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xmmt
HUNT'S MERCHANTS' MAGAZINE,
REPRESKNTINQ THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE. UNITED STATES.
VOL.
SATURDAY, APRIL
60.
26,
NO.
1890.
1,296.
Transactions in stocks at Boston, also, were of heavier
in the preceding week or the week of 1889,
Clearing houses have lately been organized at Salt Lake City
Terms of Subscription— Payable in Adranee:
and Toledo, and through the courtesy of the managers we are
$10 20
For Ono Year (includlnK postage)
enabled to include their returns in our statement.
do.
6 10
For Six Months
Compared with a year ago the week's exchanj^es record an
11 50
European Subscription (including postage)
increase of 12'5 per cent, all but four cities contributing to it.
European Subscription Six Months (including postage).
6 75
The New York figures exhibit a gain of 10' 1 per cent, and the
Annual Subscription In London (including postage)
*2 89.
*1 9s.
Six Mos.
do.
do.
do,
aggregate for all other cities show an excess of 16'4 per cent.
These prices Include the Investors' Supplement, of 150 pages, The most important gains have been at Fort Worth, 184-9 per
issued once in two luonths, and furnished without extra charge to
Tacoma, 119-7; Minneapolis, 116-8;
cent; Buffalo, 154-4;
subscribers of the Chronicle.
A Ule cover is furnished at 50 cents; postage on the same la 18 Dallas, 100-2; Washington, 86-9; Sioux City, 84, and Lexington,
72-3 per cent.
cents. Volumes bound for subscribers at $1 00.
Subscriptions will be continued until deUniteiy ordered stopped. The
drafts
publishers cannot be responsible for remittances unless made by
Week Bniing AprU 19.
Week End'sAprUia.
or Post OIBce money orders.
city.
volume than
Terms of Adyertiaingr.
Advertisements ordered for less than one month, in the Commercial
A Financial Chronicle, are published at 25 cents per line each insertion. When orders arc definitely given for one month or longer, a liberal discount is allowed, and the net price* may be obtained on application at the office. The lowest rates on permanent cards dcflnitely ordered for one year are 8 cents per line each insertion, making $58 for
one inch space one year, Space is measured In agate type— 1-t lines to
the inch.
ILondon Agents:
Is. each.
(
DANA &
WIlitlAOT B.
Co.,
PabUsbers,
NEW YORK.
p^jg^ OFFICE BOX 958
10* IVIlIlam
S
f
698.0«4.595
Street,^
(969.451
(497.000)
(Groin
(Pitrol«um
husheU.i a03.4i).1,»S0)
bbU.\
(4,130,000)
Hertford
l.l?3.403
1,!S3,8I»
1,07«,«1H
79«,H69
447,420
1.222.76-1
-4-0
1.153,153
1.054.213
611.171
-I-1-7
-t-84-3
401.244
117,227,465
110.051,300
74,984,461
New Hnven
l,«-«,>'30
Worcester
etc. (as fully
The following table,
Riiffalo
explained on this page iu our issue of October 26 and previous
WLlmtnKton, Del
total
bank
clearings
of
all
the
numbers), indicates that the
SyrticuBe
clearing houses of the United States for the week ending toTnta.1 Middle
day, April 26, have been $1,161,247,876, against 11,143,751,328
Cincianati
last week and $993,240,162 the corresponding week last year.
Milwaukee
Detroit
New
1890.
1889.
Percent.
Beaton
PhilailelpMa
Baltimore
Chicago
St. Lonls
New Orleans
Seven cities, 5 days
Other cities, 5 days
Total
all cities,
6 days..
AU cities, Iday
TotAl
all cities for
,
week.
$508,865,832
64,916.285
56,149,186
9,486,104
51,256,000
13,031,020
8,155,925
•fl3-8
$827,91-; ,050
-(-18-3
121,219,613
$711,860,332
84,161,413
«949,138,6e3
212,111,218
$796,021,716
197,218,417
-t-ia-2
tl.161.117,876
-f31-2
-i-13
6
71.49M04
16,76i),4«5
-H16
-803
15.7. 5.1.71
-(-16-9
14.779,042
1 1.260
«05
f31-2
6,a7l.6l!l
2.5S«.287
-l-lM-4
-(-147 -0
1,932.569
l,034.10fl
+86 9
15,247.194
6.402.601
l!.l 91.754
974,»SS
882,303
810,478
-f«0-J
80.t,6:«
866,471!
t18
765.663
+83-5
-3-8
-4-0
116,175,414
97,066,927
-H9-7
112.632,510
-fie?
78.296.238
13,0l».»C0
4.515.177
65,895.908
10.676,90U
4.416,119
74.055.813
-H4-1
5.5»7.8il8
4.2ll.ll6i
-t-18-8
-)-22 8
->!-2
-(-82 7
l*eorU
we go
to press Friday night.
-I-6-5
749,66'i
641,521
fl6-8
this
-(25
-(-16-8
-1-19
8
108,814,381
13,914.966
638.0'tO
+11-5
—6-1
(156.032
-80 -6
341,450
-(-119-7
75H,56M
-(-IKO*
-18-4
2,018,01.9
1,6.0,427
1,S84,US8
Lake C.ty*
MtnneapoUfl
Paul
DeoTer
Duluth
Joseph
16,695,963
17,428,916
-I-ISO
15.330,565
-10-1
10,441,401
5,»17,««8
4,518,538
4,883,662
4,544,344
1,8»6,8S3
1.4!5,*5«
9,151,673
2,59;,074
3,247,446
4,106,181
3,662.401
H41
-(-116n
9,466,624
5.070.02s
S.9ln.446
4.7&3.4tM
fin
&.435/M1
-(-84J
7e7,!<93
Below
due in large part the increase iu clearings at
-
-fUM
1,0I8J«7
Sail
Ontaide
is
1.81S,7»t
75O,0Oj
1,746,91^
are our usual detailed figures for the previous week, that is Memphis...
covering the returns for the period ending with Saturday Ga'Teston
Dallas
noon April 19, with the comparative totals in 1889,
Norfolk
The exhibit is a very satisfactory one, a majority of the
cities recording gains over the previous week, and in the Nashville*
Ulrmlngham*
aggregate the increase reaches eighty-one and a quarter
Total Southern
million of dollars. There has been a more active speculation
Total all
on the New York Stock Exchange during the week, and to
that fact
2.517.600
1.162,516
1.451,972
743.808
1.198,076
1.4i!S.28i
16,44»,386
the week covered by the
above statement will be given next Saturday,
cannot, of Des Moines
course, furnish them to-day, bank clearings being made up by Topeka.
the various clearing houses at noon on Saturday, and hence in
Total other Western.,
the above the last twenty-four hours of the week have to be St. Loots
in all cases estimated, as
-i-S6-8
-16-6
3.10V.710
8,765.100
1.519.870
-1-27 -8
94,660,113
Wichita.
Sioux City
We
4..TS0.1W1
18,848,783
St.
full details of clearings for
-t-7-O
-Hll-8
4-52-4
113,391.390
St.
The
+9-3
+845
8,1HH,074
5.524.952
l,lb9,757
Toledo'
-48
U.9S9.400
l,730,e4B
4,748.584
Kansas City
-hl6-9
-9^3
-1-6
66.569,898
13,M35,«21
-(-44
993,240,162
-(-12-3
-16-S
-I-16-6
•f7-6
1.3110.417
1.II40.318
+13 3
368.938
-i-26-2
+29-7
-13-8
-(-18-3
107.836.384
,
Total Middle Western
=51
2.168,081
1.405.102
-f6-5
S,«!10.HaO
J379.213.P21
85,173,o»4
03,702,156
11,050,367
64,700,000
16,905,f04
7,112,268
+»l
4.Ml6.rl0O
-t-116
(ir«n<l Ilaplda
York
-h31-2
94.S71.280
— 0-7
(—S«-S)
(-644
-(-101
Cleveland
28.
630,242,035
F.Omt.
1.0«7.I95
717.816
PortlHQd
Lowell
PittsbufK
Wetk Ending April
-HOI
1880.
(850.841) (H-13-9)
(678,6191
I531.6O0I I —6-5)
(192,800'
(34,426.5501 C-^2'0«l (183,75r<,185
(»,6JB.0OO) 1-57-8)
(3,648,000)
+6-6
+1-8
-H3-1
made up by telegraph,
Clearings,
Rtturna by TeUgrapK
628.774.982
97.948,85*
5.039.900
1,610,790
978,004
104.214.024
6.12S.700
l.hae.STf
New Bedford
Total New Bngland...
CLEARING HOUSE RETURNS.
P. Ont.
1889.
o/—
ProTldenoe..*
Kdwards &
nnirr.u n ,,.«.
ttSv fi
otAviV
JOHN
O. FLOYD.
Mew York
.Sate*
IJoston
Smith, 1 Drapers' Gardens, E. C, will take sub
Bciiptions and advertisements and supply single copies of the paper at
Messrs.
1890.
New 7ark
-(3H-0
-H7-5
+Ul
1,S77.8«
-HJ4
1.7611.468
-|-24'9
-(-14-8
I,446,a.W
834,337
H-Sl-7
-(16-8
45n,VS8
686,294
•t84-0
-H»-l
5H><,632
-t-10
^8
-(-15-*
400.460
-0-7
888.)M4
671,022
604,3.8
383,000
88,500,766
27.996.483
-1-30-4
36,113,86;
21.871,774
8,78x,858
7,188.086
».140,S70
17.899.475
-(-S8-4
28.601.770
1660.272
+1-8
9,<IU&.4ll8
6,276.763
8.175,419
2.125,149
-I-14-5
4
-1-8
-(-3-6
1,096,610
I,S13,S80
1,061,681'
+83
656.^
-1^1008
19»»,7Se
466,361
-(-184-9
722,041
.,;i«,661
-1-34-8
603.0611
2-J2,318
-(78^
571.000
8.164 .Si;
428,000
-t-83-1
-W4-4
+«•«
7,013,4S0
8,463.407
2,1*1,960
1,437,»90
1,256,017
1,073.644
781,743
^+6^
539,4.S8
620,501.
-H>8-3
•fso-a
-Ub-s
^-u-6
S.107,4««
907,494
948.83';
47,e96,74(
S»,670,828
1,148,791,88}
1,018,948,913
450,8l«.78t
!!87,178,961
'NotlDOludedtn toUla.
-US
1,132,»51
668, 16«
84t,415
086,540
627,953
373,375
2,2<i0,000
-f45-0
-fl9-3
61,566,166
-t-84-5
-H8-5 1,061,535.838
-(16-4
431.293,603
+10-()
JHE CHRONICLE.
672
TEE FINANCIAL SITUATION.
All business interests, so far as they are centred in Wall
have been dominated during the week by the
Street,
varying prospects of silver legislation at Washington.
Money has been
many months
in such short supply for so
and speculation has concurrently been
so stagnant, that
[Vou
li.
was temporarily not well supplied, and comparatively
sums were loaned at 8 jier cent. But immedi
ately thereafter the offerings were liberal and the rate
dropped to 4 per cent. The average for the week has
been about 4 per cent, at which renewals have also been
made. The minimum rate at banks and trust companies has likewise been 4 per cent, though some of the
large
the public mind has been led to associate the one with institutions not well supplied with funds sought to
Hence the idea widely obtain 5 per cent. For time loans tlie inquiry is light
effect.
prevails that an inflation of the currency is all that is and
of money offering is abundant.
the supply
needed to stimulate every industry. Some discrimina- Prime collateral is no longer demanded and contracts
tion is no doubt made by many as to the kind of cur- are made on good security at 4J per cent for four, five
the other as cause and
rency which would be most useful; but as a rule an
to
be the one
easy money markit is believed
jdesideratum, and which when attained will be certain
to usher in a season of lively business at high prices,
months and at 5 per cent to January 15th,
the end of the year money has been
offered on good dividend-paying stocks at 4^ per cent.
There is a good demand, especially from our city insti-
and
six
1891.
To
whatever be the character of the
'
currency issued. tutions, for commercial paper, but the supply does not
Another week we may write at greater length on that increase. Out-of-town paper, esi)ecially Western, is
point.
In a subsequent column we have discussed not taken as freely as formerly, though this paper has
one currency illusion, and we hope to follow that hitherto been an important feature in the market.
up with a similar treatment of others connected with Eates are 5 per cent for sixty to ninety day endorsed
the current agitation.
Of one thing all may be as- bills receivable, 5^ per cent for four months' acceptsured, and that is that no good but only harm to our ances, and 6@7 per cent for good single names having
industries can come from an abundance of currency from four to six months to run.
which fails to receive the confidence of capital. So
The Bank of England minimum rate of discount relong as we are withdrawing bank notes, and business mains unchanged at 3 per cent, but in consequence of
keeps active so as to give employment to our currency the important loss of bullion and the activity in specuissues, we can find a field for our silver dollars to lation and in trade, the open market rate is a little firmer
occupy but when that vacuum so made is filled, unless than it stood last week, the quotation for sixty to
we can make another, the time that will try our work ninety day bank bills being now If @ l^- per cent.
The
will be upon us.
If the public is determined, there- The open market rate at Paris is 2:^ per cent.
fore, to have more silver currency, should it not at least Bank of England lost £482,000 bullion during the
seek to have the best ?
week. This, as we are infornied by a special cable to
Money without waiting for help from new silver us, was due to an export principally to the Cape and to
issues has been growing easier through the week. This France of £497,000 and to shipments to the interior
tendency presumably reflects future prospects with of Great Britain of £28,000, offset by receipts from
The Bank of France gained
respect to currency legislation as well as increasing bank Australia of £43,000.
reserves.
this
Still the former influence is more likely £629,000 gold
week.
slight, since there is sufficient in the facts that reserves
Our foreign exchange market was quiet but firm
have gained during the week, and that they will con- early in the week with an advance of ^ cent by some
tinue to gain during coming months, to make money drawers on Tuesday.
Wednesday there was an easier
lenders eager to find employment for their funds tone for sterling, while continental was steady to strong
The market for the former was
at as good advantage as possible before the summer ease at unchanged figures.
is felt.
Evidence is to be seen in last Saturday's then affected by offerings of bills against securities
bank return, that even the banks which are bought for European account, and this buying continued
always
most
liberally
supplied
with
loanable on the following day, causing a fractional reduction in
funds were engaged putting out their money. For, ac- the rates for actual business. On Friday the nominal
;
,
cording to that statement, four of the larger clearing rates were marked down one-half cent, the quotations
house institutions reported only $1,763,800 surplus, posted by all the drawers being 4-8G for long and 4-88
while all the associated banks had $1,324,450 surplus. for short.
The Government trade figures to the close
That would indicate a comparative low condition of of March have been issued this week by Mr. Sidney G.
these large banks quite unusual with them, for during the Brock, Chief of the Bureau of Statistics, and the folstringency in the market they have generally held pro- lowing is a synopsis of them.
portionately a
much
the total reserve.
heavier surplus as compared with
would only be
1889.
1890.
Exports.. 51218,296,455
Imports.. 193,634,727
$202,462,840
196,839,516
by monthly instalments that the
Excess. $24,661,728
$5,623,324
to the influence on the
•of coming silver legislation,
tit
^Ihree mos. ending Meh. 31.-v
market
be remembered that
As
it is
to
.—Kine moe. ending Meh. 31.^
1890.
1889.
$683,718,950 $583,180,363
549,632,060
571,817,584
$111,901,366
$33,548,303
This shows how decided the improvement is as comWe
increase during the first year over the present coinage pared with the corresponding periods last year.
would be about 20 million dollars, with silver at a dollar may say, also, that for March the excess of merchandise
an ounce, increasing however as silver advanced in exports over imports is nearly 5^ million dollars, against
price.
In case the quotation for silver should rise to only $2,718,007 in March, 1889.
$1 29J per ounce, its old equivalent, the total yearly
Quite an event of the week in the industrial world
addition to the currency would be about 34^ million has been the announcement of the incorporation of the
increase of currency would be effected,
and that the
which would firm of H. B. Claflin & Co. as a joint stock company,
and the offering of part of the capital stock for public
Money on call at the Stock Exchange this week has subscription. The event is noteworthy not only beloaned at 9 and 2|- per cent. The higher rate was the cause of the character and extent of the business of the
result of a late demand at a moment when the market house, but also because it practically marks a new depart
dollars in excess of the present coinage,
just about double our annual supply of silver currency.
Apbil
THE CHRONICLE.
26, 18S0.J
ure in the conduct of mercantile business in this country.
Joint stock industrial undertakings are common enough
in Great Britain, but in the United States they are more
67»,
Thus the consumption
March, 1890, was 220,000
Of course, as compared with earlier years the result is quite different, bat
or leas an innovation. Many of the breweries pur- in those years the conditions were unusually favorable.
chased by foreign capitalists have been turned into this Stocks are still large almost a million tons but as the
form of organization, but that is something quite dif- policy of restriction is to be continued, the companies
ferent from the conversion of an ordinary mercantile have it within their power to get the trade well in hand.
The March statement of earnings of the Pennsylhouse.
Nor is the H. B. Claflin Company to be compared with the various industrial trusts sugar, lead, vania Railroad shows that this large and representative
which have been such a fea- system of roads is increasing its business in the same
cotton seed oil, &c.
There are, indeed, marvelous manner as heretofore. As compared with
ture of the last few years.
no points of resemblance between it and them. It the corresponding month last year the gain in gross
neither a combination nor a monopoly, but de- earnings reaches the large sum of $674,579, and this
is
pends for its success chiefly on large and quick sales, merely on the lines east of Pittsburg and Erie. In
which reduce expenses to a minimum and at the ratio the gain is over 14 per cent. The net results
same time allow business to be conducted at a small would seem to be not so satisfactory, as the gain there is
margin of profit. In this way the firm has been only $58,171. But it is known that the company is
raised to a position where in point of transac- very liberal in its outlays for repairs and renewals, and
tions it is claimed to excel any other commercial house moreover our Philadelphia contemporaries state that
in the world.
Hence though the experiment is a new much of the ordinary spring work has this year been
one, it is launched under favorable auspices.
The cap- done in March instead of later in the season as usual.
ital is to
be $9,000,000, divided into $3,000,000 The following is a comparative statement of earnings
in
tons greater than in March, 1889.
—
—
—
—
of 5 per cent first preferred shares, $3,000,000 6 per
cent second preferred shares, and $3,000,000 of common
Members
stock.
of the present firm will subscribe for
$6,000,000 of the stock, so that only $3,000,000 is
Moreover, John Claflin person-
offered to the public.
ally engages to hold not less
than $3,000,000 of the
stock for a period of five years, and also
if
desired to
continue in the presidency of the company during that
Taking the net
time.
few years, and
and 2d preferred
profits of the last
allowing for the dividends on the 1st
for a series of years.
SA8T or
Pittsburg.
liINEH
March.
Oro6S earnlnKa
Operat'K expenses.
Net earnings...
Western lines
Result...
1890.
1889.
1888.
$
«
6,470,715
4,796,136
4,626,561
4,410,43,S
3,901,866
3,8:3,444
3,207,036
3,035,948
2,974,402
2,696,075
3,636,S7«
2,474,266
1,647,271
1,689,100
1,490,613
1,435,941
1,305.780
1,161,100
-36,770
-81,742
-06,045] +212,702
+20,819
-84.206
1,610,492
1,657,858
1,326,099
1,076,901
1,304,568
1887.
1886.
1886.
*
1,648,643
t
Jon. ltd ^priil.
15,464,117 13,746,038 13,099,996 12,250,992 10,872,866 0,988,596
Gross eamlnKS
Operat'g expenses. U,115,669 9,684,700 9,246,178 8,220,543 7.347,941 7,006,424
Net earnings... 4,348,448 4,061,338 3,854,817 4,030",449 3,524,925 2,982,172
found that the profit for the common shares
Western lines
+51,290 -181,844 -150,957 +371,128 -168,470 -332,195
would have been 12-06 percent in 1886 14-53 in 1887
Besalt
4,300,738 3,876,404 3,703,860 4,401,577 3,3.W,465 2,649.677
12-53 in 1888; and 15-13 in 1889.
As to the reason for
While the net result for the month thus does not
the change from a partnership to a joint stock company,
differ
much from that for last year, for the quarter the
it has been rendered necessary by a provision in the
will of the late H. B. Claflin, providing for a division company on the combined eastern and western lines is
of the estate five years after his death.
The incor- over half a million dollars ahead of 1889. The Union
poration of the concern is made to facilitate such Pacific is situated in an entirely different part of the
country, and yet that road also is able to show an exdivision.
shares,
it is
;
The impression
prevails
the
that
;
anthracite coal
ceptionally large gain in gross earnings for the
month
—
and from the $614,828 though in that case perhaps the improveadvance in tlie price of the. coal shares on the Stock ment may in part represent traffic delayed in the
Exchange it would seem that there is some ground for months preceding on account of the bad weather then
this impression.
The facts are not entirely clear. In prevailing on the Pacific Coast. The Reading return is
Philadelphia prices for coal would appear to have been likewise quite favorable this time, showing $199,270
further demoralized as the result of the action of a gain in gross and $53,381 in net.
It has been a period of increased activity and rising
l*rge firm of individual operators, but here in New
York the tendency is evidently in the other direction. prices on the Stock Exchange thjs week. Nearly all
The March statement of production and stocks, issued classes of securities have shared in the upward movelast Saturday, certainly offers encouragement to those ment, and at times the market has been positively
While current conditions have quite gentaking a more hopeful view of the situation. During buoyant.
the month stocks at tidewater points were decreased erally favored the rise, the special impulse came from
156,071 tons, on a production slightly larger than in the agreement between the Senate and House committhe corresponding month last year. Not only that, but tees of Congress on a form of bill for the increased use
This, the argument is, will bring about a
after allowing for the changes in stocks it is found that of silver.
consumption, as measured by the amount of coal going general inflation of values, and hence the sentiment
out of the hands of the producers, was considerably in runs in favor of a continued advance in stock prices.
excess of last year.
Here is our usual table, prepared There has been no change in the Western rate situatrade
is
getting
into
better
shape,
with a view of bringing out that
tion
fact.
;
the disposition
is
either to ignore this altogether,
or else to look for an early
Jdnttary
Afore k.
AnavraeUe
March
31.
Coat.
1880.
Stocks
1 to
beKlnning
1880.
1888.
TVmj.
837.216
Totu.
232.501
1800.
Tons.
1,026,107
6,244,402
1889.
1888.
7bn».
033.156
7ont,
130.977
6,823,854
7.460,743
7,600,720
7,135.011
of period
1.148.380
Production
2.;05.101
2,103,063
2,683,728
Total supply ..
St'k end of period
S.253.SH
8,940,279
7,?70,50e
BSI2.309
898,78S
2,918,820
405,700
992,309
7,476,410
896,783
Consnmption...
2,261,532
2,041,496
2,462.520
6,278,200
6,676,627
464,700
The Gould
improvement in that respect.
properties have been perhaps less prominent
than others in the speculation, lagging a little behind
the rest of the market, though yesterday Missouri
Pacific took a spurt upward.
The following statement, made up from returns
lected by us, shows the week's receipts
of currency
and gold by the
New York
col-
and shipments
banks.
THE CHRONICLE.
674
Wetk Ending April
Gold
Total goia and legal tf ndera.
Taking the foregoing
The
$l,353,0O0lQain. $1,100,000
its
is
as below.
Bank
Holdlngg.
$1,823,000 Gain. $1,100,000
100,000
11,400,000 Loss.
$2,423,000
11,300,000
$1.S,72?,000 $12,723,000 Gain. $l,000,00f>
European banks
corresponding date
Net Chiftge in
Out of
Banks.
Into
following table indicates the
in the principal
amount
this week,
of
bullion
and
at the
1
1
AprU 25,
Silver.
23 146 633'
England
France
Germany"
Aust.-Hung'y.
Total.
Gold.
£
£
£
1889.
7otal.
Silver.
£
£
22.287,492
22.287,492
40,495,000 49,470,000
89,965,000
31,203,333 15,601,667
46,806,000
5,445,000 15,638,000
21,083,000
6,068,000! 6,686.000
11,754,000
4,118,000
23,146.633
Netherlands...
4.682.0001 5,752,000
10.434.000
Nat. Belgium*
2,812,000
1,406,000
4.218,000
2,745.000
1,373,000
[
Tot. this week 114,591,300 87,639,333 202.230.633 107,243,825 88.708,867 196,012,492
Tot. prev. w't 114,508,581 87,431,600 201,940,181 107,019,289,88,888.000 195,887,289
• The division (between gold and silver) given in our table of coin and
bnlllon In the Bank of Germany and the Bank of Belgium Is made from
the best estimate we are able to obtain; in neither case is it claimed to
be accurate, as those banks make no distinctioa in their weekly reports,
merely reporting the total gold and silver, but we believe the division
we make is a close approximation.
Note.— We receive the foregoingresttlts weekly by cable, and while not
all of the date given at the head of the oolumo, they are the returns
the latest reported figures.
is,
WHY SILVER DOLLAR COINAGE HAS
BEEN HARMLESS.
We
see
it
the old sort
stated that
is
new
silver
legislation
being looked upon with
less
even of
disfavor
than formerly because the evils which were expected to
follow from the coinage of two million dollars worth of
bullion a month into 413| grain dollars have not been
realized.
Such a change in opinion is quite natural
among those having short memories, and no doubt it
represents the view many take of the subject.
Briefly
staied, the argument is that if two million dollars worth
of silver is not only harmless but leaves the money
.
BtarUet bare of currency,
dollars
worth,
or
even
why may
free
not four million
coinage of the present
be Just as harmless.
Before replying to this statement,
silver dollar,
to repeat
disturbance
very
active, a trace of
and
in the
home
influence
in our imports
The values of staple exports, when
consumption.
crops are abundant, would not be likely in any measure
to be affected, as prices under such circumstances are
governed by the quotation ruling for the exportable
surplus at Liverpool or at other foreign trade centres.
Hence it is that an inflated and inflating currency only
puts farmers in a worse condition, for labor and clothing and groceries advance while their products are sta-
the
61,076,000 50,661,000 101,637,000
27,366,667 13,678,333 41,036,000
6.618.000 16,242.000 21,760.000
88ued nearest to that date— that
When
a
stages, is
values of articles entering almost wholly into
But
£
may be found
earlier
tionary or decline.
last year.
,4pr« 34, 1890.
Gold.
its
$2,423,000
liankt.
Total gold and legal tenders
to, in
difficult of detection or proof.
26, 1889.
Sub-Treasury operations
kind referred
$1,023,000 Gain. $1,000,000
100,000
300,000Galn.
in connection with the Sub-
Banks Interior Movement, a« above
represents the situation of to-day, for
of the
$2,023,000
400,000
Treasury operations the result
EndiJU April
Movement.
N.Y. Bonk*. N.r.Bankt
Currency..
Wuk
^r.t Interior
Shipped by
lieeeived bv
2B, 1890.
[Vol. L.
what we have often
said
it is
well
enough
before, that no one
it is
case,
not necessary to dwell on these features of
because there are facts, now matters
of history,
which explain
up
time the
fully the failure to
realize
from our
silver currency.
These facts, too, are familiar to our
readers, for we have often referred to them, but they
have never been brought together in a way to show
how naturally and how perfectly currency movements
have during late years adjusted themselves to one
another.
To understand what we mean, it is only
necessary to recall the decrease in national bank notes
concurrently with the increase in silver dollars and
to this
certificates afloat.
how
evil effects anticipated
We
were not even aware ourselves
orderly these two currents had moved, until
we
brought the figures together month by month for the
Of course everyone was
purpose of this investigation.
aware of a certain relationship between the inflow of
the one and the outflow of the other, but only by
putting the results side by side, is the philosophy of the
whole movement understood and the puzzle solved.
It was in the latter part of 1881, during the whole of
1882, and for the first few months of 1883, that
national bank currency reached and continued at
maximum, the fiuctuations in the total being
its
within very narrow limits.
On December 1st, 1881,
the aggregate outstanding was $362, 168,410; on October 1st, 1882, the highest point of all was touched, the
amount reported then being $362,889,134; but on January 1, 1883, the total was still $362,651,169. We take
this latter date, therefore, for the starting point of our
comparison. Then it was that bank notes began to
decrease and silver issues outstanding began to increase
rapidly.
In the subjoined statement we give the total
silver dollar coinage as it stood at the beginning of each
with accuracy the date or the method of the year from 1883 to 1890, inclusive, and also the silver
outcome of mischievous currency legislation. dollars and silver certificates and bank notes outstandThat would be impossible in any country and especially ing at the same dates.
National
Total
Silver in Circulation.
in a country of the extent of the United States, with
Total Silver Bank Xote*
Silver dollars
Silver
HUver
population increasing and new territory being brought Jan, 1.
dollart
Coined.
Certiflcales. ineireulafn. outstanding,
under cultivation so rapidly; with towns, cities. States, 1883. ..132,955,080 38,938,238 68,443,660 107,381,898 362,651,169
and centres of trade springing up almost in a night; 1884.. .161,425,119 41,975,734 96,717,721 138,693,455 350,482,828
43.059,129 114,865,911 157,925,040 329,158,623
and with every productive enterprise active and expand- 1885. ..189,561,994
1886. 213,259,431 49,442,089 93,146,772 142,588,861 317,443.454
ing; in such a case and at such a period of quickened
1887...249,623,64f 61,117,409 117,246,670 178,364,079 296,771,981
industries it would be idle to attempt to measure the 1888. ..283,140,357 64,222,818 176,855,423 241,078,241 268,398,878
capacity for absorbing currency, or to limit by days or 1889. -.315,186,190 60,779,321 246,219,999 306,999,320 233,660,027
years the time needed for a mistaken monetary system 1890... 349,802,001 61,266,501 282,949,073 344,215,574 197,078.918
to run its course.
The last two columns of the foregoing statement are
Besides, it is possible that our silver currency has to the columns which disclose the relation between these
some extent inflated prices so that ten dollars are only two movements.
They bring into clear light the fact
doing the work of nine dollars. If that were so, it that the silver issues have merely taken the place of
would account for the absorption by the people of the bank notes which have been concurrently retired. If
issues up to this time, and if confidence in the notes any one asks why no harm has hitherto resulted from
could be continued the country might for a period absorb the silver dollar coinage, the answer is found set out
a place was cleared for
even more, the excess not becoming evident until the here in terms no one can deny
catastrophe was upon us.
We do not claim that this silver to occupy the people's old currency was taken
can
fix
final
.
—
;
—
i
I
April
TE[E
26, .880,
away and therefore there was an absolute need
new
currency.
CHRONICLE
for the
Cousequentl/y the experiment which the
676
OOOD WORK BY LABOR BUREAUS.
Eecent events demonstrate very clearly that Labor
of a 412^ grain dollar presented to the
country has not been tried yet it has been scarcely Bureaus, or Commissions of Labor, when in charge
touched.
On the first of January, 1883, the aggregate of experienced and competent persons, are capable of
Not long ago we
of the silver issues and bank note issues outstanding rendering important public service.
On the first of January, 1890, the called attention to the work which, in accordance with
was $4:70,033,067.
silver coinage
—
aggregate of the same items was l>541, 294,492. In
these seven years, therefore, there was an increase of
in this aggregate, or an average of
only 871,261,425
only about 10 million dollars a year.
There is another, and we were about to say a still
more weighty event to be noted, for it will be observed
that five-sixths of the increase in silver circulation from
1883 to 1890 has occurred since 1886. In the last men-
the law, the Massachusetts Commission was doing in
undertaking an annual census, limited to a few items,
of the manufactures of the Commonwealth.
Such
work, under intelligent guidance, gives promise of
and in the course of years, if continued on the lines laid down, will furnish a very useful
compilation of statistics. This week we have received
excellent results,
the annual report of the Connecticut Bureau of Labor
Statistics,
and that
was in July, 1886, that the law with regard
to silver certificates was amended so as to authorize the
issue of small notes.
Under present circumstances it
is well enough to mention that this amendment was
suggested and drawn by Mr. Conrad N. Jordan, then
Treasurer of the United States, he having prepared the
arranged
statistics
Confidence, too,
Even
tioned year a significant change was
utes.
made
in our stat-
It
also
contains extended and well-
of manufactures,
giving capital,
wages, profits, and the proportions of each to the others.
becoming pretty well understood now that the
is to present facts and
information, and most of the State Commissioners are
Facts and information of course
acting on that idea.
way for the eager reception of small silver certificates do not always tend to harmonize the relations of capital
by decreasing the aggregate of small legal tenders then and labor, and yet they serve as a basis for getting at
in circulation, over 14 millions of the one dollar and two the truth, which latter is so important to an intelligent
It will frequently happen
dollar legal tenders being withdrawn during the fiscal judgment in the matter.
year ending with June, 1886. Indeed, on Kov. 30, 1886, that differences between employer and employee arise
there were only 29 millions of one dollar and two dollar solely out of ignorance of the real situation of affairs
greenbacks outstanding, against 50 millions of the same in the industry affected. Where that is the case the
denominations in July, 1885. During previous years, usefulness of facts serving to reveal the actual status is
likewise, instead of a natural increase to accord with a very obvious.
But even where there are no direct or
natural growth in the demand, there had been a decrease, palpable benefits, the indirect benefits are very great,
so that the need for small notes was urgent at the date though they may not be manifest to the superficial
when the change in the law was made. An indication observer.
of the efficiency of this provision is found in the fact
There is reason for congratulation in the fact that
that on the 31st of July, 1886, there were $93,959,880 the heads of most labor bureaus are taking a correct
of idle silver dollars in the Treasury, whereas on the view of their duties.
In one or two of the States the
31st of December, 1888, there were only $8,186,870 in Commissioners have thought it incumbent upon themthe Treasury.
During the interval silver certificates selves to espouse the cause of labor as against capital,
were floated covering not only the accumulations at the and to make their reports the medium for lengthy
former date, but covering also the 2^ years additional arguments to sustain the labor side of the question.
coinage to the latter date, with the exception of the Even where such utterances are sincere, the motives are
amount last mentioned.
sure to be questioned, and the time and money spent on
If to the foregoing influences we add increased busi- the effort are thus wasted.
In point of fact, a comness activity such as has been enjoyed with a brief inter- missioner should be entirely free from prejudice.
If
ruption since 1886, every one must admit that the his results are to be colored in any way, or if his invescapacity which the United States has shown during tigations are to be directed to a special end, his work
recent years for absorbing silver currency is in no degree has no value whatever, and no matter how elaborate or
surprising.
A place was made for the certificates first extended his statistics they are useless. Deductions,
by withdrawing bank notes, second by meeting a want fairly supported by the facts, may perhaps be permissi for currency of small denominations, and third by the ble, but it is better to rest content with a clear and innew and wider demand active business introduces. telligible presentation of the simple facts and results.
in
any
the Treasury's ability to respond
emergency has been full
and complete.
A large and presumably an ample
reserve has been held by the Government of gold and
legal tenders, and hence belief in the prompt convertin case
of
special
It is
chief function of labor bureaus
if
there
were
not
the other objections,
the
State could hardly be asked in fairness to pay for pleas
on behalf of one part of the community as against the
other part. Public bureaus can only be justified on the
theory that in helping to arrive at the truth they benefit
ibility of the certificates has been sustained.
To argue the whole public.
from such facts that a seventy or seventy-five cent
We make these remarks because very few persons
dollar is harmless, or that the country would take a have any idea how the number of these bureaus
double dose with like results and equal confidence, is has grown in recent years, and how many States
simply arguing that the same opportunities for their now maintain organizations of this character. If we
circulation would be repeated.
of an overvalued coin that
subsidiary coinage
is
It is
not the mere issue go back twenty years, we find only one such commission
That
if it were, our in
existence, namely that of Massachusetts.
harmful
;
It is only Commonwealth, therefore, was the pioneer, and under
redundant, when the guidance and direction of Mr. Carroll D. Wright,
when the coin is who was chief of the Bureau for so many years, the work
not convertible at its face value into the money of the of the Commission attained a high reputation.
Mr.
world, that it becomes unsafe.
Wright is now United States Commissioner, but "iSf,
when
would be disturbing^
the circulation of such a coin
the over issue cannot be retired, or
is
THE CHRONICLE.
676
Horace G. Wadlin, the present Chief,
is
rendering
for purposes
[V^OL. L.
of comparison.
They should then
fur-
equally satisfactory service.
nish a pretty accurate index of the condition of the
1873 was the second State Bureau formed,
Pennsylvania then falling into line. In 1873 Connecticut also created a Labor Bureau, but after two years it
was legislated out of existence again. Missouri fol-
industries
Not
till
lowed in 1876, Ohio in 1877,
Illinois in 1879.
Thus
New
Jersey in 1878, and
— when busi-
in this latter year
ness so generally and decidedly revived
all
over the
—
United States there were only half a dozen States altogether which had Labor Bureaus. Indiana also created a Bureau of Statistics in 1879, but its functions
were general rather than special, and it was charged
with the collection of railroad, agricultural and other
statistics, which in most States are gathered by sepIn fact, for the first two years of its
arate bureaus.
existence tho Department of Geology was also under its
care, and its title then was the Bureau of Statistics and
covered and the changes
year to year.
Even now
infrequently throw
tions.
Thus
in
much
1887
in
them from
in their partial state they not
light on prevailing condi-
the Connecticut Commission
had returns from eight establishments engaged in the
manufacture of woolen goods. These establishments
had nearly three million dollars invested in their business, and the gross value of their product for the year
was over 3^ million dollars; but there was no profit
whatever to the manufacturers on the year's business,
there being actually a small loss. In the same way, when
we see from the 1888 returns (those covered in the pres
ent report) that four establishments engaged in the
manufacture of rubber goods, having $4,367,114 capital employed and with a product of $3,497,457, show a
profit for the year of only $37,774, or less than one per
cent when we see such a state of things we know that
business in that industry also was unsatisfactory, which
agrees fully with the facts and the developments which
—
Geology.
"Whether because of the steadily increasing business
activity in the years following, or for
some other reason,
the seven States mentioned stood alone in their work occurred subsequent to 1888.
But in that year no less than four States
The statistics furnished serve further to confirm two
till 1883.
were added to the lis; namely. New York, Michigan, other facts with which our readers are quite familiar,
Wisconsin and California. In 1884 Iowa and Maryland namely the small margin at which business is being
—
In 1885 Connecticut, which
had made one experiment and then abandoned it,
again entered the field. Professor Hadley of Yale College being tiie Chief of the Bureau for two years, and
Samuel M. Hotchkiss, the present Chief, having occupied the office since then. This Bureau is one of the most
efficient in the country. Kansas also created a commission
in 1885, and in the same year the United States established a Labor Commission, Mr. Carroll D. Wright
being given thereby a wider field for the exercise of his
talents.
In 1887 no less than six additional States
that is, Colorado, Maine, Minnesota, Nebraska, North
likewise joined the ranks.
done and the steady growth in the volume of business.
The abstract of manufactures for 1888 covers 241 establishments, against only 90 covered by the 1887 abstract, but comparing 85 establishments reporting in
both periods we find an increase from 26,063 to 27,094
in the number of employes; from $45,664,193 to $49,113,149 in the capital employed; from $43,048,193 to
$45,764,380 in the value of goods manufactured;
from $11,676,894 to $12,032,412 in the wages paid;
from $23,316,576 to $24,440,041 in the value of the
materials used, and so on through the list, there
being not a single item failing to show an increase.
departure. This is in the face of the circumstance that 1888 was
Carolina and Rhode Island, made a like
if we include Indiana, there are twenty-
On the
not a satisfactory year for business generally.
included
in
establishments
the
241
profits,
of
question
and making regular investigations into the condition of the full report, and which employ 53,147 hands, and
labor, etc., besides the United States Commission. which had $85,863,533 of capital invested and produced
Altogether,
one States engaged in the work of collecting
statistics
These bureaus are not all specifically called labor bu- $85,939,133 of goods— these establishments made a
reaus, and some of them perform other and indepen- total net profit in 1888, over and above interest, taxes
dent functions, but the object quite generally is to get and rents, of only $7,248,711, being less than 8| per
information with regard to the States' industries and cent of either the capital or the value of the goods
the relation of labor thereto.
turned out. If we consider the risks and anxiety
As in work of this character, experience counts for which manufacturers undergo, 8^ per cent is certainly
hardly less than intelligence, and many of the bureaus not a high rate of profit.
have not yet had a long existence, the full measure of
the Tesults to be achieved can only come with the progress of time.
in
making
the various bureaus,
their compilations, should follow
some gen-
uniform method, rather than that each
should pursue a separate and independent course.
As an aid in that direction the annual conventions of
the various commissioners are to be greatly commended,
permitting as they do the comparing of experiences
and facilitating an exchange .of views, «&c. In the
compilation of manufacturing statistics, etc., the form
adopted by the Connecticut Commission, which is quite
like that of the Massachusetts Commission, has much to
recommend it, and indeed the Commissions in both
States are entitled to credit for the way in which they
are performing their duties.
The returns are still incomplete, but a larger number of establishments is
included in the summaries with each succeeding year.
In time the statistics should be reasonably complete, after which they will be very useful indeed
eral
•
and
It is desirable that
COLORADO RAILROAD SITUATION AND
THE RIO GRANDE WESTERN.
Though the rumor that the Rio Grande Western had
been acquired by the Rock Island has been denied, the
situation of a^airs in that part of the country is decided-
We
showed two weeks ago what great
development the State of Colorado had undergone in
The Rio Grande Western is situated in
recent years.
ly interesting.
Utah, rather than in Colorado, but is really an extension
For a number of
of the Colorafllo system of roads.
years no feature in connection with railway extensions
in the United States has been more prominent or noteworthy than the general disposition on the part of the
managers of leading Western roads to build into or
In the case of the
Burlington & Quincy this tendency was manifested
quite a long while ago in the extension to Denver, but
among the more recent illustrations may be mentioned
secure connection with Colorado.
J
I
April
THE CHRONICLR
36, 1890.]
both the Rock Island and the Missouri Pacific, while
the Atchison, which already had some mileage in the
We may also mention the
State, further added to it.
case of the Denver Texas & Forth Worth which secured
connection with Colorado from the South, thus affording the State a connection with Texas and the Gulf of
Mexico.
While this desire to stretch out into Colorado has
been very manifest, on the other hand it is a no less
conspicuous fact that as yet none of the large systems
have found it advisable to extend their roads through
and beyond Colorado, the Denver & Rio Grande and
the Colorado Midland being relied upon to furnish the
The Colorado Midland,
necessary through connections.
it is true, is a new road, having been built only a few
years ago.
During and since its construction rumor
has frequently declared that the line had been undertaken in the interest of this or that large system, which
was building an extension under a separate name and a
distinct organization.
Aside from the Colorado Midland, however, there has been no attempt to build an
east-and-west line in Colorado.
The topography of the
State, with the Rocky Mountains extending through it,
may be in part responsibl& for this, but doubtless a still
more potent reason was that when the extensions of the
different roads from the east had reached Colorado the
time was no longer favorable for the marketing of bonds
for further new mileage, and since then public opinion
has strongly discountenanced the building of additional
parallel and competing lines.
