Full text of Commercial and Financial Chronicle : April 18, 1896, Vol. 62, No. 1608

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H U N T ’S

M ERCHANTS’

gi

M AGAZINE,

W e e k ly

R E P R E S E N T IN G T H E IN D U S T R IA L A N D CO M M E RC IA L IN T E R E S T S OF T H E U N IT E D S T A T E S .
(Entered nouor tin ? to Act o f Orngre.*, in the year 1898, b y the W i l m a * B. D m

V O L. 62.

ODx p a k y , to the oiUee o f the Librarian o f Congress.]

S A T U R D A y T a P r S T 18, 1893.

Week errviiftfl April tl.

The Chronicle.

Clearings a t ~

C erau o f Suiisseripttoa—P ayable in A dvan ce;
F .r u n e y e a r .............
. . . #10 04)
For Sir Mouth* ----6 00
Earopean Suiwuriptioa <lnoiudlng p osta g e)...................... 12 00

European SnbsoTiption Sir Month* Undo ding postage).
7 00
Annual Snbscriptioo in London ilneiudlng postage)___* 2 10».
Six Mo*.
do.
do.
do.
. . ..£ 1 1 0 * .
The U m w io M ’ sorrh sa eS T w ill he fn m U h ed without extra charge
to every annual »ul>»<T iber o f the CoMJfRitciAi. a s o F inancial
C h k osicle .
The a rA *» awo C rrt 8 o r «.s * K > rt w ill also b e forniahed without
eetlra charge to e very anbaertber o f t h e ’ llarwct.it.
The Stkkct R ah .w a t s c m s t i m wtii likew ise be tstrniahed with­
out extra charge to every adMortber o f the CiraoxiCLK.

The QoiyiATtor ScrPtBwBjrT. l-woed monthly. wilt also be forniahed

without extra c h irg e to every anti*, riber of the CHaosjci.a.
- Pile cover* are sold a t 50 cent* w w b ; postage on the game Is 18
cent*. Fib* c ov er fo r *uppiem «at* cab be h >.l a t office for 65 cents o r
m ailed fo r -SO eenta.

T e r m s of A d v e r t is in g — ( P e r in c h
One uu«. — ....................... *6 So : Phrmi Montha
One Month
4 tiajrsi.. 1 i oo el* Months
T w o Mouth.
(8 •• i . IS OO I twelve Montha

NO. 1,608!"

sp*ce).
(13 ttium,.. #25 o i
(26 •*
i3oi)
(52 "
58 00

New York..
Philadelphia..
Pittsburg,.,,.,
Baltimore,,..,
w £ l\ n gtoa “
Rochester..
Syracuse.-...
Scranton.....
WHmi»«to*i„
Binghamton
Total Middle....
Boston.. ««»»•**•<
Provides©#..... ...
Hartford... — ...
New Haven.......
Springfield.. . . . . . .
Worcester,.........
P o rtla n d .,.,.. — .

Fall River.. .......
s > P B * d fo r d ;::::
Tola) New Boa.,

Chicago.................
CtfMS.ooatS.------...
Detroit. - — ----Cleveland. .... ...
( The above term* for woe rountn and upward are fo r standing cards.) Mfiweokie....... Gotbmlra*
L ondon A g en t*:
Indianapolis
Messrs EDWARD# A SMiTB. t Draper*' Garden*, E. 0., will taka eat* Peoria..,,,. . .......
Grand
Rapid* ...
scription* and A dvertisem ent., and supply single o o p ie a o f the paper l.exlnjrton..........
as 1*. each.
KalM»«eoo«s** *,*.
Akron............ ....
W IL L I A M H. D A N A C O n P l .1 V , P u b lla h e r a ,
Bay C ity ........
P in e S lr r e t , C o r n e r o f P e a r l S tre e t,
Rockford.... ......
Springfield, OhioPaw O w e s BOX 958.
NKW T lllts
C a n ton .,.,.........
Toledo* ..........
Day ton*....
Tot, Mid- West’s
CLEA R IN G HOUSE RETURNS.

The follow ing table, made u p by telegraph, e tc., indicate*
hat the total bank clearing* o f all the clearing houses o f the
United Mwtee for the week eliding to-day, April 18, have
been <1,006,561,988, against $i«H.'HS.088 last w e e k and *991,7id,(W'T the corresponding week o f last year.
CLlARIXnS.
Return*
IMrgraph.

tP«* Undine April Iff.
189#.

1895.

Per Vmt

N»w T or*..............................
B oston........... — ________ _
Philadelphia............ .. . . . __
BaiUroore.................... ..........
Chicago ...... ............... .. .......
Bt. Louis ........ .....................
Nsw Orleans............... ..........

*45«.78«.038
73,301,730
54,036,750
13.347,038
79.348,115
31.047,857
7.387,303

*457,841.159
80,037.391
82,1*4.423
11,498,598
70,029,735
30,744, « S
9,163,372

-0 3
-F230
-12*1
+0-5
+13*3
+1*5
-—19*2

Seven cttlee. 5 d a y s........
Other oitles, 5 days...............

#704.743,663
139,798.849

$>391,497,005
195.436.939

+19
+ 3S

Sen Francisco.
Salt La** City...
Portland
Los Angeles.
Helena.............
T acom a....-..,.
Seattle...........
Spokane..,.....
Fargo, .........
Sloe* Falls,,
Total Pad He.
Kansas City,
Minneapolis.......
Om aha...... .... ...
St, Pan!..........
D en ver............
St Joseph ........
D«a M oines........
Sioux C ity .........
Lincoln. ..... ......
Topeka. .. ........
Wichita... . . . . . . . .
Frem ont..... .... ..
Hastings.
Tot. other West.

m.wc.m

Louis.....
*4*2*0 St.
New Orleans,
—2*7 Louisville,...
Galveston..,.
Total all oltlse for wssk.
*1,008,561,988
*994,748,897 1
-H*2 Houston......
Savannah—
The full details o f clearings for the week covered by the Richmond—
....
above statement wilt be given next Saturday. W e cannot, of Memphis
Atlanta.......
Total ail oitiee, S d a y s....
A lleitiee. 1 day.....................

*834,843,532
172,019,438

M17.934.83H
178.811,869

course, furnish them to-day, bank clearin gsbein g made up by
the various clearing houses at noon on Saturday, and hence in
the above the last tw enty-four hours o f the week have to be
In all cases estimated, as we g o to press Friday night.
Our usual detailed figures for the previous week, covering
the returns for the period ending with Saturday noon, April
11, are given below, and we also present the results for the
corresponding week in 1895, 1891 and 1893. In comparison
with tn« preceding week there is a gain in the aggregate
©Nthan^es o f about tw o so d a-half million dollars, but a*
]New York alone the decrease in three million*, Contrasted
with the week o f 1895 the total for the whole country shows
an increa o o f 8-9 pur cent. Compared with the week of 1891
the current returns record a gain of 8 per cent and the lo»from 1893 m 30 5 r.er cent, Outside of Mew York the gain
over 189 . is 7*4 per cent. The excess over 1894 reaches 8 3 pm
c -n t, but making comparison with 1893 the low is seen to be
17*1 per cent.

9.14A.01F

2..T7IMSI

J,099.640

I K

NMbviifi'.."*'
Norfolk— .
W aco.,.,....'
Fort Worth..
Augusta. ....
Birmingham,,
Little Roc*,.
Jacksonville.
Chattarsnosm.
Kfioatvllle*
Total Sooth era,.
Total all,..
Outside N. York
Montreal,.
Toronto, . ...........
H a li f a x . . . . . . . . . .

:r

l.**7.2 5 5
1,102 m
leim .tw
991.6*7

2838

689.442
410,202

8YF.2I l
m i7 4
850,000
4S0.3P.

22 022aO

24.161,435
7.604.094

7,1^8.011

5.6-0.0801

6 .t 80.265
2,024,77f>
1,811 104

tfS S S

I1.670.8)1
S ffi

2jmsm\
2,3- O.OuO

1.1 ri 1.240

1,007,720

1 067, «51

sir.?,836

m<m\

1A8S.180
516.720
MO,000

808 3011

1,216.0201
812,478]

538,213

l* Ii

271.645

-« T
m iM -tM '

205,748

614,879

4«3,8PS>
2 07,»tio

630.41»
471,010

51,068.634 "OM2RO04
S8Q.t26.3M 1,218 670 874
HO S IM 47j “ m S S O l 0

7.418,8^8

ri.a7CM2.-i
m\i$m

Total Canada.,...
4 Not Included In totals.

9,503,3-18

.

74MB'

0,81.0.176

5.020,804
ra*f vt:*
Sta,481)

673.18-!

174B1 Sngi

11,383.666 •
6.240,780
1,441,700

!3I / ,1H3>
817,104
1*889,431)

702

THE CHRONICLE.

[VOL. L X II.

eral, and round amounts have been placed at 4 per cent
TH E F IN A N C I A L SITUATION.
for four months. Discounts of sixty to ninety-day
Under the influence of the change in the weather bank bills in London are only 9 16 of 1 per cent,
there has been a considerable improvement in the gen ■ and for call money the market there is so glutted that
eral situation the past week. The retail trade par­ nothing better than £ to 4 of 1 per cent can be obtained
ticularly has felt the beneficial effects.
Tuis trade It is not surprising, therefore, that bankers regard a
had suffered severely as the result of the prolonged 4 per cent rate for four months’ contracts as satisfac­
period of bad weather which the country has experi­ tory. This loaning of foreign capital and the drawing
enced since the beginning of February. But this week of loan bills have materially contributed to the ease in
the accounts speak of a very active distribution of the foreign exchange market, counteracting the effect
goods by retailers here and in other leading cities, upon the public mind of the further shipment of gold
with a consequent drawing down of unsold stocks, to Germany on Russian account.
Bankers and merchants in various parts of the coun­
which previously had been large. In the dry goods
try
are taking vigorous action against free silver, and
trade increased orders are already noted for supple­
mentary supplies. A t the same time the fact that the this week Group 1 of the Pennsylvania Binkers’ Asso­
foreign exchange market has shown an easy tone most ciation passed resolutions at Philadelphia opposing
o f the week, and that there has been only one free coinage and insisting on the maintenance of the
shipment of gold, has also had a favorable infl uence. gold standard. Secretary Carlisle aLo continues to do
It is worthy of note that within the last few days some good service on behalf of sound money. O i AVednesrevival of interest has been manifested abroad in day he addressed a meeting of workingmen at Chicago,
American securities, several of the arbitrage houses re­ devoting himself chiefly to showing how the working
porting a better inquiry for railroad properties than classes would suffer under a depreciation in the standard
He pointed out that the laborer has
for some time pa3t. The result of all this is of values.
seen in increased activity on our Stock Exchange and been struggling for more than a quarter of a century,
through labor organizations and otherwise, to increase
a decidedly.better tone.
As bearing upon the probable extent of the outflow his wages, while now he is asked by the advocates of
of gold this spring, we showed last week that as com­ free coinage to join them in destroying one-half the
pared with other recent years the situation was mater­ purchasing power of the money in which wages are
ially changed the present year in the fact that the paid. He well said that money received for wages, like
amount of currency afloat has been very greatly money received on every other account, is valuable only
lessened. In another particular, also, the aspect of to the extent that it can be exchanged for commodities.
things is different. We refer to the fact that the trade The most instructive part of the address was that
movement is decidedly more favorable to the United in which he showed that it is the universal
States than it was a year ago. This is well illustrated rule that wages do not increase in proportion to the
by the statement of the country’s foreign commerce for depreciation in the value of the money in which they
the month of March, issued this week by the Bureau of are paid, or in proportion to the increase in the prices
Statistics at Washington. We give a summary of the of the commodities the laborer is compelled to pur­
figures further below at the end of our foreign ex­ chase. He illustrated the truth of this statement by
change market, but may note here that it shows at references to the fluctuations in pricss and wages dur­
once an increase in merchandise exports and a decrease ing the period of the Civil AVar, when the country was
The force of the illus­
in merchandise imports. The exports were 10 million on a paper-money basis.
dollars in excess of those for March 1895, the total tration in this case, as he noted, is augmented
being $75,527,954 this year against $65,161,847 last by the fact that during the period referred to several
year, while the imports were 3 million dollars smaller, hundred thousand laborers had been withdrawn from
being only $66,383,938, against $69,295,493. As a re­ the field of competition, while at the same time the
sult we have this year a favorable balance on the mer­ Government, being engaged in the prosecution of
chandise movement in the sum of $9,144,016, as great war, was expending money lavishly for all kinds
against an adverse balance in March 1895 of $4,133,- of supplies for the army and navy, and the prices of
646—a total difference in favor of 1896 of $13,277,662. all the products of labor had largely increased. There
Nor is the March statement exceptional in this can be no doubt that the work people have more to
respect. In February the merchandise exports had lose from a drop to a silver ba3i3 than any other class
shown an increase of nearly 22 million dollars and in of the populatioo, an! M\ Carlisle’s eff-ctive argu­
January the increase was over 5J million dollars. ment should prove very serviceable in enlisting the
Taking the three months together, exports in 1896 laboring man in the cause of souad money .
have been $240,088,000, against only $202,374,000 in
The Great Northern Railway Company has issued a
1895, an increase of 37| million dollars. The imports, statement of its income from operations during the
according to the preliminary returns, recorded a de­ first half of its current fiscal year— that is, for the six
crease in January as well as in March, but revised months ending December 31 1895. The results are
returns have changed this to an increase, leaving a de­ strikingly favorable and show that the company is
crease only for March. For the quarter the aggregate participating to the full extent iu the improvement in
imports in 1896 apparently were $197,516,000, against conditions which has marked the course of affairs in
$195,159,000 in 1895. Deducting the imports from the that part of the country during the last eight or nine
exports, we find that the favorable balance on the months. Without including at all the income from in •
merchandise movement the present year has been vestments, there is a surplus of $2,084,609 over and
$42,572,000, against only $7,215,000 in the same three above all charges for the six months and also above the
months of last year.
half year's dividend of 24 per cent on Great Northern
An important feature of the situation is the ability stock. It is true these six months constitute the best
o f foreign bankers to loan money in our market at part of the year, but we have only to compare with the
what they regard as satisfactory rates on stock collat­ corresponding six months of the preceding year to see

A pkel 18, 1896.

70S

THE CHRCXNHJHE

The Bank o f England minimum rate of discount re­
what a great improvement in results has occurred. In
mains
unchanged at 2 per cent, The cable reports
these six months of 1894 the surplus above dividends
{figured in the same way) was only #1,137,963. Gr ss discounts of sixty to ninety-day bank bills in London
earnings in the half-year o f 1895 were #11,639,327, 9-16 of 1 per cent. The open market rate at Paris is
against only #9,887,84L in 1S94 and net earnings I f and at Berlin and Frankfort it is 2Jj- per cent.
#5,963,351 against #4,,875,096. Since the 1st of J an ­ According toon r special cable from London the Bank
uary there has been further improvement, the monthly of England gained £565,684 bullion during the week
returns o f estimated gross earnings indicating an in­ and held at the close of the week £47,443,840. Our
correspondent further advises us that the gain was dne
crease for the three moaths to March 31 of #738,743.
The call loan branch of the money market ha3 been to the import of £251,000 (o f which £245,000 was
wed supplied this w eek ; the offerings of time money- bought in the open market and £6,000 came from the
have been liberal not only from domestic but from 1Continent), and to the receipt of £315,000 from the
foreign lenders, resulting in fractionally lower rates, |interior of Great Britain.
The foreign exchange market has been dull and gen­
and the demand for commercial paper ha3 grown
broader, and con sequen t/ rates are easier. Bankers i erally steady this week. There were some bills against
report a comparatively large business in choice i the shipment of gold by Heidelbach, Ickelheimer 8s
names,
and there has been some re-discount­ Go. early in the week, but these were promptlying for Eistern hanks who are carrying mill paper. absorbed, as also were a few loan bills, and then the
Double-name bills receivable, which last week were demand grew light and offerings of com m erce! bills
quoted at 54<§S per cent, are now down to 5 @ 54 and! seemed sufficient to supply the inquiry. One im port­
four months’ commission house names are 5£@ 5i ant feature has been some buying of railroad mortgages'
against f| @ 6 per cent last week. The offerings are for European account, and backers report that the in­
not pressing, but now that borrowers can sell their paper terest in American securities appears to be reviving
at leas than 0 per cent, including a commission, instead abroad. It is suggested that the intiueuce of prominent
o f having itdiaeounted at 6 percent at their bank, there bankers now in Europe is being exerted to this end.
will probably be an increase in the volume of paper.
The market opened dull and steady on.Monday and the
Tne fifth instalment on the new 4 per cent bonds only change made in nominal rates was a reduction o f
fell due on Wednesday, and there now remains to be half a cent in both long and short by Lazard Freres ;
paid as the New York Sab-Treasury #1,945,550 on ac­ rates for actual business were unchanged, compared
count of principil and 1237,987 on account of with Friday o f last week, at 4 8 7 i@ 4 88 for long,
premium o f the bonds sold. There have this week 4
89 for short and 4 89@4 89,[ for cable trans­
been voluntary transfers from the specially designated fers. The announcement was made that lleidelbacb,
depositary banks to the Sub-Treasury of #2,553,- 1Ickelheimer & Go. would ship $7G0_000 gold to Ger­
931 63, leaving $13,596,$50 08 still held by them. The I many on the following day, it having been ordered
amount of gold reportei as having been withdrawn |probably for the account of Russia, and that the metal
from the S ib-Treasury on Friday of last week was <would be taken from the Sub-Treasury. On Tuesday
$234,000, while the snm actually taken was $281,026. the market was easier, iolluenced by the offering
shipment,
and also
The payments for bonds at the Sub-Treasury, the of gold bills againBt this
by a lighter demand, and Brown Bros.,
the
withdrawals of gold, etc., are shown in the following.
PmfmmU,
WiihttffiVtixlX.,
W et
Bank of British North
America
and
IleidelFeb. 3 lo April 9.
VJ |
K, ’ ' * '
90.203 2 «
**30,* 10*72 f tmeh, Ickelheimer & Go. reduced rates half a cent for
** i i ™ .........
273.4MJ
•396.AU1-SO I
" 1 3 ...............
both long and short and rates for actual business fell
005,0*3
'l l . W l - S I
3SH.799-M
I2i»l ,SH9
llU .7 7 i.-l)
■‘1 1 1 .............
: « « «
*l2H,27V7-t off to 4 87*@ 4 87 i for sixty days; 4 88|@4 8 8 f for
- ; is
" 16......... .
<*00,3 3 8 *0
sight and 4 88J@4 89 for cable transfers. On the fo l­
"1 I t . . , . ........
i f f 310
T otal.............. ....•M13.US.h9.V31
# U ,8 8 7 ,S 3 l
*19.790,961-31 lowing day the market was firmer in consequence of a
’ ' Lam.
better demand and a small supply of bills, those against
Money on call, representing bankers’ balances, has I the gold shipment having been absorbed, and Brown
loaned this week at 2.4 and at 3 ) p ercen t, averaging Bros, advanced their rates half a cent; but Baring,
about .3, and the rate at banks and trust companies is Magoun & Go. reduced theirs to the same figures.
3@3|.
T h e supply on the Stock Exchange is Hates for actual business were moved upward one quar­
abundant, much of it com ing from lenders who ter of a cent to 4 87J@ 4 88 for long, 4 88|@4 89 for
cannot place their fanda for fixed periods.
The short and 4 89@ 4 891 for cable transfers. There was
offerings of time money are liberal from almost every no change either in posted or in actual rates on Thurs­
quarter, foreign as well as domestic, and rates are 4 day and the market was quoted dull and steady at the
per cent for thirty to ninety days and 4 4 for close. Yesterday the Canadian Bank of Commerce
four
to six months on good .Stock Excnange marked up its -ight rate half a cent, but on the other
collateral.
The feature o f the week has been hand the rate fo r actual business both in sight and
a redaction in rates for commercial paper to th e ! cable transfers was reduced a quarter of a cent.
tiAfVT POSTED HATm FOR POBStO* BXOflAJfpE.
lowest figures ruling since the third week in
Fm .
Mo n .. W m , .
March. This is dne, as stated above, to a broadening
W e d .,
Fit?..
4j*nl 16. A jtrU l8» A p r fil 4. A p ril 15.
April 17.
demand and also to the offerings o f choice name?,
r
«
:(tAfa
m
u
m
mu
Bretti B im ,;,. ‘ f iiuhk*..
SB
mu
SB
which haa led to competition among buyers. Unrxna,
|m iUjn
m
m
m
mu
Mmmm h Oa, tftUthU.
m
m
m
mu
s g
£ 8
There has been some re-discounting this week of mill Blink
BrtUtib
m
89
mu
Nd. America. *{ £ &
m
80
mu
s a
SB
sss
and other paper for Eistern banks, and the business in
Bank of
|m days
mu
mu
mu
mu
Montreal.
f Sight.,
almost all kinds o f paper has been good. Rates are
mu
mu
mu
mu
m
I Sd
Canadian Bank t <g» days
mu
SHH
mu
mu
mu
5
P®r sent for sixty to ninety day endorsed bills of Commerce... I Bight.,.
mu
mu
mu
sm
! Hit
Olil/
89
lIsklelbftGli. Ick-•|80 tlaya
m
n~79
m u I
eihttater & o*. \Sight...
receivable, o | @ a f for four months’ commission house,
SO
00
mu
mu
m ,
J 80 days
* > for prims and 8<3}64 for good four to six months’ Lamm! Frerea...
ft
SB
m
m
m
Merchants* Bk, I do days
mu 1
single names.
of Canada™.... 1SUrht*..
m

.......

SQ

H

a

s s

mu

:

m

THE CHRONICLE.

704

[VOL. L X II

With the Sub-Treasury operations and gold exports
The market closed dull and steady on Friday at
4 88j for silty day and 4 89i@ 4 90 for sight. Rates the result is as follows.
for actual business were 4 87f@ 4 88 for long, 4 88^@
Out o f
N et Change in
In to
W eek Ending A p ril 17,1800.
4 88| for short and 4 88f@ 4 89 for cable transfers.
Ranks.
Bank Holdings.
Banks.
Prime commercial bills were 4 874@4 87£ and docu­ Banks’ interior movement,as above 15.138.000 $2,941,000 G ain.$2,197,000
500,000
Sub-Treas. oper.and gold exports .. 18.300.000 18,800,000 Loss.
mentary 4 8G^@4 87. Mr. Worthington 0. Ford, the
Total gold and legal tenders____ *23,438,000 *21.741.000 O a la + 1 ,697 ,00 0
Chief of the Bureau of Statistics at Washington, this
The following table iadic ites the amount of bullion
week issued the March statement of the country’s for­
in
the principal European banks this week and at the
eign trade, and we give the figures below in our visual
corresponding
date last year.
form.
F o r e ig n T r a d e M o v e m e n t o f t h e U n i t e d S t a t e s .
In the following tables three olphers (000) are lu all cases omitted.
1 8 9 4 -9 5 .
1 8 9 5 -9 6 .E xca 8
Exports.
Im ports.
Excess.
Exports.
Im ports.
1
M e r c b 't lis e .
f
t
»
f
I
17 1.052 •JO9.407 - 3 S .8 4 5
1 0 7.647
+ 4 .5 4 2
171 ,1 8 0
July-Sept..
•11S,484 1 7 1,723 + 7 5 .7 6 1
Oct.-Dee... . Jti<>.933 J 00.606 -r-66,267
81.230
OS,653 + 1S.25C
07,548 + 13.682
January....
Sti,9 *9
7 7.651
61,479 + 1 5 ,1 7 2
-•1,334
58.316
February..
53,982
09.295
— 4,133
7 3.52S
00,384
+ 9.144
M arch.......
65.162
T o ta i. . .
G o ld .
July-Sept..
Oet.-Dec...
January....
February.
March.......

67.N.083

T o ta l.. . .
3 e * llv © r .
July-Sept..
Oct.-Dee...
January....
February..
March ___
Total.......

0 0 7 .5 8 9

Oold.

| Silver.

|

Total.

a a.

Silver.

Total.

£
£
£
|
£
|
£
1
£
! 47.44‘.849, 30,755 031
England ....... 47.443.840
80 755,033
France............ 77,904.2-*9 49,713,112 127.817,401 82.761 000 19,311.00 >132.075,000
Germany *.... 29,030.166 11,515,584 13,515,750 36.210,485 15,003.515 5L 850.000
Aust.-H ung’y 20,270.000 12,751.000 39,021. Jo 17,823. OOP 13,615.000 81,408 900
8,004,000 10.383,000 18.381 '00 8,004.00< 12,380,000 20.331.000
Spain..............
1,2/7, >00 7,028/JOo 11,390,000
2,623.001)1 6,937.00*)| 9,id0./0o
Netherlands.
3,200,000 1,033,000
4,899,000
2,014,667! 1,307,383 3,922.000
Nat. Belgium*

+ 7 0 .4 9 4

0 1 3 .0 4 7

37.959
31.415
10.568
•J.184
384

*1.8:5 + 3 5 .1 0 4
3.699 + 1 7 .7 1 6
10.368
+1»8
1 1 .5 >9
- 9 .3 7 5
678
-2 9 4

19.586
1 1,313
15.930
1,566
3,126

S'J.508

*19.159

+ 5 3 .8 1 9

01,521

13,272

14,768
1 -5.188
4.903
5.362
.3,015

3,699
3.275
1,057
1.351

+ 11.069
+ 1 1,893
+ 3.8 46
+ 3 .9 5 0
+ 3.6 61

11,621
11.709
3.755
3,073
3,790

1.761
•3,479
662
396
548

* The division (between gold and silver) given in our table o f coin
and bullion in the Bank o f Germany and the Bank o f Belgium is made
from the best estimate we are able to obtaiu; in neither case is it
+ 3 8 ,2 4 9
claimed to be accurate, as those banks make no distinction in their
+8.860 weekly returns, m erely reporting the total gold and silver, but w e
+ 9 .2 3 0 beti6v© the division we make is a close approxim ation.
N ote .—We receive the foregoing results weekly by cable, and while
+ 3 ,0 9 3
+ 1.6 77 not all o f the date given at the head of the colum n, they are the re­
+ 3 .2 4 2 turns Issued nearest to that date -th a t is, the latest reported figures.

45.216

1 0.797

+ 3 4 ,4 1 9

33,948

6.846

+ 1 7 .1 0 2

uly-3ept..
Oct.-Doc ..
January. ..
February..
March.......

v8
37
5
7
18

475
552
179
ICO
79

-4 6 7
—515
—174
—93
-6 1

15
5
275
9

231
176
63
75
115

—216
—171
+207
—75
—106

Total. . ..

75

1^ 85

- 1 .3 1 0

304

666

-3 0 1

uly-Sept..
O ct.-D e c...
January....
February..
Maren.......

64
277
86
88
68

3,050
3,959
1.434
1,362
1,258

—‘1 ,986
—3,682
— 1,318
— 1,324
- 1 ,1 9 0

30
2

1,452
1,129
975
701

—1,422
—1,127
—9 /5
—701

Total.......

633

11,063

-1 0 .5 3 0

32

1.112

5 3 5 ,6 2 9

A pril 18 1895.

A p i l 16,1890.

B ank o f

5.245
3.917
1.231
3.633
7.216

+ 8 7 .5 4 8
+ 14.341
+ 7 ,8 9 6
+•14,699
- 4 ,0 6 7
- 4 ,1 2 0

Tot»thls week 193,8-0,962 95.631,029 289.623.091 13 ',132,518 99.59 <,515 238,731.033
To t.orev .w ’k l193,S82,691 95,688,511 281,071,215 18S.4 0.598 99,783.818 289.184.356

Gold in Ore.

Silver iu Ore.

■+■ Excess of exports

1.200

-1,200

7,457

—7,425

— Excess of Imports.

We give on another page our review of the gross a id
net earuiDgs of Uuited States railroads for tin month
of February, and it makes a very favorable compari­
son with last year. Tne following shows the earuings
for four years of a numb )r of roads which have tuis
week made reports for either March or February.
18C0.
$
123,940
Wet
27,854
401,943
Nash. Chat. A St. Lou is...,
Net
125.652
1,209.2-9
Pitts. Cin. Chic. A St. L —
120,014
Net
19,721
8an Fran. A No. Pac..........
Net
4,414
82.207
Toledo Peoria A Western. . .Gross
20.696
Net
Name o f R oad—
Georgia ........... .....................

Name of Rood—
Flint A Pere Marquette. . ..Gross
Net
Grand Trunk.......................
Net
Lake Erie A Western .......
Net
Louis. N. Alb. A Cblc........ ..Gross
Net
Memphis A Charleston.......
Net
Mexican National...............
Net
Ohio R iv er.............................
Net
Oregon Improvement Co.. . Gross
Net
Philadelphia A E rie...........
Net
Pittsburg A Western . . . . . .
Net
San. Ant. A Arans. Pass .. .Gross
Net

1896.
t
222,839
53,515
1,178.433
162,907
261.811
109,700
219,991
43,126
113,900
2t,56d
388,17*
171,168
69.559
21,407
220,900
4,257
2 16 .6 8 f
28.045
164.952
30.154
127.520
28,842

-------March Earnings. —
1895.
1894.
%
%
121,119
121,293
20,141
28,050
4-8,320
394.672
163.350
158,192
1,175,225
1.288.709
87.857
307,520
57,604
55,739
11,9-58
12,124
77.853
73,709
17.854
10,646
-----F ebruary Earnings
1895.
1894.
$
$
108.001
208,812
31,093
69,429
1,099,458
1,170,831
148,071
138,275
26 .612
237,047
118,419
106,820
201.057
3 74,908
33,6’6
27,500
76,472
95,953
def.5,052
326,468
320,672
132,575
121,761
46,774
43,496
10,689
15,214
2 <5,073
261,424
10,723
35,149
231,791
239,610
29,992
0O,2o4
162,599
128.458
40.392
30,252
128,680
94,4 S
20,012
def.1.549

1893.
*
130,040
31,007
438.H5
164,174
1,405,8"O
275,067
61.483
2,654
82.525
22,975
1893.
1
203,125
17,897
1,278,743
171,071
289,204
123,25 7
225.912
49,644
137,586
833,602
110,060
60,994
14 024
248,215
24,469
322,673
67,547
162,162
16.9:0
122,032
9.776

Tne following statement gives the week’s movements
of money to and from the interior by the N Y. banks.
W eek Ending April 17,1896.

Received by Shipped by
N. F. Banks. N . Y . Banks.

N et Interior
M ovement.

< ? o ld ....i.....................................................

$4,050,000
482,000

$2,029,000 Gain.$2,027 ,0 0 0
312,000 Gain.
170,000

Total gold and legal tenders.....

$5,138,000

$2,941,000 G ain.$2,197.000

P E N N S Y L V A N IA R A IL R O A D ’S SEM I- C E N
1 E N N IA L — THOMSON, SOO lT, R O B E R TS.
O j Monday of this week occurred the fif cieth anni­
versary of the incorporation of the Pennsylvania Rail­
road, and the event was celebrated in Pniladelphia in
a befitting manner. Judging from the account of the
proceedings in the Pniladelphia papers, the occasion must
have been as interesting as it was rare. At the cele­
bration at the Academy of Music in Philadelphia
(where the principal ceremonies of tne day took place)
President Roberts delivered a notable address, and
speeches were also made by Governor Histings of Penn­
sylvania, Mayor Warwick of Pniladelphia aod City
Attorney Burleigh ( i i the absence of Mayor Ford) of
Pittsburg. Mr. Joseph H. Choate made some remarks
on behalf of this city in his usual witty and eloquent
way.
At the ex'rcises great prominence was very natur­
ally given to the part played by the Pennsylvania R ail road in b u llin g up Pniladelphia and the S ate of
Pennsylvania. We venture to say, however, that the
feeling of pride which the people of Pennsylvania
take in the undertaking is shared by the people of the
whole country. Wnile it would be difficult to conceive
of Pniladelphia and the Kiystoue Siate without the
Pennsylvania R lilroad, it is equally diffi ;ult to think
of the 1 oited States and its great net-work of roads
without that important system. Nor would any one
contend that the enterprise (waich ia maiy respects
stands without a peer in the world) has been instru­
mental only in developing the grovth and resources
of I’ennsylvania. It has certainly done more for the
manufacturing development of that S ate than all
other railroads and all other agencies combined. But
its influence iu that way has not been limited to the
confines of this oue State. All the aijoiniug States
have b.nefittel in the same way, if not in the same
degree. More particularly the States traversed by its
Western system of road — Ohio, Indiana, Illinois and
Michigan— owe much to the Pennsylvania Rvilroad.
Consider for instance what the transportation facilities
of the system have done for points like Chicago, St.

A pril 18. 1898.J

THE CHRONICLE.

Louis, Cincinnati, Toledo, &o. Even New Y ork City
has not boon without advantages from the system, for
though the Pennsylvania Railroad has been a Pennsyl­
vania enterprise and has ever fostered ths interests o f
tbe Keystone State, the system has at the same time
been an important tributary to New Y ork — no less se
than our own systems, one at least of waich is hardly
inferior to the Pennsylvania Railroad itself.
There is another point of view from which thePennsylvania Railroad mast be considered to have e x ­
ercised a very patent influence. It has always stood as
a type of tne highest class of road3 in the country; and
in all departments of the service the effort has con­
stantly been to maintain this high standard. The
physical condition of the property, as every one knows,
has long been the admiration of the whole railroad
world— so much so that it is the ultimate aim of rail
road managers everywhere in the United States to
bring their lines up to the same degree of excellence
and perfection. The company is also distinguished
for the frank and open methods pursued in the admi 1istration of the property— methods that havd com ­
manded the approval
of
both
investors
and
the
public. Daring
the
past
few
years,
as is well known,
a good
many
prominent
railroad
properties
have
been forced
to the
wall, and some of the developments in connection with
those events have not been altogether pleasant. A ) a
result, co.ifilence bath here and abroad ia Am erican
railroad investments has been deeply disturbed. It is
& striking fact that this distrast has never extended to
the Pennsylvania Riilrtaad, which has retained to the
full the confidence of the investing pablic. The ex
planation is found in the character and math ids of the
management, added to ths strength of the system resnl.iug largely from these causes. It is pleasing to
think, too, when one hears such severe criticisms
passed upon American railroad management— ja fo r ta nateiy ai it happens only too well merited in m ioy
cases— that we have the Pennsylvania to point to as an
example of the opposite kind; representing not merely
an isolated instance, either, but a type of a numerous
class of which the Pennsylvania happens to be a very
conspicuous and well knnwn illustration. T neadvan
tuges attending such a policy are cq lally clear
and obvions. One of the benefits was s,-en las. sum
mer in the floating by the company at par of a sterling
mortgage bond bearing only 3 } per cent interest.
The great magnitude of the system and its opera­
tions and the woudsrful progress made during the fifty
years of the c un piny's existence— a progress typical of
the nation’s progress in the same interval, to which
the Pennsylvania has so largely contributed— furnished
o f course one o f the main themes at the celeb atiou.
Bearing on this point, a few facts from
President Roberts’s address are well worth repeating.
'I he company owns or controls 256 corporations, repre­
sented by 135 distinct companies, a id operates alto
gather anoat 9,000 miles of road. The aggregite cap
itai of these corporations is 831 m illim dillars, aud
while in 1852 the system carried bat 70,003 tins
of freight (much less than it moves now in a day) in
1895 tne aggregate tonnage amiunted to over 160
million tons, and at the same time it carried over
75 m.liion passengers. The gross revenues of the
-corporations in the system in
1895 amounted
to 133 million
dollars.
Ia 1852 the company
owned only 50 locomotives and net over 1,000
cars. New it controls 3,400 lociraotivea and 141,000

705

cars, ao equipment wnicn would give a solid train
of cars extending from New Y ork to beyond Cnicago.
1 1 1852 the company's pay rolls am ouite 1 to less than
£400,000, in 1895 they reached the sum of £36,000,000,
an average of about £100,000 a day. Its aggregate
disbursements in the same year were about £93,000,000, not including payments for rentals, iaterest, d iv i­
dends or outlays on capital account. The number
of employees was about 97,000.
The extent of th ecim p au y’ s operations enphasizes
of course all the more the creditable way in which it
has been managed and the success attending the policy
pursued. Mr. Roberts makes no mention of his
part and
that
of his able lieutenants, vicepresidents Frank Thomson and John P. Green,
(the
latter
having
charge
of
the
financial
departments), ia the oompany’s prosperity. But in our
estimation the position of strength which the company
holds to day is eatirely to be ascribed to the skilful
management of the property since Mr. Roberts was
made President of the com pany. The corporation has
been fortunate from the very first ia its executive
heads. Of course the names of J. Edgar Thomson
and Tnom is »A. Scott will be forever assiciated with
the Pennsylvania R iilroad. They created the system,
just as Commodore Vanderbilt created the New Y ork
Central and John W. Garrett formed the Baltimore &
Ohio. Bat a totally different order of talent was re­
quired ia those early days, during the formative period,
from that called for by the conditions which subse­
quently developed.
It should not be forgotten that there was a time,
some eignteen or twenty years ago, when tbe Pennsyl­
vania reached what must be termed a very critical
period in its career. We refer to the period succeed­
ing tbe panic of 1873, when the country for several
years experienced severe industrial depression. The
Pennsylvania had been pursuing a very active policy
of aggression and expansion, had as the result of such
policy assumed very extensive new burdens, and at the
same time business conditions were unfavorable, be­
sides which in 1877 the great riots at Pittsburg o c­
curred, and altogether the outlook for the property
did not appear very roseate. The company had been
paying 10 per cent dividends, but in 1878 the amount
got down to only two per cent. It will be remembered,
too, that the doubts and misgivings which had arisen
during this period found expression somewhat earlier
(in 1874) in the appointment of an Investigating C om ­
mittee to examine into the condition o f the various
properties owned and controllid, and the report of
that committee remains famous to the present day.
Daring this critical period Thom is A. Scott re­
mained at the helm. T o Scott end J. Edgar Thom ­
son the Pennsylvania Railroad, as already said, owes
its existence. As pointed out on a previous occasion,
the two men were admirably adapted to supplement
each other’s gifts, Tbomson being efficient in devising
projects and laying out plans, while Scott was excellent
as an organizer and in executing schemes, and had
large executive ability. Of the two men Scott was
decidedly the m ire aggressive, and no doubt on many
occasions the consotvative disposition of Thomson
acted as a check on him. Bat wnil i Scott and Tnom son are to be credited with the creatioa of the system,
the greatness *nd strength of the company to d iy , in our
estimation, as already said, is largely to be ascribed to
the policy puriued by Presile.it It inerts during the
period aioce he has been tne executive head of tho

706

THE CHRONICLE.

enterprise— a period of about sixteen years, in some
respects the most remarkable in the country's railroad
history. Scott was obliged to retire in 1880 on account
of ill health and died in 1881.
Mr. Roberts was
elected to the Presidency of the company in the firstmentioned year.
Thus Mr. Roberts succeeded to control at the time
when business was again reviving, but also at a time
when as a result of such revival railroad expansion and
railroad consolidation was going on all over the coun­
try in a way and at a rate never before equaled. The
big railroad systems west of the Lakes and the Missis­
sippi are nearly all the creation of that period ; before
that time they were comparatively small concerns.
Mr. Roberts did not enter into the spirit of conquest
which marked those days. But had Scott lived and
remained in control, who can tell what the result
would have been ? Knowing Scott’s venturesome and
aggressive disposition, who will dare say that with
consolidation going on all around him and with the
restraining hand of Thomson absent Scott would not
have taken part in the general movement and extended
the domain of the Pennsylvania further and further?
■—possibly to the Pacific Coast ? Knowing, too,
the fate that has befallen nearly all the Pacific
roads in recent years, who will venture to assert
that had this course been pursued the Pennsylvania
would to-day be in its present prosperous condition ?
As it was, the Pennsylvania had completed its active
policy of expansion at the time when the general policy
of expansion began.
What Mr. Roberts's plans and methods have been is
well known. He recognized that the Pennsylvania
system had been well-conceived and that what it
needed particularly to ensure its continued success
and prosperity was the development of the traffic of
the lines already in the system rather than the addi­
tion of new lines and also the development of the
immense amount of business naturally tributary to the
system from points beyond the termini of the same.
He did not think it necessary to move these termini
out further or to cross the Mississippi River. He acted
strictly in accordance with the recommendations of the
Investigating Committee, that there be no ex­
tension of the “ bounds of the system. Never­
theless it must not be supposed that the system was al­
lowed torftand still. A great deal of new mileage has
been added during the last sixteen years, but the ad­
ditions have been in the nature of branches and feed­
ers in the territory already controlled and not in ap­
propriation of new terrritory.
Moreover, the acquisi­
tions have been made in accordance with a well-defined
purpose not to add to the burdens of the company
through the addition of unprofitable lines or onerous
leases. When one considers how enormously the bur­
dens of many other companies have been increased, it
is really surprising to find how fortunately the Penn­
sylvania has been managed in this respect.
A t the same time the management had very trying
conditions to meet. The wonderful business prosperity
which followed the resumption of gold payments in
1879 led to the construction of a great deal of un­
necessary new mileage in all parts of the United States
and to excessive and demoralizing rivalry for traffic,
under which rates dropped lower and lower with each
succeeding year. On the Pennsylvania lines east of
Pittsburg and Erie the average freight rate per ton
per mile in 1880, when Mr. Roberts took hold, was
9T8 mills,' and this was at that time considered a very

[VOL L X II.

low average, there having previously been only three
other years when the company had realized less than a
cent per ton per mile. As against 9T8 mills in 1880,
the average in 1895 was only 5*63 mills. The profit
per ton per mile in 1880 was 3 ’78 mills, in 1895 it was
but 1 *G6 mills— that is in the latter year the company
had to carry over 2£ tons of freight to earn
the same amount of money net that it earned
fifteen years before on one ton. But while rates had
thus been enormously reduced, the company wae
obliged to earn a return on a very much larger amount
of capital. As is known, not a little money has been
spent on the property directly out of earnings, in pur­
suance of the management’s policy to devote each
year a considerable amount in that way. But in addi­
tion very large outlays have had to be made on capital
account— for new tracks, sidings, equipment, &c., and
to pay for the new branches and feeders built and ac­
quired. As one evidence of the increase which has
occurred we may note that at the end of 1879 the
Pennsylvania stock aggregated only $68,870,200, while
at the end of 1895 it stood at $129,301,550—that is,
the company now has to earn dividends on 60 million
dollars more stock than at the beginning o f
1880.
In order to indicate how successful Mr. Roberts has
been in meeting the two-fold problem occasioned by
the increase in capital and the decrease in rates, it is
only necessary to point to the fact that in the year
1894 when gross earnings of the entire Pennsylvania
system, east and west of Pittsburg and Erie, fell off noless than 164- million dollars as compared with the year
preceding, the company earned and paid five per cent
cn its stock, calling for nearly
million dollars cash.
How some of its weaker rivals fared in the same strug­
gle is evident from the fact that the Erie, its mo3t im­
mediate competitor on the north, has just had to un­
dergo foreclosure and reorganization after a long period
of receivership, while the Baltimore & Ohio, its most
immediate competitor on the south, has now also lapsed
into the possession of receivers and the Courts. If,
therefore, Scott and Thomson deserve credit for
having conceived and created the Pennsylvania system,.
Mr. Roberts and his able vice-presidents deserve equal
credit for having maintained and preserved and forti­
fied it through times and under conditions which have
put railroad properties in this country to the severestand most trying tests.

THE N E W ATC H ISO N MORTGAGES.
On subsequent pages (pages 731 to 742) we furnish
very complete abstracts of the new Atchison mortgages,
the bonds under which are now being issued. The
new mortgages are by no means mere formal docu­
ments. They are full of interest alike to the holder
of the company’s securities and to the investor who
desires to keep in touch with the latest and best
methods of protecting the bondholder while yet
allowing due freedom of action to the railroad com­
pany. In so far as these mortgages resemble previous
deeds of trust, they show clearly the effort that has
been made to render the various provisions increasingly
clear and effective. In not a few of their provisions,
however, they are altogether original, as for instance
in the articles relating to the payment of interest on
the Adjustment (income) bonds. These seek to protect
the income-bond holder from the possibility of losing
the interest on his bonds in consequence of the making.

A p r il 18, 1898.]

THE CHRONICLE.

by the railroad company of unprofitable leases and
traffic and trackage agreements.
In the General Mortgage the matters of widest inter­
est are the provisions governing the issuing and retire­
ment o f the Prior Lien bonds and the reservation of
$.30,000,000 General Mortgage bonds for the acquire­
ment, if deemed feasible and best, of the Atlantic &
Pacific, S:. Louis & S a i Francisco and Colorado Mid­
land, or the construction of a line to free the Atchison
from the necessity of using the Atlantic & Pacific and
Southern Pacific line3 as an outlet to California.
Tne right to issue $17,000,000 Prior Lien bonds is
provided as a precautionary expedient, in order to ena­
ble the retirement, under all conditions of the money
market, at or before maturity of $13,000,000 o f equip­
ment bonds and car trusts, and to the extent of $5,000,OOO out of the $17,000,000 to make improvements
on the system—but for improvements they can be issued
only so far as General Mortgage bonds reserved for the
same pnrposes cannot bo sold at 80 to do the work.
And if Prior L :« a bonds for any amount whatever are
issued, General Mortgage bonds at the rate of $1,350 par
value for each $1,000 of Prior Lien bonds sold mn3t be
reserved for the sole purpose of redeeming the Prior
Lien bonds at the earliest practicable moment. That
is to say, the company covenants to sell the General
Mortgage 4s reserve! agiiust the Prior Lien bonds
whenever it shall receive a bid for $100,000 o f them at
80 or better, and to apply the proceeds to payiugoff the
other issue under the right, which is reserved, to call
the same for redemption at 103 and interest. The
effect of this, it will be seen, is to secure economically
the payment o f the equipment bonds and car trusts
and the making of necessary improvements, and at the
same time to ensure the cancellation of the Prior
Lien bonds, should any be issued. A t present the Gen­
eral Mortgage b oid s are quoted s b iu ; 80. so that it is
a question whether any o f the Prior Lien issue will
ever be sold. As a matter o f fact, we learn officially
that no Prior Lien bonds will now be put out, and that
the possibility of their being issued in the future is so
remote as to be hardly worth considering. W e should
add that the $ 5 /0 0 ,0 0 0 for improvements cannot be
issued after 1900Evidently, we have here a new form o f prior
lien bond, a bond that may temporarily be o f great
importance to the rati read company, and yet that can­
not in any likelihood com i to stay— sn other words, a
prior lien that in the long run is likely to be beneficial
rather than detrimental to the interests of the General
Mortgage bondholders.
Th e Norfolk & Western,
under its p im o f reorganisation, will be similarly forti­
fied against the risks of the moner market by the right
to make use o f Prior Lien bonds if necessary.
General Mortgage bonds for $30,000,000 are reserved
by the indenture for the acquisition of the St. Louis
& San Francisco, Atfantic & Pacific and Colorado Mid­
land, or to construct lines which would aggregate 800
miles in leogth, for the purpose of connecting the east­
ern arid western divisions o f the Atchison and doing
away with the necessity of naing, as heretofore, either
or b >th the Atlantic A Pacific between Albuquerque
and the Big Colorado River (564 miles) and the line
leased from the Southern Pacific between the Big Colo­
rs lo River and Mojave, Oal., 243 miles. Not exceed­
in g $3,000,000 of the *30,000,000 may also be used
for the construction or acquisition of branches, second
track, &c., for any of the above-mentioned roads,
( rior to lab . 1, 1897, h ow s-er, the right to use the

707

$20,000,000 for the purposes indicated is dependent
upon the company’s first obtaining authority in writ­
ing from a majority of its board of directors and from
two-thirds the Joint Executive Reorganization Com­
mittee. A fter Feb. 1, 1897, this right may be obtained
by a resolution of a majority of the preferred stock
and o f all the common stock represented at the meet­
ing called to consider the matter. This arrangement
leaves the door open a3 the reorganzation plan intended
should ba the casa to the taking of whatever course
may be determined wisa with reference to the above
properties.
General Mortgage bonds to the amount of $30,000,000 are reserved for improvements, extensions, addi­
tional terminals, second track, &c., but only $3,000,000 thereof can ba issued in any one year, and of this
$3,000,000 the amount to be used for building branch
lines or extensions is limited to $750,000, at $15,000
par mile. Under the Adjustment Mortgage, too, after
the $30,000,000 General Mortgage bonds shall have
been used, which will be at least ten years hence, $20,000,000 Adjustment bonds at the rate of $2,000,000
yearly can. be issued for the same general purposes,
provided the holders of a majority of all th9 outstand ing Adjustment bonds consent. Tne reader will o b ­
serve in the abstracts how stringent are the conditions
relative to the issue of both these blocks of bonds. Tne
company for one thing is positively prohibited from
having in its possession more than $500,000 of the
above amounts at any one time, and to obtain addi­
tional sums must prove that the preceding issue ha3
been properly applied as in the mortgage stipulated.
Furthermore if any property is acquired subject to
existing liens, an amount of bonds equal to such liens
must be reserved out of the annual allowance for their
ultimate retirement.
In view o f some recent criticisms, it is important to
note that the company covenants most explicitly to pay
interest on the bonds up to four per cent per annum,
according as the earnings therefor shall be determined
by its Board of Directors, such interest to be cumula­
tive after June 30, 1900, The deductions that may be
made from gross earnings in ascertaining the amount
applicable to interest payments were never, we believe,
more carefully worded, and in case the bondholders are
dissatisfied holders of one-half the loan may require
the Trustee to take action for their protection, by fo re ­
closure suits or otherwise, and examine the company's
books, a proceeding which the company consents to
allow.
The most novel portion of the Adjustm ent M ort­
gage is that relating to losses under new leases and
traffic and trackage agreements. I f the Atlantic &
Pacific and other lines mentioned, or any other rail­
roads, are acquired by use of General Mortgage or A d ­
justment bonds, said lines shall be treated a3 part of
the Atchison system in determining the surplus net
earnings available to pay interest on the Adjustm ent
bonds. But if not so acquired, the loss on account o f
such lines, whether acquired and held under lease or
traffic agreement, or trackage rights, is each year to
be ascertained and is not to be charged against the
earnings prior to payment of A dj istment Mortgage
coupons, except to the extent that such loss is offset
by 25 per cent of the gross earnings on other lines in
the system derived from interchange of traffi; with
the line in question. T his, it will be seen, prevents
unprofitable guaranties, if any should hereafter be
made, from standing in the way of the Adjustment

70

'

THE CHRONICLE.

bondholders receiving a return on their investment,
providing earnings are sufficient. It may be remem­
bered that the old Atchison income bonds of 1889 per­
mitted the prior payment of all guaranteed interest
before the payment of anything on the incomes.

THE K A IS E R A N D H IS CRUISE.
Emperor William, say what men may to the con­
trary, is one of the most potent individual political
factors of the present day in Europe, and the sceptre
he wields is one of the mightiest. He is not to be fol­
lowed in the ordinary lines or measured by the ordi­
nary standards. But he is a potent force all the same.
When he speaks, he speaks with effect; and when he
acts, he acts to seme purpose. He takes a special
pleasure in surprises; but the surprises seldom fail to
produce some satisfactory result.
His latest public demonstration seems likely to prove
particularly fruitful in good results. The Emperor’s
cruise in the “ Hohenzollern” is really the feature of the
hour in Europe.
It would be absurd to imagine
that this cruise was undertaken solely for the purpose
of pleasure. That pleasu re formed part of the object
in view, coupled with a quest of health, can hardly
be doubted. But the real purpose of the cruise was
far higher than either hea 1th or pleasure. To under­
stand this, however, it is necessary to take in the en­
tire situation. We have more than once referred to
the fact that as the result of the disaster which befell the
Italians in Abyssinia there was danger that the
entire European outlook would undergo radical
change.
The stattes quo, the treaties which hold the
different nations together and prevent a general war
and a general disruption, were in peril. The attitude
of Russia became extremely doubtful. France was
clamoring more loudly than ever for the evacuation
of Egypt by the English.
If the Triple Alliance
could not be maintained an opportunity would
be
offered
both
to
Russia and
France,
and there was no saying what might happen.
The
situation was
further
complicated
by
the threatened movements of the Abyssinians
against the Italians, aud by the aggressive action of
the Dervishes more to t he north. The prompt action
of England and the friendly co-operation of Germany
gave heart to Italy and made an end of the difficulty
Peace seems to reign in Africa, Russia is silent and
France has settled down into a condition of quiet and
contentment. All the elements of the Alliance were
brought into harmony. Both Austria and Italy re
mained faithful, refusing tempting invitations to retire
from the Bund ; and while England was brought into
closer relations with the three Powers, the German
Emperor became more enthusiastically devoted to the
preservation and maintenance of those bonds which
made peace secure.
All this work was accomplished by diplomacy; and
seldom has diplomacy, on one side at least, been
conducted with greater success. Among diplomatists
the palm must be given to Lord Dufferin. On this
occasion he has revived all his old well-won reputation
— the reputation won among the Druses and the Kurds
in the Lebanon, as Ambassador to St. Petersburg, as
Ambassador to Constantinople, as Governor General
o f Canada, and as Viceroy of India, when he added
the rich Kingdom of Burrnah to Her Majesty’s domin­
ions. When France was rejoicing over what seemed
a graud diplomttie victory, and E irope had come to

fVoLi LX tli

the conclusion that England had been put in a corner,
it was immediately discovered that France had been
completely outwitted, and that she had given away the
one weapon— the one cause of resistance— which she had
against England. It gave the latter Power a freehand
justifiable reason for holding on to Egypt. Nay, more,
it m ay be said to have settled the question of permanent
occupa tion. It was a great victory. It was won by Lord
Dnfferir.
Eveiy one knows, however, that much as may be
done by diplomacy—by messages and by deputies— it
is not to be compared with what can be done by the
living voice— by individual personal contact. It is
this which in our judgment explains the Emperor’s
cruise.
He wished to repair whatever had been
shattered, and to put the Triple Alliance on a sure
foundation.
This, we think, he ha3 accomplished
beyond any reasonable doubt. It is impossible for
e ither Italy or Austria to be indifferent to the compli­
ment paid by a personal visit. Looked at from this
point of view, the Emperor's conduct stands out in a
bold light; let U3 hope that the success which has
already been secured may be enduriag in its results.

PIT TSB U R G

C IN C IN N A T I CHICAGO
LOUIS.

& S I.

Tne annual report of the Pittsburg Cincinnati Chi­
cago & St. Louis comes just at the time when the
Pennsylvania Railroad is celebrating the completion of
the first half century of its existence. The company
constitutes one of the organizations through which the
Western lines of the Pennsylvania are operated, and it
is the part with which the public here in New York is
most in touch and has the most interest, since the
shares are listed and dealt in on our New York Stock
Exchange. The road forms what is known as the
Southwest system of the Pennsylvania, and with its
Eastern termini at Pittsburg and Wheeling, extends
Cincinnati, Louisville, Chicago, St. Louis, on the West
The report is printed in our railroad departmen
on subsequent pages, and like the report of the
Pennsylvania
itself
reflects
the
improvement
in
conditions
which occurred
during
1895
after
the great depression in
1894.
It also
shows that the property is possessed of re­
cuperative powers under which its traffic and
revenues quickly respond to a change for the better in
the general industrial situation. The company had
been paying 4 per cent dividends on its preferred
shares, but after the semi annual payment in April
1804 (which came out of the earnings of 1893) divi­
dends were entirely suspended; in January the pres­
ent year they were again resumed as a result of the
improvement in earnings in 1895, 2 per cent being
paid out of that year’s income. In 1894 the gross
earnings bad dropped to *14,247,856; in 1895 ther
was a iecorery to 115,439,707, an improvement
*1,191,851. The net earnings increased *736,469
or over 21 per cent, having risen from 13,498,
358 to *4,234,827. After paying all charges o
every description, there remained a surplus on
the operations of 1895 of 81,022,897, against
a similar surplus on the operations of 1894 of
8635,492. The dividend paid in January the present
year called for 8452,716, and 8284,525 was paid in set­
tlement of decree in suit upon Keokuk & Hamilton
Bridge contract and other accounts; the balance of
8285,656 out of the 81,022,897 surplus for the year

ApaiL IS

709

THE CHRONICLE.

J

has been carried forward to m e credit of prods and
loss, swelling the latter to #714,194. The company is
obliged to more traffic at low rates, and the average
for 1895 on all the lines o f the system was precisely
the same as for 1894, namely 6*8 mills.
The cost of
movement, however (owing to the increase in traffic),
was less, and hence the average profit was 1*7 mills in
1895 against 1-3 mills in 1894.
There is a reference in the report to the action of
the company in becoming a member of the Joint
Traffic Association. The report observes that the
Association was formed for the purpose o f enforcing
substantial economies in the administration of the
transportation interests of the country and securing
stable and uniform rates to the public ; and although
at the instance of the Inter-State Commerce Commis­
sion the question of the legality of the organization is
now before the courts, it is believed that its formation
is entirely within the law, and that it will he a most
valuable instrumentality in aiding the Commission to
enforce the provisions of the Inter-State Commerce
A ct.

RAILROAD

NET EARNINGS
FEBRUARY.

FOR

As had been dearly foreshadowed by our early
tabulation of gross earnings in the issue of March 14,
the statement of gross and net earniDgs of United
States railroads for the month of February mikes an
exceedingly favorable comparison with the same month
of last year
In the gross the increase is #1,049,430
or 9*03 per cent, in the net #2,019,63.3 or 17*97 par
cent.
Bat we would caution the reader against
ganging expectations fur the immediate future on this
showing. Since February, ov iu g to bid weather and
unsatisfactory trade conditions, tbs returns have been
much less favorable, and for M irch no such note­
worthy improvement should be looked f >r as is now
disclosed in the February statement. Below is a sum
mary of the results for February.
February.
OM rm dsj
am .

189*.

«

i

January I «o Fehrtmry 29,
Um i

| fnermtt* j

|Incrmm,

7“

*
!
+ 040,130

iu me case of the individual roads or systems the e x ­
traordinary gains observed in some previous months
are lacking, and yet we have quite a number of gains
for heavy amounts Thus in the gross the St. Paul
has #378,158 increase, the Burlington & Quincy $377,807, the Pennsylvania #338,400, the CtoadLaa Pacific
#333,224, the Louisville & Nashville $251,630, the Illi­
nois Central $235,056, the Southern Railway #233,010,
the N orfolk & Western #208,060, the Southern Pacific
$186,473, the Erie #151,864, the Central of Georgia
#143,377, the Atchison #140,249, the Chesapeake &
Ohio #134,561, &e., &c.,— nearly all classes o f roads
being represented in the list. In the net wa have the
Burlington & Quincy with $235,437 increase, the
Atchison with $238,435 i icrease, the Southern Pacific
with $214,700, the Norfolk & Western #160,163, the
St. Paul $144,108, the Oaion Pacific #132,109, the
Canadian Pacific #127,111, the Louisville & Nashville
#121,967, &*. A3 to the roads that have fallen behind,
about the only conspicuous instance is tin R ia iin g ,
which reports $565,422 loss iu gross and $177,617 lo3s
in net, the results of the Coal & Iron Company boing
included in these figures.
r a r s c i r i i . ^ h i s s e s i s C R O S S e a r s in o s n t F E B R U A R Y
I iic r e a » e » .

U c r c t« e i,
Ohio. Mil. A St. Paul___ $378,158
Chic. Burl. A Quiney ..
377.807
Pennsylvania (3 rMslI.
33 s,400
Oanitdiaa Pacific .........
333,324
Louisville A t r u b v ille .
25 *>.t>:so
lilt not* C e n t r a l.........
235.058
Southern R a ilw a y .......
233.010
Norfolk A W estern.......
208,060
Boutb’n Pacific (8 r'ds).
186,473
B rio..............................
151,884
Central o l Georgia........
1*8,377
A tell. Top. A S anta F e.,
110,249
Obasapouco Sc Ohio.......
131,581
Wall >»i:............................
81,742
Grand T ra n k ..................
78,075
.Vastly, chat! A -t. i—
78.506
Union Pac. (8 nt>M ___
74,201
Burl. Cod. Eap. A S o t ,
73,000
St. lp>ul» A San F ra n ...
70,066
Mexican Central . . . . . .
87,783
FHrverPAL on ASOBS IX V E T
I n crcu eeo.
Chic. Burl. A Qutooy .. *285,437
Atch Ton, A Santa r t ,
238.43.5
South*# Pacific (8 r’d s ).
211,700
Norfolk A Western ___
160,163
Chic MIL A Si. Paul .
144,103
Union Pile, (6 rti*.)___
132,109
Canadian P acific........
127.111
L m ih villeA Naahrlile
121,967
Illinois O cnin il........
8 8 331
Wa bn ah. .........................
82.7*> ‘
E rie..................................
74,526
Central o f Georgia . . .
67.24**
81. Louis A sen F ran..
5 >,455
Southern R ailw ay........
17.119
G e o r g ia ..........................
16,717
Buff. Booh. A Pitta . . . .
43,951

Chic, A Grand T ru n k ...

$63,299

M e x i c a n N a t i o n a l ...........

G e o r g ia ...........................
Mobile A O hio......... .
Flint A Pure M .rquette
Minn. St. P. A S . 8te. M.
Iow a C en tral......................
Kan. C. Ft. 8. A M om ..
Memphis A C h a r ..........
Buff. Book. A Pitts . . . .
Minn. A St. L o u is .......

6 1 ,7 1 0

60,999
59,016
54,838
52.502
45,516
42,405
37,194
36.528
30,147

Total (representing
43 roads)
........ $1,183,643
I le e r c a a e a ,

PhUa A Bead .and C.A I. $565,422
B rooklyn E levated.......
54,134
Total (representing
3 roads).................. $010,556
KARNISOS IS F E R R E A R Y .

I ili rt aHCa.

M exloan National ___
Hurl. Ced. Rap. A N or..
Chesapeake A O hio......

$38,583
37,059
30,982

Total (representing
2J r oad s)....$2,030,717
D ec reave*.
Phlin.A R oot.and O.A t, $177,647
M exican C entral...........
75.766
Pennsylvania (3 r'ds) f .
6 8 ,0 0 0
Brooklyn E le v a te d ___
31,101
Northern Central..........
33,278
Total {representing
8 roads) . . ............ $392,795

When arranged in groups, both tbo aithraoito coal
group
and the Etstern and Middle group show losses
Nmtmrn's tfJS M t* u jn s jw r 1,019.49*1
% tm
t a m jM i
in
gross
and net, and the Mexican group a loss in the
One favoring circumstance in February was the fact
net.
In
the Eastern and Middle group the loss follows
that this being leap year the month contained an extra
chiefly
from
the heavy decrease on the Brooklyn E le­
day. A t the same time the grain movement continued
vated,
arising
from the fact that last year the earnings
heavy, and the excellent cereal crops raised lis t year
proved beneficial in other ways. It happens too that of that road had been exceptionally heavy by reasm
the improvement in earnings now recorded ig made of the strike on the surface roads at that time.
Grm» Earning*.
Net Earning*.
additionally significant by the fact th it a small im ­
Sxotiok oa
O iiotr.
mm.
1805.
mm.
1805.
Inc. or Ek .
provement had already occurred in the year preceding.
February,
«
P .0
»
i
4
The following carries the comparisons back for a series
»
frank tines.(1*) 13.853,153 It,#25,034 s.m .ios 3,163,850 +10+259 3*20
o f years.
knthrsu eo*t.{7> I.IWK70 +758,441
796+>50 —157,450 19*77
630,030
Open #*p.,. 35,813,701

TmrttaA
nu m ber
9 fr o a A * .
F e b ru a ry .
im t a m
im a m

(134
a m
im
n m
m m m m
J an . t to

Qrm» Mamtnm*
Tm r
(H m n .

Tm r
P reced in g .

t n c r m t i or
D m rm l
#*.

t
1
1
45,317.064 13.4-4.“0* •H^Bn.970
e m jS Q n jm

m w r jb

m jm m m
w Am am

N i t E a rn in '}* .

|

Tm r
G iv e n .

Tmr
(n o r m s * m
P reced in g . D e c r m s t.

l3.eiO.SS8
M H J19
14.U5.H1I 10.012.550
m jts A s o
I+189,4071 13.343,7#7
4% m ±m
+780.313! li.86t.8El 11,883.211
4+817,879 ++0*9,430)
11.233,072

m z

a m

U1.7I3.SI7 113.1I9.2S1 [ -1,405,814

xm i a m

wm am

28,380,3 7* 23,837.820 +S.MS.704
30.891,mo. 2,,S*10.812 +3.030.-8
W,7«.W'-: 31.905.8S i -4.19B.SM

_fB.ooo.3vr 81.065,842 25.970,331 - 3 ,8 0 >.489
Sl.7Bl.238

-,1,8X1.-28

l*g* U31>i)0l.;sg|,;stl tn.s>t»,.v>sl -s.am.gy,

+522.014
*,«>*,0o»
5+23,^0
3.00+6P7
6+92.842
7.398.488
+237,7.13

+539.H41
3.180,090
+814.327
3,71+851
6.338.475
6.40+272
1,080,785

357,188
068,007
+096.305
1.103.877
2,058,5 #8
2,349,307
427,304

Emit. A Mld.(U) S.195.088 3.215,181
Mid. We*t’.i.f24) 7,498 MS 8.822,871
N >nl>»8»l’n. (J) 1+7 :8,2m 0.810,5 U
9oathwe«t'a,an 8,480.823 7.7/S,IOi
P»OI9CCOMt(JS u.im.m® 13.467,106
Southern...439) 15,807,108 VSAWjm
Mexican...... (3) 2,857,831 2.27+073

763.667
2.00+387
3,015,5 3
2,600,974
+278,137
+913.035
97+855

3P8 877
8X7.948
1,458.388
902,412
1,573,318
+670,19452.450

-—4+700
+118,060
+537,939
+20+415
+486,232
+679,110
-25.122

10*46
18*21
38*83
3+29
30*64
40*00
6*55

*
+83+100
+2.788,581
Tot, ,(138r*ds) i9 M 7,809 4+817,870 13,253,806 11,23 +972 +*,010,833 17*97
—2,797,409
-2.15+310 fan, 1 to Feb. 29
+181.350 frank lme*..(12 M.9IOJS06 84,984,040 fl.fiae.o«2 6,280,489 +43+824 0*89
+95.4; 7 6*29
+2,010,833 Ant hra, ma\. (7) 9.397,377 0,388.700 1.895. J03 1,502,026

Feb. 29,

1891 (IH) m.m.rm
+ty9ijm\\
*80* am) m j n a t i ; i<w.k o .i» » : +a,oi7,.i

Boat. & Mid. (14)
MW. W -«*n .«li
8 •rtbwest’n.j7)
SouthweM’n fll)
Pacific Co**tti«>
^tiuhern__ (40)
Mexican .....(3 )

I5.249.7001 24,040.809' + l,8 o 8 .» 3 l

28.138.731 33.900,8 >9 +4.158,941

841,730
-78,043 0 27
1,767,532 +323,-6. 18*32
3,00+7 -5 +01+858 80*89
2.015,4(0
+50+626 29*40
3,007,250
+705,881 21*83
3,782,725 ++130,310 2.1*83
985.276
—10,421 1*68
Tot.. f!3S rfd ,>*101,324,781 02,048.546 auest.T.'s 23,989 800 14 1'8 944 17*35

710

THE CHRONICLE.

[-Vol . LXII,

clear evidence that there will be no intervention in Cuba. So
far, then, as the Great Po wers are concerned, the general feel­
ing is that the alarms of the past few months will no v sub­
Un. P*c.— Kau.Cltf A Om.
Clay . O n . Chic. * St. L. Kanawha A M chigau.
Central
Branch.
Ac
Lake
E.
Alliance
a
So.
Peoria A Eastern.
side, and that business will everywhere improve.
A tch’n Col. A Pac.
Lake Erie A W est.
Rrlc*.
Grand Trunk o f Canada. Lnni'v. N- A. A Chic.
The news from the Transvaal, too, is better this week,
Southern Road*
Manistique.
Chic. A (1<1. Trunk.
Alabama Great South’n.
Detroit Gr.H ar. A Mil. IPitts. Mar. A Chicago.
Last week it was said that the Boer opposition to Presi lent
Alabama Midland.
Pennaylv. East o f P. A K. Pittsburg A Western.
At Ian a A W est Point.
W est o f P'tta. A Erie.* •*ag. Tus. A Hnr.
Kruger’s visit to London was likely to be so strong as t >pre­
Atlantic A D mv.
Sag Valley A St. Louis.
Philadelphia A Erie.
Plttsb. Cm. Ch. A St. L . South Haven A Eastern. Augusta Southern.
vent the visit. Now the best opinion is thnt the President’s
Birmingham A Atlantic.
Toledo A Ohio Central,
Pitta. Youngs. A Ash.
Carolina Midland.
rol. Peoria A W .
Wabash.
influence has been victorious onoe more, and that practically
Central of Georgia.
N orthw estern.
Burl. Cedar Rap. A Nor. Chas’ n Cion A Sutton.
Anthracite Coal.
he has satisfied all the leading Boers that the proper course is
(Charleston A Savannah.
Chlo. Burl. A (julncy.
Central o f New Jersey
'Chesapeake A Ohio.
O hio. MU. A S t P a u l.
N. Y. Ontario A W est.
to visit London. Unfortunately, the state of affairs in MataCln. N. O. A Tex. Pac.k
Des Moines N. A W.
N. Y. Susq. A W est.
J idsdeu A Attala Un.
Iowa Central
Phi la. A Reading.
belelandseems to be growing worse. The Jfatabele are dis­
Minn. A 8t. Louis.
Georgia.
Coal A Iron.
Minn. St. Paul A 8. S. M. Georgia A Alabama.
Summit Branch.
organized, it is true, and they lack arms and ammunition.
Southwestern.
Ga. Southern A Fla.
Lvkens Val. Coal.
Gulf A Chicago.
Atch. Top. A Santa Fe.
Eastern and Middle.
But unfortunately Dr. Jameson’s raid has deprived the
, lack. Tampa A K. W .
Crystal.
Adirondack.
Chartered Company of the most efficient part of its military
*Kan. City Mem. A Blr.
Denver A Rio Gr.
Allegheny Valley.
Eureka Springs,
! Lexington A East,
Bangor A Aroostook.
force, and has deprived it also of so much ammunition that it
Bath A Hammond sport. iFt. Worth A Rio Grande. i Louisville A Nashville
1Louis. St. Louis A Tex.
Kan. C. Ft. S. A Mem.
Brooklyn Elevated.
is very difficdlt to act with effect. The Chartered ComDany
Macon A Birmingham.
Rio Grande Southern.
Buff. Koch. A Pitts.
' Memphis A Charleston,
13t. Louis & San Fran.
Camden A Atlantic.
alleges that it has men enough to maintain its authority ; that,
i Mobile A Birmingham.
San Aut. A Aran Pass.
Cumberland Valley.
Tex. Sab. Val. A N .W est. <Mobile A Ohio.
Northern Central.
its only difficulty is as regards ammunition. The fear is there­
Nasb. Chat. A St. Louis.
Un. Pac. Denv. A Gulf.
Staten Island R. T.
Norfolk A Western.
Pacific Coast.
Stony Clove A C. Mt.
Northeastern o f Georgia. fore very general that the company’s forces will not be able
Canadian Pacltlc.
Ulster A Delaware.
Ohio River.
Nevada Central.
West Jersey.
to act with effect for some time, and that the rising will ex­
Oregon Improvement.
Ohio River A Charles.
Western N. Y. A Penn.
Petersburg.
Rio Grande Western.
Middle W estern.
tend. But no doubt energetic measures will be taken to
San.
Fran.
A
North.
Pac.
Rich.
Fred.
A
Pot.
Chic. A W est Mich.
Rich. A Petersburg.
So. Pacific.—
Cin. Jack. A Mack.
supply the ammunitioa required.
Sav. Fla. A Western.
Gal. Har. A S. A.
Clev. Canton A Sonth’ n.
Silv. Spgs. Ocala A Gulf.
Louis. Western.
Col. Sandusky & tiock.
During the financial year ended on Tuesday night the total
Southern R . 11way
Morgan’s La. A T.
Det. Lacs. & Nor.
Western of Alabama.
i N. Y . Tex. A Mex.
Detroit & Mackinac.
amount paid into the Exchequer was £101,973,829, and the
j Texas A New Orleans. W est Va. C. A P.
Elgin Joliet A Eastern.
Wrightsv. A Tennllle
! Pacific Svste^i
Flint A Pere Marq.
tote l paid to the local authorities was £7,366,117, so that the
M exican Road".
Spokane Falls A N orth’n.
Grand Rapids A Ind.
Mexican Central.
Union Pacific—U. P. Ry.
grand total of the taxation of the United Kingdom amounted
Illinois Central.
Ore. Sh. L. A Utah Nor. Mexican Northern.
Ind. 111. A Iowa.
to £109,339,916. The Imperial taxation proper—the amount
St. Joseph AG r. Island. ] Mexican National.
Iron Railway.
that is paid into the Exchequer—exceeded the receipts of the
t W e include these Western lines in our table by taking an estimate for 1895
preceding year by £7,642,612. After paying for all the expend­
on which to base the increase or decrease reported for this year.
• For month only.
iture, including the flying squadron, there is a net surplus o f
The very best results are found in the Southern group, nearly £4,200,000. This surplus will not be employed in the
where the returns are almost uniformly favorable redemption of debt, as under ordinary circumstances it
(notwithstanding the small cotton movement) and would have been, but will go to partly defray the expenditure
where the gain in the aggregate reaches $1,457,216 or under the new Naval Works Ac*. For the new year the
22*76 per cent in the gross and $679,110 or 40*66 p. c. revenue will probably exceed 102 millions sterling, while the
expenditure will be rather more than 100 millions. Taere
in the net. The ratios of gain in net are large also
will thus be on a moderate estimate a surplus of about two
in several other groups, namely 30*84 per cent in the millions sterling. About £600,000 of this amount, however,
Pacific group, 32*29 per cent in the Southwestern and will be absorbed by the new Education Bill, introduced by Sir
John'Garst on Tuesday, assuming that it is passed in its present
36*88 per cent in the Northwestern.
shape.
The usual requirements at the end of the quarter and the
month have had very little effect upon the money market.
[From o a r ow n correspondents
Just for a day or two loans fo r a week have been ia fairly
L ondon , S a t u b d a y , April 4,1896
good demand at from % to 1 per cent per annum. But for a
There is all over Europe a more hopeful feeling this weak fortnight or longer money could easily be borrowed at % Per
than has existed for several months past. Certain of the Ger­ cent and even less. Everything points to a long continuance
man papers, it is true, continue to assert that there is no im - of very low rates.
The silver market is fairly steady at about 31J^ per ounce.
provement in the relations between Germany and this country,
and that more particularly the German Government is re­ The United States mine-owners are not selling, and there­
solved to maintain its claims in regard to South Africa. O i fore] though the demand for the Far East is small the market
the other hand, both in Italy and in Austria-Hungary it is is fairly well supported.
From Thursday evening until Tuesday morning next the
almost universally believed in the best quarters that the visit
of the Austro-Hungarian Foreign Ministsr to Berlin has Stock Exchange will be closed, and naturally therefore busi­
brought about better relations between the two countries. ness this week has been unusually dull. The American mar­
However the fact may be, Germany is firmly supporting ket has been depressed by reports of numerous commercial
failures throughout the States and by rumors that an import­
British policy on the Nile.
There is a belief, too, all over Europe, that the relations ant bans was in difficulties. Late on Wednesday, however,
between France and Russia are not quite so cordial as they there was some slight recovery. The general impression ap­
were. Russia has loyally supported Francs in her opposido i pears to be that gold shipments from New York will soon
to an advance of half a million sterling from th eC iisseof begin again. South American securities have likewise been
the Egyptian publio debt for defraying the co3t of tile Soudan neglected, partly because of the rise in the Buenos Ayres gold
expedition. Bat it is alleged that the Czars G ivernment has premium, but more particularly because o f the lsrge naval
addressed very sharp remonstrances to the French Govern­ and military expenditures in Argentina and Chili, la South
ment, pointing out, firstly, that the present is an inopportune African securities there has been a decline, owing to the Matamoment to raise a difficulty with England, and, secondly, bele outbreak and to the long procrastination of the negotia­
that the question at issue is too small and should never have tions going on between the Colonial Office here and President
been made so much of. Tne belief in Paris itself, as well as Kruger.
in St, Petersburg, Vienna and Berlin, is that the resignation
Mr. Berthelot’s resignation and the sore feeling of the
of M. Berthelot is due to thess Russian remonstrances. It is French, added to all the other influences at work, led to some­
certain, at all events, that there is a very sore feeling in Paris ; what of a sharp fall in international securities early ia the
and publio men and journalists in private freely complaio week. The fall was greatest, however, insecurities connected
that while France has supported every action of Russia, with Turkey and Egypt. It is believed that a syndicate which
Russia fails France the very first time she is csllel upon to had been working in Paris, Constantinople, Berlin and Vienna,
back her up.
and which held immense blocks of Turkish and Egyptian securInconsequence of all this the belief is general that European iti=s, has at length been compelled to liquidate, and that the
p:ace will be maintained, and that a letter s ate of things fall in these securities is mainly due to the heavy sales thereby
will scon be established. It is also very generally believed brought about.
that the Venezuelan question will be settled satisfactorily very
In spite of all, it is believed that the new Cainese loan has
scon: rnd the news from the United States is regarded as proved a.-success It is said that it has bsea more than covered

The follow ing is a Uet o f the roads included under each group in the
foregoing table:
Pacifls Coast—Con.
Midd'e W estern -Con,
IVunk Line*.

p i croelaicgi©orameEcial^ttglisfrfltews

THE

A pr il 18 1896.]

C H R O N IC L E .

The following shows the quantities of wheat, flour and
maize afloat to the United K ingdom :

in London, and tiwt it has been covered several times over in
Germany. No doubt the fact that the bonds will be inscribed
at the Bank of England has had a very powerful influence
upon investors in this country.
The rate# for money have been as follows :

I

Trade Bill*,

Bank Bills.

Thitw eek. Last week.
W heat..................u r s .) „ - 1B
12 ,3(5 ,000
flo u r , equal to qrs. I AO is.uuu J 302,000
-q
rs.
556.000
624,000
Maiie.
E a s lla lt F in a n c ia l

Interest allowed
for deposits by

Open Market- Rate*.

4

Disc’t M*te

J/nr 2d.

Mar 20.

Bank
O pen
R a t* . M arket

Bank
Open
R a t s . M arks

A p ril. 2.
B a tes o f
I n te r e s t at

Bank
R a ts .

Open
Market

2
3
3
3
3

w
m
244
2W
m
IS*

Pari* . . . . . . . . . .
Berlin. ........ .
H am burg.. . ..
F r a n k fo r t ,, . . .
A m sterd a m ..
BrasseU . . . . .
Vlanna..........
Si. P «i*rffe»r«Madrid
Qotmnh&mmi...

2*
4
«hi

«
3
3
S
3
S3*
*
ei4
04
SV4

Ml
644
4«
SW

m

2
3
3
3
3

*K
m
‘I X
m
m
m
««
414
M4

*«
1
««
04
SW

m
*14
m
SM
•04
m
m
ax
04
M4

614
414
3)4

1894.
3,f 41,COO
4 8 9 ,0 '0
359.COO

i i a r a « u - *"**5s' i d o i t

Sal.

Mon.

Tttes.

Wed.

31%
U 01tle
uo%
lO l'lO
157s
57^4
165*
7 e7s
-i7 s
U ’b
39%
97 q
150 ki
50 °3
~l'-4
11*8
*983,
14>o
5N
11*8
55
5%
Oh
30<4
BX

3 U ,e
110=8
110U «
01-3753
ia>s
57%
165,
77%
47=1
15
393;
97 q
1504a
51
711*
11»*
98%
14=9
5%
1183
55
5*3
9*6
30
88)

3013,,
110«,g
110^8
01'22>*
168)
58
16%
77%
48%
15
40
97
150 >a
51%
71M
11%
9S%
14%
5%
11-4
55
0-4
9-4
30%

30‘ s
110%
U 0 l» ifi
101*20
16%

L ondon.

Consols, n ew , 2% p. ots.
F or accou n t.................
Fr-eh rentes (InFarislfr.
Ateh. Top. & S. F e.........
Canadian Faclrto............
Chesapeake <fc Ohio.......
Ohio. MUw, * 8t. Pan!
rates at the Der,v. Jt. Rio Grande, nfd
E r i e ........................... .
do
1st preferred.
Illinois C entral..............
..............
Lake
Shore.......
M ar. Id.
Louisville * N ashville..
Mexican Central 4 s .......
Bank
O pm
do. Kan, A T ex. c o m ....
B a t . . M ark,,
S. Y. Centra! A Hudson
S. Y. Ont. A W estern...
144
*
Norfolk A West’ n, pref
2
3
Northern Paolflo, p ro f..
P
ennsylvania.................
3
2
PhlL A Bead., per share
3
2
Southern R y., c o m .........
•7
*K
do
p r e fd .............
154
Union Paelflo....... ..........
4
m
i Wabash, p r e f ...,______
<H4
04
314

1895.
............
............

The daily closing quotations for securities. &c., at L on -on
are reported by cable as follows for the week ending Apr. 17:

z Three- Four | Six
Three Four
Six
Stock At 7 to 14
~* Month* Month, Months Montha Month» Months Banks. Call Darn
a
Mar. ft 2 11-13 1(1 13-16 ‘ Jt
l #114
l)*#IS«
H
„
13 2
n -i# li-ir-K HVH 1
hi
a
H
> « * » « 1MS1H
M 20 2
hi
i m m u r n u 1MSU4
hi
X
" m 2 H i i-iB ii iR-'-t m n
hi
l
>M«1W H
H
m
2
%
tl-16
1
m
11-16 % cJ4
hi
X
Apr. 3
H
1M4144
* is-ie «t5 -ie .

The Bank rate of discount and open market
chief Continental cities have been as follow s:

711

;

18%

1© o r a n x e v c t a lim

d

is\t

8-4

18-4

16%
78%
48-4
15%
40
97
151
52%
71%
12%
98%
14^8
5%
11%
55%
6%
9-4
31
S-4
187s

Thurs

Fri.

3016,6 31
H 01618 l i u i x e
111%
til
101-40 101-65
16's
16=8
60%
61%
16%
167,
73=8
78%
49%
49-*
15%
15%
41%
42
97-4
97%
151
151-4
152%
52%
71%
71%
12H
12 H
99
99%
15%
15%
5%
5%
10H
10%
55%
55%
6%
6%
9%
9%
31%
31-4
8%
8-4
19-4
19

U S M s c e lla tte fftts H e w s

The following return shows the position of the Bank of
C o i n a g e DY U n it e d S t a t e s M in' t s . — The following s ta te 1
England, the Bank rate o f discount, the price o f consols. See.,
ment, kindly furnished us by the Director of the Mint, shows
compared with the last three years:
the coinage at the Mints of the United States during the m o n t h
im * .
m s.
wm.
w *».
of March and for the three months o f 1896.
April l .
A p ril 4,
A p fU fk
A p ril$ .
Circulation......... ...................... .
2«.733.230
Public deposit*. . ................ ......... 17.211, IS»
0t&®Mf dtp-Oftii# .a*
M M 7 .m
G or«rara«m sm u H U m
i& M iM a
CHfeere m u r m m
., . . . . . . . . . 22.5*3.418
R sM rveaf note* and cola------ - 3?tm . m
<5ote -k bOS)t«tl« boift O^pmrtm ' u
Prop, rm errts m lianiUti«*. - p.c.
S ix
t
B a nk rata
.. .~sm t ca n t.
<k>nmU, 2U m r m m i . . . .
m iiwid
Siivar
.................... ......................
t7 e .it 1 .ooo
Okumtut' O o b m m t a m s

20.123.705

25,172,530
1 IA7%*H0

3t.0as.fttt
fO,ltd.7tO
3 A m ;m

8.031.810
m . m . 783
30,80 M .97

m 15 to
2

MW
a

2ft.85H,4d*0
70077.810
w M A .m
n ,2 « 4 o i
27.024.083
10,240,558
25. *a 1,018
MW
«w

10 14 4

MA

m & im .
im fiu jm

March.
Denomination.

Pieces.

Three Months 1896.
Value.

Pieces.

Doable eagles..........
Eagles......................
Half eagle*.............

77,015
l!

$
1,540,300
130
SO

Smarter eagle*........
Dollar#............... .

18

45

Value.

$
772,790 15,455,800
13
130
44,816
224,080
5,858

11,645

*t x a
106,580.000

Total g o ld .........

77,062

1,540,555

Messrs. Pixley & Abell write as follows under date of
April It

Standard dollar*__
Half dollars.............
Quarter dollar*---- til me*........ .............

