The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
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xtmtlt
HUNT'S MERCHANTS* MAGAZINE,
BEPRESENTINQ THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATEa
VOL.
SATURDAY, AUGUST
41.
%hz €hvonuU.
The Commercial xsd Financial Chronicle w
New York every Sdlurdai/ morning.
[Entered
nt the
Post
Ollloe,
Now York, N. Y.. oa second olaasmall matter.]
ForOni- Yp.tr (iuoludlng postage)
For Sl^ Months
ilo
JWv.
J
)
''»
*
1885.
$10 20
Anuiial siibscriptiou In Lomloii (iucUidlut.' p'oetagc") ......
Six Mi)8.
do
do
do
WltLl.i
(j
10
£2
7h.
»
U.STB.ltli
£iss,
NfeW YOUK.
Awn
J
1884.
MonOu.
ises.
iP.Ct.
P.Ct.
1884.
I
Boston
«
I.
1,888 2, 179,913.445
14J»8,798,7B4 20,08»,i«7,8«7
-t-9-0
25S,915,n73 +22-41 1.92a.IM.60«
81(l.S55,Bir
ProvMenv
81 William Street,
1,050.
of July were of pretty large volume (the aggregate being by
over $103,000,000 the heaviest yet this year), recordine an
8"5 per cent for all the cities, and with New York
puUiahed in excess of
excluded an increase of 7 '3 per cent.
Terms of Subscription— Payable In Adrance
JOUM"o FLOYU
NO.
1885.
8,
i".iiis.:tnn
-•,200>ijT
i:),.-
-aS^
-0-0
-e-4
-s-s
l.fl82.B«S,!fl6'
izji.raT.'oo
Iin.i-.DT.UIO
•
-
'
-»8
Post Ofkicu Box 958.
+0-S
-9-6
-
bprtnutleid
CLEARING HOUSE RETURNS.
H.^l'^.Ull
.
\.ni.a\i
ill
Lowell
After the considerable improvement in the exchanges which
Tot. N. Enj{.
has been noted for several weeks, a temporary lull in opera- PhllMelPhla..'
Pittsburg
tions is but natural.
It is no surprise, therefore, that the Baltimore
record for the week ending August 1 should exhibit a decline.
Tot.Middle..'
Furthermore, as the corresponding week last year was a par- Rhicaeo
ticularly active one on the New York Stock Exchange, the Clnoinnntl
Milwaukee
comparison with 1884 is also unfavorable.
Still, the deDetroit
crease at New York, compared with 1884, is only 1-0 per cent, Indianapolis...
Clevt'I.-xnd
while, after deducting double the value of the share transac- Columbus
tions on the Stock Exchange (|I23,976,000 and $1.51,904.000 Peoria
i.030,S50l
respectively in the two years), there is
exchanges of other origin of 23'6 per cent.
an increase
in the
Wuk iSndtng July 29.
2,189,9«0,3U4
2.224,«17,447| -I'l
I,.S01.730,840'
1.57«.S'*7.1
—3-a
— i-9
Salt!
of—
(Stocks... .<?iar».)
(,0(ition
MJm.)
1,849,653.410
2,258.280,159 -IS't
189,373.444
179,337.5881 +8-61 1,257.879,900
37.9(:i.H.'iO
2-4i
li54.221„150
101,007,745
U,.'H7,361 —3-2'
74,71«.07H
11.0.l-i.lflil: +9-1
—
5.0S7.»i:(
B.3l».-i21
2,968,0861
«5.60fl,120,
3,a'>5,lS0.
102,a47.:i22,
44.241,697 -21-2
57.106.1157
61,N3i,8»tl
e.l90,«99 -12-4
8.085,782 -2-2
88.e35,»2l
»-2
40,812.77»
2S,8e4.183|-14-8
22,03)1,5781
-h3-7
-6-2
-7-8
_7-7
+2f!-n
SO.^l-B.IBI'
e-i,252.4efi
23-9
is.wi.ono
-4-3
lO-O
n.ti','i,.'>K«
3,221,960
Tot. South...
127,572,019
48,310,150,
14-4
;
980,509,313 1,027,286.547 -7-6
+-80
11H.077.S20
46,463.314. +-40'
S31,980,a37
314.123,085
+2-4
3,475..W2,320 3.204,339,873: +-83 21,428,028,168 27,.S21.8<7,715
all
+7-3
i.0-i4.446.4-28!
7.16.1.229.414! 7.7S 7.I40.018
-8-0
Amen VontAs.
July.
PortlaDi]
DacrtgUon
Worcester
SprtDRlloM
Lowell
Par Value
Actual
or QiMntityi
Valut.
Valiio
Total N. Englaod
RR. bonds...
Gov't lionO.*.
Suite b.inds.
Philadelphia.
Ptttiburc.
Par Vahu
}7:w,-.i<H),
I
(
Ill;)'
i
59-3
SlI.llllH.Oia
*;.->. sT.'i.
Aetuttt
Valtu.
or QuoHtUy]
Price.
J.aan.
Stock -Sh"r'9
Total Middle
C^laaso
Clncinnnti
lAtter'gt
Price.
43.00S.6S5 o B05 42S 818 67-2
!).STm47,2-H)i'''™*''*'*^l
64-7
«i-.»l,463.i.')0' ?l.'*4,I04,a'5l
'
i
I
f n,-,'7:!,r,6o
I.OM.IKI
118-2
479
*.'71.ll.«i'
112-1
llnukst.ic.k....
Baltimore
.
.'!»
I'otrTm.bbU
;';i,l.'.i'^»).ll»Ml,
Cotton. biilos
Grain. ..bush
l..'»»}y.:ino:
*7;. T:;j. '.,.'- .-4.1 3i
116,271,500! .rliil,.-j^,l.la).«7i-6o.l 1,040,0611,7281 «8e3,t<88,708
Total Tulue
16.828.689357
.^-:l7Vi.7 l[
:<
.1
'
.
I
,.
!.
i
,
.
86e.
The returns of exchanges for the fi.ve days, as received this
(Friday) evening by telegraph, show that at all points outside
of New York there has been some gain over the figures for the
preceding period. In comparison with 1884 the loss in the
Milwaukee.
Detroit
lodianapolia
Cleycland
New York
aggregate is 19 per cent, but. with
excess of 7'9 per cent is exhibited.
Coiambas
Peoria
Total Wcttem..
Iliw
Day Endtno Aug.
7.
excluded an
SS^Xnd'fJulyai.
Bt. Louis..
1886.
St. Joseph..
Orleans.
New York
Snlet of Stock (ilu.)
Kansas City.
Boston
UemphlB.
Philadelphia..
.
Baltimore
ChlcaKO
St. Louis
Total Southern..
8aD Francisco
New
all
taOO.a.Y7.70g T2l2.ll.S.()&i|
While the weekly
_1B
figures are valuable as indicating the
course of current busine.ss, the returns for a longer jjcriod furnish a better baii.i for comparison. By reference to the subjoined table it will bo seen that the exchanges for the month
Orleans...
Total
Balance, Country*
Total
all
OnUlde New York
1884.
|P«r Cent.
86,70!, 801
-6-3
(—a»8(
(1,882,6101
44,508,448! +'^50
3»,eS2,89«
87,899.2431
t3ie.424.2l7|
TjOutsTllle.
Outside NewTnrk!
—
472.0T 8,571
435,197,899
a.ra!-),42l
—7-6
1,841.089.460, 1,963,882.810
88,720,667 -l-n-9
New UuTeo
Total
—21
76.341,338'
34.N3:i.6;ll
Oar compilation, covering operations on the various New
York exchanges, is continue 1 below, the figures now covering
July and seven m inths of the current year.
Boston
ProTldence.«
Hartford
New
-«-2
-6-4
—1-0
1,340,600.406,
271,542.2001
+14-2
265,838.761
275,170,8381
-8-0
874.647,.'»4l
H.StB.SWii +.S-9
4.4.')I5.447
.'>,4-.i4,3».');
Outside N. v.. 1.099,007,423
(Prtrolfum.JiMi.)
30«.«8J.«ei -33-7
293,080.0391
San Francisco.
Total
5i.4bo.a-i8
141-17^5
2ua.403.767
841,518.803
-4-4
!)-2,UI().292!
440
2^7,518.931
Memphis
New York
14.771,016—18-8
203.600.109' -1-2,
i-2.n(li,53«
New
I'.'.Hii.wa'
S01,480,S94 +ilCO
37.021, 25<l
la.H'W.rw;)
Tot. West..
-9-5
20<5.aS8.0I6'
8i .48a,l):l5'
4fl.S-.ei.
St. Ivonis
St. Joseph ....
Orieua.s..
Loiltsvilio
Kiinsil^ City...
2i,iai,.'5ia,
2a.Sao.l07,
3<IO,440,127|
;
—
—52
-15
(978,100;
»ll,S,fl23,602
1886.
Pn-Omt
1447,013,918
+5-8
(1,656,4871
(-16-0)
46.628,108
+8-8
-1*0
-18-1
88,«80,16&
7,786.604
99.768.000
8,688,8801
9,001.100
-4-«
88,020,000
83,559,000
19,905,808
+ 18-8
M,S80,899
—*•!
10.489,048
Hr9
8,574,694
3,481,968
+9-7
9,888,783
-8-2
»660.3«7,279
42,799,297
1660,080,684
44,SS2,08«
-1-7
-4-0
1578,000,898
+6-5
4U41,091
+-1-7
t593,166.576
»gOi.«7l.g90
I820.831.C48
W00.742.32u
tl86.OI8.028
8173.917.7301
46^
+48
Bstimated on the basis of the
last
weekir retams.
»«
—
THE CHRONICLK
144
The improvement
in the
demand
for
money noted
the
Bankers' balances
last half of July i» no longer apparent.
than last week,
week
this
freely
less
little
have loaned a
fraction under
a
been
has
average
the
and
cent,
at 1^ per
very rarely 1
and
cent,
per
2
Occasionally
figure.
that
per cent, has been recorded. It now appears as if activity
money was
likely to
The
be deferred.
ruling of the
Comptroller of the Currency, permitting the silver coin
taken by the banks for the gold advanced to the Treasury
cash in
to be counted as part of the reserves, causes the
banks to be
unavailable
unaffected
funds.
for accommodation
terday's
At
by
the
temporarily
this receipt of
same
the
time,
appeared to be falling
off,
bank return reported a recovery again.
[Vol. XLI.
ing from the speculation in breadstuffs and cotton. This
feature cannot, however, long continue, as the free move-
THE FINANCIAL SITUATION.
in
,
.
demand
ment of the new-crop cotton will begin in about a month
which must increase materially the supply of sterling.
The cable also reports a better inquiry in London for some
may make
of our railroad securities, and this
itself felt in
the exchange market later on.
In business circles the past week has been especially
Summer quietness has prevailed in all deuneventful.
partments of trade, the public being indisposed to run any
In the meanrisk by discounting favorable expectations.
time the crops, notwithstanding severe local storms, are
progress. The prospect of to-day is, that we
making good
have the largest yield of corn and cotton ever harand in fact with the exception of wheat all our
Thus on staple productions are in a most promising condition. Yet
until yes-
shall
vested,
May loans stood at $293,140,200, buyers who come into our markets take no more goods
of
and each week thereafter with one exception there was a than will supply immediate demands, the disappointments
gain, till July 25 the amount stood at $308,113,200. This of the past and the uncertainty respecting Congressional
covers the period of greatest activity at the Stock Ex" action on financial questions, making the hand-to-mouth
the
29th
change, and
when
it
seemed by the return of
last
loans were reduced to $306,309,900, as
if
Saturday,
with the
quieter movement on "Wall Street the demand for accommoBut yesterday's bank statement,
dation had slackened.
showing an increase of $6,543,300
that conclusion.
transfer of
We hear also as
two millions
in
in the item,
the
week
gold from
the only wise one.
policy
Perhaps,
also,
the diversion
caused through the prolonged preparations for the obsequies
somewhat to depress trade the
two weeks; for taking clearings asaguage, there seems
disproved to be some decrease during that period. It should be said
closes of the
New York
to
of General Grant has tended
last
however, that this loss
in clearings is
only to a very small
extent in mercantile transactions, being the result chiefly of
Canadian loan a natural reaction in the speculation which has been in
we are to be progress at the New York Stock Exchange, a kind of spasm
that
account, it of activity having been experienced there during and immegold
on
of
Canada's
supply
the source of
at
present it diately following the negotiations between New York
market;
but
our
effect
on
some
may have
freely
and the Centra], the West Shore and Pennsylvania railroads, and
begin
to
move
crops
the
until
that
seems
a part of the proceeds of the
Canada,
negotiated sometin:e since
in
London.
If
signs of business revival have increased, any considerable
which has now
improvement in the inquiry for money is hardly probable.
In London, on the other hand, the cable reports more
active money, the rate of discount in the open market for
60 day to 3 months' bank bills being 1^ per cent, against
about f of 1 per cent last week. This change is in part
due to the withdrawals of bullion from the Bank of
England for South America and for the interior, the loss
this week being over £820,000, and in part also and
perhaps to even a greater extent to the Egyptian loaii'
which has caused a temporary withdrawal of a large
amount of money put up on the subscriptions made, which
subscriptions amounted in London alone to £105,000,000,
and including Berlin and Paris to about £200,000,000,
although the loan was for only £9,000,000.
Of course,
as soon as the awards are made, the deposits will be
returned to the unsuccessful subscribers, and this cause of
disturbance to the money market will be removed.
But
at the same time, it should be remembered that as a
result of the loan some gold will be required for Egypt,
and as the drain of bullion for the Argentine Eepublic
has already been considerable, and the latest information
indicates that more will go out on that account, a return
to the extreme low rates ruling in London does not seem
to be likely.
whole, the clearings
measure subsided. Taken as a
seem to afford good ground for
This is more obvious from the monthly aggregates
hope.
which are a much safer guide than the weekly figures, to a
This week we have made up these recorrect judgment.
turns to the first of August, and the following is a sum-
mary
in great
still
of the statement for this year
1
PrCt
1884.
?
January
February
.
.
March
April
last year.
Clearings OutsUle
Clearlnga Total AH.
1885.
and
$
3,312,947,658 4,B21,182.7M -88-3
2.773,4«3,M2 4,023,700,820 -311
2,»88,0S4,4r)S 3,968,318.018 -24-7
2,ttUl ,038,088 4,000,945.262 -28-5
-339
Ntw
Ti^rk.
Pri
1884.
1885.
I
»
$
1,187,570,062
873,317,315
1.241,808,007
975,3-26,489
1,093.100,880
-92
1.050,022.888— 17-S
-10-S
1,038,050,345
1.158,015,0841-10*
1,201,1114.431
-W»
Mar
2,098,505,478
June
2,975,985.264
4.533,400,654
3,400,900,425 -12-8
l,000,0(i8,193
1,053,620.5831
1,010,192,320
-f4»
July
3,475,392,320
3,204.359,873
4-8-5
1,099,067,425
1,024,440,428
-f7-3
Total 7 mo8. 21,420,02S,168'27,821.877,716
-230
7,103,229,414
7,(87,940,048
-8-0
This
is
certainly
an encouraging exhibit, as
it
shows
a pretty constant growth during the year against a loss in
1884, though the increase has not been uniform from
month to month.
Good progress is reported to have been made during the
week toward perfecting the arrangements entered into between
New York
Central,
West Shore and
Pennsylvania.
We look upon this as the most satisfactory event
We do not mean, of course, that
of the year thus far.
Railroads.
it.
a fact of considerable importance as bearing creates any new business or changes in any degree theupon our foreign exchange market, as the better rates for commercial outlook, but that it removes a chief obstacle'
money ruling in London than in New York will have an to the harmonious action of the trunk lines, that it stops
This
is
important inQuence in inducing bankers to seek to place
their balances abroad instead of using them here.
In
view of this fact it is not surprising that exchange should
a frightful waste of capital which was in progress, and
relieves greatly the prevailing distrust which was under-
mining confidence in all railway property. We are glad
have been firm this week at an advance of half a cent to know, therefore, that nearly two-thirds of the West
per pound sterling.
This condition has ruled notwith- Shore bonds have already been deposited, that they are
standing the supply of bills has been a little more liberal, being brought in as rapidly as could have been anticipated,
there being some on the market drawn against the Cana- that the South Pennsylvania matter is sure to be arranged^
dian loan before referred to. Still, there remains a scarcity and in a word that the plan as heretofore marked out will
of commercial bills caused by the check to exports result ' be fully executed. Some discussion has arisen as to the prob-
AUGUST
8,
THE CHRONICLE.
1889.]
able market value after issue of the
now West Shore guar- whelm it.
As stopping
anteed bonds, opinions ranging from 80 to over par.
it is a
very long bond, those
guarantee of the Central
fail to
believe that
it
will
will
who
think with us that the
put
above doubt, cannot
it
be in request aa a favorite invest-
The good
this
at
the
result of
That
July Treasury operations.
is
to say,
INM.
«
10.2IM.W1
Jitnuurr
Jan. p'centigrefl
Fobrtliir)'
Feb.
)>*ooa(
aMOs
Muob
the net gold in the Treasury has increased since July Ht Mar. p*centa«es
April
about G million dollars and is now 26 million dollars over ApU p'cenUffes.
and above the 100 million legal tender reserve. All this Mar
on
its
face
is
very satisfactory. It
Hay
is
easy, too, to accept it
as proof of the independent strength of the Treasury,
until one analyzes the month's operations.
But taking a
is changed
closer view of the figures this latter impression
to
some
extent, for
it is
found that the gold increase has
by exchanging with the banks
tua pursued of
PavnunU matte
rectlvd.
I
notwithstanding the very large disbursements for interest,
it
business and not paying
have been made each month this year.
MONTIILr RKCKIITR Or UirnTOMH ODTIKa AT MliW Ti»K.
thoy show a decided gain of
concerned, as a
certificate
New York
bursements, public debt and cash holdings have In^cn
strength, so far as net gold holdings are
effect of the policy
them out, is well seen in the following statement of the
kinds of money in which the payments of customs receipts
ment for trust funds; and, if so, must command a high inire.
The Government monthly statements of revenur, ilis^
published this week, and
silver
146
p'oentnctes
Jone
Jnne p'centafrGit
Ootd.
%
ite.000
ino-0
l-B
10,4SA,OOS
100-0
0-8
njns,9fii
1000
«,977.iy71
lUO'O
g.S19.4T4
100-0
«,n37,»ji
1000
V. a.
Sota
In*
Sltttr
eerUlUaU:
s
*
8,2S8,000
81-0
4J 70,000
8,«ai,ooo
8.9n,000
818
as'4
77,000
0-7
8,881,000
01,000
01>
eo.ooo
0-8
l,»46,00O
10-5
8,818,000
1,788,000
18-8
4,087,000
m.ooo
*
>,7»),000
40-8
84,000
0-7
artlHtntm.
Ota
4,488.000
850
808
388
4S-0
3,078.000
88-0
s.tiu.ooo
83-3
84 5
4.180,000
41-8
8.fiW.0OO
87-4
84-0
Julr
11,717,880
8488,000
S.7WjOOO
08,000
8,408,000
100-0
0-8
4»-«
Jply p'fontaice^
S9-8
S8-8
• Tliw-e pay iiiutiU ilo not tncliiite amniintti paid
stirer dollarn, whicS
reach ouly a few thousiiud duUurs fur ttio wliole year.
m
This shows us that silver certificates in July represented
than 24 per cent of these payments, whereas in
January
they were over 40^ per cent, and in April 41^
(2) by
These few figures indicate better than anything
retaining in the Treasury the month's surplus revenue. per cent.
In other words, if the Government had received no aid else could the greatly improved condition of the Treasury
from the banks, and if it had used its surplus revenue in under its new management.
The stock market has been comparatively quiet during
redeeming bonds instead of leaving it idle in the Treasury
and thus adding that amount to its already large accumu- the week, but in general with a strong undertone. There
lations (a process which would be very disturbing to have been but few new facts or rumors affecting prices,
commerce if business were active, and evidently has a though the statement is revived that negotiations are in
limit), the Treasury exhibits would have shown a net loss progress for a settlement of the differences between the
of 2^ million dollars instead of a gain of 6 millions. Western Union and the Baltimore & Ohio Telegraph
Thus we see that these figures not only afford no justifi- Companies. It is said that nothing final will be done until
the return of Mr. GaiTett in September.
cation for the opinion formed from a hasty examination,
It is impossible
but actually disprove the assertion of those bank officers and to say what these rumors mean, and yet it is equally
others who have been claiming that the Government could impossible to see how Western Union could afford to pay
have kept up its gold reserve without outside assistance. the Baltimore & Ohio what it would have to ask for its
for even then the Postal and the Mackay &
Further illustration of the same truth, if one desires lines
features in the Bennett cables would be in opposition just the same.
it, is found in a retrospect of these special
Treasury operations for the last three months. Without Early in the week Union Pacific was sharply depressed
encumbering our columns with the details, it is sufficient on the appearance of the traffic returns for June showing
to say that since May 1 the Treasury holdings of legal ton. a decrease in net earnings, but there was a subsequent
ders have decreased 4^ million dollars (which is the same recovery on the explanation that the increased expenses
as the loss of the same amount of gold), the surplus reve- for that month were the result of outlays for construction
nue has been about 20 millions and the net gold holdings and repairs. Central New Jersey has again been in demand,
(after deducting the 6 millions received from the banks) some say for purposes of control.
Lackawanna yielded
have increased only about 2 million dollars. If, therefore, to the pressure of free sales based upon the unsatisfactory
the surplus revenue had been used instead of accumulated condition of the coal trade, the operators failing to
and the legal tenders had been kept the same as they were agree upon a restriction of the output for this month. The
May I, and no aid had come from the banks, the net gold stocks of the granger roads have felt the influence of the
held by the Government would have been reduced almost improvement in the prospects for traffic this fall, and the
five millions below the 100 million legal tender reserve. It shares of Southern roads have advanced for the same
is scarcely necessary to add anything more on that point. reason.
One feature this week has been the rise in the
All this, however, only indicates the real situation the low-priced properties, such as Denver & Rio Grande, the
effort to introduce a silver currency has brought the coun- Nickel plate stocks, Colorado Coal & Iron and the WaPrevious administrations have protested against bashes, indicating purchases by outsiders merely for
try to.
the policy without exception, and finally the catastrophe speculation, and probably in the hope that witb the imbecoming inevitable, was deferred through the temporary provement in the more substantial stocks the debris of
expedient of furthering the issue of silver certificates by put- the market will also be favorably influenced. The shares
ting a premium on them, and so vitalizing the stock of silver of roads in the Northern Pacific system, and particularly
dollars.
It was fully known to the Treasury Department Oregon & Trans-Continental, were active and higher in the
as well as to every thinking man when this expedient was early part of the week, the latter being affected by reports
adopted that if continued it would prove merely a boom- of preparations for funding the debt.
erang sure to plague their successors; and yet they cannot
Union Paeijlc figures for June, referred to above, require
be blamed for a make-shift which the action of Congress to be analyzed in order to be fully understood. The offiseemed to render necessary. Nor can the present Admin- cial statement reports grossof $1,955,396 this year, against
istration be blamed for difficulties it thus fell heir to; it $1,739,453 in June, 1 884, an increase of $215,943: and
been secured
(1)
of subsidiary silver for
6
millions
of
gold,
6 millions
less
and
;
rather deserves great credit for the
in meeting and for the time being
when
it
entered upon
its
duties
has displayed
net of $400,480, against $518,878, a decrease of $118,398.
averting a crisis which
Thus the loss would appear to be owing entirely to increased
expenses. Tut the comparison is not correct, and we regret
skill it
seemed so certain to over-
.
.
.
THE CHRONICLK
146
actual
the
to say that
indicated and
is
loss
here
heavier than
much
is
and
earnings
the result both of smaller
When
Mr.
entered upon the
Adams
[Vol. XLI.
In addition to that movement the banks
have lost $1,000,000 through the operations of the SubfolTreasury. Adding that item to the above, we have the
from the
interior.
the New
found lowing, which should indicate the total loss to
President of the road in June, 1884, he
currency for
and
gold
banks
of
House
Clearing
York
chargeable against income,
that "certain accounts, properly
covered by the bank statement issued yesterday.
long standing," were the week
of
them
of
"the greater part
and
company,
Net Change in
being carried on the books of the
Into BattTa. Out oj Banks.
Weelc ending Attgust 7, 1885.
Bank Holdings,
the
they were charged against
direction
larger expenses.
duties of
by
his
income
of
the
first
of
half
the
covering
year,
the
Banks* InterlorMovement, as above
Sul>-Treasury operations
tl.OOl.OOS
»2,60fl.000
6.000,000
7,000,000
Loss. » 1.5 18,000
Loss. 1.000,000
Total gold and legal tenaers.
J7.091.000
J9,009.000
Loss. ?2.5I8,000
of
still in control
time when the old administration was
these
representing
amount
Accordingly an
the property.
gross and net earn,
accounte was deducted both from the
was made
explanation
proper
The
ings of that half year.
The Bank of England reports a decrease of £820,718
This represents £152,000 sent
bullion during the week.
abroad and £668,718 to the interior. The Bank of France
and the matter passed out of mind. But now gained 2,023,000 francs gold and 502,000 francs silver.
the monthly figures in comparison
it is found that in using
The Bank of Germany gained 1,031,000 marks during the
has not
with those of this year, the amount charged ofl
week. The following indicates the amount of bullion in the
last
been evenly distributed through the six months of
principal European banks this week and last year.
out of the June
year, but the whole sum of $444,386 taken
A«<7«s(7, 1884.
August 6, 1885.
Obviously as the charges were '-of long standing'
totals.
even
Silver.
Sold.
mif>er.
Gold.
they cannot fairly be counted against June solely or
is, that on
them
counting
of
so
effect
the
£
And
A
chiefly.
*
at the time,
with
gross and net earnings alike the company compares
actual
totals for last year nearly $450,000 below their
Adding on the $444,386
amount.
we
correct,
find
$2,183,839, while
to
make
now they
the comparison
Tntfll this
earnings in
that gross
June, 1884, were
23,669,509
25,344,095
46,392,066 43,349,417 41,994,145 40,759,670
7,475,075 22,425,225 7,609,250 22,827,750
Bonk ot England
Bank ot France
Bank ol Germany
...... 79,711,236 65,774,642 73,i72,904 63,537,420
week
week .... dO,433, 176165,716,039 73,776,393 63,595.382
Total previous
are only .$1,955,396, or $228,-
The Assay Office paid $109,577 through the Sub-Treasury
June expenses last year were $1,220,575
during the week for domestic bullion, and the Assistant
and this year were $1,554,916, or $334,341 more; and
Treasurer received the following from the Custom House.
that the net of $963,264 for 1884 compares with only —
OonsisUng of—
$400,480 in June, 1885. So the actual loss in net is
Duliet.
Oott.
Silver OerGold
U.S.
$562,784, instead of $118,398 by the company's stateQoM.
443
less;
that the
With
ment.
Notes.
comparison
this alteration, the following is a
for six years.
"
Oniok pacific.
Juns.
Gross eamlDKB
Operat'g expenses
Net earalng s
Jan. 1 to June
Gross earnings
1881.
1882.
1884.
1885.
t
Net earnings
1.955.896
2,183,689
2.273.598
t
2,488,812
2,811,646
2,547.202
1.P54.916
1.220,575
1,188,672
1,110,216
1,453,528
833,902
400,480
963,864
1,104,926
1,348,698
1,358,118
1,713,800
now
is
3
4.
"
5
6
•'
11,224,530 10,993,817 12,989,723 13,306.981 18,5.39,580 11,457,254
7,949,844 7,831,093 6,843,870 7,485.140 7,292,719 5,677,904
3.274.6S8
8,359.724
8,126,053
5,961,844
only $400,480,
5,779,350
5.243.841
Thus the June net has steadily declined
and
1880.
"
iS2.851.192 11
Total.
tifleatei.
Oerliflc't-
$161,000
132,000
213,000
388,000
192,000
116,000
$47,000
32,000
218,000
219,000
264,000
210.00P
$97,000
52,000
187,000
150.000
79,000
102,000
$13,000 $1,202000
$990,000
$647,000
$1,000
2,000
4,000
3,000
1,000
2,000
74
52
77
33
52
23
SO.
Operat'g expenses.
year.
$303,784
218,286
602,632
761,205
531,752
428,530
July 31.
Aug. 1
since
against $1,713,300
1880
that
in
In the years prior to 1884 the monthly proportion
NORTHERN
PACIFIC'S
LATE FISCAL YEAR.
Northern Pacific securities have
and active, and it is argued that
been strong
because of an
latterly
this
is
—that
improvement in the outlook for the property
the
was not included in expenses, so that company has passed the period of diminishing earnings,
this operates to the disadvantage of the present and and that henceforward better returns may be expected.
last year, but, as nearly as we can determine, the difference It was even stated that July might be expected to inauguon that account for the month is no moie than $70,000. rate the new departure, but the return for that month
The feature of most note in this record for six years is the which has just been received shows that the company is
extraordinary rise in expenses, which now amount to still running behind its gross earnings for last year, though
of the year's taxes
In reviewing the May
showing a somewhat smaller ratio of expenses, we
remarked that it seemed scarcely credible that things had
arrived at such a pass that the road would permanently
require 70 per cent of earnings to carry on operations,
and the explanation is now vouchsafed that heavy
renewals and other track work are being prosecuted this
year in May, June, July and August, which were formerly
done in the autumn months.
The following statement, made up from returns collected by us, exhibits the receipts and shipments of
gold and currency by the New York banks during the week.
nearly 80 per cent of the earnings.
the loss
figures,
than
WtOt ending Augxat
7,
188B.
Received bv
N. T. Bank:
Cnrrenor.
tl.091.000
eoM
Total sold and legal tenders.
Shipped hy
Banks.
Net Interior
Movement.
(009.000
Gain.. (482.000
Loss.. 2,000,000
X T.
•2.000,009
(1,091,000
(2,609.000
Loss. .(1,518,000
•To Canada.
The above shows the
actual changes in the
ings of gold and currency caused
by
this
bank
movement
hold-
to
and
now
(only $22,706 for the month)
is
hardly more
months
nominal, whereas in the earlier
it
was
very heavy indeed.
It
year
is
certain,
too,
that the accounts for the late fiscal
prove more favorable than
will
anticipated
—not
more favorable than was predicted at the beginning of the
year, but better at any rate than seemed possible towards
the close of the year, when month after month rolled up
a big loss
as
compared with
appeared very discouraging.
first
and
fiscal
the
outlook
year ended the
The accounts for the twelve months have
been written up, the annual report not being
late in September.
But in view of the great
of July.
not yet
due
1884,
The
till
interest attaching
this juncture
to
the road's affairs
—we have thought
it
—particularly
desirable to forestall,
at
if
For the
first half of the year we have, of course, the company's
own statement. For the remaining six months we have
authentic figures of the earnings, accounts, and general
possible, the official exhibit of the year's results.
1
August
THE CHRONIC
8, 1888.]
transaclions for each
month
By
separately.
may
be some
slight
when
differences
the
flgure.i
are
but there can bo no doubt that in all
important particulars tho statement thus prepared will be
conipiltnl,
officially
Turning now
aggregating
thoao and adding the result to tho total for the first, iwilf
of tho year wo get tho totals for tho year complete. 'I'horo
147
LE.
to Ibe
income account, we
find that in
much
as $130,616,
June, though gross earnings declined as
net actually increased $28,992, owing to a heavy reduction of expenses,
somewhat
helps
and
this better
showing for that month
make the result
the company than
advantageous to
more
for the year
to
previoualy seemed
found correct, and the annual report anticipated by nearly possible. Taking the twelve months together, groM earnings have diminished $1,360,425, whicii was offset to the
two mouths of its official declaration.
Beginning with tho company's financial condition, it can extent of $968,724 by a reduction in expenses, leaving
bo said that the Northern Pacific is now in comparatively the loss in net $400,701. This loss in net, coming at a
Current liabilities cannot be large or time when interest and rental payments were being greatly
easy circumstances.
pressing.
The company has had the proceeds of the three augmented, was particularly unfortunate, and accounts for
millions second mortgage bonds issued during the year at
its disposal,
and, besides, has reduced
from $'2,122,492 on June
its
supplies on hand
on June
30, 1884, to $1,413,057
the fact that instead of a surplus of over a million dollarc
as in 1883-84, there
is
in
1884-85 no surplus at
loss in earnings, as expected,
was
The
all.
chiefly in the passenger
$709,435 of net earnings at its com. department, which reports a decrease of $1,161,377 but
There has been consider- freight also fell oil $4 19, 101 and $24,503 more loss followed
$3,421,915 during the twelve on express and miscellany. The redeeming feature was a
able new construction done
30, 1885, putting
mand
;
to uso for other purposes.
,
—
—
months but for this we may cousid-ir the new first mortgage bonds issued to have been available. The gross
total of these first mortgage bonds was increased to
$43,403,000 on July 1, 1885. from $40,278,000 on
July 1, 1884, or $3,125,000, but the increase was
offset to the extent of $365,000 by bonds purchased
for the sinking fund, making the net increase only
A year ago the floating debt amounted to
$2,760,000,
only $2,405,984 net, and with the sale of second mortgage
bonds and the intrenchmont on the stock of
easy to see that the current
is
liabilities
A
troublesome at the present time,
ing circumstance
interest account
is
it
— indeed,
June
in
we have prepared
the year,
Iforlhfrn Pacific Railroad.
General
Oenernl
l»t
2<1
Mo. Dlr. &
DlTtdcnd
mort. bonds..
mort. bonds...
V. rt' O. bonds.,
certiflcatos
..
Interest on
the following table.
30, 1885.
Jun<! 30, 1884.
same
Preferred stock outstanding.
Supplies on hand
Inc'tt or Dfc'u.
Inc. »2,7BO,O00
5,478,500
4,640,821
»7a,009,9Sl
18.807,000
..
I
$10,278,000
15,867,000
5,500,400
4,640,821
^3.038.000
Total intprest-bcaring debt.
Annual
June
To
Inc.
8,0(10.000
Deo.
20,900
t60,i7n,221
Inc.|5,7!l!l,I00
4,380,559
3,978,573
343.986
tS8,610,584
139,807,063
|l,413,r57
?2, 1 22,492
Inc.
Dec.?l.l9fl.48-t
Dec.
$7011.435
It will thus be seen that the total interest-bearing
funded debt has increased $.5,733,100 during the twelve
months, the annual interest on which increase
At
sight this
first
would seem
to
extent to the interest charge in
is
the increase
has already appeared
We
show
the
to
stock.
$343, 'JS6.
only partially the case, since a portion of
year, but that
accounts.
is
mean an addition to that
the new or current fiscal
two
a state-
is
years,
and
the
Besides
result
for the full year,
we
also give the
exhibit for each half year separately.
Korthem
mot. end. Dec. 31. 6 mos. end. June 80.
Pacific
1884.
less.
1885.
*
s
t
6.627,719 6.617.990
Gross caminKs
( >l>e: at'g ex penses
8,868,150 3.696,714
Net earnlDBs..
further corroborat-
was
Annexed
in the
an itemized account of the charges against the same.
Charges
bonded debt during
the changes in the company's
ment showing gross and net earnings
cannot be very
there was a credit (instead of a debit) to this account.
show
it
the fact that the charge for "general"
no longer what
is
supplies,
gain in mail earnings of $235,556.
3,350,569
2.921,278
1884.
7bf.il
Fbcal Year.
1884^5.
1888-1.
2.685,651
«
t
t
B.9S5.686 11,234.150 18.603.675
3,225.811 6,853.801 6,922,686
1,920,780
2,759.774
4.606,431
B.280JMB
5,661,060
agaiitit
enrntnga.
Rentals—
& No.
Pac.
250,127
Manitoba road..
Mlnneap. Union
No.Pao.Tcrm'al
Branch road.-*...
Taxes
Interest on debt..
10,355
10,529
St. P.
General Interest..
Sinking funds...
.
Total
85,377
87,615
158,825
8,025.324
63.C39
22.6«?
465,830 1
81,084
30,718 [412.401
69,073
352,154 i
242,501
255,888
4,128,949 3.636.036
818,234
•21J809
50,876
3.931
2.660.283
8,668,633
.\388,9ie
4.524.883
699.286
df747.«5S
def 48.967
1,188,167
Siirnlns
*
809,208
10,660
25,189
33,696
264,639
88.676
8,096,686
•84.748
87.784
Credit.
The deficit in meeting charges is therefore only $48,567.
Compared with the surplus of i$l, 156,167 in the previous
such a showing of course is unsatisfactory, but
compared with the deficiency that seemed in prospect
only two months ago it is quite encouraging. This deficit
it should be remembered, is on the basis of earnings
derived from traffic alone.
The miscellaneous income has
not been very large heretofore, but even if it should
amount to no more than was realized from that source in
1883-4 ($78,870) it would be sufficient to wipe out the
year,
in the late year's above deficit, and leave a small surplus.
The result of
have included in tho table a line the year's operations thus is that the company just about
change in the
company's preferred comes out even. Its earnings have diminished, and its
This stock
sales of lands, in
is
being gradually reduced through
the purchase
and
of certain of which
months we
it is
charges increased, but the board has
One item
both ends meet.
in the
managed
to
make
above statement shows
two
was carrying a tremendous floating
we have one of the elements of strength that the stock debt and its affairs were in a critical condition. As
has displayed. It would appear, too, that most of the a result, the payment on account of general interest
available at par,
the reduction was as
sales are
made
in the last twelve
much
as $1,196,484.
in this way, for
see that
In that
while during the
fact,
twelve
strikingly the
years.
in
that
difference in the road's position in the
In 1883-4
year
it
reached as
much
as
$318,284.
In the
months 345,875 acres were disposed of, for $1,G8;<,078, late year such had been tho relief granted by the issue
and the amount of sales including town lots reached of second mortgage bonds that the debit of $318,284 on
$1,704,483, the receipts in cash were but $482,887, and in general interest account was changed into a credit of $21,stock $1,196,484,
It may be well to mention here that 209
a difference of $339,493. That explains, too, in part
besides the actual redemptions already made, there is also the very heavy increase in the charge for interest on the
$1,192,200 of deferred payments on account of land sales funded debt— from $3,535,033 in 1883-4 to $4,123,949 in
»_plicable to the retirement of preferred stock, and $1,245,- 1884-85.
To over half its amount the increase represents
298 more applicable to the cancellation of Missouri Division merely a change of floating into fixed indebtedness. The
and Pond d'Oreille Division bonds, and $798,385 applic- increase in the payments for rentals has also been heavy,
—
able to the retirement of the general
first
mortgage bonds-
the total reaching $933,299, against (412,401 the year
—
THE CHKONICLE.
148
before, chiefly
the liabilities assumed on
of
by reason
account of the St. Paul & Northern Pacific and the Oregon
With all this, however,
Trans-Continental branch [lines.
have seen, have fallen
we
earnings,
as
net
company's
the
but
short of meeting the
little
But
will not the
augmented burdens.
charge be
heavier in the present
still
Undoubtedly it will. The interest per year on
the funded debt outstanding the 1st of July, 1885, is
$4,320,559. The amount actually paid in the late year
was $4,123,949. Here is an addition of $196,610. As
to the requirement for rentals, it is difficult to say what
year
the
?
call for
the St.
Paul
&
Northern Pacific
is
;
lines) there wcruld
rental
the
in
seem no doubt of a decided increase
over
paid
that
in
Miles
Tear.
mies
Increase,
end of
end of vr
1860
1661
1862
1863
1834
30,686
1865
1868
1867
1888
1869..
1870
1871
1872
j
1
3 1,286
1,846
651
3a,i2o
33,170
33,908
834
1,050
738
35.086
36.801
39.250
42,229
46,844
1,177
1,718
2,449
2.979
4,615
32,911
60,293
66,171
Increase,
I
yr\
70,288' 4,097
72.385 2.117
187.9..
1874..
-25,541
74,096i
1875
1876
—
5,119
1
1877..
1878..
1879.
76.808
79,088
SI. 717
S6,463
1,711
2.712
2,280
2,629
4,746
14,07f^
'
12,936
6,070
r,S79
5,878
93.319
1880
1881
103
14.5
6,886
9,796
114.713 11,568
1882
1883
1884
121
454
125,379
6,741
3,925
-38,916
will be, as
operated for a certain percentage of earnings,
and the rental therefore varies as the earnings do but in
the case of the branch roads (Oregon Trans-Continental
that road
EVoi, sxi.
the
late
fyear.
The changes and fluctuations from year to year are here
and they mark the coincident development of our general industries. During the progress of
the civil war very little of course was done in extending
the railroad system, and from 1860 to 1865, therefore, only
5,119 miles were added to the country's " iron highways."
clearly indicated,
In the report for 1883-84 President Harris said that
conclusion of that strife the building of new
the maximum interest for which the Northern Pacific With the
all
will remember, became the distinctive feature
roads,
as
would become liable, with the completion of the last
All our energies apparently were bent to
of
the
times.
full
and when the
of the branches, was $603,540
and it seemed as if we could not go
that
object,
secure
the
payable,
amount of the sinking fund charges became
Consequently,
in the five years from 1865
enough.
fast
late
In
the
would
liability
be
$704,130.
total annual
miles
added, and in the five
were
1870
there
12,936
to
Pacific
on
paid
Northern
actually
by
the
rental
the
year
;
—
paid in monthly instalments,
that account was $352,154
the later of which were very much heavier than the earlier
years to 1875,
25,541
miles more, or 38,477 miles in the
decade following the war.
