, of last year. Again, with the Northwest and St. Paul roads
superstitious and credulous—an overgrown child who their earnings vary but little from March of last year. The
most conspicuous percentage of increase is seen on the Atchison
has not yet had time to contend with the
improvident
habits long bred in him, or to learn how to use his lib¬ Topeka & Santa Fe, the Kansas Pacific,. International & Great
Northern, and Galveston Houston & Henderson; while the only
erty.. He is not prudent, and instead of sending forward
roa^s showing an important decrease are the Grand Trunk of
trustworthy persons of his own color to make investi¬ Canada, Wabash, and Peoria & Warsaw.
Some unofficial reports have appeared in print, the truth of
gation, he rushes blindly forward, in obedience to the
instinct of the herd, merely because the movement has which is not affirmed or denied by the respective officers of the
ment that
an
companies. Thus, it has been reported that the Union Pacific
earnings for March show an increase of $138,000 ; that-the
That some alarm has been excited
among the Chicago Rock Island & Pacific
gained $113,000 during the
whites in Louisiana and Mississippi, is evident. There
month of March, of which $59,000 were in the last week of that
been started.
is
no
attempt to belittle the significance of a possible
all we can learn we
the emigrants are
loss of negro labor, although from
are led to infer that in
great part
month.
The net
earnings of the Galveston Houston & Henderson
January 1 to April 1, 1879, are reported at $57,500
in
round
figures,
against $24,300 in the same quarter of 1878.
of the idle class who form no ties and are of small value
The St. Louis & Iron Mountain figures show a considerable
anywhere. This view is perhaps partly confirmed by decrease in
passenger traffic, indicating a smaller movement
the admitted
fact that the negroes
arriving at St. Louis
destitute, the appeal issued in their name
representing them as “ refugees fleeing from a second
slavery;” yet their poverty may be accounted for in
part by the natural improvidence of these neophytes in
sdf-support. A general and permanent withdrawal of
the negroes—not from one part of the South to
another,
which is only natural, but from the South
outright,
which would be very unnatural—would
necessarily be
a
calamity not only to that section but to the whole
are
almost
countrv and the world.
And this for the
reason
that
the negro is especially adapted to labor
profitably in the
cotton and the corn field. Man is not
superior to climatic
influences, and no conceivable development of physical
being or expansion of power through machinery can ever
alter this fact.
and the black
The white
man
under
a
man
a
Southern sun,
Northern one, are alike
trary to Nature, and alike under
the
under
a
con¬
disadvantage, for
What is to be the future of the South,
and how the social and industrial relations between the
races will
adjust themselves, are problems we cannot
same reason.
yet be sure of; but
climate
as
we
unalterable.
may
write down the law of
By the last census the colored
population exceeded the white in Louisiana, Mississippi,
and South Carolina, while in the other Southern States
the preponderance was the other
way, and in the border
States the whites outnumbered the blacks
by five and
ten to one, thus
conforming to this law of climate. The
movement now is
plainly hasty, tumultuous, and unwise,
although probably no expostulation can have any effect
upon it.
It must work itself out, for however we may
deplore the distress and waste thereby needlessly occa¬
sioned, there seems to be no remedy. Colored labor
road from
towards Arkansas and Texas.
$
Occasionally there arises a question as to the correctness of
various statements of earnings which appear in The Chronicle,
compared with other statements which appear in print else¬
On examination of such questions it has been found in
nearly every case that The Chronicle was correct. The pre¬
paration of railroad earnings is by no means an easy task, and
requires the work of an experienced hand, as well as constant
vigilance to avoid errors in the method of compilation, and to
as
where.
obtain the latest and most correct information. Whenever a
reader of The Chronicle discovers any discrepancy between its
figures and those elsewhere published, a note addressed to the
an answer with
satisfactory explanations.
office will receive
GROSS EARNINGS IN MARCH.
1879.
1878.
$
Increase. Decrease.
$
$
532,000
111,924
19,551
1,289,000
344,376
295,367
125,141
19,843
1,228,592
236,633
Chicago & East. Illinois.
67,025
Chic. Milw. & St. Paul..
633,000
1,101,000
29,803
38,445
648,187
330,998
190,134
416,005
58,504
663,639
1,095,884
5,116
30,427
31,069
7,376
A tch. Topeka & Santa Fe
Burl. Cedar Rap. & No..
Cairo & St. Louis
Central Pacific.
Chicago & Alton
Chicago & Northwest.
..
Clev. Mt. Vernon.& Del..
Galves. Hous. & Hen...
Grand Trunk of Canadat
Great West’n ofCanadaf
Hannibal & St. Joseph..
Illinois Cent. (Ill line)...
do
(Iowa lines)
Indianapolis B1.& West..
TnternatT & Gt. North..
Kansas Pacific
Missouri Kansas & Tex..
Mobile & Ohio
Paducah & Elizabetlit’n*
Paducah & Memphis*.:.
St. L. Alt.&T. II. (brc’hs)
St. L. Tron Mt.& South’n.
St. L. Kans. C. & North..
St. Louis & South East.*
Scioto Valley
.' —
Toledo Peoria & Warsaw
Wabash
Total
Net increase
13,217
292
60,403
357,297
697,082
336,020
160,365
402,847
133,562
106,504
100,125
275,281
236,546
165,755
19,536
14,753
38,886
124,878
80,587
122,097
340,951
224,559
8,521
624
48,895
5,022
29,769
13,158
8,684
25,917
21,972
65,670
11,987
2,528
4,490
5,603
344,198
4,384
8,382
299,825
20,363
18,450
108,845
400,808
6,129
8,070,048
7,834,363
48.7,881
235,685
*
Throe weelcs only of March in each year,
t For the four weeks ended March 29.
+
For the four weeks ended March 28
12,921
30.639
163,227
15,046
9,150
43,270
352,580
320,188
68,181
24,579
91,257
338,050
69,212
$
1,031
17,588
62,758
252,196
April
THE
12, 1870. J
GROSS EARNINGS FROM JAN. 1 TO MARCH
1879.
1878-
51,660
3,471,166
995,794
195,555
1,701,000
Chicago & Alton
Chicago & East. Illinois.
Chicago Milw. & St Faul
Chicago & Northwest...
Cl. Mt. V. & Del. & brcks.
Galves. Hous. & Hen
Grand Trunk of Canadat
Great Weat’n of Canada}
Hannibal & St. Joseph..
Illinois Cent. (111. line)
130,964
2.180,269
182,393
2.036,357
3,258,632
86,795
102,171
2,29S,144
1,059,791
1,214,030
460,225
1,245,963
321,317
264,096
431,241
788,017
419,505
1,270,645
401,810
319,981
347,740
637,732
634,692
626,537
74,375
2,998.944
83,288
..
do
(Towalines)
Indianapolis Bl. & West..
Internat’l & Gt. North..
Kansas Pacific
Missouri Kansas & Tex..
Mobile & Ohio
Paducah & Elizabetht’n*
Paducah & Memphis*...
St. L. Alt.&T. H.(brc’lis).
St. L. Iron Mt. & Smith’n.
St. L. Kans. C. & North..
St. Louis <fc South East.*
Scioto Valley
Toledo Peoria & Warsaw
Wabash
613,869
5 IS,827
62,138
37,730
978,738
22,722,261
*
-February .-
111,186
335,357
Net earnings
Sioux City & St. Paul—
Gross earnings
Operating expenses
259.688
3,507
28,793
117,875
154,239
40,720
24,682
80,493
55,885
83,501
150,235
20,323
107,710
12,237
11,184
21,574
35,267
44,095
1,988
20,834
70,401
103,624
23,049,2521,177,1671,504,158
326,991
Three weeks only of March in each year.
t January 1 to March 29.
GROSS EARNINGS, EXPENSES AND NET EARNINGS.
The statement below gives the gross earnings, operating expenses and
net earnings for tbeTnonth of February, and from January 1 to March 1,
of all such railroad companies as will furnish monthly exhibits for
II..——TThhee
earnings
$
$
84,689
23,865
54,016
10,835
17,476
30,673
31,280
20,724
lr?,716
1-,716
28,176
14,376
42,672
38,264
54,084
33,357
2,005
13,800
4,408
20,727
35,105
61,759
72,256
16,976
23,221
33,898
121,775
53,492
18,129,
38,538
38,358
68,283
The following January figures have but recently come to hand.
-
Burl. & Mo. Riv. in Neb.—
Gross earnings
Operating expenses
Net earnings
Dakota SouthernGross earnings
Operating expenses.
$
our
1878.
-Jan. 1 to Jan. 31.1879.
1878.
132,698
62,077
$
98,377
42,068
$
132,698
62,077
98,377
42,068
70,621
56,309
70,621
56,309
19,705
8,655
16,430
7,907
19.705
8,655
16,430
7,907
11,050
8,523
11,050
8,523
Grand Trunk of Canada-
In
January .-
1879.
$
£
£
£
153,662
121,146
154,023
122,170
153,662
121,146
154,023
122,170
32,516
31,853
32,516
31,853
£
QUESTION IN GREAT BRITAIN.
we referred to the adoption by the-
article of last week
70,260
117,935
82,204
231.345
151,449
260,472
183,791
51,191
35,731
79,896
76,681
97,277
65,999
147,196
96,588
214,639
140,413
312,608
191,454
31,278
50,608
74,226
121,154
chair.
982,377,
558,372
911,150
2,087,475
1,956,617
555,333
1,147,485
1,121,133
424,005
355,817
939,990
835,484
24,496
24,557
27,212
23,771
Loss 61
3,441
-February.
1879.
v,—Jan. 1 to Feb. 28
1878.
$
121,451
Burl. Cedar Rap.ifcNorth’n—■
Gross earnings
Operating exp. and taxes..
Net
41,141
-Jan. 1 to Feb. 28.1879.
1878.
81,808
50,528
27,130
Gross earnings
Expenses
1878.
Liverpool Chamber of Commerce of a resolution in favor of an
agreement for the remonetization of silver. At
the present time this question, according to our view, over¬
shadows every other in importance, both in regard to the trade
of this country and of Europe. We consequently give up much
space to the details of the proceedings of this meeting, which
we copy from the Liverpool Post.
It was held on the 25th of
March, being the monthly meeting of the Liverpool Chamber
of Commerce, Mr. W. 6. Forwood, the President, occupying the
publication:
Expenses (incl. extraord’y)
$
37,965
Net earnings...
Southern Minnesota-
THE SILVER
} January 1 to March 28.
Atlantic Miss. & Ohio—
Gross earnings
1879.
St. Paul & Sioux CityGross earnings
Operating expenses
$
151,057
37,237
13,157
48.914
1,025,770
843,253
239,892
65,737
263,7S8
Total
”7,802
114,118
1,061,037
799,158
237,904
44,903
334,189
1,082,362
135,692
Net decrease
$
576,124
654,850
437,749
43,858
3,320,109
958,557
1,230,974
326,563
365
31.
Increase. Decrease.
$
$
Atch. Topeka & Santa Fe
Burl. Cedar Rap. & No..
Cairo & St. Louis
Central Pacific
CHRONICLE
1879.
.
$
1878.
$
Chicago Burl. & Quincy-
international
The special committee appointed by the council on the 24th February
last, to consider if any, and what, remedial measures might be taken for
the amelioration of the present mercantile and manufacturing distress,
in so far as it might be caused and intensified by the discrediting of silver
as money, submitted the following report:—
The committee determined to prosecute their inquiries under separate
branches, and they took as the first branch of inquiry-^
Effects of the Discrediting of Silver on Our Commerce
Industries.—After full deliberation and discussion, the following
conclusions were unanimously arrived at:—1. That the recent shrinkage
in value of the world’s silver money, measured in gold, is very large, and
there is every reason to fear that, 'with the prospect before us, the depre¬
ciation will continue to increase. 2. That there has besides been much
diminution in the value of investments of English capital in the public
and
Gross earnings
Operating expenses
44,427
24,043
30,372
23,400
92,519
50,271
71,102
49,678
earnings....-
20,384
6,972
42,248
21,424
earnings
Working expenses
311,000
227,500
313,000
276,100
83,500
36,900
241,315
150,001
205,833
138,336
306,703
Net earnings
91,314
International & Great North.Gross earnings
147,326
80,955
Operating expenses
67,547
195,358
112,120
69,626
309,144
168,442
42,494
140,702
250,324
148,126
172,995
138,963
447,066
102,193
34,032
116,754
13,225
12,758
17,615
12,307
28,580
23,892
467
5,308
4,688
10,159
158,034
91,563
155,771
92,353
315,312
180,728
333,577
66,471
63,418
134,584
142,170
20,073
29,241
27.595
Deficit 9,168
11,866
237,000
180,507
132,365
449,748
133,123
281,054
401,003
270,885
103,877
48,142
168,694
130,118
339,161
226,578
341,318
192,256
673,190
459,434
716,839
404,831
112,583
149,062
213,756
312,008
45,749
36,533
43,841
37,134
90,677
73,576
92,796
77,936
9,216
6,707
.17,101
14,860
28,720
21,798
26,550
20,671
55,254
40,811
50.857
6,922
5,879
14,443
8,531
14,764
12,334
9,737
25,778
19,747
25,039
20,140
2,597
6,031
4,899
Net
Great Western of CanadaGross
Net earnings
Houston & Texas CentralGross earnings
Operating
exp.
and taxes..
Net earnings
Kansas Pacific—
Gross earnings
66,371
f
502,061
•
Expenses
Net earnings
Memph. Pad. & Northern—
Gross earnings
Operating expenses.
Net earnings
Nashv. Chatt. & St. Louis—
Gross earnings
Operating exp., incl. taxes
Net earnings
330,312
Ogdensburgh & L. Champ.—
Gross earnings
Operating
expenses
Net earnings
Philadelphia & ErieGross earnings
Operating expenses
...
Net earnings
St. Louis Iron Mt. & Sout’n—
Gross earnings
Operat’g and general exp.
Net
earnings
445,085
309,765
exchanges in the future largely prevents the further investment of
English capital in the public funds of silver-using countries, or in rail¬
ways, industrial enterprises, and commercial credits. 6. That the friction
247,615 and harassment now attending business with silver-using countries,, as
146,530 India, China, Java, Austria, Chili, Mexico, and others, naturally lead
merchants to curtail their operations in the export of our manufactured
101,085 goods, and to restrict the employment of English capital in such business.
7. That this is a most serious question for India, which many believe to be
362,451 so impoverished as not to be able to bear increased taxation. 8. That the
276,809 depreciation of silver seriously affects the power of silver-using states to
purchase English manufactures, and leads to increased taxation, thus
85,642 further curtailing the trade which has hitherto been carried on in Eng¬
lish commodities. Having arrived at conclusions so serious, bearing so
34,161- directly, as they do, on the present mercantile distress, your committee
135,320
24,002
191,407
15,729
St. L. & So.East.—St.L.Div.—
Gross
earnings
Operating expenses
Net earnings.
St. L. & So. East.—Ky. Div.—
Gross earnings
Operating expenses
Net earnings
St. L.& So.East.—Tenn.Div.—
Gross earnings
Operating expenses
Net earnings
10,544
4,220
.
funds, railways, &c., of silver-using countries. 3. That we are now' com¬
pelled to look upon the silver of the world as in large measure cut oft
from its previous sphere of usefulness as one of the two agents for the
liquidation of international indebtedness. 4. That the serious diminution
of the world’s money, caused by the disuse of silver, may, in the future,
lead to frequent panics, through the inadequate supply of gold for the
5. That the uncertainty regarding the course of
world’s wants.
42,326
next resolved to take into consideration—
Main Facts Regarding the Production
Precious Metals During the Present Centurv.—And
the following conclusions thereon :—1. That
of
the
Two
they arrived at
early in the present century
supply of silver from the mines of the world greatly predominated,
being in the proportion of about three of silver to one of gold. 2. That, on
the other hand, from the year 1848, .and for twenty years thereafter, the
supply of gold greatly augmented, and largely exceeded that of silver. 3.
That during recent years the supply of gold has fallen off very much,
viz., from about £33,000,000 in 1852 to £19,000,000 per annum at the
present time, while the supply of silver has augmented considerably. 4.
That, at the present time, however, the supply of silver does not equal
that of gold, the yield being about £14,000,000 of silver to less than
£19,000,000 of gold. Your committee, consequently, became impressed
with the conviction that the recent fall in the price of silver cannot bo
attributed to excessive production. After further mature deliberation,
they adopted the following resolution:—“That the recent great fall in
the price of silver is principally to be attributed to the suspension of free
mintage in France and the States of the Latin Union, consequent upon
the adverse action of Germany in demonetizing silver.” To this reso¬
lution there was one dissentient, but the dissent was based more on its
form than on its substance. At this stage of their inquiry it seemed to
be incumbent on your committee to ascertain, and put on record, their
conclusions as to the means by which silver had, for so long a period
previous to the year 1875, been kept, with very unimportant oscillations,
in such a relation to gold as to make it possible to speak of a par of
exchange between the two metals; and the following resolution wras
unanimously adopted by them as expressing the result of their delibera¬
tions under this head:—“ That the bi-metallic system of Franco and the
other States of the Latin Union, in conjunction with free mintage, prior
to 1875 tended to produce an equilibrium between' the two metals, and
to give stability to all exchanges between silver-using countries and
England.” Your committee having thus arrived at clear and strong
convictions as to the magnitude of the evil, and the serious consequences
to our commerce and industries, resulting from the discrediting of silver
by the nations of Europe; having ascertained also what they believe to
be the real cause which has brought about the discrediting of silver
as money;
and having recognized the beneficial action of the French
the
366
THE CHRONICLE
bi-metallie system so loner as it was in
operation,—then proceeded to the
consideration of the last, but most important,
branch of this inquiry,
viz:—
III.—What Remedial Measures Ought Now to re A doited so
that Silver May Again
Perform, Internationally, Its Proper
Function as Money.—The following resolutions contain the
result of
their deliberations under this head, and it is
especially to these, in their
important bearing on the present state of the monetary question, and to
their effect on Indian Finance, and on the
trade of England, that the
committee desire to call the attention of the council. 1. That a fixed
ratio between gold and silver, in
conjunction with unlimited freedom of
mintage and the recognition of the two metals as full legal tender money,
question, I am persuaded that there is now a preparedness of the
public
mind to consider dispassionately this whole
subject which did not exist
two or three years ago. It will, I
think, ho found by her Majesty’s
Government that, in sending delegates to the recent Paris
Conference
with instructions to take no part in
any vote
calling in question the
legal tender, they acted under an
as
to the strength
of public opinion in
letting
things take their chance.
With the
maintenance of
gold
impression
erroneous
the
direction
of
sole
as
convictions
generally supposed to prevail, it was a 'natural-although, I think, a most unfortunate—policy, seeing that it has
only tended to intensify commercial distress and to render the
would, if. adopted by the majority of the leading
monetary Powers,
including England and India, bo adequate to restore silver to its former
international value
(Tor* XXVIII.
2. That it is desirable that our Govern¬
financial position of India all the more
for securing an international agreement, by
hopeless.
My expectation
which silver may be restored to its
legitimate
share in producing now is that we can show to Her Majesty’s Ministers so clear and em¬
metallic currency sufficient for the wants of the world.
phatic evidence of preparedness on the part of this mercantile commun¬
In order to give practical effect to their
conclusions, your committee
unanimously recommend that the result of their investigations, together ity to face any well-considered measures in the direction of our resolu¬
with the resolutions adopted, shall, without loss of
time, be placed in tions, that their own convictions may be turned in the same direction as
the hands of her Majesty’s Ministers.
our own, if not
Your committee would, in
already running in the same line, and their hands be
conclusion, refer to the fact that nearly all
the members of your special committee
strengthened
in undertaking the negotiations which we deem to be
attended the meetings with
regularity, and were deeply impressed with a sense of the great import¬ essentially
necessary for the maintenance of our position as a great
ance of this
inquiry. They desire also to place on record the unanimity commercial and
with which resolutions so
manufacturing nation. Let it be borno in mind that we
weighty have been adopted. At the com¬
mencement of their investigations three was manifest much
are proposing no stupendous
aversion
novelty. Nay, rather let it bo kept in view
from adopting conclusions which so
directly impugn the wisdom of our that we are suggesting a return to the old and safe conservative
paths
monetary legislation of 1816, by which gold was made sole legal tender in
regard to “money.” We are no innovators. The innovators were the
money in England. If the free mintage system of France had not been
suspended, and if monetary legislation on the Continent of Europe
had gold mono-metallic propogandists of 1868, who are accountable for all
not been made, like our
own, directly adverse to the use of silver as
the recent dislocation and
mischief; and I regret to say that a few English¬
money in the world, your committee would not have been called on to
men,-who certainly'could not have dreamt of the
consider the wisdom or unwisdom of our own
consequences of their
position.
The
necessity of
the cause, however, lias
compelled us to face the question in all its bear¬ propaganda, were among the number, if they were not the chief instiga¬
ings. Natural antipathy and aversion have
yielded to conviction, and tors of the movement. They are now alarmed at the success of their
your committee would here mention the fact that some of their
number,
who at the outset were
teaching, and are fervently praying that there may bo no further de¬
disinclined to the remedial measures which
were
ultimately and unanimously recommended, became at last their monetizing of silver in the world. Lord Beaconsficdd referred to the
warmest supporters. Your committee are
aware that the remedy
impending dislocation and the evils likely to result—almost with pro¬
proposed is not generally believed to be in
harmony with the opinions phetic vision—on the 19th
which have for many years prevailed in
November, 1873, when he was installed Rec¬
England.. They are persuaded, tor of
the Glasgow University. He then
however, that if thoughtful men throughout the country will deliberately,
said, at the evening banquet:—
and without prejudice, consider the
“I attribute it to the
wffiole question, connected as it is
great monetary disturbance that has
ment should
adopt
as
money.
measures
with
the long-continued mercantile
and manufacturing distress, their
conclusions will eventually come to be, in most
instances, in consonance
with those of your committee.
is now to
A letter-was
time to good results. It seemed to him that
what
to educate the commercial miud on the
They had been trained
guine that that belief
wanted
was
subject of the double standard.
single standard, but he felt san¬
disappear before an intelligent and careful
to believe in
would
was now
a
examination of the subject.
Mr. Stephen Williamson, chairman
of the special committee, said:—In
submitting the report of the special committee, and placing it in the
hands of the council, I feel that we are
dealing with a question of no
ordinary magnitude. I can assure you that the committee have felt
the very great importance of the
inquiry they have just completed. The
council will recollect that when I
pressed the
necessity of this inves¬
tigation upon their attention, I did so under the
strong conviction that
the discrediting of silver as
money had much to do with the depressed
condition of
our
tee completed
trade and
our
industry; and now that
investigations, I can appeal
whether, if our conclusions
then made have not been
reflect on the mass of
are
any way near the
we
have
as a
commit¬
to the council to say
truth, the allegations
fully verified.
No dispassionate mind can
injury inflicted on our commerce, as borne out by
the first series of conclusions in our
report—under the first branch of
inquiry—without acquiring a deeper sense of the evils
resulting
from the discrediting of silver than
probably had ever been realized
before. And now as to the remedial measures
we propose!
The commit,
tee, with entire unanimity, expressed a fervent desire to
see silver
restored to its former joint sway with
gold in the world; and the resolu¬
tions they adopted, with almost absolute
unanimity, declare that in order
to restore silver again to the
performance of its proper functions as
money, it is essential that a fixed ratio between gold
and silver, in con¬
junction with unliufited freedom of mintage, and the
recognition of the
two metals as full
legal tender money, should be adopted by the lead¬
ing monetary Powers, including England and India, and
that it is
desirable that our Government should endeavor to
carry these proposals
into effect by taking measures for
securing them by means of an interna¬
tional agreement. Such are the
very important resolutions of the special
committee, and they unanimously recommend that the result of their
investigations, together with the resolutions they adopted, shall, without loss of time, be placed in the bands of
her
our
Majesty’s Ministers.
The
council, I trust, will give us credit for having
carefully weighed the
importance of these resolutions before placing them on record.
Aversion
from tampering
unnecessarily with their currency system is a fitting
and creditable state of mind for
any great mercantile community, and
the council will not, I am
sure, believe that so unanimous a consensus of
opinion in favor of the measures we propose would have
emanated from
a committee which I do
not err in
designating as a highly influential one,
unless they had, after due
deliberation, concluded that these remedial
measures were the only
adequate ones to
accomplish the great object
we have in
view—namely, the restoration of silver to the performance
of its wonted function as
money in the world. It would be tedious to
recapitulate the various stops of our investigation
leading up to these
weighty resolutions, or to refer to the objections that are
usually made
to our proposals,—objections
which were fully discussed by us
during the
progress of our inquiry. My own impression is that the
whole of these
difficulties and objections are as the light dust of the
balance when weighed
against the enormous advantage to the world which would be
obtained by
the rehabilitation of silver as
money by the
including England and India.
and from what I have seen
nity, Manchester,
leading monetary Powers,
our own
deliberations,
recently in the great neighboring commu¬
From the course of
as to the formation of
public opinion
on
tftia vital
certain
tjegree acting
very
injuriously
ou
occurred, and
trade—I attribute it
to tbo great changes which our
governments in Europo are making with
reference to our standard of value. I attribute the
present state of affairs
very much to a Commission that was sitting in Paris at the time of the
great exhibition. That was a commission, the
object of which was to
establish a uniform coinage
throughout the world—a very beautiful idea
which could do no great harm, but difficult to attain.
The Commission
STEPHEN WILLIAMSON, Chairman,
and Vice-President of the Chamber.
read from Mr. Edward J.'
vi’ence, apologizing for his
inability to attend, and stating that he li
:aken a deep interest in the
proceedings of the Silver Committee, wh. !i, he hoped, might lead in
a
never came to a definite recommendation
on this subjeot,
but they did on
another subject, and that was—that no time should bo lost
by any of the
States of Europe in taking steps to establish a imiform
gold standard of
value.” His lordship (then Mr. Disraeli) proceeded to
point out that it
was the greatest delusion in the world to
attribute our commercial pre¬
ponderance
or
prosperity to
having
gold standard, and then warned
great convulsions in the
money market—not occasioned by speculation or any old cause, but by a
new cause with which we are not
yet sufficiently acquainted.”
He
added: “When countries inundated with silver are
trying to get rid of
it, convulsions must come, and no one would be able to form an
adequate
his hearers that
wo
our
a
must be prepared “ for
idea of tbe monetary arrangements of the times in which he lives if he
omits from his consideration the important
subject to which I have
called your attention.” I wish I could
always endorse with equal ad¬
miration all the utterances of his
lordship in past and in recent days.
Those which I have quoted impress me
profoundly with a sense of his
eminent ability and far-seeing perspicacity. They afford some
hope that,
presiding
as he now does over the councils of this great nation, he will
bo able to master the
monetary evils of which he presented even
prophetically so clear a diagnosis so long ago as the year 1873.
It is true that our legislation of 1816 fixed
gold as solo legal tender in
England, and that until 1875 we suffered no great inconvenience. Our
neighbors on the Continent had an equilibrating process in operation
with free mintage, which ensured for us the benefit of their
fixed ratio,
with very unimportant oscillations. The oscillations were
really caused
by our own action, for, having no reserves of silver ourselves, we had
occasion from time to time to sweep
the Continent of her silver currency,
creditable to some of our controversialists to think that
'these oscillations caused by ourselves are taken by them as evidence of
the imperfection of the French fixed ratio and free
mintage system now
suspended. It is perfectly reasonable that France should, in 1875, have
and it is not very
assumed that attitude of suspension and
expectancy,if the world is really
bent on discarding silver as money. We are,
however, getting our eyes
opened to the ruin and misery such an insane course would bring
upon
trading nations, and, therefore, our language is now of rehabilitation,
and not any longer of
discarding and discrediting the metal tfhich, in
conjunction with gold, has been for thousands of years so serviceable to
mankind. It must not be supposed that in the
long interval between
1816 and 1875 there were no advocates of the
proposals we now lay
before you, and no fears as to the inconvenience that would some
day
the
arise from
EnglamLhaving her
currency based on one metal instead of
tbe two.
In the Times of the 25th of February, 1830, reference will bo
found to the opinions of Alexander
Baring, M. P., a name known in
commerce as in Parliament.
Baring was a bi metallist, and proposed the
issue of silver crowns,
containing 15^2 times the woiglit of meu.
Ynshillings in gold. Sir Robert Peel was convinced that
England would be benelitted by a reserve of silver bullion, and.
tained in five
in
1844,
influenced
bank to hold
a
by
bi-metallic
sympathies,
ho
authorized the
fifth of its stock of bullion in silver instead of
Again, practical inconvenience
found
by
gold.,
merchants who had.
large silver remittances in the crisis of 1847, which they required to
avail of immediately for meeting their pressing obligations. A deputa¬
tion of London bankers, merchants, and others thou approached Lord
Overstone, praying for the introduction of a bi-metallic standard, and
for a power of relaxation in the working of tho Bank Act. Lord Over¬
stone, in his reply, suggested that merchants who felt aggrieved could
send their silver to the Continent, where it was legal currency, and so ex¬
change it for gold. The equilibrating process was open then. It is shut now
was
ArRiL
gainst
THE CHRONICLE.
12, 1879.]
Silver is practically dethroned.
Our aim and object is to
of the two agents for the
liquidation of international indebtedness. Unless this is done, I greatly
fear we will not, for a very long period, see better times. Nay, I believe
the pressure and distress will become intensified. Property of all sorts
us.
restore the metal to its ancient
as
well
as
you
at
once
to the return of that prosper¬
Manchester Guardian it is stated that for some time past a serious differ¬
ence of opinion has existed between German holders of Austrian rail¬
debentures and the Austrian companies as to whether the coupons
paid in gold, and so far had the dispute
proceeded that through carriages and trucks of Austrian railways found
on German lines were actually impounded until released
by gold. It is
estimated that the amount of foreign capital invested in Austrian
debentures, for which payment in gold is claimed, amounts to £68,000,000, which, at 5 per cent, gives £3,400,000 interest. Calculating the
depreciation in silver at only 15 per cent, here is a surcharge upon Aus¬
tria of over £500,000 per annum under one head alone of international
indebtedness. Again, the Vienna Chamber of Commerce has lately called
way
of these companies should be
the attention of the Austrian Minister of Commerce to the fact that
customers.
Mr. Robert Gladstone, in
and instantly redeem India from bankruptcy, and
ity which we have all so long been anxiously expecting and hoping for.
In conclusion, I beg to move that the report of the special committee be
adopted, and that it be immediately placed in the hands of her Majesty’s
Ministers. (Applause.)
Mr. H. Coke, in seconding the motion, said:—I would like to notice a few
instances in which the derangement of the pre-existing financial system
has caused much trouble, and, taking only what is to be found in this
morning’s papers, what do we see 1 In the commercial notes of the
,
The only permanent cure wrould be the adoption of a bi¬
system throughout the great commercial countries of the world,
by which silver and gold wTould become legal money at a fixed ratio of
value.
In such case not only India but all other
silver-using States would
be able to buy from England, and, unfortunately,
thoy are her principal
On the
silver, in conjunction with the leading monetary
you remove one of the chief hindrances
the future.
metallic
as one
the reward of labor must continue to fall in value.
other hand, rehabilitate
Powers,
position
367
supporting the motion, said that the prin¬
ciples the committee recommended in their report would insure a creditor
being able to pay away again what he received from his debtor as of
exactly the same value as that for which he received it. Silver thus
became a standard of equal value with gold throughout all the States
that came into the Union. He was thoroughly converted from his
pre¬
vious prejudices. He heartily concurred in the report, and believed it
was the only practical remedy that could be
adopted.
Mr. Meade-King regretted he could not concur in the conelusious of
the committee. He entirely agreed with the committee iu the main facts
first elicited in that inquiry, namely, that silver had fallen
very largely,
and had produced, in a great variety of ways, a great deal of
distress,
and thiit that evil still existed and was still producing distress. Neither
did he see how that great evil could remedy itself, unless some
change
made; but then came the second question: how was it to be remedied?
that question he differed from the committee, and he contended
that if the French bi-metallic system were adopted in England, they had
no reason at all to expect that in this
country, therefore, the currency
would be jointly gold and silver. The only expectation they had a right
was
It
was on
to look to
that it would be
a mono-metallic
currency. The bi-metal¬
attained the object they desired, namely, that two
metals should simultaneously pass in the country in payment of debts,
and he failed to see how an object that had never been attained in the
past could be accomplished in the future by the adoption of such a sys¬
tem. He held that two standards were an impossibility, and it had been
proposed as a remedy that there should be only one standard composed
of two metals.
