Full text of Commercial and Financial Chronicle : April 4, 1896, Vol. 62, No. 1606

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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C L E A R IN G H O U SE RETU RN S.
F o r the m on th o f M arch and th e three m on th s the ex h ib it
is as fo llo w s :

P.Cfc!

%

ISPS.

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Bui tim o r e . ,,..

IS36.

%

*•3 * 7.SU.HSI 99+ e,m ,*t 4.fl£7 j fu*e
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+:c«
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lid§lM
Pittsburg.*. *..[
*■l«*0f UHUMIM111 w.dffi. #,4«.5i-4-IS’**
B altim ore......
tof +J*f
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7.79%
’ »
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W m htog%&&>■■!
«+«>+
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suiktu —» 2l
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W ilm ington. .i
:
'vm ,p
At*
Binghamton..
i.dai.006,
-Nhi{ n a m in ' #41 7JWJMST H-ltrpi
Total MI4AI©f£
Bo i ton.,.,,....: MKMMi, dual
l/m STf.l \n f r #
Fro’ri<le<ic*,.,
|dMlB»JK)0i ~S'0
ismat m%ii|
Hart ford......
s i .®7 aisJ-H*3
P\O09l 7?
Mew Haven,.,J
5.4SM/U©
(i
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&prtw&9l<$.....
lT*W Nlf -^ft
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Portland--4 M jia i
Fall R lw ,,...,
S+SIMsW-'
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r«!
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Lowed .........
t»Tt8Uls?
13 1! _ V i *.a:n
fSfeF“«
<
1.6M.IH
If#* Bedford,?
■i*4 iit 7t. fi # ^ 4 1,744^14 «#] 4*s"lT otal K . Kts* ©liuafttfo? 1 •I
Philadelphia..

OttWIL

©lewetaad___ M il** a it**....
Ootoafthea ...

*<5$.7.*7,37lf ~4*if
4&&0SM8«I w$*M
S O # M41{ 21,7 1 1 ^ 4 —k «
i u i i *4 Vi 3 JP* > 1«

Akron. ...
Bar c i i f . !

IS
S»7FI»SWf
++||i232
+2 «.?:»•
MiKied!
M m jn of
U t« *++

Sprliigleld,.,,. J

4* 1X 711

T 0 t K .W « i .i

8*j.58koS7‘

19&tmmmpolt§#.,
reoria
®f*o4 Raefda,
t+y«i»gto©....

Ran rrapeiaeoJ
Salt Lake Ctiyi

Portland*. ...si
JLm Angela©..
Taaofla*.j
8*aUi©r.„. ,,.J
npoifcrtrt#,.,.... J
Fargo.
|

mn.mm

ftffjSAfe

•
e>.sw*,#80i
5.1 7^?. >73'-

t.s

O w lft... ....
U. Paul... .
D#a»#r.. .
it. Jomph ...
pm Moinm . .
Hoax City ,
Lincola _____
Tnp«kn-.........
FiflWi*..,, ..
Frtmont......
BttMjstm**....
T ot,oto*r w .

#f»||

ArtSH. irtTf -*ifo
t,#t*i -Hfrt

+o*7 t.M3.6»'2.r6»; ut.jn^to,

*f*-3

______

IM
*♦«!
14^ 70,2 *-• ri:»
**P"
-7 *
<UWI/PI! ~A ‘>
AiSe.itif
4.377.842 ♦22*<1
»*4RI3gj ■*■*>*

2*M23,3«7

333#Q)Ai5sj 7 ' »

i M p t 4#*s
*.W,*JtS rlP-i
*47*1
-9 l

^M^J¥S\

110,370,1711 * 7*8

®-«,Tf47 '-5« 1 W
4«t*3:i .iis
r 187
%&,%?&.9*6 , 4-S-0
18,484843, —'5*<1
M&mM —l'#
*+*rt

'24.nm.9 ml
I8 .fl M M !

it
i
9 fr,n«i
isrt^i Mi?i I m ;r*i

it. Loaif,......
N#w Orices*..
Lonlfrlllc^....
Q>nitm%on...r,
Momton ......
Ovttmimk., . .
Richmond ....
M fsoftifc......
Atlanta ......
D&R** .........
Hrnghvmv,,,*.

Birtglijimtoii,. . ..
T otal M id d le ,.,..

B o s t o n ..,.,. . . . . . . .

Pro#hleac#........
f-L irtford .,,. . . . . . .
N«w fl*v©n........

Spring!!©!*!,. . . . . . .

Woroe*t#r*.
Portland...........
Fall H irer.. . . . . . .
Lowell .
New B e d fo rd ,..,..
Total New B o#..

Chicago.............
CinetnnaU,.,. . ... ..
Detroit.....
H e r eland. - . . . . . . .

Colsimba#,..... ... .

I.?nl ia(tft£Hilia . . ... ..
Peoria..,..... .........
lim m i liap ld *...,..

D ayton **.,...,,, ..

1.805.

isx m .im 4tt3.tll.889
fW.2vO.Rfl
5B.2» $.mi
X«,005,16 ■ 12. l5»V*e
u m i,s 10} U.rtS5B59
3.565,611
-5,4«6, ISA
M 3f“
.0.2““.' I'
i.a&rtt437
M
LiSL.iH*
L-ni,p:p
8t".F7t
M3,> 0
♦m
rtit.dPd!
7l8,<
_____
57», 177*193 m ajm m *
75.719.
1,86)8.310

tsm ^ n
L5234.57S
8 *4,035!

Port]and...........

Lc*« A aitel© *.,..,..
Helena,

Taeoea*............

S
e
a
t
**
Spnltao©. . . . . . . . . . .
F a rgo.....

Sioux

Total P a cific..,.

sCan«a* City.......
Minneapolis.,.....
Omaha...,.. . ......
St. P a n ! . . . . . . . . . . . ,

1,010,48#
S39.3 IS

4L..25t»85S

—r i
-e*#

L251,iNt>
6 *6.894

+3*3
-2 0
+28 0
+U8

-2 4

+ 18.6
- 7*5
+7 4
+ 9*7
+6 0
+4 l

tllo
tlij
S7.7o*,43s * S g i
7S
79.^ 7. 48»
10.3^,100
S,^,Crtl
i. m i i 5
4,7Sg.?S
M«LQ3 i
HI
3389+77
3> 0a « 7i
4*7+
S.i-7,5 «0
M l3 7**h|
1.009, #50 + 98*4
i ,m zm x
5*7
X,K>1.4«0 f
—IAN
27^.3 T
* «
t! 8,057
#fikT40|
US
156 013
2 *2,9 } l
~ ifl
330. UI
151.
1,230
8 Hi
. ^ ----«

173,odd

111,760,550
10,344 rtag
?*07 188
8 ;8 *78
1,08*3 488
170 DWt

£m iVW
OfW
m i -9

8 2*Oftl
78111

15.38l.8V3

IS.R 7.5*#
»*a
L03 W731
528,1*0
450 »2S
314.2,-8*4
9 I.2SS
80,621
17.010,384

IIS1U

081.1(2

87 A.-00
i •'! M>7i
l.:».- 16
1.W3 903
1.0if. WS

aiusw
(lua. .«

mi

SABM.lSb
n.;ao os
bu w i.t*
I 30.. 101

i 058,100
».#M* 920
1.230 158

LSMI.W.U
1.707.588

M S»
a s ja

10A.U17.2S©
O3.»2L 201

i f e

3..,«i ,2.«j
;«.» Tso
MW. o
orw.-rt

aj.. i 8

S

B
431,134

110,511
116.650

204.020
185.000

-19 ito,689,931

133,442,62$

—*4 4
t US

—if 2
-1 6 2
-2 0 i
tL
-T-i
+—1
i» ?U
+ 20+
+ 24*8
-U -l

0312,521
4.001 S56f
4, 143,6-10!
3.332.010

1,204 tm
hM.\o©7
733,0 IP
622 512
616 240
478+22
acli 328
72.+H
If 7.6(5

Il.OH'LiO
8 .ISB.MS

4.555 7*15

2,i'7',»,i.r 0
1 236 917
L0fT2ei
8S76H2
362 414
302 8 5
408,118
0?.3Dj

14.:•77.780
1 14*1 730
1.400 ;:«>:)
863.091
SOI 379
722.091
160 340

21,600.147
0.181,140
3,088,567

I K

1.260.280
1,008,985

a t jm

804,161

los.doo

28.484.707 ' 36,174.644
1H125,711
7 M.OJS5

27.100,7501

33H>PSi - 0*3 St. Louis.,.........
742,447. fira-

Hew Orloans» .. ... .

LonikkUI#..... .
*ralyeston.... ......
Ilooaton............
Sarannah...........

if t iis /.

R ichm ond,.., .. . . .

%2:u:m2

Atlanta..................
D a lla s .......... . . . .

S- M
NWKrW
{>07

Outside N, Fork

1 215.087

225,480
277,044

§t. loseph.........
Dw Moines.
Sion* Oily.........
L in co ln .. . . . . . . . . . .
Topeka.

Total all.........

U.S0T8 3
3.154,408

Li'- .062
V2R i ,
18 *i '-2

Deny o r . . . . . . . . . . . .

Nashsi.il©.. .....
Norfolk.............
Waco...... ...» .......
Fort W o r th ..,,.,,,.
Aagnsta. ....... ...
Birmingham......,,
L ittle R o c k .,..........
TacksonrlHn__ __
ChMf anrwiea,. *....,
Knoxrllio*
Total Southern.,

6'»,001,039
32 171,1U4

1803.
5S2 d*4.722
64,:f72.015

o
»
- l 2 m a n ,*
ossCais.3
7 i.w-.sa+ l* fl
*0.578,117

__ 90MSV

Tot. Mid. W«s#t*nSan Francueo.......
Salt Lake C ity .....

4 4 3,0 0

» jl!

- 1*7
—S*4
+22 «

L«0* .80
1.642(87
2.0O5.8IB
1.2f*2,87S
873.10?
X.rwfU3M
881,080

M 70.9 W?
■
47+ 708!

1,7(13.070
1,129 503

+ 078,6*3

300.701

1.276 603
859,360
760,340
001,497

ism

469,934

128.214
178,002

.000
,805

3

ssss
m ou

8 337,226
2,084 178

I I y^ rjm “ 6«3j 26l 86
779.913,389 1,019 009.476
351,090,731 “ iW T iJ& i

' W i &.310 P*li^W,«T6
089.702,0*5 F81.oa8.738
lS 4»55R,7.ii 8R3.ai0.89-.

1
1

334.H
i4i

. . .
SymciiiMs.........
8cmaEO%.—........
Wtimlnsffcoj#.*.

W ichita.............. .
Frem ont,
d.0rtl.3*'8t;-*t8-9 H a stin gs.............
T ot. other W est
2l*w

39i p
—0*1
mM lM U 3»eB33kPM —3*1
JlP.rtOCTM, f 18 “
*1.713.447* ;m.o*7.«#7i -psrti
.34.397.'4«6 2 M*S,7 n| +0 4
78,#73,07i —Pe
•BJHKM»7f - 4*8
—F0
0.9 ® ^ 3
4,»4 i J*8 < P.f«2,ft«! - 8*1
•S-5 38,l,»SSi- ” 4*t
8 J«I S4P!
27, 473,0-4*5 4*15*1
7,52m *4; H i t
9.7 lL8«e
P.414.478? HWf
80.5 8.701 —4*8
7M 7jm\ PUrOf
£>,87« ,r^
22.975.^ - f 2?'l
#-i&#i
M IT.OftS!
l 4<l 0 L3*#f -f.*3*7
$. 18w,IMi!
30 »o$m\ +i*i|
i 0,2§yru *ft©
f 0*4
4,231.T7# • AHllJMM} -H*V
--Hr7
4*S4tt0Jli: 4*3*7'
Norfolk
*.771. 4‘>8 i - 41*1
rrtI0,443j
18.0^2.11-3 -*28'S
W a c o ...,......!
* ,« W 7*
HJ2O.0 I4 19 0
3,f»48,rtW| —IS'I:
Fort Wortfe,.J
f ^*7
%$m,mII HU 11
A « # | t iit a .... S 3.93US03i
I,
841.07a
4.303,418
tift?4W»» flf'SS
L*$7^ 2f - 8*4
4,37fs0 irt -4*1
UUi& Rook... !
1.4*1
-SI
^aotaon-rRl-c..:
t *04 0031
Chattanoosra..!
V3«MM7if 21*«|
2 784 8*H3 +24**
Total 3 ersth, [ S4M 47.8SC 241 4+\#S&! + 1+1 773 4 7 usrsi 54-8 157 197 ■+rs
Total all...... t U i."i
.fill#4Sfi,8-M| +2 *3! 12-,»-8 05 MW| 7.8 IOm\ *M2
OVUM* N. Tilt, S1I^I3,8 *« 1
sifil M 6i ■m #41
f.l 8> *,38.
rontrcai,..,,.’ m.mnjmh 43 4« 4,0 k>!-f+ f! 121 4m 4(Ml 124 os* #40
orotsto .... .,| 2«,;278801i 22
+IT7* 87 919 toi i 70 “87 547 42.1*2
liuffa*
4,■*57,710
4 I74;hr»} ■
484*4i
W81« +ir$
U 772
13 ©M
'•! «.i 18i4#0
rissihCK. ....-I
i *3^e *» *:
V 717 579 +st*>*
It StO 404
LftiSa&OSUi
SM817C
*«L641> *•$*»
250 + w *
8 * VfMi
7
To#. Canada.
74,»S/*:t,»a * 71 >*.2 »9 P
•f
*45870 1‘Wi 230 184 7»8 +©*W
Far tsklr at eii*«rln*» t»y ttlsaraph ewe Fat© Hi t ,

J,

&a ffitl o
w ashlBgt0 * 1 ........

r i^ w L*>kinaiem
Ka.i
.......
lipjMAl^'lfii A A.Stroii.... . . . . . . . . . . .
Bay Pity,...........
l&T Book ford..,,.......
TWls *r'l S«’ftmg0#W*. Ohio..
#Uf #f *i—ft * Pawtoo.,. ..i. . -i..
%mh »7->!-*-2f» Toledo* . . . . . . . . . . . .

MMKIStliNli - F I
H r# I
nLfP+.mn*
SJ328*8®7| - 16*5)
L9 <£,©*)!" 16 11
M
+t*of
L<mjMoi f u 'j
: m,
m -MT *€*#

♦U *,7
APMrtS' *-®S «
*74 +W*

Stoak

Total Paeiftel
S#».*:*# City-,,

JuaaxjAMH-4( 4 1
t 7,m-£ ».»•«* —o
4*3-3

FFesk ending Manh 2S.
iRVO.
P. Cent-

(•.’/•irins, at—
Sew T o r ,— ........
PhUattelpui*....... .
P ittsburg...,,

’Three Month*.

MmmK
wm.

NO. 1,606.

The w eek ’s total l o r &U cities sh ow s a loss o f 1-4 per cen t
from 1893 .
T he e x -e-- o v e r 18SH is 11*5 per ce n t an i th e d e ­
clin e from 1893 is 14-7 p e r ce n t. O utside o f N ew Y o rk -th e d e­
crease com pa red w ith 1895 , is 0 9 per cen t, the g a la o v e r 1894
is 8-4 per cen t, and the loss from 1893 reaches 12-0 per cen t.

PINE STREET H. W. CORNER OF PEARL STREET, N. ¥.

OiaetoaafcL,...

n

SATURDAY, APRIL 4, 1896.
< £ h c a u ic lc ,

Chicago.,.,.,.,

r

D

. >f i^ o ,* .v ... in tue v v « ll'J S , by the W illia m B. D a s a C omi-a s v , in the olllce o f the Librarian o f Congress.]

VOL. 62.

H#w Fork, . —it

i i r i a

M o n treal......__
T o r o n to ,,......,,,

ftaUftHL ........ .
Winnipeg.. ...
Hamilton. ...

IOta! CaoarJa...

« 008,5331
S»S

3#AA*.t)'

JMTLrtoO

1Not Inciudod in totals.

8 848.W8
i,7W/.S’W
in ft 910
S<I|,B10
4<i:i.rLi

l ' ' -•

-6 1
+17 9
ilT 3

+{«-:+rvl

9 449.163
5,0131,868
1,<03,848
091,667
620.M2
Td.rtlO f &3

10,5L3 145
4,610,012
7S0.080
597,492

10.451 h«9

612

THE CHRONICLE.

TH E F IN A N C IA L SIT U A TIO N .
An event has transpired this week of a conspicuous
character which well illustrates the financial situation.
It was an investment affair. Bids were opened on
Thursday for an offering of $4,300,814 New York City
3 per cent gold bonds, and the total bids were found to
aggregate only $175,500. The operation shows very
fairly the state of the investment market. The last
previous offer of similar securities was in January last,
bids to be opened on the 16th of that month. We do
not need to describe the financial market at that time >
.
it was not long after the reception of the Venezuela
message, and at a moment too when the public was an.
ticipating the Government bond offer. Not a bid wag
received, so the sinking fund took the whole amount.
On the 10th of December 1895 was the next previous
occasion; the offering was only $47,000, but a much
larger amount could have been placed at that time
above p a r; as it was, the whole offer was taken at
101T6; September 24 1895 bids were opened for
$3,345,589 of similar bonds, and the whole was taken
at 100-3177; July 3 1895 the offering was fo r $2,746,310, of-which $150,000 were sold at par and all
the rest above par, the highest accepted bid being
101-53.
These various operations show that a 3 per cent New
York City bond is a pretty exact gauge of the investment
situation. When capital is looking for the best securi­
ties that bond finds a ready market above par, and when
it does not meet such a market there are special reasons
for the lack. To-day three adverse influences exist of
more or less force: (1) Government bonds (4s of 1925)
can be bought at a rate (116f) which yields about 3£
per cent; (2) money rates are decidedly higher than
they were on the occasion of any of the offerings of
New York bonds cited above, with a prospect that those
rates may further advance; and (3) most important of all
is the feeling of uncertainty that is made to hang about
the future of our currency which disinclines capital to
make any investments; there is no need for this “ feel­
ing of uncertainty/’ and hence we say it is forced,
being induced by the undeclared financial views of can­
didates for the Presidential nomination, by the equiv­
ocal political “ platforms” adopted in some State
conventions, and by the nature of the discussions and
legislation in Congress.
The money market, the price for gold in London
and at the New York Sub-Treasury, the changes in our
foreign exchange rates, and the uncertainty expressed
with reference to gold exports the past week, explain
one another. W e stated in this column a week ago
that the open market rate in London for gold bars went
up to 77s. lOd. in the week ending March 5th. On
March 25 our Treasury Department advanced the
premium for gold bars from 1-16 to 3 16 of one per
cent. In the previous week (ending March 19) the
open market rate for gold bars dropped to 77s. 9^d.,
Messrs. Pixley & Abell writing under that date stating
that “ the inquiry for export had somewhat slackened.”
In the week ending March 27tb, under a further slack
ened demand for export, the London price for gold bars
again dropped and this time to 77s. 9d.
Of
course rates for foreign exchange which would
barely justify gold exports with gold ruling at
77s. 100. bidin London, would not justify them when
gold bars in London ruled at 77s. 9-Jd. bid, and would
further come short of justifying them when gold bars
in London dropped to 77s. 9d., and still further when

[Von. LXII.

the price of gold bars was put up at the New York
Sub Treasury from 1-16 to 3-16 of 1 per cent.
These changes in the price here and at London for
g dd bars account mainly for the recent advances in
the rates of exchange and for the fact that even after
the advances it is yet impossible to find a profit in the
export of gold.
Many are surprised that with our money market
ruling so mhch higher than it has ruled for a long
time previously, foreign exchange rates should not
weaken.
Probably the explanation of that is that
foreign bankers are unable to compete with domestic
lenders of time money for the reason that the former
require a gold note, and hence they have to depend
upon the call-loan branch of the market for
the employment of their balances. It has been
suggested that call-loan money may advance, too,
by the further transfer of Government money
to the Treasury from the depositary banks— the ex­
pectation being that the Secretary will speedily make
another demand on those banks. Should such
a demand be made, which is not improbable, it is un­
likely to have much permanent influence, as the in­
terest payments by the Government the first of April
are about $5,596,000, and furthermore as the Govern­
ment income is now running short of the disburse­
ments. This latter is an unfortunate condition,
which may, however, be cured if business revives with
returning spring.
The very quiet state of trade that prevailed the past
month is clearly reflected in the statement of bank
clearings which we have compiled for March. This
statement shows an increase over the same month last
year of only 2-3 per cent. Nor are we comparing with
a period of heavy clearings last year; there was a gain
then, but it was not very large, amounting to not
quite 7i per cent, and it followed an exceedingly
heavy loss in the year preceding. Of course the
weather has played a ver7 prominent part the present
year in affecting results, and doubtless when the condi­
tions in that particular improve we may look for a
larger volume of trade, and possibly also better prices.
It is noteworthy that the changes from last yiar
in the clearings for the various groups are slight
in nearly all eases— either a small loss or a small gain—
which indicates that the quietude of trade extended all
over the country. Thus for the Middle Group we have
3-4 per cent increase, for the N ev England group 1-5
per cent decrease, for the Middle Western 0'7 per cant
increase, for the Pacific 1-9 per cent increase, for the
Far Western 2-7 per cent increas *. and for the Southern
group l ’l per cent increase. What is true of the
groups as a whole is true also of most of the prominent
places in them, New York showing 3-4 percent in­
crease, Chicago 1-3 per cent decrease, Boston 2-3 pir
cent decre ise, &c. The following table furnishes a
comparison oE the clearings at the leading points for
four years.
B A N K C L E A R IN G S A T L E A D IN G C IT IE S.

OOO.OOOs
omit led.)
New Y o rk ...
Chicago........
Philadelphia
at. L ou is---Sac Fran’ oo.
P itisb u rc.. .
New Orleans
Ixm isville...
Minneapolis.
M ilwaukee..

---------- — March.------ —
1896. 189 5. 1894. 1393.
*
$
$
*
2,316 2,241 2,049 3,251
362
667
343
443
360
349
431
3 52
26 i
242
294
261
100
106
96
91
56
55
67
57
51
54
60
GO
52
51
59
to
50
50
62
51
47
39
43
39
42
39
48
40
24
28
35
24
17
20
16
15
23
21
27
25
40
19
18
19

,— January l
1893. 189.3.
*
$
7,252 6,509
1,082 1,063
1,081 1,066
792
8 SO
300
299
156
166
161
183
155
185
147
157
120
116
120
129
79
"8
53
48
64
85
60
58

to Mar.
1894.
*
5,938
1,006
1,031
699
280
157
162
152
154
129
114
82
46
62
55

31.—
1893.
#
9,879
1.296
1,301
962
317
193
185
184
192
159
139
106
59
86
112

THE

A pb il 4, lb'Jb. j

<000,0068
omtUed.)
Detroit . . . . .
Providence..
Om aha.........
C levelan d ...
D en ver____
8t. Paul.......

--------------- j f arch.------ --------1806. 1895. 1894. 1893.
$
9
$
9
22
25
31
25
25
20
18
19
21
30
19
15
2r
IS
23
21
22
12
12
12
13
20
16
15

January 1 to March 31.—.
1396, 1895. 1894. 1893.
$
$
$
9
78
73
67
96
66
64
56
84
56
46
60
92
74
62
55
77
36
34
34
66
53
47
33
62

T o ta l......... 3,899 3,814 3,513 5,149 12,117 11,165 10,377 15,647
2 12
722
272
680
220
Other cities..
229
654
810
Total aH ... 1,129 4,034 3,760
OnW ideN .Y. 1,812 1,793 1,711

613

C H R O N IC L E

5,421 12,939 11,815 11 ,031 16,4 57
2,170 5.587 5,345 5,093 6,578

The grand aggregate in the foregoing is useful ia
showing how mach smaller the volume of clearings the
present year was than in 1893 before the panic devel­
oped, the total for 1890 being only 4,128 million dol
lars while that for March 1893 wa3 5,421 million d ol­
lars, In view of these facts it is not surprising that
onr business men should be very sensitive to anything
that tends to disturb confidence or keep enterprise in
check.
It is not strange either that the New
York Chamber of Commerce, representing our mer
cantile interests, should have deemed it its duty
to protest against certain bills now pending in the
Legislature at A lbiny intended to prevent com bina­
tions of capital in business undertakings and which
had their origin in the unreasoning hostility that has
been manifested against the attempt of the anthraoite coal companies to secure remunerative prices for
their product.
Th e Chamber well says that every
legislative measure which tends to alarm capital, how­
ever well meant to serve the public interest, is calcu
lated to defeat the object in view— the greatest
good of the greatest number; that in the present
hesitating condition of trade and commerce, anything
tending to enhance the natural timidity of invest­
ors is to be deprecated; that the pending measures are
calculated to prevent the employment of capital in a
co-operative way; and that no need exists for such
legislation, since prices of transportation and com
modifies are reasonable, while returns to capital were
never so low. Oar legislators should heed this appeal
from the representative of the business classes.
The Pennsylvania Railroad statement of earnings for
February is of much the same character as the state­
ment of bank clearings for March— that is, the changes
from last year are slight, notwithstanding that Febru
ary contained an extra day (this baiug leap year), indi­
cating a very qniet condition of the manfactur.
ing interests served by the system. On the lines
directly operated
east of Pittsburg and Erie
an increase of $326,400 in gross is reported,
with
a
decrease
of
$25,800
in
net, and
on the lines directly operated west o f Pittsburg and
Erie an increase of $112,000 in gross with a decrease
of $42,205 in net. Last year in February the Eastern
lines showed 1417,314 increase in gross and 123,181 in
crea-e hi net, and the Western lines $305,877 increase
in gross and $253,519 increase in net. The company
has adopted the commendable practice of giving the
results not only for the lines directly operated, but
also the results for all lines operated, both east and
west of
Pittsburg and Erie, thns enabling on«
to see what the system as a whole is d o in g ;
in this
instance
al30,
however, the
changes
are quite small (considering the size of the system),
there being $265,300 gain in gross and $41,000 loss in
aet on the Eastern lines and $143,400 gain in gross
and $29,400 lo?« in net on the Western liaes. Here is
a comparison of the gross and net earnings of the lines
directly operated east of Pittsburg and Erie for six

years— the only part of the system for which we have
the figures in this form .
L isas east o r
P ittsburg .

1896.

1895.

1894.

1893,

1892,

1891.

February.
*
$
$
$
$ ..
*
Gross earnings...... 1,643,034 4,419,634 4,002,320 5,127,0:38 5,207,097 4,739,320
Operat’g expenses. 3,522,933 3,270,733 2,876,600 3,890,678 3.635,166 3,430,351
Net earnings... 1,123,101 1,148,901 1,125,720 1,230,360 1,571.931 1,308,969
Jan. 1 to Mar. 1.
Jross earnings...... 9,639,905 9,097,905 8,162,149 10,050,284 10,226,838 10,051,795
Jperacg expenses. 7,473,107 6,967,807 6,421,923 8.313,619 7,580,355 7,295,807
Net earninsrs... 2,160,798 2,130,298 1,740,226 1,736,665 2,646,483 2,756,188

Aside from the Pennsylvania Riilroad, most of the
prominent roads which have this week submitted re­
turns for February report quite large gains. The Nor­
folk & Western, for instance, has $208,060 increase in
gross and $160,168 increase in n e t ; the Louisville &
Nashville 1251,630 increase in gross, $121,967 in­
crease in n e t ; the Canadian Pacific $333,224 in ­
crease in gross, $127,111 increase in n e t; the Bur­
lington & Quincy $377,807 increase in gross, $285,437
increase in net; the Chesapeake & Ohio $134,561 in­
crease in gross, $30,981 increase in n e t; the M il­
waukee & St. Paul $378,158 increase in gross, $144,108 increase in net; the Erie $151,864 increase in gross,
$74,526 increase in net; and the Atchison Topeka &
Santa Fe $140,248 increase in gross and $238,434 in­
crease i l- net. These roads, it will be observed, rep­
resent many different parts of the country. In the
following we furnish a comparison for four years for
a number of roads.
r— ------- ------ -February Earnings.—-----------1895.
1896.
1894.
1893.
*
s
s
$
2,r 8.952
2.08VJ03
2,042,810
016,682
378.247
375.737
1,325,256
992.032
1,154,253 1,260,323
333,732
206,62L
174,914
239,306
781,509
000,577
640.9:18
104.002
194,984
326,813
2,190,009
2,608.416
2,548,263
3,144,572
921,832
8d6,805
890,011
990.113
1,9'7,522
2,305,080
2,108,780
2,2^0,91.8
739,101
595.603
574,807
443,017
221,308
110,648
110,027
125,988
8.505
15,997
12.145
def. 3,870
070,931
970,748
876.393
961.899
228,391
235.361
214,920
222,354
127,721
139,490
114.043
118,610
30,880
37,031
15,167
3,590
511,483
493.152
483,146
670,278
188,433
190,209
109,014
274,008
75,190
80.796
74.553
85,879
9,114
11,180
1.360
1.326
84,741
90,551
102,108
72,970
3O,o04
20,100
30,776
14.326
338.059
380,404
381,115
. <87,390
104,520
04,812
112,427
145,777
72,705
83,401
99,932
101,955
20.U15
7.498
0,355
26,107
} ,361,940
1,481.127
1.616.570
1,817,508
596,452
575,12?
463,480
709,154
708.504
089.187
601.771
776,326
294.233
210,794
193.32L
Net
SStS.48?
232,903
228,602
223,862
241,790
26.023
48,789
Net
88, JIM
21.976
897.906
089.845
653.588
765,418
199.477
118.893
168,374
Net
80.30!!
20,018
47,472
31,526
24.904
10,360
8,863
15,876
21,075
Net
130,731
161,010
131,8)7
147,921
75,812
37,260
38,418
40,936
Net
395,839
256.11 8
191.721
.Gross
38.737
61,140
Net
32..279
*8®

Name of Road—
Atchison Ton. A Santa Fe...Gross
Net
Canadian Pacific....... .
Net
Chesapeake & Ohio........ ..Gross
Net
Chicago Burl. & Quinsy*,. ..Gross
Net
Chicago Mil. & St. Paul... . .Gross
Net,
Chicago & West Michigan.. .Gross
Net
Uev. Cln. Cb. & St. Louis. ..Gross
Net
Peoria & Eastern........
Net
Denver & Itio Grande.. .. ..Gross
Net
Detroit Lans, & Northern.. .Gross
Net
Elgin Joliet & Eastern—
Net
Kan. City Ft. Scott & Mem .Gross
Net
Kan. City Mem. & Birm... ..Gross
Net
Louisville & Nashville....
Net
N. V. Ont. & Western......

Rio Grondo Southern.. ...
Rio Grande Wcistern......
Western N. V, & P a.......

* Included Chicago Burlington & Northern for all the years.

Last week’ s bank statement showed a loss of $2,355,900 cash, but there being a reduction of $2,529,900 in
loans, the deposits were not materially lower and the
surplus reserve fell off only $895,250. The statement
of this week was expected to show a movement to the
interior for the April settlements, but this movement
has been lighter than was expected and arrivals from
other points more than balance the outgoes. It was not
until Wednesday that there was any really active market
for call loans and even then the rate did not rise above
4 per cent, and while 4£ was the highest on Thurs­
day. Brokers report a comparatively light supply
of the best commercial paper and no particular
urgency on the part of borrowers, while the demand
for choice names ia good ; but those of the banks wh®

614

THE CHRONICLE.

[V o l . LX 11.

aru ia the market will not accept less than 6 per cent, ( is reported that the Sultan is satisfied with the
though some business is done at 54 per cent for strictly legitimacy of the Soudan expedition, and aho that
first-class endorsements, and some banks report direct the authorities have succeeded in preventing the
applications by merchauts who are indisposed at this spread of the Matabelan revolt. It would appear,
therefore, that all cause for political tension has been
time to make paper and offer it on the Street.
The amount due at the New York Sub-Treasury on removed, and unless there should be some significance
account of the new 4 per cent bonds on April 3 was in the report from Cairo that the telegraph line north
$3,364,085. There have been no transfers by the of Mada Haifa has been cut, it is probable that the
specially designated depositary banks to the Treasury European markets, and especially that of London,
during the week. The amount of gold reported as will be strong after the Easter holiday recess.
having been withdrawn from the Sub Treasury on The Bank of England minimum rate of discount
Friday of last week was over-stated at 8157,833. The remains unchanged at 2 per cent. The cable reports
sum actually withdrawn was 8157,700, making the net discounts of sixty to ninety day bank bills in London
loss for that day $34,308 10. Tne p tyments for bonds f of 1 per cent. The open market rate at Paris is I f
at the Sub-Treasury, the withdrawals of gold, and the per cent and at Berlin and Frankfort it is 24 per cent.
net gain or loss for the week, together with the According to our special cable from London the Bank
of England lost £1,641,262 bullion during the week,
amounts to date, are shown in the following.
Paym ents.
Withdrawals.
Net.
and held at the close of the week £47,062,695. Our cor­
Feb. 8 to March 26 .$61,162,244-96
$20,372,389
$40,789,855-96
M arch 27.....................
123,391-90
157,700
*34,308-10 respondent further advises us that the loss was due to
•• 2 8 .....................
70,874-72
37,900
32,974-72
the import of £42,000 from Portugal and to net ship­
o
3 0 ....................
236,090-70
222,900
13,190-70
ments to the interior of Great Britain of £1,683,000.
•« 3 1 . . . ................
254,198-34
135,200
63,998-34
The foreign exchange market has been generally strong
A p ril 1 .....................
341,277-61
309,700
3157761
2 .....................
None.
269,346
*269,34 600
this week, with a good demand for remittance which
“
3 ......................
22,510 90
201.904
*1'9,3 93-1 0
has absorbed about all the bills that have been
T o t a l..............J .. .$62,210,589-13
$21,757,039
$40,453,550-13
offered, leaving the market comparatively bare. But
*”Eoss.
Money on call representing bankers* balances loaned at though early in the week there was thought to
the Stock Exchange until Wednesday at 3@3^-per cent. be a probability of gold exports this week, there was
Then the market grew a little more active and loans some uncertainty expressed on Thursday and one
were made at 4 per cent, but the bulk of the business banker was of the opinion that none would go out
was at 34 per cent, and money was freely offered even next week. It is said that the Norfolk & West­
at 2 per cent at the close. On the following day there ern underwriting syndicate is almost entirely made up
appeared to be no special inquiry, though there would in London and Amsterdam, where all but a few thous­
be no loan market until Monday, and the business was and shares of the stock are held, and therefore
done at 34 to 44 per cent, and the average for the week there is a possibility that there will be more or
was not above the first-named rate. Usually at this less exchange made available against this reor­
period of the year, in normal conditions of the ganization. There should also be some exchange
market, there is considerable activity in money by resulting from the Northern Pacific and the
reason of preparations for the April settlements, and other reorganization operations now in progress.
it
is
somewhat
remarkable. that
at
this On Monday all the foreign bankers posted 4 884 for sixty
time there should have been so little disturb­ day and 4 894 for sight, but no change wa3 made in
ance.
The reason will
probably be found rates for actual business compared with Friday of last
in the fact that institutions other than banks having week, these remaining at 4 87f@ 4 88 for sixty-day,
been unable to place their offerings for fixed periods 4 88f@4 89 for sight and 4 89@4 894 for cable trans­
have forced them upon the call-loan branch of the fers. The tone was reported strong, with a moderate
market, thus increasing the supply; moreover, the demand for bills. On Tuesday Brown Bros, and
foreign bankers have been liberal with their offerings. Heidelbach, Ickelheimer & Oo. advanced their rates to
Banks and trust companies quote 34 per cent as the 4 89 for long and 4 90 for short, but rates for actual
minimum for their money, some obtaining 4 per cent. business continued unchanged all through the week.
Brokers making a specialty of time loans report the On Wednesday the tone was a shade easier
market abundantly supplitd, and they say that money in the morning and firm in the afternoon, and on
can be borrowed for any period from sixty days Thursday it was dull and steady without change in
to six months at 4 per cent.
Other -brokers quotations. There was an arrival of $500,000 gold
report the offerings free for long dates, while from Havana on that day consigned to Muller, Schall
the demand is chiefly for short periods, and & Oo. The following shows the daily posted rates for
quotations are 4 per cent for thirty to ninety days, 44 exchange by leading drawers.
per cent for four to five and 44 @5 for six to seven
F ri ..
Mon ., T ubs., W e d ., THUR., FRL.
months. The scrutiny of names continues to be a
Afar. z7. Mar. 30. Mar. 31. A p ril 1.1 April 2. April 3
89
89
days.
88*
89
89
88*
feature of the commercial paper market, and none but Brown Bros...... 5{ 60
90
90
Sight....
90
89*
90
89*
88*
88*
J60 days.
88*
the best sell readily ; but there is a good demand for Baring,
88
88 6
S8*
89*
89*
{
Sight....
89*
Magoun & Co..
89
89*
8946
these and a fair amount of business is done. Rates are Bank British S60 days. 8 8 *
88*
S8*
88*
88*
8S *
89),
89*
89*
89*
No. America... { Sight....
81%
89*
54@6 per cent for strictly first-class sixty to ninety Bank of
560 days.
88*
88
8 -*
88 ’*6
r8*
F8*
89*
Montreal....... <Sight....
89
89*
89*
w*
8 «*
day endorsed bills receivable, 6 per cent for four ''anadian Bank 560 days. *8
88*
8
8
*
88 *
*■8*
88*
89
89*
ol Commerce.. \Sight....
89*
89*
83*
89*
months* commission house names, 6 per cent for Heidelbach, Ick- J60 days 88*
88*
89
89
HO
83
90
89*
90
90
elhenner & Co. ) Sight....
80
83*
prime and 64 per cent and above for good four to six
W8*
8r>*
S00 days.
88*
88*
t-8*
88*
hazard Freres... {Sight....
89*
89*
80*
81' *
89*
89*
months* single names.
HS*
88
88*
88*
Merchants’ Bk. » 60 davs.
88*
S«*
» Sight....
89
89*
89*
8
3
*
89*
816*
of
Canada......
The cable announces that the new Chinese
Anglo-German 5 per cent loan for £16,000,000 was
The market closed firm on Friday at 4 884@4 89
closed on April 1, and that the portion offered in L on ­ for sixty day and 4 894@4 90 for sight. Rates for
don was more than four times over-subscribed. It actual business were 4 87f@ 4 88 for long, 4 88|@4 89

A pril 4, 1896,]

THE CHRONICLE.

615

for short and 4 89@4 89^ for cable ^.transfers.
Prime mention of it. It was too noisy and spectacular to be
commercial bills were 4 87^@4 874 and documentary a power. No one knows better than the manufacturer
that effective force is always quiet in its work; it is
4 m m 87.
We have referred above to the fact that the improve­ only the small amount of escaping steam that displays
ment in bank clearings over a year ago for March was and spends itself in noise. This week, Monday, the
quite small. In the following table we give the com­ Manufacturers’’ Club of Philadelphia came together on
parisons for each month of the present year in our purpose to disclaim any connection with that gathering
and any sympathy with its o b je ct; indeed, more than
usual form.
MONTHLY I'r.K.VRINO*.
that, to announce not only that its principles were not
for sale, but that it wa? “ unalterably” opposed to silver
ClmHng* Outside New York.
Clearings* Total AIL
M eat*.
money. The reports of the meeting given by the daily
1898.
1395.
p .a .
1895.
jp.Ot.
m
press state that the gathering comprised the largest
$
$
$
*
i
Mfl2.0d8.9O9 -H-7 2,040.753,791 2,007,900,404? + rg number of manufacturers ever brought together in that
Jan uary..-.
4«U9tf12,49? 3,407^*53.173 + * M 1,728,720,777 1,543,220,947 -BS’0
February
M arch.. ... . 4,128,970,302 k j m j s & jm +3*3 1,811,813.048 1,793,694,878! +1*0 c ity ; that it was an assemblage not merely representative
1st qmtr.. 12,83&B50.208 11,844.700.07*3 +8-4 5.587,238.2.10! 5344.912.310? +4*5 of that department of industry, but included almost the
A t the Stock Exchange the dealings^ere^only mod­ entire body of men engaged in the various manufac­
erate, the sale8 of stocks reaching 4,586,579 shares in tures at that centre. N ot alone did the sound money
men attend the meeting, hut the devotees of silver
March 1896 and 5,128,539 shares in March 1895.
likewise. All the manufacturers of both classes were
SALE'S OF STOCKS AT THE NSW YORK STOCK BYCHANCE.
on hand ready to talk and vote. And there was a deal
1895.
1896.
of
talking, especially by the few lovers of silver who
Xumber |
Value..
Value,.
Month. Sumber
wanted to “ rescue the people of the United States” by
Par
of Share..
p,ir
actual. of
Actual.
giving them a half a dollar for a whole dollar, so that
f
$
f
1
Jan . . . 4,536,012 417.301.666 260.445.005 3.243.9051 318.422,500] 192,686,084 the industrial workers of this country could be brought
3,084,032
300,314,750
3,098. 402,613,700' 806,389,139,
186,106,308
Fab-.-.
March. 4,586,579 S M jm jm 252.466,667' 5,128,539! 499,445.800 301.268,171 (vp they say, we call it brought down,) to “ the level
U.388.478! L1UUS3.050 680.010.536 of Chinese coolies.”
1st <tt
The upshot of it all was that a series of resolutions
of money to and from the interior by the X. Y . banks. expressing extreme hostility to the idea of silver coin ­
age whs passed with not to exceed 15 dissenting votes
Net Interior
WpeA Mrnlmo April 3, MBS,
11**1 ■1Oil Shipped by
jr. r . HieCu N.Y.Bm ks.
out of an estimated 600 voting, the decided character of
Movement.
*4+03.000 »3.3M.OOO|Q»ln. *808,000 the decision, and the deliberation with which it was
©old
.................... ...
-407.000
S8SM>00!0»lti.
85,000
reached, being farther indicated by the fact that not
Total *o!.t *nfl te*»l I m a m ■... **.010.000; * j.ti«.o o o ;g »io . *804.000
far from a half a dozen amendments were offered by
Result with Sub-Treasury operations.
the silver people which were formally bat with little
Out
of
toia
ceremony
rejected. A t the same im e not a chance
Net
Change
in
w m Mmiim Apru a, i
IkrnkM.
ISapA*.
■
was left for any one to misunderstand what he
Banka' interior movement,*# above M .oio.ooo *3 710,000 Gala. *894,000
14,300.000 U.800,000 Lon.-i. 800,000 was voting for. In introducing the resolutions the
fiteb-Treawarf operation.*
"M ftl leoM and 1#**! tender*..... *1+010.000 9t8.618.000 ©ala. -294.000 speaker, Mr. Blankenberg, stated with the utmost
clearness and frankness that they were intended
Amount of bullion in principal European banka.
to disabuse the public mind of a false impres­
Ap tt 8, lim ,
I
April 4, ISIS.
sion created by " a deep laid scheme of the free, OtM. { Biterr. j T-Aoi j 0 11 : surer, j Total
eoinage men to affiliate the manufacturers of Philadel­
1 Jft j £
j
£
j
I
£
£
BOfflnnd....... - 47,062.605’
: 47,«>'1,6aV 37.744.6W
! 37.744,020 phia with free silver, when, on the contrary, the Manu­
VtKDM........ ; 18,0m,$45A8MT&>$,l3VjtiT.a*«
ta.MJ.tXifl.H.WS.CKK)
facturers’ Club is emphatically opposed to it.” Then, too,
51.748.000
47,081*000; sa.i*9,38ff
5,219.000'
17,a>LO0&;i3.es0.oobf| 81.490.000 there was no ambiguity in the preamble and conclu­
Attitv-HhBg'y
3,004,000 10,<U,000; 18,445.000! SkOOI.000ju.i3J>,000| 30.431.000
Spain....
Wmbmlm4*. ' 2J23.0OO| S»07I,000j 9,594,0*X>j 4t& i
?»0?A*4Q0t 11.358.000 sions which were read and almost without dissent
3,7S9,0OO| 3,813.233' 1^ 80^ 07', 4.970,000 adopted.
NaLBelitiuro.
They affirmed that “ the Manufacturers’
Touthi* wmk W&M&MQ 07,007,««3392J*?6t043 l WJ& 11.710.100019110 29+831,020
Tot.prev.w'ic 198.000,8®* 07.067.375 195,058,2*0 102.I28.S57-100138003 202.205-350 Club, speaking for its members, emphatically de­
nounces as false the statement made,”
*
*
*
“ that onr Philadelphia manufacturers are willing
A SOUND CU RR EN CY, THE FOREMOST to barter with the silver Senators for the free
coinage of silverin exchange for additional protection;”
QUESTION.
What a capital illustration we have had this week of “ that the question of bimetallism can he permanently
the foremost place the rectification of onr currency settled only through an international agreement, and
holds in the minds of business men. A few weeks ago that the Manufacturers’ Olub declares its unalterable
a small number of Pniladelphia manufacturers sudden­ opposition to the free coinage of silver by the United
ly appeared at Washington, ostensibly to barter away States alone, firmly believing that such a policy will
for higher tariff rates the liberty, conscience and opin­ result in disaster at home and dishonor abroad, and
ions of the whole body of people in their own city who would only operate to place the country upon the basis
have a share in the manufacturing industry. A cry arose of silver monometallism.”
We have given the history of this exposure in detail
from this little coterie, and went all over the country,
mainly
because the exposure relates to a specimen case.
that here is a place in the E sat and a chief class among
Big
smoke
and little fire are the characteristics of the
commercial workers who do not think the currency is
the leading question to be settled at the coming elec­ majority of the demonstrations the lovers of silver are
tion, but who put the tariff in that position, and are just now making that they may appear to have
willing to sink every other interest if thereby they can a large following. The public should understand
this. So much of a display is made for a purpose.
advance their own.
We did not consider at the time that the Washington It tends to exaggerate the delicacy of the indus­
crowd had any following, and consequently made no trial situation, to make the people timid and discour-

616

THE CHRONICLE

aged, and this in turn depresses business; the latter is
its chief object, for the surroundings arising from bus­
iness depression furnish the very conditions in which
such a noxious plant as free silver grows. Then, too,
these spectacular affairs have influence with politicians,
who always are an apprehensive set and easily led to
exaggerate and make concessions to any error afloat.
Consequently there is a purpose in industriously circu­
lating “ false statements” of the kind described,
especially at a period when an important election is
approaching. They are a part of the occasion and
never half as grave as they seem.
But this meeting of the Manufacturers’ Club at Phil­
adelphia is of greatest significance because it is an­
other indication of the state of public opinion which,
though unannounced, quietly prevails among the peo­
ple. It shows that a sound currency holds a foremost
position in public thought and purpose ; that this
sentiment may be dormant when there is no urgency
for its expression, and can therefore be easily misrepre­
sented by a few noisy individuals, even in one of our
chief cities. It exists, and is the controlling power
nevertheless, and when the occasion demands makes
itself known and felt with the energy born of a knowl­
edge that the'country can enjoy a large measure of
prosperity under almost any condition except one, and
that is a condition in which the standard of valufs is
threaten* d. That opinion is substantially the opinion
of the Eastern and Middle States, and if the chance is
given, it is an opinion that will declare itself at the
coming election with an approach to unanimity on the
part of voters never before equaled on any public
question.
TH E T R E A S U R Y O P E R A T IO N S A N D
S IT U A T IO N .
The decline in business activity, which has been felt
with increasing force month after month this year, has
at length made a decided impression on the Govern,
ment figures of income. Of course the internal reve­
nue receipts would be the first and the import duties
would be the last to feel the set-back. This follows
from obvious differences in character and requirements
between the domestic and foreign trade. Internal
revenue imposts are quick to feel depression, because
whatever restricts consumption, at once and to the
same extent arrests the needs of distributers, that is,
the purchasers, who pay the taxes. On the other hand,
foreign goods, as a rule, have to be ordered so much
in advance of consumption that their arrival cannot to
the same extent be checked at once. Even if they
meet a lifelpss market, for a time the goods must be
received aDd paid for all the same, what are not dis
tributed being represented in accumulating stocks in
warehouse and elsewhere.
Thus it has happened that not till March has the
full force of the business depression been disclosed in
the Government revenue ; the total receiots that month
were reduced to $26,382,000, against $27,051,000 in the
Bhort month of February and $31,375,000 in January.
We would refer the reader to our usual monthly state
ment of Treasury receipts and disbursements in oui
Commercial and Miscellaneous News department for a
full exhibit of those items since July last. It is inter­
esting to note how dissimilar has been the effect of th*
differences rematked upon above in the purchasing
methods used in the two kindsof tradecovered by these
revenue laws. Internal revenue receipts, which had
been in excess of 13 million dollars in October and

[V ol. LAII.

November, dropped to $12,751,000 in D-cemoer,
reached only $10,807,000 in February and $11,536,000
in March, with two more days than February. On
the other hand Customs duties have kept up fairly
well. Of course January was an unusually full month ;
the increase of duties that month was from $12,169,000
in December to $17,375,000 in January; the February
figures (two days short) were still $13,906,000, but
March (two days longer than February) the total
reached only $13,344,000.
With so great a decline in revenue and with dis­
bursements a fixed quantity a deficit wa3 inevitable.
Our figures include the National Bank Redemption
Fund, and hence to that extent differ from the Givernment totals. We show a deficit in March of $1,804,000.
This is not large, but to us it is a disappointment,
though, as we stated a month ago, it was to be expected,
for no other result was possible with business contract­
ing. As to the industrial outlook, it is just now in­
creasingly favorable. But even if this improvement
should become more evident as the spring opens, reve­
nue may not expand as rapidly. We notice that in the
closing nine business days of March the average daily
revenue was only $928,396, against an average of $1,040,000 for the previous seventeen business days. That
would tend to show that the run was towards smaller
figures instead of larger as the month close!. This
fact is by no means conclusive of what the April result
will b e ; and yet in the light of the other conditions
referred to above one would incline to the view that
import duties would further contract in the current
month, even if internal revenue receipts should expand
again.
As was to be expected, the Government’s interestbearing debt increased in March. This was almost
wholly due to further payments made on account of
the bond sale in February and the consequent issue o f
$14,788,800 of the 4s of 1925. We say almost wholly
due to those issues, because there was a slight addition
($170) to the old 4s, growing out of the redemption of
a small amount of refunding certificates of 1879. In
consequence of these changes the interest-bearing debt
is now (April 1) $837,404,140, against $822,615,170
on March 1 1896. The net debt has not by any means
increased in a like amount; the net debt is only about
5£ million dollars larger than it was a month ago,,
although the interest-bearing debt is over 14£ million
dollars more. The most of our readers are aware that
this difference results from an increase during the
same period in the available cash balance. Tne issue
of bonds was not to supply a deficiency in the revenue,
but to fortify the reserve. We have prepared our
usual monthly debt statement in a new form this week..
It will be found on page 621. Of course the figures
are the same as issued by the Government, but our
arrangement makes the facts intelligible to many
readers who do not understand Government book­
keeping.
Tae only other feature of special interest in the
Government reports for the first of the month is the
gold reserve. As that item is published daily, every
one by this time is aware that it was reported on the
opening of business April 1 at $128,646,461. Every
one is not aware, however, what the comparison is with
a month ago. We have already seen that the bonds
issued in that interval for the purpose of fortifying the
gold reserve were over 14f million dollars, whereas the
*dditions to the gold reserve in the same time were
I jss than 4£ million dollars. That is to say, of the

A pril 4 1896.]

THE CHRONICLE.

payments for those bouds which the subscribers were
asked to buy, and did bay, for the purpose of increasing
the Government’s gold holdings, about 10 millions were
paid for with gold taken out of the Treasury, and less
than 4 f million dollars were paid for with gold obtained
elsewhere.
Below we give onr usual table of Government cash
holdings on the 1st of April and on three previous
monthly dates. These are the figures we have referred
to in the above remarks, except the receipts and dis­
bursements, which, as already stated, will be found in
the Commercial and Miscellaneous News department.

617

their actioa as regards the other points raised tnau in
defense of the higher rate to Social Circle.
It will be well to recall briefly the circumstances of
the case.
The action before the Commission was
bronght by the James & Mtyer Buggy Company of
Cincinnati, manufacturers of buggies and carriages,
and the complaint was that the Cincinnati New
Orleans & Texas Pacific, the Western & Atlantic
and the Georgia Railroad, in forming a through route,
charged the same rate (I I 07 per 100 lbs.) for trans­
porting vehicles from Cincinnati to Atlanta, a distance
of 474 miles, that they did for transporting the same
J a ^ l.-e e . j M . l . ’WL itc h .h ’M. Apr 1, ’98. class
of traffic from Cincinnati to Augusta, a
in Suite-Treasuries--$
$
$
$
distance of 645 m iles; and, furthermore, that
N<st«oW«otn and bullion........ * 83.2*2*2*0 & M V &* 123.902/79
K©iiitwer cote a.£Ml butttocu.**.. M.SWMki 88,494,443 2M 78.7M 20.570,601 to Social Circle,
a point 119 miles nearer than
Ket II. 8. Treasury notes...........22/41/11
30,614,730 32.352,314
Net
m nw ............ P4£20JL43 72,010,170 73*887.443 79.933 524 Augusta, the charge was 30 cents per 100 lbs. greater
Net national bank note#......... 7J068.13? l«\f 9/50
803*0?
7*110 083
The carriers, of
Net fractional stlrer.........„ ...* . 12,734.321 14.180.T37 11/2>.481 15,240,374 than to Augusta— that is, was I I 37.
course,
undertook
to
justify
the
granting
of like rates
ToU*m»ts laStttKTlW»*liet.20*.2i>2.e87 185.6A1.028 27 •,633.027 283.850,245
Amount in national bank*....... 11,271.580 n jm ,S m 2 i.394.-57 27.010.994
to Augusta and Atlanta on the ground that water com Cmmh to bnOki A J««b.tWMUL,2 l8.473.O07 *L0A>5, m
4 310.870,3:40
netition via Charleston and Savannah from Baltimore
Deduct Other litbitttte** net,. i M W
,<m 30/ 23,477
A c tu a l cmh
HF,m 1*1/01.778 s m , O i l , 743 and other Eastern centres operated to lower the rates
to Augusta. A t the same time they argued that S icial
*
dl*l>artljaij officers* balane#*/
Circle was too far removed from Augusta to get the
same advantages. The Commission sa v n o legal o b ­
INTER-STA TE L A W IN TE R PR E TE D .
jection to equal rates to Atlanta and Augusta, but for
The powers of the Inter-State Commerce Commission some reason marked the Atlanta rate down from I I 07
and the scope of the Inter-State A ct are being rapidly to II 00, leaving the carriers free to reduce the A u ­
defined by the United S ates Supreme Court. Though gusta rate to the same figure if they chose; the higher
the Act baa been in force since 1887, the meaning of rate to Social Circle was condemned and the roads were
aoms o f itii mo3t important provisions have remlined ordered to desist from charging more to the latter
in doubt until now. The decisions rendered this week point than to Augusta. Tue lower court ruled against
and last week will go far to clear up the doubtful the Commission, the Circuit Court of Appeals reversed
points and to place the law on an assured basis, where this ruling and sustained the Commission, except as
both the railroads and the Commission will know how to the cut in the rate to Atlanta, and the Supreme
it is to be regarded. Last week it wilt be remembered Court has now taken the same ground and position as
-the Court decided that witnesses cannot shelter the Court of Appeals.
A little study of the case will serve to show that the
themselves behind the plea that their testimony might
incriminate them, and previously the Court had ruled railroad side of it contained a number of weak points.
that the powers of the courts can be used to enforce It was claimed, for instance, that the rate to Social
the process of the Cimmission. This week the Court Circle was not the result of joint agreement or arrange­
has delivered an opinion in a case involving the con­ ment between the various roads, that it was arrived at
struction of the long and short-haul clause of the A ct, simply by adding the local rate from Atlanta to Social
a n d a ls ia n opinion in a case railing the question of Circle, to the through rate from Cincinnati to Atlanta,
discrimination in favor of import traffic ai against that hence the trsffic to Social Circle was to be consid­
domestic traffic. A t the same time the Court in the ered as local traffic exempt from the operation of the
discussion of these ewes makes some general observa­ long-and-short-haul clause. Y et it appeared that the
tions which are useful as a guide to its views of the shipments to Social Circle were made on through bills
of lading, and even before the Supreme Court decision
law as a whole.
la the long-and-short-haul-clause case the Court sus­ came this week it seemed difficult to controvert the
tains the Commission. As to how far the present rul­ argument of the Commission that “ the carriige and
ing
applies
in
other cases it i3 difficult to traffic is none the less inter-State, * * because as
determine; there were certainly exceptional features between themselves the carriers make and apportion the
in this instance.
We have from the very first re­ rates to Social Circle and Augusta on different bases.”
garded the present case as one of tho weakest of all the Again, it was found that while Soci-1 Circle was
cases involving a eonstruc'ion of the fourth section of charged 30 cents more than Augusta, small stations on
the act. ft came up a long time ago, the Commission branch lines of the Georgia Ra lroad, like Athens,
haring passed upon it in July 1891, and has reference Milledgeville and Washington, all more distant from
to the rates charged to a point called Social Circle in Cincinnati than Social Circle, “were granted the same
Georgia—hence the designation of it ai the Social rate as Augusta.
Interpreted in the light of these facts, the opinion
Circle case, by which it has become so generally known.
W e reviewed the poiot3 at issue quite at length in the handed down by the Supreme Court is not difficult to
understand. The Court refuses to accept the plea o f
Cnao.N-iri.f; of .July 25 1891, and summed up our con
cludons in the statement that “ though the decision of h e railroads that the traffic to Social Circle is to be
the Commission may not bo entirely satisfactory to the regarded as locvl traffic, and therefore not coming
roads, the Commission’ s action in this instance pos­ •vitbin the provisions of the Inter-State law, saying:
sesses certain elements o f fairness which will tend in “ We do not perceive that the Georgia R dlroad Comoany escaped from the supervision of the Commission
great measure to disarm criticism .” We also took oc
cssion to say that it seemed to us that the carriers bad .y requesting the foreign companies not to fix any rates
presented 4su m ach stronger argument in defense of for that part of the transportation which took place

618

THE CHRONICLE.

[V ol. LX1I.

in the State of Georgia -when the goods were shipped the practice of the Commission, for hitherto it has
to local points on its road. It still left its arrangement been acting on the opposite theory. There may be
to stand with respect to its terminals at Augusta and something in the opinion to modify the broad, general
to other designated points.” “ The Georgia Rail­ construction which is being put upon it, but so far as
road Company, by entering into the carriage of the words have been reported there seems reason to
foreign freight, by agreeing to receive the goods by think that the effect of the ruling will be to restrict
virtue of foreign through bills of lading and very materially the functions and powers of the Com­
to participate in through rates and charges, thereby mission.
In the import rate cases, the decision was altogether
becomes part of a continuous line for the continuous
carriage or shipment from one State to another and against the Commission. We have obtained a complete
amenable to the Federal act in respect to such inter­ copy of that decision, and discuss it in the succeed­
state commerce. Having elected to enter into the ing article.
carriage of inter-State freights and thus subjected
itself to the control of the Commission, it would not
ON
DOM ESTIC
AND
be competent for the company to limit that control, in IN L A N D R A T E S
IM P O R T TR AF FIC .
respect to foreign traffic, to certain points on its road
In the preceding article we have reviewed the decis­
and exclude other points.” We have not been able to
obtain the full text of the opinion, and therefore ion of the United States Supreme Court in the case
can not speak with entire positiveness, but it appears involving the construction of the long-and-short-haul
to us that these remarks mean simply that the clause of the Inter-State Commerce Act in its applica­
carriers put forth an untenable plea and that tion to a point called Social Circle in Georgia, and
the Court has brushed it aside. In other words, if a shown that the position of the defendant railroads in
higher charge for a short haul than for a long haul is that case contained a good many elements of weakness.
to be upheld, it.w ill have to be based on some other Besides this decision, the Supreme Court has this
ground than that the traffic is not subject to the Inter- week passed upon another case of wide interest and
State law. In this case the Commission, after a con­ importance, namely that concerning the right of the
sideration of the facts, reached the conclusion that cir­ railroads to accept a lower rate upon import traffic
cumstances and conditions did not warrant the higher shipped on a through bill of lading from a foreign
charge, and the Supreme Court is evidently of the country than upon domestic traffic carried over the
same mind, though in the absence of a complete copy same road to the same point of destination. If the
of the opinion we cannot tell how largely the Court position of the railroads in the Social Circle case was
went into this part of the case. The inference seems weak, their position in the import case was one of
fairly warranted that where complaints of a violation of unusual strength. Yet strange as it may seem the
the fourth section of the Act arise, every case will have Circuit Court, before which the import cise first came,
to be considered by itself, the same as heretofore— that and the Circuit Court of Appeals, to which it was ap­
is, the facts and merits will control in each instance.
pealed, both ruled in favor of the Inter State Commis­
The Court overrules the Commission in its attempt sion and against the railroad; the Supreme Court,
to prescribe a lower rate to Atlanta, and this we con however, has now reversed this erroneous ruling and
aider by far the most important part of the opinion in upheld the contention of the carriers.
its general application and far-reaching effects. We
In this instance we have been able to obtain
have never been able to see any good reason for the full text of the opinion.
The title of the
the action of the Commission in reducing the A t­ case was the Inter state Commerce Commission
lanta rate from $1 07 to $1 00. The Court now de­ vs. the Texas & Pacific Railway Company, ard
cides that it is entirely beyond the province of the it was an application to enforce an order of the
Commission to undertake the making of rates—a view Commission made January 20 1891 in a proceeding
which some of the best exponents of the law have instituted by the New York Board of Trade and Trans­
always held. Justice Shiras, who wrote the opinion, portation. The Board of Trade was simply the orig­
says that there is no provision in the Act that ex­ inal complainant in the case, and did not appear in
pressly or by necessary implication confers the power the present proceedings. As early as March 1889, the
on the Commission to fix rates. As to the argument Inter-State Commerce Commission made a general order
that the power to pass upon the reasonableness of providing, among other things, that import traffic
existing rates implies a right to prescribe rates; the must be taken on the inland tariff governing other
Justice says this is not necessarily so. The reasonable­ freights. In November of the same year the Board of
ness of the rate| in a given case depends on the facts, Trade presented a petition against the Pennsylvania
and the function of the Commission is to consider Railroad and a number of other roads charging that
these facts and give them their proper weight. If the on import traffic the tariff rates from New York and
Commission, instead of withholding judgment in such Philadelphia to Chicago and other Western points
a matter until an issue shall be made and facts found, were very much less—in some cases 50 per cent less—
itself fixes a rate, that rate is prejudged to be reasonable. than the tariff rates on domestic traffic of the same
We take this to mean that the Commission can not class.
Subsequently, when it appeared that a like
of its own motion fix rates or alter them—it must wait disparity existed at other points, the Commission ex­
until a case is presented for its consideration, and it tended the inquiry so as to include the import rate at
can not order a reduction as incidental to a general other seaboard points, such as New Orleans. Among
proceeding on which its judgment is solicited. In this the roads thus made parties was the Texas & Pacific.
instance the Commission having found that there was The final result of the investigation was the issue by
no legal objection to like rates to Atlanta and Augusta, the Commission of a general order directed to over two
there was no occasion for it to go any further and dozen roads, requiring them “ to wholly cease and de­
order a reduction in the charge to the former point. sist from carrying any article of import traffic” “ upon
The result of the ruling must be to change materially any other than the published inland tariff.”

Apeil 4, 1896.]

THE CHRONICLE.

619

T i e Texas & Pacific refused to comply wim this of a kind that it could properly regard— that it was
order, and then the Commission brought an action in shut up by the terms of the A ct of Congress to con ­
the Circuit Court to compel obedience to the order. sider only such “ circumstances and conditions” as
The company admitted that it received les3 for traffic pertained to the articles of traffic after they had
com ing from abroad on a through bill of lading than reached and been delivered at a port of the United
it did for the transportation of the same class of States or Canada. In view of this position the Court
traffic between the same points when not com ing from says the question becomes one simply of law. I f the
abroad, but pleaded that the exigencies of competition construction put upon the A ct by the Commission was
did not permit of any other coarse. The traffic was right, then its order was la w fu l; otherwise it was not.
through traffic shipped from Liverpool or London via
The conclusion reached is that the Commission
New Orleans to San Francisco, and the rate for the erred in its interpretation of the statute. Dealing with
through carriage was not made by it and it had no this point, the Court says: “ It could not be supposed
control over the same. If it did not adjust its charge to that Congress, in regulating commerce, would intend to
meet the through rate the traffic would go by other forbid or destroy an existing branch of commerce of
routes— via the Horn, the Isthmus, Canada, or in value to the common carriers and to the consumers
Borne other way. Moreover, the company averred that within the United States. Clearly, express language
the adjustment of the import rates is of positive must be used in the Act to justify such a supposition.
advantage to New Orleans by reason of the fact that ■So far from finding such language, we read the A ct in
thereby the import traffic which would otherwise be question to direct the Commission, when asked to find
lost to New Orleans is directed through and handled a common carrier guilty of a disregard of the A ct, to
at that port.
take into consideration all the facts of the given case,
It is to be noted that the original character of the pro­ among whi*h are to be considered the welfare and
ceeding was entirely changed. The Board of Trade and advantage of the common carrier and of the great
Transportation, when they brought their original com­ body o f the citizens of the United States who consti­
plaint, alleged a direct interest in the discrimination of tute the consumers and the recipients o f the merchan­
import rates and a direct grievance resulting from it. dise carried, and that the attention of the Commission
Bat as far as the Texas & Pacific is concerned, no peti- is not to be confined to the advantage of shippers and
tition was ever presented charging the road with dis­ merchants who deal at or near the ports of the United
crimination against any person or persons, corpora­ States in articles of domestic production. Undoubt­
tions, firms or locality, or with having made or given edly the latter are likewise entitled to be considered,
any nndue preference. Messrs. John F, Dillon and but we cannot concede that the Commission is shut up
Winslow S. Pierce, the counsel for the company, in by the terms of this A ct to solely regard the complaints
their brief— a paper by the way of uncommon ability— of one class of the com m unity.''
This is a broad and unmistakable declaration. It
bring this fact out with great clearness, saying that no
persons, corporations or localities affected by the rates should be understood that the Court does not pass
or the rate adjustments of the Texas & Pacific were upon the question whether the disparity in rates was
brought into the proceeding either directly or by any too g re a t; nor does it deny to the Commission the
representation whatever, that the company appears in right to determine that question so long as the
the case simply through the action of the Inter-State Commission gives due weight to the differences
Commerce Commission. They contend that the com ­ in circumstances and conditions between the two
of
traffic.
The
Circuit
Court
of
pany has not even been impliedly charged with unjust classes
discrimination or with undue preference, except as re­ Appeals in its ruling had undertaken to con­
spects the City of New Orleans and its merchants and im­ sider that point as an element in the case. But the
porters, and that as to this there can be no such thing as Supreme Court rules that the Court of Appeals erred
discrimination or prejudice to New Orleans in open rates as to this. “ That question was not presented to the
with which New Orleans is satisfied; furthermore that consideration of the Court. There was no allegation
New Orleans is obviously benefitted by the discrimina­ in the Commission’s bill or petition that the inland
tion on import traffic to the extent to which it handles rates charged by the defendant company were unrea­
That issue was not presented. The de­
the traffic imported. Thus we have the anomaly of sonable.
the Inter-State Commission attempting to corrects fendant company was not called upon to make
the subject.
No testimony
situation with which all those interested are satisfied, any allegation on
and against which no complaint or protest has been was adduced by either party on such an issue. What
the Commission complained of was that the defendant
made.
This is a feature of the case that should not be lost refused to recognize the lawfulness of its order; and
sight of. One other point which the company's coun­ what the defendant asserted, by way of defence, was
sel made in justifying the differences in rates between that the order was invalid because the Commission
the two classes o f traffic was that in respect to traffic had avowedly declined to consider certain cireum
between Liverpool and San Francisco the'com pany is stances and conditions which under a proper construc­
obliged to meet the competition of carriers not subject tion of the A ct it ought to have considered.”
One other suggestion the Commission had thrown out
to the A ct, while as respects the local business between
as
having a possible bearing on the case. We can hardly
New Orleans and San Francisco it is subjected to no
think
it was made seriously, but the Court takes pains
such competition— hence that the two classes of traffic
are carried under “ circumstances and conditions” that to brush it aside. We refer to the contention that it
are substantially dissimilar. The Supreme Court appar­ is the duty o f the Commission to so construe the Intere n tly endorses this view, saying in its opinion that State Act as to carry out the assumed policy of the
“ these and other u neon trover ted facts that appear in tariff laws. Speaking with regard to that point, the
this record would seem to constitute ‘ eireninstances and Court says : “ Our reading o f the A ct does not disclose
conditions’ worthy of consideration.” But the Com­ any purpose or intention on the part of Congress to
mission took the position that the dissimilarity wa3 not thereby reinforce the provisions of the tariff laws.

620

THE CHRONICLE.

Tntselaws differ wholly in tneir objects from the law
to regulate commerce. Their main purpose is to col­
lect revenues with which to meet the expenditures of
the Government; and those of their provisions whereby
Congress seeks to so adjust rates as to protect Amer­
ican manufacturers and producers from competition
by foreign low-priced labor operate equally in all parts
of the country. The effort of the Commission, by a
rigid general order, to deprive the inland consumers
of the advantage of through rates, and to thus give an
advantage to the traders and manufacturers of the
large seaboard cities, seems to create the very mischief
•which it was one of the objects of the Act to remedy.”
We notice that the ruling of the Court on this latter
point has stirred up some of our legislators, who pro­
pose to have Congress pass a law forbidding discrimin­
ation between import and domestic traffic. But in
view of the facts set out above, showing that neither
the merchants at New Orleans nor anyone else at that
point has complained, or apparently feels aggrieved,
what call is there for such an enactment ? And whom
would a law of that kind benefit in the case of the roads
and the localities involved in the action on which the
present ruling is made ? Obviously no one. Its only effect
would be to transfer to foreign transportation lines
traffic now carried by American lines.