Then came the re-action, and with it the realization that
$352,000 in that item. As the charge per month has now we had built in excess of our needs that the country's
for three months been $50,871, or at the rate of $610,452 industries could not fully use the mileage that had been
From
So, thereafter, we went more slowly.
per year, it would seem ^afe to assume a charge of at least provided.
came
down
miles
a
year,
we
to
adding
over
7,000
would
months,
which
for
the
current
twelve
that amount
in
the
five
years
to
1880
the
miles,
and
less
than
2,000
Adding
to
1884-5
over
of
increase
$258,000.
an
give
Hence there
ones.
is
room ultimately
an increase of
for
—
$196,610 increase in interest called for on the
we get a total increase in charges on these
increase in mileage reached only 14,078 miles, against the
somewhat over $450,000. In that amount
consequently net earnings must increase in the year just
begun, to make them sufficient to take care of the charges.
Northern Pacific, however, is not held alone on its present
about the excessive mileage proved, however, to be only
this
the
funded
debt,
two items
of
25,541 miles in the previous five years.
The
difficulty
it would
The country quickly grew
temporary, though most were inclined to believe
continue for a long time.
up to the new mileage, and supplied business for it
all; and when people began to realize that fact, and
look.
They place their expectations on the immense land investors found that the capital they had regarded as irregrant that the company possesses and on the grand possi- trievably lost was yielding a return, the revulsion of feelbilities of the country through which the road runs. ing against new railroad enterprises disappeared, and with
Besides, they also think that the promise is good for some the resumption of specie payments, and the stimulus this
immediate gain in earnings by reason of the large crop gave to all branches of trade, capital was once more
yield along the company's lines.
turned into the same old channels, and in greater volume
It is to the future that
prospects.
its
promoters chiefly
than ever before.
THE OBOWTH OF OUR RAILROAD SYSTEM.
Now
38,916 miles in the
The
five
result
is
seen in the addition of
years ended with 1884,
or but
than was built in the whole of the previous
of new mileage in 1884 are furnished, the figures of ten years, including the period of exceptionally heavy
the country's progress in this direction are again exciting construction in 1870, 1871 and 1872.
much attention. It appears that during 1884 the conIt is therefore not at all surprising that we should again
that authoritative
struction of
new mileage had
than 4,000 miles
all
told
increase " during the year
been 3,925
statistics as to
miles,
so
the construction
far declined that
were built
—the
net
less
" annual
—be forced down perhaps we should say
to a policy of moderation,
and that 1884 should show an
increase of less than 4,000 miles, as already said, against an
and the actual new construction 3,977
average of over 8,700 miles per year in the four years
In the later speculative era we were more
preceding.
In 1883 the net increase was 6,741 miles, in 1882
11,568 miles, in 1881 9,796 miles, and in 1880 6,886
thus
have got down
according to Mr. Poor having
miles.
And
little less
will be seen
how important has been
reckless than in the former era.
Parallel
and competing
were built without number, and with little regard to
the falling oS in this branch of industry in recent years. consequences.
But that is an ordinary, every-day topic
As compared with 1882, the year of heaviest increase, the now, and we need not dilate upon it. The eSect upon the
addition of new mileage now is only about one-third 'what lines more immediately concerned we are also familiar
it was then.
To show the yearly increase since 1860, in with, and new illustrations appear almost every week.
which period the mileage of the country has risen from
There is one feature of the siti^.ation, however, that does
miles.
it
28,789 miles to 125,379 miles,
figures
we reproduce
from Mr. Poor's introductory
the following
lines
not always appear to us in
its full significance.
We refer
volume for to the extent of change involved (in its bearing upon aU
1885, just issued.
Besides giving the increase for each industries) in the transition from the high and abnorm^
year we also give it in five-yearly periods, which enables level of new construction of 1880 to 1883, to the present
one to form a better idea of the varying character of tl e comparatively low level. On that point Mr. Poor makes some
growth in the different eras.
Referring 'to the fact that in the
striking comparisons.
to
his
August
THE CHRONICLE.
8, 1886.1
149
ended with 1883 the addition of new mileage thereby. The secret for the opposition that Central hM
If it had not been
reached about 40,000 miles, he asserts that the average excited is its prosperity, not its water.
To be
for
nothing.
water
would
count
prosperous
the
$.'10,000
por
cash cost of this new mileage was at least
answer
waterj
may
method
evading
the
law,
$1,'.'00,as
a
of
sure,
certainly
expenditure
of
mile, involving an actual
000,000 in these five years, or an average annuiil ax- a certain definite purpose, but that is about the only
five years
penditure of $240,000,000.
In 1882, the year of largest
purpose
it
can serve.
New York
If
Central's capital
had
which on that been one- third less than it is, and its dividends 2 per cent
basis involved an expenditure of nearly 350 million dol- a year more, we'do not see how that would in any way
lars.
In 1884, however, we built only 4,000 miles, whoso have decreased the probability of a rival line being built.
cost, Mr. Poor says, could not have exceeded #20,000 por The truth is, the promoters of the West Shore saw that
mile, and perhaps not over $15,000 per mile, involv- the Central was making large profits, and determined to
They did not undertake to
ing only a gross expenditure of between 60 and 75 secure a share of the same.
simply
business,
to divide that of an
up
a
now
but
build
in
millions
spent
with
the
350
millions.
this
Comparing
If the Central had been paying dividends
1882, one can readily see what important consequences have existing line.
followed the contraction in this one single branch of industry. on only GO millions stock, the West Shore would have
To further enforce the significance of the^chango we been built all the same. We cannot understand why Mr.
we constructed over 11,500
addition,
hfcve been passing through, Mr.
tics
show
Poor
miles,
finds
that whereas in 1883 the tonnage
it
decreased
but admitting the characterization as correct, the Central,
water or no water, has simply met the same experience
way, and allowing $25
call the
in a different
that successful undertakings in
as an average value per ton of
and business have experienced
10 million tons.
a meritorious enterprise,
Poor should
(actual
tons handled, not tons one mile) increased 40 million tons,
in 1884
West Shore
that his statis
moved
Put
the merchandise moved, there was an increase in the value
mine, &c.
Where can
other branches of trade
all
— the
mill, the factory,
the
a profitable line of business be
1883 of 1,000 million dollars, found that does not have to cope with new competitors ?
Mr. Poor holds the prevailing belief that the railroad,
while in 1884, on the other hand, there was a decrease of
250 million dollars. All the great interests of the country, interests of the country arc now at about their lowest con.-,
of the tonnage handled in
were conducted on the expectation that the dition, and he looks most hopefully upon the settlement of
shown in 1883 would be repeated the West Shore Central-Pennsylvania difficulty. lie says
in 1884, and in a failure to realize that expectation, and that " a composition between the Central and West Shore
experiencing instead a loss of 250 milhons, he finds a " will soon be followed by compositions similar in kind
potent cause for the distrust, disaster, and disappointment " between other great lines and their rivals that are now
" competent only for mischief "
an assertion which no
that have characterized business allairs.
Referring to the circumstance that a good part of the one wiU venture to contradict.
Mr. Poor
says,
1,000 millions increase
—
forty thousand miles of road constructed during the last
GRANT OBSEQUIES— AN JERA OF GOOD
five years was built for speculative ends, the West Shore TIIJS
and Nickel Plate are adduced as the most conspicuous
examples of that class of ventures, and then Mr. Poor
truthfully remarks that "the general demoralization which
''has prevailed in railroad circles is due more to the con'•struction of these two, and to the ill fortune which
'•'attended them, than to any other cause, or it may be said
'to all other causes." But Mr. Poor goes one step further,
and seeks to find a reason for the introduction of these
roads, and here we cannot follow him.
lie says that
although they "seemed to be the occasion of the great
'catastrophe of 1883 and 1884, the real causes had been
long at work in the wonderful success of signal
instances of 'watering,' of which the Pacific lines, the New
•York Central and Lake Shore are striking examples."
This conclusion is rather strained. "We. even doubt
whether many persons can be found who will see any connection between the two events.
Mr. Poor loses sight of
the fact that " water " cannot make a road either prosper-
No
ous or the reverse.
matter
how much
of
it is
General Grant had his defects as well as his
good and great qualities. But as a soldier we owe him
much; and his name will have a permanent and honored
It is not
place on the list of the heroes of the battle-field.
to be denied that to him more than to any other, Lincoln
hardly excepted, we owe the saving of the Union. Thera
is no evidence that General Grant loved war for its own
sake.
There is every evidence that he loved the Union;
and we are not permitted to doubt that his guiding and
sustaining motive throughout the entire struggle was to
Resolute and relentless in the
preserve the Union intact.
prosecution of his task, he was magnanimous in the hour
injected of victory.
His triumph was the triumph of the North,
cannot add a dollar to earnings or
income, or in any way enhance the value of the shares. If
into
I
a property,
it
iake Shore instead of 50 millions stock
FEELING.
There is something exceedingly agreeable in the
unanimity of kindly feeling which the death of General
Grant has called forth. We have no patience with
extravagant eulogy; and it has to be admitted that in
some instances the bounds of propriety have been
had had 1 00 millions,
tnd the Central instead of 90 millions had had a capital of
exceeded.
without regard to
politics; his
the fallen foe put Southern
tude,
magnanimous treatment of
men under a heavy debt of grati-
which with the increasing years they have increas-
ingly appreciated; and to-day
men
of all shades of opinion
The
to his memory.
no smaller their expenses would have been homage of the' entire nation follows the dead hero to his
the same, and in no important particular would there have last resting place; and it will be the pride, as it will be the
l)een any difference. The idea that there is any connection duty of the Republic, to guard and honor his tomb.
letween a large or small capital and the rates of fare and
The manifestation of good feeling, it is agreeable to
Treight that a railroad will charge, such a favorite tliemo notice, is not limited to America alone.
In bis death, as
ivith anti-monopoly orators formerly, has long since been formerly in his life, all nations nave united to do the hero
exploded.
honor and sympathy with the liepublic in view of her
We are no advocates, as is well known, of stock watering, bereavement has found open expression in all civil:zed
•md in many cases consider the practice wholly indefensible communities. Naturally enough this sentiment has been
180 millions, their earnings would have been
—no
larger,
jvist
—
the
same vie with each other in doing honor
'
;
I
:
lUt that
should not blind us to the fact that in most,
ustances, the fortunes of a property are in
if
not all
no way ailected
more
freely
and more
than anywhere
else.
fully expressed in the British Isles
In spite of our occasional dilferences
—
;
THE CHRONICLE.
150
there
is
:
at bottom, as there
ought to
be, a
warm
feeling of
affection between the people of Great Britain and the
No other two nations have so many
people of America.
Sprung
links of connection.
endearing
and
powerful
I
Vol. XLI.
Commerce asking for a Government insame time reports come to hand of a new
France and also in Germany, the latter encour-
London Chamber
of
quiry, while at the
movement
in
aged by Bismarck, for re-instating silver. Surely all that is
needed is for the United States to simply suspend coinage, and
from the same stock, speaking the same language, inspired Europe, left thus to struggle with the conditions its own folly
and intellectually nourished by the same literature, enjoy- has produced, will speedily work a way out for us all.
Mr. Smith needs no introduction to our readers, for he will
ing substantially the same laws, inheriting the same
be recollected as the senior member of the firm of Smith,
proud
same
the
traditions, and sharing for many centuries
Edwards & Co., under whose name he so long issued the exhistory, there is every reason why Great Britain and cellent circular on cotton, which he only discontinued when
United States should dwell together in amity. he entered Parliament. Besides, he has written much on this
the
There is every reason why the heart of the one silver issue, some of which we have published, for he always
should beat in sympathetic unison with that of the writes forcibly and clearly.
and why when trouble befalls the one, sorrow
should be mutual. We have had grave reason many
times in the past to be angry with our British
When General Grant was spending his days
cousins.
and his nights on the battlefield, and when this nation
was passing through an agony such as no other nation
has passed through in modern times, British sympathy
Times, however, have changed
was strangely wanting.
other,
and for some years past better feelings have prevailed.
In many ways the British people have endeavored
honestly and earnestly endeavored— to make amends for
any wrong that was done. It was something to make
room for a bust of Longfellow in Westminster Abbey.
It was something greater when, on Tuesday last, special
services were held in the great national temple, and when
the representatives of
all
that
is
in English society
best
Such an honor was
It was a compliment
as graceful as it was well meant to the American people.
There was much in Canon Farrar's address which was
worthy of commendation. It was characteristic; and it
was suitable. One can hardly help feeling that to seme of
those present the whole affair must have seemed like a
dream. Could it be that they were in Westminster Abbey,
and that from a dignitary of the English Church they were
listening to a discourse eulogistic of the American Democracy, and extolling the dignity of labor ?
Could it be
that in such a place, and to such an audience, such a
preacher was talking of " the vanities of feudalism," and
claiming honor for men as men, and " not according to
" the accident of birth" ? Never before perhaps were such
words spoken in Westminster Abbey " Every true man
"derives a patent of nobleness direct from God."
Verily
the times have changed, and men have changed with
them. The closing words of the address were exceedingly
^^VVJi *Dd we heartily subscribe to the sentiments which
they embody. "Whatever there be between the two nations
" to forget and forgive, is forgotten and forgiven.
If the
" two peoples, which are one, be true to their duty, who can
met
do honor to our dead hero.
never before done to any foreigner.
to
:
" doubt that the destinies of the world are in their hands ?
" Let America and England march in the van of freedom
" and progress, showing the world not only a magnificent
" spectacle of human happiness, but a still more magnificent
" spectacle of
''
two peoples united, loving righteousness and
hating iniquity, inflexibly faithful to the principles of
" eternal justice,
which are the unchanging law of God."
GOLD AND SILVER AND THE DEPRESSION
OF TRADE.
The following letter appeared in the Manchester Guardian
of July 20, but we reproduce it on account of the new interest
wliich seems to be awakened in Europe on this question,
now
that the United States is believed to be on the point of discontinuing the coinage of silver dollars. Our contemplated
act
has given a fresh impulse to this discussion both in England
and on the Continent, for if carried out it will so aggravate
the position there as to force some action soon. Honoe it is
that we find the Manchester Chamber of Commerce and the
Sir— T have given uotico
Commons, wliicli will, I am
of the foUowinfj motion in tlie Honso. of
suie, receive tlic supxiortof the mauiifac-
commercial iuterests of Ijancasliire
Gold and Silver.— That a Select Committee he appointed
torins: anil
to hiquire
and silver in their uee.s as
world; whether the present depression of trade
and low prices are in any way connected witli or catised by the appreciation of our gold standard; how far su li appreciation, should it be
shown to exist, results from the displacement of silver nionej' over
large areas; and whether, or how far, this evil admits of a re;.nedy.
It may not be possilde to make progress with this eomiiiittee dm ing the
present' session, but the notice will keep the matter before the public,
and it ii (piitc possible that the Government, in appointing a Eoyal Comlumission to inquire into the depression of tragic, may specially direct it to
t ake up tliistiuestion. in which case my motion will ii.ive served its pur iiose.
My present object is to ask permission to bring before your readers
the sroimds upon which I thiuk such an in(piiry Is de-iir.ible. I shall
take as my starting point the remarkable Parliamentary p.iper issued
recently by the Board of Trade upon the fall in prices, drawn up by Mr.
Giffeu, coupled with an interesting article by the same gentleman in the
June uuinber of the Vonteiupnrai'n liev^ew. Mr. Gitfen there very
clearly shows tliat the leading feature in the present depression of trad©
By various tables he proves that for
is the remarkable fall in prices.
several years past there has been a downward tendency corresponding
with the upwaid tendency which prevailed for some twenty years after
Free Trade was adojited iiy this country and the gold mines of California and Australia were discovered. This fact is still more forcibly
brought out in the Parliamentary paper to which I have lefcrr d. It
proves that the money value of our exports has decliuedtoso extraordinary an extent in the ten years between 1873 and 1883 that, in spite
of a vast increase in the <iuantlty exported, the total value was only
£240,000,000 sterling in 18S3, ag.iinft £2:10,000,000 in 1873. It then
shows by a further calculation that if the same t»rices bad ruled in 1893
as in 1873 tlie value would have been 349 millions in place of 240 millions. Had the tables been continued down to the present year the discrepancy would be still more lemarkable. A f nrtlier tall in prices has
occorred, the total value of exports tills year <188o) will probably not
exceed 220 millious, while the (luautity will proliably be as 1 irge as in
1883 so that the comparison will stand at 220 millions against 349 millions had pi ices remained at the level of 1873. In other words, the average price of our products has declined 37 per cent in the last twelve years.
From these data Mr. (iifleu argues, as I think lightly, that the fall Is
closely connected with and partly caused by the marked deciea«o in the
production of gold which bus taken iilaco of late years, say from 30
millions to less than 19 millions per annum, and he draws the conclusion, in which iiiost of us will agree, that gold is beconiug appreciated,
and that the fall in prices is but another way of saying that the purchasing power of gold has increased. There are some who deny this.
upon the ground that "money was never so cheap as now," to use the
parlance of the mai'ket. It Is true that " the rate of interest" was never
is
lower, and in that sense the very inaccurate plirase " cheap money
quite tnie. IJut all monetary authorities know well that the two things
purchasing
are quite distinct. The rate for the use of capital and the
powi-r of gold are wholly ditl'ireut things. The former vari' s with the
state of credit, the acii\ ity of trade. Ac., and would do so whether the
purchasing power o;" gold was great or small. I suspect the fluctuations of interest were much the same In tlic fifteenth century, when a
cow sold for 30s. and wheat for 128. per quarter, as they are now, and
if we again return to as low prices in the twcntieih century the fluctuations in interest— i. e., the hire of capital— will be much the same as lu
the nincteentli (ciitury. Indeed, a fall in prices, lias a tendeiu-y to keep
down the rate of interest, as It causesmuch distress and a want of confldencc among the commercial classes; hence unused capital accumulates,
and the curious phenoinetion is witnessed of the value of money— i. e., its
purchasing power, increasing while the rate of interest declines.
People may difler as to tlic extent of this movement, but I think it fair to
conclude that the average buying power of gold is now at lea^t 20 per
cent more than it was twenty years ago, and somewhat higher than it was
even from 1840 to 1850. Jlr. Gitl'en does not hold thai this increase of
value is of any material imoortance to the industry of tho'eountry. and
he contemplates without misgiving the eenlinnance of the process for
many years to come. Indeed, so far as I can judge from his paper, he
would not think it di8advantag"ous it prices ("cU another 20 or even 50
per cent through the further appreciation of the medium of exchange.
It Is here that I entirely differ from him and froju all his school of
thought. The writers of this school treat the nation as if it were an
individual, and unless you can show that the national wealth as a whole
They hold,
is curtailed, they will not .admit that any hanulsdone.
justly enough, that if the nominal valuatioji of the wealth of a country
it is
which
by
standard
the
increased
value
of
the
by
reduced
is
measured, there is no ehauge in reality. If, for instance, tlio capital
lions
ml
8.000
reckoned
as
wealth
of
Great
Britain
the
was
of
value
sterling, while the & stcrliug was of a certain value, and afterwards
reckoned as only 6,000 millions because the * had increased in purchasing power by one third, they would old and rightly so, that the
reulj wealth was unchangel. They therefore regard with eciuaninuty
all changes in the purchasing power of gold, and reject al S'hemes
like those of the blmetallists, wh'So object is to give greater
venture to think
I
standard
of
value.
to
the
stability
The conimnnity
that a fatal error underlies this reasoning.
is
not an entity but an aggiegation of classes havinir Interargument it may
of
this
the
purpose
widely
opposed.
For
often
ests
be divided roughly into the two classes of debtors and creditors. One
of rejii oducpurposes
money
for
tlie
lonimuuity
borrows
of
the
portion
tive Industry or for otlier objects, while the otiier portion hnds it. In
ihiis transcapital
of
this
llie
amount
country
like
commercial
an old
ferred is enormous. Indectl a great part of the wealth of the nation,
The
employed.
is
so
floating
capital,
greater
of
Its
the
part
probably
b.ink deposits of this country are supposed to be some 500 millions stermoney
sums
of
lent
to
tra<h'rs.
Vast
are
mostly
these
deposits
Uug, and
are lent on morigages. life insurance policies, etc. I have seen it stateo
that the land of Great Brltiin is mo.tgugcd to the amouot of 400
The prod Igions bonded <lebt of railways, caiiius,
millions sterling.
corporations and industrial com)>anies of all kinds is well known. To
this ought to be added the National Debt, which is just a huge mortgage
on the property and iudiistry of this codntiy. eutiiiling an annual
charge, including sinking fund, of 28 millions a year. I have never seen
an estimate of the annual interest of this gigantic amount of loaned
into ttie present relative poeitiou of gold
money throughout the
:
'
I
capital,
but It Is probably nearer ISOmilltous annually thivu 100 mlUions
'
AUUVST
8,
THE CHKONICLE
1880.]
161
Now
thlm« n viry Ui'nvy clinitjo upon ttio In'liHtry or n I'oiiftiv. Tlil"
it
\
lliterf ct iinirti Im mot horm-n wii^oh ran ho pitiil or protlt'* ill\ mU'-I
'<
umii
In II 111" I'll! ii,in:i'.nnil llir Ot'Nt'irs Imvo no riwlit I" i-v.i.|i tin
l>y
'Alth tlio rmroiicy. Ity ilio tMj*un. f"
vcr
tlio olhir luinil, tlio croilltit
niiiKi
I'tirdoii.sonn*, at* f^r tuMtiMioc I»y r<'
nioiio.v .i:h1 .-<ti inci-t-iiHln'^ tlio ptirt-li'irtin< vtiliio of ko1«1.
Wliiit I'M rv lionixt niun Hlioiild iilni tit l-> nUliilily lu tliv iituuiliu'il nt
-11 l: at .1 l.t,.i-i -l.iill 111.
Vlllu.
Ui^,-d I,} i.;i\ in..n- llliill tlii-v sllim-
tof
I
:
I
iipeiirtl
'
On
.
Int.-
I
l.;Hl.
1
IM
1
Inst
I
it iiiti'ioU'il t«i
i!u
liigtiiui'o, Willi
tiorrowiil
let
im hov. U!
\s
lieu
i
,
:
i
1
:
,
.
siiiridanl
IS If
.sll
I
expi'
at oil
yer
ttie I.
elvlii
"Of
rapt
obsei
I
at four pii
"'K
mil- rents, now nriil. owih^' o 1lnii'd, or even In nonio OMHi-r* onr-liiilf
niiliii.i
III
11
.
fov
to
1>
tliolr inoii.
lirui-ltMl.
I'
|!
iiaii
Ill
I'aiJiunieDt,
\,.
the
the
1
Jirl!
p»y,
:.:/|.
of
'
,
iM)
.and
.,
'
i
'
J
J.
iim
ion
sep-
araling this fiuiii tlio other caiLses thai
There Is one other conslilcratlou ol
lit to which t would
brirfiy allude— Ihe Injurious elTect of
lolf eTchaiii/c oo OUT
trade with the silver-using eonnit
the
oxeliange was so steady thar, jm
on
Is tlio \ htiLil ciwiHi'.
Niarly nil tlio tirotltH go to pay IiIm ilaini^<, aiil In as smoothly with India, China arm
:.licBl
many ciini-.s he Iimb foroolo-sed and ftold np tlio nuhappy borrowor, rniio d money. Goods when miM lor silver rupees or dolluis were luivurllhle
Into srcrling as well as If sold for gold coin.
UiroiiKli no fanlt of Ills own, hut Nololy tliroiiKli tlio oxtraonliiiaiy
Great transfers of capital
8hi-ii)Kii(tr <>r iiiifos
and I assort that the nioiify \ aliioof tlio "plant " Is took place between g "Idusing and sllvcr-nsing eounlrlcs wilhoiit Ineottpro'
cent Imit thaiiitwita ten or twenty yoara aj-'o, takliiK It vculence, nor was any apprehension felt by the lender that Interest
"piii
'lie and loom hy loom.
appial to tlio praoikaloxpoii- payable in silver money was insecure. When the rupee debt of India
I
01"'
was borrowed In this country Ihe Uritlsh Investor did not contemplate
ii','iiKod in the jrreal coltoii uianiifactiirlnK Industry. Whip
propi riv aii'l many other kinds are depioolatod still more, and us a mat- that he would bo mulcted 20 per cent of his interest through a fall In
ter of fait I hi'l;eve that if all tiio tlxed eapltjil cnKagCKl in trade In Kuj;- silver. No one can tell how much the tr.ide of this country benefitted
lond could he valnid to day at its rial siUins price it would be foniid by the practical assimilation of the gold to the sllvei currencies of the
world up to 872.
tliat it would do little more than pay the niortKages and debts upon It.
So far from IlilshcluK a matter of iU'liUercncc to the eonntry, as Mr.
During the long period that elapsed from the beginning of the last
century
up to 1872 gold and sliver scarcely ever varied In ratio more
Olffen thinlis. I liohl that it isaRreat calamity and a cincl hardship.
Tho prodiictivo classes of the eonmiiinllv. who aro far the most viilti
than from lf> of silver to i ne of gold to !.'%>< to '4 of silver to one of
gold:
now
bic, are lieiiis; rohhed for the beiielit of 'the lendlnK eailtalist class a
It Is 19 of silver to one of gold,
'ihe bl-metalllc system
reigned substantinlly throughout the world, and It waa not affected by
class who live upon the Interest of their loans. I believe no griatir
misfortune could befall an ludustrious nation than to defraud the pio- the most astonishing variations In the respective yield of the metals
duetivc cia.ss of Its due share of reward In order to overpay tlio unpro- from the mines. Tlieie were periods within this century dm ing which
the yield of gold was only three millions sterling yearly, ai.d others In
ductive cla.«8
Mr. uill'en and those who think with him will reply that no one Is which It was over thirty millions, while Ihe jiroduetlon of silver ranged
rcsponsihle for this RrowliiK uppredati. ii of Kold, as It arises from nat- from six millions sterling to sixteen millions, but the ratio between the
ural causes, namely, the decreased iirodiietlvcne.ss of the uiliiea, and the metals was not affected.
debUir class who snlTer by it must bear it as best tbey can. I should
According to the late Ernest Seyd, one ef onr ablest statists, the
agree with this view. If it were true that natural causes alone had to do weight of the two metals annually produced was as 50 of silver to one
with it. fuit 1 hold that artitlclol causes— that is the ads of human tiov- of gold at the beginning of this century while from 1850 to 1660 It was
cmmeuts-have much to do witli it. Mr. GifTon states that one of the 4isof silver to one of gold; yet the latio between the metals remained
chief causes of the appreciation of gold was the absorption by (jermany unaltered, because the bimetallic system of France was in full oiieraof about 80 millions of sterling to till up the void caused by the demoiio- tlon. It is impossible to estimate how much the trade of 1 his country
tlzatlon of silver. Mr. Gi Hen is aware that prior to that time gold and was beneflttcil by this stability. It would hardly have been {wsslble to
silver circulated all over the world at virtually a fixed ratio, say of 1,'^'s have developed India as wo have done had exchange been as uncertain as of late years; indeed it Is certain that unless something he done
to 1, paused by the e.xistenco of that ratio at tlio French Mint, which
coined all the gold and silver offered to It at that rale. To ail Intents to restore Its stability capital will in future not flow to India with anyand purposFS silver was as fully the money of the world as gold. Some thing like the eonfldeuco of heretofore. Our trade with the sllver-usine
countries nieai-urcd values by the one metal, some by the other, and countricsof Ihe world is suflering scA'crely from the dislocation that
seme. like France, by a standard composed of both metals, that is the has taken place between the precious metals. No small part of the
bimetallic system. The metallic medium of the world was supposed to present depression Is owing to this, as Mr. Gosehcn pointed out In his
recent address at Manchester, and I hope that the testimony of so
!>« "Ijout 1..^0J millions sterling, of which half was gold and half silver.
The buying power of the one was affected bv the buying power of theot her great an authority to the importance of the sliver question will cause
just as truly as the value of the wheat of England is determined by that attention to be directed anew to the arguments of the himetallsts.
The main contention of those who hold this view Is that the "double
of the whei.t of Russia or California.
money" provides a more stable standard than the sinci". Nature has
It Is vain to reply tliat Knglaud used gold alone as full-valued money
since the rcsiinu d specie pnyiLeuts in 1821, and tliei-efore cannot be so provided that alternate discoveries are usually made of gold and
effected by the action of Fiance, Germany, and other countries
Wo silver mines— the one metal is complementary to the other. Mankind
might just as well hold that when the wheat crops failed on the Conti- has always used them both as money, and why should it row be atnent It eould not affect prices hcte. No one who knows anything of tempted for the first time In human history to discard one of them f
monetary science will deny that the demonetization of silver In Ger- The reply we generally receive from our opponents is that no national
many and elsewhere, and Its replaccnieiit by gold, has done much to convention can fix a permanent rate of cxeuango between two metals
raise the purchasing power of gold avd reduce tnat of silver. The one which are constantly varying in the rate and cost of producllim. They
metal ha.! risi'U say 20 per cent and the otliei fallen 20 per cent, mainly hold that Ihe recent dislocation In value is mainly the result of increased
as a result of this cause. In every country where the gold ttandar'd supplies of silver and decreased supplies of gold. They refuse to look
reigns the debtor cla*s has been fined say 20 per ceut, whereas in coun- at the undoubted fact that we had practically a fixed ratio of ISig to 1
tries »;herc there Is a silver standard it has been relieved to that extent for the first seventy years of this century, when the most extreme
or its just debts. If the process goes on, and tV.ere is every reason to variations lu the supply of the precious meta's took place that ever
Delieve that It will unless the leading nations revive the bimeiallic sys- was known. Silver was jiroduced to tnroe times the value of gold In
tem, wo may expect ouo countrj- after another which no'.v uses silver to the early part of this century, while after the gold mines of Australia
discard it. thereby increasing the pressure upon gold and lowering the and California were discovered gold was produced to three times the
general scale of prices. • . - - The value of the rupee would then value of silver; yet the exchangeable value of the two lueials remained
probably declme to Is. or less, and we should be Cfutiiieiled to give India the same. Had the argument of our opponents been light, gold should
a gold enrrcney lu order to escape these ruinous niietuatioiis of have fallen at least one-half in relation to silver. Why, then, did it
exchange. India is believed to have in circulation 200 millions steiling not fall i Simply bf-cause Iho biuietalllo system of Fraiica was In fuU
of silver. I leave your readers to Imagine what sort of monetary cata- operation, and all the gold and silver that came from the mines could
Olysni would arise from filling np that abyss with gold.
be coined thereat a fixed ratio, and that naturally fixed the ratio for
HO doubt .Mr. Giiren's iirophecies of a further continuous tall of prices the whole world. Had the bimetallic s.istem then been abandoned,
would he more than lealized. We might see next century wheat selling we should have seen gold decline In relation to silver Just as silver
at 15s. or 2i 8. per quarter, as it did three centuries ago, and ihe wages
has recently declined In relation to gold. We should have heard the
oflaljor reduced to half what they now are.
But what will be Ihe cost cry that gold should be demonetized as the more variable m»lal and
Of this tiansill.in 1 We should have rendered bankrupt a great part
of silver made the sole standard as the more trustworthy, whl< h IndeeA
the Industi tal cominunity. The creditor class would have virtually got M. Chevalier at one tiiue pr.iposed. The fact Is, the use of the terms
40j. in the pound, national debts would have doubl.d in weight, tarlffr. supply and demand, cost of producthm, itc. are quite deceptive as
would everywhere be raised to meet the shrinkage of prices, and the applied to money. The demand for money Is largely the result of
""""^ ^""lil '>e relegated to the linibo of buried hopes. human law. 80 long as the mint coins gold without liuilt there Is an
??^'''V «;
f"^"
It 18 difflcnlt to picture the misery that would bo caused by this
shifliug UDlimited demand for it; so long as It coins silver there is an nnllmited
ortbebuiden from the unproducti\c to the productive portion of the demand for It. 8 > long as both metals are coined without limit, and
comnijiuity. It would eerialiily give an astonishing stIiuuUia to the lliey are made a legal tender at a fixed ratio, there Is an unlimited
Srowth of 80< lallsni. Large sections of the community would be plunged demand for them both at that ratio. Nothing can be more clearly
Ilo loverly thiou«h no fault of their own, and it is more than likely
demonstrable than that if the leading nations of the world were to do
that grave social disorders would arise. I can conceive of a man saving what France did for 70 years- declare both gold and silver legal-tender
that the appiei lat cm of gold laused by the disuse of silver Is a misfor- at a fixed ratio, that ratio would obtain throughout the wond, and
tune tjiat cannot he helped. We must bear It as we would faiuirie or neither metal would ever ho cheaper or dearer than the other, no matpcaillence hut I cannot conceive of a thoughtful man saying thai it is ter how great were the fluctuations in the relathe supply. The prewholly iiuiiiator .ii, anl that evin if It can bo remedied by legislation it cious metals derive their value from their use as money, and money Is
Is not worth irj iig to provide against It.
in the main the creation of law. It all the leading nations were to
A very apt illustration of the danger arising from the heavy fall of demonetize gold, its value would fall immensely, and that of silver
rices is seen in the condition of Ireland. A vast agrarian experiment would rise correspondingly if it was adopted as the sole standaril. The
S as
taken place there. We have enabled a large proportion of the opposite to this is now hap|)ening, because silver U being demonetized
lieasaniry toolit.'jin-falrients," axed by judidal auihority for liftcen and gold is gradually taking its place. The bimetallists hold that the
years. We hoped that this generous legislation would lay the foundajust and iiliilosophlcal plau is to use both metals as full -valued money
tion of a happier social system for thefiituro. and bring
back content at a fixed ratio, as the world did from time immeniorlal until the crusada
ment and piospeilty to regions where they hud been long unknown.
agalnstslver commenced thirteen years ago. But this most d sirablo
How It appears that a grave danger threatens to mar the success of this consummation c.-in be no longer attained by isolated a<'tioii. No country
experiuioiit; the fall lu prices in the last two years has
been so loavy will daro to undertako the task single-handed as Franco once did.
that already loud complaints are he..rd that the judicial rents
It must be a leai^ue or convention like the Latin I-cague. upon a larger
arc too
high and cannot be pai.l. There Is too much Krou'nd
fear that if the scale. It ought t'l he widely known that It is only the opiio-ition of this
downward tendency of prices continues we chall be confronted
country
wlilch stands In Ihe way of such a league. We, who of all
with a
fresh Irish agitation and a demand for a fnriher reduction
nations sufl'or most from this monetary dislocation, are the peoiile who
of leiits.
conceive in what a position our Govornnient would then bo iilaced
stuiddly opposn an arrangoiiieiit that would render such a ilislooatlon
Rents have been fixed for fifteen years by a court of law, to the judg- Impossible. The Aiuerlcan delegates came to the last Ciniferenee In
ment of w iiclib.ith lai.dlord and tenant have submitted themselves. Paris chargeil with a scheme of International blnietallisni. France and
The court has in most cases reduced rents already by 20 per cent, and Germany were ready to accept It, but our refusal caused the aliandOQtne blate has given its solemn sanction to this
solution of a long and nienc of a scheme fraught with advantage to the whole human race.
•^"'''"-"•^ycan u possibly allow Ito decision to be re- Every year that passes makes it more dillieult to reopen the question.
mJ^!"i";;'r.i
and Itnowseemsdoubtful whet her anything except Intense suit'erlng will
?iJPl, ti
i"""""^'"."«""'
''"f f""i»l«'lon of justice » It Is clear change the obstinate prejudice of our capitalist class In fiivor of
'"" » 'emble national
convulsion could render such a step
a single
l',.f
.,™iii^
possible,
ihe country would ho bound to enforce these contracts in gold standard. The banking interest in the metropolis apparently
whHtfVer cost, otherwise it would have to face alternalives profits hy Ihe O'laring system, which constantly adds 10 the purch tsing
,'„
lv„V,
even worsM to cuntemolaie.
IKiwerof its capital, but otherinteri'-- '
rand far more esstintlal
?""'"'''. "'." aPPreelation of gold steadily continue, an
It remains to be seen
y.
Mr. Gilf ii to the well-bel'igof 8<»icty are sull.
.^.^i'l'
whether
they
will
eoutiuue
sulli
"" !"•'';«« ™DIlMUou8ly fall the p.«itlon of the Ii ish peasant ry
to
.i.dto permit a monetary
w™?io h'
revolution to take place, which will niiisiniuite wealth on a wider scale
""*. °"*"' '^"'' •"'K'it J"»>ly complain that the basis
nam »hi,Vi'i',''*i "" "'" »'-'<"l'''l l'«'l passed aw,.y and thar they were and In a more unjust manner than any political revolution In modern
ffiert
Jo pay
nJi'li
0_pnged to
the same amount of money although its intrinsic value times.
Yours, Ac,
WeetmlDBter, July 17, 1889.
SAncn, Smmh.
tbifct it roiii-oni'iittMl ^;r
'
fall of piifi'H, ihjitir
of llielr roiitH
Tlirin
liir niliii'-ownor, tlio Hhlp-owiH-i', who
tliou);Iit it s.no twc iit> \ liiM nii" to lion-ow linlf tlio vahi" of lim plum In
ordor to tInO actlvo lapiiul for Ills iMixlnosii. now llnilo that tlio uo>n^ii«ro
;
i
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I-
1
i
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;
M
1
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J
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THE CHRONICLE.
162
RECAPITULATION.
UNITED STATES TREASURY STATEMENT.
Treasurer,
following statement, from the office of the
returns
actual
the
upon
based
is
It
week.
tliis
was issued
of
from Assistant Treasurers, depositaries and superintendents
The
mints and assay
offices:
^^^___
LiabiUties.
[ToL. XLI.
Principal.
Interest-bearing
debt—
i
|
bullion In treasury
180,083,998
69,283,597
Certificates issued
140,611,820
Oold.—Coin
Lesson
In treasury
.
350,000,000
737,728,900
194,190,500
8s
233,200
Befanding certificates. 48..
14,000.000
Pension
fund,
38
Navy
81.623,512-1,260.776,112
Padflc RR. bonds, 6 p. ct.
4,014,483
Debt on which int. has ceased.
189,213.089
Less on hand
40.S40,980
In treasury
6,001,103- 807,281.3:i0
.
13.482,633
4&4,'183,449
23n.904.'>43
ElATES
UXOBAIfQi: AT LONDON-Jtily
4,0:4,485
j
1.4-j5,334,l50
On-
1,3871
Time.
Sate.
SXaBANOE ON LONDOS.
Latest
Date.
Time.
Sate.
85,320
Amstordam. 3 mo8. 12 258 »12-3i9
Ainstordaiii. Sight. 12-0% OVZIM
Hamburg.. 3 mus. 20-52 -»20-.5ri
1,367
141,063
11,100
Berlin
Frankfort...
484,638,078 280,230,398
100,000,000
Trieste
Antwerji.
...
Petersb'g
Paris
Paris
St.
Genoa
Madrid
Cadiz
Lisbon
Alexandria
Constant'ple
50,233.131
5,309,882
.
3,875,032
Bombay
Disbursing Officers' balances
23,519,158
Undistrib'd assets of failed Nat.bks
852,729
Calcutta
New York...
Hon/f Kong.
21,744
107,305
2.400
6,887,069
Bhanebal
July 23 Short.
July 23
.July 23 3 mo3.
'•
20-52 »20-.=i6
July 23 Short.
i(
20-52 »20-56
July 23
"
12-62i«®r2 ti7>a July 23
«<
12-62ia®12-67ia July 23
ff
25-41 US' 25-4614 July 23
July 22I 3 mos,
2333 02358
Short. 25-lCi4a>25-21i4 July 23 Checks
3 mos. 2n-o6i4S25-4li4
*•
25-53% aa.i-bS^ July 23 3 mos.
*<
July 23
46 'i»46i8
*'
July 23
46 -34618
"
July 23
51'8a52
"
July 2.1
•*
July 23
D'm'nd
is. 6l6i8d.
July 23 sel. tsfs
tt
July 23
July 23 80 day p
Islei^itd.
July 23 4 mos.
July 23
1204
20-30
20-3513
20-33
12-50
25-22
2313,„
23-18ia
Is.
Is.
6%d.
613i6d.
4-85 ifl
3s. 70.
4b. llisd.
From OUT own correspondent.
London, Saturday, July 25, 1885.
Trade conditions have not altered appreciably during the
week. Rather unsatisfiictory accounts are to hind from the
f
292,018
35,557,445
Interest on Diat. Col. bonds paid.
490,073.903
44,052,929
857,072
25,355,020
26,213,093
Aggregate.
24.
325.856
Nat. Bks. " failed," " in liquidation," and " reducing circulat'n
38,306,599
129,834
F'nd held for red. N'at. gol d bk.notes
fire p. c. f 'd for red. Nat.Bk. notes 11,790,703
Totals
Balance
Assets not available; Minor coin.
