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otnmtrtt
AND
/
MAGAZINE,
MERCHANTS’
HUNT’S
Nsy.
JUwisppn,
^
COMMERCIAL INTERESTS OP THE UNITED STATES..
REPRESENTING THE INDUSTRIAL AND
NO. 1,191.
SATURDAY, APRIL 21, 1888.
YOL. 46.
1.13
-—.—-yf
CON
Underhilling and How to Pre¬
vent It
Norfolk
&
Traffic
Western
495
Local
Increased
Nets
Earnings for
February
Bondholders and Illinois Water
Bond Decisions
498
Monetary & Commercial Eng¬
lish News
499
Commercial and Miscellaneous
News
500
496
(Petroleum
European Subscription (including postage)
Annual subscription in London (including postage)
do
Six Moe.
do
do
......
These prices include the Investors’ Supplement, of
issued once in two months, and furnished without extra
subscribers of the Chronicle.
JB1 8s.
120 pages
charge to
Subscriptions will be continued until definitely ordered stopped. The
publishers cannot be responsible for remittances unless made by drafts
Post Offioe Money Orders.
file cover is furnished at 50 cents; postage on
cents. Volumes bound for subscribers at $1 00.
or
A
London
Messrs Edwards &
the same is 18
Aleuts:
Smith, 1 Drapers’ Gardeus, E. C., who will take
subscriptions and advertisements and supply single copies of the paper
(44,O03.O<X>)
(23,730,000)
(19.130,000)
88.020.971
4,733,500
1,772,037
1,251 il89
938/; 31
971,194
1,210,277
000,305
104,318,118
4.872,100
1,721,230
1,300,404
881,375
072,408
594,481
+ 24-1
bbls.)
Philadelphia
Pittsburg
Baltimore
Total Middle
Chicago
Cincinnati
Milwaukee
Detroit
Minneapolis
Grand Rapids
Wichita
Duluth*
WILLIAM B
.
.OYD.
JOHN G. FLOY
^
J
WIlLLIAlfl O. DANA & Co., Publishers,
102 William Street, NEW YORK.
Post Office Box 958.
CLEARING
HOUSE
RETURNS.
exchanges for the week ending April 14 make a rather
unsatisfactory exhibit, the loss in the aggregate from the pre¬
vious week reaching over one hundred and seven millions Of
dollars in which all but eight of tlio cities included in our
statement participate.
The greater portion of the falling off
($89,728,033 of it) is at New York, and is the result mainly of
on
the Stock Ex-
change, although due in part to the fact that the previous
week’s figures included tho usual quarterly settlements.
Speculation in railroad properties at other points also suffered
diminution, both compared with the preceding week and the
week of last year.
Tliis is particularly true of Boston, where
the total sales for the week were much
less than half what
they were in 1887.
Instituting comparison with the similar period of a year
ago, we find that there is a decline in the whole country of 17
per cent, the falling off at New York reaching 21‘6 per cent,
and outside of New York being 7*3 per cent.
Only a limited
number of ciiies record important gains and they are Indian¬
apolis, 31'9 per cent; Springfield, 241; Memphis, 23*5 ; Nor¬
folk, 23 ; Grand Rapids, 21*8; Peoria, 21'4, and Denver, 20'6
per cent.
On the other hand heavy losses are shown at Balti¬
more, Wichita, New Orleans, St. Paul, Cincinnati and Boston.
Dealings in shares on the New York Stock Exchange for 1
the week cover a market value of $64,330,000, which contrasts |
with $107,778,000 for th© corresponding week a year ago.
FoUowing our usual plan of deducting two-and-a-half times
these values from the New York exchanges to arrive at clear¬
ings having other origin, the result reached is $438,689,745
this year, against $495,406,991 in 1837, or a decrease of 11*5
per cent.
-2"3
993,338
New Orleans
Louisville
Kansus City
Total Southern
+10-9
+1-8
+ FH
-272
81,848,041
90,052,005
-97
95,848,749
54,939,104
9,404,400
3,704,000
51,543,013
12.000,750
4,013,032
3,508,982
1,444,837
2,947,555
2,319,057
40 o
—215
52,049,571
+4-8
10,391.700
3,905,954
3,800.114
2,077,570
-151
—0*2
“
+0-2
+81 "9
+0-0
—15-0
Outside New York
-+64-0
+20-1
+24*4
+129
+19-0
+28-6
-+0-5
+0-0
+34-4
050b 48
+■21‘4
2,803,370
3,145,402
3,132,070
3,552,407
602,109
749,122
1,494,868
2,087,859
8,707,15m
2,590,729
4,500,158
494,438
—4-2
-10-5
+ 20-0
-221
+2P8
1,018,000
—20-4
94,012,500
94,303,808
-0-8
94,480,382
17,098,707
17,135,551
+3-3
10,7! 2,824
—4*8
1,088,589
7,409,099
—21-4
—12 8
—3 8
-7 5
+23 5
-or.
-25-0
1,389.541
9,470,493
2,231,873
+9-5
+38-1
+180
+ 10-7
+53
795,107
1,440,048
8,494,574
5,408,030
8.472,319
1,720,083
735,779
040,379
011,191
880,2.-3
-17-5
+2P4
42,801,700
44,050,399
+2-0
40,805,015
+8-8
15,092,929
+P4
14,810,230
+-0-2
-17-0 1.041.007.746
+5-8
15,910,188
j
3,293,005
2,228,492
1,291,811
3,130,920
3,191,352
2.770,002
3,690,253
554,002
772,430
-j-^8
1,153^483
834,233,302!
+05
+ 27-0
-20
+9-7
+38-8
-07-0
1,337.143
321,205
033,748,107; 1,125,273,935
Total all
-2 2
+111
08,776,402
13,203,510
18.808,777
2,132,530
731,853
San Francisco
+8-4
+10*3
987,017
588,080
100,759,987
5,203,312
Memphis...
-t-22’7
—7-0
7,831,903
Galveston
Norfolk
+230
—13-9
Bank
the much smaller volume of transactions
+0-5
285|706
St. Louis
•
—80
04,341,401
11,180,908
15,180,320
Topeka*
Total Western
DANA.
+3-0
+03
+14-7
115,713,553
1,984,060
Denver
Bt. Paul
—
-29-1)
(+15-9)
(+175-4)
99,504,834
2,904,403
Cleveland
Columbus
Peoria
Omaha
—
50,401,723
11,330,172
11,050,140
3,791,077
1,900,200
Indianapolis
at Is. each.
88,209,148
5,380,400
2,083,457
1,418/398
1 ,058/277
1,078,404
(47,848,830)
Boston
Providence
11 28
£2 7s.
—15-0
2 8
(270,400)
bushels.)
Lowell
$10 20
6 10
(—6-01
(2,150,500)
(508,200)
Sprlnvfleld
For One Year (including postage)
For Six Months
do.
(2,205,010)
(340,000)
(20.393,887)
(37,780,000)
(1,272,896)
New Haven
Portland
Worcester
Subscription—Payable In Advance :
+4-4
(-41 *U
(-40-8)
(+7-5)
(+24-0)
shares.)
bales.)
Total New England...
Terms of
6S8,242,783
701,851,091
Hurt,ford
%\u ©hmiicle.
21'0
509,614,745
New York
/Sale* of—
(Stocks
(Cotton
(Grain
*
?
1
497
P. Cent.
1888.
P. Cent.
1887.
1888.
THE CHRONICLE.
The Financial Situation
492
The Pnrcl'.afe of Bonds and
the Money Market
493
Water
Bonds
and
Judge
494
Gresham’s Decision
| Week En&’Q April 7,
Week Ending April 14.
T_E NTS.
-7*3
300,421,944
6,58“,855
8,7 31.055
352,704,903]
+8-S
+8-6
Not included In totals.
Our usual
telegraphic returns of exchanges for the five days
are given below.
In comparison with
the similar period of last year the aggregate for the seven
cities records a loss of 12*7 per cent. The estimate for the full
week ended April 21, based on these telegraphic figures, points
to a decrease from the week of 1887 of about 10*3 per cent.
Messrs. R. G. Dun & Co. report the number of failures for the
week ended to-night (April 20) as 195 (177 in the United States
and 18 in Canada), against 222 last week and 199 for the same
have been received and
time
a
year ago.
Week
Returns by
Telegraph.
1888,
1887.
$
461,134,867
$
582,171,300
Baltimore
(1,160,114)
70,308,105
57,338,725
10,279,440
Chicago
53,835,000
St. Louis
15,498,035
5,504,982
(2,052,945)
73,851,917
59,248,393
12,208,040
47,900.000
14,888,540
6,080,327
New York
Bales
of Stock (shares)....
Boston
Philadelphia
New Orleans
Total, 5 days
Estimated 1 day
Total full week...,.
Balance Country*
Total week, alL
*
Week End'g A pril
Ending April 21.
093,895,880
144^80,148
P. Cent.
P. Cent.
*
—17-3
(-43-2)
-4-8
-3 2
-15 6
45.5W.000
+7+
14,915,000
0,734 003
-17-7
-12-9
152,603,831
-55
940,068,457
—11-7
92,834,486
+3-6
931,288,052 1,041,893,043
-10-3
For the lull week, based ou last week's returns.
-21-0
502,902,700
(1,034,649)
72,899,004
49,761,520
9,000,204
+12-4
700,455,126
888,181,228
90,102,424
1888.
14
(— 45‘5>
-10-4
—70
-29-7
+7-2
+4-7
-3-5
—18*2
701,839,040
130,100,487
837,940,138
05,707,432
933,713.505
-18-8
-18-3
.
-3-7
-170
[Vou XLVI.
THE CHRONICLE.
492
prospect for a farther
advance in the rates, so that
the
long bills can realize a profit by their
THE FINANCIAL SITUATION.
purchase. One can get an idea by the statement of ex
The money market rhas become distinctly easier under
ports of cotton, breadstuffs, etc., issued this week, how
the influence of the passage of the resolution by the House
completely dependent the exchange market now is upon
of Representatives on Monday declaring the act of 1881
the security movement for its supply of bills, the figures
relative to the purchase of bonds to be still operative, and
showing that compared with last year there is a loss of
the notice of Mr. Fairchild to receive proposals for sale of
about $13,000,000 in the value of our March exports
Governments on Monday the 23d and daily thereafter.
of the leading articles named.
This change in the conditions of the money market is
Quite an unsettled condition of political affairs prevails
most conspicuously seen in its effect upon the banks.
in Europe, which it is claimed has in some measure inter¬
Heretofore they have refrained from making time loans
rupted the foreign demand for our securities as well as
or purchasing commercial paper, purposing to
affecting foreign exchange.
We last week referred to
their resources against any possible emergency, which
General Boulanger and the popular movement in his favor
might call for the use of all the money they could con¬ as
being a disturbing influence, threatening especially the
trol; so they loaned freely on call, keeping their funds
stability of the government in France. This week, while
within easy reach.
Since the passage of the resolution that feature of the situation has been growing more dis*
the banks have been in the market, with offer¬
turbing, the health of the Emperor of Germany has sud¬
ings of time loans and have also been more
denly become so very critical as to be a source of great
purchasers of commercial paper, but in both-cases they anxiety. Latest reports are hardly more assuring, the
have given preference to the best security.
Money on belief appearing to be general that he is not likely to sur¬
call, as represented by bankers’ balances, has not suffered vive
many days.
His death means a younger and, it is
by reason of this change, the offerings continuing
feared, a less conservative ruler to direct the affairs of
The range for the week has been 3 to l-J per cent, the
Germany. The tendency, therefore, for the moment, is
higher figure representing the loans
on mixed towards more radical, more impulsive guidance in both
and the lower those on first-class collateral.
The aver- France and
Germany. Most likely the danger is exagger¬
age has been about 2 per cent.
The banks and trust ated, but in the feverish and sensitive condition of Euro¬
companies are down to 2£ @ 3 per cent on call, the busi.
pean politics, it seems as if a very little imprudence or
ness done this week being nearer the former rate than the
holders of these
husband
libera*
liberal.
security. Time
loans on prime collateral are quoted at 3 @ 3£ per cent
for sixty days to four months, and 3£@5 per cent for
ninety days to six months, while loans for the remain,
der of the year can be made at 5 per cent as readily as they
be for six months.
Mixed collateral on loans is not
desired by atjy lender, and where this class is offered much
higher rates are demanded. Although the banks are now
latter, these
institutions requiring good
rashness could do
great harm,
and this possibility for the
business development of
every kind. The situation in France is especially disquieting
not alone because of the prominence of General Boulanger,
but also because of the growing weakness of all restraining
influences, as indicated in the rapidly succeeding govern¬
can
ments, each later one being of shorter life than its
predecessor, until the period appears ripe for a radical
change. Out of such combustible material, a General
in the maiket for commerc al paper, rates show no mate¬
made leader by popular will, would have a difficult task to
rial change.
keep the peace at home and abroad. This is the way it
Tne cable reports discounts of sixty day to three months
looks from the American standpoint, but perhaps present
bank bills in London at 1^@1| par cent, while the open
upturnings and excitement are only the manifestation of
market rate at Paris is 2 to 2£ and at Berlin and Frankfort
the public desire for a more stable government and will
1£ per cent. This indicates ease at all points except
prove to be its method for obtaining it.
Paris, where the market is probably influenced in some
No material change has taken place in the condition of
degree by the strained political situation. The lower
general trade. It is hoped that now that the Secretary
rate
in London is no doubt in good part due
has authority and has made proposals to purchase ooods,
to the completion of the consols settlement which was
business will improve.
The course of the iron trade is
of course of exceptional magnitude, but is probably in
watched with unusual interest as affording some clue to
part also the result of the improved Bank ex omit. Brit¬ the future outlook. No improvement in the tone of that
ish consols have been quoted lower, touching 99 9-16, but
market can yet be noted, though from some points there
the later cables show a slight improvement.
Tne Bank are
reports of indications of a reaction from the prevail,
reports a gain for the week of £.225,000 bullion ; -his, we
ing depression. The Iron Age last week published its
are informed by a private cable to us, is the result of an
monthly statement of the production of pig iron, showing
import, mostly from Egypt, of £312,0|)0, of a receipt from a further diminution in the number of furnaces in blast,
the interior of Great Britain of £143,000, and an export,
but a slight increase in the weekly capacity owing to the
principally to Lisbon, of £230,000. Tne Bank of Frauce
resumption of operations by some of the larger producers.
also reports a gain cf £125,000 gold for the week, and
The total weekly capacity of the anthracite and bitumin¬
the Bank of Germany, since the last return, shows an in¬
ous establishments
at work on April 1 is figured at 101,crease of £1,304,000 gold.
140 tons, which compares with 97,490 tons on the 1st of
Our foreign exchange market has been firmer this
March, 121,307 tons on January 1, 130,487 on November
week, the nominal rates beiDg advanced on Monday
1, and 125,381 tons April 1 a year ago. This shows
to 4 86J- for long and 4 88£ for short.
Tnis is in part an
important reduction from the high level mark.
due to a less free movement of securities to Europe and
The reduction in the output of iron affects of course
to a lack of bills drawn against stocks and bonds, but
the demand for coal, which fact helps one to understand
also it is claimed to have been in part the result, of a de¬
Mr. John H. Jones’ figures of the production of anthra¬
mand for long sterling, stimulated by cheaper money
cite during March, issued this week.
It appears that
here, bankers buying these drafts in the hope of
while the amount of coal mined was 225,543 tons less
making a fair profit by the time the bills run to ma¬
than in the same month last year, stocks at tidewater
turity.
In view of the situation of political affairs in
points increased from 232,501 tons to 465,709 tons.
Europe, the opinion among dealers is that there is a 1
time
being acts unfavorably to
April
THE
21, 1888.J
What the increase in
stocks was in March,
1887, we do
know, as the figures were then for a time withheld,
increase between March 1 and May 1
not
493
CHRONICLE
but as there was an
Taking the foregoing in connection with the subTreasury operations, the result is as below .
Into Banks.
Week ending April 20,1888.
Out of Banks.
Net Change in
230,000 tons, it would seem safe to assume that
Gain. $3,454,030
$1,367,000
Interior Movement, as above
$4,821,000
130,000 tons of the increase occurred during March— Banks’
100.000
5,530,000 Gain.
5,600,000
Stih-TrAAflury operations
that is, that stocks at the end of the month were then
Total gold and legal tenders
$10,421,000
$6,867,000 Gain. $3,554,«00
about 600,000 tons.
On that basis the consumption of
The following table indicates the amount of bullion in
2,452,520 tons for March, 1888, would compare with the
principal European banks this week, and at the
2,781,880 tons in March, 1887, indicating a falling off of
corresponding date last year.
329,000 tons.
In railroad matters there have been one or two special
April 21,1887.
April 19,1888.
of about
Bank Holdings.
...
incidents
mary
Tae Baltimore & Ohio has
submitted
a sum¬
fiscal year,
letter on the
of its earnings for the first half of its
and Mr. Gould has written and
published
a
Banks of
Silver.
Gold.
....
France
£
£
£
England..
Total.
21,495,900
44,519,671 47.806,737
29,870,000 14,935,000
6,227,000 14,567,000
5,094.000 8,323,000
2,955,000 1,478,000
6,973.000 1,118,000
21,495,900
02,320,408
44,8)5,000
20,794,000
13,417.000
4,433,000
Gold.
Silver.
£
lotaL
£
£
24,336,702
47,527.632 46,087,974
23,145,000 15,430,030
6,345,000 14,010,000
4,817,CC0 8,237,000
2,659,00.' 1,330,000
711,000
0,992,000
24,336,702
93,615,806
38,575,000
20,385,000
13.054,000
3,989,000
7,703,000
literary effort, the latter
is a decided success ; but it contributes very little to the
fund of current information.
It tells U9 that last year’s
Germany.....
A.'-sL-Hung’y
Netherlands..
Nat.Belgium.
National Italy
that there has been considerable new
competition, and that there are large interest pay¬
ments to take care of, the current half year—facts
already well known—but it says absolutely nothing
about
current
earnings, gross
and net, about
which there is a wide desire to obtain knowledge.
Mr.
Gould’s remarks convey the impression that he is indiffer¬
Tot. this week 117,131,571 88,227,737 205.362 308 115,822,334 85,835,974 201,658,308
Tot.prev.w’k, 115,247,803 87.568,167 202.815,970 115,202,064 85.425.808 200,627,870
Missouri Kansas & Texas.
As
a
crops were poor,
ent whether the Missouri Pacific
retains control of the
property or not, which is important as far as it goes, but
really the matter of most moment is the road’s present
earning power, and there we are left as much in the dark
as before, the latest information being down only to the
1st of January.
With reference to the Baltimore & Ohio,
the passing of the dividend was of course expected, but
the exhibit of earnings is hardly so satisfactory as looked
for.
Possibly, however, the new management have not
yet had sufficient time to develop full results and re-arrange
things on a better basis. Barring these developments
however, the situation as to railroad traffic and earnings
seems to be improving, and
now that comparison is no
longer being made with the heavy and extraordinary
totals precedir g the goiag iuto eff-nt o? th* Inter-State
law last year, gross earnings are again showing an increase
as may be seen by our statement for the second week of
April on another page.
Under the stimulus afforded by the passage of the House
resolution on the bond purchase bill and Secretary Fair¬
child’s prompt action thereunder, the stocx market has
been strong and active this week.
There has been some
hesitation and irregularity at times, but in the main there
was a strong tone and a pretty general rise in prices.
The
Burlington & Q nncy advanced its rates to the now sche.
dule, which has now been adopted by all the roads, and the
strik 1 difficulty no longer p'ays a prominent part in affairs
so the disposition ot str.ck operators is to take a more hope,
ful view of things.
New York & New England has been
quite a feature in the advance, but as a group the stocka
of the Pacific roads have been most conspicuous.
Tne
explanation of the strength of these properties one can
find in our statement of net earnings on another page,
showing for February this year net double those of last
year.
Central of New Jersey has also advanced on ex.
cellent earnings.
The following statement, made up from returns collected
by us, shows the receipts and shipments of currency
and gold by the Mew York banks during the week ending
yesterday.
Week ending A pril 20,1888.
Currency
Cold
Total gold and legal tenders....
Received by
Shipped by
N. F. Banks. N. Y. Banks.
$4,803,000
15,000
$4,821,000
$797,000
570,003
$1,387,000
Net Interior
Movement.
8.091.000
THE PURCHASE OF BONDS AND THE MONEY
MARKET
Up to this date the House of Representatives has appeared
than the Senate. There is in
the former fully a3 large a proportion of unsound men
financially (judging from experience) as in the latter, and
yet that clas9 seems at present to be guided more by conser¬
vative leadership. We have a remarkable instance this week
to be in better drill this year
iu the action
on
the Bond Purchase Bill.
As
our
readers
know, the Finance Committee of the Senate accepted this
measure
substantially as it came from the" House and
urged its pa sage. Instead of that result, all sorts of
amendments were propose! and fiaa.ly, in spite of the
earnest opposition of Mr\ Morrill and Mr. Sherman of the
Finance Committee, it went through with a large majority
wholly changed, the silver attachment upon which we
remarked last week being the conspicuous feature.
In
this shaps the measure was returned to the House where
instead of being accepted it was referred to thn Ways and
Means Committee, and in its place on Monday the follow¬
ing rerolution was brought before the House so cleverly
by Mr. Wilkins, Chairman of the Banking and Currency
Committee, that before the objectors realized the s tuation,
all power to stave off a direct vote was forec-lo ed.
by the House of Representatives, That it is the sense of this
appropriations for sundry civq
expenses of the Government for the liscal year ending June 30, 1892^
and for other purposes, approved March 3, 1891, which is as follows:—
“That the Secretary of tlie Treasury may at any time apply the surplus
money in the Treasury not otherw ise appropriated or so much thereof as
he may consider proper to the purchase or redemption of United States
Bonds: Provided, That the bonds so purchased or redeemed shall consti¬
tute no part of the sinking fund, hut shall I e redeemed and cancelled,’’
•was intended to he a permanent provision of law ; and the same is hereby
declared to have been since its enactment and to he now, in the opinion
of the House, in full force and effect.
Resolved
ITouse that Section 2 of the Act making
rul-s
and adopt the foregoing resolution, which after a short
debate was done, two-thirds of the m -mbsrs present hav¬
ing voted in its favor, although Mr. Bland and Mr. Weaver
pleaded bard for the Senate s lver bill.
The
proposal of Mr. Wilkins was to suspend the
The House has thus attained
by one act two good ends
we trust it will
not spoil its record by less desirable
legislation later in the session. First, it has relieved the
money market, for the summer months at least, from a
panicky, or if we may use the word, hyster cal condition
which has so long prevailed.
Up to tbis time our indus¬
trial interests have been confronted daily with the possi¬
bility that current accumulations m the Treasury would
and
reserve.
Mr. Fairchild had reached the
Gain. $4,009,000
Loss.
555,000
limit of the usefulness of
Gaia, $3,454,000
markets at interior cities
depositary banks; all the money
continued active, not only need
exhaust ths bank
THE
494
they had, hut keeping up a periodic call on
this centre; so with the threatened Government drain,
there has not been a moment’s real relief from anxiety all
iDg the funds
winter
long.
anticipated that any
flood of currency would be thrown upon the market as a
result of bond purchases.
The Secretary must fail in
finding Government securities fast enough if he tried, to
let out past accumulations so long as a further surplus of
about two and one-half millions is every week coming in
Of the boating stock of bonds
which needs an outlet.
about 54 millions (par value) are held for depositary banks,
and of course if any of those are sold to the Treasury the
transaction simply decreases the official deposits, doing very
little good to the money market, for the only currency
which would leave Government vaults would be enough
to cover the difference between the price of purchase and
110, the figure which is the limit of the deposit now.
We do not, therefore, anticipate that Mr. Fairchild will
be able to do much more than obtain on the average two
We cannot
or
[VOL. XLVI.
CHRONICLE.
believe and have never
WATER
JUDGE
GRESHAM'S
DECISION.
remarked upon Judge Gresham’s
decision in the United States Circuit Court at Chicago in
the Galesburg Water Bond case. That article has attracted
wide attention, as the decision was a surprise to the pub-ic;
for water bonds have hitherto been held in high repute,
whereas if we must accept that determination as conclusive
of the law, they and other securities issued by water, gas
and electric light companies in cities of recent growth will
find little favor hereafter.
The many applications we have
received by letter and in person for more information have
led us to procure a copy of Judge Gresham’s opinion and
also to obtain and publish on a subsequent page a com¬
munication from Messrs. Turner, McClure & Rolston, the
lawyers who represent the Farmers’ Loan & Trust Co. in
the Galesburg matter, setting out the particulars respect *
ing other Illinois decisions which have been made cover¬
ing the same subject.
Two weeks ago we
The
facts upon
which the conclusions in the present
of bonds a week; if he can secure that
Galesburg case are
without interfering with the depositary bank
three millions
amount
AND
BONDS
based were correctly stated in our
previous article ; but as those statements have been ques¬
we extract the recital of facts from Judge Gresh.
opinion, which so far as.the recital goes only con¬
firms what was previously said.
For greater clearness we
have separated the Judge’s statement into paragraphs,
numbering each.
(1.) By an ordinance pas3ed on the 12th of May, 1883, the City of
Galesburg granted to Nathan Shelton the right to cor struct and main¬
tain within and near the city,'water works to supply both nubile and
private wants for a term of thirty years; the. yearly rental for tire
hydrants being specified in the ordinance. This ordinance was accepted
by Shelton. At and previous to this time, the city had maintained an
imperfect system of water works, and the old mains were sold to Shelton
at a price to be ascertained In the future, and paid for in water rent.
Shelton caused the Galesburg Water Company to be organized, aud as¬
signed to it his contract with the city. * * * The Water Company
proceeded to erect the works and lay down additional mains, and on the
6t'i of December, 1883, tho city was notiiied that the works had been
completed, and that the Water Company was ready for the test called
for by the ordinance; and on ihe same day, the members of the Common
holdings, we shall be fully satisfied with the effect of the
tioned,
measure.
He will thereby lift the anxiety as to further
am’a
weekly accumulations in the Treasury, his daily receipts
and payments balancing.
When, then, it may be asked, are we to get out past
accumulations—that is to say, the amount of surplus
already in the Treasury ?
Our answer is, they will,
according to present appearances, be disbursed just at the
time when the market, that is when trade interests, need
them most, beginning with and after the first of July,
when with pretty free appropriations and surplus revenue
cut down by tax reduction, there will be no current sur¬
plus. If that condition is reached—and we think it is
the logical conclusion from present appearances and cur¬
rent events—every purchase of bonds after the new fiscal
year begins will afford a corresponding disbursement of
If the market could depend upon
old accumulations.
these two circumstances (1) that Government accumula¬
tions of currency would stop with the current week, and
present, such test was satisfactorily made, as appears
ordinance of ihe Common Council, passed on the evening of
Council being
from an
the same day.
made both as to the character
In the summer or fall of 1*81 the Water
Company admitted its failure to supply water according to the terms of
(2) that Treasury vaults would
ten
a the contract, and further time was given it to sink gang-wells, which it
was thought would secure an abundant supply of water.
month beginning with July, an active fall business
After sinking
such wells the Water Company claimed that it was able to fulfil the
be assured. A long step towards attaining that end is the
contract, but it failed and refused on request to demonstrate this fact by
a proper test of its works and of its supply, and the proof shows that it
authority conferred upon the Secretary by the
was not able to fuliill tbo contract.
of this week to purchase bonds.
(3.) On the 1st of June, 1885, the city by an ordinance rescinded the con¬
Still another good purpose has been attained by that tract with Shelton, and by its oftlcofs repossessed itself of its old water
Such action is in the direction of conserva. mains for use and protection from tire, aud brought this suit in the
resolution.
State Court at Galesburg to sot asldo the contract, for fraud and nontism, for it relieves whatever of timidity the silver
compliance on the part of the Water Company. The ordinance granting
of the Senate bill excited.
We do not mean, as we ex¬ the franchise to Shelton required him to furnish pure water of a maxi¬
mum quantity, and provided that the city should not be liable for any
plained last week, that the provision of the
hydrant rents for such time as tho works should not supply the required
to would prostrate our industries ; but we do mean that amount of water. *****
(i.) The ovidence conclusively shows that the Water Company failed to
anything which in the least disturbs confidence
comply with its contract, although a reasonable time was afforded it to
the direction of checking enterprise by making capital less do so; that the wrater furnished was impure and insutlicient in quantity;
it was drawn, in fact, from a creek and swamp, which were pol¬
venturesome, and is therefore harmful.
As the matter that
luted by the drainage from slaughter houses and by night soil and dead
now stands, all the good the Senate bill could have ac¬
animals dumped into it by scavengers. The Water Company thus trilled
complished has been attained, while all the evil that with the health and tho lives of tlio people. It is not 'contended, T
that Shelton or his sucoessor, the Water Company, complied with
measure could have wrought has been prevented.
We thiuk,
tho contract.
disgorge
(2.) A few months
and
later complaints were
quantity of the water.
millions
would
resolution
portion
r
bill referred
tends in
trust
that this hopeful view
future events,
will not be disturbed by
but that this action on the
bond purchase
proposal foretokens a discrimination in legislation which
is to prevail for the remainder of the session.
What is
mainly needed now is to ignore cranks and isms and push
forward tax reduction, giving the country the assurance
that surplus revenue will substantially cease with this
fiscal year.
Mr. Mills has made a capital beginning this
Let us have the measure he has introduced or
week.
something better as speedily enacted as so large a subject
will permit.
(5) On the application of tho Farmers’ Loan <fc Trust
a party defendant to tho suit in the Stale Court,
cation tlio suit was removed to this Court, and the
sale in the foreclosure suit by tho Trustee against the
made
who
were
substituted for tho Trustee, now
Company, it was
aud on its appli¬
purchasers at the
Water company
urged that the City by
adopt!
that the works had
that the test that
they afforded was satisfactory, was estopped from asserting against the
Trustee of the bondholders, and purchasing committee, that the contract
had not been complied with.
It is fair to assume that ths>se icho pur¬
chased the bond8 did so in good faith, and that they relied, in part at
ing the Resolution of December 0, 1*83, declaring
been constructed in compliance with the contract, and
least, on this
Resolution.
The italics used
Judge Gi esham’s.
above are our own, but
the words are
We should add to tie
foiegoing
.
vyhat
we
said two weeks ago, as
portion in italics, that the Water Company in
seeking to sell its bonds exhibited to the purchasers
certified copies of the said resolutions of the Common
Council and also letters laudatory of the Company and of
i s works written by the Mayor, the City Engineer, the
Chairman of the Water Committee, of the City Council,
City Attorney and a number of private citizens.
Furthermore, the bondholders have offered and have
been willing to take possession of the property and fulfill
in all respects the contract to supply the city with
the
difficult in the
light of previous decisions to understand the con¬
clusion of the Court.
The order directed to bs entered
was—“ a reference will be made to the Master to ascertain
“and report the fair value of the water furnished to the
city by the Water Company; and when the city shall pay
With
such
facts
it
is
very
“
“into court for the
Bondholders’ Committee the amount
ascertained, a decree will be entered annulling the
establishing the city’s title to the old mains.”
“
thus
“
contract and
although the city accepted the work, offici¬
ally declaring it completed according to contract; although
tfce Water Company by virtue of this ordinance of the
•Common Council obtained the money, giving a mortgage
on the property for it; and although that money was used
in developing the water supply of the city—still the city
can step in and take possession of the property, franchise,
and all the rights and powers attaching to the company on
payment of the rent for the hydrants for a few months !
That is to say,
In
addition
to
the
Illinois
by this moderate amount of misrepresenta
tion secure a large commercial advantage, amounting in
effect to a rebate of from 40 to neatly 80 per cent on the trans¬
actions in question.
This means of advantage, however,
is only open to the shippers of high-class goods.
On the
lowest classes of freight, which furnish the bulk of rail
road traffic, the same result is obtained by false declara¬
tions of weight.
If 30,000 pounds of wheat are shipped
in a car which is billed as carrying 24,000, it amounts to
a reduction of 20 per cent from the schedule rates.
Each
bushel of wheat has to bear only four-fifths cf the nomi
nal charge.
Commissioner Walker, in .his opinion on the subject,
cites some extraordinary instances of the extent to which
the practice is carried.
A Northwestern car loaded with
middlings, whose contents were transshipped to the Nickel
Plate Road and re-weighed in the transfer, was found to
contain 45,500 pounds, instead of 21,000 as billed—a
difference of 111 per cent.
Had this load gone through
without transfer or re-weight, the shippers would have
saved §84 on the transaction.
Sixty-one cars from the
Michigan Central Railroad were weighed at Black Rock in
the early part of February; 57 cars were billed short, in
all 273,350 pounds; 4 were overbilled, in all 4,100 pounds;
in 20 of the cars the overbilling exceeded 5,000 pounds,
the utmost possible limit of bona fide error.
Similar
results were seen at Suspension Bridge and other points
where junction scales were introduced.
Like every other system of rebates, this works in favor
of the large shippers and the large cities.
Loose descrip,
tions of goods are accepted at competitive points, while in
other cases the railroad agents are much stricter.
Owners
of private elevators are allowed to furnish their own
weights, and are often charged merely nominal ones
while the smaller shippers who have to use the public
elevators are forced to pay on full actual weight.
These
abuses became so serious that some of the railroads, in self
defense, were forced to organize a system which involves
the weighing of grain received from private elevators,
further explanatory of gar,” he
the
water.
495
THE CHRONICLE.
21, 1888.J
April
decisions
cited
in
the
can
Turner, McClure & Rolston, we
have in this State an important case bearing upon
the same general subject.
We refer to the General Term
decision in the matter of the Attorney General against
the Receiver of the Broadway Railroad.
That issue came
before the court on an appeal from Judge Peckham’s
order, which held that although the act of the Legislature
annulling the charter of the road was constitutional, the
■effect of the act was only to kill the company, not to de¬
and which has received formal commendation from the
stroy its estate. As the original statute gave authority
to mortgage, the Judge held in substance that the proper, Chicago Board of Trade.
But no measures of this kind are likely to meet the evi
ty —including the right to operate the road, the right to
Of all forms of discrimination underbilling is the
make contracts, the franchise obtained by purchase fully.
one for which it is hardest to hold the railroads
responsi¬
from the city and the consents of the property holders—
If a rebate is given, it is known by the officials of
existed not simply during the life of the company, but ble.
for such time as would be adequate to uphold all con. the company; not merely by the agent at the point of
tracts and mortgages.
Hence as a result, the property, shipment, but in ordinary cases by quite a number of
But where shipments are falsely described, it is
franchise and rights were subject to the lien of the mort¬ ethers.
letter
of
Messrs.
company’s officials know what is
to be sold under foreclosure, the purchaser
being done. The agent who receives the goods may
succeeding to the same.
The conclusion in the Broadway Railroad case is con¬ probably suspect the real facts of the case, but it is hard
servative and wholesome.
It is a strong protest against to prove even this amount of complicity. The only man
gage, liable
at such sale
not at
all
sure
that the
who is&in a position to know the facts with certainty is the
doctrine which puts in jeopardy vested interests at¬
taching while a company is undeniably in existence and shipper; and he is precisely the man whom the law, as it
stands at present, does not hold responsible.
has authority to place a lien upon its estate.
Not merely is the shipper the man who knows of the
UNDERFILLING AND HOW TO PREVENT IT. deception, he is also the one who gets by far the most
The railroads themselves at the time lose
The Inter-State Commerce Commission has recently benefit from it.
any
-
opinion on the subject of underbilling. They quite as much as they gain. In the long run they un¬
If any proof of this
find that the practice prevails to an enormous extent; and doubtedly lose more than they gain.
were needed, it is found in the efforts of the roads to stop
they believe that it should be checked by amending the
They have done much in
law so as to hold the shippers as'well as the railroads re¬ the practice by joint action.
this way; they might have done still more had it not been
sponsible for any deception of this kind. We agree with
them as far as they go, and are disposed to go somewhat for the clauses of the Inter-State Commerce law pro¬
hibiting pools.
Underbilling is not a matter which can
farther than they do.
well be prevented by individual action on the part of the
Underlining takes two distinct forms. The simplest is
false classification or description of goods.
If a man can railroads. Experience shows that it can only be met by
ship hardware as “bolts,” or printed matter as “paper,'’ enforcing mutual responsibility by traffic associations and
Now while traffic associations are
or glassware as “earthenware,” or acetic acid
as “vine¬ other similar devices,
rendered
an
THE
496
CHRONICLE.
prohibited by the clause against pools, their action is
so far hampered that they cannot exercise the authority
and influence which they would otherwise have.
The unfairness of this state of things is obvious.
Here
is a practice for which the shipper is directly responsible,
and the railroad only indirectly; from which the offend,
ing shipper gets much benefit and the railroad little or
none; in which the complicity of the shipper can gener.
ally be proved, while that of the railroad agent can be
only suspected. Yet the law holds the railroads responsi¬
ble and not the shippers, while at the same time it inter*
feres with the railroads in the exercise of the means of
self-protection. One of two results must follow. Either
not
the law will not be
enforced,
or
it will operate most un¬
fairly.
finally secured by the Richmond Terminal, which has held
it
ever
As
a
since.
result of this arrangement, it was
the East
time that the relations between
supposed for a
Tennessee and
the Norfolk & Western would be
greatly disturbed and
building of an entirely new line by*
the latter, parallel to the East Tennessee, to Chattanooga.
Obviously, however, the severance of intercourse between
the roads was not desirable, the injury from such a course
being mutual.
Hence it is not surprising that the old
arrangements between
the companies
have been
continued substantially unchanged up to the present day,
notwithstanding that the ownership of the East Tennessee
has been lodged in different hands.
These facts are interesting now because of the new
rumors
afloat
the relations
affecting
between
these properties.
We have no special knowledge as to
the correctness of the rumors, but as far as the Nor*
folk & Western is concerned, there has been such a mar¬
vellous extension of the local traffic in recent years that the
through traffic is sinking into comparative insignificance,
and it is this fact more particularly to which we wish to
direct attention to-day.
It is only a few years since the
there
was
talk of the
c
The Commission
suggests that the shipper be
held
re¬
railroad company. It would be
and hold the shipper primarily
The responsibility for a practice should rest
as well as the
still fairer to go further
sponsible
responsible.
it,^and which
reaps the advantage from its continuance.
This is the
shipper and not the railroad. If the pooling clause were
repealed, it would be fair to hold the railroads responsi¬
with the
[You XLVI,
party which has the power to stop
At present we punish them for present company was formed, but in that period its pro*
letting some one else deceive them, and deprive them of gress has been wonderful, and the recent growth especial¬
the means of defending themselves against such decep¬ ly striking.
This is in no way so clearly shown as by the
circumstance that while in 1885 gross earnings were only
tion.
The present situation is a curious example of the atti¬ $2,771,120, in 1886 there was an increase of about $500,tude of the public mind toward railroads.
The law to¬ 000 and in 1887 an increase of over $1,000,000, making
day demands that the railroads shall maintain a higher an increase in two years of over 50 per cent, and raising
In the same period the net
standard of commercial practice than those with whom the total to $4,254,794.
from
$1,121,829 to $1,771,014, and the gain in
they deal. This is all very well to a certain extent; but increased
both
cases
follows
almost entirely from an expansion of
when it comes to punishing the railroads for the sins of
the local traffic.
Thus in the two years there was an in¬
the shippers, it is at once unjust and impracticable.
crease in the number of through passengers carried of
only 1,163, but an increase in local passengers of 169,701.
NORFOLK & WESTERN'S LOCAL
TRAFFIC. In freight there was an increase of 871,807 tons in the
The discussion and controversy that have been going on local traffic, as against an increase of only 137,091 tons in
with reference to the relations between the Richmond & the through traffic. The local tonnage has almost doubled
Earnings show the same general re¬
West Point Terminal Company, the Central of Georgia in the two years.
sults.
In
fact, of the gain of $1,483,674 in the total
and the Norfolk & Western, lend special interest to the
report of the latter company, which we publish at length gross earnings since 1885, $1,281,389 was on account of
ble for the
practice.
The Norfolk & Western is not what the local business.
We get a better idea of the progress made if we go
would be called a large system, either as regards the ex¬
back to the time of the reorganization in 1881.
In that
tent of its mileage or the amount of its earnings, but
through excellent management the road has undergone year the local traffic amounted to only 359,262 tons; for
1887 it amounted to 1,829,516 tons, an increase of
great development in recent years, and its geographicaj
position is such as to command for it increasing impor. 1,470,254 tons. In the same time the through freight
increased 200,332 tons, or from 178,840 to 379,172. The
tance.
It is because of this latter circumstance, or, to be more number of passengers carried increased from 12,806 to
exact, because the road constitutes an important link in a 23,354 in the case of the through, but from 203,098 to
through route to the north, that it is the object of so 535,597 in the case of the local. In 1881, out of total
much attention on the part of other roads.
Rnnning from earnings of $2,267,288, through passengers and freight
contributed $813,688.
In 1887, out of total earnings of
Norfolk, Va., westward through the State o^Yirginia, it
connects at the Tennessee boundary with the ilast Tennes¬ $4,254,794, the through traffic supplied only $968,276.
see road, with which it forms a continuous line.
The two The local traffic alone, together with the mail and miscel¬
roads are;, natural allies, and together form a strong and laneous receipts, yielded a larger revenue in the late year
than the entire revenue of the year preceding, including
comprehensive system extending from Norfolk, \ a., and
Brunswick, Ga., to the Mississippi River at Memphis in the through traffic. And we are told that the results would
the one direction, and to the Gulf of Mexico in the other. have been still better had the road’s equipment been
though the company added 47 locomotives
While it would doubtless be an exaggeration to say that larger,
nearly
50 per cent), 1,434 freight cars, 45 caboose
the two are inseparably linked together, they are at pres¬
ent, as far as through business is concerned, in a measure cars, and 13 passenger cars to its rolling stock during the
interdependent, and their interests are to that extent iden¬ year.
This noteworthy growth is entirely due to an intelli¬
It was the recognition of that fact that prompted
tical.
Rates were reduced,
the Norfolk & Western to make a bid, a year or so ago, gent fostering of local industries.
the
efficiency of the road was increased and its service
on a majority interest of the first preferred shares of the
East Tennessee, when it became known that that interest improved, and various new branch lines (particularly
was for sale.
But as will be remembered the stock was the New River and Cripple Creek extensions) and spurs
on
another page.
April
latter, important coal and
iron fields were opened up.
In coal particularly, the
company has developed an enormous traffic.
In 1883,
the first shipments from the Pocahontas mines were made,
built.
497
CHRONICLE.
THE
21, 1888 I
By means of these
in
on
January the gain had been $2,532,507, or 54 per cent
51 roads.
Hence the conditions as to the comparison
entirely different. One of the main reasons for the
satisfactory results in February last year was the fact
that many roads then suffered from snow blockades and
and in that year the coal transported reached 105,805
In 1887, the amount had been increased to 1,308,- generally bad weather. In 1888 there were no such in*
tons.
594 tons.
There has also been considerable development terruptions in that month (January and March being bad
in that respect this year), and hence this has operated in
of the traffic in other minerals—iron for example.
favor of the present result.
While the opening of new territory supplied the
But the influence of most moment in overcoming the
sources of this increased traffic, the development was ren *
unfavorable conditions and heavy losses the present year,
dered possible only by the low transportation charges
was the prosperity attending the operations of the Pacific
which the company put into effect.
Hence, while in 1881
roads.
This group has increased its gross earnings
the average received per ton per mile was 1*450 cents, in
1887 it was only 0*635 cent.