T H E N O R F O L K & W E S TE R N R E O R G A N IZ A ­
TIO N P L A N .
The Norfolk & Western reorganization plan provides
a simple hut effective method for rehabilitating the
property. The task in this case of course was not so
difficult as in the case of some other embarrassed rail­
roads. The system is not a very extensive one, and
there is not such a great variety of liens to deal with,
and very few leases to adjust. A t the same time the
property preceding the receivership had not been al­
lowed to run down, and hence its physical condition is
good. Then also the company is burdened with only
a comparatively small floating debt, though in addition
the car trust obligations have been troublesome and to
retire the two together calls for quite a heavy contri­
bution in cash from the shareholders.
The Reorganization Committeo ascribe the com­
pany’s embarrassment to three main causes: (1) The
recently-constructed extensions, the full earning
capacity of which could not be developed in so short a
time; (2) the general depression, which resulted in the
reduction of rates, especially those for the transporta­
tion of coal; (3) the heavy payments on the principal
of car trusts, which had to be provided for to a large
extent out of revenue, there being no other means of
paying the same. As to the last of these causes, it
will of course be removed by the retirement of the car
trusts, as provided under the plan. Tae development
o f the business of the new extensions will come with
time and good management. The rate question pre­
sents a more difficult problem. Tae trouble arises out
o f the fact that a good part of the company’s traffic
consists of coal and that this coal has to be hauled
long distances to market and that it comes in o m p e tition with coal from mines which are much nearer the
market. But while this makes it impossible that the
road should get very high rates, it is not unlikely that
much better rates can be obtained than those which
have prevailed in the recent past.
The company’s business has grown fast enough, but
on account of the low rates and the increase in mile­

[V o l . L X II

age it has yielded a diminishing amount of net. In
the calendar year 1891, with gross of $9,183,042,
net was $3,334,920; in the twelve months ending Feb­
ruary 29 1896, with gross of $10,006,000, net was
almost a million dollars less, or only $2,395,000. The
prime necessity, therefore, is for a radical reduction
of the fixed charges. This the plan ensures. At
present the aggregate of the annual charges is $3,214,037, which is exclusive entirely of sinking funds,
rentals and interest on floating debt; under the plan
the charges will be only $2,230,444, a reduction of
roughly a million dollars.
This is a radical reduc­
tion and places the charges well within the lowest net
earnings of the property reached in the late year,
when the amount, as we have seen, was only $2,395,000. This amount, we are told, would have bsen
$300,000 greater except for the prolonged coal strike.
Hence, allowing for that we have charge! of $2,230,444, comparing with net of $2,695,000 with the
effects of the strike eliminated. We may say that the
average of the net for the last five years stands at
$2,853,199.
The reduction in charges is effected by converting
$34,230,000 of bonds now bearing 5 to 7 per cent in­
terest, in part into an obligation bearing only 4 per
cent and in part into a preferred stock bearing interest
only if earned. There are to be simply three main
issues of securities, namely $62,500,000 of 1st con­
solidated 4 per cent gold bonds, $23,000,000 of 4 per cent
Adjustment Preferred stock and $66,000,000of common
stock ; $23,388,200 of prior lien bonds are left undis­
turbed and $25,986,889 of the $62,500,000 of new
1st consols are to be reserved to take these up or pay
them off. It will bs observed as a good feature of the
arrangement that not merely a corresponding amount
of the new bonds is held in reserve, but enough more
to provide for the redemption of the old bonds on the
basis of 90 for the new bonds in case these latter should
not command par. Of the remaining amount of 1st
consols $23,322,675 will be needed to make the ex­
changes provided under the plan, $3,500,000 will
be ressrved or deposited in trust for the pur­
pose of taking up or paying off any existing ob­
ligations which shall not be taken up or paid out of
funds received by the Committee, and for other neces­
sary purposes of the new company (in certain contin­
gencies the company can issue that amount of new
Prior Lien bonds instead), and the balance ($9,690,436)
will constitute a reserve fund for future capital needs,
to be used at the rate of not exceeding $1,000,000 each
year. The holders of the new Adjustment Preferred
stock are to have the right to elect two-thirds of the
whole board of directors during the period of five years
after the reorganization of the new company unless
three full yearly dividends of 4 per cent per annum
shall have been paid on said stock before the expira­
tion of the five years.
In the case of the disturbed securities the basis of
exchange of old for new varies according to the merit
and priority of the bonds; and it is to be noted that
the Roanoke & Southern and the Lynchburg & Durham
are retained as parts of the system. Both the existing
common and preferred stock is to be exchanged into
new common stock, and both are to pay an assessment
of 12£ dollars per share; but the old common stock is
to get only 75 per cent of new stock, while the pre­
ferred is to get 112£ per cent of new stock.
We have stated above that the floating debt proper
is not large. Counting pay-rolls, receivers’ obligations

A pril 4, 1896.]

THE CHRONICLE.

collateral loans, etc., the amount la only $1,835,000;
the accrued interest on undisturbed obligations to Feb­
ruary 1 stands at $605,000, making altogether less than
24 million dollars. But in addition the car trusts,
which it is proposed to pay off, amount to $3,125,000,
and furthermore it is estimated that $1,882,500 will be
required for additional equipment, for improvements
and repairs, for expenses of reorganization, for commis­
sions to syndicates and bankers, expenses of formation
of new company and issue o f new securities— making
a grand aggregate of cash needed o f $7,437,500.
The
assessments on the shareholders will pro­
vide
the amount for this purpose. It is pointed
out
that should the net earnings of the com­
pany again equal those of some previous years
(when mileage was much less than now) they
will suffice to pay the full dividend on the new
Adjustment Preferred stock ; also that under the plan
the annual charges ahead of the new common stock
will be smaller than those ahead of the preferred stock
of the present company— a very important fact. In
1894, before the receivership, the charges for interest,
rentals and sinking fund amounted to $3,400,524,
while piyments on account of principal of car trusts
would for the next eight years have absorbed an aver­
age of about $425,000 per annum, making a total an­
nual charge of about $3,825,000 ahead of the old pre­
ferred stock. The total fixed and contingent charges
ahead of the new common stock (including the full
dividend on the Adjustment Preferred stock) will
amount to only $3,150,000.
Clearing* bv Telegraph,—Sales of Stocks, Bonds, the.—

621

of the Pacific Railroads, and the Treasury cash holdings,
all of the same date.
INTEREST-BEARING DEBT MARCH 81. 3890.
_
_„
Interest
Amount
r-------- Amount outstanding.------ —
Title of L om —
i
issued.
Begistered.
Cjupon.
Total.

AMSy Fundedloau, 1891
Continued at 2 p. c..
Is, Funded loan. 1907. .•
4s. Refund'gt ertifle’s.
5s, Doan o f 1904 ..
4s, Loan o f 1925...

§

250.OuO.000 25,364 500
..... ..... 25,364,500
740896J 50 490 257.850 69,376,950 5o9.< 3a,800
...................... ...........
48.390
40,012,750
100.000,000 o8,5*3,350 41.416.650 100,000,000
152,350,450 77,226,650 75,129,900 152,366.450

Total, excluding Pac. RR Bonds....................... 1,283,265,350 051,432,250 185,923.500 837,404,14©
DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY.
February 29.
March 31.
Funded Loan of 1891, matured September 2 ,1891.. $408,200 00
$400,200 00
Old debt matured prior and subsequent to Jan, 1, ’61. 1,259,430 26
1,259,310 26
Debt on which interest has ceased..................... $1,667,630 26
$1,659,510
DEBT BEARING NO INTEREST.
United States notes............................................. .................... . .$346,681,016
Old demand notes........ ............................... ....... ..........................
54,847
National Bank notes—Redemption account.. ......................... 21,291,999
Fractional currency.................................................. $15,208,423 14
Less amount estimated as lost or destroyed,.......... 8,375,934 00
— --------------- 6,892,489

36
OO
50
00
14

Aggregate of debt bearing no interest........... .
..$374,920,351 64
RECAPITULATION.
February 29,
M ach 31,
Increase or
1890.
1896.
Decrease.
ClassMcaUm of Debt
$
Inc. 14,78 .970 00
Interest- bearing debt.... . 837,4*^,140 00 82*2,615,170 00
1,667,630
26
1,659.510 26
Decrease 8,120 00
Debt .interest ceased.......
Debt bearing no interest.. 374,920,351 64 375,191,679 14 Decrease 571,327 50
Total gross debt........ .1.213,984, 01 90 1,199,774,479 40
Cash balance in Treasury.. 271,641,748 36 262, 0 ,006 65
Total net debt. .......... 042,342,253 54

Inc. 34.209,522 50
Inc. 8,934,741 71

937,067,472 75

Inc. 5,274,780~79

The foregoing figures show a gross debt on March 31, 1896
(interest-bearingand noninterest-bearing), of §1,213 984,001 90,
and a net debt (gross debt less net cash in the Treasury) o f
*942,343,213 54.
Pacifies Railroad bonds are never included in the official
total of the Government debt. The status o f these obligations
to-day is as follows. Methods o f book-keeping make the
official record unintelligible to mo<t readers, and hence w e
have brought together in our compilation, the leading facts
relating to the subject.
BONDS ISSUED IN AID OF PACIFIC RAILROADS.
.-Bends issued and—. — —Bonds paid, or date of maturity.— —>

Already Due Dm. Dm Jan. Due fan.
accum ulated int.
Name
Principal. Interest. paid. 1,1897. 1,1898. 1,1899.
of ftnilway.
3.962.000
2,112 > 0 10,614,120 9,197,000
Central Pacific... .25.885,120 3M 86,752
..........
Kansas Pacific... . 6,303.000 0,4 0,905 2.080.000 2,800,000 1,423,"0>
Union Pacific!...... .27,236,513 29,698,076 4.32'i,f>00 8,840,000 15,9X9.512 3,157,000
610,000 640,000
320,000
..........
Cent. Hr. U. P . .. . 1.600.000 2,108,957
.......... 320,000
.......... 1,650,560
Western Pacific.. . 1,070,5 0 3,136.802
.......
..... ... 1,628,320
. .... ...
Skmx City & Pac. . 1,628.330 2,443,181

The subjoined statement, covering the clearings for the current
week, is usually given on the first pa ge o f the C h r o n ic l e , but
on account o f the length o f the oilier tallies Is crowded oui
Total ..........61,023,512 78,274,073 11,002.000 9,712,000 29,904,952 14,004,560
once a month. The figures are received by telegraph from
T h e c a s h h o ld in g s o f t h e G o v e r n m e n t as th e ite m s s t o o d
the leading rities.
Tho occurrence o f (rood Friday in M a rch 3tat w e ta k e f r o m th e T re a su r y s ta te m e n t o f t h a t
the ■ :*>k of lii!,-. rear .v r o u n n in part far the io-s recorded.
d ate. T h e n e t ca sh b a la n c e g iv e n b e lo w is th e s a m e a s d e ­
d u c te d a b o v e in r e a c h in g th e n e t d e b t .

Week Ending April 4.

O iiA Soro#.
Retwrm by T.Airgraph*

is m .

1805.

Percent

S ew York..........................
Bm%m . . . . . — .. . . . ____
PatiodoipisiA,-*.—
.......
MMUmm-e
Chicago. . . . . . . . . . . . . . . . . . . . . . . .
SI. L ou is..........................
New Orlean*. .......................

14 73,101,265
*0.901,735
43,825,640
8,819,89*
77,707,177
18,373,537
0,745,040

#505,945,025
84,405,044
88.928,163
14,000,008
08,775,099
19,401,237
8,007,054

-0*5
-4 2
-3 4 5
-3 9 6
+ 13 0
-5 3
-10*4

S#**®. cm#*. 5 d a ja ........
Other cities, S day*...........

§709,474,SS8
110,094,02 3

*787.826,032
131,010.498

-7 6
-1 8 0

Total *11 elttee, 5 days....
All elttee, 1 day____ _______

«S 19.560,511
12S,019,381

#808,812.530
132,741,334

-1 8 9

#94 7,54.0,773

f 1,051,58-1, m83

-9 9

Total all oitte« for week

Another table, our usual m onthly detailed statement <f
transactions on the various New York Exchanges, has also
been crow ded off o f the first page. The results for the three
months of the current year are. however, given below and
for purposes of comparison the figures for the correspond­
ing period o f 1895 are also presented.
Three Montht, 1896,
Description. j: Par Value (
or Quonlilv

Admit
Value*

Three Months, 1895,

t e *

Par Vafm | Actual
or Quantity j Value.

U v$r*w
| Price.

1X396.476 1j «o,oir,6*a «o-8
j i*11 te.te-LO&O
*75.707,170! |.',h,670,633 73*9
9s.tm,nM\ #4,**il,«!!7 114*8
*717.331 26*1
\ |»8^l.300
ISlu.7 0 l&l-l
j
*2o5,6l6|

at,-,,'Jr jJ Sb
X
moe*
Val
> n -t
<
RT4. bondw., |mi,Hi %,ifOi *73.7WM * ■
1
lir, * *V ' 5 116*1
Gov*f. bond*: *»-. ' - 1
bonds
#4 i*,2o *i! m i
Back atockA
f)&MB0|
*327,165 173 7
Total..., [f11184*0900] 1808,740^90'j 83*4 j t m 0.709,488j S7W 4M 0I 01*7
»8»*S,6S5 180*04
Goiter*,.bis. ji 1»,4 te,0*Kf!
*91; #3T74 |
GTain.bu«h. [ 2‘>0,'135,i.)02j i m 146,S07 jm 7*10#] 816,748,790 •1S3^8U.>H 68118c
1
1*14741240651
Total value-J
! 111487889031

D E B T STA TE M E N T M ARC H -?/, 1896.
The following statement of
United States on March 31
official figures issued on that
give an interesting exhibit of

the public debt of the
1896, is made up from
day. Lower down we
the bonds issued in aid

CASH IN THE TREASURY.
Ooia-cotn
........................................................p t a n u M e e»
Iters...... - ............................................ 29. di e s 17—tl?l,885,709 ss
Silver—«>ol!ars ................... ................................. 87|.4«^&4 no
t8*f>8T.s6»» - 508,930,7** 53
Paper—United States n otes...............................
£0
Trcjisury notes of 1890..................... ............... 32 3^2,3'4 00
Gold certificates........................................... .
??
H.293,078 00
Silver certificates...................
Crtificates of deposit (Act June 8, 3.872).......
£29.000 00
vatlonal bank notes................................
7,110,997 73— 165,9o2,14S 75
Other—Bond$, interest and coupons paid, awaiting reimbursement..................................... ••**
,
£7
Minor coin and fractional currency..................
89
IHip'.'^Us in nat '1 bunk depositaries—gen’l acct,.. 23,1»|2,355 20
Disbursing -»flleera’ balances
............... — ...
3,008,033 75 — 28,200,349 01
Aggragate.
............. ............................
*874,968,947 13
DEMAND LIABILITIES.
Gold certificates........................
*43.822,409 00
Si1vor certificates
.... ................
..... ....... 8-4s,325,504 00
Gerti ficat of deposit, act June 8,1872..............
34,080,000 00
Treasury notes of 1890............................... ........ . I86,O«L280 00—f 002,909,258 OO
Fund for redemp. o f uncurrent nafcT bank notes 8 155 054 63
Outstanding checks and drafts ..................... ..
2.938.055 45
Disbursing <*ffleer *’ balaotces,.............................. 23.4 3.Ml o0
Auency accounts, &e.. . ... ...... .......................- 5.921,124 19— 40,4I/.945 7?
.......
.I
loO.OOo.OO0
00
_ __
Gold reserve ..
Net cash balance......................... 171.611,748 36.,...................
371.04X.748 86
Aggregate...................................................................................*874.088,917 18
Net, cash balance In the Treasury February 20, 1890.......... -......... 1763,707.000 05
Net cash balance In the Treasury March 31,1890......................... 2.1,011,*48 88
Increase during the month .......... ................ ..........................

18,934,741 71

F a i l u r e s f o r F i r s t Q u a r t e r o f 1806.— T h e f o llo w in g fig ­
u res, p re p a re d fr o m M essrs. R . G . D u n & C o .'s s 'a t e n a m '.s h o w
th e n u m b e r o f fa ilu r e s in th e U n it e d S ta tes a n d C an ad a d u r ­
in g th e q u a r te r e n d in g M arch 31, 1896
F o r p u rp os es o f c o m ­
p a r iso n lik e fig u res fo r th e c o r r e s p o n d in g p e rio d o f th e p r e c e d ­
in g y e a r a r e g iv e n :
,— Quarter en d in g -—
Quarter ending-*.
March 3 1 ,18 '6.
March 3 1 .189c.
No, o f Amount o f
No.nJ
Amount o f
Slater and Territories.
Failures. Liabilities. Failures. Liabilities*
New England S t a le s ,- ....- .- .
450 $(V237,b93
“ 6 S7,2*»i,,4S
Middle M A tri.. . . . . . .
.
- l . ntfi
l-> 5 6 ,* < ;8 952
13,928,500
851
P.-bl^S10,157,191
Southern Stolen......................... 697
5.881.596
314
2 . 1 1 8 ,9 2 0
Soulbwerterti States............... 402
544
10,0 6,556
9 ,7 8 1 ,0 9 7
Central S la t e s .......................... 603
3,372,569
343
2,530,981
Western States........................... 422
2,748,262
322
2,551,20$
Pacific States and Territories. 351
Aggregate United States.......4,031
Dom inion o l Canada.........

738

$57,425,135
$5,745,540

3,802
556

$47,813,6311
$4,220,195

THE CHRONICLE.

622

Ip X o u e ta rg I ® 0 r a m e r c ia ll$ t t g lis fr j§ t e m s
[F rom our ow n correspondent.!
L on d on , Sa t u r d a y ,

Mar. 21, 1896,
A t the beginning of the week the excitement in Paris beause of the proposed advance of the Egyptian troops to
DoDgola intensified political apprehension. The press was
writing in rather a bellicose strain, and what purported to be
a semi-official note was published, giving a version of a con­
versation between the French Foreign Minister and the Brit­
ish Ambassador, which had a very threatening look. Since
then, however, the Minister for Foreign Affairs has explained
to Lord Salisbury that the note was published without his
authority and without his knowledge, and the language of
the press has become much more moderate. Furthermore.
Germany, Austria-Hungary and Italy agree to the demand of
the British Government that the Egyptian Government should
be allowed an advance of half a million sterling out of the
Caisse of the public debt. As Germany is thus supporting this
country, it would seem that the visit o f the Austrian Foreign
Minister to Berlin has been at all events to some extent suc­
cessful in bringing about a better understanding between the
two governments. The Italian Government has been using
all its influence at Berlin, and indeed it has expressed its
gratitude for England’s action in Africa. There is a very
general impression that Russian influence is being used to
moderate French opposition. The Czar’s coronation is fixed
for the 26th of May, and he naturally wishes that nothing
Bhould occur to mar the splendor of the ceremony. The be­
lief is therefore gaining ground that peace will be main­
tained, that the Balkan States will be kept under control, and
that at least for another year hostilities will be postponed.
The war scares have undoubtedly checked business. Trade
is certainly good, but new enterprise is held {back and money
is accumulating in immense amounts. Vast as are the re­
ceipts of the public revenue they have scarcely any influence
upon the current rates of interest and discount.
On Tuesday the bimetallists raised a debate in the House of
Commons, in the course of which the Chancellor of the Ex­
chequer declared emphatically that while there was a differ­
ence of opinion in the Cabinet as to whether bimetallism is or
ip not desirable, the Cabinet was absolutely unanimous in its
decision to make no alteration of any kind in our monetary sys­
tem. A t the same time the Government is ready to enter into
negotiations; but such negotiations are not likely to come to
much when it is known beforehand that the British Govern­
ment will make no change of any kind. Silver, in conse­
quence, has given way somewhat; and the market is further
weakened by the decline in the Indian exchanges. The Indian
Council has failed to sell its drafts for two weeks in succes­
sion. This week, out of 60 lakhs offered it sold only about
5J£ at Is. 2J^d. per rupee. The previous week it sold a little
more than 2 lakhs—also out of 60 lakhs—but the price was
then Is. 2%d. per rupee.
The new Chinese loan is expected to come out very shortly
now. The first instalment is to be? for 11 millions sterling, the
rate of interest 5 per cent and the issue fprice about 9834- It
is understood that the bonds will be offered half in London
and half in Berlin. It is not thought probable that the issue
will be successful in London for the price is undoubtedly too
high. The loans already secured on the Chinese Customs rev­
enue amount to about 25 millions sterling. The new loan
will raise the amount to 35 millions sterling. Then there is a
balance of 6 millions, which would raise the total to 41 millions
sterling. And it is understood that another 6 millions will
afterwards be raised. Considering that in the very best year
recently the surplus revenue of the Chinese Government was
under a million and a-half sterling, this seems an enormous
debt for so undeveloped and backward a country.
Business in the Stock Exchange is quite paralyzed by the
prevailing political uncertainty. Everybody hopes that all
the various questions pending will be settled amicably; but
there is so much angry feeling in so many different directions
aDd at the same time there is so much unrest and so much
financial distress that nobody feels quite sure that hostilities
may not suddenly break out. In spite, then, of the enor­
mous accumulation of unemployed money and the difficulty
of finding safe investments to yield even a moderate return,
the public generally is holding aloof. Perhaps it would be
more correct to say that the public is waiting to see the re­
sult of political developments.

[VOL. IiXII,

In the American market absolutely nothing is doing. The
speculative element is looking on the market more favorably
than heretofore, and if the Venezuelan question was settled,
the various railway reorganizations were carried out, and gold
shipments do not begin again, it is possible that there may be
a revival of activity in the market.
In the International market there is also an absence of
business. The support given by Germany to this country in
the Egyptian matter and the decision o f the new Italian Cab­
inet to continue the Triple Alliance strengthen the hopes o f
peace. But still the Italian disasters in Africa are very seri­
ous and must have a considerable influence upon politics,
while the finances of Spain are almost desperate. In the
South African market there is not much doing but there is
undoubtedly a better feeling. The hope is entertained by
those who ought to be well informed that President Kruger
will start for London next month and that a perfectly satis­
factory arangement will be arrived at. The labor difficulties
are being gotten over, good rains have fallen and the purely
industrial prospect is, therefore, satisfactory. But business in
this department, just as elsewhere, is kept in check by politi­
cal unrest.
The following return shows the position of the Bank o f
England, the Bank rate of discount, the price o f consols, & c.,
compared with the last three years:
1896
1895
1894.
1893.
Mar. 18
Mar. 20.
Mar. 21.
Mar. 22.
£
X
£
£
Ctrcniation............................... 25.C18,615 24,079,400 21,526,015 24,445,7 05
19,175,392 12,155,153 12,025.522 10,915,411
Public deposits....................
Other deposits ......................... 46,115,323 29,939,098 23,572.554 27,254,537
Government securities............. 15,157,328 12,409,488
8.933.583 11,209,809
Other securities ................. .. 27,600,665 18,480,432 27,198,010 20,320,127
Reserve of notes and coin......... 40,896,329 29,483,452 22,905,703 19,078,701
Coin & bullion, both departm’ ts 49,114,944 37,362,852 30,631,710 27,072,466
62«
69 13-10
Prop, reserve to liabilities, .p.c.
50 3-16
493*
Bank rate ....................per cent.
2
2
2
2*
109*
Consols,
per cent .... .......
101 7-10
99 11-16
98 1-16
Silver ........................................
31*d.
28 ll-16d.*
27«d.
37%d.
Clearing-House returns............ 165,116,000 157,383.000 145,202,000 122,745,000
* March 21.

Messrs. Pixley & Abell write as follows under date of
March 19:
Gold.—The inquiry fo r export has som ewhat slackened, bu t stil 1
there are demands enough to prevent any bar gold reaching the Bank,
w hich since our last has only received £71,000 in coin; and £5 6,00 0
has been sent to Buenos Ayres. A rriv a ls: From South A frica, £ 1 2 6 ,000; R iver Plate, £33,000; Bom bay, £65,000; total. £2 24,0 00. Ship­
ments to March 13: To Bom bay, £5,000; Caloutta, £72,500; P ort
Said, £80,000; total, £157,500.
Silver.—F or a few days after our last issue considerable speculative
inquiries, together with large purchases of the “ ca ll" o f silver for June
delivery, m ore than sufficed to m aintaiu rates, the very poor allot­
m ent of Council hills yesterday has caused weakness in the Eastern
exchanges, and, failing outside support, the m arket has given way.
A m erica has sold none at the deoline. Arrivals : From New Y ork,
£ 1 93,0 00; River Plate, £3 ,000 ; total, £196,000. Shipments : To Bom ­
b a y, £98,000; Japan, £3 5,00 0; total, £133,000.
M exican D ollars.—Business took place at 31 %d. this week, but In
sy mpathy with the easier silver rates the m arket is rather weaker.
A r r iv a ls : N ew Y ork, £41,000. S hipm ents: Straits, £5,400; China,
£ 80,500; total, £85,900.

The quotations for bullion are reported as follows :
GOLD.

London Standard.

Mar. 19.
s.

Bar gold,flne....oz.
Bar gold, parting, oz
Spanish Old....... oz.
Do. New — os.
U. 8. gold coin. ...oz.
German gold coln.oz
French gold coin.oz

77
77
76
76
70
70
76

d.
9*
10
0
2
4
3*
3*

Mar. 12.
8.
77
77
76
70
70
76
78

d.
10
10*
0
2
4*
3H
3*

S IL V E R .

London Standard.

Mar. 19. Mar. 12

d.
d.
Bar silver, fine. ..cz
31 7-10
SIM
Bar silver, contain31 13-16
31%
ing 5 grs. gold..oz.
Cake Bilver.........oz. 3311-16 33 15-16
Mexloan dollars..oz.
31 «
31H

E n g lis h F in a n c ia l M a r k e ts —P e r C a b le .

The daily closing quotations for securities. Sco., at London
are reported by cable as follows for the week ending Apr. 3:
L ond on.

Sat.

BUver, per o z ..... .......... d. 31%
Console, new , 23, p. ots. 109Ule
30 9 *
Ft*eh rentes (In Pa-ris)fr. 01-37 *
Atob. Top. & S. F e......... 15ie
Canadian P a o it lc .......... 5 5 *
Chesapeake <fe O hio....... 16
Chie. fifilw. & 8t. P a u l.. 757s
D cnv. & R io Grande, pfd 4T3Q
E r ie .................................... 14%
do
1st preferred.
70
96*
Illinois C entral..............
Lake Shore...................... 1491s
Louisville & N ashville-- 4 9 *
Mexican Central 4 s .......
7m
tfo. Kan. & Tex. com __
ilk
ST. Y. Centra] <fe Hudson 98i«
ST. Y. Ont. & W estern... 14%
638
Norfolk & Weat’n, p r e f.
Northern Pacific, p re f.. 1178
54%
P enn sylvania................
5
Phil. <fc Read., per share
Southern R y ., c o m .. ....
8%
2
9*
do
p ref’d ..............
6*1
Union PaelBc..................
16*
Wabash, pref........... —

Mon.

Tues.

Wed.

31%
3114
31%
10978 1(91316 109U,a
10978 10913, f
109*
01021* 101-35 01-52%
15%
15*
16*
55%
56%
56%
16
16*
16*
76 34
76 *
76%
47%
47%
47%
15%
15*
1518
39%
V o ir
V o*
97%
97*
97*
1491* 149% 1 4 9 *
50%
51
51*
71
71%
71%
11*
11%
11%
98*
99
99
14%
14*
14%
6 7e
7
6%
1138
11%
11*
541*
54*
51%
5
5
5
9*
9%
9*
29%
29%
30*
7%
7%
7%
17*
17
18*

Thurs.

F ri.

31%
10913,«
109i&ip
101-65
16*
56%
16*
77%
15*
40
97*
150
51*)
713l
123q
98*
14%
6*
12%
54*
5%
9%
30*
7%
18

1*'
Q

A pril 4, 1896,]

THE CHRONICLE.

© o m r o e x c ta la u d H U s c e lla u e o it s H e m s
uovEiiNMKNT R e v e n u e

and

E x p e n d i t u r e s . —Through the

courtesy o f the Secretary o f the Treasury, we are enabled to
place before our readers to-day the details o f Government
receipts and disbursements for the month o f March, From
previous returns we obtain the figures fo r previous months,
and in that manner complete the statement for the nine
months o f the fiscal years 1895-96 and 1894-95.
receipts

(OOOa omitted).

1894*5.

L893-0.

July-..
a m ....

Sept....
Oct- Nov....
Dec....
Jau.....
March..
9 mo#-

MUc'l lotal. 0u#- Intern N.Bk.
<h»Bed’p. MUc*i Total.
tome. Bev’ut- Fufid. Frees
Fund. S’rcu
torn*.
i
t
i
«
t
t
i
t
$
%
1A»?7 12^98 182 2.091 29.231 8,427 25J00 838 4,182 85,897
11*805
27.562
833
1.142
29.309
15.«!3V 12.172 350
l.«0 11,050
14,811 12^50 476 036 23.028 15A65 6,182 1.590 871 24,217
14,347 13,764 487 1,010 30,208 12.4‘ 3 6,019 1329 L823 22,104
11.455 13,940 «1C l .« l 28,598 10,261( 7.774 2,481 1,370 21,892
12.J69 12.751 saa i,3aa 28,851 11,203 9,391 1,241 1,201) 23,048
17,375 11.170 133 s^sn 31,375: 17,608 9A17 1,100 1,975 29,098
13,908 1030? »«2 K34*3 27.031, 13.333j 8M& 213 tm 23,101
13.3** 11.536 811 1.181 MUM*’ H.930 1)^66 514 688 35,985
ismjm H0.404 K m 13.2*0 251,849 115.33-5 109.^3 » « s 10.SUIftt3.S12
ownuRAewessmi (000* omitted.)

Pm- | In- N,3kBed'p. lotm
Ham, tmrmt PmL
$
1
*
»
i%$m 7.OH 942 87.390
Bit 716 32,374
iu m
12.500 im 770 31,093
5.99: E5,Q9S
11,06.3 5,194 726 33,439
1.090
15.319 w m
tm U57 29.631
919, 90,74 14,094< l$jm no 1,113 28,91?
MU* S3U94 1TJWU ILOM 7,9*0 1,414 -16,937
M<>3 XIJM& U.«Gi 194KB0 IJtl 1*830! 37.055
owj
ISWf 11,018 213 i^ie! 26.90J
w jm 9.wa&>,3«3
~i5gy yrr.itT
Ordi­
nary,
i ! »
*
074130.M* 10,7338
647j 33^*<$ 19.411
935, -25,353 17,411

iTt" !ht>Tp. Total,

HOfiS, termt: iMmL-

I
I
; •
loir... : m,m 18,753 7,m

A w ... j iB,m i Ksm 1^40

a«ps-.. I mum 10.TO* 7m
O c t ... j 17.434 1LBD1 5,1*5*
13.233
Not...
D«o . 144*8 UM7 m
Sma,... »* l » i
12M 18,817
Mireft. ujm\ 11*910
» mm

197,141 mj833

N a t i o n a l B a n k s . — Th e f o l l o w m g i a f o r m a t i o n r e g a r d in g
n a tio n a l b a n k s is f r o m t h e t r e a s u r y D e p a r t m e n t :
NATIONAL BANKS ORGANIZED.

5,030—The Pir*t National Bank o f West Plain*. Missouri. Capital,
f50,0OO. ------ — — » P residen t; If. T . Smith* Cashier.
CORPORATE SXUmUtCS EXTENDED,

2,320—TUo Ptrst National Bank of Connetl*vlt)e, Pennsylvania, until
March 25, W m .
IN LIQUIDATION4,911—'Th* Rockwall Chanty National Bank of Rockwall. Texas, has
gone lot** wAiiutmrf Wottldation by resolution of it* stock holder# dated January 14, 1890,

623
Exports.

Silver.

Week.
Great B ritain............
F t&n<3Q*-37—-s-»sr
Qermany...............
West Indies...............
M e x ic o -.................. .
South A m erloa..........
A lloth er eon n tiles..
Total 1896..........
Total 1895..........
T otal 1 8 9 4 ... ....

Imports.
Week.

Since Jan. 1.

$750,150 $11,625,724
151,000
1,275
4,025
14,624
247,407

$6,557

96,528
485

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

Since Jan. 1,

$917,049 $12,561,343
452,144
7,198,452
520,160
9,785,550

23,754
49,155

44,882
259,982
323,915
11,341

$72,909
27,548
12,878

$646,677
308,801
403,971

O f the above imports for the week in 1896 $855
were American gold coin and $27,150 A m erican silver coin.
Of the exports during the same time, $184,150 were A m er­
ican gold coin.

City Railroad Securities—Brokers’ Quotations,
Allan. A t ©., B’klyn—
Con, 5a, g., 1931..A & 0 5106 110
85
Ixnpt. 5 a, g.. 1934.. J<&J
Sleek. St. «fc Ful.F.—Stk. 28 >s 30

Christ’p’r&lOth S t —Stk.
1st mort,,1888 ...A«feO
D. D. B. B. & Bat’v—Stk.
1st, gold, 5s, 1932. JtfcD

Brooklyn Rapid Transit. 21 N 21
B’ way &7th Ave.—Stock. 192
1st raort., 5s, 1904. J &I) {10SK 107%t
110
2d mort., 5s, 1914.J<fcJ
___8
B’ way 1st, 5s, guar. 1924 ii?
o
2d 5a.int.as rent’L 1905 1104*a 106
ConsoL 5a, 1940... J AD i 113 113>a
Brooklyn City—Stock... J 169 169
Consol. 5s, 1941...J&J 112 ^
Rklyn. Cross t' n 5s. 1908 105
Bkl’n.Q'tytCo.&Snb.lst 98 100
Bklyn.e. 40P wC wrn-Stk 150
5a, 1939
.......U i0
B’ klyn Trac.. 1st adrfpd. 10*9 11
Preferred. ................. 46 ^ 47
Central Crosstown—Stk. 190 205
1st M-, 8s. 1922...M&N 1118
C en.Pk.N.AE.Riv.-Stk. 160
ConaoL 7s, 1902. , ,JAD 114 116
Columbus A. 9th Ave. 5s. 1 111 112

Eight? Avon tie—StockI
Scrip, 6e. x914..............
42d<fe Hr. S t Fer.—Stock
42d 8t.& Man.&StN.Av.
1st mort. 6s, 1910.M&S
2d m ort income 6s. J<fcJ
L on,Ave. & Pa v. Ferry 5s.
Metropolitan Traction..
Ninth Avenue—Stock ...
Second Avenue—Stock­
is t m ort, 5s, 1909.M&N

Istraort., 7b, 190O.J<feJ 51083.

10030

Avenue—Stook....
Third Avenue—S tock'...
1st m ort, 5s, 1937. J & J
Twenty-Third S t —St’k.
Deb. 5s. 1903..........
Union By—S took. . . .
1st 5s, 1 9 4 2 .........
Weatohest’r, l8t,gu.,5s.

$ And accrued interest
x Ex-dividend,

B m S ecu rities—Brokens Quotations,
0A S COMPANIES.
Bronkirn Gas-Light........
Central............ ........
Consumers’ (Jersey City).
B o n d s -.....,.___. . . . . . . .
Citixena’ (B rook lyn )......
Jersey City A Hoboken..
:.-outan—B onds.. ...
Mutual <N. Y ...............
Nassau (B rooklyn)...—
Scrip...—. ...... .................
N. f . A East Riv. 1st 5a.
Preferred ....___ .. .
C om m on.__ ______ ....
ConaoL 5»......... .

Bid. Ask.

0 AS COMPANIES.

Bid, A ik,

People’B (Brooklyn). .....
Peoples’ (Jersey City).—,
160
Metropolitan (Brooklyn) .
80
Williamsburg...................
103
1st 6s..............................
100
180
Fulton M unicipal....— ..
106 109
Bonds, Qa........... ...........
226 240
Equitable— . — ........ .
Bonds. 8s, 11199.........
300
St. Paul.............................
100
Bonds, 5s......... ..............
101
r 0 74 Standard pref............. . . . ’
85 30*3 Comm on............. . . . . . . .
87^, Western Gas................... .
86
Bonds, 5s................... ...
i And Aoorood Intsro.t.
* E x rl®ht«.
150

100

170
230
300
106

175“

200

105
208
105

212

66 10*I

84%» 87
107 h 109
76*51 78

65*51
$88** ! o
7h,

I mports and Expo r ts fortius W eek . —The follow ing a r e
the importa at New Y ork for tho week ending for dry g o o d 8
A u ction Sales.—A m ong other securities the follow in g no
March 36 and fo r the week ending for general merchandise
March 2T ; also totals since the beginning o f the first week regularly dealt in at the Board, were recently sold at auction'
in January,
By Messrs. R, V . Harnett & C o.:
roMsios a r o t T i at n w tomk.
For Week,

1893.

Dry G o o d ,,.,,.
D e a l taer’dl**.

189 4.

1896,

*1. V25.410
8,778.997

*4,024,356
9,840,472

*14,331,387

*8,304.407

*43,664,828

*9,457,475

*42,095,582
119,379,31*

*23,285,045
80,455.973

*42.178,369
32,602,185

*37,935.271
81,802,332

*2,453,603
41,077,704

Since Jem. 1,
Dry G o o d ,.......
Gen'l mer'dlae.

4895

*2,576,124
6,931,354

Total 12 week, *182,571,8*0 *403,440,988 *134,780,654 *418,637,603

The imports o f dry goods for one week later w ill be found
n oar retwrt o f tin dry g ,>4» trade.
The follow ing is a statement of the exports (e x c lu s iv e of
specie) from the port o f New Y ork to fo r e i g n p o rts for the
wsek ending March 31 and from January l to d a te :

Shares.
1 Clinton Hall Assoo!at’ n .$57
113 Liberty Ins. Co___$12 fo r l o t ,
2,725 Ward Cons. Mining Co.$65
Bonds.
$6,500 Plitenlx Consol. Gold
Mining Co, 6s.......... $100 fo r lot.

Shares.
400 The Celluloid C o .............. 66
10 Bank of Hew Y ork.........237*2
S Ninth Nat'I Bunk .......... 112
286 Barney Dump’R Boat Co. 8
12 Westohoat'r Fire Ins. Co.,

New Rochelle, N. Y....171
By Messrs, Adrian H, Muller & Son

Shares.
Shares.
5 Central Trust C o............... 1016
21 Murray HIU Bank o f N,Y. 219
25 Jersey City B ark's Co.$30p,sU , 25 National Safe Deposit Co. 96%
5 Columbia B a n k ..:............. 185
8 N. Y. & Boston Ins. Co. of
9 0 Broadway Ins. Co. l l O V l l o t i
N, Y. ($75 per share paid
in liquidation)..............$8 lot.
Bonds.
$8,000 H eoker- Jones -Jew ell
1 Chemical Nat, B a n k ....... 4110
MlU’gC o. 1 s t6s, 1922,M&S. 99%
80 D. 8. Fire In». C o............... llO ki
2 Ceorjjia HR. & Bank’s Co .166>-j $116,000 Green R iver Coal &
Coke Oo. 1st 6s ............$5,000 lo t
40 luternat'l R ockPlaat’rC o, 25

«rxforts p r o , s e w t o *® p o a t u b * n t .
1893.

1

1894,

|

p r o b in g

1896

1895

For the w eek ..;
Frov. reported.

*6.461,490
70,970,461

97.314,317
80,5973534

*6,320,452
7*.448,186

*7,839,927
84,308,377

Total 12 wselt*

*77.431,931

>37.012,031

*30,802,938

*92,148,301

Tne follow ing table shows the exports and imports o f specie
at the port o f N e w York for the week ending M a rch 23 and
« n c e January 1, 1896, and for the corresponding periods in
1895 and 1894:

S p en cer

Week,
Great Britain.........

|

| 0tn eeJo»,l.

Week.

I N V E S T M E N.T

S amuel

Since Jan. 1.

Boutb Amr-rloa.......
All other countries

$ ............ $11,126,639
2,164,869
18
182,265
19,029
3,365,566
165,470
1,186
16,289
300,548
26,885
95o

Total 1 8 9 6 .......
Total 1898.......
Total 18 94....... .

#186,225 *12,777,210'
360,969 29,934.240
208.840: 8,094,499

*37,972 *17,338,241
296,351 11,939,953
2,943,317
190,874

gnw ea..,.__ _____

G e r m a n y ............... .
West tndie#. . . . . . . . .
H n x t r r ,...... ...................

T rask

&

C o .,

27 A 29 P IN K S T R E E T ,
65 State Street, Albany.

Imports.

$ .......... 99,650,916
............ 1
820,250:
2,000,
4,370.
15.425
121,371
............ I
........... 1
168,900
2,190.400
............ 1
.............:

ifiu a iic ta X .

BANKERS,

BIFORT* AIO) IMPORTS OP SPRCIB AT WRW TURK.

Srports.

a u tl

NEW

YORK.

S E C U R IT IE S .

D. D avis
BANKERS,

& C o .,

NO. 40 W A K E S T „ N E W Y O R K .

S amoeb D. Da vis .

O bas . B . V an Nostrand ,

Oaoao* BARCtAY Molt vr.

M
30

p i n e

A luxaudbr M. Whitr. Js

o f f a t a W
BANKERS
s t r e e t

,

-

h i t e
-

n e w

INVESTMENT SECURITIES.

,
t o r

*

THE CHRONICLE.

624
g lu e

25@50e. per $1,000 discount; Chicago, 25c. per $1,000 pre­
mium ; St. Louis, 50@60c. per $1,000 premium.
Posted rates of leading bankers are as follows:

f B a n k m ' (g a ^ e ti* .
It I v IU B N D S .

Name o f Company,

Per
Cent.

R a ilr o a d s .
Berkshire (q u a r.)...........................
I1®
2ia
Boston & P rov. guar, (quar.)___
C oncord & Montreal—
Classes 1. i, 3 «i 4 (quar.)........
1%
2
Cum berland Valley (quar.) .......
E el R iver guar
........................
1%
2%
European & North A m erican .
l*a
Northern N H (q u ir ) ...............
Old Colony (quar.) .......................
1%
319
Sioux City & Pacific p r e f ......... .
R an k s.
N ew York Produce E x ch a n g e ...
m is c e lla n e o u s .
2
A m erican T obacco com . (quar.).
do
do
co m m o n ........ 20 f
2
do
do
pref. (quar.)
H . B. Claflin com. (quar ) ............
1%
do
1st pref. (quar.)___
1H
do
2d pref. (quar.)____1 1 J*2
Newton (Mass.) Sr. Ky. (quar.)..I 2
New Y ork & N. J. Telep. (q u a r.).I 1^
3
North Chicago Street Ry. (quar.)

°}

When
r a y able.

Apr.
Apr.
Apr.
Apr.
Apr.
A pr.
Apr.
Apr.
May
Apr.
May
Apr.
A p r.

Apr.

A pril 3.

Books Closed.
( Days inclusive.)

1
1
6
lft
1
1
1

to
to
to
to
to
to
to

1 Apr. 16 to M ay

1

1 5 1Apr. 5 to Apr. 15
lj
to
1
to
15
to
11
to

W A L L S T R E E T , F R I D A Y . A P R . 3. 1 8 9 6 - 5 P . M .

C a p ita l.............—
Surplus............. .
Loans & disc’nfcs.
C ircu la tion ........
Net deposits.......
S ie c ie ...................
Legal tenders—
R eserve held.......
Legal r e s e r v e ....
Surplus reserve

$
61,122,700
72.833,300
464,996,400
14.216.000
482,215,500
58.931.000
79,769,400
138,701,300
120,553,875

$
D ec.2,529,900
Inc.
18,000
D ec.5,842,600
I n c . 416,600
Dec. 2,7 72,500
Dec 2,355,900
D ec 1,460,650

18,147,425 Deo.

895,250

Demand.

United States Bonds.—Sales of Government bonds at the
Board include$299,000 4s coup., 1925, at 116^ to 116%;$20,000
4s reg., 1925, at 116%; $3,000 4s reg., 1907, at 108% ; $48,000
4s coup., 1907, at 110% to 111, and $4,000 5s coup., at 113% to
15 Apr. 7 to Apr. 15 113%. Closing prices are as follows :

The Money Market and Financial Situation.—While there
has been no marked change in the general conditions there is
a decidedly more hopeful feeling in financial circles than ex­
isted a week ago. This is due in part to the absence of gold
exports, which last week seemed imminent, to the favorable
reports of railway traffic, especially o f the granger roads, and
to the easy condition of the money market. In addition to
the above the fact that our diplomatic relations are becom­
ing more settled and the hope of an early adjournment of
Congress are looked upon as favorable features.
The demand for investment securities continues limited, but
the change of sentiment in W all Street and absence o f any
selling pressure has resulted in advanced quotations for nearly
all classes of bonds and stocks.
The placing o f some sterling loans in this market has helped
to keep the foreign exchanges steady and to prevent an ad­
vance of rates.
The increasing traffic reported by the corn-carrying roads
calls attention to the fact that the immense corn crop of 1895
is beginning to find a market. This movement if general
will not only result in great activity by the railroads directly
affected, but will put in circulation a large amount of money
and be beneficial in many ways.
The open market rates for call loans during the week on
stock and bond collaterals have ranged from 2 to 4% per
cent. To-day’s rates on call were 3J^ to
per cent. Prime
commercial paper is quoted at 5J^@6 per cent.
The Bank of England weekly statement on Thursday
showed a decrease in bullion o f £1,641,262,'and the percent­
age of reserve to liabilities was 59'24 against 63 T3 last
week ; the discount rate remains unchanged at 2 per cent.
The Bank of France shows a decrease of 6,975,000 francs in
gold and 2,350,000 francs in silver.
The New York City Clearing-House banks in their statement
o f March 28 showed a decrease in the reserve held of $2,355,900
and a surplus over the required reserve of $18,147,425, against
$19,042,675 the previous week.
1896.
B iff even'sfrom
March 28.
Prcv. week.

Sixty Days.

Prime bankers’ sterling bills on L ondon.. 1 SB's * 1 89 4 89% ® 4 90
Prime c o m m e r o ia l......... ............................ |4 87%®4 87%
Documentary oom m erolal.......................... 4 86% *4 S7
Paris bankers’ (franos)............................... 517%®5161310 515% ® 514i6lg
Amsterdam (guilders) bankers.................
40% ® 403la \4 0 t,(i'® t0%
Frankfort or Bremen (reiobmarks) b ’kers’ 1 953lc® 95% i 95 % ® 95U 18

to
to

Apr.
Apr.

[V o l . L X II.

1895
March 30.

1894
March 31.

$
62,622,700
71,046,800
482,524.100
12.895.600
504,240,200
65,578,900
73.894.600
133,473,500
126,060,050

$
59,922,700
70,690,600
443,798,700
11,214,100
547.744.200
100.184.200
120,352,000
220.536.200
136,936,050

13,413,450

83,600,150

Foreign Exchange.—The market for foreign exchange has
remained firm, with only slight changes in quotations. On
a limited supply the demand has kept the market bare of
bills.
To-day’s actual rates of exchange were as follows: Bankers
sixty days’ sterling, 4 87%@4 88; demand, 4 88 ^ ® 1 89; cables,
4 89@4 89^.
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah buying
1-16 discount, selling par ; Charleston, buying par, selling %
premium; New Orleans, bank, $1 50 premium; commercial

Interest March March March A pril A pril
Periods 21. | 30. | 31.
1.
2.
2s,
......... . .reg.
4s, 1 9 0 7 .......... reg.
4 8 ,1 9 0 7 __...,o o u p .
4s, 1925............. reg.
4s, 1925.......... coup.
5s, 1904..............reg.
5s, 1904...........ooup.
6s, our’ey,’ 97. .reg.
6s, our’cy,’ 9 8 ...r e g .
6s, our’oy,’ 9 9 .. .reg.
4s, (Cher.)1896.reg.
4s, (Cher.)1897.reg.
4s, (CUer.)1898.reg.
4s, (Cher.)1899.reg.

95 * 95 ,* 9 5
108% *108% 108%
110^8 111 110%
116% 116% *116%
116% 116% 116%
113% ' 113% *113%
113% 113% 4 1 3 %
102 ,*102
403
105 *105
405
4 0 7 % *107% 4 0 7 %
100 ,*100 4 0 0
4 0 0 *100
400
4 0 0 *100
400
4 0 0 *100 4 0 0

* 95
* 101%
*x03%
*116%
116%
*113%
113%
40 2%
405
407%
400
400
400
400

A pril
3.

* 95
*103%
409%
*116%
*116%
*113%
*113%
102 %
105
107%
100

Q
H
l->
o
W

*100

100 |
100 I

* This Is the price bid at the m orning board, no sale was made.

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

Date.

3

2,135,683
2,344,6< 2
24 29,2 14
2,7 m,734
2,521,97 2
1,932,731

Total

11,270,936

Mar. 28
30
31
Apr. 1

2

Payments.

Balances.
Coin.

2,493,199 128,304,639
2,023,638 128,312,335
2,3 35,470 128,378,149
2,371,699 128,403,471
4,679.528 128.077,662
2,905,509,127,975,619

Coin Cert's. ] Currency.
3,377,9971
3, 4 3 ,7 6 7
3,257.219
3,200,310
3,201,928
3,072,605

92,669,514
93,136,963
93.281,429
93,648,062
91,811.697
91,073,285

16.864,0931

Coins.—Following are current quotations in gold for coins :
® $4 92
Sovereigns........... $4 88
N apoleons........... 3 86
® 3 92
X X Reichmarks. 4 70
® 4 80
25 Pesetas........... 4 76 ® 4 82
Span. Doubloons.15 55
® 15 75
M ex. D oubloons.15 50
® 15 75
Pine gold b a rs... p a r ® % p r e m .

Pine silver b a rs... — 68% ® — 69%
F ive fra n cs.............— 90 ® — 95
M exican d ollars.. - 54% ® — 55%
Do unoom’ e i a l . . ------- ® — —
Peruvian sols........ — 48% ® — 49%
English silver . . . 4 80 ® 4 s 0
U. 8. trade d o lla r s — 65 ® — 75

State and Railroad Bonds.—Sales o f State bonds at the
Board include $33,000 Louisiana cou. 4s at 97 to 9 7 $ 2 3 , 5 0 0
Virginia fund, debt 2-3s o f 1991 at 61 to
and $1,000 Tenn.
settlement 3s at 85J£.
There has been a better m arket for railw ay bonds this
week than for several weeks past and prices have decidedly
improved. Northern Pacific and Atchison bonds have been
most conspicuous for activity. The Atchisons, Mo. Kan. &
Texas, Chicago & No. Pacific and Wis. Central issues have
advanced an average of over 2 per cent and the Texas &
Pacifies and Readings nearly as much. Northern Pacific,
Louisville N. A. & Chicago and Ches. & Ohio bonds are
about 1 point higher than our last quotations and fractional
advances have been made by several other issues, including
Kansas Pacific, Ore. Short Line, Wabash and Southern Ry.
of the active list.
Railroad and Miscellaneous Stocks.—The stock market
has improved in tone during the week and the volume of
business has increased. The railway list has been strong in
sympathy with the grangers, which have advanced on an in­
crease in the movement o f corn and the excellent report of
earnings for February by St. Paul. The advance noted is from
1 to 3 per cent, distributed as follows: Northwest. 1: St. Paul,
1J^; Rock Island, 2%, and Burlington & Quincy, 3 per cent.
The coal stocks, including Reading, have advanced an av­
erage of about one point. Baltimore & Ohio has not re­
tained the advance noted at the close last week, which was
doubtless caused by the covering of short contracts. Louis­
ville & Nashville has gained 1% per cent, Mo. Pacific 1% per
cent and Manhattan Elevated 4J j per cent.
The speculative element has been chiefly interested in the
industrial list, of which American Tobacco has been the fav­
orite. The directors o f the American Tobacco Company de­
clared a quarterly cash dividend of 2 per cent and a scrip
dividend of 20 per cent on the common stock. This caused
the shares to advance from 89% to 95, which was not
maintained, however, and they closed at 89%.
W ithin the week American Sugar lias gained 2 points,
Tenn. Coal, Iron & Ry. 1% points, U. S. Leather preferred
1% points, General Electric \% points ; while fractional ad •
vances have been made by Chicago Gas, Distilling and
Pacific Mail.

A pril 4, 1896.

THE UHR01S 1C1.E.

625

NEW TORE STUCK E X C K A N fJ E -A C T Z V ff ST0 3 SIS f o r w i f i ending A P R IL S, and since JAN. 1, 1 8 9 6 .
H IGH EST A N D LOWEST PRICES.
Tuesday, W ednesday, ', Thursday,
Mar. 3 t. I A p r 1.
Apr. 2.

Saturday, ! M onday,
Mar. 28. 1 31ar. 30.
14
23%

15% lo r s
23%: 233%
%

**2

18%

*20% 21

*%

10 19

1S%‘ 15% 16% 16
16%) 16
16%
>4% 24% 25%. 2.5
25% 23
25
%;
*H
%
* SI
%
**3
%
19% 18% 13% 17%
18% 17% 13

*20% 21

*20% 21% 20'-k 20% 20% 20%

*54
56
33*4 *54% 55%. *34
56
*53% 55
45% 48% *18% 49%
48% 48%: 43% 49 1 49% 4 »%
104% 106
1 0 i h 10! i 10.. 106 *101% 1 0 5 % -1 0 4 105%
14% 14%’ *14% 15%
*14% 15%
15
15
*14% 15%
150s 15*% 15% 157.
15% 16%' 16% 16% *1*3
16%
*155
l o o .-155
■ 130 " *135
15 )
,*155
159
74% 7*1 •76
7 7%:
78 ; 77% 78%i 77% 78%
*41% 42% *41% 42%' *41% 42%; 41% 41% *41 % 43%
*
10o •
T
im* I; *
0 6 1100
fill
*96 10tl
*96 100
100
*96%
7-. - 75
74 % 73*4 71% 75%. 75
75 .. 73*4 75%
*1*25*4 125%: 125*4 125% 1*26 126
125% 123% 125% 125%
102% 102% 103% 1*3 ! 102% 103% 103*4 103% 103% 103%
146 146 ,*115% 147 ’ 1 )3 % 148% *145% 117 : I MS 148
. . . i «!)% 70%
70% 72
***~ **'**
71%
72% 71% 717s
69% «*J%
38% '3 5 % 40
39% 39%; 39
*37% 38%: 39
30
■122%
1
*1*22% 125 *
123
123
*123% 125 1*123 126
36% 36*4 36*4 36% -56 36%;
*33
30
35*4 m m
*86 00 :
87
87
*87
~8«
89
89
86
WJ
*15
U5
10
10% “ 1*5% 16% | !5 % ir.%;
*50
60 |
*50
*50
6 0 1 *50
60
.
I
*30
60
s
m !
126 120 ;■►120 1 2 7 %: 127% 127%.: i2 6 % i2 r % : 127% 1*27*1
m
i
m
\
101 101% 1.01% 161% l d l % 161% i 161%
161% 161 V
12 i 12% 12% [ *12% 13 ! 12% 13%;
*12
12
13*4
4 7 % : •lOti 47%
*40
47 V
47% 47%? 40% 47 : 47
14% 14H\ 14% 14%; 15
1x5 , *14% 15%; *M % ir,%;
.38 i *3s *4 30%
38% 30% 38% 3S% i 38
38*<i
23 l
23 ■ 23
24%] 23
*22
24 I *23
24 i m
31 1 *30
31 J *30
31 |
3 5 1 *30
3L | *30
*3t
*108
113 !
'to a 113 *108 113 fU 0S U S i*108 113
94
95 1 *94% 90
94
06 I
m | 34% 9 4 % 05
8%. 8%)
8V
0*4
9*4
t>%! * 0 % 10
’ 3*1% 37%. 37% 37%
37% 37%; 37% 37%) *37% 38
18% 19%) *!*;% 19% 18
18
17
19 I
•17
1«
70
70
70
70
70
70
70
70%
**19
71 %!
146% 146%,
140 146 *145% 116% 148% 146% 146% 147
*81
64 * *81
84 l B l
81
8*2
82
SO % 80 %
50%: 50% 50%
48% 49%j 49% 49%
10% 50% 30
*8 1* j 8%
9 : *8*3
0
*8% 9 ) *9n.
9 1

*20 22 : 21

21% 21% 21% *20 2.1%;

*20

21 i

l o t % 10 V-J 103 % 107 % 106% 107%:
104 i 101 104
103%: 105 103
101% 105 I 101% 101%, 103% 103%)
i>5
93
93*% 94
91
93
93
*93
93%
ID7 U)’,
19
ha 1| 70
80 j
70 i *79
80 | 79
7 9 % i *79
51 i( 50% 52% ’ 51% 52 %! 52% m \
j *51% 52%
i *'41% 12 ! *1 1 % 12 i *1 1 %. 1 2 iI 1 1 % 1 1 %!
27 %: 26"n 27L;
25% j: 2f*% 2 «%( 2 0 %
2*1
23%;: 23% M M 23%. M M 24% M M : 249, 2 1 4 !
23 }
23% : s i
2 1 | *20
23
*21
24 11 »<».*
85 |; *m
85 i *68
85 |
85
*08
83 1 *68
42 ]l *30
4 3 f *39
45 |
44 ! *40
45 ;! *40
97
07'% 90
1N>
90%; 06
9«% I 90%
96
*13
UH\? *13
14
* 13
14, | *11
i i % 1 *13
14 i
74 1
*75
7 9 !\ *
7fl
*75
7 9 } *75
79 1 74
\ i
31 %! : u
31 ! 31% 32% *30% 32 f 30% 36% i
17 5 180 : el7 5 i - o ;*175 180 7175 180 7175 180 !
14
14% i 1 1 % 14%: 14% 1.4% 14% 14% ; 14% 14%
6%
8%
8%
8%
22%
23
23%
23% 2 IN 23% 23% *23
1%
1>
'1 %
1%:
1%
1%
*1% 1% *1% 1%
6%
*6%
7%
6>
6%
0%
1%
!%
1%
S%
1%
I%
i %:
l--*)
1%
1%
11% 11%. 1i *•■ 11 % 11% 11%; 11% 11% 11% 13
‘ 20
21
*20
21
24
2 i : *20
*20
24
*80
3*3 3%;
3%
3%
3%;
3a
3%
3%
3%
3%
10% 10% 10% 115.
9%
9V
lo
10%
11% 11%;
*16
17%; *1*5
17% *16
17% *16
17% *16
17%;
*5*5 38 i *85
58
*.*>«
58
59
*36
59
*56
*
.................... Its > ..... 10
16
16 *
hi ;
*
.................... 19*......... * IS
................
. . . . . . 18
......... ................ .
*114 I l f .
11 i 111 *iit%na%*m%ti3%; .............. .
‘ 54
58
*......... 3,6
58
, *51 58
*54
59 :
59
59
*4%
S%: *4%
■'.%■
4%
4%' - 4 .^
5%; *4%
5 %■
*10% 11%
n
11
11 11% 11
11
11
11
*24
26 i *24
28
*24 28
26% 26%
*26
28
*89 91% *69
01%
*90 91% *99
91%
*89
91%
*109 113 *109
113
*
.................
109 113
i»% 10%; io% i«%
20 1 10% 10%
19 Q i9% ;
0
fils
0%
9%
9% ft I 9
‘ 9%
O'*
30% 28% 30 ' 29'4 29%
29%
8%:
7%
«
8
8 Vi
*9
8%
'3 0
37
*30
37
37 j
*30
37 1 *30
37 j *30
*70
75
*70
(5*70
75
75 :
*70
75 1 *70
0«3
7%
8%;
7«.t
7%
7<% 7I
7%
7%
7V
4 |
*J
3%
:h * 8 Vi
3k
■TV
*3Vi
ON,
7 i
7
*0M
7 j
6%
65,
<ik
e%
*6N
16% u n
10M 17 <4 17% lSVil IS
18H
177<j ih ;
9%
>FH
0%
9%
9
»%
9%!
0%:
9%:
'32
34¥
33 h
31 Q : *32
31*4 -32
2%
*2%
"2H
2\
2 ;V
2%
8V
3.4
103%
103%
*93
19
*78%
*50
“10 %
25%
22%
*21 %
*08

15% 15*8 13%
*61
03 |62%
111% 116
111.

15%; 15
15%
15% 15%
Vl\\ 82% 01
82% 62%
i p . . 11..:, 117'*. 110% I H

io i

100% 101%; 102

102% 102% 102 102

87%

80

67% 66%
152 152 ;
17
17%?
35% 35%
....................j
24
24
*5

9%

2fl% 26%

*127
*153

158

89% 90%:

90

«7%
152
17
35%
82
24%

«-% : 67% 08%
87%
152 152 153 1 153
17% 17% 17%
17%
35% 36
37%
36%
63
07
07% *60
24% 24% 24% *23%

102 102 102

86%

!

100% i o i

90%* 89%

95

07% 67% 69
163% 152 152
18% 17%
16%
37% 30% 37%
70% *60
70%
25
24% 26%

83% 80% 88% 86% 86% 80%' 86% 80%
5
20%

*127
158

5 I
5%
26*. -----20%

...i*127
139
153

*68% 86% *08% <18%

5%i
5%
5%
*•% 5%
27% -----27% 27%
27
27
129
*130
153
153
158 159
*88

27 H 27%

27% 2 H%; 28%

1% * 5 ”
0
DM
9% 9%
80% 60%
26
26%

4%]
9%
9«s
9%
9%;
62%
60% 6* >4 m
26%
____ 26%'
--27f
27%

83%

io i

65%

»
O
V
s
>

15%
15%
*02
03%
117 117%

100% ioo% 100% ioo% l o t l o t

*4%

*9
9

5

10

5

10

4% 5
m 9%
9
9

9H\
9
02% ! 01 %
20% 20% 27
83%{ S3% m%\ 84
g&SI 84% 8 4 %| 83 %
,r.. bid and ask ed ; no sale made.
it Lowest is

STOCKS.

Friday,
Apr. 3.

02 J4
27%
84%
ex-dlvblend.

Sale3 of
the
Week,
Shares.

A c tiv e K B . S to ck s .
A t,Top. & S.Fe, allinatal. paid
Ho. p re t, when issued..
A tlantic & P a c ific ...................
B altim ore & O h io....................
B rooklyn R apid Transit.........
Canadian P acillc....... ........ .
Canada Southern....................
Central of .Now Jersey....... »,.
Central Pacific.........................
Chesapeake a Ohio.................
Chicago 155
& A lto n ......................
155
Chicago Burlington & Quincy
Chicago A Eastern Illinois. -.
Ho
p ref.
Chioaso M ilwaukee & St. Paul
Ho
pref.
Chicago & N orthwestern-----*,
Ho
pref
Chicago R ock Island A Paci fic
Chicago St. PaulMtim. A O m .
Ho
pref.
Cleve. i incln. Chic, A St. L ...
Bo
pref.
.Columbus H ooking Val, & Tol
Ho
pref.
D elaware A H udson...............
DelaivareLuckawaima&W est
D enver & liio G ran de. ..
Do
pref.
Erie , ......................................
Ho
1st pref.
Ho
2d pret.
E vansville & Torre H aute—
Great Northern, p ref...............
IllinoisC eutral..........................
Iow a C en tral,...........................
Ho
pref.
Lake Erie & W estern..............
Ho
pref.
Lake Shore A Mich. Southern.
Long Islan d.............................
L oim vu le A Nashville............
Louisv. New Albany A C hie.,
,
Ho
pref
Manhattan E levated,consol.,
iM etropolitan T ra ction ..
.Michigan Central....................
jMihiienpolls A St. L ouis.........
Ho
1st pref.
Ho
2d pref.
.Missouri Kansas A T e x a s ... . .
Ho
pref.
Missouri Pacific...............
M obile & O W o ............ ..
Nash v.Chattauooga&St Louis
N ew E ngland.........................
New York Central & Hudson
,New Y ork Chicago & St, Louis
Ho
1st pref.
Do
2d pref.
.W v York X,uv Haven A Hart.
iNew York Ontario A Western
New York Suttu, & West., new.
;
Do
pref.
Norfolk A W estern...................
Ho
pref.
Northern Faeifio.....................
Do
pref.
Oregon R‘y A Navigation Co.
Oregon Sb. Line A Utah North.
Phtlu.A Reading lstiu st. p d.
Pittsburg Clim. Cilia. & St. L.
Do
pref.
Pittsburg A Wes tern, p r e f....
R io Graude W estern...............
Rome Watertown A Ogdensb.
St. Louis Alt. & Terre Haute.
M'. Louis Southwestern..........
St.
Ho
pref.
u t, Paul A D uluth.....................
Do
pref.
;8t. Paul Minn. * M anitoba..
Southern Pacific C o................
'Southern,voting trust, eertlf.
i Do pref., voting trust, cert
T exas A P acific.......................
Toledo A Ohio C entral..........
Do
pref.
Union Pacific trust receip ts..
Union Pacific D enver A Gulf.
W abash.......................................
Do
pref.
W heeling A Lake E rie............
D o'
pref.
Wise. Cen. Co., voting tr. etfs
V lla c c lla u o o u * S t o c k * .
Am erican Cotton Oil Co.........
Do
pref.
A m erican Sugar Refining Co.
Do
p ret
A m erican Tobacoo Co............
Do
pref.
Chicago Gas Co., certs, o f dep.
Consolidated Gas C om pany..
Dis. A C. F. Co. ,tr. cts.ail ms.pd.
General E lectric C o.................
Illinois Steel C o ......................
National Lead Co....................
Do
pref.
North American C o.................
Pacific M ail. ...........................
Pipe Line Certificates.............
Pullman Palace Car Company
Sliver Bullion Certificates---Tennessee Coal Iron & K B ...
Do
pref.
U.8.Cord.Co.,tr.ree.all ine.pd.
Pref., tr. roc. ail lus. pd.
United States Leather Co.......
Do
pref.
United States Rubber C o.......
Western Union T elegraph ....
! E x rights.

R ange fo r year 1896.
Lowest.

14,020
2,221

7,0.10
357
865
465
85
2,245
300
53,916
200
42,138
400
3,750
105
33,153
900
100

638
115
50

Highest,

12% Jan. 7 17*4 Feb. 24,
19% Jan. 7 28% Feb. 24
% J an . 7
% Feb. 6
13 Mar. 6 44 J an. 27
20% Alar. 25 24% ie b . 26
5 1 Jan. 4 59% Feb. 11
51% Feb. 10
45% Jan,
109 Feb. 5
94% Jan.
14% Jan. 9 15% Feb. 15
13 Jan. 7 18% Feb. 10
155 Apr. 2
155 Apr.
81% Feb. 10
7 1% Jan.
41% Apr.
43 Jan. 18
98 Jan. 23 100% Mar. 5
79% Feb. 24
63% Jan.
130% Mar. 2
125 Jan.
94% Jan.
105% Feb. 11
14 7 Mar. 6
142 JaD,
62 Jan.
74% Feb. 24
42% Feb. 24
31% Jan.
124% Feb. 25
117 Jan.
$9% Feb. 10
31 Jan.
90% Feb. 20
87 Apr.
18% Jan. 23
15 Jan.

475 119% Jan.
120% Feb. 11
164% Jan. 31
1,23 155% Jan.
240 12% Mar. 31 14 Feb. 4
750 40 J an. 7 51 Feb. 24
450 14 Mar. 24 15% Mar. 12
528 37 Mar. 24 41% Mar. 17
36 22% Mar. 24 25 Mar. 16
25 Jan. 15 34% Feb. 24
108% Mar. 13 111% Feb. 14
335 89% Jan. 8 98 Jan. 31
1,800
7% Jan. 7 10% Feb. 7
513 25 Jan. 6 37% Mar. S I
425 17% Mar. 26 22% Feb. 5
75 Feb. 7
625 64% Jan.
506
7 150 Feb. 25
220 81 Mar. 1(5 8d Jan. 7
30,536 39% Jan. 7 55% Feb. 24
485
7% Jan. 8 10% Feb. 18
530 16% ,Tan. 6 24% Feb. 13
7,428 96% Jau. y 11312 Feb. 1 1
710 92 Jan. 6 108 Feb. 6
410 93 Mar. 23 97% Feb. 1L
900 17 Jan. 8 21% Fei). 21
210 72 Jau. It) 83 Feb. 21
4,000 40 Jan. 7 53 Feb. 26
110 10^2 Jam 0 13% Fell. 21
0,090 22 Jan. 7 31% Feb. 25
8,698 2 0 7» Feb. 4 26% Jau. 2
75 21
y 25 Jan. 11
43 Mar. 23 51% Jan.
93% Jan. 7 99% Fell.
1 1 Jan. 2 15 Jan.
1 71% Jan. 17 80 Jan.
808 26 Jau. 17 32 Mar,
175 Jan. 7 186 Feb.
1,000 1 2 % Jau. 7, 15% Jail.
-------7% Mar. 26 11% Jan.
1,305
2,620 21% Jan. 7 31% Feb.
3 Feb.
1% Mar. 30
270
9% Feb.
225
6 Ma r. 27
5 Jan.
5,610
1% Mur. 24
3,620 10% Jan. 8 17% Mar.
10 Fei). 18 16 Jau.
).
8% Feb.
792
3% Mar. 21
8,030 )2 % Jan . 7 15% Jan.
14% Jan. 7 18% Feb.
52 Jan. 8 59 Feb.
17
Jan. 15 20% Jan.
16
Feb. 8 18%
. _ Feb.
5 1 1 4 Mar.30 118
Jan.
100; 57 Jan. 29 60% Jan.
20
4 Jail. 7
5% Feb.
9
Jan. 6 13 Feb.
702
200 25 M at 13 27% Feb.
....... . 90 Feb. 4 91 Feb.
2 110 Jan. 22 115 Jan.
1,606 1 8 % Mar. 24 22% Jan.
2,505 7% Jan.
8 11 Feb.
6,066 23% Jau. 7 33% Feb.
2,535
7% Jau. 7
9% Feb.
2,078

3% Jan.
3% Jan.
6% Jan.
14% J an.
S% Mar.
20 31% Mar.
2% Apr.
110

21,742
500
925
6.945
5,995

1,950 13 Mar.
640 57 Mar.
71,624 97 Jan.
1.778 95 Jan.
273,279 7 1% Mar.
810 100
- - Mar.
19,510 62
Jam
8 3 5143 Jan
14%
Jan.
16.159
“ ~
22,701 22 Jan.
755 60% Mar.
803 22% Mar.
869 82% J an.
4 Jan.
235
2,270 22% Jau.
9 1 4 8 Jan.
07% Jan.
23 J an.