He contended, even if nothing whatever were done,
that,.
after a while, when other countries had settled their monetary matters,
lic
was
system had
never
by
regulation of the United States Treasury, April 17, 1878, the United
States Consuls were instructed in granting certificates to Austrian
exporters to calculate the invoice value of the goods at the Austrian
gulden to 45*3 cents gold, whereas the chamber showed that the gulden
was worth only 41*79 cents gold, so that
English goods, of which the silver would then subside into its real relative value as regarded gold,
invoices would be calculated in gold, had an advantage of about 8 per
and when it had done that the oscillation that would then take place
cent in passing through the American Custom House. If the
price of between gold and silver would be no greater than it was before the year
silver could be counted upon to remain at the same ratio to gold, Aus¬
1850. He agreed in a large measure with the report, but did not believe
trian and American trade would, no doubt, adjust
itself to the ratio of the method proposed by the committee was one that could be logically
41*79 cents gold to one Austrian gulden; but looking at
the fluctuations maintained for securing the purpose they had in view.
.that have
taken place
within the last three years, there is
Mr. E. K. Muspratt, while agreeing with the arguments of Mr. Meadenothing to show where even an approximate ratio will be established; King, said that as he had not attended the
meetings of the special:
and therefore the negotiations of the Vienna Chamber of Commerce
may
committee, he was not prepared to go fully into the question on that
have to be renewed year by year to meet the variations in the ratio
occasion.
between gold and silver.
But the most important instance of finan¬
The motion, after being supported by Mr. John Patterson and Mr.
cial
difficulties
about
brought
disturbance of
by
this
the
A. Balfour, was put to the meeting, and carried unanimously; and, on
monetary system of the world which we have before us at this moment
the motion of Mr. Stephen Williamson, a deputation, consisting of
Messrs.
is that of India. The Budget recently published announces a loss
by Smith, Gladstone, Coke, Patterson, Brown, Williamson and Forwood, was
exchange of nearly 4 millions sterling for the year ending 1st April, 1878, appointed to go to London, and place the report iu tho hands of her
and the increase of the public debt for three years
is 20 millions.
Majesty’s Ministers.
How much of this is due to exchange ? We know that it is
It was also resolved to forward a copy of the report to tho Manchester
£3,952,000
for the last of the three. I have not the figures by me, but I believe
Chamber of Commerce, asking their co-operation.
that at least 10 millions out of the 20 is due to the
discrediting of silver.
On the motion of the President, seconded by Mr. W. S. Barrett, a cor¬
This was no fault of the Indian authorities. When the
country was poor dial vote of thanks was tendered to Mr. Williamson and the other mem¬
she borrowed money in England in the firm belief that her silver
would
bers of the committee for the great time and care they had devoted toretain the same value in the world that it had
always held. Some of us the consideration of the question.
in this room are now enjoying our 5 per cent paid in
gold for investments
The council then rose.
in Indian railways. Again, in 1858 a form of
government was forced
The cable informs us that the deputation of the Chamber,.
upon her by the English Parliament which necessitated the remittance
of large sums of money for what are called home
appointed as above, was received by Sir Stafford Northcote,.
expenses. What
with interest on these original loans, home expenses, and
family remit¬ Chancellor of the Exchequer, and Lord Cranbrook, Secretary
a
tances of Government
servants, a sura of about 20 millions sterling per
has to be provided in this country. India can
only pay in silver.
If the silver is worth only 2s. 6d. per
ounce, instead of 5s., she must find
the equivalent or stop payment like other
of State for India, on
it stated its object to
Friday last. Through its chairman,
be to direct attention to the serious
silver-using States have done; depreciation of silver and its damaging consequences to trade.
but it is through no fault of her own.
Germany and France between Sir Stafford Northcote said the question was very important
them began the disturbance, and w hen England had an
opportunity— and very complicated ; that any change in the laws affecting
when she was invited by other great commercial nations to
join in the, the
currency of Great Britain must be considered with extreme
rectification of a grave error—when she was asked to
give her counte¬
care ; that it cannot be undertaken without a
nance to a measure which w ould have restored
knowledge of
India—once called the
brightest jew*el of the English Crown—to her former position of wealth what the views of other countries are likely to be regarding it
and comfort, Mr. Goschen,
speaking in the name of this country, that the question already had been, and was still being
very
declared that other nations might continue the use of
silver, but that
by
the
with
reference
to
carefully
considered
Government,
both
England would recognize only gold; but the selfishness, nay the cruelty,
the
relations
between
of this treatment of India is further exemplified
England and India and its more general
by a correspondence on
the Indian import duties which, strange to say,
could
aspects.
He
not
say more at the present stage of the
also
this
appears
iu
day’s
Manchester papers. Mr. Raynsford Jackson,
writing to the Secretary of matter, except to assure the deputation that their views wrould
State for India, on behalf of Lancashire
manufacturers, demands that certainly be taken into consideration in the
study which the
India should be compelled to buy Manchester
goods duty free. The other
Government
was now giving the whole subject.
markets of the world being inaccessible because of the wall of
annum
protection
with which
they
surrounded, India must be made to buy. She has
only silver money with which to pay; then give more of it, take off the
duties, borrow when she can only buy Manchester goods. Now, sir, here
is a great difficulty in the way of trade. It is
impossible that India can
continue to purchase from England at the rate
expected when her
are
money is discredited 20 per cent, and may be 30 per cent, if
nothing
is done to arrest the present decline.
The only wray by which the
remittance of 20 millions can be made is for the difference between the
exports and imports of the country to provide that sum. Either the
gold must increase or the value
value of Indian exports payable in
of imports payable in silver must
of
20
millions; and from
that the latter
of this
course
diminish, so as to leave the margin
knowledge of India I should predict
my
would be the most probable.
If the manufacturers
country wish to retain India as a market for their productions,
they must assist in supporting the value of the rupee. There are
temporary measures to be found, such as arresting the coinage of sib
ver in India and
providing council drafts as a means of remittance, or
raising loans in this country so as to diminish the drawings; but these
could only be temporary, and would lead to
greater embarrassments in
Lafayette Muncie & Bloomington.—The sale of this rail¬
road, from Muncie, Ind., to the Eastern Illinois State line, was
made April 3 on a foreclosure by the bondholders. Only one
bid was offered, that of E. H. R. Lyman, 0. R. Cummings, Daniel
P. Eells and J. S. Newberry, trustees for the bondholders, and
it sold at $1,413,000.
Ohio & Mississippi.—The Reconstruction Committee of the
Ohio & Mississippi Railroad Company have adjourned without
reaching a final conclusion. The Receiver finally paid the debt
$100,000 to the National Trust Company, and took up the
$400,000 bonds of the Springfield Division, which have been
advertised for sale by William J. Best, as Receiver of the
National Trust Company.
of
Painesville & Youngstown.—A dispatch from Cleveland, O.^
April 4, said the Painesville & Youngstown Railroad was offered
for sale at auction, but no one was ready to bid. The road
will now have to be appraised.
368
THE CHRONICLE.
t^Xourtavij! ©nnmwvcial ^tigXisTt Incurs
KATES OF EXCHANGE AT LONDON AND OX LONDON
AT LATEST DATES.
EXCHANGE AT LONDON—
March 21.
On-
Time.
Amsterdam.
Amsterdam
.
Rate.
Short.
3 mos.
12.134@12 234
12.43b® 12.478
ii
Antwerp
Paris
Paris
Hamburg
20.62
20.62
20.62
ii
a
a
St.Petersb’rg
11.95
a
ii
Lisbon
90 days
New York...
Alexandria
60 days
Bombay
ii
Calcutta
Hong Kong
Mar
Mar.
Mar.
Mar.
21
21
19
21
Mar. 21
Mar. 21
Mar.
Short.
ii
ii
3 mos.
ii
Short.
ii
ii
21
51lii6051l316
[Mar.
ls.6rt16d.®63i(l.
Is.6rti0d.06:^d.
....
[From
our own
Mar.
Mar.
>Iar.
Mar.
Mar.
20.491.2
491*2
20.491*2
20
2313S2
117.30
21 60 days
19 3 mos.
20 6 mos.
ii
20
ii
19
a
19
£
27.60
27.60
4.87
974
26,336,326
24,644,606
to liabilities
Bank rate
Consols
4534
46*2
3*2 p. c.
933«
50-93
2^ 1>.
av.
price.
35-96
c.
2 p. c.
97
39s. 7d.
49s. 6d.
it is almost certain to assume more distinct
proportions.
Gold and notes continue to return from
Provincial circula¬
increase this week of nearly <£772,000 in
This amounts now to
£20,073,685, against
142 at the present time. These are facts
clearly demonstrating
the easy condition of the
money market, and there are yet no
indications of any probable demand for
money
extensive to
2 p. c.
9514
93^2
51s. 3d.
638(1.
1034d.
6d.
lOd.
a
recent
42s. 9d.
6lfd
failure, it is proposed to
the
day
following negotiation; and, in order to make this more practic¬
able, it is suggested that the buyers and sellers of
foreign bills
shall meet in future on Tuesday
and Thursday, instead of Tues¬
day and Friday in each week. The alteration to Thursday is
suggested because Saturday is to some extent a half-day in the
city, and because Friday would be a more convenient day for pay¬
ing for Thursday’s drafts. This arrangement will be carried
out next week.
chants met
on
on
Another reform of late has been that mer¬
’Change at three instead of four o’clock each
afternoon, except Saturdays, when no meeting takes place.
There has been scarcely any demand for bar
gold for export,
but further amounts of sovereigns have been withdrawn from
the Bank for transmission to the
Cape of Good Hope and South
America. The arrivals of gold have been
considerable, having
been about £772,000. The sale of Council drafts
having passed
off very
unsatisfactorily, the rate obtained being only Is. 6%d.for
a portion of the amount
offered, the silver market has been very
dull, and the price of fine bars has declined to 48%d. per ounce.
The sale of Council bills is to be further
reduced, only £250,000
being advertised for next Wednesday. The market for Mexican
dollars has been dull, and the price is
decidedly weaker. The
following quotations of bullion are from Messrs. Pixley &
Abell’s circular:
sufficiently
GOLD.
Bar
Bar
gold, fine
gold, refinable
Spanish doubloons
s.
d.
8.
77 9 ©
77 10^®
73 9 ®
73 8*2®
76 334@
76 3*4®
per oz. standard.
per oz. standard.
/.
per oz.
per oz.
per oz.
per oz.
;
South American doubloons
United States gold coin
German gold coin
SILVER.
,
Bar silver, fine
Bar silver, contaiu’g
Mexican dollars
Chilian dollars
5
per oz.
grs. gold.per oz.
d.
standard, nearest.
standard,
do
ernment has had to make for various
purposes.
for money
throughout the
week has been
exceedingly quiet, and as the week advanced it appeared to
diminish. Increased desire was shown to
lend, the result being
that the rates of discount showed increased
weakness. The
supply of bills becomes smaller, and the best descriptions are
much sought after. The
following are the present quotations
for money :
Per cent.
Bank
rate.
Pr. ct.
-
0
49x4
0
do
per oz.
4778
per oz., none here
Discount, 3 per cent.
0
Open market rates—
Per cent.
4 mouths’bank bills.....
17h@2
G months’ bank bills
17b®2
4 & 6 months’ trade bills. 2
®2l2
Paris
.
Brussels
.
Amsterdam....
.
Berlin
Hamburg
Frankfort
.
Leipzig
Genoa
Geneva
-
3
3
3i2
3
3
3
3
4
3*2
Open
..
•
■
■
'
market.
Pr. ct.
17b@2
2U
314
1 34 @ 1 70
13402
134
178®2
3L>
31.2
Petersburg
,
prin¬
Bank
Open
rate.
market.
Pr. ct.
6
4io
..
Vienna & Trieste
Madrid, Cadiz A
Barcelona
6
412
37804!8
6
New York
07
3120412
Lisbon & Oporto
Calcutta
Copenhagen....
....
0
at the
Pr. ct.
St.
d.
d.
487s
Quicksilver, £6 2s. 6d.
give firmness to the market. The Treasury Balance
The following are the current rates of discount
is small, being
only £10,770,492, against £11,824,027 last year;
but this is accounted for
by the large disbursements the Gov¬ cipal foreign markets:
Hank rate
£
an
£12,645,496. The supply of bullion held by the Bank is
£33,572,080, against £24,373,601 in 1878, while loans and discounts
have fallen from £25,285,445 at this
period last year to £22,370,-
The demand
1876.
arrange that all payments of bills shall be made
correspondent.]
vances
reserve.
24,373,601
33,572,080
reserve
occurred in connection with
Is. 73jfd.
Is. 718(1.
3s. 6 Vi.
4s. 10i4d.
some time to come, seek to
strengthen their position and improve their credit, and this is
more likely to be
successfully accomplished by trading judic¬
iously, and not by incurring unusual risks. That there is a
jirocess of recovery going on is
evident, and as the year ad¬
the total
£
purchased on one exchange or, “post” day on the
following
“post” day—that is to say, bills purchased on
Tuesday
were paid for on
Friday, and those bought on Friday were
paid for on Tuesday. Owing to a difficulty which has
27.60
Merchants will, for
tion, and there is
1877.
£
111,622,000 S9,277,000 .01,076,000
The Union Bank of Australia will receive tenders
up to one
o’clock on Wednesday next for Queensland four
per cent deben¬
tures to the amount of £1,184,000. The minimum
price is fixed
at £88 10s. per cent.
Interest commences from the 1st of July,
and the principal is repayable in 1915. The loan
is required
for public works and other
purposes.
'
It has hitherto been the custom to
pay for foreign bills
London, Saturday, March 22, 1879.
This week’s Bank return is
again very satisfactory, and it
points very clearly to a two per cent rate of discount. In fact»
the quotation for money in the
open market is not more than
1% to 2 per cent for three months’ bills, while there are no takers
of six months’ bank bills,
except at a similar price. No doubt
can be
entertained, therefore, that an early reduction in the
Bank rate will be made, and that a two
per cent rate of discount
will be in existence for some time. It
is, as is well known, a
very general impression that cheap money,
cheap food and
cheap raw materials will give a stimulus to business. There
has been some improvement of late
; but it seems that no
very
marked change is expected this
year, at all events not until the
autumn.
Proportion of
1878.
.£
Mid. Upland cotton...
5316d.
No. 40 mule twist..
8d.
Clearing-house return. 102,318,000
25.30
.
028.05
028.05
028.05
....
.
25.32
Mar. 21
....
Shanghai....
Short.
21
-020.66
012.0
28.00
28.00
28.00
a
....
12.10
4658@4678
4638®467b
a
a
.
Short.
020.66
020.66
2278@23ie
a
Naples
Mar. 21
25.471>@25.5212
...
Vienna
Madrid
Cadiz
Genoa
Milan
Rate.
..
1879.
..
25.271*2 025.3712 Mar. 21 Cheq’s.
mos.
ii
Berlin
Frankfort...
Time.
25.47V025.52i2 Mar.
Short.
3
Latest
Date.
Coin and bullion in
both departments
Eng. wheat,
EXCHANGE ON LONDON.
[Vol. XXVIII.
4
5
8
5
06
04*2
4
®4^
There has been less business doing in the market for Ameri¬
can securities of late,
but, on the whole, prices have been
fairly
supported. The value of British railway shares has improved,
3 mouths’ bills
for although the traffic returns are
mostly unsatisfactory, hopes
The following are the rates of interest
allowed by the joint- are entertained that before the half
year lias completed its
stock banks and discount houses for
deposits :
course, the position of affairs will be more favorable.
Consid¬
Percent.
Joint-stock banks
lig ering how cheap money is, the markets, though they are firm
Discount houses at call
1
in tone, are certainly
do
with 7 days’ notice
greatly wanting in animation. The num¬
*
i
do
with 14 days’notice
ber of speculators and speculative investors has been
largely
Annexed is a statement
showing the present position of the diminished of late, business being in every department con¬
Bank of England, the Bank rate of
discount, the price of Con¬ ducted with great caution.
sols, the average quotation for English wheat, the
American meat and provisions are arriving
price of
freely into this
Middling Upland cotton, of No. 40 mule twist, fair second
qual¬ country, and the inhabitants of manufacturing towns in the
ity, and the Bankers’ Clearing House return, compared with the North are deriving considerable benefit from the
cheapness of
three previous years:
food which is the result. Bad trade has
Open-market rates—
30 and GO days’ bills
,
.
.
.
.
.
,
Circulation, including
.
bank post bills
Public deposits
Other deposits
•Govemm’t securities.
Other securities
Res’ve of notes & coin.
17b®2
17b®2
1879.
£
28,755,221
10,770,492
28,388,340
15,449,031
22,370,142
20,073,685
1878.
1877.
£
£
27,016,214
27,228,416
8,883,936
22,264,911
16,002,035
19,344,179
14,375,131
11,824,027
23,054,302
15,536,187
25,285,445
12,645,496
1876.
£
26,465,370
9,089,332
19,626,933
13,853,215
19,940,385
13,486,896
encouraged
many
economies and has reduced
consumption, and all sections of the
community, excepting the landlords, farmers and graziers, are
deriving much benefit. The recent large and continuous import¬
ations into the North of England are producing quite a revolu¬
tion in the trade of the butchers in towns such
as
Newcastle-
April
THE CHRONICLE.
12, 1879.]
369
on-Tyne, Gateshead, Shields and Sunderland, especially those
1878-9.
1877-8.
1876-7.
1875-6.
supplying the working classes. American fresh meat of really Wheat
1,060,357
1,042,791
612,249
131,085
excellent quality is sold in shops which have been opened by Barley
80,158
34,458
19,220
17,849
Oats
54,544
74,061
71,987
158,827
companies at 8d. per pound for best roasting pieces, and from Peas
10,853
14,998
18,280
20,449
6,716
■
12,061
16,802
7d. to 5d. per pound for other qualities. They have very large Beans
4,915
Indian corn
275,344
88,561
278,010
27,323
Flour
and
sales,
in many instances the opening of these shops has had
84,924
36,688
21,106
12,730
the effect of bringing down the prices of English beef 2d. per
RATES OF EXCHANGE AT LONDON AND ON LONDON
pound. The Danish cattle boats had all reached Newcastle
AT LATEST DATES.
quay on Monday upon their first voyage of the season. They
EXCHANGE AT LONDON—
would bring close upon 1,000 head of cattle for Newcastle
EXCHANGE ON LONDON.
March 28.
market. Above 4,500 casks of butter and a quantity of other
Latest
On—
Timo.
Rate.
Time.
Rate.
produce were likewise brought by these boats. A large quan¬
Date.
tity of American bacon and hams is sold retail in the Northern Amsterdam. Short.
Mar. 27 Short.
12.10
12.134o)I2.234
towns. The price is from 8d. to 4d. per pound. A very excel¬ Amsterdam 3 mos.
12.414© 12.434
25.32
25.47^2® 25.52 ^2 Mar. 27 Short.
lent quality of American bacon is sold among the working Antwerp
Paris
Short. 25.27i2®25.37i2' Mar. 27 Clicq’s.
25.29
3 mos. 25.4712@25.5212'
classes at 5d. per pound in pieces. A good deal of bacon is also Paris
20.62
'3)20.67
Mar. 27 Short.
20.49
Hamburg
20.62 '3)20.67
brought from Denmark, and is sold in the retail markets in the Berlin
Mar. 27
20.49
20.62 ® 20.67
Mar. 27
20.49
North. In London, however, butchers and provision dealers Frankfort...
23 '3)2318
Mar. 25 3 mos.
St.Petersb’rg
2338
Vienna
are very reluctant to lower their
11730
Il.92i2@ll.97i2 Mar. 27
prices ; but some are endeav¬ Madrid
47 ®47i4
oring to secure a name and a larger trade by being foremost in Cadiz
47 '3)4714
Genoa
27.60
27.97i2@28.02i2 Mar. 27 3 mos.
making a reduction; and if the public wisely patronize such Milan
27.9712 @28*0212' Mar. 27
27.60
u
establishments, it will be impossible for those who are only con¬ Naples
27.60
27.97i2@28.02i21 Mar. 27
Alexandria
Mar. 25
9714
tent with large profits to hold their ground. ‘ The
high prices Lisbon
513l@5178
90days
Mar. 27 60 days
4.86
charged by shopkeepers of late years have also given a stimulus New York... 60
Is. 7i4d.
Mar. 27 6 mos.
Is. 7%d.
Bombay
days
to the co-operative system, wjiich is daily assuming larger pro¬ Calcutta
Is. 7i4d.
Mar. 27
Is. 7i3ie<L
Mar. ‘26
Hong Kong
3s. 73sd.
portions. The desire, in fact, to buy on the best terms for cash Shanghai....
Mar. 26
4s. 104d.
is becoming more general, and as a large saving is
thereby
effected the professional and manufacturing classes should have
[From our own correspondent.]
either larger sums saved or they will be in the position, if they
London, Saturday, March 29, 1879.
choose, of spending more in other ways. The tendency just
Owing to the revenue payments, and to the return of another
now, however, is to save and to repair the losses incurred of late quarter, there has been a better demand for
money during the
years.
week; and in the open market the rates of discount have risen
There has been a fair consumptive demand for wheat
during about one-quarter per cent. The inquiry, however, has been
the week ; but supplies have been ample, and there has been no far from active, and it is still expected that early next month
material variation in prices. Good dry wheats are chiefly in re¬ the money market will assume an easier aspect. The trade de¬
quest. We have had some very mild and spring-like weather dur¬ mand for money is very limited, and the position of the Bank
ing the week, but the wind has now become easterly and cold. of England continues to improve. The gold movements are
Scarcely any rain, however, has fallen; the winds are true still favorable, there being a further increase of £524,765,
March winds ; and farmers have, in consequence, been able to raising the total stock to £34,096,045, against £24,032,245 last
make rapid progress with out-door work. There seems to be no year. The note circulation, however, is larger, and the total
doubt of the fact that the area of land under wheat in this reserve shows only a small improvement, being £20,216,055,
country is decidedly below the average. In France, it is said against £11,916,320 in 1878. The proportion of reserve to
that the crops are likely to prove deficient, and in that, as well liabilities is very satisfactory, being 51 TO per cent, against
as in this, country, some importance is attached to the fact
that, 50’93 per cent last week, and 3318 per cent last year. The
owing to the difficulty of procuring choice seed, the last crop position of the Bank is clearly a strong one, and there can be
having been of very poor quality, the probabilities of raising a no doubt of a continuance of the present low rates of discount.
good crop this year are diminished. The quantity of wheat
By some, the small increase in the note circulation this week
reported to be afloat has somewhat fallen off ; but supplies of is attributed to a revival of distrust caused by the unfavorable
statement issued by the directors of the Oriental Bank. This
grain are already beginning to arrive from near Baltic ports.
During the week ended March 15th the sales of home-grown well-known institution has for some time past been known to
wheat in the 150 principal markets of
England and Wales have suffered heavy losses, in consequence of the low price of
amounted to 51,834 quarters, against 32,298 quarters in 1878, silver, the numerous failures which have taken
place in the
and it estimated that in the whole kingdom they were 207,350 Eastern trade, and the depreciation in the value of their Indian
quarters, against 129,200 quarters in 1878. Since harvest the and other securities. It will be impossible, therefore, to declare
sales in the 150 principal markets have been 1,568,376
quarters, any further dividend for 1878. About a year ago, the directors
against 1,250,200 quarters ; while it is computed that they observed that the reserve fund amounted to £500,000, but as
have been in
the
whole kingdom
6,273,500 quarters, £175,000 had to be written off for losses sustained in 1877, it
against 5,008,800 quarters in the corresponding period now amounts to £325,000. The shares of the company have
of last season.
Without reckoning the supplies furnished been largely sold of late, not only because one section of the
ex-granary at the commencement of each season, it is estimated proprietary were alarmed, but also because the proprietary is
that the following quantities of wheat and flour have been
largely Scotch, and sales had become necessary,in consequence
placed upon the British markets since harvest:
of some holders having had calls made upon them
by
3 878-9. •
the liquidators of the City of Glasgow Bank. The shares,
1877-8.
1876-7.
1875-6.
Imports of wheat.cwt.26,628,271 32,451,202 20,649.734 32,380,964
which are of £25, fully paid, have been as low as 17,
Imports of flour
4,503,728
4,842,480
3,370,247
3,802,593
Sales of home-grown
but the price is now 20. The chartered Bank of India, Aus¬
produce
27,185,200
.
.
it
....
it
...
it
it
it
it
a
t(
a
a
a
a
it
a
a
,
it
.
....
it
,
it
....
it
.
a
Total
Deduct
exports
wheat and flour
24,829,000
23,880,200
58,317,199
59,998,482
48,848,981
60,063,757
1,145,281
1,079,479
633,355
143,815
57,171,918
58,919,003
48,215,626
59,919,942
of
Result
Av’ge price of English
wheat for the
22,704,800
season.
40s. 4d.
53s. Id.
-
49s. 2d.
45s. 8d.
The
following figures show the imports and exports of cereal
produce into and from the United Kingdom since harvest, viz.,
from the 1st of September to the close of last week,
compared
with the corresponding period in the three
previous years :
IMPORTS.
1878-9.
Wheat
Barley
Oats
Reas
Beaus
Indian
com
Flour..........
1877-8.
1876-7.
1875-6.
cwt.26,628,271
6,701,806
6,018,104
876,912
688,658
16,496,955
32,451,202
8,094,726
6,172,556
1,001,313
20,649,734
32,380,960
7,915,816
5,500,898
777,618
5,538,030
5,176,830
2,117,546
16,590,725
4,503,728
4,842,480
,2,615,284
17,308,810
3,370,247
926,660
2,110,460
12,841,480
3,802,590
tralia and China recommend
cent per annum,
a
dividend at the rate of 4 per
making, with the interim dividend paid in
the year 1878.
October last, 5 per cent for
The Government
announce
that tenders will be received at
the Bank of
000
England on Friday next, the 4th inst., for £1,500,Treasury bills, in amounts of £1,000, £5,000 and £10,000
each.
The tenders for £1,184,800 of Queensland 4 per cent
debentures
opened at the Union Bank of Australia on Wednesday.
The applications amounted to £2,940,000. Tenders at and above
£89 Is. 6d. received allotments in full, and those at £89 Is.
about 40 per cent.
The Crown Agents for the Colonies offer for public subscrip¬
tion £109,000 4^ per cent debentures of the Jamaica Govern¬
ment at a minimum of 95.
This issue forms part of a total of
were
£140,000.
370
THE
CHRONICLE.
[Vol. xxvni.
The
half-yearly report of the Bahia & San Francisco Rail¬ 1 ment, but the tone has been
tolerably firm. There is a demand"
way Company shows a net balance of £58,377, which is in¬ for sound
securities, and consols, notwithstanding the
present
creased by £4,622 taken from the
working capital and City expenditure of the Government, are as high as 97 to
Thi»
973^.
Warehouse, &c., accounts to £58,377. Out of this it is proposed price
includes interest which has accrued since the com¬
only
to
pay a dividend of 14s. per share, free of income tax, or at
the rate of 7 per cent per annum. The
count,
including the balance at the credit
&c., account, but subject to £9,000 for a
Calcada,
now amounts to
There has been
fair
a
mencement of the year.
new
warehouse at
RECEIPTS
a
AND
PAYMENTS
APRIL
inquiry for
Per cent.
17*®2
17h®2
Balance
1878.
£
Bank rate
Consols
Telegraph service
Crown lands
Interest on
advances
Revenue
28,286,902
11,530,029
22,615,486
15,502,035
23,776,279
3318
3913
3 p. c.
2 p. c.
96 hi
51s. 2d.
3 hi p. c.
6 lid.
10h>d.
6916<1.
5Ulfld.
51»i6d.
hid.
3,822,811
83,230,000
80,165.292
77,971,316
86,408,681
83,959,966
1,575,144
1,623,845'
700,000
800,000
1,000,000
3,570,000
Advances, under various Acts, repaid to the
Exchequer
Money raised for fortifications and military
barracks
Exchequer bonds, net amount raised
Treasury bills, net amount raised
Exchequer bills, net amount raised
Totals.....
;
569,000
:
93,502,825
Expenditure and Other Payments.
lOd.
80,947,000 101,307,000
4513
grants.).
local works,
on
vote
of
per oz. standard.
per oz. standard.
per oz.
.per oz.
per oz.
per oz.
Spanish doubloons
South American doubloons
United States gold coin
German gold coin
Estimate
Quicksilver, £6
The
following
are
cipal foreign markets
Bank
Paris
'.
Brussels
Amsterdam
Berlin
rate.
Pr. ct.
3
3
3 hi
3
Hamburg
3
Leipzig
3
3
4
Frankfort
Genoa
Geneva
3*2
2s.
d.
®
®
per oz.,
do
48 H
per oz., none here
Discount, 3 per cent.
®
®
prin¬
:
Open
market.
Pr. ct.
1*U®2
21e®23s
3*4
214®21e
21s®238
2*4
214®212
3^
3 hi
Bank
Vienna
St.
Petersburg
Madrid, Cadiz &
...
rate.
Pr. ct.
4'L>
6
Barcelona
6
5
Lisbon & Oporto.
New York
8"
Calcutta
Copenhagen
4
®412
Open
market.
Pr. ct.
3%®4
334®4q
6
5
5
®7
®6
®6
4
@4 *2
A deputation will
shortly wait upon the President of the
Board of Trade with reference to a
decision by the Hull
stipen¬
diary magistrate, who fined a shipowner because the
shifting
boards for securing the
grain in the hold of the vessel had got
displaced in a storm. The shipowners consider that if
this
decision is to be upheld the result will
be that all grain will be
carried in
foreign ships, because
it is
impossible, they say, to
provide the necessary apparatus and
compete with foreigners,
who can carry the grain as
they like.
Nothing of any importance has transpired on the Stock
Exchange. There has been very little movement in
any depart-
594,196
1,538,158
402,950
1,555,335
49,851,770
46,588,590
79,944,157
76,475,958.
4,106,120
5,501,320
800,000
100,900
the
*
’
450,000
*339,000
84,839,277
82,878,178-
7,630,461
1,033,087
7,345,941
93,502,825
90,953,811
729,692
Treasury bills paid off within the year
Treasury bills raised within the year
£17,776,000
17,437,000
£339,000
The weather has been severe
during the week, and in Scot¬
land there has been a heavy fall of snow. There
appear, how¬
ever, to be just now some indications of
change. In the
trade for wheat during the week there has been no
important
dry qualities have changed hands at full
prices ; but for inferior produce the demand has been slow. It
is said that the
young wheat plant has suffered from the pro¬
tracted winter both in this
country and in France.
During the week ended March 22 the sales of home-grown
wheat in the 150 principal markets of
England and Wales
amounted to 50,340 quarters,
against 31,151 quarters last year
and it is estimated that in the whole
kingdom they were 201,360
quarters, against 124,600 quarters in 1878. Since harvest the
sales in the 150 principal markets have been
1,618,716 quarters,,
against 1,281,351 quarters; while it is computed that they
have been in the whole
kingdom 6,475,000 quarters, against
5,133,500 quarters in the corresponding period of last season.
Without reckoning the supplies furnished
ex-granary at the
movement.
at the
£
27,929,083
Net amount paid off
50*8
50*2
the current rates of discount
£
27,960,033
86,241,110
Totals
*
d.
standard, nearest.
do
standard,
oz.
6d.
d.
:
77
®
77 lO1^®
73 9 ®
73 81*2®
76 33i®
76 3 *4®
SILVEK.
per oz.
d.
9
s.
to
to
Mar. 22, ’79. Mar.23,’78.
Credit
Exchequer bonds, and interest,
&c., on Exchequer bonds (Suez)..
719,000
Other charges on consolidated fund
1,760,000
Supply services
55,762,110
England
GOLD.
,
'
*
Aj)r. 1,’ 78< Apr. 1, ’77,
supplement’ry
79,437,060
out of
meet
payments from
Expenditure—
£
Permanent charge of debt
28,000,000
Interest on temporary loans for
Is. 0a4d.
issues
'
(including
9414
90,953,811
Exchequer to
Financial
Year
Bank of Ireland
Mexican dollars
Chilian dollars.
