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%
REPRESENTING
MAGAZINE,
MERCHANTS’
HUNT’S
Dkwssjntpn,
INDUSTRIAL AND * COMMERCIAL INTERESTS OP THE UNITED STATES.
THE
,
NO. 1,085.
SATURDAY, APRIL 25, 1885.
VOL. 40.
j
sold during the week in both years ($87,316,000
and
$116,853,000)
being 25’8 per cent. The amounts
THE CHRONICLE.
which
to
remain
represent
other
New York clearings—that is,
Clearing-House Returns
491 The Anglo-Russian Difficulty.. 497
the value of stocks
CONTENT 8.
The Financial Situation
492
The Virginia Debt Situation... 494
Union Pacific and Its Govern¬
ment Debt
495
Monetary
and
English News
Commercial
498
*
Commercial and Miscellaneous
News
500
^hje Chronicle.
The Commercial and Financial Chronicle is
New York every Saturday morning.
is
do
Annual subscription in London
Six Mos.
do
do
as
follows
:
Week EndinQ
published in
1885.
[Entered at the Post Office, New Yorl^ N.Y., as second class mail matter.]
Terms of Subscription—Payable
For One Year (including postage)
clearings arising out of transactions other than stocks—are
respectively $313,878,488 and $419,174,160. Outside of New
York the exchanges reach $257,225,719, against $276,602,905 a
year ago, or a falling off of 7 per cent.
Our usual statement
in Advance:
For Six Months
$10 20
6 10
(including postage)
£2 7s.
do
£i 8s.
These prices include the Investors’ Supplement, issued once in two
months, and furnished without extra charge to subscribers of the
Chronicle.
New York
Sales
JOHN G. FLOYD.
79 & 81
William Street, NISW
Post Office Box, 958.
—On page 505 will be found the detailed returns,
of the National banks, under the Comptroller's call
YORK.
by States,
of March
10, kindly furnished us by Mr. Cannon. Previous returns
were published—those for Dec. 20 in the Chronicle of Feb.
21, page 23S, those for Sept. 30 in the issue of November 15 on
page 551.
'
hales.)
(Cotton
(Grain.. .bushels)
(Petroleum, .hbls.)
Boston
Providence
....
New Haven
Portland
Worcester
.t
Springfield
Lowell
Total N. England
Philadelphia
Pittsburg
Baltimore
Total
Middle...*.
Chicago
Cinninnat.i
Milwaukee
Detroit
Indianapolis
Peoria
Pe
r
Cen
$401,534,492
-30A
(1,019,693)
(255,900)
(+7*3)
(-54*8)
(4-14-2)
$652,880,160
-252
(1,420,758)
(652,400)
(50,077,500)
(33,015,000)
(1,924,042)
(857,400)
(42,893,000)
(124,980,000)
(-25-8)
(-2S-9)
(+30-7)
(-73-1)
(51,080,000)
(33,163,000)
$71,902,039
4,490,100
$67,438,894
4,429,900
1,617,970
1,232,391
+0-7
$63,000,681
-30
+1-5
-25
-26'4
(-64*2)
854,700
S45,984
739,303
-110
498,187
-12-7
8,801,100
1,026,618
1,178,630
928,923
737,345
778,730
482,950
$81,835,389
$77,057,335
+5-4
$72,490,977
-34
$45,329,304
7,107,500
11,508,234
$58,314,122
13,620,999
14,340,203
-22-3
-34-8
—19*3
$45,742,859
7,501.425
11,703,134
$04,005,164
$86,275,324
-25-8
$64,947,468
-3-8
$40,140,678
8,605,650
3,067,004
2,390,594
1,259,672
1,984,274
$43,483,429
9,079,900
3,031,442
2,571,658
1,504,238
2,409,134
1,502,430
fo-i
$40,133,877
9,173,6:0
—17-3
-111
+U2
2,822,S83
-20-3
-7-0
2,495,253
1,136,017
1,882,890
1,281,960
772,510
1,480,295
739,025
Columbus
Apr. 11.
$488,510,488
1,455,081
1,097,750
871,022
859,298
057,958
434,941
Cleveland
CLEARING HOUSE RETURNS.
1884.
1885.
Per Cent.
of—
(Stocks....shares.)
Hartford
Subscriptions will be continued until definitely ordered to be stopped.
The publishers cannot be responsible for remittances unless made by
Dralts or Post Office Money Orders.
A neat file cover is furnished at 50 cents; postage on the same is 18
cents. Volumes bound for subscribers at $1 00.
WILLIAM B. DANA
Co., Publishers,
WILLIAM B. DANA.
Week Ending
April 18.
807,355
-io-o
-10-9
+2-0
+1-0
-47*8
-10-3
-17-6
—1-5
-8-4
4-0-7
4-22-0
4-35
-18-3
-4-6
4-31
4-0*7
4-0-0
4-21
—13*1
-13-7
-5-1
4-23-7
-130
present statement of exchanges exhibits a decided im¬
+1-0
$59,099,152
Total Western...
$64,989,580
$65,007,792
-12-3
provement over those immediately preceding it, not only in St. Louis
-37
$15,739,969
$10,485,031
$15,809,420
-1-7
725,198
the larger total compared with previous weeks in April, but St. Joseph
037,198
704,255 -10-6
-15-9
7,627,052
11,161,123 -4F8
New Orleans
6,490,289
also in the smaller percentage of decrease compared with the
-0-0
4,095,316
41*6
4,325,919
4,393,904
Louisville
4-20-5
3,662,287
figures of a year ago. The aggregate for the week is $745,- Kansas City
3,109,742 +42-8
4,441,940
-20-8
4-28-3
1,624,479
1,471,194
1,033,507
736,207 (an increase over April 11 of $102,986,214) against Memphis
-8-2
$34,074,301
$37,817,809 —11-9
Total Southern..
$32,860,324
$929,483,065 for the corresponding six days in 1884 (an excess
4-10-3
$10,003,003
+240
$10,302,791
over the preceding week of that year of $95,384,719), or a decline
San Francisco
$12,851,050
-229
this year compared with the same week last year of 19*8 per
$042,749,993
Total all
$745,736,207- $929,483,065 -19-8
our
cent.
In
five-day table by telegraph given last Saturday
The clearings for the five days, as received by telegraph
the decline appeared to be 19*1 per cent, showing that the fivethis evening, show that while at all points there has been
day statement afforded a very clear forecast of the week’s total.
some falling off from the totals of last Friday the comparison
As to the separate cities, thirteen exhibit larger totals than a
with a year ago, except at New York, is more favorable than
week ago, and of these Boston, Chicago, San Francisco, Kansas
then.
Boston and Chicago continue to record figures in
City, Worcester, Providence and Milwaukee, and in addition
excess of 1884 and they are this week joined by St. Louis.
Portland and Louisville, show an increase over last year. For
Five D'ys Ejid'gApr. 17
Five Days Ending April 24.
the first time since we began the publication of these returns
Chicago records an excess over the previous year. This is
Percent
Per Cent.
1885.
1884.
1885.
due in part to larger clearings this week, compared with last
-24-4
$413,990,720
$592,087,880 -37-5
$370,007,741
New York
week, of over $6,000,000, and in part to the fact that during Sales of Stock (shs.)
(1,147,2731 (-331)
(2,223,391) (-58-2)
(929,501)
4-3*0
58,495,8071
4-6-9
51,360,550
54,919,242
the same time in 1884 there was a decline of over $5,000,000. Boston
-23-0
37,738,064
42,184,922 -16-0
35,180,018
Philadelphia
The gain this year cannot probably be ascribed, at least
—201
—9-2
10 145 902
9,619,407
9 211 947
4-65
38,754,000
4-7-1
34,407.006
30,802,000
mainly, to an improvement in general business, but to the Chicago
—4*4
13,202,241
4-2-2
11,900,055
12,229,300
St.
Louis
speculation in breadstuffs at.that city during the period which
-20-1
$571,800,899
Total
$518,416,308 $742,152 909 -30-1
the figures cover. The New England and Western sections
-6-5
54,078,931
63,783,855 -133
55,290,049
Balance,
Country*
present increases over 1884, the former of 5*4 per cent and
-19- L
$025,885,830
Total all
$573,712,957 $805,930,824 -28*8
the latter 1 per cent.
-0-1
-47
$211,8fc9,110
At New York the total loss, compared with a year ago, is Outside New York $203,705,210 $213,848,944
25‘2 per cent, the percentage of decrease after deducting double
Estimated on the basis of the last weekly return^
The
—
-
*
THE
492
[VOL. XL.
CHRONICLE.
C.
millions in value to
THE FINANCIAL SITUATION
imports, " making them nearly 53 million dollars,
The warm, forcing weather which has prevailed quite against about 42 millions a month for the three previous
months.
To give the reader a comprehensive view of the
generally over the country during the past week is a fea¬ trade situation, we have prepared the following statement
ture of no little promise.
Accompanied as it has been of the
foreign trade for the last six months.
with seasonable rains in most sections, the effect on the
TRADE OF THE UNITED STATES— (0003 Omitted.)
crops must have been very favorable. With a continuance
Silver.
of these conditions we ought to be able to know by the
Excess
Excess]
first of May not only the real situation of winter wheat,
of
Imp'tsl
of
Exp'ts
of
Imp'ts Exp'ts
Exp'ts\ Imp'ts
but the extent of the spring planting, while corn also in
Exp'ts
Imp'tsl [
Exp'ts
$
*
1
$
$
*
*
many sections will by that time be fully underway.
We 1834-85. * j *
2,57-1
2,237
1.943)
031
2,430
19,300
71,073!
51,713
notice that in the South corn is already reported as well October...
l,43Si
1,850
7,739
8,188
79,733: 45,518 34,205
2,144)
1,334
3,473
1,815
2,418
started and cotton planting as making such progress that
1)1,295; 42,139; 49,15(3
1.093r 1,136
630
2,229
1,440
2,070
80,5(32i 42,218! 38,344
it will be nearly completed, except in more northern lati¬
2,507 .1,003) 1,504
1,630
1,887
53,959, 42,024 11,035
1,283
1,880
3,119
1,757
1,002
tudes, by the end of the month. We are preeminently an March...... 51,3(33) 52,905
9,457!
0,300
13.590
15,757
5,155
18,751
428,035'276,577 151,458
6
agricultural country, and from that source our growth in
of imports.
wealth and our power to recuperate must chiefly come.
It should be said of the above that in March we exported
Consequently these improved weather conditions have
no more bushels of wheat, of wheat flour and of corn than
helped to remove the anxiety which was beginning to be
did last March, and over 25 per cent less of each than
felt, and infused a more hopeful spirit in business circles
in March, 1883, although our surplus of both cereals is
generally.
undoubtedly much larger than in either year named. For
Other than the crops, it is impossible to ignore the fact
subsequent months this may change and make the exhibit
that the progress of the Anglo*Russian dispute and the
less unfavorable.
Still, as it stands we have a notable mer¬
which it threatens, still has a chief place ,in men’s
chandise excess for the six months, which should serve ns
minds as an intluence which will be likely favorably to affect
and under ordinary conditions would serve us, in the stead of
trade.
Of course war opens up a wide question, and to
gold exports. We notice that several of our exchanges have
attempt to foretell the changes and influences such a strug¬
criticised our suggestion of a month ago (when the Feb¬
gle would cause and exert if long continued would require
more of the prophetic spirit than most men possess.
Yet ruary trade figures were issued) as to the cause for the
the immediate results almost
any one can see and high rates of exchange while such a large trade balance
existed, and seem to find an answer to our suggestion in
measure.
We all know for instance (1) that food products
the fact that in 1877 to 1879 we had a larger trade bal.
would to an extent rise in price, and (2) that cotton would
ance but no gold imports.
Those writers appear to have
for a time at least decline in price.
But a more serious
forgotten how that old balance was paid. We were very,
because a controlling question would be its effect on the
very largely in debt then and took in our obligations in
money markets of the world, for that influence, under our
preference to gold, a necessary preliminary to specie pay¬
present wretched currency system, would attack us at our
ments.
Now Europe holds comparatively few in amount
weakest point.
It is well to ask therefore whether a state
of our bonds and stocks, and in the past six months has not
of war between two such nations would not naturally
make capital conservative and lead on the Continent as probably sent us more in value than it has taken, so that the
trade balance noted above has not been paid in that way. Of
well as in England to a strengthening of bank reserves; and
one thing our
critics may be assured (excuse us for
if so would not we, under the circumstances, be the source
keeping infant school constantly) that currency laws cannot
from which their new supply would have to come ?
be violated without disturbing - the natural movements
This is a mere hint, but may perhaps cover an import¬
of trade;' we have violated them and are suffering
ant suggestion-; for with gold flowing out of the country
for it, and will suffer worse if we do not take heed in
would speculations in wheat or in fact anything else be
time.
promoted ? Would there not rather be a natural effort
It is a very encouraging feature at this juncture in our
to stop that outflow, and how could it be done except by
monetary affairs to find that our new Administration is
new depression in business which would effect a further
gaining strength in public estimation. The appoint¬
decrease in imports and an increase in exports.
One is daily
ment this week of Conrad X. Jordan to be Treasurer
reminded of this feature in the situation by the fact that
could not possibly be Improved upon, and the President
foreign exchange has gone up again this week and is now
and Secretary Manning show by it their determination to
only just below the gold-shipping point, while what we
have the Government conducted on honest, open business
call money is a drug here and continues at 3 per cent in
Mr. Jordan is a radical, reformer, has an
London.
We hold, therefore, no check whatever on gold principles.
active and very suggestive mind, and great executive
exports, for our forced currency keeps our money market
outside of natural influences.
In fact this week our ability. Those who have had the closest business relations
with him hold him in the highest esteem.
The Treasury
Clearing House banks that pay interest on deposits have
statement of last month is an excellent
illustration
had a meeting to see if they could not come to an agree¬
of his character and methods.
As is well known, it was
ment to pay less than 2 per cent hereafter, as they cannot
We do not believe that
without too great risk earn the 2 per cent they pay now. prepared under his direction.
one person in a hundred who has read the monthly state
Consequently, we can see nothing in this feature of the case
ment heretofore has understood it, while no one could fail
through the addition of nearly 11
our
FOREIGN
Gold.
MERCHANDISE.
i
Excess
-
i
i
193
November.
003
December.
January...
251
February..
*
Tot.
412
444
833
'924
mos.
*-Excess
we
war
a
immediate effect of the war
to understand it in the new form in which it
was issued
will be to give a new impetus to enterprise here.
on the first of April.
In a similar manner we believe it
This idea is further enforced by the changed con¬
ditions our foreign trade is now assuming.
The Bureau will be Mr. Jordan’s aim to simplify and make plain all
the affairs of the Treasury, and so to conduct its opera¬
of Statistics has this week issued its March statement,
tions as to aid and not to interfere with private business
which shows an excess of imports during that month, a
result reached not mainly through diminished exports, for enterprise, ft is a great satisfaction to have these recurring
evidences that the Administration is alive to the country’s
they are only 2.J- millions less than in February, but
that favors the idea
that
an
and we cannot doubt that if war
comes, and there is any way for the country to take
advantage of it, affairs will be so conducted as to secure
other securities any
industrial interests ;
benefit is possible. *
On a subsequent page we give to-day through the kind¬
ness of the Comptroller of the Currency our usual detailed
statement of the National banks made up under the last
call, March 10. It is very gratifying under the circum¬
stances to note from these returns the remarkable strength
of our banks throughout the country, fitting them so well
to meet any emergency which may be in store for us.
Our city institutions have shown by their weekly returns
how thoroughly they are fortified, but it seems that simi¬
lar preparations have been in progress in every section. We
have not the space here to give any details, but the
following statement of actual cash holdings (not including
silver) and the total deposits for three years in March,
will be interesting as well as reassuring.
whatever
Cash Holdings by National
Gold and gold
field
Clearing House certificates,
Treasury eertifleat os
Total gold
Legal tenders
Total rash
not
Including silver
f
8
*
02,377,4(35
5,523,400
81,928,088
27.660,450
83,160,463
70.250.S60
97,900,865
58,266,439
109,589,138
89,892,095
153,411,323
93.777,322
150,167,304
199,481,233
247,188,045
comparison makes the bank holdings nearly 100
greater of gold and legal tenders than in 1 SSI,
and nearly 50 millions more than in 1SS4: while the
millions
deposits
millions
.
really less than in 1SS4. and only about 05
are
more
than in 1881.
Our stock market has been featureless
during the week.
selling of the Granger stocks, claimed
to be on account of the rate cutting by the roads ; an
appreciation of the Missouri Pacific securities following the
settlement of the Marie-Garrison suit ; a better feeling
with regard to the Pacific stocks and Pacific Mail under
the report that their' differences were in a fair way of
being arranged ; a movement in Lake Shore on account
of certain rumors respecting its relations with the NicklePlate foreclosure or settlement; besides other changes and
rumors, none of which were of any considerable import¬
ance, and many of which had little of fact to support them.
The truth is, there is no significance just now in the fluc¬
tuations on Wall Street. There is danger in selling stocks
and no prospect of profit in buying them, so what goes on
is in general a kind of fencing operation mainly among
professional speculators, with some investment demand
There
was
some
for bonds and the better class of stocks.
day has elapsed
but some new plan of reorganization has been offered, the
better opinion on the street is tending strongly in favor of
plan of the Reorganization Committee headed by Mr.
Abram S. Hewitt.
The new plans are almost all imprac¬
and
some
ticable
of them quite unreasonable, while the
committee’s plan has many merits, and can with certain
modifications be made wholly unobjectionable.
To some
of these we alluded when the proposition was first sub¬
mitted, and we notice that the suggestions we then made are
being followed in great degree. For instance, Mr. Bulkley.
the secretary of the committee, has prepared a rough draft
of the disposition to be made of the new 25 million mort¬
gage, and his figures will be found in our investment column
on another
page.
Then the committee have addressed a
In West Shore matters,
letter to Mr.
though hardly
a
Stewart, the counsel for the United States Trust
Company, trustee of the mortgage, bearing upon the terms
to be made with the holders of the
terminal property, as
to which there had been much criticism.
They state that
it is not their intention “ to pay
in
money or
in bonds
greater consideration for the acquire¬
properties than is necessary for the
terminal
retaining terminal facilities and than is
They also
declare
their unanimous
belief
that it will be necessary to issue only a part of the
common stock referred to in
the proposed agreement.’’
This latter agrees with what we said in our article, and is
important because it substantially reserves to the holders
■of the first preferred stock (the present first mortgage
bondholders) the control of the property, inasmuch as it
will leave the amount of first preferred stock greater than
that of the common and second preferred combined.
With the control of the property thus assured to them, we
944,012.909 1,059.863.303 1.010.548.212
Total deposits
This
1884.
18S1.
ment of the
March 10.
ISS3
March 7,
Hanks of United i March 11,
States.
493
CHRONICLE.
THE
25, 1885. |
APRIL
or
purpose of
reasonable.”
do not
see
that the old bondholders could do
much better
It should be remembered that a
probably the smallest amount that
can with advantage be placed ahead of the old bondholders
in any event, and therefore we are inclined to favor
the scheme.
A good suggestion has been made, how¬
ever, which the committee might take into consideration
namely that such of the bonds as are given in exchange
for terminals and other existing liens bear only 4 per cent
while those that are sold in the market to get money for
betterments, etc., bear 5 per cent. It is argued that it
would be easier to get consent to a reduction of interest
than to a reduction of principal, and that in the way pro¬
posed the amount of annual charges ahead of the
stock would be diminished.
But, after all, the great de¬
sideratum is to obtain a speedy settlement of this difficulty,
for so long as the dispute is continued, there can be no
hope of placing the West Shore property on a sustaining
basis.
When therefore a plan is offered which in all its
essential features seems satisfactory, it can hardly be
deemed wise to oppose it because of some minor defects of
detail.
Not only on its own account, but because it would
remove a serious obstacle in the way of rehabilitating rail¬
road interests generally, do we earnestly advocate an early
adjustment of this West Shore difficulty.
Pennsylvania Railroad's statement for the month of
March, issued this week, is not reassuring as to the course
of trunk line business.
The loss in net earnings as
compared with 1881. is but little less than in February,
and the falling off in gross is even heavier.
This falling
reaches
off
$367,253, and comes after a decline in the
previous year of $186,753, so that since 1883 the March
receipts have diminished $554,006. In net, owing to a
saving in operating expenses, the contraction is only
$243,442 as compared with last year, and $294,318 as
compared with T883 ; but if wo go back to 1881, the best
year for net the company has had in March, we find a
total of $1,799,226, against only $1,161,109 now.
The
weather conditions during the month this year were of
course more favorable than in February, and that enabled
the company to effect a greater reduction in expenses,
but all the other adverse features previously existing
still remained in operation.
Traffic continued small,
business depressed, and rates low.
The reduction of onethird in the usually profitable west-bound freight, par¬
ticularly remained a circumstance of an unfavorable
nature.
On the Western system, owing to the better
crops of last season, there is a slight improvement over
the result of the previous year, but that follows simply
because the result in that year was unusually bad.
There
is no improvement over any other year.
On the contrary,
there is a decided loss.
In the following we compare both
the Eastern and Western lines for a number of years. The
Western lines, of course, report merely so much surplus
or so much
deficiency in meeting all liabilities for the
period given.
under any other plan.
25 million mortgage is
THE CHRONICLE-
494
Lines East op
1885.
1934.
18S3.
1882.
1881.
1880.
$
$
4,002,627
3
4,189,380
$
3
$
Pittsburg.
3,635,374
2,474,205 2,598,076
Gross earnings
Operat’d expenses.
2,733,953
3,912,293
2,496,491
3,844,304
2,045,078
3,278,186
1,766,938
Western lines
1,161,109
-56,040
1,404,551 1,455,427
-96,039 +153,866
1,415,802 1,799,226 1,511,248
+45,163 +374,421 +615,059
Result
1,105,069
1,303,512
1,008,793
1,460,965 2.173,647 2,126,307
Net
parnings...
Jan. 1 to
000 francs
silver, and the Bank of Germany since the last
gained 8,640,000 marks. The following indicates
return
March.
[VOL. XL.
the amount of bullion in the
this week and at the
principal European banks
corresponding date last year.
April 23, 1885.
April 24, 1884.
Gold.
Silver.
Gold.
£
M
£
'
Silver.
April 1.
9,988,596 11,003,593 11,830,952 10,592,364 10,129,133
7,006,424 7,308,327 7,567,773 7,022,675 5,964,942
Gross earnings
Operat’g expenses.
Net earnings...
Western lines
4,164,191 4,109,728
-12,286 +920,650 +1049,129
2,932,172 3,695,266 4,263,179
-320,240 -352,310 +276,640
3,569,689
4,539,819
3,557,403
2.661,932
Result
3,342,956
9,306,313
5,196,585
5,084,841
5,158,857
Bank of
England
Bank of France
Bank of
Germany
...
£
25,897.863
25,327,730
41,890,730 42,599,697 40,126,574 40,088,613
7,164,000 21,492,000 7,600,000 22,800,000
74,952,593 64,091,697 73,054,304 62,888,613
Total tills week
74,123,460 63.682,528 72.351,038 62,326,553
glance at the above to see how seriously Total previous week
The Assay Office paid $82,825 through the Subthe income of the Pennsylvania system has fallen off in
recent years.
The Western lines were the first to be Treasury for domestic bullion and $209,073 for foreign
adversely affected, and against a surplus of $615,059 in bullion during the week, and the Assistant Treasurei
March, 1880, we now have a deficit of $50,040, but the received the following from the Custom House.
Eastern lines have latterly shared in the downward move¬
Consisting of—
Date.
Duties.
ment almost as strikingly—they had net, as already stated,
TT. S.
Gold
Silver Cer¬
Gold.
Notes.
of $1,799,226 in 1881,against only $1,161,109 now. On the
Certiflc’s.
tificates.
It needs but
a
..
system combined the result is $1,105,069 this year, against
$2,173,647 in 1881 and $2,126,307 in 1880. The exhibit
for the three months ended with March, is equally unsatis¬
$266,126 00
$3,000
$33,000
$100,000
$131,000
“
18.
330.184 58
8.000
83,000
82,000
“
20.
605,661
509,973
319,541
401,912
46
81
14
04
4,000
177,000
2,000
122,000
106,000
45,000
3,000
79,000
150.000
169,000
157,000
302,000
252,000
122,000
151,000
$2,433,399 03
$24,000
$468,000
$825,000
$1,115,000
Apr. 17.
factory. There is a loss of about $700,000 as compared
with 1884, of about $1,900,000 as compared with 1883, of
$2,400,000 as compared with 1881, and of $2,500,000 as
..
“
21.
“
22.
“
23.
Total.
4,000
147,000
compared with 1880.
THE VIRGINIA
Bankers’ balances remain
unchanged at 1@1^ per cent,
accurately reflect the condition of the
but these do not
market. The banks are lending' only upon the
most acceptable collateral, and paper that has the slightest
taint will not be bought at any price.
A very unusual
but not large movement is noticed by the Chicago papers.
Borrowers in that city are said to be resorting to New
York for accommodation, not because money cannot be
obtained there, but for the reason that a little better induce¬
ments are offered here.
The following statement, made
up from returns collected by us, exhibits the receipts
and shipments of gold and currency by the New York
banks during the week.
money
Week ending April
Received by
24,1885.
Net Interior
Shipped by
Movement.
N. Y. Batiks. N. Y. Banks.
$3,061,000
$530,000
Gain...$2,531,COO
Gold....’
legal tenders..
Total gold and
$530,000
$3,061,000
..
Gain.. $2,531,000
The above shows the actual
of
changes in the bank holdings
gold and currency caused by this movement to and from
the interior.
In addition to that movement, the banks have
$500,000 through the operations of the Sub-Treas¬
lost
Adding that item, therefore, to the above, we have the
following, which should indicate the total gain to the
New York Clearing House banks of gold and currency
for the week covered by the bank statement to be
issued to-day.
ury.
Week ending April
24,1885.
Into Banks.
Banks’ Interior Movement, as above
Suh-TreiLsiiry operations
Total gold and
legal tenders....
Out
of Banks.
Net Change in
Bank
$3,061,000
5,300,000
$530,000
5,800,000
$8,361,000
$6,330,000
Gain.
Loss.
Holdings.
$2,531,000
500,000
Gain. $2,031,000
DEBT SITUATION.
Virginia has again been thrown'into financial and polit.
Whatever may be the outcome of this new
ical confusion.
phase in her debt question, the decision of the Supreme
Court handed down this week, which has incited the
present agitation, will be for one reason at least a source
of deep gratification.
The Court by it clears up a doubt
which hung around a previous decision, and holds sub¬
stantially that repudiation cannot be so disguised by law
as to permit the repudiators to masquerade in the character
of honest men.
There was urgent need for this last inter¬
pretation by the Court, .and public morals will be benefited
by it, regardless of the final influence of the decision on the
question of St^te rights, or on the special question of the
State’s indebtedness.
It
is therefore the
general principle involved and its
application that gives to the present crisis in the
Virginia litigation its chief interest. We shall better under¬
stand the significance of the decision and the consequent
situation, if we recall the several steps which have led up to
it. We may presume that all are familiar with the funding
measure.
It was passed March 30, 1871, and in substance
provided for the issue of new bonds in the amount of twothirds of the State’s old debt, the coupons of the new bonds
being made “receivable at and after maturity for all taxes,
debts, dues, and demands due the State.” Under this act
up to March 7,1872, about 30 millions of old debt was sur¬
wide-
“
rendered and about 20 millions of
debt
issued, the
other 10 millions being taken in certificates and claimed to
be chargeable to West Virginia. On March 7, 1872, the gen¬
eral assembly of the State passed what is, we believe, known
new
was
bonds have been very strong this week, in the literature of the State as “ Coupon Killer No. 1,”
the demand for investment coming on the market at a which by its terms directed collectors of taxes thereafter
Government
only gold, silver or United
as another reason for the
advance that some operators
law, however, so far as it
affected
have made large speculative sales of these bonds in the
parties who had already funded their bonds, was
soon
after held by the State Supreme Court to be uncon¬
expectation that the outbreak of war in Europe will
time when there is
cause
the return
a
of
scarcity in the supply.
some
It is stated
of these securities
now
held
The Bank
of
England gained £325,243 during the
£183,000 received from abroad,
and £142,243 from the interior.
The Bank of France
reports an increase of 9,897,000 francs gold and of 2,129,'-
stitutional.
Riddleberger and the
Readjuster party, their efforts culminating in the passage
in 1882 of two laws which have also been designated as
“Coupon Killers,” giving rise to all the late litigation,
and providing substantially that until a jury had passed
Next
abroad.
week.
receive in payment thereof
States or bank notes.
This
to
This represents
came
Messrs. Mahone
and
•
April
25, 1885.]
495
THE CHRONICLE.
grand old commonwealth is once more in a
position to command the world’s capital for the develop¬
Furthermore there
ment of its marvelous resources.
that of 1872, it was
never was so favorable
a time for making a satisfactory
equally an interference with the contract; and there¬
fore void.
But in March, 1883, the Supreme Court of compromise. Interest is extremely low, and a low-rate
bond, backed by a disposition on the part of the State
the United States rendered a decision in a case under it,
once again to live up to its contracts, which such a settle¬
which on its face appeared to sustain the law, and to
ment affords the evidence of, would bring the basis for an
sanction this attempt to avoid payment. The unfortunate
agreement easily within the tax-paying ability of the
feature was, as already stated, not so much that Virginia
people, and make the honorable way out of the difficulty
repudiated its debt, as that the Supreme Court by its the
cheap way as well. Is not Georgia's success this
decision was supposed substant *11 y to say that in doing
week in borrowing money a good illustration of the wisdom
so, it did not violate or impair the contract, thus as it
of meeting one’s honest obligations?
And would not
were legalizing repudiation.
But. in September, 1883, a decision of Judge Bond anyone feel greater self-respect and better satisfied to-day
in acknowledging himself a citizen of Georgia than a
made it evident that too broad a construction had been
citizen of Virginia ?
given to the March decision. Then it became apparent
that the Court did not intend to pass upon and did not
UNION PA CIF1C AND ITS GOVERNMENT DEBT.
pass upon the question of the liability of the State or the
The detailed report of the Union Pacific, among other
rights of the coupon holder, but simply held that the
mode of establishing the genuineness- of the coupon which things very naturally treats at length of the relations of
the State had authorized, could stand because it did not the company to the United States Government. There is no
and could not affect the main question ; that all the feature of the road’s affairs at once of greater importance and
coupon holder had to do was to tender his coupons for his greater uncertainty and none upon which the property’s
value and future so largely depend.
Mr. Adams is very
taxes, and the collector must take them or refuse them at
his peril.
At this stage of the controversy comes in the anxious to impress upon the public the idea that the com¬
decision of this week which on the point of the State’s pany has always labored faithfully to live up to the Gov*
liability seems to be full and satisfactory, not leaving eminent requirement, has observed its every obligation,
enough life in the Riddleberger law to have a quarrel over. acted invariably upon the advice of counsel, and instead
The Court says that by the terms of the funding act “ a con- of attempting to defer the matter, has sought nothing so
tract was made between every coupon holder and the much as an early settlement and adjustment of the diffi¬
The new management thus under¬
State that such coupons would be received at and after culty and dispute.
maturity for all taxes, &c.,” and any act forbidding such takes not only to justify its own course, but that of the
receipt is void ; “ that the lawful tender of payment of previous administration, and to defend it against charges
As, however,
taxes is equivalent to actual payment, either being of bad faith and attempted evasion of law.
the
final
payment in adjustment of all claims up to January
sufficient to deprive the collecting officer of all authority
*■“ for further
action and making every subsequent step 1, 1885, has now been made, it is hardly worth while to say
illegal and void.”
So where the coupons have been more on that point than simply that if the zeal which Mr.
tendered foF taxes and refused, proceedings by seizure Adams has manifested ever since entering upon his duties,
and sale of property taxed can be enjoined by the Court. had formed part of the earlier management, the path of
Some further legislation was perfected by the last Vir¬ Union Pacific in recent periods might have been less
coupon, and pronounced
could not be received for taxes.
that like
as to this statute was,
upon a
it to be genuine, it
The popular opinion
and that
,
“
“
u
“
“
t:
ginia Legislature, the more effectually to carry out the
object of preventing the receipt of coupons for taxes.
Among these the leading measure was the act passed
March 13, 1884, which abolished the action of trespass
against officers levying after tender of coupons and
changing the process of verification of coupons from
a summary proceeding to a regular suit.
But these later
statutes alter in no respect the effect of the present decision
which establishes in his favor every point contended for
by the bondholder ; affirming (1) the right and power
of the United States Supreme Court to compel the officers
of a State to exercise their ministerial duties and obey a
constitutional law, (2) the duty of such officers to disregard
subsequent unconstitutional law passed by the State,
(3) that coupon-killer acts are unconstitutional and inferentially that all such devices are void, being in direct
violation of the Original contract to accept them for taxes.
This would seem to leave the State absolutely defenseless
any
beset with difficulties.
'
This, however, and the final settlement as well, is already
the past.
It is of course satisfactory that as
far as existing law is concerned, the company has now
a
matter of
fulfilled every demand of the Government.
But neverthe¬
less the ultimate disposition of the Government debt ques¬
tion is
as
much involved in doubt as ever.
It is admitted
side that the Thurman act is inadequate
That act was passed
with the idea that it would provide a means of meeting
the debt owing the United States, at maturity.
Though
much better than the provision under the original law, it yet
falls far short of the requirements. In the late year alone it
permitted an accumulation of interest (to be added to the
original debt) of $800,000. That certainly is to be avoided,
even if nothing is done to diminish the previous accumula¬
tions, or towards reducing the principal of the debt. This
principal amounts to only $33,539,512, but the total debt
due the Government on December 31, 1884, was $48,864,250, the increase representing the interest accumulationsNeither the principal nor the interest is due till the
maturity of the bonds—1895 to 1899—and with a further
on
every
to the
demands of the situation.
against this special contract. Even the proposition now
being agitated to repudiate the whole debt, if it could be
carried out would not avoid the coupons so far as they
have been made a legal tender for taxes.
There seems, then, but one sensible course for the State accumulation of $800,000 per year, as in 1884, for four
to pursue under the circumstances, and that is to effect a teen years, it is easy to see that the debt would reach an
compromise with its creditors at the earliest possible aggregate nearly double the principal sum of the bonds.
How would the road meet that large debt ? and what plan
moment.
Anger, agitation, public meetings, re-arguments
will only prolong the agony, but can avail nothing either would prove least vexatious and harmful and best promote
in avoidance or payment of the debt.
On the other hand, the interests of all parties concerned ?
Mr. Adams’ views are well known, and he takes pains
with a settlement effected, the credit of the State is restored,
as
THE CHRONICLE.
496
[vol, xl.
the same.
Mr. Adams affirms that not all of the branch
in the present report. He disapproves
of the policy of compelling the company to provide a systems are profitable in themselves, but calls attention
to the fact that they have built up the traffic of the older
sinking fund out of earnings, and keeping it in the
lines. We have already seen how heavy the loss in earnings
United States Treasury.
He complains justly of the low
has been, both in gross and net, on the 1,800 miles of Union
rate of return the company gets on its money in that
Pacific road proper, but that is due to the multiplication of
way.
He thinks the money could be employed to much
better advantage in building new branch lines and feeders competing lines, the diminution in traffic as a result of busi¬
ness
depression, the decline in rates, and other causes.
to the main stem, as has been done in the past.
These
Who can tell what the loss would have been if the com¬
would increase the business and earning-power of the sub¬
sidized lines, thus improving their value, and as additional pany had not its immense system of branches to gather up
traffic for it in the territory tributary to its main road?
One
security he would deposit the bonds and stocks of the
branch roads so constructed with the United States Gov¬ may well believe Mr. Adams’ statement that without these
contributions of business from the branch roads, the main
ernment.
This he thinks would be a better sinking fund
for both the Government and the company than that system to-day would not be worth the first mortgage on it.
It is the local traffic that constitutes the Union Pacific’s
now provided, and at the same
time the plan would be a most
important business, and it is this local traffic
great benefit to the communities that would get the
that the branches are all the time enlarging and extending.
needed railroad facilities through it.
Mr. Adams dwells
Consequently the branch system, far from being a source
at length upon the value of the Union Pacific system of
of weakness, is a source of strength.
In building it,
branches, as it now exists, and upon the popular miscon¬
too, the lien of the Government has not been impaired,
ception which would class them as iL suckers,” instead of
but rendered more secure.
The Pacific Coast traffic which
feeders—that is, regard them as a drain upon income,
the road was originally built to get, no longer amounts to
instead of a source of gain to it.
There are too many new lines sharing in it,
what it did.
There can be no doubt that in the public mind there is
and rates have been greatly reduced.
The report gives
much misapprehension as to the nature of the branch
some figures that show how this Pacific Coast business has
system of roads, and their responsibility for the recent
dwindled in the last three years, which we copy below.
misfortunes of the company.
The prevalent opinion
to state
them again
134881
that, except for these branches, the company
would now be in an exceedingly prosperous condition
While it is doubtless true that the large floating debt
seems
to be
PACIFIC COAST BUSINESS.
$3,703,657 out of total freight earnings
“
«
2,746,473
«
2,512,507
“
“
“
1,695,000
“
“
“
of $15,559,528
13,905,490
12,939,540
11,312,70S
Still, though it can not be controverted that the exten¬
has carried, accrued as a direct result
sions and investments of recent years, have tended to add
of the construction of branch and auxiliary roads, it
to the value of the property on which the Government has
should be remembered that a circumstance of far greater
a mortgage, it by no
means follows that the Government
importance in its effects and tendency is the great
should permit or encourage a continuance of the same
diminution in earnings and income that has taken place, and
this has occurred not chiefly nor even largely on the branch policy, if the payment of the debt due it is to be in any
manner interfered with
or, deferred thereby.
The Gov¬
lines, but almost entirely on the main system. On this
ernment has nothing to do with running the railroad.
It
point the following figures from the^report, giviug first
is not even concerned in making the property profitable
the earnings of the Union Pacific system entire, and then
to the stockholders.
Whether the same get much or little
those of the main system alone, will prove of interest.
is of no consequence to it, so long as adequate provision
UNION PACIFIC SYSTEM ENTIRE.
exists or is made in protection and liquidation of its claims
1880.
1881.
1882.
1883.
1884.
upon the property. The Government advanced a large loan
2,766
3,125
4,121
3,633
4,420
Average miles
$
to the company at the inception of the enterprise, and is
*
?
$
$
25,791,200 28,716,140 29,543,875 29,124,687 25,246,378
Gross earnings
15,113,053 15,899,402 15,241,961 15,810,080 12,121,940 making further advances for interest from year to year, and
Expenses and taxes.
the only concern it has in the road is to get its money back
10,678,147 12,816,738 14.301,914 13,284,607 13.124.433
Net earnings
without loss.