15,560

2,280
610
5,755
24,642
2,198
5,930

4%
8%
9
56%
22%
81%

28
10
22
22
26
10
31
31
0
21
5
30
9
27
24
31
7
27
31
10
3
3
7
26
24
10
11
14'
6
25
25

9 Feb. 24
7
5% Feb. 13
7
7% Feb. 24
7
7 19% Feb. 24
19 13% Feb. 14
19 40% Feb. 13
4% Feb. 24
2
9
6
7
7
7
7
6
27
7
7
6
7

19 Jan.
69 Feb.
118% Feb.
102% Feb.
95 Apr.
103 Feb.
70 Feb.
161% Feb.
19% Feb.
39% Mar.
70 Feb.
28% Feb.
89% Feb.
6% Feb.
31 Feb.

27
11
28
26
2
13
25
10
10
13
14
10
14
24
10

7 164 Feb. 11
8 70 Fei). 24
7 34% Feb. 10

6% Feb. 7
Mar. 24
Mar. 24 12% Feb. 7
Jan. 9 11% Feb. 8
Jan. 9 69% Feb. 14
Mar. 6 29 Jan. 13
Jan. 22 87b) Feb. 1 0

I Before payment o f any iustahneuc.

626

THE CHRONICLE.

[VOL. LX1I,

SflVY VOftK SFJOli E.VCflAN^E PRICES (Continged) —IN ACTIVE STOCKS,
!

in a c t iv e Stocks .
Tf Indicates unlisted.

A pril 2.
Bid.

Ask.

Range (sales) in 1896
Lowest.

fXlruiicates actual sales, J
A pril 2.

I nactive Stocks.
1f Indicates unlisted.

Highest.

Bid.

Ask,

Range (sales) in 1896.
Lowest.

Highest

R a ilr o a d S to c k s .

M is c e lla n e o u s S to c k s.
175
175 Mar. 175 Mar. Adams E xpress............................ 100
0% 1 0 *
9 Jan.
1 1 * Feb. American Bank N ote Co IT..............
2 5 * 2 7 * 24 Jail.
2 9 7q Feb. A m erican E xpress...................... 100
-.1 00 ____
7 Feb.
7 Feb. Am. Spirit Mfg. Co. (when issued)ir
-.100
1 3 1 * Jan.
Preferred (when i s s u e d ) ............
-.100 102 104
Amer. Telegraph & C able..........100
..1 0 0
12
14
Bay State Gas I f .......................... 50
?-100
13
20
10 Jan.
15 Feb.
100
.%—
55
100
..1 0 0
70
70 Mar.
100
J51
53 Jan.
41% Jan.
100
.. 50 160
1 6 1 * Mar.
100
io n
7
8
5 * Jan.
8 Feb.
100
KMI 45
53
100
Dnlatk So. Shore & A tla n tic 1 .100
4% Jan.
6 Jan.
100
5 >4 6
.100
1 1 * 1 1 * Jan.
10
1 4 * Feb. Detroit G as.................................. 50
...5 0
45
53
50 Feb. Edison Elec. 111. of N. Y ............100
46 Jan.
13
15
13 Feb.
16 Feb. Edison Elec. 111. o f B rook ly n .. 100
37 Mar. 43 Feb. Erie Telegraph & Telephone ..1 0 0
37
.100
Interior Conduit & In s.............. 100
.100
25 Jan. Laclede G as.................................. 100
2 7 * 25 Jan.
.100
8
Jan.
7
9
Apr.
P referred....................................100
O'*
2
4
2 Jan.
.100
3 * Mar. Maryland Coal, p r e f....................100
.100
1 3 * 1 5 * 15 Mar. 18 Feb. Michigan-Peninsular Car C o .. .100
.100
*
Preferred.................................... 100
9 Jan.
12 Feb. Minnesota Ir o n ............................ 100
9% 11
2
1 Jan.
.100
2 * Feb. National Linseed Oil C o............. 100
1*4
162 Mar. 166% Feb. National Starch Mfg. C o........... 100
. 50
.100
New Central C oal......................... 100
.100
Ontario Silver M ining................ 100
.100
115is Jan. 120 Jan. Oregon Im prov’t Co. tr. r e o ts ..l0 0
60
70
N orfolk & Southern................... .100
Pennsylvania C oal...................... 50
- : li”!
s
15
Ohio Southern.................
Quicksilver M ining..................... 100
3
2 * Jan.
.100
2%
3 78 Feb.
Preferred....................................100
3 Jan.
D
5is Feb. TtoXaa p a cific Land T ru st.........100
9
Peoria <fe Eastern.
182
182 Feb. 182 Feb. !iU. S. Cordage, guar., tr. certfs.100
39 Jar100
46% Feb. U. S. E xpress................................100
4
5 Feb.
.100
id
5 Feb. U. 8. R ubber p referred .............. 100
100
10
___
i
16
Wells. Fargo E x p r e s s ................1001
I A ctu al sales.
■No price F rid a y ; latest p n o e this week.

{148 1 4 8 * 146
40
42
110 * 113 110
92

Jan.

150i* Feb.

Jan.

115

95

%
:2
J27
2%
158
30
96

91 Jan.
18i* Feb.
i* Feb.
78
9 5 ^ Feb.
2*
2 Apr.
2 7 * 233s Jan.
96
9478 Feb.
3
li* Jan.

95 Feb.
233s Mar.
i* Feb.
9614 Feb
4 * Jan.
3 4 * Feb.
98 Feb.
438 Mar.

32

30 "'M ar.

31 "M a r.

981*}

89

Jan.

9 8 * Mar.

283g

60 "M a r .
35 Feb.
1 8 * Jan.
78 Feb.

6 2 * Jan.
35 Feb.
29 78 Mar.
86 Apr.

59i*
53
15
4*
7*
8
2

60 Feb.
72 Feb.
2 0 * Jan.
6 * Feb.
8*8 Feb.
15l Mar.
4 * Jan.

58*
{27
186
45
68
18
5

6
1

14
320

60

69*3
19
9

8
2*

15
119*
43
187
100

"Tan

46
103

peb.
Jan.
Mar.
Jan.
Mar.
Jan.
Mar.

2

l 7e Mar.
5
17
38
83
97

Jan.
Jan.
Jan.
Jan.
Jan.

Jan.

7 "F eb .
2 4 ®8 Feb.
46 Mar.
89 Jan.
101 Feb.

NEW YORK STOCK EXCHANGE PRICES.—STATE BONDS A P R IL 2
SEOURITIEB.

Bid

Alabama— Class A , 4 to 5 .....1 9 0 6
Class B, 5 b ...........................1 9 0 6

.......

.......

Currency funding 4 b............ 1920
Arkansas—6s, funa,H oL1899-1900
do. Non-HoJford
Stamped 4s.'...................................
N ew oonole. 4 b_____ _______ 1914

SECURITIES,

Ask.

.......

97

SECURITIES

A sk.

Compromise, 3-4-5 6 s ....... 1912
3 s ....................................... ,,..1 9 1 3

103
6 s..................................
1919 1 1 9 *
Virginia funded debt. 2 -3 s ...l9 9 1
South Carolina—4 * 8 , 20-40.. 1933 106
.........
6s, d e fe rre d t’st reofts, stam ped.
6s, non -fu nd...........................1888
98%

Specie.

Legals. Deposits

A bb.

85

87%

61

61%

New York City, Boston and Philadelphia Banks:
BANKS.

Capital Surplus Loans.

Bid

Tennessee—6s, o ld ....... .1892-1898
6s, n ew bon ds - - -----1892-8-1900
.........

New bonds, J & J .........1892-1898

New York City Rank Statement for the week ending
March 28, 1896. W e omit two ciphers (00) in all eases.
BANKS.
(00s om itted)

| Bid.

Missouri—Fund ..............1894-1895
North Carolina—6 b, o ld .......... J&J

Capital A
Surplus.

Loans.

Specie.

Legals. ^Deposits. |Circ'Vn. Clearing»

$
$
$
$
86,521,2 1489,612,2 13,619,6 627,360,6
$1,160,0 $1,850,0 $11,380,0
83,917,5 '488,884,4 13,983,8 602,358,9
1.305.0 2,112,0 13.863.0
83,056,1 489,809.5 14,234,8 518,950,6
1.610.5
944.9
8.982.8
82,541,9 488.058,1 14,198,0 553.320,2
1.013.0
1.009.0
6.939.0
79,709,4 482,215,5 14,216,0 485,144,2
1.046.2 2.781.3 16.147.8
935.0 3.700.0 Mar. 14.. 69,351,8 157,712,0 8,392,0
219.0
5,381.0 130,698,0 9,731,0 79,286,0
3.523.7 31.503.6
9.931.6
“ 21.. 09,351,8 157,629,0 8,692,0
6,000,0 131,275,0 9,732,0 80.349,1
1,832,2
198.7
189.1
5,512,0 130,784.0 9,818,0 70,960,6
“ 28.. 69,351,8 158,379,0 8,729,0
3.266.2 3.548.8 21.941.0 Phila. *
439.0
756.4
4.322.8 Mar. 14.. 35,263,0 103,272,0
100.018,0 6,443,0 55,450,8
27,982,0
803.2 4.564.9
555.6
'• 21.. 35,263,0 103,031,0
27,917,0
99,107,0 8,515,0 82,231,5
186,8
1.387.5
112,6
98,243,0 6,581,0 58,208,3
“ 28.. 35,263,0 103,193,0
27,606.0
260.0
2.260.0
170.0
905,2
194.2
128.1
* We omit two ciphers in all these figures, t Including for Boston and Phila
638.7 2.994.5 delphia the item “ due to other banks.”
204.4
215.1
273.6
1.981.7
440.7
2.390.1
27,3
Miscellaneous and Unlisted Bonds :
551.0 4.193.0 18.712.0
418.4 4.742.6 17,335,5
M iscellaneous Bonds.
Miscellaneous Bonds
788.4
607.3 4.231.0
Manhat. Beach H. L. g. 4s.
1.369.0
6.940.5 Boston Un. Gas tr .certs., bs.
597.5
Ch.
Jun.«fe
S.
Yds.—Col.t.g.,5s
Metropol.
Tel. & Tel. 1st 5s.. *108 b
409.6
434.6
2.808.2
Mich.-Penin. Car 1st 5s---- 1.432.8 11.149.9 Col. 0. & I. Devel. gu. 5s.......
1.050.2
969.2 5.743.0 Colorado Fuel—Gen. 6s.......... r 90 a. Mutual Union Teleg.—6s g .. il3 * 'b
659.1
N. Y. & N. J Telep. gen. 5s.. *107 *b
291.8 2.471.7 Col. & Hock. Coal & I.—6s, g.
227.7
911.3
504.3
5.066.0 Cons.Gas Co..Chic.—1st gu.5s *84 *a, Northwestern Telegraph—7s. *116*a1
3.294.2 4.242.4 18.044.7 Consol. Coal conv. 6s............. 95 b, People’s Gas & C. I 1st g. 6s. U 6 b !
73 *b.
Co., C hicago.... S2d g. 6s. 105*b
391.2
339.6
2.718.0 Det. Gas oon. 1st 5s...............
1st oons. g. 68...................... * 98 * b
552.2
2.875.0 Edison Eleo. 111. Co.—1st 5s . 105 *b
253.7
1st consol., gold, 5s.............. 103 b, Pleas. Valley Coal-1 st g. 6s.
632.5
150.4
3.080.2
Sunday Creek Coal 1st g. 6s.. * io o " b
Do
of Bklyn., 1st 5s___
961.8 4.123.7
329.7
U. S. Leather—S .f.d eb., g.,6s l l l * b
331.7
409.9
2.956.5 Equit G.-L., N.Y., cons. g. 5s.
630.0 8.099.0 Equitable G. & F.—1st 6s .. 96 b. Western Union Teleg.—/ i . .
1.371.1
1.225.9
645.3
6.726.8 Henderson Bridge—1st g. 6s. I l l b. Wheel.L.E.<fePit+«» Coall8t5s
Unlisted Bonds.
141.2
322.7
1.700.0 Illinois Steel deb. 5s..............
Am. Spirit Mfg.,1st,when iss
Non-conv. deb 5s........- .......
3.741.0 2.329.0 18.341.0
Comstock Tunnel—Ino. 4 s..
5 *b
3,329,8 5.297.4 27.929.4 jnt. Cond. & Ins. deb. 6s.......
115.7
164.7
1.059.0
N o t e .—“ 5 ” indicatesprioe bid; ‘ a ” pnoe asked * Latest price this w e e k
1.518.6 2.907.5 17.062.4
1.811.0 8.441.0
201,0
Bank Stock List—Latest prices this week. (*Not listed,)
700.0 5.792.0
851.0
474.8 3.403.3
329.5
BANKS. Bid. Ask
Bid. Ask.
BANKS.
BANKS. Bid. Ask.
919.6 3.735.8 19.169.7
716.8 8.726.3
1.413.0
N Y . Nat. Ex 100
Garfield........ 425
154.2
260.9
1.496.4 America...... 300
115
German Am. 118 122 ^ Ninth.
466.0
315.0 2.930.0 Am. E xch--. 171 174
19th Ward.. 125
German Ex.* 350
281.0
645.1
3.463.9 Bowery*.... 275
N. America 125 135
Germania.... 380
351.2
297.1
2.683.3 Broadway... 230 245
215
Oriental...
Greenwich .. 165 190
3.140.0 17.774.0 Butchs’&Dr. 142 150
1.670.3
Paciflo...... 177*
310 315
963.3 1,053,4
7,884,8 Central........ 118*j
Park............
273
Hnd. River.. 150
291.4
3.045.4 Chase........... 450
413.6
People’ s ___ 235
Im. & Trad’s’ 535 540
665.7
342.2 3,885,7 Chatham...... 300
Phenix....... 108 110
137*
397.8 5.928.3 Chemical ... 4000
1.028.0
Prod. Ex.*.. 115 120
Leather Mfs1 170 176
763.9
841.8 6.488.0 City......... . 450
680
Republic__ 147 155
743.9
356.3 4.889.6 Citizens’ .
Seaboard..
. 167
207
215
Columbia—
207.9
327.3
1.897.3
400 485
8eoond..
200
1.136.9 5.880.3 Commerce...
879.4
113*
100
Seventh
Mechanics’ .. 186
416.0
213.0
2.410.0 Continental. 130
90
95
128
140
Shoe<fe
Le’tti
295
M’chs’
&
Trs’
285
Com
Exch..
716.0 1.076.0 6.518.0
M ercantile.. 175 185
Southern... 107
216.0
197.0
1.511.0 East River.. 136 140
Stateof N.Y. 108 112
Merchants’ .. 133 137
317.3 2,685.2 11,559,3 11th Ward... 200
.... T hird.......... 105 107
Merch’ts Ex. 110
519,0 5.306.0 Fifth A ve.... 2900
843.5
94
Metropolis.. 410 425
Tradesm’n’ s 92
489.9
152.4
2.066,2 Fifth*........... 250 275
130
Union Sq.* . 190
1,685,8
446,3
7.837.6 F irst............ 2850
145
Union......... 190 196
14,0
476.7
1.965.3 First N., S. I . 100
N. Ams’dam 190 196
Un’ d States 175
225.4 2.916.0 14th Street.. 170
499.1
Western ... 110 1112
New Y ork ... 233 237
Fourth. . . . . . 180 190
Side.. 1275 I ----Total................... 61.122,7 72.833.8 464.996.4 58,931,9 79.769.4 482,215,5 1 G&ilatin.
295 ........ N.Y. Co'nty. 580

Bank of New York..
Manhattan Co.........
Merchants’ ..............
Mechanics’ ..............
America...................
Phenix.....................
City........ .................
Tradesmen’ s..........
Chemical...............
Merchants’ Exch’ge
Gallatin National...
Butchers’ <feD rovers’
Mechanics’ <sz Trad*
Greenwich...............
Leather Mannfac’rs
Seventh National...
State of New York..
American Exchange
Commerce................
Broadway.................
Mercantile........ ..
Pacific......................
R epublic...... . . . . . .
C h a th a m .............
People’s ...................
North America........
Hanover..................
Irving......................
Citizen’s ........... .
Nassau.....................
Market & Fulton...
Bhoe & Leather......
Corn Exchange.......
Continental.............
Oriental ................
Importers&TraderB’
Park.........................
East River..............
Fourth National__
Central National__
Second National__
Ninth National.......
First National........
Third National........
N.Y. Nat. Exchange
Bowery.....................
New York County..
German Amerioan..
Chase National........
Fifth Avenue....... .
G erman Exchange..
Germania.................
United States.........
Lincoln.....................
Garfield....................
Fifth National........
Bank of the Metrop.
WeBt Side...............
Seaboard ................
Sixth National........
Western National..
First Nat. Br’ klyn..
Southern National..
Nat. Union Bank__
Liberty Nat. Bank.
N.Y. Prod. E ic h ’ge.

$2,000,0
2.050.0
2,000,0
2,000,0
1.600.0
1,000,0
1,000,0
750.0
300.0
600.0
1,000,0
300.0
400.0
200.0
600,0
300.0
1,200,0
5.000.
5.000.
1.000.
1,000,0
422,7
1.500.0
450.0
200.0
700.0
1,000,0
500.0
600.0
500.0
750.0
1,000,0
1,000,0
1,000,0
300.0
1.500.0
2,000,0
250.0
3.200.0
2,000,0
300.0
750.0
500.0
1,000,0
300.0
250.0
200.0
750.0
500.0
100.0
200,0
200,0
500.0
300.0
200.0
200,0
300.0
200.0
500.0
200.0
2.100.0
300.0
500.0
1,200,0
500.0
1,000,0

$1,954,3
2.096.0
932.5
2.125.5
2.339.6
346.7
3.297.6
78,3
7.423.1
158.7
1.664.2
221,4
327.6
179.2
499.3
99.7
520.8
0
2.466.5
3.554.4
0
0
1.601.4
950.0
488.8
851.4
984.8
259.3
561.6
1.922.3
339.7
383.1
278.4
811.7
65,0
1.145.6
235.8
408.6
5.547.9
3.171.2
135.7
2.006.9
474.9
630.0
360.2
7.146.9
235.2
73.7
571.7
425.3
269.6
1,339,8
1.085.2
625.6
651.6
544.4
591.1
645.2
310.6
805.5
306.0
250.9
335.8
307.6
888.6
522.5
605.0
175.7
320.2

$12,13^0
13.475.0
8.109.8
8.395.0
15.011.2
3.870.0
22,803,5
1.957.1
22.604.7
3.877.3
6.099.0
1.492.7
2.385.0
939,9
3.332.3
1.751.7
3.334.9
24.869.0
22.447.8
4.890.9
6.789.4
2.525.3
10.538.2
5.796.9
2.087.7
5.006.4
12,24 i,4
2.903.0
2.589.5
2.565.6
3.940.0
2.947.9
7.490.3
5.484.7
1.830.0
18.163.0
23.590.0
1.157.8
17.583.0
8.104.0
5.034.0
3.300.7
21.498.4
7.891.4
1.538.8
2.745.0
2.877.6
2.856.5
14.930.5
7.165.2
2.659.4
2.844.0
5.147.0
5.960.2
4.244.0
1.764.7
4.353.4
2.269.0
5.369.0
1.791.0
10.980.1
5.164.0
2.117.3
7.833.3
2.046.9
3.494.5

N. Ya*
Feb. 29..
Mar. 7..
“ 14..
“ 21..
“ 28..

$
134,139,8
133,950,0
133,956,0
133,956,0
133.956,0

$
462,521,9
464,488,9
468,526,9
467,526,3
464,996,4

$
60,304,0
61,538,1
60,845,1
58,515,3
58,931,9

A pril 4, 1896,]

THE CHRONICLE.
BOSTON, P H IL A D E L P H IA

Active Stocks,
f Indicates unlisted.

AND BALTIMORE STOCK EXCHANGES.

§** S h a r e P r i c e * — n o t P e r C e n t u m P r i c e s .
Saturday,
Mar, 28,

Monday,
Mur. 30.

Tuesday,
Mar. 31.

1S% 154* 15% 15%
15% 16%
Atoh. T. A 8. PeM Bo*to»).100
*%
A
Atlantic A Pac.
"
IOO:
%
18% 18*9 ' 19% 'l 9 %
18% 18%
BaM mere A Ohio (B ali.). 100
* 6 5 % ........
66
66
68
Balt. City Pass'ger "
25 *65
17% 17%
17% 17%
Baltimore Traction “
25 *17% 17%
17% 17%
17% 17%
17% 17%
Baltimore Trac’ nliiPAil.). 25
209
209
%
.........
210
203%
208%
Boston & A lbany (Boston). 100
Boston A Lowell
■*
IOO 205% 2 03% 205% 205% 205% 205%
168%
183%
169
109
*........ 169%
Boston A Maine
"
100
10 % ; 0 %
10
10
Central o f Mass.
100 *10% 11%
*34
55
55
*54
55
r referred
“
100 *54
76% 77%
75% 76
77
78
O s c. Bur, A QuiP., “
100
74% 75%
74% 75%
O slo Mil. A St. P. iPAU.t.100 74% 74%
G%
6%
6%
6A*
Oho O. A G .V ott.e
“
50
*21
26
23
23
rat. St Ky o f t u d f “
10*)
94.% 95
*94% 95 I 94% 95
Pitebborg iiret.. ( Boston) .100
34
34%
34% 34%' 34% 34%
Lehigh V alley .. (P h ilo,). 50
Maine Central (Boston). 100
104% 104% xl03% 10S
HetropoVn Tray.* Phil. A M 104 104
10 % 10 % *10% 11
U 11
M exican C e c i l ( Boston! A 00
New England----"
100
so
so
. . . . . . SO
Preferred ............
'* 100 ' . . . .
69% 70
Northern Central(B a ll,). 50 ■......... 70
1%
1%
1%
1
1%
11
S orth eraP acific r P h ilo .A M
11% 117*
!1 % 11%
11
11
Preferred
100
176% 177
170% 176%
Old C o lo n y .___( Boston) 100 176% 177
53% 53%
53% 53%
Pennsylvania ...(P h ilo ,). 50 53% 53%
5
5JL*
5% ,
5%
Phil. A Beading.t
"
50
5
5%
677* 88% 68% 68% 037, 09%
PbiUdelph T r ie .
*■
50
Dutou i‘a/ :rto... ( Boston/ . 100
7%
7%
Union T ra ction .. ( I'hnia. > SC: 13% 14% 1«% 14%
S I l» « -e I l» n e .,U « =»(<><-It*.
A n.Sue'TlWflB.* (B oston)----- 115 115% 114% 110%
100% 101
P referred ....... .
“
. . . . 100% 100% 100% 101
202 207
BsU T elephone..
*•
10*.,: *200 200
202 204
74% 75% 75 76% 7a % 77
Boat. A Montana.
**
25
1%
1%
1% 1% 1% tv
Butte A Boston-.
**
26
310 *305 310 ‘ 305 310
Calumet A Ileeia
“
25
63 ------- 66
Canton Co . . . . . . - (B alL ). 100 •85 ..tTT. *05
01-, 04 04% 61% 65
Consolidated Gas
••
100 0*
20% 27% 27
26% 27
29
Elec.Stor. Bafy1!<PA4la.t.lOO
23% 28 24
29% 30
Preferred 5
••
100 $#
59% 59% 59% 59%
Site T elephone. fBrwioaf. 100 *50% 60
35% 35%
General idee trie.
**
100 35% 35%
70 -67 69
P referred. . . . . .
**
100 *67
19 19 *19 20
l&
L iiasooS foreder.
“
50 s 19
41% 41% 41% 414
L d t f& COSlAKa y, ( phua .) 50 •41% 42
90
w 90
» E.Telephone (Boston). 100
....... 90
10% 10% *10% .......
Pa.Hft4'i{,t.APt»w/PAiia.I.,... *iOH *»»»..
68%
68%
68% 70
68
63
V n ifd O M cms.ir
*•*
so
57% 58
Wetsbaeb L ight i
“
5 57% 58
58
""
58
West Kml lAttod..(BoslOit)...,
*1%
2%
Bid and **e«l p rice.:

Inactive Stock*.
p rists 0/ A pril 2.
A tlanta A Charlotte (Be

627

Bid.

Ask.

W ednesday,
A pr. 1,

Thursday,
Apr. 2.

Friday,
A pr. 3.

16

16%
15% 16%
%
%
*%
1
17% 17%
18
18%
*65% ..
*85% 67
*17% 173* *17% 17%
17% 17%; 17% 17%
2ng 228 1 208 208
205% ........i*205% 207
.........168%' 166 168

*10% 12 1 *11
*54
55
77% 78%
75
75%
24
94%
34%

24
95%
34%

105 105
*10 % 11
«
80
*. __
70
1% 1%
it%
176% 176%
533g 5 3 %
57i« 51 =36
69%
69%
-7 %
7%
15
16%
*
117% 117%
101 101
202% 203
75 V 76%
2
2
*
308
*
67 V
65% 65%
29% 31
30
31%
59%
59
37
37
69
70
18% 19
41% 41%
*
90
10% n %
69% 70
59
60
*........
2%
made.

Inactive stock*.

12

54
54
77% 78
75% 75%
6%
6%
*24
*94% 95%
34% 35%
135 137
105 105%
* 10%
11
*40
45
*77
80
*69% 70%
1%
1%
*11=8 11"
177 177
53% 53%
5% 513,.
89% 69%
8
8%
15% 15%

a

§
S
t*

Sales
of t ie
Week,
Shares.

Range o f sales In 1896.
Lowest.

4,082 12% Jan.
100
% Mar.
232 13 Mar.
12 65 Feb,
160 16 Jan.
844 15% Jan.
26 204 Jan.
9 202 Jau.
2s 162 Jau.
5 10 Mar.
5 53% Mar.
10,383 72 Jau.
10,300 64 Jan.
578 Mar.
106
600 21 Mar.
83 89 Jan.
1,159 34 Mar.
134 Jan.
i',670 94% Jan.
200
8 Ts Jan.
42 Mar.
79% Mar.
17 67% Jan.
3,444
1% Mar.
197 10% Jan.
159 175% Jan.
1,249 50% Jan.
7,952
1% Jan.
3,041
62 Jan.
3 J an.
2,385
9,706 10 Jan.

Highest,
17% Feb. 24
% Feb. 24
44% Jan. 27
70 Jan. 2
18% Feb. 10
18% Feb. 10
217 Jan. 28
206 Feb. 27
171 Feb. 19
12% Mar. 10
56 Feb, 28
81% Feb. 10
79% Feb. 24
12% Jan. 2
30 J an. 2
97 Feb. 10
38% Jan, 30
136% Jan. 3
108% Feb. 6
12% Feb. 24
51 Jan, 28
85 Jan. 28
70 Feb. 14
5 Feb. 28
17% Mar. 9
178 Jan. 10
54% Feb. 26
7"ie Jan. 30
72% Feb. 21
8% Feb. 24
16 Mar. 5

117 117%
10,869 97% Jan.
118% Feb.
100% 101
1,026 95 Jan.
103 Feb.
•202% 203
1,332 197 Jan.
207 Mar.
73% 76%
17,486 65 Jan.
81 Feb.
1,342
1% Mar.
13% Jan.
l 7a
1%
306 308
3 295 Jan.
310 Mar.
*60
67
66
66
2,112 55% Jan, 20 66 Apr.
29% 29%
2,979 24 Jan. 7 33% Jan.
30
30%
832 25 Jan, 7 34 Jan.
- 59
59
892 59 Mar. 20 63 Jan.
2,745 22% Jan. 6 39% Mar.
36% 37
70
70
114 50 Jan. 8 71 Mar.
19
19
201 18 Jan. 7 19% Feb.
42
42
50 41 Mar. 25 46% Feb.
90
90
25 87% Jan, 23 90 Feb.
11% 11%
2.958
9 Jan, 7 14% Jan.
68% 69
986 06 Mar. 2 81% Jan.
60
60
558 46 Jan, 8 67 Feb.
5
*2
2%
2% Feb.
1% Jan, 25
i Trust reeei pts, $ 2 % pd.
Bid,

5 54

Ask.

Bond,

56
100 95% 96% Barl.A Mo. River E x e u n t 63, JA J f i l e
116%
>,100 265 268
Non-exempt 6»....... ..1 9 1 8 , JA J f 106 107
50 40
■ 97
99 | Gen. m ort., 4 g .......... 1920, AAO
2% Chin, Burl. A Nor, 1845,1926, A AO ' 102% 103 |Phlla A Read, new 4 g „ 1958, JAJ
So
1%
**
0*t,» *!*».*---- . . . . . . . .
51%
50
2d ffiort. 6 s .............. 1918, JAD 7 97
99 j 1st pref. Income, 5 g, 1958, Feb 1
Lst p referred . . . . . . .
**
42 i Debenture 6 *.. . . . . . . .1896, JA D 5 97
99 1 2d pref. Income, 5 g, 1958, Feb. 1
OetilrmS: Ohio ___ _
(Bait.) 50 m
9
10% Chb.’ . Barl.AQuslney 4s 1922.FAA 5 93
3d pref. inoome, 5 g , 1958,Feb. 1
Chicago A West 'fieh.tjB-.4hmi .100
95
low a Division 4*.......1919, AAO; 5 96
97 j 2d, as............................1933, AAO
to o 140 H l %
Connecticut A Pa**..
**
Connect lent R iv e r ....
"
62 | Consol, m ort. 7 b.........1911, JAD
O hio.* W.Mieh. gen, 5 8 ,1921, JA D 5 60
100 240 245
22
r s 1 Consol, o f Vermont, 58.1913, J A J 5 69
Con *o(. Tract, o f X J .v iP h iia .)
70 ' Consol, mort. 6 * ......1 9 1 1 , JAD
Current River, 1st, 5 8 ., 1927, AAO 5 70
10 0 102%
75 : Im provem ents!. 6 g,, 1897, AAO
DalasnureABoaiut B t .
**
13
ll
Flint A Pern M.m<). . .(Boston) .100
Det. U n «. A Nor’o M, 7a. 1907, JAJ * 65
70 i Con. M .,5 g.,stamped,1922,MAN
:si
42 !
Terminal 5s, g ------.1 9 4 1 , Q.—F.
{118 120
100
Preferred . . . . . . . . . .
"
5128 130 |Phil. Wllm. A Balt., 48.1917, AAO
Heaton vllie Paaseng. (P h ilo.) . 50 rrrf- 48 j
Pitts. C. A 8t. L,, 7a....1 9 0 0 , FAA
01
*50
Preferred T . . . .............
“
5126 128
30
K .C .O .A 80
1 07% 72 : Rochester Railway, con. os ..1 930
Hunt. A K roa d T op ...
50
5 96
Preferred....................
** 50
K a F.8. *
52=9
98 i 8ehnyLR.E.81de,l8t5 g.1935, JAD
15
Kan.: C*y Ft.8» A Mein,
1 64
.100
17
70 |Union Terminal ls t 5 s ...........FAA
60
§121
Preferred ...................
** 100 50
122%
1907, JAJ
03 % 64 % L, Rook A Ft 8., le t ,7 » .. 1905, JAJ { 92
95 ;
. 50
Louis.,Ev.A8t.L.,1st,6g. 1926,AAO {100 106 ; Baltimore B elt, 1st, 58.1990, MAN
69
70
50
Mine HU1A S.U xven
Balt. C. Pass, ls t 5 s ....1 9 1 1 , MAN
Sssquebonlnir V ;,l, . .
50
5 4 % 55%
2m., 5—6 * .......... ....1 9 3 6 , AAO f 85
87
W orth A m e r ic a n C o.,
Mar, H. A Out., 6s...... 1925, AAO 5106% 103 I Balt. Traction, 1st 58—1929, MAN
100
Worth Pennsylvania.
Extern A impt. 6s___ 1901, MAS
50
M exican C entral,4 * ...1 9 1 1 ,JA J 5 69
70
86
20% 21%, No. Balt. Dlv., 5s....... 1942, JAD
IsteonsoU neom es.S g.non-oatn.
.100
3% 4
Oregon Short Line. ..(B r
35
30 j 2d consol. Incomes. 3s, non-cam
P eon.ylv am *A S . W. ( Philo.)
9 % 10 Baltimore A Ohio 4 g., 1935, A&O
50
17% 2«% N. Y. A N.K.iu-,, ls t , 7e,1905, JAJ* *118% 120 1 Pitta. A Conn., 5 g. ..1 925, FA A
Pbtladet. A Erie___ _
lint la n d .................... . ( Boshm) .100
.
. . . 1905, JAJ *112 113 ! Staten Island, 2d, 5 g .1926, J A J
2
3 ! 1st mors. 6*
Preferred.................
«
Ogden. A L .C .,C on .6 s...1920, AAO { 90
100
70
95 I Bal.AOiiiO B.W .,lst,4%g. 1990, JAJ
72
20 |OapeF.AYad.,8er.A.,6g.l916, JAD
Southern..................... (B all.) .100
ln e .6 « ...................................1 9 2 0 5 5
100
Ru tland, lst,6 e ........... 1402. Ma n §107 109%; Series B,, 6 g . . . ..........1 9 1 6 , JAD
P referred .. . . . . . . . . .
**
. 50
24, Ns.........................1898.FA A 5 98 100 ) Series 0., 6 x ....... — ..1 9 1 6 , JAD
67% 68
Cent, Ohio, 4% g — .....1 9 3 0 , MAS
Preferred-------. . . .
**
50 m
90%:
Cent, Pase., 1st 5 s .....1 9 3 2 . MAN
U nited Cos, o f S J . . (Phil.
ABeJIfiS
JAJ! . . . . . .
.100 238%
ioT" City A 8ub., ls t 5e.........192*2, JAD
50 55
07 ; At uintle City 1st 5s, g., 1919, MAN
West Jersey..........
m
20 % Belvldete Del., 1st, 6 s ..1902, JA D 113 . . . . . . Oharl. C ol.A A ug.ext.5s.1910, JAJ
West Jersey A A llan .
**
OoL A Greeny., 1st 5-08.1917, JAJ
100
Western N Y. A Peon
"
2*8
2 % Buffalo R y ,eon . 1st, 5 s . . . . . . .1931
Ga.Car. A Nor. ls t 5 g -1 9 2 9 , JAJ
3
.100
Wisconsin Central...(B osU
3 % CataWlssa, M., 7 s ......1 9 0 0 , FAA 111%
Georgia Pac., 1st 5-6S...1922, JAJ
Choc. Okla. A Gulf, prior lien 6 s.. 108%
100
P referred......... ..
•*
North. Cent. 6 s . . . . . . ----- 1900, JAJ
82
100 1 12 i £ i i Citizens’ 8t,B y.of lnd.,eon.5a.l933
Wore’* t. Nash.A K<><:h.
**
0 8 ..................
1904, JAJ
( .dumb. St. B y,, ls t , eon. 5S..1932
niacKLi.xaKi’ ra.
Series A , 5a...................1926, JAJ
Colnmb. O. Crosstmvn, lst.5s.1933
Alionez M ln'g, asst p df Noth
. 25
%
4
%
s
.......
1925,
AAO
ConsoL
Tract,
o
f
N.
J.,
Ist,5
s.l9
3
3
82
82%
25
17
AtlsntJo M in in g ......
"
18
50
10*9 10V Del. A B’a Br’k, ls t , 7a .l905 ,F A A 122% .........i P ledm .A C iu n .,lst, 5 g.1911, FAA
Bay State G m i ___ _
"
Pitts.
A
Connells.
1st
7
s
.1898,
JAJ
Easton
A
Am,
lstM
.,58.1920,
M
AN
u
o
v
Boston [ssatl,. . . . . . . .
“
10
4
i
8V
Southern, ls t 5s.......... —1994, JAJ
10 *15
*25 : Eimir. A Wllm,, 1st, 68.1910, JA J . 119
O tifenn ial Mining. .
**
Virginia
M
id.,
ls
t
6
s
...1906,
MAS
li.
-uiHi
vlllt)
M.
A
F,,
con.
5s..
1924
‘
2
1
Fort- Wayne E l e c t s ..
**
25
2d Series, 6s..................1911 MAS
Hnnt. A B P d T op ,C on »5 s.’95,AAO
25
13
Franklin M ining____
"
12
3d Series, 6s................1916, MAS
110
1
Prenchin’n'nRay L'd.
**
5
1%
4th Series, 3-4-5s....... 1921, MAS
D
TlllnoiaBfeel... . . . . . . .
**
100
63
08 1 2d 6s, gold.............................1897,JA105V
5th Series, 5 s.......... ..1 926, MAS
General mart. 4%s, * .1 9 2 4 ,0 —F 103% 101
Keareargo M ining.. . .
**
25
10
10 %
W est Va C .A P .ls t,6 g -1 9 1 1 ,J A J
99
. Oaeeola M inin*.. . . . . .
25
24% 25 1 Lehigh V&l.Ooal 1st 5s,g . 1933, J AJ
WerVL
N.C. Consol. 6 g.1914, JAJ
107
Lehigh
Valley,
ls
t
6
s
...1898,
JA
D
Paliinatt palace: Car .
“
100 156 158 !
131%
Wllm. CJol. A A ug,, 0S..1910, JAD
.....
2d 7 « . . . . . . ............................. 1910,MAS
Pennsylvania Steel.. (Phil
.100
30
MIS0BLIAN80TJS.
121
Consol.
6
................................1923,
JA
D
P r e f e r r e d s ..... ....
**
100 60
Newark Passenger, con. 5 s...1930 103 103% Baltimore Water 5 s ...1 9 1 6 , MAN
Qolnoy Mining ....... (Bask
. 25 124 i'26
Funding
5 s .. . . . . . . . . . 1 9 1 6 , MAN
103%
103
North
Penn.
1st,
7
s
....1
8
9
6
,
M
x
S
87
Tamarack M in in g ..,.
“
25
85
E xchange 3% s....... ...1 9 3 0 , JAJ
Water Pow er..............
••
Gen. M, 7 s....................1903, JAJ 121
100
1
1%
........ Virginia (State) 3 s ,n e w .1932, JAJ
P
ennsylvaniag
e
u
.6
8
,r.,1
9
1
0
,
Var
0 eettngh. Eire. A M..
"
31
30
50
Funded debt, 2-3s...... 1991, JAJ
Consol. 6a, c
............1905, Var 119%
Fref., cum ulative,
"
58
53%
50
OhesapeaKe Gas, 69------ 1900, JAD
118
Consol. 5s, r .................1919, Var
Consol.
Gas, 6 s ... . . . . . . . 1 9 1 0 , JA D
UvlU*w. Xl . •»-* a,..........x o x ii , o
At.?o°?nf e 8lSS-t^ nl * . 119i
78% 79
JAJ
. . . 1939, JA J
5s
2d 2V t s , * ., Class A 198 AAO
25 V 26 j Pa. A N. Y. C a n a l,7 s...1 9 0 6 ,JAD 123
1Of o s s-r>
oaton United Ga« l « t 5«.
§79
80 1 Con, 5s.........................1939, AAO 109 ......... Eqnltahle G »e. 6s
Prhjn include* overdue ootipons.
f Unlisted.
t) And aoorued Interest.

26
26
30
25
31
4
2
31
31
31
13
13
4
8
10
17
2
17
14

1 Bid. 'Ask.
93

! 93%

117 j i i 8
103
78% 79
31% 31%
18
18%
16% 16%
127
,
117
102 103
100=8
106%
uT"
. . . . . . 103
101
118%
86%
114
111%
103%
106%
100

119%
86%
114%
112%
103%
107%
100%
ICO

73
50
44
97
109
107
104
110
83
112
110
112
113
105
100
101%
90

110
10 1%
102
90%

113

iiT %

46
100
110
107%
105
83%
112%
110%

90
92%
99 % 100%
108 107
112 %
114%
121

122

106%
72%
61%
104
114
103
......

106%
73%
61%
105
114%
103%
j

THE CHRONICLE.

628

[VOL, LX1I,

NEW YORK STOCK EXCHANGE PRICES (Contiaued)-4CZYP£ BONDS APRIL 3 AND FOR YEAR IS90.
ILROAD AND
M iscell an eo u s B onds .

Int'st
Period

Closing Range (sales) in 1896.
P rice
Lowest.
Highest.

Apr. 2.

R a il r o a d an d
M iscell an eo u s B onds .

Closing
Int'st P rice Range (sales) in 1896,
P eriod Apr.
2.
Lowest
Highest,

110
109 Mar. 111*2 Jam M. K. A Texas.— 1st, 4s, g. 1990 J A D
Amer. Cotton Oil. deb., 8g. 1900 Q - F
85 70
87 Fob.
80 Jan.
A m i A rbor.—lsi 4s, g ....... 1995 11—J
7 1 78 Feb.
G934b. 66 Jam
2d, 4s, g ............. ..............1 9 9 0 F A A
59*2
53*2 Jan.
63*2 Feb.
At. Top.A S.F.—1 0 0.yr.,4g.l98 9 J A J t 79
f 69 *2 J am t80*8 Feb. Mo. Pac.—1st, eon., 6g.......1920 M A V
93
90*8 Mar. 97 Jan.
3-4s,Cl. “ A ” D tin «ta ll.p d .’89 A A O t 26*8 119a4 Jam 128% Feb.
3d, 7 s..................................1906 M A N 108 b. 108 Jan. 112 Jan.
80
7 2 34 Jam
New gen. 4s, when issued....................
81*2 Feb.
Pac. o f Mo.—Iso, ex., 4g . 1938 F A A
101 Feb. 102*2 Jan.
Adjustm ent 4s, \vlien issued. ...........
51*8 Fob.
47 *2
42*2 Jam
2d ext. 5 s ...................... 193s J A J 108 a.
C ol. M id la n d —C o n s .,4 g . 1940 F & A t 25 b. 120 Jau. f 27 Fob.
St. L. a Ir.M t.lste x t., 5 s.l8 9 7 F A A 100*4b. 100 Feb. 102*2 Jam
40 b. 41*4 Feb.
41% Feb.
A tl. & Pac.—Guar. 4 s ....... 1937 ..........
2d, 7 g .............................1897 M A N 103
100 Jan. 103 Mar.
Brooklyn Elev. 1st, Gg-----1924 A & O
9G a. 9778 Feb. 102 Jan.
Cairo Ark. A Texas, 7g.l8 9 7 J A D 98 b. 100*2 Feb. l« 1 Jam
95 b. 95*8 Mar. 100*2 Jan
Union Ele\ated.—Gg-----1937|M A N
Gen. R ’y A land gr.,5 g .1 9 .il'A A O 77*2b. 78 *2 Mar.
81*2 Mar.
97 Feb. 100% Mar. M obile A Ohio—New Gg___1927 J A D *11**4Ij. 117 Jan. 119 Feb.
B ’k lyiiVVbrttfeW.il—lst,5s,g.f45 F tfe A 100*2
Canada sou tn ein.—1st, 5s,1908 J A J 109 b. 106 Jam 1093s Feb.
Geueral mortgage, 4 s. .. 19381M A S 65% 1). 6234 Jan.
68 *2 Feb.
2d, 5s.................................. 1913 M<k 8 104 *2a. 103*2 Mar. 10678 Feb. Nash. Ch. A St.L .—1st, 7 s ..1913 J A J '1 2 8 b. 127 Feb. 128 Mar.
Cent.Ga.S.&VV. 1st con s.,5sl929 ...........
Consol., 5 g ........................19 y A A O *101381, 100 Jan. 102 Feb.
Central o f N. J .—Cons.,7s, 1899 Q—J 108 b. 109 Mar. 110*2 Mar. Nat’l Starch Mfg.—1st 6 s.. 1920 M A N 93 b. 92 Jan.
95 Jam
.. 115*2 Feb. 119*2 M ir. N. Y. Central—D ebtext.4s. 1905 M A N 102*41) ; 100*2 Jan. 103 Feb.
Consol., 7 s ....................... lv«02:M A N
General m ortgage, 5 g ... 1987:J dt J 115 b. 112% Jan. 119*2 Feb.
1st, coupon, 7 s.................1903 J A J 119 b. 118 Jan. 120*2 Mar.
103 Mar. 106 Feb.
Leb.tfe W. B.,con., - s,as’d .l9 0 0 Q—M 105
Deben ,5 s .c u p . , 1884.. 1904'M A S 106 *4b. 105*2 Mar. 109 Feb.
“
m ortg ag e5s.l9 12 M & N|
N. Y. A Harlem, 7s, r e g ..l9 0 0 M A N
92% Mar. 9234 Mar.
Am . D ock <fe Im p., 58___ 1921 J A J *112 b. 111*2 Jan. 114*2 Mar.
R. W. A Ogd., consols, 5S.1922 jA A O 117
116*2 Jam 119*4 Feb.
Central P a ciiic.-G o ld , 6s. 1898 J A J 103 b. 99*2 Jan. 103*2 Feb.
W est Shore, guar., 4s ...2 3 6 1 J A J 1055s 104 Jam 106% Feb.
Cbes. A Ohio.—Ser. A , 6g..2 908 A & O '1 1 8 b.
N. Y. Chic. A St. L.—4 g .,.1 9 <7, A A O 103
102 Jam 105 Feb.
11734 Mar. 11734 Mar. IN. Y. L ack. A W.—3 st, 6 s .. 1 9 2 1 !J A J 128 b 129 Jam 133*2 Feb.
M ortgage, G g ....................1911 A & O
104*8 Jan. 109*4 Feb. I Constructiou, 5s..............1923 F A A 113 b. 112% Mar. 113*2 Apr.
lstco u so l., 5 g................... 1939 M & N 108
78*4 Feb. N.Y. L. E.ifeVV.—1st,con.,7g. 1020 A 8 133 b. 135 Jam 140 Feb.
General 4*28, g ................. 1992 M & S 73 b. 68*4 Jan.
9134 Jan.
96 Feb.
B. A A .D iv ., ls tc o n ., 4 g .l9 8 9 J & J
95*8
2 consol., 6g.....................i9 6 0 J A D
71*2a. 166% Jan. 175 Feb.
81 b. 82 Feb.
“
2d c o n .,4 g .. 1989 J A J
85*2 Feb.
Long Dock, consol., 6 g.1935 A A O 129 b.
Eliz. Lex. A Big. S a n .,og.l 902 M A S 100*2a. 98 Jan. 102*2 Feb. N.Y. N. H. A H .—1 ou. deb. ctfs A A O 135 a. 135 Jan. 137 Feb.
Chic. Burl. & Q.—Con. 7s-19«»3 J A J 117% 115*2 Jan. 118 Feb. N.Y. Out. & \V.—Ref. 4s, *.1992 M A S 89*2
88*4 Jam 93*4 Feb.
Debenture, 5s..................1913 M A N r 99 %a. 99 Feb. 101 Feb.
Consol., 1st, 5s, g .......... .1939 J A D 109 b. 107 Jan. 110 Feb.
•• • 5
- s............. ...19C
-------M
99*2 Mar. 104% Feb. N.Y.Sus.A W. 1st ref.,5s, g.1937 J A J
Convertible
3 & 8 100*8
97 a. 96*2 Mar. 100 Jam
94
94% Mar. 95 Jan.
D enver Division 4 s .........1 9 .2 F A
Midland o f N. J., 6s, g ,..1 9 1 0 A' A" O' 116*2a. 115 Jam 118 Mar.
91
87*2 Jan.
91 's Feb. Norf. A W.—100-year, 5s,g. 1990 J A J
64 b. 60 J am
Nebraska Extension, 4s. 1927 M A N
67 Feb.
M
A
8
115
116
Jan.
Han. A 8t. Jos.—Cons.Gs.1911
118*4 Jan. No. Pacilio—1st, coup. 6g. 1921 J A J llo*4 b . 113*4 Jan. 118 M ar.
112 Jan. 115*4 Mar.
Geueral, 2d, coup., 6 g ..l9 3 3 A A O 110*2 100 Jam U4*o Mmr.
Cliie. & E. 111.—1st, s. f. Gs.1907 J A D G 14
123 Jan. 126*2 Fob.
Consol. Gg..........................1934 A A O 121
General, 3d, coup., 6 g ..li)3 7 J A D 74
8 % Mar*
64 Jan.
99 Feb. 102 Mar.
General consol., 1st 5 s ..1937 M A N 102
Consol, mortgage, 5 g ..,1 0 8 9 J A D
5u M »r.
4 8 78
31*2 Jan.
105
%
J
an.
110*4a.
112
Feb.
Chicago A Erie.—1st, 9 g ..l9 8 2 M A N
Col. trust gold notes. 6s. 1898 M A N 89%
91*8 Mar.
76*2 Jam
120 Jan.
28 J an.
Incom e, 5 s........................1982 Oct.
Chic. & N. P ac., 1st, 5 g ..l9 4 0 A A O t 45
137 Jam 146 Mar.
9334 Feb.
91*4b, 90 J an.
Seat. L. 8. A E ., 1st.,g u .6 .1931 F A A i 36
Chic. G asL. A C .— 1st, 5 g .. 1937 J A
f 36 Mar. 145*2 Feb.
128*2 123 J an. 128*2 Apr. No. Pac. A Mont.—6 g ........1938 M A S \ 34%
Cliic. Mil.tfe St. P.—C on.7s.1905 J A
126 J an. 136*2 Feb.
115 a. 115 Jan. 115^8 Mar. So. Pacific Ter. Co—6g ...L b3 8 J A J 103 b. 100 Jan. 105 Mar
1st, southw estD iv., 68..1909 J A
114 b. 112*2 Jan. 11534 Feb. Ohio A Miss.—Corns.f., 7s. 1898 J A J 103*2b. 103 J an. 104 Feb.
1st, So. Minn. D iv., GS..1910 J A
A
f113*2a. 110 Jan. 11334 Mar. Ohio Southern—1st, 6 g ...l 9 2 1 J A D 93*2a. 87% Jam
1st,Ck.A Pac. W .D iv .5 s..1921
94% Feb.
A
1033i Jan. 109*4 Mar.
Chic, A Mo. R iv.D iv.,5s. .1926
General mortgage, 4 g ..l9 2 1 M A N 31 a. 25 Jan.
35 Feb.
A
r112*2a> 106*2 Jan. 112*4 Mar. Oregon Impr. Co.—1st 6 g .. 1910 J A D
82*2b. 80% Mar. 9 1 78 Jan.
Wise. A M um., D iv , 5g .. .1921
A
Consol., rt g ..................... 1939 A A O t 23*8 t 20 Mar. 36 Jam
Term inal, 5 g ............ — 1914
111*4 108 Jan. 113 Mar.
A
92*2
92*2 Apr.
Gen. M , 4g., series A
1989
95*4 Mar. Ore.R.cfeNav. Co.—1st, 6g. 1909 J A J 110 b. 105 J an. 111 Mar.
A D 117
115*4 Feb. 117 Mar.
Consol., 5 g .......................1925 J A D \ 97
Mil. & Nor.—ASt,con.,6s. 1913
190 Jam 198 Feb.
139 b. 138% Mar. 141 Jan. Penn. Co. -4*2g. cou p ....... 1921 J A J 111*4 108*4 Jan. 112 Feb.
Chic. A N. VV.—Consol., 7s. 1915 Q - F
117*2 Mar. 119 Mar. Peo. Dec. A E vansv.—6 g.1920 J A J 10158b 101 Mar. 102 Mar.
Coupon, gold, 7 s ...............1902 J A D 118
Evaus. Division, 6 g . . . . . l 9 2 0 MA S 101 b. 1*01 Mar. L01 Mar.
Sinking fund, Gs.............. 1929 A A O 112 b. 112 Jan. 116 Mar.
Mar.
Sinking fund, 5s...............1929 A A O I l l a. 108 Jan. I l l
2d m ortage, 5 g .................1926 M A N 26 b. 26 Mar. 31 Feb.
Sinking fu< d, deben., 5 s .1933 MAN I l l a. 107*2 Jan. 111*2 Mar. Phi la. A Read.—Gen., 4 g ..ly 5 S J A J t 78*2 171*2 Jam 179*2 Jam
t 3158
103 Jan. 10634 Mar.
25-year debenture, 5 s ... 1909 Al A N 10G
1st pf. inc., 5 g, 1 s t inst pd.’oS
18*4 Jam 136*2 Jam
Extension, 4 s...................192G F A A 100 b. 100 Jan. 101 Jan.
2d pt.inc., 5 g., 1st inst pd.’58
t 18 b.
5 % J am t2238 Jan.
26 Mar. 126 Mar.
3d pf.mo., 5 g., 1st inst p d.’58
Cliic, K .l. A P a c.—Gs,coup. 1917 J A J 126
t 16*4
3*2 Jan. 120 J am
E xten sion a u d col., 5 s . ..1934 J A J 1033a ^00 Jan. 1033s Feb. Pittsburg A Western—4 g.1917 J A J
70 b. 65 Mar. 77 Jam
30-ye,ar debenture, 5 s ... 1921 M A 8 94 b. 92 Jan.
97% Feb. Rio Gr. Western—1st 4 g ..l9 3 9 J A J
7 7 5g Feb.
74*26., 70 Jan.
124 Jan. 126*2 Mar. S t Jo. & Gr. Island—6 g ..l0 2 5 M A N t 48
Chic, St, P. M. A O. Gs.. .1930 J A D 126
40 Feb. 151 Jam
79 Jan.
90 Jan. 6t. L. A San Fr.—6 g, Cl. B . 1906 M A N 115 i III34 Jan. 115 Feb.
Cleveland & Canton.—5 s ..1917; J A J r 80
119 Jan. 127*2 Feb.
6 g., Class C..................... 1906 M A N 115 1 112 Jan. 116 Mar.
V C. C. A 1.—Consol. 7 g .... 1914 J A D f128
.1934 J A J
Geueral mortgage, 6 g ..l 9 3 l J A J 107
Genet al consol., Gg.
101 *2 Jam 107 Mar.
Cons. guar. 4s, g............. I960 A A O 36
C.C.C.&St.L.—Peo.A E .,4s .l9 4 0 A A O 77 b 79 Feb.
80 Jam
36 Mar. 38 Mar.
18*2b 1834 Mar. 23 Jam St. L. A So. W.—1st, 4s, g .10 89 M A N 73*2
Incom e, 4 s....................... 1990 April.
76 Feb.
70 Jan.
Col. Coal & Iron—Gg..........19o0 F A A * 99 a. 94*2 Jan. 100 Jan.
2d, 4s, g., incom e............1989 J A J
28 b. 24*4 Jan.
32 Feb.
I
l
l
b.
M
A
N
Col. A 9th Ave. gu. 5s, g ..l 9 9 3 M A S
119 b. 1L9 Mar. 121% Mar.
111*8 Mar. 114*4 Feb. St.P.M .AM — Dak. E x.,6 g . 1910
C ol.H .V al.& Tol.—Con.,5g.l931 M A 8 8438a. 83 Jan.
1st consol., 6 g ................ 1033r J ~A J 122 b. 117 Jan. 121*2 Mar.
90 Feb.
88 b. 80 Jan.
General, 6 g . . . .................1904 J A D
89 Mar.
“
reduced to 4*2 g ..l J & J 105 b. 101% Jan. 105*2 Mar.
86 Msb. 86 Mar. 8 9 Feb.
D eny, a KioG r.—1 st,7s,g. 1900 M A N 112*2b. 110*8 Jan. 113 Feb.
Montana extension, 4 g . 1937; J A D
88 b. 83 Jan.
90*2 Feb. 1San. A n t A A. P.—lst,4 g .,g u .’43 J A J
1st consol., 4 g .................193G J A J
59 Feb.
55*2b. 51*2 Jan.
Dul. 8o. 8h. A Atl.—5 g ._ .. 1937 J A J c 98 a. 95 Jan.
98 Feb. jSo. Car. A Ga.—1st, 5 g ...l 9 1 9 M A N 94*2b. 93 Jan.
95 Mar.
93 b. 93 Feb.
Erie—4, g, prior bon ds___1996 J A J
94 b. 94 Feb.
97 Feb.
95*2 Feb. So. Paeitic, Ariz.—6 g ...l9 0 9 10 J A J
■ 3-4,
' g ............... 1996
------- J A J
64 Mar. 663s Mar. So. Paciiic, Cal.—6 g . ..1905-12 A A O 107 b. 108*2 Jan. 1 1 1 Feb.
65*2
General,
90 b. 90*4 Mar. 92*4 Jftn.
Ft. W. A Denv. City.—6 g .. 1921 J A D 68 ; 64 Jan. t 70*2 Feb. j 1st consol., gold, 5 g .......1937 A A O
Gal.H .A San.A n-M .A P.D .l»t,5g M A N 9134
93 Jan. So. Paciiic, N. M.—6 g .......1911 J A J 104 b. 101*2 Jam 10tS Feb.
91*2 Jan.
85 Jan.
91
Gen. E lectric,deb. 5 s , g . .. 1922 J A D 91 i
93*2 Feb. Southern—1st cons, g, 5s. 1994 J A J
8 7 78 Jam
93*2 Feb.
E. Tenm reorg lien 4-os. 1938;M A S 90*2a. 90 Mar. 93 >4 Feb.
Hou8. A T. Cent. gen. 4s, g.1921 A A O' 67 b. 69 J an.
70*8 Mar.
Illinois Central.—4s, g ....... 1953 MAN 102 a. 99 Jam 102 Feb.
E T. V. A G —1 st,7 g . . . . 1900 J A J 108 *2b. 107 Jam 109*2 Feb.
Con. 5 g ......................... 1956 M A N 10758b. 105 Jan. 109 Feb.
Western Lines, 1st, 4s, g. 1951 F A A 101 b. 101 Mar. 103*4 Jam
Georgia Pac. Ist5-6s, g_,1922'J A J 113
Int.A G reatN or.—1st, 6s,g. 1919 MAN 117 *2b. 115 Jam 118 Feb.
110 Jam 114 Jan.
71*2b. 70 Jan.
2d, 4-5s............................. 1909 M A S
K u oxv , A Ohio 1st 6s,g .. 1925 J A J 114 a. 113 Feb. 115*s Mar.
77*2 Feb.
90*2 Jan.
Iow a Central.—1st, 5g ___ 1938 J A D 95
Rich. ADanv. con. 6s, g..1915: J A J 118 b. 115 Jan. 118*2 Mar.
95 Mar.
W est.No.Carlstcon.Gs.g 1914 J A J 113
G4*2a. 62 Mar. 71 Jam
K ings Co. E lev.—1st, 5 g .. 1925 J A J
112*2 Feb. 113 Jan.
93*2b. 93 Jan.
96 Jan. Teun. 0 . 1. A R y —Ten. D .lst, 6g A A O 87*2b. 89 Jam
93 Feb.
Laclede Gas.—1st, 5s, g . . . 1919 Q - F
Birmingham Div., 6 g ...l9 1 7 ;J A J 93 b. 89 Jan.
95 Feb.
Lake Erie A West.—5 g ----1937 J A J 115 b. 113 Jam 116 Mar.
L. Shore. -C on ,cp ., 1st, 7s.J 9o0 J A J 1 1 3 58b. 112 Jam 115 Jan. Texas A Paciiic—1st, 5 g ..2 0 0 0 J A D
89
90 Mar.
81 Jam
2d, income, 5 g ............... 2000 March
21% Feb.
Consol, coup., 2d, 7s...... 1903 J A D 11934b. 118 Jam 120^8 Mar.
18 Jam
23*4
Lex. Av. A Pav. F. gu. 5s,g.l9 93 MA 8 11138b, 111 Jan. 114 Feb. Toledo A Ohio C e n t—5 g . .19 35'J A J 107 b. 105*2 Jan. 109 Feb.
118
117*4 Jam 120 Feb. Tol. St. L A Kan. C.—6 g . . . l 9 l 6 J A D t 74%b. t71 Jam 1 77 [Feb.
L ong Isla n d .- 1st con., 5g.l93 1 Q - J
95
93 Mar. 98 Jam Union P a c ific -6 g ..............1898 J A J 104% 102*8 Jan. 105*4 Jan.
General m o rtg a g e ,4 g ... 1938 J A D
105% Jan. 108*8 Mar.
E
x t sinking lund,
8........1899
Louis. A Nasli.—Cons. 7 s.. 1898 A A O 104
........................
™~
-------M A S
90 Jan.
94
97*6 Feb.
Collateral trust, 4*2........1918 M A N t 50% 1 50 Feb. t 54% Feb.
118 Jan. 119 Feb.
N.O. A M obile, 1st, 6 g ...l9 3 0 J A J 115
100
97 Jan.
J
A
J
Gold
6s,
ool.
trust
notes.
1894
F
A
A
97
J
an.
••
2d, 6g. 1930
100 Feb.
93 b. 93*2 Jan.
Kan. P ac.-D en .D iv., 6 g .l8 9 9 M A N 107*2b. 106 Jam 109 Feb.
114 Jam 115 Mar.
General, 6 g .......................1930 J A D 115
J
A
J
1st
consol.,
6
g
..............
1919
M
A
N
j
77*2
Feb.
78
71*2 Jan.
170 Jan.
Unihed, 4 g .........................1940
80% Feb.
t 72*2
Oregon Short Line—6 g.1922 F A A 1112 *4
Louis,N. A. A Ch.—1st, 6s. 1910 J A J *113*4b. I l l 78 J an. 113 Feb.
100 Jam 113*4 Mar.
Or.S.L.AUt’kN.—C
on.,5gl919
170
Feb.
A A O t 66*2 151 Jan.
99 Apr. 103 Feb.
Consol.,, 6g ....................... 1916 A A O 99*4
40 Feb.
3 3g
U. P. Den. A G ulf,com ,5 g. 1939 J A D
Manhattan consol. 4 s....... 1990 A A O ' 94 b. 9434 Apr.
99 *2 Mar.
31*2 Jam
129 Mar. 130% Feb.
Metro. Elevated.—I s 0, 6g. 1908 J A J 118*4b. 116*2 Jan. 118*2 Mar. U. S. Cord.—1st col., 6 g . . . 1924 J A J t 29
2d, Gs.................................. 1899 MAN 107*2b. 106 Jam IO734 Feb. Virginia Mid.—Geu.M., 5s. 1936 M A N 100 b. 97 Jan. 103 Mar.
Mich. Cent.—1 st,cons., 7s. 1902 M A N 117*2b. 117*2 Jam 119 Jam Wabash—1st, 5 g ...............1939 M A N 107*4 102*2 Jam 107*« Mar.
69 Jam
77*4 Feb.
2d mortgage, 5 g............. 1939'F A A
74*2
Consol., 5s............
1902 M A N 106*2b. 106*2 Mar 106*2 Mar.
Mil. Lake 8h. & W.—1st,6g. 1921 M A N 130*4b. 129*2 Jan. 131*4 Mar. West N. Y. A Pa.—1st, 5 g . 1937 J A J 105*2b. 105*2 Jan* 107*4 Jan
49% Feb
Gen. 2-3-4s, g old ............ 1943 A A O
Feb. 114*2 Mar.
40 b. 44 Jam
E xten. A Im p., 5 g .......... 1929 F A A 113 *eb. I l l
Minn. ASt.L.—1st con .5 s,g.l934 MAN *100 b. 96*2 Jan. 101*2 Feb. W est.U n .T eL -O ol.tr. 5 s .. 1938 J A J 107 b 105 Feb. 107*2 Mar
137*2 Jam t46 Feb.
Mo. K .A E .—1st 5 s,g.,gu . .1942 --------------~~
~
86 Jan.
A A O 90 b
43
94 Feb. Wise. Cent. Co. 1st 5 g ....... 1937-J A J
actual aalea only.
i
N ote .—“ b” indicates price bid; “ a” prioe asked; the range is made upi from

* Lateat price tbia week.

1 Trust receipts.

NEW YORK STOCK EXCHANGE PRICES—(Coutiuueil).—IN AC TIVE BONDS —A P R IL 2 .
SECURITIES.

Railroad Bonds.

Bid.

Ask.

SECURITIES.

Bid.

Ask.

Balt. A Ohio—5s, g o ld .............1925

83
90

85

(Slock E xchange P rices.)
W. Va. A Pitts.—D t , g., 5s.. 1990
.........I B. A O.S. W., 1st. g., 4*2S.. .1990
101
A labam a Mid.—1st, g ., g u a r.. 1928
Monom River, 1st, g., g. o s .. 1919
A . T. & S. F.—2d, 4s, Class 4.1989
Cent’l Ohio Reor.—1st,4*23.1930 “ 9 5 "
C bicago& St. Lou.—1st, Cs.1915
Ak.&Ch. J unc.—1st, g,5s,gu .1930
Col. M id 1st. g., 6a..............1936
.....
65
Brooklyn Elevated—2d, 5 s ... 1915 k
Atl. A Pac.—2d W. D., gu. 6s. 1907
3
Seaside A B .B .—1st,g,5s,gu. 1942
Western Division in c o m e ..19x0
Brunswick A W’ n—1st, s.. 4s 1938
B a lt.A O b io- 1st. 6s, Park R .19191 105

SECURITIES.

Bid.

! Buff. Roch. A Pitts.—Gen. 5s..1937 *94
Rock. A P., 1st. 6s................1921 *120
Roch. A Pitts.—C o ts.lst,6 s.l9 2 2
Buff. A Susqueli.—1st, 5s, g ..l9 1 3 *95
Burl. Cedar R apids A Nor.1st, 5s ....................................1906 106*2
Consol. & collat. trust, 5 s.. 1934 *97*2
Minn. A St. L.—1st, 7s, gu. .1927
Ced. Rap. I. F. A N., 1st, 68.1920 *103
1st. 5 s ...................................l ‘>2i *00

Aek.

A pril 4, 1896.]

THE CHRONICLE,

629

M.W m u t STOCK EXCHANGE PII1CES.—1NAOT1VE BONDS—{ContinuedJ—A PR IL 2,
SECURITIES.

B id.

Ask.

SECURITIES.

Bid.

Ask.

SECURITIES.

Bid.