1,500,287
287
677.287
150.287

1.500,287
143
168.072
15,029

3,000,287
287
932.287
150.287

3,000,287
143
233.072
15,029

2,323,148

1,633,531

4,083,118

3,248,531

410,787
2,827,737

20,539
28,278

1.331,987
7,435,787

06,599
71,358

3,238,574

48,817

8.707,771

110,957

Gold- No open market arrival* Save as yet reached the Bank, but
tea demand h** only permitted nt a very •mall premium. £*50,000 i
Total silver..........
he* heea pttretased on weronat. o f the Japanese Government. The
Bask baa ««M, store oer last 412.000, ami ha* reunited 4 40.000.
Arrivals: South t m m , #298,000: River Plate, aSp.OiK), Sew York. : fiv e cents...............
43,000;
4288.000, Shipment*: Bombay, 425,000, Japan, i Vae mint........ ........
A317,5(K; Calcutta. 415,-O f; total. 435*300.
Vowl m in or...___
Silver—T h e *llvt-t mat feet J n * not show n m »«fa a c tiv ity , a n d althou gh ;

823,477 15,694,655

there has been so m e K »*to rn d e m a n d lit - price It i - fallen to 3 1 M ; *
5,038.784
3,272.903 13,674,399 19,084,143
oolnage.....
t o d a y . A r riv a l*: S e w T o tfc. e i o i . e o o ; c h ili . 4 3 3 , 0 0 0 : to ta l. A I M , 0 0 0 . S h ip m en ts: B o m b a y , 4 7 5 ,0 0 0 ; C h in a, AH.OOlJ: J a p a n , A U O ,0 0 0 , j
C h a n g e s in L e g a l T e n d e r s a n d N a t i o n a l B a n k N o t e s t o
C alcu tta, 4 1 7 , 5 0 : ; total. 4 2 1 3 ,5 0 0 .
M exican D ollar?— A few dealings h a ve taken p lace In t h e e coin an d j A p r i l 1.—The Comptroller o f the Currency has furnished

a* hlsm aa 81% I. ha* been paid, bat last rate* are about 314.. buyer*
Sh ip m ent* to C hina. 4 8 3 ,0 0 0

os the following, showing the amounts of national bank
notes March 1, together with the amount# outstanding
April 1, and the increase or decrease daring the month;
also the changes in legal tenders held for the redemption o f
Apr. i* Mar, 26. bank notes up to April 1,

Tha quotation# for bullion are reported as follows :
oou>.
London Standard.
Bar geld, ans ...<w.
Bar gold, parting.m
■Spanish OM,«,*,. m.
tio. I9««r .a.-o*.
0 . 8. gold <»lo.
Oar man sroid m\n.m
Preneb «otd-cola..e»

Apr, I.
».
rr

A

77

m
0
%
1
311

7#
79

7S
78
A«

Mar. m.
■7
77
1#
76
7«
7#

SttsTMU.
LamUm Standard.

d. ;
d.
4.
tH liar .live-, fine ..<«
%m
si h
10 Bar *i1t« , contain31W
*I*s
® '■ tag Sara*flWMItfwOii*
1
S Cake stiver.........os. « 9 . I 8 a 11-10
SIM
31%
< Maxlcan doliara.o«
3%

The fo l l o w i n g shows the imports o f cereal produce into the
United Kingdom during the first thirty weeks of the
M a s o n , compared with previous seasons;
IMPORTS.
1895-96
1894-93,
1893-91
Im p ort*# ! wheah8WA38.ia3.K60 39,132,598 32,9 41,970
B arley............... ......... 15,433 240
1 7 ,8 0 5 .7 7 1 20,203.254
Oat*.............................. 7,843.580
7 .9 7 0 .8 0 7
7,030.901
T e a * ...............
1,096,950
1.153,539
1,618,703
B e a n * ........................ 2,148,942
- o .u -.i
3,197,367
Indian corn............... 27,731,700 15,235,314 19,133.340
F lo o r ........................... >2.637,480 11,661,270 1 1.200,35*9

1892-93.
38,292,300
10.885,621
7,072,077
1,413,339
2,587,107
HI,851.468

,Sa) tonal Hank V o'tt—
Amount outstanding March 1 ,1 8 0 0 ...........
Amount loaned during M arch,,........................
Amount retired during March..........................

$5,014,950
880,010

Amount outstanding A pril 1. 1896*.......

$217,093,165
4,134,340
$221,227,805

Legal T end erVotes—

Amount on deposit to redeem national bank
notes March 1 ,1 8 9 0 .......................................
Amount deposited during M arch.. . . ..............
Am t reissued and banknotes retired to Mar,
Amount on deposit to redeem national
bank note* April 1, LOB.......................

$22,044,511
$ 3 3 9 ,8 9 9

879,610
_

539,711
$2L50L8OO

'Circulation o f National Gold Banks, not Included In above, $88,222

According to the above the amount of legal tenders on
deposit April 1 with the Treasurer of the United States to
redeem national bank notes was $21,,504,800. The portion of
this deposit made (l) by banks becoming insolvent, (3) by
banks going into voluntary liquidation, and- (35 by banks
12,140,9 45 reducing or retiring their circulation, was as follows on the
Suoph. i available for consumption (exclusive of stock# on first of each of the last five months:
September i):
Jfar, 1.
Deposits htj—
A pr 1,
Jan. 1. | Peb. 1.
Dec. 1.
1895-96
189 4-95,
1893-9 4.
1892-93

Wheat Im ported.ewt.33.123,663 39,132,596 32,911,970 36,292,390
Import* o f Boar.........12.8:17, l* > 11.661,270 11,200,399 12,110,915
Sale* o f hom e-crow n. 9,724,003 13,771,020 14,661,983 16,452,321
T o t a l ...... . . . .

60,685,749
1895-98.
Aver, price wheat wsek.24* t o d ,
A verse* p rice ,se a so n ..25*. Id.

64,564,896
1894-95.
20*. 01.
19*. n t.

58,304,232 64,885.656
1893-94.
1892-93.
21*. 4d.
24*. 8d,
26*. 2d.
28*. 116.

$
$
*
$
899,269
878,087
801,885
084,849
tnsolv'ntbks.
803,582
U qu ld'g bit* 4,954,332 4,838,582 4,751,652 4.662,029 4,751,589
Ked'o'g under
act o f 1874* 17,643,756 17,208,230 10,767,027 16 504,395 16,951,326
T ota l.

2 3 .t0 I.R -0 23,011,661 22,417.948 22*044.511 21,504,800

•A ct o f June 20, 1874, and Ju ly 12, 1882,

THE CHRONICLE.

712

|Vol . LXII,

—Messrs. Dunecomb & Jennison, 59 Wall Street, advertise
in our State and City Department half a million City of
Boston 40-year Rapid Transit Registered Bonds. Particulars
on application.
—Mr. F. J. Lisman, No. 10 Wall Street, announces in
another column that he is prepared to trade in the securities
of the different bridge companies, and enumerates a number
of them.

N a t i o n a l B a s k s . —The following information regarding
national banks is from the Treasury Department:
C O R P O R A T E E X IS T E N C E E X T E N D E D .

2,332.—The Fanners' National Bank o f Geneseo, Illinois, until March
31 ,191 6.
IN LIQUIDATION.

3,083.—The M erchants’ National Bank o f Mtiakegon, Michigan, has
gone into voluntary liquidation by resolution o f its stock­
holders dated March 26 ,189 6.

I m p o r t s a n d E x p o r t s f o r t h b W e e k . —The following are
Auction Sales.—Among other securities the following net
the imports at New York for the week ending for dry goods regularly dealt in at the Board, were recently sold at auction :
April 9 and for the week ending for general merchandise
By Messrs. R. V. Harnett & C o.:
Snares.
April 10; also totals since the beginning of the first week
30.000Consol.E l«c.8tor.C o.$2,10U |40 Mercantile Nat. Bank....... 170
in January.
By Messrs. Adrian H. Muller <fe Son:
FOREIGN IMPORTS AT NEW TORS

For Week.

1894.

1893.

1895

Dry Goods.......
Gen’l mor'dise.

$2,200,905
11,550,802

$1,436,992
0,9(31,802

$3,134,187
7,817,794

$2,388,283
6,830,472

Total..........
Since Jan. 1.

$13,757,707

$8,398,794

$10,951,981

$9,218,755

Gen’l mor’dise.

143,041,093

Dry GoodB....... *48,767,088 $26,559,960 $47,836,917 $42,585,648
94,508,515

97,442,090

Shares.
15 N. Y.<fcN. Jera.Telep. C o .I2 3 7g
5 N. Y. Phonograph C o___ 86 lot
50 Standard Oil T ru st.........233'g
12 A ctor Place Bank ______ 246bi
45 Third Ave. RR . C o.......... 17913
10 L awyers’ Title Ins. Co. 1 o 0
Bonds,
$6,000 Silver Sprin gs Ocala &
G ulf RR. 'a ,g u a r a n te e d ... 73
$4,000 Br’klyn & N. Y . Ferry
Co. 1st 6s, 19 11....................117

Shares.
20 Ninth Ave. RR. Co...........ISO's
1 N. T. Society Library -..$ 7 5
110 Oriental B ank..............191-192
149 Nat.Biuchers’ A Drover*'
B a n k ............................ 138-139
5 Second National Bank of
Orange. N. J ....... ............100
21 MoGull-Ives Hat Curling
Machine Co. o f N. J _______5
50 Tlimited A sphalt C o........ 100

1896.

97,013,511

Total 14 weeks $191,808,181 $121,068,175 $1-15,279,007 $139,599,159

City R ailroad Securities—Brokers’ Quotations.

The imports o f dry goods for one week later will be found

n our report of the dry goods trade.

1894.

1893.

Total 14 weeks

1895

$8,918,398
94,094,021

Ohrisfc’p’r&lOth St.—Stk.
155
1st mort.,1898 ...A<fcO 105
110
3 10 6
D. D. E. B. & Bat’y—Stk. 106 170
85
1st, gold, 5s, 1932.J&D 1 1 2
Bleek. S t.& F u l.F .-S tk .
114*4
29
Scrip................................ 3100 1 0 2
1 st mort., 7a, 1900. J&J 5107
109*3
340
Brooklyn Rapid Transit.
2 2 1* 2 2 S Eighth Avenue—Stock... 330
Scrip, 0s, x914............... 103
B’ way & 7th Ave.—Stock. 192 195
42d & Gr. S t Fer.—Stock 310 325
1st mort., 6 b, 1904. J&D 3105
42d8t.& M an.& StN .Av. ...... 60
2d mort., 5 b, 1914. J&J 310 8 1 1 2
B’-wav ls ’t, 5s,«niar.l924 3110 115
1st mort. 6 s, 1910.M&S 3115 116*3
05
70
2dmorhlnc6me 8 s. J&J
2d5a.int.as rent’1.1905 3104 *a 106
Consol. 5s, 1 9 4 3 ... J&D 113*3 114*4 Lex.Ave.&Pav.Ferry 5s. m i * 111*3
Metropolitan Traction... 1 0 fi *4 106
Brooklyn City—Stock.... 168 170
Ninth Avenue—Stock... 158
Consol. 5 b, 1941...J&J 113
Second Avenue—Stock.. 162 165
Bk]yn.Cro*s8t,n 5s.l908 105
istm ort,5s,1909.M & N 107 109
BkTn.Q’nsCo.&Sub.lst
98 10 0
Debenture 5s, 1909. J & J 103 .......
Bklyn.C. &N 7wt’ wn—Stk 160 200
5b, 1939 ......................... 3110 1 1 2 Sixth Avenue—Stock— 195 203
14
Third Avenue—Stock. . . 179*4 180
B’klyn Trac., 2d ast’ tpd. 13
45
48
1st mort., 5s, 1937. J & J
Central Crosstown—Stk. 192
T-wenty-Third St.—St’k. 300
1st M ., 6 s. 1922...M A N 3H8
Deh. 5s, 1903................. 100 105
Cen.Pk.N.&E.Riv.—Stk. 160
98 105
Consol. 7s, 1902...J&D 114 lie
1st 5s, 1 9 4 2 .................... 3102*3 105*8
Westcliest'r, 1st,gu.,5s. 3103 103**
Colnmhus & 9th Ave. 5s. 1 1 1 * 4 1 1 2

$90,492,491 $103,012,419

1896

$7,553,987
88,135,283

$7,138,554
98,869,436

$95,689,270 $106,007,990

The following table shows the exports and imports cf specie
at the port of New York for the week ending April 11 and
■ince January 1, 1896, and for the corresponding periods in
1895 and 1894:
EXPORTS AND IMPORTS OP
Gold

Week.
Great B ritain............
France.........................
Germ any....................
W est Indies................
South A m erica..........
A ll other oountrles..
Total 1 8 9 6 ..........
Total 1895..........
Total 18P4..........
Silver.

SPECIE AT NEW YORK.

Exports.

Imports.

Since Jan.X.

$18,444

$9,669,260
820,250
1,300,000
1,304,370
23,COO
144,374
293,364

2,473,764

$1,634,808 $14,412,018
624,712 31,112,604
3,836,000 12,437,126
Exports.
Week,

Week.

§ And accrued interest
x Ex-dividend.

Since Jan. ).

$ ............ $11,126,639
2,164,868
182,665
589,026
3,956,652
697
168,501
315,177
6,047
33,638
$595,770 $17,947,740
218,389 13,481,331
526,391
3,909,110
Imports.

Since Jan.X.

Great B ritain............
Franoe........................
Germ any....................
W est Indies...............
M exioo.........................
South A m erica..........
A ll other oountrles..

*909,100 $13,436,624
915,174
120,000
1,760
6,285
247,887

T otal 1896..........
T otal 1895..........
T otal 1894..........

$1,030,860 $14,702,983
646,426
8,276,083
645,143 11,057,324

96,528
485

Week.
9 ~ .~ .

Has Securities—Brokers Quotations.
GAS COM PANIES.

,

Bid. Ask.

Brooklyn Gas-Light......... 160
Central....................... — 160
Consumers’ (Jersey City). 83
103
10 0

$17,225
14,397
22,581

90

88

Ask.
175 ~

220

107
70
84
87
107*3 109
75
78
64
06
89
Bonds. 5s______________ 3 87

* E x rights.

51,243
300,938
338,947
11,431
#709,116
370,498
471,744

105
215
105

f . & East Riv. 1st 5s.. 100*3 10 1* 2
72
75

$6,557

Bid.

20 0

109*
237

10 0

3 And aoorned interest.
6,193
11,032

GAS CO M PAN IES.

People’ s (Brooklyn). .... 100
Peoples’ (J ersey City)— 170
Metropolitan (Brooklyn). 230
300
106

104

Jersey City & Hoboken.. 180
106
230
300

N.

Since Jan

Ask

Atlan. Ave., B ’klyn—

EXPORTS FROM NEW YORK FOR THE WEEK.

$6,591,692
T or the w eek..
P rey, reported. , 83,900,799

Bid.

Ask.

Bid.

The following is a statement of the exports (exclusive of
•pecie) from the port of New York to foreign ports for the
week ending April 14 and from January 1 to"date :

a n d

f i n a n c i a l

Spencer Trask & C o .,
BANKERS,

N E W Y O R tt.
Of the above imports for the week in 1896 155,852 *T A 2 9 P I N E S T R E E T ,
65 State Street, Albany,
were American gold coin and $2,093 American silver coin.
Of the exports during the same time, $1,444,815 were Amer­
I N V E S T M E N T
S E C U R IT IE S .
ican'gold coin.
S a m u e l

D .

D a v is

&

C o .,

—Mr. Thomas L. Greene, well known as a railroad expert
BANKERS,
and writer of editorial articles on railroad finances in the
Evming Post, has been appointed Auditor of the Manhattan
NO. 4 0 W A L L S T . , N E W Y O R K .
Trust Company, a new position created for him in order that
C h a s . B. V a n N o s t r a n d ,
the institution may have the benefit of his knowledge in S a m u e l D . D a v i s ,
connection with railroads and other investment properties, i
GKOKGR 8 A .H 0L A V \COPFAT

A L E X A N D E R M . V^HITE. J a

—Messrs. Pfaelzer, Walker & Co..|Boston. are prepared to deal
in Rutland RR. and Ogdenaburg & Lake Champlain RR. bond
M o f f a t & W h i t e ,
issues. This firm make a specialty of inactive railroad bonds,
BANKERS
especially those peculiar to the Boston market, and invite cor­
S T R E E T ,
Y E W
V
respondence with parties [desiring either to buy or sell. See 3 0 " N K
card in another column.
________________ INVESTMENT s e c u r i t i e s .
—Attention is called to the offering of Duluth & Iron
Range RR, first mortgage 5 per cent bonds at 104 and interest
by Mr. Jacob Rubino. 3 Broad Street. The company earned
net in 1895 about $1,200,000, while the interest charge on its
first mortgage bonds is only $316,600.
—An extensive list of investment securities is offered by
Messrs. Redmond, Kerr & Co. in our advertising columns today. For prices and details address them at either 41 Wall
Street, New York, or 421 Chestnut Street, Philadelphia.

BON DHOLD ERS AND
REGULARLY

STOCKHOLDERS

» H H

SHOULD

READ

THE BOND RECORD,
a monthly Journal of Economics and Finance, containing latest earnings,
reorganization news, dividends, quotations, besides impartial, expert dissec­
I tion of the annual reports of all railroad and other public corporations, with a
I view to presenting a true statement concerning financial condition, physical
characteristics and condition, and traffic; also articles upon the leading financia
questions of the day, written by the ablest specialists. For sale on ah News
stands and at 20 Nassau Street, New York. *3 per year; 25.cents per copy.

THE

A pril 18, 1896,]

C H R O N IC L E ,

HJhe J B a ttk e rs r < ® a le tte .

713

at 117 to 117]4 : $15,000 4s, coup., 1907, at 109>£ to 109%, and
§28,500 4s, reg., 1907, at 108% to 108%. Closing prices are as
follow s:

D I V I D E N D S ,

Interest

K a il r o a d * .
Cln.Ifaui. A Day., newprf.(ftuar.)
Cin Sandusky & Clev. pr> f .........
Xjiki.' Erie & West. pref. (quar )
N a sh u a * L o w e ll........................
Na.-hv. Chart. At St. Louts (qnar.):
Pittsburg Virginia * C harlesVn.’
Western Penm wlvania.................
B an ks.
Paeiflo (quar t .................... .......
T ru s t c o m p a n ie s .
N. Y. Security <fc T*ugt . . . . . .
i
M ls e cU ane ott *.
A lbany (N.Y.) By. (quar .1...
1
B rooklyn City RR, (q u ar.)...
Henry R, W orthington pref..

1%
3
1%
4%
I
2%

May
May
M ar
May
May
May
Apr.

2

May
May

5
i%
2%
3%

M sv
Apr.
May

4
to
1
M ay 1
15 May 1 to M ay 15
1 ------------------- TO
X Apr. 2 * to May 1
1 -------------to
15 ------------ to
1
i
1 Apr. 21 to May 1
11 Apr. 12 to Apr. 15
1
May 2

W A L L S T R E E T . F R I D A Y . A P R . 17. I S 9 6 - .5 P . M .

The Money Market and Financial Situation.—-'There has
been a decided improvement daring the w eek in the business
centering in Wall Street, for which there are logical and
substantial reasons.
The hop} o f an early adjournment o f Congress fe re­
garded as a reason for renewed confidence in financial circles.
The course of the foreign exchange market, the limited gold
export movement and the liberal offering o f sterling loans
have a stimulating effect upon sentiment in the Street.
The progress now being made in reorganizing some o f our
prominent railway companies, notably the Atchison anti
Northern Pacific, has a beneficial effect upon American
railway securities, especially in foreign markets.
But perhaps the most potent of all factors in producing the
change referred to is a clearly marked increase in the demand
fo r investments in London. This demand is moat conspicu­
ous in the standard English securities, but now extends also
to Americans and commission houses, and some o f the large
Wall Street banking houses report an increase of orders from
abroad.
The open market rates for call loans during the week on
•took and bond collaterals have ranged from 2* j to 3 ', per
oent. To-day's rates on call were 2* j to 8 per cent. Prime
oommercial paper is quoted at 5rt$5% per cent.
The Bank o f England weekly statement on Thursday
showed an increase in bullion of £665.684, and the percent­
age o f reserve to liabilities was 3 9 st» against 59*17 last
week ; the discount rate remains unchanged at 2 per cent.
The Bank of Franco shows a decrease of -WO,000 francs in
gold and 1,225,000 francs in silver.
The New York City Clearing-House banks in their statement
of April 11 allowed an increase in the reserve held of 1925,273
and a surplus over the required reserve o f $17,031,250, against
$17,005,975 the previous week.

C a p ita l..............
Barplno.............
Loan* & (liac'nia.
C tren latl.n ....... .
V et deposit*.......
8i eoie..................
Lett el tenders___
Reserve held, . . .
Legal reserve ..
Bnrplne reeerve

1896,
April 11.

DiJTenrn'sfmm
P res, week.

1895.
April 13.

1804.
A pril 14

•
61,122,700
72.853.300
465.612.400
14.341.300
483.151.400
58,825,000
79.s84.100
138,719,100
120,787,950

1

•
62.822,700
71,046,80.
181,'*23,10O
13,141,300
503,830,500
85,3 87,000
75,493,400
1*0,880,400
125,957,625

59.922,700
70.690,600
45 633 9 ,4 0 0
11,042,300
583,506 400
100,093,606
121,808,000
221,767,600
140.878,800

14,922,77?

80,831,000

Iuo*” '*387.""00
Ine.
SS.800
Inc .13 85,7 00
Deo. 416,600
In o . t ,6 5 0 3 0 0
l o o . 1364,200
In o . 838,925

17,931,250 In e .

9 2 5375

Foreign Exchange.—The market for foreign exchange has
been dull and easy, with rates below the point at which gold
can be exported at a profit. On a special transaction, how­
ever, a shipment of $700,000 has been marie.
To-day’s actual rates of exchange were as follows: Bankers
sixty days'sterling, 4 87%<§4 88; demand, 4 88%@4 8$%;
cables. 4 8t*%®4 89.
Posted rates o f leading bankers are as follows:
A pril 17.
Prime bankers’ sterling bUls on L ondon..

Prime coromereiat............................... .

Documentary com m ercial..........................
Pans bankers' (francs).................... .......
Amsterdam (gander*) bankers................
F ra n k fo rt o r H r.ro . . irelohm -irksi b’ kors’

Strip Days.

Demand.

I B S 's
* Dll's A t 00
4 87% *4 8 7 V
............
4 8 6 % * 4 97 t
...........
5 1 6 % » 5 10%* 5 1 5 9 5 14*18
4 0 ^ * 4 0 1 ,,
4 0 * ,,9 4 0 %
952)8 « 9 5 H
99*899511,8

The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buying
1-16 discount, selling par ; Charleston, buying par, selling %
premium: New Orleans, bank, $1 50 premium; commercial
25c. per $1,000 discount ; Chicago, 70c. per $1,000 pre­
mium ; St. Louis, S0@30c. per $1,000 premium.
Putted States Bonds.—Government bonds have been
on a rising market. Sales at the Board include
$430,000 is, coup., 1925, at 117 to 118)4; $37,950 4s, reg., 1925,

a c t iv e

Periods

B ooks Hosed.

April

ip ri
ril A pril
16.

* 93 - 95 * 95
"10?% 108%*LO?%
"109 *109 |*L03
*117
11 7% * x W %
117% 117% LL7%
•113% 113% *x l2%
113% '1 1 3 % *113%
*103 ,'103 i*103
*105 *105 i-105
'107% '1 0 7 % '107%
*100 ,*100 1*100
*100 *100 *100
*100 *100 1*100
*100 *100 *100

95 I* 95
103%, *108%
109 :‘ L09
n -i% . 117
1 L77g 113

LI. i 13
• 95
10? V
109%
117
117%
113%
113%
'103
'105
107%
too
'100
100
■LOO

2s........................ reg.
4s, 1 9 0 7 .............reg.
48,190 7.......... coup.
4 8 , 1925............. re«.
4s, 1925.......... coup.
5s, 1904............. reg.
5a, 1 9 0 4 ... ....ooup.
6s, sa r’cy ,’97. .reg.
6a, our*Gj%'98...reg.
6s, e a r’ey .’9 9 ... reg.
4s, (Oher.)1896.rejr.
4s, (Cher.)1397.reg.
4s, (Cher.)1898.reg.
{Cber.)1899.re.K.

An u

15.

n i2 % ‘ ll2%

*113% '1 1 3 %
103
103
105 *105
*107% *107%

ioo

100

100
100

*100

*100
*100
'1 0 0

' This la the p rice bid at the m orning board, at) sale was made.

United States Sub-Treasury.—The following table shows
receipts and payments at the Sub-Treasury.
Date.

Apr
•*
“
“
“
“

11
13
14
15
10
17
l!

When
Payable.

P er
C ent

S h im o f Oompan j .

Receipts.

J Payments.

Balances.
Coin.

2,099,821
3,44 G,965
4,826,507
3,423,74*
3,908,403
3,689,246

s
127,612,068
128,673,111
127.518,870
127.162,998
127,253,705
126,996,927

17,992,7931 21,194,662

.............

1,676,573
3.308,34?;
4,718.934 i
2,2634)11
3,236,305
2,786,672

Ooin Vert's.
8
!
3,311,394
3.181,929
3,069,181
3,166,720
3,112,348
2,741,047

Currency.
4
84,618,228
90,3784*32
89,937,648
89,037,652
88,329,219
88,054,744

Coins.—Following are current quotations in gold ter coins :
Sovereigns. ....'..4 4 86
N ap oleons........... 3 SO
X X Relcbtuarks. 4 75
25 Peseta*............ 4 75
Span. Doubloons.15 55
M ex. DoQ.blooas.15 50
Fine gold bars.
par

» $ 4 92
'» 3 02
it 4 83
a 4 SO
©15 75
a 15 75
» % prem

Pine silver b a rs... — 67 V ® — 68 %
Five fra n cs......... — 90 ® — 95
M exican d ollars.. — 54 <* — 55%

Do unaom’o la l..-------m — —

Peruvian sols....... — 4 8 V » — 49%
English silver . . . 4 80 a 4 <o
U. 8. trade d ollars — 65 a — 75

State and Railroad Bonds.—Sales of State bonds at the
Board include $37,500 Virginia fund, debt 2-3s of 1991 at
6044 t o 61%. $100,000 Virginia Csdefd. trust receipts, stamped,
at iJi to 3 ^ : $2,000 No. Carolina 6s. i019. at 134; $4,000
Terns. settlement 3s at 85% to 86, $2,000 Louisiana con. 4s
at 98% and $3,000 Alabama Class A at 106.
Tliere has been renewed activity in the railway bond mar­
ket this week and the business lias been much better distrib­
uted. The satisfactory progress now being made in reorganiz­
ing the Northern Pacific and Atchison systems has tended to
make the bonds of these companies the favorites. The
Northern Pacifies have been firm; Chicago & No. Pacifies
have advanced 1 per cent and the Atchison, Gregon Short
Line. Chea. & Ohio, Southern Ry, and Reading issues have
advanced an average of about 2 per cent. The active list
includes also Burlington & Quincy, Louisville New Albany
& Chicago, Mo. Kansas & Texas, Ore. Short Line & Utah
Northern, Rio Grande Western, Texas & Pacific. Union
Pacific, Wabash and West Shore bonds, many of which have
made a fractional advance.
Railroad and Miscellaneous Stocks.—The market for
stocks lias been strong on an increased volume of business.
The improved conditions are due to several causes already
mentioned which may be considered as reasonably substantial
and permanent. In the railway list share.; with an interna­
tion market show the best results, Louisville & Nashville
selling on Thursday at P.2, an advance o f 2% points from the
closing price last week. A t the same time St. Paul had
gained i% and Southern Ry. preferred 1% per cent. Other
granger shares have made substantial gains on the favorable
outlook for business. Missouri Pac, has advanced nearly 2
points on buying said to be o f a good character. A little more
interest lias lieen manifested in the coal stocks. Erie 1st
preferred and 2d preferred advanced 1% and 1 per cent re­
spectively.
The Industrials continue to be most alluring to the specu­
lative element, with various results. American Sugar has
gone to tiie highest point reached since March, 1893, selling
on Thursday at 123 Tg. The Iron stocks have continued the
advance noted last week, Illinois Steel selling on Wednesday
at 73. a gain of 6% points within the week, and Col. Fuel &
Iron and Tenn, C, I. & Railway are substantially higher,
Chicago Gas has been active at higher quotations on various
rumors about prospective dividends and future business.
General Electric is one of the few stocks which have declined
during the week. It is reported (hat there has been some
liquidating of this stock, which the bears have taken ad­
vantage of. Interest in American Tobacco has diminished
since the dividends came off on Wednesday, and it has been
weak.
Parties who are accustomed to watch “ the tape ” for the
daily range will be interested in the following announce­
ment made by the Stock Exchange officials—‘ "that hereafter
no options will be considered in reporting the highest and
lowest prices for stocks made during the day, and that only
sales made in the regular way will be considered in this con­
nection."
This is a new departure on the part of the Stock Exchange,
as heretofore options have been considered in reporting the
highest and lowest prices o f stocks during the day.

THE CHRONICLE.

714

NEW YOKK STOCK E X C If YN U E- A C T ! V S

V T O IK I fir

w>.i'c e n l L i y A P R I L , I 7 , a n i sin a e J A N .

HIGHEST AND LOWEST PRICES.
Saturday.
Apr. 11.

Monday,
Apr. I X

Tuesday,
Apr. 14.

iWednesday,
j A pr. 15.

Thursday,
Apr. 16.

Friday,
Apr. 17.

[V o l . L X ir

STOCKS.

Sales of
J the
Week,
j Shares.

I, IS 9 8 .

Range for year 1896.
L ow est

H ig h est

A c tiv e 1C1C. S to c k *.
1630 16*2 16% 16% A t.Top. Ac S.Fe, all Inatal, paid 10,600| 1 2 % Jan. 7 1 7 % Feb. 24
15% 16%
16% 10%
15% 15%
1638 16%
24% 25%
6,546 19% Jan. 7 28% Feb. 24
25^
1)0, prof., when issu ed..
24 % 25%
25
23 % 23%
25:»9 25
23% 24%
200
% Jan, 7
% Feb. 6
%
%
50
'%
*%
% A tlantic <fc P a c ific ...................
“a
*%
*S
%
*%
%
2,830 13 Mar. 6 44 Jan. 27
18% 18% Baltimore <&Ohio....................
18% 18*a 18% 19
18% 18%
18% 18%
18*4 18%
377
231«
22%
23^
20% 31ar. 25 24% Feb. 20
22% 23% •22% 23%
22% Brooklyn Rapid Transit........
*21 >a 2 2 % 21% 21%
600 52 Jan. 4 59% Feb. 11
*55 is 57
50% 56%
*56
57% 57%
58% 58% *5930 61 Canadian P acific.....................
2,552 45% Jan. 7 51% Feb. 10
49% 49% Canada Southern....................
5030 50%
50
50
49% 50%
49 M 49>a 49% 49%
1,949 94% Jan. 7 109 Feb. 5
1057s 1057e 106% 107% 107% 108 x l07% 107% 10034 10 714 107 107 Central o f New Jorsoy............
4 14% Jan. 9 15% Feb. 15
16%
15
15
*14 >4 15*4 *15
*15% 16% U SH 1 0 % *15% 16% Central Pacific.
2,875 13 Jan. 7 18% Feb. 10
16% 16% Chesapeake
~
16
ln %
16% 1630
16*8 16%
* 1 5 % .........
& O h io............
16% 16%
154 159 Chicago & A lto n .................
155 Apr. 2
*154 159>a 154 159
155 Apr.
154 159
'154 159
154 159
78% 79301 7 9 % 7959 7914 7934 78% 70% Chicago Burlington & Quincy 40,088 71% Jan. 7, 81% Feb. 10
777s 78*4 78% 79
700 40% Apr. 1 3 1 43 Jan. 18
42% Chicago & Eastern Illin o is...
40% 40% ‘ 40% 42
•41
42% *41
•40% 41ia
40% 41
\
C)4) ' ........ 99
'.........10O
.......... 100
l)o
pref.
98 Jan. 23 100% Mar. 5
r........ 100
......... 100
76
763g
76% 77% Chicago Milwaukee & S t Paul 62,930 63% Jan. 7\ 79% Feb. 24
75% 75ia 75% 76%
76% 76% *7650 77i0
857 125 Jan.
Do
pref
125% 125% 125% 126% *125% 126% 126% 126% 127ie 127% 127 127
'
7 130% Mar. 2
4,601 94% Jan.
105% Feb. 11
103% 103% 103% 103% 103% 104%; 104% 101% 10410 10430 103% 101% Chicago & N orthwestern----60 142 Jan.
Do
pref
147 Mar. 6
*145
147% 147%
145% 145% *145
7130 72
71
71% Chicago R ock Island & Pacific 20,533 62 Jan.
74% Feb. 24
70% 71%
71% 72
71% 71%
71% 72
1,060 31% Jan.
42% Feb. 24
39
39%
39% 40% Chicago St. Paul Minn. & Oni.
*37
39
40% *39
*38% 39% *39
40%
305 117 Jan.
"122 123
Do
pref.
*121 123
124% Feb. 25
121% 122
121% 121% 122 122 *122% 124
2,543 31 Jan.
35% 35% Cleve. Cincin. Chic. & S t L ...
39% Feb. 10
34% 35
35% 35%
35
35%
35
36%
36
36%
100 85 Apr. 16 90% Feb. 20
*85
87
*83
86
Do
pref.
85
85
*85
87
*85
87
*85
87
300 15 Jan. 7 18% Jan. 23
16% 16% *16% 17% Columbus H ocking Val. & Tol
16% 16% *16% 17%
*16% 16%
16% 16%
*50
60
*50
60
Do
pref
*50
60
*50
60
*50
60
‘ 50
60
990 119% Jan.
*126 127
127 127 D elaware & H u dson.............
129% Feb. 11
127% 127% 127 127
126 126% 127 127
518 155% Jan.
*159% 160
164% Jan. 31
159% 160
159% 159% 159% 159% 159% 159% DelawareLackawanna&W est
276 12% Apr. 16 14 Feb. 4
1230 1230 "12
12% 12% *12% 13%
•12
13
13 Denver & Rio G ran de.......
*12% 13
3,040 40 Jan. 7 51 Feb. 24
Do
pref.
*46% 48
47% 47%
48% 48%
48% 48%
47% 47%
47% 48
1,577 14 Mar. 24 15% Mar. 12
*14% 15
14% 14%
15% 15% E r ie ............................................
15
15%
14% 14% *14% 14%
2,157 37 Mar. 24 41% Mar. 17
40%
37% 37%
Do
1st pref.
40% 41
39
39
37% 37%
38% 38% 39
413 22% Mar. 24 25 Mar. 16
24%
22
22% *22% 24
*22
Do
2d pref.
22% 22%
24
24
23
24
286 25 Jan. 15 34% Feb. 24
31
*30
31
31 Evansville & Terre H aute___
*30
33
*30
31
>30
31
31
31
100 108% 31ar. 13 111% Feb. 14
110 115
111% 111% 111 115 Great Northern, p ref..........
*110 115
110 115
>110 115
70 89% Jan. 8 98 Jan. 31
96
*94
97
96
96
*95
96%
95
95 Illinois Central...............
*94% 96% *95
558
9%
9%
9%
9
9%
*9
*9
9
9%
9% Iow a Central........................
7% Jan. 7 10% Feb. 7
9
9
650 25 Jan. 6 37% 3Iar. 31
37% *37
36% 38
*37
Do
pref.
37%
37% 373s 37
37
36% 36%
100 17% Apr. 11 22% Feb. 5
17% 17% *17% 19
*18
20
*17% 19% ‘ 18
*18
20 Lake Erie & Western............ .
20
341 64% Jan. 7 75 Feb. 7
Do
pref.
*70
71% '69% 71% *69% 71% 71% 71% 71
71
71
71
1,507 134% Jan. 7 150 Feb. 25
147% 147%' 148 148
147% 143
147% 148% 148% 148% 147% 148 Lake Shore & Mioh. Southern.
711 80 Apr. 17 84 Jan. 7
*81
84
81% 81% *81
-81
84
x8C
80 Long Island.........................
81
81
84
34,534 39% Jan. 7 55% Feb. 24
50% 50% 50% 51% 513s 52
49% 49%
49% 50%
50% 52 Louisville it Nashville.......
25
*8%
9
•-*8% 9%
*8%
9% Louisv. New Albany & C hic..
*8%
9
8%
8%
10% Feb. 18
7% Jan.
*8%
9%
2,235 16% Jan.
21
21
20
20
Do
pref.
*19
20
19% 20
20%
21
24% Feb. 13
20
21
110% 110% 110% 111% 110% 112% 111% 112% 111% 112% 108% 111% Manhattan Elevated, con sol.. 11,983 96% Jan.
113% Feb. 11
816 92 Jan.
*102% 104%;*103% 104% 104% 104% 105% 105% 10550 105% 10534 105% M etropolitan Traction..........
108 Feb. 6
1,496 93 Mar. 23 97% Feb. 11
*92% 93%
93% 95
95
95 Michigan Central.................... .
*95
97
96
96
*19%
20
1,100
*18% 20
20%
20
*18% 20
Minneapolis
&
St.
Louis.......
.
20
20
20
20
17 Jan. 8 21% Feb. 21
*78% *0
430 72 Jan. 10 83 Feb. 21
‘ 78% 80
Do
1st pref
*79% 80
79% 79% 79% 80% *79% 81
52
1,850 40 Jan. 7 53 Feb. 26
*50
51
50
51
51% 52% *51% 52%
51
Do
2d pref.
52
52
12
12
172 10% Jan.
*11
11% 11%
12
11% 11%
12
12 Missouri Kansas & T exas___
13% Feb. 21
*11% 12%
26% 27
5,720 22 Jan.
26% 26%
27
27%
27% 27%
Do
pref
27% 27%
26% 27%
31% Feb. 25
24% 24%
24% 21%
24% 25% 25% 25% 2530 26%
25% 26% Missouri Pacific...................... . 23,610 20% Feb.
26% Apr. 17
*22
23
*22
*22
23
*22
23
23
*22
23 M obile & O hio............................
*22
23
25 Jan. 11
21 Jan.
75
*68
85
*68
*68
85
85
85 Nashv.Chattanooga&St.Louis
*68
*68
85
*68
45
*40
*40
45
1........ 48
48
48 N ew E ngland...........................
48
43 Mar. 23 51% Jan. 28
*96
97
1,992 93% Jan. 7 99% Feb. 10
96% 96% 96% 97
“9 7 ” 97% New Y ork Central & Hudson.
" 9 7 ” 97
'9 6 % 97
14% 14% 14%
*14
14% 14%
*14
*14% 15
750 11 Jan. 2 15 Jan. 22
15 New Y ork Chicago & St. Louis
15
15
79
*75
82
■76
79
80
80
235 71% Jan. 17 80 Jan. 22
82
*79
*•78
Do
1st pref.
78
78
34% 35
34% 35% 34
34%
34% 34%
34%
34
4,120 26 Jan. 17 35% Apr. 13
Do
2d pref.
34% 31%
*174 176
176 176
175 179
174 176 New Y orkN ew Haven & Hart.
174 176
8 175 Jan. 7 186 Feb. 10
-174 177
*14% i4% : 14% 14% 14% 14%
1434 14%
1,225 12% Jan. 7 15% Jan. 31
15 New Y ork Ontario & Western.
15
147e 14%
8%
8%
8%
8%
8%
8%
8%
8% New York Susq. & W est, new.
8%
1,325
8 7s
8%
8%
7% Mar. 26 11% Jan. 31
22% 2 2 % 23
24% 24
24%
23% 24
23% 23%
2,215 21% Jan. 7 31% Feb. 6
Do
pref.
24% 24%
%
%
30
30 Norfolk & Western
%
%
3,685
%
%
%
3 Feb. 21
%
%
% Apr. 14
%
5%
530
530
5%
5%
5%
5%
5 78
5%i
Do
6
5%
5%
2,118
pref.
9% Feb. 5
5%: Apr. 4
1%
130
1 % Northern Pacific
1%
1%
1%
24,279
1%
1%
1%
1%
5 Jan. 30
1%
1 A pr. 8
1%
10% 11
11 % 11 % 11 % 11 %
10
10
10%
10 %
Do
pref. 11,410 10 Apr. 16 17% Mar. 9
10% 10%
24
‘ 19
20
20
22
22
*22
*20
25 Oregon R ’y & Navigation Co.
*22
28
452 10 Feb. 18 22 Apr. 14
28
3%
3%
3%
3%
3%
3%
4,814
Oregon Sh. Line & Utah North.
3%
3%
8% Feb. 24
3% Apr. 14
* 10 %
113t 11 % Phila.& Reading lstin st. pd. 36,558 *2% Jan. 7 15% Jan. 31
12% 13
I 0 7e 10 % 12%
12% 12%
11% 12%
17
*15
17
*15
17
-15
18
*16
17% Pittsburg Cinn. Chic. & St. L.
*16
17% *16
14% Jan. 7 18% Feb. 7
‘ 55
57
*55
57
57
57
57% 57%
Do
pref.
57
57
57
*56
240 52 Jan. 8 59 Feb. 27
15
15
15
15
15 Pittsburg & W estern, p r e f...
15
17 Jan. 15 20% Jan. 31
Rio Grande W estern.............. _
16 Feb. 8 18% Feb. 10
116 116
116 116
114
Rome W atertown & Ogdensb.
115 115
114% 116
121 114 Mar. 3 0 1 1 8 Jan. 3
*58
61
61
'53
*58
61
60 St. Louis Alt. & Terre Haute.
60% *58
*58
61
*58
57 Jan. 29 60% Jan. 3
4%
*4*2
5%
5
5
5
5
5
5 St. Louis Southwestern
4V
715
*4%
5%
4 Jan. 7| 5% Feb. 7
10 % 10% 11
11% 11%
11%
11% 11%
11% 11%
11 % 11 %
Do
pref.
1,512
9 Jan. 6 13 Feb. 26
*24
26
28
26 i *24
28
24
*24
*24
28
28
28 St. Paul & D uluth....................
100 25 M ar 12 27% Feb. 24
*87
91
91 1 >87
*87
91
91
'87
91
*87
Dopref.
*87
91
110 90 Feb. 4! 91 Feb. 10
•111 114
'111 114 ■111 114
109% 113% *109% 113% St. Paul Minn. «fc M anitoba...
109 113
110 Jan. 22 115 Jan. 11
19% 19%
19% 20%
19% 20%
19% 19%_ Southern Pacific C o.................
19% 20
19% 20
2,490 18*9 Mar. 24 22% Jan. 14
*9
9%'
9%i
9%
9%
9%
9%
9
9%
9%
9%
" %;Southern,voting trust, certif.
9%
5,188
7% Jan. 8 11 Feb. 6
29% 29%
29% 30%
30
30%! 30
30% 31%, Do pref., voting trust, cert. 15,735 23% Jan. 7 33% Feb. 25
30% 30% 31
*8
8%
8%
8*2
8%
8%
8% Texas & P acific........................
8%
8%
8%
8%
8%
1,755
7% Jan. 7
9% Feb. 25
*33
40
*35
40
*35
40
*35
40
*35
40 IToledo & Ohio C e n tr a l..........
40
35
*76
76% 81
*76% 81
77
*73
77
*73
73
77
Do
pref.
8%
8%
8% .8 %
8%'
83g
8%
8%
8%
8%
8%
8% Union Pacific trust receip ts.. 10,761' 3 V J a n . 7 1 9% Apr. 7
3%
3%
*3%
*3%
4
4 I *3%
5%
5% Union Pacific Denver & Gulf.
120
3*9 Jan. 7
5 V Feb. 13
*6%
*6
6%
7%
6
%
6
%
7
W abash....................
7%
*6%
*6%
7%
315
6% Jan. 7
7% Feb. 24
18% 18%
18% 18%' 18% 13%'
18% 18%
Do
pref.
6,207|
14ig
Jan.
7
19%
Feb. 24
9%
9%
9%
9%
9%
9%
9%'
_ w 9% W heeling & Lake Erie.
9 7e
9%'
9%
9%
6,236
13
V Feb. 14
8%
Mar.
19
*321g 36
36% 36-2 35% 35% *32% 36
35% 35% *34% 36 I
Do
pref.
210 31% Mar. 19 40% Feb. 13
2%
2%
*2%
3%
*234
*2%
3
3 [Wise. Cen. Co., voting tr. ctfs.
50 j 2% Apr. 2 ^ 4% Feb. 24
i .........
I M i s c e ll a n e o u s S t o c k s .
*14*4 15
14% 15
*14% 15
14% 14%
14% 14%
12
14% Am erican Cotton Oil C o........
4,100
12 Apr. 17 19 Jan. 27
*60
59% 597e 60
62
60
59% 59%
60
60
54%_
60 |
Do
pref.
6,117 54% Apr. 17 69 Feb. 11
119 119% 119% 121% 12134 122%' 122% 123% 123% 125% 123 125% Am erican Sugar Refining Co.
215,364
Jan. 7 12578 A pr. 16
97
101
101 % 101 102
102 102% 10230 102% 10234 103% 102% 103 j
Do
pref.
3,808 95 Jan. 6 103% A pr. 16
83
84
83% 85% 84
8 6 % ! <68
85%
68
69%
67% 69% A m erican Tobacco Co............ 98,984 T67% Apr. 17 95 A pr. 2
100% 100% 100 100%
99% 99%' 100% 100% *96 100
*95
100 |
Do
pref.
655 99% Apr. 14 103 Feb. 13
68% 68%
68% 69%
69% 70%' 69% 70%
69
69%
68% 69% Chicago Gas Co., certs, o f dep. 50,815 62 Jan. 7 70% A pr. 14
153 153
154 155
156 156% 157 157% 157 157
157 157 Consolidated Gas Com pany..
2,471
143 Jan. 7 16178 Feb. 10
17% 17%
17% 18%
18% 18%
18% 18%
18% 18%
17% 1 8 % Dis.&C.F.Co.,tr.cts.allins.pd. 18.965 14% Jan. 7 19=8 Feb. 10
37% 38%
37% 38%
38% 38%
37% 38% 36% 37%
37% 37% General E lectrio C o ............... 28,326 22 Jan. 6 39 ig Mar. 13
70
*68% 70
*63% 70
*72% 75
71*2 72ia 75
*72% 75 Illinois Steel C o ......................
2,315 60% Mar. 27 75 Apr. 15
*24% 24% 24% 24%
25
25% 2 5 7a 25% 2734 27% 28% National Lead C o....................
25%
6,600 22% Mar. 7 28*2 Feb. 10
88
83% 88%
88%
83
38
89
90 >4 89% 90% 91
91%
Do
pref.
1.178 82% Jan. 7 Ol-e A pr. 17
*5%
5%
5%
5%
5%
5>4!
5%
5%
514
5%
5%
5% North American C o.................
2.395
4 Jan. 6
6-g Feb. 24
26% 26%
26% 26% 26% 27 V 27
27%
27% 2734 27% 27% Pacific M ail..............................
5,170 22% Jan. 7 31 Feb. 10
*120
120
123 ......... 122
122 ....
120
.........iPipe
Line
Certificates..............
156% 157% 157 160
157 160
158 158
158 159
159% 159% Pullm an Palace Car Company
426 148 Jan. 7 164 Feb. 11
*68% 68% ‘ 63
68% *67% 68*4 *67% 6 8 ig *67% 68% *67% 68% Silver Bullion Certificates___
67% Jan. 8 70 Fell. 24
30% 31
30% 31% 31% 3 1 %; 31=8 317s 31
31%
30% 31% Tennessee Coal Iron & R R ... 16,424 23 Jan. 7 34% Feb. 10
....................
Do
pref.
4%
4%
4%
4 7u 4 V
5
5%
4 7e
5
5
4% 4% U.S.Cord.Co.,tr.reo.all lne.pd.
1,470
4% Mar. 24
6% Feb. 7
9%
9%
9%
9V
9%
10
3V
*9% 10
9%
9%
Pref., tr. reo. all Ins. pd.
853
8% Mar. 24 12% Feb. 7
*8%
9%
8%
9
3%
9%
8%
9
r* 9
8%
8% United States Leather Co.......
1,791
8%
A
pr.
16
Feb.
11%
61% 61% 61% 62 | 61 *a 6 2 V 61% 62
61% 61%
60%
61%'
Do
pref. 22,738 56V Jan. 9 69% Feb. 148
*27
27%|
26%
*■*‘
*** id| A
, *H i.
27I
*26
2 7 V 26% 27%
26% 26%
26% 263i United States Rubber C o.......
1,645
22%
Mar.
6
29
Jan,
13
83*9 8 3 V 83% 84
837e 8 4 131 84% 84%
84% 84%
84% 84% W estern Union Telegraph___ 11,314
87% Feb. 1 0
* These are bi l and asked; no sale made.
J Lowest is ex-dtviden l a-i l 3 :rlp.
t Before payment of any InstaUnen*.

THE

A pril 18, 1896.]
it*

C H R O N IC L E .

;. <

.it
April 17.

ISACUVIS STOCKS

Range (talas) in 1896.

Ask.

Bid.

f Indicates unlisted.

i i t 11 - / V l •' '''( '* 7

715
' i i'i l a itst uicti 11 sales, J

IP i JK s.

A pril 17.

I n ac tiv e stocks .

Lowest.

Bid.

? Indicates unlisted.

R a i l r o a d S to c k * .

175 Mar. 175 Mar.
..100 175
9
10% 9 Jan.
11% Fell.
25% 27% 24 Jan. 29% Feb.
7
7 Feb.
3
7 Pel).
B all. A 0 . 8 . W. [Ire'., new . -.100
131% Jan. 131>3 Jan.
B jllavlUa A Son t o. til.. ipref.. ..100
..100 102 101
13
15
....
10 Jan.
17 Apr.
g. 100 116%
55
..100
Preferred..
70 Mar. 70 "M ar.
-.100 70
S3 Jan.
C i o . Lorain A Wheel- pref.. ..100 152% . . . . . 41 ^ Jan.
155 Jan, 161>s Mar.
160
;7
5% Jan.
8 Feb,
..100
45
P referred ...
53
.5
6 jan.
fi.io o
5% 4% Apr.
Diluth so. She
..100 tlO% . . . . . 10% Apr.
11% Feb.
Preferred 15IV
55
-16 Jan.
50 Feb.
. . . .50
15% 13 Feb. 16 Feb.
33
37 Mar. 13 Feb.
42
37
Preferred. .
85 Jan.
85 Jan.
..100
27% 25 Jan. 25 Jan.
.100
8 Jau.
9 Apr.
..100
2 Jau,
3% Mar.
2% 4
13% 15% 15 Mar. IS Feb.
Preferred.
100
H
9 Jan.
13 “ Feb.
-.100
9% n
2
1 Jan.
1
2% Feb.
___ _ _ 160 Apr. 166% Feb.
dor.-U A Essex...............
..100 ........ . . . . .
Sew Jersey A N. Y-----.,100
Preferred— .......... .
115% Jan. 120 Jan.
..100
S. Y. Lac it. * estj.ru..
, ....
7*6
..100 60
Norfolk A Southern____
15
5
2
2% Jan.
4
3% Feb.
Peoria lie- .itur A EraasrBle. -100
5
3 jan .
0
5% Fen,
Peoria a Eastern.................... IV.'
182 Feb. 182 Feb.
182
Bstissslaer A 8ar»to«r»...........
- f# R
39 Js*.
40% Feb
ino
«%
5 Feb.
5% Apr.
5%
....
..100
10
17
• » o price F rid a y ; latest p rice this weekI A ctu al sales.
Preferred.. ...

S lla c e lla n e o n s S to c k * .
Adams Express.......................... 100
American Bank Note Co f __
American Express..................... 100
Am. Spirit Mr's.’ . Co (when issued)!;
. Preferred (when issued) 1T...........
Amur. Telegraph & Cable........ 100
Bav State Gas 1i........................ 50
Brunswick Company................. 100
Chic. June. Ry. & Stock Yards. 100
Colorado Coal & Iron D evel.. .100
Colorado Fuel A Iron............... 100
>: Preferred................................. UK)
Colnmbns A Hooking; Coal.......100
Commercial Cable............
100
Consol. Coal o f Maryland____ 100
Detroit Gas................................ 50
Edison Elec. IU. of N. Y ........... 100
Edison Eire. 111. of Brooklyn., 100
Erie Telegraph A Telephone ..100
interior Conduit & Ins..............100
Laclede Gas.................................100
Preferred............
100
Maryland Coal, pref................... 100
Mtehlgan-Peulasular Car C o.. .100
Preferred.................................. 100
Minnesota Iron...........................100
National Linseed Oil Co........... 100:
National Starch Mfg. Co......... .100
New Central Coal........................100
Ontario Silver Mining................100
Oregon Improv't Co. ir. reels . 100
Pennsylvania Coal............ ....... 50
Quicksilver Mining.................... UK)
P referred-......................... ...1 0 0
Tex*.a Pacific Land Trust........ 100
Ji0,8. Cord.igef guar., tr. certfs. U-0
O. 8. Express..................
100
O. 8. Rabber preferred............. 100
Wells. Fargo Express............... 100

1906

Bid-

Ask.

.......

110

SECURITIES.

Bid.

Funding s e t ............................1900

New bond-, J A J ........ 1892-1898

7s. Arkansas Central EK.......
Louisians—7 e , eon s
_____ .,.314
Stamped 4 s ............ ....... ............. .
New eonol*. 4 s . . . . . .............1914

93% 96
21
19
“8

91 Jan. 95 Feb.
18% Feb. 23% Mar.
% Feb.
% Feb.
.....
95=s Feb. 96% Feb
4% Jan.
2 Apr.
2%
31
130
34% Feb.
23% Jan.
100
94% Feb. 98 Feb.
2%
3%
1% Jan.
4% Mar.
158 163 162% Apr. 162% Apr.
32
SO
30 Mar. 31 Mar.
536
26 Apr. 27 Apr.
97
99
89 Jan. 98% Mar.
"is "

"ir "

Ban cs .
<00* omHwtd.)

[

82
40

SB3 HRt
SfS

- Maw fcBttISSB

*«5
m

m

d£*

m i

?:S!11

lisp

»1

H

5 i T^?7 iin s iG immvA'B&smm

62% jan.
35 Feb.
29 % Mar,
86% Apr.

59 % Feb. 60 Feb.
53 Jim, 72 Feb.
15 Mar. 20% .Tan.
6% Feb.
4% Jan.
6
7 % Mar.
8% Feb.
8%
14% 15
15 Mar.
8 Jan.
4% Jan.
4
l
■2 Mar.
325
320 Apr. 326 Apr.
2 Jan.
1,% Mar.
1%
2
69% 70
118% .
8
5

.........

15

119
140
42%
186%
100 103

5
17
38

I?

7 Feb.
Jan.
Jau. 24 % Feb.
Jan. 48 Mar.
89 Jau.
Jan.
Jan. 101 Feb.

IT .

Bid.

Ask.

85

86

60% 607fl
4%
6

N ew f o r k C it y , Boston and P h ila d e lp h ia B a n k s :
t

’
T
Specie. Legale. Deposits

Bsnk of N*w York.. «J,0O0,O *1,954.3 *13,100.0.*1/.’ *0.0 Y i .v k u . iv n io - o
H«E^Mt»oCo.wawww^ *,0*0,0; 3.09*0 l& a m fj
3.MM* 14,152.0
Merchants'..*^
1.610. t 9JISJ
1.040.0 7.351,0
Mechanics’
Aaserte*.,
2,9000 1-1 .U4.i
720,0 3,162,0
Fb«a ll,.,..
3.2* 3.9 29,799.6
f.o
,78.3 1.856.0 181,-2
248,4 UWI.t
Chemical .
'.0 17.423,1 aj.89S.« 3,783,0 3.967.3 22.873,6
158.7 3.900.0 764 8
Merchant*
411.»: 4.324%
S S * ~ £ : ,0
,1 -a*4*4
715.3 4.286.3
MaUaUn National,... 1,
‘
1.864.9 8,913.1' 575.1*
Batchers’A Dro^em’ 3w .o
921.4
1,461.0 200,3
142 7 1.4 47.4
175,0
Mechsa-lcs* <* Trad's
400,0
3-27.8; 2.31 1,0
-----Sreenw tch. . . . ------200,0
179,-2;
947.7
Leather M anofaces'
600,0
3.031.4
*M,*7 \ f»l|
•wreath N ational...< 800,0
1.044,0
State of New York . 1*300,0
W4.4 *.451.1
i
American Exchange
. . . *,000,0'
. .. a,48d6 2V 157,0
3 ,213*0 17,092.0
Commerce..
t T * 3,636.1. 15,6/7.8
Broadway,,
838.4
791.6 4,679.0
0SO.O 8.825.0
Mercantile
692.8’ 1.042.6 6.042,4
f c : : z
!:g |
433.8
Pacific...
4610
2.907.8
1C.............. 1,600,0
____ io:i51'*
. ...
1.305.7 10,632,0
763.5 6.474,5
289.4 2.431.9
754 3 5,187,0
i !
B
f f l
000,0
l ! i » l 3,ham 4 .687.8 10.382.4
486.0
2,970,0
J.C-90.0 352,3
2.577.8
651.*
2.099.9
3.419.8
177.7
877-0 4.140.2
401*3 3.109.2
,000,0.' 1.145,1
8030
8.885.4; 1,21.5.0
.. Kxebar.c*..
1,210,3 i
BttBBntal— - ......
45.223.8
1,781.0
m
4 * ii
. . . .
...
.lent*! - ..............
2.537,0’ 10,439,0
BportarvJkT reder*'
6,329.» *8,116,7
Park........................
350.0
135.7 1.175,8
117,1
*00.5 1 078,2
East R iv e r ............
Fourth National---- --------- 3,008.9 18,971.7: 1,514.7 9,790,9 18,299.7
474.0 8.384.9
136,0 2.498.0 #.3J4.0
0*Btr*i Naltseil---- *.#37.0: 8S8.0 1.181.0 0.210.0
Second National
3W.9 3.102.4
313.0
Ninth N ational....;
4t2.3 3,*07.4
7.1*8,0 *9.177.8
MM,*- 4.307.3 *0.242,9
Flw* National,. .. a.
9-15.2 7.977,1 1.4 48.8
784 ,K
6.924.4
Third Nation*?......
73.7 1.531.5
157.0
1.480.4
N.Y.Nat, 1 * « u » f »
3.127.0
571.7 2.786.0
188.0
Bowery
0.0
It? )
425.3 2.949,8
675.0
New York Count*
IBi.lS
384.2:
2*1#.d 2.787.1
801.0:
IMumaii Amen one,. 750Ji
0,0 1,339.8 14.923.9’ 1.695,3 2.080,2 17,684,5
Ch»*»N»'!oji»i....... ; 500,11*137.8' 4225.0
100,0 1,085.2 7.315,0. 1,010,7
Flfih Avenue..,.
•
2 00.0
673.7 3,175.2
Gnrmen Rxehan* '-I
895,6 2,646.7
2*111.4
3,85*4,H
Herasni*----- -—
........ 8.8*4,»; 587 8
5,69 M
Coiled State*.........(
544,4 4,909,8: 1,013.3
Lincoln........
766.5 i M t 0,758,0
591.1 5,9:10,8
351-7 4.888.4
rld.. . . . — ....
*45.2; 4.11K.0 SOM
» ..
353-0: 1.033.8
900.0
212,0
*10,8: 1,743,8
Nations).......
300.0. » 5 ,5
1,130*8! 6.009.0
453.0; 2.447.0
of 'he Sfirtrop.
900.0 #06.0 i$ 2 $ to*;’
500.0
250,0
800*0 0.972.0
934.6
West Bids,........ ..
fct.bnerd....... .......
1.520.0
200.0
220*0
mm
307.5 n'J97-h; m i 2.8514 11.7.133
Sixth MaHonsi...... '
W»«t«rn N*rton»t..: 30O.0; &mrB 5.170,0
501*0 .6,337.0
WS3
First.Nat, BPklyn.
432*4 1.718J
500.0
522.5 1,937.1
40,4
£>05.0 7M4«,4
Sent hern NstlOnsl..1.200,0
1,4 45-0 7 381,9
404J
500.0
LlhertT
Nat,
Bank.
175,7 l>p.;.7
*•$. Onloo
Bank
440-3 1.789,7
17,1
203,5; 2,900,8
N#T. .Trod. E xch'r«. j l,0oo,O
320,2.
mm

60

58% Apr.
35 Feb.
18 % Jan.
78 Feb.

3s...................................
1913
Redemption 4a,.............1 9 0 7
do
4%s.................. 1913
Penitentiary 4 4 » ................. 1913
Virginia funded debt, 2-3S ...1991
6s, deferred t'st reo'ts, stamped.

Consolidated As..................1 8 1 0 105
6 *..............................................1919 124
-- ---South Carolina—4%s, 20-40..1933, 1C6
” 97% 88%
<;«. non-fund.......................... 1888' ..........

:
' 1
cap ita l Surpi i Loans,

27 s
84

Compromise, 3-4-5 6 s .......... 1912

Special tax, Claw 1 ....................

N e w f o r k C i t y B a n k S ta te m e n t fo r the w eek en din g
A p ril 11, 1886. W e omit two ciphers (00) in all cases.

Highest

Tennessee-6s, old---- 1892-1898
6», new b o n d s —
1892-8-1900
do
new s e r ie s ..............1914

Chatham H R ................. ...............

do. Non-Ho)foul

Lowest.

SECURITIES

Ask.

MUMOrt—Fund..............1394-1895:
North Carolina—8s, old.......,.JA J

Range (sales) in 1896.

1149*4 150 146 Jan. 150% Feb,
41
39
1111% 114% 110 " j a n . 115 T a n

N E W T O R E ST O C K E X C H A N G E P R lC E S .-S T g iT O B O N U S A P R I L

SECURITIES

Ask.

Leant.

Legilt.

Sptelt.

DtpotUt.* [ 0lrc7*n. C'Jrartnw

■ Is

518,950,6

) 181526,0 8 >315,1
0 487,888,8 *8,516,8
) t-H.BOa.l 58,031,9
1 485,221.9 59.251,8
0 485,812,4 58,835,0

88,058,1 489318.5
81,511,8.488,038,1 ;1
7»*76»,4 482,215,5
78,203,3 481,71)5,7 4,254,5
79,884,1 483,151,4 4,341,3

t i m
527,449,1
5*24,401,1

S 158,.17#,0 8.729,0
s 158.897,0 8.531.0
S 159.218,0 8.494,0

5.512.0 180,784.0 9.818.0
5,214.0 13«,8l#.0 0,802,0
5.887,0 138,157,0 9.898.0

70.900.6
95,056,1
91.497.7

3 103,193 0
37,801.0
88,213.0 3.681.0 58,208,3
58,720,a
3 103,581,0
27,000,0
08.137,0
1 103.880,0
28.2*0.0
100.218.0
82.504.7
• Wt emit two cipkfrx <r» xfl that Sgtirte. t Inaladlng for Boston and Phil*
dalphls lh « U«m - das to othsr bsnks."

Miscellaneons and Dnllsted Bonds :
M tsoelta n eoss B ond* i
Biwton tin. us» tr xiort*., o s. . . . . .
Ch. J on.A H. Yds.—Col.t.g.,6s .......
COL C. A I. Dersl. go. 5s..... J ........
Coiors.li* Fuel—Sen. fls.........! ........
OoL A Hock. Co*l A I ,-8 s , «.! ......
Con».OssCn..Chlc.-l»tKU.5, 8:4 %b.
Consol. Cos! oonv. 6 s ....___
95 b.
Bet. Gascon. 1st 5s...............
?8%b,
Kdlsou B le a .lU .O a .-lm 6 * . *106*tb
lstoonsol., gold. 5s................*102 b.
i)o
of Bklra,, 1st 5«___ 107 a
Eqult 0 ..lA ,N .V ..oon».*.5«., ...... E<ialt»ble 0 . A F .- l s t 8 s . . 97%»
Henderson Bridge—1st g. « » .,- I l l b.
Illinois Steel dob. 5»...... . ...! .......
Non conv. dob 5 * .............. ! . . . . .
loL C om L A Ins. deb. 6 , ...... . . . . .

N0m —**fe"

M leoellw n eon e Monde.
MsnhsA Bench H. A L. g. 4s.
Metropol. TeL A TeL 1st 5s.,
Mioliu.Ponln. Car 1st 6»......Matnnl Union Telag__fs g..
N- V. A N, J Telop. gen, S».,
Northweetern Telogrnph—7».
People's G w A O. l is t g. 6s.
Co., Chicago---- ! 2d g, 8s.
1st cons. g. 8a............ ........
Pleas. Vslloy com -1 st g, 8s,
Monday Creek Coal 1st g 6s.
U, 8. lAiathor—8, f,d*)b.,g.,8s
Western Union Tiling,- < . . .
Wheel.L.R.APlt»s Coal IstSs
U nlisted B onds.
Am. spirit If fg.,lst,when Iss
Oomstook Tnaael—tnc. 4 s..

-107%b,
io T 'b .
-105 b .
## b .
io o ’ D.
112 b.
07 b.

8 b

prio® bid; *a ” pno« mk&t* * Latart prio® this w##te

B a n k S to ck L is t — Lateat prices this week,
(*N ot liated.)
HBANsre: I m
A,®k. •I b a n k s . Bid. Ask.
b a n k s :. Bid. |A «k
Araerlc®.....
0»rfioii1........ 425
N Y.Nftt.Bx
Am. B xch ...
Ninth.........
172 iGerman Am. o n
Bowery*.... -.275
19th WarO..
ClortnAO Ex,* 380
Broadway ... m o 235
mo
H. Amariea.
Bat<?hs’<fel>r,
Orient M ___
145 Klreenwich .. 176 190
Ceataal ......
Pacific,.___
; Hamover...... 312
Park............
O h a se.......
jHnrt, River,, 150
Chatham .... ISSS
i 1m. A Trad’ft* 535 545
People's ....
Pboulx.......
ir r in * .......... 137 %
OhemtcuiS
Prwl. Bi.*..
C ity .............
i fleather Iffs'
175
d ttte o «r. ... 130
! Lincoln . . . . .
RepnbUo__
Seaboard ...
Columbia ... 118-5
I ManhatUn 207 210
... Second........
Qvmrmfm.., 201 IS1 1; Market A Pul 200
Continental, lisa
tMechanioe'., 191 192
<&Tr*' 125 140
Corn Eroh. 285 295
1£m% River.. 138 1140 Mercantile 105 175
lH h Ward- 200 J .... Meroh .„ts '.. 133 137

W

i?3

Fifth

.

Fifth*_____ 250 275
First, ... ... 2850
F1rot* N„ 8 T 115

Uih Street. 170
Fourth

..... 180

10^mX' 483,1 M."4 Qaliatln _

295

190

3O0

Meroh'fes Ks
M etropolis..
Mr, Morris-.
3. i *«m .— .
:f. Ams'dara
Now York ...
v v fW ntr

110
415
115
145

800

130
240

THE CHRONICLE.

716

BOSTON, P H IL V O E L P K IA
S h a re

Active Stocks.

f Indicates unlisted.
Atoh. T. & 8. Fe§(Bo*ton).100
Atlantic A Pac.
"
100
Baltimore A Ohio (B alt.).100
Balt. City Pass’ger “
2ft
Baltimore Traction 44
2ft
Baltimore Trao’n1I(/7itL). 2ft
Boston A Albany (Boston). 100
Boston A Lowell
"
100
Boston A Maine
44 100
Central o f Mass.
“
100

15%

15%

15%

“66

16
19%

*17% . . . .

....

AN D B A L T IW O R E STOCK E X C B A N D E S

P r ic e * — n o t

Monday,
Apr. 13.

Saturday,
Anr. 11.

Tuesday,
Apr. 14.

P er

C en tu ra

Wednesday,
Apr. 15.

Inactive Stocks.

Bid.
96
262

A sk.

99
265

2%
“ l%
52
42
38
8
7
140 141%
240 250
23
162%
13
11
42
37
46
61
28
52
15
17
60
50
64
69%
54%
7%
30

86
8

33
20%

3
71
10
31
68%
68
90
89
239% 240
55%
21
2%
2%
3%
2%
15
112 118
70
9%
30%

M ISCELLANEOUS.

25
Alio uez Min’g, asst p df Bo#
**
25
18
Atlantic Mining.........
4
50
Bay State Gas H....... .
4
9V
3%
Boston Land..............
4
10
10 •15
Centennial M in in g...
4
25
1
Fort Wayne Eloct.1L.
4
11
Franklin M ining.......
4
25
5
Frenchm’u’s Bay L’d.
1
%
100 73
Illinois S teel...............
'
11
25
Kearsarge M ining....
'
25
25
Osoeola M in in g ........
'
100 158
Pullman Palace Car.
'
Pennsylvania Steel.. (Phila.)..100
100 28
Preferred U.................
44 100 58
25 123
Quincy Mining.........(Boston)
2ft 98
Tamarack M in in g...
44
Water Power.................
44 100
1
29
50
Westdngh. Elec, a M ..
44
50
63
Pref., cum ulative.
44

1
18*.

»v

4%
•50,
2
u*.
1
75
n%
26
15b
29%

Sales

P r ic e d .

Thursday,
Apr. 16.

Friday,
Apr. 17.

Week,
Shares.

Range o f sales in 1896.
Highest.

Lowest.

3,587 12% Jan. * 17% Feb. 24
18%
16*4 16%
16% 16*3
63 Feb. 24
...... •49 Apr. 7
%
**3
% _
13 Mar. 6 44% Jan. 27
18% 18*3 *18
19
185V
*18
18*3
65 Feb, 26 70 Jan. 2
*66
*66
67
*66
3,522 16 Jan, 7 19% Apr. 16
18% 1 8 * *18*4 18*3 18% 19% *187s 19%
4,658 15% Jan. 7 19 A pr. 17
1870 19
18% 18%
18% 1HV 18% 18%
133 204 Jan. 7 517 Jan. 28
*208
209
203 203
207 207% *207 208
202 Jau. 29 506 Feb. 27
*206 207
'206
*206
103 162 Jan. 30 .71 Feb. 19
*166 167
Ififi 166% 166 166 *166
15 10 Mar. 3 \ 12% Mar. 10
10% 10%
10% 10%
*10% 11% * ’ 0% 11%
140 53% Mar. 18 56 Feb. 28
*54
55
54
*54
55
51
*54
7,968 72 Jan. 7 81% Feb. 10
79%
79% 79*3 78% 79*4
79
787s 79%
11,300
64 Jan. 7 793s Feb. 24
76%
76V
77*8 76*3 77*4
76
70*s 765i
4 7e Anr. 8 12% Jan. 2
1,039
6%
6
6
6
6
6
6
6%
21 Mar. 3 30 J an. 2
435
24%
24%
24% 24%
25
25
25
25
120 89 Jan. 20 97 Feb. 10
94
94
94
94
*935i
93*3 94
842 34 Mar. 23 38% Jan. 30
35
35
3i>*s 34*3 35
35%
35% 33%
3 133% Apr. 1ft L36% Jan. 3
L36
*134
133% 133%
1,580
94% Jan. 7 108% Feb. 6
101%
106
104% 105
105 105*4 105*9 105%
1,485
8 7s Jan. 6 123s Feb. 24
10%
10
10
10
10
10
10
10
40% Apr. 8 51 Jan. 28
42
*40
*
4 77 Apr. 7 85 Jan. 28
80
*70
80
*76
80
♦
28 67V Jan. 16 70 Feb. 14
70
69% 69% *69% 70%
5 Feb. 28
1 % A pr. 8
8,128
IV
IV
1%
IV
1*3
1*3
1*3
IV
923
9% Apr. 17 1730 Mar. 9
10%
9 7s
10V 10*8
10V 107e 10% 10V
131 175% Jan. 0 178 Jan. 16
176% 177
177 177
176*3 177
*176% 177
2,454 50% Jan. 7 54% Apr. 17
54% 54%
537s 54%
53V 537p 53% 54
14,397
1 4 Jan. 10 77i« Jan. 30
5%
6
61,,
5 78 6
6*4 05j,
4,394 62 Jan. 8 72% Feb. 21
69% 70
69*3 70
69*s 69%
69% 69 4
312
9% Apr. 7
3 Jan. 23
8*3
8V
8V
8*H 84,
8%
’ 8*4
*8
15% 16*2 11,526 10 Jan. 8 16% Apr. 17
14% 15
147s 15** 15% 16%
16%

1768 17%
18% 18%
17% is * ;
17^4 17%
207 207
207 207
207%
206 . . . .
*165
13
10
54
54
55
preferred
44 100 54
Or e.B ur. A Quin.
44 100 78% 78*5 78% 79%
Qoio Mil. A St. P. (PAiZ.).lOO 75% 75% 75% 76%
6
6
6
6
Oho O. A G .vot.t.0.
“
50
23
a t . 8t.R y.of IndH
“
100 23
94%
93%
95
9ft
Fitchburg p re f.. (B oston). 100
35%
Lehigh V a lle y .. (P h ila .). ftO 31V 34% 35
Maine Central (Boston). 100 ....... - 134
M etropol’nTrac.lF (P hiC ).l00 103*4 103*4 1037a 103%
10% 10%
10%
Mexican Cent’l (Boston). 100 *10
43
New E n g la n d ....
*'
100 *40
77
77
77
P re fe rre d .........
“
100 *75
70
70 *
Northern Central (B o lt.). 50
1%
13g
1%
1%
Northern P a d 11c (PhUa.)lOO
11%
11
11% 11%
Preferred
*' 100
177
177
*176%
177
Old C olony....... (B oston). 100
53% 5 3 7s
P ennsylvania. . . (P hita.). 50 53% 53%
59ia 60,
Phil. A Reading.!
“
50 *55,8 57
69
69%
Philadelph Trao.
“
50 * 6 8 % 6 8 %
8%
8%
*830 8%
Union l*aciflo...fltosto?i).100
14% 14%
14% 14%
Union T raction.. ( Ph ila.). 50
IT IlftceilaneouM S t o c k s .
121% 122% 12278 123%
Am.Sug’r Refln.H ( Boston)---- 119% 119% 119% 121
102 102
102*2 102*8 103 103
101 101
P referred ........
“
202 202% 202% 203%
203 203
Bell T elephone..
“
100 202% 203
76A,
75% 76*v
76
75
76%
Boat. A MTontana.
44
25 73% 74*4
2
2
2
2
2
2*3
*1%
2%
Butte A B oston..
44
25
306
306
309
307 307 '3 0 5
Calumet A H ecla
“
25 306 308
Canton C o ...........(B a lt.).100
*64% 65% *64*9 65
65
65
Consolidated Gas
“
100 65
35%
34
35% 30
35% 36*,
33 Vi 34%
Elee.Stor. Bat’yfl(P /u/a.).100
353a
36
37 H
37
36% 36*3 37% 37%
Preferred 1J
44
100
60
60%
6 0 ‘*s
59*3 60*3 60
Erie T elephone.(Boston). 100 58% 58%
385,
37% 38*4
37%
38*4 38%
General Electric.
“
100 3778 38i0
*76
75% 75%
78
78
79
P referred .........
“
100 75*4 75%
19% 19%
19% 19% *19
19
19%
LamsonStoreSer.
“
50
42% 42%
42% 42% *42% 424,
42%
42
Lehi’h CoalANav. (Phila.) 50
90
( Boston) 100 90
N. E.Telephone (Boston).
11 % 1 1 %
12*4 1 27P 13*e 13%
n % 12%
Pa. Hea t ,L. A Po w (Phila,.).
69% 69*4
69*3 69%
69V 695,
50 *68% 69%
Unit’ d Gas Imp.
44
59
5S*3 59
59
59
58*s 584,
5 59
Weiabach Light 1i
“
*
2%
2%
2
2
2V
West Eud L an d .. (B oston)___
* Bid and asked prices no sale was- made.

Prices oj A pril 17
Atlanta & Charlotte (Ba^.).lOO
Boston A Providence (Boston.). 100
Camden A Atlantic p f. (Ph ila.). 50
Oatawissa........................
“
50
1st p referred ..........
44
50
Central Ohio................. (Balt.) 50
Chicago A West Mich. (Bostoyi). 100
Connecticut A P ass..
“
100
Connecticut R iv e r ...
44
100
Consol. T ra ct o f N.J.Ii(PAi7«.).100
DelawareABoundBr.
"
100
Flint A Pore M arq...(B oston). 100
“
100
Preferred.................
Hestonville Passeng. (P hila.). 50
Preferred H.................
44
50
Hunt. A Broad T o p ...
“
50
P referred.................
“
50
Kan. C’yF t.8. & Mem. (Boston) .100
P referred.....................
“ 100
Little Bchuvlkill.........(Phila.). 50
Mine Hill A 8. Haven
“
50
Nesquehoning V a l . . .
44
50
North American C o..
44
100
North Pennsylvania.
44
50
Or.Sh.Linelst asst.pd'B outon;.100
Pennsylvania A N . W. (P hila .). 50
Phlladel. A Erie........
44
50
Rati n d ...................... (Boston) .100
Pre ‘erred.................
44
100
8 juthern..................... ( Balt.) . 100
Preferred.....................
44 100
West End..................... (Boston). 50
P referred....................
44
50
United Cos. o f N. J .. (P hila .). 100
West Jersey...................
44
50
West Jersey A Atlan.
44
50
Western N.Y. A Penn
44
100
Wisconsin C entral... (Boston) .1 00
100
P referred ................
4
100
Worc’st.Nash.ARocli.
4

[Y ol . L X II.

16%

16%

125% 123*s 125*9 35,031 97 V Jan.
1,363 95 Jan.
103% 102% 103
332 197 Jan.
205
205 205
9,200 65 Jan.
76*3 75*3 76
770
1% Mar.
2
2
17,29 d Jan.
309 *306 309
*60
419 55*s Jan.
64% 64%
64 V 65
32% 3 i% 13,690 24 Jan,
35% 35%
1,867
25 Jan.
36
37
37*4 38
1,824 53% Apr.
*60
61
60% 61
37%
5,583
22*s Jan.
36V 37*4 37*4
91 50 Jan.
78
76*9 76% *76
230 18 Jan.
*19
20
19% 19%
112 4 1 Mar
42*4 42 ^4 42% 42%
93
8 87% Jan.
*91
12% 12,775
9 Jan.
12% 13%
12
1,695
66 Mar
70%
70
70*3 71
97; 46 Jan.
59% 60
597g 60
*
2%
2
2
40(
1% Jan.
1 Trust receip ts, $2% pd
123V
103
205
76
*2
309

Inactive stocks.

Bid.

Ask.

55
Boston United Gas, 2d m . 5s. .1939 5 53
Burl. A Mo. R iver E xe n p t 6s, JAJ 4115 116
Non-exem pt 6s.......... 1918, JA J 5106*9 107
99
Plain 4 s......................... 1910, JAJ $ 97
Chic. Burl. A Nor. 1st 5,1926, A&O §103 104
99
2d mort. 6s..................1918, JAD § 97
99
Debenture 6s.............. 1896, JAD § 97
95
Chic. Burl. A Quincy 4s 1922, FAA $ 93
98
Iow a Division 4 s....... 1919, A AO § 96
62
Chio.AW.Micb. gen. 5s, 1921, JA D 5 58
60
Consol, o f Verm ont, 58.1913, JAJ § 56
75
Current R iver, 1st, 5 s ..1927, AAO § 65
67
Det. Lans. A N or’n M. 7s. 1907, JAJ * 65
Eastern 1st m ort 6 g. 1906,M AS.. §119 120
Eree.Elk. AM .V .,1st,68.1933, end. §128 130
Unstamped, 1st, 6a, 1933............ 5126 127%
K.C. C. A Spring.,1st,5g.,1925, A AO 5 67*9 75
95
K C. F .8. A M .~oon.6s, 1928, MAN § 93
63
K.C. Mem. A Bir., 1st,2s,1927. MAS * 63
§120JAJ122
K.
C. 8t. Jo. A C. B ., 7 s ..1907,
95
L. Rock A Ft 8., 1 st,7 s .. 1905, JAJ § 9 2
Louis., Ev.ASt.L., 1st, 6 g.l92 6, AAO §100 105
2m .. 5—6 g .................1936, AAO § 85
87
Mar. H. A Out., 6 s .....1 9 2 5 , AAO 5106 109
63%
M exioan C entral,4 g . . . 1911, JAJ l 68
20
20%
1st consol.incom es, 2 g, non-cam
2d consol, incom es. 3s. non-ourr.
9*9 10%
120
N. Y. A N.Eng,, 1st, 78,1905, JAJ- *119
1st m ort. 6 s....... . ...1 9 0 5 , JAJ *112 112%
95
Ogden. AL.C., C on .6 s...1 9 2 0 ,A AO § 93
15
Inc. 6 s...................................... 1920 i 5
Ru tland, le t ,6 s ............ 1902,MAN 5107 109
2d, 5s................. .........18 98,FAA 5 98 100
iU eg ?en y
l& iS, JAJ
Atlantic City 1st 5s, g., 1919, MAN
Belvldere Del., 1st, 6 s ..1902, JAD
Buffalo Ky. con. 1st, 5 s.......... 1931
Oatawissa, M .,7 s ........1900, FAA
Choo. Okla. A Gulf, prior lien Os..
Citizens’ 8t.R y.ol lnd.,oon.5B.1933
Columb. 8t. Ry,, 1st, eon. 5s. .1932
Colurnb. O. Crosstown, 1st,58.1933
Consol. Traot. o l -V. J., 1st,5s.1933
Del. & B’d B r’k, 1st, 7s. 1905, FAA
E aston * Am. lBtM .,5s.19 20,MAN
Elmir. A W ilm .,1st,68.1910, J A J.
Hestonville M. & F., oou. 5s..1924
Hunt. A Br’d T op ,C on .5s.’95,AAO
Lehigh Nav. 4 *«b.......... 1914 “
~
2d 6s, gold ................... 1897!
General m ort. 4*28, g .1924.
_
Lehigh Val.Coal ls t5 s ,g .l9 3 3 ,J A J

113
111*4
105%
80
84
122%
120

105

82
84*9
1110%

7
7
2
7
7
3
20
7
7
11
6
8
7
25
23
7
2
8
25

125%
103 *
207
81
13%
310

A pr.
A pr.
Mar.
Feb,
Jan.
Mar.

16
16
30
25
31
4

66 Apr.
36% Apr.
38 Apr.
63 Jan.
39% Mar.
78 A pr.
19% Feb.
46% Feb.
90 Feb.
14% Jan.
81% Jan.
67 Feb.
2% Feb.

2
15
16
31
13
14
4
8
10
17
2
17
14

Bonds.

Bid. A s k .