How low this is may be $2,615,973, or nearly 50 per cent, and its net $1,122,414,
judged from the fact that on the New York Central the
average in the last year was 0*780 cent, and on the Penn¬
sylvania 0*730. The cost of doing the work of course
had to be correspondingly diminished, and the expense
mile has been steadily reduced, till in the late
the figure was only 0*373 cent. We need make no
per ton per
year
further comment
on
this latter than to say
that in 1887
the Central was 0-560, and on the Penn¬
sylvania Eastern system 0*497. Much of the Norfolk &
Western’s traffic is of a kind easily and cheaply handled,
but that makes the results none the less noteworthy.
the average on
were
less
Every road has participated in
the increase, both gross and net.
The Southern Pacific
records the largest amount of gain, being $1,223,141 in
gross and $559,055 in net.
The Northern Pacific stands
second with an increase of $410,357 in gross and $161,318
in net.
The ratio of - augmentation in the latter case is
strikingly heavy, for the Northern Pacific in February
last year reported net of only $26,602, while this year the
amount is $187,920.
The improvement on the Oregon
Navigation is hardly less noteworthy, its net having been
increased from $39,731 to $141,862.
Oa the Union Pa¬
or
about 100 per
cent.
cific the increase is
from
$445,244 to $577,974.
In ex.
planation of these favorable statements by the Pacific
roads, it should be borne in mind that these roads are
total of net earnings for the month of February this year now getting full rates on trans-continental business, while
foots up larger than for the same month last year.
Yet last year in the same month tariffs were down to about
such is the fact on the seventy-four roads embraced in our the lowest figures probably ever reached.
As a conse¬
INCREASED NET EARNINGS FOR FEBR UARV.
It will doubtless surprise our readers to hear that the
exhibit below.
It has been known that the gross was
larger, but in view of the many unfavorable conditions
prevailing it was not supposed that any gain in net would
be shown, especially as there had been a heavy loss the
previous month and expenses have continued to increase.
Nevertheless, there is a small gain—$288,985, or about 3£
per cent—as will appear from the fo lowing statement. In
illustration of’the great augmentation in expenses, it is
only necessary to say that this increase of $288,985 in the
net follows a gain of no less than $2,611,793 in the gross.
of February.
(74 roads.)
Month
1888.
exp...
*
80,809,384
21,982,703
Net earn’s
8,870,(561
Gross earn’s
1887.
Inc.or Dec.
!
|
j
j
Jan. 1 to March 1.
(71 roads.)
1888.
1887.
Inc.
or
Dec.
*
.
28,197,571 +2,611.793: 59,990,249
19,609,895 i +2,322,808 i 44,207,379
$
*
56,828,139
39,654,925
+3,162,110
+4,552,454
+288,985' 15,782,870
17,173,214
-1,390,344
*
*
quence, gross earnings have increased so
roads have been able to swell the net
heavily that the
largely notwith¬
standing a considerable augumentation in expenses. At
the same time there has been a large influx of settlers and
considerable ^development of territory along the lines of
some of the systems, as for instance in Southern Califor¬
nia and in Oregon and Washington Territory.1 Another
thing that has helped these lines is that they were not
troubled by snow blockades this year, as some of them
last year.
On account of a
were
Southern group of
here the increase
steady industrial development, the
roads has also done quite well, though
in amount ($148,423), being,
cent. The exhibit in this case is
is light
however, nearly 10 per
unusually complete, comprising 23 roads, of which all but
six show larger net than in February last year.
Only 2
Aside from this
What makes the improvement particularly striking is of the 23 roads have lost in the gross.
that on special roads the losses have been very heavy. group and the Pacific roads, there is only one other group
Thus the Reading net for the month fell off $507,750, the that exhibits enlarged net, namely the Eastern com¬
Burlington & Quincy net $374,143, and the net of panies, comprising the Baltimore & Potomac, the West
the Atchison $199,000, making a loss by these three roads Jersey, the Camden & Atlantic, the Rome Watertown &
Oper.
8,587.676
considerably over a million dollars.
Moreover,
as is known, the coal strike continued in progress during
a good part of the month both in the Schuylkill and the
Lehigh regions, and the engineers’ strike on the Burling¬
ton & Quincy was also begun in this month, though not
till the latter part of it. At the same time the war of
rates on the roads running out of Chicago grew more and
more bitter, and tariff schedules were cut down to very
low figures.
What, then, accounts for the favorable statement now
disclosed, in the face of all these adverse circumstances ?
In the first place, there was an extra day in the month
of
that, however, is a fact of small moment in
earnings. In the second place, we are
not comparing, as in January, with specially good results
the previous year, the gain in February, 1887, on 57 roads
having been only $143,329, or less than 2 per cent, while
this year;
the matter of net
Ogdensburg, the Ontario & Western and the Staten Island,
mentioned has suffered an insignificant
falling off in net. The Middle Western roads also would
show an increase except for the loss on the Wabash and
the Cincinnati Indianapolis St. Louis & Chicago.
The falling off m net on the Mexican roads—Mexican
Central and Mexican National—is very small, and due
simply to the loss by the latter, the Mexican Central hav¬
ing done exceptionally well, as heretofore. Among the
trunk lines, the Erie and the Chicago & Grand Trunk are
the only ones favored with larger net.
The Pennsylvania
had a very large increase in the gross, but it wa3 all ab¬
sorbed by augmented expenses. The Northwestern roads
have lost heavily, as might be expected in view of the war
of rates and other unfavorable and disturbing causes; yet
the decrease is found almost entirely on the Burlington &
Quincy. It is true that that is the one large company
of which the last
CHRONICLE.
THE
498
embraced in the exhibit for that
The
section, but among the
(Tol. XLNh
rights of holders of water bonds have been the subject
important decisions in Illinois, both of which were
of two
minor lines
only the Central Iowa and the Keokuk &
decided before the Galesburg case.
The first of these causes
ranged on the same side, while the Burling¬ was that of the
City of Quincy v. Bull (106 Ills., 337), in
ton Cedar Rapids & Northern, the Minneapolis & St. Louis
which the validity of a contract for supplying Avater to that
and the Chicago Burlington & Northern have all managed city was affirmed by the
Supreme Court of the State of Illi¬
to increase their net over last year.
But mo3t of these nois, and tho claim of the city that it had the right to declare
Northwestern companies were adversely affected by the a forfeiture was denied by the Court, notwithstanding the fact
Western
are
weather
in
1887.
West of the Missouri the
Atchison
and the Denver & Rio Grande Western have lost in net,
the latter wholly by reason of increased expenses.
The
coal road3
fall behind in
decrease
the
simply because of the
Reading, supplemented by a loss on the
Northern Central.
All the other roads, and especially the
Central of New Jersey, show heavy gains. The following
is a full summary by groups; the figures in parenthesis
on
net
indicate the number of roads in the groups.
Net Earnings.
Gross Earnings.
February.
1888.
Trunk lines
..(?)
Middle AVestern.
Northwestern
(7»
877,S11
..(0)
2,314,033
1,157,049
..
...
$
8,780,313
1887.
*
8,402,723
820,408
2,451,474
1,307,180
5,541,002
1888.
8
2,419,579
237,839
025,073
304,588
2,247,940
1,601,770
1887.
* '
2,573,068
274,177
978,135
Inc.
or
Dec.
$
—153,489
—36*338
—352,402
-202,722
+1,122,414
+118,423
-277,017
+47,010
4,472,720
511,548
523,273
1,010,089
..(6)
..(2)
3,542,774
000,083
070,885
201,410
507,310
1,125,520
1,543,347
1,287,700
90,121
208,286
Total, 74 roads....
30,609,304
28,197,571
8,870,061
8,587,676
+288,985
10,534,943
1,740,127
5,004,559
2,e91,331
11,058,925
8,146,301
8,S35,058
1,070,710
1,080,179
4,411,326
453,921
1,035,677
4,813,332
581,909
2,014,587
1,105,041
2,539,339
3,017,713
2,470,184
—402,000
W’st of Miss’uri. ..(2)
Pacific Syst’ms... C12)
•
Southern r’ds
(23)
Coal companies.. ..(0)
Eastern co's
Mexican roads
..
8,157,575
4,702,211
4,131,583
137,737
—C.S40
•
Jan. 1 to March 1.
Trunk lines
(7)
17,251,415
..(7)
1,784,843
4,516,479
2,319,891
15,403,511
9.27G,205
•
Middle Wesl’n...
Northwestern....
W’st of Miss’uri.
•
•
-l2)
Pacific Syst'ms... (12)
Southern r’ds.... ..(20)
•
038,217
3.067,839
3,325,065
1,557,875
—127,988
-978,910
—400,824
+ 1,128,500
+307,353
—918,309
that the
of
grant by the city contained an express reservation
power to forfeit.
The other case to which
a
allude
decided
by Judge
Blodgett, in the United States Circuit Court for the Northern
District of Illinois, and is reported in 27th Federal Reporter,
page 889.
In that case the city of Joliet, Ills., made a con¬
tract giving to one Starr the exclusive right for thirty years,
to maintain Avater works and supply the city with water on
certain terms, he agreeing to construct and maintain an ef¬
fective supply of water works and to supply water to the sat¬
isfaction of the city.
This contract Starr assigned to tlie^
Joliet Water Works Company, which constructed works, laid
down mains, put in pumps and engines, and endeavored to
furnish water as agreed. Afterwards the company made a
mortgage of all its property, franchises and rights under the
ordinance to the Guarantee Trust Company, of Philadelphia,
to secure bonds.
Default being made, a foreclosure followed,
and Foster became the purchaser on behalf of the bondhold¬
ers.
They entered into possession of the works, and endeav¬
ored, without success, to perform the obligations of the con¬
tract.
Before all this the city had attempted to repudiate the
contract and to revoke the ordinance, and to prevent the
Avater company from furnishing water or using the streets.
The suit Avas brought to restrain tlie city from such action.
The ordinance A\~as quite similar to the Galesburg ordinance,
the principal difference being that there was an actual pOAver
of re\rocation reserved in
we
case
Avas
of the failure of the Avater sup¬
ply to the city, Avhereas in the Galesburg ordinance no such
In the Joliet case no representations;
240,875
187,419
+59,456 power was reserved.
Mexican roads.. ..(2)
+ 8,884
437,691
440,075
on
the
part of
its
Avere
tho
city or
officials
Total, 71 roads
claimed to have been made, the bondholders having
59,990,249 50,828,139 15,782.870 17,173,214 -1,390,344
invested their money in the water Avorks simply upon the
Note.—Included under the head of—
Trunk Lines—Cleveland Col. Cln. Sc Ind. (whole system-). Grand Trunk of
facts as they understood them to be; and moreover the test of
Canada, Chic. & Grand Trunk, Det. Gr. Haven St Mil., N. Y. Lake Erie &
Western, Ohio Sc Miss, and Pennsylvania (east of Pitts. & E ie).
the Avorks Avhich was made did not comply Avitli the provi¬
Middle Western—Cairo Vin. & Chic., Cln. Ind. St. L. & Chic., Cleveland &
sions of the ordinance, and the city neA'er accepted the AA^orks.
Canton, Det. Bay City & Alpena, Ohio River, Toledo & Ohio Central andJWaoash.
Northwestern—Burl. Cedar Rapids & Northern, Central Iowa, Chicago Burl. St
Indeed the proof shoAved that the Avater company never fur¬
Quincy, Chic. Burl. & Nor., Keokuk & Western and Minneapolis & St. Louis.
nished
the water as the contract required.
TCcst of Missouri—Atch. Top. & Santa Fe and Denver & Rio Grande Western.
Pacific Iioads—California Southern, Canadian Pacific, Northern Pacific, the
Judge Blodgett, in his opinion, took it for granted that the
six Southern Pacific roads, Oregon Imp. Co., Oregon Ky. Sc Nav. Co. and Union
Pac.
water company had not complied with the conditions of the
Southern Roads—Atlanta & West Point, Cape Fear & Yadkin Valley, Car¬
olina Centra], « entral of Georgia, Cin. Selma & Mob., Ches. Ohio & South¬
ordinance, but nevertheless lie held that the bondholders
western, East Term. Va. & Ga., Fort Worth Sc Denver City, Kentucky Central,
stood in such a position that they had the right to go on and
Louisville & Nashville, Louisville New Orleans & Texas, Memphis & Charles¬
ton, Nashville Chattanooga & St. Louis, N< rfolk & Western, the six Rich.
Sc
West Point Ter. roads. Seaboard Sc Roanoke, Shenandoah Valley, and
complete the works, and that no forfeiture should be allowed or
Western of Alabama, and for the two months the same roads excepting Atlan¬
enforced until they had had a reasonable time to do so ; that
ta Sc West Point, Cin Selma & Mob. and Western of Ala.
Coal Companies—Allegheny Valley, Central of New Jersey, Northern Central,
the delays in completing the works, while a breach of the
Phila. & Reading, P. & K. Coal Sc Iron Co., Pittsburg Sc Western, Summit
Branch, Lykens Valley and Western N. Y. & Penn.
letter of the contract, Avere not such as should Avork a com¬
Eastern Companies—Baltimore & Potomac. Camden & Atlantic, N. Y. Ont. &
plete forfeiture of all rights acquired and moneys spent under
Western, Rome Wat. Sc Ogdensburg, Staten Island and West Jersey.
Mexican Roads— The Mexican Central and Mexican National.
it.
The court accordingly entered a decree declaring that the
bondholders Avere lawfully in possession of the streets of the
Altogether, there are only 25 roads out of the 74 that
have lost in net and but 13 that have lost in the gross. cit}', and enjoining the city from interfering with the mains
and pipes, but ordering the bondholders, Avithin t\A'elve
In the exhibit for the two months, the falling off in net is
months, to do the necessary work for supplying water and
$1,390,344 on 71 roads, or about 8 per cent, which is carrying out the contract.
This action of Judge Blodgett Avas affirmed by the Supreme
small, considering that in the same two months last year the
gain on 58 roads was $2,S89,S64, or 23 per cent, and con¬ Court of the United States, but by a divided vote.
Turner, McClure & Rolston*
sidering also the rate wars, labor troubles, &c., that have
20 Nassau Street, New York,
existed the present year. Only sixteen of the 71 roads
Coal compan’s.... ...(9)
Eastern co’s
..(0)
have
suffered
a
6,800,736
1,210,019
1,301,000
decrease in the gross
for this period,
Burdett's Official Intelligence.—We
though 27 fall behind in the net.
are
indebted to
Henry C. Burdette, Secretary of the Share and Loan De¬
partment of the London Stock Exchange, for a copy of his
Official Intelligence for 1888,’’ a handsome volume of 1,242
Mr.
BONDHOLDERS AND ILLINOIS WATER BOND
DECISIONS.
Editor of the Commercial & Financial Chronicle:
Sir—As
“
The author gives, in a very concise but clear form,,
concerning all the securities knoAvn to the Lon¬
don market and dealt in on the principal foreign Exchanges►
When we say that on the official list of the London Exchange
alone there were quoted Dec. 31, 1887, according to Mr. Bur¬
dett's figures, securities whose par value was £5,795,239,045,,
the great scope of the work will be appreciated.
To Ameri¬
can railways he devotes fifty-nine pages.
He furnishes also
interesting statistics relating to Indian finance and English
municipal indebtedness. The book can be obtained of Spotpages.
information
represent the bondholders in the case of the
Galesburg Water Company, in which Judge Gresham recently
rendered a decision, which was the subject of some editorial
remarks in one of your late issues, we address you this letter
as the most convenient method of answering numerous in¬
quiries on the subject. Information seems specially desired
as to whether the points at issue have not already arisen in
other cases, and what other decisions there may be on the
tiswoode & Co., 54 Gracechurch Street, London, E. C.
subject.
we
April
21,
THE
18*8.]
CHRONICLE
;pX0ttetartjf gomtmerctal gnflltslt Incurs
[From our own
correspondent.J
.
London, April 7,
1888.
499
security, which has remained very steady at about 100% to
100% per cent.
The new Uruguay loan of £4,255,300 has been the sensation
of the week.
It was known on Wednesday afternoon that it
would be issued by the Messrs. Barings, but before even the
of
Experts in the money market have been surprised and the terms were made public dealings took place at 5 premium
general public have been puzzled by the action of the
over the issue price, which was fixed at 82% per cent.
The
England directors, who on Tuesday last raised the selling list was opened on the Thursday, and it was advertised that it
price of gold. Such a step is very unusual, and the last time would be closed on or before the 9th inst. at 4 o’clock in the
it was resorted to was in 1878, when the German Government
afternoon; but so great was the rush to secure allotments that
absorbed gold so largely in connection with its demonetization before three o’clock on the day of issue (Thursday) the loan
of silver, selling the white metal and accumulating gold in ex¬ was
applied for in London more than three times over, irre¬
change. The reason for the action now is that the
spective of applications from Paris, Amsterdam and Antwerp.
exchanges have been moving against this country, and it has The total
applications reached £25,000.000. Speculation on the
been found profitable to take gold not only from.the open
Stock Exchange just now is rather increasing, and prices in
market here but also from the Bank of England. The ad¬
most markets have again advanced, the firmness extending
vance of %d. per ounce—the price being raised from £3 17s.
even to the American department, which for a long time past
10%s. to £3 17d. 11s.—was followed by a further withdrawal has been quite neglected by the general public. American
the next day of £170,000, part of it in sovereigns. There is
railway securities are now being inquired for, on the grounds
still a demand for the Continent, though the drain from the that
prices have shrunk so considerably and that no worse
Bank of England ceased for a day or two. But it is to be
news than that already received can be expected.
Strikes, it
noticed that there has been a fall in discount rates on the is
argued, cannot go on indefinitely; rates, it is hoped,will ere
Continent, especially in Berlin, from whence the principal
long be restored; and better weather in the natural course
demand came. The Bank of England return does not yet events is to be looked for. The flurry in New York in conse.
show the effect of the release of the dividends, but the outflow
quence of the extension of labor troubles in the Northwest had
of cash, both for abroad and for the provinces, has reduced the
very little effect in London; indeed, speculators took advantage
supply of bullion to below £22,000,000. The Government ab of the slight dip in values to come into the market, and have
sorption of cash in payment of taxes has made the open been steadily picking up stock.
Trust corporations have also
market very poor, and operators have gone to Threadneedle been
buying.
Street for their requirements on a very large scale of late. So
The publication of the statistics of copper and tin this week
certain, however, do operators feel that money will be cheap have been without influence on prices of these two metals,
in the immediate future that they have paid as much as 2%
copper remaining a strong market at a little over £80 per ton,
and 3 per cent in the open market for day-to-day advances? and tin
being quoted for immediate delivery at £166 per ton.
rather than borrow for a week or ten days at 1% to 2 per Paris advices
represent that the Societe des Metaux has about
Discount rates are slightly higher, partly in conse*
cent.
perfected its plans for acquiring control of_the copper produc¬
quence of Treasury bills having been placed at higher terms tion throughout the world. The three Spanish companies
than had been looked for.
Tenders for '£2,600,000 Treasury are now understood to have arranged for the sale of their
bills were allotted on Wednesday at an average price equal to
produce for a period of three years. A meeting of the Cape
a rate of £1 3s. 3%d. per cent, the whole amount in three
Copper Company has been called to sanction a provisional
months' bills.
agreement for the sale of produce for a term of years, and
The following return shows the position of the Bank
another Cape enterprise has definitely concluded a similar
of England, the Bank rate of discount, the price of consols
contract. The latest arrangement perfected is that which M.
&c., compared with the last three years :
Secretan has made with the English smelters, to avert compe¬
1885.
tition. Since the 1st of January stocks of copper have risen from
1886.
1887.
1888.
£
£
42,300 to 58,700 tons, but the high range of prices has stimu¬
£
£
Circulation, excluding 7-day and
24,702.870 24,903,410 24,833,775 lated imports. The arrivals of the last three months have been
24,601,715
other bills
8,458,121
7,620,264
8.202,209
13,347,103
Public deposits
approximately 30,500 tons, in contrast with 17,000 tons, while
25,058,014 23,551,214 25,753,429
23.795,372
deposits
Other
on the other hand the deliveries, that is consumption, have
14,434,061 14.583,408 14,164,559
18,210,712
Government securities
23,952,SOS 21,455,331 21,683,030 21.722,953 fallen off in the three months to 15,000 tons, in contrast with
Other securities
13,447,155 15,224,609 12,768,500 16,160,845
Reserve of notes and coin
24,500 tons in the first quarter of 1887.
21,848,900 24,237,479 21,921,910 25,294,020
Coin and bullion
47 p. c.
The iron trade statistics for the first quarter of the year
4094 P-c.
45}^ P. C.
1-16
30
p.c.
Reserve to liabilities
2 p. C.
3 D. c.
p. c.
2 p. c.
Bank rate
compare favorably with the corresponding period of last year,
97 3-10
102 3-16
ioo*;
101 11-16
Consols
;
so far as the main district (Cleveland) is concerned, but are
109,651.000 128,392.000 113.882.000 79,455,000
Clearing-House return
not satisfactory in the Scotch and West Coast districts.
A
Messrs. Pixley & Abell write as follows on the state of the
notable feature is that there is a steady home consumption,
bullion market:
and the total shipments of Cleveland iron show a very largeGold—The demand for cold has materially increased, and, in spite of
The home consump¬
increase over the first quarter of 1887.
tlie Hank advancing the price of bars to 77s. 1 Id., further withdrawals
took place. The amount sold during the week is £107,000, of which
tion
of
Cleveland
for
the
quarter
has
iron
been 457,000 tons,
£170,000 was for Holland.
£10,000 has been received. Arrivals—
£5,000 from Australia, £*,000 from West Indies and £73,000 from
contrasting with 434,000 tons and 344,000 tons in the first
•Central America ; total, £*0,000.
The total ship¬
Silver—There being no business, in consequence of Faster, silver three months of 1887 and 1886 respectively.
remained unaltered until Tuesday, when with weaker exchanges the
ments of the first quarter of this year have been 207,000 tODS»
price gave way to 427sd.: and when the next day it became known that
the India Council were not going to reduce the amount of the weekly
an increase of 35,000 tons over the
same period of last year
drawings, and had made sales as low as Is. 1:V«1., a further fall occurred
and
of
47,000
tons
over
the
first
quarter
of 1886.
to 1234d.. at which the silver, ex Chilian steamer, was fixed.
To-day the
price is 42%!, in consequence of further relapse in exchange. Arrivals
Mark Lane markets remain very quiet, and speculators
—£38,000 from New York, £08.000 from Chili and £14,000 from West
have been doing scarcely anything of late.
Prices remain
Indies; total, £120,000. The 1\ & O. steamers last week took £05,477
to India.
weak,
nor
is
any
improvement
looked
for
with
the present
Mexican dollars have practically been unsalable, and the nearest
quotation to-day is about 41 ^d., nominal. The Central American statistical position.
The quantity afloat for this country is in
steamer brought about £75,000.
excess of what it was both a year ago and two years ago, at
The monthly settlement in Home Government Funds has
same date, and the stocks in the principal ports are about the
been adjusted, and in future 3 per cent consols will no longer
be the leading English securities in the market.
The main same as those held a year ago. The stocks in the nine princi¬
pal ports are as under:
English stock will now be the new two and three-quarters per
1*/ April, 1887.
1ft April, 1888.
cent stock, commonly known as “Goschens,” but officially Wheat
1,211,000 quarters.
1,203,000 quarters.
797,000 sacks.
888,000 sacks.
Last week a little over £166,000,000 of 3 Flour
called New Consols.
Imports of wheat and flour, the latter calculated as wheat,
per cent debt was converted and this week it is announced
for thirty weeks past have been 10,120,000 quarters, in con¬
that holdings of not far short of a like amount of consols and
trast with 10,630,000 quarters in the same period of 1886-7 and
reduced 3 per cents have sent in their assent to conversion.
9,289.000 quarters in 1885-6. The home sales of wheat have
These assents have been some days in advance of the latest
been 5,746,000 quarters, comparing with 4,444,000 and 5,871,date when assents can be sent in by the general public, and it
000 in the two previous corresponding periods.
The total
is expected that very large blocks held by bankers and insur¬
quantity of wheat and flour on passage to the United King¬
ance offices will be converted before Thursday next the 12th
dom is returned as 2,150,000 quarters, in contrast with 2,036,
inst.
Dealings are now taking place freely in the new form
Bank of
Continental
THE
500
CHRONICLE.
Average Amount of—
000 quarters a year ago and 1,985,000 quarters two years ago.
The quantity on passage to Europe is returned as 2,452,000
3.8675—The
quarters, or about 20,000 quarters less than at the beginning
of April last year.
BhcUsIi
Financial fllarltel*— Per Cable.
closing quotations for securities, &c., at London,
reported by cable as follows for the week ending April 20.
The daily
are
Sat.
London.
Mon.
Tries.
42%
4278
Thurs.
Wed.
Fri.
42i316 421116 4230
Consols, new 2%percts. 99i6i« 991816 999i6 99Hi6 9911j6 99H16
100
for account
do
9915i6 99ifl6 99iiie 99H,b 99%
8120
Fr'ch rentes (in Paris) fr. 81*4212 81*17% 8110
81*37% 81*3713
108 7s
109
108 7e
109ia
U. 8. 4%a of 1891
109ia
109ia
Sliver, per
428s
d.
oz
U. S. 4s of 1907
1261a
60%
Canadian Pacific
Chic. MIL & St. Paul.... 72
25
Erie common stock
Illinois Central
122ia
Pennsylvania
Philadelphia & Reading.
New York Central
126ia
60is
73ie
126ia
60ia
725a
127
25 ia
60
72 78
25
122ia
122%
12730
60%
7330
2538
122%
56
56
6038
7330
25
25
122ia
12214
56
56
55 7a
29%
107%
293*
1073s
293q
12714
56
30
108
10750
3030
297s
107 7s
108
[Vol. XLVI
Batiks.
Loans and
Discounts.
City
2.815.800
19,313,000
3.341.700
5.192.500
1,852,900
....
Butchers’ & Drov.
Mechanics’ <& Tra.
Greenwich
Leather Mannl’rs.
Seventh Nat
State of N. Y
following national banks have been
organized since last advices
:
Sumner National Bank of Wellington, Kan.
Capital*
$75,000. John G. Woods, President; A. Branajnan, Cashier
First National Bank of Bound Brook, N. J.
Capital,
$50,000. George La Monte, President; R. H. Brokaw.
Cashier.
Ellensburgh National Bank, Washington Territory.
tal, $50,000.
Cashier.
man,
Imports
Capi¬
VanB. De Lashniutt, President; Ralph Kauf¬
and
Exports
for the
Week.—The imports of last
week, compared with those of the preceding week, show an in¬
crease in dry goods and a decrease in general merchandise.
The total imports were $11,229,313, against $11,170,016 the pre¬
ceding week and $9,450,581 two weeks previous. The exports
for the week ended April 17 amounted to $5,696,621, against
$6,450,174 last week and $5,652,479 two weeks previous. The
following are the imports at New York for the week end¬
ing (for dry goods) April 12 and for the week ending (for
general merchandise) April 13; also, total since the beginning
of the first week in January :
FOREIGN IMPORTS AT
For Week.
|
Dry Goods
Gen’l mer’dise..
Total
Since Jan. 1.
Dry Goods
Gen’l mer’dise..
1885.
NEW YORK.
1886.
|
|
1887.
1888.
$1,426,408
6,075,692
$1,583,034
5,C26,905
$2,436,8951
9,944,663
$2,847,661
8,382,252
$7,502,100
$ 7,209.939
$12,381,553
$11,229,313
$32,771,406
80,259,938
$38,224,939
91,011,944
$42,190,155
$45,065,880
95,783,508; 101,778,991
Total 15 weeks. $113,031,344 $129,236,883 $137,973,663 $146,841,871
In our report of the dry goods trac e will be foiand the imports of dry goods for one week later.
The following is a statement of th e exports (ejxclusive of
specie) from the port of New York t<) foreign pc>rts for the
week ending April 17, 1888, and from January 1 tc) date:
EXPORTS FROM NEW Y ORK.
1885.
For the week...
Prev. reported..
Total 15 weeks
1886.
1887.
'
1888.
$6,109,604
90,265,167
$5,616,765
$5,321,104
82,744,93.
$5,696,621
76,760,759
$96,374,771
$82,377,524
$88,066,034
$85,790,687
80,094,066
The following table shows the exports and imports of specie
at the port
of New York for the week ending April 14, and
and for the corresponding periods in
since January 1, 1888,
1887 and 1886.
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Exports.
Gold.
Week.
Great Britain
France
Since Jan.l.
$
All other countries...
Total 1888
Total 1887
Total 1886
Silver.
France
38,000
90,219
99,933
8,585
109,166
118,090
$268,300
$4,368,578
38,530
4,762,928
282,214
17,977,707
$200,412
58,110
16,942
$3,509,816
3,982,092
2,473,204
230,100
200
$294,050
16,000
Germany
Total 1888
Total 1887
Total 1886...
12
Exports.
$1,768
2,423,223
782,399
68,659
6,511
Imports.
Since Jan. 1.
$3,137,4 20
149,100
1,900
101,138
West Indies
Mexico
South America
All other countries...
Since Jan. 1.
$
74,305
115,810
1,700
Week.
Great Britain
Week.
$367,461
7,100
1,248
3,802,617
Germany
West Indies
Mexico
South America
Imports.
Week.
$
Since Jan.l
$12
773
110,589
9,085
131,467
5,825
8,394
2U567
527
231,199
451
308,861
$310,577
$3,645,324
2,797,758
4,005,771
$1,931
46,30(
$574,233
352,479
158,(536
35,722
662,165
478,631
week
ending April 14, 1888:
19.475,800
362.300
642.700
870,000
511,000
787.200
1,073,000
3.955.400
16,050.000
17,796.900
Broadway
Mercantile
Pacific
Chatham
Peoples’
Citizens’
Nassau
Market & Fulton.
St. Nicholas
Shoe & Leather...
Corn Exchange...
Continental
Oriental
Importers’ & Trad.
•econd National..
Ninth National....
First National
Third National....
N. Y. Nat. Exch...
252.200
210.900
266.100
H
1,344,000
2,092.100
2,178,000
1,104,100
13.522.000
11.917.500
919.400
4.995.900
7,648.800
45,000
897,000
7.616.600
3.244.800
403.400
133.800
271,000
858.200
310.400
258.700
376,000
239.500
313.500
2,090.700
682.600
211.200
759.800
690.700
584.800
342.900
895.600
87.700
493,500
262,100
*20,bod
480.600
40,900
074,900
2.751.500
8.779.700
4.623.200
2.586.200
3.604.400
12.967.700
3,301,000
2.929.600
3.150.100
3.886.200
42,200
45,000
46*600
40.700
3,085,000
2.526.100
2.690.400
4.147.700
1.925.300
3,038,000
6.241,480
4.276.700
693.000
686.400
530.800
60.700
277.000
323,000
809.900
216.400
420.100
4.915.600
2.150.500
45,000
2.080.100
1,814,700
02,318,200
985,300
192.400
2.267.500
1.533.400
16.653.500
3,042,000
204,000
134.200
1,763.400
1,038,000
3.887.300
870.300
1,271,500
373.500
19.296.700
4.725.600
485.500
144.900
166.000
751.700
578.300
108.800
118.100
1.840.700
574.200
900.500
119.600
116.500
1.232.300
532.300
480,000
2.608.400
109,000
397,100
380,000
21.100
186.900
218,000
44 6,500
.
81,000
180,000
45,000
43,90045,000
443,700
44,000
1.314.300
199.600
2.554.100
2,857.100
225,000
180,000
2.476.200
8.718.500
67*,500
3.890,000
3,042,800
2.795.500
4.324.500
3.078,800
2.787.500
1.810.500
42,400
45,000
118,900
37.600
180,000
45,000
2.380.300
1.489.100
3.673.600
728,100
1.788.100
353.400
2.128.300
483.700
233.800
343.200
260,000
231.<20
1.743.100
518.C00
108.0
4.433.80U
2.126.200
2.900.100
2,095,000
8.789.700
1.271.700
786,0oO
7.514.900
390.400
375,100
21,601,400
1,682,800
602.100
2.566.100
46,000
5.513.300
4.300.000
4.748.300
,000
238.500
3.770.100
2.604.700
2,564,000
4,005,800
1.623.500
3,334,000
315,000
578.100
80 i
1.461.300
2.179.500
2.522.700
8.171.700
Germania
U nited States
Lincoln
Garfield
&....
Fifth National
B’k of the Metrop.
West Side
Seaboard
Sixth National....
Western National.
50.600
261,000
133,000
294,000
90.100
1,620,100
21.010,100
4.381.600
Bowery
253.000
108,000
5.553.500
3,532,000
4.867.400
N. Y. County
German.A meric’n.
Chase N ational....
Fifth Avenue
German Exch’nge.
45,000
348.300
20,559,000 3,952;000
17.499.600 4,403,200
194.300
1.956.400
281.100
1.366.800
16,394.600, 2.578.800
7,293,000 1,334.000
Park
North River
East River
Fourth National..
central National.,
$
45,000
3.793,000
4.155.700
1.812.700
2,276,000
1,206,600
3,089,500
1.302.200
328.900
631.300
382.900
524.100
11.782.600
Irving
644.000
359.000
949.100
2.383.800
3.761.200
4,481,000
2,062,000
2.863.400
Republic
.
Oirculo
tion.
119,000
120,200
889.800
367,286,800 72,946,COO 31,532,100 374,430,700
46.000
7,757
U. S.
Treasury Bond Purchase.—The Secretary of the
Treasury has issued the following circular :
Treasury Department, Office of the Secretary,
£
Washington, Apiil 17, 1888. >
Purchase of bonds by virtue of the authority contained in Section 2 of
the act of March 3,1881 (Chapter 133 of the Statutes at Large), notice is
given that on Monday, April 23, and daily thereafter at noon until
further notice, proposals will be received in the ottiee of the Secretary of
the Treasury for the sale to the Government of the United States bonds
of the acts of July 14, 1870, and Jau. 20, 1871.
Proposals should state the specific character of the bonds offered,
whether coupon or registered, and must be for the sale of the bonds,
with accrued interest to and including the day of sale.
The right is reserved to reject any aud all proposals for the sale of
bonds, if it is thought to be for the interest of the Government to do so.
C. S. Fairchild, Secretary.
—Attention is called to the advertisement of the Western
New York & Pennsylvania Railroad’s first mortgage fifty-
gold bonds, offertd at 97 and interest, by
Phelps & Co. and Kessler & Co., in New
York, and simultaneously by a number of leading housis in
other cities of this country and Europe.
Subscriptions are to
be received on April 25 and 26.
The price of issue, 97, is very
moderate for a fifty-year gold bond, and as the whole issue of
these first mortgage bonds is only $7,700,000, and the neb
earnings of the reorganized road for the six months ending
Dec. 31, 1887, exceeded the interest charges by $121,420, it
may be anticipated that the subscriptions will be large.
Full
particulars ai e given in the advertisement.
—Messrs. Archer N. Martin, of Post, Martin & Co., E. E. Den¬
nison, of E. W. Clark & Co., and J. D. Probst, of J. D. Probst
& Co are out with a card stating ihat they represent a major¬
ity in actual ownership of the first moitgage consolidated
bonds of the Florida Railway & Navigation Co. Tney request
bondholders to communicate with them, as they are opposed
to the plan of reorganization as proposed.
—The American Finance Company report that liberal sub¬
scriptions are being received for the bonds of the San Pedro
Los Angeles & Utah Railway Company, to be is.ued on that
part of its line extending from San Pedro Bay, via Loo An¬
geles, to Pasadena.
—Messrs. Clark, Dodge & Co. offer for sale a limited amount
of the first mortgage 6 per cent gold bonds of the Montana
Central Railway Company, principal and inteiest guaranteed
by the St. Paul Minneapolis & Manitoba Rdlway Compiny.
—The Homestake Mining Company has declared its 117th
dividend of $25,000 for March, payable at the office of Messrs.
L unsbery & Co Mills Building.
—Messrs. S. A. Kean & Co. report the purchsse this week of
twe-hundred thousand Ohio State fives from the Sinking Fund
year
5
per
cent
Messrp. Maitland,
,
,
New York City Banks.—The following statement shows the
oondition of the Associated Banks of New York City for the
644.800
517.600
3.298.600
1.324.500
Amerio’n Exoh’ge.
Commerce
Tctal
5.236.700
595.400
2,040.000
1.219.500
Hanover.
National Banks.—The
425.900
961,000
184.200
$
104-60,000
9,706.000
7.275.900
7,387,000
11,139,600
2,698.000
14.415.700
2.400.100
6.644.900
9.625.200
Tradesmen’s
Chemical
Merchants’ Exch.
Gallatin National.
North America....
©tfmwiercial and naiscellaueotts Hews
$
310.000
3.601,000
other
than U.S.
10.510,000 •2,040.000
8,684.000 2,714,000
6.779.200 1.492.800
8,428,000 1,202,000
12,630,400 1,895.500
America
Phenix
Met Deposits
Tenders.
f
S
Few York
Manhattan Co
Merchants’
Mechanics'
Legal
Specie.
Commissioners of the State.
April
e
§ ankers' (S&aelte.
DIVIDENDS*
The following dividends
Name
have recently J>een announced:
Per
Cent.
of Company.
Railroads.
Baltimore <fe Ohio (Wash’ll Br.)...
Fitchburg, pref
When
Payable.
Books Closed,
(Days inclusive.)
3
April 25
May
15 April 30 to May 15
May
1
May
1
Pacific (qnarO.
2
May
Miscellaneous.
Pullman Palace Car (quar.)
2
May
Nashua A Lowell
Northern
5
O
4*3
Francs, 5 19f@5 20 and 5 17£@5 18$;
reichmarks, 95f®95$ and 95$@95$; guilders, 40$ @40$ and
40t®40*.
The following were the rates of domestic exchange on
New York at the under-mentioned cities to-day: Savannah,
buying par; selling $@$ premium; Charleston, buying $
premium; selling $ premium; New Orleans, commercial, 75c.
premium; bank, $1 premium; St. Louis, $1 premium;
Chicago, par.
The rates of leading bankers are as follows:
Continental bills
WALE STREET, FRIDAY,
Money
Market
1
15 May
2
to May 15
April 20, 1888-5 P. M.
and Financial
Situation.—The
important event which has been awaited for some time past in
our financial markets is about to be realized, namely, the pur¬
chase of government bonds by the Treasury Department.
The
Secretary has issued his circular offering to purchase bonds
daily, beginning on Monday next, and the general methods
were;
Prime hankers’ sterling
Prime commercial...
Demand.
Sixty Days.
April 20.
Bank.
The
501
THE CHRONICLE
21, 1888.J
bills on London..
Documentary commercial
Paris (francs)
Amsterdam (guilders)
Frankfort orJBremen (reichmarks)
4 88*1
4 86*«
4 85 ®4 85*4
4 84%®4 85
5 19*4®5 18% 5 18*s»5 17*9
405ls®
95*«®
40%
95%
40*3®409i<j
95%®957a
Coins.—The following are quotations in gold for various corns;
$4 85
3 85
Sovereigns
Napoleons
X X Reichmarks..
25 Pesetas
4 74
4 80
Span’ll Doubloons. 15 55
®$4 89
3
® 4
® 4
G)15
®15
®
90
80
86
70
70
Fine silver bars..
Five francs
—
—
93
93
®
®
Mexican dollars.. — 73*3®
Do uncommero’l -—73 ®
Peruvian sols
— 73
®
—
94
95
—
74*a
—
75
—
English sliver.... 4 80 ® 4 85
pursued by him will be similar to those of last year, except Mex. Doubloons.. 15 55
72 ®
par -a^prem. U. S. trade dollars
that the names of those making offers will not be published, Fine gold bars....
and this latter provision we believe that nearly every one will
United States Bonds.—Transactions in Government bonds
approve of, as it is certainly an interference with private rights have been moderately active during the past week, and
to make public the names of every firm or person who may
prices have been quite strong, in consequence of the offer of theoffer their bonds to the Secretary.
Secretary of the Treasury to purchase bonds. The circular was
The general effect of this bond-purchasing remains to be issued late on Tuesday, under the authorization of Congress,
seen, but as the time that the 4£a’ have to run till 1891 is and invites tenders of 4s and 4$s to be purchased daily at noon,
now so short, it would seem probable that a large amount of
beginning with Monday, April 23.
these may gradually be
drawn out, if the purchases
The closing prices at the N. Y. Board have been as follows *
of the Treasury continue and bonds are taken at a premium,
which is liberal under the circumstances. With the calling in
Interest April April April April! Avril April
of government bonds in this country and consols in England,
19.
18.
20.
17.
16
Periods
14.
as now seems probable, there is every prospect that the de¬
—
mand for investments of all classes will be stimulated, for
here there will be no new issue of governments to be taken by
4*39,1891
4*38, 1891
4s, 1907
Q.-Mar.
Q.-Mar.
reg. Q.-Jan.
coup. ,Q.-Jan.
reg.
coup.
*106*2 *106^
*10C*« "106%
*123*3 124
*123*3 123%
*120*2 *120*3
*122*3 *122*3
*124*3 *124*3
*127*3 *127*3
*129*3 *129*3
107
107*4 *107*4i 107*a
"106% *107*8 *107*4 107*9
124*8 *124*4 1243* 124%
*124
*124*4 *124*3 *124%
*121*4 121*4
*1-20*3 *121
*122*3 *123 1 *123*4! *1.3*4
*1254 *125*4
*124*3 *125
*128
"127*3 *127*3 128
*
129*3 *129*3; 130 i *130
investors, and in England a goodly amount of funds will be 48, 1907
reg. J. & J.
shaken up, of which a large part is likely to seek investment in 6s, cur’cy,’95
6s, cur’cy,’96
reg. J. & J.
better paying securities.
6s, cur’cy, ’97—reg. J. & J.
The latter part of the week has developed a feeling of 6s, cur’cy,’98 ...reg. J. & J.
68, cur’cy,’99
reg. J. & J.
greater confidence throughout our stock market, and in sev¬
Tliis is tbe price bid at the morning board; no sale was made.
eral leading stocks there has been a decided advance, with
State and Railroad Bonds.—State bonds have again had
every indication of strong buying.
Upon the whole, the bull
element is palpably in the ascendant as our week closes.
a relatively active market, the sales being scattered
over the
The latest prices for memberships in the different Ex¬ list and no class showing any special activity.
Prices do not
changes of New York and other cities are reported as follows: fluctuate much and there is little, if any, change from a week
N. Y. Stock, $18,000; N. Y. Consolidated, $975 April 19; N.
ago, except a slight advance in Louisiana consol, fours.
Y. Produce, $1,600 April 2; N. Y. Cotton, $1,100 bid, $1,250
The railroad bond market has been strong, and though there
asked; N. Y. Coffee, $675 April 16; N. Y. Real Estate, $1,160 has been no
special animation, a good demand for all classes
in April; Boston Stock, $14,000 Feb. 24; Philadelphia Stock,
is reported.
The business has been pretty well divided, and
$2,700 April 3; Chicago Board of Trade, $1,600 April 12.
The open market rates for call loans during the week on there have been very few features of special interest, though
the prevailing tone has been strong and a decidedly healthy
stock and bond collaterals have ranged from 1| to 3 per cent,
feeling exists.
Some of the low-priced and income bonds
and to-day the rates were 1|@2 per cent.
Prime commercial have
been conspicuously strong and advancing, notably Ohio
paper is quoted at 5@6 per cent.
The Bank of England weekly statement on Thursday showed Southern incomes, which were very active on Thursday with a
advance. Considerable strength has also been manifested
a
gain in specie of £225,000, and the percentage of reserve sharp
in many of the investment classes, but this is not conspicuous
to liabilities was 40*82, against 38*74 last week; the discount
because a few sales only of each class are reported.
Missouri
rate remains unchanged at 2 per cent.