It is not its province to engage in railroad
UNION PACIFIC MAIN SYSTEM.
business even indirectly.
If future extensions are neces.
1880.
1&S2.
i 1881.
1883.
1884.
1,821
1,821
1,821
|
sary to the success of the undertaking, that is the business
1,821
1,832
Average miles
$
*
$
$
$
of the stockholders, and they must solve the problem how
17,970,970 21,002,542 22,823,884; 24,238,817 22,455,135
Gross earnings
Without the branch roads as they now exist, the
9,100,085 10,354,541 10,727,049' 12,480,343 10,515,120 to do it.
Expenses and taxes
11,910,015
11,778.474
12,096,835!
10,648.001
8,870,885
Net earnings
Government lien might not be worth its full amount, but
To protect
We here see that the net earnings on the Union Pacific in that event what would the stock be worth ?
system entire have fallen off from $14,301,914, in 1882, their own interests stockholders must pursue an aggressive
to $10,678,147 in 1884, or $3,623,767.
Now, how much policy, even as they must see to it that provision for meet¬
of this are the branches responsible for ?
We find that ing the debt to the Government is made, lest their equity
in the property be wiped out or jeopardized.
on the main line alone, without the branches, the net have
In constructing the branch system, Mr. Adams declares
fallen from $12,096,835 to $8,870,885, or $3,225,950.
Hence ,the decline on the branches has been less than that the directors always had the Government debt in
$400,000. The gross earnings on the branches, on the mind, and in fact thought that this was the best provision
other hand, have increased $1,100,239, for including them they could make for meeting the same at maturity.
The
the loss from 1882 is $3,752,675, while excluding them company built the branches, and kept the securities issued
the loss is $4,852,914.
It'is true that the 2,600 miles of on the same in its treasury, so that at the end of 1884 it held
branch roads earned less than half the 1,800 miles of nearly 66 millions par value of the same.
But though he
now
main road, but that follows from their being branches.
proposes that in the future the bonds on the new
roads
built might be placed in the United States Treasury,
An auxiliary road can never expect so dense a traffic as a
that certainly has not been the policy pursued in the past.
trunk line, over which all the feeders pour their business.
Nor can the value of a branch road be guaged simply by On the contrary, some of the bonds are pledged as security
its own earnings.
It may not pay its way, and yet be of for the collateral trust loans. Of course, with those
great benefit to the main system, from the traffic it gives SBeurities in its possession, ther Government would be
which the company
...
.
April 25,
1885,]
THE CHRONICLE.
497
as finally amended, the payments would be, it is estimated,
protected than without them, but they would
$1,800,000 for each and every year of the term. We do
certainly not offer the same certainty of payment as an
not see that there can beany objection to this. The amount
annual cash contribution.
Their value might be proble¬
is $612,890 more than was required in the late year, but
matical. And if the company could not raise the money to
is less than the average requirement for the four years
take them up, the Government would have to sell them, or
It is, moreover, $212,371 less than the annual
that being impossible, take possession of the properties preceding.
interest at six per cent which the Government pays yearly
they represented and thus go into the railroad business.
on the principal of the debt.
Mr. Adams thinks that the
The report asserts that the Government could not run the
Union Pacific system with any show of success, and there company could meet the $1,800,000 (though expressing
an
emphatic preference for his branch-system plan),
are certainly more reasons than
one why it is highly
objectionable to let the Government have anything to do qualifying, however, the admission with the remark that
there is doubt about this, as about everything else related
with managing and running railroads.
to the future.
But if the time should ever come when the
Mr. Adams speaks as if all the branches had been built
out of surplus earnings.
That certainly is not true. IT© company will earn less than its simple interest charge, why
we suppose there will be no help for it, and in that case
also seems to intimate that after the Thurman law the
we do not see that the position of Union Pacific would be
company changed its policy with reference to new exten¬
sions.
lie says that “ when the Thurman bill was passed, any different from that of any other embarrassed com¬
the Government practically took control of this matter out pany.
of the company’s hands.”
In point of fact, it is since then
THE ANGLO-RUSS1AN DIFFICULTY.
that the construction of branch roads has been prosecuted
The situation as between Russia and England has
with the greatest vigor.
Here is a table proving this
reached a degree of tension which almost forbids one to
that we find in the report.
indulge the hope that a peaceful solution may be arrived
Income for
Par Value of
Amount of
End of Year.
at.
On the part of Russia there is no visible sign that
Year.
Securities held.
Investment.
she is willing to back down.
$423,015
$16,569,400
On the part of Great
$10,913,760
1879
1,010,153
38.811,080
22,013,128
18S0
there
no limit to the war preparations ; but
Britain
is
1,332,678
46,756,130
34,309,888
1881
2,211,099
53,211,271
38,298,533
there is a manifest unwillingness on the part of Mr. Glad¬
1882
2,066,682
61,347,722
42,480,033
1883
stone and his colleagues to take the question out of the
1,730.946
65,932.922
46,133,101
1884
We thus see that as against an investment'of less than arena of diplomacy and to submit it to the arbitrament of
better
1879, the amount at the sword.
It is a critical moment not only for the two great
the end of 1884 was over 46 millions. Nor is it correct to
infer that all the branches were built by the Union Pacific nations most immediately concerned, but for the world.
itself.
Sonlfcfr'Of them were built by outside interests, and A war between Russia and England cannot be contem¬
Even if it should be confined to
then turned over to the Union Pacific, the venture usually plated but with horror.
the two great combatants themselves, it will involve
proving more profitable to the projectors than to the
company.
We might mention in 'illustration the case of destruction of property on a gigantic scale and
But there is
the Denver South Park & Pacific, which Mr. Adams now an enormous sacrifice of human life.
II millions in
branches at the end of
its operating expenses, not to speak
of fixed charges. Did not the Union Pacific have to pay
a very high price for the stock of that road—in the vicinity
of par?
And if in the future the company should have no
surplus earnings whatever to devote to the building of
more
branches, is it not likely that where the venture
seemed to warrant it capital would be found ready to run
the risk, as in the past. And this being so, is there any
ground for the fear which Mr. Adams expresses that the
road would have to stand still if the Government further
increased its annual requirement? The truth is, the con¬
struction of the Union Pacific’s branch system was largely
favored by the good times that prevailed, and with a
return of that condition it is not improbable that there
will be further progress in the same direction.
While the plan proposed however seems to us impractica¬
ble, for the reasons here stated, it is clear, as said, that some,
thing must be done, and be done soon, to meet the debt to
the Government.
At this juncture the 60-year bill lately
offered in the'United States Senate, though Mr. Adams
does not wTholly favor it, seems alike fair to the company^
and adequate to the requirements of the situation.
We
mean the bill as amended, so as to provide for equalized
payments through the whole term of years. In its original
form, it was objectionable, because it provided for pay¬
ments varying from $900,000
to $2,500,000. If the
amount was to increase gradually from the smaller to the
larger sum, there was the doubt that the company could
make so large a payment in the concluding period of the
term.
If, on the other hand, the amount was to diminish
from the larger to the smaller sum, the present burden
entailed by the payment would be unusually heavy.
But
reports does not earn
always the danger that a European contest, if it once
It might lead
break out, will take a wider range.
to collisions which would provoke resentment; at least it
opportunities which have been long and
eagerly coveted; and when once commenced it can hardly
be brought to an end until one or the other of the prin¬
cipal combatants is defeated. The defeat of Russia would
undoubtedly imply great changes, but not such changes as
the world would have any great reason to regret.
The
fall of Russia would be a deathblow to absolutism and the
one-man power in its most offensive form.
It would open
up a wider field for Germany ; but the expansion of Ger¬
many means the expansion of civilization.
The defeat of
Great Britain, on the other hand, by such a power as Rus¬
sia, would be an unqualified disaster. British prestige
broken, the
empire of India would no longer
authority of the Empress-Queen.
recognize the
That itself would be a revolution and a calamity.
India is beyond all question being trained to selfwould furnish
government; but her training has not jret been completed.
Divorced from British rule, she would lose all the advan¬
which her training has already secured for her; she
become the sport and prey of the rivalries and
jealousies of her native princes; she would lapse into chaos,
and become an easy victim to the nearest powerful
neighbor. ' Nor would the loss of India be the only result
tages
would
British defeat. The numerous colonies
Great Britain would begin to think and act for them¬
which would follow
of
selves; and the much-vaunted federation scheme would
It is the possibility of such
be abandoned forever.
compels one to regard the prospect of the
threatened war with horror, and which forbids u? to speak
results which
•
THE CHRONICLE.
498
rashly of the
who moves with caution on the verge
precipice.
As to the right and wrong in the present grave
emergency, there is a very general agreement. It certainly
of
man
dreadful
so
cannot
be
a
said
ptottctargs ©Drarajerctal 'gutfllsU Hews
BATES OF EXCHANGE AT LONDON AND ON
AT LATEST DATES.
that the British Government has in any
"
submitted to
an
unusual amount of
shown his
unwillingness to resort to extremes by making
on Russia most reasonable
demands, and by giving the
Government of the Czar an easy opportunity of
backing
out of
what
he considers to be
a
false and
untenable
position. He has spoken firmly, it is true ; and he is
making most gigantic preparations for war ; but it is
evident from all he says and does that he looks upon war
as a
necessity, not as a choice. Russia, on the other hand*
has been most belligerent, aggressive and unreasonable'
Most people, we think, are disposed to believe Sir Peter
Lumsden rather than General Komaroff ;
ments of Sir Peter are to be received,
and if the state'
the Russians are
wholly and entirely to blame for the fight on the Murghab
River.
But Russia’s conduct on this occasion, although a
little bolder and more openly persistent than usual, is
in perfect keeping with her conduct from the time she
began her forward movement from the eastern shores of
the Caspian.. She was not, she said, bent on conquest;
but she moved on.
When Khiva opened its gates to her
troops it was only a question of time when she would
move on Merv ; and
scarcely was Merv occupied when it
was known Penjdeh was in
danger.
It
would
Government
be
not
difficult
to
show
that, the
British
"
■’
—
1
-
EXCHANGE AT LONDON-Apr. 10.
Mr. Gladstone
way provoked hostilities.
his characteristic caution in dealing with
has revealed all
Russia. He has
provocation. He has
fVOL. XL,
On—
Time.
.
—
■
Date.
®12-2is
®12-4
©20-72
®2073
©20-73
*©12-70
*©12-70
©25-65
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
St. Petersb’g
2178®22
Apr.
Paris
Short. 25,371a©25*421fl Apr.
Paris
3 mos. 25*571n © 25*62 *a Apr.
Genoa
25-82ia®25-37i2 Apr.
it
Madrid
45iE»lft^461 ift
Apr.
tt
Cadiz..*
Apr.
it
Lisbon
515s/d)ul\
Apr.
it
a
it
Alexandria.
Constant’ple
Bombay
....
Apr.
it
Calcutta
New York... 60
Hong Kong.
Shanghai....]
Apr.
Apr.
Apr.
Apr.
dem’nd
it
days
•
Apr.
....
Apr.
•
«
•
I From
our own
f»*
—
EXCHANGE ON LONDON.
Latest
Rate.
Amsterdam. Sight. 12 1 %
Amsterdam.5 3 mos. 123^
a
20-68
Hamburg..
it
Berlin
2069
tt
Frankfort...
20-69
a
Vienna
12-65
tt
Trieste
12-65
tt
25-60
Antwerp.
1
LONDON
9
9
9
9
9
9
9
9
9
10
10
9
9
9
9
9
9
Time.
Rate.
Short.
12 09
„
3
^
0
mos.
it
-
Short.
si
20-27
20-31
20-47
12-54
it
tt
3
mos.
25-40 '
23 buyers.
Checks
25-38
3
25-45
47-20
mos
it
it
tt
it
a
110-06
9 tel. tsfs
Is.
it
9
10 60 day c
9 4 mos.
ft
9
6^532d
4-84%
3s. 63sd.
4s. 103ad.
*
correspondent. J
London, April 11, 1885.
We have this week
passed through a very sharp spasm of
excitement, and at one time a declaration of war seemed
hourly imminent. Happily for those who do not regard war
as a pastime to be
lightly indulged in, the prospect at the time
of writing is certainly more peaceful, but for all that it is
unquestionably the wish of the nation that the honor of the
country should be upheld at all hazards. The cause of the
excitement, as you have heard by telegraph, was the attack
of the Russians on the Afghans at Penjdeh.
We have, of
course, the usual choice of statements as to which side was
the aggressor, but the attack was made, and meantime explana¬
tions
are
awaited.
guilty of almost criminal negligence in
In the manufacturing districts the news wasf^fegarded with
allowing Russia to advance from Khiva to Merv without dismay, as a further limitation of the already restricted opera,
taking some decided action. O’Donovan had made it tions was threatened; but the main excitement was certainly
abundantly plain that the Russian occupation of Merv on the Stock Exchange. To find a parallel for it we should
was
already decided upon. Merv was but a stepping-stone have to go back to the commencement of the Franco-German
war.
The general depression then was certainly more acute
to Herat; and Penjdeh was a needed
halting place in the than it has been
during the past day or two, partly because
onward march.
This question of negligence, however, it
business then was brisker than it has been with us of late,
is for the British people themselves, and not for
us, to and partly also owing to the fact that there have been more
decide.
But
Government
was
no
fault
the
can
be
found with the
British
of
vigilance since Merv was
occupied. The designs of Russia were so conspicuously
revealed to all the world by that occupation that further
inaction was impossible.
In February of last year nego¬
tiations were opened with a view to
settling the boundary
line between Russia and Afghanistan. It was
finally agreed
that two Commissioners should be’’appointed—one
by
Russia and one by G real Britain—to survey the
ground and
to come to some agreement on the
subject. General Zele
noy was appointed by Russia and Sir Peter Lumsden was
appointed by Great Britain. Sir Peter set out in Septem
on
score
ber and met the Russian Commissioner at Tiflis.
memorable point in the conversation was the
The
one
“
bears” than
“bulls” about amongst English speculators.
depreciation in values naturally represents a heavy losss
but it would have been much greater had recent transaction
been anything like of an average character. The settlement
which begins on Monday will be awaited with some anxiety,
as heavy differences will have to be met; but whilst losses here
are no doubt large, they promise to be
considerably exceeded
by those of the Continental Bourses. Both at Paris and Berlin
the disposition has of late been to take an optimist view of the
situation, and from the latter city has been derived the support
which has. hitherto kept up the value of Russian securities.
The
The losses there
been
must
have been immense.
Pari3 has not
severely hurt, speculators there being disposed to
and^back Egyptians. They have, however,
quite enough to pay and, so far as can be ascertained Conti¬
nental speculators will have to transmit some rather heavy
balances to this country in liquidation of differences. It is
reported that members of the London Stock Exchange have
so
eschew Russians
attempt made
by General Zelenoy to convince Sir Peter that Penjdeh was
notin Afghanistan.
Zelenoy had to go to St. Petersburg made considerable sums of money.
for instructions, and Sir Teter Lumsden has not seen him
Whatever expectations may have been entertained
respect¬
since.
Sir Peter’s investigations on the
spot established ing the chances of a reduction in the Bank rate, they were
the fact that Penjdeh always had belonged to
Afghanistan; promptly dispelled by the fresh political complications, and
the rate is therefore retained at 3} £ per cent. A reduction of
but Russia lias summarilly settled the
question by con¬
per cent is reported from Berlin.
There is no new feature
quest and occupation. Such in brief is the history of the in the market here. A
quiet business is doing. Loans are
present difficulty.
If it should come to war Great Britain has the satisfac¬
tion of knowing that she has not provoked it.
The rights
of her ally, the Ameer, have been
ruthlessly trampled
her own rights are openly thereatened; blood has
been shed; and reparation has been refused.
If Russia
persists in her refusal to back down, Great Britain must
fight or take a second place among the nations. Mr.
Gladstone’s love for peace will not be allowed to
compro¬
mise the honor of the empire.
upon;
little wanted,
and the range is 1 yz to 2 per
cent.
firmer, but they are still about %
per cent below the official quotation.
The Bank return shows
the changes usual at this season.
The distribution of the
dividends has reduced the total of public deposits by £2,707,421. The stock of bullion is £368,286 less, in spite of the fact
that £129,000 was sent in from abroad, and the reserve has
diminished £305,561; but the proportion is heavier than last
week, namely 47*03 against 44*56 per cent.
The following are the present prices for money.
very
Discount rates
are a
shade
April 25,
499
THE CHRONICLE.
1885.]
EXPORTS TO UNITED STATES.
Interest allowed
Open market rates.
Cotton
Trade Bills.
Bank Bills.
Lonlon
Disc't Wse
Joint
Four
Three
7 to 14
At
Stock
Six
Four
Three
Six
Months Months Months Months Months Months Banks. CaU. Days.
0 4
Mar.
“
13
“
20
4
SJ6
“
27 SH
Apr. 8 3>6
10] 3^
3>6© 3*6©3$6
2<*©3
3>6@ w® 2$6© -
3M@ - 33*0
3^6® - 3J43
23*33 23*3
3
©
3
-
©
-
-
2*602H 2%3
-
-
3^33M
3.43354
33*334
33*3334
3 ©
-j2%33 2433
3J*nom 3**nom 334nom
-
2m
2m
—]33*@
sm
334033* 8563334
3}*nom 3J*aom
33633US344336
-
3
3
3
3
24
24
24
24
24
24
24
24
34-334
334-334
2H-2H
2X-2H
2H-2H
234-234
following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols,
the price of middling upland cotton, wheat, and the Bankers’
Clearing House return, compared with the three previous
The
years:
24.S8J.775
8,458,121
25.753,429
Bank-post bills
Public deposits
Other deposits
26,125,070
6,162.43 8
25.709,030
25,751,109
7.601.840
12,436.202
23,069,708
7,183,240
23,707,868
14,317.230
22,902,132
15,086,618
11,497,838
22.049,270
13,045,215
25,015,648 21,498,938
23.420,315
25,747,293
Governm’t securities. 14,164.559
21.722,953
Other securities
Res’ve of notes & coin 16,160,845
Coin and bullion in
both departments.. 25,294,620
Proport’n of
£
£
£
£
1882.
1883.
1884.
1885.
Circulation excluding
reserve
24,448.806
13.332.907
423s
5%d.
37
3 p.c.
102 sad.
42s. Od.
5d.
978d.
9%d.
Ci8i.
10%d.
Clearing-House ret’n. 79,155,000 131,501,000 107,018,000
84,280,000
to liabilities
Bank rate
Consols
Eng. wheat,
45%
2*2 P- o.
10213 d.
4703
3^2 p. e.
95 V.
32s. 61.
price
Mia. Upland cotton..
av.
37s. 7d.
5%d.
9%d.
No. 40 mulo twist....
market rates at the
The Bank rate of discount and open
chief Continental cities
have been
as
and for the previous three weeks
now
follows:
April
April 9.
Rates of
Interest at
3 p. c.
101 %d
45s. 5d
2.
March 26.
March 19.
■
Bank
Open
Bank
Open
Bank
Open
Bank
Open
Rate.
Market
Rate.
Market
Rate.
Market
Rate.
Market
3
3
2%
5
34
34
334
256
256
44
34
4
234
256
44
34
4
35s
4
234
34
336
334
256
256
44
34
St. Petersburg..
6
0
0
6
0
0
0
0
Copenhagen
4
4
4
4
4
4
4
4
Paris
3
234
3
Berlin
4
5
2%
334
5
336
5
34
5
Hamburg
44
44
4.4
5
356
5
Amsterdam
3
3
3
3
Brussels
3
3
256
3
Madrid
44
44
44
44
Frankfort
Vienna
.
Messrs.
5
5
3
3
44
4
Pixley & Abell report as follows on the state of the
bullion market
:
Gold—The Bank of England has purchased since our last £175,000,
there being no demand for export, with the exception of some small
orders for India.
£9,000 in sovereigns weio taken for River Plate.
Gold is still coming from Paris, though the exchanges are now weaker.
The Tamar brought £30,000 from the Brazils and the Liguria brought
£5,000 from Australia. The Miskelyn took £20,000 and the La Plata
£9,000 to the River Plate, and the Sutlej £20.000 to Bombay.
Silver declined with the Indian exchanges from 49^l., our last quo¬
tation, to 4S7ed., the rate at which the arrival by the Chile mail was
sold to-daj\ The Patagonia brought £55.000 from Chile while from
New York there came £60,000. The P. & O. steamers take £104,000 to
India.
Mexican dollars, with small arrivals, have remained steady at 48d.,
our
previous quotation.
The Tasmania takes £15,000 to the Straits
4,958,709
piece goods—Mch—yds.
3 months
Linen piece
...
goods—Mch
3
18.082,800
6.555,600
6,817,200
are
reported
as
follows:
4,782.700
17,472,000
5,369,500
22,388,500
298,700
1,498,500
2,102,900
9,670,680
25,276,200
296,600
1,793,700
2,994,500
11,810,400
Although business has still remained far from active, the
length been galvanized into something
wheat trade has at
approaching an exhibition of animation and firmness. The
growing complications on the Afghan question with Russia
had become so acute on Thursday that the wheat market at
once assumed a much stronger tone, and at Mark Lane the
following day values were quoted 3s. to 4s. per quarter higher
than on Wednesday.
The sudden jump was solely due to the
fear that a war could not now be avoided after the,assault cn
the Afghan troops by the Russian forces. Possibly if the
difficulty be smoothed over a portion of the advance may be
lost; but apart from the political aspect of the question, the
trade should, from a statistical point of view, show greater
firmness. The quarterly statement of stocks just issued
indicates that the supplies in London are steadily diminishing,
and no doubt the same features will be reproduced at all the
other chief ports.
At the beginning of the year the stock of
wheat in London was 374,926 quarters. It is now 242,062
quarters—a deficiency of 132,900 quarters. A year ago the
stock was 641,393 quarters, or about 400,000 quarters more
than at the present time. Since the commenc.ment of the
year the stock of flour—which is now 220,994 sacks—has
decreased about 79,000 sacks, and compared with this time
last year there is a deficiency of 35,000 sacks.
Against this
loss we have, of course, to place the larger quantities afloat to
us now than was the case a year ago,
and also have to
remember that there is a larger American visible supply to
draw upon.
On the other hand, however, the fact must not
be lost sight of that the average price of English wheat for
the season is nearly 7s. per quarter lower than it was last
season.
This alone should fairly cover the effect of the
increased quantities afloat
and the heavier American
supplies. It seems, therefore, that the natural tendency of
values just now should be to harden, and if our dispute with
Russia should assume yet more serious proportions, a further
sharp rise could hardly be prevented.
The following statistics show the stocks of wheat and flour
in London on April 1st of the current and past years:
1884.
Waterside
Granaries.
638,301
■1835.—
Wheat
Flour..'
Flour
Waterside
It ail-
Granaries.
1 vans.
qrs.
23^,811
3,251
bids.
sacks
1,484
220,994
94,693
1,797
v
Railways.
3,092
i
255,814
76,988
following return shows the extent of the imports of
produce into the United Kingdom during the first
thirty-oue weeks of the season, the sales and average prices of
home-grown produce for the same period, and other items,
compared with last season:
The
cereal
IMPORTS.
1883-1.
1881-5.
quotations for bullion
1885.
4,695,700
19,913,209
27,094.800
309,600
2,097,300
2,621,500
9,247,700
mos
Woolen fabrics—Meh
3 months
Worsted fabrics-Moh
3 months
and £ 19,000 to China.
The
1884.
1883.
for deposits by
32,661,596
10,331,777 10,852,953
7,274,653
6,416,207
1,066,861
1,169,943
1,578,168
2,080,865
13,841,706 16,156,719
9,251,383
9,821,264
cwt. 28,136,807
Wheat
Barley
1882-3.
1881-2.
37,956,956
11,016,077
8,683,374
1,314.164
1,567,837
10,993,647
36,574,490
8,689,879
5,910,000
1,059,525
1,022,679
12,945,840
14,476,347
5,311,210
d.
d.
48J6
49
Oats
Peas
Beans
Indian oorn
Flour
Span, doubloons.oz.
ing 5 grs. gold..oz.
Cake silver
oz.
4934
5234
4936
523*
Supplies available for consumption (exclusive of stocks on
September 1) in thirty-one weeks:
S. Am. doubloons, oz.
Mexican dols...oz.
48
48
Price of Gold.
Apr. 2.
9.
Apr.
d.
8.
Bar gold, fine., oz.
Bar gold, contain’g.
77
20 dwts. silver.oz.
77
d.
s.
77
9
Price of Silver.
9
Bar silver, fine..oz.
Bar silver,contain¬
77
104
The movements in the
104
precious metals have been
To arul from all Countries.
GOLD.
1883. *
1
£
Imports in March..
Do
3 months....
Exports in March..
Do 3 months....
Apr. 2.
Apr. 9
|
as
follows:
To and from United States.
1S84.
1885.
1883.
1884.
1885.
£
£
£
£
£
1,922,548
1,924,900
1,458
8,208
5,400
459,785
739
35,800
212,860
729,753
343.400 2,843,2TS
J. 109,558' 3.031,378
834,913’
308,639
1,247,699
2,042,155
439,390
459,785
1,298,820j 2,890,404
1,255,002
‘
’
192
1883-4.
1884-5.
1882-3.
Bales of
Total
60,409,631 69,4.35,638 75,464,003
The extent of the sales of home-grown wheat,
Do
3 months....
Exports in Match..
Do
Smooths
—
0S3,428
SO3,300
2,525.349! 2,367,883
S87.634
280,421
2,401,715
742,404
216,539
713,402
959,374
2,409,931
1,012,550
2.508.590
44.500
8.002
497,919
2,229,5351
The Board of Trade returns
65,586,700
barley and
leading markets of England and Wales during the
first thirty-one weeks of the season, together with the aver¬
age prices realized, compared with the previous season, are
shown in the following statement:
oats in the
SILVER.
Imports in March..
1881-2.
32,661,596 37,956,956 36,574,490
9.254.883 10,476,317
5,341,210
home-grown..28,451,560 27,519,159 27,030,700 23,671,000
Imports of wheat, cwt.28,136,807
9,821,264
Imports of flour
1881-85.
Sales.
Av'ge
Price
1833-84.
Sales.
Av'ge
Price
1882-83.
Sales.
Av'ge
Price
d.
d.
8.
just issued for March and the three
8.
s.
d.
1,933,551 32 3 1,913,547 39 2 1,559,468 41 3
are'again distinctly disappointing, a further contrac¬ Wheat, qrs
2,898,702 31 5 2,953,206 32 6 1,864,565 33 10
Barley
218,363 21 0
tion of business being reported, and in the quarter’s export oper¬ Oats
276,246 19 b
230,999 19 9
ations there has been a loss of fully £5,000,000 sterling money
Converting quarters of wheat into cwts., the total for the
value in the shipments of British and Irish produce and man¬ whole kingdom are estimated as follows:
1884-5.
1881-2.
1883-4.
1882-3.
ufactures.
The imports for the three months have declined
Wheat
cwt. 28,451,560 27,519,159 27,138,600 23,756,500
quite £9,000,000, but then in the case of both imports and ex¬
The following are the quantities of wheat, flour and Indian
ports allowance must be made for the much lower range of val¬ corn on passage to the United Kingdom:
ues now current than was the case a year ago.
At present.
The loss in the
Last week.
1884.
Last year.
Wheat
qrs. 2,830.000
2,712,000
1,853,000
2,192,000
exports for the month is (£1,922,503 and in the imports Flour,equal in qrs 242,000
252,000
302,000
248,000
Maize
qrs.
301,000
261,000
194,500
311,000
£2,353,893.
months
THE CHRONICLE.
500
English
Market
Report*—Per Cable.
daily closing quotations for securities, &c., at London,
and for breadstuffs and provisions at Liverpool, are reported
by cable as follows for the week ending April 24:
The
49V
Silver, per oz
d. 49516
Consols for money
961316 9t;316
9613J6 96»,„
Consols for account
Fr’ch rentes (in Paris) fr 78'77 V 77-97 V
115 V
115
U. 8. 4Vs of 1891
124%
124%
U. 8. 4s of 1907
3738
37%
Canadian Pacific
72%
Chic. Mil. & St. Paul.... 7438
12V
Erie, common stock.... 12 V
129
129%
Illinois Central
55 V
55 V
Pennsylvania
8
8
Philadelphia* Heading
9234
New York Central
92%
115
95
95
77-90
115
124%
37%
124%
37%
73
^
77-70
115
77-75
124%
124 34
37%
72 V
37%
72%
12V
129%
55%
72%
55%
12%
129*4
50%
s%
93%
92%
12%
129%
49“ifi
95%6
95%6
497, *
95«,e
953,8
49%
49%
95%
95%
78-05
Fri.
Thurs.
Wed.
Tuvs.
Men.
Sat.
London.
114%
12
129%
50
8
8
Bid.
SECL RITIES.
Ask.
Buff.N.Y.&P.—(Cont’d)—
BOSTON.
Atch. & Topeka—1st, 7s. 122V
121
!
Land grant., 7s
Boston & Maine—7s
Boston & Albany—7s —
6s
Boston & Lowell—7s
6s
Boston & Providence—7s!
Burl. & Mo.—Ld. gr., 7s. * 117 Vs
Nebraska, 6s.. - Exempt 117 ,118
Nebraska, 6s.Non-ex’pt 106 V
89 |
Nebraska, 4s
1 st, Tr. 6s, 1922
Buff.Pitts.* W.—Gen.,6s
Cam. & Amboy—6s, c.,’89
Hort., 6s, 1889
Cam. &
Cons., 6
-
Passmnpsic—7s.
f
Connect’g 6s, cp., 1900-04
Cor. Co wan* Ant.,deb. 6 s,
Delaware—6s,rg.A ep.,V.
j
Del. & Bound Br — 1st, 7s
East Penn.—1 st, 7s, 1888
Easton&Amb’y—5s, 1920
El.&Wmsp’t-l 8t,6s, 1910
5s, perpetual
Week.—The imports of last
Imports and Exports for the
with those of the preceding week, show
a
decrease in both dry goods and general merchandise.
The total imports were $7,502,100, against $9,601,817 the pre¬
ceding week and $8,046,546 two weeks previous. The exports
for the weekended April 21 amounted to$6,109,601, against
$5,783,851 last week and $6,450,710 two weeks previous. The
following are the imports at New York for the week ending
(for dry goods) April 16 and for the week ending (for general
merchandise) April 17; also totals since the beginning of the
week, compared
first week in January:
*2,560,161
Dry goods
GanTmer’dise..
$1,433,115
7,058,887
8,715,716
$1,849,838
6,635,203
$1,420,408
6.075,692
$11,275,877
$8,497,002
$8,485,041
$7,502,100
Dry goods
Gen’Imer’dise..
$48,362,301
112,223,818
$45,083,542
160,484,775
$42,611,446
98,309,988
$34,705,120
In
our
85,812,431
$140,921,434 $120,517,551
report of the dry goods trade will be found the im¬
ports of dry goods for one week later.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending April 21, 1885, and from January 1 to date:
EXPORTS FROM NEW YORK FOR THE
1882.
For the week...
Prev.
reported..
$6,186,773
106,100,917
$6,006,121
94,184,370
WEEK.
1884.
1883.
Total 16 weeks. $100,190,491 $112,287,690
$5,157,159
85,321,193
$6,109,604
96,658,425
$90,478,352 $102,768,029
table shows the exports and imports of specie
port of New York for the week ending April 18. and
since January 1, 1885, and for the corresponding periods in
The following
1884 and 1883:
EXPORTS AND IMPOSTS OF SPECIE AT NEW
YORK.
$14,800
9,562
Great Britain
France
Germany
West Indies
4,268,026
127,194
Tetal 1885
Total 1884
Total 1883
Week.
Since. Jan. 1.
137,875
1,412,991
2,906,555
222,817
15,514
119,046
2,971
10,770
20,500
77,400
$127,191
*4.507,663
5,420,137
31,000
27,108,884
121,250
---•-!
Val.—7s..
Rutland—6s, 1st
119
$102 V
7%
jPennsylv.—Gen., 6s, reg.
110
180
179
«
177
iioi"
1014
49%
49 V
118V
14*4
14 V
80
92
130
69
70
68
66
36
I
$15
Louisiana* Mo. River..
Preferred
Maine Central
20
59
21
20
Outon.
85 V
Metropolitan
Mexican Central
Nashua & Lowell
14
78
19V
19 V
N. Y. & New England ...
Northern of N. Hampsh.
110
165
163
158
Norwich* Worcester...
Old Colony
id
Ogdeusb. * L. Champlain
Portland Saco & For ism.
19 V
Rutland—Preferred
Summit Branch
Worcester * Nashua
Wisconsin Central
Preferred
13
82 V
12 V
$31,884
1,308.907
$4,679,894
9,325
4,714,350
1,346,946
Gap
1*4
.
Franoe
German ;
West Indies
Mexico
.
$3,982,958
J 45,396
$
$24,332
76
58,677
115,394
4,2351
Bonth America
All other countries.
80,000
402,524!
*379,750
$4,709,184!j
21,605
102,816
57.
1st preferred
2d preferred
52
Delaware* Bound Brook
12614
East Pennsylvania
Elmira & Williamsport..
40"
3,454
91.577
157.920
167.920
4,608
Of the
above
American gold
121,435
4,688,58.
155.970
5,188,611|j
$119,636
$457,702
56,312
1,427,449
49,706
1,740,768
imports for the week in 1885, $24,744 were
Of the
American gold coin
coin and $19,996 American silver coin.
exports during the same time,
$5,694
were
and $136,000 American silver coin.
—Attention is called to the card of Messrs. Thompson &
Richard in to-day’s Chronicle. This j’oung and active firm
has members at both the New York Stock and Produce Ex¬
changes, and they buy and sell stocks, bonds, grain, provisions
and petroleum for cash or on commission and margin; they
also have direct communication with the Chicago Board of
Trade.
Mining Company has reached its 106th
dividend, including that for March, which is payable ($75,000)
at the company’s office, San Francisco, or at the transfer
—The Ontario Silver
of Lounbery & Co., 15 Broad Street, NewT York.
'—Attention is called to the annual meeting of the share¬
holders of the Canadian Pacific Railway at Montreal on Mav
agency
13th.
126
110
1C8
115*2
100
82 V
126
135V
125V
125
124
128
105
$95
03
100^4
100 v
Scrip, 1882
Conv., 7s, R. C., 1893..t
Conv. 7s, cp.off, Jan.,’85
Phil.Wil.* Balt.—4s,tr.ct
Pitts. Ciu. ASt.L.—7s—
Pitts. Titus. & B.—17s,cp.
ShamokinV. & Potts.—7s
Shen. Val.—1st, 7s,
Geu’l 6s, 1921
Income, 6s, 1923^.
Nesquehoning Valley....
Norfolk * West’n—Com.
Cons. 6s,
1909
W.Jers6y*Atl.—lst,6s,C.
Penn.—6s, coup.
6s, P. B., 1896
Gen., 7s, coup.. 1901
CANAL BONDS.
Ches. A Del.—1st, 6s,1886
Lehigh Nav.—6s,reg.,’84.
Mort. RR., reg., 1897 ..
Cons., 7s, reg., 1911 —
Pennsylvania
Pennsylvania
Philadelphia* Erie
Ger. & Norristown
Newtown & N.Y..
j
<
Reading
Wilm. & Balt
Pittsb.Cin.* St. L.-Com.
United N. J. Companies..
Westchester—Cons. pref.
West Jersey
West Jersey & Atlantic..
CANAL STOCKS.
Lehigh Navigation
pref
pref
100
2d
.
8 *4
RAILROAD BONDS.
Allegli. Val.—7 3-10s, ’96
7s, E. ext., 1910
Inc. 7s, end., coup., ’94
Ashtab. & Pittsb.—1st,6s
1 st, 6s, reg., 1908
Belvid’e Del.—1st,6s, 1902!
2d, 6s, 1885
3d. 6s, 1837
Bell’s Gap—1st, 7s, 1893.
1st, 6s, 1905...
Consol., 6s, 1913
Buff. N.Y.* Phil.—1st,6s
2d, 7s, 1908
Con*. 6s, 1921
11934.
13 V
120
101
104
110
100
96
75%
"75 V
"38"
81
30
19
41
24
97%
120
30
25
98
121
35
130
30%
102
80
85
113
106
106
108
ibS
118
80
mrnmmmm
•••••■
125
83
107
109
83%
67
180
13
50
60
Maryland
50
RAILROAD BONDS.
Atlanta & Chari.—1st—
Cin. Wash. &
42ia
95
Pref
Western
Balt.—Ists.
2ds
3da
Columbia* Greenv.—Ists
2ds
Pennsylvania
107"
120
115
122
122
Central Ohio—Com
Balt.AOhio—6s„’85A.&0
Ohio.—6s, lst,M.*S.
Chari. Col. & Aug.—1st..
45
106
112 34
68
122
50
Ceu.
195
|.
6
49 V
Parkersburg Br
Inc
'6
.
|.
BALTIMORE.
1st
61
64
55
20
124
135
93
112
Syr.Gen.* Corn.—1st, 7s.
Tex. A Pac.—1st, 6s,1905 iof
73
73
Consol., 6s, 1905
35
Union & Titusv.—1st, 7s.
United N. J.—Cons.6s,’94
Cons. 6s, gold, 1901....
Cons. 6s, gold, 1908
101
Gen., 4s, told, 1923
Warren & F.—1st, 7s, ’96 102V
West Chester—Cons. 7s.. 123
W. Jersey—1st, 6s, cp.,’96 115
123
1st, 7s, 1899
Atlanta * Charlotte
Baltimore & Ohio
60
63 V
54 %
19
108 V
121V
107 V
1909
Income, 5s, 1914
Sunbury * Erio—1st, 7s.
Sunb. Haz. & W.—1st, 6s
2d, 6s, 1938
2d
Preferred.
Northern Central
128
128
122
18931
RAILR’D STOCKS. Par
56
60
50
Schuylkill
Schuylkill Nav., pref...
Debenture coup.,
61
Mineliill & Sell. Haven...
*
2d, 7s, coup., 1893
Cons., 7s, reg., 1911 ....
Cons., 78, coup., 1911..
Cons., 6s, g., 1.R.C.1911
Imp., 6s, g., coup., 1897
Gen., 6s, g., coup., 1908
Gen., 7s, coup., 1908
Income, 7s, coup., 1896
Cons. 5s, 1st ser.,c., 1922
Cons. 6s, 2d ser.,c., 1933
Conv. AdJ. Scrip, ’85-88
8*3 Schuylk. Nav.—1st,6s,rg.
2d, 6s, reg., 1907
Preferred.
Pliila.
Phila.
Pliila.
Phila.
Perkiomen—1 st, 6s,cp.’87
Phil.&Erie—lst,7s,cp.’88
Cons., 6s, 1920
Cons., 5s, 1920
Penusylv.—6s, cp., 1910..
Lehigh Valley—*
North
Total 1885
Total 1884.....