Total
for the
43s. 4d.
943,505-
4,250,000
Estimate
:
gold.per
410,000
Total, including balance
early
grs.
2,620,000
8,112,000
6,164,000
1,280,000
1,082,897
3,573,395
part of the week, but there was subsequently a
Expenditure
large increase
in the demand for the means of
Other Payments—
remittance to the East, and on
Advances, under various Acts, issued from
Wednesday the Council drafts realized Is. ?Md. the rupee,
Exchequer
Fortifications and military barracks
being an advance of %d. The price of bar silver is now 50s. 8d. Exchequer
bills, more paid off than raised
per ounce. Mexican dollars have also improved
in value, the Treasury bills, more paid off than raised
present quotation being 48%d. to 48%d. per ounce. The fol¬
on March 22, 1879:
lowing prices of bullion are from Messrs. Pixley & Abell’s cir¬ Balances
Bank of
silver, line
silver, contain’g 5
19,474,000
27,078,000
10,700,000
2,630,OIK)
5,529,000
6,124,000
1,260,000
410,000
10,344,000
Other Receipts—
Further amounts of sovereigns have been withdrawn from
the
Bank, evidently for Government purposes; but there is no ex¬
port inquiry for bar gold, and further supplies have been sent
into the establishment. The silver market was
dull in the
Bar
Bar
19,624,000
26,955,000
...
25,000,938
947b
48s. lid.
Bar gold, line—
Bar gold, relinable
5,988,650
°
75,425,000
cular
6,243,389
1,172,853
1,075,000
4,000,000
Miscellaneous
£
26,464,292
40s. 8d.
8
4,815,797
1,315,000
410,000
for local
works and on purchase
money
of Suez Canal shares
1876.
24,032,245
97
No. 40 mule twist
1877.
13,481,652
51-10
2hi p. c.
Eng. wheat, av. price.
Mid. Upland cotton...
20,500,000
27,600,000
10,930,000
2,630,000
8,570,000
6,200,000
£
5,462,797
780,592
£
duty
Property and income tax
1*2
1^2
1:U
27,106,515
9,803,159
19,021,728
14,357,605
19.853,620
13,179,853
in
.:
£
-
Land tax and house
Per cent.
£
29.124,794 27,407,074
Public deposits
10,971,892 12,287,814
Other deposits
28,349,147 23,338,414
Goverum’t securities. 15,449,031
16,386,358
22,377,588 25,918,204
20,216,055 11,916,320
Coin and
liabilities
April, 1878
Post office
£
bank post bills
..
1st of
Stamps
Clearing House Return, compared with the
1879.
BETWEEN
Apr.l,’78,to Apr.2,’77,tO'
1878-9. Moll. 22, ’79.
Mch.23/78.
Revenue —
Customs
Excise
three previous years:
bullion
on
Bank of England
Bank of Ireland
discount, the price of con¬
sols, the average quotation for English wheat, the
price of
Middling Upland cotton, of No. 40 mule twist, fair second quality,
departments
34,096,045
Proportion of reserve
EXCHEQUER
v
Annexed is a statement
showing the present position of the
Bank of England, the Bank rate of
both
THE
N
the banks and discount
Joint-stock banks
Discount houses at call
do
with 7 and 14 days’ notice of withdrawal
Circulation, including
OF
MARCH
state¬
mate for
Per cent.
4 months’ bank bills
2 '&21s
6 months’ bank bills
21e®-]4
4 & 6 months’ trade bills. 2 V®3
The rates of interest allowed
by
houses for deposits are
subjoined :
and the Bankers’
OUT
1, 1878, AND
Open-market rates—
2ty
Open-market rates—
30 and 60 days’ bills
3 months’ bills
year will terminate next
22, 1879.
Revenue and other receipts.
Total receipts into the
Budget estiExchequer from
return of weakness is
Hank rate
to
INTO
£39,681.
money during the week,
anticipated as soon as the dividends
are paid
and the quarterly disbursements effected. The causes
influencing the market are quite temporary. The following
are the present
quotations for money :
but
The financial
working capital ac¬ Saturday, the 5th of April. The following is the latest
of City Warehouse, ment published of revenue and
expenditure :
Fine
commencement of each season,
it is estimated that the follow¬
ing quantities of wheat and flour have
British markets since harvest:
1878-9.
Imports of wheat.c-wt. 27,471,938
Imports of flour
4,725,421
Sales
of
produce
Total
home-grown
been
placed
upon
the
1877-8.
1876-7.
1875-6.
33,135,196
21,216,155
3,466,472
33,195,789
3,886,376
5,084,833
28,057,700
22,244,751
25,595,100
24,626,20^
.60,255,059
60,464,780
50,277,727
61,609,365-
April 12,
THE CHRONICLE
1879.]
371
—~
.
Deduct
export*
wheat and flour
of
1378-9.
1877-8.
1876-7.
J.,167,548
1,102,162
638,371
160,047
...59,087,511
Av’ge price of English
59,362,618
49,639,356
61,448,318
40s. 4d.
53s. Od.
49s. 3d.
45s. 7s.
Result
wheat for the season.
1875-6.
FOREIGN IMPORTS AT NEW YORK FOR THE WEEK.
24351—BStri.g
Dry Goods
General mdse...
Total week
Prev. reported..
The following figures show the imports and
exports of cereal
produce into and from the Fnited Kingdom since harvest, viz.,
from the 1st of September to the close of last week,
compared
with the corresponding period in the three
previous years :
1878-9.
Wheat
cwt.27,471,938
6,825,268
6,129,930
898,098
702,200
17,035,049
4,725,421
Barley
Oats
Peas
Beans
Indian
com
Flour
1877-8.
1876-7.
1875-6.
33,635,196
8,386,939
21,216,155
33,195,789
5,692,869
6,401,496
1,047,210
2,156,142
17,267,658
5,084,833
8,161,731
5,762,862
792,362
2,725,516
17,980,966
3,466,472
Wheat
1,081,432
80,958
56,056
11,222
6,761
285,224
86,116
Oats...
Peas
Beans
Indian
Flour
com
1,064,985
34,912
74,471
15,259
12,487
91,951
37,177-
3,886,376
.
until after the Easter recess.”
We understand that the call
proposed to be made, assuming that the decision in the test
is favorable to the liquidators, will be
£2,250 per share.
daily closing quotations in the markets of London and
Liverpool for the past week, as reported by cable, are shown in
the following summary:
London Money and Stock Market. —The directors of
the Bank
of England, at their meeting on
Thursday, reduced the rate of
Apr. 5.
Silver, per oz
d. 495s
Consols for money
Consols for account
U. S. 10-40s
U. S. 5s of 1881
U. 8. 4*29 of 1891
U. S. 4s of 1907
Erie, common stock
Illinois Central
9?9i«
97^1«
10434
107%
1075b
102
25%
85
Pennsylvania
Philadelphia^; Reading
35%
Mon.
Tues.
•
971518
9715m
971516
971516
971516
104
104
1073b
103%
107%
102%
263s
8512
36%
13%
107%
102%
26%
86%
107%
107%
102%
106%
Sat,
d.
Flour (ex. State) $ bbl. .23
6
Mon.
.9.
d.
23 6
Wheat,spr’g,No.2,1001b
Spring, No. 3...
Winter, West.,n.
Southern, new
Av. Cal. white..
California club.
“
7 11
1
4
“
9
1
“95
“
“
9
9
■Corn,mix,sft,old,$cent’l 4
Prime,
new
“
4
8
6%
7
9
9
9
9
4
4
pw
c
26
86
36
q
:
Tues.
s.
23
8
11
7
1
9
4
9
1
9
5
9
8
4
6% 4
d.
6
6
11
1
4
1
5
8
6%
on
Wed.
s.
d.
23 6
8 6
s.
23
8
7
9
9
9
9
4
7 11
9 1
9 4
9 1
9 5
4 8
4
6%
.
d.
6
6
11
1
4
1
5
8
4
Fri.
d.
s.
£
0
Sat.
d.
Pork, West. mess., $ bbl. 50 0
Bacon,Fngcl’r,new.cwt.27 0
Short clear, new. “ 27 6
Beef, pr. mess, new,$tc.74
Lard, prime West. $cwt.33
Cheese, Am. choice. “ 44
0
6
0
Mon.
s.
d.
50 0
27 0
27 6
74 0
33 6
44 0
Tues.
s.
d.
0
0
6
0
6
0
Wed.
s.
d.
50 0
27 0
27 6
74 0
33 9
42 0
Mon.
d.
Tues.
Wed.
d.
Tliurs.
d.
8%
d.
...'cb...
50
27
27
74
33
43
Tliurs.
s.
49
27
27
74
33
41
d.
0
0
6
0
6
0
London Petroleum Market.—
Sat.
d.
Petroleum, ref
Petroleum, spirits
$ gal
“
'7b...
...'a)...
Fri.
d.
s.
CT
1-6*
b
Fri.
d.
Good
©cmxmevctat amXI^XtsccUaujeous %txtrs.
Imports
Exports for the Week.—The
imports of last
compared with those of the preceding wreek, show
a decrease in
dry goods and an increase in general merchandise.
The total imports were $5*996,793,
against $6,430,784 the pre¬
ceding week and $5,803,558 two weeks previous. The exports
for the week ended April 8 amounted to
$5,960,298, against
$6,754,971 last week and $6,098,015 the previous week. The
following are the imports at New York for the week ending
(for dry goods) April 3 and for the week ending
(for general
merchandise) April 4:
J
week,
and
64,553,428
88,453,525
78,847,378
$70,548,570 $94,950,518
$84,807,676
April.
Labrador
Morro Castle
Baltic
Wieland
Havre
Havana
Fr. silver coin.
Mex. silv. dols.
Liverpool
Am. silv. bars.
Am. silv. bars.
London
Thetis
..Curaeoa
Am.
Niagara
..Havana
Mex. silv. dols.
Am. silv. bars.
Am. silv. burs.
5—Str. Douau
London
5—Str. City of Chester ..Liverpool
gold coin.
$2,000
32,200
60,000
42,298
5,000
5,000
125,200
95,500
Total for the wreek
($362,198 silver, and $5,000 gold)
$367,198
Previously reported ($1,901,516 silver, and $155,785 gold).. 5,057,301
Tot. since Jan. 1, ’79
($5,263,714 silver, and $160,785 gold)..$5,424,499
Same time in—
1878....,
1877
1876
1875
Same time in1874
$9,464,084
1873
16,510.818
1872
' 6,610,078
$5,041,809
3,529.106
13,813,743
17,416,273
1871
16,668,880
.
.Liverpool
Colon
Crescent
City
Scythia
4—Str. Atlas
Caroudelet
9,584,952
16,897,258
7,080,022
same
periods have
Am. silver
$102,197
Am.
^Laguayra
Same time in—
1870
$7,084,952
1869
1868
1867
specie at this port for the
gold
1,500
Am. silver
Foreign gold...
Am. gold
Devon
Bristol
C. of Washing’tn.Havana
not be obtained.
c
6%
Liverpool Provisions Market.—
s.
60,070,949
1879.
$5,960,298
Am. silver
1,107
352
Foreign gold...
Aspinwall
Am. silver
Am. gold
Gold dust
Liverpool
Port-au-Prinee
Gold bullion...
Am. silver
Cienfuegos
Am. silver
Foreign gold...
Am.
240
70
1,500
5,020
9,690
3,168
322
16,633
32
4,639
1,633
gold
$148,104
..
2,861,749
Jersey City Finances.—A conference of banking men and
large property owners with the Board of Finance of Jersey
City was held this week, to consider the proposed reduction of
the municipal expenses, and devise ways and means to
help the
city out of its embarrassed condition. The committee appointed
at the previous meeting reported that no appeal had
yet been
made to capitalists to assist the city, because the committee felt
that the city should sliowr that it meant to reduce its
expenses
before such an appeal wras made. This was necessary to restore
public confidence, and without it the needed assistance could
cotton.
Tliurs.
-1878.
$6,496,993
Tot. since Jan. 1, ’79 ($2,553,804 silver, and $456,049
gold)..$3,009,853
Same time in—
Same time in—
Same time in—
1878
$5,806,593 1874
$1,115,031 1870
$6,102,639
1877
5,843,813 1873
1,059,688 1869
7,187,685
1876
1,452,159 1872
578,725 1868
2,589,164
1875
5,064,248 1871
1867
2,907,667
665,678
%
1023b
26
86
1877.
$5,995,142
($129,081 silver, and $19,023 gold)
Previously reported ($2,424,723 silver, and $437,026 gold)
ci
107%
foreign ports for the
Total for the week
;
104
1073b
Liverpool Cotton Market.—See special report
Liverpool Breadstuffs Market.—
s.
98
98
77,114,458
comparison of the total since January 1, 1879, with the
corresponding totals for several previous years:
=
Wed.
Tliurs.
Fri.
Apr. 7. Apr. 8. Apr. 9. Apr. 10. Apr. 11.
49%
50
49%
4934
971516
1876.
$4,801,300
2—Str. Potosi
•discount at the Bank from 2% to 2 per cent. The bullion
in the
Bank has decreased £403,000 during
the week
Sat.
3452—Str.
to
April.
The
$5,996,793
74,763,134
EXPORTS FROM NEW YORK FOR THE WEEK.
March.
31—Str. City of Chester
31—Str. Andes
English Market Reports—Per Cable.
$4,416,304
84,511,978
our
The imports of
been as follows:
case
4,176,895
The following will show' the exports of
specie from the port
of New York for the week ending
April 5, 1879, and also a
The
liquidators of the City of Glasgow Bank issued the fol¬
lowing official statement yesterday: “ The liquidators of the
City of Glasgowr Bank having been engaged for several weeks
in investigating the state of the'Bank’s
affairs, and having
made their calculations on the best information which
they have
been able to procure, wrere prepared
to-day to have made a call
sufficient, in their estimation, to have provided for the defic¬
iency. Having, however, reason to hope that the judgment of
the House of Lords in at least one
important appeal is likely to
be given before the Easter recess,
they have deemed it expedi¬
ent to postpone
making the call until either that judgment has
been given or it is ascertained that it wrill not be
pronounced
2,943,490
$6,252,558
87,245,385
Tot, s’ce Jan. 1.. $64,872,249
146,617
18,407
169,372
23,121
5,465
31,398
13,430
17,950
287,928
21,783
4,346,278
$7,369,522
For the week
Prev. reported..
12,796,199
18,796
5,317,245
specie) from the port of New York
ending- April 8:
936,719
2,143,157
19,795
73,570
1879.
$1,819,898
week
5,545,372
616,588
1878.
$1,472,814
$94,614,907 $90,764,536 $79,179,43S $83,111,251
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 of
In
EXPORTS.
Barley
1877.
$1,906,280
Tot. s’ce Jan. 1..
IMPORTS.
-
1876.
$2,052,277
The committee
on
taxes and assessments sug¬
gested that the collection of overdue taxes and assessments be
placed in the hands of the corporation counsel for immediate
collection. The presidents of the various city boards stated the
action that had already been taken for the reduction of
expenses.
Commissioner Drohan said that a reduction of over $400,000
had been made in the tax levy during the past four
years. Con¬
gressman Hardenbergh thought it rather singular that a city of
120,000 inhabitants and $100,000,000 of taxable property could
not raise $150,000 to pay the interest on its debt; and he made
a motion that all salaries be reduced 25
per cent.
Corporation
Counsel Abbett said that before July 1 the city would be called
on to
pay interest to the amount of $420,000, in addition to its
current expenses, while it only had $300,000 to collect before
that date. The employes might have to wait for their money,
but anything wras better than that the city’s paper should go to
protest. Mr. Hardenbergh’s motion wras then called up and
adopted unanimously. Twro committees wrere appointed to con¬
sider the reduction of expenses and report on the 14th inst.,
Wednesday night, and the meeting adjourned.
—Attention is called to an advertisement in to-day’s Chron¬
icle signed A. B. C.
A. B. C. is a wrell-known member of the
New York Stock Exchange, and those communicating with him
will find a responsible party and doubtless a good, business
opportunity.
—The usual dividend of fifty cents per share for the month
of March has been declared by the Ontario Silver
Mining Com¬
pany, payable at Wells Fargo & Co.'s on the 15th inst.
.
372
THE CHRONICLE
glxe gauliet*5r (Gazette.
f
Coupon.
NATIONAL BANKS ORGANIZED.
$50
5,481—Genesee County National Bank of Batavia, N. Y. Authorized
capital, $50,000.
Paid-in capital, $20,800. Solomon Masse,
President; William F. Merriman, Cashier. Authorized to com¬
mence business April 4,
1870.
100
The
Company.
Railroads.
Baltimore & Ohio (in stock)
do
Wash. Branch..
Panama (quar.)
j When
! Mav
4
5
3
15.
Tlte
Money Market
and.
100
500
32513279
23701- 23829
11561- 11588
44601- 44732
17051- 192GG
..
5,000
10,000
20 to May 1
P. 1tt.
of 1868.
2087
7088
1816
2613
111111-
200
1000
1000
3000
1600
1500
as
follows:
April
April
5.
April
7.
April
April
April
8.
9.
10.
11.
reg. J.
& J. *106*8 *106*2 *106*8 106*e *106
6s, 1881
coup. J. & J. 106%
106*8 *106*8 106*4 *106
5s, 10-40s
reg. M. & S. 101*2 101*8 101*4 101*8 101*8
58, 10-40s
coup. M. & S. 101*8 101*8 101*4 *101
*101*8
5s, fund., 1881...reg. Q.-Feb. 104
103 78 104
10378 103*8
5s, fund., 18Sl-.coup. Q.-Feb. 105*9 105
105
10478 104%
4*ss, 1891
reg. Q.-Mar. 105*4 *105*8 *105
105*8 *105
4*28, 1891
coup. Q.-Mar. 105*8 *105*8 *105
*105
*105
4s, 1907
reg. Q.-Jan.
99%
99% *99% *99%
99%
J
r-4
P4
o
o
O
4s, 1907
coup. Q.-Jan.
99%
99%
99%
99%
99%
Cs, cur’cy, ’95-99. reg. J. & J. *121*8 *121*8 122
*121% *12m>
*
This is the price bid; no sale was made at the
Board.
outstanding five-twenties of
There have been various
3000
7000
$7,000,000
Interest
Period,
Gs, 1881
Financial
balance of the
1111-
-
-
day, as Good Friday is observed as a semi-lioliday, and the
Stock, Produce and Cotton Exchanges are closed. On
Friday
last we referred
briefly to the large subscriptions made on that
day to the 4 per cent loan, which enabled Secretary Sherman to
1867, and all of the issue
r
_
Closing prices at the N. Y. Board have been
April 18 to May 14
11-
-
_
Total
Situation.—Tlie past
week virtually closed for business
purposes at the end of Thurs¬
call in the entire
Matures July 4.
1-15902
1-36779
1-13111
1-26455
$3,000,000
Iteqis’d.
$50
FRIDAY, APRIL 11, 1879-5
97th Call.
Made April 9.
Matures July 9.
13000
15000
4.*
Total
(Days inclusive.)
f April 16.
May
1. April
10-40 Bonds.
96th Call.
Made Api'i^L
123001-128833
234001-245000
115001-1185SO
213001-227429
500
Books Closed.
! Payable.
5-20s, 18G8.
95th Cell.
Made April
1,000
Name of
5-20s, 18G7.
Matures July 4.
1,000
DIVIDENDS.
following dividends have recently been announced:
Per
Cent.
[ Vol. XXVIII,
*
The range in prices since Jan.
class of bonds
outstanding April
1, 1879, and the amount of each
the details of the closing subscriptions, but Mr. Sher¬
1, 1879, were as follows:
man himself states to a
Range since Jan. 1, 1879.
reporter of the 'limes that on the 4th
Amount April 1,1879.
of April “ At noon the
Lowest.
subscriptions were but $6,000,000. At
Highest.
Registered.
Coupon.
2 o’clock they had swelled to
$6,502,750. At that hour the Gs, 1881
cp. 105% Mch. 22 10678 Jan. 17
$201,475,100
Bank of Commerce of this
city subscribed by telegraph for 6s, 5-20s,’G7.cp. 101% Jan. 24 102*8 Jan. 2 114,744,250 $81,261,250
153,562,550
6s,
$40,000,000, and before 3 o’clock other banks of this
5-20s,’68.cp. 102*8 Mch. 22 104% Jan. 4
10,472,100
20,964,500
city had
taken $12,000,000 more.
The London syndicate subscribed for 5s, 10-408... cp. 101*4 Mch. 19 108*8 Jan. 4 144,332,450
50,233,850
5s,fund.,’81.cp. x0378 Mch. 25 107*2 Jan. 15 257,459,050 250,981,300
$1,000,000. The grand total of the subscriptions when the loan 4*23, 1891 ..cp. 104 Mch. 21 106*8 Feb. 28
105,G63.950
84,336,050
closed was $59,502,750, and the amount
4s, 1907
cp. x99
of the
Apr. 1 100*8 Feb. 17 289,173,650
five-twenty bonds 6e, cur’ncy.reg.
160,226,350
which it was intended to cover was
119*2 Jan. 4 122
Feb. 20
04.623,512
ports
re¬
as to
The loan was
$59,565,700.
closed at precisely 3 o’clock, and after that time
no more bids
were taken.”
Subsequently
the Bank of Commerce consented
to relinquish $10,000,000 of its
bonds to go to the
Syndicate of
foreign bankers, who claimed that they were entitled to these
under their contract.
The Secretary also made tlie first call for
$10,000,000 on the ten-forties. These
extraordinary transac¬
tions have furnished the
absorbing topic of the week, but in ad¬
dition there has also been a rumor about
for the past day or two
that bankers in London,
through their agents here, have made a
proposition to Secretary Sherman to take
enough more of the 4
per cent bonds to take up all of the
outstanding ten-forties—say
$195,000,000. This proposal is said to be made
upon the con¬
dition that no more of the 4
per cent bonds shall be sold by the
Government until Jan. 1, 188!, when the s xes
of 1881 become
payable. The rumor of this remarkable negotiation
it is current in Wall
plete without
we
street,
as our
some reference to it.
on
per cent on
are
try to
The Bank of England
weekly statement on Thursday showed a
decrease in bullion of
£403,000, but the reserve was 49 1-16 percent
of liabilities,
against 49 per cent last week. The rate of discount
was reduced to 2
per cent from 2£ the previous
figure. The
Bank of France lost
3,118,000 francs in specie. The price of
silver in London was 49|d.
per oz.
The last statement of the New York
issued April 5, showed a decrease of City Clearing-House banks,
$f,078,925 in the excess
above their 25 per cent
legal reserve, the whole of such excess
being $1,900,375, against $2,979,300 the previous week.
The following table shows the
changes from the previous week
and a comparison with the
1879.
April 5.
Loans aud die.
Specie
Circulation
Net deposits
preceding
Differ’nces fr’m
previous week.
.
Legal tenders.
S. 5s, 10-40s
8. 5s of 1881
8. 4*28 of 1891
8. 4s of 1907
81,800
123,400
193,121,700 Dec. 5,823,900
31,815,800 Dec. 2,453,100
4.
Range since Jan. 1, 1879.
10.
Lowest.
104
104% 103% x03%
106% 107
1067s 106*4
107*8 107*2 107*8 106*2
101*4 X01*2 102*8 101
Highest.
Mch. 15 Ill
Jan.
7
Feb. 11 109% Jan. 4
Mch. 24 109*6 Jan. 29
Mch. 26 102% Feb. 28
State
aud Railroad
Bonds.—There has been little new in
State bonds, and it is reported
that the holders of Tennessee
bonds are not willing to accept
the compromise offered by the
State.
The constitutional convention will meet soon
in Louisi¬
ana, and is expected to act on the debt
question in that State.
Lake Erie & Western second consolidated bonds have
been taken
here “ seller 30 ” to come from London.
Messrs. A. H. Muller & Son sold
1878.
36,620,700
19,944,600
204,663,200
26,637,000
"
21,507,900
15,931,900
218,246,400
42,257,200
United States
at
Bonds.
$25,000 Brady’R Bend
Iron
Co., Istmort
25
3,000 Marietta & Cin. RR.
3d mort., 8s, due 1900... 13
1,000 N. J. Midland RR. 1st
mort., 7s. due 1895
35J4
5,000 Chic.& Can. Southern
RR. 1st mort., 7s,
Oct.,
1874,
64
coupons on
..
Messrs. A. H.
Nicolay & Co. sold at auction:
Bonds.
Pacific Rail¬
$10,000 Dry Dock E. Broad¬
way 7s,income land gr’nt,
way & Battery RR. 1st
due 1915
31*4
mort., 7s, due 1893
104
$32,000 Texas &
Closing prices of leading State bonds
1877.
April 7.
following securities
Shares.
95 Burleigh Rock Drill Co
$36
10 Metropolitan
Gaslight Co. .125*4
30 Citizens’ Gaslight,
Bklyn.. 71
10 Harlem Gaslight Co
45*4
19 Brooklyn
Gaslight Co
141*2
5 Union Trust Co. of N. Y..
.130*2
40 St. Nicholas Fire Ins. Co...
75*2
50 N. Y. Equitable Ins. Co... .200
45 Howard. Fire Ins. Co
104
10 Manufact’s & Builders’ Ins.140
2 Clinton Hall Association
45*4
years.
April 6.
the
auction:
the range*since Jan. 1, 1879, have been
$235,836,600 Dec.$4,621,900 $240,649,100
$260,196,800
18,365,000 Dec.
19.635,500 Tuc.
..
U.
U.
U.
U.
as
miscellaneous col¬
paper moves slowly, as there
found at 6(^7 per cent, the rates
which buyers
two
28.
and
follows:
Railroad bonds are firmly held, as a rule, except those bonds
mostly dealt in on speculative account, and in these there are
irregular this week, and more frequent fluctuations. A large amount of the New York
generally ranged at 4@6
get..
in London for three weeks
past
were as
I
Government collaterals, and
5@7 per cent
laterals. Prime commercial
few sellers
since Jan. 1, 1879,
Mch. April April
report would be quite incom¬ (
Our local money market has been
less
on call
loans have
rates
give
Closing prices of securities
the range
STATE8.
April
April
4.
10.
for two weeks past, and
follows:
as
Range since Jan. 1,
Lowest.
1879.
Highest.
Louisiana consols
Missouri 6s, ’89 or ’90
North Carniiua 6s, old
Tennessee 6s, old
49*8
48% 47
Mch. 18 69
Jan.
6
*104
*104*4 10350 Mch. 5 106*2 Feb. 12
*22 *2 *22*8 18
Feb.
8 225q April 5
39*2 *35
35
Mch. 8 42
Feb. 13
Virginia 6s, consol
*75
*75
Ao
do
2d series..
44
*40*2
Mch. 28 44
Mch. 28
Dist. of Columbia, 3-65s
*81
32*2 79*2 Jan. 3 8334 Feb. 27
This is the price bid; no sale was made
at the Board.
Bonds.—After the final subscriptions to the
four per cents and the
calling in of all the five-twenties left
outstanding, it was to be expected that there would be a
large
demand for governments.
There has been a
heavy business
this week, with an advance in
the prices of nearly all bonds
)
except the ten-forties and sixes and fives of 1881.
Railroad and Miscellaneous
'/he four per
Stocks.—The movement in
cent, bonds have taken
nearly all of the business, and these government bonds and the steadier working of the money mar¬
advanced £ per cent, as soon as it
ket imparted
was known that the
strength to stocks at the opening of the week. It
loan wras
*
closed,
as announced
by the following circular
:
Treasury
Department,
Subscriptions to the four per cent consolsWashington, April 4,1870.
having been received to the
full amount of the 5-20 six
per cent bonds
this department of the date of
outstanding, the circular of
January 1, 1870, inviting such subscrip¬
tions, is rescinded. The ten-dollar
certificates will be sold as
heretofore, under the circulars of refunding
the dates of March 12
and 26. The
four per cent consols will
hereafter be sold for the
redemption of 10-40
bonds of the act of March
3,1804, upon terms to be hereafter pre¬
scribed.
John Sherman,
Secretary.
the ten-forty bonds was
afterwards
The three calls this week were
as foll ows ;
A call for
issued.
$10,000,009 of
was
supposed that the calling in of
ties would lead to
so large an amount of securi¬
another active movement in
speculative and
investment railroad securities.
only
The market,
however, has shown,
a fair activity, and on Thursday there was considerable
weakness in the early part of the
day, which was most conspic¬
uous in
Michigan Central and other trunk line stocks, but after¬
ward there was a decided
strength, advancing
recovery.
Union Pacific showed
much
on reports of increased
Those
who are inclined to take the most favorable earnings.
view of this stock
claim that its situation has
the
new
interest which
greatly changed for the better since
in at the last election of
directors*
came
April
CHRONICLE
12, 1879.]
373
^:
and since the vexed questions with the Government have nearly
all been passed upon.
'1 he Pacific Mail and Panama difficulties
have not yet been finally settled. The coal sale at auction, on
Wednesday, was not encouraging, and prices went much below
those obtained in March.
Railroad earnings for March, and for
the first quarter of the year, will be found on another page.
The daily highest and lowest prices have been as follows:
Saturday,
April
Canada South.
Cent, of N. J..
Chic. & Alton.
Chic. Bur. & Q.
Chic.M.&St.P.
01M
413-ij
77
114%
41%
Monday,
April 7.
5.
02
8*
‘IS*
62 '
62%
02
01
SB
!8*
135
135
134
134
Friday,
April 11.
61
39% 40%
75% 76
114
114%
41% 41%
81% 82%
62
03%
90% 91%
93”
42%
93%
5
40
40%
>>
7i
15%
43%
84%
21%
71%
83%
10%
84%
3
Th
8%
8%
31% 32%
7%
7%
9
9
O
slH
8^
8%
18%
4%
4%
72773% 73% 74% 74™
19
19% 18% 19% 17%
41106% 107% 100% 107% 106%
io?S
.
_
Total sales this week, and the range
since Jan. lf 1879, were as follows:
Canada Southern....
Central of N. J
Chicago & Alton
Chic. Burl.& Quincy.
Chic. Mil. & St. P..
do
do pref.
Erie
do pref
Hannibal & St. Jo.
do
do pref.
..
Illinois Central
Kansas Pacific
Lake Shore
75
3
7
4
4
3
3
92% April 8
8 135
Feb. 18
2
48% Jan. 30
2
Feb. 10
95
Mch
34% Jan.
2,918
84% Jan.
5
38
43
Missouri Kan. & Tex
Morris & Essex
N.Y. Cent. & Hud. R.
Ohio & Mississippi...
Pacific Mail
Panama
Pitts. Ft. W. & Chic..
St, L. I. Mt. & South.
St. L. K. C. & North.
do
St. L.& S. Fraucisco.
do
pref.
do
1st pref.
Sutro Tunnel
Union Pacific
Wabasli
Western Union Tel...
Jan.
Jan.
Jan.
4
2
2
21% Jan. 4
2
37*2 Jan.
13% Jan. 4
34
Jan. 10
79% Mch. 26
9% Jan. 21
67
Jan.
73%
44,120
5%
18,645
75*8
8,587
4,320 112
12,150
7a4
10-%
7,345
Michigan Central....
585 123
607 101
100
13
2.035
7
5,610
8,068
4,575
1,802
1,530
24,448
35,460
39.829 1
1878.
Highest.
2
310
73.558
1879.
3
111% Jan.
34% Jan.
77,730
74% Jan.
32,781
Chicago & Northw... 132,600 49% Jan.
do
do pref.
70,120
76% Jan.
Chic. Rocklsl. & Pac.
Jan.
2,375 119
3,940
95,053
55,657
5,660
2,360
9,200
2,120
4,000
i,
Range for
45% Jan.
33% Jan.
..
400
Jan.
Jan.
Jan.
Mch.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
25%
3%
4%
934
23s
57%
17:%
943g
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Mch
Jan.
63% Mch. 15
4738 Feb. 17
Jan. 28
88
122% Feb. 19
4834 Jan. 28
85% Jan. 28
6538 Jan. 27
6% Feb.
Jan.
Jan.
Jan.
Jan.
16% Feb.
45% Mch.
45k
55%
273s
51k
89
Jan. 30
22% Mch.
6 74%
2 90%
4
113g
3
86%
21 120
4
13
13
15%
2 136
4 107%
2
17%
2
9
O
8
21
23
16
31
11
24
27
25
30
10
17
7
Low.