At any rate, under the changes that have taken
place the position of the Rio Grande Western, instead
of being injured, as at one time seemed probable, has
been improved. The great point in favor of that road
from the first has been that it furnished the only outlet
from the east to Salt Lake City and Ogden (where
connection is made with the Central Pacific), aside
from that afforded by the Union Pacific or original
route.
That advantage exists to-day unimpaired. It
did seem at one time as if there was danger of the
building of a duplicate line.
The Rio Grande Western,
being a continuation of the Denver & Rio Grande (the
Rio Grande Western begins near the State line between
Colorado and Utah, where the Denver ends), the two
roads in their early history were controlled in the same
interest, and the Rio Grande Western was leased to the
Djnver. When the financial difficulties came, however, the two corporations resumed their separate
identity, and soma friction developed between the
respective managements.
The Denver threatened
to
build aline of its own to Ogden, and thus parallel the
Western. Happily better counsels prevailed, and the
differences were harmonized.
Denver and the
Colorado), are also
Not only
that, but
Midland (rival
now working together in a
Colorado
lines
the
in
spirit of
amity, and a piece of road to connect the Colorado
Midland with the Rio Grande Western is being built
677
made) as a funnel for receiving the combined traflSc
and interchange of business provided by all these various
The managements of the Denver, the Western,
roads.
and the Midland appreciate, too, the opporturiities thus
afforded them, and are making preparations to take
care of the business which seems in prospect.
One
drawback hitherto has been that both the Denver and
the Rio Grande Western were narrow gauge lines, while
the connecting roads were standard gauge.
But we
pointed out two weeks ago that the Denver was providing a standard gauge track, and the Rio Grande
Western is also widening its gauge, so that before many
months there will be a standard gauge route all the way
through.
From what has been
and that
ment.
also
Under such
on even terms with
their
said
it
will
be seen th at neutral
seem best for the Rio Grande Western,
seems to be the opinion of its manage-
control would
combined
it can interchange business
the connecting lines, getting
whereas if the road were con-
control
all
traffic,
any one connecting line, exchange of business with the rest would necessarily be
trolled in the interest of
interrupted.
By
treating
all
alike its possibilities will
be developed to the utmost.
ENGLAND AND GERMANY IN AFRICA—
WHAT SIR SAMUEL BAKER SAYS.
We
have become familiar with a great variety of
going on in Eastern Africa
is
and on its ultimate prospects. Sometimes we feel
as if the entire African Continent were on the eve
of complete regeneration, and as if a new world
were about to be opened to modern enterprise, with"
large scope and the most encouraging prospects; then'
coming under the influence of some person or persons
of less sanguine temperament, we find ourselves beset
opinions on what
difficulties, amounting to absolute hindrances, and
we are half constrained to take it for settled that as
Africa has been so Africa will be a home for the savage and the wild animals, and a temptation for the
hunter and the explorer.
That this latter is not the opinion which is largely
in favor at present is evident from the activity and
enterprise now being manifested by several of the leading
European Powers on African soil. France is making a
determined effort to maintain her hold on a large part
of the West Coast in her struggle with the savage ruler
with
—
The Belgians are filled with delight at
encouraged by some recent words of
King Leopold, that he contemplates handing over the
vast territory of the Congo Free States as a sort of
of
Dahomey.
the prospect,
dowry or endowment to the
little
European Kingdom.
Great Britain, in addition to her prosperous territories
on the West Coast and in the neighborhood of the
East Africa and her newly-organized
Germany has her territories on the
under joint agreement between the Midland and the West Coast also; but she is now concentrating her
Denver.
efforts in East Africa, and giving evidence of an intenThe position of the Rio Grande Western then is this: tion to push her conquests northward and more into
Rock
Cape, has her
Southeast Africa.
on certain
and there are many who are conThe Colorado vinced that she will at no distant day be mistress of the
Midland and the Denver serve as conduits for carrying entire Soudan region, which the British so unwisely
the business furnished by these systems through the abandoned.
State of Colorado.
At the Utah boundary line the
In the circumstances, and considering at once the
Midland and the Denver converge and meet the Rio decided sentiment which exists and the enormous
Grande Western, and thus the latter serves (or will energy which is being expended, it is of some importserve when all the necessary arrangements have been ance to have the opinions of one who, from actual
All the large systems, like the
&
Island, the Bur-
Qaincy, the Missouri Pacific,
their Western termini iu Colorado.
lington
tStc,
now have
the interior.
Italy has taken a firm hold
parts of Abyssinia,
THE CHTIONICLR
678
work,
We
in
his
to
is
able to speak with
have
heard what
some
authority.
deo;ree of
Stanley has
to
say,
at least
We shall soon have
a qualified sort of way.
book in our hands, and shall therefore be able
In the meantime
judge of his conclusions.
of Sir Samuel Baker, whose right to
with
authority
regarding the whole of Equatorial
speak
Africa, but particularly regarding that part of it from
which Stanley delivered Emin, and to which, under
we have the views
German patronage and with German
aid,
returning, isunquestioned.|Sir Samuel,
it
Emin
is
now
willbe remem-
own expense
December, 1862,
he set out, accompanied by his heroic wife and some
others, and in February of the following year he had
the good fortune to reach Gondokiro, where he met
Speke and Grant. They had reached the Victoria Nyanza.
Resolved to supplement their discoveries. Baker
set out, moving to the east and then to the south, and
on March 14, 1864, came upon the lake which he
named Albert Nyanza. Proud of his discovery, he
"There is no longer any
wrote home to Eagland
" mystery connected with the Nile, nor any necessity
"for expeditions on that head, unless it be desired to
"explore the great lake which I have discovered." He
further said
" I should not have been contented to
" see a foreigner share the honor of discovering the
" Nile sources with Speke and Grant. It happily be" longs to Eaglaad." Later, in 1869, he undertook the
command of an expedition under the auspices of the
Khedive, and made himself familiar with the entire
water-shed of the Nile and adjoining regions. Later,
when necessities forced England to take Egypt under
her control, it was a source ofjpride to Sir Samuel that
British enterprise had been so completely identified
with a region which it was now hoped would remain
permanently a recoguized part of Egyptian territory.
Of course Sir Samuel's hopes were all blasted when
the British Government sacrificed Gordon and let go
her hold on the Soudan. Still there was a remnant of
the Egyptian conquests and annexations left so long as
Emin Pasha was able to maintain his position at
Wadelai.
He had been appointed to the command in
the equatorial region by Gordon himself. He held for
Egypt, and for England through Egypt.
The British
Government might repent and make some fresh efforts
to re-establish its authority in the Soudan.
Something
might happento force British activity even in connection
with Emin's deliverance, when the worst seemed to have
come to the worst. There was still a probability that
the Soudan would be reclaimed, and that Egypt would
be continuous from Alexandria to the Great Equatorial
Lakes. We can readily understand how such a man
must have felt when Emin, broken down and disconsolate,
left Wadelai.
We can also understand how intelligence
of this latest move of Emin must have shocked him.
All the fruits of the labors of heroic and self-sacrificing
Englishmen are to fall into the hands of the Germans.
We cannot wonder at his recalling the words of an eminent general when reflecting on his own fate, and the
" The reputation of England has been
fate of others
" built up by individual Englishmen, but never by her
" Government."
Sir Samuel Baker, however, like other people, has to
bow to accomplished facts; and although it would be
absurd to suppose that he had changed his mind in any
radical sense as to what should have been done, he is
able to speak and write more calmly of things as they
are.
In a recent letter to the London Times he shows
bered,in 1861 organized an expedition at his
for the^discovery of the Nile sources. In
:
:
—
:
—
[Vol.
L.
few words what Egypt had become when Gordon
his command.
It extended from the
Mediterranean to within a degree of the Equator.
Throughout that enormous territory there was a responsible government and there was security.
No fear
of " moonlight outrages." You were safer in the
deserts of Nubia than in Hyde Park after dark.
Telegraphic lines connected the extreme points and made
communication easy. Fifteen steamers were plying up
the Blue and the White Niles; and two were upon the
Albert Nyanza.
The reality was grand. The prospect
was grander. All this he says England wiped out as
with a wet sponge.
He does not blame Emin Pasha for
the course he has taken.
A German himself, it was
natural he should have a desire to act with his own
people.
Success is not impossible; and of one thing
he is certain, that Wissman represents a government
which will never imitate the example of Eagland
"by advancing only to retreat." He would not ask
Germany to halt. He knows no reason why be should.
During many years in those parts he never saw any
The commercial
natural production worth a penny.
It is a
outlook, he says, is the reverse of promising.
good enough field, however, for adventure, for philanthropy, for enterprise, and for experiments in the development of savages who will fight and dance but
in a
relinquished
who
will not
"
"
per,
"Under
present circumstances,"
" Eagland may
recover her ruffled tem-
work.
he concludes,
and arrive
at the
conclusion that the occupa-
tion of a looker on may after all be a wise and dig" nified position while she concentrates her attention
" and her power on the well being of Egypt proper
" and the security of the canal route to India."
'
'
;
It is quite manifest that if
such sentiments should
prevail in the British Isles, there
is
but small likelihood
any serious international difficulty growing out of
Emin Pasha's attempt to regain his lost province.
of
[From our own correspoudent.)
London, Saturday, April
Bank
12, 1890.
Eagland on Thursday reduced
their rate of discount from 4 per cent, at which it had stood for
exactly four weeks, to 8}^ per cent. The joint-stock and private
banks thereupon lowered the rate they allow upon deposits to
2 per cent, and the discount houses and billbrokers reduced to
1/^ per cent the rate they allow on money at call, and to 3 per
cent the rate that they allow on money at seven days' notice.
The Directors
of the
of
first the inclination was to lower considerably the rate of
discount in the open market, but as a demand sprang up for
gold for Germany the inclination was checked, and the open
market rate remained at 3 per cent. Tue Berlin exchange
upon London is not low enough to admit of gold withdrawals
from the Bank of England, while the discount rate is 2 per
At
cent; but a slight further fall either in the
exchange or in the
discount rate would probably lead to considerable shipments.
The great German banks have combined to assist the specu-
who have been plunged into difficulties, and it is hoped
now that until midsummer at all events there is nothing to
lators
But the state of the iron trade
Labor disputes are ex tending, political apprehension is revived, and, above all, rumor is busy with the names of three or four large banks. The
fear with regard to the Bourse.
is
growing
less
and
less
satisfactory.
banks, therefore, are anxious to increase their metallic reserves so as to strengthen themselves against all contingencies,
and they are able to do so, since for a considerable time past
they liave been employing large sums in the London market.
Apprehension, too, that the banking and building crisis in
Italy
may become even more
iety, for Italian
severe further adds to this anx-
securities are widely held througliout
Ger-
The Paris exchange upon London lias also fallen
sharply this week, and is now very near the point at
which gold could be taken. The French banks, like the Germany.
Apbil
THE CHRONICLR
26, 1890.1
679
The general expectation,
man, have been employing large sums all through the winter has really been over 200 per cent.
and autumn in London, and as the discount rate in London in therefore, is that before long the business community will renow lower than in Paris they are preparing to withdraw a fuse to accept paper at any price, and that some financial
part of their funds. Besides, they are making preparations reform, therefore, will become imperative. In spite of all
for a large funding operation which it is understood will take this it is alleged that some of the provincial banks continue
place next month. For the present the fear of gold shipments issuing more notes, and the Hypothecary Bank of the Provto Buenos Ayres has ceased, gold having been received from ince of Buenos Ayres is accused of still emitting cedulas. It
that city in considerable amounts; but the crisis there is very has undertaken not to issue a new series, but the statement is
grave indeed. According to the latest mail reports, the Pro- that it has evaded this promise by increasing the issues of the
vincial Government of Buenos Ayres offered Treaaury bills old series. Failures on a great scale and in large numbers are
last month at a discount of 2}^ per cent per mensem, being at reported every week, and a collapse, therefore, appears inevthe rate of 30 per cent per annum, and yet could not place itable. Yet the sterling issues are well supported in London,
them. How long, therefore, the Government will be able to and do not give way, and even the cedulas have not fallen, as
dispense with assistance from Europe nobody can see. Mean. they might have been expected to do. South African gold,
time the supply of money in the outside market here is large diamond and land shares are depressed. They have been sold
for the moment.
During the past week the interest on the in immense numbers by German speculators, and banking difnational debt and the dividend on Bank of England stock have ficulties in South Africa have also contributed to the break-up.
been paid, transferring from the Bank of England to the out- But the real cause of the disorganization of the market is that
side market about 4J^ millions sterling. By means of this the the cost of conveying machinery, food and other necessaries
outside market lias been able to repay its debts to the Bank, from the seaboard t-j the mines is too heavy, in the absence of
and has increased its supplies by nearly £700,000. But in a railways. When the railways are built there seems to be no
very short time now the outflow of coin and notes to the inter- reason to doubt that the mines will prove extremely produc*
nal circulation will become large, and wUl once more deplete five, and an early recovery is therefore looked for.
the outside market.
The Board of Trade returns for March and the first quarter
During the week the supply of silver in this market has of the current year are not satisfactory. They show for the
been small and tBe demand good. In consequence the-price month a decrease of nearly £1,400,000 in the value of the exhas risen to 44l^d. per ounce, the Indian banks having been ports, being about 6J^ per cent, and in the value of the imthe chief buyers. They have also been buying gold very ports a decline of £125,000, or over J^ per cent. The dock
freely, and they have bought India Council bills and tele- strike in Liverpool and the other strikes all over the country,
graphic transfers in unusual amounts for this season of the especially the coal strike, account to some extent for the fallyear.
money begins
Ordinarily the value of
to fall
in
Bom-
bay and Calcutta about the end of March, and declines rapidly
throughout April. But there is no sign of a falling off as yet
this year.
The Bank of Bengal maintains its rate at 11 per
cent and the Bank of Bombay keeps its rate at 12 per cent,
and the active demand for remittances seems to indicate that
the stringency will continue for some time longer. Trade is
very active throughout India, the exports are large, and the
grain harvest
havmg been just completed,
for export to the principal ports.
also
is
The
grain is being moved
market, no doubt,
strengthened by the belief that the United States Con-
gress will pass
some measure
silver
this session for increasing the
purchases of the metal.
The slight increase in activity in the Stock Markets that
took place just before Easter has been followed this week by
if possible greater dulness than ever, and a less favorable
feeling.
One
of the largest
observed this week that in
dealers in the
American market
experience he had never
known that department of the Stock Exchange to be so absolutely stagnant. The public holds entirely aloof, or if it deals
at all, it only sells. The large operators are likewise inactive,
and the members of the Exchange have therefore to live upon
all his
one another, or keep entirely
idle.
Every settlement stocks
are taken up and shipped to New York, the selling being by
Continental holders as well as by British.
The statement 0{
this dealer is fully borne out by the brokers, who all report
that their clients refuse altogether to deal in American securities for the time being.
As a rule it would seem indeed that
investors for the moment are holding back in the hope that
they will be able to buy later more advantageously for themThe impression is growing everywhere here that
prices are too high, and that bad business is accumulating in
such large amounts, and in so many directions, that there
must be a steady decline if not a sharp fall. In Berlin it is
believed that arrangements have been made to prevent the
recurrence of serious difficulties, at all events until the end of
the half-year. But the fall in industrial securities goes on,
and is growing exceedingly heavy. In Italy the banking and
building crisis tlirough which the country has been passing
for fully a year and a-half has again become very acute.
From Rome the reports are very gloomy. Many bankers are
said to be in serious difficulties, and it is stated that the
National Government has decided not to assist the Roman
municipality, which in that case wLU be unable to meet its
liabilities.
In other large cities the difficulties are great,
though they are believed not to be so great as in Rome. In
Spain and Portugal matters are no better, and they are aggravated there by political unrest.
In the Argentine Republic
the forced paper currency is becoming utterly discredited.
This week the premium on gold has been as high as 193 per
cent, and private telegrams" received in London say that it
selves.
ing
off,
but not altogether. In the imports the chief falling
raw materials of manufactures. Food and manu-
off is in the
factured articles
show an
and
increase,
it is
evident, therefore,
not the strikes alone that have produced this result.
The imports of raw materials all through last year were very
large, and especially in the last four months of the year the
imports of American cotton were on an extensive scale. This
may account for the decline since the new year began, but it
is difficult not to suspect that manufacturers are less confiden*
that
it is
than they recently were. In the cotton industry they \inrdoubtedly are, for the exports of cotton piece goods have been
indeed for nearly a year.
falling off for many months past,
In March there was a general decline, but the decrease in the
exports was most notable in those to the East Indies. The
—
is evidently glutted, and doubtless the money
stringency has had something to do with the check to the sale
of piece goods. Iron, too, is less prosperous than it was. There
is a falling off, for instance, in the exports of machinery and
market there
likewise in manufactured iron. Pig iron, however, has been
very freely taken by Germany and Holland. The reports from
the great manufacturing districts confirm the evidence afforded
by the Board of Trade returns. The iron industry is undoubtedly less prosperous than it was. The cotton trade is greatly
depressed, and although the ship-building yards are for the
time fully employed, and will continue so for six or seven
months yet, orders for new vessels are exceedingly scarce, as
they have been ever since the beginning of the year.
The wheat market is quiet, without material change. Sellers are less confident than they were, and buyers are rather
holding off.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c.,
compared with the last three years:
1890.
£
CIrouUtlon
2*,789.965
1887.
1889.
1688.
£
£
£
24,392,890
24.269,795
24,198,915
8,448,684
24.102,978
14,434,861
18.553,188
16.388,640
24.136,585
Public deposits
7,715,455
9,285,992
8,883,175
other deposits
26,523,851
25,095,445
25,023,082
Government
15.765,817
17,749,712
21.227.177
15,959,948
21,907,354
15,106.668
14,423,580
13,200,752
21,270,547
securities
Other securities
Reserve
Coin and bullion
Prop, assets to
20,758,638
23,388,633
22,616.470
liabilities. per ct.
43«
41«
36X
perct.
8«
3
2
Bankrate
981-16
Consols
aearlng-House relums
108,466,000
60H
2H
98W
130,956.000
149,129,000
77,238,000
The following shows the imports of cereal produce into the
United Kingdom during the thirty-one weeks of the season
compared with previous seasons:
IMPORTS.
Wheat
Barley
OaU..
Peas
Beans
Indlanoorn
Flour
1888-89.
1889-90.
1887 88.
cwt. 31,136,763 36,802,911 27.347,093
10,550,893 12 696.192 11.431,288
9,227.701
9,198.302
7,740,259
2,093,954
1.235,398
1,154.933
1,627,069
2,065,767
2,058,734
21,-538,476 16,420,210 13,074.123
8,754,344 11,790,631
10,386,480
1886-87.
30,97.1,362
12.282,297
8,527.596
1,491,725
1.547,929
16,241,780
10,565,103
THE CHRONICLE.
580
Supplie.s available for
September
[Vol. L,
BXPOBT8 AND IMPORTS OF SPECIE AT
consumption (exclusive of stocks on
1):
1889-90.
1888-89.
1886-87.
1887-88.
Importaof wlieat.cwt.31.136.763 36,802,911 27,347,993 30,975,362
10,.1h6,489
8,7,54,344 11,790,631 ]0,.'it!5,103
Imports of flour
Bales of home-grown. 32,487,022 23,053,840 26,662,631 21,516,954
68,611,095 65,801,255
1837-88.
1888-89.
1889-90.
74,010,274
Total
63,057,419
1888-87.
328. 8d.
Od.
30.s.
Aver, price wheat we6lc.29s. 8(1.
30s. Id.
323. 7d.
30s. 2d.
31s. 6d.
Ar. price wheat season. 29s. lid.
The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
1888.
Ln*lw'.ek.
1889.
Thiawfek.
2,040.000
1,689,000
2,381,000
WTieat
qrs. 2,317.500
252.000
310,500
200,000
Flour, enual to (irs. 292,500
342,000
371,000
567,000
Maize
qrs. 529,000
The comparison of import trade is given below
Per 01.
Difference.
1889.
1890.
&
s,
s.
Imports.
85,532
38,058,318
+
+ 0-22
January
38,143.850
— 1,321,254
408
a2,340,096
81, "18,842
February
125,033
-34
36,265,387
36,140,834
March
3 months.... 105,291,616
The total exports for the
106,C2ii,001
1889.
£
s.
21.5K6,752
21,084,228
March
20,1,67,022
1,334,385
1-25
Since Jan,\.
Week.
areat Britain
France
Week.
$50 979
$
$1,530
10j,062
10
3,084
5,000
Germany
West Indies..
1,773,699
1,600
802,078
23,290
"7,.5b6
vfexloo
South America
All other oountrles. .
Total 1890
Total 1889
Total 1888
$2,656,646
8.214,351
4.508,128
$7,300
475,2)0
139,550
7,486
13,787
$12-^,959
11,868
141.722
20.527,037
18,670,3^2
21,459,490
Per
Difference.
Ot.
s.
-1-1,0.59.715
-1-
2,413,876
+
—
-I-
—
1,31)2,468
5-16
12-92
6-48
3-43
-(-2.081,123 -t3 months.... 62.73^,002
60.656,879
Exports of foreign and colonial produce were as follows
Per CI.
18 10.
1889.
Difference.
&
s,
Exports.
s.
14-86
834,607
January
4,77H,<'51
5,614,558
— 38,804
-72
February
5,369.507
5,108,311
6,0J3,975
March
6,327,102
+ 323,127 + 5-38
aineeJan.\.
$152,112
2,505,288
890,066
82.186
4.842
65.413
253,195
$3,953,102
2,154,307
3,651.538
Import*.
Exports.
Silver.
Week.
9reat Britain
Prance
Since Jan.
$200,000
Mexico
Week.
$7,802,387
19,000
$9,733
32',9'7'2
7,726
3,184
iVeat Indies
6,734
^outh America
All other oountrles...
1.
22.612
163,533
Total 1890
Total 1889
$206,734 $8,041,104
217,063
5 580.356
3.B76,614
231,290
To;all8-8
Since Jan.l.
$89,576
1,351
9,773
97,998
1.38.221
18,3^1
53,643
116,425
$39,943
44,753
93,170
$506,987
529,739
667,403
H19
months show the following contrast
18H0.
Exports.
January
February
—
—
Import*.
Bold.
:
—
—
—
NEW TORK.
Export*.
Of the above imports for the week in 1890, 89,978 were
American gold coin and §4,701 American sDver coin. Of the
exports during the same time, $7,500 were American gold coin.
:
—
The N. Y. Herald gave the following from London on
Saturday. 19th inst: Messrs. J. S. Morgan & Co. have issued
the following circular:
Gentlemen It is with the deepest regret that we are called
— 550,2^4 — 3 23 upon
3 months.... 16,176.560
17.026,844
to announce the death of our respected senior, Mr. Junius
Spencer Morgan, which sad event occurred at Monte Carlo on
Engltsli Financial markets— Per Cable.
The daily closing quotations for securities, &c. at London the 8th inst.
In accordance with testamentary and other agreements, the
are reported bj cable as follows for the week ending
copartnership at present existing will be continued, Mr. John
April 25:
Pierpont Morgan, of New York, taking his father's interest in
the business and becoming a partner in the firm. Begging
Hon.
Tuet.
Wed. Thurt.
Fri.
London.
Sat.
reference to his signature at the foot, we remain, gentlemen,
47
45%
45%
46
48
Your obedient servants,
Silver, per oz
d. 4filS
9715,8
98f>i8
985,6
981,8
Ck>ii8ok,new 2% perots.
9f-3ia
9715i6
J. S. MOEGAN & Co.
98 14
986,
981,8
do for account
986j„
9715,r 981,
London, April 17, 1890.
88-32% 89-03 8902%
8 5-92% 88-70
Fr'eh rentes (in Paris) fr. 89 05
Mr. J. Pierpont Morgan will continue to be a member of the
106
loa
106
106
106
106
U. 8. 4is8 of 1891
12431
124% 124% 124% 124%
U.S. 48 of 1907
124!Si
firm of Drexel, Morgan & Co., and will reside in New York,
7733
78
78
Canadian Pacific
76%
77%
77H
[He sailed on the Britannic Wednesday, the 23d.]
7078
70^8
71%
71
72%
Cauo. Mil. & St. Paul.... 7038
II8I4
nilnolB Central
118% 118% 118% ll>-% 118%
—The dry goods firm of H. B. Claflin & Co. has been made
110i«
llOSg
110% no's 110%
Lake Shore
1107a
Mema stock company, with a capitalization of $9,000,000.
90%
»1%
Louisville & Nashville.. 8-78
89%
90%
00%
7578
Mexican Central 48
76
764
75%
76%
bers of the firm of H. B. Claflin & Co. will subscribe for
751s
11CI%
11058
N.Y. Central & Hudson. 110% 110=8 110% 110
60,000 shares of the stock of the H. B. Claflin Company, and
25^8
25'8
N.Y. Lake Erie & West'n 25 14
25%
26%
267a
Tne remainwill pay therefor in cash the sum of $6,000,000.
do.
2-1 o'lns
IO314 104%
101% 101% 105
105
ing 30,000 shares are offered at par to the public, as per the
Norfolk & Western, pref
6258
0278
6358
62%
63%
63%
7714
Northern Pacittc, pref.. 76
7c%
76%
77
78
notice given in the advertising columns of the Chronicle,
56 13
56^8
5678
Pennsylvania
5H58
56%
.56%
and to which reference should be made for full detaUs conPhiladelphia & Heading. 21 14
21%
21%
21%
21%
21%
cerning this issue of stock and the earning power of the
657a
6578
Union Paciflo
65%
65 Ta
65%
67%
3-.;%
3178
Wabash, pref
31%
31%
31% _3l%
property.
—
—
—
—
,
(£ia\uxatxtxA\
mid
W^^xsttWviUtaxxs
%tm3
—
— The Home Life Insurance
Company of this city has just
Mr. Chas. A. Townsin its officers.
end, one of the directors, has been elected President, while
Mr. Geo. H. Ripley, for many years its Secretary, has been
elected Vice-President. Mr. Geo. E. Ide, lately in the investCo., has been
ment department of Messrs. S. V. White
elected Secretary.
made important changes
Imports and Exports for the Week. The imports of
week, compared with those of the preoeding week, show
an increase in both dry goods and general merchandise.
&
The total imports were $13,231,368, against $9,877,526 the
preceding week and $12,060,396 two weeks previous. The
Messrs. Coffin & Stanton advertise in our columns to-day
exports for the week ended April 22 amounted to §6,486,215,
Topeka, Kan.
against 16,050,497 last week and $5,392,334 two weeks previous. the bonds of the Topeka Water Company, of
The following are the imports at New York for the week This is a first mortgage six per cent gold bond. They offer only
ending (for dry goods) April 17 and for the week ending (for a limited amount, and will furnish full particulars on applica-
last
'
—
general merchandise) A^ril 18; also totals since the beginning
of the first week in January.
roKEION IMPORTS AT NEW TORK.
For Week.
1887.
Dry Goods
Oen'lmer'dlse..
Total
Bince Jan.
1.
Dry Goods
Gen'lmer'dlse..
1888.
$2,018,643
7,980,223
$2,313,447
$9.998,&67i
1889.
tion.
1890.
6,-273,211
$2,191,408
6,891,792
$3,097,927
10,133,441
$8,588,658
$9,083,200
$13,231,368
$44,20-',800| $47,379,327, *50,040.90ll $53,358,5 9
103,763,730 108,054.202 309.417,433 10i»,273,067
TO IXVESTORS.
$650,000
COUNTY OF ALLEGHE.VV
(State
Registered 'Bonds, 5-20,
of Pennsylvania)
Cent.
3% Per
INTEBEST PAYABLE SEMI-ANNUALLY, APRIL AND OCTOBER 1
IN NEW YORK FUNDS.
FREE FROItl TAXATION.
'
Total 16 weeks. $147,97 2. 530 $155,433,529 $159,45 S,334'$162,t 31,606
In our report of the dry goods trade will be found the
imports of dry goods for one week later.
The following is a statement of the exports (exclusive of
Bpecie)
from the port of New York to foreign ports for the
April 22 and from January 1 to date:
EXPORTS PROM NEW YORK FOR THE WBBK.
week ending
1887.
For the week....
Pre V. reported.
.*5,'<76.6n0
Total, 16 weeks.
$93,942,721
88,066,034
The following
1883.
$6,156,482
85,79 „',ii87
1889.
1890.
$8,082,657
$6,486 2 5
102,71-2,844
9^1,4^4,102
$91,917,169 tll0,795,501 $103,910,317
$4,641,681 14
Total debt of County Jan. 1, 1890
$268,227,828 00
Assessed Valuation
500,000
Population
These bonds are issued to retire balance of Riot Bonds, and are in
every way a desirable FIRST-CLASS SECURITY.
Bids will be received until May 1. Particulars on application.
DORAN & AVRIGIIT COMPANV,
NO. 10 WALt «TREKT.
L.Imited,
SPECIAL. NOTICES.
I^|=CITY BONDS,
AND OTHER
F1HST-CI.ASS INVEST"
shows the exports and imports of specie meuts adapted for savings' banks, truss funds, anil careful iuvestments
at the port of New York for the week ending April 19 acd ot Indviduals are made a pt-oiuiaeat speilalty in the business of
since January 1, 1890, and for the corresponding periods in Messrs Blake B803. & Co., Binkws, of Jfow York and Bo (ton. See
1889 and 1888:
card in the columns of the Cuboniclb.
table
Aran,
THE CHRONICLE.
26, 1890.J
Shje gankjers' ^a^jetU.
DIVIDBNDSi
The
followlnjr dividends
«W Per C»nU tut 1801.
Per
IT* en
Cent.
Payable.
tatnrdar...
Railroads
i
& Maine
Ports, tit. Falls & Conway
St. Paul M. & Man. (quar.),
May 15
May 15
May 15
May
1
Eastern (Mass.) common"
guar.
Baiikn.
Ocrmanla
5
^
4
KiMii^aii
National City
iniavellaneou* >
Oregon Imp'ineiit Co., common.
HlO
May
May
May
|8«.liS0
t8S,230
iWO
800
Monday
Tuudar....
Wedo'adaj.
Booki doted,
(buys tnctuAive.)
ThnndaT-
1.700
Total.
April 23 to
April 23 to-
The
23 to
April 24 to May
Ai)ril
1 April 19 to May
1 April 20 to May
1 April 20 to April
.
..
1.70O
,1500
801900
803,000
803,000
»5S8,I)40
tsae.aso
SO)
•
Friday
Boston
4 Per
Oftrlntt. Purcft'M. Prices paid.
have roceutly been announced
Name of Company.
681
closing prices at the
OenU *ue
Of erinot. Purek'M.
I03W
108H
1883,100
e«.ooo
1«OT.
Priete
pmU
1B7.000
ta«3,noo
88.000
167.000
US
IW
«8.8M
M.M0
lis
ll»W
lOSX
103H
123
ma
ISJiOO
ut
»a78.850l 1878,960
108W
IM
N. Y. Board have l)een as f oUowb
10300
lO.SOC
)5.»00
1
Intereel April
Periods 19.
1
1
\
April
April April\
21
22.
23.
I
:
tU Aprtt
^^i
29.
1
30
4«is,
1891.
1891.
..
Q.-Mch, •1031a 1031a *l03»<j*103is •l()3isi •103 vj
.coup u.-Mch, •1031a '10313 "lOJia *103ia •I03i« •1<j313
122 'Vi2
122 •122
reg. Q.-Jan
122
122 !«
co)i!i. y.-Jnn
122 •l-.:2
122 *12a
122 •122
...reft-
4V,
1 April 22 to May
May
1
49, 1907
May 15JMay 2 to May 15 4b, 1907
•110 i"lia *116 •116 •lie
reg. J. & J, 110
6a, cur'cv,'95
VVAL,L 8TKEET, FRIDAY, April 33, 1890-3 P. I»I.
68, cur'i'y,'i»0 ...rog.'J. & J.*118>« *118>s^U8ia*ll-is •1181a •118I2
cnr'ev.'97 ...reg. J. & J.|*121
*I2l ,•12114*12114 •12114 •121
The Money Market and Financial Sitnatlon.—The general 68,
•124 1'124 *124 •124 •1)44
68, cur*!-,; ,•98 ...reg.'J. Jt J.;*124
theme of conversation tliis vpeek is the large improvement in 68, cur',;y,'9? ...reg. J. <t J.i*126 •120 i^l26 •120 •126 •126
The immediate cause for this is found in
tlie stock market.
* This Is the price bid at the morning board
no tale was made.
1
2
Pullman's Palace Car (guar.)
.,
I
I
I
1
'.1
;
agreement on a silver bill which has a good chance of
becoming a law, and which it is assumed will add materially
tlio
to the currency of the country.
But the silver bill is only the final touch which has given
impetus to a niarkot already tending towards an advance; as
tlie long accumulating effect of increased railroad earnings
and improvement in different properties, without any corresponding advance in their securities, had brought things to a
condition where an upward movement was almost assured.
There has been too little made ot the recent very decided
improvement in the prices of grain wheat, corn and oats all
selling materially higher than a few weeks ago. If these
prices are maintained, as now seems probable, the next few
months ought to see a large movement in corn and oats, with
a better profit to the farmer.
Railroad earnings are fortified this week by the Pennsylvania statement for March, showing another heavy increase in
gross earnings on the hues east of Pittsburg, but a small loss
in net surplus on the Western lines. It is usually considered
that the Pennsylvania system. East and West, represents tlie
general business of the country more thoroughly than any
—
State and Railroad
week no
Bonds.— During
transactions
in
State
Exchange, but on Wednesday and
the early part of the
bonds took place at the
.since
the following
were
sold: $20,000 La. con. 4s at 94-"^; $21,000 No. Car. consol. 4a
at 97-J4 and $10,000 6s of 1919 at l'25i^: $23,000 Ga. gold 78 at
101%; $10,000 Va. 63 def., ti-ust rects., at 7=^, and $13,000
Tenn. sett. 8s at 75^^.
In railroad bonds, the business this week has been on a
larger scale «nd more widely distributed ; prices are still advancing, and many issues have touched the higliest ix>int of
the year. The bonds showing most activity were Ft. W.
Den. Ists, Rio Grande West. Ists, tlie Atchison issues, Rich.
W. P. Ter. col. trusts. West. N. Y.
Penn. issues, Reading
&
&
&
incomes and Tex. & Pac. incomes.
Among the numerous
advances may be mentioned the Col. H. V. & Tol. general
6s to 82}^ from 77 last week, and the 5s to SO from 76. The
Mo. Kansas & Tex. new 4s have Ijeen very active, jiartly on
foreign account, and reached their highest price at the close today 781^; the 2ds interim certs, were also active yesterday
at 43^ to 44%, closing to-day at 44^.
It is impracticable to
name here all tlie bonds that have been notably strong and
other line.
In our list of highest and lowest prices ot stocks and bonds active, but the prices on another page will show the ciosiiTg
at the New York Stock Exchange, given on pages following, figures and the range since Jan. 1.
Railroad and Miscellaneous Stocks. Business at the
it is found that 41 stocks and 52 different bonds have reached
higher prices this week than at any other time since January 1. Stock Excliange this week has been of a most encouraging
The open market rates for call loans during the week on character, and the bull element has been decidedly in the asstock and bond collaterals have ranged from 2)^ to 9 per cent, cendant a number of stocks have touched the highest prices
with 4 per cent as a fair average. Prime commercial paper is of the year. Among the several causes that may be mentioned
as contributing to this better condition of things, is the greater
quoted at 5^(<i 6 p. c.
The Bank of England weekly statement on Thursday showed demand abroad for American securities, the behef that
a loss in specie of £483,000, and the percentage of reserve to the railroad situation will improve rather than retrograde,
liabihties was 44'45, against 45'30 last week; the discount rate the agreement on a silver bill, and (in the case of the
remains unchanged at 3 per cent. The Bank of France gained coalers) a feeling of more confidence regarding the future of
the coal trale. The dealings, too, have been of a more ex15,735,000 francs in gold and 6,125.000 francs in silver.
The New York Clearing House banks in their statement of tended character than of late, showing a widening market.
April 19 showed an increase in the surplus reserve of $872,050, Lackawanna, Delaware & Hudson and Louisville & Nashville
the total surplus being $1,324,450, against §452,400 the pre- have been among the most active stocks, and on Tluirsday
vious week.
Rock Island was particularly strong, and Mr. Cable is repotted
as saying that the R. I. annual statement will be very encouraging to stockholders. Lackawanna has been bought freely by
1890.
Differtn'efrom]
1889.
1888.
April 19.
trtv. meek,
Aprtl 20.
Mr. S. V. White and others, and Delaware & Hudson has been
April 21.
advanced on the strength of the issue of stock which is to be
«
$
made
to retire the bonds due January, 1891. The armouuoeCapital
01,002,700
60, 762,700 50, 512.700
Surplus
58,249,000
53 ,452.700| 58,,928,400 ment on Thursday of an advance in coal prices and a pro-
—
—
;
i
Loans and
disc'ts 403,82(1,500 Dec. 2,788, 200
3,081,200 Inc.
10, 200
410 897.100363,,672,200
Circulation
Net deposits
Bpecie
Legal tenders
408,884.200 Dec. 1,354 ,«00 440, 035,000 374,,918.400
Reserve held
Legal reserve
103,545.500 inc
102,221,050 Dec
7(1,190,100 Dec. 908, 500
24,H4<J,400 luc 1,441 ,90(1
Surplus reserve
1,324,450 Inc
,
4 ,135.0(10!
7,,720.700
87, ,771, SOO; 74,,94s.,'iO0
34, 473,600} 33, 027.100
533, 400 122, 245,400107,,975.900
338 ,650 110, 158,750j 93,,729.000
872,0501 12,086,050i 14,246,300
.
—
Foreign E.vcliange The market, though quiet and firm
of the time. bet:ame weaker on Thursday, with a freer
offering of security bills; and |)osted rates to-day are 4-86 and
4'88; on actual business they are: Bankers' 60 days' sterhng,
4 8;ji'4^(34 85^4; demand, 4 87(a 4 87i^; cables, 4 8714(34 873.<.
The posted rates of leading bankers for foreign exchange are
as follows
most
:
April 25.
Demand,
Sixty Days.
Prime baulfers' sterling bills on London.
4 80
Prime commerciaV
„
4 84i4<»4 84I3
~
Docninentary commercial
4 84>4'i4 84>2
Paris (francs)
Amsterdam
5 18% 5 18ie,5 lOU'iS 15%
40'i.®40i4
4038o40']s
(gull(lers)
Fraulifoit or
4 88
Bremen (reichmarks)
9516*9514
I
9508*9541
The following were the rates cf domestic exchange on New
York at the under-mentioned cities to-dav: Savannah, buying
par, selUng
1^ a
14;
premium
;
New
Orleans, commercial,
May limited to 2,500.000 tons was also a strengthening influence. The rise in Rio Grande & Western is accounted for on the expectation of a large througli traffic to he
received from the Missouri Pacific, Rock Island and other
lines as soon as the standard-gauge route is completed.
The
Western National Bank stock continued its activity this week,
and reached 132 on Monday it has fallen, however, and today closes at 113. Flint & P. Mar. was at one time quite
active and advancing, and on Thursday the Oregons were considerably dealt in, Navigation rising from 102-^3 to 108i^, subsequently reacting, however, and closing to-day at 103. Mo.
K. & T. new pref. stock interim certs, and Chic. & Atlan,
trust rects. (in the unlisted department) have been active, closing at 24 and llJs, respectively. Chicago & East 111. (com.
and pref.) has been weak.
To-day St. Paul, Lackawanna, Mo. Pac. and New England
were all active and very strong.
Silver bullion certificates Iiave sold largely this week, the
transactions up to Wednesday P. M. being $413,(X)0 at 101 to
IO31-0; on the announcement yesterday morning that the silver Dill had been agreed upon, the price rose, $280,000 being
duction in
;
sold at 10.5-1^ and §260.000 to-day at 106-107.
In the Trusts department Sugar has been very active, with
Chicago Gas next, and more doing in Lead and the general
list. Sugar closed to-day at the highest point of the year 73?8,
against 68,V^ last week
Lead closes at WM. against I8I-4 ;
Pipe Lines at 343g, against 84,Jg. Chicago tias also reached
50%', and closes toits highest point of the year on Monday
day at 49^8. The stockholders have adopted the reorganization plan, and changed the name to the Chicago Gas Com-
premium; bank, §1 premium; Charleston, buying par.
selling I4' premium; St. Louis, 75c. per |1,000 premiimi;
Chicago, 2.5c. per $1,000 premium.
United States Bond.s. Governments have been steadv, and
Cjuotations are nearly unchanged except for tlie currencv 6s. of ?any; the
plaintiff, Charlton, has begun new proceedings,
'99, which are a fraction lower.
The sales to the Treasury
he Amer. Cotton Oil reorganization also has been completed,
amounted this week to §1, 161,500, of which $572,850 were fours. and the new stock " when issued"' sells at 67 for the pref. and
The statement for tliis week is as follows
20 for the common,
:
7-5c.
—
—
;
THE CHRONICLK
682
STOCKS-PRICES AT
STOCKS.
Active
BK.
N. Y.
STOCK EXCHANGE FOB WEEK EXDINIi
HIGHEST AND LOWEST PKICE8
Saturday,
April 19.
Monday,
Tuesday,
April 21.
AprU
Stocks.
& Santa Fe
Canadinn
Canada SoutUem
Atehison Top.
.........
.......
i c»%/..»vj.......
^jm^mii\t lou Pacific
3814
38'>e
75
75
54T8
381s
7514
5478
54''8
39%
7513
551*
119%120>4 I20I3I21
Central of New Jersey
Oentral Pacific
*31
Ohesapeake &0.—Vot.Tr.cert. 24
623»
Do
do l8t pref..
421s
Do
do 2d pref...
105%
Qiilncy
ChlcaKo Bnrlinmon &
36
Chicago & Eastern Illinois.
85
pref...
Do
6838
Obloaeo Milwaukee & St. Paul.
.
313t
24=8
641s
43%
106
36
85
•3II4
2438
31%
2478
63% 6414
4314 431s
10578 10658
*35
361s
84
86
22.
38% 39
75% 7578
55
55 14
Wednesday,
AprU
3838
84
AprU
38%
38% 39%
75% 75%
5458 55%
85
83
Friday,
April 25.
24.
387e
76
35
24
24%
64
0379
63 "8
43% 42% 43%
10758 107
34%
144 144
9258 9378
16% 17%
48% 50
33% 34%
93
7378
98%
24%
142%
17%
52%
36%
9%
75
23
115
9078
17
'102
98 >4
1531s
101
4514
1021s
Pacific Mail
41 7e 42 14
4058 4112
4178 4258
42
Pullman P.alace Car Co
189 191 191 191 •190% 192 191
Sliver Bullion Certificates
IO3I2
102 103
101 103
102%
1031s
Tennessee Coal & Iron
51
51
51
51
50
51
50
Do
do
pref
105 105
Western Union Telegraph .... "82ii'825f
8268 8314 'SS" 83% 83
257e
4758
19
"
Trust Stockn,
Amer.