Fractional silver coin
l,476,57l,:i80
1885
1885
OF EXCHANGE AT LONDON AND ON LONDON
AT LATEST DATES.
Vienna
Fractional silver coin redemp. acct.
Int.acct.,Loulsv.& Portld.Canal Co
•Treas'r's tr'nsfer chks.&dfts.onts'g
Treasurer U. 8., agent for paying
Interest on Dist. Columbia bonds.
1,520,634,289
44,053.929
2,771,249
2,771,249
13,482,833
2,332,264'
Totals
red. acct.
.$260,330,398
100,000.000
18,998,997
Bes've ag'st U.S. notes, Acts '75&'83
f^nd held for redeeming notes of
Currency and minor coin
1.
1,
807,281.330
1,880,854,687
Decrease of debt during the month
6,649,392
Nat. Bk. notes in process of red.
Post OflBce department account...
. .
Net cash In the Treasury
Debt. less cash in the Treasury. Aug.
Debt, less cash in the Treasury, July
Net U. S. notes held
National Bank notes held
Deposits in Nat. Bank depositar's.
Fractional currency redeemed.
One and two yr. notes redeem'd
Interest checks and coupons pd.
Interest on Pac. BR. bds. paid..
4,240,341
f
8.7,83,8011
Total debt, less available cash items
31,680,000
28O,C00
Totals
Public debt and interestInterest due and uupaid
Matured debt
Interest on matured debt
I>ebt bearing no interest
Int. on Pac. RR. b'ds due, unp'd.
1,872.071,827
Less cash items available for reduction of the debt.
Less reserve held for redemption of U.S. notes
.
Less on hand
226,836
31.420,000
Total debt
71,672,670
Certificates issued
8,557,004 1,289,333,116
93.873,108
3,944,837
Bullion in treasury
'
123.339.000
128,078,505
.fiilrer.— Standard dollars In treas'y ie6,499,»48
,
Gold certificates
123,289,000
Net gold held
Net silver hold
Cnltod States notes
Legal tender notes, Ac
Certificates of deposit
346,738,931
17.322,320
Certificates issued
t
Debt bearing no interest240,367,S93
litind
2bCaI.
]
«
.
»
Intcrat.
1
516.3S5.996 446,030,974
26,313,092
'
70.'.>65,022
iron districts, but if the reports that the Government intend
placing the fleet in a greater state of efficiency prove correct,
increased animation may yet be witnessed in special branches
of the hardware industries. The woolen and cotton trades
remain in a position of marked quietness without the exhibi-
any new feature.
is indeed tending downwards
a fair foreign consumption, the
^The following is the official statement of the public debt as home manufacturer purchasing as little as possible. We
are, however, now in the midst of the holiday season and to
it appears from the books and Treasurer's returns at
the cloee
of business on the last day of July, 1885, according to the some extent this may account for the present inactivity, but
only very partially. The general business of the country is fax
new form adopted April 1, 1885.
from being re-established upon its old basis. A more speculaINTBRB3T-BBARINO DEBT.
tive feeling is springingjup in Stock Exchange circles, due
Anwunt OuUtajuUng.
Unij.
Character of Intern
Int. Dlte
primarily to American initiation, but no signs of the infusion
Itaue.
P-u'bU Begtatered.
AfJnpaW.
Coupon.
Total.
of fresh life into general commercial transactions can be
i
i
»
reported.
There is, nevertheless, a belief abroad, and it is
3^'
Option. Q.-F. 191.190.S00
194,190.500
12,882
1891. Q.-M.
4XS
198,039,600 50.960,400
gradually becoming more accepted, that we are not far oflE
250.000,000
851.726
4s
1907. Q.-J.
608,725,550 185,003.350 737,728.900 1,689,535
from a change for the better.
4* refdg.certfs. Q.-J.
233 300
58,300
8s, pension ... J.&J.
The political prospect seems to be brightening. The scare
14,000,000
210,000
Paciflo Klls... J.&J.
•64.623,512
•84,833,513
respecting the late reported Russian move turns out to be a
83,320
l,OilO,579.162
1.260.776.112 2,407,583
scare and nothing more, and if the Anglo-Russian negotiations
149.420
• a,3d2.00'> tnatiire Jan. 10.1895; gOlO.ono Nov. 1 ifioa- MRsn
noo t«ii
laun. are dragging their length along but slowly, they are neverthe'• 1*"' »»-'l^.0'>'' Ji>. 1. 1807; «2b,li04,S5l5 jISSsI Tu.'doi^SM
S^A'^"less still progressing.
The captious opposition on the part of
DEBT OS WHICH IXrBKBST HAS CEASED 81NCB MATURITY
some Continental governments having been withdrawn, the
Aggregate of debt oa which Interest has ceased slnoa maturity
is ? 1,0 14 185
Interest duo and unpaid thereon, 1223,858.
issue of the E;iyptian guaranteed loan for £9,000,000 is expected
DEBT BBARINO NO INTEREST.
to take place almost immediately. This will mean a rehabilitation of Egyptian credit, whilst the more than rumors of the
Old demand notes
death of the Mahdi points to a paciSo solution of political
t57,9I5
XiOgal-te Oder notes
846,881,016
troubles.
In that quarter of the world therefore where someCertificates of deposit
81,680,000
Less amount held in Treasurer's cash
thing nearly akin to chaos has held sway for some time past
260,00031,420,000
Gold cortincatos
140,811,320
we are promised the establishment of peace and a better finanLess amount held In Treasurer's cash
17,322.320- 133,380,000
cial condition, and from being a source of weakness and
fillTcr certitlcates
139,-J13,086
Less amount held In Treasurer's cash ....'.'.'..
anxiety, Egypt should now become imbued with the elements
40.340.98098,872.106
Fractional currency
15.337,127
of strength which will tell favorably upon our trade, if only
Less amount estimated as lost or destroyed.
8.375.9316,961,193
our manufacturers abandon their apathetic attitude and attend
Aggregate of debt bearing no Interest
f007,281,23Q
more closely to their foreign interests. The atmosphere cer-
tion of
THE DEBT STATEMENT FOR JULY,
1885.
in
value,
in
spite
Wool
of
—
fl.
i
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:
:
ACOVST
THE CHRONICLE.
1885.]
8,
is clearing, and barring the abeence of any fresh coiUrelimps a. gradually improving trade may be calculated upon.
But tho progress threati-ns to be very protracted.
tainly
Our harvest prospects are decidedly
wheat, but they might
lie
Hiitisfactory as regards
bettor for other kinds of cerealH as
Our hoy crop has been one of tlio Ix'st
many years, and taken altogether tho fanning
rvnialned uteiaAy at
ailvKr ha*
A-
153
.--
'
.^1,-.
Tb«
4n>l|,|d.
'•.-• I-.-.—
«Ui'»
—<-•
t
oonalvninitnt* from
Old OOOa^
'h iuat.,
''- ry"'-
,..
,,
The
Th.
i8ih
I
mm.
took
ins for bullion
x»i>,tt<n, to
urrlvakl.
" strait*.
'
are report^'.
well as for roots.
known
for
interests will certainly not have cause to complain of tho outturn. They will no doubt find themselves richer, and will tlius
have recovered o portion of their heavy losses of recent years.
The homo trade will probably respgnd to this favorable iiiUuence to some extent. Money remains easy and can be had to
»ny amount on good eecurity. It will thus bo seen that prospects are brightening, and ic is to be ho]>ed that their return'
ing lustre will not be dimmed.
A
Natal Government five per cent loan for JCjSO.SOO at pax
has been nnnoiince I.
The Bank rate has remained at its present level of 2 per cent
since the end of May, and there is every prospect of its con.
tinuing without change for some time to come. There is an
The demand
Mitire absonco of fresh feature in tho market.
both for loans and discounts has been reduced within very
moderate limits without any chance of an early expansion.
The introduction of tlie new Egyptian loan will no doubt
steady the market, but it is questioned whether it will have
more than a transient influence. The amount of "calls"
falling due on the various securities during August is about
£5,200,000, or about £2,000, OOO.less than in August, 18S4, and
no exceptional inquiry has to be provided for. Everything
points to continued ease in the market until some time later
in the season. The position of the Bank of England remains
very strong.
The rates for money have been as follows
:
Interest allowed
Op«n market raU$,
for deposit-e by
Bank
London
Trade BiUt.
Bdto.
Joint
At 7 ton
»teur
Six
Thru Fmtr
Six
Stock
Three
Monthiijrontlu Wontfu Monthe Months' MonOu Banks. CaU. Days.
|
|
Jiue
JnlT
s'
3
lo]
a
••
17,
a
"
24'
2
"
««~^ Jfrl5^t8,i!4« - 1M«1«2 a3!« SM®^
«» -I M« -iiMo-i aa [m'i2 Ii5i38x
19 3
«-«
H* - 1 9 - iMaiK ea 'i\^2H iT^aa
H9 -M'« iiiKO - liiOiM i^aa \m»»i
ti-is-iOKA I'ma -|i aim^aa imtn
«« -\u o I'lH^ 1 ^i^ iMaa i»<g2)i
«H-
I
«
H
H-H
-
The following return shows the
position of the
Bank
of
yeard
1885.
Clronlatlon.exeluiltng
7<lsv
.V
other
lilllg..
•>
P^^•'
Otli
«
104,230
S.703.845
3;s.l03..>*57
Qo\
1883.
1831.
a,
J.-i,
£
25,144,750 25,90S,180
4.(i.'i9,943
5,H08,323
20,633.833 23.24(i,n42
17.070,601 13.579,.'571 ll,9»i5.643
22.H04,6o9 22.2lO,r..l9 21,59:1,240
Bee'veofnotc w&coln 17,516,545 14,560,885 12,418,300
Coin and hiillinn
both (Icpanment*.. 26.870,775 24,535,635 22,576,466
Proiion'ii of reserve
4478 p. c.
to liabilities
44 513 p. c,
44 ^ p. 0.
2 p. o.
4 p. 0.
Baok rate
2 P.O.
99lll«
lOOifi
Oongol8
0913,,
n. <-iii, ;.,••«
m
£ne. wlieat, av. prioe
Mid, Upland fottou..
578.
33a. ll.l.
42h. 2d.
111.
4lS|iid.
S'^a'l.
Ha 40 mule twint
1882.
£t
ritlea.
Otlivi
I.
Bar gold, fln«.. ot. 77
Bar gold, ooiitalo'g.
aOdwti. BllTer.oi.
26,690,890
3,859, 1S6
d.
«M
nwH
Prte* of SOmt.
JvtyXt^.
Jutyi
d.
I.
n
Jal»l«l
z
«.
»«
Barillrar. ana..ot.
Bar llTar.oontaln.
lug Ogrfl. gold..oi.
TT ION
Oak* allrn
otMazloan dola...
Span. donblooBi.ot.
8lAiD.doablooaa.oi.
49 3-in
49 9-16
49 8-ia
4g9-i».
ftS
The ofllcial liquidator of the Oriental Bank is applying to
the Court for leave to pay 78. in the pound, making ITs. in
the pound in all to those creditors who have assented to a
settlement on that basis, and whose united claims amount to
about £150,000; likewise for leave to distribute a second
2s. 6d. in the pound to the general body of creditors.
According to Kemp's Mercantile Gazette the number of
failures in England and Wales during the week ended July
18 was 00, or 31 more than last year, making the net increase
dividend of
The number of bills of sale published in England
and Wales was 236, or five more than last year, raising the
to date 314.
increase to date to 418.
14, being a decrease of
The number published in Ireland was
two from last year, and a net decrease
to date of four.
Messrs. Baring Brothers & Co. announce that they are prepared to receive subscriptions for £3,000,000 first mortgage
debentures of the Canadian Pacific Railway bearing 5 per cent
Subscriptions are
interest, the issue price being 95 per cent.
Amsterdam by Messrs. Hope Brothers. The
required for the equipment and terminal facilities,
and for the general purposes of the company. The issue is
part of an authorized loan of $35,000,000, the remainder of
whidi will be held by the Dominion Government until 1891 as
security for advances made to the company. As the loans by
the Government bear only 4 per cent interest, and these bonds
5 per cent, such a proceeding is to the interest of the company. Upon the opening of the line the fixed charges will be
approximately as follows $20,000,000 Government loan 4 per
$15,000,000 first mortgage bonds 5 per cent,
cent, $800,000
also received at
money
is
:
;
$750,000
;
fund,
Government of Quebec, 5 per
Canada Central bonds and sinking
and rental of leased lines, $778,434,
$3,500,000 due to the
cent, $175,000
England, the Bank rate of discount, the price of coasols,
the price of middling upland cotton and wheat, and the Banker s'
Clearing House return, compared with the three previous
JuXym.
9<M.
Price 0/
;
$1,823,000
per cent, $107,400,
making a total of $2,610,834.
The excitement in connection with the failure of the MunStrenuous efforts have
ster Bank has considerably abated.
been made to resuscitate tho undertaking, thus far without
success.
The Anglo-American Telegraph report shows
gross receipts
for the half-year of £143.256, or £92,730 less than in the corres-
27,4t;2.(wl
14,34;l.l71
ponding period, owing to competition and bad trade. The
Further quarterly dividends of
total expenses were £.56,913.
6s. percent on the ordinary, and 12s. per cent on the preferred
23,344,419
stock are now recommended, carrying forward .£5,313, The
393? p. 0. directors propose during the current and two next years to carry
n
3 p.
100% £100,000 instead of £150,000 to the renewal fund, unless some
49b 2a. special repairs become necessary. That fund now amounts to
22,7ia.yy9
12,403,529
Ctd.
S'gd.
9'8<l.
O^sd.
lO'id.
Olearinir-House rel'n. 93,369,000
92,681,000
94,787,000
92,120,000
£788,331.
Tho
directors state that the result of the reduction
8d. per word is "that none of the companies
and open market rates at the engaged in carrying telegraphic traffic across the Atlantic are
chief Continental cities now and for the previous three weeks earning any substantial dividend."
have been as follows:
The grain trade has relapsed into a condition of considerable
Wheat has remained nominally the same in value,
quietness.
July as.
JulylO.
July 9.
juiv a.
Bateeof
but has pushed up with an easier tendency. A better inquiry
BtUrettat
Bank Opm Bank Opm Bank Opm Bank Open
has prevailed for Australian wheat for Ireland and France than
Rate. Market RaU. Market BaU. Market BaU. Market
was expects, but millers here are doing little or nothing, pre8
Purlo
~a ~air
aw
ferring to wait for the ne^ grain, which cannot bo very long
4
fl«rlln
an
4
4
rr&nkfort,
a
coming on the market, as with a continuance of the present
4
2M
Hamburtt...
4
4
2H
an
au
favorable weather the wheat harvest in the sotithern counties
a«
S
a«
an
an
««
2«
an
will probably bo general in two or three weeks from this date.
3
an
8
aw
an
4
4
4
Madrid
4
4
4
Whaever may be the actual yield, and an average crop is cer-
The Bank
of the tariff to
Is.
rate of discount
m
m
Bt. Pcterabarg..
Copanhacen.
3
4
8)4
6
8
e
4
8
8W
8M
3M
sa
35<
8
e
8«
8H
The
much as possible from dealing is
tainly counted upon, the quality promi.^es to be excellent.
desire of buyers to withhold as
it is by no means
more ail vantageously to
bullion market
themselves than at present. A few needy holders may be comGold— Tlic rlao In the Dutch exehauKO prevents farther export to
that qiuvrter. iMit tlni bulk of the arrival'! in bar* haa heoii taken for pelled to realize at once and may temporarily upset the mar.
of tile exeliange Willi tliat country now pennittiiix
G<
ket, but if purchases are kept back on the chance of such an
till
>Mi thlrt Kido. Tlin Cathay bniiiKht £7(i.00i) fr.mi
ih.l
..veliuH «.^O.O00 from South America. The Bunk event taking place, the mere execution of the orders should
,,i
& Abell write
Messrs. Pixley
I'l
I*;
•
as follows on the state of the
partially explained
by
this expectation, but
certain that they will be able to operate
'
!
I
iiiKt, i>400,()<iO in iivereiKns fnr Houth Amei icu and
£30,000 fur LUbon, uud has rooeived £30,00 J from South America.
hitHsoliI, HiiM-'iMir
counteract in a great measure the effect of the forced sales. It
THE CHRONICLE.
154
of prices has been
generally maintained that the lowest level
steadiness
without
not
are
values
that
fact
reached, and the
is dishere
prospect
the
when
on the eve of the harvest, and
belief is well entertained.
this
that
proves
encouraging,
tinctly
will certainly
In the interim between now and harvest, business
values can be
remain very quiet, and no particular change in
is
expected.
of
The following return shows the extent of the imports
past
the
during
Kingdom
United
the
into
produce
cereal
produce,
46 weeks of the season, the sales of home-grown
with
the average prices realized, and other items, compared
the month; also
1, and the increase or decrease during
the changes in legal tenders held for the redemption of bank
notes up to August 1
:
Xalional Banii Notes—
Amount outstandiug July 1, 1885
Amount issued during Jul}'
Amount retii-ed duriug July
Anount outstanding August
1881-2.
1882-3.
1883-4.
45,439,882 58,972,833 52.398,605
13,653,725 14,954,280 12,10i),324
9,683,2)7
11,270,694 13,546,443
1,954,874
1,931,752
1,511,781
1,801.211
2,787,561
2,763,312
25,277,471 20,669,561 20,S1H,815
8,817,585
13,381,628 15,108,913
1S81-5.
Barley
15,367,170
11,120.975
1,786,564
3.134.583
24,238,717
15,130,111
Oat8
Peas
Beans
com
Indian
nour
Supplies available for consumption (exclusive of stocks on
September 1) in 46 weeks:
Imports of wheat, owt.49,763.700 45,439,882
15.130,111 13.331,628 15,108,913
Imports of flour
Bales of liom.'-jjrown.. 37,751,602 37,483,807 41,227,800
52,318,605
8,817,585
31,075,100
96,311,317 115,309,516
92.291,290
102,645,413
Total
home-grown wheat, barley and
the leading markets of England and Wales during the
The extent
oats In
of the sales of
weeks of the season, together with the average
prices realized, compared with the previous season, are shown
46
past
$I,'>72.330i
Legal Tender }foles—
Amount on
note'*
deposit to redeem national
July
$316,911,148
1885*
1,
1,720,180
2,792,510
bank
$39,103,193
1885
1,
$2,766,680
2,785,160
Amount deposited during July
Amount re-i8eued & b'nk notes retir'd in July.
Amount on deposit to redreem national
bank notes August 1, 1885
18.780
$39,084,373
According to the above, the amount of legal tenders ondeposit August 1 with the Treasurer of the United States to redeem national bank notes was |39,084,373. The portion of this
deposit made (1) by banks becoming insolvent, (3) by banks
going into voluntary liquidation, and (3) by banks reducing or
retiring their circulation, was as follows on the first of each of
the last five months:
April
Deposits by-
itay
1.
June
1.
July
1.
1.
August
1.
1881-2.
1882-3.
58,972,83'J
1883-4.
1884^5.
1$318,631,328
.
•Circulation of national gold banks, not Included above, $119,194.
IMPOSTS.
...OWt. 49,763,700
XU.
August
last season:
Vheat
[Vol.
71-S.7811
698,584
776,269
817,611
831,001
12,717.293 12,648,515 13,318,011 13,5d9.28. 13,796,666
Reduy'g und'r
act of 1871 25,869,733 24.551,603 23,498,503 24,788,078 24,589,123
Insolvent bks
Liquirt't'ff liks
39,41S.027i3h.01 7.792
Total
<7. 59-2.812
39,103,153 39 081,373
Coinage by United States Mints.— The following statement, kindly furnished us by the Director of the Mint, shows
the coinage at the Mints of the United States during the month
of July and for the seven months of 1885:
in the following statement:
Month of
Av'ge
Price
Sales.
s.
Sales.
d.
Av'ge
Price
d.
s.
2,613.599 38
2,631,92" :u
2,952,805 30 10 a,052,982 31
359.568 20
279,598 20 7
Wbeat, qrs
Barley....'
Date
Sales.
Prim
d.
7 2,378.529 41 9
4 1,913,846 32 10
266,418 21 7
5
,
Wheat
-jwt.
.
3,951
9.001,800
1,108,130
1,813,880
2.607
2,130
3,951
960,504
12,210,501
16,";22.387
16,222,387
$
140,313
3bil,7r6
8'9
852
TUi-ee dulLirs
Quarter eagles
Standard dollars....
1881-2.
31,075, ;00
1882-3.
41,227,80!)
The following shows the quantities of wheat,
4.50,2 10
Double eagles
Kagles
Half eagles
Half dollara
Quarter dollars
.
1883-4.
37,488,807
Value.
*
totals for the
Converting quarters of wheat into cwts. the
whole kingdom are estimated as follows:
1884-5.
37,751, 402
Pieces.
Value.
Pieces.
Av'gt
s.
Seven Months in 1885.
July, 1885.
Venomination.
1882-83.
1853-81.
1381-85.
flour
and Indian
1,900,000
l,9C0,f00
550
550
275
1,166,075
146,607
17,68 ',562
16,369,407
1,174, 8 iO
73,743
64
100,706
...
1,900,000
1.900,000
Total silver
corn afloat to the United Kingdom:
Wheat
qrs. 2.ii37.000
Floor .equal to qrs
Maize
qrs.
115,000
384,000
1883.
1.431.000
113.000
228,500
Last year.
1 ,554,000
Last week.
2,028.000
187.000
381,000
At present.
162,000
301,000
2,1511
One cent
1
Total minor
Busllsh Financial markets— Per Cable.
Total coinage
daily closing quotations for securities, &c., at London
are reported by cable as follows for the week ending August 7:
National
The
London.
8ai.
if on.
49i«
49ie
Silver, peroz
d.
9^78
Oonsolfi lormoney
99''8
Consols for ancount
iVoh rentes (In Paris) fr Sl-1719 80-75
115»8
U. H. Has of 1891
J
•
12.-iSi
U. H. If of 1907
Canadian Paoiflo
43
Chlo. Mil. &8t. Paul.... 8)38
Krie, common stock
IS'g
N
-Iff
Yo''
'
&
53%
w
131
nUnols Central
Ppnupvlvinla
Phlli!delj'iittt<tc
\
,
Reading
'''*li*l"ll
Tues.
TKurs.
yred.
B%
100
lOO^e
8'«
9
9934
!)9=s
1,900.0(10
1,900,000
B.*.nks.
0,070,6-
1 1,517,6 -O
174,513
30,197,716
28,784,421
—The following national banks have lately
been organized:
3 371— Tlie Ninth National Ba'ik of Philadelphia, Pa. Capital, $300,00
John Dickoy, President; Cli.arles II. IJilcs. Cisliier
3,372—Tlie Camdwn N.ilioaal Bank. C.imden. N. J. Capital, $100,000.
ZopUar (J. Howell, Pres dent; I. C. Maitiuuale. Cashier.
Imports and Exports for the Week.— The imports of last
week, compared with those of the preceding week, show a
general merchandise.
decrease in both dry goods and
The total imports were 17,853,614, against $8,373,0-^3 the preceding week and 17,318,85 4 two weeks previous. The exports
for the week ended August 4 amounted to |6, 318,881, against
$5,252,371 last week and #6.133,533 two weeks previous. The
following are the imports at New York for the week ending
(for dry goods) July 30 and for the week ending (for general
also totala since the beginning of the
merchandise) July 31
1.
4918
493 IS
193l6
991616 »9ia,8 99%
99%
99%
99'-i6 9913,« 99%
80-90
80-17lfl'80-ti7'a
11538
11538
i'15'14"
115's
I25I3
12538
125>a
1251a
1358
4414
4158
441s
*'0»8
81
81
SO's
1638
lnl«
16
16
l.'?4i9
I33I8
131
13l's
53 14
53
53'4
9
1-38
9'«
9913
;
©omnicvclal and W^isttlX^xitnyxs ^cujs
Bonds Held by National Banks.— The following interesting statement, furnished by the Comptroller of the Currency,
shows the amount of each class of bonds held against national
bank
and to secure public moneys in national bank
depositorifis on August 1.
We gave the statement for July 1
in Chronicle of July 4, page 13, and by referring to that the
changes made during the month can be seen.
flrst
week
in
January:
KBW
FOKl«ION IMPORTS AT
ftor
.$3,103,116
»9,493,712
$10,679,979
$8,437,224
$7,855,644
$80,476,787; $75,387,925
223,162,7111 201,873,637
$70,672,551
192.088,7i8
$57,910,290
167,172,208
3»,
Act July 12, 1882....
Currency 6«
4,^ per cont8
4 per cents
Total
Bonds Held August
Public Deposits
in Banks.
1,
1885,
to
Bank
Circulation.
$7,995,000
120,000
2,0 10,000
7,252,000
$110,571,100
3,503.000
$17,107,000
*3lii,225,150
Total Beld.
$148.56K,100
3.623.000
49,05-5,250
51,0;)5.230
117,093,800
121,31,5,S0i>
Ueu'l mer'dise..
$26 ',76 1.279'f2 25.382,498
In our report of the dry goods trade will be found the imof dry goods for one week later.
The following is a statement of the exports (exclusive of
siHJcie) from the port of New York to foreign ports for the
week ending August 4, 1885, and from January 1 to date:
BXPOBTM F-ROM !<S<r rOKK H-OR THH WKBK
p
irts
1882.
$$27,632,150
For the week...
Chanoks in Lboal Tendetw and National Bank Notes to
August 1.— The Comptroller of the Currency h.is furnished us
Prijv. reported..
the following, showing tho amounts of national bank notes
outstanding July 1, together with the amounts outstanding
82,332,337
5.523,307
1.
Dry Good-^
Secure—
$3,125,0731
5,312.151
7,576,863
rxtal 31 weeks. f303.839.528 $277.261,502
U. S.
Deteriplton of Bonds.
1885.
$2,700,813
6,797,891
Gen'l mer'dise.
Total
Since .fan.
1884.
1883.
Dry Goods
circulation
TORK.
1882.
Week.
T.)tHl 31
$3.472 071,
$7,682,319
lS7.814.278j 202,601,153
weeks. $1
VI6.3
1
6.319 $ 21o.271.00
Ibe following table siiows
t
the port of
1884
1883.
New York
tlie
i!$
«r,,S30 5Hl
179.1 -.7,711
i
«5.98-', ^75
1885.
$6,213,866
190
3ll,-:49
$196.530,115
exports and iiuporia of specie
for the
w6ek ending August
1,
and
——
:
ALML-8T
Jtimmry
since
THK CIIIIOMCLK.
188B.]
8.
and for the oorrwpondlng porio.U
18«5,
1,
155
({aotatlons In Boaton.
in
PhlUdelphla and Baltlmvr*.
IBM uml nm:
xraim
1
impoht* or cpieaiB at
41id
hmw
814.
r\.
'
fitnetJan.l.
Wfk.
MKOCKlTIIM.
Alk.l
""
'nnr Pllta
ItmparH.
MaparU.
eoid.
Wuk.
tokk.
.mUot—
1111
BM. Asa
* w.—o«».,(i«
107 >*..-.
iio iir
,0.,'8»
,1889
/KnM,/iin.l
7«
f-l«t.7i".«('..''»H
-..,^7.....
OrtiikT
Britain ........
fl.OOO
$2S<>.000
......
9.5(12
0.1.001
Oermaiiy
83,366
iil9o6
S.GOO
2n«.072
231.210
3,391
$18,900
W.3?0.1fl:i
87,8.50.778
»3 -1.032
127,296
6,838
Mfixlno
BoiitU Ainxrica
Ail other couiilrlM...
Ti>lal
16,074
2.000
1883
2i0.708
*I,owt.U-7»
1.50;'
5,529.412
Wt^it Inalcs ..........
T.t»l 1S85
Total 1884
«l,2a5
a.i3<>
7k.
2'
3J:i. _
o:i,.:o7
$5.830. 805
7.415.-.-J5
5,lOV,lJ8
Sitter,
$3S7.'<00
$9,021,378
l.'J.OOO
40I,G>IM
8,934
92,610
220,955
Ureal BtlUln
Priino«>
O^nuHii
Wo-^t liiilloA
MokJoo
^iiTh Atiit^rloa. ......
7t>
8,235
589,624
All nMicrouiiutrlm...
$360,934 $10,334,170
8,'.'2 .'^77
410,945
8,143.003
312,030
Total 1885
Totrl 1884
Total 1888
1
$27,8 -9
$
3',386
313,iV4
1.728
11.563
237. .>35
507, »77
7,458
$1.0!»4.2S9
2.:mo..172
$lfl.fi71
87.413
132.217
2,-91,5e3
for the week in 1885, 28,421 w«re
coin and |3,446 American silver coin. Of th*ezportsduring the Bame tune, $18,900 were American gold coin
and 11,700 American silver coin.
Of the above impons
American
f?old
United States Sub-Treasury.—The following table shows
the ref^iptB und payments at the Sul>-Trea.sury in this city,
as well as the balances in the same, for each diiy of the past
week
Pai/mtnt$.
Reeeiplt.
"
*
750.069 9".
i,2i0,3ii as
1.7I0,4:J4 70
],2ril."l0 39
1,328.314 01
1,016,670 83
1.
3.
4.
5.
6.
7.
"
"
"
"
"7,'>99,t'i0
Tottf...
Ourrency.
Coin,
912.8^3 58 I60,87a.7.'il ?a 24. 141,6 '3 50
l,584.0i<5 ,5u Iti0.3l5.36i <>i -'4,:Ul.i7l 32
825.10'J 81 IHO.S^i.oOO 05 24.987,458 49
978.-<(>.^ 3!> I80.(>90..!28 Oi 25.1 I7.<fl3 20
905.200 51il(i0.8t().55i 13 i5.4U.27l 54
757,467 4a IB0.793,!91 76 25,716,-3t 25
86
.«,963.'!10 3ll
—
been called for Auj;.
i-.t
proposed iKiol, on account of the refusal of the Gulf Colorado
& Santa Fe to agree for five years. It is stated that President
Sealy of that road is on his way to New York to confer with
Messrs. Gould and Huntington.
Texas & St. Louis.— The sale of Texas & St. Louis Railroad in Texas advertised for Aug. 4 was postponed at the request of bondholders for 30 days, pending efforts to perfect
a reorganiz ition.
Auction Sales.
by Messrs Adrian
—The
following were sold at auction lately
MuUer & Son:
li.
Shnret.
10 OiiarcVnti Fin- [nn
Shares.
71
HoiHalonic RK. com
.5>i
?2
.MV 20e.
100 Vfe'tTD Improvmf. Co. 51
45 Tlinllart, Bllven JcMeail
Maiiiifiict'ni; <To..*5
Bull l)(iliilii)to.M'u<'olot
I.ittlc I'UtK. Coil""!.
IlarriiiKt""
0r.Vfilal
MIn'u -S^ for
Mliilug
<li«tlip't
Siii.ly
RR
70 Bxtlway
C
Lex.
Jc
$6forlot
Big
6^
Combustion
$1 for lot
iiipiiny
2'i Ke* y Mntnr (;o...$ 's p. «h.
lOO Piinmiic OpiierOo igj for lot
Nnw
.Ttfiwy Zinc
i
Iron
2^ EqiiltniiloOft» Wt Co
12 Bowery FIro Ins. Co
3 Klreiii"n'« lUB.
anil
Mllilnit
ei Eliz
lot
Lake Gold ami
Silver
7
I
91'«
..,>
p»*«niiip«l«— 7».
ll.'l
Bowery
1
1
Honif
r lot
.13'Sig
I2(i
"0
125
Co
2 U.S. Fire Ins. Co
2 Niitlon^l Fire Inn. Co.
7
f
..
!I0
12'»
Fir»» Iiis. Co
[tiHiirance Co
121^
Mer<'liant«' Inn. Ci ...lOOif
98 Orcut Wfi.item Marine
lunurunre Co
i5'4 16
$3,000 (Mty of Qiiincy, HI., On,
93»«
<;!
65
due 1898
16 ''h-in'calNat.I?k.2,'t55-2,.i80 $1,000 J.'llct & Northern In60 Willi iiiislmrK Fire Ins.. 221
diana RK. l»t7B, due 1907. 126\
5 Co'iiini'Mial Ini
225
$1 00 Jer»?y City 7<, due
109 '4
17 Brouilwiiy Nut. Bauk...2r.0
1900
,(
•
.V.
Hi
.1
1
,.
..I
1180
121
'in.
.V
7»
in
IHSH
..new..! 12a><
KaalouA Amb'y— Ka, 1920 no>i
7i>....
Kl A Wmnp't-lst,tts, 1910 117
ui'-,'
>..,--8ii..' no
.18. perpetual
Harrlsb'K-lst.Bs, 1883..
K. llli .-^1. J.), .t C. B.— 7« }1'J4
lOil'4
H AB.T-lal,78,«., 1890 112
l.lllle K. .t Ft. H.-7«. iKt
113
Cons. Ss, 1895
K. Oily f-p'il <ft Mem.— 6» «
3S
Meiioaii ivinral—7»
IlhacaA Alh.-lst, (ld.,7»
l,«h.V.-lBt,6s,G.AK.,'08 12t ,1-ift
Inrotue
138
74
2d, 7b. reg., 1010
Hcrip
7U
I'Cbunturo, 10*
Cons. 6a, O.A R., 1928.. ia4»4'
N. Y. A N. Kngland—6a.. 117" 107 'i N. O. Pac.— lat,68, 1920.
uo
Vo. Pcnn.- ad, 7s, op. '08. i
T»
180
aen.,7B, 1903
2d ninrt
>•»".•>'
fl»..
:»1, 7^,
K.iHi r.
..I
I
Mexico * So. Pao —
SI.
ias"
^7a
Debenture Ss,
Norfolk
ucoino
In
Olrt lNilniiy-6!i
Ik
Oil!
Oil Cl,
lOi
Butlaad-ns, iBt
Sonera— 7«
STOCKS
AtehUion A Teiieka
Atlantic A PaclHc
BoAtonA Albany
Boaton A Lowell.
Boaton A M:ilno
Bnslon A Providence..
t
Boston Keveie B.
A
(;atHl>rid.e
87>4
we»l Michigan..
Sandusky A Cleve.
A No., prei.
8U
}80
5133
m
A
{^2
34
Ft. .Hmltll.
Louisiana A Me. River..
Prefcrrwl
Maine Central
Mai-q. HouKbt'n A Onton.
Preferred\
Metropolitan
Mexican Central
V
138>i
laO"!
109 «
C—
121>«
90
Phil AErle— l»t.7s.cp.'88
Cons.. 6b, lO'.iO
....
Cons.. 5s. 1920
N.Y.— Isi
Phlla. Newt.
108>a
65
35
,
.
108
A
B.— 1st, 6b,
1910..
2d, 7s, coup., ".SOS
Cons., 7s, reg., i911 ....
Cons.. 78, coup., 1911..
con8.,6s,g., i.ac.ign
Imp., 68, ft; coup., 1 897
Gen., 68, g.. coup., 1908
Oen., 7», conp., 1808
Income, 7fl, coup., 1896
Cona.58, lstser.,c.,1922
Cons. 5s, 2d ser.,c.,1933
Conv. Adj. Scrip, '85-88
Debenture coup., 18931
,-• ••1
Sortp, 1882
laii
Iowa Falla A Slonx City.
Kan. C. Clin. A Sprinitf'd
Kan. C. Sprnigf. A Mem.
129<4
Perklomen— I st, 6s,cp.'87
A
SO
i
Ist. tfs..
Us, coup..
.
Cons.. 8b, reg., 1905....
Cons., 6s, coup., 1905...
Cons 5B, reg., 1919....
78, 1896.
Pa. A N. Y.
PhU.
iU3
PrefeiTed
.
Pennsylv.—Ueu.,68. reg.
aen.es, cp., 1910
7,1906
53 <3
Marquette.
45
.
ISO
8ft
Preferred
Rock
17SS
170»«
PortfiiotiA Gulf
Little
17H1,
B\i
Maas
A
73,
ili2
A
FlicIibtirK
Pure
rilni
7",
lis
179
ISO
Lynn §*13
84
Concord
Connecticut Klver
Oonn. A Paxnuiupalc
Conuotton Valley
Kaalern,
M
'
PoehloA Ark. VaL—7».. 123
Det. LaiisinK
ng
A West.—»en..6>
93
N. R. niv.. i«t. 6s.in:«
.ir.-l»t,8B S102"s
N. V
rrtennb.A L.Ch.-Con.6B
Old
130
1081,
98
72^
71
40
ii5
815
i'd"
Conv.. 78, R.C.,1893..»
Conv. 78. cp.off, Jan.,'85
Phll.Wll.A Ball.—is.tr.ct
puts. Cin. A-St.L.— 7s
puts. Tims. A B.— 78.CP
ShamoklnV.A Potts.—78
Shen. Val.-l8t. 78, 1909
Oen'lOa, 1921
Income, 69, 1823
Income, 5s. 1914
108
{90
7'.
Nashua A Lowell
2p/«
S. Y. A New F.ngland ...
Northern of N. Sanipsh. '^0
Snnbury A Erie— Ist, 7».
Norwich A Woroeater.. .}..-.. 16^
Sunb. Ha7.. A W.— iBt, 6b
1-=^ 158^
..-.
Old Colony
2d, 68, 1938
----Ogdonnli. A I.. Champlalu
Syr.Gon.A Corn.— Ist. 78.
Ponland«ac«A eorism. «'J7.
Tei. * Pac— 1st, 68,1905
18
Rutland -Preferred
Con^ol., 68, 1905
llNi
Summit Branch
Uidon A Tltusv.— iBt, 78.
84
A'orceai er Naah'aA Hoch
United N. J.—Con9.69,'94
13''a
Wl8con!*ln Central
Cons. 68, gold, 1901....
Preferred
Cons. 68. gold, 1908....
Vl>,
120
i
33
I
106
100
I
Gen., 48,
PHII..AI>EI.FHIA.
RAll-ROAl) STOCKS.!
uap
A PhU
Buffalo S.Y.
Preferred
3"8
6
Camden A Atlantio
Preferred
Catawirtsa
let preferred
2il
19
Prefeired
HnniiiiKd'n
A
Prelened
Lehlgli Valley
Preferred
13'J
Cons., 7s, reg., 1911 ....
Pennsylv.—6s, op., 1910..
Sohnyfk. Nav.— l8t,6s,rg.
41
55
Atlanta A Charlotte.. ...
100
Baltimore A Otdo
let pref
2d pref
Parkersburg Br
A
iil\
2214
Erie
Norriitown 110
Phlla. tier.
N.Y..
Phlla. Newtown
9't
Phlla.
Reading....
Bait
Phlla. Wllm.
Pltl9b.cin..» «t. L.-Com.
Unltetl N. J. Companies.. 1197
Weal Chester— Cons. pref.
A
A
A
A
WeslJeraey
West Jersey
A
Ailantlo..
CANAL STOCKS.
43
Lehlflh Navigation
PenuHvlvaiiia
Schuylkill Nav., pref...
.
BAlLROAli BONDS.
AUegh. Val.-7 SlOs,
7s, K.ext..ieiO
62
23
«1S
6s, Sertes
fts.Serles
I
A
B
123
Onion RB.— lst,rua.JAJ 117
Canton endorsed
Plttsb.ACon'ellB.—7sJAJ
Virginia
A Tenu.— 0»
8s
W.Md.—6b.
1st. g.,
A
—
1123
104
A
VVUm.C A Alg.—6b
A Weinon— OnM.T.
Wll,
H22
11»
101
J.AJ. 104
J
3d, pref., J.
2d. guar. I)y W.Co.,J.*J.
J
88, S<1, guar., J.
mil
Tr. «B,
49
56
50
Weeiern Maryland
RAILROAD
IT2
6
.
2d, 7«, 1»0>»
St,
—
BONDS,
Pref
13.)
115i» 117
Atlanta A Chart.— Isi
i^aHi 96
Inc
Balt.AOhlO-6s,,'86A.AO 102 <4
Cen. Ohio.—6s, lst,U.AS. 109 "» 111
113
CbarLCoLA Aug.— 1st..
106
2d
101%
Cln. Wash. A Bait.— lato. 101
«
57
ST".
2dB
80H 81%
8d9
48'«
l»t Inc.. 5b. 1831
Oreenv.— Ista ios"
"9 ColiunblaA
8S>B
-.
2ds
No. Central— fas. J. A J.
121
120
6b, 1900, A.
120
130%
68,Kold.l900, J.AJ....
A
1
50
50
79
166 <<
9>«
l»t.6«,re«., 1908
BelTM'e I>el.-lsi,tis.l90a
ad, 68, 18S5
3d, 6s. 1887
Bell's Uap-lat,7s, 1893.
1st, «8, 1904
Consnl.,6s, 1913
Buir. N.Y.A PhU.-lst,«8
Cons. Us.
106
68
AO
'96
Inc. 7a. end., coup., *94
Ashtah.
Plttnb.— Int.Bs
135
BAT.TIMORE.
BAtLB'D STOCKS.! Par
60
Central Ohio—Com
North PenuHylvaula
PennMVlvaula
80
119%
791»
2d, 68, reg., 1907...