High.
38
13%
45%
6634
45 k
85
99 k 114%
27%
64
54%
84%
55 k
32%
59 k 79%
983s 122
23
38 k
63% 85
2%
63s
3436 59%
41
61%
7%
21%
38
10
21%
16%
41%
723g
87
4
Jan. 28
55%
12%
71%
Jan. 27
58%
75
April 7
Feb. 18
2
7%
6738
89
Feb. 18 1033* 115
Feb. 17
6k ilk
Feb. 18
12%
23%
131
Feb. 20 112
102
Jan. 24 85
5
Jau. 24
15%
Jau. 25
3%
7%
383s Jan. 30 19
26%
734 Mcb. 14
9% Mch. 14
19% Mch. 18
4% Mch. 17
81
25
7 108
13
Feb. 19
Jan. 27
Mch. 4
1%
4%
5k
1%
5% 1134
5
3%
61k 73
12% 23%
75 k 102
and including, the period
men¬
-Latest earnings reported.-Jan. 1 to latest da te.1878.
1879.
WeekorMo.
1879.
1878.
Ala. Gt. Southern.January ..
Atch. Top. &S.F.4thwkMar
Atl. & Gt. West...February .
Atlantic Miss.&0.February
Bur. C. Rap. & N.4tliwkMar
Burl. & Mo.R.in N January ..
Cairo & St. Louis.3d wk Mch
Central of Iowa..January ..
.
$33,941
$37,330
$33,941
$37,330
150,500
70,753
654,850
328,387
255,878
117,935
1,230,974
637,508
231,345
326,563
132,698
45,101
58,060
121,451
35,746
132,698
3,978
36,775
98,377
5.253
67,111
1,289,000 1,22S,592
Central Pacific...March
Chicago
Alton..4thwkMar
Chic. Burl. & Q...February
.
58,060
91,017
982,377
18,627
89,434
911,150
15,131
Chic. & East. Ill.. 4th wk Mar
Chic. Mil. & St. P. 1st wk Apr. 156,000
1G8,752
Chic.&Northwest. March
1,101,000 1,095,884
Clev.Mt. V. &D..4thwkMar
9,763
10,415
Dakota Southern.January ..
19,705
16,430
Dubuque &8.City.March
Gal. Har. & S. An.February .
Gal. Houst. & H..March
Grand Trunk.Wk.ena.Mcb.29
Gr’t Western.Wk.end.Apr. 4
Hannibal & St. Jo.4th wk Mar
Houst. & Tex. C..February .
Illinois Cen. (Ill.)..March
do
(Iowa).March
-
Indianap. Bl. &W.4th wkMar
exchange
premium
very easy
in Lon¬
was quoted on Thursday
; selling, £ premium..
GO
Demand.
days.
72,459
81,269
102,208
82,185
38,445
151,187
31,069
164,531
83,572
95,202
241,315
205,883
416,005
124,878
21,717
402.847
133.562
56,957
4.86 @4.86%
4.85%@4.86
4.85 @4.85%
4.88
Documentary commercial
4.84%@4.85
Paris (francs;
Antwerp (francs)
Swiss (francs)
5.193g@5.16%
5.1938@5.16%
5.19%@5.16%
40% @ 40 k
4.86%@4, .87
5.17%@5. ,15.
5.17%@5, ,15
5.17 %@5, .15
4038® 40ia.
95%@ 955s,
9 5 38® 955g;
953s@ 95%;
9538® 955s
48,459
29,590
3,471,166
995,794
2,087,475
195,555
1,857,000
2,998,941
83.287
19,705
186,475
(guilders)
95
95
95
95
Hamburg (reichmarks)
Frankfort (reichmarks)
Bremen (reichmarks)
Berlin (reichmarcks)
The
following
are
554,854
260,472
437,748
98,377
38,260
67.111
3.320T09
958,557
1,956.617
182,398
2,205.108
3.258,632
86,795
16,430
252,340
130,964
102,171
2,180,269 2,298,144
1,143.363 '1,309,232
419,505
460,225
502,061
445,095
1,215,963 3,270,645'
321.317
401,610
264,095
319,980
@
@
@
@
$4 83
Napoleons
3 82
X X Reichmarks.
X Guilders
4 72
3 93
Span'll Doubloons. 15 55
00
Dimes & % dimes
Silver ks and %s
Five fraucs
Mexican dollars.
85
English silver
@$4 88
3
4
4
@15
@15
@
@
@
87
79:
65
Mex. Doubloons.. 15 50
Fine silver bars
103%® .109k
Fine gold bars....
par.@i4prein.
..
'@4,.83%k4.87% @4,,88
@4, -87,%t
4.87
95 k
95 k
95 k
95 k
quotations in gold for various
Sovereigns
coins:
98
—
—
98%
99
92
@
—
95
85%®
—
87
75 @ 4 80
68
@ — 70
98 %@ — 99
...
Prus. silv. thalers
Trade dollars....
New silver dollars
@
99%®
—
99%@
—
par^
New York
City Banks.—The following statement shows th»
condition of the Associated Banks of New York City for the week
endiner at the commencement of business on April 5, 1879 :
22%
The latest railroad earnings and the totals from Jan. 1 to latest
dates are given below.
The statement includes the gross earn¬
ings of all railroads from which returns can be obtained. The
columns under the heading “Jan. 1 to latest date” furnish the
gross earnings from Jan. 1 to,
tioned in the second column.
Money is
Prime hankers’ sterling hills on London.
Good bankers’ and prime commercial...
Good commercial
Amsterdam
Lowest.
442
Clev. Col. Cin. & Ind.
Clev. & Pitt8b., guar.
Col. Chic.& Ind. Cent
Del. & Hudson Canal
Del. Lack. & Western
in prices for 1878 and
Prices since Jan.
2,615
42,657
4,433
sterling bills, and 4.88 for demand.
don, the Bank rate being now 2 per cent. The $i0,000,000 of 4
per cents taken by the Syndicate will have no immediate effect
April 11.
the prices bid ana asked; no sale was made at the Board.
Sales of
Week.
Shares.
lias been ratlier dull, and on.
about 4.86£ for bankers' 60 daysT
4
4
108
19
'7iii
are
Charleston—nominal, £ premium, £ premium. New Orleans—
commercial, £ premium ; bank, £ premium. St. Louis—75 pre¬
mium.
Chicago—firm, 1-10 discount buying, and 1-10 premium,
selling. Boston—par to 12£c. premium.
Quotations for foreign exchange are as follows:
135
im
18%
S*
8%
8%
30% 31%
7%
8%
rates
on
o
o
15
*
the
business
the exchanges.
In domestic bills New York
at: Savannah—buying, 3-16
-C
105% 105% 105% 105% 105% 105%
*14
.
Exchange.—Foreign exchange
115% no
11% n%
13% 14%
135
.
.
actual
40
88
.
.
48% 49%
25% 25%
40
..
.
5
*14%
42%
84%
21%
•
.
131
131
*
18*
i®
are
62
Thursd’y,
April 10.
40% 41% 40% 40%
77
78
7o
76%
115
*114% 115 114% 114%
43% 41% 42% 41% 42%
83% 82% 83% 81% 82%
02% 61% 02% 01% 63
91%! 91% 92% 91
91%
132% 132% 132% 131% 132
*40
42% 42%
42%
93
93% 93
93%
*5
5
5
5%
40% 41% 40% 40%
48% 50% 48% 49%
25% 25% 25% 25%
40% 47
46% 40%
15
15
*15
15%
43% 44% 43% 43%
84
84
84
84%
20J<j 22
20% 22
71% 72%
71%
84% 85%
84%
10% 11
10%
85
85%
85%
no
no 115 )i 115%
12
12
12% 12
13% 14
13% 14%
U4
These
Wedncs.
April 9.
02
42%
77%
;
do
prof. 80% 82
Chic. &N. W.. 60% m.«
do
prcf. 89
Chic. R. I. & P. 131
Clev. C. C.&I. *42%
Clev.&P.,guar aa
92%
Col. Chic.&I.C. *5
5%
43
Del.&H. Canal 42
Del.Lack.& W. 50% 51%
Erie
25% 25%
do pref
40% 40%
Han. & St. Jo.
15%
do
pref.
44%
Illinois Cent.. S3
83%
Kansas Pacific 22
22%
Lake Shore.... 72%
Mich. Central.
80%
Mo. Kans. & T.
10%
Mor. & Essex..
80%
N. Y.C.& H.R.
no
Ohio & Miss...
12%
Pacific Mail...
13%
Panama
135
135
Pitts.F.W.&C. 104% 105
St.L.I.Mt.&So. *13% 15
8
St.L.K.C.&N.
8%
do
pref. 31% 32%
St.L.& S. Fran,
m
do
pref.
8%
m
do 1st prf.
Sutro Tunnel.
4%
Union Pacific.
73%
Wabash
20%
West. Un. Tel. 107
108 i
*
Tuesday,
April 8.
,—Latest earnings reported
Jan. 1 to latest date.—*
Week or Mo.
1879.
1878.
1878.
1879,
IdL & Gt. North..March
122,097
100,125
431,241
347,740''
Kansas Pacific.. .4thwkMar
101,416
80,362
768,017
637,732
Mo. Kans. & Tex .March
224.559
236,546
613.869
634,692^
Mobile <fe Ohio
March
163,227
165,755
518,827
626,537
Nashv. Ch.& St.L.February
158,034
155,771
315,312
333,577
Pad.& Elizabetht.3(l wk Mch
5,235
5,980
i, 62,138
74,375*Pad. & Memphis..3d wk Mch
2,902
4,349
37,730
.48.914
Phila. & Erie
237,000
February
180,507
449,748
401,003Phila. & Reading.February
877,865
525,410 1,835,080 1,199,390
St.L.A.&T.H. (brs)4th wkMar
135,692
12,480
10,026
114,118
St. L. Iron Mt. <fc S.March
352,580
344,198 1,025,770 1,061,037
St. L. K. C. & No..4tli wkMar
89,861
75,920
843,253
799,158St. L.& Southeast.3d wk Mch
22,560
22,016
239,892
237,904
St. Paul & S. City.February
37.965
84,689
81.808
41,341
Scioto Valley
March
18,450
24,579
65,737
44,903
Sioux City
28,176
St. P.February
42,672
20,724
54,084
Southern Minn...February
61,759
35,105
72,256
121,775Tol. Peoria <fc War.March
91.257
108,845
263,788
334,189Union Pacific
679,70S 1,438,302 1,377,268
747,761
.February.
Wabash
4th wk Mar 113,275
140,802
978,738 1,082,362.
Average amount of
Banks.
Capital.
*
New York
Manhattan Co...
Mechanics’
Merchants
Union
Ameiica
Phoenix
2,000,000
2,050,000
2,000,000
2,000,000
People’s
1,200,000
3,000,000
1.000,000
1,000,000.
1,000,000
600,000
300,000
1,000,000
1,090,000
300,000
300,000
200,000
600,000
300,000
800,000
5,000,0(H)
5,090,000
1,000,000
1,000,000
422,700
1,500,000
450,000
412,500
North America..
Hanover
1,000,000
City—
Tradesmen’s
Fulton
Chemical
Merchants’ Exch.
Gallatin Nation’l
Butchers’&Drov.
Mechanics’ & Tr.
Greenwich
Leather Man’f’rs
Seventh Ward...
State of N. York.
American Exch..
Commerce
Broadway
Mercantile
Pacific
Republic
Chatham
700,000
500,000
Irving
Metropolitan
3,000,000
Citizens’
Nassau
Market
St. Nicholas
Shoe & LeatherCorn Exchange..
Continental
Oriental
Marine
Importers’ & Tr..
Park
Mech. Bkg. Ass’n
Grocers’
North River..
East River
...
Manuf’rs& Mer..
Fourth National.
Central Nat.
Second National.
Ninth National..
First National...
Third National
N. Y. Nat, Exch..
..
600,000
1,000,000
500,000
500,000
500,000
1,000,000
1,000,000
300,000
400,000
1,500,000
2,(890,000
500,000
300,000
240,000
250,000
100,000
3,200,000
2,000,000
300,000
750,000
500,000
1,000.000
•
Bowery National
N. York County..
Germ’n Americ’n
Chase National..
Total
300,000
250,000
200,000
750,000
300,000
Loans and
discounts.
$
7.523.200
5.293.300
5.900.600
5.877.300
3.954.400
7.825.600
2,492,000
7.346.300
2.938.400
1,467,800
11,205,300
2.904.300
3.356.600
1.202.600
1,186,000
763.400
2.570.100
849,000
1.484.500
Specie.
$
Net. dep’ts
other
tion U.S.
1,495,000
7.557.500
621,600
494.200
656.400
283.800
5:13,700
266,000
755.200
370.600
3.673.700
4,761,900
455.600
712,000
276,000
1,133,000
516,(K)0
220.800
195.400
818.400
196.700
1,5(84,000 2,060,200
203.100
381.500
80.900
336,900
148,7(K)
181,700/
26,000
206,000
4.189.800
2.838.500
5.106.300
2,195,000
7,091,500
1,730,000
1.141.500
10,654,000
2.166.400
1,646.41 tO
995,000
919,000
765.800
2,054,500
19.600
153.100
200,800
407.200
64,4(H)
9,600
329.700
55,700
94.900
106.300
47.500
62,000
436.100
113.300
512,000
131.500
388.300
703,000
1,373,000
630.500
411.500
31(5,300
402.500
615.100
155.700
192,000
584.800
256.200
1,420,(t(Ht
4.677.700
1.795.500
7,349,000
122.200
305.000
1.588.500
17.500
27,000
21,000
329,000
142.100
366.100
184.700
291,000
183,000
797.400
150,000
483,000
3.220.700
2,388,000
41,300
121.500
105.700
61,700
89,800
1.680.700
868,000
442,000
535.800
612.300
1.741.100
1,620,000
786.800
2,600,000
973,000
1,286,4(H)
217,000
3.256.400
77.600
44.100
42.100
28,000
1,344,2(H)
2,277,000
14.690.600 1,006,000
681,600
10.662.600
69,000
531,100
12.100
504,900
53,000
759,300
751.400
82,100
407,200
1,000
12,709.900 1,089,400
427,000
7,266,000 i
163,000
2,213,000
216.300
3.411.700
6,002,000 1,296,600
835,000
5.633.700
49.900
1.405.400
28,000
1,164,000
14.900
1,085,200
133,800
1.864,-700
3,088,100
66.400
.
Circula¬
tlon*
$
584.800
472.100
10,993,000
15,121,100
5.359.500
3.394.200
2,068,500
3,(884,200
3,081,000
1,323,600
1.738.700
5.155.100
2,058,500
11,059,000
1.512.100
2,056,000
2.104.200
1.425.100
2.983.500
3.550.200
Legal
Tenders.
517,7001
173,5001
740.600
1.376.100
6,981,000
6.823.800
3,605.200
3,024,800
1.825.100
2,008,100
2,906,000
1.135.100
1.483.100
1,810,600
44,000
500
81,300
44,500
130,0001,100
257,000
775,900.
470,700
530,800262,600
98,000
2,700
337.800
37,50045,000
179,000
1,652,400896.800
179,900
045,900
399,300
5,400
360,000
201,600-
2,236,000
247,200
3,900
353,000
450,000
447,000
4,700
3,077,900
1.162.500
780,300-
2,052,000
353,100
1,104,100
15,4:19,000
12,284,000
404,500
534,500
307,300
485.600
703.200
540.600
401,400
143,800
10,759,700
5.500,000
1,048,800
2.364,000
3,236,000
8,028,000
5.367,600
801.200
1,469,000
269,000
357,000
45,000
799,400
269,(K)0
211,000'
790.000
224,700-
831.400 j
1.131.300
1.579.400
1.596.400
180,000
222.800
300,800;
270,(00
60.875,200 235.a36.600 18,365,000 31.815,8001193,121,700 19,635,500
The deviations from returns of
previous week are as follows
Loans and discounts
Dec. §4,621,960
Specie
Legal tenders
Dec.
81,800 Circulation
Dec. 2,453,100
Net deposits
:
Dec. §5,823,900.
Inc.
123,400
374
THE
CHRONICLE.
[Vol. xxvur.
OF STOCKS AND
BONDS IN NEW YORK.
'
quoted on a previous page.* Prices
represent the per cent
value,
whatever the par may he.
STATE BONDS.
QUOTATIONS
SECURITIES.
Bid.
Alabama—5s, 1883
5s, 1886....
8s, 1886
8s, 1888
8s, Montg. & Eufaula RR.
8s, Ala. & Chatt. RR
8s of 1892
8s of 1893
Class A, 2 to 5
Class B, 5s
Class C, 2 to 5
Arkansas—0s, funded
7s, L. Rock & Ft. Scott iss.
7s, Memp. & L. Rock RR
7s, L. R P. B. & N. O. RR.
7s, Miss. O. & R. R. RR...
7s, Arkansas Central RR.
6
20
20
"
20
!
1
1
1
1
1
104
101
....»
101%
110%
110
109
101
coupon, 1879...
Illinois—War loan
;
Louisiana—6s
110%
Missouri—6s.
6s, due 1886
Susquehanna
do
do
pref.
Torre Haute &
Indianapolis
United N. J. RR. & Canal
..
New
due 1882
1
Funding,
20
48%
49%
49
106
115
.
do
do
do
1st
m.
2d mort..
3d mort..
1st con., guar
Rens.& Saratoga, 1st,coup
do
157
1st, reg.
Denv.& R. Grande—1st, 1900
Erie—1st mort., extended..
2d mortgage,
7s, 1879
3d mortgage, 7s, 1883
1%
1%,
4th mortgage,
150
7s, 1880
5th mortgage, 7s, 1888
159
ir>9%;
7s, cons., gold bonds, 1920.
37%
ex
coup.,Sept.,’79 & prev
lOo"' Long Dock bonds
Buff. N.Y.& E, 1st
m., 1916
....
—
N.Y.L.E.&W.,n.2d,con.,6s
do
1st, con., f, cp.,7s
■
‘I
135%
,
do
2d,con.,f.cp.,5s,6s
Han. & St. Jos.—8s, conv...
.
Funding act, 1866
do
....
102%
103% 104
New
103%
104
104?4
105 y4
bonds,
HO
Ohio—6s,
6s, 1886
95
98
1
1
1
99%
493
4
4118
89
4
AND
m.,
....
„
„
.
.
120
....
89%
121
....
102% 103%
4106% 107
102% 102%
114
....
70%!
Land Com.,
do
7s of 1888
10
10
10
10
'
|
j
•
!
22%"
22%
1889, J. & J...
1889, A.&O...
ftiu]
4
6s,
6s,
6s’
15
8
ex
matured coupon....
D. of
Small
1924.
1st,E.D
1st, W. D.
•
•
•
•
•
•
•
*
*
4
'
*
*
•
•
•
*
T%
.
OQlT
31
....
....
75
56%
57%
....
Columbia—3‘65s,
7%
82% 83%
82%
83“
BONDS.
98%
97
111 %
:St.L.&San F.—2d m.,class A
2d mortgage, class B
do
class C
100
98
Bur. Div.
for 2d mort.
104%
1st m., St. L. div
do
ex mat. coup
84"
2d mortgage
4100
do
ext’d, ex coup
79%
Equipment bonds
410
Consol, convertible
101
100
£5"
40
104"
sik
70
45
42
57
105
78
95
86
88
98
65
82
Br.—6s, gld.
83%
47
45
108
82
100
92
92
87
85%
Southern Securities.
(Broken*' Quotations.)
STATES.
So.Carolina—Con.,
6s (good)
75
Rejected (best sort)
82
Texas—6s, 1892
M.&S. +103'
7s, gold, 1892-1910 J.& J. +112
7s, gold, 1904
J.& J. +113
10s, pension, 1894...J.& J. +100
105'
106% 106%;
113
C.lst
115
Dub. & Sioux C., 2d div...
4107"
so"
106
106 j
102
Cedar F. & Minn., 1st m.,
4
12
49
99%
|
Indianap. Bl. & W.—1st m.. 422
CITIES.
47
48
2d mortgage
do
ex coupon
57"
Atlanta, Ga.—7s
100% 100% Lake Shore—
97
Gt. Western, 1st m., ’88...
100
Quicksilver
8s
12% 13%
105
Mich
107
do
S.
do
&
N.
do
pref
Ind., s. f., 7s. 111
103"
excp.
Water
works
34)4
111%.
97
do
Cleve. & Tol., sink. fund..
102
2d m., ’93
Atlantic & Pacific Tel
4100
37
Augusta,
109%
Ga.—7s,
bonds
103
37%
110%;
do
105
do
American District Tel.
do ex coup
new bonds.
108
79% 80
109
Charleston, S. C.—Stock, 6s. 55
Gold & Stock
60
Cleve. P’ville & Ash., old.
Quincy & Tol., 1st m.,’90..
Telegraph....
7s, F. L
78" 80"
102%
103%:
do
62
Canton Co.. Baltimore
do
do ex cp.
new
92' Columbus, Ga.—7s, bonds..
30
45
Illinois & So. Ia., 1st m
60
Buffalo & Erie, new bds... 111% 113
American Coal
Macon—Bonds,
7s
55
Buffalo & State Line, 7s.. 111%
65
do
1st m., ex coup
Consolidation Coal of Md..
85
4100
Memphis—Bonds, C
20
West. Un. Tel.—1900,
30 l
Kal’zoo & W. Pigeon, 1st.
Cumberland Coal & Iron....
111
coup.
A and B
Bonds,
4101%
20
30
1900, registered
Det.Mon.& T., 1st, 7s,’1906 4
Maryland Coal
Endorsed M. & C. RR
4111?4‘112
25
114%
Lake Shore Div. bonds...
35
INCOME BONDS.
Pennsylvania Coal
130 "
Compromise
111% 112%! Central of N. J.,
30
do
45
Spring Mountain Coal
cons, coup., 1st
1908
l
117
60
Mobile—5s, coupons on
8
Leh. & Wilkes B.
do
Mariposa L’d & Mining Cocons, reg., 1st..
8s, coupons on
24%
2%
116% 116% St.L.I.M.&S..lst Coal, 1888
8
do
do
cons.
do
7s,pref.int.
JJ
coup.. 2d. 110
65
pref.
6s, funded
J
20
Ontario Silver Mining...,
do
do 2d int.,6s, accum’e
30 *
cons. reg.. 2d
110
Montgomery—New 5s
40%* ii” Louisv.& Nash.—Cons. m.
1
50
Homestake Mining
3s
32
,7s 107% 108%i
2d mort., 7s, gold
40
Standard Cons. Gold
Miscellaneous
List.
100
Mining
35
101
old
34%
?4
72
Nasliv. & Decatur, 1st, 7s.
Pullman Palace Car
81
(Brokers' Quotations.)
80
104
6s, new
80
106%
90
Marietta & Cin.—1st mort
New Orleans—Prem., 5s
87
CITIES.
23
1st mort.,
25
Railroad. Bonds.
sterling
Consolidated, 6s
31
Albany, N. Y.—6s, long
105
33
Stock- Exchange Prices.
108
Metropolit’n Elev—1st,1908 97"
Railroad, 6s
28
97%
Buffalo—Water,
Mich.
111
long
Bost. H. & Erie—1st m—
114
Cent.—Cons., 7s, If
Norfolk—6s
117
30
11H
34
100
Chicago—6s, long dates
1st mort., 8s, 1882, s. f..
108*'
+105
1st mort., guar
106
107
30
110
Petersburg—6s
7s, sewerage
97% 100
Bur. Ced.R.s
Equipment
bonds
+110%
8s
111%
4100
North.—1st,5s
74
7s,
water
74% Mo.K.& T.—Cons. ass. .1904-6
107% 110
+111
112
Minn.& St. L., 1st, 7s, guar
Richmond—6s
95
58% 58%
7s, river improvement.... +110%
2d mortgage, inc., 1911
!03%
Chesap.& O.—Pur. m'y fund
11134 Savannnah—7s, old....
95
26%
75
26%
H.
Cleveland—7s,
&
long
+111
77
Cent.
114
Mo..< 1st., 1890. 100
6s, gold, series B, int. def.
7s, new
;
75
35%
Detroit—Water
36%
New
works,
7s..
77
+112
6s, currency, int. deferred
Jersey South’n—1st, 7s
113% Wilm’ton,N.C.—6s, g., cp.on
10
45
11
Elizabeth City—Short
45
55
Consol., 7s, 1903
Chicago & Alton—1st mort. 4115 118
4
8s,
gold,
15
coup,
on
Long
N. Y. Central—6s, 1883
40
44
106
4104
106% Hartford—6s, various
102
6s, 1887
107
106
106
RAILROADS.
106%
6s, real estate..
Indianapolis—730s
Joliet & Chicago, 1st
+105% 109
m...|
4104%
Ala.&Chat.—Rec’rs ctfs.var
Long Island City
20
+90
6s, subscription
100
Louis’a & Mo., 1st m., guar
60
4103"
Atlantic
104%
& Gulf—Consol...
Newark City—7s, long
100
N. Y. C. & Hud., 1st
St. L. Jack. &
106
110
102
m., cp. 121%
Chic., 1st m. 107
Consol.,
end.
Water,
7s,
by
Savan’h
30
long
do
+111
Chic. Bur. & Q.—8 p.c., 1st m
116
1st
40
m., reg.
4111
Cent. Georgia—Cons.
112
121%
Oswego—7s
Huds. R., 7s, 2d m.,
mM 7s 109
+101
Consol, mort., 7s
103
112
4108
Stock
116% 118
Poughkeepsie—Water
73
Canada South., 1st, s.f.,’85i4i08
+111
113
5s, sinking fund
76
int. g.
80
Charl’te
Col.&
80%
90
1903
Rochester—Water,
A.—Cons.,
7s
+113
Chic. Rk. I.& P.—6s,
115
Harlem, 1st m., 7s, coup., 123%
95
1
2d mortgage, 7s
cp.,1917
113“
Toledo—8s,
60
do
water,
1894
1st
+108
115
6s, 1917, registered
65
m., 7s, reg— 123%
East Tenn. & Georgia—6s..
7 30s
113
....1
N. Y. Elevated—1st,
90
105
Keok.& Des M., 1st, g., 5s. 112%
+101%
7s, 1906 106%
90
E.Tenn.& Va.—6s,end.Tenn
90% Ohio & Miss.—Consol,
95
Central of N. J.—1st
+111
106%; Yonkers—Water, 1903
113
100"
s. f’d
107
E. Tenn. Ya. &
m., ’90.
114% 115%
99
Ga.—1st, 7s
1st consolidated
Consolidated
101
107
103
Stock
105
108
2d
RAILROADS.
37
consolidated
do
42
assented.
93% .... Atchison & P. Peak—6s,
Georgia
RR.—7s
85%
85%
1st
113
m.,
117
Convertible
Springfield div
gld
92
98
6s
4103
Bost. & N. Y. Air-L—1st m
106
Pacific
do
Railroads—
107
104
assented
Stock
84% 86
California Pac.—7s, gold.... 107
Central Pacific—Gold bds.
83
87
11'i" Greenville &
Adjustment, 1903
1st m.
San Joaquin Branch.... 109% :109%|
6s, 2d mortgage, gold
90
Lehigh & W. B., con., g’d.. * 101% 101%
92
100
7s,
97
guar
76
Cent,
of
35'
Cal.
la.—1st
& Oregon, 1st
m., 7s, gold
do
42
48
52
assent’d
Macon & Aug.—2d, endors.
498
49
52
Chic.& Can. So.—1st m.,g.,7s
96
State Aid bonds
Am. Dock & Impr. bonds,
100
60
62
'
64
Memphis& Cha’ston—1st,7s
1106
70
Chic. & East. Ill.—1st m., 6s
95
Land grant bonds
100
do
85
90
assented
64
2d, 7s
97%
2d mortgage, inc., 7s...
79
Western Pacific bonds..
Chic.Mil.& St.P.—1st,8s,P.D 124
80
38
45
Stock
125
104%
Chic. St. P.& M.—6s, g., new
5
South.
2d mort., 7
Pac.
of
7
Cal.—1st
94
m.
96
94
3-10, P. D
110
Memp.
&
Lit.
108%
Land
38
Union
Rock—1st,
4s.
1st m., 7e, $ gold, R. D....
grant, 6s, gold....
Pacific—1st mort.. lOff
41
50
52
108
109
iMississippi
Cent.—1st
109%
Chic.& Southwest.—7s, guar
100
m.,7s
Land grants, 7s
1st m., La C. Div
105
97
110
2d
109
ex coupons.
Cin. Lafayette & Ch.—1st m
1st m., I. & M
97% 99%
Sinking fund
82
34" Miss.mort.,
113
107
& Tenn.—1st m., 8s, A 112
113% Cin.& Spr.—1st. C.C.C.&I.,7s
1st m., I. & D
114
8s
Registered,
87
90
1st mortgage, 8s, B
103
112
1st m., g’d L. S. & M. S., 7s.
Pacific RR. of Mo.—1st m.
87
1st m., H. & D
92
99
101
Mobile &
105% 106
1033-6
Col.& Hock.V.—lst,7s,30yrs
70
2d mortgage
1st m., C. & M
8s
75
106
+104%
110?
Sterling,
ex
105%,
106
him
cert.,
6s
70
1st,
10
7s,
Con. sinking fund
Income, 7s
years
75
+99
101
8s, interest
1033 103%
1st m., Carondelet Br...
55
2d, 7s, 20 years
2d mortgage
65
+91
93
100
2d mortgagees
Dan. Urb. B1.& P.—1st, 7s,
12
South Pac. of Mo.—1st m.
1st m., 7s, I. & D. Ext
15
45
g.
50
New 1st mortgage
94%
10156 102%
Denver Pac.—1st,7s,Id. gr.,g
79
Kansas Pac.—1st m.,6s,’95
Chic. & Northw.—Sink f’d.
80
58
62%
New debentures
108%
Erie & Pittsburg—1st m., 7s
1st m.,6s,’95,with cp.ctfs
27
Interest bonds
30
100
N. O. & Jacks.—1st
4106
115%
Con. mortgage, 7s
107%
1st m., 6s, ’96
m., 8s...
Consol, bonds
108% 110
95%
97%
118
117%
Certificate,
2d
do
7s,
98
mort.,
8s...
with
Extension bonds
102
equipment
coup, ctfs 115%
78
Nashville Chat.& 8t. L—7s.
4105%
Evansv. & Crawfordsv.—7s. 102"
1st m., 7s, Leav. br., 96..
98
1st mortgage
99
107
108
1st, 6s, Tenn. & Pac. Br...
Evansv. Hen. & Nashv.—7s.
do
with
41
50
coup, ctfs 453"
Coupon gold bonds
109
1st,
6s,
Evansv. T.H. & Chic.—7s, g
McM.M.W.&Al.Br.
1st m., 7s,R.&L.G.D’d,99
Registered gold bonds....
55
Norfolk & Petersb.—1st, 8s. 104
iFlint & Pore M.—8s, I’d gr’t *85
109%
do
Iowa Midland, 1st
with coup, ctfs
107
95
m., 8s..
1st mortgage, 7s
Galv. Hous.& H.—7s, gld,’71
1st m., 7s, land gr’t, ’80.. 107% 108
99
Galena & Chicago, exten.
103
83
85
2d mortgage, 8s
106'
Gr’nd
104%;
95
do
with
R.&Ind.—lst,7s,l.g.gu 100 103
Peninsula, 1st m., conv... 110
97%
coup, ctfs 114% 114%
Northeast., S. C.—1st m., 8s. 110 114
2d mort., ’86
Chic. & Milwaukee, 1st m.
1st, 7s, Id. gr., not guar
87
2d mortgage, 8s
4112
117%
1st, ex land grant, 7s
94
do
Winona & St. P., 1st m
with coup, ctfs 467
60
106% 108
Orange & Alex’a—lsts, 6s..
Grand River Val.—8s, 1st m
Inc. coup. No. 11 on 1916
91
do
lOO'*
+102
105
2dm....
43%
2ds, 6s
C. C. C. &
Hous.& Gt.N.—1st,7s,g.,ctfs
Inc. coup. No. 16 on 1916
86
90
78
82
Ind’s—1st, 7s, s. f. 115 101%l
116
43% 43%: Hous. & Tex. C.—1st, 7s,
Bds, 8s
Den. Div. Trust
45
Consol, mortgage
47
gld 103% 105
rec’pts. 107% 108 i
4ths, 8s
95% 96%
Western
Del. Lack. & West.—2d m..
