Full text of Commercial and Financial Chronicle : April 6, 1895, Vol. 60, No. 1554

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SE P R E SE N T IN G TH E IN D U ST R IA L AND COMMERCIAL IN T E R E ST S OP TH E U N IT E D STA TES.
[ E n te r e d according to A ct o f Congress, in th e y e a r 1 8 9 5 , b y th e Wil l ia m B. D a n a C o m p a n y , i n t h e office o f t h e L i b r a r ia n o f C o n g re s s .]

vS

VOL. 60.
$ h c

SATURDAY, APRIL 6, 1895.
© h r u iiix le .

PINE STREET, N. W. CORNER OF PEARL STREET. N. Y.

CLEARING HOUSE RETURNS .
For the month of March and the three months the exhibit
is as follows :
Three Months.

March.
1895.

1894.

*
$
2.240,741.015 '2,048.811.551
2d6.173.738 242,090,585
53.077.683
50,945.670
51.262.231
61,681,497
14,696,110
16,307.410
6.424.426
7,793.862
W ash in g to n ..
6.154.5W
6.206,633
3,267,262
3.034.277
3.404,529
3.210,711
2,665,303
2.765.169
1,376,000
1,838.400
B ingh am to n ..
T o tal Middle 2.650,2l8.3o2 2.434,136,267
860.469.254 348,581,027
17,032,900
19.998,200
P rovid en o e....
8,240.168
8,750.314
H a rtfo rd .........
5,515,455
5,312,535
New H a v e n ...
5,162,216
5,813,932
Spring field ....
4,711,549
6,307,015
W o rcester......
4,608.443
4,864,904
P o rtla n d .........
3,251,116
3,133,"37
2,-91,702
2,457.8(0
Xioweil............
1,846,377
1,453,734
New B edford.
T o ta l N . Eng 417,580,895 401,920,953
■Chicago........... 866.787.271 343,024.104
49.712,800
49,902,450
C in c in n a ti......
38.296.0*8
18.9 8.361
M ilw au k ee....
22,440,964
24,741,392
© é tro it............
20,500.919
17,674,718
C le v e la n d .......
14,591,300
13,669,800
C olum b u s.......
6,781,250
9,778,018
4,66 .’,608
4,479,9 6
Indianapolis...
3.820.597'
3,030.375
G ra n d R apids.
1,4*2,622
1,525.000
L e x in g to n . .. .
1,613,209
1,219,063
Saginaw ..........
1,054,027
1,115,169
B ay City..........
711,208
800,0« >0
A kron ..............
657,649
790,255
Springfield__
605,078
680.076
C an to n ............
1,035,253
R o ck fo rd ........
1,037,88
1,000,000
1,039,445
K a lam az o o .,..
T ot.M .W est. 521,431,740 487,010,697

P .tt.

1896.

1891.

4-6-9 Ì.063.23‘1.643 1.006,023.983
-+0"<157,062,000
153,855,900
65,083,497
08,247.415
438
+lu-3
70,215.1'5
67,173,936
+16 0
62,113,485
54,555,719
-6-3
89,511.100
40,307,800
+44-1
28.261,393
19,572,430
-3-0
13.6 19,814
14,892,717
*26-3
10,95'¿,39 iJ
9,715,910
+7-2
4,512,635
4,390,597
+34’8
4,121,255
3.449.398
-5-8
3,558,167
3,062,891
+251
2,750,940
2,062,864
2,337,330
2,173.316
+21*1
+ 12-4
2,023,021
1,683,664
H-O-S
9,703.404
2,498,160
-+3-9
2,966.476
3,051,210
+6-9 1,531,233,453 1,443,672,022

B an Francisco.
P o r tla n d .........
S a lt L ake City
S e a ttle .............
T a o o m a ..........
L os A n g eles..
H e le n a ............
S pokan e..........
Sioux F a lls ....
•Fargo...............
T o tal Paclflo

56,250,690
4,710.000
* 4,530.418
1,887.853
2,298,673
4,826,111
2.26 ’,627
3,586,228
294,579
604,000
79,161,209

65.317,676 4-1-7
3,926,612 +19-0
i 4.900,719 —7-5
2,310,194 -18-3
2,414,435 —1’8
4,15(,045 410-2
2,109,875 4-7-3
1,148,216 +38-1
565,804: -47-9
488.7«>5 4-3*1
77.334,781 + 2 ’4

156,405,257
13,379,719
14,579,248
0,592.117
6,671,694
13,998,071
7.590,288
4.397.842
816,126
1,628,537
225,058,220

156.631,824
11,317,137
14,875,538
6,926,810
7,643,091
11.597,961
7,483,249
3,557,782
1,661,612
1,571,045
223,266,455

K ansas C ity...
M inneapolis... '
O m aha.........
St. P a u l...........
D e n v e r .... ...
D u lu th ............
S t. Jo se p h ...
Sioux City ...
Des M oines. .
L in c o ln ..........
W i c h i t a . .. .. .

39,450,680 +5-4
41,571,227
2 «,028,072 49-1
22,948,637
20.900,291 —29-7
14,752.65.1
12,876,103 +1-.-8
14,912,189
11,685,870 -1-3
11,534,416
7,767,063 —11*2
*6,900,OOo
5,712,360 +18-7
6,782.570
2.015.841 —lo-l
2,30l,4<3
4,399,406 —6-2
4,125,338
2,232,638 —34-5
1,462,7 34
2,2«<2,7rtl -4-10-6
2,4 36,395.
2,208.172 —7*7
2,037,573
489,576 —331
327,271
249.538
472.697 —47-2
134,331,730
132,344,992
—1-5

119,576,154
63,724,559
40,276,196
46,555,514
33,625.066
20 880 OoO
18,488.843
6,856,953
12,503,881
4,961,308
6,910,606
6,081,892
898.602
742.447
388,140.721

114,145,762
62,284,427
59,703.894
38,420,566
33.679,331
22,663,368
19.645,831
8,311,550
11,9^7,815
6,387,646
6,910,268
6,142,011
1,139.239
1.129.169
392,790,880

F re m o n t.........
(H a stin g s........
T o t. o th ’r W.

299.818.609
279,550.139
99,966.994
91,251,361 +9-5
St. L o u is.........
119,609,758
38,576.169 ■41-2
89,017.907
128.551,942
New O rleans..
78.675.972
24,172,713
27,604.780 - 1 2 4
81,761,581
L ouisv ille.......
83,203,797
8,625,369
29.586.199
10,204.330
G a lv esto n .......
32,574.430
9,732,717
7,746,700 4-25-6
*8,412,280
H o u s t o n ........
30,538,761
9.448.473
0,324,657 4-1-3
28,660,160
R ichm o n d . .. .
8,675,269 -13-3
27.473.03i
7,522.188
25,*59, 25
S a v a n n a h .....
22,975,675
7.457,480
6,728,306 410-8
21,503,269
M em phis.........
12.395.679
4.143,369
3,902,671 4-6-2
11.713.311
N a s h v ille .......
14,482,208
4,501.080
4,467,897 -+2-1
14,698,879
A tla n ta .........
6,130,966
16,28',011
4,991,342
15,225,044
D a lla s.............
11,935,434
4,232,094
3.590,527 +-21-6
11,572,943
■Norfolk..........
13,652,443
4.771,403
2,550,495 + 87-1
8,353.613
W aco...............
3,043,686
2,461,469 +23-6
11,426,614
9,044,505
F o r t W o rth ...
4,259,413
1,574,393
1,453,500
4,0*8.610
B irm in g h a m ..
1,529,000
5,170,0*3
2,044,294 —25-2
5.761,844
J a c k s o n v ille ..
939.957
894,030 4-5-1
2.784.809
2,675,563
C hattan o o g a..
737,437,660
T o ta l South. 237,477.846 224,696,836 -+5-7
706,359,618
T otal aU....... 4.038,235.073 3,760,337,264 47-4 11,850.824.186 11,031,378,369
O utside N. Y. 1,797,494,058 1,711,525,713 +5-0 5,356,969,529 5,092,962,972
45.715.370 —7-1
42,464.699
M ontreal. . .. .
128,634,486
123,990,101
22.332,190
22,893,878 -2 -5
70.787,547
T o r o n to .........
69.400.451
4,174,308
4,744,920 -1 2 0
13,290.816
H a lif a x ..........
13,657,776
8.510,411 -17-0
2,915.000
«W innipeg.......
9,703,431
11,023,294
2.462
«4«
2.739.064
-10-1
7,852.250
H am ilto n ........
8,498,439
79,603.643 -6 - 6 1 230.068.560
74,348,815
226.536.Onl
T ot. Canada.
♦ E s tim a te d .
-VÊT Kai’ table oi clearings by telegraph see Page 5 9 1 .




The week’s total for all cities shows a gain of 12‘9 per cent
over 1894. The decline from 1893 is 13 (5 per cent and the fall­
ing off compared with 1892 is 23 3 per cent. Outside of New
York tbe aggregate for the current year exhibits an excess,
as compared with 1894, of 9'3 per cent, but contrasted with
1893 there is a loss of 11'3 per cent. The decrease from the
__________ _____ ____
1892 figures reaches 12 f4 per cent.
Week ending March 30.
1894.

Clearings a t—
P.VK

$
S
+9-4 6,499.854,657 5,938,415,397 + 9 5
+9*0
791,767.362
699,098.629 +■13 3
-6 -6
162.429,664 -0-9
160.953.405
+0-S
154.753,789
152,425.211 4-1*5
+ 11-4
48,260,742
45.612,510 + 5 8
i-21-3
22,552.967
19,341,054 +16-6
+0-8
19.302.953
17,824.802 +8-3
—7-1
10,765,680
10.347.780 44-2
—5*7
9.004,117
9,596.222 -6 -2
+3-4
8 891.13'«
8,232,991 + 8 0
—2-7
4,129,300 -4-5
3.944.000
+8-8 7,730,042,802 7,067,433,500 + 9 4
F3-4 1.068.277,118 1,031.468,818 + 3 4
+13-4
63.881,900
55,719.100 4146
+6-2
28,337,019
25,855,573 + 9 6
—3-7
17,23«),757
17,373.295 —09
+12-6
17,418,305
16,167,952 +7-7
+1S-1
15,619,325
14,016,044 +11-4
+5-6
14,767,244
14,229,356 +3-8
—3-6
9,593,208
9,7*2,342 —1 9
+-2"8
7,263,551
7,552,577 —8-8
—21’3
4,522,89»
5,790,777 —219
+ 3 9 1,244,911,321 1,197,955,834 +3 9
+5-7
4-2-1
4-5-7
-t-9-C
4“13 y
-2 0
+44-3
-8-1
412-7
+19-5
416 2
4-33-4
+7"5
+19-8
+8-2
—**ö
-»-0*1
-0 1
+18-2
-2 0
-19-3
-1 2 7
+20 7

NO. 1554

Chicago.................
C incinnati...............
M ilw aukee......... .
D e tro it........... ........
C leveland................
C olum bus...............
P eoria......................
In d ia n a p o lis..........
G rand R a p id s ......
L exington ...............
Saginaw...................
Bay C ity ..............
A kron.......................
Soringfleld, Ohio...
C anton.....................
R ockford.................
K alam azoo............
Tot. Mid. W e st’n.

San F rancisco..
P o rtla n d ............
S alt L ake C ity..
S e a ttle ..............
T acom a.............
Los A n g e le s....
H e len a ...............
S pokane............
*-23-6 Sioux F alls.......
-50-9
T otal P acific.......
•43-7
+0 8

+4-5
-42-3
-22-5
+21-2
-0-2
—7-0
—60
-17-5
+4-8
-22-3
+0-9
—1*0
-12-2 H a stin g s..................
Tot. o th e r W est.
—34 "2
—1 2
O rleans............
+7-6 New
L ouisville................
-6-9 G a lv e s to n .............
3*8 H o u sto n ...................
4-12-5
+14-7 S avannah ................
46*6
+8-8
46 8
+5 8

1892.

+16-0
+19-0
—1-0
+2-9
-412-7
+19-3
45-0
+49-2
+18-5
—1-4
—8-0
+15-6

582,034,722
54,372.615
11,285.446
11,524,485
8.828.341
2,232.429
1,406 331
847.435
852,800

706,037.489
66.884,886
13,0*9,767
13,706,187
8,167,271
1.856,261
1,526.601
789,653
797,270

228,700
669,213,393

237,900
806,738,124

71,582,327
3.7*4,000
1,843,073
1,214,045
1,203,908
1,065,932
812,550
605,306
625,660
377,327
82,954,138

+5-8
+18-5
—9-2
-2-7
-4 -2
+5-7
+25-5
-1 -3
- 0-7
—21-9
+ 5-7

90,578,117
4.958 100
1,989,929
1,200.158
1,200,300
1 297,583
1,053.503
7 9 885
548,875
424,768
104,017,284

95,766,911
4.996,700
1.991,693
1,272,276
1,396,354
1.410,470
1.205,366

71,729,680
10,382,100 . 10,« 60.450
3,165.277
8,929.17”
5,039,68
4,807,101
3,633,47*
4.498,047
3,187,500
3,0(4,200
1.373.700
2,053,155
996,739
620,026
254,188
313,66'
236,218
228,177
156,932
119,511
115,550
226,151
183,472
192,449
112,074,226 100,806,145

+10-7
-0-8
+24-5
+-17 0
+23-8
+5-0
+49-5

93,624 261
12.608.500
8,211,4 23
6.400 000
5,228 043
2,747.000
1,6-0,500
783,283
770,255
431.134
334,109
277.044
225.469
204,020
165,000

87.350,476
12,738,650
6.899,047
5 644,539
4 805,686
3.876.900
1.927.900
1,088,897
664,731
355,603
258,080

133,776,831

124,922,079

12,807,530
1,037.373
982,102
450,826
528,140
1,053,326
567,500
342,844
60,521
90,222
17,910,395

12,919,039
885,657
1,2C4,68P
478.C22
545,280
735,9i 9
6*2,542
2)1,32*
117,505
72.188
17,682,743

—0-9
+17-2
—18-4
—5-8
-3 1
+432

15.155,871
2,029,779
1,500,000
855,682
707,797
677,855

+70-3
—48-5
+25-0
+1-3

14,377,780
1,490,809
1,148,720
1,003.433
918.444
853.991
891,3-9
72*.691
159,340
21,606,147

21,081,984

9,556,290
4.844,584
3,2/l,2»9
3.059.725
2,136,0*1
1,600,000
1.240.994
552,274
968,989
321,648
559,178
467,70«
75,778
55,106
28,710,634

8,439,435
4,655,765
4,221,2 8
2,567,990
2.270,000
1,490,611
1.235,917
637,312
1,023,281
352,414
496,118
392,855
07,376
105,000
27,055,318

+18-2
4-4-1
—22-5
+19-2
—5-9
47-3
+0-4
—18-3
-5 -3
-8-6
+12-7
419-1
+12-5
+47-5
■42*7

10,460.888
4,088,778
6,181,140
8,685,557
4,154,204
2.001,031
1,865.720
1,068 935
1,256,280
4*2,592
522.613
364,151
103,891

8,631,765
6,201,724
4,582,208
4,804,773
4,366,444
1.520,938
1.619,239
1,108,148
904,646
614,535
538,725
386,055
99,883

37,095,675

35,178,978

20.278.500
8,118,950
5,153,718
2,169,737
2.279,744
2,237,582
1,575,850
1,683,254
»50,000
952,189
1,101,656
980,007
1,179,940
478.796
359.217
360,000
210.000
280,688
50,079,146

18,125,711
7.830.185
6,420,107
1,028.680
1,601,769
2,005,618
1,542,087
1.202,878
873.107
881,6?0
1,060,208
741,948
6*2,762
309,761
368,388
428.244
178,992

+11-9
+3-6
-6 -1
+33-2
+4-2-3
4-11-6
+ -2 Ì
+39-9
+8-8
48-0
+3-3
+33-4
+89-5
+19-8
—2-5
—15-9
+17-4

22,107.870
8,454,027
6.089,302
3.337.220
2,034,178
2,188,519
1,509.651
1,793,970
1.129.582
1.275,563
1,073 60*
859.350
750,340
601,497
459.934
6l 0,000
380,865

20,653,781
9,302,687
7,158,279
2,091,820
1,522,586
2.065,799
1,220,308
2,967,681
1,363,848
1,772,194

44,994.098

+11-3

66,195,485

53,574,229

New Y ork..........

B oston....................
Providence............
H a rtfo rd ................
New H aven............
Springfield.............
W orcester..............
P o rtla n d .................
Fall R iv er.............
L o w e ll................
New B edford........
-Total New Eng..

1893.

*
425,252,858
50,611,939
12.271.194
11,802,833
3,154,466
1,215,927
1,251,805
505.994
606,/-80
681,442
289,60c
507,277,971

P h i la d e l p h ia ...

P ittsb u rg ...........
B altim ore..........
Buffalo...............
W ash in g to n ....
R ochester..........
S y rac u se...........
W ilm ington.....
S c ra n to n ........
B in g h a m to n ....
T otal M iddle.

1895.
P . Cent.

3,555.314

536,346,21*
76,719,408
4,413,r00
1.674,771

1,181,112
1,153,54r
1,126 292

294,806
87,702,428

+6-9
+ 3 1 Fort W o rth .............
+ 63-4
+26-3
+5-7
-10-3 L ittle Rock*............
•441
T o tal S o u th e rn ..
+4 4
T otal a ll............... 882,823.071
-1-7-5
+5-2
O utside N. Y ork. 889,411,233
+3-7
42-0
8,528,008
-2-7
4,787,208
-12-9 H a lifa x .....................
946,290
-10-0
601,910
493,771
+1-6 H am ilton............... .
T otal C anada.......
15.857.193
* N ot in cluded in to ta ls .

781,670.413
358,417,665
9.449,163
5.043,858
1,005,84«
691,562
520,42*
16.610.853

+2W0
+26-4
+32-6
465
+5-S
+45-2
+17-4
+23-4
48-6
+11-2

$

686,229
415,622
100,140,611

212,271

156,000

1,000,000
709,670
449,224
398,997
560,613

436,943

+12-9 1,021,864,615 1,150,631,006
+ 9 3 439,229 893 444,593,616
—9*7
-5 - 1
—5*9
—13-0
-6-1
—8-1

10.515 115
4.01C.C12
730,680

0.771,855
5,728,462
899,82»

697,902
16 451 8-.’9

758,654

582

THE CHRONICLE.

[VOL.LX*

cent premium are said to make the price of the bond®
about on a parity with that in New York.
STATE ATI© CITY SUmEWENT,
Another idea bearing on this same general subject
revised and the figures brought down to as near the day was suggested by one or more of the daily journal®
Of publication as possible, w ill be issued next Saturday, early in the week, and has been kept afloat in Wall
April 13.
Street since with some unsettling features addedThe form the idea now wears is that if the Supreme
THE FINANCIAL SITUATION.
Court should declare the income tax unconstitutional
Affairs have remained in a more quiet, uneventful the coming week, the Government will before the
state this week, conditions continuing much the same summer is ended be short of cash and in trouble, and
as last week, except that on the one hand the stock another bond sale will become necessary and credit will
market has been dull again and prices a little lower, be d sturbed again. We should interpret the effect of
while on the other a rain in the West has restored the that decision very differently. Our way of expressing
promise of a fine start for the winter-wheat plant it would be that if the Court should declare the income
almost everywhere. There is of course no real connec­ tax unconstitutional the decision would prove one of the
tion between a declining stock market and a good most exhilarating events that could happen—it would
wheat crop, but coming together they may perhaps establish the fact that we have a Constitution, that Con­
be taken as representing as well as anything could gress must observe its limitations, and would materially
But aside"
the capricious character at the moment of the strengthen instead of disturb credit.
public mind.
Wheat and cotton have likewise from that, the plea that the Government in­
shown a sympathetic tendency; not wholly sym­ come would thereby be made so short as topathetic either, for a larger production of wheat be troublesome is wholly without warrant. We
which the better prospects of the growing plant en­ review on a subsequent page to day the monthly Treas­
courages, and the continuing larger supply of old cot ury figures. There it will be seen that the March
ton comiDg in sight daily, added to a kind of skeptical revenue came within one million dollars of covering
feeling in regard to the promise of a smaller planting the disbursements ; that the first of April is an interest
of cotton this spring and consequently a smaller yield period, and consequently that month, if there is nothe coming season, are well suited for depressing those further increase in the income, will be short of the
markets, especially at a time when the inclination of disbursements about 6£ million dollars. There aro
the mind is to take counsel of its fears. Then too two other interest periods this year; say we estimate
some Western railroad earnings have Gome in showing the shortage of those months at an average of 7 million
considerable losses ; every one knew that this must be, dollars and the other months at one million dollars
with business still slow especially in that section, and each, the same as March; the total excess of dis­
bursements up to the first of January 1896 would in
with only the ends of short crops to market.
The trouble is, the mood of the week has not been that case be (with 6^ million dollars for April included)
as expectant in Wall Street circles as it was, not­ less than 27 million dollars. The Treasury started
withstanding the great tell-tale markets of iron and April with a balance of $187,917,261. Deduct 27 mil­
dry goods have been giving new signs of promise. At lion dollars from that amount and there is still left
the same time the principal grounds we have heard ex­ nearly 161 million dollars. Is there anything distur­
pressed for any gloomy or unhopeful anticipation have bing in such a balance as that ? Besides, the syndicate
been of a surprisingly remote character. Heretofore has not paid up in full yet for the present loan.
the fear hinted at or proclaimed has chiefly been of an
Our statement of bank clearings for the month of
export of gold which was claimed to be imminent. March illustrates the steady improvement which is
This week the present situation in that particular seems taking place in business. In the aggregate the total
so well assured that the only mention we have heard is 7*4 per cent larger than for the corresponding month
of the matter related to the first of August, when last year, and at New York the showing is even better
according to the arrangement the Government bonds than this, the gain ini that case being 9*4 per centare to be delivered to the syndicate. The idea ex­ Outside of New York the increase has been just 5 per
pressed was that the London quota would be re­ cent. Last year there was 37 per cent decrease at New
turned to the United States at once, the current York, about 21 per cent decrease outside of this centre-,
price in New York and London favoring such and nearly 31 per cent decrease for the country as a.
a movement, and that a large export of gold whole. In view of these heavy losses in 1894 it may
would then be imperative; indeed it was related that seem that the recovery the present year has been com­
some brokers with arbitrage facilities have offered paratively slight. But on their face the returns do not
to buy the bonds for parties here as soon as delivered. indicate the full extent of the improvement. We dwelt
That idea hardly needs replying to. If the chance of two weeks ago upon one feature in the comparison»
gold exports depends upon an event to happen four which must always be borne in mind, namely the low
¡months hence, it does not seem as if we ought to make prices prevailing for all articles and commodities—so
ourselves wretched over it now. Still it is well enough much lower than in either 1894 or 1893. In the re­
to correct a misapprehension as to what the quotation in marks referred to we took cotton for purposes of
Iiondon means. There were about 28 million dollars illustration. The price of that commodity appreciated
of the new 4 per cents reserved for issue in London, considerably during March, but nevertheless the aver­
and a large dealer in governments tells us that the scrip age for middling uplands at 6*07 cents for the month
for these carried a coupon payable August 1. The compares with an average of 7*60 cents for March 1894
issue price was 113£, equal in New York with exchange and with an average of 9 cents for March 1893.
During the late month too there was a special dis­
at 4 88 to 110*776 tvith the May coupon off. The bonds
dealt in here will not be quoted ex May coupon until turbing factor, making the comparisons less favorable
the 15th of April, and then the quotation will probably than they otherwise would have been. The month
be about 118| bid. Eecent London quotations of 5 per I contained an extra Sunday and therefore one business.
A n e w e d it io n o f th e




THE CHROJNLCLE.

A pril 6, 1895.]

day less than the same month of 1894 or 1893—that is,
there were only 26 business days in March the present
year as against 27 days in the two years preceding.
The difference amounts to a loss of nearly 4 per cent,
and obviously, except for this circumstance, the in­
crease would be between 10 and 11 per cent instead of
7*4 per cent. When in addition we take into account
the effect upon clearings of the lower prices, the com­
parison is seen to be very satisfactory. In the follow­
ing we give the comparative results for the last three
months.
MONTHLY CLEARINGS.

Clearings Outside New York.

Clearings. Total All.

Month.

P. Ct.

1894.

1895.

9

9

1895.

1894.

3

s

P.Ct.

1,895,034,715 4-8-2
1,486,408,544 +4-1
1,711,525,713 +5-0

4,407,412.680 4,060,598,771 +8S 2,012,770,245
3,411,146,463 3 210,443,334 H-6-3 31,546,705,226
4,033,335,073 3,760,337,264 +7-4 1,797,494,058
1st quar.. ll.856.82l.186 11.031,378.369 4-7-5 5.356.969.529

Ja n u a ry .
F e b ru a ry .
M arch .......

15.092,962.972 +5-2

The improvement here recorded, it should also be
noted, has been made in face of a great contraction in the
grain movement on account of last season's crop shortage
and poor business in certain sections of the West result­
ing from that cause. The effect of the influence in
question is seen in the heavy falling off in the aggre­
gates of clearings at special points. For instance, at
Omaha the total is 29*7 per cent less than a year ago
(and this follows an even heavier decline in 1894) and
at Lincoln the total is 34*5 per cent less. Some other
points in the same section have done much better
than this; nevertheless the aggregate for the Far-West­
ern group falls 1*5 per cent below a year ago. All the
other groups have increased. For the Pacific group
the increase is only 2*4 per cent, for the Southern 5*7
per cent, for the Middle Western 6*9 per cent, for the
New England 3*9 per cent and for the Middle 8 ’8 per
cent. Below we furnish comparisons for four years for
a number of points.
BANK CLEARINGS AT LEADING CITIES.

fOOO.OOOs
om itted.)
N ew Y o rk ...
Chicago.........
B oston..........
Philadelphia
St. L o u is. . . .
San Fran’oo.
B a ltim o re...
P ittsb u rg .. .
Cincinnati...
New Orleans
K ansas City.
L o u isv ille...
Buttalo.........
Minneapolis.
M ilw aukee..
D e t r o it ......
Providence..
Omaha.........
C levelan d ...
D enver.........
St. P a u l.......

---------------March,.-------------- >
1895. 1894. 1893. 1892.
$
$
$
$
2,241 2,049 3,251 3,261
367
404
313
443
360
349
394
433
266
242
294
323
108
100
91
99
56
55
67
67
51
54
63
60
52
51
59
60
53
50
50
62
39
44
39
47
39
42
39
48
24
35
28
29
16
16
15
20
23
21
27
30
27
19
40
18
22
31
26
25
23
20
25
18
15
22
21
30
24
27
21
18
22
12
12
22
15
13
20
20

T o ta l......... 3.814 3,518 5,149
Other cities..
224
212
272

,— J a n u a ry 1 to Mar. 31.— •
1895. 1894. 1893. 1892.
$
$
$
$
6,500 5,938 9,879 10,047
1,063 1,006 1,296 1,167
1,066 1,031 1,301 1,211
970
792
962
699
300
280
317
295
193
157
156
193
162
202
161
185
179
152
184
155
192
154
182
157
120
129
159
145
139
116
120
114
82
79
106
91
45
48
59
46
64
62
86
92
112
55
83
58
73
79
67
96
64
84
56
69
92
60
46
68
62
55
77
68
63
34
34
66
62
61
47
38

5,051 11,165 10,377 15,647 15,426
810
736
792
654
246

Total aU ... 4,038 3,760 5,421 !5,297 11,857:11,031 16,457 16,162
Outside N.Y. 7,797 1.711 2,170 :2 ,036 5,357 5,093 6,578 6,115

During March speculation on the Stock Exchange
was more active than for some time previously. Still
the aggregate of the share sales for the month was only
5,128,539 shares, which compares with 3,024,032 shares
in February 1895 and 4,755,383 shares in March 1894,
as will be seen by the following.
SALES OF STOCKS AT THE NEW YORK STOCK EXCHANGE.
1895.

Month. Number
of Shares.

Par.

Actual.

%
J a n . .. . 3,243,905
F e b — 3,024,032
M arch. 5.128,539

1894.

Values.
9

318,422,500
300,314,750
499,445,800

thf. or 11.39« 47fi 1 11ft




Number
of Shares

050

192,836,084 4,519,463
180,108,308 3,173,527
301,268,171 4,755,383

ORO010

12.44ft

Values.
Par.
9
445,082,520
310,597,250
464,925,000

Actual.
9
257,323,270
186,671,536
281,106,748

1.220.004.770 725.101.554

583:

It will be seen that the approximate market value of
the sales was 301 million dollars in 1895, against 281
million dollars in 1894.
Like the clearings, current returns of earnings are
quite satisfactory. N otw ithstanding the small grain
movement, which has caused heavy losses on a number
of Western roads, and notwithstanding there was an
extra Sunday in the fourth week of March, our prelim­
inary statement for that week shows only a trifling de­
crease from a year ago. For the full month 53 roads
reveal a decrease of 1*02 per cent. A rather adverse
feature in the situation of the roads east of Chicago is
the continued demoralization of east-bound freight
rates, the condition now being such that grain is being
taken at a rate of 12 cents per 100 lbs. from Chicago
to New York. On the other hand the presidents of
the anthracite coal roads had a meeting yesterday at
which considerable progress was made in the adjust­
ment of the relations of these roads. A committee ©£
five was appointed to consider the points at issue. If
this committee find themselves unable to reach an
agreement, it is understood they will resort to arbi­
tration. A resolution was adopted pledging the roads
to give effect to the action of the sales agents in limit­
ing the production for April to 2,600,000 tons.
Early in the week the indications pointed to the
maintenance of a firm tone for money on call at the
Stock Exchange, there being a good demand for funds
from the East and somewhat restricted offerings, and
loans were daily made until Thursday at 2$@3 per cent,
making the average about 2 f per cent. On that day
and thereafter there was a little better supply, resulting
from the disbursement of April interest and dividends,
and at the same time a lighter demand, and rates fell
off ¡to 2@2£ per cent, averaging about 2£. Banks,
and more particularly those connected with the Syndi­
cate, maintain 3 per cent as the minimum, and some of
the up-town institutions have had a good demand this
week from buyers at the Jaffray sale, who are required
to make settlements within ten days.
Down-town
banks not connected with the Syndicate, trust com­
panies and foreign bankers loan at 2|@ 3 per cent.
Though time money is firmly held the demand is small
and there is comparatively little business, and rates
are 3£@4 per cent for sixty to ninety days and 4@5 per
cent for four to six months. As to commercial paper,
brokers report that there are fairly full lines of paper
offering, some of which is new and made by tobacco,
grocery and dry goods jobbing houses, but the demand is
comparatively light. Banks having correspondents in
the South, and more particularly in the Southwest, re­
port a good inquiry for re discounting, and consider­
able of this has been done during the week. Western
banks are not applying to their New York correspondents
for the reason that they can be accommodated on favor­
able terms at Chicago. Collections are reported as
good, though the volume is not usually large
until May, and except among some of the jobbing
houses the mercantile situation is regarded as sound.
There are apprehensions of failures of jobbers and
other merchants who have had a hard struggle thus far
to meet their engagements, but it is thought that the
losses will not be heavy. Buyers of paper are closely
scrutinizing names, and only the best are accepted.
Brokers look for a more liberal supply of satisfactory
names after next week, and then it is expected that
some of the banks that are now out of the market will
be seeking paper. Quotations are 4@4^ per cent for
sixty to ninety day endorsed bills receivable, 4f@5^- per

584

THE CHK0M1CLE.

cent ior four months* commission house and prime four
months* single names, 5@6 per cent for prime six
months* and 6@7 per cent for .four to six months*
good single names.
The cable announces that on the 30 th ultimo an
armistice was signed between the Japanese and the
Chinese authorities suspending-active hostilities until
midnight on the 20th inst. A later cable received in
Washington says that peace negotiations were proceed­
ing so rapidly that they would probably be concluded
this week, and that Japan has demanded and China
consented to the possession of Formosa, a war indem­
nity of 400,000,000 yen, the independence of Corea,
and the possession of that part of Shantum which in­
cludes Port Arthur, and sufficient territory surrounding
that point for military and strategic purposes until
the indemnity shall have been paid. It was also as­
serted that Russia will not interfere with these condi­
tions. The news of the signing of the armistice caused
a rise in bar silver in London on Saturday to 30p pence
per ounce, and on Monday it advanced sharply to 30f
pence, subsequently
falling off
on realizing
sales, and on Friday it was quoted at 29$pence. The Bank of England minimum rate
of discount remains unchanged at 2 per cent. The
cable reports discounts of sixty to ninety day bank
bills in London 13-16 of 1 per cent. The open market
rate at Paris is I f per cent and at Berlin and Frankfort
i t is also I f per cent. According to our special cable
from London the Bank of England gained £14,070
bullion during the week and held at the close of the
“week £37,744,020. Our correspondent further advises
us that the gain was due to the import of £1,147,000
(of which £806,000 were bought in the open market,
£150,000 were from Egypt, £100,000 wero from Bel­
gium , £80,000 from Australia and £11,000 from China),
to shipments to the interior of Great Britain of £1,122,000 and to exports to the Continent of £11,000.
The market for foreign exchange has been dull and
generally strong this week. Commercial bil s are few
and the offerings are promptly absorbed; a feature is that
they command prices nearly equal to those ordinarily
ruling for bankers* sixty-day bills, when sight drafts
are at the normal gold-exporting point. The reason
for this is, the easier discounts in London this week
have reduced the difference between long and short and
caused an advance in sixty-day sterling by some of the
drawers. There is reported to be a steady demand for
remittance from nearly every quarter, including coffee,
¿sugar and dry goods houses, but chiefly from bankers.
It is claimed that nearly all of the latter who are inter­
ested in the success of the Syndicate efforts to meet the
ordinary requirements of the market, and at the same
tim e to prevent the export of gold, are more or less en­
gaged in operations which have the appearance of
manipulation.of exchange having for its object the
maintenance of high rates in the interest of the Syndi­
cate ; these operations are so complicated by purchases
of one class of sterling and selling of another that it is
difficult to determine how far the market is influenced
by what may be regarded as a legitimate demand from
actual remitters. There is no question that these bank­
ers are in control of the m arket; few or none now ex­
press any doubt of their ability to carry out their
plans for retaining control, and there is no disposi­
tion on the part of bankers who are not
directly interested with them to do anything which
will embarrass them in the least or to antagonize the
effprts which the Syndicate are making to encourage




[VOL. LX.

tne growth of confidence in the financial situation.
With the exception of an advance by Lazard Freres on
Monday in their rates to 4 88|- for sixty day and 4 90£
for sight there was no change in the posted figures by
any of the drawers until Thursday, when Brown Bros.
& Co. advanced the long rate half a cent, leaving the
short unchanged. The alterations in rates for actua 1
business from day to day were so slight as not to be
quotable, and there was but little variation in the tone.
Fluctuations in francs and guilders were only 1-16 of
1 per cent and no change was made in marks. Opera­
tions by the arbitrage houses had no special influence
either way, and the offerings of bills with a view to the
employment of the proceeds in the money market
were comparatively light. The tone at the close of
Thursday was quite strong and some bankers reported
sales of long sterling at 4 88£ and of short at 4 89£,
with these figures bid. Yesterday the conditions were
unchanged, the market remaining firm. The following
table shows the daily posted rates of exchange by lead­
ing drawers :—
Fri.,
M ar 29.
.
Brown
^ y s- . 69
m
o w n Bros
rsro s.... 5£ 6?
Sight....
90«
Baring,
(60 days. . 89
Magoun & Co. \ Sight.... • 90«
Bank B ritish
(60 days. . 89
No. A merica.. \ Sight.... • 90«
B ank of
560 days. . 68«
M ontreal........1 Sight.... . 90
Canadian B ank (60 da vs. . 89
of Commerce. \ Sight.... . 90«
Heidelbach.Ick- <60 days. . 89
elheim er & Co \ Sight.... . 90«
. 89
. 90
M erchants’ Bk. f «0 days. . 89
of C an ad a.... 1 S ight.... . 90«

Mon.,
A pr. 1.
89
90«
89
90«
89
90«
88«
90
69
90«
89
90«
89«
90«
89
90«

Tues.,
A pr. 2.
69
90«
89
90«
89
90«
88«
90
69
90«
89
90«
89«
90«
89
90«

W ed.,
A pr. 3.
89
90«
89
90«
89
90«
88«
90
89
90«
89
90«
89«
90«
89
90«

Fri.,
Thurs.,
A pr. 4. A pr. 6.
89«
89-«
90«
90«
89
89
90«
90«
89
89
90«
90«
88«
88«
90
90
89
8
90«
90«
89
8
90«
90«
89«
89«
90«
90«
89
89
90«
90«

The market closed firm on Friday at 4 88^@4 89-£
for sixty-day an d /l 90@4 90£ for sight. Rates for
actual business in sterling were 4 88£@4 88^ for long
4 89£@4 89-J for short and 4 89f @4 90 for cable trans­
fers. Prime commercial bills were 4 88@4 88£ and
documentary 4 87-|@4 87f. The Bourgogne, which
arrived on Sunday, brought $701,000 infraucs in transit
for Cuba, and the Teutonic, which came in on Wednes­
day, brought $1,000,000 American gold for Syndicate
account.
The Atchison statement of gross and net earnings
has been issued this week, and makes a much better
showing than the preliminary return of gross had led
one to suppose would be the case. By the early state­
ment it was estimated that there would be a loss in
gross of $50,489; the audited statement shows a gain of
$88,400, both amounts referring to the whole aggre­
gated system. With the increase in gross, expenses
were reduced a trifle, making the gain in net $88,718.
For the eight months of the fiscal year, however,
to February 28th, the system is $2,610,485 behind,
in gross and $1,965,924 in net.
The Mexican
Central for February has $19,377 gain in gross, $53,439
gain in net, and the Erie is also beginning to show
improving results, having $184,394 increase in gross
and $36,256 increase in net. Southern roads have not
done so well. The Louisville & Nashville reports
$116,187 decrease in gross and $142,992 decrease in
net, and the Southern Railway $191,834 decrease in
gross and $49,474 decrease in net.
The Den­
ver & Rio Grande has net of $199,015, against
$188,433 ; the Toledo & Oaio Central $32,244, against
$29,699 ; the Western New York & Pennsylvania
$39,380, against $38,738 ; the Rio Grande Western
$35,812, against $27,266 ; the New York Ontario &
Western $26,023, against $48,789 ; the Oregon Im­
provement $10,723, against 35,449 ; the St. Paul &
Duluth $17,477, against $17,050 ; the Buffalo Roches^

THE CHRONICLE.

A p r il 6 1895,]

ter & Pittsburg $33,229,’against $68,523 ; “the Ohic*sro
& West Michigan $6,506, against $12,145 ;*the Detroit
Lansing & Northern $11,161, against $1,362, and the
Cincinnati Jackson & Mackinaw $4,548 against
$8,844.

,------ ------— February E irnings
1893.
1894.
1895.
Name of Road.
$
$
1
3,«33,«80
2,810,710
A t. Top. & 8. F e ..................
2.899,116
606,563
856,153
595,271
N et
209,301
232,949
181.7-14
B a lt Roch. & P ittsb u rg ...
08.523
53,135
23.229
N et
125.983
116,048
116,028
Chicago & W est M ichigan.. .Gross
12,145 d e f 3.870
6,505
N et
43,946
51.028
53,086
Cin. Jac k so n & M ack..........
8,314
9,782
4,548
N et
482,140
493,152
670,278
D enver & Rio G ran d e.......
188,432
191,014
274,068
N et
85,879
80,796
75,190
D e tro it Lans. & N orth ern . .Gross
1,326
11,160
1,861
Net
l,4 al,127
1,36»,94.0
1,817,568
Louisville & N ashville.......
596,452
453,460
709,154
N et
689,187
708,564
601,771
M exican C en tra l................
240,794
193,321
294,233
N et
N. Y. L ake E rie & W e s t....
*1,766.438 *1,582,044
2,100.482
*302,572
639,641
*3: 8,829
N et
223,862
N. Y. O nt. & W este rn .........
241.790
228.602
48,789
21975
N et
28,0*8
235,673 ' 261,424
248,215
Oregon Im p ro v em en t Co.. Gross
85,449
10,723
24.469
N et
147,921
130,731
R io G rande W este rn .........
184,837
35,812
27,280
N et
88,418
84.901
St. P a u l & D u lu th ................
88.082
112.573
17.050
17,477
15,494
N et
S outhern R ailw ay.............
1,595,613
1,448,292
1,256.458
Net
388,846
438.320
435,0»5
104,085
167,720
Toledo & Ohio C e n tra l....
127,958
29,r99
32,244
66,974
N et
208,700
195,839
W est. N. Y. & P a .................
256,118
39,380
51,140
N et
38,737

1892.
$
3,424,369
779,986
230.399
60,068
143,485
33,332
60 831
9,717
701,993
305,684
91,875
17,545
1,781,650
000,710
607,351
169,108
2,278,623
668,767
217,821
30,709
250,1(7
30,011
162.800
45.50|
130,778
61,560
1,687,463
600,502
126,378
39,355
266 449
74,337

* Figures fo r 1895 an d 1894 given on a basis slightly different from th a t fo r th e
previous years.

The following statement gives the week’s movements
of money to and from the interior by the New York
banks.
Received by Shipped by
N. Y. Banks. N. Y. Banks

Week Ending April 5,1895.
C u rre n c y .................................................
G old...........................................................
T o tal gold and le g a l te n d e r s .__

$3,595,000
400,000

Net Interur
Movement.

$2,213,000 G ain.$l,382,000
300.000 Ga>n. 100.000

$3.995,000 $2.513.000 G ain $1,482.U00

Result with Sub-Treasury operations.
Into
Bank».

Week Ending April 6,1895.

Out Of
Bank».

B an k s’ In te rio r m ovem eut, as above $3,995,000
S u b -T re a su ry o p e ra tio n s .................... 17,900,000

Net Change %
",Rank RohHnn.

$2,513,000 G a n $1.482,OoO
16,400,000 Gain. 1,500,000

T o tal gold an d le g a l te n d e rs ....... $21,895,000 $18,913,000 G ain. 2,982,000

Amount of bullion in principal European banks.
April 4, 1895.

Bank of
Gold.
E n g lan d .........
F ran c e ...........
G erm any.......
A ust.-H u n g ’y
Spain..............
N e th e rla n d s .
N at. Belgium.

Silver.

£
£
37,744,020
83,500.236 49.471,057
86,894,298 15,039,502
17,801,000 13,eS9,000
8,004,000 12,430.000
4,282,000 7,076,000
3,313,333 1,666,087

April 5,1894
Total.
£

87,744,020
132,971.893
61.933,800
31,490.000
20.434,000
11,358.000
4,970,000

Gold.

Silver

£
A
30.897,197
69.077,000 50,903,000
3 >,210,890 12,342,110
10,272, '00 18 293 000
7,918,000 8.200.000
4.335.000 7,099,000
3,112,807 1,556,333

Tota1
t
30,897,197
119,980,000
42,559,000
20,568,“»><0
16.118,000
11,434,000
4,669,000

T o t.th ls week 191,638,887 99,391,826 290,931,713 155,'*26,754 90 396.443 253,225,197
T o t. prev. w’k 194,694,021 100276052 294,870,073 155,995,8-3 96,142,237 252,138,120

WHY DO WE E X PO R T GOLD ?
We have received from Mr. Heidelbach the following
letter materially cutting down his estimate of the
charges annually maturing against the United States
and in favor of Europe, which estimate we criticised
last week. His letter and correction will not interfere
with our purpose to prepare a second article on the same
subject. For although this revision modifies the prob­
lem somewhat, we think we can easily shov that the
figures Mr. Heidelbach still holds to will require
further and severe pruning before his estimate becomes
adjustable to the facts.
N ew Y ork , April 1, 1895.
W illiam B. D a n a , E sq.,

E ditor Commercial and Financial Chronicle:
D ear S ir —I have read with much interest the article that
appeared in your issue of the Chronicle of March 30 entitled

“ Why Do We Export Gold?” and criticising my article on
the same question which appeared i n the F^^uary i' iru m .




585

Since the appearance of that article I have had a large num­
ber of communicati ons by mail and many verbal interviews
on the subject, and have come to the conclusion that m y es­
timates on freights are incorrect and should be reduced by
$50,000,000 to $30,000,000, thus making the -annual indebted­
ness in the total nearer $300,000,000 than $350,000,000.
Although there are no exact means of verifying the other
items, I have every reason to consider them very nearly cor­
rect for the last five years. In the years previous thereto I
should make the amount expended by Americans abroad not
more than about half of my present estimate.
These changes would result in a reduction of $50,000,000 per
annum for five years and of $100,000,000 for the other ten
years, or a total of $1,250,000,000 in the entire fifteen years
covered by your figures. This would leave $2,400,000,000, and
I hardly think that this amount for entire European invest­
ments during those years, in securities, property, mortgages
and temporary loans (productive and unproductive) is in any
way beyond the possibility of fact.
I have written you on this matter because you propose to
publish further articles. I am glad that you coincide with
me in my deductions, even though you question the correct­
ness of my figures.
Yours truly,
A l fr e d S. H eid el b a c h .

THE TR E A SU R Y SITUATION.
The first of April Treasury figures show no material
change in the revenue, though a further decrease in
disbursements as well as a material addition to the
cash holdings, due to the syndicate operations, have
added, though not very materially, to the strength of
the Government’s financial condition. The least satis­
factory revenue item is the income from internal
taxes. That source of receipts continues to exhibit
very little elasticity. The total in March was, to be
sure, $9,855,000, against $8,860,000 in February; but
measured by the daily average the real situation is
found to be almost unchanged, the average last month
being only $317,900, against $316,400 the daily aver­
age the previous month. We obtain a clearer idea of
the unsatisfactory character of the result when compari­
son is made with previous years; thus the total internal
revenue receipts, which were, as stated above, $9,855,000 in March 1895, reached $12,808,000 in March 1894
and $12,931,000 in March 1893 and $12,134,000 in March
1892. These and the previous contrasts tell plainly how
slow the growth hitherto has been towards a full recov­
ery, while at the same time they indicate a possibility of
larger revenue from this department of the service as
business activity develops.
A much better state of affairs is afforded by a com­
parison of the Customs payments. The revenue from
that source is steadily growing. In March the total
reached $14,930,000, against $13,335,000 in February
and $11,359,000 in March a year ago, and $10,261,000
in November 1894. Altogether the Government rev­
enue including the National Bank Fund— which, as we
have often explained, belongs as much to a correct
statement of the receipts and disbursements as any
other item—reached last month $25,985,000, against
$23,101,000 the previous month of February and
$25,928,000 in March a year ago. This is not quite as
large a total result for the last month as we looked for,
owing to the fact that internal taxes have proved less
productive than we anticipated. But, as already indi­
cated, the disbursements have been smaller, aggregating
(including the National Bank Fund) only $26,993,000,
and that fact makes the showing quite favorable, the
disbursements being only about one million dollars in
excess of the receipts. Whether the disbursement* are
to continue on this reduced scale we do not know. Of
course the months in which the hsavv interest pay-

586 f

THE CHRONICLE

ments fall due the outgoes will be larger. The
current month of April for instance the interest to be
met is about 5 f million dollars ; consequently all other
conditions remaining unchanged the deficit would
reach for April about 6 f million dollars. There is the
possibility of a larger income from internal taxes,
since each succeeding month makes more likely larger
withdrawals of whiskey; but as to Customs receipts
the prospect at the moment is that there will be very
little if any immediate increase.
The Treasury cash has been added to during the
month. That change, as is well understood, has been
brought about through the operations of the syndicate.
I t is difficult to tell from the published statements the
exact extent of the March payments on this account,
but they cannot have been large. The actual cash bal­
ance has increased $9,719,675, but this result is partly
accounted for because “ other liabilities” (which in­
clude balances to the credit of disbursing officers and
are deducted) have decreased $5,683,299 ; that leaves
the increase in the available resources about 4 million
dollars. If we add to this difference the one million
excess of disbursements over current revenue, the pay­
ments into the Treasury by the syndicate in March
would seem to have been not to exceed 5 million dol­
lars. The net increase in the Treasury gold during the
month has been $3,557,796 and the total “ Cash in
banks and sub-treasuries” is $4,036,376 larger than it
was the first of March. The latter item would seem to
confirm the above conclusion that the syndicate has
transferred to the Treasury only about 5 million dollars
during the month, the other million dollars being the
amount of the disbursements in exc.ss of the Govern­
ment revenue. This fact is interesting because the
Clearing-House institutions have lost in March over
16f millions of currency. Where have these bills gone?
They are not in the banks—they do not appear in the
Treasury accounts. Are they being held in the SubTreasury as gold was said to be held a short time since,
being entered in some way on both sides of the account
awaiting the completion of the syndicate operations?
It will be seen from the debt statement that there
were outstanding at the close of March of the new 4
per cents only $28,807,900, leaving $33,509,600 still to
be issued. Besides this there was a further increase
in the interest-bearing debt of $200, making the total
increase $28,808,100. Tne addition of $200 has grown
out of the payment of refunding certificates, that item
having been decreased in the month $350 ; apparently
therefore $150 of the principal and all of the back inter­
est on the $350 since February 26, 1879, has been paid
in cash, and $200 has been converted into one o f the
old 4 per cents. A correct statement of the debt on
April 1 and March 1 would be as follows:

(VOL. LX,

monthly^dates.^Tfaese are the figures we have referred
to in the above remarks, except the receipts and dis­
bursements, which, in the usual form, will be found in
the Commercial and Miscellaneous News department.
Jan. 1, ’95.
^Holdings in Sub-Treasuries—
$
N et gold coin and bullion ............ 86,244,445
N et silver coin and b u llio n ...... 7,650,305
N et U. S. T reasury n o te s............ 28,369,950
N et legal te n d e r n otes................... 34,914,153
N et n ational bank notes.. . ............ 4,759,972
N et fractional silver...................... 14,483,636

Feb. 1, ’95. Mch. 1, ’95. Apl. 1, »95$
44,705,967
14,386,985
83,571,316
62,056,673
6,333,175
15,481,586

$
87,085,511
16,207.191
36,455,457
47,767,758
5,154,293
16,131,145

$
90,643,307
19,605,524
28.872,489
52,920,267
4,449,893
16,577,511

T otal cash In Sub-Treas’s,net.l76,422,466 166,535,702 208,801,355 .213,068,981
A m ount in n ational b a n k s ....... 15,081,275 14,829,788 15,222,883 14,991,633
Cash in banks & sub-treas..l91,503,741 181,366,440 224.024,238 228,060,614
Deduct o th e r liabilities* net... 38,166,161 36,762,136 45,826,652 40,143,353
A ctual cash balance........... 153,337,580 144,603,304 178,197,586 187,917,261
* “Chiefly disbursing officers’ balances.”

CONDITION OF CANADIAN PACIFIC.

Because of the suspension of dividends by the com­
pany, the annual report of the Canadian Pacific has
been awaited with considerable interest. The report
presents the situation of the road in a clear and'
straightforward manner. Some of the facts make un­
pleasant reading, but whether favorable or unfavor­
able they are all brought out.
Indeed the report is as
complete and frank a statement of the affairs of the
property as could be wished. This is a fact of very
great importance. For if stockholders have been un­
fortunate in being suddenly and unexpectedly deprived
of their dividends, the report at least gives them a
thorough insight into the condition of the property and
explains the reasons for the poor outcome. Tiie results
may be stated in brief by saying that the year has been
a very disastrous one in that there has been a very
great shrinkage in revenues, but that ill other respects
the condition of the property seems to be satisfactory.
With the report before us the question whether the
company ought to have continued the payment of divi­
dends is no longer a debatable one. Clearly, in view of
the situation now disclosed, it would have been in the
highest degree unwise to have paid the dividend. The
income account shows a deficiency in meeting ordinary
fixed charges for the year of $526,731. If to this we
add the 4 per cent dividends paid on the preference
shares and the semi-annual dividend of 2 f per cent
paid on the common stock last August, we get a total
deficiency for the twelve months of $2,408,691. To have
increased this deficiency to $4)000,000 by the payment
of another half-yearly Jividend on the common stock,
even with the dividend fund of four million dollars
created two years ago to draw upon, would have been,
it seems to us, the height of folly. We say it would
have been the height of folly because it could have
served no other purpose but to postpone the date o f
suspension six months, while impairing the resources
to the extent of the I f million dollars required to pay
March 1 , 1893.
A p r il 1 ,1 8 9 5 .
In terest-b eirin g d eb t...................... $685,043,860 00
$713,851,960 00the dividend. As a matter of fact the management are
D eb t on which int. has cea sed ....
1 ,7 7 9 ,3 0 0 2 6
1,770,250 26 i honest enough to say that the wisdom of the payment
D eb t bea iin g no in te r e s t...........
381,787,366 92
381,025,096 92
of the dividend list August may now be questioned,,
A ggregate of d eb t.............................$1,068,610,527 18
$1,096,647,307 18 though at the time it was thought that with the
N et cash balance......................
178,197,586 12
187,917,261 11
new crops a revival of trade would ensue.
N et d e b t ...................................... $890,412,941 06
$908,730,046 07 If we inquire into the reason for the poor outcome
The net debt, according to these figures, has increased for the year, we find that the Canadian Pacific
in March only $18,317,105 01, notwithstanding the suffered from a combination of adverse circumstances
issue to the syndicate of $28,807,900 new 4 per cents. which if slightly different in kiad was fully as severe
The explanation of this is to be found chiefly in changes as that experienced by the railroads in this countryin the cash holdings, and especially in the fact that the We noted last year that the upward course of earnings*
cash paid for these bonds is still mostly in the Treasury. which had continued so long had received a check in
B flow we give our usual table of Government cash 1893. The falling off for that year was comparatively
holdings on the first of April and on the three previous small. For 1894 it has been very heavy. As against.




A p r il 6, 1895.]

THE CHRONICLE.

587

^ross of $21,409,352 in 1892 and $20,962,317 in 1893, same time it is true that the company has a very large
th e amount in 1894 was only $18,752,168, and as and valuable land grant and likewise considerable lan d
against net of $8,420,347 in 1892 and $7,741,416 in assets. But these latter can not be realized upon
1893, the net in 1894 was only $6,423,309. Here then immediately; and as to the land grant, sales to any
we have a loss in net in two years of two million dol­ large extent are out of the question so long as
lars, at a time when by reason of the new capital oat- the existing depression in the agricultural world con ­
lays ’ the fixed charges had materially increased. tinues.
Referring to the $4,000,000 in cash deposited two
President Van Horne ascribes this great falling off in
years
ago with the company's bankers as a special fund
revenues to the continued decline in the price of wheat
to
meet
deficiencies in revenues to pay dividends, the
and the decline in the prices of nearly all other agri­
report
says
that the untoward conditions of the year
cultural products. The resulting scarcity of money, he
made
it
necessary
not only to pay the interest on the
Bays, among the farmers had a marked effect upon
trade and manufactures, and caused a contraction in land bonds from earnings, but to heavily trench upon
business throughout nearly all Canada; and this bad the fund for the payment of the August dividend and
state of affairs in Canada was made worse by the extra- for the necessary assistance to the “ Soo " road and
the Duluth South Shore & Atlantic—a fact which the
•ordinary commercial depression in the United State?.
Mr. Van Horne also points out that the company sus­ figures already given have made obvious. Had this
tained a ver.y heavy los3 in one of the most important course not been adopted, says President Van Horne,
periods of the year in point of traffic, and just at the securities must have been sold at a great sacrifice or a
beginning of the summer passenger business, from the floating debt must have been incurred. Reference is
unprecedented floods in British Columbia, which dam­ made also to the fact that the company’s surplus has
aged the line in many places and interrupted through been mistaken for a cash surplus. Part of the surplus,
traffic to and from the Pacific Coast for forty-one days, the report states, went from year to year to make
from the 26th of May to the 6th of July. Although up deficits in interest on the land bonds. The remain­
the damage is not all made good even yet, the year's der, except the special fund of $4,000,000, has consti­
results suffered from this cause to the extent of about tuted the company's current working capital. It has
♦550,000, he declares, in cost of reconstruction, extra sometimes been represented almost wholly by cash in
-expenses and loss of earnings. Speaking with reference bank, at other times it has been more or less in use in
to a recurrence of such floods, he remarks that the line the various transactions of the company—sometimes in
when it was built was constructed above the reach of part used for new works or properties in advance of the
any high water that had occurred during the fifty years sale of new securities applicable to them, at other times
"the country had been known to white men, and above in part loaned on security or otherwise invested. The
any known to the Indians, and the probability of a accumulated surplus on December 31, 1893, amounted
similar combination of circumstances therefore to that to $7,261,213. After charging off back interest on the
which produced the recent floods he regards as extreme­ land bonds, and also charging off the deficiency for
1894, the surplus is reduced to $2,739,792.
ly remote.
In addition to the amounts advanced to the subsidi­
Aside from the loss in its own revenues the com­
pany was called upon to assume very heavy burdens in ary roads for deficiencies to meet interest in 1894,
-connection with its guaranty of the obligations of its other large advances had to be made to these roads,
two subsidiary lines, namely the Duluth South Shore and the drain upon the company's resources in these
Atlantic and the Minneapolis St. Paul & Sault Ste. and various other ways is well illustrated by the fact
Marie. The interest required on the consolidated bonds that while on December 31, 1893, the balance sheet
•of the first-mentioned company was $584,000; the Cana­ showed actual cash on hand in amount of $10,294,599,
dian Pacific had to provide for $456,187 of the amount, for December 31, 1894, the cash reported is only
and this sum is included in its fixed charges for the $1,691,239. On the other hand, the exceptional posi­
year. On its guaranty of the Minneapolis St. Paul & tion of strength which the company has held is shown
Sault Ste. Marie bonds the company had to advance by the fact that it has been able to meet all the trying
♦694,487, and this likewise operated as a draft upon the calls upon it without incurring any floating debt. It
year's revenues.
Again, interest on the land grant has no loans or bills payable outstanding, and there
bonds, amounting to $656,618, is for the first time in ­ are no current liabilities except those on ordinary
At the annual meeting Mr.
cluded as a charge against income.
We referred a operating account.
year ago to the fact that this interest was never counted Van Horne stated that after the payment of all
as part of the year’s fixed charges, and now a interest, rental and other mandatory charges due up to
-change in that particular has been made. The prac­ this date, and the payment of the dividend on prefer­
tice previously had been to provide for such interest out ence stock April 1, the company now has cash in bank
-of the income of the land department, or at least to treat it of $2,193,000. The management have not lost faith
as a charge upon the assets of that department. A in the value of the “ Soo" and the Duluth South Shore
few years ago the land sales were on a large scale ; lat­ & A ’lantic. They say that notwithstanding the tem­
terly, under the agricultural and commercial depres­ porary paralysis of the lumber, iron and merchandise
sion prevailing they have dwindled to small figures. traffic, which has so severely affected the two lines in
'The company has wisely concluded, therefore, to con- question, and the necessity of making large advances
aider the interest a charge upon the income of the to them at a time when the money can be so ill spared,
road, the same as all other bonded interest. If there they are still of the opinion previously expressed
is any criticism to make on the step, it is that it was concerning the wisdom of the acquisition of both of the
With a revival of business it is hoped that the
not taken sooner. Besides charging up the $656,618 lines.
for the year, the management have charged up agaiost moneys advanced will be recovered.
In a speech at the annual meeting Mr. Van Horne
accumulated surplus the $2,112,729 previously ad­
vanced for interest on the land grant bonds. This went quite at length into a discussion of the year's
action is praiseworthy and commendable.
At th eJ events. The closing paragraph of his report deserves




588

THE CHRONICLE.

to be quoted, as showing the spirit which animates the
management and because its tone is so perfectly sin­
cere and frank. “ We have been,” he says, “ perhaps
over sanguine in the past, and although the outcome
has nearly always justified the expectations of your
directors, it is only since we have been reached by the
extraordinary commercial storm of the past eighteen
months that we have fallen materially short of our an­
ticipations. The conditions which prevailed during
that period were quite beyond the lim it of human
foresight, and while we have suffered in common with
our neighbors and competitors, we may be pardoned if
we take comfort from the fact that our loss of earnings
has been small as compared with most other lines with
similar mileage. The directors and officers have undiminished confidence in the successful future of your
railway, and believe that the difficulties through which
we are passing will not only have taught us some
useful lessons but will prove the strength rather than
the weakness of the company.”

GREAT B R IT A IN AND FRANCE—STRAINED
RELATIONS.
It has been a matter of surprise to many that Great
Britain has been so patient under the repeated and
irritating course the French Government has been pur­
suing. British patience has been the more wonderful
that the annoyances of France have been so persistent
and enduring, and at the same time in the estimation of
most people interested in human progress, and capable
of judgment in the premises, in the last degree un­
justifiable. It is well known that the British lion can
roar, and roar to some purpose ; he can also fight. It
has almost seemed, however, as if the fight had gone
out of him—at all events that he was unwilling to come
to an open rupture with his Gallic neighbors. All
this is ended ] and France is given distinctly to under­
stand that persistence in a certain course of conduct
would be regarded as an unfriendly act. All the cir­
cumstances of the case encourage the belief that the
statement made by Sir Edward Grey in the House of
Commons was not a hap-hazard assertion, but a Cabinet
conclusion.
The friction between Great Britain and France
arises mainly from questions connected with African
territory. The friction between the two Powers is not
new. It dates as far back as 1882, when the British
single-handed put down the rebellion in Egypt, headed
by Arabi Pasha. In July, 1880, the financial affairs
of Egypt had become so desperate that the country
went into formal bankruptcy, England and France
agreeing to act together as receivers. Meautime Is­
mail Pasha had been compelled to retire in favor of his
son Tewfik. When in the fall of 1881 Arabi raised
the standard of revolt and made the young Khedive a
prisoner in his own palace, and when also the lives of
foreigners were imperilled, it became a necessity either
to go to the rescue of the Khedive, and so carry on the
work so promisingly begun, or abandon Egypt to a
barbarism from which there was no escape, if such
men as Arabi Pasha were to control the Government.
M. de Freycinet was then Prime Minister of France.
Mr. Gladstone held the reins of power in Eagland.
As Egypt was in spite of some forms which gave a show
of independence virtually in the hands of France and
England, it naturally devolved upon them to put forth
'heir strength and restore order. France refused.
ngland undertook and accomplished the work alone.




[VOL, LX.

Arabi subdued and made prisoner, and order re-estab­
lished, France demanded that the ante bellum status be
restored— that she be allowed to resume her work as re­
ceiver, and that England fix a date for withdrawing
her troops from Egyptian soil. One wonders to-day
that France could have the audacity to make such a.
demand. It was made, however, and was very prop­
erly set aside.
As a consequence of the work which she felt it neces­
sary to undertake, and which without any outside
assistance she successfully accomplished, Eagland re­
mains in Egypt. This is the root of the bitterness
which France entertains toward her. Since 1882 up to
the present time she has offered every hindrance to
British action in Egypt. In 1889, not to mention ob­
structions of an earlier date, when it was deemed ad­
visable on account of the prosperous condition of the
national finances and the trouble in the Soudan to
convert the preference loan from a five per cent to a
four per cent stock—a measure which would have in ­
sured a yearly economy of eight hundred thousand dol­
lars—and when the consent not only of Great Britain,
but of Germany, Austria, Italy and Russia had been
obtained, France stood in the way, making it a condi­
tion of her consent that a day be fixed for the evacua­
tion of Egypt by British troops. Lord Salisbury, who
was then in power, refused to associate the two ques­
tions, and negotiations were in consequence for the
time broken ofE. In the uprising of the Dervishes in
the Soudan, under the direction of the Mahdi, the hand
of France was not seen, but its presence was under the
circumstances naturally suspected. It is only a few
months since the same spirit was manifested by the
French in thwarting the arrangement practically con­
cluded between England and Belgium— an arrangement
which, while it would not have in any way interfered
with the rights of France or even her convenience,
would have been of considerable advantage to Eagland,
so far as she is concerned with the management of
Egypt and her territory. Now we are told that the
French have discovered a fresh means of giving annoy­
ance to their British neighbors— a means of annoyance
which, whatever the ultimate result may be, has had
the effect of putting a limit to British endurance
Bodies of French troop3, it is said, are marching
into the territory of the Upper Nile Valley, which, it
is claimed, is the property of the Royal Niger Com­
pany, and therefore under British protection. The
French, who seem to have it in their head to build up
a grand empire which shall stretch from coast to
coast—from the Atlantic to the Red Sea— take the
ground that not only the Bahr-el-Ghazal, the garden
of Upper Egypt, but all that part of the Nile Valley
from which the Khedive’s representatives retired when
the Mahdists obtained the upper hand, is open for
seizure by any European Power. If the territory
belongs to any one, it belongs to the Khedive, or fail­
ing him to his Suzerain, the Sultan. The French
contention is that they have as good a right to the
country watered by the Upper N ile as Great. Britain
has to E^ypt proper. It is not easy to see how France
could make out such a case. If the country is
the property - of the Royal Niger Company, clearly
France has no right to encroach, and Great Britain
would be neglectful of her duty if she allowed any
such encroachment. If the country is part of the
territory which once belonged to Ismail Pasha— terri­
tory added to his dominions mainly by the heroic and
self-sacrificing efforts of an Englishman, Sir Samuel

A pr il 6, 1895. J

THE CHRONICLE.

589

Baker—it is still legally the property of Egypt, if
The unique feature in the development of this under­
Egypt can assert her rights. Bat Egypt has practic- taking—the feature which distinguishes it from the
' ally become English ; and it is for Eagl and to see to it other large railroad enterprises like the Mexican Cen­
that the property which she took in charge is not tral and the Mexican National—is that it is being con­
lost It is claimed on the part of the British that structed without any aid or subsidy from the Mexican
because they discontinued the fight with the Mahdi Government, showing that the owners have great faith
and his followers, it does not follow that she abandoned in the resources of the country and feel that the property
the claims which Egypt has upon theUpper Nile Coun­ will be self-sustaining without any such aid. The road
try. It is unnecessary, however, to dwell on this part is of standard gauge, and the report tells us that the
of the subject, as it seems to be the object of France lines are all well situated, both with reference to devel­
to give annoyance to England by thwarting the great opment and physical location; that the gradients do
scheme which she is desirous to carry out in not exceed one per cent; that all the important bridges
are of iron, resting on masonry, and that all other
Africa.
It is England's purpose to make a direct territorial structures and appointments are ample and of substan­
connection between Cape Town and Cairo. This tial character.
So much as to the road itself. As to the results of
scheme was in a fair way of securing an important
measure of success when Lord Rosebery completed operations, gross earnings in Mexican currency were
the arrangement for an exchange of territory with the $2,169,121 in 1894 against $2,050,934 in 1893, and net
Government of the Congo.- In this case, as we have earnings $887,305 against $749,539. A 3 the report
seen, France was instrumental in bringing the arrange­ well says, this is a gratifying showing when it is con­
ment to nought. Now again the French seem to be sidered that the general business depression in the
bent on making continuous territorial connection from United States and the low price of silver were not
the Cape to Cairo and Alexandria impossible. If without unfavorable effect on the year's business.
they can carry out their plans and make themselves In arriving at the operating expenses, the rate of ex­
masters of the Upper Nile country, any hope of such change on purchases of material in the United States
has as a matter of convenience in accounting been
connection must be abandoned.
It is impossible to predict how the affair, as it is now taken at 200—that is, it has been assumed that it re­
presented to us, is to end. It is noteworthy that quires two Mexican dollars to make one United States
although the French are nettled because of the language dollar. Actually the rate has been somewhat better
used by Sir Edward Grey, they do not deny that there than this. The company credits back to net earnings
is truth in the report about the advancing troops. If $209,838 of exchange, making the total of the
it should turn out to be true that such an advance of net in Mexican currency $1,097,144. The road is
French troops has been made toward or into the Upper exempt from all taxes except for stamps, which for 1894
Nile region, and if such advance is not countermanded, amounted to’$13,7l2, deducting which leaves in Mexican
the situation would be serious. But it is to be remem­ currency $1,083,432. The latter represents the amount
bered that as yet it is not even determined that the re­ actually remitted to the United States and on which
port regarding the advance of the French troops east­ the company realized an average of 53*13 cents, yield­
ing in American money $575,627. Various miscellane­
ward is well founded.
ous receipts bring the aggregate net income for the
year up to $647,065, against which the charges were
M EXICAN INTERNATIONAL.
$560,000 for one year's interest on the bonded debt and
We referred week before last to the fact that Mexi­ $10,113 for general expenses, leaving a balance on the
can roads were able to show much better comparative operations for the twelve months of $76,952. This is
results for the late calendar year than our own roads, the surplus, it will be noted, with Mexican dollars
using for purposes of illustration the exhibit of the worth only an average of a little over 53 cents. The
Mexican National, whose annual report had then just price of silver has latterly risen very decidedly, and
been issued. This week we have the annual report of should the rise continue and prove permanent, it is
the Mexican International—a property built and con­ easy to see that considerable advantage must result
trolled by Mr. 0. P. Huntington—and this also dis­ from that circumstance.
closes the same feature.
Mr. Huntington refers to the steady development of
As yet the Mexican International is not as large a the road's business during the last ten years in face of
system as either the Mexican Central or the Mexican the depreciation in silver, under which the rate of ex ­
National, but important extensions are under way. At change has risen from 115 to 200. He says the reasons for
present it consists of a line between Ciudad Porfirio such favorable results are not found wholly in the natural
Diaz, where connection is made with the Southern Pa­ advantages of Mexico, for during the last three years
cific system for all points in the United States, and the country endured a period of drought (now happily
Durango, a very important industrial and mining cen­ broken) which was almost unparalleled. He very prop­
tre, besides which there are a few small branches, giv­ erly considers the wise policy pursued by President
ing altogether an aggregate of 573 miles of road. The Diaz as having been an important factor in the devel­
system has a history extending back over a decade, but opment of Mexico. There have been some increases in
the full present mileage has been in operation only taxation which all the people have felt, but have borne
during 1893 and 1894. The management feel well sat­ with resignation, because the purposes of the Govern­
isfied with the results of this mileage, and taking ad­ ment could be understood by all. But offsetting these
vantage of the low prices for materials now prevailing, burdens, he says, there has been a great stimulus to
they have begun work on an extension to the Pacific home production and foreign shipments, until every
coast in the one direction and are building a line to thing that can be produced at home is in full demand
Monterey in the other direction. The company has and what is not consumed in the country is shipper
$14,000,000 of bonds outstanding, which are largely abroad to realize a gold value for a silver paid produc­
held abroad.
tion.