Total 1883
50
56
Preferred
Little
C—7 s, 1896.
Western
Preferred
$293,750
2V
3V
20
Huntingd’n & Broad Top
Silver.
Great Britain
13
Allegheny Valley
Ashtabula* Pittsburg..
Buffalo NY. * Phil
Preferred
Camden & Atlantic
Preferred
Catawisaa
i
Phila, Newt. & N.Y.—1st
Phil.* R.—1st,6s, 1910..
76
Eastern, Mass
Fitchburg
Flint & Fere Marquotte.
Preferred
Fort Scott* Gulf
Preferred
Iowa Falls & Sioux City.
Kan. C. Clin. & Spriugf’d
Kan. C. Springf. & Mem.
Little Rock & Ft. Smith.
!
!
Gen., 6s, cp., 1910
Cons., 6s, reg., 1905
Cons., 6s, coup., 1905...
Cons., 5s, reg., 1919
7,1906
40
10 >«
$166 78
Lansing* No., pref.
I
Pa. & N. Y.
5614
Sandusky & Cleve.
Bell’s
Debenture 6s, reg
Norfolk & West.—Gen.,6s
N. R. Div., 1st, 6s. 1932
N. Y. Phil.* Nor.—1st, 6s
Inc., 6s, 1933
City* Chic.—1st, 6s..
|Oil Creek—1st, Gs, coup..
180
109
Concord
Connecticut River
Conn. & Passumpsic
Connotton Valley
Det.
117
Oil
*71
Chic. & West Michigan.. 2
Cinn.
96 *2 f
96
Sonora—7 s
STOCKS.
Atchison & Topeka
Atlantic & Pacific
Boston* Albany
Boston * Lowell
Boston & Maine
Preferred
$
$
644
Mexico
South America
All other countries.
Gen., 7s, 1903
!
RAILROAD STOCKS, t
Gold.
Since Jan. 1.
Income
Old Colony—7s
6s
Pneblo A Ark.
PHILADELPHIA.
Imports.
Exports.
N. O. Pac.—1st, 6s, 1920.
No. Penn.- 2d, 7s, cp. ’96.
Ogdensb.A L.Ch.— Con.6s;
Marq. Hought’n &
Preferred
1885.
at the
Week.
119
Pac.—7s:
Cheshire,preferred
Total
Since Jan. 1.
Total 16 weeks. $160,586,149 $145,508,317
...!
7s
N. Mexico* So.
Cambridge
1885.
1884.
1883.
1882.
Leh.V.—lst,6s,C.*R.,’98
2d, 7s, reg., 1910
113%!114V
Cons. 6s, C.& R., 1923..
1
England—6s..j
Debenture, 10s
Cons. 5s, 1895
ItliacaAA th.—1st, gld.,7s
92 V 93
90
105
!l05%
Boston* Providence....
Boston Revere B. & Lynn
FOREIGN IMPORTS AT NEW YORK.
For Week.
16%; 16%
N. Y. & N.
124
Harrish’g—1st, 6s, 1883.. 102*2
H.&B.T.-lst, 7s, g., 1890 111
Mem.—0s!
|
108
p. c
Cam. A Burl. Co.—6s,’97.
Catawissa—1st, 7s, con. c.
Chat. M., 10s, 1888
New 7s, reg. & coup—
K. City Lawr. & So,—6s..; 109 |110
K. City St. Jo. & C. B.—7s 120
Little R. & Ft. S.—7s, 1st 109
109
K. City Su’d &
57 ve
Mexican Central—7s
j 57 %
Scrip
107*2
111
Ath—1st,7s,g.,’93
2d, 6s, 1904
j'
i $16V 18
Valley—6s
East’rn, Mass.—6s, new..] 120 >121
118%'
Fort Scott & Gulf—7s...
©tmxmcvcia.1 anti miscellaneous Incurs
Ask
Bid.
SECURITIES.
Connotton
$
&
Quotations in Boston, Philadelphia and Baltimore.
Conn. &
92%
91%
[VOL. XL,
No.Central—6s, ’85, J.&J.
6s, 1900, A. AO........
6s, gold. 1900, J.&J....
5s, Series A
Series B
Pittsb.&Con’ells.—7sJ*J
Union RR.—1st, gua.J&J
Canton endorsed
Virginia & Tenu.—5s
os,
8s
W.Md.—6a, 1st, g., J.&J.
2d, guar., J.&J
2d, guar. byW.Co.,J.*J.
8s, 3d, guar., J. & J
Wilm. C. & Aig.—6s
Wil. & Wemon—Gold, 7s
14 V
111V
111
86
85
101
v
101
107
V
106 V
107
90
101
56
26
96%
70
102
58
20
96V
72
102%
117V
117
106
103V 104V
122V
122
115
100V 101
120
105
113
112
122
THE CHRONICLE
25, 1885. J
April
Coins.—The
3£he fSaukers' (Sa*ette.
The following dividends have
Name of
Company.
X X Reichmarks.
X Guilders
Books Closed,
Payable.
(Bays inclusive.)
-May
'May
May
15
1
10
4
[May
1
1
2
May
$1
Manchester & Lawrence
$5
$i
National City
Union National
Miscellaneous.
Pullman Palace Car (quar)
YORK,
NEW
| May
April 25 to April 30
April 22 to April 30
15
FRIDAY, APRIL 21,
1SS5-5 P. M.
The Money Market and Financial Situation.—The finan¬
cial markets have generally been dull this week, although it is
to be observed that the genial spring weather, really the first
of the year, will do much to stimulate commercial business
throughout the country.
In railroad allairs there
<-
have been
few
points of interest,
among which the settlement of the heavy suits against the Mis¬
souri Pacific may be mentioned as one of the most important.
The result of these suits will encourage stockholders to appeal
to the Courts when they feel that they have clearly been injured
by unjust proceedings; and not only in these cases, but in
many others, the decisions have been of such tenor as to show
that the Courts will give stock or bond holders their equitable
rights, if they only fight for them with vigor and determination.
On the other hand, nothing is more condemned by respectable
bankers and stockbrokers than sham suits trumped up for purely
speculative purposes.
There are a number of railroad matters yet unadjusted which
are being settled up from time to time, and as each one of these
gets out of the way the atmosphere becomes clearer. The Mis¬
a
—
99% d
—
92
Mexican dollars..
—
Do uncommere'l.
—
^
84
..
considerable activity during the past week.
The closing prices at the N. Y. Board have
!
souri Pacific settlement is referred to above; the Ohio Central
road was sold in foreclosure last week; the Union Pacific debt
to the Government has just been paid; the Pacific railroads and
Pacific Mail will probably come to an agreement before June
1; the Philadelphia & Reading imbroglio is approaching a
climax which will at least put an end to the suspense; and
the West Shore reorganization movement is a step in the right
direction, for even the agitation is better than the previous
stagnation.
Rates for call loans during the week on stock and bond
collaterals have ranged at 1@1| per cent, and to-day at the same
4*ss, 1891
4*as,1891....
Interest
Periods.
par.
94
—
84413 — 85
83*4^ — —
Peruvian8olea.... — 77*4® — 78
English silver
4 78 3 4 84
.uex. Doubloons.. 15 55
®15 65
F.nesilver bars
1 OS
3 1 08*0 U. 8. trade dollars
Fine gold bars....
par 3 *4 prein. U. 8. silver dollars
Dimes & *0 dimes. — 993*3
par
2 to
May
8ilver 4*8 and qjs.
Five francs
—
3
been
—
99% 3
United States Bonds.—The market for government
has been quite strong and advancing, and has at times
April 24 to
April 19 to
ljApril IS to
Banks.
4 74
3 96
®$4 83
U> 3 90
® 4 78
® 4 00
Span'll Doubloons. 15 55 a>15 75
When
Railroads.
Eoston & Maine
Boston & Providence
$4 84
3 80
Napoleons
recently been announced:
Per
cent.
following are quotations in gold for various coins:
Sovereigns
DIVIDENDS.
501
as
bonds
shown
follows:
April April April April April
20.
13.
—
par.
Agril
21.
1123e *11238 *112*0 *112*s *11210
..reg.Q.-Mar. *11230
ooup.lQ.-Mar. *11238 112*2 *1123g 112*0 *112*0 *11210
4s, 1907
122*4 122*4 U22i8 *122
,.reg.!Q.-.Tan. *121% 122
122*8 122*4 1221q 122i0
4s, 1907
ooup.jQ.-Jan. 12170 122
*102
3s, option U. 8 ..reg.iQ.-Feb. *10158 10178 *102
;no2 *102
*127
*127
*127
*127
*127
6s, cur'cy, ’95 ..reg.lJ. & J. *127
*129
*129
*129
*129
*129
6s, our'ey, ’96 ..reg.|J. & J. *129
*131
*133
& J. *135
..reg.lJ. & J.
6s,our'oy, ’98. ..regJJ. & J.
6s, cur’ey, ’97.
6s,our’ey. ’99.
*
.reeVJ.
*131
*133
*135
*131
*135
This is the price bid at the morning board: no
U. S.
and
*131
*131
*131
*133*0 *133*0 *133*s *133*9
*135
sale
*135
*135
was made.
Sub-Treasury.—The following table shows the receipts
payments at the Sub-Treasury in this city, as well as the
balances in the same, for each day of the past week :
Balances.
Date.
Payments.
Receipts.
$
$
Apr.l
8.
“
20.
21
«
“
22]
“
23.
24.
“
Total...
1,002,558
1.429,855
1.133.350
720,176
1.200.350
858,203
74
98
44
61
35
12
6,349,995 24
Coin.
s
Currency.
$
1,394,512 37 140,310,255 16 22,654,606 82
1,200,326 92 140,374,475 08 22,819,915 91
1,015,573 34 140,633,970 76 22,633,697 33
392,825 42 140,481,831 41 22,603,187 87
1,224,691 77 140,125,411 66 22,995,266 20
937,812 60 139,971,333 63 23,019,704 75
6,715,772 42
State and Railroad Bonds.—In State bonds the only feature
the decision of the Supreme Court requiring the State of
was
Virginia to accept coupons in payment for taxes, &c., which
sent up the bids for Virginia consols ten per cent.
The sales
for the week were as follows: $1,000 Missouri 6s, 1886, at 104$;
$1,000 do., 1887, at 106$; $2,000 do., 1888, at 107; $105,000
North Carolina special tax bonds at 4—5—4^; $10,000 do. 6s,
1919, at 109$; $45,000 Tennessee compromise bonds at
54$@55$. and $1,000 Alabama, Class A, at 89.
Railroad bonds have been quite active and almost uniformly
strong throughout the week, with notable advances in the
Prime commercial paper is quoted at 3$@4$ per cent. securities of some of the Gould roads. Missouri Pacific consols
England weekly statement on Thursday showed rose to 1031 on the announcement of the settlement, by com¬
a gain in specie of £325,243, and the percentage of reserve to
promise, of the famous suits against the company; they close at
liabilities was 48$, against 48 last week; the discount rate 101 against 95 last Friday; do 3d mort. at 113$ against 110. Erie
remains at 3$ per cent.
The Bank of France gained 9,897,000 2dsand West Shore 5s were almost entirely neglected; the former
close at 54$ against 54$, and the latter at 29$ against 29$;
francs in gold and 2,129,000 francs in silver.
The New York Clearing House banks, in their statement of Missouri Kansas & Texas general 5s close at 59$ against 58;
April 18, showed an increase in surplus reserve of $1,988,450, do 6s at 75 against 72$; do consol. 7s at 106$ against 105$;
the total surplus being $50,393,575, against $48,405,125 the Oregon Short Line lsts at 90 against 85$; St. Louis & Iron
Mt. 5s at 73 against 71$; Atlantic & Pacific lsts at 73$ against
previous week.
The following table shows the changes from the previous 69$; do incomes at 16$ against 15$; Kansas Pacific 1st consols
week and a comparison with the two preceding years in the at 100$ against 94$; Chesapeake & Ohio series B at 59$ against
64; do currency bonds at 16$ against 17$; Lake Erie <fc
averages of the New York Clearing House banks.
figures.
The Bank of
Western lsts at 65
1885.
Differ’nces fr’m
1884.
April 18.
Previous Week.
April 19.
Loans and dis. $301,963,300 Dec. $134,700
107.691.800 Inc. 1,636,500
Specie
49,700
Circulation...
10,913.800 Dee.
Netdepoftits.. 357,937,300 luc. 3,522,200
32,186,100 Inc. 1,232,500
Legal tenders.
Legal reserve
$89,484,325 Inc.
Reserve held.
139,577,900 Inc. 2,869,000
Surplus
$50,393,575 Inc .$1,988,450
$830,550
1883.
April 21.
$347,324,900 $310,807,000
60.750.400
14,463.301
340,661,300
53,869,800
16.496.300
286,676,100
26,981,500
18,423,500
$85,165,325
87,731,900
$71,669,025
72.293.300
*
$2,566,575
$624,275
Exchange.—The sterling exchange market continues dull and
firm, the posted rates having been again advanced $■ cent on
Wednesday, to 4 ’87 and 4 ’89. Commercial bills continue in small
supply, which fact is one cause of the strength of the market.
To-day the rates on actual business were as follows, viz.:
Bankers5 60 days’sterling, 4 86$@4 86$; demand, 4 88$@4 88J.
Cables, 4 88$@4 89. Commercial bills were 4 84£@4 85. Conti¬
nental
bills
Francs, 5 20$@5 21J and 5 18$@o 19$;
reichmarks, 94$@95 and 9o$@95$; guilders, 40$ @40$.
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day : Savannah, buying
•$ premium, selling f premium; Charleston, buying $ premium,
selling
were :
3-16@$
premium;
Boston,
5@10 discount; New
Orleans, commercial, 125 premium; bank, 200 premium; St.
Louis, 75@90 premium ; Chicago, 25 premium.
The
posted rates of leading bankers
follows
:
Sixty Days Demand.
April 24.
Prime bankers’sterling bills on London
Prime commercial
Documentary oommeroial
Paris (francs)
Amsterdam (guilders)........
Frankfort or Bremen (reichmarks)
are as
.
f.
4 87
4 85*0
4 85*4
4 89
521*4
4010
b
947*
18%
40**8
95 u
against 80.
Miscellaneous Stocks.—The stock markbt
the past week has been comparatively quiet and no feature of
Railroad and
conspicuous importance has been developed.
The general
course of prices has been irregular,
the Gould stocks beihg
strong and some of them advancing materially, which
led to the supposition that Mr. Gould himself had a share;in
the movement.
On the other hand, the grangers and Vander¬
bilt stocks have been rather drooping.
The principal bull card is still the war news from Europe,
though it has been followed with less interest the past week
than formerly.
The bears have relied much upon the reports
of heavy rate cutting in freights west from Chicago, and ttieee
reports have been persistently reiterated, though a strong $u$picion prevails that they are exaggerated by operators in Chicago
who are short of stocks in this market.
They have had the
elfect of depressing the grangers, however, and the Omahas
declined quite sharply in consequence.
As stated above, the Gould stocks have been conspicuously
strong, Missouri Pacific advancing on the announcement of the
final settlement of the two great suits affecting the company, which
disposes of the long litigation questioning the validity of its
title.
Union Pacific and Pacific Mail were also strong, and tlie
impression generally prevails that an agreement between these
companies and the other Pacific lines will be effected, as the
present arrangements have been extended by consent till June 1.
The Oregons and Northern Pacifies were sharply advanced on
Thursday, outlie rumor that negotiations were in progress look¬
ing to the lease of Oregon Nav. to North. Pac.; but they reacted
a little when it was found that the rumor was rather premature.
To-day, Friday, things were very dull, and weakness was
the rule throughout the day.
Iu the last hour the Oregons
turned sharply upward (to 75 for Navigation) and Northern
Pacific preferred was firmer at 40.
NEW YORK STOCK
STOCKS.
Monday,
April 20.
Saturday,
April 18.
RAILROADS.
*64
37
*30
Canada Southern
Cedar Falls & Minnesota
Central of New Jersey
Central Pacific
1st prof....
Do
Paul
prof.
Do
Chicago & Northwestern
pref.
Do
Chicago Rock Island & Pacific
Chicago St. Louis A Pittsburg.
pref.
Do
Chicago St. Paul Minn. & Om.
Do
pref.
Delaware Lackawanna
Denver & Rio Grande
132
132*4 132*4
132*2 132*2
37
31
10
*29*2
'"8*2
*8*2
834
*4
8
*5
*5
6
*5
11*2
7*2
West’n
96**4
131*2 131*2
11234 113
8*4
8*4
59
18*2
75*2
31*2
*71
30*8
Long Island
Louisville & Nashville
*25
18*8
93*4
123*2
90
*2
5
88
90*8
12*4
39
Erie it West’n
pref
England
Tin
Norfolk A-. Western, pref
Northern Pacific.....*
Do
pref
....
31
85
85*4
85*8
15*2
15*2
14*o
14*2
54*8
33
*11 *2
*27
17 7r
331-2
92*8
93*2
122
*38
1 8:{h
9
122
39 *2
90
‘^8
*2
5
*43i
88
88
88
12*8
12*4
23*2
12*8
23*2
39*4
17*2
39 34
7s
18*2
94**4
3*4
334
5**4
5*2
20
90
10*8
10*8
*10*2
s
58 78
8
59 7«
90
12
8 58
72*4
72*4
31*4
8
59
71*8
31
85 **4
86
i£>
11*8
12*2
*112
55 *4
*11
'25
2
2
4*8
5
13
18*4 18**4
94
95 *8
9
*(P2
*120*2 123*2
40
*38
89
90*8
*1**4
4
8 *-2
59**h
58*2
7 1 *‘8
31 *8l
71**4
305a
8*2
*87 *2
12*4
12**8
18*4
18*4
12**8
18*4
4
89
2*o
*5*2
*5**4
6*2
39
17*8
17*4
39*8
39
*
*6
12*4
11 7h
11*2
117S
12*8
12
12
16
16
1534
19*2
17*4
39 »4
*8
13
13
16
16**8
11*2
12
12
16
12
......
11**8
*25*8
18*2
95
*6 *2
38
89
12*8
17
39
17
39 *-2
5s
5s
165a
16‘"*8
117s
11*2
*11*2
16
59*4
72
30 7h
26 *2
85 **4
54*2
19*2
11*8
12
187r
95*2
25*2
18*4
94*8
25*-;
18 7r
95 *8
Bichm’d & West P’nt Terminal
Rochester A Pittsburg
Rome Waterto'wn A. Ogdensli’g
Bt. Louis Alton A Terre Haute
pref.
Bt. Louis <fe San Francisco
Do
pref..
.
.
12*2
16
89*4
......
19 78
20*2
1178
12*4
*1534
1st prof.
Bt. Paul A Duluth
pref
Bt. Paul Minneap. A Manitoba
Texas A Pacific
Union Pacific
Wabash St. Louis & Pacific
Do
pref.
20
20
19
*79
20
33
82
80
*88
80
90
1034
46*8 48;,fi
234
234
87e
8a4
10*2
234
22
21*2
*2 *2
234
19
*1834
21**4
2**4
21**8
*234
21**8
278
20
17*2
17*2
21*2
*2\
7**8
31
*78
87*2
10*8
47 **8
89*2
lO^a
48**8
48:*8
3
9
A
8*a
8*8
86*2
10*2
49**s
Jan. 16
11 L> t
4,310
47.724
*
7^
20
12**8
13*8
12*2
22
2134
3
278
*
*
Colorado Coal & Iron
Consolidated Gas Co
Delaware & Hudson Canal
Mutual Union Tel
Oregon Improvement Co
Oregon Railway A Nav. Co
Pacific Mail....”
Pullman Palace Car Co
Quicksilver Mining Co
Do
”
pref
Western Union Telegraph
EXPRESS.
Adams
American
United States
Wells, Fargo A Co
*2
10*4
83*2
3
10*4
8i34
no^
84
83
56
3
11
*55 34
*2
119*-' Feb 17
9
120 ~ Mar
1
1,000
1,010
19
300
19
32
79 7e
125
50
260
9
8
8
363
56**8
135
84*2
85
84
8134
83*8
10**8
10**8
86*->
81
67
54*8 55*o
115
*114
*4
5
*25*2 30
*4
*25 *2
58*8
57*8
57*8
*134
92
54*8
111
93
5138
111
69*2
135
93
53
*109
69*8
55*8 56
115
115
*4
5
*25*2 30
58*8 58 *2
55*2
5
30
58’-*8
135
93
54
10*2
8882
10*2
89**4
82
81=8
82**s
28
27
67
~
55 7g
115*2
57
7s
58**8
*92*2 93 *2 *92
53
53*2 53*2!
110*2 110*2 *109
110*2
93*2
53
110
54*2
115 **4
'4
*25 *2
58*4
*2
*10
89*2
81*4
3
11
90
82*4
27 **4
73 '
75
71
55 *2
54 78 55 *2
117*->
117
*116
*4
5
5
30
*25*2 27
5 3 **4
53*8 5834
135
*134
135
93*2 93*2 *92*2 93
53
54
*52
*52
110
110
110*4 109
Louisiana <fc Missouri River...
IHj
1*2
*130
*135
»
140
*135
Virginia Midland
Maryland Coal... ”
Co
New Central Coal
Ontario silver Mining
Standard Mining
*
These
are the
36*2 -Tan. 29
1 34 Feb. 28
447s Jan. 19
19
Jan.
2
2>7r Mar. 11
17
Jan
2
17*2 Apr. 22
5*4
100
50
534
19
19
prices hid and asked; no sale was made at tho Board.
’ Feb.
6
Apr. 23
79*4 Apr. 15
2L
Feb. 26
77 *2 Feb. 7
7934 Jan. 2
9*4 Apr. 8
41
Mar. 21
*2*2 Apr. 16
8
Apr. 24
18
31
Mar 28
5*8 Jan.
81
934 Feb. 17
61
197h Apr. 23'
6'
12*2 Jan
3
8
~
Feb
Feb
13
~ 127*2
28|
58
83*2 122*4
4
10*2
7*4 20
94
83
11*8 28*2
71*2
20
17*4
8
175
7
184
1634
134
20
2534 Feb 26
19*4 Feb. 26;
44
Mar. 16
1 »4 Jan.
2|
19
Jan 14!
12
Mar. 19*
20 *2 Apr. 23;
*
17
14
37*4
1
14*8
6
18
42
27
57 3a
4 *2
25 7s
1134
8*4 24
6*4 34*8
1438 Jan. 2
17 34
7
15*2 Feb. 27
16
19
Jan.
2
78 60*8
128*2 Apr. 17 119*2 135
129*2 Apr 20
146*2
142*4 Apr. 21 138
5
2 *2 Jan. 17
2*8
61
32
54
Mar. 9
32
12
26*4 Mar. 11
4
19
25
Mar. 6
Feb. 20
Feb. 26
21
Feb.25
39 34 Jan.
8
87 *2 Jan. 10
24
Fob. 27
80*2 Mar. 18
90 78 Mar. 16
137r Fel). 26
51*8 Feb. 10
5 *2 Jan.
7
14
Jan. 12
11 *2
Mar. 26
22
17S
14
18
70
11*2
o24*2
16 *s
24
50
96
29
50
70
96*2
15
32 34
90
99
65
76*8
5*2
28
4
9
49
1
7
67
10
8''h
22*8
84 °8
1934
32
12734
17*2
114
173s
65*8
6034 112
57*8
31
90
334
117
'
6*2
34
20
49
78*8
.Tan. 28 125
2 135
3 93*2 Apr. 23; 87
45
Apr. 7i
2 55
2 111
Apr. 16! 98
137
102
61*2
115
8
62
8034
Mar. 19
142
67 78 Mar. 20 78
147 ”jan. 29 152
22
Feb. 27 2234
1 *4
1*8 Mar. 10
50
Jan.
8 50
6
2*o Feb. 25
26
22 *2 Mar. 4
122
Jan. 22 135
18
15
Jan. 10
40
Feb. 13 46
19
Feb.
9 20
10
Jan. 30
1034
8
7*2 Apr. 6
7
534 Apr. 18
17
Feb.
7 19
1*2 Mar. 26
t Lower prico Is ex-dividend.
24
40
6*4
Feb! 251
i434Jan.
79
10
23
85
115
30
56 L> A pr.
110 130
Jan.
75
87 *8 Jan.
48
107
Jan.
240 104*8 Jan.
190
1*0
95*8
35
3638
17
9*2 23
G3 *2 100*2
Jail.
4
8
2*4 Mar. 19
320
8
Jan.
3 13 34 Feb. 24
SO
Mar. 21 94 34 Mar. 12
4,009
66 *2 Jan. 22 86*4 Apr. 15
12,032
Apr. 1 3
14*4 Mar. 21 31
Feb. 20
320
2T * Jan.
3 34
9,125
Apr. 24
5934 Jan. 29 75
110,451
463j jwar 21 62 *8 Mar. 9
2 117
Apr. 23
1,500 107*o Jan
i3* Mar. 30
4*4 Apr. 7
30
.1 a n. 30
30
Jan. 30
23,926 53 *2 Jan. 2 63 34 Feb. 10
69 34
1*2
1*2
115
*134*--.
*134
3
10**8
89 *2
66
5434
*2
Jan. 17
229
27s
‘
2
210
100
278
3
Jan
Jan!17
1,500
1,610
219,405
*2
3
10 **H
85
5
1478 Mar. 21
1034 Apr. 8
12 ' Apr. 20
13 *4 Mar. 30
290
900
*55
2
Feb
36*2 Jan. 29
*2 Apr. 24
12*i Apr 90
900
16
22
3
15
950
1034
49**8
56*2
42*-j Feb 271
03i Apr 14
1 7g jan ’ 12
14,175
10**4
48**4
56*2
2
Jan!
11*4 Fob.
450
Danbury <fc Norwalk
Keokuk” <fe Des Moines
Canton Co
Consolidation Coal
Homestake Mining
187g Mar. 3
97*8 Feb. 10!
9*4 Feb 25'
2(i
12
175
380
10**4
49**4
2*2
28
INACTIVE STOCKS.
Atchison Topeka <fc Santa Fe.. x69*2
Chicago & Alton, pref
Cincinnati Sandusky A Cleve..
Columbus Chic. A Ind. Centr’l
New York Elevated
14*2 Jan. 22
89 *2 Mar. 21
10
56
*2
i!
13
Feb. 26
29*-> Feb 20
84*2
700
1,620
30.469
"
20
16
2
10
64*2
105
5134 94*2
44 34
31
7*0 18*2
343, PVh
10*o .Tan. ‘26
Mar. 25
MISCELLANEOUS.
American Dist. Tel
American Tel. <fe Cable Co
Bankers’ A Merchants’ Tel....
20
1
10*4
487a
9
9
Feb
4
10*2
49**8
9
Jan
32
200
10*2
*
90
1,000
87
2*2
15
19
**4 Mar. 31
20
410
1734
40'a
*2
*12
9(1
18
15*2 Apr 20
*
44
7!
Mar
933i Jan 30
61*-> Feb
30,703
17,925
87
3
97lo .Tsin
6
86 *2 Apr.
700
3,115
19
*2
97 lo Koli
<;
m
Jan. 15
Tan
3
65
11
260
500
86
it
1 0
62
1,090
85
48**s
17
Tnii
6,552 .22
19 78
19
79 7s
84
Jan
14!
89 *-
142
19*2
31
10
3
Jan.
6
190 *8 Jan 20
14
Mar. 26
Apr. 22
Apr. 20
Apr. 15
Jan.
2
......
17*2
39 «a
20*2
13*4
12*4
16*2
81
87*2
10*2
234Jan. 15
478 Jan. 23
f57L».Tnn
2*2
*2
*15
*181-2
6*8 Apr. 24
119*2
8 t ~
10*8
4,935
6**4
59,660
58*4
100
22
9
82^ Jan! 22
3,020
19*2
2*2
6*2
40-78
°4
Jan"
23
3
100*4 12634
6
13*4
19
Feb. 27!
16*2 35
38*8
21
29
Feb. 25!
78
91*4 Feb. 25! 8034 100
69*2
3«
28
Feb °4!
125*8 141 ”
20
33
33
Jan 27
8634 133*8
109*8 Mar. 9
10
Jan. 151
G3^ 25 *a
82
52
65
Feb 12
8*4
3
438 Mar. 10
8
Mar. 3
434 14*2
51
30
8*2
3*2
47s Apr. 22!
200
200
Mar 24! 185
51
20
30
Jan. 14|
140
127
Mar 14! 110
86
88io Feb 17j
'70
20*4
9
14*2 Feb! 24!
17
Feb. 21]
678 1934
67 7a Feb. 25
59*2 10434
78*4
73*4 Mar. 31' 62
22*2 51;>8
33*4 Feb. 27
2 11634 Mar.
9
Mar.
Mar. 31
Jan.
Jail. 17
462
*12
12*4
39**8
**2
142
142*4 142*4
49*2
22 34
27«
*31*2
100
383
-
142
49*2
22*2
*2;j4
*18
3,200
*s
19
18
2
2
Jan.
Jan.
400 11434Jan
100
38
89 **4
*2
*5 **4
19
17 78
Jan. 28
18*2 Apr. 21
75*2 Apr. 21
200
615
6U0
300
100
300
128
129 *o 129 V
142
1,665
1,206
T‘2H
c’tfs.
86,560
55
11**8
4
2
Jan.
15
*112 \
55 *2
*7*4
*7
*2
*7*4
7,719
9,818
1,080
100
19*8
128
2,333 102
84^
910 119 34
2,345 105
340
6*2
38
89*2
12**o
*2
17*4
85*2
85 '8
*1**4
4 *8
......
26*2 Jan. 31
3
Apr. 7
7
Apr. 7
126,050
3*2
5*2
45*2
4 *2
*80
*25
91
6**8
-15
*85
15
Feb. 18
Mar. 25
7
31
10,395 115*2 Jan. 2
231,997
68*2 Mar. 25
60
19
126
31
40
*8
12*4
Philadelphia & Reading
Do
18
93 •■’b
89*8
Ohio Southern
Do
25*2
19
Ohio Central
Rensselaer A Saratoga
Rich. A. Alleg., stock trust
RiehTnond A^Danville
6 *8
60
*15
126
*112
25
*
17
17
186
186
7 *2
7*2
17 *2
Peoria Decatur & Evansville..
104 *2 105*8
38
*112*2
54,38
90*2
234
5*4
pref.
Oregon Short, Lino
Oregon & Trans-Continental...
71*2
31*4
85
9
*6
*1 >>>>
New York Central & Hudson..
New York Chic. & St. Louis...
Do
pref.
31*4
*112
55 >8
33 *2
18*8
92*8
Missouri Kansas & Texas
Missouri Pacific
Mobile A- Ohio
30*8
GO
77
*4
*125 *2
*80
7*8
7
7634
5
■
11
20*2
Feb
100
6 '8
40
55
*32 *•’
pref
59*4
71*2
31*4
*113*2
I)n
72
60
72
634
7o
86*2
40
Wnmmfljinlir it* St. Louis
17
126
*14
126
10*2
7*4
58
700
310
12
108
534
20*4
57
29*4 Jan. 31
934 Mar. 23
20
*15
*4
47«
478
4**4
.4*8
4*8
*5 *2
8*2
Mar 95
3534 Apr. 24
5,620
6,842
135
126
80*o 90
80
50
4
39
58*4
4478 Jan. 3
24 34 57 7e
35
Feb. 20!
12
8
11
Feb. 12!
11
16
13*8 Mar. 12
41 **8 Mar. 9!
37*2 90
67 34
36
30
Feb. 25;
15
5
634 Feb. lOj
9*2 28
12*4 Feb. 26
17
118
140*4
12734
125*2 Mar. 14! 107
76 *8 Jan. 12
58*4 94*4
108
95
Mar. 27!
7e 119
9834 Apr. 13| 81*2 124
149*2
134
Feb. 26, 117
9 132*2 Apr
90 34 Feb
Feb
4 65
Feb.
88
14*o
*3*4
5**4
3 **4
6
3**4
3**g
6
45
*5 *2
45
95 *«
130
113
*7*2
60
*3*4
3 *2
9478
130
113
105*4
078
65s
71
7 0 *8
103*2 104
19 ‘8 20 *2
78
78*2
31
*30
140
140
i05s8 i04*a
104*2
6**8
124
High
Low.
Highest.
100
400
5*2
121*2 12158
113**8 113**8
8*2
8*2
17 *2 17 *2
78
30
76
29
80
31*2
Lowest.
2,750
8*4
8**8
x5
27
85*4
consol...
Do
21*2
104*8 106*4
6 *4
6 *4
if
9
59 34
72
*378
4**8
112*2 112*2
9
*7*2
17*2 17*2
19*% 20
19
*15
18
10*2
78
i
32
4
8
138
121
121 7r 121*2 122*4
70 *2 71*4
70*4 70 *8
*104 **4 105*4 105*8 105 5a
95*o 96
94 **4 96
*130
130
131*2
130
94*8
46
11*2
r* 7
77s
4**a
120*2 122
69 78 71,38
105
105=*2
32
*15
32
4
5
8
6
3534
*29*2
138
534
16
16
125 78 12578
36*4
31 78
4
8
3134
5
3*2
35**8
31**8
4
3178
46
36*4
35**4
31 *2
*378
3*2
10
3 5 **4
32
5
3
Paul.
10
35*4
3178
3*2
11
36*8
32*4
35
3*4
*10
*9*2
35 34
32
10*2
30
10*2
35*4
31*8
33*8
30
31
35*4
36*4
30*2
36*2
30*2
*10
351s
31*8
70
32
89*2
36*4
*29*2
36*2
10
(Shares).
~64
*63
*36*4
36*2
*29 *2
10*2
*3 '**8
5 *2
Central
New York & Now
Thursday,
April 23.
60
Indiana Bloomingt'n &
Lake Erie & Western
Lake Shore
New York Lake
Do
37
105*8 106*8 104*2 10534
6 *2
6^
6*4
6*8
& West.
Bay Winona Ofc St.
Manhattan Elevated,
April 22.
*934
33*8
East Tennessee Va. & Ga..—
Do
pref.
Houston & Texas
Wednesday,
89*2
136*2 136 >2
121
120*2 122
12134
69 34 71
70*2 72*2
105
105*4
105*2 106
95*2 96*2
95*8 97*4
132
132*2
113*2 114*2 1127g 113*4
*7
*7
8*2
8*2
19
*15
16*2 16*2
21*4 22
21*4 23 34
82
80
79*2 81*4
Chicago Burlington & Quincy.
Chicago Milwaukee & St.
65
37
31
90
Friday,
April 21.
Tuesday,
April 21.
For Full
Year 1884.
Range Since Jan. 1, 1885.
Sales of
the Week
LOWEST PRICES.
AND
132
90
rvoL. xl,
ENDING APRIL, 24, AND SINCE JAN. 1, 1885.
EXCHANGE PRICES FOR WEEK
HIGHEST
Green
CHRONICLE.
THE
502
Jan.
152
23*2 24
Feb. 27
2
1
Feb. 5
50
50
8
Jan.
5
5
Feb. 17
19*2 24
Mar. 17
130
Apr. 17 115
21
15
Mar. 3
39*2 40
Apr. 15
23*2
18
Feb. 27
11
8
Mar. 10
15
7
Mar. 251
10
5
Feb. 25
29
14
Apr. 20
1*2 Mar.
26’
1H
7*4
April
THE
25, 1885.]
503
CHRONICLE.
QUOTATIONS OF STATE AND RAILROAD BONDS, AP21IL. 21, 1885.
.STATE
BONDS.
I
Ex-matured coupon
Missouri— 6s, 1886
6s, due 1889 or 1890....
Asyl’m or U niv., due ’92
Funding, 1894-95
Hannibal A St. Jo., ’86.
New York—0s, reg., 1887
0s, loan, 1891
6s, loan, 1892
6s, loan, 1893
N. Carolina—6s, old, J.&J.
8
20
15
15
8
......
3.
101
IO434 105
110V
7s. 1886.1
7s, gold, 1890
74
63
104
110
116
120
105
Louisiana—7s, eons.,1914
89
88
102
85
106
3
12
12
Alabamar—Class A, 1900.
Class B, 5a, 1906
Class C, 4s, 1906
6a. 10.20s, 1900
Arkansas—6s, funded
73, L; Rock A Ft. S. iss.
7b, Memp.A L.Rock RR
7b, L. R.P.B. A N.O. RR
7a, Miss. O. AR.R.RR.
78, Arkansas Cent. RR.
Giorgia—6a, 1886
Bid.
SECURITIES.
Ask.
Bid.
SECURITIES.
105V
Ask.
107
Special tax. all classes..
Ask.!
Bid.
SECURITIES.
Del. L. A W.—Contin’d—
!
i
Railroad Bonds.
Alleg’y Cent.—1st, 6s, 1922
Atch.T.AS.Fe—4 Vs, 1920'
Sinking Fund, 6s, 1
.!
*
117
,108
...
★
! 96
■*
! 130
i‘12
»■
i
*107
General, 6s, 1924.
Can. So.—1st, int. gi
}j
!
j'
Reg., 5s, 1913
’!
(
j 97V|
1 68 V
i *98 *
*58
101
V
101V’
J
65
\
| *55
*10.5
Chesapeake A Ohio—
1
......
r
Central Iowa—1st, 7s,’
East. Div.—1st, 6s, 1
Ill. Div.—1st, 6s, 19
Char. Col. A Aug.—1st
i
98
i*
•
1
110
1 97
59*8
j1
6s, currency, 1918
Mortgage 6s, 1911
16*4
t*
i
*60
Ches.O.AS.W
M. 0-6.3..
Chicago & Alton—1st, 7; ”11834
1
Sinking fund, 6s, 190 c
La. A Mo. ltiv.—1st, 71
2d, 7s, 1900
—
68, Act Mar. 23, 1809)
non-fundable, 1888.)
Brown consol’n 6s, 1893
Tennessee—6s, old,1892-8
6s, new, 1892-8-1900 ...
1
*116
2d, Os, 1899
Mex. Cent.—1st, 7s, 1911
1st M„ 7s, ex-cp.,6,7, A 8
j1
*55
128
100 V
i
1
*100
Coupon, 5s, 1931 ...
Registered, 5s, 1931
Milw.A
10334'!
enn.
108
97
Pa. Co.’s 4 Vs,Reg.,
1921
Pitts.C.ASt.L.—1st,c.,7s
1st, reg., 7s, 1900
2d, 7s, 1913
Pitts. Ft.W.A C.—1st,7s
2d, 7s, 1912
3d. 7s, 1912
118*2
139
135*2
129
4th,
s.
.
j1 ii'8*‘
'!
fd., 6s, 1892.... *109
118
|
2d, 7s, 1898
2d, guar., 7s, 1898
....
I
Pitts.B.AB.—1st, 6s, 1911 *--.Pitts. Cleve. A Tol.—1st,Os *106
Pitts. June.—1st, 6s, 1922:
Romo W. A
Og.—1st,7s,’9l!
j
Con., 1st, ext., 5s, 1922.