Div
14
Detached coup,
16
do
97
99
94
Rich.& Dan.—1st consol., 6s
103%
Waco
Pennsylvania RR—
7s, convertible
85% 87
98
100
103
Southw. Ga.—Conv., 7s, ’86. 105
Consol, bonds
Pitts.Ft.W.& Chic., 1st m. 122
110
Mortgage 7s, 1907
92
Stock
105%
do
83
Indianapolis & St.L.—1st, 7s
Syr. Bingh. & N. Y., 1st, 7s
do
90
2dm.. 120
70
80" S. Carolina RR.—1st
103
122
do
97
m.,
Morris & Essex, 1st m
7s.
do
Indianap.&
Vine.—lst,7s, gr 90
3d m.. 114
99%
96
120%
7s, 1902, non-enjoined
Cleve.&
30
International
do
2d mort...
Pitts., consol., s.f.
(Tex.)—1st, 7s
79
83
117' Int. H. & Gt. No.—Conv.,
7s, non mortgage
108.%
do
do
25 *
4th mort...
8s
23
b’nds, 1900
Sa'van’h & Char.—1st m., 7s.
111
Col. Chic. & I.
Jack.L.& S.—8s, 1st,“white” *109
do
C.,
1st
con..
construct’n 480 ‘
Cha’ston
62
61?4
110%
&
86%
Sav.,
do
6s,
end..
30
Long Island—1st mortgage. 105 107
do
40’*
do
2d con.,
7s of 1871
105
West. Ala.—1st mort., 8s... 108
22
Montclair & G.L.—1st, 7s, n.
do Tr’t Co.ctfs.1st
do
110
1st con., g’d.
30
con
57
94
2d mort., 8s, guar
60
N. J. Midland—1st, 7s,
Rome Wat. & Og.—Con. 1st.
108
110
gold.
35
30
4*6"
97?
N. Y. & Osw. Midl’d—1st m.
St. L.& Iron
1st mortgage, 1891..':
Mount’n—1st m 109%
8% 10
97? i 09
PAST-DUE COUPONS.
2d mortgage
4.
Receiver’s
do
certif’s,
labor,
35
extended
♦
40
497
100
95
iTennesssee State coupons.
Arkansas Br., 1st mort
do
12
Coupon, 7s. iso*
other
+1
20
30
4
f’ 17%iH
93
South Carolina consol
An
Oswego & Rome—7s, guar..
td Art
40
i
*
95
92% 96
Peoria PoVin &
Virginia
Prices uuuuuai.
coupons.
20
.T.—lstm...’ *25
+ aV.hu acci'utju
40
do
consol, coupons...
esi,
t JSv price
80% 82
to-day; tuese are latest quotations
made this week.
Miscellaneous
St’ks.
jlll.Cent.—Dub.&Sioux
Adams Express
American Express
United States Express
Wells, Fargo & Co
*
*
*
•
.
....
»
.
..
•
•
•
.
'
....
....
....
....
..
....
Nashville-^6s,
I
....
..
....
-
f
—
-
....
—
.
.
•
.
.
....
....
....
....
«...
*
*
*
„
„
T
„
-
-
-
_
1
....
—
•••••••
Coi.—7s,
....
*
.
Ohio—Sterling,
^108%
—
i
...
—
Del.&Hud.Canal—lstm.,’84
mil
•
...
..
.
..
.
*
'***
I*
34
new, 1867
consol, bonds
•
*
1
....
7s1 111%
105% 105%
1st pref. inq.
114% 116
1st inc, for consol
114% 116
Tol.& Wabash.—1st m., ext.
68% 68%
1st m., ext’d, ex
coupon..
....
'
•
St. L. Alton & T. H.—1st m.
St.L.fc S.E.—Cons., 7s, g.,’94
111% 115
2d mortgage, pref
St.L.Vandalia& T.H.-lstm
2d mortgage,
82%
do
income
guar
I
Sand. Mans. & Newark—7s..
Belleville & So. Ill., 1st m. 4105
South
Tol. Peo. & W.—1st
Side (L. I.)—1st mort
m., E.D.
South Minn.—1st m.,
1st mortgage, W. D
7s, ’88.
1st
Burlington Divmortgage, 7s (pink)—
Tol. Can. S.& Det.—1st,
2d mortgage, 1886
7s, g
Union & Logansport—7s
Consol., 7s, 1910
Union Pac., So.
Pur. Com. rec’pts,
do
do
107
•
*2
109
l
105
'
•
....
Cairo Ark. & T., 1st mort.
476
100% 101
St.L. K.C & N—R. E.&
R.,7s
98%
100% 101
Omaha Div., 1st
mort., 7s, 96%
112% 113%
North Missouri, 1st
104
*
103%
STOCKS
110
25
10
10
Ask
35
28
28
13%
13%
...
.Tilly
109
8%
8%
class 3
1881.
Bid.
Island—6s,coup.’93-9
Jan. A*
106
105
85
85
1868
J. & J
Rhode
.....
22%
22%
do
A.^O...
Chatham RR
Special tax, class 1
do
....1 :
110
106
120
121
122
.
coup, off, J. Si J.
coup, off, A.& O.
1TYISCELLAIVEOIJS
Hud.Can.—Reg.7s,’94
Albany & Susqueh.,
1893.
Securities.
|
Carolina—6s, old,J&J
do
do
101
’83
do
6s, old, A.& O
No. Car. RR., J. & J
do
A.& O
1894-95
AND
6s’
iNorth
Ask.!
St. Jo.,’87.
6s, loan, 1883
6s, do 1891
6s, do 1H99....
37
or
Bid.
York—6s, gold, reg.,’87
6s, gold, coup., 1887
37
37
37
37
37
37
1st Pa. div., coup.,
7s, 1917
do
reg., 7s, 1917
86
....
Burl. Cedar Rapids & No...
Chesapeake & Ohio, 1st prf.
do
do
2d pref.
Chicago & Alton, pref
Dubuque & Sioux City
Harlem
Long Island
Louisville & Nashville
Nashville Chat. & St. Louis.
New Jersey Southern
N. Y. Elevated, ex
priv
y. Y. New Haven & Hartf.
>hio & Mississippi pref
^itts. Ft. W. & Cnic. spec’l.
Rensselaer & Saratoga
St. Louis Alton & T. H
Missouri—Han.&
6s, due 1887
6s, due 1888
6s, due 1889 nr ’90
Asylum or Univ., due ’92.
Del.&
(Active previously quoted.)
1
SECURITIES.
Kentucky—6s
RAILROAD
&
Ask.
Hannibal & St. Jo., 1886..
Ballroad Stocks.
Albany
Bid.
|
55
7s, new
7s’ endorsed
7s, gold
Illinois—6s,
11
48%
Connecticut—6s
Georgia—6s
SECURITIES.
:
6s, new
6s, new floating debt
7s, penitentiary
6s, levee
*.
i 8s, do
I 8s,
do of 1875
8s, of 1910
j 7s, consolidated
| 7s, small
1
Michigan—6s, 1879
| 6s, 1883
| 7s, 1890
72
.
!
Ask.
48%
48%
48%
48%
are
j
JJ. 8. Bonds and active Railroad
Stocks
THE CHRONICLE
12, 1879.]
.April
SECURITIES.
LOCAL
NEW YORK
375
Insurance Stock List.
Stock List.
Bank
[Quotations by E. 8. Bailey, broker.7 Pine street.]
Capital.
Companies.
Pbice.
Dividends.
Surplus
latest
dates. §
Net
at
Marked thus (*)
are
efl
opt Nat’l.
fh
Amount
Capital.
Bid. Ask.
Last Paid.
Period 1877. 1878.
8
7
~9
Tb
100
6
10
8
6%
10
6
....
0%
....
J.&
•
10
6%
10
7
.
.
’79.25
Jau.,
,,,,
6
Jan.r*79
....
.,,,
6%
7%
7
8
2
9
2%
7%
6
7%
6%
10
6
I*
.
......
“
99%
’17* 3"
*79. 3% 101%
Jan., ’79. 7
2v2%
Jan., ’79. 4
,
Jan., ’78.
Jan., *79.
Feb., ’79.
July, ’75.
Jan., ’76.
Jan., ’79.
Jan., ’79.
Nov., ’78.
Nov., ’17.
3
3%
3%
70
5
S%!
4
2
127
130
60
10
12
5
7
8
8
10
10
6
8
6
Jan., ’79. 4
100
134
U6% 117%
’79..6
Nov., ’73. 2% 80%!
121% 125
•lan., ’79. 4
jan.,
...
’79. 4
Jan.
Feb., ’79. 4
Jan., ’77. 3
July, ’77. 3
Ja j
Jan
.,
,
’79. 3%
’79. 4
Feb., ’79. 2%
75
85
71%
71%
129
98
3
3%
3
3%
6
99%
Feb.,’79. 3
Aug. ’77. 2%
*3* July, ’78. 3
9
Jan., ’79. 4
10
120
Jan., ’79. 4
6
Jan., ’79. 3
7
Nov., ’78. 3%
3
Jan., ’78. 3
7% Jan., ’79. 3%
10
Nov., ’78. 5
8
Ja i., ’79. 4
’79.
Jan., ’79.
Jan
”79.
•July, ’74.
■i
an.,
100
,
100
98
Gas and
CIty Railroad Stocks and Bonds.
a
[Gas Quotations by George H. Prentiss, Broker, 24 Broad Street
Gas Companies.
Par.
Brooklyn Gas Light Co
25
20
Citlzens’Gas Co (Bklyn)
aertiticates
Manhattan
Metropolitan
V
certificates
Mutual, N. Y..
Var.
750,000 J. & J.
4,000.000 J. & J.
2,500,000 M.& S
1,000,000 M.&S.
r.
5,000,000 Quar.
1,000 1,000,000 F.& A.
Var
25 1,000,000
Nassau, Brooklyn
do
Var.
320,000 A.&O.
1,850 000 F.&A.
100
bonds
Ya
100
10
scrip
New York
1,200,000
50
20
50
100
Jersey City & Hoboken
do
2,000,000
1,000
Harlem
ao
Amount. Period.
700,000
4,000,000
1,000,000
1,000
325,000
Var.
300,000
50
466,000
50 1,000,000
Yar. 1,000,000
100 1,000,000
100 1,500,000
.
People’s (Brooklyn)
do
do
do
bonds
do
certificates.
Central of New York
Williamsburg
do
scrip...
Metropolitan, Brooklyn
Municipal
M.&N.
M.&N.
f. & J.
M.&N.
J. & J.
F.& A.
Quar,
J. & J.
M. &N.
[
Rate.
5
3
Date.
*
Broadway db Seventh Ave—stk..
1st mortgage
Brooklyn City—stock
1st mortgage
900,000 J. & J.
694,000 J. & J.
100
1,000
100 2,100,000 Q-J.
1,000 1,500,000 J.&D.
10 2,000,000 Q-F.
1,000
300,000 M.&N.
100
200,000 Q-J.
Broadway (.Brooklyn)— stock..
100
Brooklyn dk Hunter’s Pt—stock.
400,000 A.&9.
1st mortgage bonds
1,000
300,000 J. & J.
100
Bushwick Av. (Hklyn)—stock.
500,000
100 1,800,000 J. & J.
Ventral Pk., y.dk E. River—stk
Consolidated mortgage bon s. 1,000 1,200,000 J.&D.
100 1,200,000 Q-F.
Dry Dock, E. B. dk Battery— stk.
500&C
1st mortgage, cons’d
900,000 J.&D
100 1,000,000 I. & I.
BSghth Avenue—stock
J.
1st mortgage
1,000
203,000
100
2d St. dk Grand St ferry—stock
748,000 M.&N.
1st mortgage
1,000
236,000 A.&O.
Central Cross 'lown- stock.
lit mortgage
Houston, West st.dkPav.F’y—etn
1st mortgage
Second Avenue—stock.
3d mortgage
Cons. Convertible
...
Extension^
jkxih Aveiitie- stock
1st mortgage
third Avenue—stock
1st mortgage
ltvenly-f.hird Street—stoeg
1st mortgage
t
100
600,000
.
1.000
250.000
Jan., ’19 138
Jan., ’19 70
,
142
78
100
45
150
195
125
100
75
100
76
93
105
30
96%
85
70
85
95
60
125
•Over all liabilities,
*
City Securities.
7
2
7
J’ly.1900, 85
Jan,
’79!
59
June, ’84 100
3% Feb., ’79 130
7
Nov., ’80 102
3
Jan., ’79 135
3
7
Oct., ’76 90
100
1888
85
Jan.. ’79 34
90
Dec.1902
Feb.,’79 85
Juue, ’93 10 L
Jan., ’r9
Jan., ’84
100
Nov., ’78 130
Apr., ’93 105
Nov.1904
97%
10
80
30
85
July, ’94
Apr., ’18
Apr , ’85
May, ’88
Sept..’83
May. ’77 75
July, ’90 105
Feb., *79 118
luly,’90 92%
Feb ,’79 95
r.
’93 ino
20
90
62*4
101
140
110
150
100
102
90
40
96 i
88
105
100
110
137
115
40
101
20
86
32%
90
15
75
85
115
125
100
100
103
of maturity of bon as.
Price.
Interest.
NtW York:
Water atock
5
6
5
6
6
7
6
5
6
7
6
7
6
7
1841-63.
1854-57.
do-
Croton water stock.. 1845-51.
..1852-60.
do
do
Aqued’ctstock. 1865.
pipes and mains...
repervolr bonds
Central Paik bonds.. 1853-57.
Croton
do
do
do
..1853-65.
uo
.1S70.
1:75.
1865-68.
Impr Dvement stock.... 1869
ao
do
....1869.
Consolidated bonds
var.
do
do
do
do
do
do
do
do
1878-1879j 100
May & November.
Feb., May Aug.& Nov.
do
do
do
do
May & November.
May & November,
do
do
do
do
do
7
do
do
do
do
do
January & July,
?‘*
do
do
[Quotations by N. T. Beers, Jr., Broker, 2%
BruoKlyn -Local
impr’em’t—
do
P.,rk bonds
Water loan bonds
8f|,1prp honds
fjlty non ns
°do
..
>
do
7
7
7
7
7
6
6
7
6
Bid. Ask
Feb., May Aug.ft Nov. 1878-1880 100
6g-
Street imp. stock
var.
do
do
var.
New Consolidated
Westchester County... ....
Bonds
due.
Months Payable.
Rate.
do
1% Jan., *79j 10
t Inclusive of
[Quotations by Daniel A. Moran, Broker, 40 Wall Street. J
Market stock
i
including re-lnsurance, capital and scrip,
• •
scrip.
Dock bonds
•This column Ihows last dividend ou stocks, but the date
Jan!,’
•
Bid. Ask.
3% Apl.. ’79 95
3
Feb., ’78 35
7% Jan., ’79 140
5
Feb
’79 187
5
Feb., ’79 115
3* Feb.. ’79 95
1% Apl., ’79 70
98
6%g
3
Jun.. ’79 72
3% Nov., ’78 90
4
Nov., ’78 100
3% Jhd., ’76 25
90
3*
3% Jan, ’79 75
3
Feb , ’19 60
2
Jan., ’79 75
3% Jan.. ’79 85
2% N*'V., ’18 52
3
Feb., ’79 115
200,000 M.&N.
100
250,000
500
500,000 J. & J.
100 1,199,500 Q.-F.
150,000 A.&O.
1,000
1.000 1,050,000 M.&N.
00&c.
200,000 A.& O.
J00
750,000 M.&N.
1,000
415,000 J. & J.
100 2,000,000 Q-F.
1,000
,000,000 J. & J.
100
600,000 f & J.
1,000
.
i20*
.
[Quotations by H. L. Grant, Broker, 145 Broadway.]
Weecker st.dk Fulton* err y—stk.
1st mortgage
.
ig*
5 The figures in this column are of dtte Jan. 1, 1879, for the National banks, and
15, la79 .for the State banks.
Of date Mch.
,22
jan..
\fc
.
4
3%
Nov., »7*. 3
Jan.,’79.
3%
6%
Jdn., ’79. 2 |
.
6
3
6
12
6
10
6
3
Nov., *78. 3
Jan
;tg.io
„
.
,
Jam,
Adriatic
50
25
5
10
200,000
7,107 10
July. ,78. 5
Affitna
72
100
21 25
15
200,000
8% July. 78. 3%
American
1S5
50
14
15
400,000 1494,548 15
Jau
79. 7
American Exch 100
92
ioo
10
10
200,000
69,251 10
Jan., ’79. 5
60
100
Amity
4
N’n? Jan., ’77 4
200,000
1,442 8
70
Atlantic
*77
50
10
10
200,000
37,545 10
July. ’78. 5
200
25
210
20
Bowery
20
300,000 410,567 20
Dec., 78.10
25
20
208
Broadway
200,000 803,641 20
20
E b., 79.IO
180
17
20
Brooklyn
153,000
20
203,041 20
’79.10
^an..
175
Citizens*
20
20
20
300,000 503,769 20
J’*"-.
115
70
125
210.000
10*72 Feb.. ’79. 5
178,380 20
City
120
Clinton
12
100
250,000 150,018 20
Jan.. ’79. 6
Columbia
30
5
N’ne
300,000
11,126 10
July, 77. 5
70
Commerce Fire 100
N*ne Jan., ’77. 5
5
10
200,000
133
Commercial
50
18
25
200,000 170,523 25
Jan., ’?9.10
Continental.... 100
1,000,000 1,038,423 11*45 12*50 13 40 Jan., ’79.6 83 170 175
205
40
20
20
300,000 514.353 30
Eagle
Oct., 78.10
105
100
10
14
200,000 102,001 14
Empire City....
Jau., ’79. 5
105
30
10
15
200,010 121,604:20
Exchange
Feb..’79. 5 12o
50
15
15
200,000 161.067 15
Farragut
Jan., ’79. 7%
17
10
Firemen’s
105
12
204,000
85,825 15
Jan., *79.
50
N’ne luly, ’77.
Firemen’s Fund 10
10
10
150,000
105
11
Firemen’s Tr.. 10
12
150,000
86,618 12
Jan., *79.
Franklin&Kmp 100
200,000 130,330
133
140
io"
German-Amer. 100
10
IQ
1,000,000 815,049
Jan., ’79.
175
50
22
30
180
Germania
500,000 754,424 30
Jan., ’79.
115
50
10
20
Globe
200,000 127,116 20
Jan., ’79.
270
25
30
40
Greenwich
200.000
344,301 40
Jan., ’79
75
100
Guardian..
10
35,343 10
200,000
3%
’79. r;u.
20
140
Ian. ”icj
Hamilton
15
Jan.
20
150,000 124,537
’79. 7% 130
150
1
10
50
Hanover...
10
n.. ’79. 5
500,000 685,899
85
10
90
50
Hoffman...
10
78,847 10
Jan.. ’79. 5
200,000
123
125
100
Home
10
10
3,000,000 1,363.489 10
Jan., ’79. 5
60
25
U0.000
10
15,909 10
10
Hope
Jan., ’79. 3*.
102
.Tan
k
50
106
Howard...
12
10
500,000 206,609 12
Jan., ’79 5
12
105
50
12
10
200,000 111,928
Importers’* T..
Jan., ’79. 5 100
75
80
100
13
32,968 10
10
200,000
Jan., ’79. 5
Irving
30
Jefferson..
10
200,010 t314,003 10
10
cept. ’78 5
160
20
199,901 20
150,000
20
Jan., ’79.10
Kings Co.(Bkn) 20
75
82
Jau
Knickerbocker 40
27,884 10
10
5
280,000
’79. 5
140
150
20
50
20
16
150,000 106,5*7
Jai., ’79 8
Lafayette(Bkn)
100
10
100
10
116,473
10
Lamar.. .|.
200,000
Jan., ’79. 5
80
90
25
10
Lenox
55,005 10
10
150,000
Jan., ’79. 5
160
20
16
Jan., ’79. 8
200,000 281,942 20
LongIsl.(Bkn.) 50
To'
25
10
71,511 10
10
Lorlllard
37%
Jan., ’79. 5
300,000
135
140
12
12
Manuf.& Build. 100
Jan., >79. 6
200,000 202,281 11
112
14
120
20
100
10
Manhattan
250,000 241,421
•Jan., ’79. 5
100
80
25
20
Mech.&Trad’rs
200,000 281,637 30
Jan., ’79.10
165
20
20
50
186,569
20
150,000
Jan., ’79.10
Mech’ics’(Bkn)
80
87
51,386 10
10
50
10
200,000
Mercantile.,
jan., ’79. 5
140
50
20
16
200,006 206,979 20
Merchants’.^
Jan., ’79. 8
115
20
18
114,189
12
Montauk (Bkn) 50
200,(MX
Jan., ’79. 5
165
170
20
20
Nassau (Bklyn) 50
200,000 174,081 25
Jan., ’79.10
105
124.331
16
14
10
National
Jau., ’79. 5
3744 200,(MXV
190
20
20
Ja •., ’79.10
N. Y. Equitable 35
210,000 324,262 20
130
17
14
New York Fire 100
200,000 160,005 20
Feb.,’79. 7
60
65
24,571
N’ne
200,000
N. Y. & Boston 100
65
*
io
55,061
10 * N’ne
New York City 100
300,000
’79. 5
114
12
11
50
Jan., ’79. 6
500,000 455,0)2 10
Niagara
110
11
10
A pi., ’79. 4
North River.... 25
350,000 112,717 12
235
20
30
25
Pacific
Jan., ’79.10
200,000 426,132 30
106
112
200 000
103,552 20
20
12
100
Park
Jan., ’79. 6
185
20
20
20
Peter Cooper... 20
150,000 200,474
Jan., ’79.10
110
i20
20
108,104
18
50
12
150,000
Jan., ’79. 6
People’s
120
126
20
731,322 20
15
1 000,000
Phenix (Bklyn) 50
Jan., ’79 5
200,000
Produce Exch. 100
3% N’ne .Inn., ’77. 3% 65
80
90
10
59,449
50
10
Belief
200,000
Jan., ’79. 5
10
70
75
10
34,673
5
100
300,000
Jan., ’79. 5
Republic
95
13
71,994
12
100
10
200,000
Jan., ’79. 5
Ridgewood
170
20
25
20
200,000 205,204 25
Jan., ’79.10
Rutgers’
i*05 110
103,695
16
100
16
200.000
15%
.'an., ’79 8
Safeguard
75
80
9
10
200,000
Feo.,’79 6
St.Nicholas.... 25
39,020 10
Standard
50
200,000 175 011 11*55 1235 6*23 Jan , ’79.6*23 123 128
105
112
Star
Jan., ’79. 6
100
300,000 171,318 15
17%
85
95
10
!00
49,231 10
Aug., ’78. 5
200,000
Sterling
14
6
20
200,000 144,517
Jan., ’79. 5
25
Stuyvesant
10
20
150,000 181,302 25
Jan., ’79. 5 isb* 140
Tradesmen’s.... 25
125
135
16
12
Jan., ’79. 6
250,000 231,331 16
United States.. 25
105
no
10
10
10
Feb., ’79. 5
300/>00 175,619 10
Westchester...
20
198
20
Jan., ’79.10
250,000 450,317 20
Willlamsb’g C. 50
...
228
Feb., ’74. 3
May, ’18. 5
May, ’77. 8
5
12
8
’ll
95
Nov., ’78. 5
A pi
’79. 3%
...
7
14
8
3
11
S
.
122%
19, 3
Jan*., ’79'. 5*
6
10
7
7
8
5
4
•••
6
Bid, Ask.
Last Paid.
,
91H
87
Jar’., ’76. 3
10
130
Feb;, ’79. 5
3% •’an., ’19. 3%
July, ’76. 3
6
6
7
14
8
.
5
’79. 8
’79. 3
’79. 3%
J^n., ’79. 3
~3
.ft
107
.79;
Nov., ’18.
Jan., ’79.
1876. 1877. 1878.
1879.*
Amount
Price.
128%
Jan',' ’79.*3 *
12
12
.
*79. 4
*78. 3
....
10
..
~
11
16
100
.
Jan.,
Nov.,
Jan.,
Jan.,
Jan.,
Jan.,
6
5%
Q—j.
.
8
12
16
8
8
....
do
Companies.
Par.
100 3,000,000 1,324,100 J. & J.
Am. Exchange 100 5,000,000 1.163.900 M.&N.
100
178,990 J. & J.
Bowery
250,000
25 1,000,000 1,110,3*0 J.& J.
Broadway
Butchers* & Dr. 25 300,000
78,300 J. & J.
291.000 J. & J
100 2,000,000
Central..
Chase
100
24,200
300,000
Chatham
2=4
450,000 150.800 J.*& J
Chemical
100
300,000 3,133,000 Bl-m’ly
25
Citizens’
600,000 139.200 J. & J.
100 1,000,000 1,410,300 M.&N.
City
100
Commerce
='.000,000 2.669.900 •I. & J.
Continental.... 100 1,000,000 383.200 J.& J.
Corn Exch’ge*. 100 1,000,000
813,700 F.&A.
25
54.900 J.& J.
East River....
250,000
11th Ward*....
25
7,000 J. & ,T
100,000
45,2' 0 7. & J.
Fifth
100
150,000
165,100
Fifth Avenue*. 100
100,000
First
100
500,000 1,142,700
100 3,200,000
Fourth
713.200 J.& J.
Fulton
30
600,000 413,400 M.&N.
656,000 A.& O.
50 1,000,000
Gallatin....
German Am.*. 100
42.800 F.& A.
750,000
55,400 May.
German Exch.* 100
200,000
100
55.900 May.
Germania*
200,000
20.800 M.&N.
Greenwich*..,. 25 200,000
Grand Central * 25
ICO,000
15.200 J. & J.
Grocers*
40
300,000
Hanover
100 1,000,000
156.400 J. & J.
100
1,68*,100
J. & J
Imp.& Traders’
1,500,000
50
500,000 U 6,900 J. & J.
Irving
5,800 J. & J.
Island City*... fO
100,000
Leather Manuf. 100
600,000 431.300 •J. & J.
Manhattan*..
50 2,050,000 1,017,500 F. & A
Manuf. &Mer.* 20
1,000 J.& J.
100,000
Marine
100
65.200 J.& J.
400,000
Market
100
500,000 218,800 7. & J.
8:7.300 J.& J.
Mechanics’
25 2,000,000
Mech. Assoc’n. 50
66,700 M.&N.
500,000
Mech’ics & Tr.
95,400 M.&N.
300,000
Mercantile
181,700 M.&N.
1,000,000
Merchants’.
623,50'J J. & J.
50 2,000,000
Merchants’ Ex. 50 1,000,000
212.400 J. & J.
33.100 J.& J.
100
Metropolis*.
300,000
Metropolitan.. 100 3,000,000 782,000 J. & J.
78.100
Murray Hill*.. 100 100,000
Nassau*
51.200 M.&N.
100 1,000,000
New York
666,000 J. & J.
100 2,000,000
N. Y. Couutv.. 100
71,800 T. & J.
200,000
N. Y. N. Exch. 100. 300,000
71,900 F. & A.
Ninth
31.100 J. & J.
100
750,000
No. America*.. 70
58.300 J.&J.
700,000
North River*.
78.200
50
J. & J.
240,000
Oriental*
160,800 J. & J.
25
300,000
Pac flc*
50
422,700 210,0j< Q-F.
Park
100 2,000,000
214,900 1.&J.
People’s*
251 412,500 131,000 I. & J.
Phenix..;
20 1,000,000
124,600 J. & J.
Produce*
1001 195,600
W'.
Republic
100 1,500,00
304.300 F.&A.
St. Nicholas
100; 500, <'00
38,000 F.&A.
Seventh Ward. 100' 300,000
50,100; J. & J.
Second
100
61,300'J & J.
300,000
Shoe & Leather 100; 500,000
221.300*1 J- & J.
Sixth
100
4o;ooo j.& j
200,000
State of N. Y.. 100
198,300 M.&.N
800,000
Third
100 1,000,000
20,800 J.& J.
Tradesmen’s... 40 1,000,000 281,30't J. & J.
Union
50 1,200,000
678,600 M.&N.
West Side*
100
93,400 J. & J.
200,000
America*
Dividends.
Surplus,
Jan. 1,
Ja iuar\ & l uly,
do
io
do
Jo
do
do
do
do
do
do
do
do
May & November.
«\o
do
January & July.
do
do
P»xh bonds
102
103
104
110
107
101
100
118
107
1894-18971 118
1889
105
1879-1890 102
111
1901
1888
102*
1879-1882 102
111
1896
108
1894
1890
1883-1890
1884-1911
1884-1900
1907-1911
1878-1898
1877-1895
1901
1898
102
102
103
106
108
119
109
103
107
119
109
119
106
114
112
105
105
H3|,
10711
Wall at.]
103
1819-1880 101
111
1881-1895 102
1915-1924 119% 121%
1903
1915
1902-1905
1881-1895
1880-18*3
1880-1885
1924
118% 121
118% 121
110
104
103
102
111
109
108
106
110% 112%
1907-1910 109% 111%
•Alt'Brooklyn bonds flat.
[Quotations by C. Zabriskib, 47 Montgomery
Jersey tMy—
Watei loan,
long
do
Sewerage bonds
1869-71
1866-69.
Assessment bonds... 1870-71.
Improvement bonds
Bergen bonds
1868-69.
-
St., jereey Clty.l
January * July.
January & Juiy.
do
do
1895
1899 1902
1878-18791
Jan., May, July St Not. 1878-1819
1891-94
J.A J.and J &D.
m»o
January and Julv.
85
97
92
90
90
9 I
92
100
96
95
95
95
376
THE CHRONICLE.
Juncstwcuts
Liabilities.
Colombian produce
Isthmus drafts
Drawbacks
AND
STATE, CITY AND CORPORATION FINANCES.
on
$1,506
3,063-
Surplus..
Tiie Investors’ Supplement is
published on the last Saturday
of each month, and furnished to all
regular subscribers of the
Chronicle.
|Vol. XXVIII.
No
$4,570
$1,190,775
Besides the above, this
company holds steamship property
transferred to it 1st February,
1S78, by the Pacific Mail
Steamship Company, for which this company issued
sterling
bonds amounting to £200,000,
say
single copies of the Supplement are sold at the
$1,000,000
sufficient number is printed to supply regular
Pittsburg Cincinnati & fct. Louis Railway.
subscribers. One number of the
Supplement, however, is bound
(For the year ending Dec. 31, 1878 )
up with The Financial Review (Annual), and can be
purchased
This
in that shape.
company is controlled by the Pennsylvania
Company,
and operates under lease a number of the
Western lines of the
Pennsylvania system. The annual report for 1878 shows the
ANNUAL REPORTS.
office,
as
only
a
following:
PITTSBURG CINCINNATI <fc ST. LOUIS.
Panama Railroad.
(For the year ending Dec. 31, 1878.)
Fortunately, the report of this company for 1878 has been
published. The General Superintendent remarks that the
results of operations for the
year 1878 are, on the whole, satis¬
factory.
The gross earnings for 1878 from all
sources, including light¬
erage, wharfage, rental of property, sales of water,
ballast, &c.,
amounted to $2,114,859, and the
gross expenses of every descrip¬
tion were $545,344, to which must be
added subsidy paid
Government, $250,000, and interest on bonds,
.$239,889, making a total of $1,035,233 ; leaving a net balance of
profit amounting to ,$1,079,626, against $1,071,683 net
profit in
Earnings.
1878.
Total
1877, being
increase of $7,942 in favor of the
past year. But
are better than
this, for included in gross
expenses there is charged out $58,886, cost of one hundred new
.box cars, and $20,395 additional cost of steel
rails (1,000 tons in
1878 against 500 tons
charged in 1877), which
an
be considered
extraordinary outlays not properly belonging to the annual
expense of operating the road.
Deducting these items from
gross expenses, leaves a real balance of
profit on the operations
for the year
amounting to $1,158,908, which represents 16/£
per cent on the capital stock.
may
as
The number of tons of
TRAFFIC.
freight transported in 1878
amounted
against 146,942 in 1877, and 113,781 in 1876.
carried in 1878 amounted to 24,921, against
22,110
to 152,477 tons,
Passengers
in 1877, and 22,940
1876, notwithstanding
travel between New in^
York and California has
$
2,191,781
704,602
63,044
126,779
3,266
3,951
4,535
3,176,370
1878.