590

THE CHRONICLE.

Another important circumstance should not be over­
looked. Mexico's attitude towards the railroads has
been quite in contrast with that of the United States.
Mr. Huntington points out that the policy of the Mexi­
can Government has been most liberal, large subsidies
having been granted to all important lines but the
International; and while with the increase of inter­
course between railroads and the public there has
arisen, he says, the desire for restraining regulations,
there has ever been manifest the fullest respect for the
chartered rights cf the company, whose investments
have been made without Government contribution of
any sort, and a willingness is shown to recognize the
obligations of the Government to co operate with the
railroad to protect those rights from injury so long as
the reasonable requirements of the people for appropri­
ate facilities are supplied.
What Mr. Huntington says regarding Mexican em ­
ployees is also of interest. He expresses great satisfac­
tion with the results of the employment of citizens of
Mexico in the company's service. They have charge at
several stations and occupy many positions of respon­
sibility in the general offices. At the end of 1894 over
60 per cent of all employees were Mexicans. They are
performing duties in every branch of the service, and
they receive generally better remuneration for their
services than is obtainable from other local industries.
With the additions lately made to the machinery in the
shops many foreign mechanics have been dispensed with
and their work is now being done by Mexicans in an
entirely satisfactory manner. Mexican masons are
working on bridge piers and painters and carpenters
are at work at different points on the road. At the
close of the year the number of Mexicans on the
pay-rolls of the company and the other enterprises
affiliated with it in Mexico was 2,156—which cer­
tainly speaks well for the advancement of the Mexican
people.

COTTON CONSUMPTION AND OVERLAND
MOVEMENT TO A P R IL 1.

[VOL. LX.

OVERLAND FROM SEPTEMBER 1 TO APRIL 1 .

1894-95.
A.mount shipped—
Via St. Louis.................................................
Via C a ir o ................. ..................................
Via H annibal................................ ...
Via E van sville.........................................
Via Louisville ..........................
Via C in cin n ati...........................................
Via other routes...........................................
Shipped to m ills, n ot included a b o v e ..

1893-94.

819,505
305,817
545
3,560
156,454
151,357
111,727
9,215

537,859
209,326
13,676
7,186
90,280
92,622
103,852
7,996

1892-93.
364,007
173,534
136,861
13,885
102,829
79,477
128,024
9,262

T otalgross o verlan d ......... ................ 1,558,180 1,062,797 1,007,879
Deduct shipm ents —
Overland to N ew York, Boston, & o ....
Between interior t o w n s . . . . . . . ......... .
Galveston, inland and local m ills.........
New Orleans, inland and local m ills ...
Mobile, inland and local m ills................
Savannah, inland and local m ills...........
Charleston, inland and local m ills-----N. Carol’a ports, inland and local mills.
Virginia ports, inland and local m ills..

431,885
27,502
2,825
22,342
14,860
2,196
10,204
1,104
6,671

252,521 220,507
21,417
21,027
2,806
2,491
17,024
10,802
12,497
15,802
946
1,187
10,710
8,036
1,913
1,008
35,588 > 9,918

Total to be deducted......... ................

519,589

354,843

294,357

L eaving total n et overland*............: 1,038,591 707,954 713,522
♦This total Includes shipm ents to Canada b y rail, w hich since
September 1 in 1894-95 am ounted to 79,528 bales; in 1893-94 were
41,206 bales and in 1892-93 were 39,675 bales.
R EC EIPTS, EXPORTS A N D S P IN N E R S ' T A K IN G S .

The net receipts at the ports in March have been
very much in excess of the same month of 1894 and
there is an even larger gain over 1893. The aggregate
net receipts at the outports for the seven months have
been 7,250,497 bales, whereas in 1894 they were 5,475,886 bales and in 1893 reached 4,566,567 bales. For­
eign exports have aggregated 527,789 bales, against
365,380 bales last year and 332,301 bales in 1893. For
the season to date the total exports are 1,249,020 bales
more than a year ago.
Movement frorn Receipts Receipts EXPORTS SINCE SEPT. 1, 1891 TO— Stocks
April 1,
Conti­
1895.
lotal.
nent.

since
Sept. 1, 1891, to since
Avril 1,1895. Sept. 1, Sept. 1 Great France.
1894.
1893. Britain*
9 a l v e sto n .......... 1,583,012 960,130
65,899
35,538
Velasco, & o...
New O rléans. .. 2,362,979 1,740,736
188,506
226,151
Mobile................
31,909
23,752
Savannah........... 882,289 899,401
74,270
Brunswick, &c. 144,308
’harleston.......... 412,186 328,109
63,254
140,030
P o rt Royal,&c.
W ilmington....... 230,192 186,573
499
W ashingt’n,&c
918
440,523 436,674
W est P o in t.... 268,378 225,904
51,562
87,992
Newp’tNews.&c.
68,705
New Y o rk .......... 124,319
tl,t7 9
86,529
51,315
B altim ore.......... 107,122
45,972
Philadelphia, &c. 108,735

754,991

198,467

710,465
80,051
300
63,132
74,745
122,967
119,697
55,044

413,175
24,317
2,100
11,686
4,160

312,873 1,266,331
52,013
52,013
550,654 1,674,294
20,805 101,756
600
300
402,941 490,390
97,575
£2,830
195,877 320,944
0,500 138,089
133,091 192,29

89,563
338,767
20,510
63,928
4,384
41,772
18,772

The subjoined aggregates of overland movement,
53,504
133,097
28,753 161,850
receipts, exports, etc., cover the seven months ending
80,£87 107,158
8,782
70,871
31,069
31,009
557
'
.........
March 31. The total brought into sight during the
347,529 31,455 190,060 569,044 207,907
month has been 588,749 bales, against only 287,113
22,000
192,533
1,823 194,356
23,273
84,021
5,795 104,535 194,351
bales in 1894 and 296,420 bales in 1893. There are now
52,715
10,029
13,399
39.310
visible of the current crop 9,069,088 bales, or 2,205,448 Total 1891-95.. 7,250,497
9,880,928 691,155 2,072,741 5,614,824 909,508
bales more than at the corresponding date a year ago.
5,475,886 2,527.399 547,286 1,321,119 4,395,£04 771,403
Total 1893-04..
Takings by Northern spinners have been greater than T otal 1892-93..
4,566,567 1,854,214 475,606 1,093,959 3,423,899 823,90„
in March of last year, and their aggregate takings to * Great Britain exports include to th e Channel.
April 1 are 592,069 bales more than for the correspond­
Using the facts disclosed by the foregoing statements
ing period of 1893-94.
we shall find that the portion of the crop which has
O V ER L A N D MOVEMENT TO A P B IL 1 .
reached a market through the outports and overland,
The gross shipments overland have been much and the Southern consumption, since September 1 this
greater during March than in the like period of either year and the two previous years is as follows.
1894 or 1893, reaching 163,838 bales, against but 79,1894-95. 1893-94. 1892-93.
437 and 83,369 bales respectively. The season's total
Receipts a t the ports to'Apr. 1 ....... bales. 7,250,497 5,475,886 4,566,567
is now 495,383 bales more than that of a year ago and Net shipm ents overland during sam e time 1,038,591 707,954 713,522
550,301 bales greater than in 1892-93. The month's
Total receip ts................ ...............bales. 8,289,088 6,183,840 5,280.089
net makes a favorable comparison with the preceding southern consum ption since September 1 521,000 493,000 481,000
Total to April 1 ............................ bales. 8,910,098 6,676,940 5,761,089
year, having been 77,495 bales, whereas last year it was
The
amount of cotton marketed since September 1
only 52,150 bales and in 1893 but 39,274 bales. For
in
1894
95 is thus seen to be 2,133,248 bales more than in
the seven months the aggregate net reaches 1,038,591
1893*94
and 3,048,999 bales greater than in 1892-93. To
bales, an excess over 1893-94 of 330,637 bales; and
determine
the portion which has gone into the hands of
compared with the previous year the increase is 325,069
bales. Presented in our usual form the results for the Northern spinners during the same period we have
prepared the following:
past three seasons are as follows :



T otal receipts to April 1 ,1 8 9 5 , as above.........................bales. 8,810,088
Stock on band com m encem ent of year (Sept. 1 ,1 8 9 4 )— '
A t Northern p o r t s ...................... ......... 104,810
78,927— 183,737
A t Southern ports............ ......................
A t Northern Interior m arkets.................. - ............
3,001 — 186,738
Total supply to April 1 ,1 8 9 5 ......... ............ ——................... 8,996,826
Of th is supply there h as been exported
to foreign ports since 8ept. 1 ,1 8 9 4 .5 ,6 4 4 ,8 2 1
Less foreign cotton included . . . . . . . . . .
4 1 ,0 8 4 -5 ,6 0 3 ,7 4 0
Sent to Canada direct from W est.............................
79,528
B urnt North and South......... ...............................—
32,585
Stock on hand end of m onth (April 1 ,1 8 9 5 )—
A t Northern p o r t s ............................... 262,909
A t Southern ports . . . . . . . . . . . . . . . . — • 6 46,599— 909,508
A t Northern interior m a r k e t s .........—
14,451—6,639,812
T otal takings b y spinners since September 1 ,1 8 9 4 . . . . . . . . . 2,357,014
521,000
Taken by Southern spinners.............................. ......................... —
Taken by Northern spinners «ince September 1, 1 9 9 4 .........
Taken by Northern spinners same tim e in 1 8 9 3 - 9 4 ..........

1,836,014
1,243,945

Increase in takings by Northern spinners th is y e a r ...b a le s .

592,069

The above indicates that Northern spinners had up
to April 1 taken 2,357,014 bales, an increase over
the corresponding period of 1893-94 of 592,069 bales,
and a gain over the same period of 1892-93 of 401,546
bales.
AMOUNT OF CROP NOW IN SIGHT.

In the foregoing we have the number of bales which
has already been marketed this year and the two
previous seasons. An additional fact of interest is the
total of the crop which was in sight on April 1
compared with previous years. We reach that point
by adding to the above the stock remaining at that
date at the interior towns le3S stock held by them at
the beginning of the season. In this manner we find
the result for three years on April 1 to be as follows :

Total marketed, as a b o v e ....b a le s.
Interior stocks in ex cess of Sept. 1.
Total in sig h t..................

1894-95.

1893-94

1892-93

8.810,088
259,000

6 676,840
186,800

5,761,089
249,696

9,039,088

6,863,640

6,010,785

This indicates that the movement up to April 1
of the present year is 2,205,448 bales more than in
1893-94 and 3,058,303 bales in excess of 1892 93.
As it will interest the reader to see what has come
into sight each month of the season during this and
previous years, we have prepared the following, which
shows the movement for the last four seasons.
Months.

1894-95

1893-94.

1892-93.

Septem ber............
October..................
N o v e m b e r ....___
D ecem ber............
January................
February..............
M a r c h ..................

663,703
2,114,130
2,187,667
1,961,988
973,789
579,062
538,749

511,273
1,637,555
1,704,608
1,613,603
750,991
358,497
287,113

522,552
1,465,067
1,467,066
1,290,705
556,371
4 2,604
296,4 iO

826,932
2,026,205
1,927,880
1,622,475
752,027
759,012
434,016

Total 7 months.
B alance season ..

9,069,088

6,«63,640
663,571

6,010,785
706,357

8.348,547
690,160

Total crop.........

.........

7,527,211

6,717,142

9,038,707

1891-92.

W EIG H T OF B A L E S.

To furnish a more exact measure of the receipts up to
Apr. 1 we give below our usual table of weight of bales.
We give for comparison the figures for the same time
in the two previous years.
Same
Same
Seven Months E nding A pril 1,1895. p e ri’d in p eri’d
1893-94 1892-93
N um ber o f
B ales.

Weight in
Pounds.

1,648,911
2,362,979
226,154
1,050,349
552,216
746,892
231,110
1,991,4"6

878,820,096
1,181,843,947
114,386,232
516,204,520
270,337,343
367,082,972
114,300,373
994,742,262

532 97
50015
508 03
491 46
489-55
491-48
494-57
499 50

521-46
496-04
499 00
484 17
431-89
486-50
4?5-98
495-87

T otal............ 8,810,088
* Including Florida.

4,438,217,445

503 77

495 96

T exas ................
Louisiana..........
A lab am a...........
Georgia*............
South Carolina.
Virginia.............
North Carolina.
Tennessee, & c..




591

THE CHRONICLE.

A pril 6, 1890. j

Average Average Average
Weight. Weight. Weight.

It will be noticed that the movement up to April 1
shows an 'increase in the average weight as compared
with the same period of the two preceding years, the
average this year being 503*77 lbs. per bale, against
495’96 lbs. per bale for the same time in 1893-94
and 499*02 lbs. in 1892-93.
TH E D R Y GOODS TR A D E I N M ARCH.

Early in the month the influence of a rapidly ad­
vancing market for raw cotton was noticeable in the
market for brown cotton goods.
Buyers evidently
coming to the conclusion that there was little probab­
ility of lower prices prevailing, whilst advances were by
no means unlikely, took more liberal views of their
future requirements, and an active demand gradually
developed for all the coarser grades. Stocks were
mostly cleaned up, many agents got well under orders
ahead, and prices advanced -Jc. to ^3. per yard. Fine
brown goods also have improved and at the close of
the month there are distinct indications of an advanc­
ing market in bleached cottons and wide sheetings
also. In the foregoing the business done during
March has been large.
Coarse colored cottons .have
not shared in the improvement, only a quiet demand
having been experienced all month with prices remain­
ing unaltered. Cotton dress fabrics have sold to a fair
extent in the aggregate but fancy calicoes and mediumgrade ginghams have ruled slow and irregular.
Print
cloths made a new record during the month ; touching
2 7-16c. for extras on the 7th and selling moderately
thereat until the 21st, when there wa3 a recovery of
l-16c. to 2^c., the market ruling steady until the close.
The demand for sheetings and drills for export was
considerable, and some large sales were made for ship­
ment to Asiatic markets.
1895.
W
« Oott’n P rin t­ Sheet­ L a n ­
low
in g ings, caster
S
m id­ clothSy stan d­ ging­
dlin g. 64x64 a rd . ham s.
1..
2..
3..

518
53*6

2-50
2 50

5Ü
6..
7..
8..
9..
10..
1|
12..
13..
14..
15..
16.
17..
18..
19..
20..
21..
22..
23,.
24..
25,,
26..
27..
28..
29..
30..
31..

53ie
5*4
5716
538
51a

2-50
2-50
2-44
2 44
2-44

2-44
2-44
2-44
5»x®
2-44
54
5i316 2-44
59,6

5
5
...S ...
5
5
5
5
5
5
513
518
518
518
518
5ia

5
5

43s
438

5
5
5
5
5
5

43g
438
438
4%
43s
438

5
5
5
5
5
5

4ifi
41«
41«
413
4*2

5
5
5
5
5
5

414
4ifl
4.'s
412
413
41«

5
5
5
5
5
5

41«
41«
41«
4>*
41«

...8.

2-44
5^
51316 2-44
51516 2 44
2-50
5V
2-50
ft 7o
2-50

5 is
5i8
5i8
5i8
5i8
...

f>78
5^8
578
5*8
6

2-50
2-50
2 50
2-50
2-50

8. . .

s is
518
51«
514
518
...s ...

1894
S’th’n Oott’n P rin t­ Sheet­
ing in gs,
low
3 -yd.
sheet­ m id ­ cloths, stan d­
ings. dlin g. 64x64 a r d .
7316
73,6
7316

2-75
2-75
2-75

718
7ie
7316
73ie
7316
718

2-75
2-75
2-75
2-75
2-75
2-75

^116
7118
7*16
7116
7*16
71.6

2-75
2-75
2-75
2-75
2-75
2-75

7*16
71x6
7ia
718

2-75
2-75
2-78
2-78

...

2-78
718
718
718
714
714
7Bl

614
614
6*4

2-79
2-78
•2-78
2-78
2-78
2-78

8. . .

614
6M
614
6*4
6*4
614

Lan­
caster
ging­
hams.

S’th’n
3 -yd.
sheet­
ings.

5
5
5

5
5
5

5
5
5
5
5
5

5
5
5
5
5
5

- . 8. . .

5
614
5i4
5
5*4
614
5
6*4
514
5
514
6m
5
5M
614
5
6M
..S ... .. . . . . . . . wrn
5
514
614
5
5M
6M
5
5M
6M
5
6H
514

6*4
...S . .
6M
OM
614
6M
6*4
6*4

5*4

5

514
5*4
514
5*4
5M
5M

5
5
5
5
5
5

The above prices are—For cotton, low m iddling uplands at New York;
for printing cloths, m anufacturers’ n et prices; for sheetings and
gingha n s, agents' prices, w hich are subject to an average discount of 5
par cent, e coept when o harwise sta te d ; So ith ern sheetings net.

Clearings by Telegraph.—Sales of Stocks, Bonds, &c.—
Stock Exchange Clearing-Hoise Transactions.—The sub­

joined statement, covering the clearings for the current week,
is usually given on the first page of the C h r o n ic l e , but
on account of the length of the other tables is crowded out
once a month. The figures are received by telegraph from
the leading cities. It will be observed that as compared with
the corresponding week of 1894 there is an increase in the ag­
gregate of 9*7 per cent. So far as the individual citie3 are
499 02 concerned we find that New York exhibits an excess of 10*6
per cent, and the gains at other points are, Boston 10*2 per

530 93
497-23
499-00
486 38
479-01
48317
47931
496 01

592

THE CHRONICLE

[V o u LX,

oent, Philadelphia 4*2 per oenfc, Baltimore 29'6 per cent,
Chicago 2 0 per cent, New Orleans 26’4 per cent and St.
Louis 9'4 per cent.
Week Ending April 6.

CLEARINGS.

Returns by Telegraph

1895.

1894.

N ew Y o r k ..................................
B o s to n ....... .................................
P h ila d e lp h ia ...............................
B a ltim o re ...................................
C h ic ag o .......................................
St- L ouis .....................................
N ew O rlean s.......... ......... .

$505,945,625
84,405,844
66,628,165
14,600,003
68,775,099
19,404,237
8,087,054

$457,531,580
76,585,407
,928,752
11,263,422
67,399,302
17,729,107
6,384,619

S ev en citie s, 5 d a y s .........
O th e r c itie s, 5 d a y s ..................

$767,826,032
137,332,487

$700.822,189
125,907,473

T o ta la llo ltie s , 6 d a y s ....
A ll c itie s. 1 d a y ........................

$905,158,519
157,011,263

$826,729,662
141,678,254

T o tal all olties fo r w e ek ..

$1,062.169,782

$988,407,916

C oal Sc m in in g . Low. H igh.
V a r io u s .
Low. H igh.
Q uicksilver________
2*8 2% M icb. P en . C ar, p f . . . 62% 52%
Pr f ..............
33%
15
I**» • N a tio n a l L e a d C o ...
27
Term. Coal Sc Iron...*.
13% 16%
• P r e f ............................
81% 85%
Tex. Pao. Coal...........
50
51% N a tio n a l L i n s e e d .. ..
20
19
V a r io u s.
N a tio n a l S ta rc h ..........
9
5
Am. Cotton Oil Co.
t t p r e f ..... .. .. .. .
34%
34
20% 27%
P ref...........................
2 d p r e f .......................
20
15
64% 74
Per Cent- •Am. Sugar Refln.Co.
5%
3%
91% 103% N o rth A m e ric a n C o ..
*Pref.................... .
12%
8
92% 96% O re g o n Im p ro v ’t Co.
+10-6 Amer. Tel. & C able...
P a c ific M a ll..................
21% 23%
89
91
10 2 •Amer. Tobacco Co..
95% P . L o r illa rd p r e f ........ 118 118
90
P ref........................... 105 109% P ip e L i n e ..................
107% 114
4-2
•B
ay
State
G
a
s
___!
16% P u llm a n P a la c e C a r. 155 158
13
296
Brun*wiek Co..........
65%
62
S ilv e r B u llio n c e r ts ..
%
%
2 0 Ohieago Gas Comp’y*
8%
7
70
73% T ex . P ao . I a n d T r . . .
9 4 Commercial C ab le... 146
6
U. 8 C o id a g e ..............
4%
146
7%
10
Consolidated
Gas
Co.
P
r
e
f
..............................
130% 133%
+26-4
Dis. & Cat. Peed. Co.
G u a r ............................
15% 19%
11% 16%
+ 9-6
r ertfs.. 1st in«t. pd
12%
7
13% 16% •U. 8 L e a th e r .............
59% 70%
94% 99% • P r e f .................. ...........
+ 9-1 Edison EUc. 111. Co 41%
General E le c tr ic .....
38%
25% 37% U. 8. R u b b e r C o..........
+- 9-5 Inter. Con. Sc Tnsul. •..
93% 94%
P r e f , ............................
40
41%
W e s te rn U n io n T e l..
86% 89,?
25% 27
+10-8 Laclede Gas, St. L ...
P r e f . . . .................
8
7
•W e s t’n U n io n B e e f.
81
85
+ 9 ’7
* Unlisted.

Another table, our usual monthly detailed statement of
transactions on the various New York Exchanges, has also
been crowded off of 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 corresponding
period of 1894 are also presented.
Three Months, 1895.
Description. Par Valus
or Quantity

Actual
Value.

Three Months, 1894.

Aver'ge Par Value
Price. or Quantity

11.S96.479
12.448,373
Stock
11118183050 1$640010633 60-8 1 $12v0 6 4,770
KR. bonds.. $7. ,707,170 $65,670,633 73-5
$94,306,900
G ov’t bonds 13,693,350
$4,231,627 1146
$1.321,900
S ta te bonds $2,860,300
$717,381 26*1
$3,500.100
B an k stocks
$205,619
$310,700 151-1
$160,035
T o ta l.... $1300709486 $740,940,904 61’7
$1319,949.655
7,642,500 $221.558.685 $2899
C o tto n ..b is.
10,133,200
G rain .b u sh . 316,748,796 $183,899,314 t 8 1-160 343,990,802
T o tal vaine.

1,146,398,901

Actual
Value.
1 $726101554
$68,886,429
$1,510,513
$1,632.103
$255,450

Aver'ge
Price.
69-4
74-2
114-3
43*9
159 6

$797.386,049 60-4
$897,396,446 $39*32
$211,595,127 61%0.
$1406377622

REVIEW
OF PRICES I N M A R C H STOCKS, GOVERNMENT BONDS AND
FOREIGN EXCHANGE.
The following table shows toe highest aod lowest
prices of railway and miscellaneons stocks at the N. Y.
Stock Exchange during the month of March, 1895.
RAILROAD AND MISCELLANEOUS STOCKS.

R a il r o a d s .

Atchison Top. Sc S.Fe.
A tlantic & P a cific....
Baltim ore Sc O h io ....
B. & C .S . W .p r e f....
Buff. Foon. Sc P itts..
P ref...........................
Canadian P acific.. . . .
Canada Southern.......
Cedar F alls Sc Minn.
Oentralof N. J ersey ..
Central Pacific...........
Chesapeake Sc Ohio..
Chicago Sc A lton .......
Ohio. Burl. Sc Quincy.
Chio.& East. Hi. pref.
Chic. Mil. Sc St. P aul.
P ref...........................
Ohio. Sc N orth w est...
P ref...........................
Ohio. & Rook Islan d ..
Ohio. St P.M inn. &O.
P r e f ......................
01. Cln. Chio. & St. L.
P ref.......
Col. Hook. Val. & Tol.
TJPref...........................
Delaware Sc Hudson.
P el. Lack. & Western
Den. & Rio Grande...
P ref...........................
•P u l. So. Sh. & A tl...
-P r e f.........................
E v a n s v . Sc Terre H ..
Great N oith’n, p ref..
Gr. B. W.&Ht.P.tr.reO.
Pref. tr. rcp ts.........
Hons. <&Te*. t e n t...
Illinois Central...........
Iow a Central..............
P ref............................
Kan. Sc M ic h ............
Keok. & lie s M., p f . . .
Lake Erie Sc West’n ..
P ref............................
Lake Shore................
•Long Island Trac’n.
Louisville & N ash v ..
L, N. Alb. &C.B6W stk.

Low. High.
3%
7
% - %
49
59%
4%
6
19% 1978
58
58
33
43%
50%
48
5
10
83% 98%
14
18
16
16%
146% 150
69
74%
90
94%
53% 58%
114% 119
87% 9*%
137 139
61% 65
2*% 32%
104 105
35% 3 “%
83% 86%
19
27%
6U% 69%
123 130%
155% 164%
11% 12%
33% 37%
2%
3
6
5%
32
35
100 107
%
%
1%
1%
1%
1%
83
88
6%
8%
21
24
9%
9%
13% 13%
15% 17%
70% 74%
134% 133
84
84%
5
7%
46% 52%
6
8
21
24%
106% 110%
9 % 97%
9%
8
91% 92%

Manhattan consol.. . .
•M etropolitan Trac..
M exican Central—
Michigan Central—
Minn. Sc St.L.tr.rt ots.
26% 27
A ll assessm ts paid
47
48%
Pref., a 1 ass a p d.
14% 16%
Mo. Kan. Sc T e x a s...
25%
21%
- P ref_____ _____
1*% 24%
Missouri P a c iflo ......
Mobile & Ohio.........
13% 17%
Morris Sc E s s e x _____ 159 162
N. Y. C e n t.* Hud. R . x92% 97




Low. High
R a il r o a d s .
li
W.Y. O hio.* S t Louis
12
26
29%
2d pref.....................
N. Y. & H arlem ......... 260
260
N. Y. Lack. Sc West’n 117% 118
N. Y. Lake Erie & W.
7% 10%
P ref...........................
16
26
N. Y. & N. E. tr. rec.
all instalm ’ts paid.
29% 38%
N.Y N .H .& H art....... 193
199
N. Y. Ont. Sc West___
15% 16%
N. Y. Susq. Sc W., new
12
14%
Pref. n e w ................
34% 4o%
Norf. & Southern__ x58
58
2
Norfolk & W estern...
2%
9% 13%
P r e f ..........................
Northern Pacific___
2%
4%
P r e f ..........................
13% 17
Ohio S outhern..........
14
14
O eg Ry. Sc N av___
20
20
Oreg. Sh. L. & U. N ..
5
6
Peo. P ec. Sc E vansv.
4%
2%
Peoria & Eastern . . .
2s
3%
Phila. Sc Read............
7% 14%
P. C. C. & St. L ...........
15% 17%
P ref...........................
46
49
Pittsb. Sc W est.pref..
30
32
Rio Gr nde We t, pf.
36
37
Rome Water Sc O gd.. 114% 116
St. L. A. &T. H .........
35% 39%
St. Louis S ou th ern ...
96% 96%
St. Louis S outhw est..
4%
5%
P ref..........................
9% 11%
St. Paul & D ul...........
25
26
P ref...........................
82
80
St. Paul Minn. Sc Man. 104 107
Southern Paciflo Co .
17% 18
8o. Ry. vot. tr. certs.
9% 12%
Pref. vot. tr. certs.
29% 34%
•Texas Central.........
14
14
Texas & Pacific.........
8% 10%
Third A venue............ 160 160
Tol. Ann A. Sc No. M.
1
8%
T oledo Sc O hio Cent..
47
47%
Union Paciflo.............
7% 11%
Union Pao. D. Sc G ...
4%
3%
Wabash.............. 6%
5%
P ref...........................
12% 14%
Wheel. Sc L. E r ie ___
9
12%
Pref...........................
35% 44%
4
Wis. Cent. vot. tr. cert.
2%
E xp ress,
Adams.......................... 143% 147%
American..................... 109% l i 3
United States.............
41
43
Wells, Fargo Sc C o... 104 108
C oal a n d M in in s .
Col. C. <fc I D o v e i....
4
6
Col. Fuel & Iron.......
23% 25%
Col. & Hock. C.& I...
4%
7%
P ref..........................
15
15
. Couf-oidatiou Coal..
31
31
Minnesota ir o n .........
39% 39%
Ontario Silver...........
8%
8%

The range of Government bonds sold at the Stock Exchange
in March was as follows :
RANGE OF GOVERNMENT BONDS IN MARCH.

28
exl.
rig .
Opening. *95
H igh est. ‘ 96
L ow est.. *95
Closing.. *95
• Prices bid—no

4«,
4«,
4s.
1925,
1925,
1907,
rep.
COM)».
reg.
120%
119%
111%
111%
120%
120%
119
110%
120%
111%
120%
120%
sales during th e month.

4 s,
1907,
coup.
112%
112%
112%
112%

5 S,
1904,
reg.
116
116
115%
115%

5*.
1904,
coup.
116
116
115%
115%

The following highest and lowest prices are from actual
sales at the New York Stock Exchange:
RANGE O F STATE BONDS IN MARCH.

Low.
Alabama Class “ A ” . 105
92%
Louisiana consol. 4 s.
No. Oar 6«, 1 9 1 9 .... 126
S p .taxM .N .C .R R .
1%

Low. H igh
High.
2
So. Car. nor-fund. 6s.
2
105
84%
92% 1 enn. new settle. 3s.
84
127
Va. fd. debt, 2-3s . . . .
58% 59%
3
6s dei. tr. reo. st’d.
6
7

The daily posted rates for 60 days and demand sterling
exchange in March are given below, it being understood
that bankers’ actual rates are usually a fraction below the
prices posted.
BANKERS’ 8TERLING EXCHANGE (POSTED RATES) FOR MARCH, 1895.

H ar.
1
2
3
4
5
6
7
8
9
10
11
12

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

60
day».
4 88-%
4 88-%
.......... 8.
4 88-%
4 68-%
4 88%
4 8«%
4 88%
4 88%
.
.8.
4 88%
4 88%

De­
m and.

Mar.

89%-90 1 3 ...
89% 90 1 4 ...
1 5 ...
89%-90 1 6 ..
89%-90 1 7 ...
1 8 ...
4 90
4 90
1 9 ...
2
0 ...
4 90
2 1 ...
4 90
__
2 2 ...
2 3 ...
4 90
4 10

60
day».
4 88%
4 8«%
4 88%
4 88 -9
...........8.
4 88%
4 88%
4 88%
4 88%
4 88%
4 88%

De­
m and.
4 90
4 90
4 90
4 90
4 90
4 90
4 90
4 90
4 90
4 90

M ar.

60
day».

De­
m and.

2 5 ....
2 6 ....
2 7 ___
2 8 ....
2 9 ...
3 0 ....
3 1 ___

4 88%-9 4 90-%
4 88%-9 4 90-%
4 S8%-9 4 90 %
4 88%-9 4 9b-%
4 88 %-9 4 PO-%
4 8a%-9 4 90-%
...........8.

O pen.
High..
L ow ..
L a s t..

4
4
4
4

88-%
89
88
88%-9

89%-90
4 90%
4 89%
4 90-%

[From our own correspondent. 1
L o n d o n , Saturday, March 23, 1895.
Money has continued in strong demand all through the
week, and moderate amounts have been borrowed from the
Bank of England for ten days at 2 per cent. In the open
market short loans have ranged from 1% to
per cent,
sometimes 1% being charged, and the rate of discount is
per cent. The recent shipments of gold to the U nite! States
and Chili, with the large collections of the revenue, have, for
the time being materially reduced the available supply. But
the shortness is merely temporary. Next week the Govern­
ment will pay the quarterly salaries to its officials, and in the
first week of April the interest on the motional debt will be
paid, Just now the Government balance at the Bank of Eng­
land is very large, considerably exceeding 12 millions sterling.
The coin and bullion in the Bank exceeds
millions ster­
ling, and the reserve is nearly 29^ millions sterliag, being
very nearly 70 per cent of the liabilities. The Continental ex­
changes have moved during the week in favor of this country,
and some gold is expected from France. French investors
have for months now been buying S ruth African gold shares
here in immense amounts, and French merchants have been
buying wool largely of late.
The arrival of Li Hung Chang in Japan, stimulating the
hope that the peace negotiations will be concluded quickly,
caused in the early part of the week a rapid rise in the price
of silver, which touched at one time 29d. per ounce. Since
then there has been some decline, American holders having
sold freely. The general impression is that the most part of
the war indemnity w ill be taken in silver. But the best
judges think that not more than a third will be so taken, while
there are rumors that arrangements w ill be made to postpone

A pr il 6, 1895,J

THE CHRONICLE.

large deliveries so that too much money w ill not lie idle in the
Japanese Treasury at any one time. The rise in silver has
stopped the Indian purchases of the metal and there has been
a large demand for India Council drafts. The greater part,
however, is believed to have been on Chinese account. There
is a large balance due to China here in London, while China,
on the other hand, owes large sums in India for opium and
cotton goods, and the debt in India is being settled by pur­
chases of Council bills. In consequence the 60 lakhs offered by
the Council on Wednesday were taken in full at Is l^ d . per
rupee, and since then moderate amounts have been sold by pri­
vate contract. The Indian Budget was published in Calcutta
on Wednesday and it is much more favorable than was gen­
erally expected. The financial year will not end until the
31st March, but the Budget estimates that there will be a sur­
plus of 9,900,000 rupees. For the new year it is estimated
that there will be a surplus of rather more than 1% million
rupees. The drawings by the Council for the new year are to
be 17 millions sterling, the same as in the closing year, and it
is estimated that the average price will be Is. 109d. per rupee,
the same as the average so far for the closing year.
There is at last a rising tendency in the markets for prod­
uce. Especially wool is higher, and the demand is much
larger and much more varied than for a long time pas*-, the
United States and France being considerable buyers. Wheat
is better, and generally there is a tendency towards an up­
ward movement. The chief fear now with regard to trade is
that the threatened strike in the coal trade in South Wales
may break out and that in that way business may be seriously
checked. Earnest efforts are being made to bring about an
arrangement.
Although there has been more doing in the American de­
partment of the Stick Exchange during the week than for
some time past,Mhe general public is still holding aloof, and
after an advance early in the week there has been a decline.
In the South American department there is also a quiet tone,
partly because of the insurrection in Peru, partly owing to
unfavorable rumors respecting Brazil and partly to the dis­
satisfaction with the policy of Uruguay. Not much attention
is paid to the dispute between Argentina and Chili. It is
thought here incredible that Argentina will rush into a war
for an utterly barren and useless piece of territory. At the
same time the Argentine papers received this week are rather
warlike in their tone.
The fall of the Spanish Ministry has checked business in
Paris. For some time past the late Cabinet had been showing
itself more favorable to the railway companies than previously
and strong hopes were entertained that an arrangement would
be brought about and that thereby it would be made possible
to borrow a large sum in Paris. In the hope of this a rather
wild speculation has been going on in Spanish securities, and
naturally the fall of the Sagasta Cabinet has disturbed the
speculators. Ic is thought now that the difficulties on the Vi­
enna and Pesth bourses are over; but business is quiet there as
well as in Germany. In the South African department French
buying continues ; during the week, however, there has been
a good deal of realizing here at home. The more judicious
operators think that prices have been carried too high and
that there must, therefore, before long be some set-back. If
Paris ceases buying there (.will undoubtedly be a fall. Up to
the present 'there has been very little decline ; indeed many
securities have risen very materially during the week. But
it is unquestionable that much of the buying here and in
Paris is by weak speculators, and ^it cannot be disputed that
many prices are extravagantly high. Even if it be allowed
that the properties are as rich as represented and that in the
future they will give immense returns, the existing prices
have discounted the improvement for years to come. In sev­
eral instances £1 shares are quoted at £10, £15 and even
higher, though they do not give any dividend as yet. Still,
though the speculation has been carried too far, it may go on
for a considerable time if Paris retains courage. The gold
held by the Bank of France exceeds 85^ millions sterling.
With such an immense accumulation of the metal it is quite
possible that confidence may continue and the speculation be
carried further.
Messrs. Pixley & Abell write as follows under date of
March 22 :

593

Chili, £1,000; W est Indies, £32,000. Total, £ 2 3 1 ,0 0 0 . Shipm ents
to Bombay, £ I .000.
Silver.—The forward m ovem ent to w hich w e referred la st w eek h a s
n? e d, and aided, by a good s tie of Counoil drafcs, the price rose to
»
™ j 8 point America sold rather freely, causing a relapse
of 0 « d . To-day there is renewed firmness caused by scarcity of
supply, and the m-irfeet closes steadv at 2 8 i3 i.d .
A rrivals: New
York. £ 5 9 .0 -0 ; Chili, 67,00"; West Indies. £ 16,0u0. Total, £ 1 4 2 .0 0 0 .
Shipments: to Bombav March 22, £52,400.
Mexican Dollars. These coin contihue alm ost nom inal, but there is
a strong Inquiry for them , and a few changed hands at 29d, but even
better oould be obtained.

The quotations for bullion are reports ! as follows :
QOIiD.

London Standard. Mar. 22. Mar. 15.
Bar gold, fin e .. . ,o i.
Bar gold, parting.os
Ipan. doubloons, o s.
0. 8. gold coin. .„os.
Jarm an gold eoln.os

8. d.
77 9

r. d.
77 9

77
73
7«
70

77
73
70
7«

»X
8
3«
4J4

SILVER.

Mar. 22 Mar. 15

London Standard.

<L
B ar silver, fine. ..os. 28 13-10
9 « Bar silver, c o n ta in ­
8
ing 5 grs. gold., os. 20 3-16
3 « Cake s ilv e r.......... os. 31)4
4)4 M exican dollars..os. 29

d.
98 1-10
28 7-10
30)4
28)4

The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c.,
compared with the last three years:
1895.

1S94.

1893.

Mar. 20.
ii

Mar. 21.
X

Mar. 22.
X

1892.

Mar. 23

£
C irculation...................................... 24.679,400 24,526,015 24,445,705 24.702,825
Public deposits .......................... 12.155,153 12,025,522 10,915,411 11,508,065
O ther d e p o sits...................... ....... 29,919,098 28,572,554 27,254.537 28,146,790
G overnm ent sec u rities............... 12.409,488
8.933,533 11,209,809 10,785,124
O ther securities............................ ' 18.480,432 27.198.010 26.320,127 99,891,929
Reserve of notes and coin.......... 29,483,412 22,905,703 19,078,761 17,439.485
Coin A bullion, both depactm ’ts 87,302,852 30.631,716 27,072,466 25,692,30 o
Prop, reserve to liabilities. ,p. c. e9 13-16
56 3-16
43 13-16
49«
Bank r a t e .......... ........per cent.
2
2
3
2)4
Consols, 2 « p e r c e n t .. .. ............. 104 7-10 99 11-16
98 1-16
95 11-16
Silver............... ............................... 28 ll-IOd.* 27)4d.
S794d.
40 7-16d
Clearing-House re tu rn s.............. 157,383,000 145,202,000 122,745,000 110,359,001
* M arch 21.

The following shows the imports of cereal produce into the
U ted Kingdom during the first thirty-seven weekg of the
season compared with previous seasons :
IMPOSTS.

1894-5.
1893-4.
1892-3.
1891-2.
Import« o f w h eat.ew t.37,578,896 42,094,431 42,479,288 46,451,508
B an ey...............
17,332,654 23,938,222 12,526.800 14,500,81-6
9.126,283
O ats............................... 7,663,157
9,021.436
9.442,575
P e a s . . ..................... 1,419,379 1.823,086 1,604,608 2,113.762
Beans............................ 2,606.082
3,870,066
3,138,197
2,511,253
Indian corn................. 14,863,414 24.376,358 21,101,830 19,69 2,017
11,348,140 13,730,379 15,055,802 14,373,951
Flour...................

Supplies available for consumption (exclusive of stocks on
September 1):
1894-5.
1893-4.
1892-3.
1891-2.
Wheat Im ported.cw t.37.573,696 42,094,431 42,479,288 46,451,508
Imports of flour.........11.348,140 13,730,379 15,055,802 14.373,951
eaiea of home-grown. 13,282,454 17,387,460 20,351,119 23,979,405
T otal........................ 62,209,290 73,212,270 77,886.208
1894-5.
1893-4.
1892-3.
24s. 9d.
Aver, price wheat week. 19s. 91.
26s. 4d.
25s. l i d .
average price, se ason .. 19s. 9d.
26s. 8d.

84,804,864
1 8 9 1 -\
31» 7d
34s. 9 d .

The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom :
Wheat.................. qrs.
Flour, equal to qrs.
M a iz e ...............qrs.

This week.
3,212,000
481,000
281,000

L ast week.
3,190,000
4 ±8,000
308,000

1894.
3,660,000
376.000
603.000

1893.
3,416.000
3 0 5 ,0 0 0
5C0,000

E n g lis h F in a n c ia l T Iark ets—P e r C a b le .

The daily closing quotations for securities, &c., at London
are reported by cable as follows for the week ending April 5 :
L ondon.
Silver, per o z ...................
Consols, new , 2 « p. ets.
For account..................
Fr’ch rentes (lnParis)fr.
U. 8. 4s of 1 9 0 7 ..............
Ateli. Top. & 8. Fe. com.
Canadian Pacific.............
Chic. Milw. & 8t. P a u l..
Illinois C entral...............
Lake Shore.......................
Louisville & N ash ville..
Mexioau Central 4 s .......
N. Y. Central & H udson
N. Y. Lake Erie & West.
2d consols....... .............
Norfolk & West’n, pref.
Northern Pacific, p ref..
P en n sylvan ia ..............
Phil. & Read., per share
Union Patullo..................
Wabash. p»ef....................

Sat.

Mon.

Tues.

Wed.

Thurs.

Fri.

30«
30«
30«
30
29 Tb
30«
104« 104«
104 Hie IO4H1Ä 1 0 4 « 1 0 4 «
10411,« 104H Xfe 10413.« 1 0 4 « 1 0 4 « 1 0 4 «
102-95 102-85 103 00 1 0 3 0 0 0 3 0 7 « 103-05
678
398b
593a
90
140
53«
62«
98
10«
63«

7«
413g
59«
90«
140
54
63«
98«
10«
66

6«
41«
59«
90«
140
52«
63
98«
10«
65

6«
40
59
90
140
523s
62«
98
103s
65«

6«
41 «
59«
90
140
52«
62«
98
10«
65

6«
40
58«
89«
140
52«
62«
98
10
64«

17«
52«
6«
11
14«

17«
52«
73s
12«
14«

17«
52«
6«
11«
14«

17«
52«
6
12
14«

17«
52«
6«
11«
14«

17«
52«
6«
11«
14«

Commercial and i^ttsceilaaeuus Hews

G overnment R ev enu e and E x p e n d it u r e s . —Through the
courtesy of. the Secretary of the Treasury, we are enabled to
place before our readers to-day the details of Government
receipts and disbursements for the month of March. From
Gold.—The Bank of E ngland continues to receiv e e ll arrivals, there previous returns we obtain the figures for previous months,
being no dem and of any sort for export. The purchases am ount to
£ 2 0 0 ,0 0 0 , w hile £ 1 7 0 ,0 0 0 has been w ithdraw n in sovereigns for; and in that manner complete the statement for the nine
South Amerioa. J Arrivals,: Bom bay, £78,o00; South A frica, £ 1 2 0 ,0 0 0 months of the fiscal years 1894-95 and 1893-94.




Of the above im ports. for the week in 1895 $22,858 were
American gold coin. Of the exports during the same tim e,
$47,000 were American gold coin.

(000a om itted).

receipts

1894-95,

1893-94,

iV.Bk.
Out- Inter'i Red’p. Mite'l lotal.
toms. Bev’ui Fund. S'rces
% ~
t
t
$

N.Bk.
Ous- Inter'’ Red’p. Mise’' Total.
toms. Rev'ut Fund. S’rces
«
t
1
»
«
12«
100
707
1,065
1,030
3,032
2,744
2,492
1,(85

888 1,183 35,691 14,084 14,689
J u ly .... 8,427 25,200
633 1,051 41,051 12,115 10,503
A u g .... 11,805 27,502
874 24,217 12,570 11,469
S e p t.... 15,505 0,182 1,59«
11,000 12,736
O c t . . .. 11,002 0,493 1,820 684 20,968
10,21« 12,054
N o v .... 10,261 7,774 2,481 1,870 21,892
9,3D 12.448
D e o .... 1 11,044 8,95' 1,241 2,398 24,233
9,015
J a n ....... 1 17,000 9,117 1,100 1,875 29,098 12,437
09a 23,101 10,389 11.050
213
F e b . .. . I 13,335 8,800
11,359 12,808
686
514
M arch.. 1 14,930 9,8'5
104,016 106,832
TTk' rok 109.993 10,495 10,819
DISBURSEMENTS (0008 O m itted .)

N.Sk.
Ordì- Pen- In- Red’p. Total.
nary. sions. terest. Fund.
$
t
t
$
12,902
11,335
12,590
11,053
12,032
12,330
10,054
12,830
11,618

7,014
912
322
5,194
92«
110
7,088
1,521
273

31.C20
24,057
25,290
25,018
25,019
20,834
27,030
24,759
25,9.8

1,533
1,183
544
817
1,707
2,141
2,840
828
676

12.450ll2.269 235,507

1893-94.

1894-95.

July..

Ordi- Pennary. sions.

37,590
32,373
31,003
83.439
29,634
28,248
35.93/
27,055
20,993

942
716
770
726
1,157
1,118
1,414
1,359
1,276

$
17,791
21,042
14,493
10,667
10.C03
10,022
16,157
14,93»
17,518

$
14,7511,200
10,787
10,340
12,33' «
13,773
8,990
11,5 «8
13,373

N ov.. .
Deo... .
Jan . .1
Feb...
March. .

10,732
19,410
17,411
10,460
15,519
14.095
17.381
11,795
13,820

9 inns.

21.1071 7.1501385.705
143.235 100,294 23.-00 9,473 287,302 150.291 107.151

A rk ..
Sept..

O ct..

IV ol. LX.

THE CHRONICLE.

594

—The “ Legal and Banking Year Book, l,2o0 pages, is a
guide to the law bearing upon accounts, acknowledgments,
actions, administrations, assignments, bills and notes, mort­
gages, organization of corporations, executions, injunctions,
proof of claims and subjects of kindred nature. It is pub­
lished by the Snow-Church Surety Co., 265 Broadway, New
York.
—The depositors under the plan of reorganization of stock
of the Distilling & Cattle Feeding Co. are notified that the
second, third and fourth instalments of one dollar each are
called. Certificates of deposit must be presented at the Man­
hattan Trust Co. in order that the instalments paid may be
noted thereon.
—The last page of to-day’s C h r o n i c l e is given up to the
advertisement of Messrs. Latham, Alexander & Co. th e wide
acquaintance and connections of this^ well-known tirni give
them every facility for the transaction of business in their
line.
_Mr. n . \y . Harris & Co. will send price and particulars
of the new Boston four per cent bonds on application, at their
office, No. 15 W all Street, New York. They also advertise a
new list of municipal and street railway bonds.
- T h e Canadian Banking System, 1817T1890, by R. M. Breckenridge, is the latest pamphlet in the series of the Americm
Economic Association publications. Macmillan Sc Co. Prico
$1 50.

N a t io n a l B a n k s .— The following information regarding
national banks is from the Treasury Departm ent:

City R ailroad S ecu rities—Brokers’ Quotations.

CORPORATE EXISTENCE EXTENDED.

2 ,2 3 6 -T h e Diam ond N ational Bank of Pittsburg, P en nsylvan ia, until
2>2 3 7 - T ^ M a llrine National Bank of Pittsburg, P en n sy lv a n ia ,u n til
March 2 0 ,1 9 1 5 .
I m p o r t s a n d E x p o r t s f o r t h e w e e k . — The following are

the imports at New York for the week ending for dry goods
March 28 and for the week ending for general merchandise
Maich 29 ; also totals since the beginning of the first week m
January.
FOREION IMPORTS AT N EW TO R K .

Dry G ood s----Gen’l mer’dise.

$2,453,663
11,877,704

$2,670,564
9,666,701

1895.

1894.

1893.

1892.

For Week.

$4,024,356
9,640,472

$1,525,410
6,778,997

$8,304,407 $13,664,828
Total............ $12.337,265 $14,331,367
Since Jan. 1.
$24,893,645 $45,010,136
$45,270,229
$37,282,858
Dry G oods.......
89,265,953
86,908,818
Gen’l m er’dise. 106,893,965 128,739,374
$134,276,089
$111,802,463
Total 13 weeks, $144,176,823 $174,009,603

A tlan. A ve., B ’k lv n —
Con. 5s, g., 1931.. A&O
Gen. M. 58, 1909.. A&O
Im p t. 5s, g., 1934.. J & J
B leek. S t. & F n l.F .—S tk .
I s t m ort., 7s, 1900. J & J
’w ay & 7th A ve.—Stock.
I s t m ort., 5s, 1904. J& D
2d m ort., 5s, 1914. J & J
B ’w ay lst,5 s,g u a r,1 9 2 4
2d 5 s,int. as re n t’1.1905
Conaol 5s, 1 9 4 3 ...J& D
B rooklyn C ity—N ew stk .
Consol. 5s, 1941...J & J
B k ly n .C ro sst’n 5 s .l9 0 8
B k l’n.Q ’nsC o.& Sub.lst,
B klyn.C .& N ’w t’w n—S tk
5s, 1939.......................
B rooklyn T r a c tio n ....
P r e ie rr e d ...................
C en tra l C rosstow n—S tk .
I s t M., 6s, 1 9 2 2 ...M &N
C en.Pk. N .& E .R iv.—Stk.
Consol. 7s, 1 902...J& D

108
107

EXPORTS FROM NEW YORK FO R TH E W EEK

18S5

1894.

1893.

1892.
$7,837,272
98,121,981

$6,461,490
77,486,441

$7,314.547
87,634,741

$6,329,"52
81,819,746

Total 13 weeks. $105,959,253

$83,947,931

$94,949,288

$88,149,498

For th e w eek ..
Prev. reported.

The following table shows the exports and imports of specie
at the port of New York for the week ending March 80 and
since January 1. 1895, and for the corresponding periods m
1894 and 1893:

pa

EXPORTS AND IM PORTS OP SPE C IE AT NEW TO R K .

Im ports.

Exports.
Gold,
Great B ritain.
France..............
G erm a n y ... ..
West In d ie s ...
M exico.
s o u t h A m erica......... ■
a h other countries.
Total 1 8 9 5 .
Total 1 8 5 4 .
Total 1893.
Silver.
Great B rita in .............
F ran ce.........................
G erm any......................
W est In d ies................
M exico.............* ..........
South A m erica .. . —
A ll other countries..
Total 1 8 9 5 ...........
Total 1 8 9 4 ...........
Total 18 9 3...........




Week.

Since J a n . 1.

Week.

191 195
§106’a 108%
§108 110
§109
§104 106
109 >9 110
158 159

110

370,112
256,000

$360,969 $29,934,240
8,094,490
268,640
645,215 34,201,703
Exports.

$286,351 $11,938,953
2,943,317
190,874
4,365,524
107,180
Im ports.

20,000

Week.

Since Jan . 1.

$403,150

$6,933,155

2,316
425

8,919
78,090

44,200
2,053

167,964
10,324

$452,144 $7,198,452
9,785,550
520,160
7,445,146 1
620,381

Week.
$ ............
300
18,798
8,450
$27,548
12,878
1,425

I l l 's

105
§103

103%

200

§108
9

109

170
117
160
§114

164 Ja

10

51

149
105
150
§114 K
§103
Scrip
E ig h th A v e n u e —S to c k . . . 300
Scrip, 0s, 1914 . . . . . . . . . 103
42d& O r. St. F e r.—Stock 318
63
60
42d St.& M an .A S t.N .A v.
1st m o rt. 6s, 1910.M&S §1121
2 115
58%
2 d m o rt.in c o m e 0s. J & J 57
6% 7%
L ong Is la n d T r a c tio n .. . .
88 89
M etropolitan T ra c tio n ...
N in th A v e n u e —S to c k ... 149
Second A venue—S to c k .. 140 149
1 st m o rt.,58,1909.M& w 107'a 109
D e b en tu re 5s, 190». J & J 103 101**
S ix th A venue—S to c k — 210 215
T h iid A v enue—S to c k . . . 159 161
1 s t m ort., 5s, 1937. J & J 118 119
T w en ty -T h ird S t.—S t’k . 300
Deb. 5s, 1903................. 100 s s r
U nio n R y—S to c k ............ 100 100
1 st 5s, 1 9 4 2 ..................... 104 >9 105 ht
W e s tc h e st’r, lst,g u .,5 s, 100 102

§ A nd a c c ru e d In te re s t.

Gas Securities—Brokers’ Quotations.
B rooklyn G a s-L ig h t.........
C e n tr a l.................... • --C onsum ers’ (J e rse y C ity).
B onds.................................
C itizens’ (B ro o k ly n ).........
J e rse y C ity & H o b o k e n ..
M etropolitan—B o n d s........
M u tu al (N. Y ......................
N assau (B ro o k ly n )...........
S crip ...................................
N . Y . & E a s t R iv. 1 st 5s..
P re fe rre d . . . . . —
Common..................

Bid. A sk. j G A S C O M P A N IE S .
118 125 1People’s (B rooklyn)..........
140 lfO 1Peoples’ (J e rse y C ity )—
M etropolitan (B ro o k ly n ).
75
70
W illiam sb u rg . . . . . . . . . —
96 "a
1 st 6 s............
62
F u lto n M u n icip al..............
190
B onds, 6 s __________—
108
E q u ita b le ....... . ..................
134 160
B onds, 6s, 1899 ............ .
200
S
tan d ard p re f---- . . . . . . . . .
100
82
83%i Com m on.-------- . . . . . . . . . .
44 1W e s te rn G as . .. . . . . . . . .
41
24 ) B onds, 5s--------------22

Bonds.
$2,915 A tlantic Mutual In s.
Co. scrip, of 1890 ao#

$4,000 Knickerbocker B rew -)
in g2n d 68,1897. M. & N .. f go
82.000 Knickerbocker Brew- (
in g Co. 1st 4s, 1897. M&N J
$58-33 Waterbury & Marshall Co., pref. scrip......... 5

a tta
S

Since J a n .I
$40,730
2,176
1,380
26,914
141,363
88,464
7,774
$308.801
403,971
1,632,846

B id. A s k .
85
170
165

200
106
170
105
185
106
95
44
45
82

170
108
175
188

100"
48
47
84

Auction Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction
By Messrs. Adrian H. Muller & Son:

1803.............. .......101-102%

Since Jan . 1

$127,959 $9,465,008
1,155,721
45,355
1,044,652
103,028
85,296
15,792
115,599
" i',883
39,153
22,858

$8,012,500
11,916,400
5,772,036
3,607,192
340,969

C h rist’p ’r& lO th S t.—S tk.
s t m ort., 1898 ...A & O
110 D.1D.
B a t’y
—
K. B. & Bat’
jr—Stk.
108 !»
1st, gold, 5s,, 1932. J& D
98

"27*9 28*9
111 112«9

GAS C O M P A N IE S .

in our report of the dry goods trade.
.
.
The following is a statement of the exp orts (exclusive of
specie) from the port of New Y o r k to for eign ports for t e
week ending April 2 and from January 1 to date :
[------------------ [—

Bid.

Bid.

NATIONAL BANK OROANIZED.

4 990—The Harris National Bank of Terrell, Texas. Capital, $100,000.
’
J. H. M uekleroy, President; W. P. Allen, Cashier.

S am uel

Bonds.
,000 Buffalo Ry Co. 1st con.
os, 193 1 ................. ........1 0 4 %
$3,000 State of Georgia 4%s,
1915, J. & J ...........113*3 & in t
Shares.
5 StandardGas-LightCo.pf. 99 *3
2 5 u W aterbary & M arshall
Co., p ref’d ......................
5
4 0 A tlantic Trust Co............201

ip m u c

D . D a v i s & C o ..
BANK ERS,
NO.^40 WALL ST., NEW TORK.

amuel

D. D a v is ,

Ch a s . B. V an N o stra n p ,

S pencer T ra sk & C o .,
BANKERS,

.

1 0 W A L L S T R E E T , N E W Y O R K . - 6 S S tate S t ., A lb a n y

Bonds and Stocks Bought and Sold on Commission.

IN V E S T M E N T

SE C U R IT IES.

THE CHRONICLE.

A pb il 6, 1895.]

2 £ h je

j a n k e r s ' (S a ille *
DIVIDENDS.
Per
Cent.

Nam e o f Company.
R a il r o a d s .

Berkshire (quar.)............................
B oston & Prov., guar, (quar.)—
Chartiers...........................................
E e l River, guar................................
European & North A m erican—
G eorgia ER . & Banking (quar.).
Long Island (quar.).......................
M aine Central (quar.)...................
Northern N. H. (quar.)..................
Sioux City & Pacific, p ref.............
V erm ont & M assachusetts, guar.
W estern P en nsylvan ia..................
B a n ks.

1*2
2*3
5
1*
2>4
2%
1
1^
l 1«
3ia
3
4

When
Payable.

Books closed.
(Days inclusive.)

April 1 ---------- to ------------April 1
April 1 ---------- t o ---------April 5 ---------- t o ---------April 15
April 15 Apr. 2 to Apr. 14
May
1 Apr. 16 to May 1
April 1
April 1
April 1
April 8
April 15

N. Y . Produce E xchan ge............

3

April 15 Apr.

N. Y. Security & T rust..................

5

May

N orth R iver....................................

|3

April 10 Apr. 3 to Apr.

T r u s t C o m p a n ie s .
F ir e I n s u r a n c e .
m is c e lla n e o u s .

American Tobacco, pref. (quar.).
“
*•
com. (quar.).
Brooklyn City RR. (quar.)...........
Claflin Co., H . B., com. (quar.)..
“
“
lagt pf. (quar.)
“
“
2a pf. (quar.)..
N ew England Street Ry. (quar.).
N. Y. & N. J. Telephone (quar.)..
Standard Gas Light, pref. (quar.)

8 to Apr. 15

1 Apr. 16 to Apr. 30

2 l May
3 S
21a April
l! a April
May
l* a j
April
April
lia
l i s April

1
1
15
1
15
15
10

Apr. 16
Mar. 31
Apr. 6
------- t
Apr.

9

to May 1
to Apr. 1
to Apr. 15
o -------------

6 to Apr. 10

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

The Money Market and Financial Situation.—Business
in W all Street has been somewhat less active this week than
during the last weeks of March, although conditions generally
continue favorable. Holders of securities seem to be unwill­
ing to sell, as all indications point to a further advance in
values w ith the improvement now so general in all depart­
ments of business. This movement, if gradual and not forced,
w ill be all the more permanent.
The recent much-needed rains in the West, the starting-up
of manufactories of various kinds, the advance in wages
which has been made in some cases, and the increasing demand
for goods for consumption, are among the favorable features
of the week.
Silver bullion has reacted from the late advance, which
seems to have been in some degree speculative, both here and
abroad. Some advance was due, however, as it had doubt­
less been abnormally low. The price steadily advanced from
62 on March 15 to 68% on April 1, and closed yesterday at 65%.
No agreement was reached at the meeting of anthracite coal
presidents to-day, except as to the output for April, and the
matters were again referred to a special committee.
The money market, which was firm at the opening, is easier
as the week draws to a close.
The open market rates for call loans during the week on
stock and bond collaterals have ranged from 2 to 3 per cent.
To-day rates on call were 2 to 2% per cent. Prime commercial
paper is quoted at 4 to 5% per cent.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £14,070, and the percentage
of reserve to liabilities was 65*95, against 65'79 last week; the
discount rate remains unchanged at 2 per cent. The Bank of
France shows a decrease of 19,375,000 francs in gold and
2,725,000 francs in silver.
The New York City Clearing-House banks in their statement
of March 30 showed a decrease in the reserve held of $1,934,800
and a surplus over the required reserve of $13,413,450, against
$14,146,500 the previous week.
1895.
March 30.
C a p ita l.................
Surplus___. . . . . .
Loans & disc’nts.
C irculation.........
N et deposits........
Specie...................
L egal ten ders.. . .
R eserve held.......
L egal reserve___
Surplus reserve

Differ en’sfrom
1894.
Prev. week.
March 31.
$

1893.
A p ril 1.

D eé.2,Ì28,300
In c. 529,300
D ec.4,807,000
In e . 458,500
D eo.2,393,300
Dec. 1,934,800
D ec.1,201,750

$
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

$
60.422.700
70,183,300
433,524,500
,5,624,200
439,330,100
71,622,900
48.872.700
120,495,600
109,832,525

1 3 ,413,450D ee. 733,050

83,600,150

10,663,075

$
62,622,700
71,046,800
482,524,100
12.895.600
504,240,200
65,578,900
73.894.600
139,473,500
126,060,050

Foreign Exchange.—There is no change to note in the for­
eign exchange market, which has continued firm at m axi­
mum rates through the week. The offerings of commercial
bills are limited and the volume of business is small, although
there is a little more inquiry for bills for Saturday’s mail.
To-day actual rates of exchange were as follows; Bankers,
sixty days sterling, 4 88%@4 88%; demand, 4 89%@4 89%;
cable 4 89%@4 90.
Posted rates of leading bankers are as follows :
A p r il 5.

S ixty Days.

D em and.

Prim e bankers’ sterling b ills on London. J 4 8 8 * ® ! 8 9 ^
4 90io
Prim e com m ercial............................ ............ 4 88 ® 4 8 8 *
.............
Docum entary com m ercial........................... 4 87*a®4 87%
.............
Paris bankers’ (francs).................. .....
® 5 16 78 515®8®5 151ie
Am sterdam (guilders) b a n k e r s............... 403^8®40%
403ö®407|8
Frankfort or Bremen (relchmarks) b’kers’i 957ie'®951i
95% «951316




595

The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buying
par, selling %@$150 premium; Charleston, buying par,
selling % premium; New Orleans, bank, $150 premium,
commercial $1 00 discount; Chicago, 75c. per $1,000 premium;
St. Louis 60@ 75c. per $1,000 premium.
United States Bonds.—Government bonds have been in
good demand; sales at the Board include $33,000 4s, registered,
1907, at 111% to 111%: $13,000 4s, coupon, 1925, at 120%;
$13,000 4s, registered 1925, at 120%; $31,000 4s, coupon, 1907,
at 112 to 112%, and $27,000 5s, coupon, at 115% to 116. The
closing prices were as follows :

2s, .......................reg.
4s, 1 9 0 7 .. ......r e g .
4s, 1907
.ooup.
4s, 1925............. reg.
4s, 1 9 2 5 .......... coup.
5s, 1 9 0 4 ....... ...r e g .
5s, 1 9 0 4 ...........coup.
6s, our’cy,’9 5 ...r e g .
6s, our’oy,’9 6 ...r e g .
6s, cur’cy,’97. .reg.
6s, cur’oy,’9 8 ...r e g .
6s, our’oy.’9 9 ...r e g .
4s, (Cher.)1896.reg.
4s, (Cher.)1897.reg.
4s, (Cher.) 1 8 9 8 .reg.
4s, (Cher.)1899.reg.

Interest Marcii A p r il A p ril A pril A p ril A p rii
Periods 30. 1 1.
2
3.
4.
5
i-M o h . * 95 1* 95 * 95 * 95 * 95 * 95
4 - J a n . * H l i 4 * l l l i 4 l l l i a *11114 11 ! 1* 1115s
4.- J a n . *112s8 * x llia 1121s *112
1121« *112
Q .-Feb. *120ia *120ia *120ia 120% *1201* 120%
Q.- Feb. *120'«;*120ia 120ia *120ia *1201* *120 ■*
Q .-Feb. *115% *115% *115% *115* * 1 1 5 * * 1 1 5 *
Q .-Feb. * 1 1 5 * *115* *115% *115% 115 78 1 1 5 *
J. & J. *100 |*100 *100 *100 *100 *100
I. A J. *102 ia *102 >a *102ia *102>* *1021* *102%
J. A J. *105 *«1*105 !a *105ia *1051* *105i« * 1 0 5 *
J. <fe J. *103ia * I08ia *108i* *108ia *108 * 1 0 8 *
J. A J. *11L | * l l l *111 *111 "111 m i *
March. *100 ,*100 *100 *100 *100 *100
March. *100 1*100 *100 *100 *100 *100
March. *100 *100 *100 *100 *100 "100
March. *100 ¡"100 *100 *100 *100 *100

* This is the price bid at the morning board, no sale was made.

United States Sub-Treasury.—The following table shows
receipts and payments at the Sub-Treasurv.
Date.
Mch.30
Apr. 1
2
“
3
»* 4
“
5

Receipts.
$
1,718,515
2,091,808
2,298,625
2,855,952
2,829,836
3,387,796

Total 15,182,532

P aym en ts.

Coin.

$
$
2,639,485 86.125,’ 61
2,054,303 86,137,157
5,223,813 86,000.031
2,224,076 85,935,685
3,257,787 85,804,007
3,767,832 85,784,109
19,172,296

B alances.
Coin Cert’s. | Currency.
9
!
$
891,915 68.632,602
1,093,004 68,455,027
615,437i 66 144,479
659,225 66,746,988
703,107 66,456,816
854,568 65,945,217
1

State and R ailroad Bonds.—Sales of State bonds at
the Board include $146,000 Virginia fund, debt 2-3s of 1991 at
59% to 59%, $5,000 Tenn. settlement 3s at 84% and
$45,000 Virginia 6s tr. receipts, stmpd., at 6% to 6%.
Railroad bonds have been less active than last week and
changes in quotations are generally unimportant. Of
the relatively active issues the Atchisons are fractions
lower, although the reorganization is making progress.
Brooklyn elevated lets continue to improve and are about 2
points higher. Chic. & N. Pac. 1st. tr. rects. are nearly 3
points higher on a favorable decision as to their validity, and
Tol. A. A. & N. M. and Tol. A. A. & G. T. issues have ad­
vanced for a similar reason. Oregon Imp. 5s have declined
under liberal selling. Mo. Kan. & Texas bonds are higher,
as the earnings show a very handsome increase. Kan. Pac.
cons, are about 2 points higher on limited sales, as the
committee having them in charge is regarded w ith much
favor. Reading issues are fractions lower than the advanced
quotations of last week. Southern Railway 5s have been
active and steady. Gen. Electric 5s are from 1 to 2 points
lower in sympathy w ith the stock.
R ailroad and M iscellaneous Stocks.—The railroad stock
market has continued through the week unusually steady at
about last week’s closing prices.
The grangers especially are firmly held. Traffic in the
Northwest is still unsatisfactory, but heavy rains are reported
there and conditions are now favorable for the next crop.
The coal stocks have been more unsteady, awaiting the set­
tlement of the anthracite difficulties. Central of N. J. sold
above 98 on Monday, below 95 on Wednesday and closes at
94%, while Lackawanna was up to 163 on Monday and
closes at 159%. Reading again touched 14% on Monday,
but dropped to 12% on Wednesday, closing _at 13. The
recent movement of N. Y. & N. E. is unexplained. _It has
been the most active stock on the railroad list during the
week and sold above 39 on Monday. Metropolitan Traction,
which sold at 103 in January and at 93 last month, was down
to 83 on Tuesday, w ith no reasons given for the changes.
Manhattan Elevated, which closed last week at 109%, sold
up to 113% on Wednesday, said to be the result of an attempt
to cover by a short interest.
The speculative element has been most interested in the in­
dustrial list. Am. Sugar sold at 104% on Monday, at 100% on
Thursday and closes at 101%, news of the closing of the
refineries aiding the movement. The report of this company
filed w ith the State authorities at Boston is brief and con­
sidered very unsatisfactory. Distilling has been active and
firm at near the highest point of the recent advance, not­
withstanding the call for the balance of the assessment to
be paid in during this month. Various rumors in regard to
General Electric have had the effect to depreciate the stock,
which sold at 32% on Thursday and closes at 34, against
35% last week. U. S. Leather pfd. sold at 71% on Tuesday,
but has lost a part of the advance. The company is reported
to have made a large amount of money by the recent ad­
vance in both raw hides and leather. Edison Electric Illum­
inating has recovered somewhat, closing at 98.

THE CHRONICLE,

596

[V ol , LX..

NEW YORK STOCK EXCHANGE—A C T IV E STOCKS fo r w e e k e n d in g A P R IL 5 , and since JAN . 1 , 1 8 9 5 .
Sales of
the
Week,
Shares.

HIGHEST AND LOWEST PRICES.
Saturday,
March 30.

Monday,
A pril 1.

Tuesday,
April 2.

W ednesday,
April 3.

Thursday,
April 4.

STOCKS.

Friday,
A pril 5.

A c tiv e R R , S to c k s .