9 2 V 93
100%
117 118
Gen. m ort., 4 g ........... 1920, AAO 103
79*2 80
'hila A Read, new 4 g „ 1958, JAJ
1st pref. Income, 5 g, 1958, Feb 1 31% 32
18*2 19
2d pref. inoome, 5 g, 1958, Feb. 1
16% 17
3d pref. Inoome, 5 g , 1958,Feb. 1
120
2d, 5s...................................... 1933,AAO
Consol, mort. 7a......... 1911, JA D 127
Consol, mort. 6 g ......... 1911, JAD 117
103
Im provem en ts!.6 g., 1897, AAO
Con. M .,5 g.,stamped,19 22,MAN 101%
Terminal 5s, g . ...... 1941, Q.—F. 107
Rochester Railway, oon. 5s ..1 9 3 0
Bohuyl.R.E.Side.lst 5 g.1935, JA D
Union Terminal 1st 5 s___ ...F A A
8 o n d s .—B a ltim o r e .
Atlanta A Chari., Is t7 s , 1907, JAJ
Baltimore Belt, 1st, 5 s .1990, MAN
Balt. C. Pass. 1st a s . . . . 1911, MAN
Balt. Traotion, 1st 5a..1929, SIANi
Exten. A irnpt. 6s___1901, MAS
No. Balt. Dtv., 5 s....... 1942, JAD
Baltimore A Ohio 4 g., 1935, A&O
Pitts. A Conn., 5 g. ..1 925, F A A
Staten Island, 2d, 5 g.1926, JA J
Bal.AOhio 8.W .,lst,4*«g.l990, JAJi
C apeF.*Yad.,Ser.A .,6g.l916, J A P '
Series B., 6 g ................1916, JAD
Series C., 6 g ................1916, JAP
Cent. Ohio, 4*3 g ............ 1930, MAP
Cent. Pass., 1st 5s ....1 9 3 2 , MAN
City A Sub., 1st 5 s.........1922, JAD
Cbarl. C ol.A A ng.exi.5s.19lO , JAJ
Col. A Greenv., 1st 5-6s,1917, JAJ
Ga.Oar. A Nor. 1st 5 e ..i9 2 9 , JAJ
Georgia Pae., 1st 5-6S...1922, JAJ
North. Cent. 6 s............... 1900, JAJ
6s....................................1904, JA J
Series A, 5 s..................1926, JAJ
4*38............................... 1925, AAO
Pledm.A Cnm ., 1st, 5 g.1911, FAA
Pitts. A Connells. 1st 7 s .1898, JAJ
Southern, 1st 5 s............ 1994, JAJ
Virginia Mid., 1st 6s. ..1 906, MAS
2d Series, 6s..................1911 MAS
3d Series, 6 s................1 9 1 ,, MAS
4th Series, 3-4-5s....... 1921, MAS
5th Series, 5s.............1 9 2 6 , MAS
West Va C .A * M s t ,6 g .l9 1 1 ,J A J
Weet’ t N.O. Consol. 6 g .1914, JAJ
Wllm. Col. A Aug., 6 s :.1910. .TAD

111% i n r
10‘J
101 105
118% 119
yo
88
114
110
109
1-3*3 104*3
107*3 108
100 i.........
98*3 100
74
50
52
50
97*3

101

110 1112**
108*3 109
10 4 V 1 0 5
110 [111
83*3' 84
113 |.........
109*3 110
113114"
10**3
...
100 1101 *3
102% 103
92*3 93
110
112
111 112

iii%
104 ,105
110%
106 1........
103% 104
99
99
107
107
112
133
........
1 0 3V 104
MISCELLANEOUS.
124
Newark Passenger, oon. 5s...1930 103 ] 103 is Baltimore Water 5 s .-.1 916 , MAN 119
93*9 North Penn. 1st, 7 s___1896, M >> 103 V .........
Funding 5 s . . . . „ ........1916, MAN
1>.
Gen. M. 7s............................. 1903,JAJ
121 |
Exchange 3 * ,s ..................... 1930,JAJ
105 ’
29*9 Pennsylvania gen 6s, r.. 1910, Var 128*3 129*3 Virginia (8tate) 3 s , new . 1932, JAJ
53%
Consol. 6s, o
.......... 1905. Var
Funded debt, 2-3s................1991, JAJ60%
Consol. 5s, r............... 1919, Var 117*3 .
Bonds— Boston.
Cbesaueage Gas, 6 e . „ . . 1900, JAD 105
JAJ 79% 80
A f.Top.A8.F.100-yT.4g.,1989, J
Tollat. Tr. 4*3 g . .......1913. JAD
Consol. Gas, 6s...............1910, JAD 112%
2d 2%-4 h, g „ Class A .. 1989, A AO
26V 26*3 Pa A N. V. Canal, 7 s ... 1906,.TAP 123
5 s ................................... 1939, JAJ 104
“United
died Gas
~ -1st fts..
"
§79*a 80
Con. 5 s.........................1939, AAO
95 ' Eqnitable Gas. 6 s ....... 1PT?. a a
.........
* Price includes overdue ooupous.
U Unlisted.
i Anil accrued in teres

100
107%
113
120
10hH
61%
105%
113
104%

THE

A pril 18, 1886.]

CHRONICLED

J 1 L .

NEW YORK STOCK EXCHANGE PRICES {C on tin aedl-A C ZY F ® BONDS APR IL 17 AND FOR YEAR 1896.
ILKOAD AND

Misc e ix a xk o d s B onds .

I n f si c ^°s} n9 Range (sales) in 1398.
Period A p r ‘f 7 1" £ 0, « s(.
Highest.

Ra il r o a d an d
M is c e l l a n e o u s B o n d s .

[Range (sales) in 1896.
In t’st Closing
P rice
Period A pr. 17. j Lowest
Highest.

Amer. C o tto n O B ,d e b .,S g.l9 0 0 CJ—F lioaga. 109 Mar. 111% Jan.
85% ! 80 Jan.
M. K. & Texas.—le t, 4s, g.1990
87 Feb.
A m i A rbor.—1st, Is, g ....... 1995' %—J
2d, 4a, g ..............
1990
69%
86 Jan.
71% Feb.
63% Feb,
59% | 53% Jan.
A t-Top.A S .F .—100. v r.,ig . 1989 J A J '176 b. (6 9 % J a n . t8 0 % F e b .
Mo. Pae.—1st, con., 6g.......1920 M & N
92
90% Mar.
97 Jan.
3 -4 * ,C l."A ” l«tin t‘ tall.pd,’8 9 iA A O t 261* 119% Jan. i2 8 % F e b .
3d, 7 s.................. . . . ; ........ 1906 M A N '108 b. 108 Jan. 112 Jan.
New gen. 4s....................... 1998 A A O 79%
72% Jan. 81%, Feb.
Pao. o f Mo.— 1st, ex., 4 g .l9 3 8 F A A ‘ 101 b .1 0 1 Feb. 102% Jan.
Adjustment 4a............ -.1 9 9 5 N or.
45%
42% Jan. 51% Feb.
2d ext. 5s.......................1938 J & J ■106 a . ..................
Cof. M idland—C o n s.,4 g .l9 4 0 F A A *i24% b. t20 Jan. 127 Feb.
S t .L .ilr .M t .la t e x t .,o s .1 8 9 7 F A A 1 0 0 % b .lo o Feb. 102% J a n
AO. & Pae.—Guar. 4 s.......1937............., 45 b. 41% Feb. , 41% Feb.
2d, 7 g ............................. 1897 51 & N 103 %l>. 100 Jan. 103 Mar.
B rooklyn Elev. 1st, 6 g ___ 1924 A A O 96 a. 94
Apr. 102 Jan.
Cairo Ark. * rexas, 7 * 1 8 9 7 J * D 100 b. 100% Feb, 101 Jan.
Union Elevated.—d g ____1887. SI A X * 97 b. 95% Mar. 100% Jan
81% Mar.
Gen. R’y A la u d g r .,5 g . 1931 A & O 77%b. 77 Apr.
B'fclyuWhrt&W.H—l s t t5s,g.'45 F & A 100%
97 Feb. 100% Mar. Mobile A Ohio—New 6g ___ 1927 J & D 118% 117 Jan. 119 Feb.
C a n ila Southern.—1st, 5s,1903 J & J 109 b. 106 Jan. 110 Apr.
68 % Feb.
General m ortgage, i s , .. 1938 M A S 6 5 %b. 62% Jan.
2d, 5s................................. 1913 M A S ' 104%a. 103% Mar. 106% Feb
127 Feb. 129 Apr.
Nash. Ch. A St.L .—1st, 7 s.. 1913 J & J 129
99 b. 99% Apr. 102 Feb.
C eut.G s.S .& W .lsteons.,5sl929 ..........
Consol., 5 g ........................19 8 A * O
Central o f N. J .—Cons.,7s, 1399 Q—J 108 b. 107% Apr. 110% Mar. Nat'1Starch Mfg.— 1st 6 s ..1920 M A N ' 93 b. 92 Jan.
95 Jan,
C on sol, 7 s ........................1902 M A » 119%». U 5 % Feb. 119% Mar. X. Y. Central—D ebtext.4s.1905 M & N 103% 100% Jan. 103% Apr.
General m ortgage, 5 g . . . 1987 J * J "118 b- 112% Jan. 119% Feb.
1st. ooupon, 7 s.................1903 J & J 119 %b. 118 Jan. 120% Mar.
Leb.A W. B .,oou.,78,as'd.l900 %—M 105 a. 103 Mar. 106 Feb.
Deben. ,5s, coup,, 18 84 ..1 9 0 4 M A S 106 %b. 105% Mar. 109 Feb.
"
m ortgage5e.l91 2| M * N 90
90 Apr.
92% Mar.
X. Y. A Harlem, 7s, r e s..1900 M A N
Am . D esk A Im p., 5 s ___1921 J A J '1 1 3 % b . 111% Jan. 114% Mar.
R -W .& O gd., consols, os.1922 A & O 117 a.; 116% A pr. 119% Feb.
99% Jan. 103% Feb.
Central Paciflo.—Gold, 6*.1898 J & J 103
W est Shore, guar., 4a___2361 J A J 106% 104 Jan. 106% Feb.
Chee. A Ohio.—S er.A , 6 g ..l9 0 8 ;A A O '115
102 Jan. 105 Feb.
X Y. Chic. * S t L .- 4 g . . . 1 9 17 A & O 103
Mortgage, 6 g ................. 1911: A A O 115% 114% Apr. 117% Mar. X .Y .L a o k .* W .- m t ,6 a .. l 9 2 1 1 & J ’ 130 b. 129 Jau. 133% Feb.
1st consul. , S g ,................ 1939 M A X 109% 104 % J an. HO Apr.
Construction, 5a............. 1923 F A A U 3 % b . 112% Star. 113% Apr.
75
68% Jau.
78% Feb.
General 4 %*, g ................1992 M 4 b
X .Y .L .E .A W .-lst,eon .,7 g .l9 2 0 M A S 136 b. 135 Jan. 140 Feb.
91% Jan.
96 Feb.
R A A -D iv ., 1st eon., 4g. 1939; J A J 95%
3 consol., 6g .................... 1969 J A D ............ f 60% Jan. 175 Feb
81 b. 82 Feb.
2d eon., 4 « .. 1989 J A j
65% Feb.
Long Dock, consol,, 6 s.1 935 A A O 128 b,
EM*. Lex. A Big. Sau.,5*. 1002 M A S 99 %b. 98 Jan. ; 102% Feb.
X.Y. X. H. A H.—Con. deb. otfs A A O ' 135 a 135 Jan.
115% Jan. 118 Feb.
Chie. B u rl & (E—Con. 7 s .l9 u 8 J A J 118%
88% Jan.
X .Y . Ont. & W.—Ref. 4s, *.1992 M A 8 86%
Debenture, Sa................. 1913)3* A S 100 b. 97 Apr. 101 Feb.
Consol., 1st, 5s, g ........ . 1939 2 A D 109 b. i107 Jan.
99% Mar. 104% Feb. I X.Y.Sus,A W .U tr e f.,5 s ,g .l0 3 7 J A .1 90 a. 9 6 % Mar.
Convertible 5 «................. 19C3 M A S 101
Denver Division I s ........1912 F A a
94 b. 94% Mar. 95 Jan.
M idland01 X. J „ Os, * ...1 9 1 0 A A o 114 b. 114 Apr.
Nebraska E xtension, 4« .19 2 ?'M A X 90 %b. 87% Jan, ; 91% Feb.
64 b. 60 Jan.
X orf.A W .—100-year, 5s,s. 1990 J A J
Han. A St. Jos.—Cons. 6*. 191 L'M A 8 116%!. 116 Jan. 1 18% Jau.
X o.Paotflo—1 st, coup. 8 g .l9 2 i;J * J 115% 113% Jan.
Chic. A E. I l l .- U t .a . t. 6*. I "0 7 J A 1> 115%b. 112 Jan. ;ll9 % M » r .
General. 2d, coup,, 8 g . . 1933 A A O 111% 100 Jan.
C onsol 6 k .................. ....1 9 3 4 A * O 123 b. 1*3 Jan. : 126% Feb.
74 b. 64 Jan.
General. 3d, coup., 6 g .. 1.137, J A D
General con sol, le t 5*..19.37131 A X 101%
99 Feb. 102 Mar.
31% Jan.
Con«»L tin>r*gage. 5 g . .. 1989]J, A D 49%
Chicago A Erie.—I k*. 5g,.1982 M Sc X U »% b 105% Jan. 112 Feb.
Col. trust gold notes. Os. 189.81-M A X
90%
7*1% Jan.
Incom e, 5s...................... 19821 Oct.
........ . . f * o
Jan.
*8 Jan.
Chie. * X. Puo., 1st, 5 g.,1940 A A u t 4.3% 137 Jan.
Chic. Gns L A C .- U t . Sit . U»;J7 J A 4 91%b. 90 Jan.
93% Feb.
Seat. L. S A l l , ls t ,g u .0 .l9 3 l'F A A I 42%b. t3 6 Mar.
Chic. M i l * S i P,—Con.?* 1905 J A J 128 b 123 J an. 129% Apt.
(2 0 Jau.
No. Fac. A Mont.—6* .. . . 1938i>i * S i 37
1st. -ou th w estD lv., 8 s ..1909 J A J JIS%b. 115 Jan, 113% Mar.
No. Pnoitie Ter. Co—« g ...L 938;J A J 104
100 Jan. 1105
let, So. Minn Dtv., 6 a . UHO J Sc J 116 h i 1 3 % Jan. ID ! Apr.
O h io * M iss.-C nn.s.f.,7 s . 1898 J A J 103 Hb.. u w Jau. 104
l*t,C h.A P aw .W .D ir.5*..1921 J St J 111 b. UO Jan. I l l
Apr.
93
87% Jan.
944
Ohio Southern—1st, 0 g ...l9 *2 t J A D
C h ic .* Mo. Rtv.Dlv.,5». . 19215 J A J KM il. 104% Jan.
General m ortgage, 4 g . 1921 M A X 31 a. 25 Jan. i 35
W ise.*M in t*.,D ir ,5 * ... 1921 J .V J 112 %n. 106 % Jan. 112% Mar. O rogonlm pr.C n.—I s t O g ..1910 J A D - 90 a. 80% Mar. 1 917
T erm inal,5 * . , ......... ....1 9 1 1 J * J 118% 108 Jan. i u
M
Consol., ft g .................... 1939 A A O *f 23% 120 Mar. : 30
Gen. M,, 4 *,, series A -----108951 A J. 83 b. 92% Apr. . 93% Mar. , O re.R .A X «iv.C o.—let, Og 1909 J A J 110
105 Jau 111
MU. * N or^-lst,oon.,6s. $913 J * D l i t ! b. 115% Fell. 117 Mar.
C on sol, 5 g ...................... 1923 J A D 1 96
190 Jau. (98
Chic. * N. W.—C o n so l, 7*. 1915: Q - F
139 %». 138% Mar. 141 Jan.
Penn. Co. -l% g ,e o n p . ...1 9 2 1 > A J ............ 103% Jan. 11*
Coupon, g old, 7 a ............. 1902 J * t> 118 b 117% Mar. 110 Mar. Poo. Dee. A Bvansv.— 8 a 1020 J A J 1 0 1 %!., i o i
Mar. 10*
Sinking fon d. Os............. 192»jA A O 115 b. 112 Jaa. 116 Mar.
Evans. Division, 0 g ___.1920 X A 8 I0i% b . i o i Mar. 1101
Sinking land, 3*..............1029! A A O, 108 b. 109 Jan, 111! Mar.
2d mortage. 8 x ..... ........ 1928 M A X ♦128 b. 26 Mar. I 31
Staking fund, debeo., 5* 1933 M A N 111
107% Jan.
*— 111 % Mar. PiiibnABeati—S en .,4 g ,.1 9 5 8 i’i A J t 79% (7 1% Jan. it80
25-y©»r debenture, 5t..,1909i;M A N 106%t>. 103 J. an,
..
106% Mar,
1st pf. Ine.,& g, 1 ,-t lust p d .'.'H ........... t 30 b. 19% Jau.
Extension. 4a ................1926, F A A 100%b. 100 Jan. l o l Jan.
5% Jan.
2d pf.luo , *>g., 1st Inst ptL'i'jH........... t 18%
Chic. It.1. A P ac.—6s,coup. 1917 J * J 1*5 0.4 26 Mar. 126 Mar.
3*1 pr.iue., .'* g., 1st lnstp*L'58............ t 1 6 %b. 3% Jan.
E x te n sio n a n d e o L ,f> s ..l9 3 4 ,J A J 103%1». „o o Jan. 103% Apr. . Pittsburg A W estern— lg .l9 !7 :J A J 72
63 Mar,
30,y*»»r debenture, 5 * .. .1921 M A 6; 94 b. 92 Jan. 97% Feb.
70 Jan.
Klo Or. Western— 1st 4 g . 1939 J A J 75%
Chie. St. P. M. A 0 .- 6 * ...1 9 3 0 J A D 125%b. 134 Jam ! 136% Mar. •St, Jo. A O f. Island—0 g . . i 0 25i M A X i 47 b. 40 Fob.
Cleveland A Canton. —5«., 1917 J A J '* SO tj 79 Jan. : 80 Jan.
SL L A San F r .-O g , Cl. B. 1900 M A X 1X5% 111% Jan.
t* C. C. A t.—Consol. ? g ... .1911 J A D 128 b. lift Jan. 127% Feb.
0 g., Class C.............. ......19001M A X ll.‘»%U. 112 Jan,
General consol,, 6 * .......1934; J A J 122 b. 12*1% Apr. 128% Apr.
101% Jan,
General m ortgage, 6 g .,1 9 3 1 J A J 108
C.C.C.ASt.I___IV o .A E .ts H*t*i A A U
77 b . 76% Apr. 90 Jan.
Cons. guar. Is, g............. 1990 A A <1 * 36 b. 35 Apr.
Incom e, 4 s .................... ,.19twi April.
ID b. I-i% Mar. : 23 Jan.
74 %
70 Jan.
8t, L. A So. W.— 1st, 4«, g, 1989 M A X
Col. Coal A Iron—6* — 1900! F A A
99 b. 94% Jan. 100 Jan.
29
24% Jan.
2d, 4*, g.. In com e.......... lOstH*) A J
Col. A iuh A r e . gu. 5*, g ..lO V 3 M A S 112 b. i l l
Apr. 114% Feb. 8t. P..M.A M.—Dak. Ex,,6 g. 1910 M A N 119 b. 119 Mar.
C o U I.V a t.A T o t—Cnu.,5g. l!*iil M A .8 84%b 83 Jan.
1 st consol., 8 * ............. .1033*1 A J 122 % b .117 Jan.
9 0 Feb.
General. 6* .................... 1904 J A D
89 b. 80 Jan. • Oil Apr.
"
roauoed to 4% g . . J A J 101 b. 101% Jan.
Deny. A f t o t i r .—1«t, 7a,g. 1900; M A X 114
110% Jam I l l
86 b. 86 .Mar.
Montana extension, 4 g. 1937 J A D
Apr.
le t eeneoL. 4 * .................1936 J A J
so
57 b. 51% Jan.
83 Jan.
Nan. AnLA A. P.—1st, lg.,gu.'43 J A J
90% Feb,
DitL 80. «h . A A tS .-5 * .. .11*37 J St J
95 Jan.
90. Car. A Ga.—1st, 5 g . . . 1919 M A N 94 b. 93 Jau.
99 Feb.
Erl#—t, g , prior bond*.. . . 19 30 J * J »3 % b. 93 Feb.
94 I), 94 Fob.
So. Paelllo, Arlx.—8 g ..,1 9 0 9 10 J A J
93% Fell,
(Jen
3-4,
So. Pantile, C a t - 0 g . . . 1905-12 A A O 107 b. 107 Apr.
04 Mar. 07 Apr,
“
* • * ............... 199*1 J A J 60%
F t W, A D e n v . q t y . - % . . 1 9 2 l j j A p 167 b, 84 Jan. (7 0 % Pea.
90 b.= 90% Mar.
1st consol., gold, 5 g ,__ 1037 A A O
Gal.H .ASan.An-M .& P.O.l»t,5* M
92 b. 91% Jan.
8o. PaclOo, N. M.—6 g .......1911 J A J 104 b. 101% Jan.
93 Jan,
Gen. Electric,deb. 5a,* ...1 9 2 2 J a i* 90 b 83
“
'
03
87% J an.
southern—1st roons. g, 5>».1991 J A
Jan.
93% Feb.
Iloas. A T .O a t . geu.4«, g .lu * 1 A A O 69
90 b, 90 Mar.
M Tuna, rcorg lien l-5«. 19:)-* M A
88 Apr.
70% Mar. ,
Illinois Central.—1». g. . 1.1053: M A s 100%
408 %b. 107 Jan.
99 Jan. 102 Feb.
E T. V . A G .- l s t ,7 g .. ..L 9 0 0 J A
Western Lines, let. K g .l& .H F A A 10* b. 101 Mar. >103% Jan.
108% >103 Jan.
Con. 5 g ............... ........ 1956 M A
Int.AGreat Xor.—l*t,0a,g. 1019 M A X 147%b. 115 Jan. i l i a
U 3 % b . 110 Jan.
Georgia Pao. 1-t.ViS-s. g ,1022 J A
Feb.
2 d ,4 -3 * ............... ............1 900 M A .a
7*1 b. 70 Jan.
111 a. 113 Feb.
K noxv. A Ohio 1st 6 s,g .. 1925 J A
77% Feb.
Iowa C entral—1st, 5 g — 1938 J A l> 9>i
110% 115 Jan.
90% Jan. 96 Apr.
Rich. A Danv. eon. Os, g..l91ftJJ A
Kings Co. Kiev. - 1 s t ,hg 10*5 J A .1 IUO b, 00 Apr. 71 Jan.
i l l a. 112% Fob.
W eslXo.C nrlst(H m .6s,g 1914;J A
15aol«le G a s .-ls t , 5 « ,g .. .lu ll) <j—F
94%
93 Jan. 9 6 Jan. Tent!. 0. J. A Rv—Ten. D .lst, tig A A O 89 I* !9 Jan.
Lake Brie A Week—5 g .. .. 1937 J A J 113 b. 113 Jan. 110% Apr
Birmingham Dlv,, 6 g ...l9 1 7 :J A J 90 b. 89 Jan.
U Shore. -C om ep., 1 *t, 7 s. l uoO J A J 113% 112 Jan. 115 J an.
81 Jan.
Texas A PacMle—1st, 5g..2000iJ A i> 89%
Consol, coup., 2d. 7*------1903 J A D 119%b. 118 Jan. 120% Mar.
23%
18 Jan.
2d, Income, 5 g ........ . . . . 2000;March
Lex. Av. A P »y. F. git. 5*,g.l983' M A .8. I l l a 111 Jan. I l l Feb.
105%
Jan.
i oled o* UbloCent.—5 g . . U*:.S5 J A J 107%
L ong Island,—1st con ,, 5 x ,1 9 3 l' Q—J 12*1 b. 117% Jan. 120 Feb
i>l. St. I. A Kan. C .- O g ...1916 J A D t 74
171 Jan.
General mortgage. I g , .. 1938 J A D 94 b. 93 Mar. 99 Jan.
Union Pantile—(1 g .......... .1898 J A J 105 1) 102% Jan.
Loot*. A Nash.—Cons. 7*. ,1899 A A o 105
93 b. „90 _____
. . .
Jan.
Ext. sinking fund, $------1890.51 A 8
1*11 V Apr. 108% Mar,
X. O. A Mobile, 1st, Og. . 1930 J A J ||3%b, 118 Jan. 119 Feb.
Collateral trust, 1%.___1u i -* >1 A N t54 a. 150 Feb. I 54% Feb.
“
—
'•
"
2d, 6g. 1930:J A J 102 b. 97 Jan. 10D Feb.
Gold 6«, o o l trust notes. 189 I F A A 98 a. 93% Jan,
G en era l,8 * . , , . ........
1 9 3 0 J A D 115 b. 114 Jan, 110 Apr.
Kan. Pac.-Deu.Div., 6 g. 1899 M A X UO b. 100 Jan.
Untiled, 4g...................... 1040 J A J 78 b. 71% Jan. 80% Fob.
1st consol., 8 g ...... ..,.1 9 1 9 M A X I 73 %b. 170 Jan,
U;ni»,N A * c a » . - l s l , 0 s 191» J A J 'U 2 % b .,lU % Jan. 113 Feb.
Oregon Short Line—6 g. 1922 F St A (113% UOO Jan.
Consol.,Og ...............— 1910 A A O, 100 a. 99 ' Apr. 103 Feb.
Or.S.L-AUt’UX.—(>)n.,5gl919 A A u.t 03
■
,151
Jan.
U.P.Den.AGulf,eon.,5g.l93U J A D 38%
31% Jan.
Manhattan consol. 4s...... 1990 A A O' 90% j 94% Apr.
99 % Mar.
Metro. Elevated.—1st, 6g. 1908 J A J H8%*>, 110% J »D. 119 U A i t . U. S. Cord.—ls t o o l„ 8 g .:.1 9 2 l J A .11 2 0% a.l29 Mar.
. **l.«s ............................,.1899 ,M A X 107%b. 106 Jan. 107% Feb,
Virginia Mid.—Gcn.M., 5S.1936 M A X 103 %b- 97 Jan.
Mleh. Cent.—1st,eons,,7.i-1902;JI A X 118% 117% Jan. 119 Jan.
W a b a s h -1st, 5 g .............. 1930 M A N 107% 102% Jan.
C on sol, 5 s .................... 10O2IM A X *106%b. 100% Mar 108% Mar.
69 Jan.
2d mortgage, 5 g.............1939 F A A' 73%
lO L L a k e e h .& W .-ls t ,6 * .ln 3 l!M A X 131% 120% Jan. U32 ' Apr.
West N. Y. A P a —1st, 5 g. 1937 J A J 105%b. 105% Jan.
Kxtott. A Imp.. 3 * ...........1929 F St A ' l l ! b. 111 Fob. 111% Mar.
Gen. 2-3-4», gold........ ..1943 A A O 43 1). 43% Apr.
M lnn.*8LU — I*teno."S .g.t034 M A » 101%
90% Jan. 101% Feb.
West.Un.Tel—CJol tr. 5s .1938J A J 10«% b. 105 Feb.
43% I 37% Jan.
MO. K.Afc.,—1st 5s.g-. itn..11)1* A A O 9 0 %b..' 88 Jab. i 94 Fob.
Wise. Cent Co. 1st 5 sc .....1937 J A J
Note .—■'(>" indicates price hid; “ a " price asked; the range Is m ade up from actual sales only.
NEW

SECURITIES.

Bid.

Ask.

Railroad Honda.
( Stock Mxehange Prices.)
Alabam a Mid.—1st,g., g u a r.,1928
A, T. * 8. F .—2d, 4», Class 6.1 989

t Trust receipt*,

SECURITIES.

Bid. , Ask.

SECURITIES.

Balt. A OhiO-5*, gold............ 1925

S0% ......

Buff. R och. A Pitts.—Gen. 5s..1937
R oeb. A P., 1st, 6 »................1921
Roeh. A Pitta,—C oes.1st,Ga.l 922
Buff. A Siisrpndl.- lM . 5», g.,.1913
Burl. Cedar Rapids A Nor.1st, 5 s ..... ....................... ....1 9 0 6
Consol, A c-oUat. trust, 5 s .. 1934
Minn. A St. L.—1st, 7s, g n .,1 9 2 7
Cod, Rap, 1. F. A N., 1st, 6s. 1020

---------------------------------------------------- -----------^------Cons. W ort., g old, 5 s ............ 1988

*91 ........
...................

ObfeajmA S t Lcm .-t»t, 8*. 1915' ...... . ........

Col. Mid

* Latest price this week,

Y O R K S T O C K E X C H A N G E J’ R l C K S - ( C o n t i n u m l ) .- I N A C T I V E B O N D S - A P R I L * 7

1st. g., 6 s ..............193fi

Atl. A Pan,—2d W. D,, gu. 6*.1907l . . .

95

........

W. Va. A Flttls,—D t, g., 5s..1990 83 ........
B. A 0 .6 . W„ 1st, g .,4% *... 1990 98 ........
Morion. River, 1st,g „ g .5 s .. 1919 ..................
Cent'l Ohio R eor.-l»t,4% .s.1930 99 .........

Ak.ACh.Jnne.— lst,g .5 »,g u .l9 3 0

...................

' ........ Brooklyn Elevated—2<1, 5*.-.1915 ........ 86
Western Dlrtslon Income. .1 9 1 0 - ........ ' * '
Seaside A B.B. —l«t,g,8s,gu. 1942 *78 ........
Bait. A Ohio- 1st, 6», Park 8 .1 919 107 ,
Brunswick St W’ n—1st. g „ 4s. 1938.................... .

1st, 5s...... ..........................1921

Bid.

Ask.

94 |....... .
......... .......
117 119%
95 .........
10*
......
100% 102
.......... ..........
100 i.........

88

........

THE CHRONICLE.

71b

NEW VOUK STOCK EXCHANGE T U lC E S.-IiV A C TTP'®
SECURITIES.

Bid.

Ask.

SECURITIES.

B O N D S — f C o n tin u ed )— A P R I L

Bid.

Ask.

F.
A.P.51.— 1st. oon. gold, 5 s ..1939 93
87V
Ft. Huron D iv.—1st, 5 s ___1938
fla. Cen A Pen.—1st g. 5s___1918
1st con. g., 5 s ........................ 1943
58
81. Worth A R . G .—1st g., 5 s ..1928
54
104*
Gal. Har. A San Ant.—1st, 68.1910
2d mort., 7 s............................ 1905 100 101
Ga. Car. A N or.—1st, gu. 5 s,g .l9 2 9
Grand Rap. A Ind.—Gen. 5 s.. 1924
G. B. W. ABt. P.—1st, con. 58.1911
2d luc, 4 s.................................1906
1*6
Houeatonic—Cons, gold 5 s .... 1937 122*6
N . H avenA D erby, C ons.5s..l918 112
Hous. A T . C.—Waco A N. 7s.. 1903 125
108
1st g., 5 b (lnt. g td j................ 1937
Cons. g. Gs (lnt. g td )............ 1912 100 103i*
Debent. 6s, prin. A iut. gtd.1897 ‘ 85
Debent. 4s, prin. A int. gtd.1897 *80
Illinois Central—1st, g., 4s ...1951 1 0 8 *
1st. gold, 3*48........................ 1951
Gold'43.................................... 1952 100
Cairo Bridge—4s................... 1950
MIbs.R. Bridge—1st,a. f., 68.1912
Bpringf. Div.—Coup., 6s___1898 104 105
Ohio. Burl. & Nor.—1st, 5s__ 1926 103*4
Middle D iv.—Reg., 5s..........1921
Debenture 6s..............
1896
O. 8t. L. A N . O.—T en.1.,7 s .1897
Ohio. Burling. * Q.—5s, s. f..l901 102V
1st, oousol., 7s.....................1897
Iowa Div.—Sink, fund, 5s..1919 105 V
Gold, 5s, o o u p o n ................ 1951
Sinking fund, 4s........... 1919 97 '98*41
Memp. Div., l s t g . 4 s.......1951
Plain, 4s.............................. 1921 *87V
90
Ced. Falls A Miun.—1st, 7s. .1907
Chicago * Iowa Div.—5s... 1905
107*4 Ind. D. A Spr.—1st 7s, 1906, trust
25
Ckio. * Indiana Coal—1st 58.1936 98
30
rects., ex bon ds............................
98*s
O 0. Mil. & St.P.—lst,8s,P.D.1898 107
fnd. Dec. A IV.—1st, g , 5 s ....1 935 I t 1 1011 *
Id, 7 3-10s, P. D................. 1898 *125 127
85
Ind. Ills. A Iowa.—1st, g, 4s.. 1939
1st, 7s, $ g., R. D.................1902 125
1st, ext., g. 5 s.........................1943
20
1st, I. & M., 7s.................... 1897 125
tut. A G. N’n.—3d, 4s, g ........1921
60
Ul, I. & D.,7s....................1899 125
Kings Co.-F. El., 1st,5,g.,gu. A. 1929 *50
lac ,0. & M., 7s....................1903 126
Lake Erie A W est.—2d g;, 5 s .1941 101 1('3
1st, I. & D. Extension. 7s...1908 128
Nortli'n Ohio—1st, gu. g. 58.1945 102 104
1st, La C. & Dav., 5 s ....... 1919
111
L. 8. AM.Bou.—B .A E .—N ew 7 s.’98 105
1st, H .* D., 7s.................. 1910 125 126*2 Det. M. A T.—1st, 7s............ 1906
let, H. & D.,5s.................. 1910
Lake Shore—D iv. bonds, 7 s. 1899 *107
Qhicago * Pacific Div., 6s. .1910 iie> a i t s
Kal. A ll. A G. R .—1st gu. 5S.1938 110
Mineral Point Div. 5s......... 1910 105 107*8 Mahon’g Coal R R .—1st, 58.1934 110
0. & L. Sup. Div.. 5s........... 1921 109 110*4 LehighV.,N.Y.—1st gu.g.4*ss,1940
103
Fargo & South., 6s, Assu...l924 n o
It 91*
Lehigb V.Term.—1st gu, 5s,g. 1941
ino. conv. sink, fund, 5s__ 1916
Lehigh V ’y Coal—lstD8,gu.g,1933
Dakota &Gt. South., 5s__ 1916
108
Lltchf. C ar.* West.—1st 6s. g.1916
Mil. * Nor. mainline—6s... 1910 116
Little Rock A M.—1st, 5s, g ..l9 3 7 *25
Oaio.&Norw.—30-year deb.5s.’ 921 107 108 Long Island—1st, 7 s ................1898 107
Eaoanaba * L. S. let, 6s__ 1901
Ferry, 1st, g „ 4 * ,s................ 1922
95
Dee M. & Minn.—1st, 7s__ 1907
Gold 4s.................................... 1932
Iowa Midland—1st, 8s........1900
N. Y. A R ’ way B.—1st, g. 5 s .1927
Ohio. & Milwaukee—1st, 7s.1898 105
42 V
35
2d m ortg., in o .....................1927
Win. & St. P.—2d, 7s...........1907 125 127
N.Y.AMan.Beaoh.—1st, 7s, 1897 100
Mil. & Mad.—let. 6s.......... 1905 111*8 115>s N.Y.B. AM.B.—1st con. 5s,g.l935 100
Ott. C. F. & St. P.—1st, 5s. 1909
B rookl’n&Montank—1st,68.1911
Northern 111.—1st, 5s.........1910 106
1st, 5 s .................................. 1911 105
Mil.L. 8.AW.—Con.deb.,5s.1907
No. Shore Br.—lstco n .5 s,g .l9 3 2
Mick. Div., 1st, 6s............ 1924
Louis. Evans. A St. L.—Con.5s. 1939
Ashland Division—1st, 6s 1925
Louis. ANash.—Cecil. Br. 7 s..1907 104
Oh.R.I.&P—D.M.&F.D.lst 48.1905
85
E. H . A Nash.—1st 6s, g ....l 9 1 9 115 118
let, 2*88........................... 1905
Pensacoia Division, 6 s.........1920 105
Extension, 4s.................. 1905
St. Louis Division, 1st, 6 s... 1921
Keokuk & Des M.—1st, 5e..l923
2d, 3s.................................... 1980
Ohio. St. P. & Minn.—1st,6s...1918 126*s
Nashv. A Decatur—1 st,7 s.. 1900 110
Bfc Paul * 8 .0.—1st, 6s...... 1919 127*41 128
S. f.,6s.—8. A N . A la .............1910
Ohio. & W. Ind.—1st, s. f., 6s. 1919
50-year 5s, g .......................... 1937 *99
General mortgage, 6s......... 1932 117
99>* 100
Pens. A A t.—1st, 6s, g o ld ... 1921
Ohio. & West. Miou.—5s....... 1921
Collat. trust, 5s, g ................ 1931 100
Out, Ham. & D.—Con. s. f., 78.1905 116
L.AN. A M.AM.—Ist,g.,4*ssl945 104
2d, gold, 4*38.......................1937
io6*2
80
Nash.Flor.AS.—1st, gu., 5s. 1937
Oln. D. * Ir’n—1st, gu. 5s, g. 1941 10s-k
Kentucky Central—4s, g . . . 1987 *88
Olev. Ak. * Col.—Eq. & 2d 68.1930
Lou.AJeil.Bdge Co.—G u.g,4s.l 945
0 .0. C. & St. L.—Gen., g. 4s.. 1993 86 ........ Lou.N.Alh.ACh.—Gen.m .g.5s.l940 *73"
Cairo division, 4s............... 1939
Memphis A Chari.—6s, g o ld .. 1924
Bt.Eou.Div.—Istcol.ts’t4s,g.l990 94
95
1st oon. Tenn lien, 7 s.......... 1915 i o § "
8pring.*Col.Div.—1st,g. 4s. 1940
M exican Cent. Consol.— 4s, g.1911
WhiteW.VahDiv.—1st,g. 4s. 1940
1st, oons. incom e 3s, g........ 1939
Cln.Wab.*M.Div.—l8t,g.4s,1991 89
93*41 Mex. International—1st, 4s,g.l9 42
tin. I. BE L. * C.—1st,g.,4s. 1936
M exican National—1st, g., 6s. 1927
Consol, 6s.................
1920
2d, incom e, 6 b, “ A ” .............. 1917
Cin.San.*Cl.—Con.lst,g.5s, 1928 106
2d, inoom e, 6s, “ B ” .............1917
O. Col. Cln. & Ind.—1st, 78,8.1.1899 107V
Michigan Central—6s.............. 1909
Consol, sink, fund, 7s......... 1914
Ooupon,
58...............................1931 115
.........
Cin.*Spr.—lst,C.C.C.&I.7s.l901
M ortgage 4 s............................1940
Cleve. Lorain & Wh.—1st, 5s. 1933
Bat.C.A8trgis.—Ist,3s,g.gu .l989
CJleve & Mah. V.—Gold, 5s. . . 1938 i i 7 121*41 Minn. A St. L.—1st, g. 7 s.........1927 140
Del. Lack. *
Iow a E xtension, 1st,7s.......1909 '127
129
Mort. 7s............................. 1 9 0 7 126
Southwest E xt.—1st, 7s.......1910 127 129
Syra. Bing. & N. Y.—1st, 78.1906
Pacific E xt.—1st, 6 s ............ 1921 117
Morris & Essex—let, 7s....1914 143
M o .K A T e x .—1st, ext., 5s, g.1944
Bonds, 7s..........................1900 114 116
M o.K.AT.of T ex.lst,gu .5s.g.l942
f » 0 f 1871........................ 1901 114 116
Kansas City A P., 1st,4 s,g.. 1990 68
1st, oon., guar., 7s...........1915 140V 142
80
Dal. A W aco—1st, 5s, g u ....1940
WTarreu—2d, 7 s .................. 1900 111
Missouri P acific—Trust 5 s . ..1917
82
D.&H.Can.—Pa.Dlv.,ooup.7s.l9l7 142*8
1st coll., 5s, g ........................ 1920
70
Albany * Susq —1st, gu.,7s. 1906
129*e
St L .A I.M .-A rk .B r.,1st,78.1895 102i* 105
let, 00ns., guar., 6s.........1906 116 116*4 Mobile A Ohio—1st ext., 6s... 1927
Rens. & Bar. 1st, coup., 7s.l921 145*4!
St. L. A Cairo—4s, guar....... 1931
84
88
Denv. Tramway—Cons. 6s, g.1910
Morgan's La. A T.—1st, 6 s ....1 920 116
Metropol. Ry.—lst,gu. g.6s.l911
1st, 7 b....................................... 1918
Denv. & R. G.—Imp.,g., 5s...1928 *86 *s
Nash. Chat. A St. L.—2d, 6 s ..1901
106 H
Det.M. * M .-L. g. 3**s,ser.A.1911 18*4!
N. O. A. No. E.—Pr. 1., g., 6 s ..1915
Det. & Mack.—1st lien, 4s,g..1995 70
N. Y. CentraL—Deb. g. 4s___ 1905 102
4s, gold................................ 19 9 5
N. J. June—Guar. 1st, 4 s ...1 986 100
Duluth * Iron Range—1st 5s. 1937 103 V
Beech Creek—1st, gold, 4 s .. 1936
Erie—1st, extended, 7s......... 1897 105
Osw. A Rom e—2d, 5s, g.,gu,1915 105
2d, extended, 5e.................. 1 9 1 9 T 1 0
Utloa A Bl. R iv.— 4s, g., gu.1922 103
3d, extended, 4*418............... 19 2 3 105
N. Y. A Put.—1st, g., is . gu.1993 103
4th, extended, 5s.................1920 T 12
N. Y. N. H. A H .—lat, r e v .4 s .1903
5th, extended, 4s.................1928 T 02 104 N. Y. A Northern—1st, g. 5 s.. 1927 114 118
let, con., g„ f d, 7 s .............1920
N. Y. Susq. A West.—2d, 4*18.1937
73
B. N. Y. & E.—1st, 7s......... 1916 132
Gen. m ort., 5s. g ................... 1940 *65
69
Bufl. * B. W.—Mortg. 6s__ 1908 T 0 2 V
Wilk.A East.—1st, gtd., g.5s. 1942
86
Jefierson—1st, gu. g. 5s ....1909 101 105 Northern Pac.—Divid'd scrip ext. "7 2 ' 74
Coal ARR.—6s.................... 19 2 2
James River Val.—1st, 6 s...1936
Dock A Iinpt.,let6e. ouPoy.1913
Spokane A Pal.—1st, 6a.......1936
Evans. A Terre HauteSt.Paul A N. P.—Gen., 6 s ..1923 123
1st, cons., 6s....................... 1 9 2 1 108*41 109
Helena ARedM’n—1st,g., 6s 1937
1st, general, g., 5 s.............. 1942
75
DuluthAManitoba—lst,g
.6sl93 6
Mt. Vernon let 6 e .............. 1923
DuLAMan D a k .D iv .-ls t 6s.193 7
75
85
Bui. Co. Br. let, g., 5s......... 1930 ........
Oceur d’Alene—1st, 6s, g old . 1916
.........
Evans. A Indian.—1 st, cous..l926
Gen. le t,g ., 6s ..................... 1938
Flint A P. Maru.—Mort,, 6s... 1920 i i 4 115
54
Cent. Washington—lst.g..6s.l9 38
* No prloe Friday; these are the latest quotations made this week. F o r t i i a t e i l a u e o u * a n d
O.Ohlo—CoJ. * C ln .M .lst,4 »».1 9 3 t
95
Cent. RR. <S Buck. -C o l. y.6s.l9 3':
Cant, of N. J.—Conv. fieb., 6a.1908
Jent Paoifio—Gold bonds, 6e,1896 100*41 .
Gold bonds, 6 s......................1897 101 .
Ban Joaquin Br., 6s..............1900 *102
Mort. gold 5s.......................... ------1939 *80
Rand grant, 5s, g ................... 1900
Cal. & O. Div., ext., g. 5s. ..1918 *102
West. Pacific—Bonds, 6s___ 1899 103
No. Railway (Cal.)—1st, 68.1907
90U
50-year 5s..........................1 9 3 8
Jhes. A O.—Pur. M. fund, 6a .1898 104
Craig Valley—1st, g., 5a— 1940 95
Warm Spr. Val., 1st, g. 5 s.. 1941
Clies. O. & Bo. West.—1st 6s, g . 1911
Sd, 6 s....................................... 1911
Ok. V .-G en .oon.lst,gu .g,5s,1938
Chicago & A lton—8. F., 6 s.. ..1 903 116*4)
Louis. A Mo. River— 1st, 7s.l900|” 107*a
2d, 7s................................1900 *106
8C.L. Jacks.*CMc.—2d, 7s 1898 102*4

(You. LXII,
17.

SECURITIES.

Bid.

Ask.

N orfolk A South’ n—1st, 5s,g. 194?
Norfolk A West.—General, 6 s. 1931
New R iver 1st 6s................. 1932
Im p. A E xt., 6 s .................... 1934
Adjustm entM ., 7 s ................ 1924
Equipment, 5s........................ 190b
Clinch Val. 1st 5s..................1957
Md. A Wash. Div.—Ist,g.5s.l9 41
RoauokeASo.—lst,g u . 5s, g. 1922
Soioto Val. A N. E.—1st, 4s,.1996
Ohio A Miss—Consol. 7 s ........ 1898
2d consol. 7 s ......................... 1911
Spring.Div.—1st 7s............... 1905
General 5s...............................1935
Ohio River RR .—1st, 5s.......... 1936
Gen, g .,5 s ............................... 193"
Omaha A St. Louis.—1st, 4 s.. 1937
Oregon A Califor.—1st, 5s, g.1927
Oreg. R yA N av.—Col.tr. g ..5s.l91f
Penn-P.C.C.ASt.L.Cn.g.4VsA194<
Do
do
Series B .........
P .C .A 8.L .-lst,o.,7s................ 190<
Pitts. Ft. W. A C —1st, 7 s... 1912
2d, 7 s ...................................1912
3d, 7 s.................................... 1912
Ch.St.L. AP.—1st,con.5a,g... 1932
Clev. A P.—Cons., s. fd ., 7s. 1900
Gen. 4V8, g., “ A ............ 1942
St. L .V .& T .H —1 s t ,6 s .,7s. 1897
2d, 7 s.................................... 1898
2d, guar., 7s........................ 1898
Gd.R .A I.E xt.—lst,4V s,G .g.l9 41
Peo. AE.-Ind.B. A W .-lst,p f .7s. 1906
Ohio End.AW.—I s tp r e f.5 s ..l9 3 8
Peoria A Pek. Union—1st, 6s .1921
2d m ortg., 4 V s.......................1921
Pitts. Cleve. A T o l —1st, 6a... 1922
Pitts. A L. Er.—2d g. 5s, “ A ” . 1928
Pitts. Me. K. A Y.—1st 68----- 1932
Pitta. Painsv. A F.—1st, 5 s . ..1910
Pitts. Shen. A L .E .—1st,g.,5s. 1940
1st consol. 5s..........................1943
Pitts. A West.—M .5 s,g .l8 9 1 -1 9 4 1
Pitts. Y ’gst’nAA.—1st, 5s,con .l927
Rio Grande So.—1st, g., 5 s ... 1946
St. Jos. A Gr Is.—2d in c .........1925
Kan. C. A Omaha—1st, 5 s.. 192
St. L. A. A T. H .-T e r m . 5 s.. 1914
Bellev. A So. 111.—1st, 8 s ...i8 9 t
Believ. A Car.—1st, 6s......... 1923
Chi.St.L.APad— lst,g d .g .5 sl9 1 7
St. Louis So.—1st, go. g. 48.1931
do
2d in com e,5s. 1933
Car. AShaw t.—1st g. 4 s ....1935
St. L. A 8. F.—2d 6 s,g., ol. A . 1901
General 5s................................1931
1st, trust, gold 5s............... 1987
Kan. City A 8 1st, 6s, g . .. 1916
Ft. 8. A V. B. Bg. -1 s t , 6 s. . . 1916
Kansas Midland—1st, 4s, g.1937
St. Paul City Ry, c o n . 5s, g ...l9 3 7
Gold 5s, g u a r ..................... ..1 937
8t. Paul A Duluth—1st, 5e___ 1931
2d mortgage 5s.......................1917
St. Paul Minn A M.—1st, 7 s.. 1902
2d mort., 6s..............................1908
Minneap. Union—1st, 6s___ 1925
Mont. Cen.—1st, guar., 6S..193';
1st guar. g. 5 s..................... 1937
East. Minn., 1st div. 1st 5s. 190b
W ilm arASiouxF.—1st, g,5s.l93r
8an Fran. A N. P.—1st, g., 5s,191S
Sav.Fl.AWest. -1 s t, con .g .6s.l934
Southern—Ala. Cent., 1st 6s. 1918
Atl. A Char.—1st, pref., 7 s .. 1897
Incom e, 6 s.......................... 190C
Colum. A Green.—1st, 5-6S.1916
E. Penn. V. A G a .-D iv is.5 s 1930
Rioh.A Dan.—E q. s. f. g. 5s. 1909
Deben. 5s, sta m p ed .........1927
Vir’a Mid.—Serial ser.A, 6s. 1906
Series B, 6 s.......................... 1911
Series C, 6s.......................... 1916
Series D, 4 -5 s ......................1921
Series F, 5s.......................... 1931
Wash.O. AW.—1st our.gu.4s.1924
Ter. As’n o f St. L.—la t, 4 Vs. 1939
1st, con. g. 5s...............1894-1944
St.L. Mer. Br. Term., g. 5 s,gu.. 19 3u
Texas A New Orleans—1st,7s. 1905
SaDine D ivision, 1st, 6s....... 1915
Consol. 5s, g ................. . ........194c
Tex. A Pac., E. D.—1st, g. 6s. 1905
Third Avenue (N.Y).—1st 5s, 1937
T.AO.C.—K an.A M ., Mort. 4s.l990
Tol.P.AW .—lst48,ino.Fd.eou.July
Ulster A Del.—1st, con.,6.,5s,192t
Union Pacific—1st, 6 s..............189t
1st, 6s.......................................1897
1st, 6s......................................1899
Collateral Trust, 6s.............. 190b
Collateral Trust, 5s.............. 1907
Kansas Pacific—1st 6s, g ...l8 9 5
1st, 6s, g ............................... 1896
C. Br. U P - F . o., 7 s.......... 1895
Atoll. Col. A Pac.—1st, 6 s... 1905
Atch. J. Co. A W.—1st, 6 s... 1905
U. P. Lin. A Col.—la t,g., 5s. 191b
Oreg.S.L. A U.N .,ool.trst.,5s.l9U
Utah A North.—1st, 7s........ 190b
Gold, 5 s................................1926
Utah Southern—Gen., 7s . 190i
Exten., 1st, 7 s................... 190b
Valley R ’y Co. of O.—Con. 6s. 1921
Wabash—Debenture, Ser. A ..1939
Debenture, Series B .............1939
Det. A Chic. Ext. 1st, 5s, g .. 1946
St L.K.C.AN.—St.C.Bdge6^.190f
West N.Y. A Pa.,gen.g. 2-3-4s 1943
Income 5 s............................... 1943
West. Va. C. A Pitts.—1st, 6s. 191
Wheel.AL.E.—1st. 5s, g o ld ... 1926
Extension A Imp, g., 5s.......19SC
Wis. Cent, inoom e 5 s...............1937

105
123
114
118
105
80

110

”67*
86
103% 104 V
105

ioT

*o7
52 V
76

90

107 V 108V
107 V 108 V
140

129V

114
117
105
10234
1023*

111
72

—

......... .........
88
.......

■56”

105“ i o e ”
104
101*41
85
70
84
115V i.1 7
95 V
87%

*90
85

95

101

ioT'

116V H 7
125
115 117
101 10 1V
165
TOO
110
U7

114
110

1 1 I V ....... .
*97
99
100 102

80

103 V
*95
105V
120
*80
78
102
105V
1(5
105V
*95
*70
108
108
33
*30
33

123
80V
105
105 V
106

38
31

67
65
26V
97V
105
43
14

27
98V
45V
15

97

92 V
10
U n l i s t e d B o n d s . —«e e 3d page preceding.

THE

A pril 18. 1*96.]

C H R O N IC L E .
R oads.

J t t t t je s im m t

719
Latest Gross Earnings,

WeekorMo\

1890.

1895.

Jan. 1 to Latest Date.
1890.

1895.

XKD

R a ilr o a d In te llig e n c e .
RAILROAD

EARNINGS,

The following table shows the gross earnings o f United
States railroads (and also a few Mexican and Canadian roads)
for the latest period reported. The statement includes every
St e a m road from which regular weekly or monthly returns
ca n be obtained. The first two columns of figures give the
gross earnings for the latest week or month, and the last two
col iinins the earnings for the calendar year from January l to
aBdt ncluding such latest week or month.
The r et u r n s o f th e s tr e e t r a ilw a y s a r e n o t in c lu d e d in th is
ta b le , b u t a r e b r o u g h t t o g e t h e r s t p a r a i e t y o n a s u b s e q u e n t p a g e ,

Latest Gross Eamvngt,
Week or Mo

1886.1

f

1895.

S

Jan. 1 10 Latest Date.

1896.
-

1895,

5*

Illinois Central.iMstreli....... 1,570.685 1,588,284 ] 5,033,322
Fnrt.
if!. wbTipf.
l.i
i.tfl
i-7~. i
(nrt. Dee.®West 1'4tli
wk Dec
10,328
14,146
475,188
Ind. 111. & Iowa. Febrnarv..
77,617
156,632
67,133
In. A Gt-Srorth’ B 2d wkApr.
57.065:
47,433:
875,783
: Interoe. (Hex.) WijMar.2S
44,000
-17,910
556.176
Iowa Central, .. . 2,1 wk Apr.
29,538
24,290,
568,362
Iron Railway... March......
4,475'
12,573
4,60S;
Jaok. T. 4 K. W. February..
30,669
59,201
40,739!
Jamett'n AL.-E.;3aptemb'r.
4,265;
4,362
31,243
Kannwha&Mlel j vat wk Apr
8,559:
7.377
124,506
K.C.F.8eott <fcM. Ut wk Apr
70.549
75.877] 1,154.581
K.C. Menus: Bir. j u t wk Apr
16,446:
16,430'
312.736
Kan. C. 5 . W .... March......
20.066
21,700
64,365
\ Kan.0. A Beat. March.......
330
757
SOS
! K.C. Pitta. & G -.'2d wk Apr.
10,260!
170.700
12,650:
Kan,C.Sub.Belt 2d wk Apr.
1.942
3,071
73,562
Keokuk & West. tth wkMar
9,051;
97,073
8,538
L. Erie All.& So. March.......
5.727
0,702
18,14.7
59,654,
60,044
899.974
j L e ^ S * H u d " M ^ -h Apr! 33.334
33,015
97,538
14.6551
32,142
10,578
*J-aSt' 5 “ _______
* _
Long Island.......]M a r c h 236,0 i l 267,068
637,403
Ang, Term. Alare-h.....
15.911
6,589!
23.86*1
I-ouie.K v. A S t.L . ‘ l at w k Am-!
26.920
21.907
402,355
Louisv.&Naanv. ut. wk A pr 346,08** 310.515 5,221.632
Louis.N.A.&Oh, u tw k Apr
_____
01,073'
771.700
60,253
Lou. SLL.A Tex. March. . . .
37,201
105, €25
32,077
ifaoouA Blrm.. Mttroli.
' —
17,414
6,021
Manistique........March
11.307
33,108
MempbisAOhaa u t wk Apr;
18,808
860,209
‘ Mexican Cent.. Ut wk Am 188,079] 176,030' 2,652,440
Mexican later'l. January “
234,547 190,910!
234,547
IMex. Satlcnal. u t wkApr
76,109,
81,507] 3,237,649
73,229
hex. Northern..:February.
119.177
45,753'
IMexlcanE’ waj WkM.-tr.38
58.000.
794,793
65,895
Mexican 8 o ....f'3 d w k Mar.
117.975
8.390
Mianeap.ASLL- j,l wk Apr.:
32)400
520,074
32,930;
M.SU*.AS,8t.M u t WkApr
04,290
46,932
841,274
Mo. Kan. A Tex L ist wk Apr. 212,070' 209,432 3,033,727
Mii.Fue.Alrou M 1st wk Apr 364,000 302.000 5.619.000
central BFeh, u t wk Apr:
11,000
12,00*.'
180,000
Total.. . . . . . . . Ut wk Apr] 376,000] 373.000 5.799.000
Mobile A B'.rm. <u t wk Apr,
4,032
76,524
0.525,
291,431 883,812
M obile* Ohio.. March...... .....
881,302
Moiit.&Mex.Glr March___
102.359: 119,730]
293,993
Nash.Ch.* Ut, L..M arch....... ; 404.943
394,672; 1,287,879
Nevada Central .Febmarv.
"
1,911
1,983]
3,608
S - Jereey * N. Y. iDecernher.
27,492'
27,2 10
350,543
New Orl. & So'n. December
7.890;
12,603:
89,026

16.103
Adirondack-..- February,
26,143,
40,616
282263
Aia.Gt.Soato.. i *t wk Apr
23.462
360,052
23.650
S3 4,295
Ala. Midland. . [February.
54,8037,070
119.< 31
84,119
Allegheny Val. February.. 171,823 109.058
360,539
343,722
Ann A rbor..---- 2d wk Apr.
20.002
23.122
31.8,991
285,390
Ark. Midland... {January...
S.502
____
9.023;
8,502
9,023
Aten. T. A S. Fe iFebruary.. 2,208.952] 2,068,703 4,693,016 4,303,845
Atlanta A Char. February., 12-.743I 107,212
256.101*
239,713
Atlanta A W. p February,
45.9S0'
34,876
'
73,4*01
96,899,
12,184!
AUan. A Danv. 1st wk Apr
139,831
1*3,622
127.649
Augusta 8<>ut’n. February..
8,197
3,331
13,440
6,873
Austin ASTweel February.,
18,617;
18.327
30,217;
29,594
Badt-Ohe*.* Au. February,.
23,1.73
11,324
49.292
38,019
B.AO.Eagt Line- January... 1.3-5,877 1.229.219 1,3 85,677 1,229,319
Western Blues January... 443,068 489,210
443,068
469,216
Total........... January.. 1,828^45; 1.698,435 1,?28,045 1,698,435
• ai.A O .S ou 'w 2d wk Apr. 114.355 115.273 1,727,660 1,774.190
BangorAAroost. February..
54,839
53,291
104,664
102,045
Bath A Hain'nd- February..
1,637
1,721
3,684
3,356
Blr. A Atlantic. March.....
1.004
1.670
5.580
3.843
Brooklyn Kiev 2d wk Apr.
33,763
38,5481
529,876: 063,491
Bransw'x* West ‘December
40,261
532,006
49.140
536,180
BaH.Roeb.APlM •id wk Apr.
CO. 158
17,561' 823,824
.
791,066
Bar.O.Rap.ANi l»t wk Apr
6-.038
68.516 1,217,420
041,212
Camden A A u . February.,
39,977
35,144
82,224
74,074 N.Y.C.* H R...March...... 3,799,093 3,718,42010,484,600
CanadianFacllt 1st wk Apr 336,000 23*1.00* 4,027,053 3,652,327 5, Y. Out. * W ..;u t wk Apr
59.753
55.51*8
810,927
.. . .
N.Y.SU8U.*W.MFebruary.. 144.108 137,0*4
CapcF.A Yad,V. 3d1wk IJan.
322.683
12,1X12
9,329;
Car.MidUml
"
* ... March,
3,045
1.19 *i
14,706
0.247 Norfolk * H im: u t wk Apr 201,21*9 203.202: 2,972,272
Cent, of Georgia Pebmary.. 507,144 363,767 1,010,90 4
8,855;
4,092
12,960
787,009 Northe'rn tGa.; 'February,.!
Centra! of H.J February.
'
442,778: 444.484
953,987
821.560} 793.735 1,831,117 1,046,168 North'll Central February.
Central Pacific. J a n u a ry .,. 856.490 786.9051
305,481 303,720 3,177,057
706,905 North'n Pacino cm wk Mar
850,490
Char. Cl. & bat,. February.
2,936
1.470
5.892
8,3671
l.OOli
8,246;'
4,205 Ooonee * West ;February. !
0harie*F»A8»i February.
19,097
16,407
235,182
67,873; 40,574! 121,351
101 015 Ohio Elvar........ ! 1st wk Apr!
Obee, A Ohio ... 1st wk Apr 177.21- 171,000 2,700,411 2,100.100 Ohio Blv. A Char March.. ..
17,80.4
18,303
55,1247
Cbe*,0„S8o.W.. Match. ... 186,077. 197.30'.!
03,255
04,244
198,378
r»3!*,411 Ohio Southern. [March . .
583,438:
Chle.Bor AU d February,.i2.508,41tt!2.19o;«Ofl 8,102,021 4.56 N. 110 Oregon Imp. 0 « fFebruary.. 220.960 235,073
471,163
Chic. A East.fb l*t WkApr
74,870:
60.91)6] l 080,247
017,371
976,933 Paolfle Mall.. . . JFebruary. -1 348,897 334,581
Ohio. Ot-Wcam
" •
4,040.034 4.419.U34 9,639,905
. i •. .
1,190.102
779,258 Ponn»yiv»iua.| . February..
Caie.MtLA8t-P (2d Wk Apr.. 548,365: 157,204! *.481.855' 7,031.-12 Peor!aDeo.<tL» Ut wk Apr
13.4171
15,040
230,012
Chle.A.fthw'n 1February..<2,384,172! 1392,01 *; 4,831 .Alt' 3,827,178 Petersburg........ February .
45.084]
37,218
91,940
OMe.Pco.Ast.n Ut WkApr;
16.029
15,575!
208 120
535,777
224,625 Phil a. A Kr:..,. February.. 248 682 233,791
Ohio.B’k I» * P .. March
i1,2? 5,001!J, H*71*30! 3,570,000 3,333,249 Phils. A: Ifcad'g, February.. II,350,800 1,444.842 3.075.759
Coal A ir. C o... February. .1,501 341 1,975,227 3,357.769
PblaBt.F.M.Au FVbnmry.
5<tt,*t2 443.50 »j 1.174.5!***
907,611
Total bo tit Co*. February.. 2.«.'*4.047:3,42O,O09 8,433,551
OhlC.AW.Mlea
33,673;. 385,007
403,939
Cln.G*. A Ports
02,098:
61,95?
769,963
13,451
4,854:
13,413 Pin Read.:* N*.E, December.Cm Jack.* Mac,
..........
arch....... 1,209.289' 1,175,225 3,625,353
18.1,511
9,482
153,981 Plttc.C.C.A»t.L M
Cm. A.O, * T. t3.358
3,341
10.206
624,252: 798.177 Pttt*. Mar. .VCn M.ircl.___
2--.330
l*f. Orl. * .s, E,
12,6*0;
8,817
161,771
307.000.
22,000
2 -7 ,;., . PltL8bon.dcL.E. list wk Apr
Ala. * Ylok.b.
Plttab. * West Htwk Apr
28,228
30.809
372,674
128.000
•*.0*>'
lpy,'.-2
Vlek».8h. & P
Pitta, Ol.&Toj.; 1st wk Apr]
14,4181
14.744
7,0013
188.832
111,983
117,000
tta . Ports, at V . _____ ____
Pitta. Pa. A F., 1st wk Apr
4 02.4:
53,402
4,461
19,273
63.648
56.204
Total
system..
Dt
wkApr
01ev.Can.A8o.. diet wa Apr
47.269
018,067
30.034
150.393
10.801
154,991
OuCan.Ch.A8tt 1st wk Apr
67.043
81.036
138,627
250,548 3,293,33- 3,377,394 Put. Young.,va . [February..
Pm>, A East'll- February..
20,433
72,183
2 1 , 1*2.1
127,721
294..
>09260,678 Qulnoy U.A K.C. March.......
CL L or.* Wheel. 1*1 wk Apr
54,7 ,7:
49,755
109,015
21,952
307,020
281,83*5 Kich.Fr'tab.*P,;February..!
Ool, Midland__ March.....'
in
ob.
*
Petersb.
'February..
20,062’
54,6 13
22.212
132,012
343333
440,145:
Co!. H .V .A T oi March......
7,981
111,815
0,715
175,12V
022,057;
558,46 1 Bio Gr. Boutn'n u t wk Apr:
O il Sand’y A H 1st wk Apr
Bio
Gr.
Vfmt'a..
24
wk
Apr.
43,200
39,500
671,470
12,836
195,021
Ouia*a A Lake . March,....
8,220:
21,630
1,3 Ob
8,683
3,500 Bag.Taaoota&B March
Crystal.—
February,.
Bag. Val. * St. 1* [February..;
0,404
12.993
6 051
748
2,193
1.387
CumbV.SValle) February.,
. ____
34,1*20
33,050
120,901
322,108
109,014 8L L. A. * T . H. Ub wkMar
D-JUV. A Bio ur 24 « Apr.,
4.870
13.150
2.479
124.700 U t 7 7 .lt ! 1,721,867 St-L. Ken’et&So. ■Match.......;
Dea M. A Kan, C tth wkMsri
970,320
29.1*1
20,272 St. L.ASan Fran, iFebruary.. 483,470 413.401
pen M. N. AW ,. [March
80.300
79,900 1,310,100
71,128 . 8 t.B «o«h w 'rn . 1st wk Apr
118.086.
D*t.Lan»'gASo ; 1st wk Apr]
8t. Paul&Dul’ tb March....... 103,093
292,236
08.531
240,749
273,91
*
>
Del. A Maoklns-:February,
271,301
B2.647,
10,71 ■ San A n t.* A.P. February,. 127,520 129,380
DttL.fcIr'nRange Vo-, ember,
49,724
2,155,613 1,600,029 a.Fran.AN.Pao. March___
57.503
146,978
DulBths.S.AAt. 1st wk Apr
6.08.7-9
458,020
421,802 4»v.l- ia.,t: Weal, February. - 285.130! 250.040
■telo-Jni. a Ba**. March.......
.
3,37•3,1.90
343,70
20Og|1.M> ; Ssiex.BDrev.A8o 34 wk Mur
01,770
Krle...... ........... February, j ,122,079
14
30,442
13,790
4,438,191: 4,034.335 Sil. 3p». O. & <J February..
Eureka Springs. February.
1.001
6,
6.300
0.31*8:
8.947 ! Silverton,,...... . January...
■wawMktod’pllf.Ust wk Apr
1,487]
77,-05
3,020
1,32*
76,346 : no. Haven* Eaal March......
Evan.*, A Rich. -Ut wk Apr
25,O.'»0:
24,081 j bo. Paoiuo C o.*r»n «v A T , H 1st wk AptGaLHar.AS.A February,. 385.870; 837.601
290,033]
880.433
260,235
Fitehbarg........ February.
70.331
l,i»0i*,03‘.*i 902,912 i Louls'aWegt.. February,
172.828
73,638
flin t * P, Afaru ; lit wk Apt
MorKan'sIaliT. February.. 401,015 400,293
910.585
744,-1 i 1
030,010
FSa.Ccui. AFeo.f Ut wk Apr
N.Y.’r.&M ex. February..
13,627
29,371
13,319
» IV'th * l*--r,.* '.f;inuarv.
228.401
7L(i0i
90,010 ' Tex. AN. Orl.. February.. 100,295 111.0 5
Fi. W. * Bio Ctr 1st wk Apr
956,791 2.230.603
102,489
105,447 ; Atlantic «>*.*. February*- 9*9.0
Bads. * Att. C. Afar.-h ,
Pad do system February,, 2,464.332 2,297,992 4.847,070
2,hue:
1,761
G eorgia8R---- Jt«t wk A;
Total o f all.* February.. 3,702,400 3,516.017 7,045,467
21.00450,4*2:
343,431
Georgia * Ala .L ist wk Apr
8o. Fao. of Cal January,.. 799,098 692.931
799,098
7.7<*5
102,3*8'
114,904
Sa, Car'ia A Ma. Febr** ary, ■:
8o.Pae.of Aria January... 217,977 107,475
54,1*32
217,077
171,407]
121.357
0*>.So. * Fla.. March...... s
62,097
221,9791
103,043!
32,062
190,402 : Bo.Pae.ofS.M January,.. 103.048
Or. Bap. A Fort 1st wk Apt
Northern B y ,. J un uary.,. 153,980 141,467
42,331
523,23*'
504,935
15 1.980]
Ctu.KAFLW 1,1 WkApr
8,584
109.741
110.358 | »out.hern B y... lot w kApr 808.048 320,588 4,950,* 11
f ravers*CUy. 1st wit Apr,
___ .... .IS p o t F ’lsJsNor. February..
822
10,340
14.543
26,003
12,153.
51,781
Mo, el. E. 4r t ; 1st wk Apr:
2!J,763 8t»t«n 1»1. K. T, February..
1.837
07,627
130 3 9 1
34,0991
82,261
Tot, all line, u i wk \t-*
059,197 f btooyCl.MBSt.. February..
2,107'
047
995
53.574
809.232;
Grand T run k ,.,:Wk Apr. 7*
Summit Branch. February,.
332.818 4,3**,32- 4,325,210
00.240
151,404
67,700
Ohio. * Or-Tr. Wk Apr. 7!
Lyk. Val, Coat February.,
07.014
573)02
150 477
871,063
67 *97
864,873
I
Det.Ur.H_AM WkApr. 7
Tot'I both OCe February.. 135,608 188,054
19,529
225,1*5;
227,492
304,881
Star * Chicago. March,__ 3,70.)
1*1,001,
10,57(1 ! Texas A Paw»l»« 24 w kA pr. 104.700 ,115 SOS 1,0 *7.0)3
Brest Verily a
rexS.ValAN w March......
8,072
3,017
2,237
6t.P,M. * M M irrth__ 1,102,121 919,480 2,834,816. 2.293,301 1 r •i.AOhioOnt. 34 wk Apr.
497 493
28,554
38.883
KastofKlnn,. M tci , .. ' i u,72:»
81,425
3.59,767
283,730 ; roi.P. A West.. 1st wk Apr
209.433
10,361
16,389
Montana' -nt '* ■< i
151.630 132.62?
450.173:
_______
(O lu B .L .A K .C 1st wk Apr
30.889
37.731
498,984
Tot,system March . . . . '1,385,1-0 ,138,532 3.011,7*6 2.900.043 ! OiatarA D * l.., February
22 060
19,272
46,823
Tnos,Tnii,*Wll.'Jt*reh __
1,853
1.72(1
7,482 ,nit*n Paoino—
0.373
»ioas,AT*x.f>u. January... 273,532 310,116
273,532;
3 1«,U 0 Un. Pac. KR.
February.. 025 467 940,344 1,802.796
Honierrt*n*SB»B March......
11,400
8,379
751) 283
33,200
8.L.AU.N. February.
25,042
303.543 306 Sflb

4,607,744
427,084
139,115
950,782
604.023
417,814
12,193
119,660
33,749
98,498
1,110,054
257,481
56,380
1,026
144,982
52,816
81,248
21,096
885,417
102,096
25,540
860,560
46,759
343,294
4,916,666
723,142
91,239
19,022
30,369
275,349
2,493,194
196,916
1,130,828
87.861
803,602
104,318
441,103
576,039
2,887,247
5,437,306
147.401
5,584,707
75,510

785,314

325,081
1,118,308
3,439
331.401
102,405
9,035,818
858,949
358,841
2,548,021
8,659
939,478

2-7t l S

163,341
44,407
188,010
408,249
671,124
9,097,905
238,472
75 957
-192,951
3.013,150
3,869,184
6.881,334
079,126
3,367,204
9.918
113.024
346,049
190.580

50,521

60,5,004
164,801
58,449
103,953
45,929
91.180
520,790

26,615

12.324
322,991
8,413

866,623
1,320,200
209.322
323.089

144.682

075.170

,77,289
25.212
1.604
2,349

721,119

201,704
270,14 0
2,395,031
4,430.074
7,463.412
692,931
187.475
82.062
141,467
4,603,218
33,175
120,419
2,3-44

M

847,030

1,918,801

11.180

150.064
240,094
491,553
41,905

1,910,964
037 Sift

720

THE CHRONICLE.
Latest Gross Earnings,

Jan. 1 to Latest Date.

Ho a d s

Week or Mo

1896.

Un. P a c . — Con.

8t.Joa.AUd.Is February..
47,624
6,744
Kan.C.AOm February..
Tot. St. J .A G . r. 3d wk Mar.
12,505
Oent-Br....... a 1st wk A pr
12,001)
Aoh.Col.AP. > February..
22,794
Ach. J.C.A W (
Oen.Br.AL’dL. F ebruary..
53,953
Gr*d total.'* February.. 1.508.077
U. Pao.D. AG February.. 206,768
Wabash............ 2d wk Apr. 227,710
Waoo A Northw January...
19,13-)
89,567
West Jersey___ F ebruary..
W.V.Cen.APltt? M arch....... 102,419
27.534
Ja
n
u
a
ry
...
WeBt Va.A Pitts.
47,931
Western of Ala.. February..
98,737
West. Maryland December.
53,600
West.N.Y. A Pa 1st wk Apr
26,543
Wheel. A L. Erie 2d wk Apr.
71,5*9
Wisconsin Cent 2d wk Apr.
8,683
Wrlghtav.ATen. February.

1895.
• I
42,312
5.794
15,151
11,000
21,996
43,188
1,433 873
206,017
220,576
23,683
80,240
84.319
22.917
38.351
92.351
63,100
25,239
70,943
4,896

1896.

4th week o f March.

1896.

Prev’ly reported (70 rMs)
Chicago A Grand T rim s.
Des Moines A Kan. City.
Det. Gr. Hav. A Milw___
In te r o ce a u ic ..................
Keokuk A Western..........
Memphis A Charleston..
Mexican Railway . . . __
Western N. Y. A P enn...

*
8,113,866
81.816
2.352
24.935
44,000
9,051
39,049
58.000
80.000

Total (73 roads)............
Net inorease (3*65 p. o.b.

8,413.069
............

1895.

90.559
12,211
146,342
146,934
42,597
85,122
116,291
3,062.679 2,937,995
444,731
447.150
3,338.978 3,20 *,409
23,683
19,138
163,110
181.914
221,677
273,050
27,5 14
22,917
79,231
99,788
1,248,453
1,298,187
739,616
682,09
343 505
342,827
1,053,70*
982,358
17,772
10,804

* Figures given do not inolude Oregou Ry. A Nav., Un. Pao. D enver A
Gulf, Denver Leadville A Gunnison, Montana Union and Leavenworth
Topeka A South western, a These figures inolude results onl eased linee.
b Includes earnings from ferries, etc., not given separately. 1 M exi­
can ourrenov. c Includes only half o f lines in whioh U n'on Paoiflo has
a half interest.
d Inolude3 operations o f the Chic. Burlington A N irtliern in both
years.
§ Covers results for lines direotlv operated east o f Pitt9burg.
e Inoludes results on aililiated lines.

[VoL. LXII.
1895.
$
7,812.077
75,010
2,538
.24,820
47,910
8, 35
34,797
65,895
83,400

%
250,734

il5

.... ...

8,154,982

564.212
298,087

............

Increase.

Decrease.

516
4,252

.......

7,895
3,400
266,125
..........

9 r o s Earnings.-----,,-----Net Earnings. 1895.
1895
1896.
18£6
16,103

26,143

169,058
171,823
A llegheny V alley— Feb..
345,722
360,539
Jan. 1 to Feb. 29 — .
8.502
9,023
Arkansas
M
idland...Jan.
$
$
$
8
. 2,208,952 2,063,703
2,188
23,462
25,650
Alabama Gt. Southern..
4.693.616 4,303,645
Jan. 1 to Feb. 2 9 ..
18,545
2,088
20,633
Ann A rbor.......................
20,102,978 19,383,851
July 1 to Feb. 29
1,438
13.622
12,184
Atlantic A D a n v ille .......
10,159 A tlanta A W. Point..Feb.
114,814
124,973
Balt. A Ohio Southwest.
45,986
34,876
2,422
35,523
37,945
Brooklyn E levated..........
75,901
96,899
Jan. 1 to Feb. 2 9 __
_____
4,871
57,580
Buffalo Rooh. & Pittsb’g.
52,709
389,995
335,493
July 1 to Feb. 29 ....
1,542
Burl. Ced. Ran. A North.
68,058
66,516
27,093
43,359
Atlantie
A
Danville
.
Feb.
40,000
296,000
336.000
Canadian Pacific.............
83,106
65,499
Jan. 1 to Feb. 29 —
171,960
5,258
Chesapeake A O hio.........
177,218
331.609
340.604
July 1 to Feb. 29 . . .
9,974
7S,87o
........
Chicago A East. Illinois
68,8*6
3,331
8,197
Augusta Southern. . Feb.
49,341
548,814
499,471
Chicago Milw. A St. Paul.
13,440
6.873
Jan. 1 to Feb. 2 9 ...,
2.454
18,0 J9
15,575
Chic. Peoria A 8t. Louis.
5,455 Austin A Northw.. .Feb
33,673
Chicago A West Miohigan
28,218
18,617
12,327
2,816
9,482
Cin. Jackson A Mackinaw
12,298
29,594
Jan. 1 to Feb. 2 9 ....
39,217
499
Cleve. Canton A South’n
11,290
10,801
21,394 Baltimore A Ohio—
Clev. Cin. Chic. A St. L ..
229,154
250,548
,
1.385,877
1,229,219
Lines
E.
O.
R
.b
.-.J
a
n
.
21,952
286
Clev. Lorain A W heel's..
22,238
July 1 to Jan. 3 1 .. .10,997,534 10,637,280
______
Col. Sandusky A H ook’g.
623
12,263
12,8-6
469.216
Lines W. O. R .b . .Jan.i. 443,068
Denver A R io G ran de....
109,300
14,900
124,200
. 3.564,423 3,140,851
Ju ly 1 to Jan. f
Detroit Lans’g A North’n
154
20,586
20,432
.
1,328,945
1,698,435
Tot.
bo
til
sy
stems
b.
Jan.
1,103
Duluth 80. Shore A A tl..
27,732
28,835
July 1 to Jan. 3 1 .. .14,561,962 13,778,131
Evansv. A Indianapolis..
282
5,277
4,995
Balt. A Ohio South\v. Jan.. 48 3,817
Evansv. A Richm ond—
789
501,775
2.48
1,698
July 1 to Jan. 31 — , 3,939,049 3,82 7,542
Evansv. A Terre H aute..
20,382
285
20.667
1,150 Bangor A A roostook. Feb.
Flint A Pere Marquette
50,507
51,657
53,291
54,639
Fla. Cent. A Peninsular..
42,914
51,852
8,936
Jan. 1 to Feb. 2 9 ,....
104.664
102,645
1,748
Ft. Worth A Rio Grande.
6,292
8,040
1,637
1,721
____
G eorgia..............................
2,605 Bath A H amm onds... Feb
22,203
24,808
3,684
Jan. 1 to Feb. 2 9 __
3,356
Georgia A A labam a........
7,563
15,268
7,705
Grand Rapids A Indiana
3,246 Birm. A A tlantic, b .Feb
42,331
1,110
39,085
1,847
800
Cincinnati R. A Ft. W ..
8,584
7,784
Jan. 1 to Feb. 2 9 ___
3,976
2,201
Traverse City................
44
778
822
July 1 to Feb. 2 9 ...
18,982
12,333
Musk. Gr. Rap. A Ind .
992
2,829
1,837
». 147,027
201,161
Grand Truna o f Canada.
341,012
8,194
332,818
.
308,^07
419,090
Chic. A Gr. Trunk------67,467
57,062
10,405
. 1,268,482 1,232,340
Det. Gr. Haven A Mil..
1,016
18,513
19,529
49,261
49,148
___ __
Intern’l A Gt. North’ n .. .
60,406
1,852
62,258
.
532.008
536.180
4.712
27,565
Iow a Central....................
32,277
.
288,478
283,599
Kanawha A M ich igan....
1,182
8,559
7,377
Kan. City F t. 8. A Mem.
70,549
5,328
75,877
.
218,262
181,734
Kan. City Mem. A B irm ..
10
16,436
16,446
Jan. 1 to Feb. 29
.
474,176
419,941
Kan. City Pittsb. A Gulf.
9,915
25
8,940
. 2,111,201 2,070,265
Kan. City Sub. B elt........
. 1,560
5.066
3,50S
.
351,238
27 J,238
Lake Erie A W estern.__
60,044
59,654
390
.
743,944
557,949
Louisv. Evansv. A St. L
2,013
26,920
24,907
Camden
A
A
tl......
a
..
Feb.
>
.
39,977
35,444
Louisville A N ashville...
346,080
340,515
5,565
Jan. 1 to Feb. 1
Louisville N. A. A Chic
82,224
74,978
61,073
820
60.253
Memphis A Charleston..
18,235
18,868
633
i. 1,325,256
992,032
Mexican Central.........
176,090
186,079
9,939
. 2,800,053 2,163,068
M exican National.......
81.507
76.109
5,398 Carolina M idland....Feb.>.
5,657
2,183
Minneapolis A St. Louis.
30,345
29,574
771
Jan. 1 to Feb. 2 9 ...
10,861
5.048
Minn. St. P. A 8. Ste. M ..
46,952
17.338
64,290
46,168
40,635
Mo. Kansas A Texas. M
212,076
208,432
3,644
Mo. Pacitio A Iron M t___
.
507,144
363,767
364,000
362.000
2,000
Central Branch........ H
. 1,018,994
11.000
787,669
12.000
1,000
Mobile A Birm ingham ...
4.032
.
3,956,329
6,525
3,620,277
2,493
Hew York Ont. A West'n
59.753
55,598
4,155
i.
821,550
793,735
Norfolk A Western.........
201,299
205,262
3,963
. 1,831,117 1,646,168
Ohio R iver........................
19,097
16,407
2,690
Central
Paoittc.b......
Jan.
l
.
856.490
786,905
Peoria Deo. A E v a n sv ...
15,040
13,417
1,623
12.580
Char. Glen. A Sutton . Fel).
Pittsb. Shen. A L. E rie..
3,367
8,817
1,901
3,763
Jan.
1
to
Feb.
2
9
...
Pittsburg A W e ste rn ..^ !
47,269
50,« 34
8,250
4,205
2,765
7,9*4
Rio Grande Southeim___
6.715
1,269
Char. A Savannah. ..F ebi.
67,873
48,574
Bio Grande Western—
38,700
38,000
700
Jan. 1 to Feb 29
.
121,351
101,815
St- Louis Southwestern.
80,300
79,900
400
July 1 to Feb. 29. .
340,9->1
355,975
Boutlieru R ailw ay.........
306,046
328.538
22,492
646,948
107,032
Texas A P acific..............
109,462
2,430 Ches. A O blo.a. ....... F ». 781,509
Jan. 1 to Feb. 29. . 1,721.033 1,428,052
Toledo A Ohio C entral...
26,079
31,2 SO
5,201
July 1 to Feb. 29
. 6,926,100 6,430,226
Toledo Peoria A West’n ..
16,389
16,361
28
37,732
Tol. St. L. A Kan. C ity..
30,885
Ches. O. A So’ wn.b..Jan,l.
203,295
6,847
176,930
205,821
Wabash..............................
213,879
. 1,541,444 1,394,235
8,058
53,600
West. N. Y. A Penusylv.
63,100
9,500
>. 2,568,416 2,190,609
19,797
Wheeling A Lake E r ie ...
24,771
4,974
. 5.162,021 4,565,440
Wisconsin Central..........
71,537
80,355
8,821
Ohio. M. A St. P .a .. .Feb>. 2,305,680 1,927,522
----- __ _____
— ■'
' -■ . 4,635,302 3,821,900
>,623,903 5,512,811
247,254
136,162
.22,703,024 18,616,991
Net increase (2 01 p. o.)..
111,092
........
>.
121,368
116,027
I Earnings laBt year were incroaaed hy strike ou trolley road.
Jan. 1 to Feb. 29
.
236,778
230,030
58,912
43,946
For the fourth week of March our final statement covers Oln. Jack. A M ack.b.F eb>.
Jan. 1 to Feb. 29-- .
111,202
96,432
78 roads, and shows 3'03 per cent gain in the aggregate.
July 1 to Feb. 2 9 .. .
410,268
397.702
1895.

186

3,910

Net Earnings Monthly to Latest Hates.—The following
show s the gross and net earnings to latest dates of all S tea .m
railroaos furnishing monthly statements. The compilation
include! every road from which we can get returns of this
charactei anil in that form is given once a month. Early re­
turns ar. published from week to week, as soon as issued, but
for th> convenience of our readers all the roads making re­
turns ar. brought together here in the week in which we pub­
lish oui monthly article on net earnings—say on or about the
20th of the month.
The returns o f the street railways we give by themselves
under a separate head at the extreme end o f these tabulations
—see page 723.
Roads.

1896

Decrease.

$
552,523
6,806

Latest Gross Earnings by Weeks.—The latest weekly earn­
40,646
28,263
Jan. 1 to Feb. 2 9 ..
103,011
ings in the foregoing are separately summed up as follows:
103,786
Alabama G t.South.aFob.
240,541
225,631
Jan. 1 to Feb. 2 9 ...,
For the first week of April our preliminary statement
July 1 to Feb. 2 9 ,... 1,157,461 1.081,997
oovers 74 roads, and shows 2-01 percent gain in the aggregate Alabama M idland— Feb.
37,079
54,808
84.119
119,031
Jan. 1 to Feb. 29 — .
oyer the same week last year.
381.791
439.078
July 1 to Feb. 29---1st week o f April.

Increase.

7,928
16,843
12,268
22,543
20,077
26,280
55,381
69,086
430.399
404,731
10,848 def.5,371
29,020 def.2,972
83.297
30.788
52,770
54,280
106,951
115,434
3,028
5,242
616,682
378,247
1,380,318
857,532
4,925,833 4,774,020
20,098
13,783
42,484
32,006
167,198
146,740
7,372 def.4,270
12,1-13 d e l l , 132
88.232
47,129
3.716
def.573
5,332
208
def.911
4,465
9,485
4,505
353.776
3.626.111
54,450
887,001
408,226
4.513.112
120,056
1,389,649
21,817
40,236
326
1,064
def.285
def.134
2,296
58,021
125,092
514,954
12,885
108.009
70,983
67,183
144,214
643,147
128.121
276,022
def.6,715
def.14,325
333,732
829.682
2,848
3,657
19,509
189,199
426,941
1,552,928
218,680
569,249
248,344
1,114
3,578
26,779
43,520
64,715
194,984
466,595
2,192,615
73,168
563,739
921,832
1,715,158
739,701
1,527,414
9,430,009
15,997
24,188
8,068
11,115
68,024

284,068
3,761.135
103,785
652,651
387,853
4,413,786
172,115
1,455,026
17,211
34,295
626
1,209
def.457
d e f.1,415
def.2,847
97,125
206,135
519,941
12,451
150,807
97,828
23,229
88,611
650,919
91,062
173,230
def. 6 42
def.356
206,621
553,341
def.591
d ef.756
15,166
121,952
267,811
1,411,655
221,704
468,339
159,711
824
1,982
10,777
28,258
68,518
164,002
414,129
2,115,103
53,419
528,689
636,395
1,348,862
595,593
1,235,052
6,569,115
6,505
8,921
4,548
9,714
72,741

THE

A p r il 18, 1896, J
1896.
Roads.