The Bank of France Kansas & Texas 5s and
6s have been an exception to the pre¬
gained 3,125,000 francs in gold and 2,350,000 francs in silver.
The New York Clearing House banks in their statement of vailing strength, having given way a little in sympathy with
the decline in that stock.
April 14 showed an increase in surplus reserve of $2,249,550,
the total surplus being $10,870,425, against $8,620,875 the
Railroad and Miscellaneous Stocks —The tone of the
stock market has been firmer this week, business has been
previous week.
The following table shows the changes from the previous perceptibly better, an improved feeling exists, and most
week and a comparison with the two preceding years in the of the leading stocks show an advance.
There has been
some
averages of the New York Clearing House banks:
disposition to cover shorts, though the principal
cause for the improvement is to be found in a more confident
1886.
1887.
1888.
feeling arising from the Secretary’s circular of Tuesday inviting
affine's fr*m
Prev. Week.
April 17.
Aj)ril 16.
offers for the sale to the Government of the 4s and 4$s daily
April 14.
from Monday next.
On the other hand the unsettled condition
$
$
$
$
of the foreign markets caused by the sickness of the German
50,512,700
Capital
58,928.400
Surplus
Emperor and the political disturbances in France has had an
Loans and dlsc’ts. 367.286,800 Dec. 1,062,600 368,562,300 350,567,700
Another drawback has been the decline in
unfavorable effect.
Inc. 1,171,900 77,688,700 76,682.100
72,946.000
Specie
7,892,900
7,757.400 Ini.
8.358,700
30,900
some of the Gould stocks, especially M. K. & T., the old rumora
Circulation
374.430,700 Inc. 2,859,000 376.469.400 376,753,800
Net deposits
31,532,100 Inc. 1,792,400 20,917,300 32,229,000 having been revived of a possible receiver, owing to the poor
Legal tenders
*
*
-
Legal reserve
Reserve held
Surplus reserve...
714,750
93,607,675 Inc.
104,478,100 Inc. 2,904,300
10,870,425 Inc. 2,249,550
94.117,350
94.188.450
98,606,000 108,911,100
4,488,650
14,722.650
Exchange.—The demand from remitters of sterling exchange
and from arbitrage houses has been better the past week, and tinmarket has at times been quite active.
The supply of all kinds
of bills has been rather limited, and this fact, together with
the increased demand, has kept the market quite strong, and
rates are a trifle higher.
All leading drawers have advanced
their posted rates to 4 86£ and 4 884, these having been the figures
asked by some for a couple of weeks past, although mosi
bankers had been asking only 4 8S and 4 88.
on actual business were as follows, viz..
days’ sterling, 4 86@4 86demand, 4 87f@4 88
Cables, 4 88 @ 4 88J. Commercial bills were 4 84f@4 85.
To-day the rates
Bankers’ 60
financial condition of the company.
Most other stocks have been firm
throughout and a few have
Of the latter New England takes the lead,
having advanced from 34 to 39f on large transactions. There
has been no definite explanation for this sharp advance. Rich¬
mond Terminal has been strong at times, though somewhat
irregular. The early advance was accompanied by rumors of
buying in the Georgia Central interest, and it was also stimu¬
lated somewhat by the election as President of Mr. John H.
Inman.
Northern Pacific preferred rose to 47$.
The coal
stocks have again been prominent, Lackawanna and Jersey
Central advancing the most, the latter to the highest price of
the year.
Favorable reports of the earnings and general finan¬
cial condition of the company have been current. The grangers
and Vanderbilts have been less conspicuous and not very active,
though improving somewrhat in sympathy with the market.
been very strong.
THE CHRONICLE.
502
ENDING APRIL. 20, AND SINCE JAN, 1, 1888.
STOCKS—PRICES AT N.Y. STOCK EXCHANGE FOR WEEK
HIGHEST AND
STOCKS.
Monday,
April 10.
Saturday,
April 14.
Active UR. Stocks.
Atlantic & Pacilic
Canadian Pacilic
Canada Southern
Central of New Jersey
Central Pacilic
[VOL. XLVI,
Sales
of the
LOWEST PRICES.
Thursday,
April 19.
Wednesday,
April 18.
Tuesday.
April 17.
Range Since Jan. 1,1888.
Week,
Friday,
April 2©.
,
Lowest.
Shares.
Highest.
•
791-1
29i4
*1
118
Chicago Burlington Sc Quincy
Chicago Milwaukee Sc St. Paul
pref
Do
'
70ie
110»4
100 V
Chicago & Northwestern
Do
pref
*18
19
*48%
934
49%
10%
*57
00
204
20%
34%
10
119
10
119%
11%
Lake Erie Sc Western
Long Island
-Louisville
Sc Nashville
/Louis. New Alb. Sc Chicago..
Michigan Central
44%
88%
54
543s
*514
15%
1350
72%
*7%
Minneapolis Sc St. Louis
pref
-Missouri Kansas & Texas
-Missouri Pacilic
Mobile Sc Ohio
ids
13%
1 st pref
Do
Do
2d pref.
-New York Lake Erie Sc West’i
Do
pref
-New York Sc New England...
New York Ontario Sc West...
New York Susq. Sc Western..
Do
pref
Norfolk & Western
Do
pref
-Northern Pacific
Do
pref
Ohio & Mississippi
91
40
85%
77%
*
2414
ids
13%
10
8%
29
1734
217s
40
22
45%
45%
20
20
*18
Evansville
57%
Philadelphia Sc Reading
'Wheeling Sc Lake Erie
50%
Miscellaneous Stocks.
•Colorado Coal Sc Iron
•Consolidated Gas Co
Delaware & I liaison (’anal...
*33
71
49
85) %
31 %
Xt) / i*>
Pacific Mail
Philadelphia Co., Nat. Gas...
-Pullman Palace Car Co
‘Western Union Telegraph...
Inactive Stocks.
American Tel. Sc ( able (Jo
Boston & N. Y. Air Line, pref
13%
71%
8%
20%
20%
88
87
87
*31
85%
7734
77%
*52
*84
90
7
*5%
14%
13%
72%
*7%
*74%
13%
73%
8%
75
104% 105
13% 14
64% 04 'h
•19
28%
24%
50
50
37
33%
*15%
8%
28%
*17
40
22
45%
20%
19%
18%
57%
23%
03
*04
*28
19%
20%
18%
58%
24%
18
57%
23%
05%
*83%
*25%
27%
07%
23%
52%
1234
23%
53%
12 34
23 to
50 %
23%
51
50%
33%
89%
31%
32
*07
*135
108
•V
9%
1,235
54%
78
*50
80
0
15%
11%
72
*7
14%
14
44
43%
89%
91%
54%
90
91%
55%
32
10
8%
78%
140
' 108
*1 35
80%
.86
0
73
*72
130
130% 137%
7
10%
12%
11
71%
24%
25
57
57
30%
39%
10
10%
8 3_j.
1 IO
18
51
51%
*72
130
*135
8%
20%
21%
18
59
2334
12%
74%
8%
29%
25%
53%
13
0.13%
22% 23%
51% 51%
23 n.
33% 35
7272%
107% 108%
34%
33
99
142
90%
32%
32%
142
73%
74%
140
140
51
50
89
112%
74%
140
108% 108%
10%
8%
30%
*72
73
140
73 %
130% 130%
9,115
43,745
130
1,000
2,810
1,200
-
05
350
25,510
927
970
2,820
4 00
18
40%
23%
4734
20%
22%
15,890
1,035
20,800
2,250
47,500
2,400
19%
00% 285,380
24% 137,180
05%
4,375
87%
1,180
500
27%
537s
13%
23%
50%
3434
35
73
%'
73%
10734 108%
50% 51
90% 901>'
33V
!)s%
142% 142%
74% 75 %
140
10!)
73
135
GOO
220
720
39% 138,255
53%
13%
23 %
50%
33
98 to
250
2,423
2,000
050
58
.
52%*
50
25,540
10%
00
00
05%
80
8034
87%
*20
27%
27
07 % 07 ‘U xG5
00
111
111
111
*109
48
48
51
51
1
*95
98
101%1l02
103
102
21 % 25%
23%i 24%
108% 108%
73
38%
*10
59%
24%
53%
13%
140
24%
*50
20%
52%
13%
23%
74
29%
42,518
110
109
110
109
97%
......
*135
I
!
*41%
90*8
*2%
*4%
140
41%
91
*135
41%
91
*70
3%
*2 lo
5
*4%
15
53
M34
1 140
10
*153
*91*>
30%
St. Louis Alt. A Terre Haute.
South Carolina
*5%
Columbus A Hocking Coal
*19%
Tennessee Coal A Iron
27
Various Stocks, Ac. (Uni isted.)
Airier. Cotton Oil Trust
28%
805s
91
75
3t>
5
15
135
42
91
*70
*-•>10
434
15
3%
4%
15
...
14:H
*14% 14%
140% 140%
104% 104%
105% 105%
*14%
110
! 101% 105%
*215
42%
50
1434
97
*
*
221
11
155
4%
*12
51
*14%
4%
20
51
15%
■
.Tan.
55
Jan. 28
*2 to
3 to
4%
4%
*14%
14%
*210
11%
154
*9%
*35
*35
220
12%
154
28%
29
80
28U>
8334
29%
88%
the prices bid and asked; no sale was made at the Board.
434
4%
*12
10
15
140
15%
140
20%
27
28
25)
28%
87%
89%
85%
*210
13
221
13
153% 154%
10%
37
30
84
Mar. 22
40% Apr.
85% Apr.
87% Apr.
10% Jan. 12
Feb. 23
8sa. Jan
40% Jan.
91% Feb. 11
04% Jan.
9
39
90
80
Mar. 27 104%
9%
11
Mar. 23 17%
11
Apr. 19 18%
70% Mill*. 24 8934
0% Mar. 29 13%
71
Apr.
2 80
102% Apr.
2 108
1234 Mar. 31 17%
03
2 73
Apr.
37
Mar. 31
28
22% Mar. 9 29%
Mar. 22 05%
53
29% Mar. 22 39%
147s Mar. 10 18%
370 Mar. 28
Apr.
Jan.
0
Jan.
9
IO
Jan.
5
Jan. 11
Jan.
9
Jan.
5
Jan.
3
Jan. 27
Jan.
9
Jan.
9
Jan. 27
Jan. 27
Jan. 30
Jan.
9
Jail. 10
Apr. 20
Jam
9
7
9% Jan.
33% Jail. 30
2
18% Feb.
28
2
24
31
3
31
27
2
2
2
2
Jan. 10
Jan. 10
87% Jan.
M:ir. 27
83
19
55
3
Apr. 14
5 122% Feb.
3
Jan. 20
2S 14
10
33
Apr. 20
.Tail. 30
22 10
2 47 Jan. 9
2 95% Jail. 9
2
2
30
Apr. 18
83% Apr.
3
72
Apr. 2
7% Mar.
20
Apr.
15% Mar.
41% Mar.
197s Apr.
42 34 Mar.
17% Mar.
17% Apr.
1534 Apr.
51% Apr.
10
lo
50% Apr.
47
Jan. 30
23% Apr. 20
477s Jan. 10
25
Jan. 31
2234 Jan. 18
23
Jan. 11
07% Feb. 18
24 V Feb. 23
09% Feb. 23
88
Jan. 31
30% Jan.
5
73 % Jan. 30
110
Jan. 16
02% Jail.
3
82% Feb. 13
Mar. 27
520
43
Mar. 29
100
8<>
AT:ir_ •>!) 105
1,357
94
20
48
Apr.
12
21
Mar. 27
Mar. 21
2
3
Jan.
28
2 114% Jan. 23
27% Jan. 30
Mar. 22
2; 58% Jan.
Apr.
44% Jaa.
3
3
Jan.
2834 Jan.
6
55
Feb. 13
10
3
4,100 30% Apr.
2 38 V Feb. 17
Jan. 18
1,801 08% Mar. 29 78
Jan. 30
0,155 103
Jan.
3 112
995
2,802
0,158
in
45
<)7t)
55
Mar. 29
84% Apr.
28% Apr.
\
nr.
2,192 135% Apr.
03,207 70% Apr.
1
210
07
00
128
193
105
70
97
135
7,1/3
40
Jan. 18
9434 Feb.
3
37 V Jan. 16
2
2
100 tv Feb.
t
15
3 114% Jan. 30
2 79'% Feb. 24
110 137
Apr. 12 145
.150 100% Mar. 22 109
Jan. 23
Apr. 20
Jan. 20
Jan.
4 74
Jan. 19 137% Apr. 10
2,075
Jan. 12 75
99%
Apr. 11
Jan.
9 140%
Mar. 19
43%
89% Mar.
1,195
200
4% Apr.
10
50
Jan.
4 50 125
.T:m.
1,217
1,700
215
810 10
304151
9
Jan.
Mar.
Jan.
Mar.
Mar.
Mar.
33
2134
27%
21 to
1,850
17
27%
28
5,400
24% Apr.
29%
87%
29
8 3 :<4
29% 12,283
80% 23623,000
74% Apr.
1 Lower price is ex-dividend.
3
15)
Feb. 10
Mar.
Feb.
Jan.
94% Jail.
15
10
30
26
80
Feb.
2
4% Jan.
9
6% Feb. 24
15
Apr. 16
57
Feb. 23
15% Apr. 20
31140% A 1>r.
2
p 100
Mar.
6
Jan. 16
1 223
13
22
Apr. 20
5 154% Apr. 20
19
1334 Jan. 12
31
38% Jail. 10
Jan. 11
27 39
9 34 J;in. 27
31
?
Jan.
22 30
Apr. 13
13% Mar. 5
505
100
*35
*0
2
05to Apr.
2
21> Mar. 23
37
7 *2
22
’
82
fi
23% Feb. 24
32% Apr. 2
7% Mar. 20
210 1021* J;in.
221
*215
221
*210
*215
*10
11
10
To
10
10
*153
15.3
153
*153% 154
*9%
*J)lo
id to
10%
10%
37
30% *35
30% 30 34
37
-0%
710
8
i)
8
20t>
20% 20%
20% 21
20% opn.
27
27
25% 20%
28
20% 27%
28%
82%
9
23
i
70
70
70
*97
98
97
*97
98
*97
98
140
”135
140
140
*135
110
*130
42
42 to
41% 42%
12% 4234
42%
91
91
91
91% 91%
*90% 91
74
74
*70
70
70%
97%
140
Jan. 27
25 V Jan.
05
2
17% Apr.
Apr.
380 105% Apr.
2,200
1,925
1
133% Jan. 30
24
03
550
17
30
53% Feb. 16
3,230
18,902
03,404
24
38% Jan.
6
40 34 Jail. 10
Mar. 22
1,050! 12% Mar.
3,300
27
“
50
70 % 70%
105% 105%
14% 15
00
GO
47%
21%
22%
97
103
23% 24
74%
15%
11%
72%
*7%
45%
2034
20%
*95
103
141%
90
7
23%
85
32%
79%
22%
85
55%
38
87%
*50
*80
*0
29%
20%
14%
44%
90%
91%
55
805 114
Mar.
512
9% Mar.
700 27?a .Tan.
13
33
*31%
85%
78%
*10%
45%
23%
47%
58%
23%
32%
*90
55
10%
45%
45%
22%
4534
18
34%
89%
29%
17
34
44
834
29%
*10%
44%
8%
59%
24%
05%
8534
27%
07%
23%
53%
13%
23%
51%
73%
HH
70%
*7
70
105
105%
1438 14%
05
05
29
29
10
29%
45%
20%
20%
90
*0
*15
15%
13%
73%
8%
10%
44%
*22
32%
14%
78%
18
108% 108%
13
r
29
99
73%
119% 120
32
87
58%
23%
04%
140% 141
9%
14%
44
89%
91%
55%
31
80
78
30
80
7534 77
105% 105%
14% 14%
04% 05
28% 28%
24% 25
57
57
30% 37
ns
^O
9%
9%
119% 119%
12% 13
72 %j
72% 72%
2 07% 108% 107% 108%
49
*48
49% 49%
89 % 90%
89% 89%
50
89
34%
72
71% 71
107% 10.7%
*4 8
*34
27% *20
07%
67%
110% 110%
*109% 111
47
47
"•4034 47%
34%
33%
80
34%
07
23%
52%
*12%
23%
10
34%
18
103
20%
128%
18%
49%
34% 34%
9%
9%
119% 119%
11
11%
58%
24%
00%
*93
97
103% *xl01 102
49
11% Apr.
29% Mar. 31
37% - 7,860! 32% Apr. 2
10(5%
441'102to Apr. 3
700i 42% Apr.
49
2
20%;
Mar. 21
100 17
129% 140,790 123% Apr. 3
2
125 Inti Aur.
18%
791 44
49%
Mar. 241
10%
1,835
8% Mar. 22
20%
18
110
100%
5 % Feb.
4
10
Jan. 24
7% Feb.
7
2 114% Jan. 27
4 | 14% Jan. 10
100
32%
21%
40%
20%
110
37
Apr. 20
33% Jan. 10
3 145to Feb.
Am*.
500
32%
83
Mar. 20
2,578 103% Apr.
300
800
700
400
*90
,
571138
142%
111%112
01.
21
87
9
19%
142% ‘142
1
1034 Jan. 10
02% Jan
3
5034 Jan.
9
3% Apr. 18
1 % Mar. 20
5,058 112
Apr. 2 130% Jan.
Feb.
130,855! 67 Apr. 2 78
447 109
Apr. 3 116 Feb.
41,815102% Aur; 2 110% Jan.
21
*85
13%
73%
22%
119% 119%
71 % 72%
112% 112%
10734 108%
11134 111
111%
12% | *12% 14
| *31% 33
30% 37%
37%
100%
48
48
48%
7% Apr. 3
55% Feb. 0
45 % Apr.
2
73% Apr. 2
20% Mar. 20
05
20%
85%
14%
43%
89%
00
30
490
*2ti
*30
90
7
16
*4
*59
*20%
(JO
*1%
00
8534
18
40
22
40
21
142% *142
16,390
23,170
457
700
29
“
050
59
30
10%
8%
28%
17%
45%
10%
8%
28%
2
83
29
1,010
01
*58
80%
77%
24%
56%
37%
82
*18
21
128% ! 127% 128%
*17% 18%
*48
48 34 i
48% 48%
9%
9%
9%
934
40
24%
50%
30%
1534
8%
28%
17%
4538
22%
4534
20%
49%
82%
29%
1%
3%
119% 11 8% 119%
72%
70% 72
111% *110% 112
108% 107% 108%
.
75%
105
105%
14% 14%
67
27%
07%
89%
31%
9s
28%
24%
70
Do
pref
•Cincin. Ind. St. Louis A Chic.
Cincinnati Wash. A Baltimore '
Do
prof i
Elizabeth Lex. Sc Big Sandy.
21%
2
2
50
9%
59%
50%
<•
Chicago Sc Alton
■Chicago A* East. Illinois
are
10%
00
*
51%
*135
140
108
108
721> 73
135
135
Wells, Fargo & Co
Th?se
*934
00
140% *139% 140%
731*2 74%
73% 74
-Adams
American
United States
*
10%
01
49
49%
81%
82%
29% ! *29%
1%
1%
334
3%
8 34
*58%
128
128%
48%
-139
Express Stocks.
.
*5%
19
34
71 %
100
48
48%
40
85
77%
58%
23%
10738 107=%
•Oregon Improvement Co
•Oregon Railway Sc Nav. Co..
ripe Line Certificates ;
*31
85
19%
23
03 % 04
Do
pref
82 % 82%
-Rome Watertown & Ogdcnsb’g
'•St. Louis Sc San Francisco
273s 27%
*00
07
Do
pref
Do
1st pref *108
109%
rSt. Paul & Duluth
98
<JS
Do
pref
St. Paul Minneap. Sc Manitoba *102
103
23
Texas Sc Pacific
23%
Union Pacific
52*8 53
*12 Jo,
Wabash St. L. Sc Pacific
1334
*
2 214
Do
23%
pref
‘Richmond & West P’t Terminal
pref
88
24%
34%
*1914
llo
1 ti
48
21
59
81%
29%
8%
58%
*8%
58%
8%
59
49%
34% 34%
34% 34%
9 34
9%
9%
9%
120
119% 119% •119
*10% 12
*10% 11
29% 30
*13 %
14
13% 14
4334 4334
43% 44 ’
88% 89
88% 89%
*89% 91
*89% 91
54
54% 55%
54%
733y
9%
16
*28
*17
45 7b
•Oregon Sc Trans-Continental.
Do.
*20%
7
15%
13%
33%
8%
•
Quicksilver Mining Co
*40
*18
3 20
20
50
10%
.
•
Memphis A Charleston
29%
1%
75
-■Nashv. Chattanooga & St.Louis
New York Central Sc Hudson
•New York Chic. Sc St. Louis..
Mexican Central
Morris A Essex
N. Y. Lack. A West
N. Y. New Haven A Hart
Ohio Southern
Pitts. Ft. Wayne A Chic
*18
*48
*50
*84
Mil. Lake Shore Sc West
Do
pref
-Peoria Decatur
4414
88%
9014
*30
8 514
77
Manhattan Elevated, consol.
29‘4t
79%
125% 120%
87%
Do
pref
-Lake Shore & Mieli. Southern
48%
48
21
*57
*34
*10%
48%
79%
*1
*40
*17
Kingston Sc Pembroke
Do
48%
79%
*29%
*8%
8%
59%
49%
81%
29%
'3%
*3%
*2V
!
2
1183s
118% 118% 119 %: 119
71%
7034i
703g 71
70% 713±
111
111
111%
11034
10714 10G% 107% 107% 108% 107%
*141 to 142% 142% 142% 142%
IK)
111
110
110% 111% 111
13
12% 12%
1234 13%
12%
32% *31 % 33
*31% 33
j
30
30
3534 30
30%
30%
125's 120%
Delaware Lackawanna Sc West
Denver & Rio G., assessm’t pd
Do
pref
East Tennessee Ya. & Ga. R’y
1st pref
Do
Do
2d pref.
Evansville Sc Terre Ilautc—
Fort Worth & Denver City...
•Green Bay Winona Sc St. Paul
Illinois Central—
Ind. Bloom. & West
8%
59
*2
118
110
*12
*31 %
30
105
105
48
*40
Chicago Rock Island Sc Pacilic
Chicago St. Louis Sc Pittslmrg
Do
pref
•Chicago St. Paul Min. Sc Om..
Do
pref
Cleveland Col.Cm.& Tndianap
Columbus Hocking Val. &Tol
8%
1
*413
*2%
1st pref
2d pref.
*8%
1
Chesapeake & Ohio
Do
Do
8%
59%
487b
79%
29%
1%
*838
*5g Lo
481*2
35
7% Jan.
25
Mar.
2
32% Jan. 30
Mar. 21
3434 Jan. 1»7
5 100
Mar.
Prices from both Exchanges.
«
April
503
THE CHRONICLE.
21, 1S88.J
QUOTATIONS OF STOCKS AND BONDS.
GENERAL
other quotati ma are frequently made per sh ire.
bo;
for gold; “ g’d,” for guaranteed; “end.,” for endorsed; “eons.,
for consolidated; “conv.,” for convertible ; “s. f.,” for sinking fund; “ 1. g.,” for land grant.
Quotations in New York are to Thursday; from other cities, to late mail dates.
Quotations in Now York represent the per oent value, whatever tho par may
The following abbreviations are often used, viz.: “ M.,” for mortgage; “g.,”
favor by giving notice of any error
Subscribers will confer a
United States
reg..
4Vs,1891
coup..
4Va,1891
1907.'.
4b, 1907
4a,
.
reg...
coup.
107*8
124 V
124 V
j
Class “C,” 4s,
1906
6s, 10-20, 1900
Arkansas—6s, funded, 1899
..
J &
J &
128
130
-
•
•
121
9
10
10
Belfast, Me.-
20
100
100
124
122
101
97
103
IP 6
102
100
105
128
116
118
Brooklyn, N.Y.—Park 7s, 1924. J&J 101
Bridge 7s, 1924
J&J 161
Park 6s, 1924
J&J 145
Bridge 5s, 1919
..
J&J 127
J&J 106
Bridge 4s. 3 926
10
*
:
1
105*2 1*06
101*2 102
Water
100
J&J
3s, 1005
103
118
Water 5s, 1898-9
A&O 104
Ll8*2 H87b
.J&J 100
Wa.er 3Vs, 1905...
J&JI| 110
100
Wa.er 3s, 1910
f 107**
Cambridge, Mass.—Water Pa/96J&J 114*2 115V
t! lio*t
J&J 123*2 125
City ds, 1004
fllo7%
95
Water 3Va, 1911
Var 93
i 122
Charleston, S.O.—Conv.7s, ’97.A&O 106
128
Conv. 4s, 1909
J&J 85
129
Clielsea, Mass.—6s, 1897,water loanl 112*2 114
115V
112
Chicago, 111.-78,1892-99
t 108
Cons. 3-658,1924, reg
Funding 58, 1899
i 113*2
_
Georgia—7a, goldoonds, 1890.
104
105
106
107
100
Louisiana—New con. 7s, 1914.
Stamped 4 per cent
104*2
1
102
99
99
105
6s, 1890.
1
3
105
109*2
113*2
i
105
)
J &
Missouri—6s, 1888
J& J 1
«T
War loan, 6s, 1892-1894
War loan, 6s, 1901-1905
New Jersey—6s, 1897-1902
Cook Co. 7s, 1892
Cook Co. 5s, 1899.
Cook Co. 4Vs, 190
915a | 92
52hi ! 54
)
113
105*4 106
,100
i.
1105
......
0
m
m
102
m .
!104*h
m
m
m
.
1105
103
30
132
i 1
109
106
no
114
6s, 1903
08, gold,
4s, 1905
Var
M&N
1906
M&NJ128
J&J
i
1
7s, 1905
N. J.—7s, long
►swego, N. Y.—7s, 1387-8-9
•range,
-1
130V
104V
104V|i
new, cons.,
J &
1910
119
South Carolina—6s,
Brown consols
Non-fund., 1888.
Tennessee—68, unfunded
Settlement, 6s, 1913..„
Settlement, 5s, 1913
Settlement, 3s, 1913
<
3*2
loau^J & Jt
1884-1914. J&J
115
94*2
......
5
107*2
70
100
71*2
62
103
92*2 95
,
6d*4
103
69^
111
115
125
7s, gold, 1904...
1
o
117
138
136
100
10
J & Jf;141
93
!]
J&J
100
87 hj
ll 6
107*2
J&J
1
5s, long
Var.tlOtf 107
J&J
I
5s,
Var.i 101 102
10-20
J&J
4s,
1905
LfeD.t
100 I02*fi
120*2
122
J
(Fall
River, Mass.—6s, 1904...F& At
gold,
A&Oi
119 Vim
St.
L.Co.—6s,
1905
104
*4! 105 *4
5s, 1894, gold
F&AI
St. Paul, Minn.—4s, 1912.
i\ 96
96V
F&At 11* V 115
j 5s, 1909
4 Vs, 1916
105*13
\ 103 104
Fitchburg, Mass.—6s. '91, W.L.. J&Ji 105
5s. 1915
[ 103
103
<
Galveston,
Tex.—8s, 1893-1909.M&S 101
98
I
6s,1904
J J10 111
5s, 1920
J&l) 92
} 119 *2 120
7s, 1898
1]Hartford, Conn.—6s, 1897
J&J ill
8s 1897
1,124 L26
! 10-25 years, 4Vs, 1890-1905.J&J loo
j Salem, Mass.-6s, ’98, W. L.A&O .JillbV 117V
]Haverhill, Mass.—6s, 1889... A&Oi LOIV 102
5s, 1904, W.L
J&J tjllOV 112
!jHoboken, N. J.—7s, 1892
!
A&O
...100 1102 V
Savannah funded 5s. consols
Improvement 6s. 1893
J&I.mil2 114
Somerville, Mass.—5s, 1895.. A&O I 10c V 107
do
5s. 1901
M&NL...
i
5s, 1905
A&Ot;112*2 113 *U:
JHouston, Tex.—10s
I 45
!
Springfield, Mass.—6s, 1905..A&Oi;122 424
6s, funded
| 45
A&Oij 133 131
7s, 1903, water loan
Indianapolis, Ind. - “D” 7’3,’99.J&J 110
Toledo, 0.-7-308, RR., 1900.M& N 1,116 417
6s. 1897
.......J&J1 i 0 *5
120
i 8s, 1893-94
.Var. 1,112*4 114
jJersey City—Water 7s, 1902
Varj 117 112
Washington, D.C.—Nee Dist. of Col. 1
Water 6s, 1907
JA J 108
Worcester, Mass.—0s, 1892—A&O11107 *s l08
Funding 6s, 1909
F&A 108 1 L2
120
105
60
110 V
120
110*4
119
J&u
J&Jj 106
95 V
4
1125%
120
112
117
(121*2123
J&J 101
'103
107*4 107 V
!
5«, 1912....
Vs, 1912
4s, 1912
8
10
93*2
,125
J&J.1115
123V1
i890.
20
6
4s,
100
J&J
|
do
137
5s, reg. and coup., 1913
6s, gold, rog
Var. j 124
7s, water,reg.Aop.,’93-98...A&O. 123
5s, Refunded, 1912
iil4 116
4s,
do
1915
.'105 107
Portland,
Me.—6s, Mun., 1895. Var.i110/ V^109
]
6s, railroad aid, 1907
M&S
1
‘
6s
6s
.
! 113
133
116
114V
114
107
M&8 115*2 116V! 4s, funded, 1902-12
1
103
J&D 109 109V ortsmouth, N.H.—6s,’93,RR.
104
J&J 96*2 97V 1
4b, 1903
58,g.,1900...J&J i
103*2 105
Columbus, Ga.—7s .
Var. no 112 ||
101V
101
6s, gold, 1900, water
0
108^ 110*2
129*2 130
Covington. Ky.—7-30s,
F&Al 109*2 inv :
New adjustment, 4s
130
120
7-30r Water Works
A&Oi 105*4 106V
Lichmond, Va.—6s,
125
118
4b, 1937, now
J&Ji 102 103
no
83, 1886-1909
109
Dallas, Texas—8s, 1904
115
I
no
5s, 1914-15
1L0
10s, 1893-96
4s.
103
100
111
| Water, 6s, 1900
.Var.
-68
116
40
35
Detroit. Mich—7s, 18 92-93-94. F& A in
93
7s, water, 1903
170
3*cs, 1911
J&D 92
6s,’89-99,RR.-F&A
140
Elizabeth, N. J.—New 4s,1912..J&J 82
lse 48,1901
;
10
(Evansville, Ind.—0s, 1912
Var.t
Hi
AAO
113
|J1' ! 119
113
| 111
110
j 168 ! 101
1169 112
Va.—6s
J&Jj 110
88
J&J} 113
8s, special tax
..;i118
|\ ’hiladelpbia, Pa.—6s, 1898-’99 J&J | 128 V 1
6s, new, reg., due 1900 & over. J&J; 134
}104
Var 10178 103VI
Hamilton County -in.....
Cleveland, O.—7a, 1894
0a, 1900
5s, 1907
101*2
102
102*2
J&J 112
8fl, water, 1901
123V;
121
Premium 5s
6s, long
5s, long
4 V«, long
110*a
4s, long
| 1 ’etersburg,
105*s
j
105
103
A.&O 109*2 111
I 106 110
N. J.—7s, long
5s, 1905, water loan
„
6s, 1895
4^8, 1900
124
i 100 j. ....
jI3438jl34%t
Consolidated 6s, 1892
Var.jlllV!ll2V>
i
| Newport, Ky.—Water bonds 7-30S..I.
!4ew York City— 5s, 1903
123 120
126
6s, 1890
j
; L10 130
6s, 1901
i 129 lo7
il06 126
! 7s. 1890
f
7s, 1896
' 125 137*1;:
7s, 1901
135
.
Market stock, 7s, 1«92.
Water stock, 7s, 1901..
do
78,1903..
117
135
130
5s, 1900, Water Loan
6s, long
130
Var.il 15
Var. 1,130
S’ew Orleans, La.—
165
150
132
103
103
106
114
104
1108
Var.ii 119
7s, 1825
7s, water, 1905
Sf. Brunswick,
165
105
ICO
f
5s, 1909
6s, 1908
113*2 115
98H 100
2
*
104*4
107
113
113
I06*c 108
.
12
10
1S92..J&D 111V 112V
J&J 123 125
|1033i 101*4
96
48,1915-17
•’ 95
82
Mobile, Ala.—4-58, funded —J & J 80
75
Montgomery, Ala—New 3s ..J & J 70
! 5s, new
96 ;100
Nashville, Term.—6s, short
j 100
7s, 1901
4^3, 1912-15
....
.
! Ask.
Minneapolis, Minn.-8s,
120
105*4
124*e!
6s, long
127*1 130 1 Newark—4s, 1906
109 |
4Vs, 1906
Q—J
103
.
b
GHmeotic‘t~New,rg.,3Vs>1904J&J1
...
E. A N.
J 102
J
6
5
8
78, Ark. Central RR., 1900.A
J
7s, Levee of 1871,1900
California—6s, funded debt of 1873'
122
1902
4s, 1920
1053i!
10!)
10 L
1
9
j
New, reg. or coup., 3s, 1910 ..
Dakota Ter.- 5s. 10-2Cs of 1887
4Vs. 10-208 of 1887....
130*2!(
105*i
.
6s, 1900
6s, West. Md. RK.
Bid.
City Securities.
Ask.
106*2 107
......j
J I25*ij
6a, Currency, 1899
reg—JA
STATE SECURITIES.
Alabama—Class “A,” 3 to 5, 1906.
Class “ B,” 5s, 1906
109
......|
j 12b*.|
J
J
115
105
1C4
Austin, Texas—10s
Baltimore—6s, oonsol.
107*2
4 107 \
4 107 *r
J 124*1
J 12 t *1>
J 121*^
Bid.
City Securities.
Ask.
Bid.
Bonds.
discovered In tlieso Quotations.
......
...........
Virginia—6s, old, 1886-’95
J
6s, new bonds, 1886-1895.. .J
J&J
6s, consols, 1905. ex-coup
6e, consol., 2d series
J&J
68, deferred bonus
from 10-40s
Do
(Riddleberger). 1932. J & J
10-40s, cp. & reg., 3 to 5,1919. J&J
New3s
CITlf
48
48
38
70
8*2
32
24
04
35
40
....
5 s,
.
32*2
044»
37
ifar.
Var.
Vs, coup., 1885-1901
4b, coup., 1901
Allegheny Co., 5s, cp., 1913.J&J§
4b, not loan, 5-10s
4s, riot loan, 10-20s
5s,
do
10-20s
101
48, refunded* 5-20s. 1891-1906
Atlanta, Ga.—8s, 1902
J&J 110
Water 7b, 1901
J&J 112
6s, 1895-6
J&J 106
5b. 1914-15
4 Vs, 19 L6
J&J
104
JAJ
J&JI
Var
-... JAJ
118
no
Augusta, Me.—6s, 1905, Fund.
Augusta, Ga.—7 s, 1900-2
6s, 1905
Price nominal; no
10J
A&O
6s, 1900
l 10
122
120
112
112
110*u 111*2
118*13 120
I
Long
Island City, N.Y—Water.7s....t 103*2
1
Louisville,
Ky.—7s, 1903
Var 107 121
1
6s, 1897
Var 102 108
1O-40S, «s, 1920
M&N 106 107
99
:
J&J 98
4s. 1923
L .owell, Mass.—6s, 1890, W. L.M&NI, 102*2 103*4
106
105
.yncliburg, Va.—1901-4
101
101
8s, 1905
101
101
|
I ■ynn, Mass.—Water
Water loan, 6s, ’96
J & Jl
110*2 111
123
110‘s 111*2
L13 ~q 114
113
112
J & J | 126
loan,6s, ’94J&J
J&J I
M&N I
5s, 1905
I
102
>
I
t.
R
6s, 1902
4s, 1911
.•--S lemphia,
no
J&J
r
Albany. N. Y.—7s. 1910-16.... MAN 137*2
4
J&J
J&D
County 7s, 1894
Bay«nne City, 7s, long
SECURITIES.
Allegheny, Pa.—5b,cp., ’87-97..Var.
M&S|ll4
Hudson
i
115
102
100
100
105
100
100
100
100
1
1911
Hudson County 5s, 1905
Hudson County, 6s, 1905
9
|
J&J113
101
Tenn.—Fii.qun 4-‘Js .J&J i 99
late transactions, t Purchaser also pays
113*2
102
993*
9
J& J j 99
J & J i 101 *2 102*s
Tax Dist, 4-t‘s
Tax Dist, t s
1 lilwauke^Wis.—Water
W* te-4s, 1906-7
112
109
7s, ’02.J&J 107
J&J 95
accrue 1 interest.
109
A&0412*2 114
A&O ,101 *2 It 3
53.1905
4s, 1905
RAILROAD RONDS.
j
(Bonds of companies eonsolid ted will |
be found under the consol'd name.) j
Ala. Gt.
1903:414
190b.. 1405
U 50
Southern—1st mort.,
Debenture scrip, 6s, gold,
Ala. N. O. T. &c. 1st deb. 6s
Mdeb6Ut.68,i1907......Vd...T-;;i:il4;>
! 135
Allegh. Val— Gen.
M., 7 3-10s.. J&J j 115
East, extern M., 7s, 1910—
Income, 7s. end., 1694.. ....
Atch. Top. &S. Fe-l8t,7s,
A&OjllO
A&O > 21
’99 JAi 120
415*2
i
24*9
1120 *2
ill7*a
....A&Obil7
.J&D t LUd*u 106
Guaranteed 7s, 1909 .J&J&A&Of 4 L7 *2 118
5s, 1909 (1st mort.)
A&Ot 100 100*«
5s, plain bonds, 1920
1 88 *«
4*28,1920
A&Oi j t*8 j 98**
Land grant, 7s, g., 1902
Sinking fund, 6s, 1911
Col. Tr. 5s, 1937
Florence& EL Dor’do,lst.78.A&Ot,112
,113
M.,78,g-J&JJ 122 ,123
414*2N. Mex.&So. Pac., 1st,7s,1909A&OM48*all9
K.C.Topeka&W.,lst
^
do
I In London. J Part being
income7®-'A& Jjlll
redeemed,
Coupons on since ’OS’
THE CHRONICLE.
504
GENERAL
For
QUOTATIONS
Bid.
Railroad Bonds.
Ask.
▲toll. Top. & 8. Fe—(Continued)—
Chicago & Alton—(Continued)—
Louis’a &Mo.R.,2d, 7s, 1900 M&N
Pueblo & Ark.V., 1st, 7s, g.,1903. t!16% 117
102
102%
St.L. Jacks’v.& C., 1st,7a,’94. A&O
Bonora, let, 7e, 1910, guar.. J&J
do 1st guar.(564),7s,’94A&0
Wichita&S.W.,l8t,7s,g.,gua..l902 H12 112%
121%
do 2dM. (360), 7s, ’98.. J&J
Atlanta & Charlotte Air L—1st,7s. 120
do 2d guar.(188) 7s,’98. J&J
100% 101%
Income, 6s
81
81% Chic.& Atlantic—1st, 6s,1920.M&N
Atlantic & Pac.-1st 4b, 1937.. J&J
2d, 6s, 1923
W. D. Incomes, 1910
21% 22%
F&A
J&J
90
Chic. B.&Q—Cons.,78,1903..J&J
Central Division, old 6s
12
25
do
Bonds, 5s, 1895
incomes, 1922.
J&D
30
do
ace. Id. gr. 68.1901
A&O
5s. 1901
Baltimore & Ohio -New 4e
A&O 100
5s, debenture, 1913
M&N
108%
Iowa Div. 5s, 1919
5s gold, 1925
A&O
F&A 106
Iowa Div., 4s, 1919
A&O
Schuylkill Riv. East Side 5s, 1925 101
iii
4s, Denver Div., 1922
F&A
Sterling, 5s, 1927
J&D no9
111
4s, plain bonds, 1921
Sterling, 6s, 1895
M&8 {109
M&S
118
Neb.
Ext., 4s, 1927
M&N
Sterling mort., 6s, g., 1902.. M&S {116
126
do
Bur. & Mo. R., I’d M., 7s,’93.A&O
6e, g., 1910.M&N {124
Conv. 8s,’94 ser. J&J
do
ParkersburgBr., 6s, 1919...A&O 110
Balt.& Pot’c—1st, 6s, g., 1911 .J&J 1221a
Bur.& Mo.(Neb.), 1st,6s,1918. J&J
do
Cons, 6s, non-ex..J&J
1st, tunnel, 6s. g., g’d, 1911. A&O 120
do
Beech Creek—1st,g’la, 4s, 1936, J&J
4s, (Neb.), 1910... J&J
110
BeU’s Gap—Cons, 6s, 1913
do
Neb.RR,lst,7s,’96A&0
J&J
do
Om.& S.W.,lst,8s,J&D
Belvidere Del.—lst,6s,c.,1902.J&I> 116
Cons. 4s, 1927
Ill. Grand Tr., 1st. 8s. ’90...A&O
F&A 103
Boston & Albany—7s, 1892...F&A 1109 ir 110
Dixon Peo.&H., 1st,8s,1889.J&J
Ott. Osw. & Fox R., 8s, 1900. J&J
6s, 1895
J&J t 111% 1111*
Boat. Conc.&Mon.—S.F.,6s,’89.J&J tlOO
100%
Quincy& Wars’w, 1st, 8s,’90. J&J
Consol, mort., 7s, 1893
Atch’n & Neb.—1st, 7s,1907 M&S
A&O tl07% 109
Consol mort., 6s, 1893
Chic.
BurL & Nor.—5s, 1926
103%
tl<*3%
A&O
Bost.H.Tun.&W. deb. 5s, 1913 M&8
Debent. 6s, 1896
98i* 100%
...J&D
Boston & Lowell— 7s, ’92
A&O t10S% 109% Chic. & Can. So.—1st, 7s, 1902 A&C
111
Chic Kan. & West’u.—1st, 5s, 1926
6s, 1896
j&j tllO%
j&j tl08
97
M&S
M&N 100
J&J till it
j&j 112%
Boat. & Providence—7s, 1893.J&J Tl 13
Bost.& Revere B’k—1st,6s,’97. J&J till
Bradford Bord. & K.—1st, 6s, 1932
Bradf.Eld.& Cuba— lst.6s,1932J&J
20
Brooklyn Ele.—1st, 6s, 1923..A&O 105
2d mortg, 3-5s, 1915
85%
j&j
Bull. Brad.& P.—Gen.M.7s,’96.J&J
99
Buft.N.Y.&Erie—1st, 7s, 1916. J&D 135%
Buff.Roch. & Pittsb.—Gen.5s, 1937
98
90
£un.&Southwest.—6s, 1908.. J.&J
Bur. C. R.&N.—lst,5s,new,’06.J&D 102
Cons. 1st & col. tr., 5s, 1934.. A&O
88
Iowa C. & W., let, 7s, 1909.M&S
5s, 1899
4s, 1905
4%s, 1903
Boston & Maine—7s, 1893
7s, 1894
1st, 5s, 1921....A&O
Califor. Pac.—lstM.,4%s, g.. .J&J 100
2d M., 6s, g.,end C. Pac., ’91 .J&J 100
3d M. (guar. C. P.), 6s, 1905. J&J 103
^
N
..
do
3s* 1905.J&J
Cal. So.—let 6s (Atcli. guar.). .J&J
Income 6s, 1926
M&S
Camden & Atl.—1st, 7s, g.,'93..J&J
2d mort., 6s, 1904
A&O
Cons. 6s, 1911
j&j
Canada So.—1st M.,guar., 1908,J&J
2d mort., 5s, 1913
M&S
Cape Fear & Yad.Yal.,lst,6s,l916..