115%
*38
*5
*10%
*25
*85
*106
17%
11%
S378
9%
*2%
*45
*78
11
4%
6%
14%
12%
43%
*3%

21
*19
6% ‘5
4%
4%
13% 13%
19
*17
48
*46
•1541o
30
*29%

115%
40
5%
10%
28
to o
109
17%
12
34%
9%
8%
55
85
11%
48)
6%
14%
12%
43%
4

*17
18
18
*19
21
22
6% 6% *6
6% *4% 6%
4% *4%
4% 4% \4%
4%
14% 13% 13% 12% 13% 12%
*16%
*16% 18
*17
18
18
47% 47%
*46
47% *46
48
*157
___
*154% ......... *157
*28
29
29
*29
30
30

114% *114 115
40
40% *38
5% *4% 5%
10%
10%
10
*25
28
*$5
90
*106 109 *106 109
17% 17% 17% 17%
1 1 78 12% 11% 12
34
34% 33% 33%
9% 9%
9% 9%
3
3
3
3%
*45
55
,*45
55
*78
85
*78
85
11
11% 11% 12
4% 5
4% 4 7e
6% 6% *6% 6%
14% 14% 14% 14%
12
12% 12% 12%
43% 43% *43% 43%
*4
4%
4
4
*114
*38
*5
10

26% 27%
26% 27
73
73
*71% 73
101% 103% 103 104%
94% 94% 94% 95
93
94% 93% 95%
*108 109% 109% 109%
71% 72% 71% 72%
132 132
*131 132
14% 15% 14% 15%
35% 36% 35% 36%
33
3 2 7s 33%
33
85% b5% 85% 86
4% 4%
4% 4 7g
*10% 12
*10% 12
23% 1 22% 23%
23
na
»1R7 160
159 159
68%
67% 68
67
15% 16
15% 16
5%
9%
11
68
4 0 78
88%

5%
9%
12%
70%
4 0 7s
88 7s

5%
9%
11%
7<>
40%
86%

5%
9%
12%
70%
4 0 78
83%

26% 26%
73
73%
102 103%
94% 94%
94% 95%
108% 109
71% 71%
132 132
14% 15%
35% 35%
33
33%
85
85%
4% 4%
10
10
*22
23
114 .........
157 157%
67
67
15% 17%
5%
9%
12
70%
40
88%

5%
9%
12%
71%
40 %|
88%|

114%
*38
5%
10%
*25
*85
*106
17%
11%
33%
9%
2
*45
*78
11%
5
-6%
14%
12
43%
*4

Do

115% 115%
*114 L15
'37
40
*38
40
4% 4% *4=8 5
*10% 10% 10% 10%
107
108 108
17% 17=8 17%
11% 11% 11%
33
33% 33%
9%
9% 9%
'1%
1%* 1%
*46
*45
45
*78
*78
85
11% 11% 11%
5
*4% 5%
6%
6% 6%
14% 14% 14%
12% 12% 12%
43% 43% 43%
*4
4% *4

Do
ani <i
Do

5%
10
12%
71%
40
88%

5%
9%
11%
69%
39%
*7%

5%
10%
12%
70
39%
88%

I Lo west is ex dir«

5%
10
11%
69
39%
*7%

12
15
25
29
5
4
8
11
29
29
30
14
14
14
14
11
6
29
28
25
1

117% Jan.
39% Mar.
5% Mar.
11 % Mar.
26 Mar.
90% Jan.
110 Jan.
19% Jau.
12% Mar.
37 Jan.
10% Mar.
3% Mar.
41 Jan.
81 Mar.
12 Apr.
5 Apr.
6% Mar.
14% Mar.
12% Mar.
44% Mar.
4 . Mar.

3,505 18% Feb.
360 62 Feb.
pref
ig Co. 278 701 86% Jan.
2.485 90% Jan.
pref.
18,112 848s Feb.
898 103% Feb.
pref.
28,380 70 Mar.
1,220 126 Jan.
97,241 13% Mar.
68,955 25 78 Mar.
1.915 26% Feb.
1,665 78% Jan.
pref.
2% Jan.
3,328
8 Mar.
135
2,630 20 Jan.
95% Jan.
‘*216 154 Jan.
140,000 60 Jan.
16,681 13% Jan.

13
18
3
8
21
27
5
29
20
4
16
28
30
8
26
4
2
10
29

27% Mar. 25
74 Mar. 25
101% Apr. 1
96% Mar. 12
99% Jan. 2
110 Jan. 18
78% Jan. 11
134 Feb. 27
16% Mar. 29
37 7s Mar. 25
38 Jan. 18
86 Apr. 1
5% Mar. 22
12% Mar. 22
23% Mar. 25
114% Mar. 29
158 Mar. 20
68% Apr. A
18% Apr. 4

pref.

M is c e lla n e o u s s t o c k « .

158 159 ’156 160 P
’156 159
66% 66% 65% 65% *65% 66 8
16% 17% 17% 18% 17% 1 7 78 I
5%
9%
12%
71
39%
88%

179 113 Feb.
35% Feb.
4% Jan,
1,212 8% Jan.
18 Feb.
5 90 Feb.
210 104 Mar.
2,090 17% Feb.
8% Jan.
12,399
6,929 29% Jau.
8% Jan.
2,320
% Feb.
960
41 Jan.
73 Jan.
7% Mar.
5,114
3% Feb.
2,685
538 Mar.
550
4.485 123s Jan.
8% Feb.
2,170
600 35 Feb.
100 2% Mar.

pref.
107 S
17% s
11%
33% Do., pref. voting trust, cert.
9%
2
52
pref.
Do
85
11%
5
6%
pref.
Do
14%
eling
12%
pref.
Do
43%
jV O tin g tr. o t f s .
4%

6%
11
11%
70%
39U
*•7%

l
l
1

Do
rieai
Do
Do

Do

Do
edS1
Do
Do

H ighest.

37,960
400
1,090
3,eOO
3 ,7 p0
34,824
800
4,850

*320

26% 26% 26% i
26% 26% 26
73% 73% 72% 72%
*71% 73
100% 101% !
100%
102%
101% 102%
94
94% 93% 93% 93% 94
94% 95% 95% 95% 9 5 78 96% À
108% 109% 108 109% 109 109
71% 72% 71% 72% 71% 72 C
132% 132 8) 132% 132% 132% 132% C
14% 15% 15% 16% 15% 16% 1
33% 35% 32% 33% 33 % 3 4 78 C
32% 32% *32
33% i
32% 33
85% 85% 86% 86% 85% 86
4% 4%
4% 4% »
4% 4%
*7
10
10
*7
9
9 C
22% 22% 22% 22% 22% 22% P

* These are bid and asked; no saie made.




114%
40
5%
10%
28
90
L09
17%
11%
33%
9%
2
55
85
11%
5
6%
14%
12%
43%
4%

17
17
21
*5
7%
8
4% *4% 4%
12%
13%
13%
17% *16% 18
49
47% *47
*157 ......
29% 29%
30

Lowest.

7% Apr. 1
3% Jan. 30
1% Apr. 4
% Feb 27
49 Mar. 8 65% Jan. 18
33 Mar. 8 59 Jan. 2
48 Jan. 30 50% Apr. 1
81% Feb. 18 9s% Mar. 25
1278 Feb. 6 18 Mar. 18
16 Jan. 29 18% Mar. 26
147 Jan. 9 147 Jan. 9
15,682 69 Mar. 4 74% Mar. 25
50 Jan. 12 50 Jan. 12
105 90 Jan. 31 95% Apr. 1
40,325 5 3 7s Mar. 9 58% Apr. 1
953 114% Mar. 29 119 Jan. 17
17,315 8738 Mar. 4 978g Feb. 4
538 137 Feb. 14 145 Jan. 25
8,368 601« Jan. 3 65 Mar. 25
1,000 28% Mar. 8 34 Jan. 18
40 104 Mar. 30 112 Jan. 30
1,365 3518 Feb. 13 393g Jan. 19
82 Jan. 10 88 Jan. 22
8,855 16 Jan. 29 27% Apr. 1
200 55 Jan. 9 69% Mar. 27
3,033 123 Mar. 9 133% Jan. 18
3,260 155% Mar. 8 166% Jan. 18
1,510 lO is Jan. 29 12% Apr. 1
3,251 32% Jau. 29 38% Apr. 1
30 Feb. 20 35 Jau. 23
100 100 Jan. 28 107 Mar. 25
8 1 is Jan. 4 90 Jau. 18
8% Mar. 23
'*260
5% Jan. 28
60 19 Jan. 31 24 Mar. 25
2,510 15% Feb. 11 18 Apr. 1
1.361 69 Jan. 28 75 Apr. 1
739 134% Jan. 2 140 Jan. 17
300 84 Feb. 8 88% Jau. 5
9,633
5 Mar. 25 13 Jan. 18
23,030 4 6 78 Mar. 12 55% Jan. 15
8 Mar. 23
650
6 Mar. 6
106 20 Jau. 4 24% Jan. 28
8,309 104 Jan. 2 113 %Apr. 3
500 91% Mar. 4 97 Jan. 18
100 25% Feb. 18 28 Jan. 19
506 46% Jan. 19 48% Mar. 29
3,120 12% Jau. 30 16 Apr. 2
18,411 21% Jan. 29 27 Apr. 3
4.361 18 »a Mar. 11 26% Jau. 2
100 13% Mar. 20 17% Mar. 27
64 Jan. 29 70 Jan. 18
4,245 92=8 Mar. 15 100% Feb. 1
137 11% Feb. 20 14 Mar. 25
69 Jan. 21 70 Jan. 18
522 24 Feb. 21 29% Mur. 21
3,818
7% Mar. 9 10% Jan. 18
250 16 Feb. 26 23 Jan. 22
46,968 29 Jan. 29 39% Apr. 1
140 193 Mar. 20 201 Apr. 2
5,660 153s Jan. 3 17 J an. 18
2,416 11% Mar. 22 14% Jan. 21
5,890 34 Feb. 26 43% Jan. 18
1,868 2 Mar. 5 5% Jan. 5
600
9*8 Mar. 4 193s Jan. 18
4% Apr. 1
3,630
2% Jau. 28
3,550 13 Feb. 27 18% Jan. 18
14 Mar. 12 14 Mar. 12
225 17 Apr. 5 21 Jan. 17
6% Apr. 3
300
3% Jan. 29
.in e A Utah North
4% Mar. 21
1,710
3 Feb. 4
54,865
7% Mar. 4 14% Mar. 27
15 Jan. 12 17% Mar. 21
100 43% Jan. 30 49 Mar. 21
pref.
157% Feb. 8 160 Jan. 24
434 29 Feb. 1 33% Jan. 3

6% 6% Atchison Topeka & Santa Fe.
6% 6%
6% 6%i
6% 7
6% 7
6% 7%
1% A tlantic <&P aeiüo.....................
1
1
1% 1%
7i
*% 1
%
3,
*%
58%
58*3 Baltimore A O hio.....................
59%
59%
59% 58
59% 58% 58% *58% 59%
59
39% Canadian P a c ific ......... .
39% 39% 40% 4 0 7( 40% 40% 39% 39% *39% 40% 39
49% 4 9 7t 4 9 7a 50% 49% 49% 49% 49% 49% 49% 49% 50% Canada S ou th ern .................. .
94% 95% »4% 95% Central of New Jersey . . . . . . . .
96
98% 96% 98% 95% 97% 94% 96
*17
17% *16% 17% *16% 17% *16% 17% Central Paclflo...........................
17
17% *17% 18
-,1 7 % 177i
17% 17% 17% 17% 17% 17% 17% 17% 17% 1,% Chesapeake A O hio..................
*146 149 *146 149 *146 149 *147 150 *147 150 *147 150 Chicago A A lto n .......................
73% Chicago Burlington A Quincy
73% 73% 73% 73% 73
74
741* 73% 74% 73% 74
Chicago A E astern Illin o is...
...... ...... —
Do
pref.
94% 94% 95% 95% .............
57% 58% Chicago Milwaukee A St. Paul
58% 5 7 7a 58% 57% 58% 57% 57% 57% 58
58
116
115%
116%
116
Do
pref
116
115% 115% 116 116
115% 1157a
91% 91% 91% yz% Chicago A N orth w estern . . . .
92% 92
92% 91% 92
92
92% 92
139 139 *138%
Do
pref139 139
138% 139 *138 140
‘ 138 189
63% 64 Chicago Rook Island A Pacific
64% 64% 64
64% 64% 64% 63% 64% 63% 64
32% 32% 32% 32% 32% 32% Chicago St. P aul Minn. A Om,
82% 32% 32
32% * 3 1% 33
105 105 *106 110 *107 110
Do
pref.
104 104 *105 110 *105 110
37% 37% 37% 37% *37% 38 Cleve. Cincin. Ohio. A St. L...
38% 38% 38% 38% 37% 38
Do
pref.
27 “27% 27% 27% 27% 2 7 7s 26% 26% 26% 26% 25% 26% Columbus Hooking Val. A Tol
*66% 68
*66
70
70
Do
pref
66% 66% *65
69
*67
*66
67
1*57% 128 Delaware A H u d s o n ..........
127% 127% 127% 128
128 128% 127% 128% 128 121
151%159% Delaware LaokawannaAW est
159% 160
162 162 *159% 162
161% 163
160% 163
-11% 12% Denver A Rio Grande . . . . . . .
13
12
12% 12% 12% *12
12% 11% 11% *12
37% 37%
37% 38
Do
pref
37% 37% 38% 38% 37% 37% 37% 38
*40
50 E vansville A Terre H a u te ...
*40
50
*39
*39
45
-37
45
*37
45
*107
110
*107
110
Great
Northern,
p
ref..
.
.
. __
*107
110
*104% 106
*107
110
106 106
*87% 89% Illinois Central.........
*87% 89% *87% 89
*87% 89
*87% 90
*88
89
8
Iowa
C
e
n
tra
l..........................
7%
7*4
7%
7%
8
8
7% 7% *7% 8%
*22% 23 _
22% 22% *22% 23
Do
pref.
*22% 24
*22% 24
*23
24
17% 17% 17% 18
17% 17% 17% 17% 17% 17% 17% 17% Lake Erie A W estern . . . . . .
74% 75
Do
pref.
74% 74% 74% 75
74% 75
74% 75
73
75
137% 137% *137% 137% 138 138 Lake Shore A Mioh. Southern
_ 137% 137% 137% 1 3 77a *136% 138
85 Long Island...........................
84% 84% 84% 84% *84
*84
85
*bt
85
*81
85
7
7% Long Island Traction . . . . .
6% 7
6% 6%
5% 7%
6% 7% *6% 7
51% 51% 51% Louisville A N ashville........
52% 52% 5 1 7a 53
51% 52% 51% 51% 51
*7
7%
Louisv. N ew Alb. A Chicago.
7% 7%
7% 7% *6% 7% *6% 7%
7% 7%
*22
23
*22
24
*23
24
Do
pref.
23% 23% *23
*23
24
24
110% 113% l l l 78 ll3 % llZ-S) lisa '8 Manhattan E levated, cousol..
109% 110% 110% 111
111 111
yz
y3% Michigan Central......................
*92
94
*26% 28% *26% 27% Minn.ASt.L.,tr. reots., 2d p’d
28
*27
*26% 27% 27
27
*27
28
*46% 48
47
47
Do pref. .tr. reots., 2d p ’d
4»
*48
*48
48% 48% 43% *48
49
-15% lb Missouri K ansas A T e x a s ....
15% 15% 15% 15% 15% 16
15% 15% *15% 16
26% 26% 26% 26%
Do
pref.
27
25% 2 5 7h 25% 26% 25% 26% 26
23% 24% 23% 24% 23% 24
24% 23% 24% 23% 24
24
*15%
18
16
*16
18% *16
18% 16
18% *16
Nash V. Chattanooga ASt. Lo u is
95% 95% 95% 96
95% 96
95% 95% 95% 96
95% 96
12% 12 %
14
14% 14% 13% 13% *13% 14
13% 13% *13
*55
65 J
Do
73
1 st pref.
*55
70 * ........ 78
*55
73 *......... 73
*25
28
Do
27
2d pref.
25% 25% *25
*25
29
26
*25
28% 26
10
*9=8
10
ike Erie A West’n
10% 10
10
10% 10% 10% 10
10% 10
Do
21% 21% 19% 19%
pref.
*20
20
20
21
*20 ......... *20
37% 38% 36% 39% 36% 38% 36% 38% 36% 37% 37=8 38% N.Y.A N.E. tr. reos, all ins. pd
201 201 *201 ...... *201%
*198 200 *199 201
201 201
16% 16% 16% 1 6 78 16% 16% 16% 16% 16% 16% 16% 16%
13
13
12% 12% 12% 12% 12% 12% New YorkSusq. A W est.,new .
13
13% 13% 13
35
35%
Do
pref.
36
36% 34% 36
37
37% 36% 37% *36% 37
3
3%
3
3
3% 3%
*2% 3
3
3%
3% 3%
Do
pref.
13% 13% 14% 14% *13% 14% 13% 13% 13% 13%
4%
hern
4% 4% *4
4% 4%
4% 4%
4% 4%
4% 4%
*16% 17%
Do
pref.
16% 17
17% 16% 17
17% 17% 17% 17% 17
*19
*5
4%
13%
*17
*47 *
*154%
*29

R ange for year 1895.

c T ':
c T î:
pref.

* > s te rn U nio n T e le g ra p h

3 195
4,440
16,569

10.000

3,501
12.162

2 7a Feb.
5 Feb.
7 Feb.
58 Feb.
38% Mar.
86 Jan.

21
20
20
20
29
15
8
2
25
8
22
19
14
21
2
2
25
30
21
22
29

11
8% Jan. 4
11 13% Jan. 4
27 12=8 Apr. 1
27 71% Apr. 2
2
5 45 Jan
29 89% Mar. 25

597

THE CHKONICLE.

A pril 6. lö»5.j

«; <Y ..» Iti 41',) U

P « -US

i'mtiatted)—IN A C TIV E STOCKS.

Range (sales) in 1895.
Highest.
A sk . Lowest.

A p ril 5 .

in a c t iv e St o c k s
ff I n d ic a te s u n lis te d .

B id .

R a i lr o a d S to c k s .
m a n y & S u s q u e h a n n a ........ ..

.• • •
....
100 168
1 aft
1 0 3 F e b . 103 F e b .
io i
....
....
15
13
100
22 J a n .
22 J a n .
19
100
58
J
a
n
.
5
8
Jan.
60
100
P r e f e r r e d ..................................
....
....
100
156
J
a
n
.
1
5
7ia
Jan .
50 155 15S
C le v e la n d & P i t t s b u r g .............
5 1* F eb .
5
7
5 ia Feb.
3
0
J
a
n
.
30 Jan .
35
100 3 0
2 ta M ar.
3 ia J a n .
3
100
214
8 A p r.
514 M ar.
100 Î 8
....
.
.
.
.
14
7»«
100
....
....
100
lo o
14 F eb .
I 7« F eb .
100 X
l i s Feb.
35g J a n .
1
100
Ita
l i a M ar.
...... ....
H m s to n & T e x a s C e n t r a .! ----88 J a n .
88 J a n .
9
10
8 ia F eb .
9 1* J a n .
100
3
3 Jan.
1 7a
1 3 ia M ar.
1 5 ia J a n .
13
P r e f e r r e d ...................................... 100
L o u isv . 8t. L o u is & T e x a s ........
ftfa u o n iu g G o a l........ ..

N ew J e r s e y & N . Y . ................ ..

4
115
50
100
100
50
100
100
100
100
100
100
1 00

106

83 >a A p r.5 1 0 3 J a n .
8 M a r.
o i8 M ir .
156 Feb. 164 Ja n .
....
....
4 ta

8
U 62»a
2 ta

9

11614 J a n .

|1 1 7

lO O
T o l e d o St,. L. & K a n sa s G lty lf . 100

2
180
30

3
180

5
185

Í

3

118

Feb.

Jan .
3% M ar.
J a n . 180 J a n .
M ar. 3 7 fM ar.

....

* Wo p r ic e F r i d a y ; l a t e s t prio® th i s w e e k .

fXlndicates actual sales. J
R ange (sales) t n 1 8 9 5 .

A p rii 5.

I n a c t iv e s t o c k s .
If I n d ic a te s u n lis te d .

B id . 1A sk .

Lowest.

H ighest

M is c e lla n e o u s S to c k s .
100 143
38
A m e ric a n E x p r e s s ....................... 100 1 1 2
90
A m e r. T e le g ra p h & C a b le . — 100
13
B ay S ta te f ía s I f ........................... 5 0
B ru n s w ic k C o m p a n y .................. 100 . . . . . .
C h ic . J u n o . R y . & S to c k Y a r d s . 100
100
51«
C o lo ra d o C oal & I r o n D e v e l.. 100
25
C o lo ra d o F u e l & I r o n ................ 100
65
P r e f e r r e d ..................................... 100
6
C o lu m b u s & H o c k in g C o a l— 100
100 137
C o m m e rc ia l C a b le .............. ..
291«
C o n so l. C o al o f M a r y l a n d . . . . . 100
E d is o n E l e c tr ic Illu m in a tin g .. .100 t 9 8
E r ie T e le g ra p h & T e le p h o n e .. 100 Î 53%
100
100 [ 26
100 { 8 2 H
100
.100
100
100
N a tio n a l L in s e e d O il C o ............ 100
N a tio n a l S ta r c h M fg. C o ........... 100
N e w C e n tr a l C o a l.......... ............... 100
O n ta rio S ilv e r M in in g ................ 100
50
P e n n s y lv a n i a C o a l___ _. . . . . . .
P o s ta l T e le g ra p h —C a b le ff___ .100
Q u ic k s ilv e r M in in g ...................... 100
" P r e f e r r e d ............ T.................... .. 100
T e x a s P a c ific L a n d T r u s t ........ 100
U. S. C o rd a g e , g u a r a n t e e d ___ 100
10(1
U. S. R u b b e r p r e f e r r e d ............. 100
.10
0
W ells, F a r v o E x p r e s s ................

50

M a ry la n d C o al, p r e f ..................

148 1 4 0 J a n . 148 A p r.
41
114
1 0 9 F e b . 1 1 4 A p r.
911« 8 9 M a r. 931* J a n .
15
13 M ar. 2 4 J a n .
.....
...
....
89 Feb.
95 J a n .
61*
26

7 Jan.
4 M ar.
231* M ar. 2 5 ia M a r.
5 0 Feb.
6 4 A p r.
2 1* J a n .
7% M a r.
fía
146 M ar. 1 4 6 M a r.
331* J a n .
31
‘2814 A p r.
. . . . . 941* M ar. 102 J a n .
4513 F e b .
54% A p r.
301* F e b .
2314 J a n .
2 7 78 J a n .
81 M a r. 8 7 J a n .
20 Ja n .
20 J an.
50 J an.
50 Ja n .
70

5 2 13 M ar.
3 9 1« M ar. 4 0 J a n
2 1 A p r.
17% J a n .
t 21
9 M ar.
5 Jan.
9
7*8
6 Jan.
6 Jan.
9
6
81* M a r
8^* M ar.
12
10
300
310 J a n . 320 J a n
...
. •. .
64*2
2 Jan.
2 78 A p r.
2%
214
17 Feb.
12% J a n .
14
16
7 M ar.
8 ia M ar
9
71«
2 3 is J a n .H
221* 1 2 F e b .
t 20
41
M ar. 4 5 J a n .
t 43
941* J a n .
! 9 2 ia F e b .
t 931«
104 Feb. 110 J a n .
106 n i

t A c tu a l s a le s .

m NEW YORK STOCK EXCHANGE PRICES.—ST A T E BONDS A P R IL 5 .
SECURITIES.

Bid.

Ask.

Alabama—Class A, 4 to 5 ........1906

105
106
95
95
2
170
1
110
100
94

108

Curreocy funding 4 s .............1920
Arkansas—6s, f undLHol. 1899-1900
do. Non-Holford
7s Arkansas Central RR .............
Stam ped 4 s .............. ..................
N <*■ ooTiO1*! 4 a __. . . . . . . 1914

20

"lO ‘
97

SECURITIES.

New York City Hank Statem ent for the week ending
March 30. 1895. We om it two ciphers (00) in all cases.______
Ba n k s .

(00s om itted.)

C apital S u r p i s L oans.

B ank of N ew Y ork.. $ 2,000,0 $1,988,0
M a n h a tta n Co.......... 2.050.0 1.957.6
929.6
M erch a n ts’................ 2, 000,0
2, 000,0 2 , 122,2
M echanics’...........
2.149.8
0
A m e ric a ...................... 3.000.
409,9
0
P h e u ix ........................ 1. 000 .
1, 000,0 3.042.0
C i t y ...........................
160,3
750.0
T rad esm en ’s .............
300.0 7,1*4,4
C h e m ic a l............ .
140.2
600.0
M erch a n ts’ E x c h ’ge
G allatin N a tio n a l... 1, 000,0 1.646.4
264.8
300.0
B u tc h e rs’& D rovers’
405.8
400.0
M ectianios’ & T ra d ’s
200.0
179.7
G re e n w ic h ...........
483.8
600,0
L e a th e r M annfao’rs
107.5
300.0
S eventh N a tio n a l...
502.3
S ta te of N ew Y o rk .. 1.200.0
0
A m erican E x ch an g e 5.000. 2.359.8
0
C o m m e rc e ............... . 5.000. 3.519.6
0
B road w ay ................. 1.000 . 1.598.4
942.7
M e rc a n tile ___ _. . . . 1,000,0
473.4
422,7
Pacific................ . . . . .
920.0
R epublio..................... 1.500.0
984.4
450.0
C h ath am .....................
200.0
264.0
People’s . . . . . . . . . . . . .
564.3
700.0
N o rth A m e ric a ......
H a n o v e r .................. 1,000,0 1.861.7
500.0
338.4
I r v in g .........................
600.0
379.1
C itizen’s ...............
500.0
274.2
N a s s a u . .. .. .. . . . . . . .
750.0
808.3
M ark e t & F u lto n ...
10,3
Shoe & L e a th e r....... 1, 000,0
Corn E x c h a n g e ........ 1, 000,0 1.133.5
201.7
C o n tin e n tal............... 1, 000,0
300.0
411.6
O rie n ta l....... .............
I mpo i te rs ’& tra d e rs 1.500.0 5.464.7
2 , 000,0 3.086.7
P a r k .......................
250.0
137,2
E a s t R iv e r . . . ___
F o u rth N a tio n a l.... 3.200.0 1.977.0
513.1
C entral. N a rio n a l.. . . 2,000,0
300.0
584.2
Second N a tio n a l....
750.0
368.0
N in th N a tio u a l........
600.0 7.197.1
F ir s t N a tio u a l.........
201.5
T h ird N a tio u a l......... 1, 000,0
300.0
118.1
N . Y. N a t. E x ch an g e
250.0
548.6
B i w ery..................
200.0
509.7
N ew York C o u n ty ..
750.0
264.3
G orm an A m e ric a n ..
500.0 1.145.1
C hase N ai lo c a l...
100.0 1,026,3
F if th A v e n u e ....
647.2
200,0
G erm an E x c h a n g e ..
200,0
614.3
G e ru ra n la . . . . . . . . .
500.0
528.7
U ait ed S ta te s ...........
300.0
516.0
L in c o ln .. . . . . . . . . . . .
200.0
659.9
G a r f ie ld ............. ......
200,0
306.5
F ifth N a tio n a l.........
773.3
300.0
B ank of th e M etrop.
200.0
297.0
W e s t S i d e . . . . . . . __
216.3
500.0
S e a b o ard ....................
200.0
340.3
S ix th N a tio n a l.........
215.9
W este rn N a tio n a l.. 2 ,100,0
300.0
868.7
F ir s t N a t. B r’k ly n ..
542.1
500.0
S o u tie r n N atio n al..
326.6
N it. Onion B an k __ 1,200,0
119.2
500.0
L tbertv N a t. Rank.
313.6
N .Y . P rod. E x c h ’ge. 1 ,000,0

$12,640,0
13.111.0
8,378,9
9.412.0
16.906.9
4.384.0
20.026.7
2.037.1
26.467.5
3.864.8
6.474.1
1.600.2
2.460.0
1. 102.0

3.305.0
1.664.4
3.063.8
23.537.0
21.895.7
5.871.5
7.342.3
2.284.4
10,752.4
5.790.6
2.275.4
5,1' 6,4
14.977.6
2.860.0
2.778.4
2.650.8
4.164.0
2.903.0
8.462.4
4,473,3
1.930.0
20.856.0
26.626.6
1,116,2
17.449.9
9.459.0
5.032.0
3.506.8
25.844.9
8.404.7
1.422.8
2.793.0
2,967,7
2.799.2
15,031,6
6.592.9
2.932.3
3.054.3
6.255.9
5.868.5
4,089,2
1.737.5
4.916.9
2.690.0
4.671.0
1.853.0
9.629.1
4.156.0
2.811.6
7,393,5
1.530.0
3.288.4

Specie.

Legats. Deposits

$L37(U) $1,980,0 $12,360,0
2.346.0 13.537.0
1,062,0
352.0
8.750.2
1.632.6
1.195.0
8.284.0
1.170.0
2.683.7 17,384,7
1,762,3
3.952.0
553.0
469.0
1.219.2 25.006.9
7.815.5
1.911.5
124.8
394.1
0,078,8 28.231.0
2.916.0
418.4
4.267.5
732.3
1.241.8
5.500.6
423.1
1.725.2
423.6
142.5
185.0
285.0
2.290.0
1.072.1
197.5
135.5
3,015,9
379.8
467.1
1,918,4
271.8
262.4
2.253.3
413.3
147.8
3.614.0 17.806.0
935.0
5.113.2 18.366.9
364.7
5.564.0
616.7
1.075.0
1.245.2
1,557,2
8.127.3
505.1
3.053.7
589.5
1.786.5 11,746,2
1,397,8
814.5
5.930.8
798.7
2.876.6
233.9
313.6
5.102.4
631.5
657.5
1.645.4 18.479.0
3.736.7
3.018.0
600,0
414.1
3.148.3
809.5
533.9
3.168.7
128.5
651.3
414.4
4.525.1
987.7
3 , 020,0
436.0
311.0
9.346.7
788.0
1.566.7
5.510.3
476.1
1.063.0
1.780.0
239.0
207.6
2.674.0 20.703.0
3.042.0
2.664.8
5.913.2 31.011.0
091,5
190.0
109.3
591.8
3.742.0 17,602,4
927.0 10.176.0
1.512.0
6.240.0
990.0
943.0
3.755.9
454.2
508.0
687.4 24.135.1
4.799.1
9.394.9
405.2
1.813.5
1.344.6
200.3
140.8
2.900.0
207.0
456.0
3.471.9
225.2
710.2
2.741.8
522.9
236.5
3.187.6 18,188,6
1.662.9
7.267.4
1.099.4
767.7
3.261.4
524.3
289.3
3.568.6
226.7
485.0
6.250.6
704.5
926.4
7,154,3
1.219.1
1,062.0
5.213.2
770,2
776.9
456.0
211.9
1.993.1
5.964.0
893.0
800.3
2.820.0
462.0
253.0
5.644.0
1,504,0
235.0
1.615.0
260.0
224.0
1.640.2
9,905 8
972.8
4.837.0
629.0
1,250,0
2.865.2
735.8
79,1
7.330.7
1.009.3
622.1
1.444.0
410.8
13,0
2.389.9
200.0
435.4

I'o ta i.. . . . . . . . . . . . «2.622.7 71.046,8 4«2.524.1 «5.578.9




Bid.

Ask

Bid.

SECURITIES.

Ask.

T ennessee—6s, old ......... 1892-1898
Missouri—Fund...............1894-1895
6s, n ew b o n d s____ 1892-8-1900
North Carolina—6s, old ...........J&J
___^
do
new series............... 1914
F unding a c t..................
1900
Compromise, 3-4-5-6S...........1912
N ew bonds, J & J ......... 1892-1898
3 s ................................................1913
Chatham R R ...................................
84ie 849s
1
3
90
Redem ption 4 s ......... ............ 1907
Special ta x , Class I .......................
1
2I3
do
4 t* s.................. 1913 100
Consolidated 4 s ..................... 1910 101 105
P enitentiary 4i*s.................. 1913 100
6 s .....................................
1919 124
Virginia funded debt. 2-3S ...1991 59
5914
South Carolina—4**s, 20-40.. 1933 106 Ï08
51*
6%
6s. d eferred t’st reo'ts, stam ped.
6s, non-fund............................ 1888
It* 2

73 «04 « 504 2 4 0 .2

New York City, Boston ami Philadelphia Banks:
BANKS.

N . Y o r k .*
M ar. 2 __
“
9 ...
« 1 6 ....
“ 2 3 ....
“ 3 0 ....
B o sto n *
M ar. 1 6 ....
“ 2 3 ....
“ 8 0 ....

Phlla.*

Capital &
Surplus.

Loans.

Specie.

$
484.201.2
489.329.2
489.004.0
484,652,4
482.524.1

$
69.592.5
67.224.0
67.573.6
65,120,4
65,578,9

Legáis. Deposits.\ Gi/rc'Vn Clearings.
$
120835
121135
122955
123663
128956

$
531.685.2
504,206,4
516.996.2
524,582,9
193,411,8

69.351.8 165.526.0 10.693.0 4.927.0 146.940.0 7.275.0
69.351.8 163.726.0 10.806.0 6.259.0 146.524.0 7.280.0
69.351.8 162.812.0 10,579,0 4.879.0 143.903.0 7.304.0
101.089.0 5.409.0
27,0 50.0
35.810.3 105.102.0
99.831.0 5.471.0
26.4 12.0
35.810.3 104.148.0
98.694.0 5.628.0
25.4 [)8,0
35.810.3 104.079.0

84,019,2
83.261.6
75,719,4

$

133.650.9
133.650.9
134.951.5
133.669.5
133.669.5

$
90.572.2
87,557,1
79.649.3
76,287,9
73,894,6

$

528.440.8
527.969.9
518,496,5
509.047.2
504.240.2

58,179,1
M ar. 1 6 ...
63.751.7
. “ 83 ..
60.290.8
“ 30
* We orn.it two ciphers in all these flgn/res. + In c lu d in g fo r B oston a nd P h i la
delphia th e item “ d ue to o th e r b a n k s.”

Miscellaneous and Unlisted Bonds :
M is c e lla n e o u s B o n d s .
B oston U n. Gas tr. c e rts., 5 s .
Ch. Ju n .& S. Y ds.—C ol.t.g.,5s n o T b .
Col. C. & I. D evel. gu. 5 s ....... * 94 a.
Colorado F u el—G en. 6s ......... .
Col. & H ock. C oal & I . —6s, g. " 7 5 " b.
Cous.G as Co..Chio.—ls tg u .5 85 a
102 b.
E dison E lec. 111. C o.—1st 5s . 105 %b.
Do
of B klyn., 1st 5 s___
E q u i t G .-L ..N . Y., oons. g. 5s. * ïil% b .
94 b.
E q u ita b le G. & F .—1 s t 6s . . . .
H enderson B rid g e—1 s t g. 6s. 112 b.

-M is c e lla n e o u s B o n d s .
M ioh.-Penln. C ar 1 st 5 s. . . .
M utual U nion Teleg.—6s g . .
N a t. L inseed Oil deb. 6s, g ...
N . Y. & N . J . T elep. gen. 5 s ..
N o rth w e stern T e le g ra p h —7s.
People’s G as & C. 1 1 s t g. 6s .
Co., C h ic a g o .... J 2d g. 6s.
1 s t cons. g. 6s .......................
Pleas. V alley Coal - 1 s t g. 6s.
S o u th Y u b a w a te r Co.con,6s.
S unday C reek Coal 1 s t g 6s..
U. S. L e a th e r—S .f .d e b .,g .,6s
W este rn U nion T eleg.— , ..
W h ee l.L .E .& P iit" Coal 1 s t 5s
U n lis te d B o n d s.
C om stock T u n n e l—In o 4 s ..
M em .& C harleston—Con 7 g.

iÖ 7 " a .
*110 b.
ÌÒ7**a.
90 ■aa.
98 b .
112 34b.
110 b.
64 tab.

4 tab.
M h i , h a t. B each H . & L. g. 4s. 45 b.
M etropol, Tel. & TeL 1st 5s - 105 b.
N ot ®.—“ 5 ” in d ic a te s p ric e bid ; “ a ” p ric e asked. * L a te s t p ric e th is we* k

Bank Stock List—Latest prices this week.
B A N K S.

Bid.

A sk.|

B A N K S.

Bid. A sk.

G a lla tin ......... 300
G arfield......... 300
112
G erm an Ex.*
B ro a d w a y ... 235 250
G e rm a n ia .... 300
B u tch s’& D r. 150 165
G re e n w ic h .. 160
C e n tia l......... 117 122
H a n o v e r ..... 310
C hatham ....... 340 400“ H u d . R iv e r.. 150
C hem ical . . . 4000 4800 Im . & T ra d ’s’ 500
135
C ity .......... . 465 500
L e a th e r M fs’ 170
C itizens’........ 130 150
L in c o ln ........ 565
C o lu m b ia ....
C om m erce... 18Ò” Í85* M a n h a tta n .. 187
M arket& Fnl 215
C o n tin e n ta l. 125
280 3ÖÖ M echanics’.. 180
M’chs’ & T rs ’ 140
M e rc a n tile .. 160
E a ’ t R iv e r.. 130 167
M erch a n ts’.. 132
200
M eroh’t s E x 112
2000
M e tro p o lis.. 400
F ifth * ............
Mb. M o rris .. 100
2500
N assau---- . . . 150
F ir s t N., 8 .1 . 115 120
N ew Y o r k ... 225
170
N .Y . Co’u ty . 540
F o u r th ____ 181 188
A m e ric a ....... 200
Am. E x c h ... 157

210

(*Not listed.)

BA NK S.

B id.

N .Y . N at. E x 100
N in th .......... 120
19th W ard .. 110
122
N. A m erica. 137
. . . . . . O rie n ta l. . . . 200
P a c if ie ...... 175
33Ó" P a r k ............ 275
People’s __
P h e u ix ........ i i T
540
150
R e p u b lic .... i'4'7
210
Seahoa- J . . . 168
S e c o n d ...... 300
190
225
200 Shoe& L e’th 96
S o u th e r n ... 140
165
S ta te o f N.Y. lu S
180
T h i r d ___. . . 105
140
T rad esm ’n ’8 50
120
23d W ard*.. .........
465
U n io n * ...... .........
165*' U n ’d S ta te s 180
1 11
W e s te rn
237
W e s t S id e .. 2*0
600

A sk
125
145
240
300 *
IS S "
155
169
1Ö2
165
112
---. . .
95
.........
.........
-. . . . .
114

THE CHRONICLE.

598

l V o L,

LX ,

BOSTON, PHILADELPHIA AND BALTIMORE STOCK EXCHANGES.
Active Stocks.
IT Indicates unlisted.
Atch. T. & 8. F e (Boston).100
A tlantic & P ac.
“
100
Baltim ore & Ohio (Balt.) .100
B alt, City P ass’g ei “
25
Baltim ore Traction “
25
Baltim ore Trac’nfl (PAtf.). 25
Boston & Albany (Boston).100
B oston & Lowell
“
100
B oston & Maine
“
100
Central of Mass.
“
100
Preferred
“
100
Chic. Bur. & Quin. “
100
Chic. Mil. & St. P. (P h il.).100
Choc.Okl. & Gulf If “
50
Cit. St. P.y of Ind« “
. 100
E lectric Tracti’n
“
50
Fitchburg pref . (Boston). 100
Lehigh V a lley .. (P h ila .). 50
Maine Central (Boston). 100
Metropol’n Trac. IT (P h il). 100
M exican Cent’l (Boston). 100
N.Y.&N.E.,tr.rec.§ “
100
Preferied,tr.rec.§ “
100
Northern Central (B a ll.). 50
Northern Pacific (P h ü a.) 100
Preferred
“
100
Old Colony....... (Boston) 100
P en n sy lv a n ia . . . ( P h ila .). 50
P eople’sTraction
“
50
Phila. & Reading.
“
50
Philadelph. Trac.
“
50
Union P a cific... (Boston) .100
M is c e lla n e o u s S to c k s .

Am .Sug’r Refln ,\\( Boston)---P referred ....... .
“
...
B ell T elephone..
“
100
Bost. & Montana.
“
25
B u tte & B oston..
“
25
Calumet & H ecla
“
25
Canton Co . . . . . . (B a lt.). 100
Consolidated Gas
**
100
Elec. S tor. B at’y H(Phila.) .100
Preferred If
“
100
Erie Teleph on e . Boston). 100
G eneral Electric.
**
100
P referred .........
“
100
Lam sonStoreSer.
“
50
Lehi’h Coal&N&v. (P h ila.) 50
N. E. Telephone (Boston). 100
Unit'd Gas Imp.HYPAiiaJ. 50
Welsbacb L ig h t«
“
5
W est End L a n d ..(B o ston )..-,
k All instalm ents paid.

Monday,
April 1.

Saturday,
March 30.
6 78

.7*16

7%

6%

59% 60
*70
15% 15%
15%
15
*15
Ï5%
206% 207
207 207
198 198% 199 199
166 166
166 166
12
12%
*11
50
50
73 % 74
735a 74%
58%
58% 58% 58
*59
*70

60

37%
*79
85%
32
1 9Qlft
90
87s
37%
66%

4%
16%
ISO
50%
55%
6%

Tuesday,
April 2.

W ednesday,
April 3.

7

6% 611j 6
1
1

6%

*81%
58% 59
*70
15
15%
14% 15
206% 207
199 199%
166 166%
*12%

58% 58%
71%
*1 4 78 15%
15
15
206% 206%
*199 199%
166 166%
*11% 12
*48% 50
73% 7 3 7s 73% 73%
58% 58% 57% 57 7s

37% 38
38
77
77
79% 78% 79
86
86
85% 85% 86
32% 32% 31% 32%
32
1 9QL» 1 29 129% *1291* 130
85
83% 90% 81
91
9
8%
8%
9%
93u
37
38%
38% 36% 39
65
67% 65% 66%
66%
68
*67
68
*67
4% 4%
4% 4%
4%
16% 17% 17% 17% 17%
180 180 *179% 180%
180
51%
51
51% 51.
51
54%
55% 54% 55% 54
6% 61»,«
6% 61sjb 7%«
76
78%
«79% 82
90

90
11% 11% *11%

11%

11%

11%

38
'78

86

38%
79
86%

32% 33
130 130
83% 88%
8%

8%

11%

11%

3 6 78 38%
65% 65%
*67
68
4% 4%
16% 16%
179% 179%
51% 51%
54 7s 55%
6 °ie 61%«
73% 80%

Friday,
April 5.

Thursday,
April 4.
67,8

1
58%
70%
*15%
15%
207
198%
166
*11

6%

1
53%
70%
15%
15%
207
198%
166
12
50
73% 73%
57% 58%

63,e 69i8 17,120
510
1
1
245
*58% 59
17
*70% 71
670
*15% 15%
1,990
15
15%
123
83
150
105
*u
12
*
50
4,731
73
73%
10,800
57% 58

Ask.

Prices of A v r il 5.

92
100
100 1259
50 32%
3
50
C ataw issa.........
50
50
1st preferred
Central Ohio------. . . . . (B alt.). 50
Chicago & W est Mich.(Boston). 100 t 12%
Connecticut & P a ss..
“
100 t l3 7
Connecticut R iver—
•“
100 t240 250
28
Consol. Tract.of N.J.« (T h ila.).100
Delaware& BoundBr.
“
100 164
12
F lin t & Pere M a r q ...(Boston). 100 t 10
P referred ... . . . . . . .
“
100 t 29% 30
59
H esto n v ille PasBeng. (P h ila .). 50
72
Preferred If..............
“
50
Hunt. & Broad T o p ...
“
50 32% 33%
Preferred....... ..
“
50 50% 51
15
Kan. C’y F I.S.& M em .(Boston). 100 t 10
50
P referred..................
“
100 t 40
66
%
64
L ittle Schuylkill..........(Phila.). oO
Mine H ill & 8 .H aven
“
50 66
Nesquehoning V a l. . .
“
50
4%
North American C o..
100
North P ennsylvania.
“
50 84
5
Oregon Short L in e ...(Boston). 100
40
P en nsylvan ia& N .W . (P h ila .). 50
20
Philadel. & E rie.........
50 15
2
2%
R u tla n d ........................(Boston) 100
72
Preferred............ .
**
100 t 70
11% 12
Southern.........
( B alt.) .100
33
33%
“
100
Preferred..................
W est E nd...................... (Boston). 50 t 63% 64
87%
88
P referred ...................
“
50
U nited Cos. of N. J . . (P h ila.). 100 234% 235
.........
I
54
“
50, . . . . .
W est J ersey....................
26%
W est Jersey & A tlan.
“
50 . . . . .
6%
W estern N.Y. & Penn
“
100
6;
4
W isconsin C entral.. . (Boston).lOO t 3
25
P r e f e r r e d ....... . . .
"
100 t . . . . .
125
Worc’st.Nash.&Roch.
“
100^1120
MISCELLANEOUS.

A llo u ezMin’g.asstpdfB ostow ;. 25
25
A tlantic M ining.........
50
B a y State Gas 1].........
10
B oston L and..............
“
10,
Centennial M in in g ...
«
25
F ort Wayne E lect.« . «
25
Frankiin M in in g .....
«
5
Frenchm ’n ’sB a y L’d.
•• 100
Illin o is Steel. .............
«
25
K earsarge M in in g ....
«
25
O sceola Mining...........
«
100
P ullm an P alace Car.
(Phila.)
.1
0
0
P en n sylvan ia S te el..
“
100 '
P r e fe ir e d « ...............
Quincy M in in g ....... (Boston) 25,
25
Tam arack M ining.. . .
“
100
Water P o w e r . . . . . . . . .
50
Westingh. E lec. & M..
50
Psref., cumul ative -

•25
9% 10%

6%

4
•50

1%

11
•50
45
8

•60
2%
12
49
8%
22

21

157%
25
20
101% 102
130 135
•90
35%
52
51

At-lop^&i.FAOO-yr?! g.,1989, J&J 67
2 d 2%-4s, g., C la ssA ..1 9 8 9 , A & O .........
B oston U nited Gas 1 st 5 s ..........

Price includes overdue coupons.

67 V

Inactive stocks.

Bid.

100% 101%

.....

186% 191
38% 39%
285 285
73
73
61% 61%
29%
29
28
28
53% 54
34%
3 3 7e
64
64

104
100
A tlantic City 1st 5s, g., 1919, M&N
Belvidere D el., 1st, 6 s . . 1902, J&D
Buffalo Ry. con. 1st, 5 s ...........1931
Catawissa, M., 7 s ......1 9 0 0 , F&A
Choc. Okla. & G ulf, p ior lien 6 s .. 102
Citizens’ St.R y.of In d .,con .5s.l933| 8 6 %
Columb. St. R y„ 1st, con. 5 s.. 1932.
Columb. O. Crosstown, ls t,5 s .l9 3 3
80% 81
Consol. Tract, of N. J., Is t,5 s.l9 3 3
D el. & B ’d Br’k, 1 st, 7 s.l9 0 5 ,F & A 126
Easton& A m . lstM .,5 s .1 9 2 0 ,M&N 109%
Elmir. & W ilm., 1st, 6 s .1910, J& J. 119%
. . . . 109%
H estonville M. & F „ con. 5s.. 1924
H unt. & Br’d T op ,C on .5s.’95,A&O 106
110 %
Lehigh N av. 4%s............1914, Q—J
108%'
2d 6 s, gold..............................1897, J&D
General m ort. 4%s, g .l9 2 4 ,Q —F
,100
Lehigh Val.Coal 1st 5s, g . 1933, J&J
Lehigh V alley, 1st 6s. ..1 8 9 8 , J&D
2d 7 s .........................................1910, M&S
Consol. 6 ................................. 1928, J&D
Newark Passenger, con. 5 s ...1930
North Penn. lB t, 7 s . . ..1 8 9 6 , M&N
Gen. M. 7 s ....... . . . . . . . . 1 9 0 3 , J&J
Pennsylvania g en . 6 s, r..!9 1 0 , Var
Consol. 6s, 0
..1 9 0 5 , Var 119
Consol. 5 s, r ............ .,..1 9 1 9 , Var 116%
Collât. Tr. 4% g ............1913, J&D 106
P a. & N. Y. C a n a l,7 s ...1906, J&D 125
Con. 5s...............
1939, A&O

§ And accrued interest.

46
*72

46

42,966
1,515
1,520
6,343
2,927
25
45
576
184
150
1,543
17,696
390
846
104

12

2,066
69%
2,444
39% 42%
3 t0
*2% 2%
II L ow est is e x div.
68

H ighest.
7% Apr.
1 Apr.
65 Jan.
71 Jan.
16% Jan.
16% Jan.
210% Jan.
200 Jan.
168% Jan.
12% Apr.
53 Jan.
7438 Mar.
58% Apr.

86% Jan.
90 Jan.
186% Jan.
33% Jan.
9 Mar.
280 Mar.
70 Jan.
61% Jan.
28 Jan.
28 Apr.
45% Feb.
25% Mar.
60 Feb.
22% Feb.
40% Mar.
66 Feb.
67 Apr.
36 Mar.
2 Jan.

42
87

Mar.
Jan.
867e Feb.
36% Jan.
131 Jan.
106% Jan.
9% Apr.
39 Apr.
67% Apr.
67% Jan.
4% Apr.
18 Jan.
180% Jan.
51% Jan.
57 Mar.
7% Mar.
99% Jan.
1178 Jan.

P eop le’s Trac. tru st certs. 4 s..1913
Perkiom en, 1st s e r .,5 s .l9 1 8 , Q—J
Phila.& Erie gen. M. 5 g.,1920, A&O
Gen. m ort., 4 g . . . . . . .1920, A&O
P hila & Read, n ew 4 g„ 1958, J&J
1 st pref. incom e, 5 g, 1958, Feb 1
! 2d pref. incom e, 5 g, 1958, Feb. 1
3d pref. incom e, 5 g , 1 9 5 8 ,Feb. 1
2d, 5 s ............................ 1933, A&O
Consol, m ort. 7 s ........1911, J&D
Consol, mort. 6 g . . . . . . 1911, J&D
Im provem ent M. 6 g ., 1897, A&O
Con. M .,5 g ., stam ped,1922, M&N
Terminal 5s, g ........ 1941, Q.—F.
P hil. Wilm. & B alt., 4 s . 1917, A&O
P itts. C. & St. L., 7 s . . ..1 9 0 0 , F&A
Rochester R ailw ay, con. os ..1 9 3 0
S chuyl.R .E .Side,lst 5 g.1935, J&D
Union Terminal 1st 5 s .......F & A
B o n d s ,—B a ltim o r e .
A tla n ta * bharf., 1st 7s, 1907, J&J
Baltim ore B elt, 1st, 5S.1990, M&N
Balt. C. Pass. 1st 5 s__ 1911, M&N
Balt. Traction, 1st 5 s ..1929, M&S
E xten . & irnpt. 6 s ....1 9 0 1 , M&S
No. Balt. D iv., 5 s ....... 1942, J&D
Baltim oee & Ohio 4 g ., 1935, A&O
P itts. & Conn., 5 g ...l 9 2 5 , F&A
Staten Island, 2d, 5 g.1926, J&J
Bal.&Ohio S.W .,lst,4% g.l990, J&J
CapeF.& Yad.,8er.A .,6g.l916, J&D
Series B ., 6 g .. . . . . . . . . 1 9 1 6 , J&D
Series C., 6 g ...« ..........1916, J&D
Cent. O hio,4% g . . . . . . . . l 9 3 0 , M&S
Cent. Pass., 1st 5 s........1932, M&N
City & Sub., 1st 5 s ......... 1922, J&D
Chari. C ol.& A ug.ext.5s.1910, J&J
CoL & Greenv., 1st 5-6S.1917, J&J
Ga.Car. & Nor. 1st 5 g ..l 9 2 9 , J&J
Georgia P ac., 1st 5-6S...1922, J&J
North. Cent. 6 s . . . . . . ....1 9 0 0 , J&J
6 s......................................1904, J&J
Series A, 5 s . . . . . . . ....1 9 2 6 , J&J
4% s................................ 1925, A&O
Piedm.& C u m .,lst, 5 g .1 9 1 1 , F&A
P itts. & Connells. 1st 7 s .1898, J&J
Southern, 1st 5 s ...... . . . 1 9 9 4 , J&J
Virginia Mid., 1 st 6 s . . .1 9 0 6 , M&S
2d Series, 6 s . . . . . ..........1911 M&S
3d Series, 6 s . . . ............1916, M&S
4th Series, 3-4-5s........1921, M&S
5thS b ries, 5 s .. . . . . . . . 1 9 2 6 , M&S
W est Va C.& P . 1st, 6 g . 1911, J&J
W est’l.N .C . Consol. 6 g .1 9 1 4 , J&J
Wilm. Col. & Aug., 6 s .. 1910, J&D
MISCELLANEOUS.

Baltim ore Water 5 s . . . 1916, M&N
Funding 5 s . . . . . . . ....1 9 1 6 , M&N
E xchange 3% s.. ......1 9 3 0 , J&J
Virginia (State) 3 s ,n e w .l9 3 2 , J&J
Funded debt, 2 - 3 s .....l 9 9 1 , J&J
Chesapeake G as, 6 s . . . . .1900, J&D
Consol. G as, 6 s .. . . . . . ...1 9 1 0 , J&D
5 s .....................................1939, J&J
Equitable G as, 6 s ......1 9 1 3 . A&O

t Last price thia week.

13
21
4
15
2
24
30
26
1
925
1
9
5
6
39
3
1
1
1
18
1
16
19
1826
27
2
15

104% Apr. 1
96 Mar. 12
197 Feb. 11
39% Apr. 5
11%Jan. 18
292% Feb. 20
91% Jan. 16 65% Jan. 2
34% Feb. 1 3
32% Mar. 18
55 Apr. 337% Mar. 25
70 Mar. 23
25% Apr. 2
49% Jan. 5
72 Mar. 28
72% Mar. 9
46% Mar. 9
2 % Mar. 2 2

Bonds.

Ask.

Boston United Gas, 2d m . 5 s ..1939
Burl. & Mo. R iver E x e u n t 6s, J&J
N o n -ex em p t6 s.......1 9 1 8 , J&J
P lain 4 s . . . . . . . . . . ......... 1910, J&J
104
Ohio. Burl. & Nor. 1 st 5,1926, A&O
2d mort. 6 s . . . . . . .....1 9 1 8 , J&D
Debenture 6 s ...... . . . 1 8 9 6 , J&D
Chic. Burl.&Quincy 4 s ..1922, F&A
Iow a D ivision 4 s .....1 9 1 9 , A&O
Chio.&W.Mich. gen. 5s, 1921, J&D
Consol, of Verm ont, 5 s .1913, J&J
Current R iver, 1st, 5 s ..1927, A&O
D et. Lans. & Nor’n M. 7 s .1907, J &J
121
Eastern 1st m ort 6 g.l906,M & S ..
Iree.E lk.& M .V .,1st, 68.1933, end.
"75
K.C.C.&Spring.,1st,5g.,1925,A&O
K O. F.S.& M . con. 6s, 1928, M&N
K.C. Mem. & B ir.A st,2s,1927, M&S
K.
C. St. Jo. & C. B ., 7 s ..1907, J&J
L. Rock & F t. S., 1st, 7 s. .1905, J&J
Louis.,Ev.&St.L.,1st,6g.l926,A& O )101
2m ., 5—6 g ..................1936, A&O
Mar. H . & Ont., 6 s........1925, A&O Libi* I........
M exican Central, 4 g . . . 1911, J&J 5978 61
14%
1 st oonsol.incom es, 2 g, non-cum. 14
2d consol, incom es. 3s, non-cum.
N . Y. & N .E ng,, 1 s t ,7 s ,1905, J&Jt *115 116
1st mort. 6 s .. . . . . . ....1 9 0 o , J&J 108
2d m ort. 6 s . . . . . ......1 9 0 2 , F&A 104%
Ogden. & L .C .,C on .6s...l920,A & 0 105
Inc. 6 s .................
1920
Ru tland, 1 st,6 s ............. 1902,M&N fiib%'i"ii%
2d, 5 s.............................1 8 9 8 ,F&A § 101 %

«U nlisted.

Lowest.
35g Jan.
•50 Jan.
4 9 78 Mar.
69% Mar.
14ift ja n .
1 4 ^ Jan.
206% Mar.
196% Jan.
160 Jan.
10 Mar.
48 Feb.
69% Mar.
54 Mar.

1,655 341* Feb.
38% 39
243 71 Jan.
78% 7f%
300 82% Jan.
86
86% *85% 86%
856 27is Mar.
32% 32% 32% 32%
73 125ift Jan.
*130
*130
87% 88% 24,867 81 Apr.
88%
x87
5% Jan.
8%
8% 12,182
8% 81%.
36% 37% 37% 38% 16,554 29 Jan.
656 591« Feb.
66%
*65
65
65
64 Jan.
*67
*67% 68%
68
2% Jan.
4% 4% 4,161
4% 4%
13 Feb.
876
*16%
17%
*16% 17
24 1781* Jan.
179% 179% *179% 180%
2,646 48% Jan
53%
51
51% 51
4,774 43% Jan.
55
55% *55% 55%
23,178
6%
313x6 Mar.
6%
6%
6%
80% 17,327 76 Apr.
79% 80% 80
8 Mar.
149
11%
*11
11% *11

103% 104% 102% 103% 101% 102% 100% 102%
94%
94
94
94% 94% 94% 94% 94
190 191
190 192
xl91% 192 *192
38%
38%
38%
37%
38%
38%
37% 37%
9% 9%
9% 10
10
10
10
10%
285 285 *282% 287% *282% 285 *282% 285
73
73
*71%
61% 61%
62% 61% 62
*62
62% 62
28
28
28
28
28
*28% 29% 28
28%
54
54%
53% 53% 55
52% 53
52
*51% 52
35% 35% 33% 35% 32% 34
35% 36
35% 36
64
64
63
65
67
*65
*66
68
63
*66
24% 24%
24% 24% 24% 24% 25% 24% 25
24
45%
45%
46
46
*45%
45%
45%
46
45%
45%
7I
*72
71% *72
*72
68
67 7s
67%
67%
69
67
x
6
7
68
39% 39%
37% 37% 38% 39
37% 38
*2%
2%
2%
2%
2%
2%
*2%
*2%
2%
2%
« E x rights,
* B id and asked prices; no sale w as made.
Bid.

R ange of sales in 1895.

38% 38%
79
79

101%103%
94% 94%
•191 192
37% 37%
9% 10
285 285
*70
75
*62
62%

Inactive Stocks.




Sales
of the
Week,
Shares.

S h a r e P r ic e s — n o t P e r C e n tu m P r ic e s .

Bid. Ask,
91% 91%.
100 % 101
116% 118
64*4
26
14%
10%
115
125
116
101

64%
26%
15
11
126

96
101% 102
100%
115
101 102
107% 108
118%
101%
116
106%
103
105%
101
106

119
103
117
107
103%
106
102

105 ib'é
77% 78%
58
65
55
65
110
107%
105%
106%
81%
108
112%
115
115
105
99%
107%
87%
110
112

111
108%
105%
107
S3
109
113

100%
108
88
115

i b i " 102%
105% 105%
110
115
122% 123
103%
72%
59%
108%
116
105%
.........

103%
73%
59%
117
106%,

......

NEW YORK STOCK EXCHANGE PRICES (Continued)-.! CT/r.#
.R a il r o a d a n d

599

!THE CHRONICLE,

A pril 6, 1895,]

Hosing
M is c e l . B o n d s . In ter't P rice
Period Apr. 5.

lange (sales) in 1895.
Lowest.

Railroad

Highest.

BONDS APRIL 5 AND FOR YE A R 1895.

and

0losing Rc
Range (sales) in 1895.
Miscel . B onds . . nter’t P rice
Period A pr. 5.
Lowest.
H ig h est

Pao. of Mo.—2d ext. 5S..1938 j & J 104 %b. 10
Q - F lil% b . i 10% Feb. L13 Jan.
Mar. 1061* Jan.
St.L. & Ir. M t.lst ex t., 5 s .1897 ]P & A 101 %b. 10
67%
J & J
62% Mar. 68% Apr.
Mar. 103% Jan.
2d, 7 g .............................. 1897]
20%
A &0
N* 102 %b. 10
16% Mar. 22 Apr.
Apr. 104 Jan.
Cairo Ark. <&T exas,7 g.1897 , & D 101 b. 9
F & A 23 a. 18 Mar. 22% Mar.
Mar. 101 Mar.
Gen.R’y & land g r.,5 g .l9 3 1 L & O 74%
7
49 b.
■Apr. 791* Jan.
3
j & J
2 % Mar.
Mar. 117% Jan.
3 Jan. Mobile & Ohio—N e w ,6 g ..l 9 2 7 j & D 114%b. i l
General mortgage, 4 s . . . .1938 ] I & S 64 %a. 6
A & O 92 b. 86 Mar. 95 Mar.
Mar. 66% Jan.
94
M A N
84% Mar. 94% Mar. Nash. Ch. & St. L.—1st, 78.1913 . & J 130
Mar. 132 Feb.
13
Consol., 5 g ....................... 1928 , 1 & o 100 a. 10
J & J 109% :.09 Jan.
Feb. 102 Mar.
11 Jan.
M A 8 103%
N 93 %b. 9
02% Mar. L07 Jan. Nat’l Starch Mfg.—1st, 6 s .1920 j
93% Mar.
!Jan.
!i.Y. Central—D ebt e x t.4 s .1905 ]d & N 102%b. 10
51%
Mar. 103 Feb.
1st, coupon, 7 s .................. 1903 j & J 122 %b. 12
Q - J *lll% b . l11% Feb. 112 Feb!
124% Jan.
Deben.,T>s, coup., 1 8 8 4 ..1 9 0 4 j d & S 105 %b. 10
M & N 118 b. ;.14 Mar. L21 Jan.
109% Jan.
N. Y. & Harlem , 7s, reg.1900 ]d & N 118%b. 11
J & J 112 %b. .11 Jan. L12% Jan.
117% Jan.
R. W. & O gd.,consol., 5 a.l9 2 2 i L & 0 113%b. 11
Q -M 104
01% Mar. L08 Jan.
119 Jan.
W est Shore, guar., 4 s . . ..2 3 6 1 , & J 105 b. 10
M A N 85 b. 85 Mar. 92 Jan.
105 % Apr.
N.
Y.
Ohio.
8
b
St.
L.—4
g
.„
1
9
3
7
i
L
&
0
J
&
J
111%
:
102
b.
>
s....1
9
2
1
.11%
Apr.
104%
Mar.
1.14%
Jan.
10
Am. Dook & Imp.
J & J 103 %b. 02% Jan. L04 Apr. S'. Y. E levated—7 s ............ 1 9 0 6 , & J 108% 10
108% Mar.
Central Pacific.—G<
A & 0 115 b. 19% Jan. L21 Feb. N. Y. Lack. & W.—1st, 6 s .1 9 2 1 , & J 132 b. 13
Mar. 133% Jan.
Construction, 5 s ...............1923 ] ? & A 114 b. 11
114 Mar.
M ortgage, 6 g . . . . ........... 1911 A A O 115%b. L17% Feb. L20 Mar.
M A N 105 %b. L03% Mar. L07% Jan, N.Y.L.E.&W.—lst,o o n .,7 g .l9 2 0 ]d & s 127 %b. 12
132% Feb.
2d consol., 6 g .................. 1969 , & D 66 a. 5
M A 8 73 %b. 69% Mar. 75% Jan.
Mar. 65 Jan.
Long D ock, consol., 6s,g. 1935 L & O 126 b. 12
J & J 92 b. 91 Feb. 94 Jan.
Feb. 131 Jan.
N. Y. N. H. A H . — Con. deb. ctfs L. & 0 139 b. 13
J & J 83 b.
Jan. 141 Jan.
M & 8 96
89 b. 8
92 Feb.
95 Mar. 99% Jan. N. Y. Ont. &W.—R e f.4 s ,g .l9 9 2 j d & s
Jan.
Consol., 1st, 5s, g .............1939 , & D 110%b. 11
J & J 119% L18 Mar. L21 Jan.
Feb. 111% Jan.
M& N 98 b. 98% Mar. 101 Jan. N.Y.Sus.&W.—I s t r e f.,5 s g .l9 3 7 , & J 105% 10 I Feb. 108 Jan.
Midland o f N. J., 6s, g . 1910 4 & O 115 %b. 11
M A 8 99%
99% Mar. 104 Jan,
Apr. 119 Jan.
F & A 94%b. 93% Feb. 96% Jan. Norf.A W. — 100-year, 5 s ,g .l9 9 0 , & J 55 b. 4 I Feb. 55% Apr.
M & N 83%
& J 114%
86% Feb. 89 Mar. No. Pacific—1 st, co up., 6 g. 1921
11
Feb. 114% Jan.
General, 2d, coup., 6 g .. 1933 4 & O 85 %b. 8
M & 8 115 %b. .15% Mar. 120% Jan.
89% Jan.
General, 3d, ooup., 6 g .-1 9 3 7 ' & D 53 %b. 4
J & D 116 b. .14% Feb. L16% Jan.
58 Jan.
Chic. & E. 111.Consol, m ortgage, 5 g ...l 9 8 9 r & d
A & 0 *120 b. L24 Jan. L25% Jan.
27 b. 2
Jan.
28% Mar.
Col. tru st gold notes, 6 s. 1898 M & N 74 b. 7
MAN
97%
96 Feb. 93% Jan.
Mar. 77% Jan.
Chic. & N. Pao., 1st, 5 g .1 9 4 0 4 & O 42% 13
M & N
80 b. 77 Mar. 86 Jan.
Jan. 143 % Apr.
Seat. L. 8. A E., 1st, gu.6.1931 r & a 40 b. t3
Oct.
18. b. 15% Mar. 23 Jan.
Feb. 45 Jan.
' J & J 94 b. 90% Jan.
Mar. 34% Jan.
Chic. Gas L. & O.—1st, 5 j
94% Feb. No. Paoiflo A Mont.—6 g .,1 9 3 8 M & S 33
3
J & J *125 %b. 125 Feb. 126 Jan. No. Paoiflo Ter. Co.—6 g ...l9 3 8 r & j
98 %a. 9
Chic. Mil. & 8t. P .—C on.;
Jan. 100% Jan.
1J & J 116%a. 114% Mar. 116% Jan. Ohio & Miss.—Con. s. f., 7s. 1898 r & j 107 b. 10
Mar. 107% Feb.
Consol., 7 s ......................... 1898 f & j 107 b. 10
i j & J 116% 115 Mar. 117% Jan.
Jan. 107% Feb.
J & J 112 b. 109% Feb. 112% Mar. Ohio Southern—1st, 6 g ...l 9 2 1 r & d
93%
9 I Mar. 96 Jan.
General mortgage, 4 g ...l9 2 1 M <fe N 45 b. 4
5 J & J 104 b. 104 Feb. 105% Jan.
Mar. 43 Jan.
J & J 108 %b. 107% Jan. 109% Feb. Omaha & St. Louis—4 g ...l 9 3 7 J & J 39
Jan. t39% Mar.
t3
; J A J 110 b. 108% Feb. 109% Jan. Oregon Impr. Co.—1st, 6 g.1910 J & D 96 %b. 9
Jan. 100% Mar.
Consol., 5 g ........................ 1939 A & 0
>J A J 88
48%
87 Feb. 88% Jan.
Apr. 55 Mar.
4
1J & D 117 b. 116 Jan. 120 Feb. Ore. R.& Nav.Co.—1st, 6 g. 1909 J & J 109 b. 10 i Jan. 10S% Mar.
Mil. A Nor.—
Consol., 5 g ........................1925 J & D 80
Q - F 138 %b. 139 Feb. 143% Jan.
80 Apr.
Chic. & N. W.Jan.
t7
J & D 120% 120 Apr. 123% Feb. Penn. Co.—4% g., coupon. 192L J & J lll% b . 10 I Jan. 112 Apr.
) A & 0 *120 a. 120 Jan. 120 Jan. Peo. Deo. <fe Evansv. —6 g .1920 J & J 97%
s
Feb. 97% Apr.
E vansv. D ivision, 6 g . . . 1920 M & S * 95 b. s
) A & O 107 b. 109% Jan. 110% Jan.
Mar. 97% Jan.
2d mortgage, 5 g.............. 1926 M A N
) M & N 109 b. 106% Jan. 110 Jan.
33%
Feb. 33 %Apr.
Phila.
& R ead.—Gen., 4 g.1958 J A J 71 b. e
) M & N 108%a. 106% Jan. 108 Jan.
74% Jan.
1st pref. incom e, 5 g....... 1958
j F & A 99 %a. 93% Mar. 102% Feb.
25%
28 Apr.
:
14 3^
2d pref. incom e, 5 g ....... 1958
7 J & J 126 h.
9 78 Mar. 15% Apr.
1 J & .1 IOU3
3d pi*ef. incom e, 5 g ........1958
10>4
6 %Mar. 11% Mar.
L M A 8 88 b. 88 Mar. 91% Jan. Pittsburg & W estern—4 g.1917 J A J 80%
IApr. 84% Jan.
J J & D , l24%b. 122 Feb. 127 Mar. RioGr. w estern—1 s t,4 g.1939 J A J 67%
Jaa.
68% Apr.
Cleveland & Canto a. 7 J & J 87% a. 82 Feb. 86% Mar. St. Jo. & Gr. Islan d —6 g ..l 9 2 5 M A N
55% ti
Feb. 59% Jan.
4J A D
Mar. 115 Mar.
O. O. C. & I.—Consol.,
122 Jan. 122 Jan. St. L. & San Fr.—6g.,C L B .1906 M A N lll% b 1]
6 g., O lassO .......................1906 M A N lll% b t]
4: J & J 122 b. 119 Feb. 123 Apr.
I Apr. 116 Jan.
General m ortgage, 6 g .. 1931 J A J 106 b 1<
0A A 0
74%
74 Mar. 77 Jan.
Jan. 106 Apr.
Cons. guar. 4s, g ..............1990 A A 0
0 April. * 14 b.
49 b
Mar. 54 Jan.
0 F & A 95 a. 93 Jan. 95 Jan. St. L. SÓT West.—1st, 4s, g.1989 M A N
69%
7o% Mar.
Jan.
2d. 4s, g., in com e.............1989 J A J 22%
1 M A 8 91 a.
24% Mar.
9 2 1* Mar.
St.P.M.&M.—D
a
k
.E
x
.,6
g
.l9
1
0
M
A
N
4 J & D 92 %b. 88 Jan.
117%b 1
119% Jan.
94 Mar.
lsto o n so l., 6 g ..................1933 J A J 117% 1
0 M& N 115 b. 114% Feb. 115 Jan.
120 Jan.
“
reduced to 4 % g .. J A J 10L%b 1
102% Jan.
6 J & J 82%b. 79 Jan.
83 Apr.
Montana E xten sion , 4 g.1937 J A D 85
7 J & J 91%b. 90 Feb. 99% Jan.
Dui. So. Sh. & A tl.—5 g ..
87 Jan.
Feb
San
Ant.<&
A
.P.—lst,4
g .,g u .,’43 J A J 58 b
1
J
&
D
59 Mar.
68%b. 65 Feb. 74% Jan.
Jan.
F t. W. & D env. City.—6 g .
Jan. 117 Jan.
GaLH.&8anAu.-M .&P.D.lst,5;a M A N 92%
91 Jan.
92% Apr. Sav. Fla. A West.—1st,6 g. 1934 A A O *110 b. 1
2 J & D ‘89%
96
95 >a Jan.
93 Jan.
87 Jan. 93% Jan. So. Car. & Ga.—1st, 5 g ---- 1919 M A N
1A &0
62%
61 Feb. 6 4 % Mar. So. Pacific, Ariz.—6 g . . 1909-10 J A J 88%a. 86 Mar, 89% Jan.
So. Paoiflo,Cal.—6 g . . . . 1905-12 A A C *109 b. 109% Jan. I l l Feb.
2 A &0
1st consòl., g old , 5 g ........1937 A A 0
3 M A N 98 b. 98 Jan. 99 Apr.
89 b. 89 Feb,
90% Jan.
O M A N 119 a. 117 Feb. 119 Jan. So. Paoiflo, N. M.—6 g ........1911 J A J 100%
99% Jan. 100% Jan.
9 M & fi 71 a. 67% Mar. 71% Jan. Southern—1st cons, g., 5 s. 1994 J A J 87%
84% Jan.
89% Jan.
E. Tenn. reorg. lien 4-5s. 1938 M A S
8 J & D 85 b. 84% Mar. 86 Jan.
82 %a. 79% Feb. I 83% Jan.
Iow a Central.—1st, 5 i
E. T. V. & G.—1st, 7 g ,..190C J A J 112 b. 1
112% Mar,
K ings Co. E lev .—1st, !
5 J & J 70
71 Jan.
68 Jan.
Con. 5 g .......................... 1956 M A £ 105 %b. 1
9 Q -F
105% Mar.
93 b 90% Feb. 95 Jan.
Georgia Pao. 1st 5-6s, g.1922 J A , 107%b. 1
111 Jan.
7 J & J 115%b 112% Jan. 116 Mar.
K noxv. & Ohio 1st 6s, g. 1925 J A . lll% b . 1
114 Feb.
0 J A J 116%b 116% Jan. 118 Jan.
Rich.
A
D
an
v.
con.
6s,
g.1915
J
A
.
Jan.
123
b
119%a.
]
120 Mar.
3J &D
123 Mar. 123% Feb.
W est.N o.C ar.lstcon.6s,gl914 J A . 110%b. ]
Feb. 112 Jan.
»1 Q—J 117%b 117% Jan. 117% Jan.
A
A
C
Tenn.C.
L
A
R
y.—T
en
.D
.,lst,6
*
80% Apr.
8 J & -D * 95 b 95% Feb. 97 Jan.
81%a. 77 Jan.
Birm ingham D iv., 6 g ...l9 1 < J A .
i8 A & ( 107
81 !>. 78 Mar. 80 Apr.
107 Apr. 110% Mar.
83 Jan.
87%
87% Apr.
O J & . 118%a 115% Feb. 120 Jan. T exas & Paoiflo—1st, 5 g ..2 0 0 t J A I
2d, incom e, 5 g......... ........200'
24%h. 21% Jan.
25% Mar
79 ~a„ 76 Mar. 182 Jan.*
iO J & 1 114% 1 Î4 Feb. 117 Jan. ToL Ann Ar. A N. M.—6 g. 192-LM A £
108 %b. L07% Feb. 109% Jan.
rOJ A .
77%
71% Mar. 77% Apr. Toledo A Ohio Cent.—5 g .193.>J A
85 Jan. ToL St. L. & Kan. 0 .—6 g.,191<i J A I) t 60 >. 57 Feb. t6 1 Apr.
17 F & A 79 b 79 Jan.
Nash. FI. At
85 Feb. Union Pacific—6 g ....... ...,1 8 9 i J A 1 104% L02% Mar. 106 Jan.
83 b 83 Jan.
37 J & .
E xt. sinking fund, 8 ....... 189 ) M A 3 89 ). 89 Mar. 98 Jan.
.OJ & . 110 b 106 J an. 110 Jan.
Collateral tr u st,4 % ..... 191 8 M A ii
93% Feb.
16 A & C i 95
i39% Apr. f4 1 Jan.
Gold 6s, ooL tru st n otes. 189 1 F A J 4 S8
83 Feb. 90% Jan.
L7 F A È
56 b . 55 Feb. 56 Mar.
Kan. Pao.-Den. D iv., 6 g. 189 9 M A 1i 106 %b.
108 Jan
10 A & C> 96 %b. 96 Jan. 98 %Mar.
1 st consol., 6 g ..............191 9 M A * 67
62 Feb. 78 Jan.
119% 118 Jan. 121% Feb.
)8 J A
Oregon Short Line—6 g .,192 2 F A j4 88%b. 88 Jan.
93% Jan.
99 M A ì r 107 %b. 107% Jan. 109 Feb.
Or.S.L.AUt’hN.—Con.5g.191 9 A A J 42 a. 39 Feb. 49 Jan.
)2 M & I r 118%b . 118% Apr. 121% Jan.
9
J
A
J
U
.P.D
en.A
G
ulf.con.,
5
g
.l9
3
39% Jan.
D
35%
32
Feb.
)2 M A ì i 107 b. 108% Jan. 108% Jan.
Consol., 5 s.
50 Feb. 64 Jan.
21 M A 1* 130
128% Jan. 131 Feb. U. S. Cord.—1st ooL, 6 g .,1 9 2 4 J A J 57
Virginia
Mid.—Gen.M.,
5
s.
193
6
M
A
29 F & ) k*106 b. 110 Mar 115 Jan.
S 95 b. 94 Mar. 96% Jan.
87% Mar Wabash—1st, 5 g .................193 9 M A N 105% 104ia Feb. 106 Mar*
42 A & <> 85%
81 Jan.
2d
m
ortgage,
5
g..............
193
9
F
A
83% Apr.
4
66%
63% Feb. 70% Jan.
M . K. & Texas.79% Feb.
90 J A J5 83
55% Apr W est. N. Y. & P a.—1st, 5 g.193 7 J A J 106 a. 102*4 Jan. 106 Apr4 4 Feb.
90 F & i l 54
2d m ortgage tru st rèots.192 7 A A 0 *t28%b. 23% Jan. 129 Apr.
95 Jân.
20 M & J1 91
83 Mar
06 M A ;1 103 1>. 103 Mar 108 Mar West. Un. TeL—CoL tr.,5 s.l9 S 8 J A J 107 b. 106 Jan. 108% Jan.
3d,
4 4 Mar. 51% Apr.
38 F A i41 ioo t>. 100% Mar 104 Jan. Wise. Cent. Co.—1st, 5 g .. 19371J & J| 51%
N ote .—“ b ” indicates price bid; “ a ” price a sh ed ; the range is m ade up from actual sales only. * L atest price thin week, t Trust receip ts.

A n er. Cotton Oil, deb., 8 g .l9 0 0
A.6,Top.&S.F —10 0-vr.,4g.l989
2d 3-4 s, g., CL “ A” ........... 1989
OoLMidland—Cons., 4 g.1940
A tl. & Pao.—G u ar.,4 g ....l 9 3 7
W. D. incom e, 6 s...............1910
Brooklyn E lev.—1 st, 6 g--1924
U nion E levated.—6 g . ...1 9 3 7
Canada Southern.—1 st 5s 1908
2d, 5 s .................................... 1913
O en t.G a.-8.& W .lstcon .5s.l929
Central o f N. J . —C on s.,7s.l899
Consol., 7 s .......................... 1902
G eneral m ortgage,5 g .. .1987

NEW YORK STOCK EXCHANGE PRICES—(Continued ).—IN A C TIV E
SECURITIES.

Bid.

Ask.

Railroad Bonds.
t Stock Exchange Prices.)
A lb a ama Mid.—1st, g., guar.. 1928 89
A . T. A 8. F —3d, 4s, Class B .1989
Chicago & St. Lon.—1st, 6 s. 1915
Coi. mid. 1st, g., b s..............1 9 3 6
68
A tl. fc Pao.—2d W. D.; gu. 6 s,. 1907
B alt. %Ohio—1st, 6s. Park B .1 9 1 9 *117’




90
70

SECURITIES.

Bid. Ask.

Baltim ore A Ohio—(Oon.)
5s, g o l d . . . . . . ................ .....1 9 2 5
Uun.8. m ort., gold, 5 s ._____ 1988
W. Va. A P itts.—1st, g., 5 s ..1990
B. A O. S. W., 1st, g., 4% s...l9 9 0 105
Monon. River, 1st g.,g. 5 s ... 1919
Oent’lO hio Reor-.—1st, 4%s .1930 *102
Ak.A Ch. June.—Ist,g ,5 s,g u .l9 3 0
Brooklyn Elevated—2d, 5 s ... 1915
Brunsw ck A W*n—1st. sr. 4 s, 1938

110

104
68

BONDS-APRIL 5.
SECURITIES.

Bid.

Ask.

Buff. Rc eh. A P itts.—Gen., 58.1937 95
122
Ronh. P ., 1st, 6s .............1921
117%
Rooh. A P itts.—Cons. 1st, 68.1922
Burl Ced. Rap. A No.—1st, 58.1906 105% 106
94%
Consol. A collat. t r u s t ,5 s ... 1934
Minn« A St. L.—1st, 7s, g u ..l9 2 7 Ì3 2
Iow a 0 . A W est.—1st, 7 s . . ..1 9 0 9 100
Ced. Rap. I. F. A N., 1st, 6S.1920 92
1st, 5 s ...... ............................ 1921
C.Ohio—Co). ACin.M .lst.4% 8.1939

600?

THE CHRONICLE,

[VOL. LX

NET» fOAK STOCK EXCHANGE PRICES .—IN A C TIV E BONDS—f ContinuedJ—A P R IL 5.
SECURITIES,

Bid.

Ask

SECURITIES.

Bid.

Ask.

SECURITIES.

Bid.

Ask

Pia. CeD A Pen.—l s t g . 5 s ....1 9 1 8 105
Norfolk A South’n—1st, 5s,g. 1947 105
d en t. B B . <S B a sk .—Col. g.f.eO 9S7
1st con. g., 5 s ........................1943
98
Norfolk A West.—General, 6 s. 1931 113%
Cent, of N. J .—Conv. deb., 6 s. 1908 "112
Ft.
Worth
A
R.
G.—1st
g.,
5
s
..1928
62
New River 1st, 6s..................1932 106
58
Central Pacific—Gold bds, 6e, 1895 100 %
Gal. Har. A San Ant.—1st, 6 s .1910
Im p. A E x t., 6 s . . . . . .............. 1934 *55%
Gold bonds, 6 s ............. . . ....1 8 9 6 101
2d
m
ort.,
7
s
..............
1905
Adjustm ent M., 7 s .................1924
Gold bonds, 6 s ....... ................1897 101*9
Ga. Car. A Nor.—1st, gu. 5s, g.1929
Equipment, 5 s ....................... 1905
63
San Joaquin B r., 6 s ............... 1900 102
Ga. So. A Fla.—1st, g. 6s.........1927
Clinch Val. 1st 5 s...............1 9 5 7
60
Mort. gold 5 s ........................... 1939
Grand Rap. A Ind.—Gen. 5 s .. 1924
RoanokeASo.—1st, gu. 5s, g.1922
Land grant, 5s, g ......... . .....1 9 0 0 "93
G. B. W. A St. P.—1st, eon. 5s. 1911
74
Seloto Val. A N. E .—1st, 4s,.1991
Cal. A O. D iv., ex t., g. 5 s ... 1918 103%
2%
Ohio A Miss—2d consol. 7 s ...1911 114%
2d ine, 4 s ................................. 1906
West. Pacific—Bonds. 6 s___1899 104
Honsatonic—Cons, gold 5 s .... 193' 123%
Spring.Dlv.—1 st 7 s................1905
No. Railway (Cal.)—1st, 68.1907
N . H aven ADerby, C ons.5s..l918
General 5s.............. ...............1932
50-year 5 s ............................. 1938 90
Hous. AT. C.—Waco A N. 7s.. 1903 i i o
Ohio River BR.—1st, 5 S .......1 9 3 C 100
Ches. A O.—Pur. M. fund, 6 s . 1898 106%
1st g., 5s (int. gtdj.................193 106 106%
Gen. g .,5 s ................................ 193
96%
uraig V alley—1st, g., 5 s___1940
Cons. g. 6s (int. gtd).............1912
75
78
98 100 Oregon A Califor.—1st, 5s, g.1927
Warm Spr. Val., 1st, g. 5 s .. 1941
Debent. 6s, prin. A in t. gtd.1897
Oreg. Ry A N av.—Col.tr. g ..5 s.l9 1 i
95
O aes. O. & So. W est.—1 st 6s, g.1911 *111
Penn-P.C.C.ASt.L.Cn.g.4%sA194( 105% 106%
Debent. 4s, prin. A int. gtd.1897
70
84
i d , 6 s .................................. ..1 9 1 1 *50
Illinois Central—1st, g., 4s ...1 9 5 1 110
Do
do
Series B . . . . . . 1<5%
Oh. V. —Gen. con.1st, gu.g,5 s. 1938
P.C.AS.L.-l8t,c.,7B.................190< 110%
1st. gold, 3% s......................... 1951
Chicago A Alton—S. F ., 6 s ___1903 U7
................
..1
9
5
0
Cairo
Bridge—4
s
140
113%
Pitts.
Ft.
W.
A
6
.—1st,
7 s ... 1912
102
Lonis. & Mo. River—1st, 78.1900
2d, 7 s ................................... 1912 137*
Springf. D iv.—Coup., 6 s ....1 8 9 8 1(3».
2d, 7 s..................................... 1900 110
127
Middle
D
iv.—Reg.,
5
s...........1921
3d,
7
s
.....................................
1912
I
l
l
i* sT
St. L. Jacks. A Chic.—2d, 7s 1898 107%
O. St. L. A N . 0 .- T e n .l .,7 s .l 8 9 n 109
Ch.StL. AP.—1st,con. 5s,g ... 1932 113
Miss.R. Bridge—1st, b. f., 6 s.l9 1 2 * 102 %
1st, consol., 7 s . . . . .............. 1897 109 109%
Clev. A P ,—Cons., s. id ., 7 s .1900 118%
O hu. Burl. A Nor.—1st, 5 s ....1 9 2 6 103
Gen. 4%s, g., “ A” ............. 1942
2d, 6 s..................................... 1907
D ebentureC s............... ....1 8 9 6
Gold, 5s, cou p on ................ 1951 Ì18*
St. L.V. A T .H .—1 s t ,6 s .,78.189 Ì05*
Ch o Burling. & Q.—5s, s. I..1 9 0 1 162
Memp, D iv., l s t g . 4 s ....... 1951
2d, 7 s ..................................... 1898
110
Io n a D iv.—S in k .fu n d ,5 s.. 1919 105
Ced. F alls A Minn.—1st, 7 s .. 1907 i’io" 121
2d, guar., 7 s . . . . . . . . ........ ..1 8 9 8 l b “
Sinking fund, 4 s .................. 1919 95%
Ind. D. A Spr.—1st 7s, ex. op. 1906
G d.R.AI.Ext.—*1st, 4%s,G.g. 1941 108 i ’i i *
P lain, 4 s .................................... 1921 87%
P eo.A E.-Ind.B.A W .-lst,pf.7s.l90C
100
Ind.D.AW.—1st 5s, g .,tr.reo ..l9 4 7
Chic. A Indiana Coal—1 st 5 s. 1936
2d, 5s, gold, trust receip ts.. 1948
Ohio Ind.AW.—Is tp r e f.5 s ..l9 3 8
Chi. Mil. A St. P .—1st,8s,P .D . 1898 110% 111
Ind. Ills. A Iow a.—1st, g, 4 s .. 1939 80
Peoria A Pek. Union—1st, 6s .1921 111 %
»a, 7 3-1 Os, P. D .................... 1898 115 118
Int. A G. N'n.—3d, 4s, g . . . 1921
21
2d m ortg., i% s.............. ........ 1921
71
26
1st, 7s, $ g., R. D .................... 1902 120 123
K ingsC o.-F .E l.,lst,5,g.,gu.A .1929
Pitts. Cleve. A Tol.—1st, 6 s ... 1922
65
1st, I. A M .,7 s........
1897 114
Lake
Erie
A
W
est.—2d
g.,
5
s.
1941
115%
119
P
itts.
A
L.
Er.—2d
g.
5s,
“A”
.
1928
103
1st, I. A D ., 7 s ........................1899
L. S. AM.Sou.—B.AE.—N e w 7 s .’98 106%
Pitts. Mo. K. A Y.—1st 6 s___ 1932
le t ,C. A M., 7 s ........................1903 121 126
Det. M. A T.—1st, 7 s............. 1906
Pitts. Painsv. A F .—1st, 5 s . . . 1916
97
1st, I. A D .E x te n s io n ,7 s ... 1908 127 129
Lake Shore—D iv. bonds, 7 s. 1899 109*# 110% P itts. Shen. A L .E .—1st,g.,5s. 1940
1st, La C. & D av., 5 s . . . . . . . 1919 *107% 110
122
Kal.
A
ll.
A
G.
R.—1st
gu.
5s.
1938
125
1st
consol.
5
s.........
.................1943
113
1st, H .A D .,7 s ...................... 1910
Mahon’g Coal RR.—1st, 5 s. 1934 113
Pitts. A West.—M. 5 s ,g .l8 9 1 -1 9 4 i
105%
1st, H. A D., 5 s . . . . ............... 1910
78
Lehigh V..N.Y.—1st gu.g.4% s.l940
Obicago & Pacific D iv., 6 s .. 1910 116%
100 % P itts.Y ’gst’nAA.—1st, 5s,con .l927
Lehigh V.Term.—1st gu. 5 s,g.l941 102%
107
Pres. A A riz.C ent.—1st, 6s, g.1916
Mineral P oin t D iv. 5 s ...........1910
Lehigh V’y Coal—1st 5s,gu.g!1933
2d incom e 6 s ...........................1916
108
0. A L. Sup. D iv., 5 s . . ..........1921
1Jtchf. Car. A West.—1st 6s. g . 1916
s*argo A South., 6s, A s s u ...l9 2 4
Rio Grande So.—1st, g., 5 s ...1 9 4 0
Little Rock A M.—1st, 5s, g ..l9 3 7
St. Jos. A Gr. Is.—2d in e......... 1925
I dc. conv. sink, fund, 5 s___1916
9%
uakota A Gt. South., 5 s . . ..1 9 1 6 106 107% Long Island—1st, 7 s .................1898 111
Kan. C. A Omaha—1st, 5 s ..192
Ferry, 1st, g., 4%s.................1922
Mil. & Nor. m ain line—6 s . . .1910
St. L. A. A T. H .-T e r m . 5 s .. 1914 103% 104%
117
98
Gold 4 s ..................................... 1932
Ohio. AN orw.—30-year deb.5s, 7.921
107%
B ellev. A So. 111.—1st, 8 s ... 1896 102
N. Y. A R’way B.—l s t ,g . 5S.1927 100
Escanaba A L. 8 .1 s t , 6 s ....1 9 0 1
Bellev. A Car.—1st, 6s..........1923
2d m ortg., in e ......................1927 37% 43
Chi.St.L.APad.—1st, gd.g.5s 1917
DesM . A Minn.—1st, 7 s . . ..1 9 0 7
97% 102
N.Y.AMan.Beach.—1st, 7s, 1897
St. Louis So.—1st, gd. g. 4 s. 1931
100
Iowa Midland—1st, 8 s ......... 1900
80
N. Y.B. AM.B.—1st con. 5s,g. 1935
do
2d incom e ,5 s .1931
100
Peninsula—1st, conv., 7 s ...1 8 9 8
60
Ohio. A Milwaukee—1st, 7 s .1898 109
Brookl’nAMontauk—1st,68.1911
Car. A Shawt.—1st g. 4 s ....1 9 3 2
80
1st, 5 s ....................................1911 105
Win. A St. P .—2d, 7 s .............1907
St. L. A 8. F.—2d 6s, g., cl. A .1906 1) 1 %
No. Sborei Br.—lsto o n .5 s,g .l9 3 2
Mil. A Mad.—1st, 6 s .............1905
G eneral 5 s ................................ 1931 *91
104
Ott. O. F. A St. P .—1st, 5 s .- 1909 105 I t 7% Louis.Evans.A 8t. L.—C on.5s.1939 27
1st, trust, gold, 5 s................ 1987
70
26
Louis. A N ash.—Cecil. Br. 7 s ..1907 106
Northern 111.—1st, 5 s ......... 1910 105
Kan. City A S.—1st, 6s, g ...l 9 1 6
E. H . A Nash.—1st 6s, g ....l 9 1 9 114%
Ch.R.I.AP—D .M .A f.D .l st 48.1905
Ft. S. A V . B .B g .- l s t , 6 s . . . 1910 *97
Pensacola Division, 6 s......... 1920
60
i st, 2%S................................ 1905
Kansas Midland—1st, 4s, g.1937
112
Extension, 4 s ....................1 9 0 5
St. Louis D ivision, 1st, 6 s ... 1921 120
St. Paul A Duluth—1 s t,5 s ....1 9 3 1
96
2d 3s
1980 *59
2d mortgage 5s.......................1917 ioa% 102 %
Keokuk A Dee M.—1 s t,5 s .. 1923
Nasliv. A Decatur—1 s t,7 s .. 1900
31
St. Paul Minn A M.—1st, 7 s ..1909 i n
113
Chic. 8t. P. A Minn.—1 s t,6 s ...1918 127
S. f.,6s.—S. A N. A la..............1910
2d m ort., 6e...........„..............1 9 0 9 115
126
<n. Paul A S. C.—1st, 6 s....... 1919
10-40, gold, 6 s........................1924
Minneap. Union—1st, 6 s ___1922
Ohio. A W. I n d —1st, s. f . , 68.1919 '107
121
5 0 -year 5s, g .,......................... 1937 95 100
General m ortgage, 6 s ...........1932 '116
Mont. Cen.—1st, guar., 6 s ..1937 Il 2* 113%
Pens. A At.—1st, 6s, g o ld ... 1921 *99% 100
1st guar. g. 5 s . . . ........ ,....1 9 3 7
Cln Ham. A D .—C o n .s.f., 7s. 1905 '115
99%
Collat. trust, 5 s a g .................1931 100
2d, gold, 4%s...........................1937 *95
East. Minn., 1st div. 1st 5 s .1908 ‘9*9 * 1 0 0 %
din. D. A Ir’n—1st, gu. 5s, g. 1941 101 %
Wilmar A 8iouxF.—1st, g ,5 s.l9 3 ■»
Lou.N.Alb.ACh.—G en.m .g.5s.l940
67%
San Fran. A N. P .—1st, g.j 5s. 1919
Clev. Ah. A Col.—Eq. A 2d 6s. 1930
Manhattan B y.—Cons. 4 s....... 1990
96%
Memphis A Chari.—(5s, gold .. 1924
Southern Railway—
C.G.C. A St. L., Cairo div.—4s, 1939
1st
con.
Tenn
lien,
7
s...........1915
Alaoam a Central—1st 6 s ...1 9 1 8
S tL ou .D iv.—lstcoL ts’t4 s,g .l9 9 0
91*4
Spring. ACoLDiv.—1st,g. 4s. 1940
M exican Cent. Consol.—4s, g.1911
A tl. A Char.—1st, pref., 7 s ..1897 102 %
whiteW .Val.Div.—1st,g. 4s. 1940
90
1st, cons, incom e 3s, g.........1939
Incom e, 6 s ...........................1900 10O
Cin.Wab.AM.Div.—Ist,g .4 s.l9 9 1
Mex. International—1st, 4s,g. 1942
Colum. A Green.—1st, 5-68.1916 * 1 0 2 %
E.
mm. V. <te »4a.—Di nc. i s 1930
M
exican
National—1st,
g.,
6s.
1927
95%
Jin. I. St. L. A C.—1st,g.,4s. 1936
110
2d, incom e, 6s, “A” .............. 1917 *28
Oonsol , 6 s ................................ 1920
Rich. A Dan.—Eq. s. f. g. 5 s .l9 o 9
94
2d, incom e, 6s, “ B ” .............1917
f'in.San. AC1.—C on .lst.g.5s, 1928
Deben. 5s, sta m p ed ......... 1927
108
*5
10
86
91*
Vir’a Mid.—Serial aer.A, 6 s. 1906
CLCol. Cin. A Ind.—1st, 7 s,s.f.l8 9 9 112 % 113% Michigan Central—6 s.............. 1909
Consol, sink, fund, 7 s ...........1914 122
Coupon, 5 s............................... 1931 116%
Series B, 6 s .............
1911
Cin.ASpr.—lst,C .C .C .A I.7 s.l9 0 l
Mortgage 4 s .............................1940 100
S eiies C, 6 s........................... 1916
Cleve. Lorain A Wh.—1st, 5 s .1933
104
Bat.C.AStrgis.—Ist,3 s,g .g u .l9 8 9
Series D, 4-5s . . . . . . . . . . . . . 1 9 2 1
Mil. L. S. AW.—Conv. deb., B s.1907 104 107
S eiies E, 5 s . . . ................... 1926
Cleve A M a h .V .—G o ld ,5 s ... 1938
Micb. D iv., 1st, 6s.................. 1924
Series F, 5 s ........................... 1931
D el. Lack. AW .—Mort. 7 s . . . . 1907 130
Syra. Bing. A N. Y.—1st, 7s. 1906 127 131
Ashland Division—1st, 6s ..1 9 2 5
W ash.0. AW.—1st ou r.gu .4s.192i 74
126%
80
Morris A E ssex—1st, 7 s___1914 143 144
Minn. A St. L.—1st, g. 7 s ......... 1927 136 140
Ter.RR. As’n of S t.L .-lst,4% s.l939
Bonds, 7 s ...............................1900 116 117
Iow a E xtension, 1st, 7s....... 1909 *120 123
Texas A N ew Orleans—1st,7 s. 1905
Sabine D ivision, 1st, 6 s ....... 1912 IOj
7e of 18 7 1............................. 1901 115
Southwest E xt.—1st, 7 s....... 1910 118 119
1st, con., guar., 7 s ............. 1915
Consol. 5 s ,g .. . . . . . . . . . . . . . . . 1 9 4 3
142
Pacific E xt.—1st, 6 s .............1921 116%
Warren -2d, 7 s ...................... 1900 113
Minn. A Pac.—1st m ortg., 5 s .1936
Tex. A P ac., E. D.—1st, g. 6s. 1905
Third Avenue (N.Y).—1st 5s, 1937 119 120
.AH.Can.—Pa. L)iv.,coup.7s.l917
Minn.St.P.AS.S.M—1st c.g.4s.1938
Albany A Susq.—1st, gu.,7s. 1906 124 127
Missouri Kansas A Texas—
Tol. A. A. A Cad.—6 s.................1917
65
1st, cons., guar., 6 s ......... 1906
Toledo A. A. JiG ’dT r.—g. 6&.1921 79
Mo.K. AT.of T ex.lst,g u .5 s.g .l9 4 2 76
119
81
Tol. A. A. A Mt. PL—6 s...........1919
Rens. A Bar.—1st, coup., 7s. 1921 143
74
K ansas City A P ., 1 st,4 s ,g .. 1990
60
J en ver City Cable—1st, 6 s . . . 1908
Dal. A Waco—1st. 5s, g u ..,.1 9 4 0 *81
Tol. A. A. A N. M.—5s, g . . . . . . l 9 4 0
T.AO.C.—K an.AM ., Mort. 48.1990
D env. Tramway—Cons. 6s, g .1 9 1 0
Missouri P acific—Trust 5 s .. .1917
80
77
77%
Metropol. Ry.—lst.g u . g .6 s.l9 1 1
Tol. P. A W.—1st 4s,ino.f’d.cou. J uiy
1st coll., 5s, g ........................ 1920
65
D env. A R. G.—Imp., g., o s ...1 9 2 8
90
St L.AI. M .-Ark.Br.,1st, 78.1895 102% 103
Ulster A D el.—1st, eon.,6.,5s. 1926 103 ib i* »
D el. Bay C. A Alp.—1st, g. ,6s . 1913
Union Pacific—1st, 6 s...............1896 lo3%
Mobile A Ohio—1st ex t., 6 s ... 1927
Det.M . AM .—L. g. 3%s,ser.A.1911
24
1st, 6 s ....................................... 1897 103% i b i
St. L. A Cairo—4s, guar....... 1931
uiuth & Iron Range—1st 5S.1937
91
Morgan’s La. A T.—1st, 6 s ....1 9 2 0
1st, 6 s .......................................1899 104
E r i e - I bi, extended, 7 s ...........1897 108%
Collateral Trust, 6 s .............. 1908
1st, 7s.........................................1918 124 131
90
2d, extended, 5 s....................1919 113%
Collateral Trust, 5 s .............. 1907
Nash. Chat. A St. L.—2d, 6 s .. 1901
70
3d, extended, 4 % s..............1923 106*4 108
Kàn^as Pacific—1st 6s, g ...l 8 9 5 104% 105
N. O. A. No. E. - Pr. 1., g., 6 s ..1915 105
4th, extended, 5 s.................. 1920 113% 114% N. Y. Central.—Deb. g. 4 s . . ..1 9 0 5
1st, 6s, g .................................1896 105% 106
104
5 th. extended, 4 s.................. 1928 100 % 102
C. Br. U. V - F . o., 7 s ...........1895
N. J. June—Guar. 1st, 4 s ...1 9 8 6 '100
40
1st, con., g., f’d, 7 s ............... 1920
Atch. Col. A Pac.—1st, 6 s ... 1905
Beech Creek—1st, gold, 4 s ..1936 105
35
Reorg., 1st lien, 6 s . . . . . . . . ..1 9 0 8 i ’o o ’ ib i"
Atcb. J. Co. A W.—1st, 6 s ... 1905
Osw. A Rome—2d, 5s, g.,g u .l9 1 5
.....
a. N. Y. A E.—1st, 7 s ..........1916 '133
U tica A Bl. R iv.—4s, g., gu. 1922 *100
U. P. Lin. A Col.—1 st,g., 5s. 1918
« Y.L.E.AW .—F jd .co u . 5&.1969
N. Y. A Put.—1st, g., 4s. gu.1993
Oreg.S.L. A U J i . ,col.trst.,5s. 1919 »22
24
Col. trust., 6 s............
1922 100 110
Utah A North.—1st, 7 s........ 1908 100
N. Y. N. H. A H .—1st, r e v .48.1903 *ibé"
if. A S. W.—Mortg. 6 s__ 1908 100
Gold, 5 s . . . . ......................1 9 2 6
N. Y. A Northern—1st, g. 5 s .. 1927 *115
Jefferson—1st, gu. g. 5 s __ 1909 100
Utah Southern—Gen., 7s ..1 9 0 9
82
N. Y. Susq. A West.—2d, 4 % s.l937
70
Coal A BR.—6e............ .......... 1922
Extern, 1st, 7 s .................... 1909
Gen. m ort., 5s, g .................. 1940
96
Dock A lm p t .,ls t 6 s , cur’cy.1913 107%
Valley R’y Co. of O.—Con. 6s. 1921
N. Y. Tex. A Mex.—Isi,4 s,g u .l9 1 2
E reka Springs—1st, g., 6 s ...1 9 3 3
Wabash—Debenture, Ser. A ..1939 .......
North’n Pacific—Divid’d scrip ex t.
25
E ans. A T .H .—1st,c o n s.,6 s..1921 ibo" 106
Debenture, Series B ......... ..1 9 3 9
Jam es River Val.—1st, 3 s ...1936
"22%
, st, general, g., 5 s ................1942
Det. <schic. E xt. 1st, 5s, g .. 1940
Spokane A Pal.—1st, 6 s....... 1936
77%
96
Mt. \ ernon 1st 6 s ................ 1923
St.Paul A N. P .—Gen., 6 s ..1923 116
No Missouri—1st, 7 s ...........1895 102%
E.AT.H .—8u l.C o.B r.lst,g.,5s.l930
6t Li.K.C.AN.—R.E.ARR.7S.1895 lOi.% 101%
HelenaABedM ’n—lst,g ., 6 s .1937
St. Charles Br’ge—1 st,6 s... 1908
Ev.ARich.—Istg en .5 s,g .g u .l9 3 1
DuluthAManitoba—ls t,g .6 sl9 3 6 *77%
100
Evans. A Indian.—1st, c o n s..1926
Dul.AMan Dak.D iv.—Ist6 s.l9 3 7 *77%
W est Va. C. A P itts.—1st, 6s. 1911
Wheel.AL.E.—1st. 5s, g o ld ...1926
Cceur d’Alene—1st, 6s, gold. 1916
F lin t A P. Mara.—Mort., 6 s. ..1 9 2 0 107 111
95
90
Extension A Im p, g., 5s___ 19; 0
80
Gen. ls t ,g ., 6 s............... ....1 9 3 8
90
1st con. gold, 5 s .................... 1939
92 .
88
Port Huron—1st, 5 s .. . . . . . . 1 9 3 9
Wis. Cent, incom e 5 s ............... 1937
Oen t. Washin gton—Ist.« ..bs. 1938
7
IO
No price Friday; these are tn e »«»test quotations made this week. F o r i l L c e i l a n e o u « a u d o a u . t e a 3 u a a > . —se e 3a page pr eeding.




*90

A p r il 6, I8 i5 .j

THE CHRONICLE
fr a r je s im je til
AND

Roads.

601
L atest E arn in gs Reported.
WeekorMol 1894-5. , 1893-4.

| Jan . 1 to L a test Oats.
1894-5.

1893-4.

$
gt
395,510
384.014
85,099
82.054
7,869
12.054
21.301
17,870
509,781
495,993
3,898.084 4,122,665
562,585
639,320
190,137
205,505

Gr. Rap. A Ind. 3d w k Mch
40.710
39,167
Cin. R.AFtiW 3d wk Moh
7,854
7,834
Traverse City. 3d w k Mch
744
802
Mus. G. R. A I. 3d wk Mch
2,005
2,100
Tot. all lines 3«1 wk Moh
51,313
49,903
The I nv estors ’ S u pplem en t , a pam phlet o f 160 pages, con­ Grand
T run k ... Wk Mar.30 333,556 329,189
tains extended tables of the Stocks and Bonds o f Railroads
Chic. A Gr. Tr, Wk Moh23
52,116
58,535
Det.Gr.H. A M. Wk Mch23
19,938
20,959
and other Companies, with remarks and statistics concerning G reat North’n—
St. P. M. A M. F eb ru ary. 683,973 658,106 1,373,884 1,330,400
the income, financial status, etc., o f each Company. I t is
E ast of Minn.. F ebruary.
95,136
62,326
181,306
126,192
published quarterly on the last Saturday o f January, A pril,
M ontana Cent. F ebruary. 110,464 117,389
216,322
218,356
Tot.
system
.
F
eb
ru
ary.
889,573
837,821
July and October.
1,771,512 1,674,948
Hoos.Tun.AWil. F eb ru ary.
2,775
2,094
6,158
4,280
The S t r e e t R a ilw a y S u pplem en t is published quarterly Hous.E.AW.Tex F eb ru ary. 38.000
29,710
88.301
75,177
Hum est’nAShen F eb ru ary.
8,200
10,329
17.400
19,771
on the last Saturday of February, May, August and November. Illinois Central. F eb ru ary. 1,411,804 1.428,810 3,020,960
2,914,846
Ind. Dec.AWest. 3d wk Mch
8,362
5,993
101,450
Both S u pplem en ts are furnished without extra charge to In.
72,441
A Gt. North’n 4thwkMch 103,407
90,30d
971,717
761.900
all regular subscribers o f the C h r o n ic le .
i Interoo. (Mex.) Wk Moh 23
41,645
50,674
555,269
563,942
Iow a Central.... 4thwkM cb
36,384
45,537
367,783
457,132
I he General Quotations o f Stocks and Bonds, occupying six Iron
R a ilw a y ... February
3,468
3,590
7,587
7,145
Jaok.
T.
A
K.
W
February
46,739 102,175
pages of the C hronicle are published on the t h ir d S a tu r ­
119,660
197,807
Jam est’n AL. E January..
2,622
2,787
2,622
2,787
d a y o f each month.
K anawha A Mich 4tnwkM ch
12.451
9,602
88,132
79,511
K.C.F.Scott AM. 3d wk Mch
72,631
86,652
929,723 1,036,349
K.C. Mem. A Bir. 3d wk Mch
17,476
14.813
218.557
250,510
Kan.C. N. W .... February
17,958
28,471
36,203
56,762
Kan.C.&Beat. February
395
1,063
796
2,141
The following table shows the gross earnings of United K .
C. Pitts.
A GkM
.. ch
14,007
tthw
8,766
118,778
71,744
States railroads (and also a few Mexican and Canadian roads) ivan.C. Sub. Belt tthwkM ch
5,167
5.052
45.047
44,735
for the latest period reported. The statement includes every Keokuk A West. 3d wkM oh
6,935
7.645
74,307
82.930
Erie All. A So. February
6,452
5,499
14,214
9,894
road from which regular weekly or monthly returns can be L.
L. Erie A W est.. 4th wk Mch
93,150
38,666
824,411
739,940
obtained, The first two columns of figures give the gross Lehigh A H u d .. February
31,825
26,123
69,382
60,636
earnings for the latest week or month, and the last two col­ Long Island....... February
185.098 199,752
403,955
425,337
Ang. Term. February
14,916
12,079
30,926
umns the earnings for the calendar year from January l to Los.
23,460
Louis.Ev.ASt.L. 4thwkM ch
39,341
42.974
3 15,854
355,491
and including such latest week or month.
Louisv. A N ashv 4th wk Mch 526,295 550,669 4,563,302 4,794,226
Louis. N.A.ACh 4th wk Mch
84,53
76,954
655,435
573,567
L atest E arn in gs Reported.
Jan . 1 to L atest Date. Lou. St.L. A Tex. 4 th wk Mch
9,994
11,718
89,299
90,400
Roads.
Macon A B irm .. February
5,979
7,409
12.401
15,186
Week or Mo 1895.
1894.
1895.
1894.
M anistique......... February
8,792
3,004
19,062
9,173
Memphis A Chas. 3d wk Mch
17,394
19,683
227,994
283,505
gt
{Mexican C en t.. tthwkM ch 278,618 206,326 2,317,105 2,119,037
$
A d iro n d a ck ..... January,
14,504
13,973
14,504
13,973 M exican Inter’1 December
212,310 211,763 2,088,441 2,050,934
Ala. M idland... Jan u ary...
47,040
57,131
47.010
57,131 iM ex. N ational. 4th wk Moh 124,578
99,661 1,055,321 1,015,377
A llegheny Val.. February . 169,059 152,214
345.723
307,063 Mex. Nortnern.. January.
42,108
51,950
42,108
51,950
Ark. M idland... January...
9,023
6,671
9.023
IM
exlcan
R’way
6,671
71,872
Wk
Mch23
65,238
798,706
733,118
Atoh. T. A S. Fe. 3d wk Moh 529,518 505,730 5,966.442 5,817,428 Mexican S o .......
9.000
12,506
95,590
103,536
St. L. A San F. 3d wk Moh 104,637 111,696 1,195,932 1,242,131 Minneap.A St.L. 2d wk Moh
46,921
4 th wkMoh
45.559
374,064
391,531
A tlantic A Pac 3d w k Mch
74,726
724,913
62,385
634.601 Mo. Kan. A T ex. 4th wk Mch 291,879 272,225 2,678,811 2,095,507
Col. Midland. 3d wk Mch
30,809
28,632
309,476
Mo.Pac.
A
lron
M
324,676
700.000
4th wk Mch
685.000 5,066,373 5,288,870
Agg. to ta l.. 3d w k Mch 739,690 708,443 8,196,763 8,018,836
Central Br’ch. tthw kM ch
17.000
27,000
132,895
206,267
A tlanta A W. P Jan u ary...
41,025
49.004
41,025
Total............ 4th wk Mch 717.000 712.000 5,199,268 5,495,139
49,004
Atlan. A Danv. 4th wk Moh
12,899
9,017
114,975
Mobile
A
Birm
..
112,483
3d
wk
Moh
5,099
4,637
62,399
62,484
A ustin A N’west November.
22,498
31,019
230,740
241.602 Mobile A O hio.. March....... 282,548 281,322
784,949
831.900
B. AO. East Lines F eb ru ary. 1,049,978 1,092,369 2,279,196 2,321,143
Mont.AMex.Glf.
95.000
F
eb
ru
ary.
84,245
200,000
186,147
W estern Lines F eb ru ary. 383,612 305,538
852,829
617,933 Nash.C h.A St.L. F eb ru ary. 340,832 357,511
723,636
769,286
T o ta l........... F eb ru ary. 1,433,590 1,397,907 3,132.025
Nevada Central. Jan u ary...
1,456
2,827
1,456
2,827
Bal.AO. Sou’w. 4thwkM!cb 165,811 177,^80 1,533,950 2,939,076
N.
Jersey
A
N
.
Y.
1,552,845
F eb ru ary.
21,010
19,435
45,419
42,800
Bath A Ham’ndi Jan u ary...
1,635
1.635
1,788
1.788 NewO rl. A S o’n. F eb ru ary.
5.195
9,657
13,721
19,424
Blr. A A tla n tic.. F eb ru ary.
1,116
1,862
2,210
N.
Y.
C.
A
H
.
R
..
/
3,464
F eb ru a ry . 2,966,689 3,003,991 6,117,398 6,175,088
Brooklyn E lev. 4th wk Moh
54,036
50,873
592,267
443.371 N. Y. L. E. A W.. F eb ru ary. 1.766,438 1,582,044 3,653,829 3,370,077
Bruns w’k k West January..
44,614
46,463
44,614
48,463 N. Y. Pa. A Ohio. Jan u ary... 465,244 404,390
465,244
404,390
Buff. Koch. A P itt tth w k M ch
85,183
7 2 ,1 8 5
6 7 s .186
651,879 N. Y. Ont. A W.. 4thwkM cli
92,346
94,709
796,782
769,327
Bur. C. Rap. A N . 3d wk Moh
70,932
76,252
780,51'
828,981 N. Y. Susq.AW . F eb ru ary. 157,984 120,798
358,841
258,685
Camden A A tl.. F eb ru ary.
36,625
37,548
80,616
78,180 Norf. A South’n Jan u ary...
35,426
36,462
35,426
36,462
CauadiauPacific 4th wk Mcli 385.000 433.000
3,352,068 3,927,126 Norfolk A West. 4thwkM eh 209,266 174,356 2,305,147 2,185,577
Car. M idland___ F eb ru ary.
2,202
5,067
5,328
9.797 North’n Centra] F eb ru ary. 448.888 398,570
939,478
835,640
Cent, of Georgia Jan u ary... 424.253 563,865
424,253
563,865 North’n Paoitto. 3d wk Mch 299,724 264,003 2,702,688 2,669,985
Central of N .J .. F eb ru ary. 793,735 764,661 1,646,168 1,658,774
A W est. February
1,470
3,195
3,280
6,114
Central Pacific.. November. 1,149,338 1,146,443 12,106,051 13,340,486 Ooonee
Ohio River.
tthw kM ch
12,483
13,043
143,397
142,361
Gharlest’nASav. Jan u ary...
53,241
67,247
53,241
Ohio
Riv.AChas
67,247
F eb ru ary.
12,576
16,689
26,370
30,648
Char.Sum. A No. Jan u ary...
5,680
13,145
5,680
13.145 Ohio Southern. 4thwkM ch
19,648
190,769
22,924
157,823
Cheraw.ADarL. J an u ary,..
7,007
8,421
7,007
8,421 Omaha A St. L .. January...
21,625
34,324
21,625
34,324
Ches. A O h io .... 4th wk Mch 284,102 229,068 2.234,787
Oregon
Imp.
Co.
2,163,166
F
eb
ru
ary.
235.673
261,424
498,249
542,874
Ches.O.ASo.W .. J an u ary... 176,930 172,285
176.930
172,285 Ow.F.Rou.AG.R December.
3,557
4,507
Chio. Bur. A No. F eb ru ary. 130.058 120,371
250,363
260,521 P en nsylvan ia... F eb ru ary. 4,419,634 4,002,320 9,097,905 8,1.62,149
Chic. Bur. A Q .. F eb ru ary. 2,060,550 2,427,892 4,315,076
5,064,872 PeoriaDeo.AEv. 4thwkjMch
22,963
226,862
23,099
198,981
Ohio. A E ast. IP* 4th wk Mcli
64,177
78,074
901,585
873,021
P eter sb u rg ...... F eb ru ary.
37,218
42,589
75,957
85,851
Chicago A Erie. F eb ru ary. 183,191 160,174
366,653
853,006 Phila. A E r ie ... Jan u ary... 249.160 234,986
249,160
234,986
Chiu. Gt. West’n . 3d wk Moh
66,844
81,024
697,78
765.603 Phila. A Read’g. F eb ru ary. 1,444,842 1,279,617 3,013,149 2.673,912
Ohio.Mil. A st.P . 4th wk Moh 731,955 862,953 6,078.137
6,777,405
Coal A ir. C o... F eb ru ary. 1,975,226 1,480,069 3,868,184 3,064,451
Ohio. A N’thw ’n . February J 1,892,618 2,182,682 3,827,178 4,351,997
Total both Cos, F eb ru ary. 3,420,068 2,759,686 6,881,333 5,738,363
Chio.Peo.ASt.L. 4thwkM ch
16,295
13,806
213,135
177,776 P itts. Mar. A Ch. F eb ru ary.
3,327
6,529
2,527
5,362
Ohlo.R’k l . A P ..i M a rch .... 1,197,830 1,511,674 3,333,249 4,058,967
Pitt.8hen.AL.E. F eb ru ary.
33,685
21,248
61,708
53,422
Cliio.St.P.M.AO. Fern uary
443.585 550,958
907,612 1,143,963 Pittsb. A W est.. 4th wkMoh
44,391
35,464
314,873
277,478
Ohio. AW . Mich 3d wk Mob
33,959
30,801
325.365
315,162
P itts.C l.A T oi. tthw kM ch
22,277
18,995
175.389
143,075
Cin.Ga. A Porta. February
4,095
4,277
8,572
8,931
Pitts. Pa. A P. tthw kM ch
7.996
6,298
52,471
55,391
Cln.A K ent. Sou, January..
905
412
905
412
Total system.. 4thwkM ch
74,664
553,357
60,757
485,459
Cin. J aok.A Mac, tthw kM eh
14,081
18,438
144,499
148,101 Pitt. Young.&A. F eb ru ary.
81,340
54,596
157,363
107,301
Cin. N.O. A T .P . January..
270.000 297.000
270.000
297.000 Quincy O.AK.O. F eb ru ary.
16,881
15,475
35.720
33,793
Ala. Gt. South. January..
133.000 127.000
133.000
127.000 Rich.Fr’ksb.AP. Jan u ary...
54.198
56,407
54,198
56,407
N. OrL A N. E, January..
122.000 111.000
122.000
111.000 Rich. A Petersb. F eb ru ary.
22,212
25,150
45,929
52,0
¿4
Ala. A Vioksb. January..
44.000
54.000
44.000
54.000
Rio
Gr.
South’n
4th
wk
Mch
8,684
8,390
84,954
78,691
Vicks. Sh. A P . January..
50.000
54.000
50.000
54.000 Rio Gr. West’n .. 3d wk Moh
38,600
31,400
376.390
360,801
Erlanger Syst. January..
619,000 643,000
619,000
643,000 Sag.TuscolaAH. F eb ru ary.
9,260
9,461
17,9 10
Cin. Ports. A V. February
16,816
18,514
14,144
36,020
28.146 8ag.Val. A St. L. F eb ru ary.
6,051
6.203
12.324
12,354
Clev. AkronACo. 3d wk Mch
18,644
16,741
185,326
186,380
St.
L.
A.
A
T.
H.
3d
wk
Mch
26,150
26,190
289,911
304,412
Clev. Can. A S o.. 3d wk Mch
12,071
8,290
128.930
102,835 8t.L.K en’etASo. F eb ru ary.
2,457
2,103
5,733
5,161
OLCin.Ch. A St. L 3d wk Mch 253,467 226,249 2,769,850 2,519,474
St. L. South w’rn. 4th wkMoh 131,600 107,600 1,220,087 1,068.537
Peo. A East’n February
127,721 114,643
260,6 78
227,159 8t.PaulA D uPtb 3d wk Mch
23.988
22,058
01. Lor. A Wheel 4thwkM cn
30,137
31,519
257,252
222,628 San Ant. ce A .P Jan u ary... 194,509 127,037
194,509
127.037
Ool. H . V .A T oi March
175,130 219,507
558,469
577,289 S.Fran.AN.Pac. 2d wk Mcli
11,645
10,709
110,048
Ool. Sand’y A H 4th wk Mch
I t 0,003
23,113
18,749
193,214
129,580 Sav. Am. A Mon. F eb ru ary.
33,507
727462 -----74,864
34,557
Colusa A Lake . F eb ru ary.
1,300
1,617
2,300
2,917 Sav.Fia. A West. Jan u ary... 319,124 382,627
319.124
Crystal................ F eb ru ary.
382 627
748
1,052
1,388
1,644 8her.Hhrev.A So 3d wk Mcli
6,18b
4.066
77,287
70,947
Ouinb’l’d Valley January,
58,633
55,570
58,633
55,570 Silverton............ December.
5,076
5,034
53,597
68,393
D env. A Rio Gr tthw kM ch 138,300 152,£
0 o 1 ,4 90,-67 1,488,754 So. Pacific Co.—
D et.Lans’gA No, 3d wk Mch
21,373
20,530
221,696
209,639
GaLHar.AS.A November. 436,494 370,711 3,850,355 3,880.716
Duluth&.S.AAtl, 3d wk Mch
33,614
27,376
349,430
279,543
Louis’a West. November.
93,806 103,252
895,593 1,016,723
E lgin. J ol. A E ast F ebruary.
84,741
90,551
165,433
184,728
Morgan’sLAT. November. 723,34» 747,988 5,324,697 5,063.311
Eureka Springs December.
9,215
7,175
73,016
78,405
N.Y.T. A Mex. November.
29,497
239,827
28,695
241.651
Evans. A Ind’plis 3d wk Moh
5,651
6,269
58,006
63,403
Tex. A N . O rl.. November
155,991 154,464 1,417,689 1,626,935
E vans. A Rich.. 3d wk Mch
2,066
2.528
17,778
17,089
Atlantic sys.6. Jan u ary... 1,438,836 1,139,401 1,438,836 1,139,401
E vansv. A T. H . 3d wk Mch
18,707
21,833
219,641
234,217
Pacific system January... 2,143,082 2,261,32
2,149,082 32,261.328
F indlay F t W AW J an u ary...
5,448
4,658
5,448
4,658
Total of a ll.. J anuary... 3,586,918 3,400,729 3,586,918 2,400,729
Fitchburg......... F eb ru ary. 479.585 417,737
992,913
932,449
So.
Pac. of Cal November. 805,215 830,579 8,353,575 9,91 0,940
F lin t A P. Marq. 3d wk Moh
53,150
56,605
496.366
561,629
So.Pae.of Ariz November. 203,525 181,763 1,914,285 1,875,445
Fld.Cnt. A Penin 1st wk Jan
53,440
59,710
53,440
59,710
So.Pao.of N.M, November
83,290
80.45 v
848.163
870,278
Ft.W . A Rio Gr. 3d wk Mch
7,323
4,718
95,496
54,117 Southern R y ... 4th wkMoh 457,190 505.359 4,242,3641 4,523,092
Gads. A Att. U. F eb ru ary.
533
482
1,156
1,028
Staten
Lsl.
R.
T.
J anuary...
55,797
64,163!
04,163
55.797
Georgia RR........ 3d wk Mcli
28,442
25,437
282,072
330,010 atonyCi.«s<jMt.. J anuary...
1,180
1, o9 7 i
1,397
1.180
Ga. Car’la A No February .
55.551
65,254
133,979 Summit Branch. F eb ru ary.
121,976
62,026
90 240
194
.4
-8
139,512
Geo. so . A F la .. F eb ru ary.
57,579
69,901
128,315
160,613
Lykens
Valley
42,979
F
eb
ru
ary.
152,593
67,815
108,862
Gulf A Ohloavo. IFebruary .
2.694
3.289
6.871
6.804
Tofc’l both Oo’s F eb ru ary. 158.' 55 105 005
347.0-H
245.374

R a ilr o a d

RAILROAD EARNINGS.




THE CHRONICLE.

602
Roads.
Texas A Pacific.
T8X.S.VaI&N W
Tol.A.A.ANo.M.
Tol. AOMo Cent.
Tol. P . A W est..
T ol. St. L. A K. G.
U lster A D e l—
U nion Pacific—
Un. Pac. R R -.
O r.S .L .A U .N
8t.Jos.AGd.Is.

L atest E arn ings Reported.

Jan. 1 to L atest Date.
1895.

Week or Mo

1895.

1894.

4th wk Mch
F eb ru ary.
4thw k Mch
4th wk Mch
3d wk Moll
4thwkM ch
Jan u ary...

193,970
2,882
57,025
36,096
20,088
52,237
22,633

171,667 1,699,562
7,363
2,971
240,295
34,492
395,431
42,311
211,787
17,984
364,488
49,504
22,633
23,814

1894.
1,572,991
6,911
259,959
346,201
194,970
307,489
23,814

970,520 1,039,116
Jan u ary... 970,520 1,039,116
344,0 2
330,463
Jan u ary... 830,463 344,012
67,444
48,247
67,444
48,247
Jan u ary...
11,538
6,446
11,538
6,446
KamC.AOm. J an u ary...
219,570
144,663
17,600
14.9C0
Tot.3t.J.AG .I. 3d wk Mch
206,267
132,895
27,000
17,000
Oent.Br......... a 4thwkM ch
29,598
A ch .C ol.A P .) January..
20,601
29,598
20,601
Ach.J.C.AW S
25,897
25,379
25,897
25,379
Montana U n .. January..
1,712,421
Gr’d total.* c Jan u ary... 1,516,937 1,712,421 1,516,937
598,790
609,829
57,795
60,910
U .P ao. D. AG . 3d wk Mch
240,462
229,234
23,593
20,131
Ft.W ’th& D.C. 3d wk Mch
2,775,181
2,76-^,952
341,840
322,245
4th
wk
Mch
W abash..............
16,806
23,388
16,806
23,388
Waco A Northw. Jan u ary...
176.430
165,685
83,316
81,357
W est Jersey....... F eb ru ary.
142,054
137,978
70,255
67,859
W.V.Cen. A P itts F eb ru ary.
408,739
368,143
30,678
25,820
West Va. A P itts December.
4 6,758
4o,880
46,758
40,880
W estern of Ala.. Jan u ary...
140.274
164,179
67,7491
78,071
February
.
West. Maryland.
582,287
63,2 0 0 1 607,217
65,200
West. N.Y. A Pa. 3d wk Mch
275,6*2
298,463
35,8 <o!
31,280
Wheel. A L. Brie 4th wk Mch
14.471
10,804
6,624
4,896
Wrightsv. & Ten. F eb ru ary.
Figures given do not include Oregon Ry. A Nav., Urn Pa°G ulf, Denver Leadville A Gunnison and Leavenworth Topeka A South
w0gti6m •
a These figures include results on leased lines.
b Inoludes earnings from ferries, etc., aot given separately. .1 M exi­
ca n currency, c Includes only half of lines in w hich U nion Pacific h a s
a h alf interest.

[VOL. I X

For the month of March 53 roads (all that have furnished
statements for the full month as yet) show aggregate results
as follows :
1895.

Month o f March.

1894.

9
9
Gross earnings (53 roads) 20,784,475 20,998,857

Decrease.

Per Gent.

9
214,382

1*02

It will be seen there is a loss on the roads reporting in the
amount of $214,382, or 1’02 per cent.
The following will furnish a comparison of the weekly
results for a series of weeks past.
WEEKLY GROSS EARNINGS.

Period a n d num ber o f
roads included.
N ov.—1st w eek (79 r’ds).
“
2d w eek (79 r’ds).
“
3d w eek (79r’ds).
“
4th week (74 r’ds).
D ec.—1 st w eek (78 r’ds).
“
2d week (74r’ds).
“
3d w eek (79 r’ds).
“
4 th w eek (31 r’ds).

1894.
$
7,636,666
7,877,054
7,890,940
9,755,319
7,439,957
7,043,464
7,220,731
8,335,340
1895.
J a n .—1st w eek (75 r’ds). 5,733,322
“
2d week (73 r’ds). 5.873,650
“
3d week (76 r’ds). 6,365,047
“
4th week (83 r’ds). 8,924,252
Feb.— 1st w eek ( 79 r’ds). 5,813,463
«
2d w eek (79 r’ds). 5.577,446
“
3d week (3 ’ r’ds). 6,352,449
“ 4th week (87 r’ds). 7,263,997
Mch.—1st week (83 r’ds). 6,585,544
“ 2d week (82 r’ds). 6,732,462
“ 3d w eek (87 r’ds). 6,853,151
“ 4th w eek (45 r’ds). 6.414,635

1893.
A
8,059,471
8,051,008
7,887,744
9,753,033
7,260,753
7,069,189
7,149,219
9,209,902
1894.
5,826.559
5,989,159
6,219,779
8,667,273
6,143,809
6,050,061
6,296,813
6,950,030
6,564,034
6,644,509
6,761,287
6,428,944

—— Ohanges.A. mount.
P. et.
$
372,805 Deo. 4- 6 2
173,954 Deo. 2 1 8
0-04
3,196 Ino.
0-02
2,2 <6 Inc.
2-47
179,204 Inc.
20,725 Dec. 0- 29
100
71,512 Ino.
374,062 Deo. 4*06
93,237 Deo.
115,509 Dec.
115.263 Ino.
256,979 Inc.
330,346 Deo.
472,615 Deo.
55,636 Inc.
313,967 Inc.
21,510 Inc.
87,953 Inc.
91,864 Ino.
14.309 Deo.

1- 60
122-97
57-81
0’88
4-52
01*32
10-22

Net Earnings Monthly to Latest Dates.—The table fol­
Latest dross Earnings by Weeks.—The latest weekly earn­ lowing shows the net earnings reported this week. A full
ings in the foregoing are separately summed up as follows :
detailed statement, including all roads from which monthly
For the fourth week of March our preliminary statement returns can be obtained, is given once a month in these
columns, and the latest statement of this kind w ill be found
overs 45 roadp, and shows 0-22 per cent loss in the aggre.
in the C h r o n ic le of March 28,1895. The next w ill appear
in the issue of April 20, 1895.
,---- Gross E arnings.----->. -Net Earnings.—
1894.
1895.
1895.
1894.
9
Roads.
$
$
9
375,737
9
408,092
9
$
At. T. A 8. F e___b ..F eb . 2,094,390 2,042,810
3,882
893,798
9,017
920,202
12,899
Jan. 1 to Feb. 2 8 ___ 4,363,686 4,277,740
A tlantic A D an ville.......
12,169
177,980
165,811
Bait. A Ohio Soutnw est.
Ju ly 1 to Feb. 2 8 ....1 9 ,6 5 4 ,3 7 2 22,310,146 4.936,869 7 ,390,159
3,163
50,873
54,036
Brooklyn E lev a ted ..........
147,928
139,360
8t.
L. A San Fr. ,b ..F eb .
413,404
437,675
12,99»
72,185
85,18a
Buffalo Roch. & P ittsb’g.
303,683
307,236
Jan. 1 to Feb. 2 8 . . . .
866,623
899,412
48,000
........
433,000
385,000
Canadian P acific..............
1,821,593 1,699,750
Ju
ly
1
to
Feb.
2
3
.
.
.
.
4,185,503
4,325,567
55,034
229,068
284,102
Chesapeake A Ohio------18,392 d ef.33,173
13,897
___. . . .
78,074
A tlantic A P ac. .b .F ^ b .
279,702
220,998
64,177
Chicago & East. Illinois
18,220 def.9P,999
130,998
. . . . __
Jan. 1 to Feb. 2 8 . . . .
512.140
438,984
862,953
731,955
Chicago Milw. & St. Paul
20,5 0 3
321,776
2,489
13,806
Ju
ly
1
to
Feb.
2
8
.
.
.
.
2,144,607
2,003,575
16,295
Chic. Peoria A St. Louis.
4,357
18,438
16,061
29,427
14,081
Uin. Jackson A Maokinaw
Colorado Midl’d .b ..F eb .
111,620
109,233
1,382
31,519
33,062
30,137
59,578
Clev. Lorain & Wheel’g ..
Jan. 1 to Feb. 2 8 . . . .
223,614
246.203
4,364
18,749
118,131
23,113
179,381
Col. Sand’sky & Hocking.
Ju
ly
1
to
Feb.
2
8
....
1,029,937
985,617
Ì3.90Ó
152,200
138,300
Denver & Rio G rande....
506,553
595,271
Aggregate t o ta l. b . Feb. 2,399,116 2,910,716
4,367
329,189
333,556
Grand Trunk of Canada..
ja n . 1 to Feb. 2 8 ___ 5,966.063 5,862,339 1,305,236 1,133,544
. . . . . ..
13,104
90,303
103.407
Intern’l & Gt. North’n . . .
9,228,543
7,262.619
July
1
to
Feb.
2
8
....2
7
,0
1
4
,4
1
9
29,624,905
9,153
45,537
36,384
Iow a C en tral... . . . . . . . . .
68,523
23,229
2,849
9.602
Bufi.Roch. A P itts.. b . Feb. 181,734
209,391
12,451
Kanawha A M ichigan.. .
139,465
8«,611
........
5,241
8,76b
Jan. 1 to Feb. 2 8 . . . .
419,942
428,105
14,007
Wan. City PittSb. A Gulf
672.015
650.919
115
5,052
Ju ly 1 to Feb. 2 8 . . . . 2.070,265 2,165.041
5,167
4,484
88,666
12,145
93.150
6,505
Lake Erie A W estern.
A W. M ich......... Feb.
116,028
116,648
3,633 Chic.Jan.
42,974
39,341
8,921 def.5,158
L ouisv.E vansv. A St. L ..
1 to Feb. 2 8 . . . .
230,030
225,958
24,374
.......
550.669
526,295
Louisville A N a sh ville...
8,344
4,548
Cin. Jack. A Mack. b.. Feb.
43,946
51,028
7,577
76,954
84,531
Louis. N. Albany A Chic
11,324
9,714
Jan. 1 to Feb. 28 . . .
96,432
94,82a
" i',724
.........
11,71»
9,994
L ou isville St. L. A Texas
55,470
77.289
July
1
to
Feb.
2
8
.
.
.
.
441,648
421,154
72,322
206,326
278,648
M exican Central. . . . . . . . .
188,432
199,014
99,661
24,917
Den. A R. G rande.b..Feb.
493,152
482.146
124,578
M exican National............
385,202
414.884
1,362 .................
45,559
Jan. 1 to Feb. 2 8 .... 1,024,667 1,012,754
46,921
1,746,725
2,018,031
19,65i
272,225
291.879
July
1
to
Ftb.
2
8
___
4,732,207
4,436,230
Mo. K ansas A T exas—
15,000
685,000
1,361
700,000
11,160
Mo. Pacific A Ir o n M t...
Lans. A N o r .a ..F e b .
80,796
'lb, 190
10,000 Det. Jan.
27,000
17,000
17,733 def.2,001
Central Branch............
1 to Feb. 2 8 ___
163.245
150,673
2,363
94,709
92,316
63,053
70.289
---------'...........
Laclede Gas-L. C o ... Mar.
34,910
174,356
209,266
Norfolk A Western.
215,462
229,760
" *'560
Jan. 1 to Mar. 3 1 . . . ............................................
13,043
12,483
Ohio R iver................
34.466
112,506
3,276
22,924
Louisv.Ev.
A
St.
L
.b
.
Jan.
i
100,553
116,097
19,648
Ohio Southern.........
136 Louisv. A N a sh v .b .-F e b . 1,364,940 1,481,127
........
596,452
23,099
22,963
453,460
13,907
60,757
6 4 .2 2 8
74.664
Pittsburg A W estern...
Jan. 1 to Feb. 2 8 . . . . 2,967,042 3.135.737 1,073,351 1,2
294
8.39C
8,684
Rio Grande Southern..
Ju ly 1 to Feb. 2 8 ....1 3 ,1 5 3 ,9 2 0 12,891,660 5,179,989 5,138,802
24,000
107,601
. 131,600
8t. Louis Southwestern
240,794
294,233
708,564
689,187
48,169 M exican Central.......Feb.
505,359
457,190
Southern R ailw ay........
485,361
649,654
Jan. 1 to Feb. 2 8 . . . . 1,501,608 1,406,402
22,303
171,667
Texas A Pacific--------§132,575 §121,751
7,467
34,492
Mexican
N
a
tio
n
a
l....F
eb
.
326,468
320,572
27,025
Tol.Ann Arbor AN.Mieh
§262,008
§290,918
6,215
42.31)
36.096
Jan. 1 to Feb. 2 8 ___
685,605
665,998
Toledo A Ohio C entral..
2,733
49,50i
52,237
"338,829 *302,572
Toledo St. L. A Kan. C.
. E . A West’n -.-F eb . 1,766,438 1,582,044
19,595 N .Y .L
.............
34 1 ,84C
322 245
705,216 *59 7,905
W abash.......................... Jan.
1
to
Feb.
2
8
.
.
.
.
3,653,829
^3,370,077
4,010
.............
35,831
31.82C
Oct' 1 to Feb. 2 8 .'/.'.lo ’,383/743 10,882,009 *2,715,594 *3,069,557
48,789
26,023
223,862
365,378 V Y. Ont. A W est.a .. Feb. 223,602
351,069
. 6,414,63; 6,428,944
Total (45 roads).
106,060
84,128
j a m 1 to Feb. 2 8 . . . .
505,327
480,961
14,309
751,046
704,416
...........
...........
Net decrease (0 22 p. e.).......................
Ju ly 1 to Feb. 2 8 . . . . 2,495,484 2,576,120
42,610
1148,304
120,798
For the third week of March our final statement covers N . Y. Sus. A W est.b...Feb. ||157,984
98,047
130,666
Jan. 1 to Feb. 2 8 . . . .
358,841
2o8,685
87 roads, and shows 1-36 per cent gain in the aggregate.
35,449
10,723
Oregon Imp. C o .a ....F eb . 235,673
261,424
71,546
31,666
Jan. I t o Feb. 2 8 . . . .
498,249
542,874
93,090
53,559
Deo. 1 to Feb. 2 8 . . . .
775,445
823,851
Increase. Decrease.
1894.
1895.
3d week of March.
27,266
35,812
Rio Grande W est.b ..F eb . 134,837
130,731
60,603
74,807
9
9
9
Jan. 1 to Feb. 2 8 . . . .
280,590
272,601
9
519,798
246,805
470,239
337,012
Ju ly 1 to Feb. 2 8 . . . . 1,425,882 1,415,560
Previously rep’d (73 r’ds) 6,341.181 6,250,974
5,320
76,252
70,932
1,588
912
Burl. Ced. Rap. A North.
6,051
6,203
6,419 S ag. Valley A St. L ...F eb .
58,535
2,856
52,116
2,195
Chicago A Grand Trunx.
Jan. 1 to Feb. 2 8 . . . .
12,324
12,354
6,841
13,806
20,64
Chic. Peoria A St. Louis.
36,867
128,272
445,087
365,846
.......
1,021 St. Louis Southw’n ... Jan.
20,959
19,938
D et. Gr. H av. A M ilw—
653.953
Ju ly 1 to Jan. 3 1 . . . . 3,325,840 3,011,487 1,062,003
........
6,238
27,376
33,614
Duluth So. Shore A A tl.
17,050
9,029 St. P aul A D u lu th .b .. Feb.
17,471
50,674
41,645
88,082
84,801
Interoceanio (Mex.).........
31,803
23,319
2,663
14,813
17,476
Jan. 1 to Feb. 2 8 - ...
170,790 174,960
Kan. City Mem. A B irm ..
339,974
308,704
710
7,645
6,935
985,892 1,Obi,269
Ju ly 1 to Feb. 2 8 __
Keokuk A W estern...........
1,006
438,320
8,147
7,141
388,846
L ouisville St. L. A T exas.
2,289 Southern R ailw ay.a.F eb . 1,256,458 1,448,292
19,683
884,926
17,394
841,402
Memphis A Charleston..
Jan.
1
to
Feb.
2
8
.
.
.
.
2,752,755
2,960,449
6,634
65,238
71,872
M exican R ailw ay....... . . .
J u l y l to Feb. 2 8 ....1 1 ,4 9 8 ,8 9 4 11,175,662 3,941,266 3,448,275
40
....
26,190
26,150
56,200
8t. Louis A lt. A T. Haute.
41.875
Tenn. Coal I. A R R ...F .b .
........
.........
3,115
57,795
60,91o
127,400
U n ion Pac. Den. A G ulf.
92.875
2,000
Jan. 1 to Feb. 2 8 .................................................
63,200
65,200
W estern N. Y. A P en n ...
29,699
32,244
Toledo A O. C en t.b ...F eb .
127,958
104,085
64,482
68,102
272,639
364,503
Jan. 1 to Feb. 2 8 ..,
268,382
222,457
6,853,151 6,761,287
Total (87 roads)...........
406,757
488,890
July 1 to Fe> ci ? s - 1,400,716 1,207,288
91,864
N et increase (1*36 p. e.)
reek o f March.




1895

1894.

increase.

Decrease.

93
34
38

33
36

THE CHRONICLE.

A p r i l 6, 1895.]

60S

-Gross Earnings.1895.
1894.
$
$
W est.N.Y. & Penn, b .. Feb.
208.700
195,839
Jan. 1 to Feb. 2 8 ___
425,917
405,787
J u ly 1 to Feb. 2 8 ___ 2,215,465 2,101,296

■Net E arn in gs.— >
EARNINGS, EXPENSES AND CHARGES.
1895.
1894.
1894.
1893.
1892.
$
$
Er-arn in gs—
$
39,380
3 8 .73J P assen gers...........................................
208,552
219,624
181,378
74,967
82,43? S l i g h t ......... ......................... .......... 1,873,974
1,743,140
1,836,959
707,484
5 5 0 ,5 4 a M iscellaneous......... ......... ................
gg 595
88,169
77,389
a N et earnings here given are after deducting ta x es,
Total -....................................
2 ,lß 9 121
2
,095,726
p N et earnings bare given are before deducting ta x e s.
Expenses—
A fter deducting proportion due roads operated on a percentage Conducting tran sp ortation .........
304,877
312,050
275,526b asis and results of operations of auxiliary com panies, n et in Febru- Motive pow er.............................
447,457
512,983
599,206
“ T. 1895, w as $ 116,587, against $92,120 In 1894, for tw o m onths M aintenance of oars..................
130,553
144,959
139,457
ended February 28 $231,226, against $148,184, and for five months
“
of w ay .......................
281,556
251,069
255,975
October 1 to February 28, $1,485,541, against $1,953,977.
G eneral........................................
117,372
5 8 ,8 4 7
t The decrease in earnings due to loss in grain traffic, w hich ou t of
F a st St. Louis alone amounted to $16,427.
O perating ex p en se s....................
1,281,816
1,301,394
1,328,911
<r,J T he difference in operating exp en ses is due to a sp ecial credit of
N et earn in gs................................
887,305
749,539
$8,667 In January, 1894, w hich did not recur in 1895.
766,915
§ After deducting other expenditures for repairs, replacem ents and E xch. on pur. in U. 8. currency
and other item s .............................
general expenses, n et incom e applicable to interest on bonds in Febru­
196,126
93,262
63,621
ary w as $59,097, against $55,900 la st year, and for tw o m onths to
Total (Mex. c u r r e n c y ) ......... 1,083,432
F ebruary 28, $140,569, against $140,641, after adding earnings
842,801
8 3 0 ,4 3 6
received from Federal G overnm ent n et from January 1 to February Per ct. of op. exp . to e a r n in g s....
59-09
63-40
65-47
2 8 ,1 8 9 4 , w as $218,309. This is the resu lt in M exican dollars treated
Incom e—
(according to the com pany’s m ethod of keeping its accounts) as equi­ Total n et (U. S. currency................
575,627
531,867
553,624
v a len t to 80 cen ts in United States money—that is, all depreciation Other in c o m e ...............................
71,437
64,651
12,282
beyond 20 per cent has already been allowed for.
II Figures cover only three w eek ’s operation in 1895 ow ing to snow
T otal..........................................
647,064
5
6 5 ,9 0 6
blockade.
D educt—
In terest on bonds...........................
560,000
560,000
Interest Charges and Surplus.— The following roads, in M
'•186,667
iscellaneous.................................
10,112
17,477
23,485
addition to their gross and net earnings given in the foregoing,
also report charges for interest, & c ., with the surplus or defic t
T otal.................. ...................
570,112
577,477
2 1 0 ,Í5 2
above or below those charges.
Balance, su rp lu s.........................
76,952
49,041
3 5 5 ,7 5 4
-Inler’t, rentals, <£c.- -B at. o f Net E a rn s.—
Sept. 1 ,1 8 9 2 , to Jan. 1, 1893.
1895.
1894.
1895.
1894
GENERAL BALANCE SHEET DECEMBER 3 1 (U. S. CURRENCY)
Roads.
$
$
$
Chic. & West M ich.. .Feb.
33,144
1893.
32,753 def.26,639
1892.
A
s
s
e
ts 1S| 4‘
Jan. 1 to Feb. 2 8 ..J.
66,289
65,517 def.57,368
$
Cost ef ro»d, &c . . . ...................... ...3 0 ,9 7 5 ,0 0 0 30,975,000 3 0 ,9 7$5 ,0 0 0
D enver & Rio Gr’de..Feb.
198,539
202,373
475
i
o , i Construction, &o................................
219,289
184,557
167,090
J u ly 1 to Feb. 2 8 ___ 1,602,917 1,616,482
415,114
ISO,¿ i d | Equipment................................ .
43 539
3 8 ,9 10
55,662
Det. Lans. & N or.......Feb.
30,251
Stock ow n ed ....................... .....................................
29,903 def.19,091
113,750
Jan. I to Feb. 2 8 ....
60,169
59,928 def.42,436
Real estate............................................
40,833
38,006
41,1 8 7
12&,«94
Sag. V alley & St. L ,..F eb .
148,810
3,557
3,557 def.2,645 def. 1,969 Cash .................................................
2 9 5 ,0 4 0
407,194
Jan. 1 to Feb. 2 8 ___
7,114
515,312
7,114 def. 4,919 def.4,258 Due by office in M exico...................
504,182
M iscellan eou s...........................
25,567
6,056
Tenn. Coal I. & R R ..F eb .
4 *,735
59,700 def,6,860 def.3,500
Jan. 1 to Feb. 2 8 . . . .
108,435
120,000 def. 15,560
7,400
Total a ssets.................................. 31,841,157 32,020,441 32,029,172
Toledo & Ohio C en t.. Feb.
L iabilities —
33,167
33,326
*5,224
*5,807
Ju ly 1 to Feb 2 8 ___
274,759
235,473 *223,052 *182,007 F irst mortgage b on d s........................ 14,000,000 14,000,000 14,000,000
Capital stock ........................................16,975,000 16,975,000 16,975,000
* After allow ing for other incom e received.
Unadjusted accounts..............................................
52,000
107,598
Interest accou n t................................
186,687
186,666
186,666
Incom e account ..................................
679,470
806,774
758,907
Total lia b ilitie s............................31,841,157 32,020,441 32,028,172
B oads.

ANNUAL REPORTS.

Southern Pacific System.

Canadian Pacific Railway.

( Results fo r the year ending December SI, 1894.)
(Report fo r the year ending Dec. SI, 1894.)
The preliminary statement of earnings and expenses of all
The report of President Van Horne of this company will be
found at length on another page, with the income account, lines for the year ending Dec. 31, 1894, is as follows :
P r o p r ie t a r y
L e a se d
A ffilia te d
Toted ,
T o ta l ,
detailed statement of charges, balance sheet, etc., etc. Com­
C o m p a n ie s .
L in e s . C o m p a n ie s .
1894.
18-3.
2,145
4,268
ments on the report are also given in our editorial columns. I Aver- mlles operated. .. 4,465
7,878
7,867
The comparative statement of operations, earnings etc., for I Gross transp. e a rn in g s... ss,770.063 16,001,940 6,146?154 50,918,157 53,946.667

four years have been compiled for the Chronicle as follow s :
OPERATIONS AND P iS C iL RESULTS.

1894.
1893.
1892.
1891.
M’s op. D ec.31.
6,344
6,327
6,015
5,766
Operations—
P ass, car'd No.
3,009,015
3,311,247
3,258,789
3,165,507
P ass, m ilea g e.. 260,804,129 334,307,590 328,838,647 320,659,836
R atep.pas.p.m .
1*85 cts.
1-69 cts.
1-69 cts.
1*70 cts
F r’g ’t(t’ns) car.
3,891,804
4,226,959
4,230,676
3,946,710
F r’g’t;t’ns)m ’g . 1313,948,410 1453,367,263 1582,554,352 139L705Í186
Rate p. ton p.m,
0-87 cts.
0-87 cts.
----- I cts.
0-84
0-91 cts.
E arn ings—
$
$
$
$
P assenger.........
4,840,412
5,656,205
5,556,316
5,459,789
F r e ig h t ...........
11,445,378
12,673,075
13,330,540
1 2 ,6 6 5 ,5 4 0
Mail, ex p ., e tc .
2,466,377
2,633,037
2,522,495
2,115,766
Total earn’gs. 18,752,167
20,962,317
21,409,351
20,241,095
Expenses—
M’n t.of way etc.
2,972,024
2,808,677
2,570,255
2, *»19,825
M otive po w er..
3,682,487
4,316,489
4,298,5*9
4,217,975
Maint. of oars..
868,403
831,196
956,988
704,446
Transportat’n ..
3,016,505
3,427,512
3,324,758
3,032,476
M iscellaneous..
1,789,438
1,83^,027
1,838,414
1,756,714
Total ex p en s. 12,328,859
13,220,901
12,989,004
12,231,436
N et earn in gs...
6,423,308
7,741,416
8,420,347
8,009,659
P .c.op .ex.to ea.
65-75
63-07
60-67
63-43
INCOME ACCOUNT.

N et ea rn in g s...
Int. o n d ep .,eto.

1894.
$
6,423,308
333,826

1893.
$
7,741,416
209,863

1892.
$
8,420,347
203,603

1891.
$
8,009,659

Total .............
F ixed charges.
Contingent in t.
D ividends.........

6,757,134
6,589,379
694,487
*1,881,960

7,951,279
5,338,597

8,623,950
5,102,018

8,009,659
4,664,493

2 ,275,000

1,300,000

1,305)000

T otal.
9,165,326
B alan ce......... qef.2,408,692

O perating ex p en ses.

N et earn in g s............. .’.
T rackage and re n ta ls ...
In te re s t on acco ants
O ther re c e ip ts................
T otal n e t incom e..........
C harges —

T ax es..................................
Trackage and re n ta ls ...
B etterm en ts and a dd’ns.
In te re s t on b o nds............
O th e r in te re st .................
C»P. R E . Co. n e t e a rn s....
Cal. Pacific re n ta l.............
O ther p a y m e n ts ...............
T otal charges.................
E arns over fixed charges
E arns.und’r fix’d charges
Incom e from Investm ’ts
owned b> S. P . Oo.........
D ue from Ore. & Cal. RR.
Co. fo r acct. o f oper’ns.

19,385,005 10,020,731 8,925,542 83,381,278 81,692.403
9,385,058 5,981,209 2,220,013 17,580,879 19,254.204
547,762
31,588 ............
579,348
50,571
40,338 ............
90,909
8,420
8,426
103,944
9,991,817 0,059,133 2,220,012 18,271,562 19,940,749
709,293
408,079
124,742 1,242,115 1.489.858
092,913
51,204
1,175
745,293
797,198
10,205
945
............
11,149
311,507
0,719,147
936,475 1,005,775 9,280,397 9,097,289
24,010
............
32,744
67,300
50,913
4.030.007 ...........
4,030,607 6.593.859
012,270 ........
012,276
012,071
11,039
11,753
7,375
30,707
0,70$
8,107,813 0,650,339 1,771,811 10,595,963 17,959,463
1,814,003
............
448,801 1,075,598 1,981.285
597,200
............

E am s.over fixed charges 1,824,003
E a m s.u n d ’r fix’d charges
B etterm ’ts and addl ions
charged to capital acct.
925,222

371,031

311,439

541,350

442,833

448,801
........

2,587.985

2,735,557

187,975

1,258,018

1,500,849

541,350

__

............
55,850
144,821

The recapitulation of the above is as follows :
®a r? in£8 ?7e r a11 Axed charges a nd liabilities u n d e rle a se s. $2,587,985
E xpenditures for b e tte rm e n ts a nd a d d itio n s ...........................* 1 25* 018
Less chargeable to leased lin e s.............................................. 144)821
------ ----- 1,113,197
E arnings o v e ra ll expend’s fo r proprietary lines and affiliated COS.........$1,474,788

Pittsburg Cincinnati Chicago & St. Louis Railway.
( Report fo r the year ending D e c .3 1 ,1894.)
This company belongs to the Pennsylvania system. In ad­
vance
of the pamphlet
copy of the annual report
for 1894 we
Ora om n f/v
4- 41. ^ A* n __ •___c*
A

7,613,597
5»964,493 I a r e a b le t o p r e s e n t t h e f o llo w in g figured :
sur.337,682 su 2,221,932 su .2,045,166 | Y ear ending Dec. 31.
1894.
1893.
1892. *t
1,150 1,144
1,144
*27» p. c. ($1,625,000) on ordinary stock and 4 p. c. ($256,969) on Miles operated..............................
Gross. ........................................... $14,247,855 $15,750,807 $16,160,675
preferred stock.
w
'
Operating exp en ses.................... 10,765,519
12,034,630
12,260,984

Mexican International Railroad.

- N e t . . ......................................... $3,482,336

$3,716,177

$3,899,691

16,022
Other in com e...........................
( Report fo r the year ending December 31, 1894.)
14,046
12,914
790,923
439,354
483,983
On subsequent pages are published in full the remarks of | Profit on operated lin e s.. . . . . . .
President C. P. Huntington, as given in the report. A state­
N et in com e............................ $4,289,281
$4,169,577
$4,39 6 ,5 8 8
3,344,943
3,233,574
ment of operations, earnings, charges, &c., have been com­ | Int., rentals, car trusts, e t c ... 3,653,790
piled for the C h r o n ic le as follows :
Balance, su r p lu s............ .
$635,491
$824,634
$1,163,014
1894.
1893,
From surplus earnings the following preferred stock divi­
Miles operated, a v e r a g e . . . . . . . . . ..............
573
573
P assengers carried ...................................>...
77,456
74 577 dends have been paid: In 1894, two per cent, $159,497; in 1893,
m
-Jl “ • ° ? e
................
8,786,655
9,225*,837 four per cent, $908,194; in 1892, four per cent, $896,847, Bal­
Tons freight carried (m etric)......................
376,734
335 200 ance to credit of ¡profit] and loss Dec. 31, 1894, was $428,537,
“
“
“
one kilom etre........... 120,875,844
124,090,641 —V. 60, p.523.
•
’




the

604

[V ol. LX.

c h r o n ic l e .
BALANCE SHEET dec . 31, 1894.

Allegheny Valley Railway Company.

Assf ¿Si
Road and equipm ent.*10,225,320
R ealestate at Isthm us
263,616
Material on h and__ . .
117,801
U ncollected earnings
(partly estim ated )..
105,245
Accounts receivable ..
95,372
Sinking fu n d ................ 1,514,821
C a sh ................................
228,913
Advance of subsidy to
Rep. of Colo n b ia __ 2,055,000
Bonds in treasury. . ..
471,000
A d van ces.......................
211,229
M iscellaneous..............
29,644

L iabilities.
Capital stock . -------- * 7 .000,000
Bonds (see S up .) . . . . . 6,055,000
Fund for redem ption
56,310
of subsidy bonds___
73,798
Accrued in t on bonds
31.853
Isthm us d ft s unnres’d
18,750
Due depart, of Panama
26,203
D ueconnec ing com p’s
11.960
M iscellaneous........... .
158,911
Sinking fu n d ................
Corr’ed sur.Deo 31,’93 1,797,884
87,292
Add’n to sur. for 1894

A statement of earnings, expenses and charges for three
Total............................ $15,317,965
years shows the following:
—V. 60, p. 523.

T o ta l................ - ........$15,317,965

( Report for the year ending December 31, 1894J
An advance statement signed by President W. H. Barnes
contains the following:
During the year there were issued 249 shares ($11,450)
P r®^7LeA
capital stock and *8,000 of general m ortgage 4 per
incom e bonds of the old com pany taken up and bond scrip <“S
S
8
and conversions of stock scrip into fu ll sh ares; .also, as per
4,436 shares and *30 sorip of preferred stock to t h e ^ n u s y l vania K K.
do. for 6,338 counons of *35 each, *221,830 from
of the low-grade m ortgage purchased by th at company, and whioh th
earnings of this company were inadequate to m eet.

EARNINGS AND EXPENSES.

1894.
$2,176,708
1,351,780

1893.
$2,436,816
1,559,789

1892.
*2,636,695
1,603,002

$824,928

$877,027

*1,033,693
5,374

$824,928

$877,027

$1,039,067

1,127,580
25,668

1,127,888
26,188

1,128,913

$1,153,248
$328,360

*1,154,076
*277,049

$1,128.913
$89,846

In terest and dividends, &c........
D educt—
State ta x es.

GENERAL ACCOUNT DEC. 31, 1894.
L iabilities.
Assets*
Road and equip-------- $42,897,320 Stock (see S u pp .)......... *26,443,733
Bonds
(see
S
uppl .1—
16,889,^82
Secur. of other comp’s.
23,592
178,767
Cash.................................
335,035 Pay rolls & vouchers.
171,047 Coup’s pur. by Penn.
Material on hand.........
RR. Co........................ . 399,3*0
Due by RRs., agts., &c.
100,679
4 1 ,1 /4
Special fund..................
182,481 Unpaid int. on bonds.
376,972
Profit and lo ss......... .
645,115 Accrued int. on bonds.
M iscellaneous..............
25,263

T otal........................ $44,355,271
—V. 59, p. 27,

T otal.........................*44,355,271

Panama Railroad Company.
(R eport fo r the year ending Dec. 81,1894.J
The report of President John Newton says: *

Cleveland & Pittsburg Railroad.
( Report fo r the year ending Nov. SO, 1894.)
President R. F. Smith speaks in the report as follows :
The favorable showing,' in the face of the continued de­
pression of business prevailing throughout the year, must be
regarded as very satisfactory. The lessee reports all the mo­
tive power and car equipment of the road in active service at
the close of the year, except five condemned locomotives
awaiting rebuilding. The total amount expended on account
of betterments during the year is reported as $8,263.
Duriog the year a satisfactory settlement has been secured
with the State of Pennsylvania of claims in litigation for taxes
on this company’s bonds held by residents of that State, reach­
ing back as far as the year 1836. Thjse bonds being by their
terms free of taxes, the company was held to payment of the
same. The claims were amicably adjusted at a cost of $8,746,
including costs of litigation and legal expen ses. The amount
was paid from surplus funds other than those held for pay­
ment of interest and dividends.
Improvements and additions were made to the property in
the year 1893 by the lessee company, the claim for which,
amounting to $303,034,' has been adjusted and approved by
the auditing committee. Three hundred and two general
mortgage bonds have been issued on account of the same.
The earnings and charges as reported by the lessee are as
follows :
1893.

1894.
$
$
E arn in gs—
641,767
584,186
asseuger__
From January 1 to Ju n e 15, 1894, the company w as operating,
2,266,334
2,1«6,019
betw een New York and Colon, three steam ers belonging to the Pacific F reight...........
130,117
127,514
Mail SB. Company. Since June 15 it has operated, in their place, at
notably less expense, three steam ers formerly belonging to the Brazilian
3,041,218
2,897,719
Line (these steam ers have now been purphased—see Y. 60, p. 523J. On
2,109,904
1,802,338
the Paoifio, the North American N avigation Co., in alliance w ith which
the Railroad Company was operating the through route betw een New
931,314
Net e a r n in g s................................................... 1,095,381
York and Ban Francisco, abandoned in March, 1894, the service of one
of its steam ers. The Railroad Company toon up the charter of this
Deduct—
786,976
786,976
steam er at its own expense, and on May 1 of another steam er belong­ Dividend fund
323,828
322,695
ing to the sam e company, the N avigation Company haying gone out of
10,000
10,000
existen ce. These tw o steam ers have constituted, until the end of the Fund for m aintenance of organization.
36,301
30,862
year w hat is kuown as the Panama Line of Steamers, operated by th e R e n t a l s . . . . . . . . . . . . . . ..............................
Railroad Company.'
,
. .
S i l __
1,157,105
1,150,833
It is encouraging to record that, under th e present depression, there
has been an increase in the am ount of business done by the railroad, Balance, deficit to le s se e ....... ...................
225,791
55,452
both in freight and passengers. In freight during the past year there
has been transported 216,675 tons against 200,082 transported in
The balance sheet on Nov. 30, 1894, was as follows
1893. The passenger trafflo in 1894 numbered 44,805 against 42,018
L iabilities.
A safits.
n 1893.
Road and eq u ip m en t.$18,659,7t7 Capital stock .................*11,247,529
Fund'd
debt,
less bonds
271,557
The General Superintendent says:
Cash
in sinking f u n d .......
6,057,870
29,937
In certain traffic rates h ave been lowered, but by reason of greater Fourth mort. red. aco.
Due
on
dividends
and
Con.
mort.
sink,
f’d
:
economy in operation n et earnings show an increase. The track is in
co
u
p
o
n
s......................
225,683
149,83«
Cash ...........................
good condition, 7,196 lignum vitro cross ties h aving been placed in
9.961
139,314 Due Pa RR. o n b e t’m’s
United States bonds.
track and sidiDgs; 500 tons of 60 lbs. to the yard steel raiLs for repairs
58.844
261,211 Due in d ivid u als...........
are still needed to replace light or defective rails. The w harves at L essee m aterials aoo’t
Bal.,
incom
e
account.
2,434,816
566,000
do sink, f ’d red. aoo
Colon have not only been m aintained but improved. R olling stock in
7,132
service, including all passenger oars, has been w ell m aintained. A M iscella n e o u s.............
number of old, unserviceable freight cars have been dem olished. The
Total............................. *20,084,703
T o ta l...........................$20,084,703
rolling stock iuoludes: locom otives, 38, of which 11 for switching; other
engines, 2; cars, passenger service, 36; loc*l express cars, 27; freight —Yol. 59, p. 1058.
service, 821; m iscellaneous, 3 0; total number of serviceable cars, 914.
Peoria Decatur & Evansville Railway.
U nserviceable c a r s -c o a l cars, 165; flat cars, 374. The traffic in 1894
embraced, with other things, coffee, bags, 681,015. against o54,441 in
( Report fo r the year ending Dec. 31,1894.)
1893; cocoa, bags, 176,138, against 177,268; hides, single, 112,362,
against 106,000; oanned goods, cases, 160,040, against 40,412.

The report of the receivers received this week says in part :
The earnings and income account have been compiled for
The receivers assumed charge of the property on Janu­
the Chronicle as follows:
ary 13, 1894. They found the roadway and structures de­
EARNINGS AND EXPENSES.
manding immediate and large expenditures, causing increased
operating expenses.
,. . ,
1891.
1892.
1893.
1894.
$
The road was not seriously affected by the labor disturb­
$
$
E a m in g s115,579 ance. The coal strike in the month of May caused an addi­
104,207
72,904
.
59,341
939,516 1,304,821 1,418,218
962,708
27,242 tional expense of $7,045 for fuel, and the Pullman strise in
26,962
34,590
.
34,484
the month of July caused a loss of some through traffic.
.1,056,533 1,047,010 1,435,990 1,561,039 The year 1893 produced an unusually short crop of cereals
948,354
974,768
9L6,761
745,093
in Illinois, and as a result there was very little grain to move
586,271 during the first six months of 1894. The wheat crop of 1894
487,636
130,249
. 311,440
was large, and this, with the early marketing of new corn,
INCOME ACCOUNT.
gave us during the last six months a heavy tonnage, par­
1891.
1892.
1894.
1893.
tially offsetting the decrease of the first six months.
$
$
$
.*
Keceipts—
The interest on the first mortgage bonds was paid as fol­
586,271
487,636
130,249
311,440
375,963 lows: Evansville Division, due March 1, 1894, $45,318, was
332,752
367,114
. J319,752
paid Aug. 15, 1894; Peoria Division, due July 1, 1894, $39,768,
962,234
820,388
497,363
. 631,192
Total in c o m e ...
w a s paid Dec. 31, 1894.
Disbursem eu Is—
There was spent during the year for new sidings, ballast,
342,573
347,433
367,158
. 368,739
Interest on d e b t...
81,0<)0 rails, ties (in excess of average for five years, 1889 to 1893)
85,000
90,000
.
97,000
350,000
280,000
D iv id en d s......... . . . . .
35,600 and other improvements, and charged to operating expanses,
35,000
35,000
.
35,000
Subsidies ...................
175,000 $49.787. Renewals of ties w ere: Main line, 120,168. against
175,000
Sinking fu n d ............
23,775
4 3 , 8 7 7 in *1893; Chicago Division, 37,358, against 23,518 in
M iscellaneous...........
1893, those placed in main track being first-class white oak.
500,739
515,933
917,573
988,433
Total d isb u rsem en ts...
Of steel rails there were laid on main line one mile of 60130,453
def.
18,570
def.
97,185
def.
26,199
B a la n c e * ............... ......... 8ur*
pound new steel, north of Decatur, and on the Chicago Di­
vision one mile of 66-pound new steel, south from Sidell. Of
* Accum ulated surnlus Deo. 3 1 ,1 8 9 1 , *1,885,177.
lT in s includes* Lighterage, *21 3 ,5 9 1 ; Interest and exchange, the main line 175 67 miles is laid with 52-pound steel and
51,51 ; w atersu p p lied shipping. *42.365; rentals of property, ballast, 58‘81 miles with 60-pound steel. The Chicago division is
¡elegraph, etc., * 6 g ,2 a 6 ; total, $319,752.




.vunujwitt tiA — .rtiilUHa .....

A pril 6, 1895.1

THE CHRONICLE.

605

nearly all iron rails. When the receivers took possession,
1894.
only aboiit 75 per cent of the equipment was in serviceable I Deduct
condition, repairs having been much neglected. About 85
paiu " V ........................ 4 3 , 1 9 1
per cent is now in service!
8
Aoout 85
The ballast is mostly dirt, which should gradually be dis- I Miscellaneous....................... 2 4 )3 “ *
placed by gravel or other substantial material. Renewal of
, , .. .
----t ie s t h is y e a r w ill p r o b a b ly n o t be so e x t e n s iv e a s la s t ,

but L

will demand an average yearly allotment of about 85,000 for
mam line and 20,000 for Chicago Division. The motive
power, with repairs outlined, can be made efficient to handle
business for the next five to ten years. The road is deficient
in freight equipment. With more modern cars more busi­
ness can be controlled and the earnings increased. The re­
ceivers suggest the acquirement of 500 cars on the installment
P'au- extending over a period of seven years, at a total cost
of $262,500, which with interest at 6 per cent is $323,119 re­
quiring monthly payments of $3,835.
By act of Congress, approved March 2 , 1893, all freight
cars must be equipped with air-brakes and automatic couplers
on or before January 1 , 1898, to do which will necessitate an
expenditure approximately of $165,000, based on present
equipment.
Earnings and charges on whole line have been as follows
1894.
Miles operated.......................................... ...........
331
E a rn in g s—
$
F r e ig h t................................................................... 583,651
P assei g e r ................................................................ 189,378
Mall, express, &c...................................................
88,133
T °ta l....................................
Expenses—
M aintenance o f w ay, dro.....................................
M aintenance of eq u ip m en t...............
Conducting transportation................................
G eneral.....................................................................
T a x e s . . . ........................................................... .

1893.
331

.. .
200 6 3 9

1001528

861,162

922,181

194,615
91,951
3041839
60,638
47,899

115,228
71,087
303,5h0
40.852
44,825

T o t a l................................................................. 699,942
N et earnings.......................................................... 161,220
P er cfent. of oper. exp en ses to earnings......... 8 1 ’27
Deduct—
In terest on bonds.... .....................................
*1 7 1 7 5 3
Interest on floating d e b t ............. ..................
t i ’fivv
R e n ta ls.................. ............................ 30 141
M iscellaneous ...................................... *".1*!*"’ *’
*713

575,552
346,629
62-41
281,791
32,094
29,183
8,607

351,675
5,046
* In terest on second m ortgage is n ot included, sinoe n ot paid,
f In terest due but n ot paid on floating debt is not bare
bore inclndnii
included.
GENERAL BALANCE SHEET DEO. 31, 1894.

Assets—
L iabilities—
Road and eq u ip m en t.$14,807,057
Bonds & stocks owned
1848,584 Funddebt (see In erì ’
M aterial aud supplies.
21,398 lutS afm ded de™ \*
D ue from ind. & corps.
84,441 Bills payable ..............
A gents & conductors.
11,832 Equipment notes . . . . . . .
Foreign rds., traf. bal.
32,595
Amer. E xpress Co.......
1,540
U o o k account) ...??;
U. 8. P. o . D ep t...........
6,114 Audited v o u ch ers.........
Cash................ ; .............
44,419 Unpaid w a g e s ..............
Insurance......................
1,932
B al., def. per ino. acot.
243,956 r r X o Dbllanoes.n?::“ :*

Total disbursem ents..............

175,198

1893.
34^451
87,970
19,420
12,558
154,399

1892.
$
18,099
92,820
18,166
5,975

1891.
$
10,778
92,620
17,827
5,246

134,860 126,471

37,960
4 393
*73.396
BaIanoe,eurplua...... -.........
25,245
p a i d 6 per sen t on pref. stock In 1S94
I
^vlngl!6*178* r/phi
s.
GENERAL BAL* ¿E SHEET, DECEMBER 31, 1884.
Assets.
I
Liabilities.
Road and equipm ent....
,072,272 ! ™
toc£ (SeeStfi'P’T)........ $1,258,150
Stocks and bonds ow n ’
299,978 I Funded
debt (see S ctpp.) 1,970.300
M aterials on band...........
14,590 Pay-rolls and vouchers’
81 306
B ills receivab le................
132 Balan’s due other Co.’s..
39,054
Due from S u p ’t a n d Ag’ts
20,781 M iscellaneous.................
4 120
C a s h ....................................
53,160 Profit and lo ss................
107*982

T o ta l...........................$ 3,460,913
—Voi. 58, p. 511.

T otai...............—. --.$3,46 0 ,9 1 3

GENERAL INVESTMENT NEWS.
American Cotton O il.—At the monthly meeting of the
directors nf the company oa Tuesday, Messrs. J. Kennedy
Tod and William Barbour were added to the board. Mr. Tod
is the well known banker and Mr. Barbour is a wealthy thread
, manufacturer, a member of the Executive Committee of the
Umted States Cordage Company and a Director of the National
Bank of the Republic and several other corporations.—V 59
1p. 795.
• ■*
’
American Sugar Refining.—This company submits to the
Massachusetts authorities the following balance sheet as of
Dec. 31, 1894 Comparison is shown below with the balance
sheet of Nov. 30, 1893.
GENERAL BALANCE SHEET.

^LssdS““
Dec. 31, *94
Real estate and m achinery........................... $43,119,866
Cash and debts reoaivable ...................... 19,428 0 0 0
Im provem ent acoount .................................
5,6 *7,*563
Investm ents in other com panies............
26,201 599

aVoi?

30 *93
$4'931* 6 0 1
23*322 075
3 624 239
26*985*376

---------------................................................. *105,099,481
£ s ? lt a l .................
...................................................................
R eserves..................................... ........................

«105,080,507

73,936,000
21,394,000
9,769,484

73,936,000
22,201,407
8^9 »3,100

Total liab ilities............................................$105,099,484 $105,080,507
—V• DU, p. X70.

Anthracite Coal Roads.—No agreement was reached yesI terday at the meeting of the presidents and representatives
’vfv’n™ ° f th-e ? “thracit? coal companies, but a committee of five was
’¡ 79A 82 $ P,?lntedl consisting of presidents Harris, of the Reading;
886,855 I Wilbur, of the Lehigh Valley ; Thomas, of the Erie; Sloan
37,834 of the Delaware Lackawanna & Western, and one other
65 672
163,479
30,026
20781

l ° s e tt ! V h ® q u e stio n s in d isp u te . Id is u n d e r sto o d th a t t h is
c o a a in itte e is to r e s o r t t o a r b itr a tio n i f n e c e s sa r y in ord er to
r e a c h a s e tt le m e n t.
A r e s o lu tio n w a s o ffer ed a n d ad oD ted
t h ® a c tio n Ì a k e.n b7 th e s a le s a g e n t s a t th e ir la s t m e e t in g ,

Unpaid taxes........I.'.'".
47*lii I dlxlQF1 ?be production of coal for April at 3,600,000 tons,
----------:— should be guaranteed by the presidents. The meeting of the
Total..................... $16,103,867 I sales^ agents to consider prices will be held on Monday.—
i This represents the follow ing, m ostly nledved f o r flo a tin g s ah t> V. 60, p. 561.
T otal.........................$16,103,867

Atchison Topeka& Santa Fe.^ B^wli10^??.8L*i>?3’.y04iaDd wliiok include at par first"m ortgage I ^
w w »*
announcement was made on
bonds, «¿20,000 Omt
(out of a total of $¿50,000), incom
Incom e bonds $582,000, Tuesday that it had been signed by a majority of the London
stoek «478.500
$478,500 and scrip
$29,704.—V
o i «n
60, p.
Stoek
serin *9.9
7GA
« 350.
<e , v
committee of ten and also by Hope & Co. of Amsterdam.
ranwlM i
aI1. of the London signatures are attached the plan wili
Camden & Atlantic Railroad.
be duly signed by the New York committee.—Y. 60, p. 531.
( Report fo r the year ending Dec. 81,1894.J
Brooklyn Elevated-—This company on Wednesday brought
President G. B. Roberts says in the report:
J 1Djunction suit against the city of Brooklyn to restrain the
The increase in the gross earnings of $44,822 was mainly department of Arrears from advertising the company’s propan increase in earnings from passenger traffic of
6ri?r ncin'i)ayment of arrears of taxes amounting
$42,33,*. The charges to construction and equipment accounts to ■
^b.e J0lty, bas tT7enty days in which to answer the
during the year amounted to $9,000. The number of locomo- C°F?r£Th;ltW
t^«C5.«
: •, a
Sine ’o
,Slo8e
c o s t o fSr e p la ci in g o fn e lo c ?
o m o tiv at
e ath?
n d 18
c a r s of
w a sla8t
c h a>r g eard a £ailroad through the streets of the city at a speed greater than s ix

t o o p e r a tin g e x p e n s e s .
*
m iles an h ou r; that sinoe tb it perm ission
T h e e n tir e a m o u n t o f t h e b o n d s o f t h e M a v s L a n d in g 8 r
aY i ,,
<vrauted Permission to the surface railroads to operate
Effff H a rh n r n u -v T?T?
„11* it
“
m a y s y a n a i n g « trolley lines at a ra e of speed exceedin g six m iles an hour and h a v e
a n d a ll o f it s s to c k e x c e p t in g f o u r thus m aterially injured the plaintiff s business.
* d
6
,n a ^,e b een P u r c h a se d b y y o u r c o m p a n y , or in i t s in te r f isi e^sor81 did not exam ine in the year 1893 the
e s t, a n d o f t h e a m o u n t e x p e n d e d $20,000 h a s b e e n c h a r g e d L
S
w w plam tiffs ior vhe purp08e of assessing the value, as is
a g a in s t t h e in c o m e o f 1894, mu:.
n
n. . . .
. - . — t—- This road ------,
was leased, to
the I ««¿«urea Dy law.

Camden & Atlantic in 1873 at an annual rental of $5 , 0 0 0 .
The condition of your property was fully maintained during
tbe0year* ^ ring tbe year ^03% tons of new steel rails and
o7,32o cross-ties were used for renewals.
Earnings and expenses and the income account, for four
years, have been compiled in the usual form for the C h r o n ­
ic l e a s follow s:
i
E a rn in g s—

1894.
1893.
1892. ; 1891.
$
$
$
$
635,953 593,621 586,054 562,840
164,785 158,794 134,605 148,904
87,408
90,909
87,264
89,2 ¿6
888,146 843,324 807,924 800,970
648,190 6 til,2 3 9 670,371 649,254
239,956
8,638

182,085 137,553 151,716
10,274
1,700

Total incom e ........................... 248,594 192,359




139,253

151,716

The plaintiff alleges that the taxes are grossly in excess of
what it should pay, and that they are illegal and unenforceable for various reasons ; tbat the trolley companies are not
taxed on tbeir real estate, although exercising the same rights
m respect of speed as the elevated roads. Tue plaintiff re­
cites that when the trolley went into operation the plaintiff
had no floating debt, but did have a surplus of $236,090. On
January 1, 1895, it was in debt $363,000, besides two years’
back taxes.— V. 60, p. 301.
Called Bonds.—The following bonds have been called for
payment. The numbers may be learned at the respective
oinces :
M e x ic a n N a t io n a l . —46 $1,000 6 per cent 40-year 1 st mort.
rods w ill b e p a id J u n e 1.
Mi l w a u k e e L a k e S h o r e & W

e s t e r n .— 25

bonds of the ^

m iir ir o i e r a s e d A p r il 1#
W y o m in g V a l l e y G o a l C o .— 10 b o n d s w ill b e p a id o ff

May 1, V. 60, p. 5 6 1 . ^

s

I

606

THE CHRONICLE.

[VOL, LX.

Houston East & West Texas.—The bill authorizing thin
Canadian P a c iflc .-A t the annual meeting on Wednesday company
to lease and operate the Houston & Shreveport RR.
the old board of directors was re-elected. Later Sir William has
passed the Texas Legislature and been sent to the Gover­
C. Van Horne was re elected President and Mr. T. G. Shaughnessy, Vice-President. The annual report, with the remarks nor.—Y. 60, p. 432.
Interior Conduit & In sulatin g.—Justice Beach, in the Su­
of President Van Horne, as also an editorial on the company s
operations, will be found on other pages of to-day s c h r o n ­ preme Court Thursday, refused to make permanent an injunc­
tion restraining the officers of this company from issuing
icle .—V, 60, p. 391.
Chicago & Northern P a c ific —At Milwaukee (»Wednesday $500,000 of gold debentures.—V. 60, p. 301.
Inter-State (Street) R ailw ay.—A.t Attleborough, Mass.,
Judge Jenkins of the United States Court decided favorably
March 30, the entire property of this company was sold underto the bondholders the question as to the validity of th‘3.®0,“
panv’s bonds. This question was raised by the defense in tne foreclosure to Eiward R. Price, w .10 is said to be trustee of
foreclosure suit brought several months ago under the more the syndicate that recently bought the Attleborough North
gage of 1890 for $30,000,000, of which the Farmers Loan. & Attleborough & Wrentham Street Railway.
Trust Co. of New York is trustee. It was maintained that
Tam pi & Ksy West. —At Jacksonvil e, Fla-.,
the Farmers’ Loan & Trust Co. had never qualified to do onJacksonville
M o n d a y , final foreclosure proceedings ware begun in the
business in Illinois by depositing $200,000 with the State United States Court under this company’s consolidated mort­
Auditor, and that therefore the bonds were not valid, in is gage for $4,000,000 by the trustee, the Pennsylvania Company
defense was set up by the original mortgagor, the Chicago « for the Insurance of Lives & Granting of Annuities. Of
Northern Pacific R.R. Co., by its lessee, the Northern Pacific t h e $4 ,0 0 0 ,0 0 0 bonds only $1,784,000 are outstanding. Y. 60,
R.R. Co., and Louis Dasnell, a judgment creditor.
.
p. 391.
Judge Jenkins in deciding the case held that the
Lehigh & New E aglaud —P e iu sflv a n la Pou?hkeepsie &
statute referred to did not apply to foreign corporations
Boston.—On Tuesday the purchasers of ths Pennsylvania
simply taking mortgages, but only to those doing active bus
ness in this State. Even if the mortgage was inoperative as Poughkeepsie & Bastón at the foreclosure sale Dec. 14, lo94,
to the provisions about the trustee taking possession in case met and or^aniz^d a new corporation, to be called the Lehigh
of default, the court said that the mortgage remained good as & New England Railroad, with $1,500,000 capital stock,
a security. The court also held that the Chicago & Northern divided into 30,000 shares, and $1,000,000 bonds. W illiam Jay
Pacific R R. Co. having received the proceeds of the bonds Turner was elected President. The directors are William B*
was estopped from making any such defense as it did. 1 4 0 Scott, J >hn W. Moffly, Joseph F. Sinnott, W. W. Gib ns, W.
Northern Pacific Co. having issued under and s i^ e c t to the W. Kurtz aud Simon Praelzer.—V. 60, p. 177.
mortgage was in no better position. Again, the court held
Lehigh V alley.—The L ¡high Valley Riilroad, which has
that in any event the court would proceed to sell the property been carrying a considerable fl >ating debt in the form of
and apply the proceeds on the bonds. The court then dis­ promissory notes secured by collaterals, it i s u 2" n™ ni™ .u a5
missed the intervening petition of the Attorney-General for arranged for a loan in L vndon of [-‘not quite ] $3,030,000 that
want of equity, and ordered that the railroad companies will take care of all this floating debt at less rates of interest
should answer to the merits of the bill by May 1 . v . 60, p. than are now charged here. Tais loan is to continue for a
fixed term, and is to be secured by collaterals, the inducem ent
481
Citizens’ Gas of Brooklyn.—This company has given notice in making it being the saving in interest and com nissions, and
that the redemption of $250,000 of its bonds, recently an­ the better lending conditions compared with the ordinary four
nounced to take place on April 1, has been deferred until fur­ months’ promissory notes.—Phila. Ledger >■—Y j 1. 60, p. oUs.
Metropolitan Traction—Metropolitan Street Railwayther call, interest running as heretofore.
Coluinbus and 9th A ve.-T w o mortgages on lines in the
Chicago & South Side Rapid T r a n sit-(A lle y Elevated).— Metropolitan Traction system were filed at tbs Ksgis«ers
As expected, this company defaulted on the coupons due office in this city on Tuesday. These mortgages, both of
April 1 on its $7,500,001 of first mortgage bonds of the issue of
which are described in our S treet
nnnLB^ B^ TnoiíÍe
1889.—V. 60, p. 175.
for newly-constructed roads,and are for $5,000,000 aud $3,000»Delaware R iver & Lancaster.—Judge Dallas, in the United 000 respectively, the first covering the L -xiagtou Avenus liae
States Circuit Court, on Tuesday appointed Anthony M. Zane belonging to the Metropolitan Street Railway Co. and the lat­
ter the Columbus and 9th Avenue company’s road. The Lex­
receiver of this company.
ington Avenus line was opened as far a 3 78:h Street with horse
D etroit Mackinac & Marquette.—One per cent will be paid power on Tuesday. Its cable, it is said, will bo put m opera­
on the outstanding land grant bonds of this company at the tion in the fall. Tae Leños Avenue road, wmch is also con­
Central Trust Company, New York, on the 12th last.
trolled by the Traction Company, was opened the same day
Delaware V alley Electric R ailw ay.—A press despatch with horses from 148th Street to 116th Street and 8th Avenue.
from Stroudsburg, Pa., says that on Monday a decree of fore­ From 116th Street it is to be extended to a connection with the
closure against this company was issued, the property to be Columbus and 9th Avenue road at 109th Street. It is_proposed
to have the Lenox Avenue line in operation with underground
sold April 22.
trolley in about two months.—V. 60, p. 83, 302.
Edison E lectric Illu m in atin g Co. of New York.—The meet­
Mexican In tern ational.—A dispatch to the St. Louis
ing of stockholders to act on the new mortgage is set for May
Globe-Democrat from Monclova, Mex., says that thi3 com­
1,—V. 60, p. 561.
pany has purchased in Europe 3,000 tons of steel rails, which
E vansville & Terre H a u te -E v a n s v ille & Richmond.— will be used on the extension from Reata to Monterey. The
Notice is given that a special meeting of the stockholders of grading of this extension is now almost completed. The work
the Evansville & Terre Haute RR. Co. w ill be held in Evans­ of constructing a branch line from Monclova to Sierra Mo­
ville. Ind., May 8,1895, to vote upon the question of author­ jada, a distance of 150 miles, is progressing rapidly. Track­
izing the issuance of 25,680 additional shares of common l a y i n g has begun. This branch road passes through one of
stock. This increased stock w ill be used for the purpose of the most productive grape-growing sections in Mexico and
exchanging the same for bonds of the Evansville & Rich­ will eventually run to the port of Mizatlan. The report of
mond RR. Co., and for the purpose of settling claims against the company for 1894 is given on a subsequent page. V. oy,
the Evansville & Terre Haute RR. Co. on account of its pur­ p. 371.
. ,. .
ported guaranty of said bonds. After this exchange shall
Middlesborough B elt.—This road has been ordered sold m
have been made, and the bonds surrendered, the holders of
certificates for the increased common stock will be entitled foreclosure.
Nashua (N. H.) Street R ailw ay.—The directors have voted
to receive, upon surrender of their certificites, preferred
stock of the Evansville & Terre Haute RR. Co. to the same to proceed upon the extension from Hudson to Lowell and to
change the power from horse to electricity. Bids for an addi­
amount.—V. 60, p. 349.
tional issue of stock are requested up to the 10th inst.
Flushing & College P o in t (S treet).—On Thursday this
Norfolk & W estern—The receivers paid at maturity theroad was sold in foreclosure for $25,000 to representatives of
the Flushing & College Point Electric Railway Company.—V eoupons of the New River division 1st 6s, maturing April 1.—
Y. 60, p. 481.
60, p. 301.
Northern Pacific. —The receivers of this company have apFort Clark Street R ailw ay (P eoria, I l l . ) - A decree of
sale has been entered in the Circuit Court in Peoria, 111., in olied for permission to abrogate the leases entered into Octo­
the case of the Illinois Trust & Savings Bulk, Chicago, ber 1 1882, with the Minneapolis Union and St. Paul Minne­
against this company. The company has ten days to pay its apolis & Manitoba Railway companies (Great Northern sys­
tem) for the use of the terminals and tracks of those compa­
indebtedness of $297,583.
nies at Minneapolis. The receivers desire to utilize their St.
F ort Worth & Denver City.—A press dispatch from Austin. Paul & Northern Pacific line between Minneapolis and bt.
Tex says that the Senate Railroad Committee has referred to Paul, and are said to have arranged to use the Minne­
a special committee the bill authorizing the issuance by this apolis & St. Louis terminal facilities at Minneapolis, it is
company of refunding bonds to take up outstanding bonds. said they would thus save about $50,000 per annum over the
There are some objections to the bill, but a favorable report is Great Northern contrac ts. Judge Jenkins on Tuesday granted
anticipated. This is preparatory to reorganization.—bee V. an order for a hearing on the subject on the 22d inst.—v . ou,
60, p. 520.
p . 563.
General E lectric-W estin g h o u se.-T h e agreement between
Old Colony—New York New Haven & Hartford.—The
these companies had not been consummated yesterday.— Massachusetts Railroad Commissioners have authorized th e
Old Colony Railroad to issue 2,000 shares of stock.—V. 09, p.
, Y. 60, p. 561.
., . 1
fieorffia Southern & F lorid a.—This road was sold in fore 1142.
closure on Tuesday and bid in at $3,000,000 by Skipworth
Oswego (N. V.) Street R ailw ay.—This company was unWilmer, attorney for the bondholders’ committee. V. 60, p 1 able to pay the coupons due April 1 on its first mortgage
522.




A pr il 6, 1895 ]

THE CHRONICLE.

bonds. Press dispatches say F. A. Emerick has been made
receiver.
J Pacific M ail.—The company has purchased the “Aztec,” a
steamer of 5,000 tons, for service on the Pacific coast between
San Francisco and Panama. The cost of the new vessel is re­
ported to have been £38,500. Two other large vessels have
also recently been acquired, the “ O’Brien ” and the “ India,”
which will be used at Panama and Acapulco for coal storage,
and will afford facilities for handling coal which will effect a
very substantial saving in expenses. The finances of the
•company are in very satisfactory shape, the net floating debt
being not more than $50,000.—V. 59, p. 1104.
P hiladelp hia & Reading—Camden County—P hiladelp hia
& Chester Valley.—At Philadelphia on Monday the Junior
Securities Protective Committee were granted permission by
Judge Dallas, in the United States Circuit Court, to intervene
in the equity proceedings for the foreclosure of the Reading
general mortgage. Judge Dallas also granted the petition of
Thomas McKean, of Philadelphia, to intervene as a party de­
fendant in the same suit. Mr. McKean stated that he is the
holder of over $500,000 Reading bonds.
On April 1 the Reading recovers defaulted in the payment
■of interest on the bonds of the Philadelphia & Chester Valley
and the Camden County roads. The default, it was said, was
-due to the inability of the lines named to earn the interest.
The total issue of the Chester Valley bonds is $330,000, and on
the Camden County only $34,000 bonds are outstanding.—
V . 60, p. 563.'
P ittsburg Shenango & Lake Erie.—The annual meeting of
this company was held on the 2d inst. at Meadville, Pa. S.
B. Dick was unanimously elected President and the same
board of directors was continued. The President’s report
shows for the fiscal year ending June 30, 1894: Gross earnings,
$476,651; net earnings, $165,133. The last six months of 1894
show net earnings of $99,814 and the first three months of 1895
•show an increase of $23,000, or 30 per cent over the corre­
sponding months of last year. Contracts for coal from She­
ri an go district already made for this year are over one million
tons, which President Dick says is nearly three times what
ih e company has ever had before.—V. 59, p.- 1059.
Port Royal & Western Carolina.—In the C h r o n ic l e of
March 23 there was an item relating to the Port Royal &
Western Carolina RR., which stated that the courts had or­
dered its sale on the first Monday in April. This it appears
was a mistake, the C h r o n ic l e being now informed as fel­
lows :
The Port Royal & Western Carolina RR. is not to he sold at anction
th e first Monday in April. The road th a t is to be sold is a road over in
S o u th Carolina that bears a nam e som ew hat sim ilar, nam ely, the
North Carolina Western Augdsta & Port Royal RR., a little road about
13 m iles long, running from G reenville, 8. C., towards A ugusta, tincom pleted, that w en t into the hands of receivers four or five years
Ago.—V. 60, p 523.

Reorganization Plans, etc.—The following is an index to
all defaults, reorganization plans, the names of all reorganiza
tion committees and all statements respecting the payment
of overdue conpons that have been published in the C h r o n ic l e since the January edition of the I n v e s t o r s ’ S u p p l e ­
m e n t was issued, all earlier facts of this nature being set forth
in that publication. It does not, however, include matter in
to-day’s C h r o n i c l e .
The folio wing abbreviations are used: P la n t on reorganization
•or readjustment plan ; coup, for coupon payments ; def. for
d efau lt; Com. for committee.
Volume 60.
Page
A tchison, T. & S. F e.......... p lan 479
St. Louis & San. F .............coup. 523
B ay State G a s ................. Com. 522
Ches. & O. S. W. 1st M., coup. 176
Chicago & No. Pete.,..........Com. 258
Chic. & South Side R. T., Com. 175
Cin. & Muskingum V a l..coup. 522
Gleve. Can. & S o .,..............Com 276
Do
do
.1.......... coup. 176
D istill’g & Cattle Feed'g.pton 480
F id ’yL.& T.Co.ofSiouxC.,piau 561
G .Bay W. & Bt P .C o m .30l, 391,480
Jack. Tampa & K. W., ..C om . 219
K entucky & Ind. Bridge. Com. 522
Bake St. E levated, C hio.-ptoa 391
Lincoln (Neb.) St. Ry. ....C o m . 259
Long Island T ra ctio n ....p la n 522

Volume 60.
Page.
Louisv. Ev. & St. La. couv, 522, 562
Mobile & G irard............ '..coup. 392
Mont. Tuscaloosa & Mem. .def. 562
Norfolk & W estern...........Com. 302
Oregon 8. L. & U. N.......... coup 220
Peoria Decatur & E .........coup. 35
Phi 1a. & Reading,......... ..C o m . 219
Phil. Read. & N. E .. Com .. 178, 563
Rio Grande Southern ...p la n 392
Savannah (Ga.) Elec. R y .p la n 563
Schenectady Ry................. plan 303
Union P acific....................C o m . 220
Do.
do..........................coup. 220
Kansas P ao.. Com. 393, 523, 564
U. S. Book Co.................... Com 303
V alley of Ohio....... .........p la n 437
W isconsin Central.............p la n 260

San Francisco & San Joaquin V alley.—This company is
reported to have placed with a Pennsylvania establishment an
order for a large amount of steel rails at $22 75 per ton. It is
.said construction will begin at Stockton, Cal., extending
thence up the valley.—Vol. 60, p. 393.
Savannah Florida & Western.—Beginning April 1, the
Plant system, of which this road is the principal member, in­
cludes in its statement of mileage, as reported to the Travelers'
Official Guide, the following recent acquisitions: Florida
Southern Railway, 247 miles; St. John & Lake Eustis RR.,
48 miles; Sanford & St. Petersburg, 152 miles, making total
railroads in system 1,941 miles.r-V. 60, p. 523.______^
“ Second Avenne Railroad (New York).—At the annual
meeting this week the directors discussed a change in the
motive power of the line, but no definite action was taken.
The old board of directors was re-elected for the ensuing year
with one exception, Henry N. Whitney succeeding Charles
E. Welles. The C h r o n ic l e was recently informed that the
proposed transfer in the control of this company had noi
fallen through, as the daily papers reported, but was still
pending, no decision having been reached regarding ¡it.—V.
•60, p. 303.




607

Southern Pacific.—At the annual meeting on Thursday
1,166,000 shares of stock were represented, out of a total of
1,209,000. By a unanimous vote the old board of directors
was re elected, except that George Crocker succeeds W. H.
Crocker, and Charles C. Lathrop succeeds S. T. Gage. —V. 60,
p. 561.
Standard Telephone Company.—This New York corpora­
tion, with subsidiary companies organized under the laws of
other States, is proposing to do a telephone business on a large
scale “ with new and improved appliances” at rates much
below those heretofore ruling. The company claims to hold
valuable patents, but few facts are obtainable regarding its
statu?, and it is said that some months w ill elapse before its
plans are fully made known. The Standard Comoany has a
capital of $10,000,000, and offices at No. 68 Broad Street, New
York. Its board of directors is made up of Thurlow Weed
Barnes, President; John A. Brill, of Philadelphia; Carl F.
Boker, of New York ; John W. Candler, of Boston; George
Crocker, of San Francisco, Cal.; Henry Merz, of New York ;
Allen T. Nye, promoter of the company ; Manning C. Palmer,
of Syracuse, N. Y.; Felix Rakeman, of Boston; Charles T.
Strauss, of New York, and Louis Windmuller, of New York.
Topeka W ater.—In the foreclosure suit against this com ­
pany Messrs. Sullivan & Cromwell of New York have with­
drawn, and Messrs. Rissington, Smith & Dallas of Topeka
are now acting directly a* the representatives of the Atlantic
Trust Company, the mortgage trustee, and for the benefit of
both committees without preference t > either one. It is
much to be desired that the tv o committees should agree on
a common plan of reorganization.—V. 60, p. 523.
Union Pacific.—The interest on the 5 per cent Collateral
Trust Bonds due June 1, 1894, and December 1, 1894, was
paid April 3, 1895, at the office of the New England Trust
Company, Boston.—V. 60, p. 564.
Western New York & P ennsylvauia.—The Western New
York & Pennsylvania Railroad receivership ended at mid­
night Monday, and the reorganized company began business
Tuesday under the title of the Western New York & Penn­
sylvania Railway Company.—V. 60, p. 525.
Toledo Ann Arbor & North Michigan.—In the United
States Circuit Court at Cincinnati, on Tuesday, the opinion
was handed down denying the petition of stockholders to
intervene in foreclosure proceedings. The case was argued
before judges Ricks, Taft and Severence.
The sale of the road will take place April 11. The road will
be bought by the bondholders’ committee and will be speedily
reorganized under the plan. An option for valuable terminal
property at Toledo has been obtained in the interest of the
new company.—V. 60, p. 349, 480.
—Mr. O. D. Ashley, President Wabash Railroad Company,
gives notice to the holders of North Missouri RR. Co. 7
per cent first mortgage bonds due July 1st next and of St.
Louis Kansas City & Northern RR. Co. Real Estate and Rail­
way mortgage 7 per cent bonds, due September 1st next that
the same will be paid on maturity at the Central Trust Co. of
New York, after which interest will cease. Simultaneously
with above notice, Messrs. Kuhn, Loeb & Co. of New York
announce that, having purchased the Wabash Railroad Company first mortgage 5 per cent gold bonds due 1939, issued
and reserved to provide for the above-mentioned bonds, they
are prepared to furnish these bonds in exchange for the ma­
turing issues upon terms to be ascertained upon application.
— The Reorganization Committee of the holders of income
bonds, preferred and common stock of the Green Bay Winona
& St. Paul RR. Company, Mr. John I. Waterbury, President
Manhattan Trust Company, Chairman, announces that there
has been deposited under the agreement a large amount of in ­
come bonds and preferred and common stock, and that in the
interest of all parties the committee has extended the time
within which holders of above securities may deposit same
with the Manhattan Trust Company and sign the agreement
to and including April 15, after which date deposits will only
be received in the discretion of the committee and subject to
such penalty as may be prescribed.
—The “Statesman’s Year Book for 1895” is the 32d annual
publication of this very useful manual. In this work one
may find the statistical facts regarding all the States of the
world. Area and population, constitution and government,
finance, defence, production, industry, commerce, money,
weights and measures, etc., etc., are the topics treated upon,
the facts and figures being brought down to latest dates.
Macmillan & Co., 66 Fifth Avenue, publishers. Price $3.
—Deghuee’s tables of bond values are advertised by Messrs.
G. W. Dougherty & Co., 2 Nassau Street, New York, in to­
day’s C h r o n ic l e . These standard tables are extensively used
by the large bond houses, and by dealers and investors
throughout the country. A feature of the tables is that re­
sults are stated in tenths, while the usual method of com­
puting is in eighths.
— The Reorganization Committee of the Fidelity Loan Sc
Trust Company of Sioux City, Iowa, Mr. Otto Bannard, Chair­
man, reports that more than 60 per cent of the debenture
holders and also of the stockholders has assented to the plan.
The time for signing the plan and depositing the securities
with the Continental Trust Company has been extended to
April 15.

THE CHRONICLE.

608
e p o r ts

a n d

jO o cx tu x je n ts.

CANADIAN P A C IFIC R A ILWAY COMPANY.
FOURTEENTH ANNUAL REPORT—FOR THE YEAR
ENDED DECEMBER 31ST, 1894.
To the Shareholders.
A balance-sheet of the affairs of the Company at 31st De­
cember, 1894, the usual statements relating to the business of
the year, and schedules in full detail, are herewith submitted.
The gross earnings for the year w ere....................... - ..........$18,752,167 71
The w orking exp en ses w e r e .............. ................................... 12,d28,ooo od
And the n et earnings w e r e .............................. - -.................... $6,423,309 08
A d d interest earned on deposits and loan s. .$206,012 50
A d d in terest due from D uluth
South Shore & A tlantic Ry.
Co. o n Consolidated bonds
held by your Company agst.
,
Debenture Stock issu ed ....... $584,000 00
Dess advanced by your Co---- 456,186 59
---------------- 127,813 41
333,825 91
Deduct D irect fixed charges accrued during the year, in ­
cluding interest on Land Bonds and on Consolidated
Debenture Stock issued against D uluth South Shore &
A tlantic Consolidated Bonds held by your Company.
(See paragraphs 14 and 17 and page 2 1 .) ....................... 6,589,378 82
167,756 17
Deduct Contingent liabilities, in terest paid in 1894 aect.
Guaranty Minn. St. P aul & Sault Ste. Marie Bonds.
(See paragraph 1 8 .).........................................-...............

694,487 49

D eficien cy..... ....................................................................-

$ 5 2 6 ,7 3 1 3 2

The surplus earnings account at Dec. 3 1 ,1 8 9 3 , w a s .... $7,261,213 14
From this there has b een charged off—
D eficiency as above................................................$526,731 32
D ividends on Preference Stock for 1894—
2 per cent paid 1st Oct., 1 8 9 4 ........................ 128,480 00
2 per cent paid 1st April, 1 8 9 5 ...................... 128,480 00
Dividend 2*$ per cent on Ordinary Stock
August, 18 9 4 ......................
1,625,000 00
Interest on Land Bonds, advanced previ­
ous to 1894 (Less Land and Town Site
sales applicable thereto) and not charged
against earnings. (See paragraph 14.). .2,112,729 29
4,521,420 61
Surplus earnings account as per balance s h e e t ................ $2,739,792 53

2. The working expenses for the year amounted to 65*75 per
cent of the gross earnings, and the net to 34*25 per cent, as
compared with 63 07 and 36‘93 per cent respectively in 1893.
3. The earnings per passenger per mile were 1*85 cents, and
per ton of freight per mile 0 87 cents, as against 1*69 and 0 ’87
cents respectively in 1893.
4. The earnings and working expenses of the S juth East­
ern Railway (now the Montreal & Atlantic Railway), which
was worked by the Company for the account of the Trustees,
are not included; nor are the earnings and working expenses
of' the Qu’Appelle Long Lake & Saskatchewan and the
Calgary & Edmonton railways, these lines being worked
temporarily under a guaranty by the owners against loss by
your Company.
5. The following is a comparative statement of the earn­
ings and working expenses of the Railway for past eight years:
1888.

1887.
P a sse n g e rs.
F r e ig h t.......
E x p ress.......
P T r & sleep­
in g o a r s...
O ther*..........

$
3,453,818
6,924,130
241,949
235,035

49
47
05
09

176,826 39
574,653 31

$
3,800,883
8,017,313
263,344
244,247

1890.

1889.
18
66
46
18

187,694 13
682,052 99

$
4,623,474
9,057,719
354,044
247,606

$
00 4,774.713 76
34 10,106,644 02
32
356,038 61
70
260,268 43

239,103 14
847,190 93

268,096 76
786,767 40

T o ta l......... 11,606,412 80 13,195,535 60 15,369,138,43 16,552,528 98
E x p e n s e s... 8,102,294 64 9,324,760 68 9,241,302 27 10,252,828 47
N etearn’gs 3,504,118 16 3,870,774 92 6,127,836 16
1892.

1891.
$
P a sse n g e r s. 5,459,789
F reigh t........ 12,665,540
516,098
288,633
E x p ress.......
P ’rl’r& sleep­
303,545
in g e a r s ...
1,007,489

1893.

6,299,700 51
1894.

^1
$
$
46 5,556T316 40 5,656i204 90 4,840,412 33
26 13,330,540 19 12,673,075 38 11,445,377 78
483,922 58
496,134 49
498,129 16
45
25
302,259 34
333,975 39
342,472 29
09
47

331,202 73
1,405,110 53

380,470 10
1,422,457 18

331,719 69
1,294,056 46

T o t a l.... 20,241,095 98 21,409,351 77 20,962,317 44 18,752,167 71
E x p e n s e s ... 12,231,436 lljl2 ,9 8 9 ,0 0 4 21 13,220,901 39 12,328,858 63
N et earn’gs 8,009,659 87 8,420,347 56 7,741,416 05' 6,423,309 08
* Includes Telegraph, Grain E levators and M iscellaneous; also
Profits on Pacific Steamships.

6. The price of wheat, which was unprecedentedly low
at the date of the last annual report continued to decline as
the year advanced, and the prices of nearly all other agricul­
tural products of the country likewise declined. The result­
ing scarcity of money among the farmers had a marked effect
upon trade and manufactures, and caused a contraction in
business throughout nearly all Canada ; and this bad state of
affairs in Canada was made worse by the extraordinary com­
mercial depression in the United States, which, already
severe at the date of the last annual report, grew more so as
the year advanced.




[Y ol.

LX,

7. These causes combined produced an adverse sttte of
affairs which your Directors a year ago hardly thought pos­
sible, and resulted in a falling off in the Company’s eatnings
too gr«-at to be met by reductions in working expenses.
8. The Company sustained an additional heavy loss in on e
of the most important periods of the year, in point of traffic,
and just at the beginning of the summer passenger business,
from the unprecedented floods in British Columbia, which
damaged the line in many places and interrupted through
traffic to and from the Pacific cost for forty-one days, from
the 26th May to the 6:h July, and although the damage is not
all made good even yet, the year’s results suffered from this
cause to the extent of about $550,000 in cost of reconstruction,
extra expenses and loss of earnings.
9 Until late in the year your Directors hoped for and
expected a turn in business for the better, and therefore
held to the course they had been pursuing in fully main­
taining the property and in making permanent improve­
ments, believing that when the turn should come the
railway ought to be in such condition as to take the
fullest advantage of it. Unforiuoately no improvement
came, and at the close of the year the outlook was as bad
as at any time ; it was therefore decided, while keeping the
Railway in safe working condition, to limit expenditures to
matters of absolute necessity.
10. Of the various adjuncts of the Company’s service, the
Pacific steamships show an increase in profits for the year of
$80 467; but the profits of the telegraph, express, sle-ping
cars, grain elevators, lake steamers, hotels, &c., have all
been more or less r» due» d.
11. The land and towrfsite sales suffered more than any­
thing else from the prevailing conditions ; indeed, the sales
almost ceased, and, as was the case in 1893. nearly all the in­
terest on the Land Bonds had to be paid from the general
funds of the Company, the deficit in this item in 1894 being
$656.618 32.
12. The interest on the Land Bonds has not heretofore been
scheduled as a fixed charge, partly because of the naiure o f
the arrangement with the Dominion Government concerning
the proceeds of land sales, but mainly because there are large
assets applicable to its payment which would in ordinary
times be sufficient for the purpose, and also, eventually, to
recoup to the treasury the amounts advanced from cur­
rent funds to make up deficiencies.
13. These ass* ts, yvhich are exclusive of the lands covered
by the Company’s Land Bonds, consist of :—
(a) All unsold townsites.
(h) 1,611,520 acres of S mris Branch lands, w h:ch are free
from all charges.
(c) 945,199 acres, unencumbered, of the 1,099,813 acres of
Manitoba Southwestern lands unsold.
(d) The proceeds of the remaining 153,801 acres of Manitoba
Southwestern lands over and above $2 00 per acre due
to the Provincial Government thereon.
(e) $245,984 of the deferred payments on lands sold from
the original Canadian Pacific grant.
(/) $375,258 of the deferred payments on the Manitoba
Southwestern lands sold.
(ig) $173,500 of the deferred payments on townsite sales.
14. While these assets are all available for the general pur­
poses of the Company, it has been the practice of the Board,
as stated in previous reports, with the view of keeping sep­
arate the railway and ¿ n d accounts, to apply the amounts
realized iro n them to fhe interest on the Land Bonds ; but,
as these assets are not for the present realizable to the extent
anticipated, it has been decided to charge interest on Land
Bonds this year and hereafter, less receipts applicable thereto,
against Revenue, and further to charge off against Surplus
Earnings Account the accumulated advances charged against
lands prior to 1894, amounting to $2,112,729 29. (See page 7,
Annual Report for 1888.)
In addition to the lands covered by its bonds, and to the
lands mentioned above, the Company also holds, free from
any encumbrances, 190,000 acres of land in Southern British
Columbia—a grant to the Columbia & Kootenay Ry. Co.
15. In addition to its own immediate burdens, your Com­
pany has been obliged to give material assistance to its two
subsidiary lines west of Sault See. Marie, the Duluth South
Shore & Atlantic and the Minneapolis St. Paul & Sault
Ste. Marie railways, for both of which your Company stands
responsible as gurantor, and both of which have felt the full
force of the commercial and financial despresaion which has
been so disastrous in the United States.
16. Advances were made to the Duluth South Shore & A t­
lantic Railway Company early in 1893, to enable it to secure
control of the Duluth & Winnipeg Railway. These advances
amount to $1,316,924 18, and against them there are held by
your Company the securities representing the control of the
Duluth & Winnipeg Railway. At the time these advances
were made the financial disturbances which marked the year
1893 were not anticipated, and it was expected that arrange­
ments would very soon be made whereby the amount ad­
vanced for this purpose would be returned to your treasury;
but conditions immediately ensuing made this impossible for
the time.
17. Advances had also to be made to the Duluth SouthShore
& Atlantic Railway Company on the 1st January and 1st July,
1894, toward its fixed charges—$121,737 19 and $334,449 40
respectively, or a total of $456,186 59 on this account, which
has been charged against the year’s revenue, and a further
advance of $236,213 19 to meet certain “Car trust and other

A pb il 6, 1 * 5 .]

THE CBRONIOLE.

necessary payments. The Company has also undertaken an ob­
ligation in connection with the Duluth South-Shore & Atlantic
Railway Company to the extent of $565,000 (in connection
with the acquisition.of .certain properties), against securities
deposited by the latter Company, which are amply sufficient
to ensure the liquidation of the loam
18. Advances were made to the Minneapolis St. Paul &
Sault Ste. Marie Railway Company early in .1894 for various
purposes in the common interest, to the extent of $467,817 89,
and on the 1st January and 1st Julv, 1894-, advances of $247,076 35 and $447,417 14 respectively had to be made to the
same Company towards the payment of fixed charges, making
a total of $694,487 49 advanced on interest account, which has
been charged against revenue.
19. Against the advances to the Duluth South Shore & At­
lantic and Minneapolis St. Paul & Sault Ste. Marie railways,
Other than for interest, the Company acquires an interest in
rolling stock as security, representing the greater part of the
amounts.
30. For the last half-year the Minneapolis St. Paul & Sault
Ste. Marie Railway Company was able to m eet its own fixed
charges, and the Duluth South Shore & Atlantic Railway
Company very nearly did so. Since the opening of thef pres­
ent year the latter has shown a uniform increase in earnings,
but it is evident that the former will need some help at the
hands of your Company for the first half of'1895.
21. Notwithstanding the temporary paralysis of the lumber,
iron and merchandise traffic, which has so severely affected
the two lines in question, and the necessity of making large
advances to them at a time when the money can be so ill
spared, your Directors are still of the opinion they have e x ­
pressed concerning the wisdomOf having secured both of these
lines in the interest of your Company, and with a revival of
business it is hoped that the moneys advanced may be recov­
e r d.
22. In view of the expectations expressed in former reports,
your Directors are greatly disappointed at the outcome of the
past year, and especially at the results of the Duluth South
Shore & Atlantic and the Minneapolis St. Paul & Sault Ste.
Marie railways. Still they believe that the causes are of too
exceptional a character to be taken as affecting the value of
the Canadian Pacific Railway, or of these two subsidiary lines.
23. Tne wisdom of the payment of a full half-yearly divi­
dend last August may now be questioned ; but in June, when
it was declared, there was no reason to d >ubt that with the
new crops a revival of trade would come both in Canada and
in the United States, and that the securities held in the com­
pany’s treasury would, at least to the extent of the advances
from the special fund for other than dividend purposes, be­
come available, and that dividends might therefore be con­
tinued without interruption or risk. Unhappily the situation
grew worse instead of better as time went on, and the opening
of the present year brought no improvement. Your directors
therefore decide i that the payment of a dividend for the sec­
ond half-year would be unwise.
24. The following recently published figures may be pointed
to as indicating the extraordinary con 'itioas to which your
own line, and more especially your subsidiary lines, have been
exposed.

609

permanent bridges, of which about $50,000 m ly be regarded
as contingent.
28. The Company has had to reassume £300,000 of the Pref­
erence Stock, which amount is now held in the Treasury.
29. An arrangement has bsen concluded with the Quebec
Government whereby the $7,000,000 coming due by the Com­
pany to the Province on account of the two sections of the
line between Ottawa and Montreal, and Montreal and Quebec,
which the Company was at liberty to pay upon giving six
months’ notice, shall be paid in two equal instalments, March
1st, 1904 and 1906, the rate of interest in the meantime being
reduced from 5 per cent to an average rate of four and onetwentieth (4 1-20) per cent, effecting a saving to the Company
of $66,500 per annum.
30. The South Eastern Railway, connecting your system
with the New England States and Atlantic seaboard, and of
which your Company acquired the control in 1883, has been
re-organized as the Montreal & Atlantic Railway Company.
The original bonds have been converted into ordinary stock,
of which your Company holds $ ’,160,000, or 67 5 per cent of
the entire issue. New first mortgage bonds have been cre­
ated to the extent of $1,065,000. Of these, $500,000 are held
by the Treasurer of your Company for various claims and
advances, with interest thereon, and $108,000 are similarly
held by the Boston & Maine Railroad Company, which,
with the Concord'<&T Montreal Railroad C ompany, is also in­
terested in the property.. The. remainder of the bonds are
held in the treasury of the new Company against future
needs. The earnings of the Montreal & Atlantic Railway
Company are m >re than sufficient to meet the interest on its
bonds,
31. It is gratifying to note that the gold, silver and other
mining industries of British Columbia are attracting a large
amount of capital, and that extensive workings are being
carried on. The activity in mining operations there is greater
than at any time in the past, and promises a considerable inerease in the traffic of the Railway in that Province for thepresent year.
8?. The low price of grain has stimulated mixed farming in
the Canadian Northwest, and the shipments of cattle, sheep
and hogs from there eastwards last year were nearly twice as
large as in any previous year, and formed an important item
of traffic.
LANDS

33. The sales o f the Canadian Pacific lands last year were
43,155 acres for $131,628-, an average price of $3.05 par acre,
as against 93,184 acres for $295,233, an average price of $3,17
per acre, in 1893
34. The sales of Manitoba South-Western Railway lands for
1894 were 6,312 acres for $28,003, an average price of $4.44 per
acre, as against 14,164 acres for $57,559, an average price of
$3.06 per acre, in 1893.
35. The total sales for 1894 of Canadian Pacific and Mani­
toba South-Western lands were 49,467 acres for $159.631, an
average price of $3.23 per acre, against $107,348 acres for
$352,847 in 1893, an average price of $3.29 per acre^
36. Of the lands previously recovered 'b y 'th e "Company
from cancellation of sales 5,046 acres were resold during the
year at a loss of $1,6 )0 on the price at which they were sur­
rendered.
In 1894
37. The position of the Canadian Pacific laad grant at De­
fro m 1 -9 3 .
$12,794,499 cember 31st was as follows : —

DEGREASE IN GROSS EARNINGS.
In 1893
R ailw ayè.
fro m 1892.
...........................$3,693,808
1. P en nsylvan ia..
4,888,272
2. N ew York Lake Erie <&W estern................ 1,524,880
3 . Chicago Burlington & Q uincy.................... 2,055.919
6,841,605
4. Chicago Milwaukee & St. P au l.................. 1,200,187
5,386,656
2,326,450
5. Missouri P a c ific ............................................. 2,217,693
•6. Union Pacific ............................................... 7,579,760
4,607,006
7 . A toliison Topeka & Santa F e ..................... 1,304,212
7 ,9 6 9 5 6
3,571,791
8. Southern P acific..............................................
922,647
3,046,726
9. Northern Pacific...............
741,348
3,485,692
10. Baltim ore & Ohio.................................................................
3,207,671
11. Chicago Rock Island & P acific........................................
3,695,688
12; Chicago & N orth W e s t e r n . . . ..................................
3,737,534
13. Illin ois C e n tr a l.............................................
.............
14. Lake Shore «^Michigan Southern....... .
.............
4,160,988
3,478,031
15. M ichigan Central & Canada Southern..........................
4,913,080
16. N ew York Central.......................... ....................................
17. W abash.............. ...............r,^ ., Trj,. . . . . . .
2,125,838
18. Canadian P acific................................447,035
2,210,148
Note.—The U nion Pacific decreases relate to nine roads in 1893 and
eig h t roads in 1894. The Atchison Topeka & Santa Fe decreases relate
to tw o roads in 1893 and four roads in 1894.

25. At the expense of capital, additions and improvements
were made during the year (Schedules E and F) at a cost of
$946,907 87; a steamboat for local Pacific coast service
authorized at the last annual meeting was completed at a
cost of $221,579.92; an interest in the “ Soo” Line Sleeping
Cars, proportionate to mileage, was purchased, as authorized
at the same .time, at a cost of $131,118 20 ; car trust obliga­
tions, maturing during the year, to the amount of $156,250 00,
were paid off. and items of rolling stock aggregating $114,639 00 were added to the equipment, making the total charge
to capital account for the year $1.570,394 99. To provide for
these Capital expenditures, £188,750 of Four per cent Deben­
ture Stock was created under Section 4, Sub-section B. 52 Vic.,
Chap. 69, and £111,250 under Section 4. Sub-section C, of the
same Act, which, to within £116,550, exhausts the Company’s
power to create this stock except for the redemption or con­
version of pre-existing obligations, and to represent the inter­
est saved thereon.
26. During the year, 366 timber bridges, aggregating 6'i^th
miles in length, were replaced with permanent masonry or
iron structures or earth embankments.
27. You will be asked to approve expenditures for the pres­
ent year on Capital Account aggregating $461,091, chiefly for



Acres.
Original G ran t.......... ............................................ ....25,000,000
Surrendered to G overnm ent under agreem ent
of March 30th, 1 8 8 6 ......................................... . . 6,793,014

Acres.

18,206,986
Souris Branch Land g ra n ts....................................... 1,611,520
19,818,506
Sales to Dee. 31st, 1 8 9 4 ...; ..... .............. 3,868,963
Less canceled in 1 8 9 4 ................................
33,683
-------------- 3,835,280
Quantity of land ’u n sold ...................................................................15,983,226

38. The position of the Manitoba South-Western
land grant at the end of the year was as follows :
A eres.
Total G rant.........................................
1,396,800
Sales to Dec. 31st, 1 8 9 4 ...................... 305,026
296,987
Less canceled in 1894........................ . 8,039
—
------------------- 1,099,813
Columbia & K ootenay Land Grant u n sold .................................
190,000
Total land owned b y th e C om pany.................................................17,273,039

39.
In their report for 1892 your Directors, recognizing the
desirability of keeping's, large portion of the surplus earnings
in cash, announced their intention to place $4.000,000 on
special deposit with the Company’s Bankers, to meet any
possible deficiency in the net earnings applicable to dividends,
and this intention was carri°d o u t; but the untoward condi­
tions of last year, already referred to ia this Report, made it
necessary not only to pay the interest on the Land Bonds
from earnings but to heavily trench upon the special fund
for the payment of the August dividend, and for the neces­
sary assistance to the Minneapolis St. Paul & Sault Ste.
Marie and Duluth South Shore & Atlantic railways. Had
this course not been followed, securities must have been sold
at a great sacrifice or a floating debt must have been incurred.
Neither of these courses was adopted and the Company is
absolutely free from floating debt.
For the Directors,
WM. C. VAN HORNE, President.

THE CHRONICLE.

610

[VO L.

LX

CONDENSED BALANCE SHEET DECEMBER 31, 1894.
C M ata lfn eR. ^

-. ..........................................$137,600,922 08

Lipet8u a l t t e i
B r S o fiC

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

E S m n i l t S k ...........................................
Lake and Ferry Steam ers................ —
Shops and M achinery (Montreal,
g S S f « » fe ltt

* ° d ° a d 6t° °

21,416,979 84
14,524,278 24
$173,542,180 16
39123
1,135, «74 za
1,289,288 20

JA P A N AND CHINA STEAMSHIPS AND APPURT'R'NTANCES

- -- -- - - - - - - -

------ -— . . . . . .

ACQUIRED SECURITIES HELD AGAINST D EB EN ­
TURE STOCK ISSUED.
Schedule “ A ” ........................................................................
OTHER ACQUIRED SECURITIES.
Schedule “ B ” .......................................- ............-—
REAL ESTATE, surplus lands at and
near Montreal, available for sa le ..
280,341 48
H otels and other buildings a t Vancouver, Fort W illiam and Banff
Springs H otel, held by Trustees
881,579 28
for the Com pany..................................

18,217,553 66
o,DU4,4Uo v i

1 q «S02 710 34
19,592,710 34
2,192,161 94

1,161,920 76

STEAMSHIP “ PRINCE R U P E R T ” AND LAKE
254,298 96
STEAMSHIP “ ABE RDEEN ” . . . . . . ...........................
BALANCES D U E ON LANDS SOLD.
Deferred P aym ents.......... ----- - -- - -- -- - ...........3 ,3 y i,^ u i uu
BALANCES DU E ON TOWN SITES.
244,636 52
D eferred P aym en ts.........................................- ............. — ■
ADVANCES.
^ -r
To M ontreal & A tlantic Ry. secured
by $500,000 1 st M ortgage Bonds.
B alance due b y South Eastern Ry.
assum ed byM ontr’l & A tlantic Ry.
424,144 80
In terest to Oct. 1 ,1 8 9 4 . (See para»
graph 3 0 of R eport.).........................
75,637 48
499,782 28
To M inneapolis St. P aul & Sault Ste. Marie R y., car
467,817
89
tru sts, etc. (See paragraph 18 of R eport.). . . . . . . . .
To Duluth South Shore & A tlantic Ry. car tru sts, etc.
236,213
19
(See paragraph 17 of R eport.)......................• - -To D uluth South Shore & A tlantic Ry. account Duluth
1,316,924
18
& W innipeg Ry. (Seeparagraph 16 of R eport.). . .
AO
MATERIALS A lf o SUPPLIES <5n HAND.
..
1,913,942 48
STATION AND TRAFFIC BALANCES AND ACCOUNTS RECEIVABLE............................ --AXXTiAk’
2,040,254 37
PREFERENCE STOCK RE-ASSUMED, £300,000.
(See paragraph 28 of R eport.).......................... 1,270,000 00
M ISC E L L A lfeoU S SECURITIES AND ADVANCES.
Schedule
......................................................................
o » ,o /± ¿o
DOMINION AND PROVINCIAL GOVERNMENTS,
am ounts due for m ail transportation ’and on acct.
333,121 00
Lake Temisc. Col. Ry. (since paid)
................... - ...........
1,691,239 75
CASH IN BANK T. . . . . . . . . . . . . . . .

CAPITAL STOCK.....................................................................
FOUR PE R CENT PREFERENCE STOCK.....................
FOUR PE R CENT CONSOLIDATED DEBENTURE
STOCK
....................................................................
MORTGAGE BONDS.
„ . .
- nn
1 st Mort. bonds, 5 p. c t .. £ 7 ,1 9 1 ,5 0 0 $34,998,633 33
Canada Central 1st Mort­
gage, am ount of issue,
£ 5 0 0 ,0 0 0 0 0 .................... $2,433,333
Sinking Fund deposited
w ith G overnm ent....... 1,500,000
B alance at m atu rity..............................
Canada Central 2d Mort., 6 per cent.
D ue P rovince of Quebec on Q. M. O.
& O. R ailw ay, at 5 per cen t.............
D ue P rovince of Quebec on North
Shore Railw ay, at 5 per c e n t...........
Algom a Branch 1st Mort., 5 per c t ...
North Shore Ry., 1 st Mort., 5 per ct.
LAND GRANT BONDS, 1st M ortgage.
Am ount of issu e..............$25,000,000
Less—Am ount redeem ed
and c a n c e le d ___. . . . . . 20,574,000
___ ____ ____
Am ount held in tru st b y Dom inion
G overnm ent, n ot bearing in terest.

6,424,000 0 0
41,279,675 OG

29
973,333 33
. 3,500,000 00
3,500,000 00
3,650,000 00
616,119 67

«
48,088,086 3 $ i

$4,426,000 00
1,000,000 00
$3,426,000 00

Land Grant Bonds 3 ^ p e r c e n t, interest guaranteed by D om inion Gov’t

15,000,000 00

18,4 2 6 ,0 0 0 OG

CURRENT LIABILITIES (including Vouchers and
Pay-R olls).................................................................................
INTEREST ON FU NDED DEBT AND RENTAL OF
LEASED LINES.
Coupons not presented, including
^
„
am ounts due Jan. 1st, 189 5 ......... .
$1,461,106 59
Accrued to date, n ot d u e......................
314,464 20

2,42 3 ,4 2 5 09-

1,775,570 7 9

DIVIDEND ON FOUR PE R CENT PREFERENCE
STOCK, payable in 1 8 9 5 ................................................. —
CASH SUBSIDY FROM DOMINION
GOVERNMENT...................................... 25,000,000 00
BONUSES FROM PROVINCES AND
M UNICIPALITIES...............................
1,155,974 81
LAND GRANT.
3,835,280 acres sold, am ounting to ..
6,793,014 acres taken by Dom. G ov.

128,480 0 9

26,155,974 81

12,337,675 79
10,189,521 00
22,527,196 79

Less—E xpenses, cultivation, rebate,
and 10 per cent on Land Grant
Bonds taken in paym ent..................
TOWN SITES.
Am ount received from sale of Town
Sites, not covered by Land Grant
M ortgage..............................................
Less — E xpenditure im provem ents,
grading, clearing, e t c .. ............

2,568,712 58

19,958,484 21

2,739,002 54
675,039 60
2,063,962 94

Surplus receipts 1889 to 1893 ap­
plied against A dvances on Land
680,055- 56
II
feond in terest......... ........................... ...........—
ADJUSTMENT OF INTEREST ON MONTREAL &
ATLANTIC RY. ADVANCES............................................
SURPLUS EARNINGS ACCOUNT (See p. 8 of Report)

1,383,907 3 »
„ 75,637 3 ?
2,739,792 53

$233,859,033 62

M inneapolis 8t. P aul & Sault S ‘e. Marie Ry.:
F IX E D CHARGES 1894.
Preferred Stock (constituting a m ajority)......... , ..............$3,533,400 00
1st M ortgage Bonds 5 p. c ......................$1,749,931 66
Ordinary Stock (constituting a m ajority)......................... 7,066,600 00
Province o f Quebec 5 p. c .....................
350,000 00 Souris Branch, F irst M ortgage Bonds, £ 4 0 0 ,0 0 0 ............... 1,946,666 67
North Shore 1st Mortgage 5 p. c . . . . .
24,236 00 Pacific Steamship First M ortgage Bonds, £ 7 2 0 ,0 0 0 ...... 3,504,000 00.
Canada Central 2d M ortgage 6 p. c ..
58,400 00
S C H E D U L E “ B .”
“
“
1st
“
Sinking
F un d ...........................................
51,100 00 DETAILS OF BALANCE SHEET ITEM—“ OTHER ACQUIRED^
£ 2 0 0 ,0 0 0
St. Lawrence & O ttaw a 4 p. c ..............
38,933 34
SECURITIES.”
$2,544,000
Man. S. W. Col. Ry. 1st Mort. 5 p. c . .
127,200 00
Toronto Grey & Bruce R en tal...........
140,000 00 MONTREAL & OTTAWA RAILWAY BONDS.
£ 4 ,0 0 7 ,3 8 1 15s. 5d. Ontario & Quebec Debentures 5 p. c.
975,129 56
(Acquired from proceeds of Preference ^
$2,000,000
Ontario & Quebec (ordinary) 6 p. c ..
120,000 00
Stock issued in 1 8 9 3 .)..................................$400,000 00
£ 1 ,3 3 0 ,0 0 0
A tl. & N. W. Ry. 1st Mortgage, less
G overnm ent proportion...................
136,333 34 ATLANTIC & NORTHWEST RAILW AY.—
£ 7 5 0 ,0 0 0
Algom a Branch 5 p. c . . . . .....................
182,500 00
E gan ville Branch.
South Eastern Ry. rental, Farnham
(Acquired from proceeds of Preference
to Brigham J e t.....................................
1,400 0 0
Stock.)............................................................... 302,400 00
R ental M attawam keag to V anceboro.
23,800 00
$702,400 0 9
R en talN ew Brunswick Ry. sy stem ..
361,009 60
MONTREAL & ATLANTIC RAILWAY STOCK,
4% D e b e n t u r e S t o c k .
Issu es for general p u r p o s e s ....£3,458*125
21,600 shares, $2,160,000 00 (co st)..................................... 1,489,761 94
Issu e for China and Japan Strs.
720,000
(Formerly South E astern R ailw ay, ac­
Issu e for Souris B ranch............. 1,004,000
quired in 1883, see page 17.)
$2 , 1 9 2 , l i T 9 l
£5,182,125 $1,008,787 00
Issu e for acquiring M ortgage
S C H E D U L E “ C.”
Bonds of Roads of which prin­
DETAILS OF BALANCE SHEET ITEM—“ MISCELLANEOUS SE­
cip al or int. is guar, by C. P. R . £3,000,000 $584,000 00
CURITIES AND ADVANCES.”
------------------------$1,592,787 00
In terest on Land Grant B onds......... .........................
656,618 32 PACIFIC POSTAL TELEGRAPH CABLE COMPANY’S .
STOCK, (cost).............................................................. — - $300,000 0 9
$6,589,378 82
(Pacific Coast system ,W ashington, Oregon, California.
Stock represents h alf interest. Other h alf ow ned in
N o t e .—In addition the Company is liable, under guarantee, for th e
in terest of the P ostal Telegraph Cable Co., of the
Interest on the Bonds of the M inneapolis St. P aul & Sault Ste. Marie
United States and the Commercial Cable Co.)
R ailw ay Co., under w hich w as paid in 1894 $694,487 49.
PACIFIC POSTAL TELEGRAPH CABLE COMPANY.
50,000 0 9
(Loan on note, a sim ilar am ount h avin g been ad­
S C H E D U L E “ A .”
vanced by holders of other half interest.)
DETAILS OF BALANCE SHEET ITEM.—“ ACQUIRED SECUR­ MINNEAPOLIS ST. PAUL & SAULT STE. MARIE
ITIES H ELD AGAINST DEBENTURE STOCK ISSU E D .”
RAILWAY COMPANY—in com e certificates (cost)
270,000 0 9
A tlan tic & North-W est Ry. 5 p. c. Guaranteed Stock....... $3,240,000 00
(Acquired in connection w ith the controlling interest
Columbia & K ootenay Ry. 4 p. c. F irst M ortgage Bonds.
693,500 00
in the stock of th at Company.)
M anitoba South W est’n Col. Ry. 5 p. c. F irst Mort, B onds.
72,000 00
CHATEAU FRONTENAC (QUEBEC HOTEL), S to c k ...
200,000 0 9
N orth Shore Ry. 5 p. c. F irst M ortgage B on d s..................
131,400 00
Undertaken in the general in terest of the Company in
D ulu th South Shore & A tlan tic Ry.:
connection
w
ith
the
acquisition
of
the
N
orth
Shore
4 p. c. Consolidated M ortgage, guaranteed....................... 14,600,000 00
R ailw ay (the Company’s line betw een M ontreal and
Incom e certificates..................................................................* 3,000,000 00
Quebec) and in connection w ith the cancellation of a
Preferred Stock (constituting a m ajority)......................... 5,100,000 00
contingent liab ility of $1,108,626 thereon.
Ordinary Stock (constituting a m ajority)......................... 6,100,000 00

£ 7 ,1 9 1 ,5 0 0
$7,000,000
£ 9 9 ,6 0 0
£ 2 0 0 ,0 0 0




.Apbil 6, 1895.J

THE

CHRONICLE.

B rought fo rw a r d ............................................... ............................... ..................................
$ 820,000 00
■CANADA NORTHWEST LAND CO. STOCK (cost)........ $518,087 27
(Taken b y this Company in 1882, as one of the term s
of the sale of 2 ,200,000 acres of land to the C. N. W.
Ld. Co.)
N IA G A R A BRIDG E & REAL ESTATE............................
95,757 51
(Acquired in 1890, w ith view to exten sion of lin e from
W oodstock and H am ilton to N iagara Falls.)
DOMINION EXPRESS COMPANY’S STOCK..................
113,750 00
(This Company’s E xpress, the stock of which is ail
held in the Treasury. Am ount paid up represents
cost of original equipm ent and organization.)
INSURANCE PREMIUMS PREPAID FOR 1 8 9 5 -9 6 ....
67,818 42
(On 3 years’ contract to^secure advantageous term s).
SOUTH ONTARIO & PACIFIC RAILWAY ST O C K ....
20,000 00
(This Company’s organization for line, Woodstock,
H am ilton and N iagara Falls.)
MISCELLANEOUS SECURITIES AND A D V A N C ES...
553,114 94
(Of this am ount $425,805 19 has been realized since
January 1st.)
VICTORIA ROLLING STOCK BONDS (since realized
in fu ll.)........................ .............. :........ - . ...... ......... .......4 5 4 ,0 0 0 0 0
MARQUETTE HOUGHTON & ONTONAGON RAIL­
346,143 09
W AY BONDS ( c o s t ) . . . . . . . . . . . . ................... .
(Part of issue, $1,400,000 6 per cen t bonds, due 1925,
on the Marquette Houghton & O ntonagon Railway,
the central section of the Duluth South Shore & At­
lan tic Railway, and p ractically underlying all the se­
curities of the latter Company. These bonds were
purchased to save interest, and are carried for ac­
count of the Duluth South Shore & A tlantic R ail­
w a y Company, and are readily convertible in to cash
if n ecessary.)
— ----------------$2,988,671 23
NOTE.—A dvances on D uluth & W innipeg securities, $1,316,924, and
Montreal & A tlantic bonds, representing advances and interest,
$499,782, appear as separate item s in the Balance Sheet.
S C H E D U L E “ D .”
CONSTRUCTION—ACQUIRED AND BRANGH LINE:!.
Souris Branch (old account)............................
$11,963 35
i4 8 ,3 3 8 79
R evelstoke Branch.........................-...................
Lake Tem iscam ingue Col. R y.........................
484,578 67
Crow’s N est P ass Branch (old account)—
1,930 21
Prelim inary surveys of projected lin es (old
acco u n t)...................................... ......................
126 60
--------------------- $646,937 62

611

B rought f o r w a r d ....... . _"...-----. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6gr,g44 25

..Branch Lines.
$2,717 49
Southwestern Branch (100-1 m ile s)..............
Em erson Branch
( 64-8 m iles)...............
842 39
Selkirk Branch
( 22-5 m iles)...............
393 37
Stonew all Branch
( 18'2 m ile s )..----- . . . .
413 53
Stobie Branch
( 5 -6 m ile s(......... .
426 53
M ission Branch
( 10-1 m iles)......... ¿..
616 10
Algom a Branch—
Right of w ay and perfection of
t itle ........................................................ $550 00
Additional fen cin g .......................
381 06
Widening cuttings, em bank­
m ents, filling tr e stle s............
18,899 11
Additional sid in gs.......................
321 38
Perm anent b rid ges.....................
5,736 45
33 54
H eavy rails and fa sten in g s---Additional w ater su p p ly...........
3,898 09
Coal chutes, A lgom a..................
1,992 55
---------------3 1 ,8 1 2 1 8
— --------------Telegraph exten sion s and ad d ition s....................................
T otal........................................................................ . .................
SCHEDULE

37,221 59
936 38
$730,102 22

“ F .”

DETAILS OF EX PEN D ITU R ES ON LEASED LINES.
Ontario & Q uebec R ailw ay S ystem .
Substitution of h eavy rails and fastenings,
$4,658 25
less credit for lighter rails rem oved....... .......
Perm anent b r id g e s .......................... ................
619 23
Widening cuttings, em bankm ents, ballasting,
e t c .... ...........“ .....................................I . . . ..........
22,389 73
848 57
Im proving w ater su p p ly .......................... ...........
Additional sid in gs...............................................
1,143 1 8
Additional stations and buil lin g s .....................
3,814 34
Station and yard and im provem ents at Lon­
10,501 51
don, O nt..................... .............................................
D ocks at W indsor.....................................................
3JJ7 72
Real E state, M ontreal............................................
6,427 02
M iscellaneous (Owen Sound E levator). . . . . . . .
350 00
Terminals at Toronto :
Toronto real e s ta te ......................... $3,^85 41
A ccount alternative site .............. 83,730 53
---------------- 87,615 94

$138,496 29
Less t y sale of surplus lands purchased for
right of w ay and n ot required.........................
1,557 61
8
------------------ $136,938 68
A tlantic & N orth -West R a il w ay .
W idening cuttings, embankm ents, filling .
trestles, e tc ............................................................ $19,^72 11
N ote :
Additional stations, buildings and yard s.........
7,258 00
A gainst the above expenditures were received or are
Additional sid in gs................................................ 1 ,3 3 0 1 2
due in respect of work done in 1894 and previous
Additional fen cin g ........................ 1........................
1,980 83
Right of w ay and perfection of t itle ................
25,592 47
, years:
F or the R evelstoke Branch........................................................
$28,000 00 Perm anent b r id g e s ...............................................
86126
479,639 51 H eavy rails and fasten ings, less credit for
F or the Lake Tem iscam ingue R ailw ay...................................
lighter rails rem oved....... ..........................-----6,477 87
F or the Souris Branch.................................
2,275 00
2,351 88
EganviUe Branch (construction).......................
----------------65,524 54
$509,914 51
M anitoba S. W. Colonization R a il w ay .
Additional stations and b u ild in gs.......................
$97 76
S C H E D U L E “ E .”
Right of w ay and perfection of title ................
871 70
DETAILS OF EX PEND ITU RE ON ADDITIONS AND IMPROVE­ Additional fen cin g................................... . — . . . . , 3,167 85
Additional w ater su p p ly— ................ ...............
470 27
MENTS DURING 1894,
Widening cuts, em bankm ents, filling trestles.
3,000 79
Main Line.
-----------------7,608 37
Q u e b e c t o C a l l a n d e r (5 0 3 * 7 M i l e s ,)
Columbia & K ootenay R a il w a y .............................................
500 00
6,234 06
Montreal & Ottawa R a il w a y .................................................
A dditional sid in gs........................ ......................
$3,335 67
A dditional buildings, stations and yard s....
i l ,7 4 6 92
$216,805 65
H ea v y rails and fastenings, less credit for
lighter rails rem oved.....................................
57,873 42
W idening cuttings, embankm ents, .Ailing
tr e stle s.......... . . . . . ........... ....... 1 .....................
5,268 57
R E C E I P T S A N D E X P K 'D I T I I B E S 1 8 9 4 .
E levator at Q uebec.................................
1,869 62
RECEIPTS.
Coal chutes (Ottawa, Carleton and Chalk
Cash and Treasury ass ts on hand Dec.
R iver)..................................................................
4,551 08
31st, 1893.......................................................
$10,294,598 81
Im provem ents a t Three R ivers.............., ___
3,296 54
La»ci Department—
190 00
R igh t o f w ay and perfection of title ............
Proceeds of land sa le s..............$131,465 36
M iscellaneous......................................................
39176
Less can cellations..................... 91,093 27
P aym en t on purchase of Canada Central
R ailw ay............ .................................................
601 79
$37,372 09
22,097 17
E a st End Station, M ontreal....................
$111,222 54 Less: increase in deferred p ay­
m en ts........................................
1 0 ,2 1 1 0 6
C a l l a n d e r t o F o r t W i l l i a m ( 6 5 3 - 4 M i l e s .)
A dditional sid in gs..............................................
H eavy rails and fasten ings, less credit for
l i g h t e r r a i l s r e m o v e d ................ ...................

Additional fen cin g.................."..........................
Right of w a y and perfection of title .............
W idening cuttings, em bankm ents, filling
trestles, e tc ................... .....................................
P erm anent bridges.............................
Coal chutes (Chapleau and North B a y ).......

$1,748 44

$27,161 03
Collection of deferred paym ’n ts 114,572 40

5 ,7 2 5 6 2

73 97
90 00
95 ,2 9 1 70
51,798 89
2,829 70

Less: exp en d itu res...........

156,560 32

F o r t W i l l i a m t o D o n a l d ( 1 ,4 4 9 - 5 M i l e s .)
Im proving w ater supply.
$ 6 ,6 2 2 3 3
Perm anent bridges.
1 1 ,2 9 7 3 1
Right of w ay and perfection of title.
1 ,4 0 9 2 1
A dditional siding
9 ,8 3 5 6 2
A dditional fen cin g.......................... ..................
1 2 ,4 2 1 0 1

H eavy rail« and fastenings, less credit for
lighter rails rem oved......................................
Additional buildings; stations and y a r d s...
W idening em bankm ents, tilling trestles___
Coal pockets, Canmore.....................................
M iscella n eo u s........... ......... . . . . . . . . . . . . . . . . . .

- 9 ,4 9 5
1 3 ,5 7 1
1 2 0 ,1 7 1
» 5 ,2 2 1
350

57
98
91
82
96

190,397 72
D o n a l d t o P a c i f i c C o a s t ( 4 5 8 M i l e s .)

Car shops, yard and wharf, V ancouver.......
A dditional stations, buildings and y a rd s...
W idening em bankm ents. ...................
R ight of w a y and perfection of title ....... .
A dditional fen cin g ......................... ..................
A dditional sid in g s..............................................
Perm anent b ridges...... ............................ ..........
E xpenditure on G overnm ent
sectio n ...................................... $244,483 31
L ess—Am ount received from
Dominion Governm ent un­
d er award of arbitration. . .
42,693 00

$ l,c97 53
1 ,9 1 0 9 1
1 2 ,4 7 2 0 6

783 15
844 94
1 1 ,9 5 6 0 0

T otal on Main L ine..................... ...........................................




R c'l Estate—
Proceeds of sa le s....................... ......... ...............
10,188 17
Bonuses—
Dom inion and P rovincial Gov­
ernm ent subsidy on Lake Tem­
51
iscam ingue Col. R y........$479,639
D om inion Governm ent subsidy
on Revelstoke Branch Line. 28,000 00
Provincial G overnm ent subsidy
on Souris Branch...........
2,275
00
-----------------509,914 51
Am ount lefunded by Dom inion Govern­
m ent on account of am ount retained in
connection w ith construction of m ain lin e
12,686 32
Consolidated D henture Stock. 4 p ir cent.—
Amount, issued, £ 3 0 0 ,0 0 0 .............................. 1,460,000 00
Balance on. Town Site Sales—
Am ounts collected from d efen ed Paym ents
6,764 99
------------------ 2,068,414 39
$12,363,013 20
Ded uct—
Station and traffic balances and accounts
recivab le.....................
$2,040,254 37
M iscellaneous Securities an t A d van ces... 2,988,671 23
A dvances to Montreal & A tlantic Railway
formerly included in balance against
South E astern R ailw ay..............................
309,126 21

2,10S 77

2 0 1 ,7 9 0 3 1

$141,733 43
72,873
03
------------------$68,860 40

$5,338,051 81
Less: Am ount at D ecem ber 31st, 1 8 9 3 ... 4 ,6 4 6 ,9 2 1 1 0
--------------------233,763 67
$691,944 25

691,130 7 1
$11,671,882 49»

612

THE CHRONICLE

EX PE N D IT U R E S.
In terest on funded debt and rentals of
leased lin es due January 1st, 1894, and
accrued to th a t date, and dividend on
P reference Stock accrued to January
1 st, 1 8 9 4 ..........................................................
$1,849,226 27
526,731 32
D eficiency in revenue Statem ent, page 8 ..
D ividends on Preference Slock.
2% paid October 1st, 1894..................... .
$128,480 00
2% payable April 1st, 189 5 ...........................
128,480 00
256,960 00
1,270,000 00
Preference Stock re-assumed..................
D ividends on O rdinary Stock.
2*2% m ade D ec., 1893, and paid Feb., 1894.$1,625,000 00
2 1a%made June, 1 8 9 4 ,and paid A u g .,1894 1,625,000 00
3,250,000 00
646,937 62
Construction branch lin es (Schedule “ D ”)
Additions and im provem ents m ain lin e
730,102 22
and branches (Schedule “ E ”) ..................
Additions and im provem ents leased lin es
216,805 65
(Schedule “ F ”)........................................ .
401,907 20
B ollin g stock, shops and m achinery...........
H otels and other buildings at Vancouver
5,901 77
and other points, held in tru st..................
China and Japan steam ships and appur­
75 85
ten ances, expenditures................................
Town Sites.
Tow n sites, expenditure for
clearing, im provem ents, e tc .$88,040 37
L e s s : Proceeds of sa les............. 62,693 86
25,346 51

$5,927 97
4,234 62

1,693 35
454,583 69
$11,878,806 63
3 2 7 ,2 3 4 1 0

$11 551 572 53
Add Treasury assets Dec. 31st, 1 8 9 4 ......... $1,691,239 75
’
’
A m ount due from Dom inion and Provin­
cial G overnm ents................................... ......
333,121 00
$2,024,360 75
L ess: Am ount of accrued
fixed charges....................... $1,775,570 79
And Dividend on Preference
Stock paym ’t Apr. 1 ,1 8 9 5
128,480 00
--------- ---------- 1,904,050 79
--------------------

120,309 96

$11,671,882 49
STATEMENT OF EABNINGS FOB THE YEA R 1894.
From P assengers...........i ........................................................... $4,840,412
“ F r e ig h t ............................................................................ 11,445,377
% M a ils ......... 1.......................................................................
498,129
,r E x p r e s s .............................................................................
342,472
“ Parlor and Sleeping C a rs.............................................
331,719
“ Telegraph, Grain E levators and M iscellaneous,
including profit on Pacific Steam ships..................
1,294,056

33
78
16
29
69
46

$18,752,167 71
STATEMENT OF WOBKING EXPENSES FOB THE YEA B 1894.
Conducting Transportation..................................................... $3,016,505 22
M aintenance of Way and Structures........................
2,972,024 83
M otive P ow er.............................................................................
3,682,487 33
M aintenance of Cars.............................
868,402 98
Parlor and Sleeping Car E x p e n s e s.......................................
80,854 57
E xp en ses of Lake Steam ers...................................................
114,111 66
G eneral E x p en ses......................................
1,252,060 52
Commercial Telegraph.............................................................
3 4 2 ,4 1 1 5 2
$12,328,858 63
STATEMENT OF EQUIPMENT AT DECEM BEB 31, 1894.
L ocom otives.................................................................................................
584
F irst and second-class P assenger cars, B aggage cars and Colon­
is t sleeping cars......................................................................................
575
F irst-class sleeping and dining c a r s .................................................
99
Parlor cars. Official and Paym asters’ ca rs..........................
so
F reight and cattle cars (all k in d s).......................................................... 14,555
Conductors’ v a n s...................................................................................
297
Board, Tool and A uxiliary Cars and steam sh o v els.......................
543
Lake Steam ers “ Alberta,” “ A thabasca,” “ Manitoba,” “ Aber­
deen.” Ferry Steam ers “ O ntario,” “ M ichigan.” Paeiflo
Steam ships “ Em press of China,” “ Em press of Japan,” “ Em ­
press of India.”
DESCBIPTION OF FREIG H T CARRIED DURING THE YEARS.
D escription—
1892.
1893.
1894.
Flour, b bls.........................................* 2,480,563
2,514,163
2,439,418
Grain, bu sh ................................... . 29,309,887 23,636,715 25,314,827
Live-Stock, h ead ............................
375,292
332,589
468,218
Lumber, fe e t................................... 700,209,056 668,176,926 545,488,960
Firewood, cords..............................
145,280
170,294
174,020
M anufactured A rticles, ton s....... 1,055,533
1,114,195
968,352
A ll other A rticles, to n s................
898,501
978,193
864,615
FREIG H T TRAFFIC.
1892.1893.
1894.
Num ber of to n s carried---- .
4,230,676
4,226,959
3,891,804
Num ber o f ton s carried one
m ile......................................... 1,582.554,352 1,453,367,263 1,313,948,410
Earnings per to n per m ile.
0-84 cts.
0-87 cts.
0*87 cts.
PASSENGER TRAFFIC.
1892.
1893.
Num ber o f p assen g’s carried. 3,258,789
3,311,247
N um ber of passen g’s carried
« one m ile................................... 328,838,647 334,307,590
1-69 cts.
E arnings per p ass, per m ile. 1*69 cts.




ANNUAL REPORT FOR THE YEAR ENDING DECEM­
BER 81, 1894.
N ew Y o r k , March 6th, 1895.
The President and Board of Directors submit herewith their
ieport of the Company’s transactions for the year ending
December 31st, 1894.
MILES OF ROAD OWNED.

The Company owns the following miles of railroad :
M ain L ine—Ciudad Porflrio Diaz to D urango.......................540-44 m ile s.
Branches—Sabinas to H ondo....................................................... 12-43 “
Hornos to San Pedro................................................... 14-35 “
Pedricena to V elardena............................................. 5-82 “
T otal....................... ......... ................................................................. 573-04 m iles.
Sidings................................................................... ,............................ 56-89 “
Total m iles o f track ....................................................................... 629*93

EARNINGS.

1,316,924 18

B eduction in current liab ilities
D educt : M aterial on hand, decrease....... .

MEXICAN IN TERN A TIO N AL RAILROAD C O .

The road is of the standard gauge of four feet eight and
one-half inches. The lines are all well situated, boch with
reference to development and physical location, aad the gra­
dients do not exceed one per cent, which enables the Company
221,579 92 to handle a large tonnage at a minimum of expense. All the
important bridges are of iron, resting on masonry. All other
467,817 89 structures and appointments are ample and of substantial
236,213 19 character.

A dv a n ces.

Steam ship “ Prince K upert,” am ount ad­
vanced on construction o f .. .....................
M inneapolis St P aul <t> S. S. M arie Ry.
Am ount advanced on Capital A ccount___
D uluth South shore & A tlan tic Ry.
Am ount advanced on Capital A ccount___
D uluth South Shore & A tlantio By. on ac:
count Duluth & W innipeg B y ...................
Acquired Securities.
B alance for A tlantio & North W est B y. 1st
m ortgage bonds (E ganville branch)........
L e s s : Reduction in cost Minn. St. P aul’&
S. S. M. By. stock .............................. ............

Vol. LX.

1894.
3,009,015
260,804,129
1-85 cts.

The transportation earnings and expenses (in Mexican cur-»
rency) for the year have been as follows:
L a st Tear.
Increase.
Decrease.
This Tear.
$11,072 52
P asseng’r earn’gs. $208,551 86 $219,624 38
2 0 ,5 9 8 1 0
524 32
20,073 78
E xpress earnings.
.............
F reight earnings. 2,873,974 91 1,743,140 42 $130,834 49
19,896 99
5,376 87
.............
25,273 86
Car m ile a g e .........
Locom otive m ile­
4 ,6 8 1 9 1
3 ,3 1 1 2 2
age earn in gs__
7,993 13
7,094 02
4 6 4 41
.............
Telegraph earn’gs
7,558 43
16,391 84
10,191 49
6,200 35
Sundry earn in gs..
13,776 42
2 ,6 7 1 5 3
.............
Rental earn in gs..
16,447 95
5,729 93
2,682 73
3,047 20
In tem a t’l bridge.
T otal................ $ 2 ,1 6 9 ,1 2 1 4 7 $2,050,934 01 $118,187 46
Operat’g ex p en ... 1,281,815 83 1,301,394 33
.............

$ .............
19,578 50

Earn, over operin g e x p en ses... . $887,305 64 $749,539 68 $137,765 96
Earnings over operating exp., as ab ove....... $887,305 64
Exchange estim ated at 200 p.o.on purchases
in U. a. currency and charged to operat­
in g exp en ses at th at ra te................................ 209,838 66
———— ——$1, 097,144 3 0
13,712 42
Less stam p t a x paid..................................... .
L eaving in M exican ourrenoy....................
Which, converted into U. S. ourrenoy at the
rate of 53-13 oents for th e silver dollar,
would b e....... ......................................................
Add bal. for account of exp ress contraot___
In terest on d ep osits..............................................
M iscellaneous receip ts.................................—
Total U. S. ourrenoy.......................................
A gainst this is chargeable in U. S. our., viz.:
One year’s in terest on bonded d eb t................ $560,000 00
General ex p en ses......................................
10,112 85
----------------Balance, U. S. ourrenoy...............................

$1,083,431 88
$575,627 3 6
52,000 00
14,660 3 0
4,777 44
$647,065 10
570,112 85
$76,952 25

The above earnings in Mexican currency have been con­
verted into U. S. currency at the actual rate which the silver
dollar remitted during the year realized. This was 53-18 cents
as against 61’63 cents realized for the year 1893. Tnis decline
in the price of silver diminished the net earnings of the Com­
pany for the year 1894 in U. S. currency $91,983 36.
To show the Company’s transactions in Mexico, on the basis
of Mexican currency required to carry on its operations, it be­
came necessary to add. to purchases of material, etc , made in
the United States the exchange on the cost of such material.
The rate of exchange has been so nearly about 200, that for
convenience in accounting this rate was adopted on all such
purchases during the year 1894. This exchange has been in­
cluded in the price at which these materials have been charged
to the expenses of operation and therefore form a part of
these expenses. Practically the same net results for the year
would be reached if the exchange on these purchases were de­
ducted directly from the item of operating expenses, to which
it has been charged. This, however, would require material
to be carried in two currencies, which, in effect, would vary
the cost of service in the proportion in which material of each
currency entered into the item of expense, thus making the
statistics in respect to these expenses, for the purposes of con­
trolling them, valueless, and it was therefore thought best to
dispose of this exchange as above.
The net results from the year’s operations show an increase
in the gross earnings of $118,187 46, or 5 76 per cent, and a
decrease in operating expenses of $19,578 50, or 1 50 per cent,
making a total gain of $137,765 98, or 18’38 per cent, over 1893.
This is quite a gratifying showing when it is considered that
the general business depression in the United States, and the
low price of silver, have not been without their unfavorable
effect upon the year’s business.
On Table No. 5 are shown monthly the transportation earn­
ings and operating expenses. The gross earnings averaged
$8,785 29 per mile of road operated ; operating expanses,
| $2,237 04 ; leaving earnuus over operating expenses, $1,548 25.
*As the Company is exempt, under its concession, from all

THE CHRONICLE,

A pbil 6, 1895.]

taxes, except for stamps, there are no fixed charges of any
consequence to be met, and the entire surplus is available for
payment of interest on the capi'al invested in the enterprise.
The earnings and expenses in Mexican currency per revenue
train mile compare as follows :
1894.
*
1893.
G ross ea rn in g s................................................... - ..........$2*43*74
$2*18*67
O perating ex p en ses................................................... -- 1*43*96
1*38*75
------------ pjia- -----------E arnings over operating e x p e n s e s .................
99*78
79'92

The decrease of $11,072 52, or 5/04 per cent, in passenger
earnings resulted mainly from a diminution of through travel.
The earnings from local passengers formed 92 per cent of the
total earnings, an increase of $5,382 01, or 2'88 per cent, over
1893. The increase in local travel is quite gratifying, and this
class of travel will continue to improve as the people recover
from the effects of the long-continued drought, which was
broken by abundant rains during the summer. The connec­
tions for through passengers referred to in last year’s report,
were improved by a joint arrangement entered into with the
Southern Pacific Company and the Mexican Central Railway
on November 25, 1894, under which a through car service
over these lines was established.
There has been an increase in freight earnings of $130,83149,
or 7*51 per cent, over last year, an increase in the number of
metric tons carried of 41,533, or 12 39 percent, and an increase
in metric ton kilometers of 3,214,797, or 2'59 per cent. In coal
and coke there has been an increase of 46,568 tons, or 36'71
per cent, and in ton kilometers of 35*38 per cent. In local
freight there has been an increase of 7,915 tons, or 6 01 per
cent, but a decrease in the average length of haul, reducing
the ton kilometers carried 16*60 per cent. In through freight
there has been a decrease of 12,948 tons, or 16*87 per cent, and
in ton kilometers of 39'39 per cent. On table No. 9 will be
found the classification of the character of the freight moved,
and the changes in them between the years 1894 and 1893.
This will b e of interest as illustrating the development of the
local resources and commercial prosperity of the section of
the republic served by this Company’s line. During the year
173,409 tons of coal and coke have been carried, which does
not include Coal transported for Company’s use. There were
shipped to the United States during the year 2,286 car-loads
of coal and coke against 1,487 for 1893.
The shipments of silver, lead and iron ores and bullion
amounted to 4,228 car-loads, an increase of 611 over last year;
3,883 oar-loads were hauled to neighboring smelters, an in­
crease of 1,353 car-loads over last year. Of these shipments
all 1 ut 128 car-loads were contributed from mines adjacent or
tributary to this company’s road. The remaining 345 car­
loads were shipped to the United States.
Of the 23.225 bales of cotton hauled during the year 13,132
were imported from Texas and 10,093 were grown upon the
line of this road. Floods in August and September delayed
the picking of domestic cotton, much of which it is expected
will be moved during the year 1895. In addition to the above
movement of cotton, there have been shipped 162 car-loads of
cotton-seed, 83 car-loads of cotton-seed meal and 54 car-loads
of cotton-seed hulls. The erection of a cotton gin at Nava,
near the frontier, has stimulated the development of cotton­
growing in that region, and an increased production has been
marketed each year.
In 1893 1,228 car-loads of corn were brought into the repub­
lic from the United States, and but 450 cars of native corn
were hauled. In 1894 only 10 car-loads of corn were brought
in from the United States, and this year 980 car-loads of native
corn were hauled. There have been hauled also 199 car-loads
of wheat, 61 car-loads of beans and 334 car-loads of piloncillo,
all of which is produced and consumed within the Republic.
There have been also hauled 493 car-loads of foreign and 186
car-loads of domestic lumber and timber. Thus far all native
lumber finds a ready sale, and the industry promises to show
considerable increase. There were moved also 388 car-loads
of native live stock, 28 car-loads of sotol (used in feeding
stock) and 78 car-loads of bones.
The decrease in the earnings of the International Bridge re­
sults from a diminution of international traffic which has fol­
lowed the depreciation of the monetary values of silver. The
imports into Mexico from the United States have diminished
from 4,510 car-loads of merchandise, having a value of $2,526,833 in Í893, to 2,459 car-loads of merchandise in 1894, having
avalué of $1,480,266 only,¡a decrease of $1,046,567, or 41*41 per
cent. The changes in the remaining earnings have been but
slight and are explained by their titles.
During the year there were transferred, at junction points,
1,132 cars at a cost of $1,772 26; but by this transfer an actual
saving has been made of $11,881 36 in Mexican currency.
OPERATING EXPENSES.

613

The decrease in the expenses for motive power resulted
mainly from a decrease in the train mileage above referred to
from the improved character of water used and other additions
and improvements made to the Company’s property by which
the cost of operation was cheapened In locomotive hire there
has been a decrease of $4,703'27; in repairs of water stations
$2,355*88, and in water supply of $10,970*54, resulting mainly
from the building of pipe lines. The year closes with 25*50
miles of pipe lines completed. The improved character of
water secured by these lines has materially aided in reducing
the expenditures for repairs of boilers, which have been quite
large.
The operations of the ComDany’s foundry continue quite
satisfactory. There were made during the year 559,459 lbs. of
iron castings and 56,874 lbs. brass cistings. The advantage
to the Company in having this foundry secures castings at a
moderate price, and saves much time in the prompt replace­
ment of necessary parts to rolling stock and machinery, which
is not possible when orders have to be placed outside and
await their turn in being filled.
The Company owns 46 locomotives. Their size and condi­
tion at the close of the year, the general character of the
repairs made on them during the year, and their cost of main­
tenance is fully shown on Table No. 10.
The decrease in expenses for maintenance of cars was prin­
cipally in mileage of foreign cars, $2,933 28; in repairs and
expenses of sleeping oars, $8,451 09; in repairs of foreign
freight cars, $5,745 74, There wa8 an increase in expenses for
repairs to passenger equipment of $1,476 23, and in repairs to
freight cars, $2,147 23, and this equipment is now in better
condition than it was a year ago. The Company owns 26
passenger and 1,430 freight cars of all kinds. Their charac­
ter and condition, at the close of the year, the general charac­
ter of repairs made on them during the year, and cost of
maintenance, is more fully shown on table No. 11.
The increase in exp mses for maintenance of way was
principally in renewal of ties, $8,976 97; in fencing, $1,928 28;
in rails and fastenings, $6,380 54; in repairs of roadway, cars
and buildings, $4,882 23; in removing grass and weeds,
$3,597 83; and in timber trestling, $9,247 79. There were put
in the track during the year 53,236 cross-ties, equal to 18*88
miles of new ties, or 3*29 per cent of the total number of
cross-ties in the main line. Of the above number of ties
4,011 were burnettized, and it is intended to make future re­
newals with burnettized ties as they can be obtained. In re­
pairs and renewals of timber trestling, 391,573 feet, B. M.r
lumber were used and 1,593 lineal feet of timber trestles were
renewed. During the year 981 car-loads or 6,000 cubic feet
of riprap were used to protect the road-bed. This protection
to the track, has been extended each year, and has been of
great advantage in holding the road-bed against the occasion­
al and exceptional rainfalls, which in former years frequently
interrupted the running of trains for several days.
The increase in general expenses is principally in salaries
and expenses in the General Office at Ciudad Porfirio Diaz,
resulting from the termination of arrangements heretofore
existing by which the Alamo and the Coahuila coal compa­
nies contributed to the General Office expenses for services
rendered them by this Company; a n i in repairs of the Com­
pany’s dwelling-houses and hotels.
CONSTRUCTION AND IMPROVEMENT.

There has been expended in Mexican currency for c in­
struction and improvement the sum of $72,070 63 for equip­
ment $2,016 16, and for real estate $5,321 87, a total of $79,408 66, which has been charged to the capital account of the
Company. The details of these exoenditures are more fully
shown on Table No. 6. Theprincipal items therefor are bridge
masonry at Kilome er 258, $1,029 11; cattle guards and cross­
ings between Trevino and Sauceda, which is rapidlv develqpiug into a grazing country, $1.700 99 ; for fencing on b>th
sides 17*62 kilometers right of way, $4,530 55 ; for enlarging
hotels at Jaral and Torreon and for two additional brick cot­
tages at Torreon, for stock pens at Trevino, Etpinazo and
Tapona, $2,754 73; for 2*03 additional kilometers sidings
(less *60 kilometers taken up), $6,028 55 ; for shop machinery
and tools at Ciudad Porfirio Diaz, $6,698 65 ; for enlarging
and building additional timber trestles, for additional water
way, aggregating 498 lineal feet in length, $11,497 33 ; for
improvements in yard at Ciudad Porfirio Diaz, Monclova,
Jaral and Torreon, $2,031 03 For water s ipply tnere has
been expended $32,200 49; of this sum $28,818 25 is for the cost
of the 11*50 miles of pipe line between Monclova and Castano.
Wells have been deepened at Kilometer 63, 168 and 314, new
wells dug at Kilometer 542 and Torreon, pump houses en­
larged at Sabinas and at Kilometer 260, coal oin for pump at
Kilometer 166, tanks at Monclova and Adjuntas.

CONNECTIONS A N D EXTENSIONS.
The operating expenses have absorbed 59 09 per cent of the
At Ciudad Porfirio Diaz connection is made with the rail­
gross earnings, against 63 40 per cent in 1893 They are
$19,578 50, or 1*50 per cent less than in 1893, although the rate road system of the Southern Pacific Company and to all points
of exchange on purchases in the United States has been 200 in the United States. At Trevino, connection is made with
the Monterey and Mexican Gulf Railroad, making the only
against 150 in 1893. These expenses have been as follows :
For
This Tear.
L a st Tear.
Increase. Decrease. standard-gauge all-rail route to Mooterey, the leading smelt­
Con du et’g transp’n. $304,877 06 $312,049 84 ................ $7,172 78 ing-point in Mexico, and a large industrial centre; and through
M otive p o w e r ..........
447,457 20
512,987 92 ................ 65,530 72 this connection is secured the mo3t direct all-rail line to Tam­
M ainten’c e o f ea rs..
130,553 12
144,958 59 ................ 14,405 47 pico, at present the only advantageous harbor on the Gulf
M aiuten’oe of w a y ..
281,556 20
251,069 30 30,486 90
coast of Mexico. At Monterey also connection is made with
117,372 25
General ex p en se s...
80,328 68 37,043 57
the Mexican National (narrow-gauge) Railroad, from Laredo
T otal..................... $1,281,815 83 $1,301,394 33 .................$19,578 50 to the City of Mexico.
The decrease in expenses for conducting transportation re­
At Torreon connection is made with the Mexican Central
sulted mainly from a decrease in revenue train mileage of Railway, running from El Paso to the City of Mexico, and
47,551 miles, or 5 07 per cent.
with its several branch lines.




THE CHRONICLE.

614

Durango is the centre.of industrial and mining enterprises
for a very large area, and one of the largest and richest mining
districts in the Republic of Mexico. This city contains about
40,000 inhabitants, and controls a large traffic from the port of
Mazatlan, on the Pacific, and is the main point of distribution
to and from all the region lying upon the western slope of the
Sierra Madre Mountains. This Company’s line is the only
means of railroad communication between Durango and other
parts of the Republic.
During the year locations were made and plans approved
by the National Executive for the extension to the Pacific
Ocean which the contract with the Government gives to the
Company. The route selected is from Monclova via Cuatro
Oienegas, Jimenez and Paral through Culiacan to the port of
Mazatlan. Heretofore grading had been done on 139 kilome­
ters of this line, and on December 26th track-laying was begun,
and has since been progressing steadily. _This line passes
•Sierra Mojada, one of the most important silver and lead ore
regions in Mexico, from whose mines the road received, in
1894, 2,260 car loads of ore for Monterey by the circuitous
route via Escalon and Torreon. It is the intention of the
Company to bring sections of this line into operation as rap­
idly as completed in order to assist in the development of
other important mining camps located in its vicinity, from
which last year 550 car-loads of ore reached the road by wagon
haul to Montclova.
The development of the mining regions adjacent to the
road and the consequent ore tonnage secured, has led to the
location of a branch to Monterey, the plans for which have
been approved by the Government, and the grading on which
has begun. This line will enable the railroad to move
ore from the various mines to the important smelting works
ut Monterey, as well as afford the road desirable connections
with the other railroads there, from which desirable ores not
yet developed on the line of the International can be drawn
on to this road. With these extensions completed there is
reason to believe that offers made to this Company for
the establishment of a smelter upon the Sabinas, which lo­
cality is of advantage from the proximity of abundant water,
ooal and coke, will be accepted and the enterprise be devel­
oped at an early date.
MEXICAN EMPLOYEES.

Continued satisfaction results from the employment of
citizens of Mexico in the company’s service. They have charge
at several stations and occupy many positions of responsibil­
ity in the general offices. At the end of the year over 60 per
cent of all employees were Mexicans. They are performing
duties in every branch of the service, and every opportunity
is given them to become proficient in their work, and they
are advanced from time to time as their progress warrants.
They receive generally better remuneration for their services
thon is obtainable from other local industries, and there are
more applicants than vacancies, those who become accustomed
to the service preferring to remain than to return to former
cccupations. With the additions lately made to the machin­
ery of the shops many foreign mechanics have been dispensed
with, and their work is now being done by Mexicans in an en­
tirely satisfactory manner. Mexican masons are working on
bridge piers, and painters and carpenters are at work at dif­
ferent points on the road. Apprentices to the different trades
are selected when vacancies occur from boys who have been
well recommended to us by the civil authorities or others, so
that they will finish their apprenticeships at the age of about
twenty or twenty-one years.
It may not be inappropriate here to mention that at the
■close of 1894 the number of Mexicans on the pay rolls of this
company and the other enterprises affiliated with it in Mexico
was 2,156.
HOSPITAL FUND.

To ensure proper medical care and other attention to the
Company’s employees in cases of accident and illness, a hos)ital service was organized some time ago. A hospital is
ocated at Ciudad Porfirio Diaz and hospital wards have been
established at Torreon and Durango, and the service has been
highly satisfactory to the employees.
*
*
*
*

i

GENERAL REMARKS.

The club, the houses and the various hotels provided by the
Company for the use of its officers and employees have been
maintained and continue to be appreciated by all who use
them. Several new cottages have bsen erected at various
points along the road during 1894, and as such investments
yield a moderate return on their cost, and afford comforts to
those in the service of the Company which cannot otherwise
be secured, the erection of residences will be continued until
the demand is fully met.
The following table, appearing in the report for 1893, is ex­
tended to 1894, and is a gratifying index of the prosperity of
the country developed by the construction of these lines :
A ver, m iles
Gross
Tears.
operated.
earnin gs
1 8 9 4 ......... - ......................
573-04
$2,169,121 47
1 8 9 3 .................................. 5 7 3 0 4
2,050,934 01
1 8 9 2 ................................. 463-79
2,095,726 14
1 8 9 1 ................................. 4 0 9 6 6
1,197,856 55
1 8 9 0 .................................. 396 64
1,126,366 41
1 8 8 9 ............................ .
395 42
911,698 51
1888 .............................
356-66
6 5 6 ,7 8 1 4 1
1887
170-00 2 3 7 ,3 9 4 1 3
1886 ................................
170-00
185,150 25
1885 ............................... 170-00
153,916 18
1 8 8 4 .................................. 152-37
103,307 98

Aver, earns,
p e r m ’le.
$3,785 29
3,579 04
4,518 67
2,924 02
2,839 77
2,305 64
1,841 47
1,396 43
1,098 11
905 39
569 42

No report of the events of the year would be complete with­
out mention of the break in the long drought which has pre­




[VOL.

LX.

vailed thoughout Northern Mexico for several years past.
During May the first rains fell, the rainfall at the frontier dur­
ing that month being over five inches. Later other portions
of ^the country through which the road passes enjoyed the
rains, so that by the end of the summer changed conditions
existed throughout the whole territory. These rains caused
washouts, which involved the road in considerable expense in
restoring the track. But such expenses were cheerfully borne
for the benefits from the rains w ill be felt by the people of
the country and the railroad throughout the whole of the
present year.
A large and important addition to the industries adjacent to
the railroad has been developed in the acquisition by the
Fuente Coal Company of a large coal area adjoining the rail­
road four kilometres from the Rio Grande. Operations were
begun by the company in June, and already these mines are
being actively worked, and during the seven months of the
year there have been 1,216 car-loads of coal transported from
this property to market.
CONCLUSION.

As the review of the business, events and experiences of
the year is thus set forth, and the property passes into its
second decade of existence, some concluding comments may
he appropriate.
During the period of operation the relative values of the
Mexican and the United 'States dollars have varied from a
ratio of 115 per cent to 200 per cent'; so that whereas the dol­
lars earned 87 cents in American money prior to 1884, the
same dollar yielded a fraction over 50 cents American in
1894. Yet, in the face of this marked disparity in values,
there has been steady progress in the revenue capacity of the
country where the property is situated. When the great
depression in the value of silver occurred, in the summer
of 1893, serious consequences to the property were feared.
Events have not only dispelled such apprehensions,
but they have demonstrated that although the in­
vestment has been made in United States dollars, the re­
sources of the country traversed by the road are sufficient, with
the closest economy and conservative management, to give
reasonable assurances that the interest upon the investment will
be earned. The reasons for such favorable conditions are not
found wholly in the natural advantages of Mexico, for the
country has endured for three past years a protracted season
of drought which is almost unparalleled in the memory of the
present generation. But, in the councils of the nation at the
capital, there exists a wise provision in meeting the exacting
condition wnich the low value of silver abroad has forced
upon the country. Thus a wise policy has been formed by
President Diaz, and cordially joined in by his Cabinet and
Congress. There have been some increases in taxation which
all the people have felt but have borne with resignation be­
cause the purposes of the Government could be understood by
all. But, offsetting these burdens, there has been a great
stimulus to home production and foreign shipments, until
everything that can be produced at home is in full demand,
and what is not consumed in the country is shipped abroad to
realize a gold value for a silver-paid production. Toward the
railroads of the country the policy of the Government has
been most liberal, large subsidies having been granted to all
important lines but the International. Yet, while with the
increase of intercourse between railroads and the public there
has arisen the desire for restraining regulations, there has ever
been manifest the fullest respect for the chartered rights of
this Company, whose investments have been made without
Government contribution of any sort, and a willingness is
shown to recognize the obligations of the Government to co­
operate with tbe railroad to rrotect those r’ghts from injury
so long as the reasonable requirements of the people for ap­
propriate facilities are supplied.
1 here is little occasion to fear that the forces which cause
so much disquiet among the employees of railroads in the
United States can make themselves felt on the railroads in
Mexico. For, while this railroad employs, and doilbtless al­
ways will employ, a large number of men trained outside of
the Republic, the development of the road has been so grad­
ual that selection could be made, and a body of men has thus
been chosen who are of higher intelligence and wider ex­
perience than is apt to be the case among larger aggregations
of employees. Many of these men belong to the various or ganizations which flourish in the United States, and no re­
straints in this respect are attempted by the Company. But,
with full attention given to all their requ sts, all employees
have learned of the narrow margin upon which the road has
been operated, and a readiness has been manifested to co­
operate with the owners rather than attempt by strikes or
other arbitrary methods to enforce improvements, which,
from their knowledge and intelligence, they realize are unat­
tainable, by a straggle which, while expensive to the Com­
pany, experience shows results almost always against the
individual.
With these comments, it remains only to report that the
year closes with the Company’s property in excellent physi­
cal condition, for which, as well as for all the satisfactory
results above set forth, the Board of Directors expresses its
thanks to Mr. L. M. Johnson, the General Manager, and to
every official and employee whose co-operation has contrib­
uted to them.
By order of the Board,
C. P. HUNTINGTON,
President.

THE CHRONICLE.

A pr il 6, 1895 ]

© t fm

m m

x a l

615

% x m zs.
Th e Movem ent

of

C O T T O N .
F r i d a y N i g h t , April 5, 1895,
t h e C r o p , as indicated by our telegram»

from the South to-night, is given below. For the week ending
this evening the total receipts have reached 116,767 bales,
F r i d a y N i g h t , A p r il 5, 1895.
against 115,470 bales last week and 123,4 33 bales the previous
No changes of pronounced character have developed in the week; making the total receipts since the 1st of Sept.? 1894,
general business situation during current week. Buyers con­ 7,343,785 bales, against 5,522,235 bales for the same period of
duct negotiations in a careful manner and with an expressed 1893-4, showing an increase since Sep.l, 1894, of 1,821,550 bales.
determination to abstain from entering upon unnecessary
Wed. Thürs. Fri.
Tues.
Total.
Mon.
Sat.
Receipts at—
obligations, but natural seasonable requirements of trade
1,984 15 ,9 9 9
3,605
3,136
986
3,669
2,619
G
alveston.........
compel the purchase of comparatively full assortments of
792
1,166
374
stock and serve as an influence to gradually expand the
movement of general merchandise. Speculation in staple New O rleans.. 8,943 4,511 8,030 9,321 4,749 11,052 4.6,606
211
92
593
2 ,192
780
138
378
commodities has been lighter and operators manifest some in­ M obile...............
755
755
clination to realize upon previous investments. Quite wide­ F lorid a.............. ...... ...... ...... ...... ......
785 1,437 13,122
spread rains have afforded much needed benefit to fall-sown S avan n ah ......... 2,350 1,671 4,410 2,419
1,621
Brunsw ’k, &o. ...... ...... ...... ...... •••••• 1,621
grain and facilitated spring planting of wheat in localities pre­
204
2,489
54
255
368
271 1,337
viously suffering from drought. Navigation was reopened C harleston.......
112
112
P t. Royal, &o. ...... ...... ...... ...... ......
upon the upper portion of Hudson River during the week.
2,506
92
81
101
2S0 1,798
144
The following is a comparative statement of stocks of lead­ W ilm in gton ....
5
5
ing articles of merchandise at dates given •

COMMERCIAL

EPITOME.

A p ril 1,
1895.

March 1,
1895.

P o rk ... . . . . . . . . . . . . . . . . . . . . . bbls.
L ard ......................
tea.
Tobacco, dom estic............ hhds.
Tobacco, foreign............... bales.
Coffee, Rio............................bags.
Coffee, other........................ bags.
Coffee, Java, &o................ .mats.
Su gar..................................hhds.
Sugar.............................bags, &o.
Molasses, foreign.............. hhds.
H id es..................................... No.
C o t t o n .......................... bales.
Rosin..................................... bbls.
Spirits turpentine................bbls.
T a r .. .. .. .. .. .. .................... bbls.
Rice, £ . I ..............................bags.
Rice, domestic....................bbls.
Linseed.«............................ bags.
Saltpetre.............................. bags.
Jute butts....... ...................bales.
Manila h em p .... .........b a le s .
Sisal hemp..........................bales.
Floor.......... ....b b ls. and sacks.

12,629
14,868
15,791
65,770
167,523
40.39 L
10,631
224
252.394
None.
49,400
177,055
30,746
1,469
2,990
11,500
1,500
None.
3,500
2,000
14,796
12,555
158,300

13,894
24.198
16,051
60,648
162,005
59,349
18,730
214
258,439
173
51,100
207 9 *7
30.774
1,602
3,935
32,100
1,850
None.
3.500
2,750
30,685
17,866
152.400

A p ril 1,
1894
11,553
11,737
14,399
50,040
187,185
29,730
74,629
3,283
96,125
None.
163,600
250,304
28,605
2 ,'7 9
732
18,000
3,700
None.
6,600
6,0 0
1,750
9,761
218,100

Lard on the spot has sold slowly and prices have declined,
closing quiet at 7,17%c. for prime Western, 6%@6%c. for
prime City and 7*60c. for refined for the Continent. There
has been no trading in the local market for lard futures but
prices have declined in response to weaker advices from the
West, where “ lon gs” have been selling to realize profits.
DAILT CLOSING PRICKS OP LARD FUTURES.

Sat.
A p ril.................................... C. . . . .
M ay....................................e. 7 ’40

Mon.
7-30
7*40

Tues.
7-30
7 40

Wed. lh u r s .
7-20
7-20
7 30
7 30

Fri.
7-17
7 25

Pork has been in light request and prices have declined,
closing at $13 25@$'B 75 for mess. Cut meats have been
quiet. Tallow closed lower, with sales at 4%c. Cotton seed
oil has been model ately active and steadier, closing at 23@
24c. for prime crude and 26%c. for prime yellow. Butter
has been dull and the close was easy. Cheese has been quiet
and unchanged. Fresh eggs have been steady.
Raw sugar sold fairly at steady rates, without new features
of importance. Centrifugal quoted at 3c. for 96-deg. test
and muscovado at 2 ll-16c. for 89-deg. test. Refined sugars
very dull and cost unchanged; granulated quoted 4%c. Teas
active and firm.
Coffee steady for choice quality but faulty goods urged for
sale and weaker in price. Rio quoted ,16% ^ for No. 7, good
Cucüta at 19%c, and staple Java at 26c.@26%c. Contract
dealings slow, with some pressurj to realize upoa long engage­
ments and prices tame, closing still in buyers’ favor.
The following were the final asking prices:

1,341
907

1,365
1,455

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

......

.....

Boston ..............

904
248
75
1,443
954

892
2,367

776
1,586

640
1,762

1,115
776

Philadelphia &c

3,580

127

427

72

592

Norfolk..............
W est P o in t...
N’port N ., &c.




5,291
4 ,3 5 5
879
4,866<
8,551
314
5,938

321
900
804

527
398

1,106
314
1,140

Tot’ls th is w eek 23,479 18,350, 19,642 19,503 12,517 2 3 ,2 7 1 1 1 6 ,7 6 7

The following shows the week’s total receipts, the total since
Sept. 1. 1894. and the stock to-night, compared with last year.
1894-95.
This Since Sep.
Week. 1 ,1 8 9 4 .

1893-94.
This Since Sep.
Week. 1 ,1 8 9 3 .

G a lv esto n ... 15,999 1,595,342
1,166
66,691
V elasco, &o.
New Orleans 46,606 2,400,642
2,192 227,968
Mobile...........
24,507
755
F lorid a.........
S av a n n a h ... 13,122 893,057
1,621 145,929
Br’wiokj&o
C harleston..
2,489 414,404
112 140,142
P .R oyal,^ j
Wilmington..
2,506 232,408
923
Wasn’n, &c
5
N orfolk........
5,291 444,910
W est Point
4,355 272,485
38,800
N ’p’tN .,& o
879
New Y o rk ...
4,866 127,772
99,276
8,551
Boston .........
3L4 107,436
B altim ore...
5,933 111,093
Philadel.,&o.

5,139 965,158
35,936
398
16,242 1,753,401
2,289 190,173
32,254
945
7,868 906,916
3,274
77,016
1,229 329,399
67,884
4,633
743 187,274
499
3,584 440,050
2,128 227,130
52,364
802
68,705
2,203
88,518
53,284
2,356
46,274
441

T o ta ls........ 116,767 7,343.785

54,279 5,522,235

Receipts to
A p ril 5.

Stock.
1895.

1894.

78,374

48,183-

301,219
27,781

1 9 0 ,7 3 4
23,1 9 8

57,968
5,537
40,167

5 9 ,3 4 2
232
3 8 ,3 7 0

17,396

9 ,9 3 9

50,162
8,921
1,167
225,024
21,000
25,223
12,987

48,845
6,122
1,441
246,251
7,500
20,643
14,153

872,926

714,953

^...
....

In order that comparison may be made w ith other years, w e
give below the totals at leading ports for six seasons.
Receipts at—

1893.

1894

1895.

1892.

Galves’n,<feo.
New Orleans
M ob ile.........
S avan n ah ...
Ghar’ton,&o.
Wilm’ton,&o
N orfolk .......
W. Point,&c.
All o th e r s...

17,165
46,606
2,192
13,122
2,601
2 511
5,291
5,234
22,045

5,537
16,242
2,289
7,868
5,867
743
3,584
2,930
9,219

6,037
17,872
1,116
7,045
2,525
1,116
6,943
1,773
7,142

3,887
24,238
1,342
11,784
2,030
626
6,668
6,555
6,828

Tot. this w k.

116,767

54,279

51,569

63,958

A pril.................1 4 #70o. I Ju ly.........
14*50o. | O c t ............... ..14*45c.
M a y . . . . . .......... 14 50c. A u g.. . . . . . . . . . . 14‘45e. N o v . . . . .............1 4 ’30o.
J u n e ....... ..........14‘45o. | S ep t.. . . . . . . ,...14*45c. | D e c . . . . . . « . . . . . . 1 4 ‘23c.

Kentucky tobacco has been quiet but steady; lugs, 2%©5c.;
leaf, 5@14c. Seed leaf tobacco has been less active and prices
have been barely maintained; sales for the week were 1,150
cases, as follows: 100 cases 1892 crop, New England Havana
seed, 16@35c.; 200 cases 1893 crop, New England Havana seed,
7@10c,; 200 cases 1893 crop, Zimmer’s, 10@ll%c.; 200 cases
1892 crop, Wisconsin Havana, ll@12%c ; 200 cases 1893 crop,
Pennsylvania Havana, 9% @ llc.: 50 cases 1892 crop, Penn.
Havana, 11c., and 200 cases 1892 crop, Penn, seed leaf, 8%
@ llc.
The trading in the market for Straits tin has been quiet and
prices have declined under some selling by “ longs” to realize
profits and in response to weaker foreign advices, closing at
1375c. Ingot copper has been quiet but steady at 9‘35@9‘4ftc.
for Lake. Lead has declined and the close was easy at 3 07%
@3 lCc for domestic. Spelter has further advanced and the
close was firm at 3'20@3'22%c. for domestic. Pig iron in fair
demand and steady, closing at $9 50@$12 for domestic
Refined petroleum has advanced, closing at 7*5»>c. in bbls.,
5c. in bulk and 8 25c. in cases; crude in bbls. has been un­
changed, Washington closing at 7c. in bbls. and 4 ,50c. in bulk;
naphtha, 7‘75c. Crude certificates have further advanced,
closing at $1 16% asked. Spirits turpentine has declined,
closing at 32@32%c. Rosins have been easier, closing at
$1 52%@$i 57% for common to good strained. Wool has
been in better demand and steady. Hops quiet but steady.

833
447

1891.

1890.

9,671
18,218
3,576
12,579
8,882
919
7,293
4,363
7,913

2 ,2 2 5
8,136
1,225
1,659
383
69
950
1,296.
7,627

73,413

2 3 ,5 7 0

Since Sept. 1 7343,785 5222,235 4618,136 6576,069'6370,512 5632,608

The exports for the week ending this evening reach a total
of 127,763 bales, of which 41,104 were to Great Britain, 25,982*
to France and 60,677 to the rest of the Continent. Below are
the exports for the week and since September 1,1894.
Exports
G alveston .......
New O rleans..
Mobile & P e n .
S a v a n n a h .......
Brunswick.......

From Sept. 1,1894, to Apr. 5,1895'
Week Ending April 5.
Exporte i to—
Exported to—
ContiGreat
Conti- Total Great
lotal.
France
France
nent.
Brit’n.
nent. Week. Britain..
7,836

6,258

7,729 21,8 51
900
900
13,2:6 13,3'jO 29,118 55,693
2,843

7,413
1,750

W ilm ington.
N orfolk...........
W est P o in t ....
New Y ork. ..
Boston............
Baltim ore.. ..
Philadelp’a ..

1,9 2
7,050
5,833
3,438
3 /4 2

1,016 10,041
488
684
2,567
150

754,991 204,723

723,740 426,475
81,251
63,132 27,100
10,256
74,745
1,750 242,864 13,780
55,044 4,160
1,902 133,097
70,871
31,069
19,307 353.590 31,455
5,721 194,500
6,591
87,158 0,097
39.316
....
3,792

320,602 1,280,316
5 913
52.913
572 7101,722,925
21,105 102,358
410,354 500,648.
22,830
97,575
204,127, 400,777
133,091 192 295
30,655 163,752'
36,287 107,158
31,069
196.953 581.998
2,311) 198.817
105,121 198,376
13,399
52.715.

T otal............. 41,104 25,682 60,677 127,763 2,907,374 713,856 2,1^,4585,713,688:
T otal. 1893-94. 25.088 22,036 43,692 90.816 2,547.327* 569,322ll,362,708 4.479^585

*

* Including Port Royal.

CHE CHRONICLE.

616

¿VOL, L X 1

In addition to above exports, our telegram s to-n igh t also
give us the follow in g am ounts of cotton on shipboard, not
oleared, at the ports named. W e add sim ilar figures foi
N ew Y ork, w hich are prepared for our special use by Messrs.
Lambert & Barrows, Produce E xchange B uilding.
ON SHIPBOARD, NOT CLEARED—FOR
A p r il 5 a t—

Other Coast­
Great
B ritain. France. Foreign wise .
2,261
10,374
500
800
None.
7,500
None.
None.

46,680
35,294
12,500
5,800
11,000
26,000
24,775
13,000

254 539
4 3 .0 -0
45,468
34,367
16,781
24,162
200 249
79 231

76,133

21,438

175,049

697,877

150 30,263
6,724 37,515

13,583
10.175

86,567
80,470

628,386
715,776

15,236
20,312
None.
None.
3.000
10.500
11.500
7.000

6,169 23,012
971
3,637
None. 12,000
None.
5.000
None.
8.000
8,000
None.
125 13,150
6,000
None.

Total 1 8 9 5 ...

67,548

9,930

Total 1 8 9 4 ...
Total 1 8 9 3 ...

42,571
26.056

N ew O rlean s...
G a lv e sto n ......
S a v a n n a h ......
C h a rlesto n .....
M ob ile_____ _
N o rfo lk .............
N ew York.........
Other p o r t s ....

Leaving
Stock.

Total.

Speculation in cotton for future delivery at this market has
been slow and cautious. No new features were developed
o f sufficiently stim ulating character to attract new in vest­
m ent, and the apparent pow erful control of near-by options
served to check ventures upon the short side. Reports of late
planting and reduced acreage were circulated freely upon the
Exchange. On Saturday there was a quick advance of 10
points on a covering demand, stim ulated by foreign new s ap
parently indicating prospects o f speedy peace in Far East and
the assumption that the English goods trade w ould be benefitted through that influence. D uring Monday, however, it
was discovered that no fresh investm ent cam e into the marr
ket, and although the bulls held values fairly steady an im ­
pression prevailed that som e “ long” engagem ents were under­
going quiet liquidation. Tuesday’s m arket was irregular, at
one tim e losing 5@7 points in absence of demand and under
less promising accounts from abroad, but a recovery was
forced before the close. W ednesday also opened easier, f o llow ed by recovery, the market appearing subject in the main
to local manipulation. Y esterday there were few invest­
m ent orders and ligh t covering, w ith prices w eak, closing at
5 points net loss. To-day the market opened w eak under
tam e foreign accounts, but recovered and closed at sm all net
gain on loss of stocks a t interior towns. Cotton on the spot
dull at 6%c. for m iddling uplands. By special vote the E x ­
change is to be closed on April 12 and 13, in observance of
Easter holidays.
'
The total sales for forward delivery for the w eek are 516,600
bales. For im m ediate delivery the total sales foot up th is week
4,784 bales, including 301 for export, 1,383 for consum ption
— for speculation and 3,100 on contract. The follow in g ar
the official quotations for each day of the past w eek—
March 80 to A pril 5.
Rates on and off m iddling, as established N ov. 22, 1893,
by the Revision Committee, at w hich grades other than
m iddling may be delivered on contract:
F a i r . . . . . . . . . ....................o. l
Middling) F a ir ....................
Strict Good M iddling.......
Good M id d lin g ................
Strict Low M iddling.........
Low M iddling......................
Strict Good Ordinary.......

T4 on.
7s on.
*« on.
616 on.
316 ofl.
7,6 off.
l i ;Off.

Good O rdinary., j ........... o. 1*6 off1
Good Middling T in g ed ...
Even •
Strict Middling S ta in ed .. 7», «ff
Middling S tain ed .............. ’ n off
Strict Low Mid. S tain ed .. 2932 off
Low Middling Stained__ off

On this basis the prices for a few of the grades would bi­
folio ws:
UPLANDS.

M o il T u e s W e d

S a t.

Th.

514 ~ 5 ÎT
514
514
ftl6le 515,e 515,6 515ie
630
63g
63g
63g
6^1« 611,, 6U ,e b llie
714
714
714
714
M o n T u est W e d T h . F r i

Good Ordinary..................
Low M iddling.............................
M iddling
..................................
Good M id d ling..................
Middling Fair...............................

5916 5^2
6*4
63.«
6 U 18 6»fi
6>618
79,« 7»a

5116
6
67S2
67,«

5
1
515,8
653a ,
63g 1

5
5 _
515,« 515,6 515„
6532 65
6 5 ,v
630
63g
63s

The total sales of cotton on the spot and for future deliver}
each day during the w eek are indicated in the follow ing
statem ent. For the convenience of the reader w e also add
a colum n w hich show s a t a glance h ow the market closed oi
sam e days.
SALES OF SPOT AND CONTRACT.

301

Con- Specsum p. u l't'n
225
77
570
199
250
62

il

Sat’d a y . Quiet at *8 ad v,.
Monday Dull....................
Tuesday E asy a t lie dec..
"Wed’day Q u iet...................
Thur’d’y E asy
F riday..! Dull.

Ex­
p o rt.

to K> 9
otoco *

<1

00500)
có«ó® tâ
OO 05

Total.

1,500
1,300
100

225
1,577
1,870
600
250
262

■M

te

99

tòta

05ca
tC

9 k
-4 ®
MM 9
MO
**
$jya ;

9

-400 **
a i°

còlo
oo
o

es

9CO9tá
MV
0303 Ô 03
WM®M
S-rf- h*
te­
osos k
MM
C
XiW 9**
9

99

05
M
ta
„
>■
0505
<

tata

*5

99

tete
tata

a.H

03 03 O 03

Sales oj
Future*
78,200
137,900
110,600
92,200
64,100
63,600

050
1(1là
-ate
a

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0303003
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99
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0303003
MM®tâ
tâw®eô
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tâ
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te 9 9 k
► 0505 ^
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Ci I 005 «3505005

F ri

MABKET AND SALES.

SPOT MABKET
CLOSED.

>
9 <
9tata
9 s4 9tâta
9
tete “ «005H*•»
9®
I 9®
-J
0303Ò03
0505005
tÒtÒ°tÒ tÓ¿°tÓ eô«i® tâ
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to
to 0505 5to
9 <
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lo
0303O03 0303Ö03
tàiâ® 10 tâ tâ® tâ tota® tâ
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tâ «0 9
tâtâ 9
«005 81
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tâtâ®
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513
öl«
5*2
63,« 63,8 63,8
65g
6 s))
65s
615le 6'5,6 615ie
71«
7ifl
71«

S a t . IHI o n T u e s W e d . T h ,
She
6
67SÏ
67,«

tai­

tâtâ® tâ
tata ta

►
99 <
tata «
050 **
I »Jte
M
0505005

55ie
6
6 7ie
6%
75,«

59,6
6I4
e iiie
7
79,«

Low Middling...............................
M id d lin g .......................................
Strict Middling . . ......................
Good Middling Tinged..............

ta

►
0303 •4
loto
Q1QO
i
0505005

9) i1
K
a
1 *¡
05 I !
:ta tá<w®«ó ta

F i.

Good Ordinary........... .
5*16
Low M id d lin g ...... . . . . . . . . . . . . 6
M id d lin g ....................... .............. 6 7lß
Good M iddling............................. 6%
M iddling Fair............................... 751«
GULF.
S a t.

STAINED.

>
> 0505 <
> a 03 ►
•4 0505
K)K> 9
O K5tb (» 03
9
W
03W
OH
• 9Ì*
9
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II

►
S
M

gs
o
b

os

ta
* Includes sales iu Septem ber, for September, 28,100; Septem berOctober, for October. 229,600; September-Novem ber, for N ovem N
ber,
413,600; September-December, for December, 1,162,000; Septem b
ber January, for JaLuary, 3 ,175,30t; September-February, for F ebruary,
9U l.90o.

►&

The follow in g exchanges have been m ade during the w e e k :
bug
*03 pd. to exch . 100 J nne for AO
•04 pd. to exoh. 200 Oot. for Nov.
s
*03 pa. to exch . 100 May for Aug. 7
•07 pd. to exch. 300 J u ly for Oet
O
•01 pd. to exch. 1,000 J ’ue for M iy. *04 pd. to exoh. 2,000 J ’ne for Aug.
•a
02 pd. to exoh. 500 Jun* for J illy.
02 pd. to exch. 100 May for Aug.
•01 pd. tó exch . 200 J u ly for May. •10 pd. to exoh. 500 Jane for Oot.
•04 pd. to exch . 200 June for Aug.
Even 300 May for Aug.
■03 pd. to exoh. 1,600 May for A ug.
•05 pd. to exch. 300 Apr. for Auj
T h e V i s i b l e S u p p l y o f C o t t o n to-n igh t, as made up by cabl©

and telegraph is as follow s. The Continental stocks, as w ell a 8
those for Great Britain and th e afloat are this w eek’s returns
k •4 European figures are brought d ow n
and consequently
K. taall9 theto tO
9
050500** But to m ake th e totals the com plete
3,100
4,784 546,600
301 1.383 . . . .
-Total
0 Thursday evening.
I a.®;
I
9.®
M(Apr, 5), w e add the item of exports from
iuJt dti.it« AND FiacES OF F utures are shown by the figures for to-night
0505005
in it th e exports of Friday o n l'.
tÔMincluding
®tâ
follow in g com prehensive table,
M.L .! ” the United States,
-JrOO




....

....

200

A p r il

THE CHRONICLE

6, 1895.]

617

1895.
1894.
18*3.
1892
(Qu o t a t io n s f o r M i d 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 . —
Stock a t L iverpool......... b a les. 1,731,0 0 0 1 ,7 6 8 ,0 0 0 1 ,6 3 5 ,0001 ,673,000
Stock a t L ondon.........................
7,000
9,000
5,000
18,000 Below we give closing quotations of middling cotton at South­
T otal G reat B ritain stock . 1,738,000 1,777,000 1,640,000 1,691,000 ern and other principal cotton markets for each day of the w eek.
S to c k â t H a m b u r g ................. ' 25,000
27,000
14.000
3,800
CLOSINGQUOTATIONS FOR MIDDLINGCOTTONON—
Stock a t B rem en......................... 345,000 206,000 175.000 151.000 Week ending
19,000
18,000
Stock a t A m sterd a m ................
16.000
27.000
A p iil 5
Satur.
Mon.
Tues.
Wednes. Thurs.
F r i.
S to c k â t R o tte r d a m .................
200
200
300
300
Stock a t A n t w e r p . . . . . . . . . . . . . .
12,0 uo
19,000
7,000
5.000
51318 5%
513,a 513,8
5%
53i
Stock a t H avre............................ 494,000 479,000 430.000 382.000 Galveston...
N*wOrleans 53i
5%
51318 513le
5l«ia
5%
Stock a t M arseilles....................
5,000
7,000
10,000
9.000 M
obile....... 5%
5*
5\
53t
5ll,e
5%
S tock at B a r celo n a ...................
88,000
69,000
99.000
90.000 Savannah...
578
578
578
513,a 513,6
57
8
Stock a t G enoa............................
42,000
18,000
13.000
19.000 Charleston..
5%
5
\
5%
53&
53t
53i
S to ck a t T r ie ste .........................
13,000
19,000
17.000
19.000 Wilmington.
53t
5%
53i
5^
5%
53j,
T otal C ontinental sto ck s. . 1,043,200 860,200 781,300 706,100 Norfolk......
51518 51516 51518 515,a 515,8
578
Boston ..... 6s16
T otal E uropean sto c k s ___2,781,200 2,637,200 2,421,300 2,397,100
63s
67i8
63s
67i8
638
In d ia co tto n afloat for E urope.
55.000 170,000 150,000 164,000 Baltimore...
6^8
6*4 6 6
6H
6H
6I4
6U1
Am er, oott’n afloat for Europe. 380,000 218,000 191,000 355,000 Philadelphia
6ii18 6Hi8 6H,a
6®8
65a
® gypt.Br azil,&o. ,afltfor E ’r’pe
21.000
37,000
38,000
42,000 Augusta....
578
515la
51618 515,«
SiBia
515,8
534
Stook in U nited S tates p o rts.. 872,926 714,953 796,246 968,793 Memphis....
5%
51318 513,8
5*
513,8
5l3le
Stock in U. S. interior to w n s.. 275,916 245,342 355,257 367,991 St. Louis....
513le
513la
51316 SIS,*
0^*16 513le
U n ited S ta tes exp orts to-day.
22,343
23,023
7,072
15,579 Houston....
5%
513,8
5%
53t
5131
6
Cincinnati.. 6
6
6
6
6
6
Total v isib le su p p ly........... 4,408,385 4,045,518 3,958,875 4,310,463
51518 516le
515,a 515,«
515,«
515,8
Of the above, to ta ls of American and other d escriptions are as follow s: Louisville...
Am erican—
The closing quotations to-day (Friday) at other important
Liverpool sto ck ...............b ales. 1,607,000 1,512,000 1 ,385,0001,440,000
959,000 743.000 680,000 586.000 Southern markets were as follows.
C ontinental sto c k s.................
Am erican afloat for E u rop e... 380,000 218.000 191,000 355.000 A tlan ta ......... .
59,8 L ittle R o o k .... 57l8 I N ew berry____
5 1«
872,926 714,953 796,246 968,793 Columbus, G a.
U nited S tates sto ck .................
5^
M ontgom ery... 5 78 I R a leig h ............. 5 4 t 9 7g
U nited States interior sto ck s.. 275,« 16 245,342 355,257 367,991 Columbus,Miss
53s N a sh v ille......... 583
S
e
l
m
a
......
.
.
.
.
6
United S ta tes ex p o rts to-d ay.
22,343 _ 23.023
7,072
15.579 B u fa tila :...
5% N a t c h e z ....... 5918 I S h r e v ep o rt.....
5518
Total Am erican.................... 4,117,185 3,456,318 3,414,575 3,733,363
R e c e i p t s f r o m t h e P l a n t a t io n s . —The following table
East Indian , B razil, <£c. —
Liverpool sto ck ........................... 124,000 256.000 250.000 233.000 indicates the actual movement each week from the plantations.
7,000
London sto c k ....................
9,000
5,000
18,000 The figures do not include overland receipts nor Southern
C ontinental s t o c k s . . . . . . . . . . . . .
84,200 117,200 101,300 120,100 consumption; they are simply a statement of the w eekly
India afloat for Europe......... .
55,000 170.000 150.000 164.000
E gyp t, B razil, &c., afloat.........
21,000
37,000
38,000
42,000 movement from the plantations of that part of the crop w hich
Total E a st India, &C........... 291,200 589,200 544,300 577 100 finally reaches the market through the outports.
T otal A m erican.................... 4,117,185 3,456,318 3,414,575 3.733.363
Week
Receipts a t the Ports. St’k at Interior Towns. Rec'ptsfrom Plant'ne,
Total
vTTnilar»^
isib le suÎpi it
p ly...........
4,408,385
4,045,518
3,958,875
ÌH
lilin ir Upland,
a1
*133ad.
2^4
A
1
Au n 4,3 to.4o3
n» «
M iddling
L iverpool..
43,6d.
Andino—
4»led.
3®8d.
1893. 1894. 1895. 1893. 1894. 1895. 1893. 1894. 1895.
M iddling Upland. N ew Y ork..
61 8o.
7%c.
8® 8o.
6%0.
E g y p t Good Brown, Liverpool
6%d.
5 i 16d.
5 ^d.
4%d Mch. 1....... 65,041 67.858 137,910 433,078 347,040 402,728 59,225 51,077 117,906
Peruv. Rough Good, Liverpool
53ed.
5!318d.
6%d.
7d
“
8 ....... 55,575 70.051 119,835 419,038 322,111 388 860 41,535 45,122 105,967
Broach F ine, L iverpool...........
3718d.
43gd.
3ifld
“ 16 . . . . 47.931 66,530 132.381 409,462 301,814 353,976 38,355 49.233 97,497
T innevelly Good, L iv er p o o l..
3>ad.
4i$d.
4 ,, \ t
30sd.

¡¡SiF" The imports into Continental ports the past week have
been 94,000 bales.
The above figures indicate an increase, in the cotton in sight
to-night of 382,867 bales as compared with the same date
of 1891, an increase of 449,510 bales over the corresponding
date of t893 and a gain of 9 7.933 bales over 1893,
A t THE I n t e r i o r T o w n s the movement—-that is the receipts
for the week, and since September 1, the shipments for the
week and the stocks to-night, and the same items for the
corresponding period of 1893-94—is set out in detail below.
H o w a iS tziQ g w
3 g ©© t?w s ©> >•>•> f a
O 85 Ö 9» ® ® O g''85 & ..
B&5?
8
!
|
|
l
S
i
l
l
sf® E l ’S,® B EJC*
§ - Í Í E s s Í f *S.F!

■
- 0Itr
So
3f-sfàlci
PK
4?

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W g O
-.W
M
M qS
s sp S3 îfc© s OD
00 K 5 ,
œ O, o d
00 f 1». s: .

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hoh

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§
© (►
g w
____
© „w
»
- *8
2 5
Mtz¡ «
P £

h

Ob

►

SM ; : : :

„ ÇpOOMOQO^CObO^ïOCOOOCDM

10 CO<1 VI

CJt^MOD

05Vl'-»,05CJi0iVib005<|Q0O000i»-- C>iC0t0,^>-,i—CJiVlCJiOOitOQOOiCJirf^

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5° S*2°P !
W CXiMCOVl^MbD to tOCO<!O^^CO<JCOMif^M
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os'cooo^ COVI ! ^ o
555
w to, Üli^Ol050tOCOMO<l<lV»COCBCC<|»"‘OCO‘*ïO'MH4Vî
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tOCJl to O Mtoo» to CO
MCO MOi'-'H-k-'lOOOCO'-O 03 u-#
^K)»0-s)bOlOÂCOMlOC^*JO|ffc^COtOO*»QOOlOODCX)OD*-4#fcOOOOM
Q0CnC0i~*00CO<IC005CÔH**C0O0iVlC0MC000C0i^C0r
‘
1CO<1O«COCO00to
QCM

O v e r l a n d M o v e m e n t f o r t h e W e e k a n d s in c e S e p t . 1 .—

We give below a statement showing the overland movement
for the week and since September 1. As the returns reach us
by telegraph late Friday night it is impossible to enter so
largely into detail as in our regular monthly report, but all
the principal matters of interest are given. This weekly
publication is of course supplementary to the more extended
monthly statements. The results for the week ending Apr. 0
and since Sept. 1 in the last two years are as follows:

00 t o -si JD Vl^-*^0 Ol C0V»Q0C0C0#-tO|f*»i*'s9C0Ctì<CC0

5£à^?S? ®
tO^Cfct-*Vooa>V^ Ol^O^D03Co'co'tO
^i!^^î^i^rÎ!^rîHî^>"s^'^^^>^ ^ t*ïkQC,Qo^t^ îo ,si03Vicoco acocoto
l^t0VlViVltOaC003COViC0t0>■■■......
CO05COV»to <1/f*. <100 COto t-1to COCOM

A p ril 5.
Week.
Shipped —
Via St. Louis .......... ................... .
Via C a ir o .......................................
Via Hannibal . . . ..........................
Via E v a n s v ille ...........................
Via L o u is v ille .... . . . . . . . . . . . . . .
Via Cincinnati...............................
Via other routes, & c..... .............

15,295
7,777

Week.

Sines
Sept. 1 .

830,860
308,540
545
3,605
159,717
153,609
121,846

7,143 t543,396
2,218 211,136
13,676
•25Ò
7,186
3,737
91,816
94,131
2,018
2,502 112,257

33,767 1,578,722

17,868 1,073,598

'“ 79
4,715
2,518
3,383

Total gross o v e r l a n d ..........
Deduct shipm ents—
Overland to N. Y., Boston, & e..
Between in teiior t o w n s .........
Inland, &o., from S o u t h .........

19,669
1,198
2,108

415.577
27,704
61,186

5,000
43
3,043

256,781
21,460
83,274

Total to he d e d u c t e d ..........

22,975

534,467

8,036

361,515

Leaving total net overland*.. 10,792 1,044,255
9,782
* Including m ovem ent by rail to Canada.
t Revised.

712,083

Mg

M<
10 »-•
030000
<1! CO03c. TuCOCO*-*^303CO00 to
03tOV»03 ►
-* ^X ^^J^^^coÄ
H . . . _____
V iO_io! œ o o o s u o o o i o ^ o s ^ S-g-I
<l030t9tOtOOO^CÔCOÔÔCOVÎH*^îtO VI to 03co ^ VIO COO <1M03

In Sight an d Spinners'
Takings.

1894-95.
Week.

CH

00 co 0309^4 MO co 09Vi COto 03 w 03MVi VIto »ö ga
IO*U•UQ0C0Ü0-<l*C0<lrf^.OC0T^'c3iç^'^^'Zq'ç,5,V|QQ
^<ICp03^tO*UtOCO»—
COh-*COV»IOCOOOQOCOm 03'U 0) w
03 tO <1 V* M 00 •
* L ouisville figures “ n e t ” iu both years,
t This y ea r’s figures estim ated.
t Last year’s figures revised.
r4 « » r i
COQDVOM*-»•
to f-4MVito Vl¡

Since
Sept. 1.

1893-94.

The foregoing shows that the week’s net overland movement
this year has been 10,792 bales, against 9,783 bales for the
week in 1894, and that for the season to date the aggregate net
overland exhibits an increase over a year ago of 332.173 bales.

C0C0l0l0«4 C?»V»035 to a CO03CO03S

00 O

The above statement shows: 1.—That the total receipts from
the plantations since Sept. 1, 1894, are 7,562,868 bales; in
1893-94 were 5,691.411 bales; in 1892-93 were 4,844,759 bales.
2.—That although the receipts at the outports the past week
were 116.767 bales, the actual movement from plantations was
only 63,751 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the week were 33,655 bales and for 1893 they were
26,392 bales.

1894-95.

OCCOCOOJÜitft.CO^iOWCDOOV’ObOOD^O^OSIOCJiO “ COM 5 »OD2 «

¡PSPi*

“ 22....... 52,111 49,355 123,133 394,411 287.155 314,836 37 060 31,696 113,993
62,559 45,292 115.470 380,434 265,966 323,932 48,682 24,103 94,566
“ 29.
A pr. 5 ....... 51 569 54,279 116.767 355,257 245,342 275,916 26,392 33,655 68,761

Since
Sept. 1.

1893-94.
Week.

Sines
Sept. 1 .

Receipts at ports to Apr. 5 . . . . . . . 116,767 7,343,785 54,279 5,522,235
Net oveilan d to Apr. 5......... .
9,782 712,083
10,792 1,044,255
Southern consum ption to Apr. 5.. l7 ,0 0 o 535,000 15,000 506,000
Total m a r k e te d ..... .
Interior stocks in e x cess.
Came into sight during w eek.
Total in sign t Apr. 5 . . . . . . . . . .

144,559 8,923,040 79,061 6,740,318
*48,016 218,581 *20,624 169,176
96,543

58,437
9,141,621

6,909,494

38.790 1,862,127

29.591 1,266,219
„cdtui&EUfl

The above totals show that the interior stocks have decreased
1D ecrease during week.
during the week 48,016 bales and are now 30,574 bales more
It w ill be seen by the above that there has come into sight
than at same period last year. The receipts at all the towns during the week 96,548 bales, against 58,437 bales for the
iiave been 33,756 bales more than same week last year and since same week of 1894, and that the increase in amount in sigh t
Sept. 1 are 1,793,175 bales more than for same time in 1893-94. to-night as compared w ith last year is 2 232,127 bales.




618

THE CHRONICLE

. W e a t h e r R e p o r t s b y T e l e g r a p h . —As received by tele­
graph from the South this evening our reports are generally
favorable. The rainfall has been light as a rule and the tem­
perature in the main satisfactory. Farm work has made
good progress during the week in most districts and in some
sections the planting of cotton is actively under way.
Galveston, le x a s.—Rain has fallen on one day of the week
to the extent of ninety-five hundredths of an inch. Average
thermometer 63, highest 77 and lowest 49. March rainfall
two inches and seventy-seven hundredths.
Palestine, Texas.—There has been rain on two days during
the week, the rainfall reaching sixty-nine hundredths of an
inch. The thermometer has averaged 60, the highest being
85 and the lowest 36. The rainfall during the month of
March reached two inches and fifty-two hundredths on eleven
days.
Huntsville, Texas.—The week’s rainfall has been forty-five
hundredths of an inch, on two days. The thermometer has
averaged 61, ranging from 38 to 84. March rainfall one inch
and fifty hundredths.
Dallas, Texas.—The cold weather checked cotton-planting
over the northern portion of the State, but farmers are pre­
paring their land and making progress toward putting in the
crop. Some cotton has been planted in the coast district and
Southwest Texas and rain has generally been beneficial. Earlyplanted cotton is coming up over the southern portions of the
State, but it is believed that the cool weather toward the close
of the week will have a tendency to check the growth of the
plant. Corn-planting is progressing nicely and the greater
portion of the crop is in. Farming operations are from one to
two weeks late. Good rains would be beneficial over the
western portion of the State. There has been rain on two
days of the past week, the rainfall reaching fifty-five hun­
dredths of an inch. The thermometer has ranged from 55 to
86, averaging 70. March rainfall one inch and seventy-nine
hundredths.
San Antonio, le x a s.—There has been rain on two days of
the week, the precipitation reaching sixty-one hundredths of
an inch. Average thermometer 66, highest 85 and lowest 46.
March rainfall two inches and twenty-four hundredths.
huling, Texas.—The week’s rainfall has been one inch and
ninety hundredths on two days. The thermometer has aver­
aged 66, the highest being 86 and the lowest 47. During the
month of March the rainfall reached two inchts and eighty
hundredths.
Columbia, Texas.—We have had only a trace of rain the
past week. The thermometer has averaged 66, ranging from
48 to 85. During the month of March the rainfall was forty
hundredths of an inch.
Cuero, Texas.—We have had rain on two days of the past
week, to the extent of twenty-seven hundredths of an inch.
The thermometer has ranged from 48 to 85, averaging 66.
March rainfall one inch and fifteen hundredths.
Brenham, Texas.—There has been light rain on two days
during the week, the rainfall being twenty-one hundredths
of an inch. Average thermometer 62, highest 84, lowest 40.
During the month of March the rainfall reached three inches
and four hundredths.
Belton, Texas.—We have had rain on one day during the
week, the rainfall reaching twenty-five hundredths of an
inch. The thermometer has averaged 62, the highest being
86 and the lowest 38. During the month of March the rain­
fall reached one inch and sixty-five hundredths.
Fort Worth, lex a s.—It has rained on one day of the week,
the precipitation reaching forty-two hundredths of an inch.
The thermometer has averaged 61, ranging from 35 to 87.
March rainfall seventy-three hundredths of an inch.
Weatherford, Texas.—We have had rain on two days dur­
ing the week, the precipitation reaching ninety-two hun­
dredths of an inch. The thermometer has ranged from 36 to
84, averaging 60. The rainfall for March was one inch and
forty-one hundredths.
New Orleans, Louisiana.—We have had rain on four days
of the week, to the extent of two inches and forty-one hun­
dredths. Average thermometer 67. R onfall for the month
of March three inches and eighty-one hundredths, on twelve
days.
Shreveport, Louisiana.—There has been rain on two days
during the week, to the extent of one inch and fourteen hun­
dredths. The thermometer has averaged 63, the highest be­
ing 82 and the lowest 39. March rainfall^four inches and
Bixty-six hundredths.
Columbus, Mississippi.—It has rained on two days during
thè week, to the extent of one inch and twenty-one hun­
dredths. Frost on two nights, but no damage. The ther­
mometer has averaged 55. ranging from 38 to 80.
Leland, M ississippi.—It has rained during the past week,
the rainfall being seventy-five hundredths of an inch. The
thermometer has ranged from 36 to 84, averaging 62'7. March
rainfall six inches and fifty-two hundredths.
Meridian, Mississippi.—The weather has been wet and cold
the past week. Planting is delayed about five weeks.
L ittle Rock, Arkansas.—We have had rain on two days of
the week, to the extent of two inches and twenty hundredths.
The thermometer has averaged 62 4, the highest being 80 and
the lowest 36.
Helena, Arkansas.—Corn is about all planted. There has
been light rain on two days during the week, to the extent of
sixty hundredths of an inch. The thermometer has averaged
64, ranging from 35 to 82. During the month of March the
precipitation reached four inches and forty-nine hundredths.




[Y ol .

LX

Memphis, Tennessee.—The weather has been favorable dur­
ing the week and farm work is progressing. Corn-planting is
active. We have had light rain on three days, the rainfall
being fifty hundredths of an inch. The thermometer has
ranged from 38‘3 to 83, averaging 64 2. March rainfall seven
inches and one hundredth, on fourteen days.
Nashville, Tennessee.—There has been rain on one day of
the week, to the extent of two hundredths of an inch. Aver­
age thermometer 59, highest 85, lowest 32. March rainfall
five inches and nine hundredths.
Mobile, Alabama.—Planting preparations are active but
still very backward. There will be a compulsorv reduction of
acreage. The sales of fertilizers have fallen off about forty
per cent. We have had rain on three days of the week, the
rainfall reaching four inches and sixty-seven hundredths.
The month’s rainfall was ten inches and forty-seven hun­
dredths.
Montgomery, Alabama.—The weather continues very favor­
able and farm work is progressing finely. Corn is nearly all
planted and some is up. Cotton-planting has begun. It has
rained on three days during the week, to the extent of twentyf eight hundredths of an inch. The thermometer has averaged
63, ranging from 53 to 73. During the month of March the
I rainfall reached nine inches and fourteen hundredths.
Selma, Alabama.—Rain has fallen on two days of the week,
to the extent of ninety-four hundredths of an inch. The
thermometer has ranged from 38 to 79, averaging 59.
Madison, Florida.—Rain has fallen on two days daring the
week, to the extent of one inch. Average thermometer 67,
highest 81 and lowest 42.
Columbus, Georgia.—There has been rain on one day during
the week, the precipitation reaching twelve hundredths of an
inch. The thermometer has averaged 61, the highest being
76 and the lowest 39.
Savannah, Georgia.—There has been rain on three days of
the week, to the extent of twenty-four hundredths of an inch.
The thermometer has averaged 62, ranging from 43 to 84.
March rainfall seven inches and fifcv-five hundredths.
Augusta, Georgia.—It has rained on three days of the week,
the rainfall reaching sixty-two hundredths of an inch. The
thermometer has ranged from 36 to 84, averaging 62 During
the month of March the precipitation reached eight inches
and six hundredths.
Albany, Ga.—There has been a rainfall of fifty-two hund­
redths of an inch on three days during the week, Average
thermometer 59, highest 71 and lowest 45.
Charleston, South Carolina.—Rain has fallen on three days
of the week, to the extent of eighty-five hundredths of an
inch. The thermometer has averaged 60, the highest being
77 and the lowest 46. March rainfall five inches and twentytwo hundredths.
Stateburg, South Carolina.—It has rained on two days of
the week, the rainfall being one inch and twenty-five hun­
dredths. The thermometer has averaged 64*1, ranging from
48 to 85. March rainfall six inches aud one hundredth.
Wilson, North Carolina.—TThere has been rain on twodays of the past week, the rainfall being seventy three hun­
dredths of an inch. The thermometer has ranged from 34 to
84, averaging 59. During the month of March the precipita­
tion reached five inches and ninety-five hundredtns.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at
8 o’clock April 4, 1895. and April 5, 1894.
A pr. 4, ’95. A pr. 5, ’94.
Feet.
Feet.
10 tí
14-4
18-9
.
19-2
8-6
«
17-9
30
33-6
43 O
31*7

New O r le a n s ....
M em phis.............
N a sh v ille ..........
Shreveport ___
VioksbùrK...........

O v e r l a n d M o v e m e n t , & c ., to A p r i l 1.—In our editoria
columns to-day w ill be found our regular statement of
overland movement, receipts, exports, spinners’ takings, &c.,
brought down to April 1.
I n d i a C o t t o n M o v e m e n t F r o m a l l P o r t s . — The receipts
and shipments of cotton at Bombay have been as follow s for
the week and year, bringing the figures down to April 4.
BOMBAY RECEIPTS AND SHIPMENTS FOR FOU R YEARS.

Shipm ent» th is week. Shipm ents sin ce Sept. 1.
te a r Great C onti­ T otal. G reat C on ti­
T o ta l.
B rita in n en t.
BriVn. nent.

Receipts.
T his
Since
Week. Sept. 1.

15.000 15.000
3,000 132.000 135.000
•94-5
40.000 40.000 36.000 386.000 422.000
’93-4
47.000
11,000
36.000
26.000
373.000 399.000
’92-3
’91-2 6.000 69.000 69.000 30,000 309.000 339.000
Shipm ents fo r the week.
Shipm ents

51.000 648.000
57 000 1,060,000
67.000 870.000
68.000 818.000
since Sept. 1

Great
B rita in .

Conti­
nent.

1,000

6,000

Total.

Oaloatta—

1894-95...
1893-94...

Madras-

1894-95...
1893-94...

All others—
1894 9 5 ...
1893-94...

7,000

......

......

1,000

Total.

10,000
9,000

9,000
32,000

19,000
41,000

13,000
23,000

12,000
17,000

25,000
40,000

2,000

2,000

15,000
24,000

27,000
35,000

42,000
59 ,0 0 0

8.000

9.000

38,000
56,000

48,000
. 84,000

86,000
140,000

Total all—

1894-94...
1893-95...

Great
B rita in . Continent.

THE CHKOJNLCLE.

April 6, 1895.]

EXPORTS TO aU R O PB FROM A L L IN D IA .

1893-94.

1894-95.

Shipm ents
to a ll E urope
from —
Bom bay............
A llo th erp o rts.
T o ta l.. . . . .

1892-93

Since
Sept. 1.

T h it
week.

Since
Sept. 1.

135,000 40,000
9,000
86,000

422.000
140.000

47,000
1,000

399,000
95,000

49,000

562,000

48,000

494,000

T h it
week.

This
week.

Since
Sept. 1.

15,000
15,000

221,000

ALEXANDRIA RECEIPTS AND SHIPMENTS.

A lexan dria, E gypt,
A p r il 3.
R eceip ts (o a n ta rs* )....
T h is w e e k ....
Blnce Sept. 1 .

Bxports (bales)—
To L iv er p o o l. . . . . . . .
To C o n tin en t...........

1894-95.

1893-94.

1892-93.

17,000
4,448,000
Since
T h it
week. Sept. 1.

80,000
4,611,000
S in ce
T h it
week. Sept. 1.

18,000
5,063,000
T h it
Since
week. Sept. 1,

2,000 238.000
3,000 268.000

6,000 276.000 6,000 254.000
5,000 206.000 10,000 248.000

T o ta l E u rop e......... 5,000 506,000 11,000 482,000 16,000 502,000
* A oantar is 98 pounds.
Manchester Market.—Our report received by cable to ­

night from Manchester states that the market is firm for
both yarns and sheetings. Merchants are baying very spar­
ingly. We give the prices for to-day below and leave ttiose
for previous weeks of this and last year for comparison:
1894.

1895,
32« Oop.
Twist.
M oh.l
« 8
« 15
“
22
“ 29
Apr. 5

4l3l s o5i^ 3
478 »5*9 3
5
®5«8 3
5*4 ®5i3,e 4
5*4 ®51316 4
55ia ®6
4

Uott't.
Mid. 32s Oop.
Twist.
Upldt

8*4 Ibt.
Shirtings.

8*4 lbs.
Shirting*

Mia

Vai-

a.

10 » 5 11 , 3
63s »7*8
3*a » 7
10*406 0
3 »7
3 l ie 6*3 »7*4
3318 6*2 07*4
11 » 6 1
» 7 1*2
O » 6 1*4 3 9 42 6*4 »7*4
» 7 1*4
0 » 6 1*4 35la 67la »7*4
» 7 1*4
33s 6*4 »7*4
0*3»6___________________________________
2
» 7 l*a

4 316

43ie
4*8
4*8
43xa
43,6

Sea I sland Cotton Movement.— We have received this
(Friday) evening by telegraph from the various ports the
details of the Sea Island cotton movement for the week. Th e
receipts for the week ending to-night (April 5) and since
Sept. 1, 1894, the stocks to-night, and the same items for the
corresponding periods of 1893-94. are as follows.
1894-95.
Receipts to A p r il 5.

1893-94.

Stock.

This
Since
This
Since
week. Sept. 1. week. Sept. 1. 1895.

Savannah ...........................
C harleston..........................
Florida, &o.........................
Total..............................

129

....

63,913
5,182
5,139

91

74,234

154 59,466

91

25

53,822
2,2«8
3,436

1894.

2,69 i 3,810
273
540
527 2,206
3,494

6,556

The exports for the week ending this evening reach a tota 1
of 611 bales, of which 352 bales were to Great Britain, 259
to France and — to Reval, and the amount forwarded to
Northern mills has been 25 bales. Below are the exports
for the week and since September 1 in 1894-95 and 1893-94.
Exports
fro m —
Savannah...
Chari’t ’n,&c
Florida, &o.
N ew Y ork..
B o sto n . . . . .
B a ltim o re..

Week E n din g A pr. 5.

Since Sept. 1, 1894.

North’n Mills.

Great Fr’nce
Great F r’nce
Total. B rit’n. <tc.
Total.
B ril’n. <tc.

Since
Week. Sept. 1.

2,317 20,402
53 2,966
765
2,928 7,014
7,196
252

25 27,899
1,340
4,172

.........

109 18,085
2,913
765
350 4,106
152 7,196
252

109
................

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

20Ó
152

150

—

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

.........

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

352

259

611 33,317

5,298 38,615

25 33,411

Total 1893-4

298

200

498 29,963

3,960 33,923

436 20,749

Quotations April 5 at Savannah, for Floridas, common,
8c.; medium fine,
choice, 154£c.
Charleston, Carolinas, medium fine, 22c. to 24c.: fine, 28c.:
extra fine, 30c. to 35c.
J ute Butts, Bagging, &c. —There have been practically no
transactions in jute bagging since our last report and quota­
tions are unchanged at 4^ c. for
lbs., 4 ^ c. for 2 lbs. and
4%c. for standard grades in a jobbing way. Car-load lots of
standard brands are quoted at 444c. for \% lbs., 4%c. for 2 lbs.
and 5c. for 2 ^ lbs. f. o. b. at New York. Jute butts are with­
out feature at 1 l-16c. for paper quality on tbe spot. The
deliveries of jute butts and rejections at New York and
Boston during March were 94,885 bales, against 31,989 bales
for the same month last year, and since January 1 the deliv­
eries reached 136,961 bales, against 78,357 bales in 1894. The
aggregate stock in the hands of importers and speculators at
New York and Boston on March 31 was only 2,750 bales,
against 6,000 bales at the corresponding date in 1894, and tbe
amount afloat for the United States reaches 227,920 bales,
against only 83,063 bales last year.
Shipping News .-—The exports of cotton from the United
States the past week, as per latest m ail returns, have reacheo
124,729 bales.
Total bale».
N e w Y ork —To Liverpool, per steam er Taurio, 4 ,7 3 8 ................
4,738
To H ull, per steam er Hiodoo, 1,589 . . ................... .............« ...
1,589
To Loudon, per steam ers Aleefco, 500 ..M ohawk, 6 2 3 .........
1,12<
, To Glasgow, per stea • er 8t<te of California, 200 Sea Islan d
2C0
. To H avre, per steam er La Champagne, 866 upland and 150
Sea I s la n d .................... ........... 1,016




619

NEW Y ork —(Concluded) Total bales.
To Bremen, per steam ers Trave, 174 — Willehad, 3 ,4 0 2 .... 3,576
To Hamburg, per steam ers Amalfl, 3 6 6 ___Patria, 2,154 . . . 2 ,520
To Rotterdam, per steam er M aaslam , 380 ....................... .
38»
To Antwerp, per steam er Noordland, 1 , 8 6 7 . . . . . . . ................ . 1 ,867
To Lisbon, per steam er Straits of Magellan, 7 5 ............. . . . . .
75
To Genoa, per steam ers K aiser W ilhelm II., 8 4 8 ___Straits
of Magellan, 1 , 3 7 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .........
2,223
N ew Orleans —T o Liverpool, per steam ers Barbadian, 8,320
— Costa Rican, 6 ,3 0 0 ....In ven tor, 3 ,5 3 0 ....Serra, 3,800 21,950
6,502
To Havre, per steam er Madrileño, 6 ,5 0 2 ...........................
To Bremen, per steam er Akaba, 9 , 1 6 3 ....................................
9,163
To Barcelona, per steam er Ocean Prince, 2 , 6 0 0 . . . . . . . . . . . . . . 2 ,6 0 0
To Ooorto, per ship Amerioa, 100. . . . ............................
100
To Genoa, per steam er rusoan Prlnoe, 1 ,8 0 0 ............................. 1,800
To Leghorn, per steam er Tuscan Prince, 1,000 . . . . . . . . . . . . . 1,000
To Naples, per steam er Tuscan Prince, 1,‘>00 .....................
1,000
Galveston —To Liverpool, per steam er Gracia, 8 ,4 9 3 ....... . .
8 ,4 9 3
To Hamburg, per steam ers Domira, 1 ,8 8 8 ....E ls ie , 1 ,1 3 5 ... 3,023
To Narva, per bark Staubo, 1,008 .............. .....................
1,008
Mobile —To Liverpool, per steam er Hesper, 4,649 . . . . . . . . . . . . 4,649
6,242
Savannah —To Bremen, per steam er Marthara, 6,242 ..............
To St. Petersburg, per bark Cyprian, 2 ,8 5 0 ................... ......... 2,850
To Malmo, per bark Tikoma, 2,450 . . . ................ ............... .
2,450
B runswick —To Bremen, per steam er Dnnmnre H ead, 3 .3 0 8 ... 3,308
Charleston —To Liverpool, per steam er Michigan, 2 ,5 5 6 . . . . . . . 2,556
To Sc. Petersburg, per bark Conquistatore. 1 , 8 0 4 . . . . . . . . . . . . 1,804
To Nykoping, per bark Herman Lehrakuhl, 3,650.................... 3,650
Norfolk —To Liverpool, per steam er Gallego, 2 ,0 0 0 .................. 2,000
To Rotterdam, per steam er Viola, 550 .......................................
550
N ewport N ew s —To L lvem ool, per steam er Gallego, 2 0 2 . . . . . . .
202
Boston—To Liverpool, per steam ers Bostonian, 1,593 ...C a t­
alonia, 2 ,0 5 2 ....Sachem , 2,772 UDland and l o o Sea Island
___8agamore, 3,305...................... .1 ............................................. 9,822
To Yarmouth, per steam er Boston, 1 4 6 ....................................
146
Baltimore —To Liverpool, oer steam er Sedgemore, 976
........
976
To Bremen, per steam er Weimar, 6,228 ................................ . 6,228
200
To Hamburg, per steam er Lisnaorieve, 2 0 0 ......... ....................
To Rotterdam, per steam er Urbino, 1 0 0 ....................................
10G
San F rancisco -T o Japan, per steam er City of Pekin, 1 ,0 3 0 ... 1,050
T o ta l.....................................................................................................1 2 4 ,7 2 9
B e lo w w e a d d t h e c le a r a n c e s t h i s w e e k o f v e s s e ls c a r r y in g
c o t to n f r o m U n it e d S ta t e s p o r ts, b r in g in g o u r d a ta d o w n u v
th e la t e s t d a te s:
G alveston —To Liverpool—Mtroh 2 9 —Steamer Niagara, 7,866.
To H avre-A p ril 1 —Steamer Blenheim , 6,256.
To B rem en -A p ril l —Steamer Naparima, 2 ,5 2 3 ....A p r il 3 —Steam er
City of Belfast, 5,206.
New O rleans—To L iverpool—April l —Steamer West Indian, 4 ,5 7 3 ....
April 2 Steamers Holbein, 2.685; Vesta, 6,<U7.
To H a v re-A p ril 5 -S team er Montezuma, 13,300.
■ To Hamburg -M arch 30—Steamer Polynesia, 2,872.
To Brem en—ADril 3 -Steam er Et ilia, 3,260.
To Antwerp—April 4 —Steamer Oayo R om am . 1,843.
To M alaga—April 1—Steamer Juan Formas, 374.
To Barcelona - April l —Steamer J m n Forgas, <,292.
To Genoa - March 20 - Steamer Guiseppe Corvaj «, 3 ,7 6 2 ... Aoril 1 —
Steamer Juan Forgas, 2 , s l o . . . April 2—Steamer C eittadi Messina,
5,905.
Bavannah —To H avre—April 5 8team er Mangora, 2,843.
To St. Petersburg - April 3 —Bark Iona, 1,9 00.
Charleston —To Nykopiug April 3 -Bark Nuova Margharita, 1,750.
Norfolk —To Hamburg—Maron 3 0 —Steamer Neraao, 1,902.
Boston—To Liverpool -M^rch 28 -Steam er Norseman, 1,108 upland
and 152 Sea Islan d __ April 1 -Steam er Cambroman, 2 ,4 4 2 ...»
April 2 -Steam er Georgian, 1,531.
To Hamburg March 26 -Steam er Italia, 213.
To Yarmouth -April 2—Steamer Yarmouth, 275.
B altim ore - T o Liverpool-M arch 2 7 -Steam ers Baltimore, 1,741;
Queensmore, 1,396
To London—March 28 -Steam er Montana, 301.
To H avre—March 30 -Steam er Mentmore, 2,567.
To R otterdam -M arch 2 9 —Steamer Durango, 386.
To Hamburg -April 3 —Steamer Italia, ¿00.
P hiladelph ia —To Liverpool—March 2 5 —St amer 8outhwark, 3,642.
To Antwerp March 2 6 —Steam er Switzerland, 150.
O o tto n f r e ig h t s t h e p a s t w e e k h a v e b e e n a s f o llo w s :
Satur.

Mon.

Tues.

Wednes. Thurs.

F ri.

Liverpool, steam .o 7«4»*8
*8
*8
*8
*8
*8
....
....
Manchester......... d
....
....
H avre, April 6... c
21t
21t
211
211
21t
21t
251
Do
later........ c
25t
25t
25t
25t
25t
B rem en................d
*8
*8
*8
*8
*8
*8
....
....
....
Do
la t e r ... d.
....
....
....
Hamburg, steamd.
*8
*8
*8
*8
*8
*8
Do
.........d
....
....
....
....
....
....
Ams'dam, steam .c 2 7 V
27V
27V
27
V
27V
27 V
Reval, v. Hamb.d.
316
316
3ia
316
316
316
Do la t e r .....d . ä312S-316 23128
23128
23128
231;8
23iaa
....
....
....
B a r celo n a .......... d.
....
....
G en o a ......... . . . . . d
28 f
281
28t
28t
28t
28t
Trieste, Apr. 17.d. 23li8
X164
“ fl4
U 84
“ 84
Antwerp, steam , d.
*8
*8
*8
*8
*8
*8
Ghent, v. A ntw’p.d
532
5 a
5S2
682
t Cents n et per 100 lb s.
L iverpool ,—By cable from Liverpool we have the following

statement of the week’s sales, stocks, &c a t th a t port:
Mch. 15. Mch. 22

Mch. 29.

Sales of th e w eek ............b ales.
61,000
88,000
84.000 111,000
Of which exporters took . . .
1,100
1,200
2,900
3.000
Of whloh speculators t o o k ..
4 ,000
5,200
9,300
17.000
Sales A m erican..................
92.000
56.000
7 4 .0 0 0
69.000
Aotnal ex p o rt____. . . . . . . . . . . . .
6,000
6.000
5,000
7,00079.000
Forwarded....................................
73.000
6 8.000
79.000
Total stock—E stim ated......... . 1.834.000 1,812,000 1,816,000 1.713.000
Of w hich American—E stim ’d 1.697.000 1,674,000 1,685,000 1.607.000
83.000
2 1,000
63.000
Total im port o f the w e e k ......
59.000
50.000
73.000
54.000
15,000
Of which American . . . . . . . . .
97.000 153.000
122,000 112,000
Amount afloat............................
nrbfph \ diAHnftp
120 non 110 non
95.000 1 5 0 .0 0 0
N ote .—A re-cou atof the stock of cotton at Liverpool oa Maroh 31
showed the actual total stock on ttiat date to h9 1,73 4.210 bates, o f
w hich 1.653,163 bales were American. Compared wioh ttie running
count,this.is a decrease in the total stock of 31,790 bales, the d eclin e
in American being 31,937 bales.

620

TBE CHRONICLE

[V ol.

LX,

The tone of the Liverpool market for spots and futures ea- 1 The sales yesterday included steamer mixed at 50%c. in ele­
day of the week ending April 5, and the daily closing price? vator and 51^c. delivered; steamer yellow at 51>¿0 . in ele­
vator, and No. 2 white at 53%c. f. o. b. afloat, delivery middle
o f spot cotton, have been as follows*
or April. To-day the market was steadier in sympathy with
the advance in wheat. The spot market was quiet. The sales
Spot.
S atu rday Monday. Tuesday. Wed'day. Thursd'y. F riday.
included No. 2 white at 53%
f. o. b. afloat, and steamer
Good •
Good
Good
white at 51c. in elevator.
Market, 1 F irm er. H ard en ’s .
Oustnes*
Easier.
demand.

1:45 p. M. 3

M id .U p l’d s
Spec. & exp

She
7.000
500

31132

12.000
1,000

doing.

demand

3%

3%

3%

3%

12,000
1,000

15,000
1,500

15,000
1,500

12 000
1.000

DAILY CLOSING PRICES OP NO. 2 MIXED CORN.

Sat
May d e liv e r y ................. c. 51%
Ju ly d elivery.............. . ..c . 51%
Septem ber delivery___ e. 51%

Mon. Tues.
S I 8» S I 1«
51% 51%
51% 515s

Wed.
51%
51%
51%

Thurs.
51%
51%
51%

F ri.
51%
51%
51 %

Oats for future delivery have been dull and prices have
gradually given way in consequence of the fall of needed rains
at the West. In the spot market business has been fairly ac­
tive at steady prices. The sales yesterday included No. 2
mixed at 33%@33^c. in elevator and No. 2 white at 371£@
Market, ?
V ery
B arely Q uiet and Q uiet a n t S te a d y .
Firm
.
stead y .
stea d y .
steady.
4 P. M. ■£ ste a d y .
37%c. in elevator. To day the market was dull but steady.
The soot market was quiet. The sales included No. 2 mixed
The opening, highest, lowest and closing prices of futuris at 33%c. in elevator and No. 2 white at 37^@37%o. in ele­
a t Liverpool for each day are given below. Prices are cn vator.
the basis of Uplands, Low Middling clause, unless otherwise
DAILY CLOSING PRICES OP NO. 2 MIXED OATS.
stated:
Sat.
Mon. Tues. Wed.
Thurs. F ri.
Futures.
aiet at Steady »’ Q nlet ai Steady at
Market, ? Q
partially 1-64 @2 61 2-64 d e ­ LH4@2-6i
1:45 P. M. ) 1-64 deo. advance.
cline.
advance.

The prices are given in pence a n d Q4dhs.
H 63-64d., a n d 3 01 m eans 3 l-6 4 d .
S a t., M ch. 2 3 .

M o n .. A p r . 1 .

Qniet.

Q niet a t
a t p a rt’lly
1-64 dec.

T h u s: 2 63 m ean s

April d e liv e r y ............... c.
May d e liv e r y ............o .
Ju ly d eliv ery . . . . . . . . . . o .

33%
33%
34%

A p r il ..........
A pril-M ay..
M ay -Jan e..
J n n e -Ju ly ..
Ju ly -A u g ...
A u g .-S ep t..
S ep t.-O ct...
O ot.-N ov....
N ov.-D ee...
D ec.-Jan..
Ja n .-F e b ....
¡Feb.-Mch.

d.

d.

d.

d.

d.

3 17
317
318
3 20
3 21
3 22
3 23
8 24
3 26
3 27

317
317
3 18
3 20
3 21
3 22
3 23
3 24
3 26
3 27

317
317
3 18
3 20
3 21
3 22
3 23
3 24
3 26
3 27

317
317
3 18
3 20
3 21
3 22
3 23
3 24
3 26
3 27

319
3 19
3 20
3 22
3 23
3 24
3 26
3 27
3 28
3 29
3 cl

3 20
3 20
3 21
3 22
8 23
3 25
3 26
3 27
828
3S0
331

W e d ., A p r . 3

A p ril........
Aprll-May..
M ay -Ju n e ..
Jn n e -Ju ly .
July-A ug..
A ug.-S ept..
8ept.-O ct.
Oct.-Nov..
Nov.-D ee...
D eo .-Jan ....
Jan .-F e b ....
Feb.-M ch.

• d.
3 19
319
3 20
3 22
3 23
3 24
3 26
3 27
3 28
3 29
3 31

d.

d.

3 20
3 20
3 21
3 22
3 23
3 25
8 26
3 27
3 2»
3 30
3 31

3 20
3 20
3 22
3 23
3 24
3 26
3 27
3 28
3 29
3 30
3 31

T h u r s . , A p r . 4.

319
310
3 20
3 21
3 22
3 24
3 25
3 26
3 27
3 28
3 29

3 18
3 18
319
3 21
3 22
3 23
3 24
8 26
3 27
3 28
3 29

3 IP
319
3 19
32L
3 22
3 23
3 24
3 26
3 27
3 28
3 29

3 17
317
3 18
3 19
3 21
3 22
3 23
3 24
3 26
3 27
3 28

3 17
3 17
3 18
3 19
3 21
3 22
8 23
3 24
3 26
3 27
3 28

3 17
3 17
3 18
319
3 21
3 22
3 23
3 24
3 26
3 26
3 28

3 17
317
318
3 19
3 21
3 22
3 23
3 24
3 25
3 26
3 28

3 27
3 28
3 29
3 30
3 31

d.

S 3 1«
33%
33%

33%
33%
33%

Barley has sold

PLOtJB.

3 24
3 26
3 26
3 28
3 29

d.

3 24
3 26
3 26
3 28
3 29

F r l., A p r. 5 .

3 15
3 15
3 16
318
319
3 20
3 22
3 22
3 24
3 25
3 28

33%
33%
34

P i n e ..... ..........# bbl. $1 90® $2 15 P aten t, w i n t e r ....... $2 90® $3
Superfine.. . . . . . . . . . . . 210'® 2 25 City m ills e x t r a s ..... 3 15® 3
320 3 18 318 Extra, No. 2 ................ 2 20® 2 35 Rye flour, superfine— 2 90® 3
3 20 318 3 18 Extra.N o. 1
......... . 2 30® 2 50 Buckwheat flo u r ................®
2 50® 2 70 Corn m eal—
3 22 319 319 C lea rs............ .
Western, &o............. 2 60® 2
3 23 3 21 3 21 S traights..................... 2 70® 3 30
B randyw ine.........
2 70
3 24 3 22 3 22 Patent, spring........... 3 30® 3 95
[W
heat
flour
in
sacks
sells
a
t
prices
below
those for barrels.]
3 26 3 23 3 23
d.

)aem High Low. Clos. Open High Low. Clos. Open High Ixno. Clos.
d.
d.
d.
d.
d.
d.
d.
d.
d, d.
d.
d.
318
3 18
3 2u
3 21
3 22
3 21
3 25
3 26
3 27
3 28
329

33%
33%
34%

Rye has been quiet and without change.
slowly and prices have declined.

T u e s ., A p r. 2

Open ■High Low. Clos. Open High Low. Clos. Open High Low. Clos.
d.

33%
33%
34%

316
316
317
3 19
3 20
3 21
3 22
3 24
3 25
3 28
3 27

3 15
3 15
316
3 18
319
3 20
3 22
3 22
3 24
3 25
3 26

3 16
316
3 17
319
3 20
3 21
3 22
3 24
3 25
3 26
3 27

B R H A D s T U F‘ F s.

25
20
20
65

GRAIN.

Wheat—
Spring, per b u sh ..
Red winter No. 2 ..
Red w i n t e r ..........
W hite.......................
Oats—Mixed, per bu.
W hite......... - ........ .
No. 2 m ixed ....... .
No. 2 w h ite.............

0.
57 ®
60%®
54 ®
67 ®
33 ®
37 ®
33%®
■__ ®

Corn, per bush—
0.
0.
71
West’n m ix e d ...... 50 ®
63
No. 2 m i x e d ....... 55 ®
63
W estern y e llo w ... 51 ®
71
W estern W hite___ 51 ®
35
Rye—
41
Western, per bush. 54 ®
34%
State and J ersey............. ®
__ Barley—No.2 West’n 60%®
State 2-rowed............... . ®
State 6-rowed___ _ . . . . ®

0.
56
56
56
56

59

...

61

...

The movement of breadstuffs to market as indicated in the
statement below is prepared by us from the figures of the
New York Produce Exchange. We first give the receipts at
Western lake and river ports, arranged so as to present the
comparative movement for the week ending March 30, 1895.
and since August 1. for each of the last three vears:
Receipts at—

Oati.
Bye.
Barley.
Wheat.
Com.
Flour.
Ebls.imbs Bush.80 lbs Bush.66 lbs Bush. 32 lbs Bush AS lb Bu.M lbs.

Ohloago.........
Milwaukee...
¡1nin th ........
Minneapolis.
Foledo..........
D etroit.........
Oleveland....
it. Louis.......
Peoria......... v
Kansas City.

57,001
35,250
13,571
1,969
1,800
9,780
26,410
6,300

608,024
7,800

117,750
154,648
343 320
792,790
234,000
42,263
67,304
36,569
10,200
4,288

15,820
250,5)0
37,795
24,318
91,350
201,210
2,177

903,138
181,000
23,812

250,400
59,200

35,300
21,600

1,700
9,061
59,393
118,775
180,400
4,677

1,200
8,470
6,041
14.250
34,300

200

2,800
F r i d a y , April 5, 1895,
1,800
In the market for wheat flour, spring patents have been in
plentiful supply, and while prices have not been quoted lower,
61,700
373 86i
152,081 1,803,132 1,241,981 1,481,959
Tot.wk, 95
buyers of round lots could have obtained concessions. The lam e wk,’94.
63,280
419,141
245 808 1,488.014 2 185,928 2.029,553
62,116
413,009
155,771 2,»43,852 1,891,441 1,908,865
lo w grades of winter-wheat flour have had a fair call at full lam e w k,’93.
Aug. 1.
values. Other grades have been quiet but steady. Rye flour fines
2,028,983
29,069,748
1894-95, ... 8,455,473 122,037,946 57,135,293 63,337,571
was quiet but steady. Corn meal has been moderately active
8,793,831 125,933,419 116,452,772 85,290,633 26,470,364 2.803,084
1893-94. ...
1892-93.....
9,210,038 197,949,338 83,565,591 79,140,442 26,714,710 6,385,320
a t a decline of 5c. per barrel. To-day the market for wheat
The receipts of flour and grain at the seaboard ports for the
flour was quiet and unchanged.
Early in the week the market for wheat futures declined un­ week ended March 30, 1895, follow:
Ri/e,
Barley.
Oats,
Com,
Flour,
Wheat,
der liquidating sales by “longs,” prompted by reports of rains
bush.
bush.
bush.
bush.
bush.
bbls.
Beceipts at—
850
40,800
250.910
120,900
91,000
New York..............
in the needed districts throughout the West, but subsequently Boston....................
15,800
129,755
253,013
9,875
450
40,700
6,153
............
M
ontreal.
part of the decline was recovered on fairly liberal purchases P hiladelphia........
37,600
78,581
9,976
99,602
6,905
19,482
219,290
31,877
»1,143
Baltimore..............
for export and advices from the West stating that more rain Richmond.............
31,250
6,613
1,583
• •••
22,5 L5
49,125
137,614
was needed. In the spot market shippers were fairly good New Orleans . . . . .
94.650
7,755
570.18L
311,592
722,018
T o tal w eek.... .. 387.351
buyers during the last half of the week at steady prices. The
16,668
79.849
914.091
746,306
156,198
eek 1894............. .. 432,006
sales yesterdav included No. 2 red winter at l%c.@2c. over W The
total
receipts
at
ports
named
in
last
table
from
Jan.
1
May f. o. b. afloat for special forward loading a ad No. 2 To­
four years:
ledo red winter at about 2c. over May delivered. To-day the to March 30 compare as follows for
1892.
1893.
1894.
1895
market was fairly active, and prices further advanced in re­ Floor..'.............
4,800,312
4.270,269
4,560,087
3,822,133
sponse to stronger foreign advices, accompanied with buying
19.075,007
8.643,729
3,131,718
.bush. 4.158.190
orders. The spot market was quiet but steady. The sales
42,717.973
19,370.110
10,934,359
7,158,190
12,031,003
8,7i9,»49
7.892,967
included No. 2 Toledo red and No. 2 red winter m ixed at
2.171.727
1,964,709
L495.821
1.196,531
2%c, over May f. o. b. afloat.
1,653,836
172,774
72,262
100,358
Rye.................. .
DAILY CLOSING PRICES

May delivery....................o.
Ju n e d eliv ery ................ o.
Ju ly d e liv e r y ...............o.
A u gu st d elivery........... .c.
Septem ber d e liv e r y ....o .
Decem ber delivery....... o.

Sat.
60*8
60 7s
6L%
61%
61%
64%

NO. 2 RED WINTER WHEAT.

Mon.
60%
60%
61%
61%
61%
64%

Tues.
60%
■mmm
60%
61
61%
«3%

Wed.
60%
60%
60%
61
61%
63%

Thurs.
60%
61
61%
61%
61%
64%

Fri.
61
61%
61%
61%
62%
64%

The trading in the market for Indian corn futures has been
slow and the changes in prices have been fractional. During
the first half of the week there was a slight decline in sympa­
thy with the weakness in wheat and under the improved
weather conditions at the West, but later the loss was fully
i «covered. The spot market has been quiet but about steady.




T o tal grain. ees.eee 19,705,174'

31,962,878

30,435,320

77,649,54«

The exports from the several seaboard ports for the week
ending March 30,1895, are shown in the annexed statement:
Peas.
Wheat.
Oats.
Bye.
Corn.
Plow.
bush.
~Exports from—

bush.

New Y ork............
B oston..................
P ortland...............
P hiladelphia.......
Baltimore............
New O rleans.......
N orfolk .............
Newport N ew s...
M ontreal.............

410,608
131,484

T otal w eek ...
Same tim e 1894,

bush.

bbls.

93,583
66.256
17,621
84,859
329,143
55,039

93,723
23,753
1,964
33,171
70,735
030

85,714

30,714

693,495
732,215
713,514 1,836,386

251.690
162,911

36 000
28,403
90,000

bush.

5,4i6
500

5,916
5,339

bush.

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

14,97«
1,554
12,770

29,300
30,722

A p b il

THE CHRONICLE.

6, 1895.]

621

The destination of these exports for the week and since up in all grades. In bleached cottons advances are quoted of
Sept. 1,1894, is at> below. We add the totals for the corresin “ Lonsdale” and
in “ Fruit of the Loom,” 4-4
ponding periods of last year for comparison:
bleached, with an upward movement noted in other minor
.-------- W heat,------- » r----------Oom.---------% tickets. The demand for medium and fine grades has been
Exports lor
Week Siiice Sept. Week Since Sept. Week Since Sept. on a more liberal scale and there has been more doing, with a
1,1894. Mar. 30. 1,1894.
week and since Mar. 30. 1, 1894. Mar. 30.
bush.
bush.
bush.
bush.
firmer tone in low grades. Wide sheetings have occasionally
Sept. 1 to—
bbls.
bbls.
555,546 8.51», 187
323,052 20,193,203
U nited Kingdom 183.569 5.146.185
to %c. per yard, with considerable sales re­
159,690 3,305,611 advanced
373,443 8,138,527
754.134
C on tin en t............ 13,225
11,166
983
128,658
772,342
ported. Cotton flannels have been in increased request, with
8. & C. A m erica.. 2-1,917
6,«64
14,068
3.1,419
710,327
W est Indies........ 23.160
2,870
............
44,911 a firmer tone. Cotton blankets occasionally five per cent
229.881
B rit. N. A. Col’s.
4,305
93,318
1,988
25,439 higher than opening prices. Denims are selling at old prices
21,377
O ther co u n trie s..
1,514
732,245 12.335,223 with a moderate demand. Ticks in rather better request and
696,495 28.444,048
T o t a l................. 254,690 7.632.226
713,514 31,324,632 1,836,386 35,946.548 somewhat firmer. Other colored goods quiet, without change.
T o tal 1894............ 162,911 7,821,194
The visible supply of grain, comprising the stocks in granary Kid-finished cambricsyery firm and against buyers. Quilts are
at the principal points of accumulation at lake and seaboard dearer in one or two makes, but generally available at old
prices. Cotton crashes scarce and J^c. per yard higher for
ports, March 30, 1895, was as follows:
Oats
Rye,
Barley. leading makes. There is no improvement in the demand for
Com,
Wheat,
bush.
bush.
bus h.
bush.
bush.
In store a t—
6H4.000
313.000
2,000 fancy calicoes, which are easy to buy. Other prints unaltered.
New York ............. . ,. 5.499.000
132.000
25,000
229,000 Fine specialties in moderate request but frequently sold
Do
afloat.......... 1,228,000
60,000
‘50,000
A lb a n y ..................... .
33,000
31,000
95,000
271,000 ahead. Ginghams are featureless in seasonable lines, but
B uffalo......................... 2.464,000
199.000
541.000
some fair orders taken for early deliveries of new fall goods.
Do
a flo a t..... .. 296,000
1,321,000
5.057.000
96,000
28,000 There has been a considerable business in print cloths, which
C h icag o ............... . ..24.095.000
858.000
2.329.000
Do
a f lo a t.... 2,360.000
2,000
9,000
67,000 close with sellers refusing to accept 2j^c. per yard for extras.
.. 701,000
D u lu th ...................... ..1 L 785,000
85,000
T oledo...................... 2,151,000
299,000
D e tro it..................... .. 1,172,000
«
3 ¿,000
St. Louis.................. .. 2,938,000
..
14,000
C incinnati................
Bos to n ...................... .. 370,000
„
28,000
497,000
M ontreal..................
P hiladelphia............ .. 106,000
P eo ria....................... .., 269,000
In d ian ap o lis............ .. 169,000
K ansas City............. .. 489,000
B altim ore................ .. 397,000
M inneapolis............. ..16,282,000
On Mississippi R iver.

1,000

èòi.oòò

15,000

764,000

18,000

3,000

169.000

14,000

2,873,000

263,000

1,000

24,000
10,000

31,000
294,000

124.000
165.000
14,000
199.000
220.000
328.000
76,000
239.000
184.000
403.000

9,000
10,000

24,000

1,000
304.000
305.000
1*9,000
241.000
894.000
16,000

Total Mar. 30.1896.74,807,000
Total Mar. 23 1896.75,773,000
Total M ar. » 1 ,1894.71,636,000
• ¡Total A pr. 1 ih9.->.77,655,*06
Total A pr. 2,1394.41.028,000

19.000
2,000

5,000
1,000
5,000
22,000
35,000

44,000

287.000
272.000
415.000
895.000
1.643,000

787.000
962.000
636.000
1,116,000'
919.000

7,000

161*000

60,000

47,000

On canal and riv er..

55,000
...........

13,407,000
13,396,000
18,539.000
15,317,000
11,539.000

6.184.000
6.353.000
2.713.000
4.538.000
3.692.000

THE DRY GOODS TRADE.
N ew Y o r k , F r i d a y , P. M„ April 5, 1895.
The course of the market for cotton goods during the past
week has confirmed recent improvement in brown goods and
disclosed growing strength in other directions, notably in
bleached cottons and wide sheetings, in which some import­
ant advances have been quoted. The demand has been irreg­
ular, there evidently being still some diversity of opinion
among buyers who have not yet operated to any extent as to
the permanency of the recent improvement. Occasional
transactions, where sellers have cleaned up balances of stock
at little better than old prices, have given the impression here
and there that the market was hardly as strong as appear­
ances indicated, but it is noteworthy that tnere are few agents
willing to contract ahead to any extent except at some ad­
vance, a condition becoming quite general as stock goods dis­
appear. Some decrease in buying is natural after late exten­
sive operations in brown sheetings and drills, but there is still
evidence of the existence of large requirements yet unfilled,
probably sufficient to sustain the market through an ordinarily
dull period for the next sixty days and until fall needs necome
more pressing. The weather has not been favorable to busi
ness in cotton dress fabrics, and a falling off in supplementary
orders for these is noticeable, but with higher temperature
resumption of buying on a fair scale is looked for. Business
in jobbing circles has been noteworthy on account of the e x ­
traordinary demand for E. S. Jaffray & Co.’s stock under re­
ceivers’ sale conditions.
D o m e st ic C o t t o n G o o d s . —The exports of cotton goods
from this port for the week ending April 1 were 4,598
packages, valued at i204,406, their destination being to the
points specified in the table below:
New Y or k

to

1895.

1894.

Week. Since Jan. 1.

Week. Since Jan. 1

A p r . 1.

G reat B r ita in ...............
143
271
C h in a ..................................... .
665
In d ia ................ ......................... 1,336
Arabia........................................
A frica......... ..............................
West In d ies............................
Ì9 2
M exico.....................
125
Central Am erica.....................
555
South A m eiio a ....................... 1,246
Other Countries....... ..........—
65

1,105
899
9,993
1,990
6,424
2,575
4,543
763
2,633
13,321
1,740

102
84
1,700
650
1,511
99
419
12
230
869
13

1,639
940
23,995
3,266
6,831
1,789
5,6t 2
482
1,581
9,721
723

45,991
6,450

5,689
2,405

56,629
8,878

T otal.................................... 9,798
52,441
’"From N ew England m ill points direot.

8,094

65,507

T otal....................................
China, v ia V an cou ver*,...

4,598
5,200

The value of the New York exports for the year has
been $2,063,732 in 1895 against $2,999,634 in 1894.
Brown sheetings and drills, although in less active request
in coarse yarn makes, are very firm, with fine brown sheet­
ings moving upwards. The market appears to be well sold




1895.
Stock o f P r in t Cloths—
Mch. 30.
At Providence, 64 squares...........
At Fall River, 64 squares......... . . . . . 77,000
At F all R iver, odd siz es................ ....1 1 5 ,0 0 0
T otal stock (p ieces)................ .„

314,000

1893.
A p r. 1 .
2 7 .0 0 0
2 9 .0 0 0

593,000

56,000

market has presented no new feat­
ure in the demand for men’s-wear woolens and worsteds, both
new business and reorders being oa a limited scale. There
has, however, been an improvement in the manufacturing
situation, a number of strikes having come to an end, and
agents have been enabled thereby to make more liberal deliver­
ies oa back orders. The price situation is without material
change. Sales of overcoatings have been on a restricted
scale, but for cloakings thè demand has been fairly general in
staples and fancies. Cotton-warp cassimeres are inactive, as
are satinets, doeskin jeans and cotton worsteds. There has
been a good business done in new fall lines of woolen and
worsted dress goods. Low-grade soft wool fancies have sold
readily, as have mixtures of worsted and mohair in figured
and bouche effects and wool and silk mixtures in both low and
high-priced grades. The demand for flannels isjjuiet through­
out, but fair sales are reported of blankets at opening prices.
F o r e ig n D r y G o o d s . —The demand for fall dress goods has
been well sustained, and there has been an increasing busi­
ness in silks for tbe coming season. Current business in sea­
sonable lines has proved modeate in a regular way, but
cut prices to clean up stocks have effected a considerable
movement.
I m p o r t a t io n « a n d W a r e h o u s e W i t h d r a w a l s o f D r y Goods
The importations and warehouse withdrawals of dry goods
at this port for the week ending April 4, and since
January 1, 1895, and for the corresponding periods of last
year are as follows:
W

oolen

G o o d s . —The

1894.
Mch. 31.
204.000
320.000 >
69,000 S

622

THE CHRONICLE.

S tate

and

City DgfAfrTMSflT,

TE R M 8 O F 8 U B 8 C R IP TIO N .
C o m m e rc ia l a n d F in a n c ia l C H R O N I C L E con­
tains 4 0 to 6 4 pages, published every week,
S tate a n d City S u p p lem en t of C H R O N IC L E con­

tains I S O pages, published periodically.
In v e sto rs’ S u p p lem en t of C H R O N IC L E (a Cyclo­
paedia of Railroad Securities) contains 1 6 0 pages, published
quarterly.
Street R a ilw a y S u p p lem en t o f C H R O N IC L E

contains 8 5 pages, published quarterly.
Subscription to CHRONICLE for one year 8 1 0 .0 0 ,
which includes every issue of both Supplements.
Terms of A dvertising—(P er Inch space.)
One t im e . . . . . . . . . . . . . . . . . . . . $3 50 I Tnree Months (13 tim e s)..$ 2 5 00
One Month
(4 tim es).. 1 1 0 0 Six Months
(26 tim es).. 43 00
Two Months
(8 tim e s).. 18 00 | Twelve Months (52 tim es).. 58 00
(The above term s for one m onth and upward are for standing c a r d s.)

T h e p u rp o se o l this S tate a n d City D e p a r tm e n t

is to furnish our subscribers with a weekly addition to and
continuation of the State and Citt Supplement. In other
words, with the new facts we shall give, the amplifications
and corrections we shall publish, and the municipal laws we
shall analyze in the “ State and City Department,” we expect
to bring down weekly the information contained in the
State and City Supplement to as near the current date as
possible. Hence if every Subscriber w ill note in his Supple­
ment on the page designated at-the head of each item a
reference to the page where the item in the Chronicle can
be found, he will at all times possess a complete and fresh
cyclopaedia of information respecting Municipal Debts,
City Water Bonds Authorized.—Governor Werts, of New
Jersey, has signed a bill authorizing first-class cities in that
State to issue water-works bonds.
Green Bay and Fort Howard, W is., to Be Consolidated.—
The people of Green Bay and Fort Howard, Wisconsin, have
voted in favor of consolidating the two cities. Out of about
3,000 votes cast only 150 were against annexation. It is re­
ported that the new city will have a population of about
■23,000.

[ V o l . Jj A .

Eaton Rapids, Mich.—(C h r o n i c l e , vol. 59, page 889 and
1024.)—It is reported that $35,000 of water-works and electriclight bonds of this city, recently issued, have been declared il­
legal.
Evanston, III.—The people of Evanston w ill vote April 16
on increasing $33,000 of electric-light bonds.
Galveston, Tex.—C h r o n i c l e , 59, page 527.)—It is proposed
to amend Galveston’s charter so as to give the city author­
ity to issue $80,000 of street improvement bonds annually.
Glendive, Mont.—Proposals will be received until the 20th
for the purchase of $39,000 of bridge bonds, the loan to bear
interest at the rate of 6 per cent.
Gloucester, Mass.—(C h r o n ic l e , vol. 60, pages 96 and 188.)
—This city has negotiated two loans, one for $50,000 running
7 months and one for $25,000 running 8 months, at 3*80 per
cent discount and a premium of $6’50.
Grass Valley, Cal.—An election will be held April 2 to vote
on issuing $50,000 of bonds.
Hancock, N. ¥.—Sewer bonds to the amount of $5,000 will
soon be issued’
Hightstown, N. J .—An election will be held May 6 to vote
on issuing $20,000 of water-works bonds.
Holland, Mich.—(Chronicle , vol. 60, page 491.)—Electriclight bonds of Holland to the amount of 12,000 were voted
A pril!. The securities are to bear interest at the rate of 5
per cent, and the principal will mature in February, 19 )5.
Holyoke, Mass.—(C h r o n ic l e , vol. 58, pages 831, 915 and
953, vol. 59, pages 126, 129, 486, 526 and 935, and vol. 60,
pages 234 and 576 ) —On April 2, 1895, tue City of Holvoke
sold $150,000 of 4 per cent gold municipal bonds to E H. Rol­
lins & Sons, at 103’634and accrued interest. Tbe securities
are dated April 1, 1895. Interest is payable semi-annually on
April 1 and October 1, and the principal will mature April 1,
1905, both principal and interest to be Dayable at the National
Hide & Leather Bank of Boston, Mass. Ten bids were
received for the loan as follows :
E. H Rollins & Sons, Boston...................................................... ........103*634
H arvev Fisk & Sons, B oston............................................ ................ .1 0 3 -370
Cushman, Fisher & Co., B oston........... .................... ........................... 103*261
B loiigett, Merritt & Co , B oston................ .................... .................. Il03*214
Blake Brothers & Co., B oston .............................................................. 103*177
R. L. Day & Co., B o s to n ................. .............................. ................ ...1 0 3 * 1 5 9
Brewster, <’obb & Estabrook, B o sto n ..'................ .......... ...............! 103*157
Geo. A. Fernald & Co., B o s t o n ....... ....................... ..................... ..102*850
N. W. H arris & Co., B o sto n ................ ................................................102*820
J. W. Longstreet & Co., Boston .............................. ...........................102*730

Hudson, Mich..—City Treasurer Carrol C. Cobb reports
that at the election held ou Monday it was voted to issue bonds
to the amount of $6,000 for the purpose of extending the
water-works system. No decision has as yet been reached as
to the rate of interest and date of maturity of the loan.
The city is divided into two school districts, and the total
indebtedness of these districts is less than $5,000. This
amount, with $30,000 of water bonds, is all the city owes.
Jeffersonville, Ind.—A press report this week states that The securities at present outstanding draw 5 per cent interest
the city of Jeffersonville finds itself in a predicament, as and mature in 27 years. The assessed valuation is about
Messrs. Spitzer & Co., of Toledo, Ohio, who recently con­ $1,000,000; population, 2,500.
Indiana.—A list of the bids received on March 23 for $585,tracted for $60,000 worth of Jeffersonville bonds, issued to re­
deem outstanding indebtedness of that amount, have refused 000 of 3% per cent refunding funds of Indiana is given below:
Prem ium .
to take the loan. Some days ago Spitzer & Co., through their R. K leybolte & Co., C incinnati..............
$21,300 00
T. Lewis, D ayton...................................
18,176 00
attorneys, requested a statement as to the origin of the in­ Z.
Indiana Trust Company, Indianapolis
15,801 94
debtedness for the funding of which the new bonds were issued. N. W Harris & Co., C h ic a g o ..................
15,403 05
Blake Bros. & Co.. New Y ork)
8,833 50
This it is said revealed the fact that much of the indebtedness R. L. D ay & Co., B oston .........s ..............
Farson, Leach & Co., C h ic a g o ..............
8,877 00
.proposed to be funded was illegal.
W. J. H aves & Sons, Cleveland..............
F irst National Bank, Chicago................

B o n d P ro p o s a ls a n d N e g o tia tio n s .— We have r* aeived through the week the following notices of bonds
recently negotiated and bonds offered and to be offered for
«ale.

A ustin, Texas.—(C h r o n ic l e , vol. 58, page 744.)—It has
been recommended by the Mayor that the citizens vote on a
proposition to issue $200,000 of water and light bonds.
Boston, Mass.—The Committee on Metropolitan Affairs of
the Massachusetts Legislature has decided to report in favor of
authorizing Boston to issue school bonds as follows: For the
next two years $500,000 annually; for the succeeding three
years $400,000 annually. This makes $2,200,000 in all, which
is the amount that was recommended by the Finance Commit­
tee, but is more than was asked for by Mayor Curtis.
Concord, N. H.—(C h r o n i c l e , vol. 59, page 1155.)—A three
months’ note for $25,000 has recently been negotiated at 3M
per cent discount.
Connell Bluffs, Iowa.—It is reported that 4% per cent
10-20 year refunding bonds of this city to the amount of
$40,000 are being offered for sale.
Cuba, 111.—Water-works bonds to the amount of $2,000
have been voted.
Dawson, Ga.—Town Treasurer! R. L. Saville reports to the
C h r o n i c l e that an issue of bonds for $35,000 has been voted.
The proceeds of the loan will be used for the erection of water
works and an electric-light plant. The town at present has
no bonded indebtedness. Its assessed valuation is $1,126,000,
property being assessed at about three-quarters of its actual
value. The estimated population is 3,000. State tax rate per
$1,000, $10 50.




8,490 00
8,556 00

The bonds were awarded to tbe Indiana Trust Company.
The bids of R. Kleybolte & Co. and Z. T. Lewis had condi­
tions attached which could not be considered. The securities
are dated April 1, 1895, interest is payable semi-annually on
April 1 and October 1, at the fiscal agency in New York City,
and the principal will mature April 1, 1915, with option of
call after April 1, 1910.
Lockport, N. Y.—(C h r o n i c l e , vol. 60, page 534)—An elec­
tion will be held at Lockport on April 28 to vote on issuing
$25,000 of bonds for an electric- light plant.
Lorain, Ohio.—(C h r o n i c l e , vol. 59, pages 344 and 978, and
vol. 60, page 231.) Improvement bonds of this village to the
amount of $50,000 were sold on March 29 to Seasongood &
Mayer, of Cincinnati, at par. The securities fall due at the
rate of $5,000 yearly from 1914 to 1923.
Louisville, Ky.—(Chronicle , vol. 59, pages 245, 344, 572,
710, 751, 805, 846 and 890, and vol. 60, pages 100 and 534.)—
The Commissioners of the Sinking Fund of the city of Louis­
ville, Ky., have called for payment on May 1, 1895, five per
cent ten-forty-year municipal bonds to the amount of $45,000. The securities are dated May 1, 1880, and they will be
paid at the Bank of America in New York City. - Interest will
cease on May 1, 1895. Further particu lars regarding the
bond call will be found in an advertisement elsewhere in this
Department.
Malden, Mass.—(Chronicle , vol. 58, pages 611, 692, 744
and 787, vol. 59, pages 201, 245, 344, 385 and 535 ) - The $150,000 of sewer bonds recently voted by the city of Malden will
be dated May 2, 1895, bearing interest at the rate of 4 per

A p r il

THE CHRONICLE.

6, 1895.]

623

cent, payable semi-annually at the National Bank of Redemp­
tion of Boston, and will mature May 2, 1935. They will be
secured by a special sinking fund. It has not yet been de­
cided when the new bonds will be offered for sale.
Manchester, N. H.—C h r o n ic l e , vol. 58, pages. 787, 915 and
1046, vol. 59, pages 246, 300, 487 and 573, and vol 60, page 491.)
—This city has been authorized to borrow $200,000 for a new
bridge.
M assach usetts.- (C h r o n ic l e , vol. 58, pages 565, 650,691,
832, 877, 1003, 1046 and 1082, and vol. 59, pages 6L7, 664, and
vol. 60, page 576.)—The following proposals were received on
April 2 for the purchase of a $500,000 temporary loan falling
due Nov. 25, 1895.

years. Further particu lars regarding this loan will he fo u n d
in an advertisement elsewhere in this Department.
Newton, Mass.—(Chronicle, vol. 58. pages 917, 955 and
1046, vol. 59, pages 126, 164, 487, 526, 751, 891, 936 and 1156,
and vol. 60, page 188).—On March 29, 1895, the city of Newton
sold $25,000 of 4 per cent coupon highway stable bonds, due
February 1, 1915, and $20,000 of 4 per cent coupon school
bonds, due April 1, 1915, to N. W. Harris & Co., at 106’315
and accrued interest. Interest on the bonds is payable at the
National Revere Bank, Boston, or at the office of the City
Treasurer, that on the stable bonds on February 1 and August
I, and that on the school b ¡nds on April 1 and October 1.
Other bids received for the loans were as follows:

B rew ster, Cobb & Estab rook... 3*59 per cent per an n u m .
Curtis & M o tle y .......................... 3 ^ per cent per ann. and $29 prem ium.
R. L. D ay & C o ............................3% per cent per ann. and $51 premium.
Chas. Weil & Co............................ 3*74 per cent per annum .
P. S. M oseley & Co........... ...........3 H i6p c. per ann. and $13 50 premium.
E. R ollins Morse & B r o ..............3*47 per cent per annum.
Dunscomb & J en n ison ............... 3*3 p ct. per annum and $27 premium.

B id f o r
$45,000 bonds.
E. H . Rollins & S o n s ..................................... ..................................... 106*185
Brewster, Cobb & Estabrook............................................ ................. 105*794
R. L. Day & C o ...................................................................................... 105*789
Blodgett. Merritt & Co..................... . ................................................. 105*444
Blake Bros. & C o .............................................................................. . 105*064

The loan was awarded to Messrs. E. Rollins Morse & Bro.
M erchantville, N. J.—The people of this municipality will
vote April 9 on issuing $29,000 of improvement bonds,
Montclair, M. J .—(C h r o n ic l e , vol. 60, page 362),—It has
been recommended by the Finance Committee of Montclair
that an issue of $60,000 of additional sewer bonds be delayed
for the present.
Mound City, Mo.—An election will probably be held soon
to vote on issuing $15,000 of electric-ligbt bonds.
Newark, N. J .—A. proposition to issue $175,000 of bonds for
•a free public library is under consideration.
New Orleans, La.—Proposals will be received until May 7,
1895, at the banking house of Winslow, Lanier & Co., No. 17
Nassau Street, New York, or at the office of the Board of
Liquidation of the City Debt, New Orleans, for the purchase
of $352,500 of 4 per cent constitutional bonds. Interest will
be payable semi-annually on January 1 and July 1, at New
York or New Orleans, and the principal will mature in 50

Foote & French bid 105"73 for the highway stable loan and
105*60 for the school loan. W. J. Hayes & Sons bid 105*37 for
the highway stable loan and 105*26 for the school loan.
New York City.—(Chronicle,vol. 58. pages 691, 692, 745
796, 1046, 920; vol. 59, pages 39, 48, 716, 710, 805, 817, and vol.’
60, pages 188, 232, 268, 314 and401.)—City Comptroller Ashbel
P. Fitch reports to the Chronicle that $1,584,371 of 3 per
cent gold bonds, consolidated stock, for acquiring lands for
Mulberry Bend Park were awarded on April 3 as follows :

N EW

LO A N S.

N EW

A m ount
B idders—
awarded.
J. P. Morgan & Co., Blake Bros. & Co. and
H arvey F isk & Sons, for the entire lo a n ........ $1,579,371
Mrs. A nna C. B u r d s a ll................................ ............
5,000
Total .............................................

Bate.
100*17
100*50

.......................$1,584,371

The securities mature Nov. 1, 1924, and are exempt from
city and county tax, but not from State taxation.
Norwood. Ohio.—(C h r o n i c l e , vol. 58, pages, 877. 916, 955
1004 and 1083, vol. 59, pages 39, 84, 164. 202, 300, 487,573* 617*
664. 710, 847, 979,1156, and vol. 60, page 232.)—An election will
be held to vote on issuing $30,000 of bonds for an electric-light
plant.

LO A N S.

N E W LO A N S.

8 2 0 0 ,0 0 0

PROPOSALS FOR

C I T Y O F IN D IA N A P O L IS ,
REFUNDING BONDS.

C IT Y O F S T . L O U IS .

State of Georgia 372 Per Gent
20-Tear Bonds.

Proposals for 3'65 per cent 20*Year Cold
Renewal Bonds.

D epartm ent oe F inance , )
Office of Cit y Comptroller , >
I n d ia n a po lis . I nd ., March 27, i8«5 . )

E xecutive Departm ent , State of Georgia , )
A tlanta , M arch n t h , 1895. S
Sealed bids w ill be received by th e cti y o f In d ia n ­
By a u th o rity and in pursuance of a n A ct of th e
apolis, In d ian a, th ro u g h th e City Com ptroller, u n til

Mav 1,1895, a t 12 o’clock M„ fo r th e whole o r any
p a r t of $200,ouo refu n d in g bund» o f said city. Said
bonds will be designated “ Indianapolis R efunding
Bonds o f 1895,” will be dated Ju ly 1,1895, and will
b e in den o m in atio n o f $1,000 each, w ith in te re s t
coupons a ttach ed , will draw in te re s t a t th e ra te of
fo u r p e r c en t (4 per cent) p er annum , payable sem i­
a n n u ally on th e first day of J a n u a ry and first day of
-July o f each year, th e principal payable in tw en ty
<2o) years, a n d both principal a n d in te re st payable
a t th e banking house o f W inslow, L an ier & Com­
p a n y , New York.
T hese bonds are to be issued and sold for th e p u r­
pose o f tak in g up certain o u tstan d in g bonds of said
c ity w hich will becom e due J u ly 1, lo95, In th e sum
•of $200,000.
Bids fo r th e pu rch ase o f said bonds should be in ­
d o rse d “ Proposal fo r R efunding B onds,” and di­
re c te d to th e Cltv C om ptroller. Indianapolis, Ind.
B idders m ay bid fo r all o r any p a rt o f said bonds.
T h e proposals will be opened by th e City Comp­
tr o lle r a t fils office on th e first day of May, 1895, be­
tw e e n th e hours o f 12 o’clock M. a n d 2 o’clock P . M.,
a n d said C om ptroller will th ereu p o n aw ard said
bonds, or, If h e shall see fit, a p a rt or any n um ber
th e re o f, to th e h ig h est and b e st bidder therefo r, and
« h a ll h av e th e rig h t to accent a p a rt o f any bid and
flto aw ard upon any bid th e w hole o r any less n u m ­
b er of th e bo* ds oovered by such bid, h e being th e
sole ju d g e of th e sufficiency o r insufficiency o f any
bid; a n d h e may, in his discretion, aw ard a p a rt of
said bonds to one bidder a u d a p a rt to an o th er, or
h e m ay re je c t any o r all bids.
Each bid shall be accom panied w ith a duly certi
died check upon some responsible b an k o f th e City
o f Indianapolis, Indiana, payable to th e o rd er o f t he
•City T reasurer, for a sum o f m oney equal to five
© e re e n to f th e face or p ar value o f th e bonds bid
Kor, w hich check and sum of m oney will be fo rfeited
t o t h e city as agreed and liquidated damages, if
.bonds shall be aw arded upon said bid and th e pur•okaser sh all fail to ta k e up th e said bonds a t th e
p ro p e r tim e, or if fo r any reason such check shall
m ot h e p a 'd when presented fo r paym ent.
I f th e C o m p tr Her shall aw ard th e w hole o r any
p a r t o f th e bonds upon any bid or proposal, th e cer­
tified check Accompanying th e bid or p o p o salu p o n
■which su c h aw ard Is m ade shall be presented fo r
p a y m e n t by th e City T reasurer, a n d h e shall hold
t h e proceeds collected th ereo n u n til th e com pletion
•of th e pu rch ase and th e paym ent o f th e bonds so
.awarded.-; and all u n fo rfeited checks o f unsuccess­
fu l bidders will b e prom ptly re tu rn e d to th e person
e n title d th e re to .
T h e bonds aw arded will be delivered a t th e b a n k ­
in g house o f W inslow, L anier & Company, New
Y ork, J u ly 1, 4895, and m u st be ta k e n up and paid
f o r on th a t day. B u t th e d ate for ta k in g u» and pay­
in g f o r said bonds,’ so fixed, may be extended, a t th e
optio n of th e Com ptroller, for a period of te n days
follow ing said date, and th e p urchaser shall ta k e up
■a n d pay fo r th e sam e a t a n y tim e, upon th e re q u e st
-of th e C om ptroller, w ithin said te n days.
Said re fu n d in g bonds a re being offered fo r sa’e
■under and by v irtu e o f G eneral O rdinance No. 9,
1896, passed by th e Common Council o f th e City of
Indianapolis on th e 18th day o f March, 1895, and
■approved by th e M ayor M arch 25th, 1896, a n d all
bids, proposals and deposits will be m ade and re ­
c e iv e d su b ject to th e te rm s an d conditions m ore
fu lly s e t fo rth In said ordinance.

G eneral A ssem bly of th e S ta te of Georgia entitled,
“ A n A ct to provide fo r th e sale of th e N o rth e a ste rn
R ailroad; to m ake provisions fo r th e discharge of
th e liability of th e S tate on th e bonds of said R ail­
road Company, a nd fo r th is purpose to a uthorize th e
issue o f bonds of th e State, th e par value of which
shall be equal to th e am ount of th e S ta te ’s ilahl ity
by reaso n of Its e n d o rsem en t upon th e bonds of
said Com pany; to authorize th e exchange of said
S tate bonds with th e holders of said endorsed bonds
a n d to provide fo r th e sale o f so m any of th e said
S tate bonds as m ay be necessary to pay such of th e
endorsed bonds as shall n o t be th u s exchanged and
of all accrued in te re st on said endorsed bonds, and
for o th e r purposes.” A pproved December 18th, 1894.
Bids will be received a t th e T reasury of th e S tate
In th e City o f A tlanta, Georgia, u n til te n o’clock A.
M. on W ednesday, th e first day of May, 1895, fo r:—
A series o f th e bonds of th e S ta te of Georgia, to
pay th e principal and accrued in te re s t <f to e N o rth ­
e aste rn R ailroad bonds endorsed by th e State. Said
principal a n d In te re st am ounting to tw o hun d red
and n in e ty thousand ($¿90,000) dollars, m ore or less.
T h e num ber of bonds issued being determ ined by
tb e casn p aym ent m ade by th e purchaser o f th e
N o rth eastern R ailroad a t th e sale th e re o f on April
16th prox. a t A thens, Georgia. Said bonds shall be
o f th e d enom ination of five hundred dollars each,
and sh all be d ated May 1st, 18v>5, and due tw enty
years th e re a fte r, and shall bear in te re s t th re e and
one h a lf per c en t per annum , aud sh all be payable,
b o th principal a nd in te re st, a t th e office of th e
T reasu ry of th e S tate in th e City of A tlanta, Geor­
gia, and also In th e City of New York, a t such a bank
as th e G overnor m ay elect. To each of said bonds
coupons will be a tta ch e d fo r th e In terest due on said
bonds, w nlch will be paid sem i-annually on th e first
day o f May and N ovem ber of each year. A ll of said
bonds t<> be delivered a nd paid fo r a t th e T reasury
of tb e f ta te o r a t th e fiscal agency o f th e S ta te as
th e G overnor and T rea su re r m ay elect on th e first
day o f May, 1895, or as soon as th e bonds are deliv­
ered to th e purchaser. Said bonds will be non-taxable by any au th o rity w hatsoever in this State. All
bids m u st be accom panied by a deposit of te n th o u ­
sand dollars, to be m ade w ith th e T rea su re r o f th e
State, which deposit is m ade as a g u aran tee th a t th e
successful bidder w ill fa ith fu lly carry o u t his con­
tra c t as set fo rth In his bid m ade to tb e T rea su re r
as above called for. Said deposit m ay be m ade in a
check fo r th a t a m o u n t certified by a solvent bank
approved by th e T reasurer. T he rig h t is hereby
reserv ed to re je c t any and all bids and u n d e r a pro ­
vision o f th e A ct authorizing th e sale no bid w ill be
received a t a price less th a n par, no r will any bid be
received w ith any proviso or condition o th e r th a n
th a t called fo r in th e advertisem ent.
W. Y. ATKINSON, G overnor.
R. W . HARD EM A N , T reasu rer of Georgia.
M U N IC IP A L

AND

A n d a l l L o c a l S e c u r i t i e s B o u g h t a n d S o ld .

NEW YORK, BROOKLYN AND JE R ­
SEY C ITY BONDS A SPEC IA LTY.

W. E. R. SMITH,

P. C. TRUSLER, City Comptroller. 1 6 B R O A D S T R E E T ,




R A IL R O A D

BONDS

-

NEW Y O R K .

m ay o r ’s Offic e , St . L ouis , A pril 2d, 1895.
By v irtue o f Ordinance No. 18,018, authorizing th e
issue a nd sale of renew al bonds of th e City of S t .
Louis, sealed proposals fo r th e purchase of n in e
hundred and seventy-five th o u san d dollars ($975,000 00) in said bonds, h e re in a fte r described, or any
portion th ereo f, will be received a t th e M ayor’s
Office, in th e City of St. L ouis, u n til 12 o’clock noon
of th e 23d day of April, 1895, and publicly opened by
th e undersigned a t said place and hoar.
Said bonds will be dated May 1st, 1895. a nd w ill
each be of th e denom ination of $1,000 U uited S tates
G Jd Coin, payable tw enty (20) years a fte r th e ir
date, a nd will b ear in te re s t from th e ir d a te a t th e
ra te of th re e 65-luO (3 65) p e rc e n t per annum . Semi­
a n n u al In te re st eoupons pavable on tn e 1st day of
May a nd N ovem ber respectively will be a tta ch e d to
each bond, and both bonds and coupons will be pay­
able to bearer, as be m ay elect, e ith e r a t th e N a­
tio n a l Bank of Commeroe, In New Vork, In U nited
S tates Gold Coin, or a t th e N ational Bank of Scot­
land, Lim ited, 37 Nicholas Lane, London, England,
in pounds sterling, a t th e ra te of fo u r dollars,
eighty-six cents, six and o ne-half mills ($i 8665) per
pound sterling. T h e bonds will co n tain th e condi­
tio n th a t in paym ents of principal aud i n t e e s t th e
U nited S tates gold dollar and th e pound sterlin g
will be calculated a t th e presen t stan d a rd w eight
and fineness. T he bonds m ay be exchanged fo r re­
gistered bonds a t any tim e.
Bidders a re requested to s ta te in th e ir proposals
th e price, offered per bond, th e par, prem ium a nd
accrued in te re st to be sta te d as one am ount.
Proposals m u st be accom panied by a deposit of
cash or certified check, payable to th e o rd e r of th e
c o m ptroller (and subject to ,hls approval) equal to
five (5) per c en t of th e nom inal am ount of th e bonds
bid for; said deposit to be re tu rn e d if th e proposal
is n o t accepted, otherw ise to be held su b jec t to fo r­
fe itu re to th e city in e v e n t of failure o n th e p a rt of
th e bidder to comply w ith his proposal, o r in case of
com pliance to be re ta in e d as p a rt of th e purchase
m oney. A deposit la th e required am ount to th e
c redit of th e City of St. Louis, in th e N ational B ank
of Commerce, in New York, or in th e N ational Bank
of Scotland, L im ited, London, will be accepted as
lu ll com pliance w ith th e requirem ents re lating to
deposits. No in te re s t w ill be allow ed on e arn est
m oney deposited by th e successful bidder.
P roposals will be subject to all th e conditions an d
reservations of th is advertisem ent, and m u st re fe r
to sam e as a portion of th e agreem ent on th e p a rt
of th e bidder.
Proposals should be enclosed and addressed to th e
undersigned an d endorsed “Proposal fo r P u rc h a se
of St. Louis City Bonds ”
T he aw ards will be s u b jec t to th e approval of t h e
C om m ittee on Ways a nd M eans o f both branches Of
M unicipal A ssem bly.
T h e bonds will be delivered against p ay m en t
th e re fo r in c u rre n t fu n d s a t th e office of th e Comp­
troller, in th e City of St. Louis, on th e 13th day of
May, or, if th e bidder so elects in his proposal, a t th e
N ational B ank of Commerce, in New York, on th®
15th day o f May, 1895.
Of th e am o u n t of bonds authorized by O rdinance
No 18,018. $377,000 will n o t be issued, as m a tu rin g
bonds to th is am ount will he redeem ed and re tire d
by th e Sinking Fund.
A sam ple bond can be seen and fu r th e r i n f o r m a l,
tio n obtained a t th e office of th e C om ptroller
B lank form s of proposal can be o b tained on a ppli­
cation to th e Comptroller.

C. P. WALBRIDGB, Mayor
ISAAC H. STURGEON, Comptroller

624

THE CHRONICLE.

Portland, Me.—(Chronicle, vol. 60, pages 51, 187, 283, 236,
316 and 402.)—It is reported that, this city has borrowed $200,000 for seven months at 3% per cent discount.
Rensselaer Connty, N. Y.—(Chronicle, vol. 58, page 788,
and vol. 60, page 402.)—On March 28, 1895, the following bids
were received for $120,000 of 3)^ per cent registered court­
house bonds of Rensselaer County :

$38,000 were recently sold at lOO^g. Nine bids in all were re­
ceived for the loan. Interest at the rate of 4 per cent is payr
able semi-annually in N. Y . and the bonds mature in 20 years.
St James, M inn. — (C h r o n i c l e , vol. 58, pages 832 and 879,
and vol. 59, paae 84 ) —Proposals will be received until April
15 for the purchase of $30, 5 p. c. $30,000 ccurt-house bonds.
St. Louis, Mo.—(C h r o n i c l e , vol. 58, pages 651, 878, 952,
vol. 59, page 1070, and vol. 60, page 400.)—Proposals will be
rectivtd until April 23, 1895, by Mayor C. P. Walbridge and
Comptroller Isaac H. Sturgeon for the purchase of $975,000 of
3-65 per cent city of St. Louis gold renewal bonds. The secu­
rities will be dated May 1, 1895, interest will be payable semi­
annually on May 1 and November 1. either at the National
Bank of Commerce, in New York, in United States gold coin,
or at the National Bank of Scotland, Limited, 87 Nicholas
Lane, London, England, in pounds sterling, at the rate of
48635 per pound sterling. The bonds will contain
the condition that in payments of principal and inter­
est, the United States gold dollar and the pound ster­
ling w ill be calculated at the present standard weight and
fineness. The principal will mature May 1,1915. In connec­
tion with the notice of this bond offering we have received
from the city officers the following statement:
“ The bonds offered are in renewal of part of the bonds
falling due during the ensuing fiscal year, commencing Apr.
9th, 1895, and ending April 13th, 1896. The bonds fall due as
follows : $1,157,000 on Mav 1st, $45,000 on July 21st and
$50,000 on November 17th, 1895 ; and $100,000 on January 1st,
1896; total falling due, $1,352,000. Of this amount only
$975,000 will be renewed ; the remaining $377,000 will be re­
deemed and retired by the sinking fund.”
“ The State Constitution and the city charter authorize the
renewal of valid indebtedness existing on Nov. 30th, 1875,
but limit the city in its power to incur additional debt.

The sfcuriti* s are dated April 1, 1895, interest will be pay­
able semi-annually on April 1, and October 1, and the loan
willm ature at the rate of $6,000 yearly from April 1, 1911, to
April 1, 1980. Principal and interest will be payable at the
office of the County Treasurer. The total bonded debt of the
county is at present $438,000. The assessed valuation for
,1894 Was $78,822,629. The above-mentioned loan is the sec­
ond series of an authorized issue of $315,000. The amount of
the first series was $90,000, dated April 1, 1894, and matures
at the rate of $6,000 yearly from April 1, 1896, to April 1,
1910. The third and last series will be for the sum of $105,000,
of which amount $7,000 will mature yearly from April 1,
1931, to April 1, 1948. None of these bonds will be renewed
when due ; a special tax will be levied annually sufficient to
pay principal and interest.
R en ville, Minn.—Bonds to the amount of $30,000 have
been voted for water works.
Sag Harbor Union School D istrict, L. I.—Four per cent
bonds of this district to the amount of $2,700 were sold on
March 30 to Charles Pierson, of Bridgehampton, at 100J£. In­
terest on the loan is payable semi-annually, and the bonds
w ill mature at the rate of $500 yearly from April 1, 1904, to
April 1,1908, and $200 on April 1, 1909.
Sangns, Mass.—Water-works extension bonds to the
amount of $5,000 have been voted.
Sheffield, 111.—Water-works bonds of Sheffield have been
voted by the Council.

N E W LO A N S.

$ 3 5 2 ,5 0 0
City of New Orleans Bonds. New
R. M. WALMSLEY.
President.

T. WOLFE, Jr.,
Secretary.

O F F IC E

Board of Liquidation,
City Debt,
R oom 5, Cit y H all ,
)
New Orlean s , April 3, 1895.j
The Board of Liquidation or the City Debt of the
City of New Orleans htreby invite proposals for the
purchase tor cash of three hundred and flfty-two
thousand five hundred (¡1852,500) dollars, or any
art thereof, of the Constitutional Bonds of the
lty o f New Orleans, to be issued under the Consti­
tutional Amendment and A«-f "f the Legislature of
the State of Louisiana, No. ll'i, of 1890, approved
July 8th, 1890, pa> able fit y years after date, bear­
ing Four Per Cent Interest per aimum, represented
by coupons ma wing n si w January and first of
July, payable in New York and New Orleans.
All accepted proposals to purchase bonds under
this advertisement must be completed at the office
of the Board of Liquidation of the City Debt on the
fifteenth of May, 1895, by the payment in cash of
the price bid and the delivery of the bonds.
The Board reserve the right to reject any and all
bids.
Sealed proposals will be received till Tuesday, the
seventh of May, 1895, at the banking house of
Winslow, Lanier & Co., No. 17 Nassau street, New
York, or. at the office of the Board of Liquidation
Of the City Debt, Room 5, City Hall, New Orleans.
R. M. WALMSLEY, President.
T. WOLFE, Jr., Secretary.

S

OFFICE OF COMMISSIONERS OF THE SINKING
FUND OF THE

Dated April 1st, 1893; due April 1st, 1913. Interest
April and October 1st, In New York.
True valuation, estimated..............$12,000,000
Assessed valuation......................... 6,09«,796
Net debt.............................................
262,000
Population, 1890..................... 4,059
“
1893......................7,000
New Whatcom is the county-seat of Whatcom
County, and the fourth city in size in the State of
Washington. It is located upon Bellingham Bay,
which affords the finest harbor upon Puget Sound,
and Is connected by daily boats with Seattle and
Tacoma. The Great Northern Railroad and Cana­
dian Pacific Railroad provide New Whatcom with
two trans-continental lines, while the Northern Pa­
cific Railroad is now within twelve miles of the City.
The City has several banks, schools, newspapers,
and large mills from which lumber is shipped to
California and foreign ports. Constitutional limit,
5 per ceut of assessed valuation, exclusive of water­
works and sewer dtbt. The water-works, for which
these Bonds are issued, return a revenue to the City
after meeting the annual Interest charge.
Legality approved by Messrs. Storey & T horn d ir e , Boston, Mass. Legal investment for New
Hampshire and Rhode Island Savings Banks.
Price, 103 and interest.

German-American Investment Co.,
5 2 W a l l S tr e e t« N e w Y o r k .

BOSTON
30 and 4 0 YEAR

N. W. HARRIS & CO.,

T o b e s o ld M a y 1 s t , 1 8 9 5 .

Drawing Five Per Cent Interest Seml-annual'y
fo r further particulars address,
J H. WEBER, Town Recorder,
CASCADE, IOWA.




Choice Investment Bonds of Cities,
Counties and School Districts.
LISTS MAILED UPON APPLICATION.

$ 9 0 ,0 0 0
Great Falls, Montana,

10-20 Year 6% School Bonds.
A S S ’D . V A L U E ,......... $ 8 , 5 0 0 , 0 0 0 .
TOTAL. D E B T ,
1 6 0 .0 0 0 .
P O P U L A T IO N , 1 2 ,0 0 0 .

Farson, Leach & Co.,
NEW Y O R K .

^ ^ o S .
L ouisville , Ky., April 8,1895.
P r ic e a n d P a r t i c u l a r s o n A p p l ic a t io n .
Notice is hereby given that the City of Louisville
has called for payment on May 1st, 1895, its Munici­ N e w L i s t o f M u n ic ip a l a n d S t r e e t R a i l ­
pal Five Per Oeut Ten-forty Bonds, dated May 1st,
w a y B on d s.
1880, of one ibousand dollars each, numbered from
one to five hundred Inclusive, and payable at the
Bank of America, New Yoik. lute rest on said bonds
will cease on the 1st day of May, 1895.
HENRY 8. TYLER, Mayor.
BANKER8.
CHAS. H. GIBSON,
15 W A L L ST R E E T ,
NEW Y O R K .
President Sinking Fund Commissioners.

Town of Cascade, Iowa,
Water Works Bonds,

FIN A N C IA L.

$ 3 0 ,0 0 0 * 0 0
Rudoloh Kleybolte & Co.
Whatcom, Wash.,
In ve stm e n t B a n k e r s ,
Gold 5 l-2s.
3 0 W e s t T h ir d S t r e e t ,
C in c in n a t i, O h io .

C IT Y O F L O U IS V IL L E .

$ 10,000

LX,

South Rend, In d .—(Chronicle , vol. 59, pages 127 and
891).—Refunding bonds of South Bend to the amount of

Troy Savings Bank.......................................................... $ 6 0 ,f0 0 ® 105*2
& eokH . M o r r is o n ................................... •„.................. 120,000 ® l O l ^
W. I. Quintard.................................................................... 120,000 ® 100 79
Weatherby <fc W ilbur................................................. .
120,000 ® Par.
Jam es Brackett ............................
.......................
60,000 ® 101
Blake Bros. & Co ........................... ............................ 120,000 ® 102-83
Whann & Schleeinser......... . ..................................... . 120,oOO ® 100*8

N E W LO A N S.

VOL.

James N. Brown & Co.,
BANKERS,
6 2 C ed ar S tr e e t,

.

-

NEW Y O R K .

MUNICIPAL, COUNTY, SCHOOL A N D
TOWNSHIP BONDS

BOUGHT

AND

SOLD.

W
A D D A ATTii
TT - f x x v x v i l . i l 1 io

SELECTED WASHI N G T O N STATE
COUNTY, CITY AND SCHOOL.

J N O . P . D O R R «& C O ., S e a t t l e . W a s h .

C H IC A G O .

Correspondence Solicited.
List mailed upon application.

GOLD

BONDS.

MUNICIPAL SEOUKITIES
Legal Investments for Savings
Banks and Trustees in
New York State.
W HANN & SCH LESIN G ER"
BANKERS,
2 W a l l S t r e e t , N e w Y o r k .-

W. J. Hayes & Sons,
BANK ERS,

Dealers in MUNICIPAL BONDS,
Street Railway Bonds, and other high grade in­
vestments
BOSTON, MASS.,
C le v e la n d , O h io , “
7 Exchange Place.
3 1 1 - 3 1 3 S u p e r io r S t .
Cable Address, "KENNETH ."

THE CHRONICLE.

A pr il 6, 1895.]

“ The payment of interest on the city’s debt is provided for in
-Section 11, Article Xi, of the. State Constitution, and Section 1,
Article V., of the city charter, which require the levy of a tax
sufficient for the purpose. The same sections lim it the rate
of taxation for general municipal purposes to one per cent of
the assessed valuation of taxable property.
“Article XIV. of the city charter provides a sinking fund
applicable to the payment of the bonded debt of the city
which was outstanding April 7, 1890. This law requires that
a sum not less than $1,200,000 shall be annually appropriated
for the payment of the debt'and interest; that portion of the
annual appropriation not required for payment of interest
constitutes the sinking fund. It is estimated that by the op­
eration of this law the debt w ill be extinguished in about
thirty-three years. The interest charges on the city’s bonded
debt during the current fiscal year, which w ill close on the 8 th
prox., will be $987,000. The amount of bonds redeemed and
retired by the sinking fund during the year is $72,000, as only
a part of the revenue of the fund could be used for the pur­
pose.
“ The bonded debt of the city aggregates $21,024,711 55.
This amount includes the bonded debt of the former county
of St. Louis, assumed by the city at the time of separation of
county and city, amounting to $6,111,000, and the bonds is­
sued for water-works purposes, amounting to $5,808,000,
leaving the bonded debt of the city proper $9,105,711 55.
“ The city has no floating debt. At the close of the fiscal
year there will be in the treasury, after charging against it all
liabilities, except the bonded debt, unappropriated surpluses
in all the. revenue funds.
“ The city owns its water-works, the revenue from which
for water-rates, etc., for the fiscal year 1894-95 is estimated at
$1,265,000; the operating expenses and cost of collecting the
revenue, $503,540. The city also owns its hospitals, insane
asylums and poor-house, city hall, court-house, jail, house of
retuge and correction and work-house. The water-works are
valued at $15,000,000, and all other property belonging to the
city at $16,000,000, an aggregate of $31,000,000.
“ The assessment for the taxes of 1895 is not yet complete,
but sufficiently advanced for an estimate, and shows that the
assessed valuation of taxable property in the city will probably

M IS C E L L A N E O U S .

MUNICIPAL

BONDS

FOR INVESTMENT.
P A R T IC U L A R S UPON A P P L IC A T IO N .

DEALERS IN COMMERCIAL PAPER.

Blake Brothers & Go,,
3 8 ST A T E ST R E E T , BO STON .
8

NASSAU

S T ., N E W

YORK.

not be less than $324,375,000. The valuation for the taxes o f
1894 was $310,341,850. The valuation for purposes of taxa­
tion represent, it ie estimated, between three-fifths. and~twothirds of the actual value. The rates of taxation per $1,000
valuation are as follow s: For State, $2 50 ; for schools, $4;
for city (debt interest and municipal), $13 80; for public
library, $0 20 ; aggregating. $20 50.”
The official advertisement o f the bond sale will be found
elsewhere in this Department
Trenton, N. J .—(C h r o n i c l e , vol. 58, page 1048, vol. >*59,
pages 247, 303 and 574, and vol. 60. page 403.)—This city has
been authoriz°d by the Legislature to issue bonds for an
electric-light plant.
V erm illion, Ohio.—The people of Vermillion have voted
down a proposed issue of water-works bonds to the amount
of $20,000.
Watonwan County, Minn.—Proposals will be received until
April 15, 1895, by the County Auditor for the purchase of
$30,000 of 5 per cent court house bonds. Interest will be
payable annually, and the bonds will mature at the rate of
$10,'000 each year in 1900, 1905 and 1910. The county has at
present no bonded indebtedness and its assessed valuation in
1894 was $2,979,999; estimated actual value, $10,000,000.
Wesley, Iowa.—Water-works bonds to the amount of $5,000
have been voted.
W inchester, Mass.—(C h r o n i c l e , vol. 58, pages 789 and
879, and vol. 60, page 492.)—The people of Winchester will
vote on issuing $40,000 of bonds for an electric-light plant.
Winona, Minn.— An election will soon be held to vote on
increasing $55,000 of electric-light bonds.
Yarmouth, Me.—Bonds of this town to the amount of $40,
000 have been voted for water-works.
Yonkers, N. Y.—(C h r o n ic l e , vol. 58, nages 649, 746 and
957, vol. 59, pages 128, 165, 241, 345, 387,527, 666, 979,1069
and 1157, and vol. 60, pages 269 and 315.) A bill authorizing
Yonkers to issue $300,000 of water-works extension bonds has
been signed by the Governor.
^

M IS C E L L A N E O U S .

C H IC A G O .

BONDS.

Loeb & Gatzert,

MORTGAGE BANKERS,
City o f P ittsburg, Pa.
1 2 5 L A S A L L E S T R E E T , C H IC A G O
City o f Brooklyn. N. Y.
City o f Denver, Col.
First Mortgages for sale In large and small amounts
City o f Pueblo, Col.
aettlng investors 6,
and 6 per cent, secured by
improved and income-bearing Chicago city property.
City of Davenport, Iowa.
P r in c ip a l an d I n te r e s t p a y a b le In’G old .
City of Superior, Wis.
City of Anderson, Ind
CORRESPONDENCE SOLICITED.
City of Youngstown, Ohio.
Price, description and fnll list of other Securities
on application.

A. O. SLAUGHTER, Member N. Y. Stock Exchange
WM. V. BAKER, Member Chicago Stock Exchange

C. H. WHITE & CO.,

A.. O.. Slaughter & Co.,

72 BROADW AY,
MEMBERS OF THE NEW TORE AND BOSTON
STOCK EXCHANGES.

625

-

-

NEW Y O R K .

BONDS.

BANKERS,

1 1 3 -1 1 7 LA SA LL E STR E ET,

C H IC A G O , IL L S .
C h icago S e c u r itie s B o u g h t a n d S o ld .

Legal Investments for Savings
BONDS
Banks in New York.
CITY, MASON, LEW IS

Street, Wykes & Go.,
4 4 W A L L S T R E E T , N EW Y O R K .

COUNTY
SCHOOL

™ ™°M
B
A C O ., Bankers

171 LA SALLE 8TREET,
SEND FOR LISTS.
CHICAGO

A. G. Becker & Co.,
(INCORPORATED)

S EC U R E BANK VAU LTS.

W. N. Coler & Co.,

C O M M E R C IA L P A P E R
154 La Salle St., Chicago, 111.

BAYRERS.

M UNICIPAL BONDS
34 N A S S A U STR EET.

8 % Municipal Warrants
O U R S P E C IA L T Y . Choice State, County and
City Issues always on hand. WASHINGTON IM­
PROVEMENT CO., 31 Equitable Building, Boston.

W M . F R A N K L IN H A L L

Jamieson & Co.,

GENUINE
WELDED CHROME STEEL AND IRON

S T O C K S —B O N D S ,

Round and Flat Bars and 5-ply Plates and Angles
FOR-SAFES, -VAULTS, Ac. - ....
Cannot be Sawed, Cut or Drilled, and positively
Burglar-Proof.

Members New York and Chicago Stock Exchanges

CHRONE

STEEL

W ORKS,

Kent Ave., Keap & Hooper Sts.,
Sole Man’f ’ers in the U. S. B R O O K L Y N , N . Y .

The Globe Filing System
is the m ost perfect
ever devised for the

1 8 7 DEA RBO RN STREET,
C h icago, I l l s .
Privato wire to New York and Philadelphia.

SEA RS

& W H IT E

Successors to
.........................EUGENE R. COLE.

_____ ___

S T A T IO N E R S A N D P R IN T E R S .

ACCOUNTANT AUDITED

S y stem a tic F iling of Papers

New forms designed for books of account.
Settlement of Insolvent Estates.
*18 Exchange Building, ML State Street, Boston

THE GLOBE CO., Cincinnati.

Supply Banks, Bankers, Stook Brokers and Cor­
porations with oomplete outfits of Account Books
and Stationery.
|3F~ New concerns organizing will have thel
orders promptly executed.

4» Beaver At.,.N. Y .

N o. 1 W I L L I A M S T R E E T .

BOOKS




Illustrated catalogue-free.

THE CHRONICLE.

$26

Stisutratucje.

^isctllviVLtons.
1850.

GEORGIA MORTGAGE LOANS.
SOUTHERN LOAN AND TRU ST COMPANY 0 »
MACON, GA.
■J. 8. SCHOFIELD, P res.
H . M. SM ITH, Sec.
F . O. SCHOFIELD, T reasu rer.
T h is com pany m akes a specialty o f handling a 11m•
tte d am o u n t o f th e b e st five-year m o rtg ag e loans
afforded by th is com m unity. Doing only a small
b usiness in th is line, w e can select th e best. Loans
secured by business p ro p erty n e t th e in v esto r six
p er cent, residence, seven p e r cent. P rincipal and
In te re st payable a t th e M erchants’ E x ch an g e,N a­
tional Bank. New York. Correspondence solicited.

Jos. O. Osgood,
M. Am. Soc. C. E.
Consulting Engineer.
R eports on In v e stm e n t P ro p erties fo r B an k e rt
a n d in v esto rs.
E x am in atio n s in regard to physical condition and
C haracter, earnings, m anagem ent, needs, value, etc.
R ailroad Location and Construction.

1iO BROADWAY,

• *

NEW YORK

. A. E. Hachfield,
INVESTMENT

S EC U R IT IES ;

t P in e Street, N ew Y o r k .
SP E C IA L T IE S: R ailroad Bonds a n d 8f jcks. Quote.
' tio iis fu rn ish ed on application and correi
pondence solicited.
W A N T ED : M emphis k C harleston RR. Bond*
C entral RR. k B anking Co. o f Georglt
bonds. Toledo A nn A rbor & N orth Michigan
all underlying Issues.

Given & Sicard,

26

&

FLO YD ,

Broad Street,

STOCK

BROKERS,

Wm. Fisher & Sons,
BANKERS AND BROKERS,
-

1895.

IN T H E C IT Y OF N E W Y O R K .
T his old and reliable Company now bas th e experlence Of forty-five years o f practical L ife Insurance,
which h as ta u g h t it t h a t th e sine qua non of success
Is th e adoption of good plans of insurance, a nd th e
p u rsu it o r a liberal policy tow ards both its In su red
and its A gents. T hese essentials i t possesses in an
em in en t degree, b u t judiciously tem pered by th a t
conservatism which is th e b est possible safeguard of
th e policy-holder. I ts contracts a re incontestable
a fte r tw o.years. T hey a re non-forfeiting, providing
generally fo r e ith e r paid-up policy o r extended insurance, a t th e option o f th e policy-holder. I t gives
te n oays of grace in paym ent of all prem ium s. Its
course during th e p ast forty-five years abundantly
d em onstrates its ab so lu te security.

B altim ore, M d.

BOUGHT AND BOLD

CLINTON GILBERT,
NEW

YORK

“ A U G U ST U S FLOYD,
D E A L E R IN

INVESTM ENT

S EC U R IT IES ,

Union Mutual
Life Insurance Company,

The Mutual Benefit
L IF E IN S U R A N C E CO., N E W A R K , N. J
AMZI DODD, P resident.
A ssets (M arket V alues) Ja n . 1 ,1805...........855,064,888
L iabilities (N. Y. an d Mass. S ta n d a rd ).... 51,813,853
Surplus................................................................ 3,850,535
Surplus, by fo rm er N. Y. Standard, (Am.
Ex. 4.14 per c e n t R eserv e).......................... 0,728,887

able ,

and all restrictions as to residence, travel or
occupation are removed.
Ca s h l o a n s a re m ade to th e e x te n t of 50 p e r cent
o f th e reserve value, w here valid assignm ents of
th e policies can be m ade as collateral security.
L o sses paid im m ediately upon com pletion and
approval of proofs.

S jP E Ç I A L

{¡S u

pplem ents

S IX P E R CENT INTEREST on th e outstand­
in g certificates of profits w ill h e paid to the
holders thereof or their legal representatives
on and after Tuesday, the fifth of February
n ex t.
FIFTY PE R CENT o f th e outstanding certifi­
cates o f th e issu e of 1890 w ill be redeem ed and
paid to th e holders thereof, or their leg a l rep­
resen tatives, on and after Tuesday, th e fifth of
February n ex t, from w h ich date in terest on
th e am ount so redeem able w ill cease. The
certificates to b e produced a t th e tim e of pay­
m ent and canceled to th e ex ten t paid.
A D IV ID E N D OF FORTY P E R CENT is
declared on th e n e t earned prem ium s o f the
Company for th e year en d in g 3 1 st Decem ber,
1894, for w h ich certificates w ill b e issued on
and after Tuesday, th e seven th o f May n ex t.
B y order of th e Board,
J . H . C H A P M A N , Secretary«

WILLIAM B . DANA COMPANY,

WILLIAM B. UANA COMPANY,
P in e S t , New York.

CHRONICLE VOLUMES

Corespond enoe Solicited .

, JGeorge Eustis & Co.,
BROKERS
________

A. Strassburger,
STO CK S & BOMBS B R O K E F

SINCE 1866.
A ny ofljce possessing th e se volum es since 1866 has
a t h a n d fo r co n v en ien t re fe re n c e a com plete and
reliable financial h isto ry of th e period. P a rties
having th e m ore re o e n t volum es can o b ta in from
th e publishers m o st o f th e earlier volum es, or com
píelo s e ts pan be fu rn ish ed .

WM. B. DANA COMPANY,

T H E R N IN V ESTM ENT SECURITIES,

TRUSTEES :

SA LE.

Large W all Map of the U. S,

STOCK BRO KERS,
. 4 3 2 L ibrary Street, P hilad elp h ia.'
Issu e an d m ail upo n application bi-m onthly qu o ta­
tio n s o f In activ e stocks an d bonds, a n d weekly
q u o ta tio n s o f all m unicipal com panies o f P n lla




VER

Can be had at office for 6 5 cents, or
mailed for 8 6 cents.

FO R

Robert Koons & Co.,

Montgomery, Ala.

q

A m ou n t..................................... $11,340,731 88

76H Pine stree t, New Y o r k .

— M IS C E L L A N E O U S S E C U R I T I E S .
________ t o state St.« Boston. I t a »

O H IO .

O

CHI? o n t o i e

AND D E A L E R IN

AM D

J F lL E

—FOR­

BROKER

C IN C IN N A T I,

L osses paid daring th e
sam e period......................$1,411,292 89
R eturns of P rem ium s
and E x p en ses.............$624,1 5 4 64

The Company has th e follow in g a ssets, viz.:
U nited S tates and C ity of N ew
York S to ck : City B anks and
other Stocks................................ $8,247,455 00
Loans secured b y Stocks and
o th e r w ise ..................................... 1,043,500 00
R eal E sta te and Claims due the
Portland, M aine.
Company, estim ated a t............. 1,009,845 30
A ddress e ith e r:
Prem ium N otes and B ills Re­
EDSON D. SCOFIELD, Supt.,54 W illiam 8t„N.Y.Clty
ceivab le ..........
855,693 14
THORNTON CHASE,Supt.,84 A dam s St.,Chicago,lll. I
Cash In B an k ................................. 9 184,238 44

Joseph G. Martín,

BANKERS

,

N e w Y o r k , January 2 2 ,1 8 9 5 .
The Trustees, in conform ity w ith th e Charter
o f the Company, subm it th e follow in g state­
m en t of its affairs on the 3 1 st o f December,
1894.
Prem ium s on M arine R isks from
1 st January, 1894, to 3 1 st
Decem ber, 1 8 9 4 ........................ $2,760,920 62
Prem ium s on P olicies n o t
m arked off 1 st January, 1894 1,106,515 77

INCORPORATED 1848.

3 2 P IN E S T R E E T , N E W Y O R K .
ST R E E T R A ILW A Y BONDS BOUGHT-and SOLD

STOCK

t
|
i
1

B y a F IR S T -C L A S S C O M P AN Y.

In Case of Lapse th e Policy Is continued in force
as long as its value w ill pay f o r : or if p referred, a
Paid-up policy fo r its fu ll value is issued In exchange.
A fte r th e second y ear Policies a re incontest ­

-

ATLANTIC MUTUAL
INSURANCE CO.

A g e n ts W a n te d

firclass

New Y o rk City and Brooklyn.

STREET.

.

O FFICER S:
I
G E O R G E H . B U R F O R D ............... President
a P . FR A LE IG H . ........................................Secretary
A. W H EEL W R IG H T ..................A ssista n t Secretary
9
------------------WM. T. STANDBN.............................................. A ctuary
A R TH U R C. P E R R Y ,........................................ C ashier
Total Marine P rem ium s......... $3,867,436 39
JOH N P. MUNN..... ........................... M edical D irector
FINANCE COMMITTEE:
Prem ium s marked off from 1st
GEO. G. W ILLIAM S............... P res. Chem. N at. B ank
JO H N J . TU CK ER........................
B uilder I
January, 1894, to 3 1 st D ecem ­
E. H . PERK IN S, JR,, P res. Im p. k T rad e rs’ N at. B’k
JAM ES R. P L U M .................................................L e a th e r I ber, 1 8 9 4 . . . . . . . . ........- .......... . $ 2,840,284 98

POLICIES ABSOLUTELY NON-FORFEITABLB AFTER
SECOND YEAR.

W ALL

O F F IC E OF T H E

A c tiv e a n d s u c c e ss fu l A g e n ts , w is h in g to rep*
r e s e n t th is C o m p a n y , m a y c o m m u n ic a te |
w ith th e P r e s id e n t a t th e B o rn e Office,
*
2 6 1 B r o a d w a y , N e w P o rk .

T R U S T COMPANY STO C K 8

6

^rasurara*«

The United States Life
Insurance Co.

AND D EA LER S IN INVESTM ENT SECURITIES

2 3 "SoniIr Street.'

- f

L IB E R A L CO N T R AC T S.
U N EXCE LLED P O L IC IE S

Mechanical and Civil Engineers.
G eneral Engineering. Draw ings. P a te n ts . Specifics
tions. Engine T ests. P la n s an d Reports,
Supervision o f C onstruction.
» a s ¡C H ESTN U T S T .. P H IL A D E L P H IA .

W A LSH

[V o l . L X .

7 6 1* Pine Street, New York.

J. D. Jones,
W. H . H. Moore,
A. A. Raven,
Joseph H. Chapman,
Jam es Low ,
Jam es G. D e Forest,
W illiam DeG root,
William H . Webb,
H orace Gray,
Charles P. Burdett,
H enry E . H aw ley,
William E. Dodgé,
George B liss,
John L. Riker,
C. A. H and,
John D. H ew lett,
G ustav A m sinck,
N. D enton Smith,
m

Charles H. Marshall.
Charles D. Leverich,
Edward F loyd-Jones,
G eorge H . M acy,
Law rence Turnure,
Waldron P . Brown.
A nson W. H ard.
Isaac B ell,
Joseph A gostin i,
Vernon H . Brown,
Christian de Thom sen,
Leander N. Lovell,
E verett Frazar,
W illiam B. B oulton,
George W. Quintard,
P aul L. Thebaud,
John B. Woodward,
G eorge CoppelL

J. D. JONES, P resident,
w. H . H . MOORE, Vice-President,
A. A. RAVEN, 2d V ice-P resid en t

THE c HÂONICLË.

I r a i t 6,1896»

Cotton.

&üttOU.

W OODW ARD
& STILLMAN, INM AN, SWANN& Co

i i

ffitm u x i& X c
Walter T. Hatch,
Henry Prescott Hatch, Arthur PcM n Hatch
Members of N. Y. Stock and Prodaoe Exchangee.

W. T. Hatch & Sons,
96 Broadway & 6 W all St., New York,

MERCHANTS

OOTTON MERCHANTS,

(6 to 22 WILLIAM S T R E E T ,
NEW

YORK.

S ew Y ork.

Dealers In investment stocks and bonds.
Personal attention given at the N. Y. Stock Ex.
Change for the purchase and sale on commission of
stocks and bonds for cash or on margin.
Interest allowed on deposits, subject to draft at
sight.

COTTON OP ATiTi GRADES SUITABLE TO
WANTS OP AMERICAN SPINNERS.
im u K ,

btbrn

ft

co„

Limited, New Orleans La.
Ala.

l ib b a w . tittr» co„ Montgomery,

LEHMAN

BROS.,

CO M M ISSIO N M E R C H A N T S ,

Nos. 16-22 W illiam Street,
NEW Y O R K .

uKMpy/RH OP THE STOCK, COTTON, OOPPXE AND PRODUCE EXCHANGES,
N ew York.

Order, executed on the above Exchange, a, well
„ m New Orleans, Chicago and foreign market*.

Henry Hentz & Co.,
COMM ISSION

M ER CH AN TS,

. 1 6 to 3 3 W illia m S t., New Y ork.
EXECUTE ORDERS FOR FUTURE DELIVERY

COTTON,
At the New York, Liverpool and New Orleans
Cotton Exchanges. Also order, for

F. H. Prince & Co f
BANKEP-S

BO STO N ,

MASS.

COFFEE,
At the New York Coffee Exchange, and

HIGH GRADE IN V E S TME NT S

G R A IN AND PROVISIO NS,
At the New York Produce Exchange
and the Chicago Board of Trade.

Members of New York and Boston 8tock Exchanges

Hubbard Bros. & Co., Hopkins, Dwight & Co.,
COTTON EXCHANGE BUILDING,
NEW Y O R K .

Cotton Commission Merchants.
Member, New York 8tock Exchange, New York
Cotton Exchange, New York Produce Exchange,
New York Coffee Exchange, Chicago Boai d of Trade.
Orders executed on the Exchange also for pur­
chase and sale of cotton for future delivery In New
Orleans and Liverpool. Liberal advances made on
cotton consignments.
P R IC E , R E ID de CO.,
N o rfo lk , Y a.
Special attention given to orders for cotton for
foreign or domestic shipment.
J , O. B l o i i .

G eo . h . c h u r c h ,

J. O. BLOSS & CO.,
COTTON

M ERCHANTS,

33 w illia m S treet,
MEW Y O R K .

Geo. H. M°Fadden & Bro.
CO TTO N M E R C H A N T S ,
P H IL A DELP H IA .
Liverpool Correspondents
F rederic Z erega dc Co.
Bremen Correspondents
M cFadden, Z erega dc Co.

COTTON, COTTONSEED OIL
AND
SOUTHERN PRODUCB

COMMISSION

MERCHANTS

Room 8 3 , Cotton Exehago Building,
NEW YORK.
Gustavo, 0. Hopkins, Lucius Hopkins Smith.
Charles D. Miller,
Samuel Hopklu*.

J. Spencer Turner,
SUCCESSOR TO

B r in c k e r h o ff, T u r n e r A C o .,

Fatman & Schwarz,
COTTON COMMISSION MERCHANTS.
1 W illiam S treet, N ew Y ork.
Member, New York Cotton, Coffee and Produce
Exchange,.
Oeo. W. b

ail y.

J. A. Montgomery

Geo. W. Baily & Co.,
COMMISSION M E R C H A M S,
COTTON AND NATAL STORES.

Gotten Exchange B ldg.
NEW Y O RK .
Execute Order, for Future Delivery of Cotton.
Correspondence Invited.

CO TTO N

AND

C R A IN

FOB FUTURS DELIVERY.

COTTON SA!L DUCK
AND ALL KINDS OF

COTTON CANVAS FELTING DUOS,
OAR COVERING BAGGING,
RAVENS DUCK, SAIL TWINE, *0*
POPE "AWNING” STRIPES.
A sm
UNITED STATES BUNTING CO.
A fall supply all Widths and Colon, always in
stodk.
10 9 D u an e Street, N ew Y o r k .

Bliss, Fabyan & Co.,

Theo. H. price ,
W. G. McCormick.
R. G. M. Stuart-Wobtley.

Price, McCormick & Co.




INVESTM ENT SECURITIES.

Hatch & Foote,
BA N K E R S,

No. 3 NASSAU STREET, NEW YORK,

INVESTMEJS T SECURITIES.
H enry C. hardy .

Gaston Hardt

H. C. Hardy & Co.,
BROKERS.

SOUTHERN SECU RITIES.
50 B R O A D W A Y ,

•

v

N EW YO R K

Fifth Avenue Hotel,
Madison Square, New York.

The largest, best appointed and most liberally
managed hotel In the city, with the most central
and delightful location.
HITCHCOCK DARLING ft CO.

BANKERS AND BROKERS,

CHAS. M. ROLKER, E. M.

Cotton E xchange B uilding, N ew Y ork.

M inin» Engineer and Metallurgist,

Members : New York Stock Exchange,
New York Cotton Exchange.
New York Produce Exchange.
Chicago Board of Trade.
Richard pric e Morgan.
Edward R. Morgan.
Dwight 0. Morgan,

Rich. P. Morgan & Sons,
R A IL W A Y E X P E R TS

D W IG H T , IL L IN O IS, U. 8 . A.
Having extended experience in the construction
and operation of railways, we offer our servicesAs
Independent experts to examine and report
upon the charater and Condition or the ConSTOCK B R O K E R S,
strution and equipment of Railways and also
their sate Net earning Capacity , We have
DRBXBL BUILDING, PHILADELPHIA.
recently examined for capitalists Mid. reported
Private wlres to New York Stock and Cotton separately upon nearly all of the principal railroads
west of Chicago between Canada and Mexico.
Sstkange* and Chicago ward of Trade,

Frederick Paxson & Co.,

A. S. Van Wickle,
BA N K ER ,

Geo. Copeland & Co.,

8. A. Fatman, Special.

In addition to a General Banking Business, Buy
and Sell Government Bonds and Investment Se­
curities.

No. 1 BROADWAY, NEW YORK.

Wm. BAY.

Paul Schwarz.

BANKERS,
N o. 6 3 C E D A R S T R E E T ,

MANUFACTURER AND DEALER IN

B. F. Evans, Special. MEW YO R K , BOSTOM ,PHILADELPHIA.
SELLING AGENTS FOB LEADING BRANDS
BROW N and BLEACHED SH IR TIN G S
and SHEETINGS.
COTTON B R O K E R S ,
139 P oarl Street,
New York.
PRINTS, DENIMS, TICKS, DUCKS, ftO.
Cotton landed at mill, from Southern market, a T ow els, Q uilts, W hite G oods and H osiery.
specialty. Order, for future delivery .contract,
Drills, Sheetings, dtc., for Export Vraie,
•vacated on New York Cotton Exchange.

M. T. Maine .

Gilman, Son & Co.,

3 0 NASSAU STR EET,

-

NEW YORK

In sp ects and reports on m lnee, m ills and
treatm ent of ores.
Refers, with permission to :
M essrs. J . dc W . SELIGMAN dc CO« » . *
H en . ABR AM S . H E W IT T , N. Y .
A . E IL E R S , P res’t. Col. Sm elting Oe
P neblo, Col,
TH E B R IT IS H SOUTH AFR IC A CO«
19 St. Swithins Lane, London, K O,
BARON EM ILE B . D’E R L ANGER,
48 Lothbury, London, B. C.
A LFR ED BEIT, Es«.,
Of MESSRS. WBBNHBR, BEIT ft CO,
ISO Blshopsgate Street, Within, Loudon, k 0

THE CHRONICLE.

X

f V o L .: L x

LATHAM,ALEXANDER&CO.
'

BANKERS,
AND

.

COTTON COMMISSION MERCHANTS,
/

Nos. 16 and 18 WALL STREET,
_i

DSTe“w

"'ST03?Us..

Conduct a General Banking Business.
Accounts of Banks, Bankers, M erchants and
Individuals received on favorable terms, and Interest
allowed on Daily Balances, subject to Check at Sight

Contracts for Cotton for Future Delivery Bought and Sold on




Commission.