..
.
...
...
.
...
:
Friday: these are latest quotations made this
week.
!
„
„
0
„
7034
1
1
1
1
*2934 !1 30 V
1!
*28 V
53
I..
Debenture, 6s, 18971...
83 V 1"
110
110
92
1
82
53*2
Rich. AAlleg.-lst,7s,1920
101
Rich. A Danv.—Cons.,g.,Os 100
64
61
Debenture 6s, 1927
1
110
Atl.ACh.—1st, pr.,7s,’97.
Incomes, 1900
Scioto Val.—1st, cons.,
St, L. A Iron Mt.—1st,
50
7s.1 40
7s. 114 *4 115
,109
2d, 7s, 1897
112
Arkansas Br’ch—1st, 7s HO
110
Cairo A Fulton—1st, 7s. *
Cairo Ai*k A T.—1st, 7s.1 104 V
Gen. r’y A1. gr., 5s, 1931
73 V ■‘74'
Registered, 6s,
N.O.
Pac.—1st,6s,g.,19201
Norf.AW.—Gen., 6s, 1931
New River—1st,6s,1932
84" * I
1110
..
General, 6s, 1921.
1
*90
it
I
93
I
c: C
★
j 89 V
1
Pacific Railroads—
112
..
San Joaquin Br.—6s .. *103
98
Cal. A Oregon—1st, 6s
98
Cal. A Or.—Ser. B., 6s.
|
'
101
100
1
j
I
91V'
102 V
113
105
100
.
75
75
*51
Ind’polis Div.—6s, 1921.
90
107
99 V
89
Equipm’t bds, 7s,’83.) *30
Consol, conv., 7s. 19071
72 *2
Gt.West’n—1st, 7s, ’88 105
2d, 7s, 1893
1 90
Q.A Tol.—1st, 7s, 1890
Han.A Naples—1st, 7s!
107 V
101
90
105 V
Ill. A So.Ia.—1st,ex.,6s'
St.L.K.C.AN.— R.e.,7s
Omaha Div.—1st, 7s.
Clar’da Br.—6s, 1919
St.Chas.Bge.—lst.Os * 107
1
94*4
So. Pac. of Cal.- -1st, 6s
So. Pac. of Ariz. —lst.Os
1921
1st, St. L. Div., 7s, ’89.
2d, ext., 7s, 1893
1
99 V 99 V
107
108 V
103
1
Land grant bonds, 6s.
West. Pac.—Bonds, 6s..
Iowa Div.—6s,
62
60
...
X
Tol.P.AW.—lst.7s,1917j
Detroit Div.—6s, 1921
Cairo Div.—5s, 1931
Wabash—Mort. 7s, 1909,
Tol.A W.—1st, ext.,7s.'
i
Oreg’nA Cal.—1st,6s,1921
Or.ATransc’l—6s,’82-1922 *72" "75
85
82
Oregon Imp. Co.—1st, 6s. i 112
Oreg’n RR.ANav.—1st,6s
(
Debentures, 7s, 1887
Panama—S.f., sub.6s,1910
Peoria Dec. A Ev.—1st, 6s
E vans.Div.—1st,6s,1920
PeoriaA Pek. U’n—1st,6s. 102
1
l
.....
*
1st, Term’l Tr., 6s, 1920,
1st, Min’l Div., 6s, 1921 I
Ohio So.—1st, 6s, 1921....
Div.-lst,6s, 1912
6s,1927:
Wab.St.L.APac,—Gen., Os
Chic. Div.—5s, 1910
! 55 j
f
90 V
Hav. Div.—6s, 1910
•
*10
*10
Va. Mid.—M. inc.,
104
Consolidated, 7s, 1898.. i 117*4
2d consolidated, 7s,1911 110 V
1
53*2'
1st, Dayt. Div., 6s, 19H>!
1st, Ter. trust, 6s, 1910.;
Tex. A N. O.—1st, 7s, 1905,
Sabine
JhioA Miss.—Consol, s. fd ! 117V
Central Pac.—Gold 6s
iio*
105
'99
2d, income, 7s. 1894
Bellev.A So. Ill.—1st, 8s 114
St.P.Minn.A Man.—1st,7s 109*2
2d, 6s, 1909
1 110*2111
114
Dakota Ext.—6s, 1910.J HO
1st, consol., 6s, 1933
i 106*2 107
1st, consol., 6s,reg.,1933i
Min’s tin.—1st, 6s, 1922 107
St.P.A Dul.—1st, 5s, 193l! 103
105
So. Car. R’v.—1st, 6s, 1920 *103
:
104*4 104 V
19921.
111
:
Nevada Central—1st, 6s..
cp.
120
80
108
73*4
J
Rorh.APitt.—1st, 6s, 1921
Consol., 1st, 6s, 1922
109
1053^
.
1130*9
125*4!
St.L.V. AT.H.—1st,g.,7s
No.—1st,'6s, 1910
Ask.
Bid.
RR.—Continued-
Clev. A Pitts.—Cons.s.fd.
*
,
...
Metrop’lit’n El.—1st,1908
Ill8
..
.
110
SECURITIES.
1
108
97
,
11*104
132 V
113
3-65s, 1924
Registered
Funding 5s, 1899
AskJ
Bid.
SECURITIES.
103 V 104
100 1101
131
131
I
lst.7s,1927i*l-l 122
109 V 111
Iowa Ext,—1st, 7s, 1909:
1102
101V 102
2d, 7s, 1891
133
S’til w. Ext.—1 st, 7s,l 910 113*4 11341
1st, cons.,guar:7s, 1906 128
100
I
112
Pac. Ext.—1st, 6s, 1921.
1st, cons., gu., 6s, 1906 HIV
140
Mo. K.A T.—Gen’l,6s, 1920
liens. A Sar.—1st, cp.,7s 138
*138
60*4 60 V
General, 5s. 1920
1st, reg., 7s, 1921
107
93
95
■107V
IIJenv.A Rio Gr.—1st, l900
Cons., 7s, 1904-5-6
65
52
52 V
Cons., 2d, income, 1911. *60
| 1st, consol., 7s, 1910
70
) 104V'
75 |
H. A Cent. Mo.—1st,
Don.So.Pk. A Pac.—1st,7s.
106
40
34
4034l Mobile A Ohio—New 6s..> | 104
i I Jen. A RioG. West.—1 st,6s!
! 95
55
Collater’l trust, 6s, 1892
Det.Mack.AMarq.—1st,6s;
1
71
! Land grant, 3*28, S. A...'
1st, Extension, 6s, 1927!
'107
E.T.Va.AG.—lst,7s.l900f 114
Morg
45
48
1st, 7s, 1918
1st,'cons., 5s, 1930
'120
91V 95
Nash.Chat.A St.L.—1st,7s
Divisional 5s, 1930t
2d, 6s, 1901..
Eliz.C.A N.—S.f.deb.,c.,0s
N. Y Central—6s, 1887... 105
1st, 6s, 1920
100 v
73
84 V
Dob. certs., ext’d 5s
Eliz.Lex.A Big Sandy—6s
.j
135
N.Y.C.AH.—1st, cp.,
Erie—1st, extended, 7s... 124 V
135
1st, reg., 1903
2d, extended, 5s, 1919 .. 107*8'
102
V 1023.
Deb., 5s, 1904
3d, extended, 4 Vs, 1923. 103 j
Hud.ltiv.—7 s,2d,s. f.,’85 103 (
4tli, extended, 5s, 1920. 105 I
J_
1353j
107*2
11034
Harlem—1st, 7s, coup ..
5th, 7s, 1888
1 35
1 st, cons., gold, 7s,
1st, 7s, reg., 1900
H I 115
110
N.Y.Siev’d—1st, 7s, 1906 119
1st, cons., fd. coup., 7s ..i*
N.Y.P.AO.—Pr. I’ll, 6s,’95
Reorg., 1st lien, 6s, 1908
40
116
1 41
N.Y.C.AN.—Gen.,6s, 1910
j
Long Dock b’nds, 7s, ’93
! 39 V
127
Trust Co. receipts
Buff.N.Y.AE.—1st, 1916
|
N.Y. A N. Engl’d—1st, 7s 1133,
N.Y.L.E.AW.-New2d6s
1
1
:* 103
Collat’l trust,
Registered, 7s, 1894
I
1st, Pa. Div., cp.,7s,19171
1st, Pa. Div., reg., 1917.1
Alb. A Susq.—1st, 7s
1
50
4V
District of Columbia—
47*4
47 *4
1st, 6s, 1884-1913
116*4 Mil. L.S. AW.—1st,6s,1921
1
Mich. Div.—1 st, 6s, 1924
1 100 v 101
6s, 1922.
5s, debentures, 1913
Buff. AS. W.—M.,Os,1908! .....
la. Div.—S. fd., 5s, "~“ *105
*94
Ev. A T. H.—1st, cons., 6s' 104
Sinking fund, 4s,
Mt.Vern’n— 1st, Os, 1923'
Denver Div.—4s, 1922.. *94 -V 95
93
90
*87
Plain 4s, 1921
Fargo A So.—1st, 6s, 1924
129
V Fl’tAP.Marq.—M.6s, 1920 *
•C.R.I. A P.—6s, cp., 1917. 129*4
114*2
*129
Gal. Har.A S.Ant,—1st, 6s *
;100
68, reg., 1917
108 V 109
Ext. A Col., 5s, 1934....
2d, 7s, 1905
......I 9978
West. Div.—1st, 5s
Keok. A Des M.—1st, 5* 106 a4
I 91V; 92*2
j
■Central of N.J.—1st. ’901
11034
2d, 6s, 1931
1
1
100 j Gr’nBayW.ASt.P.—lst.Os'
99
68 |
102 V! Gulf Col. A S.Fe 7s, 1909 *
100
'107
2d, 6s, 1923
Adjustment, 7s, 1903... 105
11548
65
Han. A St. J.—Con.6s,1911 115
Conv. debent. 6s, 1908..
97
Houston A Texas Cent.—
Leh.AW.B.—Con.g’d.as. k 96
86
84
1st, M. L.,7s, 18911 ....
Am.D’kAIinp.—5s, 1921
73*2
Ch.M.A St.P.—1st,8s,P.D. 130
1st, Western Div., 7s t..
75
119
2d. 7 3-10s, P. D., 1898
1st, Waco A No., 7sr —
60
2d, consol., main line, 8s
1st, 7s, $ g., R. D., 1902. 129V 130
119
2d, Waco A No., 8s,1915
1st, LaC. Div., 7s, 1893. 118
►30
General, 6s, 1921
1st, I. A M., 7s, 1897 ... 121V 122 V
1 Houst.E.AW.Tex.—1st,7s
1st, I. A D., 7s, 1899.... 118
127
! 2d, 6s, 1913
1st, C. A M„ 7s. 1903..
123
123 V Ill.Cen.—Spd.Div.—Cp. 6s
Consol. 7s, 1905
104 y
124
Middle Div.—Reg., os
12134
1st, 7s, I. A D. Ext.,1908
C.St.L.AN.O.—Ten.1.,7s
1st, 8. W. Div., 6s, 1909. 112 V
98*4
1st, consol., 78,1897.. i'2‘5* 126
1st, 5s, LaC.ADav.,1919
2d, 6s, 1907
Ist.S.Minn.Div.,6s, 1910 112 1
111
112*2
120
1st. H. A D., 7s, 1910..
Gold, 5s, 1951
Dub.A S.C.—2d Div., 7s. *115
Chic. A Pac. Div.6s, 1910 114 ! 115
95 V 9534
Ced.F. A Minn.—1st, 7s. 115*2
1st,Chic. A P.W.,5s,1921
1 97
| Ind.Bl.AW.—1st, prof., 7s 112
Min’l Pt, Div., 5s, 1910.
1^ 99
70
1 1st, 5-6s, 1909
:..
C.AL.Sup. Div. 53,1921
56
9434 94 V1
Wis. A Min. Div.5s, 1921
2d, 5-6s, 1909
*75
90 V 91*41
Eastern Div., 6s, 1921..
Terminal 5s, 1914
Chic. A Northwest.—
Indianap.D.ASpr.—1st,7s 85 |
77 I
1st, 7s, ex fund, coups.
Sinking Fund, 7s, 1885. 102V
138
Int.A Gt.No.—lst.Os, gold 107*4
Consol, bonds, 7s, 1915.
67
Extension bonds, 7s, ’85 102V
Conpon, 6s, 1909
102 V1
Kent’ky Cent.—M.6s,1911
1st, 7s, 1885.
Stamped, 4 p. c., 1911 ..
Coupon, gold, 7s, 1902.. 130
L.Shore-M.S.ANI.,8.f.,7s 103V1
Regist’d, gold, 7s, 1902. *129 V
113
Cleve. A Tol.—Sink’g fd *102 34
Sinking fund, 6s, 1929..
112*2
New bonds, 7s, 1886.. 102*2'
Sink, fund, 6s,1929,reg. *112
112 V
Cleve. P. A Ash.—7s
10234 104 V
Sinking fund, os, 1929
Buff. A Erie—Newbds,7s 119*2 122*2
Sink, fund, 5s, 1929, reg
Kal. AW. Pigeon—1st..
Sink’g fd. deb., 5s, 1933. *9834 99*'
97 V 98
IJet.M.A T.—1st,7s,1906
■25 years deb. 5s, 1909 ..
Lake Shore—Div.bouds. 120
EscanabaA L. S.—1st,6s
Consol., coup., 1st, 7s. 128*2
Des M.AMin’ap.—1st,7s
130
Iowa Midland—1st, 8s.. t124
Consol., reg., 1st, 7s .. 125*2 127
Consol., coup.. 2d, 7s.. 115*4 116
Peninsula—1st, conv.,7s!
115
1II6
Consol., reg., 2d, 7s
Chic. A Milw’kee—lst,7s *120
Long Isl. RR.—1st, 7s,’98 *121 I
Win.A St. P.-lst, 7s,’87i 106
104*4!
126
1st, consol, 5s, 1931
2d, 7s, 1907
*
Louis. West.—1st, 6s
Mil.AMad.—lst,6s,1905
Louisv. A N.—Consol., 7s. 116V 117
Ott.C.F.ASt.P.—lst,5s! 101*2
100
90
Cecilian Br’ch—7s, 1907
C.C.C.A Ind’s—1st, 7, s. fd *125
80 34 82
N.O. A Mob. -1st,6s,1930
Consol. 7s, 1914 1
72
67
V
2d, 6s, 1930
Consol. sink, fd, 7s,1914
109
E.H.AN—1st, 6s, 1919. 106
General consol., 6s,1934
90
General, 6s. 1930
Chic. St. P. Min. A Om.—
112
Pensacola Div.—6s,1920
Consol. 6s, 1930
96 V
C.St.P. AM.—lst6s,1918 120
43
No. Wis.—1st, 6s; 1930.
*113
St.P. A S.C.—1st,6s,1919 117*4
*
90
S. AN. Ala.—S.f.,6s, 1910
Chic.A E.I11.—l8t,8.f.,cur.;*113
(113*2
Louisv. C.A L.—6s, 1931
Consol., 1st, 6s, 1934....
993s 100*4
81V 82
Trust bonds, 6s, 1922...
Chic.St.L.AP.—lst.con.5s! 73*2 78
70
10-40, 69,1924
Chic. A Atl.—1st, 6s, 1920
70
65
L.Erie AW.—1st, 6s, 1919
2d, 6s, 1923
70
Sandusky Div.—6s, 1919
Chic. A W.Ind.—1st, s.f.,6s
70
65
Laf.Bl.A M.—1st, 6s, 1919
Gen’l mort., 6s, 1932
96
Louisv.N.Alb.AC.—1st.
6s
Col.A Green.—1st,6s,1916; .
General mort., 6s, 1914.
.
2d, 6s, 1926
Lou. N. O. A Tex.—1st, 5s *90*4 90 V
Col. H.Val. A Tol.—1st, 5s;
76
Manhat.B’ch Co.—7s,1909
Del. L.A W.—7s, conv.,’92
N.Y.AM.B’h—lst,7s.’97
Mortgage, 7s, 1907 —.' 132
No prices
I
108 V!
1920.!
!
.
4
107
Mich.Cent.—Cons.7s, 1902
125
Consol., 5s, 1902
126*4
6s, 1909
120
120 V 122
96 V 97
112
113
115
116*4
!
55V
BONDS.
[ Ask.
114*4 115
6s, new, 1866
6s, consol, bonds
6s, ex-matured coupon.
6s, consol., 2d series
6s, deferred
10934
3
-
'130
87V
106
..
mu j
*116
1st, guar. (564), 7s, ’94 *116
2d, (360), 7s, 1898 ... t 125
125
Chic.Burl.A Quincy—
j1
98
00
17
80
70
|121
.
7s.
2d, 7s, 1891
Bonds, 7s, 1900
7s of 1871, 1901
1st, consol., guar., 7s..
N. Y. Lack.A W.-lst, 6s
Construction, 5s, 1923
Del. A Ilud. Canal—1st, 7s
7334' 74
»' 107
Consol., 1st, 5s, 1934
126
139
Syr.Bing.AN.Y.—1st,7s
Morris A Essex—1st,
(Stock Exchange Prices.)
Ala Central—1st, 6s, 1918;
Atl. & Pac.—1st, 6s"]
Bid.
SECURITIES.
....
South Carolina-
RAILROAD
Ask.
47 *4
55
39
39
75
45
0s, new series, 1914
C’mp’mise,3-4-5-08,1912
Virginia—6s, old
86
103
6s, 1919
Ohio—6s, 1886
115
117
30
10
Bid.
SECURITIES.
18
4
Wil.C.ARu.R.
Do
Consol. 4s, 1910
......
Ask.
Tennessee—Continued—
N. Carolina—ContinuedNew bonds, J.AJ., ’92-8
113
Funding act, 1900
Bid.
SECURITIES.
No. Missouri—1st, 7s..
West. U n.Tel.—1900, coup
1900, reg
N.W. Telegraph-78,1904
Mut.Un.Tel.~S.fd,Os, 1911
113
113
110
69 V
7034
23
23 V
INCOME BONDS.
| (Interest payable if earned.)
'93 V
Atl.A Pac.—Inc., 1910
113*4 ......! Central of N.Jv—1908
105 V
...1 E.T.V.AGa.—Inc.,6s,1931
.| Gr.BavW.A St. P.—2d,inc.
118
118
118 V: Ind.Bl.AW.—Con., inc.,6s
Ind’sDec.A Spr’p—2d,inc.
....
grants, 7s, ’87-89
Sinking fund, 8s, ’93..
Reg., 8s, 1893
Collateral Trust, 6s...
Land
Do
5s. 1907
Kans.Pac.—1st, 6s, ’95
1st, 6s, 1896
IJenv. Div.6s.ass..’99
1st, consol., 6s,1919.
C. Br.U.P.—F.c..7s,’95
At.C.AP.—1st,6s,1905
At. J. Co. AW.—1st, 6s
Oreg. Sliort-L.—1st, 6s
Ut. So.—Gen.,7s, 1909
Exten., 1st, 7s, 1909
Mo. Pac,.—1st, cons., 6s.
3d, 7s, 1906
Pac. of Mo.—1st, 6s...
2d, 7s, 1891
St.L.A S F.—2d,6s, Cl. A
6s, Class C, 1906
6s, Class B, 1906
1st, 6s, Pierce C. A O..
Epuipment, 7s, 1895..
Gen’l mort., 6s, 1931..
So. Pac.of Mo.—1st, 6s
Tex.APac.—1st, 6s,1905
Consol., Os, 1905 t —
i 16**4 ii'iv
Sand’ky Div.—Inc.,1920
Laf.Bl.AMun.-Inc.,7s,’99
110*4
110*4
100 V 101
100
91
92 V
1
91
90
9034!
95 V 99 V!
*
90
|
Mil. L. Sh.A W.—Incomes
Mob. A O.—lst,prf.,deben.
2d, pref., debentures—
3d, pref., debentures
4th, pref., debentures
N.Y.LakeE.AW.—Inc.,6s
Ohio Cent.—Income, 1920
Min’l Div.—Inc.,7s,1921
101*4 101V1
113 V 114
I Ohio So.—2d inc., 6s, 1921
1
105 V
PeoriaD.A Ev.—Inc.,1920
108
Evansv.Div.—Inc., 1920
102
105
Roch.APittsb.—Inc..1921
99
Rome W. A Og.—Inc., 7s.
98
100
101
......
4*4
60
34 V
So. Car. Ry.—Inc.,6s,1931
St.L.A.A T.H.
Div.bds
*107
A
104
95 V
104 V
FREE LIST.
Cin.ASp.-lst,C.C.C.AI,7s
1st, guar.,L. S. A M.S.,7s
70
33
50
7734 Consol. Coal.—Con v.6s,’97
34
Cum. A Penn.—1st, 6s, ’91
53
2d, 6s, 1888
43*4
50
Income A id. gr.,reg..
Rio G., 6s, Aug. cp. on
ex Aug. cp.
Do
Gen. mort. A Ter. Os..
*44
Pennsylvania RR.—
Pa.Co.’s guaf.4 Vs,lst,cp
*99
t Coupons off.
Leh. A Wilkesb.Coal.—’88
Lake E.A W.-Inc., 7s,’99
Col.C.AIr.Co.—1st,con.,6s
Dos M. A Ft. D.—1st, 6s..
Ft. W. A Denv. C—1 st, 6s
Jefferson RR.—1st, 7, ’89.
110
111
105
*104*4
*102
60
62 V
THE CHRONICLE.
504
EARNINOS
RAILROAD
The latest railroad
earnings and the totals from Jan.-l to
New York City Banks.—The following statement shows the
condition of the Associated Banks of New York City for the
week ending April 18, 1885:
The statement includes the gross
given below.
latest date are
Average Amount of—
earnings of all railroads from which returns can be obtained.
The columns under the heading “January 1 to latest date”
KL.RCkFAt
furnish the gross
the
earnings from January 1 to, and including,
period mentioned in the second column.
Latest
Jan. 1 to Latest Date.
Earnings Reported.
Roads.
1SS5.
1884.
$
300,54 l!
$
273,746
Atch. T. & S. F. February .j 1,064,748 1,107,020
8.017
Boat. H. T. & W 2d wk Apr.
9,159
47,709
Bur. Ceil. R.& No 2(1 wk Apr.
56,758
178.000
81,000
Canadian Pacific 2d wk Apr.
32.810
Central Iowa.... 2d wk Apr.
26,516
I,540,00o 1,472,684
Central Pacific.. March
70.428
65.538
Chesap. & Ohio.|3(lwk Meh
15,367
12,729
Eliz.Lex.&B.S. 3d wk Mch
29,226
29,155
Ches. O. & S. W. 3d wk Meh
2,180,446
117,746
2.339.368
107,835
816,375
1,609,341
732,637
165,113
164,324
1,601,915 1,971.013
Chic. Burl. & Q. February
24,701
27,964
Chic*. & East Ill £d wk Apr.
407,000
433.967
Chic. Mil.A St.P. 3d wk Apr.
408.200 400,800
Chic. & Northw. 2d wk Apr.
125,300
108.400
Ch.St.P.Min.&O. 2dwkApr.
27,060
32.508
Chic. & W. Mich 2d wk Apr.
45,761
45,705
Cin.Ind.St.L.&C. 2d wk Apr.
222,292
230,550
Cin. N. O. & T. P. March
38,319
38,235
Cin.Wash.&Balt. 1st wk Apr
8,978
8,878
Cle v. Akron & Col 1st wk Apr
256,093
272,343
Clev.Col.C.&Ind January
19,620
22,104
Connotton Val.. February..
13,489
13,541
Danbury & Nor. February..
103,583
102,545
Deny. & Rio Gr. 2d wk Apr.
69,100
62,131
Denv. & R. G. W March
6,954
7,423
Des Mo. & Ft. D. 2d wk Apr.
21,505
29,988
Det.Lans’g&No. 2dwk Apr.
19.508
16,800
Duh.&SiouxCity 2dwk Apr.
331,109
324.400
E.Tenn.Va.&Ga. March
15,869
14,787
Evansv. & T. H. 2d wk Apr.
38.233
53,197
Flint & P. Marq. 2d wk Apr.
20.296
19,626
Flor. R’way & N. 1st wk Apr
25,191
Florida Soutk’n. March
17,061
32.539
31,533
Ft.Worth & Den. March
254,134
211,097
Gal.Har.A 8.An. January...
296,665
311,229
Grand Trunk— Wk Apr. 18
6,695
6,685
Gr.BayW.&St.P. 2dwk Mch
95,445
121,676
Gulf Col. & 8. Fe March
211.400
209,456
Ill. Cent, (Ill.)... 2d wk Apr
35,442
30,200
Do
(Iowa) 2d wk Apr.
39,340
40,083
Ind.Bloom.A W.f 2d wk Apr
44,862
40,737
8. & Gulf 1st wk Apr
17,141
31.810
Kan. C. Sp. & M.llst wk Apr
14.811
15,623
Kentucky Cent'l 3dwk Mch
19,548
23.163
Lake Erie & W.. 13d wk Mch
37,021
44,985
Ft.Smith February..
25.638
31,004
L.Rk.M.Riv.A T. February..
51,957
47,100
Long Island
2d wk Apr.
51,211
45.163
L’a&Mo. River. January
39,828
50,666
L’a Western
January...
269,465
268,340
Loulsv.A Nashv. 2d wk Apr.
4,599
5,317
Mar.Hough. &0. 1st wk Apr
111,925
109,252
Mem. & Charles. March
72,000
50,103
Mexican Central 2d wk Apr.
145.143
139,121
Mex. N., all lines March
10.805
10,462
Milwaukee & No 2d wk Apr.
26,400
21,525
Mil L. Sh.& West 3d wk Apr
190,432
143,233
Minn. & St.Louis March
185,275
195,140
Mobile & Ohio.. March
186,737 206,819
Nash. Ch. & St.L March
66.103
31,921
N.O.& Northeast March
N.Y.L.Erie & W« February.. 1,139,740 1,233,409
386,742
341,005
N. Y. Pa. & O. February..
226,096
252,C03
N.Y. & New Eng. February..
129,072
143,765
N. Y. Ont, & W. March
71,704
91,098
N.Y.Susq.&West March
52.639
48,318
Norfolk <fc West. 2d wk Apr.
27,919
26,252
Shenandoah V. 2 wksMcii.
398,613
389,049
Northern Cent’l. February..
978,906
686,427
Northern Pacific March
16,257
17,345
Ohio Central
2d wk Apr.
96,037
105.967
Ohio & Miss
3d wk Mch
43.540
28,122
Ohio Southern.. February
212,050
225,133
Oregon Imp. Co February.
2,165,183
3,594,399
439,921
6,289,000
5,795,683
Week or Mo'
Ala. Gt. South’ll.
1885.
1
I
I
|March
97,303
1834.
$
96,157
j
,
Chicago & Alton 2d wk Apr.
.
347.797
4.507,756
711,547
315,447
1,300,325
301,670
691.600
620,037
512,645
112,710
256,093
42,272
27,650
1,515,758
195,126
99,104
278,868
222,101
..
.
3,635,374 4,092,627
12,524
9,497
2d wk Apr.
246,065
208.200
February..
February.. 1,791,645 2,002,342
956,779
969,622
February..
356,129
360,562
March
68,232
75,578
March
59.767
69.062
March
44,604
57,024
Georgia Pac. ‘. March
121,135! 119,363
Ya. Midland.. March
31,054
38,586!
West. No. Car. March
21,395
1.8,938
Rocli. & Pittsb’gBd wk Apr.
109,696
93,010
Rome Wat.& Og. February
12,640
17.810
St. Johns. & L. C.1 January..
22,429
25,428
St. Jo. *fc West’n. 1st wk Apr
23,507
20,091
St.L.Altou&T.II. 2d wk Apr.
17,344!
14,017
Do (Branches) 2dwkApr.
8,947 j
12,417
St. L. F. S. & W 2d wk Apr.
79,300
79,900
St.L.&San Bran. 3d wk Apr.
19,237
15,067
St. Paul & Dul’tli 2d wk Apr
700, ieo!
575,377
St.P.Min & Man. March
110,695 i
114,412
South Carolina.. March
94,986
65,075
Texas & N. O
January...
16,497
19,271
Tex. & St. Louis. 1st wk Apr
25,500
17,879
Tol. A.A. &N. M. March
1,566,949 1,540,754
Union Pacific...(February
55,306!
75,433
Utah Central
{February..
Peoria Dec.&Ev.
Phila. & Erie
Phila. & Reading
Do
C. & Iron
Richm’d &Dauv.
Ch. Col. & Aug
Columbia A Gr.
...
.
...
Vicksb’g & Mer.iMarcli
Vicksb.Sh. A Pac. I March
Wab. St. L. & P. UthwkMch
West Jersey
February..
Wisconsin Cent’l 2d wk Apr.
36,4981
32,237;
451,675j
56,944!
29.114
33.921
Banks.
*923,620
193,731
1,400,038
418,276
585,564
573,493
475,609
109.506
272,343
42,813
25,737
1,335,929
163,315
92,009
355,018
249,467
969,489
192,393
254,134
276,879
3,168,308
411,466
651,432
691,866
490,165
163,400
97,951
64,646
572,767
45,165
39,828
4,062,647
71,495
351,765
1,102,879
406,100
153,337
279,056
45,609
86.353
4,874,356
67,716
385,049
2.891.369
473.507
634,532
608,714
216,379
148,811
81,470
58,012
537,609
51,211
50,666
3,773,296
73,876
335,816
719,865
413,663
322,080
447,946
137,806
318,194
379,426
560,59
525.786
546,642
183,802
604,306
2,190,214
730,665
2,505,740
820,387
456.516
495,649
230,268
718,989
110,673
793,265
1,809.973
271,845
884,476
88,649
445,174
196,373
275,801
900,042
65,095
215,513
462.265
4,198,142
1,935,79.)
Irving
Importers’* Trad.
N. Y.
County
German-Americ’n.
Chase National...
Fifth Avenue
German Exch’nge.
Germania
United States
Lincoln
Garfield
Fifth National....
B’k of the Metrop..
West Siile
following
1884.
*
421,2:9
238,743
133,641
226,286
143,751
1,250,712
243,582
1,433,750
355,518
65,075
1,312,381
267,331
1,556,535
373,594
65,200
94,986
190.456
47,461
3,238,898
3,072,448
140,375
150,716
114.971
126,528
257,509
88,133
38,047
3,885,363
67 186
25,527
390,470
416,746
13H.486
A Springf. in either year.
450,000
3*56,100
148.300
147.400
187.000
140.400
153.500
83,500
361.400
1,815,000
L. Tenders.
Deposits.
$
s
$
$
1.818.300
1,240.000
1,008,300
2.357.300
1,099,400
3.763.200
13,300,000
19.896.600
4.348.200
6.662.200
2.907.600
5.768.200
4,003,400
1.661.500
3.833.500
9.625.900
3,119,000
3,350,000
2.585.800
2.552.600
1.732.300
3,277,000
4.321.100
6.439.800
1,861,000
23.882,300
23.136.600
1,849,000
925,400
17,676,100
1,100
261,000
*89,20*6
298=800
589,300
173,600
‘*2,*600
487,500
44,000
730,800
895,300
809,000
423,6*00
45,000
5,400
3*60*660
204,700
260,000
447*3*66
3*92,666
103,500
989*966
45,000
2*22*866
180,000
297,000
37,000
45,000
441,800
179,700
220,600
180,000
45,666
180,000
43,800
178,000
133,000
Oirculation Agg. Clear'gs
$
$
Apr. 4 302,757.100 104484400 30,812,500 352,684,200 10.953.800 416,524,824
11 302,098.000 106055300 30,953,600 354,415,100 10,963,500 401,534,492
“
18 301,963,300 107691800 32,186,100 357,937,300 10.913.800 483,510,488
“
Boston Banks.—Following axe the
Loans.
1884.
L, Tenders.
Deposits.
$
$
$
$
Apr. 4 143,282,100
11 144,091.300
“
“
18
144,836,300
totals of the Boston banks:
Specie.
Circulation Agg. Clear'os
$
$
5,219,100 99,242.700 22,470,800
5,074,000 101,632,800 22,585,100
4,470,300 104,130,500 22,627,200
8,804,600
8,286,100
8,342,300
56,634,493
63,006,681
71,962,039
Philadelphia Banks.—The totals of the Philadelphia bant s
are as
follows:
April 4
“
“
11
18.....
Deposits.*
Lawf ul Money.
Loans.
1885.
$
74,987,741
75,020,901
74,761,667
$
$
$
$
72,452,733
73,148,024
74,599,820
7,690,390
7,705,216
7,690,328
41,598,134
45,742,859
45,329,364
Including the item “due to other
Bid.
Securities.
Gen. mort
Bost. H.T.* West.—St’k.
Debentures
Buff. N. Y. & Plula
Trust bonds, 6s
Gout. Cons. Imp. Co
Denv.A Rio Grande—cons
5s
Denv. A Rio Gr. W
Den. R. G. A \V., 1st M.,
Guar, by D. A R. G
Edison Electric Light
Georgia Pac.—(Stock
1st mort., 6s
...
mm.
42
3b
4
50
20
6
550
230
10
197ff
2S0
Cowdry ctfs
250
Holmes..
.
49 b
37 b
45
2b
77 b
|
Bid-
Ask.
14
14 b
2
6
70
60
6
50
16
lb
17
4
3
18 b
60 b
85b
96
18 b
17
St. Joseph A Western
118b
St. Jo. A Pac., 1st mort.
47
2d mot t
108
Kans. A Neb., 1st mort. 106
48
2d mort
Tex. A Col. Imp.—60 p. c..
5b
29
Texas A Pac.—Scrip 1884.
li
33
Old scrip
38
32
New scrip
27s
13 j Tex. A St. Louis—
£0
M. A A. Div., 1st mort..
3b
2
Incomes, a&s. pd
51b’
40
6s, 1st mort., m Texas.. 20
2
Gen. Ist.ld.gr.* inc.as.p.
61
4
lb
Vicksb. A Meridian
3
92 b
1st mort
78 b
54
2d mort
11
12 b
90 !
42 b
9 i
6
Mut.Un.—St’ck trust ctfs
scrip
N. Y. M. Un. Tel.—Stock.
N. Y. \V. Sh. A B.- Stock
North. Pac.—Div. bonds
N orth Riv. Cons.—100 p.c
Settlement, 0s
Sel. R. A D.—1st, stpd ’80
1st mort., stamped 1882
....
95
Keely Motor
!
bi
1
37
50
1st mort
Postal Telegraph—Stock.
1st mort., Os
Postal Tel. A Cable—Stock
Southern Tel.—Stock
1st mort
State of Tenn.—Set’m’t.3s
settlement, os
..
35V
10
48b
18
1st
Pittsburg A Western
90
6
6
5
2d mort
Mexican National
Pref
1st mort
Mo. Pacific—Old stock
hio Cent.—Riv. Div.,
Incomes
Pensacola A Atlantic
1st mort
8b
70
58
68
latest quotations for a
Securities.
Ask.
8b
14b
Accumul. land grant
'
Circulation.
23,801,083
24,055,465
25,130,092
banks.”
Unlisted Securities.—Folio wing are
week past:
*
Bank.AMerch.Tel., IstM.
333,064
9.123.700
9.249,000
3.405.600
1,076,900! 11,211.100
112,0001
2,319.000
744,000; 16,502,200
1.796.700
151.500
134,100! 1.576.300
1,472,600! 20,909,400
278.200
2.571.900
468.500
4.171.400
834,000:
Specie.
95,349
278,421
12,640
10,160.000
Loans.
336.068
190.736
506,000;
1.369.300
totals for several weeks past:
are
106,513
207.405
17,810
12,222,000
652.100
4,943,000
9,155,000 2.247.300
572.800
819.200
441.700
1.766.800
512.400
232,000
421.800
1.637.200
295.200
814.200
142,000
169.900
523.700
643,700
3.514.900
513,000
364.000
1,086,600
370.100
793.200
2.556.600
215.600
2.207.300
305.300
567.800
128.20U
3,018,200
392,000
68,800
1.800.600
277,000
751,000
2,898.000
718.200
215,000
5,016,000
614.500
4.159.100 1.341.600
197,000
319,000
1.860.300
7,099,500
2.426.200
17,498.000
5.281.800
1.818.200
17.517.800
39,000
291,000
1,575,000
98,700
208.600
1,086,400
13.427.800 6.978.700 1,155.900
8.880.000
489.000
7,249,000 2,631,000
732.000
198.000
2,996,000
2,380,000
5.177.800
338.300
4,822,000 1.009,100
4,782.400
18,718,500
912.500
16,889,400
5.315.700
289.800
4,927,000 1.196,000
269.600
1,220,000
1,074.700
361.800
178.200
568.400
2,150,000
1.977.900
301.900
2.419.900
1.891.400
378.800
2.420.700
117.700
540.100
2.448.500
4.152.500
247.300
2.893.700 1,234,500
3.177.300
381.100
785,000
2.673.500
620.0001 2.478.800
150,000
1.734.100
2.105.300
225.200
1.694.200
201.300
2.391.400
67,100
637.500
2.265.600
1.928.900
162.400
435.500
1.660.600
1.110,000
156.100
1.108.100
165.100
230.900
1.271.100
201.800
1.103.900
387.300
3.899.200
844,600
2.841.200
1.717.700
60,500
672.900
1.317.900
325.044
312,763
tion.
301,963,300 107691800 32,186,100 357,937.300 10,913,800
Total
The
65,000
105.500
843,000
244.200
Circulu-
$
1,352,000
444.600
2,693.000
1.139.600
3.469.900
12,361,000
17,181,900
5.526.900
6.211.700
2.387.500
5,430,000
3.776.400
1.418.600
3.177.500
7.541.400
2,434,000
Continental
Oriental
Bowery
623.900
1.743.700
1,002,000
.
Park
North River
East River
Fourth National..
Central National..
Second National..
Ninth National...
First National
Third National...
N. Y. Nat. Exch..
8.272.900
15,059,300
2.754.500
4.924.600
1.706.100
1,123,000
Citizens’
Nassau
Market
St. Nicholas
Shoe* Leather..
Com Exchange...
956,773
216,539
188,341
140,908
...
938,000
1.235.700
Atlantic * Pac.—Stock—
Cent. Div., 1st, old
1st mort
Vet
Rm-. ver
p 68 ssioH.
t Noi mounting lad. Decatur
North America
Hanover
628.000
6.953.200 11,226,100
308.400
2,086,000
M.KAT—Income
Peoples’
488,518
including earnings of New York Pennsylvania & Ohio road.
*Not Including the first six days of January, preceding time when
a
Republic
199,899
752,970
142,563
808,459
2,113,144
3,773,061
127,064
9,019
364,074
Pacific
Chatham
106.814
9,988,596 11,003,593
430,217
3,641,011
1,814,411
996,105
237,165
211,716
170,2 46
4.307.000
Mercantile
other
than U. S.