50
113
86
110
86%
106% 106%
90
97%
90%
98
Caroiina Cent.—ist,6s,g.,1920. J&J
2d, me., 6s, 1915
a&O
3d, inc., 6s, 1910
Catawisea-Mort., 7s, 1900....F&A 121
Cedar F.&Min.—1st, 7s, 1907. J&J
78
Cedar R. & Mo.-1st, 7s, ’91...F&A 1105
107
1st mort., 7s, 1916
M&N 131% 132
2d mort., 7s, 1909,
117
J&D tl 14
quar
Cent. Br. U. Pac., lets, 6s, ’95.M&N 104
Fund, coupon 7s, 1895
MAN 105
Atcli.& Pike’s Pk, 1st. 6s,
g. M&N 104
Atch.Col.&Pac.,lst,6sf1905Q.—F 1021*
Atch.J.Co.&W.,lst,6s,1905.0,—F
Cent, of Ga.—1st. cons., 7s, ’93. J&J
Collat’l trust 5s, 1937
M&N
Cent. Iowa—New 1st., 7s , ’99.J&J
Inc. bonds,“ debt certs.”, 7s,A&O
Eastern Div., 1st, 6s, 1912..A&O
Ills. Div., 1st, 6s, 1912
A&O
Cons., gold, 63, 1924..
J&D
Cent, RR. of N.J.—1st, 7s, ’90.F&A
Gen. mort., 5s, 1987
J&J
7s, conv., 1902
M&N
Consol. M., 7s, 1899
Q—J
Conv. deben. 6s, 1908
M&N
Am. Dk.& imp. Co., 5s,1921. J&J
Deh.&
Wilkesb.Coal,inc.,’88,M&N
Consol., 7s,gold,1900,ass’d.Q-M
Cent. Ohio—1st M.. 6s, 1890..M&S
Cent. Pac.—1st, 6s, gold, 1895 .J&J
1st, 6s, gold, 1896
1st, 6s, gold, 1897
1st, 6s, gold, 1898
J&J
J&J
J&J
S.Joaquin,lstM.,6s,g.l900.A&O
Cal. &
109%
100% 101
76% 80
12
1102
105%
tl08
t 95%
92%
87%
93%
1111%
i
1
1115%
1105
t 89%
till
tllS
105%
101
H26
1105%
1123
97%
20
93%
42%
117
95
96
113%
117
119%
123
101
125
20
So. Minn. 1st 6s, 1910
J&J
Chic. & Pac. Div. 6s, 1910 ...J&J
do
West Div., 5s,1921. J&J
Chic. & Mo. Riv. 5s, 1926....J&J
Mineral Pt. Div., 5s, 1910...J&J
Chic. & L. Sup. Div., 5s, 1921 J&J
Wis.&Minn. Div., 5s, 192L...J&J
Terminla 5s, 1914
J&J
Dubuque Div., 1st, 6s, 1920. J&J
Wis. Val. Div., 1st, 6s, 1920. J&J
Fargo & South.- 6s. ass. 1924. J&J
Inc. conv. sin. fund os, 1916 J&J
Dak. & Gt. So. 5s, 1916......J&J
Chicago & Northwestern-
Consol., 7s, 1915
Q—F
Consol., gold, 78, cp., 1902..J&D
Sinking fund, 6s, 1929
A&O
do
58,1929
A&O
do
debent., 5s, 1933.M&N
Exten. bds. 4s, 1886-1926...F&A
M&N
Escan.&L.Sup., 1st, 6s, 1901.J&J
Des M.&Minn’s,1st,7s,1907.F&A
Iowa
•
129
117
127
M., I. & D. Ext., 7s, 1908J&J
25-yrs. deb. 5s, 19o9
Mid., 1st M., 8s, 1900. A&O
Peninsula, 1st, couv.,7s,’98.M&S
Chic. & Mil., 1st M., 7s, ’98..J&J
Mil. & Mad., 1st, 6s, 1905..M.&S.
Madison Ext., 1st, 7s, 1911.A&O
Menominee Ext.,1st,7s,1911 J&D
North west.Un., 1st,7s, 1917.M&S
115
115%
113
115
Cin.Wash.&B.—lst,gu,4%s-6sM&N
Mort. 7s. 1907
M&S
Den. &R. G. 1st 7s,gold,1900.M&N
104%
99
100
100
101
102
1st con. 48,
102%
late transactions.
102
94%
125
130
107%
130
102%
76%
94
67
i‘04%
116
112
109
107
110
105
138
121%
77%
71
62%
102% Denv.S.P.&Pac.—1st,7s,1905 M&N
114% 115
102% 103
90
97
DesM.& Ft.D.—Guar.4s, 1905. J&J
1st mort., guar., 2%s, 1905
J&J
1st mort., guar. 4s, on extension.
80
Det.&B.C.lst,8s,en.M.C.1902M&N
J&J
105
93% Det. B. C. & Alp., 1st,6s,1913
111%
101
i’20
87%
103
*
140
77%
73
64
81
87%
55
106
118
118
Con. M., 5% till’84, after 656. .1918 {114
142%
130% 131% Det. L. & North.—1st, 7s, 1907.J&J 117% 118
Det. Mack.& M.—Ld. gr. 3%s, S. A.
35
120
107% 107% Dub. & Dak.—1st M., 6s, 1919.J&J
Dub.& S. City—lst,2d Div.,’94. J&J
111%
110%
Duluth & IrouR.—1st,5s,1937. A&O
94
89%
105
88%
l05% Duluth S. 8I1. & Atl.—5s,1937. J& J *8*6
Dunk.A. V.& P.—lst,7s,g..l900J&D 110
112
E.Tenn. Va.& Ga—1st, 7s,1900 J&J 121
122
Divisional, 5s, 1930
.J&J 110
iio
Ala. Cent., 1st, 6s, 1918
J&J
120
101% 101%
122
E. Tenn. V.&Ga.R’y.—1st,5s,1956.
60
112
East. & W. Ry., Ala.—1st, 6s, 1926
121%
1130
Eastern, Mass.—6s, g.,1906. .M&S 1121
96
97
1130
Elizab.Lex.& Big 8.—6s, 1902.M&S
1130
Elmira&W’mspt—1st t>s,1910.J&J 119%
Det.G.Haven&Mil.—Equip.6s,1918 {114
„
Un.& Logan8p.,l8t,7s, 1905.A&O 1114
1100
Cin. & Chic. A. L„ 1886-’90
Chi. S1.P.& K.C.-lst, g, 58,1936J&J : 97
i Purchaser also pays accrued interest.
1936
Denv.& Rio G.W.—1st,6s, 1911M&S
do
assented
.
.
.
—
.
.
A&O
58, perpetual
107
108
Erie & Pittsb.—2d, now
Cons, mort,, 7s, 1898
1st—J&J 102
...J&J f 110
133%
Equipment, 7s, 1900.
A&O tlOO
105% Eureka Spr.—1st, 6s,gold,1933F&A
Evans.& Ind.—1st, guar., g., 6s, 1924
1st, con., 1926
J&J 101
*107
Evans.& T.H.,lst con.,6s,1921,J&J 117
105
120
Mt. Vernon—1st, 6s
A&O
Evansv.T.H.&Clii.—1st, 6s, g.M&N 100
Fitchburg—5s, 1899
A&O tl02
104
100
A&O tl03 104
A&O tllO% 111%
110
A&O 1108
Marq.—M. 6s,1920.A&O 118% 119%
5s, 1900-01-02
6s, 1897
7s, 1894
2d M.7s,1904.M&N 1115
.
no
73
40
18
Cumberl. Val.—1st M.,8s,1904. A&O
Dayton & Mich.—Consol. 5s
J&J ti’02% 104 I
3d mort., 7s, 1888, now 2d.A&O 1100
101%
Flint & P.
Ft. Madison & N. W., 1st 7s,
99
122
124
120
do
96
105
2d, 6s, 1931...J&J
A&O
J&J
J&J
Georgia Pacific—1st, 6s, 1922. J&J
105
•
100
95
85
30
......
103
115
..._
_
*
72
Gal.Hous.& Hen.—1st,5s
120% Georgia—7s, 1883-90....
111%
6s, 1910
108
108
g.,1905
79% 80
Ft.Worth & Denv. C.—1st, 6s, 1921
120
Frem’t Elk’n& Mo.V.—6s,1933A&0 tll9
do
do
Unstamped.. 1117% 117%
Gal.Har.&SauAnt.—1st,6s,g. 1910. 103%
103%
2d mort., 7s, 1905
J&D
91
West. Div. 1st, 5s, 1931....M&N
'
nominal;
100%
......
....
Price
100%
100%
Dayt. & West.—lstM.,6s, 1905.J&J 1108
1st mort., 7s, 1905
J&J tl 14
102
Delaware—Mort., 68,guar.,’95. J&J 116
112% 112% Dol.& Bound B’k—1st, 7s,1905F&A 129%
Del.Lack.& W.- -Conv.7s,1892 J&D 110
120
112%
Oregon, senes B, 6s, 1892 100%
Cal.&Or. C.P.bonds, 6s,g. ,’92 J&J {107
109*‘ Chic.St.P.Min.&Om.—Con. 6s, 1930 121%
Ch.St.P.& Minn. lst,6s,1918M&N 124%
Ifmd grant-M., 6s, g., 1890. A&O 100%
North Wise., 1st 6s, 1930
Mortgage bonds, 6s, 1936...A&O 101%
J&J 124%
West. Pacif., 1st, 6s, g., ’99..J&J 112
St. Paul&S.City, 1st 6s,1919.A&0 122
Charl’te Col.&A— Cons.,7s,’95. J&J no
111
Chic. & Tornah.—6s
{116
2d mort., 7s, 1910
Chic.& W.Ind.—S.fd. 6s, 1919 M&N 114%
A&O in
Oheraw &Darl.—2d M., 7s
100
General mort., 6s, 1932
Q—M 115%
Ches. & Ohio—Pur. money fd.,189S 107
95
Chic. & W. Mich. 5s, 1921. ...J&D
Series A, 1908
Cin. Ham. &Dayt.—Consol.5s A&O 1
.A&O 105
M&N II 62% 65
6s,gold, series B....
Consol, mort., 7s, 1905......A&O t
Consol, mort., 6s, 1905
Reorg. com, certs
65% 66
A&O tlio%
Extended 4s, 1986
65
61
Cin. H. & I., 1st M., 7s, 1903.J&J tl04%
M&N
65
65% Cin. & Indianap., 1st., 7s,’92..J&D H07
Reorg. com. certs
2dM..7s, 1887-92
...J&J 1107
6s,currency, int. def..*1918..J&J 16
6s, 1911
A&O. 101
Indianapolis C. &L., 7sof’97.. .. tlll%
Cues. O.&S.W.—M. 5-6s, 1911.F&A 104%
Ind’apolis & Cin., 1st,7s,’88.A&O tlOl
2d mort., 6s, 1911
67
Cin. I. St. L. & Chic.—Con. 6s. 1920 tl05
F&A
1st gold 48.1936
Cheshire—6s, 1896-98
J&J tl05% 105%
Q—J 96%
Chic. & Alton—1st M., 7s, ’93. .J&J 113
92%
Cin.Jack.&Mac.—1st,5s,1936. J&D
85
i*26
Ciu.Van W. & Mich.
1st,6s, 1901
Sterling mort., 6s, g., 1903..J&J 1124
Bds. Kan. C. line,6s,g.,1903.M&N 124%
do
2d income, 6s, 1930
Cin. Laf.&Ch.—1st, 7s,g.,1901.M&S 1117
Miss.Riv.Bridge, 1st.,s.f.,6b,1912 104
100
Louis’a& Mo.R., lst,7s,1900F&A 119
Cin. Leb. & Nor.—1st m. 5s
.
♦
112
115
Cin.&Sp.—7s, C.C.C.& I., 1901. A&O 107%
7s, guar.; L.8.& M.8., 1901..A&O 114
•
125%
123%
113%
Winona&St.Pet.—2d7s,1907M&N 131
Ott. C. F. & St. P., 5s, 1909..M&S 106
102% 102%
124
123
North. His., 1st, 5s, 1910
M&S 104
116
116% Chic.R.I.& Pac.—6s,1917,coup J&J 132
Exten. & col. 5s, 1934
J&J 105%
102% 103%
106% 106%
Chic.&S.W.,lst,7s,guar.,’99.M&N
Chic. & St.Louis— 1st 6s, 1915,M&S 110
95
Chic. Santa Fe & Cal.—1st, 5s
{105
1121% 113
103% 103% Chic. St. L. &P.—1st, 5s, 1932. A&O
104
115
Chic. & Gt. East., 1st, 7s, 93-’95.
115
Col.& Ind. C., 1st M.,7s, 1904.J&J 1120
do
•
100
2d mort., 5s, 1931
72%
J&J
3d mort., gold, 3s-4s, 1931..F&A
38
132%
Income 5s, 1931
16
102%
106
Scioto & Hock. V, 1st, 7s....M&N
Balt. Short L., 1st, 7s, 1900..J&J
105%
110
Clearf. & Jeff.—1st, 6s, 1927 .J&J
Clev. Akron & Col.—lst,6s,1926J&J
96
93
Gen. M., g., 5s, 1927
M&S
88
Cleve. & Canton—1st, 5s. 1917
94
93% Clev. Col. Cin. & Ind.
112
1st M., 7s,1899
M&N 123
Consol, mort., 7s, 1914
J&D 128
il6
Cons. S. F., 7s, 1914
J&J
106
Gen. con. 6s, 1934
..J&J 110%
Belief.
&
Ind.
89%
M., 7s, 1899...J&J
113
Clev. & -Pitts.—4th M., 6s, 1892.J&J
120
Consol. 8. F., 7s, 1900
M&N 128%
106
Clev.&M. Val.—1st, 7s,g.,’93.F&A
102
Colorado Mid.—1st, 6s, 1936..J&D
126% Coeur d’Alene.—1st, 6s, 1916..M&S 100%
106
Columbia & Gr.—1st, 6s, 1916.J&J 101%
2d mort., 6s. 1926
123%
73%
A&O
98% Col. & Cin. Mid.—1st, 6s, 1914.J&J
99% Columbus Hocking Valley & T.—
30
Con. 5s, 1931
65%
M&S
Gen. 6s gold, 1904
93%
J&D
43
Col. &Hock.V.—lstM.,7s,’97. A&O ti‘09
do
2d M., 7s, 1892.J&J 1102
118%
Col. & Toledo—1st mort. bonds
tll4
do
+100
2d mort
94
Oliio&W.Va., lst,s.f.,7s,19xOM&N
Col. Springf.&C.—1st, 7s,1901.M&S 106
Col. & Rome.—1st, 6s, gu.Cent. Ga. 106
98
Col.&West.—1st, 6s. guar Cent. Ga. 108
Col. & Xenia—1st M., 7s,1890.M&S 1
Conn. &Passump.—M., 7s,’93.A&O till
119%
Massawippi, g., 6s, gold, ’89 J&J tlOO
Conn. West.—1st M., 7s, 1900. J&J
129
24%
114
Connecting (Phila.)—1st, 6s ..M&S 118%
Consol.RR.of Vt., 1st, 5s, 1913.J&J
87%
Cor. Cow. & Ant.—Deb.68, ’98M&N
Cumb. & Penn.—1st 6s,’91....M&S 101%
126
105% 106%
115
•
1108
tllO
tlOO
1100
Ask.
..
114
M.,6s, S’thwest Div.l909J&J
1st M., 5s. La C. & Dav. 1919J&J
114
•
45
i 105
La. C., 1st M., 78,1893
J&J
I. & M., 1st M., 7s, 1897
J&J
I’a. & Dak., 1st M., 7s, 1899. J&J
Hast. & Dak., 1st M.,7s, 1910. J&J
do
5s, 1910
J&J
Chic. & Mil., 1st M.,7s, 1903.J&J
1st mort., consol., 7s, 1905..J&J
1st
1st
•
132%
111% Ch.&Ind.CoalR’y,lst5s, 1936 J&J
65
Chic. & Mich. L. S. 1st 8s, 1889
40
Chic. Mil. & St. Paul—
P. du C. Div., 1st, 8s, 1898. F&A
86
P. D., 2d M., 7 3-10s, 1898..F&A
102
1st, $, gold, 7s, 1902
J&J
97%
Bid.
Cin. Rich. & Chic.—1st, 7s, ’95. J&J
Cin. Rich. & F. W.—1st, 7s, g.. .J&D
Cin. Sand’ky & Cl.—6s, 1900..F&A
Consol, mort., 7s, 1890
J&D
115
75
20
Income 6s
Chic. & Eastlll.—1st mort. 6s, 1907
Income bonds, 1907
1st. eon., 6s, gold, 1934
A&O
Gen. con., 1st, 5s, 1937
M&N
113% Chic. & Gr. Trunk—1st mort., 1900
C. Rap.I.F.& N.,1st,6s,1920.A&O
Railroad Bonds.
113%
113%
115%
109
98
102
112
113
137
100
Ask.
118
......
do
BONDS—Continued.
STOCKS AND
Explanations See Notes at Bead of First Page of Quotations.
Bid.
Railroad Bonds.
OF
[▼OL. XLVI.
109
47
2d mort
Gr.Rap. & Ind.—1st, l.g., g’d, 7s, g. tll7%
1st M.,78, l.g., gold,not guar. A&O 1115
1100
Ex land grant, 1st 7s, '99
Consol. 5s, 1924
M&S
Gr.B’yW.&St.P—lst,6s,1911.F.&A
2d, incomes, 1911
Julf Col. & S. Fe—1st,
78,1909 J&J
2d, 6s, gold, 1923
A&O
Han. & St. Jo.—Con. 6s,1911. .M&S
Harris. P. Mt, J. & L.—1st, 4s.. 1913
J In London.
|| Coupon 01.
111
107% 108%
52
......
T
97
103
32% 33
119
119%
94
117
......
§ In Amsterdam.
97%
118%
110
April 21,
THE
1888. J
U-ENBRAL
For
Railroad Bonds.
QUOTATION'S OP STOCKS AND
Explanations See Notes at Head of
Bid.
Ask.
505
CHRONICLE.
BONDS—Continued.
First Page of Quotations.
Bid.
Railroad Bonds.
Railroad Bonds.
Ask.
Bid.
Ask.
37*5
J36%
N.Y.Pa.& O.—1st, inc.,aco.7s,1905
Memphis & Charleston—(Cont’d) 108
do
prior lien,ino.ac.,5-6s,’95 tl06
1st oonsol. 7s, 1915
60
J&J 116'
6*3
7**
2d
mort.
Ino
120
1st, cons.. Tenn. lien, 7s, 1915 J&J
2%
3*4
105
3d mort. ino
112
Gold, 6s, 1924
J&J 103
89
111
Leased L. rental trust, per deb. 4s l 87
111
Metrop’n Elev.—1st, 6s, 1908, J&J
55
West. ext. oertifs, 8s, 1876..J&J i 50
105%
114
2d 6s, 1899
112
M&N
55
Waco & N. W., 1st, 7s,g.,1903. J&J
do
do
77
73
7s, guar. Erie J 50
108% Mexican Cent.—1st, 7s, 1911..J&J
100
Cons, mort., 8s, 1912
A&O
N.Y. Phil. & Nor.—1st, 1923 ..J&J
69*3 70
68
Scaled 4s, 1911
60
J&J
Gen. mort. 6s, 1921, Tr. rec.A&O
73
71
Income, 6s, 1933
A&O
Bond scrip
104
Hunt. & Br. Top—1st, 7s, '90..A&O 110
N.Y. Susq. & W.-Deb. 6s, ’97.F&A
20*3 21
Incomes,
1911
91*4 92*«
2d mort., 7s, g., 1895
F&A 100*3
102
100
1st
refund., 5s, 1937
J&J
Debenture 10s, 1890-95
A&O
Cons. 3d M. 5s, 1895
A&O
100
2d mort., 4*38, 1937
99
F&A
Scrip
10s.
J&J
1889
Illinois Cent.—1st Chi.&8pr.’98 J&J
Midl’d of N. J.—1st,6s, 1910.A&O
39% 40
107*3 Mexican Nat.—1st, 6s, 1912 ..A&O
J&J 94
1st, gold, 4s, 1951
99
luo*3 N. Y. Wood.& Rock 2d ino. 1912
95
New 1st mort. 6s
Gold. 3*38, 1951
J&J 111
Norf’k &W.—Gen’l M. ,68,1931 M&N
Mich. Cent.—Consol.,7s, 1902.M&N 129*4 130
Middle Div. reg. 5s, 1921... F&A
New River 1st 6s, 1932
A&O 114
Ill
Consol. 5s, 1902
M&N 110
1109
106
Sterling, 8. F., 5s, g., 1903..A&O
104
103%
Impr.
Exten.,
6s,
&
1934
F&A 105
113
1st M. on Air Line, 8s, 1890. J&J
108
Sterling, gen. M.,6s, g., 1895. A&O 1111
103
102
Adjustment
7s,
1924
Q.—M
113
Air Line, 1st M., 8s, guar.. .M&N
90
Sterling, 5s. 1905.
J&D til l
Conv. deb., 6s, 1894
J&J
6s, 1909
M&8
115
Cbic.St.&N.O.—1st eon. 7s, 1897. 118%
Norf’k & Petersb., 2d, 8s, ’93. J&J 112
111
5s, coup., 1931
M&8 102 103
104
J&D 119*3
2d, 6s, 1907
So.
Va.,
5-6-8s,’89-1900
Side,
ext.
Kalamazoo&8.H.,lst,8s,’90.M&N
104
Ten. lien, 7s, 1897.
M&N 118*3 118
do
2d M.,ext.5-6s,’89-1900 102
J.L.&8ag.NorthExt.,8s,’90.M&N
J&D 107*3
5s, 1951, gold
110
do
3d M.. 6s, ’96-1900. J&J 105
109
do
Cons.l8tM.,88,’91.M&S
123
Ind. Bl. & W .—1st, pf., 7e, 1900J&J
Va.& Tenn., 4th M., 8s, 1900.J&J
88
do
68,1891
M&8 101
1st mort., 5-6, 1909,Tr. rec.A&O
do
extended 5s,1900. J&J 103
Joliet
& N.Ind.,1st,7s (guar.M.C.) 115
2d mort., 5-6,1909, Tr. rec.A&O
North Penn.—1st,7s, 1896
M&N 119 120
Mich. & Ohio—1st, 6s, 1923 ..M&N
16*3 20
Income, 1921, Tr. roc
101
98
Gen. mort., 7s, 1903
J&J 127*3
80
Midd. Un. & Wat. Gap—1st mort..
East.Div., 6s,1921,Tr. reo... J&D
80
New loan, 6s, reg., 1905
75
M&S
103*3
2d
mort.
5s,
N.Y.
8.
&
W...
quar.
Ind.Deo. &Sp.—1st, 7s, 1906.A&O II100
121
Northeast.,8.C.—1st M.,8s,’99,M&S 126
Mil.L.Sh.&West.—Ist6s, 1921 .M&N 120*4
2d mort., 5s, 1911
J&J
89
2d mort., 8s, 1899
M&S 123
20
Conv. deb. 5s, 1907..
F&A
114
2d, income, 1906,Tr Co. cert.J&J
112
Northern,
6s,
Cal.—1st,
1907..J&J
Mich. Div., 1st, 6s, 1924
J&J
New 1st mort. 6s, funded
108%
Northern
Cent.—4*3
per
cent..J&J
1112
Ashland Div., 1st 6s, 1925..M&S *
118
Ind’polis& St.L.—1st,7s, 1919.Var. 115
104
3d mort., 6s, 1900
A&O
120
1st, incomes
Ind’apolis&Vin.—1st, 7s,1908.F&A 102
98
Con. mort., 6s, g.,coup., 1900. J&J 121
104*3
St. P. E. &Gr. Tr’k, 1st, guar., 6s.
110
2d mort.. 6s, g., guar., 1900.M&N
110*4
109
Mort. bds., 5s, 1926, seriesA J&J
104
103
Mil. & No—1st, 68,1910
J&D
Int. & Gt.Nortli.—1st,6s,1919.M&N
108
series
107
do
B
67
63
1st,
6s,
on extension 1913..J&D
1109
112
Coup. 6s, 1909
M&8 1102 *3 104
104
Con. mort, stg. 6s, g., 1904...J&J
Minn’p. & St. L.—1st M. 1927. J&D
tlOO
Ionia & Lansing—1st 8s, ’89. ..J&J
90
Northern, N.J.—1st M.,6s,’88.J&J
1st M., Iowa City&W 1909.J&D
Iowa City& West,—lst,7s,1909M&8
100
North. Pac., P. D’O Div.—6s, M&S.
fiiu‘% 132
2d mort., 7s, 1891
J&J
I’a Falls & 8. C—1st,7s,1917. A&O
Mo. Div. 6s, 1919
M&N
101
Southwest.
Ext.,
J&D
1st,7s,1910.
Jefferson—1st mort., 7s, 1889. J&J
118*8
Gen’l 1. g., 1st, 6s, 1921
J&J
115
ill4
Pacific Ext., 1st, 6s, 1921.. A&O
Jefl. Mad.& Ind.—1st, 7s,1906. A&O
52
Gen. land gr.,2d. 6s, 1933...A&O 103*3 104*«
120
f
110
Imp.
Equip.
&
6s, 1922
J&J
91% 92
2d mort., 7s, 1910
J&J
102
Gen. land gr., 3d, 6s, 1937...J&D
Minn’p. & Pac., 1st, 5s, 1936..J&J uoo
Junction (Phil.)—1st,4*38.1907 J&J
96
92
Dividend scrip ext
J&J
"go"
Minn.
S. Ste. M. & Atl.-lst,5s,1926 ; 90
*104* 108
Kanawha & O.—1st ds. 1936 J.&J
James Riv.Val.— lst,g.,6s,’36J&J
97
95
Minn. & N. W.—1st, 5s, 1934.. J&J 100*3
Kan. C. Clint’n & Springfield—Is,5s
105
Spokane & Pal.,1st 6s, 1936.M&N
1 115*s 116
Miss.&Tenn.—1st M., 8s,series “A”
K.C.Ft.Scott& G.—1st,7s,1908 J&D
116*8
110
St.P.&Nor.Pac. gen.6s,1923.F&A
118
f 115
8s, series “ B”
J&J
Pleas. Hill & De Soto, 1st, 7s, 1907
IIelena& Red Mt.lst,6s,1937M&S
95
97%
113
Mo.K. &T.—Cons. 7s-. 1904-6..F&A
Kansas C. Lawr. & So. 1st, 6s. 1909 1112*3
100
Dul. & Man., 1st, 6s, 1936. ..J&J
60*s 62
J&D
Consolidated 6s. 1920
92*3 93
Kan. C. M. & B.- 1st, 5s, 1927.M&S
55
Dak. Div., 1st, s.f. 6s, 1937.J&D
52
75
70
Consolidated 5s, 1920
J&D
Kan.C.&Omaha—1st,5s, 1927 J&J.
Hel. B. Val. & B.,lst,6s,1937M&N
121
I 120
2d mort., income, 6s, 1911..A&O
K.C.St.Jos.& C.B.—M.7s,1907. J&J
Drum. & Pet., 1st, 5s, 1937..J&D
112*3 113
1st, 6s. g., 1899. (U. P. S. Br.)J&J
93
107
Helena&N’rtli.—l8t.5s.l 937. J&D
1923.M&N
70
Han.
&
C.
69%
Mo.,
1st
7s,
g.,’90.M&N
Ken. Cent, Ry.—Gold 4s, 1987. J&J
La. M.&Mo. R., 1st,5s,1937..J&D
101% 102*4'
104
Mo.Pac.—1st
104%
mort.,68,gld,’88,
F&A
L
Keokuk&Des M.—lst,5s,guar. A&O
112
North. Pac. Ter. Co. —1st,6s,’33. J&J 10
95
Consol. 68, 1920
M&N 111
Knoxv. & Ohio 1st, 6s, 1925...J&J
114
109
106
Norw’h&Worc’r—1st M.. 6s.’97. J&J 112
|
105
2d
1891
mort.,
7s,
J&J
1101
LakeE.& West.—lst,g.,5s,1937J&J
102
Ogd’nsb’g&L.Ch.—1st
M.6s,’97,
J&J
Car.
’93..A&O
B.,
1st
mort.,
6s,
g.
Laae Shore & Mich. So.—
Sinking fund, 8s, 1890
M&8 1103 104*8
Il8*3|
3d
1101$
mortgage,
7s,
1906
M&N
98
Cl. P. & Ash.,new 7s, 1892..A&O
100
102*4
Consol. ,68,1920
A&O 33
120
Verd.V.Ind.& W.,lst,5s,1926M&S
35
Bufl.&E., new bds, M.,7s,’98. A&O
3s
Income,
&
6sl920
Leroy & C. Val., 1st,5s, 1926.J&J *96
Butt & State L., 7s, 1886....J&J
98
| Ohio & Miss.—Cons.,s.fd.7s,’98 J&J 115*«
127*’
130
Mobile
&
Birm.—1st.
5s,
1937
Det.Mon.& Tol.,1st,7s,1906.F&A
1 Cons, mort., 7s, ’98
50
47
J&J 116 ii*6%
Mobile & Onio.—1st pref. deb
Kalamazoo Al.&Gr.R.,1st,8s. J&J
117
117*a
29
28
2d
j
mort.,
7s,
1911
A&O
107
2d pref. debentures
Kal.& Wh. Pigeon,fcrt. 7s,’90.. J&J 104*3
89
95
26
24
1st
5s,
1932
J&D
gen
,
3d pref. debentures
Dividend bonds, 7s, 1899...A&O 120*4 121*4
109%
24
22
1st
mort..Springf.Div.,
1905
M&N
127
4th pref. debentures
98
S.,cons.,cp., 1st,7s.J&J 125*4
115 1 Ohio River RR.—1st. 5s, 1936.J&D
New mortgage, 6s, 1927
J&D 112
do cons.,reg.,1st,7s,1900.Q—J 123% 124*3
105
Ohio Southern—1st 6s, 1921...J&D
124*3
Collateral trust 6s, 1892
J&J 102
do cons., cp., 2d,7s, 1903..J&D 124
36% 37
2d income, 6s, 1921
1st extension 6s, 1927
Q—J
do cons.,reg.,2d, 78,1903.J&D 123%
112
72
Old Colony—6s, 1897
F&A flll%
103
St.L.&
Cairo—4s,
1931.J&J
guar.,
Mahoning Coal RR. 1st, 5s..J&J
107*s
6s, 1895
J&D 1110 111
Morg’n’sLa.&Tex.,lst,6s,1920J&J
Lawrence—1st mort., 7s,1895.F&A
122
7s, 1894
M&S f 114 114%
iio 120
1st mort., 7s, 1918
A&O 118
Lehigh Val.—1st,6s,coup.,’98. J&D
144
4*39, 1904
A&O f 103 106
138*3
Morris
Essex—1st,
7s,
1914
M&N
&
2d mort., 7s, 1910
M&S 130
Bost.C.&Fitchb.,lst,7s,’89-90J&J 1103 105
2d mort, 7s, 1891
F&A 109 109*3
Gen. M., s. f., 6s, g.,1923
J&D
113
B. C. F. & N. B., 5s, 1910 ..J&J tllO
118
110
Bonds, 7s, 1900
J&J 124% 125*3
Li. Miami—Renewal 5s,1912..M&N
114
N. Bedford RR., 7s, 1894 ..J&J fill
108
107
General mort., 7s, 1901
A&O
Ft.S.—lstj.gr.,7s ’95. J&J
71
73
Omaha & St. L.—1st, 4s, 1937..J&J
Consol, mort.,7s, 1915
J&D 135*s 137
Long Island—1st M.. 7s, 1898.M&N 121*3
107
106
Belt—1st
6s,
1907...
Orange
mort.,
112
Nashua & Lowell—6s, g., ’93.F&A
1st consol. 58,1931
Q—J
104*3 106
Oreg.&Cal.—1st 5s, 1927
J&J
5s, 1900
Newtown & FI., 1st, 7s, 1891
95% 96
Oregon& Transcont.—6s,1922M&N
Nashv.Ch.& St.L.—1st, 7s,1913 J&J 130
N.Y.& Man. Beach, 1st 7s,’97,J&J
109
Osw.&Rome—IstM., 7s, 1915.M&N f 122
J&J 106
2d mort., 6s, 1901
N. Y. B. & M. B.,lst con. 5s, 1935
108“
Panamar—Sterl’gM., 7s, g. ’97.A&O J106
115
Nashv.& Decatur—1st,7s,1900. J&J
Lou’v.C.& Lex.—1st,7s,’97 J&J(ex) 114
Sinking fund sub., 6s, 1910.M&N
119
118
Natchez
Jack.
&
Col.—1st,
7s,
1910
2d mort., 7s, 1907
A&O
tlOl
103
ioi
Subsidy bonds, Eng. issue, 6s
104
New’kS’set&S.—1st. 7s, g.,’89.M&N
Ix)u’v.Ev.& St.L—lst.6s,1926. A&O 103
130
102*3 103*3 Penn.RR.—Gen.M,6s,cp.,1910Q—J 128
57
56
N.
J.
Junction,
1st,
4s,
1986..F&A
2d mort., 2-6s, 1936
121
A&O
Cons, inort., 6s, 1905
100
Q—M
118
117
&
6s,
N.
J.
N.Y.—1st,
1910...M&N
Louis. & Nash.—Cons. 1st, 7s, 1898.
Collateral trust, 4*38, 1913..J&D 109*3
106*3 N. J. Southern—1st M.,new 6s. J&J 100
Cecilian Br., 7s, 1907
M&S 103
105
Consol. 5s, 1919
99
J&D 111
N. O. & Gulf—1st, 6s, 1926..M&N
Leb.-Knoxv. 6s, 1931
M&S
107% 108%
Penn. Co., 6s, reg., 1907
Q.—J
N. O. & Northeast.—Prior 1.6s. 1915
Louis. Cin. & Lex., 6s, 1931.M&N 108*3
1st M.,4%8, 1921.J&J 107
do
119
1117
124
(122
N.Y & Can.-£M.,6s,g.,1904.M&N
Mem.& 0.,stl., M.,7s, g.,1901J&D
Penn.& N.Y.Can.— 1st. 7s, ’96. J&D
117
N.Y.C.& Hud.Riv.—Ext’d 5s. M&N 105%
F&A 1115
1st mort., 7s, 1906
J&D
Mort., 7s, coup., 1903
J&J 134 134*3
N. O. & Mobile. 1st 6s, 1930. J&J 115
108% 109% Pensacola & Atlantic-1st m..F&A
98
Debenture
5s,
1904
M&S
do
1930....J&J
2d, 6s,
109
126
Peo. Dec. & Ev.—1st, 6s, 19.20.J&J 106
Sterling mort., 6s, g., 1903... J&J 1124
Pensacola Div., 1st,6s,1920..M&S 101*8
72
2d mortgage, 5s, 1927
72%
89%
89*4
116
N.Y.Chic.&
St.L.—New
1st,4s,
1937
8t. Louis Div.. 1st, 6s, 1921..M&S
104
Evansville Div.,1st 6s,1920.M&8
114*3
N.
Y.
Elevated.—1st
M.,
57%
1906.
J&J
do
2d., 3s„1980.M&S
110
Peo.& Pekin Un—1st,6s,1921.Q—F
25
N. Y. & Greenw’d L.—1st M. ino. 6s
Rash. & Dec., 1st 7s, 1900.. .J&J 117
70
8
2d mort 4*«s, 1921
Q—F
5
117
116
2d
mortgage income
E. H. & N., 1st 6s, 1919
J&D
105
130% 131*3 Perkiomen—Cons.6s„1913, sterling i 95
114*3
N.Y.&Harlem—7s,coup.,1900.M&N
113%
Gen’l mort., 6s, 1930
J&D
130
Petersburg -Class A, 1926
J&J 105
N.Y. Lack.& W.—1st, 6s, 1921. J&J 129%
Bo. & No. Ala., 8. F. 6s, 1910 A&O 106
106
106*8
Class B, L926
110%
A&O
108*3
109
108*4
2nd, 5s, guar., 1923
F&A
Trupt bonds, 6s, 1922
Q—M
Phila. & Erie—1st M.,7s, 1888. J&J 102*4
103%
Lake
N. Y.
Erie & Western—
Ten-forty 6s. 1924
M&N 102%
129**
Gen. M.. guar., 6s, g., 1920. .J&J U27
102*3
1st mort, 7s, 1897, ext
M&N 121
110% 111
50-year gold, 5s, 1937
M&N 101
Consol.
5s,
1920
A&O
112
90
91*3
2d mort. exten., 5s, 1919 ...M&S
Pensa. & Atl.—1st,6s,gu,’21.F&A
Phila. & Read’g—1st, 6s, 1910.J&J 122
110
3d mort. ex. 4*38, 1923......M&S 106
L’sv.N.A.&Chic.—1st,6s,1910. J&J 109
114
113
2d, 7s, ’93
A&O 109% 110%
4th mort., ext., 5s, 1920.. ..A&O
90
Con. mort. 6s, 1916
A&O
70
Debenture 6s, 1893
J&J
103*4
102%
5th mort., 7s, 1888
86
J&D
Lo’isv.N.O.&Tex.—lst,4s,1934M&8
134*3
Consol.M.,7s,1911, reg.& cp. J&D 130
134
40
cons. M., 7s, g.,1920
1st
M&8
2d mort., 5s, 1934
120
M&8
125
Consol, mort., 6s, 1911
J&D
97
118
New 2d cons. 6s, 1969
J&D
Maine Cent.—Mort. 7s, 1898... J&J 116
Improvement mort., 6s, ’97. A&O
110
Collateral Tr. 6s, 1922
M&N 106*3 108
Exten. bonds, 6s, g., 1900...A&O f 108
90
GenTmort., 6s, 1908
J&J 1123Q
85
Fund. 5s, 1969
J&D
Cons. 7s, 1912
A&O f 130 132
131
Gen’l mort., 7s, 1908
J&J 114*3 115%
104
1st
cons,
fund
coup.,7s,1920
M&S
1103
Androscog. & Ken., 6s
Convertible, 7s, 1893
.^.J&J
111
Reorganizat’n 1st lien, 6s, 1908
Leeds & Farm’gt’n. 6s, 1896.J&J tl09
Cons. 5s, 1st series
M&N 96*4 97
*5*0
111
Gold
income
bonds,
6s,
1977....
f
109
Portl. & K.,Cons. M., 6s, ’95. A&O
114
Cons. 5s, 2d series
F&A 72
113
107
106
Long Dook mort., 7s, 1893..J&D
..F&A
Debenture, 6s, 10-20
100
115*3
Sorip for 6 deferred *a coupons .. 190
86
do
con.
g.,
6s,
1935
..A&O
Man.Beach Imp. Jim.,7s, 1909,M&S
Con. adj. scrip
104%
95
N.Y.
A&O
&
North.—1st
g.5s,1927.
Marietta Min.—1st, 6e, 1915.M&N t
20
Deferred income
50% 55
111
2d gold is, 1927
J&D 107
Marq’tte Ho.& O.—Mai.a O.,8s, ’92 110
80%
Income mort., cons. 7s, ’96, J&D
102
N.
N.
H.
H.lst
4s,1903.J&D
100
Y.
&
r.
6s, 1908...
75
Coal& I., guar.,7s,’92,ex-cp.M&S
98
N. Y.Ont.& W.—1st, g., 6s, 1914 M&3 110%
68,1923 (extension)
J&D 97
121*3 Phila. Wil. & Balt.—6s, 1892..A&O 102*2 104
96
95
N.Y.&.N.Eng—1st M., 7s, 1905J&J 121
6s, 1925 (Mary. & West).. J&D
114
113
6s, 1900
A&O f 105 107
95
1st M., 6s, 1905
91
J&J
Memphis & L. Rock—1st, 8s, 1907
102
5s,
1910
J&D fl03 105
101*3
126
2d m.,68,1902
F&A
Memph.& Chari.—1st,7s, 1915.J&J 121
Trust certs., 4s, 1921
91
J&J 99% 100
90
126
2d
6s
121
(scaled
to
3s)
F&A
2d mort., 7s, extended
J&J
K.LCR.SoBcp&krM&Mem—1st,6
West.—5a..—1903
Ho’st.E.&W. Tex.—lst,7s,’98.M&N
J&J
2d, 6s, 1913
H.& Tex.Cen—1st m.,7s,guar,1891
West. DIv., 1st, 7s, g., 1891.. J&J
Hart. & Conn.
M.&Clarksv,t’g61902
99%
,
......
•mmmwn
.
-
......
.....
......
‘
.
......
•
■
•
•
•••#••
.
......
••••*-
•
♦Price nominal; no wte transactions.
1 Purchaser also pays
accrued interest.
Jin London
U Coupon off. c. In Frankfort.
THE CHRONICLE.
503
QUOTATIONS OP STOCKS
GENERAL
AND BONDS—Continued.
Railroad Bonds
Ask.
Bid.
Railroad bonds.
Bid.
Ask.
00
64
78
ITexas A Pac —(Continued)—
120%
107*3
118% 118*3
119
2d rnort., 7s,
73
108
105
IOO
35
143
mort., Os, 1S99
Ren. AS’toga—1 at 7s, 1921 cou.MAN
Rick’d A Allegh—1st, 7s, trust, rcc.
Income
•
•
•
•
55
103%
113*2 114*3.
101
Rich. & Petcrsb., Os, 1915
I
.New mort., 7s, 1915
MAN
Richmond York Riv. & dies., 8s..
.......
112*2
101
87
110
Booh. & Pitts.. iat~ Os, 1921... FA A
Consol. 1st, Os, 1922
JA.
do
income, 1921
Rome A Carrollt.—1st, Os, g., 191
Rome A Dee.—1st., 6s, 1926... JA!
Consol., 1st ex. 5s, 1922
Rutland—1st M., Os, 1902
1
79
125
110
gold, fs, 1930
j
Rich.Fred.A Pot.~M.7s, '81-90
Con.
i
|
i 0*5
i 90*.
50|£.
88
2d, 4-6s, 1921...... ...-.-..MAI
3d, income, 7s, 1921
Vicksb. Sh. A Pac. Prior lien, 6s.
101*4
101
35
......
112*3
•
•
•
•
94
40
5
.
....
HOT
108
3d series, 5-6s,
!
40
Chicago A Canada Southern
j
11 %
41 %
Chicago A East. Illinois
—100 00%
91
do
:
pref.... 100.
6
4
i
Chicago A Grand Trunk
Chicago A Ind. Coal Railway.. 1001
To'*
do
do
pref.. ICO
7 Hr
7 1
Chicago Milwaukee A St. Paul.lOoj 110*2 L12
do
pref.,
109
117
116
115
110*3
31
115
|
!......
.
1045s
08
1
......
98*1.4
78
81*4
5s,1931AAO
Bt.I.A San Fr.—2d cl. A ,1900..MAN 1165b 118
2d M., class B, 1906
MAN 116h3
2d M., class C, 1906
MAN 116*3
102*4
South Pacific.—1st M, 1888 .JAJ 102
101
97
Kan.O. ASw., 1st,6s,g.,1916..