Cond’g trails.
Motive power
Maint. of way
Maint. of cars
Gen. expenses
Total
1877.
$
802,401
526,935
398,225
200,884
427,420
180,644
86,998
85,511
1,989,607
2,022,913
„
3,097,962
The net earnings for 1878 were
Add received from hire of equipment
Received from interest on investments
earnings.
3,085—
24,854
$1,211,617
1,085,280
Increase
revenue
$1,186,763
$21,768
Total net revenue for 1878
Total net revenue for 1877
From the above net
$
834,375
469,122
The expenses were 62*64 per cent of the
gross
Colombian
the actual results
Expenses.
1877.
$
Freights .....2,270,835
Passengers... 701,607
Express
54,678
Mails
130,670
Rent of rail’y
11,424
Other rents..
3,749
Miscellaneous
3,404
$126,337
$1,211,617
for 1878
Deduct payments as follows
:
Interest on first mortgage consolidated bonds
Steubenville & Indiana Railroad
Company
$435,540
first
mortgage bonds
180,000
54,250
Columbus & Newark division bonds
Interest on securities received under Little Miami
lease, which has been credited to income account
of that road
Interest charged to car trust, series “ D ”
Rent of Monongahela extension
79,444
—
-
53,500
37,500
Total charges to net revenue
that the through
$840,234
Profit for 1878....
exceptionally
light. The movement of raw material to
$371,383
Europe and the Profit for 1877
United States during the
302,141
past year is worthy of special notice.
The shipments of coffee over the road
Increase
were 41,570
$69,241
bags less than
in 1877, and the
shipments of cocoa (owing to failure of the To the above profit for 1878, viz
$371,383
-crop) fell off 55,543 bags.
Add net revenue of the other lines
operated by the com¬
On the other hand, the
pany,
viz.:
quantity
of
bark
transported
over
the
road shows an
been
v.
increase of 20,331 bales
ivory nuts an increase
of 77,659 bags, and cotton an
increase of 8,801 bales, the increase
in the last-named three articles
;
compensating fully, both in
tonnage and earnings, for the loss
sustained—owing to poor
crops—of the first-mentioned staple articles.
The traffic from
Europe to San Francisco, Victoria,
showing a most satisfactory growth, stimulated by the &c., is
prompt
Chartiers
Railway
Pittsburg Wheeling A Kentucky Railroad
Cincinnati & Muskingum Valley
Railway
by piece.”
EARNINGS AND EXPENSES.
Freight Earnings.
From
Aspinwall to Panama
“
Panama
to
On treasure
For mails*
$889,722
Aspinwall
690,957
16,130
12,749
;
Gross
freight earnings
Passenger Earnings.
Aspinwall to
From
“
Panama to
$1,609,559
Panama....’
Columbus
Asppiwall
68,248—
Gross passenger and freight
earnings
Interest and
Lighterage
exchange
$1,759,702
Miscellaneous receipts.
$129,764
Water from Taboga and water from
Leases and rents, ballast,
Aspinwali
wharfage, light dues, tel¬
egraph, Ac., Ac
129,273
29,613
Total gross earnings
Interest
on
bonds
Total expenses
on
the Isthmus for
lighterage,
saleries, fuel, supplies, repairs, Ac., Ac
Charges account
Drawback on Colombian produce
Lost and damaged
freight
Freight on stores...
Office expenses in New York
Net
250,000
496,932
13,212
12,932
3,243
2,866
16,155—
etirnings
TREASURER’S STATEMENT, 31ST
DECEMBER, 1878.
‘
Due from connecting lines
Dills receivable.
rails.
47,118
!
Colombian Government for advance of
subsidy
sinking fund
Investment in Panama stock, 900 shares
Loans on call
.Petty cash
Interest due
road
Company.
Interest
bonds
Cincinnati
Street
Connection
Less profit in
operating Cincinnati Street
*
$712,543
23,625
11,905
$748,074
Connection Railway
Total
5,619
105,000
Proportion of loss in operating Newport
and Cincinnati bridge
'
201
payments, account Little Miami Railroad
Receivers of Columbus
/.
Chicago & Indiana Central
747,872
Railway Company (being net earnings of that
road)
Oue-lialf of loss in operating St. Louis Vandalia &
Terre Haute Railroad
on
on
411,514
65,200—1,372,341
all lines for 1878
all lines for 1877
$139,757
131,784
Increase in loss
$7,972
:
The above loss for 1878
was
met
by advances made by the
PITTSBURG CINCINNATI AND ST. LOUIS RAILWAY.
were
as
There
per cent.
carried during the year 747,455
passengers, as
against 680,082 in 1877, the increase being mainly
in the local
travel; but in consequence of a lower rate and decreased
mileage,
there was a slight reduction in
passenger earnings.
were
CINCINNATI & MUSKINGUM VALLEY
RAILWAY.
646*963
Earnings.
135449
47,*852
7,863
112*500
115*,000
no
28,403
•-
ley Railway Company
$37,136
carried over the road
during the year 2,142,155
against 1,722,386 tons in 1S77, there being a
largeincrease in both through aud local
freight; but in consequence
of lower rates and a
slightly-reduced average haul there was
$1,035,233 but a small increase in freight earnings. The revenue per ton
per mile was 7*9 mills, as against 9*3 mills in
1877, a reduction
$1,079,626 of over 15
$54,084
'
Due from
Muskingum Val¬
Interest and dividends Little Miami Rail¬
tons,
A OQfito
...
:
Rent of Chartiers Railway
Rent of Pittsburg Wheeling & Kentucky Railroad..
Interest on bonds of Cincinnati &
There
*Note.—The above item of “Total
Expenses on
5j>58,886 88 spent for new cars, and $43,905 75 forthe Isthmus” includes
1,000 tons steel
Cash in hank.
Funds in England
From which deduct payments as follows
861,200
$1,232,584
-
Pennsylvania Company.
$239,889
Subsidy to Colombian Government
*
355,156
$2,114,859
EXPENSES.
Total
Loss
Loss
66,505—
^
150,142
384,621
411,514—
Chicago & Indiana Central Railway
Company
$81,894
5,619
22,310
Little Miami Railroad
“
connections made here and the efforts of
our Atlantic connec¬
tions to bring it this
way; and I believe this business must still
develope largely, as goods can be delivered in less time
by way
of the Isthmus than via New
York, and shipments are delivered
intact instead of
arriving piece
$37,136
..
$1,195,34-»
Freights
Passengers
....
Express
Mails
Rents.’
Miscellaneous.
Total
.....
1878.
1877.
$228,706
$251,556
95,693
5,000
8,259
758
1,979
100,535
5,000
8,470
635
574
.$340,396 $366,773
Expenses.
1878.
Cond’g trails.. $71,704
Motive power.
Maint. of way.
Maint. of cars.
Geii. expenses.
Total
....
75,912
121,422
30,785
18,261
1877.
$76,451
97,475
121,635
26,860
18,464
:.$318,086 $340,887
377
iTHE CHRONICLE.
12, 1879.]
April
s
The expenses were 93*45 per
Net earnings for 1878 were
Net earnings for 1877 were
cent of the gross earnings.
$22,310
EARNINGS.
25,685
“
freight.
“
mail and express
other...
“
$3,575
Decrease
Interest on Cincinnati & Muskingum
Valley Railway Company’s
bonds, to meet which the Pittsburg Cincinnati & St. Louis
Railway Company advances any deficiency in net earnings.. .$105,000
22,310
Deducting the net earnings for 1878 therefrom
$32,689
Leaves as a loss to your company
The loss for 1877 was
79,114
:—
Increase
{For the
year
$84,487
$18,840
Maintenance of way
Maintenance of
10,133
11,422
1,503
rolling stock
Transportation
Taxes and miscellaneous
$41,899
$42,588-
Total expenses
earnings
PAYMENTS FROM NET EARNINGS.
ending December 31,1878.)
2,253,731
77,819,493
3,026,250
637,470,506
Freight tons carried one mile
EARNINGS.
Interest and sinking
Other payments
5,600,457
287,074
“
mail and express
other
161,735
$7,830,109
Total earnings
$35,770
fund
6,275
GENERAL BALANCE.
$648,303
Stock
Funded debt
Current accounts
$1,780,842
Earnings, passenger
freight
**
184
EXPENSES.
Net
Passengers carried
Passengers carried one mile
Freight tons carried
*'
33,189
4,752
,\
Total earnings
$3,575
Pittsburg Fort Wayne & Chicago.
$46,361
Earnings, passenger
500,000
70,000
$1,148,373
$37,442
Total
Real estate, &c
Bills receivable
Current accounts
Cash on hand
Profit and loss
2,500
2,853
.7
a
19,371
1,311
.>
EXPENSES.
Maintenance of way
Maintenance of rolling
Transportation
Erie &
321,335
Taxes and miscellaneous
Total expenses
- —
$4,140,912
-
$3,689,196
Net earnings
PAYMENTS PROM NET EARNINGS.
$1,059,800
sinking fund
Interest and
Dividends
$1,148,373
Total
$854,084
1,512,747
1,452,746
stock
1,773,963
Otherpayments
28,471
-
{For the
ending December 31, 1878.)
136,782
2,614,017
748,142
43,550,000
Passengers carried
Passengers carried one mile
Freight tons carried
Freight tons carried one mile
EARNINGS.
$79,755
Earnings, passenger
“
“
GENERAL BALANCE.
“
$25,383,585
Stock
Funded debt
Profit and loss
year
Pittsburg.
13,510,000
Total
75,125
441,747
18,879
’.
freight
mail and express
1,132
other
$541,515
earnings
EXPENSES.
$38,968,710
Total
Cost of road and equipment
Stocks and bonds owned
Materials and other property
$38,743,395
213,315
12,000
and assets
{For the
Indiana Central Railway*
ending Dec. 31,1879.)
year
....
$
$
.2,379,660
2,293,410
805,180
64,693
102,354
55,524
4,774
70,317
Passengers.
..
Express..
..
.
Malls.......
.
Rent of r’way
Other rents
Miscellaneous
^
799,645
62,446
106,672
69,102
5,526
10,611
1878.
1877.
1878.
$
Cond’g trans.
Motive power
Maint. of way
Maint. of cars
Gen. exp’nses
1877.
959,140
804,363
695,559
248,734
233,116
3,022,151
2,940,915
The business of this road was very considerably increased.
The tonnage carried was 1,791,981 tons, against 1,541,181 tons
in 1877, with a more than commensurate increase in the mile¬
thereof; but in consequence of the low rates that prevailed
during the year on east-bound through traffic, the earnings
were not
increased in like proportion.
The average rate
obtained in 1878 was but 7 8-10 mills, a reduction of
per
cent as compared with 1877.
There was a slight increase in the
number of passengers carried, but a reduction in the rate per
mile. The limited net earnings of this line are due to the
sparsely-settled character of the country through which the
greater part of it runs, and to the fact that its tonnage is mostly
east-bound and has to be handled at very low competitive rates.
The motive power is in good condition, and has been greatly
imp roved since the road was leased to the P.C. & St.L. RR., in 1869,
at which time many of the engines were not in condition for
service and others not worth repairing. A like improvement
has also been made in the car equipment, which, at the time of
the lease, had' greatly deteriorated; its serviceable value is
now fifty per cent greater than in 1869.
The road-bed, track
and bridges are in much better condition. During the year
there were placed in the track 4,091 tons of steel rails, 5,825 of
iron rails, and 337,967 cross-ties. Several of the wooden bridges
were rebuilt, and a double-track iron bridge constructed over
the Illinois and Michigan Canal, near Chicago. In August last
the arguments were heard at Newport, R. I., bv consent of all
parties, before Justice Harlan, of the United States Supreme
Court, in the several suits pending in the United States Circuit
Court for the District of Indiana, involving questions relating
to the lease of this road to the P. C. & St. L. company, but no
decision has yet been rendered.
age
Chartiers.
mile
sinking fund
.
$232,540
140,000
2,500
GENERAL BALANCE.
Stock
Funded debt
Bills payable
Current accounts
Other liabilities
.
.
$1,998,400
3,322,000
14,000
22,101
21,886
:
$5,378,387
$5,076,662
Total
Cost of road and equipment.
Real estate, &c...
Stocks and bonds owned
Materials and other property
Current accounts
Cash on hand
Profit and loss
8,675
27,649
215,000
10,754
7,683
31,961*
and assets
-
$5,378,387
Total
Indianapolis & St* Louis*
(For the year ending December 31, 1878.)
Passengers carried
Passengers carried one mile
Freight tons carried
Freight tons carried one mile
— •
243,093
10,865,239
538,619
85,300,579
EARNINGS.
$339,852
Earnings, passenger
“
freight
“
mail and express
“
other
Total
862,331
71,947
73,114
-
$1,347,246
earnings
EXPENSES.
Maintenance of way
Transportation and maintenance of rolling stock
_
Taxes and miscellaneous.
378,081
76,326
$1,033,342
Total expenses
Net
$284,934
$313,903
earnings.
PAYMENTS FROM NET
Rentals leased lines
Interest and sinking
Other payments
EARNINGS.
$450,000
247,095
1,595
fund
GENERAL BALANCE.
$600,000
Stock
Funded debt
Bills payable
— -
Other liabilities
- -
Total
Cost of road and equipment
Materials and other property
Cash on hand
and assets
i---
3;500,000
1,270,230
975,130
$6,345,360
$4,233,911
310,872
85,628
$6,345,360
Total
Indianapolis & Vincennes.
{For the year ending December 31, 1878.)
{For the year ending December 31, 1878.)
one
$383,912
$157,602
EARNINGS.
Dividends
Other payments
$43,826
Decrease
Freight tons carried
Freight tons carried
.
—
Total
.3,433,665 3,396,255
The expenses were 88*02 per cent of the gross earnings.
Not earnings for 1878 paid to the receivers of Columbus Chi¬
cago & Indiana Central Railway Company
$411,514
Net earnings for 1877 paid to the receivers of Columbus Chi¬
455,340
cago & Indiana Central Railway Company
Passengers carried
Passengers carried one mile
earnings
$
956,726
789,891
772,038
261,415
242,079
.
.
PAYMENTS FROM NET
Total.....
Total expenses
Interest and
EXPENSES.
EARNINGS.
Freight
Taxes and miscellaneous
Net
Columbus Chicago &
136,235
99,233
8,512
Transportation
$38,968,710
Total
$139,931
Maintenance of way
Maintenance of rolling stock
126,718
1,425,760
110,250
858,31
Passengers carried
Passengers carried one mile
Freight tons carried
Freight tons carried ono mile
-
101,892
2,190,825-*
126,628
9,674,974
378
THE
CHRONICLE
[Voii. XXVIII
EARNINGS.
Earnings, passenger
“
194,100
9,690
mail and express
“
GENERAL
$73,339
freight
“
other
Anthracite Coal Sale.—The auction
sale by the Delaware
& Hudson Canal
of 50,000 tons, on the 9th instant,,
Company
resulted in a decline from this
from 14 to 26/4 cents on differentcompany’s March sale, ranging
5,428
Total earnings
*.
$282,558
grades,
EXPENSES.
Maintenance of way
Maintenance of rolling stock
$138,261
earnings
Interest and
5,000 steamer
10,000 grate
$277,209
$5,348
10,000 egg
20,000 stove..
5,000 chestnut
PAYMENTS FROM NET EARNINGS.
sinking fund
Cost of* rail road and equipment
Materials and other property and assets
Current accounts
Cash on hand
5,713
30,815
24,623
Total
....$4,726,001
Jeffersonville Madison &
Indianapolis.
(For the year ending December 31,
1878.)
Passengers carried
Passengers carried one mile
Freight tons carried
mile
EARNINGS.
$329,615
“
Total
07*2®2 12*2
47*2®2 50
27*2®
.'.
$2 03*2
2
2
2
2
14
06*4
09%
48%
27*2
15%
16*o
•
26%
,
Company in exchange, share
740,907
46,085
33,405
mail and express
other
earnings
$1,150,014
EXPENSES.
Maintenance of way
Maintenance of rolling stock
Baltimore & Ohio Dividends.—At the
Directors of the Baltimore & Ohio
Railroad
a dividend of 4
per cent was declared on the
main road for the
half-year ending
stock of the
company ; and a
$168,919
meeting of
the
9.
Company, April
capital stock of the
March 31, payable in the
semi-annual dividend of 5 per
the stock of the
road, payable in cash on and after Washington Branch Rail¬
April 16. The financial
statements presented in connection with
these dividends show
that the net earnings
of the main road, for the six months
ended March 31, 1879, were
$2,064,019, being $499,319 more
than for the same period of the
preceding year. It was also
stated that after payment of interest
and
cent
667,981
11,829,591
1,535,380
46,502,460
Earnings, passenger
freight
“
©2 07 *a
for share, the proposal
until April 15, a consolidation of the two
com¬
3,150,000 panies to be thus effected.
26,327
The Kansas City Topeka &
Western, originally the Kansas
148,274
Midland, owns a line from Kansas City, Mo.,
to Topeka, Kan.,
$4,726,601 66 miles, which has been leased to the Atchison
Topeka &
$4,665,449 Santa Fe since Oct. 1, 1875.
Total
“
05
Decline from
March sale.
Cents.
to remain open
$1,402,000
one
2
2
2
2
amount
sold.
ern
Santa Fe
Stock
Funded del>t
Current accounts
Profit and loss
Freight tons carried
Prices received.
$2 05 ®2 02*2
:
Atch’son Topeka & Santa Fe.—Kansas
stockholders are offered stock of theCity Topeka & West¬
Atchison Topeka &
$206,000
GENERAL BALANCE.
on
Tons.
60,688
13,674
Taxes and miscellaneous
Total expenses
as follows
Average price
f
64,584
Transportation.
Net
INVESTMENT NEWS.
was
declared
on
taxes, and in addition
expenditures of $200,000 in cash for new locomotives
and
cars built at the
shops of the company, and investments for the
sinking funds in reduction of the mortgage debts,
amounting to
$329,743, the floating debt (incurred in
aiding the construction
of connecting roads) was further
reduced during the six months,
by the application of the net earnings to the extent of
$761,640.
to
266,131
Transportation
Central Railroad of Iowa.—The case of
Russell Sage and
others against this
company, on appeal from the Circuit Court
of the United States, was decided
by the Supreme Court of the
$727,026 United States, on the 7th
inst., against Mr.
Sage and his asso¬
$-122,988 ciates.
They are holders of about one-eightlieenth
part of
the first mortgage bonds, and were
endeavoring, in the language
of the opinion of Mr. Justice
$351,175
Strong, “ to overturn an arrange¬
140,000 ment
249,453
;
Taxes and miscellaneous
42,522
Total expenses
Net earnings
PAYMENTS FROM NET EARNINGS.
Interest and sinking fund
Dividends
Other payments
agreed to by a large majority of the bondholders
appointed
by themselves to make an arrangement for the
re-organization
of the debtor company; an
arrangement sanctioned by the
$2,000,000 court, and one which does not lessen their
security or postpone
5,000,000 them to any other
82,737 fullest extent all the bondholder, but which preserves to the
rights assured to them by the mortgage.”
$7,082,737 They ought not, in the opinion of this court, to succeed
1,650
GENERAL BALANCE.
Stock
Funded debt
Other liabilities
Total
Cost of road and equipment
Stocks and bonds owned
Materials and other property
and assets
Profit and loss
$6,508,712
*182,640
86,155
without the most substantial
reasons, and no such
appear in the record. The decree of the lower court
fore, affirmed.
305,229
Messrs. Justices
Total
*
$7,082,737
Sinking fund 1st mortgage bonds.
Little Miami and Columbus &
Xenia.
(For the
year
Tasseugers carried
Passengers cartied one
Freight tons carried
Freight tons carried
ending December 31, 1878.)
$850,950
mile
one
19,414,716
624,564
mile
50,770,373
reasons
is, there¬
Clifford, Hiller and Harlan dissented.
Charleston City Loan.—Messrs.
Baring Bros. & Co., of
London, have, through their
agents,
Messrs. Gibbs & Co., of
Charleston, consolidated their South Carolina
fire loan sterling
bonds, issued under act of 1838, amounting, with
to
nearly $400,000. They have also funded under the interest,
provisions
of the act of December
24, 1878, a large amount of past-due
interest on the consol, bonds and stocks of South
Carolina held
by them, being accrued interest from first
first
July, 1878.
January, 1874,
to
EARNINGS.
Earnings, passenger
“
“
“
$436,260
freight
639,599
94,925
52,904
mail and express
other
Total earnings
$1,223,691
Maintenance of way
Maintenance of rolling stock
EXPENSES.
$266,359
279,436
300,193
102,524
Transportation
Taxes and miscellaneous
Total expenses
Interest and
Dividends
PAYMENTS FROM NET EARNINGS.
sinking fund
Other payments
522,256
54,328
GENERAL BALANCE.
stock
$4,636,200
Funded debt
Other liabilities
Prolit and loss
2,104,000
27,419
311,809
Total
Cost of road and
equipment
$7,079,428
$5,046,240
Real estate, &e
Stocks and bonds owned
Materials and other
Current accounts
Cosh on hand
,
1,515,134
77,807
property and assets
412,825
-
Total
♦Add income from other
sources,
17,640
9,779
$7,079,428
$109,444;
total income,
St. Paul.—At Milwaukee,
Wis., April
made in the United States Circuit Court in the
old suit involving the
validity and ownership of the charter
and franchise of this
company.
The suit was brought* by
William Barnes, of Albany, X. Y., as trustee of
the third mort¬
gage in foreclosure.
Kansas
was
Central.—The
Kansas Central Railroad
(narrow
gauge), running west from Leavenworth 85 miles, will be sold on
the 14th of April under a
mortgage of foreclosure.
Pennsylvania State Loan.—The Sinking Fund Commission¬
of Pennsylvania have been authorized
by law to issue bonds
*$275,177 to the amount of
$2,000,000, the proceeds of which are to be
applied to the payment of part of the maturing debt of the
$171,287 State, which beare 6
$948,513
Net earnings
Chicago Milwaukee &
7, argument
$384,621,
ers
per cent interest. The new bonds are to
bear 5 per cent interest,
payable in Philadelphia on February 1
and August 1 in each
year, and are to run from fifteen to
twenty-five years. They are to be sold at not less than
par,
and are exempted from State and local
taxation.
—In the Lower House of the
Legislature the bill to make the
State liable for the riot damages
of 1877 was
poned.
indefinitely post¬
St. Louis & Southeastern.—The Tennessee
division of this
was purchased
April 9, in the interest of the Louisville and
Nashville Road, for $725,000.
road
Worcester & Nashua.—It is stated that the holders
of over
$800,000 of the $1,000,000 in bonds of the Worcester & Nashua
Railroad, and of between $400,000 and $500,000 of the Nashua
& Rochester bonds, have
already agreed to the reduction of
interest.
April
THE
12, 1379.]
O O T T O N
^iwes.
%\xz
11, 1879.
indicated by our telegrams
Friday, P. M., April
The Movement
COMMERCIAL EPITOME.
Friday Night, April 11,
379
CHRONICLE.
of the
Crop,
as
from the South
1879.
to-night, is given below. For the week ending
evening (Apr. 11), the total receipts have reached 44,851
bales, against 54,283 bales last week, 60,693 bales the previous
week, and 60,202 bales three weeks since; making the total
receipts since the 1st of September, 1878, 4,218,354bales, against
4,004,735 bales for the same period of 1877-8, showing an increase
since September 1, 1878, of 213,619 bales.
The details of the
receipts for this week (as per telegraph) and for the corresponding
weeks of four previous years are as follows:
this
spring-like, but the great lakes are still
by ice, and in other respects the lateness of spring oper¬
ates adversely to trade. Besides, it is a week of peculiar solemn¬
ity to a large number of people, and this has its effect, business
being almost wholly suspended to-day. The speculation and
advance in cotton promise a larger movement in dry goods next Receipts this w’k at
1876.
1875.
1877.
1878.
1879.
week, and it may be expected that trade in general will then be New Orleans
16,592
10,269
7,918
1*1,630
14,222
more active, and mercantile circles feel the impulse of a real
1.429
Mobile
2,461
1,372
3,670
3,484
Charleston
2,353
1,359
3,873
2,960
2,286
opening of the spring season.
291
109
863
The provision market made several rapid advances and Port Royal, &c
2,341
Savannah
4,448
3,573
3,420
4,468
showed generally much firmness during the week, until the
3,870
Galveston
1,706
4,015
5,143
4,487
closing, when there was a sharp reaction, and buyers had an iDdianola, &c
15
324
198
18
unmistakable advantage on receipt of unsatisfactory advices Tennessee, Ac
2,603
5,248
5,563
9,446
6,973
22
73
11
56
526
from the West. To-day, pork declined to $9 30(0) $9 40 for old Florida
390
North Carolina
957
1,104
1,955
1,304
mess, and $10 50 for new, on the spot; April options sold at
Norfolk
2,099
9,224
6,187
8,402
6,280
$10 45, and June at $10 50@$10 60. Lard was in full sym¬
126
231
430
1,265
1,182
City Point, &c
pathy ; prime city sold on the spot at 6‘45c., and do. Western
41,620
Total this week
21,183
51,391
37,769
44,851
at 6'60c. down to 6*50c., closing at 6*47^(0)3*50c.; April options
Total since Sept. 1. 4,218,354 4,004,735 3,778,419 3,855,106 3,274,656
were quoted at 6*45c.@5’47^c.; May
sold as low as 6*45c.,
June at 6*50c., and July at 6*60c.; refined for the Continent was
The exports for the week ending this evening reach a total of
obtainable at 6%c. Bacon also was lower, long and short clear 73,613 bales, of which 45,763 were to Great Britain, none to
being quoted 5%c. here and 5c. at the West. Beef has had a France, and 27,830 to rest of the Continent, while the stocks as
made up this evening are now 479,549 bales.
Below are the
better movement until to-day, when little or nothing was
stocks and exports for the week, and also for the corresponding
reported. Batter has perhaps been in better request, but not week of last season:
sufficiently so to give any relief or special steadiness to prices.
8TOCK.
EXPORTED TO—
Week
Total
Same
The business in naval stores has been but moderate; the rapid
Week
this
ending
Conti¬
Great
Week.
1878.
1379.
1878.
and well maintained advances on spirits of turpentine, caused Apr. 11. Britain. France. nent.
by the exceedingly small stocks, has done much toward checking N. Orl'ns 19,045
31,855 172,101 221,533
38,986
19,941
4,892 20,900 23,070
4,850
trade.. At the close, 35@36c. was asked. Common to good Mobile..
4,850
800
3,751 12,924 16,313
4,141
.strained rosins were quoted at $1 35@1 40. Petroleum has Oharl't’n
3,341
7,871 19,765 23,838
3a van’ll.
5,920
5,920
been more active at full firm figures.
Refined in barrels
22,375 32,044
3,886
Gnlv’t’n1,039
2,847
closed at 9/£c. for April deliveries. American pig iron and rails
150
192,574
157,109
8,780
N. York.
5,362
5,212
have latterly been less active, but all figures are sustained with Norfolk7,047 10,910 19,327
7,560
7,560
3,468 28,000 40,000
2,908
a
2,908
good degree of firmness. Ingot copper sells in a moderate Other*..
way at 15%@1Gc. for Lake.
Whiskey more active, at $1 05]4@ Tot. this
The weather is more
-closed
.
....
....
m
m
m
m
...
'
....
....
....
•
....
•
•
•
....
....
....
....
....
—
$1 05/2.
P Rio coffee has been in fair demand at firm prices, fair cargoes
ruling at 13%@14c. Mild grades have sold well at generally
steady prices. Late sales include 4,365 bags Maracaibo, 1,596
bags Costa Rica, and 1,039 bags Savanilla, within the range of
12@16/2C. for Maracaibo, 14@17c. for Costa Rica, and ll^@17c.
for Savanilla. The stock of Rio at the close is 44,023 bags, and
of mild grades 26,657 bags and 69,565 mats.
Rice has been in
better demand and firm. Refining grades of foreign molasses
have been in good demand, and 50-test Cuba has advanced to
27c. Grocery grades have met with a fair demand for both
foreign and New Orleans at steady prices. Raw sugar has been
fairly active at a shade, easier prices for Muscovado, though
centrifugal has remained steady. The quotations for fair to
good refining are now 6%@6%c., with centrifugal 6%@7%c*
Statement of April 9th :
Hilda.
28,178
21,160
.-Sales since
16,354
Stock April 9, 1879
32,984
Stock April 10,1878
16,035
There has been a fair movement in
1,1879
Receipts sinoe..
8tock April
Boxes.
Bags.
12,837
10,142
580,494
6,507
3,292
19,687
9,979
3,235
583,766
25,488
Melado.
2,299
500
554
2,245
178
freights, though at
low and undesirable rates, occasioned by the excessive supplies
of tonnage. Late engagements and charters include : Grain
to Liverpool, by steam, 6d. per 60 lbs.; bacon. 20s.; butter and
cheese, 25s.@27s. 6d.; cotton, 3-16d.; do., by sail, 3-16d.@7-32d.;
Hour, Is. 9d.; grain to London, by steam, 6@6Md.; provisions,
25@30s.; flour, by sail, Is. 9d.; grain to Bristol, by steam, 5%d.,
60 lbs.; do. to Havre, by steam, 6d., 60_ lbs.; do. to Cork “for
orders, 4s. 10/£d. per qr.; do. to Havre or Antwerp, 4s. 3d.; do.
to Marseilles, 4s. 9d.; do. to Bordeaux, 4s. 7d.; do. to Lisbon,
13Me. per bush.; refined petroleum to Rotterdam, 3s. 3d.; do.
to London, 2s. 9d.@3s.; do. to Bremen and Antwerp, 2s. 9d.@
2s. 10/£d.@3s.; do. to the Baltic, 3s. 9d.@3s. 10^d.; crude dq.
to Bordeaux, 3s. 3d.; do. to Havre, 3s.; refined do. to Bremen
or Hamburg, 3s.
Kentucky tobacco has been rather more active, though busi¬
ness is still checked by limited offerings and a disposition to push
up prices.
Sales for the week are 750 hkds., of which 500 were
for export and 250 for home consumption. Prices are very firm:
lugs 3@4^c., and leaf 5@12c. Seed leaf remains dull. The
only sales are : 300 cases 1877 crop, New' England, 12@21c.; 25
do. 1875-6 crops, New England, private terms, and 300 do. 1877
•scop, Pennsylvania, 9@10c.; also 450 bales Havana, 85c.@$l 10.
week..
45,763
27,850
....
67,664 479,549 533,234
73,613
Tot.since
Sept. 1. 1742,811 382,235 877,666 3002,712 2825,290
The exports this week under the head of “ other
ton, 1,529 bales to Liverpool; from Philadelphia,
from San Francisco, 36 bales to Liverpool.
*
ports” include, from Bos¬
1,343 bales to Liverpool;
it will be seen that, comnare4
last season, there is an increase
bales, while the stocks to-night
are 53,635 bales less than they were at this time a year ago.
In addition to above exports, our telegrams to-night also give
us the following amounts of cotton on shipboard, not cleared, at
the ports named.
We add also similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale &
From the foregoing statement
with the corresponding week of
in the exports this week of 5,949
Lambert, 60 Beaver street:
Shipboard, not cleared—for
Coast¬
1Other
On
11, at—
April
Liver¬
pool.
New Orleans
Mobile
Charleston
Savannah
8,900
700
5,600
7,132
Galveston
New York
France.
not
re- ceived.
Tele- gram
None.
None.
12,136
175
4,525
None.
3,650
None.
7,100
None.
1,500
365
None.
7,497
None.
3,236
Not
7,000
Other ports
re-
J
29,332
The
following is
our
1878.
1877.
N.Orlns 1115,758 1292,656
Mobile.
346,372
503,654
675,119
533,825
134,914
51,511
130,122
511,814
167,414
Cliar’n*
Sav’h.,
Galv.*.
N. York
Florida
N. Car.
Norf’k*
Other..
This yr. 4173,503
1
Lastyr..
.....
....
390,160
440,699
558,803
418,777
112,722
13,803
134,125
459,417
1-32,182
8,764
8,399
12,665
14,878
ceived.
