Full text of Commercial and Financial Chronicle : December 14, 1878, Vol. 27, No. 703 [Copy 1]

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

HUNT'S

MERCHANTS'

& W

i?

MAGAZINE,

It I m 8*wfipnpett

REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE
UNITED STATES.

VOL. 27.

SATURDAY, DECEMBER 14, 1878.
CONTENTS.
THE

Congresg and the Banks
Peace or War in Europe

612

Life Insurance and Real Estate.613
Silver Demonetization the Major
Cause of the Great Business De¬

pression in Europe

614
THE

week two

Railroad Earnings in November.
and from Jan. 1 to Nov 30
United States Treasury Statement
Latest Monetary and Commercial
English News
Commercial
and Miscellaneous
News

BANKERS’

Money Market, U. S. Securities,
Railway Stocks, Gold Market.
Foreign Exchange, N. Y. City
Banks, Boston Banks, etc
621

616

617
618

“

620

“

GAZETTE.

Quotations of Stocks and Bonds.

624

Local Securities

626

Investments, and State, City and
Corporation Finances
626

THE COMMERCIAL TIMES.

Commercial Epitome
Cotton

630 1 Breadstuffs
630 | Dry Goods

635
636

3?lxc Chronicle.
The Commercial

Financial Chronicle is issued

and

day morning, with the latest

news up

on

Satur¬

to midnight of Friday.

TERMS OF SUBSCRIPTION-PAYABLE
For One Year, (including postage)
..
..
For Six Months
do
Annual subscription in London (including postage)
Six mo8.
do
do
no
,

IN ADVANCE:
$10 20.
6 10.

£2

6s.

1

7s.

..........

Subscriptions will be continued until ordered stopped by a written order, or
publication office. The Publishers cannot be responsible for Remittances
unless made by Drafts or Post-Office Money Orders.
ot the

London Office.
The London office of the Chronicle is at No. 5 Austin Friars, Old Broad

Street, where subscriptions will be taken at the prices above named.
Advertisements.
published at 25 cents per line for each insertion,
but when definite orders are given for five, or more, insertions, a liberal dis¬
count is made.
No promise of continuous publication in the best place can be
given, as all advertise-s must have equal opportunities. Special Notices in
Banking and Financial column 60 cen s per lin^, each insertion.
Transient advertisements

are

Congressmen have given themselves a name
pioneers in this crusade—one of them is Mr. Fort of
Illinois, and the other is Mr. Felton of Gjorgia. The
title or object of Mr. Felton’s bill, as
reported by tele¬
graph, is, “An Act to compel the national banks to
receive and recognize the standard silver dollar as
equivalent in value to the gold coins of the United
States.” We think the Empire State of the South will
be increasingly proud of its representative the
longer it
dwells upon the vastness of the
proposition here grap¬
pled with and the boldness displayed in execution. We
can
only suggest one amendment to it, and that
would be an
additional section
making by act
of Congress the five-cent coin -a dollar, and then
compelling the banks to “receive and recognize’’
it “ as equivalent to the gold” dollar. The
only differ¬
ence in the two
propositions is one of degree, and as the
government, and consequently “ the people,” would make
the most out of the latter, we prefer
it and think any
enlightened constituency would. If a man can by his
boot-straps lift himself off the ground, he can in* the
same
way and with perfect ease carry himself over a
rail fence—having overcome the law of
gravity, the ques¬
as

CHRONICLE.
611

NO. 703.

“

tion of

degree is of no consequence.
it may be worth Mr. Felton’s while to con¬
william
dana,
WILLIAM B. DANA & CO., Publishers,
I
sider—having passed the law “ requiring national banks
floyd, jr. f
79 Sc 81 William Street, NEW YORK.
to receive, <fcc.” these dollars—what then ?
Post Office Box 4592.
Of course
we all admit
(for in that consists the necessity for the
A neat file-cover is furnished at 50 cents; postage on the same is 18
cents.
Volumes bound for ibscribers at $1 20.
act) that the intrinsic value of these equivalents is not
For
complete set of the Commercial and Financial Chronicle—
July, 1865, to date—or of Hunt’s Merchants’ Magazine, 1839 lo 1671, inquire equal.
Here in New York, where the larger portion of
at the office.
our foreign trade is
concentrated, this defect would be
soonest manifest.
The merchant cannot
purchase
CONGRESS AND THE BANKS.
exchange, to pay for his bill of goods in London, with
Unfortunately, the past week has furnished new evi¬ these silver tokens ; hence when they become so numer¬
dence of the very crude financial notions which still ous as to accumulate at the commercial centers to which
prevail among our legislators. We were hoping, from they would tend, this intrinsic value and the law of
the conservative expressions which some of the leaders
Congress would come in direct antagonism. Thus we
gave utterance to, that these efforts to make everything should have the law of gravitation on the one side and
a dollar except what is worth a
dollar, would cease for a the boot-straps on the other; which would break first,
time. Disappointed though we are, to some extent, in would
perhaps soonest be made apparent to Mr. Felton’s
this, it is gratifying to find that there really have been mind and the minds of his followers, if he woull add
at work educational
agencies during the Congressional still another section to his proposed act, requiring Mr.
recess, for now a two-thirds vote cannot be mustered in Felton himself to organize and furnish the capital for a
favor of propositions which last year always commanded national bank in this
city to be conducted under his own
four-fifths of the House.
law; and then still another section, compelling every
But the main problem with which this class of states¬ Congressman
who voted for the measure to keep his bank
men is at
present wrestling is, how to make such an account in one of these national institutions receiving
application of force to national banks as will induce and paying out silver.
them to believe a silver dollar is equal to a
The truth is that this is a question not at all between
gold dollar.
They justify their desire by the syllogism that Congress banks and Congress, but between the commercial classes
has said it is so, and hence it is so.
During the past and Congress; the banks are only doing what their cusAnd yet

b.

jonN G.

s

a




c

THE

612
tomers

require them to do. It is generally

CHRONICLE

acknowledged

make the
value of a gold dollar out of eighty-five cents worth
of silver ; whether by the concurrent agreement of all
commercial nations it could be done, we are not dis¬
here that

a

law of the United States cannot

The present proposition is simply this:—to
force what is selling at London to-day, say at 85 cents, on
banks (and that means on their customers) at one hun¬
dred cents.
We repeat, then, it is the general opinion of
this community that this difference of fifteen cents cannot
be bridged overby an act of Congress; and, furthermore,
cussing.

that the intrinsic value of the two
assert itself as soon as
numerous.

representatives will

silver dollars become sufficiently

We do not care, for the purposes

of the

Mr. Felton admits that this opinion
right
It is the prevailing opinion in this
city and vicinity, and in fact among intelligent capi¬
talists as a class everywhere; and being such, if one-half
our banks should, on the passage of this proposed law,
argument, whether

is

or wrong.

PEACE OR

[Vol. XXVII.
WAR IN EUROPE.

By the opening of the British Parliament and by the
debates which have since been carried

on

in both Houses

of tlie National

Legislature, public attention has again
been forcibly directed to the troubles which exist in
Eastern Europe and Central Asia.
The policy of Lord
Beaconsfield has been severely criticised, and many bit¬
ter things have been said; but it does not appear as if
the opponents of the government will be able to make
any political capital by exposing what they consider to
be the mistakes or blunders of the party in power.
So
far, the government policy has been singularly success¬
ful; and success in a policy of aggression, more espe¬
cially when the national honor* seems to be at stake,
seldom fails to command popular sympathy and support.
Right or wrong, Beaconsfield seems, for the present at
least, to be a favorite of fortune.
If he has acted
rashly, and incurred unnecessary risks as well as great
and probably uncalled-for expense, be is certainly not
open to the charge, which, in his opening speech, he
flung in the face of his opponents—he has not mistaken
“a policy of timidity for one of wisdom.”

executing the law,
State organization
executing the Clearing-House agreement, the great
With these debates in Parliament, however, and with
body of the depositors would go to the State banks.
More than that, if Baltimore and Philadelphia failed the
rightness or the wrongness of the Beaconsfield
to appreciate the situation,
a large portion of their policy, we have little direct interest. We are concerned
deposits in time would necessarily follow. In truth, with them only so far as they affect, or promise to affect,
all over the country capitalists would be transfer*- the vital interests of trade and commerce. The com¬
ring their balances to New York, where for gold or its mercial world is heartily sick of war. Seeking, as it
equivalent they were sure of receiving gold or its equiva¬ does, the settlement of all questions which hinder the
lent, until the whole body of the banks, through this revival of industry, it naturally desires the restoration
process and the fears it excited, would finally be forced of an enduring peace; and we believe that the tendency
out of the national system into an adoption of the
of events, both in Europe and in Asia, in spite of cer¬
Clearing-House arrangement—gold for gold, silver for tain appearances to the contrary, is in the direction of a
silver.
Thus the act would be a benefit to New York,
general and satisfactory settlement.
while the chief harm done by it would fall on those
It did for a time seem as if the Berlin treaty had only
communities in which the banks were slow in', leaving been made to be broken. On all hands there was a
the national organization—upon the rural districts, where suspicion
that Russia was about to play a false game ;
they would be held longest within the national system that Beaconsfield, in spite of his astuteness and admitted
by the profit on their circulation. About that time Mr ability generally, bad really been outwitted, and that
Felton might find it quite embarrassing to meet his the
arrangement of San Stefano would virtually stand.
constituents and acknowledge himself the author of their This
feeling no longer exists. Russia has declared her¬
misfortunes.
self prepared and resolved to carry out her treaty obli¬
We have no fear then as to the end of all this
gations; and already she has given practical proof of
controversy. Events are crowding upon one another the honesty of her intentions.
Roumania is now in
so
rapidly that the obstructionists themselves will friendly relations with her more powerful neighbor.
soon
be pushed aside by them; for, in spite of the With the change cf ministry at Constantinople have dis¬
umnatural obstacles they are interposing, the country appeared the obstacles which stood in the way of special
is quietly passing into its new condition of unsur¬ and
satisfactory treaty arrangements between Russia on
passed prosperity. Bi-metallism will come, for it is a the one hand and Turkey on the other. When these
European necessity, if we will only leave the result to be treaty arrangements, which it is understood have the
worked out by the natural causes now in operation approval of
the British government, are concluded,
and which are clearly indicated by Mr. Nourse in another Russia will be without excuse if she refuses to evacuate
column.
We cannot hasten it a day, but we can harm Turkish
territory within the time specified.
ourselves and delay the end by our indiscreet acts. Mr.
Nor is this all. The French government has heartily
Garfield, one of the shrewdest and most judicious men espoused the cause of the Greeks. France, it is under¬
in public life, has drawn his inspiration from the very stood, is not unwilling, if need be, to send a contingent
heart of the people in the following extract from some to Greece and to
occupy until justice is done to the
remarks made by him this week in the House during the little
kingdom. It now appears, however, that Russia
•discussion of the Consular bill.
has yielded to the representations of the French govern¬
I want to gay another thing. So far as I have studied the current of public
ment, and that the influence of Russia will be added to
Thought and of poliiical feeling in 1 his country, no feeling has shown itself
strongly than the tendency of the public mind in the past few months. that of the oilier Powers to induce Turkey to make to
who attempts to get up a political excitement in this country on the
The
Greece large cessions of territory from Thessaly and
old sectional issues, will find himself without a party and without supportfrom Epirus.
Among the more hopeful and encourag¬
The
who wants to serve his country mast put himself in the line of its
leading thought, and that is the restoration of business, trade, commerce, ing signs must also be included the success which
industry, sound political economy, honest money, and honest payment of all
has attended the Austrian army in Bosnia, and the satis¬
obligations; and the man who can add anything in the direction of the accom¬
plishment of any of these purposes, is a public benefactor.
factory termination of the difficulty which for a time
It is a great pity that Mr. Felton’s good sense does not threatened to divide the councils as well as the strength
of the Hapsburg dominions.
Nor must we forg3t that
enable him to see the force of these truths.
remain within the national system

and the other

more

man

man




half go under the

December 14,

1878.]

THE CHRONICLE.

the Turkish govern ment by some of its recent procla¬
mations has given satisfactory evidence that it is hon¬

estly bent

policy of reform. Within the space of a
time, with the Bulgarian
kingdom fairly established, with a Christian Governor
in Eastern Roumelia, with Greece and
Montenegro
equally pacified by an adjustment of their boundary
lines, and with the promised changes in the Turkish
government itself, we may hope to see the first fruits of
the treaty of Berlin ; and we have no reason to doubt
that these fruits will be satisfactory
and encouraging.
The Eastern question settled, we can discern no
signs of
war in any other
part of Europe. The financial condi¬
tion of Russia, of
Germany, and of Austria, bars the
likelihood of an early resumption of hostilities; and in the
direction of France and Italy we have but little to fear.
The contest which has just been
begun in Central
Asia cannot be of long duration.
The fears which were
so
forcibly expressed by the peace party in England,
that Russia would espouse the cause of the
Ameer, and
that thus the war which had been
narrowly averted on
the shores of the Bosphorus would break out with wild
and uncontrollable fury on the
highlands of Afghanis¬
tan, have not been justified by fact. The successes of the
on a

few months from the present

-

-

for deficiencies

613

entered, the mortgagee becoming
purchaser. As these items have been used as sug¬
gestions of growing weakness in the companies, it will
not be untimely to examine that
subject a little. The
State law limits mortgage loans to
property within
the State or within 50 miles of this
city;, it also
requires the property to be worth 50 per cent more than
the loan, or, in other words, authorizes a loan of twothirds the value; as to real
estate, it authorizes the per¬
manent owning of
property necessary for use, and the
temporary owning of such as is acquired by foreclosure.
The holding of real estate
by the city companies at the
close of the years named, is shown
by the following
schedule of the amounts
reported:
were

the

Equitable
Mutual

1876.

$6,286,745

$5,462,319

,$5,030,484

$2,851,301
2,530,403
1,768,174
503,458

5,725,036
3,500,268
1,249,226
1,052,074
714,555
697,284
293,000
227,551
73,750
75,134

New York

Knickerbocker
Globe

Manhattan....,
Germania

Metropolitan
Washington
Brooklyn
United States

There is

1877.

nothing to

1875.

1873.

4,246,245

* 3,572,655

2,541,576
2,133,439

1,820,240

764,161
206,851
372,337
276,610
121,500

733,000

31,197

14,000

46,724

27,218

1

724,596
48,000

24,000
165,000

59,680

12,151

surprise in this increase, or
nearly all of it has occurred by fore¬
British forces have been won with
comparative ease; closure.
Ordinarily, there must be mortgagors whose
and the condition of the invaded
country, abandoned by business
operations do not earn them the interest on
its chief ruler, does not lend much
encouragement to their
loans; and considering the vast quantities of
those who believe that the struggle will be either severe
unimproved or, at least, unproductive real estate which
or
prolonged." Public sentiment in Great Britain will 1873 left on the
hands of persons who had incumbered
prevent the government from adopting unnecessarily
not only that but their better
property, it is easy to see
harsh measures with Shere Ali; and it
may, we think, that the drain of
interest and taxes, without
be taken for granted that unless the
any mate¬
Afghan ruler rial
must
the
income,
exhaust
ability of many mort¬
should prove obdurate and intractable, he will be restored
gagors.
In
fact,
not
few7
old
mercantile
a
firms haveto place and
power.
It would be unreasonable, how¬ been
undermined by this very sort of drain on the
ever, to conclude that the relations of Afghanistan and
private resources of their members, and the whole move¬
British India will be allowed to remain as
they were ment is
precisely what must naturally follow a period of7
before the invasion. The frontier
question has long
paper inflation.
engaged the attention of Indian officials; and now
As it may be interesting to compare with the above
that the opportunity has been found, we
may rest the
experience of the Other-State companies w'hich loanassured that the northwestern
boundary line will be on Western
property, wre add the reported real estate
rendered more secure. The presumption
is that the two
holdings of the largest ones:
great gate-ways by which access is to be had to India
1877.
1876.
1875.
1873.
from the north—the Bolan and the
Khyber Passes— Connecticut Mutual
$4,067,903
$2,748,753
$1,835,593
$1,347,2-27Benefit
will be permanently occupied
294 372
286,383
235,354
149.904
by British troops. Mutual
iEtna
263,OCO
184.690
149,597
7,737
The possession of these Passes will render
impos¬ New England
1,398.251
1,361.156
1,336,334
625,000
sible the invasion
of
British territory from the Phenix
3‘>7,753
257,833
€0,768
north.
It will, in fact, complete the security, as it will
Without pausing for very detailed
comparison, there
the integrity, of British India. There are those who see is nothing in the
general view of these two schedules
in the occupation of these Passes
by Great Britain a which discredits Western mortgages; a special investi
permanent cause of quarrel with Russia.- Such is not gating committee in Connecticut, a year ago,
reported
our
opinion.
On the contrary, as their occupation that one company had lost $0,000 on foreclosed Western
will render an attack from the north or northwest
impos¬ property actually sold, and two others had gained
sible, it will, we think, be found to have the effect of *>9,14S.
But as bearing more closely upon the
removing all cause of jealousy. With the neutral terri¬
question under
tory of the Ameer between them, it will be more easy discussion, wTe subjoin a table showing, the ratio of the
for the two great rival Powers to live
together in amity. leading items of assets to the whole assets, as reported
Altogether, therefore, whether we look to the situa¬ at the close of the years named, the first table covering
tion as it presents itself to us in
Europe, or as it presents all companies doing business in this Slate, and the sec¬
itself to us in Asia, we are not without reason for con¬ ond one, only
companies located in this State.
to
Ratio
whole
1.872.
assets,
1873.
cluding that, so many outstanding questions having
of
1874.
1875.
1876.
1877.
Rea', estate
3-72
416
4 74
5-87
7-17
been settled, and so little further cause of war
7-9&
having any Mortgages
49 08
52*70
5-4-28
54*50
53'48
5070
real existence, we are on the
United States bonds
6*67
6 09
563
verge of an era of peace.
5*70
746
903
cause

in the fact that

.

„

..

Other securities

9-68

964

11 28

12-65

13-60

15 73

18 33

17-60

14 18

12 73

10-16

8-29

Premiums deferred and unpaid..

4-74

3-52

280

2 10

1-36

Ratio to whole assets, of

1872.

1873.

1874.

1875.

1876.
803

Premium notes

LJFE INSURANCE AND REAL ESTATE.
Within the past two

weeks there have appeared in the
newspapers several items recording the sale, under fore¬
closure, of a number of mortgages held by some of the
prominent Hfe insurance companies, in which judgoi^ts



Real estate

Mortgages
United

Statesbojids,

Other securities
Premium"tiotes

I*?.
Premiums deferred and unpaid..

4-39

515

6 05

705

58 55

62 CO

62 86

60-36

8 47

7o86

7*23

503

5*16

7 23

9*87

8-64

5 83

420

i-ir
1877.
999

59 01

5345

737

9 83

11 65

8-61

10 65

13*88

7*31

6 43

429

3*34

8 38

2*81

1*74

1-42

*

614

THE CHRONICLE.

This shoves

an

unbroken increase in the

real estate in assets and

a

“

proportion of

decline in that of mortgages.

But the

following table gives the ratio to assets of real
estate, mortgages, &c.:
Ratio of

Brooklyn,......
Equitable
Germania

Mortgages

Surplus to

to assets.

to assets.

45-80

mortgages.
26-78

19 C2

41-51

4190

4125

17 26

403

Homoeopathic..
Knickerbocker
Manhattan

.

Metropolitan...
Mutual
New York

14-27

59*72

21-43

29-90

17-03

9 00

30-92

77-00

67-90

defic.

3 53

48 00

16-16

19'20

29-52

23 76

18-53

726

43-20

39-78

37-44

14-04

34-00

41 23

13 00

675

68-Gi

1830

18-30

10-07

43-88

41-27

4127

48-21

80 43

24 CO

43-84

39-27

33 81

United Statce..

Washington....

Surplus to
mortgages.

363

869

Home

.

Real estate

Globe

4-25

[VOL. XXVII,

In column 4

capital stock is included with liabilities.
figures, although the latest procurable, are a year
old. It is reasonable to suppose that there has been
an increase of real-estate
holding since, also that in some
cases the property will
never return what has been
advanced on it; but there is ample margin for
shrinkage
before an impairment can be produced
thereby. There
is, however, no natural relation between surplus and
mortgages, and a comparison of that relation as between
different companies has no significance whatever; that
ratio is here adduced to show how large a slice could be
lopped from the mortgages before even a technical
impairment—which is by no means the same as financial
insolvency, notwithstanding the law unwisely holds it to
be so—could be produced.
As to real estate, inasmuch
as it is a much smaller item than
mortgages, relatively
-and absolutely, the surplus is sufficient to cover
any
"shrinkage in it much more amply. Taking the city
companies together, their reported surplus exceeds by
H millions their real estate, and eight of the thirteen,
holding together more than half the total of the latter,
could have that item sponged from their assets and still
show a surplus.
But what will the companies do with what
they have
now and must hereafter
acquire? Hold it, and make
the best issue they can with it.
Unquestionably, real
estate, being the slowest of all investments to realize
upon, is not a good reliance for an emergency; but the
distinguishing peculiarity of life insurance is that it has
and can have no emergencies, and therefore the com¬
panies are the strongest holders of real estate and the
These

is, no doubt, at present a gold scarcity. The world s
gold produce has not been increasing of late, while the
“
demand for gold has become much greater in conse“
quence of currency changes. Any fresh discovery of
“
gold, in quantities sufficient to influence the relations
“
between supply and demand, must therefore have an
“
important and, on the whole, a beneficial influence
“
upon the money markets of the world. For one thing,
“
it may enable India to
lay the basis of a gold cur“
rency.”
This idea of “ gold scarcity” has found
expression in
many forms, from many sources, during the last three
years. In each succeeding year the scarcity has forced
itself more strongly upon the attention of writers and
statesmen, although in the same years there has been
a constant reduction in
the volume of business done,
with contraction of prices as well as of
quantities, in
commerce as in
production, in all the leading commercial
“

nations of

Nor is it

Europe.
ideal

scarcity of gold, or 'money. It is
very real. In spite of the long-continued and accelerat¬
ing diminution in commercial transactions and in the
products of industry, in their quantity, yet more in their
value, the need of more money presses more urgently as
the months go by.
I know not how much the Economist
meant to convey in its words “ the demand for
gold has
become

an

much

greater

in consequence of

currency

changes.” They contain a great truth, which will go far
to explain the
strange problem of the business depression
now
afflicting the commercial world, of which all other
explanation has been unsatisfactory, as the assigned
causes have been
incapable of the results seen, in their
magnitude and duration.
Gold is now the only real money in
Europe. Standard
silver is yet doing the work of
money as currency, but
only in the same way as that function is performed by
Bank of England note?, under actual or
implied promise
of gold redemption, or ready
exchanyability for gold at
the legal ratio 15 J to 1. Nowhere in
Europe has standard
silver coin the full money power that it
possessed ten
years ago, the power which sustained its value at legal

parity with gold under free coinage by most of the
nations.

Notes of the Banks of England and
sure of
redemption in gold, are not

France, however
money; they are

simply promises of money. The time has come when
This fact this elementary truth in regard to bank notes applies to
Just as long as 100 francs silver
one in the standard silver coin.
case.
Ultimately, values will recover, and it would will do what 100 francs gold will do, the former will be
be unreasonable to suppose that
improved property, as good as the latter, with or without legislation to
on
any decent valuation,
can settle
down to a declare it so. When the silver shall fail to do what the
basis be’ow 50 to 60 per cent of what it has been gold will do as money, no law can make them
equally
counted for during the last five years. Loss on some valuable. Thus far equality of the two metals at the
pieces will be offset by gain on others, and the worst legal ratio has been maintained in all the bi-metallic
which can be expected will be some
temporary diminu¬ States, not by the law only but by the financial policy of
of
tion
interest income, and some slight
lessening of banks and governments which preserves an ever-availsurplus. There need be no anxiety about the companies able exchangeability of the one for the other. In this
on this account; and, as evidence of conservatism of respect standard silver has become like
subsidiary coinsj
management, it is well to note the fact, shown above, differing only in degree, both hold current value by
that the companies have been liberal takers of United assurance of convertibility into real
money at will.
States bonds during the last few years, aud that those
Nominally haying the double standard France coins
bonds never formed so large a
proportion of assets as gold only, thereby confessing that she cannot, except at
too great sacrifice, if at all, hold more silver than she
they now do.
now has up to its legal value in
gold. Practically
SILVER DEMONETIZATION TI1E MAJOR
France is gold monometallic like England and Germany.
OA USE OF THE GREAT BUSINESS
As with France so with Belgium and S witzerland, her
DEPRESSION IN EURQf$.*
associates in the Latin Union. Practically all of specie[communicate^.]
^>
*r
paying Europe is cm the gold basis or standard of money.
The London Economist of November
16, said: “There Gold is now the only real money in Europe,
best able to handle it without ultimate loss.
is not always remembered, but it is the vital




December

THE CHRONICLE.

14, 1878.]

The whole structure of business credits and transac¬
tions rests on a basis of real money. The demonetization
of silver
basis.

was

to its full amount

If in 1873 the whole

a

contraction of that

of money,

gold and
silver, in Europe, was $3,600,000,000, since increased by
additions of $200,000,000, and if the portion of silver
demonetized be only $950,000,000, the money basis is
reduced 25 percent below what it was in 1873 for an
equal volume of business. That is not all: the demone¬
tized silver has become, like bank notes, dependent
on
gold to sustain its currency value. Whereas in 1873 and
previously it supplemented gold by its full sum as moneys
it has now become a demand
liability to claim gold.
This is the great currency change comprehended,
perhaps unconsciously, in the words quoted from the
Economist; a change whereby 25 per cent er more of the
only safe basis on which currency and credits can rest
sum

has been taken from the basis and added to what the
basis must support.

Witness the incessant

Europe had
worst

615

share in this depression. Here, the
past and recovery has made considerable pro¬
in spite of obstacles created by mistaken legisla¬
soon to

is

gress,
tion. It is feared that the worst is
yet to appear

iu

Europe.
The difference is

Since 1862

we

of financial condition—of
mocey.
have had an irredeemable paper
one

currency.

On the first

day of 1879 it is to become redeemable in
gold, preparation for which has been made in the Treas¬
ury by storing up gold, in the banks by strengthening
reserves, and in the minds of the people by forming a
hope of good consequences, to which feeling is due, in no
nnall degree, the progress already attained in the recov¬
ery of business prosperity. We have encountered the
regular s( quence of conditions—excessive inflation of
currency and prices, expelling money from the country;
the collapse; the long depression and contraction of
prices; and the costly recalling and storing up of
a
large redemption fund of gold, which we were enabled
to accomplish by a favorable course of
foreign exchange
during the last two years, the proper effect of our low
prices and the consequent large exports. Circulating

struggle to get and keep gold
specie-paying countries; in France, the largest
owner of silver
cutrency, not so much to protect the
notes and deposits of the Bank of France as to hold with
silver does not trouble us, though
it may do so
sure ability her
$600,000,000 or more of 5-franc pieces after a year or two more of the existing coinage law,
up to their legal ratio, 15J t,o 1, in public estimation.
and our store of gold, kept at home
by favorable
the
Daring
quarter century 1848-1873 the growth of
exchanges, is constantly increased from our own mines.
business—of production and exchange among the nations
Quite different is the condition in Europe—specie-pay¬
—was
immensely larger than in any like period. The ing Europe, excluding Russia, Austria, Italy and Spain.
annual foreign trade of Great Britain increased more The
specie-paying countries have had sound currency in
than 400 per cent; the increase in the trade of all the
ample supply, without excessive issues of note money or
nations is estimated at over 300
other
unusual influence to inflate
per cent, and the
prices, except from the
domestic trade of the several countries increased in like excesses of
apparent prosperity prior to 1873. For the
proportion.
long term of five years adversity has attended upon
After making all proper
allowance for the progressive commerce and manufactures, its severity increasing
forces of that period, in
propulsion and invention; in arts, with time, until this great depression has cast its gloomy
manufactures and commerce; by
quickening, extending and paralyzing influence over all branches of business—
and cheapening transportation and
exchanges; and all labor and capital more and more idle, prices depreciated
other improvements—these
failing'to account for the until loss falls upon neaily all producers, and the volume
magnitude of the increase in production and commerce— of business reduced and still
shrinking, the capacity to
we are driven to admit that these forces were
secondary, consume lagging behind the greatly-reduced production.
deriving much of their own power from a superior
Notwithstanding all the contraction in the uses of
impelling force, greater than all of them combined, with¬ currency and capital, the insufficiency of the gold
sup¬
out it.
That superior force was the increase of
money, ply, or money, becomes more apparent and the need of
gold and silver working together at an accepted relation it more urgent each year. When largest allowance is
of value, each metal
supplementing the other as money made for the reactionary consequences of over-produc¬
of full power
During that 25 years, according to the tion and over-trading and all other assigned causes for
best authorities, the world’s
these results, hitherto unknowm in such extent under
money of gold and silver
coin and bullion was increased from
$5,000,0(10,000 in such stiange ind apparently irreconcilable conditions,
1848 to $7,000,000,000 in
1373, or 40 per cent, seven the mystery remains, unless its full exjdanation be found in
eighths of the increase being in gold. Down to 1873 all the demonetization of silver.
of this silver and gold had the function and
The beginning of the business depression was coinci¬
power of
full money, and all was employed in
promoting the dent wTith the complete act of silver demonetization by
active growth of business that has been noticed. We
Germany in 1873. Its progress from bad to worse has
cannot make any exact division of that wonderful
been
gain
coincident, step by step, with the progress of the
between the effect of the increase of money, and the
demonetization, actual and most practical though not
effects that would have been due to the other favorable
really legislative, by other States. The facts illustrate
forces, these then so much weaker, without the former. true relations of cause and effect. The British mer¬
in all the

_

Whatever

was

due to

the increase of money

would be
produced in opposite effect by the same cause reversed.
If so great growth was due to 40 per cent increase in
the money of Europe, what contraction of business
ought
to come from a contraction of more than 25
per cent in
the same money power ?
In 1873, when business was most expanded, its activities
highest all over the commercial world, prices most
inflated, and credit most extended, the shock of failures
and panic began in the United States,
followed by busi¬
ness stagnation
and depression, in duration and severity
commensurate
with its extraordinary antecedents.




chant whose
were

the

expected profits on shipments to Calcutta
converted into loss esthat made him a
bankrupt, by

depreciation of

much

reason

to

rupees received for his goods, has as
be doubtful of the special cause of his

ruin,

as have the proprietors of iron and coal mines now
closed and of cotton mills in which the
machinery is

stopped, to wonder what is the great moving cause of
their calamity.
T5e disastrous mults new in view, were
distinctly
foreshadowed in 1876 by Seyd, and more than
suggested
by Cernuscbi* eLaveleye and other writers. It is not
very rash to suppose-that some impression of their true

616

THE CHRONICLE.

I

here presented,

St. Paul, and the two Canada roads.

the minds of those
statesmen of England and France, Mr. Goschen and
M. Leon Say, while at the recent Monetary Conference
in Paris called by our Government, however much their
utterances were restrained by their representative posi¬
tion.
One of the strongest writers in favor of the gold
standard (Herzka) boldly admitted that if the existing
body of metallic money should be reduced to gold alone,
the gold would then have the whole purchasing
power
cause, as

more

a

GROSS EARNINGS IN NOVEMBER.

Increase of the

purchas¬
ing power of money expresses a corresponding deprecia.
tion of other values, or fall in prices.
If the money
basis in Europe is now 25 per cent less than it was in
1873—then quite too small for the greatly expanded
volume of business and credits resting upon it—does it
not follow that the aggregate volume of business and
credits to be sustained by the reduced basis now, when
distrust has displaced confidence, must be contracted,
either in quantity or value or both, until the one shall be
in safe conformity to the other ?
A part of this contraction has been suffered without
disclosing a sign of relief. The questions arise, how
much

As to the last named, it is
question in Wall street whether the decrease on these roads
may be taken as indicating a decrease of a similar percentage on
the Michigan Central and Lake Shore roads in the United States
;
the prices of their stocks, however, do not show
any weakness
which points to such a decrease in
earnings.
An increase of $167,316 on the Chicago & Northwestern road
may have been a surprise to those who believed in a failure of
the wheat crop along its lines.

was upon

that had been in both metals.

contraction must be endured?

what time

fV0L. XXVII,

1878.

Atchison Top' ka & Santa Fe.
Burl. Cedar Rapids & Northern
Cairo * St. Louis
Central Pacific
Chicago * Alton
Chicago & Eastern Illinois
Chicago Milwaukee & St. P....
Chicago & Northwestern. &c.
Clev. Mt.Ver.* Del.* brehs
Denver & Rio Grande
Grand Trunk^of Canadat
Great Western of Canada}:
....

...

Illinois Central (main line)....
do
(Iowa leased lines).

Indianapolis Bl. & Western
International & Gt. Northern.
Kansas Pacific
Missouri Kansas * Texas
Pad. * Elizabethtown
St. L uis Alt. & T.II. (br’chs).
St. L'.uis Iron Mt. & South’n
St. Louis Kansas C. & No tlr..
St. Louis & S. E.—St. L. div.*
do
•
Ken. div..*
do
Tenn. div.*
Toledo Peoria & Warsaw
Wabash
Union Pacific
..

.

......

will

it

cial

and

require? what will be the industrial,

commer¬

financial conditions of the several countries
while this contraction is in progress and when it shall

Total
Net increase

have been

1877.

$436,»00

$335,078

129,494

138,9-5

16.292

16,267

1,543,000
414,239
75,166
809,023

1,855,774

1,403.728
36,183

Inc.

9,491

312,774

391,618
65,344

22,623
9,822

892,027
1,236,412

167.316

36,or 8
80,083

37,280

82,998
175

382,301
474,012
144,880

9,936

96,172

80,815

234,0.3

184,963
364,188
274,184

15,357

288,459
27,309

827,211.

67,205
70,373
19,515
49.060

32.836

...T

5,527
4.207

533,700
312,592

4^8,075
312,338
43,702

75,625
254

3,706
5,378

22,102

8,343
9J,086

3,380

395.050

59
57 690

1,022,354

61,970

$10,312,502 $.10,212,097

$66$,293

452,740
1,034,324

.

14,275

47,063

90.145

'

27,233

51.270

47,408
27.480
11,723

$

2,025

117,363
760,006
311,923
483,948
125,-165
391,421

Dec.

$100,922

$567,888

100,4(5

♦

Three weeks only of November in each year,
accomplished ?
t For the four weeks ended November 30.
If the theory here presented is
t For the four weeks ended November 29.
correct, that the major
cause of the
GROSS EARNINGS FROM JANUARY I TO NOVEMBER 30.
existing trouble was the contraction of the
money basis by the demonetization of silver, it must be
'
1878.
1877.
Inc.
Dec.
Atchison Topeka & Santa Fe.. $3,005,819
$1,173,492
$2,432,327
$
true that the effectual remedy would be to remonetize Burlimrt’n C.
Rap.* Northern.
1,402,091
1,120.327
282,664
Cairo & Sr. Louis
201,074
216,166
14,492
silver; to restore to it the power which it held before Central Facilic
16,314,363
15,696,093
618,270
Chicago & Alton
4,345,433
4,117,544
197,889
1873, with new and stronger tenure than it then Chicago Mil. & St. Paul
290,099
7,735,072
7,444,973
&
Chicago
Northwest, &c^
13,407,696
11,186,672
1,621,024
possessed, by international adoption of one ratio of Clev.
Mt.Ver.* Del.*brclia
351.8.7
4,S43
Denver* Rio
1,032,945
value and free coinage.
700,239
332,705
They who flippantly and Grand Trunkt Grande...
S,21«,101
8d 39,913
421,212
Great Western:-:..
4 062,385
4,080,078
26,683
ignorantly say that a fixed ratio of value cannot be Illinois
Cent, (main line)§
4,934,305
4.814,9:2
119,383
do
(la. leased lines).
established by agreement of the
1,350,764
1,378,440
27,676
great commercial Indianap. Bloom. & Western.. 1,161,8*6
1,116.546
45,200
& Gt. Northern
1,403,3^9
1,363,905
39,483
powers, deny the practicability of what has never been International
Kansas Pacific
3,446,119
3,036,442
409,677
Kansas
Missouri
*
Texas
tried. They are put to shame by the distinct admission
2,739,111
2,913,299
179,183
St. Louis Alt. & T. II. (br’chs).
454,044
476,558
22,514
of its practicability by Soetbeer and other eminent St. Lonis Iron Mt. & South’n
4.044,415
3,974,118
70,207
St. Louis Kansas C. & North..
146,575
3,038,304
2,891,729
29 929
556,740
586,839
gold mono-metallists who deny only its necessity and St. Louis & S. K.—St. L. div.*
do
Ken. div.*
26.485
320,996
234,511
do
Tenn. div*
152,751
136,486
expediency.
16,265
Toledo Peoria & Warsaw
1,155,915
1,015,980
139,935
The silver legislation by Congress last
Wabash
4,663,558
4,210,M6
4*3,542
winter, and its Union Pacific
11.718,738
109,443
11,549,295
advocates, were equally false to the policy of general
Total
$101,876,563 $36,317,362 $6,299,131
$669,930
bi-metallism. The act delayed remonetization in
5.539,201
Europe Net increase
and discouraged its strongest advocates
Three weeks only of November in each yetH*.
there, by the
f From January 1 to November 30.
^
promise it held out of an early expulsion of our gold,
t From January 1 to November 29.
§ August, September, October and November figures include those of
then to be added to the money basis of
Europe. The Springfield division in both years.
\ In this statement, the proprietary roads are not included for the period
pressure of calamity there now, and apparently growing prior to June 1.
The following companies have but recently reported their earnings for
worse, may so hasten remonetization of silver that the
October, and from
,

.

...

•

•

•

•

•

•

•

•

«

.

.

,

• •

.

..

•

•

•

*

'

American blunder will be of

Janaary 1 to October 3l:

no

consequence

beyond the

injury by delay.

It would have been even a worse
blunder if mono-metallism in Europe had been
possible;
for in that case, with
ability to command any share of
the world’s gold that we might
want, it had been
supreme folly to doom ourselves to silver mono-metallism,
self degraded before the lesser
ability of Europe,
Boston, Dec. 10, 187S.
B. F. Nouese.

GROSS EARNINGS IN

1878.
Atlantic & Great Western
Atlantic Mississippi
Cairo * St. Louis

....

EARNINGS IN NOVEMBER., AND

FROM JANUARY 1

TO

NOVEMBER

30.

$387,497

& Ohio...

201,181
21,609

Chicago Burlington & Quincy.
Clev. Mt.Ver. * Del. * brehs;.
Dakota Southern
Houston & Texas Central

1,368,343

Nashville Chatt. &-St. Louis..
Paducah & Elizabethtown
Paducah & Memphis

Philadelphia * Erie

21,029

426,832
137,104
20,457
9,466
66.715

St. Paul * Sioux City
Sioux Citv & St. Paul
Southern Minnesota

GROSS

38.161

352,695
1.408,674

Philadelphia & Reading

RAILROAD

45,591
44,430

OCTOBER.

1877.

Increase.

$424,076
193,686
24,096
1,290,114
37,516
32,408
361,649

1878.
earnings of all roads reported for the month of
Atlantic
* Ohio
$1,399,324
November, 1878, amount to $10,312,502, against a total of Cairo & Mississippi
St. Louis
183,382
Burlington & Quincy. 11,746,897
$10,212,097 for the same month in 1877. This, result showing a Chicago
Clev. Mt. Vcr. * .Del.* brehs..
315,694
difference of only $100,405 in the two
176,548
years on so large an aggre¬ Dakota Southern
Nashville Chatt. & St. Louis.
1,325,135
gate, is a remarkably small percentage, but on examination it Paducah & Memphis
14-,679
Philadelphia* Erie
2.378,585
appears that a large majority of the roads had an increase in
10,249.094
Philadelphia & Reading
earnings, while this increase was balanced in large part by the St. Paul * Sioux City
497,031
Sioux City * St. Paul
311,649
decrease on only four roads—the Central Pacific, Milwaukee
& Southern Minnesota
535,305
...

$36,579
7,495
•

615

.

.

3.693

•

•

....

7,840
40,456
119,100
14,971
13,563
66,184

31.

Increase. Decrease.