Pierre C. A O. 1st, 6s
FAA 105
Equipment 7s. 1895
JAD 107
Gen. con. r’y A 1. g.,
......
eo
44
35
86
Gen., Os, 1920, Tr. reo
JAD
Chic. Div., 5s, 1910 Tr. rcc.. JAJ
Havana Div., 6s, 1910
JAJ
Indianap. Div., Os, 1921
JAD
Detroit Div..6s, 1921 Tr. rec.JAJ
Cons, mort.,'7s;1907, convert.Q—F
1st, St. L. div., Vs, 1889
FAA
Gt. West., Ill.,1st, 7e, ’88
FAA
do
2d, 7s,’93....MAN
116
103
c
e
114
95
108
109*s
114
118*3
116
11134
82*o
Cent.—1st, Os, 1937JAJ
SanduskyMansf.AN.—1st, 7s,1902
Sav. FI. A W.—1st, Os, 1934..AAO
At. A Gulf, eon. 7s, '97
JAJ
So. Ga. A Fla.—1st, 7s, 1899
2d, 7U, H99
MAN
Seaboard A Roan.—Os, 1916.. FAA
1926
JAJ
Scioto Val.—1st, 7s. sink’g fd..JAJ
2d mort., 7s, sink’g fd—.. .AAO
•
97*4
58, coup.,
•
-
•
•
.
.
92
110
106
115
ICO
85
105% 108
106*3 107*«
Q’ncv A Tol., 1st, 7s,’90.. ..MAN
.
116
114
Shreve. A Hons.—1st. Os. gu., 1914
Bioax C. A Pac., 1st M., Os,’98.JAJ
Bodus BayA So.—1st, 5s, g., 1924JAJ
Bo. Carolina—1st INI.,0s,1920.. A AO
2d mort., Os, 1931
JAJ
Income Os, 1931
Bo. Cen. (N.Y.)—Consol, mort., 5s..
Bouth. Kansas—1st, 5s. 1926..MAS
Texas Div., 1st, fs, 1926
MAS
Income, Os
SoPac,Cal.—1st, 6s, g.,1905-12 AAO
So. Pac.,Ariz.—1st,6s,1909-10.JAJ
So. Pac.. N. M.—1st, 6s, 1911 .JAJ
Staten Isl. Rapid Trans.—1st mort.
Steuben. A ind., 1st 6s, 1914..JAJ
Stock. A Cop.—1st, 5s. 1905. ..JAJ
Summit Br.—1st, 7s, 1903
JAJ
Sunb.Haz.AW-B.—lst,5e,1928MAN
2d mort., 6s, 1938
MAN
Buep.B. AErie June.—1st M.,7s
Syr.Bing.AN.Y.—consoles,’06A AO
Tex. Cent.—1st,ek.fd.,7s,1909MAN
1st mort., 7s, 1911
MAN
Texae& New Orleans—1st,7s.FAA
Sabine Div., 1st, 6s, 1912...MAS
Tex.&Pac.—l8tM..6s,g.,1905.MAS
Cons. M.,6s, g. 1905.tr. rec. JAD.
Inc. and land gr., reg., 1915. July
KioGr. Div., 6s, 1930, Trust rec.
*
Price nominal,
......
1
08
Wilra. Columbia A Augusta, Os
Wil.A Weldon—8. F., 7s, g., ’96. JAJ
Wisconsin Cent.—new 1st, 5s
Incomes, non-eum., 5s
71
80
105
32
05
106
70
108
Nash. A Rocli.. guar.. 5s. ’94. A AO
RAILROAD STOCKS.
102*3
do
Atlanta A Charlotte Air Line ..10o
Atlantic A Pacific
lOo
97
91*3! Augusta A Savannah,leased... 100
100
93*s ; Baltimore A Ohio
do
1st pref., 6
.1
100
do
2d, pref
107*4!
100
Parkersburg Branch
107
i
iV4*"j
103%1
103*'
j
50
do
pref.
Bell’s Gap
Belleville A So. Ill., pref
i*
Boston A
100
Albany
50
50
1( 0
100
100
! |Boat. Con. A Montreal
do
Pref., 5.^100
| !Boston Hoosac
Tun. A Western
99
116
132
Lowell
100
40
45
100
I
Maine
114
116
Boston A N. Y. Air-Line, pref.. 100
102
I-.100
! Boston A Providence
110
106
i Boston Revere Beach A Lynn.. 100
1 Brooklyn Elevated., new
100
104
48*3 48% Brooklyn A Montauk
100
......
68*4
SO
68
Boston A
Boston A
3
do
t Purchaser also pays accrued interest.
Pref
; In London
10)
143
51
lOOj
Indianapolis-.100'
Cleveland & Canton
do
do
Pref..
Clev. A Pittsburgh, guar., 7
50
Ccour d’Alene
Columbus A Xenia, guar., 8
50 j
Col. Hock. Val. A Tol
100
Columbia & Greenville,pref....10(M
Concord
50 j
Concord A Portsmouth,guar.,7 1001
Connecticut A Passumpsic
100!
Connecticut River
3 00 i
Danbury A Norwalk
Dayton A Michigan, guar.,
50;
.
3*2..50! ;v-”Tw
do
Pref., guar., 8.50j
Delaware A Bound Brook
100!
Delaware Lack. A Western
50|
Denv. A Rio Gr.
100!!
do
do
pref. 100;j
ver A Rio Grande Western, loo
Des Moines A Fort Dodge
100
do
Pref..TOO
do
Det. Lansing A Northern, com .10u
do
Pref.lOu
do
17*2
48
8
8
18
50
95
75
5
24
* 7T
Lrlt>*3
48*3
11
10
...
60
95*£.
10
26
,
!
Elmira A
Williamsport, 5
do
Pref.,
Evansville A Terre Haute
%
155
50;
7..50j
44
04
fcO
83
100.
92
41
4l*£r.
50!
Fitchburg. Pref
.lOo;
89% 89*3! Flint A Pere Marquette
do
Pref... loO j 106
do
80*3 83 j
*8
Florida
R’y A Nav. Co
8 *8
8%
*4
do
133
pref
I
132
34
loo*
101
100
j Fort Worm 61 Denver C
j Galv. Harrisb. A San Antouio
123
j
j
iio i Georgia Pacific.:
j 'Georgia Railroad A Bank’g Co. 100
2*3
15
j
193
5
1 Grand Rapids A Indiana
9*4
i
Green Bay Winona A St. Puul.-lOo
14
Pref
do
do
100
45*3
5
12
1 Houston A Texas Cent ral ......loo
75
£ 14
107
Huntingdon A Broad Top
196
Pref... 50 * 37
do
do
i
100 no
104% 105 ! Illinois Central
05
do
Leased line, 4 p. c. 100
25
11
lo9 ! Indiana Bloom. A West..ass. pd.loo
158
TO
Jett’v. Mad. A Iud’p’s,leaseu..lOO
21513 216
1
Kauawha A Ohio
9S
97
8
do
1st pref
2c 0
x :28
3
2d pref
do
155
158
80
Kan. City Ft. Scott dt Gulf .....100
38
34
do
do
Pref. 100 13/
40
44
City Mem. A Birin.. ...Lou
K
Kius.
30
0
U Coupon o
15*£:
|
Pref
......:
10
9*3
EastTenn. Va. A Ga. Ry
90
100
61
58
do
do ‘
1st pref.. 100
40
21
20
do
do
2d pref.. .100
125
East Pennsylvania
50 y 5 L
105
20
East A West, Alabama
104
12 3ha 124
1 28*£8
1
do
Pref
100 128
loS
100 107
11*3 Eastern in N. H
20
3*21 Elizabeth Lex. A Big Sandy
10oj 12
1 *3
*4
def... t
Albany A Susqueb., Guar., 7...100
:
50
Allegheny Valley
Atchison Topeka A Santa Fe..l00
| Beech Creek
1110
103
Par.
do
......
39 %
South.—Lira., A., Os,prel'.. ; 11
1
3
Dim., B, com
r
1
Ala. N. O. A Pac., Ac., pref
101
77
83
12*3 16
50
55
98
112
89*2
! Ala. Gt.
ibo“
96*3
91*4
118
124%
(
88
SO
15
50
do
iWis. Valley—1st,7s, 1909......JAJ
Woro’r A Nashua—5s, ’93-’9£>.. VTar.
_j
49*3
94*4 96*2j
101*3 104
1 Duluth So. SU. A Atl
121
Wheeling A L. Erie— 1st,5s,... 1920
Wichita A Western—1st, Os
JAJ
93
--Consol. 7s, 1910
JAJ II «0
Sham.-Sun.A Lew.—1st, 5s,’12MAN 100
Bham.-V.A Pott?.—7s, con. 1901 JAJ
Shenandoan Val. -lst.Ts, 1909.JAJ
General mort., 6s, 1921
AAO
ib‘2%1
Cleveland Akron A Col
Clev. Col. Cin. A
74
55
70
Cin. Indianap. St. Louis A Chic. 100
Cincinnati N. O. A Tex. Pac.... 100
Cin. Sandusky A Cleveland
50
do
Pref., 6.50
Cincinnati A Springfield
Cin. Washington A Balt
100
do
pref.. 100
HI.A S.Ia.,lst, 6s, 1912
FAA
116
St.L.K.C. AN. (r.est.AR.),7s.MAS io*7
116*3
1
do
104
Om.Div.,Ist7s,1919.AAO
do Clar. Br., 6s, 1919.. FAA
98
do No. Mo., 1st, 1895...JAJ 114
105
106
do St. Cha’s Bridge 6s, 1908
107*3
Wab. Fund, 1907-Var. 7s. FAA
112*3!
Hi
1 Warren (N.J.)—2d,7s, 1900 ..AAO
1 West Chester—Con. 7 s, 1891.. A AO 107
W. Jersey A At. 1st M.,6sl910MA8 105
I West Jersey—1st, Os, 1896
JAJ
|
1
1st mort., 7s, 1899
AAO 12*6
1
Consol, mort., Os, 1909
AAO 119
West Shore—Guar. 4s
JAJ 102*3
...1
West’n Ala.—1st M., 8s, ’88.. .AAO 102
120
2d mort., 8s, guar., ’90
AAO 106
97
West.Maryl’d—3d en.,6s, 1900.JAJ 120
95
100
West.N. Y. A Penn— lst.ns.1937JAJ
!'
35*3
83
2d m., 3s g—5s sc 1927
AAO
HO
109
;
Warren A Frank., 1st,7s,’90 FAA
111
90%! W’nNo.Oarolina— lst,7s,1890.MAN 105
86
83
Consol. Os, 1911
JAJ
92*3*
West’uPeim.—1st M., Os, ’93.. A AO 105
Pitts. Br., 1st M.. Os, ’96
JAJ llO
117
117
115
37% 37%,
106% 107
35
33
75
72
Pref.. 100
do
33
31 *3
1001
1001
Chicago & West Michigan
Cin. Hamilton & Dayton
86*4
.....
General mort.. 6s, 1031
JAJ
General mort., 5s. 1931
JAJ
1st trust, g.. 5s, 1987
AAO
Ft.S.A V.B.Bd.,lst,6s, 1910.AAO
St.L.K.ASo.W. -1st 6s, 1916MAS
142 *3
142
Chic. St. Louis A Pitts
100!
do
1001
pref
Chic. 8t. P. Minn. A Om.,com..100;
do
pref.. 100!
107%
2d mort., 7s, ext. 1S93, ex..MAN
Equipment 7s, 1883
MAN
106
106
110
107
100
103 7g 104
107%T07*£
111%.
Cliioago Rock Island A Pac.... 100 i 111*4
14
12*o
80
Gen. 5s, guar., 1930
MAN
Wab.St.L AP.—1st,ex.,7s,'90.FAA
7-lOOj
100
Pref.,7..100j
Chicago A North Western
do
112
102
40
85
109
Cairo A Fnl., 1 st,l.g. ,7s,g. ,’91. J A J
San Aut.A A.Pass.,lst,6s,1916.JAJ
do
1st,Os,1926.J&J
^
......
103 7g
103
108 34 109
94*0 95
ioi
Montana
.
...
2d mort.. Os, 1930
FAA
8t. L. A Chic.—1 stcon.Os,1927. JAJ
St. L. & Iron Mt.—1st,7s,'92..FAA
2d mort., 7s, g., 1897
MAN
Ark. Br. 1. gr., M., 7s, g., '95.,
Cairo Ark. A T.,1st,7s,g.,'97.,
.....
.
-
j
108*3
Equipment, 2d mort., 5s
FA A
8t.Jo. & Gr. Isl’d—1st, guar.Os, 1925
2d mort., incomes, 5s, 1925
Bfc.L.Alt.AT.H.—1st M., 7s, '94. JAJ
2d mort., pref., 7s, 1894
FAA
2d income, 7s, 1894
MAN
Div. bonds, 1894
Dak. Ext.. 6s. 1910
MAN
1st consol. 6s, 1933
JAJ
do
reduced to 4*38 ..JAJ
Minn’s U’n, 1st, Os, 1922 ....JAJ
Montana Ext., 1st, 4s, 1937. JAD
.
...
’95"
j
FAA
MAS
BtX.Vand.AT.H.~lstM.,7s,’97.JAJ
2d mort,, 7s, 1898
MAN
2d, 7s,guar., 98
MAN
St. P. A Duluth—1st, 5s, 1931.FAA
Bt.P.Minn. A Man.—1st 7s,1909 JAJ
2d 6s, 1909
AAO
.
...
.
1
116*4
MAN
Trust bonds, Os, 1920
St. L. W. A W., 6s, 1919
50**
25
5
37
.
•
.
.....
103
Rick’d & Danv.—Con.,6s,’90..
'
50
8
California Pacific
;
38
California Southern..
100
ICO
Camden A Atlantic
50 \'94
Tref
do
Canada Southern..
100 ’*4*9% *50* ’*
101
Canadian Pacific
100. 5a *4 59
do
gen.
111
1109
Catawiasa
50 $■
56
122
do
1st pref
+120
do
50 £ 53*3 5 6 —»•*
106
105
do
2d pref
Cam. A Arab.,mort., 6s,
50 ^ 4
9
113*3 114*3 Cedar Falls A Minnesota
100
Cnion Pacific—1st, Os, g.,1
115
117
115
]
Central
of
Georgia
100
1st, 6s. 1897
5
3
j Central Iowa, 2d assesm’t pel.. 100
115
1st, 6s, 1898
i
115*4
do
1st pref
100
100*<>
2d pref
do
100 *20**3 21
114*3!
Central Massachusetts
100
Sink.
41
40*3
1120 !123
do
pref... 100
815*
104
Central of New Jersey
100 81%
46
50
94
Central Oliio
50
56
103
do
Pref
50
Kans. Pac., 1st, 6s, 1895
j
29*4 29%.
110
Central Pacific
100
do 1st M.,6s, 1896
23 *3 *28
114%
Charlotte Col. A Aug
100
do
Deny. Div., 6s
I
1%
1
1*4.
107
do 1st cons. M.,68,19195
Chesapeake & Ohio, common ..100
5
3*4
102
1st
do
102*3
prof...
100;
Oregon Short-L., Os, 1922 .. 1
3%
2*4
90
do
2d pref.... 100;
Utah Cen.—1st M., 6s, g.,1890.JTAJ
115*2 116
92
Cheshire, pref
Utah So., gen., 7s, 1909
100 135 140
88
do ext, 1st,7s,1909 JAJ
Chicago A Alton
100!
4
6
1104
A
Chicago
Atlantic Beneficiary— { 51*3 52
1*0*5 % Chicago Burlington A North.. 100j
1 18*3 118%.
Chicago Burlington A Quincy..100j
iVer. A Mass.—Guar. 5s, 1903 MAN 102*3 .103
2
115
Portl’ndAOgb’g—lstOs.g.,1900
Port Royal & Aug.—1st, Os, '99.
Ask.
8%
7%
98%
102*3 104
96*s 97
Tol.A.A. AGi
Tol. A Ohio Cor
Tol. Peoria A W.-
138*0 141
131*2 136
1912......
3dmort.,7s, 1912
x
Plttsb. McK.A Y.—1st,6s, 1932.
Pittsb. A West—1st, 4s. 1917.
Bid.
Railroad Stocks.
iBuffalo Rochester A Pittsb
100
99% Burlington C. Rapids A North.. 100:
II 77*3
131
’129
142
;[Vol. xlvi.
93
lOo hi.
58
78
30
"l7“
200
12
9%w
20
20
.......
5oj$
|
.....
120
08
i 2
’
....
L
....^
81
loS
47
.
^ Price p
c
In Frankfort,
u
la Amsterdam..
507
CHRONICLE
THE
21, 1888.]
April
BONDS—Cosclodsd.
QUOTATION’S OP STOCKS AND
GENERAL
For
railroad
Stocks.
Kan.C.Sp’dA Mem.lCO
Kan.C.Cl’n & Sp’d.100
Kan. City A Omaha...
Kentucky Central. 100
Keokuk A Des M..100
77
30
Keokuk A West
38
30
Kingst*nAPembr’ke50
& W—100
jLake Erie
Pref.100
do
L. Sh. A
=
Mick. 80.. 100
Lehigh Valley
50
Little Miami
50
Kittle Rock A Ft. Bin.
50
Little Schu’k’l
.
...
23
- *
7
26
67
110
St. Paul & Duluth. 100
do
Pref.100
dt.P.Minn. & Man. 100
Scioto Valley
50
95
101
6
Terre H. & Ind’nap.50
Texas A Pacific
100
Tol. Ann Arbor A N.M
Tol. Sc Ohio Cent’1.100
do
Pref.100
H. N. J. RR AC. Cc.lOC
Onion Pacific
100
100
Dtak Central
Utica Sc Black Riv.l 00
Vt.de Mass.,1’sed,6.100
Nasliv..l00l
Louisv.N.A.&Chie.lOO
Malioning Coal RR
!
12
i
25
54^6
;
30
37
!
54^
40
41
88
do
I* 1 ef.
Maine Central.... 1001 124*2 125
210
jVloksb. Sc Meridian ...
Man. A Law’ee
100! 208
do
pref.
Manhattan, con...l00j 8 5 »4 86*2
14
17
i Virginia Midland.. 100
Marq. H. A Ont.. .100 .
90
i WabaskSr.L.APac.lOO
do
* Pref..l00! 65
5 L
do
Pref.100
Mempk.A Chari
251 51
15
14-U
Warr’n(N.J.),l’s’d,7.50
Mexican Central ..100;
73* West Jersey
50
Mexican Nat., Tr. lvc.i
26
22
Mex. Nat. Consrr. Co.j
WeatfJerseyA Atl....50
77
78*2 Western Maryland.50
Michigan Cent
100
25
Western N. Y A Penn.
Midland of New Jersey;
50
Wheeling Sc L.Erie 100
Mil. Lake S. A W.'.lOoi
Wil. Columbia & A.100
do
pref.lOCi 87
Wilin. de Woldon, 7.100
Mil. & Northern. ..1001
63
Wisconsin Central 100
Mine Hill A 8.H....50 § 62 *s
6
7
Pref.100
do
Minneap. A St. L..100
16*4 W'or.Nash.& Rock. 100
do
Pref,..100i 15
ll7e 12
Misso’i Kan. & Tex. 100!
72
CANAL BONDS.
72*4
Missouri Pacific... 100;
7
8*4 Ches.&Del.-lst, Os,’80
Mobile A Ohio
IOO;
do
1st
N.Y.Ch.ASt.L.uewlOO
I4*e
14*2
66
64
do
1st pref.100
29 *i
28
do
2d pref 100
N. Y. A Harlem
50
106
N.Y.Lack. AWest... 100 1U6
24*i
243*
N.Y.L.ErieA West. 100,
57
57
do
Pref.100'
N.Y. & N.England. 100!
36*4 36 *2
113
do
Pref.100 112
220
N.Y. N H.AHartf.lGO 216
10
New York A Northern
20
Pref.
N.Y. Out. AWrest..lou
1534 16*4
1
N. Y. Penn. & Olii"
*4
1
do
34
Pref.
15
N. Y. Pint. A No 11. mo
N.Y.8uso.& Westn 100
0*4!
834
29
do
293*
Pref.100
3
N.Y. West Shore ci is..
2
Norf.A W’est,, com. 100
16*4! 103*
pref.100
4
17 *e
t'2
--
Peoria Dee. Sc Ev..l00,
Petersburg
IOO
Phtla. A Erie
50 5
j
Phil. Germ. Sc Nor..oOiJ>lI9 i
PMla.ARead.ass.pd.50i
do
50 §
Pref
^
PMla. WTilm.A Balt.50j$
Pitts. Cin. Sc St. L..50 £
Pitts. Sc Con., l’sed.50!
Pttts.Ft.W.A C.,guar.7
Pittsb. Sc Western ..50
do.
Ports.Gt.F.A Con.10c
Rens.
Saratoga ..100
Rich. A Alieg., ass. pd.
23*4
23%
52efci:
125
134
3*
......
l*s
17*2
12
14
24
23*4
60
48
58
12
10
„
51
110
112
.
.
.
.
51*2
114
163s
1658
36*2
37
126*4'
126
84
14
108*2 109
12
113*4
1083* 109
114
1083h
70
4
Amer. Speaking...
Erie
Mexican
i New England
.....
Price nominal; no late transactions.
100
107
80
i
25
20
70*2
52
45
*4
2
3*2
5
iOl
97
16
25
90
96
159
70
1
|
ji
'
33
95
.102
170
74
91*2
100
25
)
ir
10
iola (copper)...
Pewabic (copper)..
28
Plymouth Consol...
80
70
74 *2
743*
118
115
223
30*2
50C
55
85
140
90
31
Metropolitan
..
Rappakanoclc
229
115"
112
BOSTON
Huron
100
101
N.Y. A BR’KLYN
HORSE HKS.
(See Local Securities in
100^ ;
Chuonicle each to’/c,
!
9
i 104*2
I
138
;
Chelsea, Mass
100 112
Dorchester, Mass.. lOOj liokj
Bost. Duck (Mass.)70(J
Chaee (Fall Riv.) .100
(Cambridge, Mass.. 100
!
8
1
PTu.MaaslOO 157 1
Lawrence, Mass...100 129341130
Jamaica
100
Lowell
20,>
Maid. A Me)rose... 100
Newton A Wat’n ..100
Salem, Mass.,
100
Brooklyn, L. 1
25
Citizens’, Brooklyn.20
Metropolitan, B’klyn.
Nassau, Brooklyn ..25
100
People’s, Brooklyn. 10
Wiiiiamsb’g, B’klyn 50
Cliaiiest’»,8.C.,Gas.25
Chicago G.A Coke. 100
Chicago Gas Trust
Cincinnati G. A Coke
.
Hartford, Ct., G. L..25
Jersey C.A Hobok’n 20
People’s, Jersey C
Louisville G. L
Milwaukee Gas
Central of N. Y
Consolidated, N.Y". 100
Equitable. N. Y
Mutual of N. Y
N. Orleaus G. L.
100
.100
Portland, Mo., G. L.50
St. Louis Gas/.
100
Laclede, 8t. Louis. 100
.
San Francisco Gas
Wash’tou City G. L.20
1 Purchaser also pays a-ecrued interest.
t In London.
1%
17%
13*4
13*2
4
$1
$3
4%
$2
$3*2
20
21
40
4
6
238
210
200.
220.
23
25
2*4
..100
500
Cocheco (N.H.)
Collins Co. (Conn.).. 10
$1*2
820
1855 1860
126*2 127
695
700
109*2 110
102
85
....
.
.
......
1.0
120*2
1320
1325
128
130
1000
1005
1 oh *2.159
875
925
95
108
97*2
L06*2
465
475
7*2
8*8
37
37*2
70
75
....
_
100
Jolyoke W.Power. 10G
Jackson (N. H.)..1000
King Philip (F. R.) 100
Laconia (Me)
400
Laucaster M.(N.H)400
L’rel Lake Mills (F. R.)
$2
140
106*2 107
.
.
......
Hill (Me)
2%
70
Crystal Spr. Bl.(F.R-).
Davol Mills (F. R.) 100
70
Dougl’s Axo (Mass)lOC
Dwiglit (Mass.). . 590 700
59%
Everett (Mass.)... 100
b\ R. Machine Co.. 100
F. R. Merino Co...100
Flint Mills (F. R.) 100 100
90
Franklin (Me.)
100
Cl’be Y.Mills(F.R.) 100 116
35
Granite (F.R.)
1000
88*2
179*2 Great Falls (N. H.)100
Hamilton (Mass.) 1000 790
Hartf. Carpet (Ct.)lOO 179
122
50
Chicopee (Mass.)
Continental (Me.). 100
Cres’t Mills (F. R.) 100
Lynn, Mass.,G. L..100
10!
Power.. |
Atlantic (Mass.)...100
•
115
1*2
17*2
39
140
25
10334
109
South Boston
100
Brookline, Mass...100
3*00
4*05
Tamarack
25
IRAN GFACT’ING
STOCKS.
Am. Linen1 0
(Fall Riv.)
I Amory (N. H .)... ..100
Barnaby (Fall Ri v.)...
iBarnard Mfg. (F. R.)..
Bates (Me.)
100
1 Boott Cot. (Mass.) 1000
Border City Mfg. (F.R.)
Boston Co.(Mass.)1000
Boston Belting
100
i East Boston
5*00
.
.
69
•
53ki
.
25
Quincy
Ridge
(Appleton (Mass.). 1000
(Boston Gaslight...500; 1000
...25
39rU
'7e Roxbury
100
9978:100
25
25
25
Amoskeag (N.H.) 1000
except Ji rsi of month.)
iBalt. Consol. Gas
10? ^
Minnesota
National
Osceola
Pewabie
lAndroscog’n (Me.).100
GAS STOCKS.
97
10
25
25
25
25
Central
Franklin
142
105
215
175
.
2-80
3-80
1-50
625
ITIINING
STOCKS.^
25
Allouez
Atlantic
25
Bost.A Mon...(Copper)
Bruusw’k Antimony.5
Calumet A Heola...25
100
: 9
95
100
1
102*4 1023*
.
100
100
Union Consol
Utah
Yellow Jacket
100
•85
5-75
50
Silver Cliff
70
100
100
•75
5-CO
4-25
1*4 Silver
King
43*4 Standard
70c.
8*50
•18
Savage
31
N. Y. Guar. A Ind..l00
N. Y. Life A Trust.100
7-50
19-00
2-50
8-25
4-10
69-00
1
10
Rea Elephant
Robinson Consol-
Catalpa Silver
..100
lOSk2 I Union
United States
100
Potosi
Quincy (coppor)
100
100
Mercantile
12-75
145
150
Long Island
200
2-20
73*e! Dunkin
Central
100
Farmers’Loan A Tr.25
Knickerbocker
100
4858
'■•80
100
lOu
sol. California. 100
I
Brooklyn Trust ...ICO
108
•58
~
STOCKS, N.Y.
l>!
.
! Brecce
Am. Loan A Trust. 100
99
Cou. 5s 1925 J.AD..
Ocean SS.Co.,istgu ir. 102
St. L. Bridge Sc Tun—]
1st. 7e, g, 19 29. A AO U34
_
ill
United States Ill. Co..
TRUST CO.’S
1
2
10S
•11
|
43
Brush Illuminat’g 100
Edison
Edison Illuminating..
United States.
48
11»*
Frenchman’s Bay Ld. |
Henderson Bridge Co.
i
Keeley Motor
; 115*2 Mauli’tt’u B’cli Co.ltO
170
Maverick Land
10
142
1*8
10
Brush, Balt
BONDS.
j'
100
100
100
]
ELECTRIC
JIISC’LLANJKOCS
Oostou Land
Boston Water
135
LIGHT STOCKS.
pref.50 5
119*2 120
115
100
TELEPHONE
STOCKS.
American Bell
100
Tropical
100
pf.,guar.l0..100
Schuylkill Nav
50 5
j
37
28
135
......
136
do
54 V! Teuu.C.AL—T'nn D Os;
Bir. Div. 1st,Os, 1917
>8
TlIS<^LLANEOliS !
H
05
STOCKS.
27
72
TEL’PH STOC1
AND BONDS.
American Dist.Tel.100
i American Tel. A Cable
Atlantic A Pacific st’k
Bank’s A Morch’ts.100
General mort. cert.
Cent. Sc So. Am. Cable
Commercial Tel. Co.pf,
Franklin
100
Gold A Stook
100
Bonds
Mexican
100
N. Y. Mutual Un. TelMutual Union Os....
N’west., 7s, 1904 .J&.l
Postal Telegraph.. 100
Bonds, 1st Os
Postal T. Cable, new.
So. Tel., 1st mort. b’ds
South’n Sc Atlantic.25
Western Union.... 100
7s, 1900, M. AN....
1083*
Morris, guar., 4
Oreg.R.AN.lst.Os.JAJ'
| Bassick
! Belle Isle
;
10*2 1 CaTin’tAHecla(oopp’r)
35
American
United States....
100
Bruns wiok
28*2 I Bulwer
270
Caledonia B. II
......
do
35
50
215*2
1
Lehigh Navigatiou. .50
! 12
N.E.Mtg.SecurJBost.,
115
!.;
N. Hampshire Lain! 25
14U
N.Y. A Tex.Ld.,Lim. 50
j
do
1
Land scrip
do
O.lLO; 1*0
Richmond Sc P’b’g.ioo! 11 lk! 1121s! Oregon Improvement, i
Rich. A West Point ;001
2o5s ‘23 7b Oregon Ry.AN.Co.10Ui
66
Pacific Mail SS. Co. 100do
Pref ...1001 64
Richmond Yorkli.dec.
Pkiladel. Co. Nat. Gas.
95
Rome Sc Decatur
I
Pulim’nPalace Carl001
Rome W. Sc Ogd...lOo
86
85 *2
San Diego Land
6
Rutland
100
St.Louis B’dge.lstprel
5*2
39
37
2d pref. certificates.
Pref., 7.. 100
do
10
St.Louis Tunnel RR..
Jos.& G’d lsl’d.lcO
36
St. Louis Transfer Co.
35
8t.LouisAlt.deT.il.100
do
77
Union St’k Yds. ATr.Co
Pref.100
70
wL. Ark.de TexaslOO
West End Land (Best.)
11*4 12
95
133
Del. & Hudson
100
Del. Div. leased, 8..50
Rich. F. Sc P., com. 10(j
do
Guar. 7.100
Jt.
90
Alice
Alta Montana
Barcelona
15
11
9*2
CANAL STOCKS.
do
10
12
10
Coal..
Maryland Coal...,
27
| Brookline (Mass.)L’do
Canton Co. (Balt.). 100;
153 *s; 154
C«v. A Cin. Bridge, pf.i
j
lOkj Fast Boston Land.
I
Pr. f...5o
Port.Saco APorts.lsd t»
Port Royal Sc Augusta
Marshall Cons.
2U*a'| Ainer. Bank Note Co.. I
i Amer.Cotton Oil trusts!
583el 58k ' Aspiuwall Land....lO|
j
tOk'
10
9*fl.
49*4
122
Chesapeake A Del. .50
do
34
34
21
23
11
10
266
44*2
79*2
h'iK
18
Susq.—0s,cp.,1918JdeJ
7s. coup., 1902.. JdeJ
OHIO Southern;.:::ioo'f i6k>! 13
Old Colony
100: 10.;:%l 170
Oregon Short LineluO'
20^ 20 k
Oregon Trans-Cout 100
Oswego Sc Syr., gu. 50!
Pennsylvania RR. .50 $
Pensacola A Atlantic..!
97
130
523k
Pa.D.cp.,7s,MA8
447c; Am.Wat’rW.Co.,lst.6s
Canton(Balt.)Os,g., ’04
LXLinj 1 v aiilit. .ou
Northern Central... 50. y
Un. RR.,lst, end.,Os.
I 83
North’n N. Hamp.100 141 i 141 k Col.CoulA Iron— 1st, Os
22
22 k Col & Hock. C.Sc I.,Os..
North’n Pac., com. 100
do'
4534: 46*4 Cov.ACin.Bge. 5s,3-5 y
Pref.100
Norw.A Worcester. luu 170 ! 177
5s, 5 years
MAS
10
Ga. Co.,N.C.,5s.. 1937
| 12
Ogd. & L. Champ. 100
Ohio A Miss
Heml’u BridgeOs, 1931
2034 21
100
Or. Imp., 1st, Os. 1910
do
Pref. 100 j; ?b i 82
do
„
20
7*2
6s,g.rg.’94MAS
6s,g.,cp.Arg..’97JAD 113*2
Cous.M.,1911 7sJdeD 127
75
Penn.—Os, coup., 1910
Schuylkill Nav.—
80
1st M.,0s, 1897.Q-M
2d M.,6s,1907..JAJ
50
Mort. 68,cp.,’95 JAJ
6s,imp.,cp.,’80MAN
2G
6s,btAcar,1913MAN
105 *2
105
47*2
10
Ask.
ITIINING STOCKS5
(N. Y. A SAN. FRAN.)
102*2
40
213
Conv
%
MINING
*
Lehigh Nav.- 4*28, ’14
RR. Os, reg., ’97.Q-F
Pref.100
N. Jersey Southern..
N. News A Miss. Val.Co
N.Y.Cent.A H.Riv.100
08
20
Coup. 7s. 1894. A AO
54*4
&
STOCKS, N.Y.
N. Y. &
Ches.&O.—Os, ’70.Q.-J
Morgan’s La.ATex.100!
140
Del. A H.—7s, ’91.JAJ
Morris AE’x, gu.,7.501 140
1st ext., 1891..MAN
75*2 76*2
Naskv.Chat.A St. L.25|
Nashua A Lowell..100!
COAL
Bid.
Miscellaneous.
I
111
6
......
N’squehouing Vall’y50'$ 54
-3*2
New Jersey A N.Y.1C 0
12
Ask.
Bid.
Miscellaneous.
27*2
463*
...
1
11
22
Ask.
8’west., Ga., g’d, 7.100 129
Syr. Bing. Sc N. Y.100
9
Summit Branch,Pa.50
Sunbury A Lewist.,50 J 48
50
63
.
St. L. Van. & V. H
St. .Louis A San Fr.100
do
Pref... .100
do
1st pref.100
Seab’d & RoanokelOO
South Carolina....100
Southern Pac. Co.. 100
89*21 91
Pref.100
do.
j
1■
J.
......
Evans.& St. L.100(
Louisv. A
5
133* 14*4
43*4! 437b
89*4 j 893«
523» 52 5g
^163 i 167
50
Long Island
La. & Mo. River. .lOGi
Pref
do
IOO!
Lou.
L.
3*2
Bid.
Miscellaneous.
80
40
5*2
pref..l00
do
Ask.
Bid.
.
84
220
1000
465
570
SO
40
40
70*2
705
60
102
92
235
89
795
182*2
64%
1005
106
470
580
30*2
(Mass.) 1000 1515 1520
Lowell (Mass)
690 700 705
145
Lowell Bleackery.200 143
Lawrence
Lowell Mach.Shop.500
LymanM. (Mass.). 100
Manchester (N.H.) 100
§ Quotation per share.
610
65
150
650
65%
150*2
THE CHRONICLE.
508
[Vol XL\l
Latest
Jmrjestmjent
Road*.
AND
Ill. CentralDub.*; Sioux C.
Ia. Falls & 8. C.
Ind. Bloom. &W.
Ind. Dee. A Spr.
Ind. A St. Louis
Jack. T. A K. W.
Kanawha& Ohio
.
pamphlet of 182 pages,
contains extended tables of the Funded Debt of States and
Cities and of the Stocks and Bonds of Railroads and other
Companies. It is published on the last Saturday of every
other month—viz., January, March, May, July, Septem¬
ber and November, and is furnish
ut extra charge
to all regular subscribers of the Chronicle.
Extra copies
The Investors’ Supplement, a
sold to subscribers of the Chronicle at
50 cents each,
and to others at $1 per copy.
13P The General Quotations of Stooks and Bonds heretofore published
on the first Saturday of each month, occupying six pages of the Chron* CUE, are published in to-day’s issue; they will hereafter be published
on the third Saturday of each month, and will next appear, therefore^
on Saturday, May 19, June 16, July 21, August 18, September 15,
October 20, November 17 and December 15.
Dates.—The latest railroad earn¬
ings and the totals from Jan. 1 to latest date are given below
for all the railroad companies whose reports can be ob¬
tained.
Latest
Earnings Reported. '
Jan. 1 to Latest Bate.
Roads.
1887-8.
Week or Mo
Allegheny Val.
.
February
15b,350
.
1886-7
1887-8.
1886-7.
$
$
$
133,659
311,505
Atch. T. & S. Fe. February.. 1,069,000 1,236,4 63 2.140,483
249,420
Atlanta & Char. February..
125,828! 113,739
38,186
84,573
43,0291
Atlanta &W.
February..
75,055
2d wk Apr.
733,815
60,072!
Atlantic & P
Baltimore^ 01iio|
1,555,964 1,855,926
110,528
236,447
113,949
Balt. A Potomac February..
56,993
167,988
90,055
Beech Creek
February, i
43,094
32,887
518,945
Bufl’.Roeh.A Pitt 2d wk Apr i
47,983
686,839
58,052;
Bur. C.Rap. & No. | 1st wk Apr:
12,849
190,788'
12,636
Cairo V. A Chic, i 2d wk Apr. j
34,203
37,627
Cal. Southern...! 1st wk Apr!
....
33,341
tCamden A Atl’c February..
Canadian Pacific 2d w k Apr.
Cp.F’r AYad.Val
234,000
27,026
March
53,boo
Carolina Cent... February..
Cen.KR.&Bg.Co.
Railroad lines. 3dwk Mar
Whole system. February.. I
102,094
554,543
133,345
776,531
8,722
68,420
152.202
476,740
6,240
7,756
February..
2d w k Apr.
39,368
47,920
183,449
February..! 165,124
February 1,686,519 1,847,235
2d wk Apr.
36,097
32,626
2d wk Apr.]
6,399
8,398
479,457
2d wk Apr. | 442,500
February.. 1,676,493 1,634,180
March
6,890
3,601
446,385
452,716
January...
112,347
March
172,493
438,927
369,033
February..
23,619
1st wk Apr
27,571
February..) 202,274 196,671
1st wk Apr;
7,157
8,381
1st wk Apr
53,165
52,839
1st wk Apr
26.379
21,954
8,595
1st ^ k Apr |
13,092
1st wk Apr:
8,142
7,954
lstwk Apr
7,139
7,187
107,77 7
98,669
Erlanger Syst 1st wkApr
7,935
Cln.Rich.AFt.W. 2d wkApr.
8,105
7,861
Cln. Sel. A Mob.. February..
10.380
Cin. A Spring’d March
102,269
91,032
Cin.Wash.ABalt. 1st wk Apr
38,886
38,592
10,998
Clev. Akron A Col 1st w k Apr
11,665
28,104
30,955
Clev. A Canton March
383,731
343,090
Clev.Col.C.A Ind March
15,864
Central Iowa....
Central of N. J.
Central of S. C.
Charlest’n &Sav
Cheshire
Cheraw A Dari.
March
j
February..
February..
February, j
February..
February..
Chesap. & Ohio. December.!
Eliz.Lex.AB.S. February..
Ches.O. AS. W..
Ches. A Lenoir.
Chic. A Atlantic
Chic. Burl. A No.
Chic. Burl. A Q.
Chic. A East. 111.
Chic. A Ind. Coal
Chic. Mil. A St.P.
Chic. A N’thw’n.
Chic. A Oh. Riv.
Chic. St.L. APitts
Chic. St.P. AK.C.
Chic. St.P.M.AO.
Chic. A W. Mich.
Cin.lnd.St.L.AC.
Cin.Jaek. A Mac.
Cin.N. O. AT. P.
Ala. Gt. South.
N. Orl. A N. E
Vicksb. A Mer.
Vicks. Sh. AP.
March
620,905
123,407
976,411
12,027
53,764
60,821
38,028
39,261
8,462 >74 '8,833
73,615
160,218
-
.
Whole system.
Clev. A Marietta
Col. A Cin. Mid
Col.Hock. V. A T.
Denv. A Rio Gr
Denv. A R. G. W.
Den. Tex.AGulf.
March
1st w k Apr
623,263
1st wkApr
1st wk Apr
2d wk Apr.
2d wk Apr.
5,428
Det.BayC.AAlp.
March
February.
Det.Lans’gANo. 2d wk Apr.
Duluth S.S.AAtl. 2d wk Apr.
E.Tenn.Va.AGa. 1st wk Apr
Evans. A Ind’plis 2d wk Apr.
Evansv. A T. H. 2d wk Apr.
Flint A P. Marq. 1st wk Apr
Fla. R.ANav.Co. lstwk Apr
Ft.W.ADen.City 2dw7k Mar.
Georgia Pacific. 2d wk Apr
Gr. Rap. A Ind... 2d wk Apr
Other lines.... 2d wk Apr
Grand Trunk... Wk. Apr. 7
Hous.ATex.Cen. lstwk Apr
Humest’n AShen March
Hl.Cen. (Ill. A So) March
Cedar F. A Mm. March
4,870
47,879
132,200
22,100
21,686
38,000
18,658
18,877
99.978
4,098
14,267
52,379
21,000
12,300
23,950
42,084
4,041
340,191
35,991
10,200
877,660
7.432
281.750
•
2,549,055
228,316
76,068
770,432
217,655
668,495
5,778
5,009
56,603
133,300
17,875
15,072
39,769
21,002
12,353
84,442
3.298
17,822
47,986
23,200
14,344
20,122
46,153
3,854
368,435
39,814
10,674
956,897
11,1541
100,776
82,956
16,599
4,096,049
145,071
422,605
12,113
3,357,813
3,832,620
542,450
150,069
106,086
5,854,500! 6,247,890
3,247,782 3.357.353
10,210!
17,606
452,716'
446,385
424,190
263,992
763,815!
740.492
331.750
324,548]
407,206!
412,839
113,861
102,507
899,666
843,139
419,497
393,463
232,431
186,075
549,775|
144.424
147.554
152,583
1,722.814
114,703
20,088
270,524
550,769
108,564
18,158
253,875
577,845
133,905
151,116
83,858
942,332
1,720,777
73,497
76,210
631,421
1,856,637
318,533
78,120
957,773
1,745,667
82,967
-
81,291
724,399
1,958,til
260,772
28,962
44,5571
100,531'
243,491!
90,248
283,136
260,513]
174.554
1,469,258] 1,317,594
59,842!
228,685:
641,4631
299,981!
162,551!
336,99i|
64,416
213,976
631,512
302,227
106.0CM
283,201
590,533
34,310
4,046,531! 4,600,283
622,988
557,462)
36,161!
36,637
2,715,951 2.750.354
586,1831
53,962
19,672!
Lehigh <fe Hud... February..
L. Rock A Mem. 1st wkApr
Long Island..... March
Lou. & Mo. Riv.. January...
Louis.Ev. A St.L. 1st wk Apr
Louisv.&Nashv. 2d wk Apr.
Lou.N.A. & Chic. 2d wk Apr.
Louisv.N.O. &T. 2d wk Apr.
25,985
1887-8.
1886-7.
54.799
New Brunswick. February..
N.Y. Cen.&H.R. March
152.919
202,600
5,047
89,249
41,925
25,728
20,534
12,291
84,854
475,583
34,759
212,893
196,902
518,193
40.982
36,704
38,000
240.774
4.372.462
N’theastrn (S.C.)
Northern Cent’l.
Northern Pacific
Ohio A Miss
Ohio River.
Ohio Southern.
Omaha A St. L..
March.
2d wk Apr.
106,154
100,003
67,909
454,751
315,902
...
February.
February..
2d wk Apr.
2d wk Apr.
67.947
6,321
54,461
26,151
384,745
1st wkApr
March
February..
Oregon Imp. Co February..
Oreg. R. A N. Co March
455,885
1,793,424
1,358,633
534,601
437.196
1,031,399
525,571
931,808
660,689
259,988
252.977
300,834
30,457
616,248
776.774
41,328
101,108
383,282
10,147
625,979
737,288
42,429
94,374
8,152,796
3.938.463
778,492
8,089,351
3,811,725
722,305
385,673
79,503
334,51373,638
81,875
56,405
342,545
1,305,357
127,613
1,026.381
488,990
907,192
275.499
82,086
5,216
3,454,852
1,026,516
86,264
50.931
51,456
161,349
62,589
727,624
194,115
21,886
18,820
162,071
10,147
189,466
245,733
'
12,998
47,761
112,538
1,275,245
8,573,433
7,840,559
495,796
5 i 7,552
13,173
257.500
February..