6
}l2Si
o7»4
Northern Central
PUUaifelphia
3125
l8t,79. 1899
Cons. (l9. 1909
W.Jer8eyA.Vtl.— Ist.Bs.C. {107 >«
Western Penn.—68, coup. {110
6b, p. B., 1896
Gen., 7a, coup.. 1901
* Del.— lBi,6s,1886 78
Lehigh Nav.—68,reg.,'84. 1U9
Mort. BR., reg., 1897 ..
"58""
Little .Schuylkill
Mlnehill A -•ch. Haven.
NeaniU'ltonlng Valley
Norfolk A west'n— Com.
Piet^rred
103
Ohes.
B2
Broad Top
1923..
old,
CANAL BONm.
20
ft4
plert-rred
Oelawaif.t Bonnd Brook
Kast PeiiiiHylvanla
Elmlra .t WllUamsport
77
41
Warren A F.-lst, 78, '96
Westchester -cons. 7s..
W.Jersey— l8t, 68. cp.,'96
AllOKheuy Valley
Ashtabula A Pillabuig..
Bell's
Texas Railroad Pool.— The conference of Texas railroad
Galveston finally broke up without forming tlie
managers
•
A
128
'1)4 i
;.
Prefi-rred
20.
South I'ennsjilvania.— It is asserted by soime of the sul>
scribers to the South Pennsylvania road that the offer made by
Mr. Twomhly at the recent meeting of 8ul)scriber8 did not
contemplate a liond, and he intimated that it would be a stock
bearioK a gusrantee. In Phila<lelphia it is stated that Andrew
Carnegie will cast his proxy for the ijil.OOO.OOO of his sulwcription to the South Pennsylvania Railroa<l with Mr. Vanderhilt.
This proxy has been in doubt for some time, and its reception
.gives more certainly that the negotiations will go through.
800
500
900
i2l9
<
Clue.
Clnn.
Memphis & Charleston.—Vice-Presi lent Calvin S. Brice is
reported as saying: "The suit for the cancellation of the lease
to the Eist f enne-isee Virginia & Georgia Railroad Company
is progressing;, and in due time a decree cancelling the lease
will he entered, and from that time on the Memphis* Charleston Riilrcad will be oi)erated as an independent corporation
This is
for the l>enefit of its bond and stock holders solely.
quite independent of the question whether any portion of the
stock hdliler^. whether a nrijority or not, sell their stock to
East Tennessee Vir'<inia & CieorKia. the plan for which has
been talked of, but has not been consummated. No matter
whether General Thomas or myself retain our interest in the
stock or transfer it to the East Tennessee Company, the Memphis & Charleston Railroad will be operated for the benefit of
all its security holders without discrimination or preference."'
A meeting of the stockholders opposed to the sale of this
road to the East Tennessee Virginia & Georgia Company has
9.1
Ncbnuka. 4>
Oonn.
Uheahlre. preterred
Bnlnnc^K.
Aug.
118
119
1108 ><
A-ikii, ti4..Nini-ri. pt
.Nt'hra
US
123
>
•Ex-dlvlUend.
I
Per shar*.
t
la dofaolt.
{
Last pnoe this waek.
: :
:
THEICHRONICLE.
156
She
The
August
Railroads.
Cloreland & rms. guar.
&
Payable.
(((nar.)..
Vh
Sept.
Aug. 11 to Sept. 1
Z^a
»
Aug.
Aug.
August 7 to
a'*
AlKT.
seem to be substantially good except as to wheat, in
4 68
84
5 20
4
5 17^3
40%
(guilders)
40 »s
95 1«
The following are quotations in gold for various coins
silver Ms and 'aa. — 995i« par.
$4 86 «$4 90
3 90
XX
10
^BW VORK, FRIDAY. AUiJUST 7, 1885-5 P. M.
crop
The Money Market and Financial Situation.—The
all
Coins.
Sovereigns
Demand.
4 86
4 8412
Parla (francs)
Amsterdam
;
Sixty Days
7.
on London..
Dooamentaryoommeroial
Napoleons
Bank.
Hantiattan Co
reports
billa
Frankfort or Bremen (reiohmarka)
Piiss. Rivers pref.........
Ff. 8. &Gultpref....
Kausaeaty
Book* Oloted.
(Days inclusive.)
Per
eenl.
of leading bankers are as follows
rate.?
Prime bankers'sterling
Prime oommerolal
annonnoed
following dividends Have recently heen
Hame of Company.
Conn.
The posted
JBaukers' Oja^cttc,
Ol VIDBNDS.
[You XU.
Relclimarka. 4 74
3 96
Span'liDouljloona.15 55
XQulldera
Met. Doubloona..l5
.55
® 3
« 4
9 4
a 15
a 15
95
78
00
70
65
Fin^ silver bars .. 1 07 ® 1 071q
par 914 prem
Pine gold bars
9915® par
Dimes & "a dimes.
— 93 « — 95
— 85 * — 85%,
— 84^4* — ....
— 76ifl® — 77
Peruvian soles
English silver
4 78 a 4 84
85 a — 88
U. S. trade dollars
U. a. Bllverdollars — 99\« par.
Five francs
Mexican
dollars..
Do uncommero'l.
but
which the shortage of the winter crop is fully confirmed;
United States Bonds. There is no feature to the Governwet
recent
crop
by
spring
the
to
damage
of
the reports
ment bond market; transactions have been light in the aggreand
Texas
gate, though somewhat larger than last week, and prices,
weather should be taken with caution. Cotton in
good remain about steady.
in most of the Southern States promises a remarkably
The closing prices at the N. Y. Board have been as follows
in some
yield, and tobacco is said to be the best crop raised
—
Interest
Periods.
years.
In Wall Street there
is
less
animation, and the process of
quietly going on.
digesting the recent heavy negotiations
The West Shore bondholders have so far come into the DrexelMorgan plan as to give assurance that a large majority will
stand
assent, and whether a minority will make any determined
The lessons learned
against the proposal remains to be seen.
by investors in Nickel-Plate stock and West Shore bond.s should
.securities
Ijc a warning in all future time to purchasers of
belonging to railroads that are built to parallel other established
roads and divide up their business.
One of the recent features in Stock Exchange transactions
has been the gathering strength of some of the low-priced .specThe immense harvest reaped
ialties, both stocks and bonds.
from the piirchase of low-priced stuff in 1877-78-79 has not yet
been forgotten, and although the course of aiiairs may not e
just the same now, the impression is quite general that railroad
affairs will vastly improve within a year or two, and stocks or
bonds which will not actually be wiped out by foreclosure are
likely to recover largely from their present low prices this
being true of those roads particularly whicli have a good prospect of development, by flie growth of population and agricultural or manufacturing business along their lines.
The city bank statement, issued to-day instead of Saturday,
shows an increase in loans of $6,543,200; increase in deposits
of $3,820,500; decrease in specie of $407,400; decrease inlegal
tenders of $1,721,600; result a decrease in surplus reserve of
$8,085,625.
Rates for call loans during the week on stock and bond collaterals have ranged at 1@2 per cent and to-day at l@li
per cent. Prime commercial paper is quoted at 2J(S4J per
is
4>«B,1891
reg.
1891
48,1907
48,1907
oonp.
4>ia,
33,
6s,our'cr,
63,oar'oy,
68,oar'oy,
69,oar'oy,
68,onr'cy.
*
reg.
This
la
'95
'96
'97
'98
reg.
—
—
Aug,
Aug.
5.
6.
7.
127
129
131
reg
reg
'127
127 •126!ii
*129%'*129 ^11*128^
133
•131% '13134 nso^i
»1333i*133%!n32%
13534;'135
*135:'4'l3534;*134-''4
reg,
reg.
'99.. .reg. J.
Aug.
4.
llli% 11134' lllSpl Ill's
112''8| 113
|ni2'fl 112^8
122i«| 122!V(1 12259 *122'«
122i3*122»9 »122>« *122»«
10278 10;r 102''8
103
coup,
option n. 8
Aug.
the price bid at the morning board: no tale was made.
and Railroad Bonds. Transactions in State bonds
—
State
have been moderately active, the sales embracing $10,000 North
Carolina special tax at 4J; $5,000 Virginia 6s deferred at 6^;
$3,500 Alab.ama, Class A, at Q3@i\ $0,000 Georgia 7s gold at
114i@114; $1,000 Missouri 6s, 1889-90, at 108i; $5,000 South
Carolina O.s, non-fund., at 3J; $1,500 Tennessee compromise
bonds at 54|; $7,000 Louisiana 7s consol., ex coup., at 60.
The market for railroad bonds has generally been quite strong
during the past week, with some classes advancing, while
There have been considerable
others have been only steady.
advances in some bonds that are not sold largely. The Richmond & Danville debentures rose to 76J, in sympathy with the
stock, as they are strictly cumulative, carrying 15 per cent overdue interest up to Oct. 1, 1885, which is apparently secured by
Erie 2d consols
themortgage lien the same as the principal.
declined in the e.arly part of the week, but have since been
active and strong, closing at 02}. against 62| la.st Friday. West
Shore 5s h.ave not been specially active and remain about
steady.
If exchanged according to the New York Central plan
They close at 43,
they should be worth in time at least 50.
Denver & Rio Grande Ists close at
against 42| last Friday.
cent.
108, ex Nov. coupon, against 111^ last week; do. consols at
The Bank of England weekly statement on Thursday showed 68, against C4i; Denver & Rio Grande Western Ists at 51,
a loss in specie of £820,718. and the percentage of reserve to against 48i; Louisville & Nashville general molt, at 103,
the discount rate against 101
liabilities was 42J, against 44f last week
J; do. N. O. & :Mobilc Division Ists at 90 J, against
remains at 2 per cent. The Bank of France gained 2,023,000 95; Oregon & Trans-Continental 6s at 79 J, .against 70i; Orefrancs in gold and 502,000 francs in silver.
Richmond &
gon Improvement Co. Ists at 83, against
;
—
;
83J
Danville consol. mort. 6s at 103 j, against 104; Richmond
Danville debentures at 76^, against 74; Texas & Pacific Rios,
coupon off, at 52^, against 61 J; Colorado Coal 6» at 71,
against 09.
Railroad and Miscellaneous Stocks.— The past week has
been a very uneventful one in the stock market, nothing of
importance having transpired to affect the course of prices, and
business has been duller than for some time psist, though
improving slightly in the past few days. Fluctuations, as a
rule, have not been important, prices being influenced mainly
by the operations of room traders, and the course of jirices has
been irregular, some stocks showing a decline, while others
;
The New York Clearing House banks,
in their statement of
increase in surplus reserve of $380,925,
1,
the total surplus being $64,724,100, against $04,343,175 the
Aug.
showed an
previous week.
The following table shows the changes from the previous
week and a comparison with the two preceding years in the
averages of the New York Clearing House banks.
1885.
Aug.
1.
Differ'nees fr'm
Previous Week.
1884.
Aug.
2.
1883.
Au'ji.
Loans and dia. $306,309,900 Deo.$l,803,300 $288,352,800 $326,822,000
Bpecle
Circulation...
Ket deposits..
li^^l tenders.
Legal reserve
Beeerve held.
115.493,900
9,675,200
883,001.600
44,9^0,000
Deo.
239,500
Dec.
26,000
Deo. 2,064,100
Inc.
101,400
74,74S,8"0
6;i,18S.41)0
14,39>','100
15.(U0.fl0U
304,616,01)0
323,692,900
31,572,100
26.981,200
$76,154,000 $80,923,225
106,il5,900
90,169,000
&
have advanced.
One feature of the market, however, has been the prominence
and strength of some of the comparatively inactive stocks.
Oregons and Northern Pacifies Iiave been rather conspicuBorplns
$64,724,100 Ine. $380,925 $30,161,900
»9.246,375 The
ous examples of this, and they were advanced early in the week
Exchange. Sterling exchange has not shown any activity on various rumors, but latterly most of the improvement has
during the past week, though the tone has been generally been lost.
Other inactive stocks have also shared in this
Posted rates were advanced ^ cent on Tuesday, partly advance, Philadelphia & Reading, Slanitoba, Richmond &
strong.
due to the scarcity of commercial bills, and the market has Danville, and Nickle Plate, stocks having been quite strong.
been firm at the advance.
The Vanderbilts ana Gould stocks have remained about
To-day the rates on actual business were as follows, viz: steady, with slicht fluctuations from day to day, though WestBankers' 60 days' sterling, 4 85i@4 85 j; demand, 4 87.^(^4 S7J.' ern Union has advanced again. The grangers have been someCables, 4 87^.
Commercial hills were 4 83J@4 84. Con- what stronger, though without any important rise, except in
tinental bills were
Francs, 5 20(^5 20g and' 5 17|@5 18i; Northwest.
Jersey Central was also sharply advanced, but
reichmarks, 94}(a94i and 95i@95|; guilders, 40i(a40i and none of these movements seem to have any speciid significance,
40f(®40i.
and are generally due to manipulation. Lackawanna has been
The following were the rates of domestic exchange on New very weak and declined below par, the wcaiiness being attribTork at the under-mentioned cities to-day Savannah, buyinsj uted to the selling of clique stock and the unpromising out.
par, selling i(^i premium; Charleston, buying J premium" look for the coal roads.
selling 3-16@J premium; Boston,
8@10 premium; New
To-d.ay, Friday, there was a very moderate business in stocks,
Orleans, commercial, 125 premium; bank, 200@250 premium; but the tone was strong, and closing jjrices were generally near
Bt. Loius, 75 premium; Chicago, 40@par.
the best of the day.
$95,7.-0,400 Deo.
160,174,500 Dec.
$516,025
135,100
—
:
:
—
V
..
AvotsT
V
THE (HRONICLF.
1885.]
8.
V
V
167
NEW TOKK STOCK EXCiUNUE PRICES KUK >VEEK ENDING AVtiVHT
BIOHRnT
STOCKS.
MonOiky,
Mutordikr,
Aut(<lr«l
AllKllHt
1.
S.
LOWKST PRI0K8.
AlfD
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AllKUHt
4.
AUiKil^t
0.
ANU SINCE JAN.
1885.
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prof,
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New York l^ke Erie A WeMt'u 15a» laV
31
31
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prof.
20
NewYork A New Enfflann
New York .N'ow H;tveii A Hurt
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Ohio A Misslselppl
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,
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21
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13
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4,310
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1
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69
29"^ 293^
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21
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2,160
300
805
700
618
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86
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10
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8.930
60,483
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2
11
10,025
161
2,981
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79 V
47 V
127 V
B,510
8,59.-.
4,391
160
5
23
72
106,169
110 lllV
06 V 96 V
51
54
115
115
66«8
19
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ver..
130
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8
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t
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price
la
ex.dlviUoud.
4V 18
Fell. 20:
17
14
87 V
25»4 Feb. 26
22'a.\UK. 4
48"8Jnly31
134 Jan.
19'4
2
1
JulySO
Julv2S
I41V
43
37
67%
iSH
UV
10
51
Mar. 28
Jan.
2'
Jnno2n
Jan.
3
80 Mar. 21
66 V Jan. 22
21 Jan. 3
59^ Jan. 29
4634 Mar. 21
107 V Jan. 2
3V July 11
2234 Jaly 10
63 V Jan. 2
8
25
61
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ci
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4 Jan. «'
1134 AnK. 6
si's
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17 V
May 28^
80V Apr. 15'
90 V
31
67
Feb. 20|
3
80V Au«.
83,
66V
6034 113
9'
31* 67 V
128VAUR.
5:
90
43, Mar. 30
30
73
334
?0
49
Jan. 30I
Aug.
7j
112 Auk. 3; 125
87
97 V May 4
63 Apr. 7 46
115 Juno26| 98
A3
e6HJuly
78
Feb.
Jan.
Jan.
July
L53
50
19
Mar. 19 112
Jan 8 50
(I
.-.
14
2 V Fob.
114
62»»Mar.
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f]
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13V Mar. 13
30
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36
22 V Mar.
116
122 Jan.
116 Jan. 19 118
'^
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6
18 Feb.
20
10 Jan. 30 15
7V Apr. (I 8
4VMay 27 7
17 Feb. 7 35
fircf..
*Tb«M are tiie priest bid kodaskeai no wUe was made M Uu> Board.
199
2|
71V
17 V
184
163^
1'4
6
90
45
71 July 9 72
1134
7V Julle21 12 Mar. 191 6
11 'a Mar. 21 21 Apr. 27
834 34
1034 Apr. 8 20% Auk. 41
?* 341^
17»*
734 Juno 9 ISVFrti. 27
13
May 29 21 Julv23' 16'! 60 <V
119V Feb. 17 137V Ausr. 7 119V1SB
1-20
Mar. 9il29VAi.r. '20
136V Jan. 2911334 M^y 21' 138 146 <a
1
May 22 2VJau. 17
2V 6
61
32
41 'a Jan. 19 88 Anif. 5
83
18-^ May 29 21)34 Ant;. G
12
Mar. 6:
2iV-'*Iar. 11
4
I'a 16V
34
16 Juue23 19 Feb. 20 14
60
18
15 May 1 27 AOL'. 7
39
17 V May 8 21 Feb. 2.-.I
30 Apr. 30 3934 Jan. 8 21V 60
86 V
70
79 .May 12 87 V Jan. 10
32 3x
15
18 July 31 24 Feb. 27
80
77 V Feb. 7 86 Anit. 7; 63
7934 Jan. 2 108 V Auk. 1, 76 V 99
11
9
7 JanelB
9 jHiy2l
9VApr. 8 14', July 23
5V 33%
41 Mar. 21 65V July 18| 28
Au«. 11 15
15 Jan. 10 21
534 July 28|
4
2
Apr. 80
eVMay 7 14 Jan. 12| 9 IS'*
60
16V lOV
I1DC3
June
10V>fay
7
147
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I,nnt»
134
4 '8 Jan. 27
14 July 3
15 Jan. 17
36 V Jan. 29
V June 3
71 130 Jan.
87 V Jan.
870 48 Jan.
80 104 V Jan.
100
20
8
2 176
7
6
175 Jan. 2:190 May
6'4Apr. ll' 12V Jan.
29.1
,
94
IIV 38 >a
I
93', 93 'a
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70 »«
79
79
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47 »4 18
47 V
128 V 1'27V127'6 127 V
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4
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21
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121V 123V 124 125
67
68
21
107 V 104
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47
48V
19
05 V
28
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78
17
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33
82
63
63
77 V 78
47V 48
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91
91
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140
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11^
83 V 83 V
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81
21
81
21
28V
8V
24 V
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108 V 106 V 107 V 106
«9V 11
63
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19
81 34
106
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47=4
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18>4
65
lOV
7V 20
4
83
400
310
lov lov
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,
7V
3,500
65
special
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92-8
-9
10
126
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43
43
43 V
18
18V 18's 18^ 19V
13V 13V
16 V It'* "ie" "le
'titliiental..
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01
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31V
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pref
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4
>,
30
125
•61
V
9634
7V
1536 16
31
32
20 V 20 V
10 V
64
I
117
6V
84
78%
137
103
«1V
11*
80%
liH
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'V
1
s
M
130
139%
3
May
'J-t,
,
38
-
11
IB
14
»
—
1.
.. . ..
.
QUOTATIONS OP STATE AND RAILBaAD BONDS,
STATE BONOS.
SECORITIES.
8b, 10-208,
OS's
.
1900
Funding, 189i-95
Hannibal A St. Jo.,
13
13
13
4
103
& N.O. RR
& R. R. RR.
7b, L. R.P.B.
7b, Miss. O.
Arkansas Cent. BR.
eorsla-68, 1886
7B.1886
New York-68, reg.,
6b, loan, 1891
6s,loan, 1892
1893
N. Carolina— 6s, old, J. <fcJ
Fnndlne act. 1900
6s, loan,
1021a
111
1890
20
Wil.C.&Ru.B.
"87'
Consol. 4a, 1910
118
'SB.
1887
I
New bonds, J.AJ., '92-8
Special tax, all classes.
Do
6s,
7, 1885.
8E0UBITIB8.
SEODBITIBS.
N. CaroUna^Continued—
AsyrmorUniv.,du6'92 112
10
6
13
AUKUST
77
63
Bx-matnred coupon
101'MiBSOuri— 68, 1886
6»,rtne 1889 or 1890... 108
1
[ToL. XLI.
Bid.
93 Hi Loolslana— 7fl, ^on8.,1914
103
90
106
Artonsas— 6s, funded
7a, 1. Hock & Ft. 8. las.
7s, Memp.cfcL.BockRB
SECURITIES.
Aak
Bid.
bama-C'lasB A, 1906.
ClasB B, ^9, 1806
Class C, 4b, 1906
7a, gold.
——
—
—
-
.1
THE CHKONICLE.
168
7s,
.
Tennessee— Continued
Ohio— 68, 1886
South Carolina—
6s, Act Mar. 23, 1869
nou.fnndablc. 1888.
I
3^2
3V4
i
Brown consoru 63, 1893 107
Tennessee— 69, old, 1892-8
8b. new, 1892.8-1900 ---
—
68, new aeries, 1914
C'mp'ml9e,8-4-5-68,19l2
Virginia 6n, old
6s, new, 1866
68, consol. bonds
68, ex-matured coupon,
68, consol., 2d series
68, deferred
112
103
1919
I02>a
104
112
115
117
30
10
AslC
4ti
Registered
48
VundingSs. 1899
Bid.
Ask.
48
Si%
55 '4
40
40
80
47
50
.10
6
District of Columbia—
3-65S, 1924
47
4712
471..
B-a
11434
110
RAII.ROAD BONDS.
SECURITIES.
SECURITIES.
Bid.
'
Railroad Bonds.
Mex. Cent,- Ist,
7s, 1911.
1st M., 7s, ex.cp.,0,7,A. 8
7s,
1900.
78 of 1871, 1901
iStock Exchange Prices.)
1st, consol. ,
Atch.T.&S.Fe-4ia8, 1920
Sinking Fund, 6s, 1911.
•1.
guar., 78..
N.Y. Lack.A VV.-lst, 6s
Construction, 5s, 1923
Del.& ilud. Canal-lst, 78
Baltimore tfeOliio—
1st, est., 78, 1891
>121
Coupon, 78, 1894
Ist. 6s, Park. Br., 1919.
104% 104^8 Be^stered,7s, 1894....
68, gold, 19:!a
iBt, Pa. Div., cp.,78,1917
08, gold, rcg
--•-.-•I
110
1st, Pa. Div., reg., 1917.
Bnr.C. Rap. & No.— l8t, 081
88
Consol., Ist, 53, 1934 ...
Alb. ASusn.- Ist, 78
Mlnn.&St.L.— l3t,7s,gu.
2d, 7s, 1885
Atl. <S
Pac— Ist,
6.1,
71
1910.
la. City * West,— l8t, 78|
C. Rap. 1. P.<fe N.— Ist, 6s •107
Ist, 5s,
98
1921
Buff.N. Y. ct P.— Cons., 6s
General, 6s, 1924
Can. So.— Isl, int. guar. 6b
2d, 5s, 1913
Reg., 58, 1913
Central Iowa— 1 st, 78,'99
East. Div.— Ist, 68, 1912
1st, cons.,guar.7s,1906
l8t, cons., gu., 6s, 19U6
Sar.— 1st, cp.,78
1st, reg., 7s, 1921
Denv.A Rio Or.— 1st, 1900
Ist, consol., 7s, 1910....
Den.So.Pk.&Pac- lst,7s,
Rons.
9934*100
7734
Den.&RloG.West.- lst,6s
Det.Mack.&Marq.- Ist.Os
Land grant, 3%a. S,
E.T.VarAG.-l8t,78, 1900
iBt, cons., 5s, 1930
Ex coupons 9 to 12
Divisional 5s, 1930
lU. Div.— Ist, 63, 1912..
Chesapeake
&
Ohio
Pur. money fund. 1898.
68, gold, series A, 1908
109
102
.
6b, gold, series B, 1903
68, currency, 1918
Mortgage 63,1911
Ches.O.AS.W.— M. 5-63..
Chicago & Alton—
110
65>.j
66
23
2334
E11Z.C.&
1st, 6s,
N.—S.f .deb.,c.,e3
1920
Eliz.Lex.A Big Sandy— 6b
Erie— 1st, extended, 78...
2d, extended, 5s, 1919
3d, extended, 4 %s, 1923.
4th, extended, 03, 1920.
6th, 78, 1888
72i
.
116
122
La. & Mo. Hlv.— 1st, 73. 116
119
2d,7a, 1900
Bt. T>. Jack. & Chic— l8t 120
1st mort.,7s, 1893
Sink] up fund, 6s, 1903.
1st, cons., gold, 78, 1920.
Ist, cons.. Id. coup., 78 .
Reorg., l8t lien, 6s, 1908
Long Dock b'nds, 78, '93
l8t,gnar. (504), 7a,'91
2d, (360), 7s, 1898
2d, guar. (188), 73, '98
.
Buff.N.Y.&E.— lst,1916
N. y .L.E. AW.-New2d68
Miss.R.Br'ge— lst,s.f.f
Chlc.Burl.cft
&
Quincy—
Collat'ltrust, 6s, 1922.
— 135
Consol. 73, 1903
68, sinking fund, 1901,68, debentures, 1913
Buff.&S.W.— M„68,1908
Ev.
10334
<fe
T.
H.— 1st, cons.,
6s
1st, 6a,
I
125
115
105
2d, 78, 1907
Mll.AMad.— lat,69,1905
Ott. C. F.& St. P.— lat,6s
O.C.C.& Ind'8— 1st, 7, 8. 1
Consol. 78, 1914
N.O.& Mob.-lst,6s,1930
2d, 6s,
E.H.AN.— lat, 6s,
1919.
General, 68. 1930
Penaacola Div.— 6s,1920'
St. L. Div.— l.at, 68, 1921
2d,Ss, 1980
j
]-
Consol. sink, fd, 7s,1914|'
115%
Qeiierat consol.. 6s, 1934
Ohio. St. P. Miu. A Om.—
Consol. 68, 1930
lll%113
O.St. P.&M.-l8t6s,ini 8 lal
.
'
I
ITo.Wls.— Ist,
08, 1930.1
8t.P..tS.('.-lBt,ti8,1919 122
1930
1
[
122%'
Nashv.A Dec— lat, 78.
S.AN.Ala.— S.f..6.s, 1910
Loulav. C.A L.— 6a, 1931
Trust bonds, 6s, 1922...
1040,68,1924
98-a 88»4 L.Erie AW.— 1st, 6a, 1919
Ohlc.Kt.t,.&P.-lBt.con.58! 80
Sandusky Div.— 68,1919
Ohlct W.rnd.-lat.8.f.,6B''109
Lat.Bl.AM,— l»t,6s, 1919
Oen'l niort,, Oa, 1932
'lOO^i Louisv.N.Alb.AC- lst,6s
O0I.& Greeu.-l8t,68,19ie
.
Gener.al niort., Os, 1014.
2d, 68, 1926
.
Lou. N. O. A Tex.— lat, Ss
Ool.H.Val.ATol.-l8t, Ss' 71! i'76% Miinhat.B'eh Co.— 78,1909
Del. !.,& W.— 78,conv.,'92 110
120
N.Y.AM.B'h-l8t,78.'97
Mortgage, 7a, 1907
1 35 %
Metrop'llt'n El.— l8t,1908
Bvr.Hiiig..tN.V.— lHt.7a 131%13ii
2d. (is, 1899 ...
•No pnocB Friday; these are UtSBt quotations made this w>ek.
Ohlc.A
K,.lll.-l8t,s,f,,cm..t
Consol., Ist, 6S.1M34....
110% 111
1
I
1
|
.
Consolidated, 7s, 1898.. 118%
2d consolidated, 7a, 1911 -110
1st, Springfield Div., 7s,
75
lat, general, 5s, 1932...
Ohio Central— lst,6s.l920
Ist, Term'lTr., 6s, 1920,1
1st, Mln'l Div., 6s, 19211
OhloSo.— Ist, 6a, 1921....1
1
I
I
I
Tol.P.AW.— lat,7s,1917
Iowa Div.— 6s, 1921
IluVpolis Div.— 6b. 1921.
Detroit Div.— 68, 1921 ..
Cairo Div.— 58, 1931
Wahaah— Mort. 7s, 1909
87% 88
Oreg'nA Cal.— l8t,03,192l!
79_
83-4
Or.ATriin8c'l-6s,'82.1922;
Oregon
Iml).
Co.— 1st,
68.1
Oreg'nKR.ANav.- lst,6s 112%
Debenture.3, 7s, 1887 ...
Panama— S.f.. 8ub.6s,1910|
Peoria Dec. A Ev.— Ist, 63'
Evans.Dlv.— lst,6s,1920
101
97
90
90
85
101
.
9834
74
105 14
Ill.A So.Iii.— l«',ex.,6a
Union Pacific— 1st.
99
Mut.Un.Tel...S.fd,68,1911
68..
115%
(Ijitertut pat/"l>''- if ftrned-^
95%
Atl.APac— Inc.,
Collateral Trust, 68
Gr.BayW.A St.P.-2d,lno.
C.Br.U.P.— P.C.,78,'9o
At.C.AP.— lst,6s,1905
112
Ill
Trust t'o. Iti'celpts
Leh. A Wtlkosb.Coal.— '88
95%
91
101
3914
7» 1913
t
39%
cp.
exAng.
cp.
ConponB oir.
99
117'
1
>
100
100
16
14'fl
15--«
1H%
19
20
72"
W.— Inc., 7s,'9a
16
12
Sand'kv Div.— Inc. ,1920
..>
15
Laf.Bl.A"Mnn.-.Inc.,78,'99
Mil. L. Sh.AW.— Incomes
Mob.A O.— Ist.prf .,deben,
54
58
35
'26
2d, pref., debentures
3d, pref., debeuturea.
4th, pref.. debentures.
N.Y.LakeK.AW.— Inc..68
3%
Ohio Cent.— Income, 1920
Mln'l Div.— Inc.,7 3.1921
OhloSo.— 2d inc., 6a, 1921
PeoriaD.A Ev.— Inc., 1920
Evansv.Div.— Inc., 1920
Roch.A Pitt8b.— Inc..l921
Rome W. A Og.— Inc., 78.
21
30
•Ml
60
27
45
105 107 tj
•91
92% So. Car. Ry.— Iuc,68,1931
10314103=8 St.L.A. A T.H.— Div. bds
108
FREE LIST.
on •52%
62 %! 52 14
39%' 41%
Ter. 68..
Aug.
Pitts.C.ASt.L.-.l8t.c.,7B
1st. reg., 78, 1900
2rt
102
114
96 14 97
97 %l 99
Gen. mort. A
Pennsj'Ivanla RR.—
Pa.Co.'sguar.4%s,l8t.cp
Pa. Co.'s 4 %3,Reg., 192
1
95
91
92
10436 105
109% 111
99 jlOO
CoOBol., 6s, lOO.'it ....
Income Id. gr.,reg.
A
Lake E.A
lo\
...
E.T.V.Aaa.-Inc.,6s,1931
'Ill
98%'
*103%i
At. J. Co. A W.— 1st, 68
Greg. Short-L.— 1st, 6s
Ut. So.— Gen.,78, 1909
Exten., 1st, 78, 1909
Mo. Pac— Ist, cous., 68
3d, 78, 1906.
Pac. of Mo.— lat, 6s...
2d, 78, 1891
8t.L.A S P.— 2d,6s, CI. A
68, Class C, 1906
6b, Class B, 1906
1st, 6s, Pierce C. A O,
Epuipment, 7s, 1895..
Gen'l mort., 6s, 1931..
So. Pac.ot Mo.— Ist, 6a
Tex.APac— Ist. 68,1905
68,
112
1910...
Central of N..I.— 1908
Ind.Bl. AW.— Con., lnc.,6s
Ind'sDecA Spr'p— 2d,lnc
5s. 1907
1st, 63, '95
lat, consol., 6s,1919.
Do
81
INCOME BONDS.
Landgrants, 7a, '87-89 10714
Sinking fund, 8s, '93.. 121',
"
|122
Beg., 88, 1893
Rio G.,
...
I
95
115
1st, 68,1896
Denv. Dlv.6.3,as.s.,'99
123-1
ext.,78.
Ist, St. L. Dtv., 7s, '89,
2d, ext., 7a, 1893
Equliun't bds, 78. '.83.
Consol. conv., 78. 1907
Gt.West'n— 1st, 78, '88
2d, 78, 1893
CJ.ATol.- 1st, 7s, 1890
Han.A Naples— 1st, 7s
-
So. Pac. of Cal.— lat, 68
So. Pac. of Ariz.— lat, 68
So.Pac.ofN.Mex.— lst.,6s
Kans.Pac. —
i,„„.
106%
Tol.A W.— 1st,
PeorlaA Pek. U'n— lst,6s.
Sl.L.K.C.AN.— K.e.,7e
Omaha Div.— 1st. 7a,
Pac.BR.— Cen. Pac.— G.Oa 113% 113%
105% 106%
Clar'daBr.-6s, 1919
San .Toaquin Br.— 6s
98%'
Cal. A Oregon— 1st, 68
St.Cha8.B(;e.— l8t,6s
98% 99
Cal. A Or.— Ser. B., 63.
No. Missouri— 1st, js..
Land grant bonds, 6s. 10434 106
W^est. Un.Tel.— 1900, coup
West. Pac— Bonds, 6s.. 109-4 109%
1900, reg
No.R'way (Cal.)— 1st, 68 109%'....
N.W. Telegraph— 7s, 1904
!
1
....*.---
June— 1st, 68, 1922
Pitfsb.McK. A Y.— 1 st, 6s
Rome W.A O^.- l8t,7s,'91
Con., lat, ext., OS, 1922.
Roch. A Pitt.— 1st, 6s, 1921
1
Do
Consol., coup., 1st, 78.
Consol., reg., Ist, 7s ..
Consol., coup., 2d, 78..
Con.sol., reg., 2d, 78 . .
Long Isl. RR.— Ist, 7s,'08
I....
1898
Cleve.ATol.—lst,6s*105-<.
—
Lake shore — Div. bonds.
|....
I....
II22
11
2d, 7s, 1898
2d, guar., 78,
Pitts.
Pitts.
I
DetM.AT.— lst,78,1908
Conaol., 78
Ccciliau Br'cli- 78, 1907
;
I
AW. Plgeon-lst..
Ist, con.sol, 5a, 1931
Loulsv.A Na.ahv.—
132
1912
Clev.APitts.- Con3.s.fd.rl27
4tb,8. fd.,6s, 1.S92....I 110
'
I
105%
Ft.W.AC.—lat.7a, 130
Pitts.Ft.W.&C- 2d,78 135
3d, 7s,
i
I
124
Ask.
111
I....
74 3< 75%
118
7a, 1909
108 110
1"!
1891
I'-v--90% 93
S'thw.Ext.-lst,7s,1910 112 ill2%
Conaol.. Ist, (;s.l9-22t...
67
57 Hj
Rlch.AAlleg.-lst.,78,1920
Pac. Ext.-lst, 6s, 1921.1 105
7814
Trust Co. receipts
Mo.K.A T.— Gen'1.0s,1920 78
,„„,
General, 58, 1920
Eich.A Danv.— Cons.,g.,68 103% 103=4
IU934 110%
74
Debenture 6s, 19-27
Cons., 78, 1901-5-0
108.2
70
Atl.ACh.— lat, pr.,7s,'97 114
Cons., 2d, income, 1911.
90
Incomes, 1900
H. & Cent. Mo.— Ist, '90 108
35
107
103
Mobile A Ohio- New 6a.
Scioto Val.— 1st, cons., 78.
ll.'fi4
78.
CoUater'l trust, 6s, lS02i
Iron
Mt.—
1st,
L.
A
St.
110
lat. Extension, 63, 1927
2d, 7s. 1897
Arkansas Br'ch— 1st, 7s 109%
Morgan's La.A T.— Ist, 63 97 101
*105
110
Cairo A Fulton— 1st, 78., ,109
1st, 7s, 1918
,,
108
Nash.Chat.A St.L.— lst,7s 120%
Cairo Ark A T.— 1st, 78. 107
74%
Gen.r'y&l.gr.,6a, 1931
2d, 68, 1901
St.L.AltonAT. H.— l8t,78l ..-N. Y Central— 6s, 1887... 106 I...
'101
106
14'..
Deb. certs., ext'd 58
2d, pref., 7s, 1894
"
101 102'»
N.Y.C.A K.— Ist, cp., 7s 132% 133 14
2d, income, 78, 1894
Bellev.ASo.Ill.— 1st, 83 ,,,
1st, reg., 1903
106
St.P.Minn.AMan.— l8t,7s HI
Deb., 58, 1904
•--,
Harlem- Ist, 7a, coup .. 136% 138
2d, 68, 1909
107%
137
Ist, 78, reg., 1900
Dakota Ext.-6a, 1910.. 114%
"112
N.Y.Elev'd— Ist, 7s, 1906 121%!
1st, consol., 68,1933
N. Y.P.AO.— Pr. I'n, 6s,'95
1st, consol., 68,reg.,1933
N.Y.C.AN.— Gen.,6s,1910 4114 42% Min'sUn.— 1st, 6a, 1922
41
42
TiTist Co. receipts
St.P.A Dul.— 1st, 5s, 1931
105%.
N.Y. A N. Engl'd— lst,78t
So. Car. R'y.-lBt. 6s, 1920 1
l3t, 6.3, 1906.
2d, 6s, 1931
8234 S3% Shenand'hV.- lat,7B,1909
N.Y.C.&St.L.-l8t,6s,1921
62% 2d, 68, 1923
45
General, 6s, 1921
N.Y'.W.Sh.ABuff.— Cp.,5s 423b| 423< SoduB B.A So.— Ist., 5a, old
42
Registered, 58, 1931.... *41
Tex.Cen.— lat, s.f .,78,1909
109
N.Y.Susq.A W.— lst,6s.t 61
Ist, 7s, 1911
98
Debenture, Os, 18971...
Tol.Del.A Burl.— Main. 68
89 %1 90
Midland of N. J— 1st, 68
lat, Dayt. Div., 6s, 1910
1112
N.Y.N.H.AH.-l8t.,rg.,48
1st, Ter. trust, Os, 1910.
N.Pac. — G.l. gr.,lst, cp.,6s 10539105% Tex.A N. O.— Ist, 7s, 1905
Registered, 68, 1921.... 102 14'....
Sabine Div...lst,6a,1912
N.O.Pac— lst,68,g.,1920t *5934'.... Va. Mid.— M. inc., 6s,1927
Norf.AW.— Gen., 6a. 1931 93 %j 95
Wab.St.L.APac— Gen., 63
New River— lst,6s,1932
Chic. Div.— OS, 1910
119
.OhloA Miss.- Consol. s. fd
Hav. Div.— 6s, 1910
.
133
105'
2d, 78,
.
125
.
lowa-Ext.- 1st,
.
Des M.ctMiu'ap.— l8t,78
Iowa Midland— Ist, 88
Peninsula- 1 st, conv.,78
Chic.A Milw'kee— l8t,7a
Win.* 8t. P.— lst,73,'87
Bid.
|
St.L.V.AT.H.— l8t,g.,78|*118
Mich. Div.— Ist. 6s, 1 924
I
Kal.
Pitts.
9o
13634 Mlnn.ASt.L.-l»t,78,1927 *123
way
Sink, fund, U8,1929,r6g.
117%
Sinking fund, 5s, 1929
106%...
Sink, fund, .)s, 1929, leg
eink'gfd.ileb.,58, 1933. 102
103
25 ycora deb. 68, 1909 ..
102
Escanaba*.^ L. S.— l8t,6s 108
SECURITIES.
Penn.RR.— Continued—
100
1884-1913
Mll.L.S.iftW.— l8t,(is,1921
Mt.Vem'n-lst.Os, 1923 ....
Fl't&P.Marq.— M.68,1920*113
98% Gal. nar.A S.Ant.— 1st, 68 *105
100
97% 2d, 7s, 1905
91
Plain 48, 1921
West. Div.— 1st, 6s
O.R.i.&P.-68, cp., 1917. 130 131
2d, 6s, 1931
130
6b, reg., 1917
Or'uBayW.ASt.P.— lst.68
Ext. & Col., 58, 1934.... 110'«110% Gulf Col A S.Fe—7s, 1909
Keok. & Des M.— 1st, 5s 109
2d, 6s, 1923
Centra! of N.J.— 1st. '90 1. 112%114
Han.A St.J.— Con.68,1911
l8t,cous.assent. 78,18991 lu3 1104
Houston A Texas Cent.—
Conv., assented, 7s, 1902 103 104%
l8t, M.L., 7s, 18911 ....
Adjustment, 7s, 1903...
l8t. Western Div., 78t..
61
Conv. debent. 68, 1908..
68
1st, Waco A No.,78i....
67%'.
98
Leh.&W.B.— Con.g'd,as. 97
2d, consol., main line.Sa
Am.D'k&Imp.— 5s, 1921 83%; 84
2d, Waco A No., 88,1915
Chic. Mil. & St. P.—
General, 68, 1921
131
l8t, 8a, P. 1)
Hou»t.E.AW.Tex.-l8t,7s
121 126 "i
Sd, 7 3-108, P. D., 1898
2d, 68,1913
120
lat, 78, $ g., B. D., 1902.