Ask,

-

O.Ohio—Col. A 01n.M U st,4%s.l939
F.
A.P.M .—ls>, 00a. gold, 5 a ..l9 3 9 9 3 % Norfolk A South’n—1st, 5s,g.l9 41 105 n o
Ft. Huron D ir.—1st, Ss — 193S
Cent. RR . A Bank. -C ot. a-.55.IS37 '9 5 100
86
88% Norfolk A West.—General, 6s. 1931 118 . . . . . a
Cent, o f 5*. J.—Conv. deb., 8a. 1908
ria. Cen A Pen.—1st g. 5s.. ..1 918
New River 1st 6s..................1932 110
la to o n . g , , 5 s ........................ 1943
Cent Faciflo—Gold oonds, 6s,1896 100 102
Im p. A E xt., 6s..................... 1934 113
rt. Worth A R. G.— 1st g „ 5 s ..1928
G old bonds, 6 s .................... .1897 101 102
54
Adlustm entM ., 7 s ...............1 9 2 4 100
61
Ban Joaquin Br., 6s........„..1 9 0 0 .‘ 105
Gal. Har. A Ban Ant,—1st, 6 s .1910
Equipm ent, 5s........................1908
105
75
2d mort., 7a.............
....1 9 0 5 100 10 1
Mort. gold 5 s .......................... 1939; *90
Clinch Val. I s t 5 s ................. 1957
Ga. Car. A Nor.—1st, gu. 5s, g.1929
Land grant, 5s, g ....... ...........1900
65"
Hd. A Wash. Div.—lst,g.5s,1941
Cat. A O. Div., e x t,, g. 5 a ...1918. 102*
Grand Rap. A Ind.—Gen. 5 s,.192 4
R oanoteA So.—1st, gu. oa, g.1922
G. B. W. A 8 t. F .—1st, con. os.1911
West. Pacific— B onds,6s-----1899; 102
Scioto Val. A N .E .—1st,4s,.1990
85%
S o. Railway (Cal.)—1st, 68.1907
2d Inc. 4a................................ 1906
Ohio A Miss—Consol. 7 s .........1898 i o 3 i j
1%
___
50-year 5 s ........................... 1933; '9 0 %
H o tsatonlo—Cons, gold 5s___1937 122*3
2d consol. 7 s ........ ............. ..1911 '100
’ Ctoes. A O .-P tir. M. fund, 6a. 1893 104»s
Sprm g.Div.—Ist7 s............... 1905 104% . . . . . .
ST. H avenA D erby, C on».5s..l918 '112
Craig Valley—1st, g., 5 s-----1940; '93
Houa. A T . C.—Waco A N. 7s..1903 125
General 5s...............................1932
......
W arn Spr. VaL, 1st, g. 5 s - 1911
1st g., 5a (in t gtd )................ 1937 108 109
Ohio R iver B R .—1st, 5s..........1936 i o i " “
Cons. g. 6s (int. gtd ).............1912
Gen, g .,5 s ............................... 1937
85 . . . . . .
Uaes. O. A Bo. West.- 1 s t 6s, g . 1911
107%
50 ____ Tj,
Id , 6s....... ...............................1911
Debent. 6s, prin. A int. gtd.1897 ♦87
Omaha A St. Louts,—1st, 4 s ..1937
Oil. V .-G en .oon .lst,gu .g,58.1939
90
Oregon A Califor.—1st, 5s, 2.1927
82
Debeut. 4s. prin, A Int. g t d l8 9 7
78
Chicago A Alton—8 .F ., 6 s .... 1903 117
Oreg. R yA N av.—Col.tr. g..5s.l919 '6 0
66
Illinois Central—1st, g., i s ...1 9 5 1 107
Lonls. A Mo. River—1st, 79.1900 107
1st. gold, 3% a........................ 1951
Penn-P.C.C.ASt.L.Cn.g.4%sA1940 . . . . . . 109
2d, 7 s . . . . . ............................ .1900 1106
Do
do
Series B ___ _ *107^ 109
G old 4 » ..............
1932
P .C .A 8.L .-lat,0„7s................1900
Cairo Bridge—4 s ................... 1950
S t L . Jacks. A C M c 2d, 76.1893 ' 102
M lss.8. Bridge—1st,s. t , as.1912
Springf, D iv.—Coup,, 6s___ 1898 104 105
Pitts. Ft. W. A O.—1st, 7 s ...1912 ........ 142
Obts. Sort. A N o r .-le t , 5 s . . . . 1926 ' 106
2d, 7 s .................................. 1912
Middle Diy.—Reg., 5s.......... 1921
3d, 7 s....................................1912 127 130
Debenture fls................
1896:
0. 8t. L. A N. O .-T e n . L, 7s. 1897
Unio. Barling. A Q.—5s, s. 1..1901;* 101 104
C h.8tL .A P .—1st,oon .5s,g...1932 '1 1 4
1st, consol,, 7s..................... 1897
____r
Iow a D ir.—Sink, fund, 5 s ..1919;
Gold, 5s, co u p o n ................1951 '110
Clev. A P.—Cons., s. fd ., 78.1900 117
97
Gen. 4%s, g., " A .............1942 *102 103%
Sinking fu n d ,A s ..........
1919.
Memp. Dtr., 1st g. 4 s....... 1951
89* Ced, Palls A Minn.—1 st,7 s..1907
Plain, 4s.............................. ..1 921, 88
St. L.V. A T , H . - l e t , 6s., 78.1897 101
......
90
107% Ind. D. A Spr.—1st 7a, 1906, trust
2d, 7s....................................1898
3U eago A Iowa Div.—Se. -1 9 0 5
Cole. A Indiana Coal—1st 5 s .1936; "96'4 93%
2d, guar., 7s........................ 1898 *103% .........
rants., e x bonds ___
30
25
G d.R .A l.E xt.—lat,4% s,G.g,1941
O il. MU. A St. P .-l* t,8 * ,P .D .1 8 9 8 100%
98 81 102
Ind Dec. A W.—1st, g , os___1935
Peo.AE.-Ind.B. AW.-1st,pf.78.1900
44, 7 3-10a, P. D ......................1898‘ 123 127
Ind. Ills. A Iowa.—1st, g, 4 s ..1939 *84
87
Ohio Ind.AW.—latpref.58..1938
1st, 7s, $ x,, B. D ...................1902,' 126 128
let, e x t , g. 5 s ........................1943 '
—
128
Peoria A Pek. Union—1st, 6 s .1921 111%
Int. A G. N’ n.—3il, 4s, g ....... 1921
le t , I. A M,, 7 s . . . . . .............. 1897
27
2d m ortg., 4% s...................... 1921 . . . . . . 71%
58
Kings Co.-F.EL, 1st, 5, g.,gn.A. 1929
U t ,I . A D .,7 s ...................... 18 99/ liT" 127
103% Pitts. Oleve. A Tol.—1st, 6s... 1922
1st ,C. A M .,7 s...................... 1903
Lake Erie A West.—2d g,, a s .1941
1st, I. A D, Extension, 7 » . . . 1908
Pitta. A L. E r .-2 d g. 58, “ A ” . 1928 . . . . . . . . . . . .
N-irih'n Ohio—1st, gtl g. 5S.1945 102 104
Pitts. Mo. K. A Y .—1st 6s----- .1932
1st, La C. A Oav., 5 *............ 1919 ' 110 |..... L. 8. A M.80U.-B.AJS.—New 7 s .’98
Pitts. Painav. A F.—1st, a s ... 1916
Det. 51. A T.—1st, 7s............ 1906
1st, H .A D .,7 s ..................... 1910 .........|l25
90
Pitts. Shell. A L .E .—1st,g .,5 s.1940
1st, H. A D .,5 s ....................1 9 1 0
Lake Shore—D ir. bonds, 7 s . 1899
lsteon a oi. 5a.......................... 1913
Chicago A Pacific D iv., 6 » ..1910, i T i % ........
KaL AIL A G. R . - l s t gu. 5s,1938
"B o"
Pitta. A West.—M. 5s, g.1891-1941
M ineral Point Dly. 5 «........... 1910 105% 106%
Mahon'g Coal R E .- 1 s t , 58.1934
Pitts. Y 'g sfn A A .—1st, 5s,con. 1927
LvhighV .S'. Y. - l , t gn.g.4i2*.19i0
0. A L. Sup. Div., 5s............. 1921 108% 110
103
Fargo A South., e », A «s u ...l9 2 4
110 Rio Grande So.—1st, g., 5 s . . . 1940
Lehigh V .T e m .—ls t g u . 5 s ,g .i9 4 i
St. Jos. A Gr Is.—2 d in o .........1925 ......... .........
•Ino. oonv. sink. fu u d .S s___ 1916
;Lehigh V y C o a l—Islos.g u .g . 1933
Kan. C. A Omaha—1st, 5 s ..1927
Dakota A Gt. South., 5a. ...1 9 1 6
108 ildtohf. C ar.* West.—1st 6s. g.1916
S t L. A. A T. H .—Term. 5 a .. 1914 104
M ILA Nor. main l i n e - S » ...1910 116
25
....... U tile Book A 51.—1st, 5s, g .,1 9 3 7
Believ. A So. 111.—lac, 8 s ...1896
1U* Long Island—1st, 7 s ................1898 107
Ohio. A S o rw .-3 0 -y e a rd e b .5 s, 1921
Bellev. A Car.—1st, 6s.........1923
Bsoanaba A L. 8, 1st, 6 s ....1 9 0 1
90
Ferry, let. g., 4%a................ 1922
Chi.St.DAPad.—1st,gd.g.5s 1917 . . . . . . 104%
DeaM . A Minn.—1st, 7s. ...1 907 ;
1932
!l Gold 1 . . . . . . .............
St. Louis So.—lat, gd. g. 4 s .1931
Iow a Midland—1st, 8 s .........1900
, N. Y. A R 'w a y B.—ls t .g .5 s .1927
do
2d incom e ,58.1931
70 ‘
S olo, A Milwaukee—1st, 7s. 1898 ' 106
2d tnortg., i n o .. ................ 1927
35
42%
Oar. A Shawt.—1st g. 49----- 1932
Win. A 8t. P.—2d, 7 * . . . . . . . . 19071
N. Y.AMan.Beach. —1st, 7a, 1897 100
St. L. A S. F.—2d 6 s,g., Ol. A .1906 115
MIL A M ad,—1st, 6s............. 1905; n r 115
N .Y.B.A1LB.—1st con. 5s,g. 1935
General 5a....... .......................1931 __ _ ,T '98
OU. 0. F. A St. P —1st,5s. i s o s
Brookl’ nA M onU uk--lat,6».19U
83%
1st, trust, gold 5s.......... . .. 1987
northern 111.—1st, 5 « .. . . . . . 1910
;
1st, 5 s .................................. 1911
Kan. City A 8 1st, 6s, b . . . 1916
No. Shore Br —lstoon .5 s.g .l9 3 2
MU. L. R A W .-C o n .d e b .,5s. 1907
Ft. 8. A V . B. Bg, —lat, 6 s ... 1910 *93 . . . . . a
Mlob. Diy., 1st, 6 s .... . . . . . 1924
;Louie. Evan »-A 8t. L —Con. 5s. 1939
......
Kansas Midland—1st, 4s, g,1937
Ashland D ivision— 1st, 6* 1925;
L ouis,A N ash.—C ecil.Br. 7 s ..1907 104
90""
83 1 E. II. A Nash.—1st 6s, g ___ 1919
117% St. Paul City Ry, eon. 6s, g .,.1 9 3 7
C R B . I. A P ~ D, M.A 1. D. I s 14*. 190 •> •80
90
Gold 5s, g u a r ..................... ..1 9 3 7
1st, 2% e........
1905
Pensaooia Division, 6 s.........1920 *105
.........
St. Paul A Duluth—1st, 5s___ 1931
1005
Extension, 4 * .......
8t. Louis Division, 1st, 6 s ...1921
2d mortgage 5s...................... 1917 101 .........
Mu
11, 7 :...
7 ’ . .................................. 1980
Esoknk k i
1
S t Paul M mu A SL—1st, 7 s ..1909
Chlo. St, P, A Minn.—1 st,6s. -.1918! 126 123 ; Nashv. A Decatur—1st,7a.. 1900 108
2d m o r t ,68.............................1909 i i e i i'io
St. Paul A H. a —1st, Os.......1919;
.........
B .f.,0*.—8. A N, Ala............ 1910
125
Mlnneap. Union—1st, 6 s___1922 *
Chic. A W. Ind.— U t, 8. f., 6*. 1919
........
50 year 5s,
....................... 1937 *98
M on t Cen.—1st, guar., 6 s ..1937 115 116
100
m ortgage,O s.. . . . . . 1932) 116
...„
Peas. A A t.- 1st, 6a, g o ld ... 1921
102
le t guar. g. 5 s.....................1937
C U R A W est Mum . —5 * ........... 1931‘
CoUat. trust, 5s, g . . . . . . . . . . 1 9 3 1 100
E a s t M inn., 1st d ir. 1st 5 s .1908 1041?
c t » Mato. A D.—Con. s. I,, 7S.1905 114
..... I ; L .A S . A M.AM.—Iet,g.,4 % *l9 i8
W llm arASiouxF.—1st, g,5s.l93S
1937
24. gold. 4 i* )................
106%; Nash. Pliir.AB.—1vt, gu., os. 1937 80
San Fran. A N. P .—1st, g., 5s.1919
Ola. D. A I r ’ n —l*t.gtt. M , g .l9 4 i;
108%' Kentucky Central—4s, g . .I 9 b 7 '3 8
g a r.F l A W est -1 st, c o n .g .6 s .l9 3 i ‘ 110 114
OleT. 4k. A C o t—Eq. A 2d 6s. 1930
........ (ILoa.AJeS.Bdge Co,—Gu.g,4s. 1945
Southern—Ala.
O eu t, iac 68.1918 *107 112
73%
CLC.C. A fit. U - G e a ., g. 4 S ..1 9 M
....... Lou,N, Alb. A 0h.-U en.ffi.g.5«. 1940
A d . A Char.—1 s t,pref., 7 s .. 1897
Cairo division, 4 a .................19391
30
. . . . . . ; |Menjpliis A C h a ri—6s, g o ld .. 1924
Inoome,
6
b
.
.
. . . . — . — ..1 9 0 0
St.Loil.iJie.—l«ti*j!.U'i4-«,g. 1990. 93% 95 j 1st eon. Tenn Uen, 7 s ...... .1 9 1 5 100
Colutu. A Green.—1st, 5-68.1916
eprlng.A Col.D le.—lst,g .4 ». 1940!
sMexican Cent. Consol.—4s, g.1911
E.
('ona.
V.
A
G
a .—Divia.58 1930 i ' i i " i i Y "
wWteW.VaLDtv.—1*L«. 4*. 19 to
\ 1st, cons, income 3s, g ........ 1939
Rioh.A Dan.—Eq. s. f. g. 58.1909
98%
C tn.W abAM . Div,—Is t,g.4s, 1991
M et. International—1st, 4s,g.l942
83
Deben.
5s,
sta
m p ed .........1927
99% .........
Ota. L S t. h> A C.—Xst,gi,4s.l936 *93
iM exican National—1st, g., 8s. 1927
O * o « o l, 8* . . . . . . . . . ------ ...1 9 2 0
t 2d, Income, 6«, " A " ..............1917
Series B, 6s............ ............1911
10
.....
.... 2d , Incom e, 6 s , B ” — .....1 9 1 7
Cln.8an.ACL—C on.l*t,*.5», 1928; 106
.........
a Col. Cm. A Ind.—1st. 7e,».L1899, 107%, 109% Michigan Central—6 s.............. 1909
Series D, 4 -5 s . .... ....1 9 2 1
Consol, sink. fund. 7s ____ 1914! . . . . . . . . . . . il (im p o u .S s ......................... ...1 9 3 1 113
Series F, 5 s.......................... 1931
a n .A 8 p r .-ls t,tt & & A L 7 s ,1 9 0 1 i .......
M ortg a g ees.......... ................1940 *100
Wash.O.AW.—lstour.gu.4s.1924 ........ .........
Clove. Lorain A V, h .-1 s t , 5s. 1933: '1 0 4 ! .........j B at.C .A 8trgi4.-l»t,3H ,g.gu.l989
Ter. As’ u of St. L.—1st, 4%s,1939
C iere A Mali. V.—GoM , 58-..19381 *H 7% 121
Minn.A at. L.—1st, g. ? » . . ..1 927 140
1st, oon. g. 5s...............1894-1944
Del. Lack. A W .—Mort, 7 s— 1907 .........128% I Iow a Extension, 1st,7s......... 1909 126% 128%
S t.D M e r.B r .T e n n .,g .5 s ,g u ..l9 3 0
Barra. Bing. A N. Y.—1st, 7s. 1906. ........ : ..........! Southwest E xt.—1st, 7s.........1910 126% 128%
M otn » A Essex—1st. 7s___ 19 H 113%’ .........n Pacific E xt.—1st, 6b ..... ...1 9 2 1 117
......
Bonds, 7 s . . . . . .................. ..1 900' 114 116 ;M o.K .A T ex. —1st, ext,, 5s, g.1014
„. . . . .
*95
lonsol. 5s, g .................
7s of 1871............................1901 m « n a * » i M o.K.A X'.ofTex.lst,gu.5s.g.l942 *78 "
Tex. A Pae,, E. D.—1st, g. 6s,190o *106% . . . . . .
70
1st, c on ., guar., 7 » . . . . ___ 1915; 139 142 1 Kansas c it y A P ., 1st,4 s,g .. 1990 '0 7
120
122b8
Third
Avenue
(N.Y),—1st
5s,
1937
Warren -2 d , 7s , . . . . , . ., ,..,1 9 0 0 •111 *.........I Dal. A W aco—1st, 5 s ,g u .... 1910 * --T -r 85
82%
T.AO.C.—K au.A M ., Mort. 48.1990 *82
80
D ,A II.C »n .—Pa. D lv„ooap.7s,1917 143
___ Missouri Pacific—Trust 5 s.. .1917
T
o
l.P
.A
W
.—
lst48,tno.f’d.oou.July
*78
r-w«it 65
Albany A SU*q —1st, g a ,,7 a l9 0 6
. • 1st OOlL,
coiL, 5s,
g........................
1920
....... ................1920
5S, g
Ulster A D el.—I»t,oon .,b .,5 s.l9 2 8 102 103%
St L.AI. M .-Ark.Br.,1st, 7s. 1895 102
1st, eons-, guar., 6s......... .1906
103is 103%
114
Bens, A Bar. 1st, coup., 78,1021 144
Mobile A Ohio—1st ext,, 6 s ...1927
103% 104
84
88
Deny. Tramway—Cons. Us, g, 1910
I 8t. L. A Cairo—4s,guar....... 1931
104% 105
1st,
6
s.....................................
1699
1Morgan’s La. A T.—1st, 6s.. ..1920 116
Metropoi. Ry.—l»LgU- g.6s-.10ll
......
95
Collateral T ru st,6s............1 9 0 8
Done. A R, G .—Im p,,g., 5 * . . . ' ~~
1st, 7 s...................................... 1918 ■121%
70
Collateral Trust, 5s....... ....1 9 0 /
D%.M . A ML—I* g. .*H-seec.A. 1 9 1 1 ; 1 8 % 20 jj fash. Chat. A St. L.—2d, 6 e ..l9 0 1 . . . . . . 110
107%
Kansas Pacific—lBt 6s, g . . .1895 106%
i. O. A. S o, R —Pr. L, g., 6s..1915
_____
1st, 6s, g ...............................1896 107% 108%
102%
102
«. Y . C entraL -D eb. g. 4
4*, gold..
im m eve..*
C. Br. U V - F . o . , 7 s . . . . . . .1890
1937| ......... . ...rvJl N. J. Juno—Guar. 1st, 4 s ...1986 *100
37
Afceh.
Col. A Pac.—1st, 6a...T905 *34
1897; 105% 106 Ha Beech Creek—1st. gold, 4 s. .1936 *105
AtcU. J. Co. A W .- l s t , 6 s...1905 *30 . . . . . .
t
Oaw. A Rome—2 d ,5 s,g .,g u .l9 1 5
1910! 112
*32
U.
P.
Lin.
A
C
o
l—
1st,
g,,
5s.
1918
Utica A Bl. R lr.—4s, g., gu.1922 *103
1023! 105
31
Oreg.8.L.AU.N.,coi.trst,58.1919 *28
N. Y. A Put.—1st, g., 4s. gu. 1993 102
4t.h, extended, 5s.........
1920 112
Utah A North.—1st, 7a........ 1908
5tt„ extended, 4 s . .....
N. Y. N. H. A H .—1st, reo. 48.1903
1928 *102
*95
G o l d , 5 s . . . . - ..................1 9 2 6
N. Y. A Northern—1st, g. 5 s ..1927 ‘ 113
1st, con., g.. I 'd ,7 s . . .
1920; . . . . .
66
68
Utah Southern—Gen., 78 ..1909
73
. Y. 8uaq, A W est—2d, 4% ?. 1937
i B i e i 'i a i
........
......
66
Exten., 1st, 7s...............1 9 0 9
65
69
Gen.
m
ort.,
5s.
v.......
..........
1940
1969} .........
Valley
R
'y
Co.
o
f
O.—Con.
6s.l921
........
84
86
'I; . A 8. W.—Mortg. 6s. ,im H ! . . . . . .
W llfcA East.—1st, gtd,, g.os, 1942
W a b a s h — Debenture, Ser. A ,.1939
60
Jeflerson—1st, gu. g, 5 » .
Northern Pac.—Divid’d scrip ext.
1909; . . . . . .
26""
Debenture, Series B .............1939
19221 . . . . . . •-rrv-*- ij James River VaL—1st, 6 s ..,1936
98%
Det. A Chic. Ext. 1st, os, g ..l9 4 0
92
'
Spokane
A
Pal.—1st,
6s----.1936
.1913] 106
105 ______
St
L.K.0.AN.
St.C.Bdg66s.l90i
E ans. A Terre Haute —
8*.Paul A N, P.—Gen., 6 s ..1923 r i r
.
.
....
40
10 •rnmmmm West N.Y.A pa.,gen.g. 2-J-4S. 1943
1st, cons,. 6 s , . . , . . . . . . . . .
192l| 108% 110 l| HelenaARedM'n—lst,g .( 6s. 1937
12
......
1 s t ,g e n eral,g., 5*
.1 9 4 2 1 ____
11 Duluth AManitoba—lsl.,g.0sl936 . . . . . . . . . . . . w i r v a - a A P ^ - i V t a d l i ?
DoLAMan Dak.Dly.—Ist6s.l9 37
19331 ........ . . . . .
Wheel.AL.E.—1st. 5s, g o ld ...1926 • ~ 7 . i o T
C®ur 4 'A to n e - 1st, 6a, gold, 1918
19301 . . . . . .
Extension A Imp, g., 5s.......193C
Gen. lst.g ., 6s....................1938
Evans. A Indian.— 1st, m m . .1926 . . . . . .
Wla.
Cent, in com en s.............. 1937 .......... 10
30%
Flint A P. M a r e .-M o r e , 6*.. .1920 *113 115 H C ent Washington—lj>t.g, ,6s. 1938
* No price Friday) these are the latest quotations m v ie this week.

For nuaellaueona and. Uolleted Band*.-flee 3d page preoedlng.

THE CHRONICLE.

630

R oads,

g m rc stw e u t
g^ailrxtful %u\zXlx%mtz.
EARNINGS.

The following table shows the gross earnings of United
States railroads (and also a few Mexican and Canadian roads)
for the latest period reported. The statement includes every
St e a m road f r o m which regular weekly or monthly returns
can be obtained. The first two columns of figures give the
gross earnings for the latest week or month, and the last two
columns the earnings for the calendar year from January 1 to
and including such latest week or month.
The returns o f the street railways are not included in this
.able, hut are brought together separately on a subsequent page
Latest Gross Earnings.
Boads .

W eekorM ol

1896.

1895.

Latest Gross Earnings.
I Week or Mo

AND

R AILRO AD

[V ol .

Jan. 1 to Latest Bate.
1896.

$
$
3
12,161
AdirondacK....... Ja n u a ry...
12,160
7
308,637
A la.G t.bou rn. .. Mil wk Mur.
27,009
3
64,22c
Ala. M idla n d ... Ja n u a ry...
64,223
i
360,531
Allegheny V a l.. February-- 171,823
7
269,266
A n n A rb or......... 1th wk Mai
30,271
3
8,502
Arfc. M idland .. . January.. .
8,502
3 4,693,616
A teh .T . & S. Fe. F ebruary.. 2,208,952
127,426
A tlanta & Char. J amuary.. . 127,426
5
50,91;
A tlanta & W. P. Ja n u a ry...
50,913
3
113,881
Atlan. & D anv.. Oil wk Mar.
11,676
L
13,44(
A ugustaSout’n. February..
8,197
222,55£
Austin & N’west November.
20,306
i
49,292
Balt.Ches.& Atl. February..
23,173
1,385,877
B.AO.EastLlnes Ja n u a ry... 1,385,877
443.06S
W estern Lines Ja n u a ry... 443,068
1,828,945
T otal..............Ja n u a ry... 1,828,945
1,336.931
B al.A O .S ou’w . . 3d w k Mar. 125,598
50,025
Bangor&Aroost. January...
50,025
2,047
Bath A Ham’nde January.. .
2,047
3,956
Blr. & A tla n tic.. February..
1,829
> 458,592
Brooklyn K ie v .. ith w h M a i
48,118
Briinsw’k&Wehi D ecem ber.
49,261
532,00c
627,686
Bnft.Rooh.APitt 3d w t Mar.
49,294
1,038.062
B a r.C .R a p .A N . 3 d whM ar.
96,839
82,224
Camden A A n .. February..
39,977
3,828,053
OanadlanPacilU 3d wk Mar. 341,000
........
Cape F. A Y ad.V, 3d wk J an.
12,902
10,783
Car.M idland___F ebruary..
5,579
1,018,994
Cent, o f Georgia F ebruary.. 507,144
1,831,117
Central o f N .J .. February.. 821,550
C entralPaoiflo.. Ja nuary... 856.490
856,490
Char. Cl. A Sut.. February..
3,367
8,256
53,478
Charleat’n&Sav. January...
53,478
Ches. A Ohio___3d wk Mar. 182,601
2,250,955
C hes.O.ASo.W .. February.. 192,160
395,455
5,162,021
Chlo.Bnr A Q .d February.. 2,568,416
910.553
Ohio. & Fast. Ill 3d wk Mar.
92,247
1,065,159
Ohio.Gt.W est’n . 3d w kM ar.
97,886
6,482,223
Chio.M U.ASt.P. 3d w k M a r
625,811
4,831,541
Chio.&JS’thw’n . February.. 2,384,172
229 057
Ohio.Peo.&St.Jj. Sdw kM ar.
22.173
2,300,435
Chio.R’k l . & P . . February.. 1,117,550
1,174,599
Ohio.St.P.M.AO. February.. 561,812
321,197
Ohio. A W . M ich 3dw kM ar.
28,485
8,660
C ln .G a .* P o rts. February..
4,058
153,161
Oln. J a c k .* Mao. 3d wk Mar.
14,253
Oln.N.O. A T .P . February.. 264,600
540,600
259,000
N. Orl. A N . E. Istw k M a r
23,000
109,000
Ala. & Vloksb. 1st w kM ar
9,000
Vloks.Sh. A P. 1st wk M ar
8,000
101,000
Oln. Ports, A v . February..
18,853
40,4< 6
121,632
01 ev.C a n .A 8o.. 3d w kM ar.
11,064
C i.Cln.Ch.ASt.l 3d wk.Mar. 219,604
2,747,165
Peo. & East’n F ebruary.. 139,490
294,289
O l.Lor.A Wheel. Sdw kM ar.
22,434
253,153
Col. M idland___February.. 140,750
290,217
412,370
Col. H .V .& T o i February.. 209,736
160,913
Col. Sand’y & H 3d wk Mar.
13,102
2,000
Colusa & Lake . February..
1,100
1,178
Crystal.................January...
1,178
63,703
Oumb’ l’ dYalley. January...
63,703
1,623,149
Denv. A B io Gr 4th wkM ar 169,300
26,829
DeaM . A K an. C. 3d w kM ar.
2.365
Des M. N. & W .. February..
39,224
74,437
204,547
Dst.Lana’ gANo. 3dw kM ar.
18,393
39,656
D et.&M aoklnac January...
39,656
2,155,613
D ul.AIr’nRange November. 100,998
388,326
DoluthS.S.AAti. 3d w kM ar.
35,601
Elgin.Jol.&East February.. 102,168
209,510
84,741
E rie...................... February.. 2,122,191
4,438,191
Eureka Springs. Decem ber.
4,961
62,889
Evans.A lnd’plie 3d w kM ar.
5,568
63,802
19,757
Evans. A Rloh.. 3d wkM ar.
1,956
2,131
Bvansv. A T. H . 3d w kM ar.
21,472
242,538
Fitchburg.......... February.. 491,042
1,089,059
614,589
Flint & P.Marq. Sdw kM ar.
56,108
Ft.W ’thADen.U. January...
74,601
74,601
87,063
7,323
Ft.W. A R io Gr. 3d w kM ar.
4,929
1,762
533
Gads. A A tt. TJ. February..
799
28,441
394,573
G eorg ia B R ....... 3d wkM ar.
25,266
124,925
Georgia A A la .. 2d w kM ar.
11,122
8,684
54,932
171,405
G a.C arta A No. February..
76,890
157,169
G eo.So. A F la .. February..
71.023
57,579
40,715
428,733
Gr. Rap. A Ind. 3d wkM ar.
40,814
89,730
8,393
C ln.R .A Ft.W . S dw kM ar.
7,954
806
10,266
.TraverseCity. 3d w kM ar.
865
27,354
2,551
Mus.G. R. & I 3d w kM ar.
2,860
52.465
546,084
T ot. all lines 3d w k Mar.
52,493
Grand T ru n k ... W kMar.21 323,323 340,180 3,603.869
52,501
742,316
Chic. A G r.Tr. W kMar.21
69,880
185,276
19,093
D etG r.H .A M . W kM ar.21
16,297
7,234
2,694
Gnlf A Chicago. February..
4,260
Great North’n Bt.P. M. A M. February.. 880,310 683,973 1,732,7251
95,136
228,038;
East o f M inn.. February.. 122,570
298,537:
MontanaCent. February.. 143,939 110,464
Tot. system . February.. 1,146,819 889,573 2,259,300!
2,779
7,520|
3,648
H oos.Tun.AW il. February.,
273,532
nous.A Tox.C eil. January... 273,532 316,116
8,004
22,200!
11,500
Humest’nAShen 'February..
Illinois Central. February.. 1,571,288 1,415,304 3,383,565*

1895.
*
14,503
322.388
47,040
345,722
241,723
9,023
4,303,645
131,501
41,025
101,545
6,873
230,741
38,019
1,229,219
469,216
1,698,435
1,368,139
49,354
1,635
2,210
591,998
536,180
593,335
780,410
74,978
2,967,068
5,048
787,669
1,646,168
786,905
4,205
53,241
1,987,081
342,236
4,565,440
843,583
691,918
5,346,182
3,827,178
192,881
2,135,419
907,611
325,365
8,588
129,540
509,847
242,160
90,582
96,983
36,991
129,395
2,771,951
260,678
229,052
221,026
383,339
162,980
2,200
639
68,633
1,490,867
17,733
45,363
224,696
19,923
1,500,029
349,430
165,433
4,054,335
73,016
63,808
19,848
209,839
992,912
496,366
90,610
86,805
1,156
282,071
84,546
121,357
128,315
402,481
88,638
8,327
23,264
522,711
3,553,328
562,970
189,292
6,871
1,373,884
181,305
216,322
1,771,511
6,162
316,116
17,263
3,024.460

1896.

1895.

lxu

,

t Jan. 1 to Latest Dais.
1896.
a>
475,188
79,015
685,412
470.476
466,888
8,098
59,201
31,243
103,027
994,404
273.388
44,299
419
133,472
63,654

Ind, Deo. AWest. 14th w k Dec
10,328
14,146
Ind. 111. A Iowa. January...
79.015
71.932
In.A G t.Northrn 3dw uM ar.
54.483
60,514
tln teroo. (M ex j w k Mar.14
47,500
45,110
Iow a Central.. -.! 3d wk Mar.
44,828
29,126
Iron R a ilw a y ... February..
3,880
3,468
Jaok. T .A K . W . February..
30,669
46,739
Jamest’n A L . E. Septemli’r.
4.265
4,362
KanawhaAMiok 3d wkM ar.
8,626
6,806
72.312
K.C.F.Boott AM. 3d wkM ar.
72,631
18,214
K.C. Mem.A Blr. 3d wkM ar.
17,476
Kan. C. N. W — F ebruary..
20,418
17,105
76
106
Kan.C.ABeat. February.
K.
C. Pitts. A G .. 3d wkM
ar.
11,309
9,866
6.869
5,166
Kan.C. Sub. Belt 4th wkMar
7,832
Keokuk A W est. 3d wkMar,
6,401
88,021
5,932
6,542
L. Erie A ll. A So. February.
12,263
6C.2 1 754,588
L. Erie A WeBt.. :j<i wk Mar
62,246
34.134
Lehigh A H u d.. February..
31,118
64,204
L ex’gtonA E ast. February..
14.655
32.142
10,578
Long Island.......Istw k M a r
62.175
70,896
462,937
Los. Ang. Term. February.
9,639
11.808
17,375
32.042
Louls.Ev.ASt.L. SdwkM ar,
26,723
329,967
347.100 356.065 4,384.527
Louisv.ANasnv. 3d wk Mar
59,072
54,042
Louis.N.A.ACh. SdwkM ar,
627,488
Lou. St.L. A Tex. F ebruary..
33,050
29,015
68,440
Macon & Blr lO.. . February..
6,024
5,979
13,314
8,792
Manlstique........ F ebruary..
10.015
21,209
Memphis&Chas. 3d wkM ar.
20,583
17,394
304.959
{M exican C ent.. 3d wk Mar. 176,071 170,917 2,183,452
M exican Inter’l. January.
234,547 196,916
234,547
IMex. National. 3d wkMar.
83,161
75,966 1,015,100
Mex. N ortn em .. January..
75,948
42.108
75,948
57.924
70,872
IM exloanR’way W kMar.21
736.793
10,080
9,017
104.695
M exican So....... 2d wkM ar.
39,056
Mmneap.&St.L. 3d wkM ar.
36.781
413,310
M.
St.P.&S.St.M. 3d wkMar.
75,021
42,494
698.793
Mo. Kan. & T ex. 3d wk Mar. 187,824 197,153 2,526,813
Mo.Pao.&lronM 3d wkMar. 353.000 367.000 4.561.000
10,000
Central BFcb. 3d wk Mar.
146,000
11,000
363.000 378.000 4.707.000
Total........... 3d wkMar.
M obile & Birin.. 3d wk Mar.
5,722
5,521
65,637
M obile & O hio.. 2w k s Mar. 125,935 124,028
715,806
Mont. &Mex. Gif. Decern Der.
1,211,444:
Nash.Chu&St. L. February.
419,338 340,832
882,936
Nevada Central. February.
1,911
1,983
3,638
27,492
N. Jersey A N . Y. Decem ber.
27,249
350.543
New Orl. A S o ’n. December
7.896
12,663
89,026
N. Y. C. A H. R .. February.. 3,206,641 2,966,689 6,684,607
N. Y. Ont. A W .. 3d wkM ar.
655,430
53,298
63,555
N. Y. Susq. & W .. February.
322,663
144,168 157,984
Norfolk A West 3d wkM ar. 234,716 193.652 2,569,442
Nortlie’rn (Ga.). January...
6.105
6,105
4,567
North’n Centra) February.. 442,778 448,888
953,987
305,484
North’n Paoidc. 3d wkMar.
303,720 3,177,057
5,892
Ooonee & West. February..
2.936
1,470
Ohio R iver........ 3d wkMar.
16,085
13,454
192,337
Ohio Riv. A Cliae 4th wk Feb
5,530
3,391
38,037
Ohio Southern. February..
62,711
58,246
135,121
Oregon Im p. Co. January... 244.205 262,576
244,205
Pacific M ail— February,. 343,897 334,561
617,371
Pennsylvania. § February.. 4,646.034 4.419,634 9,639,905
16,893
196,270
15,728
PeoriaDee.AEv 3d wkM ar.
45,084
91,940
Petersburg........ February .
37,218
289,095
Phila. A E rie... January... 289.095 249,160
Phila. A Read’g . F ebruary.. 1,350,306 1,444,842 3,075,759
Coal & Ir. Co... February.. 1,504,341 1,975,227 3,357,792
Total both Cos. February.. 2,854,647 3,420,069 6,433,551
768,963
Ph.Read.|AN.E. Decem ber.
62,598
61,95*
Pitts.C.C.ASt.L, February.. 1,179,294 1,084,173 2,405,839
6,900
Pitts. M ar. & Ch. February..
3,475
3.335
124.960
Pitt.Shen.&L.E. 3d wkM ar.
9,946
9,781
300.745
Pittsb. A West- 3d w k Mar.
30,417
29,475
151.745
Pitts. Cl. AToi. 3d wkMar.
16,210
16,289
4.692
42,102
6.336
Pitts. Pa. A F. 3d w k Mar.
494,592
52,100
Total system.. S dw kM ar.
51,319
Pitt.Young.A A . February..
67.643
81.036
138,627
22,129
17,24
45,750
Quinoy O.AK.C. February.
54,848
Rich.Fr’ksb.AP. January..
54,848
54,198
22.212
54,643
Rioh. (fePetersb. February..
26,662
92,677
Rio Gr. South’n 3d w k Mar.
7,046
6,906
40,700
419,870
Rio Gr. West’ n .. 3d wk Mar.
38.600
7,642
Sag.TusoolaAH. February..
9,260
16,401
6,404
12.993
Sag.Val. & St. L. February..
6.051
26,180
285,617
St. L. A. A T. H. 3d wk Mar.
26,150
St.L.Ken’etABo. February..
4.088
2,729
8.277
976,326
St.L. A San Fran. February.
483,470 413,404
74,900
8t.L. South w’rn. 3d wkM ar.
87,400 1,118,300
188.543
91,846
88.083
8t. Paul A Dul’th February..
143,781
San Ant. <RA .P . January.. . 143,781 194,509
50,953
97,254
S.Fran.AN.Pac. February..
47,517
Sav.Fia. A West. J anuary.. . 303,649 319,124
303,649
Sher.Shrev.A 80 3d wkMar.
3,374
6,186
62,770
15.476
15,476
11,416
Sil. Sps. O. A G January...
6,300
1.604
6,300
Sllverton.......... J anuary...
1,114
174
2,139
bo. Haven A East February.
So. Pacific Co.—
474,563
Gal.Har.AS.A January... 474.563 383,458
96,497
Louis’aW est. January...
96,497 129,126
509,540
Morgan’ aL AT. January... 509,540 702,591
15,744
January...
23,168
15,744
N.Y.T. A Mex.
128,106
Tex. AN. Orl.. January...
128,100 158,541
1,241,486
January...
Atlantic sys.6.
1,241,486 1,438,836
Paoiflo system J anuary... 2,383,488 2,148,082 2,383,488
Total of all.. January... 3,624,974 3,586,918 3,624,974
799,098
So. Pao. of Cal January... 799,098 692,931
217,977
So.Pao.of Ariz January... 217,977 187,475
82,062
103,043
So.Pao.ofN.M January... 103,043
153,980
Northern R y .. January... 153,980 141,467
Southern R y ... Sdw kM ar. 346,842 342,484 4,172,663
F ebruary..
26,005
51,783
14,543
J anuary.. .
68,767
68,767
64,158
1,112
1,112
January...
1,397
January...
86,695 104,248
86.695
82,580
84.778
82,580
Lyk. Val. Coal January...
169,275
T ot’lboth Co’e January... 169.275 189,026
Texas A Pacitic. 3d wkM ar. 108,293 122,943 1,451,911
2,882
2,381
5,835
Tex.B.ValAN.W F ebruary..
36,096
46.014
421,320
rnl.&OhioCent. 4th wkMar
229.754
20,087
20,251
Tol. P. A W est.. 3d wkM ar.
37,183
393,692
36,176
fol.S t.L .& K .O . 3d wk Mar.
22,633
24,163
24,163
Ulster A D el— January.. .
union Paoliio—
970,520
937,328
937,328
January...
Dn. Pao. R R -O r.S .L .A U .N January... 386,700 330.4621 386,700
48,247'
48,903
48,903
8t.Jo8.AGd.Is January.

1895.

$

427,084
71,932
749.160
514,468
331,399
7,587
119,660
33,749
75,681
929,724
218,557
34,680
523
109,410
45,639
72,712
14,304
730,703
69,081
25,540
463,797
30,817
279,317
4,044,907
569,904
59,162
12,401
19,062
225,050
2,038,456
196,916
908,397
42,108
797,707
95,958
330,516
473,039
2,386,936
4.395.000
118,000
4.513.000
62,211
625,730
1,099,378
723,636
3,439
331,401
102,465
6,117,398
704,436
358,841
2,134,094
4,567
939,478
2,745,050
3,280
133,480
25,904
124,366
262,576
671.124
9,097,905
201,382
75.957
249.160
3,013,150
3,868,184
6,881,334
679.126
2,191,980
6,537
91,546
275,940
160,118
43,591
479,649
154,801
36,524
54,198
45.929
75,781
376,390
17.930
12,324
288,000
5,934
866,623
1,114,800
170,791
194,509
87,178
319.124
77,289
11,416
1,604
1,021
383,458
129.126
702,591
23,168
158,541
1,438,836
2,148.082
3,586,918
692,931
187,475
82 062
141,467
3,801,636
33,175
64,158
1,397
104,248
84,778
189,026
1,528,798
7,363
394,118
211,810
318,574
22,633
970,520
330,462
148,247

A pril 4, 1896.J

THE CHRONIC Lb

Latent Gross Earnings,

Jan. X to Latest Date.

631

*— -Gross E arn mas.— *-----Net E arnings,— ~
1896,
1895.
1896.
1895.
Roads.
S
$
$
S
K *n. C. Mem. * B .a .F e b .
99,932
72,705
20,015
7,498
»
*
S
I
*
Un. Pae.— Con.
Jan. 1 to Feb 2 si....
215,500
165,416
52,327
28,355
Ran.C.AOm January...
8,972
6,446
8,972
6.4.16
July 1 60 Feb. 2 9 ___
866,855
722,354
192,157
145,185
13,150.
13,062
123,390
117.862
Tot.it.J.A G .1. l:-t * t Mar
575,427
10,0*10
U.Oi 0
Cent. 8 r ...... .u 3-1 wk Mar.
453,460
149,333
118,93-1 Louis v. <fe N asb v .b.F eb. 1.616,570 1,364,940
Jan. 1 to Feb 29 .. . 3,301,107 2.937,042 1,197,482 1,073.351
4eIi.Col.ii P .i January...
25,416
20 601
25,416
20.601
July 1 to Feb. 29___ 14.021,189 13,153,920 5,081.924 5,151,134
t e h .-I .O .W i
41,934
62,338
62,338
Ctrn.Br.ALML, January...
41,934 Mexican Central — Feb.
776,326
703,564
218,467
294,233
W r'droiaL 'r (January... 1 554.1501 1,504.122 1.554 6011 1,504.122
Jan. 1 to Feb. 2 9 .... 1.598,558 1,501,607
537.285
649,654
240,3*2
240,382
238,694
238,694 N Y Out. & W est.a. Feb.
0 . Pae. D .4 G J a n u a ry ...
232,905
228,602
38,296
26,023
Wabaai)....... .. ith wit Mar 305,276 322,244 2,0O5.*4 1 2 ,7 6 .9 5 4
Jan.
1
to
Feb,
29___
505.16
5
505,327
101,193
84.L28
288,577!
38,834
41,S95.
Waco * N orth* iDecember.;
292,174
July 1 to Feb. 2 9 ___ 2,552,391 2,495,484
753,238
704,416
5*9.567
80,240
181.914
163,1*0
W?etJerney. ... February.
689,845
67,237
897,905
199,477
169,611
72, 50
39.309
137,358 aSorfolk «fe West’11 .a . Feb
W.V.Cen.A Fitts February..;
Jan. 1 to Feo. 2 9 ___ 1.873,487 1,512.044
25.*20
380,962
433,408
127,485
368 143
■il 016
Went Va. A Pitts (December.
40,850
51,357
51.857
Western o t Mm . ;J am iary...
40,830 Pennsylvania—
92,354 1,298,187, 1,248,453
98,737
W «t. Maryland. f December.
Lines directly operated548,49 >
56,200
53,4*0
593,116
E m t o f Pitts b’ g . , Feb. 4,646,031 4,419,634 1,123,101 1,148,901
WeetJT. y . * P a :3d wit Mar.
291,513
31,820
3\ 005
293.46*
Wheel. A L. Erie U hwkM ar
Jan. 1 to Feb. 2 9 .. 9,639.905 9.097,905 2,166,798 2,130,2 *8
804.146
79,927
80.356
727,017
Wtieohsla (V at. 3d wk Mar.
West o f Pittsb’*?..Feb.
In o . 112,000
Dec.
42,200
17.772
4.896'
10. >-01
8.693
g*ight*y.,jtTen February.
Jan. 1 to Feb. 2 9 ..
I n c . 337,100
Dec.
36,500
* Figure# given do n ot Include Oregon Ry. 4c S ay.. Du. Pao. Denver A
A ll lines o p e ra te d S uit, Denver Leadvllle A Gunuisoti, M ontana U rlon and Leavenworth
Easfi o f PittsbV.-Feb.
In e. 265,300
Dec.
41,000
Topeka A South western, a These llgures Include reeulw onl eased liner,
Jan. 1 to Feb 2 9 ..
I n c . 649,900
Dec.
41,700
0 Includes earnings from ferries, etc., not given separately, i M exi­
West o f Pittsb’g..Feb.
In o. 145,400
Dec.
29,400
can oarrenov. c Includes on ly half o f dues In which u q ! cd Pacino haa
Jan. 1 to Feb. 2 9 ..
In
c
.
375,000
Deo.
86,700
a half tnfareet
34,526
26,018
15,876
8,862
d Inolu.it** operations o f the Chic. Burlington it N rthern in both Rio Grande South, b . Feb.
Jan. X to Feb. 2 9 ___
70,897
31,336
20,111
55,838
years.
July
1
to
Feb.
2
9
....
340,471
275,161
183,643
138,486
5 Cover* results for lines directly operated east o f Pittsburg.
Rio Grande West. b .. Feb.
151,010
35,812
134,837
46,936
Jan, 1 to Feb. 29 ..
311,270
280,590
100,402
74,807
L a t e s t fcfross D a r n in g s b f W e e k s .— T h e la t e s t w e e k ly ea rn
July 1 to Feb. 2 9 ..., 1,660,292 1,425,880
675,011
470,233
n ga in t h e f o r e g o i n g a r e s e p a r a te ly g a m m e d u p a s fo llo w s'.
Sag. Valley <fe St. L. .Feb.
6,404
6,051
1,056
912
Jan. 1 to Feb. 2 9 ..—
12,993
2,194
12,324
1,331
For the third week of March our final statement covers
Staten L Rap.*Xr. b .. Jan,
68,767
64,159
14,777
8,463
19 roads, and shows 4-04 per cent gain in the aggregate.
Ju ly 1 to Jan. 31 —— 742,345
236,194
673,227
289,428
We8t.N.Y.*fcPenn. b..Feb,
191,721
39,380
208,700
*32,279
Increase,
3d week o f Marth.
1895.
Decrease.
1896.
65,874
Jan, 1 to Feb 2 9 ....
390,899
423,916
74,967
July 1 to Feb. 2 9 .... 2,211,414 2,215,465
*588,710
707,484
$
*
*
*
413,945
132,915
P refT y reported (56 rMaj 5,5 .11.451 5,222,421
a Net earning* here given are after deducting taxes
11.070
11,716
Atlantic A Danvil e ___
. . . e a ..
40
h S et earning* here given are before deducting t-axe>.
52,-501
17,379
Chicago A Grand T ran*.
ft M s o
• Included In expenses for February. 1896, la $6,648, and from July 1
___
T
T
_
1,851
Ohio, Peoria St St. L oan.
2 - , 173
20.522
to February 29, l»9t>, $113,845,which In form er years would have been
33.95*
2*.185
. . . . ...
5,474 charged to betterments.
Chicago A W * « Michigan
1,171
11.064
Cleve. Ckaum A Soui&’ cn
2 19 ,004;
'dev . eta . Chic. A St. 1...
254,167
34,593
Interest Charges and Surplu s.—The follow ing roads, in
13. 02:
....
15,123
2,021
Cot. 8»ndu»k V A Hook'g
2.36 V
1,90*
■161
D ei Moines ,i Kan, City.
addition to their gross and net earnings given in the foregoing,
19,093
10.207
2.706
Det. Sir. Hav. A Mllw ..
21.373
Detroit Laun'e A North'n
18,393!
2,980 also report charges for interest, &c., with the surplus or deficit
_____
33,614
1,947
Duluth 8o, Shore A At)
35.601;
above or below those charges.
. . . . ...
2,13 i
175
Evaasv. A Richm ond.....
1,9563
- Inter’ t, rentals, <fe,—. •- But. o f Net Earn'
r. T. ___
M .tS u
2,958
Flint v* Fere Martiuotts
56,108
1896.
1895.
1896
181-5.
72.031
...a
Kan. City Ft. 8. A Mem
72,31*1
319
Roads.
*
*
S
17,47*
734
Kan. City Mem. A Blnn.
18,214
872.954
41.832 df.236,559
88U.000
Ohio. Burl.A Qillnoy.. Feb.
1.443
11.TOO
9.866
Kan. City plttab. A Gulf
1,780,000 1,745,909 def.44,842 df.397,047
Jan. 1 to Feb. 2 9 —
6,401
7.S32!
1,431
Keokuk A Western..........
17,3 »4
3.109
M*tnpfcU k C&*rl«4io*a..
33,144 d ef.1 7,776 def.26,639
%o&m\
33,773
Ohio. A West M ioh...F eb.
57.924!
70,472
___
12,048
M exican Rahway
67.S-16
86,289 def.43,358 def.57,388
Jan. I to Feb. 2 9 ___
............
30
20, ICO
20.150
6t.
Alton A T. H,
641
1,471
231,890
■234,279
Ole v. Cln. Oh. & St. L .. Feb.
6,186
2,812
Sherman S h rew . A So .
3,371'
1,889,373
356,399
1,990,120
544,357
July 1 to Feb. 2 9 ___
20,087
20,251!
m i
Toledo Peoria A Weat’ 0 .
1,129
36,802
84
36,802
Peona A E astern.. Feb.
2,8. 0
56,200
W est M* Y. St p 0.Bm yl?
53,400
45,375 d e t 1,259
294,414
;
291.114
July 1 to Feb. 2 ) . . .
475
445.376
201.014 Denver A Rio Gr’ds. Feb.
193,539 def.S, 101
202.370
Total 179 road*)...........
0,301,534 6,057,172
415,114
695,345
1,602,917
1,857,850
July 1 to Feb. 2 9 ....
214,362
. . . . a.
Net MKHWM6 (4-04 p. O.I..
def.19,091
det.21,219
30,343
30,251
Det, Lana. A N o r... .Feb.
60,169 def.4.5,387 def.42,436
69,897
Jan. 1 to Feb, 2 9 ...,
Net Earnings M onthly to Latest Dates.—The table fo llo w ­
109,422 def.8,496 def.14,810
113,016
Kan. 0. Ft. 8. A M.. .Feb.
79,320
in g shows the net earnings o f S team railroads reported this
59,816
888,611
920,145
July 1 to Feb. 2 9 ....
6,148 def.3,731
11,229
13,887
week. A full detailed statement, including all roads fr im Kan. O. atom. A Btr . Feb.
55,354
81,220
89,831
110,937
July 1 to Fe,b. 2 9 ___
w hich monthly returns can be obtained is given o a c e a month
14,191
1,053 def.5,329
14,223
Rio Grande South.
Feb.
def.8,272
2,766
28,570
28,383
in th ese c o lu m n * , a n d the latest statement o f this kind w ill
Jan. 1 to Feb. 2 9 ....
69,736
........
113,907
July 1 to Feb. 2 9 ___
b e found in the C h r o n i c l e of March 21, 1896. The next will
3.557 def/2,501 def.2,645
3,557
Sag. Valley A St. L .Feb.
def.4,
920
def.5,283
7,114
7,114
appear in the issue o f April 18, 1896.
Jan. 1 to Feb. 2 9 ----- o r o o n a m in g ).—^
-S e t E a m ln g s.1896.
1895.
1896.
1395.
STREET RAI LWAY S AND TRACTION COMPANIES
fin.),; $.
*
8
8
$
373,247
618,682
AtohJVnTop A S .F e .F i . 2.208,952 2.068,703
The follow ing table shows the gross earnings for the latest
857.532
4,303,645 1,330,318
Jen . I to Fvb, 29.
y r a iiM
July X to Feb. 28
20,102,078 19,3*3,-851 1,325.833 4,774,020 period of all s t r e e t railways from which we are able to obtain
208,821 weekly or monthly returns, The arrangement o f the table is
Canadian Pact lie.au,p«b.. 1,315,256
992,032
333,732
553,311
829,082
Jen. 1 to Feb. 29. . 2,800.013 2,16.4,068
tne same as that for the steam roads—that is, the first tw o
824
1,114
3.367
1,901
Char. Cion. A Sutton.t
8,258
4,205
3,578
1.982 columns of figures give the gross earnings for the latest
Jan. 1 to Feb. 2 *.
104,002
.
781,509
616,9*8
191,984
C oe-. -.V Ohio a . . . .
week or month, and the last tw o columns the earnings for
414,129
466,595
Jan. 1 to Feb. 2 9 ...,. 1,721.633 1,128,052
2 ,1 1 5 .103 the calendar year from January 1 to and including such latest
0,926.100 6,130,220
Ju lv 1 to Feb. 29
921,832
636,395 week or m onth.
Ohio. Burl. A Quin b . Pel. , 2,168,418 2,100,000
Jan. X to Feb. 2 9 ... . 5.162,021 4,365,410 1,715,158 1,3 43,882
STREET RAILW AYS AND TRACTION COMPANIES.
595,593
739,701
Cble. M. A 8t. P a . . Pel . 2,305,680 1.927.522
Jan. 1 to Latest Sale,
Jan. I to Feb. 29 . . .. 4,635,302 3,821.900 1,527,41 l 1,235,052
Latest Gross Earnings.
July 1 to Feb. 29 .. .22,703,024 18,016,991 9,430,009 6,569,1X5
G ross
1895.
E
arrings
.
1896.
6,505
'.Week or Mo 1896. | 1895.
15,907
116,027
121.368
Ohio. A W. M ich .., .Fet .
8,921
236,778
230,030
21,188
Jan. X to Feb. 29, . .
$
234,920
235,361
970,931
970,748
Ctov.Ctn, C A 8 C I, a . Fed
27,563
32,422
409.117 Akron St. Ry.A III. Co. F ebruary., 15.755 13.483
477.466
Jan. I to Feb. 2 9 ... . 2,073,008 2,02-4,545
3,257
3,564
3,257
3,584
July * so Feb. 29 .» . 9,4.55,503 9,053,304 2,434,777 2,845,772 Amsterdam 3t. R y ... J a n u a ry ... 27,130 20,553
20,553
27,130
Atlanta
Con.
81:.
R
y
..
January...
37,931 Baltimore T raction... 2d wk Feb. 22.270 19,027 132,535 115,772
30,8*05
139.490
127,721
Peoria A K
,a .Feb
71.498 Bath St. Ry. (N. Y .).. February..
2,132
2,678
2i.f4*2'80
260,rt?8
78,885
Jan. 1 to Feb, 29 .. .
1,022
1,257
293.155 Bay
11,343
12,608
33 U.780
July X to Feb. 2 9 ... . 1,326,448 1,133,415
5,259
5,681
Cities C on su l.... February..
15,08*
19,150
7,032
9,383
6,718
12.080
Binghamton Bt. R y ... February..
Cot. Saudaa.A Hook..Pel ,
62,080
52,438
34,838
42,974
23,133
22,394
122,870
Bridgeport T raction. February.. 21,078 18,083
122,051
Jan. 1 to Feb. 2 9 ..,..
32,830
39,627
186,598
Brockton Con. St, Ry. February.. 19,970 15,683
.
607,887
626,019
985,908
300,610
3 99.014 Brooklyn Heights . . . M arch....... 335,805
196,269
493,152
514.483
46,138
97,343
414,884 Br’ klyo Queen* A Sub February.. 47,633 22,702
116.071
Jan. X to Feb. 29. . 1.084.049 1,024,607
Ju ly 1 So Feb. 29, . 5.168,318 1,732,207 2,252,995 2,018,031 Brooklyn Traction— !
65.729
69,083 29,599 141,620
Atlantic
A
v
e
..........
F
ebruary..
11,180
9,505
9.475
9,114
80,70S
4,486
74,552
Det. Lans, A N or.a ..P i
4,491
Brooklyn B. A W. E. February..
75,23*
17,733
14,510
163,245
Jar.. 1 to Feb. 2 9 ,.,:..
151,511
T ota l........ .
February.. 73,574 34,085 151,101 1,536,284
1,714,163
132,872
30,394 Buttalo R y ....... ..........'Decem ber. 16 *,749
36.776
102,168
84,741
Elgin Juliet A K a Pen.,
26,467
28,973
57,179 Central Trae.IPittsb.) February.. 14,156 12.483
105,433
73.398
Jan. I to Feb. 2 9 ___.
209.510
20,097
24,767
8,704
12.270
219,090 Cheater T raction....... February..
292.726
700,902
842,949
July l to Feb, 29—
125,986 123,060 i
59,706
60,115
Chic.
A
8o.
Side
R.T..
February..
317,329
391,855
Erie,........................Feb . 2,122,070 1,970,215
70,689
89,402
37,254
42,702
688,950 Cln, N ew port A C o v .. February..
885,972
Jan. 1 to Feb. 29 ..... 4.438,191 4,064,335
2,792
1,344
February..
139,335
94,812 City Elec. (Rome.Ga.)
104,520
380,404
333,050
Kan. C. f t . A A M .a. Feb
City R y .... F ebru ary - 78.987 66,659 180,889
203.341 Cleveland
221,051
604,800
118,977 95,631 244,385 199,527
768,534
Jan. i to Feb, 2 9 .....
Cleveland
B
ie
c
ln
o
...
F
ebruary..
967,031
979,991
. 3,170,630 3,108,828
IS >Ai>»

Week or Ho

1996.

1895.

1896.

1

1895.

THE CHRONICLE.

632
G r o ss
E a r n in g s .

fVOL. LXII,

Latest Earnings Reported. Jan. 1 to Latest Date'.
Week or Mo' 1896.

Columbus RR. (G a.).. December.
Columbus 8t. Ry (O.) 2il wk Mar.
Coney Island & B’ lyn. February..
Denver Con. Tram w. February..
D etroit R y ................... 'Jan uary...
January...
Duluth St. Ry. .......
Erie Elec. Motor C o.. F ebruary..
1 lushing & College Pt. February..
Galveston City R y ... February..
H estonville M. <fe F.—
December.
Arch Street-----—
Race Street............ D ecem ber.
T ota l...................... D ecem ber.
H oosick R y ................. February..
Houston City St. R y .. D ecem ber.
Interstate Consol, oi
North A ttle b o ro ... F ebruary..
L ate St.. Kiev. (Ohio.) January...
Lehigh T raction......... February..
Lock Haven Traction February..
London St Ry. (Can,). February..
Lorain St. R y .............. February..
Lowell Law. & H a v .. F ebruary..
Lynn <fc Boston.......... 3d wk Mar.
Metrop. (Kansas City) 3d wkM ar.
M ontgomery St. R y.. February..
Montreal Street R y ... February..
Nashville St. R y ........ D ecem ber.
Newburg E lectric— November.
New England St.—
W inchester A v e — F ebruary..
Plym ’ th & Kingston February..
T o ta l...................... 3d wk Mar.
NewHaven&Centrev. January...
New Haven St. R y . .. February..
New London St. R y .. February..
New Orleans Traction F ebruary..
N. Y. & H arlem .......... December.
Northam pton St.-Ry.
(M a ss .)..................... February..
Ogdensburg St. R y .. January...
Paterson R y ............... F ebruary..
Pitts. Frontenao &
Sub.Elec. Rv.(Kan.) February..
Portsm outh St. R y ... Decem ber.
P o’keepsie & W app.F. January...
Roanoke Street.......... February..
Rochester R y .............. February..
Savannah E le c tr ic... F ebruary..
Schuylkill Traction... February..
Schuylkill Yal. Trao.. January...
Scranton T raction— February..
Second Ave. (Pittsb.) F ebruary..
Sioux City T raction.. February..
Steinway Ry............... February..
Streator R ailw ay....... F ebruary..
Syracuse C onsol........ February..
Syracuse E’st-SideRy. February..
Syracuse St. R R ......... F ebruary..
Terre Haute E l'o. Ry 'Jan uary...
Third A ve. (N. Y.) .. . |January...
T oron to R y ................ February..
Twin City Rap. Tran. IFebruary..
Union (N. B edford)... 'February..
Union Ry. (Saginaw) D ecem ber.
United Tra t. (P rov ) F ebruary..
Unit. Trac. (Reading) February..
U tica Belt Line.......... [December.
Wakefield & ston e— February..
W aterbury T raction.. IFebruary..
W heeling R ailw ay ... 'February..
Wilkesb. <feWy. Valley February..
W ilmington S tr e e t... Decem ber.
Worcester Consol....... February..

1895.

3,121
11,656
19,313
51,901
35,134
15.840
10,571
1,173
13,058

2,346
10,307
24.413
48,001

49,829
10,265
60,094
454
17,776

29,492
2,172
31,664

8,430
52,855
9,113
1,227
5,297
4,496
2d,132

15,703
8,590
12,449

18,489
44,679

30,061
3,462
87,394
27,740
5,8X8

3.245
4,819
20,475
19,720
28,156
2,825
66,923
2 6 ,1 /6
3,594

13,929
1,898
3,847
4,620
12,660
2,415
115,325

12,034
1,482
3,586
2,485
10,347
2,280
87,511

6,439
1.059
22,142

16,125

21,868

3,742

1,314
2,595
5,445
2,569
1,783
67,987 56.289
5,441
3,470
5,118
7,261
2.008
3,585
24,429 16,446
30,523 15,361
5,641
6,007
19,190 13,016
888
991
10,520 13,708
2,689
9,842
22,248
7,909
12,819
198,752 185,580
73,468 62,460
145,061 134,896
14,544 10,72b
9,827
125,07.* 102,555
12,014
8,899
2,993
2,404
19,2-52 16,588
12,lh0
8,970
36,334 22,136
2,900
3,092
34,163 25 947

1896.
$
44,271
120,451'
40,801
106.441
35,131
15 840
21,406
2,368
26,317

511,193
1,0J9
16,192
52,855
18,716
2,513
10,382
9 ,0 -6
52,8-57
239,791
342,693
7,150
182,451

R u l r o a d s and M iscbl . Go’s.
Volume 62 Page.
American District Telegraph....... 230
American Soda Fountain ............ 275
American Straw Board ............... 3 >7
27,000 American 8ugar Refining............. 587
107,172 American Tobacco. ..................... 317
Chesapeake & Atlantic. 274
51,242 Baltimore
Bangor & Aroostook ................. 454
103,69 7 Brooklyn Wharf & Warehouse__ 517
Canadian Pacific. ... .............. 316, 501
15,703 Central UR. of New Jersey ......... 300
18,192 Central Vermont.......................... 315
Chicago k Alton .......................... 359
Chicago St. Paul Min. & O............ 410
27,010 Choctaw Oklahoma & Gulf............ 183
Cincinnati Hamilton & Dayton.... 182
Cleveland & Pittsburg................... 546
Colorado Midland.......................... 182
303,894 Columbus Hock. Val. & Toledo ... 182
Commercial Cable Co.................... 412
Consolidation Coal of Md ............ 317
Cumberland Valley...............
646
Delaware it Hudson Canal — 228, 410
Delaware Lackawanna & Western 228
Diamond
Match.............................
317
44,679
Edison Elect. Ilium., Brooklyn.184, 229
Edison Elec. Ilium, o f N. Y... 184, 361
Erie Telegraph & Telephone....... 275
7 064 Huntingdon & Broad Top............ 316
9,524 Illinois Steel ................................ 316
44,015 Lake Erie & Western.................... 300
2 2 1 ,1 1 2 Lehigh Coal & Navigation........... 362
Evansville & St. Louis.. 499
309,405 Louisville
Coal Co.......................... 455
6,330 Maryland
Mexican Central............................ 316
140,833
1895.

and M iscel . Co ’ s ( Don. )
Volume 62—
P ag e.
Mexican National..................586, 591
Missouri Pacific.............................. 497
National Lead
.......................... 302
National Linseed Oil ................ 275
N. Y. & New Jersey Telephone.... 546
Northern Central ......................... 361
Northern Pacific............................ 545
1*rogon Railway & Navigation Co. 229
Pennsylvania R R .....................
453
Pnilade'phia & Erie ..................... 316
Philadelphia & Reading............... 360
Philadelphia VVdmington & Balt.. 229
Pittsburg & W estern................... 454
Quincy Mining Co......................... 362
St.Louis Merchants’ Bridge Term’l 302
St. Louis Vandalia & T. H ............ 273
South Carolina .t Georgia..........
274
Southern N. E. Telephone............ 318
Street’s Western Stable Car Line.. 275
Summit Branch & Lykens Valley.. 500
Tamarack Mining Co........ ........... 687
Terminal RR. Ass’n of St. Louis... 499
Texas Central................................ 546
Texas & Pacific..................
544
Trenton Potteries ...................... 317
Union Pacific Denver & Gulf....... 545
United States Leather
............ 411

R ail r o a d

St r e e t R a i l w a y s .

Louisville Railway .....................
North Hudson Cjunty ................
Sacramento Electric Pow. & Lgt..
Twin City Rapid Transit......... ....

411
411
411
500

Canadian Pacific Railway.
( Report fo r the year ending December 31, 1895. J
The report of President Van Horne o f this company will be
found at length on another page, with the income account,
detailed statement of charges, balance sheet, etc , etc. Com­
ments on the report will be given in our editorial columns
next week.
The comparative statement of operations, earnings, etc., for
8,077 four years have been compiled fo r the C h r o n i c l e as follows
the comparative balance sheets having Deen in our issue of
35,396 March 14, page 501.

25,741
28,292
3,934
3,409
39,866
43,456
2,485
4,620
22,970
27,309
5,101
4,7<>8
221,808 180,169
1,015,076 1,106,017
13,051
1,059
45,478
2,711
36,752
5,445
5,191
136,9 j 9
15,082
3,585
49,914
62,74
12,498
39,628
2,120
21,643
5,346
44,426
12,819
198,752
147,845
303,974
29,129
127,61
256,654
24,265
161,836
6,221

40,738
23,656
75,192
70,002

OPERATIONS AND FISCAL RESULTS.

4,214
119,288
10,943
2,008
35,945
31,537
12,247
28,480
1,827
29,377
21,073
7,909
185,580
132,997
286,92 7
22,933
219,404
19,454
149,104
4,937
33,830
18,642
50,582

1895.
1894.
1893.
1892.
Miles Deo. 311
6,444
6,344
6,327
6,015
Operations—
Pass, c a r d No.
2,983,793
3,009,015
3,311,247
3,258,789
Pass, m ileage. 260,317,256 260,804,119 331,30 7,590 329,833,647
E’ tep.pas.p m.
1 8 0 cts.
1-85 cts.
1-69 ots.
1-69 cts.
Fr’g’ t(t'ns) e *r.
4,274,667
3,891,804
4,2 26,959
4,230,676
Fr’K’ t(t’ iis) m’ gl490 ,639 ,847 1313,948,440 1453,367,263 1582,554.3 52
B ’te p.ton p.m.
0'80 cts.
0'87 cts.
0-87 cts.
0 84 cts
E arnings—
8
$
$
$
Passenger........
4,683,138
4,841,412
5,656,295
5,556,316
Freight............ 11,877,852
11,445,378
12,6 3,075
13,330,540
Mail, exp., etc.
2,380,047
2,466,377
2,633,037
2,522,495
T o ual earn’gs
Expenses—
M’t.of w ay,etc.
Motive power.
Maint. o f c irs..
Transportat’n .
Miscellaneous .

13,94 L,037

18,752,167

20,9 j 2,317

21,469,351

2,659,734
3,614,1 9
710,097
2,884,191
1,591,054

2,972,024
3,68 2,487
863,403
3,016,505
1,789,438

2,8 08,677
4,310.439
831,196
3,427,512
3,837,027

2,570.255
4,298,5-19
956,»88
3,324,758
1,83s.414

Total e spens.
Net earnings..
P.c.op.ex.to ea.

11,160,085
7,480,952
6 0 -5 )

12,328,859
6.423,308
65-75

13,220,901
7,741,416
6307

12,989,004
8,421,347
60-67

Net earnings..
Int.on d ep le te .

1895.
$
7,480.952
552,912

1893.
$
7,741.416
209,863

1892.
$
8 ,4 20,3 47
203,603

INCOME ACCOUNT.

56*040

1894.
$
6,423,303
333,826

Street Railway Net Earnings.—The following table gives
the returns of S t r e e t railway gross and net earnings received
T o t a l .........
8.033,861
6,157,134
7,95 L,279
8,623,950
6,659,478
this week. In reporting these net earnings for the street rail­ Fixed charges.
6,589,379
5,338,597
5,102,018
694,487
ways, we adopt the same plan as that for the steam roads— Contingent int.
1,881,960
2,275,000
1,300,000
that is, we print each week all the returns received that D iv id en d s....... *1,231,960
week, but once a month (on the third or the fourth Satur­
T ota l..........
7,8 >1,438
9,165,826
7,613,597
6,402,018
day) we bring together all the roads furnishing returns, and
Balance___ sur. 142,426 def.2,403,692 sur.337,632 sur.2,221,932
the latest statement of this kind will be found in the
' 4 p . o o n p r e f. stock and lta p. c. on common.
C h r o n i c l e of March 21, 1896. The next will appear in the
t On which earnings and operations here given are based.
issue of April 18, 1896,
Tennessee Coal, Iron & Railroad Co.
- OrossE arnm gs.-— ,,-----Net Earnings.
1896.
1895.
1896.
1895.
(
Report
for the fiscal year ending December 31, 1895. J
Roads.
$
$
$
$
Akron 6t.Ry.tfcIll.Co.Feb.
President N. Baxter says in part :
15,755
13,483
5,295
5,958
Jan. 1 to Feb. 2 9 ....
32,422
27,563
13,76 L
12,851
Change o f Fiscal Year.—The end of our fiscal year having
Atlanta Cons. St. Ry.Jan.
27,130
20.553
10,170
7,437 been changed from Jan..31 to December 31, this report em­
Clnn. Newp. & Cov . Feb.
42.702
37,254
8,885
2,961 braces a period of only eleven months.
Jan. 1 to Feb. 2 9 - ...
89,402
76,689
21,003
11,132
General Conditions —About the middle of April, 1895, the
Lorain (0.) Street R y.Feb.
4,496
4,819
1,273
1,801 lowest prices ever obtained were realized. Soon after, the
Jan. 1 to Feb. 2 9 ___
9,066
9,524
1,357
1,838
market showed marked signs of improvement. Successive
Savannah Elec. R y ..F eb .
5,441
3,470
585 def. 1,431
advances in prices were made between April 18 and Aug. 30,
Interest Charges and Surplus.—The following S t r e e t aggregating $3 75 p“r ton, bringing the price of grey forge
railways in addition to their gross and net earnings given in iron up to 89 75. While these prices were maintained during
the foregoing also report charges for interest, &c., with the the months of September, October, November and December,
relatively but little iron was marketed. T> e result was that
surplus or deficit above or below those charges.
by the end of the year many new stacks had gone in blast,
-I n te r ’t, rentals, <£•«.— -B a t. o f Net E a rn s.and iron had accumulated upon the yards of all the furnace
189S.
1895.
1896.
1895.
Roads.
companies. The attitude of Congress and the unfortunate
Lorain Street R y ___Feb.
1,000
273
Venezuelan complication produced distrust, so that consump­
Jan. 1 to Feb. 2 9 ___
2,000
def.643
tion tell oil very materially, and we were again confronted
with a large excess of production. Since the success of the
popular loan there are evidences of returning confidence, and
A N N U A L R EPO R TS.
the consumption is again oa the increase. The lower prices
that are being obtained have materially reduced production,
Annual Reports.—The following is an index to all annual and I think it is a matter of but short time when the con­
reports of steam railroads, street railways and miscellaneous sumptive demand will be equal to or probably in excess of
companies which have been published in the C h r o n i c l e since the present production.
the last editions of the I n v e s t o r s ’ a n d S t r e e t R a i l w a y S u p ­
Increase o f Capacity.—The physical condition of the prop­
plem en ts.
erty has been greatly improved during the past fiscal year,
This index does not include reports in to-day’s C h r o n i c l e . the output of the furnaces and mines largely increased, and

THE CHRONICLE.