(Unlisted.)..
Cot. Oil Trust receipts.
& Cattle F. Trust
Distillers'
National Lead Trust
Pipe Line Certi flcates §
Sugar Refineries Co
26
261s
26% 27 14
38
38
3778
ISI4
841a
6838
181s
18%
3778
1878
8514
6958
69I4
S2
Express Stocks.
Adams
151
151
150
American
115% 116
115
74
United States
Wells. Fareo & Co
Inactive Stocks.
American Telegraph & Cable.
Atlantic
Chicago
&
&
Pacific
75
144
144
84
84
658
Alton
Chic. & Atl. Benef. Tr. Eec
Columbus & Hocking Coal
EvansvlUe &Terre Haute....
Flint & Pere Marquette
Gt. Northern, pref. (unlisted)
Mexican Central
.
131
8%
2419
119
33I2
74%
20 14
New York New Ha v. & Hart 251
Eio Grande Western ..
181s
pref.
44%
«. , ^0
Bt. Louis Ark. & Texas
314
Texas * Pacific Land Trust
*18is
75
6%
85
83%
7II4
69%
7238
155
116
76
154
•114
75
141% 142% 143
*
8514
27
39
151
117
75%
191
105
51
51
'8'278
"SS"
27
39
27
1878
150
150
1979
62% 62%
32%
76% 76%
2159
•21
4479
2178
81%
11179 11178
36% 37%
1979 20%
3778
3559
49%
98%
46%
99
46% 46%
108% 106
4279
42
lOl's 191
105% 100
50
51%
100
106
42%
191
107
51%
103
"ii"
8378
84%
27
26%
2678
3979
40
19
30 30 Mar. 27
11,681 22% Feb. 24
5,084 58 Mar. 1
3,802 37% Feb. 21
15,379 10158 Feb. 21
1,370 26% Feb. 3
665 70 Feb. 3
106,770 66% Mar. 4
13,276 112% Apr. 9
16,;70 107 Feb. 21
768 140 Feb. 5
66,250 88% Feb. 19
285 15% Jan. 16
600 43% Jan. 13
5,005 31 Mar. 6
118 92 Feb. 19
30,111 66% Feb. 21
981 96 Feb. 17
14,054 18% Jan. 13
164,598 xl34%Apr. 2
1,385 14% Apr. 1
2,103 45 M^r. 26
13,186 3078 Mar. 1
1,317
8% Apr. 14
455 67 Jan. 6
760 20% Jan. 20
500 114 Feb. 20
400 17 Feb. 28
9,836 62 Mar. 1
24,071 104% Jan. 15
2,040 86 Mar. 5
55,066 82% Feb. 24
1.900 37 Jan. 13
6,340 100 Jan. 14
1,312 92 Mar. 4
200 9178 Mar. 3
2,120 108 Apr. S
403
7% Apr. 11
53,346 69% Apr. 11
412 13 Jan. 7
300 1 02 Jan. 6
2,482ll66 Feb. 19
2,650 16 Feb. 24
260 70 Jan. 7
400 36 Feb. 21
13,785 23% Apr. 12
29,785 43% Jan. 7
4,545 17% Mar. 11
1,433
6% Mar. 25
1,800 27 Feb. 27
400 19% Mar. 28
4,200 39% Apr. 14
3,810 30 Jan. 13
25,218 71% Mar. 19
1,700 19% Apr. 11
5,527 43 Feb. 28
30,041 33% Jan. 8
1,800 16% Jan. 17
42,644 33% Jan. 13
39,981 20 Feb. 21
5,250 76 Jan. 18
236il04 Feb. 17
300l 16
Jan. 11
39% Apr. 25
77% Jan. 15
56% Jan. 23
127% Jan.
'150
155
•84
75
75
145% "140
'
4
2
33
10%' 11
25%' 25
25
121
120% 124
j
658
67^
il%
24% 24%
121% 122
1078
37% 367ft
73% 75%
21% 22% 23
260
234% 255 •254
21% 21
2058
21
4778
47% 47% 48
3658
73
21%
i
3
85
134
27.
37
7578
23%
21%
48%
3,123
375gJan. 27
27
25
25
88 Jan.
7158 Apr.
118% Apr.
114% Apr.
143% Apr.
9858 Jan.
18% Feb.
53 Feb.
35 Jan.
97% Jan.
74% Apr.
100 Mar.
25 Apr.
144% Apr.
17% Apr.
53 Apr.
3659 Apr.
10 Jan.
75 Apr.
24 Feb.
120 Jan.
19% Feb.
68 Jan.
108% Apr.
91% Jan.
91% Jan.
3
25
24
4
26
26
27
27
24
13
24
25
24
25
24
28
25
7
31
1
31
25
8
29
54% Mar. 10
112% Apr 21
99
104
117
Apr.
Jan.
Jan.
1259 Feb.
7614 Jan.
18% Jan.
105
Apr.
10858 Mar.
18% Jan.
71% Jan.
3979 Mar.
27% Jan.
49% Feb.
20% Jan.
8% Apr.
32% Apr.
22% Jan.
63% Jan.
3359 Jan.
76% Apr.
22% Jan.
56 Jan.
39
Mar.
23% Apr.
43% Feb.
23% Jan.
82% Apr.
109% Apr.
19%
92
1 106
Mar. 12 48
Apr. 11 108%
Feb. 27 427b
Feb. 28 193
Jan. 27 107
Mar. 17 89
Mar. 18 119
18,814x81% Mar. 20 8578
1,550 4359
5,795 97%
21.390 36%
1,678 187
992,000 35%
1,800 43%
5 96
9,575
Apr.
3
23
23
8
27
28
22
14
27
e
21
29
1
4
25
24
29
28
27
25
28
2
25
2
7
29
21
22
25
22
24
Feb. 21
4
2l!
8
10:
Jan. 9
Apr. 22
Jan. 27
Mar. 24
Jan. 28
Jan. 27
Jan. 27
Mar. 18
Apr. 24
Jan. 10
Apr.
Apr.
Jan.
Apr.
Apr.
Feb.
Jan.
Apr.
Apr.
Jan.
Apr.
Jan.
Jan.
Jan.
21
17
8
25
25
25
28
24
23
16
25
7
27
29
32% Jan. 4
41% Jan. 28
22% Jan. 27
108%
73%
Jan. 21
Apr. 25
17 150 Mar. 19 156 Jan. 31
142 113'4 Jan. 4 116% Feb. 8
522 70 Apr. 11 90 Jan. 31
168 135 Jan. 7145% Apr. 24
257
1,323
84
4%
7 129
Mar
7|
87
7
6 135
Feb. 27;
Mar.
Jan.
Apr.
Jan.
Apr.
27
21
24
25
669 Feb. 28 11%
16,9751
Jan. 10, 25% Apr. 21
5,115; 15
Jan. 17124 Apr. 24
l,200l 96
9,495 23% Mar. 11 37% Ayr. 24
3.190
6,650
71
Feb 19 7379 Apr. 25
1779 Feb. 18,
23%
186 244% Jan. 10 253
5,312
4,752
1,000
3,417
20% 20%
Exchanges, x Ex dividend
20% 20%l
9
9
10858 Jan. 27
1,515 110 Apr. 12 115
6,090 29% Mar. 5 37%
10,612 19% Anr. 12 2258
4 38%
3,800| 30% Jan.
71,145 61% Apr. 7 6878
Feb. 25 14
3,630 12
Apr 11 2934
7,110! 25
7,723: 30% Jan. 11 36%
5,748 67 Feb. 24 75%
6,090 28 Feb. 17 36%
1,100 36% Mar.
19% 46,814 16% Feb.
155
116
75
150
3
Jan.
27% Jan.
65% Jan.
45% Jan.
240 36% Jan. 27 40% Apr.
225 87% Feb. 11 96% Jan. 8
680 31%Jau. 18 31% Jan. 13
84% 85 1,411.000 79% Apr.
72% 73% 210,050 50 Jan.
•130
»om both
Mar. 19
Feb. 27
Feb. 4
99
85
7
Priees
Jan. 15
162%
1.34
5
31,578 30%
1,680 7158
8,765 52%
3,430 113%
1890.
±ugae8l.
2
81
'These are the prices bid and asked; no sale made at the Board.
Lowest.
2
•130
3
Shares.
1,
Jan.
99
85
7
134
1
Bange Since Jan.
Week,
U
1, ~"
1890L
160% 159% 162% 14,261147 Jan.
100^ 100 100
310 92% Feb.
83
3
20%'
JAN.
•102% 103%
140
1
AND SINCE
48% 49% 61,825 41% Mar. 13 5058
49% 51
22,020 39% Jan. 2' 52%
400 101% Apr. 7 103
32
103
85
678
7
130 130
7478i
36
74% 75%
29% 30%
144
37
38
65% 6378
12% 12%
27% 2758
74
145
10%
815b
40% 40%
90% 90%
33% 34%
75
145
0%
42%
22%
19% 19%
75
6%
22
•109
114% 114% •114% 116% 116
•130
9% 1038 10
24I2
247g 25%
25
23% 25
120
120 120 •115 121 •115
33I3
3414 3514
3514 36%
36
75
75
75
74% 74% 7478
21
21% 2II4 21% 21% 21%
253
251 255 •254 255 •233
21I4
1978
20
21
21% 2058
46I4 47%
46
46% 47% 46%
314
3% 3%
3
18% 1978' 1978 206i 20
19
2158
49% 49%
38% 38=9
1
155
og**
33
1979
32
39% 39%
19% 191;!,
83% 83
70% 72581
19%
82% 83%
69% 70%
19%
1878
8178
6% 7
131 134
958
9% 10%
133
27% 27%
38% 38%
42
4278
26%
48%
19%
^
32
38%
191
103
17
110
•70% 71
39% 40
.'
. .
9979
107% 107%
17% 17%
,
5058
4838 49%
48% 50
48%
5214
51
52
51
51% .50%
102% 102% 102% 102% 103
102%
98I4 98%
98% 98% 98% 98% 98%
15358 I5414 154 154% 154% 15738 137%
IOII4IOII4
100% 100% 100%
45% 46
ie" "is" 45% 45% 46
101 7e 10178 •101 102
102 102% 102%
9%
75
23
7^2% '73%
sm
31%
53
36%
88% 89%
45%
111%111%
9858 98%
93 93%
111% 112
7%
49
99
25
144%
17%
45
.
102
74%
115%
17% 17%
64% 65
108 108%
.
49
108
31% 34%
80% 80%
70% 7159
114% 118%
113 114%
83
W
5218
1021s
5568
2458
.
mincellaiieouti Stocks.
Chicago Gas Trust
48 14
Colorado Coal & iron
5158
Commercial Cable Co
1021s
Consolidated Gas Co
98
Delaware & Hudson Canal
153
Edison General Electric
101
Oregon Improvement Co
4514
Oregon E'y & Navigation Co. 10114
39%
76
122% 122 123
32% *32% 32%
695g
6878 6958
69
6959 7068
6878 6938
ea's
113% 113% 11378 114%
pref. 113% 1131s 113% 113% 113% 114
Do
IIII4 Ill's 111%11214 111%11214 1117e 11238 112% 113
Chicago <& Northwestern
143 143
143 143
143 143%
143
pref. 1421s 142I3 142
Do
92
9358
9178 92%
92% 91% 92% 92
911s 01%
Chicago Rock Island & Pacific.
•16
16 17%
1738
1513
16
I513
1''*
161s
PiitsburgChicago St. Louis &
lis
47 49
49
49
48
48% 48
48
48
pref. *47
Do
3338
33
33% 33% 33%
Ohic^o St. Paul Min. & Om.. 3278 SB's 3338 3358 33
•93
95
OBifl 961s •95
95% 95%
pref.
Do
73ie 73%
7214 7338
72% 73% 7258 73% 73
74%
Cleve. Cincin. Chic. & St. L.
-98% 99
98% 98% 9858 98%
pref. *98% 99
981s 99
Do
23i«
2358
2314
2314
24%
25
23
2338
23%
24%
Columbus Hocking Val. &T0I.
Delaware Lackawanna diWesl 1393314014 140m41i8 140 14 14078 140% 141% 141% 143%
I6I4
1638
1638
16%
16%
16%
16%
17
17%
16M
Denver & Eio Grande .
4938 49%
49% 50% 49% 49% 51% 52%
Do
pref. *48
3414
3658
3312
33%
3438
3478
36
36
. . assented
331s
345b
Denv. Tex. & Ft.
8I2
8% 9
9
9
9% 9% •9
9%
81s
East Tennessee Va. & Oa
•73
74
74% 74% 73% 73% 74% 74%
Do
Istpref. •72 is 74
22I4 221s
23
2214 2214
23
22% 22% 22% 22%
2d pref.
Do
*114isll6
II514II514 1151411514 114% 115% 113 115%
Illinois Central
•1738 17''8
17% 17% 17% 17% 17% 17% '17% 18
J^ake Erie & Western
6458
64
6438
64% 6458
6438 64%
64% 6314 64
nref
Do
lake Shore & Mich. Southern. IO713 10758 107% 10818 107% 108% 10738 1075s, 107% 10S%
-8813 90
90
89
90
91
91
89
89
89
Long Taiaud
86I4 8714
8858
8714 SSH
88
87% 88% 88% 89
liouisville & NashviUe
47
46
46%
45
46 14 •45
43% •44
45
Iiouls. New Alb. & Chicago ... *43
nils 11238 11078 11158 110% 111% 111 111%
Manhattan Elevated, conso!.. IIII4 112
*97is 98I3
98
98
98
98
98%
98
Michigan Central
93 95
94
9414 9414
9379 9378 93'" "94% 93
Milwaukee Lake Sh. & West.
110 110% 110% 110% •109% 111
111 11178
Do
nref. 109% 110
8
8
778
MiH4 FCan i^ Texiis fruRf rep
778
72
72% "71% "7 2 -18 "ii'^ "72% 7'2'% 7'3%
Missouri Pacific
711s 7238
*13
•11
16
16
.
.
15
15
I514 I514
16
16
Mobile & Ohio
104 1041s 105 103
Nashv.Chattanooga&St. Louis *100 104
IO7I3
10738
id7%
IO714
107%
107%
107%
107%
i'of's
Central
Kew York
& Hudson.
1071s
17i«
17%
17
17% 171s 1738 1738 •16% 17% 17
Kew York Chic. & St. Louis.
7038 7038
70'8 70^8
70
70
70
70
70
70
Do
Istpref.
39
Do
39
39
39% 39% 3958 3958 -39% 397e 39
2d pref.
25% 25% 26
New York Lake Erie & West'n 24% 2518 2514 2558 2514 25% 25
47i«
48
4738 48
4758
47
47
47% 4778
New York & N ew England
48''e
18is 18%
1858 1878
1S»8 1858
New York Ontario <& West. . .
18% 18% 18% 19
*7is
758
8
7=8
8
8
8% •778 8%
New York Susquehan. & West.
3014 3014
2913 291s
30
30
31
32
Do
32% 32%
pref.
*19
19 20
Norfolk & Western
20
20
19% 19%
19% 1914 19
6058 61
6138 6138
Do
62%
pref
60% 6138 62
601s 601s
3114
3158 3238
Northern Pacific
31% 32
32% 32%
•aOhi 3114
Do
7418 741s
75% 75% 76%
pref
74% 74% 7458 75% 75
2018 21%
20% 21'4 "21
21
Ohio & Mississippi
21
21% 2158
213e
47 14 47% 47% 47% 47% 47% 47% 4978
Oregon Sh. L. & Utah North.
47
47
Oregon & Trans-Continental.. 37^8 381s 38% 38% 38
3858
38% 3858 38% 39
2II4 21%
Peoria Decatur & EvansvlUe.
21
2138
20% 21
21% 21% 21% 21%
Phila.& Read.Vot. Trust. Cert.
42
42%
4118 4178
41% 42 14 41% 42
415b 42%
2178 22%
2178 22%
2178 22%
Blchmond&WestP't Terminal 21% 22
21% 22
*79
82
Do
80
80
8058
81
81%
80
81%
80
pref.
14
Rome Watertown & Ogdensb'g •108 110 109 109 109% 109% 109% 109% •109 110
*17
19 20
•17%
20
St. Louis <& San Francisco
20
19
19%
40
Do
39% 39% 40% 40%
40%
pref. *36ia 381s
*88i3
88
Do
•88%
91
Istpref.
90% 90% 89
891s
St. Paul & Duluth, com..
34
34
33% 33% 33% 33%
11214 iiiM 112 II2I4 112% 112% -111 112
Bt. Paul Minn. & Manitoba . .
ii"i" i^ii%
Southern Pacific Co
3578 36%
3558 3578
36% 3714 36% 36% 36% 37%
Texas <& Pacific
2018 20ie
20% 2038 20% 2038 1958 20
19% 20%
Tol. Ann Arbor&N.M
37% 38
37% 3779 37% 37% 3768 3758 3758 3778
Union Pacific
6458
64
6358 64I4
64% 64% 64% 6578
64% 65
Wabash
12% 12 5e 12% 1258 1238 1258 12% 12%
121s 121s
Wabash, preferred
2738
27
2679 27%
2678 27%
26% 27
27
2714
Wheeling* Lake Erie
3558 36
36 14
36
33% 3578 35% 35% 3359 36
Do
do
pref.
74% 7478 74% 75
73% 7458 73% 74% 7459 73%
3OI4
Wisconsin Central Co
2915 291s
30
29% 30%
29% 30% 29% 30
17%
39%
25,
Sales
of the
23.
73% 75%
54% 55
83
APRIL
Thursday,
121% 121% 121% 121% 122%
3214 3214 31% 32% 31%
24
2458 24%
2438
24%
6314 63%
63% 6358 63%
42% 44 ,i^^ *3
42%
103% 106% 105% 106% 106%
35
33% 34
34% 34%
84
[Vol.
Apr. 25
Apr. 21
21% Apr. 23
40 Mar. 31 48% Apr
7% Jan.
27eApr. 25
18% Apr. 9| 23% Jan.
15%
Feb. 27,
April
IHE CHRONICLE.
26, leflO.]
INACTITE STOCKS—Quotations
Alb'ny&Susq.
Bell.&So.
Ill.pfl
Bos.AirI-.iii(!,pf|
Bid.
Auk.
168
115
104
176
G.BayW.A8t.P
Cleaned I'g.
Iowa Cent
111.
do.
1
M.H.<feO.,pref.
Mllw.
I
&
89ifl
55
North.
Mo.
AND MiSCEL.
lOhloIud.&W'n
14
do.
j
91
75
Range
Apt. 25tApr.l8
I
Pitts. Ft.W.iC
Pitts. AW.tr.re
do. pref. do.
85%
85%
Wa
77»2b,
109
99
1989
Debenture .">a, 1913
Denver Division, 4h, 1922
Nebra.-(ka Extension 43, 1927
Chic. & E. 111.— 1st, 8. f ., 68, 1907
Consol. Us, 1934
General consol. Ist, 53, 1937..
.
-
Apr.
621a Apr.
17 Apr.
7914 Apr.
110 Feb.
100 Jan.
122 Jan.
128 Feb.
1121a Apr.
116 Jan.
105 Apr.
110 Feb.
Feb
Jan.
Feb.
Jan.
Mar.
11913 Apr.
I2413 Jan.
ugifib, 120
128 b. 127 b,
H2'8b, 111% llO^Jan.
ll3>sb. 113%b, 113
Mar.
104 b 106 a. 103 Jan.
I07I9 Jan.
112 Jan. 116% Mar.
IOOI4 Apr. 102''8 Mar.
11513 Jan. 118 Feb.
109i8a.
114
114%
b.
100 14
lOOU
Mar. lOSkApr.
71 'a Apr.
71 14 Apr.
111 b. 110 b. 108 Mar. 11313 Jan.
12658b. I26iflb. 126 Jan. 127 13 Mar.
106 b. 10514b. 104 Feb. 105 ''a Apr.
94 b.
92'8 Feb.
95 Jan.
94i4Apr.
93'8b. 94
92 Jan.
117 b. 117 b. 1161a Feb. 118 Jan.
116 b. 116 b. 116 Apr. 121i3Jan.
97 lab. 95 Feb. 100 Jan.
981a
100
69I3 Mar.
671a Apr.
70%
93%
Chic. Gas. L. &C.— Ist, g,5s,iy37 951s
90% Jan.
Chic. Mil. & St. P.— Con. 78, 1905 128 b. 127 ^b. 124 »8 Jan.
SoutUwestDlv.—es, 1909.
1.3t, So. Min. Div.— 68, 1910 ..
1st, Ch.& Pac. W.Dlv.— 58,1921
Chic. & Mo. Kiv. Ulv.— 5s,1926
Wis. i Minn. Div.— 5s, 1921 ..
l»t,
Terminal 58,1914
&
N.
W.— Consol. 78,
Coupon, gold,
7b,
114
115
11838
114%
107iab. 107iab.
102% 10214b.
103 lab. 1031a
104 b.
142 b.
191o. 143
1902
Blnkiug f und 63, 1929
Sinking fund 58, 1929
BinKing Juiid debent. 5s, 193J
25-year debenture 58, 1909...
Exteution43, 1926
127iab. 127 lab.
llSiab. 11312b.
107380. 1061a
110 b. 112 a.
106 lab. 108 i«b.
100 a. U9 b.
94%a.
Chic. Peo. & St. L.— GUI. 58, 1928
Chic. K. 1. & Pac— 63,coup.,1917 130 b. 129 lab.
105
105^8
Extension & col. 53, 1934
102 b.
Ch.St.l..iS Pitt.- l3t,con.5»,1932
Chic. St. P. M. &0.- Cou.68,19ao 121iab. 121 b.
92
92 b.
Ist,
1917.
b.
Canton58,
Cleve. <t
118%
103%
105
1081a Feb.
100 Apr.
9514 Mar.
131 Feb.
106 Apr.
IO413 Mar.
122i3Jan.
»Iar.
80
99
&0 — l8t,63,gold,1925
Lex. & Big San.—63, 1902.
VN'. <k Denv.
Ist, 6s, 1921
Qal H.&SanAnt.— W.Div.l9t,5s
Gulf Col. & San. Fe—lat, 78,1909
Gold, 68, 1923
Han. i St. Jos.— Cons. 6s, 1911
Illinois Central— 4s
1952
Int. & Gt. No.— Ist, 68, gold, 1919
Coupon, 6s, 1909
Iowa Central— 1st os, 1938...
Kentucky Cent.- Gold 4, 1987
Klnns Co.El.-lst.ser.A, 58,1925
Laclede Gaa— Ist, 58
1919
li. Erie & West,— Ist, g., Ss, 1937
Eliz.
C—
Ft.
lio'
a.
76I3 Jan.
'b.
9714
108 b.
99
35
a.
951a
118
8II3
Jan.
Feb.
Apr.
Jan.
Apr.
Apr.
Feb.
Apr.
Jan.
Apr.
Apr.
Apr.
Mar.
Jan.
Mar. 100
361a
Mar. 38I3
35 %b. 92 Jan.
961a
106 b. 10313 Jan. 107
110 b. 108 13 Jan. 112
96 b. 9OI3 Apr. Iu4
109
IO313 Feb. 109i4Apr.
&
Kaoxv.
Mar. 108
73 Mar. 80
73 Mar. 8213
U8I2 Jan. 119
761a
77
121
Feb.
Jan.
Jan.
144
128 Mar.
117 Feb.
llOisFeb.
112 Apr.
121
120 b.
General consol. 68, 1934
Col. Coal & Iron— Ist 6s, 1900.. 10411b. 103iab. 103
Col. a. Val. &Tol.—Con. 5s, 1931 80
General gold, 68, 1904
821a
Denver & Kio Gr.— Ist, 7«, 1900 11914b.
Ist cousol. 4s, 1936
811a
Det. B. C. & Alp.— lst.g.,68, 1913 100 a.
Det. Mac. & M.— Ld.gr.3i«s, 1911 381a
Dul. So. Sh.& Atl.— g., 58, 1937. 95 kb.
G.—Con., 5s, i9ob
E. Teuu. V.
Apr.
Apr.
Apr.
Apr.
108 Feb.
102 '8 Feb.
97
135
H714 Fob. 121
132 1«
I.— Consol. 78, 1914..
0. C. C. it
95%
128
115
II319 Mar.
113 Jan.
105 19 Jan.
102 14 Jan.
103 Jan.
103 Mar.
142 Feb.
126 Mar.
114
Apr.
IO6I4 Apr.
109 Jan.
105% Jan.
96 Jan.
9113 Jan.
129 14 Jan.
10419 Jan.
100 Jan.
12013 Feb.
92 Apr.
b.
95i58
9314 Feb.
Apr.
b 117
b. Hi's. Jan. 120
Feb.
78 b 74ie Jan.
7714 Feb.
117 b. 117 b. 117:>8 Mar 121 Feb.
100 14 100 "ab. IOOI4 Apr. 102>4 Mar.
llOHib. 11014
10914 Jan. 112 Jan.
76 a. 7314 Jan.
77 Feb.
88%
87 b. 85 Jan.
88% Apr.
84I3
84%
83% Apr. 85 Jan.
104 b. 104 lab. 103% Mar. 105 Jan.
82 13
831a
81 Mar. 87 Jan.
llOisb. 109 b. 109
Apr. 112 Feb.
Iiake8hore.-Cou.op.,l8t,78,190o
125 b. 124 Jan. 126 Jan.
Consol. coup., 2d, 7s, 1903
125 b. 125 b. 123% Jan. 125 >3 Apr.
Long Island- 1st, con., 5s, 1931 117 b. 117 b. 115% Mar. II714 Jan.
General mort., 48, 1938
96 b. 96 b. 95% Apr. 99 Jan.
Loulsv. & Nashv.— Con., 7a, 1898 115%
11513b, 115
Jan. II918 Mar.
Mob.— 1st, 6s, 1930... 11814b. llSiaa. 11514 Jan. II8I2 Mar.
N. O.
do.
2d, 6s, 1930
108 b.
106 Jan. llOisFeb.
E. H.&N.— 1st, 63, 1919...
115 b. 11419b 113 Jan. 114i2MBr.
General, 68, 1930
llniab I15I9
113 Jan. 115% Mar.
Trust Bonds, 68, 1922
10913a. 109 13 Jan. 111% Feb.
50-year 53, 1937
108 a. 105 1« Jan. 106 Jan.
Collat. trust 58, 1931
108 a.
104% Jan. 110 Feb.
Louis. N. A. &Ch.-l8t, 68, 1910 115
115 b II413 Jan. 119 Feb.
99 13
Consol., gold, 6s, 1916
98
95% Apr. 105 Jan.
Louis.Bt.L.cSi Tex., 1st g.63. 1917 98
97%b 9714 Feb. 101 Jan.
Uetro. Elevated— Ist, 6s, 1908
115% 115130. 112 Jan. II6I9 Apr.
2d, 68, 1899
110 b, |l08'«b lOo'e Feb. 10914 Apr.
Mich. Cent.— l8t, con., 78, 1902. 128
127 lab. 126 Jan. 128 Jan.
Consol., 58, 1902
Ill J.in. IIII3 Mar.
Mil. Lake 8h. & W.— Ist, 6s, 1921 124iab. 123 b. 121
Feb. 125 Apr.
Conv. debenture, 5a, 1907... 101 b. looisb, lOO's Apr. 104% Jan.
Exten.d: Imp. s.f.,58, 1929.. 102%
Jan. 110514 Jan.
1021a 101
MUw. At North.— .M. L., 6s, 1910 111 b. llliflb. 110i4Fob. llliaFeb.
l8t. Con., 68, 1913
110 lab. llOia 108^9 Feb. llOiaApr.
Mo.K.&'l'.— New48, when Issued 7oi«
7614
75 la Mar. 77'8 Apr.
Consol., 68, 1920, trust rcc
7814
78i4Apr.
75
7213 Jan.
Cousol., OS, 1920, trust rec
6II3 Jan
6718
64
67% Apr.
80 b
cSi
:
1
Con., 7a, 1904-5-6
Mo. Pacittc— Ist,
8d,78, 1906
Pac. of
115%
con., 68,
1920 112
Mo.— Ist, ext., 48,
112
117iab. 117
1938 9919b. 99
103 b.
2dmon.,78, 1891.
Mobile & Ohio— New, 6s. 1927
General mort., 48, 1938
Note— The
letter
1151a
"b"
a.
b.
b.
>4
114i3Jan.
115
101 13
103
117
Jan.
115%
58I3
indicates price 4
)ll6
Apr.
II212 Mar.
lom Jan
11514b.
61
110% Jan.
109% Jan.
98%
I
</,
Bid.
Jan.
57i4.Ian.
U*>4
'
IOBb
'
63
22
40
120
Blch.^liAll.tr.r.
I
Bt.L.Alt.&T.M.
I
do.
II
64
"e"
19
14
1S2
15
S
185
I
7
23
16
154
prof.
'
'South Car. B'y
iTol. A. O. Cent.
prof.
do.
Uilcii&n.U.gu.
iVa. Midland...
Cahuba Coal...
Cameron Coal.
k olorado Fuel.
36
'
I
Jan.
Jan.
Mar.
Apr.
651s Jan.
anl ".i" pries aautJ;
24
Uacfun-kWat. 100
do.
pref. 100
Homes. Mln'g.
I
1
Laelede (iaJi... • I8k in
Mary'd. Coal..
12
14
Minn. Iron
,
A3
Ontario HUver
43>9 4»
47>3 Penn. Coal
276
Ph.NatGanCo.
Qulcksllv'rMK.
pref.
Bange
Otonng.
Apl.25 tipr.lS
101 b
1021a
Stall. Ch. 4
13213b 132 b
Consol. 58, 1928
107 lab 10713b
N. y. Central— Extend., 58, 1893 104%b 104 lab
N. Y. C. it. H.— 1st, op., 7s, 1 903 130'9
130 b,
Deb'nt're, 68, coup. '84, 1904 11213b.
N.Y.& Harlem— lst,78,reg., 1900 127 b. 127 b.
N. y. Chic. & St. L.— Ist, 4s, 1937 94 14
94
115
N. Y. Elevated— 1st, 7s, 1906.
115 b.
N. Y. Lack. & W.— Ist, 6s, 1921. 1341a
13419
6s, 1011
St. L.— iHt, 7», 1913
f.,
,
.
110
110 b.
N.Y. L.E. & W.— lst,con.78,1920 134iab. 133 b.
Long Dock, 78,1893
109 »8b. 110 b.
120iab.
Consol. 63, 1935
102 19 101
2d consol. 6s, 1969
N. Y. Ont. & W.— l8t, 68, 1914
111 b. 111%
97 19
97 14
Cousol. Ist, g. 58, 1939
N. Y. Sus. & W.— lstref.,5s, 1937 100 b. 97%
Midland of N. J.— 1st, 68, 1910 114 b. 114
Norf.& W.— 100-year 58. ..1990 97 13
95 %b.
North. Pac— Ist, coup., 6s, 1921 116i4b. II6I4
Ill '4b. 111 b.
General, 2d, coup., 1933
lllisb Ill b.
General, 3d, coup. 68, 1937
North Pac.&Mon.— 1st, 68, 193i 108 lab. 109 b.
^0. Pac. Ter. Co.— Ist, 68, 1933. II214
110 b.
Ohio lud. & West.- 1st, 58, rec. 9312b. 8113a.
Ohio & Miss.—Consol., 78, 1898. 115 b. 115isb.
Ohio Soutuern- Ist, 68, 1921 ... 109 b. 108 b.
2d, Income, 68, 1921
45 b. 53 a.
Cons-.,ructlon, Ss,
1923
.
Omaha &
St.
L.— 1st,
b.
.
48, 1937.
68, 1910.
Oregon Imp. Co.— Ist,
76I4
104%b. ld4»8bi
Ore. K. &Nav. Co.— Ist, 6s, 1909 10913b.
10314 b.
Consol., 58, 1925
Oregon A Trau80on'l—68, 1922. 107'4b.
Penn. Co. iias, coupon, 1921
109%b.
—
Peo.Deo.
.
&Evau8.— l8t,6s, 1920
Evansv. Div.— Ist, 68, 1920.
2d mort., 58, 1927
PhJla. & Head.— Gen. 48, 1958..
iBt pref. Income 5s, 1958
2d pref income 58, 1958
3d pref. income 5s, 1958
Pittsb. & West.— Ist, g., 48, 1917
Rich. & Danv.— Con., 63, 1915
Cousol. gold, 58, 1936
Rlch.& W.P.Ter. —Trust 68, 1897
Con. lst& col. trust, 58, 1914
Rio G. Western— Ist, 48
1939
R.W.&Ogd.— Con.,ext,5s, 1922
St Jos. & Gr. Isl.— 1st, 68, 1925.
St. L. Alt. & T. H.— Ist, 78, 1894
2d, mort ,pref ., 78, 1894
105
.
St.L.Ark.itXex.- l8t,6s,exooup.
10113b.
107 '4
110%a.
b.
105
70
.
.
IO913
721a
85
691a
6814
50%
48=8
4114
40
80%
82
116%
88
99»iib.
81
117
87 %a.
99 b.
80
73%
74^8
108%
108
a.
8478
a.
108%b.
105 b.
Ill b.
109 laa. 10914a.
90%
89%
23 19
2d, 6s, 1936
24
.
St. L. & Iron Mt.— Ist, 78, 1892. 104^8
105 a.
109i6b. 109%a.
2d mort, 78, 1897
Cairo & Fulton— 1st, 7s, 1891
Cairo Ark. & Tex.— Ist, 7s, 1897
Gen. U'y &, land gr., 58, 1931
St L. & San Fr.— 68, CI. A, 1906
68, Class B, 1906
68, Class C, 1906
lOlia
General mort, 68, 1931
M. & M.— Dak.fixt., 68, 1910
1st consol., 63, 1933
Do
reduced to 4133
Montana Ext Ist 4s, 1937
San A.&Aran. P.— lstg.,6s,19lu
Ist »5old,6sl926
8hen.Val.— l8t,7s, 1909, Tr. rec.
(Seneral 63, 1921, Trust rec.
So. Car.— Ist, 6s, 1920, ex coup.
Income, 6s, 1931
So. Pac, Ariz.— Ist, 6s, 1909-10.
80. Pac, Cal.— Ist, 68, 1905-12..
1st, consol., gold, 5s, 1938
So. Pac, N. M.— l8t 63, 1911 ...
Tenn. C. I. & Ky.—Ten. D., Ist 68
Blrm. Div., Ist 6s, 1917
112
120
S. P.
101
Ill
120
b.
b.
118iaa. 117
b.
b.
.
.
.
89 Hb.
85 b.
122%
101 isb.
89 b.
85 b.
86 b.
122 b.
56
54
9913b.
10
107 13
9
107%
11158b, lll%b.
100
b.
98
100%
& Pac— 1st, gold, 53, 2000 93%
2d, gold. Income, 58, 2000
39%
Tol. A. A. & N. M.— 1st 68, 1921 105%b.
iTol. A. A.&Gr. Tr.— l8t,68, 1921 109 b.
100 14
107 b.
96 b.
100 a.
92%
38%
Tex.
jTol. <&
OhioCeut— Ist,
5s,
b.
10419b. 106 a.
8813b. 88%
I1414
113%
114i8b. 114%
114i8b. 113%b.
1935 104
106%
108
103
b.
b.
ToU Peo. & West— 1st, 48, 1917.. 77%b. 78 b.
Tol. St L. & Kan.C— 1 8t, 6s,1916 98%
Union PaciUc— 1st 6s, 1899 ... 116 b. 116 b.
Sinking fun<t Ss, 1S93
113
112%b.
Kansas Pacilic— 1st, 6s, 1895 llO%b. 110%b.
lll%b, 112
1st 63, 1896
Denver Div.—68, 1899
l]5%b. 114%b.
Ist cousol., 68, 1919
116% 116 b.
Oreg. Short Hue— 1st, 6s, 1922 114%
lH%b.
Or.b.L..VUtahN.— Cou.58,1919 94
93
Union Eleva.— Ist, gu. 68, 1937 109
109
Virginia Mid.— Gen. m., 58, 1936 88 %b. 86%
do
stamped guar 89
88 b.
Wabash— Ist,
2d mort.,
gold, 58, 1939...
gold, 5s, 1939
Debent. M., scries B, 1939
West Shore— Guar., 4s
West N. Y. & Pa.— 1st 5, 1937.
.
105
10:.%
82 14
50 14
81%
105%
100%
105%
50
a.
98 b.
37%
37
2d mort., 3g., 5sc,1927
West Tin. Tel.— Col. tr., 58, 1938 100 14 100 b.
Wheel, i. Lake E.— Ist. 58. 1926 103 %b. 102%b.
100%
Wis. Cent Co.— 1st g.. 58,1937. 104 '4
5< '4
59
Income, 58, 1 937
all olljor pricei
aal the ran;e arc from
7%
7
t
•
36H
STOCK BXCHANttE. ANB RANGE SINCE JAN.
Jiatnal Uu. Tel.—S.
Aak.
70
79
150
do.
RAILBOAD Aim MI8CEL. BOKDB.
I
26
CoDiml.CoalCo.
45
2'a
63
78
135
46
64
3
1.
86
97
981a
b.
'
& Sara.
Highest.
8318 Mar.
61
54 %
12
161a
78 kb, 701a
109
107
62 >9
71>4b,
Chen. O. &8o. W.— «8, 1911....
Chic. Burl. & Q.— Con. 7, 1903.
Chic.
N. Y.
linee Jan.
LowetU
i Ohio. -.Mort. 63,1911.. 117%a,
102 14
103>4
ist consol. 5s. 1939
711a
R. & A. Ulv.,l8t con.,2-4, 1989 71'9
Ches.
con., 3-4,
pref.
OUlo Southern.
15k
BUITDS.
At.Top.& S. Fe.— 100-y'r 49,1989
1989
100-year Income 58
Atl. & i'ae.— W. V. Inc., tJs, 1910
Uuar., 48, 1937
Can South.— Ist guar., 5s, 1908
2d, 58, 1913
Central of N. J.— Cons. 78, 1899.
Convert. 78, 1902
General inort., 58, 1987
Leh.A \V.U..con. 7s, 1900,as'nt
do. Mortgage, 58, 1912
Am. Dock As Imp., os, 1921 ...
Central I'acitlc— Gold 6s, 1898..
Land grant lis, 1890
2d
pref.
K.& Texas,
BONDS- LATEST PRICKS OF ACUTE BONDS AT
Ototing.
Bid. ,Aiik.
Benns.
6
L.
9H\ do. ada.nd.'
28»9 NY.L.K.&W.pf
'N. Y.&Nor.nt.
9
26'a
3
7
prof.
do.
14
KliiKS. iSEPcnib
Mah. C. E'y, i>f. 112
14%
Mar.H.&Oiit'n
•
<ScSt.
do.
1
8%
>
prcf.
Indicates actual sales.)
I
....
Keok.ibDesM.
(*
ABk.
Bid.
Minn.
7
3
98
•
Hoiis. <&Tex.C.
Buif.It.&l'itts.
iO
do.
prof77«» 80
Burl.C.R.&No.
29
35
Cedar F. <fe M.
47^8
2%l
Cln.W.&B.Tatr
C1.& Pitt.s.itu.. 157
De» M. & Ft. D,
9
6>s
Dos M.&F.IJ.pf 20
25
Fllnt&P.M.pf. 103
BAILBO.i.D
continued.
Bid. Ask.
583
1,
371.
I8ML3
tinet Jan, 1.
Lowetl.
HightMt.
103% Apr.
101 Jan.
13214 Jan.
106% Jan.
103 14 Jan.
130 >4 Jan.
133 Jan.
110i4Mar.
110
112
.Mar.
104% Apr.
131% Mar.
125% Jan. 128
93% Jan.
97
113
Mar. 115
132%
111%
Jan.
Feb.
136
Feb.
Apr.
Jan.
Jaa
134% Apr.
111% Feb.
Mar. 139% Jan
108% Jan. 11014 Mar.
Jan. 122% Jan.
98% Mar. 102% Jan
110% Mar. 113% Feb.
96 Mar. 98 Jan
120
96% Apr.
9914 Apr.
Apr. 118 Feb.
Mar.
97% Apr.
113% Jan. 116% Apr.
110% Apr. 114% Feb.
IO914 Jan. 111% Apr.
IO414 Mar. 110% Apr.
106 Jan. 112i4Apr.
82 Apr.
84% Feb.
114% Feb. 116 Apr.
108 Jan. 110 Mar.
45 Mar. 55 Jan.
73% Jan. 76% Jan.
101% Jan. 105 Apr.
109 Feb. 113 Jan.
101% Apr. 104% Mar.
103% Jan. 107% Apr.
108% Jan. 110i4Mar.
101 Jan. 109 Apr.
100 Mar. 106% Mar.
66 Mar. 73 Apr.
80% Mar. 87 Jan.
62 Mar.
80% Jan.
43% Mar. 54% Jan.
36 Mar. 49 Jan.
80 Feb.
82% Jan.
115% Jan. 117% Mar.
87% Apr. 91% Feb.
98% Mar. 103 Jan.
77 Mar. 81i4Feb.
69 '8 Mar. 75% Anr.
107% Apr. 112% Mar.
104% Jan. 107% Apr.
110% Jan. 112% Mar.
106 Mar. 111 Jan.
86% Mar. 91 Jan.
2214 Apr.
29 Jan.
104 Feb. 108 Jan.
107 Mar. 109% Feb.
100% Jan. 101% Feb.
102»8 Jan. 105% Mar.
88 Jan.
92% Mar.
112i4Feb. 114% Apr.
112% Jan. 115 Apr.
112% Mar. 1 14% Apr.
109*4 Feb. 112 Jam
117 '8 Feb. 120 Mar.
115% Jan. 120 Jan.
100 Feb. 102% Feb.
86% Jan. 90 Apr.
85 Jan.
87% Feb.
85% Jan. 89 Feb.
113% Jan. 123. Apr.
48 Jan.
56 Apr.
96 Jan. 99% Apr.
7% Jan. 10 Apr.
105% Feb. 107% Apr.
112 Apr. 115 Jan.
100% Apr. 103% Mar.
107 Jan. 107% Mar.
96% Apr. 104% Jan.
98% Jan. 103% Jan.
90% Jan. 93% Apr.
37% Apr. 40^8 Feb.
105 Jan. 107% Jan.
107 Jan. 110% Jan.
102 Jan. 104 Apr.
76 Jan.
78% Apr.
98 Feb. 101 Jan.
115 Jan. 118% Mar
il2% Mar. 116% Feb.
110% Mar. 112 Jan.
110 Jan. 113% Mar.
113 Jan. 117% Mar
114% Jan. 118 Mar.
112% Mar. 116% Jan.
92% Apr. 05% Jan.
107 Mar. 109% Apr.
85 Mar. 88 Apr.
87 Mar. 90 Apr.
102 Jan. 105 Apr.
8OI4 Feb.
86% Jan.
47 Mar. 53 Jan.
104 14 Jan. 105% Apr
92 14 Jan. 100% Apr.