2,000
10,000
28,910
3,236
4,650
4,040
41,258
73,616
bales at presses
for foreign porta, the
usual table showing the movement
ports from Sept. 1 to April 4, the
RECEIPTS SINCE
8EPT. 1.
Ports.
Stock.
1,000
*
Included in this amount there are
destination of which we cannot learn.
cotton at all the
Leaving
None
ocean
Total
Total.
wise.
Foreign
EXPORTED SINCE SEPT,
Great
Britain.
France.
|
of
latest mail dates:
Other
Foreign
1 TO—
Stock.
TotaL
524,743 194,042 305,038 1023,823 209,546
42,035 32,347 29,677 104,059 25,659
141,638 57,140 164,810 363,638 16,139
184,730 23,646 225,603 433,979 23,727
203,253
193,524
13,756
59.478
62,971
10,352
1,967
2,050
21,826
135
325,707 24,344
226,202 192,514
15,858
186.453
2,663
10,916
25,500
1697,018 382,235 819,816 2929,099
531,013
44,472
178,45S
170,384
713
18,539
5,098
16,069
65,111
184,269
3953,344 1720,301 443.058 594.267 2757,626 564,759
Under the head of Charleston, is included Port Royal, &c.; under the head of
Galveston is included Indianola, <kc.; under the head of ITorjolk is Included City
*
Point, &c.
003
7.3
1
0
7
.
3
0035.23
380
The chronicle.
0053.1
the spot was very dull on
on
Bales.
Saturday,
Wednesday
there was an advance
of -Jc., with a fair business for
export.
Yesterday there was an¬
other advance of lc., to life, for
middling uplands. The specu¬
lation in futures has been active, but at
irregular and variable
prices. On Saturday the fluctuations for the active months were
18 to 25 hundredths, and on the three
following days 7 to 11
hundredths. On Wednesday there was a firmer and more
uniform market, Liverpool
being reported higher in the face of
the depressed report which we sent that market
on
Tuesday
evening, not only checking the disposition with us to sell for a
Monday and Tuesday, hut
on
10 164.5718.30;
delivery for the week
April 5 to
April 11.
Sat.
Ordin’y.$tt>
97ig
NEW ORLEANS.
Mon Tuei
9t16
Sat.
9V,
11
1110
11%
Good Mid
1112
Str. G’d Mid 11%
Midd’g Fail- 123s
Fair
1338
..
Wed
Ordin’y.^lb
Th.
9Ui6
Strict Ord.
9^16
10116
Good Ord.. 10716 10916
Str. G’d Ord lOiiie 101316
Low Midd’g 101&16 H%6
Btr.L’wMid 11 %
Middling... 11%
Good Mid.. 11 %
Str. G’d Mid 1178
Midd’g Fair 1212
Fair
12%
1312
;
c?
T3
£
11%
113b
11%
O
1258
1358
13%
STAINED.
Good Ordinary
Strict Good Ordinary
Low Middling
Th.
9Hi6
10%6
109ie
101316
lUie
91316
10316
lOHie
101516
H%G
1,000
$ tt>.
Middling
11%
11%
11%
11%
12%
13%
11%
78
12%
11
13%
Frt.
et
Ti
u
Tit.
91%6
10%6
109ie
101316
H%6
913,6
103.6
10n,6
1010.6
113,6
12
U78
12%
0
0
12%
1 234
135s
13%
Sat.
Mon Tues Wed
11%
1138
1134
12
0
12%
13%
9%
9%
9%
200
10%
10%
10%
10%
1015,r 11%g
101316 1013,6 1013, R
1
..
.
..
.
...10-92
..10-93
1,000
..
...1163
..11*64
.
700.
100
609.
800
.
...1100
...11-07
11-08
...11-69
1170
...11*71
.11*12
4,400
1,400.
1,700
2,000
.,
.
....
11*23
..
.
..
..
1,000
..
22,300
H 25
For Deee
7"0
200
400
400
500
400
11*27
900
..
1,500
..
11*29 !
—
..
300
35.600
Fo»* November.
'.
600
10 62
100
....10*68 1
200
10-04 I
400
...10-07
700
10-73 1
100
...10-74 1
...10-75 *
3,0<>»v
400
1 200
100
10-78 |
100
10-79 1
1.500
...10-80 !
300
10-81
72,400
1,500
600
200
300
100
000
800
100
600
..
2,200
...10-.-2
10-83
600
..
1,400
1,409
.11-12
11 lJ
...1114
..11*15
10-84
10-85
10-80
<7
...10-87
..
..
700..
900
..
10*88
10 90
10 94
10*95
;
..
1,300
10 81
10 S3
10*84
10-85
10*86
400....
..
..
.
700
200
...
..
1,200
1,000
1,700.
2,200
700
100
100
..
..
10-01
10-62
10-03
10-04
10-60
50*08
10-09
10*70
1071
10*72
10*74
1075
10*76
10*78
10 79
10/0
1,54)0
..
..
b**r,
100
100
..
For October.
200
10 90
500
...10*97
200
...10*99
...11-00
1,800.
200
11-02
800
..11-03
700
11*04
500
11-06
100
...1107
200
ll'f 8
...1109
1,800
...11 10
3,800
4,*.-00
...11 11
i
1,100
..
1
|
...11 20
11 21
,..,10-89
300
100.
1 700
100
700
|
1
...10-88
12 300
following exchanges have been made during the week:
•17 pd. to exch. 500 Vfay for Ju_e.
*43 pd. to exch. ?/'00 Oct. for
Sept,
*13 pd. to exch. 200 April for May.
,
following will show the range of prices paid for futures,
closing bid and asked, at 3 o’clock P. M., on each day in
Futures
Saturday.
Monday.
Tuesday.
Market.
Variable.
Feverish.
Variable.
For
April
“
r-a
<Z
..
s.n.
May.
'S
Day.
Closing.
..
’C
June
Pm
July.. August.
Sept’b’r
.
.
October
Nov’ber
Dec’ber
Day.
Closing.
For
Day.
Closing.
Low. Bid. Ask High. Low.
Bid. Ask
11*21-11*09 11*20 21 11*31-11*23 11*22 24 High. Low. Bid. Ask
11*21-11*16 11*16 —
11*07-11*07
11*16-11*11
11*38-11*19 11*37 38 11*45-11*35 11*38 39
11*39-11*30 11*29 30
11*53-11*34 11*51 52 11*60-11*49 11*54 55
11*56-11*46 11*46 47
11*69-11*48 11*67 68 11*76-11*66 11*69 70
11*71-11*60 11*61 62
11*84-11*60 11*77 78 11*88-11*79 11*81 82
11*81-11*70 11*72 73
11*62-11*42 11*59 60 11*68-11*60 11*61 62
11*57-11*50 11*51 —
11*15-10*97 11*14 15 11*20-11*13 11*17 —
11*12-11*06 11*08 09
10*83-10*63 10*84 85 11*89-11*81 10*86 88
10*80-10*73 10*73 74
LU-80-10'62 10 82 84 11*84-11*80 10*81 83
10*74-10*66 10*69 70
11*25
11*25
11*20
Firm.
Barely
—
—
Fri.
Closed.
©*
Futures
Wednesday.
Market.
Higher.
-
—
—
steady.
C'w
og
For
High.
Tr. ord.
10i2
..
Cts.
1,700
..
the past week.
0
10
.
Cts. I Bales.
...11*10
11*17
...11*18
and the
0
10
I
....
700
600
Fri.
934
10%
10 34
.
3,100
11-41
11-42 1
11*43 I
11-45
11-47
11-48
-..11*49
11-50
11-51 1
11-52
11-53
...11*54
11*55
500
The
O
10
..
5,500
5,400
4,000
4,700
2.100
800
1/00.
2.000
900
100
*75 do. to exch. 600
Sept for N ov.
*14 pi. to exen. 200 Apiil for
May.
*82 pd. to exch. 100 Dec. for
fcept.
*C3
Til.
3.700
September.
The
11%
11%
11%
12%
12 34
133,
3,100
I
Bales.
.
1 800
1
Cts.
...11-50
.11-57
...11*58
...11*59
11 CO
...11*01
..
1,000
3/00
1,800
3/00
5,’*00
11%
11%
11%
11%
12%
13%
Wed
%
9%
200
For
Mon. Toes
11%
11%
113s
1112
113s
11 34
O
O
12
Wed
11%
*C!
11%
11%
11%
1178
12%
13%
1114
ll^S
1178
1212
1312
11 58
11 '8
Fri.
"i6
1 lie
800
1,100....
101%6 101&i6 101516 101&16 1010.6 101516
ills
1114
1118
111-2
11%
1238
133s
11%
123s
133e
2,800
2.000
4/00
500
500
500
99ig
jg
Str.L’wMid
2 300
TEXAS.
Mon Tues Sat.
11*82
11*83
11*84
11 85
11*86
11*87
11*88
11*89
11*9!)
11 91
11*92
11*93
11*94
l!-95
11*96
11*£7
11*18
2,400
are
9916
9916
9916
9916
9916
Strict Ord.. 91316 91316
913j0 91516 91%6 91%6 9«16 915,6 915,6
Good Ord.. 10al6 10°iG
105ig 1071g 107i6 107ie 10716 107.6 107,6
Str. G’d Ord 10016 109m
10%6 ion16 lOHis 101116 101%6 101_%6 1011,6
Low Midd’g 10131g 101316 1013
Middling... 1118
3 000
2,400
5.700
3,500
127,400
G12,200
bales, including — free on board. For immediate delivery the
total sales foot up this week 2,363
bales, including 510 for export,
1,396 for consumption, 456 for speculation, and—in transit. Of
the above,
bales were to arrive. The following tables show
the official quotations and sales for each
day of the past week:
UPLANDS.
11-78
18.000
decline, but causing some demand to cover contracts. Yester¬
day, with a further improvement at Liverpool, and the move¬
ment of the
crop quite small, there was an advance to prices
exceeding the highest figures of last Friday, with a renewal of
excitement in the later
dealings. T he emigration of the freedmen.from the cotton States to Kansas
continues, but not on a
scale sufficient to excite alarm
regarding
supplies of labor at
the
South.
The total sales for forward
Cts. 1 Bales.
2,800
.11*79
1 60.)
11*80
200
.11*81
3,000
4 800
1
The market for cotton
[Vol. XXVIll
A
•
Barely steady.
Thursday.
Friday.
Higher.
Holiday.
MARKET AND SALES.
SALES OF SPOT AND TRANSIT.
SPOT MARKET
CLOSED.
Ex¬
Con-
Spec- Tran¬
port. sump. ul’t’n
8at. Quiet
Mon I Inactive
Tues .'Dull and easy
Wed
Inactive, higher
Tliurs Nominal, higher
Fri
Good Friday
176
303
350
*263
299
Holi
.
_
..
510
.
Total
510
1,396
sit.
10
74
....
48
258
66
day..
456
....
For
FUTURE8.
Total.
April.
“
Deliv¬
eries.
Sales.
186 135.900
382 131.900
398 129,800
1,031 I Os. 100
365 106,500
2,362 612,200
July
August.
Sept’b’r
...
700
500
October
Nov’ber
Dec’ber
Tr. ord.
Closed.
1,000
1,000
4,300
Low.. Bid. Ask
11*30-11*20 11*29 30
11*27-11*27
11*43-11*35 11*41 42
11*59-11*51 11*58 59
11*74-11*65 11*73 74
11*86-11*75 11*84 85
11*64-11*56 11*62 63
11*20-11*10 11*18 19
10*85-10*75 10*82 83
10-80-10*72 10*78 80
11*30
Firm.
—
..
June...
1,100
Closing.
High.
.
s.n.
May.
Day.
For
For
Bales.
April.
Bales.
Cts.
800.
100 s.n. 9 th. 11 07
200
1109
200.
1110
100 s.n.1 ihllll
500
11 11
700
11 12
<300
11*13
1,700
1114
300
11*15
100 E.H.lCtbll lS
1,800
11 16
300
11 17
800
.11*18
*
100
1119
t 300
11 19
£00
1119
200
11 20
<K»0
11*21 !
100
11-22
300
11-23
fOO
1124 j
40!»
11-25
100
11-20
100 e.n. lCtbll-27
200
11-27
£00
11-28
200
11-30
100
11-31 1
100
11*34.
100
11*3 3
100
11*40
COO
11-42
Cts.
....
..11-28
11*29
.
2,‘J00
3,300
3,300
5,000
..11-30
11*37
..11*38
.11*39
..11*10
.11*41
3,400
4,400
4,000..
5,300
V,7e0
..11*44
..11*45
..11*46
11*47
600
4/00
..11*50
..11*51
3,100
ForJun o0
3 400
2,7'0
For Mav.
100
...1119
*
11-25
11-20
11*27
.11*41
1,500
11*43
11*44
..11 45
..11*40
10 000
7 000
1,100.
11-58
..
200....
300....
4,OCK)....
3,200....
.
..
1,400...
11*60
11*61
11*02
11*03
11-04
11-60
11-67
11-68
11-69
S,300....
3,000....
900....
000....
11-49
t No notice
*
5,70 *
5 100..
11-00
11*07
11 -0S
11-09
3.100
1,000
1,500
4/00
2,000
5,2< 0
4,800
....11*70
.11*71
11*72
11* #3
.11*74
11*75
11-70
11*77
.11*78
11*79
11*80
11*81
11*82
11*83
11*84
11*8 j
1.000
1,000
1,700
2,600
400..
1, 00
1,200
700
95,000
..
....
1,50"....
2,100.
3, 00.
2 500....
900....
.
..
..
1,000....
3,700.
2,- 00....
1,9:0....
1.400....
4400
5,40 »
700
11-49
11 50
2,800
11-54
..
2,800....
3,9 0....
600
400..
2,000
4,700
2,500
...
300....
3.900....
8.700....
1/00
.
.11*57
11*59
...11-00
.11*01
...
11*03
2,200.
1.800
900
2.700..
5/00
11*57
11*58
...11*59
11*60
11-01
11-62
.11-63
.11-64
11-05
11*00
11-07
11-68
11*09
11-70
11-71
11*73
11-73
11-74
11-75
11*70
.11*77
..
F*r Day.
Loio.
—
—
-
Closing.
-
Bid. Ask
—
—
—
—
_
11*52-11*45 11*49
11*71-11*58 11*64
11*85-11*76 11*78
11*98-11*88 11*90
11*72-11*66 11*66
11*29-11*22 11*27
10-95-10*86 10 93
10*95-10*84 10*90
11*40
50
65
79
91
67
28
94
91
—
_
—
_
—
.
—
—
_
_
—
—
—
—
—
—
-
—
—
—
—
—
—
—
—
—
■
-
—
—
■
-
—
Barely steady.
To 2 P. M.
Tns Visiele Supply of
Cotton,
as
made up by cable and
telegraph, is as follows. The Continental
of last Saturday, but the totals for
Great
for the
Continent
this
stocks
are
the
figures
Britain and the afloat
week’s returns, and
consequently
brought down to Thursday evening; hence, to make the totals
the complete figures for
to-night (April 11), we add the item of
exports from the United States,
including in it the exports of
Friday only:
are
1879.
587.000
57,250
Total Great Britain stock
Stock at Havre
St ock a t Marseilles
644,250
183,000
2,000
23,500
3,500
22,250
43,500
7,250
Stock at Barcelona
Stock at Hamburg
Stock at Bremen
For A ugusf.
11-47
2 400....
pril 7.
Cts.
11-05
11-71
.
137,700
1.000.
Bales.
5 100
..
1,90"
1,400
1,800
2,500
4,100..
No notice / prll 5.
..11*39
100
..
000
800
2 000
11*37
2,000
..
11-55
.11*50
..
.
1,400
2.400....T.
11-20
5,500
11-21
3,000
11*22
1,400
11-23
:,300.
.....11-24
0.400.
7 300....
4.400....
70 *.
11*33
11-34
11*35
.
3,000
8 JO
...
For July,
100....
11*45
UK)....
j 97,000
11;900
..
0,200....
100.
700
2 900
2,000...
2,200....
1.000
2,800
1,000
1,700
1,000
-
.
..
8.100
100
11-51
11-52
..
8.700.
..11*34
5,300
4,700
4,000
•
Cts.
5,800....
900
j
9.800,
0.300..
..11*32
4,900.
|
Bales.
11,700...,
*
Closing.
High. Low. Bid. Ask High.
11*42-11*34 11*39 40
—
For forward
delivery the sales have reached during the week
612,20) bales (all middling or on the basis of middling), and the
following is a statement of the sa’es and prices :
Day.*
Stock at Amsterdam
Stock at Rotterdam
Stock at
Antwerp
*
Total continental ports
Total European stocks..
India cotton afloat for Europe.
..
Amer’n cotton afloat for Eur’pe>
Egypt, Brazil,&c.,aflt for E’r’pe>
8tock in United States ports
Stock in U. S. interior ports..
United States exports to-day..
..
.
1877.
1876.
926.000
754,000 1,160,750
981,750
177,000
227,250
6,250
34,030
7,000
7,000
39,500
43,500
12,000
7,250
9,000
295,750
385,750
3.750
Stock at other conti’ntal ports.
1878.
744,000 1,124,000
10,000
36,750
197,500
3,500
68,000
14,500
55,750
5,250
15,250
86,000
18,750
46,250
47,000
16,500
13,000
17,750
455,250
427,500
66.250
70,750
11,000
8,500
910.000 1,139,750 1,616.000- 1,409,250
143,000
192,000
249,000
183,000
515,000
628,000
345,000
630,000
25.000
43,000
45,000
43,000
479,4>49
533.234
633.892
580,459*
63.294
63,558
80,966
77,750
9,000
6,000
10,000
4,000
Total visible supply.bales.2,174,813 2,605,542 2,973,85S 2,933,459
THE CHRONICLE.
12,1879.]
April
Of tlie above, the totals of American and other descriptions are as
the week.
Average thermometer, 70 ; highest, 79 ; lowest, 59.
brig Hera, which cleared for Bremen on Monday last with
1,039 bales of cotton, was on Wednesday wrecked on the main¬
land ten miles east of Galveston, and has been dismantled
Cargo now in process of salvage.
Indianola, Texas.—There has been no rain during the week,
and we are needing it badly.
Both growth and work are nearly
suspended. The thermometer has ranged from 61 to 87, aver¬
aging 74.
Corsicana, Texas.—It has rained on one day this week, a wel¬
come shower, but hardly enough,
the rainfall having been fortyeight hundredths of an inch. The thermometer has averaged
67, the highest being 87 and the lowest 41.
Balias, Texas.—We have had a shower on one day, but need
more.
The ground is very dry, and wheat is
heading pre¬
maturely. Cotton planting active. Estimate for North Texas :—
Cotton acreage, thirty per cent more, and wheat
acreage twentyfive per cent less than last year.
Average thermometer during
the wee"k, 67 ; highest, 87; and lowest 41.
The rainfall has
been fifty hundredths of an inch.
Brenham, Texas.—There has been no rainfall during the
week, but crops are prosperous. Cotton planting is finished,
and a good deal of early planting has been already
brought to a
stand.
Corn fine.
Average thermometer, 72 ; highest, 86; and
follows:
The
American—
Liverpool stock
475,000
Continental stocks
American afloat to Europe....
United States stock
United States interior stocks..
United States exports to-day.
269,000
534,000
333,000
515,000
479,549
628,000
63,294
9,000
63,558
6,000
757,000
388,000
345,000
633,892
533,234
536,000
270,000
630,000
80.966
580,459
77,730
4,000
10,000
1,810,843 2,117,792 2,208,858 2,104,209
East Indian, Brazil, die.—
112,000
57,250
190,000
26,750
143,000
25,000
52,750
367,000
36,750
67,250
192,000
43,000
249,000
45,000
364,000
487,750
765,000
10,000
390,000
55,750
157,500
183,000
43,000
829.250
1,810,843 2,117,792 2,205,858 2,104,209
Total visible supply
2,174,843 2,605,542 2,973,858 2,933,459
Price Mid. Upl., Liverpool....
G^d.
6d.
G^d.
6i10d.
These
figures indicate a decrease in the cotton in sight to-night
430,699 bales as compared with the same date of 1878, a
decrease of 799,015 bales as compared with the corresponding date
of 1877, and a decrease of 758,616 bales as compared with 1876.
At the Interior Ports the movement—that is the receipts
and shipments for the week, and stocks to-night, and for the
corresponding week of 1878—is set out in detail in the following
of
statement:
Week ending Apr. 11, ’79.
Week ending Apr. 12, ’78.
Stock.
Receipts Shipm'ts
Receipts Shipm’ts Stock.
237
1,407
2,933
688
2,704
2,176
650
400
126
629
536
11,547
38,411
5,010
7,946
479
797
3,167
582
958
6,991
2,802
33,133
2,810
Total, old ports.
10,549
18,742
63,294
7,933
13,764
63,558
Dallas, Texas....
Jefferson, Tex....
Shreveport, La
Vicksburg, Miss
Columbus, Miss..
Eufaula, Ala
Griffin, Ga
Atlanta, Ga
Rome, Ga
Charlotte, N. C...
8t. Louis, Mo
175
300
257
391
800
109
237
784
1,054
2,049
1,057
3,160
1,950
1,040
1,585
1,738
1,735
917
3,296
146
356
137
245
1,450
181
160
11
109
1,311
Augusta, Ga
Columbus, Ga—
-
Macon, Ga
535
69
Montgomery, Ala
1,643
Bolma, Ala
Memphis, Tenn..
750
5,762
Nashville, Tenn..
..
.
1,535
1,005
201
1,600
940
125
230
100
1,050
1,274
420
290
463
331
5,986
9,672
7,962
Total, new p’rts
Total, all
Cincinnati, 0
9,976
5,453
430
4,563
1,295
2,026
1,159
187
922
566
201
545
29
478
563
293
516
264
8,138
5,273
3,285
13,837
7,597
20,789
22,470
43,711
9,637
16,390
45,075
31,338
41,212
107,005
17,570
Receipts from: the Plantations.—The following table is
prepared for tlie purpose of indicating tlie actual movement each
week from the plantations.
Receipts at the out ports are some¬
times misleading, as they are made up more largely one year
than another, at the expense of the interior stocks.
We reach,
therefore, a safer conclusion through a comparative statement
like the following:
RECEIPTS FROM PLANTATIONS.
Jan.
1877.
1878.
1879.
1877.
3
1878.
115,268 165,755 143,155 249,905 253,239
101,132 142,099 121,091 223,007 236,293
At
17
115.015 153,727 113,613 214,057 237,380
44.
24
109,447 164,059 14S,640 195,082 242,013
31
138,374 159,186 167,097 182,240 244,494
Feb. 7
140,006 137,138 171,608 179,266 240,708
44
14...... 120,720 120,090 150,841 174,977 233,103
21
88,068 109,736 134,328 173,478 226,685
44
28
68,615 94,349 110,047 173,178 210,935
Mar. 7
50,742 90,947 83,266 169,291 192,465
44
14
44,537 82,264 78,490 165,747 169,636
41
21
32,366 75,723 60,202 158,041 146,653
44
28
30,397 65,470 60,698 151,199 131,795
26,287 59,886 54,283 140,649 119,991
Apr. 4
11
21,183 51,391 44,851 133,363 108,633
“
10
44
44
.
The above statement shows—
1. That the total receipts from
1878-9
1S76-7
1879.
Rec’ptsfrom Plant’ns
1877.
281,634
253,647
233,236
218,585
220,935
214,117
108,776
74,234
106,065
90,472
125,532
137,032
190,765 116,431
182,246 86,569
170,438 68,315
165,619 46,855
159,418 40,993
141,612 24,660
131,463 23,555
116,879 15,737
107,005f 13,897
1878.
1879.
157,118 130,508
125,153 93,104
154,814 93,202
168.692 133,997
161,667 169,447
133,352 164,790
112,48. 127,489
103,31f 125,809
78,59$
98,239
72,47; 78,447
59,43^ 72,289
52,740 42,396
50,612 50,549
43,082 39,699
40,033 34,977
the plantations since Sept 1 in
4,319,707 bales; in 1877-8 were 4,038,836 bales; in
were 3,874,056 bales.
2. That although the receipts at the out ports the past week
were 41,851 bales, tlie actual movement from plantations was
only 34,977 bales, the balance being drawn from stocks at the
interior porls. Last year the receipts from the plantations for the
same week were 40.033 bales, and for 1877 they were 13,897 bales.
were
Weather Reports
by
Telegraph.—The wreather the past
■week has been cold, with severe frosts in many
portions of the
South, but has done no harm, as the crop was not sufficiently
advanced. In parts of Texas rain is still needed ; Northern
Texas esti nates an increase of 30 per cent in the cotton acreage
for. this year.
Galveston, Texas.—The,weather has been
warm
and dry
all'
range
The thermometer has averaged 68,
having been 52 and 85.
River three feet
the
seven
inches.
Columbus, Mississippi.—We have had rain
frosts
on
three
nights during the week.
two days and
Corn nipped, but not
on
killed.
Little Rock, Arkansas.—Telegram not received.
Nashville, Tennessee.—It has rained on four days the past
week, the rainfall reaching one inch and eighty-two hundredths.
Average thermometer 52, highest 70, and lowest 28.
Memphis, Tennessee.—Rain has fallen during the week on
three days, to a depth of one inch and nineteen hundredths. The
thermometer has averaged 58, the highest point touched having
30,154 108,633
year.
ending—
extreme
4,192
1,333
3,216
2,387
Ports
excellent condition.
553
680
r
Louisiana.—Telegram not received.
Shreveport, Louisiana.—The weather during the week has
been dry and pleasant, no rain having fallen, and roads are in
2,873
1,142
1,515
18,007
10,740
Receipts at the Ports. Stock at Inter
New Orleans,
3,289
2,745
309
lowest 61.
8,792
5,736
The above totals show that the old interior stocks have
decreased during the week 8,193 bales, and are to-night 264
bales less than at the same period last year.
The receipts at the
same towns have been 2,616 bales more than the same week last
Week
381
been 76 and the lowest 36.
MoUle, Alabama.—It has been showery one day and has
rained severely one day, the rainfall reaching eiglity-one hun¬
dredths of an inch.
As the week closes there has been a favor¬
able change in the weather.
We have had a frost this week,
but not a killing frost, that having been confined to the middle
and northern parts of the State.
The frost we have had will
make replanting in some districts necessary. Average thermom¬
63, highest 81, and lowest 40.
Montgomery, Alabama.—The days have been warm but the
nights have been cold during the week, with frosts (not killing
frosts, however) on three nights; rain having fallen on two days,
to a depth of forty-three hundredths of an inch.
The weather
has been too cold, the thermometer averaging 59, and ranging
eter
from 36 to 77.
Selma, Alabama.—Rain has fallen on two days. The weather
during the week has been too cold. We have had a killiDg frost
on one night, but no serious damage has been done.
Madison, Florida.—Rain has fallen on two days during the
week.
The thermometer has averaged 63, the extreme range
having been 55 and 71. We have had frosts on Saturday and
Sunday, with ice on Saturday night. There have been delight¬
ful showers this week, apparently covering a wide area, and
hail with rain on Thursday.
Macon, Georgia.—We have had rain during the past week on
one day.
The thermometer has averaged 69.
Columbus, Georgia.—It has rained during the week on two
days, the rainfall reaching sixty-two hundredths of an inch. The
thermometer has averaged 70.
We have had a rainfall during
the past month of five inches and ninety-three hundredths.
Savannah, Georgia. —It has rained during the week on two
days, the rainfall reaching three hundredths of an inch, but the
balance of the week has been pleasant. The thermometer has
averaged 57, the highest being 74 and the lowest 39.
Augusta, Georgia.— The earlier part of the past week was
clear and pleasant, but during the latter portion it has been
showery two days, the rainfall reaching thirty-eight hundredths
v
of an inch.
The weather lias been too cold, which fact has
probably retarded planting. Average thermometer, 56 ; highest,
74; and lowest 34.
Charleston, South Carolina.—We have had light rains on two
days of the week. Average thermometer, 58 ; highest, 72; and
lowest 89.
Comparative Port Receipts and
Daily Crop Movement.—
comparison of the port movement by weeks is not accurate,
the weeks in different years do not end on the same day of the
month.
We have consequently added to our other standing
tables a daily and monthly statement, that the reader may con¬
stantly have before him the data for seeing the exact relative
A
as
CHRONICLE.
THE
382
named. First we give the receipts at
each day of the week ending to-night.
movement for the years
each port
PORT RECEIPTS FROM SATURDAY, APRIL
[Vol. XXVIU,
■xportsof Cotton!bales) froo« New
VorK«iacese»i.l, 187888 me
Will BHDIHS
5, ’79, TO FRIDAY, APRIL 11, ’79.
Total
SXPOBTKD TO
New
of
Or¬
we’k leans.
D’ys
Mo¬
bile.
Wil¬
Nor¬
folk.
Char¬ Savan¬ Galleston. nah. vest’n.
All
Total,
ming¬ others.
ton.
Liverpool
Sat..
272
268
434
758
Mon
696
525
1,605
1,336
367
654
366
Thur
2,449
3,416
1,390
2,103
1,018
1,372
Fri..
2.000
Tues
Wed
Tot.. 11,630
The
140
202
322
385
274
191
863
538
481
938
483
861
3,184
2,286
4,468
1877.
October..
Novemb’r
779,237
Decemb’r
January
February.
893,661
618,727
566,824
March.
303,955
98,491
578,533
822,493
900,119
689,610
472,054
310,525
285
97
879
8,402
4,487
each month since
288,848
689,264
..
131
91
1878.
.
96
555
Year
Sept’mb’r
130
2,001
1,295
1,554
1,292
movement
Monthly
Receipts.
1,399
Sept. 1 has been
1875.
236,868
675,260
901,392
787,760
500,680
449,680
182,937
26.
2.
9.
2,695
2,822
1,438
5,212
5,491
10,317
9,222
5,310
6,862
7,649
Total French./.
83
9,215
44,851
Bremen and Hanover
528
as
follows:
Other British Porta
Total to Gt. Britain
1873.
134,376
536,968
676,295
759,036
444,052
383,324
251,433
115,255
355,323
576,103
1,668
702,168
482,683
332,703
1 438
83
Total
1,987
198,736
261,C0*2
10,'52
301
•
•
•
•
....
....
128
Spain. Oporto* Gibraltar Ac
All others
259,615
4,812
....
150
•
•
..
....
335
10,652
5,CD
•
•
•
33,529
2, .02
16,487
635
10,362
10,366
31,626
....
.
54
....
....
•
150
4.957
5,610
....
2^398
....
Spain, Ac
....
....
Grand Total
3.322
3,105.
5,610
2,398
| S3!,664
300,714
....
....
6,362
3,793
4,973
-
100
....
64
«
Other ports
5,212
....
....
Hamburg
year.
191,924
301
...
...
to
date.
**•
3,322
2,6*. 5
Havre
April
April
500
—
Total to N. Europe.
1874.
169,077
610,316
740,116
821,177
637,067
479,801
300,128
Ma*ch
1,212
1,573
1,503
1,269
1,453
2,205
Beginning September 1.
1876.
March
19.
period
prev’n*
The following are the receipts of cotton at New York, Boston,
Philadelphia and Baltimore for the past week, and since September
1, 1878:
Tot.Mr.31 4,110,519 3,901,825 3,734,592 3,757,682 3,185,484 3,375,908
87-78
receipts Mar. 31..
92-48
91-09
89-66
88*75
This statement shows that up to Mar. 31 the receipts at the
ports this year were 238,094 bales more than in 1877 and 405,927
bales more than at the same time in 1876. By addin? to the
mbove totals to Mar. 31 the daily receipts since that time, we
shall be able to reach an exact comparison of the movement
for the different years.
1878-79.
1877-78.
1876-77.
1874-75.
1875-76.
1873-74.
Tot. Mr. 31 4,140,519 3,901,825 3,734,592 3,757,682 3,185,484 3,3r5,908
Apr. 1
9,393
"
5....
5,570
6,785
11,236
5,491
*
6....
8.
15,764
9,831
6,849
5,114
14,158
5,317
44
7....
“
8....
10,317
9,222
5,310
6,862
7,649
11,515
9,724
9,790
4,729
“
2
“
3....
“
4...
“
9....
“
10....
“
11....
8.
S.
8,735
8.
5,311
6,277
4,836
15,839
7,094
9,576
4,483
10,114
6,441
3,083
4,915
3,164
8.