February.. 1,106,357 1,518,256
283,444 1,118,021
February..
Tot.botliCo’s.. February.. 1,389,801 2,636,277
2d wk Apr.
39.983
28,281
39,711
39,194
P’rtRoyal A Aug. February..
34,908
35,310
Pt, R’alA W.Car. February.
2,036,597! 3,089,077
616,271! 2,155,771
2,652,869, 5.244.848
453,243’
526,969
75,4104
66,637
67,006
61,176
1,391,889
1,243,678
455,971!
401,451
254,571
179,104
183,469
Pitts. A West’rn
Seab’rd & Roan. February..
ShenaudoahVal March. A..
South Carolina.. March
.42,745
39.750
88,775
34,725
17,400
11,050
16,850
2,700
76.350
29,575
14,800
8,850
14.350
2,600
2,050
950
173,550
147,475
201,640
33,794
17,738
32,617
104,893
22.224
224,059
33,379
1
13,880
40,713
92,294
24,142
736,729
20,<-21
52,109
62.862
71,000
119,569
So. Pacific Co.—
Gal.Har.&S.A. February..
Louis’a West.. ; February..
Morgan’s L&T. February..
N. Y.T. &Mex. February.
,
Tex. A N. Orl.. ! February..
Atlan’c system !February..
Pacific system February.,
Total of all.. February.
j!
Spar. Un. A Col. February.
Staten Is. Rap. Ti March
Summit Branch i February.,
Texas A Pacific. 2d wk Apr.
Tol.A.A. AN.M’h 2d wk Apr.
Tol. A Ohio Cent. .2d wk Apr.
Tol. P. A West.. 1st wkApr
Union Pacific... 'February.,
313,600
73,251
418,227
7,860
106,980
919,916
11,032
42,988
121.719
104,062
54,767
50,450
70,793
114,068
224,495
56,452
297,957
7,359
82,557
668,820
9,244
45,336
88,079
74,482
8,356
10,465
17,498
21,369
11,697
15,621
1,917,938 1,075,914
42,512
95,450
42S.540
51,423
aWiseousin Cen. 2d wk Apr.
.
679,803
2,542,879 1,570,830
3,462,791 2,239,649
Valley of Ohio.. j February,.
Wab. Western... i2d wk Apr.
Wab., E. of Miss |February.
Western of Ala.. February.
WestN. Y.&Pa. 2d wk Apr.
J West Jersey.... February..
Wheeling A L. E. 2d wk Apr.
Wil. Col. A Aug I February.
'
112,657
1,003,938
2.703.847
1,158,279
4,379,455 3,988,788
11,375
272,052
Scioto Valley.... February..
2i 5,475
39,434
232,590
457,103
2d wkFeb
Rich. & Allegh’y. February..
R& W.P.Ter. CoRich. A Danv. 2d wk Apr.
Va. Mid. Div.. 2d wk Apr.
C. C. A A. Div. 2d wk Apr.
Col. A Gr. Div. 2d wk Apr.
West. N. C. Div 2d wk Apr.
W. O. A W.Div. 2d wk Apr.
Asli.&Sp. Div. 2d wk Apr.
Total all.... 2d wk Apr.
Rome W. A Og .. February..
U St.L. Alt. &T.H. 2d wk Apr.
1st wk Apr
Branches
St.L. Ark. & Tex. 2d wk Apr.
St.L. & San Fran. 2d wk Apr.
St.Paul ADuluth 2d wk Apr.
St.P.Min.&Man. March...
S.Ant.AAr.Pass. 1st wk Apr
41.440
233,737
509,443
40,982
237,040
4,278,577
547,189
150,860
88,145
495,941
972,202
557,400
February.
..
524,045
711,401
109,137
573,203
111,488
33,710
654,669
483,659
66,443
208,650
87,339
29,446
74,951
502,497
600,508
86,859
11,480
440,521
2,849,609 2,919,810
2N.Y. L. E. & W. February.. 2,048,280 1,923,665
364,518
386,953
N.Y. & New Eng. February..
10,609
10,711
N. Y. A Northern 2d wk Apr.
31,697
26,917
N.Y. Out. & W... 2d wk Apr.
38.880
41,927
N.Y.,Pliila.&N’k February..
N.Y. Sus. & W..
Norfolk & West
60.141
220,194
4.267
69,102
202,300
257,133
12,177
187,365
77,627
547,239
107,196
70,529
602,300
414,955
31,084
67,865
159,600
80,284
55,777
167,747
March....
March
March
172,431
58,962
38,665
33,794
53,912
1*808
71,855
55.880
6,376
77,227
24.223
39,935
127.718
January.
186,749
262.250
37,281
29,35<
40.861
21,370
105,000
30,457
209,931
33.750
36,480
34,105
94,773
6,656
Mar. Col. & No.. March.....
Memphis &Chas. 1st wk Apr
2dwk Apr
♦Mexican Cent
♦Mex.N. (all Ins) Maroh
♦MexicanRailwy Wk.Mar 31
Mil.L.Sh.&West 2d wk Apr.
Milwaukee&No. 2d wk Apr.
Minneap. A St. L. March
72,714
60,329
2,775
16,420
273,425
Lykens Valley.. February..
Peoria Dee.&Ev.
Phila. & Erie...
Phila. A Read’g.,
Coal & Iron Co.
1,143,337
1,077,234
340,080
1,391,109
16,308
5,108
66,069
45,545
6,414
76,184
5,125
3,403
41,760
33,237
17,691
13,883
168,917
36,704
.
502,049
761,673
197,501
339,105
1,832,454
57.947
61,685
52,042
25,424
33,379
...
2d wk Apr.
K.C.Ft.S.&Gulf. 4th wkmr
Kan. C. Sp. &M. 4th wkMar
Kan. C. Cl. & Sp. 4th wkMar
Kentucky Cent. March
Keokuk A West. 2d wk Apr.
Kingst’n A Pern. 2d wk Apr.
Knoxv. A Ohio
February..
Lake E. A West. 18t wk Apr
Pennsylvania.
603.491
136,436
February.
103,887
508,6101 418,284
25,804'
66,275!
55,647
188,000! 3,079,199 2,262,394
‘>o 700
82,930
67,689
93,015
50,717
98,244
1,342,271
1,289,903
329,633
1,817,782
22,131
108,681
79,867
17,536
4,451,169
161,415
109,340
80,205
.
Gross Earnings to Latest
Jan. 1 to Latest Dais
9
March
March.
4th wk Jan
March
2d wk Apr.
Min.St.Ste.M&A
Mobile A Ohio
Nash. Ch.&St.L.
Natchez Jac.&C
RAILROAD EARNINGS.
1886-7.
1887-8.
Week or Mo
Railroad %nUlliQmtz.
are
Earnings Reported.
48.800
41,972
94,254
438,436
40,805
53,600
85,030
16,517
77,570
86,089
70,130
68,670
63,005
13,804
288,116,
200,393;
192,765!
28,550
27,799!
25,037
11,984
2,545,610' 2,295,402
436,505
386,216
.547,239
573,203
242,730
235,230
720,311
578,763
1,419,703 1,543,496
286,599
314,981
1,774,165 1,573,863
210,009
106,182
110.991
109,437
90,902
179,562
185,701
382,698,
326,799
.
589,665'
1,835,683!
4,873,873
6,709,556
445,887
114.991
666,231
19,818
164,091
1,411,018
3,331,684
4,742,701
19,884
127,338
278,692
125,565
174,390
1,701,771
1,683,387
137,274'
890,493!
15,687'
202,566'
164,290
331,465
223,867
15,105
138,214
276,104
237,262
3,645,770
3,413,267
1,385,781
1,677,330
884,654'
100,863
753,423
170,735
248,976
160,858'
905,740
921,985
86,279
695,176
154,398
197,237
139,437
885,747
.* Mexican currency.
J And branches.
U Including Indianapolis & St. Louis.
a
All lines included.
Latest
Gross
Earnings by Weeks.—The latest weekly
earnings in the foregoing table are separately summed up
as
follows:
earnings are again beginning to improve, and for
April the 51 roads following show an in¬
of 5*77 per cent.
Railroad
the second week of
crease
April 21,
THE CHRONICLE.
1888. J
2d week of April.
1888.
1887.
Increase.
509
February.
Decrease.
1888.
,
9
75,055
Atlantic A Pacific
Buffalo Roch. <fc Pittsburg.
Cairo Vin. A Chlo.
Canadian Pacifio.........
Chicago A Atlantic
Chicago & East. Ills....
Chicago A Ind. Coal
Chicago Mil. A St. Paul...
Cincinnati Rich. & Ft. W.
Denver & Rio Grande
Denver A R. Grande West
Detroit Lans. & North
Duluth South Sh. A Atl..
Evansville & Indianap...
Evansville & T. H
Grand Rapids & Ind
213
188,000
39,368
36,097
46,000
8,552
6,399
1,999
3,471
479,457
7,935
36,957
170
133,300
...
17,875
4,225
21,002
12,353
6,524
3,298
800
3,555
4,069
Pittsburg & Western
Richmond & Danville
....
Virginia Mid. Div
Char. C. & A. Div.......
Col. A Gr. Div
West North Car. Div
Wash. O. & W. Div
3,240
Wisconsin Central
j
10,609
26,917
81,875
102
315,902
275,499
82,086
13,173
one
per
a
cent.
1st week
Stat. Isl. Bap. Trans. Gross.
2.200
2,600
100
950
1,100
Net...def. 1,500
1,209
318,174
127,338
def. 3,509
Og.Gross.
384,745
65,780
Net...
Road.
Ca;
e
Fear A Yad. Yal.Gross.
Net..
40,713
32,617
104,893
8,096
22,224
1,918;
Net...
Nash. Chat. & St. L.. Gross.
Net...
415
74,482
29,58 0,
8,356
21,369
95,450
48,800
16,517
68,670
17,498
94,254
53,600
13,804
63,005
2,109'
3,871
1,196
22,791
10,757
2,978,391
2,815,961
2,713
5,665
i
1887.
1887-8.
$
2S5.320
91,043
245,733
97,095
2,378,412
1,037,365
Road.
Tenn. Coal & Iron Co..Net..
$
56,900
ANNUAL
274,130
56,423
2,057,257
869,112
r-Oct. 1 to Mch. 31.—%
1886-7.
1887-8.
March.1887.
1888.
.
1886-7.
$
28/104
6,059
$
$
1,555,964 1,855,926
366,729
544,837
138,069
$
236,066
111,585
142,362
>—July 1 to Mch. 31—%
-March.—
1888.
1887.
Road.
Baltimore & Ohio....Gross.
Net...
1886-7.
$
291,725
March. -
30,955
10,518
257,133
103,205
........
4,800
1887-8.
$
Cleveland & Canton.. Gross.
1886-7.
$
1,093,829
760,411
180,459
105,411
s-Apr. 1 to Mar. 31.—%
232,590
35,746
27,026
11,788
Roads.
$
1,168,459
518,375
$
$
-
33*794
1886-7.
1887-8.
$
1888.
33,379
10,465
125,565
def. 8,362
.—Dec. 1 to Feb 29.—%
1887.
$
$
Gross.
546,305
February.—>
,
12,599
78.120
12,213
737,288
315,498
Oct. 1 to Feb. 29.—%
$
1,295,899
March.
1883.
1887.
|
$
67,688
33,858
1887-8.
201,640
75,120
1888.
Oregon Imp. Co
.—
,
1887.
$
224,059
75,285
Road.
2,600
■
28,104
February.
12,425
5,150
t
22,791
TO,757
42,998
/
2,500
1887.
776,774
$
11,702
14,800
| 8,850
14,350
921,985
292,680
9 :
82.930
97,095
45,336
1888.
14,139
17,400
11,050
1,387,436
1888.
245,733
40,403
-
4,742,701
-Jan. 1 to Mar. 31.-*
,
6,059
Net...
39,983
134,269
3,331,684
1,147,472
42,764
83,858
22,689
Road.
4,78<
76,350
29,575
143.176
4,873,873
1,579,898
6,709,556
2,084,641
884,654
150,233
MONTH AND FISCAL YEAB.
April, the result on our final statement
merely nominal loss, amounting to
$
$
9,907,030 10,02M 54
2,639,338 3,069,445
.
$
50,100
r-Feb. 1 to Mch 31
1883.
1887.
$
$
1'. 6,500
102,200
REPORTS.
Norfolk & Western Railroad.
1888.
1887.
9
Prev’ly report’d (53 roads)
Burl. Cedar R. A North.
Cincinnati Jack. A Mack
Ctn. N. O. & Texas Pac...
Alabama Gt. Southern
New Orleans & N. E
.
$
58,652
7,157
52,839
21,954
8,595
8,142
7,139
38,592
10,99-1
5,778
4,497
5,009
419
84,442
15,536
47,986
23,200
20.122
4,393
7,954
7,187
38,886
11,665
4.870
5,428
99,978
52,379
21,000
23,950
340,191
35,991
6,044
13,883
29,350
1,224
326
188
48
294
667
908
2,200
3,828
368,435
39,814
28,244
3,823
5,047
12,291
997
1,592
3,924
3,976,419
4,016,549
253,497
BtL. Alt.&T. H., M. Line.
St. L. Alt. & T. H. Brchs..
Tol. Peoria A Western
33,562
230,230
10,669
4,425
(13,880
15,621
28,698
Total (77 roads)
Ret decrease 000 p. c)...
211,327
31,084
39,984
34,049
17,738
11,697
Pittsburg A Western
Decrease.
9
47,983
8,381
13,092
Cin. Wash. A. Balt
Cleveland Akron & Col...
Cleveland & Marietta
Col. & Cin. Midland
East Tenu. Va. A Ga
Flint & Pero Marquette..
Florida Ry. A Nav
Georgia Pacifio
Grand Trunk of Canada..
Houston & Texas Cent...
Keokuk & Western
Little Rock A Memphis...
Memphis & Charleston..
9
3,055,80*)
26,379
...
Increase.
3,036,902
53,165
Vicksburg & Meridian..
Vicksburg Shrev. & Pae.
1,734
11,286
487
3,858
293,627
40,130
Net Earnings Monthly to Latest Dates.—The tables follow¬
ing show the latest net earnings reported this week, the
returns for each road being published here as soon as received,
but not kept standing from week to week.
ary 1, 1888; following that we give the totals for the fiscal
year on those companies whose fiscal year does not correspond
with the calendar year. '
MONTH AND CALENDAR YEAR.
-
Fibruary.
1888.
$
Roads.
*
1887.
$
Gross. 1,069,000 1,236,463
Net
291,000
490,106
..
-Jan 1 to Feb. 29.1888.
1887.
$
2,140,483
609,314
1,817.782
$
£
£
£
£
Grand Trunk of Can. .Gross.
244,200
476,038
511,166
Net...
41,348
48,541
10,022
267,939
62,534
46,419
/ ,48<j
16,873
Det. Gr. Ilav. & Mil.Gross.
Not...
Oregon Imp. Co......Gross.
Net...
15,135
2,089
$
384,745
65,760
2,141
232.590
35,746
1886.
1887.
510
533
554
19,213,251
Rate per pass. pet m.
Freight (tons) car’d.
412,452
388,087
19.151,534
400,269
19,580,000
26,703,579
3*362 cts.
3*027 cts.
3 122 cts.
3*011 cts.
892,512
1.199,790
Rate v er ton per m..
1 202 cts.
0*741 cts.
0*655 cts.
0*635 cts.
Earnings—
Passenger
Freight
Mail, express, &c
9
521,192
2,025,087
164,875
$
458,445
$
486,231
9
685,257
2,138,120
174,555
2,590,827
174,998
3,405,220
164,317
2,711,154
$
2,771,120
$
3,252,056
9
312,587
174,716
551,714
4,254.794
$
Total gross
558.951
2.208,688
1,555,867
.171,773,275 295,788,872 403,00^,908 541,917,945
earn’s.
Operating expe'sesMalnte’ce of
way,&c
232,977
Mainte’ce of equip’!.
Motive pjwer
Transports expen..
General
116,087
409,533
539,134
219,127
576,237
686,840
48M88
25\834
687,265
899,000
223,993
235,053
155,493
Total (inel’g taxes)
1,516.858
1,194,296
1,649,291
1,121,829
1,960,910
1,291,146
2,483,780
1,771,014
55*9
60*0
Net earnings
P.o. of op. ex. to earn
'
255,149
138,838
455,074
60*29
58*38
INCOME ACCOUNT.
1884.
Receipts—
Net earnings
Other
$
1,194,296
188?
$
1,121,£^9
receipts
Total income
Disbursem en ts—
Inter, on bonds, &c..
Miscellaneous
Total disbursem’ts.
1886.
$
1,291,146
34,303
1,880,511
9
1,237,134
7,8 i9
1,121,829
$
9
1,139,991
55,699
1,325,449
9
1,184,547
9,239
1,195,690
1,193,786
953,436
sur.240,8 60
$
1,771,014
109,497
1,194,296
953,436
1887.
def. 73,861 sur. 131,663
1,244,983
635,528
Jersey Railroad.
ending December 31, 1887.)
The annual report refers to the merger and consolidation
as follows: ‘ For the purpose of securing a more effective
management of your branch roads, simplifying their accounts,
and generally advancing the interests of the several Jmes, it
was deemed wise to merge and consolidate the Salem and the
Swedesboro railroads ; also the Salem Branch, the West Jer¬
sey Terminal, the Maurice River and the Woodstown &
Swedesboro Railroads into the West Jersey Railroad. It will
471,937
Net...
1885.
503
oper’d.
Operations—
Passengers carried.
Passenger mileage..
1,071,192
976,411
787,890
1884.
Miles ow’d A
2,549,055
Net...
Chic.&G randTrunk. G ross.
i^given below. The full report of the President, Mr. F. J.
Kimball, gives many details concerning the property in all its
departments, and this report will be found at length on subse¬
quent pages; the balance sheet of D^c. 31, 1887, is also given
with the report.
The comparative statistics for four years have been com¬
piled for the Chronicle as follows:
Balance
Cent, of N. Jersey.,..Gros°.
776,531
302,989
(For the year ending December 31, 1888.)
An abstract of the figures in comparison with previous years
The first state¬
ment includes all roads for the latest month and from Janu¬
11,788
30,955
10,518
257,133
103,205
Rome Watert’n A
162,430'
of April.
Atch. Top. &S. Fe
Net...
Cleveland A Canton..Gross.
Net...
Nash. Chat. A St. L...Gross.
Net...
/
Including Indianap. & St. Louis.
covering 77 roads, is
27,026
18,128
88,775
34,725
9
386,216
1887.
Cape Fear & Yad.Val. Gross.
*'*'8bi
1.798
$
436,505
Road8.
14,916
c.).1
For the first week of
-March.
9,882
59,853
10,711
31,697
100,003
92,294
24,142
104,062
Wheeling & Lake Erie
11,175
2,550
2,050
..
78
628
18,820
16.850
2,700
Ash. & Spar. Div
*St. L. Alt.&T. II ,M. Lines
St. Louis Ark. & Texas...
St. Louis & San Fran
St. Paul A Duluth
Texas & Pacific
Toledo A. A. & No. Mich..
Toledo & Ohio Central
Wabash Western
Western N. Y. & Penn
Total (51 roads)
Net increase (5 77 p.
187
5,047
2,775
262,250
37,281
24,223
67,865
55,777
67,947
11,375
28,281
.
2,344
3.854
1,868
Louisville & Nashville....
Louisville N. Alb. & Chic.
Louisville N. O. & Texas
Mexican Central
Milwaukee L. Sh. & West
Milwaukee & Northern...
New York & Northern....
New York Ont. & West...
Norfolk & Western
Northern Pacific
Ohio & Mississippi
Peoria Dec. & Evans
Net.
So. Pac. Co. Pac. sys.Gross.
Net...
Total of all
Gross.
Net...
Wabash Railway
Gross.
Net...
$
$
224,059 201,640
75,285
75,120
2,542,875 1,570.? 30
897,076 510,328
3,462,791 2,239,619
1,152,167
593,111
428,540 438,436
81,874
139,793
1888.
46,153
..
Roads.
Rome Watert’n <fe Og.Grosa.
£1,100
17,822
Other lines
Kanawha & Ohio
Keokuk & Western
Kingston <fe Pembroke
9
14,983
10,207
43,094
12,849
..
*
9
,—Jan. 1 to Feb. 29.-%
1883.
1887.
,
1887.
1,391,109
477,960
77,239
103,708
101,489
20,981
31,773
3,651
95,048
17,197
33,634
727,624
104,686
495,941
60,917
3,879
West
(For the
year
sur.
be remembered that your company
and Swedesboro railroads, paying a
held under lease the Salem
fixed rental therefor, based
ital, which has developed some
ing exclusively.
their bonds and capital stock,
the other roads named,
therein. An agreement of mer-
dividends
upon interest and
on
and that it operated under contract
and was a large stockholder
fer
andboards
consolidation
w&s therefore
and enteredunder
into
y the
several corporations,
of directors
of the negotiated
date of October 25, 1837, which was submitted to the share¬
holders of each of the companies at a meeting called for the
purpose, and was duly ratified. The new consolidated West
Jersey Railroad Company came into existence on the first
day of January, 1888.”
Comparative statistics for four years, compiled for the
Chronicle, are as
follows :
FISCAL RESULTS.
earnings... 1.319,648
816.343
Op.expenses and taxes
Total gross
398,874
103,093
1,286,012
1,352,458
503.305
.
920,585
429,273
850,191
101,499
380,190
103,862
$
$
'
800,185
381,323
825.590
Freight
Mail, express, etc
198
$
$
Earnings—
1887.
209
1885.
1885.
200
1884.
200
this week prevents the Chronicle from
publishing much more than the income account for the late
fiscal year, but it is possible that extracts from the report of
the President, Mr. Nathaniel Baxter, may find space in the
Chronicle of next week, April 28.
The stock remains unchanged at $10,000,000. Of the bonded
debt the report says: “During the year we have realized on
$4,851,650 ofthe $10,000,000 Ensley L ind Company stock, and
applied the money to the purchase and cancellation of bonds.
We have also sold the Helena Mines for $145,000, and lodged
with the Pratt sinking fund trustees the $60,000 cash and
$85,000 of notes; and the cash has been applied to the pur¬
chase of bonds.”
These transactions, together with smaller
land sales, and the regular sinking fund payments, have
affected the bonded debtby the retirement of $1,882,000 divi¬
sional bonds, while Tennessee Division bonds for $1,181,600
were issued, making a reduction in bonds afloat of $700,400.
profit and
119.357
849,134
976,257
476,627
503,274
492,958
1888.
Jam 31—To
.
.
.
Disbursements—
Rentals paid
Interest on West Jer.
.
debt.
,.
0
.
Rate ot
dividend
..
..
$
$
$
Receipts—
Net earnings
503,305
11,966
476.02 7
515,271
490,625
$
14,003
41?270
175,174
90,668
87,788
39,003
175,174
81,990
89,113
6 p. c.
6 p. C.
£24,624
513,S15
$
39,154
90,652
89,142
1887.
Jan. 31—Balance
112,524
Oct.
Line
1888.
Jan. 31—This year’s profits,
Nashville Oitice
Tracy City
Western.
<£ Toledo.
Pa insville
<£• Fairport.
$887,479
$335,933
$114 078
$171,687
$69,757
Cleveland
$392,277
270,454
Not earnings
Interest charge
$121,S23
Balance...
$242,724
viz.:
$60
Division
—
Birmingham Division
Pratt Mines
138,400
94,709
60,911
54,612
200,931
$626,976
185,721
Division
$1,008,100
Balance
ward
unappropriated brought for¬
$401,747
Pittsburg
Pittsburg
Pittsburg tfi
undivided
Cowan Division.
:
South Pittsburg Division
months ending February 20, 1888.)
This company was reorganized in 1887 and came into pos¬
session of its present owners for operation on the 1st of July.
The gross and net earnings and interest charges on each
division of the property were as follows for the tight months
(For the efght
1888:
brought forward of
protits from last liseal year
1—Protit on sale of interests in and con¬
nected with the Ensley Dummy
Pittsburg & Western.
ending Feb. 29,
226,774
404,747
$1,008,1CO
401,291
401,140
123.434
$376,578
98,300
Cr.
6 p. C,
6 p. C.
14,530 $278,278
Bond pron'um account (re¬
funding;
Balance unappropriated....
20,857
182,343
viz :
$203,748
Dividend, No. 1, paid
$
492.058
$
41,745
180,174
90,081
89,140
385,375
105,250
394,900
120.371
.
50.5,274
21,350
31, 1888.
interest paid during year,
Coupon interest
Miscellaneous
1837.
1836.
1835.
year ending jan.
loss account for
Dr.
1,469,215
809,38 5
other field than railroad build¬
The limited space
INCOME ACCOUNT.
1884.
[VOL. XLVI.
CHRONICLE
THE
510
90,000
33,333
$18,678
$36,424
GENERAL INVESTMENT NEWS.
Baltimore & Ohio.—The directors held their monthly meet¬
ing on i he 18th. The net earnings for the month of March were
$366,729, against $544,837 for 1887, a decrease of $178,108. Of
of the Ohio River.
six months up to
April 1st is as follows: Earnings, $9,907,080; expenses,
$7,267,242. This is a decrease of gross earnings of $116,074,
29, 1888.
compared with the corresponding period of 1886-7, and an in¬
Dr.
crease of expenses of $313,533.
The decrease in net earnings
Fstate Pittsburg A: Western Railway Co....;
$21,132,080 for the six months against the same six months of 1886-1887,
34,010 was $429,607,
Additional construction
Additional equipment
03,175
The dividend on the common stock was passed and a resolu¬
Pittsburg Cleveland A- Toledo HR , balance due for ad¬
vances under lease
351,918 tion offered by Mr. Gorman was adopted, providing for the apPittsburg Painesville A Fairport RR., balance due for ad¬
intment of a committee consisting of Messrs. William Keyser,
under lease
53,089 pJames
L. McLane, George W. Dobbin, Thomas M. Lanahan,
Stocks and bonds of other companies:—
and A. P. Gorman, to make a thorough examination and to
Roxburgh Bridge stock
$50,000
150,000
Pitts. A-" Northern llli sto k
report to the board the exact financial condition and the value
Trumbull A M. RR. stock
500,000
of its properties, and to make such recommendations as it may
bonds
250,000
isBued for the fractional year,
Feb. 29, 1888, was as fol¬
No general report has been
but the condensed balance sheet on
lows:
COJi DENSED BALANCE-SHEET, FEIL
vances
this decrease, $162,814 was on the lines east
The summary of the entire system for the
-
“
“
Pittsburg
132,000
Painesville A Fairport pf. stock...
500.000
19o,921
82,7' 9
173,301
$1,082,000
Special interest fund to meet July,
Supplies on hand
Accounts receivable and cash
1888, interest
$22,582,838
Cr.
Capital stocks:—
$7,000 000 >
Common
Preferred
Funded debt:—
P. N C. A L F., 1st mortgage
Pittsburg A Western RR. Co., 1st
Ry. Co ,
Real estate mortgages....
5.000,0^0
mortg...
payable
Accrued interest on funded debt to
Fro tit and loss:—
Net earnings for 8 m ntlis
Less interest—
Paid
Accrued
9,825,935
310,208
252,170
72,0 j5
$392,277
for eight
121,823
Cleveland A Toledo RR. Co. and to
Pittsburg Painesville A Fairport RR. Co. were made prior to the reor¬
ganization of tlie Pittsburg A Western RR. Co. on July 1, 1887, and
have been considerably reduced since that date.
Note.—The advances to Pittsburg
& Railroad Co.
(For the year ending January 31, 1888.)
This company, so prominent among Southern industrial
enterprises, hss just issued its annual report for the year end¬
ing January 31, 1888. It is worthy of special notice as a com-,
pany under strong and able management, with abundant cap¬
18S8.
$1,855,926
1,311,0*9
$1,555,964
1,189,235
$10,023,154
$544,837
$360,729
$3,009,445
Net
0,953.709
Ma'-cli 31—»
188 7-8.
$9,907,080
7,207,242
$2,039,838
Ashuelot road.
Denver & Rio
Grande.—Mr. George Coppell, Chairman of
has issued a circular to stockholders,
the board of directors,
showing that the company since July 12, 1886, has spent upon
its improvement and development over $6,300,000.
By the
laying of a third rail the road is now a standard
Denver and Trinidad, and for a part of
Pueblo to Leadville.
It only remains
to complete this section and to spread the rails between Rock
Creek, Glenwood Springs and Aspen, to have 500 miles of
standard guage road.
It is absolutely necessary for the well¬
gauge between
the way from
270,454
$22,582,838
Tennessee Coal, Iron
~-Six in os. ending
1880-7.
1887.
Connecticut River road will hold
special meeting in Springfield, May 4, to authorize an in¬
crease of capital and take other steps to consolidate with the
175,935
Surplus over interest and other charges
months ending February 29, 1888
Earnings
Expenses
and for the six months
Connecticut River.—The
81,000
$197,819
72,035
■March
the company.
earnings on all lines
a
9,350,000
March 1, 1888
operated for March, in 1887 and 1888,
ending March 31:
12,OCO,000
$219,000
Lease -warrants
Accounts
>
deem b ^st for the belt r organization of
The following is a summary of the
being of the property that,this work should be completed.
For these and other necessary improvements there are only
two methods of providing funds: either to use the net earnings
of the railroad, or to create a small improvement mortgage
subordinate to the consolidated mortgage.
In the former case
it will be impossible to maintain dividends upon the
But if the stockholders consent to the creation of a 5
stock.
preferred
per
to the extent of $5,000 per
mortgage,
Therefore
meeting in Dv nver, May 22, the stockholders
cent improvement mortgage
mile on the property covered by the consolidated
the directors believe the resources will be sufficient.
at the
annual
April 21,
THE
1888.]
will be asked for authority to create this
gage, of which $3,000,000 shall be issued
—A
CHRONICLE.
improvement mort¬
immediately.
special meeting of the Denver & Rio Grande stockholders
will be held on the same day to consider an agreement
between the Denver & Rio Giande and the Chicago Rock
Island & Colorado R. R. cos. for the joint use of the tracks
and property of the Denver
and South Pueblo, Col.
& Rio Grande between Denver
Flint & Pere Marquette.—A Boston report says : “ Trustees
& Pere Marquette Road will pay off the last
$300,000 of land grant bonds May 1st.
They can then
of which
turn over to 'the company $1,500,000 assets,
$1,000,000 will be cash. Annual meeting occurs May 1G.
of Flint
of Stocks and Bonds.—The General
Quotations of Stocks and Bonds formerly published on the
General Quotations
each month, occupying six pages of the
pages and
they will hereafter be published on the third Saturday
of each month. These General Quotations will next appear,
therefore, on Saturday, May 19, and after that on the follow¬
ing days in 1888, viz.: June 16, July 21, August 18, Septern
ber 15, October 20, November 17 and December 15.
first Saturday of
Chronicle, will
be found to-day on previous
.
Georgia Pacific.—The Georgia Pacific Railway Company
privilege of subscribing to a loan
of $2,520,000 for the completion of its line between Columbus,
Miss., and Greenville, on the Mississippi River. Transfer books
close April 26 and reopen May 3.
The holders of over
$4,500,000 second mortgage income bonds and interest certifi¬
cates having assented to the plan for funding their holdings
as proposed, it has become binding on the company, and the
Central Trust Company is now prepared upon delivery to
them of the bonds and certificates to issue their negotiable
receipts for the same, pending preparation of the new bonds.
offers to its stockholders the
Louisville
&
Nashville.—The
&
Louisville
Nashville
Company has sold, through Messrs. Kuhn, Loeb & Co., R.
Raphael & Sons and E. Cas3el, of London, and Wertheim &
Gompertz, of Amsterdam, $3,000,000 five per cent first mort¬
gage trust bonds, due 1931, secured upon the Birmingham
Mineral and Owensboro & Nashville railways.
The issue is
limited to $7,000,000, the above being all that was offered for
sale, or that will be offered for some time. -
511
May 1—Hannibal Sc Central Missouri
$21,300
International Sc Great Northern
240,495
June 1—Missouri Kansas & Texas genl. mortgage.. 771,570
Tebo Sc Neosho..
I...... 12,110
$270,855*
783,<>8<P
July 1—Union Paeilie Southern Branch
Aug. 1—Missouri Kansas Sc Texas tirst consolidated
Total...
01,020
520,095..$1,030,850
During the past year the credit of the company has been
severely shaken and its earnings largely diminished, owing
to the following causes, viz.:
Firstly, diminished earniDgs from the failure of the com
crop in Missouri and Kansas,
Secondly, the construction of three new lines into Texas,
viz.: The Atchison Topeka & Santa Fe, the St. Louis & San
Francisco and the St. Lou;s Arkansas & Texa\
Thirdly, the income bond litigation during the past two
decis¬
years which pressed the company and compelled it by
ion of the courts to settle with the income bondholders.
Mr. Gould then remarks: “On my return a few
since from an absence abroad it was announced in the
weeks
public
prints that a syndicate of great financial strength had taken
hold of the affairs of the Mo. Kan. & Texas C\, and that a
board of directors of equally strong Earn^s would be presented
for election at the coming annual fleeting of stockholders.
This movement met my cordial approbation, and I cheerfully
decided to make no opposition.’’ * * * *
“ It is my duty,
under these circumstances, to present the foregoing facts to
you, as, if it should be decided by your board to hereafter adhere
strictly to the terms of the lease, prompt notice to that effect
should be given to the Board of Directors of the Missouri Kansas
& Texas Railway Company, in order that the necessary financial
arrangements may be made elsewhere for its immediate interest
requirements in excess of the net earnings of the road.”
Mobile & Ohio.—Assenting holders of Mobile & Ohio
debentures are requested to transfer and deposit them with the
Farmers’ Loans Sc Trust Co., for which they aie prepared to
issue certificate of deposit, under and in conformity with the
plan of readjustment, to which the holders of r.O per cent have
assented. Due notice will be given when the new’ 4 per cent
mortgage bonds are ready for delivery.
Nashville Chattanooga & St. Louis.—A special dispatch
to the Herald from Chattanooga, Tenn., says:—“ The Nash¬
ville Chattanooga & St. Louis Railroad has filed a twenty
million dollar mortgage for record in this countv to secure
the payment of bonds for that amount on April 1, 1928, to the
Elevated.—Judge Barrett of the Suprem6
given a decision favorable to the Elevated Roaa in its United States Tiust Company of New York. Cf the money
fight with owners of abutting property. Peter Kearney and received from said bonds, $10,807,000 will be used to liquidate
others, owners of the building No. 141 West Fifty-third Street, outstanding indebtedness, $12,307,000 will be issued forthwith,
recovered a judgment in the Superior Court against the Metro¬ and the balance as soon as authority can be obtained from
politan Elevated Railroad for depreciation of rental values. the stockholders. The surplus is to be used in building
The jury also assessed the value of the easement at $9,000. branches and for
improvements and additional rolling stock.”
The railroad company applied to the Supreme Court for the
The statement for March and the nine months ending March
appointment of commissioners to appraise the value of the 31 shows the following :
property. The property owners claimed that the matter had
March
,—July 1 to March 31.—%
1888.
1887.
1888.
1887.
already been adjudicated in Superior Court. In his opinion
$257,133 $245,733
$2,378,412 $2,057,25(5
granting the application of the company, Judge Barrett said : Gross earnings
148,038
1,341,047
1,188,145
The suit in the Superior Court is not a bar to the proceed¬ Operating expenses.... 153,928
The
Court
there
that
the
owner’s
interest
ing.
simply found
$869,111
$97,095
$1,037,365
Net earnings
$103,205
had been depreciated in a given sum and that an injunction Interest, ami taxes
$540,000
$61,202
$561,682
$62,740
111,180
0,37b
8,005
should run against the companies unless they chcse to pay Improvements
18,668
such sum. The companies are not bound to accept this condi¬
$610,37(5
$69,207
$672,862
Total
$81,408
tion, They may, if they choose, proceed under the statute.”
$258,735
$364,503
$27,888
Surplus
$21,797
Richmond & West Point Terminal.—The directors of this
Missouri Kansas & Texas.—There was a report in circu¬
lation that the management of the Kansas & Texas Company company have elected Mr. John H. Inman President, to
succeed Alfred Sully.
The board decided to call a meeting
had filed for record in Missouri a new mortgage for $10,000,
of shareholders at Richmond on May 31 for the purpose of
000 on its lines.
But Mr. E. E. Anderson, counsel for the Pro¬
tective Association, made the following - statement : “The having the future management of the company decided upon.
The transfer books for the purpose of this meeting will be
instrument referred to as being filed at Missouri points is only
closed on May 20 and wall be reopened on June 1.
a declaration subjecting the equipment purchased with $2,000,
-Messrs. William Libbc-y, E.W. Clark aud Isaac L. Rice, who
000 of the company’s consolidated mortgage bonds to the lien
represent
the stockholders opposed to the present management,
of the consolidated mortgage.”
Other members of the Pro¬ have issued
a pamphlet replying in dtt iil to the circular pub¬
tective Association said that no newr mortgage could be issued
lished on the 7th by the officers of the company.
This pamphlet
without a vote of the company’s stockholders.
may
be
o
tamed
at
the
Farmers’
Loan
and
Trust
Company.
The proposed new board of M. K. & T. is composed
The board of directors now proposed by these gentlemen,
of the following
gentlemeD, viz.: Messrs. E. E. An¬ and for which they will solicit proxies for the election on May
derson, W. L. Bull, R. Y. Martinsen, William Dowd, Simon 31st proximo, is as follows: August B-lmont, Jr., Robert
Sterne, W. E. Strong, William Mertens, J. De Neufville,
William Bond, Samuel Sloan, George J. Forrest, of New Colgate, W. S. Gurnee, H. B. Hollins, John Hone, Jr., H, Yam
Rensselaer Kennedy, Rudolph Keppbr. Frederick N. Lawrence,
York, and David Keiso, L. H. Pratt, H. C. Cross, of Kansas, Emanuel Lehman,William Libbey, F. H. Lovell, Isaac L. Rice,
John Montgomery, of Missouri, and W. S. Herndon, of Texas.
all of New York ; E.W. Clark, Philadelphia ; Thomas Janneyy
Missouri Pacific—Missouri Kansas & Texas.—At a specia1 Baltimore; E. P. Alexander, Savannah; A. L. Tvhr, xYlabama,
meeting of the Missouri Pacific directors on Thursday, Mr.
Wabash.—The report of Mr. John McNulta, Receiver, gives
Jay Gould, the President, submitted a report concerning the thfr following income account for February, 1888 and 1887 :
Miseouii Kansas & Texas Railroad, which the directors took
1887.
1888.
$438,435
under advisement without further action at the time. In the Gross carnings
$428,539
298,643
statement presented the main points 'were as follows : That Operating expenses
346,666
the M. K. & T. Railway has been operated since Dec. 19,
$139,792
Net earnings
$81,873
$14,240
1880, by the Missouri Pacific Company under a lease for 99 Track rentals
$14,122
15,484
23,220
years, the amount of rental being the surplus net earnings Car trust charges
19,10L
20,762
derived from the operation of the railway, at ter applying them Proportion of taxes
first to the payment of interest on the various classes of bonds,
$90,66(5
Net income
$23,762
puring the past eight years the bondholders have received their
The decrease in net income is to be accounted for as follows:
interest, and at the esme time out of earnings the lessee has Difference in car trust charges
completed the main line with steel rails at a cost of $2,502,342. Difference in taxes
1,360
The Missouri Pacific has during periods of light earnings Expense of re-building ears in^February, 1888. No such work
done in February, 1887
made advances necessary to meet current interest, relying upon
9,89b
future earniDgs for reimbursement, and has thus advanced Decrease in gross earnings
about $800,000, and additional large advances will be required
The remainder of difference is to be accounted for by accounts
to carry the company along until improved earnings can be I incurred prior to February, 1888, not allowed and entered until
realized. In the meantime the following interest payments | in that month. In January, 1887, the Receiver started with
must be met, viz.:
clean sheet, assuming no liabilities prior to that time.
Manhattan
Court has
,
>
“
i
__
^
3881
4
THE
512
5881
PASSENGER TRAFFIC.
%epoKis anti Jlocttmettls.
NORFOLK & WESTERN
SEVENTH ANNUAL REPORT
Local.
'
-1885
Company:
i hro\
Total,
12,806
215,904
14,834
263,347
307,927
$
$
!362,082
herewith submits its report of the
operations of the Company for the year ending December 31,
>535,597
The Board of Directors
Through.'
Local..
j
1
203,098
>248,513
'289,511
390,199
'365,896
1881
18K2
Railroad
the Norfolk & Western
Earnings.
|
i
ENDING
DECEMBER 31, 1887.
To the Shareholders of
Passengers Carried.
RAILROAD.
FOR THE YEAR
[»ou XL\I.
CHRONICLE.
18,410
16,253
22,191
18,187
23,354
329,137 86
369,637 40
403.477 25
448.478 84
Total.
131,193 52 575,494 95
135,649 00 621.358 81
124,710 51 645,902 07
121,823 34 579.768 73
125,132 11 611,363 48
126,834 43 812,09106
74,604 03
82,327 56:
72,712 72 j
387,687 02 70,757 771
422,811 42 63,419 98
590,669 49 94,587 141
412,452
388,087
400,269
558,951
$
%
j
87,681 22’ 122,268 10 519.087 18
FREIGHT TRAFFIC.
1887:
3688811
Tons of
PROPERTY.
high standard’to which your property has been brought
was maintained throughout
the year, and many permanent
improvements were made, including 23*65 miles of sidings
and yards, and the enlargement of old and construction of
new
stations.
and iron operations,
constructed and put into opera¬
Eight branches and extensions to coal
aggregating 14*7 miles, were
tion towards the close o?the year. The average mileage oper¬
ated during the year was 527 miles.
The length of completed
line at the close of the year 1887 was 554 2-10 miles, as fol¬
lows :
403-3
Line, Norfolk to Bristol.
City Point Branch
Main
10
9-5
Saltville Branch.
New River Division:
Radford
miles.
75
16-7
“
to Pocahontas
Branches to coal
mines
Thro1.
Local.
The
Earnings.
Freight Carried.
Local.
Total.
1
$
1881
1882
1883
1884
359,262 178,840
1886
1887
1,266,001 289,260
1,829,510 379,172
417,140 192.587
539,906 .'57,349
660,871 231,041
957,709 242,0s 1
Mite.
| Ihrough.
991,174 67
538,102
609,727 1,092,888 96
797,255 1,198,600 42
892,512 1,235,037 64
1,199,790 1,453,124 01
1,555,807 1,778,457 28
2,208,088 2,531,531 27
$
740,007 23
749,494 35
983,110 50
790,049 02
684,995 97
812.309 36
873,080 84
$
11,019
11,861
9,711
40,164
53,232
49,806
37,482
Total.
$
54 1,748,201 44
80.1.854,24517
80,2,191,422 78
5412,065,251 20
1612,191,35214
49! *,040,09313
86:3,442,702 97
It will be noted that the increase of 652,821 tons in the traffic
for 1837, as compared with the previons year, is more than the
entire freight traffic of the company for the year 1881.
increase in business was rendered possible from the additions
This
continuously made during the year to
the rolling stock and
facilities of the company, which included 47 locomotives and
1,434 freight cars, and 22*65 miles of yards and sidings, but
even these extensive additions proved inadequate to meet the
demands, and better results
could have been obtained had
still additional equipment been provided.