Ill.Cen.-Spd.Div.— Cp. Os 115
118 119
iBt, LaC. Div.,78, 1893
Middle Div.- Beg., os
119 120
1st, I. AM., 78, 1897..
C.St.L.AN.O,— Ten.l.,7B
120 12s
Ist, I. <fcD., 78, 1899...
1st, consol.. 7s, 1897..
127 129
Ist, C. A M., 7s. 1903..
2d, 6a, 1907
124 125
Consol. 78, 1905
Gold, 58, 1951
lst,7s, I.&D.Ext.,1908
123
Dub.A S.C.— 2d Div., 78.
Ist, S. W. Div., 6s, 1909. lis"
11434
Ced.P. A Minn.— Ist, 7s.
99
iBt, 5s, LaC.ctDav.,1919
Ind.Bl. AW.- Ist, pref., 7s
lst.B.Mlnn,Dlv.,68,1910
113
lat, 5-68, 1909
i2i3' 121
let. H. ,t D„7s, 1910..
2d, 5.6s, 1909
Chlc.A Pac. Div.Os, 1910 115
Eastern Div., 6s, 1921
1)H
l8t,Chlc.& P.W.,5s,1921
98
Indianap.D.&Spr.— l8t,7s
9;j« 98I4
Mln'l Pt. Div., 58, 1910.
1st, 7s, ex fund, coups.
C.&r., Sup. Div. 53.1921 100
Int.A Gt.No.— lst,68, gold
Wis.* M in Dlv.58, 1921 97
Coupon, 68, 1909
93%
Terminal 08, 1914
Kenfky Cent.— M.68,1911
Ohic. A Northwest.Stamped, 4 p. c, 1911
Consol. bonds, 7s, 1915. 13634 l;!8
Lake Shore A Mich. So.Coupon, gold, 78, 1902.. 129''4 130
Cleve.&Tol.— N. bds.,78
Regisfd, gold, 7s, 1902.
129
Cleve. P. A Ash.— 78....
Binkiugluud, 6s,1929.. 115%'....
Bnft'.A Erie— Newbda,7s
104'-ti'
Div.— S. fd., 5a, 1919 >106
Sinking fund. 4s, 1919
Denver Div.—48, 1922..
la.
41%l
125%'
110
40
Mlch.Cent.— Con8.7s, 1902 125
Consol., 5s, 1902
'108
63,1909
Coupon, 53, 1931
Registered, 68, 1931 ....
Jack.Lau.& Sag.— 6s,'91
Milw.A No.— Ist, 6a, 1910 90
2d, 7s, 1891
Bonds,
SECURITIES.
Ask.
& W.—Coutlu'd—
Morns A Essex— Ist, 7b.
Del. L.
29% 30%
36
50
Cln.A Sp.— lst,C.C.AI.,78 108
108
Ist, g., L.S.AM. S., 7a.
Col. Spr. A Cln.— 1 St. 7s
Cum. A Penn.— l8t,6B,'91 102
103
2d, 68, 1888
no
70% 71
Col.(^:.AIr.Co.— lat,con.,Rs:
7034 71
Ft. W. A Denv. C -Ist, 68
7B
Gal.lI.AH.of '8»;— lat. 5s. •60
9t>
--Ijeffitrsou.- 1st, 7s,1889..!
Meni.A C- -1st con.T. L.78 114 % 117
1
'Pllll..frlV-2.1 ser.'t«.19:'3
I
1
.
AvausT
.
THE CHEONICLE
1R85.]
8,
EAKMNUH
BAILKUAII
-"
and the
>riiinf(8
'
N«w York
totals
from Jan.
1
to
169
CItjr
Bank*.—The following •tatement ahowii the
Banks of New York Oly for th«
condition of the Aaaociated
week ending August
IlltcM
irntngt Jteporltd,
Jan.
1 to
A1«. Ot. ooMth'n iJiino
1884.
S
$
.
UH.OI
.
2.'.
1885.
ll ^.
BanJu.
1884,
M0.610
70.719
I
1888:
S
• -""
ft27.:itl
-
7.8?.^
I
lino
7..'H
10,1,1.
Jiilj-
."ss.'ino
41.6^1
7.968
1,519,160
1,36.^,927
SOl.OiMi
177.1100
2.),300
23.835
1,082. IIJ^ 2.111,583
1,212.827
2.617, iVi
651.39(1
7711, ..'O.'i
7.S30.39H
1.566,415
8,19li,7.i2
9.8T2
1
1
li
May
21!).,%J2
257.262
litiio
52,761
.IR.O.'ifi
lino
Il3,.'l«l
01.276
I
I
lino
iiliwkJ'ly
I
Juno
JMv
^Col.C.A
liliwlt J'lv
703
Juno
&
A
.
Iiiil
A Nor
id
Juno
till
wk J'ly
.lUwkJ'ly
itUwkJ'ly
LL:
b.A-
E.Tonn. \ a .vnt. ,\hiy
Kviinv. * 1'. n. 4tUwkJ'ly
KIlTit A p. Marn. ;M wkJiily
A
adwkJuly
QnindTnink ...IW'kAug.
Gr.BuyW.ASt.P.'Juno
A
S. Ke J une
Gulf Col.
Ill.Cent.(lll.A8o) IthwkJ'ly
Do (lowii) IthwkJ'ly
llnd.Blooni.A W. 3d
K.C.Ft.8. A (iulf 3il
Kan. V. 8p. A M. 3d
Itong laliind
La. A.Mo. Kivir
Lnuleiunn Wost.
Itli
May
Loolsv.A Na.«liv. 1th wk J'ly
Uar.Hougb. AO.
wk July
ith wk J'ly
JMexioan t'l-iit
M
.
oMex.N
I'lno
.th
wk J'ly
Milw..
14.424
40,180
163.333
IthwkJ'ly
Htnu. ,v..-i.i... II- .luno
Mo. Kan. A iVx 3 wka Jul)
Mil.I..>
A Gt. .NO
Mobile A Ohio..
Int.
i
.
370.lst2
wkuJune
July
Morgan's I. :i. AT. .May
Naafi.Ch. A^t I, Juno
"' '. ' "
.Tune
May
I
"<
lane
.
N. \.
f;i
.V
W
N V
=
nine
N
1
'
Inly
N
r'
1'
—
^
,
.
'
.
((hi. V
1
:
iiio
1.
il
July
iJune
IstwkJ'lv
111.
.'June
Or..K-..i. liiii..i:o
Juno
(Jill.
.-..
1.
I
"
-
••
May
1
29,081
119,076
429,372
119.810
129.323
•236,.i27
161,957
31,821
221,769
Inly
HlO.Ti;.')
- .^
.
10
1,318,7:10
l,2;i:i,l2l
1,207,677
898,661
l.'209.(i2,j
»07.t;(ii
.... ..
wk J'lyj
.
Qreenwloh
Leather ManaTra.
BeTonih Wrtril
8Ute of N. Y
10.:
1,004.111)0
2.11().«i)0'
2.(!0e
;i92.80«
(1(11
4 1. 500
Amerlo'n Rxcli'go.
Commerce
Broudway
'10
Mercantile
10
Paolflo
Repabllo
5,6811,41)0
I'l
l,5'ja,-20l)
Chatham
Hanover
7,811,S|)0
3..189.700
2.187.000
2.806.700
2.142,700
362.11S)
172.H3.->
1.550.109
107.971
1,034,253
Com
i,33i,7.->:t
Continental
549,255
211,396
562,•27.^
231.106
1,187,389
9,612,511
770,47.'i
5,487,8
U
1,21.5,126
028,707
1,202.119
1,371,600
l,'272,»il4
896,3'20
697,017
377,169
215,284
2'36,94'4
14.5.177
152,164
1,501,828
18.'.,176
241.134
7,88(i.l93
367,152
2,143,696
213,9:14
21.3,137
Exeliaiixe
...
Orleutal
(mportors'A Trad.
Park
North RlTor
East River
Fourth National..
Central National..
Second National..
Ninth National...
First National....
Third National...!
N. Y.Nat. Kioh..
Fifth Avenue
German Exch'uge.
...
United States
Lincoln
1,611, so:i
Fifth National....
B'k of the Metrop..
833.519
29,%.26.^
632,137
835,5S2
3,751,987
1,10'..709
1.121,20(1
l,22i,.200'
Qennan-.Viueric'n.
Qermania
,
1
Seahoard
I
Sixth ISatlonal....!
4BH.000
483.100
:,/ 10,100
,1)71,100
1.716.200
3,439,000
4.757,100
6.090.000
42:1.(100
2,'-"24.10O
l.POO.IW
2l,7t;» 000
2,472 900
271,000
I6l„100
2,740.000
24,l.^6,70O
4 '2,000
219.700
23 1,900
340,100
293,900
241,100
600,000
1,14"),181
820,357
198,115
845,523
451,928
187,3!I7
1,124,427
116.219
2,597.771
999.732| 1,922,438! 5,606,162
42,26l|
98,163
1,421,101
2,620,255
7,003,021
l,8I0,.lV5
27,392'
201.775
278,5161 1,363,227
63.071'
603.801
179.300
221.000
180,000
2.433.500
2.87.S20O
45,000
3.6((9.400
2:l.%30(>
1,131.800
161.800
3.263..10O
3 2 -(.000
l;ii,ooo
3,052,400
4H0.100
170.400
198.300
921.300
1,108,.300
211,1100
1.301.800
1.258.S0U
239,000
128.700
3.166.700
1,216.800
1.233.80O
4.119.000
1.880,700
1,651,400
1,838.200
140.500
429.700
455.100
198.100
633,501)1
weeks
180,000
14,800
177,000
186.01)0
193,000
9.676.200
past:
1,427,938
1,5H,914
6(i,973i
iib'soi
180.000
237 ,000
33.40e
13 000
123.900
2,'260,300
Loans.
188S.
L. Tendon,
apeeit.
ZKposits.
IO(n!ulat<oii|Jm. CUar'tt
s
s
$
Jnlyl8'307.6i7.700 116316200 45,198.10') 3S7.883.300
" 26 o08,H3,SOI) 1157:13400 44.876,200 383,06.3,700
A'g. 1 :iOH,:lfl3,90U 115433900 44,980,600 3S3.O01,6OO
»
.
167,912
82,970
177.902
416.635
989.uua
45,000
5,123.600
1,210.400
24.1,500
totals for several
310.200
3.;i45.0O0
6.308.99(1
18.(>82,700
782.f;00
2,154,200
821,200
3.097,000
2,646,300
2.299.800
The following are
43i'.:oi
2.071.000
»»3.000
17.822.600
9.809.000
84^.000
428.000
2J3.300
608.200
403,400
621,000
981.100
679.200
150.000
373.700
'233.700
......400
'306,309,900 118493990 14.980.600 383,001.600
Totol
i8o.ooe
22 1.700
10
.
1,32.1,800
1.16rf.300
West SMe
10
:.9!(2,9,')0
3.8U4.-,;()0
2,004.400
1.971.800
2.474.20O
2.679,400
2.830,100
1,H05,900
I,7SO,900
2,637,800
2,501,500
1,310.000
Chase National...
OarDeld
318,999
661,131
915.304
3,272,931
l,4.'i3.2J)0
16,56-<.Bi)0i
Bowery
N. Y. County
7,616,319
431.013
811,90(1
1,011,775
1.603.123
l,027,2lB
Nicholas
A Leather..
St.
8ho6
46,00«
lOl
931.200
502.100
197.300
2.XO2..300
442,400
1.775,900
270,800
2.H3!).000
71H.00O
6,:l()l,5ijO
708.800
4.6 -"2.100 1.830,100
1.733.500
200,100
18,401,700, 7.125.K00
17,617,700 6,472,900
1,857,000
198.000
1.079,500
205.000
18,816.200 4.963.S00
7.598,000 •2.877.000
8B3.001)
2,377,000
Nassau
Uarket
612.183
401,788
*1, 476.653
409,090
776,9.17
497,5.S8
JO
.'.7
Irvlnif
Cltlxens*
208,872
1,661,069
300,092
328.000
Boston Uank8.
A'g.
151.681.900
1
S
I
9.737.900 871.843,321
9,701. 2(10|&4-.434.0l7
9,675,200 530.001,488
Devotitt* OinulatUm dog. Ctear'tt
L, I>nd«r<.|
S
JnlylS 130,470.700
" 26 I50.«ai.600
1
—Following are the totals of the Boston bantc«:
Specie.
1886.
$
9.365.900
8.817,000
8,889,100
$
$
I
5.031.30(1 i;2.422.900 21,792,100
S,l»1.7()OlH2,3rtl,5OO!2l,rtKS,80()
6,032,400; 11 1.691, 800 21.650.100
Philadelphia Banks.- -The
*
68411.151
58.612.678
55.701,301
totals of the Philadelphia
banks
are as follows:
3,91 6.171,
1885.
Loans.
Law/u) Manen.
$
$
DtpotUt.' lOtrcutafkm. Ag}. Clear'tt
18.8.'-.7i
269,943 2s»2.368
2,428,294• 2.11H.764
—
'
I
I.
I,2.jj.(li»0
785,600
^Si'*""
723.300
193..'.00
17,173|
J
A Tr..
»ASi.2im
1,277,653
7,671,060
2,647,720
1,587,860
72.069
28.876
222.142
118.321
408.0
3,735.638
lO
Moiitiunlc.H'
3,607,900
I.ISI.IOO
328,110
153.142
90,222
M
Peoples'
1.542.520
'90,ooi
Faltnn
Olio.vi<-.i
North America...
383,192
iiii'.iiot
10
10
10
i/iii'l'
8^.''3li
2.916.9 10
588.905
5,862,216
872.239
.110
City
Tnuletmen't
251.179
1,167,223
8,534,735
iiifiU
iilO
-K)
..10
1,793,8(12
3,265,857
429,846
10J,90«
4M,M*
nno
Vulua
Amarloa
Phaaix
94,8,54
I
I
•, „...
.1)0
256,950
21,319,513 23,333,219
379,791'
420.093
I.482.199I 1,616.811
2.710.201I14.218.66>
1.320,098 1,0-I3„t,57: 6.636.132 7,033,919
Inly
269,000 250,923 2,121.573 2,078,025
line
38,299'
42,745
379.021
357,893
liiue
30,974
28,11H
317.788
298,851
...... Juno
40,221
304,222
260,222
38.010
d.. July
130.570 131.305'
822,728
864 010
'•ar Jnly
34,136.
36.558
212,584
225.072
35,16K
,
IthwkJ'ly'
3l.89.>
6'2,960
60J,233
V.
h82
\Iny
13.},615
608.795
133.
fi89,458
;.lwkJuly
17.993
19,140
539.655
A
V
11. ;d wkJuly
603,'208
17,193
21.217
721.36:1
I'-iieHi :id wk July
11,900
10,787
40(;,857
878,066
- .V
.'111 wk July
11.226
317,161
261,161
8,917
~
ran. Jthw^k J'ly
125.935 133,953 2.304,601 2.181.89:1
^
'1 lU'th IthwkJ'ly
47,193
619,191
613.107
39,833i
•'
Man. Ji-ly
553,31
605.156 3,671,375 1,290.107
ma., June
50,523
55.774
532,991
677.338
Ulv April
313. •<32
111.16<
95,876
390.829
Uiv.iApill
271,611
299.197 l,0.i2.672 1.010.192
\..Z'.tri
'April
115,303 175,575
636,(07
567,318
N'.w Moxioo.. .Vprll
23>',777
66.16S
68,779
232,527
T..XiW A N. O ... May
62.25;i
379, '.88
75,70 i
375,619
Tex. A St. l>ouie. id wk July
20.583
23,720
499,612
425.357
Tol.A.A.AN. .M. lune
19,«9i
20,31
104,')03
124,099
Union PiMlHc... June
1,955.3 '6 1,739.453 11,224,530 10,993.816
Utah Central ... April
52.755
70.859
2:J6.527
303.174
VlckBti'g A .viflf ijiine
3l.571|
25,29«
198.120
225.981
VIcksh.Sh APa<..'june
9.Uo!
20,501
153,318
59,116
Watv SI. I, A P.lithwk J'ly 302.313 435,8'i5l 7,830.63,'' 8,683.156
Wi'nt .1. in.-v
51i>,790
June
111.048
327.50*
112,374
WV....!!-;
21. wool
ut'lild W K July
21.641
785.812
77.1, 174
.s..
i.iMi,< niiinuitrK or Nnw Vork fouuHylviinla <k UnTu road.
111
I.
i~o thu yiNir wholly In mlsocUaaeouR receipts.
.Nut i.i I'l.i.iini; tlio tirac six days ot January, preceding time wben
l.iue
1th
June
UiiRjuue
Iron Juno
...
..
ii»0
1,551,018
1,307,315
7,094.151
2,299,989
,
Iiine
Ni.r
14.00.1
!
N.Y. ANewEntt. June
'-S. Y. Ont..v
June
1
ll,0Ui.O2l
'24,831
125,504
180,611
31,006
45,23
33,114
21,071
68,576
49.411
32.929
22.909
83.061
50.163
34.025
318,967
30.361
78,066
119.853
ll,202.188 1,281,1,57
3H7,275 424,13.1
283,5*1
271.0.57
June
c)
85.268
118.293
291.932
147,700
36.54^
232.439
32J.:liil
n
9,850
300,6 19
18,497
162,000
57,320
6,168
32.921
16,808
205.461
21,837
40,452
12.476
39,122
217,793
308,071
31,957
17,716
88.312
42.681
41,730
351.835
30,755
86.200
138,207
wk J'ly
,
(;i().:)71
4.59(t,,K0
•<l ..II
0,758
49,901
.Vprll
J
26.l;t
1:7,991
176.800
29.900
40,612
36.013
22.203
62,249
Kentucky Cont'l Juan
Lake Erie A \V. .3 wks July
I>Bk.& Ft Smith June
tWcM.RIv.A T. June
171.
24.69i>
129..'>7«
wk July
wk July
wk July
680.
20C,3S6
67.7S7
255,097
289,822
30,16b
1
1,711.2..,-,
... .._
••.
70,505
205,190
13,5iiH
K.v:i.\
>J.
Ft, \V. Mill iV Dcn.'Juue
u.il ll.ir.v 8,.\n.'May
K1..1
5621
171.231
8»,100
7,855
28.678
1B,200
278,335
19,515
32.013
wk July
'I
23,2I!<)
IR.ftVJ
liino
iJT.
)(
1,14.(100
252.«0
Jiiiio
\V
<I
wk July
wk July
'^(I
Ki.Mir
I!
-7
3>i..:
wk riy
wk Jnly
kAC Ith wk J'ly
IT. P.
316,011^
rni.(;25
'•'
3
lis
632,t»in
111
r.AISitlt.
kn>iiA( ol
•
ItliwkJ'lV
..VO. Ith
lli'b
ISI.-i,'J9',;.
•Itliwk
..fw«
,
7..'.:.
July
wk J'ly
»-k J 'Jy
i;ri
OlraU*-
riSEf,.
8.S-J
J(>;i
1;
AmetMU at-
Autrtgt
Jtoailt.
I88S.
1.
Ziotal Pali,
Jolv 18....
"
.Vug.
1.
mo
*lDcladiu)(
S
1
Unlisted Securities.— Following are
week
$
•
7.381.500
47,511,830
7.:103,300
7,281.51)0
l'J.2l3.91it
j
7(1338.800
27,391.300
7l(l)41.70.J
27.619.«00
80.150.900
27.623.900
iteiu "duo to other banks."
76.373.000
78.050.000
76,815.900
25....
1
40,286,743
latest quotations
for*
past:
I
I
SscurUlM.
SeeurlUa.
Ask
Bid.
.
'I-
I.
•
-
.
,
i
•
I
i
1
'
'
.
•
1
W
i
1
•
'
j
i
—
I
I
1
(
.
I
'•
.
'
K'.
'
}
"river t^iok p.*HH«>MM]iin.
.Voilnoiii iMiK liid. l>eoatiir,V Btitinef.ln either year.
Not Inolndlnic Colorado DlrUlon In either year
Mexloau currency.
Atlantic A Pac.-Stock....
Cent. Dlv., Ist, old
Ata. A Cnar. Air L., slock.
Mexican National
7's
mort
N. Y. M. Dn. Tei.-Stock
N. Y. W. Sh. A B.- Stock
Bank.AMeri h. Tel., gen.M
Best. U. A K.— New slock
Keceivers' c* rt
North. Pac— Uiv. boudu
North Rlv. Cons 100 v.n
Norfolk A Weat.-Iiebi.n
Ohio Cent.— Kit. Ulv., l»i
Old
H.T.A West.-8t'k.
Debentures
N.Y. A PhUadelphIa
Best.
Incomes
Ohio Cent.. 1st M.cerjks.p,
Buff.
Pref
Trust
2il
36
30
tionds. 6s
M.. or
issued..
IhI iiiort
Califonila Piu.irtc
Chic. A Grand Trunk, 1st.
N.W. dr. I'lnnk, 1st M..
2
Kdii*nn Klectrlo Light...
Fl.Woi th
Lien. C. R. St.
1st niort
62 Si
A
8't
ISouIhern
28
80
17
68
— stock
1st niort..6s
10
14
e9S
M. K.AT.— Inoome icnp
4>t
43
65
81 <a
17
88
18
83
2*(
65
I'l
73
iK
77
63 <s
9^
A cable—Stock
lei.
-Stock
20
1
Ka
'
19
1
().-n
lol. A
Col.
Bonds
,
60
3
83
18
Istmort
state of I'enu.-wet'm't.3>
14
.St. Jo. A W.. btkirustcer.
IIU
|.st. Jo. A Pao., Isl ir. car
Texas A Par.— Scrip lo84. 31
33
M-rip 18Hj
V V niv
18
Tex
6s.
44 >.
2d mort
Hendfrson Bridge—!$tock 60
Kt^ly Motor
Kaas. * Neb.. Isttr'Coer
1st mort.. OS
Po.Htal I'oL
l-s
63 >s
27 («
1st
I
SS
Denv. A Uio Grande— Cons
6s
Denv. A Rio Or.W
Georgia Pac
A Atlantic....
Psusacoia
mott
PllisburgA Western, 1st
87
93>« Postal Telegraph—Stock.
St. roL-elpts
when
9<t
18\
1st
Am. Bank .Note Co
Am. Safe Uep. psr. deb.bds
B'klyn Kiev..
3
Pref
C'ol.
109
-.)fr.by
•
A
oik.Val.
UR
...
Hock. V.ATol.com.stk
«
.Mernlm".
'Weet N. Oorollna.— Ist M.
IVlOssO.
71
18
74
IS——
81
80
:
;.
THE CHRONICLK
160
%nvzstmzut
The IsrvESTOBa' Sdpplkmbst contains a complete exhibit of the
Funded Debt of States and Cities and of the Stocks and Bonds
of Railroads and other Companies. It is published on the
i nt Saturday of every other month-^iz., February, April,
June, Angugt, October and December, and is furnished without extra charge to all regular subscribers of the Chboniclb.
Extra copies are sold to subscribers of the Chboniclb at 50
e«tUa each, and to others than su bscribers at $1 per copy.
GENERAL INVESTMENT NEWS.
Atchison Topeka & Santa Fe and Southern Kansas.— The
monthly statement of earnings and expenses is as follows:
—
^—-6 mog., Jan. to June.
1884.
1885.
2,312
2,374
$7,646,fl5
$7,227,256
4,112,327
4,110,875
June.
1884.
1885.
2,328
2,374
Milosofroadopcr'd
$1,254,029
$1,218,771
Oross earninzd
801,533
661,435
«p. exp., excl. tax.
,
Net eamlDjre.
.
$557,336
-
$452,495
$3,114,928
$3,535,910
Boston & Lowell.— This company received proposals till
Aug. 6 for $500,000 on 20-year 4 per cent bonds to date from
Sept,
1,
1885.
Central of
[Vol. XLI.
Jhe other, to run for twenty years, and providing, among other
hings,tbat the Chicago Burlington & Qulncj; and Chicago & Iowa railroad companies shall devote one-half of their estimated net earnings
annually on all bnslness to and from the Chicago Burlington & Northern
to the purchase of Chlc;igo Burlington <fe Not thern Ist mortgage 5 per
cent bonds at not above 105 and accrued interest. In case they cannot
be purchased at that price, a sufflcient amount of bonds to ahsorli tha
fund shall be drawn by lot and paid for at 105 and accrued interest.
The bonds, when so purchased or drawn, are to bo converted into the
capital stock of the Chicago Burlington & Northern Railroad Company
at par, and then canceled. The Chicago Burlington & Quiucy Railroad
Company guarantees that from the time of the completion of the lino to
St. Paul the amount annually Invested In the purchase of bonds shall
not be less thnn iflOO.OOO.
The length of the new road will be about 360 miles. The capital stock
now to be issued is fi.\ed at 90,000 shares, and the bonds at $1,000,000;
or $2.'>,0()0 per mile of each. It is estimated that the proceeds of these
sucuilties will be sufflcient to build and equip tlie road, and to pay Interest on bonds during construction. The bonds are to he dated Dec. I,
1885, are to run forty years from April 1, 1886, are to bear interest
at the rate of 5 ner cent per annum after that date, and are to be secured by a first mortgage on the whole 3<iO miles of road. The Chicago
Burlington & Nortlieirn Railroad Company reserves the right to redeem
the whole issue at 105 on April 1, 1896, or any conpon da,v thereafter,
before maturit3', on six luonths' notice of its intention so to do.
there have been disposed of Ijy the projei tors $1,362,000 of the
bonds and 14.172 shares of the Northern Company, and, iu consideration of the purihaso by the Chicago Burlington & Qulncy Railroad
Company of 30.000 shares of stock, an arrangement h,is been made by
which the rcmaiuing 45,828 shares and .1^7,638,0011 of the flist luortmortgage 3 per cent bonds of the Cbieago Burlington Northern Railroad
Company are placed at tlie disposal of your directors.
The opportuniij' is thfrefore now oflTered to stockholders of the
Chicago Burlington & Qnincy Railroad Conijiany of record at the close
of bui-inef 8 Aug. I."),]8s5, to subscribe, prorata, for the above.*?. 638.000
bonds and 45,828 shares of stock of the Chicago Burlington & Norlheni
Railroad Company.
New Jersey—Philatlelphia & Beading.—The
Chicago Bnrlingtsn & Northern bonds and stock will be sold together
in blocks, each block consisting of one 5 per cent fir-t mortgage bond
for $500 and three sliarcs of full paid stock of $100 each, for whlcll
blocks $355 in money shall be paid iu instalments as follows
Per cent.
answer of the Philadelphia & Reading Railroad Company and
<Teorge De B. Keim and S. A. CaldweU, receivers, to the petition of the Central Railroad Company of New Jersey that its
No.l. Oct 1,1885
20
lease may be annulled, has been filed in the United States No. 2. Dec. 1, 1885
20
The No. 3. April 1. ;886
•Circuit Court for the Eastern District of Pennsylvania.
20
20
respondents say that it is not true that they did not pay to the No. 4. .Tuly 1, 1886
20
Central Company as rent a sum sufficient to enable it to pay No. 5. Nov. 1, 1886
Average date, April 1, 1886.
and discharge the interest, dividends and fixed charges set
Holders of Chicago Builington & Qnincy stock will be entitled to subforth in the lease they deny that they failed to pay the sum scribe for one of the above blocks for each 50 shares
(or rlifhts) held.
of 1878,448 necessary to pay the quarterly dividend on the All subscriptions must be for one block or multiple thereof. Sloe kholdoutstanding stock of the Central due Dec. 1, 1884, and the ers who have more or less than 50 shares or a multiple thereof, and who
wish to subscribe for more or less than their quota, can accomplish this
^785,075 due previous to Dec. 1. The respondents further aver by a purchase
or sale of rights, any number or which may be assigned,
that they have contributed from time to time large sums of and for this puiTiose a blank form is inclosed Jierewith.
Bonds will be issued of the denomination of $l.flOi) and $!500, but the
money to the Central on account of rent, which, instead of
being used to pay interest, dividends and fixed charges, as lattoronly where the delivery cannot he made in $1,000 bonds.
No adjustment of interest will be required, as the bonds liegin to draw
provided by the lease, has been applied to the payment of the interest April 1, 1886, which is the
average date of payment.
principal of the indebtedness of the Central. This being the
No interest will be allowed on prepayments.
Bonds will be delivered at the time of the payment of the second and
case, the Philadelphia & Reading became entitled to receive
each succeeding inatalluieut, to an amount, as near as ma.v be, eijual in
the capital stock or bonds of the Central in liquidation of the face
value to the amount of the preceding payment. The remaining
principal so discharged.
bonds and the stock will be delivered when the liual payment has been
In addition to this the Philadelphia & Reading have made made.
The books of this company will close at the close of business, Aug. 15,
betterments to the leased property for which they are en1886, and remain closed until the opening of business, Aug 25, 1885.
titled to receive stock or bonds.
In October, 1884, the PhilaNo subscription will ba receiv»id after Saturday, Sept. 5, 188 i; and
delphia & Reading demanded of the Central bonds to the any portion of tlie above securities not taken by the stockholders at or
amount of $1,449,727, to which it was entitled under the lease, before that date, iu accordance with their rights, will be disposed of aa
directors of the Chicago Burlington & Quincy Railroad Company
but to tliis demand no answer was made. Under these facts the
may determine.
the respondents aver that they were not in default on Dec. 13,
Stockholders desiring to subscribe, as above, will fill out the form
1884, so as to justify the Central in giving notice that the lease attached hereto and return the same to the undersigned.
Notices of instalments due will be sent to subscribers by the Treasurer
was forfeited, and that in consequence of the failure of the
of the Chicago Burlington &. Northern Railroad Company, to whom all
Central to deliver to the Philadelphia & Reading the bonds to pityments
must be made.
•which it was entitled, the Central could not lawfully declare
By order of the Board of Directors,
J. M. Fobbes, Chairman.
the lease to be forfeited or take any proceedings to annul it
The gross and net earnings for June, and for the six
while thus in default under its terms.
The answer further says that it is true that the property of montiis ended June 30, were as follows
June.
Jan. 1 to June 30
>
the Central is being imperiled, deteriorated and consumed
1885.
1884.
1885.
1884.
without the Central receiving the benefit of corresponding Gross earnings
$1,092,485 $2,077,182 $12,372,967 $11,616,022
diminution and discharge of its debts and liabilities that the Opcr. exiiensts .... 1,221,198
1,C61,441
7,117,321
6,457,051
railroad is so related to the lines of the Philadelphia & ReadNet
earnings...
$768,237
$1,012,711
$5,155,646
$5,159,971
ing that it can be operated to better advantage as parts of a
system than as an independent line that the net results of
Houston & Texas Central.—The statement below, giving
the business since the lease have been better than could have the earnings and expenses of this road under the receivership,
been obtained if the road had l)een operated independently
is issued from the office of the Huntington Railroads in the
and that for these and other sound reasons the Central Rail- Mills Building. This statement makes a wretched exhibit,
road Company of New Jersey shsuld not be permitted to like every statement for this road issued since the default
f xercise the option of declaring the lease forfeited and enter- in interest, and the conclusion is naturally drawn that it ia
ing into possession of the leased premises.
desired to make as poor a showing as possible, to discourage
Central of New Jersey.— This company on Aug. 1 defaulted bondholders. The bad account of net income lor several
•on $175,000 coupons on the first mortgage bond§. Foreclosure years past, shown by the present managers, was made up byproceedings cannot be brought on these bonds until ninety charging numerous sums out of the earnings to betterments,
days after default. Receiver Little has sailed for Europe. Pres- and leaving only a small surplus applicable to interest thus
ident Keim of Reading and Receiver Caldwell held a confer- in the four years ending with 1884 they charge .?3. 367,51)3 out
ence in Philadelphia. The situation was considered, and the of the earnings to betterments, enough money to build more
following dispatch was sent to Mr. J. W. Watson, No. 119 than 120 miles of new road at |20,000 per mile. By the same
Liberty Street, Acting President of the Central Railroad of method, N. Y. Central, or Pennsylvania, or Chicago Burlington & Quincy, could be made to show a deficit on their operaNew Jersey
tions in any fiscal year. And now in 1885, when the most
First moriRiiKP conpnnB of FoD. 1, 1S85, liavinR been paid, the
receivers liaye din-cK-d till- payiiiL-ut of the January coupons of the
conspicuous point in all railroad operations is the saving in
coneoli<1attd biind« fn.ni day to diiy out of tlie net eMrninKci, and tuereafttr
the operating expenses, this road comes to the front with a loss of
uct revenues to l)e remitted to you to 1)e applied to the payment
of the
$94,464 in gross earnings for three months, and what saving
August eonpons of the first mortgage or sucli other interest obligation
in operating exensesV
aa you may select.
No saving, but an increase of $18,296.
Ai-iikht Fosteh, Secretary.
The growing crops in Texas are much the best that the
Chicago Burlington & Qnincy.— The following official
State has ever known, and tlie prospect for railroad traffic
circular has been issued:
the coming year is better than ever before. The bnndliolders
To the Stockholders: An crfjantzatlon Is bciu).' forn'ied by Mr. a'^'e of the Houston & Texas Central should not conclude that the
Touzaliu and assoeiates. to bo called the Chlcato Burlinston & Norillern
property is worthless and sacrifice their holdings; it is not
Railroad Coini.»ny, the object of which Is tlie construction of
a railroad
worthless it is a valuable property, and bondholders should
insist on their rights and get possession of it.
This is the best
way to make it show any income.
The following is the official statement of the earnings and
the ndvaiitafttw to be derived from the lutercliange of busl ness.
AJoim
tratjle contract will he made belweou the t^hlcau-o
xpenses of the Houston & Texas Central Railroad for the
Biirlineio
Railroad tornpaiiy and the (;lile»BO A Iowa ER. Company & Quinc.v
first three months under the receivers
on
the
one
compared with the same
Jiaud ai.d the Chiottgo Bmllugtou i Norlheru Kiilroad
Ciinpaiy
time in 1884,
:
;
—
.
,
.
;
;
:
:
—
—
:
AuoCsT
:
——
9
.
..
THE CHRONICLE.
8, 1880.1
Oprmtxng
Oron
trannpl'n
Ifet
earntna:
1S6S—
r'lrtmi'fi
»1.M,1 ,5
127.HOJ
Hari'h
Aliril
May
i:n,-':«t
»403,5B7
r»07,iia
$192.4*0
»133,R71
April
l»tl.32A
ia;t,37a
Mar
uo.yto
i2i,eoo
Totnl
188 1Miiroli
;
.1.
1
124.010
duf. 7.
161
por cent of tha earnlngt of the N«w York Pennxvlvnnm <^
Ohio, Icnmvl line, the other SJ per o.«nt of the eiirii
.it
llni' lii'liig paid iih rental.
The net eiirninga are
u'l
till- actual rtnultH to the New York Lake Erie &,
Wvatcrn
any.
ftrom Kttrnlnffit.— '^
.
ISNl HI.
Oct. 1 to
April
i|i378,S16
fll0.:36
Total
$408,052
Con)]>HrinK these resultc, there has bc«»n a deorenso in llio
gross enriiinvrs of $91, 104: an incroano in the o[*ratirin
exp«'iis> H of *l^<."'J(t, owinK to Ini-rcaRed renewal of cross
ties over last m' ir, niid a (li'iriMsi) in tlie net trnnsportiition
earnings of $110,701. The o|>eration8 of the road sincethe
appointment of tlio receivers on Feb, 33, to May 81, 188), is
Bumniari/.od as follows.
The current earninRS of the road have been :
Kroiu KroHS imnFpnrtntion earnings
f385,44l
SOS— $380,152
From niUoilliiiicoUH ri'ivlpts
Afifainst tliese earnings are chargeable the following
Hrb
31
_
f-,-, ;::—
^'r'
IH13SI.
I.
$!>.3ll7,l'i!>
1.4(111,1112
$l(),;t7l.H.l
Mar
1,481.613
1.61.^.161
:in, !1H
June
1.45I,<133
l,569,.-i67
3 1.'..
ilO
.W^.444
1,727,134
ToUl 9 mod.... $13,799,727 $15,887,20-1
$3,13.^,446 $1,109,341
Netr York I'ennHylriinia A Ohio. This (company will b«
taken out of the hands of Receiver Dick, who waa appointodat the instance of StcHenry in the Crawford County, I'ena.,.
Common Pleas ( -'ourt. The cane will be taken from the f .'ra*.
—
County Court, the receiver dismissed, and the
ford
LTnitcd'
Court will take jurisdiction of the case.
Northern Poclflc— The gross and net earnings for the flscAl
years 1884-8.') and 1883-H4 are as below; in net earnings as.
shown, rentals and taxes have not been dedticted;
• !fet Kamlnat.Orom Earnlngi.Stati-s
.
f \
1884-8.'i
18S.I.84.
18S4-8.^.
5fi3,.'.S2
$6,617,989
614,102
$3,359,569
1 13.008
869.!M14
.)20,085
1
6S,fl09
91,282
691,612
877,665
901,100
1,012,507
P7H.958
237.138
4-4H,84(l
1,441.515
1.2k7,805
1,143,123
Totatforyear.. $11.231, 119
$12,603,.'S75
;
I
,
itxiH-naes
'
$390,.^73
Tuxiss
Inlcicst (Ml Slate debt
Priucliiul ou account ot Stale debt
5l'.l3l
14,734
4,911— 475,471
$89,U19
Leavlnfc a deficit of
The
May
the receivers on
liabilities of
were
31
Eocelvcr.H' eorlitlciites Isincd
TJupaUl ai-eoiints of tlu- roiMjiverB
Duo Trustre'H ncfount of Inud sitloj
Towards which the
$2»7,8fl8
53,2*21
$5S0,l.,;i
receivers have the following
assets
Accounts duo tbeni
$1.')0.203
CiisU on blind
Showing a
267,0s).'5
61,040— 46^,34;i
compared with
In assets oa
dtflclt
reocivcni'
In addition to the above the receivers have paid for account
ot the old iiidebtedneHs of the H. & T. C. R-iilway the Bum ol
986,951, and liave received from them 8ui)plie8 usfd by the
leceivera in the current operations of the mad, ^'26,'I05. There
has been collected also for rent of grazing lands (;i hirge portion of thf annual rental becoming payable during this period
sum
No
interest
$6,627.7 1
March
AprU
Hay
JUBA
of :|37,985.
!,920,A4i(
164.809-
4::f.i
$5.a80,';48
$.").65
acres
84.5,87.')
1,050
for
f 1,704,48;), including town lots.
The Jamestown & Northern branch of the Northern Pacificha« been accepted by the Northern Pacific, and the issue of
bonds to the Oregon & Trans-Continental will soon be made.
Ohio & Mississippi. The gro.ss and net earnings for Juna
and for the six mouths from .January 1 were as follows:
—.
Jan. 1 to June 30.
J\im.
—
—
NateamioKS
—
.
188.'>.
Gross earnings
$261,201
Oporaliugoxpeusea.... 192,306
$71,895
1884.
1S8.^.
$257,135
213,695
$1,7.38.416
$13,410
$334,716
—
1*><4.
$l.795,«07
1,353,700
1,609,687
$186,210
Oregon ImproTement Company. Gross and net earnings
in June and for seven months from Dec. 1 were as follows
:
.
Gross eaminm
Operating expenses
on bonds has been included in either of the above
1883-84.
MlH :i»T
were
land sales
ISS'l-S-'i
.
$111,781
llabilUlfs of
of the year) the
to Deo. 31.
For the yeir
22!>,04'>
Casb, land ruudaooonnt
1
January
February
0,1^3
ta
I
July
Dee.
1
loJune'iO.
—
1885.
I-^Sl.
$222,442
177,019
$278..'.16
1884-5.
$l,.59l,4I9
208,099
1,290,637
l,197.73f*
$15,393
$70,427
$300,882
$t34.8U!>
18-'.1-4.
$1,932.S47
statements.
Net eandngs
Hontin^^ton SyHteni.— The earnings and expenses for June
far six monliis from January 1 were as follows:
and
-1834.-
-1885.-
June—
Qroti
earning*.
Net
Gi'osft
Set
eirningg,
earninffg.
earnings.
$59.yo6
$257.'.!6a
n. San.
$24!<,r.2l
5-i.7«l
2<>,(i78
5a,0i6
17.3-.'!)
Kentui'Icv Crurral..
Cbes. O. i& .'^nuiliw.
62.249
113.361
17.0!»3
fi8,s7a
29,012
94,278
21.471
17,U97
& Ohio.
Clieanpe.ike
Kll*. IXK.
Jan.
1
>t
$.",(!. :)i^5
date—
to
^
$444,321
$1,711,205
$387,984
32,!,<161
75.220
8B.5S3
8^,305
99,'.0«
377,169
84,!)utj
179,353
010,974
LoniHville & Nn^hville. The gross and net earnings of
this comjv-my for the fiscal years 1884-85 and 1883-84 were as
follows:
$1,566,415
316.008
Kentucky (,'<'i)tral..
883.492
C'bes. O. <<k Siiuthw.
701,623
rfae^sapealiu
< >hio.
Kliz. l,eT.
B. Sun.
A
—
OroKn Earninffs.