8.
5,973
4,406
4,484
10,675
6,138
4,505
5,976
5,160
11,214
6,901
8,003
7,629
S.
8,578
8,487
6,045
4,485
7,523
5,319
8.
s.
12,937
8,291
.
7,694
6,812
5,842
5,037
ascs’TB
philadelp’la
BOSTON.
mew yobk.
Perc’tageof tot. port
BALTIMORE.
FROM
This
week.
New Orleans..
Texas
Savannah......
Mobile
Florida
S’th Carolina
S’th Carolina.
Since
Sept 1.
6.307
1.757
[Since
8eptl.
686
2.578
840
8,463
839 29,153
1,925
20,461
101,282
109,24
12S,24fc
1,259
|Sin£e
This
week.
This
week.
261
This Since
week. Septl'
Septl.
.
.
1.454
66,999
1,013
727
87
37.159
136.083
6.333
Tennessee, Ac
Foreign..
2,349
137,263
....
178
6,ul3
Total this yeai
15,111
770,862
Virginia
North’rn Ports
•
•
%
41,295-
277
204
932
17.986
.
..
19,242
....
•
495
....
..
100
l.oto
45,324!
2,963 103,929
3,282 83,478
12,98<»
48,8 4
-
.
.
...
....
....
1 903
72,163
1,657
•
20,000
1,396 43,942
7
8,610 273,012 :
...
.
.
141,084
’
Total last year.
13,893
780,117
6,15oj283,862
2,995
59,47o!
2,512 128,962
Shipping News.—The exports of cotton from the United
States the past week, as per latest mail returns, have reached
51,090 bales. So far as the Southern ports are concerned, these
are the same exports reported by
telegraph, and published in
The Chronicle, last Friday.
With regard to New York, we
include the manifests of all vessels cleared up to Wednesday
night of this week.
Total baler-.
Total
4,218,354 3,994,919 3,777,041 3,836,777 3,241,562 3,456,918
Percentage of total
91-92
93 53
91-54
92*69
90-87
pt. rec’pts Apr. 11.1
This statement
shows
that the
receipts since Sept. -1 up to
to-night are now 233,435 bales more than they were to the same
day of the month in 1878, and 441,313 bales more than they
were to the same day of the month in 1877.
We add to the last
table the percentages of total port receipts which had been
received Apr. 11 in each of the years named.
Cotton Supply
views
this
and
Consumption.—Our readers will find
subject expressed in
our
editorial columns to-day.
Shipments.—According to our cable dispatch received
to-day, there have been no bales shipped from Bombay to
on
our
Bombay
Great Britain the past week and 15,000 bales to the Continent:
while the receipts at Bombay during this week have been 41,000
bales. Th? movement since the 1st of January is as follows.
These figures are brought down to Thursday, April 10.
Shipments this week !
Great
Brit’n.
Conti¬
nent.
Shipments since Jan. 1.
Great
Total. Britain.
Conti- I
nent.
1879!
J
15,000 15,00o 60,000 110,000;
1878,10,000 29,000 39,000 154.000 215,000;
187713.000 36,000 49,000 193.000 169.000'
,
.
Total.
Receipts.
This
Week.
170.000 41,000
369,000 36,000
362,000 66,000
Since
Jan. 1.
316,000
475,000
517,000
From the
foregoing it would appear that, compared with last
year, there has been a decrease of 24,000 bales in the week’s ship¬
ments from Bombay to Europe, and that the total movement
since January 1 shows a decrease in shipments of 199,000 bales,
compared with the corresponding period of 1878.
Gunny Bags. Bagging, &c.—Bagging has not changed since
our last report, and the market is still
ruling easy. The transac¬
tions are not large, but a fair jobbing demand is
reported
by holders, ana the sales aggregate 500 rolls various
weights. Prices are still quoted at 8>i(q9%c., as to quality.
Butts are ruling steady in price, and there is a fair
inquiry for
small parcels, but no large sales are reported. The transac¬
tions for the week are 500@600 bales, most of which was placed
at 2%c. from store, but for a parcel ex-ship a shade less would
be accepted. The close is easy, with holders
quoting 2}^c. for
light and 2?£c. for bagging quality.
Thb Efforts
of
Cotton from New York this week show
an
increase, as compared with last week, the total reaching 5,362
bales, against 1,793 bales last week. Below we give our usual
table showing the exports of cotton from New York, and their
direction, for each of the last four weeks; also the total exports
and direction since Sept. 1, 1378, and in the last column the total
for the same period of the previous year.
New York—To
Liverpool,
per steamers
City of Chester, 401
City of Brussels, 344
Helvetia, 1,264... .Imbros, 500
Baltic, 3
per ship Mistley Hall, 2,700
To Bremen, per steamer Donau, 150
New Orleans—To Liverpool, per steamer Mediator, 4,044
per ships Kimbum, 2,565... per bark Jacob Kauers, 1,708.
To Rouen, per bark Filadelfia, 357
To Bremen, per steamer Braunschweig, 2,775
To Reval, per ship Camperdown, 4,616
per bark Albert,
3,000.
To Barcelona, per ship Ida Lilly, 1,700
To Malaga, per bark Idea, 1,500
To Vera Cruz, per steamer City of Mexico, 579
Charleston—To Reval, per bark Therese, 4,100 Upland
To Gottenburg, per bark Vanadis, 1,350 Upland
Savannah—To
Bremen, per bark Florence Chipman,
15<>
8,317
357
2,77.5
7,61b'
1,700
1,500
579
4,100
1,350
3,175
Upland
To Reval, per bark Theodor, 985 Upland
To Nordkoping, per bark Milton, 1,675
Texas—To Liverpool, per bark Herbert
5,212
3,175
985
1,675
Upland
C. Hall, 2,140
per
brig Mira, 1,035
3,175
1,686
To Gottenburg, per bark Agder, 1,686
Baltimore—To Liverpool,- per steamers
Caspian, 944
Nellie
Sardinian, 415 and 384 Sea Island
Carib¬
bean. 324
Californian, 200
To Bremen, per steamer Hansa, 291
Boston—To Liverpool, per steamers Minnesota, 684
Bavarian
Martin, 500
2,147
Total
are as
291
2,831
Philadelphia—To Liverpool, per steamers Devonshire, 13
British Empire. 800
San Francisco—To Liverpool, per bark Sttrah Bell, 36 (foreign;.
The
2,767
:
81336*
51,090
particulars of these shipments, arranged in
our
usual form,
follows:
Gotten- Baree-
Liver¬
pool.
New York... 5,212
New Orl’ns.. 8,317
cs
Charleston
Savannah
Texas
..
Rouen.
Boston
..
357
3,175
-
2,767
2,831
Philadelphia
813
8. Francisco.
36
....
23,151
Reval.
7,616
3,175
4,100
985
.
291
0)
»
.
4.
....
357
Iona
and
koping.Malaga.
Vera
Cruz.
....
2,775
...
..r....
Total
men.
150
...
Baltimore
burg A
Nofd-
Bre-
....
....
....
1,350
1,675
1,686
3,200
579
....
....
T
....
....
....
....
.....
-
....
....
.....
....
....
....
....
....
....
....
....
....
—
....
6,391 12,701
4,711
3,200
579
Total,
5,362
22,844
5,450
5,835
4,861
3,058
2,*31
813
30
51,010
Below we give all news received to date of disasters to vessels
carrying cotton from United States ports, etc.:
Coquet, steamer (Br.), which arrived at Liverpool, March 20, from
Galveston, in a heavy gale of March 2d lost lifeboat and sustained
other slight damage.
Mikaix), steamer (Br.), from New Orleans for Liverpool, which had been
ashore at Port Eads, Ac., sailed thence April 6 for destination.
David Brown. The cargo of damaged cotton (47 bags Sea Island and
2,881 bales Upland) ex ship David Brown, which was'burned at
Charleston, March 23, was sold by auction at that city, April 4, t*»
April
THE CHRONICLE.
12, 1870.]
McFadden & Bro., of Philadelphia, tor $28 25 per bale. The injury
to it was almost entirely from water.
Kmma. ship (Fr.), Escolivet, was still effecting temporary repairs at St.
Michaels on March 18.
Lancaster*, ship (1,566 tons, of New York), Leland, at Galveston, for
Liverpool, took fire night of April 3d, and will prove a total loss.
She had 1,700 bales of cotton on board.
Sirkne, bark (Ger.), from Wilmington, N. C., which arrived at Falmouth,
&t\, sailed thence and arrived at Amsterdam April 4.
Wkttkriiorn, bark, from Galveston for Liverpool, had nearly-completed
repairs at Bermuda, April 3, and w ould commence re-loading cargo
on the 7th.
She expected to get away in about 12 days.
Feb. 22. The ship Virginia, which arrived at Bremen, March 18, from
New Orleans, reported having passed at 8 A. M. on Feb. 22, in lat.
40:32 N., Ion. 53:10 W., an abandoned bark, hull painted black,
deck yellow (straw color), with masts standing, sails bent, and
rudder and wheel lost. The vessel w'as apparently American built,
and her cargo was supposed to consist of cotton or Petroleum.
Cotton
freights the past week have been
as
follows:
383
BREADS TUFFS.
*
The
'
Friday, P. M., April 11, 1879.
market has been dull, and
prices drooping ; a lower
range is necessary to stimulate business, but production having
been curtailed materially, there has been no great
pressure to
realize, and no important reduction can be made in quotations ;
the most that
can
increased business
Yesterday, with
be said is,v that inside
was
done in
prices rule. An
meal, but the close is dull.
corn,
heavy storm raging, and on the eve of the
closing of the Produce Exchange, business was nearly at a stand¬
a
still.
Mon.
Satur.
Liverpool, steam d.
do
sail
d.
.
Havre, steam
do
....®
....®*4
*4
....
c.
Bremen, steam,
....
Wednes.
Thurs.
® *4
Fri.
..®*4
.
.
®^8* ....®*®8
® *2
*2
--.®
.
.
.
.
®
....®
....
Sq*
*2
.
.
.
.
....
®
Sg*
®
*2
sail
..
.c.
.c.
Amst’d’m, steam
do
sail
do
~
*
....®
....
'a)...
c.
..
Baltic, steam
....®
c.
®
*2
58
'a)...
d. ...,®716 ....®710
Tt
*3
....®
...®
Sg
....®">8
....
.
....®
e:
Tl
C
.
c
-®716 ....®7io ....®7is
O
Compressed.
Liverpool.—By cable from Liverpool,
statement of the week’s
Mar. 21.
•Sales of the week
bales.
Forwarded.... ;
Sales American
Of which exporters took
Of which speculators took..
Total stock
Of which American
Total import of the week
Of which American
Actual export
Amount afloat
Of which American
Mar. 28.
71,000
72,000
8,000
55,000
7,000
8,000
549,000
414,000
48,000
34,000
8.000
56,000
7,000
....
The tone of the
we
have the following
sales, stocks, &c., at that port
7,000
567,000
432,000
89,000
75,000
9,000
370,000
310,000
5,000
367,000
313,000
:
April 4.
April 10.
59,000
8,000
39,000
4,000
6,000
587,000
475,000
7,000
578,000
459,000
99,000
70,000
97,000
59,000
5,000
300,000
241,000
5,000
264,000
217,000
Liverpool market for spots and futures, each day of
the week ending April 11, and the daily closing prices of spot cotton,
have been
as
follows:
Saturd’y.! Monday. Tuesday. Wedn’sdy Thursd’y Friday.
Spot.
) Gooddem. Good
Vnrirpt
freely met
^ »at pry p09<
Mid. Upl’ds
6*8
12*30 P.M.
pm (
Mid. Orl’ns.
5
at prv pcs.
Quieter.
Firm.
631S
Sales
10,000
10,000
2,000
2,000
6*3
6*4
s»
8,000
1,000
10,000
1,0C0
£
Futures.
Market,
rket,
5
P. M*
C
l
j
Quiet but
steady.
Firm.
Steady.
important change, but a decline in
activity in that grade. Supplies
at the West are considerably smaller than last year, and yet
there appears to be no deficiency of stock. Yesterday, No. 2
mixed sold at 45c. on tlie spot, 45%c. for May and 45%c. for
June, and steamer mixed 44%@44%c. on the spot and 44c. for
May. The offerings of Southern com have fallen off.
Rye has been in moderate demand and steady, the sales
including 25,000 bush. Canada, to arrive in May, at 63c. Bar¬
ley exceedingly depressed under offerings to close out stock,
and yesterday Canada East sold at something under 70c. Some¬
thing has been done in feeding barley at 40c. Oats were mod¬
erately active, with some advance paid for white, and the close
was steady, with No. 2 graded quoted at 31%c. for mixed and
more
34%c. for white.
The following are closing quotations
:
Grain.
# bbl. $2 40® 3 00
Superfine State & West¬
3 30® 3 65
3 60® 3 90
ern
O
.1
8,000
1,000
and $1 12% for June.
Indian 'corn is without
No. *
eS
•c
Unch’ged. Unch’ged.
Spec. & exp.
Quiet but
c
steady, offer’gs free
Extra State, &c
Weatcrn spring
extras
wheat
3
4
...
do XX and XXX
do winter shipping ex¬
70® 4 00
15® 6 00
3 90® 4 25
4 50® 6 00
5 50 ® 8 25
tras
do
XX and XXX..
Minnesota patents
City shipping extras
3 85® 5 15
Southern bakers' and fa¬
The actual sales of futures at Liverpool, for the same week, are given
«below. These sales are on the basis of Uplands, Low Middling dai
c iuse.
‘Tinlesa otherwise stated.
mily brands
Southern shipp’g extras.
Rye flour, superfine
Corn meal—Western,&c.
Corn meal—Br wine. &c.
4 75®
4 20®
2 85®
2 10®
2 55®
6
4
3
2
2
25
67
15
25
tO
Wheat-No.3 spring,bush. $0 92®
94
No. 2 spring
1 0*® 1 04
Rejected spring
Red winter No. 2
White
No. 1 white...
Corn—West’n mixed
do
No. 2, new
yellow Southern
76®
78
13#® 1 14
1
1 08® 1 14
1
...
new.
white Southern new.
11#® 1 12
43® 45#
45® 45#
45®
46
Rye—Western
8tateand Canada
Oats—Mixed
White
.....
Delivery.
d.
6316®732
6*4®932
64*32
April-May ..6iis®*32
July-Aug
Aug.-Sept
Sept.-Oct
.
I
Delivery.
I May-June
I June-July
I
I
d.
6*1*
6&32®*6
631Q
July-Aug
Monday.
Delivery.
April
Aug.-Sept
CI4
6^32
Apr.-May 6332® 1 ic© 1:v2 Apr.-May
..Giis
May-June. 6*i®3;i2®i16 May-JuneJ.. _.633o®ie
June-July
.031<,'&5;i2 June-July
0310
July-Aug
614'2>732
..
Delivery.
July-Aug
6316®732
July-Aug
64
Aug.-Sept
69.32
Sept.-Oct:...65is®ii32
Tuesday.
Delivery.
Apr.-May.....
May-June
June-July
July-Aug
6
6* is
6 is
6532
Aug.-SCpt
6732
6316
6*32
6332
Oct.-Nov
April-May
May-J une
....
Delivery.
June-July 6:*32® *s® 532
Aug.-Sept
6H
Apr.-May
6 4s
May-June
6%
June-July
July-Aug
Aug.-Sept
6332
6732@i4
6^2
Delivery.
April
6t is
April
Apr.-May
..6L6®332 May-June
May-J uue
6332® % June-July
June-July.. ..G^^is April
July-Aug
G732® 14 May-June
Aug.-Sept
6^32® 5is June-July
..
64
June-July
6316
6532
6732
64s
6332
63'32
Delivery.
6339
G532
6732
July-Aug
6^8
July-Aug
Aug.-Sept
63la
64
.
May-June.. -6732®3is
($32® >4
June-July
Delivery.
July-Aug
Aug.-Sept
May-June
6516
63q
6732
Friday.
Good
Friday—Holiday'
63
61
Barley—Canada West
State, 4 rowed
State, 2 rowed
Peas—Canada bond&free
®
®
....
®
...
....
90
78®
1879, and from Jan. 1 to April 5, and from Aug. 1 to April 5.
Flour,
bbls.
Chicago
.
Milwaukee...
Toledo
Detroit
Cleveland
8t. Louis
Peoria
Duluth
Aug.-Sept
Sept.-Oct
69;
6II32®
64® 1332
69^
6H32
Total
Previous week
.
(196 lbs.)
4S,1C3
49,465
427
.
.
Wheat,
Corn,
bush.
Oats,
bn^h.
bash.
(00 lbs.)
(56 lbs.)
891,631
(32 lbs.)
163.661
161,3S0
47,848
5,370
221,438
18,600
3,641
Barley,
bush.
bush.
(48 lbs.)
(56 lbs.)
9,778
9,332
10,400
3,595
4,426
3,26!
195,867
4,090
75,646
2,065
25,000
13.600
410
24.195
161,274
211,753
126,973
20.207
2,386
2, ICO
229,520
48,850
7,500
>
•
•
• •
•
—
7,663
....
Rye,
-
*
*
*
6,101
•
....
•
*
# ♦
•••
•
•
•
11,495
7,850
....
Delivery.
Sept.-Oct
June-July
July-Aug
6i3So
..6932
6ii32
123,371
135,403
786,869
815.400
1,440.985
1,420.080
440,225
54,436
82,272
602,540
39^,559
Corresp’ng week,’78. 125,711 1,238,794 2,215,590
84,918
Oorresp’ng week,’77.
239,375 1,121,975
224,7&8
Tot. Jan.l to Apr. 5..,1.740,023 15,263.665 18,975,717 5,793, U7
Same time 1878.... .1,551,140 14,323,594 17,579,935 5,110.221
Same time 187?
1,079,982' 4,205,001 15,636,614 3,408,469
Same time 1876
1,315,497 9,297,648 15,204,900 4.283,204
Tot Aug. 1 to Apr. 5. .4.484.579 71,352,431 59.046,112 21,753,427
Same time 1877-8.. ,4.323.534 57,808,885 52,669,551 17,521,778
Same time 1876 7... .3.7*3,674 33,597,938 54,386,545 14,454,258
112,865
84,461
89,079
1,917.116
49,825
96,682
,
.
.
,
2.070,650
1,520.983
2,171.541
8.760,862
8,549.510
7,^6.639
Same time 1875-6... 3,621,400 49.U0.344 35,703,572 16,835,785 6,758,139
45,742
751,063
921,455
549,611
317,265
3,707,405
2.901,272
2,407,095
1,547,115
Shipments of flour and grain from Western lake and river
ports from Jan. 1 to April 5 for foar years.
Thursday.
Delivery.
April-May
6^32® *8
61®
Delivery.
May-June
June-July
Aug.-Sept
April
Apr.-May
May-June
Wednesday.
Delivery.
50
Receipts at lake and river ports for the week ending April 5,
At—
Delivery.
48®
59®
20® 32tf
33®
37
Saturday.
Delivery.
d.
April
63;i2
Apr.-May..... 6* ie®:*32
May-June
June-July 6i8‘®532‘®:Ji6
at
low; still, in the
desire to reduce
stocks in store, prices have given way. Yesterday, there was a
moderate business, including No. 2 spring at $1 04 on the spot
and $1 02% for May ; No. 2 amber $1 10%@$1 11 on the
spot,
$1 11@$1 11% f°r May, and $1 11% for June ; No. 2 red win¬
ter, $1 14 on the spot, and $1 14(5j$1 14% for May and June ;
and No. 1 white, $1 11%@$1 12 on the spot and for
May,
Flour.
t’ly dearer
6*16
63i6
slight but general
.
and frac-
w
jj
P. m.
Firmer
6i8
614
6q
}
Market,
dem.
freely met
wheat market,
Receipts have been small, both here and
‘‘steamer” mixed led to
69,000
6,000
51,000
4,000
our
the West, and ocean freights are exceptionally
face of unfavorable foreign advices, and a
d.
sail
depression in
o
*2
@.
almost uniform
decline in values.
*3
....®58
@...
....'w
...
*2
was
cs
a
**2®916 '*2®916 **2®916 **2®91S **2®916
do
sail.....c. 1532'@12 1532® *2 *5U2® *2 1^32® *o 1^32® *2
Hamburg, steam. c. *91S®
*916®'®8 *910®
*916®58
do
There
and there is, for the week under review, a
316'®732 3ie®732 310©732 310®732 3is®732
c.
sail
Tues.
Flour,
Wheat,
Corn,
Oat*,
bbls.
bush.
bush.
bush.
Jan. 1 to Apr. 5.
1,79 >,724
Samp time 1878
1,560.156 12,536,124 12,402,843
979,897 2,040,3^6 8 516,802
1,420,471 4,713,615 10,660,554
Same time 1877
Same time 1876
Rail
8 376,869 10,683,798
Barley,
bush.
4,006,208 1,309,425
8, 77,097 1,196.493
Rye.
bush.
453,154
2.05 5.81?
957,919
590,532
261,769
2,520,916
863,383
197,118
shipments of flour and grain from Western lake and river
ports.
.
j
r 384
THE CHRONICLE.
Week
Flour,
bbls.
Corn,
Oats,
bush.
363,735
3L\056
Barley,
Rye,
bush.
97,286
bush.
83,991
80,647
23.161
6,393
Dutch West
Indies, 84 to British West Indies, 60 to Mexico, &c.
an unusually large shipment of 8,607
pack¬
43,407
ages was made by steamer “ Serapis,” of which 8,555 were for
178,775
83,057
115,401
146,188
67,4C9
Shanghai and 52 for Yokohama. There was a very strong tone
in
the cotton goods market, and a large business in brown,
Receipts of flour and grain at seaboard ports for the week end¬
ing April 5, 1879, and from Jan. 1 to April 5.
bleached and colored cottons was reported by both agents and
Flour,
Wheat,
Corn,
Oats,
Rye,
Barley,
jobbers. Many additional makes of goods were advanced from
At—
bbls.
bueh.
bueh.
bueh.
bueh.
bueh.
Hew York
104,774
S77.516
573,206
223,041
12,650
11,788 5 to 7/6 per cent, and nearly all fabrics were stiffly held at the
Boston
34,2:5
105,950
166,700
113,800
14,900
40 0
lately-revised quotations. Stocks are very light in first hands,
Portland
10.500
103,000
1,800
1,000
Montreal
7,058
7,350
and numerous makes of brown and bleached goods, wide shirt¬
525,500
Philadelphia.
15,440
293,300
66,500
25,000
40.000
Baltimore
21,253
392,300
56,000
794,500
1,400 ings, denims, quilts, &c., are largely sold to arrive.
Print
New Orleans
‘
9,685
391,865
100,000
cloths were active and very firm at a slight advance—say 3%c.
Total
202,955 1,771,066 2,453,571
560,361
59,400
63,588 cash for 64x64s and 3%c. cash for 56x60s.
In prints there was
Previous week
1*0,371 1.902,704 1,847,522
69,350
520,896
44,344
Corresp’ng week,’78. 165,403 1,327,132 2,724,763
324,402
72,600
160,323 an active movement and some makes that have been selling at
Tot.Jan. 1 to Apr. 5..2,677,864 20,773,629 24,950,375 4,726,634 1,183,019
640,794 relatively low figures were advanced by agents.
Printed lawns
Same time 1878
2,243.838 17,574,261 26,307,812 3,715,925 1,800.416
919,724
Same time 1877
1,721,323 1,494,339 18,756.771 3,339,435 842,859 285,174 and organdies moved slowly; but ginghams were more freely
Same time 1876
2,331,437 5,214,416 18,297,298 4,004,683 1,546,t22
74,994 taken
by package buyers, and Amoskeag staple ginghams were
Exports from United States seaboard ports and from Montreal, advanced to 9c.
for week ending April 5, 1879.
Domestic Woolen Goods.—There was a continued light de¬
Flour, Whest,
Corn,
Oats,
Rye,
Peas,
mand for spring-weight clothing woolens at agents’ hands, but
From—
bbls.
bueh.
bush.
bush.
bush.
bush.
a
New York
81.762
846.527
601,956
2,695
70,639
fairly satisfactory distribution of fancy cassimeres and chev¬
8,026
Boeton
7,344
86.274
92,040
512
iots
was reported by cloth jobbers.
Beavers and rough-faced
Portland
9.075
105,000
17,600
Montreal..,
overcoatings were rather more sought for by clothiers, but the
Philadelphia
5,621
1=7,959
2 80,375
1,010
demand was not general, and transactions only moderate in the
Baltimore
8,495
224,958 1,047,6:8
20
Kentucky jeans were in irregular request, and on
Total for week.. 109,207 1,450,728 2.020,027
3,257
71,649
25,626 aggregate.
Previous week
151,690 2,013,777 1,516,860
9,S96
75,664
29,997 the whole sluggish, while there was a light and unsatisfactory
Two weeks ago
11S317 1,8:0.023 1,667,743
4,345
20,915
26,436
Stocks of light-weight clothing woolens
Same time in 1878...
94,181 1,357,919 1,753,452
3,944
1C6.570
S9,i67 demand for satinets.
are
comparatively small, and most of the mills are now*
The visible supply of grain, comprising the stocks in granary
running on heavy fabrics for the fall and winter trade. Worsted
at the principal points of accumulation at lake and seaboard
ports, and in transit by rail and afloat in New York and Chicago, dress goods were a trifle less active, owing to the inclemency of
April 5, 1879, was as follows:
the wreather; but there was a fair demand for small parcels of
Wheat,
Corn,
Oats,
Rye,
Barley,
alpacas, poplins, de beges, cashmeres, &c., and plain and fancy
In Store at—
hush.
bush.
bush.
bush.
bush.
New York
808,584
650,3(8
2,629.023
423,832
403,238 buntings continued in steady request. Shetland and lace shawls
70,000
Albany
61,000
170,000
67,500 met with moderate sales, but worsted shawls dragged heavily,
Buffalo
335,860
462,239
159,757
20.757
32,600
499.268
2,673,701
Chicago
7,196.630
616,632
249,172 and a considerable line was closed out. at auction at very low
Afloat in Cnicago
25 6S5
164,323
1,02s,115
prices.
Milwaukee
117,8-’0
200,903
146,803
156,630
Duluth t
1,265
Foreign Dry Goods.—There was not much spirit in the de¬
70,000
Toledo
37.971
.*65,555
1,497,457
2,315
mand for imported goods at first hands, and transactions were
Detroit
797
3,063
11,980
175,000
350,000
Oswego *
30,000 almost
wholly restricted to relatively small lots of staple fabrics
8t. Louis.
28i,l1l
141,319
51,767
1,883,018
15,694
Boston
218
and specialties in dress goods, millinery goods, silks, &c. Prices
94,730
344,795
GO,178
10,110
Toronto"
76.366
2.2; 9
357,492
21,936
were essentially unchanged in private hands, but there was a
Montrea +
85.853
869
118,252
83,679 23,992
53.555
260.400
Philadelphia
slight decline in dress silks when offered in the auction rooms,
Peoria
5.0S8
26.502
257,371
82,743
3,767
as they repeatedly were during the week.
67,777
2,719
17,500
Indianapolis
Lupin’s dress fabrics
Kansas City.
23C-.S91
390,732
6,569
1,069 were offered
at
and
auction
disposed
of
to fair advantage.
Baltimore
827,963
Rail shipments, week...
1,367.592
363,735
83,951 Linen goods, white goods, Hamburg embroideries and laces,
97,286
Afloat in New York*....
240,000
25,000
£0,0CU
90,030
though jobbed in considerable quantities, ruled quiet with im¬
12,522,454 2,214.697 2.337,209 1,10\799
Men’s-wear woolens continued in strictly moderate
March 29. 1879
....19,314,257 13,CO',969 2,430,280 2,885,6*6 1,180.139 porters.
March 22, 1879
.20,080 441
13,150,646 2,271,434 3,139,433 1,23*5,595 demand, and there was a very limited inquiry for Broclie shawls.
March 15, 1679
.20.985,326 13,342,312 2,153,016 3,(96,617 1,195,233
ending—
April 5, 1879
April 6, 1878
April 7, 1877.
April 8, 1876
'
Wheat,
[Vol. XXVIII.
126,390
133.110
86,303
bush.
920,764
808,473
221.235
144,908
bosh
1,’67,592
1,254,485
1,067,854
775,195
....
....
Since the above date
....
....
....
.
....
...
....
....
...
....
....
....
1
....
....
...
..
...
.
..
•
...
.
..
..
_
...
•
•
•
.
...
.
...
....
,
.
,
.
..
•'
•
•
•
...
a
m
m
...
....
..
..
March 8, 1S79
March 1, 1879
Feb.
22, 1679
April
*
.
21,416,359
...,21,104.121
£0.716,649
14,033.832
13.801,527
12,596.683
2,062 828
2,202,169
3,555,296
3,850,635
2.162.019
7,211,562
8,451,380
2.258,813
4,167,046
2,2 8,443
..
...
6, 1878
...
Estimated.
1,224799
1,264,275
1,213,583
513,302
Importations of Dr jr Goods.
The importations of dry goods at this port for the week ending
April 10, 1879, and for the corresponding weeks of 1878 and
1877, have been
+ March 29.
follows:
as
10, 1879.
ENTERED FOR CONSUMPTION FOR TIIE WEEK ENDING APRIL
The
active
package trade in cotton goods has continued fairly
the past week, and there was a liberal movement in
printed calicoes; but business generally was quiet with the
.commission houses and light with importers. Orders by mail
and telegraph were received to a considerable aggregate
amount by manufacturer’s agents, and accounts from most of
the
principal distributing points in the West, Southwest and
South represent a fairly satisfactory condition of business in
the interior.
The
jobbing trade
to the unsettled state of the
seasonable
somewhat irregular, owing
weather, but a fair distribution of
was
made in moderate parcels by most of the
leading firms. About 3,000 pieces of worsted coatings of the
manufacture of Messrs. Scheppers Brothers were peremptorily
•old
by
goods
one
was
of the leading auction houses, at low
Pkgs.
396
800
575
727
,
427
146,445
263,898
392,641
169,277
.
112,333
2,93c 1,084,594
Total
Domestic Cotton Goods.—The exports of domestics from this
port to foreign markets during the week ending April 8
were
1,156 packages, including 293 to Great Britain, 149 to U. S. of
♦Colombia, 125 to Hayti, 115 to Bremen, 100 to Venezuela, 98 to
Value.
348
996
485
812
933
Cotton
Silk
Flax
Miscellaneous
Total
entered
Add
•
306
198
128
385
Total thrown upon
market
159,776
THE
1,416
3,820
117,867
50,237
111,399
84,738
38,073
2,622
502,631
4,837
402,314
MARKET DIR
2,594
100,679
49,634
69,412
71,995
40,910
3,487
332,630
267
*
172
86
368
2,931 1,084,594
3,574 1,062,054
4,577 1,007,698
5,553 1,587,225
8,411 1,464,368
8,064 1,340,328
SAME PERIOD.
Manufactures of—
1,675
125,971
67,181
69,321
86,768
62,940
1,690
94,628
35,549
59,894
32,560
78,747
1,173) 382,065
2,650
412,181
2,257
301,378
2,93111,084,594
4,104^1,466,659
3,574 1,062,054
4,577 1,007,698
6,224 1,474,235
6,834 1,309,076
380
252
81
393
67
Wool
Cotton
Silk
Flax
Miscellaneous
for
consumption
Total entered at the
port
2,128
274,625
178,045
for
consumption
Total
Add entered
133,590
261,662
4,577 1,007,698
3,574 1,062,054
175,069
83,693
125,893
72,851
45,125
431
254
121
400
Value.
336
816
444
823
•
125,184
292,172
332,392
186,333
125,973
WITHDRAWN FROM WAREHOUSE AND THROWN INTO
ING THE SAME PERIOD.
Manufactures of—
wool
Pkgs.
$
$
Manufactures of—
Wool
Cotton
Silk
Flax
Miscellaneous
ENTERED FOR WAREHOUSE DURING
average
prices. Allen’s Print Works of Providence, R. I., have become
financially embarrassed, and it is understood that they have
applied to their creditors for an extension of time.
Value.
Pkge.
Friday, P. M„ April ll, 1879.
1879.
1878.
1877.
THE DRY GOODS TRADE.
70,702
60,961
83,545
348
250
103
374
17,229
149,628
210
139
86
132
@FedFRASER