The local traffic and earnings continue
to represent an in¬
of
creasing
proportion
the
aggregate
traffic
and earnings. In
Branches to ore mines
5-9
“
1830 the earnings from local traffic were 57 per cent of the
12G-4
total earnings, while in 1887 they were 76 percent of the total.
As compared with tlio previous year the earnings per
Total
554 2
passenger per mile decreased
*1 moo of a cent.
Sidings.
119-05 The
expenses per passenger per mile decreased
-10iooo
“
In addition to the above, there is under construction :
And tlie profit.
“
“
increased
,... ^iooo
“
The earnings per ton of freight per mile decreased
Miles.
20iooo
“
The
expenses
“
“
“
19iooo
“
“
Clinch Valley Extension, about
115
“
“
1iooo
“
“
Cripple Creek
“
1*7 And the protit “
Elkhorn
“
8'6
The development of the mineral traffic of your line prac¬
tically commenced in 1882, during which year there were
ROLLING STOCK.
transported 48,311 tons. The growth of this class of local
traffic, which in 1887 amounted to 1,417,549 tons, is shown in
The additions made during the year 1887 to the rolling stock
the following table :
of the Company consisted of
28*8
Cripple Creek Extension
“
:
■
'
47 Locomotives.
13
Passenger cars.
1,434 Freight cars.
At the close of the year
150 Locomotives,
i
nssonger cars.
5,189 Freight cars.
400 Caboose and other road cars.
Coal
Coke
Stone and marble.
Salt
Plaster
Zinc ore
Zinc snelter
Gross
$4,254,794 03
:
Operating expenses, including taxes
Proportion of expenses to earnings, 53 per cent.
Net
2,483,780 -21
$1,771,013 82
101,047 93
earnings
Other income—interest,
dividends, etc
$1,872,001 75
Fixed charges—
Interest on funded debt
Interest
on
car
Total interest
trust
1.
obligations
...$1,134,497 33
102,030 85
I IThe results of operating your lines for a series
shown by the folio ving comparative statement:
Cross
Earnings.
$
2,267,288 62
2,429,740 12
2,812,77(5 59
2,711,153 27
2,771.120 87
3,252,056 59
4,254,794 03
The growth of the traffic
from 1881 to 1887 is shown
Opei'ating Ex¬
of years are
Totl8.
3,405
2,872
1,048
4,939
128,696
4(5,642
05,851
28,591 23,209 34,917
54,552 153,229 499.138 739,018
23,702 50,3601 4 8,571 59,021
20,217 27,718- 15,623 24,451
11,482 13,238; 13,495 15,820
4,272
4,405
4,070
4,214
51,915
24,(511
.
490
96
GS1
125
7 o«>o
’
48,3111198,947
.....
49,3021 00,825
19!
1,100
380
151,171
30,948
13,256
5,155
7,424
1,153
598
13
1,00s
839
25(5
1,1(58
13,095!-l 17,810
992,260
762
40,082
15,919
317,370 685,271 961,360 1,417,549
456,183
150,030,148,429,337,895 270,095
COAL AND COKE TRAFFIC.
The quantity of coal and coke transported over your line
during the year 1887 (including 165,163 tons used by your
company) amounted to 1.308,594 tons, an increase of 378,959
tons, or 41 per cent, as compared with the previous year.
The development of this class of traffic is shown by the fol¬
lowing statement:
Tons.
.
1885
105,805
272,178
651,987
1887
929,635
1,308,594
-
The growth of the tide-water coal traffic,
is shown in the following statement:"
$
1,163,232
1,322,576
1,509,573
1,516,858
75
63
56
34
1,649,291 68
1,960,909 36
2,183,780 21
$
1,104,055 87
1,107,163 49
1,303,203 03
1,194,294 93
1,121,829 19
1,291,147 23
1,771,013 82
beginning in 1885,
•
Tons.
373,240
569,349
741,875
The increase in the number of ocean steamships coaled'at
Lambert’s Point Pier is shown by the following comparison:
1885
1880
Net Earnings.
and revenue daring the period
separately for passengers and
freight in the following tables :
1887.
Tons.
9,270
Total
Increase over pre¬
vious year
Steamships.
penses.
1881
1882
1883
1884.
1885
1886
1887
1880.
1,237,134 18
charges
Surplus for the year 1887
$635,527 57
As compared with the previous year the
gross earnings increased
$1,002,737 44, or 31 per cent
The operating expenses, Including taxes,
increased
522,870 85, or 27 por cent.
And the net earnings increased
479,800 59, or 37 per cent.
Tear.
1885.
j Tons.
6.181
Other minerals
earnings
•
Tons,
•
Manganese
REVENUE.
1884.
Tons.
1,399
13,372
4,735
Pig iron
the Company had in service :
1883.
Tons.
.
Iron ore....
45 Caboose and other road cars.
18S2. -
45
95
161
There has also been a large increase in the demand for Line
Trade coal for domestic purposes, manufacturing establish¬
and other local consumption, the increase for the year
compared with the previous year, being 50 per cent.
Of the many new coke ovens under contract, 392 were com¬
pleted during 1887, and at the close of the year 648 ovens were
in operation.
The coke shipments for the year amounted to
151,171 tons, an increase of 156 per cent over the previous
ments,
1887,
7
as
9
THE
April 21, 188b.,
513
CHRONICLE
In accordance with a resolution
adopted at
your
last annual
More than 1,000 additional ovens are in process of con¬ meeting, the privilege of purchasing the 40,000 shares of pre¬
struction or under contract.
ferred stock was offered to the preferred and common share¬
Owing to its conceded superiority, the demaud for the Poca¬ holders, and such privilege was availed of to the extent of
hontas Flat Top coke has greatly increased, and the market 26,005 shares, the remainder being taken by the syndicate.
for it has steadily enlarged. It is expected that constant addi¬
The net amount realized from the sale of these securities
tions will be made to the number of coke ovens, so that the was
$4,175,625, of which $1,500,000 was reserved to provide
production will keep pace with the demand.
equipment, the remaining $2,675,625 being for the construc¬
year.
ORES AND IRON.
tion of the Clinch Valley Extension. Of the $1,500,000 re¬
served for equipment, $500,000 was deposited with the Trus¬
tee for the purchase of equipment required by the Clinch
The development of the mineral properties upon the com¬
pleted portion of the Cripple Creek Extension, and at other
points upon your line, has added largely to the ore traffic of Valley mortgage
the Company.
.
The shipments of iron ore were 128,696 tons, an
62,845 tons, or 95 per cent, as compared with 1886,
The movement of zinc ores,
upon
which practically
the opening of the' Cripple
increase of
commenced
Creek Extension for traffic,
amounted during the year to 7,424 tons.
There is reason to believe that the development
of iron, zinc
favorably
and mangane-e ores and their products,will compare
with the development of the coal trade of your line.
The furnace of the Pulaski Iron Company at Pulaski
was
completed at the close of the year. The furnace at Ivanhoe,
the Cripple Creek Extension, and that at Lynchburg,
are approaching completion, and will commence operations
early in the coming year.
The Bertha Zinc Works have completed and put into opera¬
tion 10 zinc furnaces, and the Wythe Lead & Zinc Company
have erected 2 zinc furnaces upon their property on the Crip¬
ple Creek Extension.
upon
The Roanoke
Rolling Mill Company has been
organized and
capital subscribed for the erection at Roanoke of a rolling
mill for the manufacture of bar iron, axles, &c., and it is ex¬
pected that early in the coming year work will be commenced
and vigorously prosecuted, and the mill in operation before
vances;
EXTENSIONS.
specified in
follows:
branches to coal mines...
to ore mines.
$341,896 44
of the Clinch
Valley Extension and Equipment is kept separate and apart
from the other funds of the Company, being deposited with
the Mercantile Trust Company of New York, and the Fidelity
Insurance, Trust and Safe Deposit Company of Philadelphia,
to be paid to the Company as the work progresses.
At the
close of the year the amount unexpended and so deposited,
as shown in the condensed balance-sheet accompanying this
report, was $1,454,755 57.
Work upon the extension was commenced on June 20th,
1887, and it is anticipated that the line will be completed to
Tazewell Court House, a distance of 22 miles, by July 1st,
1888, and that 20 miles additional—to Riclilands—will be in
operation September 1st, 1888.
DIVISIONAL LIENS.
extension until July
interest per annum, of $99,000 con¬
solidated mortgage first preferred 8 per cent bonds, and
$85,500 consolidated mortgage second preferred 6 per cent
bonds of the Southside Railroad Company, which mature
January 1st, 1888.
INVESTMENTS IN OTHER COMPANIES.
270,557 72
324,520 76
174,133 34
7,461 39
Norfolk terminals
equipment costing $865,000
arrangement.
1st, 1900, at 5 per cent
The expeditures during the year for purposes
the Improvement and Extension Mortgage were as
Clippie Creek Extension and sliort branees
Improvements to main line and branches
Principal of car trust obligations
to December 31st, 1887,
had been received by your Company under this
The money provided for the construction
Arrangements have been made for the
FINANCIAL.
New River Division, short
additional security for the bonds issued
ment is now being acquired through an Equipment Trust of
the Roanoke Machine Works,your Company advancing money
to the Roanoke Machine Works to build or purchase equip¬
ment and receiving Equipment Trust Bonds for all such ad¬
the close of the year 1888.
IMPROVEMENTS AND
as
thereunder, of which equipment $389,600 was purchased to
December 31st, 1887.
The remaining $1,000,000 of equip¬
Shenandoah Valley Railroad Company.
The
property of this Company is
still operated by the Re¬
ceiver.
Your Company has a large financial interest in the Shenan¬
34,000 00 doah Valley Railroad Company, owning 30,571 shares of its
capital stock out of a total issue of 36,962 shares, and is a
Total
$1,152,569 65 creditor
to the extent of $335,000. with interest, for money
The total amounts expended to the close of the year 1887 for advanced under contract of December 29tb, 1882, referred to
purposes provided for in the Improvement and Extension fully in the second annual report.
Your management is con¬
Mortgage, including the items mentioned above, were as firmed in the opinion expressed in previous annual reports as
follows:
to the importance to your system of the control, under proper
New River Division, branches to coal mines
.$489,345 56 conditions, of the Shenandoah Valley Railroad.
The development of the mineral resources of your line and
Cripple Creek Extension and branches to ore mines
1,327,151 23
Improvements to main line and branches
842,922 03 the increasing number of its cormectious, including the con¬
Principal of car trust obligations
778,500 24 nection with the Louisville & Nashville Railroad, now under
Norfolk terminals
525,795 91 construction, render it necessary for the proper encourage¬
ment and further growth of your Company’s business that
Rails, fastenings, &c., purchased for improvement and
extensions for 1888
34,000 00 it should be enabled to offer its connections a service equal
to that offered by competing lines ; and to this end it is essen¬
Total
.
$3,997,714 97
Rails, fastenings, &e., purchased for
extensions for 1888
improvements and
.
Amount received from sale of
$3,500,000 of bonds
3,039,002 09
.$958,712 88
Balance
represent this balance, bonds to the amount of $958,000
withdrawn from the Trustee from time to time as ex¬
penditures were made, but inasmuch as the Company had
sufficient means at its disposal from the surplus earnings and
other sources, none of these bonds were sold, and they are now
held in the treasury of the Company as an available asset.
To
were
CLINCH VALLEY
In the last annual
EXTENSION.
report reference was made to the advan¬
tages to be derived by your Company through the construc¬
tion of a line of railroad from a point on your New River
Division to meet an extension of the Louisville & Nashville
Railroad Company’s Cumberland Valley Branch.
Under dates of March 8th and May 2d, 1887, contracts were
made with the Louisville & Nashville Railroad Company, by
which both companies agreed to build as rapidly as practi¬
cable, extensions from their existing lines to a point of con¬
nection in Wise County, Virginia, and these contracts were
submitted and approved at your last annual meeting.
That portion of the connecting line to he constructed by
Tour Company is being built under the charter of the Clinch
valley Railroad Company, which company was consolidated
with your Company on May 20th, 1887.
In making financial provision for the construction of the
Clinch Valley Extension, your Management deemed it expedi¬
ent that the amount provided should be sufficient to include the
cost not only of the rolling stock required for the operation of
the Clinch Valley Division upon completion, but also of addi¬
tional rolling stock required
traffic of your line, and it was
for the constantly-increasing
therefore decided to issue and
dispose of, through a syndicate of bankers,
$2.500,000.—5 per cent First Mortgage Gold Bonds, Norfolk
& Western Railroad Company, Clinch Valley
Division, 70 years, interest payable March 1st
and September 1st, and
14,000,000.—(40,000 shares) of preferred stock,
-
tial to control an all-rail line to the North, and an entrance
into the city of Washington.
The opportunity to secure this,
protect your Company’s financial interest in the property,
and to effect the settlement of all existing obligations and
claims between your Company and the Shenandoah Valley
Railroad Company, was presented through negotiations which
to
were
opened during the year for the reorganization of the
operation of
The plan of
reduction of fixed charges, a
Shenandoah Valley Railroad Company and the
its property by your Company under a lease.
reorganization contemplated a
fund for betterments and improvements,
vision for future requirements and the
claims, legal and financial, between your
Shenandoah Valley Railroad Company.
with suitable pro¬
settlement of all
Company and the
The terms of the proposed lease provided for the payment
rental to the Shenandoah Valley Railroad Company of cer¬
tain percentages of gross earningsj,varying annually
as
amount of such earnings, the minimum rental
amount sufficient to meet the reduced fixed charges
with the
to be an
under the
plan of reorganization.
The gross earnings of the Shenandoah Valley Railroad
Company for 1887 were $902,862 41, and the amount charged
to operating expenses was $773,546 28, leaving as net earnings
$129,316 13. There was, however, expended for renewals of
wooden structures, bridges, trestles, and for other purposes
which would not have been necessary had the property of the
Company been in first-class condition, an amount estimated
to be $110,000.
It seems reasonable, therefore, to assume
that had the property of the Company been in first-class
physical condition the net earnings for the year 1887 would
have been about $239,316.
In addition to the amount ex¬
pended for renewals, as above, there was a further expendi¬
ture for steel rails, iron bridges, and other permanent improvements, of $170,765 82.
There is reason to believe that the traffic ar.d earnings of
the line will steadily increase, that the rental under the proposedjease would be more tnan sufficient to meet the interest
charges upon the proposed new issue of bonds, and that the
operation of the road, if put in first class condition, could bo
THE
514
safely undertaken by
your
Company.
CHRONICLE,
ganization, and in deference to the wishes expressed by some
our shareholders that the matter be deferred, your man¬
agement has deemed it prudent to postpone its further con¬
sideration until the improvements to the property have* been
•effected. and its earning capacity under such circumstances
has been more fully demonstrated.
of
Roanolce Machine Works.
were
or 30 per cent.
The growth of the freight
traffic for one year, that just past, was 21 per cent more
than the total freight traffic of your line during the year of
its organization, in 1881.
The impetus already given to the development of the min¬
eral territory tributary to your line, and the many new indus¬
tries now in progress, justify the expectation that the steady
and gratifying increase in the traffic and revenue of the Com¬
In view, however, of $2,579 to $3,360,
the uncertainty as to the sufficiency of the amount applicable
to the improvement of the property under the plan of reor¬
The works
[Yol. xlvi.
operated to their full capacity during the
year upon repairs to your Company's equipment and in the
■construction of new equipment for your own line and its con¬
nections.
The results from the operations for the year have
■enabled the Company to meet its interest charges and to de¬
clare dividends amounting to $61,305 upon its capital stock
owned by your Company.
The receipts from this source have
been included in “Other income” of your Company.
Norfolk Terminal Company.
The
property of the Norfolk Terminal Company is operated
by your Company, and the revenue derived from such opera¬
tion is included in your gross earnings.
Of the real estate not required for the purposes of the Coinmany, there were sold during the year lots to the value of
‘.$12,245, which amount has been deposited with the Trustee of
the mortgage of the Company and will be expended in im¬
provements to the property.
expended by the Terminal Company during
improvements was $55,46T 33, which amount
was advanced by your Company, and for which First Mort¬
gage Bonds of the Norfolk Terminal Company were received
at par.
The receipts of the Norfolk Terminal Company from
securities owned enabled it to pay a dividend amounting to
■$12,133 25 on its full-paid capital stock owned by your Com¬
The amount
the year upon
pany
will continue.
Although the surplus revenue for the year amounted to
$635,527 57, equivalent to nearly 3 per cent upon the preferred
shares, the requirements of the Company for additional facili¬
ties and equipment are such that the interests of the Company
will be best subserved by its expenditure for such purposes.
The Company has no floating debt and now has a substan-'
tial working capital in cash and negotiable securities.
Your
directors look for a continuing increase in the surplus ac¬
count, and believe that the accumulation will, in the near
future, justify the distribution of a portion of the surplus to
the shareholders.
The Treasurer's condensed
and description in detail of the
is hereto appended.
For full
Iron Bell
Land, Mining and Development Company*
junctional and other
points upon your line is vested in this Company. The grow¬
ing business of your Company rendered it necessary to acquire
during the year additional real estate at important points
upon your line, including the office building and hotel prop¬
erty at Itoanoke. The properties were obtained on favorable
terms, and the payments extend over periods of time varying
from one to eight years. The balance-sheet of the Company,
attached to this report, shows the cost of the real estate at the
several points.
The title to valuable real estate at
CHANGES IN ORGANIZATION.
Mr. M. C. Jameson was, on March 30th appointed Comp"
trailer, to succeed Mr. W. G. Macdowell, elected Treasurer.
accompanying this report is shown the line
of railroad belonging to your Company, and certain proposed
-extensions and connections. [A map will be found in the Inves¬
tors' Supplement for March, on p. 85. J Whilst every effort is
being made to encourage the development of local business,
your management recognize the importance of securing
connections with other lines, in order that the products of the
mines and furnaces upon your line may have access to the most
•desirable markets, as well as to open up new and more direct
lines of communication for the interchange of commodities.
map
The Northwestern extension from the coal-fields on your New
River Division to the Ohio River, and the system of railroads
statement
with this report.
The Board takes
pleasure in acknowledging the ability and
fidelity with which the officers and employes have discharged
the duties intrusted to them during the year.
By order of the Board,
F. J. KIMBALL, President.
CONDENSED BALANCE SHEET.
General Ledger
Norfolk & Western Railroad Company, Dec.3r, 1SS7.
Assets.
Railroad premises, property
$42,9-20,117 05
2,431,557 54
and franchises
Rolling stock
Car Trusts, additional rolling stock
Chargeable to principal
Chargeable to interest
$1,103,519 43
300,052 <>6
Norfolk & Western RR. Co. common stock owned, 1,157
shares
Investments in other companies:—
$500,000 00
Roanoke Machine Works bonds
Roanoke Machine Works stock, 4,174
shares
305,300 00
Norfolk Terminal Co. bonds
525,009 00
Norfolk Terminal Co. stock, 3,219
shares
321,900 00
Iron Belt Land. Mining and Develop¬
ment Co. stock, 330 shares
...
33,000 00
Iron Belt Land, Mining and Develop-,
ment Co. advances
21,554 97
Roanoke Live Stock Association stock,
1,000 OO
Shenandoah Valley
30,571 shares
CONNECTING LINES.
Upon the
a
funded debt of the Company,
statistics of the operations of
your line, you are referred to the reports of the Comptroller
and General Manager, which will be published in connection
pany.
..
balance-sheet, and
RR.
Co. stock,
1,404,171 49
39,781 09
57,100 00
Suspense account
Materials and supplies
Advances to Roanoke Machine Works, including new
equipment under construction and materials and
supplies carried by that company
Cash for Clinch Valley extension
Mercantile Trust Co., for construction $1,244,305 57
Fidelity Insurance, Trust & Safe De¬
posit Co., for rolling stock
210,390 00
1,824,854 97
109,259 00
177,541 73
440,431 79
1,454,755 57
333,043 32
5,000 00
Accounts receivable (current balances)
General mortgage bonds 011 hand
958,000 00
Improvement and Extension bonds on hand..
Equipment Trust bonds
(Roanoke Machine Works) on
hand
beyond, has been referred to in several successive annual Norfolk
Terminal Co. bonds on hand
reports. During the year your company has been excavating Cash
a tunnel under Flat Top Mountain, which for its entire dis¬
tance of 3,100 feet goes through the Pocahontas or No. 3 coal
Liabilities.
bed, and in connection therewith constructing a branch about
10 miles long on the other side, following the waters of the
$22,000,000
Stock :- -Preferred
Elkhorn, a branch of the Big Sandy, which is tributary to the Capital
Common
7,000,000
Ohio River.
Upon this branch line, which will be opened for
traffic during May, 1888, there are now being constructed not Funded
Debt :
less than 650 coke ovens, and this line should be gradually
Divisional Liens—
extended as additional coke ovens are erected, and be com
Norfolk A Petersburg RR. Co
$-190,000
Southside RR. Co
1,351,100
pleted through to the Ohio River.
Virginia & Tennessee RR. Co
2,030,100
Reference lias also been made to a projected outlet to the
Norfolk A: Western RR. Co.
♦South and Southeast, through the construction of a line, about
General mortgage
0,912.000
30 miles in length, to connect your Cripple Creek Extension
New River Division First Mortgage.
2,000,000
with the Cape Fear & Yadkin Valley Railroad in North
Improvement and Extension Mort¬
gage.... ...................... .....
4,4 08,000
Carolina.
This connection, if constructed, would prove very
Adjustment Mortgage
1,500,0_K)
advantageous to your company in opening up additional ter¬
bonds.
Convertible Debenture
52o,000
Clinch Valley Division First Mortritory f\r the interchange of business.
-
805,000 00
48,000 00
548,208 96
$53,039,323 14
00
00
$29,000,000 00
—
Tiie
improvement in the Company's affairs lias been contin¬
throughout the year. The passenger traffic increased 40
per cent and the freight traffic 42 per cent as compared with
Car Trust Lease Warrants,
“
“
“
uous
the previous year.
The gross earnings increased 31 per cent
and the net earnings increased 37 per cent.
To illustrate the
continued g owrh of the Company's business, it may be
•stated that within 6 years, although the mileage of the Com¬
pany iia - increased but 34 per cent, the passenger traffic lias
increased 159 per cent and the freight traffic 310 per cent.
Tiie gros> earnings per mile increased from $5,297 to $8,073,
or 52 per cent, and
the net earnings per mile increased from
principal—
interest
1
I*y
Conqvuy
tin* General Assembly of Virginia, approved March 5tli,
changed to Viusi.M.v COMi’ANV, by wliieh title the
id ’ e known in future.
oi
act
n t.n .
v
was
00
00
00
00
00
00
21,778.200 00
$1,103,519 43
360,6o2 00
1,101,171 49
termed but unmatured
funded debt
interest
payable (current balancesi
Surplus of-income Dee. 31, 1886
accounts
“
•*
for Year ls>7
on
3^0,085 17
375,349 51
.855,9-9
035,52
/
37
57
091,516 94
$53,680,323 U
Notk.—This
the information of charcstati-tics
departments, will be ready fur distribution
preliminary report is printed for
prior to the annual meeting, to be held at Roanoke.
Wednesday. May 2, Is"-1. The full report, containing complete
holders
*
00
2,500,000 00
gave
CONCLUSION.
00
as
furnished by the heads of
!ilmi 11 tliji t- ti
lili‘
April
515
THE CHRONICLE.
21, 1888.]
The dLcmittrerctal
COTTON
Jinxes.
Friday, P. M., April
20. 1888.
The Movement of the Crop, as indicated by our telegrams
from the South to-night, is given below.
For the week
this evening (Apr. 20), the total receipts have
ending
reached 27,980
COMMERCIAL EPITOME.
bales, against 29.504 bales last week, 39,563 bales the previous
Friday Night, April 20, 1888.
week and 33,396 bales three weeks since, making the total
receipts since the 1st of September, 1887, 5,190,084 bales, against
At length some progress has been made by Congress in the
5,107,013 bales for the same period of 1886-7, showing an in¬
affairs most urgently demanding its attention. The Secretary crease since September 1, 1887, of 83,071 bales.
of the Treasury has been formally authorized to proceed with
Fri.
Total.
Thurs.
Wed.
Tiles.
Mon.
Sat.
Receipts at—
the purchase of Federal bonds and has advertised for pro¬
420
144
1,974
452
751
posals. The debate on the Revised Tariff bill was begun on Galveston
2o7
Tuesday last and will b9 resumed on Tuesday next in the
Tndiannla, Ac
House of Representatives, which is evidence of progress New Orleans...
867
1,004 10,295
2,768
234
3,*28I
2,141
316
17
toward final action, with the result, however, much in doubt. Mobile
1
139
15
109
35
15
15
The Committee on Foreign Relations in the United States Florida
Senate has decided, by a strict party vote, to report against
573
650
3,081
380
447
817
2L4
Savannah
the Fisheries Treaty with the British Government. The
29
Brunsw’k, Ac.
weather has become quite spring-like, but in many branches
44
793
3,141
83
644
987
590
Charleston
of trade the season for
close.
Lard on the spot was
active wholesale business
draws to a
rather quiet throughout the
week, but
prices showed an upward tendency and yesterday made a
decided advance. To-day the market was very strong at 7-80c.
for prime city, 8'27^@8-32>£c. for prime to choice Western,
8c. for refined to the Continent and 8'80c. for refined to
South America.
The speculation in lard for future delivery
was only moderately active, and prices did not material¬
ly change until yesterday, when there was an advance of 20
@22 points, from the effects of something of a corner at
Chicago.
To-day the opening was buoyant, but a decline
followed,
DAILY CLOSING
PRICES OF LARD FUTURES.
Saliu'd’y. Monday Tucsd'y. Wednsd'y. Thursday. Friday.
May delivery...
...
June delivery...
...
July delivery...
...
August delivery
Sept. delivery..
Oct. delivery
...
...
...
8*05
8-08
8-10
8-12
8-14
8*14
8 05
8-08
8-10
8-12
8-14
8 14
8-02
8-06
8‘08
8-10
S-14
8*14
803
8-07
8-10
8-12
8-14
8-14
8-25
8-28
8'30
833
8-36
8-36
8-22
8-26
8-29
8‘32
8'34
8 34
irregular, with a fair business ;
$16 5G@
pickled
7)4@^?8c*» shoulders 7)4@7Wc. and hams 103^@ 11c.;
$14 50@$15 50, extra prime $12 50@$12 75, clear
$18 25. Cut meats are firmer, with a fair inquiry ;
bellies
smoked shoulders 8li@83^c. and hams 12@ 12^0. B=ef is
nominal at $7@$7 50 for extra mess and $8 for packet per bbl.;
India mess quoted $12@$14 per tierce ; beef hams dull at $16
per bbl.
Tallow steady at 4>^c. Stearine is steady at 9c. and
oleomargerine is quiet at 6%c. Butter is in full supply and
easier at 20@ 27c. for creamery and 19@25c. for State dairy.
Cheese is unsettled; old State factory quoted at 10@12;?4c. and
new
skims 5@9c.
Coffee
on
unsettled.
39
39
Royal,Ac
Wilmln ‘don
15
6
17
7
10
..
55
.
O
2
Wash’gton, Ac
Norfolk
138
816
64
75
We«t Point Ac
New York
Baltimore
200
295
233
289
388
115
115
2 90
243
......
......
......
..••••
111
2,024
465
236
Boston
3,980
2,16a
1,250
1,500
735
516
1,197
578
*4
25
25
Philadelphia, Ac
Totals this week
5,569
3,361
6,222
6,102
1,728
For comparison we give the following table
total receipts, the total since September 1,
27,980
4,998
showing the week’s
1887, and the stock,
to-night, compared with last year.„
Galveston
...
Sep.
1, 1887.
Sep.
1, 1886.
Week.
|I
1888.
1887.
704,373
10,021!
29,078
4,953 1,689,999
164
211,328
221,578!
18,3941
152,973
2,997
5,071
2,230
642,669
1,974
Since
This
Since
This
Week.
Stock.
1886-87.
1887-88.
Receipts to
Apr. 20.
Ind’nola,Ac
Pork has been somewhat
mess
Port
......
......
......
the spot has been dull, with prices more or less
To-day there was more activity, the sales amount¬
New Orleans.
10,295 1,664,505
15
201,433
23,351
3,081
835,229
29
3,141
73,620
398,119
39
to
316
Mobile
Florida
Savannah
...
Brims w., Ac
Charleston
..
P.Royal, Ac
Wilmington
Wash’t’n,Ao
.
Norfolk
W. Point, Ac
New York....
Boston
Baltimore
2
3,980
2,163
1,250
l/.OO
23,001
1,009
785,915
31,3 53
22,596)
Ill
361,916
11,613!
15.763
28
391
166,748
4,917
448,168
4SS.S63
145
17,633
133,839
86.240
75,tOO
115
...
I
15
15
3,763
1
184
524,659
322,066
15,7371
1,889!
489
92,905
4
2,316
10,7 46
3,280
219,425
243,200
9S,654|
443
1,434
3,7461
309
l,463j
40,033
24,991
1
58,S09j
11,800
o,oct>
17,190’
5,6? 8
25,260
including Rio No. 7 at llb^c. The Phil’del’a, Ac
25
2,284
46,SoO|
18,765;
speculation in Rio options dull, at drooping prices, under the
Totals
27,980!5,190,0S4i 14,222 5,107,013' 599,5681 4? 5,416
improved prospects of ihe Brazil crop, until to-day, when
there was a recovery, on a demand to cover contracts and
In order that comparison may be made with other years, we
secure profits, closing steady with sellers as follows:
give below the totals at leading ports for six seasons.
ing to about 10,000 bags,
April
May
ll-30c. I August
11 *10c. | September
June
10-60e. I October
July
10*25c.
Raw sugars were
.
10*35c. I December
9\>oc. | January
9*95c. I February
0 05o
9 95c-
lO-OOe-
I November
9-95e. | March
lO OCcwithout decided change, and only moder¬
ately active, until yesterday, when a very large business was
done at full prices, including centrifugal, 96 deg. test, at 3}^c.,
c. & f., and molasses grades at 4*06c. for 86 deg. test
to
arrive, at 3.81c. for 82 deg. test on the spot. Refined sugars
are also dearer.
Molasses was active and dearer ; sales yester¬
day and to day ten cargoes at 20^c. for 50 deg. test. The
tea sale on Wednesday went off at steady prices, with greens
a little better ; and these were active at private sale.
Kentucky tobacco has continued active, the sales for t> «
week aggregating 700 hhds., of which 500 for export ; a d
prices are generally quoted y±e. higher. The movement in
seed leaf has also continued brisk, and sales are 1,680 cases, a^
follows: 350 cases 1886 crop, New England Havana, 10@30c.;
400 cases 1886 crop, Wisconsin Havana, 43^@llc.: 250 cases
1886 crop. Pennsylvania, 5@12^c.; 100 cases 1886 crop, Penn¬
sylvania Havana, 9i4@21c.; 200 cases 1886 crop, Dutch,
12c.; 180 cases 18S6 crop, State Havana, 10@19c.; and 200
cases sundries, 4%@80c.; also, 500 bales Havana, 60c.@$l 10,
and 300 bales Sumatra, $1 40@$1 65.
On the Metal Exchange the speculative operations have
been fitful, reflecting feverishly unsettled markets.
Straits
tin has advanced to 36l^c. on the spot, but soil to-day at
26 10c. for May, and quoted 24}^c. for July, showing much
irregularity.
Lake copper has been active, but closed dull,
with a sale at $16 65c for May—the same as last Friday. If ad
has done better, but closes dull at 4‘70c. for April and
$4*72^c. for June.
Spelter dull at about 4%c.
terior iron markets prices have
rather more business.
Crude peiroleum certificate*
At the in¬
favored buyers, lading to
Receipts at—
[ 1888.
f
1887.
|
{
1885.- 1
I
1880.
1883.
1884.
2,230
4,953
6,681
701
1,280
11,141
12,356
6,671
4,212
16,304
316
164
1,184
415
7 97
1,009
7,174
3,147
598
1,016
5,623
Cliarlest’n,Ao
3,081
3,180
139
3,5 tO
576
791
3,509
Wllm’gt’n, Ac
57
160
542
20
102
802
790
4,674
5,9? 4
5,003
1,436
920
W’t Point, Ac
All others....
3,980
2,103
2,934
306
Tot. this week
27,980
14,222
43,960
Galvest’n, Ac
New Orleans.
1,974
10,295
Mobile
8avannah
...
Norfolk
Since Sept. 1.
581
5190,08415107,013
1,963
2 68
7,124
1,138
4,406
12,085
12,287
20,923
59,244
19.1
4998,8*9 4643,o-aOJ 4693,269 5G11,909
includes Port Royal, Ac.
Galveston Includes Indianola; Charleston
Wilmington includes Moreli’u City, Ac.; West Point includes City Point, Ac.
The exports for the week ending this evening reach a total
of 81,312 bales, of which 20,603 were to Great Britain, 2,173
to France and 11,537 to the rest of the Continent.
Below are
the exports for the ’week and since September 1, 1887.
From
Week Ending Apr .20.
Exports
Great 1
BriVn. France
Galveston
....
Sew Orleans..
Exported to—
......
3,908
Conti-'
Total
Great
rent.
Week.
Britain.
37S
378
2,031
5,939
......
......
Mobile
...
......
.
Florida
......
......
......
......
......
c
Savannah*
....
Charleston
....
'VilminKton
.
.
......
.
*
.
.
..
•
.
.
2,:?S3
......
Point**
New Yfcik.*.,.
......
11.901
1,572
[
ContiFrance
Total.
nent.
81 973
4,024
220,88*
631,238 204,923
62,488
3,140
312.683
378,277 1,274,488
....
2,360
..
Norfolk........
West
S%pt. 1, 1837, to Apr. 20, 188 8
Exported to—
761
704
10
10
4,824
18,357
187,352
12,480
240,898
70,037
25,839
177,553,
0,395
75,780
221,903
218,949
452,558 31,369,
39,722',
4.159
1,1001
187,155 J
02,488
3,410
410,230
274,( 32
J21.903
220,012
218,058
671,602
170,559
2,403,
active and buoyant, Soften
53
166,150
3,027
2,677
131.443
39,482
2,4(5
603
95,556
reaching 89^£c., but receded, closing to-day at 84^@84^c. : Baltimore
3,<557
1,100
1,757
<8,758
4,3101
43,948
Spirits turpentine has been active, and stocks are reduced, Fblladelp’a’&o
1
closing firm at 40@40i£c.
Rosins are unchanged at $1 173^@
2,172 11,527 34,312 2.456,933 347,953 1,151,0241 3,935,932
71'otal
20,OQo
$1 22*4 for common to good strained. Ocean freights have
t 099.325
9.380 40.156 2.530.129 09,010 J 087,5^*
3,543
JVt»l l&Stv?.. 33,2*7
been kept in a very depressed state by the speculations in
Includes
exports
from
Brunswick,
breadstuff*?, shutting out export orders.
1i
were
i
......
....
T
•
*
1
9K.THE CHRONICLE.
516
ft;?
In addition to above exports, our telegrams to-night also give
us the following amounts of cotton on shipboard, not cleared,
at the ports named. We add similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale
& Lambert, 24 Beaver Street.
On
Apr. 20, AT—
0B
e.
Shipboard, not cleared—for
Britain.
France.
Coast¬
wise.
Other
Foreign
Total.
:
.
Eo
CO
war
Stock.
&S's$
i
3$
Leaving
Great
92g| §21
t<2 jg Jf 2.2 2 ,
U
®
(Vol. XLVI,
I
|
OJ
h
CD »
►*
*
•
•
•
2'
16,694
11,258
10,676
2,779
41,407
None.
None.
None.
None.
None.
None.
None.
None.
None.
None.
1 100
None
None.
None.
900
550
507
None.
180,171
18,394
5,400
9,213
550
507
22,046
3,800
9,950
8,000
11,937
233,250
Galveston
Norfolk
New York
Other ports
5,500
6,000
total 1888
total 1887
28,194
16,201
4>,048
Total 1886
4,500
None.
None.
None
None
2,000
None.
c.
1« «85
10,60
20/779
No
3,800
a,450
•
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Ordinary
Strict Ordinary
G >od Ordinary
Strict G<<od Ordinary
Liw Middling
$ Tb
4^
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cc -J
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cog!
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Strict Low Middling
Middling
Good Middling
Strict Good Middling
Middling Fair
7
7
7*2
7*2
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7*2
8716
8 ‘16
87,6
810,6
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8 ‘16
7
7
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.
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y7l«
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9^16
9'16
91116
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978
Good Ordinary
Strict Good Ordinary
Low Middling
Good Midi sling
Strict Good Middling
10*8
9H1C
1018
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730
8916
89i 6
9116
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911,6
978
o78
1018
1019
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97,6
10716 10-46 107,6 107,6
Fair
117]6 13716 117ig 11716
STAINED.
Good
Sat.
Ordinary
lb.
1
JI011 Tues! Wed
TH.
615,g
61h«
615,6
615,6
615,6
758
75g
89,6
7%
7 5s
75h
89ie
75s
8916
8916
89i«
8916
Middling
9%
938
938
93s
930
930
Sat
Mon
..
.
Quiet
Quiet
Tues. Easy
Wed Steady
Thors Steady
F*i... Steady
.
Total.
The daily deliveries
Ex-
port.
j Con- '■ Spec-
j 8ump\ublyn
1 <00
105
1-4
1,950
251
100
500
374
594
5001 196
4,050|1,704
given
Tran¬
Total.
sit.
....
»
•
•
•
•
....
m-m
m
•
....
....
....
....
....
j
|
FUTURES.
Sales,
j %fies.
105
41000'
1,784
1,601
43,700!
474
33,700!
‘.4,500!
1,034
-
44.0001
following comprehensive table :■
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Tnclnaen sales in »epreajD«r, 1887, lor 8eprt-inr»«r V.*»8,2*»0; Sep
tember-October, for October, 570,200; 8eptcmber-Novt;iub(»r, for No¬
vember. 481,600; September-December, for December. 1,027,400; Sep-
tember-Jannary, for January. 2,256.600; ^eptember-Fehruary, for Feb¬
1,591,700; September-March, for March, 3,112,100.
ggp* We have included in the above table, and wbaii continue each
week to give, the average price of futures each day for each mouth.
It
will be found under each day following the abbreviation “ Aver ** The
696i 43,100;
5,754 230,000;
are
shown
for each month for the week is also given at bottom of table.
Transferable Orders—Saturday, 9'60c.; Monday,
;
Tuesday,
9 60o.; Wednesday, lP60e.; Thursday, 9-60(3.; Friday, 9 • Oc.
iverage
....
The
....
....
...
...
above are actually delivered the day
previous to that on which they are reported.
The Salks and Prices of Futures
a
...
99
©
ruary,
8ALE8 OF SPOT A?<D TRANSIT,
SPOT MARKET
CLOSED.
^
Cid
r~0
©©g© ©©£©
to zO to
1
days.
on same
©CO
®
^
o
©©
MARKET AND SALES.
The total sales and future deliveries each day during the
week are indicated in the following statement.
For the con¬
venience of the reader we also add a column which shows at a
%
Cl©
CO
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Fri
6W16
glance how* the market closed
>
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Strict Good Ordinary
Low Middling
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M
spot was more active for export early in the
week, but without improvement in values, and on Wednesday
business was again restricted to a small demand for home conBumption. To-day the market was quiet at 9%c. for middling
uplands,
The total sales for forward delivery for the week are 230,000
bales. For immediate delivery the total sales foot up this week
5,754 bales, including 4,050 for export, 1,704 for consumption,
for speculation and — in transit.
Of the above — bales
were to arrive.
The following are the official quotations for
each day of the past week—Apr. 14 to Apr. 20.
!
©
►1
HH
crop movement.
Cotton on the
Moil. Tues Wed
<
|1
©
1
0> ©
416,655
630,767
►
©
CO*
from
Berlin
of
the
relapse of
Emperor
Frederick of Germany, a marked decline at Liverpool, and
the crop movement again free.
On Wednesday better ad¬
vices from Berlin and a stronger Liverpool market, attended
by news of the flood in the Mississippi River, caused a dearer
opening, but the market relapsed into dulness, and yesterday
declined a few points, under various influences, though
Eel ling for the decline was checked by a report of a rapid
reduction of stocks at principal points. To-day a bet¬
ter report from Liverpool led to some demand to cover
contracts, and sellers being scarce an advance of 6@8 points
was (asily made,
part of which was lost later under the full
Sat.
S'
obo
CC
CO
©
so
>,©
repotrs
UPLANDS.
CO
®W
^co®.'*
529,954
The speculation in cotton for future delivery at this market
has befn rather dull fur the week under review, and the fluc¬
tuations in price s were within narrow limits
The opening
was depressed by a variety of influences.
But on Monday
there was considerable strength shown ; there was in the first
place more doiDg for export, which rumors raised to a large
movement, the receipts at the ports were small, and the stocks
began to show a rapid diminution.
On Tuesday the
bull movement
received
a
severe set-back under
the
cc
§*•©
Ma^
®
45,429
38,791
98,722
3,706
17,625
CO
tteoS?^
9,514
69,614
8,536
20,626
12,2 8
.
u
sis r
: B: m
! <*5. 00
• ©
®_ • 1
•
cc
New Orleans....
Mobile
Charleston
Savannah
lift
**
•
■
;
■
by the
•11
*08
•
jn
•06
•19
•15
following exchanges have been made during the
pi. to exch. 1,700 May for June.
pd. to exch. lOo June
July.
pd. to exch. loo May for Aug.
pd. to e ch. 200 July for Aug.
pd. to e <ch. 100 May for July.
pd to exch. 2,800 June ior Aug.
-25
-0>
10
-54
*15
to
to
;
h. 100 Anri for July
e < ch. 500 M y for Sept,
pd. to exch. 50o Ma> r«> June,
pd. to exclr 1 i*o Dec. for Aug.
pd to exch. 400 June for Aug.
pd.
pd.
ex
The Visible Supply of Cotton to-night, as made up by cable
and telegraph, is as follows. The Continental stocks, as well aa
those for Great Britain and the afloat are this week’s returns.
517
THE CHRONICLE
1888.]
April 21,
«nd consequently all the European figures are brought down
Thursday evening. But to make the totals the complete
figures for to-night (Apr. 20), we add the item of
exports from
fife United States, including in it the exports of Friday only. *
1886.
1885
634,000 1,024,000
1887.
1888.
998,000
14,000
bales 873,000
Stock at Liverpool
Stock at London
22,000
655,000 1,055,000
895,000 1,012,000
Total Great Britain stock.
Stock at Hamburg
Stock at Bremen
Stock at Amsterdam
Stock at Rotterdam
Stock at Antwerp
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
66,000
6,000
5,000
5,600
48,300
47,000
3,900
44,400
27,000
4,600
51,100
27,000
300
1,100
251,000
2,000
52,000
6,000
3,000
48,300
19,000
400
700
186,000
3,000
31,000
21,000
12,000
500
400
l,-.00
148,000
6,300
72,000
12,000
3,000
800
179,000
5,000
83,000
8,000
5,000
318,300 382,100
Total European stocks ....1,232,400 1,419,100
973,300 1,437,100
Indlacotton afloat for Europe. 220,000
312,000 234,000 203,000
Amer. cott’n afloat for Eur’pe. 206,000
232,000 300,000 187,000
55,000
Egypt, Brazil,&o.,afltforE’r’pe
60,000
15,000
6,000
Stock in United States ports.. 599,568
4^5,446 729, i89 575,357
87,922 249,760
99,349
Stock in U. 8. interior towns.. 205,256
United States exports to-day.
700
10,357
8,144
9,800
Total visible supply
2,518,924 2,576,825 2,509,693 2,517,606
Of the above, the totals of American and other descriptions are as follows:
407,100
337,400
Total Continental stocks
American—
219,000
206,000
Continental stocks
American afloat for Europe...