.
IH^t.•..-,.
$7,106,220
1,170.740
1.083,308
1,281,518
Jnly 1 to Dec 31
January...
February
Harob
AprU
l,l.%8,698
May
1,102,414
I,03i.l72
Juno
*
.
——
Earningx.
-iVa/
lS8;J-34.
1884-<i.i.
$7,794,805
1,039,317
1,015,431
1,187,738
1,125,291
1,156.109
1.032,359
$3,118,1.^6
Total for year.. $13,941,077
18-i:!
.
- 1.
$3,272,H17
803,142
302,S(U
421.1 Tn
4.56,9'*0
404.d.)S
576..1.I2
3i>l,187
3>a,29.i
47^.97i;
367,2S3
394.289
4I4,02^
$5,758,824
$^,527,327
$14,351,110
Mexican Central. The gross and net earnings for June
and for six mouths from January 1 were as follows:
—
Jutie.
.
18S5.
$i7'<.770
Grosscamines
.
1884.
OporatluK cspcnscs....
$247,248
1:9,280
204.194
KetearnluRA
$99,484
New York
Centrul
,Tnn.
.
to
River.
—
June ^0.
Ism,
$1,379,163
1,046,197
1,236..'J39
$S33,998
$142,861
$13,0.}4
& Hudson
1
1SS5.
$l,SM(>,t95
— The
statement of
and the nine
this company for the ({uarter ending June 30,
months ending the same date, is as follows:'
/— ^unr. end'y June 30—
^9 mot. ending June 30.—
>
18^5.
Ni-
..$1,724,770
ind
- .lUd
.
Int«*r>
.
Profit
Pr"Mt. iMTCcnt.
Divld. II u
Kate ulilivlilcnd ...
18«4.
1S85.
1S-.4.
$N,f03.«34 $8,361,070 $18,376,026
Oroas cnrnlnifH
Oper.expcu.^ taxes 3,878.864
4.232,257
11,819,163
$2,123,813
$6,556,881
$20.<iH,-.7ni>
13,K12,'.I.~>|'
.1!7,8:i'J,8
10
1,485.000
1
395.000
4.470,000
4.185.000
$!39,771
$733,313
$3,667.8 10
c.
$2.0f;6.861
2-33 p. c.
3,68'2,849
3 P.O.
$207,170 $1.054.7.53
$69:.,<iHS
•27 p.
c.
41.,141
•s p c.
•32 p. o
l,78-',366
2 p.
411
p. c.
5,365.618
6 p.
r.
Railroads of the United Stoles.— Poor's Manual of Railroads for 188.J is now ready, and contains the usual amount of
valuable and detailed information which make it indi'<j)ensaFrom the introduction we iiave
ble as a book of reference.
summary:
number of miles of railroad
of 1894 was 12.5,37U, of which
the following
in the United States at
3,977 miles were conbeing '-MT per
the rate of
cent. The number of miles making returns of their share
capital and funded and floating debts eijualfd IS.'i.l.'Ji against
120,-j.'32 for 1883. the increase being 4,598, the rate of increase
l)eing 3 8 per cent.
The share capital of the mileage in operation in lB84equaled'J
13,762,016,686, against !{;3,7()8,060,.583 in 1883, the increaseeriualling $54,556,103, the rate o£,increaae being about 1'4 per
cent.
The funded debts of all the lines at the close of the year
aggregated -^Ififiy. 115.772, a sum |16S,-235,aj8 in excess of the
total of 18.S3 ($:i,500,879,914), an increase of nearly 5 per cent.
The other form of indebtedness of the several companies at
the close of the year equaled ^244,66(i.590, against |368,9S5.385 for 1883, the decrease being |24,25S,689. The total share
capital and indebtedness of all kinds of all the roads making
returns equaled at the close of the year $7,676,899,054, a net
increase in the year ot $198,533,272 over the total of 1885
($7,477,86.'),782), the rate of increase for the year being about
2'6 per cent.
The cost per mile of all the roads making returns, as measured by the amount of their stocks and indebtedness, e<xualed
very nearly $61 ,400, against .$61,800 for 1883.
The gross earnings or receipts of all the lines from which
returns were received for the year equaled $770,6'^1,908, of
which $-30('i,790,701 were received from transportjition of passengers, *.")02,8(i(l.910 from transportation of freight. $7,4(U,(WJ
by lines the returns of which were so incomplete as to preclude
their ufo in the tables giving the general results— the sources
of income, amoimtof tonnage moved, etc., etc., and $53,749,997 from the transportation ot mails and express matter, from
investments, and from the sales of lauds applicable to the payment of interest or dividends.
The
total
the cla-se
structed during the year
,
KoTK.— Til
car
uiiU-.ii:--
tillH-.
«»t.vi'..r. Inr
ance
In tlic
tMirreiit ntn.' iiinni h^ tin,
iimT
!i!-
a<-i
New York
oun:.
..
iii,»iim
.;
r..,-.-i\ .-.t
I
H-
h.i--
,.r
.6»7.8.->-l
miii ]ih14 lor
tivclvas
i!;i i,.;
i-
.>i
$1
li-blt'bal-
,
Ihi u
.
.
_
,
—
.
.,
liake Erie & Western. The .statement of gross
and net earnings for nine montlis of the current fiscal year
ia given below, by months, and the gross earnings include 66
full returns were received
against $7,461 for 1883, the decrease
The earnings per mile from which
in 18HI
equalii
i..,l
$(},66:(,
i-r
mile.
the Unes f or 1884 equaled $268. IOC.3.58,
$293,307,285 for 1883, the falling off equalling
$25,261,027, the rate of decrease being about 9 per cent.
The amount of interest paid in 1834 equaled $170,694,302.
against $173,139,001 in 1883, the increase being $8,.5.55,2:W, the
rate of increase equalling more than 2 per cent. The amount
$9.'?.244,835. atrainvt
in dividends in 18S1 equaled
I)aid
$102,0.')2,.")48 in 1883, the falling otT equalUng $8,807,713, the
rate of decrease being about 8 8 per cent.
The
I
against
Dellolencv
—
increa.se
I.'
s ot all
—
o
—
'
:
THE CHRONICLE^
1B2
,
XU.
[Vol.
—
Railroads in New York State (Quarterly Reports.) The
The number of persons transported in 1884 by all the lines
following abstract, showing the operations for the quarter endwas 834,814,529, againt-t 312,686,641 for 1883, the increase for
7
ing June 30 in 1884 and 1885, has been compiled for the Cheonthe year being 23,137,888, the rate of increase equalling '8
per cent. The number of passengers carried one mile in 1884 ICLE from returns made to the Railroad Commissioners.
8,778,581,061, against 8,541,809,674 for 1883, the
increase equalling 237,271,387 persons carried one mile, the
rate of increase equalling very nearly 3 per cent. The amount
received per passenger per mile equaled 3"356 cents in 1884,
against 2-432 cents in 1883.
The number of tons of freight transported on our railroads
in 1884 equaled 390,074,749, against 400,453.439 tons in 1883,
the falling oflf equalling 10,378,690 tons, the rate of decrease
being about 2)4 per cent. The number of tons transported
one mUe in 1884 equaled 44,725,207,677, against 44,064,923,445
tons moved one mile in 1883, the increase of service performed
for the year equalling 660,284,232 tons moved one mile, the
rate of increase being about 13^ per cent.
The rates per ton per mile for 1884 of freight transported
equaled 1-124 cents, against 1-236 cents for 1883, the falling
Had the rates for
oft equalling 1 -12 mills per ton per mile.
1883 been maintained for 1884, the earnings from freight
would have been $553,694,042 in place of $502,869,901, the
amount actually received. Had the rates of 1883 for the
transportation of passengers and freights been maintained for
1884, the gross earnings of all the roads would have been
$827,525,371, exceeding by $56,840,463 the amount actually
received, and greater by $3,752,447 than the earnings for 1883.
It will thus be seen that the decline in the earnings for the
past year was due wholly to the reduction in rates charged.
Statement showing, by groups of States, the length of lines
owned, share capital, funded and other debts, length of lines
operated, gross and net earnings, and interest and dividends
paid, by aU the railroad companies of the United States for
their rtspective liscal years of 1881, 1882, 1883 and 1884:
^Albany <£ Susqueh^na
and Branches.—s
Equaled
&»
?B
\
e^n^EtjJ'
<&
C
:
s
-OS
.
^
'o
2,
c
«
'^^s'^s
•
Qo -M
oT
o
C O 1 C
.
i-'
:
'
•
o; CO oi
Ci
O to ;j o
h^ to Ci wJ
iii
Ci
I
y
c: -* H-
Mm
ji to CO
00
s
=
<£
Sar.
—
18S-1.
$-126,963
i74,397
$143,020
$133,990
$128,358
$146,181
$143,020
$133,990
$128,338
$146,181
5,085
226,610
13.185
185,569
188,666
330,782
Income, other sources
Total net receipts.
Dednctiotis
Interest on bonds*
—
$
AUtaxes*
6,764
239,808
Rentals*
Miscellaneous
lt',331
Total deductions.. $246,572
$i04,917
$231,695
$201,754
Df.$103,552 Df.$97,705 Df.$73,39d Dr.$58,738
—Long Island.
^N. Y. N. B. d- llarl.—.
Receipts—
1885.
1884.
1885.
1884.
Gross earnings
$717,948
$695,175 $1,664,362 $1,706,486
Operating expenses...
449,199
405,842
1,011,007
1,078,329
Balance
,
.
Net earnings
Income, other sources.
$268,749
$289,333
72,648
$653,355
4,629
$623,137
17,916
Total net receipts.
$286,665
$361,981
$357,934
$ii32,841
^^^'^'^^^
$163,222
$204,947
$237,873
$162,835
$123,830
$163,222
$198,759
$201,947
$453,037
$237,873
$394,968
4,684
DeductionsInterest on bonds*
]
Rentair*"*"".'""';;.""
Allscellaneous
Total deductions..
Balance
J
*Pioportion for quarter, whether paid or not.
—
W <l *. 10
C«O o
CJi
-J"
oj
erty, the Master Commissioner, A. J. Ricks, has filed his
report. The case is entitled " The Central Trust Company of
York, James M. Quigley, Charles T. Harbeck et al. vs.
Burlington Railroad et al." Captain
the Toledo Delphos
Ricks cites the history of the first mortgage and terminal
mortgage bonds, the former being given in January, 1880, and
the latter in June of the same year, and says: " The Toledo
5
5>
&
Delphos & Burlington Railroad Company having executed its
first mortgage, covering 'all the present and future to be
acquired line of railway and branches, &c.,'and placed in the
lO O' M 00 M
hands of Ballou & Co. as its fiscal agents for sale all its bonds
tSCCCCQDC
CP^OO — W
thereby secured, afterwards executed another mortgage upon
ODCO^iotC
property held and owned by it, to the same trustee, and transferred to the same iiscal agents its $250,000 ot additional
Co'b-Cl'r-OS
y< -. c" o
o to
bonds, out of which said agents retained $150,000 to reimM Cl
C.
burse them for advances made. Mr. Ballou admits that he is
still a large
holder of such securities. He is certainly not
w ^ W ^1 M
CDO^IOCO
entitled to any protection from a court of equity as such
^ ii Oi M holder. Having sold the first mortgage bonds of the mortgagor to a confiding public, representing them to be secured
Sp-U'rf''
CJ -J Ci'u»
by all the property of the mortgagor then owned or thereafter
to be acquired, he cannot be permitted to set up a superior
equity for a second series of bonds issued by the same mortgagor to the same mortgagee, and secured by the same propS>2 erty. The purchasers and holders of said bonds are likewise
charged with notice of the character of their mortgage.
J^Pr*Pi*
^ "ioMtorf*
Having the same trustee, and having the same vendor the
•-JCJIXXW
fiscal agent of the mortgagor
they were in law bound to
take notice of the character of the title of the property by
which they were to be secured. That title to be of any avad
? 3tokw'r-'i
to them under the terminal trust mortgage must have been
"S
first vested in the mortgagor.
But when so vested it immeo:
£^S
Jiensselaer
1885.
$509,S81
381,523
New
^
2
goes
Co
•5
2
'^
*^
ST
< ^i?
Ket earnings
—
1884.
$308,;i87
first
1^^
°°^
1885.
$556,099
413,079
In the contest between the
Toledo Cincinnati &St. Lonis
mortgage bondholders of the Toledo Delphos & Burlington and the holders of bonds on the Toledo terminal prop-
5^3
I
»
Receipts—
Gross earnings
Operatlngexpenses...
W ^1 C
*-
!
cc'^colo':;»
QDGO W<]|f^
I
MX
*»
«l
<-•
^
*. Cl
'^ C. 0»
ocipccj
10 to c: toes
X CD to — O
p.
O
r-LOi-'Wjj
I
toxiEk.eot-'
coulee CO
—
i-'to^;
h- xnyi
I
M *.
C-
iJ<
cc
x*»oxco
pt-
Xw
I*
*>>MtOXM
,.
««3
a
O©X o
Cl
C)
j^ 0» to W
*
;-o.^c-.x-i
w
1
I
to
OW
I
I
Xt-'XOD^O
wi U" 4- r3
p X O C 05
©"-IXtC©
XO'jy
O 'O :? c: M
^:i
*-D
-ji ;j.
».]
p
I
I
X
CO 10 c;
'-'
!
coi.'rf^x'bs
w—
WpON,p
© — a ** X
r^i t*-»f-30WM
o»
rfi.
^' Ci o
OS
Cnbb'Ci'x)
f- yt QO <I 4^
t-*
—
«
WpStcpiCJ
i
c -I w o to
I
I
COXtoU"
to
1*-
*»
o ^ X w to
cc X
ao
ii ^ CO
b
•q
i<«
H
<:£;><
!
I
p
!-•
Oi yi C5
'^COX'^M
** — cjiaj®
»Oi©cnrCO
to
.."_w_
t3
t^<JC? WCJi
ClQc'r-tCM
MX-^vrX
iU> (-•
oj
p_jo^ to X
c;i
O*! i{^
p
t-1
i(k.
<I CJ
to
Hoiacco
wxp^
p p«><i'ingc©
fCMCit^-CO
(k-qxi--*-
©
©
OW
-J«
'i
it^
X
**.
X
"yi
k;
© wbo
to
W h* o
•01
wo;otox
tf^
X h- X Ol
ppj— CO 01
^
c;"
*»-aDM*co*M
l5^
© to W
X
M
g-;?
totb-CoVx
to
iOrf^po:x>
•^cjixVjco
*^ j^
•
*
^OlM — M
CO
^•Kjpppx
MXCOXOtJ
<!tocicow
p-IT plO
^coco'.o^
to'^coiocfl
CO
CCirf*©CSO
© uo O
Jvne.
183.S.
Gross eai-nlngfl
*7'A382
Operailng expenses.... 18,586
Net eaminfte
,
1884.
$16,68.5
20110
Union Paciflc—The
'f^Qo'ciiJi©
CDto:;ixco
_
June,
,^l
?"S
?
va
Jan,
1 to
188i
^iVn.sio
U7 930
.
.
1884.
Jan. 1
1885.
to
June
30.
.
1884.
Gross earnings
$1,955,395 $1,739,453 $11,224,530 $10,S)!)3,817
Operat'g e.xpeiises. I,.'i54,916
1,220,373
7,949,844
7.634,093
Net earnings...
$100,479
$518,878
$3,274,686
*3.359,724
Net earnings decreased in June, 1885, $118,399, and for the
six months from January 1 decreased $85,038.
Mr. Henry McFarland, Treasurer of the Union Pacific
Railway Company, offers to purchase on behalf of the comJune :^n
pany on or before Aug. 31, 1885, any or all of the outstand\hha
$113 072 ing issue of its land grant bonds on the following terms
130252 Bonds of the series due and payable April 1, 1887, at 104i^,
—
,
flat;
$3,796 clef.$3,425
gross and net earnings for June, and
months from January 1 were as follows:
1885.
QDZJi'O >->:£,
<].f>"pc;i u."*
itk
.
:
for the six
Sonora Railway.—The earnings and expenses of this Company for June, and for six months from Jan. 1 (in
Mexican
J^^eiicdn
currency) were as follows:
'
diately passed by force of law to the Central Trust Company
as trustee, by virtue of the after-acquired property clause of
the mortgage of January 17, 1880." In summing up his report
Captain Ricks said " I am therefore of the opiuion and so
report that all the property acquired by the Toledo Delphos &
Burlington Railroad Company after January 17, 1880, is
embraced in and part of the property described in the mortgage, and was conveyed in trust to secure the issue of $1,250,000 of the first mortgage bonds; subject, however, to the
liens hereinafter set forth upon specified pieces of property."
Then follows a long list of liens upon various pieces of property sold by individuals to the road, upon which there yet
remains a balance unpaid.
These pieces are described in
extenso, the description including an abstract of title, &c.
The report is therefore in favor of the first mortgage bondholders.
.
pp*»C3X
tOrfi.©*..©
o to -' X o*
cs
?
t-«
^f^Ci,
"^
©I— rotfkM
*•
-J iO yi
^
^©Cl'jt.1
^X
Cl Ci Cl 10 to
py<**©x
«« C«
-
CPMrffc
I-*
_-
CJi
xccx-o©
I- OS *' to CO
rf»-
^:a
CO to X
ppp©oi
-J©coci*»
»-•
Cft
O'CO-aZCi
'-'
C
© 0: O
^CT- H^
If
^^
W CS CC CO in
l-*;;itOX>-*
*-0_»l-XUt
'
©«»CCMy,
pp.-^px'^
O t3 v. cob'
os — y^w
c -q o OS
a-gcocnco
"-I
1
p tocotco
PP^l ^^ Ci
—
OtW
X <] XX Oi
rf* :;« rf*
—
—
$31,580 def.$17,180
flat,
do. to Oct.
1,
1888,
1095^', flat; do.
^
April
1,
1889, 110}|,
:
AuausT
THE (CHRONICLE.
8, 1886.]
'i;iic
COTTON.
((vaiwmerctal '^^imcs.
Fbidat, p. M.. August?, 1880.
as indicated by our telefcrnma
from the South to-night, is given below. For toe week ending
thia evening (Aug. 7), the total reoeipta have reaobed 2,0'-^
bales, against 2.588 balea laat week, 2,104 balee the prenoaa
Tbk Muvemknt or thb Chop,
COMMERCIAL EPITOME.
Friday
Niqiit,
Aug
163
7, IftSl.
Preparations for the obsequies of General Orant, which are
to be hold tomorrow (Siitunlay), have occupied inucii titux in
the p<\nt weulc and diverted attention from buaincHS atTairs.
A
!orm liiis visited the whole Atlantic coast, and »t
i'
there was great deBtriiction of
1 and its suburbs
|u-,.. .,, .aid some loss of life.
The weather h;i3 since been
nuioli co'>ler and the mortality in our great cities has diminished.
Libor troubles are less serious, and a number of iron
works at the Wet-t have resumed operations.
The following; is a slutomunt of the stocics of leading articles
of domestic and foreign merchandise at dates given
1,972 bales three weeks since; makuiK tlie total
raoeipta since the tst of September, 1884, 4,736,984 balea, aoaiiMt
4.808,030 bales for the same period of 1883-84, ahowiiig
decrease since September 1, 1884, of 71.496 halee.
week and
1
:
1895.
138ft.
July
Pork
Rt^of
tos. 011(1
1
,
(J. '11.
Coilci',
otUer
Java, &e
332
059
40,7H".)
29,'.287
37,962
36.383
50.289
29,120
94,690
62.105
77,292
179
1,025,795
22.139
mats.
hbds.
boxes.
Ac.
hhd-.
Hiic.ir
Siii:
baffs,
11-
M.I.hIo
forel^i
ilomcatlo
M"i;i^.408,
M'll.i -.ses,
Mi
48,984
44,782
100,6 i-i
3-i,.iOJ
74,037
None.
I,22()..'i62
9,193
54,312
186,007
l,4lill
1,340.835
648
1,214
800
219,300
hhds.
bbls.
80O
No.
186,400
3,eo5
l./OO
151,700
bnltis.
2'21,844
167,vi70
IS.'i.OJS
Ri>sl 11
bbls.
18,130
21,127
25,54 8
Bpirits turpuutlne
Tiir
Rice, E. I
bl)l«.
1,651
2,326
bbls.
2,609
9,700
2,250
20.000
13,000
67,300
18.408
30,300
1,368
2,562
12,460
3.400
20,000
13,300
63,500
1K,078
27,463
None.
14.800
95.000
9,2a0
19,778
Rli'o,
domestio
bags.
bbls.
tcs.
bags.
bags.
I.iij'ommI
B.iitiM.tre
Jcitf Imtts
bales.
bales.
Kunila hemp
Blsal
and
hemp
bales
500
Kew
JH.
TottU.
7
27
21
23S
24
I
21
20
4
54
7
Orlciaas...
Mobile
09
11
3
4
Florida
asvannab
Bnmsw'k, Ao.
3
CbarlcBtoD
Ft. Koyal, Ao.
WUiidngtoii
Horeh'd C.,Ae
4
m
9
10
1
a
1
"s
(TorfOIk
24
112
14
31
10
WeatPolnt.&o
170
31
S
3
Tork
5
Boston
Baltimore
3
422
422
l,0.i4
1,059
1.612
2.038
Phlladelp'a, dec.
Totals ttds week
112
78
For comparison,
150
27
29
we frive the following table showing the week's
total receipts, the total since Sept. 1, 1884, and the stock to-night,
and the same items for the corresponding periods of last year.
1883-84.
1884-85.
Keeeiptt to
Avgutt
7.
ThU
Week.
...
27
Ind'nols,,%o
21
Galveston
New Orleans.
Lard futures early in the week were greatly depressed by
the excoBsive production, and on Wednesday extreme low
prices were reached, which stimulated a demand to cover contracts, causing a slight recovery yesterday and some further
improvement to-Jay, closing at 6'60c. for August, C63c. for
September, 6-75c. for October, 6C8c. for November and 6'67c.
Spot lard also declined, without stimulating
for December.
the demand, until to-day. when there was a good busintas,
nurt.
Indlaiiuiit, die.
3,17tl
2, '00
Wld.
10
OalVMton
UO Mew
92.
89.H4V;
11 3.1,VI
TUf.
Jf<m.
Bat.
31.."i7i
795
1,0S«
4, J 42
Uiil.<
Cut t on
1.
tC8.
bogs.
bafn.
Buc.ir
Aug.
11,842
bfdes.
<<
1.
14,-178
blids.
"iieatto
>'ign
Aug.
bbls.
bble.
Lanl
T
1.
1884.
KteeipU at-
Mobile
Florida
Savannah....
Since Sep.
1, 1884.
456,630
11,069
235 1,525,202
24 229,258
4
25
Br'8w'k,&o.
Ojarleston...
10
Pt.Royal.Ao
••••>
Wlliiiliigton..
2
M'hoadCAc
76.509
721,062
10,837
511,031
7,812
03,622
9,621
This
Week.
atoeK.
Since Sep.
1, 1883.
1884.
1880.
89 591,683
20
8.498
449 1,514,966
75 253,329
1
42,831
139 654,401
8,084
6 417,585
1
13,708
91,767
12,662
4
6 580.054
3 222,643
40 108,383
170 186.115
29.911
200
1,061
71,312
680
10
1,475
19,333
2,432
2
1,113
29.941
3,449
694
491
293
666
287
1,179
1,226
170 549,286
Norfolk
for prime city, (i'63o. for prime Western and 0'90c. for
13
31
W.Polnt.&c.
283,089
relined for the Continent. Pork has also declined, but closes
138.162
152,919
5
68.359
more sto.idy at $U@i511 3o for mess. Cutmeats have been irreg- New York...
3
83,230
6,310
6 310
Boston
ular; pickled hams are dearer at 11 3:tc. while pickled bellies
422
43.031
2,3;64
1.2ia
Butter is firmer at 15(a20c. for creamery. Baltimore ...
are dull at 6@6;'ic.
Philadel'a,<bo
3,728
6.258
1,059
56,936
Clieese has also recovered some of tho recent decline and
clcsei at 5j2@^J^c. for State factory.
2.2634.808,030 191,073 189.483
Total
2,039 4.73'',^3t
Coffee on tho spot has been quieter but firm; fair cargoes
NoTK. — 10.583 bales added as correoiiou ot teccipCa since Sept. 1,
[lio quoted 8,^g@8?8C. for old and new crops.
Speculative op- 1384, at New Orleans.
ti'ins were leas active and close irregular, with sellers at 7-2')C.
In order that comparison may t>e made with other years, we
Au,.<ust, 7-25o'. for October, 7-30i;. for D-cember and 7-40o.
give below the totals at leading ports for six seasons.
Rtw sugars partially declined l-16c. early in Receipt! at— 1885.
i T I'ebruiry.
1883.
1882.
1881.
18S0.
1884.
the week, there Iwing a severe pressure to sell; but yesterday
1,052
587
Oalvest'n.dko.
109
2,611
2,078
48
recovery
of tone and values on very free buying,
there wa3 a
539
449
2,436
3,435
814
235
c! '-ing at 5 l-16@3,'^c. for fair to giod refilling.
Refined also New Orleans.
101
204
499
297
MobUe
-lined and recovered, closing at OV^QS'gC. for crashed and
24
75
1,430
386
1.866
1,513
1)0. for standard "A."
25
139
Molasses has declined to n'^c. Savannah....
r
372
257
348
.jO-degrees test. Teas sold fairly at auction and ciuse O'barl'st'n. Jic
7
740
10
110
steady.
125
98
Wllm'gt'n, <bo
2
4
58
Kentucky tobacco has continued quiet, the sales being made Norfolk, Ac..
834
1.629
201
1,078
1.0S8
8
in the range of 6,'i@ lli.^c.
Seed leaf is not so active, and yet iUI others....
3 109
1,550
1,423
3,594
1,493
1,172
a very fair volume of business has been done and prices are
4.811
13,062
8.691
Tot
this w'k.
2,263
8,706
2,033
firm, the severe storm having injured the growing crop. Sales
'M') vjos as follows: 230 cases 188t crop, Ponnsylv.-inia,
.11.
Since Sept. 1. 4730,534 4808.010 5950,281' 46«5,S35'5788.585 4908,575
rins; 250 cases 18S1 crop, PHnnsvlvania, 53..^@lb'.
!
GaIve«tou liieliuies Indlanola; Charleston Inclndes Port Soral, Ao.
'1.
ISsl crop. New England, 15(§18c
100 Cises 18S4 VrUudngtou Includes Morehead City, Ac; Norfolk tuoludea West Point.Ao.
[i. <.)!iio.
"I'^'o., and 200 cases sundries, 5!^@35c.; also 400
The exports for the week ending this evening reach a total
bii.s Havana, 60c.(«|l 15, and 350 bales Sumatra, |1 20@
of 13.955 bales, of which 6,603 were to Great Britain, 5,305
$1 60.
to France and 2,047 to the rest of the Continent, while the
Crude petroleum certificates have ihown increased specula- stocks as made up this evening are now 191,075 bales. Below
tive activity, and prices have been feverishly variable, the •re Uie exports for the week and since September 1, 1884.
news from the wells being quite conflicting. The opening this
ProinStpl. l. 1884. to Aug. 1, 1S86.
Wfk BnMat Aim/. 7.
,., ,r.,i,,.. vi'Bs buoyant,
but the close depressed, at 9853(d98i^c.;
Bxported to—
Exported to—
I)!)^. quoted 7'4'«7J-^c., refned in bhls. Si^c. ana in
.:
flaeportfl
Orent
CMUIOreat
CbnU- Ibtol
r..^
flO'^c; naphtuii, OJ^c. Spirits turpentine on tho
fnm
nua.
BriVn.,'""^' nent. Wuk. DriUitn.]'^'"' nent.
spot has contmued dull, and the nominal quotatim is further
ftl,143
231.411
157.1HS
9.S10
re<luced to 35i^c. Speculition has also been dull, and at the (MTMton
1,190
BASS e0«.i)oe 801.601 8»t.08e
4.806
the bids for the autumn months are reduced to 3.j335J^c. N«w Orleans.
TOO
4S.HS0
48.130
Mobil*
iris have continued weak, and common to good strained
8.085
6'.V5i;.
'!
I
I
.
'
1
.
'
.,
I
;
!
I
.,
i
.,
•
•
have declined STJ-.^c, and close with bids
.J per ton. Block tin bus also been droopare 00 points lower and futures 25 points lower. Tin
very dull. Copper has l)een firm, and Like closes 5
irerat ir05'j. Load w.is dull and drooping, clo.-iing
for domestic and 4-80(r« 4-750. for foreign. Speller
} dull at l^g'c. for domesiic and 4-;'.fo. for foreign.
Ml
I'.-ulation in com, by checking shipments, has much
U;>iXi,dthe rates of ocean freight, and today grain was
laken for Liverpool and Bristol at 2d. a bushel, while from
llaltiraore ballast rates have been accepted.
.•3
'.
riorMs.
SavaoBsh....
1T9.M3
Charlaitoo*..
lS4.ail
Wllmlnston..
BI.S89
siaiBO
.yorfollit
Hew
Tork....
ii.aw
e«7
6,986
T.OSS
«.sr»
Total
iiu,r<ifl|
1,003
5.806
U.S47
l.~^»j
M.i;.--
Indodea expona from Purt iturai, ao.
t Inolndea Mporw from Wwt Point, ao.
*
a.4W^83
40.871
a8«.iM
iso.ne
189,^74
DS.&TB
401.04 1.033.a.M 3.663jai
I
3'
S0.88S
345.300
743.440
a«i«
.>30.a«3
.:
I
Total 1863.84
3,067
(3.780
S.OOS,
SBOJW
14.040
30.670
1W.4S8
«TO
BO 1. 813
1S9.80S
SalUmora..
Phlladalp-aJM
ISUJSS
ItSBIS
»«7g7.1
s'ajiiswa
143
—
«
. .
e
,
our telegraDG^night ate^ve
In addition to above exports,
Carey, Yale
for our special use by Messrs.
trtdch
Lambert. 89 Broad Street.
Ke^ed
On Shipboard,
AUO.
AT—
7,
New Orleans...
—
Mobile
Charleston
eavaunah
Galveston
iiTorfolk
Hew York
OtbeT ports
Total 1885
200
.I.OOO
1,300
None.
None.
11,780
200
.5,000
Ii6
17,126
173,919
None.
5,000
191
"ftO
2.S35
13,248
13.641
176,235
260,838
I
3.^0
i
a"
18,212
2,432
1.126
14G
None.
None.
None.
None.
None.
None.
None.
8.057
9,709
Total 1884
Total 1883
Stock.
Total.
None.
None.
None.
None.
None.
14,700
1,300
1,179
138,219
11.120
*»
'^4
694
1,113
p
00- *
:
aETi
»•
o;
•
:
680
which were made on August contracts
To-day the
there was a decline of l-16c. on Wednesday.
10>£c.
-decline was recovered, but the close was fairly active at
free deliveries
to arrive.
.each day of the past
—
jiiig. 1 to
Aug. 7.
•
NEW ORLEANS.
S3a
8% 8%
8^
SH
Ordin'y W* 814
Si'iel 81118 8>iio hl3l„ 813i6
«trtet Ord.
9°8
91%
goft
9>«
KiooA Ord.. 9>«
9"
10
jlO
10
'Btr. G'd Ord 9%
9'e
XxjwMidd'e 108ie '10»ifl ll)3l0 105i8 llO^io 105,
atr.L'w Mid 1038 jlCSs 103a 101a jlOi* lOHl
Sat.
838
B13i8
9»8
838
8'3,6
9»8
10
838
10
105i8
IOI3
10»8
105,8
!J
»
"
00
<
2
"
COW
OiO
Middling... 10»a
10»8
Qood And
10i3ieil0i3i(
111
11
1138
11=8
12
112
«tr. G'd Mid
aadd'gFair
Fair
I1OI3
la's
lOl'i loi'iBloi'ie
lO'a ilCs iio'^s
ll"*
IIM
IT'S
il'a In'a
im
Wed Tb.
Ordln'y.SB
-«trlctOrd..
<iood Ord..
.Str.G'dOrd
-JLow Mldd'u
Btt.L'wMlii
AUddUug.
Good
Bu
Mid..
<J'dlVlld
Uldd'g Fair
fair
Wed
Frt.
8I4
868
811,8
91$
91,8
9IS19
- „
9!9
10i«
103,
.- , ,1018
106, 8 106,8 11038
107,8 !l07,e iioia
lOSg ,10»8 11011,8
10l3,6'lOl3i8'lO-8
113,8 ,113,8 1III4
1113,8 111:^,, lUa
8S,8
808
91,6
913,8
STAINED.
MOeod Ordinary
llOSfl
¥!!>•
11
113s
12
Th. Frl. UTed Tb.
CiiCJi
aco:
h-Mw'-'
*"*
85,,,
838
85,6
8^
8^
813,6
8\
8^
99j6
il»,6
9«8
99,8
916,8! 916l6'10
.10.
OCOo^ *?^©^
(CCOO6 (icoOCD
CDO^O
toga
t—
osa*
*4Co
mom Tuea Wed
Sat.
coco
CD»
C:^
I<
^i
2
^9-
I
coco
CiOi
I5
2
7''8
7''8
89,
89,6
938
10
7^8
89,6
9>8
lio
713,6
Slj
95,6
916,6
00
I
!J
CDO
2
©cji
cc.m
2
*^
coco
9,-1:
f'Cfl
9u<:
I
I
I
J
Ic.-dl
coco
2
o: J3
C »w
6:03
i».o
S
'
9§
.'Oi
w
to»
"I
cr. cji
2
dffi
OaOJ
2
CO
O
-J<lO
to to
0501
tcto©'-?
-I .j
d -lOoi
Oc
oboo
tcto
.^.j
2
^
^-a^
to
CDCO
^
2
-
to^
9
I
^
2
^
:
tc*o
-j-j
2
<j)
aOc;.
fficfiOo
i
toto
.
.
toto
2
05
«.-:
.'iabo.j
CQO
QD
-J^
tit
toto
-i-i
<ito
5
2
X
C;i
^
O"
coco
(xob
fotcotc
00 35
OT
coco
ccoo
<
2
or
'"9
66*^0^
.-o
OP
totooto
obobOoi
toto
tcco
toto
trto
-4tO
'-0
tf.03
!.
'^
00^
KJHJo,
09
O.J.
I
1
•
X
9.^;
00
rf^J^
toto
5
-'i-j
2
**
ac5
:
10 a«
to
•HI
*.-:
i
¥1
toto
obto
to
vo
a
o
'
to
Sid:
o'-o
to
CD
05
Ceo
to
tcto
5
to to
2
^
Oft;'
au:
'toSg-o
too
OD,^
05 .-
00
can-
2
^
coxoto
CCCDc^O
tctootc
eotoOco
So 5
2
o-o
M
O
I
a
:
coH
O?
i Co
I
1
00 >
CO 52 MM
f-M
Ml-
2
**
ti
«.*
I
tctooto
<B-4°05
I
at
5
2
®°;
2
"
»>-;
9w:
la:
Mit^M Mr- wM MMCJM
O oO OOoO 9'. o? COoO
CmOm
06O0
p^OA
ooOo
GO
000 v tso o
O O
»
I
to
.w.
cc
=9 5
MO
o*
§
tcto
05*1"-"
I
o9
9
cbixOcc
o'^ w
1
1
1
9
I
2
:
oo
M Om
C
,
I
O' to
09
00
to to
to
?M
to*.
I
o o9
OtO
to
to
V
1
'
^
total sales and future deUveriea each day during the
are indicated in the following statement. For the con-venience of the reader we also add a column which shows at a
j^nce bow the market closed on same days.
e«;
I
^CD
C009 ^""^lO
990=9 ^909
tho^^
6006
6606
Cap O'
*»
tCCi
f-O
HABKET AKS SALES.
Ihe
<
(5535
I
toot?
to
toSto
to
!-•
C-.
ag
:
1
tOSQt?
etc
oca
»w:
I
"
«oto
I
aw;
I
tO-ogtO
0:^0.4
® ®?O
o
6^6
w
CD *j
CO
-
£
Or-
«
da
to too*
1
totco«
CO
66
tcto
5
2
CO
-.*!
-0«
''oitCtOo'-S
o ajaboco
I
I
to
dci
«.-:
».-:
1
u
^
toco
2
.
.
tDo=0
oOui
'
2
**
I
tog
gto
to
<l-40.j
5
a 05
:
5
tOC/ii-i^
ap
i
2
«»
^
2
"
I
cso)
"
00
Oi
0, o"
o
to-octo cocoo^ to^o^
<f-<i^a) <ncf.Oa> cjdjOa
yi o
.^
10
C' ji
c «» p_
toto
to to
5 toto
OSr'
OOcO
0606
too
<OtD
tc^
**
wen
t>o;
I
I
U^S
IS2
2
^
5
COO)
o
Vt
CO
o
coco
0)01
fcOW
«io:
-w-. ^^o^ ^®o®
CniiOcj CsiOci
O l(*-rf-tOO w o
o
838
813,6
9=8
03
— to
tog
Frl.
CD
coto
1
cftOcn
tco
S
000
I
too
I
>
J^
"7^
*^
er;
I
CO
COC009
o
11%
713,8
8l4
&9l6
95
938
9^16
916,16 10
o;w
(CO-D
I
Z
Qiw:
1
CDOqo
'
to.
lOSo
1013,8
11
Frl.
I4
^
CD
toco
I
Tb.
5
9,w;
1
*-'
tt-
lOifl
913,8 10
IOI4
lOU 105,, 1014 lOk 105,6
IOI2
10-1,8
lOT,
101,8 10M6 lOHi
10=8
109,8 109,
109,8 109,8 lOBa
105,
1013,,
10% 103i 1013,6 10\
lOiSjd 10:5,0 11
1016,f 1016,6
115,
116
liss
116
113,8 1138
1115,6 111516 12
1115,8I1115ibI12
I
OO
•*
OQ OS
r^"^iL»^~
85,,
933
|10
middling
lOlSi,
9»
I
«0triot Oood Ordinary
Xow Middling
1058
-
g:
:
a
c^co
!
105,,
lOij
1008
I
to
OO
CDOo*^
958
10
s:
it..<l
00
mon Tuea
I
CO
WW
wo
*^
(©y
TEXAS.
Mou Tuea
Sat.
I
t
cs
c. to
week.
UPLANDS.
Sat. mon Tnes
'^
g;
-:;•
bales
in transit. Of the above,
and
The following are the official quotations for
were
-:
;
-- o OOoO coSo
igicooo oooo 9°9°
WCoOcd WW^U cccoOei CJrf>.Ow
O i;lib.Oril
to
^1^
r^
^V CO
CCCD
5
ceo 5 00 ^ eo«D 5 C£<D
2
CD to
2 03 QO g tt)x 2 66 1-^
=
en K
S
in/i
forward delivery for the week are <390,1UU
For immediate deliverv the total sales foot up this week
bales
consumption,
4,651 bales, including 2,050 for export, 2,601 for
—
i
I
total sales for
speculation
i
oo
active
be lost. Cotton on the spot has been only moderately
the
-whether for export or home consumption, and under
-._1_ for
=3
<p
CD
plications
<^r.A
Si
at
MOpT
close wa=! partially
-absence of
Liverpool was but
lower. Yesterday a decided advance at
close, which was
the
toward
till
us,
with
feebly responded to
buoyant on
firm at some advance. To-day the opening was
from
accounts
crop
favorable
the
but
report,
the Liverpool
the rumors of fresh com>the National Cotton Exchange and
to
in Afghanistan caused most of the early advance
The
^1
I
P
21
Sals' E.gSa
"
a
«.
irregular.
for middling uplands.
din
5SP'
i2£i
CO
market has been less
Cotton for future delivery at this
prices have been van.
and
review,
under
active for the week
and Monday, during the
able and unsettled. On Saturday
there was some depression
closing of the Liverpool market,
in Texas having been
drought
the
with U3, and some decline,
respecting the
accounts
the
and
rainfall,
by
relieved
Carolinas not
the
and
Alabama
in
appearance of worms
Tuesday opened
being regarded as of much consequence.
was not so great as had
firmer, as the decline at Liverpool
and the close wa?
been anticipated, but depression followed
Wednesday opened higher, but declined in the
a sustained demand and the
dm
mii
CO) «"
Leaving
Coastwise.
None.
None.
None.
None.
None.
None.
None.
None.
None.
None.
None.
None.
980
None.
None.
None.
None.
None.
9,500
Tna Sales and Pkices of Futukks are shown by the follow
found the
tag comprehensive table. In the statement will be
each
day, and
month
each
for
sales
of
prices
the
market,
daily
the closing bids, in addition to the daily and total sales.
I* J?
not cleared—for
Other
JFVanee, Foreign
Great
Britain,
very
[Vcu Xli
THE CHRONICLE.
164
&
:
I
«:
I
I:
week
&
—
9
9^0^
KitOOi-I.
Cd»-«
I
I
1
I
I
«
I
1
5
I
I
I
I
«
I
I
I
I:
I
!
I
Id:
CD
I
I
I
I
I
I
I
I
I
I
8
I
I
I
I
I
I
9:
I
l«:
I
I:
Septem
* Includes sales in September, 1884, for September, 158,2(i0
ber October, lor October, 421,800; September-November, for November582,200; Seiitember-December, for December. 967,800; SeiitemberJanuary, for January, 2,114,100; September-Fubruary, for FebruiuTt
1,95!>,200; September-March, for March, 2.29i.lOO; September-April,
tor April. l,738.,'")"0; September-Mny, for May, l,87».3O0; SuptcmberJune, for Jime, 1,800,700; September- July, lor July, 847,500.
Cf' We have mciuded in tne aoove laole, and suali ooiiunne eaoB
week to Rive, the average price of futures each day for each montn. Is
Tne
will be found under each dav following the abbreviation " Aver.
average for each month for the week is also glv»n at boironi of table.
lueeday.
40c.;
10
Monday,
Transferable Orders—Saturday, 10-45c.;
10'35c.; Wednesday, 10'35o.; Thursday, 10-400.; Friday, 10-450.
;
SALES OF SPOT AMD TBAMarT.
SPOT MARKBT
OLOS£I>.
Bat.
Mon
Wed.
Quiet and steady
Quint
Toes
Qiiiet
^luin
Quli^t at 1,6 dec.
Quiet.
Ftl.. bteady at 1,8 adv
TMal.
Tbe
Ex-
1
port.
400^
1,006
650
Oonr-
\
Spec- TranTotal.
3iU
tumpMl'l'n
175
343
470
627
198
780
2,050 2,fi01
FUTUBES.
Sales.
Deliveries.
575 12,700 2,400
342 47,000 3,000
1,470
73,300
2,000
627 46,300 6,000
848 42,.i00 2,'200
789 68,300 4,600
4,651 290,100 21,200
dally dellyenes given above are actually delivered tlie
.-^rerlous to ttiat on wlilcli tlicy are reported.
day
The following exchanges have be6n made during the week:
•40 pd. to exch. 300 Sept. for Aug.
1
-25 pd. to oxoU.
200 Deo. for Mar.
J
doost
p
.
.
THE CHRONICLE.
1885. J
8,
«
1
165
Thk ViniBT.E SurrLT or Cotton tn^iteht, u oMde up by caoto
to Thin
flgtiDM for
balea more than at the Mme period last year. The reoelpU at
The Oononafital ttocka. aaweUai the lame towna have been 008 balei. more than the aam*
are thh week'" r., »,..-„,
week loflt rear, and since Ssptember 1 the receipt* at all tfa*
V all the Euro|M>an AKunyi arohnu:
towns are 2:12.1118 bales Uss than for the same time In 18^84,
iiint;.
But to make the totala tln'
T FOR Mllii
r».
lo-nlxlit (Ann. T), wo add the item of exuorlH from
the Uuitod
!jt;itet>.
•nd
ti'li'^'nipli, JM a.s f<illc>wH.
thoeo
and
f..r
I
:..
ۥ<
KriUun ami
ii
tlio afloKt,
(,li
inuluditig in
In
the exports of Friday only,
it
Im:.
18S5.
1884.
1883.
826,000
71,000
03'i.P00
(;ii'.i,()()0
47.000
<;<.100
4.0 10
697,000
n,2oo
4:<,4U()
et),3oo
970,000
4.noo
47,700
Btookat
4S,U00
48,000
H 1 ,000
Btork.ii
eoo
ooo
1,000
174,000
4.000
a 1,000
8,000
10,000
.3,400
2,100
8.000
1 OH ,000
bales.
2.',000
Total Oront Brltalo sCook
747,000
rTilinlMliL,-.
»l !
Bt'>.
:
Bi.
Bl.'
IIIOH.
Bto.
aui.ooo
H.OOO
too
7.TH,
tiuu
1100
:loo
Aug
II
ft
7.
QalvCHton
w
(
...
iiioiins.
Amerloan
bales
M3.000
afloat for Europe...
224.000
42.000
United States stouk
United States interior stooks..
United States exports to-dar..
',
Total American...
M(ut Indian. Brant, *c.
UrenHK)!
—....
8t(X)k
liondon stock
Continental stocks
India afloat tor li:urope
£g]rpt, Brazil,
^c,
1H1,07.'5
503,000
24^,000
43,000
189.483
18,8~9
1,960
16,795
3,200
9'e
tj,;;oo
BoBlllll
10^
10\
104
10%
10i«
10%
10^
10
10
10%
10<
10
10
10
10
10
10
10,000
15.S,56S
17,125
2,11.0
600,793
212,000
22.000
117.000
71,000
302,000
69.100
8.")
Pliliaili-lphia.
Au^tifltii
101>8
101s
10^
422,000
9;i0,914 1,003,478 1,223,860
ports
17.123
2,100
.140.000
10,000
821.700
690,793
The above flj^iree indicate a decrease in the cotton in sight
to-night of 367,364 bales as compared with the same date of
1884, a decrease of .501, -5 16 bales as compared with the corresponding date of 1883 and a decrease of 99,579 bales as
compared with 1882.
AT THK Interior Towns the movement that is the receipts
foe the week and since Sept. 1, the shipments for the week, and
the stocks to-night, and the same items for the corresponding
—
—
is
set out in detail in the following statement.
10
10
10
10
10
10
10
Cincinnati...
Louisville
10^8
10>4
10%
lOM
10%
10%
10%
10%
10A«
10>4
lOVi
1014
Amount of Cotton in Sioht Auo. 7.—In the table below
we give the receipts from plantations in another form, and add
to tnem the net overland movement to Aug. 1, and also the
takings by Southern spinners to the same date, so aa to g^ve
Bubstantially the amount of cotton now in sight.
1884-85.
o
g
>0
co:
t5.
:
.
M
.tt
w:
^OSO.
:
— ia*
::-
:
M-
:
10
•
•
•
?l
QD
(3
O
Ot
Oi
oa
c w o: a: c "W ' Ci to o
:» JU Ki
"s
od:
o
:
:
lu:
01
3
M»0
M
^ h^
OcfcVMC^tD^-OJS w*.»j:. w't£pxa•-
o C" *- c- a -' »= ic i* -• c CO
&. « to o« to a- o X ot CO ~j cj w X
*ij' c C'
^a
:>.
a:
c o;
-
*•
8
o5^
::^
ft.
ill
<1
5"
X
to
s
00
00
-J
to
to
13
u
•-
otoo
K*.
CO
(:;iH>;
to'.
-;
:
:
cdr-oicnocHir^
:
.
;
kO<
I
.
lo^:
H^M.
I
.
:
:
;
.
.
^
!
CB
«>
w:
-^WU'
:
;
os
•
CO
|3
»5-
I
10
9
-a
2
|
1831-82.
Tot. receipts
from planta'tns 4,7-10,574 4,779,307 5,980.991 4,641,503
610,060 573,700 643,248 468.22l>2H4,0U0 296,000 3'2.1.O00 234,000
1
Net overland to Aueiist 1
Soutberu oousumpt n to Aug.
Total In sight AU!?U8t7
5,614,634 5,649,007 6,955,229 5,343.733
Northern spinners' takings to
1,360.119 1,541.027 1,722.903 1.60a,10O
* Uecrcjise from Srti>teniber 1.
It wiU be seen by the above that the decrease In amnnnt In rlgl X
to-night, as coiiii>arcil with last year, is 34,'J73 baloi, the decrease
from 1882-83
270,902 bales.
is
1,340,593 bales
and Uie
Increase over 1881-82 is-
Weather Reports by Teleoraph.—There has in general
been a continuation of favorable weather conditions at the
Soutli during the week. While the crop outlook in Texas ia
exceedingly satisfactory, rain is beginning to be needed in
some sections there is, however, no suffering as yet. Pickiti^.
has begun in Texas.
Glalveston, Texas. ^The weather has been warm and dry ^I
the week. New cotton received thus far, 18 bales. Average
thermometer 85, highest 91, lowest 79.
Indianola, Texas. We have had dry and warm weather
all the week.
Crops continue splendid, but need rain. Picking has begun. The thermometer has averaged 83, the highest
;
—
—
being 95 and the lowest 78.
Palestine, Texas. There has been one light shower locally
during the week, but elsewliere the rain has been heavier.
The rainfall reached twenty-four hundredths of an inch.
While the rain was beneficial, there has not been enough;
still prospects continue good.
The thermometer has averaged
85, ranging from 74 to 96.
HuntsvUle, Texas. We have had warm and dry weather
all the week.
Crop accounts ara more favorable since last
week's splendid rain. We hear rumors of the appearance of
caterpillars, but think them of little importance.
Picking
has begun. The thermometer has ranged from 73 to 98,
averaging 80.
Liiling, Texas. The weather has been dry and warm
during the week, and we are needing rain. Picking has been
coV'x — bb^cs
C^ *^ <S «.
tsj
^ -o
M
a
Mpto®o:^Ci»->pp<jpwxpot®—
— '1 » O *.^^I W1u.">-'*xViV]0iV)'DV Ct
CI
to X to tC *CO O W V Ci » O — W IM to ** w
GO Ob O '^ CO K to O a W 0< P' ^ 03 b: (0 CD to
ff
5
^
tti
•vl
«5
u
»0
u
p g
:
o
CJii^
:
•
•
i^t0l0«-O*
M.
t-»
»
:
:
:
09'
:
•
QD-J>.
00*
*
aitO*>GDM|^CO
...
:
©P-.
:
.
i-*»0
'
03tO
III
1
p
OD
00
^"^
lOtO
S ^ xc^oo'^^W'^y.
•Tills year's flKiires
—
commenced, Average thermometer 87, highest 98, lowest 74.
Columbia, Texas. — We have had one light shower during
the week, the rainfall reaching four hundredths of an inch.
Sugar cane needs rain but cotton does not want a drop.
Prospects fine. The thermometer lias averaged 83, the highest
being 95 and the lowest 73.
Brenham, Texas. Dry and very hot weather all the week,
and rain is needed. The thermometer has averaged 87,
ranging from 70 to 104.
Belton, Texas. ^The weather has been warm and dry all
the week. Crops are good but need rain. The thermometer
has ranged from 63 to 103, averaging 8-1.
y/eatherford, Texa^. We have had warm and dry weather
all the week. Prospects are good, but rain will soon be needed,
again. Average thermometer 81, highest 100 and lowest 59.
Dallas, Texas. Tliere has been one good shower during
the week, the rainfall reaching sixty-three hundredths of an
inch. The heat is terrible. Crops generally good, but some sections need rain. The thermometer has averaged 89, the highest being 105 and the lowest 72.
New Orleans, Louisiana. We have had rain on two davs
of the week, the rainfall reaching ten hundredths of an inch.
The thermometer has averagetl 83.
Sfireveport, iof4l«iana.— Rainfall for the week two hundredths of an inch. The thermometer has averaged 84, ranging from 74 to 101.
Meridian, Hississippi.— Telegram not received.
Columbns, Mississippi. We have had no rain all the
week, Caterpillars are claimed to have appeared, but witb
—
—
lit
...
CO
^osQD^;
•
Mp-COi^.
io
1882-83.
—
1
CO
1883-84.
Receipts at the ports to Auk. 7. 4,736,534 4.808,030 5,930,260 4,665,835
Intt'rtor stocks on Aug. 7 hi
excuss o( September 1
4,010
•28,723
•21,332
36,721
—
9
E E
1 a
a.
10»l)
300,000
14,000 bales.
period of 1883-84
10%
10
10
10
Mcinplils ....
.000
weeli have been
tliis
10
lOU
10%
101 IS
64,000
1,412,914 1,780,278 1,914,460 1,512.493
Total visible supply
6i4d.
6»i«d.
Price Mid. Uiil., Liverpool....
71i«d.
511, f,d.
lOlac
lOi^o.
lOiSitC.
Prloe Mill. Upl., New York....
13c.
^^ The imports into Continental
10i<
10
10 1«
8t. l>oiiifl
Augiisr, 7...
40
Total East India,
Total American
"I'lW
ir-
990,914 1,005,478 1,223,860
698.600
9^8
0%
10>4
lOlis
lOUg'
15,^.568
774,800
9'8
*H.
Oi'is
10
367,000
afloat
OH
»\
10>4
190,000
65.000
274.482
44,578
1,800
282.000
47.900
120.700
210.000
22,000
9^
0\
9>
9*
9\
on—
10
e.^o.ooo
318.000
71.000
192.800
177.000
16,000
»'s
Thun.
lOlis
10"^
10>a
—
Continental stocks
Wedna.
lOM
::i,
Total visible supply
1.412,914 1,780,278 1,914,430 1 ,512,493
Of the alioTO, the totals o( Aiuertcan and other desorlpUons are as follows'
Amertcan
Urerpool stock
MiDni.t<«o corroii
10
9R3.700
300.000
64,000
I
ruM.
JTon.
101,
Total KiimiMMin utiK'ka
1.08-',000 1,S34.«00 1.296,000
India mttoii jill. >.it fitr ICitropo.
71.1X)0
177.000
210,000
Amer'ii c<>i i'ti ail.
Murpe 42,000
<3,000
65,000
Kiont.r.
''pe
16,000
22,000
ill
Stock
ckiii
IS ..
19l,<)7.'i
189,483
274,482
Stock ill
>vns..
18,879
16.795
44,.'578
United Shitoii uxpucu to-Uay..
1,060
3,200
1,800
:
Mahir.
|
Balliiiu>ro
'
OLonNo qnoTATioifs roa
Week ending
10>4
225,600
341,000
Total Continental stocks
ui.,
wuioii.xton..
310,700
'J
and
Norfollt
437,800
!
ikl
....iithem
iling
::
.,u.lU
1(10
17.000
ll.OJO
.
...
i>,9il0
7r>,ooo
13.000
11,000
•
wo
day of the post week.
.Vt
»i.'),000
'tuiia.
;.
8t<~k
Stock
1
H'low
i
oott-..
72V0OO
took St Uvfirpool
mookatU>ndon
t
—
-,
to*
t--^jot3y»*aa3
estimated.
The above totals show that the old interior stocks have
inrnvaatd during the week 7 »? bales, and are to-night 2,084
—
—
—
—
THE CHRONICLE.
166
has averaged 8.3, the
limitf d injury as yet. The thermometer
four
highest being 99 and the lowest 64. Rainfall for July
inches and thirty-two hundredths.
Leland, Mississip}}i.—Te\egT&m not received.
[Vol. XLI.
the shipments since January 1 shew a decrease of 401,000 bales,
The movement at Calcutta Madras and other India ports for
the last reported week and ^nce the 1st of January, for two
"Other ports" cover Ceylcn,
years, has been as follows.
Tuticorin, Kurrachee and Coconada.
more pleasLittle Rook, Arkansas.— The weather has been
showers on
ant during the week with three cloudy days and
Shipments since January 1.
Shipments for the wMk.
two days. The rainfall reached twenty-eight hundredths of
Great
Contian inch. Some portions of the State have received fine rains
Great
Total.
Total.
Britain. Continent.
nent.
Britain.
"While this section has been benefitted by what it
this week.
has
has reo-ived, much more is needed. The thermometer
Oalontta—
RiDged from 69 to 97, averaging 82.
17,000
71,400
2,000
54.400
2,000
188S
40,200
127,700
87,500
Selena, Arkansas.— "We have had one sprinkle, with a rain1884
the
of
remainder
and
the
Madras—
fall of five hundredths of an inch,
4,000
4,000
1885
week has been pleasant. The crop is developing promisingly.
600
24,600
4,500
24,000
4,5C6
1884
Caterpillars are reported to have appeared, but with only *U others—
49,400
24,700
24,700
1885
Hmited injury as yet. They are being killed by Paris green.
11,200
19,700
8,500
1884
Some sections are needing rain. Average thermometer 81,
highest 94. lowest 67.
rotal all2,000
41.700
124.800
Memphis, Tennessee.— It ha^ rained on three days of the
2,000
83,100
1885
52.000
172,000
4.500
120,000
1884
i,506
week, the rainfall reaching one inch and seventy hundredths.
Rains have bten very partial, and where none has fallen the
The
totals for the week show that the movement from
above
crops are in need of it. The first open boll was received here the ports other than Bombay is 3,500 bales less than same
Saturday, Aiig, 1. The thermonw'ter has averaged 81 '5, the week last year. For the whole of India, therefore, the total
highest being 97 5 and the lowest 68 5. During the month of shipments since January 1, 1885, and for the corresponding
July we had rain on fifteen days, and the rainfall reached periods of the two previous years, are as follows:
four inches and eighty hundredths. Average tiiermometer 81,
EXPORTS TO E0ROPB FROM ALL INDIA.
highest 96, lowest 64.
1884.
1883,
1885.
Nashville, Tennessee. It has rained on one diy of the
Sk'nmentt
week, the rainfall reaching sixty-three hundredths of an inch.
ThU
Since
Since
This
Since
This
to all Europe
averaged
The crop is developing finely. The thermometer has
week.
Jan. 1.
Jan. 1.
vteek.
trom^week.
Jan. 1.
10, ranging from 65 to 93.
9.000 1,075,000
3,000 1,206,000
7.000 671,000
Mobile, Alabama. It has been showery on three days and Bombay
124,800
4,500
172,000
2,000
6,300| 111,600
has rained severely on one day of the week, the rainfall &U other porta.
reaching one inch and si.'steen hundredtlis. The crop is
Total
9.000 793.900 13,500 1.247,0J0
9,300l 1,317,600
develop ing promisingly. Caterpillars are reported in Central
This last statement affords a very interesting comparison of
Alabama. The thermometer ranged from 71 to 93, averthe total movement for the three years at all India ports.
aging 80.
Montgomery, Alabama. Telegram not received.
Alexandria Receipts and Shipments.—Through arrangeSelma, Alabama. Telegram not received.
ments we have made with Messrs. Da vies, Benaclii & Co., of
Auburn, Alabama. ^Telegram not received.
Liverpool and Alexandria, w^e now receive a weekly cable of
Madison, Florida. Telegram not received.
the movements of cotton at Alexandria, Egypt. The following
Macon, Georgia. There has been norainall the week. The are the receipts and shipments for the past week and for the
crop develops promisingly.
orresponding week of the previous two years.
Columbus, Oeorgia. Telegram not received.
A-texandria. Egypt,
Savannah, Georgia.—-The weather has been warm during
1882-8S.
1884-85.
1883-81.
August 5.
the week, with rain on three days. The rainfall reached one
inch and sixteen hundredths. Four bales of new cotton have Receipts loantars*)—
This week....
been received this week, and we are advised of two more on
Slnoe Sept. 1
3,613;6o6
2,696".6bo
2.254,6o6
the way. The thermometer has averaged 83, ranging from
—
—
——
—
—
—
—
74 to 95.
Augtista, Georgia. The weather has been warm during
the week, with light rain on three days, the rainfall reaching
ixty-two hundredths of an inch. Accounts continue good.
Crop promises well. The thermometer has ranged from 70 to
This
Since
week. Sepl. 1.
—
This
Since
week. Sept. 1.
ThU Since
week. S&pt. ],
Exports (bales)—
239,000
299,000
1,000 253,000
XoUverpool
139,000
S9,000
2,000 203,000
ToOontiaent
averaging
88.
96i
328,000
1,000 392,000
2,000 502,000
Total Europe
'Atlanta, Georgia. It has rained on one day of the week,
* X cantar is 98 lbs.
the rainfall reaching seventy-eight hundredths of an inch.
Average thermometer 78, highest 93 and lowest 65,
This statement shows that the receipts for the week ending
Charleston, South Carolina. We have had rain on four Aug. 5 were
cantars and the sliipments to all Europe
days of the week, the rainfall reaching eighty-two hundredths 3,000 bales.
of an inch. The thermometer has averaged 82; the highest
Manchester Market. Our report received from Manchester
being 94 and the lowest 73.
We give the
Stateburg, South Carolina. The early part of the week we to-night states that the market is firm.
had rain on two days, but the latter portion has been clear prices for to-day below, and leave previous weeks' prices for
and pleasant. The rainfall reached sixty-six hundredths of comparison.
an incl). The thermometer has ranged from 69'5 to 90, aver1885,
1884,
aging 79 1.
Oott'n
Ootfn
Wilson, North Carolina.— We have had no rain all the
8I4 lbs.
8i« lbs.
32» Oop.
32f
Oop.
Mid.
Mid
week. The days have been warm and the nights cool. Crop
Iwisf.
Shirtings.
Shirtings.
IwUi.
TTpUt
Vplls
prospects are very good. Average thermometer 83, highest 92
—
—
—
—
and lowest
70.
d,
The following statement we have
also received
by telegraph,
blowing the height of the rivers at the points named at 3 o'clock
August 6, 1885, and August 7, ISM.
Wew
Orleans
MemphU. ........
Naebville...
Bhreveport
Vicksburg
Below high-water mark
....Above low-water mark.
Above low-water mark.
Above low-water-matk.
Above low-water-inark.
Avg.
6, '8.5.
Ang.
7, '%^.
Feet.
Inch.
5
Feet.
Inch.
10
11
2
13
16
9
11
2
13
5
7
6
5
17
7
3
Juno 5 8
Bww Orleans reported below
when
water mark of AprU
above
1874,
high-water mark of 1871
the zero of gauge
\8hipm€7its this wee?:.
Conti[Brit'n.l nent.
Shipments since Jan.
Oreat
ContiTotal. Britain] nent.
1,
2*0^2.
Receipts.
This
Week.
Since
Jan. 1.
1885 3,000 4,000j 7,000 214,OW 457,000 671,000 3,000 976,000
1884' 3,000 OOOOl 9.000 4-0.000 505,000 1,075,000 5,000 1,52S,000
18831
3,000l 3,000, I38,0l)0;76»,000 1,206,000
1882 lO.OOOl 7.000 17.00o'71fi,000!5S5,000 1,301,000
5
5
5
5
5
5
5
5
5
5
5
5
6
6
7
B.
d
96 9
ae 9
®6 11
«6 1l
®6 1l
as 11
aeii
37
®7
a7 1
a
d.
.-1.
s.
8% 9 9>4 5
8^ 9 9H 5
5Ui, SOa a 9% 5
808 » 9i8'5
55r
51B16
5^
5"ie 8»9
5»S
f<H
S^ie
5^
5«,ft
«
®
»
»
8^8
8»9
858
8=8 »
80i6'»
919:5
9i8'5
9ie'5
9isl5
8'8 5
9185
d.
B.
<1.
d.
8i9l»7
8ifl*7
7111*7
3
6%
Us
«'!«
«7
«7
7 »7
7 W7
7 a7
1
1
1
7
7
8i2*7
8>a»7
1
6%
«°l«
Oi-m
«"!«
«'4
1
614
1
1»«1 6i«
l>a' 6ie
National Cotton Exchange Chop Report for August
Exchange issued its report for the
untU month of July on August 7, and it is summarized as follows:
India Cotton Movement prom all Ports.— The receipts
and shipments of cotton at Bombay have been as follows for
the weet and year, bringing the figures down to August 6.
BOMBAY BBCEIPTg AWD BHIPMBNTS FOR FOUR TEARS.
Xear] Great
d.
5
5
4
10
was changed to high15 and 10, 1874, which is O-lOths of a foot
1871, or 16 feet above low water mark at that point.
9,
».
" 31 31a a89i« 6
Aug, 7 83,^a>858 5
1.
Sept.
a.
®a9i„ 5
• 12 8
SRSifl
" 19 7lii6-8'ie
•'
26 7>lJ„ 87,3
July 3
" 10 716169813
" 17 8
«8ia
" 24 3% aSBia
5,000 1,531,000
(),(X)0 1.579,000
According to the foregoing, Bombay appears to show a
deerea.se compared with last year in the week's receipts of
8,000 liales, and a decrease in shipments of 2,000 bales, and
—The National Cotton
Weatlipr conditions durinp July over the whole bolt have becu very
fnvorablu to tlio growth anil (U'velopmenf of the pl.anf. The rainfall
and temperature were, as a rule, such as were needed, whereas last
year they were abnormal. Then a drousht in Texas aud excessive rains ^
lu Alabiana and tlie Atlantic States had put the plaiit in a very critical
condition, requii-intr the most favorable circumstances to maintain its
bi>althfulnc8s.
This year there was no extreme, and the conditions
were as a rule alike favorable to b.ittom lauds and uplands. Cultivation has been pushed aud the crops haVe been laid by in good
trim, with very little loss to the stand iu cutting out the grass,
Ttie plant has grown rapidly and maiut. lined almost poifeot health,
except In looaVities, and as the rule the backwardness duo lo late planting has been nearly it not entirely overcome. There arc fears expressed
that in localities the plant is too sappy. But this seems to bi> based
upon the fact of iiast.r growth as to fruitage, which is a Hon-prinial element in .estimating the condition. Reports could ecarrcly bo better.
The percentage of correspondents who complain of dertciency in this
respect is ex (rem ely small, and there has been very little shedding or
rust. The cotton worm ha* done no damage, thoutrh It has made Its
appearance in scv,3ral localities. Under tliesa circumstances the porreut.age has been advanced to 97, against 92 at the close of Juno. Condition of crops by States Virginia, 90; North Carolina, 93; South Carolina. 97; Georgia, 98; Florida, 90; Alabama, 95; Tennessee, 91; Mississippi, 98; Louisiana, 98; Texas, 98; Arkansas, 96; average, 97.
:
CHRONICLR
TTIK
Ai
xi.L. SncTioNs.— MoaiirB. i't'icv,
ICoiJ
under Uatu of AuKunt 13, issue a circular
covi-riiiK tlie condition of cotton on July 25 in nil tlip .Stati'».
fi.ii..,v^:
Tho report embraces 1,408 replies and issuiuiii" .'•
CkinoN c'o.MinioN
& Co.,
IX
of Norfolk, Vo.,
I
'•
Wo kIioiiIiI Biiy
tliil tlin iinwiwot wiw tiont In (}.
|»oor*"*l In North O.trolinii.
Art .«
11-4 <li-(-iiIt'<lly uhiivi' Ili(> liVl'^ilv'•^
»•'
•
:jii
.
nn«l TfX:!-". find
•
1
•
tt
W
IlilllliMI
11
hi'lirr
ilf <'!ltt''. thr*
uatilfn! [H ..,: '
'"Wliliiii.
tho
jiLiUt
frnlll
tu
t
r
I
;
:
nuitjiindfr
')•
'i'-a
I
m !
im
ri'i
i
irtlilK
;
\
I
liiTii tlin
vTinrl tlif
I':
ill
cx|ivi'li'n<
COlUin
y«ar.
ti'
I
early inutrirltr of
rhivnoon tif Injtiry
:lt'0
J.
I
Attn HllJ)})>(Mt
Indooil till
of llii»
of llii> wImIi'
i>i>rll<)n
<
lunlJlliMf
bl'llllir
Am
r^tlniiilt^
of
.Vn„-I|s|
tlir
IH
II
>
tliU
ylrUl at
I
M
tliiio
Il.'.ll oiii'
wouM.
tlh'rt«ri>r>-,
)><<
preiUBtiire, ii"il »< ciui only aiy thitl If tUo iinwoiil fiivonihie iiiinliuon.i
coulliiiiu to Bvpteuibor l8t, wu tliink ili» vhitnoea oC a large vrui> vtiry
good."
Alabama AomriJi.TunAL Report.—The report of the Commissioner of Agriculture on cotton August 1 makes the condition 9."), or 10 \>er cent better than at the same time last ye.ir
South Carolina Agricultural Rei-ort.— The AgricuU
tural Department of South Carolina issued on Au(f. 5 its report
on the condition of crop for the month of July. Of cotton it
said:
"The farorable condition of the ootton crop during Juno wan
(ittncrally tliruUf;liout tlin State tliu plant
tnlui'il In .Inly,
fully ronln-
itlii>n'K
and hi'rtltliy irrowtli. aucl tlio reports Indkate one of the
Krown 111 rlts state for many yeard. In some soctloiw the
a rapid
llnisitt
crops
rains have
in others there ha-* Imen linsntHcient i-atiifull, )>iit
rvUt oidy in a few loea!! ties, and are no! i^ein-ral enonirh
the;-'
.iHbet the crop. The eorrospouileutH, wiUi .scare'-ly an
ti) ai-,
exei-ptu'ii. rci'oi t that where the crop ha.s been well wurUeil. and ihla
lias Ix-eii doni* very jiceneraUy, tlio proapeets for a full yield are vt-ry
ratt'r[)illars have appeareil in Alkon. l>^iUuKton, Oran;,'e{>ronii;*uii;.
lur^. sniiiter. Ueanfiirt. Berkeley. Charleston, Colleton and llHiiipt'ci,
but^o far li ive done no seriou-t liarin, th >n;;h farmers are appreheiHive
of danui^'.' that may be uone by the Heootul brood. The planters li.-ive
be*cnii tUf U(ie of Paris Kreen In sonio of the lower counties, and this will
uoUeiol
be re.ioi 1. d to in other svctlons 11 iiec.-snary Slight sheddlnj;
In loraliij*-'. but the crop has Bustained no injury Ir.un tliLs eause. Some
corrcsiiiiiilints say Ikat the crop
KruwInK loo much to weed and Is not
reported in Upper Carolina at
frultins; will. The eiiiidiliou Auj;. 1
101. Middle Carolina at 99 and Lower Carolina at 98; average for the
State. 99."
been
rid
'
.
U
U
unchanged. The cuusuin'*r8 are buying quite freely for
pronent wantii, and considerable stouk In being worked off.
Sellers are steady as to. price, and for the pircolt moWngf
nothing loHH than Oc. for
and He. for Ht iiid tr<l
lot a sha'ling might lie
U
Caop R5?o.ir o? the Memphis District.—Messrs. Hill,
Fontaine & Co., of Memphis, issue to-day their report for the
Memphis District covering the month of July. On cotton they
the
m irkut
—
New Georcjia Cotton. The first bale of new Georgia cotton reached Columbus, Ga., oa Thursday, Au^. 6, from Dawson, and three bales have been received at Savannah during
the week. Last year the first hale was received at Savannah
August
l.
On Sunday,
July 25, a bale of cotton reached S ivannah
from P. AV. Jones of Albany, Ga., but .the classification committee of the Savannah Cotton Exchange, acting under the
rule adopted by the National Cotton K.tchange at their convention in 1883, refused to pass it, finding the bale to be made
up of not fully matured but green cotton. It therefore has
no standing as a first bale.
Tk.xas Crop.— Messrs. Martin, Wise & Fitzhugh of Paris,
Texas, wri;e us under date of July 80 as follows
"SiiH-e eiir last report to you we hear nothing but the most favorable
lerally throU!;hout this section. The plant Is blooming and
:
that could be wished. Iflhoerjp
or disaster for the next forty days, It will lie the
have bal for many years."
M,
and the weather
is all
.lelrtent
li4r(4c.->t
New
wo
Orleans'
—
Bale. New Orleans received her
crop of cotton on Tuesday, July 23. It
came from Cuero, Texas, consigned to Messrs. H. Danneel
& Bro. It classed middling, weighed 430 lbs., and was disposed of by auction to Mr. H. D. Coleman, New Orleans, at
i0''8 cents per pound, who shipped it per steamer Hudson to
Mr. G. Schroeder, New York. The bale arrived at New York
on Tuesday. Aug. t, and on the same day was bought at auction for U'g cents per pound by Messrs. G. H. McFailden &
first
bale of the
who
Fibist
new
to Messrs. F. Zerega&Co., Liverpool.
Last vear the first bale of Texas cotton reached New Orleans
Bro.,
sbip|)ed
it
July 29.
First Bale from Florida.— The first bale of cotton of the
crop of 1885-!! raised in Florida reached Savannah, Georgin,
Saturday night, August 1, consigned to Messrs. W. W. Gordon & Co. of that city. The bale was grown on Di.Kon Bros",
plantation in Leon County, Florida, and classed strict low
middling. The bale was shipped to Messrs. George Copeland
& Co. Ne w York.
EA.ST India Crop Prospects.— By cable from Bombay to.
day we are ailviseJ thit it has been rainy but conflneJ to light
showers. Crop accounts are generally satisfactory.
Jute Butt.s, Bagji.so, &c.— There has Ijeen a fair amount
of business done in bagging .since our last, and the market is
,
n.
'"
•
1%
'or
lb.,
lO)^'.;.
-epted, but
i
rather favm-H Imyein.
for 2
on a large
are not very active,
Hitmi lota of piper
as tu (|uaut!ty, whito
(i
—
movement
September
the years named.
The movement since
and in previous years, has been as follows:
for
1,
1884,
Jtwr Beginning Beptenkber
UmUMy
tUetipt*.
1884-85.
1383-34.
1
18J2-83.
1831-83.
1.
1879-80
1880-81.
|
345,4431 343,812
326,63»
980,531
Ootober.. 1,090,385 1,046,092
ovsmb'r 1,122,161 1,030.330 1,094,697
Daoemb'r 1,101.211 1,059.653;1,112,.536
Jaooary
475,757 487,7 iO 752.32-;
261,141)
335,93^1 595,59Vebmary
Sepfmb'r
1
163,503
241.514
482,772
W
I03,37i|
35,575|
111,75.->|
281,51!)
4.5,91-!
Jane
11,35!S|
Jnly
10,191
185,523
78.501
42,299
Marob..
iprO .. ..
31.6J2
19,534
429.777 458,471853,195 963,31974,043 1,006,50!
996,807 1,020,802
487,727 671,701
291.992 672.72257,099 476,58/
147,595 28 1,2 It)
113,573 190,051
68.679 131,871
36,39U
78,572
333,613
888,492
942.272
966,464
647,140
447,918
261,913
153,02
110,00
88,435
54,258
Total year 1.72:i,913 4,803,977!.j,933,515 1,657,377 j,759,853 4,891,583
Pero'tage of tot. porti
99 04
98-32
98 68
930^
receipts July 31 .1
9779
1
This statement shows that up to July 31 the receipts at the
ports this year were 80,061 bales less than in 188;J-81 and
1,212,602 bales less than at the same time in 1882-83. By adding
to the above totals to Juh' 31 the daily receipts since
that time, we shall be able to reach an exact comparison o f
the movement for the different years:
1881-85.
I
'
'
^'r.ides have been taken at ly.i«ii;»'-:.
bugging (jualilies are held at 23-i(^2)f|C., though one lot is said
to have l>oen aili at 2o.
Comparativb Port Rbcbipts and Daily Chop Movexbtt.
A comparison of the port movement by weeks is not aoouratv,
as the weeks in ditTerent years do not end on the same day of
the month. We have consequently added to our other standing
tables a daily and monthly statement, that the reader may
constantly have lx>fore him the data for seeing the exact relative
say:
The •wcaflier during July, In the main, was favorable to cotton. The
long heated term whtcli prevailed Ihrouehout the district from July 15
to Au^. 1. however, h.id Its etTei-t on the ^rrowiuif crops, and in many
localities iliiniaire is reported from drouth to both cotton and corn,
ArkansKB and enuesaee have sulTorcd most In this respect, and some
few in Mississippi report ereps needing rain badly. The cottou plant is
foiming, bloomini; and boUlm; well, as a sea era! rule thronj;liout the
district, and Its eondition is an iinprovoinent as compared with last
vear. Pu-klng will eommeni-e toward the close of .Vu^-ust, but will not
oeoome general throughout the district until about September 10.
1
lb.
:iud
.r.ily
A
111)
till'
"(
*
tlliin
167
1883-34.
1832-83.
1881-82.
1880-81
1379-80.
Tot.Jy.31 4,723,913 1,803,'.77 5,936,515 4,057,37715,759.853 4,391.586
78
1,730
639
635
3.592
S.
AUK.I....
" 2...
8.
93
465
573
2,i31,519
••
112
8.
533
3....
2,927
2.477
2,394
" 4....
150
338
1,296
2,014
3,038
1,191
" 6....
27
8.
711
76
3.705
1.303
••
29
8.
157
1,300
1,78J
8....
1,891
" 7...
12,225
201
2,285
761
8.
1,526
4,736,534 4,806,635 3,945,435 4,662,499 3,777,306 4,901,410
Percentage of total
99-10
98-78
98-7fi
98-31
98-00
portreo'pts Aug. 7.
rotal
* 10,533 bales
Sept. 1,1331.
added as correction of receipts at Kevr Orleans since
This statement shows that the receipts since Sept. 1 up to
to-night are now 70,101 bales less than they wore to the same
day of the month in 1884 and 1,30S,901 bales less than they were
We add to the table
to the same day of the month in 1883.
the percentages of total port receipts which had been received
to August 7 in each of the years named.
SmppiNa News,—The exports
from the United
mail returns, have reached
of cotton
States the past week, as per latest
So far as the Southern ports are concerned, these
7,720 bales.
are the same exports reported by telegraph, and published in
With regard to New York we
the Chronicle last Friday.
include the manifests of all vessels cleared up to Thursday
night of this week.
Total bale*.
Nuw TOUK—To
Liverpool, per steatuers Abyssinia, 1,871
City of Kiehmnnd, l,'Jio....Etrdrla, 48....01bort, 970....
Kepublie, 1,110
To Hull, per steamer Marengo. 319........
To Havre, \^r steamer Cauada, 500
To Bremen, per steamer Sailer, 60
To Hainbuig, per Kteanur liiigla, 71.5
To Antwerp, per steamer N ..>i,n ithI, 152
Wew ORI.KANS—To Bremen,
Stag. 150
lan, .^00.... Venetian,
Boston— To Li verjiool, iiern:
t ,.ha, .-iO
To Yarmouth, N. S., per o:
5,249
349
500
60
715
152
150
t
Total.
The
501
I
50
7,726
.M.
particulars of these shipments, arranged in our osnal
form, are as f<jllows:
Ltverpool.
New
Torli.
o,249
BrtHull. Havre,
340
500
Total...
Hanibwrg.
715
Anttotrp.
Tar-
mouth.
152
Total.
7,025
130
K.Orleana
Boeton
men.
00
501
5.750
349
500
210
715
152
SO
150
551
50
7.726
Below we add the clearances this week of vessels carrying
ootton from United States ports, bringing our data down to
the latest dates:
Hew OKI.EAS8— For Havre—Aug. S-3teamer Le Chatelier, 4,305.
For Vera Cruz - .\ug. 1— Steamer E-ittib.in de Autnnano. 7-20.
Pmi.*nELPHi\— For Liverpool— .\ug. 4— Stoajuet Lord Udvo, 1,005.
Ootton freights the past week have been as follows:
THE CHRONICLE.
168
Satur.
UTerpool, steam
Do
'64*
d.
Tuet.
764*
'64*
FednM. Thuri.
''«4*
Do
M9^S2' >43933* ^®932* "43932*
c.
sail
764*
"43933*
l4a93„'
dull,
c.
Do
sail
%*
v'
Bremen, steam.. c.
Do
%*
v"
%•
3g.
c.
Hamburg, steam.c, 933»5ij'
»32 95,a* »32»5jg< *32®0l6'' »323Sl6* 932^6)6*
Do
^
^
H
"8
Ifi
"e
sa11...e.
d. 1364-732* "64-732* 13o4-73a' I'e4-''s2* •364-732* '''64-732
Beval, steam
sail
—
c.
v'
Barcelona,8team.c.
Genoa, steam
e.
rieste, steam... c.
"f4*
'32*
'33*
7S2*
732*
"64*
"64*
"64*
"64*
"e4'
ig>
—
liiVEBPOOi,. By cable from Liverpool, we have the following
statement of the week's sales, stocks, &c., at that port. We
add previous weeks for comparison.
July
—
week
bales.
Of wlii^'h exporters took
Of wliicU speculators took..
Bales American
Actual export
-.
Forwarded
Total stock—Estimated
Of wliicb American— Estlm'd
Total import of the week
Of which American
Amount afloat
^Of which American
July 21.
17.
43,000
3,000
1,000
35,000
47,000
4,000
1,000
37,000
7,000
7,000
812.000
583,000
42.000
17.000
73,000
22,000
4,000
6.000
781.000
564,000
17,000
17,000
50,000
16,000
Aug.
July 31.
7.
40,000
3,000
3"),000
32,000
5,000
7.000
751,000
28,000
7,000
6.000
725,000
513,000
19,000
9,000
37,000
8,000
2,000
1.000
,^3(i,000
18,000
9.00*
46,000
10.000
The tone of the Liverpool market for spots and futures each
day of the week ending Aug. 7, and the daily closing prices
of spot cotton, have been as follows:
Saturday IXondeiy. Ttu$day.
Spot.
Market,
>t, ?
12:30 P,M-S
Wedna. Thurtd'y
Harden 'a
doing.
doioe.
tendency.
51a
59;6
5»s
59l6
7,000
8,000
500
500
12,000
1,000
pec&exp.
W
business
doing.
5'*16
5=8
10.000
1,000
Baay at
)
2-01
Oulet at
steady.
(la-
2-fi4
cline.
^
{
ad-
vance.
Quiet
but
}
p. M.
Steady.
Quiet.
The opening, highest, lowest and ciosmg prices of futures at
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
otherwise stated.
^ff" The prices are given in pence and eiths, thus: 5 62
5 62-64d., and 6 03 means 6 3-64(J.
Sat. Auk. 1.
AoK.
Olan.,
Tues., Aug. 4.
3.
Open H(«h how.