APaiL 4, 1396,]

the position o f the com pany greatly strengthened as tegirda
its ability to supply its wsnts with raw material in any quan­
tity that it may reasonably be called upo i to do. The output
both of pig b o a and coal is largely in excess o f that of any
previous year, and the earnings snow a ccrr-spondingly
gratil'viog increase as compared with 1S94. I feel it will not oe
necessary the com ing year as it has been in all the preceding
years to make any large expenditure on capital account.
Our capacity for producing coal is easily 13,00* tons d ib y
During the past fiscal year w e produced in eleven months
3,416,51 8 tons.
Basic Iron and Steel.—Our com oany is to-day the only
large producer o f pig iron in the United S ates that sells its
enure prouuet in the open rnaiket as pig iron. A ll the other
large producers with the except! >b of the Tnomas Iron Com ­
pany, Pennsylvania, convert a large perc n fig • o f their pig
iron into steel, and s* 11 the finished product. In view o f the
rapidly ch a rgin g condiii i d s in this respect, I gave ingt-uetioi s
last August ro put ihe Alice Furnace on ba-ie pig. Our suc­
cess in the roan ufacture o f the metal was remarkable. We
found practically no difficulty in producing au ideal basic
metal with our own ores, cuke and limestone, without any
material increase in the cost of tnanufae ur •. T-is iron has
been sold and used by all the large steel makers in this coun­
try. and with rot st gratifying results.
W ith a properly equipped steel plant at Birmingham our
com pany would in a very short time occupy toe same relative
position in the Sou h that the Carnegie Go d an in Pit sourg
and the Illinois S o el Or. in Chicago. I fe-d that it is my
duty to strongly recommend that some steps be taken at once
looking to the placing o f our com pany in a po-uii in to share
a parti f tl ; enormous expansion in the basic steel trade,
Trea-urer J. B >wron says :
Profit and Lorn,— After writing off $739,114 by way of de­
preciation, and after charging $306,770 acera-d interest on
bonds winch is not yet doe, and ais ■bad deb s $21,289, and
lo?s on the sale o f treasury bonds $33,341. there remains upon
adding the year's surplus a balance Of undivided profits to be
carrit d forward of $543,063.
Capital JErpenditurts —'The capital outlay for the year was:
Col it*'i ies, cone ovens, etc , $85,641; Mast furnaces and plant,
$3,019; m d roid s ami equipment, $67,687: dw , ilu<gs. store­
houses, etc,, #9,040; ore mines and plant. $63.l$7: prisons and
equipment, $11 ; live rtoik , $2,130 ; total, $334,381.
Floating Debt.—During the year a considerable vo'um e of
floating (lent n k en over w ith the purchase o f the DtBardeleben Company to i!92 w m extinguished by the sale <f uie
treasury bond# o f that company which were acquired to­
gether with the debt, Notwithstanding this, the fl -ating debt
[including tills payable, accrued interest, open acc tiros, re­
serve fund, i to.,] shows an increase during the year amount­
ing to $305,994, partly due to the enlarged volume o f bndorss
being conducted br ttn-com pany at the close o f 1893. partly
to the pur h. - •o f additional property and equipm ent for the
pnrpos- a of s«’ ch increased business, and partly to the purchase
o f bonds for the sinking funds. The wore irig capital or sur­
plus of free as-e’ s over unfunded liabilities deer- a*ed $316,-

624. l*e-ng now $565,090 agiinst $641,715 Jan 81, 183>.
Statistic'. —-The follow ing statistics have been prepared for
the C hwomcle .
INCOME AOCOCST.

1895 {U mem )
$
T ot. net profits,
99.5,78 l
/**rf-.rfIeterc-st
587,305
43,521
M:tse»d««SO:B* .
Dividend*....... .
T ota l.

Bsiasce..

1894-5.
$
561,934

1393-i.
8
635,031

1892-3.
8
923,551

631,518
or. 1,205

tm ,0 7 4
*3 4,123
40,000

547,393

630,311
loss.68,327

625,826
t snr.369,96S

80.0 UO

633, ta2
779,203
loss.94,172 »nr.29Q,069

f TMs represents loss on *V e o f bonds $83,850 less profit o n bonds
iKsukht for sinking fun-t $1,721.
t The total undivided surplus Dee, 3 1 ,1 8 9 3 , was $343,065,

OOMMIBor or

FLOATING DEBT AND AVAILABLE ASSETS.

LiabiUHet—

Du. 31,’ 95. Jan. 3 1,'95. Dus, or Dec.
S

4

6

A teraad Interest.................... 5106,770
Sun d ry creditor,* on open a c c 'n t.. 673,028
Re.ser ie fund*................
34.e92
Orders for m erciism lise— . — . .
15,30-4

1,212.449
113,252
581.103
85,292
8,668

1.21.017
I 01,518

.2,172,330

1,967.786

l, 201,091

2,242
Stock* and bonds.......... .
808.478
Salable part o f inven tory............
979.117
Sundry debtor* on open aeoount
241.166
Cash » nd b111» reo- tvablo
...
.
45,000
Treasury b o n d s ...............................
7
70.56 ,5 .00

9,842
743.501
754,301
113,431

D. 7,600
I. 64,074
I. 224,343
I. 131,623
I, 45,000
D. 471,0 *0

.2,155,474
Snrp. o f quick assets Tan. 31, '95 ,

2,167,033
199,843

BU S t nyat.Se ...............................1,337,086

Quick nt.e!»—

Surplns of ilabllltl*-* over quick

S o w arncti —
Real estate .................. ........ .......
Convertible part o f In v e n to ry ....

547,500

1. 513,925

r. 13,399
I. 8,635

D. 12,159
D. 217,25*

17,106
17,805
60,071

14*395
30,647

L 3,410
I. 29,420

77,979
T o t a l .......................... ................
Surplus quick and slow asset.
60,473
o v e r do itin g d e b t ............. ........"
Ultimate osmts—
CoOsiunsWO tmrt nf inven tory.. 214,999

45,042

1. 32,837

244.890

D. 184,417

230,272

D. 35,274

289,619

889,333

D. 90,934

. 504,618
. 565,090

836,325
881,715

X). 132,208
£f, 316,625

63$
GENERAL BALANCE 8HEET.
Uec.31,’ 95. /« n .3 t ,’ a5. Jan.sx,-91. Tan.31,'93.

Assets—

§

$

$

$

L tud accoun t.............
20,706,013 20,764,580 20,766,621 20, 47,309
fVrm m eet loveitm ents,
9,298.748 9 ,i 9 l ,U 8 9 ,3 0 2 ,2 :7 ><000,708
Siocks and boons ...........
2 :8 ,5 4 2
t707,31i
7 i 3 , - l 0 2 ,2 :3 ,8 4 0
R. estate (lem . Invest'is).
17,80-5
14,395
14,395
14,395
Siks.of e I.l.ore, tron.JEO.
1,033,050 1,024,133
933,.*78 1,230,235
Sunury debtors o n o o e a
aco.u uts ....................
979,147
751,302 1,022,491 1,125,572
C i.-li ami bitlsreoeivabla
-2 1 1 .1 0 1 112 ,4 3 3
153,4 10
152,274
sust.e .se a o c o u u ts........
2 3 9 ,8 .9
350,651
2 0 i,i9 6
1 3 0,95 4
Total assets................. 3 2 ,» 4 -,6 6 l 33,2S5,5d8 33,197,431 3 4 ,515 ,2i7
L iabilities —

Stock, com m on................ 20.000,000 20,000,000 20,100,000 2 V>10,000
Si ock. preferred .. —
l.O to.ooo 1,0 0,0.10 1,001,010 l,0 io,0 )0
Bonds,teas st. king funds 9,132.716 19,385,301 9,151,337 9,198,124
.........
............
. . __
194 748
Cer s. o f indebtedness...
Bills payable .........
1,237,0*6 l,2 .2 ,ert9
907.500 1, .40 ,4 -2
lo t. auc-med, n<itdup,,t0,
208,770
142.253
141,09 1
122,141
I I 16 01 Oiieu a eo'ia n ts...
,623,30) 456,814
6 3 5 ,0 2
9 45,063
Due to em p iov ees..........
1 -1,71 9
125,48*
126 <58
173,Ot,S
Ri-S-rve m uds ................
386*2
25,292
1 ,0 ,4
12,530
Uisoufasoranl# ....... .
l> ,3 0 t
0,06 )
4 5
405
Front and loss . . . . . .........
543,065
902,512 1,229,257 1,322,429
Total liabilities..........32,848, >161 33,255,599 33,197,431 34,515,287
1 Includes: Tennessee Coal, Iron 1-;Rft. stock, <S150,900; Debardeleben
Coal & Iron bonds, $1,5*0; Catuba, Dual .Mining bonds, $,'0,000;
Olliers, -2 .21 S.
; Bonds. ¥ I,i32.716, a g -ia st $9,814,610 Jan. 31. 1315; bonds, cash
and soB u.iJoain sin k in g funds, $376,333, against, 35 j 3,2 j j .
, A m e r ic a n B e l l T e l e p h o n e .
( R e p o r t f o r t h e y e a r e n d in g D ec. S I, 1 8 9 5 .)
T h e a n n u <1 r e ijo r t is n o t r e i d y f o r d is tr ib u tio n , b u t a c l o r d ­
in g to th e B o s to n T r a n s c r ip t it c o n t a in s in i a rt th e fo lio v i n g :
I n c r e a s e d B u s in e s s .— 1’ ,e last y a r h i s b ■m o n e o f u n p r e c ­
e d en ted g r o w t h in th e o u t p u t o f ir s t r u m e n w , n t i e D u m ­
b e r o f e x c h a n g e s u b s c rib e rs a n l in th e t n t le a .e o f w ir e ,
w h e th e r u sed fo r e x c h a n g e p ro p o s e s o r fo r to ll l n - s . T i e
n u m <er o f te le p h o n e s o u t s t a n d in g o n th e 20th d a y o f D - c e li­
b e r , 1895, e x c e e d e d th a t o f D e c . 2 L J 894. b y th e s u m o f 93,470; m u c h m o r e th an t w ic e th e g a in ih a n y p r e v io u s v - a r , a n d
a b o u t th ree tim e s th e a v e r a g e y e a r ly g a in . T h e u se o f m e t a d ic
c ir c u it s h a s in c r e a s e d r a p id ly . J a n . 1. 189 i, fin d s t i n to ta l
n u m b e r o f m e ta llic sta tio n s 04,747, b e i r g a g a in elu tin g
th e y e a r o f 40,007 o v e r th e n u m b t r w ith w h ic h th e y e a r
b eg a n .
l o n g D is ta n c e T e le p h o n e .— In c o n n e c t io n w it h th is fa c t
sh o u ld be n o te d th e in crea se o f 33 p e r c e n t in th e n u m b e r o f
to il-lin e c o n v e r s a t io n s . I n th e L o n g D i-d a c e C o m p a n y ’s s y s ­
tem th ere w e r e o n J a n . 1, 1890. in o p e r a tio n 5.804 m iles o f
p o le lin es a n d c a b le s , a n d 9.1,351 m iles o f w ir e , c o n n e c t in g
119 o ffice s , an in c r e a s e d u r in g t i n y e a r o f l , l s 7 m ile s o f p o le
!m e an d c a b le s , 14,095 m iles o f w ir e a n d l 4 o f f i e t s . T h e L o n g
D ista n ce C o m p a n y has in v ested u p to D ec. 31, 1895, in lin e
c o n s t r u c tio n , fr a n ch ise s, e q u ip m e n t a n d su p p lie s, $11,435,055,
T h - c o m p a n y s t o w s an in cre a se in g r o s s e a r n in g s m 1 8 9 5 o v e r
1894 o f 31-1 p e r c e n t , th e a m o u n t f o r 1895, b e io g $ ( ,3 .0 ,0 8 4 ; f o r 1894, $ 1 ,0 1 1 ,9 0 2 ; fo r lt 9 3 , $329,302; 1693, $043,437.
M ea s u r e d S er v ic e S ystem — T h e in t r o d u c t io n in m a n y
o f th e la r g e r c itie s o f th e m e a s u r e d s e r v ic e sy stem has b e e n
p r o d u c i v e o f g o o d resu lts. T h e n e w p la n h a s m e t w it h g e n ­
era l a p p r o v a l w h e r e a d o p te d , a n d has c o n t r ib u t e d la r g e ly
to th e g in in n u m b e r o f e x c h a n g e sta tion s.
C o n s tr u c tio n b y L essee C o m p a n ie s .— D u rin g th e y e a r U10
c o m p a n ie s lea -im r o u r in s tr u m e n ts e x p e n d e d fo r th e n e w
c o n s t r u c tio n , $0,468,000; fo r a d d itio n to real estate, $165,0 00;an d fo r r e p a ir an d r e c o n s t r u c t io n , $7,333,000, m a k in g a to ta l
o f $14,151,000 a p p lie d t o e x te n s io n a n d c a r e o f th e te le p h o n e
p la n t in the U n ite d S ta tes. E x p e n d it u r e u p o n th is sc a le h a s
n o w b een g o in g o n fo r m a n y su cc e ssiv e y e a rs, a n d h a s r e ­
su lted n o t a lo n e in th e b u ild in g u p o f a v e r y e x t e n d e d tele­
p h on e s y ste m , b u t in b r in g in g th a t s y s te m t h r o u g h o u t th e
c o u n t r y as a w h o le t o a h ig h state o f e ffic ie n c y . T h e p r in c i­
pal citie s a n d t o w n s t h r o u g h m o st o f th e S ta tes east o f th e
M ississippi a r e n o w c o n n e c t e d b y w ir e , a n d c o n v e r s a t io n oa n
be h e ld b y t e le p h o n e o v e r d ista n c e s o f 1.500 m iles.
W it h in th e la st fiv e y e a r s a lo n e 130,000 m ile s o f t e le p h o n e
w ir e h a v e b e e n p la c e d u n d e r g r o u n d , a n d c o s t h a s n o t been
spared in a n y d ir e c t io n w h ic h w o u ld t e n d to b e tte r re su lts in
s e r v ice . T h e e ff e c t o f th is p o lic y is se e n in th e e n o r m o u s
d e v e lo p m e n t o f t h e t e le p h o n e u se in th is c o u n t r y as c o m ­
p a re d w ith o th e r s.
S ta t is t ic s .— T h e c o m p a r a t iv e sta tistics fr o m th e re p o r ts o f
fo u r y e a r s s h o w as fo llo w s :
1895.
1894.
1893.
1892.
Number o f instruments under
___
„ on
582,506 566,491 552,720
rental Deo. 2 0 ........................ 674,9<6
E xchanges Jau. 1 ....................
927
867
838
812
Branch offices................
686
572
571
539
Miles wire ou pole- ................. 260,324
232,008 214,676 201,259
Mile# wire (in buildings .......
1 2 .8 U
14,525 .1 2 )4 2 ?
iM f2
Miles w ir- u n d erg rou n d ....... 134,515
143,285 120,67.5
9<J ) i t «
Miles wire submarine.............
2,028
1.8-56
1-657
1-336
Total miles w ire,................ 449,728
390,674 353,480 307,791
Number Of circuits................... 237 837 212,074 305,891 201,322
Number o f einplojfiM#............
11,930
11-0J4
10,421
9,9 70
Number daily
ol stall
ms ...............
n A - j 'i 'w t i1,871,0a/
a 7 ? ’(!<?7 l,8od>18^.
1 u s s l's 'l
Number
eouueot’
ns .-».2 ,3 S l,4 2 0 2,03c},152
T he fo llo w in g is a c o m p a r a t iv e sta te m e n t of_ e a r n in g s , e x ­
penses an d in c o m e fo r fo u r years| o f th e A m e r ic a n B e ll O o .,
c o m p ile d f o r th e CHRONICLE:

THE CHRONICLE.

634
EARNINGS, EXPENSES, ETC.

1895.
1891.
1893.
1892.
E a r n in g s $
$
if
$
Rental o f telephones .............. 2,125,359 2,502,992 3,513,711 3,303,753
Dividends....................................2,523,14 • 1,937,357 1.824, i32 1,122,018
E x. terr’l & branch l i n e s ....... 148,085
100,939 l 'o,t521 101,300
Telegraph comm ission ..........
32,423
29,352
2 ,191
29,117
Tm e r e s t ......

Real estate andiniaoell’s .......

2 1 5 ,3 1 0

190 ,15 5

2 1 5 ,8 3 0

1 0 3 ,3 3 0

80,006

71,819

79,183

75,533

T otal......................................5,124,952 4,848,214 5,781,076 5,100,887
Expenses, inol. lot. and taxes,
concessions, e tc .....................1,911,193 1,721,459 1,855,590 1,639,211
N etearnings........................ 3,213,759 3,123,785 3,925,486 3,411,676
D isbursem ents

Regular dividends.................... 2,502,45 3 2,100,001 2,214,156 1,927,227
E xtra d iv id e n d s ....... ............... 630,000 600.000 1,125,000 911,863
D epreciation reserve, eto.......
81,306 123,785 586,329 492,586
Total......................................3,213,759 3,123,785 3,925,435 3,411,676
LEDGER UALANCE DECEMBER 31.
1895.
1891.
1893.
1892.
Debit
<j>
tjj
<£
$
Telephones........................ 1,285,946 1,209,787 1,266,182 1,133,900
Real estate........................ 1.045,927
950,927
950,984
9 =>0,977
S t o c k s ...............................44,121,681 38,268,456 37,065.131 34,120,796
MeTchan, aud m achinery
14,054
14,233
13,312
14,441
Bills aud acc’ ts reo’ ble ...
3,463,214 4,355,554 3,573,053 3,781,747
Cash and deposits............ 1,337,893
760,776 2,843,678 2,365,419
Total ........................... 51,268,715 45,559,733 45,712,340 42,367,280
Credit—
Capital stock. .......... ...... 21,500,0 <0 20,0 )0,000 20,000,000 17,500,000
....................................................
Premium account............ 1,398,435
Debenture bonds, 1888.. 2.000,000 2,000,000 2,000,000 2,000,090
Bills and a cc’ts payable. §1,120,616 ; i , 107,950 11,550,596 *1,334,516
Patent account.................12,713.809 10,228,571 10,137,49 3 10,169,925
Profit and l o s s .......... . ... 6,349,445 5,849,444 5,682,227 5,684,104
R eserve........ ...................... 4,035,399 4,222,757 4,191 013 3,527,723
Surplus............................... 2,151,011 2,151,011 2,151,0L1 2,151,012

[V ol . LXI1,

thorized the issuance of §250,000 bonds on the Terminal Rail­
way, which is to extend from the town of Aransas Pass to the
deep-water front on Harbor Island.
Surveys—The preliminarv survey has been complete 1 for
the Aransas Harbor & Northern RR., which is projected from
Aransas Bay northerly io Sniicliville on the M. K. & T., adistance of 156 miles.—V. 62, p. 184.
American Tobacco—Common Stock Dividend in Cash and
Scrip.—Late Wednesday afternoon was declared, on the com ­
mon stock, a dividend of 2 per cent in cash and of 20 per cent
in scrip, payable at the Farmers’ Loan & Trust Co. May 1. At
the meeting of the Board of Directors the following resolu­
tions were unanimously adopted:
Whereas, This eom pany has invested upwards o f $1,000,000 iu cash
of its surplus earnings iu the purchase of new business aud property,
which have proved profitable investments; aud
Whereas, The stockholders are entitled to the undivided surplus
amounting to $8,600,371 86. as o f Deo. 3 1 ,1 9 9 5 ; it is
Resolved, That the Board ot Directors deems it fo r the interests of its
stockholders that the com pany pay. iu addition to the dividend iu
oash above deolared, a scrip dividend o f 20 per cent upon its com m on
stook to all holders of comm on stock ot record April 15, 1896, such
scrip to l e redeem able iu cash or convertible into com m on stock of the
com oany, at par, at the option o f the com pany, and to hear interest at
the fa te o f 6 per cent per annum, payable semi-annually in November
and May o f each year only out o f the net earnings of the com pauy left
after the annual payments o f 8 per oent dividend upon the preferred
stock.—V. 62, p. 587.

Atchison Topeka & Santa Pc R R .—New Securities Ready—
Assessment Payable—The Reorganization Committee gives
notice that the preferred stock of the new company is now
ready for delivery and that the balance of the cash assess­
ment on the second mortgage, Class A and Class B, also on
the income bonds of 1889, being 2 per cent o f the par value
thereof, is called for payment on or before April 30. Holders
making such payment and surrendering their certificates will
receive new preferred stock to the amounts specified in the
................... 51,268,715 45,559,733 45,712,310 42,337,280
Total
plan of reorganization.—V. 62, p. 587,
* $1 ,050 ,0)0 is dividend payable Jan. 16s 189,3.
Baltimore & Ohio KB.— Pittshursr Cleveland & Toledo
t $1,050,000 is dividend payable Jan. 16- 1894.
t $900,000 is dividend payable Jan. 15, 1895*
BB.—West Virginia & Pittsburg KB.—Coupon Payments
§ $967,5 j O is dividend payable Jan. 15, 1896.
April 1—On April 1 were paid as usual the coupons of the
— V. 62, p. 547.
Baltimore & Ohio Company’s extended 4s o f 1853. Messrs.
J. P. Morgan & Co. in New York and J. S. Morgan & Co. in
London also offered to purchase the coupons of the Parkers­
burg Branch 6s o f 1879. Brown, Shipley & Co. in London
G E N E R A L IN V E S T M E N T N E W S
also offered to purchase the coupon of the sterling
per cent
loan o f 1883fo r Philadelphia Branch, The Central trust CornReorganizations Etc.—Latest Data as to Defaults, Re­ Company paid the coupons of the Pittsburg Cleveland
organization Plans, Payment o f Overdue Coupons, Etc.— & Toledo first 6s, as did the Farmers’ Loan & Trust Company
All facts of this nature appearing since the publication of the the coupons of the West Virginia & Pittsburg RR. first 5s.
last issues of the I n v e s t o r s ’ and S t r e e t R a i l w a y S u p p l e ­ The coupons of the Staten Island Rapid Transit first 6s were
m e n t s may be readily found by means of the following index.
also paid when due.—V. 62, p. 82, 591.
This index does not include matter in to-day’s C h r o n i c l e .
Brooklyn Elevated B R .—Kings County Elevated R R.—
r a * f t r other minor companies see also index C h r o n i c l e
Proposition to Use Brooklyn Bridge.—These companies have
Feb. 8, p. 376, and March 7, p. Jf>5,
made a proposition to the Mayors of New York and Brooklyn
R a il r o a d s an d Mis c e l . Co’ s.
( V olu m e 6 2 —
P a ge to lease for a term of years the railroad on the Bro *Klyn Bi idge,
V o lu m e 6 2 —
P a g e.
R a il r o a d a n d M is c e l . C o ’ s (C on
If such lease is
Atchison & Pike’s Peak............ com . 588 N. Y. Penn. & Ohio...sold 411;reor. 457 and to take entire charge of its operation.
Atl. & Pac.. forecl. su it. 184, reevr 231 i•Norfolk & W estern..........plau 414, 503
made, they say they will undertake the following:
Baltimore & Ohio............
reev r1s 45§
..............corn’s. 445, 557
do
do
do
do
....... .............. coup18 455
Brigantine Beach — sale and reorg. 547
B utte&Boston Min’g ..recvs.A Com. 547
Cape Fear & Yadkin V a l.reorg. 232, 277
do
do
....... fo rcl. i 88
Carolina Knoxville & W ...........sa e. 588
Cedar Falls & Minnesota.........fo r d . 588
Central Branch, Un. Pac............. com 319
Central Ohio...................................coup. 455
Central Vermont...................... reevr's. 588
Central Washington................... reorg. 501
Chicago Gas..............consol. 185, 319; 588
Chicago & Atchison Bridge...com.. 588
Chicago & No. Pac..................... reorg. 547
Chic. Peoria & St. Louis.. .plan.232, 3L9
Choctaw Oklahoma & G..pian..547, 588
Cm. Jackson & Mack ..............reorg. 277
Cin. & Muskingum Valley___eoup. 548
Cleveland & Canton, July, 1895,
coup, in defAQ. 232
Golum. & H. Coal & l r .coup. 277,502 589
Det. Lansing & No. .plan. 319; com . 456
do
do ................ forcl. 589
Duluth Transfer...........default 232, 277
do
do
..........................com. £89
Duluth & Winnipeg.......... sale. 320, 502
Florida M idland............................sold 548
Ft. Worth & Denver City ....r e o r g . 233
General Electric.......................... com. 320
Grand llapids & Ind. .sale, 502; reor. 548
Green Bay Winona & St,.‘P.sale.413, 589
Interoceanic Ry of Mex .........plan 364
Jacksonv. Tampa & K. W .sale 364, 414
Kansas City & Omaha............ forecl. 502
Kinderh. & Hudson..com. 277; sold 502
Little Rock & Memphis............sale 364
Lou. Ev. & St. L ...reorg. 186; forecl. 502
do
do
. .change in reevrs. 589
Louisv. St. L. & T ex..reorg. d eposit• 277
do
do
..................... sale. £89
M a rietta * North G a ...re-sale 502, 548
Memp. & Char..coup.233;ipl'j?i.457, 589
do
do
......................... com. 457
Meriden W aterb’y &C-onn. R.forecl. 457
Mexican N atio n al.... incom e coups. 590
Mexican Southern........read)ustm 't. 590
Montgomery Tusc. & Memp..rcar<7. 590
New Orleans & Southern......... plan. 590

Northern Pacific., .reovrs. 233, 414, 462
First—To provide continuous rapid transit betw een New Y ork and
Northern Pacific ......................Com. 365
do
do plan......... 527, 549, 550 B rooklyn w ithout change o f cars by join in g the elevated railways of
do
do Br. Line defaults. 590
the tw o cities.
Omaha & St. Louis............................ sold234 Second— To reduce the rates ot fare to passengers using the elevated
Oregon Im provem ent Co..........com. 365
railways and the bridge 2 ^ cents per single passage, or 5 cents per
Ore. Ry. & Nav........plan operative 278
do
do
........................... sale 365 round trip, by abolishing railway tolls over the biid g e to passengers
Ore. Short L in e * Utah No.pZan.503, 504 who have paid a fare o f 5 cents to ih e elevated railroad.
do
do
do
___reorg. 549
Third—To abolish the inconvenience o f tw o transfers, thus saving to
Peoria Decatur & Evansv........reorg. 186 the passengers desiring to cross from one city to the other more than
do
do
coup. 365 tw enty minutes per round trip.
Philadelphia & Reading___ deposits 186
Fourth—To insure to the cities o f New Y ork and Brooklyn a fixed
do
do
........ reorg. 365
do
do
............. sale. 590 and certain incom e irorn the railw ay o f the New and Brooklyn Bridge,
Phila. Reading & N. E .................... reorg.549and to eliminate the cost o f makiug changes and providing im prove­
Pittsburg Clev. & T oledo..........com. 591 ments pending the continuation o f the agieement.
Pittsburg Marion & C hic.. .sale.503, 591
F ifth—To continue the operation of the local *ail way over the New
Pittsburg & W estern......
reevr. 462
San Diego Land & Town Co ..reorg. 549 York and Brooklyn Bridge as it is now operated, at the same rate of
! Seattle Lake Shore & E. .reorg. 415, 594 fare, 3 cents and 2*% cents, as is n ow charged by the cities.
So’west’n Ark. & Ind. Ter..... reevr. 594
The surface roads in Brooklyn some time ago proposed to
I St. Joseph & Grand Island...... sale 279
do
do
.. .rtorg. 366 run their cars over the bridge, and they naturally oppose the
St. Lonis & San Francisco.. .reorg. 366 granting of exclusive rights to the steam roads.—V. 6.2, p. 588.
do
do
..coup. 591
Toledo St. Louis & K. C........ rtorg. 336
Canadian Pacific Ry.—Annual Meeting.—At the annual
Union Pacific.................... coup. 187, 415
do
do ..........; .........reorg. 187, 462 meeting in Toronto ou Wednesday resolutions were passed
Kansas Pacific ...................... plan 234 approving
the
directors’ action with regard to the
Union Pacific Denver & G__ r, org. 366
United States Cordage., .forecl.187, 321 arrangements with the Vanderbilt lines, as stated in the re­
St r e e t R a i l w a y s .
port, and with the Grand Trunk. The matter will be gone
Brigantine B e a c h ...........
reorg. 456
into more fully at a special meeting. The old Board of Di­
I Brooklyn 'fra ction ..reorg. 413,456, 588
[ Chattanooga E lectric........ soldAVS, 588 rectors was re-elected. The annual report will be found on
i Citizens’ Street iPine Bluff, Ark.)
subsequent pages of to-day’s C H RO NICLE.—V. 62, p. 500.
sold. 589
i Columb.&Maryland (E lec.). .reevr. 689
Cape Pear & Yadkin Valley B B .—Road to be Sold as an
; Fairhaveii & N. W. (Wash.)recur. 58n
Hammond W hiting & E. Ch..reevr. 502 Entirety.—A press dispatch from Asheville, N. C., states that
Houston City St..........................sale 548
Lima Electric. -...................... reevr. 502 Judge Simonton has decided that the property shall be sold
Madison City (W is.).................reevr. 414 as a whole, as was desired by the Baltimore Committee,
Nashville Traction.....................'■old 502
People’s Cable Ry. (Kan. City) sold 549 which represents in the aggregate a majority of all the
Syracuse Street RR reevrs. <Screorg. 504 bonds, and not in divisions, as was desired by the New
Tiffin Electric Street (O .)..........sale 549
Un.Klec.Ry.(Saratoga,N.Y.)..reevr. 553 York Committee, which represents chiefly the “ A ” bonds.

American Bell Telephone—Increase o f Stock.—At the
annual meeting the stockholders voted a 10 per cent increase
in capital stock, or §2,150,000, from §21,500,000 to §23,650,000.
The annual report is on a previous page.—V. 62, p. 547.
American Electric Heating—.Begins .Business.—This com­
pany, mentioned last week, has opened an office in the Havemeyer Building, this city. The Electric Heating Company of
Boston, capitalized at §500,000, announces by advertisement
• that neither it nor any of its sub companies is included iu the
consolidation.—V. 62, p. 537.
Aransas Harbor Terminal By.— Aransas Harbor & Northem RR, Authorized—The Texas Railroad Commission has au*

The Baltimore Committee favors an alliance for the entire
road with the Seaboard Air Line, the New York Committee
an alliance with the Southern Railway, embracing merely
the portion of the road covered by the “ A ” bonds, if the
whole road cannot be obtained on the terms offered. Their
respective plans were described in V. 61, p. 1153, also p. 830,
and Y. 62, p. 39, 588.
Central Vermont BB.—Bondholders' Committee Calls for
Deposits.—The Consolidated Railroad of Vermont 5 per cent
bondholders have formed a committee for their protection,
composed of Benjamin P. Cheney, of Boston ; Samuel E.
Kilner, New York, representing the Billings estate; Ezra H.
Baker of Lee Higginson & Co., and Henry D. Day, of R. L .

A pr il 4, 3896.]

lH E CHRONICLE.

Day A Co , Boston, with Michael H. Cardoza, New York, and
Moorefield & Storey, Bjston, counsel. It is said the issuing
o( receiver's certificates ahead of the 5 per cmt bonds to re­
deem the floating debt is being coosilered, and can oaly be
prevented by the prompt and united action of the bondholders,
tjee notice in another column.
Notice to Creditors.—The Central Vermont has outstanding
a very large amount of loaua and bills payable, secured by
pledge of its 4 per cent bonds. The balance sheet of June
3'), 1894 (Chronicle of Feb. 13, page 346.) shows current
liabilities of $3,838,531. In view, therefore, of the pending
litigation, the National Bank of Redemption, Boston. Mass.,
acting with Charles P. Searle as counsel, calls upon the cred­
itors to unite for mutual protection by sending to it their
names and addresses. The bank has already taken action to
protect its own interests and the interests of all creditors
who mav be made parties with it.
Oydensburgdt Lake Champlain RR —Difault .—Thee mpons
of this company, 8 per cent bonds, were due April 1, but it is
said the Central of Vermont receivers have not had time to
consider their payment. According to a report from Boston
the suspension of rental, it is thought, may be temporary.
Grand Trunk’s Allegations.—The allegations of the Grand
Trunk, in its bill for receivership, include the following:

635

A half interest in the stock and bonds of the Hume3ton A
Shenandoah was one of tne assets of the Purchasing Commi tee of the Wabash. The C immittee disoosad of this in­
terest last fall to the C. B. A Q , which gave that Company
the sole ownership; the amount received (reoorted to ba
about 8510.000) going to the Wabash towards the liquidation
iff the §611,000 given in the last report of the Wabash as due
from the Purchasing Committee, and increasing by so much
the cash assets of the Wabash Company.—Y. 61 p. 419 ; V.
63, p. 415, 501.
Illinois Central RR.—Louisville & Nashville R R —Su­
preme Court Decision as to Control o f C. O. & S. W, —The
Uaited States Supreme Court on Tuesday sustained t le inj iaction obtained by the State of Kentucky forbidding the
Louisville A Nashville to purchass control of the Ch sa oeake
Ooio A Southwestern RR. The case was appealed by the L.
A N. from the decision of the Court of Appeals, under a
writ of error, the company alleging an entire disregard of the
provisions of its charter, granted by the State in 1850, long
prior to the adoption of Kentucky’s present Constitution,
which, in explicit terms, without saying anything about par­
allel lines, gave the right to “ purchase and hold any road
constructed by any company.”
The Supreme Court holds as follows: That a general righ t to purchase

T b« Orand Trunk la a heavy creditor of the Vermont company,
with other roads was never oonferred upon the Louis
holding about $70U.'*OO Connolidated R- 5« and * l .‘>o '.OOb O n tr.il Ver­ or o tnsolidate
A Nashville Company; that the Chesaoeake C jm oan y was never
mont a*. and In addition claims an auinat 1 Jr.«tU>: balance of $115,712, vine
vested with the power t , consolidate Its oapital stook, franchises or

which has r m up since duly, 1891, and $1 JO.OUO of tne Central Vermoat's Bolting debt. Other large creditors are likely t ) press for pay­
ment. and a dismemberment of the system is probable through a-tasks
on the various leases, with the result that the com pany will ua unable
to pay the fixed charges on it* m tin mortgages.

To prevent *u :h a contingency the receivership was held
necessary.—V. 63, p. 588.
Cleveland Cantoa A Southern K 1 .—Foreclosure of First
Mortgage—The International Trust Co., Boalon, trustee under
the Cleveland A Canton tint mortgage, died Us suit for fore­
closure last week. Juoe 1 is the date fixed far tiling answers.
In the meantime efforts are being male to bring together the
several interests and to formulate a reorganization plan.
Over $1,800,000 out of the $2,000,000 firsts are deposited wtth
the Mercantile Trust Co. under the agreement with the first
mortgage bondholders' committee, of which Mr. Corbin is
Chairman. Ns p-nalty has yet been fixed for deposits,
though the tim* limit therefor expired Feb. 15.—V. 83, p. 450.
C<B«r d Atene Hf. * Navlgstio t—Northern Pacific RR-—
Reorganization Notice —Tne committee consisting of W. J.
Quinlan, Jr., Chairman, M. L licudder and John P. Towns­
end, gives notice that, having received on deposit more than
three-fourths of the general first mortgage bonds of the
Cosur d'Alene Ry. A Navigation Co., it invites holders who
have not vet deposited to do so forthwith at the Farmers Loan
A Trust do,, New York City.——V. 60, p, 1038; V. 63, p. 880,
■Col uni has a Hocking Coal * Iron Co.—Reorganization —
The Court adjourned for one week the hearing set for last
Tue»-lay. The outlook for the stock and bond holders coming
together is said to be favorable. Tne scheme is a friendly
foreclosure, inuolving the reduction of the interest to 3 per
cent but making the new mortgage cover additional propery.
The Stock is to provide working capital and meet other
requirements by an asse-srnent of $3 a share.—V. 62, p. 589.
Consolidated Traction, Pittsburg.—Operation o f Leased
Lines Begun.—On Thursday this company took possession of
the various lines leased by It several months ago, including
Pittsburg Tra'tion, Duquesne Fraction. Central Traction,
Allegheny Traction. Citizens' Traction and Fort Pitt Trac­
tion. It is estimated that the cost of the rehabilitation will
be $4,000,000.—V. 63, p. 41.
Detroit Lansing A Northern RR.—Reorganization Notice.
—The committee announces that 90 per cent of the bonds and
stock treated under the plan are now deposited. Farther depo*iUi may be made up to April 15 without fienalty. fcee auvertisement on another page.—V, 62, p. 589.
Duluth A Winnipeg.—8«fe Postpones! .—The sale of the
road has been postponed till April 22 to allow Foley Bros. A
Guthrie. railroad contractors, to file affidavit* showing why
they should bo made parties in the suit.—V. 6‘2, p. 308.
Fort Wayne A Belle Isle Ry. Co.—Detroit, Mich.—-Stock
Increased.—The directors have decided to re lay a portion of
the road with 90 lb. rails—also to increase the capital stock
from $300,000 to $100,000,
Central Electric.—Wesllnghoase Electric A Manufactnr
Ing. -Contract Executed.—The contract a* to the pooling of
patent* mentioned in the (CHRONICLE of March 14. page 503,
was this week duly executed and delivered.—V. 62, p. 503.
Georgia A Alabama Ry.—Line to Savannah Opened April
l — Under the arrangement mentioned in the C hronicle oi
March 7, page 436. this company began April 1 the running
of its own train*, both freight and passenger, to and from
Savannah. At Savannah it uses the terminals of the Cen­
tral of Georgia, including its West Broad Street passenger
depot, and also the terminals of the Ocean Steamship C o.—
The Georgia A Alabama Ry. is now operating 363 miles or
railway.—V. 6'2, p. 502.
Hnmeston A Shenandoah RR.—Chicago Burlington A
On jury R tl.-W*bixh K It —Sol'l in Foreclosure.—A press
dispatch from Clarinda, la.. March 31. aavs that the Humeston A Shenandoah Railroad was bid in at the foreclosure
sale for $2,900,000 by E. C. Murphy for C. E Perkins. Presi­
dent of ihe Chicago Burlington A tjutncy Railroad Company.

with that o f any other road owning a parallel or com peting
f iroperty
ine; that, canceling that the requisite power existed In both the above
companies, section 201 o f the Constitution of 1891 was a legitimate
exercise g f the pow er o f the State, and forbade such consolidation.

Justices Brewer and Wnite concurred in the opinion.
The present decision has been confidently expected by the
Illinois Central, which has been going ahead, witn i's prepara­
tion for absorbing the C. O. A S. W. property, as it is now
free to do, thus securing an independent line to Louisville,
Ky. The original contract provided for ownership of the road
by the L. A N„ the Illinois Central to have merely trackage
rights between Fulton and Memphis.—V. 62, p. 538.
Louisville Evansville A St. Louis KR.—Receivership.—
R-gardiog the appointment last week of George T. Jarvie to
b * a receiver of tne Eistern portion of this road, the Evans­
ville Courier says :
Judge Woods held that the first mortgage bondholders were entitled,
as a raattorof right, to name their m an as receiver. He explained
that it was by no m eins a reflection on the present incumbents. He
denounced the form er assault on Messrs. Hopkins and Wilson as des­
picable but as the I ist petition w is a spa dal issue In equity ha felt
perfectly Justified iu having both sides interested in the management
o f the road The two divisions of the rosd are t he m anaged in har­
mony. This was especially demanded by the C ourt.—V. 82, p. 589.

M.icon A Birmingham R R —Final Transfer.—At Macon,
G».. on Monday, in the Superior Court, the balance of $100,000 w is paid fur this road, and a deed of conveyance was
made to Frances M. Edwards and B. C. Parsons, “ of the
county o f Suffolk and Commonwealth of Massachusetts.” The
Court refused to make the attorney reveal the name of the
real purchasers of the road, and that remains a mystery,
though it appears that they are the holders of §l,16J,000 of the
first mortgage bonds. On these they were entitle! to a credit
of $19,350, this sum being their share of the net proceeds of
sale, each bond receiving §16 68.—Y. 63, p. 233.
Memphis A Charleston RR.—Three-fourths the 7 Per Cents
Deposited—Time L im it.— The reorganization committee,
Adrian Iselin, Jr., Chairman, announces in another column
that more than three-quarters of each class of the 7 percent
bonds have been deposited under the plan and that no securi­
ties will be received after April 10, 1896, except upon such
conditions as the committee may deem proper.
Deposits.—To April 3 the deposits of 7 per oent with the
Iselin Committee were as follows:
2d Jf.
Extended.
Total issue
$105,000
D eposited ....... 93,000

1st tt 2d SI.
Extended.
$2,155,000
2,001,000

Tennessee.
Lien.
$1,400,000
1,213,000

Consols.
$864,000
660,000

General Mortgage and Stock Committee.—The Borg Com­
mittee states that it has a reorganization plan in preparation,
but no definite announcement is possible as to when it will be
made public. It is understood that this committee represents
about 80 per cent of the gen eral mortgage bonds.—V. 62, p.
589.
Mexican National RR.—Proposition to Convert Bonds Into
Stock.—A circular has been issued by H. VV. Smithers,
Chairman of the Mexican National Bondholders' Cimmittee,
and Matheson A Co., calling a meeting of the bondholders
March 31 to consider a proposition to convert the bonds into
preferred stock and debentures.
“ This proposition,” the circular says, “ is not a reorgan­
ization, but simply an arrangement between the A and B
bondholders whereby these binds will bj held by a corpora­
tion, viz., the Mexican National RR. C o ., Limited, in place
of by numerous scattered individu al holders. It will not in
any way affect the management of the present Mexican Na­
tional Railway Co., as the election of a majority of the direc­
tors is already ves-ed in the bondholders—-that is, in the prior
lien bonds, which have two votes, and the A and B bonds,
which have one vote for each $1,000 bond. The proposed
corporation will be able to speak for the A and B bonds, and
can facilitate any reorganization should one at any future
time become necessary.
The Plan.—It is proposed that ths new company above
mentioned shall issue:

THE CHRONICLE.

63(5

Ordinary stork in exoliumre for *•B ” bon ds.............................£2,000,000
With right to increase 10............ ............................................... 2,350,000
Preferred stork 5 per cent non-curaulaiive having two votes
to one vote o f oxdinary stock, lo be issued in exchange for
**A” oouds........................................................................ ............... 2,500,000
Debenture stock bearing 4 or
per cent interest for the^ Amount
urpnte o f re idling, if oeetued advisable, i lie prior lie u / n«»t
ox.ds, and lo r ihe building o f bran ch es............................ )
fixed.

g
Exchange o f Securities.—The holders of A and B bonds can­

not com pel the prior lien bonds to accept the proposed deben­
tu re stock, the i ight to pay these off at par on six months’
notice resting with the Mexican National Construction Co npany or the stockholdfrs o f the Mexican National RR. The
exchange of the oik tr Securities is, however, proposed as fol­
lows, each old bond to carry all unpaid coupons:

[VOL. LXII,

at 105. Non accumulative adjustment preferred stock, bearing
4 per cent dividends, will o- is ued to the amour) of $23,000,"
000, and all of it distributed am mg the bonds affected oy the
reorgaotzition. The terms upon n t.ch the new binds and
preferred stock are lo be d stributed are given iu deiail in the
official announc meat printed ia an adjoining crlu na. 1'he
issue of new c >mtnon stock will be $66,000,000. Holders of
the present common and preferred shares will, upon payment
of $12 50 in cash, receive 75 and 112J£ per Cent respectively in
the tew common stock. All securities affected by tbs plan
must be d ep u ted with the Mercantile Trust Compinv not
later than April 30. The Trust Company will be ready to re ”
ceive deposits on April 6.—V. 62, p. 590.

Northern P icilic RR—Great Northern Ry.—Supreme
Court Decision in Pearsall Case.—At Washington, on Mon­
day, was delivered hy Justice Brown the opinion of the
“ A ” b o n d s ........................ .
p. C.
United S ates Supreme Court in favor of Tbomas W. Pear­
“ B ” b on d s....... ............................^ p. c.
As the expenses of carrying out the scheme w ill be heavy, sall, a stockholder of the Great Northern, in his suit to enj iin his company from entering into an agreement for the
it is proposed to levy the above assessment.
Purpose o f P lan.—The purpose o f the plan is stated as purchase of the Northern Pacino RR The case came up on
appeal by Pearsall from the adverse decision of the Cir­
follow s:
The end in view is to make the “ A” and “ B” series im m ediately cuit Court for the District of Minnesota. Since that decision
more valuable and marketable than they can be while iu their was rendered the present successful plan for the reorganizip iesent state with such a. large am ount o f arrears accu­ tion of the Northern Pacific independently of tne Great
mulated upon the “ A” series; to give m ore im mediate and Northern has been promulgated, but the principle involved
practical control over the property to ihe holders: aud to bring
in the suit is of no little general importance, fhe Supreme
matters into such shape that it m ay be possible in the future to r
fund the o iio r lien bonds at a reduced rate o f interest, w hich can only
Court holds that the right conveyed by the charter of the Min­
be accomplished if the “ A” and “ B” bonds are iu such a o nicreteforw . neapolis & St. Cloud Ry. (now the Great Northern) to eoosolas to be ah e to j, in in the necessary legal form alities and give couseut
idate with aoy oth.-r railway could be and had been limited
to the requisite arrangements.
by an act of the Minnesota Legislature passed in 1874. The
Milwaukee & Lake Winnebago RR.—W isconsin Central Court says that it was competent for the Legislature to limit
Lines—Flint & Cere Marquette Rlt. — Extension and Lake the charter and io declare
P ays
A ssbss-

H oldehs

of each

$1,OC0.

m bnt.

/ - A n d w i l l R b o e iv e . - v

Ordinary
&lock.
............
£200

Preferred
Stork.
£ 2 ±8
............

F erry.—The extension of tne Milwaukee & Lake W innebago
to Manitowoc, on Lake Michigan, a distance o f about 45
miles, is under rapid construction, and w ill be completed
about July 1st. A t Manitowoc, w hich possesses one of the
best haroors on Lake Michigan, the Milwaukee & Lake
W innebago Railroad Company has secured control of very
extensive lands for terminals as w ell as for additional docks
and industries, and also, it is said, practically all the open
water front aside lrom that owned by the Mil waukee L ike
Shore & Western. As stated in the C h r o n i c l e o f Jan. 18, tne
Flint & Ptre Marquette is building a mammoth steel c ir
ferry, capable of carrying at each trip thirty loaded freight
cars, to run to Maniio v oc and expected to make two trips
daily. The significance of this fact only now appears— the
ferry is to transport whole trains of cars across Lake Michi­
gan, form ing ia connection with the Wisconsin Central and
Flint & Pere Maiquette a part o f a new short route from St.
Paul to New England tide-water as well as to New Y ork and
Philadelphia. The reduction in distance by this route as
compared with the shortest line now existing between St.
Paul and Buffalo is esiimated by those interested at 115 miles
out of 947, or on fast freight a saving in distance of aoout
twelve per cent, and in time o f tw o to three days. The ferry
w ill be readv for use about Oct, 15.
Few Bonds.— W hile the W isconsin Ceatral Railroad Com­
pany, now in receiver’s hands, has a lease of the original line
of the Milwaukee & Lake W innebago, the lessor com pany is
a thoroughly solvent corporation and is building this exten­
sion on its own responsibility and paying for it out of the pro­
ceeds of $1,000,000 first mortgage six per cent Manitowoc
Division gold bonds due Oct. 1, 1926, but subject to call on
any interest day at 110. Tne first coupon on these bonds is
payable in cash A pril 1, 1897. As a sinking fund for the
bonds are pledged $1,000,000 com m on stock of the Milwaukee
& Lake Winnebago RR. Co. and the entire capital stock
($50,000) of the Manitowoc Land Improvement Co.
The
benefit to be conferred upon the Wisconsin Central lines
through the opening of this new channel for eastbound
traffic and general lake business it is thought will be very
g re a t—V . 61, p. 281; V . 62, p. 185, 455.

Nassau E lectric R R .—Kings County Traction— Transfer
o f Control—The Nassau Electric RR. Co. w ill take form al
charge of the offiers and business o f the Atlantic Avenue RR.
Co. at 12 p. m . to-night President H. M. Little, super­
intendents Jason Cameron and Bernard Mullen and the entire
clerical staff w ill be replaced by the representatives of the
Nassau Co., which will have its offices in the building o f the
Brooklyn Real Estate Exchange.
The Kings County Traction Co. was incorporated in Albany
on Saturday last to take the place o f the Brooklyn Traction
Co., the corporators being P. F. Vaughn, J. H. Lockman,
of Brooklyn; Em il Carlebach, J. A . Snyder and George H.
Levy, of New Y ork .—V . 62, p. 588.
Norfolk & Western R R .—Reorganization P lan.—The plan
of reorganization prepared by the New Y ork Executive Com ­
mittee in co-operation with the London and Amsterdam com ­
mittees is printed in full on subsequent pages of to day’s
C h r o n i c l e . The plan provides for an issue of $62,500,000
first consolidated m ortgage 4 per cent gold bonds, of which
$28,322,675 will be used to take up securities affected by the
reorganization, $25,986,889 will be reserved to retire at ma­
turity the hoods not dis urbed by the reorganization, and the
remainder w ill be used for improvements and additions to the
property. To guard against unforeseen contingencies which
may render it impracticable to sell $3,500,000 of the first con­
sols as proposed in order to take up existing obligations,
authority is also given to issue $3,500,000 or £700,(100 o f 50year 4 per cent p r io r Hen bonds, which shall be subject to call

T h a t the pow er it had con ferred upon the M in n ea p o 'is & St. C lou d
C om pan y to cans ilid tie its in terests with oth er siiuu.tr corpora*io is
sh uld not. he ext-ivised s i fa r as ap olioa ble to para-le! co m p e tin g
Jiuei in asm u ch as It is fo r the inte e - t o f the p o o le i uat th t o should
he cou ip etiiiou betw een p trallel railroad s. - * * s *
Th e con sol­
idation <i£ tiros-* tw o tnvai cn rg o ra tiin s w ou ld u n avoid a olv resu lt iu
givin g the G rea t N orthern a m ou o p oly o f .11 t r h f l i iu the norlh ern
h a if o f the S t it e o f M innesota, as well as o f all tr iu s itonem e . t i l
tratiic north o f the tine o f t,h * U n io n Pacino, a g a ia s t w hich publio
regu lation s w ould be bu t a feeble protection.
I’ lls a c t o f til t L egis­
lature o f l « 7 a . he coticuide.1, un dou btedly reflected the gen eral sen ti­
m e n t o f the pu blic th a t their best secu rity is in co m p e l! ion.

The decision of the Circuit Court was therefore reversed
and the care remanded. Mr. Justice Field aud Mr. Justice
Brewer dissented.—V. 62, p. 5U3, 590.
Northern Pacific RR.— Success o f Plan.—Time Limit fo r
Deposits.— At meetiugs in Berlin on Thursday of the commit­
tees represen ing respecuv-ly the firsts, sec in Is, thirds and
consols, the plan was unanimously assented to. The c implete
plan was only distributed this week in Europe and nas h id
the eff ct of largely augmenting the deposits. It is now an­
nounced that over two thirds of all classes of securities have
been deposited under the plan and that April 23 has been
fixed as the limit of time in which further deposi s will be
received without penalty. For further details holders of se­
curities are referrtd to an announcement in another column
of this paper.
The New York committee representing the third mortgage
bondholders formally announced on the 28th ult. their en­
dorsement of the plan.
Oregon Short Line& Utah Northern Ry. —Utah Southern
Bonds Deposited—la accordance with the resolution passed
March 26 oy the certificate holders, all the Utah Southern gen­
eral mortgage bonds and Utah Southern exrension bonds
have been deposited under the plan and agreement for
reorganization of the Oregon Short Line & Utah Northern
Ry. Co., dated Feb. 20, 1896.—V . 62, p. 549,
St. Lnnis Alton & Terre Haute R R.—Illin ois Central
R R.—Lease Consummated.—Under date of April 3 President
Clarence F. Parker, of the St. Louis Alton & Terre Haute,
makes to the stockholders the following announcement:
“ Your directors are now able to notify you that they have,
with the written approval and consent of a mu j uity of the
stockholders, completed and duly executed a lease of all the
railroad and properties of your company to the Illinois Cen­
tral RR. Co. for the period of 99 years from October 1, 1895,
with the privilege of renewal. This lease has been made
upon the express agreement and guarantee of the said Illi­
nois Central RR. Co. to pay a dividend of 2J^ per cent per
annum to the stockholders of this company. The first pay­
ment will be due on July 1, 1896, and semi-annually there­
after.”
Belleville & Southern Illinois RR.—Lease Assumed.—The
St. Louts Alton & Terre Haute having been leased to the
Illinois Central, Edward F. Leonard, Secretary of the Belle­
ville & Southern Illinois, announces to the stockholders of
that company that the Illinois Central RR. Co. has assumed
the lease of their company to the Terre Haute Company with
a modification under date of Oct. 1st, 1895, “ guaranteeing
that a fixed rental of 4'80 per cent per annum be paid to the
holders of the preferred shares of the Belleville & Southern
Illinois RR. Co., by the Illinois Central RR Co., for 99 years
from Jan. 1,1896, with privilege of renewal, the first payment
to be made on July 1st, 1896, and thereafter each six
months.” A majority of the stockholders haviag signified
their written approval of such modification of the lease, the
same has been duly mace, ratified and extended as and from
Oct. 1st, 1895.—V. 62, p. 279. 588.
VW" F or o th e r In v estm en t Item s see p a g e 643* 6 4 4 .

THE CHRONICLE,

A pril 4, 1896.)

(S37

12. An A ct of the United States Congress requires all loco­
motives and cars engaged in Inter-State commerce to be
equipped with air brakes and automatic couplers on or
before 1st January, 1898. The situation of your lines and
CANADIAN PA Cl FI D RAILWAY COMPANY their interchange o f traffic with the American railways
make it necessary to equip practically all of your freight cars
FIFTEENTH ANNUAL REPORT OF THE DIRECTORS in compliance with this law, involving a large expense.
OF THE CANADIAN PACIFIC R A IL W A Y COMPANY— While it is probable that the time named will be extended
somewhat, substantial progress should be made in this work
FOR THE YEAR ENDED DECEMBER 31st, 1895,
during the present year, and your authority will be asked to
expend $300,000 on Capital Account for this purpose.
To the Shareholders:
13. The revival o f the Company’s general traffic, and the
A balance sheet of the affairs o f the Company at 31st
December, 1895, together with the usual statements and large increase in the cattle shipments from the Northwest,
require considerable additions to its freight car equipment.
schedules are herewith submitted.
Additional terminal facilities at Montreal and some addi­
The grone earnms* for the year were. ...............................$18,941,036 87
The working expense* w ere................................................. 11,460,085 88 tions at Toronto and other points are also necessary, and
you will be asked to approve expenditures on Capital Account
And the net earainss were..... ..................................... ....... $7,430,930 99 for these purposes, and for various working facilities and
A dd interest earned on deposits and loans..$112,246 30
improvements of permanent way aggregating $641,156.
Add Inter.due from Duluth
14. It is worthy of note that in 1895 the average number
South Shore A Atlantic
of cars (20 tons capacity) per freight train was 16-33, as
Ky. Co. on Consolidated
against 14-43 in 1890—an increase of 13 per cent. This im­
bonds held byyourComportant gain is mainly due to the improvements which have
psuy against Debenture
Stock issued....................$539,393 33
been made in Permanent Way.
Less advanced by your Com
15. During the past year, as from the beginning, your
panv................................. 148,716 67
Company has enjoyed remarkable freedom from serious ac­
------------------- 440,666 66
------------------553,912 96 cident, which is evidence at once of the excellence of your
98,033,863 95 railway and its appliances, and of the efficiency and zeal of
Deduct Filed Charges accrued during the year, includ*
its working staff.
Ing Interest on Laud Bonds, and on Consolidated
16. Lest it be assumed that the large reduction in working
Debenture Stock Issued against Duluth South
expenses for the year was made at the expanse o f the phys­
Shore A Atlantic Consolidated Bonds held by your
6,659,478 32 ical condition of the property, the Directors beg leave to say
Company (see next page.)...............................................
The surplus was ................................................... ......... 1,374,385 63 that with the single exception of the car equipment the
property of the Company was never in better condition
From this there has been charged olf the half
yearly dividend on Preference Stock:
than at the close o f the year, and that particularly in respect
2 per cent paid 1st October, 1 8 9 5 . . . . . . . . . . . . . . . .
128.480 00 of permanent way it was better than ever before. The sin­
Leaving surplus for the year....... ..................... 81,245,905 63 gle exception named was due to the postponement of some
rebuilding and heavy repairs of cars owing to the light
From this th*re has been declared a halftraffic of the first half-year; but this is now largely male
yearly (Uvtdeud on Preference Stock of
good and will be quite so within a few weeks. A consid­
2 percent payable 1st April. 1896 .......$129.490 00
erable part o f the reduction shown is only apparent, the
And a dividend on Common Stock for the
past year of 1 4 per cent payable 1st
working expenses for 1894. with which comparison is made,
April, 1896................................................... 975.000 op
having been abnormally increased by expenses and cost of
2. The working expanse* for the year amounted to 60-50 repairs due to the floods in British Columbia. The other re­
per cant of the gross earnings, and the net earnings to ductions were mainly due to the very light traffic of the
39-30 par cent, us compared with 65-75 and 31-25 per cent re­ first wn-en months of the year, and ‘to the unusually low
cost o f fuel and other supplies.
spectively in 1994.
As conveying the best possible assurance to the share­
3. The earnings per passenger per mile were 1-80 cents,
and per ton o f freight per mile 0 .90 cents, as against 1'85 holders concerning the condition of their property, the Di­
rectors quote the following extracts from the official report
and 0-87 cents respectively in 1894.
4. The earnings and working expanses o f the Montreal of Mr. Collingwood Schreiber, Deputy Minister and Chief
& Atlantic Railway, worked for the account o f that Com­ Engineer o f Railways and Canals, recently submitted to the
Dominion Parliament, and relating to his inspection of your
pany. are not included.
5. The depression in trade which prevailed at the date of railway late in 1895 will be of interest:
" l observed throughout the entire line improvements
the last annual report continued until after the middle of
the year, but since 1hat time the recovery in business has been “ which are being steadily made by the Canadian Pacific RailStratifying, and the Directors trust that the year’s results, “ way Company, giving to their road a solid and permanent
“ character.”
in view of its bad beginning, will be deemed satisfactory.
“ The damages caused to the roadway by the freshet in
6. Following is the results o f working by months:
“ the Fraser and Thompson rivers in the spring o f 1894 have
1895.
A3jr.il/iy*.
E tpesses.
Set Ramin*;*
January..........................$l,17t,o:i6 30
*824 .3 16 0 7
$1116,720 32 “ been repaired, anil the road throughout is in an excellent
February........................
992,031 Oo
793,410 56
2 0 6 ,6 2 1 0 1 “ state of e fficiency.”
March....... ...................... 1,193.250 5 «
800.972 1392,287 02 Mr. Schreiber goes on to say:
April....................
1,245,62113
793,974 60
451.619 44
Miiy.................................. 1,441,122 79
806.773 9o
544,618 so ‘ •With the heavy crops in the Northwestern section of
J une..... .......................... 1,512.86167
015,961 44
506,900 23 “ the country, a large increase in the live-stock production for
July.................................. 1.543,544 3 0
085.517 41
558,026 80“ export. the marvellously rapid development of mines in
August............................. 1.675.363 19
1.027.996 29
617,377 20“ British Columbia, and the improvement in trade which is
September............... ...... 1,8 0.307 66
1,075,852 43
714,545 23
October........................... 2,291.857 28
1,192.210 50
1,100,640 72“ visible, I am induced to believe that the future earnings of
November...................... 2,129,025 0.3
1.120.050 37
1,008,065 69“ this railway will considerably exceed those realized in the
December....................... 1.921,616 01
1,050,150 68
874.465 33 “ l>ast.”
7. At the close of the year an nn usually large proport ion
17. Four per cent Consolidated Debenture Stock was
o f the crops remained to lie moved, Insuring good earnings created and sold during the year, as follows: £116,550 (the
until another crop is harvested: ami the new vear has ojiened balance referred to in the last annual report) for equipment
with much promise, the results for the first two months and improvements, and £104,000 for the acquisition of
showing an increase over the corresponding months of 1895 £37,500 North Shore Railway five per cent bonds, and $323,«
of $<138,985 in gross, and $-276,341 in profits.
000 Duluth South Shore & At. guaranteed consolidated bonds.
8. The Company’s subsidiary lines in the Northwestern
The sum of $341,103 37 expended on Capital Account be
States, the Minneapolis St. Raul & Sault Ste Marie and yond the proceeds o f the £116,550 mentioned above was ad­
the Duluth South Shore & Atlantic railways, have partici­ vanced from thp Company’s accumulated surplus.
pated in the improvement in business. The first-named
18. The difficulties of navigation in the Columbia River
company paid its interest and other fixed charges for the made it necessary to extend the branch from Revelstoke
y eir without assistance from your Company, hut the Duluth southward an additional distance o f 13 miles, to reach Ar­
South Shore A Atlantic, owing to a prolonged strike in the row Lake, so as to afford a workable line for the rapidly iniron mines, covering the best part of the shipping season, creaing traffic of the Kootenay mining district. This, with
a spur line of four miles to reach a group of mines in the
required assistance to the extent of $148,716 67.
9. The Company’s Pacific steamships fell only $"1,000 short Slocan district, and an extension of the Columbia & Koote­
of maintaining the exceptionally large profits of 1994. The nay Railway one mile at Robson, were the only new lines
other adjuncts o f the Com)wmy's service, its Telegraph, made during the year.
19. An extension of the Montreal & Ottawa Railway for a
Sleeping Cars, Express. Lake Steamers and Grain Elevators
suffered in earnings during the first half-year, but partici­ distance of about 23 miles should be made during the pres­
ent year, and its extension to Ottawa, a further distance of
pated in the recovery later in the season.
10. During the year 287 timber bridges, aggregating 4 2-10 about 41 miles, should be made as soon as practicable, your
miles in length, were replaced by jicrmanent masonry or Company having important interests to protect as well
as a valuable traffic to gain in that direction. The imme­
steel structures, or earth embankments.
11. While by far the greater part of the original timber diate extension proposed will add less than $8,000 to your
bridge structure* have been replaced with permanent works, annual charges.
20. The land and town site sales showed no improvement
som -, including a few of an expensive character, remain,
and it Is the policy o f the Directors to proceed with their re- during the year, but the batter conditions now prevailing
dacement with a view to disposing o f all of them with n in the Canadian Northwest will doubtless attract an un­
<jur years. Tne estimated cost of these permanent replac" usual number of settlers during the coming spring and sum­
mer and bring an improvement in land sales.
ments is. for 1896. $6013)84.

g le p o v ts

a n d

d o cu m e n ts .

THE CHRONICLE.

638

21. With a view to having all lands available for imme­
diate sale when there shall be a demand for them, the can­
cellation of old land contracts of a doubtful character has
been proceeded with; but care has been taken to avoid any
hardship to persons who purchased lands for use and occu­
pation, and not for speculation, and who have, for any good
reason, been unable to make payments as they became due.
22. The position of the Company’s Land-Grant and the
sales for the past year are shown in Schedule “ D .”
23. You will be asked to approve an agreement between
your Company and the New York Central, the Michigan
Central, the Canada Southern and the Toronto Hamilton
& Buffalo Railway Companies, for the completion and joint
control of the Railway of the last-named Company, thereby
securing to your Company a very important and long-needed
connection with Hamilton, Brantford and the Niagara
Frontier. In this connection negotiations are pending for
the joint use by your Company of the Grand Trunk line be­
tween Toronto and Hamilton, with the object of rendering
unnecessary the construction of the Hamilton-Toronto
section of the T. H. & B. Ry., and there is good reason to
hope that this arrangement, which is to the interest of all
concerned, will be consummated; and in view of this you
will be asked to authorize the Directors to make such an
agreement with the Grand Trunk Company for a lease of
running powers, and other privileges, between the cities
named as may seem desirable.
24. You will be asked to approve an agreement for a lease
to the Hull Electric Company of the Aylmer Branch of your
railway extending from Hull to Aylmer, about 1% miles.
The agreement provides that the line shall be equipped and
ready for operation as an electric road on or before first July
next, whereupon a lease o f the branch to the Electric Com­
pany for the term of 35 years, at a rental of $5,000 per annum,
with due provision for protecting the interests of your Com­
pany in the exchange of traffic, is to be executed. This dis­
position of the branch line in question is believed by your
Directors to be in every way desirable.
25. The temporary arrangement made in 1890 for the
working of the Calgary & Edmonton Railway will expire on
the first of July next, and there will be submitted for your
approval an agreement between your Company and the Cal­
gary & Edmonton Railway Company, providing for the inCONDENSED

BALAN CE

j
i
i

I

terchange of traffic between the railways, and for the
operation by your Company, as Agents for the Calgary &
Edmonton Company, of their line of railway for a further
term of five years, your company assuming no financial
responsibility in connection therewith.
For the Directors.
WM. C. VAN HORNE,
President.
F IX E D C H ARGES 1895.
£7,191,500
$7,000,000
£62,100
£200,000
£200,000
$2,544,000
£4,007,381
$2,000,000
£1,330,000
£750,000

1st M ortgage Bonds 5 p. c ..............$1,749,931 06
P rovin ce o f Q u e b e c :--.....................
5
p. c. until A ugust 5 t l i )
,,,,
4 1 20 p. c. after August 5th S ' "
o^ 4,od o 90
N orth Shore 1st viortg. 5 p. c.:—
7Q mos. on £ 9 9,60 0*
4 Q mos. on £62,10 0 I .................
-0 ,7 0 2 35
Canada Central 2d Mort. 6 p. o -.
58,400 00
“
“
1st “
Sinking
F und..................................................
51,100 00
8t. Lawrence A Ottawa 4 p. c .......
38,933 34
Man. S. W. Col. Ry. 1st Mort. 5 p.c.
127,200 00
T oronto Grey & B ruce R en tal..
140,000 00
15s. 5d. O n tario& Q u ebeoD ebeu tu resSp.c.
975,129 56
Ontario & Quebec (ordinary) 6 p.c.
120,000 00
A tlantic A N orth West Ry. 1st M.,
136,333 34
less Governm ent p rop ortion .......
A lgom a Branch 5 p. e ......................
182,500 00
Rental, Farnham to Brigham J e t ..
1,400 00
Rental M attawam k'g to van coboro
23,800 00
R ental New B runsw ick Ry. system
364,959 74

4% D e b e n t u r e St o c k .
Issues for general purposes :—
1 year on £3,858,125
6 mos. on
54,050 £3,912,175
Issue for China A Japan Strs.
720,000
Issue for Souris Branch. 1,004,000
£5,636,175 $1,091,914 52
Issue fo r acquiring M ortgage
Bonds of roads o f which prin.
orin t. is guar, by C. P. R.
1 year on £3,000,000
6 mos. on
66,500
3,066,500
590,472 67
its,702,0 ■0
Interest on Land Grant B ond s............................. .................

31ST,

1895.

C A PITA L STOCK.................................................................. $65,000,000 00
FOUR P E R CENT P R EFEREN CE STOCK..................
6,424,000 00
FOUR PE R CENT CONSOL. DEBENTURE STOCK.. 42,353,018 33
M ORTGAGE BONDS.
1st Mort. bonds, 5 p. c t . . £7,191,500 $34,998,633 33
Canada Central 1st M ort­
gage, am ount o f .issue,
£5 00,000........................ $2,433,333
Sinking Fund deposited
with G overnm ent......... 1,500.000
B alance at m atu rity.............................
Canada Central 2d Mort., 6 per cent.
Due P rovin ce o f Quebec on Q. M. 0 .
& O. R ailway, at 4 Q 0 per cen t.......
Due P rovin ce o f Quebec on North
Shore R ailw ay, at 4 i2n p er c e n t ...
Algom a Branch, 1st M ort., 5 per ct..
North Shore R y., 1st M ort., 5 per c t.

$235,812,286 16

850,000 00
973,333 33
3,500,000 00
3,500,000 00
3,650,000 00
616,119 67

LAND GRANT BONDS, 1st Mortgage.
Am ount o f issue............. $25,000,000
Less—A m ount redeem ed
and ca n c e le d ............... 20,576,000
-------------------$4,424,000 00
A m ount held in trust by Dom inion
Government, n ot bearing interest.
1,000,000 00
$3,424,000 00
Land Grant Bonds 3Q per cent inter­
est guaranteed by D om inion G ov’ t 15,000,000 00
CURRENT L IA B IL IT IE S (including V ouchers and
P ay-R olls).........................................................
INTEREST ON FUNDED DEBT AND RE N TA L OF
LEASED LINES.
Coupons n ot presented, including
amounts due January 1, 1896........ $1,459,982 25
A ocrued to date, not due....................
290,143 57
CASH SUBSIDY FROM DOMINION
GO V E R N M EN T....................................
BONUSES FROM PROVINCES AND
M UNICIPALITIES..............................
LAND GRANT.—
3,791,186 acres sold, am ounting t o .
6,793,014 acres taken by Dom. Gov.
Less—Expenses, eultivaiion, rebate,
and 10 per cent on Land Grant
Bonds taken in paym ent.................
TOWN SITES.
Am ount received from sale o f Town
Sites, not covered b y Land Grant
M ortg ag e.............................................
Less — E xpenditure im provem ents,
grading, clearing, e tc ........................
Surplus receipts 1889 to 1893 ap­
plied against advances on Land
Bond interest.......................................

N o t e .—I n addition to the above assets, the Com­
pany owns 17,347,536 acres o f land.