United States stock
United States interior stocks..
United States exports to-day..
466,000
245,000
300,000
729,489
249,760
8,144
820,000
300,000
232,000
455,446
87,922
10,357
bales 645,000
Liverpool stock
599,568
205,256
700
798,000
281,000
187,000
575,357
99,3*9
22,000
118,400
220,000
55,000
London stock
Continental stocks
India afloat for Europe
Egypt, Brazil, &c., afloat
16 ^ ,000
178,000
14,000
107,100
312,000
60,000
228,000
Liverpool stock
21,000
73,300
234,000
15,000
226,000
31,000
101,000
20.1,000
6,000
Total East India, &o
Total American.
567,100
511,300
671,100
643,400
1 ,875,524 1,905,725 1,998,393 1L,950,506
Total visible supply
Price Mid. Upl., Liverpool
Price Mid. Upl., New York
2 ,518,924 2,576,825 2,509,693 52,517,606
C3F“ The imports into
45,000 bales.
Continental ports this week have been
*
*
9^ic.
578d.
5ij6d.
S^d.
10 See.
55i6<h
9
4c.
107ec.
The above figures indicate a decrease in the cotton in sight
to-night of 57,901 bales • as compared with the same date of
1887, a" increase of 9,231 bales as compared with the corres¬
ponding date of 1886 and an increase of 1,318 bales as
compared with 18S5.
At the Interior Towns the movement—that is the receipts
for the week and since Sept. 1, the shipments for the week,
and the stocks to-night, and the same items for the corres¬
detail in the following
ponding period of 1886-87—is set out in
statement.
day of the past week.
CLOSING
Week ending
Apr. 20.
QUOTATIONS FOR MIDDLING COTTON ON—
Satur.
Mon.
Galveston
New Orleans.
Mobile
Savannah
Charleston
93s
9^4
93s
93s
93s
9*4
930
9»16
99l6
Wilmington
93g
93s
958
978
938
93s
938
9*4
9&16
9916
9»16
99l6
9<h«
99l«
95q
978
93s
95s
97e
93s
95«
978
930
9«8
9**16
91316
10*16
913ie
IOI16
91316
10*16
91316
10*i6
9*3,6
iO*i6
938
93s
93s
93a
938
93q
95s
9%
95b
95s
93s
93s
938
95s
93s
93s
93q
95s
950
930
9%
93s
958
95s
....
St. Louis
Cincinnati...
Louisville
Fri.
9*4
.
Philadelphia
Augusta
Memphis
Thurs.
9*16
99i6
..
...
Wednes.
9*4
93a
...
Norfolk
Boston
Baltimore
Tues.
930
930
9*4
...
...
93s
•
....
95s
•
•
•
adj;
-
-
5ir te
CD
^ 2.
•
•
pv-
*p
~
-
Ending—
Mar. 16
“
23
“
30
Apr.
13
“
20
1886.
1887.
57.743
57,716
46.298
64,328
69,095
41,392
56,105
6
**
10*1«
938
-
93s
93g
9»8
9«8
43,960
.
1886.
1888.
1888.
1887.
47,333 392,722 200,914
38,380 358,392 173,846
31,115 33,396 335,663 143,168
2^,808 39,563 819,744 132,220
21.627 28,501 295,810 119,046
14,222 27,980 271,836 107,106
1886.
1887.
1888.
21,608 29,698
19,230 30,470
3,437 19,173
262,737 86,368
249,536 25,473 18,360 26,368
8,453 14,738
235.765 32,371
2,282
9,401
217,276 19,486
284,870
28,729
276,960
29,998
The above statement shows—1. That the total receipts from
the plantations since September 1, 1887, are 5,383,530
in 1886-7 were 5,166,059 bales ; in 1885-6 were 5,254,375 bales.
bales;
2.—That, although the receipts at the outports the past week
27.980 bales, the actual movement from plantations was
only 9,491 bales, the balance being taken from the stocks at
the interior towns.
Last year the receipts from the plantations
for the same week were 2,282 bales and for 1886 they were
19,486 bales.
Amount of Cotton in Sight April 20.—In the table below
were
give the receipts from plantations in another form, and add
overland movement to Apr. 1, and also the
takings by Southern spinners to the same date, so as to give
substantially the amount of cotton now in sight.
we
to them the net
1887-88.
1886-87.
1885-86.
1884-85.
Receipts at the ports toAi r. 2o 5,190.084 5,107,013 4,998,889 4,643,940
Interior stocks on Apr. 20 in
i
j
i
of
Total in
.'-s
QZ
■
Northern
gg: (►.; *:
•
r
-s
HP
9*3l«
Receipts at the Ports. St'k at Interior Tovms. Rec'pts from PlanVns.
TFeefc
,_
rt
^-
00
978
978
weekly movement from the plantations of that part of the crop
which finally reaches the market through the outports.
| 193,446;
September 1
59,046
Tot. receipts from plantat’ns 5,383,530 5,16*i,059
Net overland to Apr. 1
! 855,124; 720,395
Southern eonsumpt’n to Apr. 1
319,000: 303,000
H*
9*4
Receipts from the Plantations. — The following tabh
Indicates the actual movement each week from the planta
tions.
The figures do not include overland receipts noi
Southern consumption; they are simply a statement of the
excess
o
the same
at all the
in 1886-7#
Quotations for Middling Cotton at Other Markets.—
In the table below we give the closing quotations of middling
cotton at Southern and other principal cotton markets for each
9,800
3 ,8 5,524 1,903,725 1,99 ,393 1L,950,506
Total American
East Indian, Brazil, die.—
he same towns have been 6,851 bales more than
week last year, and since September 1 the receipts
towns are 8,380 bales more than for the same time
255,486
89,768
5,254,375 4,733,708
682,615 556,182
253,000 217,000
...f6,5S7,654:6,189,454 6,190, 2u 5,5' 6,890
I
takings to
|
i
sight Apr. 20
spinners’
Apr. 20...
...
.
1,532,006 1,431,913 1,536,011 1,193,501
by the above that the increase in amount in sight to¬
night, as compared with last year, is 398,200 bales, the increase as
It will he seen
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Louisville in both years are “ net.*’
totals show that the old interior stocks
The
above
has average
t
69, ranging from 60 to 78.
rained magnificently on one day of
the week.
Corn is grow ing beautiful y, and cotton is co ning
up well, with some already chopp-d out.
i he thermometer
has ranged from 63 to 80, averaging 72.
Columbia, lexas.— be w« amer has be n dry all the wepk.
Rain is needed, but nothing is buffering.
Average thermome¬
ter 68, higheot 78 lowest 58.
Brenham, lexas.—We have had one good shower during
the we k, the rainfall reaching fifty-three hundredths of an
inch.
Corn looks promising and cotton is coming up. Planteis are very hopeful.
Th» the/mometer has averaged 71, the
highest being 83 and ihe lowest
The figures for
decreased during the week 17,855 bales ana are
hales more than at the same period last year.
avviaged 71,
Lutiiiy, Texas,—I1 has
fir
to
had dry weatlnr all the week.
r nging fi om 07 'o 74.
No rain has fallen du ing the week.
rangfd from 58 to 79, averaging 69.
Huntsville, lexa.s —The weather ha* been '*ry all the week.
Average thermometer 70, highest 81, lowtst 59.
Dallas, Texas.—There has been no rain during ihe week.
The thermometer has averaged 69, the highest, bc-ing 81 and
*tuint.'-to, Texas.—We have
The the mometer has
hatesltne, 1 eum* —
The thermometer has
thei mometer
to
CC
1884-5
the lowen 57.
ISan Antonio, Texas.—It has tained splendidly on one day
of ihe week, the rainfall re ching fifty hum redthsof an inch.
Corn looks very fine and cotton is coming up well.
The
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1,080,764 bales.
Weather Reports bv Telegraph.—Our reports from the
South to-night by telegraph indicate that planting continues
to make goo i progress.
L tile or no rain has fad. n, and the
temperature has, as a iu'o, b*en favorable.
In some s ctions
ot Texas moisture woul * be henefieial.
2c
M —]
t£ Ci JO M-l -J c.
O' © © © ©
—J -J
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compared with 1885-6 is 397,631 bales and the increase over
?rS-
©
M
M
MO
have
59.
Belton, Texas.—There has been one shower this week, the
Planting is
rainfall reaching seven hundredths of an inch.
to-night 117,334 progressing rapi ily. The thermometer has averaged 68,
The receipts at ranging from 55 to 80.
_
CHRONICLE.
THE
17518
[Vol. XLVI. *
The above totals for the week show that the movement from
Weatherford, Texas—We have had dry weather ail the
The thermometer has ranged from 54 to 81, averag¬ the ports other than Bombay is 12,000 bales less than the same
week last year.
For the whole of India, therefore, the total
ing 68.
New Orleans, Louisiana,—It has rained on one day of the shipments since January 1, 1888, and for the corresponding
week, the rainfall reaching two hundredths of an inch. Aver¬ periods of the two previous years, are as follows :
week.
EXPORTS TO EUROPE FROM ALL INDIA.
thermometer 69.
1886.
1887.
1888.
Shreveport, Louisiana.—Rainfall for the week ten hun¬
dredths of an inch. The thermometer has averaged 70, the
Shipments
This
This
Since
Since
Since
This
to all Europe
highest being 83 and the lowest 52.
week.
Jan. 1,
week.
Jan. 1.
Jan. 1.
week.
from—
Columbus, Mississippi.—There has been no rain all the
week. The thermometer has ranged from 38 to 80, aver¬ Bombay
480,000
523,000 33,000
42,000
452,000 61,000
97,000
All other porta.
8,000
116,000 14,000 149,000
2,000
aging 62.
Leland, Mississippi.—We have had no rain during the
Total
577,000
672,000 41,000
44.000
568,000 75,000
week.
Average thermometer 65f6, highest 84, lowest 46.
Manchester Market.—Our report received by cable to-night
Clarksdale, Mississippi.—It has rained lightly on one day
of the week.
The weather has been favorable to planters. from Manchester states that the market continues dull for both
The thermometer has ranged from 60 to 82.
yarns and shirtings.
We give the prices for to-day below,
Vicksburg, Mississippi.—Crops are advancing finely. The and leave those "for previous weeks of this and last year
for comparison:
thermometer has ranged 50 to 96, averaging 72.
age
~
weather has been
very
pleasant during the week with a slight rain on one day.
The
Arkansas.—The
Rock,
Little
rainfall reached
seven
hundredths of
an
inch.
Farmers
1888.
are
8*4 lbs.
32.5 Cop.
Tivist.
1887.
.
CotVn
Mid.
CotVn
Mid.
8*4 11)8.
325 Cop.
Twist.
Shirtings.
Shirtings.
progressing well wit h their work. A little rain is needed in
JJplds
JJplds
plowing.
The thermometer has averaged
d.
d.
s.
d.
d.
d. s. d.
d.
d. 8. d.
8.
d.
67, the highest being 85 and the lowest 46.
Mar-16 711ie—85i0 5 7!g@7 0^ 538
7316'®713i0 o 9 JD610*2 53q
Helena, Arkansas,—It has been showery on
one
55X6 73i0®71310 5 9 'aelois 571G
79ie®8316 5 7 '©7 0
;; 23
day, the rainfall reaching thirty-one hundredths of an inch.
530
®7 0
75i62>71o16 5 9 ®6 10h}
30 79iq/®8316 5 7
The remainder of the week has been clear and farming opera¬ APr. 6 70i6'®83ig 5 7 '3)7 0
75i0 5>71oi0 5 9 @6 10*2 5»r
S16 73q3>3
5 9 fr6 10^
13 79ic®8316 5 7 '®7 0
tions are progressing well. The river is, falling. More land
5 7 'a)l 0
55ie 7®16'^i715ib 5 9 ®6 10h3 5®g
20
79l6-83lB
has been put under cultivation, but most of the increase is in
grain. The thermometer has averaged 65, ranging from 50 to 82.
European Cotton Consumption to April 1.—By cable
Memphis, Tennessee.—Planting is making good progress. to-day we have Mr. Ellison’s cotton figures brought down to
Rain has fallen lightly on one day of the week, the rainfall
April 1. We give also the revised totals for last year, that
reaching eight hundredths of an inch. The thermometer ha3 comparison may be made. The spinners’ takings in actualranged from 43 to 88, averaging 66.
bales and pounds have been as follows ;
Nashville, Tennessee.—There has been no rain all the week.
Total. ■'
Continent.
Great Britain.
Average thermometer 63, highest 85 and lowest 39.
October 1 to April 1.
Mobile, Alabama.—We have had one shower during the
For 188T-8.
week, the rainfall reaching eighteen hundredths of an inch.
4,035,000
1,984,000
2,051,000
Good progress being made with planting.
by spinners.. .bales
Takings
The thermometer
43a*
438
432
has averaged 67, the highest being 81 and the lowest 50.
Average weight of bales....
in iirmndfl
869,092,000 1,755,124,000
1'airIn
886,032,000
Montgomery, Alabama.—Rain has fallen on two days to
this section to aid
‘‘
“
-
era
the extent of four hundredths of an inch, but the remainder
of the week has been clear. The thermometer has averaged 69.
Selma, Alabama.—There has been no rain all the week.
The thermometer has ranged from 45 to 82, averaging 66.
Auburn, Alabama.—We had thunder and lightning on
Wednesday and Thursday. Rainfall for tho week fifty-five
hundredths of an inch. Average thermometer 68, highest 83
For 1886-7.
.bales
bales....
Takings by spinners..
Average weight of
Takings in pounds
1,987,000
1,84G,000
3,833,000
446
446
446
886,251,000
824.502,000 1,710,753,000
weight of the deliv¬
According to the above, the average
is 432 pounds per bale this season,
and lowest 48.
against 446 pounds during the same time last season. The
Madison, Florida.—It has rained on one day of the week, C on tinental deliveries average 438 pounds, against 446 pounds*
the rainfall reaching ninety eight hundredths of an inch. The last year, and for the whole of Europe the deliveries average
thermometer has averaged 68, the highest being 82 and the 435 pounds per bale, against 446 pounds last season.
Our
lowest 53.
dispatch also gives the full movement for this year and last
Columbus, Georgia.—No rain all the week. The thermom¬ year in bales of 400 pounds each.
eter has averaged 70, ranging from 53 to 79.
ji
1
1886-7.
1887-8.
Oct. 1 to Apr. 1.
Savannah, Georgia.—Rain has fallen on one day to the
extent of one hundredth of an inch, the remainder of the
Bates of 400 lbs. each.
Great
Conti¬
Great
Conti¬
Total,
Total, j
week being pleasant. Average thermometer 37, highest 88
0005 omitted.
nent.
Britain
Britatn
nent.
eries in Great Britain
i
and lowest 51.
Augusta, Georgia.—The weather has been dear and pleas¬
ant during the week, with no rain.
Preparations for planting
are about completed and seed is being put in.
The ther¬
mometer has averaged 68, the highest being 90 and the lowes
* 50.
Charleston, South Carolina.—Rain has fallen on two days
of the week, the rainfall reaching twenty-two hundredths of
an inch.
Average thermometer 65, highest 90, lowest 53.
Slateburg, South Carolina.—There has been no rain during
the week and cotton planting is rapidly progressing.
The
thermometer has averaged 64, the highest being 86 and the
Spinners’ stock Oct. 1.
Takings to April 1...
51,
167,
2,215,
2,173,
2,266,;
Supply
Consumpti’n 26 weeks 1,898,
Spinners’ stock Apr. 1
368,
In December
73,0
Wilson, North Carolina.—Rain has fallen on one day of
the week to the extent of eleven hundredths of an inch.
The
thermometer has ranged from 42 to 86, averaging 61.
India Cotton Movement from all Ports.—The receipts
In February
73,0
73,0
In March
73,0
Tear Great
BriVn.
Conti¬
nent.
Total.
Conti¬
nent.
Total.
1888 14,000 28,000 42,000 121,000 331,000
1887 37,000 24,000 61,000 153,000 365,000
1886 1,000 32,000 33,000 137,000 343,000
1885 11,000 21,000 32,000 98,000 234,000
Shipments for the week.
Great
Britain.
Conti¬
nent.
Total.
Receipts.
This
Week.
452,000 67,000
523,000 85,000
480,000 79,000
332,000 46,000
Sinee
Jan. 1.
795,000
855,000
7 7 o,000
508,000
Shipments since January 1.
Great
Britain.
Continent.
Total.
Calcutta—
1888
1887
Madras—
1888
1887
All others—
2,000
7,000
6,000
i’doo
2,000
13,000
23,000
48,000
69,000
79,000
117,000
1,000
7,000
3,000
2,000
3,000
9,000
6,000
15,000
13,000
11,000
28,000
15,000
45,000
66,000
71,000
116,000
83,000
149,000
1888
1887
56,000
26,000
Total all1888
1887
2,000
8,000
6,000
2,000
14,000
|
2,270,
2,227,
4,497.
1,862,
1,794,
3,658,
836, i
408,
433.
841,
In October
72,0
72,0
72,0
72,0
72,0
72,0
145,0
!
72,0
72,0
145,0
145,0
145,0
145,0
70,0
! 72,0
145,0 1
72,0
72,0
63,0
68,0
70,0
70,0
140,0
140,0
138,0
142,0
142,0
70,0
142,0
68,0
demand
Jute Butts, Bagging, &c.—There has been a light
for bagging, and buyers are only taking small lots; prices
are
and sellers are quoting 5J^c. for 1
lbs.; 6c. for 1*£ lbs.;
6^@63^c. for 2 lbs., and 6%'@7c. for standard grades, but a
large lot could be obtained at less. The market for jute butts
is dull, and we hear of no important transactions.
Paper
easy
BOMBAY RECEIPTS AND SHIPMENTS FOR FOUR YHARS.
Shipments Since Jan. 1.
|
221,
4,276,
-
In January
Great
Britain
166,
2,061,
i
In November
Shipments this week.
,
55.
2,215,
005 omitted.
lowest 50.
for
46
j
3,770, J!
4,6C6.
'Weekly Consumption,
73,0
73,0
and shipments of cotton at Bombay have been as follows
the week and year, bringing the figures down to Apr. 19.
2,340,
1,872,
213,
4,388,
held at lj^c. and bagging qualities at 2@2}&c,
recently compelled
to suspend payments, have, we are greatly pleased to learn,
settled with their creditors in the Cotton Exchange and been
reinstated to-day.
This firm has always been highly re¬
spected, and is eo well and so favorably known that we are
sure the announcement of their resumption will afford special
gratification to their wide circle of business friends, Mr.
Miller was for fourteen years treasurer of the Catton Ex¬
change, and to him is due no little credit for its thorough sys¬
tem of transacting business. As is well known, the firm’s
trouble was caused through the failure of their customers to
respond to the call for margins.
Shipping News.—The exports of cotton from tbn United
States the past week, as per latest mail returns, nave reached
70,470 bales. So far as the Southern ports are concerned, these
grades
are
Messrs. Walter T. Miller & Co.,who were
!
I
are on the basis
otherwise stated.
reported by telegraph and published in prices
the same exports
•the Chronicle last
are
Friday. With regard to New York we
include the manifests of all vessels cleared up to Thursday.
Total bale*.
Liverpool, per steamers Celtic, 2,013—City of
Chester, l,*<84....City of Rome, 1,9. 6....Egypt, 2,21b....
Nevada, l,c88— Rosso, 1,032.
To Hull, per steamer Marengo, 1,281
To Leith, per steamer Crystal, 751
To Havre, per steamer La Normandie, 1,572
To Bremen, per steamer Alter. 213
To Hamburg, per steamers California, 100
Rugia, 200....
To Amsterdam, per steamer Schiedam, 100
9,929
1,2m1
213
30)
100
317
545
99
:
12,958
3,164
1,716
1.573
3,000
4,575
5,436
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
April
5 10
5 16
5 16
510
518
5 18
517
5 17
5 15
5 15
515
51
April-May..
May-June..
June-July..
5 16
5 16
5 16
516
518
518
5 17
5 17
5 15
515
515
5
517
5 17
5 17
5 17
5 19
6 19
518
5 18
5 10
516
5 10
518
5 18
518
5 18
5 18
5 20
5 20
5 19
5 19
518
5 IS
517
517
July-Aug... 5 20
5 20
5 20
5 20
5 22
5 22
5 21
521
519
5 19
5 19
5 li)
5 19
5 19
5 19
519
5 21
5 21
521
5 21
519
5 19
519
5 ID
September. 5 19
8ept.-0ct... 5 13
519
5 19
6 19
5 21
5 21
5 21
5 21
519
519
5 19
5 19
5 13
5 13
5 13
5 14
5 14
5 14
514
5 12
512
5 12
5 12
5 08
5 08
5 08
5 08
5 09
5 09
5 09
5 09
5 07
5 07
5 07
5 07
Aug.-Sept..
Oct .-Nov.
..
1,400
2,520
517
1,100
5,987
1
1,532
300
Total
70,470
our
Havre,
2,032
1,572
9,929
New York..
N. Orleans. 12,958
■Brunswick.
5,436
'Charleston.
6.334
West Point.
N’w’t N’w.s.
2,520
517
Baltimore..
Boston
5,987
d.
d.
<L
d.
d.
d.
d.
d.
<U
516
5 16
515
515
d.
5 15
d.
5 16
515
516
5 17
5 10
516
5 10
5 16
5 10
5 15
515
5 15
5 15
516
5 17
5 16
5 17
517
5 17
5 17
5 17
516
5 16
516
510
5 16
5 17
5 10
517
June-July.. 518
5 18
5 18
518
518
5 IS
517
5 17
5 18
5 19
518
5 ID
5 19
5 19
5 19
5 19
5 19
5 19
5 19
519
5 19
5 20
519
5 20
Aug.-Sept.. 5 19
September. 5 19
8ept.-Oct .. 5 12
5 19
5 19
5 19
5 19
5 19
519
5 19
5 19
5 20
5 19
5 20
5 19
5 19
5 19
5 19
5 19
5 19
519
520
5 19
520
5 12
512
5 12
| 5 19
512
512
511
5 11
5 12
5 13
5 12
5 13
5 07
5 07
6 07
5 0"
5 07
5 07
5 07
5 07
6 07
608
5 07
50
July-Atm
..
Oct.-Nov...
......
usual
Total
1,100
......
......
......
'Liverpool, steam d.
Do
sail...(k
Havre, steam
c.
sail.... .'.c.
Bremen, steam
.
sail.
Do
........
1
soo
6,493
1,572
......
717
7,823
Mon.
332
....
:
Tfair 8.
Fri.
332
....
I4® 0;j2
2,520
1,617
5,988
1,832
....
932
I4 ®
14®933
'
....
....
....
....
c.
X132
n32
X132
X132
n32
n32
c.
....
....
....
932
°;J2
Amst’d’m, steam, c.
•
°32
....
....
•
•
....
30*
....
•
....
°32
....
30*
30*
Do via Leith.o’.
Reval, steam
332
^;>2
....
1-1 ® %2
«%0
Wednes.
1,400
6,334
6,620 70,470
follows
Tu€8.
18,357
26,986
5,436
....
c.
sail...c.
Do
3a2
....
as
Total.
....
Hamburg, steam
Do
......
freights the past week have been
Satur.
Do
......
......
......
2,03 2
1,400
......
......
......
45,213
Cotton
Friday, P. M., April 20, 1888.
and
......
......
......
......
1,532
Phil’d’lphia
and
30*
....
....
....
932
932
....
....
d.
....
....
....
There has been a pretty general
and meal during the past week, in
advance in prices of flour
sympathy with the higher
range of values in the grain markets, and early in the week a
large business was done; but dealers withdrew on Wednesday,
and the export movement was checked by the scarcity of de¬
sirable lines as well as the higher cost.
To-day the market
was firm but quiet.
The speculation in wheat has at times shown great excite¬
ment, with prices taking an unusually wide range, not only
from one day to another, but on the same day.
This was
especially the case on Tuesday and Thursday, when au early
decline was followed by an active and buoyant market,—due
mainly to the very adverse reports regarding the health
of the German
Emperor, but aided somewhat by the
Boulanger episode
in
France.
Crop accounts were
lest
sight
of, and were in fait of little signifi¬
cance.
The higher prices of wheat on the spot
regular trade within narrow limits, whether for export or
local milling.
To-day the market was feverishly unsettled,
without material change.
Speculative dealings have been
extended to May, 1889, at about 4 cts. a bushel over May, 1838.
DAILY CLOSING PRICES OF NO. 2 RED WINTER WHEAT.
30*
SO*
901.4
Mon.
93%
92:U
92 %
91 %
90%
93 %
91%
94%
Sat.
....
....
d. 11G-1®31G 11G1®31G 11(54® 3i6 11(34®310 11(}4 ®3jq 11G4®316
sail
;
....
....
cL
517
BREADSTUFFS.
burg. A'tw'p. M’t’ga.Y’m'th.
513
417 3,250
644
4,880
4,573 4,575
......
......
and
Open High Low. Clos.
5 16
prll
April-May.
May-June..
4
Amster-Barce-Genoa,
Iona Trieste,
Frf.* Apr. 20.
Open High Low. Clos. Open High Low. Clos.
•form, are as follows:
dam
Thurs., Apr. 19.
Wednes., Apr .IS.
6,334
1,082
Indiana, 450
To Antwerp, per steamer Yaderland, 300
Brern.
and
Bam-
Open High Low. Clot. Open High Low. Clot.
Open High Low. Clot.
1.572
Rican, 3,460
Explorer, 2,898....Seln lar, 3,446....Statesman, 3,154
Hull
and
Liver¬
pool. Leith.
Tues., Apr.
751
3,250
particulars of these shipments, arranged in
Mon., Apr. 16.
Bat., Apr, 14.
To Bremen, per steamer Cadiz, 3,164
To Hamburg, per steamer Cadiz, 1,716
To Barcelona, per steamer Gladiolus, 1.573..
To Malaga, per steamer Gladiolus, 3,000
To Genoa, » or steamers Gladiolus, 955 ...Intrepid, 3,620...
BRUNSWICK-To Liverpool, per steamer Tiverton, 5,430
•Charleston—To Genoa, per bark Michele, 1,400
West Point—To Liverpool, persteamcr Guy Mannering. 6,334..
Newport News—To Liverpool, per steamer Duke of Bucking¬
ham, 2,520
Baltimore—To Liverpool, per steamer Sarnia, 517
To Bremen, per steamer Hermann, 1,100
Boston—To Liverpool, per steamers Bavarian, 1,417
Michi¬
gan, 2,875
Pavoiiia, 1,695
To Yarmouth, per steamer Yarmouth, 1
Philadelphia—To Liverpool, per steamers British Princess,
The
gencc and Qlths thus: 463 mea
.
To Antwerp, per steamer Rliynland, 317
To Barcelona, per steamer Comorin, 3,250
'To Genoa, per steamer Bolivia, 545
To Trieste, per steamer Bolivia, 99
New Orleans—To Liverpool, per steamers Costa
of Uplands, Low Middling clause, unles
The price8 are given in
4 63-64d% and 5 01 means 5 1-64
Kew York—To
...
519
THE CHRONICLE
1888.]
April 21,
....
Barcelona,steam d.
-13G4
13ot
13<U
13G4
13C4
13«4
‘Genoa, steam.. .d.
316
316
3I6
3lt5
3ig
3J6
Trieste, steam...d.
732
es2
732
732
732
732
Antwerp, steam d. 3;!2'®T64 332®764 832'®764 332®7G4 33o ®7,u 332®764
9234
91%
May delivery
Jane delivery
July delivery
91
September delivery
December delivery
Tucs.
Wed.
9334
92%
93%
92%
91%
93 >.4
92%
92%
9034
95
93%
Thurs.
94
93%
93%
92%
ill
92%
94%
Fri.
93*4
92 78
9234
9214
92 %
94%
Indian corn war buoyant early in the week, with sales of
April
options at 70c., the highest price in many years. But
Per 100 lbs.
latterlv there was less buoyancy, although yesterday an early
Liverpool.—By cable from Liverpool we have the follow¬ decline was more than recovered in sympathy with wheat. Busi¬
ing statement of the week’s sales, stocks, &c,, at that port. ness on the spot also showed more life, dealers and shippe
We add previous weeks for comparison.
supplying their more urgent needs at the views of holder
There i*, however, no general apprehension of a “ co
Mar. 29.
Apr. 6.
Apr. IS. Apr. 20.
famine,” though comparatively high prices have been paidf r
Sales of the week
bales
67,000
44,000
63,000
60,000 early supplies of the next crop—namely 563^@56^c. yest .Of which exporters took
5,000
4,000
3,000 day for December delivery.
5,000
To-day the market was dull.
Of
*
*
_
.
which speculators took...
Sales American
Actual export
3,000
56,000
7,000
13,000
808,000
678,000
59,000
48,000
153,000
90,000
Forwarded
Total stock—Estimated
Of which American—Estim’d
Total import of the week
Of which American
Amount afloat
Of which American
2,000
2,000
50,000
87,000
7,000
5,000
47,000
9,000
22,000
873,000
9,000
23,000
883,000
659,000
14,000
908.000
673,000
72,000
60,000
42,000
lc 9,000
49,000
156,000
75,000
86.000
r
645,000
77,000
50,000
144,000
53,000
The tone off the Liverpool market for spots and futures each
reek ending Apr. 20 and the daily closing prices
w<
of spot cotton, have been as follows :
day of the
Spot.
Saturday Monday. Tuesday.
Wedncs.
Thursday.
Friday.
DAILY CLOSING PRICES OF NO.
Sat.
64%
June delivery
63%
July delivery
August delivery
September delivery
October delivery
63
63
62%
62 %
12:30
P.M.
t
{
Quiet rind
steady.
Nid.Upl’ds.
Iti
seller^
favor
531,5
Mid. Orl’ns.
9
***
Sales
2:0.0
8pec. <k exp.
Quiet.
Steady.
.
Fair
business
5'»i«
5->16
5%
5%
5%
5%
12,000
1,500
12,000
1,500
14,000
1,000
14,000
8,000
2,000
1,000
5514
Market,
P.M.
Steady
(
Quiet.
(
Market, i
4 P. M.
\
The
63%
62%
62%
63%
Wed.
64 %
63%
63
63%
63
63
62%
Thurs,
62%
62%
64%
Fri.
63%
63 %
63 %
62 %
02%
63%
62%
62%
62 %
62%
62
DAILY CLOSING PRICES OF NO.
Mon.
89
Sat.
May delivery
....
J am; delivery
...
...
39%
39
.
39%
35%
2 MIXED OATS.
T<ies.
Wed.
Thurs.
39
38%
38 %
38%
38%
35 %
39
39
39
39
38%
35%
35%
35
38%
May deb very
*11%
41 %
2 WHITE OATS.
Tucs.
We.d.
Thurs.
41%
41%
4138
Jane
41%
-il%
41%
DAILY CLOSING PRICES OF NO.
Hon.
Sr u
delivery
41
Barley and barley malt are entirely nominal.
following-are the closing quotations:
41%
Fri.
38
38
38%
•
•
•
•
Fri.
10 34
4058
Kye quiet.
The
Futures.
12:30
03
65
quiet, but prices about steady.
Moderate
demand.
doing.
Tucs.
Oats have latterly been more active, but at no time shared in
the buoyancy of wheat and corn. To-day the market was very
...
Market,
2 MIXED CORN.
Mon.
64%
63%
63
Very
steady.
at
1-04 de¬
vance.
cline.-
Easy.
FLOUR.
Quiet at
1-04 ad¬
Easy.
Steady.
Steady.
Barely
steady.
Very dull.
Flne..
,
Steady.
Snperttno.
Spring wheat extras.
2 35®
2 75®
Firm.
Minn, clear and stra’t.
Winter ahipp’gextras.
Winter XX and XXX.
Patents
Southern supers
3 65®
opening, highest, lowest and closing prices of futures at
are given below,
These
Liverpool for each day of the week
sji bbl. $2 25®$2 70 | Bmitli’n com. extras.. $3 00® 3 40
2 85®
3 10®
4 25®
2 70®
3
3
4
3
4
5
3
00
20
55
30
50
00
00
Southern bakers’ and
family brands
3 50® 4 50
Rye flour, superfine.. 3 40® 3 65
Fine
Corn meal—
Western, Ac
Brandywine
2 40®
2 65
3 10® 3 35
3 30® 3 35
Wheat—
Spring
per bush...
No. 2
Bed winter No. 2...
Bed winter
White
87
91
93
88
90
®
®
-a
®
Corn—Weat’n mixed. 64 a
West’n mixed No. 2. 68
Steamer no. 2
65W
Western yellow....
Southern white....
66 a
67
a
69
38
42
State <fc Pa., $ hash.
Oats—Mixed
98
92
95
96
96
White....
No. 2 mixed
No. 2 white
70*4
Barley—
Canada No. 1
Two-rowed State..
69
67
70
70
end'g Week end*g April 1 ie>
Apr. 14.
Apr. 7.
Apr. 14.
Week
Exports of Wheat from India.
CHAIN.
Spring,
fVoL. XL\1.
THE CHRONICLE.
520
Six-rowed State....
Malt- State, 4-rowed.
State, 2-rowed
a
a
a
74
41
46
38^
3913
43
a
44
95
83
86
97
90
aioo
a 86
a 90
aioo
a 94
To United Kingdom
To Continent
Total
THE
DRY
140,000
480,000
20,000
320,000
160,000
620,000
340,000
960,000
800,000
GOODS TRADE.
New York,
Friday, April 20,1888.
during the week under review a comparatively*
The movement of bread stuffs to market is indicated in the light movement in dry goods from the hands of commission
statement below, prepared by us from the figures of the New merchants and importers, and the jobbing trade was spas¬
York Produce Exchange. We first give the receipts at Western modic and irregular.
The fact of the matter is that both
lake and river ports, arranged so as to present the compara¬ jobbers and retailers were such liberal buyers in the fore part
tive movement for the week ending April 14, 1888, and since of the year that their stocks have not yet been reduced to a
August, for each of the last three years:
point compelling the purchase of more than limited reassort¬
ments.
The recent action of local jobbers in placing upon
Bye.
Oats.
Barley.
Corn.
Wheat.
Flour.
Receipts at—
the market considerable lines of bleached cottons, calicoes^
BushASlbs Bu. 56 lbs
Bbls.imbs Bush.60 lbf\ Bush.56 lb* Bush. 32 lbs
etc., at less than the prices demanded by the commission
7,982
175,847
592.408
568,883
177,851
153,157
houses, has tended to unsettle values of such goodf to some
Chicago
3,338
63,750
58.000
7,160
172,180
77,101
Milwaukee...
extent, and several makes of bleached cottons were reduced
956
1,000
2.C00
20,435
21,449
1,420
Toledo
from }^c. to ^c. per yard by agents, in order to close out the
18,953
22,999
2,182
24,641
3,193
Detroit
slight accumulations on hand.
Prints were occasionally
202
2,800
30,312
108,079
10,900
4,959
Cleveland...
offered by jobbers by way of a drive at relatively low figures,
2,849
42,154
77,085
103,650
51.517
15,758
Bt. Louis
5,420 and the goods found ready sale—a large business in this
22,800
229.300
171,600
13.800
2,430
Peoria
connection having been effected by a few of the leading
226,130
houses.
A feature of the week’s business was a peremptory
939.900
auction sale of 8,000 pieces of silks, the production of the
327.304
20,777
884.810
1,012,104
1,730,547
258,018
Tot.wk. ’88.
Phoenix Manufacturing Co., of Paterson, N. J., Allentown,.
22.894
192.763
817,033
1,328,125
218,385
1,067,196
Bame wk.’fe?.
30.096
Pa., and Pottsville, Pa. It was the largest public sale of
265,000
795,807
837,876 B£l,313,241
193,359
Bamewk.’SS.
domestic silk goods ever held, and its results were satisfac¬
Since Auy. 1.
1,648,284
21,809,286
tory
to the owners, even a larger quantity of goods than
53,567,848
1887-8
8.787,914 69,119,824 63,675,211
1.711,129
was represented on the catalogue having been disposed of to*
1886-7*
8,008.129 70.835.900 68,302.119 49,639,844 20,047,267
6.248.720 49,159,511 71,860,878 43,438,577 18,948,170 2,537,302
1885-6*
good advantage.
Domestic Cotton Goods,—The exports of cotton goods
Include one week extra.
from this port for the week ending April 17 were 4,590 packages,
The exports from the several seaboard ports for the week
valued at $283,469.
These shipments include 1,200 to China,,
ending April 14, 1888, are shown in the annexed statement:
851 to Africa, 560 to South America, 550 to Aden, 511 to the
West Indies, 400 to Arabia, 221 to Mexico, 121 to Canada, 81
Exports
Peas.
Oats.
Flour.
Rye.
Corn.
Wheat.
to England, 34 to Central America, and 59 to all other
from—
countries.
Since the 1st of January the exports aggregate
Bush.
Bush.
Bush.
Bids.
Bush.
Bush.
3,104 48,396 packages, valued at $2,888,152.
2,316
77,392
Of this total China has
229,142
34,320
New York
35,336
had
49,222
18,969
Boston.
20,555 packages, valued at $1,022,733;
and 8,46fi
Portland.
$565,026,
packages,
valued
at
have
gone
to
South
America,
8,821
12,000
N. News.
38,333
For the similar period of 1887 the exports to all ports were
14,500
Norfolk.,
60
17,674
64,996 packages, valued at $3,683,020; of which 37,834 pack¬
philadel.
>’
2,454
50,268
52,487
28,000
Baltim’ie
ages, valued at $1,747,572, went to China; and 10,772 pack¬
598
236,171
N. Orl’ns.
2,655
ages, valued at $761,957, to South America.
To the same time
4,982
Bickm’d.
in 1886 the total shipments reached 64,556 packages, and in
3,104 1885 were 49,230 packages.
4,800
368,513 201,271
Tot. w’k.
347,352
As a whole the market for staple
B’me time
cotton
goods
ruled
quiet,
but
price concessions of from 34c* to
56,680
4,315
9,493
1887.
1,321,595 1,019,818 208,307
per yard enabled some of the agents to close out their
The visible supply of grain, comprising the stocks in granary relativelysmall stocks of bleached cottons on hand. Brown
and colored cottons have not thus far been affected by the
at the principal points of accumulation at lake and seaboard
decline in bleached < goods, but the general market has un¬
ports, and in transit by water, April 14, 1888:
questionably lost a great deal of the buoyancy of tone that ex¬
Barley,
Rye,
Oats,
Corn,
Wheat,
bush.
isted a short time ago.
b}*sh.
Print cloths are in fair demand and
hush.
bush.
hush.
In store at—
52,892 prices ruled firm at last week’s quotations, say—3%c. for
808,288
16,156
136,880
2,648.971
New York
114,700
T)o
afloat
32,000
Stocks last Saturday and for
158,500 64x64s and 3 l-16c. for 56x60s.
56,500
82.100
54,800
Albany
the
three
63.915
previous
were
as
follows :
255,080
years
67,232
53,255
647,595
Buflalo
There
was
'
»
'
*
.
..
“
“
afloat....
Milwaukee
“
afloat...
Jlnliitb
Toledo
Detroit
Osweyo
Bt. Louis
“
Boston.
Toronto
Philadelphia
25,788
6,110
168,600
8,170,969
1,458,280
246.719
249,275
29,489
14,755
16,007
1,352,765
15/217
7,057
10,384
34,000
20,000
1,228,698
1,421,708
383,903
4,837
15,230
128,546
68,000
52,548
87,000
12,000
46,000
96,179
22,190
1,815
498
3,010
179,663
60,097
71,522
350,596
133,745
69,629
3,950
12,753
47,829
2,067
2,525
125.295
455.193
6,604
41,358
111,311
122,717
84,247
59,118
7,668.838
89,442
13,390
196,500
6,300
49,280
58,963
38/203
Baltimore
Minneapolis
435,000
40,000
fit Paul
On Mississippi....
On canal & river.
7,600
14, ’88
7/88.
16,’87..
17/86*.
18/85*'.
32,979.657
33,583,420
50,613.183
45.808.4S3
41,432,681
*
Apr.
Apr.
Apr.
Apr.
Apr.
77,001
2,389,221
Peoria
Indianapolis
Kansas City
41,122
324,631
406,603
218,627
Montreal
219,673
2,067,199
2,716,692
16,000
27,553
155,002
Cincinnati
25,302
863,322
222.405
5,192.872
afloat...
Tot.
Tot.
Tot.
Tot.
Tot.
1888.
47 000
afloat...
Chicago
21,198
16,698
24,142
15,235.0261,791,863
10,287,195 2,514,285
323,880 1,346.873
327.286 1.556.142
358.898
792.044
424,773
701.258
297,686
704,269
Minneapolis and St. Paul not included.
According to BeerbohnTs London cablegram, the amount of
the dates mentioned stood as
wheat and corn on passage at
follows:
1886.
1885.
Print Cloths—
Total stock
169,000
8,323,546 3,457,989
8,803,951 3,777.491
20,032,093 4,279,775
1887.
April 14. April 16. April 17. ApHl 18.
Held by Providence mamifra.. 20,000
75,000
75,000 448,000
Fall 'River manufacturers...
138,000
30,000
10,000
367,000
Providence speculators
None
47,000 255,000 324,000
Outside speculators (est)
45,000
5,000
15,000
275,000
Stock of
Prints
35,000 305,000 375,000 1,414,000
in moderate demand at first hands, and some
(pieces)........
were
large lots were closed out by
jobbers at relatively low prices,
Printed and woven
while the best makes remain unchanged.
wash-drees fabrics, as sateens, lawns, ginghams, &c., were
distributed with considerable freedom, as were white goods,
and prices are without quoiable change.
Domestic Woolen Goods.—There was a continuation of the
light and unsatisfactory demand for men’s wear woolens re¬
ported of late, but stocks are not cumbersome because of a
judicious .curtailment of production, and really desirable
makes of cassimeres, suitings, worsteds, &c., are steadily held
by the mill agents. Overcoatings and cloakings were quiet
as regards new business, but deliveries on account «>f former
transactions reached a fair aggregate amount. Kentucky
jeans and doeskins, also satinets, were in light request, but
stocks are in good shape, and leading makes are steadily held
by the mill agents. For flannels and blankets the demand
was light, as usual at this stage of the season, and there was
only a moderate business in Jersey cloths and stockinets.
Seasonable makes of all-wool and worsted dress goods ruled
quiet in first hands, but some very fair orders for specialties
adapted to the fall trade were placed with the commission
houses.
Week
Crain
To United
on
Passage.
ending Apr. 18.
Wheat,
j
2,2o4,000|
Kingdom..qrs.
326,000)
To Continent
Corn.
377,000
61,000
2,530,000t 438.000
Equal in bushels
; 2 0,240,000; 3,504,000
Bame week in 1887.. bush.: 19,720,000 3,336,000
Total quarters
The exports
leason are as
i
Week
cvdi)>g A))r. 11.
Wheat.
j
Corn.
2,259,000
361,000
324,000
75,000
436,000
20,664,000 3,488,000
19,224,000 2,880,000
2,583,000
of wheat from India for the week, year and
below:
:
u
_
Foreign Dry Goods.—The
shown much animation,
not
market for imported goods has
the demnnd for consumption
having been impaired by the backwardness of the season, aris¬
ing from unfavorable weather conditions. Still a fair business
goods, silks, linen goods, laces, embroideries, &e., was
by importers and jobbers alike, and the most staple fab*
with a fair degree of firmness. The auction
rics are held
icorns w ere sought as an outlet for considerable lines of silks,
dress goods, embroideries and laces, and the results of the
sales^were fairly satisfactory, j
in dress
d<
ne
@FedFRASER