August
5 37
5 27
6 2T
6 27
628
e
Jiin.-Feb...
5 25
5 24
6 24
6 26
Feb.-Marcta
62S
5 24
6 24
5 20
5 28
March-Apr.
531
6 31
=3
Not .-Deo...
Deo.- Jan....
Wednes., Au0.
5,
Open High Low. CUm
5 81
August
AoK.-8ept... 5 31
5 32
Bept.-Oct..
Oct.-MoT-. 5 28
5 27
NoT.-Deo.
Deo.- Jan ... 5 27
52fl
Jan. -Feb
.
Feb. -March. 381
March-Apr. 5 84
Avw., 6.
Open flijh Lovi.
Clos.
5 25
6 27
27
5 28
5 83
5 24
6 24
5 28
5
28
5 3!
AuB.
FrI.,
Open High Low.
d.
d.
d.
A.
d.
d.
d.
31
5 81
6 81
5 35
5 31
6 31
5 31
5 27
5 26
6 26
5 35
5 35
5 35
5 29
5 28
5 28
6 30
5 33
5 33
5 31
6 32
5 28
6 57
5 SI
5 31
5 33
5 28
5 27
6 27
6 28
6 31
5 34
5 31
31
il.
•1.
d.
5 2» 6 29
5 29 6 29
82 5 30 5 30
28 5 28 5 26
27 5 25 5 25
5 27 5 25 5 25
5 20 5 27 6 27
5 31 5 80 5 30
5 34 6 33
33
5
5
5
5
6
Than.,
6?7
5 28
5 31
5 34
5 31
5 27
6 26
5 28
6 28 528
5 31 5 31
6 31 534
Vtn,.
A
i.
il.
d.
To-day wheat on the spot brought rather
—
Indian corn futures have been largely affected by a speculation in early deliveries, with some indications of an effort
towards a "corner," growing out of the small stocks, the reduced quantity coming from the hands of growers, and the
almost peremptory character of the demand. To-day speculation opened dull, but improved as the day advanced.
Accounts from thegrowing crop continue good. Indian corn on
the spot has advanced, but the higher prices have reduced thevolume of business. To-day, however, there was more doing.
for export at a further advance.
DAILY CLOSINO PKICES OF NO. Z MIXED COKN.
Sat.
Mon. Tues.
Wed. Thurt.
5-.ii9
In elevator
5i3g
53
54
6-z-'a
52 'a
5214
August delivery
5319
a-iH
5438
September delivery
52 '8
52%
5318
6314
5413
October delivery
5314
November delivery
December delivery
oi^
5S7
5 27
5 28
85
5 84
681
5 28
5 28
5 31
r.
Ctot
d.
6 35
5 35
5 33
dull.
9
;
Wheat—
SpnuK,o«r bneh.
Spring No. 2
aiifl
87
92
a>l
•ce
02
9.5
Ked wiiuer, Au. 2 100 til Oils
86 31 01!
Bed winter
White
Oom— West.
mlxi»d
West. unx. Nu. 2.
West, white
West. Yellow
WulteBoiithurn..
Yellow Huuthern.
Wed.
3J14
rh'!rs.
31%
33 '4
J2^a
:il%
31=8,
Fri.
31%
311s
31%
mor&
4 85
90 «103
52 O 56
51 a 5513
54 a 58
53 ® 57
70 a 73
54 9 57
G4
State and Cauaila... 6h
Oats— Mixed
33
Wnlte
37
No. 2 mixed
No. 2 white
Barley Malt-
3 20>
3 35
3
40
66
71
o 37
a 43
3d» 41.
34iii »
40
Canada
sW -rowed
two lowed
State,
State,
a
a
5 654 50
85
80
70
8! 00«
a
8.5-
a 7>
The movement of breadstuffs to market is indicated in the>
statements below, prepared by us from the figures of the New
York Produce Exchange. We first give the receipts at Western
late and river ports, arranged so as to present the comparative movement for the week ending Aug. 1 and since July 28for each of the last three years:
035
MUmnkee..
26,878
2,303
1,025
3,568
16,400
2,015
Becttptf atr-
Jtour.
Wheat.
Oom.
Oaf.
BarUy.
Byt.
BbU.19eibr Butlt.eon>, BiuKSKIb! Bu<A.Sa lb! Buih.i8lb: Bm)i.5X
Detroit
Cleveland.
..
St. Iioula ....
they have consequently to
3j7g
31%
amj
OBAin.
rtye— We.stnm
Toledo
foreign reports variable
Tiies.
3i^
31
bbl.
535 535 533
The wheat market has been only moderately active for
sp3culation, and the fluctuations in prices are comparatively
light.
Crop accounts have been very contradictory and
3'.\
30^8
31I9
SiHKirnue
4I,88S
;
....
...
....
FLOOR.
$2 60« 3 50 rtoi ti'n com. estra.n.. $1008
300<* 3 85 Siaiueru bttKerg' »ua
Surluj; wheat extras. 3 30 a 4 00
family brands
5 009
Minn, clear and stra't. 4 00 a 5 00 Bye flour, supertlne.. 4 0U'»
Wintershiyp'sie.xtras. 3 O.'^w 4 oo
Fine
300a
Winter XX & XXX.. 4 259 5 50 Oorn tneai
4 8-ia 6 Oi)
Patents
Western, &«
3 li»
3 75a 5 00
Brandywlne, Ac... 3 353
City »uipi.liigex
I^e
Chloago
Friday, P. M., August 7, 1885.
The flour market has developed a steadier tone supplies
are very small and the cooler weather gives confidence to
buyers. Still prices are no higher and some grades of rye
flour are cheaper.
51
The following are the closing quotations:
5 31
5 33
BREADSTUFFS.
51%
53!St
freely.
635
5 33
541s
54l8
53=8
01
Barley nominal, and barley malD offered
5 35
5 20
5 28
5 28
5 80
5 32
5 31
5314
52=li
..-.
Sfon.
Sal.
August delivery
September delivery
October delivery
5 35
5 30
5 29
5 29
53 14
52=8
DAILY CLOSING PRICES OF NO. 2 OATS.
585
530
5 29
5 29
53%
5a
rri.
54ia
6412
The speculation in oats has been very brisk, and August
options show a smart advance, with the whole range dearer.
Today oats for future delivery were fairly active at full
prices.
Oats on the spot have declined under a very duli
trade, and there is some irregularity between prices of old and
new crops. To-day oats on the spot were lower and unsettled,
Rye
steady.
Ang.-Sept...
8ept.-Oot...
Oct.-NoT..
03.
DAILT CLOSINO PRICES OF NO. Z BED WIKTEtt WHEAT.
Sat.
Man. Tuet.
Wed. Thuri.
Fri.
In elevator
9913 100
100
i)9^
lOOU 101
August delivery
98=8
9913
9914
9!>5i
100%
991a
September deli rery
1
101^ lOlia 101% IOII4 102i«
13
October delivery
lOSM 103=8 103=8 103 la 103S8 10414
November delivery
105 M 105=8 10.) "a
105 14 10cii4
lOS:'^
December delivery
107 14 10719 107:'8 107H 10718 108%
January delivery
log's 10878 10834
o
o
Market,
Good
More
Bales
Market,
12:30 P.M.
Fnda'/
Not much
Mid. Upl'ds
Mid. Orl'ns.
J^iuret.
$1@ |1
1
'32*
Antwerp, steam. .c.
* Compressed.
Bales of the
sale at
better prices,
sail....(!.
Amst'd'm, steam.c.
4
extent neutralized each other. Today the speculation opened
but became brisk at firmer prices on the reports from
Afghanistan. Wheat on the spot has met with some demand
for export, while millers have taken hold pretty freely. A
considerable portion of the supplies was composed o£ new
crop Southern red, the better qualities of which had a ready
Fri.
'64*
sail... (J.
Havre, steam
Do
Hon.
[Vol. XIA.
Peoria
315,60s
104.403
258.556
93.010
32.300
373.900
1.138,231
0,160
288,741
03,880
8,530
93.795
188.778
119.321
1,379,572
a.lla.7I5
1,611.738
i.4a9.9sa
1,518,574
2,215,921
702.S65
1,155,170
03,795
188,778
1.379.572
1,811.7.38
1.124,696
2,112.715
l,48(>.9.Sli
149,321
1,54\574
2.215.021
702.535
1.155.470
Duluth
Tot.wk.'85
fmie wk. '84
fame wk. '83
Since July 38
1884-5
1883-4
1882-3
4.320
57,849
4,322
8,0lJo
339,040
053.909
28,700
8.714
10,008
575
Ibe
2.S,3I5'
1,480
2.551
10,884
26.000
28
237,799
153,710
1,230
1,200
8,200
1,124,890
13,937
20.942
18.895
36.846
00,319
81,133
13,037
20,042
86,S4»
60,319
18.893
81.13 a
The exports from the several seaboard ports for the week
a great ending August 1, 1885, are shown in thejannexed statement:
August
from —
K«w York
Wkaai.
Oom.
BHfK.
BHth.
Cs8,778
110,201
22,267
3\!'H7
L3i,115
10.'>,074
Boatou. ..
Montreal.
THE CHRONICLE.
8, 18t 6.)
174,210
Phlladel..
84.000
Baltliii>re
Kleliiu'd.
N. Oi rim.
Ry:
Ptat.
B'lth.
Buih.
B'uK.
53.90.-i
6^,833
3.836
11.175
8.171
68,714
120,413
..
3.-.6
423,884
912,532
94.664
137,547
302.1 S2
110.567
2,378
124,249
66,288
We
The
destination of these exports is as below.
'Correspond iif{ period of last year for comparison:
ExporlK
Keek
ias5.
to—
Cn.Klng.
Aaij.
Week.
Any. 1.
2.
Bblt
BbH.
1884.
Week.
1885.
1884.
Week.
Week.
Aug. 1.
Aug.
2.
Buf^.
BH»^.
55,(iH7
73,010
38.i,2^.'i
1,510,132
Couliii'iit
1,071
691,842
9.!<92
3.W01
8.922
19,226
4,747
38,599
6.& C.Aiu
W. IiKlles
1!>,7>I0
Brit, col's
Otli.o'a'ta
7.01:7
671
7t>l
Total...
04,664
U0,5li7
1,930
add
tlie
Oom.
WKtal.
Fiour.
ifor
1885.
Week,
Auij.
1884.
Week.
1.
Diitk.
518,002
329,523
Allij.
2.
BusK.
101.411
l.'^9.(i2.i
28.430
11,633
54,91.1
8,730
40
423,831 2,204,974
1,322
"i'.h'ii
912,532
302.182
By addinf; this week's movement to our previous totals we
'have the following statement of exports this season and last
fleason:
Hour.
Export* §inc*
Aufl. 28, to-
18S4-5.
at/y.
Auj.
I.
Bbl:
on. Kingdom
Oontlnent
B. & C. Am..
1883-4.
Atlri.
2.
Bbli.
All}.
1.
2.
Awj.
1.
Ahq.
2.
Biuh,
BmK
Bluh,
Bush.
4,635,887
25.873,411
27.086.672
34.078,423
28.285.555
sn.tm
W.324.303
50,028
18,156.319
I2.0W.0IO
610.413
8.200,373
1.078.435
781,372
518,055
38.909
2.16
1,473
38,383
8,010
1.923.073
825,123
640.2SS
59.808
40,455
20.0.'!2
92.579
8.184.032
8,970,387
45,295,833
45.2lJl,5fl9
19.4(10,662
ooaiitr.'s
Total
1884-8.
aOS.992
Indies.
The
188S-1.
822. 7B7
Brit. Col nien
0th.
1881-5.
5.738.032
. .
West
Cbm.
jrhtat.
1883-4.
25 to Aug. 27 to Aug. 25 U> Aut.trrto .lua. 25 to AUd. 27 to
Alto.
1,400
537,431
91,138
4'29.S0i
I42,U60
125,672
3fi ,,81
2,808
m
supply of grain, comprising the stocks
granary
-at the principal points of accumulation at lake and seaboard
ports, and in transit by rail and water, August 1, 1885, >vas a
follows:
visible
Oom,
Wheat,
tn
itore
at—
Hew York
Do
afloat (est.)
5B0.595
500.831
3,000
41,108
1,071,758
452,458
87,333
1.015
1.810
11,281
25,066
163,000
63,779
1,811
125.000
l,301,t91
500 904
114,598
13,315
336,003
5.250
15.494
178 223
170 376
5,500
-Albany
800
Buffalo
3,290,411
OhlcaKO
14,76j.(J4S
Newport News...
Kichmoud, V»
91,912
Milwaukee
3,32K,774
DulutU.
Toledo
Detroit
2,658.913
968.312
231,2ti7
Oswego
8t. Louis
Cinciimatl
53,133
Boston
Toronto
Montreal
Philadelphia
Peoria
26.6i)7
187,815
494,1)63
1,137,803
1,343
Indianapolis .....
107,103
Kansas City
7(j8,3'29
Baltliuore
Do atloat
Don u Slusisslppl.
On rail
On lake
Ou caual
Tot.
Tor.
Tot.
Tot.
Tot.
Au«. 1.'85.
July 23.'85.
Au«. 2.'84.
Aug. 4.'33.
Aug. 5.'82.
OcUs,
bush.
bitsh.
4,707,372
248,545
l,41s,945
26,919
138.672
1,397
1,422
199,220
27,813
43.098
157.480
14,468
9,000
6,971
Barley,
bush.
Xye.
biish
5.374
26,S0l
1,000
5.i)(]0
21,027
12,339
391,8(>7
1,403
6,323
4=.H,H32
917,926
7u5,l64
38.407,918 5.753.304
37,5 39,325 6.827,637
15,073.971 4,336.038
18,7.30,935 10,917,788
16,139,037 6,193,078
there was a steady, though less active, demand for wool and
merino hosiery and knit underwear.
FoKEiGN Dry Goods have shown further improvement in
first hands, but the demand was irregular, novelties of all
kinds having been more active than the moat staple fabrics.
Dress goods were in pretty good demand, as were fine and
medium grade silks; but low-priced silks ruled quiet. Men'swear woolens were distributed in fair quantities on account of
back orders, and velvets and velveteens met with considerable
attention.
Linen goods ruled quiet, and white goods, laces
and embroideries were lightly dealt in; but there was a steady
business in hosiery and gloves.
Importations of Dry Goods.
The importations of dry goods at this port for the week
ending August 6, 1885, and since January 1, and the same facta
for the corresponding periods are as follows:
726
71,000
2,034
12.870
10.807
6,642
28,000
6,279
10,714
0,H9l
9,8J9
1.076
2.678
129,192
4,8s9
1 in
eg
25,749
317,3.=i2
27,100
24/305
2,447,093
106.482 197,408
103.736
130.740
210.0 J6
183.997
331.919 1,593,891
57,542
601,965
2, 312,.'^66
1,771.6J3
3,501.671
1,672,077
Ent'd
Silk
E
Flax
Wool
Cotton...
Frldav. P. M., August 7 ,1385.
The dry goods market has displayed a moderate degree of
business having been of fair pro-
Flax..
Wool..
811k
aanuiao
Vianofao
811k....
Hlgoellai
Cotton
Wool
Vlanufaotar
Total
B
B
ll
f
S;
1
si
;
:
;
;
;
;
.
:
:
:
;
;
1
1
S
O
M
CO:;.
to<ico*.o
ca
ts
1
5«
11
fnni
"«:
**
<j^
to^
10**
c-M
10
to
cO
M(C-<CO
o-.cs
TO a; 00
0-.X
C5b
o
too
Cd
o«
13 Ml
(O
Ci
a
Ijl-o
«!-;;:
wm
Om
coio-l.^c;t
o
Jj
OO
35^0
fll
X
CnM
01-1
MlOrfkCOC;!
c; »- Ci -1 J'
*.
i: 10
a
b ou
to
*J
o
^
to
OB
*•
1
MW
1
-131 C;.
COD
'fc
(f>.
'HtVt
<JOOtO^
o-.-.
OS in
)-«W*.tO(^
9i
P9
EB
031
b'jD
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t-t
ot To to
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to,-^;-*"W
CK CO 10 -- -^
c;*
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(T
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r X
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X
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-to
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t.1
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m
OD
MtOCdtOitki
^f-
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b«x**V-b
o
o rf-o*-iJ«i!i
o ^^lU.^^
rfk
:;>
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-^yi-j^
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oxoa-i
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^ t^ <*
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to
ifc *«.
K-
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c M to m -0
^ OXp-X
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to
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h9
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cr.
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r
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tn
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-iot;jio:m
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i
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^
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to
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a
QD
^-OMOOO
tfi.
OS
W to X ^ OS
i
1
OS
^T*yr^^ i XS- i
a
u XtOOiOX
3
9d
> n v*it^coiueo
*J sg
y<
to ^« w — to
^ a CO X X -^
O V
MO&.Xr^
-vl
--1
tf».
ati(^
b
M oi x&3^^eoos
a; W ^
a Om
<iwwooo
s w
to
i
E
<l
to
:
O
cccoosoto
oto
:
3
<yui
CiOi
*-to
00
i
!
S
t-MlO
»t.
1^
iiiii
i-ij-i-too:
OS
iF^a
<i*j
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To'-x*x»
00 OS
M
,
1
i
t-tcowwaf
(5
oos
,"'
1
:
3
n
g
tot-"
•-'
Ti
3
ifc -.0
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etc
QO
b-'*.aco
f^O a » xco »
was a good steady movement in many
-101 10 CO 00
deecriptiona of fall and winter goods on account of former
OD
05 -•
transactions. There was no great snap to the demand as far CO OiOO
».tsco<i
M-* -IQXCOtO
as wholesale buyers are concerned, and their operations war e
« 10
conducted on a conservative basis; but there was no abatetnan
M lO
© oai
%
lOOloQOO
of the improved feeling developed of late, and anticipations of i'
qd'— cobi^
a moderately good fall trade seem to be entertained in all
50^ O«y-lt0 31
oco OOOUOIO
directions. Tlie local jobbing trade was somewhat more
-M
CO
active, owing to the arrival of a good many retail buyers from
^00.-«
CCtO
M
loa CO^i(^'.OlO
Texas and other remote parts of the country; but business in b (t** ODCncoa
n*
»-co
^»Wit-ai
this department, as in commission and jobbing
h-ltCi-jCEt.^
circles, was
checked to some extent by the impending obsequies of G.^nerai e>| I^H.
o -lie ^M10(0 4^
Grant. The tone of the market for staple cotton goods hae Sf 'am
W -1 *.
*•
to*.
— ai
CO c^-c
zjii^aooizji
shown decided improvement, and some descriptions have ."i
01
'o'a>
©*-(0 0''JI
:
ClCi
•^»
>•
Ki:OQO 2 to
10 to
10 03
i
.
to
^
a
w^
o X ^ o to
M MM M
oa
t-
05
M
b
:
•
:
to;7»
o ro
Jc"c(S
JJCCC e
C0*.-13CT
ou
o;;i
-4
o:
»-*>.
cox
...
..
I
-ICO
Total
for
1
portions, while there
appreciated, while prices are firmer along the whole line,
Flax..
Itlsoellaneo
11 1»
28 315
282.016
THE DRY GOODS TRADE.
new
m
*-
109,744
516,197
761,173
778,021
Great Britain. 810 to Peru, 281 to U. S. of Colombia, 138 to
Venezuela, &c. As a whole the market for staple cotton
goods was quiet, but the recent advance in print cloths hu
been the incentive to more liberal transactions in low-graie
brown and bleached cottons, some makes of which have appreciated about 3}^ per cent. Fine bleached cottons were
fair demand Hnd tinner, Lonsdale 4-4 shirtings having been advanced to 7^c., and some other branis in prop >rti in, Urowa
goods were more freely taken by converters, in anticip ition of
higher prices, and there was a fair busines.s in cotton flinnels,
colored cottons, scrim curtains and table damasks. Print
cloths were in better demand and decidedly firmer, closing at
3i^c. plus 1 per cent for 61x648 and 2 11 16o. for 58x609.
Prints continued to move steadily, though in relatively small
parcels, and there was a fair trade in dress ginghams, crinkled
seersuckers, and piece-dyed figured cotton dress fabrics.
Domestic Woolen Goods.— There was a large movement
in heavy cassimeres, worsteds and overcoatings in execution of
back orders, and a fair demand for small duplic tie pirceU of
such goods was experienced by the mill agents. Spring
worsted suitings have been opened by leading a^^Mrits with
remarkable success, orders for such makes as Riverside,
Oswego, Wanskuck, Dolans, etc., having already betri placed
to nearly the extent of production. Satinets and Kentucky
jeans were in light and irregular demand, and a moderate
business was done in cloakings, repellents, Jorsey cloths and
stockinettes.
Ladies cloths, tricots, S'lft wool suitings and
all-wool and worsted dress goods continued in gool demand,
and there was a very fair movement in shawls and cloth
skirts.
Flannels were in steady request and firm, and
blankets were.in pretty good demand and dearer in exceptional
cases.
Carpets have met with a fair share of attention, and
5;i70
460.1.00
activity the past week,
ruled steady.
Domestic Cotton Ooodb.—The exporbi of domeatios for the
week ending August 4 were 7,019 packages, including 5,349 to
2,204,974
fetal ir'k.
Domestic woolen goods also were firmer, and such price
changes at occnrred were in an upward direction, while
nearly all other fabrics of domestic or foreign manufacture
£,D77
.....
Vme time
1884.
Oat$.
B>1».
14.78.5
15,581
K. News.
Wlour.
1(59
•
1
1
THE CHRONICLE.
170
NOTICE.-SALE OF THE TEXAS &
ST.
LOUI-i RAILWAY IN TEXAS, conslstiDK
of 31535 miles of road, the rolling Block, franohite,
and
all Its
property.
United States Circuit Court.
Fifth Circuit and Northern District of Texas, at
Waco.
The President of the United States of America,
To J. M. MoCormlck, Special Master.
A final decree was made and entered
In the causii So. 14. Chancery t lie Central Trust
Company of New York, TrusKe, Compliiinaojt,
8; Louis Railway Company in
vs. Texas
Texas, tt <rJ , Defendants, ml he United States
Circuit for the Norlhciu District of Texas at
Waco, on thoSlSd daytf Apiil, A. D. 1885, ordering and direetinK the clerk of said Court,
upon application of J. Rl. McCormlck, Special
Master appointed in said cause, to issue an order
of sale of the Texas A: St". Ixiuis Railway Company in Texas and its property as described
In said decree; and
Whereas, Iho said Special Master has made
his applicatiiin for such order of sale, now,
therefore, in pursuance of said final decree, I,
J. H. Fmks, Clerk of the Circuit Court of the
United S tales for the Northern District of Texas,
at Waco, do hereliy issue the following order of
sale In the above entitled cause, to wit You
are hereby ordered and directed to seize the
Texas & St. Louis Railway, estimated to bo
31535 miles of completedralli'oad, with Us Eastern terminus at 'Texarkana, aud its Western
terminus at Gatesville, Texas, together with all
Us ]>roperty. the said rallroatland property now
In poss( sslon of 8. W- Fordyce, Receiver, ap
pointed in the above entitled cause by this
Court, and exercising said trust And after giving at least 60 days' notice of the timeand place
and terms of such sale, aud tto specific iiroperty
to be sold, publishing such notice In two newspapers in the city of Tyler, Texas, and in one
newspaper in the city of New York, vou will
proceed to sell at public auction in the city of
Tyler, Texas, all and singular the lands, tenements and hereditaments cf the said railway
corporation, inclndiug all its railroads, tracks,
right of way, main Bues. branch lines, extensions, Hidings, auperslruitures depots, depot
grounds, station houses, ergino houses, car
houses, freight houses, w"ootl houses, sheds,
watering places, workshops, machine shops,
bridges, viaducts, culverts, fences and fixtures,
with all its leases, leased or hired lauds, leased
or hired raUroads, and all its locomotives, tenders, cars, carriages, coaches, trucks and other
rolling stock, its machinery, tools, weighing
scales, turn-tables, rails, wood, coal, oil, fuel
equipment, furniture aud material of every
,
&
.
name, nature and deserli>tion, together witi. all
the corporate rights, privileges, immunities a d
franchises of said raUway corporation, inolui»
ing the franchise to be a corporation, and all the
tolls, fares, freights, rents, incomes, issues and
profits thertof. aud all tlio revcrtlon aud reversions, remainder and remainders thereof, excepting, hon-ev< r, and reserving fi-om the lien
of said uioi tgage under which this -ale is made,
all land grants, land cortiflcates and lands received by said corporation, as well aa all lands
acquired by donation whit h are not actually
occupied aud Inufe by ir, or necessary to the
operation and main' euiinco of its lines of road.
The said entire 3 IS^s miles of railway, together
with all the rolling block and property as hereinbefore described, to be s jld as au entirety.
The sale of said railway and property Is made
in foreclor-ure and satlstaotion of the following
liens iherton, as described in said final decree,
to wit:
A first mortgage nen executed to Henry Whelen
and Henry G. Marquand. Trustees, June 1, A. 1_>.
1880, ou 268 miles of said railway, and all Its property
from Texarkana to] Waco, to secure ?8.000 00 ut
first mortgage bonds upon each mile of completed
road, to wit: 18,128,000 00 with Interest
ut,
8 per cen-
tum per annum Irom the issue and delivery of said
bonds, the same decreed to be a first lien upon 200
miles of said railway and property as aforesaid; also,
afirstnriortRBge lien executed by said Texi;s & St.
in Texas to the Central Trust Company of New York, Trustee. Auffuet 1. A. I), 18SI. on
the entire railway of 315 :^-5 miles, atjrt all its property, to secure its " ceneral first mortgage si.x percent
forty-yett<-KOld bonds'' for f 1.000 00 eacii, bearing six
ner cent interest, the interest besinnlng to run Juno
Louis Uaiiway Co.
1, 1881, ?1,8I7.000
11.
A second mortgage
lien executed by the Texas A
Kailway Company in Texas to J. W. PhilAbraham WoItT. Trustees, dated June 1,
A. D. 1830. to secure its "land grant and income
mortgage bonds" for $1,' 00 00 each, bearing six per
cent interest from date, and not paid unless earned,
and amount issued $8,000 00 per mile of completed
road: said bonds decreed to hold a second mortgage
Hen upon said 206 miles of railway ard property deSt, Louis
lips and
Notice is hereby given that I, J. M. McCor
mlck. Special Master in Chancery, under and by
virtue of a certain order of sale issued out of the
Circuit Court of the United States for the Northern Di-trict of Texas, directed aud delivered to
me, Tvill proceed to sell at public auf tion for
cash, before the court-house door in fiio city of
T^ler, Smith County, Texas, on, to wit, the
fourth day of AugniBt. it being the first Tuesday
in August,- A. D. 1885, between 10 o'clock A. M.
and 4 o'clock P. M., all that certain properly
described in the followiiiK order of sale, and
upon the terms and conditions named therelu.
Whereas,
the basis of a prorated mileage of said entire road of
315 3-5 miles as hereinafter described.
OOot said bonds having been issued
and now outstanding the amount autborizod,
9^12,-
scribPd In said first raorlcace. and amounting to ^2,12.8,000 00 besides iuterest; tho said decree in no
wise affecting the lieu held by said bonds and mortgage upon the lands described therein.
A second
mortgage
executed by tho Texas &
Texas to the Central Trust
Trustee, dated Aug. 1. A. D.
1881, on the entire line of its railway, to secure its
feneral first mortgage land grant and income bonds
or $500 00 each, betiring six per cent iuterest from
June 1, 1881, due and payable only when earned, $1
817.000 00 of said bonds decreed to be outstanding,
of which $1,197,000 00 decreed to be a fourth mortgage lien upon saii 206 ndlcs of said railway acd its
propert,y. and $620 00.) 00 of said issue decreed to be
a second mortgage lien on said 49 3-5 miles of said
railwayand Itspropety: bi:t inasmuch as the said
entire $1,817,000 00 wen) Issued at the same time
under the same lien of the same series, and without
notice to the purchasers of any difference therein,
the sain 81.817.00J100 is decreed tosliaro In the proceeds of 49.S-5 miles equally upon the basis of mileage as the 40 3-5 miles Is proportion to the 206 miles
of railway and its property as hereinafter described
in the terms of sale.
St.
Louis Railway
t
lien
o in
Company of New York.
The terms and conditions of the said sale In foreclosure and satisfaction of the aforesaid liens In and
upon said 815 3-5 miles of railway and property as
decreed to be sold to the highest bidder, are as follows, to wit:
1st. The sale shall be for c.ish. and tho purcha.ser
at the sale shall then and there pay over to tho
Speclsl Master the sum of $J:0,000 in cash, and the
remainder of said bid upon confirmation of the sale
and delivery of title, as nereinafter provided.
2d. Upon delivery of title the purchaser shall pav
in cash or debentures and claims ordered to be paid
by this ourt as a prior lien to the first mortgage
bonds, such sum as may bo ascertained by the Master snfllcient to pay off and satisfy all costs, expenses, disbursements, fees of attorneys and solicilurs,
all debentures issued or paid out, or that mav be
issued and paid out. and all claims now adjudged or
that may hero.-iftcr bo adjudged under the orders or
decrees of this Court, to be entitled to bo first paid
.ind satisfied out of the proceeds of sale before the
first mortgage bonds, and 11 any claim remauis unsettled and unascert ined at the date of theconflrmati'tn of sale and delivery of title to the purchaser,
which should bo und may afterwards be adjudged to
be entitled to be first paid out of the proceeds of sale
l>eforethe said first mortgage bonds, and the cash
liaid in shall not bo gufliotent to pay off the same, the
said claim or claim? shall be ana are hereby decreed
to be a first and prior lion on said railway in the
hands of the iiurchaser, and may be so enforced by
the fu-ther order (»f this Court.
3d. Afterfully paying off said claims entitled to he
first paid out of the proceeds of sale in cash before
the first mortgage bonds, the remainder of said bid
may be itaid in first mortgage bonds hereinivfter ascertained to be a first lien on said railway and property,
and whereas 12.128,000 of Vrst mortgage bonds wei-e
issued upon and hold a firsi lien on mi) miles of said
railway and proporty.and 4620.000 of tho general
first mortgage bonds neru Issued upon and hold a
first lien on 4118-5 miles of sa.d railway, und §1,197.000 of said general first mortgage bonds were issued
under the same deed of trust and upon tho whole
line and entitled to share In the proceeds of sale on
49 3-5 miles of said road equiUfy with tlie others,
making if 1.817,000 of said bonds equally entitled to
share in the proceeds of sale of 49 3-6 miles holoiiig a
first lien thereon, subject to the prior payments hereinbefore provided.
It Is therefore ordered
and
directed that tho remainder of said cash bid.
after the aforesaid
payments entitled to be
first paid,
bo divided into two parcels in the
iroportion and on the basis of the mileage of
tie road sold, the total line of road sold being
3153 5 miles, and said llensof said first mortgage
bonds, to wit. the first moitgiige" bonds being on 266
miles and tho general first mortgage bonds being upon
49 3-1 miles, tho remainder of said bid shall bo divided so as to set off 266/315 3-5 of said amount*
and 49.S-5/315 3-5 of said amount $
.and the
pnrchiisrir may pay said sums In said bonds respectively, the larcer amount may be paid In said |2,128,000 of bonds and interest pro rata accordingly as the
percentage may be, and the smaller amount may be
p lid in t lie same m.-inner bv the $1.81 7.000 and interest of tiio general first inortgago bonds pro rata accordingly as tho percenluk'o may be. and if any p.irt
of said bid remains uriiMid after the application of
pjyments hereinbefore provided, tho same shall be
paid over to the Master In cash, to be hereafter
disl ributed and apportioned according to theeqiUties as established and determined bytnis decree.
4th. It is further ordered thattbesaid Special Master is authorized and directed, in the event that f lie
sale advertised at the time and place shall for any
good and sufficient cause fall to be made on tho dav
named, that the said sale shall then and there bo postponed by the said Special Master, or some person designated by him, and to be postponed in his name and
by his authority, to a future day, not exceeding thirty
days thereafter, and said postponement shall be
published In at least one newspaper in the city of
Tyler during snldadjoninmentof s.le. in addition to
the verbal Doliee given at the time and place of adjourning said sttle, and the sale shall be made on the
day to wliich it is adjourned aa hereinbefore directed.
And after the sale, payment of the purchase monev
as directed, report of sale to the Court and confirmation thereof, the s.aid Special Master will make
a good and sufficient title In fee simple of the
protierty so sold to the purchaser or imrch'isers.
which title shall be f eo of all encumbrances and
shidi be a perpetual bar to all cLlims or equities, or
equity of redeiiipt on 01 :;n v claim whatsoever to the
said property to sold bv ....lid railway conHjr.ation or
those claiming under it and the said purchaser or
purchasers shall not he l.jund to seo that the purChase money Isproperlv aoplied.
Witness tho lionoraM,!' Korrlson R. Waite, Chief
Ju.sticeot the Supremo Court of the United .-tates,
and the seal of the Circuit Court thereof, at Waco,
this 11th day of May, in the year of our Lord eighteen
(
.
60000, to be issued to each mile of completed road,
making {020,000 00 Issued upon 4D3-j miles of said
railway from the end of sal 20(1 miles to Gatesville,
Texas, and said ^1"3 ',000 OO deci-eod to be and to bold
a first mortgage lion on s.-ild 49 3-5iuiles of railway
and proporty.and the balanceof said ^1.817.000 00. t(j
wit: »1.I97.(K)0 00 is5.-ned upon saiil 200 miles of lailway and property, was decreed to hold u t bird mortgage lien only on paid 266 miles of railway and property; but Inasmuch as tho same were issued under
the same deed of trust and intended to hold tho
same Hen as the f020.0tX)0.i, and were sold and de- hundred and eiKhty-tivo andof American indepenlivered without notice to be pnrehasers of any disdence tlie 109th year.
tinctive difference between th.-3 bunds, they in fact
^'^•'"'•1
J-H.F1NK8, Clerk 01 sail Conn.
.,
being of the same scries, it was udjuQ^ed and decreed B
» A schedule
and inventory of all the property dethat the 1.197 bonds and tho 020 uBnds should be scribed in said order to bo sold on the 4tli
of August,
placed on the sumo footing and entitled to the same )88o, will be filed in tlio nfllco
of the Clerk of the
iqaltiea. and are decreed to share in the proceeds of
United States Clrcnit ('out at Waco; also In the
S8.
•-.e sale of 49 3-5 miles of railway aud property upon
office of Mes«rs. Uerndon &. 'Iain, solicitors for
l
t
,
com-
."hown
the above
d«T the abo?e'del??thirt''f!?,'^l^i,"„'!L',?>1'"'
"i\ ?.°?''
'''"H"
"'" *"= '"'"
^^''^'^
'"^ ^""'^ """'<^ " <"
.Dated
An.n.rJiwJi"'^''""
1885.
, J^Biea Augusn,
.,
_
plainant, at the city of Tyler, Texas, subject to be In.
spected by all persons desiring to purchase at said
sale, and the same
day of said sale.
will be exhibited
acd read on the
1
(
'fbe said sale of tno aforesaid property is to satisfy
certain costs, expenses, disbursements, attorneys'
fees, claims ordered to bo liaid, debet. tures, other
claims and Hens described and mentioned in said final
decree and order of sale: and the amount of cash required to bo psid on the bid for said property as provided in tho said final decree at d order of salewlUi
be ascertained so far as possible and filed with the
said schedules and inventory (.f property, subject to
tho Inspection of purchasers before said sale.
-»All information In possession of the Master concerning the property to be sold, and the debts tigalnsti
t he same, will be given upon application.
/
J.
M. MCCORMICK,
A-
Dailas, Texas. May 11, 1885.
Special Master.^
BlTTLKR, hTlLLMAN & HUBBAKD,
llEiiNDON &. Cain,
Solicitors
for
Complainant.
^
^
'TO CREDITORS OF >THB
NOTICE
Texas & St. Louis Uailwa^ Co.mpant in
Texas.— Notice is hereby given to all creditors
holding claims entill. il to be paid out of the
proceeds of tho sale of tho Texas & St. Louis
Railway iind its property in Texas, to occur
Augmt 4, 1885, at Tyler, Texas, nnd to all persons owui'ig or hobllng bonds or other securities anil il.iis
upm
said property, entitled to
share in tho proceeds of said sale under the
final decreo rendered in said cause No. 14 in
Equity, to forthwith deposit their claims and
written momonmda in pursuance of and as required by a certain order made by the Hon. Don
A. Pardee, Judge of the United States Circuit
Court for the fifth circuit, as follows, to wit: —
" In tho United States Circuit Coiu-t for the
Northern District of Texa.9, ut Chambers, Jimo
1 6, 188,5.
This dny came ou to be heard tho applioation ot J. M. McCoi mlck. Special Master to
Chameiy, appointed by the United States
Circuit J.idge for the Fifth Circuit, to wit: by the
Hon. Don A.Parilee.lu cause No, 14, pcndingin
tho United States Circuit Court of said circuit
and district a t Wii 00, Te> as, wherein the Centi al
Trust Co. of New York, Titiste", is complainant,
and the Texas <fe St, Louis Company in Texas,
It al, is di fendant, and tho same being considered and It appearing to the Court that a final
decree was euten d in said cause April 23, 1885,
foreclosing certain liens lu favor of the holders
of ccrtaiu series ot bonds issued by said defendant company upon said railway and its prop01 ty, and in pursuance thereof an order of sale
was issued under said decree directing said Special Master to sell said railway and all Its property, 10 wit: 315 3-5 miles of road, rolling stock
and property In Texas, ou tlic tenns named
therein; ana it furl her appearing tliat sattl Special Master has advertised said railway and
property to be sold at the City of Tyler,
Texas, on the 4th day of August, 1885.
And allowing a part of tho bid for said property to be paid lu cash snfflcient to cover all
Claims decreed to bo entitled to be first paid
out ot the proceeds ot sale betore the first mortgage and other BUbsequent mortgage bonds,
and tho remainder of said bid to be paid in first
mortgage bonus, aud the surplus of said proceeds, if any, to be paid into court to be applied
to ho payment tf the subordinate seeui-itioa
and claims according to the equities estai dished
b>^ theeaid final decree. And In orderto enable
said special master to ascertain tlio several
lialdliiles npainst the Texas & St. Lonis Railw.iy Company in Texas and against the Receivership's administering said trust since the
16th day of Jannaiy. 1884. so as to determine
the atr.onn t of cash to be paid on the purchase of
said property nud tho amount of oonds that
can be nccived in payment, it is hereby
ordered nnd directed that all pei-sons whomsoever holding any cliiirs enlitlcd to be
fiaSd out of the procei ds of the sale .ngalnst
ho said Texas & St. Louis Railway Company
in Texas, or against tho said rail way ami propel ty while In the hiiiids of tho Receiver atlministeiiug tlie same, shall forthwith aud before
the said sale of 4th ot August, lh85, furnish to
I
M. Met orniick. Special blaster, adtlre^scdto
him at Waco, Texas, or Tjlar, Texas, care of
Hcrudon & CaUi, Soli' iters for Complainant,
the Siiid claims, iuciuditig all bonds of every
set Ics and Itlnd decree d to nold a lien npon said
J.
iroperty, all Keoeiver's ceriiiicates, claims ad-
judged by Court for l,bor, miiteriil, costs of
court, judgments, foes, commissions, contracts
for money, counsc', Bolicltors' and attorneys*
fees inctu'Vetl. In fact, evi-ry claim wha' soever
which is entitled to be paid out ot Ihe proceeds
ot sale of said railway and property.
The owners of tho bonds and therva'uablesecurities arc not required to dei osjt the bonds
themseh'es, unless specially rcquestcdso to do by
(
theMa8tei'forln.siiection. but shall give the ntunber of thebondoroi her security, irs date, atnotmt,
style, rate ot Interest, when the Interest ISegan,
and figured up to August 4, 188.5, In a statement by the cwneror uls duly authorized agent,
and duly sworuto and atti sled before nu offlcer
having a seal. As to allotlier claims, tho claim
list It must
e deposited with tho Master with a
I
stareiieut of ownership, tis above, duly sworn
which said claims tho M.aster shall file and
register ia a book kept for ihat puriiose, duly
cl'Rsfl (I t.n to prioilty and in the order received. It is further ordered that said Special
MiisU r sliaU c.mso this order to bo published in
tho s.iiiie newspnpci s in wliich said sale is advertised from this ilaio until said sab'. Also in ouo
newspaper in tho City of St. Louis. Mo and in
the ( 'ity of Waeo, Texas; nndtlio Clerkot tho
8. Circuit Court, at Waco., is diiecti d to file aud
enterthia ordortipnu tho tninutes of said Court,
Ihe above entitled cause, ami furnish a certified copy to J. M. Mci:oruiick. Special blaster.
to,
.
U
m
DON A. PAKDEE, Judge.
June lU, 188.3.
Waco, Texas, June 23, 1383.
J'. M. McCoRMiCK, Special Master.
hereby postponed until Tuesday, the 1st day of September. 1885, and on said
'^^ <''<! o' Tyler, on the terms and conditions nkmed Hi the above notice.
.^aie
'"
[Vol. XLI.
is
J.
M. McCOKMICK. Special Master.
@FedFRASER