#

C H R O N IC L E .

721
Oross Earnings.

$
239,847
13,308
151.891
44.286
91.435
470,398
970,931
2.024,515
9.055,361
127.721
280,678
1,133,115
82,639
861,9t0
111,9*4
201,602
52,138
122,051

Oiu. N. OrL A Tex. P, Feo. 266,655
Oto. Ports. A Vir.b. .Jan.
21,553
July 1 to Jan. 3 1 ....
179,875
Cieve. Canton A So.. Feb.
14,3 21
Jan. 1 to Feb. 29___
89,217
July 1 to Feb. 29 .. .
463,602
C.ev.Cln.C.A8t. L a.Feb.
970,748
Jan. 1 to Feb. 2 9 .... 2,073,008
July t to Feb. 29 .. . 9,155.503
Peoria A East'n.a .Feb.
139,190
Jan. 1 to Feb. 2 9 ....
291.239
July 1 to Feb. 2 3 .... 1,326,146
Clew Lor. A Wheel. .Jau.
93,361
July 1 to Jan, 31___
939.539
Colorado Holland__ Jan.
119,167
Col. Hook. Val A T b Jan,
205,320
Col, Sandus.A Hook.. Feb.
62,690
Jan. I to Feb. 2 9 ....
122.870
July 1 to Feb. 2 9 ....
667,887
713
Crystal........ ............. Fob.
1,015
1,387
Jan. 1 to Fob. 2 9 .. .
2,193
50,981
Cumberland Valley.. Feb.
57,193
109,611
Jan. 1 to Feb. 29 ..
120,901
493,152
Hen. A R. Grande.b. Feb. 511,183
Jan. 1 to Feb. 2 >.... 1.081.019 1,021,667
July 1 to Feb. 29 .. . 5,166,318 4,732,207
22,839
Des Moines So. A W.Feb.
33,952
45,363
Jan. 1 to Feb 2 9 ....
71,165
80,798
Del. Lana. A N or.a..F*b.
71,552
163,245
Jan. 1 to Feb. 39---151,511
20.837
Detroit A Maok'C.a.. Feb.
12,991
40,760
Jan. 1 to Feu. 2 0 ....
82.617
141,598
July 1 to Feb. 29. ..
258,319
53,312
Dolutb A Iron R'fte.-Sov.
100,993
Jan. 1 to Nov. 3 0 .... 2,156,613 1,500,029
81,711
Elgin JoUet A K .a-.Feb,
102.163
161,133
Jan. 1 to Feb. 2 h___
209.510
July 1 to Feb. 2 9 .. .
312.949
706, <02
Erie............................ Feb. 2,122,079 1,970,215
Jan. I to Feb. 29___ 4*448,191 1,081,33 i
4*129
Eureka SprinK*......Feb.
4.802
Jan. 1 to Feb. 2 9 ....
9,398
8,917
runt A Pere Mar.a Feb,
222,899
168,001
343,702
Jan. » to Feu. 29___ 452,033
90,810
Ft, W. A f>. City......... Jan.
74,801
29,669
Ft. Worth A Rio Or Feb.
30.516
Jan. 1 to Feb, 29 . . .
71,521
67.393
805
Gadsden A Att. Uo. .Mar.
811
J an. 1 to Mar. 3 1 . . . .
2,606
1.761
121,119
Georgia.» ____
Mar,
123,910
Jan. 1 to Mar. 3 1 ....
128,279
318.673
July 1 to Mar. 31 .. 1,212,732 1,053,056
Georgia A Alai> a.d..Feb.
50,298
33,507
72,462
Jan. 1 to Feb. 2 9 ..,.
102,653
July 1 to F,b. 2 * ...
365,753
333,901
57,579
Oa- South. A Fla... . Feb.
71.023
Jan k to Fen. 29 . . .
157,169
128,313
July l to Fob. 29___
801 ,oti
585.383
191,901
Grand Rao. A tnd....Feb,
195,610
Jau, l to Feb. 2 9 ....
397,198
367,077
Or, Traukof Can.. Feb. 1,179,133 1,099,138
Jan t to Feb. 29 . . . 2,508,284 2,358.627
Okie. A (it’ d Tr...... Feb.
217,319
182.050
Jan. 1 to Feb. 29 ...
515.316
376,719
60,406
Deb Gr, H. A M il... Feb.
80,719
Jan. 1 to Feb. 2 9 ....
133,393
139.311
2,694
Gulf A Chic»«**.b . Feb.
1,260
Jan. 1 to Feb 29 . ..
7.23 1
6,871
Hoo*aoTun.A WHtn..J»n.
3,872
a.* * * * * * #
Heust. A Tex, Cent.. Jan
273.532
316,118
Illinois Central «.„F eb . 1,850,360 1,115,304
Jan. 1 to Feb. 2 9 .... 3,482,637 3,024,160
July 1 to Feb. 29....11,727,840 12352,406
Indiana Hi. A Iowa. Feb.
77.817
67,183
Jan. 1 to Feb. 2v#---160.632
139,115
July t to Feb. 29 . . .
5t0,601
496,300
Iowa Central.b . ...Feb.
167331
121,815
Jan. 1 to Feb. 2 9 ....
331.803
241,397
j i l y 1 to Feb. 29 .. . 1,282,005 1,092,802
Iron Railway.. . . b . . . Feb.
3,880
3,488
Jaa. 1 to Feb, 2 9 ....
8,098
7,1*7
July 1 to Feb. 2 0 ....
32,241
31,671
Jaek. Tam. A K. If.,Feb.
30,669
40.739
Jaa. 1 to Feb, 23 ...
59,201
119,660
C a n a w b a * Wich.b Feb.
38,128
28,006
Jaa. 1 to Feb. 2 9 ....
77.271
53,884
July 1 to Feb. 29 ...
320.2t9
269,598
K an.C. Ft. 8, A M.a.Feb.
360,161
338.039
691,808
Jan. 1 to Feb, 29 ___
766.531
July 1 to Feb, 29___ 3,170.630 3,108.828
Can. i M e m . A B .a.Peb,
99.932
72,705
Jan. 1 to F»b 2 x ....
2IA,5o>>
185,416
722. i l l
July 1 to Feb. 2 0 ....
388.855
Keokuk A We»t"o.b..Jan.
.>6,166
27.239
L. Erie All. A 8 o .« Feb,
6,039
6,542
Jan. I to F»b. 29 . . .
12, UO
14,301
lAke Erie A W«»r b,Feb.
261,811
281,512
Jan. 1 to Feb. 29..
583.928
530.801
Lexington A EikaFn . Feb,
14,655
10,573
J»a. 1 to Pel?. 2 9 ....
32,112
25,540
LobIst.E v. A St.L.b Jan.
115.674
100,553
D juIsv. A Naahv.il Feb. 1.618,570 1,361,910
Jan. .1 to Fab. 29 ... 3,305,167 2,5Ji7,<>42
July 1 to Feb. 29___14,025,189 13.153,920
Loniav,H. A. A C.a..Fob,
219,991
201,657
Jaa. 1 to Feb. 2 9 ....
453,410
411,156
July 1 to Feb. 29 . . . 2,303.415 2,012.181
Lonlsy. St, L. ATex. Feb.
33,034
29,015
Jan. I to Feb. 29__
68,124
59,162
Macon A (tim in g ... P«b,
6,024
5.979
Jan. X to Fob. 2 9 ....
13.314
12.401
July I to Fab, 2 9 ,...
49,906
55,262

$
67,377
2.363
32.647
8.611
14.382
107.976
235,361
177,466
-

36,846
73,885
339.739
19,254
3*3,2 52
43,243
79.438
12.690
2*2,394
180,598
337
110
15,193
35.337
196,269
416,071
2,252,995
16,409
26,221
9,111
11,510
10,381
80,221
73,7*5
25,713
1,219,656
36,778
73,399
292.726
391,855
835,972
J.40 >
1.959
53,515
103,689
6,528
8.4TH
26,917
138
1,309
27.851
SUO.'WJ
U111,52 ~
17,909
39.550
117,316
;17,819
61.703
*151.131
33,825
13,353
152,987
394.7 i*
13,076
28,644
dot, 3.875
dof. 4.351
795
1,321
1.892
93,577
1*1.888
1,073,870
5,129,090
24.820
58,69,5
174,6*4
69,151
133,251
504,088
173
315
1,180
1.180
153
8,652
10,883
78,308
l o t , 520
221,050
979,991
20,015
52,327
192.157
16,102
1,248
2,033
10 *,706
210,338
5,102
11,781
18.769
875,427
1,197,482
5,061,921
13,120
92,150
711,721
4.952
11,207
def.715
405
dof, 1,050

i
56,915
1,904
28,973
1,552
15,190
83,463
234,920
469.147
2,245,772
37,931
71,493
293.15 5
13,102
385,090
23,420
73*916
5,718
23,133

Roads.
M anistique................. Feb.
Jan. 1 to Feb, 2 9 ....

1896.
$
10,015
21,209
113,966
235,981
988,434
776,326
1,598,358
234,547
388,178
812,096
73,229
149,177
118,376
291,251
1,425.276
213,637
183,718
23,291
49,513
290,019
589,871
2,183,779
104,913
1,287,879
3,923,609
1,911
3.638
20,071

-K et Earnings.-----

1895.
1896.
8
$
8,792
6,130
19,062
6,129
76,472
24,566
163,705
51,968
264,232
850,495
708,564
218,467
1,501,607
537,285
196,916
73,339
328,468 e l 71,158
685.605 e358,800
15,753
37,739
87,861
75,770
112,229
49,815
231,371
99,015
1,225,418
6(9,413
191,075
72,273
353,131
139,509
20,679
2,817
15,336
5,118
231.003
99,415
501.702
217,759
2,173,203 1,010,278
394,672
125,652
1,118,308
445,401
3,490,677 1,529,332
def.15
1.983
3,439
def.873
14,902
2,129

1895.
$
5,596
6,943
def.5,052
def.5,023
168,567
294,233
619,654
72,135
C132.575
(•290,918
25,678
47,704
39,143
83,814
539,015
51,212
69,889
def.1,696
35
71.910
174,267
837,573
163,356
449,958
1,148,979
131
dof.305
det.1,179

Memphis A C has'n,..F eb.
Jan. 1 to Feb. 2 9 ....
July 1 to Feb. 2 9 ___
M exican C en tra l-----Feb.
Jan. 1 to Feb. 2 9 ....
Mex. International. .Jan,
M exican N ational....Feb.
Jan. I to Fsb. 2 9 ....
Mexloan Northern. ..Feb.
Jan. 1 to Fab. 2 9 ___
Mum. A St. Louts__ Feb.
Jan. 1 to Feb. 29 . . .
Jniy 1 to Feb. 2 9 ___
Minn. Bt.P.&S.Ste M.Feb.
Jan. 1 to Feb. 2 9 ___
Mobile A B um Cham Feb.
____. . .
Jan. 1 to Feb. 29 . . .
211 M obile A Ohio a . ....F e b .
322
Jan. 1 to Feb. 2 9 ___
10,133
July l to Feb. 29___
25,171
Naah.Ch. A St, L .b .M a r .
199,014
Jaa. I to Mar. 3 1 ___
414,884
July 1 to Mar. 3 1 ___
•2.013.031 Nevada Central.........Feb.
5,986
Jan. 1 to Feb. 2 9 ___
11,373
Ju ly 1 to Feb. 2 9 ___
11.160 N. Y. Central A Hud.—
17,733
Jan. 1 to Mur. 3 1 ___I10,481.600 9,835,818 3,329,000 3,019,842
10,099 St. T .O n t. A W est.*. Feb.
232,905
228,602
38,296
26,023
16,011
505,327
Jan. 1 to Feb. 2 9 ___
505,165
101.193
81,128
52,094
July 1 to Feb. 2 9 .... 2,552.392 2,495,484
758,238
701,116
11,430 S. Y . Sue. £ W est..b. Feb.
157,984
52,178
111,168
18,304
872.711
358,841
322,663
127,942
130,666
JJan, 1 to Feb. 2;*___
1.511,088
1,432,106
640,027
July
1
to
Feb.
2
9
....
189,364
30.391
57,179 Norfolk A West’ s a . Feb.
689,845
199,177
897,605
39,309
219,690
133,108
Jau. 1 to Feb. 2 9 ___ 1.973,487 1,512,014
127,485
317,339
4,092
3,213
6,855
750
Northeastern o f Ga..Feb.
6 .8,950
12,960
8,059
5,815
1,900
.Jan. 1 to Feb. 2 9 ___
1,085 North. Central-b , . . . . Feb.. 112,778
80,879
448,8«8
119,157
1,218
.953,987
939,478
197,721
243,106
J an. 1 to Feb. 29 —
31, 193 Northern Paeltto.b .Jan. 1.163,822 1,017,812
326.097
158,685
60 098
July 1 to Jau. 3 1 ,... 13,153.204 11,353,128 6,179,239 1,341,378
31,8*9 Ohio R iser.b .............Feb.
40,774
21,107
69,559
16,588
91,799
11,596
Jau. 1 to Feb. 2 9 . . .
115,313
31,902
7,605
16, n o Ohio R iver A Chas. . Feb.
13.766
12,111
5.575
1,919
25,904
9,169
4,791
Jen. i to Feb. 2 9 ....
37,319
3 52
1,022 Pennsylvania—

£70.951
*326.855
3.033
1,072
60,131
16,587
31.1*73
103,339
38,629
6J.20J
148,071
3 >7,365
1.139
def.9,713
530
909
619
2,107
. . . .

96,611
395,355
93 1,103
3,800,962
20,423
14,363
m ,2 o 4
3.3,995
78.515
375,635
620
1,1 to
8,251
5,761
31,112
0,244
13,309
71,252
91.612
20.1,3 U
967,931
7,498
28,355
145,185
8,832
1,805
3,569
118,119
235,262
2,162
7,400
12,506
4*53,400
1,073,351
5,161,134
33,628
64,720
611,304
5,251
9,792
1,270
2,9 47
12,593

Jan. 1 to Feb. 29..
West of Pittas**..Fob,
Jan. 1 to Feb. 29..
Ail line* operatedEast o f Plttsb'K.Feb.
[Jan. 1 to Feb 29..
West of Pittsb’g..Feb.
Jan. 1 to Feb, 29..
Peoria Dee. A Ev___Deo.
Jau. 1 to Dee. 31 ___
Petersburg............... Feb.
Jan. 1 to Feb. 29___
July 1 to Feb. 29___
Philadelphia* KHeb Feb.
Jan. I to Fell. 29___
.
.
.
.

1,016,031 4,419,034 1,123,101 1,118,901
9,639.905 9.097,905 2,166,798 2,130,298
Dee,
Ino. 112,000
12.200
Ine. 337,100
i Dec.
36,500

Ino. 265,300
In c. 649,900
Ine. 145,100
Ine. 375,000
78,815
93,211
827,189
859,532
37,218
45,081
91,910
76,957
373.672
319,182
216,632
233,791
535,777
182,951
1,350,396 1,111,812
3,075,759 3,1 13,150
1,909,016 4,505,078
1,504,341 1,975,227
3,357,792 3,868,184
5,571,150 5,456,139
2,**31,617 3,420,089
Jan. 1 to Fob. 2 9 .... 0,133,551 0.8* 1,334
Dee. 1 to Feb. 2 9 ....,10,183,166 10,021,517
Pitts. 0. C. A 8 t L...Mar. 1,209,289 1,175,225
Jan. 1 to Mar. 31 — 3.025,363 3,367,204
3,335
3,483
Pitts, Mat. A Ohio__ Feb.
6,900
0,537
Jau. 1 to Feb. 29 ...
100,219
115,328
Pittsburg A Western .Jan..
56,027
56,298
Pltte. Clev. A ToL.Jan.
10,158
15,362
Pitts. Pa. & Fair...Jan.
162,599
Total system — Feb.
101,952
351.6t>9
329.262
Jan. 1 to Feb. 29..
July 1 to Fob. 29.. 2,005,887 1,818,392
81,036
67,613
Pitta. Youngs. A A...Feb,
151,801
138,827
Jan. 1 to Feb. 2 9 ....
49,756
54,787
Rioh. Fred. A Pot...Feb.
103,953
109,615
Jan. 1 to Feb. 29 ___
133.787
July 1 to Feb. 2 9 ....
482,301
26,662
22,212
Rich. A Petersburg...Fob,
54,641
45,929
Jan. 1 to Feb. 29___
330.590
207,811
July 1 to Feb. 29___
31,526
23,013
Rio Grande South.b .Feb.
55, 836
Jan. 1 to Feb. 2 9 ....
70,807
275,161
340,171
July 1 to Feb. 2 9 ....
134,837
151,010
Klo Grande West. b.. Feb.
280,590
311,270
Jan. 1 to Feb. 29 ..
July 1 to Feb. 2 9 ,... 1,660,292 1,425,880
7,613
9,200
flag. Ton. A Huron...Feb.
17,930
16,401
Jan. 1 to Feb. 29___
0,051
0,404
Bag. Valley A S t L, . Feb,
12,321
12,993
Jan. 1 to Feb, 29 ...
103,611
108,351
StXouSsAtt.AT.H.b.Jan,
831,182
801,313
July 1 to Jan. 31__
413,(01
8 c Lout* A San Fr .. Feb. ‘483,470
866,623
976,326
Jan. 1 to Feb. 2 9 ....
128,580
127,520
Ban Ant. A Aran. P. Fob.
271,301
323,089
Jan. 1 to Feb. 29 ...
57,501
10,724
San Fr. A N. Paq.......Mur.
114,682
118,978
Jan. 1 to Mar. 3).__
595,730
007,127
July I to Mar. 31___

Dec.
Deo.
Deo.
Dec.
48,081
318,330
19,120
38,117
103,052
28,015
69.706
806,959
1,254,219
2,069,958
df.201,019
dt.l?S, 03
df.201,128
305,910
1,075,511
1,808,830
120,011
645,788
1,261
1,849
37,025
13,470
dof. 1,054
30,154
7S‘ ,001
610,473
7,529
11,809
18,061
.37,332
173,1*37
8.118
16,700
71,070
15,870
31, 36
183,043
48,936
100,102
675,011
1,910
3.345
1,050
1,331
13,285
305,639
190,815
372,030
28,842
67,384
4.414
9,762
109,940

11,000
41,700
20,400
86,700
23,900
223,710
10,204
22,799
132,258
29,992
53,146
516,733
1,173,020
1,777,882
dof.63,176
df.150.54fl
df.337,977
483,557
1,022,471
1,439,905
87,857
550,370
210
465
28,551
18,486
def.4,342
40,392
89,087
598,377
27,503
44,615
17,216
34,450
157,619
2,685
6,059
13,327
8.862
20,111
138,186
35,812
71.8U7
470,233
1.589
4,459
912
2,194
48,932
399,034
139,360
307,237
20,012
97,244
11,988
16,574
208,750

722
-Gross E a rn in gs.—
1896.
1395.
Roads.
r
$
256.046
235,130
Bav. Fla. & W est.b..F ob.
57 S,170
5 8 8,7:9
Jan. 1 to Fob. 2 9 ....
July 1 to Feb. *29 .. . 2,257,339 2,431.835
14,9 m
13,796
Silver 8p. Ocala A G. Feb.
25,212
30,44 l
Jau. 1 to Fob. 2 9 ....
5,076
12,471
S llv e r t o n ....----------- Doo.
77,139
53,715
Jan. 1 to Deo. U ___
174
1,11 l
South Haven A East.Feb.
2,139
1,021
Jan. 1 to Feb. 2 9 ....
Southern Paciflo—
337,661
Gal. II. AS. A nt.b . . Feb.
335,970
721,119
Jau. 1 to Feb. 2 9 ..
860,133
76.331
75,633
Louisiana West. b.. Feb.
204,764
Jan. 1 to Feb. 29..
172,828
401,015
401,213
M’gan’ s La.A T .b .,F e b .
Jan. 1 to Feb. 2 9 ..
910,585 1,102,881
13,617
13,319
N .Y .Tex. A M
. Feb.
29,371
36,487
Jan. I to Feb. 2 9 ..
100,295
111,605
Texas A N. 0 ..b ...F e b .
228.101
70,146
Jan. 1 to Feb. 2 9 ..
956,795
981,077
Atlantio ays. b .......Feb.
Jan. 1 to Feb. 2 9 .. 2,230,563 2,395,631
Paciflo sy ste m .b ...Feb. 2,464,382 2,287,992
Jan. I to Feb. 2 9 .. 4,847,870 4,436,074
Total of a ll...... b. ..Feb. 3,702,490 3,516,017
Jan. 1 to Fob. 2 9 ___ 7,615,467 7,463,412
692,931
So. Pao. of C a l.b ..J a n .
799,098
217,977
187,475
So. Pac.of A riz'a.b.Jan.
82,062
103,043
So.Pao. of N. M .b. .Jan.
Northern Rall’ v .b . Jan.
153,980
141,467
Southern Rail way. a .. Fob. 1,491,918 1,261,903
Jau. 1 to Feb. 2 9 .... 3,125,875 2,763,984
Ju ly 1 to Feb. 2 9 .... 13,451,370 12,104,590
26,005
Spokane Falls A Nor. Feb.
14,543
51,783
33,175
Jau. 1 to Feb. 2 9 ....
67,627
62,261
Staten I. Rap. T r . b . . Feb.
136,394
Jan. 1 to Feb’; 2 9 ___
126,419
809,972
Ju ly 1 to Feb. 2 9 ....
735,488
995
947
Stony Cl. A C. M. .b ..F e b .
2,107
2,3 44
Jan. I to Feb. 2 9 ....
July 1 to Feb. 2 9 ....
32,613
33,986
67,709
8ammlt B ran ch .e...F eb.
90,240
154,494
Jan. 1 to Feb. 2 9 ...,
194,483
Lykens Val. Coal.e. Feb.
67,897
67,314
Jau. I to Feb. 2 9 ___
150,477
152.592
135,606
159,054
Total both C o'e.e .Feb.
Jan. 1 to Feb. 2 9 ,...
347,030
304,881
2,237
Tex. Sab. Y. A N. W..Mar,
3,817
Jan. 1 to Mar. 3 1 ....
8,072
11,180
Toledo A O. Cent. b . .Feb.
138,493
127,958
Jan. 1 to Feb. 21___
282,9 4 4
268,382
July 1 to Feb. 29___ 1,354,735 1,400,715
82,207
Tol.Peoria A West. b. Mar.
77,853
Jan. 1 to Mar. 3 1 ....
253,045
229.734
July 1 to Mar. 3 1 ___
784,306
722,963
Ulster A Delaware. ..Feb.
22,669
19,272
Jan. 1 to Feb. 2 9 ___
46,823
41,905
July 1 to Feb. 2 9 ___
294,701
273,465
Union Pacific—
Union Pao. R y..b..F eb.
925,467
940,344
Jan. 1 to Feb. 2 9 .... 1,862,796 1,910,864
Oreg. S.L. A U .N .b.F eb.
363,583
306,863
Jan. 1 to Feb. 2 9 ..
750,283
637,325
St. Jos. A Gd. Isl.b..F e'o.
47,624
42,312
Jan. 1 to Feb. 2 9 ..
96,526
90,559
Kan. C. A O m .b ,...F e b ,
6,714
5,794
Jan. 1 to Feb. 2 9 ..
15,717
12,241
31,159
21,192
C en t B ra n ch ..b ...F e b .
Jan. I to Feb. 2 9 ..
68,082
42,526
Atch. C. A P a c.) K
22,794
21,996
A tJew .C .& W .
* ^
Jan. 1 to Feb. 2 9 ..
48,209
42,597
Grand T o ta l.b .t ....Feb. 1,508,077 1,433,873
Jan. 1 to Feb. 2 9 .. 3,069,679 2,937,995
Un. P.D. A Gulf, b — Feb.
206,037
206,768
Jan. 1 to Feb. 2 9 ....
447,150
4 44,731
Wabash, b ..................Feb.
926,271
844,529
Jan. 1 to Feb. 2 9 .... 1,903,078 1,750,526
July 1 to Feb. 2 9 .... 8,880,970 8,037,353
Waco A Northw’n __ Jan.
23,683
19,138
West Jersey A B rs..F eb.
89,567
80,240
Jan. 1 to Feb. 2 9 ....
181,914
163,110
West Va. Cent. A P..Mar.
102,449
84,319
Jan. 1 to Mar. 3 1 ___
22 L,677
273,Or. 0
July 1 to Mar. 3 1 ___
890,004
776,137
W. Virginia A Pittsb.Jau,
27,534
22,917
West’ n o f A labam a..F eb.
17,931
38,351
Jau. 1 to Feb. 2 9 ...
79,231
99,788
July 1 to Feb. 2 9 ....
422,316
369,012
W est.N .Y .A P enn.b..F eb.
191,721
208,700
Jan. 1 to Feb. 2 9 ___
390,899
425,916
July 1 to Feb. 2 9 .... 2,211,414 2,215.465
125,532
Wheeling A L. E rie..D ec.
113,033
July 1 to Dec. 3 1 ...,
785,504
720,327
231,787
Wisconsin Central...Jau.
245,218
8,683
Wrightev. A T eun ...F eb.
4,896
17,772
Jan. 1 to Feb. 2 9 ___
10.904
July 1 to Feb. 2 9 ___
65,237
53,189

THE CHRONICLE

[VOL, L i.Il..

.Yet Earnings.
1895.
1896.
$
5?
63,532
70,408
155.189
156.636
690,720
601,695
347
7,212
15,075 def. 1,6 33
1,051
8,103
26,8 L9
43,221
def. 82 3 def. 1,043
def. 1,432 def. 1,709

h In eluded in expenses for February.1396. Is $6,613, and from July 1
to February 29, 1396, $113,815, which ia form er years would have been
charged to betterments.
* Eooludes operations o f the Chioago Burlington A Nor. for both years,
t luoludes only one-half o f lines in which Union Paciflo ha-} a part
Interest. Figures are given exclusive o f results on Oregon Railway &
Navigation, Union Paciflo Denver A Gulf, F ort Worth A Denver City,
Leavenworth Topeka A Southwestern and Montana Uni )n.
♦ After allowing for taxes and insurance premium.
II Including incom e from ferries. Ac.

75.019
104,106
187.393
281,0 49
27,414
27,326
103,516
74,708
91.002
73,525
253,926
3 2 9,031
1,891
2,748
9,692
6,148
34,363
25,620
104,525
72,150
251,862
2L0.379
743,836
694,672
639.329
8 40,687
1,562,212 1,088,530
912,895
1,127,595
2.34L.4S9 2,0 49,97 2
181,271
286,247
64,255
66,217
36,05 4
15.326
47,074
12,486
383.346
430,465
879,821
820.2 44
4,334,350 4,032,309
16,664
6,983
33,105
14,033
16,874
15,759
30,536
25,337
303,068
305,187
def. 1,712
def.358
def. 20 4
def 2,797
16,975
12,398
11,453
7,419
60,818
def.2,33L
16,517
5,439
36,204
26,589
16,892
21,963
24,203
97,022
1,332
18
1,041
4,653
40,817
32,244
68,102
85.637
488,89 J
444,788
17,854
20,693
63,847
47,938
174,689
207,998
def.722
1,220
4,823
def.300
79,954
70,915

------Gross Earnings.----- s,-----Net Earnings.——
1896.
1895.
1895.
1896.
$
$
9
$
71,306
58,309
Col. Fuel A I r o n .......Jan.
184,157
88,495
166,681
Edison El. II.C0..N.Y. Mar.
77,898
549.042
308,785
597.530
Jan. 1 to Mar. 3 1 ....
264,897
42,412
69,419
31,757
Ed. El. HI. Co., B klyn. Feb.
20,160
91,752
68,088
145,124
46,452
Jan. 1 to Feb. 2 9 ___
35,739
20,903
Ed.El.Ill.Co.,St.Lou..Feb.
79,375
. ... ....
61,778
Jan. 1 to Feb. 2 9 ___
96,243
88,925
36,097
22,985
Erie Teleg.ATelep.Co.D’c.
450,633
395,136
Jan. 1 to Dec. 3 1 .... 1,085.896 1,033,619
9,801
8,900
Gd. Rapids Ga8-L.0o.Mar.
........
3 d,047
Jan. 1 to Mar. 3 1 ___
31,630
61,728
Laclede Gas-L. Co.. .Mar.
70,289
............
............
210.423
229,760
Jan. 1 to Mar. 3 1 ___
8,093
3,673
M exican Telephone..Jan.
8,935
4,545
96,293
Mar. 1 to Jan. 3 1 ___
101,917
43,913
41,027
235.673
4,257
Oregon Im ». C o.a....F eb .
226,960
10,723
498.249
15,769
Jan. 1 to Feb. 2 9 ___
471,165
31,665
11,261
Dec. 1 to Feb. 29___
711,492
775,415
53,558
334,561
343,897
71,332
Pacino M ail................Feb.
75,840
671,124
99,334
Jan. 1 to Feb. 2 9 ___
647,37L
105,243
716,754
May 1 to Feb. 2 9 ___ 3,540,500 3,302,123
637,984
Tenn. Coal l. A RR ..Feb.
81,446
41,875
175,831
Jan. 1 to Feb. 2 9 ___
92,875
Western Gas Co.—
34,211
32,002
Mil waukeeGas-L. Co. Mar.
118,76L
113,286
Jan. 1 to Mar. 3 1 ___

Miscellaneous Companies.

Interest Charges and Surplus.—The following roads, in
addition to their gross and net earnings given in the foregoing,
also report charges for interest, &c., with the surplus or deficit
above or below those charges.

r-lnter'i, rentals,
r-B at. o f Net Earns
1896.
1895.
1896.
1895.
Roads.
$
$
$
$
Bangor A A roostooh.Feb.
21,540
16,946
277
265
Jan. 1 to Feb. 2 9 ....
42,728
33,892 def.2,492
4OS
Camden & A tla n tio.. Feb.
10,240
9,683 def.16,955 def.10,325
Jan. 1 to Feb. 2 9 ....
34,835
33,793 def.48,660 def.34,149
Cbio. Burl.A Quincy..Feb.
880.000
872,954
41,832 df.236,559
Jan. 1 to Feb. 2 9 .... 1,760,000 1,745,909 del.44,342 dt.397,047
Ohio. A West Mtota...Feb.
33,773
33,144 d e f.17,776 def.26,639
Jan. I to Feb. 2 9 ___
67,546
66,289 def.43,358 def.57,368
Oiev.Cin. Ch. ASt. L ..Feb.
233,830
234,279
1,471
641
July 1 to Feb. 2 9 .... 1,890,420 1,899,373
544,357
356,399
Peoria & E astern.. Feb.
36,802
36,802
81
1.129
July 1 to Feb 2 3 . . .
294,414
294,414
45,375 def.1,259
310,211
296,893 Denver A R io Gr’de. Feb.
202,370
193,539
def.6,101
475
528,352
592,433
July 1 to Feb. 2 9 .... 1,557,650 1,602,917
695,345
415,114.
72,605 Det. Lans. & N o r ... .Feb.
170,881
30,343
30,251 def.21,229 def.19,091
136,391
323,388
Jan. 1 to Feb. 2 9 ....
59,397
60,169 d ef.45,387 def.42,436
6,000
7,487
Flint
A
Pere
M
arq._.Feb.
51,090
50,916
2,425 def.19,223
17,5 44
15,469
Jan. 1 to Feb. 2 9 ....
102,014
102,026
7,675 def.41,930
def.439 def.1,734 Kanawb a & M iob----- Feb.
10,030
10,271
*def.3,378
*def.5,027
def. 110 def.3,009
July 1 to Feb. 2 9 ....
81,595
85,431 *def.3,287 ‘ df.11,179
4,057
13,405
O. Ft. 8. & M .. .Feb.
113,016
109,422 def.8,496 def.14,810
31,284
7,375 Kan.July
1 to Feb. 2 9 ....
920,145
888,611
59,816
79,320'
def.3,473
def. I l l
Kan. C. Mem. & Bir..Feb,
13,867
11,229
6,143 def. 3,731
July 1 to Feb. 2 9 ....
110,937
89,831
81,220
55,351
def. 4,490 def.2.734
Erie A West’n....... Jan.
57,971
57,957
81,661
58.886
524,947
392,83 8
83,536
948,216
779,357 Loulsv. N. A. A Gil...Feb.
77,763 def.49,410 def.44,137
July
1
to
Feb.
2
9
....
676,198
658,784
68,523
def.44,480
29,490
42,598
121,401
83,9 L4 Nasbv. Chat. A St. L. Mar.
88,770
124,969
1,251
38,387
July 1 to Mar. 3 1 .... 1,125,031 1,139,121
404,301
309,858
175,029
257,738
270,229
500,393
371,528 Pitts. C. 0. A Sc. L ...M ar.
259,733 df.150,215 df.171,881
Jan. I to Mar. 3 1 ....
818,141
2,627,959 2,048,978
731,521 df.172,333 df.231,145
14,223
6,123
13,476 Rio Grande South.. .Feb.
14,191
1,653 def.5,329
Jan. 1 to Feb. 2 9 ___
28,570
23,383
2,766 def.8,272
5.741
6.220
July
1
to
Feb.
2
9
....
113,907
............
69,736
.............
16,773
5,430
3,557
3,557 def.2,501 def.2,615
34,341
32,872 Sag. Valley A St. L .Feb.
Jan. 1 to Feb. 2 9 ....
7,114
7,114 d ef.5,233 def.4,92083,950'
79,199
308,125
262,695 St. Louis Alt. A T. H. Jau.
t34,!22
133,214
9,103
15,638
July
1
to
Jan.
3
1
....
1255,931
t249,998
109,708
149,036
14,276
10.950
San
Fran.
A
No.
Pao.Mar.
17,129
17,233 def.12,715 def.5,245
16,614
14,102
Jau. 1 to Mar. 3 1 ___
51,387
51,639 def.41,625 def.35,325
35,084
27,177
July 1 to Mar. 3 1 ....
151.161
155,097
15,779
53,653
166,946
134,538
Tenn.
Coal
I.
A
R
R
.
Feb.
47,884
48,735
33,562 def.6.860
L32.279
39.380
Jan. 1 to Feb. 2 9 ....
95,768
103,435
80,063 def.15,560
65,874
74,967
U588.710
707,484 Toledo A Ohio Cent..Feb.
37,426
33,167
*9,638
*5,224
July 1 to Feb. 2 9 ....
311,016
274,759 *142,159 *223,052
24,738
26,166
163,821 Toledo Peo. A Wost..Mar.
255,491
22,051
20,731 def.1,355 def.2,380
177,91)8
141,669
West Jersey A Brs..Feb.
12,620
16,792 def.6,400 def.11,051
Jau. 1 to Feb. 2 9 ....
52,311
4,984
67,219 d ef.35,533 def.6L,739
36
10,173 def. 5,523
■ A fter allowing for other incom e received,
27,200
l'J,506
t Those charges are sim ply for tasos and rentals of leased lia e 3 and
do not include bond interest.
a Net earnings here g iven are afeer deducting taxes,
b Net earnings here given are before deducting taxes,
c Deducting other expenditures for repairs, replacements and general
STREET RAILWAYS AND TRACTION COMPANIES.
expenses, net income applicable to interest on bonds In February was
$100,335, against $59,096 last year, and from January 1 to Feb­
The
following table shows the gross earnings for the latest
ruary 29 $zuy,343, against $140,653. This is the result in Mexican
dollars treated (according to the com pany’ s method o f keeping its period of all s t r e e t railways from which we are able to obtain
accounts) as equivalent to 80 cents in United Stutes money—that is, weekly or monthly returns. The arrangement of the table is
all depreciation beyond 20 per cent has already been allowed for.
the same as that for the steam roads—that is, the first two
«1 Figures for 1896 do not Include results on Albany Fla A No..while
those for 1895 do,
columns of figures give the gross earnings for the latest
c Results of coal mining operations only.
week or month, and the last two columns the earnings for
tr Including other income, the uet from J a n u iry 1 to March 31
Wos $171,422, against $101,381, and from July 1 to March 31 $476,- the calendar year from January 1 to and including such latest
328, against $388,361.
week or month." , ^ t f k v *

A p«

l

THE

IS, 1S96.]

8TKEJET RAILW AYS

GHO*8(
Earsi sos.

A fit) TRACTION

Latest Grose earnings.
Week or Mo

Akron LV'r.l ACIev March......
Akron »t. By.A II! Co March —
Amsterdam St. B y... January...
Atlanta Con. St. Ry.. M arch ---Baltimore Traction... March.......
Bath St By. (N. X-K. FebruaryBay Cities Coaaol___March........
n w t e M St. H r... M arch.....
Bridgeport Traction. March.. . . .
Brockton Con. 8t. i;v. February..
Brooklyn Heights .. March.......
Br'kiy n Queen* <fcSob. February,.
Brooklyn Traction—
AtJaiit A ve......... February..
Brooklyn B. A W. E. February,.
rota'................
February. .
flsS tte By..................December.
Central TnuMPittab.i February..
Chester Traction.. . March......
Chic. A So. Side K.T.. March___
Cln. Newport i O i f . .-February..
City Elec. (RoroeJJa,) March.......
Cleveland City By.--. .February..
Cleveland Electric... February..
Colambas HK. (Ga.) . ' December.
Colatnbu* 6t. fly. (O.) 2dw k Apr.
Coney isla n d * B’ lyn. March......
Consol. Tracti-o N.J. March.......
Denver Con. Framer. February..
Detroit Ry..................March..
Duluth St. By........ . March..
Erie !-.!.« . Motor Co .. March..
F lu sh in g * College P t M arch ..

1898.

1896.

S
S
S.SVf
16.777 13,798
8,257
3.564
26.908 23.234
37.267 61,977
1,022
1,257
6.2 5 “
6, 21
9,932- 9.372
22,406 20,227
19.970 15,683
335.80ft 300,640
47,633. 32,702
09.08!
4.491

29,599
4,486

16 t,749
14,lot
13,732
07.024
*2,702
1.4M
7s 997
118,97:
3.121

132,872
12,483
12,683
70,013
37,251

51.1*01

49,001

73,574 34,085

66,6*0
95,831
2,340
11.76)
11,134
20.12* 22.435
208,23-. 1,83,751
34.246 ...........
19.058 19,124
11,212 0,415
1,2-5
13.05s u X ii

C H U O N IC L F .

COM PANIES.

Jan. 1 la Latest Date,
1896.

;

S
I
15,38?

1895.

49,199:

141,361
3,257
60,091
229,713
2,132

29 082

23,456
55,660
32,836
626,019
46,133

3,584
77,168
356,857:
2,67c
18.866
65,573
935,90s
97,343

17,464

141,626
65.729
9.475
9,505
151,101
75,234
,714,168 1,536,234
28,972
26,167
38,499
32,780
193,012 193,073
89,401
76,689
4,282
16o,3S9
241,384 199,527
27,000
41.271
172,226* 155,851
73,677
60,929
606,265 4*97,919
108441
103,09 7
101,291.
*51,432
53 755
27,607

3i $ ! i

26,317
Galveston Olty Ry... February..
27.010
Hestonvtile M. & . .
29,492
Arch street---- — December. 49.826
2,172
Race Street............ December. 10,26-’
Total...... ........... December. 60,094 31,664 511,195: 303,994
1,572
Bawtek R y ..— . — March— .
568
Houston City fit. fey ..Starch ...... 15,36*. 'iS',858
interstate. Consol, ot
North Attleboro... March— . 9,238 ..........
25430
Lake 8 l Kiev. tCbtcO. January... 52,855 44,871
52,855
44,979
27,882
Lehigh Traction...... .M a r c h .....
9,16c
8,941
24,273
Lock Haven Traction February..
1,227 ___.. .
2.5 If
London Si By. (Can.) March..... . 5,785.' 3.533
10.167
it
15,961
Lorain St. By.............March.........
5.431
6,337
14,49**
Lowell Law. A Has-.. February.. 28.132: 20.475:
41,016
52,857
Lean A Boston......... '2-1 wk Apr.: 23,675; 20,772
MetropjKansuaCRy*: 1st wk Apr, 31,5431 28,751; 418.033 383.252
7,150!
6,330
Montgomery 8t. B j. :February..
3,462: 2,925
Montreal Street Ky.-.l-Fi-i-niary..; 97,3941 66,923- 182,451 140,833
Nasbvttie«t. Ky........March.
24.901 2*497
Newbutg Kieetdo___ November. 5,81s* 3,3«4i
New England Bt.~
WlnehcstcT A VC .. March....... 14,380 13,964
12.681 39,705
Pljiu’ th A Kingston,March.......; 2,063* 1,761
5.907
5.170
Total.................... 4YkApr.li: 4,052! 3,748
KewllavenACetitrev...January...
4.620. 2,485
'T .6 2 o;
Sew Haven St. Rv.
Mareb ...
12,079* 11,742
39,98 «
" M
4.7. s
5,101
New London 8L By— February..- 2.415 2,280
New Orteana Traction: March
10,069.103.852
331,877:
............ ' 1,015,076 1,100,017
S. Y. & Harlem........... December.
Northampton 8t. By.
19,307
(Mm *.)................... -M arch .......
0,256- 4,920
12,997
2.4.99:
OgdensburgSt. B y ., M arch____
797
Paterson Ry________M arch ......... 28,343 19,431
0 9 ,1 2 1 j
54,843
Pitts. Froatenae A*
Sub.Elec. Kv.iKao., February.
1,311
2 ,7 1 1
Po’keepaic&Wapp. . M arch .....
5,449:
l« ."t a
Bean oke street.. . . . . . February.. * 2,569
1,785
4,214
5,191
Rochester-Ry............ February.- 67,987:
130.9.U' 119.233
Savannah Electric... j'Febmary..
5,441 t s
Bchuylkll! Traction... iMarch.....
0,931: 7,09c
22,104
18,137
Bcaaylkill VaL T ree..! March . . . . .
2,965
7,272
Scranton Traction ... iM atch . __
20,924
Second AVe. (PttUb.i February.. 30,523! 15,301
m
Slotur Olty Traction.. j February,
6.007: 5,641
u sd 12,247
SteUrway Ry,.............March........ 20,7211 15,731
00,349; 44.2 U
Btteator Bali w ay.... February. .
391.
2,124,
888;
1.827
Syracuse Consol....... (February.. 10.520 13,708
21,043;
29,377
■iyrucu.to E'-t-SldeKy. i February.
2,089
5 .3 16
4 4 ,4 2 6
21,073
gyracoee St. R R ........ February.. 22,24.8; ''9,442
Terre Haute Ki'c. Ry (January.. • 12819 7,009.
7,009
Third Ave. iN. v.) .. 'January. ■ 198,752 185,580 i l M
1852580
Toronto By................ February.. 73,468 62,480 147,845 132,997
Twin City Rap. Iran.'February.. 115,061 134,890. 303,974 296,927
Union is . BeotwA),..{M arch..... 11,730 11,980
48,869
34,913
Union Ry. (Saginaw).! December
9,821
127,017
United Tract. (Prov >.February.. 125,07! ld2,555 2 5 6 , 0 5 4 219,404
Unit, Trae. (Reading) February.. 12,014
19,454
24,205
0.89!*
Utica Belt Line— ... March....... 13,449 11,537!
32,300
38,960
W aketteid*-tone.... March......
3,297 3.024
0,518
7,961
Waterbary Traction.. February.. 19,242 10,580
33,830
40,738
Wbeelfai* Railway.. February., 12,180 9.970
18,642
23,050
YilkMbu & Wy. V'ailej March....... 36,791 30,557 112.057
81,932
Woteeetar Consol..—. ' February.. 34,10s 25.917
50,010
70,002
Prevalence of sin all-pox Interfered with receipt*.

ills

S tre e t R a ilw a y Net Earninst*.— In the fo llo w in g w e sh ow
both th e g r o s i a nd the net earning* to latest d»tea o f all S t r e e t
railway** fro m w hich wk have been able to p rocu re monthlyreturn*. A s to the c a m o f the steam road-*, the returns o f the
different roads are published by 113 each w eek as s oon as re­
ceived , ami o n ce a m onth (on the third or the fou rth S a tu r­
day o f the m onth) w e b rin g all the rood s rep ortin g tog eth er,
•a is don e to-day.
Barntnge.—
-.Vo* Burnings,----- .
1890.
1895.
1896.
1895.
*
Akioc^LRy.AIttCo.Mir.
4,575
10,777
13.798
Jan. 1 to Mar. 31___
49,199
17,426
41,301
Oct. 1 to Mar. 3 1 ..,.
100.334
Amsterdam Sfe By..Jan,
3,564
16
3.257
Atlanta Cmit.Bt. Rv.War.
20,908
10,349
83.231
10,777
Jan. 1 to Mar. 3 1 ,...
77,103
00.091
26,093
21,870
Bath street R y......... Feb.
1,207
def. 102
1,022
370
Jan. 1 to Feh. 29___
2,079
461
def. 193
2,132
Hay Cities ContoL.. Mar.
0,258
0.121
1,874
2,201
Jan. 1 to Mar. 31___
18,8450
17,401
5,270
4,078

723
1ings.-----. ------ Bet E a rn in g s .----- .

1895.
1896.
1896.
1895.
Hoads.
S
$
$
3
Binghamton St. Ry..Mar.
9,932
8,372
3,767
2,757
33,156
Jan. 1 to Mar. 3 1 ....
29,082
10,217
4,545
Bridgeport Tract’n.-Mar.
22,406
20,227
8,761
5.906
55,660
Jan. 1 to Star, 3 1 ....
65,573
24,058
14,401
15,683
Brockton Cou.St.Ry.Feb.
19,970
7,338
5,226
Jan. 1 to Feb. 2 9 ,...
39,627
32,836
13,458
11,891
44,599
Brooklyn Traction. .Jan.
82,795
37,560 def. 11,728
Buffalo Railway. ...D eo.
162,741
132,872
87,713
____—
Jan. 1 to Deo. 31___ 1.714,163 1.536,234
837,010
679,653
12,633
Chester (Fa.) Tract. Mar.
13,732
6,180
5,4=07
Jan. 1 to Mar. 3 1 ....
38.499
32,780
18,734
15,653
Chic. & So, Side R. T.Mar.
67,020
70,013
22,900
26,776
Jan. 1 to Mar. 3 1 ....
193.012
193,073
67,563
52,379
Clnn. New;.. A Cor Feb.
42.702
37,254
8,885
2,961
Jau. 1 to Fab. 2 9 ....
89,402
76,609
11,132
21,003
City Elec,(Koine.G*i.)Mar.
1,490
310
Jan. 1 to Mar. 3 1 ....
4,202
706
Cl ty&S ub. Ry. <Bal t.) *Jsui.
16.588
7,203
Cleveland Electric. Feb.
118,977
95,631
36,196
22,035
214,384
Jan. 1 to Feb. 29---199,527
76,833
53,033
3,121
Columbus HR. 1.la.)..Dec.
2,310
1,202
4 4,271
Jan. 1 to Dec. 3 1 ....
27.000
50,896
Coiambus(0.) St. Ry.Mar.
47,828
25,154
24.347
148,506
Jan, 1 to Mar, 31---133,725
69,953
64,154
48.001
51,901
Dan ver Con. Tram w., Feb.
20,367
17,516
106,441
103,697
Jan. 1 to Fob. 3 9 ...,
40,686
37,317
Detroit Railway—
113,738
Nov. 1 to Jan. 3 1 __
42,920
15.247
15,712
6,879
Duluth Street By....Feb.
6,568
31,087
Jau. 1 to Fob. 29----31.415
13,333
12.254
12,449
13,058
3,755
Qa*re«toa CftyRy. ...Feb.
3,708
26,317
Jan. 1 lo )
29___
27,010
6,707
8,408
17,776
18,489
Houston City St. Ry. Dec-.
6,770
8,551
Inter-State c*«is *1. Street
9,230
994
Ry. (No. AMleh ) . Mar.
Jau. I to Mar. 31 ...
25,480
1,959
52,053
44,079
22,142
Lake St. £!ev,(Cbk>.j Jau.
16,490
Lehigh Traction..a..Mar.
9,166
8.941
3,553
3.101
Jan. 1 to Mar. 31 —
37,882
24,273
9,641
7,746
93,160
41,335
July 1 to Mur. 3 ! ...
5,765
3,533
1,630
London St. Ry.( ';«U Mu r.
322
Jan. 1 to Mur. 31---10,107
10,597
4,552
61
LoramStreet Ry.(0.)Mar.
5,431
6,337
1,221
Jau. 1 to Mar. 3 1 ....
14.490
15,001
2.581
26.132
20.475
7.972
Lowell Lawr'coA tl Feb.
1.927
52.857
41.015
14,728
Jan. I to Feb, 29—
5,551
07,591
76.352
30.600
Lynn A Boston ... ..Feb.
17,402
176,061
102,103
52,774
Jaa. 1 to Feb. 2 9 ...,
44,886
Metropolitan St, Ry. (SLY.)—
912.106
Oct. I to Dec. 3 1 .... 1,838,122 1,419.557
608.019
Jaa. 1 to Deo. 3 1 .... 6,092.635
............ 2,013,351
107,058
42,315
Motto phi St.Rr„K.C,Feb.
124,935
29,820
227,182
88,191
Jaa. 1 to Feb. 2 9 ....
254.437
65,759
560,920
Juno 1 to Feb. 2 9 .... 1,343.387 1.285.408
479,38 9
3,462
2,825
1,709
Montgomery St. Ky .Fcl*.
1.031
7.150
6,330
3,329
Jan. 1 to Feb. 2 9 ....
2,372
23,887
8,492
Nashville Street Ry.Mar.
24,80 4
7,537
Newburgh Electric Ry.—
30,353
June 1 to Jau. 3 1 ,...
74.002
New Haven 81. By.—
Jan, l to Dec, 3 1 ....
198,719
128.183
74,285
50,680
2,280
83
2,415
Sew London St. Ry.. Feb.
305
410
5,101
-4,708
Jan. 1 to Feb. 29---510
115,325
87,511
50.089
New OrSean* Treat..Feb.
34,375
221,808
180,169
106,013
Jan. 1 to Fob. 29—
68,540
6,256
4,920
425
Northampton St- Ry Mur.
2,277
19,307
12,997
4,446
Jan. 1 to Mar. 31 —
Mi l
19,452
8.984
Paterson Railway..-Mar.
23.643
5.978
09,121
Jan. 1 to Mar. 3 1 ....
54,848
28,115
18,988
Pitta. Frontenao A Bob.—
599
1,314
Elec. Ry. (KaiMaa) Feb2.711
1.179
Jan. 1 to Feb. 2 9 ...
5.431
Nov. I to Feb. 29---2,228
Portsmouth Street Ky. A
2.595
1,200
Ltk. Co.................... Deo.
38,752
20,220
Jan. 1 to Dec. 3 1 ....
5,448
P’ k'pa.CiWAW, Falla Mar.
1,250
16,043
Jan. I to Mar. 3 1 ....
4,450
Rapid Ry. (Detroit)—
40,954
18,008
July 14 to Mar. 31. .
5,441
3,470
Savannah Elec. Ry.-Fob.
585 def.1,431
0,931
Schuylkill Traction.. Mar.
7,098
’ *§',500
22.103
19,187
J ail. 1 to Mar, 3 1___
*4,824
11,304
•25,523
20,920
9,030
Scranton Traction...Mar.
75,437
56,965
Jan. 1 to Mar. 31___
34,434
10,227
121,991
194,781
243,968
July 1 to Mar. 31___
75,182
684
5,641
0,007
Sioux City Traot’ n. ..Feb.
57
12,247
12,498
1,738
535
Jan. 1 to Feb, 2 9 ....
3te!;i way Railway—
44,211
60,349
Jan. 1 to Mar. 31 —
20,129
11,397
3,663
.............
8,354
11.602
Torre If auto Eicetrlc.Dec.
34,052
.............
60,336
83,5u7
July 1 to Dec. 31---185,580
198,752
60,000
47,000
Third Avo.iUUN.Y.) Jan.
62,400
30,728
23,428
73,488
Toronto Street H v... Feb.
61,967
50,883
147,815
132,997
Jan. 1 to Ken. 2 9 ....
145,001
75,678
06,9-19
134,896
Twin City Rapid Tr. Feb.
159,389
143.903
290.927
303.974
Jan. 1 to Feb. 29---9,827
4,008
.............
Union St. Ry.fSav' w) Dee..
58,600
.............
Jau. 1 to Dee. 3 1 .,..
127,617
19,292
8,017
16,588
.............
Waterbury Traet'n. ..Feb.
33,830
17,337
............
40,738
Jon. I. to Feb. 2 9 ....
30,557
36,791
18,354
15,334
Wlikesb.AWy.Yal.Tr.JIar.
81,992
112,057
58,455
3 4,005
Jan. 1 to Mar. 31___
25,947
34,168
Worcester Consol__ Fab.
7,662
2,181
50,040
70,002
13,922
7,602
Jan. 1 to Feb. 2 9 ,...

$8

a Net earnings bore given ara after deducting taxes,
b Net oarnlnr- here given are bufurc deducting taxes,
* Includes Lake E-Hand Elevated Railway.

THE CHRONICLE.

724

interest Charges and Surplus.— The following Street
railways in addition to their gross and net earnings given in
the foregoing also report charges for interest, &c , with the
surplus or deficit above or below those charges.

[VOL. LXII,
BALANCE SHEET DECEMBER 3 1 .

1894.
1895.
Assets—
$
$
Road and equipm ent..................... 93,652,558 93,560,301
1,564,648
1,580.048
Bonds and stocks ow n ed ............
5 8 5 ,2 )9
717,564
Supplies on hand ..........................
32,977
75,834
Sinking fund J. M. <fe I. bonds__
401,043
382,4 l*
Betterments to leased roads ___
931,545
Cash...................................................
961.643
3,522,505
2,260,008
Due agents, companies, & c .......

Inter*L rentals, <£c.—. —Bal. o f Net Earns.—
1895.
1896.
1896.
1895.
$
$
Roads.
$
$
41,865
. . . __ _
.... ..
Buffalo Railway.......Deo.
45.848
210,736
3 0 9 ,5 17
408,917
527,513
Jan. 1 to Deo. 31 ...
121
17,395
2,197
17,870
Denver Con. Train w. Feb.
Total..................................
2,527
5,013
35,673
34, 90
Jan. 1 to Fob. 29---Liabilities—
87
585
1.045
235
London 8t.Ry.(Cao.) Mar.
Stock com m on*......................
224
l.OCO
Loraiu Street Ry (O.j Mar.
“ preferred*....................
def.419
3,000
Jan. 1 to Mar. 3 1 ....
B onds (sec S u p p l e m e n t ) . . . .
Newburgh Electric Ry.—
Cin.
Ry. Conn, bonds
.... ... Due Street
10,020
20,333
June I to Jau. 3 1 ....
Little M ia m i.... ..........
Rapid Ry. (Detroit)—
Current
acoounts
...............
7,473
10,625
July 14 to Mar. 3 1 ...
Due other com panies...........
Schuylkill T r a c tio n Interest
on
bon
ds!.................
3,310 del. 1,126
6,250
6,250
JaD. 1 to Mar. 3 1 ---Dividends p ayable....... .........
4,859
3,158
Waterbury Tract. Co. Feb.
M iscellaneous................ . . . . .
11,021
6,316
Jan. 1 to Feb. 2 9 ___
...........
Profit and loss, balance. ....

ANNUAL

Total

REPORTS.

Annual Reports.—The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published in the C h r o n i c l e since
th e last editions of the I n v e s t o r s ’ a n d S t r e e t R a i l w a y S u p ­

100,896,178

99,335,791

1893.
$
93,463,131

319.64S

819,339
13,941
409.431
890,332
2,025.902
97,946,724

25,017,119 2 5 ,l 15,925 25,412,840
22,681,482 22,652.566 22,576,051
47,621,000 47,355,000 43,571,000
262,501
262,500
262,500
77°,524
779,524
776,802
1.497,878
1,218.368
1,197,408
553,007
228,223
2,424,802
836,947
8o2,822
838,824
452,716
432,325
479.812
146.774
714,194
428,538
739.723
100,896,178

9 9 ,335 ,791 97,946,724

* Includes am ounts for other o m p a o ie s ’ stocks not yet exchan ged.
t Includes accrued interest and matured int rest unpaid.
—V. 62, p. 681.

Columbas Hocking Valley & Toledo Railway.

( Report fo r the fiscal year ending Dee. 31, 1895.1
plem en ts.
This index does not include reports in to-day’s Chronicle.
Under date of March 17, First Vice-President Samuel D.
R a il r o a d a n d M is c e l . Co ’ s ( C o n . )
R a il r o a d s a n d M is c e l . C o ’ s .
Davis says in the report:
Volume 62—
Page.
Volume 62
Page.
Increase in Passenger Business.—The gross earnings were
Mexican
National ..................... 586, 591
American Bell Telephone................ 633
American District Telegraph......... 230 Mexican Telegraph............................. 682 only $3,824 less than those of the preceding year : the ex­
American Soda F ountain.............. 275 Missouri Pacific.................................... 497 penses were $25,730 more, resulting in a decrease of $29,554 in
............................... 362
American Straw B oard................... 317 National Lead
Passenger revenue increased $16,571, or nearly
American Sugar Refining.............. . 587 National Linseed Oil ..................... 276 net earnings.
546 4 per cent, there being 17 per cent more pa-s -ngers handled,
American Tobacco............................. 317 N. Y. A New Jersey Telephone—
Baltimore Chesapeake & Atlantic. 274 Northern Central............................... 361
Bungor & Aroostook......................... 454 Northern Pacific................................. 546 and an increase of 24 p. c. increase in number carried one
Brooklyn W harf A Warehouse—
5-47 Oregon Railway & Navigation Co. 229
On the other hand there was a decre>se in the average
Canadian Pacific................. 632, 637, 661 Panama R R ........................................... 6S0 mile.
453 passenger rate of 11 *25 per cent, and in the passenger earn­
Central RR. of New J ersey .......... 3G0 Pennsylvania R R .....................
Central & So Am. Telegraph......... 682 Peoria Decatur & Evansville......... 681 ings per mile of 16-04 per cent, due to cheap excursions and
316
Central Verm ont............................... 315 Philadelphia & E rie...................
Chicago A A lton ................................. 359 Philadelphia & R ead in g.................. 360 largely increased use of mileage books, resulting in an aver­
Chicago Burl. & Quincy.. .66(>, 679, 685 Philadelphia Wilmington & Balt.. 229
road's
Chicago St. Paul Min. A O................ 410 Pittsburg & Lake Erie....................... 680 age rate per mile of 1-86 cents, the lowest in the
Choctaw Oklahoma & Gulf.............. 183 I Pittsburg A W e s t e r n ....................... 454 history.
Cincinnati Hamilton & D ayton.. . . 182 ; Quincy Mining Co.............................. 362
Prospects o f Better Freight Rates.—During the depression
Cleveland & Pittsburg....................... 546 St.Louis Merchants’ Bridge Term’l 362
Colorado Midland............................... 182 St. Louis Vaudalia & f . H .............. 273 in the early part of the year temporary demoralization of
Columbus Hock. Val, A Toledo . . . 182 South Carolina A Georgia................ 274
Commercial Cable Co.......................... 412 Southern N. E. Telephone.............. 318 rates occurred, resulting in low-priced contracts; it is be­
Consolidation Coal of M d................. 317 Southern Pacific.................................. 680 lieved that traffic agreements subsequently effected will prove
Cumberland Valley............................. 546 Street’s Western Stable Car Line.. 275
Delaware A Hudson Canal — 228, 410 Summit Branch A Lykens V a lley .. 500 beneficial and show improved results during the current year.
Delaware Lackawanna A Western 228 Tamarack Mining Co........................ 587
Change in Accounts.—On January 1, 1895, the new classifi­
Diamond Match..............................
317
Tennessee Coal, Iron A RR ............ 632
Edison Elect. Ilium., Brooklyn.184, 229 Terminal RR. Ass’n o f St. Lo u is... 499 cation of accounts prescribed by the Inter-State Commerce
Edison Elec. Ilium, o f N. Y . . . 184, 361 Texas Central...................................... 546 Commission went into effeot in our accounts, which in a
Erie Telegraph & Telephone......... 275 Texas A Pacific................................... 544
Huntingdon & Broad Top................ 316 Trenton Potteries............................. 317 measure destroys the value of comparison of the details of
Illinois Steel.......................................... 316 Union Pacific Denver A Gulf......... 546 earnings and expenses.
Keokuk & W estern............................. 680 United States Leather..................... 411
Coal Business.—The disturbed condition of mining rates in
Lake Erie & W estern......................... 360
St r e e t Ra i l w a y s .
Lehigh Coal & Navigation................ 362
Louisville Evansville A St. L o u is.. 499 Louisville Railway .......................... 411 competing coal districts mentioned in report of 1894 still con­
Maryland Coal (X)................................. 455 North Hudson County..................... 411 tinued duriDg the greater part of 1895, thereby restricting the
Mexican Central................................... 315 Sacramento Electric Pow. & Lgt.. 411
Mexican International........................ 680 Twin City Rapid Transit................... 500 output of the Hocking Valley field; present conditions lead
to the belief that the scale of mining rates substantially
Pittsbnrg Cincinnati Chicago & St. Louis Kailway.
agreed upon in the various districts will be maintained during
( Report fo r the year ending Dec. 31, 1895.J
the coming year, enabling the operators on yonr road to con ­
The annual report of President Roberts and an editorial on trol their legitimate trade.
Maintenance —As to maintenance the report says :
the operations of the year will be found elsewhere in to-day’s
Chronicle.

The operations, earnings and charges for four years and
the general balance sheet for three years were as below:
OPERATIONS AND FISCAL RESULTS.

1895.
1894.
1893.
1892.
Miles operated.........
1,151
1,151
1,144
1,144
Opcranons
PaeseDgere carried. 5,881,636
5,627,931
6,340,723
6,407,515
Pass. ear. 1 m ile.. ..167,624,410 154,785,052 216,435,066 159,820,489
Rate per pass p. m .. 2-02 cts.
2-10 cts.
1 9 5 cts.
2 1 7 cts.
Freight, tons, oar'd. 11,648,499 10,381.338 10,301.725 11,357,213
Freight, tons, 1 m ......................... 1490371556 1521697797 1669537976
Rate per ton p. tn
0-65 cts.
0-65 cts.
0'68 ots.
0 68 ets.
Earnings—
$
$
$
$
Passengers.................
3,4«9,640 3,357,628
4,329,043
3,578,380
Freight...... ............ 10,645,368
9,741,14? 10,281,475 11,323,417
Mail, express, A o ... 1,294,698
1,149,086
1,140,290
1,258,878
Total.................... 15,439,706
Expenses—
T ransp ortation.......
6,267,108
Maint. of equipin’t.. 2,346,875
Maint. of way, d o ..
1,703,386
General ex p en ses...
273,161
T axes.........................
658,015

14,247,856

Total.................... 11,248,545
Net earnings............
4,191,161
P. o. op. ex. to earn.
72*85

10,765,520
3,482,336
75*56

15,750,808

16,160,675

6,471,945]
2,052,024 I!
1,340,681 !>12,034,631
267,247
633,620 J

12,260,985

12,034,631
3,716,177
76-41

12,260,985
3,899,690
75-87

INCOME ACCOUNT.

1895.
if

1894.
$

1893.
*

1892.
$

4,191,161
783,032
43,665

3,482,336
472,200
16,023

3,716,177
489,255
14,046

3,899,690
483,933
12,914

T otal..................
Dish u rsem en Is—
Interest on bonds ..
Rentals paid............
Car trusts One. int.)
St. L. V. A T . H. loss
Miscellaneous..........
Div. on pref. sto ck ..
Rate of dividend___
Ko. & H. Bridge suit

5.017,858

3,970,559

4,219,478

4.396.587

2,522,130
1,161,913
36,460
222,085
52,375
452,716
(2 p. C.)
284,525

2,407,582
813,838
38,761
59,456
15,428
459,497
(2 p. 0.)

2,387,215
813,922
94,897
49,902
43,911
908,154
(4 p. c.)

2,323,594
802,085
102,414

T*H1...................
Balance, su rp lu s....

4,732,204
285,654

3,794,562
175,997

4,303,041
def.83,563

4,130,420
266,167

Receipts—
Net earn, o f P. Cin.
Cbic. A 8t. L .........
Net rev. o f otb. r’ds.
Miscellaneous..........

5,680
896,847
(4 p. o.)

Two standard mogul freight engines were purchased and charged t o
maintenance, and one old engine sold. A new oaggage and m all car
was purchased. Twenty-five large capaoity flat oars w ere built at the
shops, and 125 m ore thirty-ten coal cars were ohargcfl to m aintenance
during the year. One hundred side dump coal oars o f thirty tons ca­
pacity, referred to in the report of 1894, were received early in the
year, and 1,000 new gondola ooal oars of the same oapacity were re­
ceived dm in g the summer months. All o f these cars were equipped
with autom atic couplers, and the side dump cars and 50o o f the g o n ­
dola coal oars with air brakes. The freight equipm ent is now In good
oondition fo r Increased traffio.

As to the track, roadway, See., the report says :
The track and roadway reoeived the ordinary renewals with an In­
creased amount of ballast, and show continued Im provem ent; the long
trestle over the valley o f the Delaware Run has been fille d ; buildings
and structures received the usual repairs, and duriog the year 77 m iles
of standard fencing was built and 24 miles o f telegraph line renewed.

Construction.—Amounts charged to construction aggregated
$16,307, including $5,856 for reduction of grade, and $4,404 fo r
real estate in South Columbus, where a freight station has
been built, and at Hookers. A further reduction, from 16 to 13
feet per mile, was made in the grade of main track for two
milts north of Delaware to equate for curvature. There now
remains only eight miles (Ackerman to Powell) of the entire
distance from the coal mines to the lake in which there are
any grades exceeding 16 feet to the m ile.
Car Trust and Land Bonds —Of the car trust bonds, 130
were purchased and canceled during the year. The 350 bonds
which were reserved for the purpose of purchasing new
equipment were applied to the purchase of the 1,000 gondola
cars and 100 side-dumps previously mentioned. This new
equipment is to be charged to maintenance during the life of
the bonds. Three hundred additional bonds of the Ohio Land
& Ry. Co. have been sold and the proceeds applied to the pay­
ment of land obligations.
Wellston & Jackson Belt Ry.—Under a contract of June 22,
1895, this company has guaranteed by endorsement the prin­
cipal and interest of the $300,000 6 per cent twenty-year
bonds of the Wellston & Jackson Belt Ry, Co., secured by
first mortgage upon its line of railway extending from Mc­
Arthur Junction through the city of Wellston and the Jackson County coal and iron fields, a distance of 17 miles, to the
city of Jackson. Your company secured a control ($255,000)
of the capital stock of the Belt Ry. Co., and as further pro-

C H R O N IC L E .

Tiofd by the contract was to operate that portion of the lin**
ext* tiding from McArthur Junction to the city of Wellscoo,
with the right to run passenger and freight trains to Jackson
upon the payment of a trackage cb *rge. Your company as­
sumed operation from McArthur Junction to W ellnoa oq
December 2d and to Jackson on Feb. 10th.
Bonds Meleased.—On Jan. 23, 1398, the Supreme C rare of
Ohio handed down a decision which released to vourc rmpa- y
|382,000 o f 6 per cent bonds deprshed with the A lan ic CrusCo. of (few York in lieu of a court ooad.—(3 je V. 03, p. 413.)
Statistics,—The operations, earnings and expenses, i-icomr
account, etc., are shown below.
oi-EfLirtoss.
1894.

1895.
974.251

Passengers carried.

Passengers ear. lrn. 23,635.434
Bate per pas. per in
P>-6 ot».

1893.

1892.

832.119
9 *5.751
990,845
19.1-1-'. its 21.671. <>0 2!,ss gnu
2-35 eta.
2-36 eta.
2-2 t ots.

3,561,952
..................................
Fr'giit ‘ tons) moved 3,233,933 3,204,997 3.53*2,176
Fr'cht (tons) 1 mite. BfhT16,443 35 . >95.583 431. '47,3 tl 413.927,390
Kate per tea per in. 0-5*0 ots. 0*807 a a. t'6 Jl ets. 0 619 cts.
E A R X IS G S A S D E X P E N SE S,

1895.
Earnings—
*
441,334
Pam evgem ....... .
Frititht............
. 2,144.969
90,118
Mali, expre-w, ©to. - *
Total ..............
Expense*—
Conuact'K tr»n-*p...
Mai at of equip t. ..
Miiiat. of way, At-....
General.....................
Taxes ......................

2,676,121

Total expenses.
Net ca m io n s _____
Per e.ofexp.to earn.

1,566,705
1,109,656
58'53

1*94.
$
424.763
2.152,335
111,*,00

533,946
2,004.673
130,743

1892,
S
530,718
2,684,084
157,783

2,693,698

3,270,302

3,372,585

890,991 i
247.879 1
232,1*37 ; 1,538,390
101,007 |t
90,95 i ?

1993.

1,901,432

1,390,444

1,538,890
1.146,302
57-20

1,001.433
1,363,930
53-14

1,390,411
1.492,141
.56-05

* lueiaile* ear mileage ami mlseellaneou*
nccona ACCOUNT.
1391.
! 895.
©
*
1,109,656
} e t earning*...........
10.000
19,006
Other lt c me. ........

1893.
8
1,3» 9,630
10,000

7 25

R allrO-ad and Miscel. Co’ s (Coe.) R ailroad and Mtscel. Go’ s (Con.)
Volume 62—
Page.
Volume-62 —
Page.
Chicago & No Pac............... .reor1. 517 Northern Pacific. Br. Line defaults. 590
Chic. Peoria ft St. Louis., .pUm.232, 3*9
No. Pac. k Montana,..... ... reoro. 884
Choctaw Oklahoma & G..pCm..547, 583 Omaha k St. Louis.... .
.... mid 331
Cm. Jackson & Mack ........r-ory. 277 Oregon Improvement Co..... com. *65
Cin. & Muskingum V a l l e y . . 548 Ore Ry. & Nav..... plan operative 278
Tlevelaad & Canton.......... Jo red. 035
do do
.................. ...sale 365
do July. S95. clip, in def. 40, 232 Ore. Short Line k Utah No.plan.503,501
Ccetir d’ Alene Ry. & Nav........com. OS-5
do
do
do --- reorg 549
Colurn ft H. Coal ft lr.coup.277.503 589 Peoria Decatur & Evansv.... .reorg. 186
do
do
.... ...reor;?. 035
do
do
....coup. 365
Det. Lansing ft No. .vian. 319? com 458 Philadelphia & Reading ...deposits 188
do
do forcL 589; ieorg, 635
do
do
.....reorg. 365
do
do
reevr. 083
do
do
........... sale. 590
Detroit Mack, ft Marquette c <up. 683 Phlla. Reading & N. E.,........ reorg. 549
Dnlnta Transfer......... default 282. 277 Pittsb. Clev. & To! .com. 591; coup. 634
do
do
........ . ...com. rSJ Pittsburg Marion & Chic,. .s ds.503, 591
Duluth & Winnipeg..* D.320. 50% 035 Pitts. Shemmeo & L. E.......consol, 684
....
reevr.
4'>2
Ft. Worth & Denver City ....rmrg. 233 Pittsburg & Western
........................
.............
General Electric................... com. 320 Seattle Lake S. & E. .reorg. 415,594, 848
Georgia Midland k Gulf.. -.rcirg. 0S3 1
do
do .................sale 0*80
Grand Itapids A Ind. .**i5%502; r.w. 548 ! So'west’n Ark. & Ind. Ter.....reevr. 594
Green Bay Winomi Jt Si. !*.safe.589. 083 ; St. Joseph A Grand Island ... .sale 279
Interooeanlo Ry of Mex..pla« 3*u, 683 ;
do
do
...rearu me
Jackson v. Tampa k K. W .sale 8*M, 114 - St. Louis .Alton A T.H, ease 088, 084
Kansas City k Omaha....... Jared. 503 St. Loais & San Francisco.. .rmrg. 300
Ksnderh. k Hudson,.com. 277; sold 502
do
do
..coup. 591
Knoxv. Cnmb. Gap k L ou..... mi 0 3 Staten Island R. i’ . .........coup. 034
Little Roek k Memphis
*ale 364 Toledo St, Louis & R, C.. ..r org. 330
Lou. Ev. k St. L. .reorg. 186; fared. 502 Union Pacific........ .coup. 187, 415, 689
do do ca*i nge in r cvrs, 580, 035
do do . . . . . . . . . . . . .reorg. 187. 462
Louisv, St. L. A Tex..rmr-j. dewmt til
Kansas Pacific ......
plan 284
do
do
\ .. .sale. *'89, fi<i i; Union Pacific Denver A G.... r ora. 866
Marietta k North Git...resale 503. 548 United States Cordage.../ored.187, 321
Memp. & Char. .coup. 233; pi n 157, 589 West Va. & Pittsburg,.... ...coup. 384
do
do . ...com i5': re&rg. 635
St r e e t r a i l w a y s .
Mexican Nat,, .me. coup*. 59% plan 635
Mexican Southern.... .re.idiust m't. 590 f Brooklyn Traction.. reorg. 418,150, 588
Montgomery *use. A Memp-.r nro. 590 ! Chattanooga Electric......sofet.418, 588
New Orleans k Southern...... plan, 50O Columb A Maryland (Elec.)-.recur. 5*89
N. V,
Penn, ..
k Ohio
..sold 4 1 ^ -r. 457 Houston City 8t,................sate 518
------..................................I
Norfolk ft Western.. .pta ‘ 6‘io, 630, 041 jMadison City (WIs.'i ................ recur.111
Roanoke k So ..... plan aeo-p-ed >’<i Mobile A Spring Hill........ .....*«te 083
Northern Pacific...reevr*. 333. 4fl. 462 ;San Fran, k San Mateo .........safe 684Northern Pacific ...
.
..Cam. Mh iSyracuse St. RR reeves, k rrorg.591, 611
do
do iPan..527.549. 550. 636 - tfn r lee Ry.(Saratoga,N. Y.)..recvr. 553
.

TH E

April 18, 1S96.)

America*) Bell Tel**pni>ae.—O p’ ion to Subscribe .—The
81,500 -tuir> < of new s ock ar-* tf-red to «*ockholders of
March 'll itr §206 p*-r -bar-, th * prh-ile<e exfiiri'iK M iv 16 at
ten oYlock, and p)vm**n)s i<> ht* u n d e one in i; July l and
one-half Oct. 1 .- V. 63. p. 663.
1992.
Anthracite (' m! K*iada,-.4«fi 7 rust Bill Signed .—Governor
*
1,482,141 Mort--i! on WednestUy signed the act which was draf ed
10.00 f especially to O fre n any c-imbina’ ion » n » a ; the anthracite
coal roads. It amends a law pisied M vy 17, 1891, entitled
1,41*/, m
“ An sc to prevent monoo'dtes in articles of general neces923.030 sify." and provides subnauttaliy as follow-*:
51,327
9.-i*l! >u 3. Every •-orporatloi). or oihe-r thereof, tint shall m ike aay

1,129,262
1,159,902
1.378.03O
Total.......... .
D ttlurtm *,ooo
list, om fumled dob'.
929,030
923,030
€S«,*0#
92.573
1st. , k , on me |*f$t*
96,765
14.^03
6,456
19,604
On *>r Inter, -t ........
4,455 .K nsnisat.er shall i-m«r Into any iiotulloatlou for Ihaparposoof pro_
- ,
20.801 yeatlmt competition In the supply or prise o f any aruale !u comm >a
23,765
25.040
Rental to Peun.Co..
Dlvid. on pfd.etoek. (IHHCO.OOi) (SftluO, 00 <$90104.00 * (2 heo 50,030 o»eIn tin* State, or that shall attempt or actually oomlnot any bilsitu-* In >hi* State pursuant to any aoeta aeraMnsnt or oomblnatl in.
!,• 53,616 Wherever the * «n » may tw» male, **r alitiil tn this suite aid la a irrylnsc
1,141,231
Total................... 1,138.799
1,115,941
out
the contract or arranvenieni. wherever the « vne may he in l ie,
416,525
262,08)
9.572
Balance..................
201.514
421,001 •halt he de««ne*t gallty of a misilomoanor, - V. 62, p, 587.
Cooftt’u, i«|i*lp., Ac..
•*—
At*hl*')ii Twpek i A S t a ll Fs Ry.—Listing. -T h i cout8,572
14,614 paoy'* new secumie-, were listed this week on the Mow York
8'irpla* for year. det.9,537
1,475
OKNKR.U. Ha LASCK SHEET !»«C. 31.
1894,
1895.

AtMU—

IS

Coe struct ion, - t r ..........................It’ ,648,* "2
Shop ioou and machinery
67.3 )0
Road tool* and tnucfcinery..........
Equlptmuit............. ....... .......... 3,473,H59
Equipment under ear trusts,
____
Equip. charged to maintenance..
701.286
Car treat bond* held for pur­
chase ef new c-quintm-nr. ......
.......
Advances to HoeK. C. A KB........
.......
8»p:*il*'< -*n baud ............ . . . . . .
72,501
Stock* and bonds ....................... 8,157,000
Bill* r<*-e|Table......... ...............
........
Due from agents............ ....... . . .
100,430
One from railroad*.....................
89.210
Dae from ottieraccount*.,.,, . . .
142,396
Advance* to land trustee. ..........
.....
Preferred *took in treasury . . . . .
500,000
Bond* In treasury..... ........ ...
362,000
Cash o n Uir u l ...... .................
.. .
174,719
Deposited alert At rrtte to o ___
aao.ooo
Deposit in Jf. V. fur e-iowwi*......
-12,080
T o ta l..................... ..................33,131,587
lAeibilitU, -

*

1893,

4

67,53*.*

16.602,136
67.V30

3.173,849

8,133.501
811.836

10,832.564

16,61-i

16,012

407,374

35',000
475.670
60.507

78,020

i, 0 0 1 . '8 ) i )

8,010,500

06,24#
5 4,354
120,151

52,122

5no'o’ »

382,030

1,928

60.780
507,615

050,07.5
500.000

187.377
260,0 m
36,388

81.445

33,101,254

32,604,164

Ospltai stuck common . . . .......11,696,300 11.091.100 11.81«,1 >0
2,500,904
Capital atook-piefnrred.............. 2. .00,000 2,300.000
Bonded debt <»ee I nvest. See i . .46,065,000 16,015.040 15.703, 100
Bli ts payable..................................
622,200
411.700
71*), 9 15
162,290
Extended ear trust note*...............
........
..... .
Car truat n o te s ...................... ..
___
____
841,836
Cartraot bund*.........................
1,419,000
1,649,000
271,3*7
Acorned Interest on bond* ..........
271.337
271,337
423,129
Due tloeklr.* Coal * HR. Co........ .
.......
........
199.869
Diiu on other scocunt*.......... .......
206,072
164.«4 l
99,273
Proilt and l<>«............................... 231.097
321.472
T o t a l-...,..... ............................. 33.131,587 33,101,254 32,604,165
-V . 62, p. 648.

GENERAL

INVESTMENT

NEW S

*^Ke<»riai!iz4tUtaa EUt.—Late$i Data as to Defaults. Reorgnntsatum Plans. Pttpmnt o f O verdue Coupons, Etc.—
All facts of this nature spp-aring since the o ibltouio i of me
an issues of the Lvvbstobs’ and Stu bs f R ailway poppls M£318 oaay be readily found by means of the following index
Thu n*1»x do<*9 not include mat'er in to-day's (JilsoNlCLg.
f W F o r other minor companies see also index C h r o n i c l e
fi>h. 8, p . 276, March 7, p. fSo, and April l l , p, 682.
R »lt»4 M API* 54ISCEL. Co s.
R a il r o a d a n d M j s c s l , C o 's { C on )
Volume 0*J—
Page,
Volume 62—
Pag*.
MC:W«D k Pike’s Vmk....... xom, Em C e d a r r a il s k M i n o l t a . . . . . . f m - d . 58*
A t l. k Pac*

*

'orttA, »uU , 184, reevr. 231

rc ft Ohio............

....
&Vamei#?r*ikin

C*% T

do

r s f r 'M I i

C em rai firanch, U o. P a c .......... com SIS

Central Ohio. ....... — .......coup, «&5
Central W a a h l n s r D.<.*rtwg.
m or$. m
SOlI

.COm'ti. Wo, m‘ Central Vrnmcm4,rt&&r',t, &88; com. ©W

a & S tB

S ock Exchange
follow ,; U*nerai m>r K**e bmd*. $33,OtO.OOf): txijast-nsnt raortxaao bonds. §tl,2J0,O00 ; preferred
stoclc, $SN),'R)9,<W0, Additional amounts will be added from
time to time as issued.
Full abelracta o f the morttfwtes socuriog the bonis will be
found on subsequent pig s of to-dav'a OllUONtChB The stock
is transferred at the eotnpioy's offlee, 59 Cedar Street, the
registered general mortgage bonds by the Union Trust Co.
and the registered adjustment bonds by the Central Trust Co.
Earning *.—The earnings of the 6,481 miles of railroad now
comprising the company's system have been as follows:
Ft,eat year
ending
June 3) , '94,
8
OrtMW rarolOK*....... ............31.985,654
Operating expoo***) .............. 22.537,3*9

fiscal year
Screw mat.
ending
ending
June 30,'95- Jan. 31, '90.
$
#
88,532,983
17,894,026
22,317,355
13.584,875

7,829,255
1,698,182

6,215,628
1,733,647

4,309,151
1,009,567

6.130,073

4.461,981

3,299,585

Income from Investments
414,81*2
560,935
55,530
BalAne-applicable to Intare.t, 6,691,009
4,876,293
3,366,115
•The entire fixed charge-* of the company are approxi­
mately $4,730,000 per annum," In addition to this the interest
on tbe adjustment mortgage bonds, payable only so far aa
earned, will amount to $2,000,120.—V, 62, p. 682.
Atlantic & Pacific HR, —Atchison Topeka & Santa Fe
Ky.—Apportionment o f Earnings.—Regarding the report of
tne arbitrators on the division o< earnings, referred to in our
last issue, the Atchison management estimates it will increase
the Atlantic & Pacific percentage o f earnings on through bus­
iness between the Pacific c wist and Missouri River points five
or six per cent or s»y $150,000 to $200,000 per annum. This
will enable the A, & P, to meet its share of the Mojave divis­
ion rental, The report of tbe arbitrators on tbe matter of the
Mojave rental, it is said, will make no change, as it is in ac­
cordance with the apportionment agreed upon by the reorganizition committees o f the two companies.
Decree o f FordOSUre Signed —At Albuquerque, N, M., on
the lOth inst., Judge CoJIbr signed the decree of foreclosure
against the Atlantic & Pacific, and ordered the property sold
a* public auction at Galiu ■, N. M-x , uilest tbe company
-hall pay within ninety days the amount due on the bonds.
The upset price is fixed at $5,000,000. The decree covers the
property in Mew Mexico, but no decree in Arizona has yet
been given. Similar proceedings will be taken in the other
judicial districts through which the road runs.—V. 62 p, 682. •
Chicago A Northern Pacific R R .—Settlement with Northern
Pacific,—Mr. J. Edward Simmons, Chairman of the Chicago
& Northern Pacific Bondholders’ Committee, has authorized

726

THE CHRONICLE

the following statement regarding the terms of settlement
offered by the Northern Pacific Reorganization Managers and
Committee, and unanimously accepted by the Chicago &
Northern Pacific Bondholders’ C mnittee, subject to the
ratification of the certificate h< ldeis :
“ The Chicago & Northern Pacific is to include in the reorgarizilion on terms that meet with the unanimous approval
of the Bondholders’ Committee, the securities of the Calu­
met Road, which has always been operated in connection
with the Chicago & Northern Pacific, the bonds and stock of
the Calumet being owned by the Northern Pacific.
“ The Northern Pacific managers agree to return to the
Chicago & Northern Pacific Bondholders’ Committee the
$2,ouO.000 Chicago & Northern Pacific bonds, for the recovery
of which suit has been brought by that Committee.
“ In view of this settlement the Chicago & Northern Pacific
agrees to relinquish all claims against the Northern Pacific,
and the Ncrthern Pacific will relinquish all claims against
the Chicago & Northern Pacific. This agreement, however,
does not include the claims between the respective receivers
of the properties, which are to be settled on their merits. It
has also been agreed that the Northern Pacific managers and
Reorganization Committee will give the Chicago & Northern
Pacific Bondholders’ Committee every assistance possible in
obtaining possession of their property under foreclosure and
sale.”—V. 62, p. 547.
Choctaw Oklahoma & Null' RR.—Reorganization Plan.—
The plan for the rehabilitation of this company, which was
published in the Chronicle, issue of March 28tn, has not re­
ceived the necessary assents to make it operative. One or
two financial institutions in Philadelphia, largo holders of
the securities, refused to assent to the plan. It has been sug­
gested by some of the general mortgage bondholders to cut
off two years’ coupons, which would enable the company to
meet maturing car trust payments and possibly to build the
eight miles of road from Wister Junction to this Kansas City
Pittsburg & Gulf.—V. 62, p. 598.
Colorado Midlaud Ry.—No Reorganization Plan till after
June 35, 1896.—The Oicott Reorganization Committee has
sent out a circular containing the statement of earnings
below given, and also the following: “ Though the results
from the operation of the road as an independent line, under
the management of the new Receiver, George W. Ristiue,
have been very satisfactory, no plan of reorganization has as
yet been matured, because it is deemed advisable to ascertain
the earning power of the road for the full twelve months
before taking final steps to rehabilitate the property.”
Earnings.—The results are reported as follows for the six
months ending Dec. 31 and the years ending June 30 last,
the interest on Colorado Midland bonds not being included.
6 months
Gross
Net
Taxes,
to Dec. 31.
earnings, earnings, rentals,etc.
Balance.
1895................................ $958,645 $299,868 $77,822 sur. $222,046
1894........
806,323
101,158 (est)73,000 sur. 23,158
Year—
1891-95........................... 1,592,457
368,947 158,612 sur. 210,335
1393-94........................... 1,463,256
121,667 156,010 def. 34,343
a v . 62, p .318 .

Trie R R .—Suspension Bridge & Erie Junction R R.—
Merger.—Articles of merger of these companies were filed in
Albany this week with the Secretary o f State.—V. 62, p. 683.
Great Northern Ry.—The result of traffic operations for
the six months ending December 31 has been reported as
follows. Income from steamships, investments, rentals, See.,
is not included.

VOL. LX II,

carried approving the scheme of readjustm »nt, and authoriz­
ing the b mdbolders' committee to take all necessary steps
for rendering it effective.—V. 62, p. 635.
New York Chicago & St. Louis Ry.—New Car Trust.—
A car trust for $400,000 has just been created, covering 13
engines and the 500 cars whicu have recently been ad le i to
the equipment. The trust runs f.ir fifceei years at 5 per cent,
and the payment for the equipment will be made by the com­
pany in fifteen annual instalments. Besides the small trust
just created there is understood to be only one other, which
was created several years ago. It is for $800,000 aad runs for
eight years.—V. 62, p. 365.
Norfolk & Western Kit.—Notice to Maryland & Washing­
ton Division Bonds.—Wood, Huestis & C >, 31 Pine Street,
New York, ask holders of abore bonds who are dissatisfied
with the terms offered them in the plan of reorganization
dated March 12, 1896, to communicate with them before de­
positing their bonds under the plan. They are informed that
their division earns 4 per cent, while under the present plan
the fixed interest allowed them is only 2'80 per cent. They
believe the bondholders should have better terms or take the
property.—V. 62, p. 684.
Northern Pacific RR.—Reorganization.—W e learn author­
itatively that holders of nearly Sl0,000,000 of the general first
mortgage bonds have deposited their holdings under the plan,
presumably to avoid the danger of redemption from land sales.
A large amount of the bonds will soon be called for the sinking
fund at 110, whereas under the plan of reorganization they
will receive 135 per cent in new prior lien bonds that are not
subject to redemption and 3 per cent in cash for the coupons
maturing July 1, next. The assent of these bonds is an im­
portant occurrence, since it reduces the fixed charges of the
new company and consequently increases its financial sta­
bility.
Helena & Red Mountain Ry.—Notice to Bondholders.—
Helena & Red Mountain bondholders are requested to send
their D am es to Mr. Arthur Lincoln, care Messrs. Edward
Sweet & Co., 38 Broad Street, New York.—V. 62 p. 684.
Northern Pacific RR.—Northwest Equipment Co.—
Plan Approved.—The board of directors of the Northwest
Equipment Company of Minnesota unanimously recommend
their stockholders to accept the terms offered them in the
Northern Pacific plan, and on or before April 23 to deposit
their certificates of stock with J. P. Morgan & Company, who
w ill pay the holders par and interest at 6 per cent from April
1, 1896, up to the date of payment of the principal. A
majority of the stockholders have already assented to the
above deposit. A dividend of two and one-sixth per cent
has been declared to clear off accumulated dividends up to
April 1.—Y. 62, p. 684.
Omaha & St. Louis My.—Bondholders' Meeting .—The
Roosevelt Committee gives notice that a general meeting of
the holders of the certificates representing the bonds will be
held at the office of Edward W. Sheldon, No. 45 Wall Street.
New York, on April 27, at tw elve o’clock noon, as follows:
(1) T o consider what disposition shall be made o f the railway pur­
chased by the Committee at the sale held January 27, 1896, and any
offers for the purchase of such property which m ay bo submitted at
that m eeting; (2) To consider whether anv new plan of reorganiza­
tion should be adopted; (3) To take such action as may be necessary
to carry out any resolutions adopted at such m eeting.—V. 62, p. 590.

Oregon Short Line & Utah Northern My.—Penalty on de­
posits after May 1.—The Reorganization Committee, Samuel
Carr, Chairman, announces that the time for depositing all
6 ms.end.
Gross
S et
Bond ini.
P ref. stock
Balance, classes of securities has been extended to May 1. After that
Dec. 31. earnings, earnings, and guar.divs. dividend.
surplus. date securities will be received at the discretion of the com­
1895.. -.*11,639,227 $5,963,3.51 $3,253,742 (2is)*625,000 $2,084,609
1 8 9 4 .. .. 9,887,841 4,875,096 3,112,133 (2%) 625,000 1,137,963 mittee upon payment of $50 upon each bond and $1 per share
—V. 62, p. 636.
upon the stock in addition to the regular assessment.
The following securities have been deposited under the
Kinderhook & Hudson RR.—Reorganized Company.—This
company, successor to the Kinderhook & Hudson Ry., fore­ plan : Consols, $10,492,000, or 97 per cent of issue; stock,
closed, has filed articles of incorporation. Its capital stock $24,550,000, or 93 per ce n t; Utah Southern general mortgage
Is $170,000 and its directors are William H. Travers and bonds, $1,431,000, or 93 per cen t; do extension bonds, $1,763,Samuel R. Rainey, of Hudson; J. Spencer Hosford, of Kin­ 000, or 90 per cent. In addition $12,749,500, or 98 per cent
derhook; Joseph Mullin and Talcott H, Camp, of Water- of the collateral trust 5 per cent bonds have assented to the
town; Dean Sage, John G. Parsons, Jr., and J. M. Sage, of plan.—V. 62, p. 684.
Albany.—V. 62, p. 502.
Pennsylvania MM.— Fiftieth Anniversary.—At Philadel­
Louisville Evansville & St. I.onis RR.—Receiver fo r en­ phia on Monday was celebrated the fiftieth anniversary of the
tire Line.—The United States Court at Springfield, 111., has incorporation of the Pennsylvania RR. Co. Receptions were
accepted the resignations of E. O. Hopkins and James H. given to over a thousand guests, and at the Academy of Music
Wilson as receivers of the Western Division, and has ap­ a large audience, including the Justices of the Supreme Court
pointed G. T. Jarvis as receiver of entire line, taking of Pennsylvania, Governor Hastings, the Judges of the United
effect May 1. The 5 per cent bondholders have nominated States Court in Philadelphia, Mayor Warwick of Philadel­
E. O. Hopkins as their representative, and he will probably phia and many other distinguished persons listened to wellbe associate receiver of the west end, with advisory powers, known speakers. President Roberts traced in an interesting
under Receiver Jarvis and theJJnited States Court, and with manner the history of the company from its incorporation in
full access to all accounts.—V. 62, p. 635.
1846 until the present time. Other addresses appropriate to
Macon & Northern RR.—Central of Georgia Ry.—E x­ the occasion were made by Governor Hastings, Mayor War­
change o f Securities.—The holder of each certificate repre­ wick, Frederick Fraley, Vice-President Brooks and Joseph H,
senting a deposited bond of the Macon & Northern RR. Co., Choate.—V. 62, p. 590.
upon payment of $13 25, and the surrender of such certificate
Pittsburg Cincinnati Chicago & St. Louis Ry .—Annual
to the Baltimore Trust & Guarantee Company, Baltimore, Meeting.—The annual meeting was held in Pittsburg April
Md., will receive: Central of Georgia Ry. Co. 1st mortgage 14. Three directors were elected to serve until April, 1900, as
(M. & N. Div.) 5 per cent bond scrip, $383 91; do 1st preference follows: Briggs 8. Cunningham, Cincinnati; George Willard,
o pi r cent income bond scrip, $301 64; do 2d preference' 5 per Chicago, and Joseph Wood, of Pittsburg. The annual report
cent income bond scrip, 228 51, which will be exchangeable will be found o n subsequent pages of to-day’s C h r o n i c l e .—
into bonds when presented in lots of $1,000 or multiples there- V. 62, p. 684.
o f . - V . 61, p. 471,
St. Joseph & Grand Island—Reorganization Plan.—The
Mexican Nationnl R R.—Plan Approved.—At the meeting reorganization plan has been agree 1 upon and will be made
in London, March 31, of the second mortgage “ A” and “ B” public in the course of the next few days.—V. 63. p. 366.
bondholders, Mr, H, W. Smithers presiding, resolutions were
For other Investment Items see page 7 42.

THE CHRONICLE.

A pril 18 1896.J

Brought forw ard................................ - .............. .......................

g> t p o r t s a n d J } o c u m c u ts .
PiTTSBURG CINCINNATI C H IC A G O
LOUIS R A I L W A Y C O M P A N Y .

Sc

ST.

SIXTH A N N U A L REPORT FOR THE YEAR ENDING
DECEMBER 31, 1895.
Pittsburg, Pa ., April 14th. 1896.

Chicago &

T o ih s Stockhold ers o f th i P ittsb u rg C in cin n a ti

St. L o u is R a ilw a y C o :

Your Directors submit herewith their rejx>rt of the opera­
your line, a n l o f the other roads in which you are
interested, for the y eir ending December 31st, 1895, show­
ing the physical coalition o f these properties and the finan­
cial condition of your Company at that date.

tions of

PITTSBURG CINCINNATI CHICAGO A* ST. LOUIS R A ILW A Y .
Main Line (including Steubenville Extension Pennsyl­
vania Railroad, 1*23 miles)...... ................. ....................043 39 miles.
Branches............................................................................... 148*13 "
Line w*ed jointly with other companies!............................. 50*47 **
Total............................................................................1,150*00
1895.

EARSI5(iP.

Freights............... *n> •i ••-

Passenger*.

Expr©.-***............

M alls........ ..........

Rent of railway.
Other rents......
Miscellaneous...

■

3,499,630 05
421.035 S3
060.131 14
4 4,877 IS
S.8S4 34
150,170 14

1801.
*9.741,141 55
3,357.027 9 1
330,097 20
660.406 42
39 951 87
21.405 88
97.161 78

To aU . . . ....... *15,439,706 82 *14.247,855 73
Earns, p. m of road.
*13,414 28
*12,378 78
Ex n ;s !*>:«.
1894.
1895.
Main, of way As! rue. *1,703,386 15 *1.340.680 86
Main, of equipment. 2.346.875 14
2.052.024 02
6,471,945 46
Conduct’# tranpru. 6,267,108 46
207,249 00
General expense*..
273.161 40
Taxes......................
658,014 33
033,620 48

Inc. or Dec.

I. *901.226 60
I. 142,012 01
I. 01,538 54
D. 275 28
I. 4,922 31
D. 12 581 54
I. 02 003 36

Inc. o r Dec.

Totals................*11,248,545 48 *10,765.519 82
72*85 p. c.
75*56 p. c.
Gross earning* of the Pittsburg Clnelnnatt Chicago A St. Louts Railway......... *15.439,706 92
Operating expenses.................. .............. 11,249,545 48
Net earnin gs....................................

General interest.......................................

Interest on Investments ...............

Deduct:
Amount paid in settlement of decree in
suit upon Keokuk & Hamilton Bridge
contract, and other accounts...... : .......... $284,524 66
Amount carried to credit of dividend fund,
being 2 per cent on preferred stock.......
452,716 00
------------------Balance to credit profit and loss Dec, 31,1895.........

'$‘ ,4j',43S

737,240 66
$714,194 42

Statem etit show ing the con version a n d retirem en t o f stock an d
also the issue, exch a n ge an d retirem en t o ) bonds d u rin g the
y ea r 1895, and the amount o f each o u tsta n d in g a t the close
o f the yea r.

STOCK.

There was issued during the year 1895, under the agree­
ment of consolidation, in exchange for stock of the constitu­
ent companies, stock of the Pittsburg Cincinnati Chicago
& St. Louis Railway Company, as shown below, viz.:
In exchange for—
613 shares common stock Pittsburg Cin­
cinnati A St. Louis Railway Company
at $50 each.........................................
8 shares common stock Steubenville A
Indiana Railroad Company at $50
each....................................................
175 shares common stock Chicago St. Louis
& Pittsburg Railroad Company at
$10<> each...........................................
64 shares preferred stock Chicago St.
Louis A Pittsburg Railroad Company
at $100 each...... ...............................

$30,650 00
400 00
17,500 00
6,100 00

$54,950 00

Also under the agreement for reorganization of the
Columbus Chicago A Indiana Central Railway Com­
pany, in conversion of the following securities of that
Company:— I. *1,191,851 09 330 shares common stock at $50 each.......
$16,500 00
10 17
I *1,035 50 Scrip certificate for $20 35 at.....................

R atioofex p . toearo.

Add:-—

727

Total exchanged.

I. *362.705 29
L 294*851 12
which stock of the Pittsburg Cincin­
l>. 204.937 00 For
nati Chicago A 81. Louts Railway Com­
I. 5,912 40
pany
was issued as follow,:
L 24,393 85 Common
stock........................................... $36,143 51
Preferred
stock..........................................
35,316 66
1. *183,025 06
D. 2 71 p. c.
Total Issued during 1895..............................................

16,510 17
$71,460 17

$71,46017

In furtherance of the plan of reorganization of the Com­
pany 1,728 shares of the common stock of the Pittsburg
*1.191,161 34 Cincinnati & St. Louis Railway Company, having a par
value of $86,400, were retired and canceled during the year.
*11,322 00
32,343 90

43,665 91)

Total net revenue for 1995..
...................................*4,234,827 33
Total net revenue for 1894.............. .............................. 3,498,359 01
Increase.......................................................................

*736.468 09

From the above net revenue for 1895............... .
*4,234,8-7 33
Deduct payments as follows:—
Interest on oonsoL mort. 44 p e. bonds. *1,170,675 00
Interest on consol, mort. 4 p. c. bonds
40.000
00
Int. on bond* of Pitts. Ctn. A 8t. L. Ry. Co. 630,410 OH
Int. on bonds of Cb. 8t- 1- A Pitts. HR. Co. 366,1*0 00
Int. on bonds of Cln. Rich. A Cb. HR. Co..
19,320 00
Int. on bonds of Jeff. Mad. A Ind. RK. Co.. 295.57 5 00
Paym’t* under Car Tr. cont’s, incl. tot., Ac..
36,40009
Rent of Bteubenrille extension..................
68,573 04
Rent of Lake Erie A Western Railroad be­
tween Indianapolis and Koknono. Ind...
24,066 72
Rent of Utile Miami Railroad between
Rendrorah Junct. and Cincinnati, Ohio. .
22,200 00
Rent of Cln. Ham. A Dayton RR. between
Hamilton and New Riv. Junction. Ohio.
4,996 20

Stock of the Pittsburg Cincinnati Chicago
A St. Louis Railway Company outstand­
ing December 31st, 1895:
245.330 shares common stock at $100
each.....................................................$24,333,000 00
Common stock scrip......................
2,127 18

$24,335,127 18
226,336 shares preferred stock at $100
cadi ....................................................$22,635,600 00
Preferred stock scrip....................
3,179 75
22,638,779 75

$40,973,906 93
xtock of constituent companies outstand­
ing December 31,1895:—
950 share# common stock Plttsbnrg
Cincinnati A St. Lonls Railway Com­
pany ut $50 each.............................. $47,800 00
1 , 7 3 2 .hare. <ommon slock Steuben­
ville* Indiana Railroad Company at
$50 each............................................
86,624 66
59 shares preferred slock Steubenville
& Indiana Ruilniad Company at
$50 each............................................
2,950 00
------------------- 2.078,420 65
oo shares common stock Chicago
Net profit for1895......
*1,550.400 fin 5,421"
St.
Louis
*
Pittsburg
Railroad
Com­
Net profit for1894...............................................................
932,30349
pany at $100 each............................
542,167 00
397»«"V shares preferred stock Chicago
Increase .
*024,097 19
St. Louis * Pittsburg Railroad Com­
pany at $100 each............................
39.752 62
To the above f-roflt to r 1895......................
54 shares common stock Jeffersonville
Add net revenue of other lines
Madison
A
Indianapolis
Railroad
by your company, or la Its Interest,
Company at $100 each.....................
5,400 00
the details o f which are stated here­
724,094 28
after, vix.:
Ohio Connecting Railway......................... *91,903 81
Ohirtlerw Railway..
51,484 21
Total stock outstanding December 31, 1895...... .
$47,698,601 21
18.839 53
00,149 41
BONDS.
113,173 80
There were $42,000 Pittsburg Cincinnati & St. Louis Rail­
Little Miami Railroad
447,481 54
7
way Company first consolidated mortgage seven per cent
*2,339.433 04 coupon bonds exchanged for a like amount of registered
From w hich deduct payments a s follows :•
bonds of the same issue.
Rent of Ohio Connect me Railway.............
*91,903 81
There were $188,000 first mortgage seven per cent bonds of
Rent of Chart ier* Railway......................
51,484 21
18,839 53
Net revenue of Waynesburg A Wash. RR..
Jeffersonville Madison & Indianapolis Railroad Company re­
Net revenue of Pitts. Chart. A Yougb. R y ..
00.149 41
deemed
through the operation of the sinking fund for the
Rent of P4t*. Wheeling A Kentucky R R ..
113,173 HO
retirement of the bonds issued under that mortgage.
Rent of Little Miami RK.
675,025 50
Interest on Cln. 94. Connection Ry. bonds.
31,500 00
There were redeemed in cash $116,000 Chicago & Great
Loss in operation of Englew. Connect. Ry.
5,49 4 07
Eastern Railway Company first mortgage bonds (last), ma­
Five-sevenths loss In operation of St. Dials
tured April 1st. 1895; also $517,000 Cincinnati Richmond &
Vandalia 4c Terre lisente RR....... ...........
222,0s l 57
Cash advanced Cln. Richrn. A Fort Wayne
Chicago Railroad Company first mortgage bonds, matured
RR. Co. to pay interest on bonds.. . . . . . . .
1,879 mi
July 1st. 1895; also $05,000 Cincinnati Richmond <& Chi­
Discount In exchange consolidated bonds
45.000 00
1,316,535 59 cago Railroad Company second mortgage bonds, matured
Surplus on all Hu m operated for 1995,
Surplus on »U linen operated for 1994
Increase a, compared with 1894...

January 1st, 1889, aggregating $728,000.

, 61,022,907 46
There were $8,000,000 Pittsburg Cincinnati Chicago
693,491 72 & St, Louis Railway Company consolidated mortgage
63.n7.403 74 four |x t cent bonds issued during the year, of which

8nr, of Income on all tine, for the year '95.$1,022,807 If,
11dunce to credit profit an.1 tom account,
Deo. 31. 1 4 M .„ ......................................
428,537 62

$1,451,435 08

$4,818,000 were in exchange for four and one-half per cent
bonds retired and canceled, and the remainder for retire­
ment of sectional lien bonds and on account of expenditures
« made on capital account since October 1st, 1890.

728

[V ol , LX1I.

THE CHRONICLE.

B o n d s outstanding December 31st, 1S95:
Cincinnati Richmond it Chicago Railroad Com pany first
m ortgage seven p e rce n t bonus, due 1 8 9 5 ...................
Pittsburg Cincinnati <5c St, Louis Railw ay Company lirst
consolidated m ortgage seven per cent coupon bonds, due
Pittsburg Cincinnati <fc St. Louis Railway Company first
consolidated m ortgage seven per cent registered bonds,
Colum Lis & IndVanapoiisCentral Railw ay Company rirst
m ortgage seven per cent bonds, due 1904.........................
Columbus <fc Indianapolis Central Railway C om pany sec­
ond m ortgage sovon per cout bonds, duo 1904..................
Union & L ogansport Railroad Company first m ortgage
seven tier cent, bonds, due 1905............. — - - ............ .
Jeffersonville Madison & Indianapolis Railroad
Company flrst m ortgage seven per cent bonds,
due 1906................. - .............................................. $2,943,000
Less 817 bonds in sinking fu n d ...................... ......817,000

account of Car Trust equipment
$76,662 02.
$5,000
2.189.000
4.674.000
2.631.000
780.000
715.000

the aggregate being

OHIO CONNECTING R A ILW A Y ,

This road, which is 3 37-100 miles long, including the
bridge over the Ohio River, connects your system with the
Northwestern System of Lines operated by the Pennsylvania Company.
E arnings .
1894.
1895.
Tolls on freights. ..$120,088 00 $130,517 00
60 15
Tolls on passengers
39 34
240 00
............
Rent o f real estate.

Increase.

Decrease.
$10,429 00
20 81
240 00

$10,689 81
Totals!............... $120,127 34 $130,817 15
E xpenses .
Increase. Decrease.
1895.
1894.
Maint.o 1'w ay & 8tm ct’res.$ 1.8,847 99
§4 $11,470 05 . . . . . . . .
$74 88
Conduct’ g transportat’ n.
5,775 76
J>»85064
69 30
General expenses..............
105 10
3o 80
313 95
Taxes...................................
3,494 68
3,803 63

2,126,000
Jeffersonville M adison A Indianapolis Railroad Company
1.995.000
second m ortgage seven per cent bonds, due 1910............
Steubenville ,1 Indiana Railroad Company lirst m ortgage
3,000,000
T otals........................... $28,223 53 $17.073 01 $11,150 52 .............
(extended) live p er cent registered bonds, due 1914— ..
Chicago St. Louis & Pittsburg R ailroad Company console
N et E arnings .
1.293.000
related m ortgage Hv c per cent coupon bonds, due 1 9 3 2 ...
1895
1894.
Decrease.
Chicago St. Louis & Pittsburg Railroad Company consoli­
$91,903
81
$113,744 14
$21,840 33
213,000
dated m ortgage live per cent registered bonds, due 1932
Pittsburg Cincinnati Chicago .V St. Louis Railw ay Com­
1 The decrease in net earnings was due to a reduction in
pany consolidated m ortgage four aud one-half per cent
0 0 0 the charge per car on traffic crossing the bridge.
bonds, series “ A ,” due 1940................................ - ................. 1 0 .0 0 0 .
I
CHARTIERS R A IL W A Y .
Pittsburg Cincinnati Chicago & St. Louts Railway Compativ consolidated m ortgage four and one-lialf per cent
Main L ine
............................................... ............ *.......... — 22*76 miles
10.000.
000 Chartiers C onnecting R ailroad ..............................................
'72 “
bonds, series " B ,” due 1942...............
. . . . . . . ....... .—
Pittsburg Cincinnati Chicago & St. Louis Railway Com­
pany consolidated m ortgage four and one-halt per cent
T otal.............................................................................................23*48 m iles
bouds, series •C,” due 1942...................- - - - - ......................... 2 , 000,000
E a r n in g s .
Pittsburg Cincinnati Chicago A St. Louis Railway Com­
Increase.
1894.
Decrease.
1895.
pany consolidated m ortgage fou r per cent bouds, series
$107,650 03 $26,987 00
*'D.” due 1945............................................ - ............................ - 6,000.000 Ere
116,050 16
753 56
116,803 72
Total bonds outstanding Decem ber 31st, 1895..............$47.621,00C> E xpress.................
3,264 78
1,035 06
4,299 84
2,514 84
2,514 84
M ails......................
2,973
60
2,973 60
The tonnage transported was 11,648,499 tons, against 10,- R ent of railw ay..
380 00
310 00
690 00
381,338 tons in 1894, an increase of 1,267,161 tons, the greater Other rentals.......
1,177 82
$212 37
965 45
Miscellaneous.......

portion thereof being in the through traffic. The iargest
items of increase were in general merchandise, live stock,
$262,884 48 $233,941 23 $28,943 25
T otals..
anthracite and bituminous coal, coke, ores, stone, sand,
$9,963 43
$1,232 67
$11,196 10
Earn,
per
m.
road.
lumber, pig and bloom iron and other manufactures of
E xpenses .
metal, cement and brick, agricultural implements, fruits,
Increase.
Decrease.
1894.
1895.
vegetables and live stock, while the largest items of decrease Maint’n’c e o fw a y
$28,612 63 $31,320 58
$59,933 21
and structures.
were grain, flour, cotton, dressed meats and sugar.
20,146 07
3,681 49
23,827 56
There was an increase in freight earnings of about 9 ^ per Maint. of equip’ t. 105,296
89,442 71
43
15,853 72
tra n s..
cent, or §904,226 69. The average rate received was 6 5-10 Conduct’g
1,359 90
493 41
1,853 31
General expenses
1,584 27
$93 07
mills, the same as in 1894, but there was a decrease in the T axes.....................
1,677 34
cost of movement of 4-10 mill, the net profit being increased
$192,494 78 $141 238 65 $51,256 13
Totals.............
to 1 6-10 mills per ton per mile. There was an increase of Ratio o f expenses
10 1-5 per cent in the ton mileage, mostly in through traffic.
73 22 per ct. 60-37 per ct. 12-85 p 'r o t.
There were carried 5,881,636 passengers, as compared
$70,389 70
92,702 58 ................... $22,312 88
with 5.627,934 in 1894, an increase of 253,702, the greater Hire o f equipm ’t.
18,107 18
$798 31 ...................
18,905 49
portion of which was in the local travel. There was an in­
Net earnings.
$51,484 21
$74,595 40 ................... $2 3,11 119
crease in mileage of a little over 8L
4 per cent and in
revenue of 4J£ per cent, or $142,012.01.
There was a decrease in net earnings of $23,111 19, due to
There were 9,118 tons of new steel rails and 399,108 cross the enlargement of Bell’s Tunnel for double track, which
ties used in renewals during the year, and 601 tons of new was completed during the year. The tonnage for the year
and partly-worn steel and 19,593 cross ties used in construc­ was 1,539,123 tons, as compared with 1,237,345 tons for 1894,
tion of second, third and fourth tracks, new sidings and an increase of 301,778 tons. The average rate received per
branches. The net increase in length of tracks, including ton per mile was the same as in 1894, but the cost increased
Company sidings, was 13 17-100 miles.
1 3-10 mills, the net profit being reduced to 2 2-10 mills.
The work of replacing iron bridges by stone was con­ There was a large increase in the volume of bituminous
tinued, bridges 51, about one mile west of Fernwood, and coal, but only a slight increase in the other items of ton­
67, one-half mile west of Unionport, on the Pittsburg nage. The number of passengers carried was 419,755,
Division, being also widened for double track, and consider­ against 400,602 in the previous year, an increase of 19,153,
able work was done in the way of filling trestles and in the or about 4% per cent. The increase in the passenger mileage
general improvement of the property. The most important was over 7% per cent, the gross revenue therefrom being
piece of work commenced during the year was the enlarge­ about the same.
ment for double track o f tunnels 7 and 8, on the Pittsburg
There were 404 tons of new steel rails and 10,350 cross ties
Division. This work will be completed during the present used in renewals.
year, and is the last of that character required in the construc­
W AYNESBURG A WASHINGTON R A IL R O A D .
tion of your double-track system on the Pittsburg Division.
The material excavated from the tunnels was largely used Main Line..........................................................................................28-15 miles
E a r n in g s
in filling a trestle at Penrith, on the New Cumberland
1895.
Decrease.
Increase.
1894.
Branch, originally 2,126 feet long, with an average depth of Freights.............................$31,928
04$18,964 82
22
24 feet, and which has now been entirely replaced by an em­ Passengers....................... 30,449 72 20,934 36 $12,963
3,515 36
bankment, with the exception of a roadway of 56 feet, left E xpress............................. 1,642 04 1,164 25
477 79
ails.................................
2,455 88 2,455 88
for drainage and access to the river. The bridge at Collier, M
Rent o f property............
1200
9
00
..........
3 do
carrying the county road over the yard tracks at that point, M iscellaneous..................
11 70
4 05
7 65
was finished in the early part of the year, and bridges on
T otals....................$66,499 38 $49,535 96 $16,963 42
the Bridgeville and McDonald and New Cumberland
Branches were rebuilt.
Earn’gs per m ileroad. $2,362 32 $1,759 ’
$602 61
Seventeen engines were condemned, 3 sold and 2 trans­
E xpenses.
ferred, and these were replaced by 20 engines, of which 13
1895.
1894.
Increase.
Decrease.
were standard power. The condition of the passenger and Conduo’u g tran sp 'r’t .$ ll,3 8 6 18 $9,874
16
$1,512 02
freight equipment is about the same as in the previous year ; M otive p ow er............ 15,350 03
9,088 70
6,261 33
o f w ay. 16,053 78
14,113 94
1,939 84
373 freight and 19 cabin cars were rebuilt to replace vacant Maintenance
Maintenance o f cars. 3,393 01
1,697 93
1,695 08
numbers.
General expenses___ 1,476 85
1,449 71
27 14
Improvements were made to station houses at various
T otals....................$47,659 85 $36,224 44 $11,435 41 ...................
points, the most important being the erection of a new brick
passenger station at Madison, Ind. A new freight station is R atio o f exp. to earns. 71-67 p. c. 7 3 1 3 p. c. ................... 1-46 per ct.
also under construction at Columbus, Ohio, in connection
with which it will he necessary to re-arrange about 4% miles Net earnings..............$18,839 53 $1 3,31 152 $5,528 01 ...................
of yard tracks at that point. A new passenger and freight
There was a material increase in both the gross earnings
station was completed at Piqua and a new brick passenger and the expenses, but an increase in the net of $5,528 01.
station at Marion, the cost of the latter and one-half the The volume of freight traffic increased nearly 80 per cent
oost of the former being charged to capital account. The the largest items thereof being castings and machinery,
expenditures on that account, however, were quite small while the mileage increased over 86 per cent. There was a
§ during the year, and embraced in addition to the stations decrease in the rate received per ton per mile, but a larger
referred to a portion of the cost of re-building bridges 51 and decrease in the cost of movement, the net profit increasing
67 for second track, already referred to, additional tracks 3 5-10 mills. The number of passengers carried increased
and sidings at various points, small purchases of right of about 12 per cent, but there was a decrease in the net profit
way and real estate for yard purposes, and payments on o f 3-10 mill per passenger per mile.

lH E

A pril 18, 1898.]
p e t t s b u rc; c h a r t i e b s

&

y o u g h io g h e n y r a il w a y .

Extends from the Ohio River at a point below Brunot’s
Island, and from a connection with the Pittsburg & Lake
Erie Railroad near that point, to a connection with the
Chattier* Railway south of Carnegie, Pa., and from Woodville.on the Chartiers Railway, to Beadling and Beechinont,
having an aggregate length o f 15 74-100 miles. It has track­
age rights over 1 40-100 miles of the Chartiers Railway.
The road is jointly ow n el by the Pittsburg Cincinnati
Chicago & St. Loots Railway and the Pittsburg & Lake
Erie Railroad Companies.
E arning *.

1894.
$s.331 27
X16.604 78
11,501 52
780 68
292 03
572 00
133 75

1995.
$9.913 81
138,702 04
8.976 24
1,179 55
292 40
1,812 30
1,913 97

Merrlxandise.............
Passenger*................
Mails........................ .
Rent of property__
Miscellaneous__ ...
TVtfr.-tl*

Increase.
$1,582 54
22,157 26

#8,063 98
$9,501 IS
Expense *.
1895.
1894.
$20.70# 66 $18,933 12
8.159 27
23,401 54
39.942 84
10.735 80
4,810 54
5.013 66
4,600 60
3,357 07

Main, of w ay* strut.
Main, of equipment.
Conduct’* watH'u...
General expenses. -.
Taxes........ ...............

The number of passengers carried was very nearly the same.
The average earnings per passenger per mile increased 1 mill,
but the cost increased 1 9-10 mills, the net profit being 5 6-10
mills, as compared with 6 5-10 mills in 1894.
There were 101 tons of new steel and 18,417 cross ties used
in renewals. The new passenger station at Wheeling was
completed December 17. 1.895, and furnishes a much-needed
improvement at that point. The work o f filling trestles on
this line was further continued, that at Caldwell's Run hav­
ing been completed, and also the entire structure at Riverside
Decrease. Iron Works, Wheeling, with the exception of about 100 feet

$1,437 20
Increase.
$7,835 54
14,942 27
203 12
1,243 53

1894.
Inereaie.
Decreme.
1895.
Freights............. $1,061,885 80
$992,280 82 $69,605 04
........
Pn.-sengers ......
593,331 39
570,749 51 22,581 88
........
Express.............
00,727 25
05,984 67
$5,257 42
108,924 58
104 02
108,820 56
Decrease. Malls.................
Rent of railway
34,994 12
34.994 13
........
01
Rent of other
36,929
37
12,158
29
p
roperty........
24,771
28
#792 90 Miscellaneous...
22,07233
21.14174
1,230 59
........
T ota ls............. $1,907,202 79

Earnings per
mile of road..

#70,295 80 #23,431 00

Total*................ #99.727 30

8-0* p. c ....................

Ratio of exp. to earns. 61-24 p. e, 5 5 2 0 p C,
Ner Earning-.
1895.
1894.
$63.123 01
$01,920 81*
ess rent Chartiers
Ry. between Car
town- anti Bower
2,073 00
2,97 160
HIM........................

In crea se.

$1,202 12

D reream .

Net revenue............. $60,149 41

$ 1,202 12

..............

$58,947 20

.............

The tonnage transported was 8 7 .1,308 tons, as compared
with 721,128 tons in 1894. an increase o f 152,183 tons, or
over 21 per cent, almost entirety in bituminous coal. There
was an increase o f 14 85-100 per cent in the ton mileage,
and 19 per cent in the revenue. There was an increase of
7-10 mill in average earnings per ton per mile, and an in­
crease of 2 8-19 niubt in the cent o f movement, the net result
being a decrease of 1 »-10 mil is in the net profit. The loss
in the passenger traffic was reduced to 5 8-10 mills per pas­
senger per mile.
PIT1SBITB0 WHEELING A KENTUCKY RAILROAD.
Main Line......................... ........................................... ............. 24-00miles,
Renwoml Extension.................................................. . . . . — 4-04 ”
Total ......................................................... .......................28-04 mil.--*.
Eutvtx.,*.
1495.
I“9 4
Imsretsm. Decrease.
ftelgblM.. . . . . . .
■ .$208,979 33 $129,275 05 $70,601 2* ..............
Pane* infer* .........
60.042 63
67,306 83
3.335 60
.........
Express .
...
5,04582
3.6.37 41
1,80- 11

Mail-...................

3.031 32

Rente*railway
...
Ren tofot tier prop’ rty
M1M el!. -uleans .......

7,921 *5
525 95
612 30

.1.031 32

0.44-31

1,055 94
68112

Total*..................8287.350 20 $20! ,735 9$
Earn*, p. m. of road. $10,248 19
$7,194 58

...............................

1,473 54 ..................
...............
$529 99
...........
0 *8 2
#85,023 22
$3,053 61

E x rt Ni-KS

Mala, of way & strop.
MatntenYu of f-tutp,.
Conducting tranup tn
General expense*___
T a w *..........................

1895.
$*S-^S4 JR
20,679 27
01.917 22
2,193 38
7,591 09

Increase. Decrease.
1804.
#32,080 88 •1:8,287 60
15,997 32
4,681 95
72,23028
9,080 94
1,452 07
740 71
#130 17
8,027 86

Totals...... ......... .$157,705 74 *129,74* 71 $27,001 iKi _.,..*****
Ratio expeti. to e*me..VI #8pr. >-t. wi*m pr, e t
9’44 p, o.
Hire of ecptiprn’ t , «be.

#129,653 ,J6
10.479 00

Net m m ktgn.. . . . $ n ;,173 m

o f 61^2 Pel' ce n t, a n d th e n e t p rofit p er to n p er m ile an in
crease o v e r th e p r e c e d in g y e a r o f 1 6-10 m ills.

LITTLE MIAMI RAILROAD.
$2,525 28 Main Line................................................................................. 119-35 miles.
Dayton
&
Western
B
ran di.................................................... 53-34 “
398 87
Xenta A Spriugfleld Branch................................................. 19-31 “
37
1.239 64
T o ta l....................... ..............................................................192-00
1,780 22

I. #138,2X6 69 $24,633 62

Earns, per m, road...

729

C H R O N LC LE

$7 1 ,m i 27 #57.008 19 ...............
13,860 0t
2.613 58 ...............
$58,125 20 8 ">5,04 8 00 ..............

,831,805 02 $75,897 77

$9,588 05
$9.933 35
Ex CUSSES.

1895.

Maint. of way
and sfnit-i . $252,573 9*
Maint.o f« i alp 284,987 63
Cnmltu tnuis. 882.258 31
38,030 13
General e x p ..
T axes....... . . .
05,700 69

1894.

$167,550 08
236,233 75
873,808 79
48,530 57
97,703 01

Total*...... #1.523,640 74 $1,113,880 20

395 30
Increase.

Decrease,

$85,023 90 ...................
48,753 88 ...................
8,3t>9 32 ...................
................... $10,494 44
...................
21,912 32

#109,700 54

Ratio o f exp.
tn ' iruiag.-. 79-89 p e r c t .
77-21 p er et.
2-08 p e re t..................... ..
The net earning* for 1895 w ere.................................. .........$ 3 8 3 ,5 5 8 05
Interest on Investments, etc....................................................... 03,925 49

Total net revenue for 1895..................................................$447,48 1 54
Against which were charged One year’s rent o f road................................. — $602,620 30
One year's interest oil bonds of Cincinnati
Street Connection Railway...........................
31,500 00
Interest on mortgages and ground routs........
12,399 00
------------ 706,525 30
Net toss for 1895........................................................................ $259,044 02
Net loss tor 1*9 4 ................................................................
221,92691
Increased loss .......................................................... a ............. $37,117 11

The earning* increased §75,897 77. but the expense.*
having increased §109.769 54. the net earnings show a loss of
$88,77.
The tonnage carried was 1,517,006 tons, as compared with
1,381,271 tons in 1804, an increase o f 186,335 tons, or about
9 9-19 per cent. There was an increase in the items of
anthracite and bituminous coal, coke, stone, sand, lumber,
pig and bloom iron, bar and sheet metal, and miscellaneous
merchandise, and a decrease in the items of grain. Hour,
tobacco, cotton, sugar, cement and brick, and wines, liquors
and beers. The average rate received per ton per mile was
3-10 mill less than in 1891. bus the t-osf decreased 8-10 mill,
the net result being a profit o f 1 8-10 mills, as compared with
1 3-10 mills in 1804,
The number of passengers carried in 1895 was about the
same as in 1804. There was a slight decrease in the average
earnings, but a large increase in the cost per passenger per
mile, the result being a loss o f 2 9*10 mills, as compared
with 2-10 mill in 1894.
The only charge to capital account was §1,628 80 for pur
chase of right o f way at Dayton and other points.
There were 1,235 tons o f new Steel rails and 80,036 cross
tiw used in renewals. There was a net increase in length
Of tracks of 1 43-100 miles. The motive power and equip­
ment were maintained in the same condition as in the
previous year.

The eras-, earnings of the road increased gST»,62d 22. or
nearly- 4 9 per cent; the expenses MStMl 03. about 2V.Z per
THE ENGLEWOOD CONNECTING RAILWAY
cent; and the net earnings $A7,*H.h»«o, or 94 7-10 per cent.
the aggregate tonnage was 923,539 tons, as compared with Ih 2 85-100 miles long, and connects your line with the
518,1506 tons iu 1891, an increase o f 408.933 tons, or 78 s4 per Pittsburg Fort Wayne & Chicago Railway via 59tli Street,
cent. The increase was in nearly all articles transported, Chicago.
b u t was most marked in the items of fruits, vegetables, bitu­
1895,
1894.
Increase.
$4,313 75
$5,0*0 25
minous coal, coke, ores, lumber, pig and bloom iron, cast­ Earnings, freight tolls, « te ......... #10,23 4 00
7,120 00
8,02177
ings and machinery, bar and sheet metal, and merchandise, s Expense*...... ................................. 13,749 07
The- gro--* revenue from the freight traffic show* an increase
Lose
$5,494 67
$2,913 15
$2,081 52
Statement of average earnings, cost and profit per ton and passenger per mile, for the year ending December 81st, 1895
compared with the year ISM r
ROADS O PERATED DIRECTLY BY. TH E PITTSBURG CINCINNATI CHICAGO & ST. LOtUS R A IL W A Y COMPANY.

Earnings and Cost p er ton and pan en ger per mite f o r the years JSSS and JS04.

tm g tfo 01 mmlt mile*EmmingB per ton, cents..**.............
O w l per ton,, cents___ ____ . . . . . . . .
Profit per ton. c e n t s .... .. . . . . . . . .. . . .
Sat Bings per passenger, cents.........
Cost per passenger, cents................ .
Profit per passenger, cent*........... ..

__

C h ic . <f St.
Louis Ha, and
bnm tha.
1.150-99
4894.
is m .
0*05
O-05
0*49
0*53
0-16
0-12
2-10
2-02
1-89
1-89

0'13

0*21

Chartiers- n
Rtiihray.
23*48
1895.
1894.
1-59
1*59
1-37
1-24
0*22
0-35
2*20
2-30
1-57
1-28

»—Pittsburg—
Wheeling it
Kcntm ky ilH,
28*04
1895.
1894.
I 'l l
M0
060
0-78
0-54
0-38
2-65
2-55
2-09
1-90

0-63

0-56

1-08

0-65

----- LitUr------.
Miami
Railroad.
192
1895.
1894.
0*88
0-91
0-70
0-78
0*18
0-13
1 *90
1*93
1-95
2-19
0*02

.----- A rriw r. - 1.394-51
1805.
1894.
0-07
0 08
0-51
0*55
016
0T3
2*01
2-09
1-93
1-80
0-08

0*20

THE CHRONICLE.

730

ROADS OPERATED THROUGH OTHER ORGANIZATIONS THAN
THE PITTSBURG CINCINNATI CHICAGO & ST. LOUIS RY. CO.

Earnings and Cost per ton and jMS&engtr p er mile fo r the
years 1S95 and 1894.
Length o f road, m iles___
Earnings per ton, cen ts..
Cost per ton, cents............
l’ ro til per tOU* cent s ....... .
Earn’gs p er paas’ger, cts.
Cost per passenger, cts...
Protit per pass’ger, c t s ...

Waynesb. «£—
Fitts. Char
d'■1 ouyh'y Ry.
Wa$h. Jilt.
2815
17 ■34
1895. 1894. 1895. 1894.
6*80
1*78
6*97
1*71
4*55
100
0-83
5-57
1-40
0*72
0-88
1*75
3
1
2
2*53
2*99
2*62
2-77
315
2*87
3*53
0*22
0*25 •0-53 ‘ 1 0 0

r—A verar/c.s
45 29
1895. 1891.
1*90
2*03
100
1*26
0*90
0-77
2-90
2-89
312
2-87
002
*0*22

* Loss.
A L L ROADS OPERATED, D IR E C TL Y OR IN D IR E C TLY.

Average Earnings, Cost and Profit per ton and per passenger
per mile for the years 1895 and 189J.
1895.
Earnings jjer ton, cen ts................................................. 0 68
Cost per ton, cents.......................................................... 0'51
Protit p er ton, cents........................................................ 0-17
Earnings per passenger, cents......................................2 02
Cost per passenger, cents..............................................1-94
Profit per passenger, cen ts.......................................... 0 08

1894.
0-GS
0- 55
013
2 09
1- 90
019

GENERAL REM ARKS.

The returns of your system for the past year show an en­
couraging improvement as compared with 1894. From a
reference to the statement attached to the report, it will be
seen that there was an increase of 2,112,207 tons, or 15 6-10
per cent in the freight carried over the lines operated di­
rectly by your Company, while there was also a very heavyincrease in thevtrattic of the Pittsburg Chartiers & Youghiogheny, and a marked percentage of increase in that moved
over the Waynesburg & Washington Road. The aggregate
tonnage moved upon all lines was 16,522,823, an increase of
2,273,586 tons, or about 16 per cent, the increase in ton mile­
age being 10-73 per cent.
With the increased revenue there was also an increase of
expenses in the various departments, but there was a gain
in net results for the year of $387,40574, after meeting all
charges and obligations connected with your system, The
average rate received upon your main line was the same as
during the previous year, being 6'5 mills per ton per mile,
but as already noted* there was a decrease in the cost of
movement, resulting in a profit of 1-6 milks, as compared
with 1-2 mills for the previous year. The average rate re­
ceived per ton per mile on all your lines was also precisely
the same as for 1894, being 6-8 mills, but a like reduction in
the cost of movement gave an average profit of 17 mills, as
against 1-8 mills for 1894.
The number of passengers carried upon your entire sys­
tem was 7,731,049, an increase over the previous year of 271,781 passengers, or 3-64 per cent, with an increase in the
mileage of 7-84 per cent. The average earnings per passen­
ger per mile on the entire system were 0-02 cents, being a
decrease of -07 cent, while the cost of movement increased
■04 cent, the average profit per passenger per mile being
thus reduced to 8-10 of a mill, as compared with 1-9 mills in
the preceding year.
There was a very small expenditure on capital account
during the past year. The track, motive power and equip­
ment were kept in excellent condition, and there was a gen­
eral improvement in the load per car and per train.
The changes in the funded debt during the year are fully
stated in the earlier part o f the report, from which it will
be seen that §916,000 of prior lien sectional bonds were paid.
The material change, however, was in the consolidated
mortgage bonds, of which §4.818,000, bearing 4}A per cent
interest, were retired and canceled by agreement with the
holders and a like number of four per cent bonds issued in
lieu thereof. The latter constituted a portion of an issue of
§6,000,000 of Series D, the remainder thereof, §1,182.000,
having been issued for the retirement of the sectional bonds
before referred to and to provide the necessary fimds for
expenditure on capital account. Your consolidated mort­
gage bonds now outstanding, therefore, consist of §10,000 000 Series A, §10,000.000 Series B, §2,000,000 Series C, all
bearing
per cent interest per annum, and §6,000,000
Series D. bearing 4 per cent interest.
Since the close of the year a dividend of 2 per cent has
been declared on the preferred stock, payable January 27tli,

[V ol.

l x il

cised without the consent of the State and in excess of the
terms of the grant. The tracks upon Eggleston Avenue
were laid for the purpose of reaching manufactories and
other industries situated thereon, and large sums o f money
have been expended by your Company in their construction
and in the purchase of real estate for a yard at the northern
end thereof.
Subsequently to the decision of the Supreme Court, an
agreement was reached between the Canal Commission of
Ohio, the representatives of the State, and your Company,
under which the property in dispute extending from the
Ohio River to Broadway was leased to your Company by the
State for 6 per cent per annum on a valuation of $157,000,
I for a term o f 15 years; §100,000 thereof being the value
placed upon the portion of the property between Pearl
Street and Broadway, and the remaining §57,000 on that
portion between Pearl Street and the Ohio River. The
Canal Commission in making the agreement recommended
also that the Legislature of Ohio should authorize the sale
of this property to the Company at the price named in the
lease, and this question is now before the Legislature.
The operation of the Employes’ Voluntary Relief Depart­
ment continues to be satisfactory, there having been during
the year 3,676 accessions to membership, an average of
about 306 per month, and 3,571 in excess of the number of
deaths and withdrawals. The number o f members leaving
the service was 1,620, and the total membership at the close
of the year was 8,680, a net gain of 1,951, or 28"99 per cent.
The amount contributed by the members was §152,132 92 ;
the receipts from interest were §1,474 04, and the amount
contributed by the Pittsburg Cincinnati Chicago & St.
Louis Railway Company was §30,277 89, which, added to the
balance on hand at the beginning of the year, viz., §24,177 34,
makes a total o f §208,062 19. Out of this amount there was
paid to families of employees in death benefits and for sick­
ness and accidents §138,290 90, and for operating expenses
§27,286 49, leaving a balance of §42,484 80, from which should
be deducted $29,422 77 to cover the amount of outstanding
and unadjusted claims, leaving a surplus of S13,062 03. '1he
amount contributed to the Department by the Pittsburg
Cincinnati Chicago & St. Louis Railway Company, as stated
above, was §30,277 89, of which §27,286 49 was used for the
payment of operating expenses of the department, and
§2,991 40 for payment of extra benefit to members whose dis­
abilities had continued over fifty-two weeks, and who were
therefore no longer entitled to regular benefits from the
department.
During the year there were 6,416 benefits paid, viz., 6,336
on account of sickness and accident, and 80 death benefits.
In common with the other leading lines east of the Mis­
sissippi River, your Company became a member January 1st,
1896, of the Joint Traffic Association, formed for the pur­
pose of enforcing substantial economies in the administra­
tion of the transportation interests of the country and
securing stable and uniform rates to the public. Although,
at therinstance o f the Inter-State Commerce Commission, the
question of the legality of this organization is now before
the courts, it is believed that its formation is entirely within
the law and that it will be a most valuable instrumentality
in aiding the Commission to enforce the provisions of the
Inter-State Commerce Act. Mr. David S. Gray, long inti­
mately connected with your system, has been appointed as
your representative on the Board of Managers of the Asso­
ciation.
The Board with great regret have to announce the sudden
death, on June 21st, 1895, of Mr. Henry H. Houston, one of
their most valued associates, who had been prominently
connected with the system of which your lines form a part
during the whole o f his active life, anil had been especially
helpful in connection with the important questions growing
out o f the development of the transportation interests of the
country. Mr. Houston s great ability and devotion to the
interests committed to his care make his loss one to be
specially regretted not only by those who had shared with
him the management o f your properties, but also bv those
whose interests he had always so faithfully guarded.
In accordance with the revised organization, taking effect
January loth, 1896, Mr. Joseph Wood having been promoted
to be I ourth Y ice-President, Mr. L. F. Loree was appointed
General Manager, to fill the vacancy thus created ; Mr. M. J.
Becker was appointed Consulting Engineer and Real Estate
Agent, and Mr. Thomas H. Johnson, Chief Engineer Mr.
J. J. Turner having been elected Vice-President and Gen­
eral Manager of the Vandalia Line, Mr. G. L. Peck was
transferred from the Richmond Division to be Superinten­
dent of the Pittsburg Division, and Mr. J. S. May appointed
to fill the vacancy caused by the transfer of Mr. Peck. Mr.
L. L. Gilbert was also appointed Assistant Counsel.
1 he income, profit and loss, and general accounts, together
with the usual traffic statements, are hereto appended
It is with great pleasure that the Board acknowledge the
fidelity and efficiency of the officers and employees during
the past year.
By order of the Board,

The controversy which has existed for some years past in
reference to the occupation of Eggleston Avenue, Cincin­
nati, by the tracks of the Little Miami Railroad Company
reached a final decision in the Supreme Court of Ohio on
June 4th, 1895. It was then decided that the grant from
the State of Ohio, under which the city had the use o f that
part of the old Miami and Lake Erie Canal extending from
the east side of Broadway to the Ohio River, and a portion
of which now constitutes the bed of Eggleston Avenue, was
expressly confined bv its terms to sewer and highway pur­
poses: and that the franchise which the city had granted to
G. B. ROBERTS,
tie Little Miami Railroad Company, under "which its tracks
President.
are now laid upon the avenue between Pearl Street and
Broadway, and under which the Newport & Cincinnati
Bridge Company and the Little Miami Railroad Company
[A comparative statement o f operations, earnings, etc , and
occupy that portion east of Pearl Street, was being exer the general balance sheet, will be found on page 724.]

THE

A CEIL 18, 1898.]

THE

731

C H K O iN IU L E .

ATCHISON TOPEKA & S A N T A
RAILWAY C O MPANY.

FE

ABSTRACT OF GENERAL -MORTGAGE DEED,
DATED DEC. 12. 1895.
SECURING .$17,<W0,900 OF PRIOR LIEN BONDS AND
§163,490,500 OF GENERAL MORTGAGE BONDS.

of tins bond by delivery cannot be restored; and thereafter tlie sa me
shall be transferable only on said books, and the interest thereon
semi annually, and the principal thereof when due shall be payable
only to the registered holder or his legal representative.
This bond shall not- be valid for any purpose, unless authenticated
by the oercitleate, hereon endorsed, of the Trustee under said mort­
gage or deed of trust.
In witness whereof, said Railway Company has caused these
resents to be signed by its Comptroller or a Deputy Comptroller, and
a corporate se «i to be hereunto affixed and attested by Its Secretary
or an Assistant Secretary, and coupons with the engraved signature
of Its Treasurer to be attached hereto this IS thdnyof Deo., A. D. 1895.

S

T he A tchison T o p e k a & Santa P e R a il w a y Co m p a n y ,
By

PARTIES.

T h e A tchison - T opek a & S a n t a F e R a i l w a y C o m p a n y o f

Kansas, hereinafter called the “ Railway Company,” party
o f the first part, and The Union Trust Company o f New
York, called the -Trustee,” party o f the second part.

Comptroller.

Attest.:

Secretary.

TWO CLASSES OP BONDS SECURED.

form of O00PON OF PRIOR LIES BONDS.
No. - — .
T
he
A
t
c
h
i
s
o
n T opeka & Santa F e r a il w a y C ompany will pay
to consist of two separate classes, nam ely: (1) An issue
to
bearer,
at
its
office
or
agency,
in
the
City
of
New
York,
on
of 4 par cent thirty-year P rior Lien, gold bonds, to an amount
Twenty dollars -$20) in gold coin of the United
not exes* lin g $17.0*),009, and (2) an issue o f General M ort­ State*, or its equivalent, without deduction for taxes, being six
gage /< r <v«'f on.-hundred-year gold bonds to an amount months’ interest then payable ou Its Poor Per .Cent Thirty-Year Prior
Lien ilold Bond No. P— , unless such bond shall have been culled
not exceeding §185,490,500, and the lien o f sai-l Prior Lien for
redemption and have become payable prior to that date.

W hereat. The bonds to be secured by this mortgage are $20.

bonds Is to be in all respects prior and superior to the lieu o f
said General Mortgage bonds.

Non:. -T h * aggregate amount o f both Issues o f bonds together can
never exceed $W% liJO.AW*. Tub Prior Lieu Bou 1* are to be issued
only in lieu of Ueuvrul Mortgage Beads, and In ©as-of the issue of
Prior Lien Bonds, j U ’ M o f th - G eneral M ortgage bonds must be

reserved, for the redemption of each $1,000Of the Prior Iren Loud*.
Also, of the 4U7.O0a.O3O authorUed, fi2.000.0p0 can only be issued
to replace a ilk.- am , nit uf existing prior seeuritlee: and .<5.000,000
ore res*'r»el fur itttfrtvnmenrs, ana to be used only In c
<ien.-r.il
M ortgage Imod* cannot be sold for 80 per cent, and in no event after

year 1900, {Eoed
DESCRtPTKMST OP PRIOR LIEN BONDS.

Treasurer,
FORM OF T X C e iE E 'S CBKTIFICA tB ON PRIOR LIEN BONDS.

U nion TimST Company of New Y ork hereby certifies that this is
one o f the series o ' Prior Lien Bou ts described in the within-men­
tioned mortgage or deed of trust dated December 12th, 1895.
U nion T rust C o m p a n y o f New YronK,
Trustee.
By
President.
G E N ERAL M ORTGAGE BONDS.

A nJ where n Tha said Prior Lien bonds are to be issued as
coupon bands of th * lenoniination of 851.0 *Hi each, numbered
cons--.-cutively from PI upward, and are to be payable at the
office or agency o f th® Railway Company in the City o f Now
York, In gold coin o f the Unit -1 Mtateeof the present stand­
ard o f weight and fineness, or Its equivalent, on the let day
of October, 1925. But all o r any of them arc to b * redeem­
able at the option o f the Railway Company by* lot upon any
coupon day at $1,030 and accrued interest {or each $1,000
bond, upon publication of notice o f redemption three months
prior thereto. And all are to bear in te m t at the rate o f 4
per cent per annum, payable in like gold coin at said office
or agency, on the first -lays o f April and October, to be sub­
stantially o f the following tenor, viz.:

Anti wh&ea* The .-slid General Mortgage bonds are to be
issued as coupon bonds o f the denomination o f §300, num­
bered consecutively from D1 upwards, and o f the denomina­
tion o f §1.090, numbered consecutively from Ml upwards,
and us registered bonds of 1 he denomination of $1,000, or
such convenient multiples of one thousand dollars as the
Railway Company may establish, each bearing a distinctive
number. They are to be payable at the office or agency of
the Railway Company in the City of New York on the first
day of October. A. D. 1095, in gold coin o f the United
States, o f the present standard o f weight and fineness, or its
equivalent, and to bear interest at the rate of -! percent
;*r annum, payable semi-annually in like gold coin on the
rat days o f April and October o f each year, to be substan­
tially o f the following tenor, viz.:

g

rom* w W toR fcifiN Bono.
No. V,

TORM o r OENER U, WORYOAOE COUPON BOND.
*1,000

UNITED ST AT ESS OP AM ERICA.
STATE O f H.l.V.VAS.
T n t A tchison T o m ka a S ant .v Fc R a il w a y C o u r t s t .

No. Tt--------

.

$500

M ................. .

$1,000
UNITED STATES OF AM ERICA.
STATS OF K A S S AS.

fo u r fe r Cent TAirty-Yenr fria r l i n t Hold Band.

T he atcbl - >x T opek t A S anta F k R ailway Oom pary .
Oenerai Mortgage fo u r f t r Cent Otw Uti nt! red - Year Cold Coupon Bond.
Fun valor BECLiVEii, The Atchison Topeka & Santa Fo Railway
Com patty (hereinafter termed tin* Railway Company), a corporation
organised under the taws of Kansas to Deeemlier, 1893, promises to
pay to bearer, or, if this bond be registered a* hereinafter provided, to
Hie registered holder thereof. Up* Sum of ($300, $1,000,) dollars gold
coin of the United .-dates of the present standard of weight and fine­
ness. or lt» Mittlvalrnt, Oil Hie 1st day of October, one thousand nine
hundred and nlaety-tive, at tho office or agency of the Railway Com­
pany in the «ftty of New York, and to pay Interest, thereon front Oeto­
ber 1st, 1995, until siiid principal sum shall become duo, at the rate of
four per oent per annum, payable to like gold coin, semi-anmutHy, nt
said office or agency, <m the first davs of April and October in each
ir, upon presentation and surrender of the respective coupons
Both the principal and Interest of this bond are payable without de­
refer, annexed and to bo annexed hereto, aa they severally become
duction. for any tar or taxes which the Railway Company may be re­
due. Upon preceiiiattoh Of this bond on or after Oetober 1st. 1045,
quired to pay or relate tbensfroin by any presen ter futons law o f the the Railway Company will attach thereto sheet* of coupons repre­
fruited Stases or o f any mate or Territory thereof: the Railway Com­ senting the Interest instalments to boeotne-dua after that date, proper
pany hereto agreeing to pay -itoh tux or^taxes.
indorsement thereof being made on the bond.
No recourse shall be ba t for payment o f the principal or Interest of
Both the principal and lute res! of rids bom! are payable without de­
this iiond against any stockholder, officer or director o f tho Railway duction for any tax or taxes which the Railway Com panym aybereCompany, either directly or through the Railway Company, by virtue
ulred to pay or to retain therefrom by anv present or future iaw of
of any statute, o r by the etiforenmou! o f any aiwteSMstubBt, or otherwise.
.ie United State# or o f any State or Territory thereof; the Railway
Tin - bond is one o f a series of Prior Lieu bond-, all o f like tenor aud
company hereby agreeing to pay such tax or taxes.
date, and not exceeding to tin* aggregate $17,WO,Odd, issued and to
No recourse shall be had for the payment of the principal or Interest
be Issued ta pursuance of, and all to bo equally scoured by, a mort­ of this bond against any stockholder, officer or director of the Rail­
gage or deed o f trust dated December 12th, 1995, executed by the way Company, either directly nr through ttio Railway Company, by
Rail war O,,ro.pauy to the Union. {Trust Oemptny of New York, as vtrtneof any statute or by enforcement: o f any assessment or other­
..Tnistoc, covering the projiarty and trwtthhie* of the Railway Com* wise.
pany, as therein ilMarUMd. to whlnh mortgage or deed of trust refer­
This bond i* one of a series of similar General Mortgage Four Per
ence is hereby made tor a description o f the property and franchise* Cent On« Uundrod Year Gold Bonds, coupon and registered, issued
iao:ri**g»4 and the right* of the tenders o f said bond* nttifer the sarin*, aud to ho Issued iu pursuance of, and all to be eanatly secured by, a
,.iid tm> terms and ctMtiUtbras upon wluolt told bonds are i-sued.
mortgage or deed of trust dated December IStb. 1BU5, executed by
All or any part uf said issue <d Prior Lien bond* may. us provided In toe Railway Company to the Union Trust Company o f Now York, as
-aid mortgage. b« nailed ky to* for rodent ptton, *> a promiuo of three Trustee, voverlnv the property and franchise* of the Railway Com­
per e-n t. on auy Urst <lay o f A pril or Goto ,er, notice thereof being
pany as therein described, to which mortgage orilecd of trust reference
j»iiats*hwi at bsarf three tnouth* prior to the l i v e of redemption, o!i 1* hereby made tor a description of the property and fruinhlses mort­
which date the Railway Company shad deparit with the Union Trust gaged, and the right.- of the holders of said bonds under the siimc, and
Company of New York for eaoh Prior Men a m l so Bulled tin* sum of too terms ami conditions upon which said bonds are issued.
one Ian.is >ad and thirty dollars upon special trust for th» pay moot of
This bond shall pass by delivery unless registered in the owner's
the principal of -Mr > band with a preuttmu of litre- per cent, aud name upon the bond transfer bonk* of she Railway Company, BttOh
fusteattcr all t# tore.»t snail cease t-> accrue on ihe bontls so nailed, and registration being noted on the bond by the bond registrar of tho Rail­
t It- eou p oai representing f iture luterost there on shall become anti be
way Company. After suoh registration no transfer of this bond shall
void.
he valid miles* made on said book* by the. registered owner, or Ids
Ybi* Iran i Shalt pas* by delivery tnilir* registered in the owner's attorney, and similarly noted on the bond; but the same tuny be dis­
name Upon tee bond tntusfor u.mfci et tu* Railway Company, such charged from registry by bring transferred to bearer, after which
1escisirntinn lining noted >01 th ■b mil w rim b ind registrar o f th- R ill- transferability by delivery shall be restored, and it shall continue
way C uftpany. A fie r such registration no transfer o f this bon l shall subject to successive registrations aud transfers to hearer ad before,
valid unless m id- on sail books tiy tit- r.-ri-f-rel owner or his at­ Suoli registration, however, shall not affect the negotiability of the
torney aud siinuarly it u.-*d tm Luo o »ud. but the same may bo dis- coupons, but tiie same shall continue to be transferable by delivery
* h,irg»d fr no registry by iidii* transferred t« nearer, after which notwithstanding registration of the bond. The holder may also, at
tr I'isfor.i diity by di-n very shall lu restore 1. ..ud it oiiall vonrlnuo sub­ any time, at his option, atm-nnder for cancellation this bond, together
ject to sttcies sive registrations and transfer* to hearer as before. Such
with tho coupon* for future interest thereon, and receive in exchange
r.itont. n,t.v.-v.T, siioii not orf. -t Mis ft-.- u iaiidify of thecoapons, therefor a registered bond without coupons, of the same issue, as pro­
out the some shall omjtUiae Pi be trAusforafde by dell w ry notwith- vided to said mortgage or deed of trust.
-I mdinv registration of the bond; but the rainpons may be surrendered
This bond shall nm be valid for an y purpose, unless authenticated
to 1.1- Ron way Company and e.»ti—"!ed, and saolieanMUation noted by by the certificate hereon endorsed by the t rustee under said mortgage
said bond registrar on urn back o f the houd. a fte r which transforahlllty
or deed of trust.
P er m in e received Th# Atchison Topeka A Santa Fe Railw ay Com
PMJT Own-mattor termed the "Knit way Cain p aay’9, fieorpo ration organ*
dim! under Me- in* a o f K m m - In Decem ber, I9 »S , promises to pay to
hearer, <>r, tf this hood be registered *» hereinafter p rovided, to tuc reglAterod holder Uier-sif, the sum o f one thousand dollar* ip,til coin o f tho
United .State*, o f the present standard o f Weight an d autrae**. or Its
equivalent. on the l l m day o f Oetober, or,.* thousand nine hundred
and. tw enty-ave, at the efts* or agen cy o f the Railw ay Com pany to the
City •>( S ow York, and to pay Interest thereon from O ctober 1st. 1895,
imtu said principal sum shall becom e due, or until tills bond shall have
becom e payable pursuant to a call foe redemption, a t the rate o f four
per cent, per annum, payable to like gold coin, semi annually, at cu d
office* or agency, on the first days of A pril and. O etober to each year,
upon presentation aud surrender o f the respective coupons therefor
annexed hereto, as they severally mature.

S

a

THE CHRONICLE,

732

S[VOL.

L X H .^

t.Vo. shares \Totcd
$ 1Hies. transferred, issuName o f Company.
36,820
1T36,800 ~
M exico <fe Arizona RR. Co. sto ck ................
87*8
Benson, Ariz., to Nogales (Mexican B'y)
50,162
50,142
Pueblo & Arkansas Valley RR. Co. sto k
Kansas State line to South Pueblo, Col. 150-2
40-3
Tuu A t c h is o n T o p e k a «fe S a n t a F e R a i l w a y C o m p a n y ,
South Pueblo, ■ol., to Canon City, Col.
7 1
Branches to Coal Mines, C ol..................
By
96-6
oLa Junta, Col., to N. Mex. State line
69,380
69.380
Comptroller.
Rio Grande M exico & Pacific RR. Co. stock
San Marcial, N. M., to Doming, N. M ... 1 2 9 0
Attest:
570
1,980
2,000
Rio Grande A El Paso RR. Co. stock ........
200
(T exas State line to El Paso, Tex — .. .
7,060
7,080
FORM O P CO UPO N O F G E N E R A L M O R T G A G E BONDS.
Silver City Deming A Pacific- RR.C o. stk ..
48-295
$10
(Denting, N. M.,'to Silver City, N. M ....
No. D ..................
U
3,144
50,603
$20 Southern Kausas Ry. Co. s to ck ..................
M ...................
Holiday, Kan., to Pan R andle City. Tex. 543-2 ^
T h e A t c h is o n T o p e k a & S anta F e R a i l w a y C om pany will p ay to
Ark. City, Kan., to Purcell, Ind. Ter . 154-5 1Includes
bearer at its office or agency in the City o f New York, on the
61-7 f entire “ system. ’
iChanute, Kam., to Pittsburg, Kan., etc.
, J.JJJ [ in gold coin o f the United States, or its equiv­
J
jLines to Burlington, etc., in K an sas... 182
52,480
>1152,460
alent, with m t.’deduction for taxes, being six m onths’ interest then Sonora Ry. Co., Limited, stock....................
(Nogales (viex. B’y) to Guaymas, Mex . 262-6
payable o n its General M ortgage Four Per Cent 100-Year Gold Bond
9,700
9,685
St. Joseph St. Louis A Santa l-’o R.v.Oo. sill.
(N o Ijixington, Mo., via St. Joseph to
° ’ m ...................
Treasurer.
(W iuthrop. Mo., opposite Atchison,
97-6
Kan., and branch (11-6) m iles— . —
30,410
60,720
REGISTERED BOND-?.
Southern California Ry. Co. pref. s t o c k ...
67,520
67,298
(D o
do
com m on sto ck ...
The registered bonds are in the same form for blank dol­
(B'arstow, Cal., to San Bernardino, Los
lars, but without coupons, the principal and interest being
Angeles, San Diego and National City,
488 150
payable only to the registered holder.
Cal., and branches.......................... - —
18,224
21,250
Wichita A Southwestern Ry. Co. stock ---PROPERTY CONVEYED AS SECURITY.
79*4
(New ton, Kan , to Arkansas R iver Kan.
51*5
(M ulvane, Kan., to Caldwell, Kan., etc..
[Note.—The application to list the bonds on the New \ ork

IS w it n e s s w h e r e o f , saul Railway Company has oause.1 these
nrenenta to be signed by its C om ptroller, or a D e p u ty Comptroller, and
ltd corporate seal to be hereunto affixed and attested by its Secretary,
or ai^Assistant Secretary, and coupons with the engraved signature
of its T re a su rer to be attached hereto tills 12th day o f Decem ber, l8.)o

Stock Exchange, dated April 7, 1896, says :
" T h e general m ortgage * * gives a lien, either by d irect m ortgage or
by collateral trust on tlie entire system o f 6.481 miles o f railroad, to..other With ail the equipm ent and terminals owned b y the com pany,
and future acquisitions, subject only to the $9,000,000 o f guarantee
fund notes secured by m ortgage on the line from A tchison to the
western bouudrv o f Kansas, and subject to liens on certain equipm ent
for about $2,500,000, to $1,500,000 o f Chicago & St. Louis lilt. Co.
bonds (secured by lien on about 60 miles in Illinois), and the rem ain­
ing outstanding bonds o f certain controlled companies, am ounting in
the aggregate to about $698,000."
R A IL R O A D S O W N E D A T T IM E O P M O R T G A G E .

4. All and singular the railway of the Railway Company,
from and including:
L ine o f Road.
Miles.
Atchison, Kansas, through Topeka to the western boundary o f
the State................................ - .............................................................. 470-o8
A L L R A IL W A Y S H E R E A F T E R A C Q U IR E D .

All other railways, extensions and branches now or here­
after held, owned or leased, or in which it shall hold any
interest, in Kansas or elsewhere.
A L L E Q U IP M E N T , F R A N C H IS E S , L E A S E S , ETC.

ISee also follow in g paragraphs for additional am ounts transferred]
HThese shares the com pany m ay dispose o f—see A rticle Five.
.
(Supplied; not in mort. 1Also 37,434 shares conveyed by “ C” below?
A n d a ls o a ll o t h e r s h a re s o f a n y o f s a id r a ilr o a d c o m ­
p a n ie s n o w o w n e d o r h e r e a f t e r a c q u ir e d .
CERTAIN STOCKS OWNED BY COMPANIES CONTROLLED.
C . A l l in t e r e s t o f t h e R a ilw a y C o m p a n y in t h e f o l l o w i n g
s h a re s o f t h e c a p it a l s t o c k o f c e r t a in o t h e r c o m p a n ie s , s u c h
s h a re s b e i n g [ f o r $100 e a c h a n d ] h e ld b y r a ilr o a d c o m p a n ie s
t h e w h o le o f w h o s e c a p it a l s t o c k s , o r a c o n t r o l l i n g in t e r e s t
in w h o s e c a p it a l s t o c k s , b e lo n g s t o t h e R a ilw a y C o m p a n y :
§Miles No.sh’ r’s §Total
Name of Company.
.
owned, t e s t ’d, issue.
9,995 10,000
•61
Mississippi River Railroad A Toll Bridge Co...
H eld by the Chi. Santa Fe & Calif. Ry. Co.
Southern Kansas Railway C o.............................. 842-00 +37,434
^37,434 50,603
Held by the Kans. City Topeka A W. RR. Co.
6,045
100-00 5,955
Southern Kansas Railway Co. of T ex as............100-00
Held by The Southern Kansas Ry. Co.
1,000
497
9*87
Kausas City Belt Railway Co......................
Held by the Kans. City Topeka A W. RR. Co..
4,500
4,480
•76
Sibley Bridge Com pany.....................................
Held by the Chi. Santa Fe «fc Calif. Ry. Co.
4,222
Southern Kansas <fc Pan Handle RR. C o.......... 2,824 3,000
H eld by The Chicago Kansas <fc W. RR. Co.

Including all telegraphs, telephone lines, road-beds, rights
of way. rails, bridges, station, engine and car houses, ma­
chine shops, office buildings, and all lands, buildings and
^Supplied, not in m ort. {A lso 13,144 shares conveyed by B above
fixtures, all equipment and contracts, and all other property,
A n d a ls o a ll o t h e r s h a re s o f s a id c o m p a n ie s n o w o w n e d o r
real or personal, of every kind and description now owned
or hereafter acquired, appertaining to any such lines of rail­ h e r e a f t e r a c q u ir e d .
ALSO CERTAIN BONDS OWNED FREE FROM ANY LIEN.
way. Also all locomotives, engines, cars and other rolling
stock now owned or hereafter acquired. And all rights,
I). A ls o t h e f o l l o w i n g b o n d s a n d a ll t h e r i g h t t h e r e t o :
privileges, franchises and immunities, together with the
[Note.—These bonds constitute in each case the entire loan issued
excepting as to thirteen of the issues, fragm ents o f which aggregating
rents and profits of all said property.
LIENS ON ABO VE P R O P E R T Y TO W H IC H T H IS M O R T G A G E IS SU B JE C T .

$1,560,950 (since reduced to $698,000 were) still outstanding. Section
3 of Article 1., it will be observed, reserves $1,500,000 o f General Lien

Subject, however, as to property now owned to the fol­ bonds to take up the amount atioat of all loan s.—E ds .]
lowing mortgages executed by Atchison Topeka & Santa Fe
Description o f Bonds—
RR. Co.

P a r A mount
Pledged.
$7,041,000
14,889,700
1,000,000
U7,000,000
2,056,000
3,442,220
14,721,000
13,012,500
6,633,600
798,000
142,000
775,000
12,671,000
8,188,000
195.000
2.940.000
956.000
1.109.000
532.000
144.000
100.000
350.000
594.000
854.000
200.000
630.000
795.000

Top. & S'. Fe RR. Co. 1st M. 7s, due 1899....................
Description—
Held by public. Atch. Do
do
Collateral Trust 5s, due 1937..
1st mortgage bonds o f 1869 for $7,041,00, all o f which are
T)o
do
Guar. Fund Notes, 6 per cent..
owned by the Railway Company and pledged hereunder..
Mono
Do
do
in Chicago 1st M. 5s, due 1937.
Guarantee Fund M orrvage Notes o f 1888 fo r $10,000,000,
California Southern RR. Co. 1st 31. 6s, due 1926.................
o f w h ic h $ l,000,0000 are owned b y the R ailw ay Company
Do
do
Iucom e 6 p er cent bon ds.......
and pledged hereunder.............................................................. $9,000,000 Cliic. Santa Fe & Calif. Ry. Co. 1st 31. 5s, due 1937............
CERTAIN STOCKS OWNED TO BE TRAN SFERRED TO TRUSTEE. Chic. Kan. <fc West. RR. Co. 1st M. 5s, due 1926...................
Do
do
Incom e 6 per cent bonds.........
B . Also the following s h a r e s of stock (all for $100 e a c h ) to Cowley Sumner & Ft. Smith RR. Co. 1st M. 7s, due 19 09..
b e transferred to t h e Trustee a s hereinafter provided :
Elk & Chautauqua RR. Co. 1st M 7 s .......................................
N o te .—T he control o f these proprietary lines, as also o f the Chloago Flor. Eldorado & Walnut Val. RR. Co. 1st 31. 7s, due 1907
Gulf C olorado & Santa Fe Ry. Co. 1st 31. 7s, due 1 9 0 9 .. . .
Santa Fe & California Ry. Co. and A tchison T opeka A Santa Fe RR. Co.
Do
do
do
2d 31. 6s, due 1923.......
in Chloago, both mentioned in a succeeding paragraph, is vested in the Harvev County RR. Co. 1st M. 6 s ...........................................
Kan.
City
Lawrence
&
South.
RR.
Co.
i st 31. 6s, due 1909
Atchison, as will he seen, through the ownership o f a m ajority and, in
Kingmau Pratt & Western RR. Co 1st 31. 6s, due 1916___
m ost casos, o f tho entire, or alm ost entire, capital stock, while their Kansas City & Emporia RR. 1st 31. 6s....................................
total m ortgage indebtedness, aside from the thirteen fragm ents o f Kansas City Emporia & South. RR. Co. 1st 31. 7s, due 1909
Do
do
do
2d 31. 6s..................
loans aggregating $1,560,950 (tor which, as is stated in A rticle I, SecHoward Extension 1st 31. 6 s....................................................
111, General M ortgage Bonds are reserved), is pledged to secure the Kansas City A Olathe RR. Co. 1st M. 6 s.................................
bonds issued under this deed o f trust. Besides the shares transferred, Kansas Southern Ry. Co. 1st 31. 6s ................. .......................
as shown in the table below , additional amounts held to qualify direc­ Kansas City T opeka & West. RR. Co. 1st M. 7s, due 1905.
do
do
do
do Incom e 7s, due 1906.
tors or for other purposes arecouveyed as per subsequent tables.—E ds .
do
do
do
do 6 per cent bonds_____
do
do
do
do 2d M. 6s........................
I No. shares ( Total
Name o f Company.
^Miles. transferred, issue. Leavenworth Topeka «fc Southwestern Ry. Co. General M.
4s, due 1912................................................................................
Chicago Kansas A Western RR. Co. stock.
47,343
65,423
689.000
Leavenworth Northern & Southern Ry. Co. 2d 31. 6 s .........
5Sundry lines, allin K ausas...................... 943-7
508.000
339.000
D enver & Santa Fe Ry. Co. stock ...............
14,980 15,000 Manhattan Alm a & Burlingame R y Co. 1st M. 6s................
Marion & M cPherson RR. Co. 1st 31. 7s, due 1909 ..............
713.000
(South Pueblo, Col., to Denver, C ol......... 116 3
385.000
Denver Ciroie Road.....................................
9-7
do
do
do
2d M. 6s...................................
Florence E l.& W alnut Valley RR.Co. stock
7,180
8,540 Marion & McPherson E xtension RR. Co. 1st M. 6 s ..............
130.000
(F lorence, Kan., to Winfield, K an............
72-7
New M exico A South. Pacific RR. Co. 1st 31. 7s, due 1909.
5.610.000
Gulf Colorado & Santa F e Rv. Co. stock ..
45,250
45,600 New M exico <& Arizona RR. Co. 1st M. 6 s ............................. 112,313,000
___ , ___
(Purcell,lull. Ter.,to Galveston,Tex., A b r.l,058-0
New M exican RR. Co. 1st M. 6 s ...............................................
1,070,000
Kansas City Topeka & Western RR.Co. stk.
34,989
35,000 New M exico & Southern Pacific RR. Co. 2d M. 6 s...............
3,692,000
(Kansas City. Mo., to Topeka, K an .........
66 0
Ottawa & Burlington RR. Co. 1st M. 6s, due 1909...............
500,000
Kan. City Emporia A Southern Ry. Co. stk.
5,937
8,381 Pueblo A Arkansas Valley RR. Co. 1st 31. 7s, due 1905___
3,715,000
(Em poria, Kan., to Moline, K an .............. 84'4
do
do
do
2d M. 6 s ........................
1.770,000
Leavenworth Nor. A So. Ry. Co. stock___
6,396
6,416 R io Grande M exico A Paciflo RR. Co., Western A Southern
(W ilder, Kan., to Cummins’ June., Kan. 46-2
Division, 1st M. 6s....................................................................
4,650,000
Marion A Me Pherson Ry. Co, stock ..........
13,443 15,393 R io Grande A E l Paso RR. Co. 1st M. 6 s ................................
500,000
Florence, Kan., to Ellinwood, K a n ......... 98-4
Sonora Ry. Co., Limited, 1st 31. 7s, due 1910....................... 115,244,000
Few M exico A Southern Pacific Co. stock.
93,000 93,020 Southern Kansas & Western RR. Co. 1st M. 7s, due 1910..
1,576,000
(N. Mex. State line to San Marcial, N. M. 354-0
Southern Kansas Ry. Co. (Harper & West. Div.) 1st 31. 6s.
1,378,000
Branch Lamy to Santa Fe, N. M .............
18-3
Do
do
(Girard Extension) 1st M. 6s
135,000
New Mexican RR. Co. sto ck .........................
14,538 14,558
Do
do
(K. C. & Emporia D iv.) 2d 31. 6s.
301,000
[Socorro, N. M., to Magdalena, N. M . . .
310
(Lines to Cartliage.Lake VaL,N. M., etc.
37-2
These bonds may be disposed of; see Article V

A pril

16S6.J

Description o f Bonds—

THE

Southern Kansas Hy Co. Gulf Div. 1st M. 5s, due 1926---Do
do
of Texas 1st M. 5s, due 1927...,
Do
do
Ineoine 6s, due 1927....................
Silver City Demins; & Pacific KB. Co. 1st M. 6s...................
Sumner County KB. Oo, 1st M. 7s, due 1910................ .
Wichita * South-western RK. Co. 1st M. 7s,due 1902........
Do
do
2d M. 6s............................
Wichita & Western RR. Co. 1st M. as, due 1911..................

C H R O N IC L E .

P a r Am ount
Pledged.

4,208.080
1,543.870
1,478,950
708,000
185.000
4,12,000
205,000
791,000

C E U T A IN S E C U R IT IE S P L E D G E D F O B C O L L A T E !! W. T R C S T B O S K S , D O E
1 9 3 7 , A L L B U T $ 1 1 0 , 3 0 0 OK THE L A T T E S B B IX G
P L E D G E D ll E E E t M iE K .

I'. Also all the right, title and interest now owned or
hereafter acquired in the following bonds, which are de­
posited with the Boston Safe Deposit & Trust Company
as Trustee under an indenture dated Dec. 1. 1886, executed
by the Atchison Topeka & Santa Fe RR. Co to secure an
issue o f the collateral trust 5 per cent gold bonds, due 1937,
viz., the following (these bonds are in each case the
entire outstanding loan):
D escription o f Bond# -

P ar Amount.

California Central By. Co, 1st M. 6s,......... .......... ............... $6,457,000
Chic. Santa Fe a CiilforutaBy. Co. (Pekin Div.) 1st 31. 6s
733,000
Denver & Santa Fe By. Co. 1st M. 6*....................................
3,106.000
Leavenworth Northern A Southern By. Co, 1st M 6s----646,000
Pueblo & Arkansas Valley RR- Co. 2d M. 6a. ....................
500,000
270,000
Bedondo Beach By. Co. U tM .B n .........................................
8t, Joseph St. Louis & Santa Fe By. Co. 1st 31, Os..............
1,907.000
St. Louis Kansas City & Colorado RB. Co. 1st M 6 s . ----- *T1,381,000
T ota l.............................. ......................................................$15,000,000
5 These bond* the company may dispose o f ; see Article Five.
Note.—The bonds outstanding at the time of execration o f the mort­
gage, secured by this deposit of o dlaterala (8! 10,300) have since been
acquired, thus releasingtbcse securities to the amount o f $15,000,000.
»« stated, and bringing them under the direct lien of the present
mortgage.
STOCKS PLEDGED TO eECVRS GUARANTEE I M h BOTE*.
A lso a ll r ig h t to th e fo llo w in g shares o f ca p ita l s to ck :

733
No. o f
Shares.

Name o f Company—

Silver City Deming A Pacific RR. Co..........................................
20
St. Joseph St. Louis & Santa Fe Ry, Co.....................................
15
8t. Louis Kansas City A- Colorado RR........................................ 10,000
Scandinavian Coal A Mining Co..................................................
200
St. Joseph Terminal & RR. Co..................................................... 1,500
Of which held by the St. J oseph St. Louis & Santa Fe Ry. Co.
1,223
Southern Kansas Ry. Co. of Texas...............................................
90
Southern Kansas A Pan Handle E k. Co.....................................
10
Santa Anna Valley Irrigation Co................................................
413
Trinidad Coal & Caking Co............................................... .......... 1,625
Of which held by The Pueblo A- Arkansas Valley BR, Co.
j .Oi S
Union Depot Company of Kansas City, Missouri..................
900
Of a inch held by the Southern Kansas Ry. Co........ ...........
2ro
Name o f Company.

No. o f
Shares.

Name o f Company.

No. o f
Shares

Arkansas Vai. Elevator,.
975
Raton Coal & Coke Co
5,000
Atchison City Elevator..
304
Raton Water Co...........
500
Aztec Land A Cattle Co. 2,157
Rio Grande Land Co...... 2,500
Arizona Mineral Belt Ry.
240
Rush Centre
Town
Co,..
~
~
~
12
Oerrillos Coal RR. Co.... 25,000
Sonora Ry. Co., Limited.
20
Denver A Santa Fe Ry...
20
Southern Kansas Ry. Co.
25
Htmnewell Town Co,___
250
San Pedro Coal A Coke..
400
Kansas C'itj- Belt Ry. Co.
St. Joseph Union Depot.
3
10
125
Sibley Bridge Co.............
Leavanw’ th D epot* RR.
20
San Antonio Water Co...
-Marion A McPherson By.
20
6
Santa Fe Town A Land.. 2,500
Marine Ry. A- Dry Dock .
146
Midway Ry. Co................
Topeka Equipment Co... 3,000
200
New Mexican RR. Co—
Topeka Iron Company..
...
20
550
Vulcan Fuel Co............... 600,000
New Mexico Town Co....
950
Fuebio A Arkansas V&L.
20
Wichita & Southwest* Ry.
20
Osage Carbon C o .......... 3,000
Wichita A- Western Ry... 2,250
Peck Water Work* Co ..
372
Western Union Beef Co,. 2,000
Rio Grande A El Paso RR
20
World's Colum. Expos... 5, 00
In c lu d in g a lso all in terest w h ic h the R a ilw a y Companyn o w has o r m a y h erea fter a cq u ire in th e fo llo w in g b on d s:
Name o f Company.

Am ount.

Atlantic A Pacific Kii, Co. Guaranteed Trust 4*......................
S3,000
Do
do
Central Division income bonds.... 637,000
Do
,
do
Western Division iueoiue bonds.., 594,500
Do
do
2nd M. bond coupons
............. 168,000
Atchison Union Depot A- RR, Co. 2nd M. 5s.............................
9,000
Aztec Lund A Cattle Co. 1st Mort. 6 s .................... .................. 100,000
Arizona Mineral Belt Ry. Co. Interim bond,.............................
30,000
Shares i Total
Do
do
1st M...........................................
1,000
Pledged.
Issue,
Miles. Beach Hotel A Sea Side Improvement Co ............................ .
10,000
Ohleago Santa Fe A Cal. By. Co. stock ... 149,980 150,000
Colorado Midland BR. Co. Consolidated M................................
10,000
f. Chicago, 111., to Ranee* City. Mo ...........
438-6 Devlin Coal Co. Irt M. 0* .......................................................... 318.000
, Ancona. III., to Pekin. Ill,. . . . . . . . . . . . .
52-4 Kan*as City Belt Ry. Co. 6 per cent bonds................................
15,000
Atch. Top. A A Fe HR. O .tn Chicago stork 149,1*80 50,000
Kansas City A Northwestern RK. Co. first mort, 5*................
2,000
5-2 St. Irani* A SMI Francisco fly. Co. Cento!. M, 4s..................... 128,000
^Terminal* at Chicago ................................
Trinidad Coni A Coking Company 6* .................................... . 100,000
; Huppltet*. not in mortgage. 7 These share* the company may dis­ Town of Ln Junta Water Bond* ........................................ ......
36,000
pose o f; see Article Five.
t i t k.u l w tr*. KQtrtPMEvr, sec itrrtKs, im ;., niiutUFTCit acooibbd
with
i-WMiKKiis
o
r
bond
*
iikubhy
skcokrd
.
T h w c s to ck s at® n o w d-iposite-l w ith th e B oston S a fe D e­
posit & T ru st C o ,, a s tru stee, as part x e c a r ity fo r th e G u a r­
M.
A ls o a ll th e in terest o f th e R a ilw a y C o m p a n y in a ll
a n tee Fu nd N otes o f 1888.
ra ilw a ys, exten sion s, b ra n ch es, eq u ip m en ts, s to ck s , b on d s
and o th e r p rop erty o f e v e ry d e s crip tio n h e re a fte r a cq u ired
« C C « n n » PLEDGED POE CMICAflfl EASTA »g A CAL. BONDS.
A ls o all the rig h t, title a n d in terest w h ich th e R a ilw a y b y use o f the $5,000,000 (if P rior L ien b on d s or th e $30,000,000
01 G eneral .M ortgage b on d s, reserved as h e re in a fte r pro­
C om p a n y n o w has, o r m ay h e re a fte r a cq u ir e , in o r to
vid ed , or b y use o f a n y o th e r b on d s o r m on eys re ce iv e d b y
8lh!*y Bridge Co. 1*5 M 6. . . . . . . ----- * .. . ______ . . . ----- $850,000
MiMisSippi latter RB. & Toll Bridge Co. 1st if. 6b___ _______ 630,000 th e R a ilw a y C om pa n y u n d er a n y p rovision o f th is in d en tu re.
II, A lso all stock s, b on d s, ce rtifica te s o f in d eb ted n ess,
These bands a re n o w j s p o s M w ith th e B oston S a fe De­
posit & T rust C o ., a s trustee u nder th e trust deed o f the cla im s and o th e r p ro p e rty o f e v e ry n am e and n atu re w h ich
th e R a ilw a y C om p a n y is req u ired b y a n y o f th e p rov ision s
C h ica g o S a n ta Fe & C a liforn ia R y . C o ., d a ted Jan. 1 . 18*7.
A n a th e R a ilw a y C o m p a n y h ereb y au th orizes th e T rustee, o f th is in d en tu re t o tr a n s fe r to the 'Trustee h ereu n der.
u pon release o r red em p tion o f said te n d s a n d shares o f TO SECURE FIRST THE PRIOR LIEN BONDS AND SECOND THE
GENERAL LIEN BONDS.
s to ck m en tio n e d in this su b d iv ision <Et, to ca u se said shares
B u t in tr u st. nevertheless f o r th e eq u a l s e c u r ity o f alt su ch
t o be tra n sfe rre d to th e T ru stee h ereu n der.
ALL OTHER SECOKtTIM ACQUIRED AT RAID JUDICIAL SALE, INCLUDING P rio r L ien bond s, a n d s u b je c t th e re to , fo r th e equal s e cu r ity
o f all said G eneral M ortga ge b on d s, so th a t th e said P rior
CERTAIN All ARES USED TO tiCAUJTV DIRECTOR*.
F.
A lso all o th e r s to ck s, t e n d s o r oth er secu rities a cq u iredL ien bond s, w ith ou t regard t o th e tim e o f a ctu a l issue, sh all
at said ju d ic ia l sale, in c lu d in g a ll rig h t n o w or h e re a fte r a c ­ have p r io rity and p r e fe re n ce as to b o th p rin cip a l a n d in terd o v e r th e said G en eral M ortga ge b o n d s , and s o th a t e a ch
q u ire d in the fo llo w in g shares o f ca p ita l s to c k , v iz .: (A s to
b on d o f e ith e r o f said t w o issues o f b on d s, issued a n d to b e
rig h t t o sell these shares, e tc ., see A rticle F iv e.)
issued, shall h av e th e sam e lien a s e v e r y o th e r b o n d o f th e
Vo. o f
Name o f Company—
Snare*. sam e issue, as th o u g h a il h ad b een n e g o tia te d sim u lta n eou sly .
Atlantic k: r,u-ifly RR, Co...........................................................S»I,51!**s
Of which sbarr* 257.519 share* are. held by Warmtt Sawyer,
A R T IC L E ONE.
trustee, and 2*x aitsnr* by Alilnce F Walker a* trustee.. ’
GENERAL MORTGAGE BONDS LIMITED T O 8105,400,500; PRIOR
Colorado Midland BE, C o..................................... ........... ....... 80,001
LIEN BOND > TO 317,000,000
S t Irani* A Sun Pnmeisco By. Co. common *t«<-k........ ........ 117,102
Do
•!•>
preferred -.fo rk ................ 90.933
S eb M on 1.— T iie a m o u n t o f G eneral M ortg a g e b o n d s w h ick
Do
do
rtnrt preferred (rtock.......... 14,960
m a y be issued shall n ot in a n y e v e n t e x c e e d $165,490,500and
Atchison Topeka St Santa Fe RR. Co. In Chicago...................
20
Ateblaou Union Depot. & RR. Co ............. ............................
18
o f P r io r Lien b on d s sh a ll n ot in a n y e v e n t e x ce e d $17,000,000.
Of Which are held bv tbe S t Joseph St Loui* .1 Santa Fe
GENERAL MORTGAGE B INDS FOR $96,090,500 TO BE ISSUED
Ry. Co ............................................. .............. .................. .........
0
FORTHWITH.
Atlantic A ! 'i -((to Equipment C o.. . . . . . . . . . . ............................ 2,000
Arizona Southern RR. tw, (*nb»cript!on).,,,...........................
1,000
S ec . 2. O f su ch G en era l M ortga ge b o n d s $96,990,500 w h ich
Chicago Kansas A Western RR. Co...........................................
20
shall re ce iv e a fu ll in sta lm e n t o f six m o n th s ’ in te re s t on
Chicago Santa Fe A California Ry. C o . . . ..................................
20
A p r il 1st, 1896, sh a ll fo r th w ith be d eliv e re d to E d w a rd
Canon City Coal Co................................................ .................... .8,500
K in g . R. S om ers H ayes, E dw a rd N. G ib b s, G eorge G. H a v e n ,
Of which held hy the Pu -bt* A Arkansas Valley RR ..
'.jot
Chicago Union Transfer By. Co. preferred_____ ___
tod
A d ria n Iselin , J r., R ob ert F le m in g , C. S lig o d e P o th o n ie r,
Do
do
Common........................
400
J oh a n n es L a d en and V ic t o r M ora w etz. o r upon th e o rd e r o f
Cirri!!.•- ... . Iron.CO..................................................... . ... 10.000
a n y s i r o f said persons.
Of which pledged to arid held by J. J. McCook and 8. B.
Elkin*, iru*tee*.......................... ................................ .
0.00% GENERAL MORTGAGE BONDS FOB $3,000,000 RESERVED TO
'
: M Riny • •........... .. ..................
RETIRE CHICAGO A 8T. LOUIS 6* AND FRAG 1ENTS'OF
held by the southern Kansas By. Co.
OLD LOANS NOT 489ENTINGTO REORGANIZA­
Florence Eldorado A Walnut Va'ley RR. Co...... .................20
TION OF 1889.
Forest Park A Central Kit Co . . .................
10
S ec . 3. O f the re m a in d e r o f th e G eneral M ortga ge b on d s
. . . ............. .............. ...... . . . . .
250
Kansu* city Emporia ,t- Sou (hern By. Co ................................
20
$1,500,000 sh all be d eliv e re d o n ly fo r th e a cq u is itio n or re­
K Vi •<■- y !■:- r!. 1 :: V. W: •. ! r v R I; .< V, .....................................
li
d em p tion o f the $1,506.000 first m o r tg a g e 8 per cen t b o n d s o f
Lo* Vega* Hot Spring* Co .........................................................
2.466
th e C h ica g o & St. L ou is R R . Co. du e in 1915 a n d $1,500,000
of which boM i<v the New Mexico a Southern Pacific R B ...
e.tjtt
o n ly fo r th e a cq u is itio n or red em p tion o f th e fo llo w in g o u t­
Leavenworth N'ortlicru A SoOUicrn hy. Co
..
.
20
Leavenworth Topeka A Southwestern Ry. Co......... ............... 5,509
sta n d in g b on d s, c o n s titu tin g part o f issues o f w h ich th e re­
of which held h f B. 1 othrop Thorndike, Trustee. . . . . . . . . __
aos
Manhattan Ain,a A Hnrltngnrne Ry. Co........................ ...........
4.180*3 m a in d er 1ms b een assign ed t o th e T rustee o r ca n ce le d .
of which hold by J. F. Dillon, TruUco................. ...................
Atchison Topeka St Santa Fe RK. Co. Col Trust- 5s,(lue1937. .$110,300
Chicago Knusa* A- Western BR. Co. 1st 51. 5s, One 1926.......
Mteateippl Rivw RB. ,V Toll Bridge Co
................... , . ....
5
271,500
New Mexico A Arizona RR. Co......
........... .....................
20
Do
do
do
do
Income Oh, due 1926, ,,.
8,400
New Mexico A Southern Pacific RR. Co................................. *
20
Chicago Santa Fe A* California Ry. Co. i #t M* 5s, due 1937..
629,000
Pacific. Land A Improvement Co. ...
..
’
1,000
Southern Kansas Ry. Co. of Texas 1st 8 « 5s. due 1 9 2 7 ......
39,130
Freecott A Arizona Centra! Rlt. Co.......
. ......
349
I>o
do
do Culf Division, 3*1 M. 5h, due 1920
127,920
Rio Oran ie Mexico A Pacific RR. C o ......................................
20
Do
do
do
Income 6s, dee 1927— . . . . . . . 1,050
Southern California Ry. Co.. Common..........
222
Gulf Colorado Sr Santa
Fe Ry. Co. 1st M. 7s, due 1909.
25,000
do
do
Preferred,.....................................
29
Do
do
do
do
2d M. 7s, due 1920......
270,000

784

THE CHRONICI E,

Brought fo n o u rd ........................ - ........... *.................- ................
Sonora Railway On. 1st M. 7s. due 19 10........................... .....
St Joseph St. r.oula A Simla Fe Hy. Co. 1st M. Os, due 1918.
Loaven. Top. A Southwest, KB. Oil. Gou. M. As. due 1 9 1 2 ...
California Southern Ry. Co. Incom e 6s, due 1926...................

$/,^sy,yo°
$4,000
8 .0 0 0

1.000
59,650

[VOL. LX1I.

and to reimburse the Railway Company for any expenditures
made by it for the purposes aforesaid.
BUT ONLY ON VOTE OF BOARD OF DIRECTORS.

Bonds shall be delivered by the Trustee under this Section
$1,560,950 5 only upon resolution of the board of directors of the Rail­
Total
way Company, certified by the Secretary or Assistant SecreN oth .—Bonds enumerated in tiiis schedule lo the amount o f, tarv, stating that such bonds, apart from all other assets
$834,400 have been acquired since the exeoutlnn o f the mortgage. [L os.
and funds o f the Railway Company, and will be used only
When called for by resolution of tin' board of directors, or for the purposes authorized by this Section.
of the executive committee of the Railway Company, the AND NOT E X C E E D IN G $3,000,000 TH EREOF TO BE ISSUED
5 'EARLY.
Trustee shall deliver to the Railway Company the amount
of those General Mortgage bonds which tne Railway Com­
The bonds so reserved shall be delivered only at a rate not
pany. by its President, Chairman of the boar 1 of directors, exceeding in the aggregate $3,000,000 bonds on or after the
Treasurer or Assistant Treasurer shall certify that it lias first day of July. 1S9G. and $3,000,000 additional on or after
agreed to give in exchange for said bonds, but never to ex­ each first dav of Julv thereafter; it being understood that
ceed. at par. the amount of such bonds received by the any portion of $3,000,000 which shall not be delivered in any
Trustee in exchange, or the amount paid and canceled.
year ending June 30tlr after June 30th, 1896,) may be deliv­
GENERAL MORTGAGE BONDS FOR $ 1 5.500,000 RESERVED TO ered at any time thereafter in addition to the annual amount
R E TIR E GU ARAN TEE FUND NOTES. EQUIPMENT
of $3,000,000. The net proceeds of the bonds sold shall sim­
BONDS AND CAR TRUSTS.
S ec . 4. Of the General Mortgage bonds, 8 15,500,000, less ultaneously be deposited with the Trustee and be paid over
such amount as shall be delivered, or reserved as provided in to the Railway Company from time to time, upon certificates
Section 6 of this Article, shall be reserved for the purpose of as hereinafter provided.
providing for the acquisition or the redemption of the fol­ FOR SAID EXTENSIONS, NOT E XC E E D IN G $750,000, MAY BE
ISSUED Y E A R L Y AT $15,000 PE R MILE.
lowing :
Atcli. Top. & Santa Fe RR. Co.Guar. Fund Notes,dne 1898 $9,000,000
The amount of such bonds which may be delivered for the
Equipment Bonds, Series A , dated March 1st, 1892,
_
construction or acquisition of branch lines or extensions or
amounting on Jan. 1 st, 1895, t o ...........................................
1,750,000
for the acquisition of stocks, bonds and indebtedness of other
Oar trusts o f any com pany in the system not exceedin g...
1,270,414
companies owning such branch lines or extensions, shall not
T otal....................................................................................... $12,020,414 exceed $15,000 par value of such bonds per mile of completed
railway, less the amount of any liens or charges therjon,
When called for by resolution of the board of directors, or and shall not exceed in the aggregate $750,000 par value out
of the executive committee, o f the Railway Company, the of each $3,000,000 of such bonds in any one year; and in
Trustee, on tender to it of any such outstanding obligations, addition thereto any portion of $750,000 par valqe o f said
shall deliver to the Railway Company the amount of Gen­ bonds which shall not have been delivered for that purpose
eral Mortgag'fc bonds which the Railway Company has agreed in any previous year out of said $3,000,000.
to give in exchange for the obligations so tendered; but not
P R O V ISIO N ! GOVERNING THE ISSUE OF SA ID $30,000,000
more than $1,250 par value for each $1,000 par value.
GENERAL MORTGAGE BOND3.
[The provisions respecting the use of the General Mort­
On
or
after
July
1, 1896, upon receipt of a copy of such
gage bonds reserved under this Section are very stringent,
and are similar to the provisions in Section 9 below regard­ resolutions, the Trustee shall deliver to the Railway Com­
ing the Prior Lien bonds reserved against the same obliga­ pany not exceeding $500,000 of tire general mortgage bonds,
tions. They differ, however, in this, that $1,250 par value and after the first $500,000 shall have been delivered it may
of general mortgage bonds may be sold to each $1,000 of said deliver additional bonds, but not exceeding the amount
obligations, matured or maturing, and that not less than 80 which shall have been actually used, so that the Railway
per cent of the par value of the general 4s must pass through Company shall at no time hold as an advance more than
the hands of the Trustee and be used to discharge the obli­ $500,000 par value of the bonds reserved for the purposes
specified in this section.
gations named.—Eds.]
But before delivering any bonds in addition to the first
None of said reserved bonds shall be applied to the pay­
ment of any of said equipment bonds or car trusts unless the $500,000, or paying over any cash deposited with it under
equipment shall be so held that upon payment in full of the provisions of this section, the Trustee shall, in each in­
all the obligations issued in respect thereof the title to such stance, require the Railway Company to furnish, in addition
equipment shall become vested in the Railway Company, or to the resolutions of its board of directors, a certificate of
a company of whose capital stock the greater part shall then some person stating:
be owned and be subject to this indenture.
The amount actually used ot the General M ortgage bonds previously
IF PRTOR LIEV BONDS A R E ISSUED TO R E TIR E SAID OBLI­
GATIONS, GENERAL MORTGAGE
BONDS (OF THE
$15,500,000) SHALL BE RESERVED THEREFOR,
$1,250 FOR EACH $1,000 ISSUED,

No bonds shall be delivered under this section in respect
of any outstanding obligation in respect of which Prior
Lien bonds shall have been delivered as provided for in
Section 9 of this Article ; but in case any of the outstand­
ing obligations mentioned in this Section shall be acquired
or redeemed by the issue o f Prior Lien Bonds as provided in
said Section 9, then the amount of General Mortgage bonds
which could have been issued under this section (namely,
$1,250 par value of general mortgage bonds for each $1,000
of such obligations), shall be reserved for the purpose of
redeeming Prior Lien Bonds as provided in Section 6 hereof.
GENERAL M ORTGAGE BONDS FOR $30,000,000 TO BE USED
F O R IM PROVEMENTS, EXTENSIONS, A DDITION AL
TERM INALS, SECOND TRACK, ETC.
Sec. 5. Of the remainder o f the General Mortgage bonds,

delivered, or their proceeds, or of other funds of the Railway Com ­
pany, since the date o f the last preceding certificate, fo r any o f said
purposes, specifically indicating every such acquisition or construc­
tion o f side-tracks, second-tracks, spur-tracks, or other additions, bet­
terments, improvements, terminals, branches, extensions, rolling
stock or other property, and every acquisition o f stock, bonds and in­
debtedness of any com pany owning any such term inals, branch line or
extension (which stock, bonds and indebtedness shall he acquired only
when at least a m ajority o f the entire capital stock o f such com pany
shall have been, or shall be thereby, obtained), giving in detail the
amount in bonds or cash expended for each such purpose, and stating
whether any such construction or acquisition was in the name o f the
R ailw ay Company or for account o f any other com p a n y ;
In case o f the acquisition or construction of any branches, extensions
or other new property, such certificate shall further state whether the
property is believed to be subject to any lien or charge, excepting any
undetermined liens or charges incident to construction. A nd in case
any shares o f stock, bonds or other indebtedness o f any other com pany
shall have been so acquired, such certificate shall state whether such
other com pany is believed to he indebted (except to the R ailw ay Com­
pany) in any amount, in addition to the indebtedness of such com pany
then acquired, specifying the amount of any such debt, b en on its
property or charge believed to exist.
(b) That the price paid was not in excess o f the fair value o f the
work done or property acquired, and that the General M ortgage bonds
included in such certificate were disposed of for not less than their
fair m arket value, aud
(e) That o f the expenditures no part has been reimbursed out of any
of
other bonds or m oneys received under this m ortgage.

$30,000,000 (less such portion as shall be reserved to be
delivered, as provided in Section 6 of this Article) shall be
used only for the following purposes, viz :
(a)
. The construction or acquisition after Jan. 1, 1896,
additional side-tracks, second-tracks, spur-traeks, terminals,
Every such certificate, unless signed by the President, or a
or other additions to, or improvements upon, the lines of
Vice-President and by an Auditor, or the Treasurer, or Assist­
railway, terminals or other properties.
ant
Treasurer, or Chief Engineer of the Railway Company,
Provided that such railways, terminals, etc., shall then
belong to the Railway Company and be subject to the lien shall be accompanied by a written statement of two such
of this indenture, or shall belong to any of the com­ officers that they believe such certificate to be true; and
panies specified in subdivisions B, C and E o f the granting there also shall be delivered to the Trustee (1) the certifi­
clause of this indenture, or to any other company of whose cates for any share of stock, and any bonds or other securi­
capital stock the greater part shall then belong to the Rail­ ties acquired by the use o f bonds reserved, and (2) such con­
way Company, or be held in trust for it, and be pledged or veyances as may be necessary to subject to the lien of this
assigned to the Trustee hereunder, and provided such company indenture any new property so acquired.
shall not be in default in the payment of any of its indebt­ OF TH E $3,000,000 Y E A R L Y , SUFFICIENT BONDS SHALL BE
RESERVED TO RE TIR E ALL LIENS ON PRO PE R TY
edness other than those held by the Railway Company.
ACQUIRED.
(b)
. The construction, after June 30th. 1896, of terminals,
branches or extensions of any of such lines of railway, or
The Trustee shall set apart, out of any bonds which could
the acquisition after that date o f the paid-up shares of the then be delivered within the authorized issue per annum, an
capital stock and bonds and other indebtedness of any cor­ amount thereof equal at par to the amount o f the indebted­
poration owning any such terminals, branch or extension ness existing on branches, extensions and property so
(provided a majority of the stock of such corporation shall constructed or acquired. In case any such indebted­
have been obtained, or shall be thereby obtained).
ness shall bear interest at a rate higher than 5 per cent per
(c)
. The construction or acquisition after June 80th, 1896,
annum, then they shall, for the purposes o f this Section 5,
of additional rolling stock which shall be assigned to the be deemed to be equal to a sum which at 5 per cent per
Trustee and become subject to the lien of this indenture ; annum would produce the same amount of interest.

A pril 18, 1896.]

THE CHRONICLE,

735

OF THE s:iO,000,000 BONDS A CURTAIN AMOUNT TO BE RE­
SERVED TO TAKE Ul* ALL PRIOR ELEN BONDS ISSUED
UNDER SECTIONS 3 AND 9,
S e c . 6. There sh a ll be deducted from the bonds reserved

or betterments are to be constructed or acquired as afore­
said; together with a written approval of the issue o f such
reserved bonds, signed by not less than a majority o f the
whole board of directors of the Railway Company," and also
by two-thirds of the following named persons: Edward
King, R. Somers Hayes, Edward N. Gibbs, George G. Haven,
Adrian Iselin, Jr., and Victor Morawefcz, all o f the city of
New Fork: Robert Fleming and C. Sligo de Pothonier, of
London, and Johannes Luden, o f Amsterdam.

The Trustee shall deliver General Mortgage bow ls to the amount
which the Railway Company has agreed to trlve, in exchange for the
Prior Lien bonds so tendered: but not more than $1,250 par value of
such General Mortgage b ow s shall be delivered for each $1,000 par
value o f Prior Lieu bonds received by the Trustee. The Prior Lieu
bonds so received shall tie canceled.
Tha Railway C«m»j»*uv mat sed any o f the General Mortgage bonds
(oservel under this Section 6 at a price not less than 80 por eent of
their par valne. provided that the Trustee -halt receive the net pro­
ceeds of sale and -hull apply them only to the purchase or payment of
Prior Lien bauds at not above 103 per cent of their par value, or to
the redemption of such bonds as provided in Article Twelve. Trior
Lien bond! so purchased or redeemed shall be forthwith canceled.
COMPANY COVENANTS TO SELL SAID GEN. MORT BONDS
SO t ESKRVEP WHEN POSSIBLE AT 90 OR BETTER THAT
THE TRUSTEE MAY REDEEM PRIOR LIEN BONDS.

AFTER FEB. I, 1897. THEY MAY BE ISSUED ON RESOLUTION
OF A MAJORITY OF ALL THE PREFERRED STOCK AND
OF ALL COMMON STOCK REPRESENTED AT MEETING,

under Section 4 of tills Article §1.230 par value o f General
Mortgage bonds for each $1,000 par value of Prior Lien bonds,
if any. delivered under Sections 8 and 9. The bonds so
deducted shall, when called for by resolution of the board
of directors of the Railway Company, be delivered by the
Trustee as follows only, viz.:

After Feb. 1st, 1897. the Trustee may deliver said bonds
on receipt o f a certified copy o f a resolution adopted by th e
holders of a majority of all the shares o f the preferred stoc k
of the Railway Company, and with the consent of the
holders of a majority ot' such part of the common stock as
shall be represented at such meeting with a copy of a
resolution of the board of directors of the Railway Company,
signed by a majority of such board, setting forth specifically
the purposes for which such bonds are to be applied.
The Railway Company covenants that any bonds delivered
under this Section shall be used only for the specific pur­
The Railway Company covenants that, whenever it shall poses set forth in the resolutions. Any and all stocks,
receive a binding offer for not less than §100,900 par value of bonds, railroads or other property which shall be acquired
the General Mortgage bonds reserved under this Section 6. at shall forthwith be transferred to the Trustee.
not less than 90 per cent o f their nar value, and .accrued in­
LIEN BONDS—PRIOR TO DEC. 1, 1900, *5,000.000 MAY BE
terest, in cash, it will, within not less titan ten days sell such PRIOR
ISSUED SOLELY FOR IMPROVEMENTS OR OTHER
bonds at that or a better price, anil will cause the proceeds
NECESSARY PURPOSES. PROVIDED GENERAL
MORTGAGE BONDS CANNOT BE SOLD AT SO.
to be paid to the Trustee for the purchase and redemption of
Prior Lien bonds as above provided.
S f.c. 8. Of the Prior Lien bonds $5,000,000 may be issued
GENERAL MD .TGAGE BANDS FOB *>n,0O0,0o« RESERVED TO prior to December 1st. 1900, when required for the improve­
ACQUIRE ALL OR ANY PART OP ST. LOUIS A- SAN
ment o f any o f the properties embrace 1 in the system o f
FRANCISCO RY . ATLANTIC A PACIFIC IIR.
railways which shall belong to the Railway Company and b e
AND COLORADO MIDLAND HR.
subject to yie lien of this indenture, or which shall belon g
S ec. 7. Of the General Mortgage bonds $20,000,000 shall be toany of the companies specified in subdivisions B, C a n a
used only for the following purposes, viz.:
E of the granting clause o f this indarcure, or to any othe r
{at For the acquisition of all or any portion o f the railroad company o f which not less than 93 per cent o f the capita 1
and property now embraced in the system of the St. Louis & stock shall belong to the Railway Company and for any cthe r
San Francisco By. Co., free from any charges thereon in necessary purposes of the Railway Company, but not for th e
excess of charges prior in lien to the consolidated mortgage construction or acquisition of any branch, or extension, o r
of said company dated June 11th, 1891, except charges for new property or the acquisition o f stocks or bonds.
which an equivalent amount o f these General Mortgage
The Prior Lien bonds reserve 1 under this section shall be
bonds shall be reserved and receivers' indebtedness.
delivered by the Trustee only as follows, viz.:
{h) For the acquisition o f the railroad and property o f the
Such bond* shall he delivered only when called fo r by resolution o f
Atlantic & Pacific KR. Co., or any division thereof, free
board of directors of the Railway Company, approved In writing
from any charges thereon except charge* for the redemption the
by two thirds o f all the members of the hoard, stating that snob bond s
o f which an equivalent amount o f these General Mortgage will he. steed for purpose* antboiizod by this Section, specifying *tto h
imrim -es. and also -tatlng that no u neral Mortgage hoods can then
bonds shall be reserved and receivers’ indebtedness.
oc delivered lor those purposes un let- Soot ion 5 of this Article, or that
ft) For the acquisition o f the railroad and property o f the such
Geuend Mortysee bonds cannot then be sold at 80 per cent o f their
■Colorado Midland R.R. Co., free from any charge-, thereon pur value, and accrued Interest- Such resolution shall be accompanied
except charges for the redemption of which an equivalent by a cartlttcat*. signed by at least two ortloer* o f th# Railway Com­
one of whom shall bo the General Auditor or the Treasurer or
amount of these General Mortgage bonds shall be reserved pany,
Assistant Treasurer, *t rtlng that all bonds previously delivered under
and receivers' indebtedness.
this A ction have bean used for neeeavMjr p irposes And specifying in
id) For the acquisition o f the now existing obligations o f detail the amount used for each such purpose.
any o f the said companies, or o f stocks and bonds, o f any PRIOR LIEN BONDS FOR *12,000,000 RESERVED TO RETIRE
successor companies which shall own any o f such railroads
GUARANTY FUND NOTES AND EQUIPMENT OBLIGATIONS
NOT ACQUIRED WITH GENERAL MORTGAGE BONDS.
and properties, free from any charges thereon except as
S
ec. 9. Prior Lien bonds for §12,0311,00) shall by r.Mervad
aforesaid, in such amounts as. in the opinion o f the Railway
Company, shall vest in it satisfactory control o f the opera­ for th ■acquisition or for tit* re lemption o f the following
tion of any of said railroads and properties.
obligations now outstanding, except u> far as th : sam;> shall
OR TO CONSTRUCT A R *AD IN PLACE OP THE ATLANTIC A have been acquire 1 or redeem.? 1 by th * ins of General Mort­
p a c if ic , w e s t e r n d iv is io n .
gage bond* or their pro •••:-,D under S mtion 4 hereof, viz.:
(e) In ease control of the railroad and property o f the At­ Atchison Topeka A-Santa t-VER, Guarantee Fund notes
due 1S-..H........ ........................... ............................................... *9,000,000
lantic & Pacific KR. Co., or the so-called Western Division
Equipment bonds, series A. dated March I, 1.392,
thereof, shall not he acquired, then for the construction or Do.o udo.
e u n tition .Liu. 1. 1893. t" . . .
. . . ---- —..................
1,750,000
the purchase of another lint* of railroad, or for the acquisi­ Other now existing Far Trust obligation- of said railroad
eontpany’ s -v-ieirt tu an amount not exceeding............. . 1,270,411
tion o f all the bands and shares o f stock o f a cnnqtanv own­
ing. or organize 1 for the purpu-s •o f constructing, a railroad
Total ............... ....................................................................... $12,020,414
connecting the Southern California Hallway with tie- rail­
The Prior Lien txmds so reserved shall on resolution o f the
road in New Mexico owned by the Railway Company.
board of directors, or o f the executive committee of the
OR IF THE ATLANTIS A PACIFIC. WESTERN D lVIstO k, BUSKRailway Company, be delivered as follows, v iz :
CUBED, T<> BUILD A ROAD FROM THE NEEDLES TO

SOUTHERN <CALIFORNIA. REPLACING THE LINE
LEASED FROM THE SOUTHERN PACIFIC HU.

Tha Tm-toe ,m tender to It of any such outstanding obligation*, or
upon satisfactory evhlidi-*- that any of such car fu s ts maturing on or
before
Jan 1, i -00, but after Jan. I. 1895, havu been paid, shall
( f ) In 'ii-e the railroad amt property of tin* Atlantic &
an equal amount of the Prior Lieu bonds.
Pacific KR. Co., or the Western Division thereof, or bonds, deliver
On or after the maturity of any such obligation*, or within six
or .stocks and bonds, representing satisfactory control month* before their maturity, the Railway Company may sell and the
thereof, as above provided, shall be acquired, then for the Trmdee may deliver an amount of the Prior Lien bond- equal at pur to
amount of such obligation* purchased, or so maturing: proeided
purchase or construction of a railroad, or for the acquisition the
however, that Die Railway Company shall simultaneously deposit with
o f all the bond* and stock of a company owning, or organ­ the Trustee in rec-haugc therefor a sum in cash equal to the par amount
ized for the purpose of constructing, a railroad connecting of the bond* delivered.
From the cash so receive! the Trustee, - ’mil pay over to the Railway
the said Western Division o f the Atlantic & Pacific HR. Co. Company
a sum equal to the amouut expended In the purchase <>£ any
at or n-ar Tie* Needles with the railway of the Southern such outstanding lujnds or obligation* (but not more than the par
amount thereof), upon delivery to the. Trustee ot the, obligation* pur­
California Railway Co.
chased. The remainder of suoh cash shall l>e applied by the Trmteo
UR UP TO *3.000.000 FOR WtASOBKH. SECOND TRACK AND to the payment or purchase at hot above par of any such obligations.

OTHER ADDITION8 To SAID PROPERTIES.

No Prior Lien bonds shall be delivered in respect of obli­
gations in respect- of which General Mortgage bond-3 shall
have been previously certified and delivered under Ssotdon
4 of this Article; and none o f said reserved bonds sh ill be
certified on H'- 'Ottat of the payment of any of'said Equip­
ment Bonds or Car Trurt. obligations unless th * equipment
PRIOR TO FEB. I, 1*97. BONDS OF SAID *20.000.000 MAY BE become vested in th - Railway Company, or in a company
ISSUED ONLY IN CASE A MAJORITY OF THK BOARD OF
of whose capital stock th - greater part shall ba subject to
DIRECTORS AND TWo-Tltlhlis THE JOINT EXECU­
this indenture.
TIVE UK-OKGANIZATIMN COMMITTEE APPROVE.
REGISTERED BONDS WITHOUT COUPONS,
Prior to Feb. 1. 1807, the Trustee may deliver the bonds so
reserved only on receiving a certified copy of a resolution of
S ec . 10. Any coupon bonds amounting to $1,000 or to any
the hoard o f directors of the Railway Company specifying multiple of $L0OO. on surrender to t le Trust:-:: for cancella­
particularly the railroad and property, or the stocks and tion. shall b» epesh mgeabie for a like am .mat of registered
bonds to be acquired or line of railroad to be constructed bond* without coupons. Such registered bonds shall ba for
therewith, or the railroad and property for which additions $1,000, or such convenient multiples thereof as the Railway
For the construction or acquisition o f branches,
spurs, side-tracks, second tracks and other additions to. or
betterments of, any of such railroads, hut the bonds which
may be used for such construction or acquisition shall not
exceed §6,000,000 in the aggregate.
(g . f

736

THE CHRONICLE

Company from time to time may establish. The interest on
registered bonds without coupons shall be paid only to the
several registered holders of such bonds, or upon their writ­
ten orders. Whenever any such registered bonds shall be
surrendered for transfer, the Trustee shall deliver to the
transferee a like amount of new registered bonds upon can­
cellation of the bonds transferred, charging not exceeding
one dollar for each new registered bond issued. The trans­
fer books may, however, be closed upon the dates when in­
terest is payable and for a reasonable time prior thereto.
BOllDS M UTILATED OR DESTROYED M AY BE REPLACED.

In case any bond issued hereunder shall become mutilated
or shall be destroyed, upon the surrender o f anv such muti­
lated bond to the Trustee, or upon filing with the Trustee
satisfactory evidence of such destruction, the Railway Com­
pany upon'receiving indemnity satisfactory to it may in its
discretion issue a new bond bearing the same serial number.
COVENANT TO USE BONDS AS HEREIN PROVIDED.
S e c . 11. The Railway Company shall not issue or dispose

of any bonds hereunder in any manner other tha n in accord­
ance with the provisions of this indenture, and will apply the
same or the proceeds thereof to purposes herein prescribed
and to no other or different purpose.
THIS INDENTURE M ADE SOLELY FOR TH E BE N E FIT OF TH E
P A RTIE S THERETO AND OF THE BONDHOLDERS.
Sec. 12. Nothing in this indenture shall confer upon any

[VOL. LXII.

Railw-ay Company, may, in its discretion, cause the re­
spective mortgages securing the same to be satisfied of
record. The Trustee may also surrender the collateral trust
5 per cent bonds for cancellation, upon receiving in ex­
change therefor the bonds securing the same, as provided in
subdivision E of the granting clause o f this indenture.
CONSOLIDATION OF

COMPANIES WHOSE SECURITIES
PLEDGED.

ARE

S e c . 4. The pledge hereunder of any shares of stock o f any
companies shall not prevent the consolidation or merger of
said companies with or their sale to the Railw-ay Company, or
any other company of whose capital stock not less than 90 per
cent shall then be owned by the Railw-ay Company and be
pledged w-ith the Trustee hereunder. But this indenture
shall immediately be a lien upon the property of any com­
pany so consolidated with, or sold to, the Railway Company,
w-ith the same effect as if expressly conveyed by this inden­
ture. In the event of the consolidation of any such com­
panies with each other there shall be pledged with the
Trustee hereunder such portion of the capital stock o f the
consolidated company (but never less than a majority
thereof) as shall bear to the total capital stock a propor­
tionate relation at least as high as that borne by such
previously pledged stock to the total capital stock of such
constituent companies.
DE FA U LT ON BONDS PLEDGED AS SECU RITY.

S e c . 5. In case of default on any o f the bonds pledged
person or corporation, other than the parties hereto and the
holders of bonds issued under this indenture, any claim un­ hereunder the Trustee shall, upon the written request o f the
der any covenant or stipulation thereof; ah its covenants, Railway Company, in case the Trustee holds more than 90
er cent of the outstanding issue, and in other cases, in its
conditions and stipulations being for the exclusive benefit of
iscretion, cause proper proceedings to be instituted to fore­
the parties hereto and of the holders of bonds hereby secured.
close the mortgage by which such bonds are secured.
ARTICLE TWO.
In case the Chicago Santa Fe & California Railw-ay Co.,
(BONDS TO BE REGISTRABLE IN NEW Y O R K CITY.
or any other company of whose bonds or capital stock, or
The Railway Company will, at its office or agency in the both a part shall be pledged to the Trustee hereunder, shall
City of New- York, keep a register o f bonds issued hereunder, be dissolved or liquidated, or in case its property shall be
which at all reasonable times shall be open to the insjiection sold under foreclosure and the property can be acquired by
of the Trustee ; and upon presentation it will register use of the bonds or stock of such company pledged to the
therin any coupon bonds, and all bonds without coupons, is­ Trustee, w-ithout paying more than 10 per cent of the price
sued under the provisions hereof. When any coupon bond in cash, the Trustee maj- in its discretion, and if requested
is registered no transfer thereof shall be valid unless made in writing by the Railw-ay Company it shall, upon being
on said books by the registered ow-ner or his attorney, and provided with the necessary funds therefor, purchase such
similarly noted on the bond; but the same may be dis­ property, vesting it either in the Railway Company subject
charged from registry by being transferred to bearer, after to the lien of this indenture, or in some other corporation,
which it shall continue subject to successive registrations all of w-hose bonded debt and capital stock (less sufficient to
and transfers to bearer as before. Such registration, how­ qualify directors) shall be assigned to the Trustee subject to
ever. shall not affect the negotiability of the coupons.
the lien hereof.
In any other case the Trustee may in its discretion, upon
ARTICLE THREE,
SECURITIES PLEDGED HEREBY TO BE TRAN SFERRED TO the written request of the Railway Company, purchase the
same and cause the same to be vested as aforesaid.
TRUSTEE.
To protect its interests hereunder the Trustee may, with
S e c . 1. The Railw-ay Company covenants that when the
the
approval o f the Railway Company, join in any plan of
obligations or the certificates o f stock which it has by this
reorganization
in respect of any such bonds or stocks and
indenture assigned to the Trustee shall come into its posses­
sion, it will forthwith transfer the same to the Trustee; ex­ may accept new securities issued in exchange therefor, and
cepting, however, shares necessary to qualify directors. All may pay any assessment required.
The Railw-ay Company covenants to provide for all ex­
coupon bonds so delivered shall be registered in the name
of the Trustee, or stamped: “ Non-negotiable. Held by Union penditures incurred by the Trustee under any of the pro­
Trust Company of New- York, as Trustee, under the General visions of this section, and in case it shall fail to do so, the
Mortgage or deed of trust of the Atchison Topeka & Santa Trustee may advance all moneys required, and have therefor
a lien on the property hereby mortgaged prior to the lien of
Fe Railway Company, dated Dec. 12,1895.”
UNTIL DEFAU LT R A IL W A Y COM PANY SHALL R ECEIVE IN the bonds issued hereunder.
A ny other moneys received by the Trustee as the pro­
COME OF SECURITIES PLEDGED.
S e c . 2. Unless the Railway Company be in default on the ceeds of a sale of any of the bonds, stocks or other property
bonds hereby secured, or unless a receiver or the Trustee subject to this indenture shall be received and paid over by
shall be in possession of the property, the Railway Company the Trustee to the Railway Company and applied as pro­
shall be entitled to receive the interest and dividends in vided in Section 5 of Article One, unless some other use or
respect of all bonds or stocks pledged with the Trustee. Pro­ disposition of such moneys is herein prescribed.
vided, however, as follow s:
ARTICLE FIVE.
<1) That the Trustee shall in no event pay over to the R ailw ay Com-

any interest collected through foreolosu reof any m ortgage securfiany
ng the bonds pledged ; (2) that the Railway Company shall not transfer

any o f such coupons or dividend claim s; and (3) shall not collect any
sucii coupons by legal proceedings, except with the assent o f the
Trustee; and (4) that until actually discharged such coupons and divi
dend claims shall remain subject in all rsspects to this indenture.
AND VOTE ON STOCKS PLEDGED.
S e c . 3. Unless the Railw-ay Company shall be in default or

unless a receiver or the Trustee be in possession of the prop­
erty. the Railway Company shall have the right to vote upon
all shares of stock pledged with the Trustee for all purposes
not inconsistent with the purposes of this indenture; but not
to authorize the increase of the capital stock or the creation
of any indebtedness or any lien, except in the cases provided
for in Article Six h ereof; nor to authorize any consolidation
or sale or lease except in the cases provided for in Articles
Four, Five and Six hereof.
ARTICLE FOUR.
TRUSTEE M A Y PRESE R V E CORPORATE EXISTENCE OF COMPANIES CONTROLLED, ETC.
S e c t io n 1. The Trustee may at any time do whatever may

be necessary for the purpose of preserving the corporate ex­
istence of any companies of whose capital stock the greater
part is pledged witn the Trustee.
S e c . 2 . And if requested by the Railway Company the
Trustee shall consent to the extension or renew-al of any of
the said several bonds pledged at such interest and maturing
at such time as the Trustee may deem reasonable.
S e c . 8. Whenever all o f the outstanding first mortgage
bonds and guarantee fund notes of the Atchison Topeka
& Santa Fe RR. Co. shall have been delivered to the
Trustee hereunder, or paid, the Trustee, upon request of the

R A ILW A Y COMPANY M AY SELL ST. LOUIS & SAN FRANCISCO.
ATLANTIC « PACIFIC, COLORADO M ID LA N D , ETC.,
SECURITIES.

The Railw-ay Company may, with the approval of twotliirds of its board of directors, sell or otherwise dispose of
or deal with, and the Trustee shall release from the lien of
this indenture, any or all of the stocks, bonds or other obliga­
tions, or property, o f the following-named companies now
or hereafter assigned to the Trustee, viz.:
(а) Atchison Topeka & Santa Fe RR. Co. in Chicago.
(б ) Atlantic & Pacific RR. Co.
(c) Colorado Midland RR. Co.
id) St. Louis & San Francisco Railway Co.
(e) St. Louis Kansas City & Colorado RR. Co.
( / ) Sonora Railway Company, Limited.
(3 ) New- Mexico & Arizona RR. Co.
(h) Also any and all shares of the capital stock, bonds, or
other obligations, assigned to or pledged with the Trustee
pursuant to subdivision * . of the granting clause of this
indenture, except shares of stock in companies named in
subdivisions B , C and E .
(i) Also any and all other shares of stock, bonds, or other
obligations, or indebtedness o f any other company of whose
capital stock the greater part shall not have been assigned
to or pledged with the Trustee under this indenture.
The Trustee shall release the securities mentioned in this
article upon receipt of a certified copy of a resolution o f the
board of directors o f the Railway 'Company, approved in
writing by two-thirds of the members of the whole board,
setting forth specifically the price at which the same have
been sold or the purposes for which the same are to be ap­
plied ; but said release shall be upon such trusts or conditions

A pril 18, 1896.]

THE CHBONICLE.

737

tion, pay the same and have a lien upon the m ortgaged
premises for its advances, w ith interest.

as will, in the ju dgm en t o f the Trustee, ensure the applica­
tion thereof to the purposes set forth and the delivery o f the
proceeds to the Trustee.
The right o f the Railw ay Com pany to sell or otherwise
dispose of the stocks, bonds or other obligations or property
m entioned in this article sliail cease in case a resolution re­
leasing said right shall be adopted by tw o-thirds o f its board
o f directors, and a copy thereof duly signed shall be delivered
to the Trustee,

A FTER-ACQU IRED P R O PE R TY.
S e c , 8. A ll property o f every kind w hen hereafter acquired

out o f bonds or the proceeds o f bonds, secured by this inden­
ture, or otherwise pursuant, to the provisions hereof, shall,
w ith ou t any other conveyance im m ediately be su bject to the
lien o f this indenture. The Railw ay Com pany at all times
w ill deliver all such further assurances as the Trustee may
APPLICATION OF PROCEEDS.
reasonably require for the purpose o f su bjectin g the same to
The Railw ay Com pany covenants that an y shares o f stock, the lien o f this indenture.
bonds or obligations released under tins article shall be ap­
A R TIC LE EIGHT.
plied only for the specific purposes set forth in th e resolu­
RELEASE OF P R O PE R TY FROM LIEN HEREOF.
tions pursuant to w h ich the same shall have been released,
and the proceeds o f any sale, whether cash, stocks, securities
On the w ritten request o f the R ailw ay Com pany w ith a
or other property, shall forth w ith becom e su b ject to the lien copy o f a resolution o f its board o f directors or executive
o f this indenture and be transferred to the Trustee hereunder. com m ittee approving such request, the Trustee, from tim e
The proceeds o f any sale or other disposition o f th e capital to tim e, shall release from the lien o f this indenture any
stock, bonds or other obligations o f the A tchison Topeka & premises acquired for stations, depots, shops or other bu ild­
Santa Fe RR. Co. in Chicago, or o f any portion o f its property, j ings or erections, or for the supply o f gravel, fuel or other
shall he used only for the purpose o f im proving or m aintain­ materials, w hich In the ju dgm en t o f the Railw ay Company
in g terminals situated in the c ity o f C hicago, ow ned by the shall be no longer requisite or expedient to be retained for
Railw ay Company or b y any other com pany o f whose capital use in connection w ith the said m ortgaged premises. Like­
stock not less than 9~> per cent shall be ow ned by the Railw ay wise it may release any parts o f the road w ay w h ich m ay
Com pany and be pledged o r assigned to the Trustee hereun­ have been throw n out o f use by reason o f straightening or
der. Or in case the Railway Com pany, by its President or a alteration o f the line o f road or other causa satisfactory to
Vice-President, shall certify th at such proceeds are not 1the Trustee. But this pow er o f release is to be exercised
needed for that purpose, then in im provin g any other ter- j only in case the Railw ay Company shall dispose o f the prop­
initials similarly ow ned.
erty because no longer required for the uses o f its railroad or
AD other cash received by the Trustee under this article business.
shall be applied by the Railw ay Com pany in the same m an- j The proceeds o f any such sale shall be invested iu the pur­
tier as the proceeds o f the sale o f an y o f the General Mort­ chase o f other property, real or personal, w hich shall be con ­
gage bonds reserved under Section 5 o f A rticle t.
veyed to the Trustee hereunder: or in betterm ents or to
some other w ay, to the benefit o f the m ortgaged premises to
A R TICLE SIX .
the satisfaction o f the Trustee. The substitutes for property
OTHER SECURITIES MOST REMAIN PLEDGED AND BE PRO­ released, ipso fa c to shall becom e su b ject to the lien ot this
TECTED.
indenture, and shall be conveyed to the Trustee b y approp­
S ection I. A s to the securities pledged, except in the riate deeds.
cases m entioned in A rticle Five hereof, the Railw ay Com- j The Railway Com pany may a t an y tim e can cel or make
pany covenants as follow s:
any alterations in, or substitutions o f, an y leases, contracts
faj it will nut tell any bowl or share o f stock now or hecMftet j or trackage rights ow ned b y it, w h ich in its opinion shall be
pledged by it waiter tttl* Indenture nor pledge the same except «tbjec i necessary- but the modified, altered or substituted leases,
to the prior Hen hereof, and It will not by any voluntary act part with contracts, or trackage rights, shall be su b ject to the terms
the ownership o f any o f each bond* or -took, or tee voting power !
thereof, tb> It will hold all stock o f the companies named in sobtli- I o f this indenture.

vision B o f the granting clause of tin* Indenture, ami o f all other
companies o f which the greater part shall have boon pledged hereunder In snob manner that It shall retain In Itself the right* of a m aJorfty shareholder, and that »« such holder o f m eb *took it win nut
permit any Increase of the capital stuck o f any snob company, o »r the
creation of any !adebtedite*« or lien upon It* pfopeity, ante** saeh indehbslne** and Hen* and all additional shares at such stock, or such
part o f such additional shares as 1* proportionate to ths part o f such

capital stock prevtctis'.y pledged hsrettndor, ahull Im tM iM tli he

or assigned to the Trustee, subject- to all the trust* o f this Intlodged
entnre, is) That a* such bolder o f such utook tt will not permit anv

A R TICLE NINE.
j
j COUPONS P LE D G E D A P A R T FROM BONDS TO HAVE SUB
I
O R D IN A T E LIEN.
S e c t io n 1. N o interest obligation b elon gin g to any bond
hereby secured w hich on or after m aturity shall be trans­
ferred or pledged apart from its bond shall be entitled to
t any benefit from this indenture, except su bject to the prior
paym ent in full o f the principal o f all bonds issued here­
under. and o f all coupons and interest obligations not so
transferred o r pledged.

!

com pany to dispose at its railroad o r lease the same (Holes* m o b lease
bo term inable by foreclosure o f this m ortgage), except to the Railway
Company, o r to som e other earn pan r o f whose capital stock not !«<**
ON DEFAULT FOR BO DAYS TRUSTEE M AY T A K E POSSESSION.
than SO per cen t shaft tben'be pledged tn the Trustee hereunder. How
ever, nothing herein contained shall prevent the sale o f any Interest In :
S e c . 2. In ease o f default for ninety days in the payment
the D enver Circle Railway.

o f any interest on any o f the bonds hereby secured: or in the
The Railw ay Conqiany further covenants that all its I jiaym ent o f the principal when d u e ; or for ninety days in
claim s (other than securities pledged or assigned to the i the observance o f any covenant herein a fter, the" Trustee
Trustee hereunder) against an y com pany o f whose capi-| shall have requested the Railw ay Com pany to observe such
tal stock the greater jwirt shall have been pledged here­ c o v e n a n t; then and to ev ery such case the Trustee may
under shall be su bject to the Hen o f this indenture. Rut enter upon the property and franchises hereby conveyed and
unless the Railw ay Com pany shall be to default hereunder manage said railw ays personally or b y its receivers.
or unless a Receiver o f the property or the Trustee shall be
D E F A U L T -A P P L IC A T IO N OF INCOME, Ac.
in possession, the Railway Com pany‘shall be entitled to c o l­
A
fter
such
en try the Trustee, at the expense o f the trust
lect, for its own use, any such claim out o f the earnings of
the com pany liable thereon, but on ly w ith the consent o f estate, may m aintain and restore, and insure or keep in ­
the Trustee, and in a manner not prejudicial to the trust sured, the rolling stock and other property, buildings, bridges
and structures to the same extent as is usual w ith railw ay
hereunder.
companies, and likewise may make all necessary or proper
repairs, useful alterations, additions and im provem ents in
ARTICLE SEVEN.
respect o f the rollin g stock or equipm ents and the railways
BONDS TO BF. T A X EXEM PT AND COUPON* PA ID TO BE
and appurtenances as may seem ju diciou s. And it shall
CANCELED.
S e c t io n 1. The Railw ay Com pany shall punctually pay apply tim incom e from the trust estate, after dedu ctin g ex ­
the principal and interest o f the bonds secured h'erebr penses o f operating, repairing and im proving the property,
‘ w ithout deduction from either principal or interest for any and all taxes, and oth er proper charges, as foD ow s:
(»> In
the principal at the P rior Lien bonds hereby secureilahall
ta x or taxes w hich it may be required to pay or retain there­
from under or by reason o f any present or future law ; the not h a v etwjoomo due. to the payment o f the Interest rem aining in de­
fault In the order o f the m aturity o f sneli interest, tin t, upon all Prior
Railway Com pany agreeing to pay any such tax or taxes.” Lieu bonds, and after satisfaction thereof, then upon nil General Mort­
"A ll coupons, when paid, shall forthw ith be can celed .”
gage bond*, and next, If the principal o f the General M ortgage bonds
GENERAL MORTGAGE BOND* TO H AVE AN ADDITION AL
COUPON SHEET A FTE R OCT. 1, 11)15

Upon presentation o f any o f the General M ortgage coupon
bonds on or after Oct. 1, IW5, the Railway Com pany w ill
cause to be attached thereto sheets o f coupons representing
the interest instalments to become due upon such bonds
after that date to maturity.
TAXES AND A8HKHSMKNTB ON TH E PROPERTY" MUST BE PAID.

shall have becom e due by declaration o r otherwise, to the paym ent o f
the p rin cipal o f all General M ortgage bonds, ratably to the parties
entitled thereto without discrimination : but,
lb) In ease the principal o f the Prior Lien bonds shall have
becom e dun by declaration or otherwise, tin t, to the paym ent o f the
accrued interest in the order o f the m aturity o f the instalments thereof,
upon all Prior Lien bond-, and next, to the payment o f the p rin cip a l of
» u Prior Lien bonds, and, after satisfaction thereof, to the paym ent iu
like m anner o f the Interest accrued upon all General Mortgage bonds,
and dually to the paym ent o f tho principal o f all General Mortgage
bon ds; such payments to be made ratably to the parties entitled to
such payment without, any discrim ination I
U p o n a n v s u c h default, t h e Trustee s h a ll vote o n a ll s h a re s
o f s t o c k p le d g e d and collect a ll in t e r e s t m o n e y s a n d d i v i ­
d e n d s p a y a b le t h e r e o n ,
DEFAULT TRUSTEE M AY SELL TH E P R O PE R TY OR BRtNG
FORECLOSURE SUIT.

S ec . 2. The Railw ay Company shall pay all taxes, assess­
ment* and governm ental charge* law fully imposed upon the
lines of premises hereby m ortgaged, or upon the incom e
Bud profits thereof, the lien o f which would be prior to the
lien hereof. And it shall not suffer a n y m echanics’ or other
Hen whatsoever upon the m ortgaged premise* w hich would
be prior to the lien o f these presents. If an y com pany, o f
SEC. 8. In case o f default as stated in Section I, the Trus­
whose capital stock the greater part shall be pledged with tee in its discretion (a) may sell to the best bidder, in one lot
the Trustee hereunder (except the com panies m entioned in and as an entirety, all and singular the m ortgaged premises,
A rticle Five;, shall fail to pay all its taxes, assessments and bonds and stocks, etc., at public auction at Topeka, K an.,
bens, the Railw ay Company w ill itself pay and discharge the or at such other place on the railroad hereby mortgaged
same. L pon default so to do the Trustee may, in its discre- and upon such terms as may be specified in the n otice of

THE CHRONICLE.

738

s a le ; o r ( b ) m a y p r o c e e d t o e n f o r c e t h e r ig h t s o f b o n d ­
h o ld e r s b y s u it s in e q u it y o r a t la w , w h e t h e r f o r th e s p e c ific
p e r fo r m a n c e o f a n y c o v e n a n t o r f o r t h e f o r e c lo s u r e o f th is
in d e n t u r e , o r f o r th e e n fo r c e m e n t o f a n y o t h e r a p p r o p r ia t e
le g a l o r e q u it a b le r e m e d y a s t h e Trustee", b e i n g a d v is e d b y
c o u n s e l le a r n e d in t h e la w , s h a ll d e e m m o s t e ffe c t u a l.
N o t ic e o f s a le p u r s u a n t t o a n y p r o v is io n o f t h is in d e n t u r e
s h a ll b e p u b lis h e d o n c e a w e e k f o r s i x s u c c e s s iv e w e e k s in
n e w s p a p e r s in T o p e k a , N e w Y o r k a n d B o s to n .
FORECLOSURE SALE TO BE SUBJECT TO P R IO R LIEN BONDS
UNLESS TH E Y TOO ARE IN DEFAULT.
P rovid ed , nevertheless, t h a t u n le s s t h e r e b e s o m e s u b s is t in g
d e f a u lt in th e p a y m e n t o f th e in t e r e s t o r p r in c ip a l o f s o m e
o f th e P r io r L ie n b o n d s , o r u n le s s t h e p r in c ip a l o f th e P r io r
L ie n b o n d s s h a ll h a v e b e e n d e c la r e d d u e , a n y fo r e c lo s u r e o r
s a le o f t h e m o r t g a g e d p r e m is e s u n d e r t h e t e r m s o f th is
m o r t g a g e s h a ll b e m a d e s u b j e c t t o t h e lie n o f t h e P i i o r
L ie n b o n d s , a n d s h a ll n o t a f f e c t t h e lie n o f s a id b o n d s o r
p r e c ip it a t e t h e m a t u r i t y t h e r e o f .
FORECLOSURE A PERPETU AL B AR.
SEC. 4. U p o n a n y s u c h s a le t h e T r u s te e m a y d e li v e r t o th e
p u r c h a s e r s g o o d a n d s u ffic ie n t d e e d s f o r th e p r o p e r t y ; a n d
a n y s u c h sa le s h a ll b e a p e r p e tu a l b a r a t la w a n d in e q u it y
a g a in s t t h e R a ilw a y C o m p a n y a n d a g a in s t a ll p e r so n s a n d
c o r p o r a t io n s c l a i m i n g o r t o c l a i m b y , t h r o u g h o r u n d e r it .
FO RCLOSU RESALE MAKES P R IN C IPA L DUE.
S e c . 5. I n c a s e th e s a le s h a ll n o t b e m a d e s u b j e c t t o th e
lie n o f t h e P r io r L i e n b o n d s , a ll t h e b o n d s o f b o t h issu e s
h e r e b y s e c u r e d , i f n o t p r e v io u s ly d e c la r e d d u e , s h a ll a t o n c e
b e c o m e d u e a n d p a y a b le . I n c a s e o f a n y s a le s u b j e c t t o th e
lie n o f t h e P r io r L ie n b o n d s , t h e p r in c ip a l o f a l l th e g e n e r a l
m o r t g a g e b o n d s s h a ll a t o n c e b e c o m e d u e a n d p a y a b le .
APPLICATION OF PROCEEDS OF SALE.
S e c . 6. T h e p r o c e e d s o f s a le s h a ll b e a p p lie d a s f o l l o w s :
First. To tlie paym ent ot t i e expenses o f such sale, including a rea­
sonable compensation to the Trustee, and o f all liabilities incurred in
m anaging the property hereby conveyed.
Second. If such - ale shall not have been made subject to the lien of
the Prior Lien bonds, then to the paym ent o f the whole am ount then
due and unpaid upon the Prior Lien bonds hereby secured for prin ci­
pal and interest, together with interest on overdue instalments of in­
terest, and tlie balance to the paym ent o f the General Mortgage bonds
hereby secured for principal and interest, together with interest on
overdue instalments o f interest. But if such sale shall have been
made subject to the lien o f t i e P rior Lien bonds, then to the paym ent
o f the principal and interest o f the General Mortgago bonds hereby
seoured, together with interest on overdue interest.
I f such proceeds shall be iusuliioient to make paym ent in full then
the principal and interest shall be paid without preference or p riority
o f principal over interest, or interest over principal, or o f any instal­
m ent o f interest over any other instalm ent o f interest.
The foregoing pro visions aro, however, in each case subject to the
provisions o f Section 1 o f this A rticle and it is hereby expressly de­
clared that tlie Prior Lion bonds shall in any event be first paid in full,
both principal and interest, before any paym ent sball be made upon
the General Mortgage bonds for principal or interest, unless such sale
shall have been made subject to rights o f the Prior Lien bond.
THE P R O PE R TY TO BE SOLD ONLY AS AN E NTIRETY.
S e o . 7. I n th e e v e n t o f a n y s a le p u r s u a n t t o a n y p r o v is io n
h e r e o f, t h e w h o le o f t h e p r o p e r t y h e r e b y p le d g e d s h a ll b e
s o ld in o n e p a r c e l a n d a s a n en tirety, i n c l u d i n g a ll t h e r ig h t ,
t it le s , e s ta te s, r a ilr o a d s , e q u ip m e n t , fr a n c h is e s , le a se s, le a s e ­
h o ld in te r e s t s , c o n t r a c t s , s t o c k s , b o n d s , a n d o t h e r r e a l a n d
p erson a l p ro p e rty o f e v e ry n a m e a n d n atu re.
BONDS AND COUPONS M AY BE USED IN SETTLEMENT.
S e c . 8. A t a n y s a le h e r e u n d e r t h e p u r c h a s e r s in m a k in g
p a y m e n t s h a ll b e e n t it le d t o t u r n i n a n y b o n d s a n d a n y
m a t u r e d a n d u n p a id c o u p o n s h e r e b y s e c u r e d , e s t im a t in g t h e
v a lu e o f s u c h b o n d s a n d c o u p o n s a t t h e s u m p a y a b le o u t o f
th e n e t p r o c e e d s o f s u c h s a le t o t h e h o ld e r s t h e r e o f a s t h e ir
r a t a b le s h a re o f s u c h n e t p r o c e e d s .
TRUSTEE'S

E IG H T

TO ENTER AND TO H A V E RECEIVERS
APPOIN TED, ETC.
S e c . 9. U p o n c o m m e n c e m e n t o f a n y p r o c e e d in g s t o e n ­
f o r c e a n y r ig h t u n d e r t h is in d e n t u r e , t h e T r u s te e s h a ll b e
e n t it le d t o e x e r c i s e t h e r i g h t o f e n t r y h e r e in c o n f e r r e d , a n d
u p o n t h e o c c u r r e n c e o f d e f a u l t a s a fo r e s a id t o th e a p p o in t ­
m e n t o f a r e c e iv e r o r r e c e iv e r s o f t h e p r e m is e s h e r e b y
m o r t g a g e d , a n d o f t h e in c o m e t h e r e o f , w i t h s u c h p o w e r s as
t h e C o u r t m a k i n g s u c h a p p o in t m e n t s h a ll c o n f e r ; p rovid ed ,
how ever, t h a t th e T r u s te e s h a ll b e e n t it le d a t- a ll tim e s to
h o ld a s p le d g e e t h e s t o c k s , b o n d s a n d o t h e r s e c u r it ie s
p le d g e d o r a s s ig n e d t o i t h e r e u n d e r .
RA ILW A Y' COMPANY’ S R IG H T TO SU RREN D ER P R O PE R T Y TO
TRUSTEE.
T h e R a i l w a y C o m p a n y , w h e n e v e r i t s h a ll d e e m i t e x p e ­
d ie n t f o r t h e b e t t e r s e c u r i t y o f t h e b o n d s , a lt h o u g h t h e r e
m a y b e th e n n o d e f a u l t e n t i t l i n g t h e T r u s te e t o p o s s e s s io n ,
m a y , w i t h t h e c o n s e n t o f th e T r u s te e , s u r r e n d e r t o th e T r u s ­
te e t h e w h o l e o r a n y p a r t o f t h e p r o p e r t y h e r e b y c o n v e y e d
f o r a n y p e r io d , f ix e d o r in d e fin it e .
W AIV E R OF EXTENSION, ETC., LAWS.
Sec. 10. T h e R a ilw a y C o m p a n y w a iv e s a ll b e n e fit a n d a d ­
v a n t a g e o f a n y e x t e n s io n , s ta y , a p p r a is e m e n t o r r e d e m p ­
t io n la w s n o w o r h e r e a ft e r in f o r c e ; a n d it a g r e e s t h a t i t w ill
im p e d e t h e e x e c u t io n o f a n y p o w e r h e r e in g r a n t e d .
REQUEST OF 25 PE R CENT OF T H E BONDS NECESSARY TO
REQUIRE ACTION HEREUNDER.
S ec. 11. No holder of any bond or coupon shall have the

right to institute any action in equity or at law for the fore­
closure of this indenture or for the appointment of a re­
ceiver or for any other remedy hereunder unless the holders

[V oc. LX11.

o f 25 p e r c e n t in a m o u n t o f th e th e n o u t s t a n d in g b o n d s o f
e it h e r o f th e is s u e s o f b o n d s h e r e b y s e o u r e d , in c a s e t h e
d e f a u lt b e in t h e p a y m e n t o f a n y in t e r e s t o r p r in c ip a l o f a n y
o f th e P r io r L ie n b o n d s , o r t h e h o ld e r s o f 25 p e r c e n t o f t h e
t h e n o u t s t a n d in g G e n e r a l M o r t g a g e b o n d s in c a s e o f a n y
o t h e r d e f a u lt , s h a ll h a v e m a d e w r it t e n r e q u e s t o f t h e T r u s ­
te e , a n d s h a ll h a v e a ffo r d e d it r e a s o n a b le o p p o r t u n i t y t o
e x e r c is e t h e p o w e r s h e r e in b e f o r e g r a n t e d ; it b e in g in t e n d e d
t h a t n o h o ld e r s o f b o n d s o r c o u p o n s s h a ll e n f o r c e a n y r i g h t
h e r e u n d e r e x c e p t in t h e m a n n e r h e r e in p r o v id e d , a n d f o r
t h e e q u a l b e n e fit o f a ll o u t s t a n d in g b o n d s a n d c o u p o n s .
REMEDIES H EREIN A R E A D D ITIO N A L TO ALL O TH ER REM E­
DIES ALLOWED B Y LAW.
E x c e p t a s h e r e in e x p r e s s ly p r o v id e d t o t h e c o n t r a r y , e v e r y
r e m e d y h e r e in c o n fe r r e d s h a ll b e in a d d it io n t o e v e r y o t h e r
r e m e d y g iv e n a t la w o r in e q u it y o r b y s t a t u t e .
A M AJORITY OF ALL THE BONDS M A Y CONTROL FORECLOS­
URE PROCEEDINGS, ETC.
S e c . 12. T h e h o ld e r s o f a m a j o r i t y in a m o u n t o f a ll t h e
b o n d s h e r e b y s e c u r e d a n d t h e n o u t s t a n d in g s h a ll h a v e t h e
r ig h t t o d ir e c t a n d c o n t r o l a ll p r o c e e d in g s f o r s a le o f t h e
p r e m is e s h e r e b y c o n v e y e d , o r f o r t h e a p p o in t m e n t o f a r e ­
c e iv e r , o r a n y o t h e r p r o c e e d in g s h e r e u n d e r , a n d t o in s t r u c t
t h e T r u s te e t o c o n t in u e o r t o d is c o n t in u e a n y s u c h p r o c e e d in g s
h e r e u n d e r ; p rovid ed , h ow -ver, t h a t u n t il in s t r u c t io n s s h a ll
h a v e b e e n g iv e n t h e T r u s te e m a y , in it s s o u n d d is c r e t io n ,
e x e r c is e a n y r ig h t h e r e b y c o n f e r r e d ; an d p r o v id e d fu r t h e r
t h a t s o lo n g a s t h e r e s h a ll b e a s u b s is t in g d e f a u lt in t h e
p a y m e n t o f t h e p r in c ip a l o r in t e r e s t o f P r io r L ie n b o n d s
h e r e b y s e c u r e d , t h e T r u s te e s h a ll b e e n t it le d , in it s s o u n d
d is c r e t io n , t o e x e r c is e a n y r ig h t h e r e u n d e r f o r t h e p r o t e c t io n
c f t h e h o ld e r s o f t h e P r io r L ie n b o n d s .
A R T IC L E TE N .
DEFAULT—ON REQUEST OF 25 PER CENT OF TH E P R IO R
LIEN BONDS OR A M AJORITY OF TH E GENERAL M ORT­
GAGE BONDS P RINC IPA L SH A LL BE D E C LAR E D DU E.
I n c a s e o f d e f a u lt f o r 90 d a y s in t h e p a y m e n t o f a n y i n ­
te r e s t o n a n y o f t h e P r io r L ien b o n d s s e c u r e d h e r e b y , t h e n
u p o n t h e w r it t e n r e q u e s t o f t h e h o ld e r s o f 25 p e r c e n t i n
a m o u n t o f th e P r io r L ie n b o n d s t h e n o u t s t a n d in g , t h e
T r u s te e s h a ll, b y n o t ic e in w r it in g t o t h e R a ilw a y C o m p a n y ,
d e c la r e t h e p r in c ip a l o f a ll t h e P r io r L ie n b o n d s t o b e i m m e ­
d ia t e ly d u e a n d p a y a b le .
I n c a s e o f d e f a u lt f o r 90 d a y s in t h e p a y m e n t o f a n y in ­
te r e s t , o r a n y p r in c ip a l, o f a n y P r io r L ie n b o n d s , o r o f t h e
in t e r e s t o f a n y G e n e r a l M o r t g a g e b o n d s a t t h e t im e o u t ­
s t a n d in g , t h e n u p o n th e w r it t e n r e q u e s t o f t h e h o ld e r s o f a
majority in a m o u n t o f th e G e n e r a l M o r t g a g e b o n d s t h e n
o u t s t a n d in g , t h e T r u s te e s h a ll, b y n o t i c e in w r i t i n g s e r v e d
u p o n t h e R a ilw a y C o m p a n y , d e c la r e d u e t h e p r in c ip a l o f a ll
th e G en eral M ortga ge b o n d s h e r e b y se cu re d . B u t th e h o ld ­
ers o f a m a j o r i t y in a m o u n t o f s a id P r io r L ie n b o n d s o r G e n ­
e ra l M o r t g a g e b o n d s , r e s p e c t iv e ly , m a y t h e r e a f t e r , in lik e
m a n n e r , a n n u l o r r e v e r s e a n y s u c h d e c la r a t io n .
A R IT IC L E E L E V E N .
ABSORBING TH E RAILW AY' COM PANY M AY
ISSUE BONDS H E R E U N D E R .
N o t h in g c o n t a in e d in t h is in d e n t u r e s h a ll p r e v e n t t h e
c o n s o lid a t io n o f th e R a ilw a y C o m p a n y w i t h a n y o t h e r c o r ­
p o r a t io n in a n y o f th e c a se s p r o v id e d f o r in A r t i c l e F o u r o f
t h is in d e n t u r e ; p r o v id e d , t h a t u p o n a n y s u c h c o n s o l id a t io n
t h e p a y m e n t o f a ll o f s a id b o n d s a c c o r d i n g t o t h e ir t e n o r
s h a ll b e a s s u m e d b y t h e c o n s o l id a t e d c o m p a n y . T h e s u c ­
c e s s o r c o r p o r a t io n f o r m e d b y s u c h c o n s o l id a t io n s h a ll b e
s u b s t it u t e d f o r t h e R a ilw a y C o m p a n y , p a r t y o f t h e fir s t p a r t
h e r e t o , a n d m a y issu e in t h e n a m e o f T h e A t c h i s o n T o p e k a
& S a n ta F e R a ilw a y C o m p a n y th e b o n d s s e c u r e d h e r e b y ,
s u b j e c t t o t h e c o n d it io n s h e r e in p r e s c r ib e d .

A

COM PANY

A R T IC L E T W E L V E .
P R IO R LIEN BONDS SUBJECT TO C ALL AT 103.
T h e R a ilw a y C o m p a n y m a y a t a n y t i m e a n d f r o m t i m e t o
t im e b e fo r e t h e d a t e o f t h e m a t u r i t y o f t h e s a id P r io r L i e n
b o n d s r e d e e m , u p o n a n y A p r il 1 o r O c t . 1, a n y o r a ll o f s a id
P r io r L ie n b o n d s w h ic h m a y b e o u t s t a n d in g b y p a y i n g u p o n
e a c h b o n d o f §1,000 s o t a k e n u p o r r e d e e m e d t h e s u m o f
§1,030 in g o ld c o in o f th e p r e s e n t s t a n d a r d o f w e i g h t a n d
fin e n e ss, w it h t h e in te r e s t u n p a id t o t h e d a t e o f r e d e m p t io n .
N o t ic e o f th e in t e n t io n t o r e d e e m s a id is s u e o f b o n d s s h a ll
b e g iv e n in o n e n e w s p a p e r in e a c h o f t h e c it ie s o f N e w
Y o r k . L o n d o n a n d A m s t e r d a m o n c e a m o n t h in e a c h m o n t h
f o r n o t less t h a n th r e e m o n t h s p r e c e d in g th e d a y f i x e d b y
t h e R a ilw a y C o m p a n y f o r s u c h r e d e m p t io n . I n c a s e less
t h a n t h e e n t ir e o u t s t a n d in g issu e is t o b e p a id , t h e n u m b e r s
o f b o n d s t o b e r e d e e m e d s h a ll b e d r a w n b y t h e T r u s t e e b y
lo t a n d a d v e r t is e d .
A R T IC L E T H IR T E E N .
INSTRUMENTS IN W RITING.
A n y in s t r u m e n t r e q u ir e d b y t h is in d e n t u r e t o b e e x e c u t e d
b y b o n d h o ld e r s m a y b e in a n y n u m b e r o f c o n c u r r e n t i n s t r u ­
m e n t s o f s im ila r t e n o r a n d d a t e .
A R T IC L E S F O U R T E E N A N D F IF T E E N .
T h e s e a r t ic le s a r e m e r e ly fo r m a l, r e la t in g t o t h e c o m ­
p a n y ’s r ig h t t o r e t a in t h e p r o p e r t y u n t il d e f a u lt , a n d t o t h e
t e r m in a t io n o f t h e T r u s t u p o n tlie f a i t h f u l p e r f o r m a n c e o f
a ll t h e c o v e n a n t s h e r e in .

APRfL IS, 1898.]

THE CHRONICLE.
A R TICLE SIXTEEN.

OBLIGATION'S AND LIABILITY OB' TRUSTEE.

The Trustee stud! not be required to take an y s t e p in the
execution o f the trust< h ereb y created except upon receiving
a reasonable Indem nity against the costs involved, nor to
take n otice o f a n y default o f the Railw ay Com pany, either
in the paym ent ’ o f an y interest or principal or in the per­
form ance o f anv covenant, unless specifically notified in
w ritin g o f such default.
The Trustee shall not be answerable for any default or
miscarriage o f any agent or attorney by it appointed here­
under, if such agen t w as selected w ith reasonable care, nor
for any error or mistake of judgm ent made b y it in good
faith, but shall only be liable for its own w illful m isconduct
or gross n egligence in the execu tion o f said trusts,
RESIGNATION OF TRUSTEE

The trustee m ay resign by n otice in writ ing t o be given to
the Railw ay Company, and published one or more times in a
newspaper in the City o f New York, for at least tw o m onths;
but such resign ation'shal 1 take effect im m ediately upon the
appointm ent o f a new Trustee hereunder.
A NEW TRUSTEE MAY BE APPOINTED BY A MAJOR IT V.

In case a Trustee shall resign, be rem oved, be dissolved or
otherwise becom e incapable o f actin g, a successor m ay be
appointed by the holders o f a m ajority in amount o f the
bonds secured hereby then outstanding, by an in stru m en t;
provided, nevertheless, that the Railway Com pany m ay. by
an instrument executed by order o f its board o f directors,
appoint a Trustee to act until a new Trustee shall be ap­
pointed by the bondholders, but any new Trustee appointed
by the bondholders shall im m ediately supersede any Trustee
appointed by the Railway Com pany. Every such Trustee
shall l>e an incorporated trust com pa n y o f good standing in
the Citv o f New York, having a capital and surplus o f at
least $1,000,000.

THE

A T C H IS O N T O P E K A & S A N T A
R A IL W A Y C O M P A N Y .

FE

ABSTRACT OF ADJUSTMENT MORTGAGE DEED
DATED DEC. 13, 18»5,
SECURING $31,728,000 OF t PER CENT BONDS (AND
UNDER CE RTAIN CONDITIONS $20,(«0,000 A D ­
D ITIO N AL BONDS! DUE J U L Y 1, 1895,
P A RTIE S.
T h e A t c h is o n T o p e k a & S a n t a F e

R a il w a y

Co m pa n y .

739

declare, as provided in t.ha m orteage o r deed o f trust next hereinafter
m entioned, to tie payable, pro raht, on the bonds o f the series o f which
this bond is one, out o f the surplus net e iruinsrs o f the-Railway Com­
pany and o f the property covered, by said m ortgage or deed o f tru st;
sUoh Interest, when declared, being payable In like sold coin, annually,
at said office or a.eoncy of the Railw ay Company, on the test day of
November in each year, bni on ly upon presentation and surrender o f
the respective coupons therefor, as berth me ter provided.
The Interest on tills bond up to July 1st, 1900, shall not b e cum ula­
tive; the interest from and after July 1st, 1900, shall be cum ulative.
The respective coupons attached to this bond shall represent in the
order in which they are num bered the corresponding instalments of
Interest which m ay be declared payable on this bond, and such instal
means o f interest, as and when ascertained, determ ined and declared
by the board o f directors, shall be payable to the holders o f the re­
spective coupons representing such instalments upon presentation
and surrender o f such coupons. Upon presentation o f this bond, after
the fiftieth instalm ent o f interest shall have been declared payable
thereon, the R ailw ay Com pany will attach thereto sheets o f coupons
representing the interest Instilm ents w hich may becom e due there
after, proper indorsement th ereof being m ade on the bond.
No interest «bn(l be payable on tUls bond unless such surplus net
earnings shall suffice to pav at least one half per centum on the bonds
of.said series; and th ereto o f interest declared payable shall be, In
each instance, either one-half per centum or a m ultiple o f one-half »e r
centum.
The determ ination by the board o f director* whether there are an y
surplus net eurui.au* fur any iise-.it year, ami na to the am ount o f snob
surplus not earning*, shall b e eonelneive and binding upon the Rail­
way Company, and upon the holder o f this bond, except as provided in
said mortgage.

Tills bond Is one of a series of similar Four Per Cent 100-year Ad­
justment Bonds, coupon and registered, Issued and to be issued in pursuance of. and all t« be subject to, and equally secured by, a mortrace or deed of trust dated December l-Jtb, 1895, executed by the
Railway Company to the Central Trust Company at New York, as
Trustee, covering the property and franchises of the Rsdlway Com­
pany, a* therein described; to which mortgage or deed of trust refer­
ence U hereby made for a description of the property and franchises
mortgaged and the right* of the holder* of said bauds under the same,
and the terms and conditions upon which said bonds are Issued.
Both the principal and interest of tbis bond are payable without
deduction for any tax or taxes wbieli the Railway Company may be
required to pay or to retain therefrom by any present o r future law o f
the United States or of any State or Territory thereof, the Railway
Company hereby agreeing u» pay such tax or taxes.
No recourse shall be had for the payment of the principal or Interest
of Whs bond against any stockholder, officer or director of the Railway
Company, either directly or through the Railway Company, by virtue
of any statute or by enforcement of any assessment or otherwise.
This !»n d shall pas# by delivery, unless registered in the owner's
name upon the bond transfer book- of the Railway Company, such
registration being noted ou the bond by the bond registrar of the Rail­
way Company. After such registration no transfer of this bond snail
be valid unless made on -ueh book# by tits registered owner, or Ids
attorney, and similarly noted on the bond ; but the same m ay be dis­
charged from registry by being transferred to bearer, after which
transferability by delivery shall be restored, and it shall continue sub­
ject to successive registration* and transfers to bearer as before. Such
registration, however, shall not affect the negotiability o l the coupons,
but the same shall continue to be transferable by delivery, notwith­
standing registration of the bond. The holder may also, at any time,
at lii« option, surrender for cancellation this bond, together with the
coupon* fo r futurei Interest thereon, and receive tu exchange therefor a
registered bond, without com m a* o f thosam o Issue, ns provided in said

mortgage or deed of trust.
Tbs* hood shall not in; valid for an r purpose unless aathentleated by
the certificate hereon endorsed of the Trustee under said mortgage or
deed o f tru st
IS wtrste-.H wttetusor, said Railway Company has caused these
pream ble.
re-o-nt* to in; signed by It*Comptroller, or a Deputy Comptroller, and
*
corporate seal to be hereunto affixed and attested by Its Secretary,
W ktrem , The Railway Com pany lias duly executed its
or Assistant Secretary, and coupon# with the engraved signature of Its
Gent-rat Mortgage ;
Treasurer to be attached hereto Hits 12th day of December, 1895.

o f Kansan, hereinafter called the “ Railway C om pan y." party
o f the Erst part, and Tin* Central Trust Company o f New
Y ork, called the '■Trustee,'' party o f the second part.

R

And whereon, $80,000,000, par value, o f the General M ort­
T hk A tchison T o p h k * & S anta F e R a il w a y Co m p a n y ,
gage bonds are reserved for construction, additions or bet­
By
Comptroller.
terments. term inals, or other properties, e tc .;
And whereas. There shall forthw ith be issued under this
A ttest;
mortgage A djustm ent bonds to the aggregate am ount o f
Secretary.
$51,738,800; and an additional am ount not exceeding $30,000,00© m ay be issued a fter said $30,000,00©. par value, o f Gen­
rortu o f coupon *.
eral Mortgage bonds shall have been used, but only with the So.
consent o f the holders o f a m ajority o f the Adjustm ent
t u b A t c h is o n T o p e k a A S a n t a F e R a i l w a y C o m p a n y will pay
to bearer at it* office or agency in the City o New York, upon presenta­
bond# then ou tstan din g;
DESCRIPTION OF ADJUSTMENT BONDS.

A n d whereas. The said A djustm ent bonds are to be coupon
bonds o f the denom ination o f $5*10, num bered consecutively
from D t upwards, and o f the denom ination o f $1.000, num ­
bered consecutively from Ml upwards, and as registered
bonds o f the denom ination o f i f ,000, or som > m ultiple o f
$1,000, each boaring a distinctive num ber. And all said
bonds are to be payable at the office or agency o f the Rail­
way Company in the City o f New York on the first day o f
July. A . D. 199.',, in gold coin o f the United State# o f the
present standard o f w eight and fineness, or its equivalent.
And to bear such interest, payable at said office o r agen cy,
in like gold coin , not exeee lin g 4 par centum per annum , as
the board o f director# o f the Railw ay Com pany, from time
to tim e, shall declare to b • payable out o f the surplus net
earnings of the Railway Com pany, and to he substantially o f
the follow in g tenor, viz.:
FOKM o *

No. 11’
t M.

jM r o x c n

o o o r o s a o*t».

UNITED STATE# OP AM ERICA.
MFATM

T mk

S ec . 1.

Far y «J o» rw elY «| ,T h #A ta biw B Tifpska .v 9«rita pv Railwit^ CnmtMfttimi %tm ** Ifei-ii

att'KT Mm>

Kills.*#* in

A R TICLE ONE.
ST 1,728.000,

W% E k it w v r (Joni, \ s? .

( T j m t m t O * a c o r p o r a * i<>»

to br*trf*f .o r , if taM tmn«l Ims msfHftrr *i n$ h e r e in a fte r

PROPERTY CONVEYED A# SECURITY,

The property conveyed as secu rity is the same as that co n ­
veyed anti fu lly described in the General M ortgage, an ab ­
stract o f w hich is given above, “ it being the intention
hereof that this m ortgage or deed o f trust shall at all tim es
c o v e r a ll th • properties w hich are now , or shall hereafter be,
covered by said General M ortgage, and that the lien o f said
General M ortgage shall at all times be prior and superior to
the lien o f this m ortgage as to any and all property now or
hereafter su bject to the Hen h ereof.”
TOTAL ISSUE OF ADJUSTMENT BONDS MUST NOT EXCEED

F tm r P e r t i m t tm ~ T m r A 0 n # t m m 1 B w rL
pAt/t#

The registered bond# are in the som e form for blank dol­
lars, but w ithout coupons, the principal and interest being
payable only to the registered holder.

Sttoo
$1,000

f> y f U S S A * .

T ownca &

tion and surrender of this coupon, the
instalment or interest
on it# }
Four Per Cent 100-year A<yo*tmont bond No.
,
if and when inch interest shall become payable in accordance with
the provision* o f the mortgage given to secure said bond.
Treasurer.
REGISTERED BONDS.

Ut tiny
to the

on the fir.*?: t\nf o f P u ff, mm tfiottaitn'i nine
TOOflrwi
fit ttkr ffSBm « r m tn w f o f Hie K&HwiiyOtjmpanr In the City o f New York, the *nm o f ) * T ® j dollars, jo iii coin
o f the United State* o f Hie ptn-w-nt u nvlarel 'o f woigltt »n>l flue-

■am*. <>v »t* equivalent.: an l tvnm January tut, lean. until the prln.clpal nf tin , Ik- u I shall !>•• •„ n - due, t . pay *n- i. Intel e-t thereon,
n ot exoaerUn'r four i#*r (-entiim p»-i- a immi, a . tins bo-trel o f director* o f
the Railway Company, from i Mil,- to time, .h oiI ascertain, itetormhie and

The a m x u it o f all the bon-Is w hich may bs issued
under this indenture shall not in anv event exceed
$71,733,000,
*->t,7i!S,0o<:* TO BE D E L IV E R E D FORTH W ITH.
S e c . 2. O f m i di b a i l s $11,72-!.Old s h ill forthw ith b e de­

livered to the Joint Executive Reorganization C om m ittee.
W H E N R EM AIN IN ' ■} 40O.OOOOO8 M A Y B E IS S U E D .

S ec. 3. A fter th# SiUPMOh o f General M ortgage bondu
reserved under S lotion S o f Article One o f sa id” General
Mortgage shall have b-en issued, said fact fi fing certified to
the Trustee hereunder by the President or a Vice-President

THE CHRONICLE.

740

and by the General Auditor or Treasurer of the Railway Com­
pany, and after the consent in writing of the holders of a
majority of the Adjustment Bonds, then outstanding, shall
have been obtained, as evidenced by instruments duly signed
by the holders of such majority interest, the Trustee may de­
liver §2 0 ,0 0 0 ,0 0 0 of additional bonds secured by this in­
denture, which bonds shall be used only for such improve­
ments, additions, extensions and acquisitions as are named
in Article One, Section 5, of the above General Mortgage.

[V ol , L X II,

the board of directors; but no interest shall be payable on
any such deferred interest or the coupons therefor.
In case any o f the cumulative interest after July 1, 1900,
shall have fallen in arrears, the board of directors may, in
its discretion, declare such interest in arrears, or any part
thereof, to be payable, and may pay the same, at any time.
NOT LESS THAN ONE-HALF PE R CENT OR EVEN M ULTIPLES
THE R E O F TO BE PAID AS INTEREST.

No interest shall be payable on said bonds unless such sur­
plus net earnings, as determined by the board o f directors,
shall suffice to pay at least one-half of one per cent interest
on said bon ds; and the rate o f interest declared payable
Not more than §2,000,000 par value of said Adjustment shall in each instance be either one-half of one per cent or
Bonds may be delivered in any one calendar year; and the some multiple of one-half per cent. Any fraction shall be
amount of such $2 ,0 0 0 ,0 0 0 or used for the construc­ carried forward to the surplus net earnings of the next year.
tion or acquisition of branch lines or extensions or for INTEREST FOR EACH FISCAL Y EAR TO B E DETERM INED B Y
OCT. 15.
the acquisition of stocks, bonds and indebtedness of other
On or before the 15th day of October in each year, begin­
companies owning such branch lines or extensions, shall not
exceed $15,000 par value per mile of completed line, less any ning with the year 1897, the board of directors shall ascertain
liens thereon, and shall not exceed in the aggregate $500,000 the surplus net earnings for the fiscal year ending on the
preceding 30th day of June, and shall determine the rate of
in any one calendar year.
COMPANY NOT TO H \ V E IN ITS P03SE 3S0N OYER $500,000 OF interest, if any, which such surplus net earnings shall suffice
THE BONDS AT AN Y ONE TIME.
to pay pro rata on account of the interest then payable on
After the first $500,000 of said bonds shall have been cer­ the bonds hereby secured.
tified and delivered under this Section, the Trustee shall de­ EIGHTEEN MONTHS, ENDING JUNE 30, 1897, TO BE INCLUDED
IN FIRST FISCAL Y E A R .
liver additional bonds only from time to time to an amount
equal to the amount of bonds previously delivered under this
The fiscal year ending June 30, 1897, shall for the purposes
Section, which shall have been actually used for any o f the hereof include the six months ending June 30, 1896.
purposes specified in this Section; it being the intention
INTEREST TO BE P A ID NOV. 1.
hereof that the Railway Company may, at all times, hold as
The board of directors shall thereupon in each year declare
an advance $500,000, par value, and no more. Before deliv­ to be payable, on Nov. 1 of that year, an instalment of in­
ering any such additional bonds the trustee shall, in each terest at the rate so determined, and shall publish notice of
Instance, require the Railway Company to furnish, in addi­ silch declaration in one or more newspapers in the cities of
tion to such resolution of the board of directors, a certificate New York, N. Y .; London, England, and Amsterdam, Holland.
stating all the facts with reference to the Adjustment bonds If the board of directors shall determine that the surplus
that are called for by Article I. Section Five, o f the above net earnings of any fiscal year are not sufficient to pay any
General Mortgage, under the heading of ^Provisions govern­ interest, then they shall so declare. On or before Oct. 15,
ing the issue of said $30,000,000 General Mortgage bonds.” yearly, written notice shall be given to the Trustee as to the
(See page 734.)
rate of interest declared payable on said bonds.
Out of the authorized issue of $2,000,000 yearly, bonds COUPONS TO RE PRESENT IN O RDER A N Y INTEREST DE C LAR E D
shall be reserved to retire all existing liens on branches or
PA YA B LE.
property constructed or acquired, precisely as stated in said
The respective coupons shall represent in the order in
Article I Section Five of the General Mortgage.
which they are numbered the corresponding instalments of
REGISTER SD BO N D S-M U TILA TE D BONDS.
interest which may be declared payable on said bonds, and
Seo. 4. The provisions respecting registered bonds with­ whenever fifty instalments shall have been declared pay­
out coupons and the right to issue bonds in places o f those able, the Railway Company will cause to be attached thereto
mutilated or destroyed are stated exactly as in the General additional sheets of coupons.
METHOD BY W HICH THE DIRECTORS SHALL DE TE RM IN E TH E
Mortgage, Article I, Section 10. See page 735.
ONLY $2,000,000 TO BE ISSUE D IN ANY ONE Y EA H OF WHICH
FOR EXTENSIONS N >T OYE R $.300,000 A T $15,000
P E R MILE.

“ SURPLUS NET E A R N IN G S” A P P L IC A B L E TO INTEREST.

COVENANTS AS TO USE OF BONDS, E M .
S e c t io n s 5 and 6 relate to the Railway Company's

covenant
to use the bonds as herein provided, and to the fact that
only the bondholders and the parties to the mortgage have
any rights under this indenture. These Sections are iden­
tical with Sections 11 and 12, Article I, of the foregoing Gen­
eral Mortgage. See page 736.
ARTICLE TWO.
REGISTRATION .

Article II. referring particularly to registration of cou­
pon bonds, differs in no respect from the same article in the
preceding mortgage. See page 736.
ARTICLE THREE.
COMPANY COVENANTS TO PAY IN GOLD P R IN C IPA L W HEN
DUE AND INTEREST UP TO 4 PE R CENT WHEN EARNED.

The Railway Company covenants that it will pay to the
respective holders of the bonds issued hereunder the princi­
pal of said bonds, at the office or agency of the Railway
Company in the City of New York, on the first day of July,
1995, in gold c o in 'o f the United States of the present
standard of weight and fineness, or its equivalent, and that
it will pay, at said office or agency, in like gold coin, such
interest on said bonds, not exceeding 4 per centum per
annum, as shall become payable out of the surplus net
earnings of the Railway Company, from all sources, when
and as such net earnings shall be ascertained and deter­
mined, and the rate of interest on said bonds .be declared,
by the board of directors of the Railway Company, as here­
inafter provided, without deduction for any tax or taxes
which the Railway Company may be required to pay or
retain therefrom under any present or future law of the
United States or of any State or Territory thereof.
INTEREST T J BE OUMU^ATIVE AFTER JUNE 3

1 9 '0.

The interest on said bonds up to the first day of July, 1900,
shall not be cumulative ; that is to say, if. upon the expira­
tion of the fiscal year ending June 30, 1900, or upon the ex­
piration of any fiscal year prior to that date, the rate of
interest determined and declared by the board of directors
to be payable for that fiscal year shall be less than 4 per
cent, then the deficiency, whether total or partial, shall not
be payable out of any future surplus net earnings.
The interest on said bonds after June 30, 1900, shall be
cumulative; that is to say, such interest shall be payable
out of any surplus net earnings whenever ascertained, de­
termined and declared as hereinafter provided; and if the
amount of interest declared to be payable shall be less than
4 per cent for that fiscal year, together with any unpaid
interest at the rate of 4 per cent per annum for previous
fiscal years after June 30, 1900, then the deficiency shall be
payable out of future surplus net earnings when declared by

To ascertain the “ surplus net earnings” of a fiscal year,
for the purposes o f this indenture, there may be deducted
from the gross income of the railways, bonds, stocks and
other property subject to this mortgage, and all other gross
income of the Railway Company, the following items, and
no others, viz.:
(a) A ll operating expenses fo r such fiscal year, including all e x ­
penses for m aintenance, repairs, renew als and replacem ents o f the
railways and other properties included in the system o f railw ays then
operated h y the R ailway Company, aud which shall then be ow ned by
the R ailway Company or by any other com panies o f whose capital
stocks the greater part shall belong to tbe R ailw ay Company and be
subject to the lien hereof, and for insurance, loss and damage claims,
over-charges and losses on uncollectible accounts, aud all expenditures
in order to seeure the safe and proper m aintenance and operation o f
said railw ays and properties, or any o f th em ;
(ft) All taxes and assessments fo r such fiscal year upon o r against
the said railw ays and properties, or any o f them, and upon the incom e
and earnings o f the Railw ay Company and such other companies, and
all rentals o f leased lines and tracks (subject to the provisions herein­
after contained in this A rticle), and rentals o f rollin g stock tem por­
arily hired, and o f terminals and other p rop erties; and
(e) A ll interest fo r such fiscal year on the bonds o f the R ailw ay Com ­
pany, now or hereafter issued under said General M ortgage, aud on
outstanding b o n is or obligations fo r the acquisition or redem ption o f
w hich bonds are reserved under said General M ortgage, and all inter­
est charges on current obligations, other than funded debt, and also
discounts aud losses on exchange, and fixed charges incurred on ac­
count of the acquisition o f new railroads, branohes or extensions (sub­
je c t, how ever, to the provisious hereinafter contained in this A r tic le );
but not any sums which m ay be p ayable as the cost o f tiie building o f
new extensions or branches or o f the acquisition o f new properties, or
as dividends upon any stock o f the R ailw ay Com pany, whether pre
ferred or com m on, or tbe interest on any incom e bonds which m ay be
issued by tbe Railw ay Company.
ATLANTIC A- PACIFIC, E T
IF ACQUIRED BY USE OF
BONDS, TO BE INCLUDED IN DETERM INING SURPLUS
N E f EARNINGS.

It is understood that, if the Railway Company shall, as
provided in Section 7 of Article One of said General Mort­
gage, acquire the Atlantic & Pacific RR., or the Colorado
Midland R R., or the St. Louis & San Francisco RR., or
the stocks and bonds of any railroad company owning
either of said railroads, or if it shall acquire any other rail­
road, branch line or extension, by use of bonds reserved
under said General Mortgage, or bonds reserved under this
mortgage, then the railroad, branch line or extension so
acquired shall be treated as part of the railways included in
said system, the surplus net earnings of which shall be
applied to the payment of interest on the bonds hereby
secured.

A p r il 1 8

,

741

THE CHRONICLE

OTHERWISE THE LOSS O S AFTER-ACQUIRED BRANCH LINES
WHICH IS s o r OFFSET BY EARNINGS FRO 'l TR AF F IC
INTERCHANGED SHALL NO i* BE CHARGED
AGAINST s u r p l u s n e t e a r n i n g s .

The R ailw ay Company covenants that if, in any other case,
it shall, after the date "o f this indenture, lease or acquire
<whether direct ly or by ownership o f stock, or stock and
bonds) any o f said railroads or any other railroad, branch or
extension, separate accounts shall be kept show ing :
(XI In ra w of a lease, sll the receipts miller s u c h lease on tlie one
side, and all expenditures and rentals paid, on (he other side; and (2),
In ease of anv sueh lu-ipusimm, all the r e c e ip ts of the Railway Com
from the p rop er* v aetpured - on the one side, aud, on th e outer
fide, ait expenditures on acvottttt of the operation thereof. Including
maintenance, rep tics and renewals, and taxes, assessments, rentals
and tiled charges, including payments under guaranties executed bv
the Railway Company or by any other Company in its sysle u, and all
prior charges subject to which such property was acquired, and other
ite m s like those which may he deducted in ascertaining the surplus
net earnings of the Railway I'omp.uiy as above mentioned.

ARTICLES FOUR AND FIVE.
VARIOUS PROVISIONS.
S e c t io n 1. U n til the final satisfaction o f all the bonds

issued under the said General M ortgage. all the railw ay and
other property shall rem ain su b ject to the prior and superior
lien o f said General M ortgage, etc.
W henever all the bonds issued under said General M ort­
gage shall be satisfied, the Trustee hereunder shall hold all
such bonds, coupons, shares, claim s and other property in
tlie same manner and w ith the same rights as they w ere
held by the Trustee under said General M ortgage.

ARTICLE SIX.
TREATMENT OF SECURITIES PLEDGED.

S e c t io n i. E xcept in tlie cases m entioned in A rticle Five
o f said General M ortgage, or as otherwise provided in said
General M ortgage, or in this indenture, the Railw ay Com­
And if it shall appear that the aggregate am ount o f all pany will not sell any bond or share o f stock now or here­
such expenditures in any fiscal year siiall be in excess o f the after assigned to the Trustee under this indenture, nor
aggregate am ount o f such receipts in such fiscal year, plus hypothecate the same except su b ject to the prior lien hereof.
TAXES, ASSESSMENTS, ETC., TO BE PAID.
85 per cent o f the gross earnings upon the other lines in the
Sec . 3. The Railw ay Company w ill from tim e to tim e pay
system of the Railway Company derived from traffic inter­
changed between such railroad, branch or extension, leased all taxes, assessments and governm ental charges law fu lly
or acquired, and the other lines in the system isuch gross im posed upon the lines o f railroad and other premises hereby
earnings being calculated upon a division o f the rates on m ortgaged, as also all m ech an ics' and other liens.
such traffic between such railroad, branch or extension, and
DEEDS OF FURTHER ASSURANCE.
the other lines on an even mileage basis), then in determ in­
S ec . 3. All property acquired from proceeds o f bonds
ing the “ surplus net earnings'* the am ount o f the deductions secured by this indenture, or otherwise pursuant to the pro­
which mav tie made from the gross incom e, as hereinbefore visions hereof, shall be su bject to the lien o f this indenture,
provided, shall he dim inished by the am ount o f such excess. su bject to tin* prior lien o f said General M ortgage ; and the
WHEN LOSSES OS T tAFFIC AGREE HENTS OR TRACKAGE Railway Company w ill deliver all such further assurances
RIGHTS SHALL NOT BE DEDUCTED.
with r.-sp •••t.theret >as the Trustee mav reasonably require.
Tire Railway Company further covenants that if it shall,
A R TICLE SEVEN.
after the date o f th is indenture, make any agreem ent for the
RELEASE OF PROPERTY FROM HEN HEREOF.
interchange o f traffic with an y com pany ow ning the St.
The provisions respecting release o f property are substan­
Louis & San Francisco R R „ the Colorado Midland RU.,
the Atlantic & Pacific UR., or with any other railroad com ­ tially the ssime as in Article Eight o f the General M ortgage
pany o f whoa** capital stock it shall hereafter acquire the above. See page 737.
A R TICLE EIGHT.
greater part, then a separate account shall be kept o f the
gross earnings derived by the Railw ay C om pan y and by such DEFAULT FOR 90 DAYS, TRUSTEE MAY TAKE POSSESSION
other com pany under such agreem ent. And the Railway
In case o f default in th e paym ent o f the principal w hen
Company covenants that If the am ount o f gross earnings dm*, or for m in ty days in the payment o f any interest de­
received b y any such com pany under any such agreement clared due and payable, or o f failure b y the* directors for
shall exceed the am ount w hich would la* received by such ninety days to declare interest payable out o f the surplus
com pany i f the gross earnings o f the Railw ay Com pany and net earnings, as provided in A rticle Three, or o f failure b y
o f such other com pany derived from the interchanged traffic the Railway Company to cause the surplus net earnings
were divided between the tw o com panies on an even mileage to be ascertained in accordance with A rticle Three, and the
basis, plus 25 per cent o f the gross earnings derived by the holders o f one-half in am ount o f the bonds hereby secured
Railway Com pany upon the other line# ui its system from shall in w riting request the Trustee to proceed against the
such interchange!! traffic, calculating such earnings on the Railway Companv : or o f failure by the Railway Company in
same basis, then, in determ ining the “ surplus net earnings,” the observance o f any other covenant herein required for a
the aggregate am ount o f the deductions w hich may be made period o f ninety days after the Trustee, pursuant to instruc­
from the gross incom e, as above provided, shall be dim in­ tions o f not less titan one-half in am ount o f the bonds se­
ished by the am ount of such excess.
cured hereby, shall have requested the Railway • om pany to
In like manner, as to any agreem ent for trackage rights perform or observe such covenant, then the Trustee m ay, in its
made after the date o f this indenture with any o f the com ­ discretion, enter upon anil operate the railway and property
panies above named in this Section, or with any other com ­ hereby conveyed and apply the profits o f the same and the
pany o f whose capital stock it shall hereafter acquire the incom e from stocks and bonds pledged after dedu ctin g the
greater part, if the sums payable under such agreem ent shall expenses o f operating and o f m aking all repairs, renew als
exceed the am ount o f net earnings o f the Railw ay Company and alterations, and o f paving all taxes, assessments, insur­
derived from traffic upon the line upon w hich such trackage ance and interest on the bonds issued under said General
right exists, plus 35 per cent o f the g n a t earnings upon tin* M ortgage, or other prior proper charges, as follow s :
other lines of its system from traffic interchanged with the
T» tic payment o f the Interest which may then he in default on tho
tine upon which such trackage right exists, calcuiatbig all the bonds hereby secured, together with any Interest which may becom e
gross earnings on an even mileage basis, then, in determ in­ payable In respect of surplus net oiMulugs during such possession of
mortgaged railways, property and promises by the Trustee, and
in g th e “ surplus net earnings" the aggregate am ount o f the the
after payment o f al! such Interest, then, if the principal o f said bonds
deductions which may be made from the gross incom e, as shall nave become tin*, to tho payment of the principal of said bonds,
above provided, shall be dim inished by the am ount o f such all such payment* in every instance to be made ratably to the persons
or parties entitled thereto, without discrimination or preference.
excess.
Upon payment o f all sums due, possession shall bo restored
DETERMINATION OF DIRECTORS ,TO BE FINAL UNLESS
to the Railw ay Com pany.
HOLDER.** OF ONE HALF THE BONDS WITHIN SIX

MONTHS REQUEST TRUSTEE TO TAKE
ACTION

The determ ination by the Hoard o f Directors as to the
am ount o f such surplus net earnings sliall be binding upon
all parties interested, unless the holders o f not less than onehalf in am ount o f the bonds hereby secured then outstand­
ing, shall before the expiration o f six months, in writing,
request the trustee to institute proceeding against the Rail­
w ay Company t o en force their rights hereunder,
ON SUCH REQUEST TRUSTEE SH ALL BRING SUIT FOR AN AC-

WCOCNTING OB FORECLOSURE. BOOKS MAY
BE EXAMINED.
Upon any such request, the 1 rustee, upon being indemni­
fied, shall institute proceedings for an accoun tin g, or for the
foreclosure o f this indenture, or for the enforcem ent o f any
other legal or equitable rem edy, as advised by counsel
learned in the law*, to protect the bondholders. A nd the
Trustee shall appoint an Independent expert accountant to
exam ine the books o f the Railw ay Com pany at its expense,
and make h report thereof to the I rustee for the benefit o f
the bondholders, t he Railw ay Company c ov en a n t' that it
will thereupon allow such Inspection and that it w ill pay the
reasonable com pensation o f such accoun tant for his services.
NO DIVIDENDS Tt L INTEREST ts PAID.
No dividend shall ever lie paid in any year on any stock o f
the Railway Com pany on '. - . a full instalment o f 4 per
centum interest for the same year shall be paid on all the
bonds issued hereunder, and also all arrears o f interest at thp
rate o f 4 per cent per annum w hich after July 1st . 1900, shall
have accrued and lx*, at the tun- . unpaid.

OR INSTITUTE SUITS AGAINST TH E RAILWAY* COMPANY.

S ec*. 2. Or tho Trustee m ay enforce the rights o f the bond­
holders, b y suits in equity or at law, for the foreclosure o f
this indenture, or for the enforcem ent o f any other appro­
priate legal or equitable remedy.
SUITS TOUCHING SURPLUS BET EARNINGS.

No suit shall lie against the Railw ay Com pany on a ccou n t
o f any error in the determ ination o f the surplus net earn­
ings, or any failure to perform any o f the covenants con ­
tained in Article Three, unless the holders o f one-half in
am ount o f the bonds hereby secured then outstanding,
w ithin six months after written n otice o f such determina­
tion shall have been given b y the Railw ay Com pany to the
Trustee hereunder, shall, by an instrum ent in w riting,
request the Trustee to institute proceedings.
DEFAULT—PROPERTY MAY BE HOLD.-

S ec . 3. In ease o f default as aforesaid, and any such
default shall continue for a period o f ninety days after the
existence of such default shah have been ascertained, or the
perform ance o f such covenant or agreem ent shall have been
decreed by the final decree o f any Court o f com petent ju ris­
diction in a proceeding brought by the Trustee against the
Railway Con.panv for that purpose, upon the w ritten requevf o f the holders o f one-half in am ount o f the bonds
hereby secured, then outstanding—then tlie Trustee m ay
sell at auction to the highest and best bidder as an entirety
all and singular the m ortgaged railroad and premises, bonds,
stocks, rights, franchises and interests, su bject nevertheless
to the prior lieu o f said General Mortgage, first g ivin g

742

IHE CHRONICLE.

notice of sale for six successive weeks in one newspaper
published in each of the cities of Topeka, New York. N. Y .,
and Boston, Mass.
S ec. 4. The Trustee may deliver to the accepted purchaser
$;o0 d and sufficient deeds for the property.
Sec. 5. In case of any such sale, the principal of all the
bonds hereby secured, then outstanding, shall at once be­
come due and payable, and the proceeds of any such sale
shall be applied as follows :
F irst—To t lie expenses o f such sale, and o f all expenses Incurred by
ifche Trustee in m auaging the property, etc.
’Second—To the payment o f the principal o f all the bonds hereby
secured then outstanding, together with any Interest in default, and
any cum ulative interest at the rate o f 4 per centum per annum from
Ju ly 1st, 11)01), which may then be unpaid. Payments upon the bonds
shall be made pro rata without any preference or priority as between
-principal and interest or otherwise.
TO BE SOLD AS AN EN TIR E TY SUBJECT TO GEN ERAL MORT
S ec. 0. In the event of any sale, pursuant to any pro­

[V ol , TiXIT.

Pittsburg M arini Jfc Cliicagi) It It.—Slid in Foreclosure.—
This road was B old in foreclosure April 13 at Lisbin, O.. for
$81,000 to the bondholders’ c immittee—A. F. Oonutock, N->w
York ; C. W . Birmger, James W. Clark and N. B. Bdlingsby,
L-sbon.—V. 02, p. 591.
St.. Louis & Sin Francisco Ry.—Reorganization Plan —
The holders of a large maj irity of the Sc. Louis & S n Fran­
cisco consolidated bonds have formed a committee and pre­
pared a plan for the independent reorganizition of the com­
pany. The committee has purchased from the Atchison Co.
at 35 ihe $5,633,000 consols held by the Atchison Reorginizitiou Committee. The stock, which is all held by the Atchison,
will be wiped out, and that company also waives itsclaimsfor
floating debt. The Frisco also agrees to abandoa its suits The
plan p ovides for a reduction of fixed charges from $2,436,982
to $1,994,330. The co. earned in the last fiscal year $2,336,787.
NEW SECURITIES.

m ortgage 100-ve ir 4 per cent b o n d s ............$50,000,000
vision hereof, the property shall be sold, subject to the lien Consolidated
First preferred non-oumulative 4 per cent stock .......; ........ 5,000,000
o f said General Mortgage, in one parcel, including all the Second preferred nou-cumulative a per cent stock ..............'6,000,000
railroads, franchises, leases, stocks, bonds, etc.
Common stock................................................................ - ................ 2.J.OOO.OOO
VARIOUS PROVISIONS.
The only disturbed bonds are the following: Cmsolidated
S e c t io n s 7, 8 a n d 9, relating respectively to payment of 4 per cents, due 1990, Kansas Midland 4 p=r cents, St. Louis
purchase money in bonds and coupons of this issue, to the Salem & Arkansas 5 ner cents, Sc. Louis Kansas & South­
Trustee’s right, under certain contingencies, to have re­ western 6 per cents, Kansas City & Southwestern 6 per cents.
Etch consolidated bond with April 1, 1893, and subsequent
ceivers appointed, and to the Railway Company’s light prior
to default to surrender possession of the property (in which coupons, paying assessment of $104, will receive $14 ) in first
preferred
stock, $ 1 ,0 0 0 in second preferred stock and $1,800
case the Trustee shall apply the income as in Section 2 of
this Article), and to the Railway Company’s waiver of exten­ in common stock. The terms and conditio is as to the other
sion, etc., laws, these are similar to Sec. 8 , 9 and 10 of Article bonds will be announced later.
The cash requirements are $6,321,410, which will be pro­
9 in the General Mortgage preceding. (See page 738.)
PROCEEDIN GS FOR EQUAL BENEFIT OF ALL BONDHOLDERS- vided by the cash assessment on consols of $ 1 0 0 per bond and
S ec. 10. No holder of any bond or coupon hereby secured fuTther offer to them to subscribe for each bond deposited for:
$670 second preferred stock.
shall have any right to institute any suit hereunder unless $670 new consols.
1,206 common stock.
the holders of one-half in amount of the bonds hereby 469 first preferred stock.
secured then outstanding shall have requested the Trustee, Paving therefor $670 in cash.
The plan is underwritten by a syndicate. The depository
in writing."and shall have afforded to it reasonable oppor­
tunity to institute such action in its own name ; it being will be the Mercantile Trust Co. of New York.
The committee is a9 follows: Louis Fitzgerald, Chairman;
intended that no holders of bonds and coupons shall enforce
any right hereunder except in the manner herein provided, J. KeDnpdy Tod, Isaac N. Seligman. James A Blair, B P.
but that all proceedings shall be maintained for the equal Cheney. S. C. Eastman, Chas. S. Gleed and S. Alsberg.
The plan was announced late on Friday, and further de­
benefit of all the holders.
No recourse shall be had against any incorporator, stock­ tails will he publi-hed in our next issue.
Judge Caldwell has extended fill April 25 the time for
holder. officer or director of the Railway Company.
Except as herein expressly provided to the contrary, every filing the decree of foreclosure.—62, p. 591.
Southwestern Traffic Association —New Agreement.—The
remedy herein conferred shall be in addition to every other
Siuthwes ero road-s finve entered into an agree nent on the
remedy at law or in equity or by statute.
A M A JO R ! L'Y OF THE BONDS M AY n o\ 'T R )L FO RECLOSURE, lines of the Joint Traffi; agreement of the Eastern Trunk
ETC.. PROCEEDINGS.
Lines. The Sc. Louis Globe-Democrat sivs:
Tlie Soulliwestern Traffic Assoej ition st irts out afteffi on its career
S ec. 11. The holders of a majority in amount of all the
usefulness to the railroat ami steamship line interests engaged ia
bonds hereby secured shall have the right to direct and 'ofraffle,
to and from Texas, seeking to maintain rates and preserve
control all proceedings for any sale o f the premises, or for revenues for all the com petitive interests, and thus secure an ea iitthe foreclosure of this indenture, or for the appointment of abie share of the business for each. The agreement takes effect at
a Receiver, etc., and for that purpose to instruct the once. The Board or Administration is ns follows: H. C. Wicker, \V. 3
Speirs, J. Waldo, A. 8. Dodge, J. B. B irtholomvw, C. H ole.
Trustee to continue or discontinue any such proceedings.
T dp traffic covered b y the agreement, it is stated, doss not
ARTICLE NINE.
include the grain business to the Port of Gilveston, because
ON FORECLOSURE OF GEN ERAL MORTGAGE. ADJUSTMENT this business is competitive with Naw Orleans.
BONDS TO BE DUE A N D P A Y A B L E .
Toledo St. Louis & Kansas City H R — Preferred Stock
In case the premises shall be sold under said General S uit—Judge Ricks in the Circuit Court for the Northern
Mortgage or under any other prior mortgage, the principal of District of Ohio has decided against the preferred stock in
all the bonds hereby secured shall forthwith become due and its claim to a lien upon the property. Tue Court held that to
payable.
constitute a lien the bonds or certificites must be issued and
ARTICLE TEN.
certified and the instrument securing the lien must be re­
CONSOLIDATION W ITH P R O PR IE T A R Y COMPANIES.
corded as provided by statute. Stock certificates, unless
Nothing herein shall prevent the consolidation of the such procedure has been specifically gone through, simply
Railway Company with any other corporation of whose make the holder an owner of the property subject to the lien
capital stock not less than 95 per cent and of whose of credi'ors. The first mortgage bondholders are now pro­
mortgage and other indebtedness not less than 9 5 per ceeding with their foreclosure suit.—V. 62, p. 316.
£
cent shall be owned by the Railway Company and then
Traffic Association.—Pacific Mail
be subject to the lien of this indenture ; provided, however. * STrans-Continental
—Panama HR.—The orgam’zition of the new Trans­
that such consolidation or merger shall not impair the lien continental Association mentioned on page 594 has been com­
and security of this indenture, and provided, further, that pleted. All of the Trans-Continental lines, including the
no such consolidation shall in anv manner diminish the Canadian Pacific, have come into the Association. A new
amount of surplus net earnings to be applied to the payment schedule of rates has been drawn up and will go into
o f interest on the bonds hereby secured. Such successor effect May 1. The Panama RR. is included iu the Associa­
corporation may issue, in the name of Ihe Atchison Topeka tion, and through its traffic contract with the Pacific Mail
& Santa Fe Railway company, any of such bonds, subject to
Steamship Co. the latter company participates in the agree­
all the restrictions herein prescribed.
ment under which the Association charters an amount of
soace on the steintships of the Pacific Mail and Columbian
ARTICLE ELEVEN.
(Panama R R ) lj°es that is guaranteed to yield $72,500 a
INSTRUMENTS EXECU TED BY BONDHOLDERS.
Any instrument required by this indenture to he signed month, or $870,000 a year. The contract is to be binding until
and executed by bondholders may be in any number of con­ the end of the year, and after that to be terminable on
ninety days notice. R. H. Couotess is Chairman of the
current instruments of similar tenor and date.
Association with headquarters at C hicigo.—V. 62, p. 594.
ARTICLES TWELVE AND THIRTEEN.
Union P a cificR R .-C e n tra l Pacific RR.—Pacific RR Bill.
VARIOUS PROVISIONS.
These article, relate merely to the company’s right to pos­ - I h e House Committee on Pacific Railroads on Monday comt^16 i1 looking to the settlement of the indebtedness
sess the property prior to default, and to the termination of of the Pacific
railroads, and it is understood the bill will be
the trust when all the covenants herein have been faithfully brought up in the House within two weeks, with the recom­
performed.
J
mendation
pass. The measure as agreed to is practiARTICLE FOURTEEN.
cally the same as that drawn by the sub-committee, already
ITRU.-TEE-e OBLIGATIONS, RESIGNATION, REMOVAL, ETC.
published.—V. 62, p. 643.
J
The provisions respecting the obligation of trustees to
.
.
ori
sei
«
'
'.a
o
n
ore
iin
.—btoalcholders
Meeting
Min
art. their resignation and their appointment, etc., are sub­ 2 to R atify Consolidation.—Speciil meetings of the stockstantially the same as in the preceding General Mortgage holders ol the several railroads which it is proposed to m Qr°pe
Article Sixteen (see page 739), except that under the Ad'fust- and consolidate into a single corporation with this title will
m mt Mortgage the Trustee or a successor Trustee may be be held May 2 at Camden. The officers of the several com ­
removed by an instrument in writing signed by holders of panies have already executed the agreemmt of consolidatwo-thirds of bonds hereby secured at the time outstanding. tion.—V. 62, p. 594.
—•

APRIL 18, 1896,]
T h e

THE CHRONICLE.

C o m m e r c ia l

COMMERCIAL

C O T T O N .

^ iw e s .

Friday Night , April 17, 1896,
The Movement op the Crop , as indicated by our telegra m s

EPITOME.
FB-IDAY Nioot , April 17,1896.

Reports from W ashington, apparently semi-official, regard,
Cleveland's pprobable
in Cut um
an Baffairs,
iv w a v io course ***
w a u f,
have been sufficiently tentative; but, construed to indicate
that he w ill act with much deliberation, have bad a soothing,
assuring effect in financial and com m ercial circles, which has
been attended with gratifying results. The weather has been
o f summer temperature over large sections o f the country,
bringing rapidly iorw ard a rather backward spring. General
trade is again better, but still scarcely up to the average. The
Great Lakes are open to navigation and it is probable the
Erie Canal will be open on the first of May.
There has continued a very quiet market for lard on the
spot and prices have steadily declined, closing dull at 5*25c.
for piitne W estern, 4 70c. for prime City and .v50c. for re­
fined for the Continent.
Speculation m the local market for
lard fit lures has continued at a standstill but nominal prices
have been quoted low er in response to weaker advices from
the West, where packers have been free sellers, prompted by
the continued heavy receipts of swine,
President
iing
iig x

D A H .T CLOSING PRICES OS’ LARB fDTCRSS.

M ay.................................. e.

Sal.

5-35

Hon.

5‘SO

Tues.

5-25

Wed.
6-27

Jhur.

5-20

:43

fV«.
5-25

j

from the South to-night, is given below. For the week en d in g
this evening the total receipts have reached 10,076 bales,
against 37,967 bales last week and 60,203 bales the previous
week, making the total receipts since the 1st o f Sept., 1895,
4,920,937 bales,
u tu r a , against 7,517,925
i , u h ,<a***j bales JtUl
for the 00,1X10
same period
p c i 1UU U
o if
1894-5, show ing a decrease since Sept. 1,1895, o f 2,598,968 bales,
Receipts at—

Sat,

G alveston.........
Tex. City, Ac.
S ew O rleans...
M obile............. .
|
F lorida..............
Savannah_____
Bruns w*k, <fce.
Charleston.......
Pt. R oyal, A c.
W ilm ington. . . .
W ash'ton, Ac.
N orfolk..............
West P oin t.......
N 'port’N., Ac.
New Y o r k .........
B oston ..............
B altim ore........
PhHadolph*a,Ae
lot'Is this week

614

Mon.
8S8

Tues.
507

......
2,429
148
1,286

......
136

1,181
630

5,042
2

753

499

.....
307

.....
25
......
410
....... .
......}
1,084
471
273
6,876

Wed.

Thurs.

Fri.

Total.

680
......
734
353

2,516
2,381
1,372
495

6,802"
2,384
12 .03T
1,64S*

341
.........
144
830
.... ! .... . . 1
153
72
j

697
743
385
......
201
___„•
430

4,576743
1,826-

1,597
......
1,279 ;
6
1,000

;

24
......j
42.

165
.....
459
491
......
......j
____ *
580 1,222

198212
......
......
...... !
622 1 1,003

......

......

286,
5,264

......
73:
7,901:

. .. .

257 ;

60

658
.......
2 ,2 0 0

342
342:
. . . . . . 1 1,08-1
4,565
661
781
78
1,132
181

5.189 , 4,352 10,491

10,07®

The follow ing shows the week’s total receipts, the total sine e
Pork has been quiet, but at the close was in active demand
at film prices, closing at $9 23.#.$9 SO for old mess. $10@M9 25 Sept. 1, 189-5, stud the stock to-night, compared w ith last year >
for new do, $10 35@$10 50 for fam ily and fit) M ta jll 75 for
1895-96.
1894-95.
Stock.
‘ b olt clear. Cut meats have been quiet and without change?,
Receipts to
Thu1 Since Sep, This Since Sep.
closing at 4 »4 ® 5 e.for pickled bellies, I2#10 lb#, average, 4 <jc.
April 17.
1890.
1995.
Week. 1, 1895.
Week. 1, 1894.
for pickled shoulders and
9c. f..r pickled hams. Beef
has betn quiet but steady at $70$8 for extra mess, $ 8 50® Galve#ton...
6.802 890,131 10,111 1,623,433
53,286
45,139!
$9 50 for packet, $9 50@$U for fam ily acd $15 / f l 7 for extra
Tex. C-.&o.
2.3-1 103,234
69,210
1,720
834
India mess. Beef hams have been unchanged at f!5 @ New Orica ns
12,037 1,692,800 11.064.2 460,714 178,979 263,500$15 59, Tallow has weakened slightly, closing with sellers Mobile.........
1,643: 189,431
1.149. 231,528
13,222!
20,816.
at 3,?8 e» Lard stearine has been quiet at 6 c, QJeo stearim- Florida........
29,909
90
21,773!
bas been easier, closing with sale** at ! !st'c. Cotton w d ml . Savannah...
4,’»76: 711.325
4,131 900,593,
43,427
25,597
bas been in light requi at but steadily held, cl* «ing at 2 ! 1 1 Rr'wirk.Ar
713 J 13,653
591 118,917
8,448
1,937
2 2 c. lor prime etude and 25l4t3‘2.V|e. for prime je llo ’s .
1,826 273,100
2,782 110,270
23,627
33,581
BiuP r has been quiet and lower, closing easy at 10*816c. for Charleston.
P.Royal.Ac
70,134
7,080 151,125
. .....
creamery. Cheese has also declined, closing quiet at o 'jM
658 162,923
075- 233,513
4,006
19,211
JOJ^e. for Stale factory, full cream. Fresh egg* have de­ Wilmington.
Wnub’ n.Ac.
.....
765
.....
920
clined and the close was easy at I lfX & ll 'Cc. for choice
Norfolk .......
2,206 310,597
3,838 451,0511:
19,829
35,080
Western.
110,99*1 2,000. 279,252
245
4,334
Brazil growths of coffee have received slightly Increased West Point..
N’ p*tN„Ae,
312
22,153
209
39,631
1,6391
586
attention, and early in tbe week prie s made some improve50.338
1,084
2,563: 131,485 147,3 43 208,957
ment, but Mib*r<|uentJv this was lo»t, closing uncbaogi-d at New Y ork...
4,505 > 100,475
0,733 117,288
13,000
20,800
18r;4c . for R io No. 7. Mild grade# have sold rather elo* ly, Rnaton.
78
623 108,471
46,297
6,827
but prices have held stea/iv. flood Cucu’ a quoted at 1 *;>'-. Baltimore...
17,052
39,29(1 3,202 120,132
1,13k
10.503
11,759
and standard Java at 23‘ ,c* Ther** has b*.B Considerable Phtladel.,Ac.
activity to the speculative dealings and prices advanced for
Total#...... 40,07*; 1,920.957 80,017 7, 317,925 -193,400 739.839
the distant deliverit s, o a t n e buying for European account.
In ord er th a t com p a rison m a r be m ade w ith oth er years, w o
A t tbe close there was a reactiottary m ovement, prompted by
b e lo w th e totui* a t lea d in g port*? for six season#.
the rte. ipt of lower "firm offers" and tvi-nker European ad­
vices, The follow ing were the final asking prices:
: Bemipts « l—( 1806,
1895.
1894.
1803.
1892.
1891.
April................12-80". I J u ly ..............13-2.V. i o m . .................li-OOe
May...................12-7SC. j A uk ...... ..........tt*7 »e

Nov ............... Hi «r

June................ 12-Sic. ! S ept________ ..I t -3 5 c . 1 Ileo.............. ..10'7<
Raw sugars have attracted considerable attention and anlcs
have been made at higher prices, closing at 4 •;<j. for centr fu
g a b , 86-deg. t»s», and 3?4c . # 6 :4c. for rauwoviulo 89-deg. t.sf.
Refined tg g a n have beet* in demand at
advance. Grant*lab d was quoted at 5J£d, Teas have been in moilerat* de­
mand and steady. Spices have been firm.
Only a limited amount o f business him been transacted in
Kentucky tobacco, but pii. es have been firm; ssles 175 l>lids.
Seed-leaf tobacco baa been to light r. quest but steady; suit? for
the week w ere 1.077 cases, a? follow s; 225 case# 1891 crop,
New England Havana. 8 <ifl6 c .; 100 cases 1892 crop. New
England Havana, 29<§S0e.; 132cases 1893 crop. GebhartV, 8 5 7
m * 100 case* 189»#top, Pennsylvania Havana. l l @ 1 2 e.; too
cams 1993 crop, Pennsylvania seed. 7®9c ; 150 canes 1895
crop, State Havana, | 9 # l5 c .; 130 cast-? 1898-91 c ro p s Wiscon­
sin Havana, 5@7c., and 1 0 0 cases 1894 crop, Pennsylvania

Havana, 11# 1 2 c.; also 750 halts Havana, Q8 c .# $ t

10,

and

200

■GalvWn Ac,
New Otl&mB
Mobile. . . . . .
, d&vaimali__
Ohaa'ton, &<•
Wllm'tou.Ao
Norfolk ,
W. Feint, Ike,
All others...

1M.80
12,037
1.643
1,576
1,320
659
2,206
342
7,602

17,837
24,061
1,149
4,431
0,862
675
2,338
2,959
10,802

0,431
13,99s
2,622
4,583
2,146’
544
6,601
2,849
4,823.

5,773
17,62 3
1,702.
0,317
1.250
84
3,604
701
5,830

3,807
17,350
1,541
5,894
1,260:
832
3,865
2,589
5,973

7,030
10,123
2,5699,701
9,012
348
5,993
3,176
10,713

Tot. this wk.

40.O7&

80,017

17,903

42,893,

43,207

04,733

Since Sept. 1 1920,957 7517,925 5*134,005 4714,274 6690,634 6508,775

The exports for the week ending this evening reach a total
of 79,045 bales, o f which i 1,4 i> were to Great Britain. 4,929
to f ranee and 11,631 to the rest o f the Continent, Below are,

Export*
from—

bales Sumatra. 4 0 c .# *1 90 in hood.
Tbe speculative dealings in the market for Straits tin have
been very limited, but prices have advanced slightly in re­ Galveston,..,,
sponse to steadier advices from abroad, closing steady at Tex. City, 4c,..

18’33#18'45c. Ingot copper has been advanced, hut the New Oi'leaiii..
close was dull, with Lake quoted nominally at 11c, Lead Mobile A Pea,

has been quiet but steady, cloting unchanged at 8 03c.
Spelter has been dull, <h sing at I-10Q-H.V. for donnstic.
r ig iron has been in moderate demand and steady at 1 1 *0 0 #
18’30c, for domestic.
Refined petroleum has further declined, closing at 6 80e. in
bbls., 4 W e. in bulk and 7 "70c. in cases; crude in bhjs. has
been nominal; naphtha unchanged at 8c. Grade certificate#
have been steady, clotting at |! 30 bid. Spirits turpentine has
been fairly active and firm at m ;«*£Se, Rosins have ad­
vanced sharply, closing firm at $1 8 5 « ! «0 for common and
good strained. Wool has rt ceived slightly increased at tention and prices have held firm. Hops have been quiet but
steady.

Savannah ,.,,.
Brunswick._
Charleston*..
Wilmington..,
Norfolk. ......
West Foiot..,.
N‘n't News, An
New Vorlt....
Boston,.,,,,..,
Baltimore- ...
Phitadelp
Total.......
Total. 1894-95.

Week EruttngApril 17, urn. FromSept l, 19^>, to Apr 17, 1800.
Exporfm to—
Exported to—
Q-rmt
COMl- Tolu Great f
1 Conti*
F
rance
lotah
Rrit’n.
nmt. Week. Britain. Fmncf^ %
c.eiu
trr 3,iW5
Bo.tso: 104,307 01^10.4
m
«i? .W'Ui 4,sn 40.0S* mjm
.$,150 i$n 10,118 *8,010 e«U»5SM,i®2! 4KUS#i 1,888,170
.....
msm\ ...... S 20,047 100,288
42,542 12,542 m,:m 20,310; 274m 339,878
50.381, ...... 2.1,059 71,810
00,980! ..... | 171,508 20-2,558
...... 40,l>5-<: 1,770! 98,706 132,531
■■M
.e.V.i ...... M.01M 51,031
......
0,930■: ...... ; .........
0,030
12.970, ......1 ........ 12,970
mb 8,806 IS,#i» 872.51*5, 38,83c'1 249,489 51I,8»S
TO 11,375 231,110j ......1 2,532 233,051
8,150 b,2m 62,035j 1*5131 00.C81 120,531
1,450 1,850 7,017i .....J 30,704 41*411
4,020 43.8$1 70,045 1,010,e03|4M,750|1,021,002 1,018,274
8.0*0 upm iiaiw 3.0i*.ISB'7*fl.S-J3 3.838.010 9.1101,878
.....

*,«7S
13.1.75
1,018

mi
m.m

ss.iea

* Including Port Royal,

THE CHRONICLE.

744

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at tne ports named. We add similar figures for
New York, which are prepared for our speoial use by Messrs.
Lambert & Barrows, Produce Exohange Building.
ON SHIPBOARD NOT CLEARED FOR—
A pril 17 at—

Leaving
Stock.

Other
Great
Britain. France. Foreign

Coastwise.

Total.

714 20,874
None.
None.
None.
None.
None.
5,000
None.
None.
None.
500
3,550
100
2,000
None.

279
3,261
None.
300
None.
2,300
None.
None.

31,452
3,281
None.
5,300
4,000
3.800
9,350
3,000

New Orleans..
G alveston.......
Bavannali.......
-Charleston.. .
M o b ile ............
N o r fo lk ..........
New Y o r k ----O ther p o rta ...
Total 18 96..

9,585
None.
None.
None.
4,000
1,000
5,700
6,000
26,285

40,532
Total 18 95..
T otal 1894.. | 35,193

147,527
41,857
25,597
18,327
9,222
16,029
137,993
31,671

31,924

6,160

65,183

428,223

3,967
4,409

37,360
47,951

15,522
11,631

97,381
99,184

642.458
587,917

The speculation in cotton for future delivery at this marke1
has shown rather more animation for the week under review,
vet no considerable activity can be reported, nor has there
been any wide fluctuations in values. The weat her report in
the last C h r o n i c l e was rather more favorable to planting
operations than had been expected, and on Saturday value g
■were easier; but on Monday a weak opening was followed by
some appearance of buoyancy, due to the small movement and
the strong statistical position. It is believed that most of the
room traders became “ long” of the market. But they were
not able to bring in much “ outside” support, and
in the course of Tuesday and Wednesday it was a struggling,
uncertain market, with little to recommend it to the casual
operator. Toward the close of Thursday there was renewed
buying for the “ lon g” account, but not much spirit to the
dealings, the statistical position continuing to be the chief
source of strength. The weather reports were not considered
of much significance either way. To-day Liverpool, though
reporting some improvement, was disappointing to the “ bull ”
party, and some selling to realize followed, under which
values gave way 2@3 points from last night’s closing, but the
offerings were quickly absorbed and the early decline was
soon recovered. Perhaps better reports from the dry goods
trade were an element of strength. In the afternoon
the market was very dull and prices receded a few points
from the best figures. The close was quiet and final
prices were S@12 points higher than last Friday
for this crop, 3 points dearer for the early months
of the next crop and 3@4 points lower for the winter months.
Cotton on the spot was advanced l-16c. yesterday. To-day
the market was quiet and unchanged at 7 15 16c for middling
uplands.
The total sales for for ward delivery for the week are 418,900
Dales. For immediate delivery the total sales foot up this week
3,776 bales, including 1,317 for export, 1,659 for consumption.
— for speculation and 800 on contract. The following are
the official quotations for each day o f the past week April 11 to April 17.
Rates on and off middling, as established Nov. 22, 1893,
and revised Dec. 11, 1895, by the Revision Committee at which
grades other than middling may be delivered on contract:
G ood O r d in a r y ...................o. 1
ofl.
G ood M id d lin g T i n g e d .. .
Even.
S triot M id d lin w
g S t...a in e
. d ..
.... oil.
M id d lin g S ta in e d ................. %
oil.
Striot L o w M id . S t a in e d .. 2 osl, oil.
L o w M id d lin g S ta in e d ___ l q
ofl.

On this basis the prices for a few of the grades would be as
follows.
UPLANDS.

S a t.

G ood O rd in a ry ____________ _____
L o w M id d lin g ....................................

6 7s
7q
7 7a
8 3 ,e
8 4i

G ood M id d lin g .................................
M iddling F a ir....................................
GULF.

[d o ll T u e »
6 7s
7ka
V *

8 be
8%

6 7s
7q
7 78
83l8
8%

W ed

Th.

6 78
7kj
7 7a
8*16
8%

6 3 ib
7 » is
8q
813,6

615.6
7 9.6
7 1 5 l8
8q

M o il T u e »

W ed

Th.

Fr

7%
7%
sq

7%
7%
8h j

7h3
7%
8%

7 -ba

G ood M iddling.................................
M iddling F a ir....................................

7%
7%
8^

|7‘ 6

I 7’ 6

S’ 18

f 10

8 318
8*2
9 l ie

73 6
7 i3 ,0
8 Hie
8^2
9 Jie

S T A IN E D .

S a t.

M on T n e«

W ed

Th.

Fr.

L o w M id d lin g ...................................
M id d lin g ... ........................... .........
S trict M id d lin g ................................
G ood M iddling T in g e d ...............

6^8
7q
7 - 32
T ’8

6=8
7q
Z i ‘ 32
7 78

63s
7q
? 78S2

65s
®*l 16
7*3
Z®18
72! 32 * “ ’S2
715,0
7 7a

6 ” ia
79 6
723 ,2
715,6

MARKET AND SALES.
SPOT MARKET
CLOSED.

Sat’day J Dull ................
Monday. Dull....................
Tuesday F irm .................
W ed’day iuiet
... .
Thur’d’yh^uiet at i l6 adv.
F r id a y ..'D u ll..................
T otal.! ..

SALES OF SPOT AND CONTRACT.
Ex­
port.
1,317

....

1.317

Con- Spec-\ Consump. ut'l'nl trad.
204
174
719
211
1G5
156
1,659

....
. ...
....

....

Total.

Sales of
Futures.

204
1,491
919
841
165
156

26,500
87,300
75,300
69,600
85,200
75,000

800 3,776

418.900

200
600

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p*

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G ood O rd in ary....... .........................
L o w M i d d lin g .................................

T h e Sales and P rices of F utures at New York are
shown by the following comprehensive table.
x i
^
a
h
T
as?
“
S
w
£.
Q -0 £ 2. O-a 00S' QH3©®
Q t JOcc: qpqqcc O ^ o o £
ft
S’ S.S.g* o 2 i =
5*2.SL£*
gs.2LP
* c
■x. o o
cd r. ® j
i 7 (5
® ® a © (A ® ® © CDo '® 2
**! S'
—
—■
- ® on p.
-mo C’
® ® se tr ®» £
S 3 ® -S3®* jp 3 ® - ®
P ® -1 ^
p ® - '-i
p ® ® sc
- *0 ©^ ^
p (*•*<
* %£>
£.§h2 ; e.g-1
2

814

F a i r . . . . . . ..............................o. 1M
on.
M iddling F a ir................ ........ 78
on.
Strict G ood M id d lin g ........ %
on .
G ood M iddling...................... “ 10 on.
Strict Low M id d lin
g .......... °i6
3le oft.
ling..........
L o w M id d lin g .........................
q off.
Striot G o o d O rd in a ry ........ 11 ib off.

[V o l . L X II.

1 1 x;
i.
1 ®: ?

11 X
i.5
I
f

p
i.
c*5
1 ®: ?

I 1

cc
C3
0 -4 0 0 -4 0 0 0
to to ° to to to ° to
^ 0- cccc
>
►
1 l i. 1 1 ^
tX5
(X3
1® ; f
1 ®; ®

II

II
II

i.

II

^
Ob

II

H

II

j

^

ll

I8

I8
II

II

II

II

I I

ino.udea aaies in Seineinner, far seatem ner. Lo.
; S eptem ber,
October, tor October, i l ■ > : Septoiuber-November. t ir N ovem ber,
417,200: September-Deeember, ( r December, 1.097,200: Septem berJ a n u a iy,for Jaunary. 11.143,100; SeptMulmr-Febrnary, f >r February,
627,700; Sepiember-Ma cb, fu. March 11,042,900.
1^ * We Uave inoluded in m e above table, and shall continue eaoh
seek to give, the average price o f futures each day fo r each m onth. It
sill be found under each day follow ing the abbreviation " A v’g e.” Tile
average for eaoh month for the week is also given at bottom o f table.

t W For exciistngMS see page 747.
of C otton to-night, as made up by cable
and telegraph is as follows. The Continental stocks, as well as
those for Great Britain and the afloat are this week’s returns
»nd consequently all the European figures are brought down
to Thursday evening. But to make the totals the complete
figures for to-night (Apr. 17), we aild the item of exports from
the United States, including in it the exports of Friday only:
T he V isible Su p p l y

THE CHRONICLE.

A p r il IS. 15%.J

1896.
1895
1891.
1893.
Swot at Liverpool...... bale*. 1,157.000 1,723.0001,732,000 1,575,090

745

Q u o t a t io n s f o r M id d l in g C o t t o n a t O t h e r M a r k e t s . —

Below are closing quotations of middling cotton at Southern
and other principal cotton markets for each day of the week.

7,000
°.0 °O
a> °°°
5,000
Stock at L ondon.......................
Total Great Britain stock. 1,134,000 1,728.000 1,711,000 1,580,000
14.000
27.000
Stock at H am bu rg..................
u lS ’SSn 199.000 179.000
Stock at B rem en .....................
2'?7Vw> 3? o n o o
18.000
16.000
Stock at A m sterdam ...............
10’2S2
19'*KK
200
300
Stock at R otterda m ................
r“
i o non
11,000
19.000
Stock at A ntw erp....................
.4 n ’? S o aa T oon 463.000 414.000
Stock at Havre ..................... 'U 2 '$ 9 ?
-Kuv!
8,000
7,000
Stock at M arseilles..................
J j g
rnn'non
99.000
65.000
Stock at B arcelona..................
83,000 100.000
13.000
16.000
Stock at G e n o a .................... 7.J.000
39,000
17.000
19,000
26,000
13,000
Stock at T r ie s t e .....................
831.200 773,800
1,035.200 _______
Total Continental stocks.. 807.900 R___________
Total European s to ck s.... 1,971,200 2,763,20O 2,572,200 2,353,300
In d ia S 3 S tfo r E u r o p e
168,000 101,000 210,000 145,000
Auier.eottou afloat for Europe 280,000 410,000 223,000 .,43,000
Egypt, Bra2 il.*e.,aftt.for E'pe
14.000
21.000
29,000
44,000
S toek tn United States ports . 493.406 739,839 6 3 .,1 0 1
.02,832
Stuck in V. S. interior towns.. 263,609 212,773 203,041 3 0 /,3 3 6
United State* exports to-day.
14,673
24,819 _
Total visible s u p p l y . 3,204,890 4,272,631 3,935,2b4 3,809,183
O f the above, totals o f A m erican and other A sc rip tio n s are as follow $:

j
April 17.

OLOSISO QUJTATIOS3 FOB JtUODLtXa COTTON OS—
A’aiur.

Mon.

Tires.

Wednes.

Fri.

Thurs.

Galveston..
7%
7%
7%
7Hw
7‘ lj!
71*16
New Orleans
7t.is
7ili-j
71.1 ;
71'ie
7**16
71‘18
<%
7%
Mobile........
7 k!
7 hi
7L
7%
7%
J>U
7
Savannah...
7'»,«7H
7»w
79,8
Charleston..
7^
7ks
7Js
7H
7%
7#
75g
7%
7%
Wilmington.
7%
7=8
7^8
7%
Norfolk......
7®8
7*1,6
7%
7=8
71*16
7%
Boston........
7%
75j
7%
7«r«
r*
S
8
Baltimore. .
8
8
S
8
Philadelphia
8%
Sis
8%
8%
6318
Augusta......
71‘ u
' 5*10
7“ l«
7 ‘-‘ 16
711,8
7 *s
Memphis__
7hs
7 >s
7*3
7hi
7»W
St. Louis__
7%
7»i,
7%
7H
7=8
7M6
7%
7k
7%
Houston__
7%
7%
T-H
7 =*
Cincinnati..
7=8
7=s
7=8
7=8
7=8
7t»!
8
3
Louisville...
8
'V
7 5 ‘*
The closing quotations to-day (Friday) at other important
Southern markets were as follows. *
71a
A tla n ta............
7M i Eufaola.........
~h Natchez..........
Charlotte........ 7% 1 Little R o o k ...
7i*
?*i R aleig h ............
Columbus, 6 a. 7*4 \M ontgom ery..
7La Selma................
7%
7% Shreveport.......
Columbus. Miss 7*; I N ash ville.......
7kj
Receipts from the Plantations.—The following table
indicates the actual movement each week from the plantations.
The figures do not include overland receipts nor Southern
consumption; they are simply a statement of the weekly
movement from the plantations of that part of the crop which
Bnally reaches the market through the outports.

U r S S r t S & t * . ............ bales
983,000 1,603,000 1,469,000 1,346.000
Uontiaental stock s.........- ........ 699,000 955,000 710,000
/,0 00
Am erican afloat fo r Europe... 280,000 410,000 228,000 248,000
United States stoelt...............
493,406 739,839 687,101 702,882
United States interioretooka. 263,609 212,773 203,041 80?,836
Doited States exports to-day.
14,6, o
-4 .8 1 9
5 ,9 .2
,,1 65
Total A m erican...................2,733,690 3,945,431 3.300,064 3.283,383
liK S S fjS ft t ^ Z
. .
174,000 119.000 263.000 229.000
5,000
London stock ......... .
7,000
6,000
9,000
06,300
Continental stock*.......... .
109,200
80,200 121,200
145.000
India afloat fur E urope..........
163,000 101,000 210,000
44,000
E g rp t, Brazil, Ac,, afloat.......
14,000
21.000
29,00*1
" Total East India; A c ........ 471,200 327.200 632,200 519,300
..
T otal A m erican .................. 2,733,690 3,945,431 3,303,064 3,238,833
T otal risible e m p t y ......... 3,204,390 4,272,63
4%d.
41, „d.
3*i«4.
MiddLlng Upland, L iverpool..
IVI
7V>,
M iddling V viand, New Y o r k .
? l* i A
55,sd.
6,& K
l'? £
E gypt i rood Brown. U vetp ool
6*ad.
6Ad.
5 %d.
Psruv.Rougii Good. Liverpool
6».«d.
4 L ed.
51i ’4 :
Broach Fine, L iverp ool...........
4 ic<l
4*sd.
4<iad.
TlnnereU y Good, L iv e rp o o l..
4%d.
%

ir«jc
Ending-

Receipt*i at the Ports, j St'h at Interior Towns.{Rec'pts from Plant1ns.
j 1SML j i m . | 1890, j m

1805. j 1890. j 1894. 1895. j 1890.
49,283 97,497 49,884
31,006 US,993 41,009
24,103 84.366 58,548
33,655 08,751 37,600
88.688
44,912

Siefcu I57 7J l i J a o S s S l 71,518; 304,814 352,976 302,631;
“ SO......! 49,555; 123,133 69,400 S87.16S 344*880 88M8S
•• 2 7 .,...1 45,292 U5.470 70,237 265,960 323.982 316,404j
Apr. 3....... 1 54,279 110,767 60.202: 243.312 275.916 293,982 ‘
£3P The imports into Continent*! ports th.> past week have
** 10..,.. 63,867 93,523 57,607 810,173:247,840J£80.927.
b e e n 89,000 b a le s.
** 17,.,.. 47,903 80,617 40,070 203,041 212.778fa03.6O9

38,771

W ill

22.758

The above figures in lieate a decrease in the cotton in sight
The above statement sliows; t.—That the total receipts
to-night of 1,067,741 bales a* compared with the same date
of 1895, a falling off of 731,874 bales from the corresponding from the plantations since Sept. 1, 1893, are 5, 151,886 bales; in
1894 95 were 7,618,368 bales; in 1893-94 were 5,780.830 bales.
date of 1894 and a decrease of 613,293 Dales from 1894.
2. —That although the receipts at the outports the past week
A t the Interior Towns the movement—that is the receipts were 49,076 bales, the actual movement from plantations was
for the week and since September 1, the shipments for t h e only 20,738 teles, the balance being taken from the stocks at
w e e k and the stocks to-night, and the same items for th e the ulterior towns. Last year the receipts from the plantation s
corresponding period of 1894-25—to set out in detail below.
for the week were 45,54! bales and for 1894 they were
88,774 bales.
O v e r l a n d M o v e m e n t t o r t h e W e e k a n d S i n c e S e p t . 1.—

g m o sag
|
21

1805-96.

¥

#. rft

P Ip

&. « —
p

p

«*......
p

•-»
J 1*5© X to p p p P ; * Z © ® to

© I ti4fi»*-**5 J:M-ks5V*«-k »V n

%

•

f
»■*» i; -2

*

c. »i

* l; * b m<•5 V ai'i :*p. - c ' *-5

• *•

a

i

Z.
%

§ 1
«-!
tS
1

is —
itr: £ p V ,: tft —X u '-Stft ft ft WISIftft*ft xifttoft-x:
T. *1 « : ft*1C ft to: X
is - Ii- ft5*ft ft*ft*ft ft ft -a >1ISQCft ft**kft ft X ft ft*tft Ce* <3tftft
ft
©■«»o *- *
*
m to tft —-—m *
*—*£»;* ft

in .
•g
- os
~ ?
r ,^

*»— O p p p p p -J —toft f t t f t ^ - 5
*ft ft “ ‘-vito tft ft ft ft’ ft
e ft t
f t
' -a
to ft to '-i “*w *-*ft ft ft -a —*j V1- — to O t; <—ft to *x ft C tft ft 4- IS -» 5 ft ft to to ft to —-ftix — —u —t;

LOUIS........ ....................... I
Vi» Cairo...................
V!* Parker C ity............................

3.776 483.929 11,351
2,325
1,424 222,061
171,
18,071]
600

Via L ouisville................................
Via C incinnati.............................

1,010
1,335

Via Evansville.........................

Via other routes, AO..........— ;
Total eross overland....... .......
Dtii ucltkipm enlt Overland to N. Y-, Boston, A c ..
Between tabu lor t o w n s .....___
Inland, Ac., from South------ ...
Total to be deducted.

.
- I *
c

“. W
*•.v « t; s & «- sc &. © ©

J

v

1

> —

!|

SI y s i r 3 s 2 S 8 8 l 2 g f 5 £ s 5 s s s § l £ 2 g | f g S s !
? 1 •5 b t| | S 2 | s 2 | | 2 2 2 S l'4 * '5 ? S £ 2 | | p 3 | £ hs5
5
“3 :
©■ I
*- '
» i

--- --- - —-------— ------------ -------- -------------f - ---- V— ^
—
»>*
A*
f m 2H 3,
»
—
*»
fir f t p
p
i g
*~
^
V
f t a
s
a»Be«^» '* a.V © mcj*&5 j
*7
*•—v 15ft ft ft ft ft ft ft ft x © *5ft ft* ft ft ri ft ft ft fi « O B 43ft*ft p S ft ft

EfSwte

-J—

*-

ft-

5 |

<» > ft ft ft <$ x — ft ft *5 ft ft *•»—.X © A. -I —ft ft S3*O**5—ft X ft ft ft ft j „
-■* i —* © ft X 65 —ft O ft ISft <**X ft M—f ^-1 ft ft ft ft ft ft »5Mft X * 1 7

<ft

*> —ft ft ft ft JR C O ft x x tc — ft / x c •ft to ft j x ft m J j . ft eft ft . ft

*■ Loiilufffl# ftietipe* “
I Till* j m f n
i %m s i

Since
Sept. L

■

total not overland*..

1,802;

942;

1,6*1

121,057
89,120]

81,885;

5,031
5,108
427

863,576
316,493
32.945
3,725
171,356
162,592
135,808

10,510; 1,016,707. 27,002 1,686,493
6,859

87;

610

245,401
3,153
43,412

15,621 476,876
702
28,812
1,372;
64,462

T .556, 291,969; 17,785; 570,150
2.954. 721.7:;.

10. J17 1,11-.

* Including m ovem ent by ml to Cana

(I3

■«*m *•; K w *5 *- « x ** v a. is © *£ %

ir«k.

§.%

f t ft

3 3 8 8 ^ 3 ? ^ i 5 S § i ? £ § £ S i S S S l i 'i 8 S S g 3 8

Week,

1891-95.

Since
Sept. 1.

in both year*.

ilin rm mm t o t U nwlmtef, B. O.

The above totals sho w that the intenor sto jki h »ve decreamd
during the week 11,318 teles and are now 50,836 teles more
than at same period last year. The receipts at all the towns
have been 01,188 biles less than same week last year and since
Sept. 1 are 2.921,051 bilesfiMM than for same tinie in 1894-93.

The foregoing shows that the week's net overland movement
this year has been 2,951 bales, against 10,117 bales for the
week in 1895, and that for the season to date the aggregate net
overland exhibits a falling off from a year ago of 891,665 bales.
In Sight and Spinner,‘
Takings.

1895-96.
ITrr/r.

J ’" " ' ',

1894-95.
! Week.

Since
S'pi. T.

Reovlpts at ports to A r. 17........ 40.076 4,920.957 80,617 7,517,925
Not overland to Apr 17...............
2.954 724,738. 10,117 1,116,343
South**# eonsumptlon to Apr. I 7 i 17,01X1 636,000, 14,000 . 565,000
60,0311 6,231,695 104.734
Interior stOvks in e x c e s s ............. *•17.31
17,318] 230,909 *35,076

toft
II

gc I m
to ic«-“*cto — zinc** to
?. i © © *•sb*—» k m
*71© tonm © © * - i x w#•« c.
h , —® i u j : © > © © £ .* -© —
j

A pril 17,

13
ft
« i p * a? ft*

© j
to*to
o»©

«

We give below a statement showing the overland movement
to , Lh ■week and since September 1, .Vs the returns reach us
by telegraph late Friday night it is impossible to enter so
largely into detail as in our regular monthly report, but all
the principal matters of interest are given. This weekly
publication is of course supplementary to the more extended
monthly statements. The results for the week ending Apr. 17.
and since Sept. 1 in the last two years are as follows.

Came Into sight during week.
Total In sight Apr. 17.............

42,712
i 69,658
........ 6,512,604
......... 9,354,706

Nortlt'n spinnerstak'gs to A pr. 17
Decrease daring week.

1.758 1,113,287! 47,214 1,972,507

It will be seen by the above that there has come into sight
during the week 42,7! 2 bales, against 69,658 bales for the
same week of 1895, and that the decrease in amount in sight
to-night as compared with last year is 2,343,103 baies

716

THE CHRONICLE

W eather R eports b y T e leg raph . —Reports to us by tele­
graph this evening from the South denote that in most sec­
tions the weather has been favorable during the week and
thatplantlng is general and has made good progress as a rule.
At some points in Louisiana. Mississippi, Arkansas and
Tenressee the precipitation has been heavy, but along the A t­
lantic there has been little or no moisture. Elsewhere the
rainfall has teen light. Early plantings are reported to be
coming up in a number of districts.
Galveston, Texas.—It has rained on three days of the week,
the tainfall beiDg one inch and fourteen hundredths. The
thermometer has averaged 04, ranging from 54 to 75.
Palestine. Texas.—There has been rain on one day during
the week, the precipitation reaching fifty hundredths of an
inch. The thermometer has ranged from 56 to 84, averaging 70.
Huntsville, Texas.— We have had rain on two days of the
week, the rainfall reaching sixty-five hundredths of an inch.
Average thermometer 69, highest 84, lowest 54.
Dallas, Texas.—Erin has faHen on one day of the week, to
the extent of forty-five hundredths of an inch. The ther
mcmeter has averaged 6 8 , the highest being 8 6 and the
lowest 50.
San Antonio, Texas.—It has rained on one day of the week,
the precipitation reaching forty hundredths of an inch. The
thermometer has averaged 6 8 , ranging from 53 to 84.
Luling, Texas.—We have had rain on one day during the
week, the rainfall being forty-five hundredths of an inch.
The thermometer has ranged from 54 to 82, av. raging 6 8 .
Columbia, lexa s.—There has been rain on three days of the
week, the precipitation being one inch and forty-four hun­
dredths. Average thermometer 67, highest 81 and lowest 53.
Cuero, Texas.—Telegram not received.
Brenham, Texas.—Rain has fallen on four days of the past
week to the extent of ninety-five hundredths of an inch. The
thermometer has averaged 6 8 , ranging from 52 to 83.
Belton, T&cas.—Telegram not received.
Weatherford, Texas—There has been rain on two day3
during the week, to the extent of one inch and twenty-five
hundredths. The thermrmeter has averaged 6 6 , the highest
being 85 and the lowist 48.
Temple, Texas.—We have had rain on two days of the
past week, the rainfall reaching eighty-five hundredths of
an inch. Average thermometer 69, highest 84 and lowest 54.
New Orleans, Louisiana.—It has rained on one day of the
week, to the extent of one inch and fifty-four hundred ths.
The thermometer has averaged 71.
Shreveport, Louisiana.—It has rained on four days of the
week, the precipitation being three inches and sixty-four
hundredths. The thermometer has ranged from 53 to 81,
averaging 6 6 .
Columbus, Mississippi.—Rain has fallen on one day of the
week to the extent of one inch and eighty-six hundredths.
Average thermometer 65, highest 8 6 and lo west 48.
Leland, Mississippi.—There has been rain during the week
to the extent of two inches The thermometer has averaged
67’9, the highest being 81 and the lowest 58.
Vicksburg, Mississippi.—It has rained on one day of (he
week, the precipitation reaching'one inch and sixty-three
hundredths. The thermometer has averaged 71, ranging
from 58 to 84.
Little Bock, Arkansas.—It has rained on two days of the
week, the rainfall reaching one inch and eighty-eight hun­
dredths. The thermometer has ranged from 54 to 83, aver­
aging 70.
Helena, Arkansas. —It has rained heavily on one day during
the week, to the extent of two inches and eevemy-four hun­
dredths. There is no danger of ovei flow at present. Aver­
age thermometer 70, highest 82 and lowest 52.
Memphis, Tennessee.—Seme corn is up, and cotton-planting
iB in progress, but the season is late. We had heavy and gen­
eral rain on Monday, to the extent of one inch and seventyeight hundredths.
The liver is twenty-nine feet on the
gauge ard will now fall rapidly. The thermometer has aver­
aged 70‘8, the highest being 83 4 and the lowest 57 4.
Nashville, Tennessee.—It has rained during the week to the
extent of sixteen hundredths of an inch. The thermometer
has averaged 64, ranging from 46 to 85.
Mobile, Alabama.— Planting is progressing actively. We
have had rain on two days of the week, the rainfall reaching
one inch and fifteen hundredths. The thermometer has
ranged from 60 to 78, averaging 69.
Montgomery, Alabama.—Farmers are taking advantage of
the excellent warm weather and are working continuously.
Ccrn is up ard doing finely, and cotton is coming up well. Fer­
tilizers show a largely increased use and there will be a large
addition to cotton acreage. There has been light rain on
two days of the week, the rainfall being fourteen hundredths
of an inch. Average thermometer 72, highest 83, lowest 61.
Selma, Alabama.— We have had rain on two days of the
week, the precipitation fceing one inch and four hundredths.
The theimometer has averaged 67, the highest being 81 and
the lowest 56.
Madison, Florida.—It has been dry all the week. The
thermometer has averaged 75, ranging from 63 to 85.
^
Columbus, Georgia.—There has been no rain the past
week. The thermometer has ranged from 51 to 82, averag­
ing 70.
Savannah, Georgia.—It has been dry all the week. Aver­
age thermometer 69, highest 84 and lowest 53.
|^Augusta, Georgia.—There has been rain on one day during

fV ot. LXII.

the week, the rainfall being five hundredths o f an inch.
The thermometer has averaged 69, ranging from 45 to 90.
Charleston, South Carolina.—Dry weather has prevailed all
the week, The thermometer has ranged from 51 to 81, a ver­
aging 67.
Stateburg, South Carolina.—Cotton-planting is progressing
well. Rain has fallen lightly on one night during the week,
the precipitation reaching seventeen hundredths of an inch.
The thermometer has averaged 69T, the highest being 8 6 and
the lowest 47.
Greenwood, South Carolina— Cotton-planting has just been
commenced. The weather is rather dry, no rain having fallen
the past week. The thermometer has averaged 71, ranging
from 52 to 92,
Wilson, North Carolina.—Cotton-planting has commenced
in earnest. We have had no rain during the week. The
thermometer has ranged from 44 to 90, averaging 69.
The following statement we have also received by telegraph,
showing the height o f the rivers at the points named at
8 o’clock April 16, 1896, and April 18, 1895.
Apr. 16, ’96- Apr. 18, ’95.
Feet.
Feet.
New O rleans.......
14 0
7-7
M em phis..............
29*5
16*0
Nashville..............
7-8
269
S hreveport........... .........A bove zero o f gauge.
10*2
0-8
Vicksburg............ .........A bove zero o f gauge
377
19-1
J d t e B u t t s , B a g g i n g , & c .— The market for jute bagging
has been featureless during the week under review. The de­
mand has been light, but prices have been quite steadily held
at 3J£c. for 1% lbs., 4J-£c. for 2 lbs. and 4%o. for standtrd
gradts. Car-load lots ot standard brands are quoted at 3?4c.
for \% lbs., 4l;jc. for 3 lbs. a u i 4%c. for 2 ) 4 los., f. o. b. at
New York. Jute butts have been dull at l_l-16c. for paper
quality and lj^c. for mixing on tlae spit.
I n d ia C o t t o n M o v e m e n t F r o m a l l P o r t s .— The receipts,
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to April 16.
B O M B A Y R E C E IPT S AND SH IPM E N TS F O B F O U R Y E A R S .

Shipments this wwk

Shipments since Sept. 1.

Great
te a r Great Conti­
BriVn nent. Total. Britain
’95-6 5.000 5,000! 10,000
’94 5 2.000 24,000! 26,000
'93-4 4,000 21.000 25,000
’ 92-3
22.000122.000

56.000
5,000
40.000
26.000

Conti­
nent.

Total.

460.000
196.000
462.000
428.000

516.000
201.000
502.000
454.000

Receipts.
This
Week.

Since
Sept. 1.

90.000 1,557,000
70.000 784,000
75.00011.193.000
77,000)1,021,000

According to the foregoing Bombay appears to show
an increase compared with last year in the week’s receipts of
2 0 ,0 0 0 bales and a decrease in shipments of 1 6 ,0 0 ) bales, and
the shipments since Sept. 1 show an increase of 315,000 bales.
The movement at Calcutta, Madras and other India ports for
the last reported week and since the 1st of September, for tw o
years, has been as follows.' “ Other ports” cover Ceylon,
Tuticorin, Kurrachee and Coconada.
Shipments f o r the week.
Great
Britain.

Conti­
nent.

Shipments since Sept. 1.

Total.

Great
Britain.

Continent.

9,000
10,000

40.000
17.000

49.000
27.000

10,000
13.000

7,000
12.000

17.000
25.000

Total.

Calcutta—
1895-96...
.........
1894- 95 ...
Madras—
18959 6 ...
1894-95...
All others—
1895-96... . 1,000
1894-95...

3.000
1.000

4.000
1.000

12.000
15,000

41.000
31.000

53.000
46.000

Total all—
1895-96...
1894-95...

5.000
4.000

6,000
4,000

3L,000
38,000

88,000
60,000

119,000
98,000

2,000
3,000

1,000

2,000
3,000

EXPORTS TO EUROPE FROM ALL INDIA.

1895-96.

1894-95.

1893-94.

Shipments
to all Europe
from —

This
week.

Since
Sept. 1.

This
week.

Since
Sept. 1.

This
week.

Since
Sept. 1.

All other ports

10,000
6,000

516.000
119.000

26,000
4,000

201,000
98,000

25,000
7,000

502.000
156.000

T ota l.........

16,000

635,000

30,000

299,000

32,000

658,000

A l e x a n d r i a R e c e i p t s a n d S h i p m e n t s .— Through

arrange­
ments we have made with Messrs. Davies, Benachi & Co., o f
Liverpool and Alexandria, we now receive a weekly cable o f
the movements of cotton at Alexandria, Egypt. The following
are the receipts and shipments for the pist week and for the
corresponding week of the previous two years.
A lexandria. Egypt,
A pril 15.
Receipts (cantars*)....
This w e ek ....
Since Sept. 1

Exports (bales)—
To L iv erp ool............
To Conti n en tl..........
Total E urope.........

1895-96.

1894-95.

1893-94.

26,000
5,151,000

17,000
4,496,000

45,000
4,711,000

! This 1 Since ’ This
Since
| week. Sept. 1. week. \Sept. 1.

This
Since
week. Sept. 1.

3.0 00301.000 3,000:233,000
4.000
271,000
4,000j287,000

6.000 288,000
5,000 223,000

7.0001572.000

7,000|525,000 11,000 511,000

* A cau tar is 9 8 pounds.

t Of wliioh to \.niorioain 1395 96, 49,0L7 bales; in 1894-95, 3 7 ,6 2 0
bales; in L893-94,15,964 bales.

APRIL 18, 1896.]

THE CHRONICLE.

M a n c h e s t e r M u s k e t .— Oar report received by cable to n igh t
from Manchester states that the market is firm for both
yarns and shirtings. The demine! for India is poor. We
give the prices for to-eUy rwlow and leave tnose for previous
weeks of this and last year fo r com parison:

1395.

1896.

8*4 lbs. Shirt­ Ootl'n
8H lbs. Shirt Coten
32.? C&p. inm, common' Mid. 32s Cop. ings, common Mid.
Tictit
to finest.
toft nest. 1 Uplds Ticisf.
Uplds
a.
67j*
6%
63s
01-3
6%

a. e. a.

»7>*
»7 %
®7%
itTL
a 7Aj
®7%

s. a.
4 4 »e §
4 rt2,r,i .s i3
4 m - t o S%
4 4 >93 6 8*3
4
8 *«
4 4L!*a 8*3

d.
d. s. d. s
d.
41% :5 S5*s 3 11 » 8
4 0 98
4I3.J OH
4% SI* « 3 f * c •1 0 ifi:
4 0*2056
■>518»6
5% * 6 % 4 1 a «
t ? 5 ', e » 6 ‘4 4 1*21*16

<L
1
l 'j
1*3
2
2*2
3*2

d.
ir ,
3%
37,8
3**,*

S e a Islan d C otton M o v e m e n t . — W e have received th s

(F riday) evening by telegraph from the various porta t ie
details o f the Sea Island cotton m ovement for the week. Ti e
receipts for the week ending to-night {April 17) and sinre
Sept. 1,189 ), the stocks to-night, and the same items for th,
corresi aiding periods o f 1891-97. are as follows.
1395-96.
Receipts to April 17,

Stock

1894-95.

This
8%nct
This i Since
week, j Sept. 1. week. Sept. 1. 1896

747

Total bales.
N ew O rleans —T o Liverpool, p er steamer Orion, 5,139_______
5,439

To Hamburg, per steamer Bicllta, 2,803 ........... .....................
To Narva, per ship Lizzie B lrrelL, 1.336..................................
To Venice, per steamer Tusttu, 7J 0 ..... .................................. .

2,803
4,838
710

To Bremen, per steamers Etbelrela, 2,380.....Ethiopia,
3.281........... - ........... .......... ........................... ..................
To Hamburg, per steamer Maristow, 573, .............................
Texas U irr—To Liverpool, per steamer O acia, 3,062..............
To Havre, per steamer Ethelreda, 249 ..................................
To Bremen, per steamer Etbelrefia, 800 ..

6,161
573
3,032
249

3ALVESTOK—To Havre. per - learner Ecbelreda, 2 ,4 6 6 ....... ..........

800
4,224

Mo b il e —To Liverpool, per atea nsr D Uraally. 4,221 .................

SiVASsya—To Btemen, per steamer Pocklio Won, 2 ,5 7 1 ..........
Brunsw ick —To Bremen, per steamer Humbert, 1,901 .............
W im is o ro s —To Liverpool, per steamer rttanlo, 4, 15 ) . ............
N o r fo l k — To Himbu-g. per steamers Carlton, 25b....Wes6-

2,571
1,904
4,150

h»U. 303................. .
.. .................. ......................................
Ne w p o r t N ew s —To Liverpool, per steamer Kanawha. 1,297..

1,297

thia, 1,276............................................................................
B a l t im o r e -T o Uverpoil, p-r steamer Tempi imore. 6 8 0 ........

2,493

55*

SOSTON—To Liverpool, per steamers Sayamoie. 1,223___Siy-

660
3,700

to Bremen, per steam tr Mii ielpsii. 3 .7 0 0 ...............................
“To Aotwero, ner ateamsr Sores Ktair, 150
PintiOELPHix - To Antwerp, per steamer Neilertnna, 15 *___
S an F r vscisco — To Japan, per steamer Peru, 1,00d ....
.......
T o t a l....................................................................... ............. .

150
150

1,000

...T j.s g i

The pirticu ltM o f theta shipments, arranged in our usual
form , are as follows.
Bremen

1895.

2,466

Ant-

Liver- £ LonA Bun werp d: South
p toL do t. Rxere. burg. Nam .. Ear tpe. Tapa a. Total.
4, 68 1,207
375 3,412
4)1 4.427 ■-item 13,943
710 ■nmmrnm 11.783
2,803 1,3 16
5,139
-•ritv
, __
___ r _____
2,466 6,731
9,200
249
800 ____ ____
3.01: ____,
4,031
___ ____ _ _____
___ r
4.224 ____ ,
4.2 24
____
2,571 --r-rm-rr ____
2,571
„„„„
_
1 ,9,4 ___ r
1,904
___
........
......
4.150
4,150 - -i- srn, ___r1r __ rir
____
550
55U
___. . ____
____
1,247
17297 - --TTT«
___
T
_
_
r„
2,499
2,409 -T- r-1150 ____ w
4,530
630 .T,___ ____ 3,700
____ ___ _ ......
150
150
1,000
.
.
.
.
.
.
.
.
.
.
.
.
1,000
— —*
25,337 1,837 3.0)0 22,141 5,537 5,137 1,0)0 63.892

New York.
BT, Orleans.
Salve »t«n„
O il Texas City
M obile___
49 74,34.5 9,801 2.301 Sivannab,.
86 89,219
TotaL ................
Bi-aaswlck
Theexporta for the week ending this evening reach a total SVilmlnyCn
o f 235 oales, of which 100 bales were to Great Britain. 125 Norfolk .. .
p t News
to France and — - to R eva l. an l the am ount forwarded to N
8 wtoo. ...
Northern mills has been 2 ) bales. Below are the exports BAltlmore..
fo r the week and since September 1 in 1895-96 and 18M-95.
rattadM’ a..
Sin Fran..
IV«* Ending Apr 17, Since Sept. 1,1895. tfortk'n Mi
T ota l....
Mxportt
Great F t-n « - , ,
StrpAOrtat Fr’ nce
from—
Below we a U th * o ls ir io o a i this weak o f vassets carryin g
Total. BriV n
Bril'n. AC.
Ac. ; ^°“ u - Week. BeptA
‘it ivaim ab.........................
Oaarleoton, Ac.................
Florida. A c ..__________

S ’ vano’ h, Ac
CbarTt'c.Ac
Florida, * 0.
New Y ork ..
•Boston. —
Baltimore..

‘ ' 100

Total........

"via

100

73 74,027
13 10,403
....
4,793

48 64,024 5.820
5,132 1,839
5,139 2,175

11,649 2,360 11.011
2,961
Oi 3,025
' T 25 13,717 3’,830' 17.597
100 0,075 ........ 0,0 75
13. 2,355
2.313

125

20 36,673

5,339:39.096

160 33,73 i

* IA considerable portion o f the Sea Island cotton shipped to
foreign ports goes vis New York, and some small amounts via
Burton and Baltimore. Instead o f including this cotton for
the week in w hich it leaves the Southern outports, w # follow
the same plan as in our regular table o f including: it when
actually exported from New Y ork, A c. The details o f the
shipments o f Sea Island cotton for the week w ill be found
under the head “ Shipping News,” on a subsequent page.
Quotations April 17 at Savannah, for Florid vs, com m on.
H e.; medium fins, Ui'^c.; choice, 16c.
Charleston, Carolina*, medium fine, 29c.; fine, 2if®38e.;
fu lly fine, 2 5 ;.; extra fine, 30i@27i*„
N ew Y ork : C otton E x c h a n g e —P r o p h i d A jisspm sst
to B y -L iw i Day .sated —The Cotton E xehm g* voted to-day
on an amend n»nt to tn « B f-L tw * in crea h d f Ith’ numb t of
the Committee on R>vMouof_Q rotations to fifteen.and provid­
ing that the C immittoe shall meet ooly on th-* th rd W e lnesd.iy o f N )vern i*r. instead o f monthly fo r nine months, as
now requ red. T h ) proposition was Io«t: a y e s ’ , nays 91,
E x c h a n o k s .— The follow ing exchanges have been m ade
during the week:
’ 50 pd lo exeh. 201 Nov. for Mar.

' 17 wi. to oxo* 100 No*, for Sipt.
Even 200 Mav for Aug.
Even t.ooo May for July,

Even 9 >0 July tor Aae.
•01 pd, to jakeft. 500 J no-' for M.vy.
•45 pd. to excii 310 Oct, for Am.
‘OS pd. *a exeb. 3,100 May tor Aug,
*01 p<J. to ox,-ii goo May for Ana.
■02 pil.tocxoh. $.000 Nov. for Boo.
01 pd. to Ctrl: lo o Nov. for lire.
0 ! E*>: to exch. 390 M*v fo r July.
•01pd. to sxch. 200 May for Apr,
*01 pd to cxrh. 1,1003.'inn for Aug.

Even lo o May for dans.

cotton from United State* ports, bringing our data dow n to
the latest dates.
OiLVusitruv - r o M ineb M t,- —April 1 1 -S to Miter -9 itn-ntoa. « 519
To Hatnbtsr^ - April 1 1- 9 t 'asnar a u n b r U ,2 0 6 .. April 18 -S ream ir
0 tv of O OttOMter. 477.
N ew O rlkana -C o Liverpool—April 17—Itoa ner.4 B arbullan, 150:

Eieo'rl -iaa, 3.000.

22506,743 0,323(43,060
. . . . . . lM ,?m

'Total 189-4 5 ........

31,571
" " ‘Jo 1.491
3,604

02 p<1. to exeb. »0C done for Aae.
•«7 pit t o e x o b .2 ) « f »n for Mar.
•51 pit. to ox.-h IMO Use, for June.
•0 ! pd. to excti. 201 May for dune.
Even 101 April f »r lag.
•3? puL to each. 20 >3 >_•. for da'y.
•03 pit. toexch, in'* May tor dans,
*58 pd, to e *«h„ 1,00 * NnV. ford 'm,
■03 pd, to exeb. 70U Mar for duty,
•58 p'l. 'o Sxcb lOO Nov. for Aua.
•02 pd to rxi’ li to o M ir for An*.
0 i pil. to rrch )'H> A >r. for A Hit.
•03 n-i. to exci* OK) M *r for Aug.
Even 100 April f J L r.

The exports o f cotton from the United
States the past week, as per latest mail returns, have reached
€3.89-2 bales. So far as the Southern ports are concerned these
are the same exports reported by telegraph an I published in
the C hronicle last Friday. W ith regard to New York we
Include the manifests of all vessels cleared up to Thursday.
S h ip p is o Ne w s .

Total bales.
4,066
606
<301

To 11 unbars - April 19—StAsmer C irlbl *, 1.661.
To Antwe p - A p r l l •—J «m» iter C »y » M omiao. 3.432.

To H ivre April 13 —Stun u « Lyot t, 1,5 >4

To 8 wool m i — vprlt 1 i - S t m no - B areasiiir el (Iran i 1 3,31 *

To O en n a-A p ril t ) —9te»m sr.* B »r« t* « w blQ .-ard e. 2,849; Eryptlan Prl loe. 4.313.
T I I d i b a o - April 10 -H irk A ttl-o, 300.
Savannah - T > Brem <n Apr,I l l —9t«a uer O lenoclill,® ,92 >.
To II im bars—April 14 - e :- .i u >r 8l«n oiM t. 50.

TO Norrkopl ig—April 13—Steamer Olenveob, 1.950.

T i S t Petewliu -g—April 11—35«aiu ir Q isnvoob, 3,6 SO.
T o II ire Mo is —Apr ! 11 -S im m er rtlolili. 997

ToIt'-aia —April ! 1—SteamerSimll 1, 1.97i.

BOR.*N—fa Livorp >ol—A on l 7 —3t«*'U ire Atmen'ftn. 4 .7 1 1: 0 jrlatbl
2,323 ...A o r il 1 ' —Simmera O itilon la. 1,437, U im n . 1.70) up
la id and lO lS s a ls la n l ...A o r tl 13 -8 t « im ir C a 11 iMOMtU, l .O i l
— April 15—steamer LAnoartrl m. 1,361.

To UaU—Aoril 13—Stea nor O lio, 179.

T o Yarmfiutu—Aprtl 1 0 -S tm in e rS ja M n . 1 0 ) . .A p r ! I t - I t i i u » r

T 1 0 1 1 int i. too.

B alt in o rk •Co L lverin ol—April 15 —Ntoam ir V.wli u iro, 1,913.

To Bremen -April IS -Ste.i nor Orpfeld, 3,2 1 1.

To It ttonl im -April 10—U eum r Cab itc >. 200,
Philadeli-iii A -To Llvorpe >1—April 10—Stoimsr IV iw U vl 401
3 an F ka.n («<3i> -T o da i»n —April S—Steaner Ojptto, 500 . . . April 16—
Stermer City of Rio tl» Jaaeln, 950.

Cotton freights the past weak have been a< follows.
Satur.

Mon.

Tues.

Liverpool, ttiFh.d.
>10
Do
local., if
....
Havre. .......... ..0 23(9*4
Dunkirk. _____ e
■. . .
8rein en .............c
201
Do
..........,c
...a
Hamburg ..........e
23 f
Do
May D.c. 22*41
191
Amsterdam.......r
Reval. v. Hainb d.
»44
3)1
Do v. frail...d.
B arcelona.......if.:
....
llen oa................ d.
291
Tries p t...............d.
Antwerp— . __ d.
ss.
(ihent, v. Antw’p.rf
Im

he
....
251
....
20*
....
231
22*0i
19t
Il*4
351
.. . .
291
*.,2
°44

ll »

125

To Bremen, par

___

a a h lM ii

. . ... ...

........ . . . . . . . . . . . . . . .

1* esrtm*, i,#s8 ...LaSlii

....

To Hum'jiirx, esr *t lamer Pru ..jx, 1.12 1..........
30 Antvi:*r;i. per stehsners F: i : C ,n t. t p .. e\ r . 1, ■.-ri.
351 ...... ........................................................... .........................

To fterem, pat steamer* Oaledrala, 1,94?. ...K iloV »ii-

b*l n ft.. 900....................................... ....................................
To NopSxs, per stiamar Cal i n k , 100....Kaiser *'i;h-ln

If.. 418.......................................... ................ ....................

T o T r ie s t e , p e r s t e i ia r r PlX| 1 ». 2 0 >.......

.................... ..........

To V-mie-, per .rsan,’" ') Oaie 10)1)A, Toy Plei;

71 • ... ...

3 76
1 .» »
1.123

451,
2,9)7
5 49
200

92t

he
....
251
....
201
....
231
22*ai
191

he
25t
20?
....
2 li
22*jl
191

351
....
29t
S,tt
tol
"b* .

331
....
291
5 18
&.»
V. ■

Erl.
he
....
251
______
201
....
231
22*41
19)
U«4
351
291
. 5e«
7*4

» Gent* net per too lbs.
L iverpoo l . —By oabi.r from Liverpool we taav,- the follow in g
statement o f t h e week’s sales, stocks, &•;., at tnatr port.

Nsw Tiiks-T o Uvevoool. n^r steamer Cube, 4,n66,
To H-iiLror ileimetfiylTao. 606, . ..... ..... ........
IfoL'iiwJ ib, pst steamer Micuiy-vi, 0 - 1 ____ ______
To l i t - , ;• r steamer La Bon gnsco 1. 2
11 .>1 1. . 1

25 ♦
.. ..
20f
.. . .
231
22*41
19t
» i« t
351
....
291
hi
hs

Wedncs. Thurs.

JfcA. 27 j A p ‘ . 3

Sales of the week......... .bales.
Of whiebexporters took ...
Of wblohspoonlatorstook ..
Sales American.

52,000

l.OOOj

46,000,
o3,000!
,v w ,

Apr. 10

39,000

30,00(1

1,000

soo

Apr. 17.
47.000
800

100

41.000
36.000
27,000
9,000
5,000
8.000
Forwaraeu.,..............................
72.00<)
64.000
48,000
67.000
total stock - Est Imatert ..........j 1,t 111,000 l ,12 1,000j1,146,000 1,157,OO0
Of willch American—Estlnu’d 071.000 911,000 U7«,000j 981,000
total Import o f the week........
91.000
68,000
78,000
86,000
Of wtiloh Amerloan _____
86.000
114,000
61,000
72,000 r i
Amount afloat.........................
135.000 164,0 0 156,000 119.000
Of whieb A m erica n ............ 116,000; 14 5,000 110,000
99,000
Antna! e x p o r t________________

THE CHRONICLE.

748

The tone of the Liverpool market for spots and futures each
day of the week ending April 17 and the daily dosing prices
o f spot cotton, have been as follows.
Saturday Monday. Tuesday. Wed' day. Thursd’ y. Friday

Spot.

Market, ( Moderate Moderate
demand. demand.
1:45 p .

Firmer.

Moderate
demano

Mid.Upl’ ds

438

41%!

43s

430

B ales.. ...
Bpeo. A exp

6,000
500

8,000
500

8,000
500

8,000
rOO

Futures.
Quiet at
Market, \ partially
1:45 p . M. $ l-«4 dec.
Market, {
4 P. M. J

Quiet.

Stead .

Sat u r.

43s

4%

10,000
500

10,000
1,1)00

at S .88 1* »
oartially
1-01 ad
1-84 ad .
*aaoe.

Qalet.

Steady

Steady.

and
Steady. Quiet
steady.

Steady.

Steady.

T u es.

W ed.

F r i.

T liu r s .

1 1:451 4 1:451 4 1:45 4 11:45 4 1:45
|P. M. P. M. P. M. P. M P. M. P. M. P. M. P. M. P. M. P.M. P. M. P. M.

d.
d.
A p ril.......... 4 IS 4 17
A p ril-M ay. 4 16 4 16
May-Juue.. 4 15 4 15
June-.Iuly. 4 13 4 13
Ju ly-A u? •• 4 1*2 4 11
Aug.-Sept.. 4 00 4 08
Sept. O c t.. 4 00 4 00
Oot.-Nov .. 3*o 9 3 59
N ov.-D ec.. 3 57 3 57
D eo.-Jan.. 3 57 3 57
Jan-. Feb ..
Feb-March. I " "

d.
4 16
4 15
4 14
4 11
4 10
4 07
3 63
3 53
3 56
3 56
3 56

d.
4 16
4 15
4 14
4 12
4 11
4 08
4 00
3 59
3 57
3 57
3 58
1

4
4
4
4
4
4
4
3
3
3
3

d.
19
1*
17
14
13
10
02
61
59
59
60

d.
4 19
4 18
4 17
4 14
4 13
4 10
4 02
3 61
3 59
3 59
3 59

d. : d.
4 18 4 18
4 17 4 17
4 16 4 17
4 14.4 14
4 13 4 13
4 10 4 10
4 02 4 02
3 60 3 60
3 59 3 58
3 59 3 53
3 59 3 59

4
4
4
4
4
4
4
3
3
3
3

d.
18
18
16
14
13
10
02
61
59
59
59

d.
4 19
4 19
4 17
4 15
4 14
4 11
4 02
3 61
3 59
3 59
3 60

d.
4 19
4 13
4 17
4 15
4 14
4 11
4 02
3 61
3 59
3 59
3 59

4
4
4
4
4
4
4
3
3
3
3

D AtLT OLOSING PRIORS OP NO. 2 MIXED OATS.

May d elivery.............. ..o .

Qplet.

M on.

white at 26X<s. in elevator and wnite clipped, part for early
May delivery, at about 28}-£c. f. o. b. afloat. To-day the mar­
ket was steadier. The spot market was fairly active and
firmer. The’sales included No. 2 mixed at 2o%c. in et vstor,
No. 2 white at 27c. in elevator and white ciippe 1 a t2 8 ^ c.
f. o. b. afloat.
2

Fair
demand

T h e p r ic e s o f fu tu r e s a t L iv e r p o o l fo r e a c h d a y a r e g iv e n
b e lo w . P r ic e s a r e o n th e ba sis o f U p la n d s , L o w M id d lin g
c la u s e , u n le ss O 'h e r w is e sca le d .
Eqp* Che ori'.e« ire ylosn in p v ie e and 6 I'd.
T h a t: 3 63 m eans
3 63-6 id., and 1 01 means 4 1 6 Id.

A p ril 11 to
A pril 17.

d.
19
19
18
15
14
11
03
61
59
59
59

Friday , April 17, 18H6.
During the first few days of the week buyers showed a
limited amount of interest in the market for wheat fl >ur and
a moderate amount of business was transacted at steady
prices. Subsequently, however, the market became quiet as
buyers were disposed to hold back for concessions, owing to a
decline in wheat values, but ho'ders remained steady in toeir
views. City mills have been in limited request at unchanged
prices. Rye flour has been quiet and unchanged. Corn meai
has received a moderate attention at steady values. To day
the market for wheat flour was firm but quiet.
There has been considerably less spirit to the speculative
dealings in the market for wheat futures, and prices have
gradually declined under liquidating sales by “ loogs,”
prompted by quiet and easier European advices. Yesteriay.
however, there was a rally on fairly brisk demand from “ shorts”
to cover contracts, stimulated by decidedly unfavorable
prospects for the coming crop at the West.
In the
spot market the small supplies and the high views
of holders have checked business. The sales reported yrsterday were all for forward loading and the term< were not
made public. No. 1 hard was quoted at 6 c. over May f. o. b
afloat and No 1 Northern at S^o. over May f. o. b. afl >at.
To-day the market was fairly active and higher on contiau *d
buying by “ shorts” to cover contracts, stimulated by furta-w
reports of crop damage from the West. The spot market was
fairly active and firm. The sales included No. 1 hard at oc.
over May f. o. b. from store and No 1 Northern at 2J^c. over
May f. o, b. from store.
Tues.
74%
72%
71%
7L%

xved.
75
72%
72%
72

rues.
24%

Wed.
24%

Chart
21%

S r i.
25 j

FLOOR.
_____ . ..# bbl. $1 7 5 # 2 1 5 Patent, w inter........ 83 7 5® *4 10
Super tine ................... l 8 0 # 2 4 ) City mills e x t r a s ....
4 20
Extra. Nn. 2 ....... ...... 2 30 # 2 65 Rve flour, superflne . 2 4 5 # 2 90
Extra. So. 1 .............. 2 50® 3 09 Buckwheat flour ...
J le a r s ......................... 2 6 5 # 3 40 ' Corn m eal—
Western, <feo.......... l 1 0 # 2 15
Straights .............. ... i 3 0 # 3 75
Brandywine............
Patent, spring.......... 3 5 9 # 3 95
2 20
[ Wheat Hoar in 8ack8 sella at prices below those for narreU. ]
GRAIN.
0.
|O irn, per bash—
•Yheat—
0.
0.
0
Wesc’ a m ixed _____ 33 # 41
spring, per bu ea.. 72 9 80
Red wlQter No. 2 .. » L \ 9 8414 ' No. 2 m ixed.......... 39 # 40 %
3 ) # 41
Red w inter............ 76 ® 8 j < Western y ello w ..
White ................. .
Western W hite___ 39 # 41
0 its -M ix e d , per bn. 22 © 2 8 ^ R ye—
Western, per bind.
#
W h ite ..................... 25 # 29
State and Jersey ..
#
No. 2 m ixed .......... 2 S \ # •26 \
B ariev—W estern... . 39 # 45
No. 2 w h it e ........... 27 t* 26
Feeding..........
35 n 3714
Ex p o r t s o p
B r e a d s t u f f s , P r m s i i n s . C o t t o n AND

PETROLEUM.—The ex p ort of chesi articles during the month
of -Vlarcb, and the nine months, for the past three years, have
been as follows :
Exports
from 0. S.
Quantities.
Wheat.busb.
Flour...bbls.

1894-95.

1895 P0.
9 Month*.

March.

3,490,918 47,027,4‘28
1, L17.078 11,409,147

March.

1S93-94.

9 Months

0,235.8(8 59,173,353
1,100,810 11,255,195

March.

9 Months.

6,413,931 73,538,271
1,302,913 12.530,232

8,520,455 98,638,589 11,239,52 109,821,730 12,277.04" 130,149,315
7,930,165 70,773,917 2.839,3 5 14,407,199 0,580,434 4'.',952,287
Tot. bush . 16,450,620 109,412,506 14,178,835 124,228,929 18,857,524 ISO. 101,012

Values.
Wh’t& flour.
Oorn&i meal.
Rye ............
Oats & meal.
Barley.........

JA.ILY )L>8tMG eitt !RH
4►
. i M(X«) > tj >*N.
Hon.
Saf.
Tue.fi.
Wed. TVlur,
37
April d e liv e r y ....... __0.
3738
37
37%
37ig
May d eliv e ry ..........
36
3339
July delivery. ... ,
:in%
3 :^
37hi
37 *8
37^2
August d e liv e ry __ ...o . 37 ^
370*
September delivery. . . . . 0
38
36%
38*4
38%
38%

*
1
7,037,985 70,857,895
1,497,1,78 7,959,957
7
5,079
107,880
514.530
43,455
059,2)3

$
$
9,314,139 103,245,422
3,020,937 23.768,459
21
126.391
25,987 2,121,000
141,876 2,021,208
12,503,010 131,282,540
15,945,06. 120,507,716
13,812,001 185,289,562
3,270,9.-4 31,011,572-

Tot., value. 46.286,120 430,824,4 U 40,283.883 408,618,725 45,531,064 474.151,390
taomdliitf cattle and aoirsinaii moulds and years.
Note .—A ll the above figure* are based on the monthly preliminary
returns issued by the Bureau of Studstios. and cover about 9S per c e n t
of the total exports of breadstuffs and oil, 99 par cent of provisions
and nearly 103 percent of cotton.

The movement of bread3 tu£fs to market as indicate i in the
statements below is furnished to us by the Statistician of the
Sew V >rs c*- duce Exchange. We first give the reo * pi3 at
Wes-*-- 'ske and river ports, arranged so as to prann the
cun srative movement for the week ending April 11, 1396,
an i since August 1. for each of the last three years:
Receipts at—
Chicago.......
Milwaukee..
Duluth.......
Minneapolis.

Thu*-*
75%
73
72%
72%

movement of the crop. In the spot mirket b isiness has been
guiet and prices have been about steady. The sales yesterday
included steamer mixed at 38^@10c. in elevator and No. 2
white a 1 41c. delivered. To-day fne market was fractionally
higher i> sympathy with the improvement in wheat. The
spot market was steady. The sates included N >. 2 mixed to
arrive at 38l^a39c f. o. b. ail >at. delivery this mon h ;
steamer mixed at 39c. in el vutur and 3 teamer yellow at 39c
in elevator.

t
»
0,525, L07 71,210,685
2,812,471 27.013,721
157.801
133,722
321,558 1,730,704
273,69'» 1.939,698

Br’dstuffs.. 10,096.557 102,688,649 8,716,4 11 79,993,694
Provisions *. 12,823,749 120,034,833 13.2 >8,78j 123,827,8:9
Ootton......... 19,000.570 162,537,132 15,271.926 173,240,894
Fetrol’m.&c. 4.3>9,244 45,563,750 3,030,706 31,554.303

Detroit------evt. Cleveland...
76% St. bouis......
731% Peoria.......
7 i%
Kansas City.
73%
R«nti»inhAr dfiliuArv
71 v
71 .V.
n r
' tou .
rroi _
Tot.wk.’90.
Deoemher delivery......c............
73%
73%
73%
7413
75% Same wk,’95.
There has been verv little activity to the speculative deal Same wk/Ql.
ings in the market for Indian corn futures, but prices have Since Auq. 1.
1895-96 ....
made fractional improvements, pri. cipally on a demand from
1894-95 ....
a few “ shorts” to cover contracts, stimulated by a decreased
1393-94 ....
Hon.
75%
72%
72
71%

ifon.
24%

The demand for the fesdin? gridesof barley h n bien fairly
active at full values.

OAILV 0LO8ING PRICES HP < >. 2 «Bt> W r < R v a u r

Sat.
75*2
7351
72%
72%

Sal.
24%

Wheat.... bu.
Oorn...bush.

B R E A D S T U F F S .

April delivery................. o.
May d elivery....................o.
June delivery............... . . 0.
July delivery....................o.

f V ol. LXII

Flour.
Wheat.
Corn.
Oat1.
Barley.
Ryt.
*>w.l«0lhs Bah.QO lbs Buth.SMOs B ath.ii1 fluih.4)
Bu.66 Ibt_
39.010
41.384
707.67) 1,097,092
200,230
28,800
53.800
140.400
5 »,700
93,000
70,400
12,600
25,300
637,856
51,527
472
113,29.1
10,44 fl
3,202
942,270
2 \340
61,070
1,586
21,9 0
47,000
1,700’
1,682
23.301
19,116
24.999
12.475
805
24.062
15,813
26,700
15,750
81,183
241,289
164 40)
34,500
27
5,830
22,300
2)3,300
177,700
29.4)0
600
5,667
147,565
153.4s?
280,733

1,941,136
1.125.083
2,202.880

1,385.714
745 -*Q7
1,985.4)7

1,70.3,288
M31,134
1,539,015

460,325
215,702
279,572

52,17a
26,797.
51,500

8,19t,86i 169.010.570 90,390,328 107.38L.614 34,132.102 3,152,803
8,701,782 124.530,872 53,619.448 60,012 457 29,533,544 2,103,558
9,338.28 7 130.150,853 121.301.304 89,296.777 27,108,107 2,930,170

I’ba receipts of flour ami grain at the seaboard ports tor the
weekends! April 11, 1893, follow:
Receipts at New Y ork.......... .
Montreal. -------- . .
Philadelphia......
Baltimore......... ..
Richmond. . .... ..
New Orleans ....

Flour,
bbls.

73,997

Wheat,
bush.

Oats,
hush.
694.8 j0

3.0 10
2L.260
349,7 72
0,101
622,070

:«9.3S2
129 3:39
107,292
14,5 )0
51,270

3,299
4 4,300

170,540 1,092,990 1,236.35)
325,239
304.138
92J.455
v

256.140
29,400

15.70 >
37.310
02,083
2,408

.. 217,394
Total week
Week
. ... .. 287,585
.................
...."
' - — 1895

Corn,
bush.

57,525

30,175
90 bH
0,4:10
4,4 1L
12.793
i L. J4 I
2,85)

Barley
hush.

200,700

Rue,
biifn .

16,575

“ *10fl
17,410
o,*/o
8,470

37 34
^<>:k
378»

The total receipts at ports named in last table from Jaa. 1
to April ll : >noire as (» 11 vi f.i- four years:

38%

Receipts o f—
F’ our..............

Oats for future d^liv^ry hive been quiet and prices have
improved slightly in sympathy with the improvement in
corn. Badness 0 1 the sp it h is oeen fairly active, as shippers
have continued buyers and prices have been steady. Yester­
day the sales included N 1. 2 mixed a 2 o'<o i 1 nbritor, No.

1890.

1895.

3,104,653

4, 4 1 >. LL9

5,431 i 70

1894.

1893.
4.986,278

W heat. . . . . . . . 1 0 •*", 3,s<9 *8S
C orn..........
. ** 31. 2 4,271
12.00 L.o/9
O a ts ................... , “
Birkey................ . •• . 2.371.94)
“
370,715

5, l -10.0 4)
7. *10 .’ 34
8.731.5)2
1,25 9.234
117 132

3,345,7$ i
2t.tLi.943
9.421,760
1,599,'»8)
79,173

9.311,875
12.174,019
10,271,013
2.228,529

Total grain . . . . . . . 33.897*095

21.4,5,472

36 335.214

34.187,404

.' id is.

A pr l 18, 189*.]

THE CHRONICLE.

The exports from cue sa/eral saaooard ports for the week

Hastoo .. ... ...
PortUadL ... ...

....

57,617
‘ 18,7&ft
42,857
132357
404,166

Philadelphia . . .
Baltimore.. . . . .
Hew Orleans . . .
Norfolk . ------Newport News .

Qalpesfcoa

Flour.
hhls
81,8*4
3*325
6,000
IS.2JI
W
;
m2

C om .
push.
% l,U i

W heat.
bath.

E xp ort* f r o m —

Ifaw York.........

27»*.70l
77*400

...

Total weet . .. ... 557.7Si
Same time 1895, ...I A 3 j.3 ia

oat*
bush.
207,613
1,160
10 057
20,000

Ry*%
butA

Pea*
b U i\ .

11,527

3,73>
‘ 8,387

’ "*375

9,622

...

221,175

219.255
3,430

12.4 49
40,8-'9

The destination of these exports for the week and since
Sept, 1,1895, is as b lo w . W e add the totals for the corres­
ponding periods of last year for comparison;
Wheat.--— -* •——— -Com
- Flour.W eek
Since Sept.
W u k Since Sent.
Since Sept.
E xp ort* t e r
W eek
-1 . 1895.
A p r. 11.
1.1896.
A p r. 11
i. mb.
week and tin e* A p r. 11,
bush.
butih.
t*mh.
bu*A
bbia.
Sept. 1 to—
obis.
243,523 31,380.407
Halt#*! Kingdom 147,243 5,327,210 330.750 19,121,849
705,1*34 ISS&il 7/204, *93 088.536 28,397.493
C on tin en t...........
13,3 \
13^03
5:1.729
•J43.783
88 i; 1&
4
8 . it c . Ammie-%
19.97 1
I8.5d8
199.603
7>2.724
West Indies . .. 2Aum
P «
8.590
3.800
327,386
■
Brit. N. A. Co s.
4.378
712,295
48.81 S 529,796
28,101
77,203
Other eonatries. 13,241
557,732 87.6NS.85-1 i.055.584 « i m - i m
Total.,.,,.... 221.175 8,037.435
Toud 1S91-95. ... ms.bm 8»|8&#JL7 U ^ W

3O.731.0dl

3,3,059 13,868,530

The visible supply o f grain, com prising the stocks in grana ry
at the principal points o f accum ulation at lake and eeaOoard
ports, April 11, 1896, was as follow s:
Baruy
Oats
Com,
Rye.
h>i*h
huts.
bush,
imsh.
frttfA
In store a t ~
u,<m
1.131.000
1 U1,0 0 0
6,000
783,000
New tork..... ..
18.0*70
Do
Afloat.,
Albany..........
......
Buffalo ....... .............
MU<m
Do
afloat......
........
Chicago............... ...17,063,000
Oo
afloat... . . . 1411,80©
miwrnkrn............ 107.000
Do
afloa t...... 17S.000
Dnlath...... . ..... ... 14/353,000
0©
a flo a t...... 6 X2.0C*)
Tolaao.... . . . . . . . . 591,000
Do afloa t....... .... ...
Detroit...................... 247,000
Do
afloat,.....,
O iw « « o ................ . . .

• ...

84, LoaS*........... ... Ufll.OOO
Do afloat....... .......
Cloainaati...------ ...
it.,000
Boston . . . . . ........ ... 114.000
Toronto.*. . . . . . . , , .
$4-000
Montreal................... 907.000
Phiiadalphia...... ... XH.000
Perrta. ....................
11.000
IndUkoaeolU.......... 100,000
Kwmw City -..... ..... t*M.006
Baltimore. ....... ... i,'5,*i00
Mlnneapoilr, ..... ...19,068,*500
On Miatlaaippl Rlrer.
On hmkm~ . . .... ... ..... ...
On &mai and riwar*..
Total Apr It, i m .f l W W O
Total Aar. 4.
Total Apr, .13, m 7*9.IS8 000
Total Apr. t«. Pat w* 2W.0OO
Total Apr. 13.UMB 76ft-**.OO0

10 ,0 0 0

"

*4*0.000

10,000
17,000

6.414,000
ft.73l.0J4i
114,00©

S40.O00
TiM&o

.

1,5 23,000

17.8*50
280.000
ltU» ,0 0 0
"mom
‘ ¥ ,0 0 0

36.000

21.000
75.000

57.000

**8,0 0 0
i6.8|7.«0@
18^49.000
Sfl.fltMM©
moji.noo
w jm jm

466.60J

*17,005
21.00*3
•8 ,6 ***
62,090

*17,000

l^OOO

55,002
WOO©
614.000

17.00O

35,00]

**3.003
*’ *1,0 0 0

670.000
451.000
3.OO0

17.000
31 ..000

250.000

187.000
457.000
Z7\<m
2 *0,0 0 0
115.000
Ti'ooo

3&OO0

2ftM,O0»J

*‘ ¥*000

' mjm
' 2 A0 0 O
73„y<M>
330,000
113.000
73>
19.090
' l 2 ,O0 Q
9,t3*>,00»5 ! > 10 .0 0 0
5,7*7.000
213,0**3
1 *#AOO
29551*003
637.000
4,ayjofl©

11* * 0 0 0

0

1,140,001)
|0 >,*>00

749

Sales o f brown sheetings and drills have gained som ew hat
on the previous week through an increase in the number o f
small orders. A considerable business could be done if sellers
were willing to accept even a fair proportion of the bids for
quantities made from day to day, but buyers’ ideas are gen­
erally too low . In the coarse colored goods market a quiet
business is recorded. Denims are steady, but sellers o f .ticks,
checks and stripes, cheviots, plaids, etc , are easy to deal
with. Business in bleached cottons is mostly confined to
small purchases in any grade, with an occasional m anufac­
turer of underwear, etc., placing a fair order in medium
qualities. Prices are unaltered. Kid-finished cambrics in ac­
tive and weak. Sales o f wide sheetings are o f limited extent
only but prices are generally steady. A moderate business
reported in cotton flaunels and blankets. Fancy prints are
quiet and irregular, end oth -r regular calico s dull and fr e ­
quently iu buyers' favor. Fine printed wash fabrics in fair
re-order demand. Dress ginghams in light request at first
bands, the chief feature being another “ d riv e” iu the job bin g
trade. Staples dull and easy to buy. Print cloths unchanged
at 2 }»jC. for extras, with a lim ited business doing.
1896.
S to ck o f P r i n t O lo t k t —

At Providence, 61 squares.
At Fall River, 61 Squares..
At Fall River, odd sizes . . .

A p r . 11

231,000
761.000
S56.000

Total stock tpleoeai.__1.554.000

1895.

18-1.

A p r. IS

A p r , 1-1. A p r . 1 5 .

112,000
33.000
117,000
262,000

1893.

214,000 56,i,000
327.000 ,
83,000 i 44,000
624.000

100,000

W oolen G o o d s —T he curtailment o f production o f men’s
wear woolen and worsted fabrics by the stoppage o f mills
and diversion of looms to other goods is so great as to suggest
some scarcity of supplies before the heavy-weight season is
over. This hat a tendency to keep prices o f rega lir goods
fairly steady in face o f a continued poor demand, but does
not prevent new lines o f cheviots and fancy worsteds in
midiutn grades being offered at relatively low prices. Tne
demand for light-weights has been helped slightly by
the warm tr weather, satinets are inactive and irregu­
lar, and only an indifferent business is reported in
cotton-warp, eassim-res, &c. Overcoatings are slow and
irregular in medium grade goods. Cloakings in fair demand.
The dem ind for dress goods has been mostly confined to
fancy lines for fall, in which good orders have been taken.
Staple varieties are quiet. The business in blankets is moder­
ate only, but prices are steady. F lionels slow pending the
opening o f the new season.
Foreign* D ry G oods .— There has been a fair amount o f
business recorded in fall lines o f dress goods and silks, but
orders arc still backward when com pared with last season.
Ribbons, hosiery, underwear, men's-wear fabrics and linens
are quiet throughout
The demand for sea ton ante goods has
improved som ewhat under fine weather influences.

&%%om
SJl.OtO I m p o r t a t i o n * u u d W a r e h o u s e W i t h d r a w a l * o f D r y C o o d a
The importations and warehouse withdrawals o f dry goods
at this port for the week ending April 18, 1896, and since
THE DRY GOODS TRADE.
January l, 1896, and for the corresponding periods o f last
year are as follow s:
N ew Y ork . F r id a y , P. M., April 17, 1890.

The market at the close o f the week shows some im prove­
ment in sentiment, a result m*itUy attributable to the fa v or­
able change in the weather and the repirts o f its excellent in ­
fluence over the retail badness. Distribution by re at! tr.s his
beeu active here and in oth r t irge cities, and retailers' stocks,
which were believed to have bten Isrg-s, must h iv e under­
gone a m iterial reduction. This is business at the right end,
and its effect is already showing with an increased demand
for supplementary supplies in job bin g circles and a greater
interest evinced in som e departments of tie- primary market.
Actual business in the latter, ••vail'* probably larger than
lately precedmg we-tits.is s ill m i l-rate in tbs aggrega e , an I
sellers are still easy to deal with in most instanca* on th*
basis of Turrent prices. Vt ths b it t v u limits, however, th an
is more steadiness in staple 45 >oJ*. Report* o f curtailment of
production are increasing in cotton goals, and in w ojlsn
go Min there has already b*en a h eivy c a t dow n o f output.
Collection* continue to show some improvement.
Domestic Cotton G oods —T oe exports o f cotton goods
from this p>rt for the week ending April 18 were 12,8:7
packages, valued at 1981.783, their destination being to the
paints specified in the tables below:
1896.

N*w T om e TO A r m t, 13

1995.
i

Week

Since Jan. 1.

Orem Britain................. .
Other E uropean............ ......
C h in a ...............................
India.......................................
Arahla.....................................
Africa .....................................
West Indie*...........................
M exico..................................
Centra! A m e r i c a ,..............
Booth A m e r ic a ...,..............
Other C ountries._________

19
3
9.169
3
BIO
581
I/O
63
295
1,388
128

571
1,112
2 1,122
2.450
5.574
4,382
3,799
8i3
2,810
13.742
1,052

T ota l...............................
China, v ia V an cou ver*...

12,327

02.337
11,102

3,335

53.115
8.450

Total....... .......................... U2A27

73,199

1 3,335

59,885

Week
313
,52
838
577

:

,|

5
571
116
328
950
130

Since Jan. 1
1,577
1,001
10,979
2,507
8,421
2.633
5.451
928
3.002
16,604
1,991

* Prom Sew England mill point* direst.
m
The value o f the New Y ork exports for the year bas

been 42,883,981 in 1898 against $2,374,093 in 1893.

THE CHRONICLE.

750

S w £

a t jb

C ity B etabtiyt ^ t .

TERM S OF S U B S C R IP T IO N .

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without extra charge to every annual subscriber of the

Commercial and F in a n c ia l C hronicle .
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T he Street R a ilw a y S upplement will likewise
be furnished without extra charge to every subscriber
of the Chronicle .
T ns Q uotation S upplement, issued monthly, will

also be furnished without extra charge to every sub­
scriber of the Chronicle .
TERMS for the Chronicle with the four Supple­
ments above named are Ten ollars within the United
States and Twelve Dollars i 1 Europe, which in both
cases includes postage.
Terms of Advertising— Per iucii space.)
O n e t im e ............................. $3 50 I T ar
Mouths (13 tim es)..$2 5 00
Oue Month
(4 tim es).. 1 1 0 0 8 ix ouths
(26 tim es).. 43 00
Two Months
(8 tim es).. 18 00 I Twelve Months (52 tim es).. 58 00
(The above terms for one month and upward are for standing oards.

T h e p u rp o se o t this State a n d City D e p a rtm e n t
is to furnish our subscribers with a weekly addition to and
continuation of the S t a t e a n d C i t y S u p p l e m e n t . In other
words, with the new facts we shall give, the amplifications
and corrections we shall publish, and the municipal laws we
shall analyze in the “ State and City Department,” we expect
to bring down weekly the information contained in the
S t a t e a n d C i t y S u p p l e m e n t to as near the current date as
possible. Hence every Subscriber will at all times possess a
complete and fresh cyclopaedia of information respecting
Municipal Debts.
B o n d P ro p o sa ls a n d N e g o tia tio n s.—We have re­
ceived through the week the following notices of bondsrecently negotiated and bonds offered and to be offered for
sale.
Alexandria, Ya.—Bond Election.—A vote will probably be
taken June 2 on the proposition to issue $200,000 of bonds for
paving and sewer purposes.
Ambler, Pa.—Bonds Authorized.—Paving bonds of this
municipality to the amount of $40,000 will be issued.
Atchison, Kans.—Bonds Defeated—At an election held
April 7, 1896, the question of issuing $50,000 of sewer bonds
resulted in the defeat of the proposition.
Baltimore, Mil.—Bonds Authorized.—This city has been
authorized by the Legislature to issue stock to the amount of
$1,600,000 for the purpose of funding the floating indebted­
ness which existed on December 31, 1895. The question will
now be submitted to a vote of the people.
Brooklyn, N. Y.—Bond Offering.—Proposals will be re­
ceived until April 27 by George W . Palmer, Comptroller, for
the purchase of $1,263,000 of 3)^ per cent gold bonds and
stock of the City of Brooklyn as follows.
LOANS—
When Due.
LOANS—
When Due.
Sewer bonds, $100,000.......... 1927
•D o
Do
*45,000.......... 1918
Local imp. bonds, *100,000 .1930
Do
L)o $100,000 .1915
Public mkt. bonds, $90,000.-1924

Scli'l i.ldg. bonds, $100,000. .1936
Station bouse bonds, $39,000.1906
E. It. B. stock, *50 00 0.......... 1936
Sewer A water stk., $593,000.1936
Water bord s, $10,000............1916
Cett. o f ind., $36,000...1900-1901

Bolts Connlf, da.—Bond Election.—A vote will be taken
April 29 on issuing court-house bonds.
Cambridge, Mass'.—Bond Sale.—On April 16, 1896, this
city sold $100,000 of water works bonds to Messrs. Eitabrook
& Co. at 109 057. Sixteen bids in all were received for the
loan. The loan is dated April 1, 1896, bears interest at the
rate of 4 per cent, payable semi-annually, and runs 20 years.
Carroll County, Mo.—No Vote Taken.—A vote was to have
been taken April 14 on i-suing $75,000 of 20-year bonds, but
we are infoimed by Charles L. Rea, County Treasurer, that
the election was declared eff.
Clay County, Iowa,—Bonds Authorized.—Funding bonds
of this county for about $15,000 will be issued this month.
The county has no other debt, and its assessed valuation in
1895 (which is about 25 per cent of actual value) of real estate
was $2,378,544: personal property, $360,525; total, $2,739,069;
total tax rate (per $1,000), $ 8 50. The present population is
estimated at 11,264.
Cleveland, Ohio—Bond Offering.—Proposals will be re­
ceived until 12 o’clock noon May .9, 1896, for the purchase of
$153,000 of coupon sewer bonds of the city of Cleveland. In­

[Vor* LXII.

terest at the rate of 4 per cent will be payable semi annua lly
from April 1, 1896. both principal and interest to he paya ble
at the American Exchange National Bank, New York City,
and 530,000 of the amount will mature April 1, 1901; $25,000'
Apiil 1, 1903; $20,000 April 1, 1904; aud $78,000 April 1,
1906.
The city’s total debt on A p ril], 1896, including the bonds
described above, was $9,774,334: deducting water debt of
$1,796,094, and sicking fund of $2,035,917, net debt. $5,942,323. The assessed valuation in 1895 was $134,562,905; real
valuation, $500,000,000. The population, according to local
figures, is 360,000.
Clinton, M ass—Bonds Authorized.—Water-works bonds
of this town to the amount of $50,000 have been authorized
by the Legislature.
Ceihoctou, N. Y.—Bonds Defeated.—A vote taken on issuing
$6 ,0 0 0 of water-works improvement bonds resulted in the d e­
feat of the proposition. Another election will probably be
held later, when it is thought that the proposition will carry.
Colninbn", Ga.—Bond Election.—It is reported that an elec­
tion will be held August 14 to vote on issuing $100,000 of city
hall and funding bonds.
Columbus, Ohifl—Bonds Authorized. —It is reported that a
vote taken April 6 on issuing $300,000 of electric-light bonds
resulted in favor of the proposition.
It is also reported that $125,000 of bonds have been author­
ized for engine houses, etc.
East Pittsburg, P a —Bond Election.—An election will be
held May 19 on issuing $27,255 of school bonds.
Flushing, N.Y.—Bonds Authorized.—Road bonds to the
amount of $ 1 2 0 ,0 0 0 have been authorized.
Fort Gibson, Miss.—Bond Election.—A vote will be taken
April 21 on issuing electric light bonds.
Gering Irrigation District, Neb.—Bonds Authorized.—
It is reported that bonds of this district to tba amount of
$350,000 have been authorized.
Grand Rapids, Mich.—Bond Election.—A vote will be
taken Apr 1 25 on issuing $75,000 of bonds.
Greensboro, N. C.—Bonds Authorized.—Street improve­
ment bonds of this town to the amount of $15,000 have been
authorized.
Kensington, Md.—Bonds Authorized.—Sewerage bonds o f
this city have recently been authoriz d.
Lancaster, Ohio.—Bonds Authorized.— A vote taken April
6 on issuing $75,000 of City Hall bonds resulted iu favor of the
proposition.
Leominster, Mas?.—Bonds Authorized.— A loan of $200,00Dhas been authorized for water-works purposes.
Lincoln, Cal.—Bond Election.— A vote will be taken shortly
on the question of issuing water-works bonds to the amount,
of $2 0 ,0 0 0 .
Lynn, Mass.—Bonds Proposed.—An ordinance has been
submitted to the Legislature providing for the issuance o f
$115,000 of sewer bonds.
M clntire, Iow a.—Bond Offering.—Proposals will be re­
ceived until April 20 for the purchase of $2,000 of water-works^
bonds.
Madison, N. J .—Bond Election.—A rote will be taken
April 24 on issuing $35,000 of road bonds.
Malvern, Pa.—Bond Offering.—Proposals will be received
until May 14 for the purchase of $3,000 of water bonds of
this borough.
Mankato, Minn.—Bonds Defeated. —An election held April1
7 on issuing $20,000 of water-works extension bonds failed to
carry.
Mansfield, Ohio.—Bonds Defeated.—An election held
April 6 on issuing $75,000 of water and sewer bonds resulted
in tbe defeat of the proposition.
Marine City, M ich.—Bonds Proposed.—Electric-light bonds
to tbe amount of $25,000 have been proposed.
Miami County, Ohio.—Bonds Authorized. — Deficiency
bords to the amount of $35,000 have been authoriz,d.
M iller’s Falls, Mass.—Bonds Authorized.— Water-works
bonds of this village to tne amount of $2 0 ,0 0 0 have been
authorized.
M illville Pa.—Bonds Authorized.—At a meeting of the
City Council it was decided to issue bonis for tbe erection of
an electric-light plant.
MIssoala County, Mont.—Bond Offering.—Proposals will
be received until 10 o’clock a m ., April 30. 1896, by the
County Commissioners for the purchase of $10,000 of goldbearing refundirg bonds. The loan will be dated July 1,
1896, interest at the rate of 6 per cent will be payable semi­
annually on January 1 and July 1 at the office of tbe County
Treasurer, and the principal will mature in 20 years
Monroeville, Ohio.—Bonds Defeated.—An election held re­
cently on issuing bonds for water-werks resulted in the defeat,
of the proposition.
New Bedford, Mass. —Bond Offering—Proposals will be
received until noon, Aptil 22, by Hon. D. L, Parker, Mayor,,
for the purchase of $ 1 0 0 ,0 0 0 of coupon w iter bonds of' the
city of New Bedford. The loan is dated April 1, 1896, bears
interest at the rate of 4 per cent, payable semi-annually om

APRIL 18, 1896,1

THE OHRONLCLE.

A pril l and October 1, and matures A oril 1, 1928, The bonds
a re secured by sicking funds ami both principal and interest
■will be payable ia gold if demanded. They are p irt o f an
au th oriz’ d issue o f §1,300,000.
.Vewbaryport. Mass.—B onds A u th orized —Sewer bonds to
the am ount o f §110,000 have been authorized.
New York C ity .—Bonds A u th orized .—A bill providing for
the issuance o f * ‘>,000,000 of additional scho >1 bonds has been
passed by the Senate, and a bill authorizing 50,000,000 of ad­
ditional dock bonds, not more than §2,000,000 to be issued in
any one year, has been signed by the Governor.
North Ad in!*. Mass.— Bonds Authorized.— Bonds to the

amount of *0 0 , 0 0 0 have been authoriz-d for a new reservoir.
N orth T arrrtow n . N. Y.—Bonds A uthorized.— This m unici­
pality w ill issue bonds lo the am ount o f §20,000 for water­
works.
N orw ood. O hio.— Bonds A u th oriz’d. —Bonds o f this villige
to the amount o f §40,000 have been authorized.
P eterb oro, N, 11— Bond Offering.—L. P Wilson. Town
Treasurer, repons to the CHROSlebE regarding 180,010 of
water-works bonds o f Peterboro which are being o ffe n d to
local purchasers that hut few have been disposed o f uo to the
prtscnf time. The citizens w il! have until May 1 to subscribe
ior the loan, after which date they may he sold to any one.
The s*curities ate to be dated July 1, lfcOO. w ill bear interest
at the rate o f 3 per cent and will mature at the rate o f #8,000
yearly in from one to twenty years. They are exempt from
taxation bv the town.
P ittsfield , Hass.— Bonds P ro p o m l.— This city has peti
lionet! the Legislature for autrtoruy to issue additional water
bonds to the amount of 5100,000.
Pontcharlraln L e w D istrict, New Orleans, L i . —Bond
Offering-—Proposals « iil be rtc -iv <1 until 11 a . u~ April
2 f, 1896, by M R. Spelman, President of the B >ard o '
Commissi mere, for tin purchase o f $27,000 o f district bonds,
the l >an to include not le s th in $5,000 o f 50 ye tr bonds.
Ractae, W G.—Bonds A uthorized —Pu ttie Library bonds
of Rtcine to the amount of $80,000 have been voted.

N E W LOANS.

NEW

751

Randolph, M m %.— B mds Proposed — A.-i ordinance will be
submitted to the Legislature providing for the iiaatnce of
§10,000 of water-works extension bonds.
Ransom Conaty, N. D.—Bond Offering.—Proposals w ill be
received until noon May 6. 1896, b y Thos. J. Harris, Auditor,
for the purchase o f 540,000 o f 5 per cent Ransom C.m aty
funding bonds. Interest w ill be payable semi-annually and
the principal w ill mature in 20 years. The official adve.rtwem m t o f this loan will be fo u n d elsewhere in this Department,
R ock v ille. Md.—Bonds A uth orize1.—W ater-works bonds
o f this ciry to rhe amount of 820,000 have recently b;ea au­
thorized by the Legislature.
R utland, Yt.—Bond Sale.—O t April 13. 1898, this city sold
§75,000 of gold sewer bonds to E. G. S auw ood & Co., of Bos­
ton at 108 90. Sixteen bids in all w -re received for the loan
as follow s:
Bid.

X. IT. Harris * Co., o f B oston ...............
Kfttabtook a Co., o f Boston ..................
[•'arson. I,*?aoti A Co ................. ..............

.. lt.If.-3

..tocos

-.105 60

.. loo-oo

S. A. Kean, of C hicvffo..........................

..105-25
..106-517
.. 105-78
-.105-617
. 101-86
..105-4 80
..104-317
..104-53
..106-17
..105*62

F rol A. F ie ld ,o f R u tla n d .,...................
D l«»z,D enison A Prior, o f Boston ...
Bind ret, Merritt & Co., o f Boston .......
K. h. Day dr Co., o f B oston....................
James W. Loogstrent A- Co., oi Boston.

rhlril Na'innal Bank, of B >»ton ------

fieorge A . tVroatd A Co., o f B o sto n ,..
Blake Bros A Co,, o f Boston
............

Ouslimsn. Fisher A Phelps, o f Boston
15 £1. RoUUss A Hons, of Boston ...........
E. C. Stanw .o VA C o .,o f Boston .......
VT. J. Hayes Arsons .................................

..105-077

The arcurities are dated May 1, 1808, and will mature May
l, 1930. Interest at the rate of i p?r cent w ill be piyab le
sotni-anoually in gold on May 1 and November 1. Th > bonds
are secured by a special sinking fund.
St. Bernard, O h io.— Bond Offering.— Proposals will be re­
ceived until May 7, 1896. by Job i G. Overman, Village Clerk,
for the purchase of $1,000 o f 5 p -r cent 5 to 14-year bond*.

N E W LOANS.

LOANS.

$ 4 0 ,0 0 0

i nv es t me nt

Bonds.

RANSOM

COUNTY

M UNICIPAL

BONDS

Funding Eonds.
C ity Of B utton R e g is te r e d ................ .. 4 s
toy the w it-of P-rtr ThoowBUl
City o f L ou isville, Kjr............................ 7§ D u lU r, illo .o o u ) n r * P e r Cent £i*j Scm l Anim al
I n l „ r . .i . T m n l f - T u i h8#> l t » n « i o Ocmntr t-'nnJln*
State o f Co orad o ------------. . . . . . . .
4* ttutut*. «* ppiy.-Sfrrt for Ft Section nombensi toss,
C ity o f H olyoke, M a n , G old, . . . ___ 4s K c T t o o l a t i l u n „ f t h e jtm r M M , w ill b e r o r r l r e d
M ldd esex County. M ass...................... 4s by Uw B (n tM .ftiir l at hi# oflloe SB tbeOuyol U atr-n, P * K T I O t 'I .A K * UPON A P P I .I O A T I O B .
«ol«» c.nrntf. e n tti b -k -b o f th * fltto <S*y o f M ay. !-*M.
City o f L t f An.-eies. C a l. G o ld ........ 4s T o * B om -0 nm rrr* ibe rtetot to reject any »»ii ait
Ronton k Albany R R .................
4s
Dane by order o f lb* B o e r t o f Orniitj tVmuai*-Old Colony R R ........... ............................. 4s
y t o iw r ta l KawoMo ( t a a i - . NVrtSl Dakota, Ihi* M b . AM BEH a O f T I U N E W TO
AND BOSTON
New York A P enn. T el. k T el. Cofl.r o f April. mm.
THOS. J. U A It BIS,
STOCK K XCKANO R 8.

FOR INVESTMENT.

County AnSItor.
natux-oi County, S. M.

E. H. R O L L IN S & S O N S ,

USA t.BBS IN COMMBBCIAJ, P A P S B .

3 3 H T A T K * T „ B O S r o w . MiMSBw

$150,000

St. Louis County, Mi nn. Blake Brothers & Co*,
4

$ 5 0 0 , COO

CITY

OF

BOSTON

Road Bonds.

PKOPOSVI.M FOR

BUNDS.

Rapid T r a n s i t R eg iste re d Bonds

SKAtiSD BIHS will be received al ike County Aw
dtteafa Office* in IB® CHf of DtllBtlL* up to % i f M
**, » , of ThiirsKtay, 1une lih . 2&MI for f tSO.edO Aper
cent ;3a-y««ar Coon If Road bond* of the Comity of
SC J,<»nN. Stale o f Minnesota.

P r lf * » m l P n r llc n U r * <ii>nn A r b itr a tio n .

For parUenUra write O. H A L D S N , County A u ­
ditor, rm luth. Minn.

® * PKIt CENT 40-TEAit

tE B I

N. V .

New York Savings Banks
and Trustees.
I D T

M A T

FPON

BONDS.

E. C. Stanwood 8c Co.,

Kummnu S f r e e l * S e w

Y ork ,

GOVERNMENT

and

N. W . H A R R I S & CO.,
CHICAGO.

"BOSTON.

13 \ V » M , H T K E K T ,

PHILADELPHIA.
-

NEW Y O R K .

SAFE INVESTMENTS.
121 Devonshire S tre e t,

MEND F O R

U S T

City and County Bonds.
(B O S T O N .

4# Vfmtrr S tffft,
7

YORK

BAN KERS,

STOCK EXCHANGES.

R. L. D A Y & CO.,

BOMTON.

NEW

BANKERS,

A P P L IC A T IO N .

Mmummm or m wm - a m> s iw yohk

N T ..

NAMBAD

B o u g h t and Sold .

MUNICIPAL

I nvestment Bonds

ron

KTHEET,

i

M U N IC IPA L BONDS

D U N S C O M B & J E N N IS O N ,
'

•AM S T A T E

I .I B T s * S E N T U P O N A P I ’ l .I O A T I O M

D IE T Z , D E N IS O N & P R IO R ,
:i5 CON<;R E S * S T R E E T , - B O STO N .
10® S u p e r io r S treet, C lev ela n d . O.

THE CHRONICLE.

752

St. Louis County, Minn.—Bond Offering.—Proposals will
be received until 2 o’clock P. m ,, June 4, 1898, by O. Halden,
Auditor, for the purchase of $150,000 of 4 per cent 20-year
county road bonds. These securities will be found adver­
tised elsewhere in this Department.
Salem, Ohio—Bonds Defeated.—It is reported that the
proposition to issue $60,000 of school bonds of Salem, recently
voted on, was probably defeated.
Stoneham, Mass.—Bonds Authorized.—F. E. Nickerson,
Town Treasurer, reports to the C h r o n i c l e that sewerage
bonds of Stonebam to the amount of $130,000 have been
authorized by the Legislature. The securities will bear in­
terest at the rate of 4 per cent, and will mature in amounts
of from $3,000 to $5,000 yearly in from one to thirty years.
A town meeting will be held this month to authorize the float­
ing of $50,000 of the amount to pay for construction this
summer.
Urbana, Ohio.—Bond Election.—A. vote will be taken April
26 on iseuing $20,000 of school bonds.
W ellsyille, Ohio.—Bonds Defeated.—A vote taken Apiil 6
on issuing $35,000 of bonds for water-works refulted in the
defeat of the proposition. The votes cast were 400 for ard
600 against the issue.
Westport, Mo.—Bond Election —The people of Westport
will vote April 30 on issuing water-works bor dstothe amount
of $50,000.

S T A T E AND C IT Y D E B T CHANGES.
We subjoin reports as to municipal debts received since
the last publication of our S tate and City Supplement
Some of these reports are wholly new and others cover items
of information additional to those given in the S upplement
and of interest to investors.
Boston, Mass.—The following figures have been revised
for us a second time by City Treasurer Alfred T. Turner.

C h ic a g o , III., W e s t P o r k ...............................5s
B u r lin g to n , W i s „ S c h o o l...............................5s
S h e r «’ an, T e x a s , R e fu n d in g — ..................(is
S o. O m aha, N e b ., R e fu n d in g ....................... 7s
M u sca tin e , I o w a , Im p r o v e m e n t................ Os
A u r o r a , I lls ., Im p ro v e m e n t......................... Os
G ib son C ity, I lls ., W a t e r W o r k s ................ Os
H u b b a rd , O h io, E le c tr ic L ig h t ................... 5s
H a r v a r d , N eb., W a t e r W o r k s .....................Os

BAN KERS,
171 L a S a lle S t..
C H IC A G O .

B lanchard,

;B A N K E R S.

S tate

S treet,

N o td e b t.......................... $41,341,207

$37,733,811

$33,936,238

The follow ing table shows the am ount o f the gross funded debt,
sinking funds and the net debt, for the last sixteen y e a rs:
Gross Debt.
Sinking Funds.
Tears.
$24,324,566 93
1896........................$65,665,774 64
1895...................... 59,337,964 93
21,604,153 72
20,482,297 00
1894...................... 54,418,535 00
25,477,682 00
1893...................... 56,908,148 00
1 8 9 2 ............................ 56,003,997 00 25,483,737 00
1 8 9 1 ............................ 55,861,980 00 24,139,995 00
1890............................ 53,930,095 22 22,505,598 72
21,820,646 70
1889............................ 49,920,475 25
1888............................ 48,993,803 45 21,287,254 76
1887............................ 46,799,962 72 19,946,810 94
1886............................ 43,628,322 04 18,409,433 51
1885............................ 42,962,180 02 18,022,484 25
1884............................ 43,185,669 07 16,476,871 22
1883............................ 41,184,358 12 16,156,795 43
1882............................ 40,079,312 04 15,633,229 37
14,511,849 19
1881............................ 40,949,332 18

Territory o f Arizona,
D ated J n n . 15, 1 S 9 0 . Due J a n . 1 5 , 1 9 4 0 .
(Option of payment after 20 years.)

DENOMINATION

B u ild in g ,

G ra n d R a p id s , M ich ., E le c tr ic -L ig h t......... 4 s
K a la m a z o o , M icli., E le c t r ic - L ig h t ............ 4 s
C h a r le v o ix ,M ic k » R e fu n d in g ..................... 5s
R ich m on d , In d ., F u n d in g ............................... 5s
D ea rb orn C ou n ty, In d ., F u n d in g ............... 5s
T e r r e H a u te, In«*., F u n d in g ......................... 4 s
R ichm ond, In d ., S tr e e t I m p r o v e m e n t......Os
M itch ell, Ind ., E le c t r ic -L ig h t ...................... Os
T o le d o , O h io, S tr e e t I m p r o v e m e n t......... 4Ms
B lu ffton , O h io, W a t e r ......................................5s
B ond H ill, O h io, W a t e r ..................................5s
X e n ia , O h io, F un din g..................................
P iqu a , O h io, W a t e r ....................................... 4&»
M id d le to w n , O hto, W a t e r ............................. 5s
C o r sica n a , T e x a s , S e w e r ............................... 5s
A s to ria , O reg on , (G o ld ),W a t e r ....................5s
L a u r e l, M d „ S tr e e t Im p r o v e m e n t.......
5s
FOR SALE AY

$1,000. Rudolph Kleyboite & Co.,

-

BAN K ERS,

In te r e s t p a y a b le J a n . an d J u ly 1 5 .

C IN C IN N A T I, O.

Principal and Coupons payable at the

For prices and particulars address

I OS

B o sto n , Mass.

New Loan.

C I T Y OF BROOKLYN

LA

SALLE

STREET,

31 %

C H IC A G O .

C O LD BONDS.

G O VER NM ENT,

NOT SUBJECT TO T A X A T IO N .

S T R E E T R’W A Y

P ric e an d P a r t ic u la r s u p on a p p lic a t io n ,

I arso n, Leach & Co.

BONDS.

a

EDWD. C. JONES CO.,

BONDS.
in k w

LOANS.

A. C. F R O S T & CO.,

M U N IC IP A L

A ' l' l s t r e e t ,

NEW

BONDS.

MUNICIPAL,

w

71
21
00
00
00
00
50
So
69
78
53
77
85
69
67
99

LO A N S—
When Due. Interest is payable at B row n w ood .
B r id g e B o n d s Total debt A pr. 10,1896. $60,198
68, March 1, $ 7 ,4 0 0 ..Nov. 1, 1909 T ax valuation, r e a l.........2,791,790
Subject to call at county’ s option. Tax valuation, personal. 1,454,468
5s, April, $5 ,500 .. .May 15, 1910 Total valuation 1 8 9 5 ....4 ,2 4 6 ,2 5 8
Subject to call after ten years. Assessment about % actual value.
Co u r t H o u se B onds—
Total ta x (per $ 1 ,0 0 0 )......... $10'0 0
6s, M arch 1. $ 3 3 ,4 0 0 ..Nov. 1,1909 Population in 1890 w as___11,421
Subject to call at county’s option. Population in 1896 about) .16 ,000

OF TH E

W H A N N & SCH LESIN G ER'

a

Net Debt.
$41,341,206
37,733,811
33,936,238
31,430.466
30,520,260
31,721,985
31,424,496
28,099,828
27,706,548
26,853,151
25,218,888
24,939,695
26,708,797
25,027,562
24,446,082
26,437,482

Brown County, Tex.—Following is a statement regarding
the indebtedness, e'c., rf Brown County which has been re­
ceived from B G. Sw^er, Com ty Treasurer.
County seat is Brown wood.

Guaranty Trust Company o f New York.

BOUGHT A N D SOLD.

16

$54,418,535
20,482,297

5 % GOLD FUNDING BONDS

M U N IC IP A L BO N D S
D e v o n s h ir e

$59,337,965
21,604,154

(REGISTERED CR COUPON.)

MASON, LEWIS & CO.,

&

Total bonded d ebt........$65,665,774
Sinking funds, &c............... 24,324,567

$ 3 6 5 ,0 0 0

F O R SALE BY

M ills

T O T A L DEBT. —The subjoined statem entshow s B oston’s total d ebt,
the items o f which it is made up, and the sinking fund held by the city,
against the same, on the dates indicated.
Feb. 1, 1896
Feb. 1 ,1 8 9 5 .
Feb. 1, 1894.
City debt p rop er....................$43,739,500
$37,894,691
$33,602,261
Coohituate water debt......... 18,261,274
17,761,274
17,055,274
M ystic water d ebt...............
............
............
102,000
Comity d ebt...........................
3,665,000
3,682,000
3,659,000

N E W LOANS.

N E W LO A N S .

3 1 S ta ts S t.,
BOSTON,

[VOL. L i l l

421 CHESTNUT ST R E ET .
P H IL A D E L P H IA .
y o r k

W. N. Coler & Co.,
BANKERS.

MUNICIPAL BONDS.
34 NASSAU STREET.

80 B R O A D W A Y ,
N E W YO R K .

B enwell & E veritt ,
£ ch e rm e rlio rn B u ild in g ,

6 W A L L BT,

M U N IC IP AL ISSUES IN TH E ST AT ES OF

W ALL

STREET.

W . J. Hayes & Sons,
BAN K ER S^

DEALERS IN M U N IC IP A L BONDS
Street Railway Bonds, and other high-grade in­
vestments.
BOSTON, MASS.,
C l e v e l a n d , O h io.
7 Exchange Place.
3 1 1 - 3 1 3 Sn peri o r 8 t ,
Cable Address, " K E X N E TH .”

N E W Y O R K & N E W JE RSEY
A SPECIALTY

M O RTG AG E LOANS

Bank and Trust Company Stocks
New York and Brooklyn

IN

TEXAS.
I n t e r e s t 7 P e r C e n t N e t.

BOUGHT a n d s o l d .

C LIN TO N
a W ALL

G IL B E R T

S T ., N E W Y O R K .

NO

COMMISSIONS charged borrower or lendei
until loans have proven good.

F R A N C IS S M IT H & CO ,.
SAN A N T O N IO , T E X A S .

A pril 18, 1886,]

THE CHRONICLE.

758

T O T A L D E B T .—The city 's bonded debt on A p ril 1, 1896, w as
Cape G irardeau, Mo.—W illiam H. Coerver, Mayor. This
statement has been corrected to date by means o f a special $1,521 ,650; w ater debt {included), $ 3 0 ,0 0 0 : sinking fund, $104,874 j
net debt, $1,416,806, The city has no floating debt.
report to the Chronicle from Geo. E. Chappell, City Clerk
DE B T LIMIT A T lO N .—The city charter limits Its debt to the am ount
and Secretary o f the School District.
o f $2,000,000, exclu sive o f loans for w ater w orks and sewers.

This city is in Cape G irardeau County.
LOANS-

*D>ert Due. Net debt Jan. 1 ,1 8 9 6 ----- $82,000
T a x valuation, reaL ......... 717,030
F unding —
5s. MAS, $50,000....... Meh. 1. 1910 T ax valuation, personal.. 194,980
Subject to call la 1900 A 1905 Total valuation 1895....... 912.010
Assessment Is >3 actual value.
NORMAL SCHOOL—
8s, .Li..' $14,000 .........Jan. 1 .1 905 Total tax (per 1,000)............ $29-50
Population In 1890 w a s.........4,297
Subject to eall.
T otal debt Jan. 1 ,1 8 9 0 .. $94,000 Population In 1390 w a s.........3.889
Slnklnsr trend...................... 12,000 Population 1896 {estimated) .5,000
IN T E R E S T on the funding bonds is payable at New Y o rlc; on the
Normal School bonds at St. Louis, Mo.
CAPE G IR A R D E A U SCHOOL DISTRICT.
5s, JA J, $8,500 .........Ju ly 1, 1910 I Tax valuation 18 96....$1,0 00,0 00
Subject to call at any time.
I Asssessment la abt. 8s actual value.
Total debt Feb. 1,1398_____$8,500 [ T ax rate per $ 1 ,0 0 0 ................ $5-00

A SSE SSE D V A L U A T IO N in 1895, o f real estate w as $4 6,44 5,
9 4 5 ; personal property, $2,368,200; total, $4 8,814,145; total ta x
ra te (per $1,000), $28-50, Including State tax, $6-85, coun ty ta x
$7-15 and city tax $14-50. Total valuation in 1891 was $45,953,704
in 1890, $49,320,670. P roperty is supposed to b e assessed at about
one-half its actual value.
P O P U L A T IO N to 1395 (estimated) was 9 0 ,0 0 0 : in 1890 it was
50.395; in 1880 It was 11,183.

Oregon City, O reg.—Hiram Straight, Mayor, This state­
ment has been corrected to date by means o f a special report
to the C hronicle from Thomas F, RyaD, City Recorder.
This city is situated in Clackamas County, Bonds to the
Log A bgeies, Cal.—Frank Roder, Mayor. This statement
amount o f §20,000 w ill soon be offered for sale.
regarding the financial cordition of the city o f Los Angeles
LOANS—
When Due. Sinking fu n d ........................ $3,000
has been corrected to A pril 1, 1898, by means o f a special re­
Net d ebt Mar. 1. 1390........ 78,000
C m - B onds —
6s,
MAN.
$
3
0
,0
0
0
.......
May
1,1901 T ax valuation, rea l............670,000
port to the CHRONICLE from W . A. Hartwell, Trea urer.
5*. MAN, 20,000 . ..May 1,1901 T ax valuation, p erson al... 139,808
This is the county seat of Los Angeles County.
s e , ........ 1 0 ,0 0 0 .............................. Total valuation 18 95......... 809,868

LOANS1CA«* Due.
B ond * o r 1970 ,o t» 1881 —
7*, JTAJ, $58,000........ July 1,1901
7*. W ar, 11,150................................
FP-OTHSKJ Rosies—
5s, May 1, $59.000..........1893-10 U

(Part due yearly on May 1.)
G eneral I mpsov-smext -86-7-8.

Bonded debt Mar. 1,1896.$60,000

School I mpro v em e st , 1889A-»5

59, A AO, $149,000........ 1896-1910
tPart due yearly «»u O c t l.i

JAJ $300,000... 1896 to 1933

6#, JA J. $150,000.........luty l, 1900
t t l.U O *lue yearly.)
s e w k r Bonus 1892—
B*,JAJ,
10,000........ July 1,1907
6*. JA J. 55 .000.........Jan. I. 1909 5s, MAN, $030.000____ 1.890-1912
(Part due yearly in Nor.)
ISTESt-VAtSew-EESrS-tEM, 1890—
W iTKR W o r k s B o n o - . 1.895—
5s, JA J, <280,500........... 1890-1911
i*u-. JAJ. <30,000 .. 1s’.W »<• 1936
(Part due yearly o n Ju ly l .)
M u x Sew kr, 1 9 7 1 9«n due yearly.)
7s, JA J, <17,000.........July 1,1901
INTEREST on the -ahool bonds, on the -ew er bonds o f is in i and
1892, on the p olice .station bonds and on the water works bond* Is pay­
able to New Y o rk ; on alt other bond* at the office o f th e City Treasurer.

M IS C E LL A N E O U S .

•Oregon City’s limits have recently been enlarged and the population
to 1896 Is es' jm ated at 4,000.

Shasta County, C al,—The figures o f indebtedness, etc.,
given below have been corrected by means o f a special report
to the C hronicle from W illiam .Tackson, County Treasurer.
County seat is Redding,
LOANSThru Due. |Tax valuation 18 9 5 ....$ 7 ,0 6 8 ,8 4 8
Co pu t H ouse A J ail —
I Assessment same as actual value.
5», FA A, 3 5 3 ,0 0 0 ... Feb. 15,1909 I state A O . tax fpnr$l,000).*S O '00
Subject to c all at any time.
j Population In 1890 w as— 12,133
Interest Is payable at Redding. 1 Population In 1830 w as-----9,492
Total debt Mar. 1.1896
$53,000 Population 1 8 9 6 (lo c a le s t ).10 0 0 0

M ISCELLANEO US.

ACCOUNTANTS.

j. Spencer Turner,

J

C.

H. White & Co.,

SUCCESSOR TO

B r tn c k e r liu ii; T u r n e r A C o „

AND ALL KINDS <>P

YORK.

F, J. P icard ,
CO n S U L T I N G

E X 6 I X E 8 B ,

C O I .1 M I B I S ,

m a n u f a c t u r e r a n d d e a l e r in

C O T T O N SAIL DUCK

BANKERS,
73 B R O A D W A Y , S E W

Assessment Is % actual value.

LOANSWhen Due. W aterdebt (in clu ded)........ 10,000 Total tax (per $ 1 ,0 0 0 )......... $39-00
Police Station, 1895—
F loatlnc d ebt...................... 21,000 Population in 1890 w as....... '3 ,0 6 2
AA-.J&J *49,000 ...1896 to 1935 Total
d ebt............................. 31.000 Population In 1880 w a s .........1,263
($1,000 yearly.)

O H IO .

Examinations and Reports Made for
Bankers and Investors of Railroad, Coal
Mining, Oil and Electric PropertiesREFERENCES SENT.

jc r r r o s c a n v a s f e l t i n g d u c k .
C AB I-OVE1UNG BAGGING.

in V AND HELL

M u n ic ip a l and F irs t M o rtg a g e
Railroad Bonds.

BAYESS DUCK. SAIL TWINE, * C
POPE "AWNING " STRIPES.
AGENT
U N IT E D S T A T E S B U S T IN G CO.
A foil (apply. «1I Width* mod Color*, *lw»y> '

Wesley Farrington,
L ere A u d ito r o f N. Y . L , K. Sc W . R K . C o ,

EXPER T ACCOUNTANT,

109 D t u n s S treet, N e w Y o r k

8 ECURE

BANK

VAULT8

203

BROADW AY, NEW

Room* sfls-soa Mail

and

YORK.

RZPKEsa Building.

IJBTX ON APPLICATION

REPORTS

QENUINE ’

1850.

1896.

The United States Life
Insur .nee Co.

■■■■x*a*%sssi
a rthou

g ftrt.

c . p Wh r t ..

; 'c i l u S
.

‘: w '

FLOYD,

HBALKR IN

G m tm m If. BURFORD.............Prealdeot
dOH N P.

Member* o f t he Consolidated Exchange,

AUGUSTUS

-

*MSBf

IN V E S T M E N T SE C U R ITIE S,
V i PIN K “ T H R K T . NP.W Y O R K .

TH E FINANCIAL

IN V E S T O R S

REVIEW,

FOR 1896

N O W READY

J I A R S T O \ ,J r .,

C I V I L K N O IN E K R .
ROOM •«>■!, BULLITT BUILDING.

Roundand Flit Rsmnnd 5-ply pl*te**nd Angle*.
FOR SAFES, VAULTS. Ac.
CAnnnt be Sewed, Cat of Drilled, end positively
Hander-Proof
C H B O J IE s r K K I , W O R K S ,
Kent A re . Keep A Hooper 8ts„
«..l. Men-f’e n ta th e U.8. B R O O K L Y N , N. V.

HAVEN & ST O U T,
BANKERS AND BROKERS,

o n 5 S »

lo n x

m i D I D CH ROM E S T F E L A N’ t) IRON

IK THE CITir OF nBW Y O R K .
This ©I® an® reliable Company mm hm the eatpesr- HOWARD A. HAVEN.
WRIGHT C. STOUT
o f forty-in* yearn o f pmmtmt
Inanma *,
wfctlel* ha# taiif&t ft that tkv *tm mm mm o f sneer-**
i* the adopt!®® o f
plm* o f >n#ar»nw, and the
pursrafl of a liberal peilcff toward* i«vtn it* Imutm
and tta Agenta, TTiwr
it pmmmm- In an
degree, tmt w&atmtiy
feythat
cpowHnMte® which i* the bmi powrible safeguard of
potteHkcdder* It# contract-* am \nmnimWM i I x c h R U g e C o a r u
NEW Y O R K .
after- two m u * The a n
protWImt
generally % «Hh*r mi 4-up. prtfKrr or vxtvwfaUm
rnm m ^ at itwoption o f 0m poMBjr-hoid^ It jfbrca B o y ttod S e ll R a ilr o a d S to c k * anil Bond**
tm days of grace fa m rm m t
m. pmmtum** >t*
on M a rg in o r fo r Vnnh a t 1*18th
pm% fcny-nr* year* •mmitatitiT
rnmrfmtmtm its a&Kscsfiit#smmfttj*
p er eon t,C om m ission ,
A c t iv e nnd- Hntcemmftsl A g e n t s ,ir ie h ln g to r e p resent th is C w / w ^ ,
e o m n w n ie n te
f r it h the
the H o m e Office.
&&M B rw $ A tc n y , W m r Fork*

FOR

ON RAILROAD PROJECTS ANI) PROPBRTIKB
KAlJr..*d* Donated on Beonomlo Prtn«plei>.
i9en*, -pecUlantloii* and Kstlmete* Farrs!HU6<L
(V)NSTRUCTION SUPERINTENDED.

P IIIL A D E L P IIIA .

Jos, O. Osgood,
Am.Soc.C. B.
f ’enw oltlng E n g in eer
R^TOrt* m tnrm tm m t Propertlea for Bankers
id lnreetof*.
and

Kxamlnatimi* In recrard to phyafcal conditton and
character, eamlnas, marjaa^ment. needs, value,etc.
H a llr n n d

I?n

L o c a t i o n a n d C 'o n a t r n c t f o n .

R R O A D W av

KJFW YORE

W M . FR A N K LIN HALL,
BOOKS

ACCOUNTANT A U flT K D

New forma designed for books o f account.
ftetUement ef Insolvent Estates.
♦IS B »ch a n g e Building, 5H S tate S treet, Boflton.

Fred. M. Smith,
70 SOUTH STREET,

A U B IJ R ? f# N E W Y O R K .
Make* *peel ally o f Bank Stock i. Municipal and
W ater Bond* and fam ish es Solicited Jnforaatio

THE CHRONICLE.

754

|VOL, L X II.

gauhcvs aucl ^rollers (Out o f 12*cu) ^gorfe.

A . O . Slaughter & C o., H enry
78
B A N K E R S A N D | B R «K E R S ,

C H IC A G O , IL L S .
Stock

Exchange, Chicago

S lo ck Exchange and Chicago Board o f Trade.

Jamieson

&

C o .,

187 DEARBORN

STREET,

&

C o., J. E. Craw ford & Son.,

AVENUE,

P IT T S B U R G , P A .
M EM BERS O F THE

N E W YORK STOCK EXCH ANG E,
P H IL A D E L P H IA STOCK EXCH A NG E,
PITTSBURG EX C H A N G E (3 MEMBERS),
CHICAGO 8T 0C K EXCH ANG E,
CHICAGO BOARD OF TR A D E .

N . H olm es 8c Sons,

STO C K S— B O N D S,
Members New York and Chicago Stock Exchanges.

Sproul
FOURTH

1 1 5 -1 1 7 L A S A L L E S T R E E T ,

Members New York

ST- LOUIS.

_______ PITTSBURG.________

CHICAGO.

BAN KERS.

P IT T S B U R G ,

Bond and TSto c k B rokers .

Street Railway Securities a Specialty.
305 P IN E S T R E E T .
S T . L O V IS , M O .
EDWAKD8 WHITAKSB.

W hitaker 8c H odgm an,
BOND AN D STOCK B R O K E R S ,

P E N *.

3 0 0 N o r th F o u r t h S tre e t.

S T . L O U IS .

CORRESPONDENTS

C h ica g o , I lls .
Private wire to New York and Philadelphia.

L oeb & Gatzert,
MORTGAGE BANKERS,
1 2 5 L i S A L L E S T R E E T ,'C H I C A G O .

Bank o f New York, N. B. A.
First National Bank of Philadelphia.

P I T T S B U R G ,

M IS C E LL A N E O U S .

P A .

E S T A B L IS H E D 1 8 7 L

W il l i a m W il s o n & S o n s , Established 1802.
W il s o n , Co l s to n & Co.,
“
1867.

W hitney & Stephenson, W ilson, Colston & C o .,

First Mortgages for sale in large and small amounts
‘netting investors 5,
and 6 per cent secured by
Improved and income-bearing Chicago city property.

N o . 67 F O U R T H A V E N U E .

P r in cip a l and In te r e st p a y a b le in G o ld .

Oldest Pittsburg Members N. Y . Stock Exchange.

B AN K E R S AND BROKERS

CORRESPONDENCE SOLICITED.

T . M ellon & Sons’ Bank,
A . G . Becker & C o .,

P IT T S B U R G H , PA .

Members of Baltimore Stock Exchange,

BAN K ERS,
21 (> E a st B a lt im o r e S tre e t. B a lt im o r e .

Investment and Miscellaneous Securities a spec­
ialty, and whole issues handled.
Exceptional facilities for dealings in all classes of
Southern Bonds. Loans on Collateral Securities
negotiated.

SESSION S & C O .,

(L N C O B J -^ R A T J D )

GENERAL

C O M M E R C IA L PAPER
154 La Salle St., Chicago, 111.

H art

&

F ran k ,

M ORTGAGE BAN K ERS,
» 2 A N D 9 4 W A S H IN G T O N S T R E E T ,

C H IC A G O , I L L .
O /
l

First Mortgages for sale on improved
Chicago City Real Estate. Principal and
^..Interest payable in Gold.
CORRESPONDENCE SOLICITED.

B A N K IN G , C O L L E C T IO N S ,

IN V E S T M E N T

BANKERS

CO LU M BUS,

IN V E S T M E N T S .

OHIO.

(Established 1881.)

C IN C IN N A TI.

F ir s t M o rtg a g e L o a n s on C olu m bu s R e a l
E sta te a S p e c ia lty .

Seasongood & M ayer,

R O B E R T S B R O S .,
IN V E S T M E N T B A N K E R S ,

S . W . C o r n e r T h ird and W a ln u t S treets,
C IN C IN N A T I, O H IO .

MUNICIPAL BONDS
High-Grade City, County, Town and School Bonds,
issued in leading prosperous States Of the Union,
especially adapted for safe and permanent invest­
ment for Estates and Trust Funds.

I. B. Thurm an 8c C o., Irwin, Ellis 8c Ballmann,
BANKERS,

CHARLES HOBOMiX*

BANKERS AND BROKERS,

8 2 3 M O N A D N O C K , C H IC A G O , I L L .

D eal in C in c in n a t i Bo n d s ,
Highest Grade Municipal and Railway
N ew N o. 3 7 E ast T h ird S i.. C in cin n ati, O h io.
Bonds Bought and Sold.

Spokane,

W ash .

S ta te ,

C o u n t y , C it y , S c h o o l B o n d s ,
W a rra n ts a n d L oa n s,
N E T T IN G 5 TO 8 P E R C E N T.

L. S. R o b e r t s .
W . B. R o b e r t s .
CORRESPONDENCE SOLICITED

RUFFALO, X. Y.

J. M . Klingelsm ith,
E R I E C O U N T Y S A V IN G S B U IL D IN G .

ALL LOCAL AND WESTERN N EW
YORK SECURITIES D EALT IN.

SOUTHERN.

Davenport & C o.,
H A N K E R S

AN D

B R O K E R S ,

PHILADELPHIA.

E. W . Clark & C o.,
B AN K E R S AND BROKERS

N o . 139 South F ou rth St.,

R IC H M O N D , V I R G I N I A .

P H I I .A D K I .F H I A .

E S T A B L IS H E D 1 8 6 0 .

Correspondence solicit*! »nri information furralshed about Southern State, Municipal and Rallroad Investment Securities
Reference—Bank o f New Torn N. B. A .

Transact a general banking business. Allow
Interest on deposits.
Members o f the Philadelphia and New York Stock
Exchanges, and connected by private wire with
New York.

C . W . Branch 8c C o.,

Edward B. Smith 8c C o.,

BAN KERS AN D BROKERS,
St a t e B a n k B u il d in g ,

B AN KE RS AN D BROKERS,

R I C H M O N D ,

VA.

Members Phila. and New York Stock Exchangee.

John W . D ickey,

W . G. H o p p e r .
H , S. h o p p e r .
Members o f Philadelphia Stock Exchange.

BROKER

W m . G. H opper & C o.,

SOUTHERN

S E C U R IT IE S .

J. P. A n dre M ottu 8c C o
IN V E S T M E N T

BROKERS,

N O R FOLK, VA.

&

M cC art,

B A N K E R S AND B R O K E R S ,

C R IP P L E

CREEK,

CO LO .

If you desire a Pay Mine, stock paying regularly
monthly dividends, Bonds and Leases undeveloped
mining property, or organized companies, write for
information.

Ladd 8c T ilton ,
BAN KERS,

P O R TLA N D , OREGON.
ESTA B L ISH ED IN 1859,

B O U R S E B U IL D IN G ,

Private wires connecting with Washington, Balti­
more. Philadelphia, New York, Boston and Chicago.
New York Correspondents: Messrs. Ladenburg,
Vhalmann & Co. and Lehman Bros.

AUGUSTA, GEORGIA,

Graham

PHILADELPHIA.

T r a n s a c t a G e n e ra l B a n k in g B u s in e s s
Co l l e c t io n s G iv e n S p e c ia l A t t e n t io n Long distance Telephone:
* 114 Co r t l a n d t .”

H aight

Cable Address:
“ R u d e r a t io n , N. Y.

8c Freese,

Bankers & Commission Stock Brokers,

STOCK AND BOND BROKERS,
28 South Third Street, Philadelphia.

53 B R O A D W A Y , N EW Y O R K .
8 5 S T A T E S T R E E T , BOSTON.

Special attention given to Investments. Dividends
and Interest collected and promptly remitted.
P. O. Box 1:448.
Local telephone 160.

S T O C K S , B O N D S A N D G R A IN
Bought and Sold at 1-16 Commission.

S p e cia l a tte n tio n g iv en to o u t -o f-to w n a c ­
cou n ts.

Joseph G . Martin,
STOCK

BROKER

SOUTHERN INVESTMENTS.

A N D D E A L E R IN

State, County, City and Railroad Bonds. Indus­
trial Securities. Farming and Timber Lands, Minog and City Properties. ,

iU lS C E I,I,A !S E O lJ S S E C U R I T I E S ,
t o State S t., B o .t o n . 0 1 a ../

TR ANSAC T A
G ENERAL
STOCK EXCH A N G E

B AN K IN G
BUSINESS.

AN D

INVESTMENT BONDS.
Accoun‘ 9 of Banks, Bankers and Individuals
received on favorable terms.
N A T IO N A L B A N K REFERENCES FU R NISHED.

U P T O W N O F F IC E . 1 1 3 2 B R O A D W A Y .