662,165 18
$6,659,478 32

SHEET DECEM BER

COST OF ROAD.
Main Line......................................................$137,749,031 32
Lines acqu ired and held under p er­
petual leases............................................. 21,781.593 11
Branch Lines................................................
14,760,549 28
------------------------- $174,281,173 71
EQUIPMENT.
R olling S tock .............................................. $15,961,486 05
Lake and F erry Steam ers........................
1,135,874 23
Shops and M achinery (Montreal,
H ochelaga, Perth and Carleton
P la c e )....... ............................................
1,289,573 20
18,386,933 48
JA PA N AN D C H IN A STEAMSHIPS AND A P P U R ­
TENANCES.......................................................................
3,504,403 01
ACQUIRED SECURITIES HELD AGAIN ST DEBEN ­
TURE STOCK ISSUED.
Schedule “ A ” .......................................................................
20,098,210 34
O THER ACQUIRED SECURITIES.
Schedule “ B ” ........................................................ ............
2,192,161 94
R E A L ESTATE, surplus lands at and
near Montreal, available fo r sa le ..
$274,737 25
H otels and other buildings at Van­
couver, F o rt W illiam and B anff
Springs H otel, held b y Trustees for
the C om p an y.....................................
901,568 36
1,176,305 61
STEAM SHIP “ PR IN C E R U P E R T ” AND L A K E
STEAM SHIP “ A B E R D E E N ” ......................................
153,367 78
BALANCES D U E ON LA N D SOLD.
D eferred P aym ents.............................................................
2,244,378 64
BALANCES DUE ON TOWN SITES.
Deferred Paym ents.............................................................
240,891 93
ADVANCES.
To M ontreal & A tlantic
R y. secured b y $500,000 1st Mort. B o n d s On R olling S tock............ $115,018 59
Balance due b y South
Eastern Ry. assumed
by M ontreal A A tl. Ry. 309,126,21
$424,144 80
Interest to Oct. 1, 1894.
75,637 48
499,782 28
To M inneapolis St. Paul & Sault. Ste. Marie Railway,
ear trusts, e t c ....................................................................
467,817 89
To Duluth South Shore A A tlantic Ry., ear trusts, etc.
236,213 19
To Duluth South Shore & A tlantic Ry., account Du­
luth & W innipeg R y ......................................................
1,316,924 18
M A T E R IA L AND SUPPLIES ON H A N D ......................
1,532,202 07
STATION AND T R A F F IC BALANCES AND AC­
COUNTS R E C E IV A B L E ........ .............................
2,306,955 09
P R EFEREN CE STOCK HELD IN TH E TREASU RY,
£ 3 0 0 ,0 0 0 ...............................................................................
1,270,000 00
MISCELLANEOUS SECURITIES A N D ADVANCES,
Schedule “ C” .......................................................................
1,807,789 17
IM P E R IA L AND DOMINION GOVERNMENTS,
am ounts due fo r m ail transportation and on account
work in B ritish C olum bia.................................................
140,262 73
CASH TN B A N K ................................................................
3,956,513 12

[VOL. L X IL

48,088,086

33

18,424,000 0 0
2,375,301 94

1,750,125 82
25,000,000 00
1,171,989 26
26,171,989 26
J 2,238,144 74
10,189,521 00
22,427,665 74
2,634,321 97
19,793,343 77

2,791,450 85
740,310 22
2,051,140 63

680,055 56
1,371,085
ADJUSTM ENT OF INTEREST ON M ONTREAL &
A TLAN TIC RY. ADV A N C ES.........................................
75.637
SURPLUS EARNINGS ACCOUN T..................................
3,985,698
$235,812,286

07
46
18
16

I. G. OGDEN, Comptroller.

THE CHRONICLE.

A pril 4, 1896.]

639

S C H E D U L E “ A .”
S C H E D U L E “ E .”
CON STRUCTION-ACQUIRED AND BRANCH LINES.
DETA ILS OF BALANCE SHEET ITEM—‘ •ACQUIRED SECURI­
Revelstoke & A rrow Lake B ranch......................................... $135,235 50
TIES H ELD A G A IN ST DEBEN TU RE STOCK ISSUED.”
& Slocan Branch, spurs and sidings to m ines.........
90,141 54
A tlantic A North-West B y., 5 p. c. Guaranteed S tock........$3,240,000 00 Nakusp
Crows Nest Pass Line, surveys.....................................
6 458 06
Columbia A K ootenay B y.. 4 p. e. First M ortgage B onds.
693,500 00 Lake
Temiseammgue
Col.
R
y
...............................................
116,680
20
M anitoba South-Western Colomaation Ry., o (>. e. First
Prelim inary survey o f projected lin es.............................
3,297 69
M ortgage B on d s............................................................................
72,000 00
North Shore- P,r., 5 p. e. First Mortgage B on d s....... ..........
313,900 00
Total for construction o f Branch L in es,..........................$351,812 99
Duluth South Shore A A tlantic Ry.—
Four p. e. Consolidated M ortgage, guaranteed......................14,923,000 00
--------- ~ ~ — i
S C H E D U L E « E .”
Incom e certificates...................................................................... 3,000,000 00
Preferred Stock (constituting a m ajority)............................. 5,100,000 00DETAILS OF (EXPENDITURE ON ADDITIONS AND IM PROVE­
MENTS DU RIN G 1895.
Ordinary Stock (constituting a m ajority)............................. 6,100,000 00
M inneapolis St- Paul & Ste. Marie R y.—
Main Line.
Preferred Stock (constituting a m a jo r ity )............................ 3,533,400 00
Q u e b e c to C a l l a x d k k .
Ordinary S tock (constituting a m ajority)....... ................ 7,066,600 00
Souris Branch. First M ortgage Bonds, £4 00 ,0 0 0 ..................... 1,946,666 67 Additional sidings.................................................... $1,961 65
6,002 60
Pacific Steamship, First M ortgage Bonds, £ 7 20,0 00............. 3,504,000 00Additional buildings, stations and y a rd s..........
H eavy rails and fastenings, less credit fo r
lighter rails rem oved............... , ..........................
7 ,1 7 6 1 9
S C H E D U L E ‘ ‘ I I .”
Widening cuttings, embankments, filling
DETAILS OF BALANCE SHEET I T E M - " OTHER ACQUIRED SE­
trestles............ ........................................................
400 00
Pei manent bridges.................................................. 15,352 95
CURITIES,
Additional fen cin g ...................................................
313 66
M o n tr e a l & O m u i R . u u m B o n d s—
Increased iucoininodation Outremont y a rd ___ 5,830 89
(Acquired from proceeds o f Preference
Montreal East End Station............ ......................
447 62
Stock issued in 1 8 93)....................................$400,000 0(1
Callander to Fort W illiam .
A t l a n t ic & N o r t h w e s t R a h . w a y B o n d .— .
Additional sid in g s....................
$170 93
Heavy rails and fastenings, less credit for
EganriUe Branch.
(Acquired from proceeds o f Preference
lighter rails rem oved ............................................ 3,115 35
S tock ,................................................................ 302,400 00
Additional buildings, stations and yards..........
1,480 32
2 70
$703,-100 00 R ight o f w ay and perfection o f title.....................
H ontsxal & A tlantic Ra il w a y Stock —
Widening cuttings,
embankments,
tilling
trestles..................................................................... 12,689 03
21,600 shares, $2,160,000 00 (coat)..................... .............. 1,489,781 94
Permanent bridges..................................................
1,443 49
(F o r m e r ly S o u th E a s te r n R a ilw a y .)
Poi t A rtl ! elevator.................................
4,555 70
$2,193,161 94
S C H E D U L E “ C .B
D E T A IL -

BALANCE
SHEET ITEM ' MISCELLANEOUS
SECURITIES AND ADVAN CES."
Pacific postal T klb4 kapk Cable Comva>'t ‘8 Stock
(c o s ti............................................. ..................................... $400,000 00
(Pacific Coast system. W ashington, Oregon. California.
Stock represents half Internet. Ottier h alf ow ned in
interest o f the Postal Telegraph Cable Co. o f the
United State* and the O n u u t e u l Cable Co.)
M

OF

in n e a p o l is

St . P

aul

*

S tC L T STB. M u u t ; R a

il w a t

C o.—Incom e certificate* (east).............. ...................
(Acquired in connection with the controllin g interest
In the stock o f that Company.)
C hateau P kuytena C (QtritBee H o r n .) S tock..............
OBtortaken In the general lettered o f the Com pany In
conn ection with the acquisition o f the North Shore
Railway (the Company'* liar between M ontreal and
Quebec) and in cottoecHon with the cancellation o f a
contingent liability o f $1,109,028 thereon.
C anada X o j t i W f W L and C o.. Stock (cu rt...................
(Taken by Oil* Company in 1992, a* one o f the term* o f
the sale o f 3.290,000 acrv* o f land to the C.N. W.Ld.Ce.)
KtaOAStv Bttinor. it R e n Es t a t e .....................................
(A cquired in 1890, with a view to rtten sion o f line
from W oodstock and Hamilton to Niagara Fall*,)
D ominion E spbr — Compant ** Stock ............................
Thi» Company ’s Express, the stock o f which Is all held
In the Treasury. Am ount paid up represents cost o f
original equipm ent and organisation.
lS'OR»N( n PtuunCMs P a c e aid ru n 1896.........„ .........
(On contract t « secure advantageous terms.)
Socrtu O ntario o P a c if ic R a il w a y .9cock ............ .
(This C om pany's orgauLnU on for line, W oodstock
Hamilton it Niagara Falls.)
M iscellaneous t e c r u m t - and A d v a n c e -. ...................

270,000 00
200,000 00

518,087 27
97.163 52
113,75000

81,476 63
20,000 00
127.30975
$1,807,789 17

SCH EDU LE
S

“ D .” —LANDS.

ales—

Canadian Pacific Land G ran t.. 1895
1894
M a n . South Western G rant___1895
1804
T otal sa les........................... 1805
1804

Acres.

Amount
r e a l wed.

Average*
per acre.

55,453
43,155
5,023
0,312
01,070

0176,050
131.028
23,330
28,003
109,280
159,831

$3 10
3 05
3 97
4 44
3 26Q
3 23

4 9 ,4 6 7

POfttTXOX O F LAJKI.Y OK A.STS A T
C a n a d ia n

31, 3895.

Arret.

P a c if ic —

G rant........................................
Surrendered M Governm ent under
o f M ar
30th. 1 8 9 0 .........................

Acres.

O rig in a l

S o u r is

Sale*

6,793,01 l
18,206,986
1,011,520

19.818,506
3 1 s t . I . 8 9 S ......................... .. ..3.990,73 V
00.5 48
cancelled i n 1 9 9 5 ..................... . ..
3,791,186
............... 16,027,320

Quantity o f land u n s o ld ... . . . . . . .
M

a n it o b a

Bo c t h W

esters

Acre*.
1,396,800

—

T o t a l d r a o t . . ........ ............ . . ............... ..
..
B a l e s to J>* < . Bt s t , ! 8 0 5 ._____ . . . . . .
* Lem c a n c e l l e d i n 1 8 9 5 . .........................

....3 0 2 ,6 1 0
. . . . 36,020

Q u a n t i t y o f S a n d u n s o l d ......... ..

Total on Main Line.

192,091 26

Branch Lines.
$2,620 05
South Western B ra n ch .......... ............ .
5 00
Emerson B ra n ch ...................................
126 91
Selkirk B r a n c h ..................................... .
52 82
Stonewall Branch ............... ...............
178 53
Stobie Branch........................................
Souris Branch—
Right, o f w ay — ............................... $1,147 84
205 76
Additional Fencing...........................
B uildings,stations and yards........
1,195 96
W idening embankments, surfacing
- and ballasting................................ 15,746 83
By rail* account................................
Algoma B r a n c h Additional fe n cin g ...........................
Widening cuttings, embankments
and filling trestles..........................
Additional sidings.............................
Substitution o f heavy rails and
fastenings........................................

18,296 39
562 09

17,734 30

$211 35
3,577 40
2,874 71
65 99

6,545 22
--------------- -

27,263 43

T o ta l.......... ...................................................................... $219,354 69

to D ee

* L e o .*

$-13,806 91
Less—A m ount received from Dom inion G overn­
ment. rebate o f duty on Bridge m aterial......... 12,790 39
T
---------------31,016 52
D onald to Pacific Coast .
Widening embankments and filling trestles____ 1 4.341 20
Right or way and p erfection o f title.................. 18,441 20
Additional sidings.................................................... 2,381 60
Permanent bridges.....................
302 01
Im proving water su pply........................................
750 00
Permanent bridges, (tiling trestles
and other im provements on G ov­
ernment section.............................. $169,388 06
Less—A m ount received from D o­
minion <b' verniilent under award, 42,172 96
—--------------127,215 10
I,e««—Amount received from Dominion Govern­
ment. rebate o f dutv on Bridge m aterial......... 51,626 39
---------------- 111,804 72

$6,729 45
B y right o f w ay ................................
184 23
------—— —

agreem en t

Branch Land g ran ts.................

$23,457 52
Less (—Am ount received from D om inion G ov­
ernment. rehate o f duty on Bridge m aterial.. 11,672 06
— ------------ $11,785 46
Fort W illlam to Donald .
Permanent bridges..................................................
$128 44
Right o f way and perfection o f title ...................
98 25
Additional sidings....................................................
8,370 94
Additional fe n c in g ..................................................
1,800 74
H eavy rails anil fastenings, less credit for
lighter rails rem oved........................................... 13,649 01
8,952 35
Additional buildings, stations and y a r d s ..........
Widening embankments, filling trestles............ 7,936 88
Elevators at Fort W illia m .....................................
953 59
Extending trestle fo r coal-handling machine at
Fort W illiam........................................................... 2,116 71

Acres.

260,584
1 , 1 3 0 ,2 1 6

S C H E D U L E »• «.’ *
DETAILS OF EXPEN DITU RES ON LEASED LINES DURING 1895
O n t a r io & Q u e b e c R a ilw a y .
Substitution o f heavy rails and fastenings, less
$580 85
credit fo r lighter rails re m ov ed ........................
273 58
Permanent bridges.................... .............................
390 00
Im proving water supply......................... - .............
Additional sidings.................................................... 1.640 24
Additional stations and buildings........................ 3.269 25
3,889 48
Right of way and perfection of title..................
R eal Estate, M ontreal............................................. 2,672 61

$12,716 01
Term inals at T o ro n to :
.
Union station........................................ $8.lAf> 18
4,000 00
T ots, land ow ned by the C om pany...................... - .............. 17,347,536 Brock Street Ju nction.......................
A ccount alternative s i t e .................. 3,298 37
Queen Street East S tation.................
65 39
• Ot the land, prevtoasly recovered by the Company from cancella­ T oronto real estate.............................. 12,756 28
28,235 22
tion o f sales 16,501. acres wore re-sold during the year at practically
$40,951 23
the same price at wbleh they were surrendered.
C tlr o s u

* K o o ten ai Lund Grant unsold........

1 9 0 ,0 0 0

640

THE CHRONICLE.

Brought forw a rd ...................................................... .....................

$40,95/ 23

A tl a n t ic <fe N o r t h W est R a il w a y .

Widening cuttings,
embankments, filling
trestles................................... ; ; ...............................$59,946 28
4,725 44
Additional stations, buildings and yards..........
Additional sidings..................................................... 2,245 21
Right of wa\ and perfection of title................... 30,047 19
Heavy rails and fastenings, less credit for
lighter rails removed............................................
3,209 51
4,428 04
Waterloo & Magog Ry. purchase.........................
Eganville Branch (construction, completion).. 5,192 49

P assen gers.
F reigh t........

61

E X P E N D IT U R E S

03
54
46

1895.

RECEIPTS.
Cash and Treasury assets on hand Dec.
31st, 1894......................................................
$2,024,360 75
Surplus revenue as per statem- nt..............$1,245,905 63
Real Estate—
Proceeds o f sales............................................
5,604 23
Bonuses—
Dom inion and P rovincial G overnm ent
subsidy on LakeTem iscam ingue Col. Ry.
16,014 45
Consolidated Debenture Stock, 4 p e r cent—
A m ount issued^ fo r acquiring
guarat teed securities............... £104,000
F or Capital E xpenditure............ 116,550
£220,550 1,073,343 33
Steamship “ P rince R u pert” —
A m ounts received on accoun t o f sale o f
steam ship and equipm ent..........................
100,931 18
Balance on Town Site Sales —
Am ounts collected from deferred paym ’ ts
3,744 59
---------------------- 2,445,543 41
Add—
Station and traffic balances and accounts
receivable......................... ............................ $2,306,955 09
M iscellaneous Securities and A d va n ces... 1,807,789 17

$4,469,904 16

$4,114,744 26
A m ount at Dec. 31st, 1894.$5,338,051 81
Less, transferred to Ad­
vances to Montreal
A t­
lantic Ry. as per Balance
Sheet.....................................
309,126 21
----------------------- 5,028,925 60
---- :---------------- 914,181 34
$5,384,085 50
EXPEN DITU RES.
Interest on funded debt and rentals o f
leased lines due January 1st, 1895, and
accrued to that date, and dividend on
Preference Stock accrued to January 1st.
1895................................................................
$1,904,050
Construction branch lines (Schedule “ E” )
351,812
Additious and im provem ents m ain line
and brauches (Schedule “ E” ) . . . ..............
219,354
Additious and irui>rovements leased lines
(Schedule “ G” ).................. ............ .............
167,825
Rolling stock, shops and m achinery.........
169,379
Hotels and other buildings at Vancouver
and other points, held in tru st.................
19,989
L an d Department.
Proceeds o f land sales.................................... $180,735 62
Less E xpenditures.........................................
65,609 39
Less: Land Grant B onds canceled............

$115,126 23
2,000 00

C ollection o f deferred p aym en ts...............

$113,126 23
146,^23 26

L ess: Cancelation o f previous sales..........

$259,949 49
280,266 67

79
99
69

08

65,270 62
52,448 31

182,500 00
323,000 00
505,500 00
48,123 15

R eduction in Current Liabilities.

$3,419,175 88
381,740 41

D ed uct: Material on hand, decrease
. ,, m
_
A dd Treasury assets Decem ber 31st, 1895.
Am ounts due from Im perial and D om inion
G overnm ents................................................

3,956,513 12

18
66
46
18

1890.
$
4,774,713
10,100.644
356,038
200,268

00
34
32
70

1891.
$
76 5,459,789 46
02 12,065,540 26
61
516,098 45
43
288,633 25

187,694 13

239,103 14

268,096 76

303,545 09

682,052 99

847,190 93

786,707 40

1,007,489 47

Net earn’gs.

3,870,774 92

6,127.836 16

6,299,700 51

8,009,659 87

1892.

1893.

1894.

1895.

$
$
$
$
Passengers. 5,556,316 40 5,650,204 90 4,840,412 33 4,683,137 74
F reig h t....... 13,330,5 10 19 12,073,075 38 11,445,377 78 11,877,851 95
483,922 58
490,134 49
498,129 16
540,116 18
E xpress.......
302,259 34
333,975 39
342,472 29
387,605 93
P ’l’r& sleep­
331,202 73
ing c a r s ...
380,470 10
331,719 69
302,637 63
Teleg., grain
elevat’rs &
miseellan.,
iuc. profits
on Pacific
st’mships.. 1,405,110 53 1,422,457 18 1,294,056 46 1,149,687 44
T o ta l.... 21,409,351 77 20,962,317 44 18,752,167 71 18,941,036 87
E x pen ses... 12,989,004 21 13,220,901 39 12,328,858 63 11,460,085 88
Net earn’gs.

8,420,347 56

7,741,416 05

6,423,309 08

7,480.950 99

DESCRIPTION OF F R EIG H T C A R R IE D DU RIN G TH E Y E A R .
1893.
Flour, bbls..........................
2,514,163
Grain, bushs.....................
23,639,715
L ive Stock, head..............
332,589
Lumber, feet..................... 668,176.926
Wood (Fuel), cord s..........
170,294
Manuf’c’d Articles, tons.
1,114.195
A llO d ier Articles,
“
978,193

1894.
2,439,418
25,314,827
468,218
545,488,960
174,020
968,352
864,615

1895.
2,832,304
27,628,593
562,135
63 8 .8 0 -.3 7 4
177,032
1,050,014
930,101

F R E IG H T T R A F F IC .
1893.
1894.
Number o f Tons carried.
4,226,959
3,891,804
No. Tons carried 1 mile..1,453,367,263 1,313,948,410
Earnings p er Ton p. mile. 0*87 cents.
0*87 cents.

1895.
4,27 4.667
1,490.639,847
0*80 cents.

PASSENGER T R A F F IC .
1893.
1894.
3,311,247
3,009,015
334,307,590 260,804,129
1*69 cents.
1*85 cents.

1895.
2,9*3,793
260,317,256
1*80 cents.

Number Pass’g’rs carrie 1
Vo. Pass’g’rs carr’d l mil©
Earn’gs per Pass, per mile

STATEMENT OF EARNING S FOR TH E Y E A R 1895.
From Passengers..........................................................................$4,683,137
“ F re ig h t..............
11,877.851
“ M ail*.....................................................................................
540,116
“ Express ......... ...................................................................
387,605
“ Parlor an l sleeping Cars................................
302,637
“
Telegraph, Gra n Elevators and M iscellaneous, in­
cluding profit on Pacific Steam ships............ ........ 1,149,687

74
95
18
93
63
44

$18,941,036 87
STATEMENT OF W ORKING EXPENSES F O R TH E Y E 4 R 1895.
Conducting Transportation................................................... $2,884,191 18
Maintenance o f Way and truotures..................................
2,659,733 89
3,614,109 16
M otive Pow er............................................................................
M aintenance o f Cars...............................................................
710,997 12
Parlor and S eeping Car E xpen ses......................................
68,015 68
Expenses o f Lake Steamers..................................................
l'<3,877 06
General E xpenses....................................................................
1,086,900 45
Commercial Telegraph............................................................
302.261 34
$11,460,085 88

12,822 31
Guaranteed Securities acquired by Sale o f
4% Debenture Stock.
North Shore Ry., 1st M ortgage 5% Bond*,
£ 3 7 ,5 0 0 .........................................................
Duluth South Shore & A tlantic Ry. 4%
Consolidated B onds....................................

1839.
„ $
4,623,474
9,057,719
354.044
247,606

87
82

20,317 18
Town Sites.
Town sites, expenditure for clearing, im ­
provem ents, e t c ...........................................
L ess: Proceeds o f sa les................................

E xpress.......
P T r & sleep­
ing c a r s ...
Teleg., grain
elovat’ rs &
miseellan.,
ine. profits
on Pacific
st’m ship s.

$
3,800,883
8,017.313
263.344
244,247

T otal___ 13,195,535 00 15,- 69,138 43 16,552,528 98 20,24! ,095 98
E x p en ses... 9,324,700 68 9,241,302 27 10,252,828 47 12,231,436 11

T otal...........................................................................................$167,825 87
AND

COM PARATIVE STATEMENT OF EARNINGS A N D EXPENSES
FOR TH E Y E A R S 1888 TO 1895, INCLUSIVE.
1338.

$109,794 16
Less: Miss. & Black River Ry. purchase (ac­
count rails taken up)............................................
306 55
----------------- $109,487
M anitoba South W estern Col . R y .
Additional stations and buildings........................
$150 04
Right of way and perfection of title....................
35 00
Additional fencing...................................................
1,147 29
266 64
Widening cuttings, embankments......................
Additional sidings..................................................... 1,730 06
---------------3,329
Columbia & K ootenay R a il w a y ........................................
8,709
M ontreal & Ottawa R a il w a y ..............................................
5,348

R E C E IP T S

[V ol. LXI1.

$3,037,435 47

STATEMENT OF EQUIPMENT A T DECEM BER 31ST, 1895.
L ocom otives.............................................................................................
584
First and second class Passenger cars, Baggage cars, and
576
Colonist sleeping cars.........................................................................
99
Fir^t class sleeping and dining cars...................................................
30
Parlor cars. Official ai d Paym asters’ cars.......................................
14,890
Freight and cattle cars (all k in d s ).....................................................
297
C onductors’ v a n s.....................................................................................
533
Board. Tool and Auxiliary Cars and Steam sh ovels......................
Lake Steamers, *'Alberta,” “ Athabasca,” “ Manitoba,” “ A ber­
deen.” Ferry Steamers, “ Ontario,” “ M ichigan.” Pacific
Steamships,
Empress o f China,” “ Empress o f Japan,”
“ Empress o f India.”
TR A F F IC T R A IN M ILE A G E Y E A R 1895.
Mileage.
Passenger............................. 5,719,118
F r e ig h t ................................ 7,625,462

Earnings.
$5,849,705 81
11,671,347 53

E arnings p er
Traffic Train
Mile.
$102
1 53

T otal...............................13,344,580

$17,521,053 34

$131

140,262 73

_
$4,096,775 85
L oss: A m ount o f accrued fixed charges.. 1,750,125 82
---------------------- 2,346,650 03

The above earnings for traffic trains include earnings from
Mails, Express and Sleeping Cars, but do not include Lake
$5,384,085 50 ! Steamers, Telegraph, Elevators, Rents, &c., the net profits
* from which amounted to $983,845 13.

THE CHRONICLE,

A p r il 4 , 1896.]

REORGANIZATION PLAN
OF THE

NORFOLK

&

WE ST E RN

RAILROAD

CO.

D a t e d M a r c h 13, 1896.
LOUIS FITZG E R A LD .
Chairman,

J. KENNEDY TOD,
GEORGE COPPELL,

A. A. H. BOISSEYAIN,
ROBERT FLEMING,
C. SLIGO DE POTHONIER.
n . F. K. HCBRECHT,

.Sew York E xteu tite Reorganization Committee.

TVS, E. GLYN ,
Secretary.
SEW AKD. G U TH RIE, MORA WET'/, & STEELE.
Counsel,

641

O n th e oth e r h an d , th e total fixed and contingent charges
ahead o f th e n e w C om m on S to ck w ill a m ou n t to a b o u t §3,150,000. T he n ew C o m m o n 'S to ck is, th erefore, n earer a d iv ­
id en d th a n th e O ld P r e fe rre d S tock ,
In ord er th a t p rom p t reorga n iza tion m a y result, a ll s ecu r­
it y h old ers are requ ested t o dep osit th eir secu rities, as p r o ­
v id e d u n d er th e P lan , a t th e earliest possible date. All bonds

and stocks must be deposited not later than April 30th next,
and depositing stockholders must p a y the first instalment o f
$4 per share at the time o f deposit.
S e cu rity h old ers w h o fa il t o dep osit th eir secu rities on or
b e fo r e th a t date w ill n o t b e e n titled t o dep osit th e sam e or
a cq u ire a n y righ ts u n d er th e P lan , e x ce p t in th e d iscretion
o f th e N e w Y o r k E x e cu tiv e R eorga n iza tion C om m ittee, and
on su ch term s as it m a y prescribe.
N e w Y o r k , M arch 12th. 1896,
L O U IS F IT Z G E R A L D ,
J. K E N N E D Y TOD,
GEORGE COPPELL,
H . F. R . H U B R E C H T ,
A . A . H . B O IS S E V A IN ,
R O B E R T FL E M IN G .
C. S L IG O B e P O T H O N IE R ,
N ew Y o rk E x e cu tiv e R eorg a n iza tion C om m ittee.

To the Security- H olders:
The Plan o f Reorganization herewith subm itted has been
prepared by the above-nam ed Com m ittees after carefully
in vestigatin g the position o f the Com pany; and the New
Y o rk E xecutive Reorganization Com mittee, at the request
o f the London and Am sterdam Com m ittees, has undertaken
to act in practically carryin g the Plan in to effect, as pro­ TABLE OF EXISTING SECURITIES AND SECURITIES PROPOSED
TO BE ISSUED BY THE NEW COMPANY.
vided in the reorganization" agreement.
E xisting Issues,
Divisional Lien Bonds....................... .........
General '*ortgngo..........................1931 6s.
New River 1st*..............................4938 6s.
Inj[trovtmnc,t ami Extension___1934 6*.
Scioto
Valley & X. E......................1989 4-.
The main causes w hich led to the financial embarrassment Colmubns
Conn. A Term.............. 1922 Ti*.
o f the Com pany were the follow in g:
" A-Uustmetit Mortgage.......................... 7s.
7
l<W-Year
Mortem;--............................5s.
1,
The recentiy-constrncted extensions, the full earning

The accounts of the Company for the three years ending
December St. 1894, were examined, at the instance o f the
committees, by Messrs. Price, Waterhouse & Co., the wellknown accountants, and their report has been made public.

»a parity o f w hich could not be developed in so short a time.
3. The general depression w hich resulted in the reduction
o f rates, especially those for the transportation o f coal.
3. The heavy payments on principal o f Car Trusts, which,
as a matter o f necessity, had to be provided for to a large
exten t out o f revenue, there being n o other means o f paying
the same.
It is believed that, under the present Plan, the new Com­
pany w ill be placed upon a sound financial basis. The fixed
charges w ill be m in c e d from 83,314,637 p r annum to $3,23*1,444, a reduction o f $9*3,393 jn r annum ; the floating debt
and the interest in arrears on the undisturbed bonds will be
liquidated; the Car Trusts w hich have constituted so onerous
a burden on the present Com pany w ill be taken up; and the
new Company will be provided with a reserve to meet future
capital requirements for the im provem ent o f the property.
To** new 4 per cen t First Consolidated Mortgage Gold
Bonds w ill (su bject to a possible small Prior Lien w hich may
he issue I only in case o f u rg en cy >be a first m ortgage on a
large ja r t o f the system, viz., upon 848 miles o f railroad:
upon im portant term inals at Norf fjiik and Lamberts P o in t;
upon the Ohio River Bridge and the Roanoke Machine
W o r k s; best L--. being a consolidated Mortgage upon the
rem ainder o f the system, su bject to th - undisturbed liens.
They w ill b e further secured by the equipm ent, certified to
have cost over $11,000,00*1, covered by tin- Car Trusts and
Equipment Bonds t<> be purchased or taken up as provided
fo r in the plan.
The new 4 per oent .kdjastment Preferred Shock will be
limits I to the- amount required for distribution among the

prevtit bondholders, and in fair years dividends should be
earned thereon.
Mites.

Gross.

Set.

T he earning* fo r the t 2 month*
nOiI’ ug Pe>», 2S4, IS 96 eliding
Crtrmg the roreivet ■ftitipnam:
1,576 $10,006,000 •$2,395,000
Anil eo Apart with tie i-prm 'W m
•2,978.800
10,611.030
5 e a l e o k r years as (a llow *: 1861.1,567
2.811.971
1303 1,556
10/255,201
3,015,214
13 6 2 .! ,30$
10,112,171
9,188.01-2
3,331,9.0
xm i'ifm
2.957.221
7,561,915
1806, 826

•Tills i«r

emhrases a prolonged co a t strike, which rained a loss

r Clinch Valle.'’ OivHion........................... 5s.

■ Maryland & Washington...... .............. 5s.
• Equipment Mortgage o l 1838............. 5s.
II Debentures of 1693 ............................. 5s.
■ Roanoke & Southern..... .......................5s.
V Lynchburg & Durham..................... ...5 s.
*1Cur trust*..................................... 5s & 6s.

E x is tin g F ix ed Cliurges* ...........

Principal,
Fixed Tut.
$3,505,200
$210,557
7,2^3,000
436,980
120.000
2,000,000
5.000.
000 300.000
5.000.
000 200.000
600,000
30.000
1.500.000
105.000
15,065*000
753,250
2.500.000
125.000
7.050.000
352,500
4.114.000
205,700
430,000
21.500
2.0
11,000 102.050
1,530,000
76.500
3,125,000*
oa. 175,000
............

Undisturbed

issues.

$3,505,200
7,283,000
Genera! M ortgage...............................1931Us.
Xuw R iver 1st* .......................
1932 Os. 2.000,000
5,000,000
Im provem ent and E xtension....... 1934 0s.
5,000,000
Scioto Valter & S. E ...........................1947 4s.
000,000
Columbus Conn. A T o il........ .........1922 5a.
P[to posed I ssues.
First Con. M. 4 p. e, G old Benda, duo 1990

$210,557
436,980
120,000
300,000
200,000
30,000

23,322,075

932,907

............ $ 2 ,2 3 0 ,4 4 4
P r o p o s e d F i x e d i T i a r s e s .............
1 per rent Adjustment Preferred S tock_$23,000,000
Common S tock................. ............................... 06,000,000
■The principal sum Is p ayable by quarterly or monthly instalments
tailing due from 1 s-.KI to 1903.
- E xclusive of sinking F unds, Rentals and interest on floating debt.
• S ew llrst Is are to be Issued for these.

PLAN OF REORGANIZATION.
UNDISTURBED S E C U R IT IE S !

It is proposed to leave the following bonds undisturbed :
D iriiio m l Torn Bonds, scoured by m ortgages prior to the
General M u-tga-ge of 1481. nnvmntirig to ------- ------------ $3,505,200
if. It H. Co. General Mortgage Six Per Oent Bonds o f
1841. m aturing May 1st, 1931.............................................
7,283,000
X.
IT. HR. Co. Xeitf Hiper Division, Hirst Mortgage Six
Per Cent Don’t:s. m aturing April l^*:. 1932...................... .
2,000,000
,V, ,{- W. RR. Co. Improrsment a ml Extension Mortgage Six
Per Gr-nX Bonds, m aturing Feb- nary 1st, 1 9 3 4 .......----5,000,00©
Scioto Valley <£ X*tn Bnyland Railroad Company First
MoH ta w F ou r Per Cent Bonds, maturing November 1st,
i* i.o.
.................... ....................................... ................
5,000,00®
Columbus Connecting & Terminal Railroad Company
FC-c Per Gent B m ds, maturing January 1st, 1922.........
600,000
$23,383,200
_ _ _ _

o f Over $100,000 In net earnings.

It will b ■*--;a from the above figures that, should the net
earnings o f the Company again equal thosj o f ->m • pre­
vious years Iwhen the mileage was much lesM, they will
provi Is not only for the interest on the new four per cent
B>ni-t bu also for a dividend in full on t h • proposed adjustm ent preferred stock.
u* holder o f each f t 09 share o f existing
Preferred Steak will, up in pavurent o f 13 dollar- in instalnimt*. tin -dated in the Plan, f.e- -ive 112'S dollars in
New Common Stock of the reorganized Company;
The hoi h-r o f each 109-dollar Share of existing Common
Stork wilt, upon payment o f l$'-£ dollar-, in initalruants, as
state t in the P in . r- wiv- 75 i dlars of n
O j.m iin Stock
o f the reorganize 1 Company.
Attention is called to the fast that the annual charges
under th •Plan ahead o f the new Comm m Stock will be
smaller than flrej •uhe ti of th - Preferre 1 S'>.3k o f the pres­
ent Company, Ac soriling to the Company's rep irt for 1891,
haing th ; last before the Receivership, tlv total charges for
Interest, rentals and sinking fund am mate 1 to about I V
409,534; whilst- payments on account of principal of Car
Trusts w-Kitd for the next eight years have absorbed an av­
erage of about $433(600 par annum* making a total annual
•charge of about $3,825,000 ahead of the Old Preferred Stock.

$ 3 ,2 1 4 ,0 3 T

Preferred........................................................ $50,000,000
Common Stock (tool. R. & S. and L. & D.).. 13,772,800

DISTURBED SECURITIES.

The follow ing b on is and stocks in a y jb s deposited on tne
terms hereinafter provided :
N o r f o l k Sc W e s t e r n R

v il r o a d

C o . XIHA-

Adjustment Mortgage Steen Per Gent Bonds......... ..............
One-Uamlre t-Year Mortgage- Bonds, of which there are
outstanding (exclusive of $114,000 In treasury and
$1,127.000 pledged by the Company to secure loans) ..
Clinch Valley Division Fire Per Gent Bonds, o f Which
there are outstanding (exclusive of $ 220,000 o f said
bonds deposited with the Trustee under the One Him(1red-Ye -r M - r l .....................................
........
M aryland & Washington Division Free Per Genii Bonds, ot
wliteii there are outstanding (exclusive of $330,000
pledged by the Company to secure loans) — .. . Equipment Mortgage Pice Per Gent B aids o f 1833, of
which there remain outstanding (exclusive o f $36,000
in the treasury) .
................. ............ - ..................
•••
P i'-r P e r

n ,i,l

l e b i i U i m s o f l S A i .........................................

$1,500,060
__ _
_
1 d,03 o,000

2,500,000
_ _„ _
n
7 ,0 o0,000
....
44 1 M 2 2

*a S

K

Preferred- S'o'-k..........................................................................., 50,000,000
C o;,,non m od; (inolnsiva ot $149,100 in treasury and
$105,101 held by trustee o f O ne-H uudred-lear Mortgag©)............................................................................................
9,500,000

ROANOKB a SOOTHKKS RAILWAY COMPANY,
Eire Per Cent First Hortgog* Bowls, ot which there are
outstanding.......................... ..................... — .........-........ .
$2,041,000
Capital S'onk, o f whirl; there I* outstanding (excluding
$1,8-12,800 owned by the Norfolk & Western HR. G o.)...
55 ,6o0

642

THE CHRONICLE.

L ynchburg & D urham R ailroad Company .
Five P er Cent First Mortgage Bonds, o f which there are
outstanding (exclusive o f $482,000 owned or claim ed
hy the Norfolk & W estern RR . C o.)....................................... $1,530,000
Capital Stock, o f w hich there is outstanding, excluding
$1,163,000 ow ned b y the N orfolk & W estern RR. C o___
713,350
There are also certain Car Trust Obligations (not, in­
cluding the Equipm ent M ortgage Bonds o f 1888 m en­
tioned above) am ounting as o f February 1 ,1 8 0 6 , to —
$3,125,000
NEW SECURITIES.

A new railroad company wall be organized, and the prop­
erties and equipment acquired by or on behalf o f the New
York Executive Reorganization Committee (herein called
“ the Committee” ) at foreclosure sale or otherwise will be
vested in the new company, subject to any undisturbed
liens thereon, and provision will be made for the creation
of the following new securities:
I—F irst Co n s o l id a t e M ortgage F our P er Cent G old B onds.

Authorized issue..........................................................$62,500,000
Principal payable October 1st, 1996. Interest to accrue
from October 1st, 1896, and to be payable semi-annually,
April 1st and October 1st.
These bonds are to be secured by a mortgage covering all
properties and equipment which shall be vested in the new
company, as above provided, and also all other property
which shall be acquired thereafter by the issue and use
of any of the new bonds.
The new bonds are to be issued and used as follows:
A. $23,322,675 to be used to provide for the disturbed
bonds of the present company and to carry out the plan.
B. $25,986,889 to be reserved for the purpose o f taking up
or paying the undisturbed bonds.
C. $3,500,000 to be reserved or deposited in trust, subject
to suitable restrictions, for the purpose of taking up or pay­
ing any existing obligations which shall not be taken up or
paid out of funds received by the Committee, and for other
necessary purposes of the new company.
D. $9,690,436 to be reserved for the construction or acqui­
sition o f side-tracks, second tracks, brandies-and equip­
ment, and for other improvements and additions to the
property covered by the First' Consolidated Mortgage, and
for other requirements of the new Company; but such
bonds are to be issued only subject to suitable restrictions
to be prescribed in the mortgage securing the same, and at
a rate not exceeding $1,000,000 for each fiscal year after
June 30, 1896 (the first fiscal year being that ending June
30, 1897); it being understood that any portion of such
$1,000,000 of bonds remaining unissued in any one fiscal
year may be added to the amount which may be issued in
subsequent years.
As a safeguard against unforeseen contingencies which
might render it impracticable to sell at a fair price the
$3,500,000 new First Consolidated Mortgage Bonds reserved
under clause C above, provision will be made, in the First
Consolidated Mortgage for the issue of an amount not ex­
ceeding $3,500,000 gold or £700,000 sterling, of Fifty-Year
Four Per Cent Prior Bonds, redeemable by drawings at 105
per cent and accrued interest upon at least three months'
previous notice of redemption, ov- hy .purchase at a lower
price, and secured by a mortgage or lien prior and superior
to that of the First Consolidated Mortgage Bonds and cov­
ering the same property.
Provision wifi be made so that, in case any o f such Prior
Bonds shall be issued, the First Consolidated Mortgage
Bonds, in lieu of which the Prior Bonds were issued, shall
thereafter be reserved, and may be issued and sold to pur­
chase, pay or redeem Prior Bonds. The new company shall
be required by the terms of the mortgage securing the First
Consolidated Mortgage Bonds to issue and sell the First
Consolidated Mortgage Bonds so reserved for the redemp­
tion of Prior Bonds issued whenever at least $100,000 par
value of such First Consolidated Mortgage Bonds can be
sold at 95 per cent of their par value ; and in such case the
proceeds shall be applied to redeem by call at 105 per cent
and accrued interest, or by purchase below 105 and accrued
interest, any Prior Bonds then outstanding.
Power will be reserved to extend or renew, without im­
pairment of lien, any of the undisturbed bonds which can­
not be taken up or paid at maturity on satisfactory terms by
use of the Consolidated Mortgage Bonds reserved for that
purpose.
I I . —F our P er Cent N on-Cumulative A djustment
P referred St o c k .................................................................*$23,000,000

[Y ol . l x i i .

of the new company by vote of the holders o f a majority of
the Adjustment Preferred Stock upon which votes shall be
cast at the respective elections. Upon the termination of
this preferential right at the expiration of five years, or
upon the payment of three full yearly dividends, the Ad­
justment Preferred Stock and Common Stock are to rank
equally, share for share, at all elections, each share entitling
the holder to one vote,
3.
Furthermore, provision is to be made so that no addi­
tional mortgage can be put upon the property to be acquired
under this plan, nor the amount of the Adjustment Pre­
ferred Stock authorized under the plan be increased, except
after obtaining, in each instance, the consent o f the holders
of two-thirds of the whole amount of the Adjustment Pre­
ferred Stock which shall at the time be outstanding, given
at a meeting of the stockholders called for that purpose, and
the consent of the holders of a m ajority of such part of the
Common Stock as shall be represented at such meeting, the
holders of each class of stock voting separately.
I I I . —Common Stock ................................................................. $66,000,000

Shares of $100 each.
The amount of the common stock authorized under the
Plan may not be increased except after obtaining the con­
sent of the holders of two-thirds of the whole amount o f the
common stock which shall at the time be outstanding, given
at a meeting of the stockholders called for that purpose.
The foregoing First Consolidated Mortgage Bonds, A d ­
justment Preferred and Common Stock, except the bonds
reserved to take up the undisturbed bonds and to provide for
new construction acquisitions and improvements as above
provided, are to be issued by the new company in considera­
tion of the properties and equipment to be vested in it under
the plan of reorganization. The new bonds and stocks
required for delivery under the Plan will thus be provided
for.
A P PLIC A TIO N OF NEW SECURITIES.

It is intended to use the First Consolidated Mortgage
Bonds, Adjustment Preferred Stock and Common Stock of
the new company as fo llo w s:
A .—F irst Consolidated M ortgage 4 P er Cent Gold B onds.
F or—
$1,500,000 A djustm ent Mort. 7 Per Ct. Bonds, 130 p. c .. $1,950,000
$15,065,000 o f O ne-Hundred-YearM ort. Bonds, 6 2 Jo p. c . 9,415,625
$7,050,000 o f M aryl’d & W ashingtonD iv. B onds,70 p .e. 4,935,000
$2,500,000 of Clinch V alley Div. Bonds, 50 per cent___
1,250,000
$4,114,000 o f Equipm ent Bonds, 100 per cent.................
4,114,000
$2,041,000 Roanoke & Southern RR. Co. Bonds, 55 p .e.. 1,122,550
$1,530,000 L ynchbu rg & Durham R R . Co. Bonds, 35 p .e.
535,500
Present issue............................................................................$23,322,675
Set apart under clause C.............................................................. 3,500,000
Reserve for undisturbed bonds under clause B, being, at
90 per cent, the equivalent o f such undisturbed b on d s.$25,986,889
Reserve for new construction, acquisitions and im prove­
ments under clause D, page'3, n ot exceedin g $1,000,000
per annum .................................. .................................................. 9,690,436
Total authorized issue............................................................$62,500,000
B . —A djustment Preferred Stock .
F or—
$1,500,000 Adjustm ent Mort. 7 P er Ct. Bonds, 20 p. c . .
$300,000
$15,065,000 One-Hundred-Year Mort. Bonds, 75 p. c ___ 11,298,750
$7,050,000 M aryl’d & W ashington D iv. Bonds, 67*2 p .e. 4,758,750
2,500,000 C linch V alley D ivision B onds, 70 p. c ..........
1,750,000
4,114,000 of Equipm ent Bonds, 48 p. c ............................ 1,974,720
$430,000 F ive P er Cent Debentures o f 1 8 9 2 ,1 0 0 p. c .
430,000
$2,041,000 o f R oanoke & Southern R y.Co. Bonds,65 p.e. 1,326,650
$1,530,000 L ynchburg & Durham RR . Co. Bonds, 65 p.e.
994,500
B al'nce reserved fo r the general purposes o f the reorgan’t’n
166,630

S

Total issue..................................................................................$23,000,000
C .—-Common Stock .

To be taken by the syndicate, or by the depositing stock­
holders in consideration o f payment o f $12 50 per share
deposited :
To $9,500,000 Common Stock o f N orfolk & W estern
RR. Co. (75 p. c .) ............................................................. $7,125,000 00
$50,000,000 Preferred Stock o f N orfolk & W estern
RR. Co. {112k: p. c .) ...................................................... 56,250,000 00
$553,650 Stock o f R oanoke & So. RR. Co. (not includ­
ing $1,842,800 held by N. & W. RR. Co.) (75 p. c .).
415,237 50
$713,350 Stock o f Lynchburg & Dur. RR. Co. (uotinclud'g $1,163,000 held b y N. & W. RR. Co.) (75 p.e.)
535,012 50
Bal. reserved for the general purposes o f the reorganiz’n 1,674,750 00
Total issue............................................................................ $66,000,000 00

The above makes no provision for the $1,271,000 of OneHundred-Year Bonds, the $330,000 of Maryland & Washing­
ton Division Bonds and the $26,000 of Equipment Mortgage
Bonds in the Treasury or pledged as collateral for loans, nor
for the bonds and stock of the Lynchburg & Durham Rail­
road Company and the Roanoke & Southern Railway Com­
pany, held or claimed by the Norfolk & Western Railroad
Co. It is proposed to acquire the pledged bonds by taking
up these loans; but should any of the pledged bonds not be
acquired by the Committee, then the Committee may allow
these bonds to be deposited under the Plan on such terms
as the Committee may determine, and in such case any First
Consolidated Mortgage Bonds to be delivered in exchange
therefor will be taken from the First Consolidated Mortgage
Bonds reserved for improvements, etc., and the issue of
Adjustment Preferred Stock may be increased to a total
amount not exceeding $24,500,000.

Shares of $100 each.
The Adjustment Preferred Stock is to entitle the holders
to the following preferential rights:
1. The holders of the Adjustment Preferred Stock are to
be entitled to receive non-cumulative dividends up to four
per cent per annum, payable out of net earnings before any
dividends shall be paid on the Common Stock, and in case
of liquidation or distribution of capital of the Company the
holders of the Adjustment Preferred Stock are to be entitled
to receive the par amount o f their stock out of the Com­
pany’s assets in priority to the Common Stock.
2. The holders of the Adjustment Preferred Stock are to be
entitled during the period of five years after the organiza­
tion of the new company, unless three full yearly dividends
of four per cent per annum shall have been paid on the
ote—Pow er is taken to increase this am ount to $24,500,000 In
Adjustment Preferred Stock before the expiration of that th•N
e im probable event that the Collateral Loans referred to on page 7
period, to elect two-thirds of the whole board o f directors are n ot liquidated as contem plated in the Plan.

AP H. 4, 1896 .J

THE CHRONICLE,

BASIS OF EXCH AN GE OF DISTU RBED SECURITIES.

Bondholders w ho deposit their bonds and stockholders
who deposit their stocks and make the required payments
on the term s o f the Plan and reorganization agreem ent are
to receive, upon com pletion o f the" reorganization and sur­
render o f their certificates o f deposit, bonds and stock in
the new com pany at the rates shown in the follow in g
table, viz.:

643

posited, and in consideration o f such paym ent o f $12 50
cash, they w ill receive, upon com pletion o f 'the reorganiza­
tion^ §75 in com m on stock o f the new com pany per share de-

A ll deposits o f stock must be made on or before A pril 30th,
1898. The $12 50 per share pay able by depositing stock­
holders m ust be paid in instalments as fo llo w s : $4 at the
tim e o f deposit ot the stock; $3 on or before June 1st, 1896;
--------------- Jo receive in---------------- , |S3 on or before July 6th, 1806, and $2 50 on or before August
I s : Consul. FreC d Coin'll 6th, 1896, A ll paym ents must be receipted fo r on the reorCash. M.Bondg. Stock.
Stock.
Failure to pay any instalment
Disturbed Securities—
F er Ct. P er Ct. P er Ot. P er Ct. ! ganization certificates.
I when and as payable w ill su bject the deposited stock and all
A'! i.-tm.-ut Mort, 7 Per Gant B onds.
7
130
20
82%
75
100-year M a rt B on d s......................................
! rights in respect o f any prior payments to forfeiture, as proM aryland AWaaWnsrtonDJv. B on d s..............
70
87%
; vided in the reorganization agreement.
Clinch Valley Dlv. Bonds...............................50
70
I A ll deposits and payments must be made on the term s o f
Equipment Mort. Bonds o f 1888...................
100
48
FivenPer Cent Debentures o f 1892................................
100
I this Plan and o f the annexed reorganization agreement; and
B osaok e Jc Southern By. Co B onds..............
55
65
the instalments paid by the depositing stockholders m ay be
I.ynehhurL' & Durham ’RR. C o ........................
35
65
I used b y the Committee', as provided in the reorganization
N. & W . B i t I’o . C ommon S to c k ... 1 On pay"t ..........................
75
N. * W . BB. Co. Preferred S to ck .. : o f $12-50 ..........................
1 1 2 % i agreement, for the purpose o f carrying out the Plan,
R oanoke & Southern Ry. C o.S tock f pershare .........................
75
The M ercan tile Trust Company has been appointed de­
Lynchburg A-Durham HR.Co.Stock j dep'slted.............................
75
positary under the Plan.
In addition to the foregoin g, depositors w ill receive, at ] Bondholders and stockholders in the United States should
the tim e o f deposit, three m onths interest on the proportion deposit their bonds and stocks w ith the Mercantile Trnst
o f new First Consolidated M ortgage 4 per cent Bonds to be j Company, at its office, No. 120 Broadw ay, N ew Y ork, N. Y .
Bondholders and stockholders in (I re lit, B ritain should de­
delivered to them accordin g to the foregoin g table, being
interest from July 1st to O ctober 1st, 1896. The new First posit through Messrs. Brown, Nliipley & Oo. o f London, w ho
Consolidated Mortgage Bonds w ill bear interest from Oct­ will act as agents for the above-nam ed Trust Company.
, B on d h old ers and stock h old ers in Uollai. d sh ou ld dep osit
ober 1st, 1896.
The am ounts o f new securities to be delivered as above in A m sterd a m th ro u g h th e N ed e r la n d so h e V e b e e n ig in q
set forth in exchange for the disturbed bonds includes com ­ TER BEHAKTiiitNli V AX DE bM I.iN DF.X VAX HOUDERS V AX OBLIpensation for the surrender o f m ortgage rights and for over­ GATIES TEX LASTS DEB NORFOLK & WESTERN RAILROAD COM, p a n t (hereafter called “ t h e Nederlandsehe V ereeniging” );
due interest adjusted to July 1st, 1896.
The disturbed bonds must be deposited with all unpaid and bondholders and stockholders in Belgium and elsewhere
coupons, except coupons w hich matured prior to March 1st, on the Continent o f Europe, either through Messrs. Brow n,
Shipley & Co., or through the Nederlandsehe Vereeniging.
1895. It is intended to pay these latter coupons in cash.
The bonds and stocks deposited through Messrs. Brown,
Holders o f bonds, front w h ich coupons required to be de­
posited as above stated shall have been detached, may deposit .Shipley & Co., or through the Nederlandsehe V ereeniging,
such bonds and the rem aining coupon s pertaining thereto and the payments made b y -th e'd ep ositin g stockholders in
upon such terms as th® Com m ittee shall prescribe. Upon London or Am sterdam , w ill be transmitted from London and
depositing such bonds and an am ount in cash equal to the Amsterdam, respectively, -to the depositary’ in New Y ork,
pa ra m ou n t o f m issing coupons, they shall receive therefor free o f expense to the depositing bondholders and stockcertificates o f deposit as if all the required coupons had been I holders. The rate o f exchange on the amounts payable by
deposited. The Com mittee may, in its discretion, purchase depositing stockholders abroad w ill be notified from tim e to
detached overdue coupons and may settle th erefor with the I time.
This Plan is part o f the reorganization agreement, dated
new securities o r in cash upon such terms as said Committee
the 12tli day- or March, 1896, w hereby Louis Fitzgerald,
m ay determine.
J.
K ennedy Toil, George Coppell. A . A , H. Boissevain,
The Com mittee may provide for the issue o f scrip for frac­
tional am ounts o f new securities, or m ay, in its discretion, Robert Flem ing, C. Sligo de Pothonier and H enri Francois
settle any fractional am ounts in cash, b y purchase, or sale, Rudolphe H ubrecht are appointed a Com m ittee to carry out
the Plan with the co-operation o f the London Com mittee
on reasonable terms baaed on the market prices o f the day.
and the Nederlandsehe V ereeniging m entioned in said
CASH REQUIREM ENTS A N D PROVISION THEREFOR.
agreement, and this Plan is su bject to all the provisions o f
The estimated cash requirem ents o f the reorganization said agreement.
March 12th. 1896.
are as fo llo w s :
Floating debt and collateral loans, receiver’s obligation*,
p a y -rolls,etc,, a , o f February 1st, iso tf, about . . . . . . . , , 61.925 ,000

A c c r u e d in te re st O il utid D tu rb ed o b iic a t lo tis its o f F o b m -

ary 1st, 1696, about............. ......... ....................................
Car T rust obiiKattons as o f February 1st, 1896, proposed
to be paid off. about................................................................

603,000
3,123,000

1t n o F n v o jc c u t x . r e p a ir s a n d e q u ip m e n t im m e d ia t e ly r e ­
mit re-1, o s p e n s c s o f reorgatesattosi. i n e i i n B o i ? eotntnis
sion* t o s y n d i f i a t e s a n d bankers, expeu.ses o t ferututi.m
o f t i e r c o m p a n y a n d is s u e o f n o w s e c u r it ie s , o n fo r e s e e n

item s Incidental to the reorganization, etc. (any surplus
to tto to tile new com pan y for Vorkiii < eapltnii___ _____
T otal................................ ....................... ............ .

1.882,500
67,437,500

Provision for the cash requirem ents in made by the sale of
Common Stock o f the New Com pany to a Syndicate, under
an agreement with the Com m ittee, but Stockholders of the
Old Com pany have the option o f taking such stock to the
am ounts and at the prices and on the term s m entioned in
this Plan.
DEPOSIT OP BECl KITtES.

Bondholders anti stockholders can obtain participation
under the plan o f reorganization, or avail themselves o f the
rights and benefits thereby offered, only by depositing their
respective bonds and stocks, as m entioned below, on or be­
fore the doth day o f April, 1896, and by com plyin g with the
term s o f the plan and reorganization agreement. Stock­
holders must also pay the first- instalm ent on accoun t o f the
payments to be made by them for the stock in the new com ­
pany as stated below. All securities deposited must be
transferable by delivery or must have suitable assignments
and powers to transfer attached.
Holders o f Histn>bed Bunds m ust deposit the same on or
before April 30. 1896; and on such deposit three m onths’ in­
terest on t he proportion o f N ew First Consolidated Mortgage
4 per cen t bonds t o be received by the depositors under the
plan w ill be paid to them in cash.*
Holder- of Pr.-iprreii S tu ck o f the Norfolk & Western BB.
Co. must deposit their stork and pay $12 50 per share de­
posited. and in consideration o f suen payment o f $12 50 cash,
they w ill receive, upon com pletion o f the reorganization,
$113 50 par value in com m on stock o f the n ew com pany per
share deposited.
Holders o f • amnion Stock o f the N orfolk & W estern
Railroad Com pany, the Roanoke & Southern Railway
Com pany and t b -' Lynchburg & Durham Railroad Com­
pany must deposit their stock and pay $12 50 per share de-

St. Louis Peoria & Northern RE - S t . Lonis <te Eastern
RK .—Consolidation, Etc.—As stated last week, the Sc. Loui
Peoria & Northern Rail vay Co. has been incorporated to
I unite the St. Louis & Eastern, St. Louis & Peoria and St.
Louis & Chicago (North & South Illinois BR.) the last two
] recently acquired by the St. Louts & Eastern. W e are
\officially in fo’ tned that the intention is to extend the road to
Pekin, 111,, making a total of some 240 miles; or, with the
Peoria & Pekin Union, which w ill be used from Pekin to
Peoria, some 250 miles. Neither the stock nor the bonds o f
the St. Louis Peoria & Northern have as yet been issued, and
for ihe time being the St. Louis & Eastern owns and operates
the system. The North & South Rulroad Company was
|bought outright.—V . 62, p. 591.
Seattle Lake Shore & Eastern Ry.— Assessment on Bonds
—Tim , .organization committee announces that at a general
meeting of the bondholders March 25, 1896, there being rep; resented at the rqeeting over three-fourths in amount o f the
outstanding bonds— the agreement of reorganization was
adopted and ratified. All holders o f the certificates of deposit
|heretofore issued by the Manhattan Trust Compatiy are re­
quested, therefore, to present their certificates to said Trust
, Company and have tbeir assent to the terms end conditions
of the reorganization agreement stamped thereon. All cer­
tificates stamped on or before April 15, 1896, must be accom ­
panied by a payment o f $48 per bond. After that date no
i certificate w ill be stamped unless upon payment of $50 per
bond.—V . 02, p. 594.

f'n ion Pacific R R .— Central P acific R K -P a o iflc RR.
Bill—A joint sub-committee of the Pacific Railway Com­
mittees o f the Senate and House are reported to have in
j preparation a bill which provides for a settlement of the
I debts of thise companies on the follow ing lines. The two
companies are to be reorganized separately, but the principal
and interest o f tbe debt of each to the Government, less
^inking fund, is to be refunded at 2 per cent interest, remain­
ing as now a Becond lien, and being payable for the first ten
years 5300,000 yearly, the next ten years 1500,000, and there­
after $750,000 yearly.
These amounts may, however, be
charged in the bill as finally adopted. The companies may
refund their first mortgage bonds into 4 per cent 50 year
bonds having a first lien on main lines, lands, etc., and
*Tbe CoTOBjiltre will retain a lien on the deposited bomb! for suck may also issue 4 per cent preferred stock.—V. 62, p.545, 549.

ea#b paym ent until com pletion o f the reorganization.

644

THE CHRONICLE.

Svracns* Street, R R .—Syractue (Ions Bidated Street Ry.
—Plan o f Reorganization and Consolidation-The Syracuse
Street Radr-iad Reorganization Committee, consisting of
Charles R. Flint, Cnairman; Walter G. Oakman, Anthony N.
Brady. Robert C. Piu.vn, S enhen Peabodv, FrederickScrruss,
Theodore H. C mderman and Willard R. Kimball, with Fred­
erick Strauss, Mills Budding, New York, as Secretary, re­
quests the holders of bonds, notes, preferred and com­
mon stock of the Syracuse Street Railroad Co. and oertiricates of the Central Trust C r. representing Syracuse Consol­
idated Street Ry. bonds, to deposit the sime witn the Guirantee Trust Company of New York on or before April 15,
1896, under the plan of reorganization.
Speedy action
they say is imperative.
The plan is issued with the
co-operation of the committee representing the Consoli­
dated Street Ry. bonds, and will be declared operative
as soon as 80 per cent of the latter and a “ sufficient per­
centage” of the Syracuse Street RR. securities assent.
P la n —The plan”, dated March 25, 1896, provides for the or­
ganization of a new company, empowered to acquire title to
the bonds, stocks, properties and franchises of tn-* Srricu-te
Company, the Cons uidated Company and the Syracuse &
East Side RR. Co. Said corporation shall issue:
Mortgage 5 per e^nt 50-year sroUl bonds, dated March. 1,

S h e

[V ol. LXII.

C o m m e r c ia l

CO M M ER C IAL

jin x e s .

EPITOM E.
F r i d a y N i g h t , A pril 3 .1 8 9 6 .

All the principal Exchanges are closed to-dav and so ne will
remain closed until M mdav. General trade of course fepls these
influences. There is, however, a better and more hopeful feel­
ing m business circles, a id indications are not warning that
with better weather and the Easter holidays over, the com­
mercial interests o f the country will receive a favorable im­
pulse. The poltical events of the week have bee i unimpertant on either Continent, yet s une uneasiness has at times
been apparent in European diplomatic circles,
The foil iwiug is a compara tve stacemsne of stocks of lead­
ing articles of merchandise at dates given :
March, 1,
I8y6.

P ork...........................
L a r d .........................
Tobacco, dom estic . ......... hhds.
Tobacoo, foreign ___
Ootfee. R io................
18 *6, covering the consolidated p ro p e rtie s................... . $3,250,000
Oottee,
o t h e r ...........
Of which to b e reserved to retire at ni p urity a nice amount
CJotfee, Java, <fec.......
of People’s R * . bonds, an undertying seoarity o f the
4n*$ar......................
Syracuse Street R R ......................................................................
750,000 S u g a r ......................
F or Syracuse Consolidated street Ry. b o n d s ........ . . . . . . . .
6 >o.t)0 > Molasses, foreign ..
F or re orga'dza ion ,etc., expenses ............................................
1 0 0 .*00
S id e s ....................... ............ No.
F or reconstruction, betterments, et i.........................................
125,0 JO O otton .....................
N ow offered, alon? with $1,500,0 0 o f comm *n stock, for
R o sin .........................
subscription to Svracusj S reen R i. stockholders o f April
1, 1896, fo r $ i , 600,000, the Issue being un derw ritten ........ 1,675,000 8 pirlts turpentine..
Tar............................
Preferred slock 6 per cent non-oum ulative..............................$ 1 ,2 10,00"*
Rloe, E. E ..............
Of which for Svra -use Street RR. bon ds------- ------------- . . .
780, ‘00
Sloe, itom estio.........
F or Syracuse 8treet RR. prfd. stock ...........................................
145 0 0 Linseed ..................
To pay claim s:...................................................................................
25,000 Saltpetre....................
F or construction, betterdienes, e t c ..............................................
300,000 /a te butts..................
Common Stock.................................................................. ............. $2,75 *,000 danlla hem p............
F or Syracuse Con olidaied rttt eet Rv7. bonds
.......................
70 0,0 “ 0 Sisal hem p................
F lo u r ............... bbls. and sacks.
F or Syracuse Street RR. prfd. s t o c k .....................................
550,000
F or sale as above stated (see b onds)........................................... 1,500,000

7,620
26,153
15 ,6 h3
24,017
218,803
77,166
42,069
482
485,183
215
110,600
187,212
31,974
2,336
2,Q12
7,800
13,000
None.
5,500
2,300
9,3 5
27,039
162,400

A pril 1,
10^6.

A pril 1,
109 5.

6.436
24,697
14.7 6
26, *5 4
18 4,50 2
52,0< 0
40.744
1,817
662,356
None.
131,100
15 *,242
23,29 L
1,456
2,6 i3
20,500
12,800
None.
8,200
2,600
17,< 80
44,090
146,000

13,894
24,198
16,051
60.648
162,005
59,349
18,730
214
258.434
173
51.100
207,907
30.774
1,602
3.935
32,100
1,*50
None.
3,600
2,750
30,685
17,866
152,400

The demand for lard on the spot has continued very limited
Exchange o f Securities.—Holders will receive:
and prices have further declin'd under free offerings, closing
.*----------- Will receive------------v dull at 5’32%c. for prime Western, 4 90c. for prime City and
New
Prfd.
Common
Holders for principal of—
bonds.
stock.
sl>ck 5 70c. for retined for the Continent. There has been no
Syracuse Consol, street Ry. bon ds...... 1T6 %
Noue.
7 % speculation in the local market for lard futures, but nominal
Syracuse Street RR. bon ds................. . . . None.
10 %
None.
prices have been quoted lower with the West, where selling
“
“
pfd. stools..........
None.
25
97
has been general, prompted by the continued heavy move­
Holders o f Syracuse Street RR. com m on stock are allowed to sub
ment of swine.
scribe to certain new securities. See application o f new bonds above.
DAILY 0LO8INO PRICES OP LARD FUTURES.

1TOn deposit o f the Central Trust Co.’s receipt the holder will reo^ive
$15 cash on each cer'iticate o f $ >.00 *, bHtiug 5 per ce it interest f om
Sept. 1, 18.45. to March i, i896. after which he will receive 5 uer cent
regularly in cash on the am ount o f new bonds to which he is entitled.

Interest was defaulted Jan. 1, 1896, on Syracuse Street RR.
bonds and on People’s RR. b )nds, but the over-due interest on
the latter loan is to be paid and the loan left undisturbed.
App'ication o f Cash.—Tne moneys derived from the sales
of bonds and stosk are to be used for the following purposes :
To settle outstanding debts o f the old com panies and the
liabilities incurred tor operating expenses o f the Syraouse
Consolidated Street R y., estimated in nil to r e q u ir e ......... $1,000,000
F or reconstruction, betterments, etc., on the com bined prop­
erties, and for expenses o f reorganization...........................
901,000
—Y. 62, p. 504.

United

States Rubber.—Financial Condition.—The
is officially informed that the company has paid
off all its bills pa\at>le and has made no loans since the last
report to its stockholders. Toe capital stock ou staniing re­
mains precisely as a year ago—$20,166,000 common and $19,400,500 preferred. A newspaper squib says the cash in bank
is $475,000. Last year it was $119,900.
Mr. Hollins's Resignation—As to the report of his having
withdrawn his resignation from the Board of Directors, Mr.
Hollins is quoted as saying : “ My resignadon has not been
withdrawn. Should certain desired results in t h j manage­
ment be attained I should be very glad to continue in the
board, if it is so desired—otherwise not.”—Y. 62, p. 462.

C h r o n ic l e

Yonkers RR.—Consolidation— At Albany on Wednesday
was filed a certificate of consolidation of the Yonkers Ry.
Co., the North & S >uth Electric Co. and the Yonkers & Tar
rytown Electric RR. Co. under the title of the Yonkers RR.
Co., with au horized capital $1,000,000, par value of shares
$100. The directors are Albert L. Johnson, J. M. Eiwards,
R. T. Wilson, Jr., John H. Ingram and M. C. Wilson, of New
York City; J. F. Van Name and Albert Crolius, of Brooklyn,
and Chaoning Burnz, of Scarsdale.—V. 62, p. 462.

—Mr. F. J. Lisman, No. 10 Wall Street, advertises in an
other column that he is prepay d to trade in all the guaran­
teed as well as direct issues of the Baltimore & Ohio >ystem.
See the list given in the advertisement. Mr. Lisman makes a
specialty of inactive railway securities.
—Messrs. Remond, Kerr & Co.’s monthly investment circular
will be found in its accustomed plac* in the hack of the
Q u o t a t i o n S u p p l e m e n t issued with to-day’s C h r o n i c l e
A
careful study of these circulars will amply repay intending
investors and the information contained in them will be sup­
plemented on request by prices, etc., on application at the
firm’s offices in New York and Philadelphia.

Sat.

Won.

Tues.

Wed.

Ih u r.

Fri,

........................... 0 . 5-47 5-35
5-35
5-40 5 35
H 'y.
Pork has had very little call and prices have declined,
closing at $8 75 d $ 9 50 for mess. Cue m ats hive been easier.
Tsllow has b jen easy, clising with sales at 8 21-82:. Cotton­
seed oil has been steady, closing at 2L^@22c. for prime crude
and 25J^c for prime yellow. Butter, cneese and eggs hive
been in fair demand and steady.
The demand for Brazd growths of coffee has been quiet but
prices have held fairly steady, with Rio No. 7 quoted at 13%c.
Mild grades hav-- received a moderate amount of attention at
steady values. G iod cucuta quoted at 1634c. and standard J iva
at25@25J4c. There has been very little animation to the deal­
ings in the market for contracts but prices advanced slightly
on some buying by ‘ Vhorts” to cover contracts, closing dull at
a slight reaction from top prices.
The following were the final asking prices:
April .............12'95c. |Julv...............ll'70e. I Oct................ 10-70o.
May............... 12-600. Aug................11-300. Nov...............1O50O.
June............... 12 lOo. I 8ept............... 10-90c. 1D eo ............ .,10 40o.
All offerings of raw sugars have been quickly absorbed at
quotations and the close was firm at 4 3-16c. for centrifugals,
96 degrees test, and 3%c. for muscovado, 89-degrees test. Re­
fined sugars have sol i fairly at an advance of l-16o. per lb.
Granulated quoted at 5 3-16c. Teas have been quiet.
Kentucky tobacco has been in demand, but owing to the
small supply of desirable grades in stock the amount of busi­
ness transacted has been small. Seed leaf tobacco has been
quiet but steady; sales for the week were 725cases, as follows:
KlOcases 1892 crop, New England Havana, 21@3do.; 75 cases
1893 croD, New England Havana, 6,ai75^c.; 180 cis-sl894
crop, New England Havana, 8@l6c.; 100 cases 1893 crop,
Pennsylvania Havana, U @ l2c ; 120 cases 1892cron, Wiscon-in
Havana, 12@16c., and 150 cases 1894 crop, State Havana, 834
@14c ; also 1.000 bales Havana, 63c.@$l 10, and 125 bales Su­
matra, 40c.@ 82in bond.
There has continued a quiet market for S raits tin, but
foreign advices have been stronger and prices have advanced
sligh ly in sympathy, closing at I3'40c. Ingot copper has
been In fairly good request, aud urices have advanced, closing
firm with 10-75c. bid aud 11c. asked for Lake. Lead has sold
slowly, and prices have weakened slightly, but the close was
steady at 3 05c. for d rmes'ic, Spelter has been quiet, closing
at 4-15@P20c. for domestic. Pig iroa has been quiet and un­
changed at $11'25@13 50 for domestic.
Refined p-troleum has been steady, closing at 7 21c. inbbls ,
4 70c. in bulk and 8 'IOc. in cases.; crude in obis, has been
nominal; naphtha unchanged at 8 2">c. Crude certificates
have been neglected, closing at §1 28 nid. Spirits turpentine
has advanced, closing firm at 2S34@29c. R isins bave been
steady, closing at$l 75@$1 7734 for common and g ro i strained
Wool has been practically neglected but prices have been,
quoted nominally steady. Hops have been dull.
May

!

THE CHRONICLE.