$
10,313,600
2,563,000
Tradesmen’s
Fulton
Chemical
Merchants’ Exeli.
Gallatin National..
Butchers’ A Drov..
Mechanics’ A Tr..
Greenwich
Leather Manuf’rs.
Seventh Ward....
State of N. Y
Americ’n Exch’ge.
Commerce
Broadway
395,145
5,959,231
5,600.458
211,097
4,378,739
52,251
Tenders.
2,278,000
3,371.000
2.501.200
3,114,000
765.100
3.617.600
11,867.000
8,459,000
7.152.800
8,236,000
City
3,619,233
694,016
....
Net Deposits
Legal
Specie.
$
133,948
262,363
2.240,702
506,457
282,789
78,927
79,776
Loans and
Discounts.
New York
Manhattan Co
Merchants’
Mechanics’
Union
America
Phenix
946,859
383,111
4,325,040
756,328
145,137
..
Pennsylvania... March
[Vol. XL.
ll
March 10,1885.
ofbanks.
Di
j
No.
f Maine
N.Hampshire.
£ Vermont
& Boston
®
Mass., other
W Rhode Island.
..
71
48
50
54
195
63
87
1,511,810
7,071,000]
50,950,000] 11,321,141
45,067,9(0: 13,5 <2, ( 55
20.540,050! 4,029,2 >0
f New York City
46.250,000i
1,750.000
34,714,160
22,439.264
12,103,350
18,058,000
10,150,000
32,050,340
3,761,639
9,388,303
3,501,814
9,397,967
58,023,087
Albany."
5 N. York, other
Jersey...
t New
g Philadelphia..
5 Pittsburg
g
Peuna., other.
(. Total Div.No.2
44
0
200
70
33
23
223
25,856,820]
005 155,075,850
1,150,000
8,814,100
$
16,742,572
139,029
315,324
4,415,333
4,535,747
8,177,959
10,327,261
43,920
131,428
114,929,931
82,608,209
30,524,145
305,795
40,346,387
.130.091
70.142,201
46,232,756
11,9 7 7,3 69
22,678,677
256,431
169,114,874
1,322,008
209,542,508
5,985,344
625..07
85,412
77,430,641
28,885,815
20,319,785
58,453,050
643,398
195,570
236.434
247,595
377,364
466,190,005
2,411,280
3,284,568
18,374,491
4,962,973
3,184,413
47,894
111,618
65,572,832
Gold
| Gold mid
finery j y old
overdrafts.)
$
*
9,132,728
$
2,460,665
1.195,189
10,300,000
0,105,000]
2? Connecticut...
©
Other.
Individual.
6,820,3 / 4
508 167.150.370! 40,930,594
1 Total Div.No.l
Loans <f- d iscounts,
'
$
rg
posits.
Surplus.
Capital.
$
553,310
187,986
$
]
4.050|
1,500'
3,700,902! 4,327,430;
344,662'
826,731
23,172
7(15,529
282,967
6 .8,856
731,770 26,362,546
50
459,860
27,380 4,10-!,640
21,04 0 1,853,971
564,041
2,751.306
29,2.'6,623
834,978
62,075,221
25,370,192
64,650,468
8,875,797
941,900
315,970
392,570
71,000
1,913,021
2,992,212
484.459.203 45,044,
133.020
L30j
3,932,513
195,583
233,472
4,605, lul
3,772.093
109,081
4,453,865
17,923
282,000
3,602.983
3,455.526
810,868
2,843,804
425,000|
18.400
875,318
3,525,000;
100,000!
10,991,687
85,594
8,308,815
5,110,300
1,257,132
7,000
1,916,160
160,585
795,601
1,909,969
1,079,920
184,565
182,414
236,648
24,929
153.S59
21,712
293,761
i Total Div.No.4
243
38,196.100
9,625,981
56.505,393
[ Cincinnati....
12
8
184
89
12
150
5
97
3
47
8,600,000
6,200,000
22,044,000
11,734,500
11,150,000
13,296,500
2,650,000
10,075,100
1.170,500
1 Total Div.No.5
607
90,195.100
19,606,698
11,939,098
8,482,997
30,778,960
18,401,854
34,311,167
27,806,540
6,999,066
16,66 >,842
3,874,932
9,594,175
168,854.631
[ Iowa
124
10,167,400
11,283,181
2,278,090
16,439,982
1,799,759
16,336,122
5,065,374
5,927,698
7,883,643
9,766,711
2,863,802
64,283,332
{. Total Div.No.3
2,401,000
517,497
778,000
855,791
North Carolina
South Carolina
Florida
S Alabama
fc Mississippi....
<-
New Orleans..
Louisiana, oth.
P Texas
£ Arkansas
Louisville .. ..
Keutuoky.oth.
j Tennessee
1
j
«
2
Cleveland
Ohio, other
..
..
...
Indiana
£ Chicago
g Illinois, other.
•
*
©
Detroit
Michigan,other
Milwaukee....
^ Wisconsin,oth.
g
u
Minnesota
50
6
35
62
65
39
....
St. Louis
5 Missouri, oth’r
»
Kansas
£
Nebraska
^ Dakota
1
1,935,0001
14
15
4
10
5
8
1
65
5
9
59
33
Georgia
2,436,0001
200,000j
6,551,800|
505,000!
3,551,500
9,020,500
Arizona
Colorado
®
Idaho
Sj Montana
New Mexico
..
fit Utah
g Wyoming
t.
Total Div.No.8
768,948
467,923
7,302,720
25,000
228,850
499,780
76,000
114,530
944,160
2,050,0001
710,000;
8
15
980,000!
39
5,315,000j
1
50,000!
21
1,965,0001
4
250,0001
14
8
5
5
1,735,000
61
507,378
1,500,000;
1
14
Total for U. S... 2,071
875,859
342,874
75,000!
f
1,962,894
340,000
637,748
“1
Washington T.
1 Total Div.No.7
260,000
3,250,000
f Nevada
Ban Francisco.
g Oregon
4,510,812
2,964,716
2,890,000
4,089,917
3,265,000
4,038,905
4,815,000
2,240,000
39,109,486]
California,oth.
545,000
650,000
3,795,000
378
m
-
1,835,000|
Total Div.No.6
®
505,893
650,000
600,000
800,000
6,050,OOoj 1,834,8.6
524,255,15li 145,907,800
OF
THE
Jk.
•
o
C
3
:§•§
Due to
depositors
Due to banks
Other liabilities
Tota’R
892,000
2,672,646
1,869,134
6,445,812
2,234,251
573,670
755,545
405,377
410,870
18,775,040
0,960
89,728
3,9 40
1,022.220
1,567,234
284,470
45,340
1,750
136,980
41,670
10,720
205,222
171,849
36.280
25,017
71,528
79,267
35,990
6,4101
94.960
45.037
8,290
4.230
1,353,505
619,978
832,536
429,397
832,484
524,224
290,142
692.880
142.920
4,882,206
53,888
17,930
170
760
2,279
126,117
8,462
18,860
155,090
711,587
78,021
342,103
83,107
12,239
87,417
1,314,474
996,014
1,300,842
856,230
265,548
374,374
889,872
127,166
4.810,646
40
245,920;
386
1,913
14,460
34,927
150
499,500
1,144,840
438,309
3.650
15,000
39,480
4,280|
1.865,374
11,494,119
267,963
30,168
34,859
2,384,539
135,288
50,473
29,700
737
6,998,623
781,961
17,846
Mil's.
Mill's.
5,356
500
1.754,345
58,740
175,1 59
23,920
4.016.565 1,232.327.4 >3 S3,160,463
70^250.80uj
18,399.442
1
996,501,647
NATIONAL
BANKS
i
.3
-2
Mil's.
?
•
1
•39
132,706
v
j
A/
.
Mil's. Mil's.
Mil's.
•07
©
il
s
©
5
2*
8-03
2-23
2 00
o
S
k
8
Q
2
3
5
s
1
%
4
Mil's. Mil's.
Mil's.
8‘17
3-21
8-01
1"75
581*65
•93
■89
•50
•70
•00
79-79
14-40
670 78 1.232-33
31311
1690
3142
•91
1-45
•50
1-15
•53
•50
•50|
•97
•29
•90
•49
1-61
•09
•43
•40!
-43
2-44
•74
4-32
2-62 1140
2-80
117
1-89
•33
•37
•40
12
•22
•72
•20
•09
•12
•20
•09
•29
•37
•39
•59
6 77
•86
•00
*Sft
•48
‘OS
•03
•10
•11
*43
20-96
30 28
6 7 84
•02
2136
•01
2 "52
6 07
3'20
1-20
40-88
7'54
30 13
14-99
117
-19'
1
•
*
....
•07
•L7
•10
....
•
01
•
•
•
•it
•02
•03
01
01
-10
•02i
-12
•03
0'5
•10
•18
•01
•02
•15
3T>0
V90
1-72]
1-53
1 "0D
•38
1-40
•88
5 M2
•57
•41
•15
•73
•43
’5S
-23
•05
•43
•27
•09
•02
•24
3S-21
•10
624
•77
•04
•11
•48
S-30
1-08
534
1*21!
2-58
•90
•31
'42
•00!
....
•11
•29
•10
1-18
2'76
104
•02
•S3
18
....
•07
•48
•33
•so;
-03
•10
•14
•28
•03
•12
•00
•03
•04
■03
•15
1-03
•38
•21
•19
•IT
*20
•09
■2)
13
•18
•01
*10
•01
1144
7 3) 1517
330
5-53120
....
31 11 14 35 70 1844 7651 14-49
•12
.
.
•
132-21
2874
.
49-70
5S'80
1
2852
2-41
57-91
•04
22M9
4'4o
•20
75*15
220*48
4 7 "23
27-87
88-25
....
—
03
..
....
Millions.
233-32
•52
■14
43929 13-67 12002 44-57 13-41
Mil lions.
•05
•00
7-23
e
s
s
Mil's. Millions.
7*73! 17-90 11-19 4 3 05
Mil's. Mil's. Mil's.
■§!
JS
(S!
•w
Mil's.
•28
•02
£
5
6-08
■
•
©
Mi
3-03
•73
'48'
1
,3
6
*8
~
l
9,188,0(04.516.490 93,777.322
£
s
s
870
RESERVE CITIES, AND TOTALS.
•3.
6J-0S 25-37 25-39 i
943 7-0,8 6-17
6-70
17-58
463,701
141,058
175,849
.
5
c
•23
•50
THE
OF
29,310
rA
6111
1-23|
353,258
5,271,696
1,322,069
1,214,143
1 ,o4 9,737
16,759,h8v
776.9-0
•52
1-28
2-28
9,110
2,430
-73
Due from U. S. Trcas..
3.330
8.610
1-81
6-48
1*89
233,160
19,223
50,390
1,206,736
1,429,892
1-43;
Cleari >g House etch’s.
U. S. ctfs. of deposit....
41,720
850
10,080
182,894
89,047
2-81
211
1-39
Circulation
29.890
100,000
14,335
40
161*, 8*74
1,468,669
•28
1 s-oo
profits
70,190
650
4,854,597
2-90;
3-45
1-59
Undivided
40,6401
429,300
540
3-30
National bank notes....
33,590
62,680
108,800
9,500
11-50
*73
2,515,735
11,260
2,721
47,016
32.289
2-70
•83
20,450
74,509
3G8,417
274,825
167,363
267,030
69,520
378,890
457,298
78,430
17-41
10-10
10 25
•19
58,644
1,099,212
7,660
343,165
454,826
*20
•17
Liabilities.
61,187
8.923,556
*28
Silver coin
Capital stock
Surplus fund
421,091
•03!
793-40
5,740,420
1,921,313
4Ci,09i
•20;
Silver certificates
resources
220,312
1,746,700
"35
G jld coin
Totals
85,515,612
l-oi
Gold Treasury cert’s...
Gold Clear. House ctfs.
Other
1,824,380
•45
3'70
Legal tender notes
117,676
7,162,797
8,<31,07 5
13,011,331
3.446,795
4'29
2-97
5,767,910
158,030
110,000
71,210
81,366
285,322
395,621
•30
2207
564,320
1,236,7 79 2,249,660
387,614
586,945
19,954,026
21,579.143
8,630,445
•10
Real estate
163,290
17,900,738
321,560
396,456
196,379
1,651,830
6,195
81,450
204,643
300,330
91,976
332,295
97,662
244,858
47,503
34,133
2,886,864
4,431,362
436,187
3,070
192,120
38,060
7,360
14,480
72,525,213
39,096
382,140
79,620;
41,650
6,773,839
1,768,499
853,84s
1,301.6 S3
603,811
9,047,146
787,391
205.766,995 16,542.130
770
1,320
77,490
119.700
34,610
119,388 1,531,730
243
2,075,820
1,397,680
6,595,662
103,496
74,409
3 77,458
450,977
510,737
0-71
14-21
*23
254
12,876
24.518
40,559,088
22,393,136
43,045,047
29,214,180
8,170,644
21,('35,561
3,207,948
402.580
182,568
231,029
773,258
457,796
7 21
Stocks, bonds, &c
95,759
126,8S6
10,750
19,500
33,580
58,901
11483 214-28
13-81
25*83
Other U. S. bonds
Due from banks
Mill's.
900
03,880
189,859
K
Mill's.
508,844
43,265
366,524
73(3,549
1,221,513
4,090
740,910
550,509
400,387
2.000
368,826
616,068
80,500
785,396
260,355
179,210
28,500
10,490
11,140
920,739
7,747,®52
15,053,997
11.461,722
11,193,507
4,305.061
11.840
115,073
37,789
37,350!
5,000 j
8,050)
1,050;
179,456
10,890
159,650
98,787
19,424
10,040
195,100
40,000
10,020
123,514
12,229,783
870,000
492,662
10,090,558
71,672
154,959
431,600
85,176
2,192,267!
5,605,722
2,269,528
1,193,374
68,080 2,595,385
3,888,534 1.158.880 48,069,524
74,796
793,652
351,167
278,823
803,936
134.000
O
Bonds for circulation..
9,180,404
266.250
K?
Resources.
8,681,060
136,557
■
8,100,947
984.500
20,000
292.500
137,576
.2
Loans
2,574,250
445,063
89,517
03,248.180
278,590 10,726,773
31.970 1,962,349
137.905
*
STATEMENT
Totals for Re^e.ive
Cities, &c.
443,131
1,102,702
2,914,172
6,230
229,040;
7,213,720
82,629,207
1,547,034
6,739,734
113,632
4.847,339
1,643,443
489,187
7,590,775' 4,024,080 j
3,616,272
23,103,245
191,930
2 7.720
105,449
161.873
214,283,772 27,8-2,775 01,1 l-l.O-'Uj
303,556,263
52,250,059
21
110
676,124
10,174,862
2,465,981
43,063,412
1.380
777,505
667,197
^ West Virginia.
60,000
1,332, U3
3,c()0
8,217,356
59,160
326,322
183,627
1
59,190
54.736
166,405
330.704
3.180
231,664
24
Virginia**-
$
192,560
1.160
23.-5,200
11,407,475
g
Dist. Col., oth.
K
780,521
304,500
$
983,342
434,021
...
11,713,290
2,6 Jl,700
1,125,000
252,000
3,546,300
2,011,000
..
$
53,218
205,457
132,930
1,024,933;
73,664
Maryland, oth.
Washington
r&
*0
..
123.3 10;
24,730
1,572,555!
516,746!
194,931
Baltimore
lo.ioof
201,367 i
25,393,280
5,625,244
2,056,913
f Delaware
©
Leg. tend’r 8
dc tl. S. ctfs.
ccrtijic'tes of deposit.
Treasury
cerliji cutes.
142,734!
670,000
3,086,710
1,823,985
Silver
Silver.
Treasury
C.H. ! cert
ideates
3,919,311
15
17
27
5
MARCH 10, 1885.
OF THE NATIONAL BANKS MADE TO THE COMPTROLLER
ABSTRACT FROM REPORTS
.
505
CHRONICLE.
THE
April 25, 1885.]
7025
24-38
9-19
4*52
71-01
2253
59*08
2276
15*11
3297
•07
10 71
2 1 -53
l,065-40! 1.217 37 2.312 77
.
.
50-9.7
4625
2244
10-09
11-33
4‘6'J
1 113
2295
70-27 210 17
3314 139 03
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115
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3-50
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1-71
113
3 09
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120
1 -30'
-04
•49
5-19
6581 20 5T IS-43
16-00
314 302
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1*97
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2-74
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620 1115
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205
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2287
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1A-14 05-70 1^-44 •yo-'u
....
1 4-49
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483M9
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«
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iy-87
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312-77
THE CHRONICLE,
506
[Vol. XL.
The roads operated, main line, branches, and tributaries, under lease,
aggregate about 4,750 miles, the gross earnings of which (exclusive of
land sales and income from sinking funds and investments) were in
round numbers in 1883 $34,500,000 and in 1884 $30,000,000.
*
* *
(Signed)
Leland Stanford, President.
%wv«stwzw1
iND
%xit&X\iQZVLt&.
New York, March 31. 1885.
Southwestern (Gould) Railroad System.
complete exhibit of th e
(For the year ending Dec. 31, 1884.)
Funded Debt ofStates and Cities and of the Stocks and Bonds
From the annual report just issued the following informa¬
of Railroads and other Companies. It is published on the
last Saturday of every other month—viz., February, April, tion is obtained. The report says :
“
The principal cause of the decrease of gross earnings was
June, Augustf October and December, and is furnished with¬
out extra charge to all regular subs cribers of the Chronicle. the general business depression throughout the entire country,
Extra copies are sold to subscribers of the Chronicle at 50 although floods and failure of crops in certain districts, together
oenU each. and to others than subscribers at $1 per copy.
with increasing local competition contributed to the same
results. The gross tonnage moved nearly equaled the amount
ANNUAL REPORTS.
or the previous year, indicating that the development of the
country was progressive, although the decrease in the higher
Southern Pacific Company.
classes of freight and the increase in competition reduced the
This corporation has lately come into prominence as the les¬ average rate received/’ * * *
see of the Central Pacific, and as the controlling company which
“In the State of Texas the cotton, and the grass crop in the
holds most of the stock of the railroads between San Francisco central, southern and western portions of the State, was a fail¬
and New Orleans. It must always be remembered that it is ure, by reason of the drought, the cotton movement of the
not the Southern Pacific Railroad Company of California, &c. past year aggregating only 976,170 bales, against 1,159,780 bales
The rental of the Central Pacific road may be applied to pay¬ in 1883. The grain crop was generally above the average, but
ment of its floating debt, as heretofore stated by President the low market price retarded its movement to market and
Stanford in his telegram to London. The floating debt of the prevented the producer from purchasing in return those arti¬
company has been held mostly by its friends and managers, cles which constitute the most profitable tonnage for trans¬
and the first rental of $1,200,000 will be due on May 1, 1886, portation. The same causes decreased the revenue from pas¬
and whatever is not then applied to the floating debt will pre¬ senger traffic.” * * *
The gross and net earnings and expenses of the properties
sumably be paid as a dividend. The rental, however, will be
subject to any new demands of the U. S. Government arising separately, compared with the two previous years, were :
from future legislation.
The stockholders of the Central Pa¬
m
2 5zs
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cific Railway will not be asked to vote upon the lease of their
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road to the Southern Pacific Company, and Wall Street will
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be apt to draw the conclusion, whether correctly or not, that
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the Huntington party has sold out most of its Central Pacific £ a
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ownership of any stock, and has much the same effect as the O 00
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lease of Wabash to Missouri Kansas & Texas, or the old leases
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The Investors’ Supplement contains
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FIRST ANNUAL REPORT.
To the Stockholders of the Southern Pacific Company :
I have to report tliat, pursuant to the powers and requirements of the
charter, organization was duly effected on tlie 11th day of August, 1884;
and that one million dollars of the capital stock was subscribed and paid
in. The capital has since been tixed by the directors at $100,000,000.
The amount disposed of, the proceeds of which have been used for the
purchase of obligations of other companies, is $85,037,300.
The stocks and bonds of certain companies enumerated below have
been acquired from the owners, on terms which seemed to the directors
.
reasonable and equitable. The privilege of .conversion is still being
availed« f, and it is believed all, or neatly all, stockholders will come in.
The company now owns, and has in its treasury, the following assets,
which comprise substantially the entire ownership of the lines:
Ao. of
shares.
Total stock of
Name of corporation.
433,C4(j12 So. Pac. Hit. Co.of California..
190,900
So. Pac, RH. Co. of Arizona....
66,888 So. Pac. HR. Co. of New Mex.
40,627
Mor. La. & Texas HR. ASS. Co.
258,120
Gal. Harris. & San An. Iiy. Co.
39,840 Texas & New Oilcans Ry. Co..
Louisiana Western RR. Co
26,880
33,377
MexicanlnternationalRR.Ce.
1,099,272^
Par value.
$43,361,050
19,990.000
6,688,800
4,062,700
25,812,0; 0
3,984,000
2,688,000
3,337,700
$109,927,250
Total
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$14,039,100
19,995,0. O
6.888,800
5,000,000
27,085.H O
5.000,000
3,360,000
4,922,100
$116,290,100
Contracts have been entered into with each of the above-named
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Gulf ports, for
a
The road leased from the Southern Pacific Railroad Go. of California
does not include tlie Colorado division now operated under lease by the
Atlantic & Pacific Railroad Company.
The lessor companies are to receive as rental percentages of the entire
surplus net profit accruing to the lessee, distributed annually in the
following proportions:
Fcr cent.
26^
12
4
,
*
Morgan’s Louisiana A Texas Railroad A S. S. Co
Total
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will be found in the statements following :
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MISSOURI
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LEASE OF THE CENTRAL PACIFIC RAILROAD.
In addition to the foregoing lease of roads between San Francisco and
New Orleans this company has entered into an agreement of lease with
the Central Pacific Railroad Company for the use of its entire road
branches and dependencies for a period of nicety-nine years from and
after April l, 1885, taking over the agreements of lease which it had
with certain roads in California.
Under the terms of the present lease
(which were deemed to be fair and reasonable in view of existing con¬
ditions) this company, in addition to the payment of all ordinary ex¬
penses, interest upon funded and floating debt, and the existing sinking
und and Government requirements, also guarantees a minimum rental
$1,200,000 per annum (which may o < increased, if net earnings of
leased road justify, to $3,600,000.)
*
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period of ninety-nine years, from the first day of March, 1885. In con¬
sideration of the benefits to accrue from the lease this Company agrees
to maintain the roads in good order, add to and better the same, as may
be necessary, to pay all the ordinary expenses, fixed and other charges
against them, including the payment of interest upon their bonded
indebtedness and sinking fund requirements.
Southern Pacific Railroad Company of California...-..'.
Southern Pacific Railwaj- Company of Arizona
Southern Pacific Railroad Company of New Mexico
Galveston Harrisburg A Sun Antonio Railway Company
Texas A New Orleans Railway Company
Louisiana Western Railroad Company
M
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to
panies for the lease of their respective railroads and their appurtenant
property, so as to form one continuous through line between San Fran¬
cisco and New Orleans, with the addition of efficient steamship lines
between New Orleans and New York, and between
©
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1,110
LEASES.
i-i
©
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p
Bonds.
Galves. Harris. A San Antonio,
Western Division,6 percent.
1,110,000—$111,037,250
This company has issued no bonds, and has incurred no debt or obli¬
gations beyond the month’s current pay-rolls, supply bills and engage¬
ments incident to operating its leased roads and water craft.
H
XXX
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company.
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of the ek vated railroads in New York to the Manhattan Co.
Nothing has appeared recently in the newspaper comments as
to the laws of California in regard to railway leases, whether
or not a vote of stockholders is necessary to ratify them.
A circular report has been issued by the President and is
condensed as follows:
13
!B
M
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03
ffi
.•MIC CD ffi
the past two years
PACIFIC.
INCOME ACCOUNT.
1882.
18S3.
1884.
Receivts—
Net earnings
$3,769,730
Dividends, Ac.
Total net income
700,552
439,661
$4,470,282
$4,614,927
$4,491,572
Disbursements—
Interest on bonds
Dividends paid...
Rate of dividend
$1,598,390
1,946,419
$1,667,880
2,097,348
$1,798,200
2,098,105
Taxes, rentals, Ao
348,068
420,296
775.036
$3,892,877
$4,185,524
$4,t> 41,341
Total disbursements
B ilance for year
6^
$4,175,266
7
$4,284,750
206,822
7
sur.$577,405 sur.$429,403 def.$179,769^
April 25,
THE CHRONICLE.
1885.]
8T. LOUIS IRON
MOUNTAIN & SOUTHERN.
business between the terminal points of the several original
constituent parts of the consolidated line was accounted
INCOME ACCOUNT.
Receipts—
earnings
Otlier receipts
Net
Total net income....
Disbursements—
Interest
on
bonds
T3nxes,br’geand
car ex., &e.
Total disbursements
1882.
1883.
1834.
$3,735,622
102,892
$3,690,120
95,054
$3,464,599
44,727
$3,838,514
$3,785,174
$3,509,326
Under the new
returned as “local,”
except that passing to and fro between the western terminus
of the Union Pacific proper at Ogden, and its several eastern
$2,248,979
499,663
$2,259,193
479,486
$2,206,854
554,093
termini at Omaha, Council Bluffs, Kansas City and Leaven¬
worth. Pacific coast business includes all business to or from
“through” and all other business “local.”
rule adopted in 1884, all business
MISSOURI KANSAS & 'TEXAS.
INCOME ACCOUNT.
Receipts—
Net earnings
Dividends, &c
1882.
1883.
1881.
$2,265,478
206,763
$3,197,007
146,207
$2,970,004
457,419
$2,472,241
$3,343,214
$3,427,423
$2,373,822
191,059
$2,492,517
479,200
$2,439,618
479,661
$2,569,881
def.$97,640
$2,971,717
sur.$371,497
$2,919,*279
sur.$508.144
881
Total net income
Disbursements—
Interest on bonds
a
Taxes, rentals, &c
Total disbursements
Balance for year
....
INTERNATIONAL & GREAT NORTHERN
INCOME ACCOUNT.
Receipts—
1882.
1883.
Net earnings
Other receipts
$1,006,900
Total net income....
Disb ursemen t$—
Interest on bonds
$6*24,722
67,072
$1,073,972
$988,909
$653,693
$1,119,657
$914,417
65,688
$909,785
116,417
$1,185,345
$1,025,202
$L,059,707
Taxes, rental, &c
Total disbursements.
Balance for year
def.$lll,373
....
1881.
$954,252
34,657
def.
$36,293
:
28,971
GALVESTON HOUSTON & HENDERSON.
Delicit in net earnings..
Disbursements—
Interest on bonds
done over the main line is, therefore, the source to which the
holders of this aggregate debt of $82,396,250 must look for
payment of interest, and the security of their principal.
The Union Pacific system is composed of the roads of the
Union Pacific Railway Co. (1,831*90 miles) and certain
auxiliary
lines (2,644*51 miles). It has a total length of road of
4,476*41 miles.
EARNINGS AND EXPENSES.
The
earnings and
expenses
1893.
1881.
$55,460
$28,860
$75,000
2,405
$100,000
for the year have been
Union
Pacific
Railway.
$17,970,970
145,290
def. $406,014
was
points west of Winnemucca, a station on the Central Pacific,
419 miles from Ogden.
On this basis the Pacific coast freight
in 1884 was $1,695,000, out of total freight earnings of $11,312,708.
The development of local business as compared with
through
business has a peculiar interest in connection with the Union
Pacific Railway Co. proper, arising out of the Government
lien attaching to the subsidized portions of its road. This lien
now represents a debt,
principal and interest, which will ma¬
ture in the years 1896 to 1899, of $48,864,250.
The lien is in
the nature of a second mortgage, the company’s first mort¬
gage bonds having a priority.
The revenue from the business
$2,738,679
$2,748,642
$2,760,947
sur.$l,089,S72sur.$l,046,495 sur.$748,379
Balance for year
507
Gross earnings
Operating
expenses
and taxes...
Net earnings
Expense ratio
per
9,100,085
follows:
as
Auxiliary
Union Pacific
Lines.
System.
$7,820,229 $25,791,199
6,012,967
15,113,053
$8,870,884
$1,807,261
$L0.678,146
50*64
76-89
58-60
cent
Operating expenses and taxes wrere $786,348 less than in
During the first six months these items showed a com¬
8,815
parative increase of $605,852; during the last six months the
Total disbursements
The saving was effect¬
$77,405
$108,815 comparative decrease was $1,382,200.
Total deficit on operations
$132,805
$137,675 ed wholly in operating expenses, as the taxes were exception¬
Rental from Int. & Gt. Northern
63,350
60,28L ally heavy.
The largest decrease in expenses was in motive
power, $703,503; maintenance of cars shows a decrease of
Balance, deficit of income.
$69,509
$77,39-1
$113,839; maintenance of way and renewal of rails, a decrease
LAND DEPARTMENT.
of $413,638; conducting transportation,
an increase of $420,“The operations of the land department of the Missouri 030, and general expenses and taxes, an increase of
$24,602.
Taxes, &c
Kansas & Texas, St. Louis Iron Mountain & Southern and
Tex. & Pacific railways are exhibited in the table below. The
lands of the Mo. K. & Tex. RR. are practically all sold.” * * *
“The lands of the St. Louis Iron Mountain & Southern R’way
remaining unsold on Dec. 31, 1884, comprised : Lands in Mis¬
souri, 114,166 acres ; lands in Arkansas, 895,652 acres ; total,
1,009,818 acres, from original grants of 1,508,173 acres. The
lands of the Texas & Pacific Railway remaining unsold on
Dec. 31, 1884, amounted to 3,965,025 acres, from original
grants of 4,924,851 acres.
“While the sales of lands'in Missouri and Arkansas were
smaller during the past year than in 1883, the sales in Texas
have been larger than those of any previous year, aggregating
551,473
acres, at an average
at an average price of
price of $3 08, against 205,693
acres
$2 68 sold in 1883. Of the lands
in Texas remaining unsold, one-fourth may be classed as
desirable for agricultural purposes, and the remainder for
grazing purposes only. The sales for the past year were
largely of grazing lands, a class which is rapidly appreciating
in value and demand.
Mo. Fan. r-Sl.L.Ir'n Mt.&So.—.
<£• Texas.
Mo. Die. Ark. Div. '
Total No. of
acres
originally
No. of
acres told during 1884.
Average price per acre, 1884..
No. of acres unsold Dec. 31,’34
Tota lam’t of sales, including
Cash received during 1884
Notes received during 1884...
L’nd gr’nt securities East. Div.
T. & P. Ry. rec’d in payment
of land purchased 1884
-
Texas <6
racific.
4,914
1,564
$3 47
$4 10
2,078 114,166
31,242
$3 26
895,652
551,473
$3 08
3,965,025
1883.
UNION PACIFIC
during the
11,821
3,289
94,945
92,796
67,407
937,740
753,736
Union Pacific Railway.
year,
without deducting taxes,
published
follows:
as
were as
Aver, miles
Road.
Gross
operat'd.
1,831-90
Union Pacilic RR
Omaha Sr. Republican Valley RR.
Omaha Niobrara & Blk Hills R..
Colorado Central Railroad
Echo & Park City Railroad
Salt Lake & Western Railway
Denver South Park <fc Pac. Rwy.
Utah & Northern Railway
Oregon Short Line Railway
Greeley Salt Lake
Pacific Rwy.
Lawrence & Emporia Railroad...
Junction City &, Ft Kearney It...
Solomon Railroad
Salina & Southwestern R’way...
Denver & Boulder Valley RR
Golden Boulder & Caribou RR...
Kansas Central Railroad
Georget’u Breckenr’e & Leadv’e..
Montana R., Stuart Branch
Total
Taxes
Net
earn'qs.
$17,970,970
234-15
57*50
320-70
461-96
595*83
53*89
668,744
186,654
1,492,142
115,162
99,089
1,191,069
1,998,576
1,059.199
84,884
31 *00
41.879
99-28
327 07
32 27
earn’ys
$9,546,044
231,709
74,082
584,480
55,556
59,281
def.233,477
921,327
362,946
3,652
def.7,733
79,921
71 87
198,703
57*04
139,596
36*00
27*00
71,562
100.433
30,821
22,903
6*10
167*33
25,028
283,267
5*55
3 71
def.69,223
13,744
44,491
29,256
4,420*20
$25,791,199
.
.
68,818
15,462
907
$11,776,739
1,098,592
.
Surplus earnings, taxes deducted.
$10 ,678,146
LAND DEPARTMENT.
The land sales
previous
111,431
11,496
SYSTEM.
The gross and net earnings of all the roads for ’84
year.
during 18S4 were larger than those of any
The net proceeds of tlie land grant sales since
the consolidation of 1880 have been
Tear.
as
follows
:
Union Pac. L. G.
1880
1831
Kan. Pac. L. Q.
$779,733
467,343
1,01.6,100
2.643,991
1884...
6,599,126
$268,417
313,012
321,890
948,413
1,831,549
{For the year ending Dec. 31, 1884.)
All the agricultural lands in the Union Pacific land grant
The voluminous report of this company was received last have now been
disposed of; the estimated acres of grazing
week too late for comment.
Remarks upon some of the land in
that grant remaining unsold are 2,267,440, and of aria
interesting features of the report will be found to-day in the lands, 1,8C0,000 ; the total being estimated as worth $1,633,editorial columns of the Chronicle.
The main statistics of
income and balance sheet have already been given (see issue
of March 28, p. 391), and statistics are also published in the
Investors’ Supplement of this date, on p. 84. The report is
630. There are estimated as unsold of the Kansas Pacific
land grant, 4,153,012 acres of grazing lands and 661,119 acres
of agricultural lands, the total value of all being estimated at
$11,969,066.
particularly valuable in giving a full account of all the
The trustees of the Union Pacific Railroad land grant mort¬
auxiliary lines of the company, with their earnings, expenses gage have in hand in cash and contracts the sum of $12,549,and balance sheets, and thus unfolding a large chapter of
449 (of which $2,210,797 was cash) with wrhich to redeem
Union Pacific history which was never before accessible to
$3,360,000 land grant bonds outstanding.
The balance, or
the public.
The following information, condensed from the $9,189,449, with the annually-accruing interest on contracts,
report, will be found interesting.
is applicable to the retirement of the $14,621,000 sinking fund
THROUGH AND LOCAL BUSINESS.
eight per cent bonds.
In the beginning of the year 1S84, a new division of traffic
as “through” and “local” was adopted, both for the Union
GENERAL INVESTMENT NEWS.
Pacific Railroad proper and for the whole system. Prior to
1884 all business
between Council Bluffs
east, and Ogden on the west,
was
and Omaha
the
accounted “through” as
Leavenworth
other words,
well as that between Kansas City and Denver,
and Lawrence, and Denver and Cheyenne.
In
on
Central Massachusetts.—A committee has been appointed
by the stockholders of this
company
to consider its financial
condition and make whatever plans may
be possible.
THE CHRONICLE.
508
Chicago St. Paul Minneapolis & Omaha.—The annual
report of the Chic. St. Paul Minn. & Omaha Railroad Company
Operating expenses
Net earnings
Interest
Balance
Rentals arxl loss in
*
$5,734,931
4.007,022
$5,515,284
$1,777,909
$1,777,909
operating propr’y roadsi
$1,891,457
1,068,747
Total net income
Dividend 7 per cent on
651,124
preferred stock
787,976
$470,893
$2,123,753
*
for the control of the preferred stock
secured.
New York Stock
Exchange.—The Governing Committee
of the Stock Exchange lias approved the recommendations of
the Committee on Securities to list $217,000 divisional bonds
of the East Tennessee Virginia & Georgia, making the total
$2,867,000, and $2,000,000 of the first mortgage 6 per cent
England Railroad Company,
47,921
making the total $10,000,000; $2,500,000 of the sinking fund
$774,799 sixes of the Atchison Topeka & Santa Fe Railroad, making
547,777 the total amount out $12,348,000, and $387,000 of the ten-forty
sixes of the Louisville & Nashville Railroad Company, which
$1,322,567
The old stock of the
770,476 brings up the total issue to $3,000,000.
Mutual Union Telegraph Company was stricken from the list.
$322,711
$669,983
62,239
$607,744
Balance
Land sales
will pay
3,623,827
1,107,925
which
already
$2,500,000 collateral trust certificates, the proceeds of
1883.
1884.
[Vol. XL.
$552,091
$1,652,860
issue
bonds of the New York & New
New York West Shore k Buffalo.—In Philadelphia the
holders of first-mortgage bonds of this company held a meet¬
foregoing shows that whereas the total net surplus of
earnings over interest and rentals was $774,781 in 1883, or just ing and considered the proposed plan of reorganization. It
was stated that of
$50,000,000 issued in mortgage bonds
equal to the dividend of 7 per cent on the preferred stock, it one-tenth are heldthe^
in Philadelphia. Mr. Elias E. Kennedy
was only $607,744 in 1884, or $180,232 less than the dividend.
offered resolutions, which were adopted, appointing a commit¬
Denver & Rio Grande.—It should be clearly understood tee of three—John L.
Lawson, Frank J. Firth and R. H. C.
that two committees are in the field with reorganization plans
Hill—to co operate with any and all committees for the pur¬
for this company.
The first one is the Philadelphia commit¬ pose of protecting the interests of the first-mortgage bond¬
tee, with headquarters in New York at 52 William Street, holders.
whose plan is made chiefly in the interest of the equipment
Mr. H. D. Bulkley, an expert accountant, who is connected
certificate holders, and requests old first-mortgage bondhold¬
with the company and Secretary of the New York committee,
ers to surrender their bonds, giving up their present exclusive
read a statement showing how the $25,000,000 to be raised by
lien, and take others bearing a lower rate of interest.
the new first-mortgage is to be applied.
It was as follows: To
The other plan is offered by the committee of consolidated
pay off receivers' debt, not including equipment notes, about
mortgage bondholders, of which Mr. Coppell, of Maitland, $3,500,000; to acquire absolute title to equipment now in use
Phelps & Co., 24 Exchange Place, is Chairman. This commit¬ or process of delivery on car-trust contracts, about $3,850,000;
tee represents a large amount of foreign bondholders and at
to pay off purchase money on station grounds, about $500,000;
their meeting on Thursday they had about $6,280,000 bonds to settle
judgments, about $175,000; to settle floating debt of
represented. They will go on and take further assents to the the New York West Shore & Buffalo Railroad, about $975,000;
proposed plan as rapidly as they can be gathered in, and as to settle unadjusted claims for right of way, about $400,000;
soon as a majority of bondholders have assented, the trustees
to complete road from Weehawken to Buffalo, about $2,500,will proceed to foreclosure of the mortgage and reorganiza¬
000; to purchase terminal property, about $8,000,000; to com¬
tion of the company.
This plan very properly leaves the old plete terminal, about $2,000,000; for additional equipment,
first mortgages untouched, unless the holders choose volun¬
$1,000,000; for reorganization expenses and contigencies, about
tarily to reduce their interest.
$2,100,000;
Eastern (Mass.)—The balance due the Eastern railroad for
Pacific Railroads and Pacific Mail.—The Central Pacific
the year ended Sept. 30, under the lease arrangement, was
Railroad Company lias given assent to the proposition to
$245,000, which has just been paid over by the Boston &
Maine. The lease dated back to Oct. 1, 1883, although not extend the old contract with the Pacific Mail Steamship Com¬
ratified until last fall. Of the amount paid over, $100,000 pany until June 1. Mr. Huntington said that all the parties
in interest were likely to come together in the formation of a
goes into the sinking fund for the redemption of the bonded
debt. The stock gets nothing until the bonded debt is reduced new contract, and that there was little or no doubt that this
would be satisfactorily completed before the expiration of the
to $10,000,000.
Whether it will be so reduced by the conver¬
sion of the balance of the debt above $10,000,000 into preferred extended agreement.
stock is yet quite uncertain. .
Philadelphia & Reading.—The Philadelphia newspapers
East Tennessee Virginia & Georgia.—The gross and net report that there is no evidence that any steps whatever have
been taken towards adjustment, and that the conferences
earnings since July 1 have been as follows:
between the Bartol and Whelen committees have been pro¬
Gross Earnings. —.
Net Earnings.
1881-85.
1884-85.
1883-84.
1893-81.
ductive of nothing but talk.
The managers announce that
July 1 to Dec. 31
$2,129,343 $2,308,985
$855,019 $1,072,063 $26*000,000 of bonds have assented to their plan, of which
317,988
77,937
January*
297,326
' 172,9251
311,894
320,392
1L1,873
114,795 $9,000,000 are general mortgages.
February
March
324,400
331,109
84,881
148.231
Judge McKennan has appointed Ex-Gov. James Pollock
examiner in the bill of foreclosure brought against the Phila¬
Total 9 moB
$3,052,963 $3,278,474 $1,224,723 $1,413,026
delphia & Reading Railroad Company by William M. Robinson,
a general mortgage bondholder.
Not including the first six (lays in 1885, during which time the road
Gov. Pollock went to work
was not operated by receiver.
on April 24.
promptly
and
heard
testimony
i Receiver incurred only such expenses as were absolutely necessary.
Samuel W. Bell, as trustee of the income mortgage of the
Fort Worth & Denver City .—The gross and net earnings Reading Railroad Company, has filed in the United States
Circuit Court an amendment to his answer, which had been
for March, and for five months from Nov. 1, have been :
March.—
-—Nov. 1 to Mar. 31.—
previously filed in the Robinson suit for foreclosure of the
188 4.
1884-5.
1883-4.
1885.
general mortgage. Mr. Bell in his amendment claims that the
Gross earnings
$11,532
$141,733
$32,539
$162,229 issue of $5,000,000 7 per cent bonds, which, under the Robin¬
21,850
99,320
Operating expenses
17,937
75,148
son bill, are claimed to be secured by the general mortgage,
Net earnings
$14,C02
$9,682
$63,9 3 have no lien prior to the income mortgage bonds, because the
$56,585
Memphis & Charleston.—The gross and net earnings for deed of mortgage of July 1, 1874, stipulated that no greater
March, and for nine months from July 1 to March 31 have number of bonds should be issued, together with those then
been:
outstanding, than should equal the sum of $60,000,000, and at
Afai'ch.
—Juln l to March 31.—.
the time of issue of the said $5,000,000 7 per cent bonds more
1881.
1S85
) 884.
18S5.
than the stipulated amount was outstanding, and further, at
Gross earnings
$103,252
$111,925 $1,125,3*’6 $1,070,275 the time of the said issue the road was in the custody of the
Operating expenses
88,462
700,701
97,680
883,722
Court through its receivers, and that, therefore, the issue was
23.463
235,624
375,511 illegal and
Net earnings
11,572
void...
Missouri Pacific.—A press dispatch from St. Louis, April
Pennsylvania Railroad.—The gross and net earnings in
21, said: The long-pending case of the Pacific Railroad March and for three months, are specially compiled for
Company against the Missouri Pacific Railway Company and the Chronicle in the tables below.
In March, 1885,
a number of prominent railroad magnates mentioned in the
there was a decrease of $367,253 in gross earnings and a
decrease of $243,442 in net, and for the three months a decrease
v
consent.
The settlement of this case and the Marie- of $1,014,997 in gross and $713,093, in net
compared with 1884.
Garrison case in N. Y. disposes of the vexatious litigation On the lines west of
Pittsburg the net returns show an increase
-which hung over the title to this company's property.
of $52,843 in March, 1885, compared with March, 1884, and an
New York Chicago & St. Louis.—The committee appointed increase of $45,250 for the three months in 1885.
by the first mortgage bondholders has appointed Mr. Thomas
LINES EAST OF PITTSBURG AND ERIE.
Denny Chairman and Mr. J. C. Reiff Secretary. At Cleveland,
Net Earnings.
Gross Earnings.—
O., April 20, the trustees under the equipment mortgage filed
1884.
1885.
1885.
1894.
a petition asking the Court to direct the receiver to pay them
$1,166,136
$990,574
$3,277,522
$3,574,233
January.
1,124,579
930.439
3,126,733
3,075,701
$140,000 unpaid rental of equipment, and also to insure such February
1,434,551
1,161,109
4,002,627
3,635,374
rented equipment against loss by fire in accordance with the March...
The Union Trust Co. of New York filed an amend¬
contract.
Total 3 mos..$9,938,596
$3,695,266
$11,003,593
$2,932,172
ment to the petition under which the receiver was appointed,
As to the lines west of Pittsburg and Erie, the monthly re¬
in which it says it does not desire to prosecute the foreclosure
of the second mortgage to the exclusion of the Central Trust
ports issued in 1884 and for the current year show the results
below.
The company’s returns, however, state a gain for the
Co., trustee under the first mortgage.
New York Ontario & Western.—The London & Amsterdam three months in the present year, compared with the year 1884,
committee of the Ontario & Western road advertise at par of $32,070.
The
/
/
*
/
/
..
—
■>
•
Petition, was dismissed in the United States Court here to-day
.
April
THE CHRONICLE,
25, 1885.J
LINES WEST OP PITTSBURG «fc ERIE.
Net Surplus over all Liabilities.
1884.
1885.
January
February
March
Total 3 mouths
Def. $73,420
Def. 190,780
Def.
56,010
Def. $320,240
Def. $106,550
Def. 150,051
Inc. 33.136
Dec. 40,729
Def. $365,490
Inc.$i5,250
Def.
108,883
Iuc. 52,843
Valley.—This road is understood to have been con¬
some time past in the interest of Mr. C. P. Hun¬
tington or the Chesapeake & Ohio. A proposal is now made
that new bonds be issued bearing interest at the rate of 4 per
cent per annum and having fifty years to run, the whole issue
not exceeding $4,000,000, to be guaranteed by the Chesapeake
& Ohio and the Indianapolis Bloomington & Western railroads.
to
These
bonds
are
be exchanged dollar for dollar
for all existing bonds and outstanding coupons, and the several
classes of bondholders, first, second, and consolidated, as also
the holders of floating debt, are to be reduced to a dead level,
as if a first railroad mortgage had no priority over a third or
fourth, or over an ordinary note. It is not strange that there is
some opposition to this plan by the holders of first mortgage
Scioto
trolled for
bonds.
Shenandoah Valley.—A
majority of the holders of all
Railroad Company
classes of bonds of the Shenandoah Valley
have appointed committees to consider
the affairs of the
and recommend some plan of reorganization. J.
W. Brock is the Secretary, 138 South Third Street, Phila¬
delphia.
company
Texas & St.
Louis.—A
press
dispatch from Galveston,
Texas, April 23, said that “ in the United States Circuit Court
Judge Pardee issued a decree in favor of the Central Trust
Company, of New York, against the Texas & St. Louis
Railway Company, ordering the foreclosure of several mort¬
gages standing against the company, aggregating $6,000,000.
The decree affects only that portion of the road in Texas. The
time and place of sale will be announced by J. M. McCormick,
of Dallas, Special Master in Chancery in the case.”
Southern Pacific Co.—The status of this company is shown
by the report on another page, The directors and officers of
the company, elected at a stockholders’ meeting held at Louis¬
ville, April 8, 1885, are as follows: Directors—Leland Stan¬
ford, Timothy Hopkins, E. H. Miller Jr., F. S. Douty, W. E.
Biown, C. P. Huntington, Charles Crocker, T. W. Peirce, S.
T. Gage, Ariel Lathrop and Charles F. Crocker.
Leland Stan¬
ford, President; C. P. Huntington, 1st Vice-President; Chas.
Crocker, 2d Vice-President; Charles F. Crocker, 3d VicePresident; Timothy Hopkins, Treasurer; E. H. Miller Jr.,
Secretary.
509
3. It is well settled by many decisions of this Court that for the pur
pose of affecting proceedings to enforce the payment of taxes a lawful
tender of payment is equivalent to actual payment; either being sutUcient to deprive the collecting officer of all authority for further aotiou
and making every subsequent step illegal and void.
4. Tlie coupons in question are not “ bills of credit” in the sense of the
constitution, which forbids the State “ to emit bills of credit,” because,
although issued by the State of Virginia on its credit aud made receiv¬
able in payment of taxes and negotiable so as to pass from hand to
hand by delivery merely, they were not intended to circulate as money
between individuals and between Government and individuals for the
ordinary purposes of society.
5- An action or suit brought by a taxpaper who has duljr teudered
such coupons in payment of liis taxes, against the person who, under
color of office as tax-collector,and acting in the enforcement of a void law
passed by tlie Legislature of the State, having refused such coupons,
proceeds by seizure and sale of the property of the plaintiff to enforce
the collection of such taxes, is an action or suit against him personally as
a wrong-doer, aud is not against tlie State within tbe meaning of the
eleventh amendment to the Constitution of the United States.
6. Such a defendant, sued as a wrong-doer, who seeks to substitute the
State in his place, or to justify by tlie authority of tlie State, or to defend
on the ground that the State has adopted his act and exonerated him,
cannot rest on the bare assertion of his defense, but is bound to estab¬
lish it ; and as tlie State is a political corporate body which can act only
through agents and command only by law, in order to complete his
defense ho must produce a valid law of the State which constitutes his
commission as its agent and a warrant for Ills act.
7. Ihe act of the General Assembly of Virginia of January 26, 1862,
“
to provide for the more efficient collection of the revenue, to support
Government, maintain tlie public schools and to pay interest on the
public debt,” requiring tax-collectors to receive in discharge of the taxes
license taxes aud other dues, gold, silver, United States Treasury notes,
Natioralbank currency and nothing else, and thereby forbidding the
receipt of coupons issued under the act of March 30, 1871, in payment
therefor, although it is a legislative act of the Government of Virginia,
is uot a law of the State of Virginia, because it impairs the obligation of
its contract and is annulled by the Constitution of the United States.
8. The State has passed no such law, for it cannot; and what it cannot
do, in contemplation of law it has not done. Tlie Constitution of tlie
United States and its own contract, both irrepealable by any act on its
part, are the law of Virginia; and that law made it the duty of the
defendant to receive the coupons tendered in payment of taxes, and
declared every step to enforce the tax thereafter taken to be without
warrant ot law, and therefore a wrong.
This strips the defendant of
his ollicial character, and convicts him of a personal violation of the
plaintiff’s rights, for which he must personally answer.
9. It is no objection to the remedy in such cases that the statute, the
application of which in the particular case is sought to be prevented, is
not void on its face, but is complained of only because its operation in
the particular instance works a violation of a Constitutional right, for
the cases are numerous where the tax laws of a State, which in their
general and proper application are perfectly valid, have been held to
become void in particular cases either as unconstitutional regulations
in commerce, or as violations of contract prohibited by tlie Constitu¬
tion, or because in some other way they operate to deprive the party
complaining of a right secured to him by the Constitution of the United
8tat-s.
10. In cases of detinue the action is purely defensive on the part of
the plaintiff. Its object is merely to resist an attempted wrong, and to
restore the status in quo as it was when the right to be vindicated was
invaded. It is analogous to the preventive remedy of injunction, in
equity, where that jurisdiction is invoked, of which frequent examples
Toledo Cincinnati & St. Louis.—The Quigley committee,
a large majority of the bonds of both divisions of
gives notice that bondholders who desire to do so
subscribe to their plan of reorganization up to May 10th,
controlling
this road,
may
but not afterwards.
?
Union Pacific.—The Union Trust Company of New York
appointed a transfer agent in New York, and
payment of all coupons of this company and its
auxiliaries, which have heretofore been paid at 195 Broadway.
Virginia Coupon Tax Cases.—The United States Supreme
Court at Washington on April 20 decided the Virginia coupon
tax cases in favor of the bondholders and against the State.
The cases stood upon the docket as follows :
has been duly
will also make
No. 588—Thomas Poindexter agt. Samuel C. Greenhow.
No. 585—William L. White agt. the same.
No. 590—3auiuel S. Carter agt. the same.
No. 826—S. Brown Allen, Auditor, and others, agt. the
Ohio Railroad Company.
No. 1,260—R. B. Chafliu agt. William Taylor.
occur in cases to prevent the illegal taxation of national banks by
State authorities.
11. The suit authorized by the act of the General Assembly of Vir¬
ginia of January 26, 1882, against the collector of taxes, refusing to
accept a tender of coupons, to recover back the amount paid under pro¬
test, is uo remedy at all for the breach of the contract, which required
him to receive the coupons in payment.
The taxpayer and coupon
bolder has a right to say he will not pay the amount a second time and
insisting upon his tender as equivalent to payment, resist the further
exactiou and treat as a wrong doer the officer who seizes his property
to enforce it.
The right to pay in coupons cannot be treated as a mere
right of set-off, which is a part of the remedy merely when given by the
general law, and therefore subject to modification or repeal, because
the law which gave
it js also a contract, and therefore cannot be
changed without mutual consent.
12. Neither can it be considered an adequate remedy in view of the
supposed necessity for summary proceedings in matters of revenue, and
the convenience of the State, which requires that the prompt collection
of taxes should not be hindered or
most yield to the contract which
Baltimore &
embarrassed; for the revenue system
the State lias lawfully made and the
obligation of which by the Constitution it is forbidden to impair.
13. The act of the General Assembly of Virginia of January 26, 1882,
and the amendatory act of March 13. 1884, are unconstitutional and
void, because they impair the obligation of the contract of the State
with the
coupon-holder under the act of March 30, 1871; and that being
Hustings Court of the City of Richmond; the main object of the two acts, the vice which invalidates them, per¬
Nos. 589 and 590 from the United States Circuit Court for the vades them throughout and in all their provisions. It is not practicable
Eastern District of Virginia; No. 826 from the same court for to separate those parts which repeal and abolish the actions of trespass
and
on the case and other particular forms of action, as reme¬
the Western District of that State, and No. 1,260 from the dies trespass
for the taxpayer who ha3 tendered his coupons in payment of
taxes, from the main object of the acts which that prohibition was
Virginia Supreme Court of Appeals.
The first three cases present directly the question of the intended to effectuate; and it follows that the whole of these and similar
effect of a tender for taxes of the coupons of the bonds of statuies must he declared to tie unconstitutional,null andvoid. It also fol¬
lows that these statutes cannot be regarded in tlie Courts of the United
March 30, 1871, and the right of the Virginia taxpayer to Stares as 1 tws of the State, to be obeyed as rules of decision in trials at
bring suit for damages against the tax-collector for levying common law under section 72). Revised Statutes, or as regulating the
of those Courts under section 914, Revised Statutes.
oU his property after a tender of tax-receivable coupons.
The practice
14. Tlie present ease is not
by tlie decision in Antoni against
sixth case presents the question of the right of a citizen of Greenhow, 107 U. S., 700, covered
the points now involved being expressly
Virginia to pay a license tax imposed by a statute of that reserved in the judgment in that case.
State in the tax-receivable coupons of the bonds of March 3Q,
The points of the decision of the Court in other eases of this
1871. The fourth case presents the question of the right of a
group are as follows : Nos. 589 and 1,260, covered by the abo\e
non-resident taxpayer of Virginia, after a tender of coupons
opinion in No. 588. No. 826, Allen, Auditor against the Balti¬
for taxes, to an injunction to restrain the levy on and sale of more & Ohio Railroad
Company. The Court holds—
his property.
1. That the general questions arising and argued in this case arc fully
The principal opinion in this group of cases has direct discussed and decided in the case of Poindexter against Greenhow, No.
reference to No. 588, Poindexter against Greenhow.
It was 588; 2. i'he remedy by injunction to prevent the collection of taxes by
distraint
the rolling stock, machinery, cars and engines and other
prepared and delivered by Mr. Justice Matthews, and decides property upon
of railroad corporations, after a tender of payment in taxthe question presented by that case as follows:
receivable coupons, is sanctioned by repeated decisions of this Court,
No. 588 is from the
1. By the terms of the Funding Act of tlie State of Virginia of March
30, 1871, and the issue of bonds and coupons in virtue of the same, a
contract was made between
every coupon holder and the State, that
should “ be receivable at and after maturity for all taxes,
debts, dues and demands due the State;” the right of the. coupon-,
holder under which was to have his coupons received for taxes when
offered; aud any act of tile State which rorbids the receipt of these
coupons for taxes is a violation of the contract and void as against
coupon holders.
2. The faculty of being receivable in payment of taxes was of tlie
essence of tbe right, as it constituted a self-executing remedy in the
hands of a taxpayer, for it became thereby tlie legal duty of every taxcollector to receive such coupons in payment of taxes upon unequal
footing and with equal effect as though they were money; and after a
tender of suc-b coupons duly made for that purpose, the situation and
rights of the taxpayer and coupon-holder were precisely yrnat they
such coupons
would have been if be had made a like tender in money.
and has become the common and unquestioned practice in similar cases
when exempt ions have been claimed by virtue of tlie Constitution of the
United States; the ground of tlie jurisdiction being that there is no
adequate remedy at law.
In another allied case. No. 1,278, Marye against Parsons, the Court
holds that, the contract light of a coupon-holder under the Virginia Act
of March 30, 1871, whereby his coupons are receivable in payment of
taxes, can be exercised only by a taxpayer ; and a bill in equity for an
injunction to restrain tax-eo’Fetors from refusing to receive them wneu
tendered in payment of taxes, will not lie in behalf of a coupon-holder
who does nor allege himself to be also a tax-payer. Such a bill calls for
a decree declaring merely an abstract right, and does not show uuy
breach of the contract or other ground of relief.
In No.
590, Carter against Greenhow, the Court holds—
authorizing suits, with¬
1. That the 16th clause, sec. 629. Rev. Statutes,
out reference to the sum or value incontrorersy,or
tue citizenship of the
THE CHRONICLE
510
^lue (Hcmxmcrcial jinxes.
Sarties,thetodeprivation,
be brought inunder
the Circuit
of theof United
States
to recolor of Courts
State law
any light,
privilege
ress
States in viola¬
of
damages
rejected tender of taxseeks to
sale of
pergonal property of the plaintiff. 2. That, although the right to have
such coupons received in payment of taxes is founded on a contract
with the State, and that right is protected by the Constitution of the
or
immunity secured by the Constitution of the United
tion of section 1,979 Revised Statutes, does not embrace an action
trespass on the case in which the plaintiff seeks a recovery of
against' a tax-collector in Virginia,who having
a
receivable coupons issued under the act of March 90, 1871,
collect the tax for which they were tendered by a seizure and
United States by Article 1,
laws impairing
in case of any
section 10, forbidding the State to pass auy
the obligation of the contract, the
only mode of redress
disturbance or dispossession of property, or other legal
rights based on such violation of the contract, is to have a judical
determination in a suit between individuals of the invalidity of the law
under color of which the wrong has been committed. No direct action
for the denial of the right secured by the contract will lie.”
No. 941, Pleasants against Greenhow, is cov¬
above opinion.
Justice Bradley read a carefully-prepared dissenting opinion,
in which the Chief Justice, Justice Miller and Justice Gray
concurred. The opinion has reference particularly to case No.
826, Allen against Baltimore & Ohio Company, and the funda¬
mental ground of the dissent,as set forth by Justice Bradley, is:
Another case,
ered by the
That this proceeding, and all other proceedings on these coupons,
brought here for review, are virtually suits against the State of Vir¬
ginia to compel a specilic performance by the State of her agreement to
receive the said coupons in payment of all taxes, dues and demands.
However just such a proceeding may seem in the abstract, or however
willing courts might be to sustain it,'if it were constitutional, yet, look¬
ing at the case as it realb' is, we regard it as directly repugnant to the
eleventh amendment of the Constitution, which declares that the ‘•judi¬
cial power of the United States shall not
suit in law or equity begun or prosecuted
States by citizens of another State or
be construed to extend to any
against auy one of the United
by citizens or subjects of any
foreign state.” Counsel for the bondholders press upon our
attention that
provision of the Constitution which declares that no State shall pass
any law impairing the obligations of a contract, and insist that the laws
passed by the Legislature of Virginia forbidding the receipt of coupons
for taxes, since the passage of the act of 1871 by which they were made
receivable, are unconstitutional and absolutely void, and that no otticer
or tax-collector of the State is bound to regard, but on the contrary, is
bound to disregard them. So we have one pro visit n of the Constitution set
up against the other and are asked to enforce that relating to contracts
by regarding the individual officers as the real parties proceeded against,
and ignoring the fact that in the matter of receiving coupons in pay¬
ment of taxes these officers only represent the State.
By this techni¬
cal device it is supposed that the eleventh amendment may be evaded.
In ray opinion this is not a sound or fair interpretation of the Constitu¬
tion. If the contract clause and the eleveuth amendment come into
conflict, the latter has paramount force. It was adopted as an amend¬
and operates as an amendment of every
of the Constitution to which it is at auy time found to be
Every amendment of a law or Constitution revokes, alters or
ment to the Constitution
part
repugnant.
adds
something. It is the last declared will of the law-maker and has para
mount force and effect. * * *
The Constitution stilt declares that no
State shall pass any law impairing the obligation of a contract,
effect of the amendment is that oven if a State should pass a
but the
law im¬
[VOL. XL.
EPITOMK
COMMERCIAL
\
~~
April 24, 1885.
The advices by cable concerning the relations between Great
Britain and Russia have again worn a very warlike aspect,
causing a renewal of the speculation in breadstuffs, depressing
cotton and affecting other values, but not to the extent equal
to that reported a fortnight ago.
The granting of a credit t
the British Ministry of $55,000,000 and the fall in consols
caused much excitement.
The weather has become quite
spring-like,and apprehensions of an unfavorable effect upon the
prospects for the season’s crops by bad weather are almost
wholly removed. Labor troubles are nowhere serious. Gen¬
eral business is only moderate, but improving, and there is a
general revival of confidence in trade and manufactures.
Lard futures have been rather dull throughout the week,
not sharing in the speculative strength of some other food
staples ; prices show some decline, closing at 7*12c. for May,
7*22c. for June, 7*29c. for July and 7*37c. for August.
Spot
lard closes dull and nearly nominal at 7*05c. for prime city,
7 20c. for prime Western and 7*40c. for refined for the Conti¬
nent.
Pork has been quieter, and closes dull at $13@$13 25
for mess, $10 75@$11 for extra prime and $14@$14 75 for
clear, pickled cutmeats have been much less active and close
rather quiet at 5%@63^c. for bellies, 514c. for shoulders and
9@9i£c. for hams. Smoked meats are nearly nominal. Beef
firm ; extra mess $11 50@$12 and packet $12@$12 50 per
bbl., and India mess $25@$27 50 per tierce ; beef hams quoted
at $20@$20 50 per bbl.
Tallow is .steady but quiet at 6c.;
stearine, 7^@7;^c., and oleomargarine 7i^c; Butter is steady
at 20@ 28c. for new creamery.
Cheese rather firm at 7@12c.
for State factor}', with some fine new offering at 10)£c.
The
slaughter of swine at the West has made active progress,
amounting at eight towns to 551,900 head since March 1, against
365,500 for the corresponding period last season. The follow¬
ing is a comparative summary of aggregate exports from Oct.
27 to April 18 :
pairing the validity of its own contract, no redress can be had therefore
in the Federal Courts.
All those who deal with a State have full
notice of this fundamental condition. They know that they must de¬
pend upon the faith of the State, just as it no constitution existed, and
cannot resort to compulsion unless the State chooses to permit itself to
Friday Night,
1883-4.
1884-5.
20,411,200
Inc. 0,150,000
Inc. 41,037,523
227,398,939
186,361,416
97,483,095
Inc. 45,173,880
142,656,975
Brazil coffees have been declining throughout the week;
be sued. * * *
fair cargoes of Rio are ^£c. lower at 8^c. and options have
There is no question about the validity of the taxes, they are admit
To-day there was a partial and not fullytedly due; the officer is entitled to collect them; his authority is undis- given way sharply.
sustained recovery in options, with the closing bids at
are tenderedas a payment—not
Euted.
ave no The
coupons
quality
of money—but
set-off, which, as
as money,
is insisted, the 675c. for May, 6‘95c. for July, 7‘15c. for September and 7*35c.
State has agreed to allow. The taxpayer stands on this agreement and
for November. Mild coffees have been dull. Raw sugars have
seeks to enforce it. All suits undertaken for this end are in truth and
reality suits against the State to compel a compliance with its agree¬ had a brisk sale and close at an advance to 4%@4%c. for fair
ment. A set-off is nothing but a cross-action, and can no more be
to good refining, and refined showing a firmer feeling,
There
enforced against a 8tate without its consent than a direct action can be.
has been a large business in molasses, and the close is firm at
When set-offs are allowed against the sovereign, it is always by virtue of
The speculation in teas at the
some express statute.
* * * Tbe officers have no power but what the 173^c. for 50-degrees test.
recent decline has slightly revived, with sales of standard
State gives them. They act for and on behalf of the State, and in no
other way. To sue them, therefore, because they will not receive the
Japans yesterday at 2\%c. for May and 22J4c. for June.
coupons in payment, is virtually to sue the State. The sole object is to
Spices are somewhat unsettled.
coerce the State.
* * *
Kentucky tobacco has been quiet. Sales this week are only
The dissenting opinion covers cases Nos. 588, 589 and 1,260 about 100 hhds., of which 60 for export; but prices remain
in
for they
and 826.
firm;
Wabash St. Louis & Pacific.—The order of Judge Brewer
April 16, has undoubtedly been misinterpreted
to some extent.
It is, no doubt, the intention of the Court to
surrender leased properties to the bondholders where fore¬
closure suits are begun on the separate mortgages. On April
17 an order was made directing the surrender of the Havana
Division to Spaulding & Terry, the trustees under the mort¬
gage of that division, and the Cairo Division was also sur¬
rendered. As now reported, the Court said that in the case of
all leased lines whose incomes are greater than their expenses,
the receivers are to pay rent or interest out of the net earn¬
ings. Where the net income is not sufficient to pay full rent,
the receivers are to pay only such net income as rental; where
the earnings are less than the operating expenses the receivers
are to pay no rental, but are to reduce the expenses as much
as possible.
In all cases they are to continue operating the
lines. The Court said that the receivers were appointed to
keep the whole system in operation. In case there is any
debt incurred in running these lines, it must be paid from the
income of the main line or from the issue of certificates.
Bondholders will generally find that they can trust their
interests to the U. S. Courts, and all they require is to be fully
and fairly represented before those Courts.
—To-day, April 24, dispatches from London state that the
bondholders have adopted a plan of reorganization, but its
precise terms are not known. The Evening Post says : “ The
leading features of the plan are understood to be the assess¬
ment of the preferred stock $5 per share and the common
stock $6 per share
The proceeds of this assessment to be
used in the payment of the floating debt and of the collateral
trust loan of $5,671,000.
Also to issue new bonds at 5 per
cent for the present $17,000,000 of 6 per cent general mortgage
bonds.
Interest on the new general mortgage bonds to be
paid if earned, but foreclosure to be suspended for seven years.\
at St.
Louis,
on
26,591,200
Pork, lbs
Bacon, lbs
Lard, lbs
Seed leaf shows a
lugs, 5%@7*4c.; leaf, 7%@12c.
rather better movement, the sales aggregating
follows : 350 cases 1881 crop, Penn., 5%@llc.;
1,000 cases, as
200 cases 1882
1883 crop, Penn., 9@12J^c.,
crop, Penn., ll@123^c.; 250 cases
and 200 cases sundries, 5@28c.; also
300 bales Havana, 68c.@
Sumatra, $1 13@$1 60.
Crude petroleum certificates have shown little activity on
the speculation, and prices, without varying widely, have been
quite unsettled, closing this afternoon at 78%c., a slight ad¬
vance over last Friday.
Crude in barrels quoted at 7@7^c.;
$1 15, and 150 bales
refined in barrels for export,
7%@7JaC., and in cases,
8^@
10^c.; naphtha, 634c. The speculation in spirits turpentine has
continued active. To-day the quotation on the spot was ad¬
vanced to 33j^@33^c., and 200 bbls. sold for July at 31c.
Rosins have been dull at $1 05@$1 08 for strained.
Wool has
been very
ton
active for speculation, the
aggregating several million
sales here and in Bos¬
pounds.
speculative demand for ingot
At to-day’s Exchange pig iron certificates were dull;
$16@$16J4 bid, 16%@$17% asked. Tin fairly active and firm,
but closing a shade easier at 17*90c.@ 1810c. spot, 17*60c.@
1734C. futures. Tin plates dull at $4 20@$4 30. Copper
firm and active
at ll*10c.@ll*30c. Lake, 10'70c.@10*80c.
50,000 lbs. Orford, April, sold at l0*65@10#70c. Lead steady
at 3’60c.@3*80c. domestic; 4*50c. asked for foreign.
Spelter
quiet at 4^c.@4‘45c. domestic; 4*70c.@4*80c. foreign; 10 tons
foreign, June, sold at 4%c.
Ocean freights have been rather dull throughout the week.
Grain shipments fell off and the movement of petroleum did
In metals there has been some
copper.
improve. Yesterday and to-day, however, there was a
partial revival, the business including oats to London at 3s.
per quarter; wheat to Leith 5^£d. per bushel, and grain from
Baltimore to Cork for orders 4s.
Late petroleum charters
include refined hence to Plymouth 2s. 7*4d., to Hamburg at
Is. 1034d„ and to the Baltic 2s. 7d.
not
£apeil
THE CHRONICLE.
25, 1885.]
In addition to above exports, our
COTTON.
Friday, P, M., April 24, 1885.
The Movement op the Crop, as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening
(April 24), the total receipts have reached 19,122
bales, against 23,723 bales last week, 21,808 bales the previous
week and 28,111 bales three weeks since; making the total
receipts since the 1st of September, 1884,4,643,940 bales, against
4,693,266 bales for the same period of 1883-84, showing a
decrease since September 1, 1884, of 50,326 bales.
Sat.
Receipts at—
Galveston
Mon.
60
Indianola, &c.
New Orleans...
164
1,141
1,575
1,148
56
207
7
77
.V
130
m m m
Wilmington....
902
878
....
....
•••
57
463
1,611
6,671
4
64
415
168
168
.
.
....
....
221
204
203
....
....
.
3,447
3
3
17
35
360
....
216
216
8
....
....
26
352
78
100
Boston
69
24
309
50
....
Philadelp’a, &c.
513
113
Totals this week
2,008
2,769
.
.
.
....
....
64
509
165
3,410
3,075
1,402
.
920
1,963
1,963
68
617
47
499
1,695
1,695
....
**
....
4
74
23
1,394
....
6,458
19,122
For comparison, we give the following table showing the week’s
total receipts, the total since Sept.l, 1884, and the stock to-night,
and the same items for the corresponding periods of last year.
1884-85.
Receipts to
This
April 24.
Galveston
617
...
New Orleans.
Mobile
57
168
Savannah....
3,447
Br’sw’k,&o
3
Charleston...
360
Pt.Royal,&o
Wilmington..
M’headC.,&c
216
8,203
7,029
1,364
3,646
790
268
30,308
19,122:4,643.940
5
412,420
543,229
46,069
10,500
......
775
920
1,695
1,394
10,352
6,679
1,963
220,247
104,004
167,367
1,679
15,933
156,998
9,351
2
......
......
5,060
7,307
44,585
347,722
6,310
11,421
12,531
347,224
6,720
7,476
9,850
20,923'4,693,266
575,357
572,785
4,237
1,079
5,041
23,780
In order that
comparison may be made with other years,
give below the totals at leading ports for six seasons.
Receipts at—
1885.
Galvest’n.&c.
1884.
704
1,280
1883.
1882.
1881.
we
1830.
415
797
Savannah....
3,447
598
11,141
16,304
1,016
5,623
Charl’st’n, &o
576
791
3,509
Wilm’gt’n, &c
20
102
802
2,202
485
Norfolk, &o..
1,883
5,475
6,555
3,945
4,406
1,058
12,085
8,562
All others....
12,287
8,779
10,640
6,543
Tot. this w’k.
19,122
20,923
59,244
33,606
47,729
30,858
New Orleans.
6,671
4,212
Mobile
3,831
7,522
2,623
2,689
2,708
6,037
14,173
1,689
4,625
3,498
12,449
1,407
1,149
2,540
512
117
Since Sept. 1. 4643,940 4693,266 5611,909 4431,742 5351,348
4638,867
Galveston Includes Indianola; Charleston includes Port Royal, &o..
Wilmington includes Moreliead City, &c.; Norfolk includes West Point,&c;
The exports for the week ending this evening reach a total
of 46,519 bales, of which 33,422 were to Great
Britain, 2,614
to France and 10,483 to the rest of the
Continent, while the
stocks as made up this evening are now 575,357 bales. Below
are the exports for the week and since
September
1884.
1,
Week Ending April 24.
From Sept.
Exported to—
Exports
Great
from—
J
Brit,n.^,'arlce
Galveston
Total
nent.
Week.
16,153
2,270
947
6,699 25,122
Savannah
Charleston*...
Wilmington...
Norfolkt
4,634
New York
6,599
3,385
1,613
1,038
Boston
Baltimore...
.
Philadelp’a,Ac
1,1884, to Apr. 24,1885.
Great
Britain. France
155,793
7,470
647,123 277,873
344
2,186
51
600
4,634
9,129
3,433
2,213
1,033
8,535
179,903
163,037
51,197
313,230
377,641
110,107
114,522
52,970
nent.
64,145
Total
227,413
313,947 1,235,943
700
43,830
0,375
34,090
199,250
390,853
152,665
838,011
14,040
25,670
136,854
345,305
548,585
Leaving
Stock.
Total.
9,545
3,542
5,166
2,059
20,312
None.
300
800
None.
None.
1,100
None.
None.
None.
15,933
1,500
2,300
None.
None.
None.
None.
None.
550
400
125,368
Charleston
Savannah
Galveston
None.
None.
None.
None.
None.
None.
None.
14,445
3,542
6,116
Norfolk
New York
Other ports
Total 1885.
1,400
6,803
800
None.
9,979
10,352
None.
None.
1,213
2,050
2,700
3,847
345,672
28,928
4,372
28,475
546,882
1,213
16,113
9,817
9,205
3,344
39,101
5.832
38,479
44.838
12.504
534,306
102.275
578,793
speculation in cotton for future delivery at this market
comparatively quiet for the week under review, and
prices show some decline from the figures of last Friday. The
reports by cable, regarding the relations between Russia and
Great Britain, have been very warlike. The demand of Mr.
Gladstone for a larger credit than had been
anticipated was
regarded as leaving but slight hopes for the preservation of
peace.
A moderate selling movement in cotton was therefore
sufficient to cause prices to give way sharply on Monday and
Wednesday. Another element of weakness has been the
better weather for the new crop. But on Thursday
the
impression that the war will give an impulse to trade, and
increase the demand for goods in countries where
they have
long been dull, and the small stocks of the raw material caused
has been
demand to
contracts, and in a measure restored the
holders, but did not give any activity to the
dealings or buoyancy to values. To-day dull and unsatis¬
factory accounts from Liverpool caused a fresh decline and
the close was at about the lowest figures of the week.
Cotton
on the spot has been dull, but to ward the close some business
was reported for
export. Quotations were reduced i^c. on
Wednesday. To-day the market is dull at 10^c. for middlingcover
uplands.
The total sales for forward delivery for the week are 293,000
For immediate delivery the total sales foot up this week
bales.
469
3,050
89,031
4,812
consumption,
Of the above, — bales
were to arrive.
The following are the official quotations for
each day of the past week.
60 for
speculation and
April 24.
Sat.
Ordin’y.$H>
3%
Strict Ord.. 93ie
Good Ord.. 10
Str. G’d Ord 103s
Low Midd’g 10lli6
Str.L’wMia 00%
Middling...
11
Good Mid
11310
Str. G’d Mid 113g
.
Midd’g Fair 11 %
Fair
1230
Wed
Ordin’y.$Bt>
Strict Ord..
Good Ord..
Str. G’d Ord
Low Midd’g
—
in transit.
1
UPLANDS.
April 18/o
NEW ORLEANS.
MonTues Sat.
8%
8%
93ig
9316
10
10
1030
11)38
TEXAS.
| MonjTues
9
9
9
9"ie
10%
9716
10%
10%
10%
10%
Sat.
10%
Mon Tuea
9
9
9
9716
9716
97,6
10%
10%
10%
10%
10%
10%
10n16 10n16 101%6 1015,8 10i5ie 1015,6 1015,e 1015,8
107q
11%
1078
11%
11%
11%
11%
11%
11
11
H3lfi
1130
11%
1230
113m 11716 ll7ia 11*16
Jl3s
11%
11%
11%
11%
11%
123a
Til.
Frl.
11%
11%
11%
11%
11-718
11%
11716
11%
11%
11716
11%
12
12
12
12
12
12
12%
12%
12%
12%
12%
12%
Wed
Tit.
Frl.
j Wed
Til.
Frl.
85a
858
83s
8%
87s
878
87e
8%
8%
9*16
9*16
9*16
9%6
9516
9%6
95,6
95,6
95,6
9%
978
10%
97e
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
109x6 109l6 10016 101316 101316 1013le 101316 1013,6 1013,8
Str.L’wMia 10%
Middling... 10%
Good Mid.. lUie
Str. G’d Mid n%
Midd’g Fair 11%
Fair
j 12%
10%
1078
10%
11
11
11
11
11
11
1078
11%
11%
11%
11%
11%
11%
115,6
H61«
11*16 11*16 115l6 11518
11*4
1158
12%
11%
11%
12%
11%
ll78
12%
STAINED.
lb.
Btrict Good Ordinary
Low Middling
Middling....
115ift 115,6
11%
1178
12%
Sat.
Good Ordinary
11%
1178
11%
1178
12%
12%
11%
11%
12%
Mon Tues Wed
Til.
11%
11%
12%
Fri.
'
8%
8%
83s
8%
8%
9*16
9%
8%
9*i«
9%
9*16
978
s*>
9%
815,6
81°, e
10%
10%
! 10%
1 10%
9%
1038
9%
10%
The total sales and future deliveries each day
during the
are indicated in the following statement.
For the con¬
venience of the reader we also add a column which shows at a
week
glance how the market closed
on same
days.
SALES OF SPOT AND TRANSIT.
SPOT MARKET
CLOSED.
110,570
150,003
57,782
Total.
10,483
46,519 2,212,323 362,810
951.589J 3,526,728
Total 1883-84
20,422
3,57?
12,208
36,207'2,174.949
863,029! 3,480.044
447,408
for’export, 1,202 for
2,062 bales, including 800
Sat..
Mon
Tu.es.
Wed
Thurs
Frl.
2,614
wise.
Ex¬
FUTURES.
Con-
Spec- Tran¬
Total.
sump uVVn sit.
port.
Sales.
Deliv¬
eries.
65.237
33,422
Includes exports from Port Royal, Ac.
t Includes exports from West Point, &Or
O oast-
None.
3,585
11,699
22,259
Total.........
*
Other
Foreign
MARKET AND SALES.
Conti¬
43,130
Florida
France.
Mobile
Exported to—
Conti¬
947
New Orleans..
Mobile
New Orleans....
Shipboard, not cleared—for
confidence of
10,779
20
Great
Britain.
some
1884.
145,680
4
647
1885.
4,212 1,492,483
797
249,787
24
42,479
598
645,958
25
7,984
91,403
12,535
571,314
499
Total
8,467
82
16
Boston
...
584,864
31
13,589
New York...
Philadel’a.&c
1,249
16
276,674
66,501
79,945
Baltimore
Sep.
1, 1883.
6,607
93,384
9,602
Norfolk
W.Point,&c.
77,440
711,810
9,746
508,714
•
Stock.
Since
Week.
452,610
10,773
6,671 1,492,807
415
227,721
Florida
This
Sep.
1,1884.
Week.
Ind’nola,&c
1883-84.
Since
24, at—
The
4
93
On
April
Total 1883
16
....
....
telegrams to-night also give
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, 89 Broad Street.
us
Total 1884
389
....
2
....
New York
Baltimore
617
f560
....
3
64
.
57
....
3
120
•
24
....
Total.
57
....
....
••••
Fri.
69
....
....
97
m
....
West Point,&o
•••
447
....
Moreh’d C.,&c
Norfolk
•
....
...
Charleston
Pt. Royal, &o.
46
733
271
Brunsw’k, &o.
244
Thurs.
....
....
Savannah......
Wed.
....
Mobile
Florida
Tll68.
511
.
.
.
The
Easier
Easy
Easy
Steady at %a dec
Steady
Dull and easy...
m
m
m
m
.
.
..
500
300
....
174
150
319
274
218
67
800'1,202
60
mm mm
m
m
m
m
m mm
m m m
m
m
m
m
mmmm
....
....
m
60
m
....
234
150
319
774
518
67
31,600
49^00
31,000
62,600
73,200
44,900
2,062 293,000
200
600
300
300
mmmm
....
1,400
daily deliveries given above are actually delivered tlie day
previous to that on which they are reported.
THE CHRONICLE
512
the follow¬
Futures are shown by
The Sales and Prices of
ing comprehensive table. In the statement will be found the
daily market, the prices of sales for each month each day, and
the closing bids, in addition to the daily and total sales.
2.
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7,800
314,700
193,943
9,900
416,500
1,338,900 1,217,143
382,000
282,000
382,000
513,000
4S,000
40,000
50,000
618,902
572,785 681,063
137,206
169,5 41
82,617
16,000
19,000
4.000
1,544,500
320,000
246,000
99,319
American—
281,000
187,000
5j3o7
99,349
9,800
o /
620,000
99,000
382,000
618,902
137,206
735,000
211,000
765,000
314,000
216,000
572,785
62,617
4,000
798.000
bales
Continental stocks
American afloat for Europe...
United States stock
United States interior stocks..
United States exports to-day..
515,000
681,068
169,541
16,000
19,000
1 ,950,506 2,004,402 2,327,609 1,876,108
Total American
East Indian. Brazil, Ac.—
Egypt, Brazil, Ac., afloat
333,000
65,200
99,943
382,000
48,000
257,000
278.000
65.000
102,500
226,000
31,000
101,100
203,000
6,000
Liverpool stock
London stock
Continental stocks
India afloat for Europe
62,200
103,700
282,000
320,000
50,000
40,000
•
928.143
744,900
567.100
815,500
1, ,950,506 2,004,402 2,327,609 1,876,108
Total East India, Ac
Total American
Total visible
Price Mid. Upl.,
2 ,517,606 2,819,902 3,072,509 2,804,251
55ftd.
6H10d.
63ied.
57bd.
supply
Liverpool
ftSP The imports into Cpntinental ports this week have been
47,000 bales.
The above figures indicate a decrease in the cotton in sight
to-night of 302,296 bales as compared with the same date of
1884, a decrease of 554,903 bales as compared with the corres¬
ponding date of 1883 and a decrease of 286,645 bales as
compared with 1882.
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 corresponding
period of 1883-81—is set out in detail in the following statement:
Litle
Rock,
Total, Total,
all
Houstn, Brenham, Louisvle, Petrsbug, Raleigh, Newbry,
new
N.
C S.
towns Texas. Texas. Ark. Ky. Va.
C.
M
8,076 2,469
*M
12,562 546,573
CO
X M
M
XWWmXOOi
M O' © tO © © ©
St.
Total,
old
towns.
DPalestin, als, Nashvile, Memphis, Selma. Mont Macon, Augsta,
Columbs, Vicksburg, Texas. Ala gom’ry, Ga Columbs, Towns.
Ala
Mis. Mirs* La. Texas. Ten. Ten. Ala. Oa.4
Rome,
Louis, Ga AGatlan, GGarifln, Eufal,
Cincat, Charlote,
Mo N.
C.
Ohio.
.
O'
m
X
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18,916 2,910
to to
M
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Recipts. Movemnt
gt
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April
1
>
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7,634
©
X
w
'
©
to
©
M©
© XX-3 M W tO W
© M X © © W to
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4,000
1,900
96,000
2,670
39,600
5,500
4,719
M
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i
454
2,500
2,000
139,000
6,500
63,000
1
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34,000
2,517,606 2,818,902 3,072,509 2,804,251
other descriptions are as follows:
supply
Liverpool stock
o©
©w
^
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1,500
26,800
19,800
Of the above, the totals of American find
:
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Total visible
4,700
45,300
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United States exports to-day..
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8tock in United States ports ..
Stock in U. 8. interior towns..
2,500
71,700
54,000
1,000
1,300
211,000
58,000
10,000
3,000
6.000
Egypt.Brazil,&c.,afltforE’r’pe
©
65,200
62.200
65,000
382,100
1882
953,000
992,000
1,063,000
Total Great Britain stock .1,
Stock at Hamburg
5,600
8tock at Bremen
48,300
Stock at Amsterdam
47,000
400
Stock at Rotterdam
800
Stock at Antwerp
179,000
Stock at Havre
5,000
8tock at Marseilles
Stock at Barcelona
83,000
8,000
Stock at Genoa.:
5,000
8tock at Trieste
Total European stocks
1,437,100
India cotton ailoat for Europe. 203,000
Arner'n cott’n afloat for Eur’pe 187,000
©9
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31,000
Total Continental stocks
o'©©
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bales.l,021,00*0
1883
1884
1885.
sc
•
to
Thursday evening. But to make the totals the complete
figures for to-night (April 24), we add the item of exports frem
the United States, including in it the exports of Friday only.
to
Stock at Liverpool
Stock at London
CT
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The Visible Supply of Cotton to-night, as made up by cable
and telegraph, is as follows. The Continental stocks, as well as
those for Great Britain and the afloat, are this week’s returns,
and consequently all the European figures are brought down
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Includes sales in September, 1884, for September, 158,200 ; September-October, lor October, 421,800; September-November, for November,
*
S82j200; September-December, for December, 967,800; 8eptemberJanuary, for January, 2,114,100; September-February, for February,
1,959,200; Septoinber-Marcli, for March, 2,294,100.
13F* We have included in the above table, and shall continue each
week to give, the average price of futures each day for each month. It
will be found under each day following the abbreviation “ Aver.' The
average for each month for the week is also given at bottom of table.
Transferable Orders—Saturday, 10 95o.; Monday, 10 83o.; Tuesday,
10'85e.; Wednesday, 10'8oc.; Thursday, I0'85o.; Friday, 10*80o.
The following exchanges have been made during the week:
4
10
*09
•10
pd. to exch.
pd. to exch.
pd. to exch.
pd. to exch.
100 June for Aug. I *16 pd. to exch. 100 June for Aug
100 May for June. | *26 pd. to exch. 100 May for Aug.
500 June for July. I *16 pd. to exch.1,200 Juno for Aug.
1,000 May for June |
to
23,912 1,894
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wek. This
Movemnt
Sept.
1,’83. Since
wek. This
Apr. Stock
25.
to
April
1 25,
sf
'
184.
estimated.
old interior stocks have
week 10,899 bales, and are to-night 16,782
totals show that the
decreased during the
April 25,
bales more than at the same period last year. The receipts at
the same towns have been 16,411 bales less than the same
week last year, and since September 1 the receipts at all the
towns are 220,228 bales less than for the same time in 1883-84.
Quotations for Middling Cotton at
endingl
April 21.
closing quotations for middling cotton on—
;
Galveston
New Orleans.
Mobile
Savannah.
...
Satur.
10%
10%
10%
10%
10%
10*3
•
|
...
..
Charleston..
Wilmington..
{
j
j
Boston
{
Baltimore—
Norfolk
Wed nes.
Tues.
Mon.
1 0 %
10%
10%6
10% g
10%
10^8
107l6
1030
10%
10%
10%
103s
IOL2
1030
10%
10%
I03q
10^
1050
109ie
10%
1030
10%
10%
10%
1C 38
10%
11
ll
11
11
11
11
1070
11%
10%
10%
11%
1030
1030
1030
10%
1030
10%
10%
■
1030
10%
10%
1030
10%
1030
|
I015lfi
101516
101&16
101o16
Philadelphia,
Augusta
Memphis
i
11%
1050
11%
11%
10%
St. Louis
Cincinnati...
Louisville....
j
11%
10%
10%
1030.
10%
....
Fri.
Thurs.
10 %
U>%
IOSq
LO30
1030
1038
10%
1030
10%
1030
1030
10%
10%
10%
1030
,Palestine, Texas.—It has rained on three days of the week,
the rainfall reaching two inches and fourteen hundredths.
Corn looks promising, and cotton planting progresses finely.
The thermometer has ranged from 65 to 85, averaging 72.
New Orleans, Louisiana.—We have had rain on three
Other Markets.— days of the week, the rainfall reaching sixty-one hundredths
the closing quotations of middling
cotton at Southern and other principal cotton markets for each
day of the past week.
In the table below we give
Week
513
THE CHRONICLE
1885.]
10%6
an inch.
The thermometer has averaged 73.
Shreveport, Louisiana.—Rainfall for the week four inches
and sixty-eight hundredths.
The thermometer has averaged
71, ranging from 63 to 92.
Meridian, Mississippi.—The days have been warm, but
the nights cool during the week, with no rain.
Planting is
about completed in this neighborhood.
The th< rmometer has
ranged from 55 to 79.
Columbus, Mississippi.—The weather has been warm and
dry all the week. Rain is needed.
The thermometer has
averaged 73, ranging from 58 to 88.
of
Leland, Mississippi.—We have had rain on one day of the
week, the rainfall reaching one inch and fifty-seven hun¬
dredths.
Yesterday and to-day cloudy, foggy and threatening.
Average thermometer 68, highest 88, lowest 43.
Little Rock, Arkansas.—We have had hard rains on three
days of the week, and reports indicate a lighter fall here than
The rainfall reached two
The Arkansas river is
near the danger line, and is still rising rapidly. Aver¬
getting
prepared for the purpose of indicating the actual movement each
week from the plantations. Receipts at the outports are some¬ age thermometer 68, highest 82, lowest 55.
Helena, Arkansas.—We have had rain on four days and
times misleading, as they are made up more largely one year
the remainder of the week has been pleasant.
The rainfall
than another at the expense of the interior stocks.
We reach, reached
ninety-two
hundredths
of
an inch.
Rains
light in
therefore, a safer conclusion through a comparative statement
Helena,
much
heavier
country.
having
but
in
the
We
are
like the following.
In reply to frequent inquiries we will add fine
weather.
The
thermometer
averaged
70,
growing
has
that these figures, of course, do not include overland receipts
the highest being 86 and the lowest 55.
or Southern consumption; they are .simply a statement of the
Memphis, Tennessee.—It has rained on two days of the
weekly movement from the plantations of that part of the crop
week, the rainfall reaching twenty-four hundredths of an
which finally reaches the market through the outports.
inch.
Good progress is being made in planting cotton, owing
RECEIPTS FROM PLANTATIONS.
to the fact that we have not had the usual spring overflow in
the Mississippi Valley this season.
Week
An increased acreage will
Receipts at the Ports. SVk at Interior Towns. Rcc’pts from Plant* ns.
be
Ending—
put
in
cotton.
"Average
thermometer
70, highest 84 and
1883. | 1884. j 1885.
1885.
1883. | 1884.
1885. j 1883.
10%
Receipts from the Plantations.—The
10%
10%
following table is
j 1884.
Feb.
6...7..
13
tt
20
it
27
165,809 111,481
140,130 105,921
134,449 65,013
70,487
Mch. (5
69,720
13
111,881' 49,876
20
105,062 42,635
27
86,900 52,884
78,708 37,091
April 3
10...... 72,935 30,113
17
60,527 80.274
135,321
124,826
*
U
‘
•4*
59.244
24
20,923
lowest 55.
89.785 343.58 4'282.475 271,790
08,021 320,790 208,009 256.045
161,0291
129,342'
94,202: 80,703
91,515' 52,870
32,510
32,503
54,324 321,424 251.430 234,231 129,070.
50,312 308,417 227,265 210,482 122,314
50,806 304,021 205,477 199,179 121,030
181,132 103,733
42,581
51,394
19,030
24,534
21,908
33,311
10,830
21,80s 239.401 ■ i 10,008 128,906
117,823
87,835
74,024
08,889
53,244
40,095
19,1221189,806! 90,794
30.021
J297,173 184,414 170,155
32,895 279,940'100,809
28,810 260,971! 141,23d 158,175
28,111 257,152'125,394 144,998
23,723|213,029! 98,900
100.983
49,302
40,932
28,813
39.503
21,249' 14,934
14,787
19,160
12,757
5,718
12,640
8.282
The above statement shows—1. That the total receipts from
the plantations since September 1, 1884, were 4,733,708 bales;
in 1883-84 were 4,734,904 bales; in 1882-83 were 5,785,230 bales.
the past week
movement from plantations was
8,282 bales, the balance being taken from the stocks at
the interior towns.
Last year the receipts from the plantations
for the same week were 12,757 bales and for 1883 they were
36,021 bales.
2.—That, although the receipts at the outports
were
19,122 bales, the actual
Amount of Cotton in Sight April 21.—In the
table below
give the receipts from plantations in another form, and add
to them the net overland movement to April 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
1882-84.
1S84-85.
1882-83.
1881-82.
Reoeipts at the ports to Apr.24 4,043,9404,693,266 5,611,909 4,431,742
Interior stocks on April 24 in
excess of September 1
173,321
112,411
89,768;
41,638
4,734,904 5,785,230 4,544,153
394,473
572,324
526,328
24 0,000
190,000
236,000
Tot. receipts from planta’tns 4,733,708
Net overland to April 1
556,182
217,000
Southern consumpt’n to Apr. 1
Total in
Northern
sight April 24
spinners’ takings to
April 24
5,506,890 5,497,232 6,597,55
1
i'5.128,626
i
1,507.049 1,359,612
it will be seen by the above that the increase in amount in sight
to-night, as compared with last year, is 9,658 bales, the decrease
from 1882-3 is 1,090,66 l bales, and the increase over 1881-2 is 378,261
bales.
by Telegraph.—With quite favorable
week at the South, planting has made
very satisfactory progress.
A hurricane swept over a portion
of Texas on Wednesday and Thursday, but as its track was nar¬
row no serious damage to crops is supposed to have been done.
Galveston Texas.—It has rained hard on three days of the
week, the rainfall reaching two inches and seventy-six hun¬
dredths.
Yesterday a hurricane traversed the mainland of
Galveston County, southeast to northwest, demolishing a few
buildings and fences and damaging railroads ; but as the track
of the hurricane was only four hundred yards wide, no serious
damage was done. It did not touch Galveston Island. The
thermometer has averaged 74, the highest being 80 and the
lowest 64.
Indianol-a, Texas.—We have had rain on three days of the
week, which was very beneficial, as it was needed. The rain¬
fall reached two inches and fifty-nine hundredths.
A storm is
reported at Victoria, but it is thought no serious damage has
been done.
Young crops, both corn and cotton, are generally
Nashville, Tennessee.—It has rained on one day of the
hundredths of an inch.
Planting makes good progress. The thermometer has ranged
from 54 to 82, averaging 67.
Mobile, Alabama.—The weather has been warm and fair
during the week, with no rain. Average thermometer 69,
highest 79 and lowest 61.
Montgomery, Alabama.—It has rained on one day and the
remainder of the week has been pleasant. The rainfall reached
tl irty-four hundredths of an inch.
Planting is making good
week, the rainfall reaching thirty-one
.
progress.
The thermometer has averaged 74, ranging
—£3
The thermometer has averaged 68, the highest
being 84 and the lowest 57.
days, and the
pleasant. The rainfall reached
one inch and forty hundredths.
Hailstorm here last Friday
afternoon.
The thermometer has averaged 71, ranging from
Selma. Alabama.—We have had rain on two
balance of the week has been
60 to 82.
Auburn, Alabama.—Telegram not
received.
Madison, Florida.—There li£,s been no rain all the week.
Average thermometer 71, highest 85 and lowest 57.
Macon, Georgia.—:We have had no rain all the week. It is
account of unfavorable weather some seed
The thermometer has averaged 66, the
highest being 84 and the lowest 48.
Columbus, Georgia.—It has rained on one day of the week,
the rainfall reaching ninety-one hundredths of an inch.
The
thermometer has averaged 68, ranging from 56 to 77.
Savannah. Georgia.—We have had rain on three days, the
remainder of the week being pleasant. The rainfall reached
forty-one hundredths of an inch. The thermometer has rafiged
reported that
on
has failed to come up.
averaging 65.
Augusta, Georgia.—We have had light rains on two days
of the week, the rainfall reaching forty-three hundredths of
an inch.
Planting progresses well. Corn and oats excepting
at some few points where late frost was more severe, are
developing promisingly. Average thermometer 57 highest 87
from 53 to 85,
lowest 48.
Atlanta, Georgia.—Telegram not received.
Charleston, South Carolina.—We have had rain on two days
of the
week, the rainfall reaching twenty-four hundredths of
The thermometer has averaged 63, ranging from 51
inch.
to 78.
an
Weather Reports
weather during the
very promising.
from 66 to 86.
in many other sections of the State.
inches and twenty-six hundredths.
rained
Columbia, South Carolina.—It has
on one
day of
the week, the rainfall reaching fifty hundredths of an inch.
Tha thermometer has ranged from 42 to 81, averaging 53.
Stateburg. South Carolina.—Telegram not received.
Wilson, North Carolina.—It has rained on two days of the
week, the rainfall reaching fifty-seven hundredths of an inch.
Farmers are giving increased land to cotton this year, and
planting makes good progress. The thermometer has averaged
63, the highest being 84 and the lowest 45.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at 3 o’clock
April 23, 1885, and April 24, 1884.
Apr. 23, ’85. Apr. 24, *84'
.
Feet.
New Orleans
Memphis
3
Below high-water mark
22
18
Above low-water mark.
Nashville
Above low-water mark.
Shreveport
Vicksburg
Above low-water mark.
Above low-water mark.
|
Mis
Inch.
5
6
8
sing.
Feet.
1
31
14
18
45
Inch.
7
2
9
3
4
THE CHRONICLE.
514
reported below high-water mark of 1871 until
Sept. 9, 1874, when the zero of gauge was changed to highwater mark of April 15 and 16, 1874, which is 6-10ths of a fool
above 1871, or 16 feet above low-water mark at that point.
India Cotton Movement from all Ports. — We have
re-arranged our India service so as to make our reports more
detailed and at the same time more accurate. We had found
it impossible to keep out of our figures, as cabled to us for the
ports other than Bombay, cargoes which proved only to be
shipments from one India port to another. The plan now
followed relieves us from the danger of this inaccuracy and
keeps the totals correct. We first give the Bombay statement
for the week and year, bringing the figures down to April 23.
New Orleans
854 1
FOR FOUR YEARS.
BOMBAY RECEIPTS AND SHIPMENTS
Conti¬
Great
Total. Britain
Tear Oreat Conti¬
BriVn. nent.
Receipts.
Shipment* since Jan. 1.
Shipments this week.
This
Week.
Total.
nent.
Since
Jan. 1.
508,000
868,000
978,000
332,000 46,000
1885 11.0C0 21,000 32,000 93,000 234,000
1884 33,000 41,000 71,000 283,000 351,000
1883 4,000 25,000 29,000 219,000 130.000
1882 8,000 31,000 39,000 405,000 270,000
634,000 88.000
655,000 79,000
735,000 82.000
994,000
According to the foregoing, Bombay appears to show a
compared with last year in the week’s receipts of
42,000 bales, and a decrease in shipments of 42,000 bales, and
the shipments since January 1 shew a decrease of 302,000 bales.
The movement at Calcutta Madras and other India ports for
the last reported week and since the 1st of January, for two
years, has been as follows.
“Other ports” cover Ceylon,
Tuticorin, Kurrachee and Coconada.
decrease
Shipments since January 1.
Shipments for the week.
Conti¬
Oreat
Britain.
Total.
nent.
Great
Britain.
Calcutta-
1,000
4,000
6,000
10,000
44.000
11,000
55,000
6,000
78,000
29,000
107,000
2,000
4,600
6,600
12.500
4,600
4,000
17,100
7,000
7,COO
16,5C0
15,500
32,000
13.500
3,000
16 500
64,500
104,000
26,500
36,600
140,600
5,000
1885
Total.
Continent.
Madras-
4,000
All others—
1884
Total all-
5,COO
8,000
1885
1884
8,000
13,000
8,600
16.600
91,000
that the movement from
other than Bombay is 3,600 bales less than same
last year. For the whole of India, therefore, the total
The above totals for the week show
the ports
week
shipments since January 1, 1885, and for the corresponding
periods of the two previous years, are as follows:
INDIA.
EXPORTS TO EUROPE FROM ALL
Lvol. xl.
New York Cotton Exchange.—It has been almost
unani¬
mously resolved to suspend all business, except the first call,
on Thursday April 30, the day of opening the new Exchange.
The programme of the ceremonies is as
will meet at the old Exchange at 11
follows: The members
A. M., when Mr. J. F.
of the first presidents, will deliver the vale¬
dictory address. The members will then form in Hanover
Square, and, headed by Gilmore’s band, march to Wall and
Beaver streets and return along Beaver Street to the main
entrance of the new Exchange.
The ceremonies in the new
building will be preceded by prayer, offered by the Right
Reverend Assistant Bishop of this diocese, Dr. II. C. Potter,
Wenman,
one
provided he be able to comply with the official request to favor
Exchange by his presence and to take part in the pro¬
ceedings. Next the keys of the new Exchange will be pre¬
sented by the chairman of the building committee, Mr. Walter
T. Miller, to President Siegfried Gruner, who will then address
the meeting. Subsequently other addresses will be made by del¬
egates from other Exchanges, by invited guests, and telegrams
will be read.
The benediction will close the proceedings.
The gallery of the new Exchange is reserved for the recep¬
tion of ladies, one ticket to be issued to each member on
application by letter to Mr. Walter T. Miller, 5 Hanover Street.
There will be appropriate music between the various
addresses, and finally the band will perform several selections,
when the assembly will separate.
Jute Butts, Bagging, See.—There has been a good demand
for bagging since our last, though it is only of a jobbing char¬
acter, and goods are being taken as wanted for the present
needs of the trade. There is nothing doing in large parcels as
buyers are not disposed to purchase ahead, even at a conces¬
sion.
Sellers are steady as to price, and for the lots that are
being taken are not willing to accept less than 9c. for
lb.,
934c. for 1% lb., lO^c. for 2 lb., and 11c. for standard grades.
There is only a moderate call for butts and a few sales are
reported of paper grades. The market is firm and sellers are
quoting 1 13-16@lJgC. for paper, and
for bagging,
for spot parcels.
Some inquiry is reported for lots to arrive
at a shade under these figures.
There have been sales of 2,500
the
bales within the range.
Comparative Port Receipts and Daily
Crop Movement.
port
movement
weeks
is not accurate,
comparison of the
by
as the weeks in different years do not end on the same day of
the month.
We have consequently added to our other standing
tables a daily and monthly statement, that the reader may
constantly have before him the data for seeing the exact relative
movement
for the years named.
The movement since
September 1, 1884, and m previous years, has been as follows:
—A
Tear Beginning
Monthly
Receipts.
1884-85.
1883-94.
1832-33.
September 1.
1891-82
1880-81.
1379-80.
-
Shipments
1883.
1884.
1885.
Since
Jan.T,
Since
Jan. 1.
This
week.
Bombay
32.0C0
634,000
13,000
332,000
91,000
74,000
All other ports.
19,COO
110,600
2,50 91
45,000
423,000
90,600
774.600
31.500!
to ail Europe
from—
Total
655,000
29,000;
76 200
731.200
This la?t statement affords a-very interesting comparison
the total movement for the three years at all India ports.
Shipments.—Through
Alexandria Receipts and
of
arrange¬
made with Messrs. Davies, Benachi & Co., of
Liverpool and Alexandria, we now receive a weekly cable of
the movements of cotton at Alexandria, Egypt. The following
ments we have
the receipts and shipments for the past week
corresponding week of the previous two years.
are
Alexandria, Egypt,
This week....
Since Sept. 1<
13,568,000
Since
week. Sept. 1.
Exports (bales)—
Liverpool
To Continent
To
Total Europe
3,000
2,233,000
3,000
2,622,000
16,000
,
This
A cantar
1882-83.
This
week.
Since
Sept. 1.
Since
This
week. Sept. 1
4,000 290,000
7,000 173,000
4,000 233,000
4,000 121,000
1,000 223,000
1,000 79,000
11,000 463,000
8,000 359,000
2,000 302,000
t Revised.
is 98 lbs.
This statement shows
that the receipts for the week ending
April 22 were 16,000 cantars
11.000 bales.
and the shipments to all Europe
d.
Feb. 20
“
27
Mch. 6
“
13
“
20
“
27
Apr. 3
“
10
«
17
“
8k
8k
8k
8k
d.
©87s
©87s
®87e
®8k
8 k lbs.
83l6«8k
83ig®8k
8316-38k
83ie®8k
33lfl®8k
2? 83jp®8k
Shirtings.
5
5
5
5
5
5
5
5
5
5
February.
March...
Total year 4 552,914
d.
6
6
6
5
5
6
6
6
6
6
d
®6 9k
©6 9k
©6 9k
©6 9
©6 9
©6 10
©6 10
©6 10
©6 10
©610
OotVn
Mid.
Uplls
d.
fl.
325
d.
8k
8k
6k
Oke 8k
51^16 8k
6
6
6
6
Cop.
Shirtings.
Ivrisi.
©
©
©
©
S»18®
d.
s.
9
9
9
9
5
5
5
5
5
5
9Js
8k © 9k
© 9k 5
S1316'®9t»i6 9
515ie 87e 89k j 5
6
5k
879 ©
93s1 5
d.
s.
7
©7
7
©7
6k®7
©7
77
©7
7k©7
9k®7
I0k®7
11
©7
Uk®7
d.
2k
2k
2k
2k
2k
3k
4
4k
5
5k
“
261,913
4,595,118 5,345,670 4,290,640 5,075,110 4,480,942
9 4*73
1883-84.
3...
5,994
5,329
5,770
4,558
4...
1,830
8,873
6,155
2....
“
“
“
5....
“
6....
“
7....
“
8...
“
9....
44
10....
8.
3,676
5,340
“
15....
2,610
44
16....
“
17....
2,936
4,662
Mid.
44
18....
2,008
TJplds
44
is
19....
.
•
•
•
44
21....
44
22....
44
23....
44
6,300
S.
o/\
*d\J
S.
3,111
4,998
2,829
2,415
6,625
4,449
14....
578
515i«
956,464
647,140
447,918
88-80
90 89
86-40
89 58
1832-83.
1881-82.
18S0-81.
1879-80.
Tot.Mr.31 4,562,914 4,595,118 5,345,670 4,290,640 5,075,110 4,480,342
5,922
S.
15,516
0,612
5,344
5,050
13....
578
578
333,613
883,492
942,272
Apr. 1
“
&131«
385,933
241,514
752,827i
595,59^
482,772
453,478
429,777
853,195
963,319
974,046 1,006,501
996,807 1,020,802
571,701
487,727
572,728
291,992
476,582
257,099
782,756 bales less than at the same time in 1882-83. By adding
to the above totals to March 31 the daily receipts since
that time, we shall be able to reach an exact comparison of
the movement for the different years:
"
d.
326,656
This statement shows that up to March 31 the receipts at the
ports this year were 32,204 bales less than in 1883-84 and
12...
OotVn
8 k lbs.
487,729
Perc’tage of tot. port
receipts March 31
11....
1884.
1885.
a.
475,757
261,449
163,503
.
“
Market.—Our report received from Manchester
to-night states that the market is dull. We give the prices
for to-day below, and leave previous weeks’ prices for com-
32s Cop.
Twist.
January
“
Manchester
343,812
990,584
October.. 1,090,385 1,046,092
Sovemb’i 1,122,164 1,030,380 1,094,697
Decemb’r 1,10J,2I1 1,059,653 1,112,536
1884-85.
Receipts (cantars*)—
*
and for the
1883-84.
1884-85.
April 22
345,443
Sept'mb’r
This
week.
Since
Jan. 1.
This
week.
24....
S.
2,769
3,410
3,075
1,402
6,458
S.
3,204
3,319
6,628
2,782
11,300
18,304
7,506
9,434
15,783
8,815
s.
5
15,310
4,507
6,101
5,187
4,003
2,351
2,145
2,636
S.
3,275
2,282
3,919
2,241
S.
8,096
15,534
12,239
13,597
13,354
S.
13,264
9,431
.
10,903
8.
23,210
8.
13,035
4,022
9,512
4,170
9,980
13,656
14,912
8,237
6,338
6,243
5,264
4,717
S.
7,387
6,990
3,791
3,592
7,299
3,879
S.
5,513
4,039
9,676
S.
13,867
11,621
8,010
11,034
12,369
4,703
S.
9,252
17,026
9,085
3.465
12,886
8,612
3,899
14,679
9,005
S.
4,853
10,023
10,295
6,714
12,919
6,05 i
6,876
8,939
8,293
6,524
7,501
9,772
7,018
S.
S.
5,156
S.
9,905
7,353
5,696
4,746
6,054
6,299
S.
9,291
3,378
5,846
5,640
6,260
5,140
6
6k
63ie
6k
63,
4,643,940 4,686,696 5,582,063 4,409,865 5,309,673 4,613,149
Percentage of total
92-23
90-38
93-43
92-73
96-62
port rec’pts Apr. 24
Total
THE CHRONICLE.
1885.]
April 25,
This statement shows that the receipts since Sept. 1 up to
to-night are now 4 2,756 bales less than they were to the same
day of the month in 1884 and 988,128 bales less than they were
to the same day of the month in 1883.
We add to the table
Galveston—For Vera Cruz—April 17—Steamer Whitney, 917.
New Orleans—For Liverpool—April 17—Steamer Australian, 5.500....
April 20—Steamer Inventer, 3,565; bark Chittagong, 1,961....
April 22—Steamer Floridian, 2,424.
Havre—April 18—Bark Kate Burrill, 2,270.
Barcelona—April 18—Bark Gutenberg, 790
April 23—Bark
For
For
total port receipts which had been received
April 24 in each of the years named.
the percentages of
to
The Exports op Cotton from New York this week show
EXPORTS OF COTTON (BALES) FROM NEW YORK SINCE SEPT. 1, 1884.
Week
Exported to— ”
April
April
April
April
Total
since
2.
9.
16.
23.
Sept. 1.
to
period
previous
year.
13,176 10,489
9,898
161
1,000
6,599 346,209 300,294
31,432 18,648
Great Britain 13.176 10,650 10,893
6,599 377,641 318,942
Liverpool
Other British ports
Total
Same
ending-
Havre....
Other French ports
175
77
Total French
77
Bremen
32,403
1,637
,
39,374
Do
1,660
2,186 124,073
209
Total Spain, &o
196
200
209
12,781
15,839! 13,315
75,546
2,967
2,532
5,499
9,129 543,585 429,703
Gross Receipts
Cotton at
of
Philadelphia and Baltimore for the past
week, and since September 1. 1884.
This
Since
This
Since
This
Since
This
Since
week.
Sept. 1.
week.
Sept. 1.
week.
Sept. 1.
week.
Sept. 1.
New Orleans.
7.982
250,820
983
213,973
1,839
200’l73
TftTM
8avannah
.
..
1,757
40.9S1
163
21,005
8 986
80. Carolina..
No. Carolina..
415
110,149
12,504
17
Virginia
291
23,250
192,44^
15
9,004
1,701
50,022
806
16
11,599
10
0
17,603
1,016
29,028
151
77,017
1,493
41,675
1,000
32,500
......
1.628
70,720
70,172
128,177
15,150
4,060
60,501
5,228
287
This year...
12,347 1,101.601
4,282
359,890
2,510
95,500
2,868
193,723
Last year...
11,308 1,034,753
9,070
382,303
5,004
92,418
2,270
200,023
047
Tennessee,&c
Foreign
610
187
Shipping News.—The exports
States the past
30,871 bales.
are
the
same
week,
as per
of cotton from the United
latest mail returns, have reached
So far as the Southern ports are concerned, these
exports reported by telegraph, and published in
the Chronicle last
Friday.
include the manifests of all
With regard to New York we
vessels cleared up to Thursday
night of this week.
Total bales.
New York—To
Liverpool, per steamers Adriatic, 1.493
Alaska, 2,262
Cadiz, 359
City of Berlin, 1,357
Egypt, 534
Servia, 594
To Havre, per steamer Olinde Rodriguez, 344
To Bremen, per steamer Neckar, 432
To Hamburg, per steamer Bohemia, 1,150
To Amsterdam, per steamer Zaandam, 200
To Antwerp, per steamers Jan Breydel, 100 ...Westernland,
304
New Orleans—To Havre, per steamer Alexander Bixio, 3,462.
To Bremen, per bark Meta Seeger, 3,484
To Gepoa, per bark Emilia T., 2,405
Savannah—To Liverpool, per bark Osmond O’Brien, 1,528
Galveston—To Liverpool, per barks Alexandra, 3,015
Her¬
bert, 3,844
Baltimore—To Liverpool, per steamer Mentmore, 561
Boston—To Liverpool, per steamer Missouri, 2,101
Philadelphia—To Liverpool, per steamer Lord Clive, 1,342
Total
these shipments, arranged in
6,599
344
432
1,150
200
pool.
6,599
our
Havre.
344
1,582
3,462
3,484
burg.
Antwerp. Genoa.
604
2,405
1,528
V
V
%*
....
....
....
mmmm
932*
®32*
®32*
932*
®32*
....
sail
c.
....
....
38*
3**
38*
....
....
....
....
932*
®32*
®32*
....
....
....
.....
Hamburg, steam.c.
8ail....c.
Do
Amst’d’m, steam.c.
Do
sail...c.
....
451
....
sail
c.
Barcelona, steam.c.
Genoa, steam
c.
Trieste, steam...c.
•
•
....
••
932*
Total.
9.129
9.351
561
2,101
1,342
2,101
1,342
5,066
601
2,405
Below we add the clearances this week of vessels
cotton from United States ports, bringing our data
the latest dates:
®32*
45t
....
732®V
....
932*
®33*
®32*
®32*
V
V
V
91«*
l4®932'
*4 ®932*
....
732 ® *4* 732®^*
....
V
....
451
....
916*
....
....
....
V
....
®32*
V
lfl®9la*
®32*
932*
®32*
t Per 100 lbs.
Compressed.
Liverpool.—By cable from Liverpool, we have the following
sales, stocks, &c., at that port. We
add previous weeks for comparison.
statement of the week’s
bales.
Of which exporters took ....
Of which speculators took..
Sales American
Actual export
April 10. April 17. April 24.
41,000
3,000
1,000
39,000
3,000
Sales of the week
1.00G
43,000
48,000
5,000
3,000
1,000
•
.
•
...
33,000
29,000
27,000
36,000
5,000
6,000
5,000
6,000
Forwarded
12.000
11,000
9,000
11,000
Total stock—Estimated
1,008,000 1,025,000 1,024,000 1,024,000
Of which American—Estim’d
797,000
788,000
797,000
798,000
Total import of tlie week.
69,000
02,000
53,00 >
54,000
44.000
Of which American
44,000
45,000
40,000
Amount afloat
172,000
185.000
140,000
164,000
Of which American
116,000
100,000
76,000
120,000
.
The tone of the Liverpool market for spots and futures each
day of the week ending April 21, and the daily closing prices
of spot cotton, have been as follows:
Saturday Monday.
Spot.
Market,
f
12:30 p.m.
)
8ales
Steady.
Harden’g.
Tuesday.
8.000
1,000
8,000
1,000
pec. <k exp.
Thursday.
Friday.
Dull.
Steady.
Dull.
Small
61ie
......
Wednes.
inquiry.
6
6
Mid. Upl’ds
Mid. Orl’ns.
578
51513
5*8
6
51516
6,000
6,000
500
500
57s
51«>i6
7,0)0
1,000
£>1616
7,000
Steady.
Quiet.
Firm.
Dull.
500
Futures.
Market,
12:30 p.m.
Market,
4
P. M.
£
Steady.
Dull at
2-64 de¬
cline.
Unsettled
Quiet.
Steady at
1-64 ad¬
$
vance.
?
Easy.
\
Unsettled
Quiet
but
steady.
The
Liverpool for each day of the week are given below.
otherwise stated.
30,871
carrying
down to
and 64ths, thus: 5 62 meant
Mon., Apr. 20.
Sat. Apr. 18.
usual
561
3,806
38*
...
932
....
°16*
Antwerp, steam..c.
•
431
Reval, steam—d. 732®14* 732®V 732®V
Do
....
38
45t
45t
...