$53,268
16,517

9

1,461,876

320.717

•

•

•

.

.

•

5,023
9,498

102,279
3,042

2,561,804

11,959,227
430,912
259,890
536,238

•

35,249

199,899

167,050
1,427,414
151,721

•

•

63,183

-

110,614

10,285.021

.

11,439

59,064

1877.

2,457

....

.

78,234

172,353
34,150
17,306
393,151
1,527,774
81,686

$1,452,592

Decrease.

'$

EAHNINGB BiK)M JANUARY 1 TO OCTOBER

The total




^

183,219

1,710,133
66,119
51,759

933

December

gives the gross earnings, operating expenses and

earnings for the month of October, and from January
the roads that will furnish statements for publication:
Oc‘.o ber.

,
*

$1,399,324

$82,668

$43,238

$428,415

$395,394

$141,619
95,801

$171,533
95,432

$1,273 497
910,799

$981,342

$45,813

$76,101

$362,698

$316,4(8

$486,921
229,386

$44",597
207,398

$3,931,194
2,212,685

$3,755,928
2,092,758

$1,718,509

$1,663,170

Burl. Cedar Rapids & North.—
•

Net earnings

*

Operating expenses

$257,535

Net earnings

Chicago Burlingt’n & Quincy—
Gross earnings
$1,368,343
7o9,789
Expenses....
$603,559

earnings

Clev.Mt. Ver.& Del.and Brchs—
Gross earniDgs.

Operating

expenses

Net earnings
Dakota Southern

970,909

December

earnings.
Operating expenses

$238,199

664,931

Denver & Rio Grande
Gross earnings

ireasury omces

$37,516

29,435

26,-92

$8,725

$10,524

$21,029

$32,463
..

$5,3(9,237
$315,634

$176,543
$79,S03

$167,050

42,065

$915,644
533,962

$620,156
319,416

$34,368

$379,682

$300,740

$76,434

$53,192

$117,800

$165,699

$

%

$426,631

$361,649

$...:..

§

146,792

149,663

$280,040

$211,984

$

s

$220,483

$181,253

$1,169, "65

$1,178,942

84,434

90,118

765,304

891,193

Net earnings
Houston & Texas Central—
Gross earnings

Operating expenses & taxes.
Net earnings

International & Gt. Northern

Net earnings

earnings

Expenses
Net earnings
Gross earnings

Oper. expenses, incl. taxes...
earnings

*

....

expenses

Net earnings.St. Louis Iron Mt. & South.—
Gross earnings
Operat. and general expenses
Net earnings

earnings

Operating expenses
Net earnings
Sioux City & St. Paul—
Gross earniugs
Operating expenses

earnings

Southern Minnesota—
Gross earnings

Expenses, &c
earnings

$459,403
231,351

$395,361
189,831

$3,054,698
1,807,575

$2,672,254
1,(54,749

$225,052

$205,530

$1,247,123

$1,117,505

$137,104

$172,353
97,618

$1,325,135
886,851

$1,427,414

87,671

$49,433

$74,735

$433,284

$567,750

$9,466
7,165

$17,306
11,202

$143,679
120,906

$151,721
103,895

$2,331

$6,104

$27,773

$47,826

$352,695
207,060

$393,151
185,8i3

$-2,378,685
1,684,232

$2,561,804
1,716,634

$145,635

$207,333

$694,353

$845,170

$583,983
230,103

$510,812
229,155

$3,510,715
2,002,363

$3,516,043
1,875,811

$353,889

$281,657

$1,507,852

$1,610,232

$63,715
36,462

$81,686

$497,031

33,077

316,831

$430,9:2
285,866

$30,253

$48,609

$180,290

$145,026

$45,501
26,895

$59,064

$311,649
226,550

$259,890

Expenses
•

,




18,558,035 07

223,918,853 15

27,399

859,664

Deficits, unavailable funds
D

attention

of

cities,

investors,

36

722,492 28

28,426,718 27

10,933,327 01
63,655,404 16
10,000,0fO 00
8.054,123 83
1,483,379 99
69,-317 55

1,440.493 12
149,900 00
14 30

10,400 00 >
2,120,000 00

$98,571,075 24

this number of the Chronicle.
A careful examination of the

papers warrants

$535,503

$536,238

43,745

274 282

316,179

$14,085

$66,869

$2c 1,023

$220,059

$1,329,172 $10,634,414 $10,526,911
4,533,232
517,154
4,312,407

$5,993,709
:is included

company's circulars and other
tbe opinion that this corporation, by a faithful
execution of its objects and purpose as set forth, may be made
one of the most valuable financial organizations introduced in
this market for some years past.
In many respects it possesses
unusual intrinsic merit, and its conception does credit to itsprojectors. Its charter is said to be a most valuable one, confer¬
ring the amplest powers for the transaction of the several
enumerated in its advertisement ; and a
comprehensive system of agencies and attorneys devised and
established by tbe company would seem to furnish to investors all
practicable facilities for attention to their business in any locality.
The company,
we understand, will not conduct a banking
business, preferring to take no commercial risks, and will not
branches of business

guarantee, in

1877.

1877.

1878.

$99,637'
+34,755

$97,723

$877,729
741,8T4

$793,065
533,768

$14,882

$41,850

$135,S55

$259,277

/—July 1 to Sept. 3\—k
'

1878.

1877.

1878.

1877.

£160,787
111,344

£179,452
125,929

£430,361

£485.102

338,393

363,613

£49,443

£53,523

£100,963

£121,489

and the officers of

railroad

191,186

$23,119 paid for steel rails, cross-ties, and for taxes.

600 00

81

States,
companies and others, is
invited to the card of the New York, New England & Western
Investment Company, of 10G Broadway, which will be found in
—The

$110,614

,,

43
00

United States notes
U. S. notes (special fund for redemption of
fractional currency)
National bank notes
Silver coin received in lien of currency....
Fractional currency and 1 and 2 year notes,
&c
r
Nickels and minor coins
New York and San Francisco exchange
Interest on District of Columbia bonds

counties, towns,

$44,430
30,344

September.

posits held by national bank depositaries

138,995
23,332
13,644,043
6,7c3

$225,966,578 50

$68,704

55,873

32,523 00

75,7t3 49

Speaker’s certificates, Forty-fifth Congress.
Redeemed certif’s of deposit, June 8, 1872.

$85,099

$6,322,007

Currency.

3

1,720 00

U. S. bonds and iuterest

$31,665

$782,018

2.

14,810,696 00
14,685,945 85
9,845,120 00
1,907,460 00

in silver....
Quarterly interest checks and coin coupons
paid
Registered and unclaimed interest paid....

Indiana—

profits

->

$142,400,135 29

Silver certificates
National back gold notes.
Fractional currency redeemed

$18,606

1878.

t This amount inoludes

•

Coin.

,

Net

1,589,189

23,358,070 29
30,236,420 03

Gold coin and bullion
S arnlard silver dollars
Silver coin and bullion
Gold certificates

following September figures have but recently come to hand:
/—Jan. 1 to Sept. .30. —
,
September.

Working expenses

oyo,oob 00

$1,271,105 51

ASSETS, DECEMBER

$287,744

$1,012,965

Grand Trunk of Canada—
Gross receipts

59355ft 55

$225,906,573 50 $98,571,075 24

$404,061

429,697

earnings

18,854 22

$10,000,000 00

Balance, including bullion fund..160,033,257 35

$91,135

* In
the figures “Jan. 1 to Oct. 31,” the Missouri River bridge
only for the months of July, August aud September.

Net

6,076 50

1,120 00

8,558,033 07

Treasurer's general account—
Interest due and unpaid.
Cal ed bonds and interest
Coin certifica es

$136,054

$1,442,662

Operating^ xpenses

Grand Rapids &
Gross earnings

1,S60 00
710,143 49

,

Union Pacific.—♦

The

f

113 51

general account—
Special fund for redemption of

St. Paul & Sioux City—

earnings

61,966 84

Fund for
Treasurer’s

-

Paducah & Memphis—
Gross earnings
Operating expenses

Net

1,290 00

1,539,189 97
redemption of naioual bank gold notes..

Nashville Chatt. & St. Louis—

ngs

99,660 25

Currency

Kansas Pacific.—

earn

—

16,789 04
3.833 94

-

Gross earnings
Expenses

Gross

13,786,939 85-

25 25

Pacific Railroads and L. & P.

fractional currency
Balance

5

Net

$9,927,163 33)
3,8i9,741 52 J

Treasurer's transfer checks ou’s'anding—
Gold
$596,438 01 I

s

%

Net

fund—

Canal Company
Comutrol'er of the Currency, agent for creditors...
Treasurer United States, agent for paying interest
on D. C. bonds

96,715

%

9,830,381 25

Secretary’s special deposit account
Currency and minor coin redemption account

$320,717

Canada—(excluding leased lines.)
$436,500
$363,600
270,909
215,800
Oper. expenses and renewals

Gross

of notes of national ba- ks

Five per cent redemption
United States notes
National bank notes

$4,755,129

$

$

..

$122,862
69,670

14,496,788 57

lat on”

Interest account
Interest account,

Great Western of
Gross earnings

..

37 Cur..|
3,414,842 20 cur., j

Silver

Net earnings

earnings..
Philadelphia & Erie—
Gross earnings

-j

National banks
Fund for redemption

1,281,719 96

1,281,719 96 COID.

i

TrpnsnrT nflippu

—

Expenses

Operating

2,366,499 84

“failed,” “in liquidation,” and “reducing circu-

$698,413

$38,161

$10,997

\

Net

8
3*, 190,000 00

$

JuneS, 1872
Post-ofiice Department account....

$1,290,114 $11,746,897 $10,285,021
5,(29,892
591,691
6,437,690

10.032

Net earnings

Net

Currency.

Coin.

redemption of certificates of deposit,

Fund for

—

Gross

Gross

2.

LIABILITIES, DECEMBER

Disbursing officers’ accounts—

Chicago & A lton—
Gross earnings

-

1878.

following statement from the office of the Treasurer for
It is based upon the
2 was issued last week.
actual returns from Assistant Treasurers, depositaries and super¬
$1,452,592 intendents of mints and assay offices.
The delay in issuing it
1,057,198 arises from the time taken in
getting returns from distant offices.
The

Oct. 31.—»
1877.

$193,686
150,478

Net earnings

Operating exp’ses and taxes.

t<o

$2)1,181
113,513

Gross earnings

Expenses, incl.extraordin’y,

Gross earnings

,—Jan. 1

,

net

1 to Oct. 31, of all

1877.

1878.

Atlantic Mississippi & Ohio—

Net

UNITED STATES TREASURY STATEMENT.

EXPENSES AND NET EARNINGS.

GROSS EARNINGS,

The statement below

617

THE CHRONICLE

14, 1878. |

dollars and cents, investments made for its corres¬

pondents; but proposes to give such careful attention to the
legality of form and amount and character of security of all
investments made by it as will warrant the investor in relying
with fill reasonable confidence on the safety of the investment.
Financial guarantees are very
the investor is

security.

desirable; but these often fail, and

finally thrown upon the intrinsic merit of his

The officers of the company are, as we are informed, men of long
financial experience and intimate and thorough acquaintance
with tbe business in hand. They are highly spoken of by prom¬
inent officials under State and national government, as being men
of strict personal integrity, and worthy of full confidence.

618

THE

CHRONICLE.

IDXouetavtjf Commercial JTugUsft Hews
RATES OP EXCHANGE AT LONDON AND ON
LONDON
AT LATEST DATES.

[Vol. XXVII.
Per cent.

Bank rate

] Open-market rates:
Per cent.
4 months’ bank bills......
t
6 months* bank bills
4,^@ \%
4 and 6 months’trade bills.
4x@5

|=

5

..

Open-market rates:
30 and 60 »1 Ays’ bills
3 months’ bills

4%&4% !

The rates of interest allowed
ifiXCHA N(4R AT

LONDON—
NOVEMBER 29.

discount houses for

EXCHANGE ON LONDON.

TIMS.

Paris
Paris

RATE.

short.

•25.2o @25 35
25.47 >$@23.52**
20.69 (220.73
20.69 @20.71
20.69 @-0.73
25.55 @25 60
12.2
@12.3
12 4% @12.5^

3 mos.

Berlin
Hamburg
Frankfort

Antwerp

44
4;
44
(4

......

Amsterdam.
Amsterdam

short.
3 mos.

..

...

Vienna

%•

Genoa

4 4

Naples

44

Madrid
Cadiz
Lisbon
Alexandria....
New Yora
'Rio Janeiro

4

11.97#&12.0.«
2?.12J4<&28.17&

DATE.

TIME.

Nov. 29.

short.

Nov. 29.

short.

Nov. 29.

44

Nov. 29.

44

Nov. 29.
Nwv. 29.

RATE.

25.27%
"

....

12.05

3 mos.

11*.60
■.7.30

t-hort.

Nov. 27.

4 4

3

days.

51H@>1X

.

•

•

•

.

.

.

•

%

,

3 mes.

60

...

.'

Other

60

days.

Calcutta

u. :y,d.
Is. 7ytd.

ii

Hong Kong..
8banghai

•

•

•

•

...

Nov. 28

6

mos
44

Nov. 23.
Nov. 27.
Nov. 27.

.

....

LFrom

deposits
27,060,490
Government securities. 14,737,672

44
44

U 8 d.

Other securities
20,639,931
Reserve of notes and
coin
'.. 12,743,42
Coin and bullion in
both departments
23,503 333

Is. td.

3s. 8% d.
5s. 1 Xd.

...

our own

correspondent!

Proportion of

London, Saturday, November 30, 1878.
During the current week, busine&s, not only in London, but
also throughout the country, has been
exceedingly languid, and
it almost seems that the
depression has been incr ased by the
inclemency of the weather. Much rain has fallen, but a

change
has just taken place and the weather is now clear and
frosty.
From all parts of the country,
however, the accounts respecting
our trade are
very depressing, and both in the agricultural and
manufacturing districts, there is a constant agitation on the part
of the

masters

for

reduction of wages.

a

In many localities there
are strikes; but it is
scarcely possible that the operatives or the
agricultural laborers can succeed in resisting the reduction, as no
necessity exists for the employment of much labor. The causes
producing these results are numerous. The Liberal party
attribute the present depression of trade to the
foreign policy of

the Government.

party,

While

on

the other

though not denying that the

hand, the Conservative

present unsettled state of

political affairs is prejudicial to our commercial interests, is at
the same time of opinion that the course of
policy the Govern
ment is adopting is calculated more to
bring about a permanent
settlement, which is most desirable, than the pol:cy of
having
the settlement of
existing difficulties to a more convenient season.
It may be asserted that neither tradenor
Stock

Exchange

business is in an inflated condition.
Now that the bank and the
Arms which had been
carrying on an unsuccessful, because

reckless, business
that

we

ment

are

have reached

in
a

liquidation, there is

safe

bottom, and that

only is requisite, in order

to

reason to

believe

little encourage¬
create some remunerative
a

business.

It is, of course, late in the
year for merchants to extend
their trade; but these are certain and
indisputable facts, viz.,
that prices are low, bread is

cheap, and that

at

a

very reasonable

price.

These

are

to

money is obtainable
sound bases upon which

work, but, on the other hand, there U the
indisposition on the
part of our operatives to work cheaply, and this is a serious
matter, when we bear in mind that foreign
competition is more
likely to increase than diminish. It is, however, quite clear that
the operative class will have to come to its
senses, failing which,
theix sufferings will increase.
The only adverse feature in this
week’s Bank return is an
increase of £164,568 in the total of
“other deposits.”
The
total of these is

now

above the average.
of bullion,
against
leseive
*

of

notes

The latter item

£27,060,490, which

is still about £7,000,000
increase of £170,171 in the stock
a recorded influx of
£191,000, while the

There is

and

is

coin

an

has

been augmented

by £432,626.

£12,743,428, against £11,547,182; the
stock of bullion
beiDg £26,503,333, against £23,311,547 in 1877.
The demand for
money at the Bank of England continues to fall
now

off, there being a reduction of £151,394 in “other
securitits.”
The total, however, is
£20,639,981, against £17,054,368 last year.
The proportion of reserve to
liabilities amounts to 41 93
per cent,
against 4CE91 per c. nt la-t week, and 47 02 per cent last
There has been

a

settlement

year.

on

the S ock

Exchange this

week,
scarcely any effect has been noticed in the
money market.
Stock Exchange
requirements have, in fact, been very
unimpor¬

but

tant, and

as

limited, the
-

the

supply of

rates of

mercantile paper has also been
very
discount have bad a downward

The Bank rate
remain#,

tendency.

however, at 5 per ceDt; but in the
market, the quQta£iong fpy discount are
easy, as JqIIows :




1578.

£
Circulation, including
Dank post bills
23,579,943
Public deposits
3,111,753

...

...

Bombay

open

.'

3%

Bankers’ Clearing House return, compared
with

95
4.82

days.

m
*

statement

...

....

Nov. 27.
Nov. 29.

....

...

Valparaiso

a

-

93

.

Per cent.

the four pre*

vious years.

47.55

mos.

....

subjoined:

Bank of

....

28.12k @ 19.U 3*

by the j >int-stock banks and

showing the present position of the
England, the Bank rate of discount, the price of Consols,
the average quotation for
English wheat, the price of middling
upland cotton, of No. 40 mule twist, fair second quality, ani the

20 46
20.46
25 30

Nov. 29.
Nov. 29.

%

Annexed is

20.46

4 4

are

Joint-stocK banks
Discount houses at call
Discount houses with 7 days’ notice
Discount houses with 14 days’ notice

LATEST
ON—

deposits

1877.

1876.

£

English wheat,av.price
Mid. Upland cotton...

12,879,615
18,913,2J2

16,902,034

10,636,140

S,639 905

23,3 r, 547

29,456,183

23,313,685

19,951,345

47-02

5314

5 p. c.
96
41s. 2d.
5 7-16d.

4 p. c.

2 p. c.

97^

95^

9Ead.

£

26.656.133
4,702,126
17,769,211

11,517,133

41*93

No. 40 mule twist
Clearing House return.

1874.

£

27.079,883 27,902,413 28 0 )0,162
3,079,430
6,533,842
•3,876,277
20,376,435 21.916,197 22,678,5^0
13,578 372 15,739,297 11,852,842
17,051,365 16,752,631. 20,053,932

reserve

liabilities
Bank-rate
Consols
to

1875.

£

51s. 5d.
6 7—Hid.

I0>^d.
81.38l.t00

43s. 2d.

6‘,'d.
IlMd.

•

•

•

■

.

3 p. c.
x 93 >4

46s. 8d.
Is

6 D.

c.

43s. 6d.

7Xd.
Od.

Is. Od.

80,812,a0 129,721,000 135,623,010
The failure has been announced this week of Messrs.
Fenton,
bankers of Rochdale and Hey wood. The failure seems to

have

been

caused

by Stock Exchange speculation. The Manchester
Guardian, of Wednesday, says :
The announcement of the stoppage of Fenton’s
bank, made
yesterday, was a profound surprise to the great majority of the
people of Rochdale. The coming collapse was rumored early on
Monday, and other banks were warned to prepare for a run upon
tbeir funds; but the information was confined to a
very limited
circle, and did not get to the general
public until yesterday
morning. It cannot be said, however, that any undue disturb¬
ance of public feeling followed
upon the announcement.
Roch¬
dale yesterday was fairly quitscent. There wa< a s
ight run
upon the bank of Messrs. C. Royds & Co. ; but that firm had been
forewarned, and the demand upon them was
comparatively so
small that they could never have had
any diffieuEy in meeting
it. The persons withdrawing were
mainly from the rural dis¬
tricts, who, it seems, are most easily alarmed in these matters.
Beyond this there was nothing in the outward aspect of the
town to denote that the collapse had occurred.
Sympathy with
»he unfortunate depositors was
very generally felt, though this
was in some cases tempered
by a feeling that many of them
might have saved themselves if they had carefully watched “the
way in which things were going.”
“

It is announced

that

the

British

Loan & Discount

Company,
Limitei, having offices in Luce street, Pr» stop ^Lancashire, have
been compelled to close their business
through the panic which
during the past few weeks has seized upon tne depositors. In
that short period the company have
paid out about £57,000. The
company was started some years ago, with a capital of about
£20,000, in £10 shares A and B, on which respectively £5 and £3
were paid.
The liabilities are stated at about £60,000; but with
the large amount of securities held by the
company, it is thought
that a call of not more than 10s. per share will be
required to
enable them to pay the whole of the
depositors 20s. on the
pound.
The sequestration of the estate of Henry
Taylor & Sons, grain
and flour merchants, Glasgow, has been
announced, with liabili¬
ties amounting to £130,000.
Mr. William Taylor, one of the
imprisoned directors of the City of Glasgow Bank, is the senior
partner of the firm, and the liabilities do not include the bank
call on the shares held by him.
A meeting of the creditors of Messrs.
Smith, Fleming & Co.,
was held on
Wednesday, and the following were the principal

resolutions passed.

First, That the affairs of John Fleming, Robert M’llwraith

and

William Nicol, the youDger, shall be liquidated
by arrangement,
and not
in

Second,

bankruptcy.
That Mr.

R.

P.

Harding,

of

No. 8. Old Jewry,

accountant, should be appointed the trustee, with a committee of
i’ spection, Consisting of Mr. Jamieson, one of the
liquidators of
the City of Glasgow Bank ; Mr.

Cortield, of Henry Rogers, Soa &

Co.; and Mr. Beith, of Beitb, Stevenson & Co., Manchester, with
power to fix the remuneration of the trustee and to audit the
accounts, two to be a quorum; and that Messrs. Murray, Hutchins,
and S iriiug, of Birchin
Lane, should 1)3 the solicitors for

registration.
The

following details, made to the meeting by Mr. John
Fleming, will prove of interest.
In January, 1870, the
capital of our London, Bombay and

December

THE

14, 1878.]

Kurrachee firms aggregated £541,000; but,

CHRONICLE.

allowing for bad debts,

should be taken at £400,000.
In April of that year we settled
with the estate of our late partner, Mr. J. Smith, who died in
Jan.,

I860, and having regard to the existence of several accounts of
doubtful value, we compromised for £100,000, of which £50,000
was taken in property, £20,000 in cash, and £30,000 in
obliga¬
tions extending over three years, of which £14,000 is still unpaid.
About the middle of July, 1870, our Liverpool correspondents,
Nicol, Duckworth & Co., informed us of their having incurred
heavy losses through speculations in cotton, of which until then
they had kept us in ignorance, and that, as their means were
quite exhausted, they must almost immediately stop payment.
They were already indebted to us to the extent of £168,000, but
through ultimate deficiencies in the securities the final loss sus¬
tained by ourselves and our foreign houses by their
collapse was
£263,000. We had also heavy losses of our own at that time
confronting us, owing to the sudden and severe depression caused
by the outbreak of the Franco German war, which ultimately
aggregated £90,600, and we felt there was no course open to us
but to suspend payment.
At this time we were indebted to the
City of Glasgow Bank for advances on our own account altogether
amounting to only £26,000 cash, and £122,000 credits; and as these
were more than covered
by substantial security, the bank could
not have suffered any loss by our stoppage.
During the three
years immediately preceding, the combined net earnings of our
three firms in London, Bombay and Kurrachee exceeded an aver¬
age of £90,000 per annum, and we could see no reason why such
earnings should not be continued, if only our credit could be main¬
tained, particularly having regard to the very low level to which
prices of goods and produce had fallen in consequence of the war.
I went to Glasgow, and had a long interview with the
manager
and several of the directors, at which our position was
very fully
discussed, and our stoppage was by all strongly deprecated. Un¬
fortunately, my partners and I did not regard our position as
irretrievable, and were not unwilling to accept assistance, pro¬
vided it could be given creditably, and so as to
preserve our
money-making power. I did not ask assistance, but when it was
offered I did not feel justified in refusing it,
providing it

619
GOLD.

Bar Gold, fine
Bar Gold, refinable

e.

.per oz. standard.
per oz. standard.

>panish Doubloons
South American Doubloons
United States Gold Coin
German gold coin

per
per
per
per

*

oz.
oz.
oz.
oz.

77
77
73
73
76
76

SILVER.

Bar Silver, fine....
Bar Silver, con’ng 5 grs.
Mexican Dollars
Chilian Dollars

per oz.

Gold

standard, last price.

per *_z.
per cz ,
.'. ...per oz ,

Quicksilver, £6 12s. 6d.
The

following
following

are
are

the

principal foreign markets

....

3 %($....
d.
d.
..

....

....

per cent.

of

discount

at

the

:

Open

rate,

mark’t.

5
5

5
4

Geneva

....

3**(g>

Bank

Hamburg.
...

....

Open

4
5

Leipzig

9

mark’t.

4#

Genoa

....

@
@

rate,

Brussels
Amsterdam
Berlin
Frankfort

9

.

la t p ice.
last j rice.

rates

10*@

Bank

P- c.

'

,

„

current

s. d.

@ 77 9X

to*.®
51X®
‘.9*®
49 <§>....

standard.

D scount, 3

d.
9

4

p. c.

I

p. c.
6

2% @2% ! St. Petersburg
3%
I Vienna and Trieste...
4
I Madrid,Cadiz and Bar4

I

celona

6

4
4

@4& 1 Lisbon and Oporto....
(g,4>^ New York.
4k'&4# J Calcutta.
4

| Copenhagen

4

p. c.

4Vi@5
6

5

@7
@6
4%@6
5

....

4

4@4>£ 4 @4#

The

weekly sale of bills on India was held at the Bank of
England on Wednesday, and £200,000 was allotted to Calcutta.
Applications at Is. 7 7-16d. the rupee received 95 per cent.
Tenders for £300,000 will be received on the 4th of December.
Stuck Exchange business during the week has been
upon a
most restricted scale. * The public seem to have lost all interest
in securities; but this may arise out of the fact that the funds
available for investment purposes are very limited.
Speculative
business is also much restricted;
but, notwithstanding some
irregularities, the markets have, on the whole, been tolerably
firm in tone. No fictitious support is now afforded, ani hence
there is reason for believing that some
judicious and profit¬
It seems to be tolerably clear
could be rendered in a manner which I conceived essential able investments can be made.
to
secure
success.
Much discussion took place, and when that capitalists are not sellers of stock, as the markers are firm In
it seemed to me that the magnitude of the
difficulty and tone, in spite of a most restricted business ; but purchasers are
the corresponding requirements were not
fu’ly appreciated, few, more no doubt from a want of
capacity to buy than from
and proposals even made of arrangements
calculated, in my
any
disinclination
to
do
so.
Business
is expected to rule very
judgment, to bring all concerned into discredit, I refused
to go, and left the room.
quiet
I was, however, requested to re¬
during the next six weeks.
turn, and ultimately consented to undertake what I knew must
In the state of the wheat trade, there has been m
important
be a long and arduous, though I believe not
hopeless, struggle, movement; but there has been a
tendency
to
firmness
as
regards
upon assurances being given of e-ff ctual assistanc •.
The hopes
the better qualities of produce.
with which my partners and I entered upon the
Oar
importations
are
liberal,
struggle were all
doomed to disappointment. Our credit never recovered the shock but are not largely in excess of our
requirements.
it sustained in 1870, and the Eastern trade, with the
exception of
During the week ended Nov. 23, the sales of home grown wheat
a short
period of prosperity in 1871, has been depressed
in the 150 principal markets of
ever^
England and Wales amounted
since, and has latterly been disastrously bad. Our recuperative
power failed.
We sustained heavy losses in our trading, and we to 49,580 quarters, against 39,524 quarters last year; and it is
have in addition since 1870 been subjected to losses
estimated that in the whole
Kingdom they Were 193,320
aggregating |
over £900,000 through our relations with other
firms.
The quarters, against 158,100 quarters in the
corresponding period of
enormous losses which have thus accrued
have, however, been 1877. Since harvt st the sales in the 150
principal markets have
greatly aggravated by charges for commission and interest
through the necessity for keeping them floating, which we were been 728,450 quarters, against 616,967 quarters; while in the
only enabled to do by the assistance of the acceptances of the whole Kingdom it is computed that they have been 2,913,800
bank.
Daring the eight years which have elapsed since 1870, we quarters against 2,472,000 quarters in the
corresponding period
have kept the bank constantly informed as to the state of our
of last season.
Without reckoning the supplies furnished exaffairs, submitted our balance sheets, monthly statements of bills
payable and of incomings and outgoings, and have made frequent gran&ry at the commencement of the season, it is estimated
reports of our own position and that of the firms closelv related that the following quantities of wheat and flour have been
with us, and whom we were, with the full
knowledge and concur placed upon the British markets since harvest:
rence of the bank,
compelled by circumstances to support. It
1878.
1877.
1876.
1875.
has long been obvious to us that, unless some
cwt.
cwt.
extraordinary piece
cwt.
cwt.
of good fortune should befall us, we could never clear off our Imports of wheat
15,307,446
9,407,005 17,593,869
Imports of flour
debt to the bank ; but we did believe it
1,707,9 0
1,794,121
1,565,666
1,540,449
possible, were trade only Sales of home-grown produce.
10,711,500
12,038,500
10,703,000
moderately prosperous, to earn the charges upon it. We would
have gladly relieved ourselves from an intolerable burden
Total
..27,660,991 27,813,067 23,011,171 29,842,318
long Exports
of wheat and flour....
649,323
567,727
ago, but having accepted such large assistance we did not feel
317,604
74,418
ourselves, and, indeed, had ceased to be, our own masters; ar.d
Result
27,011,668 27,245,340 22,693,567 29,767.900
be;.Dg completely ignorant of the position of the bank and of the Wer. price of Eng. wheat for season 4*s. 6d.
55s. 4d.
47s. 0d.
47s. 3d.
e

....

.

..

.

existence of the state of affairs revealed since its
stoppage, we
felt ourselves bound to struggle on when called
upon to do so by
the bank.
It may perhaps be said that we
ought to have had the
moral courage to disregard the pressure
put upon us to continue
such a struggle; but we were bound to believe that those who
supported us, and on whose behalf we were carrying on our busi¬
ness, knew better than we did their own power and
resources;
and we could not but suppose that due

regard was had to our
position, and provision made for the probability of loss either by
writing off a portion of our indebtedness or by due addition to the
reserve

fund.

was not

that

It

was

until Messrs.

natural

ou

M’Gregor

my part to suppose this, and it
& Anderson made their report
this had not been done.

had any knowledge that
Gold has been in demand for
Germany, and, in addition to the
we

absorption of all
has been

our

importations,

withdrawn

from

moderate supply of bar gold
the Bank.
Rather a cons.i ier.ib e
a

supply of Australian sovereigns, however, amounting

.

The

following figures show the imports and exports of cereal
produce into and from the United Kingdom since harvest, viz.,,
from the first of September to the close of last
week, compared
with the corresponding period in the three
previous years:
IKFOBTB.

1878.

1877.

1876.

1875.

.%8« 7,44 i
3,118.951

9,407,003
.3,456,865

17,543,869

2 883 516

3,139>5J

407,614

521,376
1,146.8U
7.133,019

1.234.684

l/orjico

1’,794,121

<Vheat

l

Barley
Oats

...

Peas
Beans

Indian Corn
Flour

4.(38,593
3, *.22,733

11,065.7'8
1,565,666

2,991,746
V 92,185
277,478
922,383
5,785,833
1.540,44ft

304,202

69,905

426,958

EXPORTS.

tfbeat

555,897

Barley

23,3 IS

Oats
Peas

5,0c 1

Beans

'..

1.987

’

v

42.464

5.K 8
40.591

5,938

6,455

7,167

72,414
4,147

7,237
10.713
3,252
£230,000 Indian Corn
81,‘63
149.930
33,075
7,56ft
has been eent into the establishment. The silver
F'innr
13.4 2
11,830
market,
4,513
notwithstanding that Germany has sold considerable quantities,
English Market Report#—Per Cable.
has improved, the price of fine bars
having risen to 50£i @50£d.
The daily closing quotations in the markets of London and
per ounce. The steamer for the East has taken out £255,000—
Liverpool
for the past week, as reported by cable, are shown in
a
larger supply than for some time past. Mexican dollars are the following
summary;
firm at 49$d. to 49£d. per ounce. .The
following prices of bul¬
London Monty and Stock Market.—The bullion in the Bank
lion are from Messrs, Pixley
& Abell's circular:
of England has decreased £369,000 during the week.




to

..

.

..

v

CHRONICLE.

rHE

620
Tnes.

Wed.

Tbar.

Fri.

Dec. 10.

Dec. 11.

Dec. 12.

Dec. 13,

50*
94 1-16

50*
94 1-16

Silver, per oz
d, 50%"
Consols for money. 94 3-16
•

.

**

account.

94 7-16

.

D.8.6S (5-20s) 1867... .108%
O. 8.10-408
.110
U. S. 5s of 1881
U. S.4*s of 1891.... 106 %
Erie com stock
18)4
79
Illinois Central
.

.

.

Pennsylvania
Pliila. & Reading

3IA

.

50*

59

94 1-16
94 5 16

93 15-16
94 3-16

108*
106*

1W2

18*

79

79

108*

108*

10 9%

109*

109*

108*
106*

108*
106*

109*
10b*

is*
7:>

12

..

106*
lb*
c2

32

2*

c

.

•

.

12*

....

....

94 7-16

x’.Ot*
109*
108*
lGtn/2

108%

13*

94*

94*

94 5-16

10<*

80

5i*

•

Mon.
d
24 0

Sat.

d.

Flonr(extra State)....#bbk 24
Wheat,spring,No.l $ 10) lb
do
do
do
do
do

0

•

do No.2 new “
winter W. new “

8 2
8 19

Southern, new. “
Av. Cal. white.. “

9

Cal. club.

s.

7
9 10

9

“

•

3

6

Thur.
d.
23 6

Wed.
d.
23 6

s.

s.

-

.

•

.

9

9

24
23

3
3

8 1
9
8
8 11
9 6
9 9
24
3
23 3

Mon.
s.
d.

Tues.
8. d.

Wed.
8. d.

41

40
23
26

40
23
26

8 2
8 10
9 0
9 7
9 10
24
3
23 6

0

Corn, mixed soft, old, $ qr. 24
do prime, new
“
23

•

•

Tnes.
8.
d.
24 0
8 10
8 1
8 9
8 11
9 6

Fri.
d.
23 6
•

8

8

21

3

9
9
24

23

3

23

Liverpool Provisions Market.—
Sat.
d.

s.

Pork, Wes'crn mess..79 bbl. 41
Bacon, long cl’r, new/£ cwt. 24
Bacon, short ciT,

new

0
0

26

“

2j

6

Beef, prime iness
$ tc
Lard, prime West..
cwt. 32
Cheese, Amer. choice.
“
46

0
0
6

21
»

.

.

32
46

0
6

Liverpool Produce Market.
Sat.
s. d.

Tallow, prime City..
cwt 36 9
Spirits turpentine
'<
22 0
Rosin, common
“
4 9
Rosin, line
“
10 0
Petroleum, refined..
gal
Petroleum, spirits....
“
....
..

U
0
#

32

0

46

0

32
46

.

.

40
23
25

f

6
6

.

32
45

0
0

d.

8.

6
0

2)
26

6

.

.

0
6

0
6
0

Fri.

Thur.
8. d.
40 0

.

0
0

Same time in—

$14,363,364
1*,787,616
12.743,581
6,170,744

19,520,688
5,505.838

31
45

.

9

0

Customs.

Coin.

“

7

$237,000

$23*,363 PI

9

280,000
203,003

234,604 11
315,181 42

“
“

2 ,5,000
317.000

“

1,963/46 03

248,000

759,767 15

10
11
12
13

Tnes.
8. d.
36 9
22 0
4

9

10

0

Wed.
8.

ii.

36
22
4
10

9
0
9
0

Fri.
8. d.

Thur.
8. (1.
36 9
22 0
4 9
10 0

36

22
4
10

9
0
9

0

Exports for tiie Week.—The imports of
compared with those of the preceding week, show
an increase in dry goods and a decrease in general merchandise.
The totai imports were $5,736,894, against $5,748,683 the pre¬
ceding week and $5,369,231 two weeks previous. The exports
for the week ended Dec. 10 amounted to $6,164,702, against
$7,195,710 last week and $6,783,264 the previous week. The
following are the imports at New York for week ending (for
dry goods) Dec. 5 and tor the week ending (for general
merchandise) Dec. 6:
FOREIGN IMrORTS AT NEW YORK FOR THE WEEK.

1875.

1876.

1877.

1S73

$1,02-1,670

$1,165,838
4,572,649

$1.029,60S
4,707,286

General merchandise...

3,870,713

$764,133
3,096,465

Total for the week..

$4,901,413
300,1'4,230

$3,862,593
201,810,888

$5,738,487
297,0:9,019

$5,736,S94
263,3.3,489

$311,345,049

$265,673,486

$302,797,500

$269,650,383

Since

In

January 1

...

report of the dry goods trade will be found the imports
of dry goods for one week later.
The following is a statement of the exports (exclusive of specie)
from the port of New York to foreign ports for the week ending
our

EXPORTS FROM

NEW YORK FOR THE WEEK.

1875.
For the week

1876.

$0,540,960

1878.

1877.

$6,662,54C
254,591,124

$6,583,187
270,659,265

*6,164,702
321,361,894

January 1
$245,481,262
$261,253,664
The following will show the exports of
New York for the week ending Dec. 7,

$277,242,462

$327,526,596

Previously reported....
Since

238,940,282

...

specie from the port of
1878, and also a com¬
parison of the total since Jan. 1, 1878, with the corresponding
totals for several previous years:
Dec. 5—Str. Frisia:

London

.

Dec. 5—Str. City of New York.

....

_

..Liverpool

*
.

Dec. 7—Str. Germanic

Liverpool

Dec. <—Str. Rhein

London

Ainer. silver bars.

1877
1876
1875
1874
1873
1872

Dec.
Dec.

2,500

Amer. silver bars.

23.500

5 franc pieces....

1,500

Mex. silver dols
Amer. sil. * dols.

74,529
2,i 00
80,000

.

Mex. silver dols..

$159,099
11,781,146

($6,124,741 silver, and $5,815,434 gold)... .$11,910,175
Same time in1871
42.802,417 I 1870
67,971.745 j 1869.
54,391,284 | 1868
48.140,769 I 1867
69,4)76,657 | 1866
[

|

specie at this port during the

$61,234,145
.

,

,

,

same

57.804.691
30,917,244

69,837,446
47,093,994
60,497,607

periods-have

2—Brig Julia B1 ike
Santiago deCuba. Amer. silver
2—Str.City of Vera Cruz... .Vera Cruz
Amer silver

$8,0 0

Foreign silver,...
Amer.
r,

tt

,

Dec. 3—Helen...,.

Ruatan

'

,

,

_

Dec. i— Str. Colon
Dec. 4—Sir. Saratoga

Aspinwall
Havana

_

,

Dec. 4—Str.
_

_

City of New York...Vera Cruz

_

Dec. 5 -Schr. Marcia Reynolds
Dec. 6—L. A. Van Brunt
Dec. t—Str. Crescent City




*

Payments.
>
Currency.

,

Coin.

#553,522 C6

$393,292 74

$555,550 72

909,208 53
406,259 47

602,305 69
559,110 33
573,339 83
247,717 30
622,784 18 1,152.353 99
367,472 24
230,184 91

229,345 78

552,634 09
390,243 4 4

-

500,256 90

245,794 93

$1,550,000 $5,303,782 95 $3,221,710 3> $2,828,460 20
122,962,139 33 46,705,225 49
Balance, Dec 13
125,437,453 08 46,885,722 48
Total

#3,041,213 37

St. Paul & Pacific.—The earnings of this road for the year
ending June 30 are published as follows :—

JRiceipts.
First Division
Branch Line
Red River & Manitoba...

....

1377-78.

1876-77.

$595,827
351,396
111,113

$175,580
300,398
$775,978

Expenses.
First Division
Branch Line

$336,24 4
....

Red River & Manitoba...

167,832

147,500
....

.

Total

....

$622,451

$483,744

$?36,60)

$130,336
152,898

Net earnings:
....

....

....

....

183,564
45,712

....

$292,234

Total

The Manitoba connexion was t.o be completed this week, when
the track of the Canadian Pacific’s Winnipeg Branch was to reach
the border at Emerson.
Next week regular trains will probably
be run from St. Paul to Winnipeg and bort Garry.

South Mountain (Pa.)—The trustees

under the mortgage

on

this road have obtained leave from the United Spates Circuit
Court to re-open the decree of foreclosure granted in October
last, and to file an answer thereto.

Virginia State Delif.—The Governor said in his message that
Virginia at present is about $29,350,8SS, includ¬
ing $20,224,378 tax-receivable coupons, $7,307,933 “ peelers,” and
$1,818,375 “sterling.” The accrued and unpaid interest on thesevarious securities amounts to about $4,200,000, and the annual
deficit is now, including interest on the literacy fund, $834,952,
or nearly three per cent of the total debt.
At this rate the
unpaid interest will equal the principal of the debt in 35 years.
The revenue at present applicable to the payment of interest is
$972,202, and this, nevertheless, is derived from a State tax of
50 cents on the $100.
The total interest required to be paid is
$1,742,865, and to meet the deficit an additional levy of at least
23 cents on the $100 will need to be made.
This, says the Gov¬
ernor, is more than the people can stand, and, happily, the bond¬
holders do not demand any such sacrifice.
They are willing to
take the long bonds bearing 4 and 34 per cent interest.
At these
rates the deficit would be reduced to $453,G15, which can be met
by an increase of 15 cents tax on the $100. It is quite possible
that, with a more rigidly enforced economy iu general expendi¬
tures, the tax rate will not need to be increased above 10 cents on
the $100.
To induce the holders of these bonds to surrender the
difference of interest, it is proposed to offer them a bettor bond in
exchange—one that gives better security than that upou which
the present consols rest.
This will be found in the text of the
bill which the Governor has submitted to the Legislature, and
especially in the third section, making specific provision for the
sinking luud by an annual levy of 2 cen.s on the $100 after 18S5,
the sums so received to be managed by a special commission/and
to be applied exclusively to the purchase and redemption of the
bonds created by the act.
the total debt of

—The holders

of

the

consolidated bonds of

the St. Louis &

Railway Company are notified by tbe committee,
Messrs. George Opdyke, M. K. Jesup and Jacob H. Sckiff, that,
decrees having been entered upon the mortgage securing these
bonds, holders who desire to share in the benefits of any action that
may be taken by the committee oa behalc of the holders of the
bonds coming into the ‘‘organization agreement,” mast, on or
bafore the 1st day of January. 1879, deposit their bonds with, the
Continental National Bank, subject to the order of the committee,
and pay the amount of one quarter of one per centum thereon
under the.terms of the said agreement.
S mtheastern

#25.377,775

The imports of
been as follows :

$25,000

Mex. eilvir dols..

Total for the week ($159,029 silver, and $
gold)
PrevionBly reported ($5,965,712 silver, and $5,815,434 gold)

Total since Jan. 1. 1878
Same time In—

Sub-Treasury have been

Currency.

1.792.815 73

First Division
Branch Line

and

Previously reported

6,764.924
3,095.800
9,579,899

Total
Mon.
s. d.
36 9
22 0
4 9
10 0

Cgtf mmcvcint anttiHisccttattccms items.

Dry Goods

It, 533.494
14.974.152

Balance, Dec. 6

Red River «& Manitoba

Imports
last week,

#8,562,209

1871
1870
1869
1868
1867
1856

,

Dec.

$164,729

($11,521,181 silver, and $7,195,321 gold)..# I2t717,502

The transactions for the week at the
as follows:
Receipts.

.

0
8
10
4
8
3
3

8

1
8
9
8 11
9 6
9 9

8

18,552,773

8.

.

.

Total for the week ($103,594 silver, and $61,135 gold) ..
Previously reported ($11,417,587 silver, and $7,135,186 gold)/.

1977.
1876.
1875
1874
1873
1872.

Liverpool Cotton Market.—See special report on cotton.
Liverpool Breadstujfs Market.—
s.

14,5uO

Total since Jan. 1, 1878

.

$£93

Gold dust

Same time in—

...

Amer. gold

Aspinwall

D.:c. 6—Str. Crescent City

Mon.

Dec 9.

Sat.

Dec. 7.

[Vol. XXVII.

..

Puerto Cabe’.lo...

gold

Foreign gold

Amer. silver

'
....

Amer. gold.. .....
Amer. gold.......

silver bullion

.

Foreign gold

Amer. silver

Aspiuwall

Foreign silver
Amer. Bilver

Foreign gold

3,900
3< 0

69
2,203

22,2*3

1.379

1,200

Amer/gold

Nassau

—Attention is directed to the advertisement of Mr. W. H. Gran-

bery, 14 New street, New York, informing the public that he
buys and sells decimal lots of all active stocks dealt in at the
New York * Stock
Exchange, on the usual margins.
Mr.
Granbery is well known on the street and orders will no doubt

347

Amer. gold

Foreign gold..

5,2^6

78,381
13,270

2,850
..

1,150
360
$761
3u0

receive the best of attention.

—Messrs. Walston H. Brown & Bro. call

attention to the first

mortgage 7 per cent bonds of the Sioux City & Pembina

RR. Co.,

$6,000 per mile of road, and guaran¬
teed, principal and interest, by the Dakota Southern RR. Co.
These bonds are well worth the examination of investors, being
offered at 87} and accrued interest.
issued

on a

basis of less than

December 14,

THE

1878.]

CHRONICt E
Interest
Period

gatilicrsr ©alette.
NATIONAL BANKS ORGANIZED.

The United States

Comptroller of the Currency furnishes the
following statement of National Banks organized :
2,403—Farmers’ National Bank of Valparaiso, Indiana. Authorized capital,
$50,000; paid-in capital, $30,000. Joseph Gardner, President; Geo F.

Bartholomew, Cashier.

Authorized to

commence

621

business Dec. 5, 1878.

DIVIDENDS.
The following dividends have recently been announced:

6s, 1881
reg
6s, 1881
coup
6s, 5-20s, 1865...reg
6s, 5-20s, 1865 .coup.
6s, 5-20s, 1867...reg.
6s, 5-20s, 1867 .coup
6s, 5-20s, 1868...reg.
6s, 5-20s, 1868 .coup.
5s, 10-40s
reg.
5s, 10-40s
coup.
5s, fund., 1881...reg.
5s, fund., 1881..coup.
4%s, 1891
reg.

J.
J.
J.
J.
J.
J.
J.
J.
M.
M.

Dec.
7.

Dec.
9.

Dec.
10.

A
A
A
A

J. 106% 1061s 106*8
J. *109*8 109*4 *109
J. *100% *100% *1005s
J. *103% 1035s *1035s
A J. 103*8 *102% *103
A J. *105'V
*105%

Dee.
11.

Dec.
12.

106*4 *106*4 *10638
1091s 109*8 109*4
*100% *10058 100%
*10358 *10358 103%
*103

*103
*106

*103
106

106

A^J. *10638,
A J.
A 8.
A 8.

Q.-Feb.

Dec.
13.

*106*2 *106*2 *106*2 *106*2
109% *10913 *109*2 109*2 *109*2 109%
1075s, *107^ 107*2 1075s *107*2 107%

107 s8 *107*2 *107*2

*1075s *107*2

10778

1063s IO6I4 106*8 106*4 106*4 106*2
Q.-Feb. *106*8 *10613 106*8 106*8 106*4 10638
Q.-Mar. *104*8 10418 *104
*104*8 *104*8 104%
4%s, 1891
coup. Q.-Mar. 104% 104
104*8 104*8 104*8 *104*4
4s, 1907
993a *99% *99% *99*8
reg. Q.-Jan.
993s
99*2
4s, 1907
coup. Q.-Jan.
10038 *100*4 100*8 100*8 1003s 100*2
6s, cur’cy, ’95-99. reg. J. A J. 1203s 120*8 11934 120 i *11934 *119%
*
Tliis is the price bid; no sale was made at the Board.
..

op

Per
Cent.

Company.

When

Books Closed.

Payable. (Days

inclusive.)

Railroads.
Central Railroad &

Banking Co. (Ga.).

$2 50

Dec. 19.
Jan. 1.

Lehigh Valley (quak)

1

New York Central & Hudson (quar.)..

Dec. 16 to Jan. 18

Syracuse Binghamton & New York....

2
4
3

Jan. 15.
Jan. 2.
Jan ],).
Jia. 2.
Doc. 30.

Miscellaueous.
Atlantic & Pacific Telegraph (quar.)...
Western Union Telegraph (quar.)

u
lx

Do:. 30.
Jan. 15.

Dec. 20 to Dec. 30
| Dec. 21 to Jan. 15

\

Fitchburg
Mor.is & Essex

New York & Harlem

The range in prices since Jan. 1, 1878, and the amount of each
class of bonds outstanding Dec. 1, 1878, were as follows;
.

Lowest.

FRIDAY, DEC. 13, 1878-5 P. M.
Tlie

Money Market and Financial Situation.—The week

lias been

quiet

in financial circles, and the Stock Exchange
transactions have shown only a moderate speculative business.
Tlie principal measure of any importance in
Congress was the
bill “to regulate^ inter-State commerce, &c.,” which
passed the
a

Range since Jan. 1, 1878. |

one

House of

Representatives by a considerable majority.
Tlie
meeting last week of tlie officers of leading trunk railroad lines

6s, 1881
cp.
6s, 5-20s,’65»cp.
6s, 5-20s,’67.cp.
6s, 5-20s,’08.cp.
5s, 10-40s...cp.

5s,fund.,’81.cp.
4*23,1891 ..cp.
4s, 1907
cp.
6s, cur’ney.reg.

Highest.

Amount Dec. 1.

Registered.

105*8 Feb. 25 11034 June 27 $199,772,950
102% July 22 105% June 6
22,184,550
104% Aug. 12 1085s June 27 116,224,000
111
2
10634 Jan.
*4 June 28
16,193,500
103 78 Mch. 1 1093s July 29 144.280.800
10234 Feb. 25 10778 July 30 249,990,900
10178 Mch. 1 105*4 Nov. 27 162.555.800
9934 Oct.
3, 10234 Jan. 9 122,899,050
117% Apr. 5! 122% May 25
64,623,512

Coupon.

$82,963,400
14,038,900
194,390,000
21,271,800
50,285,500
258,449,450
87,444,200

54,600,950

State aud Railroad Bonds—There
has been a moderate
business in Southern State bonds, and the Louisiana consols have
fluctuated with the varying reports as to the

prospects of the
The propositions from Virginia

payment of January coupons.
bondholders

are

“re-adjusters”

well

received at Richmond, but

of

some

the

naturally dissatisfied with the present, as
between the West and the seaboard, in New York, and the estab¬ they probably would be with any proposition from London.
Railroad bonds have shown a little decline in
activity, and
lishment of a freight “pool” to last for five years, presented one
those issues sold heavily on speculation have declined somewhat.
view of tlie railroad question; and the bill just
passed in the The issues of bonds sold for investment, however,, generally hold
their own very well, and prices are, as a rule,
lower branch of the National Legislature to prohibit all
quite firm. It is a
freight
trite
pools or combinations, and otherwise to regulate the charges on is thefact, but worthy of notice, that the railroad mortgage bond
only sort of security dealt in at the Stock Exchange which
railroad transportation, presents another view of the same sub
has a specified lien on any piece of
property. United States
ject.
Government, State and city bonds depend for their value upon
the good faith and solvency of the parties
Our local money market has ruled
issuing them, and the
very easy at 2}@4per cent
stocks of banks, railroads, and other
for call loans, and 4 to 5} per cent for prime commercial
corporations, are all liable to
paper.
become valueless by the mismanagement of
directors, or by the
The Bank of England statement on Thursday showed a con¬
incurring of debt obligations which take precedence of the stocks.
siderable loss of bullion for the week, amounting to £369,
Messrs. A. H. Muller & Son sold the following at auction :
COO^
and the percentage of reserve to liabilities was reduced to 31
Shares.
I
§
Shares.
300 Brooklyn City RR
\.172
| 50 Nassau Bank
80*4
per cent, against 40£ per cent the previous week; the discount
2 Clinton Hall'Asso
46
Bonds.
rate was left unchanged at 5
1,500 Cent. Pet. Co., N. Y., for $5
per cent. The Bank of France lost
| $2,000 St. Charles Bridge Co. 84
25 N. Y. Mut. G’light. Co.. 56% I
10,000 Clue. & Alton RR. 6
4,800,000 francs in specie, and exchange was in favor of gold
100 Pliil. & Reading RR... 23*2
p. c. gold sinking fund
99
60
166% I 8,000 Receivers’ certificates
Rutgers Fire Iiis
shipments from Paris to London.
22 Star Fire Ins
105*2 I
N. Y. A Oswego Mid. ltU.,
The last statement of the New York
14 Meeli. & Trad. Fire Ins. 178% I
City Clearing-House hanks,
all unpaid, coupon on
20
issued December 7, showed a decrease of $4,177,750 in the excess
Closing prices ot leading State and Railroad Bonds for two
above their 25 per cent legal reserve, the whole of such excess weeks past, and the range since Jan. 1, 1878, have been as fol¬
lows:
being $S,3G6,050, against $12,543,800 the previous week.
?
Range since Jau. 1, 1878.
The following table shows the changes from the
Dec.
Dec.
previous week j
States.
6.
-13.
Lowest.
and a comparison with the two preceding years.
Highest.
are

...

1878.
Doc. 7.

•

Loans and dis.

Specie
Circulation
Net deposits

..

.

Legal tenders.

$239,815,500

Differ’nces fr’m
previous week.
Inc

1877.
Dec. 8.

1876.
Dec. 9.

.$3,377,100 $238,578,200 $256,681,000

20,169,700 Doc. 2,797,700
20,058,200 luc.
51,200
207,058,600 Inc
261,400
39,961,000 Dec. 1,314,700
.

United States Bonds.—There

was

18,995,000

22,923,400

18,203,300

15,032,100
204,850,800

196,912,300

38,478,700
rather

36,373,900

dull business in

a

governments until yesterday, when a considerable demand set in
from insurance

companies and savings banks, apparently to put
their funds into these securities preparatory to Dec. 31, at which
date their annual statements

rendered to the

departments at
Albany. Subscriptions to the 4 per cent bonds keep up, and the
five-twenties of 18G5 are now nearly all called in.
The Treasury Department has issued the seventy-fourth call
for redemption of 5-20 bonds, dated Dec. 9, and the interest on said
bonds will therefore cease on March 9, 1879.
The description is
are

'

follows:
Coupon bonds, dated July 1, 1865, namely : $100, Nos. 146,001 to
147,000. both inclusive; $500, Nos. 104,001 to 105,000, both inclusive;
as

$1,000, Nos. 200.001 to 201,000, both inclusive.

$2,000,000.
Registered bonds

Total coupon bomls,

as follows: $100, Nos. 19,261 to 19,279, both inclu¬
sive; $500, Nos. 11,321 to 11,326, both inclusive; $1,000, Nos. 39,301
to 39,304, both inclusive; $5,000, Nos. 12,701 to
12,701, both inclu¬
sive; $10,000, Nos. 25,351 to 25,700, both inclusive. Total registered
$3,000,000. Aggregate, $5,000,000.

Closing prices of securities in London have been
Nov.
29.
U. 8. 6s, 5-20s, 1867
V. 8. 5s, 10-40s
5s of 1331
4%s of 1891

Dec.
6.

Dec.
13.

follows:

Range since Jan, 1, 1878.
Lowest.

Highest.

108 34

103% x05% 105% Jau. 2 109% Juno 8
10978 110
109% 104% Feb. 25 111% July 30
1083a 108 34 108% 1033s Mch. 1 109% July 9
106 34 106 34 106% 102% Feb. 25 107*4 July 30

Closing prices at the N. Y. Board have been




as

as

follows:

Louisiana consols.
Missouri 6s, ’89 or ’90
North Carolina 6s, old
Temiesseo 6s, old

7334

72%

*19%

19

*33%! *35

Virginia Os, consol

*73

do
do
2d series..
Dist. of Columbia, 3-05s

*72
41

*73*4

*79

Railroads.
Central of N. J. 1st consol

*83

*80

—

38%

Central Pacific 1st, 6s, gold.. *107% 103
Chic. Burl. & Q. consols 7s... *115% 11534
Chic. A Northwest. cp.,gold.x x02% 102%
Chic, M. A St. P. eons. s. f. 7s.. 100% 100%
Chic. R. I. A Pac. Gs, 1917... ’'ll 0%
Erie 1st, 7s, extended
*115
Lake S. A M. S. 1st cons., op.. *114*4 *112%
Michigan Central consol. 7s.. 11034 111
Morris & Essex 1st mort
*116% *116%
N. Y. Cent. & Hud. lst,cp.... 120% *121%
Ohio & Miss. cons. sink. fd.. *x01% 102*4
Pitts. Ft. Wayne A Chic. 1st.. *121% *121%
St. Louis A Iron Mt. 1st m— 109%
Union Pacific 1st, Gs, gold.... 108
103
do
sinking fund
103*8! 10334
'

_

*

This is the price hid;

6934 June

8

85

*106% *106 34 102% Aug. 23 103

no

sale

was

T

_

_

15
30
78
29

Mch. 29
Nov. 7
Nov. 29

74

20

Feb. 11
June22
Dec. 2

39% Mav 14

July 31

78
41

Nov. 29
Doc.
6

Apr. 12

85

June 10

64*4 Mch. 4 90
July 11
103% Jan. 15 108% June 28
109

Jan.

2 116

Dec.

3

9178.Jan. 14 106% Nov. 30
91% Jan.
5 10234 May 25
106
110
109

105*8
115%
117%

957e
113

Jan.
5 111
7 116*4
Jan.
Jau. 10 114
Jau.
5 115
Jan.
5 121
Sept. 10 122
Feb. 20 105
Feb.
8 122

Dec.

7

July 8
Sept. 26
Oct. 29
Oct.
8
June 26
Nov. 18
Oct, 18

102% Sept. 20 109% Dec. 6
103% Jau. 7 108% June 28
9238 Mch. 6| 105*4 July 9

made at the Board.

Railroad and Miscellaneous Stocks,—Tlie stock market
has moved without any extraordinary excitement, and prices in

instances have shown a tendency toward lower figures. The
coal stocks have declined in consequence of the prospect that no
combination may be made for 1879, and Morris & Essex, leased to
Delaware Lackawanna A Western, has been one of the weak
some

stocks.

Chicago Burlington & Quincy sold down to 105.} this

afternoon, as it is reported that the company intend to issue 10
per cent new stock, which the present shareholders are to have
the privilege of buying at par.
The proceeds of sale of the new
stock are to be devoted to tlio construction and equipment of
seventy-five miles of new road in Iowa.
Western Union Telegraph has declared the usual 1} per cent
quarterly dividend, and nothing was said or done about a stock
distribution.
Under these adverse circumstances bearing upon
particular stocks, the general market closes with a slightly

weaker tone.
The daily highest

and lowest prices have been

as

follows:

622

THE CHRONICLE
Saturday,

Monday,

Dec. 7.

Cen ral of N.J.

27%! 2m
Ilf
ilGK 110^8
35^8 3ok 34 %
7m 72%
47%; 45%

Chic Burl.& 6.
C. Mil
il.&St.P.
.

do

pref.

Chic. & North.
do
C. II. I. &

pref.

Pac..!ll8

Del.* H,Canal

34

Del.Ia«c.&W
Erie, $4 paid..

42

Han. <x St. Jo..
do
pref.
Illinois Cent...
Lake Shore

.

pref.

These

are

|

i?s

137%

.

! 28%
110% 109
35^] 35%
7 3% | 73%
28

14

35

47%' 47

772% 73%

72

13

73%

47%> 47
47% 403% 47%
77
77%! 77% 77% 7W 77%
113%: 118% 118%! 11* 118% 117% 118
35^1 36
3S%! 37
37% 37
42^! 42% 43%! 42% 43% 42% 37%
42%
18% 17% 18%' 17% 13% 17% 17%
14
14
14
14
14% 14%
) 13%
35
34% 31%I 34% 35
35% 36%
77% 77% 7 7% l *77
77
77
69%; 6844 69
6<% 68% 68% 08%
68% 08% 63% 01% 63% 67% 68%
78
77%! 77
x74% “0% 73% 74%
112%! *12% 112% 112 « 112* 112% 112%
7%i 7%
7%
7%
7% *7%
7%
13%! 13% 13%
13% 13% 13%
12 < 1*120

7,%'

13

122

122
20% 22

66

"12%

13

*12

14

•

••

f&lows:

-Latest earnings reported.—, ^ Jan. 1 to
latest date.1878.
1877.
1878.
1877.
S.E.(St.L.)3d wk Nov.
15,651
15,500
586,669
556,740
do
*
(ICcn.). 3d wkNov.
8,215
6,688
320,996
294,511
do
(Tenn,). 3d wkNov.
3,664
2,854
152,751
136.486
St. Paul A S. City.October...
66,715
81,680
497,031
430,912
Scioto Valley
October...
28,983
13,416
232,707
Sioux City A St. P.October
45,501
59,064
311,649
259,890
Southern Minn...October...
44,430
110,614
535,305
536,233
Tol. Peoria A War.November.
90,145
90,086 1,155,915 1,015,980
Union Pacific
November.1,084,324 1,022,354 11,718,738 11,549,295
Wabash
1st wk Dee
87,622
80,086

WeekorMo.

St. L. A

...

4,751,180

Silver._Gold lias sold at 100£@1C0£, and closes at
100£. On gold loans the rates this morning were 2(3)1
per cent,
and this afternoon cash
gold commanded 1-G4 tier day for use.
Silver in London is quoted at
The range of gold, and
follows:

93% 93%

106

47%

Open

47

98% 9"%

*12
*33

Jan. 1,

Week.

13

Dec.

j Low.

7.. 100% 100% 100% 100%
9.. 100% 100% 100% 100%

“

“

10..
11..
12..
13..

“

in prices since Jan. 1,1S?8;

“
“

Shares.
Central of N. J
Chic. Burl.A Quincy.
Chic. Mil. ASt. P
do
do pref.

Chicago & Northw...

Lowest.

15,189
4,480

47,040
29,955
112,870

do
do pref.
40,710
Chic. Rock Isl. A Pac.
2,440
Del. A Hudson Canal
14,464
Del. Lack. A Western 251,110
Erie
8,135
Hannibal & St. Jo.
1,160
do
do pref.
3,700
niinois Central
4,025
Lake Shore
83,145
..

Michigan Central....

Morris & Essex
N. Y. Cent. A Hud. R.
Ohio & Mississippi...
Pacific Mail
Panama
Wabash
Union Pacific..*.
Western Union Tel...
Adams Express

10,845

25,583
17,900
75,980
92
95
75
105
200

Quicksilver

pref

Total sale3 of the week in
St.
Paul.

Dec.
“
“
“
“
“

7

9....
10....
11

....

12....
13....

Low. High.

13% Jan. 2 45% July 11
99% Feb. 28 1143* July 15
27% Sept. 2 54% July 8
64
Oct. 14 843* July 9
32% Aug. 10 55% Apr. 17
593* Feb. 9 79% July 11
983s Jan. 15 119% June 7
34% Dec. 9 59% July 10
4130 Dec. 9 61% July 10
51 20% Nov. 2
75s Jan
10
Feb. 28
16% Nov. 13
2150 Feb. 28 41% Nov. 11
7230 Feb. 14 87
July 11
55% June 29 70% Oct. 29
58% Jan. 3 72% Apr. 18
,

12% Dec.

7 23% Jan.
Jan.
5 131
Feb.
12% June 20 23% Nov.
61% July 31 73
Mch.
75% Feb. 13 102
Oct.
98
Jan.
8 109% Oct,
46
Aug. 2 52% May
44
Aug. 7 513* Feb.
82% Jan. 7 99% Nov.
9% Nov. 11 193i Feb.
293* Feb. 5 37
June

290 112

United States Exp...
Wells, Fargo A Co...

■'

Highest.

9,629
58,821
6730 Feb. 28 89
June 10
2,738 1033* Feb.11 115
Sept. 5
4,450
6 34 June 29
11% Apr. 15

American Express..

do

Whole year
1877.

1878, to date.

leading stocks

St. Paul

North-

pref.

west,

7.600

3,175

7,350
5,110
5,500
10,200
11,220

2,785
4,310
5,210
6,000
8,475

were as

16
25
11

6
94
11

37%
118%
42%
40% 73%
15

43%

37% 69%
82% 105%
25% 74%

30%
4%

77
15

7
17

15%

40%

80

20

59%
56
91

8
25
8
25
15

26%
130

31

25

33%
79

45
7330
35% 74%
51% 92%
85% 109%
2% 1130

12%

100%100%
100% 100)0
100% 100%
100% 100%

100%
100%
100%
100%

73

84%

36
81
13

60%
59%
90

19%

The

following

Sovereigns

24
45

are

@$4 87

3 83 @3 86
4 74 @ 4 78
X Guilders
3 90 @ 4 00
Span’ll D011 bloons.15 70 'a) 16 10
Mex. Doubloons.. 15 50 @15 65
Fine silver bars
109%@
110
Fine gold bars
par.@%prem
X X Reielimarks.

..

28,lOOj

Del. L.
A

8,200

18,395
13,295

6,125
5,700

25,020, 10,130

12,500
15,560'

3,480
7,075

f West,

Lake

West.|Un. Tel.

73,860|

9.600

50,1851 16,100
27,265! 18,410
45,960 16,310
28,420 10.120

19,420j

5,440

Shore.

20,110
15,320
27,710
7,405
6,900

5,700

Total.
47.0401 29,955 112,870'
Whole stock. 154.0421122.794 149.888 40,710 251,llo! 75,980 83,145
215,256 524,000 350,685 494,665

715,887
724,134

1,116,500
875,000
831,800

1,119,824

$930,000

$933,663

877,003
834,633

$42,966,000
118,192,000

Dimes & % dimes.
Silver %s and %s.
Five francs
Mexican dollars..

English silver

....

Prus. silv. thalers.
Trade dollars
New silver dollars

Exchange.—Foreign bills have

coins:

98%@

—

—

—

99
93

@

@

85%@

—

4 75
68

@
@

—

—

—

—

98%

—

99%

—

94%

87
4 80
—
70
—

98%@

—

98%

99 %@

—

par.

been firmer, and drawers

have advanced during the week
fully 1 point, the rates on actual
business to-day being about 4'82£ on 60
days’ sterling bills and
4*87 for demand.
In domestic bills the
following were rates on New York at the

undermentioned cities to-day:

Savannah, buying £ offered, sell¬
Charleston weak, buying | discount, selling par@| pre¬
mium; New Orleans, commercial, 5-16; bank,
St. Louis, par;
Chicago firm, buying 1-10 discount, selling 1-10 premium; and
Boston, par@12£c. premium.
Quotations for foreign exchange are as follows:
ing

par;

Dec. 13.

60

Prime bankers’ sterling bills on London.
Good bankers’ and prime commercial...
Good commercial

Documentary commercial

Swiss (francs)
Amsterdam (guilders)

banks for

4.87%@4 88,

4.87

4.81

4.85%@4.86^

@4.82

5.23% @5.21%

BankR,—The following

a

days.

4.82%@4.823*

(reichmarks)

Boston

3

4.823*34.83%

Hamburg (reichmarks)
Frankfort (reielimarks)
Bremen (reichmarks)

Berlin

days.

4.80%@4.81%
5.23%@5.21%
5.23%@5.21%

Paris (francs)

follows:

Currency*

714,000
736,000

quotations in gold for various

$4 83

Napoleons

Gold.

6,340,000
6,698,000
7,163,000
5,188,000
8,564,000

Antwerp (francs)

[N’rtliw.
j pref.

as

$9,013,000 $1,576,600 $1,581,515

100%
100%
100%
100%

This week 100%'100% 100% 100%
Prev. w’k 100% 100% 100% 100%
S’ce Jan. 1 102% 100% 102% 100%

105

43%

were

Balances.

Gold

Clearings.

High Clos.

1

Sales of

50^@50^d. per oz.
clearings and balances,

Quotations.

10H

*47i%
*46

4.290,102

Gold and

65%

! *32%
*32% 34% 1*32%
35
*32%
the prices bid ana asked; no sale was
made at the Board.

Total sales this week and the
range

were as

29% 28% 29% 28% 29
109% 109 109% 105% 103%
35% 34% 35% 33% 34%

I07Mi*W?

.

*

27

stay, iWedn’ed’y, Thursday,! Friday,
TO. i Dec. 11.
Dec. 12. | Dec. 13.

34%
77%: 77% 78!-4
69% 6S% mi
69
| '68% 6914 *38%
78 ! 74% 76%
7-H
112%i112% 112% 112%
7%
7%
7%
13 5* 12% 13%
i*2%;*igi 123
122
'120
22% 22% 23% 22% 23%' 21% 23
21% 22%
6(h*I 65% 66
65% 66%| 65% 66% 65% 66%
95% 94% 94% 93% 94%l 94
94%
107
*106
107
L07
106% 106%
50
49% | 50
xl8
*49% 50
48
47% 48
47% i*47
*47
*47% 48
47
47% 47
99
1'93
99* 99
99
*98
98%
98%
98%
12
*11

Michigan Cent

do

!

110% 10i%
35%! 35
72% 73
4«%' 46%
7714! 76^ 76M1
7t%
11?% 118 118% 11
35 1 34% 35%
35%
44%! 41% 43% 42
18%! 18%
1B%
14

Morris A Essex
N.Y.C. A H. K.
Ohio A Miss...
Pacific Mall....
Panama
Wabash
Union Pacific..
West. Un. Tei
Adams Exp....
American Ex..
United States

Wells, Fargo..
Quicksilver....

Dec

27

34%; 34%

...

....

Dec. 9.

[VOL. XXVII.

are

39%@

40

94%@
94%@
94%@
94%@

94%

4.85

@4.87^
@4.860

5.20%@5.18^

5.20%@5.18^
5.20%@5.18%
40%@ 40*4

94%
94%
94%

95
95
95
95

95%
95%
95%
95%

@
@
@
@

the totals of the Boston

aeries of weeks past:

..

The total number of shares of stock
last line for the purpose of

outstanding is given in the

comparison.

The latest railroad
earnings and the totals from Jan. 1 to latest
dates are given below.
The statement includes the
gross earn¬
ings of all railroads from which returns can be obtained.
The
columns under the
heading “Jan. 1 to latest date” furnish the
gross earnings from Jan. 1 to, and
including, the period men¬
tioned in the second column.
Latest earnings reported.
1878.
■
1877.

EARNTNGS.
Week or Mo.
Atch. Top. & 8. F.4th wkNov
Atl & Gf. West...October
Atlantic Miss. A O.October
Bur. C. Rap. & N.4th wkNov
Cairo & St. Louis.November.

$89,500

Jan.l to latest date.-s
1878.
1877.

$69,204 $3,605,819 $2,432,327
424,076
193,686 1,399,324 1,452,592
37,753 1,402,991 1,120,327
18,292
16,267
201,674
216,166
Central Pacific...November.
1,513,000 1,855,774 16,314,363 15,696,093
Chicago A Alton.. 1st wk Dec 102,346
73,679 4,447,779 4,221,223
Chic. Burl. & Q...October.
.1,368,348 1,290,114 11,746,897 10,285,021
Chic. & East.
...

..

III..4th wkNov
Chic. Mil. & 8t. P. 1st wk Dec

387,497
201,181
40,227

17,243

12,492

185,000
149,325 7,920,072 7,59L298
*Chic.&Nortkw.Ac.Novem ...1,403,728 1,236.412 13,407,696
11,786,672
Clev. Mt. V. A D..November.

Dakota Southern.October...
Denv, A Rio G...November.

36,183

21,029

117,363

36,008
32,468

80,083

Dubuque A S.City.November.
82,952
84,081
Erie
August... .1,445,929 1,271,131
Grand Rap. A
Ind.September
99,637
97,723

Gal. H. A8.

Ant..September

Grand Trunk.Wk.enu.Nov.30
Gr’t Western. Wk.end.Nov.29
Houst. A Tex. C..October
Ill. Cent. (Ill.line).November.
...

ao
Iowa lines.November.
Indianap. Bl. AW.Novembcr.
Int. A Gt. North..November.

Kansas Pacific.. .1st wk Dec
Mo. Kans. A Tex .1st wk Dec
Nashv. Ch.A St.L.October
Pad. A Elizabetht.November.
...

Pad. A Memphis..2d wk Nov.
Phila. A Erie
October...
Phila. A Reading.October
...

St.L.A.AT.H. (brs)November.

St. L. Iron Mt. A 8.1 st wk Dec
St. L. K. C. A No.. 1st wk
Dec
*

132,148
177,053
68,933

426,832
483,948
125,365
96,172

234,023
77,492

60,024
137,104

27,309
4,647
352
695
352,695

1,408^674

51,270
131,800
70,727

99,480
202,509
91,739
361,649
474,012
144,880

80,815
184,963
74,442
56,483
172,353
32,836
4,094
393,151
1,527,774
47,063
129.088

66,312

351,877
176,548
1,032,945
867,811
9,735,284
877,729
861,141
8,218,701

4,089,078
4,934,305
1,350,764
1,161,836

1,403,389
3,523,611
2.799.134

1.325.135

700,239

846,018
9,322,200
793,065
688,284
8,639,913
4,062,395

4,814,922
1,378,440
1,116,546
1,363,906
3.110,884

2,974,782
1,427,414

158,120

159,897

2,378,585

2,561,804

10’249i094

1L951L227

454,044

476,558
4,103,206

4,176,215
3,109,031

These figures in the last two columns do
not embrace the
Roads for the period prior to June
1.




356,725
167,050

2.958,041

Proprietary

1878.

t

July 8.
July 15.
July 22.

129,849,000
130,700,900
131,136,200
July 29. 130,653,600
Aug. 5.. 131,387,300
Aug. 12. 131,816.000
Aug. 19. 131,972,900
Aug. 26. 131,615,700
Sept. 2. 132,125,900
Sept. 9. 131,595,! 00
Sept. 16. 130,741,00)
Sept. 23
131,144,300
Sept. 3). lo0.?59,400
Oct.
7. 130,104,400 *
Oct. 14.
128,971,100
Oct. 21.
127,418.100
Oct. 28.
126,876,100
Nov. 4.
126,825,200
Nov. 11. 126,512,400
Nov. 18. 127,202,900
Nov. 25. 126,472,600

Dec.
Dec.

2. -126,898, t00
9.
127,376,300

S

1

2,451,900
3,488,000
3,373,400
3,011,200
2,914,200
3,003.300

5.917,800

2,838,800
2,768.100
2,731,600

3,010,000
3,022,600
3,022,100
3,047,600
S, 321,200
2.963,100
2,563,800
2,557,600
2,*88.000
2,9 0,800
3,135,000
2.933,000
2,862,400
2,779,900

5,466,400
5,282,600
5,511,900
5,898,100
5,846.800
5,626,40)

5,627,300
5,302,300
5,613,700
5,548,200
5,654,900
6,086,900
6,135,100
6,020,000
6,127,800
6,524,300
7.234,609
7,787,500

8,060,800
8,228,: 00
8,655,500
8,112,900

$
53,252,000
52,285,800

52,095,600
51,569,400
51,906,700
51,490,700
50,948,100
51,369,100
51,904,500

52,390,800
52,090.700
53,081,700
53,434,200

53,233,500
53,866,100

Loans.
8

July

8.

July 15.

July
July
Aug.
Aug.

57.417,5^1
57,540,336

2>.
29.

57,701,352
57,582,408

5.
12.
Aug. 19.
Aug. 23.
Sept. 2.
Sept. 9
Sept 16.
Sept. 23.

57,836.072
57,334,189
57,506,545

.

Sept. 30.
Oct.
Oct.
Oct.
Oct.
Nov.
Nov.
Nov.
Nov.
Dec.
Dec.

7.
14.
21.
28
4.
.

11.
18.
25.
2.
9.

57,450,042
57,515,21?
58,189,844
58,397,686
56,300,720
58,207,884
58,613,739
58,650.640
53,801,493
59,522,350
59,4D.2l4
58,270,111
57,656,695
57.344,121
57,461,311
5*,714,763

25.339,200
25.297.600
25,045,500

25.143.900
2'>,083,200
25.128.600
25,0 0,400
25,008,200
26,231,000
25.441.100
25.466.100
25,421,7 00
25,50^,500
25,407,300
25.473.100
25.388,000
25.429.400

51,573.489
47,130,751
43,821,118
31,441,879
37.181,493
35,455,252
35,748.086
33,442,865
31,659,013
38,080,092
38,484,171
42,643,331
38,344,352

52,240,200
53,263,400
54,956,500 25,460,700
56,258,400 25,4^8,700
55,244,900 25.450.900
55,713,600 25.311.400

56,036,900

46,164,103

52,264,600

follows:

1879.

25.361.400

49,237,921
47,046,050
45,5*7,518
41,489,955
44,823,641
45,810,772
47,970,092
44,426.281
36,257,603

Philadelphia Banka.—The totals of the
are as

Circulation. Agg Clear
S
$

25,400,000

Philadelphia banks

Specie. L. Tenders. Deposits. Circulation. Agg. Clear.
$

$

$

2,165,605
2,131,277
2,088,968
2,122,939

13,617,763
13,600,496

2,28^,960
2.342,437

13,729,614
13,434,151

45,931,792
46,419,105
46,082,238
46,127,426
46,502.675
45,561,288
45,757,350
45,497,226
45,806,145
45,504.418
45,515,333
45,335,119
45,e55,0C8

13,413,067
13.750,039

2,236.021 13,610,305
2,183,120 13,452,892
2,172,809 13,547,324
2,166,35!) 13,302,270
2,109,431 1^,812.555
2,0''3,043 13,004,807
1,995,8 )6 12,814,627
1,9S9,310 12.717,102
1,83 ,451 12,382,599
1,605,812 12.0:5,596
1,646.613 11,958,391
1,693.177 12,575,827
1,874.226 12,334,845
1,379,359 12, r06,345
1,9)2,867 12.618.399
1,946,959 13,022,453
1.996.059

12.740.471

45,570,445
45,122.706

$
11,055.863

11,075,562
11,118,080
11,133,381
11,136.613

11,158,5*3
11,164,372

11,150,955
11,191,223
11,134,010

11,190,001
11,215,351

$

a3,320,691
32,262,571
30,692,010
21,830,509
29,494,321
26,839,131
'27,006,463
23,731,264
24,754,735
28,719,074
29,532,427
31,483,017

11,243,085

28,822,304

11,266,957

37.391,136

11,307,582

32,798.588

44,786,291 11,353,450
44,252.796 11,394,811
4»,671,294 11,396,121
44,109,434 11,430,703
44,436,416 11,3 3,116
44,112,838 11,393,361
45,144,517 11,395,817

33,710,726

44.816.112

11.386.822

29,0 ;9,290
29.104.649

29.370,449
27.805,472

31,023,406
Ol 1 or.

December 14, 1

THE CHRONICLE

78.]

on

Dec. 7, 1878

AVERAGE AMOUNT

Banks.

Capital.

Loans and
Discounts.

$
New York
2, OOD, 0:0
Manhattan Co.... 2/ 50,000
Mechanics’
2,000,003
Merchants’
2,000.000
Union
1,200,000
America
3,000,000
Phoenix
1,010,000

City

1,0C0.00)

Tradesmen’s
Fulton
Chemical...
Merchants’Exch.
Gallatin National
Butchers’&Drov.
Mechanics’&Tr.
Greenwich
Leather Mauf’rs.
Seventh Ward..
State of N. York.

1/00,050
6 0,000

300,000

1,000,000
1,500,0.30
300.000
600,003
203,000

600,000
300,000
800,000

American Exhn’e

5,000,000
5,000,000

Commerce

Broadway

1,000,000
1,000,000
422,700
1,500,000

Mercantile
Pacific

Republic
Chatham

450,000
412,500
7CO,000

People’s
North America..

Hanover

1/00,000

Irving.

Metropolitan.

500,000
..

3,000,000

.

Citizens’
Nassau

600,000
1,030,000

Market
;
St. Nicholas

1,000,000
1,000,0^0

Shoe and Leather 1,000/03

Com Exchange
Continental
Oriental
Marine

1,000,000

.

1,250,000
300,000
403,000

Importers’&Trad 1,500,000
Park
2,000,000
Mech. Bkg. Ass’n
500,000

Grocers’
300,000
North River
240,000
East River
250,000
Manuf’rs’ A Mer.
100,000
Fourth National. 3.590,000
Central National. 2,000,000
Second National.
300/00
Ninth National..
750,COO
First National...
500,000
Third National..
986,300
N. Y. Nat. Exch.
300,000
.

...

Bowery National

250,000
2 0,COO

New York County
German Americ’n
Chase National..

750,000

300,000

$
7, *218,800

$

1,785,600

$
531,800

5,729.10)
764,500
539,700
702,100
6/79,500
680,400
603 900
670/00
6,212,300
345,(00
3,914,300
254/00
8,218,S03 1,188,40) 1,066,200
245,000
2,375,000
174,000
5,479,100 1,173,400 2,673,000
2,970/00
192,2)0
259,400
153,600
*97,6)0
1,498.900
073,300
9,907,100
755,900
203,300
536,300
246,500
516,400
3.460.900
1,154/00
105,000
130,000
197.000
1,351,000
22,0)0
9,400
761.900
144/00
362/00
2,405/00
241,80)
192 600
916.900
53,500
396,700
2,131,000
381,900
984,000
11/41,000 1.297,009
14.977.600 1,836,200 2,0 (9,409
263,000
4.603.200
300,800
242,6C0
2.981.900
457,500
35,100
389,900
2,033,100
181,400
8.151.200
680,100
18,500
2.741.700
792,300
15,600
1.335.509
102,00)
1.621.700
91,000
422,00)
161,400 1,115,800
5.417.900
1,886,300
44,900
363,700
12,449,009
769,000 1,604,000
363,300
92,500
1.562.600
1.958.200
38,900
237.600
40,700
2,441,909
572.600
41,800
1.863.200
141,700
257,600
3,505,000
407,100
95,100
301/00
3.248.700
4,487 600
897,7) 0
87,890
27,300
1,278,500
1)1,00)
18 2,C00
2,383,000
456,00)
15,050.9# 1,514,700 3.835.100
10,162,600
349,700 2,914,800
580. G0C
81,000
30,000
loo.yoo
493,700
1,800
39,200
789,800
129,200
40,500
56,000
695,300
362.900
2,900
87,9)0
14,516,000 1,225.100 2.113.400
174,000 1,6)9,000
7,541,000
454,000
1,933,000
3.5 3,900
114*, 900 524,600
654,500 1.527.400
7,800 500
678,809 1,154,500
6,075,500
38,300
124.400
1.122.509
2 0,000
1,121,000
13,000
260.900
1,090,100
150,20)
•2,1 2.100
300.400
156,400
1,767,400
306,3)0

Net

Deposits.

£

44,000
7,500

87,300
165,5)0
135/0)
1,100
217,000

741,0 :o

1,130,130
9,517,600

2.385.300

593,0f0

1.751.300

446.800

875 COO

264,000
198,000
2,700
303,500

670,000

717,100
1,965,000
8:7,809
28,909
45,000
2,444/00
8,005/00
185.000
9.317.300 l.?i7/0 3
2,849,10)
898,600
2.603.300
179,700
1.913.200
2,052,300
450,000
2.649.800
402,70)
1,070,000
5,400
1.763.200
5.170.0C0
443,9)6
1.710.900
146,600
8,985,000 2,224,0(10
1.779.900
247,200
1.748.800
3,900
274 20)
1,827.500
628,700

582,400
675,509
4,700

2,500,000
1.944.300

3.831.200
767,500
1/83,900
2.311,000
358,400
16.534.500 1,101.900
537.900
12,204,2)0
420,000
296,000
407.200
612.200

474,200
123,700
391.500
12,SO 1,200 1/52,40
7,166,000 1,490,000
1/82,000
259,000
3,026,000
597,400
8,909,000
45.0C0
799,000
6,363,100
707.500
269,300
791,003
224,100
1,031,700
180,000
1.984.500
221,900
1.715.300

Specie
Legal tenders

Net deposits
Circulation

..

Inc..

$261,400

..Inc.,

51,290

1878.

S

$

July 27. 233,636/00
Aug. 3. 238,096,200
Aug. 10. 240,220, IOC
Aug. 17. 235.555.400
Aug. 24. 2)6,994,300
Aug. 31. 239,431.709
Sept. 7. 243.432.900
Sept. 14. 244.215.100
Sept. 21. 245.377.400
Sept. 23. 246.322.500
Oc:. 5. 247.881.900
Oct. 12. 2 8,634,300
Oct. 19. 246.593.100
Oct. 26. 245.108.400
Nov. 2. 244,511,800
Nov. 9. 240,224,200
Nor. 16. 237.615.500
Nov. 23. 234.917,700
Nov. 30. 236.433.400
Dec. 7. 239.815.500

$

19,695/00 58,409,600
17,99\800 58.610.100
20.407.600 56.266.500

$
222.133.700

219,978,500
223.432.700
19.234.800 55.479.400 217.884.700
18.662.800 55,059,800 216,088,500
17.000,300 53.948.500 216.164.100
16.953.100 50/83,500 216.711,200

18.554.700
18.322.800
18.199.600
17.599.700
13.991.100
15.547.800
19,860,500
24.144.100
26,373,200
25.405.400
23.414.400
22,9)7,400
20,169/00

48.891.200
48.538.400
45,680,700
43.362.200
42/50,800
40.729.100
39.962.500
40,219,000
39.155.400
39.933.200
40.588.200
41,275,70-)
39,961,000

*

S

19,078,COO
19,273/00

353,322,472
4 4,! 40,015

19,189,800

355,692,070

19.325.600

342,277,469
19.305.600 330,5)7,433
19.438.700 285,763/11.
19,062,300 348,022.456
218,26),000 19.478.300 330,877,791
217,304,000 19/16,300 333,606,566
216,332,000 19/17,800 370,111,767
214.103.400 19,577,500 453/71,364
210,041.200 19,593,100 424,149,9C0
209.144.600 19,601,200 482,291,920

211,093,700

19.389.700 392,878,293

215.413.400
210.737.600

19.904.300 488,571,553
19.905.400 408,903,425
19.909.400 460,572.737
19,931,900 404,037.742
20,007,000 368,2 8,659

209.752.100
2i)7,13i,800
206,797,*<00
207,058,600 20/53,200

436/95,221

Note.—The figures of the Chase Nxtional Bank are not included in the
above totals prior to October 26.

...

do
do

6s, 15-25, reg., l882-’92.

111

Bid- Ask.

SECURITIES.

Hartford & Erie 7*, new

BOSTON.
New Hampshire 6s
Vermont os
Massachusetts 5s, gold
Boston 6s, currency
do
58, gold

Chicago

sewerage

iio*
..

....

7s

Municipals
Portland6s
Atch. & Tcpcka lat m.7s

li6%
....

STOCKS.

Atchi-on
Boston &
Boston A
Boston &

land grant 7s 107%
2d 7s
land lnc. 3s..
108

do
6s
103
Boston & Lowell 7s.....
Bos’on & Lowel! 6s
Boston * Maine 7s
Boston ft Providence 7*
Burl, ft Mo., land errant 7s
lib
do
Neb. 6s
do
Neb. 8s, 1383
113
Conn. & Passumpslc, If, 189L -.!’
72
Eastern, Mass., 3hs, new.

Cheshire

1C2%
....

72%

i

A Clev

7s. Inc

;

1

103%
103

843*

no
103
111

no

48

49

33*
75
139

12%
115

J 131
8 814

!£%n. City Top. ft W., 7s, 1st




,

84

129!* 1*9*
5636 58

preferred

Cm. SanduBky
Concord

*7s

do

Lowel1
Maine

Chic. Clinton Dub. A Min...,

...

do

Topeka
Albany.

•

....

...

&

i

...

.

do

29%

10 0%

....

io:%

il8%

*

Ask.

do
6b
Omaha ft S. Western, 8a
1133*
Pueblo * Ark. Valley, 7b
100
Rutland 8s, 1st mort
65
Vermont & Canada, new 8s..
Vermont & Mass. UR., 6s

iio%
....

...

29>6

)gdensburg ft Lake Ch. Ss...
Colony, 7b

Old

...

do

do
do
do

Bid.

SECURITIES.

;! 95

28%

10334
111%
3%

12%

ii«
88%

29%

do

6st In. Plane, reg.,1879

Philadelphia, 5a reg
do
6s, old, reg
do 6s, n., rg., prior to’95
do 68, n.,rg.,1895* over il.;%
Allegheny County 5s, coup
Allegheny City 7s, reg ....
*00
Pittsburg 4s, coup., 1913—
do
5s, reg. A cp., 1913. 83
do
6s, gold, reg
do
7s, w’t’r ln,rg.*cr>. 103%
80
no 7s, itr.imp.. reg.,’33-36*
N. Jersey 6s, reg. and coup...
do
exempt, rg. & coup.
Camden County 6s, coup
Camden City 6s, coupon,.....
do
7s, reg. * coup
Delaware 6s, coupon
Harrisburg City 6s, coupon..
..

*

*

90

B.,’96.

Chcsap. * Dela 1st 6s, rg.,’86
Delaware Division 6s, cp.,’78.

115

115% Lehigh Navlga.
•

•

•

•

.

m., 6a, reg.,’84 105
do
mort. RR., rg.,’9T
do m. cocv. g., reg.,’9)
do mort. gold,’97...
94
do cons. in.7s, rg.,191
Morris, boat loan, reg., 1885.
65
chuylk. Nav.lst rn.6s.rg ,’97 80
do
2d m. 6s, reg., 190
45
do 6s, boatftcar.rg.,1913
do 7s, boatftcar.rg.,19 5
Susquehanna 6s, coup.. .9.8 .* 25

*

•

i

a •

94%
00

f ennsylvania 6s, coup., ’.910.

10'j
•

105

106

W

#

....

...

*

6s P.

CANAL BONDS.

....

•

06

88%
53
60

...

....

BALTIMORE.

103%

RAILROAD STOCKS.

32

do
pref
do
new pref—
Delaware * Bound Brook....
East Pennsylvania
Elmira A Williamsport
do
do
pref..
Har. P. Mt. Joy & Lancaster.

Huntingdon* Broad Top...
do
do pref.
Lehigh Valley...
Little Schuylkill
lilnehlll

34

"32

33%

....

*

*

22

*">

Norristown
Northern Pacific, pref
North Pennsylvania

do

,m

34
42

3%

31%
43

Balt, ft Ohio
100 90% 90%
do
Wash. Branch. 100 125
140

30

Delaware Division

14%

Lehigh Navigation

RAILROAD

2

5

13% 14
5
25

15

Morns
do
pref

Susquehanna
Allegheny Vai.,7 3-10s,1395...
do
7s, E. ext., 1910
do
Inc. 7s, end.. ’94
Belvldere Dela. 1st m.,6s,1902.

110
88
23

Plttab.ft Connellgv.4B,’98,JftJ
Northern Central 6s. ’85, J&J

63,1900, A.&O.

do «a, gld, 1900, J.ft J.
Cen. Ohio 6a, 1st m.,’90,M.ft S.
W. Md. 6s, 1st m., gr.,’90,J.ftJ.
do
1st m., 1890, J. & J...
do
2dm.,guar., J.ft J....
do
2d m., pref
do 2d m.,gr. by W.Co. J & J
do 6s. 3d m.. guar., J.ft J.
Mar. & Cln. 7s, ’92, F. ft A
do
2d, M. ft N
do
8s, 3d, J.ftJ
Union RR. 1st, guar., J. ft J.,
do
Can.on endorsed.

H03i»
25

102
do
2-1 ni. 6s. ’8>..
97
do
31 in. 6s,’37..
Camden &Amboy 6s,co;ip,’83 104
103
’104
do
63, coup.,’89
do
mort. 6s, *89
108%
Cam. A Atl. 1st m. 7s, g.t 1908
do
2d m.f 7s, cur., ’80
Cam. & Burlington Co. 6s,’97.
Catawissa 1st, 7s, conv., ’82...
do
chat, in., 103, ’88
107
do - new 7s 1900.
...

Connecting 6s, 1900-1904...
Delaware mort., 6s, various..
Del. A Bound Br., 1st,7s, 1905 99% 100
East Penn..1st mort. 7s,’88
E1.& W’msport, 1st m., 7s, ’60. 107
73
do
5s,perp
110
Harrisburg 1st mort. 63, *83.. 102
H. & B. T. 1st m. 7s, gold, *90
do
2d m. 7s, gold, ’95. 101
25
do
3d m. cons. 7s,’95*
Ithaca* Athens 1st g d, 7s.,’90
Junction 1st more. 6^, ’82
..

2d mort. 6s. 19)0

...

A Miss., 1st m., ?•>, g.#
110
Lehigh Valley, lst.Gs, cp., 1898
do
do reg., 1893... 110
do 2 1 m./s, reg., 1910. 115
97
do
con. m.,6s,rg.,1923
6s,-p.,19.3
Little Schuylkill, 1st m. 7s.V2
North. Penn. 1st m. 6s, cp., 85.
do
2d in. 78,cp.,’96.
do gen. m. 7s, cp., 1903
do gen. m. 7s, reg., 190“)
Oil Creek 1st m. 7s, coup.,’8'.
rlttsb. Titusv. & B.f 7s, cp.,’96
do
scrip....
Pa.& N.Y.C. A RR. 7s,’96-1906.
Pennsylv., 1st m., 6s, cp., ’80..
do
gen. m. 6s, cp.. 1910.
do
een. m 6s, vg., 1910.
do
cons, in 6 -, rg., 1905
do

do
cons. m. 68. cp., 1905.
do
Navy Yard 6a, rg,’8l
Perklomen 1st m. 8s, coup.,’97
Phila.* Erie 1st m.6s, cp.,’8i.
do
2d m 7s, cp.,’88.
Phila. ft Read. 1st m.6s, ’43-’44,
d)
do
’48-.49.I
2d m.t 7s, 'p., £3
do
do
deben., cp., ’?&*'
do
do
cps. ofc.
do
scrip, 1832.
In. m. 7s, cp,1896
do
do cons. m. 7s, cp.,1911..
do cons. m. 7s, rg.,1911..
do eon3.m.6t*,g. 1.1911
do conv. 7s, 1893*
do
7s, coup, off,’93
do scrip, 18S2
Read.
C.& I. deb.7s,92
Phlla.ft
Tn da'anlt of Interest.

07

100

107%

101
95
100
108

105

95%
100%

113
105
112
75
110
112

101
108
70
104
111
82

82%

24

28
12

10%
104

MISCELLANEOUS.

Baltimore Gas certificates...

01

People’s Gas,...

11%

OS
13

CINCINNATI,
Cincinnati6s
98
t 97
do
7s
f 105 107
do
*
7-30s
108
t 106
do
South. RR. 7‘SOs.t 105% 105%
..

do

do

6s, gold.t

96
95
7s, lto 5yrs..T 100
7 ft 7*30s, long/ 104
do
Cln.ft Cov. Bridge st’le, pref.
75
Cln. Ham. ft D. 1st m. 7s, ’80.. 101
do
2dm. 7s,’85.. 97
Cln. Ham. ft Ind., 7s, guar.... 40
Hamilton Co., O., 6s. long..
ao

Cln. ft Indiana 1st m. 7s
do
2d m. 7s, ’17...
Colum. ft Xenia, 1st m. 7s, ’90
Dayton ft Mich. 1st m. 7s. ’81.
do
2d m. 7s, ’87.
do
3d m. 7s, ’83.

do
1st m., 1905
67
do
lstm.es, 1905 t30
Ind. Cln. * Laf. 1st m. 7s
do
(I.&C.) lstm.7s,’88 95
Little Miami 6s, ’83
98
Cln. Ham. ft Dayton stock...
15
Columbus ft Xenia stock
xlOl
.

do
8. p.c.
Little Miami stock

st’k.goar

96%
•

•

• •

102

108

ioi%
98
45

93

72
104
101
97
92
Dayton* West. 1stm.,’81...t 100

115% Dayton ft Michigan stock....
08
99

5

BONDS.

..,

pref...

23%

Balt. * Ohio 6s, 1880, J.ftJ.... 103
105
do
6s, 1885, A.ftO.
105% 107
N. W. Va. 8d m.,guar.,’85,J*J 109
105
do

20

Chesapeake & Delaware

*

Par.

...

CANAL STOCKS.

do

110%

BATLBOAD STOCKS.

....

West Chester consol, pref—
West Jersey

do
L. Sup.

xl06 1C0
xl07 111
xl06 111
x 97 110
xioe 108

xl06 108
xllO 111
109
112
111
114
112
115
6s,exempt,’9S,M.ftS
119
1900, J. * J
x 110
112
1902, J. * J
x 110

do
Norfolk water, 9s.

*•

*1

Pennsylvania
6
7
Philadelphia* Erie
n% 12
Pnlladelplila * Read ng
Philadelphia & Trenton
Phlla.Wilmlng. & Baltimore.
*4% 5
Pittsburg Titusv. & Buff
130
130
United N. J. Companies

•

...

49%
do
Parkersb’g Br..50
48
48%
Central..
...50
l<*>% 100% Northern
Western Maryland
.50
23% 25
Central Ohio
50
36% 37
31% 31% Pittsburg * Connellsvllle..50

Nesquehonlng Valley

do

68, exempt, 1887
do
6-*, 1890, quarterly..
do
3s, quarterly
Baltimore 63, iSSI. quarterly.
do
6s, :8S6, J.ftJ
do
6s, 189). quarterly...
do
68, park, 1890, Q.—M
do
6s, 1893, M.ft 8 .....
do

40

48%

Pennsylvania
Schuylkill Navigation

Maryland 6s, defense, J.& J..
ao

Camden * Atlantic
do
do
pref
Calawlssa

.

QUOTATIONS IN BOSTON, PHILADELPHIA AND OTHER CITIES.

Ask.

12%

RAILROAD BONDS.

The following are the totals for a series of weeks past:
Loans.
Specie. L. Tenders. Deposits. Circulation. Agg. Clear.

Bid

..

....

1,740,703

SECURITIES.

Phll.&R.c.&I deb. 7s. cps.off
do scrip, 1.-&2
do mort., 78, *892-3
53
53* Phila. Wllrn. & Balt. 6s, ’84
Old Colony
043* 94% Pltts.Cin.&St. L. 7s, cou.,l£Cv mi 96%
Portland Saco A Portsmouth 91
913* Shamokln V.& Pottsv.7s, 1901 97%
62
Pueolo A Ark-nsas
62
Steubenv. & Ind. 1st, 6s, 1834. 97
100
6%
Rutland, preferred
Stony Creek 1st in. 7s i9t)7...
111
Vermont A Massachusetts
Su ib. Usz. * W.,lst m. 5.3,’2L
iii3£
25
Worcester* Nashua
Sunbury & Erie lst m. 7s, ’97..
Unlon * Titusv. 1st m. 7s, ’90. 38
United N. J. cons. m. 6s, ’94..
PHILADELPHIA.
Warren & F. 1st m.7s, ’93
76
STATE AND CITY BONDS.
West Chester cons. 7s, ’91
114
Penna. 5s, g’d, int.f reg. or cp
West Jersey 6a, deb., coup.,’83 80
do
5s, cur., reg
do
1st m. 68, cp., ’96. 106
do
5s, new, reg., 1892-1992 iio
111
do
1st in. 7s,’99.
105% 106
do
6s, 10-15, reg., W7-*82. 104% 105
Western Penn. RR. 6s,cp.1899

12%

...

$

Etc.-Continued.

90
125

Ogdenso. & L. Champlain
do
pref..

7,316,500
4,239,700
5,829,300
4,630,400
2,701,100
6,611,300
1,970,000
6,198,40)

63,711,590 239,815,50) 20,169,700 39,961.000 207,053,690 20,058,200
The deviations from returns of previous week are as follows :
..Inc.. $3,377,100
Dec. 2,797,700
Dec. 1,314,7(0

Ask.

Northern of New Hampshire
Norwich A Worcester

Circula
tion.

Total

Loans

Bid.

SECURITIES.

:

OP

Legal

Specie. Tenders.

PHILADELPHIA,

BOSTON,

New York. City Banks,—The
following statement shows the
condition of the Associated Banks of New York City for the week

ending at the commencement of business

623

18
...

108

101%
98

93
00

97

100
20
30
W
X07

108

LOUISVILLE.

113%
luy

109
77

33%

113%
105
110

79
34

ii.3%

110%

101

100% 101%
103% iu4
104% 104%
04

...

110%

30

48%

49

97

98
08
88

97%
86
40
26

30

Louisville 7s
+
do
6s,’82 to ’87
+
do
t
6s,’97 to’92
do
water 6s,’87 to ’89 +
do
water stock 6s,’97.t
do
wharf 6s
t
do
spec’l tax6s of ’89. t
Loul vllle Water 6s, Co. 1907 i
Jeff. M.&l.lstm. (I&M) 7t»,’81t
do
2dm., 7s
1st m„ 7s, 1906....t
do
Loulsv. C .* Lex. 1st m.7s,’97t
Louis.* Fr’k.tLoulsv.ln,6s,’8:
Loulsv. * Nashville—
Let). Br. 6s, ’86....
t
1st ra. Leb. Br. Ex.,7a,’80-85.t
Lou. In.
do
6s, ’93...t
Consol. 1st m. 7s, *98
Jefferson Mad. * Ind stock.

104

92

100%
104%

Louisville* NashvMe stock.
ST. LOUIS.
3t. Louis 6s, long
t
do
water 6s, gold
f
do
do
do new.i
do
bridge appr., g. 6s t
do
renewal, gold, 6s.t

106%

,

ao
sewer, g. 6s, r9i-2-3.f
St, Louis Co. new park,g.6s.+
do
cur. 7s.
t

t And

104

THE CHRONICLE
QUOTATIONS

U. S. Bonds and active Railroad Stocks

OF

STOCKS

quoted

are

on a

AND

Bid.

Alabama 5s, 1883
do
5s, 18S6
do
88, 1886
do
8s, 1888
do
8s, M.&E.RR..
do
8s, Ala. & Ch.R.

do
8s of 1892
lo
8b of 1893
Arkansas 6s,f unded
do 7s, L. R. & Ft. S. l8s
do Ts, Memphis & L.R.
-do 7s, L. R.P. B.&N.O
do 78, Mies. O. & R. R
do 7s, Ark. Cent. RR...
Connecticut 6s...

...

do

78. gold bonds...
Illinois 6a, coupon, 1879...
War loan...
do

Kentucky 8s

8KOUEITIH8

Bid.

Louisiana 6s

43
43
43
43

'

Georgia 6s
do
7a, new bonds....
do
7s, endorsed.

8k.

•

.

•

6s, new
6s, new float’gdebt.
7s, Penitentiary
do
6s, levee
do
8s, do
do
8s, do 1875
do
8s, of 1910
do
78, consolidated
do
7s, small
Michigan 6s, 1873-79
do
6a, 1883
do
7s, 1390
Missouri 6s, due 1832 or ’83
ao
do

•

....

do

....

....

'20
20
15
3
3
3
3
3
107

....

....

.

f#(

-

101%
109%
108K
108
103

T

T

.

„

T

do
do

„

104
112
Ill

do
do

Asylum

.•00

103

..

do

104%

105^

105%

100 >4

106%

106%

108
103

do
75
21

Burl. C. Rap. fr Northern.
Canada Southern

assess,

'S3

5%

51

paid.

.

do
do

•

^

^

11

t

•• t

|f t#

100
l57

154

do
do

eons, gua

7s, cons., mort., g’d bds

92

iot
107
104

103%i

do

101%:

do
do

107%;

105% j 106%'

.

o

;

ibu%

;

...

...

.

.

2%

do

•

*

*

+

7!

77%

coupon
1st m., ’90.

76
105
85

....

coupon.

*

|

*

•

88

110
75
72
104
+105
100
rl08
1112
+ 101

112
85
79
107

Compromi.-e
Mobile 5s (coups, on)
8s (coupoi s on)

103
111
115
102

6s, funded

Montgomery,

105
+97
110

109
100

75
102
92
97
83
40
28

85

1 nn.o

..

.

...

....

,'fim

....

..

...

assented
conv

assented.....

.

adj’mt b., 1903.

Lehigh & \Y. B.

con.guar

do
do
assented.
Am. Dock fr Imp. bonds

do
do
assented.
Ch.M Il.fr St.P/st m.Ss.P.D
do
2d in. 7 3-10, do
do
1st 7s, *g:,U.D
do
1st m., LaC.D.
do
1st in.,I.& M...
do
1st in., I. & D.
do
lst rn.,H. &D.
do
lstm., C. &M.
cio
consol, sink, fd
do
2d in
do 1st in.,7s, J .fr D. Ex
C’lic. & N. West, sink., fd
do
lnt. bonds,
do
consol, bds
do
ext’n bds..
do
1st mort..
do
cp.gld.bde.
do
reg. do
Iowa Midland, mt m. 8s.
Galena & Chicago Ext
.

91

36
35
99
92

40
41

C.C.C.&lnd’slst m.7s,SF.
do

consol,

Del. Lapk.fr
do
do

m.

bdf-

West., 2d

in.
conv.

7s,
7e, 1907

mert..

Byr. Bingh.fr N.Y. lst,7t
Morris fr Essex, 1st. m..
do
2d mort..
do
bonds, 190d
do
construct Ti
do
7s, of 1ST.
do

Del.fr

1st con. guar

Bud.Ganal, 1st ra.,’8;
do

do

189
1st extended

do

do
do

coup. 7s, !69^




rev. Ts. 189
*

1

.

98

too

100*

70%

109
104
....

309

(106%
j 115 j

do

I

do

,

!

90%;—

104% 1053.5 j
! '04

....

! 105
(101%

95
95

95%

St. L. & Iron
do

St. L.

do

do

Mountain, 1st

2d mort. luc’mt
Belleville & S. Ill.R. 1st m. 8s
iTol. Peoria fr Warsaw, 1st E.L
do
1st w. D
do
Bui lingt’n Div
do
2d mort...
do
consol. 7s
do P.Com.Hcpts.lst.E.I)
do
do
1st, W.D
co

do
do

;<o
109
77
39
97

l09

10% 'n. Y.

35
110

79
43

l!

Oswego & Rome 7s,

guar

78
,

105%
85
101

!03

*27
100
7
34
28

24

86
*20

...

73%
91%

11

do

ex

1st

class B

30
30

South

do

106

t And accrued interest.

33%

1

9534

m.‘extend, 7139

coupon

85
52

if
Side, L. I., 1st

do

JNo

7s

!

30
30
*99

2d,

66
92
+5

m. bonds
sink. fund..

20

1st...

98
85

price to-aa> ; these aie latest

Nashville & Decatur 1st 7s
Norfoikfr Petersb.lst m.8s
1st mort. 7s
2d mort. 8s.
Northeast., S.C., let m. 8s.
2d. inort. 8s
..

....

99
6

•

do
:y

.

89%

*25

lbt, 6s,MeM.M.W.&Al.Br

|

87%

103% 104-%

27

2d inort. 8s
New 1st mort
New debentures
N. O. & Jacks. 1st m. 8s..
Certificate, 2d mort. 8s.
Nashville Chat. & St. L. 7s
1st, 6s, Tenn.fr Pac. Br..

!

•

101

do

95

.

Orange frAlex’drla, l«t£,Ct
ids,6s
3ds,8s
4ths,8s
Rich. Fred, fr Potomac 6s.
mort. 7e

E4cu.fr Danv. 1st consoles

93

40
75
93
90
56
35

uU ulli W ColLI H)

S.

VJu«| DLULlx*

Carolina RR. 1st

7s..

in.

7s, 1902, low Ncs
7s, non mort
Savannah & Char .1st m. 7s
Cha’ston

104
70
96
88

B

sterling 8s
Sterling ex cert. 6s
8s,Interest

'

*

.103

+105%

1st mort., 8s,
Mobile & Ohio

64
90
75
25

99
78

89%

2d inert., ex coupons....
Miss. & Tenn. 1st m. 8s, A.

....

112% 113%

Peoria Pekin & J. lst mort...

do
do

Memph. & Little Rock 1st
Mississippi Cent. 1st m. 7s

91%

27%

& Osw. Mid. 1st.
do receiv’s ctfi
do
do
(other)

do
do

do
Bur. D
let pref. Inc for 21M
do
forcons’d

94%!; Tol.fr Wabash,
94

i‘3%

30

m.

2d mort.,pref..

i

61

2d 7s
Stock

100

58
84
70

||

100

rice nominal.

%03

2d mort
Og.,con. 1st

do
2dm..
Alton & T. H.,lst mort.

j!
!!

117
I
110% 111?
106
107%
39
39
89
100
lot)

89
90

do

pRome Watert’n &

(95
119

i

....

4th mort....
1st mort

Col. Chic. & Ind. C.,

:il0

Greenville & Col. 7s, 1st m.
7s, guar

73% |

99
90
91
70

..

II Montclair & G. L.ist 7s, (new;
jiN.J.Midland 1st 7s,gold

6s
Stock

Memphis fr Cha’ston lBt 76

98
85
50

ti02

91%

28
37
32
94
93

30
42
35
99
106

102% 103%
62
62

70
70

Sav. 6s, end.
West Ala., 1st mort. 8s
2dm. 8s, guar
PAST DUE COUrONS
fr

.

}

20% Virginia coupons......

Con.ioi. coup......
MemnhiR City coupons..
.

90

20
97
20
30
108
73

60

103
35
35

U9
78
90
65

85
60
103
90
90

95

101%

Georgia RR. 7s

78

....

...

111)4 112

E. Tenn.&Va. 6s.end.Tenn

93

f

53
90

....

.

Peninsula 1st m., conv.
Chic. & Mllw., 1st mort.
Winona & St. P.. 1st in..
do
2d inort.

f

eonsol.m.7s

Stock

48

...

1213*1....

Chari’te Col.&A., cons. 7s.
do
2d 7s.
do

too

*85

...

...

80*

105

....

..

Cent. Georgia
Stock

+ 101
40

y)

.

!,

too

.

j

44

105
101

f

!

do
do
do
do

.

23

103
Consol., end.by Savan’h
86% li Carolina Cent. 1st m. 6s,g.

.

....

.•••

8s, gold..
J on.
RAILROADS.
1
64% I Ala.&Chat.,Ree’sctfs ,var

1

Southern Pac. of Cal., 1st mi
I 95
do
7e. eou
Union Pacific, 1st mort. b’de
107% 103 1
80
j
do
Land grants, 7s. 10734 107% Evansville Hen. fr
Nashv. 7s..
69%: 7034
do
Sinking fund... 103^ 104 j Evansville, T. II. & Chic. 7s.
79
g
Pacific R. of Mo., 1st mort... 10 i%;i05
Pere
Ms
j
Flint
&
8s,Land
grant
69%’ 69
do
2d mort
104 ;.... j:Fort W., Jackson &
Sag.
80
.
8s,'
8!
do
30%:
Income, 7s. J
(Grand R.& Ind. 1st 7s, l.g., gu
55
do
IstCaron’tB
i 92
j'
do
let Is, 1. g., not gu
COPjj 38%
South Pac. of Mo., 1st m
do
j 69%!... I
let ex l.g. is
45
50
Kansas Pac., 1st m. 6s, 1895..
I
j1 Grand River Valley 8s,let 111..
45
no
with coup. Cifs.j 107
jl07%;|Houe. & Gt. N. let 7s, g., certs,
do 1st m.. 6s, 1896
121%; 122
Hous. & Texas C. 1st 7s, gold
106%!
do
with coup. ctfs.
99
do
j 99%!
West. div...
10?>4 10734
do 1st, 7s, Lea\ en.br.,’96
do
|
Waco
10934'no |
do
with coup cifs
42%:
do
10534 iOO |
do 1st, 7<J,E.&L.G.I)’d.’iD
I j In J. Bloom. frWest.
; 103%
do
with Poup. ctfs...
103%;
do let m., 7s. I’d gr., ’50.
K'9 .110 I
do
with coup, ctfs
International <Texas) let is.
1003 a' IGOpfe!
do 2d mort.,7s. 1384.
fill FT Ar (i ’N’. nnm- Cq
US
100
do
with coupon ctf
9774* 98%
do
Inc. cp. No. it on 1916 7
109 !
do Inc. CD. No. 16on 1916 7
1
105%;
do De.i.D v.Trau
Re-. 769
Kansas City & Cameron iO.
7112
MO
Dent :h :d ;p.
do. 750
Keokuk & D.M., 1st 5n gr. R.x.
106
j....
Pennsylvania RR—
Long island RR., let mort.
109%
Pitts. Ft. W. fr Chic., 1st in..
Louisv. fr Nashv. cons. m. 7s.
,
102%. 102%
do
do
2dm..
do
117%j....
2dm„ 7s, g..
do
11023a’
do
3dm.. 108%| ...
Michigan
Air Line Rs, 1890
104
!
Cleve. & Pitts., consol., s.f.

48
35
84

43%

85

...

114% Tlij

■31

35

42
91
75
+101

.

60
35
35
40
5y
x2

78%

8s.
Richmond 6s
Savannah 7s, old...
^8 HGW’
W llm’ton,N.C.,6s,g ,)coup
•

99%

8y

Consolidated 6s.. T
Railroad, 6s..

93%

20

•.

.

69
107
101
100
50
72
55

25

Nashville 6s, old
6s, new
New Orl< ans prem. 5s

100
88

.

1100

ofi

Central of jn j.. 1st in., ’90
do
1stconso1.

115
102

*

....

62%

c

,

83
72

'29

new 5s

New 38

+110% 111%
t!12
113

...

....

a*

£0
98
55
25
25
28
54
15

Bonds A and B
Endorsed, M. & C. RR.

—

...

44
73

'

i

iStock Exchange Prices.)

68%

104
98
97

,

....

,

80

67%

81

Waterworks
1<~3
106
Augusta, Ga., Ts, bonds.'..
110
112
Charleston stock 6s.
non
101% ;Charleston. S. C., 7s, F. L.
tioo
lOflfcf
imbus, Ga., 7s, bonds.
ti07% 108%
+106
106%
MOO
110
Memphis bondt C
+

—

..

59
75

7s, gold, 1892-1910..J.&J. tll2
7s, gold. 1904
J.frJ. t!13
10s, pension, 1894.. J.&J. tioi
CITIES.
Atlanta, Ga., 7s.
97

Miscellaneous List.

—

79%

£8
M.frS. t!02

Texaa 6s, 1892

89

Lake Shore—

.........

79%

47%
103%

3. Carolina con. 6s
(good;.
Rejected (best sort)...

108% lio

......

....

....

79

1st 7s, g
Union & Logansnort Js...
Un. Pacific, So. Br., 6s. g..

7109

Ind., S.F., 7 p.c.
Cleve. & Tol. sinking fund..

....

....

79

....

'

Mich S. & N.

....

T

Soath’n Securities.
(Brokers' Quotations.)
59%
STATES.
Alabama new consols, A..
B,5s
C
77%
Georgia 6s, 1879-’89

59%
il30
coupoi
105%

reg....

....

10
72

9

96

do

•

30%
30%

Tol. Can. S. &Det

88

....

do

•

29%
29%
26
26
26
73
55
38

registered

• •

•

3
?6

small

do

:

coupon

.

.

3

2d mort.,’93....

ex

.

2%

ex
ex

do

.

12

•

,tt|

10
10
2
35

...

Tennessee 6s, old
do
6s, new
do
6s, new series.
Virginia 58, old
8s, new bonds, 1866
6s,
do
1867
6s, consol, bonds
6s, ex matured coup
6s, consol., 2d series
6s, deferred bonds
D. of Columbia 3-65s, 1924.

....

•

10
10

Land C., 1SS9, J. & J
Land C., 1889, A. & O.'...
7s of 1888
Non-fundable bonds

•

.

•

RONDS.

ex coup,

ex

•

108
87
97
78

.

Quincy & Toledo,
1

•

2
2
105
111

(Brokers' Quotations.)
CITIES.
108^)110
Albany, N. Y., 6s, long
i
110% 111
Buffalo
97
do
long
TOO
new bonds
10-%il06% Chicago Water,
!
6s, long dates
Cleve. P’ville & Ash., old bds 104 |lo5
do
7s,
1
do
do
sewerage
new bds
110%i 112
do
7s, water
10*
j Buffalo & Erie, new bonds... ll(‘%j 111%
do
7s, river lmprovem’t
Buffalo & State Line 7s.
103
Cleveland
7s, long
13
14% 11 Kalamazoo fr W. Pigeon, lst'7100
Det. Mon. & Tol.,1st 7s, 1906.
103%
Elizabeth City, short
Lake Shore Dlv. bonds
110% 111
do
129
do
Cons. coup.. 1st.
long
112%ill5% Hartford 6s, various
do
Cons, reg., 1st..
112 |112%
.miscel’ous Stocks.
‘Indianapolis
7-30s....
i-uuo.-...
do
Cons, coup.,2d..
Atlantic & Pac. Tel
HJtH. '104%; Long Island Citv
29
30
do
Cons, reg., 2d
io.j
Am. District Telegraph...
.Newark City 7s‘long
Marietta
&
Cin.
lBt
mort
31
33
Canton Co., Baltimore
’22
1
do
Water 7s, long...,
Mich. Cent., consol. 76, 1902
111
American Coal
j Oswego 7s
do
1st
in.
8s.
10,1
:882,
s.f.
Consolidat’u Coal of Md..
25
Poughkeepsie Water.
do
equipment bonds.
Cumberland Coal & Iron.
rVv Rochester C. Water bds., 1903.
Mo.K &T.,c.ns ass., 1904-5-6.
Maryland Coal
10
V«i
n
iToledo
•
8s. water, 1894-’91
i
2>l
do
m.inr., 1911
Pennsylvania Coal
£22?!
iToledo
7-30s.
!
II. & Cent. Mo 1st, 1«90
^>£7*21 oO
92%
'Ynntofa
Spring Mountain Coal
Wofm* Jnn
50
Yonkers
Water, due 1903
New Jersey Southern 1st in. 7b
20
i
Mariposa L. & M. Co
3% ! N.' Y. Central 6s, 18S3
do
do
7104%'104%
RAILROADS,
pref.
4
*
do
100
€s, 1887
Ontario Silver Mining....
387:
jlU3 i;Atchison fr p. Peak, 6s, gold..
djyA
do
103 I.... 11 Boston & N. Y. Air
6s, real estate...
Railroad ISonids.
Line. 1st in
do
103
i 10434,1 Cairo &
Cs, subscription,
Fulton, 1st 7s, gold...
do & Hudson, let in., coup
121% ,21% California Pac. RR., 7s, gold
lostm H. fr Erie, 1st m..
29
30
do
1st m., reg.
do
121 j. .. j!
do
do
guar.
6s, 2dm. g
i
30
Hudson R. 7s, 2d m1., s.f., l&Sfijm
Eur. C. K & North., 1st 5s..
j Central of Iowa lstm. 7s,gold
t9
63%
j Canada South., 1st:guar
* '75%! 75%! j Chic. & Can. South lstm.
Minn.fr St.L.,lst 7s gua
g. 7s
i Harlem, 1st mort. Ta
120
7s, coup
i;Chic. & East. 111. 1st mort., 6s.
Chest. 6c Ohio bs, 1st m..
do
do
120
7s, reg...
....:!
do
do
ax com,
.2dm.
Inc.7s.
North Missouri, 1st mort
Chicago & Alton let mort
1(6%; Chic & Mien. L. Sh. 1st 3s, ’89.
1 i t>
Ohio & Miss., consol, sink. fd.
101%! 103 j | Oh.St.P. & <M inneap,, 6s,g.,new
do
Income.:+io4
do
consolidated.... 1013-61102%i j do
d>
do
1. gr., 6s, g....
sink’gfundj ys%’ L01
do
2d do
7234! 72% IChlc.fr S’thwestern 7s, guar.
Joliet & Chicago, 1st in. 17109
do
1st Spring, div..
La. & Mo., 1st in., guar..
j
...
j-Cin.
Lafayette
&
Chic., 1st rn.
100
I 100%! | Pacific Railroads—
! 1 Col. & Hock Y. 1st 7s, 30 yeari
St.L.Jack.fr Chic.,1st m.
I 103
|j
Central
Pacific
gold
bonds..
107-%!l07%!
do
Chic. Bur.fr Q. 3 p.c.,lstm
1st 7s, 10 yearf
113
U-Alx
do San Joaquin branch
:!
An
0,1
92%
do
do
eonsol. m.7s 115%
do Cal. & Oregon 1st
93%
do
5s sink, fun 1
do State Aid bonds
Denver Pac., 1st m.ts, ld.c
Ch.Rk.I.&P..s.f.lnc.6s,To.
do Land Grant bonds..
Erie & Pittsburgh 1st 7s.
793%!..
6s, 1917, coupon
Ill
Western Pacific bonds
104%' 104-%
do
6s, 1917, regist’d
con.m.
(ill
Ohio & Mississippi, pref
Pitts. Ft. W. & Oh., guar..
do
do
special.
Rensselaer & Saratoga .
Rome Watertown & Og.
St. Louis Alton & T. H
do
do
pref.
BellevlUe& So. Ill.,pref.
St. L. I. Mt. fr Southern...
St.L. K. C. & North’n.prei
Terre Haute & Ind’polls..
United N.J.R. & G\

•

Ask.

Ill
25
25
10

Funding act, 1866

19%

“2%

AND

coupon

•

....

10%
10%
10%

con. convert
ex

•

19

equip’t bonds.

do
do

92%

•

...

.

84
84
64
64

m. St.L. dlv

Extended,

Raode Island 6s, cp., ’93-4
South Carolina tfs....
Jan. & July
April & Oct

...

18%

2d mort

do

Long JDock bonds..
109%! 110%
j Buff. N.Y. & E. let. m., 1916... 107 ,109
Han. & St. Jo., 8s. conv. mort.
100% 100%
Ill. Cen.—Dub.&Sloux C..lstm
104
do
do
2a div. 7110
;
Cedar F. & Minn., 1st mort..
85
Indlanap. Bl. & W., 1st mort...
30%
do
do
2d mort.

144
„

100%

STOCKS

Bid.

...

•

1336

Tol. & Wabash, :si
do

!

pref., $2

l*a

Rens. & Saratoga, 1st coup ..
do
1st, reg....
Denv.fr Rio Grande 1st m.,1900
Erie, 1st mort., extended
do
2d
do
7s, 1879
do
Sd
do
7s, 1883
do
4th do
7s, 1830
do
5th do
7e, 1888

3914
70%

32%
82‘4

Dubuque & Sioux City.
Joliet & Chicago
Kansas Pacific
Long island..../.
Missouri Kansas & Texas.
Nashv. Chat. & St. Louis
New York Elevated RR..
N. Y. New Haven & Hart.

3d bon’s

mo

70
103

Cleve. Col. Cin. & I
Cleve. fr Pittsburg, guar..
Col. Chic. & I. Cent
Erie

2d do

do

Albany & Susquehanna...

111
100
91)

8BOUBITIK8.

*

•

•

120
121
12 2

A.&O...,

MISCELLANEOUS

Albany & Susq. 1st bds

Railroad Stock*.
Activeprevi'usly quot'd.)

Chicago fr Alton
do
pref

AND

113
113

do coup, off, J. & J..
do
do
off, A. & O.
Funding act, 1866.
do
1363
New bonds, J. & J
do
A. & O...
8peclal tax, Class 1
do
Class 2
do
Class 3
Ohio 6s, 1831
do

RAILROAD

Ask.

.

100
108
105
105

Han. & St. Jos., due 1886
do
do 1837

.

73

103%

105
112

Funding, due 1334-5

....

Bid.

.

20

...

sxauBrTtKa.

New York State68, |gold, reg.. ..1837
68, do coup 5887
58, do loan. ..1883.,
SB
do
do ..1891
do
Ss, do
1892
do
5s, do
.1893
North Carolina—
68, Old. J. fr J
do
A. & O
N. C. RR
J. & J....
..

73%

YORK.

BONUS.

,

71
70

do
1336
do
1837
do
1833.
do
lSS9or’9J....
or Un.,due 1892

NEW

Prices represent the per cent
value, whatever the par may be.

Ask.

52
52
52
52
52
52
52

IN

;

8XOTTBI7TBS.

BONDS

previous page.
STATE

[Vol. XXVIL

quotations made this week.

....

.

35
105
96
76

*45*
106
98
80
90
40
100
100
87
7
43
102
22

*£0
95
99
82
5
36
100

89

110% 112%
84
64
64

86
66
66
55
20

oO

15

80
25

30

109% 111%
99

101

100&

mi
86%

100% 100%
101
9S
90
1<2
88
90
74
35
12
90
100 '
78
104
90
90

.

624

94
76
40
20
95

'80
95
93
36

33
'

*'5

io

20
105
105

40
107

15
40
20
78
30

107
25

80
40

.

THE

1878.]

December 14,

CHRONICLE.

NEW YORK

625

SECURITIES.

LOCAL

Insurance Stock Idst.

Stock List.

Bank

[Quotations by E. 8. Bailey, broker, 7 Pine street. 1
Capital.

Companies.

latest
dates. §

Price.

Dividends.

Surplus

Net
Capital.

at
u

■j

J

A

Amount

P-r

3,000,000 1,391,000

America*.
!.

Bowery

.

Broadway

JButchers\& D

5,ooo,ooc 1,327,400
183,00C
250,00(
1,000,000 l,144,8h()

10(1
100
25

-.

2,000,000

Chase
Chatham
Chemica'

25

.

City
...

Corn

.

.

Exch’ge1

.

East River....
11th Ward*.
Fifth
.

First
Fourth,....
Fulton
Gallatin...

300,000
450,000

100
100
100 1,000,000
25
250,000
25
100,000
100
150,000
100
100,000
100
500,000
100 3,500,000

Grocers*../..

,

Hanover

Imp.&Traders

Irving

Island City*...
Leather Manuf.
Manhattan
Manuf. & Alw.
Marine
Market

Mechanics’....
Mech. Assoc’n.
Mech’ics & Tr.
Mercantile
Merchants’.
Merchants’ Ex.
...

Metropolis*.
Metropolitan
Murray Hill*..
.

..

9
7
12
08
10
8

8

25
200,000
25
100,000
40
300,000
100 1,000.000
100 1,500,000
50
500,000
50
100,000
100
000.000
50 2,050,000
20
100,000
100
400,000
100 1,000,000
25 2,000,000
50
500,000
25
600,000
100 1,000,000
50 2,000,000
50 1,000,000
100
500,000
100 3,000,000
100
100,000
100 1,000,000
100 2,000.000
100
200,000

440,300 M.&N.

10

055,000 A.& 0.
43,100 F.& A.
49,200 May.
48,700 May.
20,900 M.&N.
1111.

0
0
7

....

,,,

114,000 T. & J
7,000 J.&J

J.&J.
1,019.300 F. & A
4,000 J.. & J.

9

.

J.&J.

5

J. & J.

8

J.&J.
M.&N.

10
3
9
8
S

89,900! M.&N
184,200 M.&N
719,000 J. & J.
218,000 r. & j.
.

25! 412.500
20 1.000.000
100! 200.000
Republic
100 1,500,000
St. Nicholas
100 1,000,000
Seventh Ward. lOOi 300.000
Second
:
100
300.000
Shoe & Leather 100 1.000.000
Sixth.
100
200,000
State of N. Y.. 100
800.000
Third.
100! 9^0 300
Tradesmen’s... 40 1,000,000
Union
50 1,200,000
"West Side*
200,000

138.700 J. & J.
4,100
28 i,000; T.& A.
30.100 F.&A.
48,200! J.&J.
67,SOD; J. & J.
232,000! J. & J.
42,200! J.&J
180.300: M.& N.
nil.
-J.&J.
537,509 J. & J.
725,800 vl.&N
78,200 l.&J.

12
12
10
10
7

.

142 500

......

lOOj

8
3
0

6
7

J.&J.
.

.

.

•

.

8

0
12
11
8
.

.

•

8
10
9
8

A

•

-

ug„

f

-1

.,tt

75

....

240

235
400
95

150
...

*

*

-

-

,

,

,

•

•

•

• *

f

*

....

®

,

(

t

....

.

.

,

.

'210
„

.

...

...

;75. 34

.

•

.

’70. 5
’78. 341
120
’78. 4
52
’78. 2
•

.

•

.

_

....

f

•

.

•

.

.

.

3

~

’78. 4

Brooklyn Gas Light Co

25
20

Citizens’Gas Co cBklyn)
do

1,C00

certificates

Harlem

00
20
50
100
Y r.
100

Jersey City & Hoboken
Manhattan

Metropolitan
Mutual, N. Y

320,000 A.& O.

1,850.000 F.&A.
38 t,000 r. & j.
4,000,000 j. & j.
2,500,000 M.& S
1,000,000 vr.& s

5,000,000
1,000 1,000,000
25 1,000,000
Va
700,000
100 4,000,000
10 1,000,000

do
bonds
Nassau, Brooklyn
do
scrip
New York

.

People’s (Brooklyn)
do
do
bonds

1,000

do
da
certificates.
Central of New York

Var.
50
50

5
3

Var.
Var.

2,000,000
1,200,000

Quar.

F.& A.
Var.
M.&N.
M.&N.
1. & .J.
M.
AN.
325,000
& J.
J.
300,000
F.&
A.
460,000

1,000,000 Quar,
Var. 1,000,000 J. & J.
100 1,000,000 M. &N.
100 1,500,000

Williamsburg
do
scrip
Metropolitan, Brooklyn
Municipal

34
3

74
5
5

34

14

•

»

•

.

•

•

•

1,000

1st mortgage

Broadway dk Seventh Ace—stk..

1,000

1st mortgage

10

Brooklyn City—stock
1st

100

1,000

mortgage

100
Broadway {Brooklyn)—stock...
100
Brooklyn dk Hunter's Pt—stock.
1st mortgage bonds
1,000
100
Bushwick Av. (B'klyn)—stock..
100
Icentral Pk., y.dk E. River—stk.
Consolidated mortgage bonus. 1,000
100
Dry Dock, E. B. <k Battery—stk.

1st mortgage,

500&C

conn'd

100

Eighth Avenue—stock
1st mortgage
2d St. dk Grand St
1st mortgage

1,000
berry—stock

Central Cross 'down- stock.
1st mortgage
Houston. West st.dkPav.F'y—stk.
1st mortgage
Second Avenue—stock
3d mortgage
Cons. Convert!ale
*.....
Extension
...

Sixth Avenue- stock
lit mortgage
Third Avenue—stock......
1st mortgage.
Iwunty-ihira Street—stock
1st mortgage

’i’uia colamn




showsTast

100

1,000
100

1,000
100
500
100

1,000
1.000

1,000

900,000
094,000
2,100,000
1,500,000
2,000,(XX)
300,000
200,000
400,000
300,000
500,000
1,800,000
1,200,000
1,200,000
900,000
1,000,000
203,OCX)
748,000
236,000
600,000
200,000
250,000

(J.

& J.
J.&J.

Q-J.
J.&D.

Q-F.
M.&N.

Q-J.
A.&O.
J. & -J
.

j.

& J.
J.&1).

Q-F.
J.&D
J. & J.
J. & J.
M.&N.
A.&O.

•

.

.

3
24
3

M.&N.

•

iod

4
5
3
34

.

•

•

•

.

.

.

...

.

.

.

..

.

09
.

,

...

...
••

Bid. Ask.

’78
’78

’78
’70
...

95
50
80
80
10
90

70
...

.

4

-

.

85
50
80

500.000 J. & J.

1,109,500 Q.-F.
150,000 A.&O.
1,050,000 M.&N.
200,000 A.& O.
750,000 M.&N.
415,000 J. & J.

Oct., .’78
/line, ’84 100

8«

34 Nov., ’78 175
Nov., ’80 104
Ju'y, ’78 135
Jet., ’70 85

7
7
2
7
7
7
5
7
8
7
4

1888

July, ’78
1002
Nov , ’78

100
80

'fid
87
101

June, ’03
’78
Ian., ’84 100
Nov., ’78 115
Apr., ’03 105
Ju y,

Nov.1004

»24
10
85

July, ’94
Apr., ’78
Apr ’85 95
May, ’88
Sept.,’83
May, ’77 00
Julv, ’00 105
N<w.,’78 112*2
July, ’90 92^
Xug.,’78 9o
,

2,000,000 Q-F.
1,000 *,000,000 J. & J.
100
000,000 J & J.
M v. ’93 100
250,000 M.&N. 7
1,000
dividend on stocks, but the date of maturity of
100

.

Hamilton
Hanover..
H oilman
Home

.

.

.

.

importers’*
Irving....

.

.

.

40

280.000

50
100

150,000
200,000

Knickerbocker
-

25

.

122
50

874
33
140
150
101
95
58
101
53
85
85
22

»«4
75
85
76
90
55
85

25
05
70

IOI14
180
110
150
100
102
00
45
98
90
103

8234
85

074

115 ~

bond

10
10
14
272,201 30

183,521
54,868
170,808

200,000
200,000
200,000
210,000
200,000
200,000
300,000
500,000

35
100
& Boston 100
100
50
25
j
25
i
ICO
i
20
1
50
]
50
i
100
I
50
!
100
I
100
i
25
1
100
St.Nicholas.... 25
Standard
50
Star
100
!00
Sterling
25
Stuyvesant
Tradesmen’s.... 25
United States..
25
Westchester... 10
Williamsb’g C . 50

350,000

200,000
200,000
150.000

150,000
1

19,550
50,864
432,403
125,071
418,974
103,590
207,114
112,290

300,000

050,319
11,201
01,535
f33,O01

200,000

73,072

000,000

’200,000
200,000
200.000
200 .oco

200,000
200,000
300,000
200,000
200,000
150,000
250,000

300/00
250,000

10

10
20
114,891 20
184,751 20
115.830 12
332,342 20
170,985 20

200.000

10
10
12
30
20
20
20
15
5
10
10
11
20

209,231
119,037 124
19,411 10

109,443 lift
102.1 22 124
54,227,10

150,210.20
181,242 20
237,990; 10
196,307,10

10

10
10
12
30
20
20
20
20
10
10
13
25

5

130
97
55
90
190
195

137*3

4

05

100

i75

ug*.’78.5-72 120

A

130

120

•Juiy.
’78. 0
July,

50
63
130

’77. 5
Jan., ’77. 5
July, ’7g. s

180

Oft

,

’78. 74 125
100
’78 5
45
’77. 5
105
’78. 5
50
July, ’78. 5 ' 127
July, ’78. 7 100
115
July. ’78. 5
Ju.y, ’78. 74 245
07
JU y. ’78. 34
Ju-iy, *78. 74 125

July,
July,
>uly.
July,

12

10
20
10
10
10
10
12
12
13
10
20
10
20
10
10

July, ’78. ■ ~
luly, ’78.

July,
July,
July,
Julv,
July,
cept.
July.

’78.
’78.
’78
’78.
’78. 5
’78 5
’78.10
Jau.. ’7«. 5
Ju v, ’78. 8

10

12
20
30
20
10
20
18
20
14
20
17

July,
July,
July,
July,
July,

’78. 8
’78. 5
’78.10
’78. 5
’78.10
Aug..’78. 7

Oct

20
20
20
18
20

July,
July,
July,
July,

’78.10
’78. 6
’78.10

Ju y,

’73. 5

,8*

Jan., ’77. 34
July, ’78. 5

’78. 5

’73. 0

i03

lid

70
92
107

10
July, ’78. 5
12
July, ’78. 5
20
July, *78.10
154 10
July, ’78 8
10
10
Aug.,’78 5
11-55 12 35 July, ’78.6*23
15
174 July, ’78. 5
10
10
Aug., ’78. 5
20
!0
July, ’78. 7
25
I 20
July, ’78. 5
16
10
•july, ’78. 6
10
10
Aug., ’78. 5
20
20
•July, ’78.10
'

»o

135
95
121

103
190
130
tO
60
112
103
230
110
187
115
120
00

July, ’77. 5
July. ’78. 5

11

,

UJO170-

135
90
119

165
82
MO
100
80
150
HO
135
105
105
105
S3
135
105

Ju y, ’78.
July, 78. 8
July, ’78. 5
'Ju y, ’78. 6
July. ’78. 5
July, ’78.10
J uly, ’78.10
July, 78. 5

20

lacr
107

108

July, ’78. 5

10
12

84

78. 7

’78.
’7*

1250 July, ’78.0-75ipf>
Oct., 78.10
20?
July, ’78. 5
1Qa
50
Jan., ’77. 3
115
Aug ’78. 5

io

20
10
11
14
30
20
10
20
20
25
.10
20
20

65 j
85

Ju y, ’78.10
July, ’78.10

,

20
14
3
15
15
12
10

30
20
40

10

84

’78. 5
’78.10
Aug.,’78.10

18
5
5
25

id

10
10
10
12
12
10
10
20
10
20
10

July,
.Jan.,
July.
Dec.,

60

78. 5
78.

60
120
105
85
120
135
130
100
195

■

150
90

Mb'

‘90
i‘12

iio
200
150

120
110

il7

i‘25
*80

128

•Over all liabilities, including re-lnsurance. capital and scrip.
f Indus've of
scrip.
Figure-* viili a minus sign before them show that the lomnany is
impaired to that extent.

City Securities.
[Quotations by Daniel A. Moran, Broker, 40 Wall Street.]
Prick.

Interest.

Rate.
NtW York:
Water stock
do

1841-63.

6

Croton water stock..1845-51.
.1353-60.
do
do
Croton Aqued’ctstock. 1865.

5

.

pipes and mains...

do
do

reservoir bonds
Central Pai k bonds. .1853-57.
do
..1853-65.
cio
1870.
Dock bonds
do
1875.
Market stock
1865-68.
Improvement stock.... 1869
do
co
....1869.
Consolidated bonds
var.
Street imp. stock
var.
var.
do
do
New Consolidated
Westchester County—....

Months

Payable.

Bonds
due.?

Bid. Ask

Feb., May Aug.& Nov. 1878-1880 100

5

1854-57.

do
do
do
do

0

0
7
0
5

do

1878-1879 100

do
do
do

1883-1800; 103

May & November.

Feb.,May Aug.&Nov.
do
do

0

7
0
7
6
7
6 g.
0
7
0 g.
7

do

do

May & November.
May & November.
do
do
do
do
do

h

do
do
do

1884-1911
1884-1000
1907-1911
1878-1898
1877-1895
1901
1898

1894-1897
1889
1879-1890
1901
1888

do

104
109
107
101
100
lift
107
117
105
102
111

1024

1879-1882 102

do

January & July.
do

102

1890

uo

1890
1891

111
100

102102'
103

1004
108
117
109
102
107
117
109'
118
106114
112
105
105
112
107

[Quotations by N. T. Brers, Jr., Broker. 24 Wall st.]
Brooklyn—Local iiupPem’i(JU.y hrtnrin
"do
park bonds

..

.....

"...

Bridge hnrds
Kings * :,>r bonds
dodo
Park

...

7
7
7
7
7
0
ft
7

January & July,
do
do
do
do
ao

do

Hriflgn...

do

-1o
do
do
do
do

May & November.
do

0

do

January & July.

bonds

do
T

do

1878-1880 ! 01
1881-1895 105
1015-1924 121
121
1903
1915
121
1902-1905 110
1881-1895 H04
1880-1883! 103

1880-1885 102
1924

110

1907-1010 110

!0«
114

1234

1234
1234

112
109
108
10ft
112
111

•Alillrooklyn bonds Hat.
[Quotations by C. Zabriskie, 47 Montgomery

jei'sey (Juy—
leoy-71.
1866-69.
Sewerage bonds
Assessment bonds... 1870-71.

ft
7
7
7

Improvement bonds 1

7

do

100
100
105

81,507
201,431
227,280

300,000
200,000
250,000
200,000
150,000
200,000

130
115
40
90
20
90
45
100

102,772 20
120,421110
51,804! 10

200,000

Water loan bonds

iio

21,568120

150,000

50
25
100
100
25
50
50
50
50
50

374

•

J’ly,1900

7
0
7

.

Guardian.

71

SO

7

6

.

•

*85

£4
7

3
7
2
7

Globe
Greenwich

1

14 July, ’78

7
3
3
7

.

Bid. Ask.

Last Paid,

174

30
20
40
10
20

.

Germania.

.

.

....

.

....

094

34

,

.

i25

[Quotations by H. L. Grant, Broker, 145 Broadway.]
100

.

....

5
24
3
4
3

34
34 July, ’78
3
Aug., ’7s
14 Juy, ’78
34 Ju.y, ’78
24 Nov., ’78
.

.

’

Sept, ’78 118
Juiy, ’7s 54
Oct., ’78 60
Feb., ’78 30
July, ’78 120
June, ’7r> 148
A Ug., ’78
99
Aug., ’78 90
Oct., ’78 55

,

.

.

Franklin
German-A

84

*

3
July,
34|Nov.,
4
Nov.,
34 Jan.,

,

isT

...

3

Date.

34g

loo
100

Price.

Ju Vf
Ju y.
Ju y,

10
15
15
10
4
10
20
20
20
20

9 80 11-45
80
14
10
20
15
15
10
12

300,000 517.088 30
200,000 102,433114
200,000 —11,973:10
30
110,105|l5
200,000
200,000 154.588; 124
17
90,500119
204,000
d 10
13,380j 10
150,000
10
87,581112
150,000
lOO
—12,658
200,000
loo
1,000,000 720,101 10
SO
500,000 679,890 10
129,778 18
60
200.000
25
321,187 55
200.000
100?
33,298 10
200,000
150,000 137,207 20
50
500,000
599,219 10
50
95,223 10
200,000
100
3,000,000 1 ,179,042 10
1*0,000
19,135 10
50
500,000 141,783 12
50
108,807 12
T..
200,000
100
200,000
41,245 13
10
30
200,000
199,060,20
) 20
150,000

.

.

0)

*

Firemen’s

172.204.20

200,000
1,000,00’ 11000519

40

.

Exchange..,
Farragut...

10

200,000

Joo

.

■vd

3

July, ’78. 34
Nov., ’78. 5
July, ’78. 4

OC

lOO

.

Hope

iod

...

9

+->

Eagle

•

24 80
34 123

Jan., ’78. 3

/■*

Commercial
Continental.

Howard..

128
60

80
’78. 3
’78. 3 122
03
’77. 3
’70. 34
’78. 5 120

PH

153,000 209,780 30
300,000 t403,435;20
210.000
178.940.20
250,000 145,720 20
2,022 !0
300,000

.

City

....

....

3

Amount. Period.

Citizens’.

10
25
15
10
8
10
20
20
20
20
20
20
10
10
25

415,501 30
307,980 20

200,000

Brooklyn..

....

[Gas Quotations by George H. Prentiss, Broker, 30 Broad Street.]
Par.

Bowery...
Broadway.

—

City Railroad Stocks and Ronds,

Gas Companies.

,.

Atlantic...

Emporium,

§ The figures in this column are of date October 1st for the National banks, and
of date Sept. 21 for the State banks.

Gas and

Amity..

1875. 1876. 1877.

28,316 10
13.981 14
1500,904 15
73,779 10
517 8
78,642 10

200,000
200,000
400,000
200,000
200,000
200,000
300,000

lOO

e
....

3
5
4

4

b

Dividends.

1878.*

Amount

.

25

..

Clinton....
Columbia..

34
7
4

.

8
8

t. t

*

3

Jan., ’77.
July, ’77.
July, ’74.
11
July, ’78.
12
Nov.,’78.
0
July, ’78.
10
July, ’78.
0
Juiy, ’78.
July, ’74.
64 Aug., ’78.
64 Aug, ’77.
3
July, ’78.
10
July, ’7.8.
10
Juy, ’78.
7
luly,’78.
7
Nov., ’78.
•

.

•

•

...

3

July, ’78.
Nov., ’78.
74 July, ’78.
8
July, ’78.

314

<;17,7oo

Phenix
Produce*

t

3
5
0

0

10
4

•

,

...

oy

•

1110

r

Nov.,
74 July,
04 Julv,
Jan..
id July,

34

F. & A.
J.&J.
J.&J.
84,500 J. & J.
104,400 /. & J

Peoples’*

100
90

34

’77.
*78.
’78.
’78.
’78.
’78.
’78.

Adriatic..,
A£tna.
American.

...

74 Nov., ’17. 34

10

T. & J.

t

6

8

40,200 i.&j.
857,400 J. & J.
85,3001
68,300! M.&N.
073,100 J. & J.

’78.
’74.
’78.
’77.
Nov., -78.

Jan.,
July,
July,
8
July,
6,4 Jan.,
12
July,
8
Aug ,
Juiy,
Jan.,
"74 July,
9
July,
24 NOV.,

12

412,300

Oct.,
Feb.,
May,
May,

3
7
14

8
3
14
10

22,700 J. & J.
168,100 /. & J.

Q-F.
297,300 J.&J.

7

0
7
8

1,763,200 J. & J.

79,200
7o,700
38,390
55,500

Ju y, ’78. 8
July, ’77. 4
Ju y, ’78. 34

12
Oct., ’78. 3
6 4 July, *78 3
10
Nov., ’78. 5

74

Par

100-Jj 1014

Juiy, ’78. 3
ICO
*°V.f ’78.15
63-2 July, ’78. 3
10
^ov., *78. 5
0
July, ’78. 4

7%

Ask.

129

Jan., ’70. 3
To Aug.. ’78. 5
10
014 July, ’78. 34
74
0
July, ’70. 3
To July, 78, 3
10
12

Nassau*
New Yora
N. Y. County..
N. Y. N. Excli. 100.1 300,000
Ninth
750,000
No. America*.. 70
700,000
North Iliver*.
50
240,000
Oriental*
25
300,000
Pac flc*
DO
422,700
Park
100 2.000.000

July ’7s 4
Nov., ’78. 3
July, ’78. 5

"b

10

148,800
1,277,400 Q-J.
887,800 J.&J.

74,500
284,100
919,800
80,000

Bid

Last Paid.

12
10
8
8

...

081,200 F.&A.
60,800 J.&J.
8,500 J.&J.
47,400 Q-J.

50

Grand Central1

J.&J.
M.&N.
J.&J.
J.&J.
J. & J.
J. & J.
.....

600,000
1,500,000
100
750,600
100
200.000
100
200,000

....

1877

300,000 3,220,800 Bi-m’ly 100
8
600,000 160,900 J. & J.
1,000,000 1,514,000 M.&N. 20
7
J.&J.
5,000,000 2,598,300
3
1,250,000 320,200 J. & J.

Citizens’
Commerce
Continental...

1876

32,700
343,500
23,200
168,100 J. & J.

300,000

Central...

Period

Surplus,
July 1,

Companies.

Bergen bonds

St., jersey Clty.l

January & July.
”

January A Juiy.
do

do

1895
1101
1899-19021107

1878-1879 100

Jan., May, July & Nov. 1878-1819! 100
1891-94 100
J.&J. and J & D.
.1

mnarv

and .lute.

1900

1105

102
108
101
101
107
100

626

THE CHRONICLE,

•iiurjcst merits
AND

STATE, CITY AND CORPORATION FINANCES.
The Investors’Supplement is
published on the last Saturday
of each month, and furnished to all regular subscribers
of the
Chronicle. No single copies of the Supplement are sold at the

office,

sufficient number is printed to supply regular
subscribers. One number of the Supplement,
however, is bound
up with The Financial Review (Annual), and can be purchased
as

in that

only

a

shape.

ANNUAL

the stockholders of the Eastern Railroad in
New Hampshire.
The approval of the railroad commissioners
and of the governor
and council of New
Hampshire has been given to the leases of
the Eastern Railroad in New
Hampshire and of the Portsmouth
Great Falls & Conway
Railroad, as required by the legislature
of New Hampshire.
The whole settlement has been consumma¬
ted and all of the suits at law withdrawn.
The de‘ails of the year’s business show that
there has
-

falling off in

been

the last
on

page

annual

report.
The present

financial condition of the company is a proper
A comparison of the sta'e of affairs
two years ago with that of to
day is necessary to fully compre¬
hend the very marked improvement which has
taken place in
every respect.
The company’s credit has daily been growing
stronger, while the necessity for using it has been constantly
diminishing. Two years ago doubts were very freely expressed
of the ability of the
company to work out of, within any reason¬
able time, if at all, the various difficulties and
embarrassments
which surrounded it on every side.
To-day these doubts have in
a great measure
given place to a confidence which is believed to
be well founded.
Of the various forms of
debt—amounting to
about £13,500,000, which, under the act of
1876, were made con¬
vertible into certificates of indebtedness—there
remains, Septem¬
ber 30, only $227,002 to be converted.
This has been further
reduc d by the converting of $30,000 of debt in October
; so that
at this date the amount
outstanding U $197,002. The total
funded debt, including the old Essex Railroad
bonds, amounts to
$13,587,021. There ha9 been an increase of $’10,244 in the
funded debt, which has been more than offset
by a decrease of
$222,733 in the unfunded debt. There has therefore been made
within the year an actual reduction of
indebtedness «-f $112,489.

subject for congratulation.

favorable decisions

causes.
There has been a small decrease in
the
passenger earnings proper, which has been rather more than
made good by an increase in
express freight, so that “pas¬
senger earnings” show a email increase.
The reduction of
expenses has been effected without any
way impairing the
efficiency of the administration of the road. The

property of all
kinds has been kept fully up to its former condition.
All*expen¬
ditures have been charged to
operating expenses, as well as those
for new work, additions,
improvements, etc.,as those for ordinary
repairs and maintenance of the property.

charged to construction

or

equipment

account.

Nothing has been

The funded debt of the
corporation is $13,587,021; the
unfunded debt $1,488,348;
making the total debt liability
$15,075,370. The total interest paid and accrued for the
year is
$547,316. The cash assets are $447,547.

New York Providence & Boston*

{For the

ending September 3 ', 1878.)

year

At the recent annual
meeting, the old board of directors was
re-elected. The annual report furnishes the

following:

Through

GROSS EARNINGS.

passengers.

$244,260

..

Locai passengers

...

Through freight.....'

Local freight
Mail service...
Rents
Gas

...

..

manufacturing

187,824—$432,085

142,267 124,744— 267,011

9,671

/

Ferry saloon. ..T.

'822

Dividends Providence & Stonington S. S. Co

Erginessold

Operating

112,686

..

$834,698

expenses

Paid dividends
Paid interest

of the courts in several
important
80,287— 380,287
lawsuits, and the suisfactory settlement of others by
1877.
compro¬
1878.
mise, are also subjects of congratulation. There remains
Receipts
one
$853,696
$834,693
$18,997 Decreaee.
suit only yet to be tried, in which the amount at
494,699
436,582
issue is c m- Expenses
58,116 Decrease.
paratively small. The litigation in which this corporation has Net earnings
$358,997
$398,115
been involved
$39,118 Increase.
during the past two years would seem, therefore, Receipts from through passengers—
to be at an end ; and it
B
>at
line
may be assumed that no new questions as
$45,201
$75,755
$30,554 Increase.
•to the interpretation of the act of 1876
fchoie line
are likely to arise.
141,2)4
127,165
17,099 Decrease.
In the last annual report it was stated that
the question
$189,465
$202,923
$13,454 Increase.
respecting the rights of creditors holding ten year notes of the Number of pa sengers carried:
1877.'
1878
company as collateral had been finally settled by the
Through passengers
147,367
Supreme
203,598
56,211 Increase.
Local passengers.
judicial court. Nevertheless, certain of the creditors sought
312,080
3'7,472
14,792 In rease.
by
Commuters
a new suit to
108,626
96.672
re-open the question upon somewhat different
6,954 Decrease.
grounds, or to secure a modification of the decision rendered, but
593,673
657,742
64,0.9 Increase.
without success. The court reaffirmed its
Number of passengers carried one mile, 1S78..
orig.nal
opinion.
This decision has now been acquiesced
in by all the parties to the Number of passengers cairied one mile, 1877.
suit, and they have all accepted certificates of indebtedness for
1877.
1818.
Amount of freight carried:
their respective debts.
Tons.
Tons.
Through f eight
The Euits brought
2 0,933
187,162
13,771 Increase.
by the Merchants’ Bank and the Bank of
L cal frefghf
60,414
78,412
17,998 Increase.
Commerce have both been decided by the
supreme judicial court.
These creditors held notes of the
247,576
279,345
company secured by insufficient
31,769 Increase.
The President, Mr. Samuel D.
collateral; and the question raised wa*, whether, under the act
Babcock,
remarks
: “As will be
of 1876, they were not obliged to make their
election either to go seen by the figures herewith presented, the business of the
road,
without certificates of indebtedness, and make the
both through and local, as
most of their
compared with the previous year, bsa
collateral, or to surrender the collateral and accept certificates of largely increased, viz :
indebtedness. The court decided that, suliect to certain modifi¬ On through
passengers
5^,531, or 38 per cent.
cations, they had the right to sell their collateral and take Oq local p'i8 engers
14,'.92, or 4 3-10 per cent..

.

:

„

certificates of indebtedness for the unsatisfied balance
of their
debts ; and on that basis the matter has been

torily settled.

finally and

sa

isfac-

An agreement was made with the
Portsmouth Great Falls &
Conway Railroad, by which that company was to issue a million
dollars of four and a half per cent
bonds, having sixty ye .rs to
run, and secured by a mortgage of its entire
property, in lieu of
the million dollars seven
per cent bonds, due December 1, 1892,

then outstanding,
and also to make

bearing the guaranty of the Eastern

Railroad ;
a new lease
to the Eastern Railroad for
sixty
"years, in place of the one to the Eastern Rulroad in New
Hamp¬
shire. The Eastern Railroad, on its
pirt, was to pay to the
Portfmouth Great Falls &
Conway Railroad an annual rental
equal to four and a half per cent upon tLe rew
mortgage bonds.
This arrangement was duly
approved at a meeting of th* stock¬
holders of the Eastern Railroad held
September 30, 1878, by a
vote of 27,144 shares to 54
shares.
It was also
duly authorized
by the stockholders of the Portsmouth G.eat Falls
& Conway

Railroad.

In the same connection, it became
necessary to • ft ct pome
settlement of the questions at issue in the
litigation with the East¬
ern Railroad in New
Hampshire. The
tion

c

prolonging of this litiga

working material injury to this
adverse decision by the courts would have had company, and an
very serious coawas

A compromise was accordingly effected,
by which
this company secured, under a new
lease, the control of the East¬
ern Railroad in New
Hampshire for sixty years, at an annual
rental of $22,500.
This was also duly authorized by the Eastern
sequences.

Railroad stockholders at the
meeting in September, by the same
vote above mentioned, and was also
authorized by a majority of




a

earnings of $55,172, which has been met by a
reduction in operating expenses of
$127,664, thus making an
actual gain of $72,492 in net
earnings, as compared with the
results of last year. The
falling off in gross earnings has been
chit fly on the freight business, and has been due in
part to excep¬
gross

tional local

REPORTS.

Eastern Railroad (Mass.)
{For the year eniing September 30, 1878.)
The statistics relating to the
operation of this road in
fiscal year were given in the Chronicle of November
23,
537.
The following is condensed from the directors’

The

[VOL. XXVII.

On through freight (tons)
On local freight (tons)

13,771,

17,998,

“

or 7 1-3 per cent.
or 22ya per cent.

While the gross earnings, in
comequence of the
which have prevailed, have decreased

$18,997,
less by $58,116, leaving the

on

low rates

the other

hand, the expenses are
net earnings
$o9.118 in excess of the previous year. The result is
peculiarly
gratifying in view of the fact that this year has been one of fierce
competit on. with lower rates for both passengers and
than have

ever

freight

before been known.”

East Tennessee

Virginia & Georgia.
{Fvr the year ending June 30, 1878.)
At the annual meeting in
Knoxville, Tenn., Nov. 27, the
stockholders voted to authorize the issue of
mortgage bonds for
the purpo°e of prov ding fur all the
existing bonded debt of the
company at or before maturity.
It is not purposed to increase
the debt, but to provide for
bonds as they mature.
outstanding
I bis company leases the
Memphis & Charleston road, for
wk'ch a separate report is made.
The following figures of the
E.
T. Va. & Ga. road

are

ending June 30, 1878.

1877-78.

Passengers
Freight
Expre s and mails
Miscellaneous
Total

Expenses
Net earnings

from the President’s report for the
year
earnings were as follows :

The

lc76-77.

$300,025
622,519
18.282
...

3,221

$994,019'
668,923

$409,603
$325,126
The President, Mr. R. T. Wilson,
remarks: “The result of
the operations of the year, in a revenue
point of view, have been

December

THE CHRONICLE.

14,1878.]

627

sufficient

to pay the interest on all the indebtedness of the
com¬
dividend of 3 per cent upon its capital stock, maintain
the physical condition of the
property, and leave a surplus o]'
$80,190; but it is proper to state that $55,537 of this has been
applied to the payment of judgments recovered against the
company during the year on old and disputed claims.”

Earnings.

pany, a

The business of the road has suffered from the

rangement of Southern business
while its leased

$70,981

Horses.,
Rents..,
Manure

$77,672

610
160
389

595
418
215

6,513

general aisar

resulting from the yellow fevtr,

$78,651

$7^,902

1,419,613

1,553,453

PROSPECT PARK AND CONEY ISLAND.

Memphis & Charleston line has suffered stil
Horse and steam route from Fulton Ferry to
Coney Island.
more severely, a
large part of its business being stopped for
Stocks and Debts.
months. Tons of freight carried,
1678.
1577-78, $239,054; 1876 77, Capital stock
$5
0,0(0
$218,857.
Fundtd debt
500.000
During the year there were laid 9 miles of steel and 16 miles Floating debt
30,329
of iron rails, and 66,831 new ties ; a new iron
Cost op Load and Equipment.
bridge was built at Road-bed and superstructure
$163,343
Mossy Creek ; 3 engines wtre rebuilt, 2 postal and 26 freight Land,
buildings, &c
678,435
cars

rebuilt. The report recommends an adherence to the
present low rate of dividends until the old rails are all
replaced
and some other improvements made.

Locomotives, hornes, Ac
Cars and snow-ploughs

This company owns a line from
ville, 38 miles. The stock and debt

are as

Stock

....
...

earnlDgs for the

year were as follows

$229,3:5
1,160

$260/50
J,fc 81

654

1,717

$232,192
..3,271,128
3,315

3,855.412
5,650

..

too

Rents

$1,58‘,100

earnings
Expenses

OI

Engines

1877-8.

1876-7.

$92,169

$90,402
52,912

55,897

Net earnings

of freight.

Ton 8

:

Gross

$;61,850
5
23
61

Steam cars
Cats (all kinds)..

Horses

214

$36,262

$37,490
During the year the two engines were both overhauled and
improved. About 100 tons of new steel rails and 10 ions of iron
have been laid.
..

1878.

2,108
19,262
Cost of road and equip....

The floatirg debt as now reported is in litl,
ment, $713,759, eame as by last report.

.

1877.

$500,< 00
303,0i 0

Floating debt

Brooklyn Railroads.
(For the year ending September 30.)
following are from the reports filed at Albany for the

Expenses.

ending September 30:

Taxes

METROPOLITAN ELEVATED RAILWAY.
This report is made for the three months and
twenty-six days ending
September >0, 1878, the only period in the last fiscal year when the road was
running. No report was made in 1*77.

on

$7,140

real estate.

1,240
137,656
21,411
4.000

16,336

Acconnt of steam pr. ject

Stocks and Debts.

Capital stock by charter

188

CONEY ISLAND A BROOKLYN.
jYN.
Stocks and Debts.

New Tork &

The

$1,161,405
$212,385

.

Total

year

$1,213,233
$216,027

Manure, Ac.

$1,080,100
50'*,000

Bonds

The

19,454

Earning s.

follows;

7 5.514

50,922

Expenses

Knoxville, Tenn., to Carey-

$136.7?: 2
& 2,684

80,526

Totals

Knoxville & Ohio.
(For the year ending Jane 30, 1378.)

1877.

$500,000
: 00,010
4 ,904

4,1 U

$i,5r0 C00

Stock subscribed
Stock paid in
Funded debt

655,000
655.0(0

7,5(0,000
F oaling debt
Cost of road snd t quip nett, $8,155,000,
being on account of firtt section of
five miles by if sue of bonds, as follows:
First mortgage at six per cent
$3,OCO,000
8econd mortgage at seven per cent
4 500,000
Stock
No statement of each separate
still in process of cons.ruction.

.

650,000

.

item of construct

is made

on

as

$1

Freight

.

..

$189,909

Earnings.

Passengers

$176,616

Manure

iron,lumber, Ac

Ken

1,4 «
1.008
1,318

...

s

Sales real estate

:

7,000

Hcrees

1,334

ihe road is

$188,750

Expenses OOur than Construction.

Repairs, road-bed, Ac

$1,956

General superintendence

37,649
1,376
2 ','46
1,614
1,473
1,020

•

....

Insurance

723

Advertising and printing

2,702

Total

$124,072

Earnings.
$343,797

Interest...;

2,471

Total
cars
Passenger cars

.

SECOND AVENUE RAILROAD.
Slocks and Debts.
1878.

Fonded debt

$1,846,359
814,058
16,616
92,80u

harness, Ac

Totals..

Expenses

The dividends last year wtre

Passengers

Manure
Car panels

3,621
1.200

Passengers tarried

$807,949
16,062/60

.'

Number of c.:rs
Number of horses and mules

67

.

1,197
NINTH AVENUE.
1873.

$797,320
207,000
...

as

oa

road. &c
rea’estate

Operating tbe road.

Interert

Total




23.700

bv last report, $999,422.

Repairs of

T8xe«

.

.....

16,260

59,3-33

Fassengers
Freight

$;35,346

Earnings.
%

$122,423
I

146

12,775

Total
$135,34$
The surplus earnings h-ve been devoted to payments on cost of road*

GENERAL

INVESTMENT NEWS.

Arkansas Midland.—The bondholders who

bought the Arkan¬
July, 1877, have organ:z-d
160.919
new company under the above title,
The road is of 3 feet
114,530
gauge, and is 48 miles long, from Helena, Ark., on the Mississippi
$2,821,269 River, to Clarendon.
$774,238
Atlantic & Pacific Telegraph.—The board of trustees of the
Atlantic & Pacific Telegraph Company met and declartd a
quar¬
1779,178 terly dividend of £ per cent. The following statement ot the
company’s condition was made public : Unavailable assets (stocks
3.716
1,300 of other companies, patents, &c.), $654,460; cash at jets, $201,203;
total liabilities, $35,286; net cash assets, $165,920;
amount
$784,195
15/ 83,576 required to pay dividend,$105,000; surplus,Dec. 1, 1878, $60,920.
167
Bank Taxation on Bonds.—Pursuant to the opinion of the
1,145
Attorney-General, the Treasurer has issued a circular letter to

Stocks and Debts.

Capital stock paid in
Fund, d debt
Fioatieg debt
Cost of road and tquipment, same

27
53096

Total

1,62*,500
20,0C0

699,679

$2,89°,834
$730,466
at the rate of eight per cent.
Earnings.
$803,128

Totals

$3,357
1,062
2,319

Payments to surplus fund

$1,846/ 59

<•-

..

Expenses.

Iuterest

$1,995,500

1,322,( 00

Road-bed
Land, bui dings, &c

25
80

... *

,

Repairs of road-bed, Ac
Repairs ef engines
Repairs of cars (passenger)
Repairs of cars (freight)
O eratingroad

1877.

$1/99,500

Floating debt
371,600
The floating debt includes $180,f00 in
mortgages on real estate.
Cost of Road and Equipment.

..

.

Cost of the road and equipment, $1,251,059;
by last report, $5,0 0. The roan
began carrying passengers in January, 1678, ana no report of transactions for
last year, further than above, is given.

Rents

-

CLrs

Floating debt

4,320,348

Dummy

1877.

$77,250

$351,272

Passengers carried

H •n-es,

187S.

36 843

.‘

Law expenses

Capi’al stock paid

Stocks and Debts.

17,151

Oil and waste.,
Damages to persons and property including me.lical attendance

Passengers

ISLAND.

800

Officers, clerks, office, Ac
Conductors, drivers and engineers
Watchmen, starters, road-men, &c.. .;
Repairs of dummy cars
Fuel, gas and ligUts

.

3,457,788

1877.

$797,320
207,603
23,460

$V58

$’,446

5,597
53,873

4.15C
55,395

14.472

14.490

$79,001

$80,481

sas

Central road at foreclosure sale in

banks, in which he says:
“In pursuance of this opinion, a national bank may. in estimating United
States bonds as a deduction from'capital. taVe such bonds at their cost in
currency, deductii g therefrom any interest that may have accrued to date of
purchase, coin interest being conveited into its currency value.
Payment of s mi-annual duty may hereafter be made by check on New
York in favor of the Treasurer of the United States, and sent to this office, or
in favor of the Assistant-Treasurer of the United States, New
York, and sent
“

to

him.”

Boston City Loan.—The committee on finance of the city
government me^ recently and voted that subscriptions be received
a7 the treasurer’s office,on Wednesday the 18th instant, a loan fox

628

THE

CHRONICLE.

for improved sewerage of $1,000,000, dated January 1, 1879,
payable in twen’y years, bearing interest at the rate of four per
cent per annum, payable semi-annually;
both principal and
interest payable in currency.
The loan is to be issued in bonds
of the denominations of $50, $100 and $1,000.
The denomination
of one thousand will be issued in both coupon and registered
bonds, at the election of the subscriber when making his
subscription, and the small denominations in coupon bonds only.
Subscription is to b« limited to $10,000 for any one individual
until February 1,1879, and on and after that date the balance of
the loan not subscribed lor may be placed in
any amounts desired
by subscribers.
Chicago & Northwestern.—The Northwestern Union is one
of the proprietary roads, and was to be built about 140 miles in
all, and bonds were to be issued at the rate of $25,000 per mile
in all.
The whole amount—$3,590,000—was issued, but only
the 62^ miles from Milwaukee to Green Bay
were built, and it is
claimed that the bondholders have a right to
demand the com¬
pletion of the balance of the road. It is stated that Messrs. Ten
Have & Van Essen, the bankers, of Amsterdam, Holland, have
written, demanding that, in justice to the bondholders of the
Northwestern Union, the unfinished portion of that road—the Lodi
Branch—should be completed in accordanca with the mortgage
upon which the bonds were issued.
'
Coal Combination.—The following letter was sent to Messrs.
Dickson and Gowen from Mr. Swoyer, of tlie
Lehigh Valley

operators

December 7. 1878.
Messrs. Dickson and Gowen, Committee.
Gentlemen
I have to acknowled ge the receipt of
your favor of the 5th
inet., and in answer would say that we were appointed a committee only for
the purpose of ariangmgfor temporary
stoppages to sustain the trade pending
definite negotiations in January and afterward
for an arrangement for 1879.
If you insist that a permanent arrangement must be made before

January 1,
next, we, as a committee, have no authority and no business necessary to
occupy your time further.
If I am wrong iu this construction of your letter and
you do not make it a
condition that an arrangement shall be co ^eluded before the 1st o.
January,
please advise

Yours Truly,

me.

J. II.

Swoyer, Chairman Committee.

Delaware

Hudson Canal.—There have been placed on the
regular list of the New York Stock Exchange the Delaware &
Hudson first mortgage (Pennsylvania
division) 7 per cent bonds
of

1917.

From the official

Exchange November 20,

we

statement

extract the

submitted

following

to the S:oek

:

The company has decided 1o issue its bonds
falling due September
of the following denominations: Coupon bonds,
$t,0U0 each.

1, 1917.

Registered bonds £5,000 each, amounting in the aggregate to the sum of
$10,000,000, and request that the same be placed on the list of the s ock
Exchange. Coupon bonds, No. 1 to 5,000, interest 7 per cent, payable March
1 and September 1.
These bonds are secured

by a deed of trust or mortgage to the Union Trust
Company of New York, as trustee, dated August 13, 1877, covering the real
estate, coal lands, railreadp, &c., of the company in Pennsylvania. Of these
bonds £5,000,100 are reserved to cover the seven
percent debentures of the
company due in 1894, in accordance with the agreement made at the time
those were originally negotiated.

European & North American.—The trustees, Hannibal Ham

lin

and W.

section of
tember 30

:

B.

Hayford, who are in possession of the Maine
this road, report as follows for the year
ending Sep¬

Gross

earnings
Expenses

1877-78.

1S76-77.

$359,873

$357,912
2:7,504

23",351

Net earnings
$129,522
$140,108
All tlie expenses of the
change of gauge have now been paid.
The trustees have no floating debt, all their
purchases being
made for cash, and the pay-rolls settled

promptly.

James River & Kanawha Canal.—A proposition is
pending
to convey the whole property of this
company to the Richmond

& Alleghany Railroad Company, the latter to construct a rail¬
road between Richmond and Buchanan, Va.,
up the valley of the
James River. For the faithful performance of the contract, the
articles of agreement are to require the
Alleghany Railroad to

deposit $500,000 in United States registered bonds with the Board
Virginia.
Hon. Thomas Ewing, of Ohio, furnished the
following names as
constituting the present directors of the Richmond & Alleghany
Valley Railroad: James R. Keene, of New York ; Thomas Ewing,
of Ohio; Hugh McCullough, of New
York; T. S. Bocock, of
Virginia; John P. Jones, of Nevada; George S. Palmer, of
Virginia; S. W. Bocock, of New York; IL C. Parsons, of

of Public Works of the State of

Virginia.

Keokuk & Des Moines.—The Stock
Exchange Committee on
Securities have added to tlie regular list the first
mortgage 5
per cent bonds of tbe Keokuk & Des Moines Railway Company.
The road is leased for forty-five
years, from October 1, 1878, to
the Chicago Rock Island & Pacific Railroad
Company, at 25 per
cent of gross

earnings, with

specific guaranty of five per cent
interest indorsed on the bonds by the
lessees. The amount of
bonds authorized is $2,750,000.
Lclligh Valley.—At a meeting of the board of directors of
the Lehigh Valley Railroad Company a
quarterly dividend of 1
per cent was announced, payable January 15, 1879.
It was re¬
ported to the board that the net receipts of tbe company this
fiscal year (which ends on the 30th of
November) are $396,000
less than they were in 1877, when there was
paid at four stated
dividend periods 54 per cent. This
year the company has made
four quarterly dividends of 1
per cent each.
The 14 per cent dif¬
ference less this year than last is equal
to $406,000.
Montclair & Greenwood Lake.—Argument has been heard
by
the Chancellor of New
Jersey, on a petition filed by some of the
bondholders, asking that the recent sale of this road be set aside
and a re-sale ordered.
The road continues in
charge of Receiver
Hobart, although the new company has been organized with 1



a

Abram

S.

[Vol. XXVII.

Hewitt

as
Mr. D ivis, the accountant
president.
purpose, has just completed a scheme for thedistribution of the bonds of- the new
company to those entitledto receive them under the
re-organizition plan, and it has been

employed for the

approved by the directors.
fer tbe terminus
of the new Erie

New Orleans

from

Preparations are being made to trans¬
Jersey City to Long Dock, in tbe interest

owners.

City Ronds.—At

a recent

nuetingof the City
presented, in
city debt. Tiie

Council of New Orleans, the Mayor’s address was
which he advocated a new “adjustment” of the

following is extracted from the address:
The present assessment of the
city, as also for the next
two years, under existing laws, is
$11,000,000 (in round num¬
bers).
The tax is limited to 14 per cent, out of which
enough is to be appropriated to meet tlie allotments, principal,
interest and premiums of that year—until the
year 1881, when at,
least one-half of 1 per cent shall be
appropriated yearly to meet
“

future allotments.

It

will

be

observed that one-half of

cent cannot be exceeded for that
purpose.
of this act, in 1876, 26 cents out of the tax

1 included in the

J

i

1 per

Under the operation
of 14 per cent was

budget to meet the allotment of the year, amount¬
ing to $307,500. In 1877, 40 cents, to meet the allotment,
amounting to $426,250. In 1878, 46 cenis, to meet the allotment,
amounting to $509,500. Will 50 cents, the limit, be sufficient to
meet tlie

allotment for 1879 ? Let ns see. The assesement
being
$11,000,000, ^ of 1 per cent will be $555,000; the allotment will
be $598,750 ; leaving a
deficiency of $43,750.
“

In addition to the accumulated interest due

on

tbe unfunded

debt, should the courts decide in favor of the bondholders, there
will still be a yearly interest
accruing of about $500,000,which must
be met, if met at all, by a tax, in addition to the
14, of 1 per cent,
to which the taxing power of the
city is now limited, and such
limitation is made a contract, ‘not
only with the holders of said
premium bonds, but also with all residents and taxpayers of the
said city, so as to authorize
any holder of said premium bonds,
resident or taxpayer, to legally
object to any rate of taxation in
excess of rate herein limited.’
Act 31, section 6, 1876, page 54.
“It is also my duty to call
your attention to the fact that bonds
to the amount of $683,400. the holders of which
having refused
to fund into premium bonds, are
past due, and that the question
of their settlement is before the courts.
Also, that in the next
thirteen years bonds to the amount of four or five millions
will fall due, and no provision is made to meet them outside the
premium bond plan. Should the decision of the courts be
adverse to the city, what can be done to
provide for their pay¬

ment?
“
*
*
*'
*
*
*
*
“I would, therefore,
suggestfor discussion and inquiry that the
debt be scaled, say to 50 cents on the
dollar, which would reduce
the debt to $10,000,000; interest to be
paid at the rate of 5 per
cent per annum, and that each year a certain number of bonds
should be retired on the cumulative
sinking fund system; that
no bonuses be
given, the amount now given as such being added
to the amount for redemption.
For

example, the debt being
$10,000,600, there would be paid : First year, interest, $500,000;
redemption, say $250,000; total, $750 000. Second year, interest,
$487,500; redemption,say $262,500; total, $750,000; and so on for
twenty-two years, when the debt will be extinguished.” * * * *
New York Lake Erie & Western.—Mr. George R. Blanchard,
vice-president of the Erie Railroad, is reported as saying that the
prospects of his road

flattering. The laying of
completed the entire length
on January l,and
that, with other improvements which are going
on, will make it one of the finest roads in the country.
The new
yards and shops at Jersey City are ready, and arrangements are
complete for the construction there of an elevator with a capacity
of 1,000,000 bushels, and on the
opposite side of the dock from
the elevator will he built two immense
warehouses, one for
import and the other for export business.
The company has built
3,000 narrow-guage cars and forty
consolidation engines.
The narrow-guage cars will run to
were

never more

the third rail—narrow guage—will be

Buffalo, while the old broad-guage cars will connect with the
Atlantic & Great Western Railroad for the South and West.
The
company has also defeated all opposition to its new line into New

England, which will be completed by Juue 1 next.

The narrowline between Buffalo and the anthracite coal region at
Carbondale, a distance of 270 miles, has also been completed.

guage

Northern Pacific—St. Paul & Pacific.—The St. Paul
Pioneer-Press says of tbe agreement between these
companies
that the St. Paul & Pacific
grant tlie Northern Pacific tlie joint
use of their tracks and
depots from Sauk Rapids to St. Paul
under a lease in perpetuity, or for
ninety-nine years, which,
though necessarily in the form of a lease, is in effect a sale to

the Northern Pacific of

one

undivided half interest in that line of

road, the St. Paul & Pacific reserving the local traffic on the line,
and agreeing also to keep the track in
good condition. The
agreement also settles all disputes and matters of rivalry between
the two companies, and the Pioneer-Press remaiks: “The Northern
Pacific is lett free, by its
disentanglement from local conflicts in
Minnesota, to work out its great mission in extending its great
continental highway to Puget sound.”
Ohio & Mississippi.—A suit Las been
brouglit.in tlie United
States Court for the Southern District of I
linois, against tha
Ohio & Mississippi Railroad
Company, by certain stockholders, to
set aside the purchase of the
Springfield & Illinois Southeastern
Railroad.
Argument was heard in Chicago Dec. 10 by Judge
Drummond. The defendant company is represented
by Henry
Crawford, of Chicago, and the stockholders by Perry Belmont
and C. W. Hassler, of New York.
—Mr. John King, Jr,, Receiver of the Ohio & Mississippi Rail-

road has filed with the Clerk of the United States Court the fix

December

THE

14, 1878. j

lowiDg statement of moneys received and
month of November:

exchange therefor the 7 per cent general mortgage bonds of the
Pittsburg C. & !St. L. Company, secured by mortgage upon the
entire property of the consolidated company.
49,275
Prices for Gas.—Commissioner Campbell, of the Department
836 of Public
Works, received and opened six bids for supplying
$571,149 illuminating gas of not less than sixteen-candle power to each
burner lo all the public markets, buildings and offices in the
$13,928 city. The offers were as follows : New York Gas-Light Com¬
16 pany, in its district south of Grand street, gas of not less than

RECEIPTS.

$64, i 19
452,160
4,756

oh

Total
DISBURSEMENTS.

Vouchers prior to Nov. 18, 1878
Arrearage prior to Nov. IS, 1878

Pay-rofls8 subsequent

to

Not*. l!' i!tI !"! 1!I""!!'!!! 1 ‘!"!!

Arrearage subsequent to Nov.
Cash onTiand Dec. 1, 1878

18, 1878

639
_

*.

639

212,469

sixteen-candle power at $1 90 per 1,000 feet; Manhattan Gas| Light
Company, between Grand and Thirty-fourth streets, gas of
sixteen-candle
power and upwards at $1 90 per 1000 feet;
Gas-Light Company, for all places on the line of its
mains, gas of not less than nineteen-candle power at $2 per 1,000
feet; Municipal Gas-Light Company, for all places cn the line
of its mains, gas of not less than tvi enty-candle power at $1 90
per 1,000 feet; Metropolitan Gas-Light Company, for all places on
the line of its mains, gas of not less than sixteen-candle power
at $2 per 1,000 feet where less than 50,000 feet are burned monthly
and $1 75 per 1,000 feet where over 50,090 feet are burned
monthly; Harlem Gas-Light Company, for all places on the line
of its mains, gas of not less than sixteen-candle power at $2 per
1,000 feet. Tlie bids last year of the New York, Manhattan and
Mutual companies were the same as this year.
Last year the
Municipal Company asked $2, the Metropolitan $2 25 and the

Mutual

$571,149

Total

Pacific Mail’s New Contracts.—The Tribune reports that the
’

contract between the Union and Central Pacific
Sidney
Dillon, President of the Union Pacific, C. P. Huntington, Vice
President of the Cent. Pac.,andD.S. Babcock of Pacific Mail. The
present contract is understood to cover the freight and passenger
traffic of the steamer advertised to sail on Thursday.
Pacific
Mail, it is stated, claims a monthly allowance of $30,000 for pas¬
sengers and $25,000 for freight, which will leave $15,000 to be
realized from its net earnings to meet the $70,000 a month to be
paid to the Panama Railroad. The Union and Central Pacific

proposed

new

Railroads and the Pacific Mail SS. Co. is in the hands of

Roads claim that the amount allowed under the present contract
is sufficient, being $25,000 on passengers and $19,000 on freight.
A compromii-e amount, it is believed, will be agreed upon, by
which Pacific Mail will be paid $50,000 a month in consideration
of its maintaining freight and passenger rates, and permitting
the railroads to carry all the light freight. The officers of all the

companies expressed the belief that a new contract, to last until
January 1, 1880, would be agreed upon.
Pacific Railroad Cases in the U. S. Supreme Court.—
In the United States Supreme Court, Dec. 12, in the case of the
United States, plaintiff in error, against the Central Pacific
Railroad Company, tlie points argued were similar in many
respects to those involved in the case of the Union Pacific Rail¬
road Company against the United States, argued on tlie 3d inst.
The cases of the United States, plaintiff in error, against the
Kansas Pacific Railroad Company, and the United States, appel¬
lants, against the Denver Pacific Railroad Company, were also
argued,
The general grounds upon which the railroad companies base
tbeir refusal to acknowledge the claim of the United States to 5
per cent of their net earnings are:
First—A denial of the correctness of the dates of their com¬
pletion as “stated by tlie government;
Second—A denial that the United States is entitled to any
part of the net earnings of such parts of the roads as were con¬
structed without the aid of subsidy bonds ; and,
Third—A denial of the correctness of such a definition of “net

earnings”
as

well

as

as

does not allow the deduction of interest on the debt
running expenses Irom the sum total of gross

actual

receipts.
Paris & Danville.—December 18th is the date appointed for
arguments by attorneys as to the sale of the Paris & l>anville

Railroad to Charles Ridgely.
Objections to tlie sale have been
filed by Charles B. Wick, of the firm of Wick, Ridgeway & Co.,
New York. Various grounds for the objections are stated,

mainly that “ said property was bid off by Charles Ridgely, who
now a director of the Wabash Railroad Company ; that such
purchase was made by him iu secret trust for Solon Humphrey,
A. L.
Hopkins, M. K. Jesup, and other directors of tLe
Wabash Line; and that such corporation has already substan¬
tially agreed to buy or lease such property at a capitalization of
$600,000, or twice the said bid.”^
Philadelphia Finances.—The Mayor, in a message to the
Councils, announced that the sinking fund contained about $13,000,000 of city loans, on which the annual interest paid is nearly
$800,000. There are but $200,000 of city loans maturing in the
is

and the Mayor recommends, to relieve the tax¬
payers from the burden of tax necessary to pay this interest, that
the debt held by the sinking fund be cancelled; and he asks
Councils to pass an ordinance for that purpose, which be appends
to the message.
If this is done, the exact amount of loans
cancelled Will be $13,164,765. The funded debt of the city is
$61,099,241, and if this cancellation is made it will be reduced to
$47,934,470. The sinking fund also contains Pennsylvania Rail¬
road stock valued, on November 1, at $1,937,129, North Pennsyl¬
vania Railroad stock valued at $836,700 as tlie sum of the
payments yet to be made by its purchasers, and $371,042 in cash.
The Philadelphia Ledger says: “The message of the Mayor
.receives approbation so far as it expresses a wish to relieve
taxpayers of all burdens not absolutely necessary, but it does not
for the mode suggested to bring about this result.
First, his plan
impairs tlie obligation of contracts. The Consolidation Act, on
which; as fundamental, the matter rests, cays:
next two years,

“ ‘

No debt shall he incurred or loans made by the said city without a contem¬
poraneous appropriation of a sufficient annual income or tax, exclusive of loans,
to pay the interest and sink the principal of such debt in thirty years.’
“

requires that a sinking fund shall be established for
the redemption and payment of each loan, and the city is bound
The act

to all its loanliolders to

629

gage on the undivided one-half interest in the 33 miles of rail¬
road extending from Newark to Columbus, Ohio, can receive in

disbursed during tlie

hand November 1
Received from station agents
Received from conductors
Received fioin individuals, R. R. Co.s, &c
Received from express companies
Cash

CHRONICLE.

lay, with the creation of each loan that it

Harlem $2 75.

St. Paul & Pembina.—On

November 15th, an order was
by Judge Dillon, of the United States Circuit Court, for the
issuing of $1,016,300 in bonds, to be given tlie parties who
furnished the money to build seventy-five miles of tlie main line
to Pembina, Dak., and the forty-six-miles branch to Alexander,
made

Minn.

Western Union

Telegraph.—Judge Blatchford signed the

decree on the decision rendered by liim in the United States Cir¬
cuit Court, in the suit of Clinton G. Colgate against the Western
Union Telegraph Company, yesterday, in which the defendants

infringed the Simpson patent for the gutta-percha insulation of
telegraph wires.
Judge Blatchford said that it was customary for courts to
grant a perpetual injunction as a part of an interlocutory decree,
but the doing so was always discretionary with the court.
The
burden lay upon the defense, however, to put the court iu pos¬
session of any facts which would lead it to depart from this
practice. The interruption of the defendants’ lines would pro¬
duce great trouble and inconvenience as between the public and
After a long consultation between the court
the defendants.
and counsel, a decree was presented and signed establishing the
plaintiff’s right to the patent, and requiring the defendants to
account for all tlie savings to them and damages to the plaintiff
caused by the infringement.
Argument is to be heard on
December 23 as to the question of granting a perpetual injunction.
—The report for the quar;er ending December 31, 1878, con¬
tains the following:
Iu the report presented by the executive committee at the last
quarterly meeting of the board, held September 11, 1878, the net
profits for the quarter ending September 30 [(August being par¬
tially and September wholly estimated) were stated at $1,001,364.
The official returns for the quarter (ending September 30) showed
the profits to be $1,137,578, or $136,214 more than the estimate.
The following revised statement, based upon complete returns,
will show the condition of the company at the close of the quar¬
ter ended September 30, 1878 :
4
Surp’.us July 1, 1878, as per last quarterly report
Net prolits, quarter ended

$369,083
1,137,578

September 30, 1878...

$1,506,662
From which

deducting—

Dividend of 1J4 percent, paid October 15, 1878
Interest on bonded debt.
Interest on amount due for purchase of Atlantic

,...$525,936

107,350

& Pacific

1,847

Telegraph stock
Sinking-funds appropriations
Construction accounts
Purchase of sundry telegraph

20.0C0
29,112

stocks, patents, &c

3,534

$687,780
fund for the currency bonds of
previously) returned to the com¬
pany by the Union Trust Company, trustees, because of
the drawn bonds not haviug been presented for redemp-.
tion
40,000
...

.

Less portion of the sinking
1,900 (which was set aside

647,780
There remained a surplus, October 1,1878, of
The net profits for the quarter ending December

31, instant, based
upon official returns for October, nearly complete returns for
November, and estimating the business for December, reserving

$858,881

amount sufficient to meet the claims of the Atlantic <fc Pacific
Telegraph Company under existing agreements, will be about....$1,014,795
Add surplus October 1, as above...
858,881
*

From which

Payment of debt incurred August, 1877,
& P. Telegraph Company stock
Interest on bonded debt..

by purchase of A.

..

Construction, purchase of stock
Sinking fund appropriations
>

$1,873,677

appropriating—

y

Leaving a balance of

of leased lines, etc

$906,250

107,350

60,000
20,000

$780,077

525,936
appropriation of annual tax sufficient to redeem the
loan at its maturity, which is thirty years.”
Deducting which, leaves
$254,141
In view of the preceding statements, the committee recommend
Pittsburg Cincinnati & St. Louis.—Notice is given that
the holders of the 7 per cent unregistered coupon bonds of | a quarterly dividend of
per cent. Nothing whatever was
the Steubenville & Indiana Railroad, secured by the first mort-1 said respecting a distribution of the surplus stock.
makes,

an




A dividend of

per

cent on the capital stock outstanding requires.

$1,093,600

630

THE CHRONICLE.

[Vol. XXVII.

JJfae ©jcrmmmial

COTTON.

Friday, P. M... December 13, 1873.
The Movement of the Crop, as indicated
by our telegrams
from the South to-night, is given below.
For the week ending
this evening (Dec. 13), the total

COMMERCIAL EPITOME.
Friday Night, December 13.
The past week baa been an unfavorable one for trade. A
violent storm extended over the Eastern, Northern and Western

receipts have reached 220,291

bales, against 220,748 bales last week, 184,625 bales the previous
week, and 181,376 bales three weeks since; making the total
receipts since the 1st of September, 1878, 2,171,273 bales, against
States, causing such floods as to damage railroad transportation, 1,876,G87 bales for the same period of 1877,
showing an increase
since September 1, 1878, of
and interrupt the. movement of merchandise in all directions.
294,586 bales. The details of the
receipts for this week (as per telegraph) and for the
The holiday trade is much embarrassed in
consequence.
Lead
corresponding
weeks of four previous years are as follows:
ing staples of agriculture generally declined, but were all firmer
1878.
1877.
to-day, and there is some revival of speculative confidence in Receipts this w’k at
1876.
1875.
1874,
them, but exports are restricted by dull foreign advices, and this New Orleans
75,162
62,835
61,715
59,747
56.986
na.ufa ly cutises a decline in ocean
26,923
20,091
freights. There is a much Mobile
18,314
23,120
23,179
Charleston
better feeling at the close, and some revival of
22,458
24,144
23,126
19,960
regular business. Port
22,366
Royal,
&c
594
1,669
1,803
was
There
further depression in pork, lard,
1,094
1,020
bacon, &c. Mets Savannah
26,197
28,88 4
25,153
24,358
30,615
pork declined to $7@$7 10 for old, for January delivery, and Galveston
26,316
23,816
28,862
22,531
20,693
$8 503$3 55 for new mess, for February delivery, but there Indianola, &c
261
438
993
637
1,325
was some recovery to-day; 1,000 bbls. new mess sold at
12,450
10,528
10,075
11,803
$3 80 for Tennessee, &c
7,146
899
3,472
999
March, and held at $8 75 for February. Lard declined to $5 90 Florida
1,095
701
North Carolina
3,864
10,451
6,072
5,529
6,063
@$5 92* for prime Western, spot, December and January, and $6 Norfolk
16,801
16,457
17,971
22,928
17,745
for February, but these low prices
brought out a more active West Point, &o
5,793
2,593
1,358
831
595
demand, and to day there was a recovery of about 5c. per 100 lbs.
Total this week
220,291
202,805
196,436
193,642
188,434
The Western markets show some
improvement. Bacon and cut
Total
since
Sept. 1. 2,171,273 1,876,687 2,227,834 1,957,528 1,821,858
meats have bet n on’y
moderately active at the reduction. The
slaughter of swiue at the West is 60 per cent greater than last
The exports for the week ending
this evening reach a total of
111,757
year, aud the exports have increased nearly as much.
bales, of which 59,427 were to Great Britain, 22,415 to
Beef and
beef hams were firm and more active.
Butter and cheese close France, and 29,915 to rest of the Continent, while the stocks as
made up this evening
are now 699,051 bales.
Below are the
with a better demand at full prices.
Stearine
tallow
...

and

also

stocks and exports for the week, and also for the

quite salable.
aggrega e

The following is a comparative summary of
exports from principal ports, Nov. 1st to Djc. 7th:
1878.

Pork. lbs.

1877.

Lard, lbs......

0,UlJ,«OO
81,399,141
38,5)6,432

Total, lbs

...128.960,173

Bacon and hums lbs.

..

5,812,800
4?,9?1,3'8
29,135,029

82,919,187

week of last
Week

*

Dec.

33,4*7.783

the

sal^s

of the week

are

limited

46,010,936

11,750

9,032

....

9,262
8,055
16,185
4,665
2,301
7,209

N. York.
Norfolk-

751 cases, as follows :
440 cases 1877 crop, Pennsylvania,
10@18c.; 219 cases 1877 crop,
New England
7@20c.; and 22 cases 1877 crop, Ohio, private
terms.
Spauish tobacco less active, though a fair business is
reported, including 550 bales of Havana at 83c.@$l 10.
The business in Brazil coffees has
latterly shown an

France.

13. Britain.

Sa van’ll.
Galv’t’n-

to

Other*..

....

Conti-,
nent.

6,571
2,355

3,156

29,915

111,757

4,635

3,333

8,122

3,039

626

485

....

....

....

STOCK.

Same
Week
1877.

27,353
2,355
20,238
16,023
27,3 46
5,776
2,301
10,365

10.976

....

Total
this
Week.

corresponding

1878.

1877.

58,068 245,496 251,881
8,242 54,957 50,257
17,230 .81,806 75,427
10,532 73,263 104,403
8,550 105,690 91,067
9,243 73,279 91,447
12,950 29,555 23,159
9-, 123 35,000 56.000

1

Tot. this
week..

59,427

22,415

133,933 690,051 743,641

Tot. since

improve¬

Sept. 1.

and prices have become more
steady; fair cargoes being
quoted at 14@l4*c., gold. Stock here in first hands, 73,331
bags.
Mild grades have also received more
attention, the late sales in
ment,

Great

N. Orl’ns
Mobile..
Oharl’t’n

9,411,403

Kentucky tobacco has been quiet, and the sales for the week
are only GOO hhds., of whijli 450 were
for export and 150 for hoa e
consumption. Prices, owing to the dulness, are slightly lo ver.
Lugs are quoted at 2*@5c., and leaf 5*@12c. Seed leaf also quiet,

and

EXPORTED TO—

ending

Increase.
3,201,80)

season.

•

701,910 124,283 323,922 1150,115

The exr>ort8 this
more, 1,912 bales to

weeK

871,825

......

under the head <>r • otner
p *-t8” >n«nudH. rron Baltlbale3 to Continent; from
Boston,

Llverpoo’, and 500

bales t. Liverpool; Horn
Philadelphia, 2 454 bale3
mington, 2,630 DaleitoC ulinenc.

to

Live p)0.;

2,843
from Wil¬

eluding 36,4C6 mats Java (sold previous to arrival), 4,000
In addition ti above
Maracaibo, 1 233 bags Mexican, at current rates; 2,300 bagsbags
exports, our telegrams to-night also give
S
us the
following amounts of cotton on shipboard, not cleared, at
Domingo are in transit to Europe. Rice sells in a good j
ibbiog the ports named. We add also similar
way at late figures. Foreign molasses continues dull and nomin
figures for New York,
ally unchanged ; 50 test refining being quoted at 30@32c. New which are prepared for our special use by Messrs. Carey, Yale &
Lambert, 60 Beaver street:
Orleans grades have bjen more active at
28@40c., the latter for
.

choice, and is now considered extreme. Refined
sugars at the
close were quiet and weak ; standard crushed
quoted
at 9±c. The
business in raw grades has been of more liberal

On

Dec. 13, at—

proportions,
though values have been irregular, quiet, and weak ; fair to
good
refining quoted at G|(26$c.
Bhds.

Stock Dec

1. 1*7$

45,572

Receipts since

9,413

Sales since
Stock Dec. 11..1878

13,335
41,650

Stock Dec. 12, 187.'

Boxes.
10,355
1,4 3
613

11,265

Bagg.
328,639
53,3!6
23,598
358,357

New Orleans
Mobile

Melado.
2,010

Savannah
Galveston
New York

520

Total

stores

declining and clo;es

bble., quoted here

weak

France.

25,000
6,050
11,000
23,359
1,704

35,000
8,000
2,500

at

67,113

j-iAiuuuuu. m tuw

aimmub

Other

Foreign

with the

Leaving

Coast¬
wise.
100

83.100

None.

20,450
33,500

7.838

6,400
18,000
8,534

672

100

54,010

56,034

tuere urc

Stock.

Total.

23,000

162,400
34,507
39,768

2,000
3,413

43,144

62,546

None.'

*6,519

66,760

186,713

365,981

5,513

Mates at Jrreases ior

ports, the destination of which wc cannot learn.
From the foregoing statement it
will be

turpentine,

on tbe con¬
29c. Petroleum
presents & very demoralized position ; the
export demands are
quite limited, and the stocks on hand burdensome; then
again
the Creek advices are more or less var
able and
easy ; refined', in

trary, has been

....

Shipboard, not cleared—for

pool.

2,530

41,746
18,557
172,460
13
have continued of a
very moderate character;
rosins are inclined to remain
steady, commou to groi strained
being quoted at $135@$140; spirits
Naval

Liver¬

that, compared

seen

corresponding week

of last season, there is a decrease,
in the exports this week
of,22.181 bales, while the stocks
to-night
are 44,590 bales less than
they were at this time a year ago. The
following is our usual table showing the movement of cotton at
all the ports from
Sept. 1 to Dec. 6, the latest mail dates:

8£c., though re-sales can be bad at
Sfc.
quoted somewhat lower at $42
RECEIPTS SINCE
50@$43 at
EXPORTED SINCE SEPT. 1 TO—
tide-water; ?ales latterly of 20,000 ton*, for
SEPT. 1.
Ports.
West¬
local,EisteriL
ern, and Southern deliveries.
Great
Stock.
Other
Pig tin is essentially lower, in
1878. I 1877.
Britain. France. Foreign Total.
sympathy with the foreign markets ; straits quoted
at 15i@15ic.,
and English at,
N.Orlns 335,137 446,850
14£^15*-(\, gold. Ingot copper has advanced
85,590 32,899 81,616 200,105 187,298
a
trifle, with 150,000 lbs. Lake sold at 16c. Clover see l Las
Mobile. 130,516 153,428
been
10,134
5,043
4,562
19,739 40,276
more active at
7(57^., and timothy sold at $125. Whiskey Char’n*' 311.819 237,553 79,460
25,661 56,679 161,800 83,151
closed at $1 09*.
J Sav’li.. 412,954 297,124
111,088
Steel rails

are

at

now

|

.

Ocean freights have
latterly shown much weakness, more par¬
ticularly in the matter of berth room
accommodations; charters
are not
materially changed. The movement for the week has
been very satisfactory.
Late engagements and charters include :
Grain to Liverpool, by steam, 6
i., per standard bushel;
cotton.*- \
per lb., bacon, 30s. per ton; cheese, 37s.
6i.@40s. per ton; gram,
by sail, 63.; do., to Londou, by steam,7f 3.;
bacon, o5<.; grain, by
sail, 5s. 3J.

flour,2s. per bbl.; grain, to Hull,
do., to Cork, for orders, 5s. 9d. per qr.; do., to Havreby steam, Sd.;
or
Antwerp,
5s. 2*d.; do. to Cette or
Marseilles, 5s. 6d.; refined petroleum to
Bremen or Autwerp, 3-«. 61.; do., in cases
to
Constan.inople, 29c.,
gold; do., to Belfast or Dublin, 4s. 3d. per bbl.




perqr.;

Galv.*.

N. York •

Florida
N.

j

Car.!

Norf’k*
Other..

301,619
47,875
21,440

206,801
22,101

81,022

2,628
72,955

257,460

211,460

51,140

22,982

10,518
19,389

121,028
6,300
28,486
74,606
63,055

99,000

6,308

21,979
10,151

2,050

11,772

220,606|

137,487| 68,185

6,300j

42,308
,

8,248

66,993
114,784

74,606'

71.3031

15,352
24,477
22,000

Thisyr. 1950,932

642,483 101,868 294,007,1038,358 622,516
]
Lastyr
1673,882 487,101 119.466 131,320' 737.887 724.765
Unaer the head of Uharl&xto<i is included Port rfoyal, &c.; under tbe- head of
„

Galvetcon is mcluiei ladlanola.
&c.; under the head of Norfolk, is included Cliy
Point. «fec.

These mail returns do net
correspond

precisely with the total

CHRONICLE.

THE

1878.]

DEC2MBSR li,

telegraphic figures, because in preparing them it is always
necessary to incorporate every correction made at the ports.
There has been a sharp decline in cotton on the spot during the

o

f tlie

Quotations, which closed on Friday last

past week.

on

On Wednesday,
down to 8 13-lGc.
for export.
To-day, uplands were
For future delivery, there was on

nearly 2,00J bales were taken
steady, but Gulf £c. lower.
Saturday last a steadier tone
and a slight recovery of values, caused by a demand to cover
contracts, but a decfine began on Monday, under the reported
receipt of 59,000 bales at the ports (25,000 at New Orleans), and
the depression continued without relief throughout Tuesday and
Wednesday. Yesterday, there was a semi-panic, prices dropping
12@18 points under free offerings, but the Bureau report, esti
mating the crop at something under 5,200,000 bales, caused a
steadier closing, and some recovery from the lowest figures.
To-day, the market was excited, and, on a demand to cover con¬
tracts, the decline of the previous two days was recovered, except
for December, but the
close was tamer, and the liighe
figures of the day not fully supported.
The total sales for forward delivery for the week are 515,500
bales, including — free on board. For immediate delivery the
total sales foot up this week 4,323 bales, including 2,201 for export,
1,732 for consumption, 330 for speculation and
in transit. O
the above, 542 bales were to arrive.
The following tables show
the official quotations and sales for each day of the past week:

09.12 35
13.

Dec.

Sat.

Ordin’y.^lb

Mon Tues

Middling...

Good Mid
Str. G’d Mid
..

7*3io

8*16
8-16

838
8 34

8*16

8*16

8**16

8^8

815I6

878

81316

9*8

81*16
87g
0*16

9

9

9^8

9*16

Midd’g Fair 10*4

9 ”8

738

7*3i6

8**16

83s
8 34

87e

7*3ifl
8*16
8**16

8*%6

878

8*16
8**16
87s

9*16

9*16

9*8

95ig

9*4

9*4

9*16

9*16

9^10

9*8

99ig

9»ie

9*16
95s

9*4

93s

978

9916

9**16

978

9916

91516

978

978’

10*2
io**i6 101*16 11*4

11

Th.

Mon. Taes
73g

Frt.

77i«
77a

10716 107,6 10*2
113,6 11**16 11*4

1O:$J0 103jg

Wed

•

713i(5

7916

9**16

Fair

7716

778

79ig
8*16
8Ug
8*8
S1316

TEXAS.

Mon Tne» Sat.

738-

7*8

8*8
8*2

Sat.

73g

7*8

73ig
75q

Strict Ord..
Good Ord..
Str. G’d Ord
Low Midd’g
Str. L’wMid

NEW ORLEANS.

Wed

Th.

FrI.

9*4

10716 107io
113l0 11316

Wed

Th.

FrI.

Ordin’y.^Ib

7*16

Strict Ord.
Good Ord..
Str. G’d Ord
Low Midd’g
Str. L’wMiO

6*5ig

6151G

7*ig

7*2

7310

73s
778
8*4

7%

7*io

7B16

7%
8*4
8*8

75s

7*2

7%

73io

7*16

75b

7*2

8*8
8*2

8

83g

8*4
8*8

7*8
8*2

8*8

89ig

8'ig

8716

8i%«

8%

8^8

9

8**16

8910

85s

8*3io

878

8%

8**16
87e

8%

9*16

8**10

8

8^8

Middling...

77g

8*4

813ig

9316

9*16

9*4

8**16

9
9'* 16

9*8

9*8

9*8

938

9%

9*2

93s

99ig

971«

97ig

9i»16

9**16

99i6

9*310

9**16

8**16

Good Mid..
Str. G’d Mid

Midd’g Fair 10*8

10

10

Fair

10%

10%

10-8

1038
11*8

STAINED.

10*4

10*8

11

1078

Sat.

Good Ordinary....

lb.

Strict Good Ordinary.....
Low Middling

Middling....

0s

10*4
11

Toes Wed

7*4
7%
8*4

7*16
7*310
8*16
8**16

103s
11*8

7*4

7316
7**16
8316
8°io

734

8*4
8^8

85a

8

8916
9*4

99io
10*8
1078

Th.

FrI.

7*16
7%0
8*16
8716

7*16
7916
8*16
8710

MARKET AND SALES.

j

SALES OF SPOT AND TRANSIT.

sFot market

Ex¬
ConSpecport. sump. ul’t’n

CLOSED.

Sat.. Dull, lower
100
Mon
Quiet, lower
Tues. Dull
;...
wed .,Quiet,steady,low
500
Tliurs Ouiet, lower
1,401
Fri.
200
Quiet
.

m

m

m

m

m

m

m

m

115
435
394
174
297
317

.

Total

2,261

1,732

Tran¬

sit.

a

~

....

....

....

....

30

....

Deliv¬
eries.

57,200
93,000
05,000

400
700
400

82,000

1,098 122,300

120,400

2,400
1,000

4,323 545,500

4,900

547

....

330

Sales.

275
735
394
074

m-m

..

....

....

3,800.
2,000
2,200

....

..

...

700
100

...

1,300
1,300

..

..

....

1

911
912
913

3C0
1,500
1.10)

9-16
9-18

..

.

200
000

..

.

....

9-22
9 26

300

1,000
3,000
3,200
1,000

....

9-28 I
9-31

600

800

9-32

1,000

9-33
9-35
9 30

1,(500
1,500

-

900

1,100
1,900...

9-37

1,000
1,900

9-38
9-42

200

9*43

1,400

9-44

700
800..
700
100.
700..
300

940
947
948
9-49
9-50
9-51
9-53
954

.

100..
100.

....

...

.

..

....

....

....

...

...

.

For December.

Bale?.

Ct*.

300
400.
100
400

1,400

(500
(500

1,(500

100

200

400.

l 5(K)s.n.

8(55
8’(5(5
867
8-69
870
8 71
8'72
8-73
8-74
8’75
8'70
16th 8-30

400
300
900

1,500
‘

900
(500
100
100
200
300
300

800-.........
100
200 8.

1,200.

n.

....

600

...

,s

Pa’es.

6,100

6,000...
1,000.

.

4,900
4,100...
6.900...
4,500...
0,200. .*

8-91

0,300
2,700

..

9*0*
9-03
9 04

0,100

9-05

11,000




8-99

300

600
700
100

For January.
100
*8-74
1.900
875

8 96
8*97

9-00
9-01
9-02
1,100
9 03
0,000
9 04
4000.......... 9-05

300

2,<00.
1,400....
23,590

..

900

899
9 00

9 06
9 07
9-08

..

8*89
8*91
8*92
893
8*94

'900...

1,000

200.

8*87

200.
000...

3,700....

200s.n.l0:h 9-06

8-83
8*84

500...
200...
500...
(500...

8-S3
8-84
8-85
8”8-5
8-87
8’88
8'89

8-93
8-tf8

8*79
8*80
8*81

4,900...
3,400...
1,600...
3,*00...

8-82

8-92
8-95
8-96
8 97

|

9 00

4,200
10,100
3,900.

9 07

9 08
9 09
9-10
911
9-12
9-13

8,000.
4,90»V

9 14

1 500..

9-15
9-10
917

2,100

1,500.

lWoo

Fir K*
200

|

!
,

1,000.

8-86

..

8,200
5,000

.....

...

8 90
8*91

6,000...
5,400
1,500.

4,(500

2,000
1,L00
3,000

8*94

..

3,S00
15,300
7,800.
7,MOO
3,&00

8*99

...

...

.

....

....

...
..

9*07
9-08
9-09

2,400
6,300
8,400
7,500
0,700
13,000

901
9*02

j

3,700....

0,500..

9*09

l.lOO.
9(H).

9 10
911

0.100.
0.300....

9* 12

2,300

..

2,700
2,000
1,500
1/00
2,900
5,000

1,300
3,800
6,000

.

...

9*13

9*14
9*15
9*16
918
9'19
W20

9*21
9*22

3,400....
700

9*23
9*24
9 25
9-2(5
927

1 10()

9*28

1,200

9 29

10,600
5,000

137,100

4,400.

..

9-21
9*22
923
9-24

..

1,800.
5.700....

000....

300....

1,100

133,900

....

9-55

200....

2,700
1,000

9 50
9-58

300

2.200
300.....
200
100

9 59

....

200........
..

1,200
0 0
200
400.
400

9(50
9-01
9 65

.

9 59

7<10.

2.000

..

..

..

.

9(50
961
902
9*05
9-00
907
908
9-09
9 70
971
9-72
9-73
974

5,400

9’75

1,600

For August
100
300
100
(500
2)0
100
200

0*00

9*67
9(53
9*69
9*73
9*74

9*75

following exchanges have been made during the week:

•12 dO. to excli. 200 Jan. for 1 eb.

The

|

*23

p

1. to exeh. 930 Jan. for Mar.

following will show the closing prices bid and asked for
of the market, at 3 o’clock P. M.,.

future delivery and the tone
on each
day in the past week.

MIDDLING UPLANDS—AMERICAN CLASSIFICATION.

jSat’day
Market— Steadier.
Bid.

Decemb’r

January..
February
March.

..

Ask

0*03 ©04
y*i2®i3
9‘24® 25
9*36®37

Mond’y T’sday.
Easier.
Bid. A'k.
9*02® 03
9*08® —
9*19® —
9*30®31

April.... 9*48®
9*59®00
May

9*42®

—

9*55®

—

9*70® 9 *78® 80
July
August... 9'83®85
Tr. orders
9*05
Firm.
Closed—

9‘04®65
9’73®74
9*78® SO
9*05
Weak.

—

June....

.

Gold

100*8

Exch’nge

4*80

100*8

Lower.
Bid

Ask.

8 *95® 96
9*00®01
9*11® 12
9*23® —
9*34®35
9-47®48
9*58®59
9'65®67
9 *72® 75
9-00
Weak.

100*8
4*81

4*81

The Visible Supply

Wed.

Thurs.

Friday.

Lower.

Panicky.

Buoyant.

Bid.

,tv*.

8-80®S7

Did.

Did.

Ask

9 *75® 70

8*842)35
8-952)96
9*062>07
9*28® — 9*182)19
9"40®41
9*302)31
950®51 9*392)40
9*59®01
9*4872)49
9*60® 68 9*522)55
8*90
9-80
Weak.
Unsettled
8*93® —
9 *04® 05
9-10® 17

100*8
4*81

9-41®
9*51®

9*60®
9*65®
8*85
Dull.

100*8
4*81

Ask.

8*832)
8*962)
9*062)
9*18®
9*29®

—
—
—
—

—
—
—

—
—

100*9
4*81

"

Cotton, as made up by cable and
telegraph, is as follows. Tlie Continental stocks are the figures
of last Saturday, but the totals for Great Britain and the afloat
for the Continent are this week’s returns, and consequently
brought down to Thursday evening; hence, to make the totals
the complete figures for to-night (Dec. 13), we add the item of
exports from the United States, including in it the exports of
Friday only:
of

Stock at London.

Stock at Havre
Slock at Marseilles
Stock at

1878.

1877.

1876.

324.000

300,000
17,500

488.000

360.500
80,750
1,500
7,500
2,500
10,250

323,500

532,500
139,500

20.000

(5,750

42,500

Hamburg...

Stock at Bremen
Stock at Amsterdam.
Stock at Rotterdam..
i.

Total European stocks..
0
e

Stock in United States ports
Stock in U. S. interior ports..

Total visible
Of tlie above,
follows:

44,500

535,500
103,750
2 250

22,500

39,000
8,750
40.750
45,750

5,500

8,500
3,750
5,750

12,250
9,250
14,000

48,000
14,500
29,750
50,250
10,000

148,500

233,500

312,250

331,000

515,000

557,000
40,000
490,000

844,750
108,000

866.500
110,000
638,000
81.000

79,000
632.000
20,000

6)9,051
101,457
-

108.250

1875.

482,000
53,500

•

3,000

1,750

19,000

3,750
35,000

7,500
38,500

49,000
743,011
107,053
18,000

505,000
05,000
959,310

135,417
29,000

5,500

7,000

708,074
117,643
18,000

supply.bales. 2,125,508 2,005,294 2,700,477' 2.545,217
the totals of American and other descriptions are as

American—
.

.

.

.

.

Total American

192,000
106,000
632,000

699,051
161,457
19,000

143,000
169,000
490,000

220,000
191,000

743,641

565,000
959,310

107,653
18,000

135,417
29,000

165,000
126,000
638,000
708,074
117,643
18,000

bales.l,809,508 1,671,294 2,099,727 1,772,717

hulian, Brazil, <£c.—

London stock.

.

.

.

Egypt, Brazil, &c., afloat..

1,800
5.200....
4.800....
7.400....
3,400....
3,000....

9 50

500

1,100

9-52
8-54

..

3.800....

9*? 5

800
400

.

9-28
9-29

954

*

30,300

The

East

...

100....
300....

9 52

500...

400......

23,(500

500
200
200
200
300.
100.
000
200

9 50

700
100
800.

Contiuental stocks
American afloat to Europe..
United States stock

..

1,200

9-40
947
9'55
950
957
9-00
9 61
9-63
9-64
9(55
9(50
9*70
9*75
9*83

1,000.

9*49

....

July.

100
300
100
400

2,400

1,900..

Liverpool stock

900
700...

906

.

9*08

904

2 800
300
800
200

....

3:0....
300
100
100
100

1,300
3,000

.

..

9-49

United States exports to-day.

5,200

....

....

9-50
9-51

.

..

1,000
1,100..
5,300

niarv.
....

For March
Bale?.
cts.
800
8*93

Cts.
...

....

200.

).

Cts. I Bales.
300.

..

....

2,000
1,300.

For forward

delivery, the sales have reached during the week
545,503 bales (all middling or on the basis of middling), and the
following is a statement of the sales and prices:

....

100.
300

2,500

948

..

.

Far

700

300

9-44
9*45

1,100

....

...

23,900

9*35
9*30
9 37
9 38
9*39
9 40
941
942

...

100
300
500
50(1
300

CtS

9*76

934

....

1,000

9 43

9-46
9-47

9*30

....

100

Bale*.
200

.

....

2,000

9-30
9-31
9-40 I
9-41
942

300
100

.

200
700....

9-29

....

2,000
1,100
2,500
1,900

9*29

...

....

....

.

1,000..

923
924
9*25
9-20
9-27
0-23

....

..

3,400.
700
500
200
400
200.

.

9-22

...

400
700

915

For Juu^.
Bales.
Cts
200
9-29

9-20

....

FUTURES.

Total.

300

For May.
Bales.
CtS.
400..

cr.<.

700
2.500
200

the basis

of 9&c. for middling uplands, were reduced 1-16c. on Saturday
and again on Monday, and again on Wednesday.
Yesterday,
there was a further decline of £c., carrying middling uplands

UPLANDS.

For April.

Bales

631

.

132,000
42,500

42,500
79,000
20,000

163,000
17,500
64,500
40,000
49,000

268,000

317,000

44,500

53,500
205,000
116,000
81,000

121,250
108,000
65,000

606,750
334,000
316,000
772,500
.1,809,508 3L ,671,294 2,099,727 3L,772,717
.

9*37
938

9-39
9-40

Total visible supply
Price Mid. Upl., Liverpool

2,125,503 2,005,294 2,706,477 2,545,217

47gd.

6%e(h

6%6<b

-

7d.

figures indicate an increase in the cotton in sight to-night
of 120,214 bales as compared with the same date of 1877, a
decrease of 580,909 bales as compared with the corresponding date
of 1876, and a decrease of 419,709 bales as compared with 1875
These

632

THE CHRONICLE.

At the Interior Ports the movement—that is the
and shipments for the week, and stocks to-night, and

receipts
for the

corresponding week of 1877—is set out in detail in the following
statement:

Week

ending Dec. 13,

Receipts Sliipm’ts
Augusta; Ga....
Columbus, Ga...
Macon, Ga
Montgomery, A1
Selma, Ala
Memphis, Tenn.
Nashville, Tenn..

’78'

Stock.

Week

ending Dec. 14, ’77.

7,828
3,879
2,597
6,044

7,249
2,560
2,052
4,855

5,600

5.784

26,245
2,808

17,004

Total, old ports.

55,001

41,670 161,457

54,364

Dallas, Texas....

2,173
1,162

2,370

2.807

807

2,554

3,220
2,000

3.372

2,593
5,091

10,367

7,701

5,664
6,995
3,156
2,686
9,362
5,875

8,384
2,105

Jefferson, Tex.
Shreveport, La
Vicksburg, Miss
Columbus, Miss..
Eufaula, Ala
Griffin, Ga
Atlanta, Ga
Rome, Ga
Charlotte, N. C...
St. Louis, Mo
Cincinnati, O
..

..

2,166

6,903
1,347

.

977

20,431
5,549
12,426
15,255
86,747
8,886

2,010

1,897

3,138
2,387
2,211

3,201

856

963

711

15,967
11,667

12,556
10,100

40,951
6,454

984
136

7,946
4,145
2,825
7,115

12,163

6,605
3,127
2,562
5,093
19,863
4,100

22,861

3,780

46,453 107,653
1,881
1,778
6,548
7,489
1,050
1,997

1,997
678

374

5,622
3,621
3,680
12,708
8,325

8,947
2,246
3,368

i

15,480
11,615
9,478
13,326
8,037
45,877
3,840

5,103

5.692

8,762
6,920

3,500
1,400
8,570
*

ranged from 48 to 72, averaging 61.

The rainfall

has reached eighty hundredths of an inch.
New Orleans, Louisiana.—We have had rain on three days
the past week, the rainfall reaching one inch and fifty-five hun¬
dredths.
The thermometer has averaged 54.

Shreveport, Louisiana.—The weather during the week has
coming in freely. Average ther¬
mometer 53, highest 71, and lowest 36.
The rainfall has reached
one inch and
eiglity-eight hundredths.
Vicksburg, Mississippi.—The thermometer has averaged 54
during the past week, with an extreme range of 36 and 69. It
has rained on three days, the rainfall reaching three inches and
forty hundredths*. Planters are marketing their crops rapidly.
Columbus, Mississippi.—Telegram not received.
Little Rock, Arkansas.—There have been but two clear days
the past week, rain having fallen on Sunday and
Thursday.
Average thermometer 42, highest 61, and lowest 28. The rain¬
fall has reached one inch and twenty hundredths.
The cotton
crop of this“section is about all gathered, and what remains is be¬
ing rapidly marketed.
Nashville, Tennessee.—Rain has fallen on four days of the week
just closed, the rainfall aggregating two inches and ninety-four
hundredths.
The thermometer has ranged from 33 to 49, aver¬
aging 41.
been favorable and cotton is

Stock.

Receipts Shipm’ts

mometer has

[Vol XXVII.

4,036

4,214
5,125
1,603
13,406
4,572
2,036
23,874
5,666

Mobile, Alabama.—It has been rainy the earlier part, but
pleasant the latter part of the past week. It was
showery two days, rained severely one day, and rained con¬
stantly one day, the rainfall reaching two inches and eightythree hundredths.
The thermometer has averaged 54, the
highest being 69, and the lowest 38. The tributary rivers are
clear and

Total, new p’rts
Total, all

51,193
106,194

The above totals

41,675

97,672

60,041

83,345 259,129

114,405

show

that

the

old

51,360

78,012

97,813 185,665

interior

stocks

have

increased during the week 13,331 bales, and are to-night 53,804
Dales more than at the same period last year.
The receipts at the
same towns have been 637 bales more than the same week last
year.
Receipts
In

from the

Plantations.—Referring to

previous issue for an explanation of this table,
;lie figures down one week later, closing to-night:
a

RECEIPTS

Week

Receipts at the Ports.

end’g-

1876.

Sept 6.

1877.

1876.

20,760
23,431

19,733

5,855

26,750

41.457

12,109

<(

20.

44

27.

62,998
15,845
122,199
136,074
152,820

22,345
43,128
70,040
109,264

47,431
74,355
98,863
130,990

148,158

135,054

160,233

Oc t. 4.
41

11.

44

1*.

44

25.

Nov.l.
44

8.

k

15.

44

22.

44

29

Dec. 6.
K

13.

174,617 157,609
201,904 177,336
211,810 198,176
205,606 194,571
211,823 200,580
204,879 1722!6
187,733 174,365
196,436 202,805

23,904

38,83?
57,048
72,277
84,871

162,236 103,774
157,280 123,652
182,874 138,111
176,004 157,361
181,376 180,519
184,625 197,131
220,748 213,722

1877.

1878.

16,449
9,979
16,272 18,971
15,104 26,377
20,510 37,872
29,720 47,208
41,891 59,823
58,745 79,597
80,374 97,887
105,814 115,034

126,620 149,498
132,401 174,583
136,941 188,491
157,0S2 205,912
169,073 236,280
220,291 224J2o 185,665 259.129

This statement shows

remarks
bring

higher.
Montgomery, Alabama.—The earlier part of the week was
rainy, rain having fallen on four days, but the latter portion has
been clear and pleasant.
We have had killing frosts on two
nights. Average thermometer 52, highest 70, and lowest 33.
The rainfall for the week is two inches and thirteen hundredths.

Selma, Alabama.—During the earlier part of the week it rained
three days, but the latter portion has been clear and pleasant.
Snow fell on one day, heavy rain following.
Madison, Florida.—It has rained on one day the past week,
the rainfall reaching seventy hundredths of an inch.
The ther¬
mometer has averaged 51, the highest point touched
having been
62, and the lowest 40. We had a killing frost Tuesday night.
Macon, Georgia.—Rain has fallen on one day the past week.
The thermometer has averaged 53, the extreme range having
on

PLANTATIONS.

[stock at Inter ’r Ports

1878.

13.

It

FROM

our

we now

,

Rec’pts from Plant’ne.
1876.

1877.

1878.

18,866

5,885 26,750
11,932 47,431
62,998 21,177 74,355
95,845 43,128 98,863 been 33 to 65.
Columbus, Georgia.—We had rain on one day and a slight snow¬
122,199 70,040 130,990
136,074 109,264 148,158 fall on one day during the past week.
The thermometer has
The rainfall is fifty-four hundredths of an inch.
152,820 135,054 160,233 averaged 30.
Savannah, Georgia.—It has rained on three days, the rainfall
174,6 7 157,609 162,236
201,904 177,336 157,280 reaching two inches and twenty-four hundredths, but the rest of
the week has been pleasant.
Average thermometer 54, highest
211,810 198,776 182,874
205,606 194,571 176,004 73, and lowest 39.
Augusta, Georgia.—During the earlier portion of the past week
211,823 200,950 181,376
we had
heavy and general rain on three days, the rainfall reach¬
204,879 172,216 184,625
The latter part has
187,73-3 174,365 220,748 ing one inch and twenty-five hundredths.
been clear and pleasant, the thermometer
averaging 48 during
196,436 202,805 220,291
the whole week, and ranging from 33 to 65.
About three
41,457

us that the
receipts at the ports the past
220,291 bales, received entirely from plantations.
Last year the receipts from the plantations for the same week
were 202,805 bales, and for 1876
they were 196 436 b^les.

quarters of the crop of this section has been marketed, and
planters are sending cotton to market freely.
Charleston, South Carolina.—It has been showery three days
of the past week, the rainfall reaching one inch and
thirty-oneWeather Reports by Telegraph.—There was considerable hundredths. The thermometer has averaged 52, with an extreme
range of 37 and 67.
rain the first half of the past week in
many portions of the South,
The following statement we have also received by
telegraph
with some snow at a few points ; later in the week the weather
showing the height of the rivers at the points named at 3 o’cldSk
was generally fair.
Picking is now closing up rapidly every¬ Dec. 12, 1878.
We give last year’s figures (Dec. 13, 1877) for
where, this having been one of the best picking seasons for a comparison:
Dec. 12, ’78. Dec. 13, ’77.
long time.
Feet. Inch.
Feet. Inch.
Galveston, Texas.—We have had showers on three days, but
.Below higli-water mark
13
0
8
8
week

were

..

.Above low-water mark...
.Above low-water mark...
.Above low-water mark...
Above low-water mark...

the balance of the week has been
in this section has now been

pleasant. About all the crop
secured, and what little is left in the

fields will 'be picked

next week. Average thermometer 62,
highest 71, and lowest 41. The rainfall for the week is fifty-two
hundredths of an inch.

20
10

4
8
3
10

5
21

12
0
23
25

1

9
4

8

New Orleans

reported below high-water mark of 1871 until
Sept. 9, 1874, when the zero of gauge was changed to high-watei
mark of April 15 and 16, 1874, which is 6-10ths of a foot above
1871, or lb feet above low-water mark at that point.

Indianola, Texas.—There have been showers here on two days,
we are
Comparative Port Receipts and Daily Crop Movement.—
needing more. About all the crop of this section has
now been picked.
The thermometer has ranged from 41 to 70, A comparison of the port movement by weeks is not accurate,
as the weeks in different
averaging 61. The rainfall is fifty hundredths of an inch.
years do not end on the same day of tlieCorsicana, Texas.—It has rained on one day of the past week, month.
We have consequently added to our other standing,
a shower, the rainfall
reaching forty-eight hundredths of an tables a daily and monthly statement, that the reader may con¬
inch.
Picking is about finished. The days have been warm, but stantly have before him the data for seeing the exact relative
the nights have been cold, the thermometer
averaging 54, and movement for the years named. First we give the receipts at
ranging from 35 to 73.
each port each day of the week ending to-night.
and

.

Dallas, Texas.—We have had delightful showers on three days
this week, and the indications are that
they extended over a

PORT RECEIPTS FROM SATURDAY, DEC.

D’ye New
Or¬
of
still needing more for wheat, as the
weather is so unfavorable.
Much seed planted has failed to come we’k leans.
up.
There is now very little cotton in the fields, and picking Sat.. 6,558
will finish next week. The season has been the best
ever known 1 Mon 25,468
for cotton-picking, and worse for
wheat-planting.
Average
ther¬ Tues 11,232
mometer 54, highest 73, and lowest 35.
The rainfall for the Wed 13,204
week is
wide

surface; but

we

are

seventy-eight hundredths of an inch.,
Thur
Brenham, Texas.—There have been delightful showers on Fri..
three days of the past week,
apparently extending over a wide
area, but not enough yet.
Picking is about finished. The ther¬ [ Tot..



Mo¬

bile.

2,614
7,787
1,866

7, ’78, TO FRIDAY, DEC. 13, *78.

Char¬ Savan¬ Galleston. nah. vest’n.

Nor¬

folk.

Wil¬

ming¬
ton.

•

All

others.

Total,

2,494
3,115
3,305
2,885
2,818
2,184

25,563
58,561
892 2,030 28,693
248 2,502 30,836
674
670 30,614
141 13,088 46,024

75,162 26,923 22,458 26,197 26,316 16,801

2,907 23,527 220,291

9,659
9,041

2,656
4,766
7,234

3,036
4,719
3,438
2,248
3,309
5,708

4,270
5,562
3,746
4,427

4,113
4,079

3,368

8,944

2,184
2,666

4,605
4,549

498
454

2,725
2,512

December
r

THE

14, 1678.1

The movement each

1878.

Receipts.

Sept’mbT

288,848

October..

Novemb’r

689,264
779,235

Tot. year.

'1,757,347

Perc’tage of tot. port
receipts Nov. 30 ..

■■■■"

Beginning September 1.
1876.

1877.

236,868
675,260
901,392

98,491
578,533
822,493

1873.

1874.

1875.

169,077
610,316
740,116

134,376

115,255

536,968
676,295

355,323
576,103

1,499,517 1,813,520 1,519,509 1,347,639 1,046,681
44-91

34-50

27-51

38*53

36-25

statement shows that up to Dec. 1 the receipts at the
ports this year were 257,630 bales more than in 1877 and 56,173
hales less* than at the same time in 1876.
By adding to the
above totals to Dec. 1 the daily receipts since that time, we shall
be able to reach an exact comparison of the movement for the
This

different years.
1878.

1873.

1874.

1375.

1876.

1877.

Tot.Nv.30 1,757,349 1,499,517 1,813,520 1,519,509 1,347,639 1,046,681
S.

23,337

2..

39,978

S.

“

3....

“

4....

40,894
23,532

5....

30,938

40,703
27,179
20,766
36,219
31,300
22,784

Dee. 1
“

—

“

6....

“

7...,

58,291
25,563

“

8....

S.

58,561
28,693
30,836
30,614
46,024

“

9....

“

10....

“

11....

“

12....

“

13....

Total

S.'
47,969
35,846

25,895
39,011

Percentage of total
This

30,824
21,039

22,842
26,301

S.

20,856

41,873
31,662
32,325
24,767

35,581

33,072
26,981

26,812

S.

25,918

42,863
29,247
29,426

20,3S5

S.

24,517
28,921
19,114
34,055
31,842

,

S.

30,511
29,087

41,726
22,952
26,534
26,509
23,977
37,015

22,943

S:

S.

49,512

20,472
26,081
22,843
23,275
28,248
25,008
S.

40,210
26,645

27,632
22,371
33,111
23,023

2,171,273 1,848,576 2,160,649 1,830,257 1,669,801 1,365,600

port receipts

Savannah Department.

month since Sept. 1 has been as follows:
Year

Monthly

■■

-

—

■

•t

statement shows

47*75

43-07

53-51

42-53

633

CHRONICLE.

35-89

that, the receipts since Sept. 1 up to

to-niglit are now 322,697 bales more than they were to the same
•day of the month in 1877, and 10,624 bales more than they
were to the same day of the month in 1870.
We add to the last
table the percentages of total port receipts which had been
received Dec. 13 in each of the years named.
Agricultural Department Cotton Crop Report.—The

This report covers the State of Georgia and the State of Florida. The report
is prepared and issued by the Savannah Cotton Exchange, through their
Committee on Information aud Statistics, composed of J. II. Johnston,
Clavius Phillips, J. J. Wilder, L. G. Young and F. R Sweat.

Georgia.—80 replies from 49 counties.
The weather for gathering the crop the past month, and, in fact, during the
whole season, has been very favorable, enabling the farmer to house it quicker
and in much better condition than last year. Many have finished picking, and
but little will remain iu the fields after the loth of December ; fully seven-

eighths of the crop had been picked 1st inst. and nearly three-quarters mar¬
keted. In Western and Southwestern Georgia the best crop in many years is
reported; in most of Middle Georgia the croD is about the same as last
On the whole,
year, while in Northern Georgia they are short of last season.
however, the yield of the State is 10 to 12 per cent greater than last year. The
reports of the product of the top crop, or second growth, differ widely ; in some
sections the yield from it has been large, while in others the expectations of
a month ago were not realized.

Florida.—13 replies from

10 counties.

The weather for gathering the staple was fine the past month, m">re favor¬
able than last year; the crop was nearly all gathered, and more thau half of
it marketed.
The yield of the State will exceed last year by about 10
per cent.
The seasonable weather during the year caused the bolls to
grow larger and mature better, and the result has been a heavier and stronger
lint. In the Sea Island sections they have had during the whole year nothing
but a series of disasters, commencing with a cold, wet spring, remarkably
hot weather in June and July, mins and caterpillar in August, and gales in
the early part of September.
The yield of long cotton will be fully 15 per
cent short of last year.

Mobile

Department

of Alabama as far north ns the summit of the Sand
Mountains,and the following counties in Mississippi: Wayne, Clarke, Jasper,
Lauderdale, Newton, Kemper, Nesholso, Noxubee, Winston, Lowndes,
Oktibiba, Colfax, Monroe, Chicasaw, Itawamba, Lee, Pontotoc, Prentiss,
Aleorn and Tishamingo. The report is prepared and issued by the Mobile
Cotton Exchange, through their Committee on Information and Statis¬
tics, composed of T. K. Irwin, chairman, Julius Buttner, A. M. Willmarth, J.
the

covers

State

C. Bush and S. Haas.

Alabama.—61 replies from 34 counties.
generally more favorab.e for gathering the crop thau
during November of last year, and picking is about, completed.
The yield,
as compared with last year, is estimated to be
18 per cent less in 17 counties
17
and
per cent, more in 17 counties.
About 53 per cent of the crop on an
average is reported as having been marketed.
The weather has been

Mississippi.—26 replies from 17 counties.

,

The weather has been more favorable than last year

during November f»,r
gathering the crop, and picking is about completed.
Three counties report
an average increase in yield of 9 per cent over last year, 3 report the same,
aud tl an average decrease of 26 per cent. About 16 per cent of the crop is

reported

as

having being marketed.

New Orleans Department.
that part of the State of
and Mobile Cotton Exchanges;

•estimate of the cotton crop.

Mississippi not apportioned to the Memphis
the entire State of Louisiana and the State
of Arkansas, south of the Arkansas River.
Tlie report is prepared and
issued by the New Orleans Cotton Exchange, through their Committee on

thus making the crop of 1878, in round numbers,
5,197,000 bales of cotton, allowing 450 pounds as the weight of

less. About one-half of the crop has been m trkered.
this State general y agree that the comparative yield
much less ihan the average of any previous year.

covers

Department of Agriculture have this week issued the following
It requires no explanation, as the Information and
Statistics, composed of Wm. A. Gwyn, Chairman, R. L.
Moore, Jesse S. Flower. John M. Witherspoon, J. M. Frankenbush, L. F.
department gives its own conclusion clearly.
Berje, Cyrus Bussey, Jules Mazer at.
Department op Agriculture, )
Louisiana.—38 replies from 24 parishes, bearing dates from
Washington, D. C., December 12.
\
}
From the returns received this month at this department, we Nov. 28 to Dec. 4. The weather has been much more favorable than for the same period last year.
are enabled to make the final estimated computation of the crop
has progressed finely, and about seven-eighths of the crop is gathered.
of cotton raised this year.
The acreage is about 2 per cent Picking
It is estimated that the picking will be completed by Dec. 15.
The yield in
greater than in 1877, an amount not large enough materially to the river parishes is estimated at about 2j per cent less than last year, while
affect the total product, being only 209,503 acres.
The October in other portions of the State there has been an average increase of about 18
About 69 per cent of the crop his been marketed.
There has
and November returns showed a condition 11 per cent higher percent.
been a universal complaint that the seed cotton this season yields much less
than the same month? last year.
Owing to remarkably fine lint than usual.
weather for picking, which has lasted to (late, the yield of lint
Mississippi.—58 replies from 25 counties; average date Nov. 30.
per acre is much higher than in 1877, only three States report¬
The weather for November was much more favorable than during the sam e
ing less, viz.: Florida, Alabama and Louisiana, while all the oth¬ month last year. Picking has progressed quite rapidly, and will be completed
ers report an increase.
The average production for 1878 is 191 by Dec. 20. The yield, compared with last yeir, is reported about one-third
lbs. per acre,

a

bale.

December.—We publish
these reports to-day in full, but attempt no analysis of them, as
•it is impossible to draw any exact conclusion from the data
given. The general interpretation made here, however, is that
-they indicate no increase of the crop over last year.
Norfolk Department.
Cotton

Exchange Reports for

The Norfolk Cotton Exchange (H. S. Reynolds, Chairman, W.
and R. P. Barr}', Committee on Information and Statistics) issues

D. Rountree
the following

Arkansas.—26
Dec. 1.

Louisiana and Mississippi, relative to small yield of lint compared with
reiterated by most of our Arkansas corresDondents.
Note.—Estimates from all the States are based on same acreage as last year.

seed cottoD, are

Galveston Department
covers

ton and Halifax.

Chas. Kellner.

North Carolina and
in North Carolina and

Virginia.—22 replies from 16 counties

Virginia.

month of November

Six report the weather for gathering cotton during the
favorable as last year, while 16 say the weather was more favorable. About
S3 to 90 per cent of the crop has been picked, and picking will be finished
Five replies report the yield about the same, 4
about the 10th of December.
•about ten per cent more, and 13 say the yield is from 25 to 30 per cent
than last year.
On an average about three-quarters of the crop
marketed.
as

less
has been

Charleston Department
the State of South Carolina, and is
■Charleston Cotton Exchange, through their

•covers

•Statistics, composed of Robert

prepared and issued by tbe

Committee on Information and

D. Mure, Chairman, L. J. Walker and A. W.

Taft.

South Carolina.—53 replies from 26

counties.

November is reported by all but two corres¬
pondents as more favorable thain last season. Several counties report entire
picked, but no county being really backward.
The average for the State is
90 per cent. Picking will be finished generally by 15th instant. The yield is
reported more in lfcounties, less in 8, and about sime in 8; average of the
State shows an increase of about 2 per cent compared with last year. The
proportion of crop sent to market up to Dec. 1 was from 50 to 90 per cent; the
average for the State is 78 per cent.
The crop is remarkably free of froststained cotton, and yield, with the exception of a few counties, very goed.

the State of Texas,

and was prepared and issued by the Galveston Cotton

Exchange, through their Committee on Information and Statistics, composed
of J D. Skinner, Chairman, H. J. Anderson, J. M. Kirwan, P. Fitzwilliam,

Texas.—67

,

answers

from

57 counties, averaging

date of

Nov. 30.
Fifty-eight replies from 48 counties report the weather for picking this sea¬
favorable than last year, while 9 replies from 6 counties report less
favorable. In 52 replies from 46 counties the crop is reported as all picked;
15 from 11 counties rer.ort only one-half to three-quarters picked. The aver¬
age yield is reported 40 per cent larger than last year in 45 replies from 41
counlies ; the same as last year in 4 replies from 4 counties, ana 25 per cent
less than last year in 18 replies from 13 counties.
The replies from 30 coun¬
ties report 75 per cent of the crop marketed; 28 replies from 22 counties
report 50 per cent; 2 replies from 2 counties, Z'6% per cent; and 3 replies from
3 counties, 25 per cent—making an average of about 60 per cent of the crop
marketed. Nearly all replies report the weather for picking very favorable ; in
consequence the cotton is clean and of good quality. Questions were sent to
ascertain the number of bales raised, and aiso the number of acres planted
last year, but the few replies which were made to these questions do not
enable us to give an accurate report.
son more

The weather for the month of




date of

from

Caldwell, Alexander, Davie, Forsythe, Yadkin, Stokes, Surrey,
Rockingham, Caswell, Person, Granville, Warren, Franklin, Nash, Wake,
Hyde, Pitt, Green, Cartaret, Craven, Beaufort, Tyrrel, Washington, Martin,

Currituck, Gates, Hertford, Northamp¬

an average

The weather during the month has been universally favorable for gathering
the crop—more so than same time last year.
Seventy-five per cent of the c op
has been gathered, and it is estimated that the remainder will be picked by
Dec. 25. In the counties of Jefferson, Nevada, Ouachita, Pulaski and Howard
the yield is reported as about the same as lad. year, w iile in the rest of the
State there has been an average decrease of about 25 per cent. About one-half
of thecrephas been marketed.
The complaints mentioned in the reports

Wilkes.

c

from 18 counties, of

<0

•report, covering the State of Virginia and the following Counties in North
Carolina: Rutherford, Lincoln, Catawba, Rowan, Davidson, Iredell, Burke,

Bertie, Chowan, Pasquotank, Camden,

answers

Our correspondents in

of lint to seed cotton is

Nashville Department
Middle Tennessee east of the Tennessee River, and the following
Counties of Alabama /—Lauderdale, Franklin, Colbert, Lawrence, Morgan,

covers

Limestone, Madison, Marshall, Jackson, DeKalb and Cherokee.

The report is
prepared and issued by the Nashville Cotton Exchange, through their Commit
tee on Statistics and Information, composedof Leonard Parks, Chairman, B
Lanier and J. P. Dobbins.

634

THE CHRONICLE.

Tennessee.—Only 15 replies received.
All but two report the weather
Hast year, and they fay favorable.

favorable for gathering; the
crop than
Eleven report the crop in their section all
gathered; 6 report nearly all ga'hend.
The yield *s generally reported less
than lad year, the
average being 20 per cent less, and two-thirds of the
crop
marketed.
more

bales* against 8,072 bales last

week. Below we give
our usual
exports of cotton from New York, and their
direction, for each of the last four weeks; also the total
exports
and direction since
Sept. 1, 1378, and in the last column the total
for the same period of the previous
table

showing the

year

Alabama.—23 replies.
The general report of weather is more favorable
for gathering the crop than
Twelve report the crop nearly all
gathered,
and 0 report all
gathered. The j

Exports

of CoUou(bales) from New IforR
since Seot.l, 1878

last year.
ine

ield is repored less, being more in some sections th in
others,
per cent less, and one-third of the crop
marketed.

3.Yi-ld
covers

WEEK ENDING

biing about 20

average

(¥«&, XXVII.

Nov.

Memphis Department

the

Slate of Tennessee,

west of

the

Tennessee River, and the fob

lowing counties in Mississippi: Coahoma, Panola,
Lafayette, Marshall,
De Soto, Tunica, Benton and
Tippah, and the State of Arkansas north of the
Arkansas River. The report is
prepared and issued by the Memphis Cotton
Exchange, through their Committee on
Information and
composed
Gates, Chairman; L. Hauauer, J. N. Falls, Statistics,
A. M. Agalasto, Jas.
S. Day, R. F. Phillips and W. F.
Taylor.

of Sam. M.

West Tennessee.—33 responses.

Wealker for November—3 report the weather for
November never better, 21
favorable, 31 more favorablo than for November,
1877, about the same.
Crop Picking—Is reported as being from 75 to 100 per cent 1picked,
62 per cent; av.-raee date of
averaging
completion, December llth. Colton Yield—10
re¬
port larger yield th in 1677, 8 about same, 14 less yield,
decrease.
Colton Marketed—h is .variously reported as averaging 2 per cent
being from 8 to 75 oer
cent market'd; averaging 39
per cent.
Miscellaneow—ii report much
to cotton
damage

Liverpool
Other British Ports
Total to Gt. Britain

Nov.

20.

Dec.

27.

4.

9,417
602

8,686

6,544

10,019

8,686

905

251

Havre
Other French ports

....

North

Much

damage is reported

Mississippi.—33

by wet weather; 5 report the
from ravag s of boll worms.

season

responses.

averaging 3 J

per cent

per cent.

2,256

235

8,125
1,202

2,016

423

8,203

9,750

19,092

same; 1

jess

from

to N.

Shipments.—According to our cable despatch

,i8bjpinouts this
Great

Conti¬

Krit’u.

nent.

1,000
2,000

From the

2,000
3,000
2,000

week

bales

from

nent.

3,000 323,000 401,000
3,000 382,000 434,000
4,000 581,000 403,000

foregoing it would
a

1.

Conti¬

appear

decrease of

Total.

Receipts.
This
Week.

724,000 12,000

Since
Jan. 1.

912,000

816,000 12,000 1,083,000
984,000 9,000 1,095,000

that, compared with last
bales in the week’s

Bombay to Europe, and that the
since January 1 shows a decrease
in shipments
compared with the corresponding period of 1877.

total

952

•

•

....

•

•

250

•

....

•'•••

8,373

833

2,751

Spain, &c

485
'

S86

....

others

583

836

886

....

11,762

12.574

•

•

•

•

•

•

•

•

•

....

8.072

•

•

•

•

5,776

ship¬

movement

of 92,000 bales,

future

YORK.

BOSTON.

143,263

124,902

PHILADELPHIA

FROM

..

2,192

3,<X)1
3,1 8

Since

Sept. 1.

This
week.

19,631
79,274
76,233

9:6

976

1,263

13,7.5

Since

This

•

5,615

5,*35
51,54)
16,’39

...

1

Total to is year

23,213

383,576

Total last year.

33,553

355,31?

»

•

•

•

-

•

•

•

•

•

«

■

•

•

11,463
.

.

•

•

m

.

•

•

1.141
3,491

2,9J1

22,198
41,921
23,214

•

.

•

m

•

•

91,611

¥

•

m

•

•

.

-

26,281
•

*

•

.

•

•

S20

m-

•

_

„

„

•

•

«

10,860
6,217

2,334 27,148

.

•

....

9,832 107,031
11,304

•

.

1,598

7

....

•

B

.

696

543
c

1

909

*

•

...

3,602

v

This (Since

1

78.90*

53,49.

Since

3S0

....

177
703
969
6.9 id
523

BALTIMORE.

Sept.1. week. Sept.l. week. Sept.l

•

■

-

16,42?
....

m

m

•

•

m

•

•

....

1,973 27,89)

4,393

1,934

4,095 58,375

17,151

70,506

So far as the Southern ports are
concerned, these
exports reported by telegraph, and published in
The Chronicle, last Friday.
With regard to New York, we
include the manifests of all vessels cleared
up to Wednesday
nififht of this week.
Total ba

J*

the

same

New York—To Liveroool, per stexme s
City of New York, 271
Memnon, 1,230 ...Nile, 595.. .Baltic, 125
Bothnia, 47S ...Wyoming,
3n3 ...The Qtiee.t, 89i ...Germi
ic, 661 and 4) Sea

es.

..

...

Island
To Havre, per steamer Canad i,6M
To Bremen, pet* steamer Rhein. 23 i
To Hamburg, per steamer
Frisia, 250
New Orleans—To Liverpool, per sie inters
Linda, 3,716 ...O.aror, 2,814
Jeranas, 4,212....Delamhre,
2,398....'.Jity cf Lim?rick, 6 591,...
James
...

...

4,665
62 *
23:
253

Drake, 3,841
-.
21,574
ToHtvre, per ship France, 3,644 ...per bark Fiaoce et
Plata, 2,235. 5,879
To Rouen, per bark Aphrodite, 630
630
To Bremen, per steamers
Hannover, 634....Annie Ainslie, 3,129....
per ship John Patten, 4,537.
'
8.350
To Rotterdam, per seame* cparl as
Townsend H >ok, 1,594
1,594
To Rival, per steamers
Kensington, 4,975
Mahbar, 5,726
Romulus 3,650
14,351
Mobile—To li.vre, per schooner E. A.
Baizley, 1,427
1,427
To Bremen, per bark
Fides, 63 »
650
To Barcelona, per brig
Ethel, 612
612
Charleston—To Liverpool, per bark Dartmouth, 2,365
Upland and 272
Sea Island
2,637
To Havre, per ship Edith, 3,075
Up'and and 52 Sea Island
per
brig Fesca, 930 Upland
4,057
To Barcelona, per bark Tree
Auroras, 1,2(0 Upland....per brig
Pubilla, 550 Upland
1,750
Fort Royal—To Liverpool, per bark Richard
Parsons, 3,700 Upland... 3,700
Savannah—To Liverpool, per steamer
Orchis, 4,645 Upland
4,645
To Bremen, per steamer
Clandon, 5,075 Upland....per ships Crown
Prince, 3,15) Upland
Winnifrcd, 3,100 Upland....per bark
Arracah, 2,375 Upland
13,700
To Rotterdam, per bark Nerens,
1,755 Upland
1,755
To Antwerp, per bark Johanne
Marie, 2,090 Upland
2,090
To Reval, per steamer
Larthington, 4,0jj Uplaud
4,000
To Barcelona, per bark,
Juanita, 561 Upland...'.per brig Jn'.to, 780
Uplani
1,341
To Malaga, per bark Juanita, 650
Upland
650
Texas—To Liverpool, per steamers
Ganges, 4,723 ...Cairnamuir, 4,231
per shipStambonl, 4,428 ...per bark Aretas,
1,232....per brig
Little Harry, 947
15,611
To Fleetwood, per schooner
Oentennia’,
1,760
1,760
To Havre, per barks Eiinor, 1,325
...Warner, 2,208....per schooners
C. E Morrison, 1,697....E J.
i
Morrison, 1,767
6,997
To Bremen, per ship
Savannah, 4,593....per bark Hampton Court,
...

...

~

—

ship¬

The Exports of Cotton from
New York this
decrease, as compared with last week, the total week show




•

....

Gunny Bags, Bagging,
&c.—Bagging has not moved daring
the week, except in a small
way for jobbing wants, and ns>
increase can he noted in the
demand. The feeling is
ruling
Weaker again, and prices are
3,247
tending to a lower basis. At the Wilmington—T#
7,752
close, holders are willing sellers and are
Liverpool, per bark Iudiana, 1,240....
1,240
To
Br*
quoting
9±,
9£, 10£c.
men, per bark Meteor, 1,200
for If, 2 and
1,200
lbs., but a round lot could be had at a lower
To Hamburg, per b irk
Asta, 1,398.
1,393
figure. Butts are quiet and easy in tone ; sales have been
Norfolk—To Liverpool, per steamer Aurora, 3,210
per ship America,
4.401
freely made, owing to some supplies coming to hand, and more
7,611
parcels Baltimore—To Liverpool, per steamers Carolina, 800
to the extent of 2,000
Caspian, 616.. 1,416
bales, ex ship, have been placed at 2 9-lG(o) Boston—To Liverpool, per steamers Hooper,
2,288
Euphrates. 166
The inquiry lias fallen oft
...Bulgarian, 1,309.. .Pembroke, 802. ..Bavarian, 1,710.. .Victoria,
again, and at the close the feeh
1,678
ing is nominal, with holders quoting 2
7,951
9-16@2
Liverpool per steamers Ind ana, 500....Devonshire,
quality and terms. We hear of no transactions in11-lGc., as to Philadelphia—To
600
ments.

•

886

...

received

shipped from

| Shipments since Jan.

Great
Total. Britain.

there has been

All

•

‘

Europe,

•pain.OportoAGibraltar&c

are

to

Bombay to
Cl re At Britain the past week and
2,000 bales to the Continent;
while the receipts at
Bombay during this week have been 12,000
biles.
The movement since the 1st of
January is as follows.
These figures are brought dowu to
Thursdav. Dec. 12.

ments

Total

•

....

Shipping News.—The exports
of cotton from the United
Spate's the past week, as per
Latest mail returns, have reached

better;
favoil

report much damage by rains,
causing excessive
grecwrih. <>f the plant and light fruitage ; much
damage is reported by ravages
cf fcttll-^jrms; 17 report the season a>
having been a good average ouefor
&
toe si! crops.
C. Liior—88 report laborers
working well, and general morale
good ; 14
rsporttfcei& working only moderately well
; 11 tint the morale of laborers is
root good.

year,

•

Other ports

157,404 bales.

never

G. Misce. IancG complain of seiious
damage by drought during the
mouths of July, August and
September, causing serious
auad premature ripenin'; 19
shedding of fruit

1878
1877
1876

Hamburg

Foreign..

aq a

being
75
103 per
garnered, averaging 85 per cent, and‘thit picking
will b« cousu cmatei
by t>-e 5th. to he 39th of December ;
averaging Dec^ 14.
of Crop -37 reprt a greater yield than
1877
18 about the
less yield ; averaging 5 per cent Ices
same; 47
yield than 1877.
A. Crop Marketing -The cotton
crop is variously estimated to have been
fr in 8 to 75 per cent marketed at the
close of
November, aveiaging 40 per
«ceut.

Bombay

2,141
115

....

583

North’rn Ports
Tennessee, Ac

crops.

to-day, there have been 1,800

6,9:4

...

1,799

Virginia

November never better, 9
very favorab e, 9
more favorable than
November, 1877, 1 about same. Picking
is repotted as
being 75 io 90 per c nt completed, averaging 84 per
av-rage date for fin¬
ishing, December 13 h. Yield— 7 renort larger yield cent;
than 1577, 3 Jess:
average
gr ater yield, 1 yt per ce :t.
Marketing is reported at 10 to 5 j per cent:
aver¬
aging 29 percent of crop marketed. Miscellaneous—1 report much
damage by
dry, hot weather, causing mnch blight; 1 reports excessive
growth
of plant;
tight fruitage, occasioned by excessive rains; 5 report weather
good for all

as

626

....

833

New Orleans..
Texas
Savannah
Mobile
Florida
3’th Carolina
N’th Carolina.

r

__

740

...

6,931

This
week.

North Alabama.—10 responses.

.

103,554

marketed,

damsged by heavy rains in August and September,
causing serious shed dng
growth; 9 report an average good seaso.i.
Much damage is
from
noil-worms
reported
and rust.

^

125,693

The

an! excessive

Crop Picking-The cotton crop is reported

4,635

following are the receipts of cotton at New York, Boston,
Philadelphia and Baltimore for the oast week, and since
Sept. 1, *78:

Weather for November—3 report the weather never
better, 29 ve y favorable,
37 more favorable than November, 1377.
Crop picking is reported as being
from 75 to 90 per cent completed,
averaging 64 per cent; average date of com¬
pletion, Dec. 16. Cotton YieJd—15 report larger yield thin
1877, 4 about
Id less; averaging 7 per cent less
yield than 1877. Cotton Marketed—Thesame,
is reported from none to 75 per cent
crop,
marketed, averaging 45 per cent. Mis¬
cellaneous—\Q report. serious damage from
drouth, causing much blight; 18

2.
cent

6 744

626

NEW

ohle.

101,969
1,585

749

aBCK’TS

regate—102 responses.
1. Weather for November—17 report the
weather for November
85 very favorable; .00 more favorable than
1877; 1 about

3,652

251

Grand Total

Arkansas.—37 responses.

Weather—\ reports weather f

....

Bremen and Hanover

Total

Weather for November—1 reports weather never
better, 32 ve~y f4vorable,
32 inure favorab e than 1377
; l n t so good.
Crop Picking— Picking reported
an being 75 to 100
per cent done,
averaging 8r per cent ; average date of com¬
pletion, Dec. 13. Cotton Yield —11
report 1 tr°;er yield than 1S77. 6 about ihe
aame, 15 'css, averaging 5 per cent lees yield than
1377. Cotton Marketed—
The crop is variously cstini ted as
having been 10 to 75

122,041

4,665

905

by excessive drought

favorable.

*

year.

Total French

v^ry

of August and September, causing exc ssive
eheddi g, rust and premature
ripening; 3 complain of serious damage from
excessive growth and light
fruitage caused

Dec
11.

200

....

Same
period
prev’us

Total
to
date.

EXPORTED TO

1,109

Total
a

reaching 5,776

The particulars of these
are as

follows:

i

shipments, arranged in

157,404

our

usual form

December 14, 1878.

THE CHRONICLE

|

navre Bremen
Liver- Fleet- and
and Rotter- Ant-

Barcelona

New York

....

New Orleans..

Thursday.

and

pool. wood.Rouen.H’burg. dam. w^rp. Reval.Malaga.Tolal.
4,665
626
485
5,776
23,574
6,509 8,3.0 1,594
14,351
54,378
850
1,427
612
2.881
2,637
4,057
1,750
8,414
3.700
3,703
4,615
13,701 1,755 2,030 4,000
193
28,181
15,611 1,760 6,937 7,752
31,123
1,24)
2,593
3,838
7,611
7,611
1,416
1,416

-

..

*

....

Mobile
Charleston

....

...

...

Port Royal

Savannah
Texas.

Wilmington
Norfolk
Baltimore
Boston

7,°51

Philadelphia.

'

’

7.951

1,100

...

Total

74,150

1,100
1,760 19,616 83,735

3,349

2,030 13,351

4,3:3

Below

we give all news received to date of disasters
Carrying cotton from United States ports, etc.:

157,404

damaged:

Riversdale, steamer (Br.), Humphreys, from New Orleans, for Reva.1, put
into Halifax, Dec 4, short of coal.
City op Atlanta, steamer, Wondbul1, at New York, Dec 4, from
Charleston,
on Dec. 1 had a
heavy southeast gale, during which lust and split sails,

and stove bulwarks.
Jambs C. Stevenson, steamer (Br.). Parvis, at Havre, Nov.
2!, from New
York, reports, encountered heavy gales on the 3th. 9th and 11th of Nov.,

sustaining damage to boats, cab’n, skylight, and cabin furniture, had
bolts

drawn oat of deck, starboard bow ol forecastle and seams of deck
started, and battens and tarpaulins wash d off the after hatch.
Lena, steamer (Br.), Pease, from Savannah for Bremen, was aground in the
Weser, Dec 5. Tugrs went to her assistance.
Virginia, steamer from’Charleston, S. C., at Philadelphia, Dec. 10. reports,
having experienced a stormy passage and 1 -st part deckload and rail.
Royal Diadem (Br.) A survey was hel i Dec. 2 on the bark
Royal Diadem
(3r.), at Charleston, S. C for R itterdam, before reported
She had the
appearance of being strained, was leaking badly, and the deck was much
burned forward and had been forced out of position
by the fire and the
action of tho water on the
cargo. She lay cn the bottom, with a list to
starboard, at North Commercial wharf.
A steam fire engine was
employed on the 5th pumping out the water while the main hatch was
open and the cotton being hoisted out. The cargo which was
being
discharged was all completely wet, but nme of it appeared to have
suffered much from fire. The work of
discharging would dobutless g>
on until the entire
cargo was removed
The burnt portion of the cargo
w.ll probably show itself more distinctly when the
cargo in the forward
part of the bark was reached.
,

freights tlie past week have been
Liverpool.—

Steam.
d.

Sail,
d.

Saturday. J4@9-32
Monday.. *@9-32
Taesday.. *@9-82
Wed’day.. *@9-31

Thursday.

Friday....

,—Havre.—* ,—Bremen.—*

<—

Steam.

Steam.

Sail.

c.

Steam.

c.

Sail.

C.

-@* 11-16 cp. —@*
-@* 11-16 cp. — @*
-@* 11-16 cp. — @*
-@* 11-16 cp. —@*
-@* 11-16 cp. — @*
—@* 11-16 cp. —@*

*@9-31
*@9-32

follows:

as

*
H
%
*
*
*

£

comp.
come.
comp.

*
*

coino.

*

comp

*

comp.

*

Hambarg-%
Sail,

c.

c.

* corap.
% como.
% c;>mp.

*

Delivery.

* comp.
% comp.
* comp.

—
—

—
—
—

—

Liverpool, Dac. 13—4:35 P. M.—By Cable from: Liver¬
pool.—Estimated sales of the day were 10,000 bales, of which
2,500 bales were for export and speculation.
Of to-day’s sales
8,650 bales were American. The weekly movement is given as
follows:

Delivery.

Dec
478® 2732
Dec.-Jan
478®27.32
Jan.-Feb.. 42033- 78-2<32
Feb.-Mar.. .43132,2>152G
5
Mar.-April

Delivery.
Mar.-April
43i32
April-May
5i3a
May-June
5332
Shipment.
Nov.-Dee., n.crop.4i&i$

April-May
May-Juno.... ....5h3

July-Aug

Dee
Feb.-Mar

.....41316
.43932
...

Friday.

Delivery.

Dec
Dec.-Jau
Feb.-Mar

Delivery.

4i3lr>
478

Mar.-April
April-May
May-June

Delivery.

J11 ne-July.... 5 *8 ® 5ag
Dec
42730'S: ia1G
Dec.-Jan
4i31G
May-J une
5 *8 ® 332
Jan.-Feb
42732
Jan.-Feb
42932

4131G®2732
.43i32
5 ©132
5332

to vessels

Ariel, steamer (Br.), at Liverpool, Nov. 21, from New Orleans, in docking at
former port night of the 22d, struck the dock wall and kid stem
sligutly

Cotton

635

Feb.-Mar

41316

Mar.-April
April-May
May-June

5

5332
5»33
53ls

June-July

BREADSTUFFS.
Friday. P. M., December 13, 1878.

There

was

dull and

drooping market for flour throughout
week, prices of the medium and better grades
declining 10@25c., per bbl. Extreme low grades not being in
large supply, and meeting with a pretty fair demand, did not
give way much. The weather has been stormy and unfavorable
to local trade;
foreign accounts were dull, and, in sympathy with
the depression in wheat, receivers were inclined to
pres3 sales of
current receipts.
Production is large. Yesterday there was a
steadier tone, but no recovery of values.
To day the market
was firm and
fairly active.
The wheat market was also dull,
drooping and unsettled, especiilly for winter growths. Spring wheats, though dull, were
in a measure supported by speculative action at
Chicago, which
is keeping back supplies.
No. 2 red winter declined to $1 OSjfc
$1 06£, spot and December ; No. 2 amber to $1 03^@$1 04, and
No. 1 white to $1 07£@$1 08.
Foreign advices were dull and speculation was much less :
active. Yesterday there was some
recovery, No. 2 red winter
selling at $1 07 spot and December, but trade was slow. To¬
day the market was stronger at $1 07£@$1 08 for N). 2 red
winter, and $1 09 ®$1 09£ for No. 1 white.
Indian corn has been irregular,some of the better
grades having
declined,while the lower grades, and notably new mixed, are bring¬
ing more money—No. 3 advancing to 42£@12fc. S:eainer mixed
was more active at
45@45£c. on the spot and for early arrival,
end No. 2 at 46£@4?c. in store and
afloat, and 47£@47|c. for
January delivery, selling at the same time for February at 46fc.
The supplies of new Southern corn have
increased, but are still
small.
To day there wa3 a fuither advauce to
47£c. for No. 2
most of

a

the past

and 43c. for No. 3 mixed.
Nov. 22.
Sales of the week
bales.
Forwarded
Sales American
Of which exporters took
Of which speculators took..
Total stock
Of which American
Total import of the week
Of which American
Actual export
Amount afloat
Of which American

Nov. 29.

00,000
6,000
39,000
0,000
4,000
250,000
124,000
29,000
20,000
5,000
337,000
207,000

Dec. 6.

44,000

Dec. 13.

10,000

49,000
7,000

33,000
5,000

33,000
7,000

2,000

2,000
329,000
201,000

301,000
175,000
104,000

55,000
5,000
43,000
13,000
2,000

68,000

0,000
291,000

7,000

9,000

310,000

223.000

337,000

248,000

270.000

The following table will show the tone of the
and futures, and the daily closing prices of

firm but dull.

Barley quieter but steady. Canada
dull, but, through ilie firmness of
holders, prices were slightly improved, especially for white.
To-day the market was firm, and No. 2 graded quoted at 30£c.
for mixed and 33$c. for white.
The following are closing quotations :
was

nominal.

Oats

market, daily, of spots

spot cotton for the week:

ern

Extra Stite, &c
Western spring

1

extras

Saturd’y. Monday. Tuesday. Wedn’sdy Thursd’y

Market, \
12:30 p.m. 5

Dull,

Dull,
unch’ged

easier.

Mid. Upl’ds
Mid. Orl’us.

5x16

51i6

5Lj

Market, \
5

p. m.

Heavy.

5

5Lj

5ii6
5716

Un-

Uii-

Heavy.

Easier.

5

5

P. M.

)

Steady.

47s
Un-

changed.

Heavy.

The sales of Futures have been

demand.

514

changed. changed.
Dull.

Moderate

41516

5%

Futures.

Market, ?

Friday.

Weak.

De¬

pressed.

Offering
free.

follows. These sales are on the
basis of Uplands, Low Middling clause, unless otherwise
stated.
Saturday.
Delivery.
d.
I
Delivery.
d.
I
Shipment,
d.
Lee
5132 } Jan.-Feb

do XX and XXX
do winter shipping ex¬

Dec.-Jau

0I32 l Mar.-Apr

I May-Jime

| Nov.-Dec.,

•

11.

5732
crop.5333

Monday.

Delivery.“
.*
5132
5332

Dec
Feb.-Mar

Mar.-Apr
Apr.-May
May-Juno

5J8W

5532
5732

..

Delivery.
Apr.-May
May-June

Dec.-Jan
Jan.-Feb

....

June-July

5316

...5 *4

5132
-5iig<z>i32

55i6~

Tuesday.

Delivery.

Dec
Dec.-Jan

Jan.-Feb

Feb.-March....

Dec

Mar.-Apr
Apr.-May;

Dec.-Jan
Jan.-Feb

Nov.,

Shipments.
new

sail

Dec.-Jan.,
sail

f3132
43l32
43I32

5332
11. crop,

53a2
Mar-Apr., 11.cp.sT.5932
Delivery.

Feb.-Mar

51.32
51*6

Mar.-April
Shipments.
Nov., n. crop, sail.SLe

Jan.-Feb.,

n.

sail

Dec
Jan.-Feb

Feb.-Mar

.

Mar.-Apr
Dec

crop,

Delivery.

April-May

5X8

5

June-July

5*

Mar.-Apr
May-June

sail
416*6
5132
5132
Nov., n. crop,sail.5
5532
Nov.-Dee.,n. crop.5

5116

4^16

May-June

Jan.-Feb

5316

June-July
Nov.,

Shipments.
new

3
4

70@ 4 00
25@ 5 5)

....

City shipping extras

Southern bakers’ and fa¬

mily brands.
Southern shipp’g extras.
Rye flour, superfine
Corn meal—Western,&c.

.

.

3 85@ 4 20
4 25@ 5 50

do

5 50c& 8 OJ
3 80@ 4 83

46@
57@
60@

Rye—Western
State and Canada

Oats—Mixed
4 40@ 5 75
.

43
59
62

29@

White

4 00@ 4 30
2 9)@ 3 30 I
2 40& 2 65 I
2 85@ . .. I

Corn meal—Br wine. &c.

yellow

..

Barley—Canada West....
State, 4 rowed
State, 2 rowed
Peas—Canada bond&free

82
35
1 00@ 1 25
90@ 1 00
75@
80
72@
85
32 @

Receipts at lake aud river ports for the week ending Dec. 7,
1878, and from Dec. 31 to Dec. 7, and from Aug. 1 to Dec. 7.
AT-

Flour,

Wheat,

bhls.

Corn,

bush.

bu*h.
(56 lb-O
681,320

(196 lbs.)

Chicago

Milwaukee

Toledo

Detroit.
Cleveland
St. Louis
Peoria
Duiuta

..

(00 lbs.)

Oats,
bush.

bush.

Rye,
bush.

(32 lbs.) (48 lbs.) (£6 lbs.)

54,498

839,052

63,996

765,253

89

214,855

13.940
17 4,383

5. 273
2,^05
56.236

109,943
15, *30

2,175
67,591

317,074

122 505

202,04)
46,300
11,236
16.051
1%6',0
33,9)1

79,750

56,800

1,141,573
1,303, s 88
840,133
1,184,410

382,058
534,128
240,-01
348,209
29,557,89=
22 618,813
24,074,790
21,438.158

8,00.1

Barley,
66,435

5

,220

1,267
6,8 0
38,(04
8,450

34,601

14,690
540
400

24,421
9,4!0

....

Total
Previous week

Corresp’ng week,’77.
Corresp’ng vveek,’76.

crop,

160.9 )9

2,26 2,007

160,300
141,993
118,603

2,494,067
855,5t)9
882,809

to

Dec.7...5,422,283 85,167,053 89,72?,919
1877
4,728,677 50,258,4-3 75,510,196

Sami lime
Same time 1876
Same time 1875

....5,260,057
4,654,855
Tot Aug.1 to Dec. 7..2,425,624
Same time 1877
2,494,815
8ame time 1876
Same time 1375

53,621,313 76,192,128
66,570,841 46,026,905

51,160,064 37,216,767
39,966 845 31,694,609

2,324,239 27,182.255 34,537,780
2,026,714 36,132,053 16,288,385

178,176
240,438
119,764
169,832

84,102
101,710
40,535

83,601

9,553,936 4,831,97*
8,635,857 4,>51,450

8,434,530 2,592,696
5,603,316 2,723,(35
15,836,777 6,623,135 772,669
11,793,359 5,783,071 1.888,343
10,23S,0S2 5,465.841 1,525,280
13,826,789 4,048,061 1,158,720

Shipments of flour and grain from Western lake and river
from Dec. 3L to Dec. 7.

ports

43i{o
43i’,o

Dec.-Jan.........4t®jQ




Delivery.

3 60

73@ 3 9J

81

No. 2 spring
95@
98
No. 1 spring
@
Ked and Amber Winter 1 0"@l
03*
Red winter No. 2
1 OT^'S) 1 03
White
1 04@ 1 11
Corn—West’n mixed..
42*@ 47*
,do steamer grade. 45* @
do
white
47@
49

crop,

Wednesday.

Delivery.

XX and XXX..
Minnesota patents......

Tot.Dec.31

Delivery.
May-June
5”32
July-Aug
551g
5*
Juue-July

..

do

as

5*32

3

3

Grain.

Whest-No.3 spring, bush. $0 89@

Wheat

tras

Spot.

were

324,000
Flour.
192,000 1
$ bbl. $2 40@ 3 00
48,000 No. 2
34,000 Superfine State & West¬

82,000

90,000

Rye

peas

5732

Flour,
bbl*.

Wheat,

Corn,

bush.

bush.

Oat*,
bush.

Barley,

Rye.

bush.
tush.
Tot.Dec.3i to Dec 7...5,761,063 63,354,125 77,958,846 21,062,553 5,040,394
3,684,274
Same time 1877
feame time 1876
iame time 1875

4,945,927 4V>69,845 66,481,125 17,691,756 5,488,776 2,354*877
4,685,613 47,965.827 73,127,629 19,688,028 3,732,398 2,343.526
5,257,221 57,277,115 42,234,669 18,911,382 2,629,263 900,354

.

THE CHRONLCLE

636

Week

ending—
Dec. 7, If78
Dec. 8, 1>77
Dec. 9, 1676
Dec. 11, 1875

Flour,
bbls,
171.143

Wheat,
bush.
518,0i6

Corn,
bush
210,905

Oats,
bush.
120,902

122,710
118,19)

297/70
454,470

330,081
584,080

137,100
152,0 5

163,317

216.280

471.292

122,129

Receipts of flour and grain at seaboard ports for
ing Dec. 7; 1878, and from Dec. 31 to Dec. 7.
At—

.New York
Boston
Montreal

Wheat,

Corn,

bbls.

bush.

bush.

bush.

146,793
51,1-38

8^0,000
63,000

283,803
18-/80

2,700

14,720

3,000

250,883
62,023 ‘
2,500

11,099

SCO

20,490

Philadelphia.

Oat*,

Flour,

Portland..

372,4)0
559,400
72,605

136,490

10,000

60,0.6

8-5,283
265,343 1,962,925
311,403 2,775.260 1,7ll,012
873,2.2 1,522,291
-Corresp’ng week,’77. 271,002
Tot.Dec.31 to Dec.7.9,124,756 103,741,980100,289,301
Same time 1877
7,890,365 43,"85,054 82,173,718
"Same time 1876
.9,480,849 41,382,533 63,375,125
Same time 1875
9,420,155 53,363,834 53,619,733

453,487

Total
Previous week

..

fc20,13i
507,997.

•

•

•

115,642
400
■

•

a

•

•

«

•

....

•

•

•

m

13,500

47,6r0

32.202

8.151

New Orleans

68,800
15.3C0

410

.

212.000

21,272

Baltimore

,

Prints ruled quiet, and there was a very light movement
ginghams, cotton dress goods and cotton hosiery.
Barley,
Rye,
Domestic Woolen Goods.—There was a spasmodic demand
bush.
bush. for men’s-wear woolens, and transactions were not as
large as
103.^53
14,033
10,753 expected by manufacturers’ agents. Some failures were reported
122,195
77,079
82,639 in the clothing trade which had a depressing effect upon the
11,262 market; but it is thought that though clothiers have not been
296,129
the week end¬ making much money of late they are generally in a sound finan¬
cial condition.
Heavy woolens were in very moderate demand,
but there was a fair movement in light-weight cheviots, fancy
Barky,
Rye,
bush.
bush.

shipments of flour and grain from Western lake and river

Rail

ports.

•

■

•

•

6,700

1,000
20,099

97,600
406,900

113,841
197,040

364,701

14,964

23,467,723 0 032,159 5,103,597
19,955,394 9,032,254 2,528,323
23,753,106 7,557,205 1,*"58,400
19,806,622 4,853,123
434,437

Exports from United States seaboard ports and from Montreal
ending December 7, 1878.

for week
Fp.om—
New York
Boston

Flour,

Wheat,

Corn,

O.'itS,

Rye,

Peas,

bbls.

bush.

bush.

bush.
55.487
SOO

bush.
60,263

bush.

1,220.980
7,425
249,018
1,003
14,720

59,839

.

Portland
Montreal

,

....

,

2,025
5,010

Philadelphia
Baltimore

415,833
461,991

497,3-9
213,329
•

•

•

•

•

•

•

•

•

•

•

.

•

•

450
4*0

•

.

•

.

10,156

.

.

„

•

....

114,1*12
185,830

[Vol. XXVII,

•

.

.

.

9.538
«...

....

•

....

....

•

•

56x60s.
in

cassimeres and worsted coatings on account of former orders, and
additional orders were placed to a fair amount by clothiers.

Cloths, doeskins and cloakings continued sluggish, aud there

spirit in the demand for Kentucky jeans and satinets than
expected, though some fair sales were effected by means of very
lew prices.
For worsted dr<ss goods, shawls and skirts there
was a s'rictly limited inquiry, and woolen hosiery and underwear
ruled quiet.
Foreign Dry Goods.— The market for imported goods has
subsided into a condition of extreme quiet (as is always the case
at this stage of the season), and purchases were mostly restricted
to small lots of the most staple fabrics and specialties adapted to
the holiday trade.
Cashmeres and low-grade silks were, how¬
ever, distributed to a fair amount, and prices ruled steady on
nearly all staple goods of foreign manufacture.
uuiiortauous of Dry

The

60.263
19.694
56,f87
75,337 2,365,542 1.011,966
89.3-0
695, (-71
7,259
41,291
108,137 1,743,607
47,139
633,675
65,221
91,225
108,830 1,916,237
2,637
62.911
43,285
85,576
746,761 1,372,64i
From New Orlecns 3,163 bbls. flour, 190,260 bush, wheat, 14,2C5 bush, com
.aud 20,052 bush. rye.

importations of dry goods at this port for the week ending
corresponding weeks of 1877 and 1870,

have been

as

follows

Manufactures of wool..
do
cotton
do
silk
do
flax...

bush.

In Store at—
New York

Aibany
Buffalo

..

Chicago

..

Milwaukee
Duluth
Toledo.
Detroit.-

..

...

...

..

..

f8t. Louis
Boston

..

Toronto
Montreal (1st)

Philadelphia
Peoria
Indi napolis
Kansas City
Baltimore

..

...

..

..

Rul shipments, week....
Lake shipments, week...
Total
Nov. 30, 1875
N >v. 23, 1878
Nov. 16, 1878
Nov. 9.1878

Nov.

2, 1873

Ocr.
Oct.

26, 1873

Dec.

8, 1877

19, 1878

..

.

bush.

bush

602,006

14 3- 0

1,368,442
4,836,429
1,78»,510

827,400
1,296,927

151,01)0
355.40 5

1,240.531

59,327
172,858

16,372

71,014

588,941

58,932

137,067
310,247

....

•

.

61.316

81,858

c3}£ j o

14,410

620,000

216,228
3,723
365,000

479.018

384,1 9

85.914

93,347
88,0:3
9?,i63

213,849

111,510

604, e83

259.350

604

36/71

9 3,9rio

5,189

49,945

26,947
10,168

5.551

20.263
206,191

1/61.69$
518,036
b20,314

16,200,015
..16,497,635

16,565,793
..16.892,965
.

16,292.755
..16.882.581
.16,503.659

....

117,558

....

12.688

24,425

820 000

232,' *8
29,351
134,647
84,937

....

321,116
204,814
210,9: 5

120.902

61,188

6,293

•

•

...

25,500

*

•

•

...

Miscell’neousdry goods

6,142

$128,178

812

372
584
378
772
558

2,029

$457,051

2,6G4

$738,390

thrown

and

32,000
88,6:8

Tot. thr’wn upon

THE

MARKET

DURING

PERIOD.

161
83
38
221
241

$74,163
101,275
72.120
;

INTO

171,980
206,030
154,311
77,891

8,694

16, 29

,

196

$72,110
30,849

41,523
15,649

101
42
254
526

$63,653
21,473
26,582

r-

35,663
54,337

30,633

2,035

$302,53?
593,287

2,029

$168,880
457,054

2,664

223,642
738,390

mark’t 3,172

$900,S68

2.776

$025,934

3,783

$962,032

Total...
Add ent'd for cons’mp’n

1,137

in

1.119

716
ENTERED FOR WAREHOUSING DURING SAME PERIOD.

....

969

9,891
99,158
20,680
3/97

14,033
6,333

5,124,159 2,423.417 5,205,152 1,200.820
7.510,653 2,455,966 5,117,484 1,506,963
8,787,375 2,603,774 5,483,938 1,239,669
9,296,949 9,318,962 5.336.614 1,9-6.357
9.552,67 s 3,016,864 4,966,134 1,320,474
9.804,922 3,475,740 5.083,907 1,406,548
10,208,909 3.552,441 5,212,725 1,649,975
10,218/95 3,729,6'*0 4,767,541 1.249,579
5.424,171 3,573,267 4,704,757
608,072

dry goods market has exhibited no important change since
last reported upon.
Business continued very quiet with manu¬
facturers’ agents, as usual at this time of year, and the jobbing
trade was quite moderate.
Operations in seasonable cotton and
woolen fabrics were mostly restricted to small lots required for
keeping up assortments, and comparatively little attention was
given to spring goods aside from men’s-wear woolens, for which
there was a moderate demand by the clothing trade.
Foreign
goods were exceedingly quiet, except a few specialties adapted
to the holiday trade which were distributed to a fair amount in
relatively tonal 1 lots. The large St. L uis jobbing firm of Dodd,
Brown & Co., who suspended payment some weeks ago with
liability s of over $2,000,000, have been compelled to make an
assignment, and it is feared that a relatively small dividend will
consequently be obtain* d by the creditors.J
Domestic Cotton Goods.—The exports of domestics from
this port to foreign markets during the week ending December
11 reached 2,523 packages, the more important quantities of
which were shipped as follows : Great Britain, 1,014 packages ;
Africa, 950; Hayti, 208; Brazil, 177; British Guiana, 44; British
West Indies, 37, &c.
Tbeie'.was a very light demand for cotton
goods by local and interior jobbers, most of whom are reducing
tlieir stocks to the lowest possible point before closing up the
transactions of the year. Considerable lines of bleached and
colored cottons were placed “on memorandum” by agents, but
Actual purchases were almost wholly of a hand-to-mouth charac¬
ter.
Prices wTere nominally unchanged, but it is not improba¬
ble that some revisions will be made shortly, owing to the con¬
tinued decline in the staple. Print cloths were dull and weak*
closing at 3£c., cash, for C4xC4s, and 3c., 30'days, to 3c., cash, for

243
230
49

$101,380
98,>34
32,222

56,486

2,600

118.226

43.402

497

$104,872

1,645
cons’mp’n 2,035

$320,172

3,680

$918,459

cotton

no

do
do
Misceil’neous
To»al
Add ent’d for

67,850
47,562

217
115
56
260
997

Manufactures of wool..

silk
flax

..

.

dry good

Tot’l entered at the port

59 .-,287

nuporui of

.

$127,242
101,082

26,796

349
295
67
529
37

3,619
2,029

1377,018
457,051

1,297
2,661

$438,716
738,390

5,648

$834,072

3,961

$1,177,105

85.310

110,887
14,195

Leadluje Articled.

following table, compiled from Custom House returns,
foreign imports of leading articles at this port since
Jmuary 1, 1878, and for the same period in 1877:
The

ahows the

[The quantity Is given in packages when not otherwise specified.!
Same
Since
Jan. 1,’7S time lts77

Friday, P. M., December 13, 1878.




196
329
(2
141
404

Manufactures of wool..
do
cotton
’
co
silk..
do
flax...

THE DRY GOODS TRADE.
The

$598,2S7

Value.

Pkgs.

$76,700
115,416
99,444
85,134
80,330

«

•

108,358

2,035

1878.

Value.

216
404
176
421

70,932
86,727

warehouse

from

1877.

'

190.464

THE SAME

810

..

.

bush.

1,233,9* 4
21,900

Total

Bye,

9:5,577
469,000
424,720

276,731

Oswego

bust*.

3,520,555

Bariev,

$100,210
144,904

12, 1878.

ENDING DEC.

Pkgs.

269
554
233
334
645

..

WITHDRAWN

Oats,

Value.

Pkgs.

follows:
Corn,

1

1376.

Misceli’neous dry goods

Wheat,

:

ENTERED FOR CONSUMPTION FOR THE WEEK

comprising the stocks in granary
at the principal points of accumulation at lake and seaboard ports,
and in transit by lake, canal and rail, Dec. 7, 1878, was as
The visible supply of gram,

Uoo4r.

Dec. 12, 1878, and for the

•

Total for week..
Previous week
Two weeks ago
■Same time in 1S77...

was

less

Metals, Ac.—

China, Glass and

Cutlery

Earthenware—

China.... 1
Earthenware..
Glass
Glassware
Glass

Buttons

.

plate

Coal, tons.
Cocoa bags
Coffee, bags

Cotton, bales
Drugs, Ac—
Bark, Peruvian.
Blea. powders..
Cochineal
Cream Tartar..
GLambier

Ghm, Arabic...,
Indigo
Madder&Ext.of

14,925
36,758
209,300
31.673
4,746

8,090
12b,623
20,939
1,654,919
4,c52
39,073
29,101
8,5u0
«...

15,272
3,635
5,437
5,104

.....

35,774

Soda, bi-carb...

19,577

Oil, Olive.

Opium

Since
Same
Jan. 1,’78 time 1877

921

14.220
39,126

301,019
35,795

Lead, pigs
Steel

18,935 Tobacco
26,759 Waste
4,369 Wines, Ac—

Champagne.bkts.
Wines
60,430
5,482 Wool, bales
4,727 Articles reported by
value—
6,436
39,879 Cigars
1,638 Corks
23,587 Fancy goods

60,316 Fish
62.684 Fruits, Ac.—
Lemons...
4,57u

Hemp, bales
Hides, Ac—

159,319

Hides, dressed..
India rubber

Ivory
Jewelry,-&c.—
Jewelry
Watches
Linseed
Molasses

1,312
4,757
43,951
1,742

2,421

6,535

105 384

9.7,662
45,601
9:-*5,973

41,171

Tin, boxes
1,167.454
Tin slabs,lbs...
6/12
9,878,994 9,993 9*5
76,39* Paper Stock
1*5,072
177,031
22,403 Sugar, hhds, tcs. A
bbls
525,640
1,706,593
562,252
4,949 Sugar, bxs A bags. 2,23 *,567 2,807,724
Tea
844,067
657,695

64,830
3,050

Bristles

*.

3,664
1,2(8

1,047,347

7,6*1

6*,852

6,771
1,499
5,669

614

Spelter, Tbs

Soda, sa’
Soduasn
Flax
Furs V
Gunny cloth
Hair
.

3,S31

Hardware

54,670

61,854

474

789

88,040
120,894
31,316

87,972
123,746

$

$

42,455

1,457,752 1,215,010
59.705

62.725

1,037,511
547,157

897,329
582,060

983,178
1.320,302
6,377
1,330,1 32 1,2.5.579
Oranges
Nuts
825,001
4,825
879,682
Raisins
2,83s
1,265,293 1.440,273
142,673 j Hides, undressed.. 10,238.194 11,781,671
Rice
294,288
,251.675

1,752 Spices. Ac.—
6,039

56,414
785

Cassia....
Ginger
Pepper

Saltpe’tre

163,580
56,820

371,365
234,535

457,065

353:426
44,624
620.594

386,442

2,623 Woods—

550

504

215,468
79,621

381,029

90,293

Cork

Logwood
Mahogany

121,164
116,186

109.591

419,354
30.193

560,669
41.432