29 Jan.
38 Apr.
99 Mar. 102% Jan.
102% Apr. 10o% Jan,
96'8 Jan. 104% Apr.
55% Mar. 69 Jan.
113
95
aetjial sile.
THE CHEONIGLR
684
Vol, L,
BONDS-STOCK EXCHANGE QUOTATIONS ON FRIDAY OF THE LESS ACTIVE RAILROAD BONDS!
SECCEITIEa
Bid.
SECURITIES.
Ask.
Railroad Bonds.
E. Tenn. Va.
Bid.
Northern Pacific- (Continued)—
Coeurd'Alen —Ist, 68. gold. 191 6
1937
Ask.
112
*
Coeurd'A]enc.gen.l8t,g.,63.1938 103
Kq. &lnip.,g.,58
1938!
Mobile & Birm.— lat, g.,98..1937i*
. . .
SECURITIES.
Ask.
& Ga.— (Continued)—
Ist ext.. gold. 58
(Stock- FxchnrtQr. Hrices.)
1928 97 101
Alabama Jlid.-lst, g., 69
Atlantic & Danv.— Ist e., 68..1917
97
Atl. & Pac— 2d W. n.,ga. «6,.1907
Bait. & Ohio— l8t, 68, Park B.1919 II7I9
.
Bid
,
89%
Cent.Wa9hington— l8t,g.,6s.l 938 ....... 106
Norfolk* West.— General, 68.1031 12059
1932 1141a
Erie— lat, extended, 78
New River, Ist, 68
1897i*119»8
1919 115
1934 no
1925
Imp. & Ext., 68
2d, extended, 59
69, Kold
1091s
198S
1923 108i!i 10914I Adjustment M., 7s
,1924 •11212
Cons, mort., gold, 58
3d, extended, 4129
118
1908
89
1920
Equipment, 58
"Beech Creek— 1st, gold, 49.... 19:16
4th, extended, 58
;...1928 103
1937
lOOV
gSH 100
5th, extended, 49
Clinch Val. Ist 59
Boat. H. Tun. & W.—Deb. 5a. 1913
lat, C0U8., fd. coup., 78.
1920
Brooklyn Elev.—l8t, g., 68. ..1924 110^ lllia
Ogd. & Lake Ch.— Ist con. 69.. 1920 101
89
91
Reorg., Ist lien, 68
. 2d, 3-58
1915
1908 iV6" no's OhioInd.&West.- Ist pref.58,19.38
1938
53%
97
B. N. Y. & E.— 1st, 7s
1916 1391s
Bull. Roch. & Pitta.— Gen., 58.1937
Rcorpan. nc.,2d, 59
N. Y. L. E. & W.—Coi. tr.,68.1922 110
Koch. & Pitte.— l9t, 68
1921 *118 123
Ohio & Mi99.— Cons., S.F., 78. .1898 115 1151a.
Funded coup., Ss
1969
88
1911 122
do
Consolidat'd l8t.6s.l922 -118
2d consol. 7s
99
Income, 69
1905 115
1977
Burl Ced. Rap. & No.— l8t, 59.1906
Springfield Div.— 1st 7a
87i2 90
Buff. & S. W.— Mortg. 68.... 1908
1932
Consol. (fccollat. trust, 38... 1934
General 59
Jefferson- 1st, gu. g. 5s
1909 106
1936 100
Minn. &St.L.—l8t, 78, gu.. 1927 106
Ohio River RR.— Ist, 58
Eureka Springs R'y— l9t,68.g.l933
1937 90
Iowa C. & Weat.— l8t, ?8. 19OT * 90
General mort., gold, 59
90
94
Evan. & T. H.— 1st, cons., 68.1921
1921
55
65
Ced. Rap. I. F.&N.,l8t, 68.1920
OhioSo.—Ge=. m.. g., 4s
II7I2 Oregon & California- 1st, 59.1927
1921
lat, 58
Mt. Vernon— Ist 6s
1923
Evans. & Indian.— 1st, cons.. 1926 •112
Central Ohio Reor.— lat, 4is8.1930 '100
Oregon Imp't— Cons., g. 5s. ..1939 92
99 102
Flint&P. Marq.— Mort., 69. ..1920 118 120
Cent. KR. & Bank.— Col.g., 58. 1937
Pennsylvania RR.—
93
8av.&West.— latcon. g.,58,.1929 94
Istcon. gold, 5s
1939 »107is
Pitts.C. & St.L.— l8t, cp., 78. 1900
Cent, of N. ,1.— Conv. deb., 69.3908 117
Fla. Cen. &Pen,— Istg. 59.. ..1918
Pitts. Ft. W. & C— Ist, 7s... 1912
Ceulial Pacific— Gold bd8.,68.189."> IIII2
Gal. Har. & San Ant.— l9t, 68.1910 102
1912
2d, 78
Gold bonds, 68
1896 Mills
99 100
2d mort., 79
1905
1912
3d, 79
130
Gold bonds, 68
1897 "113
1931
West. Div., 2d 68
Clev. & P.— Con9., 9. fd., 79.1900 128
San Joaquin Br., 69
1900 lllis 113
1892 105 105 12
Ga. 80. & Fla.-l8t, g. 68
1 927
fund,
4th, sink,
69
Cal. & Oregon— 8er. B. 6s. ..1892 ....
93
Grand Rap. & Ind.— Gen. 58.. 1924
St.L. V. &T. H.— Igt, gu., 78.1897 113
102i« Green B. W. & St. P.— l8t 68.. 1911
Mort. gold 53
01
19:i9 101
1898
2d, 7s
West. Pacific—Bouda, 6a. .1899 112i9
22
1898 109
2d income, l.st subs, paid
2d, guar., 7s
111
No. Railway (Cal.)— l»t, 68.1907
lOS
.1921
Housatonic— Cong, gold 59
1937
Peoria & Pek. Union— 1st, 6s
7OI3 75
SO.year Sa
1921
1938 V9M
N. Haven & Derby, Cnn9.58..1«18
2d mortg., 4133
Ches. <fc O.— Pur. M. lund, 68.1898 11438
112
Hong.&Tex.C- l9t, m. 1. 7s.Tr.rec.
PhUa. & Read.- 3rt pref. convert
421a 45
68, gold, aeries A
115
1932
1908 115
West Div. 7a,Tru9t reccipt8.1891
Pine Creek Railway— 69
B. & A.-latcons. 2-4a
71
7H2 l9tWaco& Nor.—79
1989
1901 105
Pitts. Cleve. & Tol.— 1st, 6s.. .1922
Ches. O. & So. West.— 2d, 69.-1911 ' 82%
1922
Pitts. Junction— lat 63
2d m.Ss.M. I. Trust receipts. 1913 113
Chicago & Alton— Ist, 78
1932 115
1893 109
781s 80
Gen. mort.68,Trust receipts. 1925
Pitts. Me. K. & Y.— 1st 69
Sinking fund, 69
98
1903 122 124
niinois Central- Ist, g., 4s ...1951 10<l2
Pitts. Painsv. & F.— 1st, .53... 191
I«ui8. & Mo. River— 1st, 78.1900 119
911,
1951
1st, gold, 3129
Pitts. Y. & Ash.- Consol. 58.. 1927
9&"
2d, 7s
1900 118%
Springf. Div.— Coup., 69.... 1898 'IIII2
Presc't & Ariz. Cent. Ist, 6s,g.l916
et. I.. Jacks. & Chic— l8t,78.1894 IO914
1916
1921 '114
Middle Div.— Reg. 3s
2d income, 69
Ist, guar. (564), 79
1894 IO914
C. St. L. &N. O.-Teu. 1., 78.1897
Rich. & Danv.— Debenture 68.1927 102 Is
2d mort. (360), 78
85
1909
881a
1898 *113
1897
l9t, consol., 7s
1191s
Equip. M. 8. f., g., 5s
2d, guar. (188), 78
1898 *113
2d; 68
1907
Atl. & Char.- 1st, pref., 7s. ) 897
Mias.R. Bridge— l8t, 9. f., 69.1912 104
Income, 6s.... 1900 103
Gold, 5s, coupon
1951 115
do.
Chic. Burl. & Nor.— Deb. 69... 1896
9312 961s Rome Wat. <feOg.— Ist M., 78.1891 106
1951
Meinp Div., Istg. 48
44
tailc. Burling. & Q.— 58, 8. f.. 1901 105
1923
Dub. & 8. C— 2d Div., 78.. .1894 107
St. Jos. & Gr. Is.— 2d inc
85
Iowa Div.— Sink, fund, 5a. .1919 107% 1091a Ced. Falls & Minn.— 1 st, 7s. 1907 701s 74
84
Kan. C. & Omaha— Ist, 5s.. 1927
Sinking fund, 49
1919 95%
Ind.Bloom.&W.— Ist, pref. 78.1900 118>s 120
St. L. A. & T.H— 2d m. iuc.78.' 894 106
9(>i2 92
Plain, 4s
1894
581a
1921
98
Dividend bonds
Ind. D. & Spr.— 1st 78, ex. op. 1906
Chic. & Indiana Coal— lat 58.1936
97
Bellev. & 80. 111.— Ist, 88... 1 896 114
Ind. Dec. & West,- M. 58.... 1947
Ch. Mil. & St. P.— lst,88, P. D. 1898 l-'4 125
1923 103
1948
30
2dM., inc. 59
BeUev. & Car.- lat, 6s
2d, 7 3-lOs, P. D
1898 118is 122
Kan. C.Wyan.4- N.W.— l9t,58.1938
Chl.8t.L.&Pad.— Ist.gd.g.Ss 1917
1st, 7e, $ g., R. D
821a
1902 124
L. 8h. &S1. So.— C. P.&A.— 78.1892 106
1061s
St. Loui9 So.— ls(, gd. g 49.1931
1st, La Crosse Division, 78 1 893 1 1 3 14
2d income, 53.1931
Buff. & Er.— New bond9, 79.1898 II8I4 120
do
83
l8t, I. & M., 7b
130
132
1897 '118 119
&Shawt.—
48....
1932
1906
Car.
Istg.
Det M. &T.-lst,73
l8t, I. & D., 78
1899 '119 121
Lake Shore— Div. bond9, 78. 1899 119 121
St. Louis & Chic— Ist, con. 69. 1927
i08i2
l8t, C. &M., 78
10712
1903 1231s
98
Mahon'g Coal RR.— l8t, 58.1934
St. L. & I. M.— Ark. Br., 1st, 78. 1895
Ist, I. <& D. Extension, 78.
1908 128 129
Litchf. Car.& West.— Ist 09. g.l916
98
St. Lou & S.Fran.— Equip., 73,1895 101 la
ISt, LaC. &Dav., 5s
1919 *103is
1931
1898 '1201s
Long Island- 1st, 78
General 3s
l8t, H. & D., 78
1910 *124% 126
.1987
N. Y. * R'way B.— 1st, g. 58. 1927 100
Ist, tru9t, gold, 59
98
l8t, H. & D., 5s
1910 -103 105
1927
2d mortg., "inc
Kan. City & S.— 1st, 6s, g. .1916 90
103
Chicago & Pacific Div., 69. .1910 116
N. Y. & M. Beach— Ist, 7s. .1897
Ft. S. & V. B. Bg.— lat, 69... 1910 102
102is
Mineral Point Div. 5s
1910
104
1916
N. Y. B. & M. B.— Ist, g., 58.1935
St. L. K. & So. Wn.— lat, 69.
C. & L. Sup. Div., 59
1921
Kansas Mid'd.— Ist, g. 43... 1937
Brooklyn & Mont.— 1st, 6s. .1911
Fargo & South., 6s, A88U...1924
1931
1911
1st 59
St. Paul & Duluth— l9t,59
Inc. conv. aink. fund, 5a
1917 103 13 106
1916
2d mortgage 59
BmithtowniPt.'Jcff.—l9t,78 1901 110
Dakota <S:Gt. South., 58
1916 lOli* 102 Is Loin.3.& Nash. —Cecil. Br, 78.1907
St. Paul >finn & M.— l9t, 78.. 1909 112%
Ohic.&Nor.— Esc.&L.S.,lst,6a.l001 113
1909 117 118
1920 109
Pensacola Division, 6s
2d mort. 6s
Des M. & Minn.— l8t, 7s
1922
1907
Minueap. Union— 1st, 6s
St. Louis Division, 1st, 6s... 1921 1171s
Iowa Midland— 1st, 89
1900 '126
1980 67
75
Mont. Cen.— 1st, guar., 69.. 1937 116
2d, 38
Peninsula— Ist, conv., 7s... 1898 '120
Nashv. & Decatur— 1st, 78. .1900 118% 121
East. Minn., Ist div. Ist 5s 1908 100
Chic. & Milwaukee— 1st, 7s. 1898 'IWb
1910
San Fran. & N. P.— 1st, g., 59.1919 99 lol
S. f.,6s.— 8. & N. Ala
Win. &St. P.— 2d, 7s
1907
1924
Scioto Valley & N. E.— l8t,4s,1990> 26% 28
10-40, gold, 6s
Mil. & Mad.— 1st, 68
1905 *115
Shenandoah Valley— Inc., 6s. 1923 * 15
Pens. & At.- Ist, 68, gold... 1921 107 Is 109
Ott. C. F. & St. P.— Ist, 39. .1909 108
Nash. Flor. & 8. 1st gu. 5s.,1937
1021a Sodus Bay & 80.— 1st, 5s, g...l924
Northern III.— 1st, 58
50
1931
1910 108
South Carolina 2d, Oa
Ala.—
1936
So. &N
v.'on. 5s
Chicago Rock Island & Pacific—
88
So. Pac. Coast— Ist, guar., 4s. 1937
Louis V. South.— 1st, g. 68 ..1917
Des Moines & Ft. D.— 1st, 48. 1905 81
48
78.
.1909
Central—
1st,
a.
f.,
1934
89
Texas
Lou. N. O. & Tex.— 1st, 4s
51
1st, 21.2s
1905 * 50
1911
47
1934 40
1st mortgage, 7s
2d mort., 5s
Extension, 4s
Texas & New Orleans— l9t,78. 1905
Memphis & Charl.— 6s, gold.. 1924
1905J 81
Keokuk & Des M.— 1 st, 58 .. 1923 103 is 1U6 Mexican National— 1st, g., 68.1927 94
1912 '105 is
Sabine Division, Ist, 6s
Chic. & St. Louts— lat, 6a
1913
52
1917 47
Tex. & Pac, E. Div.— 1st, 63.1905 *108is
2d, income, 69, "A"
Chic. St. P. & Kan. City— 08. .1936
11
14
1917
Third Avenue (N.Y).— Ist 58, 1937 113 113^8;
2d, income, 69, "B"
Miiia. & N. W.— l8t, g., 58. .1934
104%
1917
1909
122
Tol. A. A. & Cad.—08
Michigan Central- 68
Chic. St. P. it Minn.— 1st, 69.. .1918 12318 127
1919
Tol. A. A. & Mt. PI.— 6s
1931
Coupon, 58
II2I4
Bt. Paul & S.
..
1st, 69
123
1896
1919
102
1940
Union Pacific- 1st, 6a
Mortgage 49
Chic. & W. Ind.— Ist, s. f., 6s. 1919 117
1897 II3I4
l9t, 6s
Jack. Lan. & Sag.— 69
1891 lOlis
115%
General moi-tgage, 69
*117
115
1898
1932
1st, 68
Mil.L.S.&W.-.Mich.Uiv.l9t,68.1934 117
Cln Ilam. & D.— Con. 9. f., 79.1905 123
1908 I0713'
Collateral Trust, 63
Ashland Division— 1st, 68 ..1925 114
2d, gold, 4133
1907
98
1937
Collateral Trust, 5s
Incomes
1041s 107
38
Cin. I. St. L.& Chic— lst,g.,4s.l936 lOOis
1918
Collateral Trust, 4128
Minn.& 8t. L.— la. Ex., 1st, 78.1909 911s 100
Consol., 6s
1895
1920
C. Br. U. P.— F. c, 78
1927
l8t, g. 78
Cln. Jack. & Mac— 1st, g., 53.1936
95
94
70
Atch. Col. & Pac— 1st, 69... 1903
53
57
1891
2d mortg., 78
C.i\C. & St. L., Cairo aiv.-48, 1039 * 90
92
85
Atch. J. Co. i W.— Ist, 69... 1905
Southwest E.xt.— Ist, 78
1910 76
CLCol. Cin. & Ind.— Ist, 78,s.f.l899! 122 123
U.P.Lin. &C"l.—l9t.g., 5s. 1918 ibo 1003*
1921
Pacific Ext.— Ist, 63
Consol. sink, fuud, 78...
1914
Utah Southern- Gen.. 7s ..1909' 113 114
1922
Impr. & equipment, 63.
Clcve. \- Mali, v.— GoKI, 53...193s,*ld7
1909 II213'
Exten., Ist, 79
Minn,
Pac— 1st mortg., 58.1936
ColuriUlci Midland— 1st, g., 6s.l936'
104 "41 Mlnn.S. Stc. M. & Atl.— 1st. 59.1926
190s II6I2
Utah At North.— 1st, 73
Columbia Green.— 1st, 63... 1916 *101
.1926 '100
Gold, 5s.
i'Mis.Houri I'aeific —Trust 5s. ..1917
2d, 68
..11041a
113
Valley R'y Co. of O.— Con. 6s. 1921
llMobile & Ohio-lst ext., 68.. .1927
1926i* 80%
Col. & Cin. Midland— 1st, 6s. 1914
91 '4
Wabash— Deb. M., series "A". 1939
72
1st pref. debentures
Del. Lack. &W.— Convert. 7.s,lK92i 108
St.L.K.C.ArN.- R.E.*RR.79.1893 ^ 1091s
42
2d piel. deijentures
Mortgage 78
ii6"
1907' 133
St.CharlesBr'ge— l8t,6s...l908
St.L. & Cairo—4s, guar
77
79
1931
Syra. Bing. & N. Y.— 1st, 7s.l906|*131
1895'lie"
No. Missouri— lat, 7s
iMorgan's La. & T.— Ist, 6e
1920 114
MoiTisii Essex- 1st, 78
1914 *14U 147
63.1911
Pitts.—
Ist,
&
C.
l8t,78
jWest. Va.
1918 123
Alabama Central- 1st
6S...1918! 116
. . .
'
. .
.
,
.
.
.
. .
.
. .
,
.
1
C—
I
ifc
Ji:
jj.
I
I
I
I
II
2d, 7s
104% Na9h.
189ll
Bonds, 78
78 of 1871
1900
*1 20
1901J
1915i
Pel. & Hud. Canal— 1st, 78. ..18911
1st, extension, 79
1891!
Coupon, 79
18941
Pa. Div., coup., 78
1917I
Albany <S 8u»q.—l8t,gu.,7s.l906i
1st, cons., guar., 6s
1906
Reus. & Sar.— 1st, coup., 79.1921
Denver City Cable -Ist, 69...19»8
I>env. & R. G.— Imp.,g., 5S...1928
126
141
lat, con., guar.,
78
1035a
103%
104
105
112
144
129
No
I
130
St.
N. J. Junction— Guar. l'9t, 48.1986
103
N. Y. N. H. \- H.— 1st, reg. 4s. 1903 '104
liOM
N. Y. & Nortbem- 1st, g.. 59.1927 110
2d, 4s
1927 5314 5838
N. Y. Susq. & West.— Deb. 6s. 1897
2d, 412S
77
1937 76
: North'n Pacitlc— Dividdscrip ext.
108
121
149 ilSlls
101 ioi%!l
8234 8278'
Dnl. &.lron Range— ]9r, 58. ..1937
98
E. Tenn. Va. & Ua.— 1st, 78... 1900 129
Divisional 36
1930 11034
'
1128
143
&
L.— 2d, 68. .1901 1.2%
New Orleans & Gulf— 1st, 68 .1926
N. O. &. No. E.— Pr. 1., g., 69.. 1915
Chat.
Am. Water
W
fb.— 1st
63....
ist con., golu, OS
Boston
Uii.
Gas— Tr.
108
1907
1907
94
cer. 58..1939|*
Cahaba Coal Min.— 1st
g. 78.
.1907'
& I.— «s,g.. 1917
1
94%
10
98
Col. &
Consol'n Coal— Convert. 6^... 1897 '104
Hock. Coal
!
*
j
1903' 95is 97
& F.— 1st 6s
Hackensack Water— 1st. 59. .1926*104
68.1931
1093?
Bridge—
1st
Henderson
g.
1901,* 80
Irou Steauiboat Co.—68
James River Val.— l.st, 6s... 1936 102
NorthwesleruTelegraph—
78,
1904| 1021s
Siiokane & Pal.— 1st, 6s
1936 ice's
People's G as ii Coke / l3tg.6s,1901
St. Paul A: N. P.— Gen., 6s.. 1923 120
$2dg.6s,1904
96%
Co., Cliicago
Heleua&RedM'n— lst,g.,6s.l937 100% 102
I......
DuluthAMaiiitoba— ist,g.68l936 109 1091s Philadelphia Co.— lat 9. f. 6a. 1898
II7I2I
Dul.AiMan Dak.Div.— l.st«9.1937 107
1081s West, Union Tel.— 7s... 1875-19C0
price Friday; these are the latest quotations
Equitable G.
I
1
]
made
this
week.
AP2IL
26,
THE CHR0N1C1.K
1890.J
New fork City Bank Statement for
19, 1890. is aa
foUowB,
the week ending
We omit two ciphers (00) in all
Bankh.
(00( omitted.)
BukofNew
Cavital.
SwfiuM.
Lootu.
Svtcit.
LtOaU.
$
c
«
i
•
York...
2,000.0
2.050,0
2,000,0
2,000.0
3,000,0
1.000,0
1,000,0
Manhattan Co
UerchantH'
KectiaDlos'
America
PlieDlx
City
Tradesmen's..
10, '2
1,641,6
l,2!)l.0|
428.0
2.5008
1.
329.4
130,0
2,422,4'
300.0
600,0
0,082,9!
iuH,6;
l,4>-0,7i
Natiuijal....
State of
New
York..
1,200,0
5,000,0
6,000,0
1,000,0
1,000,0
422,7
1,500,0
Amerioan Exchange..
Oommerce
Broadway
Meroanille
Paolflo
Republio
Chatham
450,0
200,0
700.0
Peoples*.
North Aiuenoa.
Hanover
1,000,0
500,0
6oe,o
500.0
750,0
600,0
600,0
Irving..
Cltlze.nrt'
Nassan
Uarket
Fnlton
Bt. Nicholas
Bboe<& Leather
dk
Corn Exchange
1,000,0
1,000,0
300.0
Continental
Oriental
Importers' A Tradera'
Park
North River
East River
Fourth National
l.-'iOO.f.
;;,000,(i
..
.
240,0
.
25<I,0I
282,9
214.4
28.>,5
300,0
250,0
200,U
760,0
500,f
100.0
200,0
200,0
600,0
300,0
200,0
150.0
300,0
200,0
600.0
200,0
134,3
437.2
409,2
231,8
772.0
737,8
458,7
394,5
61 AO
287,1
300,8
28l,4
512,8
231,6
143.9
381,0
175,7
720,0
Bowery
New York
County..
,.
German. Americas. ...
Chase National...,,,,.
Avenue
German Exchange...
Germ aula
Fifth
Onlted States
Lincoln
Oarfleld
Fifth National
Bank of theMetrop..
West Side
Beaboard
Sixth
X.-xtlonal
W'»et*m
National.*...
First Natlonal,B'kljTj
Total
925,5
2.58.7
1,203.7
812.2
327.9
317.8
611,3
197.1
391.2
664.5
160.7
201,5
18:,1
.3,619.4
4,634.6
4,62'<,l
179.6
110.8
357,0
273,0
663,4
33.^5
1,410,2
743,5
12 -.,5
247.8
114,5
329,8
2,631.2
P46.8
2x9,0
621,9
3,998,5
618,7
62 1,5
314.9
9.<l,fl
1.8(18 3
20.1.8
2,80.">.»
494.0
801.4
698,8
191,0
!t,97.3,5
2,129.8
1,179,1
17,464.2
7,367,0
4,131.0
6.339 81
22.072.5
7,450,9
1,433.8
2,512,0
2,8(3.4
2.736.9
3,088,2
2,164,0
1,109,0
1,106,9
4,875.7
1.033,7
341,4
530,0
710,0
340,6
10,2800 2,743,5
4,5.V2.9 1,126.9
2,9911,7
179,5
2,61^5.0
181,0
4,589,1 1,284.8
3,064,7
580,8
3,271,9,
849,2
262,3
316,9
3,600.0
300,0
Preferretl
Chic. Burl. & Nnrth'n
Chic.
West. .Mich
8,431.6
1,535,9
538,V
3,189.1
Central of Massachnsetts
7,721.0
2.851,7
I0.85H,2
6,719.«
4,3.-)2 2
2.150 1
21,12 '.o
20,43.1 2
993
1,0 (0,0
Ninth National
First National
24.46.1,0
459,1
346,9
106.0
S,H7,0
122,9
Third National
N. Y. Nat'l Exchange-
,..,
688,8
2.723.5
3,077,7
4,403.1
4,610,6
2,272.5
3,200,0
2,000,0
300,0
750,0
500,0
.
al.. .,.,
N itionbl
102,1
465,0
96.5
212 8
22,1
262.0
6.V2.0
.,2
2i>2,2
377,0
614,0
142,2
1,752,8
708,0
243,0
6l3.0
133,5
426.0
137,0
32
3,469,0
1,262,1
8,317.5
4,117,0
8.293,7
1,421,9
2,663,0
3,191.0
2.330.4
12,5180
4,949.7
3,473.3
3,057,7
5,419,7
3,268.1
4.07».6
2,016,5
5,313.8
2,343,0
4.370.0
1,0 9,3
6.841,0
3,940,0
1
61.062,7 68,249,6 403,820,5 79,190,1 24,349,4:408,8,84,2
Capital dci
5«rDlu».
Bakkb.
Txtana.
Lrgnlt.
SpecU.
Dtvositt.- "t'rM'ri Cltarinn.
I
'•
"
"
411,435.113.637,5 627,255,6
572.873.4
674.228.0
29.... 118,731.3 404.577.6lH3.1i04,0 24,3(5.9 412,633,0 3.662,.)
119,312,3 408.057,7:81, 8.10.7, 22,476,6 411,,17j,3'3.718,;
12.... 119,312,3 4OH,G0B,7'PO.iO4,6 22.907,5 410,238,8 3 671,0
19.... 119,312.3 403,eiO,5|79,19d,l 24,349,4 40j,884,2 3,681,2
April 5
BoRton.*
"
64,685,4 153,154,0
64,685,4 162,368,9
64,686,4 153,277,3
12....
19....
PhllR.*
AprU
'•
e
35,793,7
35,793,7
35,793,7
5....
12...
4,128,6 128,194.7 2.874,0j 81,001.8
9.9I!6,9; 4,26.'.,0 li.9,793,8 2.876.0 94 871,3
9,750,9 4,274,4 131,815,^ 2,880,0 104,274,0
9,038.7
95.364,0
95,66j,0
23,330,0
96,013
25,3-5,0
• Tr« otnit two cipheTUn ail these /IjurM.
Iptala.
the Item ''due toother banks."
Bank Stock
BANKS.
America
214
Am. Exch...
l:>4>!i
Asbury Park
Bowery
290
Broadway...
Butchs'AlJ.-. :90
Central
141
ChaHPi
250
Chatham
217
166
80
310
295
City
4aUaUn
•296
Oai-Uuld
400
Kud
126
270
150
340
River.. 150
Im. ATrad'8'
IrviDK
Leather ilts'
Lincoln
Madison Sq..
Manhattan...
.Marketi Ful
Mechanics'..
M'clis'&Trs'.
Mercantile...
600
560
193
253
225
100
190
227
210
250
224
.vietropolitan
10
|425
7
,
Metropolis... 376
Mt. Morris
CJil
»
week.
Bid
Ask.
246
N.Y. CoHuty. 480
N.Y.Nat.Ex. 133
Ninth
158 "a 162
N. America.. 180
190
North River. 160 160
Oriental
22U
Paciac.
178
Park ....
802 310
People's
250
Phcuix..
1S8 146
Produce Ex. 112 116
Republic
.190 193
Seaboard
152
Secoud
335
Seventh
132
Shoe&Leath. 162 170
St. Nicholas. 120
130
State of N.Y. 115
117
Third
115 130
Tradesmen's. 110 112
Unit'd States 215
Western
112
112 i;
West Side. 200
.
105
196
235
225
Merchants'. leO"? 166
Merch'ts Ex. 122 1128
I
tliis
Boston and
BANKS.
New York...
Bid.
Greenwich..
Haiiover
Citizens'
,
— Latest prices
Germauta
147
176
Columbia.... 230
Commerce... 212 213
Commercial.. llO
110
Continental . 140
Corn Exch. . 246
East River.. 165
11th Ward... 150
Fifth Ave.... r.iOO
Fifth
260
First
'2000
First N .S. I. 113
14th Street.. 165
Fourth
168
t Inoludln*, tor
German Am. 121
German Ex. 270
360
4700 5000
500
Chemical
List
BANkS.
Ask
Bid.
91,152,0 2.137,0 65,774.4
93.609.0 2,132.0 71,496.7
94 316.1 2.13rt,0' 74.284.4
24,t-97.0
350
Murray Hill 300
iNassau
165
.
,.
-
Il76
City Railroad Securities— Brokers' Quotations.
A
Bl'ckerSt.
1st mort,.
Br'dway
ft
i'ui. !'.
7s., 1 900
-Stk.
26
114
7lh.4v..8t'k.. 2'20
1st niort., 5s, a904
106
2d mort 58, I9l4
105
B'way .Sui face b'ds...l924 105
Bonils «;uar., 58, 1905
92
Brooklyn City— Stock
168
l8t mort, .58, 1902
lOi
Ist mort., 7e, 19C8
108
Central Cro.88town~Sl'k. 144
1st mort, 6s, 1922
119
Cent. Pk.N.&E.Riv.-Stk. 122
Consols. 7h, 1902
117
Chrtsfph'rAlotb St.-Stk. 143
Bonds, 7n, 1898
110
Pry Dk.E.B.* Bat'v— Stk \\z»
Isl mort.. 7s, I(.93
106
D.D. E,B. A B.-Sci1p 6e.. 1103
Eighth Av.-Stock
185
,
28
136
225
108
106
108
96
161
106
110
145
122
126
1'20
131
113
140
107
li6
190
KIghthAv.— Scrip,es,1914 106
&
Gr'ud
F'ry-Stk. 2110
108
40
l>,t nioit., 63, 1910
113
2d mort., income, 6s
37
Houst.W.St.* P.F'y-Stk. 200
1st mort., 7s, 1894
119
iNlntti Ave
105
Second, Ave. —Stock
11.7
l8t taiin., Ss, 1910
105
Sixth Ave.— Stock
ll-O
1st mort., 7s, liOO.
ICa
Third Ave.— Stock...
250
Bonds, 5s, 1937
Twentythinl St.—Stock. •270
1st mort., 78, 1893
106
42.1
I
St.
Isl mint.. 7», 1893
4'2d St. Mailh.i 8t.N.Ave.
!
I
42
116
60
110
112
110
us
'116
121
101
MO
100 «
Cons.
177
6s, C.
A
18834
138»i
K., 1023.
North Pmin.— Ist M.,78. 117>« l;8H
General mort. 7«, lft03.l
181
N.Y. Phil. ANorf-let,6a HO 113
Incoiee. B48
Penn.— Gen.6s, conp.1910 130 ....^
>»
t
Mass
123
coup., 1905 ... •12J
Cons 5s, coup., 1919... 113
4>as, Tinst L'tan
Perklomen— Istso. 5s, *18
Cons.
BONDS.
6.S,
2dsel1e8
A Toi>eka— Oen., 4s
Income, 5s
Burl. A Mo. R. in Neo.—
5a,
.918
Phlla.
A
Krl»-Gcn.5s
60
113%
'
100
General mortg. 4s
A
'120
Exempt. 6s
102
102
•
Pa.AN.Y.Can-«scp.'10
4tch.
Phlladol.
Bead.— 1ft, 6s 122
Non exempt, 6s
2d, 7s, C.
R., 1893.... >109>4 110%
Cons., 78, couii., 1911... ]8l>i 133
Plain 4s. 1910
,„„,
Cons., 68, g., I.K.C.1911 120
Chic. Burl ANortb. stes. 1SS!»
102 4 102^4
18
Imp., 6s, c., coup.. 1897.
2d 6s,
ChloA West Mich. gen.Ss Ojl". ;91'e
Con. 5a,, 1st sei'.,8t'mp*d i02" 102%
BS"! 89
i;..nsol.of Ver •.out— fta..l
Deferred incomes, coup
10
13
Current Riv.-l8i,5s,1927 JOl
Phil.W. A Bait.— Tr. c, 48 103
103%
78.1 103
Pitts. Cin. A St. L.-78,CP, 117
Det Lans.
125
ICasteni..vlasa.— 68, 1906
Poughkcepsie Bridge— 6s 85 >« 86*'
Freem.Elk.AM V.— lst,68 *12'2
Schnyl. R. E. S.— 1st, 68..
106%
*121
Unstamped 1st, Os
[Steuben. A Intl. 1 si n.. 5fl. ibs"
K. C. Ft. Scott A Mem.,6s
U nlted N. J.-<J. 6s, 1901
89
99'* Warren A Frank.— 1st. 7s 109W liO
K.C. Mempb. A Birm— 6a
West Chest'r— Con.7s,'91 \0i^
Kan. Clt. Kt. Jo. A O. B.— 7s *i21 Vj 122
Wett Jersey— Isl M., 7a.. 122>,
K. City Clin. A Spr'd.-6s *-•••Atl.-lsl, 6« 106
W. Jerser
Little R. A Ft. Sm.— 78...' ,99
Loulsv.Kv.ASt.L.— lst,68 *109
West Penn.- Pitts. 3r..eB 'HI
'
77'a
2dmort.,2.63
I.
A
I
ANo.-M
I
H*
i
A
HALT MOKE.
RAILROAD STOCKS
A Ohio,
Mar. H. A Ont.-1925, 6s. '105
*
1923, 6s
—
-2d prefCentral Ohio
Preferred
Charl. Col. A Augusta....
I
Isl mort., 6s
Wiscon.
Western Maryland
100
116
60
l«l
Bl
12
...
RAILROAD BilNDS
Atlanta A Char.— 1st, 7a. 121i| 122%
Income, 6s
103At
99
Bait. A Ohlo-4s, 1935...
Cape Fear A 1 iM.--i8t,8a 103 "a 106
Cent. Ohio— 6s, 1890
Cbar. Col. A Auk.— 1st,, 7a 109
68, 1902....
1898
•
Cent— Ist M., ba
Income, 58
I
PHILADELPHIA.
Clu. Wash. A Bait— late.
2d. 58
3d. as
lat Inc., 5s, 1931
BAILIIOAD STOCKS!
Camden
98
ist pref... ...^.. ...;..... *1'27
I
2d mort., 6s
2d mort., scaled, 3s
Ogdens. & L. O Cons., 6s
Rutland— IH.
t
Baltimore
72',
Mexican Cen —48., 1911..
40
1st cm. iuc.,38, 193-*
27 Hi
2d con. Inc 3», 1939 ...
S. Y. A N. Eng.-lst, 78. 125
A
Atlantic, pref.
Catawissa lat pref
East Pennsylvania
Glmira A Williamsport...
Preferred
* Last price this
t Per share.
70
67
86%
lo"
Seab'dA Ko'u'ke— 6s, 1826
West. Md., 3d guar., 68.
120
Wll. Ool.A Aug. 6S.1910 '118H 120
Ex-dividend.
week.
x
N. Y. and Brooklyn Gas Securities— Brokers' Quotations.
GAS COMPANIES.
...
A
Metropolitan— Bonds
Mutual (N. V.)
Bonds, 6s
_
100
Stock
SECURITIES.
AUbania
A
i"02
C
A
EaotTe-n.
Old
—Stock
IstBs
Income 58
Securities.
SECURITIES.
Bid. >Aak.
2>i
•23s
4%
73
76
^eriphisACba'st consids 116
120
20
.St.
'Mo.
I
18'
39',
10
13
•79%
25
30 H.
Oo.
18>9
•44',;
*24
pref
houtheru
2.1 mort
N.Y. Loan
A
«
34%
1-3B
%
>>l
N. O. Pao. La. d Grant...
Nen'p. N.A Miss. Val
N.Y. V.".8.A Butf
N. Y. A Oreeu'd Lake, 1st
221a
17 Hi
3t
31
84
6>3
Iranr
60
IN. Pao. P. d'Oreille r>lv.
North R.V.. roue. Co.aorip.
I
llSKi 114
A Coke
ll.*nawna A Ohio..........
«Tro..f'-
18%
M8
Ohio Central
AW. —1st acc.lntcert BO 64
2d ace. Int. cert..
26
28
Oceau SS. Co. 1st guar 10: Si 103
10.1.
n
..
do.
iN. J.
40
6
20
...
K A T.'2d certs., W. 1
|Mt DB».i East Sh. Ld.Co. 50
31
lU. Coal
I'll
8S
iii"'
1
Met V
I9I4
66'4
„
Con.sol. 58.
Ask
Bouils. 6s.
K <ely Motoi
Lehigh A wtik™ 'loal..
Little R. A Mem. 1st 5s...
Lo jisv.
Louis A Tex..
Imp..
do. Trusteed stock
Dt tiUei-s' A cat.le F. Tr.
Uni. ». Shore A At— Stk.
Pref
,u.
I
85
Equitable.
Bonds, 68
Exchange— Unlisted
Am. Pig 1 on Stor'ge -war.
17
All. A Cuar. Air Line
90
93
l8t, 78, 1907
IV
122
Brooklyn Klev'd—atook.. 37'a 40
28', 2»^
Brnuswlck Co ..
Orlifon.l« Paciflo
10
Cin':lrnati A Springf
1
Comstock Tunnel
0.21
tiiienial
Bid.
I
Williaiusburg
'l24
Bonds, 6s
108
Metropolitan (Brooklyn)..
Municipal — Bun.ls, 7s.
Fulton .Muulcipi^ .
Vicks
1st inctmio 4s
GAS COMPANIES.
IPeople'8< Brooklyn'
Bid. Ask.
do. consolsdo.
do. 2d 5s...
do.
\ni. tiank Nine Co..
Am. Call le Trust
im. Cotton oil Co
pref
do.
Co
|
1'20
!?assau (Brooklj'n)
Scrip
New York
Ask.
I
120
tea
70
100 103
98I4 90
170
120
115
110 112
100 102
Gas
Hoboken.
Consoli.lated
iersey City
Bid.
I
115
Brooklyn G.s. Light
Cltixena' Gas. Light
Bonds, 5s
Do., pref
GlourK.M Pao.
300
107
182
A Atnlioy. — M. 5s.
A Wllni.-lst, fls..
47S' Leh.V.-lsf,6s,C.AB.,'08
2d, 78, reu, 1910
A
107
260
"a"
37 •»
2d mort«.,7s.
Consol. M., *s
I'entral
N. Kntc.
200
106
333>i
i'lB
Harris. P. M't J.AL.—4s.
Huni'nA B. r.— lat,7a..
com
N. Y. A
S. Y. A New Eng., pref..
Northern
'2.1, .1»,
Aprtl 5....
''
830.242
692,064,6
llOV 110%
Kaston
Elmlra
,
9*
9>
M. York.f
$
Mch. 22.... 118,731,3 403,531.2 81,480,3 24,794,9
83 •
Allegh. Val.-7 3.10s,'»6.
Del.&B.l.n.-lst,78, 1905.
A
A
63<i
66
238
60
,Coiine.'tlnff— 6s
Louisville Evans.
St. L,
Preferreil
tfaine Central
Mancti' sterA Lawrence.
Wisconsin Central
Preferred
t
21,4ii9.8
87
1044
W•i^^
2.293.8
1,140,1
17,753,7
8,252,0
4.918,0
6,895,7
120.6:
1,013,8
'
Norwich
31',
A Kne
Belved. Dola.— 1st M. 6s..
SO
KitchliurK, pref
PlintA Pere Marquette..' .36Hi
Mexican
66
Phil.
IRellsOap— 1st M., es
!CafawlsBa-M. 78, 1900... 121S
jClearfleld A Jeff.-lst, 6b. lie
'
Preferred
Kan, C. Ft. Scott & Mem.
K. C. Momjih. A Birm...
Pciin.iylvanla
Smibury A Lewiston
United co's of N.J
West Jersey
Inc. 7s, enil. o..uti^'04..
I
Preferred
ts
es
82',
A Atlantic.
RAILKDAD BONDS.
Paaasmp.. *
C.'nnectlcut River
xi.64
Kastcrn
1U<^
45 >4
S3
62 T|
68
West Jersey
28
A
Connectlent
Vermont
114.5
2,1911,0
Concord
2.3,012.9
4,972.;i
631.0,
73,4
192,0|
4,347,0
\1\\
Cleveland & Canton
PrefoTTed
IK".
Northern <"cntral
North Pennsylvania
...
Aak
Bid.
Broad Top
y
I
A
A
Preferred
3PH, il,*hlBh Valley.
21 8
Llttb- .Schuylkill.
Ulnehlll A H. Haven
NesquehonlnR Valley....
'363
2,200,0
21,155,4
1,229,3,
252,0,
56,0,
360,6;
649.4
California Southern
Worcester
Ogdensli. A Lake Cbam..
Old Colony
Portland Saco A Potts... •130
Summit Branch
3,459.0
5.520,9
1,3.1.
845.6
148,7
59 .7
355,1
61,8
231,8
287,0
218,3
1,765.9.
1, 78,1,6
Rnnilnxton
30
218
.-...I 174
xV25
fifift.O
6.78">.2
4..V200
13,730,8
Atchison >t I'opeka.
Boston & Albany
Boston A Lowell.
Huston A Maine
Boston A Providence
24:, 9,
6,213.8
672,4
617,31
5f3.3
130,0
125,0
361.0
329.7
167,S
3.812,0
SECURtTIEB.
Ask.
I
1,81)0.3
1,404 2
2,244.,^
BM.
SECURITIES.
BOPITON.
RAILHOAl) STOCKS, t,
10,972
4.«07,«
9.! 8^ 2
.1.616.3
103,0'
1,800,7
1.277.8
3 0«2 fi
1.297.0
3.439.6
17,207.0
18.341.4
274,0
3H4,9
7,llb4,0
7.1.54.0
4,337.6
3,787,9
2,115.3
3,335
1,188,3
2.522,8
1.300 1
2,579.5
14,139,0
12,373.1
4,892.3
8.«3»,b
3,181.9
11,538 2
6,029 4
3.0.3,3
4.679.6
15,0^3,2
3,199,0
3,078,0
2,30ll.O
116,7
664.4
6H,2
477,5
1,773,1
3,234.2
1,578,8
833.9
376,2
897,0
641,1
260,3
499,4
l,3J3,4
261,2
398,3
195,8
693.4
200.0
231,7
1,1X0,9
„...
Central Natioi
Seco.i(l
8.817.0
10.640,0
0,072,0
B-.'2,0
4,^97.0
9,737.3
1.731.0
22,488.0
3.821.2
4.8 K 4
1.97B 3
1,0110,0
Beventh
490 G
10,9''4.7
Obemlcal
Merohaute' Excb'OKe
OreemftiGh
Leather Mannfaot'rs.
1,678
1,37091
54\2
aallatln National
Bntchen*' ft Drovere'.
Hechanlcs' A Traitera
SOU,0
200,0
200,0
600,0
300,0
7.0711,1
1,782,9
1,0(M),0
QaotstlonH in Boston, Plilladelpliia and Kaliiinore.
PollowinK are o'lotHtionsof active stocks and bonds. A full
lilt is niven in the Chronicle the third Suturday if each month.
t>epnaUt,
430,0
\0 2,700,0
9,804.0
1,.<09,1
8H(>,2
l,7rti,0;
April
canes.
685
'Peusacoia v Atinim.
Postal Telegr .ph— Cable
St.L.Aik.AT St ck rights
*
'-SI. Pmil H
.. 1-1 OS
St. • aul A Northern Pac.
Tolclu t'e.'i'iM <s wtlsi...
West. N. Car.— Con.Os . ..
1
8>«
28
4
30
I
I
27
31
I
IS
pref
* Indicates actual sales.
13&
THE CHRONICLE
686
rvoL. L.
Latttt
Jwxrjestmjent
Mamingt
Reported,
1890.
18*^9.
imi. 1 t> Lafit Date.
BOADS.
Wettm
,
il
Gr.Rap.&Ind.—
2dwk
1890.
1889.
%
4,575
55,501
58,482
55,752
854,144
791,930
360.690 5.640,913 5,381.725
57.830 1,072,706
940,54.5
291.125
17,820
271,010
The Investors' Supplement, a pamphlet of 150 pages,
18,9(>6
51,213
38.124
& Chicago. Vlarch
3,637
11,838
11,597
contains extended tables of the Funded Debt of Slates and Gulf
Uousatonic
70,309
201,954
February
156,638
9,320
35.200
30,957
Cities and of the Stocks and Bonds of Railroads and other Humest'n&.8hen .March
Ul.Cen.dll.&So.i Vlarch
1,090,730 1,063,261 3,429,0.")3 3,238,218
Companies. It is published on the last Saturday of every
CedarF.&Min. .March
8,146
7,032
17,644
21,142
Dub.
&Sio'xC.
158,369 146,532
446,027
March
390,188
other month viz., January, March, May, July, September
Iowa lines
165,401 154,728
463,671
411,330
March
Total all
1,256,131 1,217,989 3,892,724 3,699,548
and November, and is furnihhed without extra charge to
March
Ind.Dec.&Wesi. .March
100.124
33,524
26,403
95,440
all regular subscribers of the Chronicle. Extra copies Intcroc'nic(Mx) March
140.010
91,875
243.732
388.402
Iowa Central... 2dwkApr.
29,795
23,980
451,660
509,341
are sold to subscribers of the Chronicle at 50 cents 9ach
Iron Railway... viarch
3,537
4,155
9,633
12,573
J'k'nv.T.cfcK.W<» February
and to others at |1 per copy.
62,142
64,658
133.771
121,775
Kauawha&
Ohio
76,432
wk
Apr.
6,301
4,583
70,973
2d
The General Quotations of Stocks and Bonds, occiipying Kan. C. C1.&.SP 1st wk Apr
102.641
5,670
4,610
63,964
K.C.F.S.
Mem.
&
Apr
74.882
1,253.3.50
1,204^33
Chronicle,
are
published
on
the
lat
wk
85,126
now
tias pages of the
K.C.Mem. &Bir. 2dwkApr.
13,112
360.716
285,077
19,632
third Saturday of each month.
K.CWy.&N.W Febriary
57.120
47,800
30,690
99,1W1
Kentucky Cent March
81,477
82.087
225,018
216.371
Keokuk & West. 2d wk Apr.
5,570
89,813
5,944
98,771
Kmgst'n & Pern. 2d wk Apr.
4,041
45,812
3,037
39 933
Knox. & Lincoln February
11.584
11,253
23,198
22,984
L. Erie All. & So .M>.rch
5.605
15,471
5,096
14,787
L. Erie & West.. 2dwk Apr.
42,273
681,809
43,279
719,614
Jan. 1 to Latest Date
Latest £aming$ Reported.
Lehigh & Hud.. March
54.547
26,925
18,422
71,115
Roads.
L. Rook & Mem. 1st wk Apr
174.200
6.333
155,680
9,862
WeekorMo] 1890.
1889.
1890.
1889.
Long Island
220.190 201.736
606.617
554,916
March
Louis.&Mo.Kiv. January..
33.532
28,355
33 532
28,355
$
22,265
318,044
337,397
21,887
175,396 162,609
358,913:
331,678 Louis.Ev.&St.L. 3d wk Apr.
Allegheny Val. February
21,200,
5,795
7,497;
23,179 Louisv.&Nashv. 2dwk Apr. 342,950 314,845 5,285,303 4,846,963
Annlston &Atl. March
45,499
41,302
598,698
600,174
32.013
9.898
9,899
26,074 Louis. N. A & Ch. ^a wk Apt
Anni^u & Cin. March
2.712
1,108
1,039
2,917
432,539 7,149,315 5,807,188 Louls.N.A&Cor .Vlarch
Atcli.l'.&S. Fe.. l6t wk Apr 548,082
T.
Loulsv.N.O.
&
52.233
63,893
826.169
690,672
4thwk
Mch
36,437
29,473
4()1,200|
wk
Apr
398.641
owned
l3t
Half
27.382
10,443
85.889
619,199 534.790 8,169.715, 6,740,610 Lou. 8t.L.&Tex. vlarch
Total system 2d wk Apr.
62.526
29,566
27,345
59,872
154,068 130.959,
329,004
264,007 Louisv. Soutb'ii. Febiuary
Atlanta & Char. Febiuary
483
14.6^8
5,177
8,463
6,395
29,046
Atlanta & Flor'a March
21,913 Lynchb.&Dur'm March
Cbas
Slemphis
&
27,518
527,800
526,346
Apr.
38,307
wk
2d
Mai'ch
36,393
36,769
131,559
126,060
Atlanta &W.Pt
39,000
24,028
109,580
Atl. & Danville March
68,910 tMexicau Ceut... 3(1 wk Apr. 105,790 100,207 2,046,849 1,781,693
68,015
66,920 1.0;i0.409 1,036,354
63.781
50.2821
863.9361
848.461 (Mex. National 2d wk Apr.
Atlantic .t Pae. 3d wk Apr.
965,076 1,071,950
79,684
80,739
,511,903 1,330,558 4,305.798' 3,682,962 [Mexican R'way vvkMch.2.^
B.ifeO.EastLines March
West
Mil.L.Sh.
&
764.579
887.939
69,928
57,288
449,556
1.249,5641
wk
Apr.
391,285
3d
Western Lines March
1,097,935
32.100
22,523
418,465
325,882
,961,459 1,721,843 5,555.362 4,780.897 Milwaukee & No 3d wk Apr.
Total
March
Mineral
Range..
24,721
8,609
22,974
7,620
38.732
35,394
643,823
March
Bal.&O.Southw, 2d wk Apr.
574.171
286,098
329,061
123,000 109,536
132,480 143,620
388.098
Bait. & Poiomac March
373,095 Minneap. &8t.L. March
8.S.M.
325,227
M.St.P.
&
130,408
130.370
489,215
88.210
69,776:
243.755
Beech Creek
March
211.450
March
554,152 512,613 1,781,873 1,461,827
1,600
Bir.Selma&N.O.lJIarch
1,509
arch
5,640
4,747 Mo. Kan. & Tex.
818,313
786,361
246,771 257,052
36,204
35,863
516,144
March
Baft.Eoch.\- l'itt;3d wk Apr.
590,782 Mobile & Ohio
38,000
91,400
45,452
Bur.C.Rap.cfcN. d wk Apr.
45,794
852,065
742,397 Monterey&M.G March
Nash.Ch.&St.L.
859.546
271,182 290,839
859,083
4,109
2,986
10,654
March
Burl. & Northw. March
14,156
7,676
1.844
2.0S0
8,384
4,134
3,945
Burl. & Western March
12,570
12,063 Nat. Red R. & T. March
58,531
123,230
117,151
60,249
37,612
29.126
Camden & Atl. February
73,095
65,167 NewBrunsw^ck. February
30,170
17,419
14,466
35,592
Canadian Pacittc 3d wk Apr. 275,000 255,000 3,808.149 3,650,607 S. Jersey &N.Y. February
11,147
9,578
48,352
35,606
Cp.F'r&Yad.Val March
132,652
102.367 X. London Nor. yf^ Apr. 12
46".982
11,003
13,906
37,209
715,408 658,80'
Cen.Kli.&B^.Co February
1,589,375 1,349.502 New Orl. & Gull March
2,946,522 2,861,599 8,E 73,781 8,033,479
Central of N. J
February
821,702 843,6U8 1,715,676 1.888,527 N.Y.C. &H.B. March
881,031 965,17
Central Pacific. February
1,743,100 2,049,943 S. Y. L. E. & \V. February . 2,056,487 1,711,177 4,21£,272 3,635,468
896,451
538,659 427,049 l,123,b01
13,556
11.576
Central of B.C.. February
25,511
22,204 N. Y. Pa. & Ohio February
55,9f*3
S.Y.&N.Eng.. February
833,412
798,284
399,005 385,713
Gentr'l Vermont Wk Apr.l2
53,320
122,812
123,152
N. Y. &North'u. March....
45,573
43,665
11,903
Char.Cin.&Ch!c February
20,266
446,001
30,577
531,446
36,119
74,677
Charlest'n <fe Sav February
61,574
148.576
123,566 N.Y.Oiit.&W.. 3,jwkApr.
293,141
275,747
91,029
102,722
Char. Sum.&No. February
6,242
3,193
9,936
5,718 N.Y. suaq. & W.. March
117,509
83,595 1,807,539 1,495,681
Chat.R'me&Col. March
26,000
18,947
88.500
51,027 Norfolk & West. 3d wk Apr.
132,067
61,130
152,313
70,594
Chatt'n'KaUni'u March
7,793
8,332
22,079 S'theast'u (S. C.) February
23,220
558.373 471,200 1.612,174 1,371,140
Cheraw. &Darl. February
10,283
8,868
20,217
17,799 Sorth'n Central. Ma;ch...
139,057
Ches. <&Ohio.... 3d wk Apr.
94,256 2,141,730 1.589,775 Northern PaciUc 3d wk Apr. 418,179 369,982 5,3=9,178 5,176,672
8,986
10,841
Ches.O. &e. W. 3 wks Mch 110,560 110,543
444,784 Ogd.&LakeCh wkApr.l2
439,753
229,344
25,302
21,251
245,428
Cues. & Lenoir February
6,626
6,375
12,787
13,516 Ohio Ind. & W.. 4thwkFeb
Miss
&
84,436
81,904
1,137,639 1,081,129
Chic. & Atlantic. 2(1 wk Apr.
51,094
39,678
613.183 Ohio
737,815
2dwk Apr.
42,306
16,402
45,302
14,332
Chic. Burl. & No February
160,940 149.203
279,940
307,831 Ohio &Notthw.. March ...
2,38370>
889
1,916
Col. & Maysv. March
Chic. Burl. & Q* February
,589,410 2,412,332 5,306,820 4.876.958
133,871
11,201
10,144
155,749
Chic.& Eastt. 111. 2d wk Apr.
56,869
49,480
743,726 Ohio River
818.845
2d wk Apr.
137,584
133,904
50,980
42,854
Chic. Mil. &St.P, 3d wk Apr.
440,500 399,455 7,059.057 6,641.375 Ohio Southern m arch
28,677
45,992
4,764
3,298
Chic. AN'thw'n. March
,910,316 1,893,414 5,558,903 5,067.538 Olio Val. of Ky. 4th»kMch
110,182
37.641
157,095
Chic. & Oh. Riv March
52,298
5,698
5.367
16.229
19.825 Omaha & St. L. March
603,693
576,384
Chlc.Peo.&8t.L. February
30,273
298,986 305,057
26,315
62,117
51,469 Oregon Imp. Co. Feiiruary
Chlc.St.P.&K.C. ;d wk Apr.
79,242
5,470,715 4,796,136 15,41.4,117 13,746,038
48,147 1,204,994
754,155 Pennsylvania .. March
212,293
PeonaDec.&Ev. sdwk Apr.
12,214
210,892
Chic.8t.P.M.&0. February
451,975 429,173
15,251
940,781
795.807
84,967
88,769
Chic. & W.Mich. 2d wk Apr.
42,296
28,182
28,262
45,708l
373.994 Petersburg
February
382.367
543,352
623.542
295,7301 284,782'
Cin. Ga. & Ports. .March
3,684
4,960
11,385
12,692 Phila. & Erie... February
Cln. Jack. & Mai 2d wk Apr.
11,007
1,,508,747 1,309,477 4,389,109 3,933,940
10,040
153.263 Phila. & Read's March
157,251
204.132
216,949
93.820
Cin. N. O. & T. P. 2dwk Apr.
74,041
101,425
65,284 1,153,367 1,011,851 Pittsb. & Weston February
69,192
70,328
Ala.Gt. South. 2a wk Apr.
Pitts.Clev.&T. February
37.693
30,485
31,396
31,85
523,395
537,834
33,291
35,702
12,710
N. Orl. & N. E. 2d wk Apr.
17,760
17,106
Pitts.I^aiu.&F.lFebruary
14,623
304,401
321,812
617,422
42.6.il
62;j,913
Ala. & Vicksb 2d wk Apr.
Total system sdwkApr.
45.649
8,526
8,62
168,167
187,599
Vlcks. 8h. & P. 2d wk Apr.
95,441
58,070:
5,909
6,642
161.634 Pitts. Y. & Ash.
euiuary
177,442
62,472
Erlauger Syst. 2d wk Apr. 136,978 127,023 2,378,054 2,109,448 PI. Koyal & Aug. February
33,060
78 920
45,901
80,985
W.Car.
84,244
42,221
Cinn.Northw'n. March
1,416
47,093
1,464
Februar.v
3,926 Pt.Boy.&
4,77
21,799
17,614
Cin. Sel. & Mou. .March
Pres.iS.Ariz.Ccu. February
7,137
9,874
5,270
9,993
32,367
18,828
61,731
55,485
Cin.Wab.&Mich viarch
QuincyO.&K.C.
21,594
47,101
19,750
40,889
110,801
March
122,623
Clev.Akron&Col 2d wk Apr.
440,008 439.126 1,379,276 1,244,735
15,665
13,876
184,317 ttieh.&D.auvllle. .March
214,338
447,973
Clev. & Canton.. March
Midjaud..
516,679
39,000
Vir.
183,027 170,709
34,581
March
92,762
106.106
240,896
Cl.Ciu.Ch.&S.L 2d wk Apr. 242.076 226,998 3,416,946 3,248,110
256,394
Cliar.Col.&Au. March
76.331
84,514
218.576
Clev. & Marietta March
266,049
81,412
75,226
19,942
Col. & Grceuv. .March
22,377
58,562
56,363
2^2.829
Color. Midland. 2d wk Apr,
230,967
88,639
32,614
West. No. Car. .March
81,172
29,236
433,302
482,054
Col. & Cin. Slid 2dwk Apr.
344.004
488,071
Georgia Pac
5,795
141,400 108,715
5,943
93.412
.March.:...
90,180
21,957
Col. H. V. & Tol. t wksApr.
25,322
111,719
Wash.O.A W.. arch
9,147
8,684
71,465
629,209
652,930
30.177
Colusa & Lake. March
32,022
11,166
1,642
Ashv. & Spart. March
10,936
1,418
4,174
4,822
Covin. & Macon. March
Total 6y.s'm. 2dVk Apr. 249,650 214,100 3,692.555 3,228,246
11,354
8,704
26,278
37,680
47.451
Day.Ft.W.itCh. -Vlarch
55.042
44,157
23.364
114.839 Rich. & Petersb. February
27,806
36,985
121,401
351,483
Denv. & Rio Gr. 3dwk Apr. 152,000 132.000 2,168,819 2,042,277 Rio Gr. West. 2d wk Apr.
378,599
22.100
27.915
12,5oO
Den.Tex.&F.W. March
25,850
238,707 202,429'
8,200
4,300
529,329 Rome & Decatur .March
731,507
723,570
Det.BayC.&Alp 2d wk Apr.
902,075
8,626
9,165
14^.667 Rome \V. Ai Ogd. March
333.128 267,335
156,017
20,862
Det.Laus'g&No 2d wk Apr.
18,860
20,858
19,203
305,038
279,793 Sag.TuscolaJiH. March
7,885
8,694
277,886
DuluthS.S.&Atl 3d wk Apr.
33,993
323,291
29.679
22,420
436,843
360.269 St.L.A.iStT.U.B's 2d wk Apr.
17,883
902,754
B.Tenn.Va,&Ga. February
524,953 463,164 1,127,127
930,799 St.L.Ark.&Tex. 3d wk Apr.
50,269 1,098,259
57,380
13,374
Knoxv. ifeOhio February
50,t:64
46,619
19,483
100,138
93.670 St.L.DesM.&N. vl arch
7,230
4,284
Total system. 2d wk Apr.
111,817
98,256 1,961.027 1,724,871 St L.& San Fran. 3d wk Apr.
1)1.300
99,150 1,757,840 1,579,733
215,497
EUz.L«x.&B.8... February
54,642
273,108
64,011
113,640
133,370 St.PaulifcDurtb March
108,511
83,144
Evaus.&lnd'plib 3dwk Apr.
5,807
4,449
71,57
79.743 8t P.Min.&Man. March
673,610 642,552 1,628,101 1,418,996
50,986
Kvansv. & T. H 3d wk Apr.
19.142
95,677
15,406
272,680
East, of Minn. Mai'ch
14,981
250,010
29,993,
156,185
Fitchburg
February
203,004
444,804; 393,312
893,019
MnutanaCent. vlarch
66 175
818,181
70,987
Flint.&P. Marq •-'d wk Apr.
64,157
47,230
901.392
Total Sys'm. March
706.312
774,590 723,70s 1,926.782 1,626,167
Flor. Ceut.& P. 2d wk Apr.
22.429'
285.993
403,703
21,958
375,177
352,356 S.Ant.i'Ar.Pass. 2d wk Apr
28,080
22,78b
Ft.Mad.cfeN'w'n .Vlarch
144,470
1,6041
132,919,
2,040
ll,b31
1*114
5,273
5,555 8. Krau.&N.Pae, istwk Ap
Ft.W.Cin. &L March
74.682'
47,031
26,863!
25,742
14,744
65,743;
22,391
67,068 Sav. Am. A Mon.
arch
Ga. Car'la & No. February
5.290
9.^,8141
65.718
4.693
4.06J
10,701
L.
8.
&E.
wk
7.465
3d
Apr,
7,696 Seattle
Ga. RR. & B. Co. Fc ruary
178.716
160,916 157,217
179,246!
368,221
12,946
12,113
342,918 8ciotoVal.&N.E. 2d wk Apr.
Geo. So. &Fla..|March
51,23i!l
151.5841
180.100
21.042
Val
vlarch
100,000
70,000
278,307!
55,585 Shenandoah
Gr. Rap. & Ind.. 2d wk Apr.
260,904
149,161
12).316
291,4451
47,349;
42,555
679.924
608.884 South Carolina February
Cin.R.&Ft. W. 2dwkApr.
7,662'
20,267
8,622
118,719
11,850
124,564 Spar. Un. & Col. February
11,5S3
23,78?!
glaxlr^ad
oilier lines.
Intjellijgijeujcje.
..
Total all lines. 2d
wk
Apr.
Apr.
4,798
59.809
387,037
72,799
22.148
27,975
4,293
100,755
11,700
WK.Apr 19
Chle&Gr.Tr WkApr. 12j
Det.Or.H.A; M Wk Apr 12
Gr.B.W.&St.P. February
Grand Trunk.
..
.
.
—
.
RAILROAD EARNINGS.
.
1
.
.
.
i
.
,
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
. .
.
.
.
.
1
.
.
.
.
.
I
.
.
.
.
.
VI
.
.
.
.
.
,
!
.
.
April
THE CHRONICLE.
1890]
26,
Lalat Earnings Reported.
Jan.
Latut Date
1 to
2(t
BOADS.
WetkorMo\
1890.
1889.
1890.
week 0/ April.
&
Cleveland Akron
J^iiin'a West.
|
.
MorKaii'Hl.&T,
N. Y.T. &MfX.
Tex. A N. Oil.
Atlantic Hya'in
2'i."i,
I'VbniiiiT
3s;i, 11
I'oluuaiy
Feliniury
1(1,
M2, 500
Ko.
February
KU.—
Bo. Pac.
l)tv.
(Cal.)|Fobruary
So. Dlv. (Cal.): February
Arizona
New
Btaten
February
Mex. Div. February
t>lv..
'
I,
Summit
Hap. T. March....
Marcb
Lykfii» VallcyMarcn
Braurli.
Tal.& CiKiHaVal. [.March.
Teuu. Midland.. M.arch.
Texas 4 Paoltlo 3d wk Apr.
Tol.A.A.AN. M, 3d wit Apr.
Tol. Col.&Cln.. 3d wk Apr.
T0I.& Ohio Cent. 3d wk Apr.
To;.& O.Cen.Ex. March
Tol. P. & West.. 2d wk Apr.
Tol.St, 1.. & K.C. 3d wk Apr.
. .
Tol. &So.Uaven.
Union Pacitic—
March
l.i9,815
78,479
51,565
92,128
70,533
5,931
15,086
121,576
17,.'^95
4,705
16,776:
7,926
,131
17, 714
27, ,080
16,1631
14,31li
1,715(
020
1.9ti7,044
46,322
6,113,366
4,
1
245,512
8-5.571
297,038
1 17,720
152.596
613 ,075
lOO ,,'>52
847, ,:)(il
718
237, 392
,882, 039
,781, 357
,663, 395
17,
271,36!<
961.109
332,839
163,702
145.315
184,6441
311.182
165,930
222.487
19,617
15,173
50,441
44.008
2,079,580 1,827,663
317,305
273.499
89,585
68,940
29J,438
364,551
24,027
22,603
257,925
249,248
443,706
230,710
5,500
4,594
.
.
.
.
.
I
February
,
Tot.U.P.Sy,s.iMarch
401, 009
222. 063
2.57,430
28,:862
63,' 53
20,062
52,310
663
,.360,343
1,583,
400,142
3,227 157
Cent.Br.A L.L.' February
Tot. cont'led February
.
Montana Uu.. February
.
Leav.Top. <& 8. February
Man.AI.A; Bur. February
Joint. own'd.ifil
Co!
February
.
.
.
Grand total. Februar.v
Vermont Valley March .....
Wabash
!3dwk Apr.
.
Western of Ala. 'March
February
W.V.Cen.&Pitts. March
Wost.N.Y. & Pa. 3d wk Apr.
WhecliuKA L. E. 3d wk Apr.
Wil. Col. & .\ g. February
Wisconsin Cent. 3d wk Apr.
Wrislitsv.itTen. February
West Jersey
.
.
.
,612,329
55,086
,214,044
55 515
59.586
2,037
2, 187
2, 883
2,577
30. 292
32,100
2,501,1673 ,246,744
15,!966
13,397
246.1,600
21 1,600
39, 379
44,742
92, ,823|
76,548
67, 640
51,698
72, 300
58.100
22, 924]
17.501
99, 333
88,830
94,;542!
71,063
7, 3.58
5,732
93, 606
2,471,:380
734,052
348,912
417.064
860, 996
522 .423
314, 695
132,928'
109, 326
3,079.534 2.821, 497
7,750.942 7,103, 284
204,522
113, 109
4,728,307 4,604, 124
115,901
121, 601
4,784
5,572
63.12H
4,791,435
40,137
3,87.i,114
151.852
186,192
197,404
992,744
3/2.786
207,140
1,326,082
14,983
4, 935
5, 327
65, 933
4.670, 058
37, 11<>
3,383, 239
152, 291
159, 507
166, 832
873, 95
260, ,38'
176,
1,027
11
Including new lines controlled, tormsrly reported separately.
Mexican currency.
u Main Line.
Latest Urusii Earuin^s by Weefcs.— The
latest
ings in the foregoing table are separately sumtned
1889.
15,6«5
242.076i
..
A St. L
.
Colorado Midland
Inereaie.
Deereaee.
*
Flint
A
6,705
8.62«
20,85H
22.148
111.817
34.157
Pere Marquette.
Florida Cent. A Peninsula.
Grand Rapiils A Indiana.
Cincinnati R. A Ft.W...
•
Kanawha A Ohio
C. Mem. A Birm.
Keokuk A Western
A Pembroke...
A Western
Louisville A Nashville...
Kingston
Lake Erie
Memphis A Charleston.
A
D.viv. (8 roads)
ii'l
5.815
1,721
6,520
For week ending April
874
1,004
1,00»
28,105
10,789
1,005
1,66»
36,043
1,855
2,632
35,550
6.816
8,800
,
,.....fc
.........
4, .537
5,292
•
••••«>fc
833
1,551,
26,771
718,718
712.260
e,44»
.>> *•»
12.
Earniuf;8 Monthly to Latest Dates.— The table follow
shows the net earnings reported this week. A full de-
.Vet
ing
tailed statement, including all
turns can be obtained
and the
May
roads from which monthly re-
given once a month in these columns,
statement of this kind will be foimd in the
latest
Chronicle
is
The next
of April 19.
will appear in the issue of
17.
Ornts Eamtngn.
follows
060
223
43.27fl
p. c.)'
1800
$
132,480
388,098
46.565
Roada.
weekly earn-
up as
*
471
4.794
5,433,033
Wisconsin Central
16,927
8,622
4.575
23.980
4,583
13.112
8.944
4.041
6,146,202
.
13,.561
1
42,.533
84,436
240.C50
27,015
28.862
22.420
28.080
12,946
17,714
93,490
1
Joseph A Gr. Island..
3t. L. Alt. AT. H. Brches.
San Antonio A Ar. Pass..
3cioto Val. A New Eng.
Toledo Peoria A Western.
Total '87 roads)
Net increase '1311
47,231
21,938
10.841
.
Rio Grande Western
17.82(
0S.'2.5f
314.843
27,518
66.920
11,147
06,702
8.986
81.001
214.100
22,100
20.062
17.883
22.788
12,113
16,163
66,710
.
Mexican National
•New London Northern..
Norfolk A Western
'Ogdensburg A LakoCb.
Ohio A Mississippi
148
539
i,655
4,328
1'>.20I
47.349
7,662
4.708
29.795
6.304
19,632
6,570
3.037
42.273
342,050
38.307
68.015
9,578
131.745
Kansas
1,780
15,078
3,278
1
20.23<
6,94S
9,16!
1
22.4-29
Other lines
Rich.
13.876
2'26.0))t
32.ai-l
Col ACln. Midland
Detroit Bay C. A Alpnna.
Detroit Lans. A North..
•Detroit Gr. IT. A Mil. ..
East Tennessee Va. A Oa.
3t.
& U. N. February
Or.Ry.&N.Co.'February
t
136,664
481,018
619.798
174,402
829,783
21.916
318.115
|
Or. S. L.
*
129, 102
449, S80
150, 241
74,,259
52,,562
68,,150
67,,036
6,,678
16.,340
131,,569
22.,075
6,,769
28,,421
2,
St.Jo.&G'dlsl. 2dwk Apr.
Den. Lead. ,kG. February
All oth. lines.
140
879,93!»
001, 9(18
2,077, 984 [,268,685
2,U79, 952 1,148,623
l''el)niary
all..
287,115
71,696
402,084
8,112
110.932
MO, ((.;, ;'
Pacitic Hysteui February
Totulof
5HM1
Fehniary
February
iseo.
1889.
Cleve. Cln. Chic.
Bo. Pacillc Co.—
Gal.Ilai-.&S.A.
587
Bilt.
A Potomac.
. .
.Mch
Jan. 1 to Mch. 31..
Det.
BayCityA Al.Mch.
1880
$
143 620
37S,093
45,881
126,143
463.164
930.790
3,628,247
50,664
93,670
356,505
513.828
1,024,469
3,984.842
162,516
325,036
1,132,263
471 .200
1,371,140
4,796,136
13,746,038
1.309,477
3,933,940
5,334,452
Xet Earning*
1880.
1800.
$
24,643
82,210
25,304
71,650
176,501
444,061
1,813,853
17,348
37,724
144,093
103,849
482.685
1,058,846
31,173
76,541
403,024
159,206
467,688
1,647,271
4,348,448
535.388
1 .004,947
2,270,447
f
44,269-
07,043
24,180
62,137
164,633
205,012
1,208,939
18,454
34,348
130,240
183,087
320,361
1,348,180
68,071
106,870
271,804
154,042
426,730
1,589,100
4,061,338
482,007
Jan. 1 to Mch. 31...
137,386
East Tenn. Va. A Ga.Feh.
524,933
Jan. 1 to Feb. 28... 1,127,127
week of April the gain reaches 15-66 per cent over the same
July 1 to Feb. 28... 4,355,197
week last year. Not a single one of the roads included in
Knox V. A Ohio.... Feb.
46,610
Jan. 1 to Feb. 28...
100,138
this statement shows a decre^e.
July 1 to Feb. 28...
402,643
Total system
Feb.
671,572
Jan. 1 to Feb. 28... 1,227,265
3d week nf April.
1890.
1889.
Intrtaee.
Deereaee.
July 1 to Feb. 28... 4,757.840
Memphis A Cha'st'n.Feb.
145,305
$
$
9
$
Jan. 1 to Feb. 28...
317,819
Atlantic & Pacific
63.781
50.282
13.499
July 1 to leh. 28... 1,236,273
Buffalo Roch. & Pitts....
36,204
35.863
341
Canadian Pacitic
275.000
255.000
Northern Central... Mch.
20.000
558,373
Chesapeake & Ohio
139,057
94.256
Jan. 1 to Mch. 31... 1,612,174
44.801
Chicago Mil. & St. Paul..
440.500
399.455
41.045
Pennsylvania
Mch.
5,470,715
Denver & Rio Grande
152,000
132.00 J
20.000
Jan. 1 to Mch. 31... 15,404,117
Duluth 8. 8. * Atlantic.
33.993
29.679
4,314
Phila. A Reading.... Mch. 1.508.747
Evans. & Indianap
5,807
4,449
1,358
Jan. 1 to Mch. 31... 4.389,109
1,510,353
Evans. <fe Terre Haute
19.142
15,406
3,736
Dec. 1 to Mch. 31... 6,044,051
2,074,688
"Grand Trunk ol Canada.
387.037
360,690
26,347
Lonisv. Evansv. & St. L.
22,265
61,500
Tenn.Coal A Iron Co.Mch
21,887
85, .500
378
105,790
160,500
Jan. 1 to Mch. 31...
100,207
258,000
5.583
Milwaukee L.8h.& West..
69.928
108,700
57,288
Feb. 1 to Mch. 31...
154,700
12,640
Milwaukee & Northern ..
32,100
22.523
9,577
043,220
Union Pacific
Mch. 3,227,157 2,612,329
998,752
New York Ont. & West.
36.419
30.577
5.842
Jan. 1 to Mch. 31... 7,750,942 7,103,284 1,864,609 2,094,711
Norfolk & Western
117,.509
83,-595
33,914
27,941
Wheel.
32,378
A
Lake
Erie.
Feb.
82.232
67,827
Northern Pacihc
418.179
369.982
48,197
56,218
Jan. 1 to Feb. 28...
63,358
163,091
140,871
Peoria Dec. & Evans
15,251
12.214
3,037
224,800
July
260.402
1
to
Feb.
28...
655,220
588,425
Pittsburg & Western. ..
45.649
42.621
3.028
Bt. Louis Ark. & Texas...
57.380
50.269
7.111
St. Louis A San Francisco.
1 11.300
99.150
12,150
Seattle L. 8. & Eastern ..
7.463
4.063
3.402
rs.
Texas* F.icitlo
131,569
121.576
9.993
Toledo Ann A.&No.Mich.
22.073
17.595
4.480
Toledo Col. & Cincinnati.
6.769
4,705
2,064
Norfolk &, Western Railroad.
Toledo & Ohio Cen tral
28,421
16.776
11,645
Toledo St. L. & Kan. Citv.
fFor the year ending December 31, 1889.J
27.O0O
14.311
12.769
Wabash (cousol. system).
246,600
211,600
35,000
An abstract of the figures in comparison with previous
Western N. Y. & Penn...
72.300
58.10C
14,20)
years is given below. The remarks of the President, Mr. F. J.
Wheeling* Lake Erie...
22.924
17.501
5.423
Wisconsin Central
94.542
Kimball, give many details concerning the property in its
71,063
23,479
several departments, and his report will be found at length
Total (31 roads)
3,244,036 2,804,683
439.353
on subsequent pages, including the balance sheet of Dec. 31,
Ket increase 15'86 p. c.)
439.35S
1889.
Copies of the report were received at too late an hour
* For week ending April 10.
for editorial comment in the Chronicle this week, but in the
For the second week of April 87 roads show 13-11 per cent next issue, May 3, the statement will receive due attention.
The comparative statistics for four years have been comincrease.
piled for the Chronicle as follows:
1H86.
18891887.
1888.
2d meek nf April.
1890.
1889.
Inn-easte.
DecreaS'.
Miles oper'd Dec. 31
633
554
694
638
On
the 31 roads
which have thus
far reported for the third
.
.
.
.
ANN!JAL REPORl
. .
1
(
'
—
Ofjeraiwna
Prev'ly report' J (32 roads)
At.Top.A-S.F. A- I'd roads
AOhioSouthw
Burlington C. Rap. &No.
Bait.
'Central
Vermont
Chicago & Atlantic
•Chicago & (;rand Trunk.
Chicago St. P. & K. City
Chicago* West Mich...
Cincinnati Jack.
Cin.N.O. &T.P.
A Mack
(5 roads).
3,128.080
619,100
38.732
45,452
55,083
51,094
72,799
79.242
28,182
11.007
136,97^
2,814.329
534.790
33,394
45,794
53,320
314,178'
427
84.400
3,338|
I
342
2,663
39.67,^
11.4161
37,830
48,147
28.262
10,040
127,023
14,069
31,095
558.951
26,703.379
3041
CIS.
2 208 688
771.248
35,3C5,815
2-833 cts.
2,763,376
841,08ff
36.302,466
3 01 7 cts.
3,433,79T
Freiglit(r<m8yuili-ge.403,0o8'.908 54l!9l7i945 669,'.52ei'746 819;i66,'394
Rate per ton perm,
HiiTnmgs
—
u-653
cts.
$
0-635
^ts.
486.231
$
685,257
freight
«all,expre8s,Ao....
2,5!-0,827
3,405,'220
174,998
Total gTOBSeam'gs
3,252,056
•"aasenger
80
0671
0,955l
Passengers can led.
400.260
Passenger mileage.. 19,580.000
Kate per pass. p. m.
3 1V2 CIS.
Frei--ht (tons) carr'd
1.555.867
U-5S2
eta.
$
0-349 ots^
9
940,305.
4, 417,31V
164,317
861.778
3,820,167
217,654
4,264,704
4,809,599
5,597,12&
239,505-
THE
588
188?.
581,687
297, 19S
548,4H4
686,840
23D,053
486,188
2^5.8:M
6i7.265
899,000
155,493
Total (incl'g taxes)
1,960.910
1,291,146
60'29
2,483,780
1,771,014
58-38
KeteanilDgB
P.o.otop.ex.toearu.
886.
$
312.587
174,716
51^1,714
168,139
624,248
313,557
722,012
1,499.943
323,562
3,001,927
1,897,672
61-00
3,483,352
2,113,773
62-00
1889.
2,113,773
2,257,9il
1,406439
Eemalning
Netearnines
OtU»r receipts
Uettnoome
DitbursemenU—
lut'st on bonds.
Ulv'ud on pref.
Ac.
1887.
1,771,014
109,197
1888.
1,897,673
147,4d8
1,325,449
1,880,511
2,045,110
1,184,547
1,237,134
9,239
7,819
Total dlsbursem'ts
Balance, surplus....
1,193,786
131,663
1,244,933
635.528
LonlsTllle
New Albany &
144,148
X.451,265
1,296,551
(Iis)330,000(3?o)6e0,000
41,609
2.152,874
105,047
l,626,5.il
418,559
ments and extensions of the property."
The comparative statistics for four years have been com
piled for the Chronicle as follows:
Earnings
as
$422,' 98
$510,507
Freight.
Mail, express,
1,313,.'S63
l,(i27,218
&o
242,599
153,526
157,898
$2,2P5.623
1,189,698
$2,292,782
$803,925
64-89
INCOME ACCOUNT.
$610,661
$305,925
$868,105
62-14
$858,105
$957,186
$161,538
$549,814
Keutals.taxes, &c ...
Interest 6n car tiust.
2-23,869
228,04
25,000
$581,775
282,458
$"73,9f5
276,345
Total charges....
$73.',407
df.$94,746
Net earnings
P.O. of op ex. to earns.
$2,495,823
1,4'24,677
1,544,113
$640,661
66 62
Net earnings
$951,710
61-87
*
50,000
$503,435
8ur.$2,469
$864,-^33
$850,310
sur $3,872 sr.$106,876
Includes $^,476 net earnings of Louisville Southern Eoad.
,
Total main track
511 96
owned
lines (Louisville Southern KE.)—
Kentucky & Ind. Belt, Market St to Louisville Soutbern
Louisville SontUeru Junction to Burgin, Ky
Louisville
to Uoion Depot, Indianapolis
Fro-u Dearborn Station, Chicago, to State Line
,
length of lines operated
states that the gross earnings show an increase
over those of last year (1888), of $303,040, or 8-85 per cent;
the operating expenses an increase of 1119,436, or 8-38 per
cent, and the net earnings an increase of $83,604, or 9-63 per
The steady progress which had been made during the
previous five years in reducing the percentage of operating
expenses and increasing the net earnings also marked the
operations of last year. In 1885 operating expenses were
79-37 per cent of gross earnings; in 1886, 6(5-63 per cent; in
1887, 64-89: in 1888, 63-14, and in 1889, 61-87 per cent.
cent.
LOUISVILLE SOUTHEBN EAILROAD.
road has been operated since March
1,
1889,
under a
lease for thirty years, which went into effect on that date.
The rental is $150,000 per annum and one-half of the net
earnings after the rental is paid. The belief entertained at
the time the lease was made, that the net. earnings for the
first year would not only pay the rental but leave a surplus
of profit, has been abundantly confirmed by the result of the
business of the road for the ten months of last year during
which
it
was operated by
this
company.
The ca n ng<
for tea months were
Operating e.xpenses (55-05 per cent of earnings) were...
$?20,971
176.685
Netearningi...'
$144,286
Less ten mouths' proportion of rental and amount paid for
Kentucky tic ludlaaa Bridge Company's traoka
133,333
Surplus
$10,962
" One-half of this surplus, or $5,476, is retained by
company under the provisions of the lease."
this
LEXINGTON EXTE.VSIOX EAILROAD.
On
OWNEn AND OPERATED.
MUeS,
456-lS
7-20 miles.
75-41 "
Coiihoma to Lamont
Wilczlufkl to Rversir'e Junction. 42-50 "
"
Hampton to Glen Allen
l-,-0
Clinton to Eihel
812 "
1-76
The report
Tills
ItrLEAGE
19-86
3-56
25-18
623-37
Total
Totiil
—
Louisville
& Texas Railway.
Main Line— Memphis to New Orleans
KiverDivision-Lulato Glcudale
8623
Total main track
Used under conti act—
From Mass Ave ludianapnlls,
F^om^ew Albany to
82-30
,
Orleans
thfi.
3-93
Junction
New
year ending December 31, 1889.^
The report of the President, Mr. R. T. Wilson, gives the following statement of the miles of road owned and operated:
fFor
Leased
"
$585,037
1,668,187
GroFs e<'irning9....$l,91!i,189
Operatiug expenses.. 1,278,528
Balance
OFEBATED.
MlUs.
2^940
Albany, Ind to MicliiRan City, Ind
Ind
lb2-00
Ind. State Line to Mass. Ave.. Indianapolis,
42»6
Bedford, Ind., to Switz City. Ind (B & B. Eli.)
Orleans. Ir>d.. t FrencU Lick Springs lud. (Orleans West Baden
17-70
& B'rencb Lick .Spring.^ Ejilway)
"
-
1889.
1888.
$5 14.688
1,573.552
174,542
1887.
1886.
Pasfengeis
follows at the close of 1889:
New
from—
Interest
A.ND
?400,000
In the treasury
Deduct—
Chicago Railwar.
fFor the year ending December 31, 1889.^
The whole mileage owned, leased and operated stood
MILEAGE OWKKD, LEASED
Main track—
$440,000
40,000
of
EABNINGS AND EXPENSES.
1886.
1,291,146
34,303
stk..
Miscellaneous
amount
"Since the close of the year the remaining bonds ($400,000)
have been sold at par and the proceeds applied in payment of
notes for money borrowed and used in the various improve-
INCOME ACCOtlKT
S
9
Eeceiptfi—
fVOL. L,
Its own coneolidaled mortgage bonds to the
Sold during the year
1889.
1887.
3
Operating expentesMalrt'oc of way, A c.
Malnt'ceof equlii'mt
Mollye powiT
TraoBpoifu expen's
General
CHROJNlOLE.
Slaughter to Biyou Sara
Bavcu Sara to Wood fine
LelandtoHumlLgton
Total main
1640
"
25-10
24-^7
"
"
—200-80
656-98
line and|branchcs.
The company constructed during the year a line of road
from Coahoma to Lament, Hampton to Riverside Junction
and Slaughter to Bayou Sara, a total of 103-01 miles; and in
October, 1889, acquired by purchase a line of road from Lula
to Glendale, Bayou Sara to Woodville and Clinton to Ethel, a
total of 40-43 miles, making a total of 142-43 miles of road
added to the former mileage of the company. The average
naileage operated for the year was 570-08 miles.
There were issued during the year $3,901,000 first mortgage
four per cent bonds and $517,000 second mortgage income five
per cent bonds, for the cost and construction of the above
143-43 miles of road, and in payment for 38 locomotives, 10
passenger, 3 combined passenger and 3 baggage cars, and 650
box, 200 fruit, 50 stock, 150 coal and 300 flat cars, a total of
1,350 freight cars, formerly owned by the Financial Improvement Company, and which the road had been using under a
provisional agreement with that company.
The earnings from local freight were $1,011,785, an increase
of |29;;,580, or 40-68 per cent over the preceding year, but
there was a decrease of 5-26 per cent in the average receipts
per ton per mile. The earnings from through freight were
§1,036,103, an increase of $179,098, or 31-14 per cent; the average receipts per ton per mile were slightly less than in the preceding year, bemg 0-613 in 1889 against 0-616 in 1888.
The earnings from local passengers were $711,169, an increase of $103,404, or 16-83 per cent, and those from through
passengers were $113,330, an increase of $7,569, or 7-32 per
cent over the preceding year. The average receipts per passenger per mde varied but slightly, being 3-61 cents per mile
from local passengers and 1-94 cents per mile from through
October 19, 1889, an agreement was made with the
Louisville Southern RR. Co. by which a railroad, which it
owned, extending from Lawreuceburg, via Versailles, to Lexineton, in Fayette County, and also to Georgetown, in Scott
County, and designated as the Lexington Extension, being
41-37 miles in length. was leased to us for thirty years from
January 1, l^90. The road was turned over to us on October
21, 1889. from which time until January 1, 1890, we operated
it as agent for the Louisville Southern RR. Co,
The rental,
commencing on January 1, 1890, is $90,000 a year and onehalf the net earnings after the rental is paid. This extension
gives us connections with the Cincinnati Southern, Kentucky
Central, Kentucky Union, and Chesapeake Ohio & Southwestern (Eastern Division) at Lexington, which are valuable
not only to the Louisville Southern Road proper, but to the
main line of our road north of the Ohio River."
EICHMOND MCHOLASVILLE IRVINE & BEATTYVILLE RR.
" The principal and interest on the bonds of this road have
been guaranteed, for which this company receives threefourths of the stock of said Richmond Nicholasville Irvine &
Beattyville RR. Co. The road is to be about ninety-five miles
in length and runs through one of the best sections of Kentucky, and is expected to be completed during the coming
passengers.
' The physical condition of the road-bed, track and buildings
have been considerably improved during the year, and we expect to bring the rolling stock up to the standard of efficiency
»
»
during the year 1890."
summer."
Total earnings
Operat'g expenses and taxes.
'
On
the first of the year there was in the treasury of the
L. N. A. & Chic, company, as shown by the last annual report,
"The company owns about 750,000 acres of land in the Yazoo
Delta, the proceeds of which are to be applied to the retirement of the income bonds as provided for in the mortgage.
About 142,000 acres have been sold. The company has been
placed at a disadvantage in New Orleans by not having a connection of its own with the important shipping interests located along the river front. This has been remedied by the
purchase of extensive water front on the river at Southport,
in the suburbs of the city, upon which a large and commodious warehouse and elevator has been erected, and connected
with the main line by a branch road 1-19 miles in length."
The earnings and income account compiled for the CheonICE for three years have been as follows
1888.
1889.
18S7.
515
657
513
Miles operated
:
EarnivQs front
Passengeis.'.
(height
-Mail, express,
Net earnings.
—
&c
$677,256
$713,517
$323,480
1,418,626
147, o29
l,5i 6,-208
2.037,887
166,094
$2,24:<,211
$2,426,317
1,846,576
$;^,c27,471
1,585,633
$657,578
$379,741
$969,509
14(),o9^
2,057,962
Apbil
26,
1;
90
THE CHRONICLE.
]
INCOME ACOODHT.
$637,578
18 = 8.
?a79.741
8,017
S.fll'i
*657,t78
$587,758
$973,153
1SS7.
NetearnlDBB
Otuer trauhportatlon receipt*
^Total
Peutals
$^„500
•
Interest on bonds
443,6i)0
Mlscelluueous
Total
Bnlanoc surpliu
1080.
^969,5^0
$7,137
$4,387
445,«i
500,9,>i(>
33,220
33,537
29,707
$184,320
$173,258
$486,674
$101,084
$535,134
•$438,019
*
(J"'?';
i)!105
000;
making
sources of Ircome were: Sale of Bolivar County Bonds,
fr.im oiicrailOMs of roads pendinu purchase, $72,004;
surplus for jear, itiU15,024.
Extraordinary cxiienscs on the railway, amountinic to $27,000, whl<A
'he net receipts of tho company did not sufflco to cover, are included
Itt
the above amount.
The company has $750,000 of general mortgage bond.* on hand available for its future wants, besides the $1,250,000 reserved for buUdlor
the road from Howard to Clarion Junction.
Upto the 1st of October last both tho railway company and the coal
company had met
GENERAL INVESTMENT NEWS.
Mason, W. J. Curtis, R. F. Munro.
First Vice-President, E. Urquhart;
President, Jules Aldige;
Second Vice-President, A.
B. Mason; Treasurer, J. H. Benedict; Secretary, R. F. Munro.
The Trust has closed its office at 45 Broadway, and the newAmerican Company has taken the same offices.
all their
the funded debt of the
struction.
Called
fixed liabilities with the net receipts, and
for conADRIAN ISELIN, Jit., President.
company represents only expenditures
Bonds—The following bonds
have beea called for
payment:
Lehioh
American BpII Telephone.— The issue of new Bell Telephone stock made now is about $1,200,000.
'
American Cotton Oil Compnuy.—The Cotton Oil Trust has
been reorganized as a corporation and tho following directors elected: Jules Aldige, Nicholas Sheldon, Samuel Thomas,
E. Urquhart, M. Frank, T. R. Chanev, W. N. CromweU, A. B.
£89
&
WiLKESBARRJE CoAL Co.—One hundred and
twenty-five sterling mortgage bonds, for £200 each, will be
paid, with maturing coupons, on and after May 1 proximo, on
which date all interest thereon will cease. Bonds numbered as
follows will be paid at 119 Liberty Street
5169, 530,5, 5626, 5630, 5635,7783, 7785; 7790, 7833, 78S9. 7«7a.
7881, 7901, 7923, 7929. 7936, 798.'>, 79M7, SOU, SOU, 8015, f041.
8061, 80-5, 8082, 8104, 8i;i!l, 8H3, «164, 816*, 8179, 8186, Sli'3,
82H8, f'2'.5, 8-.'64, 8-279, 82>)8, 8296. S3 .-5, 8326. H3 <3, 83.59, 8363.
8101, 8414, 8416, 84-:l, 8431, 8455, 8156, 81U4, 8.06, 851«, 8530.
The remaining bonds will be paid at the
Thompson, T. Bonar & Co., London.
office of Messrs.
L
Cape Fear & Tndkin Valley.—The completion of tlie line
Wilmington, N. C, was made the occasion las-t week for a
celebration of the event in that city. The company has nowa main line of 248 miles from Wilmington to Mt. Au-v and 97
Boston & Maine— Kastern.— The Boston papers state that miles of braaches. Within a year the connection
on the north
the terms of consolidation agreed upon by the Boston & Maine
with the Norfolk & Western will be made,
and the Eastern railroads are these: Boston & Maine to go in coal tonnage will be had from that direction.and an important
at 310, Eastern at 1533^ and Portsmouth Great Falls & ConChicago & Atlantic— A settlement of differences has
way at 153J^. This basis, applied to the present capital of the
companies, gives the following proportion, old and new: Bos- not been reached yet, but one is expected. President Beneton & Maine present capital is $7,000,000; the new will be dict states that all of the Chicago & Atlantic securities are
8,027,800.
The Eastern capital is $4,997,600; the new will be now united in the present negotiations, and tliat the only
f4,163,000. The Conway's old capital is $1,150,300; the new will settlement to be made is with the Erie. If the proposed basis
be 89o7,900. Total present combined capital is $13,]47,300'and of settlement is carried out, the Erie will get $2,000,000 first
the total new will be $13,147,700. Eastern preferred stock mortgage bonds and an additional amount of income bonds.
becomes Boston & Maine preferred, retaining 6 per cent diviCincinnati Jackson & Mackinaw. A committee of stock
dends. The Boston & Maine assumes all debts and liabilities
holders has been formed who oppose the reorganization plan
of the companies absorbed. Each share of Eastern or of Conpublished.
heretofore
The new committee consists of
way stock is entitled to 832-1,000 Boston & Maine, and each Messrs. Benjamin Perkins,
Lewis May, Thomas Rutter and
of the present Boston & Maine will be given one new John S. Tilney. Mr. Perkins said
that he considered the
u
share
for nothing. A meeting of shareholders for approval
Brown plan inequitable, inasmuch as, he thought, it put
wUl be held May 8.
too heavy an assessment upon the stockholders.
Buffalo Kocliester & Piltsburar.— The following circularColumbus & Hocking Coal & Iron. The stockholders^
has been issued by Mr. Adrian Iselin, Jr., the President:
will be asked at the forthcoming annual meeting to authorize
to
—
—
New York, April 21, 1890.
lotheStocktuildertoflhe Buffalo Sochesler <t FitlDb-rg Hailiauy Co :
Youi- directors consider it Inourabeut on them to inform you of the
changes which have taken place in the condition of your company.
Mr. Adrian Iselin, Senior, has sold four millions of the stock he owned
and therefore has no longer the control of the company. This sale was
made undcl- tho following conditions:
J St. Tho present Board to place in the
hands of a trustee $1,250,000
of the general mortgage bonds to be -ased only for the purpose of building u road from Howard Junction to Clarion Junction.
2d. The four million dollars of the stock of the Koohester & Pittsburg
Coal & Iron Company owned by yo:ir company to be placed in the
hands of the trustee of the mortgages as additional security for the
bonds secured by them.
3d. A contract to bo entered Into with the Rochester & Pittsburg
Coal & Iron Compcny to obligate itself for one hundred years to ship
all the products of its mines and
lauds over tho Bufifalo Rochester &
Pittsburg Railway.
4th. A contract to be entered Into by the Bell, Lewis & Yates Coal
Mining Coiin>any to ship over the Buffalo Rochester & Pittsburg Railway fertile next five years not less than 500,000 tons annually, paying
as freight a minimum rate of $1 00 per ton of 2,0C0 lbs. from Reynoldsville to Buffalo, and $ 15 from the same point to Rochester, the
Reyuoldsville <& Falls Creek Railroad to receive as its pro-rate the iiroportion of 16 miles to the whole distances. Should the other roads
connecting with the Reynoldsville & Palls Creek Railroad post a higher
rate than ijil 00 to Buffalo and *1 15 to Rochester, the Bell, Lewis &
Yates Coal Mining Cc:mpuuy to pay theie higher rates.
5th The output of the Rochester & Pittsburg Coal & Iron Company
to be 35 per cent and that of tuo Bell, I^wis & Yates Coal Mming Company to be 65 per cent, of the total amount of coal mined by both companies for .fale. But in no event is the output of the Rochester & Pittsburg Coal i Iron Compauy to be less than 750,000 tons a year. All
the coal to be sold conjointly by the BeU, Lewis & Yates Coal Mining
Company and the proceeds of tho proportion sold for the Rochester &
Pittsburg Coal & Iron Company to be paid to it, less a commission of 4
per cent for selling and .guaranteeing. This contract to run for Hve
f
I
the directors at their discretion to issue $500,000 .5 per cent
preferred stock. This action is desired not for any immediate
necessities, but to provide for additional capitalization in case
of furtlier desired development of the property, and to avoid
the necessity of calling a special meeting for the purpose.
Columbus Springfield & Cincinnati.— Xotice has been
given that the lease of this road to the Cincinnati Sandusky
& Cleveland wiU terminate June 1. Tliis will be a saving to
the Sandusky Road of $40,000 jier annum, and together with.
tbe refunding of the Sandusky 73 into 5s, which will be completed June 1, is expected to increase its net income,
—
Denver & Rio Grande. The 19th inst. was the day appointed for the foreign stockholders of the Denver & Rio Grande
Railway Company to pass on the contemplated issue of
$4,500,000 of improvement bonds for the purposes of standardgauging and acquiring the necessary equipment to complete
this line.
Over 79 per cent of the two classes of stock nave
assented to the issue, and only one holder, of 40 shares, has
disapproved of it. A large force has been concentrated on
this work, which is to be pushed forward with all possible
speed, and the through standard gauge line should be in good
running order within th^ next three or four months. Tracklaying on the Junction Railroad commenced on the 11th inst.
At the annual meeting on May 27, action will be asked upon
an extension from Villa Grove to Alamosa, 56 miles, and the
construction of other small branches to mines, some 31 niijes,
and the issue from time to time of $1,552,500 of the first consol, fours, being at the rate of $-30,000 a mile, to pay for this
construction.
Houston & Texas Central.— The complaint of M. Gernsheim having been amended as suggested fn the opinion of the
General Term, Justice Barrett, who wrote the opinion,
remain in
granted the new injunction asked for.
This injuncion is in
form the same as the one granted by Justice Patterson
restraining the defendants from issuing any of the $10,000,000
stock under the proposed scheme of reorganization of the
The (juestion
Houston & Texas Central Railway Company.
of making permanent the injunction was argued thiS weelc
before Judge O'Brien in Special Term of the Supreme Court,
and counsel were given a week in which to submit briefs. No
new testimony of importance was eUcited.
the board.
Mr A G. Yat«8 will be elected President.
Mr. Adrian IscUn, Senior, has taken In payment of ifl 85,000 due to
him a mite of the comi>any payable in five years, with interest at 5 per
cent, payable annually only if .caim d. This amount represents the
losses and expenses Incurred by the railway and coal companies
thi-oujih the late strike at our mines.
Michigan were filed at Coincorporation of the Kanawha
lumbus, Ohio, on the 34th. The capital stock is $10,000,000.
A lease will be made to the Chesapealce Ohio Railway Company, which will operate the property, taking possession on
the 1st of May, as per the terms published in the CHRONICLE,
of March 29.
years.
The above conditions having been complied with, and contracts exeMr Adrian Iselin, Senior, has transferred the stock he sold and
cuted,
has retired from the Board.
Mr. Adrian Iselin, Junlor,wUl resign as President, but
will
Kanawlia
&
MIcliisan— Kanawha
&
& Ohio.—The articles
&
of
THE CHRONICLE.
590
—
[Vou
L.
Lake Erie & Western. A special meeting has been called
for June 25 to act on the matter of acquii-ing the Fort Wayne
Oinn. & Louisville. The 133 miles of road can be secured for
%epovt& and documents.
The proposition is to issue the
11,800,000 or $1,900,000.
W. 5 per cent bonds, which are limited to 810,0 a
mile, for $1,333,000, and the application of net earnings for
the payment of the remainder or the purchase. The capital
•«tock 18 not to be increased, but on the contrary, by this arrangement and the increase in mileage, the amount per mile
would be reduced from $20,000 to $16,000 per mile each of
common and preferred. The F. W. C. L. crosses the L. E.
&, W. at Muncie, Indiana, in the natural
and coal belt,
and its acquisition by the latter company is in line with the
policy of the management to develop the traffic in its im^xaediate neighborhood.
NORFOLK A WESTERN RAILROAD.
some
L. E.
&
&
MINTH ANNUAL REPORT-FOE THE YEAR ENDING
DECEMBER
318r, 1889.
To the Shareholders of tlie Norfolk & Western Railroad Co.:
The Board of Directors herewith submits its Report of the
operations of the Company for the year ending December 31st,
^s
1889:
PROPERTY.
Storms of unprecedented severity occurred at frequent intervals during the year, causing landslides, washouts and the
LonlsTille New Albany & Chicago.— In the case of the
Xi. N. A. & C. RR. Co. against the Ohio Valley Improvement
"Co., to have the guarantee on the bonds of the Richmond
Nicolasville Irvine & BeattyviUe RR. Co. declared illegal and
to restrain the sale of the guaranteed bonds. Judge Jackson at
Nashville expressed himself in favor of the plaintiff, but gave
the defendants permission to file brief within two weeks.
destruction of several bridges.
The excellent condition
of
your jproperty has, however, been maintained, and, by the
adoption of higher standards, has in many particulars been
materially improved.
The work of equipping your line with the most improved
form of switches, switch stands and lamps, watchmen's
houses, tool houses, and other improvements of a similar character, has been continued.
The cost of these minor improvements was charged to operating expenses. There was also
expended for larger permanent improvements, short extensions and additions, including 8'21 miles of branches, 10'58
Missouri Kansas & Texas.— A press dispatch from Topeka,
Xan,, April 22, said " In the United States District Court today Judge Foster, on application of the Union and Mercantile
trust companies of New York, ordered the sale of the Missouri
'Ktmsas & Texas Railroad under mortgages held by the trust
companies. The foreclosure of the mortgage had been amica"bly agreed upon, and the proceedings consisted merely of the
formal entry of the order. The Court authorized the receivers to broaden the gauge of the road betwen Greenville
and Jefferson, Tex., subject to the Circuit Court of the United
States, District of Texas. The receivers were also authorized
to complete the construction of the road between Waxahachie
•and Hillsboro, Tex., a distance of thirty miles."
:
miles of sidings, first-class passenger stations at Lynchburg and
Pulaski, 1 second-class station, a brick addition to the freight
station at Roanoke, an additional round-house at Roanoke, 1
coaling station and 5 water stations, the sum of $523,046 19,
which was charged to property accounts.
Work upon the Clinch Valley Extension has been prosecuted
under great disadvantages. Owing to the repeated storms,
many completed excavations were filled up and embankments
washed away, greatly retarding the work and adding to its
Milwankee & Northern. A dispatch from Milwaukee cost.
At the close of the year the extension was completed to
says: "The contract to build the railroad from Iron Mountain
Honaker, a distance of about 54 miles. The remaining portion
to Escanaba, fifty-four miles, has been let to the Mcintosh
of the extension is well advanced, and it is expected that the line
Brothers, of Milwaukee. Two thousand men will be put to
will be completed during the latter part of 1890, about which
work within thirty days." This extension from the main line time
the extension of the Louisville & Nashville Railroad
of the M. & N. to Lake Michigan is projected in the interest
Company will probably also be completed. Norton (formerly
of that road, and is expected to be completed this season.
Princess Flats) has been selected as the point of connection
New York Stock Exchange. New Securities Listed. The between the two railroad systems, the location being admiraGoverning Committee of the Stock Exchange have added to bly adapted for the yards, engine-houses and other terminal
—
—
—
the
lists for
dealings the following:
Laclede Gas Light Co. of
St.
mortgage Ave per cant gold bonds, making
total
amount
first
listed
^9,715,000.
Mexican NATtONAL KR —$400,000 additional first mortgage six per
oent fortj-year gold bonds, making total amount listed $12,500,000.
Philadelphia & Reading RR.— $3,491,800 alditionnl voting trustees' certificates, or so mucb tliereof as shall be Issued from time to time,
;
in excliam:e for tlie ttiird preference income mortgage bonds stamped
""oonvertiblHs;" the la'ter to be reduced on the lint corre<i>oudlngly.
The Pennsylvania Co.— $ ,500.00 additiimal guarantee!! first mortg.<Ke 41s ler cent coupon bond^, making total amount listed $17,>
i
500,000.
Union Pacific Denver & Gulf Railway.— $3;,151.700 of the
«apital stock The capilal stftck of the company is limited by articles
of consolidation to $;;6.0 0,000. There are now listed on the 8 oek
Exchange $18.orO.0OO of certiticates, repr>-Renting an equal amount of
Denver Texas & Fort Worth RR Go's stock deposited wiih the MercanJtlie Trust Co. as trustee.
This will be exchanged for stock of the new
consolidated company a** fast as it is releaped by the Trust Company.
TThe Union Pacific RR. will own about one-half the capital stock of the
Pacific Mail— Northern Paciflc—It
proposition is for the Northern Pacific to
Mail $75,000 a month if it makes Tacoma a terminal point for
a steamship line to Japan and China. A gentleman identified
with Pacific Mail says the difficulty is that Messrs. Jay Gould
and C. P. Huntington mayoppose the scheme. They are
both out of town at present and their views are not known.
—
Pennsylvania. The gross and net earnings for March and
the three months of the year, in 1889 and 1890, were as below
stated.
On the lines west of Pittsburg and Erie the net result,
after payment of all charges, is shown in the second table:
^—'Jrost Earnines.
18S9.
January
$4,5-28,7'16
February
4.421,156
4,796,136
March
$13,746,038
LINES
.
Jfe.t
.
Earning*.
.
1890.
$5,142,311
4,851,091
5,470.715
$1,080,796
1,391,442
1,589,100
$1,306,046
1.395,131
1,647,271
$15,464,117
$4,061,338
$4,348,448
1889.
1990.
WEST OF PITTSBniJO AND EKIE.
deficit after payment of charges.
Xet surplus or
1889.
January
February
March
.Smouths
'
1890.
31,742
Def.
36,779
Oijr. in 1890.
Gain.$119,6i>7
Gain. 121,504
Loss.
5,037
Def.$184,844
Sur.
$51,290
Gain. $236,134
Sur. $54,301
Def. 207,403
Def.
Sur. $173,968
Def.
85,899
408-3 miles.
"
5-3
Norfolk to Lambert's Point
Petersburg to City Point
Glade Spring to Salt ville
Short branches from Main Line
.
.
109-5
5"63
84-25
19-09
30-40
11-64
53-9
.-.
638-01
Total
Sidings
"
"
"
"
"
"
"
"
"
178-46 miles.
The company operated during the year an average
of 591
miles.
ROLXING STOCK.
The additions made during the year 1889
of the company consisted of
to the rolling stock
27 Locomotives.
5 Passenger cars.
LINES EAST OF PITTSBUKO AND BRIE.
Western North Carolina.— President Andrews, of the
Western North Carolina Railroad Company, gives notice to
the holders of first mortgage 7 per cent bonds maturing May
companv tias sold its first consolidated mortfage bonds reserved by the trustees of that mortgage to retire
850,000 of the above bonds. It has reserved from the pur1,
was 638-01 miles, as follows:
Main Line, Norfolk to Bristol
Radford to Elkhorn
Branches to coal mines
Pulaski to Ivanhoe
is
said that the Branches to ore mines
euarantee Pacific Bluefield to Honaker.
new company.
3 months
which will be required.
During the latter part of the year work was commenced
upon 16 miles of the North Carolina Extension, extending
south from Ivanhoe, and penetrating a mineral territory from
which a large traffic in iron ores will be secured. Like your
other mineral branches, this extension is in a mountainous
country, and will be costly to construct but when completed
it will undoubtedly be one of your most valuable feeders.
At the close of the year 1889 the length of completed line
facilities
Louis.— 8259,000 additional
1890, that the
chasers the right for the holders of the 7s to receive in exchange for their bonds first mortgage 7 per cents to the extent
of $500,000 in the order in which the maturing bonds are presented. No exchange can be made after April 30,
936 Freight, caboose and other cars.
At the close of the year the company had in service
195 Locomotives.
87 Passenger cars.
7,880 Freight, caboose
and other
cars.
of passenger engines during 1889 was
146-52 miles per day per engine, as compared with 124-93 miles
in 1888; and of freight engines 103-74 miles per day per engine,
as compared with 89-21 miles in 1888.
The average mileage of freight cars of all kinds during
the year was 41-88 miles per day per car, as compared with
43-88 miles during the preceding year.
The average mileage of freight equipment for a series of
years is shown in the following statement
The average mileage
AVERAGE NUMBER OF MILES MADE PER DAY PER CAR.
Tear.
1884
18-5
1886
1887
1888
1889
Box Oars.
Goal
and Coke
Cars.
Stock
\
and
Flat
Avc-affe,
Car.'.
all kinds.
12-14
12-44
44 83
32 45
42-42
65-33
ig-V'i
53-.i3
54 24
51-15
.
43-91
46-95
44-26
14 04
13-62
41-31
43-88
41-88
Aphil
THE CHRONICLR
26, 1890. J
The carrying capacity
of your freight equipment has been
All your freight cars are now built to
The average number of tons of paying
freigh't transported in each car has increased from 9'75 ton.s
17-89
in 1883 to
tons in 1889, as shown in the following state-
steadily increased.
carry 30 tons each.
591
As compared with the previous year, the earnings from
through passenger traffic increased 39 per cent, and from local
passenger
per cent.
traffic 6
Your management has long been endeavoring
to provide
equipment for excursion business during
the summer mmths, but although new coaolies have been
1883. 1884. 1885. 1886. X887. 1883. 1880. added each .year, the increase in the regular passenger traffic
Averaee number of tons of
has absorbed all additional eq lipment, leaving none for excurfreiKiit earned In eaob
A number of both tirjt and second class coaches
loaded oar
9-75 10'2» 13-31 11-55 15-58 16-47 1729 sion traffic.
will be needed during 1890.
Notwithstanding the increased capacity of freight cars, and
FREIGHT TRAFFIC.
the consequent increased dead weight of the cars themselves,
the increased engine capacity and improved condition of the
ment
sufficient pas-senger
:
Ibns of
track has materially increased the average number of the cars
hauled by euch engine from year to year, as shown in the following statement:
Freltiht Oarrltd.
Local.
T/m>'.
Earntngt.
Total.
11 152 17-5 186 191 19-6 2002
In other words, the average number of tons of paying
freight transported in each train has increased from 107 tons
engfue
in 1883 to 346 tons in 1889.
The number of cars per train upon the several divisions of
the line varies with curvatures and gradients, and each train
includes many of the old cars of small capacity which are
still in active service.
The statement above is the average of
all cars, and upon the entire line.
REVENUE.
aroBseamliiKS
Operating expenses, 1 .eluding taxes
(Proportion of expenses to earnings, 62 per cent)
$5,597,124 58
3,483,352 41
.$2,113,772 17
144,147 64
&o
Total income
Interest charges
*
1881...
1882...
188 1
1884...
1885...
1886...
1887...
1888...
1889 ..
,
.
lotal.
I
538.102
091.174 87
192.587
609.727 1.0«2.H-)« 98
257,319
797.253 1.19H.rt.l<)42
231.641
Hli.r>U l,2:15.«7 6l
242,081 1.199.790 1.1.-13.12101
t
23 11,019 54 1.748.201 44
I
83(>.2«2 178.810
716,iifl7
417.140
539.908
860,871
857,709
74J,«91 3") U.S'll H) 1.8> 1.215 17
9S),110 5) 9,711 y) 2.191.122 78
1,2811,601 2HI,2-)')
17
2.'20H.>)8S
1
.5.'>.j,8
1,82J,51B 3.9.172
2,8<)3.219 400,157 •2.781.378 2.U7>I,S'M 23
2.892.045 343,75a 1.135.797 8..190.720 13
The earnings from
0i 10,164
i.06^,251
20
6Kl.li;i5 97 51,21) 16 2.19I..3K
H12,3-)ll;)« 111.8 '6 19 2,84 ).»93
14
7«;),0l9
1.7;«.(57 2<|
2..'H1.5U 27
K7.I,'1H8SI
.54
37,IHjm
la
3.4IJ,7)2 97
810.')0:)4-)| 76,881 53 3.89 '.018 28
1
,0«),59187l81.M>jai 4,41)9,237 44
passenger and freight
originating at, or destined to, points iipon your line,
were 78 per cent of the aggregate earnings.
The average rate per ton per mile during the year was 0-549
cents, a decrease, as compared with the previous year, of 0-033
cents. The average expenses per ton per mile were 0-344 cents,.
a decrease of 0-033 cents as compared with the previous year.
local traffic, that
i^
traffic
$2,257,919 81
The mineral
increased during the year 476,342 tons
over the previous year. The remarkable groivth and diversified character of this class of local traffic is shown in the
following statement
traffic
—
:
On funded debt
On car trust obllgaUons
$1,361,542 35
86.722 80
Totalinterest charges
1,451,205 15
Iron Ore
Pig Iron
Coal
1882.
1883.
'/'ona.
Tons.
$803,654 68
:
Sinsing fund equipment mortgage
Dividends n preferred shares
per cent, April 25
!>« per cent, October 24
Btone
a$lt
Plaster
other Minerals.
330,003 00
330,000 00
Total
Tons.
I
1886.
Tons.
1887.
J\nu.
1888.
1889.
TVfU.
2'i>n«.
128,606
40,042
992,260
161,171
30,948
18,266
195.,^^0!
1
6.155,
7.424'
1.153
762
249.374
9.'-.,389'
161,215
343.312 1,643,900
202.H08 310,504
49.573;
87,965
13.288'
14,453
5.7611
5.660
13.019!
12,321
2,4601
2.972
563
i
40,082
162
48.321
48.311 198.947 347,376 :685.271 981.366 1.417.549 1.960,415 12,486,757
.
701,607 92
Surplus of income for year 1839
$105,048 74
As compared with the previous year the
grofs earnings increased
$697,525 69, or 14 per cent.
The operating expenses, including taxes,
increased
481,425 28, or 16 percent.
And the net eamincs increased
216,100 41, or 11 percent.
1885.
!
60,825 66.851
23.209 34,917
54.552 163,229 499,l:!8 739,018
23,762 58,380 48,571 69,021
e.i'si 20.217 27,718 15,623 24.461
9.2701 11,482 13,2-18 13.495 16.820
3.405)
4.214:
4,405.
4,676
4,272i
2.872
96
19
13
681
190
1.166'
1,008
1.648
126
388
1,188
256
7.292- 13,095' 17.818 15,919
4.939
Manganese
:
i
1881.
Tons.
4,735
Zinc Ore
Zinc Spelter
$11,607 92
!
1
1.399 61.915; 49..302
13,3721 24.611 28,.'>91
Coke
Net income for the year 1889
From whicb there was paid
m
(
I
MIJfERAL TRAFFIC.
Net earnings
Otherlncome—lntereit, dividends,
yiiicet.
I
I
1983. 1884. 1885. 1886. 1887. 1883. 1889.
Averaee number of loaded
freight cars drawn l>y each
Through.
Local.
The Coal and Coke transported over your line during 1889
(including '269,845 tons used by your Company) was 3,134,349
tons, an increase of 353,455 tons as compared with the previous year.
The growth of this traffic is shown by the following statement:
The average gross earnings per mile were $9,470 60 and the
average net earnings per mile $3,.576 60.
A comparison with previous years, during which the average mileage operated increased from 438 miles to 591 miles, is
shown in the following statement.
Year.
Mila Operaud.
1881
18S2
Qroag Earningt
428
428
472
503
503
507
527
542
591
1883....
1884
1885
1886
1887
1888
1889
per UUe.
$5.297
5.678
5,942
5,389
5,509
6,414
8,073
9.039
9,470
40
96
39
97
57
83
42
34
2,2<i0 28
2,546 64
3,360 55
3,501 24
19
31
Bl
85
60
Orois
1881
1882
1883
1884
1885
1886
1887
1888
1889
.
$2,267,288
2,429,740
2,812,776
2,711,153
2,771,120
3,252,058
4,254,794
4,899,598
5,597,124
b2
12
59
27
87
59
03
89
58
$1,163,232
1.322,576
1,509,573
1,516.858
1.849.2S1
1.960,909
2,483,730
3,001,927
3,483,352
$1,104,055 87
1,107,163 19
1,303, -203 Oi
1,135,448
41
The growth of the traffic and revenue is
and freight in the following tables
93
19
23
82
78
17
The shipments
of iron ores were 349,374 tons, an increase of
54,034 tons, or 28 per cent, as compared with 1888. The shipments of pig iron were 161,315 tons, an increase of 65.836 tons,
or 69 per cent, as compared with 1838.
Very important ore developments have been made during^
the past year in the New River-Cripple Creek Mineral Regiotk
and in other sections tributary to your line.
number of
new iron furnaces of large capacity, and other manufacturing
establishments, are under construction, and the shipments of
minerals and manufactured iron will be very largely increased
during the coming year.
A
Earninoe.
:
Amount realized from the sale of $5,030,000 bonds
I
Total.
Local.
Thraunh. Exi>rau.*c
U»...
188S...
1887...
1888...
1888...
sos.oes
»t8,618
!80,6I1
806, 189
8e8,8Ue
la,806| 215,C04
14,884 21)8,347
18.416 307,«27
538.597
ltl.253
4ia.-l52
22,101
18.187
3S8,087
400,'«9
2:j,351
65'<,1)51
771,'.!48
744,289; "I.KTW
HOH.BBMI »j,ln
8ti;ti86l
329.1.37 86
319.IS7 40
403,477 25
44,H,478 *1
387,88? 82
422.«11 42}
t
67.681 29
74,864 1'3
82.827 06,
72,712 72
70.757 77|
Extensions to the
*
I2e.268 10
131.193 52
135,.'M9
518,087
575,494
621.353
645,«02
579.788
611.363
00
121.710 51
121.32:1 84
63.41U 93 125.132 11
5U<1,«69 40, 94,587 14 126,8:14 43
7IV4.H02 93 106,1)75 22 140.772 52
N)2,.'t»7 61 la'.917 08' 157,aB2 42
812,(K»1
1
1
Il02„'i50
$4,565,932 il
E.xpended—
Total.
I
1881...
1882...
18S3...
1864...
1,308.594
1,770,791
2,124,249
with the right to issue an additional $3,000,000 for the purpose
of double tracking.
The proceeds from the sale of the $5,000,000 of bonds had
been expended for the purposes contemplated in the mortgage
prior to the year 1889, as follows
:
PASSENGER TRAFFIC.
Ttu-o:
105,805-
272,178
651,987
929 635
FINANCIAL.
The Improvement and Extension Mortgage created in ISSJ
shown separately was designed to secure an issue of $5,000,000 6 per cent bonds,
13
for passengers
Passengers Carried.
105.805
272,178
278,741
360,286
566,719
781,944
980,595
ORES AND IRON.
Xel
Earnings,
1,194,294
1,121,829
1,291,147
1,771,013
1,897,671
2,113,772
Tom.
The above statistics cover only the steam and coking coala
from the Pocahontas region. Shipments of gas coals will commence upon the completion of the Clinch Valley Extension,
and will hereafter appear in annual reports.
of years are
75
63
56
34
68
38
21
Total €oal
Coke.
Tone.
and
(Local)
None.
None,
373,246
569.319
741,875
988,812
3,576.60
Operating
Bxpensea.
Earninga,
1833.
1884..
1883.,
1886..
1887.,
1838..
1839.
$2,579
2,586
2,736
2,374
The results of operating your lines for a series
shown by the following comparative statement:
Fear.
Net Earning$
per Mile.
Line Tradt.
Tidewa'er.
Tons.
Tear.
18
95
81
07
73
4S
06
67
,097,81)7 14
New
River Division, In-
cliidlngCrlpp'e Creek and Flat
tensions and branches to coal
mines
Branches and improvements to
Top Exand ore
mi in
Principal oroar trost obllgationa
line..
$2,149,928 72
1,572,779 63
843,214 06
4,565,923
The provision made
in the
4X
Improvement and Extension.
Mortgage for double-tracking has never been
utilized.
THE CHRONK^LE.
692
In providing for the further financial requirements of the
it was considered wise to adopt a comprehensive
plan covering not only additional transportation and terminal
facilities and such short branch lines as might from time to
time be required to develop mineral territory, but also providing for the construction of the Ohio and North Carolina
Extensions and the ultimate unification, at a lower rate of
interest, of the Company's funded debt, by the redemption of
underlying mortgages, several of which mature or may be
redeemed during the next ten years. In furtherance of this
plan it was decided to consolidate and merge into your Company the Norfolk Terminal Company and the New Eiver
Plateau Railway Company, and to lease the West Virginia
Ironton Railroad, which will also, during the year 1890,
be consolidated with your Company. As this plan included
Company,
&
provision for double-tracking the lines of the Company, the
further issue of bonds for that purpose under the Improvement and Extension Mortgage became unnecessary, and the
total issue of bonds under that mortgage has therefore been
restricted to $5,000,000—the amount now outstanding.
The Ohio and North Carolina Extensions have been referred
to in several previous reports, and the advantages to be derived
from their construction has been fully set forth.
The Ohio Extension, as definitely located, follows the waters
of the Big Sandy River from the present northwestern termi-
nus of your line at Elkhom, in McDowell County, West
Virginia, for about 95 miles, thence about 15 miles over a low
summit to the headwaters of the Twelve Pole Creek, which
it follows for about 71 miles, thence crossing the Ohio River
by a steel bridge, and thence about 14 miles to Ironton a total
distance of about 195 miles.
The North Carolina Extension, as located, follows the New
River and its tributaries from Ivatihoe the present southwestern terminus of the Cripple Creek Extension, to the Blue
Ridge Mountains, and thence to the North Carolina State line,
a distance of about 70 mUes, and is especially designed to
develop the various ores of iron, zinc and copper which are
found in that locality, and to form a connection with the Cape
Fear
Yadkin Valley Railroad.
It is believed the local traflic of the Ohio North and Carolina
Extensions will prove a source of revenue more than sufficient
to meet ttie interest on their cost, and that these extensions
w ill greatly expedite the further development of the mineral
r(S0 jrces tributaay to your system, thus largely increasing the
gro3 3 earnings. These extensions will also greatly increase
the importance of Norfolk as a shipping port, brmglng it into
closer and more direct relations with the States of Ohio,
Indiana, Illinois and the Northwest.
Upon the completion of tiiese extensions, your lines will
comprise not less than 960 miles of railroad. With its large
and already highly developed local resources, with its eastern
terminus at one of the best harbors on the Atlantic Coast, and
with its own line extending northwest to the Ohio River, west
Nashville Railroad systo a connection with the Louisville
tem, soutliwest to a connection with the East Tennessee lines,
and southeast to a connection with the North Carolina lines,
your company will occupy a position both as to through and
local traffic which will justly entitle it to be considered as one
of the most important of the railroad systems of the country.
For these purposes, and with these views, there was created
Western
under date of October 29th, 1889, the Norfolk
Railroad Company's 100- Year Mortgage, which is a first lien
upon the terminal facilities at Norfolk and Lambert's Point,
formerly the property of the Norfolk Terminal Company,
upon the Ohio Extension, including the steel bridge over the
Ohio River, and upon the North Carolina Extension and other
branches as constructed, and a consolidated mortgage upon
When aU the underlying liens are re
its entire property.
funded, it will be a first mortgage upon the entire system.
The 100-Year Mortgage provides for an issue of 110,000,000
5 per cent bonds, to be applied:
$1,000,000 for redeemlns Norfolk T.rminal Cnrapnny'a first mortgase
&
&
Vou
None of this further issue of $10,000,000 of bonds will be
countersigned by the Trustee unless the "net income" of the
preceding fiscal year was at least equal to 40 per cent of the
total interest charges; and in that event the annual interest
charges on the additional bonds countersigned shall not exceed 25 per cent of the amount of such net income. The mortgage defines what shall constitute "net income." Should the
amount of bonds provided specified for any of the specified
purposes be in excess of the expenditures therefor, then suon
excess may be applied as required by the railroad company to
any other of the purposes described in the mortgage.
Authority is also given for the issue of bonds bearing interest at not exceeding 5 per cent for retiring at maturity or
purchasing before maturity the existing mortgage bonds of
the Company (excepting the bonds issued under the equipment
mortgage), provided, however, that such retirement or purchase shall be made only on such terms as will not increase
the interest charges. All bonds so retired or purchased are to
be deposited with the Trustee as additional security.
By agreement with the Trustee of the Improvement and Extension Mortgage, the amount of bonds to be issued under
that mortgage is limited to $5,000,000 now outstanding.
Additional financial provision is made bv the issue of 30,000
shares of preferred stock which have been deposited with,
and will be held by, the Trustee of the mortgage as a reserve,
subject to withdrawal and sale by the railroad company, when
required, the proceeds to be expended for construction, improvements and equipment any equipment thus acquired
shall become exclusively subject to the lien of the mortgage,
the railroad company obligating itself, however, that these
shares shall be sold not later than three years after the date
of the completion of the Ohio Extension. In the event of the
Ohio Extension not being completed within two years after
the date of the issue and sale by the railroad company of
$4,000,000, part of the issue of $6,000,000 of bonds provided for
that purpose, then the Trustee shall have the right to sell such
portions of the 30,000 shares of preferred stock as may be
necessary to be used in the completion of the extension.
These shares are part of the 50,000 shares authorized at your
annual meeting in May, 1889, and the issue has been made by
your Management in pursuance of its policy that the cost of
additional property and construction shall not be met solely by
increasing the company's bonded debt, but by the issue of new
shares and mortgage bonds in reasonable proportions.
;
$2,000,000 of the new 100- Year Mortgage Bonds were sold
during the year and the proceeds apphed in accordance with
the provisions of the mortgage, and such additional bonds
will De sold during 1890 as will be necessary for the Company's requirements and to enable it to commence the construction of. the Ohio Extension.
$1,138,000 Equipment Mortgage Bonds were sold during the
year, and the proceeds used for acquiring equipment and retiring the principal of Car Trust obligations.
$189,000 General Mortgage Bonds have also been sold,
$215,471 52 of the proceeds being applicable to retiring divisional liens, leaving a balance of $3,930 98 with the Trustee of
the mortgage, to be used for similar jjurposes.
INVESTMENTS IN OTHER COMPANIES.
Jioa7ioke ^achijie Worka.
&
bonds, and for tbe acqui$>iilon of lugs and barges for tbe
Iratiport-tiiou of coal.
reiinburae
to
the Company for expenditures previously
$075,000
int^uried for improvemt-nts, exiensiouf-, add t on? and
constructiou In excess nf tlia p oceeds of bonus ano
stock is^u^d tht-refor, and for lurthcr expenditures for
similar purposvs.
86.000,000 for the cousinn tlou of the Ohio Est nsion.
for
the North Carolina Extension. And
$1,500,(11
$625,000 lor retiring tbe conveitiblo debenture loan of tbe Company.
L.
The operations of the Roanoke Machine Works for 1889 resulted in net income, after the payment of interest on funded
debt, of $17,462 45, which, added to the net income carried forward from the preceding year, amounted to $52,280 23, from
which dividends were paid upon its capital stock amounting to
$25,044, leaving a balance of surplus income of $27,236 28.
The receipts of your Company from this source are included
in your Revenue Account in " Other Income."
Yiriinia Company.
The balance sheet of the Virginia Company accompanying
The
this report shows in detail the real estate which it owns.
operations of the Company during 1889 resulted in net earnings of $49,597 55, which, added to the net earnings carried
forward from the preceding year, amounted to $87,753 87,
from which dividends were paid amounting to $35,000, leaving
a balance of surplus income of $52,753 87. Your revenue account includes receipts from this source.
The Shenandoah Valley Railroad Company.
The 100-Year Mortgage also provides for a further issue of
The property of this Company is operated by the Receiver.
$10,000,000 of bonds, bearing interest at not exceeding 5 per
cent, of which §5,000,000 are to be applied for acquiring addi- During the year the gross earnings were $968,720 62 and the
tional terminal facilities, branches and extensions, and other amount charged to operating expenses was $794,653 11, leavadditions and im^jrovements. The issue on account of any ing as net earnings $174,067 51. As during the previous year,
branch or short line or extension not to exceed $25,000 per there was included in operating expenses large expenditures
mile of completed road nor shall any bonds be withdrawn for renewals of wooden bridges and trestles, and for other purfor any additions and improvements other than terminal poses which will not be necessary after the contemplated imThe amount so
facilities and branches or extensions, until evidence has been provements to the property are completed.
furnished the Trustee that expenditures to an amount equal expended was about $50,000. In addition to this amount there
to the proceeds of the bonds called for have been provided and was also expended upon permanent improvements $128,164 03.
As compared with the previous year the
expended by the Company for other similar purposes, either
from its net income or from sale of shares of its capital stock. 'Gross earoinRS iQcreased
$130,772 65
124,091 94
The remainin;i §5,000,000 of this issue to be used for adding a Net earnings Increased
second track to any part of the lines of the Company.
the year 1889 the gross earnings of your CompanyDuring
When bonds of this issue further are sold tor any of the from business interchanged with the Shenandoah Valley Railpurposes specified, in advance of actual expenditures for such road, were as follows
purposes, then the proceeds of the bonds must be deposited in
trust, to be paid out only upon proper certificates to the
*The results for the first three months of 1890 (Miroh estimated)
Trustee showing the purjwses to which the proceeds are to be show an increase
(tross earnings over the oorresvouding period ot
applied and that expenaitures th%refor have been made.
1889 of $100,528, or 56 per cent.
;
:
m
April
THE CHRONiCLE.
26, IStO.J
Fiom passfngers
Fiom frelKlit
$32,459 89
28),0y« 89
593
from the development of the mineral and timber resources
upon the Clinch Valley Extension, and tlie completion of that
&
extension to a connection with the Louisville
Xasliville
Railroad will undoubtedly prove important additional sources
of traffic and revenue.
The traffic of the Company during the past year taxed its
transportation and terminal facilities to the utmost.
To
insure prompt movement of trains and ecoi-omy of operation,
and to provide for increasing traffic, it will be necessary during the year 1890 to<iouble-track portions of your line aggreBoard to make some permanent arrangement for the lease,
gating about 50 miles in length, to construct upon other poroperation, or control of the proiierty, if any such arrangetions of your line additional siding and passing points, and to
ment can be made on a fair and equitable basis.
provide additional terminal facilities. Additional equipment
CHANGE8 IN ORGANIZATION.
will also be required.
At the last annual election for Directors, Mr. Robert B. •^ The supplemental reports, hereto attached, show that theMint urn having declined re-election, Mr.. Everett Gray, of companies in which your Company owns the controlling interest have (wi-i,h the exception of the Shenandoah VaUey
London, was elected as his successor.
Railroad), ii . '.dition to meeting the interest upon their
CONNECTIONS.
bonded and oth'-r indebtedness, paid dividends upon their
Of the total gross earnings for the year 1889, $1,164,511 75, capital stocks. In all these comi)anies, excepting in the Shenor 82 per cent, was from through traffic that is, passenger andoah Valley Railroad Company, your Coinpanv owns all
and freight traffic received from and destined to connecting the bonds and shares, with the exception of one share each
lines. The earnings from through traffic increased §210,933 07 held by the several directors.
The net income for the year amounted to $806,054 08, equivas compared with the preceding year. The revenue of your
Company from through traffic should show very considerable alent to 3*3 per cent upon the preferred shares. Your Comincreases from year to year, owing to the number of new lines pany has no floating debt.
Semi-annual dividends upon the preferred shares of IJ^ pep
under construction which, when completed, will form additioKal connections for the interchange of traffic.
cent each were paid April 25th and October 24th.
The Treasurer's condensed balance sheet, and a statement
The Lynchburg & Durham Raih-oad is completed and in
operation from Lynchburg to South Boston, a distance of 61 and description in detail of the funded debt of the Company,
miles, and will be completed to Durham, a fur;her distance of is hereto appended.
For full statistics of the operations of
51 miles, during the year 1890. With this line considerable your line you are referred to the reporte of the Comptroller
traffic, especially in coal, lumber, tobacco and cotton, should and General Manager, which will be published in connection
w ith this report.
be interchanged.
The Board takes pleasure in acknowledging the ability and
The South Atlantic
Ohio Railroad, which has been in operation during the past year to Clinchport, on the Clinch River, fidelity with which the officers and employes have discharged
a distance of 43 miles, is now under construction to Big Stone the duties intrusted to them during the year.
Gap, a further distance of 23 miles.* The e <rnings of your ComBy Older of the Board,
pany from business interchanged with this line during the
F. J. KIMBALL, President.
1889
amounted to $65,118 02, and as the extension of the
Sear
ne will develop a territory containing coal, iron ores and
timber, a considerable increase in business may be anticipated.
CONDENSED BALANCE SHEET.
The Charleston Cincinnati & Chicago Railroad is under
GEtTERAL LEDGER SORTOLK & WESTERN RB. CO., DEC. 318T, 1889l
construction, and will connect with the Clinch Valley Extension of your line at Minneapolis, 80 miles from Graham,
Asatli,
at which point the extension leaves the main Clinch River and Railroad promises, property
and (rancUses
$48,793,508 14
follows its tributaries to "Norton."
Rolling stocit
5,544,210 Itt
As the Charleston Cincinnati
Chicago Railroad in its Car trusts, additional rolling stock: —
course crosses the Appalachian range of mountains, it deChargeable to principal
$754,651 89
velops a rich mineral and timber territory, and it is believed
interest
185,136 68
939,788 57
tliat the line, when completed, will form an important connection for the interchange of traffic.
BecurltlPS hcld.by trustee of 100-year mortgage 5 per
cent loan:
The Louisville & Nashville Railroad Company is actively
{Norfolk & Western RR. Co. preferred capital
prosecuting the work of constructing its extension to Norton,
stock
$3,000,000 00
the point of junction with your Clinch VaUey Extension, and
West Virginia & Ironton RR. Co. slock.
105,100 00
3,105,100 OOit is expected that its line will be completed during the latter
part of 1890. The completion of this connection will be an Norfolk & Western RR. Co. common stock owned, 1,1 57
shares
important one for your Company, as leading to the interchange
89,781 00
Investments in other companies
of a large volume of traffic.
Koanoke Machine Works bonds
$500,000 00
The completion of your North Carolina Extension to a conRoanoke Machine W'ks st'k 4167 shares
364,600 00
nection with the Cape Fear
Virginia Company's stock, 003 shares.
Yadkin Valle;y Railroad will
99,300 00
Old
Dominion
S8.
Co.
8tock,1876
shares
187,600 00
open up a most important through line for the interchange of
Shenandoah
Valley RR. Co. st'k, 30,571
traffic between Northwestern States and the States of North
shares
(
57,10000 1,208,600 00
and South Carolina and the South Atlantic seaboard.
Total grrss earntngB from bnninoaR interchanged
$318,450 78
expected that a decree of sale of the Shenandoah
Valley Railroad will be made some time during the year 1890.
In view of this it may be advisable for the shareholders to
authorize the incoming Board of Directors to protect the
interests of this Company in the Shenan<]oah Valley Railroad,
and to do whatever may appear proper in the opinion of the
It
is
—
&
&
:
I
&
I
.
i
1
I
Your Ohio Extension when completed will open up an ennew territory for the products of Virginia, and as it will
connect with quite a number of other lines and systems, it will
doubtless result in a large increase to the through traffic of
tirely
Snspense account
Materials and supplies
Roanoke Machine Works, representing
value of materials and supplies carried by that comp'ny
Advances to Virginia Company
Advances
to
your Company.
Accounts receivable (current
At Ceredo the Ohio Extension will connect with the Eliz- Cash
abeth Lexington & Big Sandy Raih-oad for Lexington,
Kentucky, and points beyond; with the Chesapeake & Oliio
Railway to Cincinnati and the West; and with the Ohio
River Railroad to Wheeling, Pittsburg & the Northeast.
PrefeiTed
At Ironton, Ohio, the line wUl connect with the Cincinnati Capital Btoct—Common
Hamilton & Dayton system, with the Scioto Valley Railroad and with the Ohio & Northwestern Railroad.
The Funded Debt:—
Ohio Southern Railroad and the Columbus Hocking Valley
VirUUmal Liens.
Toledo Railroad
&
are within 35 miles of the line of the
Ohio Extension, and will doubtless be extended to connect
with it either at the northern end of the Ceredo Bridge or at
C
•J
*$23,000,000 00
7,000,000 00
-$3-2,000,00000
Norfolk & Petersburg RR. Co
Southside RR. Co
& Tennessee ER. Co .......
$496,000 00
1,178,600 00
1,995,900 00
7,109,000 00
2,000,000 00
5,0mi.O<X) <io
l,a«H),O0O 00
525,(KH)0t)
2,500,000 00
2,360,00000
2,000,000 00
26,664,50000
Car Trust Lease Warrants,
Do
do
prfncljtal...
Interest....
$754,651 89
185,136 68
Aeorued but unmatured Interest on funded debt
Accounts payable (current balances)
Surplus of income December 31,1889
939,788 57
444,954 90
521,033 42
1,215,12235
$61,78o,399 24
*
-Completed to Big Stone Gap April, 1890.
$61,785,399 24
LiabUiiies.
Xorjolk <e Wesltrn BB. Co.
General ifortgage
New River Division First Mortgajre.
Improvement and Extension Mortg;
Admstnient Mortgaee
Convertible Debenture l)ond8
Clinch Vallev Division First Mortg..
Eniilpmcnt Mortgage loan
lOO-'Vear Mortgage 5 pet- cent loan..
CONCLUSION.
383,397 "5
107,750'e6
421,6 67 65
732,564 53
( Viigiuia
Ironton,
The proportion of operating expenses to gross earnings was
63 per cent, as compared with 61 per cent in 1888. A material
part of the increase of operating expenses, particularly during
the first six months of the vear, was due to the unprecedented
succession of storms and floods, causing washouts, landslides,
destruction of bridges, and consequent detention and interruption of traffic, the repairs and damages incident thereto being
charged currently to operating expenses.
At no previous time since the organization of the company
has there been such activity and prosperity at all points upon
your line as at present. The completion of the many new iron
furnaces and other industrial establishments now in course of
construction wiU ^eatly add to its traffic and earnings. A
very considerable increase of traffic may also be anticipated
balances)
1 68,563 40
310,167 38
Indndes $3,000,000 preferred capital stock deposited with trustee
mortgage 5 per cent loan.
of 100-year
THE CHRONICLE.
594
COTTON.
^ht Q^ommtxcml jinxes,
COMMERCIAL EPITOME.
Friday Night, April
3.5,
Friday, P. M.. April 25, 1890.
as indicated by our telegrams
from the South to-niglit, is given below. For the week ending
this evening the total receipts have reached 19.330 bales,
The Movement of the Crop,
1890.
in the price of silver at London, and the action
•of representatives of tne dominant party at Washington upon
the silver bill v»rhich has been so long,pending in Congress,
have been important factors in trade and speculation during
the week under review. Cotton was the first to feel their influence, but toward the close other staples were affected. The
Mississippi River has broken the levees above and below New
Orleans, a wide area of siigar lands is overflowed and portions
of the suburbs of that city are inundated, causing no little
suffering and much damage. General rains have fallen, doing
good except in the Mississippi Valley, where they have been
somewhat excessive. There are very serious labor troubles in
Chicago, growing out of a strike of the carpenters for eight
hours a day, and the agitation is extending to other cities.
General trade is unfavorably influenced by the agitation of
the many questions that are Ukely to cause important fluctuations in values. The canals of this State are to be re-opened
The advance
for navigation during the coming week.
Lard on the spot has been dull and declining, but to-day,
though quiet, was steadier, closing at 6-05c. for prime city,
6-65@6-67i^c. for prime Western and 6-3.5Ca6-85c, for refined
to the Continent. The speculation in lard for future delivery
was also at declining figures, under the free receipts of swine
at Western markets, but to-day there was a steadier market,
owing to pretty full purchases for account of Western
operators.
DAILT CliOSINO PRICES OF LAUD FUTUKiS.
Man,
Tuei.
Weti.
Thur.
Sal.
Maydellverv
June delivery
o.
c.
o.
July delivery
August delivery
September delivery
o.
o.
o.
6-68
6-76
6-75
6'81
6-91
6-95
6-63
6-70
6-76
6-82
6-88
6.94
683
691
6-60
6-66
6-73
6-81
Fi.
6 59
6 6
6-63
6-H9
6-80
f-85
6-89
•.'5
66^
against 30,981 bales last week and 33,570 bales the previous
week, making the total receipts since the 1st of Sept., 1889,
5,681,049 bales, against 5,388,988 bales for the same period of
1888-9, showing an increase since Sept. 1, 1889, of 393,061 bales.
Beeeiptt
at—
$14@$14-2o per bbl.
Cui meats were irregular; pickled bellies brought more
money, but hams and shoulders easier; the close is quiet at
95^@ 9^ c. for pickled h'ims, 5%'^5}^c. for do. shoulders and
136
434
639
1,898
Orleans...
Mobile
Florida
571
22
986
303
31
241
69
1,701
12
Barannah
Bmnsw'k,
361
409
275
124
750
9
21
299
238
3,811
57
Charleston
Port Royal, &o
5
406
93
40
117
105
766
Wilmington
Wash'gton.ie
3
2
5
77
4
13
104
355
615
292
99
138
289
137
25
264
219
1,314
1,754
201
200
103
231
276
385
252
128
507
583
373
Sew
Norfolk
West Point...
N'wp'tN's.&c.
New York
179
Boston
Baltimore
;
;
:
I
I
July
16-60C.
I
October
—a decline for the week of
10® 20
Raw
16-lOc.
|
January
15-75o.
points.
sugars have shown a hardening tendency it is probathat the floods about Louisiana will materially reduce the
Sroduction of- that State for the coming season; fair refining
[uscovado quoted at 5(a5 l-16c., and Centrifugal at 5 9-16c.
for 96 degrees test, but the close is quiet. Refined sugars are
quiet at 7J^c. for Standard crushed. Molasses steady, with
/ecent sales of three cargoes at 31c. for 50 degree test. Rice in
steady demand and firm. The tea sale on Wednesday went off
at steady prices, except for some irregularity in country greens.
Kentucky Tobacco has been more active, the sales aggregating 600 hlids. for export, the better grades showing more
firmness at the close. Seed leaf also in good demand; sales,
1,350 cases, as follows: 300 cases 1887 crop Pennsylvania
Havana Seed, 13 to 13c.; 300 cases 1888 crop Wisconsin
Havana, 10 to 13c.; 200 cases 1888 crop Pennsylvania Havana,
13 to 13c. 180 cases 1888 crop State Havana, 12i^ to 14c. 120
cases 1888 crop New England Havana, 16 to 37c.; 100 cases
1888 crop Dutch, private terms, and 150 cases Sundries, 6}^ to
85c.; also 600 bales Havana, 65c. to $1-15 and 450 bales
;
"ble
;
;
Sumatra, $1-15
low
prices.
Rettned petroleum is again partially dearer at 7'20c. in bbls.
9 20c. in cases; naphtha, 7"40c., which is easier; crude in
and
have been easier owing to the
opening of new wells and closed at 84%c. Spirits turpentine
is lower at 89c. with more doing at the decline.
Rosins in
demand and close firmer at $1 37^@$1 43 J^ for common to
good strained. Wool is scarcely so firm under freer offerings.
bbls., 7'30c.
Crude
,
Hops are
dull.
certificates
2,2671
44
1,791
1889-90.
13
195
2,149
1,642
4,151
6,901
19.330
51
l,107l
583
1,189
1,206
2,149
1,888
1,898
..
New York.
..
Boston
Baltimore.
Phil-dera,
..
&c
Totals
1888.
1890.
1889.
85,739
8,469
141,587
7,577
10,356
14,487
905
7,724
132,634
3,749
395,491
322,839
55,582
111,800
69.565
87,085
73,904
9,584 1,645,631
839 208,181
29
26,887
2,645 804,072
453 133,042
2,229 369,905
14,694
194 151,215
4,368
1,546 479,072
3,850 406,239
1,524 132,672
4,471
121,799
91,493
1,927
1,327
67,466
572
4S,942
4,337
1,532
11,162
5,273
332
124,134
6,000
1,667
12,138
6,913
220,389
8,200
4,716
16,981
19,330 5,681,049
36,205 5,388,928
269,918
445.343
3,811
2,157
766
West Point.
NwptN.,&c
1,
9,965
.
Norfolk
833,151
23,212
1,899,659
238,662
31,898
922,244
161,450
316,291
S«.«!fc.
Sitiee Sep.
4,379
Brun8.,<)EC.
Charleston
TAit
Week.
662.382
20.878
212
299
Savannah.
1888-89.
Since Sep.
1, 1889.
Thin
Week.
Mobile
riorida
4,747
268
1,833
104
1,314
1,751
583
1,189
1,206
2,149
1,888
In order that comparison may be made with other years,
give below the totals at leading ports for six seasons.
Receipts
at—
1890.
1889.
1888.
1887.
Galv'8ton,&c
New Orleans
Mobile
1.898
3,811
212
839
500
Savannah.
..
2,157
Charl'st'n.&c
766
104
2,645
2,229
4,005
2,209
45
4,633
2,743
Wllm'gfn,&c
Norfolk
Wt Point, &o
All others
Tot.thisweek
5,015
9,584
194
1,314
2,337
6,731
1,546
5,374
8,779
19,330
36,205
1886.
182
1,262
11,674
1885.
827
3,170
9,874
7,923
106
2,090
709
66
998
86
we
4,032
770
178
7,143
4,464
3,149
811
360
83
1,243
1,076
3,798
3,571
2,981
6,367
2,513
5,167
30,611
15.141
40,309
J
4,716
Since Sept. 1 l568 ,049 5S88,928 5220,725 5122,151 5039,198 1668,922
.
1
The exports for the week ending this evening reach a total
of 53,505 bales, of which 36,495 were to Great Britain, 750
to France and 15,260 to the rest of the Continent.
Below are
the exports for the week, and since September 1, 1889.
Week Bndino AvrU
From
Ho.
Great
ContU Total
Brit'n. Frante
n«nt.
Week.
Qalveston
New
Orleans..
8,886
7,«i»
Mobile
13.264
7".....
Savannah
Brunswick
Charleston ....
Wilmington...
Norfolk
West
Point....
N'port Nws. 4c
1,680
7.119
Boston
Baltimore
Phlladelp'a,*o
1,981
1<>««-«io..
1,964
2v9
14.697
Total.
1,650
7,119
.],t'64
New York
Total
ikpt.
Exporttd to—
Xxportt
to $1-80.
the Metal Exchange to-day Straits tin was more active
at buoyant prices; sales were 136 tons at 30-40^ 30-50c. for
May and June, and 30'50c. for July and August. Ingot copfirmer but quiet; Lake quoted at 14J^c. Domestic
J)er was
ead further advanced, with sales of 33 tons at 4-07}^c. for
May and 4 '050. on the spot. Domestic spelter is quoted at 5c.
The interior iron markets are steadier; demand good but at
On
2,157
For comparison we give the following table showing the
week's total receipts, the total since September 1. 1889, and
the stock to-night, compared with last year.
Wilmington
Wash'tn,&c
;
47
2,813
91
PIiiladelph'a,&c
Totals tbis week
Tallow firmer but quiet at 4t^c. Stearine
quoted at 8@8i^gC. and oleomargarine at 53^id;6c. Butter acCheese untive; Elgin 19t^'a26o. other creameries 13vttl9c.
settled; State factory full cream 10@lli^c. for old and 10 3
lOJ^c. for new.
CoSee on the spot has further declined and closes at 17^c.
for No. 7 Rio, with little doing an invoice of interior Padang
sold at 24J|'c. The speculation in Rio options has been unsettled
-and rather dull. Tlie advance at Havre yesterday had no
effect here the large stocks here have a depressing influence.
To-day prices made a slight improvement, but the market was
without feature, the close being steady, with sellers as follows
16-4fio. November
16-8.'c. August
l.l-coo.
May
16-70C. September
16'30o. December
June
15-80o.
hams 10?^@ lie.
212
299
<Iio.
P. Royal,<Stc
for bellies;
Total.
310
smoked shoulders 6^(a 7c. and smoked
5%@6jic.
I^i.
Tliurt.
314
6-75
6-85
Beef Iiams are steady at
Wed.
Taet.
65
. .
"114 50 for city extra India mess.
Hon.
Sat.
I
Galveston
El Paso, Ac...
Beeeipl* to
6S9
6m7
700
April 25.
6-92
704
t)90
Octoberdellvery
Pork has been unsettled and drooping, closing dull but
somewhat steadier al |13 75o|14 for new mess, $10 7.5td$ll Qalveston
£1 Paso,<Sic.
ior extra prime and $13^ $15 50 for clear back. Beef is easier
at $6 50® $7 for extra mess, $7 75 it $3 for packet and $13 li New Orleans.
7'P5
7'10
[Vol. L.
8«9
Great
Britain. France
306.770 34.666
860^794 S-9,771
44.789
153.0e« 80,886
10«,!«3
61.284 »*,"-'
79.181
824.449
1C&.998
36.503
445,145
2.895
17,742
3,388
179
8,161
3,667
6.363
127,113
2,>V2
86
1,617
89.903
780
16.495
ri4.nNi
1
1. IM«» to apr.
Exported to—
69.164
..
.
....
89,575
1,874
750
15,860
5«.806 2.677,117 470,051
1i«
11.540
67
."Wi
Continent.
26,
1890
Total,
132,110
47S,B3S
68«,362 1,726.927
44,789
313.821
527.1C9
14.*i7
117,179
1H4.802 240,388
38.888 112,148
37,758 2«2,206
180.018
84,020
96
36.599
185.136 619.858
I30,10«
8,993
64.W.!
llbfiOt
>
!,»'.
2 6*7,891 '373.658 l,il...
.?I,H
.:'!t.m
J-)3,T07
J
Apbil
THE CHKONICIJi
26, 1890,]
In addition to aliove exports, our telegrams to-niglit also
give US the following amounts of cotton on shipboard, not
We add similar figures for
cleared, at the ports named.
New York, which are prepared for our special use by Messrs.
Lambert. 24 Beaver Street.
Carey, Yale
0« .^A^p6uard, not cleared -/or
595
The Sales and Prices of Futures
are
showa by th«
following comprehensive table:
&
AprU
New
lU—
25,
Leacing
Other
B%'SL. «<»-• Foreign
3.023
1,278
13.198
1.209
None.
None.
None.
705
None.
None.
None.
None.
None.
600
None.
None.
None.
None.
None.
None.
None.
1.873
2,403
3.102
Orleans...
Mobi.e
Charleston
..
..
Savannah
Galveston
Norfolk
O'XMt-
2,500
6.100
5.500
New York
Other ports
Total 1890...
19,828
Total 1889...
Total 1888...
29,991
30.270
1
t
Stock.
Totul.
20.708
None.
64 971
8.469
000
700
600
700
680
500
None.
11..350
None.
8,000
8,102
112.784
10,774
20,348
3,749
45.803
224,115
27.139
12,504
11,162
7,740
70,095
374,048
478.797
4,650
2,500
305
9.«.'>6
2,<il)l
1,385
3,000
.^3,676
The speculation in cotton for future delivery at this market
was at hardening values on Saturday and Monday morning
but soon after the opening on Monday a decline set in, which
;
down
to the close of Tuescontinued with little interruption
day's business, when this crop had receded 12 or 14 point*
from the best figures early on Monday. This sharp break was
due mainly to the check upon the advancing course of the
price of silver, but disquietmg reports of labor troubles in
Middle Europe contributed to the depression. Not only did
the " longs " unload freely, but the Bears again had the courage to " go short," with more freedom than during several weeks
But on Wednesday
past, anticipating a further decline.
the sellers of
silver and the Liverpool market were up again
cotton on Tuesday were active buyers to cover, and prices soon
recovered to about the best figures of Monday. Some of the
early advance was lost in the last hour, under sales to realize,
but " going short " for a further decline was not dene to any
extent. On Thursday there was an early advance, which was
soon lost but in the last hour there was renewed buoyancy,
with some excitement, on reports of a sharp advance in silver
here and at London, and action at Washington upon the
pending silver bill. Prices advanced to the highest figure of
the season, with heavy buying for July and August, and the
buj'ing for the next winter months materially increased.
To-day 'he opening was a few points higher, in response to an
important rise in Liverpool, but under free selling prices soon
receded. The next crop was quite freely dealt in, October
being the favorite month. Cotton on the spot was rather
more active for export on Tuesday at easier prices; but on
Wednesdav the market was firm, with a fair demand for home
consumption.
Yesterday a better business for export was
again re(X)rted. To-day there was a further advance of l-16c.,
;
.
;
middling upland closing at \\%c.
The total sales for forward delivery for the week are 468,300
bales.
For immediate delivery the total sales foot up this week
€,641 bales, including 4,710 for export, 1,931 for consumption,
liales
for speculation, and
in transit. Of the above
were to arrive. The following are the official quotations for
each day of the past week April 19 to April 25.
—
—
—
—
UPLAND8.
Nat.
¥
Ordinjirv
Strict
Ordinary
9\t
lb.
^"i
|
mon Toe* Wed
10'f>i,
lOlo.fl 1015,
1011>16 11
1138
1138
11=8
ll»s
1113,, ll",e
121, R 121,8
I2I4
1214
1138
11=8
liu,e
lll^l^
Ifs
ilCa
LowMlddlluit
Strict Low Middling
1138
Ill^S
Ill's
ll'>8
ill'^ie Ui.'l
12 'i« 12',
Middlin>t
Good
iMiddllD!,'
Strict
Good Middling
GULF
Low
Good
"at.
'i«
117.8
1218
12m«
Vi\
ViH
non Tnen Wed Th.
Pri.
938
938
934
9^8
9%
913:« 91s,, 913,8 9is,«!
lOHif 1011,8 lO'l 8 1011,, lOili
lll8
Ills
Ills
113,8
Uifl
ll>e
11",
llXlR ll*!. il'.s 11-18 ll^S
ll'S,, IUJ.8 mil, Ills,, lll-i,e IIT9
I2I18
Il2
12
12
12
ilSu 1214 1214 I214 I2I4 12^ 8
112',
12',, 121,8 12',, 12-',a 121a
12''8
12^9 121'>,6
12»9
1279
12^8
llSSg
1338
1338
1338
1338
13'l8
I
(Ordinary
I
Miildling
Good Middling
Middling Fair
Fair
Strict
STAINED.
Nat.
«
Good Ordinary
Strict Good Ordinary
Low
10
933
Q^Ht.
ip Ih.l
Middling
Strict Low Middling
Middling
Good
1019
1
Orainary
Strict Ordinary
Good Ordinary
Strict
OH
9=8
1012
121,
I2I4
1214 1214
Il2ii,. 1211,0 1211,. 12;il«: 1211,
13 <i. 13i
13^,. I33|» 13*
Middling Fair
Fair
9"4
91I1B
9>,«
9«8
10»a
Good Ordinary
Strict Good Ordinary
10i»ie
Pn.
Th.
93:,
9»8
10»a
lb.
8 618
Rlon Tafia
8li>„
9',«
10i«
Mid,lllng
MldiUIng
IID,.
ll»i.
81 i,
9»
IOI3
Il'.«
,1
Wed Th. FM.
8li|6
9»,
IOI9
11»,8
9
9-18
IQis
U'l
9!ig
jr4«
MARKET AND SALES.
The total sales and future deliveries each day during the
week are indicated in the following statement. For the
convenience of the reader we also add a column which allows
at a glance how the market closed on same days.
BALKS OF SPOT ASP TRAKSIT.
SPOT MARKET
CLOSED.
Bat.
Firm
Mon.|Flnn
.
Tnc8.
Ea.'^y
port.
3,526
,
.,
175
,.,
Wed. Firm
Thur.'Flim
Ex-
_.
709
Frl. . . jsteady at i]g a<t;
Oon-
Hyec- Tran,
Total.
trump, ut't'n tU.
563
294
156
414
200
304
4,089
294
631
411
909
304
FrTDRBS.
8nU*
33.900
83,700
64.000
70,700
89.900
119,500
DUiv-
* IncUidc? mlesi in September. 1889. (or September, 147,600: September-October, for October, 040,000; September-November, for November,
e30,2tH); 8(jptcmber-Doccinbor, for December. .^57.20.,; September,
January, for January, 1,570.100; September- February, for February,
1,125,100; 8eptembci>March. for March, 2.236.9U0.
CW' We have included in the above t-ihle. and shall continue eaek
week to give, the average price of futures each day for each month. It
Th«
will be fouml under each day following the abbreviation " Aver."
average for each month for the week is also given at bottom of table.
Trausfer.iblp Orders— Saturday, IfSOc.; Monday, ll'85c.; Tuesday,
ll-7.")C.: Wednesday, ll-85c.; Thursday, H-8oc.; Friday, 11 -SOo.
*^\ in
"
V.
Total'
4,710
1,931
6,641 468,300
jil.
.1
',
Oa
J
rl.
following exchanges have been
500 Deo for Aug
exok. 200 April for July
exoh. 2.000 Apr tor June
exoh. 100 April foi May
to exch.
»)
wL M
"01 ptU U)
I
I
|
-02
made during
the week:
to exoh. 100 April for
200 May for June
p<l.
Even
Even 900
01 pd. to
3f»y
ay for Aug
exoh. 600 Apr for May
•)
THE CHRONICLE.
69cJ
The Visible Supply of Cotton to-night, as made up by cable
as follows. The Continental stocks, as well as
those for Great Britain and the afloat are tliis week's returns,
and consequently all the European figures are brought down
to Thursday evening. But to make the totals the complete
figures for to-night (April 25), we add the item of exports from
the United States, including in it the exports of Friday only.
and telegraph,
is
1890.
bales 1,111,000
1887.
1888.
1889.
1^,000
1'2,000
828,000 1,013,000
17,000
21,000
Total Great Britain stock.
Stock at Hamburg
Stock at Bremen
Stock at Amsstenlam
Stock at Rotterdam
Stock a t An twerp
Stock at Havre
Stock at Marseilles
Stuck at Barcelona
Stock at Genoa
Btock at Trieste
,123,000
4,200
121,000
7,000
5,000
192,000
4,000
91,000
5,000
3,000
901,000
2,100
37,400
16,000
400
12,000
122.000
5,000
81,000
17,000
10,000
849,000 1,030,000
4.000
3,000
51.700
44,900
30,000
18,000
400
300
1,400
700
184,000 262,000
3,000
2,000
56,000
66.000
6,000
6,000
12.000
7,000
Total Continental stocks
438,500
303,200
333,000
Stock at Liverpool
Stock at London
889,000
300
426,000
Total European stocks.. .. 1,561,500 1,204,200 1,182,000 1,456,000
Indlacottonalfoattor Europe. 328,000 26f»,000 197,000 303,000
Amer.cotfu afloat for Europe. 182,000 215,000 239,000 195,000
5o,0fio
EKyptBraziU&catttforE'r'pe
19.000
17,000
54,000
Stock in United Stales ports..
269,918 445,313 532.173 423,5J7
Stock In U. S. interior towns..
73,994
71,^27 188,775
78,722
United States exports to-day.
13,712
18,474
13,203
11,779
Total visible supply
Of tlie above,
t lie
2,448,124 2,231,2412,106,451 2,518,093
totals of American and otlier descriptions are as follows:
Ameruian—-
SlVol. L,
The above totals show that the old interior stocks have
decreased during the week 8,356 bales, and are to-night 2,76T
bales more than at the same period last year. The receipts at
the same towns have been 644 bales more than the same
week last year, and since Sept. 1 the receipts at all the towns
are 24,026 bales more than for the same time in 1888-89.
Quotations for Middling Cotton at Other Markets.—
In the table below we give the closing quotations of middling
cotton at Southern and other principal cotton markets for eaca
day of the past week:
CLOSING QPOTATIOSS FOK MIDDLINO COTTON
Week enifina
April 25
Galveston
New Orleans
Mobile
Savannab...
Satnr.
Mon,
11
11
18
11M6
11%
It's
11%
11%
Charleston.
Wilmington.
.Norfolk
11 »4
11 '3
11=8
ll'»l«
l'l«a'4
115l6
Boston
Baltimore...
FUiladelplila
Augusta ....
.Memphis ...
im
U
11%
11%
ll'ie
11*16
113,g
IIU
11 '1
11 '4
American afloat tor Europe...
United States stock
United States iuterlorstocks..
United States e.xports to-day.
Total American
East liuiMii, BiazU,
Liverpool stock
<Cc.
692,000
193,000
215.000
445,343
71,227
18,474
840,000
341,000
182,000
269,918
73,994
13,712
bales
603,000
215.000
239,000
532.473
188,775
13,203
809,000
319,000
195,000
423,597
78,722
11.779
1,723,624 1,635,044 1,796,451 1,837,098
—
271,000
12,000
91,500
328,000
19,000
Loudonstock
Continental stocks
India afloat for EuroiK)
Egypt, Brazil, &c., afloat
East India, &c
Total American
197,000
12,000
110,200
260,000
17,000
220,000
21,000
118,000
197,000
51,000
204,000
17,000
107,000
303,000
50,000
724.500 596.200 610,000 681,000
1,723,621 1,635,041 1,796,451 1,837,098
T.)tal
Total visible supply
2,448,124 *,231,244 2,406,451 2,518,098
Price Mid. Upl., Liverpool
6'..d.
6d.
5%d.
5'bd.
PriceMld.Upl., New York....
ll'sc
1015,, c.
9l3„c.
lOi^ c.
It^ The imports
into Continental ports this
week have been
79,000 bales.
The above
figures indicate an increase in the cotton in sight
to-night of 216,880 bales as compared with the same date
of 1889, an increase of 4t,673 bales as compared with the
corresponding date of 1888 and a decrease of 69,974 bades
Fri.
11%
U'lS
ll^ia
11*16
11^*18
11%
11%
11%
11 -'iB
11%
11%
11%
11%
11%
11%
ll's
ll's
11^8
11%
11%
li'e
11%
ll's
11%
11%
12
12
11%
11%
12
11%
11%
11%
11>4
11»4
11»I6
III9
III4
11%
11%
11^
11%
11%
Louisville.
..
III4
11 >4
1114
11%
n't
11%
11'*
11%
12
..
ll^u
11 '4
11%
11%
117
11%
12
11>3
in,8
6
11%
ll's
11"4
ll'l
The closing quotations to-day (Friday) at other important
Southern markets were as follows:
Atlanta
1034 Little Kotk ....
Columbus, Ga.
lO'a Montgomery .
CoIumbus.Miss
10% N asbville
I
Liverpool stock
Continental stocks
ON—
Thurt.
11%
Louis
Cincinnati
St.
Wednet.
Ta.es.
.
|
Eufaula
11
Natchez
I
11
Raleigh
lo'e
lli*
III4
Kome
Selma
III4
11
lO's
Sbreveport
lO'g-
Receipts From the Plantations.—The following table
indicates the actual movement each week from the plantations.
The figures do not include overland receipts nor Southern
consumption; they are simply a statement of the weekly
movement from the plantations of that part of the crop which
finally reaches the market through the outports.
WUk
RecHptt ot tlu Port: St'kat Interior Towns. Btc'vtifrom Ploni'tu,
}lcb.2\
"
28
Apr.
4.
"
11.
••
"
..
.
18
as
Ib88.
lb89.
li88.
If 89.
1880.
3S,3S0
33,896
S9,56S
84.273
28,504
48,500
40,407
38.547 2:6.960 195.62)) 151,459
41.065 262.737 175,63' 128,127
34,377 249.536 148,21' 119,02
23,57. 235.765 128 779 69 0"5
27,981/
3J,922
20,98) 217,27r. 102,8S-
S0.841
.38.205
19,330 199.87(1
51.57.1
81.09'
1B90.
1888.
1889.
30,470
61,631
31,578
19.17:h
28,882
733
19,084
20,969
90,25i!
9.491
13,031
80.08:'
13.236
14,407
14
'
180O.
17.357
11,763
25,246
9
54^
12.228
9,161
—
The above statement shows: 1. That the total receipts froia
the plantations since September 1, 1889, are 5,748,688 bales; ir»
1888-89 were 5,454,643 bales; in 1887-88 were 5,396,765 bales.
2.
—That, although the receipts at the outports the past week
compared with 1887.
were 19,330 bales, the actual movement from plantations was
At the Interior Towns the movement—that is the receipts only 9,161 bales, the balance being taken from the stocks at
week,
and since September 1, the shipments for the the interior towns. Last year the receipts from the plantations
for the
week and the stocks to-night, and the same items for the for the same week were 14,407 bales and for 1888 they were
as
corresponding period of 1888-89
following statement.
H
tSWrrH
w^rsw^ ^
83
"-
a
-
—
is set
out in detaU in the
S.3-s-^
=
Amount of Cotton in Sight April 25.—In the table below
we give the receipts from plantations in another form, and add
to them the net overland movement to AprU 1, and also the
takings by Southern spinners to the same date, so as to give
substantially the amount of cotton now in sight.
5
H
2 »
o
F
o
OP
=
S5.2^
•"
OO OO
WOiOCi' ^co
"
WM
"
10
13,235 bales.
•at
1889-90.
p p
8?
•
Tot. receipts
w
rf^
X
ifk
>!*-
»e*
tO
H r- 0' W W W Ol
1887-88.
188G-87.
from plantat'ns 5,748,688 5,454,643 5,396,765 5,171,075
834,374 843,550 855,124 720,395
1
383,000 376,000 349,000 303,000
Net overland to April 1
Boutheru consumpt'u to Apr.
Total In sight April 25
tS
1888-89.
Beoeipts at the ports toApr.25 5,681,049 5,388,928 5,220,725 5,122,154
Interior stocks on April 25 in
excess of September 1
67,639
65,715; 176,040
48,921
00 OIQD <l
05O CO CI WW OW"*-© © CD H> O Cl
6,966,062 6,674, 193 6,600,889
6, 191,47
O
Northern spinners takings to
April 25
1,643.638 l,e45,108!l,547,42l|l,433,967
fc5M(XC:tt»l0-^UiC0WC001Wt0tf^WO'X'O
—
H>eocDc;i<
CEO
tkc»f-co:
eo:
Weather Reports by Telegraph. Our telegraphic advices to-night indicate that in portions of Texas, Mississippi
and Arkansas the rainfall has been heavy. In Texas it was of
great benefit, being needed, but in the other States mentioned
it delayed planting operations.
Elsewhere favorable weather
has prevailed. In some sections planting is about completed
and cotton is developing promisingly.
Oalveston, Texas. It has rained hard on three days of the
week, the rainfall reaching three inches and ninety-nine
M W 03WMK<
ccoccco; an*
GO
OO CO CO.
^ ti
»*»
M
OS
>** •'J
Oh-OCJ
*-*
S"^
;
o o a o cc totoojco.
o; iv -J to
M
w*-OiOiOoao
H Oi
10 CO
'
•'I
oo:o9tFk-q»-vio
—
hundredths.
CJiOtO-lfcO'
^
cocn
^JlOltot^^J^swcooo<l
©
m tc to to o
to W CO U M Ut Ol
0< CO •^ to O
03
«**
1:0
t- *"
©
(f-
cc tC »0
tf*.
OTDCccOiC;!'
to cj
F-
*!.
CI*
uMw
to to- to -
XH-toiooo; to x:
Ci<X)OOf^< COM|~>
M»OXtt»M
w
one inch,
<JC5
M OT^O**-©*-*©©
© H- tc © to © W tn
© w K to *» © 63 ce "oi <j *>
-i © © © X
©.tK O
© g) 10 © © H ©
i-*
O" to CO tobo
xo<©©©©io©c;»©' C'Ctooufxcx
tf*.
•
rf^
* 1889 flsurei are for Palestlue. 1 1889 llguresare for Petersbnrg,
} Loai«viUe in both years are " net."
J Th.*! year estimated.
Farm work
meter has averaged
(t».
li* »f-
78 and low-
—We
hundredths.
O GO W C 'X c/ft- "io'tc x o co'^lt* 01 ©
tOCOC»>-*GC»lCi'Ur --rf-CJ'yiCOXXita CI CJ a u
X -g © ro to M *. 01 CO
tU©t—
68, highest
The thermois progressing well.
the higliest being 80 and the lowest 60,
Beneficial
Hunisville, Texas. Planting is nearly finished.
showers have fallen on four days of the week to the extent of
©C; M OSK) WOj to Oi COptfl! yt. © ©CD t3 (f. ta
cc I—
Average thermometer
Palestine, Texas.
have had good showers on six days
of the week, the precipitation being one inch and thirty-four
u
c;©--icocj»<ix
CO
05 :
est 57.
M^J^OOHCOlOCOtOKOOOS©
V»
70,
—
The thermometer has averaged
73,
ranging from
62 to 82.
Dallas, Texas.— li has rained splendidly on Tour days of the
week, and just as needed. Planting is active. The thermometer has ranged from 40 to 72, averaging 56, and the rainfall reached two inches and fifty hundredths.
San Antonio, Tearas.— Stands of corn are generally good,
Prospects are
and much cotton is being chopped to a stand.
good. There have been splendid showers on five days of the
April
THE
26, 1890.J
CHRONICUfi.
week, the rainfall reaching two inches and thirty hundredths.
Average thermometer 72, highest 86 and lowest 57.
Luling. Texas.— It has rainefl hard on four days of the
week, doing much good. The rainfall reached four inches
and ninety hundredths. Com stands are good and cotton is
coming up well. The thermometer has averaged 65, the
highest bemg 82 and the lowest 48.
Btunham, Texas.— H&xA rain on five days of the week has
interrupted work in lowlands, but nevertlieless has done incalculable good. The rainfall reached five inches and seventy-
697
—
India Cotton Movement from all Ports. The receipts
and shipments of cotton at Bombay have been as follows for
the
week and
rear, bringing the figures
BOMBAY BECEIiTS AM)
SMpmettt* thit mek.
ttar nreai
OonttRrtfn. neni.
Total.
BillrMENT))
8kipmen,;$ tlne e Jan.
Oreal
Biilnin
Continent.
to April 34.
YEAKft.
Beteipti.
1.
TMi
Total.
59.000 72,000 210.000 fl07.00<)
188U IM.OOO 2<i.OO'-. 44,000 211. (MIO .^<U,00(^
1888 1.000 2."),()00 20,000 122,000 H.'i'i.OOO
1887i25,0O0'32,000 57,000.183,000 397,000
l>!9fl
down
FOB FOVB
One*
Jan.
^eek.
1.
8 1 7.0<M) 90,0(H) 1 ,219,000
8(1.-).(X)0 Oil.OOO 1,119,000
4 78,0(K) 07.000
H(;2,(M)0
IS.OfK)
three hundredths. Prospects are excellent. Average ther5SO,000 80,000 935,000
mometer 67, highest 83, lowest 51.
have had rain on four days of
According to the foregoing, Bombay appears to show
New Orleans, Louisiana.—
an increase compared with last year in the week's receipts of
the week. The thermometer has averaged 69.
Shreveport, Louisiana. Rainfall for week one inch and two 27.000 bales, and an increase in shipments of 28,000 bales, and
hundredths. Average thermometer 65, highest 77, lowest 51. the shipments since January 1 show an increase oi 12,000 i>ales.
have had rain on three days The movement at Calcutta, Madras, and other India ports for
Columbus, Mississippi.—
of the week to the extent of two inches and fifty-four hun- the last reported week and since the 1st of January, for two
"Other porta" cover Ceylon,
dredths. The thermometer has averaged 60, tlie highest bemg years, has been as follows.
Tuticorin. Kurrachee and Coconada,
70 and the lowest 44.
Leland. Mississippi. The weeks precipitation has been four
ShipmenU tinee Jamuu^ 1.
elUpment* for the week.
The thermometer has
inches and eighty-six hundredths.
averaged 63'3, ranging from 53 to 78.
Oreat
Oreat
ContiTotal.
TotaL
Britain.
nent.
BrUain. Continent.
Oreenville, MiyKissippi Telegram not received.
Meridian, il/('.s.s(.ssi/y^('.— Telegram not received.
Calcutta
Vicksburg. Mississippi. "We have had rain on three days of
20.000
7.000
56.000
76,000
7,000
1890
38.000
64,000
the week, the rainfall reaching two inches and ninety-five
2,006
2,000
26,000
1889
Uadrag—
highest
hundredths. The thermometer has averaged 63, the
10,000
1,000
1,000
5,000
5,000
1890
lowest
51.
being 79 and the
2,000
7,000
5,000
1889
Little Rock, Arkansas.
The past week has been rainy and All others—
13.000
16,000
29,000
1890
disagreeable, almost putting a stop to farming operations,
i',006
i',006
14,000
38,000
24,000
1889
rain having fallen on five days with indications of more to
follow. The precipitation reached one inch and twenty-three rotalall115,000
8,000
38,000
77,000
hundredths. The thermometer has avercged 62, ranging from
8,000
1890
109,000
55,000
54,000
3,000
3,000
1889
51 to 72.
Helena, Arkansas. There have been heavy showers on four
The above totals for the week show that the movement from
<iays of the week, the precipitation reaching two inches and the ports other than Bombay is 5,000 bales more than the same
thirty-three hundredths.
Farmers claim that the rain has week last year. For the whole of India, therefore, the total
been about as bad as the overflow. The river is falling rapid- shipments since January 1, 1890, and for the corresponding
ly and will soon be oiT of fields near here. The thermometer p«riods of the two previous years, are as follows:
has ranged from 45 to 72, averaging 60.
EXPORTS TO E¥BOPE FBOM ALL INDIA.
Nashi'ille, I'ennessee.
It has rained on three days of the
1889.
1888.
1890.
week, the rainfall reaching fifty hundredths of an inch. The
thermometer has averaged 62, the highest being 75 and the toShipments
Thit
Sinee
Sinee
alt Europe
Thit
8' nee
Thii
lowest 44.
week.
Jan. 1.
Jan. 1.
week.
Jan.^.
week.
from—
Memphis, 7'e?H!cs.see.— Rain on three days of the week has
72,000 817,000 44.000 805,000 26.000 478,000
delayed planting operations. The rainfall reached one inch Bombay
115.0001
3,000 109.000
4,000 120,000
and twelve hundredths. At some points in North Mississippi AU otlier ports. 8,000
good stands of cotton have been secured. The river is within
Total
80,0001 932.000; 47,000i 911.0(K): SO.OOol 598.000
Its banks here and all danger is past.
Average thermometer
Alexandria Receipts and Shipments. Through arrange64. highest 76 and lowest 52.
Co., of
ments we have made with Messrs. Davies, Benachi
Mobile. Alabama. Planting is well advanced and the crop
Liverpool and Alexandria, we now receive a weekly cable of
is developing promisingly, althougli somewhat delayed on
following
the movements of cotton at Alexandria, Egypt. The
lowlands. Rain has fallen on two days of the week to the exare the receipts and shipments for the past week and for the
tent ot sixty-seven hundredths of an inch. The thermometer
corresponding week of the previous two years.
has averaged 67, ranging from 58 to 78.
Selma, Alabama. Rain has fallen on three days of the
Alexandria, Egypt,
1887-88.
1889-90.
1888-89.
April 23.
week, the rainfall reaching thirty-two hundredths of an inch.
Average thermometer 65, highest 76 and lowest 51.
Heceipta (cantara*)
Montgomery, Alabavia. The weather has been fine all the
8,000
Tbisweek
10,000
6,000
week, and there ha-s been no rain. Cotton stands are good and
2,855.000
3,122,000
2,710,000
Since Sept. 1
the plant looks strong and healthy. The thermometer has
Thit
<Stn«e
ThU
Since
Thit
Since
We
—
We
—
—
—
—
—
—
—
&
—
—
!l
—
ranged from
51 to 82,
i
\\
averaging 65.
I
I
Autmm, Alabama. — We have had no rain
week.
Sept.
l.I
week.
Sept.
week.
1.
Sevt. 1.
the week, and
(bales)—
the plants are beginning to suffer for moisture. The ther- Exports
To Liverpool..
1,000 245.000' 1,0002 16,000 4.000232,000
mometer has averaged 62-9, the highest being 79-5 and the
ToConMueut
1,000 Ul, 000 4,000il39,060 2,000| 144,000
lowest 49.
Europe.
Total
2,000:380,000 5,0001355,00011 6,000i376,000
Madison, Florida. There has been no rain all the week.
* A catitar is 93 pounds.
The thermometer has ranged from 52 to 85, averaging 68.
Columbus, Georgia. Tliere has been no rain all the week.
Manchesteb Market. Our report received by cable to-night
The thermometer has averaged 68, ranging from 59 to 78.
from Manchester states that the market is firm for both
Savannah, Georgia. We have had rain on two days of the yams and shirtings. The demand for both yams and cloth
"week to the extent of twelve hundredths of au inch. Average continues good. We give the prices for to-day below, and
thermometer 63, highest 76, lowest 51.
leave those for previous weeks of this and last year for
Augusta, Georgia. The weather has been clear and pleasant comparison:
•during the week, with light rain on two days. The rainfall
1889.
1890.
reached twenty hundredths of an inch. Recent cool mornings
damaged cotton to some extent, but the present warm change
Ooten
8<4 Ibt.
32. Cop.
32* Cop.
9H U».
Mid.
is beneficial. The plant is coming up nicely, yet rain is needed.
Bh irtingt.
Bhirtingt,
Twitt.
Vpldt
With a continuation of existing weather and occasional showers cotton will improve and grow rapidly. The thermometer
9.
d.
d.
d.
d.
d.
d.
8.
A. 9. d.
8.
d.
has averaged 62, the highest being 81 and the lowest 39.
Mb. 21 8iis®8>>ie
Nominal.
6% |7iBi«®8'i6^6 1 ®7 1»2' 5>li«
•'
2? a5,„<t8"l^ 6 2 »7 3
6>s 17I5i6»8'ibI6 1 ®7 l^a! Siiig
M'ilson, North Carolina.— Telegram not received.
8">.,w8ii,f 6 2 ^7 3
6% '71»,6<t8'if'6 1 •»7 mj 5^1
Stateburg, South Carolina. It has rained on two days of Ap^.:^
'•
eig |81ie a89|„ 6 3 ®7 3%, SiSje
11 8»i'Ba8tii« 6 2 *7 3
the week; and there has been frost on one morning, injuring
" 18:8* 8»8liie!6 3 «7 3
6» „ 8f,eW8ii|„|6 4 »7 i^i 6
-it8'« '6 ^.H'^^ 2
6
some early cotton on lowlands. The thermometer has ranged " 25:838 »8^ If. 3>aS7 3>a 67,8 Is
from 42 to 76-4, averaging 573, and the rainfall reached
India
The
following
is from the Bombay
East
Crop.
eighty-five-hundredths of an inch.
March 88:
Charleston. South Carolina. There has been no rain all the Company's (Limited) Cotton report, dated
The local mills Imve been buying sparingly, cbletly la consequence of
week. The thermometer has averaged
ranging from 47
all
.
I
[
—
—
—
—
—
^S"
'
—
I
—
—
61,
to 76.
The following statement we have also received by telegraph,
showing tlie height of the rivers at the points named at 3
o'clock April 24. 1890. and April 25. 1889.
Apr. 24,
Peel.
New Orleans
15-2
Above low-water mark.
Above low-water mark
23-7
N*)livllle
Above low-watt;i- mark.
18-3
fitireveport
Above low-watermark.
28-4
Ylckuburg
Above low-water iii.irk.
480
NoiE.— Keiiorts ore now made In feet and tenths.
Mempbis
-
'90.
Apr. 25, '89
Fett.
8-8
17-2
7-B
19-5
231
tbe contiiuu rt diiluess ot tbe further Eastern murkets. A movement to
adopt short time to the extent of a stoppagrt for ciabt days a mouth 1(
now oti foot among the Bomb.w mills, and it is likely that this course
will lie adopted f"r the next three months. Receipts are again rather
smaller than i-t this time last year. The arrivals of Broach have been
very larg . Tiie cleaianoes of eotton have been uuusually heavy, and
the total for the seasoa is now in excess of last year.
Jute Butts, Bagging, &c.
—There
is
a moderate
demand
for bagging and the market is not active. Prices are quoted
at 6J4C. for IJ^ lbs., &%c. for \% lbs., 7L^c. for 2 lbs. and 8^0.
for standard. Some business is reported in jute butts and.
paper grades are held at l-50al-60c. and bagging qualities
at 1%@2>4C.
THE CHRONICLE.
£98
Exports of Cotton Goods from Great Britain.— Below
the exports of cotton yam, goods, &c., from Great
Britain for the month of March and since October 1 in
1869-90 and 1888-89 as compiled by us from the British Board
of Trade returns. It wiU be noticed that we have reduced
the movement all to pounds.
[Vol. L,
Octton freight 3 the past week have been as follows:
we give
Havre, steam
Do
lamAJhread.
lotol of AU.
Cloth.
'89-90.
1888-9.
1888-9.
1889-90.
1888-9.
•89-90. 1888-9.
1889-90.
Lb$.
84,096
Lbs.
110,106
101,281
20,808
22,037
82.176
72,490
Tot.lst quar.
67,469
70,223 1.247,042 1,297,066 226,786 235,830
294,204
306,053
January
February
23,811
83,111
21,567
81,206
78,442
74,190
98,882
105,716
101,553
24,421
March
21,214
26.009
64,762
85,170
85.976
95,767
111,179
Total 2d qr.
8»,V41
70.687 1.217,027 1.307.903 221.278 237,802
290,524
808,4!-9
136,715 140.910 2.464.089 2,H04.974 448,013 473,832
684,728
814,542
Lba.
23,247
Total6mos.
Sundry
2S,B14
Tdl.
tb..
26,010
r<j».
462,527
42:!.44«
427.7B2
435,840
388.899
395.834
U>t.
76.990
77,775
71,970
79,244
481,429
408,044
488,436
75,221
artlcl
Total exp ort» of cotton mannlaotures
Wednet.
Tkw.
FH.
Ssa
'88
ssa
'32
%
38
%
«8
Do
94,888
>•"
e.
.
"a
931
1,115
12.154
11,419
697.816
e27,07«
d.
saU
''is'
'is'
^is'
'is'
50*
60*
50*
50*
50-
5o"
\
H
"h
H
'"4
^4
d.
Baroelona.steamd.
Oenoa, steam . .d.
h»
hi'
14®?S2
>4®93a
»32
»3a
"32
».,a
^32
.
Trieste, steam... d.
Antwerp, steam d.
* l-er 100 lbs.
"is'
»i«'
l4®93j
H»93»
»8a
^33
»3a
»3a
"aa
^sa
—
April
of manufactured cotton, against 637,076,000
a decrease of 29,260,000 lbs.
Sales
week
Of which exporters took
Of which speculators took.
American
.
Actnal export
Thk High Water. —Numerous breaks are reported this
week in the levees along the lower Mississippi River, due in
considerable measure to the heavy rain and high wind. On
Amount ahoat
Monday a break occurred at Myrtle Grove Plantation, below
Of which American
.
....
i.
46,000
3,000
3,000
37,000
4,000
53,000
bales
Forwarded
Total stock— Estimated
Of which American— Estim'd
Total Import of the week
Of which American
....
New
sis'
l4®932
Liverpool. By cable from Liverpool we have the following
statement of the week's sales, stocks, &c., at that port.
Sales of the
or
e.
.
indirect..!*.
The foregoing shows that there has been exported from the
United Kingdom during the six months 597,'<16,000 lbs.
lbs. last year,
'is
indireot.c.
Amst'd'm, steam
Do
'a
indirect, e.
Do via
Do
"si
e.
Beval, steam
413,716
447,120
356.192
Tuee.
»3a
Hamburg, eteam.e.
Lbs.
100,837
101,889
92,278
October
November...
December...
Ifon.
'«4
e.
sail
Bremen, steam
000« omUted.
Balur.
[Averpool, steam d.
Do late deUv'y.d.
1156000
911,000
113,000
83,000
134,000
60,000
April
W.April 18 April
24,000
2,000
20,000
6.000
62,000
,149,000
910,000
60,000
52,000
165,000
53,000
25.
91,000
72,000
5,000
3,000
6,000
5,000
67,000
53,000
9,000
8,000
83.000
87,000
1,112,000 1,111,000
858,000
840,000
56,000
95,000
25,000
51,000
170,000
146,000
45,000
45.000
* Loss 15,000 bales Egyptian.
and the same day the levee protecting the town
The tone of the Liverpool market for spots and futures each
at Bayou Sara gave way. The mo3t serious disaster recorded
day of the week ending AprU 25, and the daily closing prices
of late came, however, on the morning of the 22d the old
of spot cotton, have been as follows:
Morganza Dike in Point Coupee Parish (said to be the most
important levee on the river) broke, overflowing the sugar belt
Spot.
Saturday Honday. Tuesday. Wednet. Thurtd'y. tyiday.
of the State and entailing great damage. Two other crevasses
Fair
Fair
Fair
Market,
In buyers' Harden*K
bDftlness
buslnea*
occurred the same day in Point Coupee Parish, at Riche Plan- 1:46 p. M.)(
favor.
tendency. business
doing.
doing.
doing.
tation and the Taylor levee.
Orleans,
;
In addition to the above, Tuesday's list of disasters included
breaks near Gardere, in East Baton Rouge Parish the protection levee at VidaUa and the Amaudlia levee, near that,
town ; the Lake Concordia levee, in Concordia Parish at St.
Maurice, eight miles below Morganza, and at Borbey's Landing, near the junction of the Mississippi and Atchafalaya
rivers. Wednesday night four new crevasses were reported
from points in Point Coupee Parish. Altogether there are at
this writing some twenty breaks in the levees in the State of
;
;
Mld.Upl'd8.
Bales
Spec.
Market,
4 p.
H
.
2,128....8eivia, l,493....Utopla, 907. ...Victoria, 1,088.. 13,974
To Hull, per steamer Salerno, 723
733
To
To
To
To
Havre, per steamer La Gascogne, 750
Hamburg, per steamer Bobemia, 300
Antwerp, per 8te»m^^ Frie.sland, 1,636
Genoa, per steamer Stura, 359
New Orlbans—To Livernool, per steamers City of Lincoln,
<),283.... Texan, 3,25"0
To Havre, per steamer Bordeaux, 5,068
To Antwerp, per steamer Bordeaux, 199
Qalveston— To Vtra Cruz, per steamer Whitney, 54,
Savannah— To Gottenburg, per baric Finlaud, 1,825
NOKFOLK— To Liverpool, per steamer Endeavor, 3,953
Boston— To Liverpool, per steamers Micliigau, 286
Soytbia,
832
„
Baltimore— ro Liverpool, per steamers Alicia, 2,374
Yorkshire, 759
To Brtmeu. per steamers Karlsiube, 2.841... Weser, 1,541.
To Rotterdam, per steamer Handel. 200
To Antwerp, per steamer Orpingtou, 100
PHII.ADELPU1A—To Liverpool, per steamer Ohio, 2,182
75o
300
1,636
Firm
at an
Firm at
Quiet at
Firm at
Firm at
Firm at
1-64 ad-
1-84 de-
2-64 (9 3-64
cline.
partially
1-84 dec.
1-64 ad-
vance.
vance.
advance.
Steady.
Steady.
Stewly.
Firm.
Quiet but
Easy.
Uplands,
Op«n HiQh Low
d.
A.
617
April
April-May.. 8 17
May-June.. 8 20
Bremen dam
Kew
York. 13,974
9,535
K. Orleans
d,-
723
Bavre.
760
Hamburg.
300
5,068
1,825
3,953
1,168
3,133
4,382
200
100
2,182
617 618
6 18
6 17
620 820
Oalveston..
Norfolk....
54
3,13'i
Philadelp'a
2,182
Total
33,895
4.382
1,823
3,953
1,118
7.815
2,182
1,825
413 49,491
300
723 5,818 4,682 2,136
54
1,825
3,953
1,118
Boston ....
Baltimore
8 21
8 18
6 20
6 21
828
.
6 23
til.
Open
H<fffi
Low.
Olot.
(L
d.
iL
d.
618 6 10 618 819
618 619 618 6 19
620 6 21 6 20 6 21
6 21
8 22
8 21
6 22
623 624 623 6 24
623 6 24 6 23 6 24
8 21
6 21
6 21
5 63
5 54
5 51
8 21
5 63
6 21
6 21
5 82
554
554
5 51
5 61
5 60
5 51
6 61
6 22
6 22
6 00
5 65
5 62
6 62
6 21
6 21
662
5.'>4
6 51
5 51
6 22
6 22
8 00
5 56
5 52
5 52
Taea., Apr.
,
'.jit.
Open B^Ql Lovi. OUu,
d.
d.
d.
818 618 6 18
8 18 618 618
6 18 619 618
620 6 20 620
6 21
6 22
6 21
6 20
8 20
5 61
5 53
6 61
6 22
6 20
d.
6
IS
618
610
620
6 21
6 21
6 22
6 22
620
620 6 20
620
6 20
6 63
5 82
6 61
563
563
663
5 61
5 60
6 61
660 560 560
5
50
Wednea., Apr.-^S. Tlmra., Apr.
Uloa.
Open
d.
d.
d.
620
6 21
6 21
Open Bigh Lovj
d.
d.
6 20
April
April-May.. 8 20
May-June.. 6 31
June- July.. 6 22
8 83
July-Aug
August. ... 6 24
6 21
6 21
8 23
6 33
6 25
8 25
Aug.-Sept.. 8 22
623
.
6 20
821
8 22
8 23
6 24
6 22
8 22
8 25
825
6 23
6 23
663 600 663 600
Oot.-Noy.... 564 666 654 6 56
Nov.-Dec... 5 52 653 5 53 5 53
8ept.-0ct...
Dec.- Jan...
6 51
5 62
5 51
6 52
HW
Low.
'24.
Apr. 25.
Fri..
Olot. ,Opei
B^Qh Lov.
d.
d.
d.
d.
622 6 23
6 22
623
6 27
627 6 28
22 8 23
6 23 6 24
6 26 6 25
6 28 6 26
6 26 6 27
824 8 25
8 24 625
SCO 6 01
656 6 57
822
8 23
8 21
6 27
6 27
6 27
8 3J
6 30
6
6
6
6
6
23
25
26
26
625
626
6 34
6 27
6 33
8 25
600
6 01
624
6 66
5 57
563 554 6 53 5 64
6 53 663 653 5 53
d.
628
628 629
6 31
6 28
628 628
6 04 6 05
6 60 560
6 53 568
6 57 55S
Cloe,
d.
6
2&
6 26
6 28
6 27
6 27
6
6
6
6
6
6
29
29
27
27
03
5 59
6 67
656
627
6 28
e
•
628
604
560
5 57
6 67
Genoa
it
AnI- Gotten- * Tern
werp. burg. Crius.
Total.
1,636
359 17,742
199
14,802
Savannah
Olof.
Mob., Apr.
d.
8 18
June-July.. 621 8 21
6 22 623
Jnly-Aug
August .... 8 23 6 23
Aug.-Sept.. 8 21 6 21
September. 6 21 8 21
Sept.-Oct... 5 83 563
Oct.-Nov... 5 54 5 54
Nov.-Dec... 5 51 5 51
Dec-Jan... 6 60 5 61
199
54
Rolter-
Hull.
steady.
Low Middling clause, unless otherwise stated
»ai.. Apr. 19.
9,535
5,068
The particulars of these shipments, arranged in our usual
ftrm, are as follows:
pool,
12,000
1,500
359
49,491
Liver-
6!%
12,000
1,000
advance.
September. 6 22 6 23
Totm
6Bia
10,000
1,000
The opening, highest, lowest and closing prices of futures at
Liverpool for each day are given below. Prices are on the
In consequence of the heavy and continuous rains in Texas,
the rivers and bayous are very high, and travel is delayed.
Shipping News.— The exports of cotton from the United
States the past week, as per latest mail returns, have reached
49,491 bales. So far as the Southern ports are concerned these
are the same exports reported by telegraph and published in
the Chronicle last Friday. With regard to New York w€
include the manifests of all vessels cleared up to Thursday.
Total baUt
Ksw York—To Liverpool, per steamers City of Berlin. 1.734
Cuflc, 1,540
Germanic, 1,654
Mount Hebron,
1,707
Nevada, 1,498... Osmanli. 225
St. MarDock,
6B,a
8,000
1,000
Futures.
Market,
1:45 P. K.
basis of
Louisiana.
6T,8
66,8
10,000
1,000
66l8
10,000
& exp. l,OfO
BREADSTUFF S.
FRIDAY. P. M., April 25, 1890.
The market has been dull for flour and meal, with an unsetNominal quotations show little ohaoge, but ia
tled demand.
actual values paid there has been some irregularity. Holders have not been inclined to press sales, but bids were re-
Apbil
duced
in
THE
26, 1890.]
moat
caaes,
and where buBinesa was done
To-day the market was
at easier prices.
dull,
699
CHB,ONICT.K
it
was
although hold-
were more inclined to make concessions.
The wheat market has been very uneettled— subject largely
to speculative manipulations and yet influenced to no little
ers
Tne exports from Che several seaboard porta for the week
^niing April 19, 1890, are shown in the annexed statement
fsportv
Oom.
Wluat.
Hour.
OaU.
By*.
real.
—
Buth
Buih
BbtM.
Hugh.
Butt,.
Buth.
5,280
77.585 284.847
33,439
BTewYork 410,982 680,513
717
46,.503
60,«09
extent by reports regarding crop prospects not only in this Boston.
65,406
814
3,750
Portland.
country but in Europe. The silver question has also been Montreal.
.....
9.242
•>«•
17.558,1.288,185
among the influences at work. The export demand has been Philadel
88.67«
20,000
••••
Baltim're
32,000 1,0;?9,456
less active, and yet some business has been done for export, N. Orl'nt.
835
1.055
•>•••
352,222
28,665
172,789
N.News..
14.209
including on Tuesday No. 2 Chicago spring at 96J^c., deliv- aiohm'd
ered, and on Thursday choice No. 2 spring at 98>ic. The
33,439
70,636
Tot. week.
474,«09 3,392.100 252,300 310,369
milling demand has been more active than last week, and S'lne time
23,564
7,210
149,625
1889...
217,191 1,853,778
To-day
sales embrace No. 2 red Detroit at a7ig@97%c.
The visible supply of grain, comprising the stocks in granary
the market was firmer, shippers taking 86,000 bushels, inclu<land seaboard
ing No. 2 red winter for export at 96^^c., f.o.b. There was at the principal points of accumul ition at lake
porta, and in transit by water, April 19, 1890:
als) a good demand from city milleis, who bought choice
BariM,
OaU,
RTAsot,
Com,
bvuik.
fttuA.
buth,
spring at 9Hc. c.f.i.
bitth.
butk.
In $lor» at—
56.059
29.207
201,682
New
York
1,474.985
261,493
BBD
wnriBB
WBBAl,
0I.OBIM0
PBIOBS
OF
MO,
OAILT
8.300
Do
aOoat..
18,000
Fn. Albany
Kon.
Tua. Wed. fkurt.
Sat.
10.400
48,^00
53.900
80.800
95'i8
96J4
95
Hay delivery
0.
941s
50,949 140.761
385,376 136.5^1
Bdffalo
708.278
93
93''8
93''8
-8
91'8
June delivery
93%
o.
162.256
57»<. 130
4,15'J,B59 6,«09,344 l,022,x96
iloago
C
9-2a8
93 14
9. >s Milwaukee
July delivery
91^
92%
0. 93
119,083
700
56,381
614,196
90«8
91
90%
90
August delivery
SB's
c. 9078
915,678 1,244,550
Dalutb
6,073.181
90^8
8i)«g
SO
89 Og
September delivery ....o. 90 4t
90%
73,000
Do afloat...
92
December delivery
o. 92^8
92%
91\
1,753
10,745
248,012
19,731
770,193
Toledo
2,490
2,25S
22.793
191,361
7,035
Indian corn for prompt delivery was decidedly higher Detroit
125,000
2,^,000
.
60,000
Os*ego
'7,129
early in the week, owing to comparative scarcity and an St. LoulB
19.569
9bl,!i76
43.913
549,493
48.000
4.000
20,000
urgent demand to complete cargoes. No. 2 mixed on Tues- Cinolnnatl
6.643
25 837
12,977
235.400
5,907
.
.
1
.
1
Boston
day and Wednesday brought 46(a46J^c. afloat, an advance of Foronto
Uontreal
more than He. a bushel from the lowest figure of the season. Philadelphia...
Speculation sympathized to some extent with the spot Peoria..
Indianapolis...
market but prices weakened yesterday, under free offer- Baltimore
lUiineapolls
ings for prompt arrival, and to-day there was some further St Paul
66,053
46,172 1,928.851
15.921
8,914
14,000
23,439
335.315 1,168,334
140,575
7,451,319
290,000
123,281
66.167
798,199 4,595,292
183,fi95
;
On
decline,
DAI1.T
Msy
OUMIHO PBIOEB OF
delivery
0.
c.
0.
June delivery
July delivery
RO. 3
MIXBD
Bat.
Xon.
Tuet.
Wtd.
TAurf.
401a
40^
40%
4(;^
40%
40%
40%
<0%
40%
40%
FYi.
40
40
4OI3
4078
41
4078
buoyant to the close of Wednesday's
41
41
Mississippi.
On Lakes
OOBII.
Oats were active aud
There was a good export business in white grades,
of which about 300,000 bushels were taken, pari for London.
But the market weakened yesterday, und was again lower
1.075
157,031
24.513.272 17.855.506
26.14J,63i) 20,525,781
26.989.678 14,i)14,!i63
32.633.418 8,188.223
48,674,814 19,2.42,642
Tot. Apl. 19.'90.
Tot. Ai>r. 12,'90.
rot. Apl. 20.'89.
Tot Apl. 21.'88.
Tot. Apl. 23,'87.
97.598
65,542
73.938
143.223
108.U06
74,721
48;obo
391,679
9.291
94,777
104,437
88,191
33441
i;863
ioii's'i
133,740
25,000
3.820,624 1,046.488 911.270
4,488,850 1,340.816 1,052,602
6.769,297 1.401,850 939,460
3,373,095 314,440 1,090,166
961,512
4,417,944 358,611
business.
an unsettled feeling.
DULT ouNona pbicbs of
to-day, with
May delivery
0.
0.
June delivery
3o%
Sm
29'e
3014
mxBu
ho. 2
Mnn.
Sai.
oats,
Wed. Thur$.
31i«
31
30ia
30
Tun.
31%
3014
Fri.
30^8
29'8
some business for export on
Tuesday at 61@62c. for prime qualities, delivered; but the
Barley is about done for
market is laterly dull and weak.
the season, and nearly nominal.
The following are closing quotations for wheat flour in
barrels. (Corresponding grades in sacks sell slightly below
dearer, with
Rye has been
these figurts)
FLOUR.
25« 2 55 City sblpping, extras.
2 G09 3 05 Rye flour, superfine..
3 20® 3 80
Fine
3 4031 4 10 Cum meal4 00» 4 80
Western, 4o
4 7o» 5 50
Brandy wine
OBAW.
2
Baperflne
Extra, No. 1
Clears
eiralgbts
Patent, spring
Wheat-
0.
Spring, per buBli...
Spring No. 2
Red winter No. 2 ..
Red winter
Wliite
Oorji—
West'n mixed
West's mixed No.2.
Western yello w
Western wUte
The movement
Rye-
0.
— «ttlOl
—
85
96
HO
85
•SH
42
40
40
»
9
a
«
a
a
9
97 14
98
98
43
42 ii
43
43
Western.. » bu
State and Jersey
Oats-Mlxed
4 409 4 45
3 109 3 25
2 759 2 85
2 35(> 2 40
2 459
e.
54
54
.
9
«
331a »
34 9
34149
No. 2 white
34^9
48 9
53 9
65 9
2-rowed State
4-ruwed State
Canada
of breadstuffs to
market
is
.
.•i9ia
fiO
3fi
40
H.-iM
3fi
51
56
72
indicated in tht
•
FUmr.
Wheat.
•
Corn.
jaut.liwuu BiM*.60Uu Buthfidit
Ohleaco
8M.«i:i
106.438
1,167,277
MUwaoke^
77,704
16,S1S
62.050
19.170
Dnlath.
MmneapoUs.
Toledo
1,747
Datrolt..
8,ai5
OaU.
i)luk.S2lh>
905.062
60,0 '11
5.179
Bartn.
Avi
BUMK*Hlh Bu. 56
210.117
159,088
lb>
83.689
18,760
«n,4«0
14,Sfl3
614.570
86,888
4S.6ia
S95.W17
1,800
18.402
10.212
7.838
B7.I00
8.3SB
I3.MW
3.300
0,302
88.0H0
M.lOO
3.2:6
28.690
132.t»50
771.690
65.400
159.075
l,36u
21.430
224,400
315,0(>0
'«0.
itts.atu
1,188,582
2,685.283
1,619,9^8
488,155
Same «k.>89.
Same wk.'86.
IB2,S47
U44.II4
1,886,800
i,2rto,ao)
26B,:(»4
«2.084
34.609
271.132
1,820.909
910,464
l,3iB,»»8
241.191
n.ar.
.
Olaveland.
Bt. Louts
..
PeorU
Pouirk.
«n«
Aug.
1.
i88»-eo....
8.W 1.804
64.219,181
23,000.800
4,902,603
I8e8.«»....
veea-ee....
7,17»/S7»
78,39«,478
89,507,853
61.499.860
83.602,319
4,278,689
».0Se,04')
90.840.783
M.383,665
64,927344
21.5S0.47;
1,865,876
101,0»7,;i46 13^,118,790
make
not
Domestic woolen goods ruled quiet, and
there was only a slight improvement in the demand for imported fabrics at first hands. The eminent jobbing house of
H, B. Clafiiu & Co. the largest of its class in the world is
about being organized as a corporation under the title of
the H. B. Claflin Company, with a capital of $9,00'>,000. This
great bouse will be conducted under the same management
as for about five years past, and under the same departmental supervision hence th- success of the new organization
can hardly be considered a matter of doubt.
probably
Statement below, prepared by us from the figures of the New
York Produce Exchange. We first give the receipts at West
ern lake and river ports, arranged ao as to present the com
parative movement for the week ending April 19, 1890, anri
since Auttust 1, 1889. for each of the last throe vears:
StMipta ot-
NBW YOKE, Friday P. M., April 25, 189%
The week under review has developed a better feeling in
the wholesale branchts of the dry goods trade, and some increase in the volume of business was experienced by commission houses, importers and jobbers alike. The weather was
spring-like and favorable for retailers in wide sections of the
country, and such large quantities of seasonable goods were
taken by actual consumers that the re-order demand by the
former was of very fair proportions. Business in commission
circles was irregular.
Domestic cotton goods have attracted
rather more atti ntion, owing to the upward tendency of the
staple and because of the exceptionally small stocks of manufactured goods on hand, and while there was no material increase in the volume of business in this connection, it is evident that prices have touched bottom, and shrewd buyers will
liberal provision for the fall trade in the
far distant future.
White
No. 2 mixed
Barley-
THE DRY GOODS TRADE.
—
—
—
Domestic
Woolkh
Goods.— Business
in
men's- wear
woolens continued light and unsatisfactory, the demand at
first hands having been chiefly for small parcels of specialties
required by the clothing trade for the renewal of assortments.
Stocks of both heavy and light-weight cassimeres and worsted
suitings are so well in hand that prices remain stealy on such
makes as govern the market, and kerseys, black and colored
beavers and meltons are under the control of orders for some
time to come, but very little improvement in the demand lor
rough-faced overcoatings can be report d. Cloakings, stock*
inets and Jersey cloths were in moderate request and prices
remain steady. Sai inets were quiet in demand but fairly
active in movemeat. and there was a moderate business in
the best makes of doeskin jeans, while low and medium grade
Kentucky jeans ruled quiet in first handii. Wool and worsted
dress goods were in rather better demand for next season, and
there was u light and irregular business in flannels, blankets
and carpets.
OoMESTio Ck)TTON Goods.— The exports of cotton goods
from this port for the week ending April 32 were 5,223
pcicksges, valued at |375,320, their destination being to the
points Bjiecified in the table below:
THE CHRONICLE
600
Sbw York
1890.
1889.
to Ai-kilSS.
Vttk. StnetJan. I
72
Great Britain
Other EiiropeHD.,
India
764
98
1,853
10,731
1,039
1,879
6
16,322
2,494
2,109
1,468
5.466
1,260
1.697
13,081
1,136
538
'"soo
2.412
Africa
Westlndlee
327
76
156
757
35
Ifezloo
Central America..
Boath America...,
Other countries. .
Total
China, v;a Vancouver.
5,222
5,222
T.,fal
"
3,102
1,657
1,570
,
Arabia
*
262
25
8,986
1,276
2,733
3,659
6,445
17
1.070
OUna
From New
Week. Since Jan.
592
319
805
24
649
30
39,594
11,058
5,754
50,652
5,754
1.
for the corresponding periods of last year are as follows
SE
g:
S;
b:
B:
48,627
25.990
:
1
g:
I
8;
b:
:
:
74,617
January
since
S;
:
i:
:
:
:
:
:
:
:
9fOCD
WO
OQO
The value of the New York exports
L.
Importations of Drr Hooin.
The importations of dry goods at this port for the T/eek
ending April 34, 1890, and since Jan. 1, and the same facts
Enicland mill points direct.
been f 3,3l5,:n5 in
[«»
CO Of to
- tn
O' to
have
C^i^
1890, against $3,834,544 in 1889.
H* to OS taw
to
Oico^sao
OCifk.
CCCO
The demand for staple cotton goods by wholesale buyers
was steady, but moderate, and the jobbing trade was by no
means active but there is a much firmer feeling in the
market, and a brisk demand in the near future is expected
by the shrewdc-st mill agenls. Stocks of plain and colored
cottons are not redundant co'ton is steadily advancing, and
a somewhat higher market for certain descriptions may be
expected as soon as jobbers and the manufacturing trade
begin operations for next fall. Prints ruled quiet, but some
large ''blocks" of ginghams were closed out by jobbers at
relatively low prices. Print cloths were in moderate demand
and dearer. 64x64 "spots" having advanced to 3 5- 10c. plus 1
per cent, 64x64 " futures " to 8%c. and 56x608 to 8c.
MtOtOlOCO
<0 •* -'I *1 CO
OP to 00 oa 01
•^i^COtOi^
oo
O CO GO
I
I
COtOMtOW
cO:n
0*00
<ICl05OO
B;
;
:
l^COIOOOO
p^»-'*-pOi--«B
CO 00
lorOODMCJ
tocccoos;:H
WCO-^O&h
Oa'£>COOOO
OM-JO*-
«»oacoto«»
05OO<B-3
;
(0
to
MtOwVot
CO
1889
1890.
A.pril \9'.
Providence speculators
Outside speculators (est)
April 21.
30,000
35.000
None.
6,000
37,000
ll,iiOO
None.
5,000
414,000
Total stock (pieces)
1888
April 20.
369,000
30,000
None.
15,000
53.000
71.000
Foreign Dry Goods.— The fine weather which prevailed
during the greater part of the week was the incentive to
liberal purchases on the part of consumers, and there was
consequently a somewhat improved demand for re-aasoitments
of seasonable goods at the hands of importers and jobbers,
but actual business in the wholesale branches was only moderate.
The auction rooms were well patronized, but most of
the goods disposed of through their medium brought relatively
low
tot-
o» <l
Turner
M
K}
MO rf^MMICCO
o »Q0 M^QO^M
M
IB
00
COS
-JM
*J
ta
.I<0
IN
DUCK
SAIL
AND ALL KJNDB OF
COTTON CANVAS FBLTING DUCK
CAR COVBRINO, BAGGING
RAVENS DUCK, 9AII, TWINB8, Ac.
"ONTARIO" 8KAMI,K88 BAGS
STRIPES.
ODU
itoek.
all
Widths and Colors, always
u MM
WM
w
00
M
lO
»t9 u>mw»o
w MO OSOaOWA
Occ if-qiooo-i
a>9>
o<»»ow
16
&
Wisner,
New York
18 Exctaauce Place,
COMIHISSIOJW IHEKCUANTS,
Members of tbe Cotton,
Coffee
and Prodooe Hxob'i
AOBNOT OF
THE HAXALL CREN8UAW
RICHMOND. VA.
OBIENT GUAMO MANUFACX'tt
OBIBNT.
L.
CO..
1.
Standard Superphosphates.
8ULPUUR MINES COMPAMt
OF VIRGINIA.
High Grade
Pyrites, free
from Arsenic
Dennis Perkins
&
Co.,
COTTON BROKEBS,
Pearl Street.
New
wo
MtOM*»
OOD
cDo1-«y«'^
^rf»-a)coo
Bshbt
11 »
&
prompM
Gzo. Cnpeland
Co.
6c
OOTTOH BBOKEB8,
Sf^SBT, NSW YORK..
->)
to CO to
lO
OS
a
juo>aoop
"to
V cot; to
ODMOD-^QDW
<i to bi
o'm
tOrf^OCCtO
to OS O* CO CO
To the Holder* of the
Co..
Six Per Cent Trust
ol
and
Bonds
the
Louisville &> Nashville
Railroad Company.
sal*
Offick of the
1
LomsviLLB * Nashville RR. Co.,
50 AND S2 EXCHANOB PLACE,
New York, Jan. 88, 1890.
hereby ^ven, pursuant to a piOTWlonooutalned lo the trust bonds of the LoatsTllle & Nashville Railroad Company, dated
March 1, 1882, secured by mortgage to Edward
H. Qreen and John A. Stewart of same date,
niider which bonds \ia the amount of Ten
HlllloD Dollars were originally Issued, which
are outstanding except so far as redeemed by
Sinldng Fund, that the Louisville & Nashville
Railroad Company hereby avails of the provtslon In said bonds to redeem the same at 10
per cent premium (110), and that the same
will be paid at such rate, with a«orued interest,
at the oflice of the company, 52 Exchange
Place, New York, on Hay 1, 1890, at whlok
date Interest on said bonds wUl cease.
This notice la given and advertised for three
months, pursuant to tbe provisions In said
Notice
\
H. wu<itj.iH
Wheeler,
IHAIUEN liAME.
NEW YORK.
Cotton and Bagging CommlMlon
Mercliants.
IMPOKTER8 OF IRON COTTON
CO
-q
f'^inattcial.
TIBM.
Is
bonds.
BSTABLISHED
1866.
IX)UI8VILLE & NASHTILLE RAILROAD CO.
By EX. NORTON, President.
Euipene Ke Cole.
UTATIONKR
VND PRINTKR.
Bapplles Banks, Bankers, Hiook Brokers ana Ooi << •
rations with oomplete outdts of Aooount Books af /
Stationer;
New ounearns orKanlsiuv wUI liaT* tHair orilei
oromptlT 4Vf"<uted.
UNION MUTUAL
iV
!Vo. 1
WILLIAM STREET,
Life
'HANCVSH HUKAKBI.
Insurance Company
PORTLAND, mAINE.
INCOHPO RATED
Tork.
Orders for Spot Cotton and Futures
executed.
19« PKAIIIU
BuUard
CO.,
Standard Brands of Flour for Shipment to Wari,
Climates always on hand.j|
l!lg
COCfrtOtOCO
VjyiooMtO
** 1^ 0- --J «
viQoooauo
and BLEACHED 8UIKTINU
and HUEKTINGH.I
Bollakd.
MACS
to CO
re
aj-'i-'yii^
00 CR
K. -) tn **
&
L.
co;i
CC ^OtO -OtO
Drill; Uneetinai, Ac., tor Fxport Trwit
&
oo|
v>oou«o
MM
too:xp*>>
&
aOMOOOK..*
boMcoViw
Cff
toco
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to QO to to 00
-to
1
to^
MODCOUi®
OA
K- to 01
OM9COCO
(KtOtOOSl^
Bliss, Fabyan
Co.,
MEW YORK, HUHTON, PBILA OKI.,Pai
John
M^WOOO
MMO.WIO
»(*
PRINTS. DENIMS, TICKS, DD0K8. »r.
Towels, Quilts, White IJaoda and Hoalerv
No. 109 Duane Street.
Crenshaw
<xoua>e
if^-OOO
^oto^»-
MM^lColt..
Special attention glren to the purchase
of Cotton for future delivery.
li
COM
OtO to to *»
coot
OC<l
COTTON EXCHANGE BUILDING,
New York.
BKOWN
ONITED HTATKti BUNTIMU OO.
it^COOtOCd
CO to OS
<3V
»M»WM
00.0)^l».
BILLING AOKNT8 rOB LlAOINO BKANDB
ALSO, AOKNTB
supply,
<J©
1-if-jimo
TDCBiyi^M
giQO
Baily
00 V: "to
'ViCO
WM
u
^ — WCO^-J
00 M
otoa
COMMISSION MEBCHANTB.
Co.,
"AWNING"
W.
Geo
rf^OO
O»-t0t0i-'
Commercial.
HANGFACTURBRS AND DEALEKS
COTTON
OP OP to OP OP
too^-^-iw
COOCOODi^
1^00
h-CO
OtK
t-t
CComnifrclal.
A full
to^
X C CO
OOQOOaCD
&
tO'J-
to CO 00 00 iF^
(-•K-WXOi
M0DaO<)P*
ooc'toki^
prices.
BrinckerholT,
oc;tcoMW
coooco<:;iQb
CD
aioek or Print Ololhs—
QOW^OSM
osVM'ba
obo
oco
Mr-tOOtO
;
Held by Pfovlrtenoe manor ers
Fall River manulacturers
H"
01
ccwrf>>o»p
OM
JOHN
STEEL PENS.
GOLD MEOAL,
MAINE LAW CONVERTIBLE POLICY. CLASS
Its 7 PER CENT UUARANTEED BOND
"A," or
Paris exposition, 1889.
THE MOST PEBFSIT OF PENS.
l«i4S.
DE WITT,
Presldenl.
lU plant are varied and adapted to ail circwni3tan£9h.
There Is nothing In Life Insurance which It does
not fnrniali cheaply, profitably and IntelUeibly.
flend to the Company's Home UfBce, Portland, Me,
or any of its Agents for publications describing its
JOSEPH 6ILL0TT'S
E.
I
POLICY, CLASS "A," and other
i"i)r;M o/ Bond
PolUiet; also for pamphlet explanatory of the
Statnt Son-ForleitnTe^Lav), and lor llst^ofT
paid tbereonder.
@FedFRASER