The prises are given in pence
5 62-64<f., and 6 03 means 6 3-64cL
6,859
764*
....
6,859
561
2,101
1,342
Baltimore
Boston
18.990
7£4*
mmmm
opening, highest, lowest and closing prices of futures at
These
prices are on the basis of Uplands, Low Middling clause, unless
Savannah
Total
764*
404
1,528
6,859
Philadelphia...
Fn.
3,462
3,484
2,405
1.528
Bremen Amsterdam
<6 Ham¬
and
Liver¬
New York
New Orleans..
Galveston
Thun.
c.
30,871
The particulars of
form, are as follows:
Wednes
April 2.
12 719
Florida
North’n ports
Tuts.
9,444
1,391
Mobile
*
Baltimore.
sail
Do
*
Philadelph’a
Boston.
Mon.
sail...d.
Do
follows:
as
Satur.
Liverpool, steam d.
54^254 33,050
200
New York.
freights the past week have been
Bremen, steam.*.c.
i*96
Receipts
from—
Cotton
21,208
21,238
All other
New York, Boston,
Caledonia, ship, from New Orleans for Havre, has been wrecked near
Bimini Islands, near Bahama Archipelago. It is expected that
the entire cargo (4,016 bales cotton) will be saved ahd taken to
Nassau. Up to April 13 about 1,500 bales had been saved.
30,445
2,588
10,193
the
we give all news received to date of disasters to vessels
carrying cotton from United States ports, &c.:
432
4,814
are
April 17—Steamer Indiana, 538.
Below
942
604
Nurnberg, 600.
Philadelphia—For Liverpool—April 15—Steamer British Princess, 500
4,414
451
The Following
April
Liverpool—April 16—Steamer Oranmore, 509
2U—Steamer Peruvian, 1,104.
For Bremen—April 22—Steamer
Havre, steam....c.
1,150
Ship Caldera, 4,634.
Baltimore—For
29,716
718
-
April
34,030
Total to North. Europe
13,900
Liverpool—April 23
Boston—For Liverpool—April 14—Steamer Virg nian, 1,217
17- Steamer Scythia, 666....April2l—Steamer Iowa, 1,502.
For Yarmouth, N. S.—April 18—Steamer Alpha, 50.
For Little Brook, N. S—April 22—Schooner Evaugeliue, 1
344
451
Grand Total
29,716
Norfolk-For
548
Other ports
Spain, Op’rto,Gibrplt’r,&c
Malaga—April 17—Bark Kratjevica, 1,250
April 22—Bark
Italia, 1,707.
For VeraCruz—April 18—Steamer Estaban de Antunauo, 135.
175
50
350
Hamburg
344
448
100
Catalina, 1,750.
For
a
decrease, as compared with last week, the total reaching 9,129
bales, against 13,315 bales last week. Below we give our usual
table, showing the exports of cotton from New York, and their
direction, for each of the last four weeks; also the total exports
and directions since September 1, 1884, and in the last column
the total for the same period of the previous year.
515
Tnes.f Apr. £1.
Open High Low. Clot. Open High Low. Clot.
Open High Low. Clot.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
April
5 61
5 01
5 01
561
5 61
5 61
5 58
558
5 57
5 5?
5 56
Aprll-May..
5 61
5 61
5 01
5 61
5 61
5 01
5 57
5 57
5 50
556
5 62
5 02
5 02
5 62
5 62
558
5 59
558
5 02
5 59
558
558
5 57
6 02
6 02
0 02
6 02
0 02
5 63
5 63
5 62
5 62
5 01
0 57
5 61
6 00
0 06
000
606
606
6 03
603
6 02
0 02
6 01
0 01
0 10
010
010
010
610
0 07
0 07
0 00
0 00
0 05
0 05
May-June..
June-July.. 6 02
July-Aug... 600
Aug.-3ept... 6 10
September..
• • • •
e • • •
....
....
...
....
....
..
....
....
d
••••
6 05
6 05
0 05
6 05
6 05
605
6 03
6 03
0 01
6 01
Oct.-Nov... 500
Nov.-Dee... 550
500
5 00
500
559
5 59
558
5 53
5 55
555
6 00
5 55,
550
556
5 50
556
556
554
5 54
5 52
5 52
552
Sept.-Oct...
Dec.-Jan....
•
Jan.-Feb....
...
•
•
.
....
....
....
....
•
*
*
*
*
*
*
*
•
••
*
*
*
•
....
....
•
•
•
•
....
•
•
•
....
"**
*
...
• •
•
•
5 56
555
• •
*
• •
600
•
•
••
U * •
CHRONICLE.
THE
516
Thurs., Apr. 23.
Open High Lou. Ulos.
Open High Low. Clos.
.
Open Higt.
UOW.
Clot
d.
d.
d.
d.
d.
d.
d.
d.
24.
Fri., Apr
VVednes.' Apr 22.
d.
d.
d.
d.
April
April-May..
May-June..
5 52
5 52
5 52
5 52
5 52
5 52
5 52
5 52
i
5 53
5 54
6 53
554
5 53
5 53
5 52
5 52
5 54
5 54
551
5 54 ;
5 55
5 55
5 55
5 55
5 54
551
5 53
5 53
June-July..
5 53 '5 58
5 58
5 58
!
5 59
5 60
5 59
5 61
5 58
July-Aug...
Aug.-Sept...
September..
5 62
5 62
5 62
5 02
|
5 03
6 00
5 63
6 00 I
6 03
6 03
6 03
Sept.-Oct..
Oct.-Nov....
Nov.-Dee...
Dec.-Jan
6 02
0 02
0 02
5 53
5 54
5 53
5 53
5 54
5 52
5 52
5 53
5 58
5 58
5 53
5 02
5 62
5 62
5 02
6 02
6 02
0 02
6 02
.
Milwaukee
17,340
122,110
3,980
51,857
Toledo
....
Cleveland.
St. Louis
,
.
20,100
148.294
32,280
17,880
422,765
135,360
9.000
720
5 000
119,410
191,275
23,400
Tot. wk. ’85
19J.017
895,284
209.788
25,253
5 03
5 62
5 62
5 62
5 62
Same wk, ’84
181 810
1,103,182
908,598
!
5 53
5 53
5 53
5 53
Same wk. ’>3
90,870
448,848
817,069
766,682
179,115
195,512
25.203
;
689,187
412.980
1,240,306
5 63
|
5 50
5 50
5 50
5 50
Since July
1884-5
7,489,593
6.868,092
89,172.303
76,094,071
44,080.999
1883-4
60.523.895
88,041,301
47,238,808
15.540.117
15.845,875
1882-3
7.271,579
63.036.470
70,417.333
37,940.450
14,130,322
4,173,204
0,192,697
3,642,605
5 02
5 62
5 tS2
!
5 53
5 53 ;
5 53
5 53
5 53
5 53
j
5 50
5 50
5 50
5 50
5 5o
...
!
'
.
•
-I
,
1
1
8READSTUFFS.'
Friday, P.
M
April 24, 1885.
,
inactive, with the tone variable
and unsettled, .and yet prices have varied but little.
The
export demand has materially declined, and the purchases
which dealers had made in anticipation of higher prices left
their wants pretty well supplied.
But most of the receipts
had been sold previous to arrival, so there was no great presTo-day trade was dull and
ure of stock upon the market,
The flour market has been
prices weak.
and buoyant * early in the
week under review.
The warlike advices from London caused
a renewal of speculative confidence, and on Wednesday there
was a sharp advance in prices.
But the export movement did
not show much vigor, and the weather took a very favorable
shipments of flour and grain from the same
April 18, 1885, inclusive, for four
ports from Dec. 22, 1884, to
years, show as follows:
bush
Wheat
Corn
Oats
4,005,393
3,111,228
6,665.028
9.5 46,888
25,58 4,14 i
12.271,172
2,148,551
32,084 63 L
12.676.912
Below
....
3,95 4.9 42
669,812
1.715,376
787.988
54.284,159
51,071,540
49,670,302
39,923,839
shipments from Western lake and river
ports for four years:
crop—bringing forward the winter-grown, and
promoting the spring seeding in the Northwest; and to-day,
under calmer political advices by cable, there is considerable
selling by the bull party to realize, under which prices have
further given way.
To-day there was a brisk export and a
slight decline, which caused a steadier closing.
turn for the new
Mon.
Sat.
....
....
...
...
...
1o034
100*8
99*8
975s
99*2
1013s
1023.J
102
104
1053a
....
October delivery....
Indian
...
....
....
Tues.
101
101*2
1033a
105
Wed.
101
Thurs.
101
100*2
102*2
10438
101*2
103*2
10578
105
...»
•
•
•
c
....
has shown rather more
corn
WHEAT.
PRICES OF NO. 2 RED WINTER
Fri.
100*2
99 7a
101 \
995s
103 r,8
105
1003,3
10731
....
strength than wheat,
Tues.
51 34
Wed.
55 3g
Thurs.
5434
55^8
55
do
55^8
5638
555a
50*8
50
57
5 \*4
5539
55 34
54-14
5434
In elevator
54*4
543*
April delivery
May delivery
OF NO. 2 MIXED CORN.
Alon.
Sat.
June delivery
July delivery
August delivery
....
....
....
....
Fri.
55 \
56
56
56
57
55*4
5634
57*2
....
Rye has sold moderately at full prices. Barley is nearly
closed out for the season.
O its have been much less active,
but prices have been advancing; choice qualities, in particular,
have brought extreme prices. There has been a good business
in mixed for export, and the speculation has been mainly in
early deliveries. The exports are effecting some reduction of
the visible supply.
To-day the market-is steady.
The following are the closing quotations :
Superfine
Spring wheat extras.
3 30 ®
3 50®
4 10
4 30
Wintershipp’gextras.
Winter XX A XXX..
3 90®
4
5
6
5
Minn, clear and stra’t.
4 25 ® 5 00
Patents
4 50®
5 00®
City shipping ex
3 80 ®
40
75
35
00
bush.
„
^
Total
Week
endino—
Spring, per bush.
Spring No. 2
Red winter, N#. 2
_
90
100
1
3101
CO1* 11 OHa
Red winter
90
White
93
53
Corn—West, mixed
West. mix. No. 2.
West, white
White Southern..
Yellow Southern.
® 1 09
4w’ks’84.
®1 06
® 1 03
®
e
4
55*2 ®
56
55
®
58
65
®
57
60
53
34
38
40 ki
43
88
78
43*2
63
®
9
®
®
90
81
market is indicated m the
below, prepared by us from the figures of the New
York Produce Exchange. We first give the receipts at Western
lake and river ports, arranged so as to present the compara¬
tive movement for the week ending April 18 and since Aug. 1
for each of the last three years:
27,951
768,915
858,751
727,636
904.199
81,177
90,516
101,962
168,025
8,393.889 3,259.40L
6.565,490 4,3 48,750
48 8.255
2,531,889
2,098,575
Wheat,
Oorn,
obis.
bush.
bush.
152,445
40,750
25,769
15,048
223,800
6 45,548
500
Philadelphia...
Baltimore
Newp’t News..
New Orleans...
116.669
266,150
4
33.186
36,869
142,492
851,651
44,580
Oati,
busn.
Barley,
bush
455,050
109,240
69,260
13,500
30,192
Rye
bu>h.
2,861
3,000
338,200
542,880
41,397
-
580
1,525
14,400
10,850
98.000
13,345
556,858
17.796
bus*.
56,001
16,426
the seaboard ports for the
Flour,
154,053
74,101
Rye
trl-.y,
bush.
bush.
614.013
965,048 5.437,180
B
Oats,
Corn,
bush.
420,715
12,514
29,6 47
49,890
1,200
21.692
29,815
719,300 120,377
4,641
491,035 41,000 213,071
574,481 2,471,215
Total week... 339,491
719,152
256,730 1,46 4,899
Cor. week ’84
.
The total receipts at the same ports for the period from Dec
22, 1334, to April IS, 1835, compare as follows for four years:
4,532,833
bbls.
1831-2
1382-3
1883-4.
3,870,757
1834-5.
Flour
4,831,585
3,510,935
Wheat
Corn
Oats
bush. 10,191,140
38,297,505
10,344,410
8,157,090
16,472,697
6.525,317
15,0 39,519
29,510,846
7,716.143
Barley
2,082,764
2.139,368
1,873.176
8,110,727
10,343,951
7,037,580
1,9 45,686
1,0 41.412
339,367
185,168
319,709
Rve
exports from the several seaboard ports
ending April 18, 1885 are shown in the annexed
The
[
Exports
from -
Wheat.
i
Bush.
i
Com.
Flour.
Bush.
Bbls.
267,679
590,635
78,400
155,721
25,769
22,132
283,442
226,774
171,496
301,963
93,635
77,809
27.673,112
54,479,351
34,339.334
61,235,519
Total gran...
for the week
statement:
Oati.
Rye.
Peas.
Bush.
Bush.
Bush.
25,661'
8,200
22,458
83,124
250
539
114,038
i
;
287,565
832,064 1,356,038
176.115!
|
3,729!
110,312
609,107
70,530
to-
1885.
Week.
1884.
Week,
1885.
Week.
1884.
1885.
Week,
Week,
Apr. 18.
Apr. 19.
Apr. 18.
Apr. 19.
Bbls.
Un.Kiug.
Contin’nt
S.AC.Am
W. Indies
Brit, col’s
Otb.e’n’ts
Total.
Apr. 18.
Bush.
Bush.
Bush.
655,779 1,008,830 1.013,777
327,044
226,285
329,085
Bbls.
i.
41,159
add the
Corn.
Wheat.
Flour.
34,533
42,148!
The destination of these exports is as below.
We
correspond:ng period of last year for comparison:
'
for week
26,333
12,148
150,204
8’me time
72
The movement of breadstuffs to
statements
1,349,876
260,329
Montreal
48'
40*4 ®
2,264,484
1,524,097
2,239,3 )8
1,343,073
40
4,260,191
479,521
533,612
Portland
3 25 ®
78
44
2,651,065
572.743
shipments from same ports for last four
321,821
265,312
318,012
New York
Boston
Fiue
Horn meal—
74
597.324
70.796
bush.
At—
Philadel..
Baltiin’re
N. Orl’ns.
N. News.
®
®
©
®
754,456
143,625
73,687
789,311
The receipts of flour and grain at
week ended April 18 follow:
6 10
4 60
3 75
72
91,604
276,844
Wheat,
.
5 25 ®
4 30®
76
84,177
56,001
Tot.,4 w. 1168,474 2,047,89 i
family brands
Bye tiour, superfine..
State
Oats—Mixed
White...
No. 2 mixed
No. 2 white
Bariev—No. 1 Canada.
No. 2 Canada
State, six-rowed
1,565,116
bbls.
Apr. 18,’85
Apr. 11,’85
Apr. 4,’85
Mar 28,’85
5 00
Rye—Western
81.062
207.961
1,070,755
1.537,236
479,521
1,345.336
686,030
Flour,
..
3 15® 3 30
3 35® 3 40
April 21. April 22.
97,387
88,312
April 19.
199,595
.
weeks were:
GRAIN.
Wheat-
...
The rail and lake
South’n com. extras.. $4 00®
Southern bakers’and
Western, Ac
Brandywine, Ac
.
Week
April 18.
311,040
Barley.
Rye.
New York
Boston.
Portland.
Montreal.
FLOUR.
$ ,bbl. $3 10® 3 85
Fine
.
....
though moving pretty closely in sympathy with it. But
the advance on warlike foreign news was more decided, the
reaction toward lower figures not so marked. These facts are
doubtless due to the comparatively small visible supply and
the well sustained export movement.
The close to-day is
very strong, the export movement continuing quite active.
DAILY CLOSING PRICES
bbls.
...
1882.
Week
1883.
Week
1884.
1885
Week
The wheat market was active
Wheat
Corn...,
Oats
11.814.484
5, €66.932
22,44^,805
9,306.733
5,920,517
26.3 LO, 5 47
1.520,786
the rail
are
3,044,615
621,741
2,235.84 4
Barley
Rye
Total grain
‘ 1381-2.
2,252,978
1882-3
1883-4
1384-5
nbla
Fioar
Flour
43,178
28
The comparative
DAILY CLOSING
-
75,402
5 63
5 53
Jan.-Feb....
8,934
5,000
!
5 62
5 50
13,345
10,800
6 02
5 53
5 50
12.978i
'
6 03
5 63
5 50
500
7,089
15,934
.....
3,840
36,450
4,541
5
....
...
29,250
1,440
108,226
2,135
1,87?
27.897
Peoria.
Duluth
Rye.
Barley.
Bbla.imbt Bust1.6O lbs Bush.56 lbt Bush. 32 lbs'. Bush.48 lbs Bush.56 Iba
505,541
6,954
109,704
540,251
202,881
145,098
...
Detroit
Oats.
Corn.
Wheat.
Flour.
Receipts at—
Chicago
[VOL. XL.
1834.
Week.
Apr. 19.
Bush.
213,648
356.064
227,-566
6,931
23,107
63,885
1,652
13,557
17
10.599
13,582
5,141
4,168
2,111
no
310
3,560
327
19.8 13
10,714
661
287.565
110,312
1.356.033
60.0.107
11,052
,
882.06 4 1.313,07.-
33,360
364
THE CHRONICLE.
1885.]
April 25,
Cloths.—The
Print
By adding this week’s movement to our previous totals we
following statement of exports this season and last
market
have the
517 1
following shows the
of the
course
during the week:
season:
Wheat.
Flour.
COTTON
Aug.
IS34-5.
1884-5.
1883-4.
25, to— Aug. 25 to
A ug.
Aug. 27 to
Apr. 18.
Apr. 19.
Bbls.
4,166,177
3.30S.272
280.045
S. & C. Am...
405.472
259,911
449,000
553,997
380,093
West Indies.
Brit. Col’nles
Oth. oountr’s
Total.
553,300
309,9S9
51,189
.
...
% 910,178
The visible
at the
25 to
Apr. 18.
Aug. 27 to
Bush,
Bush.
Bbls.
da. Kingdom
Continent...
Apr. 19.
19,258,270
10.538.158
48,403
1,000
17,304,251
140
8.010
23,071
17,507
22,725
4,975,198
1583-4.
35
917,048
11,235,554
1,223
37,385 :
28.003,990
18S4-5.
Bush.
23.500,021 18,282149
9.575,920 ! 0,228,003
930,931
1,210,843
282,012
281,722
115,34S
60,0 S3
70,029
115,739
34,425,300
20.233.054
supply of grain, comprising the stocks in granary
ports,
follows:
In store at New York
Do
afloat (eat.)
Wheat,
Com,
Oafs,
Burley,
bush.
bush.
bush.
bush
3,933,837
171,239
2,251,548
856,612
67,595
600
Buffalo
690.332
35,000
13,000
15,786,371
1,874,769
141,126
16,090
2,623
405,013
87,776
Albany
223,835
1,967,295
85,931
Chicago
Do
afloat
....
Newport News...
Milwaukee
Duluth
Do afloat
Toledo
7,537
1
5,034,855
Detroit
Oswego
8t. Louis
Cincinnati
Boston
Toronto
Montreal
10,774
2,346,269
1.173,706
90,000
42,398
Peoria
Indianapolis
Kansas City
Baltimore
Down Mississippi.
On rail
**..
10.000
54,165
92.599
43,221
2.764
77.428
13.529
162,904
20,000
16,272
70,000
13,7 L6
339,100
400
7,015
185,3L7
945,543
3,319
2,074
492,339
68,311
41,400
153,710
597.513
18,466
30,547
954,201
13,563
4,9 86
9,095
11,823
47,800
569,176
15,335
3*15
E'rice
Price
Sales
Quiet.
3-15
...
Sales
Price
....
Price
Sales
....
Sales
Dull.
Quiet.
3*15
....
....
Price
Quiet.
3*15
....
:Sales
....
1 Sales
!
Dull.
....
Sales
Price
315
Dull.
Price
Quiet.
....
....
...
....
„
;
|
Price
....
Sales
....
Price
....
Sales
....
Price
....
Sales
.
Price
Quiet.
....
Sales
....
....
Price
....
Sales
i
Transferable Notices—Saturday,
day, 3*15; Thursday, S' 15 ; Friday,
Total.
Price
....
Sales
....
Price
Sales
—
Price
....
Sales
Price
Sales
....
....
Price 3-13
Sales 1,000
Price
Sales
1,000
....
•
....
1
1,005
1,000
Tuesday, 310; Wednes¬
....
3'10 ; Monday. 3- 10
315.
Domestic Woolen Goods.—There
some
June.
Tone.
Quiet.
345
Dull.
Wed’day.
..
Dull
|
-
Tuesday.
Total..
7,704
10 000
1 18,001
77,72 >
30,000
542,991
5 4,515
250,77 L
55.703
Philadelphia
6,155
7,000
102.171
Rye
Price.
Dull.
Monday.,
Friday....
bush
Tone.
;
was
fair business in
a
descriptions of men’s-wear woolens, but the general
was not up to expectations, clothiers having shown
demand
6,481,503
1,634,596
Saturday.j
j
j
j
j
j
Thursday
principal points of accumulation at lake and seaboard
and in transit by rail and water, April. 18,1835, was as
May.
AprV.
Aug. 25 to Aug. 27 to
Apr. 18
Apr. 19.
Bush.
Futures.
Spots.
EXCHANGE
!
Ex >orts sine*
SALES OP FUTURES.
MARKET.
Corn.
81,716
32,935
2,500
2.698
41,193
155
17,555
,
.
133.458
15,150
35,600
4,134
2,994
1,200
217,566
great caution in their operations. Spring cassimeres were
more sought after, and some fair sales of both all-wool and
union makes were made by leading agents.
Heavy cassimeres
and worsted suitings have met with considerable attention,
and very fair orders were placed for future delivery.
Over¬
coatings continued in steady request, and a fair business was
done in satinets at somewhat low prices, while Kentucky
jeans and doeskins ruled quiet. Ladies cloths, tricots, sack¬
ings, &c., were distributed in numerous small lots (to a fair
amount) but Jersey clothes bave relapsed into a condition of
comparative quiet. Worsted dress goods were lightly dealt
in by package buyers, but fair sales were effected by jobbers.
Tot. Apr. 18,’35. 41.432,631 10,237,19)2,514.235
704.269
297.636
Tot. Apr. 11,’85. 42.724.678 11,606,392 2.589,537
335,353 Flannels, blankets
870,158
and carpets remained quiet, but an
Tot. Apr. 19, ’84.
24,479,2*0 15,530,362 3,739,927 1,037,282 1,6 )6,037
Toe. Apr.21, ’83. 21,201,544 17,681,940 4,020,629
986,623 1,703,658 improved demand for wool hosierjr was reported by agents
Tot. Apr. 22, *82.
10.8 )9,461 8,319,520 2,222,247
644,084
941,298 who are booking orders for next fall.
Foreign Dry Goods were moderate^ active in jobbing
circles, but the demand at first hands was chiefly confined to
THE DRY GOODS TRADE.
a few specialties.
Silks ruled quiet with importers, and there
Friday, P. M., April 21, 1885.
was an irregular movement in dress goods, while linens, white
In spite of the favorable weather conditions which have goods, handkerchiefs, laces, embroideries, hosiery and gloves
were only in moderate request ; and men’s-wear woolens were
prevailed during the greater part of the week, business was in
light demand by wholesale buyers.
only moderate in the wholesale branches of the dry goods
Importation* of Dry Good*.
trade. There was a moderately increased re-order demand at
The importations of dry goods at this port for the week
first hands, but comparatively few out-of-town buyers have
ending April 23, 1885, and since January 1, and the same facts
appeared in the market, and personal selections were conse¬ for the corresponding periods are as follows:
quently light. Some large sale3 of domestic cotton goods and
ginghams were however effected by manufacturers’ agents
Silk of
Silk
(by means of very low prices), and a slight improvement in at
on for
w
the export demand for domestics was an encouraging feature
a
the
of the week’s business.
The jobbing trade was hardly up to
expectations, but spring-like weather has given some impetu s
655,666
1,480,'839
503,986
53,103
70,046
Total Ent’d
to the distribution of
certain fabrics that have ruled quiet o
Flax
Total Ent’d
Cot n Wool
Flax Cot n Wool Man
Total
Flax Silk Cot n Wool
M
i
s
c
e
l
a
n
o
u
M
i
s
c
e
l
a
n
o
u
M
a
n
u
f
c
t
r
e
s
M
i
s
c
e
l
a
n
u
M
a
n
u
t
c
r
e
s
market. onsumpt
port. ornsumpt.
f
Total
Total
of—
aotures
i
of—
of—
0
tt
1
late, and retailers have made such inroads upon their stocks
on hand that jobbers expect a fair supplementary demand in
the near future. Values have not materially changed, but it
is a buyers’ market for such fabrics as are not in strict accord
ance
w
5,183 4,089 1,094
Cotton Goods.—The exports
of domestics for
ending April 21 aggregated 3,550 packages, including
1,570 to Great Britain, 718 to Antwerp, 700 to Arabia, 157 to
Argentine Republic, 133 to Brazil, &c. The demand for staple
cotton goods was chiefly of a hand-to-mouth character, both
wholesale and retail buyers having governed their purchases
by positive requirements. Brown sheetings and drills were
more sought for by exporters, but the demand by jobbers and
converters ^was strictly moderate.
[Bleached shirtings and
cambrics ruled quiet, but very low prices enabled agents and
jobbers to distribute large quantities of certain makes of wide
sheetings. Colored cottons were mostly quiet, yet some fair
orders were placed by the manufacturing trade for special
styles of cheviots, fancy shirtings and fancy denims. Prices
of all plain and colored cottons continue very low, and it is
seemingly useless to look for any improvement in values until
the equilibrium between supply and demand has been restored,
and this can only be done by a large curtailment of production
for a time. Print cloths were in light demand, but closed
firm at 3^c. plus % per cent for 64x04s, and 2%c. for 56x60s.
Prints were rather more active, and lawns were in better
request, while some large transactions in ginghams were
stimulated by low prices.
I'M®
M
-4 00
CD
4,089 3,905
O to M M CO
lO M 05 05
W
-I MM O'00
M
M W CO M tO
MO'<J®tO
ooVw-bi
My oo com
MtOW'J'M
1
1
the week
CO
'1,54608 1,2 84 32,60 29,70 4,167 95,634 12,923 10,56 EFNTORRD 1,569.27 1,2 84 346,28
with current demands.
Domestic
HMHHW
MV MCOM
240,598 130,684 109,14
00
*©t0 35
ca cc a.' m oo
WHHOQ
I
WAREHOUS
26,824 130,684 132,40
M
COM
m
MO
Oslo -4
CO M
tO -vl M O' CO
-ICPtOWtO
|
o
COOMp^l
Vjy ©woo
05 01-4
coy
1,2 84! 148,91 236, 4 15,478 25,69 16,356 Yalut. 184. Endig
I
WAREHOUS 130,684!
S
M tO M tO M
M©QC,p-4
5C5
so
•4 m ® W 02
QD OD vl 00 O'
©ooto©y
!
CO
<i y
ot
jgp
*M
CO
4,895 3,870 1,025
1,0283 873,04 154,684
m
©M 05 co to
KiHMvjW
$
MO
MW
CO CO tO to M
r-> M tO tO W
to*®y Vito
h-ocacotc
w
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y
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518
THE CHRONICLE.
.
[VOL. XL.
©gmmjetxial ©attfs*
ffitianxial Companies.
Jntxiimi £>ales.
AMERICAN
STOCKS and BONDS
FINANCE
6
PINE
At Auction.
COMP’Y,
ST., NEW YORK.
JOHN C. SHORT
FRANCIS A. WHITE
President
1st Vice-President
JAMES S. NEGLEY
2d Vice-President
THEO. B. TALBOT
8d Vice-President
WM. P. WATSON
Sec’r and Treas.
Authorized Capital
Paid In
Stock, $1,000,000.
500,000.
AND
AUCTION
WEDNESDAYS
BONDS,
SATURDAYS.
AND
ADRIAN II. HULLED &
No.
12
PINE
SON,
STREET, NEW YORK.
(Equitable Building.)
Wtzstzvu
SOUND INVESTMENT BONDS furnished to Sav¬
pal Bonds, Railroad Bonds, bought and sold.
DEFAULTED BONDS of States, Municipalities
and Railroad Companies negotiated or collected.
Will also conduct the reorgani¬
zation of railroad companies and other corporations
Whose bonds are in default or whose property is in
the hands of Receivers or Trustees.
RAILROAD LOANS negotiated.
Circulars
on
Cash
Capital, $500,000.
General Office, 160 Broadway, New York.
Bich’d A. Elmer, Pres’t. Lyman W.Briggs, V.P
This company will act as surety on Bonds required
in the Courts.
It is the only Company organized in the United
States devoted exclusively to Suretyship, and with
all its assets invested in this country.
It guarantees the honesty of Officers and Em¬
ployees of Railways, Banks, Telegraph, Telephone
and Exoress Companies, and persons employed by
corporations and business houses holding positions
of trust and pecuniary responsibility.
E. D. L. 8WEET & SONS.West’n Managers, Chicago
HENRY K. FOX, Agent and Attorney, Philadelphia
GODFREY MORSE, Agent and Attorney, Boston.
BA8COM & MUNSON, General Agents, St. Louis.
BROWN.CRAIG & CO., Gen’l Agents, San:Francisco.
gmikers.
INVESTMENT
No. 176
.
Suretyship.
NORTH
AMERICA.
Cash Capital
$300,000
Cash Assets
400,000
Deposit with Insurance Department
214,000
President:
Sir alex. T. Galt.
Vice-President:
Hon. Jas. Ferrier.
Managing Director: Edward Rawlings.
BROADWAY.
D. J.
TOMPKINS, Secretary.
New York Directors—Joseph W. Drexel, a. L
Hopkins, H. Victor Newcomb, John Paton, Danie
Torrance. Edw. F. Winslow. Krastus Wiman.
FIDELITY
&
CASUALTY CO.,
NOS. 214 & 216
BROADWAY, NEW YORK.
Cash Capital, $250,000.
Assets, $512 026 11.
Deposited with the Insurance Departm’t, $200,000.
Officials of Banks, Railroads and Express Compa¬
nies, Managers, Secretaries, and Clerks of Public Com¬
panies, Institutions and Commercial firms, can obtain
BONDS OF SURETYSHIP
from this Company at moderate charges.
The bonds or this Company are accepted by courts
of the State of New York.
CASUALTY DEPARTMENT.
death or
totally disabling injuries.
Full information as to details, rates, Ac., can be
obtained at head office, or of Company’s Agents.
Wm. M. Richards, Prest.
John M. Crane, Sec’y.
Rob’t J. Hillas, Ass’t Secretary.
DIRECTORS:
W. G. Low,
David Dows,
A. S. Barnes,
Charles Dennis,
H. A. Hurlbut, Alex. Mitchell,
J. D. Yermllye, 8. B. Chittenden.
Geo. S. Coe.
Wm. M. Richards.
MANHATTAN
Safe Deposit& Storage Co
346 Ac
348
BROADWAY,
Corner of Leonard Street
NEW
YORK.
Safes to rent from $10 to $200 per year,
AND CAN BE RENTED FOR A
DAY
WEEK
OR
Fabius M.
Texas Land &
COMPANY
(OF
Transact
a
TOPEKA,
LAW,
KANSAS.
Commercial and corporation law and municipal
bonds, specialties.
References: Hon. D. J. Brewer, U. 8. Circuit
Judge; Corbin Banking Co., New York; Eastern
Banking Co and Gen. F. A. Osborn, Boston, and the
Bank of Topeka, Topeka, Kansas, 5
Lincoln Mills.
BOSTON, 31 Bedford Street.
vrpnr
c 58 & 60 Worth Street, and
nlw
& 37 Thomas Street.
STREET,
Bliss, Fabyan & Co.,
New York, Boston,
Philadelphia,
BELLING AGENTS FOR LEADING BRANDS
BROWN Ac BLEACHED SHIRTINGS
AND
Mortgage
SHEETINGS,
Towels, Quilts, White Goods Ac Hosiery
Drills, Sheetings, <tc„ for Export Trade.
LIMITED, '
LONDON, ENGLAND),
BAGGING.
general Financial and Agency Business in
the State of Texas and Europe.
New York Correspondents;
Blake Bros. A Co.,
Wall Street.
C. E. WELLESLEY,
General Manager,
Dallas, Texas.
ESTABLISHED
305
OLIVE
WARREN, JONES & GRATZ,
ST.
1871.
LOUIS, Mo.
Manufacturers’ Agents for the sale of Jute
P. F. Keleher &
Co.,
IMPORTERS
STREET, ST. LOUIS,
IRON
Bagging
OF
COTTON
TIES.
Dealers In Western Securities.
Bullard &
Defaulted Bonds of Missouri, Kansas and Illinois a
pecialty. Good Investment Securities, paying from
Wheeler,
X to 10 per cent, for sale.
President.
*
119 MAIDEN
STATE BANK, )C. T. WALKER
Incorporated 1875. J
Cashier.
NEW
BAGGING
Bank,
LANE,
YORK.
IRON TIES,
AND
(FOR BALING COTTON.)
Agents for the following brands of Jute Bagging.
Eagle Mills,’’“Brooklyn City,’’"Georgia,’’"Carolina^”
“Nevins, O,” “Union Star,” “Salem,” ‘*Horicon Mills.”
Jersey Mills ” and “ Dover Mills.”
“
LITTLE
ROCK, ARKANSAS.
Capital (Paid in) - - - $200,000
Prompt attention given to all business in
our
“
IMPORTERS OF IRON TIES.
line.
N. Y. Correspondents.—Importers’ & Traders’
National Bank and National Bank of the Republio.
BhermanS. Jewett, Pres. JosiahJewett, Y.Pres
William C. Cornwell, Cashier.
Bank of
Buffalo,
^’uhlicatiims.
Littell’s Living Age.
^ rpHE
$300,000
CAPITAL,
forty
A WEEKLY MAGAZINE
it gives more than
THREE AND A
Co.,
Periodical Literature.
COTTON SAILDUCK
It is therefore invaluable to every American
jader as the only satisfactorily fresh and COMLETE compilation of an indispensable current
terature—indispensable because it embraces the
roductions of the
ABLEST
And all kinds of
i
FELTING
DUCK,
CAB
CANVAS,
COVERING, BAGGING, RAVENS DUCK, SAIL
TWINES, AC., “ONTARIO” SEAMLESS
BAGS, “AWNING STRIPES.
COTTON
Also, Agents
A full
STATES BUNTING CO.
ESTABLISHED 1855.
Successor to
R. Cole,
SEARS A COLE,
STATIONER AND PRINTER,
Supplies Banks, Bankers, Stock Brokers and Cor¬
porations with complete outfits of Account Books
and Stationery.
IF" New concerns organizing
ders promptly executed.
No. 1
will have their
or¬
WILLIAM STREET,
(HANOVER SQUARE.)
LIVING
WRITERS,
all branches of Literature, Science,
Politics and
irt.
“
Nearly the whole world of authors
and writers
*
ppear in the Living Age in their best moods. *
science and literature find fresh and eloquent
xpression in its pages from the pens of the best
Titers of the day; and the reader is kept well
breast of the current thought of the age.”—Boston
oumal.
It has now for many years held
II our serial publications. * *
“
supply, all Widths and Colors, always in stock
No. 109 Dnane Street.
Eugene
QUARTER
THOUSAND
double-column octavo pages of
reading matter yearly. It pre¬
sents in an inexpensive form,
considering its great amount of
matter, with freshness, owing
to its weekly
issue,and with a
jmpleteness nowhere else attempted,
he best Essays, Reviews, Criticisms, Serial and
Short Stories, Sketches of Travel and Dis¬
covery, Poetry, Scientific, Biographical,
Historical and Political Information,
from the entire body of Foreign
Manufacturers and Dealers In
UNITED
and has met with
success.
Cards.
Brinckerhoff, Turner
&
years,
continuous commendation and
This bank has superior facilities for making collec¬
tions on all accessible points in the United States,
Canada and Europe.
Liberal terms extended to
aocounts of bankers and merchants.
Correspondents.—New York, National Shoe A
Leather Bank; Union Bank of London.
Commercial
LIVING AGE has
■! JL been published for more thau
BUFFALO, N. Y.
MONTH.
Clarke,
ATTORNEY AT
FOR
Mfg. Co..
Arlington Mills,
Freeman Mfg. Co.,
Renfrew Mfg. Co., James Phillips, Jr*
Fitchburg Worsted Co..
George Whitney,
Continental Mills,
yokk^35
The funding of entire issues receives special atten
tlon. Write us if you wish to buy or sell.
Policies issued against accidents causing
Geo. T. Hope,
G. G. Williams,
J.S.T.Stranahan,
A. B. Hull,
Brown,W ood&Kin’gman
State, County, City, Town, Schoo
and Car Trust Bought and Sold.
BONDS,
NEW YORK OFFICE:
NO. Ill
BANKERS,
DEARBORN
German National
BUSINESS.
The Guarantee Co.
OF
Co.,
CHICAGO, ILL.
D. G. FONES, (
OTHER
Ellerton New Mills,
White Mfg. Co.,..
Uncasville Mfg. Co..
Underwear and Hosiery Mills.
PRINTS, DENIM3, TICKS, DUCKS, A0.
American Surety Comp’y
NO
Peabody Mills,
Saratoga Victory Mfg. Co.,
THE
application.
SURET YSHIP.
Bonds of
Atlantic Cotton Mills,
SELLING AGENTS
N. W. Harris &
CALL AND TIME LOANS made on United States
Bonds and good Municipal and Railroad Bonds.
FINANCIAL AGENCY for railroad companies and
other corporations.
Ocean Mills Co.,
Geo. H. Gilbert
ings Banks, Insurance Companies, Executors and
Trustees of Estates, and individual investors.
UNITED STATES BONDS, State Bonds, Munici¬
BOSTON.
Cliicopee Mfg. Co.,
ON
<
15 Chauncey Street,..
NEW YORK.
AGENTS FOR
The Undersigned hold REGULAR
SALES of all classes of
STOCKS
Joy, Lincoln & Motley,
86 A 88 Franklin St.,
the first place of
The only possible
bjection that could be urged to it is the immense
mount of reading it gives. * * There is nothing
oteworthy in science, art, literature, biography,
hilosophy or religion that cannot be found in it. * *
is readers are supplied with the best literature of
ie
“
day.”—The Churchman, New York.
truthfully and cordially said that It
offers a dry or valueless page.”—New York
It may be
ever
It is one of the marvels of the age.”—Spectator,
Hamilton, Canada.
Published weekly at $8 00 a year, free of postage;
r for
$10 50 The Living Age and any one of
tie American $4 Monthlies (or Harper's Weekly
r Batar) will he sent for a year, postpaid; or for
9 50 The Living Age and the Si. Nicholas or
“
ippincott'8 Monthly. Address,
LITTELL Ac CO.,
Boston.
@FedFRASER