A p r il 4, 1806,]

045

In addition to above exports, our telegrams to-night also
give us the follow ing amounts o f cotton on shipboard, n ot
cleared, at tne ports named.
We add similar figures for
T h e M o v e m e n t o p t h e C e o p , as in d ic a t e d b y our telegrams New York, w hich are prepared for our special use by Messrs.
from the .South to-night, is given, below. For the week ending Lambert & Barrows, Produce Exchange Building.
this evening the total receipts have reached 60,403 bales,
ON SHIPBOARD, NOT CLEARED FOR—
against 78,337 bales hist week and 69,160 bales the previous
Leaving
week, m ik in g the total receipts since the 1st o f Sept., 1891,
A pril 3 a t—
Great
Other OoastStock.
4,832,911 bales, against 7,313.781 bales for the same period o f
Total.
B ritain, France. Foreign ivise.
1894-5, show ing a decrease since Sept. 1,1895, o f 3.530,871 hales,
C O T T O N .

F r i d a y N i g h t , A p r il 8, 1896.

Receipts at—

Sat.

Mon.
4,165
......
4,287
1,350
.....
188

Tues.
1,159
397
8,384
203
53
1,634
248
195
......
32
.......
789
18
126
1,493
660
217
555

G alveston .........
T ex. C ity, Ac.
Hew O rlean s...
M ob ile...............
F lorid a ..............
S avan nah.........
Bruns w’k, Ac.
C harleston.......
Pt. R oyal, A c.
W ilm ington. . . .
W aeh'ton, Ac.
N orfolk..........
W est P oin t.......
N’ p ort sr., A c.
New Y o r k .. ....
B o s to n ...........
B altim ore........
PhBadelpli'a,Ac

1,316
*—.*.!
2,331
9
. . . . . . i;
947
.......
20J

T o lls this week

6,498. 12,783 16,218

179

32,
191
...... \ .....
-HO 1,337
199
..... .1 . . . . . .
......
mo
730
......j
293
56

Wed. |Thurs..
1,759
......
1,198
D

1,792
......
1,661
103
......
879

Fri. j Total.

......
..... ■ ......
860
668
.....
......
200
140

1,796 11,937
711
1,10S
2,725 20,639
107
1,777
......
53
1,255
7,955
197
415
297
1,765
117
117
93
1,165
7
7
012
5,138
217
331
457
......
1,493
517
4,115
148
365
100
1.344

9,044

9,015

2,702

163

725
....
618

197

....

841

1,169

6,044

00,202

The foil .wing shows the week's total receipts, the total since
Sept. 1, 1893. and the stock to-night, com pared w ith l ist year.
f
1805*96.
Rteeipls to
A p ril 3. ! This Slnee Sep.
Week. 1, 1395.

1894-95.
This Sim e Sep. j
Week. 1, 1894.

Stoek.
1S98.

1895.

G a lv eston ..,
T e r. CL, Ac.
New Orleans
M o b ile .........
F lorid a ........
S avan nah...
B r'w lck, Ac
C harleston..
P.Roja!,4ec
W ilm ington.
Ws*h’ n,A*.
N o r fo lk ........
W est P oint..
N' p’ t A c
New Y o rk ...
Boston..........
B altim ore...
P h ll# d el„*c.

11,9 3 7 871,169 15,099 1,395,3 42
30,313
4.915
68,691
1 .10.8 102,992
1.166
20,639 1,6-26,220 46,606 2 ,400,642 193,534
2,192 227,908
17,213
1.777 197,020
24,50?
29,797
735
58
40,415
7,955 700,337 13,122 893,037.
1,031
145,929 s
415 111,741
2,137
2,499 414,404
22,4 49
1.765 269,513
70,131
112 140,142
117
2,306 232.408:
1,165 161,396
8,369
5
763:
7
923j
5 291 444,910
20,519
5,183 302,8 13
1,472
217 140,851
4,353 273.483
879
157
23,300;
2.377
S liS U j
4.300 127,772
47,039
151,070
1,493
99,276
90,831
8,551
12,000
4,113
365
314 107,136:
43.953
13,019
1.344
5,93*
37.327
111,093;
8,425-

60,162
8,921
1,107
225,024
21,000
25,223
12,987

T o ta l* ......

6 0 5 0 2 4,922.014 118,767 7,943,785 i 5.5 •>,:»?!»

$72,920

78,374
301,219
27,781
57,963
5,537
-10,167
17,396

I n o r d e r t h a t c o m p a r is o n m u - b e m a d e w it h o t h e r y e a r s , w e
g iv e b e lo w t h « t o t a ls a t le a d in g p o rt* f o r s ix se a so n s.
Re'rApH at—

1690,

1803.

1894

Gaivea'ii Ac.
New Orleans
M o b ile ........
Savan nah ...
OhJM'tou, Ac
Wllro’ tou.Ae
N o r fo lk . . . . .
W. Point, Ac.
AU oth ers...

13,093'
20.634
1,777
7,935
1,332
1,172
5,138
674
7.m o

17,163
40.606
2,132
13,122
2,001
2,511
5.291
5,234
22,615

3,537
16,24 2

T o t this wk

30*204

118,767

1893.

: 1802.

7,66*
5387
743
3,59 4
2,930
9,219

6.037
17,873
1,116
7,045
2,525
1,110
0,943
1,773
7,142

3,8*7
24,233
1,3 42
11,734
2,030
626
6,60S
0,555
0,328

54,279

31.369

63,95$

1891.
9.671
13.218
3,570
12,379
8.932
918
7,293
4,388
7,913

New Orleans,. .
G alveston..___
S a v a n n a h ......
C harleston.. ..

2,246 29,076
5,392
2,055
None.
5.000
None.
1.000
None.
None
None.
1,000
900 11,600
None.
4,000

N o rfo lk ............
N ew Y o r k .......
Other p orts___

851
8,035
None.
None.
3,500
1,000
5,850
7,000

Total 1 8 9 6 ...

26,286

8,531

53,731

11,995

100,550

454,829

Total 1 8 9 5 ...
T otal 1 8 9 4 ...

67,518
43,571

9,930 76,133
150 30,263

21,438
13,583

175.049
86,567

697.877
623,386

M obile . . . . . . . . .

567
2,028
2,*-00
900
None.
6,500
None.
None.

32,740
17,560
7,000
1,900
3,500
8/0 0
18,350
11,000

160,794
33,255
33,415
20,549
13,713
IS,019
132,720
42,364

The speculation in cotton for future delivery at this m arket
has not been active, but. values have shown much strength.
A slight decline on Saturday at the opening was follow ed b y
a quick recovery, and some advance succeeded, which was
ascribed to the material reduction o f American stocks
through free exports and to the belated planting season over
a consi lerable portion o f the S mth
Values made some fu r­
ther improvement in the course of Monday and Tuesday,
but the advance was small, neither buyers nor sellers seem­
ing inclined to act freely. Unfavorable reports from the dry
goods mnrk,ft continue to act as a cloud over the speculation
in the raw material, offsetting in a large degree the influence
of the statistical position. Wednesday opened a little firmer,
but there was pretty free selling all day, under which some
weakness was developed, but no material decline took place.
The selling was mainly to realize profits, but the bears were
encouraged to put out a few “ short” contracts. Yesterday
Liverpool reported a small advance, to the disapoointment of
the bears, and they again became buyers to “ cover,” while
some fresh “ bull'’ interest was developed, but the m ivement
was on a small scale and the advance was unimportant. The
large export clearances to-day attracted some attention. The
close was quiet and steady at an advance over last Friday’s
prices of ti(39 points for this crop and 3 ft 4 points for next
crop. The Cotton Exchange was closed to-day. Cotton on
the -pot has been quiet. Quotations w rre advanced l-16c. on
Tuesday and reduced l-16c. on Wednesday, leaving the close
as at last w eek; middling uolands
The total sales for for ward delivery for the week are 447,600
bales. For immediate delivery the total sales foot up this w eek
5,637 bales, including 2,679 for export, 1,538 for consum ption,
- for speculation and 1,400 on contract. The follow in g are
the official quotations for each day o f the past w eek—
March 28 to April 3.
dates on and off middling, as established Nov. 22, 1893,
and revised Dec, 11,1895, by the Revision Committee at w h ich
grades other than middling may be delivered on contract:
oft.
Fair............................. o. l'.i on. G ood O rdinary............... o. 1
on. G ood M iddling T in g e d ...
on. Strict Middling S ta in ed ..
on. Middling Stained..............
oft. Strict Low Mid. Stained..
"' ‘ ’ *Low IMiadll:n « .........
Strict
Low Middling ................ . % off. Low M iddling Stained___l
itriot G ood O r d in a r y ..... l l i« oil.
Middling Fair. ..........—
7g
Strict G ood M iddling....... h
fo o d M id d lin g ....................

“ is

Even.
I32 off.
% oft.
2t32 oft.
1* oft.

On this basis the prices for a few o f the grades w ould be as
follows.
UPLANDS,

S a t.

M on T o e s W ed

T il.

F r i.

row Middling.............................
diddling . . . . . . . . . . . . . . . . . . . . .
loud M iddling..........................
fiddling- Pair .......................

6%
78s
7 78
§ i»«
8\

(l7s
7%
F 9
8 be
8%

6 '618 0%
7ks
7V
7 '..,8 7%
81,«
S it
8 l».« 84i

6 7s
7ig
7^8
8ba
8%

|

B a t.

M on T ue* W ed

Th.

F r i.

7%
7%
8^6
B“i0
9

7%
7%
8%
87l6
9

1
rd
■—
.

Th.

F r l.

GULF.

73,413

•

fi

Since Sept. t 4 3.22,911:7343,733:322 2,23.3 4618,130: 6370,009 6370,512

Jood Ordinary............................

The exports for the week ending this evening reach a to ta l
o f l i >.391 bales, o f w hich 9l,5B8 were to Great Britain. 8,3 >5
to France and 39,9 >1 to the rest o f the Continent Below are
the exports for the week and since September l, 1893,

diddling .............. ............ .........
3ood M iddling... . . . . . ___ . . . . .
diddling Fair ..........................

74s
7%
S a8
81IA
9 16

STAINED,

S a t.

M on T ue» W ed

6^8
7/3
721.S2
7%

6%
6%
o-'s
H oll7k!
79 ia 7*2
7*2
721,2 73 H 72ls2 7^32 day.
7%
•
7i6lfi
7%
7-8
-

„

Wre* Sn.t.nj Sprit 3. I.SOft. j From Sept t, 1605. to Apr. 3, 1890.

___ Reported ’ —
_ Esin o- l.
-______ ___
(Jrml
Qmtfr THu Grmt j
CuntiPmnc*
Total.
BrU’n.
ftrfti. IVmk. ib-ltat* Stance retd.

OjtSr m ttm ..,,. t%sm
T « . a t r>&c
i.i •
Mmr Qtt&mw. ■ MM*
jaofell«& Pan
.....
Bm&mUik,...,
Charleston*..,
Wilmington...
Horfolk. ......
<t»i
W m t PmtiL,..
....
Wp*t News, Ac*
Yoric,__
u .m
BMUmmm*. ....
m
Phll*d«lp'*,4«
fm

wm**>
468/76
89,947
»S M 8
22, -0 .
171.5000,708
IMA200,3*3
2/28
60,241
28 J01

625,767
70/77
1,360 331
io5.06i»
821,761
72.131
262,558
128,361
51,081
9,980
11/73
481.081
2J7/70
111,183
85,309

i, 542/0 f 3/01,322

1
|3

n o /7? I *7*763 7,907/7 4*71 \R5« 2. IV2,4

1us

Tout, imt-m. 41.KM
* Including Pure Rorm.

If
1*

T M*t . .... .

m* lt,m 3 3T8/&7! 93,014
HVr ijn *
4,360
n j m 72; i(l S
- 505.037; ^-,45."
75.11-’,! ......
m
3,336 a,$8€s StMSrtj 2>i,:nt<
S0,3*> *......
0,A>.j
90.000( ......
3 5 / m\ 1,770
«3fl m s is! ......
0 / 3 / ......
11,67
.......
M • 3,5 K 2% 120 756.41 * 24.2m
11,418 2 6.642 ......
1*513
4.r,3 1,71.
i.njo
1/74
7rm| ......
■
SSOi
a o r3«*
437.71?

food Middling T inged..............

7%
7%
S^fl
9

735?«
83.fi
8%
9h«

W

MARKET AND SALES.

The total sales o f cotton on the spot and for future delivery
each day during the week are indicated iu the follow in g
statement. For the convenience o f the reader we also add
a colum n w hich shows at a glance how the market closed on
same days.
SALES OF SrOI AND CONTKACT,
SPOT MARKET
CLOSED,
S a t'd a y ,
Monday.
Tueaday jniet at i , 9 adv.
Wed’day Quiet a t 1,. ileo.
T h n /d ’y Quiet A steady.
Friday..
T otal,

........

. . . ...-

Ex­
port.
700
1,979

2,679

Spec- Con­
suiwp. ul’ t’n tract.
Omv-

550
415
204
155
204
.. Hoii
1,558

200
1,200

....

1,400

Total.

Sales o f
Futures.

550
1,345
2,183
1,355
204

65,300
114,900
145,800
81 ,000
40,600

5,637

447,000

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D A I L Y P R IC E S A N D
March.

A pril.

June.

May.

July.

I 1®
2
a;* d
P
PrM
Hg
0 >

S
o
a
g
S
o

Eufaula,
M ontgom ery
Selma,
Helena,
Little Rock,
Albany,
Athens,!
Atlanta,
Augusta,
Columbus,
M acon, t
Rome,
Louisville,’'
Shreveport,!
Columbus,
Greenville,
Meridian,
Natchez,
Vicksburg,
Yazoo City,
St. Louis,
Charlotte,
Raleigh,
Cincinnati,
Columbia,!
Greenwood,!
Memphis,
Nashville,
Brenham,!
Dallas,
Houston,

S ALE S

A la b am a . ..
“
<<
A r k a n sa s . .
it
G e o r g ia ....
<<
“
«
«
«
tt
K entucky.
L o u isiana .
M is siss ipp i .
“
“
**
“
**
M is so u r i ...
N.C arolin a
“
O h io ............
S. Ca r o lin a
“
T ennessee ..
ft
T e x a s ..........
<<
“

Total, 31 to w n s..........

43
299
133
387
689
32
250
565
892
155
75
226
72
400
50
110
278
99
255
23
4,141
181
180
2,509
500
189
2,810
34
250
189
13,629

29,645 3,408,029

OF FUTURES FOR E A C H

August.

September.

16,163
115,603
34,468
49,288
93,805
26,671
49,372
88,585
166,240
46,007
49,768
50,170
4,917
75,837
26,822
40,100
32,029
47,138
63,611
52,943
521,654
18,531
18,600
172.059
30,752
14,733
403,555
19,251
52,216
40,262
986,879

October.

302
223
227
998
1,198
71
804
3,039
3.163
1,085
201
446
983
1,344
450
325
163
419
1,158
406
15,295
237
473
8,659
695
46
32,136
688
1,018
372
26,938

1,555
4,315
1,411
3,856
17,902
3,692
4,500
7,715
20,171
7,584
3,251
2,395
858
12,479
478
2,200
1,578
5,199
3,328
1,800
56,268
250
2,148
12,752

52,157 293,982 1 55,606 |5,401,323 103,622

275,916

154
1,264
490
1,788
1,562
103
521
3,151
2,055
179
121
419
47
791
189
2,190
100
195
666
1,201
6,631
181
410
3,790
500
269
9,304
52
446
110
13,278

856
6,042
2,698
1,997
20,570
2,127
7,500
8,250
21,544
6,384
4,800
2,780
460
9,200
581
5,920
2,960
5,550
11,531
9,531
57,495
50
2,100
5,503
...
750
71,375
100
3.40C
1,374
20,554

24
19,225
815
140,464
186
76,632
458
67,164
1,512
122,064
32,471
35
500
77,199
705
163,462
1,355
203,795
225
63,256
61
68,106
171
92,800
907
9,341
802
114,171
389
39,191
225
42,479
601
42,286
256
64,027
308
61,542
400
57,832
13,898
869,252
237
2 3 ,110
526
31,964
6,092
337,785
695
30,303
46
16,314
5,055
565,796
53,354
766
935
117,664
335
63,029
17,086 1,735,245

MONTH.

November.

December.

January.

February.

A v’ ge.. 7*45 A v ’ge.. 7*50 A v’ ge.. 7*60 A v ’ge.. 7 ’6 l A v’ge.. 7*61 A v ’ge.. 7-61 Av ge.. 7 ’27 A v ’ge.. 7*20 A v’ ge.. 7 ’ 13 A v’ge.. 7-15 A v ’g e.. 7*21 A v ’g e..
Lower
300
3,500
1,300
14,700
5,500
27,000
100
7,800
100
1,300
3,700
65,300
7-17® 7-22 7-12® 7-16 7 ’ 14® 7-19 7*20® 7*22 — ® —
7*46® 7*54 7'55® 7-63 7-56® 7-63 7-57® 7-65 7 57® 7*65 7-27® —
7-12® 7 ’65 7*45® —
■7-23—
7*24 -- --- —
7
*
1
8
7*19
7
*
3
0
7*32
7
*
2
1
7*22
7
1
6
7
’
17
7
6
1
7
’62
7
6
2
7*63
7
*
6
4
7*65
7-63—
7-65
7 5 0 - 7 ’52 7 * 5 2 - 7*53
Steady.

Monday, Mch. 30—

A v’g e.. 7*54 A v ’ge.. 7-53 A v ’ge.. 7 ’64 A v ’ge.. 7*65 A v’ ge.. 7-67 A v ’ge.. 7 ’66 A v 'g e .. 7-33 A v ’ge.. 7*24 A v ’ge.. 7 ’ 18 A v ’g e .. 7-20 A v ’ge.. 7*25 A v’ge..
Firmer.
8,000
*Z,200
9,700
8,700
1,500
50,900
1,300
200
27,300
4,500
600
114,900
7*53® —
7-61® 7 ’66 7-61® 7-67 7*64® 7*69 7*63® 7-68 7-30® 7-34 7-21® 7-26 7-16® 7-20 7-18® 7-23 7-23® 7-27 — ®
7*16® 7*69 7*54® —
Nominal.
7 - 5 5 - 7-59 7 '6 4 - 7-65 7 - 6 6 - 7-67 7 - 6 8 - 7-69 7-67— 7-68 7 * 3 3 - 7*34 7 - 2 4 - 7-25 7 - 1 9 - 7'20 7*22— 7*23 7*27— 7*28 -- --Strong.
A
A v ’ g e .. ------ A v ’ge.. 7*59 A v ’ge.. 7-69 A v ’ge.. 7-70 A v’g e.. 7'72 A v’ge.. 7'72 A v’ge.. 7 -38 A v’ge.. 7-27 A v’ge.. 7-23 A v ’ge.. 7*26 A v ’ge.. 7*30
Firmer.
1,600
3,500
8,100
13,900
8,900
63,000
2,400
9,200
33,400
1,800
145,800
7-55® 7-63 7-64® 7-71 7*67® 7-72 7-68® 7 ’75 7*68® 7-74 7-35® 7-40 V 2 5 ® 7-30 7-21® 7-26 7*23® 7*27 7*28® 7*31 — ®
7*20® 7*74 — ® —
-- -- —
7 - 5 8 - 7-60 7 - 6 6 - 7-67 7-67— 7-68 7-68— 7-69 7 - 6 8 - 7-69 7-34— 7-35 7 - 2 4 - 7-25 7 - 2 0 - 7 ’21 7*22— 7*23 7 * 2 6 - 7*27 -- —
Easy.

Prices paid (range)
Tuesday, Mch. 3 1 Sales, to ta l..............
Prices paid (range)

so §0

SC

Tow n s.

1>

Movement to A p ril 5, 1895.
Receipts.
Shipnits Slock
This
This
Since
A pr. 5.
week. Sept. 1,’94. week.

Saturday, Mch. 2 8 Sales, to ta l..............
Prices paid (range)

it ® W ednesd’ y, Apr. 1—
o a
Prices paid (range)

3^

M arket,
Range and
Total Sales.

‘S ^ 'O

to

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Movement to A p ril 3, 189(3.
Receipts.
ShipnVts Stock
This
This
Since
A p r, 3.
week. Sept. 1 /9 5 . week.

>
s | a>
CS 60«J.H

Thursday, Apr. 2—
Sales, to ta l..............
Prices paid (range)

* ___

—
—

A v ’ge.. 7*58 A v ’ge.. 7-65 A v ’ge.. 7 ’66 A v’ge.. 7*67 A v'ge.. 7-66 A v’ g e.. 7'34 A v ’ge.. 7'25 A v’ge.. 7*20 A v ’ge.. 7-22 A v’ge.. 7*27 A v ’ge..5,900
5,800
3,900
3,600
200
5,000
33,500
13,200
4,500
400
7-57® 7-61 7 ’63® 7'69 7-64® 7-69 7*65® 7*72 7-64® 7-70 7-32® 7-36 7*23® 7*27 7-17® 7-23 7*19® 7*24 7*24® 7*30 — ®
7*2o—
7*26 — — —
7
*
2
0
7*21
7
6
6
7-67
7
*
3
3
7*34
7
2
3
7-24
7
1
8
7-19
7
'6
4
7-65
7
*
6
6
7*67
7
*
6
4
7*65
7 '5 8 - 7 ’59

A v’ g e ..-----Steady.
40,600
7*19® 7*72 - ® —
-- -- - Quiet.

A v ’ge.. 7 ’ 59 A v ’g e.. 7*68 A v ’ge.. 7 ’67 A v ’ge.. 7*70 A v’ge.. 7*69 A v’ge.- 7*36 A v’ge,. 7*25 A v’ ge.. 7 ’20 A v ’ge.. 7*21 A v ’ge.. 7*26 A v ’g e..200
2,800
500
600
20,600
200
3,300
2,600
9,600
200
- ® 7*36 7*24® 7*27 7-19® 7-20 7*20® 7*22 — ® 7*26 — ® —
7-59® 7-60 7*65® 7*70 7*65® 7*70 7*69® 7*72 7*66® 7-71
7-60— 7-62 7 - 6 6 - 7-67 7 - 6 6 - 7-67 7 '68— 7-69 7 - 6 8 - 7-69 7 * 3 4 - 7*35 7 - 2 4 - 7 ’25 7-18— 7'19 7*20— 7*21 7*25— 7*26 — — -

◄tL
oW
Friday, Apr. 3—
© © Sales, to ta l.............. 1l
WJ
►
J 43 Prices paid (range)
C losing.................... f .................
00^
447,600
Total sales this w eek
W p A verage price, week
K ^
|8ales since Sep.1,’95* 36,923,400

— ®
-- --

*•

300
7*50
11,042,900

•X 0 ^
q jOi £‘
10 tcr>- a
^ ©tH
a “. 5©
0
© t> .Ct,
0 O t- <
dp ©
*-•cd oa

—
—

—
--

81,000
7*17® 7*72
Steady.

© © © L*
3 a a fl
2 P
fto Q- v
®L? OiCl,
©Z©

5cSQ ®
©
t:©«MO
3 -^ 2
S ». g 3
Si*-< oqj
L ro oo»—
*
- s '? &
€18

H O L ID A Y

4,300

98,200

37,400
7-66

24,200
7*67

200,000
7*67

4,£00
7*34

32,000
7*24

17,600
7*19

19,200
7-21

10,200
7*26

620,100

5,750,300

873,400

521,200

2,131,400

112,600

817,800

339,300

267,700

27,700

.........
1

.........

2a o b o
3© o 2 o
3 € ri 3 t'43 Pt>
®tH aoi
OrJ<H3«P

125
60,930
2,272
5,423
400
29,081

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THE CHRONICLE.

A pril 4, 1896,}

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

Below ace closing quotations o f m iddling cotton at Southern
and other principal cotton markets for each day o f the week.
o ix M ii. ; Q tr .ir c n o .s s

" A p r il'3 ^ _ Sadur.
G a lv eston . .
New Orleans
M obile . . . . . .
S avannah...
C harleston.. *
WHminKtou.
Norfolk
B o s to n ........
B a la m o r e . .
Philadelphia
Augusta-----M em phis— i
8t, L ouis___
Houston —
C ta em n ati..
L ou isv ille...

" u i«
7%
7%
7*a
7%
T>-«
7%
s v
75i
7%
7%
7 1 -ij
7%
8

Man.

f o r m id d l is s cotton on—

Wed li es.

lu es .

TH, „
7%
" is
7»|*
7ht
7%
7%
7*s
7% *
S’-s
75s
7®|«
7%
71-Ms
7%
7 ‘H

7\
TH
7*16
Z*l«
743
731
S i 18
> ihe
7 7%

7H
7
7 hi
7®is
7%
7H
71*11
7 78
7%
§ »!«

FH.

TH
7%

*
1
I
;
;
J"

£ is
if?
7 «t«
t ’A
7 7a
8%
i o ‘ ia
7®l«
7%
7%
7%
7=s

Z a >s
z >
7\
7=8
7%

7%
73-4
7«s
74*

Xhitrs.

X3;

:

R e c e i p t s f r o m t h e P l a n t a t i o n s . —The

follow ing table
Indicates the actual movement each week from the plantations.
The figures do not include overland receipts nor Southern
consum ption: they are simply a statement o f the weekly
movement from the plantations o f that part o f the crop w hich
finally reaches the market through the outports.
Wmk
[ Itemipt KAt the Port*. St'k « f int&ti&f T&unt*. m e ’ rts fr&m PlmiPnt,
Mfyiimj—

j JttHL y m m .

m >L ; m m .

wm.

I 07.831*4 #h,h§i;

F ob ,
Meta.
*«

m i .w j

r

a

88,280 M S g n
n j t m 404,814
49J8&I
m pipo
4
u m ?*> 7$*S37
$U„.. J S4J314 U%.Ml <30.® *2 .245,342
imjs&i

**
A p t,

SMShU,

i m L i l&m, | 1890,

n i i 120,809
41
S584J88 w 22:105,067 j
48,itmi m . m
314 m y n s , m y
i
■■msm
v..%

68,155
58,571
i
tt# m
S7,CS%

The above statement show s: 1.—That the total receipts
from the plantations since Sept. 1,1895. are 5.081,196 bales; in
1891-93 were 1,581,366 bales; In 1838*94 were 5,691,411 bales.
3 .—T in t although the receipts at the outports the past week
were
bales, the actual movement from plantations was
only 37.6(h) bales, the balanoe being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the week were 68,751 bales and for 189! they were
88,655 bales.
O v e r l a n d Mo v e m e n t

for the

W e ek

and

S in ce S ep t . L —

W e give below a statement showing the overland movement
fin th » week and since September 1. As the returns reach ua
by teif-graph late Friday night it is impossible to enter so
largely into detail as ui our regular m onthly report, but all
the principal matters o f interest are given, this weekly
publication is o f course supplementary to the more intended
m onthly statements. Tile results for the week ending Apr. 3.
and since Sept. 1 in the last tw o years are as follows.
1894*95.
A p r il %
Wmk.
8kipp«d~~
VI* C a i r o . . . . . — „« . . . . . .
Tin Parlwsr CHy.. . . . . . . . . . . . . . . .

Via

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

Via other tm ttm , See. . . . ......—

@,G31
7, ft

Sept, 1,
471,708
217,173
15,740

4
10
l ,OvMi
1,040

119,257
83,880

1-1,087

Wmk,
15,295
1*500
79
4,713

Since
Sept, l
830,880
308,540
34,545
8,005
159,717
153,609
131,846

987,757

3 i.787 1,619,722

Dalm i $
Ovorlaml to N. V,„ Bmum.* «&©..
Between lo t ■‘i lor towna.* . . . . . . .
iolauil,
from io tttli....-,.. . .

7,31.7
§7

227,045

2,389

•12,014

■

w,
1.108
2,108

445,577
27,704
61,186

Total to tm d M n o te d ,.. . . . . . . .

9.773

272,067

22,975

334,467

f^ arlosf total net orerlaod*'..
4,311 715.890
* loofaiiitJAt. roovemerit by rati to Canswia.

11,792 1.085,255

The foregoing shows that the week's net overland movement
this year has been 4,314 bales, against 11,793 bales for the
w e e k in tH9 «, a n d that for the season to date the aggregate net
o v e r la n d exhibits a falling off from a year ago o f 869,569 bales.
1895-98.
In flight mnd Spinner#'
taking#.

Week.

K#oei{>t* m port# to Apr. 3 . . . . . . .
Net »y«rl»*id to Apr. 3 . .. . .. . .. . .
^oathtiTo eons am p Won to Apr. 3 ..

Since
8epL 1.

1894-95.
Week.

Since
Sept, 1.

00,202 4.828,014 110,707 7,343,785
•1,314 715,090 11,792 1,085.285
17,000 602,000 17,000 533,000

Totml m a r k e ted ____ . . . . . . . . . 81,610 6,140,001 146,359 8,964,040
Interior stocks in ex cess . . . . . . . . **22.512 201,283 *48,018 218,581
Csrne into sight dnrtosr week.
Total in sight Apr. 3 . . . . . . . . .
NorUi’ n »plmier»tak'v» to Apr. 3..

59,001

97,513
6A01.886

9,182,621

14,709 1,394,810

39,7904,903,127

It will be s*'<>n by the above that there lias com e into sight
during the week 59,004 bales, against 07,513 bales for the
same we-*k o f 1895, and that the decrease in am ount in sight
to-night as compared with last year is 3,730,735 bales.
W

eath er

R epo rts

by

T e l e g r a p h , —R eports to us by tele­

graph from tin South this evening are o f a fa irly favorable
character. Although rain has fallen in m ost localities, the
precipitation has been light as a rule and during m ost o f the

647

week the temperature has been seasonable. Farm w ork is
making, good progress generally, and in Texas farmers are
well up with their work.
Galveston, Texas.—The weather has been favorable for
farming operations the past week, except that the cool wave
on the ist and 2d will have a tendency to retard planting to
some extent over the northern portion o f the State. Planters
are behind in their w ork in a few localities, but as a rule op­
erations are well advanced except in Northwestern Texas,
where rain is needed to pub ground in working condition and
furnish moisture enough to. cause seed to germinate. Nearly
half the crop is reported planted over the southern portion of
the State and planting is progressing rapidly. Planting has
not been commenced over the extreme northern portion.
Palestine, Texas.— There has been rain on tw o days during
the week, the rainfall reaching sixteen hundredths o f an
inch. The thermometer has averaged 63, the highest being
84 and the lowest 40. The rainfall duringthe month o f March
reached one inch and seventy-seven hundredths.
Huntsville, Texas.— Cotton-planting has begun. The week’s
rainfall has been ten hundredths o f an inch, on tw o days.
The thermometer has averaged 84, ranging from 43 to 86.
March rainfall tw o inches and ninety hundredths.
Dallas, Texas .—There has been rain on tw o days o f the past
week, the rainfall reaching twenty hundredths of an inch.
The thermometer has ranged from 38 to 87, averaging 63.
March rainfall two inches and sixty-one hundredths.
San Antonio, Texas.— There has been rain on three days
o f the week, the pn cipitation reaching four hundredths of
an inch. Average thermometer 67, highest 90 and lowest 44.
March rainfall two inches and ninety-two hundredths.
Ruling, Texas.—Farming operations are well advanced and
o r p prospects are generally good. The week’s rainfall has
been tw o hundredths o f an inch, on one d iy . The ther­
mometer has averaged 66, the highest being 88 and the
lowest 44. During the month o f March the rainfall reached
one inch and fifty-four hundredths.
Columbia, 7 exits.—Cotton-planting is about two-thirds
completed. Farming operations are more advanced than at
the same time last year. W e have had only a trace of rain
the past week. The thermometer has averaged 66, ranging
from -19 to 34. During the month of March the rainfall was
four inches and eight hundredths.
Cuero. Texas.—There has been only a trace o f rain the
past week. The thermometer baa ranged from 46 to 85, aver­
aging 66.
March rainfall one inch and forty-four hun­
dredths.
,
Brenham, Texas.—There has been rain on one day during
the week, the rainfall being tw o hundredth* o f an inch.
Average thermometer 61, highest 84, lowest 42, D uringthe
month o f March the rainfall reached three inches and twentynine hundredths.
Belton, T ex te,— W e have had rain on one day during the
week, the rainfall reaching four hundredths o f an inch. The
- h- rmorneter is ,s averaged 83, the highest being 86 and the
lowest 40. During the month of March the rainfall reached
n« inch and tbirtv-three hundredths.
Fort Worth, Texas.—But little ground has been prepared
and no cotton planted as yet. It has rained on one day of
ilu: week, the precipitation reaching eight hundredths of an
inch. Tli** thermometer has aven ged 63, ranging from 36 to
S3.
March rainfall one inch and fifty-nine hundredths,
Weatherford, T exa s— W e have had rain on one day during
he week, the precipitation reaching five hundredths o f au
inch. The thermometer has ranged from 37 t o 89, averaging
63. The rainfall for March was one inch and seven hun­
dredths.
. . .
,
.
New Orleans, Louisiana.— We have had ram on one day of
'he week, to the extent o f three hundredths of an inch,
\ypraee therm m-ter 69.
4
M eridian, Mississippi.---’ It has rained on three days ot the
« 1. The thermometer has ranged from 33 to 83.
Shreveport, Louisiana.— There has been rain on two days
during the week, to the extent of ten hundredths of au inch.
The thermometer has averaged 68, the highest being 83 and
the lowest 40.
,
. . .
Columbus, M ississippi—U has rained on three days during
Ihe week, to the extent of eighty-one hundredths of an mou,
The thermometer has averaged 60, ranging from 43 to 84.
Month's rainfall four inches and ninety-three hundredths.
Leland, Mississippi.—It has rained during the past week,
>he rainfall being thirty-five hundredths ot an jooo* the
thermometer has ranged from 33 to 84, averaging 56*6.
Vicksburg, Mississippi.— We have had rain on one day of
the past week, the rainfall reaching forty-four hundredths or
an inch. Average thermometer 53, highest 85 and lowest 44.
Little Rock, Arkansas,— W e have had rain on three days ot
the week, to the extent o f one inch and nine hundredths.
Tne thermometer has averaged 61, the highest being 78 aaji
the lowest 86.
,
, , ■<
Helena, Arkansas.—It has rained on three days ot the
week, on one of which heavily, the rainfall being one inch
and fifty-two hundredths. The thermometer has averaged
6*3, ranging from 35 to 88. During the month of !\tarch the
precipitation reached five inches and seventy-five hum*
dredths, on twelve days.
.
Memphis, Tennessee.— Farm work is active.^ W e have had
rain on three days, the rainfall being one inch and ninetyeight hundredths. The thermometer has ranged from 39*3
to 78*5, averaging 60*6. March rainfall four inches and
seventy-eight hundredths, on fourteen days.

THE CHRONICLE.

648

Nashville, Tennessee.—There has been raia during the week
to the extent of two inches and nineteen hundredths.. Aver­
age thermometer 55, highest SO, lowest 33.
Mobile, Alabama.—We have had rain on one day of the
week, the rainfall reaching twenty six hundredths of an inch.
Average thermometer 66, highest 76 and lowest 53. The
month’s rainfall was seven inches and fifty-nine hundredths,
Montgomery, Alabama.—It has rained on one day of the
week, to the extent of one inch and eighty-three hundredths.
The thermometer has averaged 66, ranging from 57 to 76.
Selma, Alabama.—Rain has fallen on one day of the week,
to the extent of forty hundredths of an inch. The thermome­
ter has ranged from 36 to 83, averaging 58.
Madison, Florida—Rain has fallen on one day during the
week, to the extent of two inches and forty hundredths.
Average thermemeter 61, highest 73 and lowest 41.
Columbus, Georgia.—There has been rain on one day dar­
ing the week, the precipitation reaching one inch and twentyseven hundredths. The thermometer has averaged 66, the
highest being 83 and the lowest 43.
Savannah, Georgia.—There has been rain on one day of the
week, to the extent of sixteen hundredths of an inch. The
thermometer has averaged 69, ranging from 54 to 90. March
rainfall thrte inches and nineteen hundredths
Augusta, Georgia.—It has rained on one day of the week,
the rainfall reaching sixty-one hundredths of an inch. The
thermometer has ranged from 47 to 88, averaging 70. March
rainfall one inch and forty-one hundredths.
Charleston, South Carolina.—Rain has fallen on one day of
the week, to the extent of fifteen hundredths of an inch, The
thermometer has averaged 64, the highest being 81 and the
lowest 52.
Stateburg, South Carolina.—Telegram not received.
Greenwood, South Carolina.—There has been rain on two
days of the past week, the rainfall being one inch and sixtytwo hundredths. The thermometer has ranged from 38 to
74, averaging 48.
Wilson, North Carolina.—Rain has fallen on two days of
the week to the extent of one inch and seventeen hundredths.
Average theimometer 61, highest 78 and lowest 3.3.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at
8 o’clock April 2, 1896, and April 4, 1895.____________________
A pr. 2, ’96.

Apr. 4, ’95-

Feet.
109
23-2
30-5
11-6
31-0

Feet.
10*6
18-9
8-6
30
31*7

N ew O rleans....... ....... A bove zero o f gauge.
M em p his..............
N ashville.............. ....... A bove zero o f gauge.
S hreveport........... .........A bove zero o f gauge.
V icksburg............ .........A bove zero o f gauge.

Liverpool and Alexandria, we now receive a weekly cable o f
the movements of cotton at Alexaniria, Egypt. The following
are the receipts an 1 shipments for the p n t week and for the
corresponding week o f the previons two years.
Alexandria, Egypt,
A pril 1.

R E C E IP T S

AN D

S H IP M E N T S

FO B

FO O K

YH1 .

1894-95.

1895-96.

Receipts (oantars*) ...
This week ...
Since Sept. 1

I n d ia C o t t o n M o v e m e n t F r o m a l l P o r t s .— The receipt3
and shipments of cotton at Bombay have been as follows fo r
the week and year, bringing the figures down to April 3.
B O M B A Y

[V ol . LXII.

Exports (bales)—
To Liverpool ..........
To C outiaentI_____

40,000
5,091.000

1893-94.

17,000
4,448,000

This
Since
week. Sept. 1.

This
Since
week. Sept. 1.,

80,000
4,611,000
This
Since
week. Sept. 1.

5,000 291,000
4,000 256,000;

2,000 238,000
3,000|268,000j

6. -00 276 000
5,000 206>000

j

Total Europe
9,000 547,000,' .>,000].506,0001 11,000 482,000
* A o u n tit is US poaiiJs.
t Of whioh Co Amorim In 1995 9 6 ,4 7 ,9 0 3 bales; in 13 >1-95, 33,093
bales; In 1893-01,13,461 bales.

This statement shows that the receipts for the week ending
April 1 were 40,000 cantars and the shipments to all Europe
9,000 bales.
Ma n c h e s t e r M a r k e t .—O it ■••mortreceived bv cable to night
from Manchester states that the market is dull for varus and
firm for shirtings on account of the holidays. We give the
prices for to-day below and leave those for previous weeks of
this and last year for comparison:
1896.

1395.

8 a4 lt>8. Shirt­ Oott'n
81i lbs. Shirt­ OotVn
32s Cop. ings, common Mid. 329 Cop. ings, common Mid.
Twist.
Twist.
to finest.
Uplds
to finest.
TJplds
Fb.28
Mck.6
“ 13
“ 20
“ 27
Apr. 3

d.
6%
6>,s
67ln
6ks
6*2
68i

d.
®7i8
@ 7%
® 7q
® 7%
®73s
® 7%

s.
4
4
4
4
4
4

d. s.
3 @6
3 ®6
4 W0
4^@ 6
4*3 @6
4 ls2>6

d.
6^
7
8
SJ2
S1^
8*2

d.
413,5
4 '4
44,
413 j
43a
4 13,2

d.‘
d.
8. d.
s
4L3l6®5l2 3 10 S>5
3 10^2/2)6
47a
5
^>5^ 3 11 ®6
4 0 @6
o l4
5*4 ®5'3 c 1 0
4 O^SG
55lfio>6

d.
11
0
1
1*2
1>2
2

d.
3
3B«
331S
3 9,a
3=is
33s

S e a I s l a n d C o t t o n M o v e m e n t .— We have received th s
(Friday) evening by telegraph from the various ports tl e
details of the Sea Island cotton movement for the week. Tbe
receipts for the week ending to-night (April 3) and since
Sept. I, 1895, the stocks to-night, and the same items for the.
corresponding periods of 1894-95, are as follows.
1895-96.
keceipts to A p ril 3.

1894-95.

Stock

This
This
Since
Since
week. Sept. 1. week. Sept. 1. 1896

Total.............................

1895.

232 73,527
4 10,339
4,783

91

63,913
5,182
5,139

7,968
2,214
868

2,694
273
527

236

91

74,234 11,060

3,494

88,699

The exports for the week ending this evening reach a total
Shipments this week.
Receipts.
Shipments since Sept. 1.
of 94 bales, of which 85 bales were to Great Britain, 9
t e a r Great Conti­
Great
This
Since
Conti­
to France and — to Reval. and the amount forwarded to
Total.
BriVn. nent. Total. B ritain nent.
Week. Sept. 1.
Northern mills has been 132 bales. Below are the exports
’95-6 7,000 30.000 37.000 46.000 408.000 454.000 83.000 1.380.000 for the week and since September 1 in 1895-96 and 1894-95.

15.000 15.000
’94-5
40.000 40.000
’ 93-4
’ 92-3 i i , 6 ‘oo 36.000 47.000

3,000 132.000
36.000 386.000
26.000 373.000

135.000 51.000 648.000
422.000 57.000 1.060.000
399.000 67.000 870.000

According to the foregoing Bombay appears to show
an increase compared with last year in the week’s reoeipts of
83,000 bales and an increase in ship nents of 23,00) bales, and
the shipments since Sept. 1 show an increase of 319,000 bales.
The movement at Calcutta, Madras and other India ports for
the last reported week and since the 1st of September, for tw o
years, has been as follows. “ Other ports” cover Ceylon,
Tuticorin, Kurrachee and Coconada.
Shipments f o r the week.
Great
Britain.

Conti­
nent.

Shipments since Sept. 1.

Total.

Great
Britain.

Continent.

4,000
10,000

23.000
9,000

27.000
19.000

14.000
13.000

11.000
12,000

25.000
25.000

18.000
15,000

30.000
27.000

48.000
42.000

36.000
38.000

64.000
48.000

100,000
86,000

Calcutta—
1895-96...
1894- 9 5 ...
Madras—
18959 6 ...
1894- 9 5 ...
A ll others—
1895- 9 6 ...
18949 5 ...
Total all—
189596...
.........
1894-95...

.........

Total.

The anove totals for the week show that the movement from
the ports other than Bombay i s ----- bales ------ than the same
week last year. For the whole of India, therefore, the total
shipments since September I. l-Oi. t n l for th> corraspoa iiag
periods of the t w i previous years, are as fo il) ws,
EXPORTS TO EUROPE FROM A L L INDIA.

Shipments
to all Europe
from —
B o m b a y .........
All other ports
Total .

1895-96.

1894-95.

1893-94.

This
week.

Since
Sept. 1.

This
week.

Since
Sept. 1.

This
week.

Since
Sept. 1.

37,000
.........
37,000

454.000
100.000

15,000

135,000
86,000

40,000
9,000

422.000
140.000

554,000

15,000

221,000

49,000

562,000

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

arrange
ments we have made with Messrs. Davies, Benachi & Co.,°o-

Week Ending Apr. 3.
Exports
from —

Since Sept. 1, 1895.

North' n Mills.

Great France
Great F r’nce
Total. BriVn.
Total.
diC.
BriVn.
<6c.

Since
Week. Sept. 1.

......... 11,648
2,961

2,366 14,014
64 3,025
3,565 17,132
5,310
13 2,355

122 31,106
1,474
3,608
.........

S’ vann’ h, &c
Oharl’ t’n.&c
Florida, <feo.
New Y ork ..
B oston ........
B altim ore..

.........

.........

.........

" ' 9 4 13,567
5,310
......... 2,342

T o ta l........

85

9

94 35,828

6,008 41,836

122 36,188

Total 1894-5

352

259

611 33,317

5,298 38,615

25 33,411

'S5

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

.........

.........

A considerable portion of the Sea Island cotton shipped to
foreign ports goes via New York, and some small amounts via
Boston and Baltimore. Instead of including this cotton for
the week in which it leaves the Southern outports, we follow
the same plan as in our regular table of including it when
actually exported from New York, &c. The details of the
shipments of Sea Island cotton for the week will be found
under the head “ Shipping News,” on a subsequent page.
Quotations April 3 at Savannah, for Floridas, common,
U )£c.; medium fine, I3}^c.; choice, 18)£c.
uharleston, Carolinas, medium fine, 31c,; fine, 34c.; fully
fine, 38c.; extra fine, 30c.
J u t e B u t t s , B a g g i n g . & c .— There has been practically
nothing doing in jute bagging since our last report and quo­
tations are unchanged at 3 / g C . for 1% lbs.. I% c. for 3 lbs. and
4%c. lor standanl grades. Car-load lots for standard brands
are quoted at 3,^c. for \% lbs., 4}^c. for 3 lbs. and
for
2)4 los., f- °- b. at New York, ju t - butts have been uull at
1 1-16c. for paner qudi y and lj^c. for mixing on the spot.
From Messrs. Henry H. Crocker Sc Co.’s circular We ascertain
iliat the deliveries of jute butts and rejections at New York
and Boston during March were 65,171 bales, against 94,885
bales for the same month last year, and since January 1 the
deliveries reached 153,319 bales, against 136,961 bales in 1895.
The aggregate stock in the hands of importers and speculators
at New York and Boston on March 3! was 3,3)0 bales, against
3.750 bales at the corresponding date in 1895, and the amount
afloat for the United States reaches 133,771 bales, against
only 331,930 bales last year.

THE CHRONICLE,

Jlpbil 4 1896, J

Cotton Consumption and O verland Movement to Ap r i l 1.
—Below we present a synopsis o f our overland movem ent,
receipts, exports, spinners’ takings, &e,, for the month o f
March at d for seven months o f the season to April 1, for the
years 1898-94, 1894-93 and 1895-96.
1893-96.
. .. . - .... .
95,790
981,956
61,712
713,356
321,313
4,799,211
475,832
3,788,634
612,152
1,384,294
593,000

1894-95

1893-94

170,338
1,598,180
83,995
1,078,591
532,251
7,250,497
527,789
5,644824
909,508
1,878,014
521,000

79.437
t,062,797
52,150
707,954
257,163
5,475,886
365,380
4,395,804
771,483
1,243,945
49 1,0)0

Gross overland for M a ro h ............ balea.
Gross overland for 7 months...............
Net overland for M arch....................—
Net overland for 7 m onths........................
Port receipts In M arch...............................
Port receipts in 7 m onths..........................
Exports la Mareh .......................................
Exports In 7 m onths..................................
P ort stocks on March 3 1 ...........................
Northern «pinners' takings to April 1 ...
S<»utb.frm spinners*la&ines to April l . . .
Overland to Canada for 7 months (in54,998
79,528
eluded In net overland)..........................
1.919
32,585
Burnt North and South in 7 m onths...
14,451
6,340
Stock at SToitfc'a interior markets Apr- 1
595,219
35 I.M *
Came In sight during M aroh— .
Amount o f crop In sight April 1 ------ — 6,374,567 9,109,038
733,678
9,892,766
Total c r o p ....................................................
507*19
501*43
Average w eight o f bales . .............. .

41,206
911
2,092
287, U S
6.363,640
063,571
7,527,211
495-96

E a s t I n d i a C r o p P r o s p e c t s — F r o m t h e C a lc u tta P r i c e

Current o f d a te F e b r u a r y 28 w e h a v e th e fo l l o w i n g :
Cotton Crop, M adras—Final Foreeast. 1895-96.— fa k in e 18 m u m to
repr tm n t a fall average o a t turn, the average y ie ld o f the crop for the
Provide n©y la put dow n a t 11*5 i n a i s . It la
that the total
a rm under the crop will, by the »l*>*e o f the oarr^nt year, amount to
1,540,000 act*-.*, awl wis.lt a jtO-S l wf 1 1 * i l o o - ’i ) «»*' p«r acre being
taken m the standard yield for th® P rod d oaey —ttr* total out-turn
sbotitd he 138,359 bale# o f t o o ill* ®m.h.
Cotton Crop,
—Fj*i 0, Mamw* indw.®, 1805-98.—i Estimates
generally tip- to l# i Eebravry,
fhw dwtaih-T remark# below mm
eoofined to tho ia k cotton »!r*trS^# and i*r*i M jppiom natwy to those
already m »de
r>g«‘ da the m H y
*>, The ree.opt *>f fw H ln fo wnmtion
to the s-nmih* tm » f she final m*m<»ru't4Min on the
early eotten crop o f tin !>♦?<•«'•♦» u -m
•‘■i*®; ohiugit in she
out-turn 0*ur»*# now rej«irtfr*l for Kb-atid #U and \ timed mg.ir. Th*
total area h-i* f&tlrn *2 per emit helbtr both la*t year and average. The
<leere-«Pfr la moat marked in BUapur and 0hanrar# where, owing to un*
««a*oin*td* rain*. # »vrin<* o»m nea<*e-i late and fill* area w-»* not c o v ­
ered. lk fie l» 8 e i o f raia waa i b o felt la most d h irlofs. The season,
on the whole t*a*« how ever, him® m uca hotter than th© pre-coding one.
There was neither the dareagltMfly heavy m la In Gozar&t nor the
trreguladty o f rain la the O eeea a and Eara ?tak a# la the preceding
year. The oatd B p i i# expected t © he r o a d le r a B lf over Pest year, an
average year.
Final General Mcmor&ndara, 1895-1898. T he t hird note on the cot;
too crop for Ihfr i«'A«on id it.5 *9 0 wan united on the 21st December
1895. ft coQtaloed the duel foreosai o f the cro p in the Punjab, the
Korth-W«*t«*ra Province* and Ontlh. the Gent rat rroriaee# and Berar,
a# well a# o f the early crop la Beagal a i d Boaibay; al-w* the second
fstWCMt o f the iat* nrop In Bo nf» vf and 81 a 4. and the br*t foree ast
for Madrua * o 4 the Silas«a*i territory. The prew ar, which i* the tlnai,
not* o a the ©fop, eook U i* the ftoal iaw otat# to t Madras, the Nizam's
territory, and Kajputaoa, an t o f th»‘ lade e «>j> i»t Bone il nut B mitiav.
No io m e m t ton beau ivertvis*! from the Central India Agency. In the
third note it wa* stated that getiemity i « the ooston-prodaelng Iffttst*.
attlsottgli the apreage wa# below the average 1st cofi^erjae ice o f a
MMUBiy rale full, the rain was tim-dy and wed distributed and the yield
gfrfjfrra Ay. *ri fa r# # the crop had b*oa picked.
good &§ regard# both
q u a n tity and quality, while the pro#pecto o f the lata crop were also
good '
Th reports which have now been received show t in t the crop is

lin ger t ban the average.

For the whole o f the reporting area the out-trim Is estimated at about
2,203,590 bales, v t o i h la largely in excess o f last year.

L iyrrpool STOCK. —A re-count of the stock o f cotton at
Liverpool on Saturday, March 98, showed a reduction o f 37,683
bales in the total stock, made up o f 6,382 bales Americtn,
16,180 Egyptian, 5,780 East Indian and 7,330 sundries. The
total stock at that date was 1,128,333 biles, o f wnich 964,823
bales w ere American.
T h e F o l l o w i n g a r e t h e n a o s s r e c e i p t s o p C o t t o n at
N e w (fork, B o a t o n , Pniladeiphia and B a ltim ore fo r t h e past

week, and sin ce Septem ber 1, 1893.
ff»w Y o r k .
HtcHpia
from—
S . OTlmm.9„.

80*70!*

PflILAn*I.PH,A BA LTINOlilS.

This
Mine*
Th 1# Since
TM* Minst
w*tlie. 8 * p t .l. vn»k. S tp i.l. *et*k - 8*pt. 1
%ms
4.&W2 VtHjMtt?
M&M7

Th4f Since
vfttk. 8tt t

649

Total bales
N e w Y o r k —T o Liverpool, per steamer Gsorglo, 13,859 upland
and So Sea Island..... ................................................... ............. 13,944
To Hull, per steamer bepanto, 1 7 1 .......................... .................
To Manchester, ner steacu-r Hogarth, 2 8 4 ..............................
To London, per steamers America, 1.175 ..Ontario. 5 0 0 ... 1,675
To Havre, per steamers La Normandie, 114 upland and 9
Sea Island___Taormina, 1 0 0 ......................................... ...........
253
To Bremen, per steamer AUe , 2 3 1 ............................................
231
To Hamburg, per steamer Moravia, 1,025..............................
1,025
To Rotterdam, per steamer Maasdam, 150........ ...................
150
To Antwerp, per steamers British King, 419 ... Southwark,
431 .......... ........ ................................... ..................... ....................
883
To Malaga, pec steamer Italia, 1,50 J ...................................... 1.500
To Gen ia, per steamers Bins, 763 ...Ita lia , 6 7 0 ...................
1,433
To Naples, per steame s Bms. 2 2 3 ___Italia, 6 5 .....................
288
N sw Obleans —To Liverpool, per steamers Dictator, 7,201___
Texan, 5 ,8 5 1 ............................................................. ................. 13,052
To H avre, p er steamer R ydal Hall, 6,780...................... ........... 6,780
To Narva, per ship Heinrich, 4,4 69.......... ................ ............... 4,459
To B troelona, p-,r steamer Miguel Jover, 2 ,6 0 1 .................... . 2,6 >1
To Venice, per steamer Highlander, 1,300..........................
1.300
Ga l v e st o n - T o Bremen, per steamer Oberon, 3,642..... ............. 3,642
To Hamburg, per steamer ConUoliff-*, 1,150______ _________ 1,15ft
T ex a s O ix r—T o Bremen, per steamer Oberon, 250.................... .
250
Mo bile —T o Liverpool, per stea ner Venus, 7,0 12........................ 7,002
P ensacola —To Liverpool, persteam er Leonora, 4 ,4 0 0 .............
4,400
S avannah —'To Reval, per steamer JFernd ne, 4,125....................
4,125
To St Petersburg, per steamer Scaw Pell, 5,ou0..................... 5.500
To Hango, per steamer Seaw Fell, 1,000.................................
1,000
To Riga, per steamer Perndeue, 6 0 0 . . . . ......................... ......
500
B runsw ick —T o Liverpool, per steamer Inish 'w sr Head, 4,058 4,058
To Reval, per steamer Dnnmore Head, 1,604.......... ........... 1,604
Git arlestos — Co Gefle. per bark Orion, 1,000 ........ . ................ 1,9J0
P ort R o y a l Co Liverpool, per steamer Tropea, 5,391 upland
and 40 Sea Island .................................. ........ ............................ 5,431
N orfo lk —To Liverpool, per steamer Bretwalda. 3,124.............
3,124
To Hamburg, per steamers Barden Tower, 8 0 0 ___Soandia,
1,000 . . . ................................................................................
1,800
To Ant worn, p ersteam er March, 1,300 ..... .....................
1.300
B oston —it) Liverpool, per steamers Mlohigan, 1,085 ...O t t o ­
man, 1,06 r u aland and 30.) Sea Island___Sylvanla, 2,057
V 'etoriau, 10,6 >2 upland and 1,2-us 8 e i Island ................. 16,316
B altim o re -T o Mverpo il, per steamer Ulstermore, 2 ,0 1 0 .......
2.010
50)
x’ i H iv re, persteam er G oviao, 5 0 0.................... .......................
To Lt itterdxm, per steamar Tamoieo, 1 0 0 ................. .............
100
ISOTo Antwerp, per steamer Belgian King, 15 0...........................
P h ila d e l ph ia - Co Liverpool, per steam er Rhynland, 523 . . . .
323
125
Co Antwerp, p -r -n a m a r Pennsylvania, 12s. ......................
Ban F rancisco — Co Japan, per steamer China, 1,1 00.......... ...... 1,100
T o t a l .,............................................................................................ 117,722

The particulars o f these shipments, arranged in our usual
form, are as follows.
Hull.
Bremen Other
Liver- Mimefr.
d Ham- North South
p .ol.
>.( Lon.Havre,burr) Europe Europe. ■Japan. Total.
New Y ork. 13,914
2,413 2 ’,3 1,256 1,03 1 3.221 ......... 22.120
. 6,780
.... 4,459 3,901 ......... 28 192
N. Orleans, --------13,052
4,792
. . . . . . . 4,792 . . . . . . . . . . . . .........
Galveston............
250
. . . . . . . 250
. . . . . . . . . . . . .........
Texas City .........
.........
7,002
d o o lie .......
7,003
.......
4.400
P ensacola. 4 ,i0 0
......... 11,125
.........11,125
javaunan,.
.........
5,662
......... 1,604
4,058
Brunswick
.........
1.900
......... 1,900
Charleston,
........
5,431
port Royal 5,131
.........
6,224
i',800 1,800
N orlolk ___ 3,124
......... 16,316
Boston. — 16,316
........
2,760
250
500
Baltimore., 2,010
.......
448
125
323
PntladelV.
1,100
1,100
San Fran..
T o t a l.... 68,680

2,413

8,088 21,7.40 7,122

1,100 117,722

G a l v e st o n - To Liverpool—March 3 1 —Steamer Gracia, 5,585.

To Manchester—March 2 7 —Steamer Leny, 8,800.
To Hamburg -M arch 26—Steamer Fulwell, 600.
T exas Ci t y — io Manchester— March 27—Steamer L cny, 1,100.
New O r l e a n s - T o Liverpool—March 2 7 —Steamer Mexloan, 7 ,5 1 0 ,...
March 28 -Steam ers Assay.:, 7.43 5, Navarro, 6,218.
To Mi nc h ister—March 28—Steamer Rain rade Larrlnaga, 8,400.
To Rotterdam—March i l —Steliner Cusoir, 250.
To Copenhagen -M aroh i l —Steamer Charting Cross, 2,412.
P ensacola —To L iverpool—March 2 5 —Steamer Leonora (additional),
58.
S a v a n n a h —To Barcelona—Maroh 28—Steamer Corona. 3,350.
C harleston —I'o st P cerd jurg—April 1—Steamer Willowdene, 6,635.
Norfolk — To Liverpool —M arco 3 1 —Steamer Bretwalda (additional),
630.
B o st o n — To Liverpool—Maroh 20—Steamer Cestnan 5,293 ..M aroh
2 7 -S team er Angloman, 2 5 0 8 ___ March 23 -S tea m er Bothnia,
1.523...Maroh 30—steamer Sachem, 5,085.
B altimore - To Liverpool—March 26—steamer Rosstnora, 291.
To Brem en—March 27—steam er H. H, Meier, 1 ,50 1)....April 1—
Steamer Roland, 2,9 5 <■
To P. itti-r lain—March 37—Steamer Urbltio, 109.
P h ilad el ph ia - To Liverpool -M arch 27—Steamer Pennland, 223.
Sa n F r a n c is c o —To Japan—Mareh 2 1 —Steamer Balgle, 1,050.

Cotton freights the past week have bean as follows.
Sutur.

tt'Ztt

7,533

Below we add the clearances this week oE vessels carrying
cotton from United States ports, bringing our data dow n to
the latest dates.

Mon.

lu es.

Wednes. Tfmrs.

......

3,199

1,959

Fri.

it x m

5 40% 5
116
he
181
Liverpool, thr'h.rf.
—
....
—
....
Do
local..rt
s39
.....
251.
251
251
251
......
25!
H avre.. ............ .c
ST* m sm
.a
....
..
D unkirk..............e
if* ml 24,im
....
201
201
201
201
201
MO, i$,$9S w
2,000 £S.5S9 B rem en............... e
tr»
78,9ga
.............. c
Do
......
im M t
* .* » .......
23)
231
231
23-t
23t
438 4.5,133 Hamburg .......... a
36,093
47.<m
910
S2,704
.. .
....
....
. *.»♦
............c.
Do
e.mr
IS. 7,11 ......
19 22ist 19-2 i W 19-23)31 19 -22V
T o ta l...... 1
i 5,7M 1,397 145.3U A m sterd a m .......c. 19-22)91
065
$UM9 le.tus 197,721'
Dei
D-64
Do
Reval, v. Hamb d.
U«4
»8 4
4,300 270,242
lrU t,170 aerw
3^.195 i j£ $
351
35t
35t
351
35)
Do v. HaJU.-.rf.
....
....
...
....
Bi i i p p i n o N ew s .—The exports o f cotton from the United B arcelona.......... d.
291
29t
291
291
29f
States the past week, as per In fest m a il returns, have reached G en oa ..............-.A
B
32a
i i 6t
117,722 bales. So far aa the Southern ports are concerned these T rieste............... d. 532®l,6l 5/2 ® 1[16t u33® n f 4 S39®1184
561
544
5ci
5«4
SSI
are the same exports reported by telegraph and published in Antwerp............. d.
7)4
7r,x
7fl»
7«»
7«*
th e OBBONIC l e last Friday. W ith regard to New York we Ghent, v. Antw’ p.d
V Gents net p er 100 lbs.
Include the manifests o f all vessels cleared up to Thursday.
Savsusi'b Me
MfrMf# , *a«»
Ftof1c!&........
So. Caroltea
Hu. Carolina
Y frgitifa. . . .
?Yorth. port*
Tfsa».,. Ste....
9omtgn..,..,

s

E

I
:
;
;
«
; .

THE CHRONICLE.

650

L iverpool .—By cable from Liverpool we hav j the following
statement of the week’s sales, stocks, &c., at tnat port.
Mch. 13

Slch. 27

Mch 20

Apr. 3

39,000
65,000
52,000
49,000
Bales o f the w eek........... bales
1,900
1,000
1,400
Of w hich exporters cook
1,200
500
700
O f w hich speculators took ..
36,000
43,000
40,000
59,000
Sales A m e r ic a n ........................
9,000
3,000
8.000
4,000
Aotual e x p o r t.......... ....... .......
64,000
72,000
74,000
74,000
Forw arded.......... ............. .........
1,121,000
1,104,000
Total stock—E stim ated............ 1,153,000 1,148,000
Of whloh American—Estlm ’d 970,000 949,000 971,000 901,000
68,000
91,000
30,000
73,000
Total Im port o f the w eek ........
54,000
80,000
76,000
*2,000
Of whloh American ............
164,0 0
173,000 190,000 135,000
Amount afloat......................
145,000 170,000 116,000 145,000
O f whloh 4-inerioan.......... .

...

[VOL. LX1I.

features of importance changes in prices have been fractional.
Business in the spot market has been quiet, but owing to
small supplies prices have been quoted firm. Wednesday the
sales included steamer yellow at 37t^c. in elevator and 3S%c.
delivered; No. 2 yellow at 37^o. in elevator; steamer white at
37@37J^c. in elevator and No. 2 white at 27%@28c. in ele­
vator. Yesterday the market was dull but steady. The spot
market was quiet and unchanged. The sales included No. 2
mixed at 37%c. in elevator, steamer mixed at 37%c. in ele­
vator and 38^c. delivered; steamer white at 37J^o. in ele­
vator and steamer yellow at 37%c. in elevator.
DAILY OLOSING PRICES OF NO. 2 MIXED <30RN.

The tone of the Liverpool market for spots and futures each
day of the week ending April 3 and the daily closing prices May d eliv e ry ..............
July delivery............. .
o f spot cotton, have been as follows.
September d elivery..,
Saturday Monday. Tuesday. Wed'day. Thursday. Friday.

Spol.
Market, (
1:45 p. m .J

Small
Inquiry.

Mld.Upl’ds

43s

Bpeo. & exp

6,000
300

Quiet hut
Steal? 1 Moderate
demand. Harden’*? steady.
4%
8,000
500

413g-j

41332

41%2

8,000
500

10,000
500

8,000
500

Futures.
a Steady at Quiet at steady ai
Market, £ Steady
partial!* 1 64 @2-61 partially 1-64 @2-64
1:45 p . m . ] 1. 61 dec. advance. 1-64 adv. decline.
Market, ?
4 P. M. \

Quiet.

8teady.

Steady

Barely
steady.

Very
steady.

>
03
<3
C
tl

Steady.

The prices of futures at Liverpool for each day are given
below. Prices aye on the basis of Uplands, Low Middling
elause, unless otherwise stated.
The prices a re given in pence and 64th.
3 63-64<Z., and 4 01 means 4 1 6 t <i.

T h u s:

3 83 m eans

Sat u r.
I t lo ii.
T r ie s .
W ed.
T lm r s .
M arch 28 to
A p ril 3. 12% 1 1:45 4 1:4 5r 4 1:45 4 1:45 4
P.M. P. M. P.M. P.M. P.M.!P.M. P. M. P. M. P. M. P. M.
M a r ch .........
M ch.-A pril..
A pril- M a y ..
M ay-June...
J u n e-J u ly ..
J u ly -A u g ...
Aug.-Sept...
S ept.-O ct...
Oct.-Nov ...
N ov.-D ee.. .
D ee.-J a n ...
Jan-.Feb .. .

d.
4 17
4 16
4 15
4 14
4 12
4 12
4 O'!
4 00
3 60
3 59
3 59

d.
d. i d. 1 d.
d.
4 16 4 1« 4 18 4 19;4 19
4 1514 16 4 17 4 18|4 19
4 14|4 15|4 16 4 17 4 18
4 13 4 15 4 15:4 1«|4 17
4 11 1 13 4 1414 14 4 15
4 1 1 4 12 i4 13 4 13 4 14
4 07 4 09 4 10 4 1014 11
4 00 4 0114 02 4 03 4 03
3 59 3 60 3 62 3 62; 3 63
3 58 3 59 3 60 3 0113 61
3 58 3 59 3 60,3 61 3 61
.... .... ....i ....

d.
4
4
4
4
4
4
4
3
3
3

d.

19 4
18,4
17 4
15 4
144
11 !4
05 4
63 3
61,3
61 3

d.

18
16
15
13
13
10
02
61
59
59

4
4
4
4
4
4
4
3
3
3

18
17
16
14
13
10
03
61
59
59

18
17
16
14
13
10
02
61
59
59

May delivery................. .0.
June delivery.................
July delivery................. .0.
August d elivery........ .0 .
September d e liv e ry ...., .0.
D ecem ber d e liv e r y .... .0 .

Sat.
70%
69**
69%
69%
....

Mon.
70
69%
69 %
69 %
69%
71k!

Tues.
70
69%
69%
69%
69%
71%

Wed
70%
70
70
69%
70
72

Thurs
701*
70
70
69%
70
72%

Thurs
35%
36%
37%

DAILY CLOSING PBIOES OF NO. 2 MIXED OATS.

Sat.

Von.
24%

May delivery....... 24%

Tues.
24%

Wed.
24%

Thurs.
P r i.
24% H ’ day

Shippers have continued fairly brisk buyers of the shipping
grades of barley at steady prices, their purchases for the week
amounting to about 200,000 bushels.

GRAIN.

,

DAILY CLOSING PRICES OP NO. 2 RED WINTER WHEAT.

Wed.
35%
36%
37%

Oats for future delivery were quiet and easier early in the
week in response to weaker advices from the West, but sub­
sequently there was an advance owing to a brisk export de­
mand and unfavorable weather conditions for the growing
crop. In the spot market business has been fairly active, as
shippers have been buying, their purchases for the week
amounting to about 300,000 bushels. Wednesday the sales in
eluded No. 2 mixed at 24%c. iu elevator and 26}%}. f. o.
afloat for delivery in middle of April; No. 2 white a
26a. in elevator and white clipped oats at 27c. f. o. b. afloat.
Yesterday the market for futures was dull but steady. The
spot market was moderately active and Arm. The sales in­
cluded No. 2 mixed at 24%@25c. in elevator and 23$26J^c.
f. o. b, afloat, April delivery; also No. 2 white at 26c. in
elevator.

Corn, per bush—
0
0.
0.
0.
West’n m ixed ___. . 37% ® 40
68% a 76%
37%
®
79 t? 81%
No. 2 m ixed..........
39%
74 ® 82
W estern y e llo w ... 37% ® 40
.... @
Western W hite___ 37% a 40
2 l% © 26% R y e—
....
24%& 26
Western, per bush. . . . .
24%® 253i
State and J e r se y .. ___ ®
B ariev—W estern ,... 39 ® 45
26 u 27
34 t* 38
Feeding...............

Wheat—
Spring, per b u sh ..
Red winter No. 2 ..
Red w inter............
W hite.......... ...........
Oats—Mixed, per bu.
White......................
No. 2 m ixed..........
No. 2 w hite.........—

April 3, 1816.
There has continued a very tame and uninteresting market
for wheat flour. Buyers have been very indifferent operators
and would trade only at concessions. Holders, however,
have shown no particular anxiety to make sales and have held
prices steady; consequently business has been practically at a
standstill. A limited amount of business has been trans­
acted in city mills at unchanged values. Bye flour has been
quiet but steady. The season for buckwheat flour is prac.
tically closed. Com meal has received slightly increased at­
tention at steady prices.
There has been a dull and spiritless market for wheat
futures. Early in the week prices barely changed, but subse­
quently there was a fractional advance on buying by a few
“ shorts” to cover contracts, stimulated by unfavorable crop
accounts from some sections of the West. In the spot mar­
ket business has been quiet but prices have held steady.
Wednesday the sales included No. 1 Northern at about 3c. over
May f.o.b. afloat and No. 2 hard Manitoba for April-May ship­
ment, but the terms of the sale were kept private. Yesterday
the market advanced slightly during early ’ Change on unfa­
vorable weather conditions in the central sections of the
West for the growing crop, hut later realizing sales caused all
of the improvement to be lost. In the spot market a limited
amount of business was transacted with shippers. Their
purchases included No. 1 bard spring at 3%c. over May from
Store and 5>£c. over May f.o.b, afloat; also No. 1 Northern
at 2%c. over May f.o.b. afloat.
ay

Tues.
35%
36%
37%

FLOOR.

8 R E A D S T U F F S .
F r id

Mon.
35%
36%
37%

(f in e .--..-....... $ bbl. $1 75® 2 25 Patent, w inter...........$3 7 5 ® I 4 10
4 10
la p e r fln e ................... 1 80® 2 40 City m ills ex tra s.......
S itra, No. 2 ............. . 2 30® 2 65 Rye dour, superfine.. 2 45® 2 90
I 25
Extra,No. 1 ............... 2 50® 3 00 Buckwheat f lo u r .....
Clears....................... . 2 65® 3 40 Corn m eal—
W estern, &o............ 2 10® 2 15
Straights.................... 3 30® 3 75
Patent, spring.......... 3 50® 3 85
B randyw ine............
2 20
I Wheat flour in saoks sells at prloes below those tor harrels.]

d.
4
4
4
4
4
4
4
3
3
3

Sat.
35%
3b%
37%

The movement of breadstuffs to market as indicated Id the
statements below is furnished to us by the Statistician of the
New York Produce Exchange. We first give the receipts at
Western lake and river ports, arranged so as to presen ti e
comparative movement for the week ending March 28, 1S96,
and since August 1. for each of the last three years:
Receipts at—
Chicago.........
M ilwaukee..
D uluth.........
Minneapolis.
Toledo..........
D etroit.........
Cleveland...
St. Louis.......
Peoria.........
Kansas City.
Tot.wk.’98.
Same wk,’95.
Same wk,’94.
Since Aug. 1.
1895-90 . . . .
1894-95 . . . .
1893-94 . . . .

W heat.

Flour.

Corn

B a r Leg.

Oats.

Rv$.

Bbla.lMlbx Buih.QQ16# jBuj6.50 lb Buth.SiU Bush .48 P B u .5fl lb<
314,290
26,00 0
150,770
2,224,785
33.598
1,512,018
lO.SOO
106.000
124,000
IST.loO
00,450
07,500
8,473
1,035,431
99,329
42,120
7,940
87,341
32,130
1,103,840
212,280
2,683
800
19,7 0
71,000
600
1,200
1,318
3",510
32,750
3,903
46,028
43,723
615
14,320
10,798
16,739
3,097
108,969
47,250
21,075
306,075
198 000
3,000
5,250
13,800
66,500
342,500
299,100
8,614
178,289
152,0*1
245,808

2,695,131
1,803,132
1,483,014

2,38 \9 >9
1,241.9 -54
2,185.928

3,218 568
1,481,959
2.029,553

685,319
373,831
419,141

52,170
61,700
63,280

7.895,712 165,388.376 87,210,295 102.493,373 33,203.173 3,036.754
8,455.473 122,037,946 57,135,293 63.337.571 29,069,748 2,028,988
8,793,831 125,933.419 116.452.772 85,290.636 23,47 \3fl4 2,603.084

The receipts of flour and grain at the seaboard ports for the
week ended March 23, 1893, follow:
Flour,
bbU.

New O rleans........
204,901
Week 1895............ .

Oats,
bush.
067,2 0
245,040
13 007
63 2*3
43, / 5 l
3,532
51,4)0

Barley
bush.
144,300
700
4,817
21,200
714

133.221 1,322.761 1,093.233
314.592
570.181
722,018

173,731
94,050

W heat,
bush.
18,5<'0
07.547
1,317
11.107
13.2)0
11.274
10,210

Com,
bush.
230,100
24,778
13.838
458,536
18,060
576,48)

R jt,
’* « ' .
1,950
.............
2,812
........... .

............
4 76 2
7.755

The total receipts at ports named in last table from Jan 1
F tx. to March 28 compare as follows for four years:

The speculative dealings in the market for Indian corn
futures have been extremely slow, and in the absence of new

1890.
2,8d0,749

1895.
3,822.133

1894.
4,560,087

1893
4,270,269

.bush. 3.431,746
.. *'
1H.8Y7.958
“
9,880,013
“
1,801,492
319,772
ye................... *

4,158,190
7,155.190
7.011,905
1,196,531
100,338

3,131.718
19, <70,110
7,892,907
1,495,3 SI
72,202

8,643,729
10,934,259
8,719.849
1,964.709
172 774

Total grain.............. 34.384,531

19,705,174

31,962,878

30,435 320

F'our................. ..bbls.

A pril 4, 1896.J

THE CHRONICLE.

651

The e x D i r t s r>Ja . l.,- several seaooard ports for the ween
ending i l t r c i 28, 1890, are shown in cue a n a ex el siatetnen.

The value of the New York exports for the year has
rieeo §2,346,182 in 1896 against $3,068,733 in 1895.
Business in brown sheetings and drills on home account has
hmit.
Exports from —
again been restricted but exporters have bought fairly.
44.243
... m.'A$
£1.601
Portland . . .. ...
21. is i Apart from leading exnort grades, which are steady, prices
are irregularly in favor o f buyers, although not quotably
dwa m m
a <jn o
S53,tk7
8,637
573 lower. Brown ducks and osuaburgs are slow o f sale although
BMticaore.,. . . . . .
1,315
485,856
1.355
New Orleans.***
...........
2 id 500
easy to buy. There have been no further changes in the
Newport News .
prices o f bleached shirtings. The recent reductions have
37,476
273,100
OaH'eatoa *„ . . .
been coldly received by buyers, and business continues dull
•342,171
1,351,3 »
217.033
52,870
Total week ...
25,373 in all grades with considerable irregularity. The demand fo r
7:1^215
254,600
5,016
. . . . ..
20,300
Same time W&o.. . . . fii?*5,495
I’ho destination o f these exports for the week and since denima is still confined to. small quantities, but prices are
Sept, t, 1895, is as t--low. We add the totals for the corres­ fairly steady. Supplies have been considerably curtailed by
reduction in output. Other coarse colored cottons are slow
ponding periods o f last year for com parison:
and irregular. W ide sheetings dull and unchanged. K id—-------n our,—— — * -------— WhML*------- *
Since- Sept,
Week
Since Sept,
Week ■Since Sept. fiuished cambrics inactive and irregular. Prints are quiet in
Week
Exports for
Mar, 28 L 1805.
Mar. 28.
week and since Mur. tS. 1 , 1805.
t 1895.
tiie aggregate and sales reported in fan cy prints at reduced
5 USA.
DusA.
bbls.
tnisn.
bush.
Sept. 1 t o bbU.
278,34.0 18,205.002
r 8o.72l 33.324.761 prices, although leading makes are steady. Fine specialties
United Kingdom 107,451 3,065,140
776,i 2 1
6.767,348 927.478 2 ), 310,265 in moderate request.
167,2; 3
Continent .. . ...
81*358
Dress ginghams inactive at first hands
13,306
.. . .. ..
7*X)
331.496
8 . A 0 . America
lo.dia
Staples dull at previous prices.
3.5 AJ
707,380
5.94 &
W edtindies... ..
14,*30
470,725 and prices low and irregular.
7,740
3.60)
302,703
218,114
31,4)7
Brit. N\ A. Co-’s.
Print cloths are held steadily on the basis of 2J^c, for extras,
'iii.s io
853,434
43,077
2.331
m t .u s
Gt&er eoimurfes.. 15,118
but there has been no demand o f any moment.
Wheat*
bmh.

Corn,
DU8&.
141,134

Stour
bbts.
80,333
37.101
3ftV«rt*
$.731

oats
bWh.
206,73)
10,133
....

...

Total
T otal

..

Peas
bush.
3.661

...

_____

811,171 7,661*870
851,880 7.034,226

402.143

2S.4W.»J4$

1.051,60 59.40S.398
732.215 12.3 55,2^3

The risible supply of grain, com prising the stocks in granary
at the pri imp it points o f accumulation at iaka and seaboard
por s, March 88, 1898, was as follow s:
Wnmt,

la- store «§—
.
1,821,000
Hew f o r * . - . , .
i o ttjm
Do
afloat........
^

1.2t

0©

i 000

a floa t....*,
,48,413.000
* d e « t . . ... . , 716,000
............ , 4lu.utio
afloat. . . . . .
170,000
D a lit* ...................... 43*45-4.000
SW,W*)
145
afloat .....
Tcsi*i© ... . . . . . . . . . . U 5,000
Do
afloat..........
Detroit ......................, 2 04 .W
*>e
a flo a t.......
Ottwwo . . . . . . . . . . . . . .
St. U to t*................... U 8 ..um*
Do
afloat..........
i x jm
Cincinnati..................
B m cm . . . . . . . . . . . . . . . .
m jm
Tor mm. . . . . . . . . . . . . . .
k tom rm l--------. . . . . . .
118.0*40
Ptiiledelphta...........
Peoria........ .
15.000
75,000
Inm m m m m , .. . ...
Xinm*m i n . . . . . . . . . . . . um'jffi®
l i 7,00*3
Baltimore — . — .. ..
ttteaftBpesUu. . . . . . .♦J iu fc ft W
On Mi*§*«*tppl m rm ,
On Imkm,,.... . . . . . . .
On emunt and r ir a r ...
Do

Total Mar. W, UM.0«j£f6,0QO
Total Mar Ei*
Total Mar, »>.
Tot*i Apr, 1*1*44,:- i
T ot il A pr. 1. 1893 7

THE

DRY

Com,
bmh.
200,000

iMU*
bmn.
M04.0OO

Rye,
bmh.
5,000

Barley
bus..
04.00*

19S.000

*15,000

10,000

*38,000

15,6 6 6

38UOOO

35,066

1 *0,000

35,000
27*000
MS.lKiO
l 7U .* »
1*123*000
17.000
t m ooo
i.WMwu

2*>5,06t4

m £(>Z

m ooo

*b i j m

im*,odu

i 1.000

11.0 0 0

13,000

1 itjsm

$5,000

6,0

4,U00

1 , 120,000

titjm

*u m
j \ ijm

s i e .e n
167*000
m m ts
xm $ m
67n jm
mjzQo
m um

15.8
%nM

44U »u

" * .0 0 0

24,000
5^.000
fty.i>40
900.000

2,000

42.000

” 6,040

*
62.000

M i Mm

¥,600

2,000

rxjm i>
W 'l W
791.006

"

tO.&JU
86,606

fib
H;$,i;00
118,000

m >w

*i i j m
>o

M * 8,040

4,0»J©
6.184,0*30
t j 4Kom

GOODS

N ew Y o r k , F r id a y ,

SH7.O0Q
445*000
005,000

1.105.0 »0
1.204.000
036*000
1.416.000

TRADE.
P. M., April 3, 1898,

The backward condition o f the retail trade here and else­
where has been a serious draw back to hurt jess with jobbers
and in the primary market. Tw o fine days at the beginning
o f the w eek and an active retail distribution were there­
fore regarded as favorable features, which, however, later
unfavorable weather again has done ruueh to m odify. The
primary market has continued in a condition o f unrelieved
(fulness in all departments, and the jobbin g trade has fur­
nished no such further incentives to spasmodic activity as
the recent drives in ginghams. The general conditions anwithout im provem ent. Buyers are ju st as reserved as ever
and appear to have little faith in the stability o f the present
general range o f prices, low as it is, i hey rarely go beyond
im mediate requirements in their purchases o f either cotton or
woolen goods o f staple character, and the tendency o? prices
is in both, with but occasional exceptions in tneir favor,
although there have been no reductions la open quotations
this week. Reports on collections are by no means satis­
factory, slow payments being frequently complained o f , par­
ticularly in the woolen g rods departments.
D o m e s t ic C o t t o n G o o d s — The exports o f cotton goods
from this port for the w e e k ending March 30 were 2,865
packages, valued at $188,189. their destination being to the
points specified in the tables below:
N *»

Yo r k t o M arch 30

Or»»t, B ritain........................
O ther E o ro p w ti....................
Chian
....................
In d ia ............ .— ....................
A f r i c a .................... ................
W>*t In d ie .........................
M e t l c o ................... ............
Central Araerica___. . . . . ___
Bonth A m erle. ....................
Otner Coimtrlea....... ............

1395.
1898.
|
1, ...
,
Week. \Since Jan. 1. | Week. Since Jan. 1,
8
84
150
1,425
tm
109
100
314 (
431
04

T ota l.................
....... , 2,865
©Miia, rim Vfco©0tiT®r%.*. ' 3*845

sob
2 ,2f O
X0,8 00
2,442
4.590
8,701
3,373
718
2,186
11 ,-03
833
48,322
11,162

T o t a l . . . . . . . ...................... 8,710
59.484
* P rim S ew England m ill points Street.

192
125 i
555 |
i 1,210
65 i

1,105
890
9.093
1,990
8,421
2,575
4.543
703
2,8 8
13,321
1,740

! 3,593
j 5,200 |

4,5,991
0,450

1 9,793

52.441

:\
i
1

1.43 .
271 i
065 :
1,338

!i
1

;

Stock o f P rin t O loth t—

At- P ro v id e n ce , 6 1 sq u a re s.
A t P all R iv e r, 64 s q u a r e s ..
At F a ll R iv e r, o d d s iz e s ___

1896.
Heft, 28.
221,000
159 4,000
485,000

T otal s to c k (p ie c e s ).... 1,400,000

1895.

122.000
77,000
115.000

IS 44.
Jfc/l. 31.
201.000
320.000
69,000

1893.
Apr. 1.
27.000
29.000

314.000

593.000

56.000

Xeh, 30.

None.

W o o l en G o ods ,— There has been no departure by buyer.a
from their urevious cautious policy, whilst sellers appear t7o
be grow ing daily more critical on the score of credits. Bus ness has thus been kept within restricted limits in the aggre­
gate, and orders have rarely been recorded for other than
small parcels o f either staple or fancy lines o f men’s wear
woolens or worsteds. Tftere has been no material change in
prices during the week, the determination of manufacturers
to run on orders or shut dow n having a tendency to keep reg­
ular goods steady. Low quality goods still have the prefer­
ence in such business as is passing. Clays continue inactive
but their ou'put has been curtailed. Satinets are slow and ir ­
regular, as are cotton-w arp cassimeres and cotton-m ixed
goods generally. Cloakings are selling fairly for fall, chiefly
in plain-faced goods. Overcoatings are inactive and irregular.
Fancy lines of dress goods fairly ordered for fall but staples
alow. Flannels and blankets quiet and unchanged.
F o r e ig n D r y G o ods .— Seasonable business has sh ow n a
sligh t im p rovem en t ut v olu m e, b ut outside o f a fe w fa v o re d
specialties in dre-a fabrics the m arket is irregular. Som e im ­
provem en t is noted in the ord ers fo r fall, w ith a fu ller display
o f sam ples o f new lines in dress g o o d s and silks.
I m p o r t a t io n s a n d W a r e h o u s e W i t h d r a w a ls o f D r y G o o d *

The importations and warehouse withdrawals o f dry good®
at this port for the week ending April 3, 1896, and since
January 1, Wall, and for the corresponding periods o f last
year are as follow s:

IHE CHRONICLE.

652
S w £

C jty

[V ol , LXII.

school bonds were awarded to Messrs. R. L. Day & Co. of
Boston. The bids received for the bonds were as follows :
SEWER LOAN.

TERM S OF SU B S C R IP T IO N .

T he I nvestors’ S upplement will be furnished
without extra charge to every annual subscriber of the
Commercial and F in a n c ia l C hronicle .
T he State and City Supplement will also be fur­
nished without extra charge to every subscriber of the
C hronicle .
T he Street R a ilw a y S upplement will likewise
be furnished loithout extra charge to every subscriber
of the Chronicle .
T he Quotation Supplement, issued mouthly, will
also be furnished without extra charge to every sub­
scriber of the Chronicle .
TERMS for the Chronicle with the four Supple­
ments above named are Ten ollars within the United
States and Twelve Dollars i t Europe, which in both
cases includes postage.
Terms of A dvertising—! P er inch space.)
O n e t im e ...._______________ $3 50 I Tnr
Months (13 tim es)..$ 2 5 00
One Month
(4 tim es).. I I 00 Six onths
(26 tim e s).. 43 00
Two Months
(8 tim es).. 18 00 I Twelve Months (52 tim es).. 58 00
(The above term s for one m onth and upward are tor standing oards.

T ile purpose o l tills State and City Departm ent
fa to fu r n is h o u r s u b s c r ib e r s with a weekly addition t o and
c o n t in u a tio n o f t h e S t a t e a n d C i t y S u p p l e m e n t . In other
w o r d s , w i t h t h e new facts we shall g i v e , the amplifications
a n d c o r r e c t io n s we s h a ll publish, and the municipal laws we
shall a n a ly z e in t h e “ State and City Department,” we expect
to b r in g d o w n weekly the information contained in the
S t a t e a n d C i t y S u p p l e m e n t to as near the current date as
possible. Hence every Subscriber will at all times possess a
complete and fresh cyclopaedia of information respecting
Municipal Debts.

B o n d Proposal* and N egotiation*.—We have re­
ceived through the week the following notices of bonds
recently negotiated and bonds offered and to be offered for
sale.
Barre, Y t.—Bond Sale.—The city of Barre, Vt., has sold
$45,000 of 4 per cent bonds to E. H. Rollins & Sons of Boston
at par. Bids were asked for on $75,000 of 10-20, 15-20 and
straight 20-year securities. Three offers were received.
Boston, Mass.—Bond Offering.—Bids will be received by
City Treasurer Alfred T. Turner until April 8, at 12 M., for
$500,000 of
per cent registered certificates of the Rapid
Transit loan. The securities will be dated April 1,1896, inter­
est will be payable semi-annually, April 1 and October 1, and
the principal will mature April 1, 1986.

R. L. Day & C o................
Geo. A . Fernald & C o ...
G eo. M. Halm.................
N. W . Harris & Co .......
W . I . Q u i D t a r d .......................

Estabrook & Co ..............
A. L. Sweetser & C o.......
Edw. il Wki’ inan..........
Faison, Leach <&C o ........
E. C. Stan w ood & C o _
Blodget, Merritt & Co ..
Rudolph K leybolte & Co

Bid.
.1 1 0 6 8 9
110-293
.1 1 0 0 5
.109 55
.1< 9-39
.109-381
.109*331
.109 253
.108 51
.106 67
.108-81
.104-25

SCHOOL HOUSE LOAN.

R. L. Day & C o ............
Estabrook & C o ..........
Geo. A. Fernald <fe Co.
A. L. Sweetser & C o ...
N. VV. Harris & Co .......
W. I. Quintan! ...............
Edw. II. Whitman ___
Blodget, Merritt & C o..
E. <;. Stan wood & C o .,.
Farson. Leach & C o ...
Rudolph Klebolte & Co

Bid.
.1 0 8 1 3 9
.107-279
.107-25
.107-197
.107-19
.10 7L 9
.107 63
.106-^6
.105-27
106 5 L
.104-25065

Both loans are dated April 1, 1896. The bonds are regis­
tered, and interest will be payable by check on April I and
October 1.
Franklin, Ky.—Bonds Authorized.—An election held March
21, 1896, on issuing $20,000 of water-works bonds resulted in
favor of the proposition.
Heruiyii, Pa.—Bonds Authorized.—Water-works bonds to
the amount of $16,000 were voted on March 24.
Bienville, Ohio.—Bond Election.—On April 6 an election
will he held in Glenville to vote on the proposition to bind
the village for $100,000 for various purposes.
Grafton, W. Ya.—Bonds Authorized.—At a recent election
the citizens of Grafton voted to issue paviug bonds for
$10,000.

Healdsbnrg, Calif.—Bonds Proposed.—Water-works bonds
to the amount of $80,000 are^under consideration.
Hi.'bland County. 0 . —Bond Sale.—Seventeen bids were
received for $30,000 of Highland County bonds, and the
securities were awarded to Messrs. Kuhn & Sons of Cincin­
nati for $31,050.
Milwaukee. W is.—Bond Sale.—On .March 31, 1896, this
city sold $75,000 of 5 per cent bridge bonds to E. H. Rollins
& Sons, of Boston, for S83.82J. Twenty-one bids in all were
received for the loan, as follows:
Amount bid
Concordia Fire Insurance Co., M ilw a u k ee .............................$77,450 00
8. A. Kean, Chicago........................................................................ 78,187 50
.Mechanics’ Insurance Co., Milwaukee .................................. 8J.250U0
Townsend ,v Co., Milwaukee
................................................... 81,000 00
N. W. Mutual Lire I ism anee Co., M ilwaukee.......................... 81,073 87
E. ('. Jones Co, New Y o r k ........................................................... 81,075 00
W. 8. Stroud, Portage, W is........................................................... 81,516 OO
W. J. Hayes & Sons, Cleveland................................................... 81,810 00
Longstreet & C o„ Boston............................................................. 81,652 50
National Hank, Portage, W is...................................................... 81,942 00
CUas. Ashley & Co., M ilwaukee................................................. 81,952 OO
W. I. Q uiutard.New Y ork .......................................................... 81,967 50
Kl. yholte & Co., C incinnati......................................................... 8 2 ,0 12 50
Malone & Ihlkardt , M ilwaukee.................................................... 82,200 00
Deilz, Denison & Pryor, C leveland............................................ 82,754 35
Blodget, Merritt & Co.. B oston ................................................... 82,627 50
Farson, Leach & Co., C hicago...................................................... 82,905 OJ
Lamiirecht Bros., C leveland........................................................ 83,007 50
R. L. Day & Co., B oston............................................................... 83,384 25
Estabrook & Co., B oston— ........ ................... .......................... 83,519 25
E. H . Rollins A (Sons, B oston...................................................
83,820 00

Interest on the bonds is payable semi-annually on January
Caroline Counly, Mil.—Bonds Authorized.—The Maryland
Legislature has authorized Caroline County to issue funding 1 and July 1, and the principal will mature part yearly in
from one to twenty years.
bonds for $24,500.
Moultrie, Ga.—Bonds Authorized.—This city has voted to
Collinwood, Ohio.—Bond Election.—On April 6th the
people of Collinwood will vote on the proposition to issue issue bonds for a system of water-works.
water bonds for §100,000.
Mt. Airy, Md —Bonds Authorized.—The voters of Mt. Airy
Cumberland County, N. C.—Bonds Authorized—This have recently authorized an issue of street improvement
bonds for $4,000,
county will issue bonds for improvements.
Mount Airy, N. C —Bond Offering.—Mount Airy, N. O,, is
Council Bluffs, Iowa.—Bond C all— Notice is given by
City Treasurer J. A. Gorham that $5,000 of intersection offering 5 per cent 30-year water bonds to the amount of $25,sewer bonds, issued November 2, 1885, payable in twenty 000. Interest is to be paid semi-annually. The assessed val­
years, with an option of call after ten years, are to be re­ uation of real and personal property is $25,000 and the esti­
deemed at the National Park Bank of New York City on May mated real valuation $1,(00,000.
The official advertisement o f this sale will be found elsewhere
1, 1896; also $15,000 bonds issued December 1, 1885, and num­
bered from 17 to 46 will be paid June 1 ,1896. Interest on the in this Department.
securities will cease on the same date. The bonds called are
Newark, O h io—Bond Sale.—On March 30th $18,000 of
of the denomination of §500 and are numbered from 7 to 16, Newark 5 per cent township bonds were sold to Messrs.
Seasongood & Mayer of Cincinnati for a premium of $1,407.
inclusive, and from 17 to 46 inclusive.
The securities will mature at the rate of $1,000 yearly, be­
E or further particulars seethe Gity Treasurer's official ad­ ginning ADril 1, 1905.
vertisement elsewhere in this Department.
Newburg, Ohio.—Bond Election.—The citizens of Newburg
Elmira, N, Y.—Bonds Proposed.—This city will petition will vote April Gth on the question of issuing bonds to the
the Legislature for authority to issue $500,000 of paving amount of $30,000 for electric light works.
bonds. This city will also petition the Legislature for au­
New York City.—Bond News.—On April 2 only four bids
thority to issue $610,000 of bonds for a water supply.
for a total of $175,500 were received in response to New York
Fall River, Mass.—Bond S ale—On April 1st, $75,000 of 4 City’s offering of 3 per cent gold bonds to tbs amount of
per cent 30-year sewer bonds and $60,000 of 4 per cent 20-year §4,300,814 99. The following is a list of the proposals :

A pril 4, 1896,J'

THE CHRONICLE.
A m o u n t.

A Galui, lire hydrant stock o l 1 9 2 5 ................................*10,u00
Loomis L. WWto A Co . either I s s u e ..................... — . 20.000
P White, c ro to n Wat. r •look of 1915...........................
o.SOO
C. L. TMaback. Osf.teusburg, K. Y .:
-0.®*®
For te o a tiu i, l o s t , . ......................................................
F o r Third ave. brulkf. 1921 ............................- .........
20,000
F or Metropolitan .Museum o f Art, 1 9 2 1 ...................
10,000
F or U .n tiu E lver Driveway, 1 9 8 1 ............................. }<MjOO
F or t e ll. >re t Hy o f X ow York, 191o
......................
la.OOO
F or
Ciea.yiB.fcT Department, 1915—
- —SiWO
F or Damage om m Lsion, 1S>1 L . . ---------F or w a ters oek. IvIS ...................................................
- -?,n
F. r crrvtoo water st ek, 19 l o .......................................
F o r dock Domi*, 1920.......................... .......... - ............ * 2 '«5 2
For Are hydrant stock, i» 2 5 .........................
.......
2*255
1 ' .»0 0
F or M tiuoi-houje t o a d s , 1915.......................................

658

Bid,
I t 0-€0

R o c k v ille , 41(1 .—Bonds Authorized.— This city has been
authorized by the Legislature to issue bonds for water-works.

100-35

Rom e, N. Y.—■Bond Offering.—Proposals w ill be received
until A pril 15, at 2 P. M,, by K. S. Putnam, City Chamber­
lain, for the purchase o f Rom e sewer bonds to the amount of
§150,000. The securities w ill be dated April 15, 1896, inter­
est at the rate o f 4 per cent w ill be payable on January 1 and
July 1, and the principal w ill mature at the rate of §5,000
75
yearly,
from A p ril 15, 1907, to April 15, 1931, when all unpaid
bonds
w ill become due.
75

ioo-oo

109-75
1 0 9 -7 5

109-75
109- 76
loT -25
107 25
105- 75
107-09
106111-26
110106-50

Total o f bid s...................... - ........- .................................. $175,500

The follow ing statement is made by the city officials under
date of March 31, 1896:

A list of the s euritits which were offered for sale is given .Tot. bonded Indebtedness,
N etboudedindebtedoess $35,855
n ot tool, present issue..$205,S55 Assessed valuation 1895.5,61.5,538
below.
W ater bonds, inel. above. 170,000 Population, Census 1390. 14,991
A
d d ’ d C roton W i t e r Stock —
Loanswh'<1due- 3s, g, MAN, SfOO.OOOg.Nov.l.’ l o
Co n s o l , d a t e d S t o c k —
No default has been made in payment o f bonds or interest
Dock Bonds—
3s, g, M.v.V,$l,a75,OOOg.Xov.l.;21
3s, I, M±S, 258,400*. Nov.l,* 15 As. g, MAN,$l,OOO.OOOg.Nov.l,’ 26 The annual incom e o f the water-works ow ned by the city is
F
ire
H
twhajit
S
to
ck
—
3s, it, M A H ,
:W 0 .o Ou-..Vov.l,-iO
3s, a, MAN,
$50,000gjfov.l,’25 §20,000, and the anuual running expenses about §4,000.
addition At. Water Stock—
SCHOOL BONDS—
3s, g, MAN. $175,OOOtr.Nov.l,’ i 5
Further particulars regarding this sale will be fou n d in an
3s,g. M iN ,$ 5 4 2 ,-a t-99g,N ov.1,-15
advertisement elsewhere in this Department.
T h e bonds a re exempt from city and county t a x but not
from State taxation. It is reported that securities bearing a
higher rate o f interest will probably be issued.
Oceanside, C a lif — B o n d O ffe r in g .— P r o p o s a ls w ill be re.
ceived until .Inly !, 1896. by George W . W ilbur, City Clerk,
for the purchase of $30,000 of water-works bonds.

St. Louis I ’onnty, M inn.— Bonds Authorized.—A n election
held March 10, 1896, on issuing §150,000 of county road bonds
resulted in favor of the proposition. The loan will bear in­
terest at the rate o f 4 per cent, payable semi-annually, and
will run for twenty years.

Sharon, W is.—Bond News.— Fourteen thousand dollars of
Oregon, Xu,—Bond* Authorized.— It is reported that the
Sharon water* bonds which failed to sell when offered on
people of Oregon voted March 34, 1896, in favor o f issuing
March 31 w ill now be disposed of at private sale. The securi­
$25,000 o f w aterw orks bonds.
ties bear 3 per cent interest, payable annually, and the prin­
Peteniborongh, h . H.—Bond Offering,— U is reported that cipal will mature at the rate of §1,000 yearly, beginning Feb­
bid* wilt be received for the purcuas.- o f 1*50,000 c l water­ ruary 15, 1898,
works bonds.
Sing S in g, N. Y.—Bonds Proposed.—Bonds to the amount
P latte County, X o —Bonds Proposed,— A vote will be o f §150,000 for paving, etc,, are under consideration.
Suisun City. C a lif.—Bids Rejected.— A ll bids received on
taken shortly on issuing bonds for the purpose o f paying off
March 24, 1896, by O. B, Powers, Tow n Clerk, for the purthe county's’ floating <1- bt.

N E W LOANS.

N E W LOANS.

N E W LOANS.

8150,000
C I T Y OF ROME N. Y.}

$ 37,500

4% SEWER BONDS.

MONTGOMERY, ALA.,

$ 2 0 0 ,0 0 0

C IT Y OF

K. r., M&feti 3»t WttL
Under
c#f Cti*j»i#f is** o f tb*
of IS®®* ttm Ctfcf o f Ed*»© will swell « l jtoblte aueftets on

CITY

OF

BOSTON

R E G I S T E R E D 4s.

80-Year 5% I'at in ; Bonds.

Seeled tod* wilt be received until April 6,1896,12 M.,
fur the purchase o f Thirty Seven Thousand Five
in tb# (’oromiwi OwBael'i Cii&iah&t la. th% Oily
Hundred Dollars City of Montgomery, Alabama, 20Half BvHiUsg, i«> lb « Mglorfi HW4«r* «nfl la toi* oaf year 5 per cent bond*, denomination Five Hundred

IT e lsrtd a y * A pril 15. t8#tL ■»( 4 P* ML*

D A T E D JAN. 1, 1 8 0 0 . DUE JA N . 1 ,1 0 1 0 ,
D e n om in a tion , 8 1 ,0 0 0 . o r an y m u ltip le
th ereof.

Dollars each, one-twentieth of the principal and the

1 1 3 0 .0 0 0 a t i te w m r Boad*.
interest payable annually. The interest and one
T l» Bbud* will be mgistormt to t-h# aStofe 6 f the twentieth the principal la embraced In the Coupons
City Chamberlain, wilt tm for If
and bear tn- payable annually afcthe American Exchange National
tmm% at the rate of’ four
eest* pa?able
Bmkt.New- York. Said Coupons at and after matu­
aimnalty, Ism tsiy la n d July 1.
rity recrtivaMi* for Idmiwe* and Taxes due the dty.
Wit* o f lit* bond* will be <J«« April 15,1@07* mad A TOrtined check for Five Hundred Dollars must
ttwmeach fm e thereof***r tmm Jt«l, wtomt all mm*tttg accompany each bid. The city reserves the right to
bomte wilt hecertat dm .
^reject any and all bids.
Stow pwN&uw&t win fm required lo pay ftra par mm%
B H . SOMMERVILLE,
•fc tiro* of «*!*, and balance on delivery of bond* in

Treasurer.

tbl# city on that day* or not later than April it.

MUNICIPAL

BONDS.

Portlier i&itmmrMmt on appHcatioo.
K , S. P0TSTAM* Chamtw*rlaln.

BONG C A L L .

Council

Bluffs,

Iowa.

E. C. Stanwoad & Co.,
T A S ifE E S ,

C i t y T r * ii* « ir e r * « I f o t l e e ,
T « the prewent i w u m an d h o ld e rs o f the
fo llo w in g hondei

121 Devonshire S tre e t,

H otloe I# hereby « lv e n that th e fo lio w in ^ In te rse c-

ttem Sewer fkmds, denomination fsdo 00, tnatniinx

M arch 27.1 BBS,

IB O S T O N .

Rudolph Kleyboite & Co.,

U M T.N S E N T U P O N A P P l . l U A T t O N

C IN C IN N A T I, 6 .

BAN KERS,

M O U N T A IR Y , N. C.,
M il l s

&

B lanchard,

62 BRO AD W AY, NEW
STOCKS,
I ltffh -Q m d *

CtTCTlAf

5 PER

CENT BO N D S.

B A N K E R S.

C. H. Van Jiurcn & Co., MUNICIPAL BONDS
B A S K K R ** A N D B R O K E R S ,
And

BONDS.
G r a n d R a p i d s , M i c b ., E l e c t r i c - E i g h t ....
K a l a m a z o o , flt*e h ,, E l e c t r i c - L i g h t .........
C h a r l e v o i x , 1>I icli , R e l u i i d i a g ...................
R ic h m o n d , X**cl., F u n d in g ........ ......................
D e a r b o r n C o u n t y , l a d ., F u n d i n g ............
T e r r e H a u t e , In
F u n d i n g ......................
R ic h m o n d , l a d . , S t r e e t I m p r o v e m e n t ..
M itc h e ll, I m l., E l e c t r i c - L i g h t ........................ T o le d o , O h io , .S treet I m p r o v e m e n t .......... 4At
Iflu fl'ton , O h io , W i t t e r ......................................
B on d U H L O h io , W a t e r .......... ......................
_
X e n i a , O h io , F u n d in g ............
4M
P iq u a , O h io , W a t e r . . ...........................................4 %
.M id d le to w n , O h io , W a t e r . ....... ...................
C o r s i c a n a , T e x a s , S e w e r . . . . . . . . .................
l s t o d a , O r e g o n , ( G o l d ) ,W a t e r ................
L a u r e l , A id ., S t r e e t I m p r o v e m e n t ......'
FO R BALE A T

SO jm t % o p tim a l m f t o n e a ft e r 10 years, issued
n o r , m , IS§e> n am h erla * fro m 7 t o 1 « Inelnsfre, will
b e fMtfd M ay 1st,
also b on d s issu ed Dec* 1st*
100% Drcoabertojt from - IT t o M In elasire, w ill b e paid
J mm 1st,
fey
m m e t o M atioani Park
B ank, Jftrw f o r k C ity, an d th a t th e in te re st will
cease ttpon Pm m m n at. th a t t in e .

J. A. GORHAM,
City Treasurer.

E. H. R O L L IN S & SO N S,
5 3 S T A T E S T ., B O STO N , M A S S .

Present net bended tHkftUritattsb not todudtiig
$170,000 wat r bond;*. #aMsM» PopaUUon. Imo,
lt*90l; mrmmtiL rmtuMbm, T5,«i3A3d. Ineone from
water wort*,
mmtim mpmmm, ti.OOO.

These Bonds are particularly desirable for Trustees
and private Investors, as the principal can be regis
tered in name o f holder. The interest is payable
January and July 1st o f each year by check mailed
to registered holder by City Treasurer.
Legal Investment fo r New York and all New Eng­
land Savings banks.
Price and particulars on application.

-

YORK.

BOUGHT AND SOLD.

BOKDS,

7»i,/•</>,i .u /

iTtctiHbpyJtot^or

D e v o n s h ir e

S r e n r ill,,.
Bund,,

16

S ta te

S treet,

B u ild in g ,

B osto n ,

B enw ell

&

E v e r it t ,

*nlH-ririerhorii B aildinir,

fi Vv A 1,1, S T ,

MCNICIFAC ISSUES IN THE STATES OF

M a ss .

N E W Y O R K & N E W JE R SE Y
A SPECIALTY

r

654

THE CHRONICLE

chase of $42,000 of 5 per cent water-works bonds were re­
jected. The stcuiiiiea are dated March 81, 1896, interest will
be payable annually and the principal will mature at the rate
of $1,650 yeaily from Match 31, 1897, to March 31,1936.
Principal and interest will be payable at the Bink of Califor­
nia, San Francisco.
Taneytown, ,Hd.—Bond Election. —The people of Taneytown will vote on the proposition to issue $13,000 for water­
works.
Wilmington, Del.—Bond Sale.—On March 28, 1896, this
city sold a $125,000 sinking fund loan, $10,000 to Joseph
Hyde, of Wilmington, at 105; $25,000 to H N. Melchoir, of
Oit ey, Pa., at 1(4; $5,000 to E. C. Honeywell, of Wilming­
ton, at 104, and the balance to R. R. Robinson & Co., of W il­
mington, at 103. A list of the bids received is given P e lo w :
Joseph Hyde, W ilm ington, Del .. ..........................
H . N. M elchoir.Oluey. P e n n ..................
E . C. H on ejW fll, W ilmington, Del
.....................
R. R. Robinco i <v Co., W ilmington, D el.................
E quitable Gnu run tee & Tr. Co.,W ilm iogton, Del.
Scott
Co., W ilm ington. Del ................................
E. Beekman U nderbill, New York ....................
Security Tiust & Safe Dep. Co., WilmingtOD, Del.
S. A. Kean, ew Y ork ....................................

J mount.
$10,00*»
25,000
5,00 >
12\0<<0
125. <00
125.0* 0
125.000
125,000
125,000

Bid.
105
104
104
103
I02k>
101*10
1 0 1 -OK
101*02
100

( v o l . L xn .

by means of a special report to the Chronicle from O. Ingersoll, City Clerk.
Arkansas City is situated in Cowley County. In addition
to the bonds below there are $50,000 D, M. & A. RR 6 per
cent bonds, dated 1888, which are supposed to be illegal, the
Court having issued a permanent injunction against their be­
ing paid. There is also a mortgage of $150,000 agiin-st the
city water works, which is not included in the total debt.
The works are now in the hands of a receiver. The opinion
is that they will be sold under foreclosure of mortgage. The
city has been enjoined from paving the interest thereon.
L O A N S—

Cit y B uilding —

When Due.

R e f u n d in g B onds —

6s, M&N, $24,00 0___Nov. 1 ,1 9 2 1
Se w e r B onds 73, ........., $ 1 6 ,0 0 0 ..part due y ’rly.
7s, A pril,
2 ,0 0 0 ... .A pril 4, 1901

7s, M&S, $11 ,000....... Sept. 1, 1000
Subject to call after Sept. 1 ,1 8 9 6
I n t e r n a l I m pr o v e m e n t —

7s............ $14,748............ p a r t y ’rly.

W a t e r B onds -

R a il r o a d A id -

68, M&N, $11,000...... Nov. 6, 1915
Subject to call at any time.
6s, F&A. $7,500.......Au>. 1, 1916
Subject to call after Aug. 1, 1896

68, F&A, $-10,000 ...S ep t. 18, 1901

PAR V A LU E O F B O N D S .—T b eb on d s are all fo r $1,000, except th e
The proceeds of the loan will be used by the street and
sewer department. The securities bear interest at the rate of RR. Aid 6s due in 1916 aud water 6s due 1901, Avliicli are fo r $500.
4 per cent, payable semi-annually on April 1 and October 1,
IN T E R E S T is payable at the City Treasurer’s office or at the K ansas
$60,700 of ibe amount io mature October 1, 1924, $62,650 Fiscal Agency, New York.
April 1, 1925, and $1,650 October 1, 1925.
T O T A L D E B T .—Bonded debt on A pril 1 ,1 8 9 6 , was $95,500; sink­

S T A T E AN D C IT Y D E B T C H A N G E S.
W e subjoin reports as to municipal debts received since
th e last publication of our S t a t e a n d C it y S u p p l e m e n t .

Some of th.se reports are wholly new and others cover items
o f information additioual to chose given in the S u p p l e m e n t

ing fund, $2,000. The city has no floating debt. This total does n o t
include school bonds, which am ounted on April 1 ,1 8 9 6 , to $101,000,
the internal im provem ent bonds, amounting to $44,748, the m ortgage
on water works, or $16,000 of sew er bonds payable by special ta x on
property adjoining.
ASSESSED V A L U A T IO N in 1895 o f real estato was $707,980 t
personal property, $2 97,4 14; total, $ 1 ,0 0 5 ,3 9 4 ; total ta x per $ 1,000
is $62-75. In 1893 the total valuation was $1,131,086. Real estato is
assessed at about 15 and personal p roperty at about 13 o f actual value.

and of interest to investors.
Arkansas City, K in .—George W . Cunningham, Mayor.
P O P U L A T IO N in 1890 was 8,3 47; in 1880 was 1.012; in 1893
The following statement has been corrected to April 1, 1896 (estimated), 9,500.

N E W LO A N S .
C h i c a g o , III,, W e s t P a r k ...............................5 n
Burlington, W is ., School...............................5s
Slier <*>an, T exas, Refunding........................6*
So. Omaha, Neb., Refunding........................7 s
Muscatine, Iow a. Improvement.................6*
A urora, Ills ., Improvement....................... 6 s
Gibson City, Ills ., W a te r W o rk s.................6s
Hubbard, Ohio, Electric Eight....................5*
H arva rd , Neb., W a te r W o rk s .....................6s

N E W LOANS

N E W LO AN S .

$ 365,000

M U N IC IP A L

BONDS 5% GOLD FUNDING BONDS
OF THE

FOR IN V E ST M E N T .

Territory o f Arizona,

F O R SALE BV

(REGISTERED t R COUPON.)

MASON, LEWIS & CO.,
31 State S t.,
BOSTON.

B A N K E R S,
171 La Salle St..
CHICAGO.

Dated Jnn. 1 5, 1 S 9 6 .
P A R T IC U L A R S

UPON A PPLICATION.

Hue Jan. 1 5, 1 9 4 6 .

(Option of payment after 20 years.)

DENOMINATION

New Loan.

NUMBERS OF THE NSW YC RK AND B08TO f
8TOCK EXCHANGES.

C I T Y OF BROOKLYN

DEALERS IN COMMERCIAL PAPER.

NOT SUBJECT TO TA X A T IO N .

Guaranty Trust Company o f New York.
For prices and partioulars address

Blake Brothers & Co

Price and Particulars upon application.

SIS S T A T E S T R E E T , BOSTON.

Far son, Leach & Co.,

S

3 W ALL

-N ASSAU

S T .. NEW

BAJUKERf.

A. C. F R O S T & CO.,
108

LA

“ ABLE

str e e t

,

C H IA G O .

YORK.

STR EET.

W . N . Coler & Co.,

$1,000.

Principal and Coupons payable at the

31%

G O LD BONDS.

-

Interest payable Jan. and July 1 5 .

C. H. White & Co.,
GOVERNMENT and
M U N IC IP A L BONDS

BANKERS,
'll R R 0 4 D W A Y , N E W Y O R K .

B ou gh t and Sold.
B U Y AND SELL

MUNICIPAL BONDS. N. W. HARRIS & CO.. Municipal and First Mortgage
BANKERS,

34 NASSAU STREET.

CHICAGO.

’ BOSTON.

PHILADELPHIA.

15 V. a l l S T R E E T ,

Blodget, Merritt & Co.,
BANKERS,

W. J.

NEW Y O R K .

Hayes be Sons,

STATE CITY & RAILROAD RONDS.

LISTS ON APPLICATION.

BAN KERS,

DEALERS IN MUNICIPAL BONDS.

f 16 C o n g re ss S tre e t, B oston.

Railroad Bonds.

Street Railway Bonds, and other high-grade investments.
BOSTON, MASS.,
C le v e la n d , O h io,
7 Exchange Place.
3 1 1 -3 1 3 S u p c r lo r St.
Cable Address, “ K E N N E T H .”

TH E FINA N C IA L R E V IE W
FOR 1896

N O W READY

THE CHRONICLE,

A pril 4, 1S96.J

Ford Comity, Kan.—This statement has been corrected to
February, 1896, by means of a special report to Ihe Chbon
icle tom J. H. Leidigh, Clerk.
County seat is Dodge City, The bridge bonds included in
the following statement were issued originally by varic us
townehif a. but have been assumed by the counly.
LOANSWhen Due, Bund'd debt Feb. 6, '96. $169,900
Floating debt....................
5 1,114
A. K. AC. RB.
6 -, JAJ, #100,0011___ Ian. 1, 190$ 1■1! ‘ drbl .............. - ... 224,01 i
----------4.496
Rathob Bonds—
7s, J&J. $3,000......Apr. 23.1806 Net debt Fi b. 6 ,1 8 9 6 .... 216,519
1906 Tax valuation, real.........1,136,821
7s, i&J, 5,000___ Jan. 1. 1906
6s, J&J. 8,900.... Jan. 1,1908 Tax valuation, personal. 714,126
Total valuation 1895___1,850.947
Co c k House ash Jun­
es, J.v.i, $3,000 ......................... Assessment about % actual value.
Total tax (par #1,000)......... $30-75
tvsuvsa Bosos—
6s, J&-J, $20,000..... May 15. 1901 Population in lstto w as........ 5.308
! Population in 1«80 w as.........3,122
RKKNIitXO—
6s, JA.I. $4,000......... July 1,1011 , Population m 1-I.U ,e s t .).... 5,096
6s, 1*.!. 20.000........ July 1,1918 ,
tot payable at Fiscal Agcnejr, K. T. (

able in Leavenw orth; on all other bonds at the Kansas Fiscal A g en cy ,
S e w Y ork City.
T O T A L D E B T S IN K IN G F U N D S , E T C .-T he subjoined statem en t
shows Leavenworth's total m unicipal debt on the first o f April o f eaoh
o f the last fou r years.
1896.
1895.
1894.
1893.
General bonded d ebt.......... $546,600 $569,204 $578,204
$561,204
Im provem ent bonds..........
83,470 104,750
128,580
153,549
Total city debt A p r i l l . . . $630,070

LOANS.

B eal
4 8 9 6 ... .......... $4,713,060
........
4,704,580
1 8 9 4 ...
1 8 9 3 ... .......... 4,629,740
1S 92... .......... 4,577,010
1 8 9 1 ... .......... 4,591,680
18 90... ........... 4,591,110

F.
C O K M

MUNICIPAL

$706,784

$714,753

Assessed Valuation.
P erson a l
$1,027,220
991,620
960,100
911,440
846,250
879,600

Total
$5,740,280
5,696.200
5,589,840
5,488,450
5,437,930
5,470,710

T ax B ale
p e r $ 1 ,0 0 0 .

$43-30
45-50
45-55
424346'35

‘ [Deluding railroads.
Tile tax rate for 1896 as above includes State tax $4-40
$13-10; c ity ta x $16*80; school tax $9*00; total $43*30.
P O P U L A T IO N .—In 1890 population was 19,768; in 1880 it w as
16,546; til 1870 it was 17 ,873 ; in 1896 estim ated 20,701.

Sacramento Connty, Cal.—Below is a statement of the
financial condition of Sacramento County, which has been
corrected to date by means of a special report to the C h r o n ­
i c l e1,1899
from Edward Lyon, Treasurer.
1 ,1904
County
seat is Sacramento.
LO ANS—
When Due. Bonded debt Apr. 1, '96. $542,000
Connty has no floating debt.
Ueiu -m u s i ; B onds —
,1909
Jan., $ 105,000.Feb. 1, ’ 98-'0S T ax valuation 18 95,. .$33,831,194
4i2»,1J&J,
,1911 194,000.. Jan. 1, 1912 State and coun ty tax
(per $1,000)....................... $16-50
4<->s, J&J,
6 8 .0 0 0 ...J u ly 1 .1913
U ss, j & j , 95,000.. .July 1, 1915 Population In 1S90 w as.......40,339
4s, J&J,
8 0 ,0 0 0 ... .Tan. 1,1 908
6 s,1

IN T E R E S T is payable a t Sacramento.
O P T IO N A L .—A ll o f the county’s bonds, excepting the 6 per cen t
issue, are subject to call on forty days' notice.

ACCOUNTANTS.

WHANN& SCKLESINGER

$673,954

ASS E S SE D V A L U A T IO N .—The city ’s assessed valuation (abou
one-third cash value) and tax rato have been as fo llo w s :

Leavenworth, Kan.—D. A. Hook, Mayor. A special re­
port to the Chronicle from A. A. Fenn, City Treasurer, gives
the following data regarding the city’s finances on April 1,
1896.
Leavenworth is the county seat of Leavenworth County,
LOANS—
When Due. I Rivekside Coal Co. Bonds—
Brume Bonds—
6s, JA-J, $10,000 —Apr. 1,1917
5% J&J, $30,000........Ian. 1,1924
Settles J. and O, BosdsOw Wei.1. IloSHH—
!
5*. .J&J, $1,000......July
«*. JJkJ. $5,000..... ....July 1, 1917 15s, J&J,
3,400....... July
OtXBR.U. Ittl'HOVlJtBVT—
Sl-ECIAl, 1UfKi >vtAUJXT BONDS—
6s. yenrlr. $-13,250........>0 yearly i 6». yearly, $-10,230.........l,0 yearly
Le*v. S'ott. & So. RK.: 30-Vevr Ftmhso Bonds—
5s, J&J, 850,000___ July 1, 1917 |5*. J&J.
$58.800....July
Lb tv. ± OLATHE RK. j
4s. J&J, 320,100... July
6s. ja j , $i5.ono.......Jim. 1.1917) Board op Euccation Boxds—
Park Bosos-iref.*
I 6». J&J, $95,948 ...Julv 1,'09’ll
J&J, $50,000 ......Apr. 1. 1915 |
OPTIONAL—AH bond* Issued l>y the city are subject to rail
INTEREST on the 30-year funding bonds, due in 1900; on the
hoods of series J and 0, and on the Board of Education bonds, is pay­

NEW

655

J. P ic a rd ,
L T 1 K 6

E N G I N E E R ,

C O LU M BU S, OH IO .

M IS C E LL A N E O U S .

________________ _______________

....

-.. .fc.

WELL’S
FILING CABINETS.
F O R F I X I N G Letters. Invoices, Catalogues, Price

Lists, Documents (flat or folded). Legal blanks,
E r a m in a tio n s and Reports Made for
any kind o f sheet, any size of sheet.
B a n k e rs and In v estors of Railroad, Coal
S T R O N G P O I N T S .—Rapid Filing. Quick Ref­
M in in g , O il and E le c tr ic Properties-

BONDS.

erence. Labor Saving. No Waste Room. Adjust­

BKVBRBNCKR SENT.

ability. (Keep the Adjustable feature in mind.)

‘J W A L L S T R E E T .

«SKW 1 U R K

MORTGAGE LOANS
TEXAS.

Wesley Farrington,
L i.tr A u d ito r ol N. V . L . E. &.- W . R R . t o.
E X P E R T

203

R uim s aw-sow

l « i « r « « * 7 P e r Cent Net*

A C C O U N TA N T,

MBOADWAV, NEW
m ar. asd

VORK.

Ex p h e ss B u il d in g .

Combination. (One Cabinet can be arranged to do
all work mentioned above.)
W i f , ! . F I L L A N Y * H INTS from a newspaper
clipping to a 1,000 page catalogue.
N O W A S T E R O O M ,- T h e shelves are adjusta­
ble. The partitions are adjustable. The flies will
expand from one inch to five as the case may re­

quire,

W K C A N ’ T run a Cut of Cabinet here, but we have
a nice catalogue full o f them.
Y O U R S for the asking.

HO COMMISSIONS eH«nr«4 B effw rw ©# tender
until \ m m h av* prsrmn good ,

REPORTS

F R A R C iS S M IT H A CO

BAH A N T O N IO .

TEXAS.

1*.S0.

FOR

JO II V M A R §T O S , J r „

1896.

C IV IL E N GIN EKR,

The United States Life
Insurance Co.

M AN U FA CT U R ER A N D D E A LE R IN

AND ALL KINDS OF

Jos. O. Osgood,
M.

Am. 8M.C. K.

Reports

C o n .liltin g E ngineer

a Investment Pmipertles fo r Bankers

ten days of %mm In
o f «0 premium#. It©
mmtm during the pmt
ymt* «h«od**stl?
tlmtwnmmlm It* anoint# mowtttj.

W M . FRANKLIN HALL,

A0tiw>*>and8ut*+M*fUlAgents,tH$hfnp to rrp.

EOOK8

New form# deal trued for books of account.

owmSmmt

IIH Kjtchange Bnllding, 68 State Street, Boston.

A W H K K L W K ieH T ..............Assistant Secretary
war. T. 8 TAHf>"-H., ...........................Actuary

ARTHUR €,

...... ........... . ,

........Caahter

4MHN P. MV MB...... ....................... Medical Director
PI HA N€ B COMM1TT >K
n m . n. W ILLIA M ?
P ? m , a w m , Hat. Bank

JOJIN J. TIT tC*R .

,,,,

,.

....... .

Bntlder

COTTON C A N V A S FELTING DUCK,
CAR COVERING BAGGING,
R AVEN S DUCK, SA IL T W IN E , &C.
POPE “ AW N IN G ” STRIPES.
A gent

UNITED STATES BUNTING COA full supply, all Widths and Colors, always >
cook.

1 0 9 JDaane S treet, N e w Yorl?

SECURE BANK VAULTS

AGGOUNTANT AUDITED

resent this C o m p o o p , m op r o m m u n fm t*
w ith the ,Pr*mt*foni< nt the H om o Offirr,
2 ii t B road wa p, N ew Y ork.

G E O R G E H . f t V R F it I t II
.. .P re sid e n t
C. V. WHALvUm ... . ......, ........... .........Secretary

SUCCESSOR TO

B rin c k e rh o fF , T u r n e r & C o.,

C OT T ON SAIL DUCK

Is the &dnptkm >*f ww4 plans of insurance, and the
Kramlnati’ ins In regard to physical condition and
fnamM of a fiber*** policy towards boils Its Insured character, earning*, management, needs, value.etc.
«.«>! its Amnt*. These essentials it possesses to an
«toito*Rt d«spns®, but jtjdielonsiy tempered by that
R a ilr o a d L o ca tion and C ooa tra i t lo o .
mnwrvmti*m wMeti t* 111©Ihw£
mSpmmtH of
the pol«,ey-|ieM©r. Its oonlemts are Inmnimisblm 120 B R O A D W A Y
NEW YORK
after two yom%. The are hofi-»orfeitltijsr, prorSnin#f
gensmli? for either p*id-ap policy or extended ln-

gives

T, Spencer Turner,
J

P H I X /I D E L P U I A .

and Investor..

It

SYRACUSE, N. Y .

ROOM 202, BULLITT BUILDING,

IH T U B C I T Y O F N E W Y O R K .

This <it4 #©*! reliable Comptutf now has the experof f*»rt.y-*TX years ot prmiiml Life Insamncfl.

oirance. at the* option o f the policy-holder.

A . J . W E L L S Itt’ FJG. C O .,

INVESTORS

OH RAILROAD PROJECTS AND PROPERTIES
Railroad# Located on Economic Principles.
PLms. sredftcBtlons and Eatlmate# Furnished.
COHSTRtJCnON SUPERINTENDED.

SrMtzmmt of Insolvent Estates.

Fred. M. Smith,
70 SOUTH S T R E E T ,

AUBUEM , N E W Y O R K ,
Make# specialty o f Bank Stocks, Municipal and
Wider Bonds and fnrnishes Solicited Information

QENUINE
WELDED CHROME STEIL 4ND IRON
Roraa *

'

AnB, 6S-

Cannot bo Sawed, Cut or Drilled, and positively
Burglar-Proof
U S

r lfltO U K

N I K 141 .

W O R K S ,

Kent Ave., Keup & Hooper Sts..
Sole Man-f ’ere in the U. S. B R O O K L Y N . N . V .

70
50

THE CHRONICLE.

656

[V o l . L X II.

^ tn tst C o m p a n ie s .

Union Trust Company United States Trust Co.
N os. 4/> & 4 7

OF S E W Y O R K .

C A P IT A L AND SURPLUS,

80 Broadway, New York.
$ 1 ,0 0 0 ,0 0 0

C l V IT A L ,
SURPLUS,

$ 4 ,0 0 0 ,0 0 0
A U TH OR IZED TO ACT AS

Executor, Administrator, Guardi-in,
Receiver or Trustee,
AND

A

LEGAL

IS

D E P O S IT O R Y

FOR

W ALL STREET.

M ONEY.

ACTS AS TR U ST E E OF M ORTGAGES OF
CORPORATIONS and accepts the transfer agency
and registry o f stocks.
A L L O W S INTER EST ON DEPOSITS, which may
be made at any time, and withdrawn on five days’
notice, with interest for the whole time they remain
with the company.
For the convenience of depositors this company also
opens CURREN T ACCOUNTS, subject, in accordance
with its rules, to check at sight, and allows interest
upon the resulting daily balances. Such checks pass
through the Clearing House.
Attends specially to the
M A N A G E M E N T OF R E A L E S T A T E
and to the collection and remittance o f rents.
It makes ample provision in its
B U R G L A R A N D F IR E PR O O F VAU LTS
t or the safe keeping of securities placed in its cusfc ody, on which it collects and remits income.
E D W A R D KING, President.
____ CORNELIUS D. WOOD.
)
JAM ES If. O GILVIE.
> Vice Presidents.
AUGUSTUS W . K E L L E Y .'
J. V . B. T H A Y E R . Secretary.
E. R. M ER R ITT, Assistant. Secretary.
C. C. R AW LIN G S, Trust Officer.

ELEVEN MILLION DOLLARS.

C.MINER. SO U TH AND GER M AN S T S.,

BALTIMORE.
C A P IT A L , * 1 ,0 0 0 ,0 0 0 .
LKGAX, D EPOSITORY FOR
TRU ST FUNDS.

COURT

AND

Acts as Financial Agent for States, Cities Towns,
Railroads and other Corporations. Transacts a genera! trust business. Lends money on approved securlfry. Allows interest on special deposits. Acts
Tw3iru^Hr? u,n( er t Mortgages, Assignments and
Deeds of Trust., as Agent for the Transfer or Regis­
tration of Stocks and Bonds, and for the payment of
coupons, interest and dividends.
——
J .W IL L C O X B RO W N , President.
JACKSON, Vice-President.
J. B ER NARD SCOTT, Secy. & Treas.
D IR EC TO RS'.
W m A . Marburg, Frank Brown. Alexander Brown
y
Bowdoin, Leopold Strouse, T. K. Worthington,
Bptl B. Gordon Henry Walters. W . B. Brooks, Jr.
Ja<* so” '
A . Parr, Clayton C.Hall, J. ‘W illcox Brown B. N. Baker, Fred’k W . Wood. Fred. M.
Colston, Andrew D. Jones. W . 11. Baldwin, Jr.,
Joshua Levering, James Bond Douglas H . Gor­
don, J. D Baker, and John B. Garrett.

ST. LOUIS TRUST CO.,
N.

W. C o r . Fourth

and

L ocu st S t s . , S 3

S T . L O U IS , M O .
C a p it al

and

S urplus

$ 3 ,0 0 0 ,0 0 0 00.

D IF E C T O R S :
John T. Davis,
Alvah Mansur,
Daniel Catlin,
L. M. Rumsey,
Samuel W . Fordyce,
Jno. A . Scudder,
Adolphus Busch,
Edward C. Simmons
Henry C. Haarstick,
Edwin O. Stannard,
W m . L. Huse,
J. C. Van Blarcom,
Chas. D. McLure,
Edwards Whitaker,
THOS. H . W E S T , President,
JOHN I). FIL LE Y, Secretary,
A . C. S T E W A R T , Counsel.

This Company is a legal depository for moneys
paid into Court, and is authorized to act as guardian,
trustee or executor.

IN T E R E S T A L L O W E D

A L L O W S IN T E R E ST ON D A IL Y

ON DEPOSITS

which may be made at any time and withdrawn
after five days’ notice, and will be entitled to inter­
est for the whole time they may remain with the
Company.
Executors, Administrators, or Trustees o f Estates,
Religious and Benevolent Institutions, and individ­
uals, will find this Company a convenient depository
for money.
JOHN A . S T E W A R T , President,,
D, W IL L IS JAM ES, Vice-President,
JAM ES S. CLAR K , 2d Vice-President.
H E N R Y L. TIIO RN ELL, Secretary,
LOUIS G. H AM PTON, Assist. Sec’y.
TRUSTEES.
Samuel Sloan,
W . B’y'd Cutting, Frank Lyman,
D. Willis James, Chas. S. Smith,
Geo. F. Vietor,
John A . Stewart, W . Rockefeller, W . W ald. Astor,
J. H . Rhoades, Alex. E. Orr,
James Stillman,
Anson P. Stokes, W . H. Macy, Jr., John Claflin.
John C. Brown.
W m . D. Sloane, John J. Phelps,
Edward Cooper, G. H . Schwab.
Daniel Lord.
Joen S. Kennedy.

TO

B A L A N C E S 8U B JE C

CHECK.

TRUSTEE U N D E R M ORTGAGES.

TR A N 8PE R AGENT

R E G IS T R A R ,

BOARD OF DIRECTORS.
T. Jefferson Coolidge, Jr., P resident.
Oliver Ames, 2d,
C. W . Amory.
Martin Brimmer,
T . Jefferson Coolidge,
Chas. E. Cotting,
George F. Fabyan
George P. Gardner,
Francis L. Higginson,
Henry S. Howe,
W alter Hunnewell,
B. P. Cheney,
George v. L. Meyer,
Laurence Minot,
Richard Olney,
Henry R. Reed,
Nathaniel Thayer,
Stephen M. W eld,
Henry C. Weston.
T. J e p pk r so n Co o l id g e , J r ,, President.
G eo . P. G a r d n e r , Go r d o n A b b o t t , V ic e -P r es i
C. S. T u c k e r m a n , V ice-P res’ t and Treas.
E. A . P h i p p e n , Secretary and A ss’ t Treas.
J o s e p h G. St e a r n s . A ss’t Secretary.

T he S tate T rust C o. A M E R IC A N LOAN
36

W ALL

S T R E E t.

C a p ita l a n d S u r p lu s ,

$ 1 * 8 0 0 ,0 0 0

Acts as Trustee, Registrar, Transfer and
Fiscal Agent o f Corporations, and as Exec­
utor, Adm inistrator, Trustee, Guardian
and Committee of Estates.
Takes full
charge o f R eal mid Personal Estates. In­
terest allow ed on Deposits.
$

i M

E
ANJ ? LM ’ \v ic «-Presidents.
JOHN Q. ADAM S, Secretary.
M AU R IC E S. DECKER, Treasurer.
TRUSTEES.
Willis S. Paine,
J. D. Probst,
Henry H . Cook,
Henry Steers,
Charles It. Flint,
George W . Quintard,
W . L. Trenholm,
Forrest H . Parker,
William B. Kendall, Charles Scribner,
W alter 8. Johnston, Charles L. Tiffany,
Joseph N. Hallock.
George W . W hite,
Percival Knauth,
John Q. Adams,
Edwin A. McAlpin,
Francis S. Bangs,
Andrew Mills,
Francis Lynde Stetson,
William A. Nash,
Thomas A. McIntyre.
Geo. Foster Peabody, Edward E. Poor.

—A N D -

T R U ST

CO M PAN Y,

B O S T O N , M ASS.
C A P IT A L ,
S IIB P L C S ,

.

.

.

-

$ 1 ,0 0 0 ,0 0 0
5 0 0 ,0 0 0

A legal depository of moneys paid into Court and
for Administrators, Executors, Guardians and
Trustees
IN TER EST A L L O W E D ON DEPOSIT8.
Trustees under Mortgages, Transfer Agents nno
Registrars o f Stock.
BOARD OF DIRECTORS.
Chas. Francis Adams, 2d. Samuel Little,
Oakes A . Am es,
S. E. Peabody,
Edwin F. Atkins,
Francis Peabody
Isaac T. Burr,
Albert A . Pope.
Samuel Carr,
N. W . Rice,
F. Gordon Dexter.
R. E. Robbins.
David P. Kimball
W . B. Thomas,
Henry D. Hyde,
S. END1COTT P E AB O D Y , President.
N. W . JORDAN, Actuary.
E. A . COFFIN, Treasurer

CON TINENTAL
T R U ST COM PANY, New York Security &
18 WALL STREET, N. Y.
Trust Company,
C A P I T A !...................................* 5 0 0 .0 0 0
SUR PtfUS ............................... 3 0 0 .0 0 0
OTTO T. B AN N A RD.........................................President
W IL L IA M A L E X A N D E R S M I T H ...1st Vice Pres
GORDON M A C D O N A L D ...2d Vice-Pres’t and Sec’ y
H E N R Y E. D A B O L L ................... Assistant Secretary

Designated by the Supreme Court as a
Depositary for Court Moneys.
Interest allowed on Deposits.
Executes all Trusts.
TRUSTEES.
William Jav,
Otto T. Bannard,
Alfred M. Hoyt.,
Robert W . DeForest,
James C. Parrish,
Giraud Foster,
Robert S. Holt,
Gordon Macdonald,
Henry M. Taber,
Gordon Norrie,
Oliver Harrimau, J r.,
A . Lanfear Norrie,
W m . Alexander Smith,
William F. Cochrau,
Robert Olyphant,
Walter Jennings,
John C. Havemeyer,
William A . Hazard,
W . Seward W ebb,
Frank H . Platt.
Trenor L. Park,

GUARDIAN
SECURITY

Oocm a General Trust Company Busiuess,

Trust & Deposit Company,

Missouri Kansas & Texas
Trust Co.,

BALTIMORE.

General Banking and Trust Business. Becomes
Trustee under Mortgages or Deeds o f Trust, Finan­
cial or Transfer Agent for States, Cities or Corpora­
tions, etc., etc. Pays interest on Deposits.
ED W A R D STAB LE R, Ju., President.
K A N S A S C I T Y , MO.
W M . M. B YR N . Secretary and Treasurer.
D A N IE L M iLLE R , JON. K. TA Y L O R , Yice-P es’ts
.36 W a ll Ht„ N. Y.» 4 0 0 Chestnut S i., Phil.
Executive Comm tee: Wm. H . Bosley iJohn S.
Singel 2 3 S , Amsterdam, Hollo i d.
Gittings & Co.), Ch irman, George B. Baker, Henry
1.0 Throgmorton A ve ., London* England, C. Matthews, Johu L. Blake, Francis A . W hite, Matt
C. Fenton, Lewis A Gusdorfl.

C apital...............................................$ 1*250*0<>0
Surplus and Undivided Profits..
9 0 0 ,0 0 0

B O S T O N , M ASS.
C A P IT A L ,
$ 1 ,0 0 0 ,0 0 0
SURPLU S,
7 5 0 ,0 0 0
Transacts a General Banking Business,

FRANCIS S. BANGS, President.

Maryland Trust Co ,

OLD COLONY
T RU ST CO M PAN Y.

Metropolitan Trust Co.,

A R T H U R E. 8T IL W E L L , President.
Vice-Presidents; J. McD. Trimble, E. L. Martin, W .
S. Taylor, Jacques T. Nolthenius.
Robert B. Cone, Secretary; Wm. S. Taylor, Treas­
urer; Frank B. Wilcox, Asst. I’ reas.; Jacques T.
Nolthenius Asst. Sec.; E. S. Mosher, 2d Asst. Secy.;
Trimble & Braley, General Attorneys.

3* and 3 9 W a ll Street, New Y ork.
Paid-up capital.............................. $ 1 ,9 0 0 ,0 0 6
Surplus.............................................. 1 ,0 0 0 ,0 0 0

Execute* a General Trust Business.
Acts as Trustee, Transter Agent or Rrgis>
trur for Corporations.
Acts ns Exeeu'or, A dmi ulstrai tor, Guardian
or Trustee of Estates.
Collects W estern Mortgages.
Takes Churge of properties, collecting
Rents, paying taxes, etc., for E ast­
ern investors.

Designated as a legal depositary by order of
Supreme Court. Receive deposits o f money on in­
terest, act as fiscal or transfer agent, or trustee for
corporations, and accept and execute any legai trusts
from persons or corporations, on as favorable terms
as other similar companies.
Thoma9 Hillhouse, Pres. Fred’kD . Tappen, V.-Pres.
C. M . Jesup, 2d V.-Pres.
Beverly Chew, Secretary.
George D. Coaney, Assistant Secretary,

Of the City ot New York.

46

W ALL

STREET,

NEW

YORK

Capital, $ 1 ,0 0 0 ,0 0 0 |Surplus, $ 1 ,0 0 0 ,0 0 0
C H A R L E S S. FA IR C H IL D , President,
W M . L. STRONG, 1st Vice-Pres.
JO H N L . LAM SON, 2d Vice-Pre ,
AB R AM M. H Y A T T , Secretary.
Z E L A H V A N LO A N , A sst. Secretary.
Aut horized to act as executor, trustee, admiuistra
tor, guardian, agent and receiver.
Receives deposits subject to sight drafts, allowiu*
interest. A legal depository for court and trust funds
A designated depository for the reserve of State
banks. Accounts of banks and bankers solicited.
TRUSTEES.
C. S. Fairchild,
Edward Ubl,
James A. Blair
W . H. Appleton, M. C. D. Borden, J.G. McCullough
Wm. L. Strong,
B. Aymar Sands, H . Hoagland,
W . F. Buckley,
James J. Hill,
J. W . Sterling.
S. G. Nelson,
E. N. Gibbs,
II. Walter Webb
W m . A . Booth,
F. R. Coudert,
John A . McCall.
James Stillman,

Mississippi Valley Trust
Company,
303 N. 4th Street, St. Louis, Mo
Capital and Surplus.................... $ 3 ,0 0 0 ,0 0 0
U ND ER S T A T E SUPERVISION.

$ ‘£ 0 0 ,0 0 0 deposited with State officer to
protect trust liabilities.
A G E N E R A L TRUST COM PANY BUSINESS
Allows interest on Deposits.
Authorized to act as Executor, Guardica, Receiver
Trustee, &e. Manages Estates. Collects Rents.
Becomes Surety on all kinds o f Court Bonds.
Has Safety Deposit Vaults; A Savings DepartmeuINVESTM ENT SECURITIES A SPEC IALTY
DIRECTORS
Charles Clark,
Geo. H . Goddard.
Thos, T. Turner,
James Campbell
Wm. F. Nolker, J.T.Drummond, August Gehner,.
T. O’Reilly. M.D., S. E. Hofftnan, Julius S. Walsh.
Sam. M.Kennard, D. W Caruth, Williamson Bacor..
Aug. B. Ewing,
Thos. E. Tutt, Breckenr ge Jones
Elmer B. Adams, David R. Francis,Henry Hitch cock.
OFFICERS.
J u l iu s S. W a l s h , President.
D a v i d R. F r a n c is , 1st Vice-President.'
B r e c k in r id g e J o n e s , 2d Vice Presx
D e l a c y Ch a n d l e r , Seoretarfi: