The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
AND
HUNT’S
MERCHANTS’
gt
representing
the
^aper,
industrial
VOL 25.
and
commercial interests of the united states.
SATURDAY, DECEMBER 15, 1877.
CONTENTS.
THE
kind.
CHRONICLE.
Wiil it Pay to Give the Bondhold¬
ers Silver ?
577
The Fall of Plevna and the Peace
Prospect
578
The Piovisions for the Security
of Bond and Share Holders by
579
English Railroad Law
Railroad Earnings .in November,
and from Jan. 1 to Nov. 30
581
Latest Monetary and Commercial
English News
583
and
Commercial
Miscellaneous
News
585
THE BANKERS’ GAZETTE.
Money Market, U. 8. Securities,
I Quotations of Stocks and Bonds. 589
Railway Stocks, Gold Market,
i Investments, and State, City and
Foreign Exchange, N. Y. City
Corporation Finances
590
Banks, National Banks, etc
586 |
THE
Commercial
Cotton
Breadstuffs
COMMERCIAL
Epitome
TIMES.
593 I Dry Goods
599
594
598
601
Imports. Exports and Receipts.... 600
Prices Current
<£l)r0nule.
The Commercial
and
Financial Chronicle is issued
day morning, with the latest
news up
For Six Months
Annual subscription
Six mos.
do
on
Satur¬
to midnight of Friday.
TERMS OF SUBSCRIPTION-PAYABLE
For One Year, (including postage)
IN ADVANCE:
$10 20.
6 10.
in London (Including postage)
do
do
£2
5s.
1
6s.
'
Subscriptions will bo continued until ordered stopped by a written order, or
at the publication office. Tho Publishers cannot be responsible for Remittances
unless made by Drafts or Post-Office Money Orders.
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 advertisers must have equal opportunities. Special Notices in
Banking and Financial column 60 cents per line, each insertion.
william B. DANA,
)
WILLIAM B. DANA & OO., Publishers,
JOHN g. floyd, JR. J
79 & 81 William Street, NEW YORK.
Post Office Box 4,592.
Transient advertisements
are
VW* A neat file-cover is furnished
at 50
cents.
cents; postage on the same is 18
Volumes bound for subscribers at $1 50.
13?“ For a complete set of the Commercial and Financial Chronicle—
July, 1865, to data—or of Hunt’s Merchants’ Magazine, 1839 to 1871, inquire
at the office.
H?” The Business Department of the Chronicle is represented among
Financial Interests in New York City by Mr. Fred. W. Jones.
WILL IT PAY TO GIVE THE BONDHOLDERS SILVER ?
During the past week the Senate has
so
far
as
MAGAZINE,
financial
subjects
the resolution of Mr.
the funding loan in
are
spent its time,
a
seat in the
highest legislative branch of the country can thus speak,
is discreditable, and would be
discouraging were it not
that there is
good reason to put faith in the average
intelligence and honesty of the people.
There are certain things about this silver
agtiation which
are too clear to need
argument. One is that the silver
dollar, existing in law up to 1873, never really existed in
fact and never entered
practically into circulation;
another is, that this dollar was the dearer one when
demonetized, worth then 103 or thereabouts, so that the
charge cannot be true that the demonetization was part
of a plot to raise all debts to a
gold standard; the third
is that the silver dollar is now the cheaper,
and hence
has arisen the movement to shave all
public and private
debts by paying them in a 92-cent coin. Most of the
silver men admit openly this last proposition,,
and none
of them can deny it without
closing his own mouth;
the argument is, however, that the government had, and
still has, the option of paying either metal, and may
honorably choose the cheaper one. Nobody should for¬
get, however, that about eight years ago a doctrine, also
from Ohio, blew eastward very strongly, that as the
early loan acts did not mention the medium of payment,
and as the greenback was a lawful dollar as well as
coin, the government has the like option in respect to
the five-twenties, and can pay them in the
cheaper
paper.
That doctrine did not get visible control, but its
foothold is visible now in the strength of its legitimate
descendant, the silver doctrine, which is only the old one
silvered
over.
As to the
legal view presented by Mr. Matthews, we
do not propose to discuss it; his arguments have been
answered many times in our columns. A man who
has made up his mind to do a dishonest act is
never
that
at
we
concerned, in considering that if
Stanley Matthews, about paying
That any man who has obtained
NO. 651.
a
loss
have
for
and it is quite true
nothing to do with abroad, in this sense,
reasons;
“ abroad” is not satisfied with silver there is
no
for redress; we need not pay Europe any¬
silver, even the silver men, for some thing, if we prefer, and if Europe comes over to take
reason, preferring to defer the Bland bill in favor of this satisfaction we are a country that can whip all the
resolution. If passed, it will be only an expression of world, no doubt. But perhaps a man who is debating
opinion on the part of the two Houses, but the silver whether he will cheat his creditor and is not troubled
men
probably consider it would be so unmistakable a by considerations of morality, may not be averse to fig¬
commitment as to operate as a wedge for the Bland bill. uring a little to see whether honesty of action, if not of
Mr. Matthews, to show his view of the situation,
replied intent, will not prove the cheaper policy. So, rlthough
to a
question by actually asking “ What have we to do it is humiliating to put the subject on so low a plane,
with abroad,” thus
putting in a sententious phrase which let us look at it as an “operation” to be sifted and
may live long enough to shame its author, the insane compared.
Reeling, now rampant in some quarters, of hostility
There are 778 millions of funded bonds, at 4 to 5 per
towards creditors, and defiance of the
opinion of man¬ cent interest, not maturing at any specified date, but
court
open
[Vol. XXV.
THE CHRONICLE.
578
redeemable in 3 1-3 to 30 years
from the present time.
simply to pay the
in a 92-cent silver
proposition, plainly stated, is
interest and principal of these bonds
The
increased cost
We have left no room to discuss the
bearings of the subject, because we assumed, for the
occasion, that moral law and financial sagacity are
shelved as things old-fashioned and “ abroad”—as aliunde.
Possibly Mr. Matthews expects to pay silver and still
“
saving ” would be increased, but at an
in other ways.
phrases can alter
or cover over this plain fact.
On the interest this shave
of eight cents would be about 3 million dollars a year;
have refunding go on; if so, we must decline to argue*
assuming that the bonds run yet 10, 20 and 30 years
There are countries where credit has no place; possession
before being paid—which would be a reasonable average
is title, and the street vender passes his loaf of bread in
—the total interest shave would be about 414 million
at the window with one hand while extending the other
dollars; the eight cents cut from the principal would also
for the money.
The United States might become such
be over 62 million dollars, making the aggregate
a country, and conceivably it might get on better with¬
on these bonds 8103,732,000, which would be a great
out any Jrust, public or private; but it cannot have
relief for the burdened taxpayers during the next 30
credit and repudiation both, and it can no more apply
years. Although Mr. Matthews talks only of these
bonds now, there is no good reason for not applying repudiation to one set of obligations without having it
run all through, with all the natural consequences, than
the new fiscal policy to all the bonds, because if it is
a man can jump from an open window and stop when
right to begin it is right to go on, as well as much more he is
part way down.
economical; hence we may expect that the cheap dollar
will roll over all the issues if it once gets started.
Omitting the small loan of 1858, there are 943 millions
THE FALL OF PLEVNA AND TnE PEACE PROSPECT.
of old bonds, all but 194£ millions being at 6 per
cent; the eight-cents clip on the interest of these would
After a most heroic resistance—a resistance which
be over 4 millions a year.
One issue is redeemable has had few parallels in the whole history of human
at pleasure in 3£ years from now; the rest definitely
warfare—Osman Pasha, yielding to the necessity of the
mature in from 3 to 10 J years.
Assuming that the one situation, has surrendered with his entire army; and
issue just mentioned will be paid in 10 years, the saving
Plevna is now in the hands of the Russians.
The star
of interest by silver payment would be, for the whole of Russia is
again in the ascendant; and the question
term, 45f millions, and the saving on the principal about which is uppermost in most minds, is, what use will the
75£ millions; the silver clip wrould thus aggregate, on Czar make of his victory ? Will he push forward his
all the bonds, about 225 millions, or, if it were applied also
triumphant legions to Adrianople, and thence to Stam—as it might as well be—to the 25 millions of overdue
boul; or will he, contenting himself with the vantageand unpaid bonds, all but a fraction of these being 5-20s,
ground he has acquired, prepare the way for the return
about 2 millions more would be added.
On the other of peace ?
hand—making the same assumptions as to time of actual
There are those who would have us believe that the
payment—if the new loan, except the fours, could be now war will be prosecuted to the bitter conclusion, and that
all refunded at 4 per cent, there would be an interest the fall of
Plevna, while it will have the certain effect
caving of nearly 71 millions during their term; if the of exasperating the Turks, will serve only to stimulate
©Id bonds could be funded at the same rate, there would Russian ambition and Russian lust of conquest. Accord¬
be an interest saving of about 17 millions a year on
ing to such, the war can only have one end—the en¬
them, or 172J millions during the whole term. This thronement of the Czar in the city of Constantine. We
would make an aggregate of 243£ millions of possible are not
disposed to take so gloomy a view of the pros"
caving by refunding, against one of 225 millions by the pect. It is not denied that there are many Moslem8
cilver eight-cent shave.
Or, to express the comparison who would almost prefer the extinction of the empire to
dollar and “make”
more
the difference; no
compactly:
SILVER EIGHT-CENT
CLIP
Yearly.
On interest of
1778,440.850 would be $2,977,760,
On interest of
943,207.000 would be
On
principal of
On
principal of
778,440,350 would be
943,207,000 would be
THE BATING
4,371 7S9,
BT REFUNDING AT
Constantinople into a Muscovite city. It is fortu¬
or $41,457,600
nate, however, that among both peoples the extremists
or 45,789,657— $87,197,259 are in the minority; and there is but little likelihood
62,275,224
that in the shaping of events in the immediate future,
75,456,500— 137,731,784
their wishes or opinions will find much encouragement.
$224,<-29,041
The peace necessities, happily, are greater and more
$703,440,350 would be $6,084,403, or
On interest of
943,207,000 would be 16,918,480, or
Difference in favor #f
Total.
FOUR PER CENT
On interest of
In these
dismemberment, and that there are many Russians
who will be content with nothing short of the conversion
its
THE
$70,544,030
172,69*,830— 243,541,860
$18,612,819
honesty
calculations—which
seem
to us conclusive,
against even the direct profitableness of the
operation, and which anybody can test who
we have ignored compound interest, although
proposed
chooses^—
it is evi¬
of
powerful than any temptations which
prosecution of the war.
exist for the
necessities which are peculiar to each
of the contending powers; and there are peace neces¬
sities which are powerfully influencing their immediate
neighbors, and, indeed, all the powers of Europe. It is
unnecessary to say that peace is every hour becoming
more and more a necessity to Turkey.
That she has
fought well, even magnificently, and that the' phrase
Sick Man ” as applied to that country and people, must
henceforth be a misnomer, all will readily admit; nor
will any one deny that Turkey is still capable of offer¬
ing a stubborn and even protracted resistance to her
There
are
peace
result reached would
emphatic. Nor is it any answer to
plead that these suppositions are extreme. Of course, it
is impossible to fund at once, as imagined; yet the prin¬
ciple of the thing is fairly illustrated. As to the assump¬
It is scarcely possible, however,
tion of eight cents, if the Bland bill should raise silver powerful antagonist.
Somewhat—as would be its tendency—the “ saving ” by that she could ultimately win. As time advances, as
Mr. Matthews’s plan would be proportionately lessened; the struggle continues, the tide of victory will rise and
swell, and roll in resistless waves against her. She can
on the other hand, if the dollar should fall below 92, the
dent
that, if it were included, the
be made much more
December
therefore, hope to make better terms
never,
great
579
rSHKuNIGLR
IHfc
15, 1877.]
with her
rival than she can do at the present moment.
It
would be unjust to conclude that her statesmen are so
blinded by prejudice and so exasperated by defeat that
THE
PROVISIONS FOR SECURITY OF BOND AND
HOLDERS BY ENGLISH RAILROAD LAWS.
To the Editor
SHARE¬
:
gladly endeavor, on your request, to explain the
of railway loans without foreclosure
they are ignorant of this fact. The prolongation of the
war might lead to the final destruction of the empire. powers, and how it would affect American bond and
Peace will give the Turk time to recuperate, to reor¬ shareholders, taking Erie for an example, as you sug¬
ganize, to adjust his institutions to the requirements of gest. I have been from the first a member of the com¬
modern times, and to take a new and nobler position in bined reconstruction committee of Erie bond and
the family of nations. Peace, as we have said, is shareholders, and have seen in detail there, and more
equally a necessity to Russia. The war “has been con¬ generally on other American railroads, the sore evils
ducted at a fearful cost of blood and treasure. Be¬ which have arisen for want of railroad laws sufficient
sides though Europe has not interfered hitherto, for the requirements of our times. This is no dispar¬
is it likely any of the powers will inter¬ agement to your great and intelligent nation, for rail¬
nor
fere in any arrangements she may now make with road laws have not been made by Congress, but have
Turkey, yet if the war is prolonged, if she advances on been made, without concert, by your numerous States
Constantinople, she has no guarantee that she will not some very slightly interested, and even the greatest
become involved, in her present crippled and exhausted representing only a fraction of the mighty intellect and
condition, with one or more of the great powers. Nor railway interests of your Union. It is not for strangers
is this all. The war finds little favor with the Russian to say how your legislation should be gone about. But
people. Society in truth is otherwise occupied. There both American and European investors painfully feel
is at the present moment in Russian social life not a lit¬ the endless differences and defects of State laws, which
tle which recalls the memory of the social life of France only benefit the great operators and railway magnates
prior to the great revolution of 1789. Doctrinaires, theo¬ who make it their business to learn the faults of these
rists abound.
All manner of novel sentiments and opin¬ patchwork statutes, and thereby to rule the common
ions find free and full expression. It is the belief of herd of bondholders and shareholders with a despotism
I
British system
that Russia is on the eve of a great social up¬
heaval. The government believes itself to be in dan¬
ger, and even now while the armies are fighting against
the Turk in Bulgaria and Armenia, the Senate is fight¬
ing with socialists whose opinions, if allowed to triumph,
many
would be subversive of both altar and
throne.
a
won
but because the Czar has all
been increased
at the
their
along disclaimed any inten¬
never
be borne.
The confusion has
by acts applying generally, though passed
instance of individual persons or
corporations for
own
The
purposes.
laws of railways
and other incorporated com¬
here also originally fragmentary and unsys¬
tematic. But after long and large experience, Parlia*
ment codified them in 1845, by the “Companies Clauses
Consolidation Act,” which has worked excellently. Some
important additions have been made as required, the last
of which have stood nine or ten years’ trial with marked
Since panies
great victory she can afford, without
loss of dignity, to come to terms with her less fortunate
foe. We are encouraged to hope for a speedy peace,
not alone because of the considerations above suggested,
she has
which here would
were
conquered territory. He has fought success.
I cannot show how our system would affect Erie bond
and won as the champion of the oppressed Christian na¬
tionalities.
With their rights secured, his mission will and shareholders in their difficulties, for, under our sys¬
have been accomplished.
tem, the like could not occur. But I can show how this
There are, as we have said, peace necessities, which is, and how both bonds and shares would have been not.
influence the outside powers. Servia is about to un. only preserved from difficulties, but vastly enhanced in
sheathe the sword again, and take part in the struggle value by such safety as is given by our railroad laws.
against Turkey. Greece is ablaze with excitement; and The public, too, would have benefitted, not only be»
the call is loudly made for the protection of her children cause it suffers by all waste and wroag, but because a
in Thessaly, Macedonia, the Epirus, and Constantinople. struggling railroad cannot serve the public so well. Our
It is not the interest or desire of either Austria or Ger¬ laws are alike for England, Scotland and Ireland, though
many that the situation should become more complicated some of these are passed, as it were, in duplicate, varied
on the Danube.
It is not the interest of Italy, or France, only in some legal words, &c., according to the law
or°Great Britain, that the situation should become more language and forms of each country.
I. Mortgages in America are at present secured by powers of
complicated on the Adriatic, the iEgean, or the Bos¬
foreclosure and sale, founded on an actual mortgage, granted
phorus. The march of the Russians to Constantinople
just as if llie railroad were a farm or a house; but railways
would inevitably force Great Britain into the fight.
She differ so greatly in extent, shape, use and value, from any estates
tion to
annex
would have
the
no
choice but to send her iron-clads to the
Golden Horn, and an army
War .on a gigantic scale, and
of occupation to Egypt.
involving all the powers
Europe, would be the natural and immediate conse¬
previously
Known,
that they needed
a new
form of security*
given by our statutes, dispensing with the old forms
of mortgaging and registry as incongruous and really inapplica¬
ble.
The word mortgage, though still employed in our statutes,
of
is not in common parlance applied to our railway bonds, which
quence.
We have no fear that Russia will take a step
we call by the equally inexact name of “ debentures.”
They are
so
fraught 'with evil, not to herself alone, but to the secured on the revenue only, but primarily and permanently, and
world. Nor do we think that in taking such a step she on the better lines are now almost wholly
replaced by conversion
would find encouragement or approval from any of her into “debenture stock,” that is, perpetual annuities secured
neighbors. The presumption rather is that we are exactly in the same way. Except in one or two unfortunately
fast approaching the end ; that treaty arrangements will peculiar cases, the loan capital is secured over the whole under¬
taking, and additions to the undertaking become liable to the
soon be made
satisfactory to the victor and not unnec¬ debt. This we find ordinarily much safer and cheaper than
essarily] humiliating to the vanquished, and that peace separate loans. The whole rolling stock and plant are by statute
will again smile upon the desolated fields, and that made
part of the undertaking, and free from separate convey¬
ances and from seizure by creditors.
We have no trustees for
prosperity will return to all the nations.
the mortgages, and this is one of the great benefits of our statu-
which
was
THE CHRONICLE
580
[VOL. XXV.
tory forms.
Some trustees are very unsatisfactory, and even the
best cannot be better than the bondholders themselves.
If the
affairs.
paid, a considerable proportion of bondholders,
specified beforehand, can, by combining, get a receiver. The
need for such a combined movement by disinterested holders
prevents improper applications, and secures the selection of a
receiver who acts only for his constituents and without jobbery.
He works the railroad and applies the net proceeds first in pay¬
ment of interest on the bonds so far as ranking equally, and then
in payment of the principal of the short mortgages, gradually as
something better accomplishing their objects, were made law
throughout the United States, they would give American bonds
and shares a value like English, for American railways have
great advantages over ours, and nothing but the want of such
laws has kept down their value.
Experience proved here that
nothing less than these would give safety here, for they have had
to be gradually made more strict and complete.
The main points
funds allow.
Capital cannot be increased either by shares or loans, nor
railways made, nor leases of railways granted or accepted,
nor any considerable new works or enterprise undertaken, nor
anything except matters of ordinary administration performed
without the express authority of the shareholders, given at a
meeting held upon postpaid notices sent a week or so before to
every shareholder, besides longer notices by advertisement.
Most matters have to be approved by at least two, and sometimes
three, such meetings, with a considerable interval between, at
some of which the approval must be by three-fourths of the
votes.
This large majority, and the repeated consents for the
sime object, are important and much-needed safeguards, not
o fly against the managers, but against the shareholders them¬
interest is not
They are strictly
by the courts, and, owing to the prevention of
few
cases.
floating debt and other complications here, their duties have been
comparatively simple and temporary.
In most British companies all the loans rank equally, which
makes the securities much more marketable and valuable, being
parts of a vast homogeneous whole. Their perpetual debts
quoted on London Stock Exchange cannot at present be bought
to yield more than 8£ to 4 per cent, except in the case of one
short new railway, which has~never yet had any profit and is in
default.
are as
follows
:
1.
Receivers have been needed in
held to account
The regulations are mainly in the Companies Clauses
Consolidation Act and the acts of 1867 and 1868. If they, or
new
high values are attained by limiting the proportioh of
paid stare capital, so that there may be a margin of se¬ es’, ves.
Had these rules prevailed in New York, the Erie could not
curity, and by regulating the manner of incurring debt, so that
have
been deluged, as it was, with convertible bonds and shares,
nothing can be put before the bonds ; also providing that bond
and shareholders can see alljthe affairs, can inspect all the books, manufactured in millions for instant use.
No board would have
dared to propose then.
can easily and cheaply have lists of their co-partners, can see
No shareholders would have passed
And if these difficulties could be supposed non-existent,
the holding of each, are protected from having their votes them.
swamped by large operators, and can practically control their the mere time needed for notices and meetings would have
directors if they please.
All these directors must be considera¬ made such things impossible.
ble shareholders ; and classification or rotation of directors se¬
2. Books and accounts must be well kept and all open for free
cures against raids and revolutions.
Bonds cannot have proper inspection by all bondholders at all reasonable times, with power
value nor be safe unless the shares also are protected from to take notes, and by all shareholders for fourteen days before
raiders and “ operators,” for the sure income of the shares is the and one month after each ordinary meeting, which in England
is half-yearly, instead of being annual, as with you.
We think
only margin that gives value to the bonds.
there
is
an
advantage
in
this
shorter
period.
the
Anyhow,
is
forbidden
beyond
a
statutory
limit,
generally
Borrowing
shareholders
should
have
access
to
the
accounts
and
one-third of those shares which are at least half paid-up.
books, at
In ex¬
ceptional unlucky cases, as that of the railway in default above- least as much and as often as here.
8. Half-yearly accounts have to be made up in the excellent
mentioned, powers to borrow somewhat more have been given.
Bonds take precedence of everything except payment for the B'atutory form imposed in 1868, and printed seven days before
land or leases, &c., on which the railway is held.
No railway each meeting. These accounts give a very complete and detailed
view of the affairs, carefully separating capital and revenue,
can bind itself for a loan or bill or note, or in any way but by
the
statutory bonds.
Acknowledgements, called “ Lloyd’s with a probable estimate of capital outlays to come. Each com¬
Bonds,” have been granted by needy railways for work done or mences with last half-year’s balances, to as to be quite continuous.
goods supplied as a temporary resource, but these cannot be The accounts are not composed of isolated items ; all go into the
effectually granted for borrowed money, and do not rank with columns, and are summed up to produce the general balance.
the statutory bonds. Wages of labor are paid weekly or at most The accounts are of a purely practical kind, require no bookkeep¬
fortnightly, and no question has ever arisen about their prece¬ ing but what a company must have for its own sake, and were
dence, as they cannot fall into arrear. No workman would sub¬ formed by taking the best parts from the very various forms
mit to it.
Nor does our law allow any preference for supplies. used by numerous companies, and adding others. Some (par¬
Thus no legal “ floating debt ” can exist to trouble the bond¬ ticularly Scotch) companies work into these forms a good deal of
holders. Notes of hand are sometimes given, but these are well extra information, not compulsory, and more might still be use¬
known by both givers and receivers to be mere debts of honor as fully introduced. These accounts must be lodged with govern¬
regards the companies, so that directors in times of difficulties ment and given to every bondholder who asks them, and they
have had often to become personally bound for enormous sums are sent by post, with the half-yearly report, to every shareholder
on behalf of their companies, trusting to the honor an 1 good
about a week before the half-yearly meeting.
Their uniformity
is of the highest value, not only for comparing the doings of
feeling of their shareholders.
All these provisions have not sufficed to make bonds always different railways, but for watching the doings of one company
valuable. We, like you, had at one time a plague of “con. from half-year to half-year. Till this form was compulsory the
tractors’ lines,” and railways not needed, but got up for the companies constantly changed them, just as many American
making by speculative engineers, contractors and lawyers, with companies still do, with the effect of making comparison impos¬
shares issued on puffing prospectuses, contracts let at monstrous sible.
4. The half-yearly accounts must be reported on, before the
prices and largely paid in shares, &c. These were generally
small concerns and were bad from their birth. This plague half-yearly meeting, by auditors (two in number) appointed, not
ceased for want of dupes to supply money.
The bonds of some by the directors, but by the shareholders. One of them retires
proved almost worthless, but time is bringing a number to have annually, but may be re-elected. These have no likeness to an
some real value.
But some could not go on without a sort of re¬ American auditor, who here would be styled the accountant of
construction, and a law was passed authorizing this on a scheme the company. They are paid, but must have no other office or
approved by three-fourths in value of each class of mortgages interest in the company’s affairs, unless as holders of bonds or
and preference shareholders, and by a meeting-of ordinary share- shares.
Generally, at least one, sometimes both, are public
holiers.
This requirement of separate consents has prevented accountants of the very first class ; if one is not professional, he
any section being taken advantage of.
And till people agree, the is generally an experienced large shareholder. The auditors
receiver quietlyjworks the line for payment of the earlier ciedit
have at all times access to the company’s books, and their report
ors.
must be laid before the meeting of shareholders before a divi¬
II. The real ultimate security for bonds and shares alike lies in dend is declared. They are also entitled to make to the share¬
as far as possible securing good
management. This we do by holders, at the company’s expense, and at any time, any comstatutory provisions, mostly now thirty years old, but gradually ^nunication which they see fit regarding financial matters.
improved and added to, and really effective, except against those
5. No railway company can pay for shares or bonds in another
errors of judgment in which the directors and shareholders went
railway or company, nor spend money on any object outside of
wrong together, and which must always be incident to human its statutory purposes, without special legislative power. If this
Such
debt to
December
581
THE CHRONICLE
15,1877.1
the law in America, some lately prosperous companies
would not now be in such trouble.
6. The list of names and addresses of all shareholders is con¬
stantly open to each of them, and must be annually printed cor¬
rect^, and copies sold at five shillings each to shareholders.
This enables shareholders to see who are their partners, to com¬
municate together, and on occasion to organize oppositon against
board measures or men. The knowledge that this can be done,
makes it rarely needful, and has a constant steadying effect.
7. The voting is not simply by shares, as in America.
Gener¬
ally, there is one vote for every share registered up to ten; then
one for every five up to one hundred shares;
then one for every
ten shares additional.
This prevents large holders, speculative
or otherwise, from controlling these great concerns.
They would
Deed to buy nearly nine-tenths of the shares to be sure of ruling.
No one is on any occasion recognized as a shareholder till regis
tered. The registers are closed for a reasonable time before each
meeting, to secure their being perfectly written up. The recent
difficulties at an Ohio & Mississippi election would be impossible
had been
robbed under form of law.
There have been such
in the
cases
past, but there should be none in the future.
No company can
possession of by another in this country without consent
of a three-fourths majority of votes.
In discussing these subjects the great American mileage re¬
ported, as compared with the English, will be quoted against
change. But the figures don’t admit of comparison, for Ameri¬
cans reckon up all double tracks, sidings, stations, &c., is singletrack mileage, while the English report only the distance be¬
tween termini, and through this defect no one knows the total
length of track laid, which is vastly greater than appears.
My remarks are longer than I desired, though I have labored
hard to compress them, and have excluded many useful details
and illustrations. Our system is composed of many parts, each
of which, though good in itself, would be ineffective by itself,
but combined into a whole they are most efficient.
I was there¬
fore obliged to mention all the chief points, though describing
them most imperfectly.
I know that Americans will at least ap¬
prove our aims, to protect the weak against the strong, the poor
against the rich, the scattered many against the combined and
here.
v
possibly conspiring few, so that small and great investors alike
8. Holders of a certain proportion of shares may at any time
require the directors to call a meeting of the company, and, if may safely employ their resources in the improvement of our
be taken
»
this is not done, may
call it themselves. The directors are bound
obey the resolutions of shareholders’ meetings.
only granted for one meeting named in them,
and practically are rarely asked oy given till the half-year's
reports and accounts are received; thus no directorate has in
possession the ready voting power which many in America keep
continually in hand. It is not wholesome that proxies should be
granted in advance, nor till after learning all that has been done
to
John M. Douglas.
country.
Threadneedle street, London, November 22,
1877.
9. Proxies are
and is
proposed.
siderable.
enormous.
are
November just passed compare
rule, with the returns for the same month last
reports for the month of
The
favorably,
as a
compared with
of notice. The
objects of important rules. (1.) Each grain-carrying roads, though still showing an increase over 1876,
the
must be a substantial shareholder ; the amount required varies •
in little concerns it is small, but in the larger companies it is con¬
10. Directors
RAILROAD EARNINGS IN NOV., AND FROM JAN. I TO NOV. SO.
In point of fact the holdings of many directors are
Some large companies publish, at each election the
year. There are several changes, however, as
the reports for recent months which are worthy
have
fallen off
largely in their percentage of excess—the St.
road, for instance, showing an increase in November of
$126,770, while for October the increase was $365,741, and for
Paul
September $534,169. There is also a material change iu the
exhibit of such prominent companies as Central Pacific and
Chicago & Alton, the former showing a much smaller decrease
than in previous months, and the latter showing a decided turn
in its business and an increase of $24,948 in earnings, against a
considerable decrease in months preceding.
The roads running west from St. Louis, and their Texas con¬
nections, have fallen off somewhat in their earnings as compared
with 1876, while the northwestern roads have been advancihg—
thus, the Missouri Kansas & Texas earnings are about $50,000
less than in November, 1876, the St. Louis & Iron Mountain
shows a trifling increase and the St. Louis & San Francisco, a
slight decrease, and the Missouri Pacific and St. Louis K. C. &
Northern a moderate increase over the same month last year.
From the trunk lines we have nothing except the Canada re¬
holdings of the candidates. (2.) They are paid, though very
moderately. (3.) They are, as trustees, prohibited from having
any other pay or any contract or profit from the company, unles0
as shareholders of an incorporated company.
This is excepted
because the names and designations of all shareholders in such
companies are registered and public ; therefore such contract
would not be secret, and if it were improper it would lose him
both his seat and his character.
(4.) One-third retire annually
but may be re-elected.
This provision makes raids on railroads
impossible, as it would take two'years at least before raiders
could get control. The Erie raiders got possession of the road,
and then made themselves permanent by getting an act for this
rotation system, which, in the circumstances, was properly re¬
pealed. * But no board can be expected to work properly without
reasonable certainty of its policy lasting for a time.
Some ports, and those are quite favorable. As navigation virtually
Americ m boards are said to secure this by manipulating shares, closes with the end of November, we have now entered upoo the
and begging, or sometimes buying, permanent proxies ; and most season when the trunk lines are expected to reap their harvest.
by excluding both share and bondholders from knowing Freight rates from the seaboard westward have been substan¬
affairs or co-partners.
Rotation seems a much more tially confirmed as they stood on first and fourth classes, and
reduced 10 cents per 100 lbs. on second class and 15 cents per
proper way.
100 lbs. on third class.
The rates from New York to principal
On these varied and carefully-matured provisions the compara¬
tive steadiness and value of English railways depend.
They are western cities are now as follows. Compared with former years,
of them
their
own
a return of from 34 to 44 per cent,
little more, combined with the hope of gradual improvement.
Their security does not gain much from the care of Parliament,
largely held by investors for
except last year, these rates are not
or a
which may protect one
ever
of them from another, but which scarcely
protects shareholders from their own errors, or from those
of their directors.
These provisions seem to suit
the free spirit of American
institutions. Iu the best old sense of the words, they are democratic and republican, opposed to oligarchy and “ personal gov¬
ernment.” And they are so distinctly conceived and expressed
that they have caused scarcely any litigation.
Though I have read many American railroad laws, my knowl.
edge of them is necessarily most imperfect., Yet, I venture to
think that no rights would suffer though all the above were
enacted at once in America, except that very important rule as to
the. scale of
voting, which might seriously affect those many
railways which control others by holding a majority of their
shares, unless ex post facto operation were excluded. To disturb
the present state of
power in these cases might be wrong or
right, I don’t venture to say which. But if I, seeking a fair
return, put money into a railway, and a neighboring railway
Hien buys half the shares to control and work the line, not for
its own
advantage, but to throw profit on the buying line, I am
1st.
60Sfc
Buffalo, N. Y.. $
Cleveland, O..
Columbus, O..
Cincinnati,O..
Toledo, O
Indianapolis...
Louisville, Ky.
Chicago, Ill...
DesMuines,Ia.
St. Joseph,Mo.
1
1
1
1
65
80
92
77
95
13
00
68
85
■Classes3d.
2d.
•
33$
.*2
64
39
48
55
46
57
71
62
76
92
80
1 33
1 50
60
1 09
1 t5
1st.
4th.
44$
73
high.
26
30
38
41
35
4i
55
45
81
75
Classes
3d.
2d.
Louis, Mo. $1 27 $1 02$
81
Milw’kee,Wis. 1 00
7- $
St.
Detroit, Mich.
St. Paul,Minn,
Galveston.Tex
OmahP, Neb ..
New Orleans..
Memphis
Nashville
....
Mobile, A’a...
2
2
1
1
1
1
1
70
(O
47
90
46
16
13
40
1
1
1
1
1
56
60
97
55
38
(9
02
1
1 32
,
4th.
1
1
1
1
1
60
42
:5
53
10
20
?5
86
;5
60
45
32
95
1 15
80
82
67
55
78
Chesapeake & Ohio Railroad has also reduced its rates on
freight to correspond with the new trunk
line tariff, and its rates are now about 10 cents on first class, 8
cents on second class, 5 cents on third class, and 3 cents on fourth
class, per 100 pounds, below the all-rail lines. These rates
include the marine risk only by special contract.
The
second and third class
commenting on the grain movement by lake this season, the
Commercial Advertiser of Buffalo gives the following statistics
In
of that port :
"
From the opening of
of grain, exclusive of
navigation to December 1 the receipts
flour, reached 60.524,000 bushels, to
44,553,000 last season, and 52,289,000 in the year preceding. With
one single exception this is the heaviest grain movement in the
history of the port. The exception Is 1873, when the aggregate
for the corresponding months was 65,190,000 bushels.
The years
THE CHRONICLE
532
standing next in order were 1871, which shows 59,932,000 bushels,
1872, showiDg 58,285,000 bushels, and 1862, which showed
58,115,000 bushels. The movement of flour by lake, however,
has been steadily declining for several years.
The receipts
this season stand at 624,000 barrels, to 777,000 in 1876, and
1,311,000 in the previous year. The reason of this is the
increased competition of the railways, and the special in¬
ducements offered by them to the millers of the Northwest.
If they cannot secure secure it at one price, they will be sure to
offer another. The canal figures also compare very favorably
with those for previous years.
The total shipments for the sea¬
son were 48,632,000 bushels, to 27,774.000 for last year, and
35,481,000 bushels in 1875. In 1873 the grain movement by canal
exceeded the present one, standing at 50,854,000 bushels; but
that is the single exception. The following exhibit shows the
average freight rates by lake, on wheat and corn from Chicago to
Buffalo ; also the average canal rates, on the same cereals, for
November, in a series of years
Lake.
,
Wheat.
Cts.
93
103
8‘5
101
12 4
7 4
Years.
1868
1869
1870
i8n..
1872
1873
18 4
1875
1876
...
4 6
5 9
3’7
4 5
1877
,
Canal.
/
12 3
9 7
105
7 5
69
3-9
100
8'7
Cairo & St. Louis*
Central Pacific...
138,^85
12,951
1,597,000
392,846
89'2,000
36,008
..
Chicago & Alton
Chic. Mil. & St. Paul..
Cl. Mr.V.& Del.& brehs
Denver & Rio Grande
Grand Traua. of Canadat
Gt. Western of Canada^.
Hannibal &St. Joseph...
Illinois Cent. (Ill. line)...
..
..
...
Indianap. B. & Western.
$225,793
91,908
$325,500
Atchison Top. & S. Fe ...
Burl. C. Rap. *fe North’n.
15 9
160
1,675,532
3.7,818
76 >,230
30,029
5,979
827,211
721.561
299,757
36,307
105,650
41,780
19,892
22,434
429,614
Int. & Gt. Northern*
119,944
Kansas Pacific
350,418
Missouri Pacific
Mo Kansas & Texas
Pa lucah & Memphis
St. L.A. & T II. (br’chs)..
St. L. Iron Mt. & S
St. L. K. C. & North
St. L. & San Francisco...
€t.L.& So.E.—St L.Div.*
do
Ivy. Div.*
do
Tenu. Div.*
Southern Minnesota
Tol. Peoria & Warsaw...
Wabash
345,311
2:4,181
452,916
312,333
>,332
2,6! 4
28 i,795
29,543
45
43,702
•
•
•
,
10,330
71,450
m
m
a
40,564
$8,062,132
$7,539,936
$706,124
522,146
Net
Cairo & St. Louis*
Central Pacific
...
$2,2h2,«36
212 849
7,447,460
240,762
16,699.795
4,686,177
7,443.882
3.578
354,859
345,874
8,995
.
15,329.107
4,148,774
Chicago & Alton
Chic. Mil. & St. Paul
Cl. Mt. V.& Del.& brehs
Denver & Rio Grande.
Grand Trunkt
Great Western:}:
Hannibal & St. Joseph..
Illinois Centra! (III. line)
Ind. Bloom. & Western..
Int. & Great Northern*.
Kansas Pacific
Missouri Pacific
Missouri Kansas & Tex
Paducah ,& Memphis.
St. L. A. & T.II. (br’chs)..
St. L Iron Mt. & So.....
St. L. Kansas City & N..
St. Louis & S. Francisco;,'
St. L. & S. E.—>‘t L.div.*
do
Ken. div.*
do
Tenn. div*
Southern Minnesota
Tol. Peoria & Warsaw.
Wabash
...
.
706,748
..
8.640.109
3,619,269
1,882,040
4,661,525
1.114,515
1,293,304
3,022,672
3.536,302
2,918,299
..
170,151
...
474,804
3.968.983
2,891,729
1,211,872
556,126
293,998
1,037,583
428,412
8,663,796
3,731,721
1,745,578
4,994,790
1,349,148
1,151,293
2,783,872
3,-90,307
$
1,370,68S
437,403
.
....
23,687
112,452
136.462
Net
145,995
2,920,813
2,514
190,369
414,444
3,494,280
2,875.872
20,218
30,360
474.708
555.146
299,371
4,133,909
4,011,547
122,362
$77,917,941
$78,926,414
5,373
1,224
295,706
$1,869,905
$2,878,379
The following companies have but recently reported their earnings for Oct.:
1877.
1876.
Increase.
Decrease.
$415, <j72
1,290,114
1,5 18,776
$335,131
1,359,269
$79*941
$...
1.542.031
56.725
Total
Net increase
$532,853
$3,755,927
2,091,787
$
$1,664,140
..
15,690
28,*2 3
2,766
55,928
47,832
13,556
11,238
$4,746,647
$4,601,102
$263,097
$
$1,290,114
° 591,691
$1,359,269
555,885
$10,184,936
5,415,980
$10,151,013
5,196,011
$698,423
$303,334
$4,733,956
$4,955,002
$36,533
25,352
$318,861
25,321
247,256
$315,845
252,491
$12,191
$11,181
$71,605
$63,354
earnings
<
$2,500,181
1,445,356
$2)5,53!)
$191,401
$1,117,505
$1,054,825
$172,353
earnings
97,618
Operating expenses & taxes
$143,525
S8,556
859,663
$1,411,487
887,823
$567,750
$523,664
earnings
.
.
Net earnings
Nashville Chatt. & St. L.—
$74, *35
$54,969
New Jersey Midland—
Gross earnings
$72,931
$70,165
Operating expenses
62,280
Net
earnings
Net earnings
earnings
.
Operating & gen. expenses.
earnings
,
$17,306
11, *02
$21,240
17,563
$151,720
103,895
$171,413
125,347
$6,104
$3,677
$47,825
$46,066
$393,151
185,813
$337,223
182,856
$2,561,804
$2,746,787
1,716,634
1,863.646
$207,338
$154,367
$845,170
$883,141
$110,613
$63,359
43,744
39,360
$536,237
316,173
$509,683
353,175
$66,8.»9
$23,993
$220,053
l $156,508
$510,812
229,155
$137,931
$3,043,943
1,834,695
$1,640,232
$1,209,253
-4
earnings..
Paul—
Operating expenses
Net
$3,516 042
1,8:5,310
fT-
$224,348
$231,657
$81,686
33,077
$68,130
30,037
$430,832
285,888
$478,739
2s9,468
$48,609
$38,093
$144,944
$179,271
$59,054
27,393
$47,832
$259,64 4
2),a76
191,185
$299,227
210,786
$24,456
$68,459
$88,441
Operating expenses
Net
213,55)
City—
St. Paul & Sioux
Gross earnings
$
$123,005
$
Expenses
St. L. Iron Mt. & SouthernGross earnings
$518,517
418,703
$10,651
earnings
Southern Minnesota—
Gross earnings
$1,427,413
$571,713
......
•
Philadelphia & Erie—
Gross earnings.
•
$31,665
earnings
have as yet only been brought
Sept.
*
1876.
1877.
^-Jan 1 to Sept. 30—*
1876.
1877.
International & Great Northern—
Gross
$130,954
85,925
$133,102
71,241
$992,124
813,886
$859,060
$15,029
$61,861
$178,238
$313,993
$1,136,412
$1,306,986
$9,103,170
$9,293,876
earnings
Expenses
Net earnings
Union Pacific —
Gross earnings
535,064
Operating expenses
the six months
Oct.
1877.
Houston & Texas CentralGross earnings
Oper. expenses(incl. taxes).
Net earnings
3,860,789
& Texas Central for October
ending October 31 were as follows :
,
545,067
$5,222,381
$601,348
earnings
,
1876.
^-6 mos. ended
1877.
and for
Oct.31.-v
1876.
149,665
176,226
761,827
$1,384, m
931,812
$211,935
$201,114
$441,581
$432,483
$361,650
$377,340
$1,206,408
—Mr.
George Van Derwerker lias just been appointed an
the Importers’ and Traders’ National Bank
assistant cashier of
Derwerker has
several years
that department. He is from the northern part of
where he has a large circle of relations and friends*
of New York.
'
337,223
55,929
68,130
$4,218,278
.
32,707
393,151
70,050
8l,63i
59,064
‘
...
70,163
$445,597
$2,672,254
1.554,749
69,155
377,340
264,507
143,525
$213,760
$345,360
153,959
GROSS EARNINGS IN OCTOBER.
Midland
Philadelphia & Erie
St. Joseph & Western
St. Paul & Sioux City
Sioux City & St. Paul
$316,408
$315,361
189,831
Net
l&7o less favsrabie than it otherwise would be.
New Jersey
$31,251
Earnings and expenses of Houston
$ From January 1 to November 30.
I In the figures of thi9 road for each month of 1876 there was included the
sum of about $10,000, received from rental of cars leaded to other roads; this
item does not appea" in the return for this year, making the comparison with
361,650
$76,101
,
980
1.017,931
231,800
172,353
72,931
$942,675
72^,915
13,313
40,i04
Mobile & Ohio
Nash. Chat. & St. Louis..
661,934
down to October 1:
15,857
1,227,185
621,237
..
$931,312
30,193
Earnings and expenses on the following roads
Three weeks only of November in each year.
t From January 1 to December 1.
Cent
$111,441
95,432
earnings
Sioux City & St.
Gross earniugs
1,008,' 473
exas
$171,533
Kansas Pacific.—
234,603
140,011
238,800
581,133
1,313,637
Chicago & Nouhwest.,&c.
$1,074,526
Clev. Mt. Vernon &Del. and Br’chs.—
Gross earniDgs
$V7,516
♦
Houston & »
$1,048,640
333,265
137,421
Atlantic
Great Western
Chic. Bur. <fe Quincy
$178,878
$238,199
Net earnings
Net
278,,36
,—Jan. 1 to Oct. 31.--*
1877.
1876.
*
1876.
$213,183
Net earnings
27.933
136,197
.
Total
Net decrease
$150,614
82,744
$2,432,750
1,120,327
.1Oct:
207,393
Chic Burl. & Q.uincy—
Gross earnings
Net
Dec.
operating expenses and net
1 to October 31, of all
$2,056,34)
981,817
Operating expenses
1 TO NOVEMBER 30.
1876.
Inc.
$354/30
$2,097.2’0
1,048,610
Operating expenses
Net
GROSS EARNINGS FROM JANUARY
$108,000
$297,9*8
119,030
earnings
Operating expenses
$ For the four weeks ended November SO
47.907
39,583
129,640
Net earnings
Chicago & Alton—
Gross earnings
t For the four weeks ended December 1.
At. Top. & Santa Fe
Burl. C. Rap & Northern..
earnings
8,989
$183,978
184,983
EXPENSES AND NET EARNINGS.
$341,823
—
1,988
Three weeks only rf Novmber in each year.
1877.
& Sante Fe
Paducah & Memphis—
Gross earnings
13,550
82,067
‘246,530
i
5 J5
887
Decrease.
34,955
$17,501,005
$17,255,075
Burl. Cedar Rapids & North.-
437
365,509
430,832
Operating expenses
3,G14
4,7.373
395,6:6
Expenses
7,807
101,075
23,196
2,746 787
360,721
478,739
2)9, <27
Gross
•
85,000
92,080
15,926
518.517
...
...
Atchison Topeka
Gross earnings
Gross
...
22 539
22,102
8,342
1,505,114
1,411,487
r
Net
50,702
•
1,423.057
1,427,413
571,713
2,561.804
...
1877.
.
66,727
8,263
122,011
40,683
114 204
Net increase
*
•
19,451
47,764
18,431
$33,923
earnings for the month of October, ana from January
the roads that will furnish statements for Dublication:
12,831
233,691
333,043
324,836
18,956
48,651
$10,151,013
Operating expenses
93,646
139,395
80,815
Total
73,532
45,030
$10,184,936
...
GROSS EARNINGS,
•
24,948
126,770
81.357
154,857
•
1,779
JANUARY 1 TO OCTOBER 31.
1876.
Increase.
The statement below gives the gross earnings,
$
...
...
Expenses
Dec.
'
14,730
345,537
171,749
452,0i8
.
$ 09,707
44,0:7
Total
Net decrease
Operating expenses
11-4
6 9
42
56
3-3
Inc.
Chic. Burl. & Quincy.
Mobile & Ohio
Nashv. Chatt. & St. L...
New Jersey Midland., .
Philade phia & Erie....
St. Joseph & Western..
St. Paul <te Sioux City..
Sioux City & St. Paul ..
Gross
190
11-5
14 1
140
106
8 7
91
1876.
1877.
16 2
GROSS EARNINGS IN NOVEMBER
1877.
GROSS EARNINGS FROM
<
Corn.
Cts.
Wheat.
Cts.
192
2'.-7
119
Corn.
Cts.
8’3
98
76
9'7
fVoL. XXV
For the last ten years Mr. Van
been well-known as loan
14,121
as
chief of
this State,
some of them
$117,552
men.
being
clerk of the bank, and for
among
the most prosperous of our
business
December
an& dominerciaMSugltal)
fiattet Ulonttarj)
nvrR^OP
ttA
(OH4NOB ir LOJfllON
B
at latest
Neux
4ND ON LONDON
dates.
EXCHANGE ON LONDON.
EXCHANGE AT LONDON—
NOVEMBER ?0.
Amsterdam
Hamburg...
Paris
Paris
Vienna
.
Petersburg
Cadiz
Lisbon.
Milan
...
Genoa
Naples....
Madrid....
New York .
Rio de Janeiro
Buenos Ayres
Valparaiso....
Bomoay
Calcutta
12.2% @12.3%
12.4%@1*.4%
short.
3 months.
44
Antwerp...
8t.
RATE.
DATE.
Amsterdam
Berlin
Frankfort
TIME.
LATEST
RATE.
TIMS.
ON—
25.40
2068
25.15
44
@25 45
@20.72
@25 25
short.
3 months. 25.32% @25.87%
44
12.15 @12.20
44
20.68 @20.72
44
20.68 @20.72
44
24 @24%
short *
12.12
Nov. 30.
short.
*4
3 mos.
44
short.
25.19
20.43
25.17
3 mos.
118*60
Nov. 30.
Nov. 30.
44
short.
44
44
3 mos.
Nov. 26.
20.43
20.43
24 5-16
3 months. 27.85
27. H5
27.85
@27.90
@27.90
@v7.<J0
<i6%@47%
Nov." 30.
Nov. 26.
Nov. 30.
Oct
9.
OctVit.
30 days.
Is.
is.
the domestic affairs of France,
8@13-16@.
8@13-l6cL
Hong Kong..
Shanghai
Alexandria...
Nov. 29.
Nov. 29.
Nov. 26.
Nov. 26.
JL Nov. *S.
27.25
3 mos.
48.10
4.62
days.
90 days.
90 days.
6 mos.
LFrom our own correspondent
London.
short.
60
44
44
“
i
3 mos.
...
188!
24%
*41%
is. 9%a.
! s. 9% d.
3*. 11 %d.
5S. 5\(i.
96
1887
1881
U. S. 1867, 6s
Do funded, 5s
Do 10-40, 5s
Do funded, 4%s, issued
Louisiana Levee, 8s
Do
6s
Massachusetts 5s
Do
Do
Do
Do
Do
1904
at 103%
1675
Do
5s
5s
5s
53
of the Bank of England have this week reduced
quotation for money from 5 per cent, at which rate
it was fixed on the 11th of October last, to 4 per cent. The alteration
was not unexpected, but as the rate had been raised to 5 per cent
solely in consequence of the bullion movements, and was main¬
tained at that point owing to the uncertainties which prevailed
about the future, no positive opinion had been formed early in
the week as to the probable decision of the Bank Court. The
return published this week fully justifies the course pursued ;
and when ii is borne in mind that for a long time past the Bank
has been unable to transact discount business, owing to the low
rates current in the open market, an alteration it is at once per¬
ceived was unavoidable. As long as the open market was dis¬
counting bills at
per cent beneath their own minimum, very
little discount business could Be acquired, and hence we find
that “ other securities," which amounted to £19,064,149 when
the Bank rate was advanced to 4 per cent, have fallen to £17,054,368, or to the extent of about £2,000,000. On the other hand,
the supply of bullion, which was then £22,788,316, and which
has since been as low as £22,278,557, has increased to £23,311,547,
while the reserve of notes and coin, after being as low as
The directors
their minimum
108
@ 52
@ 52
@106
@107
@107
@ 35
@ 35
@ 62
1905
Atlantic Mississippi & Ohio, Con. mort., 7s... .1905
do
Committee of Bondholders’ctfs.. ...
Baltimore & Potomac (Main Line) 1st mort, 68.1911
do
(Tunnel) 1st mortgage, 6s,
Cent.Railway).1911
Burl. Cedar Rapids <te No. RR. of Iowa, 1st mort..
Central of New Jersey shares
1899
Central of New Jersey, cons, mort., 7a.
1896
Central Pacific of California, 1st mort.. 6s
Do Califor.& Oregon Div.lst mort.gld.,bds, fis.1892
1890
Do Land grant bonds
Del. & Hud. Can. 7s
1875
Detroit & Milwaukee 1st mortgage, 7s.
2d mortgage, 8s ..
Do
Erie $100 shares
Do reconstruction trustees’ assessm’t, $5 paid..
$4 paid...
Do
do
$3 paid...
do
Do
$2 Daid...
Do
do
Do preference, 7s
Do convertible gold bonds, 7s
Do reconstruction trustees’ certificates, 7s
1911
Galveston & Harrisburg, 1st mortgage, 68
Illinois Central, $100 shares.
1923
Lehitrh Valiev, consolidated mortgage, (5s
...1891
Marietta & Cincinnati Railway, 7s
.
Missouri Kansas & Texas, let mort., guar,
bonds, English, 7s
New York Central & Hudson River
New York Central $100 shares
gold
1904
mortg. bonds.7
94
market solely with the object of securing a
large stock of gold to supply foreign requirements, and to main¬
tain a high quotation as long as the future of the bullion market
was in a state of uncertainty, the directors could simply banish
themselves for an indefinite period from the discount market, as
it is quite probable that the uncertainties of the bullion demand
are far from disappearing.
The directors have certainly pursued a
judicious course in reducing their rate. They may now antici¬
pate some increase in their discount business, but this cannot be of
any great extent, as mercantile wants are few and they show no
indications of increasing. Should the demand for gold revive,
the process of returning to 5 per cent is a most simple one ; but
as far as trade and the resources of the Bank of England are
concerned, no higher quotation than 4 per cent is justified.
The demand for money throughout the week has been exceed¬
ingly moderate, and the rates of discount have had a downward
tendency. Annexed are the quotations :
Per cent.
rank rate
4
Oien-marketrates:
30 and 60days’bills
3
months’bills
3%@S%
] Open-market rates:
j 4 months’ bank bills
I
6 months’bank bills
3%@3%!
per cent.
3%@3%
3}4@3%
4 and 6 months’ trade bills. 3%@4
The
joint-stock banks and discount houses have altered their
deposits, but no uniformity exists among them. The
London & Westminster Bank allows 2-J- for money at call, and 3
rates for
AMERICAN STERLING
@ 96
@ 26
@ 12
@ 6
@ 26
@ 12
@ 6
@ 30
@ 20
@ 85
@ 96
24 ® 26
11 ® U
5 @ 6
25
@ 30
83
@ 85
25 @ 30
@ 88
@ 60
13 @ 15
67 © 69
107 @108
95 ® 97
91 © 93
91 © 93
30 ® 40
80 © 40
io%@ 10%
15 ® 17
14 ® 16
25 @ 27
24 @ 26
22 @ 24
45 @ 47
45 ® 47
79 @ 81
72*© 73%
93 ® 95
.©
1902
1910
©
©
©
22
22
21
©
©
©
©
79 ©
74 ©
93 ©
44
44
9
:©
23
46
46
61
75
95
•
•
•
53
@ 55
@121
@103
@ 38
@ 30
120
@121
93
@ 95
....@
....@
107 @109
33 @ 38
23 @ 30
31 4© 32%
101 @106
94 @ 95
154© 16*
101 @103
103 @105
107 @108
38
16
30
30
06
05
01
@
@
@
@
93
@ 95
58
16
30
@ 40
@ 19
...
...
40
19
35
35
@107
@107
@106
30
1(6
105
104
@ ...
@ 35
S.
GOLD,
German Gold Coin
1873.7s.1903
1876
by Erie R’y.
1895
@ 35
@ 35
@107
@107
@106
....@ ...
80 @ 35
South American
Doubloons
United States Gold Coin
.
....
.••
....
•. «
d.
0. d.
standard. 77 9%@—
per oz. standard. 77 10% © ....
per oz., nominal. 75 0 @ ....
per oz. 73 9 @ ....
peroz. 76 5 @ 76 6%
per oz* 7b 3%@ ....
per oz.
Bar Gold, fine
Bar Gold, reflnable
cent for money
with notice.
14
13
97
98
96
49
40
10
16
14
24
24
@ 55
...
Spanish Doubloons
count
©
©
©
©
©
9%@
...
...
53
120
107
33
28
67
107
95
91
94
30
30
@ 60
@ 15
© 60
@108
1902 30
1909 103
108 @109
@109
Chicago & Alton sterling consol, mort, 6s— 1903
(@
@
Chicago & Paducah 1st mort. gold bonds, 7s...1902
92 @ 91
89 @ 91
Cleveland, Columbus. Cin. & Ind. con. mort... 1913
@
Eastern Railway of Massachusetts, 6s
1906
The principal features in the bullion market have been an
arrival of rather more than half a million sterling from Australia
and a purchase of about £200,000 on account of the German
Government. Nearly £200,000 in gold and silver have also arrived
from the West Indies, while the steamer for the East has left
with £117,000 in silver for Bombay.
The Bank, in addition to
some supplies from abroad, has also received about half a million
in gold coin from Scotland, which accounts for the large increase
of £741,007 in the stock of bullion.
The silver market has been
very dull, and prices have had a downward tendency.
The quo¬
tations for bullion are as follows :
notice of withdrawal. The National Dis¬
Company allows 3 per cent for money on demand and at
notice, but some of the banks and discount houses give
per
per cent for money at
.1892
1874
Re-organization 7s
leased lines rental trust, 7s.1902
Do
do.
do.
do.
Western exten., 8s
Do.
do.
Do. '
do. 7s, guar,
Baltimore & Ohio, 6s
Do
6s
Do.
6s..
Burl. C. R. & Minn., 7s
Cairo & Vincennes, 7s
@ S8
86
56
BONDS.
Allegheny Valiev, guar, by Penn. R’y Co
1910
Atlantic & Gt. Western consol, mort., Bischoff.
certs, (a), 7s
Atlantic & Gt. W.
Atlantic & Gt.W.,
@106
@,07
@107
@ 35
@ 35
@ 62
24 @ 26
11 @ 12
5 @ 6
£9,431,126, has risen to £11,547,182. The advance in the Bank
1890
rate to 5 per cent, therefore, although its action has been tardier Oregon & California, 1st mort., 7s
do
Frankfort Commit’e Receipts, x coup.
than usual, owing to the inability of the open market to follow the Pennsylvania, $50 shares
31%@ 32%
Do.
1880 104 @106
1st mort., 6s
91%
934©
something,
is
now
movement, has accomplished
and as the Bank
consol. einK’gfund mort. 6s
Do.
1905
© 17
Philadelphia
&
Reading
$50
shares
-.
16
in a position to meet all ordinary wants, to keep itself out of the
Pittsburg Fort Wayne & Chicago equipment
101 @103
discount market was not only impolitic, but was undesirable.
bonds (guar, by Pennsylvania R. R. Co.), 8s
If
104 @!G5
1889
Union Pacific Land Grant 1st mort., 7s
the Bank were to conform to the view of keeping the rate so Union Pacific Railway, 1st mortgage, 6’s
1898 1C7 @108
much above the open
@105
@106
@107
AND SHARKS.
Albany & Susquehanna cons. mort. 7s. Nos.501
to 1,500, inclusive,guar, by Del.&Hud.Canal. 1906
Atlantic <fc Great Western 1st M., $1,000, 7s... 1902
2d mort., $1.000,7s..1902
Do
Do
3d mort., $1,000
1902
Do 1st mort. Trustees’certificates....
do
Do 2d
do
....
Do 3d
do
do
(guar, by Pennsylvania & No.
106*@10?
@109
103% @104%
41 @ 52
42 @ 52
103
10 3
105
104
105
105
30
33
60
@105
@105
@107
6s*
96%@ 96%
110%@J11%
It'S 4 @10*%
1083* @1< 8%
108
@1< 9
104%@104%
1889
1891
1895
New funded 6s
@107
@109%
106%@107%
1888
AMERICAN DOLLAR BONDS
Saturday, Dec. 1, 1877.
106
109
1894
1900
5s
© 97%
no%@n«%
Virginia stock 5s
Do
]
1885
5-20
Nov. 24.
Doc. 1.
Redm.
Consols
Do
51* @51%
days.
political aspect, both as regards the Eastern question and
continues to check active business
on the Stock
Exchange; but, on the whole, the tone is firmer.
Russian victories have caused the value of Russian bonds to rise,
but the more prominent feature has been an advance to 97£ in
the value of Consols.
This, however, must be regarded not as a
sign of prosperity, but of the restricted channels which exist for
employing money profitably. Erie railway shares and bonds
Lave been attracting attention of late, and as regards other
American railroad securities the tone has been firm.
The closing prices of Consols and the principal American secur-ities at to-day’s_ market, compared with those of Saturday last,
are subjoined :
The
United States
47%@47%
90
583
THE CHRONICLE.
15,1877.]
581
THE
Bar Silver, fine
Bar Silver, containing 5 grs.
Mexican Dollars
BIX.VJ5B.
d.
per oz.,
....per oz.,
per oz.,
gold
Spanish
Dollars (Carolus)
Five
Franc Pieces
Q.uicksilver, £7 7s. 6d.
last price
la*t price
last price
54
54%
52%
per oz.
per oz.
Discount, 3 per cent.
...
....
CHRONICLE
d.
<&
@ ...
(&....
@
...
....
Annexed is a statement showing the present
position of the Bank
of 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’s Mule twist, fair second quality,
the Bankers’
Clearing House return, compared with the
and
four
previous years:
1873.
£
1874.
£
1875.
£
1876.
£
1877.
£
25.935,336
6.2:0,&06
26,656,138
4,702,126
17,769,211
12,879,615
18,913,202
28.050.162
3,876.277
27,902,493
27.079,688
3,070,430
22,678,560
13,852,842
20,053,932
8.639,905
Circulation—including
-
bank
poet-bills
Public deposits
Other
deposits
18,547,299
Government securities. 13,277,161
Other securities
18,198,818
Reserve of
notes and
coin
20,376.485
16,752,031
17,051,368
10,696,140
16,902,031
11,547,182
19,951,315
23,313,685
29,456.189
53,311,547
6 p. c.
3 p. c.
2 p. c.
95%
97%
2d.
11,488,845
Coin
and bullion in
both departments.... 21,667,120
Proportion of
6,538,842
24,916,197
15,739.297
13 578.372
reserve
to liabilities
Bank-rate
Oonsols
5 p. c.
47 *v2 p.c.
4 p. c
92%
61a. Od.
8l/»d.
92%
93%
43a. 6d.
46s. 8d.
7%d.
6Ja d.
6%d.
51?. 5d
6 7-16d.
Is. l%d.
la. Od.
Is. Od.
ll%d.
!0%d.
English wheat.av. price
Mia. Upland cotton
No.40s, male twist,fair
id quality
5V14p.c.
48s
Clearing House return.143,876.O00 135,623,000 129,724,000 80,812,000 81,384,000
The following are the current rates of discount at the
leading
cities abroad:
Bank
rate.
$
Paris
...
Amsterdam
Open
Bank
Open
rate.
market
$ cent, per cent
market.
cent. percent.
2
1%@2
Brussels
Turin, Florence
Berlin
4
Frankfort
Vienna and Trieste
4
....
4%
4%@4%
6
6
6
Madrid, C&dizaud Barceloua
Lisbon and Oporto
8t. Petersburg
...
...
...
6
@8
5
5%
4
Leipzig
....
Genoa
Geneva
New York
1 Calcutta
1 Copenhagen.
1
5
454
4%
..
.
4
4
..
....
7
7
M
of the trustees, approves of the scheme in the form of another
meeting for December 7.
A very important case has been decided this week
by the
Master of the Rolls, Sir George Jessel.
The plaintiffs in it were
Messrs. Williamson &Co., of Calcutta,and the
defendants, Messrs.
Barbour Brothers, of Manchester. The complaint was
that, by a
series of overcharges for commissions
extending over twenty years
the Calcutta firm had been defrauded of about £100,000. The
plain*
tiffs, therefore, applied that the books should be opened with a view
to ascertain what was the
precise claim that should be made.
One great cause of complaint was that the Manchester firm
pur¬
chased grey shirtings, and got them bleached, as
agents, for the
Calcutta firm.
They took discounts from the bleachers, which
they did not, it was alleged, allow to their principals, in addition
to which tli*y charged a profit on the invoices.
The Calcutta
firm asked, therefore, that the sums thus
charged in excess should
be restored.
The Master of the Rolls remarked that the
plaintiffs
had proved four cases in which the defendants did add to the
gross price of the goods purchased, and, therefore, he must
assume that th«v did, in some
instances, make an addition to the
gross price.
convenes a
He was satifflcd that when commission
agents bonght grey goods, it was
not the custom of Manchester house * to charge
their correspondents an in¬
creased price • this, therefore, was a proved
overcharge,and in his opinion it
was a fraudulent overcharge in the sense in which the
word “fraudulent” is
used in a court of justice. As regards the
insurances, what right had the
defendants to charge for effecting insurances with
themselves, or what excuse
for charging a larger duty than was
actually paid ? He could characterize
these chargee oniy in the tame
way as he had characterized the additional
charge on goods purchased.
The defendants contended that they were
entitled to add wh«t they lik< d to the
charge for converting grey good9 into
white goods, provided they did not
charge more than the market price for
white good*; but there was no such custom of the
trade, and these over¬
charges he must characterize in the same terms as the others. In some
instances the defendants need the plaintiffs’
bills, and to a considerable
amount, and it was >uggested that the defendants were the plaiutiflV
bankers,
and then that by mistake the plaintiffs’ bills were mixed writh
bids of their
own, and all discounted together; but, in his lordship’s opinion, it was not a
mistake, but a fraudulent use of the bills. His lordship made an order for
opening the accounts, limiting the liability of the several defendants io what
took place during the time they wore
respectively partners, and directed the
defendants to pay the costs of the suit.
Lees
disposition is shown to sell wheat, and during the last
days choice qualities of produce have realized rather more
money. Nearly 1,500,000 quarters of wheat are estimated to be
few
but which
are
by
no means in
since harvest:
1877.
1876.
cwt.
cwt.
Imports of wheat
.'....15,307,445
1,794.121
Sales of home-growu produce
10,711,500
9,40?,005
Total
1875.
cwt.
1874.
cwt.
11,645,149
12,038,500
17,593,869
1,540,419
10,708,000
27,813,067
23,011.171
29,842,318
567,727
317,604
74,418
27,081,791
130,727
.27.215,340
22,693,567
29,767,900
26,951,064
Exports of wheat and flour
Result.
6%@7
by the India Council that the weekly drawings
on India will be resumed on
Wednesday, the 11th of December,
oar which day, and on the
following Wednesday, bills to the
amount of $200,000 will be placed.
No tenders for telegraphic
transfers will be received, and not more than £80,000 will be
drawn on the Government of Bombay.
The sale following that
of the 19th December will be on Thursday, the 27th of December.
A circular has been issued by Mr. E. J. Halsey to the trustees
of the first mortgage bondholders of the Midland
Railway of
Canada, setting forth a scheme to enable the company to resume
payment of full interest upon its first mortgage bonds, which,
under existing circumstances, cannot be done. Mr. J. O.
Surtees,
circular, and
appear considerable,
actual requirements.
The falling off in the deliveries
of home-grown produce, compared with last
season, is now rather
important, being about 306,000 quarters, in addition to which the
quality and condition of the produce are poor. Our stocks are
very limited, and the trade now perceive that supply and demand
are
likely to be rather too nicely adjusted throughout the Winter
months. This fact induces holders to hold on for higher
prices,
more
especially as the New York market has been rising, and the
Californian supplies will fall below the average.
According to the official returns, the sales of English wheat in
the 150 principal markets of England and Waletr
amounted,
during the week ended November 24, to 39,524 quarters, against
50,713 quarters last year, and in the whole Kingdom it is esti¬
mated that they were 158,200 quarters, against 203,000
quarters.
Since harvest, the deliveries in the 150 principal markets have
amounted to 617,967 quarters, against 694,520 quarters, and
in
the whole Kingdom it is computed that they have been
2,472,000
quarters, against 2,778,100 quarters in the corresponding period
of last year.
The deficiency amounts, therefore, to 306,000
quarters, and a comparison outlie produce is, in addition, unfavor¬
able to the current year. Without reckoning the supplies fur¬
nished ex-granary, it is computed that the following
quantities
of wheat and flour have been placed upon the British markets
our
1.565,6^6
C%@T54
.
It is announced
one
of
Imports of flour
Rome
4%
Hamburg:
3%@3%
and
afloat, which
excess
fVot. XXV.
Aver, price of Eng. wheat for season ' 55s. 4d.
47a. Od.
47s. 3d.
1,274.392
14,162,250
45s. 3d.
The
following statement shows the imports and exports of
produce into and from the United Kingdom since harvest,
viz., from the 1st of September to the close of last week, com
pared with the corresponding periods in the three previous years :
cereal
IMPOSTS.
1877.
Wheat
cwt.
•
Barley
15,807,446
Oats
Peas
Beans
Indian Corn
Flour
1876.
17,593.669
3,456.885
426.958
2,991,746
2,592,185
277,478
1,214,684
11,065.708
1,565,666
982,383
5,785 833
1,540,419
3,1314.852
.*
....
1,126,844
7,133,019
1,'".94,121
1875.
9,407,005
1874.
11,645,149
4,572,300
2.373,086
375,610
682,176
3.252,382
1,274,392
EXPORTS.
Wheat
.cwt.
555,S97
Barley
Oats
Peas
Beans
Indian Corn
Flour
42,464
.
..
5,938
7,237
33,075
11,830
c0\202
5.1i 8
40,591
6,455
10,713
149,930
13,402
7,167
72,414
109,279
50,018
23,394
4,147
5,459
6V0>
8.252
7,569
4.513
763
31,361
21,448
Notwithstanding that for political reasons Frencii buyers are
operating with great caution, the public sales of colonial wool
are progressing with moderate spirit, and the opening improve¬
ment of ^d. to l^d. per lb. is steadily supported.
The improve¬
ment is due almost entirely to augmented home purchases. It
appears that after the economies which, for a variety of reasons,
have been enforced upon the community for some years past, th*1
position of the public has decidedly improved, and with the ad¬
vent of winter and with wool at a low price, increased purchases
have been made. The heavy stock of goo Js in manufacturers’ hands
has in consequence been considerably reduced, and the way seems
thus more clear to making increased purchases <>f the raw material.
Our imports of wool this year have been the largest on record,
and the same may be said with regard to our exports of the raw
material ; but the shipments of woolen goods have fallen off.
This, however, applies more to woolen goods worked up with
other materials than to pure woolen manufactures. This is an im¬
portant feature, which may be attributed to tbe fact that the raw
material is cheap.
The accounts received regarding the Aus¬
tralian clip are not favorable ; but as very little effect has been
produced either here or in Australia, the reports transmitted to
this country would appear to be exaggerated. Low prices seem
to have had a depressing influence upon the authors of commer¬
cial reports in Australia.
London" Mining Market.—In reference to this market, the
Mining World says: “ Business has been very dall during the
week, but tin shares have slightly improved. The shares prin¬
cipally dealt in were—Cam, Brea, Dolcoatb, South Caradon,
Van, East Yan, Great Laxey, North Laxey, Rookhope, Parys
Mountain, Wheal Grenville, Pateley Bridge, West Pateley Bridge,
Great Holway, West Tolgus and Devon Great Consols.
“In Foreign and Colonial Miues aconsiderable amount of business has been transacted in Richmond Consolidated, Eberhardt
and Aurora, Last Chance, Flagstaff, Cape Copper. Linares,
Chicago, United Mexican, New Zealand Kapanga, Frontino and
Bolivia, and St. John del Rey.”
gBESa—IHM
*
781
December
Bn:eiUli Market Reports—Per Gable.
reported by cable, as shown in
pool for the past week have been
{he following
summary:
London Money and Stock
Market.—The bullion in the Bank
England has increased £312,000 during the week.
ol
Thar.
Wed.
Tne».
Mon.
Sat.
account.. 95 9 16
Frl.
95 5-16
108*
107*
105*
103*
Liverpool Breadstufle Market.—
b.
d.
s.
d
6
2
2)
6
Flour (extra State)
$)bb]'2S
Wheat (R. W. spring). $ ctl 10
“
(Red winter)
44
(Av. Cal. white).. 44 12 7
««
(C. White club)... 44 12 10
Cbrn(n.W. mix.) $ quarter 29 6
12 7
12 10
29 6
36 9
“
Peae (Canadian) $ quarter 36
9
Liverpool Provisions Market.—
87 0
57 0
37 0
43 0
64 0
Beef (prime mess) # tc. ... 88. fl
Pork (W’t. meB8)new$bbl 57 0
Bacon (l’g cl. in.)new$ cwt 37 0
Lard (American)....
Cheese (Am. fine)....
44
44
43
64
0
0
30
43
61
Liverpool Produce Market.—
Rosin(common)... #cwt..
(fine)
g.
d.
5
3
5
10
0
10 0
(spirits)
3
&
Spirits turpentine
” 35 0 25 0
25
London Produce and Oil Markets.—
Sat.
£
8.
d.
Line’dc’ke(obl).fltE. 9 0 0
Linseed (Cal.) $ quar.
52 6
Sagar(No.l2D’ch8td)
ontpot,
cwt
“ tun.
‘
.76
%}
44 .36
jmoil
"
ale oil
8
23 6
0
61
b.
Mon.
Tuee.
d.
£. s. d. J
i
0
9 0 0
5?
23
0~ 0“
76
0 0
86
6
6
0 0 76
0 0 36
0
0
11
12
12
29
36
9
s.
0
0
©
10
Wed.
8:i
56
36
43
-T o o
40
0
3
34
4
0
7
86
d.
6
0
8.
0
85
43
86
56
0
0
64
5
10
b.
7*
40
*5
40
25
0
0
Wed.
£ 8. d.
0
0
9
0
0
9 10
51
0
6
6
00
0
0
0
23
76 0
78
36 0
36
0
28 0
6
0
0
0
•23
76 0
0
36
23 5
6
d
6
“
44
4
0
29
6
38
9
fi.
3
0
10
11*
7*
40
25
0
0
86
0
23
5
an
increase
total
|5,482,058 the preceding week and f4.718,585 two weeks pre¬
vious. The exports for the week ended Dec. 11 amounted to
$6,583,197, against $6,869,561 last week and $7,424,413 the pre¬
vious week. The exports of cotton for the week ending Dec. 12
were 9,^243
bales, against 9,664 bales the week before. The fol¬
lowing are the imports at New York tor week ending (for dry
goods) Dec. 6 and for the week ending (for general mer¬
chandise) Dec. 7:
FOREIGN IMPORTS AT NSW
YORK FOR THE WEEK.
1875.
1876.
1877
$1,024,670
3,876.743
$764,133
3.098,465
$1,165,838
4,572 6i9
*5.53 U353
$4,90!, 113
Previously reported.... 365,1*6,5528
316.444,236
$3,362,593
201,310,833
*5 733,487
297,059 079
$311,345,049
$265,073,4S6
$302,797,566
1874.
Dry goods
$931,358
4,600,000
General merchandise..
Total for the week.
Since Jan. 1
In
our
$370,677,836
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
Dec. 11:
EXPORTS FROM NEW YORK FOR THE WEEK.
For the week
Previously reported.,..
1875.
$6,5)0,960
235,940,282
269,321,960
1877.
1876.
1874.
$6,541,813
$6,662,540
254,591,124
249,000
341,307 63
285,039 81266.235 20
345,500 00
280,173 89
4 .9,865 50
Gold.
$277,230 96
295,353 67
72
259,918
1,024,933
346,943
35i,965
31
14
83
Currency.
$663,393 81
1,624,941 64
557,772 59
555,180 80
751,193 25
636,728 64
$1,559,000 $1,745,639 90 $8,693,212 29 $2,584,354 83 $4,179,215 73
102,583,525 37
101,766,210 44
39,768,734 42
39,281,730 98
B'ks.—
Oct.
SeDt.
$
Nov.
15,208,000
$1,768,500
2,686,850
845,130,550
14,373,000
576,000
171,600
$2,504,700
2,186,900
338,002,450
$6,533,197
270,659.265
Since Jan. 1
$275,863,773 $245,181,262
$561,253,634 $277,24-2,462
The following will show the exports of specie from the port of
New York for the week ending Dec. 8, 1877, and also a com¬
parison of the total sin^e Jan. 1 with the corresponding totals
for several previous years :
14,436,552:
1.061,232
11.987,204
3,150,604
25,085,063
30,659,712
356,914,932
351,340,238
1.326,540
555,599
3,938,2*5
1,385,767
319,219,599
1,412,120
315,891,949
1,482,120
3,855,000
4,914,000
7,067,000
695,000
101,000
288,0 0
7,837,000
3,452,060
3,403,000
Total
$15,441,000
Treasury Movements —
Balauce iu Treasury—Coin.
119,152,043
Currency
14,206,417
Currency held for re¬
demption of frac¬
tional currency...
8,835,468
Com certificates outstanding
$17,340,000
Philadelphia.....
o
0
0
Week.—The imports last
in both dry goods and general
imports were $5,'738,487, against
The
841,000
230,000
136,000
344,000
.
6
Imports and Exports for the
showed
$278,383 81
1874
Total now on deposit, including liquidating
banks
Retired under act of January 14, 1875
Total retired u: der that act to date
Total amount of greenbacks outstanding..
National Bank Circulation.—
New circulation issued.
Circulation retired
Total circulation outstanding—Currency...
Gold
Notes received for redemption from—
New York
Boston
'
Cincinnati
...
Chicago
.*
Miscella
laneous
-
merchandise.
-Payments.
Currency.
$511,535 37
784,891 43
273,383 94
1,160,391 85
439,144 17
Legal Tender Notes.—
Deposited in Treasury under act of June 20,
Frl.
d.
5
$259,000
U.S. Bonds held as securityfrom Nat.
Bonds for circulation deposited
Bonds for circulation withdrawn
Total held for circulation
Bonds held as security for depo its
0
0
(Stfmmcrcial anil JllisceUaurous News.
week
Sub-Treasury have been
Comptroller of the Currency, Hon. John Jay Kaox,
following statement of the currency movements and
Treasury balances for three months past:
0
23
76 0
0
0
0
14,974.152
6,764,924
3.010,809
9,579,890
From the
we have the
6
0
54
35
43
64
Gold.
.....
Total
Frl.
».
d.
86
JO
II
12
13
14
Customs.
Balance, Dec. 7
balance. Dec. 14
Frl.
£ s. d.
9 10 0
51 6
Thar.
£ b. d.
9 10
52
“
11
12 7
12 10
11*
7*
11*
“
10
0
0
0
$11,533,494
1870.
1869
1868
1867
1866
follows:
Dec. 8
29
d.
6
0
...
12,743/81
6,170,744
18,520,688
5,.:05,838
8,582,209
•Receipts.
8.
0
4
0
7
10
6
9
Thar
d.
5 3
10 0
d.
3
0
$17,787,616
as
Frl.
Thar.
Wed.
s.
11*
7*
V4
40
3
d.
0
Same time in—
1874...
“
Thar
b. d.
12 10
20 6
e.
s.
*
Tallow(prime City).. $1 cwt. 40
30
10
11
12
Tacs.
d.
5 3
10 0
Mon.
d.
Sat.
b.
Tues.
s. d.
86 6
56 0
Mon.
8. d.
Sat.
8. d.
d.
0.
30 0
10 4
11 0
1-2 7
12 10
2
29.4 66
36 ~
9
2
10
Wed.
Tuee.
Mon,
Sat.
$14,363,264
Same time in—
The transactions for the week at the
105*
105*
108*
10S*
108*
106*
• 407*
IC6*
106*
101*
New 4*0
105*
105*
104*
103*
Liverpool Cotton Market.—dee special report of cotton.
0.8.60(5-208) 1867.... 109*
0,8.10-408
108*
5b Of 1831
167*
514,326,916
Total since Jan. 1, 1877
1873
1872
1871
95 8-16
95 5-16
95)*
95 5-16 95 5-16 95*
95'7-IG
95 9-16 95*
95?
109*
1C9*
xl05*
5-16
ComoIb“ for money.. 95
Previously reported
the markets of London and Liver¬
The daily closing quotations in
585
CffitONlCLfc
THE
15, 1877.J
.
973,000
72,000
141,000
133,970,214
8,816,896
9,806,002
32,391,400
Sedalia City (Mo.) Bonds.—The holders of the City of Sedalia
(Mo.) bonds have offered to surrender to the city its bonds bearing
10 per cent interest, and take instead an equal amount of five
per ceot bonds, to be issued uuder the new funding act of Mis¬
souri.
This was done because of the burdensome debt, depre¬
ciation of property in the city, and the hard times.
By the arrangement the principal of the debt is preserved in
new bonds have additional guarantees under the present
funding laws, and the city, it is said, can meet the new bonds
with promptness and unquestionable certainty.At a meeting of the Sedalia bondholders, held in Boston, this
proposition was unanimously approved by the representatives of
a
larger part of the city debt. Messrs. George Wm. Ballou & Co.,
bankers, No. 8 Wall street., New York, and No. 73 Devonshire
street, Boston, have been appointed fiscal agents to receive tho
new bonds and make the exchanges, from whom bondholders can
learn full particulars.
Tennessee State Debt.—The Legislature has shown a decided
unwillingness to settle with the bondholders at CO per cent. On
full, the
to the Legisla¬
announcing the receipt of assurances from creditors of the
State that they would modify the propositions of arbiters, as sub¬
mitted in his proclamation calling the extra session, so as to
make the basis of the settlement of the S ate debt fifty cents
instead of sixty. He recommended an adjournment sine die in
order to convene the Legislature in a second extra session to con¬
the 11th instant Governor Porter sent a message
ture
sider the latter proposition.
The Legislature thereupon ad¬
journed tine die at 3:30 P. M. and convened in second extra ses¬
sion at 4 o’clock by proclamation of the Governor, who sent
in h5s message next morning in relation to a modified proposition
from the State’s creditors.
Virginia State Debt.—In the Senate, December 10, a series
were introduced, opposing increased taxation, fa¬
Mex. silver bars..
the
development
voring
and protection of the present system of
London
Amer. silver bars.
20.000
public education, a reduction in the expenses of the State govern¬
Total for the week
$99,533
ment, a readjustment ot the State debt, and payment *f the
Previously reported
25 278,167 interest thereon on terms not dictated by the creditors of the
Total since Jan. 1. 1877
$25,377,775 State, but in accordance with the will of the people; opposing
the operation of the funding act of 1871, expressing a deter8ametime inSame time iu—
1876
mination to pay creditors all that the diminished resources of the
$57,814,691
$42, 8)2.417 I 1870
1875
30 917,214
67 9M.745 1 1869
State will justify, and repelling the idea of repudiation. These
1874
51 391.234 I 1868
69,837,446
were tabled and ordered to be printed.
1873....
48 140 769 | 1867
47.093 994
1872
69 .0.6,657 | 1865
60 491 607
—The long-established cotton firm of Nourse & Brooks, which
1871.
61 .234,146 I
was dissolved a short time since by the death of Mr. Nourse, has
The imports of specie at this port during the same periods have been succeeded
by the new firm of Waldron & Tainter, at No. 97
been as follows :
Both have a thorough knowledge of all the details
Pearl street.
Dec. 6-Str. Tybee
.Pnerto Plata
Amer. gold
$5,200 of the business, and have the best wishes of a host of friends for
Dec. 6—Str. Wieland
Dec. 8—Str. Hermann
Dec. 6—Str. Niagara
London.
Southampton
.
Havana
Amcr. silver bars.
....
Mex. gold coin....
Amer. * I Ivor
23,3(3
Foreign gold
4,5; 0
gold
Foreign silver
Amer.
Dec. 6—Str. Cily of Vera Cruz
Total for the week
.Vera Cruz
$70/09
8,500
1,038
...
...
1.000
2,500
$36,543
of resolutions
their
success.
—The
declared
1,1878.
Chicago Rock Island & PaciSc Railroad Company has
divi lend of 2 per cent, payable on and after February
Transfer books close December 19.
a
THE
586
Closing prices at the Board have been as
©ajet'te.
SauKets’
<the
Dec.
Int.
NATIONAL BANKS ORGANIZED.
Authorized to commence business Dec. 7. 1877.
The following dividends have recently been announced :
Per
Cent.
Company.
When
Payable
Books Closed.
(Days inclusive.)
48,
4s,
Railroads.
Augusta <fc Savannah
Chicago Rock Island & Pacific (quar.)...
3#
.
Fitch >urg
3#
1
alley (quar.)
Lehigh
2
Morris & Essex
New Yi.rk Central & Hudson
N< w York & Harlem
3#
(quar.)
...
Richmond & Petersburg.
Miscellaneous.
Atl. & Pac. Tel. (in Franklin Teh stock).
Western Union (quar.)
FRIDAY,
2
4
2
On dem’d
F b.
1.
Jan.
1.
Jan. 15.
2.
.Jan.
Jan. 15. Dec. 16 to Jan. 1
.Jan.
2.
Jan. 14.
6«,
Doc. 1.
Differences.
.
.
.
scrip
1875.
Dec. 11.
calls for $10,1)00,000 “Andys.”
U. S. 5s. 10-408
New 5s
New 4# per cents
1C9
107
107#
105#
108#
106#
104#
105#
104#
of $35 each; Chic. &
So. KR. coupons, due
..$95
follows:
20
50
17
100
54
4C
24
10
2 )
50
40
20
5
47
25
20
50
13
10
25
*
86
of 1876
|
& Son sold the following at auction:
SHARES.
„
$25 each
600 Idaho Silver
each
Gaslight Co. 210# & 210
Oriental Bink of N. Y
150
Mech. & Traders’ Nat. B’k...ll0
142#
Manhattan Fire Ins. Co
Farragut Fire Ins
126
n
99#
50
60
60
Resolute Fire Ins
Commerce Fire Ins
Gebhard Fire Ins
1906;
due
of Aug., 1877, on.. 43
1,000 Trustees’ Certificates ot the
Harmony Mutual Coal Co.. 20
400 Riddlesburg Coal & Iron Co.
6 per cent mort. bond
20
2,000 Omaha & Northwestern
RR. 1st mort 7 3-10 gold
bonds, due 1901; Jan., 1875,
coupons
\
I
64#
coupons on
|
and Railroad Bonds for three
Closing prices of leading State
reeks past,
15c. per eh.
bonds,
Constr.
Tradesmen’s Fire Ins
15’.#
Produce Exch. Ins
80
Continental Ins
150#
Citizens’ Gaslight of B’klyn.. 85
Nat. Butch. & Drovers’ b’k..l08
Nat. Butch. & Drovers’ B’k..l07#
Twenty-third, st. RR
.$1 per sh
Mining Co., $5
$38,OCO Montclair & Greenwood
Lake 1st mort. 7 per cent
160
Mech. & Traders’ Ins
65#
SS. Co.,
BONDS.
.
and the range eince Jan. 1.1877, have been as
Nov.
30.
48
States.
Tenuessee 6s, old
do
6s, new
North Carolina 6s, old
Dec.
Dec.
7.
44
*43#
do 2d series... *42#
do
Missouri 6s, long bonds
*107#
District of Columbia, 3-65s 1924
74#
*41#
Virginia 6s, coneol
,
14.
*46#
20#
follows:
Since Jan 1,10 i
^
Lowest.
|
Highest.
41
8# Nor.30
Dec. 8
*42#
42# 41# Dec. 11! 7# Not.27
*18# 16# Oct. 25 2Sf£ jan. 6
*68
82# April 2 82# Apr. 2
♦40
38
Jan. 16
Apr. 11
*19
*70
107
107
*74#
*75#
104
71
Jan. 23
Jan.
2 j 80
Railroads.
.
-
,
Michigan Central, consol. 7s...
.
,
105#
*115
Morris & Essex, i st mort
N. Y. Cen. & Hiid. 1st, coup... *120
99
Ohio & Miss., cons. sink, fund
120
Pittsb. Ft. Wayne & Chic. 1st
3t. Louis & Iron Mt.; 1st mort
Union Pacific 1st, 6s, gold
*
sinking fund....
103#
107#
95#
•
.
50
66
65#
*66#
Central of N. J. 1st consol
107# ♦107#
Central Pacific 1st. 6s, gold
Chic. Burl. & Quincy consol. 7s 112#
96# x92
Chic. & Northwest’ll, cp., gold
93#
93#
Chic. M. & St. P. cons. s. fd, 7s
*108
*108#
Chic. R. I. & Pac. 1st, 7s
*111
*110
Erie 1st, 7s, extended
Lake Sh. & Mich. So.2d cons.cp
do
.—Range since Jan, l, #7.—
Lowest.' I
Highest.
.
..
83
10 Guardian Fire Ins.
5 N. Y. City Ins
30 N. Y. & Southern
Knickerbocker Ice Co
75#
Second Av. RR
...65@66
Watertown & Rome RR.. .... 10
N. Y. Gaslight Co...... 121©120
Manhat
Can.
Apr.
1, 1875, two of $4 90 each,
gold
$6 per lot
$5,000 Oregon Cent. RR. 7 per
cent bonds, due 1906
$16
870 Atlantic Mut. Ins. scrip of
1876
102#
500 Commcicial Mut. Ins. scrip
$20u per lot
...
Nov.27
94#
78
•
•
•
•
»
•
•
•
*115
♦120# *121
....
*119
102#
'
This is the price bid; no sale was made at
5
June 11
96# Nov.24
94# Dec. 13
1C5# *105
103#
106#
*94#
Jan.
Mch. 16
108# 106
*i.8
85
4
80# April 11
106
*
5
92#
•
•
Mch.
105# Oct.
108
June 5
June 21
109
93
100
113
114
Jane 29
June 29
May 10
Oct. 31
June 7
May 24
Dec. 4
July 17
May 2
Feb. 19
Mch. 5
81# June 28
9
Jane 23
92# Mcb. 22
July 12
117
107 S 103
94#
Jan. 26
Feb. 28
Jan. 150
Jan.
Jan.
9
92# Mch. 31
98#
the Board.
-
Railroad
109#
Col. Chic, & Iud. Cent. RR. cou¬
pons, due April 1, 1875, two
SHAKES.
deposit the “ Andys” as collateral for the coin, called bonds or coupons
which only could legally be tiken in adjustment of the transaction. Now, in
order to enable the First National to release their collateials, the Secretary
109#
108#
payable lf-92; int. 7 per
cent; two bonds of $?C0 ea.$87#
& Grand
Messrs. A. II. Muller
to
6s, 5-20s, 1867
mencing June 1, 1854 .$5 per lot
1,400 Manhattan Club bonds,
lot
1,195 Mob. Ala. & Grand Trunk
RR. first mort. scrip..$25 per lot
1,5C0 Erie & Pitts. RR. first
mort., due utiiy, 1882; int.
7 per cent
$96
2,200 Erie & Pitt®. RR. second
mort., due 1890; int.. 7 per
cent
$43#
that 4 per cent
Warehousing
$155 per lot
Ju’y 1, 1875
due
.
4,COO Buffalo & N. Y. City RR.
bonds, payable 1863; int. 7
p. c.; coup’s attached com¬
Trunk RR. first inort., due
1904; first coupon attached,
which to make their settlement with the Treasury, bought about $10,000 000
uncalled “Andys’’ (five-twenties of 1865), and as the fours were demanded by
them from the Tieasury, they desired to turn in these “ Andys” in payment
To this the Secretary is said to have objected, but finally permitted the bank
U. S.
class pref.
$450 per
$720,000 Mobile Ala.
government
four per cent
bonds, as it is reported they have done—thereby enabling the Treasury to call
for $10,0( 0,000 five-twenties—with the market price of four per cents below
par in go d, and no sharp demand for them.
*
*
* It is said that when
the suuscriptions for the four per cents were closed to the public in October
last, the inquiry for the bonds was so sharp and the prospect for the ready
sale of more of them looked so encouraging that the syndicate determined to
advance the price to # or 1 per cent, premium. The officers of the First Na¬
tional Bank, having been instrumental in disposing of a very large propor¬
tion of these bonds, desired, it is said, that, before the price was advanced by
the syndicate, they should h ive the privilege of subscrining for an additional
$10,060,000. This request was complied with and the subscription was made.
The First National Bauk then, as is alleged, instead of purchasing go’d with
Dec.
14.
10c.
cert,
BONDS.
c.
:
Dec.
7.
first
50 Staten Island
Co. stock
It has been a matter of surprise to those who have watched the
market closely, that the syndicate should subscribe for $10,600,000
Nov.
30.
RR.
,
..
50c.
pref. stock; $142 Mar. &
cin.
bonds sent home. The Journal of Com¬
gives the following in explanation of the recent call for
as
$5
stock
$10
124 Paterson & Ramapo RR. st’k. 97#
8 Erie & Pittsburgh RR. stock. 69#
591 Mar. & Cin. RR first class
It is obvious that the silver propensity cannot
Closing prices of securities in London have been
$l,f00 Erie & Pitts. RR. consol,
mort., due 1898; int. 7 per
cent
$85
1,000 Slate of Ala. bond, class
“C,” due 1906; int. 2 per
cent to Jan. 1, 1881, after
$5
stock
Imp. Ass’n
may expect to see
five-twenties
BONDS.
55 Bull’s Head Bank stock
100 Railway Adv. Co. stock
£5 Railway Adv. Co. trustee
be favorably regarded abroad, and as soon as they think in Lon¬
don that silver will actually be made an unlimited legal tender
here for the payment of government bonds and everything else,
merce
made at the Board.
SHARKS.
—
we
110# *110# *110
Bonds.—Louisiana consols have been
590 North Pac. Trans. Co. stock..
10 Long Branch & Sea Shore
...
1898, and 1899.
107
these are generally strong.
The Erie road is noticed for sale
January 21, 1878.
*
—By order of William D. Shipman, assignee of Messrs. Duncan,
Sherman & Co:, a large list of securities was sold at auction on
Saturday, December 8, including the following :
$233,429,600 $238 578.200 Inc
$148,600 $256,681,000 S^^^O^O
18,324,000
18.995,000 Inc
6:l.“00
22,9*3,400
16,539.4(00
Circulation
18,110,330
18 208,300 Inc.
98,000
15.032,100
19,118.31)
Net deposits.. 196.961.500 196,912,300 Dec.
49,200 204.850,800 206,966.900.
Legal tenders.
40,579,800
38,478,700 Dec. 2,101,100
36,373,900
43,320,900
United States Bonds.
Government securities
have de¬
clined a fraction during the week, except for the currency sixes,
which are stronger, and the sixes of 1881.
The ^tock Exchange
now calls the currency sixes by the years in which they mature,
there being five issues, maturing respectively in 1895,1896, 1897,
Specie
107#
dull but firm, with sales at 66^-.
Virginias are in fair de¬
mand, with sales at 57^357^ and 58, and Dealers at 42 bid.
From Tennessee, the news that the Legislature is opposed to the
60 per cent scaling lias had a bad effect ; but bondholders hope
now.to get a settlement at 50 per cent.
Railroad bonds have been fairly lit Id on a moderate business.
First mortgage bonds are moat in demand, and the prices of
being $8,245,625, against $9,663,425 the previous week.
The following table shows the changes from the previous
week and a comparison with the two preceding years :
Loans anddis.
14.
107#
are
issued December 8, showed a decrease of $1,417,800 in the excess
above their 25 per cent legal reserve, the whole of such excess
1876.
fDec. 9.
Dec.
13.
.fair demand at 85£@86, and are higher here than in New
Alabama, class A, sold at 43.
South Carolina consols
In
although it now appears that the silver bill is not likely to be
passed, if at all, until after the recess of Congress, which would
postpone the matter till about the middle of January. It is
hardly to be disguised that the defeat of President Hayes on a
mere
political question as to the New York Custom House
appointments, is not calculated to strengthen the cause of sound
money, as some ignoble spirits in Congress may now vote in
favor of a measure which will meet with a veto, where before
they would not have cared to place themselves in that position.
The embarrassment of the Newark Savings Bank, the largest
institution of its class in New Jersey, has had a depressing effect
on depositors ; there is no allegation of fraud or peculation in
the management, hut the single transaction of a sale of $3,000,000 government bonds in 1873, and investment of tne proceeds in
railroad bonds, is given as the cause for all its difficulties.
To¬
day, Mr. Wm. J. Best was appointed as Receiver of the National
Trust Company of New York.
In our local money market call loans have ranged quite steadily
at 4(26 per cent, on the bulk of business, to dealers in government
bonds and railroad stocks.
Prime commercial paper is in demand
at 5@6£ per cent.
The Bank of England statement, on Thursday, showed a gain
of £312,000 in specie for the week, the discount rate remaining
at 4 per cent.
The Bank of France lost 9,100,000 francs.
The last statement of the New York City Clearing House banks,
,
Dec.
12.
Orleans.
DECEMBER 14, 1877-5 P. M.
1877.
Dec. 8.
and Railroad
State
The Money Market and Financial Situation.—In
finan*
cial circles there is no material change in the situation.
Atten¬
tion is still concentrated on the silver discussions in Congress,
,
Dec.
103# 103# *102# 103#
106# 106# 105# 106#
106# 105# *105# *105#
109# 10 m# 108# 108#
108
*108# *108# *107
110#
*111*4 111# *110
*103# 108# *107# *107#
108#
*107# *108#
108#
107# *1(6# 106#
*107
107
106# 106#
107# *107
*105# 105# -104# 104 if 104#
105# *105 *104# 104# 104#
102# 102# *102#
registered, 1907
Quar.— Jan. 103# *103# *103
103
small coupon
.Quar.— Jan.*103# 103# *103# *102# 103
*120
*120#
Currency
reg. .Jan. & July. *120
*120 *120
•This is the price bid: no sate was
3. Dec. 21 to Jan. 4
15., Dec. 21 to -Jan. 15
Jan.
Jan.
412
1#
Doc.
11.
F3#
106?^
*106#
109#
*108#
111#
*108#
10S#
107#
5-20s, 1865, n. i...reg. .Jan. & J«ly.*103#
5--20s. 1865, n. i..coup. .Jan. & July. 106#
5-208, 1867
. .reg. .Jan. & July.
106^
coup..•• an. & July. 109#
5-208, 1867
5-20s, 1868.
...reg..Jan. & July.*108#
5-208,1863
coup..Jan. & July. Ill#
10-40s
reg..Mar. Sept.*l< 8#
coup..Mar. <fe Sept.*108#
10-408.
funded, 1881
reg..Quar.—Feb. 107#
5s. funded, 1881... coup..Quar.—Feb. 107
4#s, 1891
reg..Quar.—Mar. 105#
4#s. 1891
coup..Quar.— Mar.*105
6«,
6*,
6*,
6-«,
6s,
6^,
5s,
58,
5a,
DIVIDENDS.
op
10.
6.
Called bonds
Comptroller of the Currency furnishes the
following' statement ot National Banks organized the past week :
2,371—Second National Bank, Richmond, Kentucky.
Authorized capital,
$150/00; paid-in capital, *90,0 0. W. M. Irwin. President; J. Stone
Name
period.
follows :
Dec,
reg..Jan. & July. 107# 107#
coup..Jan. & July. Ill
*110#
6s, 1881.
6i, 1881
The United States
Walker, cashier.
[VOL. XXV.
CHRONICLE.
105# Dec. 14
110# Feb,
6
107
Oct. 10
1< 5# April 25
110# Feb.
6
109
July 11
1 102# May 16' 106# Aug. 7
:
and
Miscellaneous Stocks*—Business
in the
minimum, and prices close fairly
steady. An important event of the week was the meeting of
road officers on Thursday, to consider the proposed agreement
stock
market has been at
a
coal-
for a combination for three
tion till January 1, 1881.
years, to
control prices and produc¬
The agreement was submitted and
discussed at some length, but the meeting finally adjourned until
Tuesday next, without taking action. Among the events calcu¬
lated to influence stocks, is the reported organization of a new
telegraph company, with $10,000,000 capital, to build lines
between prominent cities, and work in opposition to Western
Union. It i3 concluded that this project is undertaken by parties
who have found a mine of wealth in the manipulation of Western
Union stock through the former opposition of Atlantic & Pacific.
The Western specialties among railroad stocks close higher to¬
day, and Lake Shore and Michigan Central also higher than they
were in the middle of the week.
The outlook for both classes of
roads seems to be pretty fair—the western roads will make a
good exhibit lor the year, and the trunk lines expect to make
money, on the present basis of freig.it rates, during the next six
months.
statement of earnings and west-bound freight rates
are given on another page ; on east-bound freights no change has
been made, and the meeting at Cleveland confirmed the pre¬
The full
viously existing schedule.
The-Rock Island quarterly dividend of 2 per cent has been
declared, payable after February 1.
The daily highest and lowest Drices have been as follows:
Dec
Dec. 10.
22% 23%
At.& Pac. Tel.
14% 14%
13% 14%
Cfentral of N.J
Chic. Burl.&Q *101% 102% *101%
35
35%
34% 35%
C.M11.& St.P.
70
70%
do
pref. 70% 70%
34
33% 34V
* 34%
Chic. & North.
65
65
do
65%
61%
pref.
C.K.I.& Pac. 100* 100 k 100% 100%
50% 52%
49% 52
Del.A H. Canal
50% 51%
60* 51V
Del. L. & West
9%
9%
Erie
9%
9%
11V
11% !’•%
Han. & St. Jos
do
24% 24%
pref. • ‘26% 26%
14?
Harlem
Ill. Central...
•72% 7*
72% 72%
59% to%
58% 5«%
Lake Shore...
53%
54% 56%
•r>6%
Michigan Cent
78
78%
Morris &Essex
77% 78%
..
Ohio & Miss...
Pacific Mall...
Panama
Wab. P.C. Ii’ts
Union Pacific.
West. Un. Tel.
126
15
67%
76% 77%
Adams Exp...
American Ex.
98
51%
51%
United States.
Wells, Fargo..
*16
.
*
*36% 87
76% 16%
This Is the price
were as
67%
67 V
*36%
17%
...
.
.
*31
; no
26
25
60%
58
53V
57
55
56
73
73%
ft
21%
21%
»
126
.
126
51% X19V
43%
do
do
...
31
do
do
2. ICO
7
2,350 17
2*0 135
pref
Morris & Ersex
N. Y. Central & Hudson River..
1,450
307,635
24,850
5,! 10
16,027
3,525
Mississippi
Pacific Mail
Panama
Wabash Receipts
Union Pacific
Western Union Telegraph
Adams Express
American Express United States Express ....
iVells, Fargo & Co
3,360
5.950
1 0731
08,4201
Apr.
77
15
Northw.
iff
pref.
*16
51
49
87
IS
31
31
Ai-r. 17
Feb. 19 147
40% Apr. 2 79
45
Apr. 23 73%
35% Apr. 2 74%
51V June 13 92*4
85% Apr. 23 109%
2*/ July 7 11%
12), Apr. 3 26%
80
Apr. 3 130
Vi June 30 20%
59% Jan. 15 73
50
Apr. 4 &4%
.....
"*29(
36
81
Apr. 27
July 25
Nov.
Oct.
Oct.
Oct.
Jan.
Oct.
Oct.
Aug.
Mch.
Oct.
Mch.
St.
Lake West’n
Shore. Union. Paul.
11
12
30,550
52,850 13,300
39,375 11,910
70,310 11,710
66,650
5,950
25,000
52.100
Sept.
June
13
....
7,100
Total.,
98.420
2,500
5,000
4,200
3,70)
3,700
5,240
18,165
16,800
9,900
1.800
36,l‘-4
2,410
20,820
25,300
3,212
6,419
23,731
1,800
2
57%
5
27
5
81
5
63%
74%
80%
100
55
114
67
49%
76%
79
91
24,850 127,179
216,963 494,665 337,874 153.992 187,382 524,000
Del. &
Hud.
Erie.
‘
100
6,578
2,605
14,100
4,830
3, 68
1,800
1,850
4,415
2,6(0
2,245
26,035
20,* 56
2,600
780,030 200,000
The total number of shares of stock outstaudiug is given in
the last lino, for tL.o purpose of 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 mentioned
in the second column.
,
Latest earnings reported
,
1877.
1876.
Atch. Top. & S. Fe...Month of Nov.. #335 500
4 i 5,072
Atlantic & Gt. West..Month of Oct...
Bur. C. Rap. & North.Month of Nov..
138,985
Cairo & St. Louis
3d week of Nov.
4,578
Central Pacific
Month of Nov.. 1,597,060
Chicago & Alton
1st week of Dec.
78.176
Chic. Burl & Quincy..Month of Oct... 1,290,114
Chic. Mil. & St. Paul... 1st week of Dec.
149,000
Chic.A Northwest.&c.Month of Oct... 1,598,776
Chic. R. I. & Pacific..Month of Sept..
798,277
Clev. Mt. Y. & D.,Ac..Month of Nev..
36,008
Jan. 1 to latest daite.
1877.
1876.
$225,793 $2,432,750
c 35,131
91,903 1,120,3'7
3,651
212,849
1,675,532 15,329.10?
91,38) 4,226,950
1,359,269 10,1^4,936
167,251 7,596,4t0
1,542,051
$2,282,136
6*3,940
5,396,663
5,158,986
30,029
354,869
345,874
1,037,583
240/ 82
16,699,795
4,677,566
10 151 013
7,611,133
Jan. 1 to latest date.
1817.
1876.
earnings reported.
1877.
1876.
Int. & Gt. Northern...3d week of Nov.
Kansas Pacific
Month of Nov..
350,418
$706,748 : $428,412
8,610,109 8,663,796
71,380 3,619,2t>9 3,731.721
154,857 1,882,040 1,745,578
377,340
429,614 4,66'",525 4,994,790
93,646 1,114,545 1,349.148
50,537 1,293,304 1,153,293
283,691 3,022,673 2,753,672
Month of Oct...
(>69,684
647,022
Mouth of Nov..
Missouri Pacific
Mo. Kansas & Texas..1st week of Dec.
Mobile & Ohio
Month of Oct...
316,311
3 8,043
72,784
264,507
143,525
Denv. & TUo Grande...Month of Nov..
Grand Trunk
W’kend. Dec. 1.
Great Western
W’kend. Nov.30
Hannibal <fe St. Jo... Month of Nov..
Houst’n & Tex. Cent.Month of Oct...
Illinois Cen. (III.line)..Month of Nov..
202,509
83,592
174,749
331,649
452,('48
Indianap. 131. & W...Month of Nov..
Michigan Central...
$45,030
160,8 *8
$31,337
80,815
41,089
70,165
571,713
18 431
18,956
393,151
337,223
170,151
2,561,804
190,369
2,746,787
231,800
172,353
72,931
Nashv.Chatt. & St.L..Month of Oct...
New Jersey Midland..Month of Oct...
Pad. & Elizabethan...2d week of Nov.
Fad. & Memphis
Month of Nov..
Phiia. & Erie
Month of Oct...
3,390,307
3,536,302
2,!>74,782
2,993,597
1,505,114
1.411,487
518,517
56.183
1,423,057
1,427,413
7,725
St Joseph & Western 2d week of Nov.
SlL. A.&'P.H.ibrcusj.Mouth of Nov.
St. L. I. Mt. & South. 1st week of Dec.
St. L. K. C.»fc North’n.lst week of Dec.
St. L. & S. Francisco .4th w’k of Nov..
15,638
47,164
48,651
471* 804
444,144
129,100
128,987
57,047
46,900
14,*13
8,070
4,09S.0S8
2,9:8,041
1,211,872
3,623,267
2,932,919
1.225,185
556,124
555,146
293,998
299,371
3,591
68,130
136,197
430,832
259,614
478.739
294,227
66,312
35.200
St.L.&S.E’u(StL.div.) 3d week of Nov.
(Ken.div.)..3d week of Nov.
“
(Tenn.div.)..3d week of Nov.
St. Paul & S. City
M outh of Oct...
Sioux City&Sf.Paul. .Month of Oct...
15,500
6,688
“
2,854
81,688
59,064
Southern Minnesota..Month of Nov..
Texas & Pac flc
Month of Sept..
Tol.Peoria& Warsaw..let week of Dec.
1st week of Djc.
Wabash
Union Pacific
Month of Sept..
1,606,223
lj'43,147
8-3.074
4,213.996
4.(94,621
1,305,986 9,103,170
9,2:/3.486
253,276
*5,166
80.087
1,136,412
137,421
47,833
71,4:0
174,893
26,824
85,000
631.2'7
581,133
1.189,803
1,340,511
Market.—Gold haa been higher under the intiuof the silver discussion in Congress, but to-day fell off
'l'lie tioid
ence
again and closed at 102under the prospect that no vote will be
taken on Mr. Bland’s bill or Stanley Matthews’ resolution until
after the holiday recess.
On gold loans the carrying rates were
5, 4, 3£, 3, 2^, 2 and 1 per cent. Loans were also made flat.
The last pi ice for silver from London was 53fd. per oz.
The following table will show the course of gold and gold
clearings and balances each day of the past week:
Total
■Quotations.Low
Dec.
“
Monday,
Tuesday.
“
Wednesday, “
Thursday, “
Friday,
“
102% 103% 103%
102% 103% 102%
102% 103% 102% $131,35?,000
102% 102% 102% 113,641,000
102* 107% 102%
.
..
following
American
Sovereigns
Gold.
tne quotations
are
Currency.
$19,888.00*' $2,107,050 #2,166,118
14,074,000 1.028,<09 1,056,858
25,998,000 2,68 i,94T; 2 768,384
1 *,900,00:
2,028,(06 2,158,527
24,232.000 1,923,600 1,985,864
30,260,000 1,446,500 1,419.758
103
1038# 103
103
103% 103%
103 % 103% 103%
Current week.
Previous week..
Jan. 1 to date
Balances.—->
/
Clearings.
102% 102% 102%
Saturday,
TLe
High Clos.
in gold
s
1,847,469
1,797,912
for foreign and
coin:
$4 86
3 87
Napoleons
X X Reichmarks....
X Guilders
! Dimes A: half dime?.
Large silver, %s &%s
@$4 90
@ 3 92
—
—
Five francs
Mexican dollars.
4 74
@ 4 80
3 90 @ 4 10
Doubloons. 15 65 Q 16 15
Spanish
Mexican Doubloons 15 50 @ 15 60
Fine silver bars
116*4 @
117
Fine gold bars
par<2i%,prem.
English silver...
Prussian silv. thalers
Trade dollars.
—
-
96%@
96 %@
90 @
about 4.82
for
—
97
—
97
93
92 @ — 94
75 @
4 85
65 @ — 70
96%@ - 97*
exchange.—Foreign exchange is quiet, and on actual
bankers’
—
transl
sixty-day sterling
bills, and at 4 85@4.85| for demand. Except for the purchases
of bond importers, there seems to be little reason why exchange
should be higher, as there are more than enough commercial
bills makiDg to supply the mercantile demand for remittances.
In domestic bills the following were
rates on New York at
the undermentioned cities to-diy:
Savannah, buying f discount,
selling £ ; Cincinnati, quiet, 100 discount@par; Charleston, -fc.,
5-10 and 3-16c., par ; St. Louis, 1-10 discount; New Orleans,
commercial 7 10, bank ± ; Chicago, 80 discount, and Milwaukee,
actions the rates
are
par.
Quotations for foreign exchange are as follows:
-Dec. 1460
Prime bankers’ sterling fcill3 on London..
Good bankers’ and prime commercial...
Qood commercial
Documentary commercial
Pans (francs)
days.
.81%@4.S2%
-81%@4.8l%
.80 @4.81
•79%@4.80%
22J4 @5.19%
.23%@5.20
.22*/,@5.19%
39%@ 40%
•
Antwerp (francs)
follows
Mich. Del. L.
Cent. & W.
8.600
23%
Latest
<
...
59% Jan.
90
7%
3 10% 22%
3 18% 33%
15 130% 145
15 60% 103%
8 48% 68%
15 84% 65%
106
12 84
8 96
117%
15
5
24%
24 16% 39%
1 122
110
8
Jan.
378! 91
Apr. 23 U5
43% July 3 60% Feb.
26,350
Whole stock
ft
*46%
*86%
81
Oct.
302
6
10..
14
,
77%
98%
*98
8
1
8
8
8
15% July
33% July
17
Total Bales of the week in leading stocks were as
44
76V
.
18*4 46%
49% 84%
31% 45%
55% 67%
98% 111%
61% 125
Jan. 13| 64*4 120%
11
127,179 30% June 11
4% Apr. 2
26,035
Michigan Central
11
•
126
14
*67%
31
Apr. 12 42% Oct.
21,704 40% Apr. 23 72% Oct.
15
16,600
Apr. 13 43% Oct.
30,0 9 37% Apr. 23 69% Oct.
.4,975' 82% Apr. 23 105% Oct.
20,856 25% June 13 74% Jan.
pref...
Delaware & Hudson Canal
Delaware Lack. & Western
Erie
Hannibal & St. Joseph
«<
•
sale was made at the Board.
23,731
pref...
Chicago Rock Island & Pacific..
It
.
86 V 86V
•16% •17
....
•
Whole ’
Sales
of w’k. ,—Jan. 1, 1877, to date.
year 1876.
Low. High
Shares
Lowest.
Highest.
Mch. 14 14% 22
1,160 15% Feb. 3 25
Ju'e 11 37% Jan.
6
3 20% 109%
1,271
605 94
Moh. 19 118% Jan. 26 112% 121%
Chicago & Northwestern
Dec.
26
i3%
98
50
98
•
*86% 87
16V 16V
36
26
60%
51%
74
74%
106% 107%
9
3%
21% 21%
*
13% 14%
62V 67 V
76% 7%
.
.
9%
1>V
53%
56%
106% 106%
8%
8V
21% 21%
14% 14 V
67% 67%
77% 73%
•98
*51
•4>
9%
11V
•
%
9
51
147
146% 146% *115
72
72% *72%
11V
9
49
follows:
Chicago Mil. & St. Paul
Ohio &
*86% 87
*!.’% 17V
.
31%
65% 65%
100% 100 v
43% 51
48% 50
9
8%
11V 11V
59
56
X73V 74 V
106V 10?
67V
73%
93%
51%
35%
71%
72%
56%
10tV ioiv
35% 36%
71% 71%
34% 35%
65% 6l>%
101
101%
50
51%
week; and the range in prices since Jan. 1,
Chicago Burl. & Quincy
do,
Harlem
Dlinois Central
Lake Shore
98
51
*46
17%
....
Atlantic & Pacific Telegraph
Central of New Jersey. 1
do
•67%
77%
48
87
bid and asked
Total sales this
1876.
15
76% 77%
97% 97 V
5i%
51%
•
4?%
....
15
12%
12%
MV
35
70 V
33 V
26
27
145 V 145V
25
145 V
77 V 78
106% 107
8%
8%
21
21%
126
14 V 15
121
15%
67%
98
Quicksilver....
do
pref.
55
51%
3%
8Y
11%
72% 72%
58% 59 V
10i% 106%
8V
8%
21% 21%
*
106% '.07%
8*
8%
21% 21*
49
22
12%
101% 101%
34% 35%
70% 71%
34% 34 V
65% 66%
100v ioo%
50% 52%
10 %
35%
71%
33% 34%
64% 65%
100% 100 V
50% 52
50% 51%
7%
9%
11% 11%
25
115
ft
21
13 V
21
13 V
31%
70%
...
N.Y.Cen.&H.K
11.
Dec. 14.
22
22
13
13%
.
21% 22%
13% 14%
10.
Friday,
Wednes’y, Thursday,
Dec 13.
Dec. 12.
Tuesday,
Monday,
BftT-uraay.
Dec. 8.
23
23
587
CHRONICLE*
IHE
187
December 15
Swiss (francs)
Amsterdam (ga s .»r o
Hamburg (reichm "
Frankfort (reichmarks)
Bremen (reichmarks)
Berlin (reichmarks)
..
.
94%@
94%@
94%@
94 %@
3 days.
4.85%@4.85
4.65 @4 85%
4.83%@4.84%
4.83 @4.84
5.20 @5.1754
5/0 @5.1754
5 20 @5.17%
40% @ 40%
94%
94%
94%
94%
94%@
94%@
95
95
95
95
94%@
94% @
following are the totals of the Boston
series of weeks past:
Loans.
Specie. L. Tenders. Deposits. Circulation. Agg. Clear.
Boston Banks*.—The
Oinks for
a
$
)ct. 8
Oct. 15..
let. 22..
let. 29..
'Jov. 5.
'Jov. 12.
^ov. 19.
*Iov. 26.
Jec. 3..
Dec. 10.
..
.
128,147,100
127.402,700
$
2.267.200
2,119,00)
12*.85v,8**0
2,2U',6 0
126,497,500
127,883. 10)
2.459,600
129,127.7(0
2,927,300
2.868.500
129,'08.300
129,445,110
1-28,034,7C0
127,951,900
2,601,400
2.815.200
2.811.500
3,004,200
$
5,811,900
5,427,100
5,505,000
5,1*47,800
6,2^6,800
6,180,600
6,074 80)
5.668,200
5.601.500
5.647.500
$
45,458,400
$
23.808,0 0
48.339.800
23.987.700
24,687,(HO
23,949,300
24,157,"*0
24,286.60)
24,131,5 0
48,4 .'7,800
4 V> 70,8*0
51.011,800
51,703,4(0
50,902,500
51,377,300
50,673,600
50.1.8.800
24.319.700
24.410.200
24.637.200
$
53,175,098
47,046,262
50,592,119
44.510,414
49.711,719
51,259,798
50,637,149
47,12',549
42,8^5/86
47,9 >7,363
Philadelphia Banks.—The totals of the Philadelphia banks
follows:
Loans.
Specie. L. Tenders. Deposits. Circulation. Agg. Clear.
re as
s
10,576, *00
10,605,8:36
47,t 50 675 10, '9 ,169
48.047, «6ft 10,628,6ul
47,635,097 10,623,795
47,901.443 10,657,276
48.267,785 10,676,728
47,813,9 7 10,713,565
47,852,227 10,702,403
47,633,389 10,771,713
$
Oct. 8...
Oct. 15..
Oct. 22..
Oct. 29..
Nov. 5..
Nov. 12.
Nov. 19.
Nov. 26.
Dec. 3..
Dec. 10.
,
,
,
.
61,218,252
61,013,119
60,812,307
60,731.184
60.221,(36
59,943.506
59,6i9 038
59,150 819
59,096,735
59,413,830
1,320,515
1,294,076
1,287,578
1,357,001
1,432,897
1 48 »,4S2
13.461,572
12,957,296
12,971,540
13,143,712
13,274,543
13.577,990
13,629,674
1,410,424 13,(j??,169
1,335 604 13,883,237
1,348,366 13,492,620
1.472,532
48,298.947
47,768,873
$
40,605,826
37,829,614
38,*24,456
33,937,479
£5,944,866
31,6*7,928
34,141,032
33,674,910
28.274.523
37,540,759
568
THE CHRONICLE.
New York City Banks.—The
following statement shows the
condition of the Associated Banks of New York City for the week
ending at the
cominencament of business on
Loans and
Discounts.
$
New York
3,000,003
Manhattan Co... 2,050,0 0
Merchauts’
3,000,000
Mechanics’
2,030,000
Union
1,230,003
1,000,000
Tradesmen’s
Pulton..
Chemical
Merchants’ Exch.
Gallatin National
Butchers’* Drov.
Mechanics’ & Tr.
Greenwich
Leather Manuftrs.
8eventh Ward....
State of N. York.
American Exch" e.
Commerce
1,000,000
1,000,000
....
Broadway
Mercantile
Pacific
Repnblic
Chatham
People’s
North America...
Hanover
Irving
Metropolitan
Citizens'
Nassau....
Market.
St. Nicholas......
Shoe and Leather.
Corn
Exchange...
Continental
Oriental
Marine
Importers’&Trad.
Park
Mecb. Bkg. Aes’n.
Grocers’
North River
East River
Manuf’rs’ & Mer.
Fourth Nalional..
Central National.
Second National..
Ninth National...
First National....
Third National...
N. Y. Nat. Exch..
Tenth National...
Bowery National.
600,003
330,0>0
184.100
185,300
750,430 2,354,700
4:44,600
205,900
3H.600
283.500
166,000
76,000
271,900
20,0(0
218.400
246.100
323,103
163.800
97/00
1,792.9 0
9.950.800
2,938,600
1,003,000
1,5*0,000
3.563.800
500,000
1,239,000
600,000
1,593,000
2 0.030
761,310
600,000 2.527.100
986,500
300,000
362 000
800,000 1,788.000
5,000,000 11,640,900 1,103,000
5,000,000 13,403.500 1 076,503
126,100
1,000,000 4,722,403
260.500
1,<00 000 3,161,400
422,703
1,935,900
22,700
1 500,000
3,01 (.700
305,400
450,000
3/06.300
212,800
12,300
412,500 1,353,500
1,003,003 2,163 900
146,900
1,000,000 4,338 100
211.700
500,000 1,906,0:0
10.400
3,000,003 13,250.000 1,2 8.003
600,000
1.545.200
81,800
1,000.000
1.914.200
18,800
i,ojo,ooo 2/8/100
175.700
1,000,000 2.1-23,500
107.200
3 832,900
1.000,000
167/00
1,000,000
2,991,000
3M, 3J0
1,250,000 3.187.800
39,5)0
300,003
5. *00
l,2o2/00
403.000
2.135.700
105.700
1/00,000 14,844,503
859.200
2,000.000 10,519.000
569.500
500,003
663,(00
8,000
300,000
918,100
3,600
40 ',000
935.800
18.400
350,000
680/00
7,700
398.800
2,000
1(0,0 0
3,750.i 00 13,5-3,903
460,000
2,000,000 7,(21,000
153,000
300.000
1,810,000
1,500,003 4,693,100
2''2,800
500,030 6,825,400 1,076,890
1,00 >.003 5,430,200
494,600
300,003
1,110,503
29,800
',666
1,132,200
German American 1,000,00-3
1,006,500
2,152,700
New York
County
250
200.0 0
tion.
$
July 21.
July 28
255,982,203
Aug; 4
Aug.11.
Aug 18
219,767,800
245,3/7,20)
243,89),300
244,893,603
24t,77S709
213,920,800
243,795/00
243,976,403
241,847,803
238.470,900
2iS,2J9,603
238,183,800
238.267,400
236,216.603
249.169,GO)
.
.
.
Aug.25.
Sept. 1..
Sept.
Sept.
Sept.
Sept.
8..
15.
22.
29.
Oct. 6...
Oct. 13..
Oct. 20..
Oct. 27..
Nov. 3
Nov. 10. 235.- 64,300
Nov. 17. 833,308,300
Nov. 24. 235,329,800
Dec. 1.. 233,429 603
Dec. 8.. 238,518,200
.
295.400
1,003,000
1,823.900
622.103
426.300
420.103
836,600
676,000
137/00
39,COO
7,500
128,000
14F/00
50,00 J
1,100
265,100
795 400
1.257.900
10,037, feOu
2,2U6,20J
2,146,700
623,800
45.(k'0
943,000
237,000
189.900
1,12\000
879.100
2,075,000
963,200
2,700
23 i,500
36,500
45 000
232,000
1.807.100
7,834,(00
6.537.200 2,082,703
3.167.200
896.000
2.814.900
87,600
1,818,300
1,528,000
450,000
3.355.100
400,000
1,045,800
5,400
1.518.400
3.606.500
4*4t!6o
245.800
656.100
394.700
1,79G,000
74,500
1,413,000 10,203,000 1,545,00
388,200
1.734.200
177,800
233.400
1,658,2.10
3,900
380.700
1.907.400
561.600
201.800
496.200
1,034,700
659,0,10 3,152.000
332 300
215,000
1.834.500
4,700
536,000
2,211,800
776.600
190,000
1.033,200
411,000 2,0-6,603
273.200
3,462/00 15,42:3,400 1,112,800
3,412,600 13,007,2-)0
421,40G
121.000
514,003
302,000
255,000
977,903
121.700
629,700
124.300
506,100
93,900
116.500
472.100
2,303,500 10,734/00 1,047’, 400
1,451,000 6,0-3,100 1,474,000
476,000 1,82:3,000
27c,000
1,177/00 4,255/00
716,000
"6 <,103 5,803,503 450,000
1,090,500 5,819,800
255,5U0
152,500
717.100
268,200
-
233,000
309/00
,800
343,200
171,200
829,506
223,000
180,000
1,122,260
1,966,600
a
At*
1
"a
am
a.
a
S
A
?
a
1. i.!
.1
$
14,979,800
53,984, 00
$
*■
$
*
-
57,499,709
57/25,2J0
222.813,600
P),546,400
11,135,800
54.262,103
221,064,900
15.517,90)
400,708 240
33*,914/04
15,03 >,703
13,449, 00
14,250,003
16,0)0.103
19/61,600
19,913,000
19.274,700
18/52.300
16.551/00
17.0HI/00
16,51'i.SOO
17.322.403
15,935,900
18,754,500
19,45),800
19,767,8-JO
18,324,000
18,395,000
219 166,600
15.585.300 390,467.627
15,689.500 340,032.240
52,696,010 213.414,603 15,515.900 344/5/974
50,789,003 213,026,300 15,5-5,5)0 420,915,000
48,180,6)0 209.459/00 15.383.300 400/91,928
45,3)3,900 210,574,100 15.563,400 397,270,3-5
44,045/00 208,582,490 15/77,100 379 235,693
42,454,400 206,724/ 00 15,596,100 405/32/78
41,975/00 200/11,200 1V 24/00 419,366.185
41,402,000 197,853,400 15,99 >,200 42*,8 8,637
40,3 6,8)0 197,171,6 K) 15,031,000 435,-87,249
39,919,300 195.561.500 16.210.300 478,163,840
39,235,100 191,848,700 16,726,000 417,387,453
39,531,903 191.364,903 17,15i,800 458.025,653
33,503.403 1 (3,557.300 17,720,2 K) 353,003/67
39,332,900 196.501.500 17,34 (,900 401,980 936
39,949. 00 195/34,900 18,10 >,500 4)7,104,418
40.579,600 186.961.500 18,110,:i00 369.512,964
38,478/03 196,912,310 18.203/00 488,942,229
Bank is in liquidation, and in the
Clearing
53,0.14.600
215,4)1,60.)
Note.—The Tenth National
House return for December 8 its figures were nrst omitted. In it3
last state¬
ment, made December 1, the figures were as follows: Loans and
$847,0)0;
discounts,
specie, $500;
legal tenders, $61,600; net deposits, $76,500; circula-
tion, $448,900.
QUOTATIONS IN BOSTON. PHILADELPHIA AND OTHER CITIES.
SECURITIES.
Bid. Ask.
1
<Ctv
..
...
....
Portland 6s
Tcpeka 1st
m.7s
land grant Ts
2d 7s
land inc. 12s
do
Boston « Albany 7s
do
63
Boston A Lowell 7b
Boston & Maine 7a
Burl. & Mo., land grant 7s....
do
Neb. 8s, 1891
do
Neb. 8s, 1883
Eastern, Mass..8*8, new.
Hsrtford & Erie 7b, new
oedensburg & Lake Ch.Ss...
Old Colony & Newport7s
...
Rutland,
.
.
&
Albany
121
Lowed
& Maine
& Providence
Burlington & Mo. In Neb
Cheshire preferred
Cin. Sandusky & Clev
Concord
&
94*
4
30
IK
88
79
47*
too*
79%
Eastern (New
Fitchburg
10(5
107*
iid
108
50*
11*
....
...
'50*
11*
12
2
as
44
Hampshire)...
74
95
100*
40
"1K
4*
49*
43*
112
Manchester & Lawrence
Nashua & Lowell
New York & New England...
Northern of New Hampshire
,
| Norwich & Worcester
Ogdensb. & L. Champlain
do
do
pref..
| Old
12l*
127*
Conn. &
Passumpslc
48* Eastern (Mass.)
..
new 7b
Verm’t C. 1st m., cons. 7s, *88.
do
2dm., 7b, 1891
Vermont & Canada, new 8s
Boston
Boston
Boston
Boston
...
Colony
Portland Saco & Portsmouth
ttGuana, common...;
do
preferred
Vermont & Canada
Vermont & Massachusetts...
Worcester & Nashua...
PHILADELPHIA.
STATE
Bid. Ask.
Pennsylvania 63, coup., :9 0..
Schuylkill Nav. ist m.6s, ’97.
"eT” 65~
do
do
AND CITY BONDS.
do
do
do
do
6s, 15-25, reg., 18S2~’92.
Philadelphia6s, old, reg......
do
6s, new, reg.
Allegheny County 5 vcoup...
Pittsburg 4s, coup., 1913
do
5s, reg. & cp., 1913.
do
6s, gold, reg
do
7s, w’t’r ln,rg. &cp.
no 73, itr. Imp., reg.,’38-36
N. Jersey 6s. exempt, rg.&cp.
Camden County 6s, coup
Camden City 63, coupon
do
7s, reg. & coup
Delaware 6s, coupon
Harrisburg City 6s. coupon..
..,
C mden & Atlantic
uo
do
pref
Calawlssa
do
pref
do
new pref.
Delaware & Bound Brook....
East Pennsylvania
Elmira & Williamsport
do
do
pref..
Har. P. Mt. Joy * Lancaster.
Huntingdon* Broad Top...
do
do
pref.
Lehigh Valley
Little SchuyiKill
112
| 114
no
00
!
.
i
100
00
Nilnehlll
do
do
15
23*
7
85
30 *
Western Maryland
50
50
Pittsburg & ConnellsvUle..50
Central Ohio,
'30
21
RAILR 'AD
'4*
Northern Central 6a. ’85, J&J
do
63.1900, A.&O.
do 63, gla, 1900, J.&J.
Cen. Ohio 6s, 1st m.,’90,M.& 8.
\V. Md. 6s. 1st m., gr.,’90,J.&J.
do
1st m., :890, J. & J...
do
2d m.,guar., J.& J
do
2d m., pref
do 2d m.,gr. by W.Co.J&J
do 6s. 3d m.. guar., J.& J.
Mar. & Cin. 7s, ’92, F. & A
do
2d, M. & N
do
8s, 3d, J.&J
Union RR. 1st, guar., J. & J..
do
Can on endorsed.
ig*
...
“8K
Pennsylvania
Schuylkill Navigation
pref...
18*
40
121
55
120
7
1
8
5
108
74
30
100
RAILROAD BONDS.
Allegheny Vai.,7 3-I0s, 139'i...
do
7s, E. ext.,1910
do
inc. 7s, end., ’91.
Belvidere Dela. 2d in. 6s. ’85..
do
Sim. 6s,’37..
&4
40
102
00
loi*
04
104
101
Camden AAinboy 6s,coup,’83
do
63, coup., ’89
mort. 6s, ’89
do
108* 110
Cam. & Atl. 1st m. 7s, g., 1993
97
do
21 m., 7s, cur., ’80 95
Burlington Co. 6s.’97.
Catawlssa 1st,7s, conv., ’82..
do
chat, in., 10s, ’83
do
new 7s, 1900
Connecting 6s, 1900-1904
Dan. H.& Wilks., 1st., 7s, ’87*.
Delaware mort., 6s, various..
Del & Bound Br., 1st, 78.1906
East Penu. 1st mort. 7s, ’88
E1.& W’msport, ibt m.,7s, ’SO
do
1st in., 58, perp.
..
101
103
104
L03
104*
00
102
97
105
.
Harrisburg 1st mort. 6s, ’84..
H. & B. T. 1st m. 7s, gold, ’90.
do
2d m. 7s, gold, ’95.
do
8d in. cons. 7s,’95*.
Ithaca* Athens 1st g d. 7s.,’90
Junction 1st mort. 6«, ’82
do
2d mort. 63,19)0
Lehigh Valley, 63, coup.. 1898.
do
ts, reg., 1893...
do
7s, reg., 1910...
do
con. m., 63,rg.,19)3
Little Schuylkill, 1st m. 7s.V2
North. Penu. 1st m. 6s, cp.,‘85.
do
2d m. 7s, cp., ’96.
do gen. m. 7s, cp., 11:03.
do gen. m. 7s, reg., 190")
Oil Creek 1st m. 7s, coup.,’8*.
ptttsb. Tltusv. & B.,7s, cp.,’96
Pa.* N.Y.C. & RtS. 7s, ’96-’906
Pennsylvania, 1st m., cp.,’80..
do
gen. in. 6s, ep., 1910.
do
gen. m Cs, 1 g., 1910.
do
cons, m 6 , rg., 1905.
do
cons. m. 63, cp., 1905.
Perl/omen let m. 6 l coup.,*7
Phila. * Erie 1st 111.63, cp.,’8!
do
2d m 7s,cp.,’S8.
Phila. & Reading 63, ’80, .....
do
7s, '-oup.,’93
do
deben., cp.,’93
do cons. m. 7s, cp..l9i!.
do cons. m. 7s, rg.,1911.
do conv. 7s, 1893
*
Phila.* Read. C.& I. deb.7s,£2
Phila. Wllm.& Balt. 6s, ’84
Pitts. Cin. * St. Louis 7s, 1900
Shamokin V.& Pottsv. 7s, 1901
Steubenv. & Ind. 1st, 6s, 1884.
107
105*
100
110
101
30
105
102*
...
107* 108*
10S
103*
113* 115
05
10
105
108
100
115
108*
111
107
107
87
50
ill
West Jersey 6s, deb., coup.,’83
do
1st ra. 6s, cp., ’96.
do
lstm.78,’97
Western Penn. KR. 6s, '.893...
do
6s P. B.,’96
Wilin. * Read. ’ si m. 7s, (900*
do
2d m., (902*...
72)4
3754
981*
90*
'38k
100
IK*
78
"W*
80
111
80
101
70
111*
91*
40
93
47
13*
19*
102
14*
102
102
102
102
102
Washington.
Ten-year bonds, 6s,’78...^—
Fuud. loan (CoDg.) 6s, g., ’92.
do
(Leg.) 6s, g., :902.
CertifB.of st’ek (1828 ) 5s, at pi.
98
102
x98
75
do
(1843 ) 6s, at pi. 90
Ches.&G.st’k (’4?) 6s, at pi... 83
Georgetown.
100
General stock, 8s, .881
do
6s, at pleasure 85
83
Bounty stock, 6s
do
85
Market stock, 63
do
Board of Public Works—
Certlfs. gen. imp. 8s ’77-78. ICO
100
do
series
35
Certlfs. sewer, 8s, ’71-77
...
CINCINNATI.
Cincinnati 6s
t
do
7s...
..t
do
7-30s
t
do
South. RR. 7-30s.t
do
do
63, gold
Hamilton Co., O., 6s. long., .t
do
’ 7s, 1 to 5 yrs..f
7 & 7-30?, long.t
do
C!n.& Cov. Bridge st’k, pref.
Cin. Ham. & D. 1st in. 7s, ’80
do
2d m. 7s, ’o5..
Cin. Ham. & Ind., 7s, guar....
Cin. & Indiana '-st m. 73
do
2d m.7s//...
.Colum. & Xenia, 1st m. 7s, ’90
,-Dayton & Mich. 1st ra. 7s, "81.
do
2dm. 78, ’84.
100*
114
40
101
l'»l
104
104
104
104
104
100
104
100
80
95
106
105105
45
98
100
100
ll.'8
101
b8
97
100
107
90
100
09
30
90
110
112
103
92
100
100
7J
104
m
100
101
101
40
92
73
100
101* 103
90
53
60
78*
90
07
83
114
iod
80
LOUISVILLE.
Louisville 7s
t 100
do
63,’82 to’87
+ 97
do
6s, ’97 to ’91
t 97
do
water 63,’87 to ’89 t 97
do
water stock 6s,’97.t 97
do
wharf 6s
.t 97
do
spec’l tax 63 of ’89. f 97
Jeff. M.&I.lst in. (I&M) 7b,’8lt
98
95
'90
80
92
100
15
99
35
90
91
103*
97%
97%
.
do
75*
2dm., 7s
do
let m.,7s, 1906—t 100
Lou1sv.C.& Lex. 1st m. 7s,’97. 117
Louis.& Fr’k.,Louisv.ln,63,’8i 10O
Loui8v. & Nashville—
Leb. Br. 6s, ’86
t 99
1st m.Leb.Br.Ex.,7s,’80-85.t 07
Lou. In.
do
6s, \>3...t 08
100
Consol. 1st m. 7s, ’98
Jefferson Mad. & Ind
30
Louisville* Nashville
75
LouiiVllle Water 63, Co. 1907 f
70
St. Louis 68. lo g
do
water os,
ST.
do
Ob
LOUIS.
do
104
gold
do
.
In default of lntere»t.
m
WASHINGTON,
District *'f Columbia.
Perm. Imp.6s, g., J.&J., 891.
do
7s, (891
Market $tock bonds, 7s, 1S92.
Water Stock bonds, 7s, 190;..
do
do
7s, (903..
+ 103*
107
+ 100
new.f 100
da
bridge appr., g. 6s t 1(6
Lehigh Navigation 63, reg.,’84 103
104*
do
do
103
renewal, gold, 6s.t 100
BK., rg.,’91 102
ao
do
sewer, g. 6s, ’9 -2-S.t 100
deb.,rg., 77
St.
Louis
Co.
new p.irK,g.63.t 100
do
iod
conv., rg.’82
cur. 7s
do
t
uo
01
ccnv.,g., rg.,^ 90
St.L.& San F. Bit. bds, ser’s A io
do
gold, ’97.... 0>* 03
do
do B
do
do cons. ra.7s,rg.,1911 00
do
do
do C
Morris, boat loan, reg., i885..
*
100*
iom*>
100
'78
94$
99fc
104
.
'
Stony Creek 1st m.7s, i9J7....
Sunbury & Erie 1st in. 7s, ’97.. 100*
UDiced N. J. cons. m. 6s. ’94..
Warren & F. 1st m.7s, ’95
West Chester cons. 7s, ’9t—
94*
09
'll*
do.
3d in. 7s, ’84. 90
10T*
100
107* Dayton &-West. 1st in., ’8>...t
85
do
1st m., 1905
87*
do
1st in. 6s, ;90o 75
50*
00
Ind. Cin. & Laf. 1st m*. 7s
112
do
(I.&C.) lBt ni.7s,*83 90
107* 108
98
108* Little Miami 6s, *63
10,* 108* Cin. Ham. & Dayton stock...
07
01* 9>* Columbus & Xenia stock
04
97
Dayton & Michigan stock....
8. p.c. st’k, guar
72
do
92
lOSt
103* Little Miami stock
100
lu5
113
*37
100
10)
57
•45
105
101*
MISCELLANEOUS.
18*
Morns
do
pref
99* ioo
104
100
Baltimore Gas certificates...
People’s Gas
Lenigh Navigation
16*
30
BONDS.
lPIttsb.& Connellsv.7s,’98,J&J
40*
Chesapeake & Delaware
Delaware Division
16*
26
.
CANAL STOCKS.
Cam. &
pfl
Balt. & Ohio 68,1880, J.&J.... 105
>05*
do
63,18S5, A.&O.
104* 105
N. W. Va. 3d m..guar.,’85,J&J
OS
53
11%
30*
31^
Erie
Read ng
Trenton
* Baltimore.
.
112*
Par.
Balt.& Ohio
...100 100
do
Wash. Branch.100
do
Parkersb’g Br..50Northern Central
50
Fittsburg TituBV. & Bull"
Unltel N. J. Companies...... 110*
West Chester consol, pref—
West Jersey
do
6s,e'cempt,’33,M.&S. 110
1900, J.&J
113* 113*
1901, J.&J
X...
Norfolk water, 8s
46
07
Nesquehoulng Valley
Susquehanna
do
6->, r890, quarterly., X103
do
5s, quarterly.
Baltimore 63, SSI, quarterly. iio
do
6s, ;8S6, J.&J
110
do
63,189 *, quarterly... 111* x....
do
6s, park, 1890, Q —M.
do
6s, 1693, A1.& S ....
ao
no
105
48*
Norristown
Northern Pacific, pref
North Pennsylvania
Pennsylvania
Philadelphia &
Pniladeiphia &
Philadelphia*
Plula.WUmlng.
Maryland 6s, defence, J.& J..
104* 105
do
6a, exempt, lfc87
xioo
...
8ik!
104
*o5
01
70
50
BALTIMORE.
112
4)
71*
■45
,
W)
05
49
00
00
53
RAILROAD STOCKS.
Chesao. & Dela. 6s, reg., ’86..
Delawa-e Division Cs, cp.,’78.
109)4
*
63, imp '80
6s, boat* ear, 10:3
do
d">
RAILROAD STOCKS.
CANAL BONDS.
10
20
m.6s,’96
53, cur., reg
7s, boat & car, 19 5
5s, new. reg., 1392-19)2 lick 110%
6s, 10-15, reg., l-7T-’82. 105 V) 105* Susquehanna 63, coup., ,9.8.*
93*
65
2dm. 03,190
,
do
j
Peuua. 5s, g’d, int,reg. or cp. 103
...
STOCKS.
....
....
5s, gold
Chicago sewerage 7s
do
Municipal 7s
'
Bid. Ask.
Vermont* Mass. 1st m.,6s,’bS 103
do
Atch. &
do
do
SECURITIES.
1
BOSTON.
Maine 6«
New Hampshire 6e
Vermont os
Massachusetts 5s, gold
Boston 6s, currency
SECURITIES.
*
67,435,200 238,578,200 18,995,000 38,478,700 196,912,300 18,208,300
The deviations from returns of previous week are as
follows:
Loans
Inc.
$14.3,600 Net Deposits
Dec.
$49,200
Specie
Inc.
671,00.) Circulation
Inc..
98,000
Legal Tenders
Dec. 2,101,100
The following are the totals for a series of weeks
pa*t:
T
C
aa!
T
/I
If
Loans.
Specie. L. Tenders.
Deposits. Circulation. Avg. Clear
n
Bid. Ask.
Circula¬
Total
.AQ A Q
PHILADELPHIA, Etc.—Continued.
SECURITIES.
Net
Legal
8
3,030,000
City.
Dec. 8. 1877:
Specie. Tenders. Deposits.
$
8
$
8,3 6.000 1,736,600 1,031,000
7,725,930
831.700
5.833.100 1,109,700
4.861.200
7,64 4,COO
801,000 1,030.000
5,%1,000
773.703
452,700
6.573.200
4,933,630
470,000
4.145,003
270,200
2.725.100
8.35-\700 1,038,100
944.800
6,156,8>0
233,000
209,000
2,643,000
2,203,000
942,000
5.177.100 1,042,100
4.216.900
170,000
208,5u0 1.528.100
2.994.200
Capital.
America
Phoenix
BOSTON,
AVERAGE AMOUNT OP
,
Banks
fVoii. XXV
t And interest.
107
107
107
107
107
55
32
20
-
QUOTATIONS OF STOCKS AND
Bid. Ask.
8BCTJBI'tTKB.
State
88. 1886.,
83,1583.
....
....
.
Bs, Ala. ft Cb.K.
88 Of 1892
8s Of 1893...
...
....
,
«...
,
,
21
21
.,
4
4
73’ Memphis ft L.R
do
.R.P. "
7s, Miss. O. ft
7a. Ark. Cent.
do
do
do
R. R
KR..
Connecticut 6s
Georgia 68
•
•
•
•
....
•
War loan..
Kentucky 6s
1879..
•
•
•
• •
•
•
.
•
•
•
6s, new..
do
do
7s, Penitentiary
do
do
do
do
do
do
6s,levee ...
8s, do
...
be, do 1875
8b,of 1910..
7s, consolidated
7s, small
...
Missouri 6s, due 1877..
1878
do
....
•
•••
•
••
•
...
•
.
•
•
•
•
.
•
tt|
f.t
80
85
•
•
•
do
do
reg. do
Iowa Midland, 1st mort. 8s.
Galena ft Chicago Extended.
Peninsula 1st mort.,conv...
Chic, ft Milwaukee, 1st mort
Winona ft St. Peters, 1st m...
do
2d mort
C. C. C. ft Ind’s 1st m. 7s, S. F..
do
consol, m. bonds
Del. Lack, ft Western, 2d m...
do
do
7s, conv.
Morris ft Essex, 1st. m
do
mort
2d
do
bonds, 1900....
do
construction,
do
7s, of 1871...
do
let con. guar.
•
....
....
ie7
•
•
•
•
....
...
....
•
...
•
'
•
•
•
Funding act, 1866
1863.
New bonds, J. & J
do
A. & O
Special
tax, Class 1
y
do
Class i
,
do 68,1886
Bhode Island 6s
South Carolina—
6s
Jan. ft July...
Funding act, 1866
Land C., 1339, J. ft J
Land C., 1889, A. ft O....
7s Of 1888
Non-fundable bonds
• •
•
6s, new
6e, new series..
34
34
34
08
57
40
...
do
do
....
.
•
•
•
•
•
••
•
•
• •
.
•
•
42^6
Erie pref.
•
...
•
...
■59
...
5*4
75%
•
•
.
•
75*6
..
35
78
.
p
3*6'
22
....
....
....
41
do
do
special.
Rensselaer ft Saratoga
Rome Watertown ft Og.
T
70
_
100
.
*
8t. Louis Alton ft T. H....
5
20
3
do
pref.
Belleville* So. Hl.,pref.
•
8t. L. I. M. ft Southern....
•
•
...
•
119
•
8
7%
C.&North’n.pref
Warrea
120
80
fflUtcel’ous Stock*
Telegraph..
Canton Co., Baltimore
Cent.N. J.Land ft Im. Co.
Amerioan Coal
ConseUdat’n Coal of Md..
Mariposa L.&M.Co
do
Cumberland Coal
,
Maryland Coal.;
Pennsylvania
•
a • •
•
•
••a
••••
....
....
•
2*6
3*4
•
•
.
•
29
3
25
pref.
ft Iron.
Harlem, 1st mort. 7s, coup...
do
do
7s. reg....
...
r
Terre Haute ft ind’polls
UnitedN. J.R. ft C.....
,
....
Missouri Kansas ft Texas.
New Jersey Southern..... ”14 "l*6
New York Elevated RR..
N. Y. New Haven ft Hart. 150
153*6
Ohio ft Mississippi, pref
20
Pitts. Ft. W. ft Ch„ guar..
93
Am. District
1st m. 8s. ;882, s.f.
do
do
equipment bonds,
rew Jersey Southern 1st m. 7s
do
do
consol. 7s
r. Y.Central 6s, 1833..... ....
do
6s, 1887.....
do
6s, real estate...
do
6s, subscription,
do ft Hudson, 1st m.,coup
do
do
lstm., reg..
Hudson R. 7s, 2d m., s.f., 1885
85
Long Island
LoHlsvllle ft Nashville....
ftt.L.K.
Cleve. P’ville ft Ash., old bds
do
do
new bds
Buffalo & Erie, new bonds...
Buffalo ft State Line 7s
Kalamazoo & W. Pigeon, 1st
Det. Mon. ft Tol.,1st 7s, 1906.
Lake Shore Div. bonds
do
Cons. coup.. 1st.
do
Cons, reg., 1st.,
do
Cons, coup.,2d.,
do
Cons, reg.,2d....
....
-
77
3
.
3*6
do
do
-
T
r
28%
•
i>
„
Chesa.
do
guar.
...
North., 1st 53..
& Ohio tis, 1st m...
ex coup
do
11
11
5*
25
do
1st
....
Spring, div.*
do San Joaquin branch
do Cal. & Oregon 1st .
do Stnte Aid bonds
do Land Grant bonds..
Western Pacific bonds.
Union Pacific, 1st mort. b’ds
do
Land grants, 7s.
do
Sinking lund...
Pacific R. of Mo., 1st mort...
do
2d mort
do
Income, 7s.
do
1st Caron’t B
Penn. RR—
Pitts. Ft. W. ft Chic., lstm..
do
2dm..
do
do
do
3d m..
...
.
•
•
•
•
100
109
no
110
....
75
....
...
109
105*6
100
115
105
....
-
•
• p
105%
85
97*4
80*6
98*6
99
93
94%
'99%
94
05
98
111*6
111%
1C5*6
100
103
103
103
do
do
do
105*4
87
1*5*6
..
•
Alton ft T.
do
do
2«*6
do
..
do
do
do
do
13
59*6
1
do
do
do
do
W. D..
Bur. Div.
2d morti.
consol. 7s
...
,
bds.. 8s, 4th series
<
Rome W’town ft Og.iBt m.con.
j;St. L. ft I. Mt. (Ark. Br.) 7s, g.
St. L. ft San F., 2d in., class A.
70
do
class B.
07
do
do
do
class C.
South Pacific Rallroad.lst m
St. L. ft So’eastern 1st 7s. gold.
St. Louis Vandalia ft T. H. 1st.
do
90
2d, guar
Sandusky Mans, ft Newark 7s.
Sioux City ft Pacific 6s
South Side, L. I., 1st ra. bonds.
do
sink. fund...
South. Cent, of N. Y. 7f, guar.
Southern Miun. 1st mort. 8s...
da
7s. 1st
So. Pac. of Cal., 1st “A” 6s, g..
112
105
Tol. Can. So. ft Det 1st 7s, g.
114
110
Union ft Logansport 7s
101
300
Union Pacific, So. branch, 6s,g
100
107*6 West Wisconsin 7s, gold
Wisconsin Cent., 1st, 7s
100*6
—
Miscellaneous List.
(Brokers' Quotations.)
CITIES.
Albany, N. Y., 6s, long
Buffalo Water, long
Chicago 6s, long dates
do
7s, sewerage
do
7s, water
do
7s, river Improvem’t
Cleveland 7s, long
+
t
+
t
+ 100
+ 110
Detroit Water Works 7s
Elizabeth City, 1880-93
do
1885-93...
Hartford 6s, various
t 111
+
t
Indianapolis 7-30s
t
Long Island City
Newark City 7s long
....
j
+
do
W ater 7s, fcmg... i
Oswego 7s
f
Poughkeepsie Water
+
Rochester C. Water bds., 1303+
Toledo 8s. 1877-’89
+
Toledo 7-30s.
Yonkers Water, due 19D8
93
90
100
107
90
107
110
103
109
111
109
102
107
Atchison ft Nebraska. 8 p. c...
33
Atchison ft P. Peak. 6s, gold..
Boston & N. Y. Air Line, 1st m 100
23
Bur. C. K. ft N. (Mil.) g. 7s....
Bur. & Mo. Riv., land m. 7s.. .t 109*6
109
do
Sd S., do 8s...+
do
4th S., do 8s...f| 109
do
5tbS.,do9s...f,109
6th S., do 8s...+ 109
do
Cairo* Fnlton, 1st 7s,gold... 05
California Pac. RR., 7s, gold .. 89
do
68,2am. g. 74
Canada Southern, 1st m. coup. 00
do
with int. certifs 60
Central Pacific, 7s, gold, conv. 104
Central of Iowa lstm. 7s,gold. 27
0
Chesapeake ft 0.2d m., gold 7s
Keokuk ft St. Paul 8b ..." ^ ■*■ 101
o
a.
.1
b>£t
ft Warsaw
8s ...
Suincy
linofs Grand
Trunk....
Chic. Dub. & Minn. 8s
Peoria ft Hannibal R.
Chicago ft Iowa R. 8s8s.
..
•
*-
o*>
S
.
o
t
Chicago Clinton ft Dub. i_8...
Chic, ft Can.South lstm. g. 7s.
Ch. D. ft V., I. div., lstm. g.7s.
Chic. Dahv. & Vlncen’s 7s, gld
Chic & Mich. L. Sh. 1st 8s. *89.
Chic. & S’thwestern 7s, guar..
STATES.
consols, Class A
Alabama
new
do
do
do
do
Class B
Class C
Georgia 6s, 1878-’86
South Carolina new consol. 6s.
Texas 6s, 1892
do
do
do
110**
104
109
86*6
67
25
2
do
do
M.&S
:..
8s
waterworks
Augusta, Ga., 7s, bonds
Charleston stock 6s
Charleston. 8. C., 7s,
109%
F. L. bds.
Columbia, S. C.,6s
Columbus, Ga.,78, bonds
Lynchburg 6s
Macon bonds, 7s
Memphis bonds C
112
112
112
112
03
do
bonds A ft B
do
end., M. ft C. RR
Mobile 5s (coups, on)
do
8s (coups, on)
do
6s, funded
02
01
30
10
0
95
104
00
45
6
0
27
5
73
7
*27
1
34
25
28
67
do
do
?5*6
S*
103
70
92%
78
*84
45
04
’55
97
90
42
00
50
35
80
44
0L
00
40
42*6
70
42
08
05
100
111
75
44
99
10 *
...
87
98
83
84
65
80
50
00
94
75
83
33
90
100
90
87
08
83
70
90*6
80
37*6
31*6
18
18
35
36
70
70
£5
38
80
88
50
80
77*6
36
40
38
60
99
97
102
50
50
80
90
stock
do
guar...
Carolina Central 1st m. 6s, g...
84
40
■
20
Central Georgia consol, m. 7s. 100
40
do
stock
Charlotte Col. ft A. 1st M. 7s.. 70
do
do
stock
102*
Cheraw ft Darlington 6s
75
East Tenn. & Georgia 6s
East Tenn. ft Va. 6s end. Tenn 80
E. Tenn. Va. ft Ga. 1st m. 7s...
do =•
do
stock
W
105
70
Georgia RR. 7s
do
stock
Greenville & Col. 7s, 1st mort.
7s. guar.....
41
Macon ft Augusta boads..
do
2d endorsed.
1
do
stock
*93
do
Memphis ft Charleston 1st 7s..
do
!
1
2d 7s...
stock..
do
Memphis ft Little Rock 1st m.
Mlsslbslppi Central 1st m 7s...
do
!
2d
m.os
..
it 8s.
.
do
do
do
_
.
end
sterling
do ex cert. 6s
8s,interest
0
25
95
82*6
98
20
40
40
28
Sds,8s... 40
4tlis,8s.. 15
Rlchm’d ft Petersb’g 1st in. 7s. 102
102
Rich. Fre’ksb’g ft Poto. 8s
Southwest RR., Ga ,conv.7s,’86
S. Carolina RR. 1st 111. 7i
do
do
do
7s, 1902
72*4
86
87
36
7s, non mort..
stock
Savannah ft Char. 1st M. 7s.... 20
Charleston ft Savan’h 6s, end 20
West Alabama 2d m.8s, guar., 100
do
lstm. 8s
99
PAST DUE COUPONS.
Tennessee State coupons
South Carolina consol
Virginia coupons
ao
consoi. coup
•
Price nomlaal
• • •
75
•
•
•
•
103
85
88
97*
m4
73,
90
45
95
87*6
72%
do
do
do mort. 7s
do
Rich, ft Danv. 1st consol. 6s...
80
103
a • • •
2d mort. 8s
N. Orleans ft Jacks. 1st m. 8s. 105
92
Certificate, 2d mortg. 8s
Nashville Chat, ft St.L. 7s.... 80
Nashville ft Decatur, 1st 7s.... 95
Norfolk ft Petersburg 1st m.8s 90
do
do Ts 80
do
2d m. 88 76
Northeastern, S. C., 1st m. 8s.. 102
2d m. 8s.. 83
do
Orange ft Alexandria, lets, 6s. 80
70
do
2ds,6s..
+ And accrued intereiA
Price nominal.
50
70
53
Ala.ft Chatt. Rec’ver’s Cert’s,
Atlantic ft Gulf, consol
do
end. Savan’h.
Memphis City Coupons
•
70
25
•09
*00
90
80
CITIES.
105
?a2*
24
2
55
25
18
15* ‘
15
75
91
40
65
51
30
28
112.4
7s, gold, 1893-1910. J.&J.
111*6 113
7s, gold. 1904
J.&J
105
10s, pension, 1894.. J.&J 104*6
Atlanta.Ga., 7s
V*
Montclair ft G. L.lst 7s.
do 2d m. Vs
Mo. K.& Tex. 1st 78, g., l904-’06
do
2d m. income...
N. J. Midland 1st 7s, gold
2d 7s
do
V. Y. Elevated RR., lstm .....
N. Y. ft Osw. Mid. 1st
do
2d 7s. conv.
do receiv’s ctfs.(labor)
do
do
(other)
98
95
Southern Securities.
(Brokers' Quotations.)
95
96
110
108
97
111
115
105
111
113
8“
34
’l8
>
Montgomery 8s
Nashville 6s, old
101*6
do * 68, new
100*6 101*6 New Orleans prem. 5s
105
do
consol. 68...
103*6
111
110
do
railroad, 6s..
do
wharf imp’ts, 7-30
109*< 110*6
05
109*6 110*6 Norfolk 6s
22
95
20
Petersburg 6s
-01*6
Richmond 6s
L00*6
40
Savennah 7s, old.
40
do
100*6
7s, new
20
Wllm’ton, N.C., 6s, gold) coup 70
23 I
80
18
do
8s, gold j on.
3*6
1*4
45
RAILROADS.
TV Ala. & Chatt. lstm.8s,end....
»+75
*4
Logans. Craw, ft 8. W. 8s, gld.
Long island RR., 1st mort. ... SI
Louisv. & Nashv. cons. m. 7s. 101
do
2dm., 7s, g.. 87
80
Michigan Air Line 8s
: - *+
Au.
15
95
91
111
RAILROADS.
t§7
.
2d mort. lnc’me
Belleville & 8. Ill.R. let m. 8s
North. Pac. 1st m. gld. 7 3-10 ..
Omaha ft Southwestern RR. 8s
Oswego ft Rome 7s, guar ....
Peoria Pekin ft J. 1st mort
’Peoria ft Rock 1.7s, gold
’Port Huron ft L. M. 7s, g. end.
io*2%
2d m..
H., 1st mort
2d mort., pref..
Bid.
jPullman
Palace Car Co. stock.
I
do
90
‘60
Cla. Lafayette ft Chic., 1st m.. 50
103
100
ft
1st
Col.
Hock
V.
7s, 30 years,
106*6
100
1st 7s, 10 years, 93
do
108
110
do
2d 7s, 20 years.., 90
1U8
50
54
Connecticut Valley <s
28
Connecticut Western 1st7s.... 20
‘90
25
107*6 Dan. Urb. Bl. ft P. 1st m. 7s, g. 23
Denver Pac., 1st m.7s, ld.gr.,g. 47
10736 109
40
Denver & Rio Grande 7s, gold. *43
112
Des Moines* Ft. Dodge 1st7s.
109
111
70
Detroit* Bay City 8s, end...*+ 05
12
8
Dutchess ft Columbia 7s.......
98
98
100*6
Erie & Pittsburgh 1st 7s
85
80
do
con. m„ 7s..
105
105*4
78
do
7s, equip...
100
103
100
Evansville ft Crawfordsv., 7s..
L8
Evansville Hen. ft Nashv. 7s... 30
21
65
Evansville, T. H. ft Chic. 7s. g, 50
*80
Flint ft Pere M. 8s,Land grant.
104%
107
167*6 Fort W., Jackson ft Sag. 8s, *J9 50
97
92
Grand
li.& Ind. 1st 7s, l.g., gu
104
102
85
do
jstls, 1. g.,notgu. 80
102* 104
51
do
1st ex 1. g. 7s. 49
122
12 L
87
t85
121
121*4 Grand River Valley 8s, 1st m.. 67
72
Houston & Gt. North. 1st Ts.g.
118&
Ho us. ft Texas C. 1st 7s. gold.. 84*6 80
01*6
do
consol. bds..
119
70
103
Indlanapoll ft St. Louis Ji st 7s
75
70
99*6 Indlanap. & Vlncen. Ist7s, gr..
75
98*6 99* International v.Texas) Istg.... 68
25
lnt. H. ft G. N. conv. 8s
57*6 58
88
Iowa Falls & Sioux C. 1st 7s... t80
Jackson Lans. ft Sag.'8s, 1st m t04
Kal. Allegan, ft G. K. 8s, gr... 92*6 W
107*6 108
Kalamazoo ft South H. 8s, gr.. 158
85_*6 86
103
87*4 Kansas City ft Cameron 10s... +93
5 7
Kansas Pac. 7s, g.,ext. M&N,^
55
do 7s, g., I’d gr.,JftJ,’80
15
do 7s, g.,
i02
do M&S,*86 10
72
70
do 6s,gold,J.&D., 1896
107*6
02
90
do 68, do F.& A.y 1895
103*
30
do 7s, Leaven, br., ’96.. 25
94* 94*5
8
do Incomes, No. 11.
mi ICO
'8*4
do
do
No. 16
02
7>6
do
8tock
65
53
Keokuk ft Des Moines let 7s..
70
do
funded lnt. 8s 65
Lake Sup. ft Miss. 1st 7s, gold. *15
119
25
23
Leav. Law. ft Gal. 1st m., 10s..
102*4 103
do
HO
63
10
70
80
70
10
con. convert...
American Central 8s....
89
75? i
do Ex. Nov.,’18,ft prev’s
Great Western, 1st in., 1888.. •
do
ex coupon
I 98
do
2d mort.. ’93.
do Ex ft Nov..’77,coup.
Quincy ft Toledo, 1st m., ’90..
do ex mat. ft Nov.,’?7,eou
Illinois & So. Iowa, 1st mort
do
ex coupon
Han. ft Cent. Missouri, lstm
Pekin Llnc’lnft Dec’t’r,lstm
Western Union Tel., 1900,coup 105*6
do
do
reg.... 194*6
*.
107
Col. Chic, ft Ind. C., 1st mort 33
do
do
2d mort
Rome Watert’n ft Og., con. 1st
4lhmor^....
uo
...
Ex & Nov.,’H, coup,
eoain’t bonds,
‘
be*
par may
8XOUBITIK8.
100
Istm.St.L. div.
ex-matured coup,
-Mmorr
103*4 Carthage & Bur. 8s
103*6 Dixon Peoria ft Han. 8s.
O. O. ft Fox K. Valley 8s
1073-6
105 H
NEW YORK.
the per cent value, whatever the
Bid. Ask.
...
Cleve. ft Pitts., consol., s.f.. 109
00
....
2d
Central Pacific gold bonds..
.{faUroad Bonds.
(otoefc Exchanue
Pi'ices.)
Boston H. & Erie, lBt m..
consolidated....
Pacific Railroads—
*
Coal
„
do
10
spring Mountain Coal....
Ontario Silver Mining....
105
do
do
do
2d mort...
Lake Shore—
Mich S. ft N.Ind., 8.F., 7 p.c.
Cleve. ft Tol. sinking fund..
do
new bonds....
•
43V
32*4
«
....
2d div. 10556
Cedar F. ft Minn., 1st mort..
‘
t
Cleve. Col. Cln. ft I
Cleve. ft Pittsburg, guar..
Col. Chic, ft I Cent
«
1st cons. firua»\...
do
77*6
Chicago ft Alton
do
pref
Indlanap. Cin. & Laf......
Joliet ft Chicago
#
Dubuque ft Sioux Clty.lst m.
73
10
Central Pacific
•
....
Indlanap. Bl. ft W., 1st mort...
75
Railroad Stoeka.
(Active previ'usly quot'd.)
Albany ft Susquehanna...
Burl. C. Rap. & Northern.
•
....
75*4
registered
.
9
...
do
do
endorsed
do
2d mort., 7s, 1879
do
do
3d
7a, 1883
4th do
do
7s, 1830
do
5th do
7s, 1888
do
7s, cons., mort., g’d bds..
do Long Dock bonds
Buff. N. Y. ft E, 1st.m., 1916...
Han. ft St. Jo., 8s, conv. mort.
Illinois Central—
....
75*4
small..
Dubuque & Sioux City.
t
Erie, 1st mort., extended
•
107
42%
Virginia—
(s, old
(s, new bonds, 1566
do
1867
6s,
es.consol. bonds
6b, ex matured coup.
6s, consol., 2d series
6s, deferred bonds
District of Columbia 3.65s.
do
do
do
Reas, ft Saratoga. 1st coup
do
1st resist'd.
3*6
8%
.
2d
3d
do
do
...
Tennessee 6s, old
do
do
•
Albany ft Susq. 1st bonds...
•
“ioj*
2*6
...
•
•••
....
40
33
33
40
40
40
35
April ft Oct
•
....
•
100
no
108
Ohio 6s, 1881
Del. & Hudson Canal, lstm.,’84
do
ao
1891
do
do coup. 7s, 1894
do
do
reg. 7,1834
19*4
19*6
•
2*4
ClaBS 3
•
•
,
75
75
55
55
10
10
7
7
3
3
..
•
•
....
18*6
18*4
do
..A.&O...,
do coup, oil, J. & J..
do
do off, A. & O.
do
.
•
110
110
110
6s, old. J. & J
A. & O
do
N.C.RR
J-* J....
no
,
cp.gld.bds.
105
no
•
__
_
f
HL*6
....
.
...
...
..
2:
2,
North Carolina—
103%
....
....
!02*ft
do loan...1883
do ..1891
do
do
1892
do
do
.1893
do
11256!
00
.
....
do coup.. 1887
6s,
a
ioo
104
9
do 1837. 100
New York State—
6s, Canal Loan, 1877..
Is,
do
18 <8
IB, gold, reg....l887
•
...
Funding, due 1834-5... . 108*4
Long bonds, due ’32-’30. 100U4
Asylum or un., due 1892. 107*6
Han. ft St. Jos., due 1886. 100
.
.
do
do
do
.
....
....
....
HI*
..
81*6
-
....
.
...
Michigan 6B,lff73-79
do
6s, 1883
do
78, 1890
....
55
55
55
55
55
50
56
Louisiana 6s
do
•
•
Price* represent
SECURITIES.
•
...
108*6
108*6
102*6
102*6
do
do
•
1(9
7b,gold bonds..
„„
•
09*6
Illinois 6s, coupon,
do
•
-
•
S. F. Inc. 6s, *9£
do
109
do
6s, 1917, coupon
do
112
114
Central of N. J
00
00*4
do
do
1st consol.,
do
con. conv..
01*6 02
do
32*< 33
42
Ch. Mil. ft St. P. ist m. 8s, P.D 118
103
do
do
2dm. 7 310, do 102
98
do
do
1st 7s, gd., R.D
do
do
1st 7s £
do
do
do
1st m., La C. D 100*4 io7%
do
do
lstm., I.ft M.D 97*4 98
93
do
do
1st m., I. ft D..
04
do
1st m., H. ft D.
do
103% 103%
do
do
do
94*4 94%
do
92
2d in.
do
do
Chic, ft N. Western sink. fund. 109
do
lnt. bonds. 105*6
d3
107%
do
do
do
ext’n bds.. j.03
do
do
do
1st mort... 107*4
92
92%
do
do
....
108
7s,new bonds...
7s, endorsed. ..
do
do
do
»
•
•
•
•
111
....
....
BONDS IN
Tol. ft Wabash,ex coupon.
104*6
do
income
Joliet ft Chicago, 1st m
,
La. ft Mo., 1st m„ guar
St.L.Jack.ft Chic., 1st m
Chic. Bur. ft Q. 8 p. c., 1st m...
do
ao
consol, m. 7f
do
5s sink’g f’d. A.&O
.....
..s
do
114
Jhlcago ft Alton 1st mort
....
Ask.
Bid.
SECURITIES.
Bond*.
‘m*;;;;;
da
do
do
do
do
do
dc
589
THE CHRONICLE
15, 1877. |
December
S3
50
30
60
c4
97
85
102
80
45
45
32
10
108
-
95
87
g*
• • • a
85
95
77
50
30
100
74
100
8*
39
82
25
25
102
102
38
AND
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, as only a sufficient number is printed to supply regular
STATE, CITY
AND CORPORATION
Subscribers.
^ANNUAL^REFOilTSr
(Mass.)
{For the year ending Sept. 30, 1877.)
the report of the President and Directors we
(For the year ending Sept. 30,1877.)
This company is well known to the readers of the Chronicle
as the old Boston Hartford & Erie reorganized.
At the recent
annual election the old board (except George S. Moulton and
William W. Tucker replace John F. Slater and Charles Dana)
was re-elected unanimously, 40,800 shares voting.
The annual
report of earnings, expenditures and transactions for the year
ending September 30^1877, has the lollowing:
The gross receipts of the company have been:
From passengers....
$121,147
From freight,
From express
From mails
Eastern
following:
The financial condition
Si
eary
condense the
than
toad to earn from its pres¬
of the company is much stronger
year ago. The ability of the
ent business an amount over and above
at was a
rentals and interest upon the debt, has been clearly
by the results of the past year. A marked improvement
shown
in credit has been the natural consequence. . There is reason to
think that, within the coming year, the entire debt,
that part fully secured by special mortgages or
will be converted into certificates of indebtedness.
Since the last report some important litigations have been
excepting
good collateral,
a
conclusion in a manner not
this corporation.
477.399
38,052
.
and extra baggage
.
14.511
10,161
car service
From rent of road <u-e of track)
From rent of property
From passenger
From
3,678
8,036
1,777
gravel account.,
From Norwich & Worcester
operating expenses, neces-
to meet
brought to
England Railroad.
New York & New
3 nuestmcnis
From
fVoL. XXV.
THE CHRONICLE
590
$974,784
35,552
Division
$1,010,336
Total income
operating expenses and taxes, including those on the unfinished
portion of the road in Connecticut and New York, and the whole
cost of steel rails purchased during the year, have been
The
Leaving the net earnings for the year ...
paid for rent of depot
—.
Leaving a balance applicable to
unfavorable to the inter¬
ments of
.
grounds and terminal
Out of wh'ch have been
lands in Boston
interest and permanent improve¬
..
770,884
$239,652
55,268
$184,383
The gross receipts of the corporation show an unexpected in¬
issue between the Eastern Railroad and the crease over the returns of the previous year. This is especially
Portsmouth Railroad have also been finally gratifying, because in 1876 the Centennial travel over our Phila¬
adjusted. The outstanding debt of the Portland Saco & Ports¬ delphia line and a contract with the city of Boston for raising the
mouth Railroad, endorsed by the Eastern Railroad, for whose grade of our road across the Swett street district added to our
benefit it had been created, has been provided for, and a perma¬ income, and because the competition during the current year
nent modification of the lease, beneficial to this company in secur¬
between the various steamboat lines to New York lias caused &
ing a reduction in the rental, has been effected, and this company great reduction in rates lor freight. The expenses charged to
pays for the use of the Portland Saco & Portsmouth Railroad the operation of the road are large, being caused by needed
about four dollars on each share of stock semi-annually for four
renewals and repairs, which have accumulated upon the present
yeais, from July 1, 1877, and after that perpetually at the rate of
management, owing to the neglect of the old corporation to
three dollars per share.
maintain the road and equipment in good condition.
When the
Since the last annual report, the question therein alluded to road has become first-class in all its appointments, the annual
respecting the rights of creditors holding ten-year notes of the cost of maintenance will be greatly reduced, and the ratio of 'its
company as collateral, and then litigating in the Supreme Judicial
operating expenses to its earnings will then, it is believed, com¬
Court, has been finally decided by that tribuual.
The effect of pare favorably with other roads running from Boston.
the opinion of the Court is that all creditors, with collateral of
During the last year a new road has been constructed by an
that nature, are entitled to receive certificates of indebtedness
independent corporation, extending from our line at Franklin to
only for their respective debts, computed as cash as of Sept. 1, the Providence & Worcester Railroad at Valley Falls. It wag
1876, and only upon the surrender of the notes held as collateral. built by cash subscriptions from the citizens of Franklin and
To determine the question of the payment of tin interest accru¬
other points upon the line, without any pecuniary assistance or
ing December 1 on the bonds of the Portsmouth Great Falls & encouragement from us. But as the road afforded a convenient
Conway Railroad Company, a petition for instructions has been link of communication between our Eastern and Hartford
filed in the Supreme Judicial Court.
Meanwhile, the amount of Providence & Ftshkill divisions, and was possesse i of no
the interest has been set aside as a fund with which to respond equipment of its own, your directors entered into a contract for
to the judgment of the Court should its decision be in favor of
its oper. tion, which took effect October 1.
By extending our
the road to pay the interest.
short trains, which formerly stopped at Franklin, over the new
Tabulated comparisons of earnings and expenses for five years road to Valley Falls, and thence by the Providence & Worcester
are as follows :
road to the city of Providence, a new route has been opened to
Net
Gross
Operating
ests of
The questions at
Portland Saco &
..
I,
Fiscal Year.
1872 73
earnings.
expenses.
earnings.
$2,224,839 28
$l/»6,697 41
1,9)8/81 63
$543,141 8:
that city.
In all their attempts to
negotiate the new bonds, your direc¬
of obtaining a
2,069,8"
what they believe to be a first-class security, and
1,787,376 96
2,470,971 {,2
1875-76
thus keeping the annual interest charge within reasonable limits.
799,317 31
1,7(8,790 20
2,508,107 51
1876-77
Ton 8
Tons of
Number
Number
They believe that the earnings of the completed road will be
carried
carried
Freight
Passengers
more than sufficient to
pay interest, if needed, on the whole
one mile.
carried.
o; e mile.
carried.
Fiscal Year.
20.65’,8-4
586,153
75,788,970
$10,000,000
loan
authorized
of
; but they are not willing to bur¬
5,6.46,851
1872-3
669,420
37,086,866 den the stockholders with a fictitious debt by forcing tlie bonds
85,731,313
6,019/90
18 3-4
661,886
35,«87,333
75,201,867
1874 5
6:34,508
34.224,363 upon the market at an unreasonable discount for tlie sake of a
69,453,812
4,79v275
1875-6
7’j4.810
£9,099,659 few months’ gain in the time of the completion of the road.
68,502,002
1576-7
The President refers at some length to the present situation of
All expenditures have been charged to operating expenses,
the company, and the fact that the State of Massachusetts holds
as well those for new work, additions, improvements, &c., as
those for ordinary repairs and maintenance of the property. $3,000,000 of the stock, and the legislative committee will report
in January on the subject of extending further aid to the road.
Nothing has been charged to construction or equipment account.
He urges that they should get speedy possession of the Hartford
r.OAD-BKD AND TRACK
Inc.
1876-77.
Providence & Fishkill road, and that then the total debt would
Expended for
1875-78.
Repairs of road-bed and
be only $4,000,000 with interest, liability uf $280,000 annually,
$13,411
$ 167,157
track
$152,745
and $3,000,000 more of bonds would complete the road to the
New rails, iron or steel, less 1
46,468
65,961
2,987,299 57
2.827,290 74
1873-74
1874-75
988/17 94
757,419 13
6/3,594 0G
1 61
tors have kept
fair price for
in constant view the importance
•
•
•
value of old rails taken
V (500
up
) 981 t.
New ties laid
tons steel,
re-rolled iron)
(2 201 tons steel)
$23,125
(68,' 47 ties)
$ 9,927
(56,233 ties)
The road-bed and
they have been for
i
Hudson River.
19,493
3.198
(1!,814 ties)
Equipment and Property—
represented by B. II. &
E. RR. “Berdell Bonds”.$20,010,000
Underlying liens paid to
perfect title
755,654
New construction by N. Y.
266,055
& N. F. RR
New equipment added
104,523
Construction
.
Equipment
,
I
Investments—Real estate
Stocks, &c
..
$S82,S50
„
Total investments
Materials aud supplies on hand
Cash and ca^h funds
Due from fr*4ght and ticket agents
Doe from railroads and others
Profit and loss
..
As
30, 1377.
SHEET, SEPTEMBER
Resources.
$7,000,0 0
*921,9(0
631.360
$21,126,183
Supplies at d materials on
1,517,210
219,0 0
4 ,60i
111.46S
hand
Balances due from
individuals
Cash
135,843
10,298,802
SEPTEMBER
30, 1877.
(Jr.
Dr.
To HR.
track are at present in better condition than
some years past.
GENBIUI, BALANCE
GENERAL BALANCE SHEET,
.
54,012
roads and *
25,106
7,820
$21,213,122
By Capital Stock—
w
Bonds,” entitling holders
of same to stcck in the
N. Y. & N. E. RR. Co....
7 per
cent bonds,
cent notes cf
Funded debt...
Notes payable
Current hilis and pay-rolls audited
Current traffic balances and accounts payable.
Accrued interest
Accrued rentals of leised roads
Unpaid dividends
Notes payable
Bil s payable (for supplies).
Balances
due connecting
Total
*
Cash rec* ipts on
Profit and losr.
Equipment belonging to leased roads is n^t
New York Providence &
13,476,777
1,214,270
185,826
52,793
included in these flgmes.
23,932
62,095
Oct. acc’nt
182,573
Boston.
(For the year ending September
has the following :
30, 1877.)
The annual report
192,247
110,578
$20,245,911
23,WU
road8
$21,213,122
$4,997/0')
15,817
376,000
167o....
Liabilities.
Capital stock
14,305,000
$20,000,000
1st moit.,7 per
due 1905...
$20,215,911
Total
„
$5,69:),000
Amount actually issued
B. H. & E. RR. “Berdell
RECEIPTS.
$189,465
191.021
1>3,557
Through passage
I Local
1
“
Through freight
Local
“
....
129,793- $693,887
December
• • *
account, balance accounts
balance accounts
If&il service.
TwtptvBf
Rents
Gas
manufacturing
BVrrv
.......
...........
...
..........
•••
sal >on
Dividends P. & 3. S. S. Co
Receipts under contract Fall
River Line
%
INCOME ACCOUNT FOR THE YEAR.
cash assets from last annual report
Receipts
Received of A. & W. Sprague,
balance loan
$1,056,192
$494,694
Total
Expenses
Dividends
$358,997
$325,0,'0
• 4.560
15,000
58,590— 403,150
10,251
50,281
$113 536
853,69b
68,959
bonds
road bonds.
bonds, issue 1869..—
xtraordinary—Richmond switch accident
Construction account
....
325,0 0
78, HO
10,251
56,281
*
...
Interest
••
Extraordinary expenses
Const notion account—
Sylvester Sias & Co
cent deducted by P. O. Department, three
Paid unclaimed dividends
Balance cash assets carried to new account—
Loss by
Ten per
Cash in Stonlngton.
Due from connecting roads
Due from M. Morgan’s Sons
Due from Providence & Stonington
Due from Warwick Railroad
Due from P. O. Department
Total
INVESTMENT
GENERAL
ending Sept. 30, has the following
COST
231
919
$32,254
13,243
12,830
2.655
2,5'^6—
88,651
$1,056,192
-
EQUIPMENT.
Expended by receiver up to 30th September, 1876
Total expended by receiver up to September, 1877
Expended during year
Number or passengers carried
Number of tuns of freight
$203,927 78
245,420 80‘
$41,492 5()
883,1902,761,493
during year
EXPENSES OTHER THAN FOR CONSTRUCTION.
$886,999
637,130
1,519,751
135,035
839,112
Maintaining the road
Repairs of machinery
Op rating the load
Payment of liabilities
Hire of ca s and engines
report says : “A proper comparison of the figures presented
foregoing statement with the corresponding period of the
previous year requires that the business of the month of Sep¬
tember, 1875, phould be deducted from the gross earnings and
expenses for 1876, as stated in the last annual report. On this
basis, the gross receipts show a falling off of $122,626 72, viz.: on
passengers, $87,880 74 ; on freight, $50,089 61 ; making a total
of $137,970 35 ; the discrepancy of $15,343 63 being made up by
increased dividends and rents received from the P. & S. S. Co.
Comparing, on the same basis, the expenses, we find a decrease
for the year of $53,000, and in the net earnings a total decrease
of about $70,000—a result not so satisfactory as could be desired,
but, in view of all the circumstances, far from discouraging.
“Comparing the amounts paid during the year for dividends and
interest with the net earnings. tlier6 appears to be a deficiency of
$44 000; but of this amount, $25,000 was the proportion divided
for the month of September, 1876, and charged in this year’s ac¬
count, and nearly $13,000 appear as due and have since been paid
by the Steamboat Company. The remaining $6,000 are more than
made up by the Company's interest in the undivided profits of the
P. & S. S. S. Company, of which it owns $804,900 out of the
$1,260,030 of stock issued.
“The establishment of an all-rail freight line by the New York
& New England Air Line and New Haven roads, in March last,
was made the ostensible cause by tbe Fall River Line for a notice
of withdrawal from the freight compact which had existed for
several years, and the result has been a reduction of freight rates
between New York and Boston to two-fiftbs of those prevailing
previous to that time.
“A conference with the managers of the New Haven Road resulted
in a proposition to withdraw the all-rail freight, provided the
Stonington and Providence lines and the Fall River Line would
agree to restore and maintain passenger rates as they had pre¬
viously existed. This was at once acceded toby this Company and
the P. & S. S. S. Co., and submitted to the Fall River Line, which as
promptly refused; and it then appeared, and was bo stated by the
managers of that line, at a meeting held in Boston, that their inten¬
tion was to nrevent the establishment of a first-class passenger
line to Providence direct, or that they would inaugurate and con¬
tinue a fight until the ‘ weakest went to the wall.’
Notwith¬
standing this, the Line was started on the 7th of May, by the
'Massachusetts * and 'Rhode Island/and continued, with con¬
stantly-increasing popularity and success, until the accident to the
'Massachusetts/ on the night of Oct. 4th.”
New York New Haven and Hartford.
The
in the
60
63
71
68
12^
55,508 8*
30.%605 30
Miscellaneous
Tolls on other roads
$3,876,143
Total
EARNINGS.
$734,275 57
2,911,5 3 50
From passengers
From
freight
Other
sources
162,486 If
$3,803,305 18
67,838 68
Total
Deficit
Deficit past year
25.070
S. S. Co
:
OF ROAD AND
2,007
mouths
NEWS,
Atlantic & Great Western.—We gave recently a statement
of this company for the year ending June 30.. The annual state¬
ment, aB made to the State Engineer of New York, for the year
491,699
Expenditures
Balance,
$8,835
4-051
16,053
*03
120,785
6,072
,....$858,696
Total receipts
Ntt earnings, 1877
Paid dividends— ...
Paid interest on 6 per cent
Paid interest on extension
Paid interest on 7 per cent
Expenses •
591
THE CHRONICLE.
15, *1877.]
140,u78 9$
& Pacific Telegraph Company.—The board of
has ordered the distribution of the Franklin Telegraph
Company stock, owned by the Atlantic & Pacific Telegraph
Company, to the stockholders of the latter company. It owns
6,290 shares of the Franklin stock out of a total of 10,000 of $100
each. This is equal to a dividend of about 4 per cent on the
capital stock of the Atlantic & Pacific Company.
;
Central of Iowa.— The Special Master, appointed by the
Atlantic
managers
United States Circuit Court to take the votes of the
the various plans of reorganization, reports that
bondholders
540 holders,
representing $2,591,000 of bonds, have voted, of whom 14, rep¬
resenting $398,000, voted for the Cowdrey-Sage plan, and all the
on
rest for the
original
or
Cate plan.
Central of New Jersey.—The plan recently submitted by the
with as prompt acceptance as they de^
committee has not met
sired,
rent
of the bondholders claiming that floating debt credit*
much favored in the plan. Various reports are cur¬
what will be done—oneof them to the effect that the
some
ors were
as
too
to
bondholders will foreclose.
Cincinnati Hamilton & Dayton.—A meeting of C. H. & D;
directors and of bondholders of the Cincinnati Hamilton & Indian¬
apolis road was held, Dec. 13, in Cincinnati, at which President
Shoemaker made a new proposition in regard to the bonds|of|the
latter road, the forthcoming interest on which the C. H. & IX
claims an inability to pay.
Tin proposition was that the bond¬
holders scale their bonds of $1,800,090 down to $900,000, taking
for the $900,000 which they would lose the same amount in stock
of the road.
This was rejected, but a proposition to scale the
bonds one-third was passed by a bare majority.
consolidated mortgage
Cincinnati Sandusky &
of bondholders was held
mittee presented a report
Cleveland.—An adjourned meeting
when the com1
in Boston, December 7,
recommending that Receiver Farlow be
he is a large owner in the
Columbus Springfield & Cincinnati road. Mr. Farlow protested
against his removal as UDjust, and after some discussion the
whole question as to action for the removal of Mr. Farlow and
the appointment of a new receiver was referred to a committee,
consisting of Frank Thompson, C. L. Young and Edward F.
Davis, who are tojreport to an adjourned meeting.
* •
replaced by a new receiver, because
City of
LawrSte«^|[ansas.—The
has a direct debt to-day amounting
its proportional part of the debt of
city of Lawrence, Kansas,
to over $500,000,
and with
the county of Douglas her
obligations amount to nearly $850,000. With an assessed valua¬
tion of something less than $2,500,000, the city claims that some
compromise must be made by her creditors, or that the city will
end in bankruptcy and ruin. The city authorities say that they
(For the year ending Sept. 30, 1877.)
are desirous of doing all that their resources will permit, and
In advance of the Company’s pamphlet report we give the fol¬ offer to cred.tors in place of old bonds a new 6 per cent bond,
with a provision for a sinking fund and a present levy for the
lowing from the report to the New York State Engineer :
Capital stock paid in
$15,500,000 interest. The new bonds are to be given in exchange at the rate
Funded debt...
None. of 50
per cent for the old bonds, and in this they say that the city
Floating debt by last report.
235,259 lias offered all that it can
possibly pay. Mr. Frank Morison, of
Floating debt by present report
229,809
Cost of road and equipment
15,693,048 Boston, wlio lately, at the request of bondholders, made an exam¬
of passengers during year
jNnmber
3,564,366 ination of the city’s affairs, says: “ I would, therefore, say to
Tons of freight during year.
150,168
TP'ytuw
any one who is unfortunate enough to own any of these railroad
Maintaining road
.^T.
$543,908 aid bonds, it is impossible for you to collect your whole debt. No
Repairs of machinery
298,265 matter how obstinate you fight you will be forced in the end to
rps
....
Operating the road
1,380,203
Total
Earnings.
.
~
Passengers
Other sources
Total
m
} ^Deportation
Payments for other than construction.
i°.te.r.eBt-
Dividends—Two of
surplus fond
To
Total
Total
compromise, and, when it comes to compromising, I do not think
will ever get more than fifty cents on a dollar out of the
because it is not possible for a community to pay heavier
city,
$2,381J04 taxes than such a compromise will entail.”
1,326,707
Messrs. George William Ballou & Co., bankers, 8 Wall street,
245.44S
New York, and 72 Devonshire street, Boston, have been appointed
$3,964,060 financial agents, and, at the request of bondholders, have ac¬
$2,222,377 cepted the trust.
130 000
Detroit Eel River & Illinois.—This railroad, purchased some
l,5f 0,000
51,683 time Bince at foreclosure sale for $750,000 by J. F. Joy and Elijah
Smith, has reorganized and filed articles of association. The
$3,924,060
2,114,147 capital stock is $4,000,000, with shares of $100 each.
$2,222,377
5 per
surplus fund
cent
you
592
CHRONICLE
THE
Hannibal & St.
Joseph.—The committee appointed at the
meeting of stock and bond holders on October 18th, 1877, of
which Mr. W. B. Leonard was elected the chairman, make a re¬
port from which we condense the following : “ The committee re¬
tVOL. XXV.
Company, and they desire to get
a conveyance
from the Farmers’ Loan and Trust
reserved.
Company.
of the franchises
The decision was
*
Philadelphia and Reading.—Mr. Chas. E. Smith, formerly
quested Mr. Richardson to place his resignation in the hands of president of this company, has printed a report in
Philadelphia
the directors, which was done; and the resignation was held by
charging mismanagement in the years 1871-5. Mr. Smith, it
them until his term of office had expired.
The committee called seems, was permitted to act as an investigating committee in 1876
upon Frank Work, Esq., who had made the loan referred to at
with Messrs. J. B. Lippincott and Isaac Hinkley, and
they made a
the meeting of the stockholders.
They found that one hundred report Nov. 29,1876, which has never before been made public.
and sixty thousand dollars ($160,000) had been borrowed from The
report is denied by Mr. Gowan, president of the companv,
Mr. Work in good faith for the temporary use of the company, so far as its conclusions
go, and he says the refutation is in last
and had been properly applied ; that 7 per cent per annum was
year’s annual report, and will be repeated in this year’s report.
the interest upon the loan, without commission or bonus.
The The report of Mr. Smith’s committee has the following:
loan has since been paid and the collaterals returned to the com¬
The committee appointed to investigate the accounts
respectpany
The committee then refer to the removal of the receiver, fully report that they have made such investigation as appeared
and say : “We found that there was nothing in the condition of to them
necessary, and present the following statement made up to
the property or the finances of the company which justified, or Nov.
30, 1875, since when $10,000,000 of bonds have been issued.
furnished any excuse for, the appointment of the receiver, as
They present a joint balance sheet of the Reading Railroad and
the company was not, and had never been, in default on any of the
Reading Coal and Iron Company, by which is shown the
its obligations.
We are satisfied that the receiver’s appointment total stock and bonds of the two companies, the cost of the railwas the result of a conspiracy to wreck the road, the secret his¬
road and its equipment and the lands, as follows in round num¬
tory of which we now possess. Our investigation disclosed the bers :
fact that the maungement of the road, prior to the summer of
Railroad....
21781
1875,
was very
for
counts
bad—it
the low
stocks.”
wasteful and extravagant. This ac¬
range of prices of all the securities and
was
The committee’s report consists
entirely of conclusions and
generalities, and contains nothing of facts and exhibits not
heretofore published.
The points most wanted by the holders of
securities are full and detailed statements of the operations and fin¬
ancial condition of the company in every one of the past five years.
They wish to have an opportunity to form an opinion of their
own as to the real worth of their securities, and it
is to be hoped
this will soon be forthcoming, as the committee say that “ the
president and directors have employed the services of a compe¬
tent and experienced expert, who has already commenced a
thorough investigation of the company’s affairs, and if found ad¬
visable will reorganize the company’s system of book-keeping.”
Joliet & Northern Indiana.—At a meeting held in New
York, December 7, the bondholders rejected the proposition made
by the Michigan Central Company, lessee of the road, to issue
new 7 per cent bonds in place
of the over-due bonds, principal
and interest to be guaranteed by the lessee. A committee was
appointed to confer with the lessee.
Maryland & Delaware*—This road will be sold,December 20
under foreclosure of the first
inoi tgage.
meeting of the bondholders was held in Boston, December
6, at which a committee was appointed to represent the bond¬
holders at tha foreclosure sale, and to take such action as they
may deem expedient to protect their interests.
,
—A
Mobile & Ohio.—In the matter of the appeal from the order
for the sale of this road, the United States Supreme Court on
December 10 made the
following order:
On consideration of the motion to dismiss this appeal and of the
argument
of counsel thereupon had. as well on behalf of Hays. Pierson and Dupuy and
Dancan and Elliott, in support of the motion, as of counsel against the same,
it is ordered that said motion be and the same is hereby denied.
And on motion of counsel for Hays, PiersoD, Dupuy, Duncan and Elliott, it
is further ordered that the operation of the supersedeas
arising upon this
appeal be so far suspended as to allow sale to be made of the mortgaged
premises, in pursuance of the decree below; and that the commissioners
appointed to make the sale conduct the same in all respects as directed by
the decree, except that the portion or share of the proceeds which would
enure to the benefit ot the appellants by the reversal of the
decree, so far as it
sustains the validity of the coupons of 1674, be paid in cash to the commis¬
Loss in working, about
And discount and interest
Total
$14,400,000
showing the net result of the busi¬
and the Coal and Iron Company each
year since 1871, showing a total profit for the five years of $2,347,680, and dividends declared by the railroad company, $18,040,264; leaving a deficit of $15,692,583, of which $3,226,175 is dis¬
count
on
bonds sold. How much of this item of interest is proper¬
ly chargeable
stockholders, such amounts
‘The
$113,810
floating assets and liabilities Sept. 30
were as
Cash balance
:
$121,729
Agents’bilances, accounts due, &c
Total assets
Liabilities for wages,
follows
28^158
$152,683
3t,0J7
supplied, connecting lines, &c..
Surplus of assets
...$113,840
For the year 1877 the returns for nine months, with
approxi¬
mate estimates for the remaining three months show a
falling
off
of total earniDgs compared with last
year of about
operating
was
about
reduced over $43,500.
$15,000 less than last.year.
expenses were
$58,000,
New York and
or
Boston.—Application
was
$58,500. The
The net revenue
made in the Brook¬
lyn Supreme Court by the Farmers’ Loan and Trust Company
for information about the company's
power, under the act of
1876 to convey the New York and Boston Railroad to a
majority
the bondholders of the road.
The railroad was bought in
trust for the bondholders under a foreclosure for
$3,280,835,
made by the trust company under a decree of the Court.
These
bondholders have now formed a new company to
of
operate the old
road, called the New York Westchester & Putnam Railroad
so
excluded
being
:
$1,597,000
1,935,0(10
Amounting together to
$3,532,000
A statement analyzing the operations of the Reading Coal and
Iron Company, and showing a net loss in working in five years of
$297,443. The operations of the C >al and Iron Company are
properly to be considered in two classes: First, collieries worked
by the Company, and second, collieries leased. The loss on col¬
lieries worked by tbe company has been $2,059,635 ; the gain on
those leased, that is the amount of rovalty received, is $1,753,191,
leaving the net loss above stated, $297,443.
STATEMENT
B, SHOWING NET RESULTS FOR FIVE TEARS.
From which deduct
<
cc •'-*
*
«
^
3
j_*
•g
1
O
Gf
,
^
-
Ai
I
61
°’ 0.5
Ah'
Q-i
°w)n
<a
Qir: ej
4.".*
S
2®
£ oq c
.
.
<
A<
Profit.
v
$3,993,271
$361,252
2,951,4-49
$56,379
2,302 071
0 3,370,641
6 3,770,159
124.817
177,878
4,130,779
3,915,372
135,782
$3,410,631
$3,080,630
3,593,391
3.598,884
3,701,601
517,550
582,259
39,430
Lots.
1675
2,861,938
...$1,415,173
Balance
cost of lands during their development is sub¬
For 1873
For 1874....
1873. v ..
1874......
1,703,495
on
mitted to the Board.
A statement showing the amount of the floating debt on Nor.
30 in each year since 1871, and the amounts transferred on Nov.
30,1873 and 1874, from the books of the Railroad to those of the
Coal and Iron Company, and so excluded from the amounts of
“
Debts due by the Company” given in the annual reports to the
following:
„
$300,000
14,100,000
A statement marked “ B,”
ness of the Railroad Company
New Jersey Southern.—General Manager W. S. Sneden has
173,521
114,801
$113,000,000
......
The difference of $9,000,000 being represented in the current
business of the Company. Included in the cost of the lands are :
submitted to the trustee a statement for the three years and nine
months from Jan. 1, 1874, to Sept. 30, 1877, in
whj^ch he gives the
$1,817,335
35,000,000
70.000,000
7,000,000
*
Total
order of the Court thereon.
Total....
$109,000,003
Represented by stock
Represented by bonds
Floating debt
sioners, and by them into the Registry of the Circuit Court for the Southern
District of Alabama, to await the disposition of this appeal
and the further
Working expenses
Construction, equipment, <fcc
Expenses of foreclosure
$54,000,000
55,000,000
Reading Goal and Iron Company
$17,903,803
4,784,124
174,918
d $15,038,259
$669,777
c
Reserve fund, 1370
3,736,255
2,094,104
$16,040,264
$2,145,765
201,911—
Deficit..
2,347,680
-
..
$15,692,583
Philadelphia & Reading Coal and Iron Company:
$400,000 credited to mining for increased value of Improvements, per
appraisement.
b $753,137 credited to mining for value of supplies and dead work at col¬
a
lieries.
-
.
.
$874,245 charged to profit and los3 for depreciation in improvements, baa
debt*, &c.
d Includes d’seount. on nnrtiage loans in 1871 and 1872, $947,293; 1874,
$763,69:5; 1875, $515,193; total, $2,226,175.
The substance of the above report may be briefly summe d up
in these three points :
c
4
First. The real earnings of the railroad and the coal and iron
since 1871 have been $2,347,630. and the dividends paid by the
$18,040,264,
or over seven times the real profits.
Second. That on two occ isions the amount of the
.
company
railroad,
floating debt was trans¬
ferred on the day when the books of the railroid company were to be bal¬
anced from the books of the railroad to those of the coal and iron company,
and so concealed from the Joard and the stockholders.
Third. Teat the loss on the collieries worked by the company has been
$2,050.6^5 and the ga n on those leased has been $1,753,191. The difference
being the net loss, $297,4.3.
Portland & Ogdensburg.—The Mercantile Trust Company of
New York, for itself and others, have filed a bill in equity in the
United States District Court of Vermont against the Lamoille
Valley Railroad Company and others. The defendants are the
Lamoille Valley, Montpelier & St. Johnsbury and the Essex
December
THE
Ml, 1877. J
CHRONICLE
593
Railroad Companies, these roads forming the Vermont
•£!) c € o tti m c r c i a 1
i m e 8.
the Portland & Ogdensburg Railroad, and Luke P.
Poland and A. J. Jewett. The bill sets lorth that the orator is the
owner and holder of $100,000 in hret mortgage bonds of these
UO M M ERCIA L EPIT O ME.
consolidated roads, of which bonds $2,300,000 were issued ; that
four instalments of interest are in arrears, and the companies in¬
Friday NianT, Dec. 14, 1877.
solvent; that iu April, 1876, said companies being about to fail,
General trade partakes of a holiday character.
Values have
certain parties, desiring by fraud and device to obtain control, been
subject
to
many conflicting influences. The fall of Plevna
started a scheme of a second joint mortgage of $500,000, which,
gave rise iu some quarters to strong hopes of an early restoration
by agreement of the fi'st mortgage bondholders, was to have of
peace, and caused a momentary improvement in cotton and
preference over their mortgage; that to obtain such agreement
in breadstuff’s. The political troubles iu Paris, how¬
depression
they represented said sum would complete the line and enable
ever, counteracted the effect of the fall of Plevna, and when
them to resume payment of interest immediately, and they de¬
County
Division of
'
bondholder*. It accuses Poland and
breach of trust, and asks for their removal and the
ceived the first mortgage
iewett
of
a
in France seemed finally assured, it had an effect in the
The probability of the passage of the silver bill
has caused an advance in gold and exchange, and freights have
been slightly cheaper, but exports have not been much increased
thereby. 'There is, at the close, a very unsettled feeling in trade
peace
cotton market.
appointment of a receiver.
Savannah City Debt.—A press despatch is as follows
Savannah, Dec. 12.—The Bondholders’ Committee to day met circles.
in conference with the Finance Committee of the City Council to
Pork has been greatly depressed, but closed with a better
take action in regard to the city bonds. The New York and demand, at $13@$13 25 for mess on the spot and sales at $13 10
Charleston holders were represented by G. W. Williams, of @$13 15 for Feb. Lard has declined sharply in the past few
Charleston, the Augusta creditors by W. E. Jackson, and the days, and to day was active at the reduction—prime Western
Savannah holders by J. M. Guerard and Henry Hull. The city selling freely and closing at $8 35 on the spot, $8 321 lor Dec.
submitted a proposition to issue new bonds to the same amount and Jan., $8 40 for Feb., and $8 50 for March. Bacon has
as that of the existing ones for thirty years, paying 3
per cent declined to 6^@6£c. for Western long and short clear, with large
for the first ten years, 4 per cent for the second and 5 per cent sales for Dec. and Jan. delivery at these prices.
Cut meats are
for the i.hird ten years.
The bondholders rejected this, and pro-, also decidedly lower, especially for smoked.
Beef is in good
posed that the city issue coupons maturing oa July 2, 1878, in demand, but beef hams are quiet. Tallow is about steady at 7£@
long bonds at 5 per cent., the city to pay the interest on all the 7 9-lGc. Butter has been dull and drooping, especially the
bonds after that date to a commission composed of persons not medium to good qualities, the supply of which exceeds the
connected with the city government, the rents of the city to be demand. Cheese has met with a good demand and is a fraction
paid to said commission, who will invest the same in city bonds higher. The following is a comparative summary of exports of
only ; the city to levy a tax sufficient to pay the interest and hog products from October 27 to December 8, inclusive :
current expenses.
This was rejected by the city authorities, and
Decrease.
1876.
1877.
practically remains in statu quo.
Selma & Gulf.—This road was offered for sale at Selma, Ala.
November 19, under a decree of foreclosure granted by the Ala¬
bama Chancery Court.
No bils were offered and the sale was
adjourned.
the matter
Springfield & Northwestern.—This road will be sold in
Pork, lbs..
Lard, lbs
5,812,800
29,13*,029
Bacon, &c., lbs
Total, lbs
The progress
17.971,358
19,065,351
82,919,187
103.122,955
25,503,768
of the slaughter of swine has been &b follows:
At—
Springfield, Ill., December 28,under a decree of foreclosure. ’The
road is completed from Springfield to Havana, 47 miles.
Western Union
Telegraph.—The following report is made
for the quarter ending December 31,1877: In the report pre¬
sented by the executive committee at the last quarterly meeting
of the board, held September 12, 1877, the net profits for the
quarter ending September 30 (August being partially and Sep¬
tember wholly estimated), were stated at $792,100.
The official
returns for the quarter (ending September 30) showed the profits
to be
$16,169 less than the estimate. The following
revised statement, based upon complete returns, will show the
•condition of the company at the close of the quarter ending
September 30, 1877 :
.
$775,931,
or
Surplus, July 1,1877,
as per last quarterly report..
Net profits, quarter ended September 80, 1577....
From which deducting :
Dividend of IV per cent paid Oct. 15. 1877
One quarter’s interest on Bonded Debt
One quarter’s proportion of Sinking Funds....
Construction account for quarter....
Sundry telegraph stocks, patents, &c
.
...
$525,925
It 1,674
20,000
97,962
4.589
There remained a surplus October 1, 1877, of
The net profits for the current quarter ending December
31 instant, based upon official returns for October,
nearly complete returns for November, and estimating
the business for December, will be about
Add surplus October 1, as above
r rom
which
appropriating
.*
:
One quarter’s interest on bonded debt
One quarter’s proportion of sinking funds
$112,000
20,000
$183,072
Iu view of the
preceding statements the executive committee
recommend that a dividend of
PPr cent he declared payable
on the 15th
day of January next, to stockholders of record at the
close of business on the 20th day
of December, instant.
—The Western Union directors have ratified a contract recently
inade with the Central Pacific Railroad
Company for the lease of
the
telegraph wires of that company west of Salt Lake City, for
H79 years.
This includes two wires all the way, and a third wire
considerable portion of the distance, from Salt Lake to San
and between 2,000 and 3,000 miles of wire in other
parts of California. These lines have heretofore made conneo
whh the Atlantic & Pacific Telegraph Company.
TrttAiiu
says :
“In dividing the shares (6,300) of the Frank-
Telegraph Company held by the Atlantic & Pacific Com¬
pany among the stockholders of the latter, the object is to place
he stock in
the hands of its real owners before it passes under
Western Union management. By this means
esterQ Union will be
deprived of a controlling interest in
4^0 Franklin
stock, which it otherwise would have had after the
©xt annual
election of Atlantic & Pacific directors.
It is
nown that the Western Union
managers are not pleased with
^tion
of to Atlantic & Pacific directors, and that
will
be made the
prevent the distribution of the stock."
an
Dec. 6.
1S76.
570,0.0
180,000
160,000
110.0C0
Milwaukee
115,0C0
75,000
90,000
1,046.000
1,185,0C0
67,0:t0
....
....
....
630.433
All Otll’:
....
1,621,454
1,821,423
export.
pore, ex
guayra;
Hhds.
Stock Dec 1,
1877.,.
Receipts since Dec. 1, 1877
Sales since Dec. 1,
Stock Dec. 12, 1877
1877
There has been some plight
for berth room, but charters
before.
On the whole, a very
Francisco,
ln
St
Stock Dec. 14, 1876
a
..
185,000
90,000
....
Nov. 1 to
sundry vessels; 4,098 bags Maracaibo; 3,952 bags La346 bags St. Domingo; 575 bags Savanilla; 841 bags
90,865 Angostura; 350 bags St. Domingo in transit to Europe.
Rice is in moderate call and steady. Molasses is quiet for for¬
$811^004
eign, but new crop New Orleans has been quite active at 35@49c.
Refined sugar is in fair demand, partly for export, at steady fig¬
ures; standard crushed, 9f@9fc.
Raw grades continue quiet and
132,000
unchanged: fair to good refining, 71@7|c.
Leaves balance of
$709,004
A dividend of 1%
per cent on the capital stock outstanding requires.
525,931
Deducting which leaves
No.
Nov. 1 to
Dec. 5.
1877.
540 000
Kentucky tobacco has continued in fair demand, but mainly for
Sales of the week are about 800 hhds. of which 150 were
for home consumption and 650 for export.
Prices, however, have
continued to favor buyers ; lugs are quoted at 3£@5c. and leaf
$7.5,085
775,931 G@llc.
Seed leaf has remained very dull, and the sales for the
week are only 537 cases, as follows : 50 cases sundries, 5@16c.;
$851,017 170
do., 1876 crop, N. England, ?£, 9, 15@18c.; 56 do., 1876 crop,
Pennsylvania, 121c.; 50 do., 1876 crop,Wisconsin, p.t.; and211do.,
1876 crop, Ohio, 4£ to 14c.
Thsre has been a fair demand for
Spanish tobacco, and the sales are 400 bales ,at 77|c.@$l 10.
Rio coffee has latterly been more active, and quotations close
760,151
with a pretty firm tone; fair to prime cargoes quoted at 18i@20c.
$90,865 gold. Stock here in first hands on the 12th in3t., 58,487 bags.
Mild grades have been more active and firm.
Recent sales
include 11,761 mats Java, ex sundry vessels; 4,700 mats Singa¬
$750,138
,
2,930,800
3,207,617
8,-43,600
32,342,646
67,036,7 b9
j
i
42.959
42.959
7.807
7,607
9,020
41,746
41,746
12,549
Boxes.
Bags.
17,279
4,8^6
3,583
18,557
15,491
195,772
5.098
28,410
172,410
96,511
Melado.
13
139
130
U
2,193
advance in rates of ocean freights
have remained more or less as
fair business has been reported.
To-day, business was quiet, but rates without important
changes.
Grain to Liverpool, by steam, 7f@8d.; do. to Lon¬
don, by steam, 8£@84d.; flour to Glasgow, by sail, 3s. ; grain to
Cork for ordbrs, 6s.; do. to Penarth Roads and Bristol Channel,
5s. 7|d.@6s.; refined petroleum to Cork for orders, 4s. 6d ; cases
to Palermo, 25c., gold. .
Naval stores have been moderately active, and, as a rule,
pretty steady. Spirits turpentine closes at 331c. ; common to
good strained rosin, $1 70@$1 72J. Petroleum has been quiet
but steady; crude, in bulk, 8c. ; refined, in bbls., 13ic., asked.
Ia American and Scotch pig iron little or nothing has been done,
and the feeling is rather weak and irregular.
In rails, libpral
sales are pending, and rumors were current that 40,000 tons steel
have been taken by the Pennsylvania Railroad Company, but no
particulars can be given. Ingot copper remains steady, with
late sales of 125,000 lbs. ~
Lake ...
at 17|@17fc. Grass seeds have
effort! been dull and drooping, at8J/38£c. per lb. for clover, and $i 35@
' $1 40. per
bush, for timothy. Whiskey is quiet at
$1 10, tax paid.
CHRONICLE
THE
594
[vol. xxv.
:>lace in the face of some improvement in gold and exchange, by
which the operations of exporters were
at this
market have been more liberal, but stocks have not increased.
COTTON.
favored. Receipts
December 14, 1877.
Friday, P. M.,
To-day, the market was quiet for spots, and prices nominally
Crop, as indicated by our telegrams unchanged. For future delivery, the speculation has been less
; and the market from the close on Friday last, continued
from the South to-night, is given below.
For the week ending active
to decline throughout Saturday, Monday and
Tuesday. - On
this evening (Dec. 14), the total receipts have reached 202,805
Wednesday the opening showed further weakness, and the lowest
bales, against 174,365 bales last week, 172,216 bales the previous ligures of the week were made, as follows : Dec., 1134c.; Jan.,
week, and 200,980 bales three weeks since, making the total re¬ ll’38c; Feb lT48c.; March, ll;60c.; April, 1 i’74c.; showing a
decline of 26@33 points from the highest figures of the previous
ceipts since the 1st of September, 1877, 1,876,687 bales, against
week, which were on the Wednesday before. The influences at
2,227,834 bales for the same period of 1876, showing a decrease work have been active, but conflicting.
The fall of Plevna
since Sept. 1, 1877, of 351,147 bales.
The details of the receipts raised hopes of an early restoration of peace, and caused a tem¬
for this week (as per telegraph) and for the corresponding weeks porary advance in prices; but this influence was more than coun¬
terbalanced by the poliiical excitement at Paris, the increased
of five previous years are as follows :
receipts at the ports, and the return of excellent weather for
1872.
1873.
1874.
1875.
picking
at the South. The reaction on Wednesday from the
1877.
1876.
Receipts this week at—
lowest prices of that day was caused by purchases for the early,
34,996 months by some of our leading Greek houses, and by the demand
68,698
55,98G
59,747
61,715
62,815
New Orleans
19,444
13,893 to cover contracts which invariably springs up alter a sharp
23,179
18,314
20,091
23,12*1
Mobile
The market opened yesterday quite buoy,
decline has occurred.
22,360
22,366
19,960
l
id n«7
23,126
24,144
Charleston
ant, on the peaceful advices received from Paris, but the close
4,020
1,094
1,808
1,658
Port Royal, &c.
34,968
30,479 was depressed by the decline of silver at London and the bel¬
30,615
24,358
25,153
23,884
Savannah &c
19,975
20,693
ligerent speech” of tlie English Secretary of War on Russo22,531
o
2S,862
23,816
Galveston
Turkish affairs. To-day, there was further depression and prices
556
637
1,325
993
43S
Indianola, &c
declined 6@9 points.
5,415
7,146
5,487
11,83
10,075
10,528
Tennessee, &c
The total sales for forward delivery for the week are 356,300
323
411
701
989
1,095
699
Florida...
bales,
including — free on board. For immediate delivery the total
2,530
6,063
3,779
5,529
10.451
6,07*2
North Carolina
sales foot up this week 6,791 bales, including 2,811 for export,
12,975
17,745
19,364
22,928
17,971
16,457
Norfolk
in transit.
595
1,086 3,913 for consumption, 67 for speculation, and
631
1,239
1,358
2,593
City Point, &c
Of the above, 2,606 bales were to arrive.
The following tables
125,357 show the official quotations and sales for each day of the past
188,434
202,805 196.436
Total this week
The Movement of the
,
007.78
....
..
>•
j
j 196,481
193,642
1,876,687 (2,227,814 11,957,528 .1,-21,858 1,524,615 1,529,220
Total since Sept. 1....
for the week ending this evening reach a total of
133,938 bales, of which 76,007 were to Great Britain, 30,433 to
France, and 27,498 to rest of the Continent, while the stocks as
made up this evening are now 743,611 bales.
Below are the
stocks and exports for the week, and also for the corresponding
week:
New Cotton.
The exports
week of last season:
-
Exported to
Week ending
Great
Dec. 14.
Britain.
New
23,729
Orleans*
Mobile
•
•
•
•
Charleston
7,135
Savannah, &c....
3,637
16,842
3,622
4,416
4,985
7,765
7,858
New York
Total
Same
this
week
week.
1876.
Conti¬
nent.
39,227 251,831
5,299 50,257
30,872 75,427
19,214 104,403
293 050
91 067
190 V*?
785
8 550
11 248
807
9,213
9,419
12,950
4,452
9,123
7,665
39,433
27,498
133,938
563,108 149,899
Ile8,fil8
ports}:
76,007
Total this week..
1876
1877.
1,200
...
70.685
89,055
89,173
Fair
New Orleans.—Our telegram to-night from New
above exports) the amount of cotton on shipboard
that port is as follows: For Liverpool.50 500
91,447 206,501
23,153 52,309
56,000 38,000
above exports) on shinbales; for other foreign,
6,602 bales; for coastwise ports, 4,502 bales; which, if deducted from the stoefc.
would leave remaining 53.1S4 bales.
} The exports tills week under the head of “other ports” include from Balti¬
more, SSO bales to Liverpool and 1,100 bales to Bremen ; from Boston, 2,420 bales
to Liverpool; from Philadelphia, 993 hales to Liverpool, and 100 to the Continent;
from Wilmington, 4,130 hales to Liverpool.
,
Middling Fair
SINCE SEPT.
PORTS.
1876.
1877.
Britain
France
500,873 148,853 64,176
1,350
187,850
17,704
43,294 29,436
237,553 302,709
51,464 12,418
237,124 276,891
8,618
36,103
282,941
206,801
1,688
35,795 95,686
22,101
9,782
2,628
1,780
7,220
72,458
72,955
45,420
211,460 317,097
44, 021 41,357
22,932
Mobile
Charlest’n*
..
Galveston*.
New York..
Florida
•
N. Carolina
Norfolk*
....
ports
Tot. this yr.
Tot. last vr.
••
....
..
Other
Great
446,650
103,4*23
N. Orleans.
Savannah
1.
1
1
TO—
Other
forei’n
Total.
•
.
1,800
6,0C0
•
•
•
4T,2;’0 146,913
47,357
...
487,101 119,456 131,320 737,8S7
1,673,882 1
.
i2,031,:-98
621,791'173,943!124,853
920,512
593 479
^
Under the
do not correspond precisely
724.765
667,794 934.333
with the total of
telegraphic figures, because in
to incorporate every
The market for cotton on the spot
accessary
10*
10*
.
Tues Wed. Tues Wed
ID*
ll*
11*
11*
11*
0 1-16
10 1-16
10 1-16
10*
10*
10*
iO*
10*
10*
10*
to*
10 15-16 10 5-16 10 15-16
10 13-16 10 13-16 10 13-16 10 13-16 10 15-16
11*
11 7-16 11 7-16
11 7-16
11 11-16 11 11-16 11 11-16
11 15-16 It 15-16 11 15-16
12 7-16 12 7-16 12 7-16
12 15-16 VI 15-16
Middling.
11*
U*
7-16
11-6
15-16
7—1
15-1C
ll
11
11
12
12
11/4
11*
ll 9-16
ll*
L*
11*
It*
J1*
ll 9-16
11
11 13-16 ll
12 1-16 12
12 9-16 12
13 1-16 13
..
9-16
13-16 ll 13-16
1-16 12 1-16
9-16 12 9-16
1-16 13 1-16
U*
9-16
13-16
1-16
9-16
1-16
li
11
12
12
13
8TAINED.
Sat. Mon. Tues Wed.
MARKET AND
£
..
has been moderately active
for consumption and export, but prices were not sustained, a
reduction of l-16c. in quotations having been made on Tuesday,
irem ll^c. for middling uplands to 11 7-16c. This decline takes
10*
11
ll
11
Easy, unch. quot..
Quiet steady,low.
434
328
505
257
Easier
1,231
1.301
....
27
•
•
•
•
.
.
•
1P33
2.800
11*40
11-41
700
100 s.n. 17tll. 11*42
700
11-42
200
11-43
290 8.il. 12ih. 11-44
dO.l
200
200
s.n.
Deliv¬
eries.
1,877
.
2,021
6,791
1,000
53,*/00
iw
856,300
4,000
311
....
400
800
800
600
board)
statement of the
free on
(all middling or on
bales.
cts.
bales.
cts
1,000
11-43
2,700
10,800
9,200
5,5tO
11-42
K-43
...1-44
11-15
10 200
....11-41
500
500
20)
400
100
500
100
600
TOO
100
1 .*4 •
..
..
11-50
1151
1 *52
..11-54
11*55
11*57
11*58
.....11-59
11-60
.
For
2.500
lath.11*17
11*47
4 2(0
U-47
5,790
4.800
11'-'8
11-49
6.4U0.:
3,30........
1,300
1,700
9 309
*
.1150
li *54
11*52
11-33
11*39
11-40
700
4.0 H)
4 r00
11-41
3,800,-
H-60
January.
10,700
5,500
1,900
c».
bales.
1T&
ll®3
)}'*’
2,(00.
1,900
2 6il)
8,290
11-66*
•>709
1,80!.. —}{;|J
i,too
2.7W
■....11,6»
145,410 total
Jan.
1-53
11-54
11-55
11*36
11 57
U-58
11-59
15,100 total Dec.
11 -J4
600 s.n. Uth,11-48
66.700
47,100
61,300
63. i00
53,900
1,769
•
....
67
3,913
•
....
•
40
271
....
2,811
.
i:th.l\*c9
11*39
20)s.n.
Sales.
423
585
....
1,050
600
723
Quiet
1.200
FUTURES.
AND TRANSIT.
For forward delivery, the sales (including —-—
have reached during the week 356,300 bales
the basis of middling), and the following is a
1,100
11
!
Steady,unch. quo.
Friday...... Quiet, uuch. quo..
Total
9*
10*
10*
ConSpec- Tran¬ Total.
sit.
sump- ulat’n
x
*
9*
10*
10*
S*
10*
9*
10*
10*
SALES.
SALES OK SPOT
Closed.
.
13-16 9 13-16
7-16 10 7-16
11-16 :o u-16
1-16 11 1-16
9
10
10
11
.....
Spot Market
Saturday..
Monday.. .
Tuesday
Wednesday
Thursday..
Fri.
Th.
Dec.’S. Dec.14.
Dec. 8. Dec.10. Dec.ll. Dec.12.
...7.
For December,
bales.
cts.
100
11-34
8 0
11*35
100....
11*36
700
11*37
It 0 s.n
11T8
preparing them it is always
correction made at the ports.
12*
9 15-16 10 1-16
10*
!0*
9 15-16
9 15-16
10*
10*
sales and prices:
Point &c.
the
13
13
9 15-16
19,205
head of Charleston is
These mail returns
12*
13
10%
103*
23,5 )0
included Port rtoyal, cue.; under the head of
Galvestonia Included lndlano;a,&c.; under the head of Norfolk, is Included Ciij
*
12*
13*
12
12*
Ports.
....
•
11*
U*
12*
12*
13*
12*
12*
13*
12
Good Ordinary.
Strict Good Ordinary
Low Middling
StOCK
52,025 265,0.4 70,435 246,974
800
19,854 85,466 50,577
76,823
63,812
94,233
21,503
91,728 117,211 100,795
27,846
46,122 77,619 85,444
1,401
66,586
15,285 115,059
2,628
1,655 10,055 29,335 32.S61
•
11*
11*
12*.
12*
13*
New Cotton.
<r
wise
ll
11 5-16
ll 7-16
11*
1.1*
12
it will be seen that, compared
EXPORTED SINCE SEPT,
11
11 5-16
11 7-16
Fri.
Fri. Th.
Th.
FrI.
Th.
Frt.
Th.
Dec.14. DeC.13. Dec.l4.
Dec.13. Dec.l4. Dec.13. Dej.14. Dec.13.
10 1-16
9 15-16 9 15-16 10 1-16 10 1-16 10 1-16
Ordinary
$) lb. 9 15-16 9 15-16
10*
10*
1"*
10*
10*
10*
10*
10*
8trlct Ordinary
10*
10*
10*
10*
10*
u>*
10*
10*
Good Ordinary
10 15-16
10 13-16 10 13-16 10 15-16 !0 15-16 10 15-16
Strict Good Ord’ry. 10 13-16 10 i3-16
11*/. 11*.
ll*
ll*
11*
1*
11*
u*
Low Middling
!l*
H*
11*
11*
il*
1W
U*
Strict Low Mlddl’g 11*
l1 9-16
il
9-16
11 9-16 11 9-16
ll 7-16 11 7-16
11
7-16
7-16
ll
Middling
11 13-16 !1 13-16 11 13-6 11 13-11
11 11-16 11 11-16 !1 11-6 11 11-16
Good Middling
12 1-16
11 15-16 12 1-16 12 1-16 12 1-16
Btrlct Good Mfddl’g 11 15-16 11 15-16 11 15-16
12 9-1C 12 9-16 12 9-11
12 7-16 12 7-16 •2 7-16 12 7-16 12 9-16
Middling Fair
13 1-16 13 1-16 IS 1-16
12 15-16 12 15-16 .2 15-16 12 15-16 13 1-16
Fair
with the corresponding week of last season, there is an increase
In the exports this week of 7,142 bales, while the stocks to-night
are 215,669 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. 7, the latest mail dates:
RECEIPTS
11
ll 5-16
11 7-16
11*
11*
12*
.
,
Dec.ll. Dec.12. Dec.ll. Dec.12.
DeMl. Uec.12. Dec.ll. Dec.12.
Middling
Good Middling
Strict Good Mlddl’g
Orleans snows that (oesiae*
10*
10*
In 9-16 10 9-16
10 18-16
10
13-16
10 13-16
10*
10 9-16
11*
ll*
Tues Wed. Tues Wed
.
and engaged for shipment at
hales ; for Havre, 59.250 bales : for
19,500
the Continent,
bales; for coastwise ports, 4,1450 bales; which, If deducted fronr
the stock, would leave 127.50J bales, representing the quantity at the landing and tr
From the foregoing statement
ll
lb.
Ordinary
Strict Ordinary
Good Ordinary.....
Strict Good Ord’ry.
Low Middling
Strict Low Middl’g
126,796 743,611 959,310
presses unsold or awaiting orders.
t Galveston.—Our Galveston telegram shows (besides
hoard at that port, not cleared: For Liverpool, 26,719
ll V
12
..
11*
u*
11*
U*
11*
New Cotton.
871,825 1.047,333
*
10
10*
10
10
10
10 7-16 10 7-16 10 7-16 10 7-18 10 9-16
10 11-16 10 1L—16 10 11-16 10 11-16 10 13-16
11
10*
10*
10*
10J*
11 3-16 11 3-16 11 3-16 ll 3 16 11 5-16
11 7-16
It
5-16
11
5-16
11 5-16 11 5-16
..V H>.
..
Strict Ordinary
Good Ordinary
Strict Good Ord’ry.
Low Middling
Strict Low Mlddl’g
Middling
Good Middling
Strict Good Mlddl’g
TEXAS.
ORLEANS.
Sat. Mon.
Mon. Sat. Mon. Sat. in on
Dec.10.
Dec.10. Dec. 8. Dec.10. Dec. 8. Dec.10. Dec. 8.
St?
Middling Fair
5,679
1,910
4,623
568
7,923
Total since Sept. 1
Stock.
58,068
8,242
17,230
10,522
12,497
12,950
Norfolk.
Other
France
,
Ordinary
N.
ALABAMA.
UPLANDS.
RrFebrua7;-«
2.HX)
3,100
2 5(X’
!}:£
"
.......11*51
730C.'. ......tl'W
December
t
.
ttl()
* 1
2 900
..
1.300
11-66
7(0
11-67
...11*68
11-60
11 70
11-71
11-72
11-73
11-71
ll"75
11-76
11-77
11* .8
11-70
11- 0
11-31
11-82
1,500
2,2)0
.11-32
S00
.11-34
.11-85
g 700
...
.
a’yoo...
’«1Y1
100
'
..
2 000."
"toj...
iioo...
-
soo
1,900
2,600
V(K)
1 5'KJ
..
..
,
..
2 <00...
l’soo...
SOO...
v<0)
900...
..
!08.500 total
2.5)0
3.KX)
200
For April
4(0
1! * 74
iOO
.11-75
TOO
.IT 6
30 j
.11*77
500
.11-78
400
lt<»
1(0
.1T80
200
11--U
400
1T82
11-83
20J
100
1T84
2)0
IT85
1
100
11-86
200
90 >
11-87
11-38
11-89
1. 00
.
1"2 14
sight to-night
compared with the same date of 1870, a
decrease of 539,923 bales as compared with the corresponding
date of 1875, and a decrease of 635,654 bales as compared
.12\0
.12-21
SOO
1(0.
400
2 >0
200
...
...
.1213
.12-:*
.12-15
.12-22
with 1874.
At the Interior Ports the movement—that is
.12-25
Week
Receipts. Shipments. Stock.
For August.
100
12-03
100
12-06
8 0
.li-11
T2-21
10'1
12-28
*00
12:24
100.
12 25
100
4,500 total May.
Lower.
1T.52
H-47
1T53
11 65
11-76
11-53
11-71
11-83
11-94
12-04
12-15
12-20
12-21
1T55
.
.
.
.
.
,
.
,
.
Closed— Steady.
102 X
4" *9
Exchange
Sold
1T87
11-93
12-09
12- *.2
T2-17
It 50
Quiet and
Ba-H.y
bteady.
stead).
•
.
..
Mon.
Lower.
.
103
4-SO
10.’*
4S9X
June.
For
500....
100....
too
2 U....
100....
5U0
11-92
U-93
11-94
11-95
! T36
11-97
..
.
..
.
.
900 total Aug.
410....
Wed.
TUC3
Lower.
1T39
11-44
1T 56
11-68
11-79
11-89
1-2-00
12-0;
T2-10
1140
Variable.
1T40
11-46
IT 58
1T71
11-81
1T92
12 "03
12-03
12-12
1T45
Fri.
Lower.
IT 86
1139
IT 50
11 '61
11 72
1T83
10-95
1201
12-06
11-40
Barelv
Steady.
Firm.
s
1 3>£
4 HI*
4.80
ea
iy.
Steady.
15,480
11.615
3i763
2,562
5,103
5,093
9,178
13,326
4,191
2.8 5
10,129
4,413
1,399
3,449
8,(>37
19,663
4,100
45,877
3,840
4,702
22,425
3,409
13,788
3,067
14,900
9,101
10,347
10,844
6,478
75,983
7,764
54,364
46,453
107,633
51,355
43,679
135,417
Dallas, Texas
3,220
1,831
3 500
2,625
Jefferson, Tex.(6<tf.)
Shreveport, La
Vicksburg,Miss....
Colnmbus, Miss
Eufaula, Ala
Griffin, Ga
2,000
7,701
8,384
2,105
1,997
1.778
6,548
7,489
1,050
1,997
1,400
8,570
4,036
2,239
5,576
678
374
Macon, Ga
Montgomery, Ala
Selma, Ala
Memphis, Tenn
Nashville, Tenn...
Total, old ports
..
8tock at Havre
....
Stock at Marseilles
8tock at Barcelona
9,970
7.434
4-80X
4-8JX
1877.
1876.
1875.
1874.
306,000
17,500
488,000
44,500
482,000
53.5C0
531,000
323,500
532,500
535,500
649,000
108,250
3,750
35,000
7,503
139,500
3,000
39,000
8,750
38,500
40,750
22,500
8,500
45,750
12,250
163,750
2,250
118,000
115,000
9,000
47,250
13,500
2,215.
1,3)7
3,993
7,835
2,774
7.220
6,688
6,273
7,166
1,336
•1,391
6.933
1,905
2,333
773
762
3.563
1 645
4,243
1,970
3,031
15,860
6,345
1,718
3,459
704
13,061
29,926
6,623
6,682
13,880
4,2 4
Atlanta, Ga
5,622
8,94?
5,125
1,603
13,4 '6
Rome, Ga...
Charlotte, N.C
St. Louis, Mo
Cincinnati, O
3,621
2,246
3/6S
4.572
2.036
8,325
8,762
6,920
23,874
5,666
00,041
51,360
78,012
53,572
50 844
88,709
114,405
97,813
185,665
101,927
94,523
224,126
stocks
have
Total,
i ew
3,6S0
12,708
ports
Total, all
totals
old
show that the
interior
7,271
1,82?
during the week 7,911 bales, and are to-night 27,764
same period last year.
The receipts at the
towns have been 3,009 bales more than the same week last
increased
bales less than at the
same
year.
Weather Reports
by
Telegraph.—There has been
a
great
improvement in the weather the past week, in fact it has been as
favorable
could be almost
as
103
by cable anc
telegraph, is as follows. The 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. 14), we add the iteni of export*
from the United States, including in it the exports of Frida;
only:
Total Great Britain stock
ending Dec. 15, 1876.
6.605
7,946
4,149
2,825
7,115
5,692
22,861
3,780
The above
Thus.
Firmer.
11-43
11-43
1/59
11-71
11-82
1T93
l i"U3
12-07
1 <-l!
1 -45
The Visible Supply op Cotton, as made up
8tock at Liverpool
Stock at London
Week
Receipts. Shipments Stock.
3,127
Augusta, Ga
Columbus, Ga
2,100 total July.
.
MIDDLINO UPLXXD3—A.MEBIOA.N OLA88IVIOA.TTON.
..
ending Dec. 14, 1877.
—
following will show the closing prices bid for future de¬
Market- B joyant.
n-58
December..
1T(;4
January
IT77
February
1TS9
March
ITU)
April
12*10
May
12-20
June
7,
12-24
July
12 26
August
IToO
Trausf.orders
receipt#
shipments for the week, and stock to-night, and for the
corresponding week of 1876—is set out in detail in the following
livery, and the tone of the market, at three o’clock P. M. on the
several dates named:
Sat.
the
—
exchange 10J Dec. for Jan.
Fri
as
and
For July
200
.12-00
400
700
100
.12 07
100
.12 US
400
.12-10
...
.
T2-07
.12-(S
.'2-'0
These figures indicate a decrease in the cotton in
of 701.183 bales
statement:
.
.
T2-01
’
6,600 total June.
...
.
12-08
.12-6:1
:...
400
400
For May.
11-82
ino...
l."83
2)0,...
11-S5
200....
1T87
1(H)....
1T8S
200
400.
1189
8i0....
1T90
1T92
2'H)....
100
U-91
1T95
200....
11-97
200....
IT 38
300....
11-94
3 (1
ltf\0
200...
12-01
MO....
12-03
200
12-04
200....
12 C9
lOU.
60,700 total March.
.
100
900
100
200
SOU..,
10,200 total April.
.11-87
.11-88
.IT 9
.11-90
.1T91
ct*.
.1 TCI
following exchanges have been made during the wiek.
•16c. paid to
The
700...
900....
.11-8;
6tH)
■200
1 T9<
1T94
11*95
1T38
11-89
1*2-0)
12". 1
T2-02
..
.
.11-81
.1/M
bales.
no
4C0
8 0
6(0
20)
10
200
CP*
..
200..
...
1-67
11-6 j
.
1,WU.'...
........11-65
1.900
...11-66
1,700,...
4 7(0
..
700
Feb.
2,’40J....
Cts.
.11-69
1,207)
6/00
6,500
1,100
For March.
11-59
1,300 ...
11-6)
] 200 ...
11-61
1,10') ...
11-62
500....
11-63
2,200...
11-64
2900;...
The
1»0
2 H)...
900...
11* co
11-61
11-62
i 1’63
11-61
11-65
.
lful'w
.11-74
.11-75
.11-.6
1 i *77
.IT.8
.11-79
600
200
'
1
100...
11-53
11*54
.11*57
4,800..
•
500...
11*73
i v5i
M00
2,510
4,200
1,7 *0
..
iCfYl
.11-72
bales.
;
4fvw
.11-70
.11-71
bales.
700
200...
100...
CtS.
_
‘bales.
595
THE CHRONICLE
15, 1877.]
everywhere, and picking has pro¬
gressed finely.
Texas.—It lias rained
Galveston,
on
one
day this week, a
sprinkle, tlie rainfall reaching six hundredths of an inch. The
ranged from 42 to 63, averaging 55. The cause
thermometer has
of the
large receipts this week is the improved roads.
lndianola, Texas.—We have had hard rain on two days of the
week, and the prairie and bottom roads are again bad. Average
thermometer 52, highest 62, and lowest 43.
The rainfall haa
been
inch and fifteen hundredths.
one
Corsicana, Texas.—There has been
with
a
rainfall of five
mometer
a
shower here on one day,
an inch.
Average ther¬
hundredths of
49, highest 72, and lowest 30.
The roads are better*
Stock at Antwerp
3,750
9,250
5,500
killing frosts this week on four nights.
Dallas, Texas.—We have had no rainfall this week. The free
23,OOo movement of tlie crop here is caused by tlie comparatively good
76,500
roads.
There is a large amount of grain being planted, and a
16,750
Average thermometer 49, highest 72, and
4,500 heavy immigration.
8tockat other continental ports..
5,750
14,000
7,000
22,000
233,500
312,250
331,000
313,500
Stock at Hamburg
Stock at Bremen
..
.
8toci at Amsterdam
8tock at Rotterdam
Total continental ports
Total European stocks
2,706,477
2.545,217
108,000
490,000
49,COO
565,000
65,000
743,611
107,653
18,003
959,310
baies.2,005,294
United States exports to-day
..
148,000
29,000
116,000
63S,009
.81,000
708,074
117,643
18,000
40,000
8tock in United States ports
Stock in U. S. interior ports
Total visible supply.,
982,500
844,750
Egypt, Brazil, &c.,afloat for E’rope
14,500
29,750
50,250
10,000
866,500
557,000
India cotton afloat for Europe....
American cotton afloat for Europe
48,000
135,417
-
530,000
77,000
740,277
145,178
18,000
2,640,948
Of the above, the totals or American and ether descriptions are as folio.:
American—
Liverpool stock
Continental stocks
American afloat to Europe
United States stock
United States interior stocks
United States exports to-day
29,000
530,000
740/270
145,178
18,000
2,099,727
1,772,717
1,691,448
163,000
17,500
64,500
40,000
268,000
317,000
53,500
205,000
381,000
116,000
H8.000
49,000
65,000
81,000
77,000
107,653
18,000
Total American.....;...bales. 1,671,294
East Indian, Brazil. cfcd.—
Liverpool stock....
London stock.
Continental
stocks
..
India afloat for Europe.
Egypt, Brazil, &c„ afloat
ToW East India. Ac
.
.
150,000
165,000
126,000
638,000
708,074
117,643
18,000
143,000
169,000
490,030
743,641
220,000
191,000
565,000
959,310
135,417
44,500
121,250
108,000
108,000
113,000
225.500
334.000
606,750
772,500
949,590
1,671.294
2,093,727
1,772,717
1,691,448
Total visible supply..bales. 2,003,294
Price Mid. Uplands, Liverpool ...6 9-16d.
•2,706,477
2,545,217
6 9-16d.
?d.
2,640,948
7*<27^d.
xotai
American
We have had
lowest 31.
4
week. Planters
greatly disappointed at
Tlie thermometer lias averaged
Brenham, Texas.—It has not rained here all the
are
generally gathering corn.
tlie result of
tlie cotton crop.
They
are
58, the extremes being 44 and 71.
New Orleans, Louisiana.—There has been no rainfall here this
week. The thermometer has averaged 49.
Shreveport, Louisiana.—We have had a heavy frost the early
part of this week. Picking is being rushed, and is rapidly ap¬
proaching completion.
The weather has been remarkably favor¬
condition, and the receipts are
Average thermometer 50, highest 70 and
able, the roads are in excellent
expected to increase.
lowest 31.
There has been no rainfall during the
week.
Vicksburg, Mississippi.—It has not rained here during the
week, and picking lias been progressing finely. The thermom¬
eter has averaged 51, the extremes being 69 and 30,
Columbus, Mississippi.— Cotton is coming in very rapidly.
Little Rock, Arkansas.—The weather during the week ha#
been delightful, and is helping everything in the planting inter¬
est.
The thermometer has averaged 53, the highest being 78%
and the lowest 25.
Nashville, Tennessee.—There has been no
rainfall hero this
week, and the weather has been more favorable fot picking.
The thermometer has ranged from 29 to 55, averaging 42.
_
Memphis, Tennessee.—We have had no rain here this weel^*
picking is progressing finely. There is, however, no mitl*..
and
[VOL. XXV,
THE CHRONICLE
596
Average thermometer 48, highest
gation of reported damage.
(5G and lowest 30.
Per Cent.
Yield in
1876-77.
States.
Yield in
1677-7$.
Increase. Decrease.
Mobile, Alabama.—There has been no rainfall here this week.
Crop accounts are more favorable. Picking is progressing finely. North Carolina
About one-half the crop in this section has been marketed and South Carolina
planters are sending cotton forward freely. Average thermome¬ Georgia
Florida
ter 50, highest GO aud lowest 33.
Montgomery, Alabama.—The thermometer has averaged 47 Alabama
during the \verk, the highest being 07 aud the lowest 30. There Mississippi
Louisiana
has been no rainfall.
Texas
Selma, Alabama.—It has not rained here all the week.
Arkansas
Mad'ion, Florida.—Telegram not received.
Ttnnessee
Macon, Georgia.—Telegram not received.
Atlanta, Gtorgui—The weather has been warm and dry all the
Total
week.
The thermometer has averaged 4tf, the highest being 62
-
225.000
-.
10
....
315,000
478,000
55,000
£60,0(0
639,000
£78,000
735,0J0
15
....
6
....
5
.
11
..
£>68,710
537,540
499,800
7
32
-.
.
50,050
588,000
....
....
5f:o,0oo
449,320
'
9
....
.
202,600
267,750
-
6
310,0(0
,
4,485,000
..
.
,
,
625,400
310,000
,
8-6
4,099,070
and the lowest 28.
Columbus, Georgia.—About
section has been
marketed.
three-quarters of the crop in this
The thermometer has averaged 48
during the week.
rainfall here, the- weather
week. The thermometer has aver¬
aged 52, the highest being 71 and tLe lowest 32.
Augusta, Georgia.—The weather during the week has been
clear and pleasant, no rain having fallen.
Crop accounts are
about the same.
Picking is making good progress and is near¬
ing completion. Planters are sending their crop to market freely.
Average thermometer 44, highest 70 and lowest 28.
Charleston, South Carolina.—The weather has been cold and
dry all the week. The thermometer has averaged 51, the high¬
est being 69 and the lowest 36.
The following statement we have also received by telegraph,
Showing the height of the rivers at the points named at 3 o’clock
Dec. 13. We give last year’s figures (Dec. 14, 1876) for comSavannah, Georgia—We hare had no
having been pleasant all the
parison:
r-
Dec. 13, ’77.—*
Feet.
New Orleans. .Below high-water
mark...
Above low-water mark
Nashville
Above low-water mark—
Shreveport. ...Abovelow-water mark—
Vicksburg....Above low-water mark—
Memphis
....
23
25
Inch.
r-Dec. 14, ’76.—
Inch.
Feet.
8
14
1
9
4
4
2
4
8
10
4
9
0
It
8
4,099,070bales, or 87,370 bales more
of last month. This increase is due to a ma¬
terial change in the estimate for Louisiana.
We make no
account (for the purposes of this compilation) of the changes
in acreage from last year, for the reason that the Cotton
Exchange reports have always heretofore given the yield of the
State, and not the condition of the plant. But if we understand
rightly the New Orleans report this month, they would have ue
add the increased acreage in their department to their estimate
of the yield.
As the acreage in Louisiana (according to the
Agricultural Bureau) was this year 6 per cent more, and in Arkan¬
sas 5 per cent more, and in Mississippi 4 per cent more than last
year, this would add for the New Orleans department, say 6 per
cent, or 34,680 bales to Louisiana’s crop; about 2 per cent, or
12,780 bales to Mississippi’s crop; about 3 per cent or 17,700 bales
to the Arkansas crop; making a total to be added to the above of
65,160 bales. If, therefore, our view of the New Orleans report
is correct, the Cotton Exchange reports this month show a crop
gives us a crop of
This
than the reports
of 4,164,230 bales.
'
reported below high-water mark of 1871 until
Detailed Cotton Exchange Reports for December.—The
Sept. 9, 1874, when the zero of gauge was changed to high-water
mark of April 15 and 16, 1874, which is 6-lOths of a foot above following are the Cotton Exchange repoits tor December, issued
this week:
1871, or 16 feet above low-water mark at that point.
Norfolk Department.
Cotton Exchange Crop Reports.—The following is an
The Norfolk Cotton Exchange (II. S. Reynolds, Chairman; W. D. Ronntrec,
epitome of the Cotton Exchange Crop Reports for December 1st, and K. P. Barry, Committee on Information and Statistics) issues the following
report, covering the State of Virginia and the following Counties in North
and the results reached by them, as near as we are able to make Carolina: Rutherford,
Lincoln, Catawba, Rowau, Davidson, Iredell, Burke,
Wilkes. Caldwell, Alexander, Davie, Forsythe, Yadkin, Stokes, Surrey,
it up:
Rockingham, Caswell, Person, Granville, .Warren, Franklin, Nash, Wake,
North Carolina.—(Norfolk Exchange.)—The character of weather Hyde, Pitt, Green, Cartaret, Craven, Beaufort, Tyrrel, Washington, Martin,
Bertie, Chowan, Pasquotank, Camden, Currituck, Gates, Hertford, Northamp¬
since November 1st, 9 correspondents say, has been more favorable, 7
ton and Halifax.
say about the same, and 15 say less favorable than last year. A decreased
yield of 10 to 15 per cent reported by 20, and an increase of about 5 per
North Carolina and Virginia.—31 replies from 20 counties.
cent reported by 5 correspondents.
We average the yield, from above stutement, at 10 per cent decrease.
j* Nine say the weather for gather ng has been more favorable, 7 about, the
same, 15 less favorable than last year.
Thirteen report that seven-ejihihs of
South Carolina.—(Charleston Exchange.)—Fifteen report weather the crop has been picked, andthat pic ting will end by Dec mber 1*>; 4 teporr,
more favorable; 10 report about the same as last year, and 47 less favor¬
four-fifths picked, and will end by D.cember 20; 6 report three-fourths
able.
The average yield of the State shows a falling off of 15 pei' cent.
picked, uud will end by December 25; 8 report all picked Tuenty-dx rtpoit
decrease in the yield of from 10 to 15 per c<nt; £ r» port an increase of about 5
deorgla—(Savannah Exchange.)—Weather past month has been less
favorable than last year.
The yield is stt dozen at 5 to 7 per ant less than percent. Twenty state that two-thirds of the crop in marketed, 6 report time....
New Orleans
<
i
a
,
fourths marketed,
last year.
Florida.—(Savannah Exchange.)—The weather has not been as favor¬
able as last year for gathering the crop. Yield is estimated at from 8 to
10 per cent lees than last year.
We average the State at 9 per cent deci'ease.
Alabama.—(Mobile Exchange.)—Weather
during November less favor¬
able than last year. Yield compared with last year is about the same in
12 upland counties, 8 per cent less in l(i upland counties, and 9 per cent
more in 11 ptairie counties.
(Nashville Exchange.)—(No reportthis month.so we repeatlast month's) Nineteen report too much rain and les6 favorable than last year; 9 report
weather favorable and more so than last year. Six report yield 2) to 30
per cent less; 7 r. port about same as last year; 12 report about 25 per
cent increase, and 3 report 50 per cent increase.
We average Alabama, on the basis of above reports, at 5 per cent increase.
JIUsLaslppi.—(New
much more so than
last year.
(Mobile
October.
Orleans
last year.
Exchange.)—The weather unfavorable,
Yield will be about 5 per cent less than
Exchange.)—Weath<r during November less favorable than
Yield compared with lust year’s estimated at 14 per cent less.
(Memphis Exchange.)—32 report greatly less favorable weatner than in
1876; 8 less favorable: 5 the most, unfavorable ever knowu; and 19 bad
rains following hard freezes.
Yield will average 15 por cent less than
last year.
We average
Mississippi, on the bash of above itpor s, at 11 per cent decrea e.
Louiftiana.—(New Ollkans Exchange.)— The character of weather
much ieis lavorable than last year.
Yield c< nip tied wish last year 7 p«.r
cent decrease, without taking c unt of increased acreage.
and 5 report half the crop
marketed.
Charleston Department
the State of South Caivlina, and is prepared and issued by
Charleston Cotton Exchange, through their Committee on Information
Statistics, composed of Jas. S. Murdoch, Chairman, Robert D. Mure,
Lewis, L. J. Walker, J. Adger Smyth.
covers
t.»«c
and
J. W.
South Carolina.—72 replies from 28 counties.
November is reported more favorable than !a-t year by
15, the same as last year by 10, and h ss favorable by 47. From 85 to 9S per
cent, of the crop was reDorted puked in all the counties heard from except3,
which repo t 72 to 78 percent, gathered. The average of the Stite is 87 per
cent.
Picking will be finished generally, with fine weather, about, the 15th to
the 20th. The yield is reported more lhanlai-t year in 3 counties aud less
in 25 counties. The average of the State shows a decrea-e of 15 per cent.
The proportion of the crop ma. keted to December 1 is 63 to 85 per cent. The
average of the State is 70 per cent.
The weather during
Savannah Department.
This report covers Northern, Middle, and Southwestern Georgia (being all of
Geo-gia, except the 28 counties in charge of the Augusta Cotton Exchange)
and the entire State of Florida. The report is prepared and issued by tbe
Savannah Cotton Exchange, through their Committee on Information and Sta¬
tist cs, composed of J. H..Johnston, Claviua Phillips, J. J. Wilder, L. G.
Yokng and k. M Oppenheimer.
Georgia.—81 replies from 55 countiep.
for gat her in _> the
of th- State pick¬
ing will be finished by the 15th i et., and in middle and upper Georgia from
Texas.—(Galveston Exchangs.)—Weather less f vorable than last year.
Thirty-eight counties show a decreased yield of 37 l/t percent; 3 coun¬ the 25th inet to 1st January prox.; from three-fourths to 6even-eighths of the
crop has already been gathered, i.nd of this fivc-eigh;hs to three-quarters l as
ties wime as last year: 5 counties an increase of 20 per cent.
been marketed. A killing frost appeared a month later than Iasi year, but
On the above ice average the yield as compared with last year at 32 per cent
much of the good results to be expected from an unusually late winter bas
decrease.
been overcome by the crop having been dnring the whole season two weeks
Arkansas.—(New Orleans Exchange.)—Weather dnring November lees behind in grow h, and so liitle sunshine upon it. < uring the fall months.
favorable than last yrar. The yield will average 5 to 10 per cent increase.
There is an unusually wir'e rai g^ in the estin ates of the yield of this State.
(Memphis Exchange.)—Weather much less Favorable than November, On sandy lands there haa been almost a failure from, first, draught, then tco
1876. Yield will average % per cent increase on last year.
muchv-a n,followed by rust. On strong, low lands, in home favored sections,
We average Arkansas, on the basis of above reports, at 6 per cent increase.
frnit r.Cs been forming and making cotton up to the killing of the plant by*
late frost. In ether sections the promise of a larg * yield from a t p crop has
Tennessee.—(Memphis Exchange.)—Weather very favorable. Yield 5% been reduced by the rotting of the bolls from the excessive wet w’eatner.
per cent less than last year.
(Nashville Exchange.)—(No report this month, so we repeat last month's).
82 report weather very good and 3 too much rain ; 29 report more favor¬
able weather than last year; 6 report less favorable; 6 report about the
same yield as last year ; 9 probably 50 to 75 per cent increase; 16 prob¬
ably 2.5 to 80 per cent better; 3 probably 10 per cent better. One reports
20 p. r
cent decrease.
We average Tennessee, on
above reports, at about the tame as last year.
Adopting the above as the intention of theee various reports,
fbe folio wirg result is otx«a ned ;
weather for the past month has been Jess favorable
than the same month last y»ar. In the lower toun ies
The
crop
Taken as a whole, the crop of this State wi 1
than last year, with a much larger percentage
be five to seven
perceDtl«*
of very poor cotton.
Florida.—19 replies from 10
The weather during the month
counties.
of rsevember was 1
s^favorable for gather¬
last year. The crop of this State is near y
fithered,
andto bytlree-fourihs
the
wrusmarketed. The decrease as comparer
ive-eighths
bus been
With the last ciop will he eight to ten per cent. During the early months m
ine sear-on the punt prt roised » fine yield ; this was dissipated by caterpu'ar,
nyhea\yund incessant rains continnmg through the whole picking sea1,011’
ing the crop than the same month
10th ins', it
expected that picking woulc cease.
December
/>*asiu2
acreage
THE CHRONICLE.
15 ,1877. J
ru«t, routing
in thiB State,
of bolls and retarding maturity. But for increase in
the decrease of production would have been quite heavy.
Mobile Department
north »s the summit of the Sand
Mississippi: Wayne, Clarke, Jasper
Tkaderdale, Newton, Kemper, Nesholso, Noxubee, Winston, Lowndes,
Oktibiba Colfax, Monroe. Chicasaw, Itawamba, Lee, Pontotoc, Prentiss,
Alcorn and Tishamingo. The report is prepared and issued by the Mobile
Cotton Exchange, through tbeir Committee on Information and Statistics, composed of T. K. Irwin, chairman, Julius Buttr.er, A. M. Willmarth, J.
C. Bush aud S. llaus.
_era the State of
Alabama as far
Mountains, and the following counties in
Alabama.—39 counties send 82 letters.
during November has been less favorable for gathering the
the corresponding period last year. About three-quarters
of the crop has been picked, and will all be gathered by iho 25th of Decem¬
ber
The yield in 11 prairie or bottom laud counties is estimated at about 9
er'ceut Ulorii than last year ; in 12 uplaLd counties about the s irae, and in 16
upland counties about 8 per cent less. About 50 percent of the crop is re¬
The weather
crop
thm during
marketed.
Mississippi.—54 letters from 20 counties.
potted as having been
The weather is reported as being less favorable than last year during No¬
vember. About 70 per cent of the crop has been picked, aud will all be gath¬
ered by the end of December. The yield, as compared with last year, is
estimated at about 14 per cent less. About 50 porc.nt of the crop is re¬
ported as having been
marketed.
New Orleans Department
that part of the State of Mississipjn not apportioned to the Memphis
and Mobile Cotton Exchanges; the entire State of Lou>siana and the State
of Arkansas, south of the Arkansas Kiver.
The report is prepared and
issued by the New Orleans Cotton Exchange, through their Committee on
Information and Statistics, composed of Harrison Watts, Chairman, L. F.
Berje, E. F. Golsan, William A. Gwyn, Edward Morphy, R. C. Cammack,
and L. Lacombe.
answers
from twenty-eight parishes.
been much less favorable than for the same month last
year. Pickii g has been slow.
Two-thirds of the crop was reported gathered
at the date of our own replies, and it is estimated that picking will be com¬
The weather has
pleted before January 20. The yield is large. The river parishes will be
per cent, to 35 ptr cent, greater than last year, while in other por¬
&
decrease of ironi 10 to 31 per ceut. is reported, we esti¬
decrease for the State at 7 per cent. About 26 per cent, of the crop
tions of the !*tate a
mate the
has been
marketed.
All our correspondents complain of too much rain.
Mississippi.—Fifty
answers
from 26 counties.
The weather is reported as much
last year. Picking has been retarded.
has
less favorable than for the
same
month
Not more than two-thirds of the crop
beengathered, and it is estimated that picking will not be completed In fore
the 15th of Janua-y. The yield in the Mississippi and the Yazoo river coun¬
ties will be 10 to 20 per ceut greater than last year, while iu other portions of
the State a corresponding decreuse is reported. We estimate the average for
the State at 5 per cent decrease. Our correspondents report that about 40
per cent of the crop haa been marketed.
Arkansas.—Thirty-six
answers
from 21 counties.
Galveston Department
the State
of Texas, and was prepared and issued by the Galveston Cotton
Exchange, through their Committee on Information and Statistics, composed
of John Focke, Chairman, J. M. King, H. I. Anderson, Charles Yidor and
fl. Dreier.
Texas.—86 replies were received from 46 counties, of the average
date of December 2.
The replies show that the weather haa been les* favorable during the month
of November than the same time last year. Twenty-three counties report the
cotton all picked; 7 report seven-eighihs picked; 16 report three fourths
picked, and that will be
thered by December 15. *1 he increase reported in
of 20 per cent. The decrease in 88 counties will
average 37)4 per cent. Three counties report the same as la-t year. Nine
counties report 50 per cent, and 37 report 6per Cint of the crop marketed.
Ixceesive rains during the month of November interfered with the picking,
and, in consequence, the cotton in the fields could not be saved.
g
5 connties will be an average
the State of Tennessee,
west of
the
Tennessee River, and the fol¬
lowing counties in Mississippi: Coahoma, Panola, Lafayette, Marshall,
DeSoto, 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 Statistics, composed
of Sam. M. Gates, Chairman ; J. T. Fargason, Benj. Babb, Chas. G. Fisher,
J. M. Fowlkes* David P. Hadden, A. G. Harris.
West Tennessee.—50 responses.
WeaUur—27 report the weather for month of November greatly less favor¬
able than same month 1876; 8 less favorable—all ou a count of frequent
rains; 2!) mention the < isastrous effects of rains following the naid freezes;
3 report the worst weather ever known for
saving crops. Picking—The crop
is estimated to be from 33 to 90
per co t gathered, averaging 67 per ceut; 9
estimate completion from 10th to 25th December, 20 from 1st to i5th January,
b by
February 1st; averuge date, January 5 h.
Yield—10 estimate better
yield than 1876 by 6 to 25 per cenr, 8 about same, 17 from 5 to 25 p ;r cent less,
averaging 5% per cent less; this is a decrease of 8 per cent less than October
report. Marketed—It is estimated that from 33 to 85 p. r cent of the crop has
been mark-, ted, averaging
5i per ceat. Misce /a/wows—Sc-; “Aggregate.” Luborer8~29 report laborers working well, G only moderate y Well; much discour¬
agement exists, attributable to two years’ t-ho*-t crops ; 7 report much Mittcrtagfor fool and clothing; much disposition exiatd to emigrate to bottom
lands by the negroes.
North
Mississippi.—40
responses.
favorable than November, 1876; 8 less favor
report greatly less
rHi
11 on account of frequent rains ; 19 particu arly mention bad effects of
following the hard freezes; 5 designate as the most m favorable ever
*°r
saving the crop. Picking—The crop is estimated to be from
all0 per ceut Picked» averaging 65 per cent; 8 estimate completion 15ih to
rains
j”T
1JTR
e
December, 23 from 1st to 15th January, 9 by February 1st; averaging
/ 9th- Yield—5 estimate 5 to 25 per cent greater yield than lust year,
^i-a2le’reduce8
29 from 5 to 50 per cent less; averaging 15 per cent less thau
estimate 16
per c nt
since our report for Oct' b r.
Mar-
crol\isepiimhteda8 being lrom7ti*73 percent marketed,averag.ng
wm^i„Cent'i Miscellaneous—tee “aggregate.” Laborers—14 report laborers
coiimb’ 22 moderately, 4 not working well; 23 report th m much disrenon Ctl ail? becoming indifferent, attributable to successive bad crops; 3
fnfferinK lor food aud clothing; some mention U made of
^position to e
43
nor
migrate.
tion that there is much talk of
emigrating.
North Alabama.—9 responses.
Weather—All report weather much more unfavorable than November last
year, owing to frequent rains following killing frosts.
P.eking-Is reported
50 to 75 per cent completed ; average, 62 per cent; 2 report will complete in
December, 6 in January, 1 February 1st; average date, January 9ih. Yield—
3 report greater yield by 5 to 50 per ceut, 6 less yield from 10 to 20 per Cent;
average, one-half per cent less ; this is a reduction < f October estimate of onehaif per cent. Laborers—2 report laborers working well, 6 moderately well, 1
not workibg well; 7 report them much discouraged and indifferent xo labor;
1 reports much destitution.
15876.
aggregate—107
Responses.
Weather—91 report the weather for November greatly less favorable than
during November, 1816; 16 less favorable—all on account of frequency of
rains; 75 make special mention of disastrous effects of rains immediately
following hard freezes; 14 designate the weather as being the worst ever
known for paving cotton crops.
2. Cotton Picking—It is variously estimated that from 33 to 90 per cent of
the crop has been gathered, averaging 63 per -cent; 19 estimate thit picking
will be completed in December, 62 in January, 24 by February 1st, and 2 by
March 1st; average date, January 10th.
3. Yield—28 estimate greater yield than 1876, 20 Lbout same, 59 less—aver
aging 7# per cent less than 1876. This is a reduction from October estimate
of about 8# per cent.
4. Proportion of Crop Marketed—The proportion of the cot on crop mar¬
keted is variously estimated from 33 to 85 per cent, tho average of estimate
being that 46 per cent h id been marketed by the 1st of December.
5. Miscellaneous—The complaiut of
extraordinary unfavorable weather
during November is without an exception, aud, in so far as your committee is
advised, without precedent. The condition cf the crop at the advent of kill¬
ing frost (it is now fnUy established) was more than thirty days behind aver¬
Very much, though seemingly grown, was in so
age seatons in maturity.
sappy a condition when frozen, and continuous rains following, that there
w*s hot vitality sufficient to open the pod.
VVe doubt if ever so much cotton
hafl rotted iu ihis department. Throughout our entire correspondence there
is evidence of growing instability among laborers ; this is largely attributable
to a succession of short crops, engendering discouragement, especially with
share croppers, the great majority of whom consume their interest in the crop
before harvest time; very many abandoning their cr^p to wrork for wages,
and many to forage upon the couutry.
6. Laborers—63 report laborers working well, 39 only moderately we’l, 5 not
working well.
past two weeks there lias been a
great falling off in the arrivals at Norfolk as compared with the
corresponding period in 1876. This has been caused by the fact
that the railroad bridges were down at Lynchburg and Weldon,
having been destroyed by the late flood. Mr. James Barron
Hope, the editor of the Norfolk Landmark, informs us that the
bridges on the Atlantic Mississippi & Ohio Railroad have been
restored, and that on the Seaboard & Roanoke will be up in a
few days, when the full movement will begin again.
Shipments.—According to oar cable despatch received
to-day, there have been
bales shipped from Bombay to Great
Britain the past week, and 3,000 bales to the Continent; while
the receipts at Bombay during this week have been 12,000 hales.
The movement since the 1st of January is as follows. These are
the figures of W. Nicol & Co., of Bombay, and are brought
down to Thursday, Dec. 13•
Bombay
Shipm'ts this week—,
Great
ConBritain, tinent.
1877
Memphis Department
covers
1876, owing to frequent rains; 27 make special mention of disastrous effects
the Lard freezes; 6 designate as the wo’st weather ever
saving crop. Picking—The crop is estimated to be from 33 to 75
per cent gathered, averaging 57 per cent; 2 estimate completion by December
25th, 19 from 1st to 25th January, 9 by February 1st, 2 March 1st; average
date, January 18th. Yield—13 estimate 5 to 33 per cent g eater yield than
1876, 6 about same, 13 from 6 to 83 per cent less ; averaging one-half per cent
greater than 1876; this is a reduction of 5J{ per cent from estimate for Octo¬
ber. Marketed—It is estimated that from 15 to 70 per cent of the crop has
been mark'ted, a craging 43 per cent.
Miscellaneous—See “Aggregate.”
Laborers— 20 report laborers working well, 11 ouly m derately, and 1 not
working well ; 11 report much discouragement owing to t-hort crops ; 1 men¬
of rains following
known for
Norfolk Receipts.—The
The weath-r has been lesstavorable th in for the same period last year. Twothirds of the crop has be^n picked, and picking w 11 be finished by the 15th
to the 20th of January.
Nine ©f our correspondents report the yield the same
as last year; 14 repori an increase of from 10 to 80 per cent., and 11 report a
decrease of from 10 to 25 per cent. The indications are that the crop w ill
average 5 to 10 per cent, greater than last year. Thirty-seven per cent, of the
-crop has been mark- ted up to date of our rep ies.
The estimates from all the
States are bai?ed upon the tame acreage as last year.
We have not included
the increased acreage in our estimates.
covers
Arkansas.—82 responses.
Weather— All report weather greatly less favorable than for November,
1.
covers
Louisiana.—50
597
2,000
4,tOO
3.003
Total.
3,000
2.0K)
4,000
7.000
11,000
Shipment* since Jan. 1.—%
ConBritain, tinent.
Great
434 C00
Total.
816,030
403,000
93<,0G0
792,000 451,000
1,246,0-30
382,000
531,000
,—Receipts.—*
This
week.
*
2,000
eince
Jan. 1.
1.083,000
9,000
1,095,000
7,000 1,288,00#
foregoing it would appear that, compared with last
there has been a dewease of 1,000 bales in the week's ship¬
ments from Bombay to Europe, and that the total movement
since January 1 shows a decrease in shipments of 168,000 bales,
compared witn the corresponding period of 1876.
From the
year,
Bags, Bagging, Etc.—Bagging has been more in¬
quired for since our last, and following the reported sale of 7,000
bales to speculators there were further sales of parcels to the
extent of 1,600 rolls in Boston and 3,500 rolls here.
The price
was not made public, but it is generally reported to be about 10c.
ca^h.
Since these transactions there is a firmer feeling to be
noted, and holders are quoting standard grades at 10^@10|c.
Butts have remained in about the same position as last reported,
though holders are a shade firmer as to price. There have been
sales during the week of 800 bales in Boston at 2Jc. time, and
about 600 bales here at 2|c. cash.
The market closes quite
steady at 2£@2|c. Calcutta advices report a continued firinnesa
and the costls still ruling high.
The Exports of Cotton from New York, this week, show &
decrease, as compared with last week, the total reaching 9,243
bales, against 9,664 bales last week. Below we give our usual
table showing the 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, 1877; and in the last column the total
for*the same period of the previous year:
Gunny
THE CHRONICLE
598
New York since 9oDt.li
Export* of Cotton(bales) from
perioa
prev’ue1
Total
Nov.
21.
Liverpool
to
-
passengers.
Mississippi (Br.), at Liverpool. Nov. 23d. from New Orleans,
docked, having sustained damage through collision,
Nov.
28.
Dec.
5.
Dec.
12.
date.
13,603
7,252
7,863
101,969
1,535
136,310
7,113
13,663
7,252
7,868
103,554
143,453
£63
2,!41
4,968
Other British Ports
Berlin, str. (Br.), Kennedy, which sailed from New York Nov 84th
in the stern pipe on the 39th, when within'
She was fallen in with on Dec. 6th bv
steamship 1 ity of New York, and by her taken in tow on the 9th and
passed Roches Point at 3 P.M. of the 10th, where she landed mails and
of
for Liverpool, broke her shaft
two days sail of Queenstown.
Same
WEEK ENDING
EXPORTED TO
City
187?
[VOE. XXV.
year.
Utt
before
reported
had stanchions
She also sustained slight dam'
in a heavy gale off the bar took
shifted when at anchor in tha
boats, &c., damaged on starboard side.
in docking. She reports on the 22d
a stroog list to port,
her cargo having
age
river.
.
Total to Gt.
9,196
Britain
Havre
Other French ports
252
Total French
252
.
115
1,212
3,866
Bremen and Hanover
563
2,256
4,968
1,112
707
8,873
7,159
1,760
1,300
ioo
2,016
8,203
1,450
742
Hamburg
Other ports
Bpain.Oporto&Gibraltar&c
*
Cotton freights the past
-Liverpool.
Spain, dec
....
Saturday.
Monday..
Tuesday.
Wed'day.
158,990
121,902
beoe’ts prom
^PHILADELP’lA
BOSTON.
NEW YORK.
BALTIMORE.
1
!
This
Since
week.
Sept. 1.
This
week.
Since
This
week. Sept.l.
This Since
week. Sept.l
Since
Sept.l.
1
66,318
28,016
66,731
3,527
1,961
10,170
•
5,475
Virginia
3,242
3,272
North’rn Ports
Tennessee, &c
4,749
Foreign..
355,317j
33,553
;
.
....
•
•
•
«...
•
•
•
175
....
•
•
•
24,852
2 >,835
22,37o
3,649
4,613
•
•
•
•
•
•
•
«
•
•
.
•
•
.
21,023
...
.
....
.
•
545
7.023
660
7,366
19, V. 63
1,823
....
....
6,385
•
•
.
.
.
.
....
•
....
....
....
476,8311 12.370 101,074
35,396
•
....
91,641
11,304
•
1,166
....
....
1,067
10,766
....
•
...
•
"
....
•
1.200
2,-24
....
...
Total last year.
....
•
8is
14,401
1,842
.
81,839;
6,356 1
26,850
894
Total this year
....
•
...
....
::::
595
55.519
22,r 49
261
Florida
8’th Carolina
N’th Carolina.
...
1,984
17,151
4,095 55,375
2,375
21.9^8
59,501
5,334
News.—The exports of cotton from the United
States the past week, as per latest mail returns, have reached
84,976 bales. So far as the Southern ports are concerned, these
are the same exports reported by telegraph, and published in
Shipping
Friday. With regard to New York, we
of all vessels cleared up to Wednesday
The Chronicle last
include Uie manifests
night of this week.
New York—To
9-32®#
9-32®#
.
—Bremen.—, r-Hambarg-,
—Havre.—*
Steam.
Sail,
Steam.
&®Y
h®X
*£®#
%®#
cp.
cp.
cp.
cp.
cp.
Sail.
#®Y
#®# cp. 3*®%
X
X
X
X
X
X
Steam.
c.
c.
c.
c.
Sail.
c.
c.
XQX cp.
cp.
cp.
cp.
cp.
cp.
cp
cp.
X &X cp.
x^y% cp.
X®7A cp.
X&’/t cp.
14—4.03 P.M.—By Cable from Liver.
the day were 10,000 bales, of which
for export and speculation. Of to-day's sales
American. The weekly movement is given as
Liverpool, December
POOL.—Estimated sales of
following are the receipts of cotton at New York, Boston,
PhiladelDhiaand Bal timore for the past week, and since Sept. 1, ’77:
Savannah
Mobile
week have been as follows:
,
.
Thur’dy.-. 9-32®#
The
New Orleans..
Texas
9-32®#
9-3.'®#
Friday... 9 32®#
9,213
9,664
15,127
13.804
Grand Total
£00
••
....
....
....
Sail.
d.
(®# cp.
..©# cp.
..&# cp.
..®# cp.
..©# cp.
(®# cp
Steam
d.
*200
All others
Philadelphia Nov. r31 via Queenstown for Liv¬
erpool, collided ♦‘veiling Dec 3d off the Skerries, eastern coast of IrJ
land, with ship Oasis (Br.), Burns, from Liverpool, Dec. 3d, for Hampton
Roads. Damage to steamer, if any, not «tattd.
,
Two Sistef.s, schr, from Mermentown for Galveston, loaded with cotton
lumber and orange-, was wreck d off Galveston Dec. 3d. Three lives
A portion of the cargo was washed ashore and saved.
were lo;t.
10,369
19,092
807
2,412
1,212
4,COS
Total to N. Europe.
Total
Pennsylvania, Harri->, from
Total bales.
China, 1,245,'and
City of Montreal, 2,013
Inland
Spain, 1,404
To Havre, per steamer France, 544 and 24 Sea Island
To Bremen, per eteamer Hermann, 707
17 tea
steamer Otht llo, ICO
.. ..
New Orleans—To Liverpool, per steamers Arratoon Apcar, 2,867....
Scindia, 5,241
Ariel, 1.416 — per ships J. A. Thomson, 4,7t8
..Her Majeity, 4,715
per b<rk Knighton, 3,900
To Gothenburg, per
.
To Cork, per bark Chiistiano, 1.309
To Havre, per ship Matura. 4,271
per
To Dir kirk. France, per bark JoDa, 450
To Bri men, per ship Constantla, 2,932
To Santand r, per bark Swift, 1,300
To San Sebastian, per bark Luz 732
To Genoa, per schooner Mary Lord, li8
bark France, 1,729.
7.863
563
7«.'7
100
22,887
1369
6,000
450
2,952
1,300
732
12S
4,500
800
Mobile—To Liverpool, per ship Belgravia, 4,500
To Amsterdam, per brig C. C. Colson. 800
Charleston— t o Liverpool, per barks Mary A.
Ellen HoU, 1,021 Upland...
were
were
follows:
Nov. 23.
Nov. 30.
77,000
5,000
65.000
44,000
9,0C0
Sates of the week
baleJ.
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
4.0 K)
Nelson, 1,379 Upland
:
2,400
To Havre, per ship Pride of Wales, ->,750 Upland and 100 Sea Island 2,850
To Amsterdam, per bark Laura Maria, 1,656 Upland....
1,656
680
To Barce'ona, per brie; Pubilia. 58'J Upland
Savannah—To Cork or Falmouth for orders, per bark VVm. Wright,
2,625 Upland
2,625
To Havre, p r bark Therese, 3.587 Upland and 85 Sea Island
3,672
To Bremen, per bark Jarl, 763 Uplai d
783
Dec. 7.
Dec 14.
61,000
6,000
36,000
79,000
8,000
46,000
7,000
5,000
5,000
8,000
5,000
4 000'
7.000
38[fl(0
374,000
171,000
361,000
.171,000
312.000
142,000
306,000
143,000
76,000
55,000
30,000
59,000
4i,800
51,000
6,000
186,000
169,000
20,000
41,000
6,000
7,000
193,000
241,000
269,000173,000
221,000
248,000
The following table will show the daily closing prices of cotton for the week r
Spot.
Satur.
Mon.
Toes.
Wednes. Thnrs.
Fn.
Mid. Upl’ds
@6 9-16 ..(®6 9-16 ..(®6 9-16 ..@6 9-16..®6 9-16..@6 9-16
Mid. Orl’ns
®6# • ..@6#
..(®6#
..(®6#
..@6# ..@6#
.
Futures.
These sales are on the
7,000
basis of Uplands, Low
wise stated.
Middling clause, unless other¬
Saturday.
I
Dac.-Jan. delivery, 6 15-32d.
Jan.-Feb. delivery, G 15-32d.
Feb.-Mar. delivery, 6,#d.
Mar.-Apr. deliv’ry, (i
Apr.-May delivery, 6 9-lGd.
I Dec. delivery, 6#d.
Nov.
shipment new crop, sail, 6#d.
new crop,sail, 6#<L
I Nov.-Dee. shipm’t,
17-32d.
Monday.
Feb.-Mar. delivery, 6 7-16d.
Mar.-Apr. delivery, 6 lo-32d.
Dec. deliv’ry, 6 I5*32d.
Dec. delivery, 6#d.
Jan.-Feb. de’ivery, 6 7-16d.
Feb.-Mar. delivery, 6 15 32d.
Mar.-Apr. deli' ery, 6)£d.
Jan.-Keb. delivery, 6 13-32d.
Apr.-May delivery, 6#'d.
Nov. shipment, new crop, sail, 6 7
Apr.-May d-livery, 6 17-32d.
Dec.-Jan. delivery, 6 7-16d.
Liverpool, per steamers Britannic, 1,297 — Nevada,
1,692
1.000 bales
7,200 bales
16d.
Tuesday.
Apr.-May delivery, 6#d.
delivery, 6#d.
delivery, 6 !5-32d.
-Feb.
Jan.
delivery, 6 7-16d.
Feb. Mar. delivery, 6 15-32@7-16d.
Mar. -Apr. delivery, 6#(®15-32d.
Dec.
Jan.-Feb. shipment, new crop,
615-32d.
Dec. -Jan.
Nov. shipment, new crop, saL’, 6 15-32d.
•Jan. -Feb. shipment,new crop,sail,6^d
Dec. Jan. delivery, 6 7-16d.
Dec. deliv’ry, 6 !5-82d.
Dec.-Jan. delivery, 6 l3-32d.
Jan -Feb. delivery, 6 13-32d.
Feb.-Mar. delivery, 6
,
13-32d.
Mar.-Apr. delivery, 6 7-l6d.
Wednesday.
Feb.-Mar. delivery, 6 13-32d.
crop, sail, Nov.-Dee. shipment, new crop,
6 13-32d.
Dec. delivery, 6 7-lfid.
Jan • -Feb. shipm’t, new
6 1 ’-166.
Mar -April shipment, new crop,
6 9 -16d.
Dec delivery, 6 15-3’d.
Dec ■Jan. delivery, 5 13-32d.
Jan. Feb. delivery, 6 13-32d.
sail,
Bail,.
Dec. delivery, 6 7-16(1.
Dec.-Jan. delivery, 6#d.
Jan.-Feb. delivery, 6#d.
Feb -Mar."delivery, 6#d.
sail,
,
Thursday.
Dec. delivery,
6 15-32d.
Dec.-Jan. deliver}', 6#d.
Jan.-Feb. delivery, 6#d.
Feb.-Mar. delivery, 6 13-
2d.
Nov.-Dee. shipment, new crop, i*U,
6 13-32d.
Dec. delivery, 6 7-16d.
Feb.-Mar. de.ivery, 6=^d.
Nov. shipment, new crop.eail, 6 7-16d.
1,326 Mar.-Apr. delivery, 6 7-16<®l3-S2d. Friday.
1,190 i
Nov. shipment, new crop, sail.6 13-32d.
■Wilmington—To Liverpool, per baiks Bertha, 755 — Amal, 852 —
Dec. delivery, 6 7-16d.
Dec.-Jan. shipments, new crop, sail,
Minna. 1,721
3,331 j Dec.-Jan. delivery, 6 !3-32d.
6 13-32J.
Norf'LK—To Liverpool, per steamer Ponce, 2,103 .. per ship Esther
J Jan.-Feb. delivery, 6%d.
Feb.-Mar. shipment, sail, 6#d.
Riy,5.225
7,325; Feb.-Mar. delivery, 6 13-32d.
Dec.-Jan. delivery, 6}gd.
Baltimore—To Liverpool, per steamer Nova Scotian, 955
955 ; Mar.-April delivery. 6 13-32d.
Feb.-Jdar. delivery, (>#d.
BOSTON—To Liverpool, per steamers Pale-tine, 2.571 .. Bulgarian, 2,258 4,629 1 Apr.-May delivery, 6 7-16d.
Philadelphia
To Liverpool, per steamer Lord Clive, 1,013
1.013 j
To Antwerp, per steamer Switzerland, 1U0
100 1
BRE ADSTUFFS.
Total
84,976
Friday, P. M., Dec. 14, 1877.
The particulars of these shipments, arranged in our usual form,
There was a very active demand for low extras of State and
axe as follows:
Bre- AmeterHavre,
flour on Saturday and Monday at hardening prices,
Western
Genoa, Total.
&c. Ronen.
Liverpool. Cork.
9,243
707
568
New York.. 7.8->8
2.032
"iis 35,79 4 large lines having sold at $5 553>$5 65, up to $6 30@f>6 40 for
2,932
6,450
1,359
N.OrleaiiB..,,22.887
5,300 the better grades of shipping extras.
The advance and activi J
800
Mobile
4,500
Texas—To Liverpool, per bark Tarpeian,
To Rouen, per bark Orien‘en, 1,190
1,326
-
-
.
men.
•
....
.
Charleston.
,
2,103
1.326
.
Wilmingt’n 3,331
.
Norfok..., 7,325
.
Baltimore
Boston
.
...
Philadelp’a
•
•
•
2,625
Savannah..
Texas
•
.
.
.
955
4.829
1,013
Total..,.56,434
•
•
•
...
2*8*70
....
1,190
....
....
....
....
....
....
.
.
.
....
3 994
•
.
...
....
....
13,540
•
•
....
1,656
*580
7,436
7,080
00
....
.
•
3,672
....
....
1
,
...
....
.
2,510
....
3,331
7,325
....
....
955
....
....
.
..
1,190
....
4,829
....
....
4,422
Included in the above totals are, from New
Below we give ail news received
1,113
100
,556
2,612
123 34,976
Yoik, 103 bales to Gothenburg.
to date of disasters to veg-
fd'd carrying cotton from United States portp, &c.:
Son m an (Br.). Captain Worthington of the steamer Bohemian, at Liver¬
pool. Nov. 21st, fiom Boston, before repoited as h-tvini? been ashore and
docked, states that the vessel was not damaged, and
least water. The B arrived back at Boston Dec. llth.
had not madefthe
in the low and
medium grades
strengthened the higher
grades
quotable improvement took place. The fall
of Plevna checked the demand, and part of the advance in low
extras was lost.
It was anticipated that an early peace would
follow, and communication reopened with Southern Russia
whence large supplies of wheat were expected.
Receipts of flour
here and at the West have been exceptionally large.
To-day;
the market was depressed, and poor extras sold below
quotations.
.
The wheat market was active and firmer early in the wee ,
with sales of spring at $1 344 for |No. 2 Chicago, $1 36
somewhat, but no
reduced
for
December
Flour,
with white wheat at $1 51 for
The fall of Plevna, as noted
above, caused a falling off'in the demand, and No. 2 Milwaukee
declined to $1
but winter wheats were well supported. The
speculation in futures has been rather tame, from $1 35$ for No.
2 spring, N. Y. grade, seller Jan., on Monday, to $1 32£ yester¬
day. The roads at the West have become very bad, and receipts
Milwaukee and $1 40 for No. 1,
No. 1 and $1 57@l 58 for extra.
bbls.
Previous week
to Dec. 8
time 1876
time 1875
time 1874
Jan. 1
Same
Same
Same
10,3:8,8:3
and sellers being apart.
Indian corn
was
In
lu
In
In
In
In
In
In
buoyaut early in the week, but is latterly
droopiDg and irregular. The receipts of new corn have been
more liberal, and the home trade is to some extent supplied by
it,andtlie export demand for old corn has been materially reduced
in the past few days.
No. 3 mixed has latterly sold at 56£@57^c.,
while No. 2 sold at 64@64£c., in store and afloat, with steamer
mixed at Gl^c. for December and 60£@6lc. for January and Feb¬
ruary ; No. 2 m xed declined to G4£c. for January. To-day, there
was a steadier feeling, but no decided advance.
Rye has been aqtive and firmer at 764@78c. for State ; Western
No. 2 is quoted at 73^74c. afloat.
Barley has been active and firm ; two rowed State sold freely
for export at 73@78c., as to quality, and in the past few days
-several boat loads of No. 1 Canada at $1. Western feeding Bar¬
ley has brought 60c.
Oats have been dull and most of the advance of last week i9
lost. The market to-day was quiet, with No. 2 graded quoted at
33£c. for mixed and 38$c. for white.
Grain.
store at New York
store at Albany.
store at Buffulo
store at Chicago
store
store
store
store
at
at
at
at
Baney,
hush.
hurh.
of
Milwaukee
Duluth
Toledo
Detroit
In store at Boston
In store at Toronto
:.
In store at Montreal
In store at Philadelphia
In store at Peoria.
In store at Indianapolis
In store at Kansas City
In store at Baltimore
Rail shipments, week
Lake
week
do
Afloat in N^w York harbor..
Afloat in New York canals.
Wheat,
Corn,
Oats,
bu-h.
bush.
bu.-h.
.
3 0j0
14.100
651,193
651,. 80
996.437
296.033
.
.
.
.
.
.
.
.
.•
.
.
.
25,177
4 0/00
195,362
950,o01
.
9 3.2 i 7
373.363
35,000
4",269
5
58.960
434.0. 0
117,742
16,285
•
88.000
•
•
•
•
•
145,000
•
•
•
50,t 00
105,027
184,266
7,933
11,0.2
•
•
•
1,143
27,03
57,832
90.529
448,693
330,082
11,250
17,740
4,716
1,413
137,766
20,556
416,927
598,703
.14,412,‘235
.10,396,443
140,000
•
•
•
•
•
•
•
i
•
i:
5,869
48
41,316
1,350
•
•
•
•
•
•
•
•
•
•
•
4 15
ttbbl. *3 00®
Superfine State & West¬
ern
-Sxtra State, &c
4 55®
5 45®
Wheal
Western Spring
extras
do XX and XXX
..
do winter X and XX..
do Minnesota patents..
City shipping extras.. ..
City trade and family
5 40® 5 TO
7 25
6 00
5 50® 7 95
6 50.® 8 75
5 40® 6 25
brands
Southern bakers’and fa¬
6 503
25
mily orands
Son them shi pp’g extras..
Rye flour, superfine
Oornmeal— Western, Ac.
6 253
5 653
7 50
6 15
Wheat—No.3 spring,bush $1 273
No. 2 spring
1 323
No. 1 spring
1 36 3
Red Winter
1 382*
Amber do
1 42 rl
1 453
White
573
Corn-West’n mixed.
Yellow Western, old
64®
58®
Southern, yellow', new..
72®
Rye
37.3
Oats—Mixed
White
38®
83®
Barley—Canada West...
..
43,315
.
I
603,072
-,933
4,704.757
70
3.588.913
5,262,00.)
4, 84,"35
3 80',627
3,*43.384
2,952,173
4,39,,701
515,698
',044
...
l:
992,391
i
(53.444
i
75®
80®
65®
1 00®
85®
State, 2-rowed
State, 4-rowed
Barley Malt—State
3 753 4 25
.
...
2 *53 3 00
Canadian
Corn meal—Br’wine. &c. 3 2J® 3 25 | Peas—Canada.bond&free
The movement in bre&dstufts at this market has been as
lows:
-EXPORTS PROM NEW YORK.
BKOKIPTB XT NKW YORK.
,
1877.—
Same
Por the
Since ’
time
week.
.Tan. 1.
1876.
Plour, bbls. 116,552 3,3:0,648 3,868,153
C. meal, “
4.6U
223,786
179.025
Wheat, bus. 278.848 23,369.495 26,227.822
304,717 33,538.312 2o,407 8K9
Corn, “
1877.
,
Por the
Since
week.
Jan. 1.
#
14, 1877.
first hands.
continued
The main
..
feature
of the week’s business
was a
peremptory auction sale of nearly 6,000 cases of Lonsdale, Blackand Hope bleached cottons.
The sale was very largely
s‘one
offering, amounting to nearly $800 000,
disposed of in one hour, at prices which were fairly satisfac¬
tory to the owners. The jobbing trade was generally inactive,
and the suspension of Messrs. Adriance, Robbins & Co., and Mr.
fol- James Leahy was announced in course of the week.
The liabili¬
ties of these houses are comparatively light, and the failure of
the former firm was not altogether unexpected by the best-posted
attended and the entire
was
>
1876.
Por the
Since
week.
Jan. 1.
merchants.
Domestic Cotton Goods.—The exports
of cotton goods from
port for the week ending December 11 reached 2,623
including 1,756 packages to Africa, 270 to Great
packages,
43,211 1,994.387 72,762 1,281.9-9
.3,650 1,911,807 1,543,843
"
Rye,
25
*.279
87,8*3
Britain,
190
to Mexico, 133 to Brazil, 40 to British Weat
1,936,845
223,994 8..347,861 6,639 289
Barley. “
Oats ...”
619,118
1,762
174,391 11.902,930 1!,439,469
1,559
241,470
Indies, 40 to Argentine Republic, 33 to Cisplatlne Republic^
The following tables show the Gram in sight and the move.
31 to Hayti, &c.
The auction sale alluded to above had
m-mt of Breadstuffs to the latest mail dateB:
a
EBCBTPTS \T LAKE AND RIVER PORTS POR THE WEEK ENDING
depressing effect upon bleached cottons, in which transac.
DEC. 8, 1877, PROM JAN. 1 TO DECEMBER 8, AND FROM
tions were meagre and unimportant, but brown sheetings were
AUG. 1 TO DEC. 8.
in fair demand and firm with an advance of about £c. on such,
Rye.
Corn,
Barley,
Oats,
Wheat,
Flour,
bush.
bush.
bush.
bush.
bbis.
bush.
makes as Nashua R, Ocean B B, Appleton XX, Mystic River
At(56 lbs.) (32 lbs.) (48 lbs.) 1(56 lbs).
(196 lbs.) (60 lbs.)
Cotton flannels were in steady request and firm, and
68.606
15.786
&c.
155,633
47,459
271.682
410,710
Chlcago...—
7.405
56 0i3
221,913
88,94U
6,39. denims were
15,250
distributed in fair quantities to jobbers and con¬
159
Toledo.
10,963
175,023
127,128
1,175
7,323
8,353
7,366
9,449
89,*05
verters.
Tickings, dyed ducks and cqrset jeans were in light
800
9. 00
3,550
*2,150
9,- 00
18.710
and
demand,
cheviots and cottonades moved slowly. Cotton
16,377
11,SCO
153,518
28,752
128,511
6,400
19,350
77,000
31,600
7,200
4,920
waipsand yarns continued fairly active and in light supply.
Duluth
Print cloths remained steady at 4c., less one per cent, cash,
Total
144.993
40,535
119,761
840,133
240,761
855,564
for
ex ra 64x64 spots, and 4c.,
334.848
30-days, for futures to April.
Previous week
52,132
133.268 1,3i6.0i4 1,112,895
285,450
8 (.611
682.M-9 1,184,410
848,209
169,832
CorreVug week,*76 118,608
Ginghams
and
cotton
dress
goods
were less freely taken, and
31,92
78i!,991
177,369
267,7*6
’75. 133,759 1,940,471
Tot. Jan.l to Dec. 8. 4,7 >8,677 59,2.8,4.3 75,510.1.6 22,613 833 8.63 >,‘57 4,85 ,450
on
some
price concessions were offered
makes of the latter.
Same
53,043
1.363,503
1,822,926
43,205
4,160
3,372
167, liO
2*7,876
474,822 19,599,404 417,818 23,596,895
987,465 25.v25.2H 291,576 16, 06/41
.
.
this
.
.
.
....
•
•
•
m
time 1876
5,2'iO, 57
Same time 1875.
.4,6i4.S‘i5
Same time l-*74.
5.731504
T -t.Au«. . m Dec. 8 .2.494,855
53,621,593 ‘6 492,128 24,074,7*0 8,4>!4,530
66,570,8.1 46.626,*05 24,4'rS 153 5 603,316
74.996,900 54,66s,637 25.61 ,,174 5,92 ,6.2
39.9.6 845 32.604 609 11.793.3)9 5,735,071
.2,524,239 27,182.255 34,537,789 0 2.8.0 2 5,465,341
.2.0et),7I4 36.161,053 13.238,.385 1:4 826,783 4.048,061
.2,194,684 32,03i,617 17,278,121 11,035,0.4 3,706,489
...
...
Rime time 1376.
Same time 1875
Same time 1874
...
2,592,696
2 723 i>35
1.475.660
1,898 543
1,5 5.2s0
1,156.720
596,513
Domkstic Woolen Goods.—There was an uneven movement
in men’s-wear
the
for
woolens, and transactions
were
only moderate in
Heavy cassimeres were in fair demand
aggregate amount.
the season, and overcoatings were taken in small parcels by
jobbers. The clothing trade placed some further orders for
spring cassimeres, worsted coatings, meltons, cheviots, and cloth¬
RIVER PORTS FROM JAN. 1 TO DEC. 8:
ing flannels, but there was less spirit in the demand than was
Flour,
Wh at,
Barley,
Rye
Corn
Oats,
Cloakings were less active, and
bush.
bush.
bbls.
bush.
bush.
bush. expected by sanguine holders.
Tot. Jan.l to Dec. 8..4,315,927 42.869,815 66,431,125 17,601,7 6 5,40s?76 2,354,877
repellents
quiet.
jeans met with moderate sales,
ruled
Kentucky
Same time ls76
4,hfe5 618 47,965.827 73,127,629 19,b«-,0J6 3,732.393 2,3 3,826
Same time 1875
were
and
satinets
disposed
in
fair
of
quantities to clothiers and
5,257,221 57,277,115 42,234,664 l8,9il,-382 2,629 262
9( 0,354
Bametime 1874
5.542,821 59,345,911 43,729,261 16,413,5j7 2,92 ,336 *,9b0,902
jobbers. Flannels were in steady demand for small re-assort¬
RBCKIPI’H OK KLWUK A.N li GRAIN AT SKAHOA.KD FORTH -oh |’tt fc
ments, but the weather was not cold enough for the distribution
WEEK ENDED DEC. 8, 1877, AND FROM JAN. 1 TO DEC. 8.
of
blankets and transactions were consequently light. Worsted
W neu%
baney,
Rye,
Oats,
Flour,
Com,
2 t
bush.
hush.
bush.
bush.
bmh.
bbls.
dress goods moved slowly, and shawls and skirts remained quiet.303.384
390 590
4 23.838
400,226
10,241
127,661
43. m
23,217
107,472
5i',700
44,630
Foreign Dry Goods—There was a very light demand for
Portland.
2 500
3,500
1,000
81,2*0
K mtreal.
515
imported goods at first hands, and jobber’s sales were mostly re¬
3,6(0
14,611
13,$36
8,702
255.200
12 nOO
29.7 00
2y,500
?*,1'H)
st) icted to specialties required by retailers for the holiday trade.
176.000
1,0CC
467,(’00
10,000
55 608
32 546
298,5^9
23,09d
The auction tales were of comparatively little importance, and
*
Estimated.
^aiPMEN'lB
OP
FLOUR
AND
GRAIN
FROM WESTERN
LAKE
AND
_
-
.
....
.
•
•
•
....
.
•
.
Total •••••••
.
2 i 1,(02
873,212
1,522,291
507,997
•
•
•
364,701
....
14,961
low
prices were realized for many of the
goods sold.
|
*
751.928
sluggish demand for domestic goods
during the past week, and imported fabrics were very quiet in
a
j
535
3,573,'67
3,982,207
i
10,753
4,054,379
Friday. P. M.. Dec
was
.
j
....
122,195
17,0(0
1,225,913
THE DRY GOODS TRADE.
There
j
.
FLOUR.
So. 2
>.
44,074
8,828
5,410
•
....
3 57
|
503
20,0l)0
150,435
•
'
■•••••
23.240
13,066
85,993
•
1.3,895
575,000
3 ,113
34,915
51 937
15.967
S00,(*0
>5,461
285,876
6,«06
.12.313.752
17, 1877
:e, 1877
9, 1876
864,787
8,941
5,424.171
6,751,191
7,533.483
7,920,243
8,2.0,919
6,650,314
;
1,979.1)52
107,000
116,434
190,919
550,486
Rye,
bush.
S09 077
bush.
392,716
100.003
1,609
1,212.704
S3,000
.
Barley,
124,359
212.167
..11,563,573
1877
929,259
3,510.231
319 022
143.873
173.961
297,270
133.853
.
1,723 229
1,059.843
Total
1, 1877
1,018,702 169,806
262,148 113,713
9,052,254 2,558,323
7,557,205 1.658,100
4,853,726 484.437
urain, comprising the stocks
2,844,982
.
[n store at Oswego
In store at St. Louis
Dec.
Nov.
Nov.
Nov.
Dec.
1,659,403
Rye
bifrb.
in
principal points of accumulation at lake and
and in transit on the Lakes, the New York canals
Supply
than last year.
ers
Oats,
bush.
924, cl l
9,480,849
9,420,155
granary at the
seaboard ports,
Corn,
bush.
2,069.299
7,S90,165
Fhb Visible
Wheat,
562,825
302,896
1,189.452
43,785,054 82,173,718 19.955,394
41 3e2>35 83, -75,125 23,753.P H
53,3n8.831 53,619,733 19,8'6,622
61,131,4*6 50,032.820 19.705.b5
239.900
239.989
Cor. week’76
markets have fallen off, being for last week, smaller
To-day, there was a quiet, unsettledlnarket, buy¬
Western
599
THE CHRONICLE
15, 1877]
TELE CHRONICLE.
GOO
mporiattous of Dry Goods.
I
The importations of dry goods at this port ior the
Dec. 13, 1877, and for the corresponding weeks
1875, have been
as
week ending
of 1876 and
follows:
ENTERED FOB CONSUMPTION POB THH
•1875
%
Value.
Pkea
Manufactures of wool.... 328
J 137,i 93
do
cotton.. 722
203,512
do
silk
240
178.326
10 052
478
do
flax
Miscellaneous dry goods. 357
88,675
.
,
.
.
,
.
2,125
Total..
$692,963
WEEK ENDING
$100,210
149,904
190,464
70,982
66,727
|
812
80,330
2,029
$457,054
„
$599,287
2,035
Exports of Leading Articles from New York.
The following table, compiled irom Custom House
return^
shows the exports of leading articles from the port of New York
to all the principal foreign countries, since Jan. 1,
1877, the
totals for the last week, and also the totals since Jan.
1, 1S77
and 1876.
The last two lines show total values, including the
I
_x,
! J--
ll
'
*!
*
■’
-1877
Pkjrs. Value.
216
578,700
404
115,416
176
99,414
421
85J34
.
269
554
*33
334
645
13, 1877.
DEC.
1876
Value.
PkgP
[Voi* xxv.
WITHDRAWN PBOM WAREHOUSE AND THROWN INTO THI MARKET DURING THE
SAME PERIOD.
Manufactures of wool....
cotton..
197
87
silk
flax
31
220
.
do
do
do
Miscellaneous dry goods.
$69,876
*5,415
22,583
51.0*7
15,077
215
.
$194,018
692,963
750
Total
Addent’dforeoneumpt'n 2,125
196
329
62
141
409
161
83
S8
221
i 83,653
241
15,849
747
$188,850
2,029
457,054
$74,163
101.275
72,1*0
38,691
16,329
1,137
$302,581
538,287
2,0-35
IS04(H3!9!iOOac'9
•
21,473
28.582
od V i&cos'. ,-T»
©
*->
oTSfro
p
4!,523
I--T JO
V
N
^
$887,011
$930,868
S,173
2,776
p-vrrf
f 3*3*233
o
©**,
Cjft
|OKN r~! iS -V| —.cnco cp
’•ooi
<»
^
Total thrown upon m’k’t. 2,875
tq
f*
c0<~
•
op t*
05
13
cf
od
a-T
\i
••w
co
CO
$625,931
ENTERED POBL WAREHOUSING DURING SAME PERIOD.
Manufactures of wool....
do
do
do
cotton;..
silk
.
flax
Miscellaneous dry
186
$59,472
120
60
SS6
62.217
62,562
goods.
80,020
6,327
26
213
230
$101,3t0
98,3'»4
49
2,600
32,222
318.2 >6
497
28,798
$104,872
217
115
67,850
47,562
56,486
56
260
997
43,402
»o o
ado
QQ «p>
CO
■« « » -> >•*
'o<or>iHCCM
to
Ol.^f
•
—
i
». o
Addent'dforconsumpt'n 2,125
1,645
$820,172
3,619
2,029
598.287
2,035
m O
$377,018
:
52
457,051
$963,561
8,680
5,643
$918,459
co
»«•
>03
Tt>
CB
Since
Same
••a
O
s
5gSS5
:
.5
Cutlery
Earthenware—
85.795
7,621
b,41«
76,89*
22,403
Bark. Peruvian..
Blea. powders...
Cochineal
Cream Tartar...
Gambler
Gum, Arabic....
•«••••••«•
Oil. Olive
1S.935
26.759
4,369
60,430
5.482
4,727
1,314
39,ft79
1,638
Opium
Soda, bi-carb....
8oda,sal
8odaash
Plax
23,587
61,316
62,684
4,8t0
6,377
4.825J
Furs.
Gunny cloth
Hair
2,838
142,673
Hemp, bales
Hides, Ac—
1.752
Bristles
Hides, dressed..
India rubber
6,039
56,414
788
Tvory
Jewelry, Ac.—
Jewelry
Watches
Linseed
84.162
Hardwaie
Lead, pigs
257,038
Spelter, Tbs
Steel
34,228
8,505
Tin, boxes
Tin’slabs.lbs..
4,951
54,019 Paper Stock
22.452
Sugar, hhds, tcs. A
4,958 Sugar, bxs A bags.
4,949
Drags, Ac—
Indigo
16,909
1,706,593 1,812,661
Botton, bales
Tea
Zl
t
«(
9-1
c-
to
CO
4
— ■r-l
-w
0O*>
„
.
O to '.o *o
•
•
■
©
enJii-4
•
•
.©Si0X3
• T»< of T*
CO
«C
—1
•
*-
*0
*“*
28,453 Tobacco
Waste
M
:8
OZl
!
c§
—
CC CO
W
»-*
...
•COCM’-l
875,964
45,601
995,973
51,178
831,441
73.6211
565
90,293
ICO,59 *
urxioi?
.
-e o o —
<
^
O'
<?>
w-
CO
-O
CO
93,402
113,153
42,456
45,555
.
—• 9^
.
f- CD
•
•
O —•
.
.CSC*
•CO'G*
•
•
.
—•
»-•
•
•
897,3*9
532,060
1,053,821
479,503
121,161
1’.6.186
Cassia..
Ginger
Pepper
Saltpetre
Woods—
Cork
Fustic
457,065
191,429
119,374
454.256
412,351
161,935
386,442
t0.198
560,669
44,13<s
Logwood
Mahogany
Q “O «- t-
-*
.
«—
JS«.
*
ccf
t- in
©
Pitch
..bbls.
Ashes
6,457
5,718
pkgs.
Oil cake....
Breadstuffs—
.pkgs.
Floor.,.. ..bbls. 3,3:0,648 3,865,153 Oii, lard... ..bbls.
Wheat
bu?h. 23,368,49.' 26.227,822! Peanats.... ..bags.
Corn
“
33.538.312 26,407,869,' Provisions—
Butter.... pkgs.
Oats
“
11,902,930 It,939,469!
44
Cheese...
1,911,fc07 1,543,843!
“
Rye
44
Cutmeats
8,3 4 7, >.61 6,639,289]
Barley&malt “
it
Grass seed...bags
148,121
181,189' Eggs
H
Pork
Beane
bbls.
81.193
95,90 s’!
it
Beef
Peas
bush.
649,377 1,150,138
a
Lard
Corn meal. .bbls.
179.0251
223,786
Lard
Cotton
720,414
bales.
949,409!
3.015 Rice
6,267
pkgs.
Hemp
,k
44
Hides
No. 3.218,9’9 3,754,7011 Starch
<4
Stearine
112,S86
66,107;
Hops
bales.
..bbls.
sides. 4,233,968 3,687,260, Sugar
Leather
476
405! Sugar
.hhds.
Molasses
hhds.
.pkgs.
Molasses
bbls.
85,331
72,156! Tallow
44
! Tobacco....
Naval Stores—
Crude turp..bbls.
3,436
3,322| Tobacco.,.. .hhds
75,220} Whiskey.... .bbls.
75,521
Spirits turp “
bales.
373.512 Wool
376,911
Rosin
“
Vi nni
IT TO I1
9->
"NTn
T«r
“
.
.
.kegs.*
.
.
4,535
311.019
18,290
86,805
8,3j|
451,960
9,979
2,335,5b* 2,148,201
981,744
462.610
166.699
47,985
403,586
40,813
563,640
522 259
130.991
45,533
786
358,So8
21,047
1,079
13,32:
69,339
62,180
70 733
>'
X) Cl CO
CO
SO
•
CD *5
»*-«
*w
*f 050
JQ ■rr O', cn
st
M
r-T *^T
V •
CO P. 3»Olc«M
to ^
»-«»-•
.
**^oo^ .
tfft
eo O ctj *
=>
►V 73
5k 9
L,
1
.eooo
•
•
#
*-*
•
•
CO
•
—
S
i!
.Oo;Op
to
•
f-Tcd ’
or’©•tJ'fO
S?3
fSJ;
:£?28
.-T
’ -©■'
to so
^3od
*
30
s
tecroo
.
^«»-«
#
•c«co
.m
r-
trf •<o<
©»
•
»
WO
•
c
jo
•
•Ot-oo
-rf
ob
,
•
»ows^*
•
•
ex. ■—1
•»
ft
.
•
I
s-5
So
■
*o»-
C0<N
1
I
1
®
2
(X
00
,
*
•
*
' so'
*
•
:
:«g
*
i
•
«
*2
•
•
.
.CO
CO
*
%
«
a
• ^5 4
#L
•*'1
•
•
•
00
^
*
*
*
VwgJT
,
CO
~
Nt*
'6)0$
33
§
PS
o'
•.-•X
•
-
•O
i|S : J
t s :
.
.
•
>
.
TJ>
>tO
•
OO
«
O) -«>
.
I-
■
•— o
§2
5"
50
a
s#
•9*7
.
S5 ©
*«
o
*
J !
•
3
4 :=?•;•§
I
1
Pi>
0(4
I
I
• -o
59
I
I
5,eo
i§» r :R
:
i
—
ft,
5
-
‘(Cr’rH
CD
th
’SS
® ©M
w4
wV
Q
.
*«
O
'C
«
g &
tge
H
00
«
M
oo
•CH
•r-p*£
-CO f- Q
.
.
•
••
•
Q.
ST
*
•
l§:
o«
.t—•
.SOLO
.jo
•
i11*, j ;
*
•«
^oa
od
•
•
•
•
:
:
*
•
£
:
•
O
.
' co
•• : :• .p.5
: :iI
<S4 O
»
*
.
~1tQ
f~£-
•
CO
^
W-T
<ocd
•
.i?*3o9*
i<
.^-coco
*—
j"-
O^siec
.
oo
.tji©
-t>«00
O® 3 <7 *«QO *./)
CO
c. rr —
cv xoci
t
cfc-'-f
OO
OOff,
net
CJ r.
‘
oo.o >o
t-.ccos
i* rr
os
^jX;
-01
s?
T-<
CO OS
Sgf,
^SfliiSSS -8
1
'5°
1
I
© O
WCJI
3
ft.
•
•
•
.
■
*
-*30
30
O*. Jf. »(0
.O*
O
cc: ^
.
TO
SO^ •
oT •* CO
co CO*
—«3~r
o
r-t
•
*
9°onco
—
*
.
.
* CO O °0 -O'
c*o '-O
«
oo
»Q
•
•
'§$^5-”S
«
C-
I
v
-P.SS5.S.24
si
.coososfcoOJtO
-gsSSSSE
8%
'S' £•' "2
”
oV
1
|
1
222,546
115,501
33.919
=Z
* oT
.n>on
12,818
135,621
84,430
.os
. uc
•
»-•
I
1
I
|
I
a*?
»«d
,go
:S3o.o fas
:ss3
crT
" ^5
*
‘
*
•?* •***■#
o<x»
3?
.
.
99,812
37,241
99,10
;©<?>>-oc©
9?TT TO w
** XT
* 9<eto-
359,4 IS
24,212
355,333
17,815
192,819
97,319
150,197
22S‘,#5,5t'
rT ri
-r ??
^ ^
*Vt
^ # jj7)S
1
60,788 I
1,219,318 1,247,916
OP
«
Jcei.o
360.407
76,323
609,026
37.759
Since
Same
Jan. 1,’77 time 1876
•
♦
6°*
I
receipts of domestic produce since January 1, 1877, and for
the same time in 1876, have been as follows :
Same
1876
•
•
|
The
time
•
•
c#
si
.» oso
os
co
$
$
1,245.010 1,3:6,403
f
f
g*"
N
40,231
•
*
•«
62,725
Lrt -*•
•—
.
•«o
O
fls
I
I
621
87,9*2
123,746
: :a
.
I
..
551,965
oot*
* —T
a
dSS
1
782
57.078 Fruits, Ac.—
Lemons
988.176
994,753
3,676
6,571
1,275,579 1,234.144
Oranges
Nuts
825,001
2,016
717,321
Raisins
3,037
1,440,273 1,582,752
116,321 Hides, undressed.. ll,781,67i 6,901,756
Rice
*94.289
183,320
1,445 Spices. Ac.—
504
•
•
0
3,700
.
....
381,029]
22
O
TT
wiOfH
of
,
x-
548.1631
48,019 Fish
2,635
2? i£ 2£^
•©-*00
<M
•
tevtcc-N
»eg co
eo
© o
525,640
2,807,724 1,995,480
814,067
832,277
61,854
54,718
...
4.983
*
I
• i
Same
8,664
1,208
105,384
917,662
789
4,755 Wines, Ac—
406
Champagne.bkte.
Wines
38.186
4.967 Wool, bales
3,069 Articles reported by
value—
1,496
34,647 Cigars.....
1,094 Corks
30.826 Fancy goods..
40,935
2,210
a©
.mc*•-oto■->a
i
.
Gt
no
Receipts or Domestic Produce.
o.
-
oT ip
•r>
o
•
.....
i
n «
9,993.985 8,003,770
177,091
132,786
27.632
2,623
Since
Jan. 1,’77
.
T
77 b*»
Metals, Ac.—
China, Glass and
plate
Buttons'.
Coal, tons
Oocoa bags
Coffee, hags.
o*
n
•
boo WT*
CO
Glass
■
O
-W —• ©
• © Mi>
• 'X! SO
«-
«n'm‘ui‘
Glassware
r.
Jan. 1,’77 time 1876
Jan. 1,’77 time 1876
801.014*
i »i.
c*
.
$814,072
following table, compiled from Custom House returns,
•hows the foreign imports of leading articles at this port sincfc
January 1, 1877, and for the same period in 1876:
[The quantity is given in packages wnen not otherwise specified.]
Earthenware....
Glass.
-
CO V ‘C f.
CO
The
14,220
39,126
OMctca/.asoi
>c Oi
<w
•
OfsT
Imports of Leading Articles.
Since
ao
£> ip
t-i
OO
Total entered at the port. 3,853
2,853
♦
m h
OO
:
$270,598
692,963
tc c*
iQ«-Tof :r$"
®rr2 © *■-
•
728
Total...
.
.
®
ISie^oSSili
1*^ "T
C
rrt OD
O **-» Sf'w
*60
THE CHRONICLE.
t5, 1877. J
December
GUNNIES.—See report under Cotton.
HAY—
North River shlDr’ns
V 100 3
UENBKAI.
PKIGKS CURKKNT
Apotffir«t0crt
HEMP AND JU1EAmerlcan dressed
American undressed
4X*
v tt*
Croton......
Montevideo,
Corrientes,
Rio Grande,
Pine, shioplOK^ box........... •••*••
do tally boards, com.to 6 df«»ch.
Oak
V M. it.
Ash, goo
•
Black walnut
..
•••
dpruce boards A plank?, tach
3 in. A longer
0 lb
23
12
20
19
®
e
0ft
0
12 X
ioxa
UX
10 00® 11 00
Liverpool honsccannel
ISOOaUOO
Anthracite—The following will Bhew prices at
Ift’t auction, or rates as \ er November schedule:
Auction.
St’mb...
Grate...
Egg?. !
—3 @2 *2
2 22®i
Stove...
—
Ch’nnt..
—
n t
2 25<a>! 80
2 55<y>2 62
2 25®2 40
-
2 50
2 90
2 65
2 95"
2 90
2 90
3 10
2 6(1
ord. car. 60and90 days .gld.0ft
gold. 44
do
do
do fair,
do
do
good,
gold. “
K°ld.
prime, do
Java, mats
Native Ceylon
g?,1^'
gold
gold.
gold,
Mexican
Jamaica
Maracaibo
Laguayra
gold.
gold
gold.
gold.
St. Domingo
Savanllla
Costa Rica
.....gold.
COPPER-
16X®
1«X
18X3
18X
19
19X
®
22 ®
lsX®
..
44
“
“
21
20X
®
24
cur.
**
cur.
Ginseng
“
44
paste,Spanish,solid.. .gold
Madder, Dutch
44
44
Madder,French, E.X.F.F
licorice
Nntgalls.blne Aleppo
cnr.
Oil vltnoH66 Brimstone)
**
Opium,Turkey ....(in bond), gold.
Prusslate potash,yellow. Am..cur.
Quicksilver
gold.
Quinine
cnr.
fihubarb, China,good to pr.... 44
Balsoda, Newcastle..0 1U0 ft, gold
Shell Lac, 2d A 1st English. 0 ft .cur.
0 100 lb. gold
Sodaash
8Y
Sugar of lead, white,prime,Vlbcnr.
Vitriol, bine,common
“
FISH—
Gr’d Bk.A George’s rnew) cod.0 qtl.
30"
«X®
7X
5X
7X0
4
62X3
~
'
pr.bbl. 18 00
Mackerel,No.l,\f. shore
Mackerel, No. 1, Bay..
OIL CAKE—
City, thin oblong,bags, gold, l) ton.
Western, thin oblong (Dom.) cur “
OILS—
Cotton seed, crude
Olive, in casks V gall
1
Whale, crude
Sperm,
Refined!
18 50
13 CO
Citron,
1 3»
192X3
6X0
Prnnes, Turkish (new)
do
£a*cs
French
5 0
....
Figs,layer
...
Canton Ginger.wh &
Sardines
hf.pots.0
Domestic Dried—
Apple-, S.u:harn, sliced
do
do
do
case.
half box
Saraines 0 quarter box
Ma-nronl, Italian
do
!g}
^
Patna, amy
0
a
®
do
.......
7
0
4*
.0
^ ft
ft
ftft
1
....
8
44
44
_
V bush.
gold.
gvld.
f
f
„
&
13 LU
.0
....
rx
•
45
d.
9. d.
....@X comp
9.
2 6
m
....
22 6
0
....
7X®
7X0
....
....
5 6
Mt....
....0
....
3 9
0....
......
....
a*
Commercial Cards.
Brinckerhoff, Turner
Co.,
&
Manufacturers and
Dealers In
COTTONS AILDUCK.
And all kinds of
FELTING DUCK, CAR COVER
TNG, BAGGING, RAVENS DUCK, SAIL TWINES
AC. 44 ONTARIO” SEAMLESS BAGS,
OTTON CANVAl,
•‘AWNING STRIPES.4'
Also, Agents
A
United
States Bunting Company.
full supply
all Widths and Colors always In stock.
No. 109
Duane
.Street.
George A. Clark & Bro.
1311LWARD’S HELIX NEEDLES*
400 BROADWAY, NEW YORK.
agents for
Washington PHtllSj fllslcopce Mfg
Burlington Woolen Co.,
Ellerton New ITS Ills*,
Atlantic Cotton Hills,
AND
llorierr.
and Drawers
From Various
J
Mills.
BOSTON,
15 CnAUNOXY bT.
NEW YORK.
43 A 45 White Street.
6X0
6X0
3X0
Co,,
Victory Hfg Co.,
Saratoga
12X
S‘3.)
PHILADELPHIA.
W. DAYTON. 230 Cukstnut Stbekt.
....0
£5
2 50
-Y
John Dwight 8c Co.3
MAI^UFACTURERS OF
SiPEU-CAUBOMTE
i*40
2
2
2
1
1
2
or
19
40
00
50
52X
07 X
1
E.R.Mudge,Savvy er&Co
0
ft.
rough.
$ 56
Calcntta
Linseed Bombay......V 51 ft
Lin seed,
13X
& 17 10
•
...
V ft.
“
ut
16 00
13 00
,,,
Cabary, Smyrna
Canary, Sicily
Canary, Duich
Hemp, foreigu
Flaxseed, American,
8
19
,,,,
.
ftl
,
Timothy
4 &
7ka
27 0
V»m^lea.°ry mlxed ai d new we’C 13 ®
^♦ttortleberrlea,,,,,,,,,ii S
.
0*
Dald
Clover,Western
Clover, New York State
0 tee.
»hbi
Beet
Pork
d.
X
3
3
0
25 0 (a 35 0
8X4 ...
8X4....
8.
9-32®
G5
1 P6
1 85
65
.A
0
....
V sack.
^
Corn.bTk A bgs. 0 hu.
Wheat, bulk A bags..
d.
«.
....
49
1 2J
61
45
•JO
0 bbl. 13 12X^1 13 3‘X
44
0
Liverpool .various sorts
qanrJers
0
A
&
0
&
0
®
0
ra
i,
7
12X@
„
Heavy goods. .0ton«
gold.
—ST* AM.
....
..0
ii
«.
V bush.
State, sliced,
•
•4
Turk’s Island
St. Martin
SEEDS-
.
.
54
aa
SALT—
a>
new.
quarters, i e v
CO
1 08
13X®
20
reaches, pared, Ga.pri , e & chcice.
dhparei.halve audqra...
Blackberricj, bags and 1 bis. (new).
Baspberrlts
t
10
6 50
•6
44
0
7R gol.
g'U
standard white.
Carolina,fair to prime
Louisiana, lair to prime
Rangoon, In bond
:o 0
MX®
(9
44
65
67
44
RICE—
15wa
new
&
•
Pork.nrime mesp, West..
Bed, family mess
Beef.extra mesp. new...
Beef hams.W. sum. cured
Bacon, City long clear
>Iams.8moked .,
Lard. City steam,
l 75
-
WX
44
PROVISIONS—
Pork, mess,spot
Pork, extra prune
@ 20 00
8X®
49
Naphtha,City, bbls
6 00
....
do
Layer, new
do
do
old
do
Loobc, new
do
Valencia, new
Carr ants, new
Northern
PETROLEUMCrnde, In bulk
7Y
12X
®
44
crude
4X
3of0 0
44
Sperm, bleached winter
Lard oil. Nos. 1 and 2
0 23 00
Mackerel,No.2 Mass.shore (new). l* 5)
12 CO
Mackerel, No.2, Day
F3UIT° ‘
•
Raislis,Seedless.
per EOlb.lrall
....
72*X
®
1 10
62
44
Linseed, casks and bbls
Menhaden, crude Sound
Neatstoot, No. 1 to extra
52
40
50
3»
21
80
19
46
60
45
0
31 00
.0 gftl.
Whale,bleached winter
3
1
1
FREIGHTS—
To Livbbpool:
Cotton
Vft.
Flour ......... 0 bbl.
41)
11
12 X
12
5
OAKUM—Navy,U.S. Navy* best 1Mb.
24
®
®
.3
50 ®
25 <a
18 <3
1 75 3
...0
.¥ l’>.
44
0
Vft
Texas, fine. Eastern.....
Texas, medium. Eastern
Smyrna.unwashed
48*
0
4 0
10*®
21
21
South Am. Merino, unwashed
Cane Good Hope, unwashed
30
Pecan;
iX
51
24
23 X
23
28
32
31
fcl
1
2 50
2 05
4 0d
5 00
Fllnerts, Ricilv
Walnuts, Naples
2')
1.Y3
62X3
6 40
4 50
7
£
81X0
Spirits turpentine....
? gal.
Rosin, strained to good strd.V bbl. 1 70
low No. 1 to good No. 1
44
44
1*60
low No. 2 to good No. 1
44
2 75
low pale to extra paie.. 44
4 50
window glass
44
Brazil
28
23
®
0
....
0
0
0
0
1 15
Burry
2 25
Almonds, Jordan shelled
1 25
19
bright work
0
18X0
Fair..,
Inlerior
2 37X4
2 12X0
NUTS—
line
Manufac’d.ln
bond, black work
44
0 bbl. 2 25 0 2 37X
44
Vft
Extra,Palled.
No.l, Pulled
California. Spring Clip—
Superior, unwashed
2 F-1J
11
4
37 00
.0
43
33
40
25
44
5x
4X
&
®
0
5
19
88
@
0
44
i 25
19 00
62
55
8X3
27
25
26
22
22
26
29
27
29
.0
0
0
0
0
0
0
44
22X3
“
0
...
44
NAVAL STORES—
Tar, Washington
Tar, Wilmington
Pitch, city
21X
24X
Q
3
....0
....3
44
“
....
“
Yara, assorted
H avan a, com.to
0 26 59
do
<0
®
i 12
IS
PtdceH,
44
44
WOOL—
American XX
American, Nos. 1 A 2
American .Combing
N 100 lbs, gold 6 37X0
do
grocery grades.
Burb&does
Demerara
Porto Rico
’.
N. O., com. to prime
44
*
44
btore
Cuba, claved
V gal
Cuba, Mus.,refln.grMs,50teat.
30
5X3
4X3
gold.
C8
27
23 50
rexas.crop
44
44
44
“
*•
44
Seed leaf—New Eng.wrappers’7L475
44
do
fillers, ’74-»75.
Pa. assorted lour,’71**75
MOLASSES—
17 ;V
28 <a
MX
£9"
16 00
Oak. rough
80
28
2X3
85
0 20 ID
0 18 00
0 17 5d
rough
Slaughter crop
44
44
V ton. 13 fO
17 50
hide,li., in. A 1....
cut loaf
Kentucky lugs, heavy
leaf,
37
,
granulated
Coffee, A. standard.
TOBACCO-
36
39
37
V ft.
44
44
44
Western
5
3
2
cur.
“
4‘
Primecity,
11
10]
LEATHER—
Hemlock. Buen, A’res,h.,m.A l.Vlb.
“
California, h„ in. A 1
common
75
44
ex. sup
TALLOW-
14
LEAD—
17
20
21
<a
16>$®
"
Glycerine, American pure
Jalap
Licorice paste, Calabria
Licorice paste,Sicily
10
5
'
and
do
off A
White extra C
Extra C no
Yellow C....
Other Yellow
Molasses sugars
11
8
V ft.
•*
sup.
Refined—Hard, crushed
1?X
Hoop, Xx.No.22tolA’.Xx.l3Al4 14
5 0
Sheer, Russia...,
...gold.Vft
U*X®
Sheet, single,double A treble, com.
3Xd
Rails, Amer., at Works..IP ton, cur. 83 00 0
Steel rails, at mill
45 10 0
16
....0
gold.
44
Citch
Gambler
cur.
13X*
17
V ft cur.
India
do....
44
23 0
44
Camphor refined
90 a
Uastoroll, E.I. In bond. 0gal.. gold.
Caustic soda
V 100 lb
44 . 4 12X3
18 75 d
C ilorateuotaBb
14
59 ®
Ochlneal,Honduras, silver...
••
54 6
Cichineal, Mexican
■'*
Cabebs, East
do....
Texas,
19X
0
prime Am.
California,
•*
“
“
Domestic, common
Bar (discount. 10 p. c.)
8heet
44
**
7M«
.
Batavia. Nos. 1''@1J
Brazil, Nos. 9@ll
do
do
Bar, 8wedes,ordinary sizes.. V ton. 130 00 3132 50
5
3P lb. 2 5-100
Arsenic,powdered
2 <a
**
13X
Bicarb.soda,Newcastle.^ 100lb “
4 00 ®
13
Blchro. potash
0ft cur.
12X3
55
Bleaching powder
V 1(0 ft. 44
150 B
Brimstone, inis A Srds.per ton.gold.23 50 fc 27 50
3
“0
Brimstone, Am. roll
0ft..cur.
Cream tartar,
gold
&
0
Argols,refined
do....
n
'
Am
Savanllla,
*•
19X
1TX®
COTTON—See special report.
BHUGS A DYES—
Alum, lump.
cur.
20
(overl2 os;
Argols, crude
do....
18X0
1«X *
Bratlers’(over 16 oz.)..
American Ingot. Lake
'
17
Xlatamoras
Ordlnaryforelan
....0
•.•»0
“
“
“
Hard,powdered
8croll
20
25
19*0
0 lb.
Sheathing,new
44
Pig, American,No.2
Pig, American, Forge
Pig, Scotch
2 70
2 75
3 00
2 60
ipry k K—
Elo.
do
Pig,American, No.1
W’nawKeu. N.York. Joha>t’n.
*2 6J
|2 SO
—
do.,..
ss
IKOJN--
Sched.
Port
Sched.
Sched.
n.
N. v.
II boken.
.
P.ak. l. a w.
D.AH.
n.L.&W.
20
Guayaquil, pressed,strip.
Panama strip
Carthagena, Dressed
Nicaragua, sheet
Nicaragua, scrap
Mexican, sh^et.....
Honduras, eheet
23
^Liverpool gae cannel
Penn.
2<J.
INDIA RUBBKRPara, coarse to fine
Esmaralda, pressed, strip
28
18
21
0
0
10
to prime.. “
Western factory, good
44
Crop of 1977
Crop of 1976.i
Olds, all growths
Er.*.’, gold.... 0 100 lb.
factory, fair to choice.
State
Manila,
hops-
Rf7TTER—JV<rto—(Wholesale Prlces)D&lries. pails, g’d to p’me State V lb.
Weet’n fact’y, tubs, g’d to ch’oe 44
H’t Ark.,tubs,State, f’r to prime “
Welsh tubs, State, com. to p me
CHEESE—
22
kips,slanght. gold
4*
dead green..
Calcutta, buffalo
**
•••••••
6 25
6 12X
reflnirg,...fl ft.
Melado
23
**
L. I.8tock—Cal.
Calcutta kips,
Sdflne...
/afnR—Ld.,wta.Anr»,pare. In oil
Lead,wn-, Amer.,pure dry.
Zinc, wb., Amer. dry, No. I
Eine.wh.. Amer.,No.l,In oil
Matamoras.
< 12X0
5 50 0
fair to prime 44
Nos. 10012
44
Centrifugal, Nos. 7013.......
44
4;
4*
44
44
WeiSalted—Buen. Ay, selected
do....
Para,
each.... .••••••
Ajg^l0
«T
lit
giils—;O0*Wd.ecm.fen.A ah.* keg
Paris white.
Porto Rico, refln
Dry Salted— Mar&’bo,as they run44
Hemlock boards,
CuUpikes.alUUes
Orinoco,
California,
do....
do....
do....
do....
cur.
Boxes, c’ayed.
Dry—Buenos Ayres,selected.tflbgold 21
Csnwnt-Roseudaie
g bbl.
Sow-Rockland, common....V bbl.
Rockland. finishing.. •.............
lumber— Pine,g’dto ex.dry.0 M It.
Clinch, IX to
.
!00 ft.gold.
common
sncARInferlor to common
F-ir
Good refining..
Prime
00
00
00
00
HIDES—
Philadelphia.,
*•
3215
0135
0210
3275
270 00
'•
**
“
“
...fib
Foreign
Domestic,
60
.3
gold.2(5 00
Italian
Manila
81sal
Jute
BSSADSTUFFS-Seeapeelal report.
BUILDING MATKltlALS—
Bfioka—Common hard,afloat..V SI
SPELTER—
fi ton. 175 90
130 00
Russia,clean
601
SODA.
The Jobbing Trade
3
York.
ONLY Supplied
No. 11 Old Slip, New
VHV, CHRONICLE.'
(302
ROSENFELS,
.
MERCHANT
COMMISSION
EXPORT
Railroad
Material, &q.
American
Wire
Rope.
BANK-NOTE
iw
STEEL AND
CO..
IRON
CHARCOAL
superior
HOISTING
York.
New
of
suitable for
143 BROADWAY,
OFFICE,
Produce, Provisions and Naval Stores,
XXV.
Financial.
Commercial Cards.
S. W.
VO!..
quality
MINING AND
PURP08ES.
i*
dined Planes,- Transmtssioi
lof Power, &c.
Also G*f
i
29 BROAD
STREET,
ENGRAVES
NEW YORK.
P. O. Box 2432.
Olyphant
COMMISSION
&
Co.,
MERCHANTS,
represented by
OLYPHANT Ac
104
! H
i' V S
Wall St., New Yorb.
English Cannel,
Liverpool Orrell,
American
THE
ARTISTIC
MOST
Orrell,
Also, all kinds of
constantly on
,
IN A BUILDING PROOF AGAINST FIRE.
GOODALL, President,
Zandt, Vice-Pres. & Manager.
Theo. H. Freeland, Sec. Geo. H. Stayner, Treas.
hand
from
which any desired length
are cut. FLAT STEEL AND
IRON ROPES for Mining
purposes manufactured to
order.
STYLE,
JOHN W. MASON
43 Broadway,
Ac
CO.,
New York.
C. L. Van
Insurance.
THE
Railroad Material, &c.
PHELPS,DODGE&Co
CLIFF
STREET,
ENow landing and in yard, for sale at lowest market
prices In lots to suit purchasers.
'
AND
ALBERT G.
Co., ol China,
Ivan'zed Charcoal and BBfor
[Chips’
Rigging, Suspension
Bridges, Derrick Guy^Ferry
Ropes, &c.
A large stoci
Bank-Notes, Bonds for Governments and Cob
porations, Bills of Exchange, Certificates
of Stock, Postage and Revenue Stamps
Policies of Insurance, and all
Kinds of Securities,
IN
Hong: Kong, Shanghai, Foochow A
Canton, China.
PRINTS
AND
New York*
Between John and Fulton,
NIXED
STATEi
LIFE
Insurance
IN
Company,
CITV
THE
OF NEW YORK
the best
ANTHRACITE COALS.
The Trade
IMPORTERS
Tin &
Roofing Plates,
32.Pine street.
OF ALL
Yard—537 West 22d Street.
PIG
Financial.
SIZES
UNION TRUST CO.
OF
No. 73
NEW
YORK,
LEAD,
-
-
“
.
-
Transfer Agent and
Authorized
bylaw to act as Executor, Administra¬
Locomotive
tor, Guardian, Receiver, or Trustee, and is a
Interest allowed on Deposits, which may be made
cand withdrawn at any time.
N. B.—Checks on thlB institution pass through the
EDWARD K
J. M. McLean, 1st Vice-President.
Clearing-House.
EDWARD KING, President.
BLOOD,
Corner Wall
HENRY
Treasurer,
40 Water stieet, Boetos
COMMITTEE.
J. S. Kennedy & Co.,
BANKERS AND
MERCHANTS,
Brooklyn Trust Co.
Cor. of Montague & Clinton sts., Brooklyn, N. Y.
CAPITAL, f500,C60.
m
receiver, trustee, guardian, executor
trator.
It can act
v
r-
or
Buy and sell Railroad Investment Securities. Col*
Coupons and Dividends. Negotiate Loans and
Exchange on London.
Agents for the sale of STEEL RAILS made by the
adminis¬
Cambria iron Company,
as
JOHNSTOWN, PENN.,
AND
THB
persons
unaccustomed to tne transaction of business, will find
Edgar Thompson Steel Co. (limited),
this Company a safe and convenient depository for
money.
RIPLEY ropes. President.
CHAS. R MARVIN, Vice-Pres t.
Edgar M. Cullen, Counsel.
TRUSTEES:
J. S. Rockwell,
Alex. McCue,
Henrv Sanger,
John P. Rolfe,
Chas. R. Marvin, A. A. Low.
Thomas Sullivan, Ahm. B. Baylls, S. B. Chittenden,
H. E. Pierrepont, Dan’l Chauncey, John T. Martin,
John Halwv.
Joaiah O. Low,
Ripley Rones
Alex. M. White,
Austin Corbin. Edmund W.Corllei.
Wm. R. BUNKER. Se<Trt<»rv
PITTSBURGH, PENN.
Greenebaum Bros. & Co.
All business
relating to the Construction and Equip¬
WM. BO&DMN.
COMMISSION
BANKERS,
Municipal
and other investment securities
Special attention given to collections throughout
Europe and the United states.
J. Alden
Gaylord,
St., New York,
J
MERCHANTS
St.v New York,
*
BORDEN
MINING
Cumberland
IN
ST. LOUIS CITY Ac COUNTY BONDS
AND ALL CLASSES OF
OF
in
54 William St., Cor.
1809.
BRANCH:
Pine, New York.
Established
December,
Called in aid paid np Capital....
Reserve for all other liabilities, in-
1866.
$1,363,636 36
2,517,928 04
4,hlt<,620 TO
Invested and Cash Fire Assets.$8,500,185
Subscribed Capital, for which the
Stockholder s are personally lia¬
ble, not yet c lled in
$9,545,054
Reserve for total Liabilities, in¬
cluding re-insurance, in the U.S.
iu the United States.
Fire Assets held in the U. 8...
10
64
$78°,M8 04
J-6,75J 49
$17767,276
53
The above does not include the Life and Annuity
Funds, which, by act of Parliament, are in a distinct
and separate department, for which the surplus and
reserve of the Hie Insurance Department, named
above, are not liable.
HAS. E. WHITE,
SAM. P. BLADGEN,
Managers.
ORGANIZED APRIL I2T? 1842
"THE-
COMPANY,
coals.
L\M
FALL RIVER IRON WORKS COM’Y
NAILS. BANDS, HOOPS AND BODS.
OLD
COLONY STEAMBOAT CO*,
ISAAC
SMITH'S
or
—M
LIFE and ENDOWMENT POLICIES
$1 Of)
2 50
2 00
SILK
j
UES EVERY APpR°VED DESCRIPTION
UMBRELLA*.
SUPERIOR GINGHAM
GOOD <*ILK
INVESTMENT & MISCELLANEOUS SECURITIES < PATENTED GITaNACO
Refers by permission to W. S. Nichols & Co., Bankers j EX. QUAL. LEVANTINE
J^orK,
iSshJF.S.WI N STON, PRESIDENT
FALL RIVER LINE 8TK AMERS.
33 Wall
DEALER
Lovell,
AGENTS FOR
18 Wall Street, New York.
CHICAGO HOUSE: HENRY GREENEBAUM & CO.
Transact a General Bankingbuslne-s; sell Drafts on
all cites of Europe, ana issue Letters of Credit for
Travelers, avallab e everywhere.
CABLE ikaNSFERS.
Purchase and sale of Government Bonds,
L. K. LOVMIL
'
Borden &
North British and Mer¬
cantile Ins. Co.,
Net surplus
ment of I allroads undertaken.
70 Ac 71 West
BALDWIN,
Superintendent.
eluding re-insurance
Net Fiie Surplus and Reserve...,
and etber securities.
Religious and charitable Institutions, and
W.
Broad Streets.
UNITED STATES
lect
agent in the sale or management of real
estate, collect interest or dividends, receive registry
an^ transfer books, or make purchase and sale of Gov¬
erns era
BUILDING,
and
Incorporated
New York.
draw Bills of
This Company is authorized by special charter to ac
DEPARTMENT,
LONDON AKD EDINBURGH.
41 CEDAR, COR. WILLIAM ST.,
The
MIDDLE
DREXEL
PRESIDENT.
-
-
W. G. MEANS,
Superintendent
Samuel Willets,
McLean,
Wm. Whitewright,
Hutton,
Geo. Cabot Ward,
Wesley,
Theodors Roosevelt.
Williams,
J. H. OGILVIE, Secretary.
-
MANCHESTER, N. H.
A BETAS
»*
PRESENTATION.
BUELL,
OFFICE
Works,
Manchester. N. H.
EXECUTIVE
JAMES
1877
DISCOUNTED
ON
Locomotives, Stationary Steam E
lines, and Tools,
Wm. Whitbwkioht, 2d Vice President.
M.
H.
B.
G.
WIRE.
CLAIMS
IN
MATURING
MANUFACTURERS OF
LEGAL DEPOSITORY FOR MONEY.
POLICIES
APPROVED
OF
AND
BRASS
COPPER,
$820 000.
AND
MANCHESTER
Registrar of Stocks.
ENDOWMENT
wu. be
MANUFACTURERS
$1,000,000.
HAS SPECIAL FACILITIES FOR ACTING AS
ALL
COPPER,
ZINC,
$4,837,176 *2.
SURPLUS,
IKON,
COMMON SHEET IRON
SHE KT
1850.—
EVERY APPROVED FORM OF POLICY ISSUED
ON MOST FAVORABLE TERMS.
KINDS.
SHEET
ASSETS,
Spelter, Solder, Antimony, Ice.
Broadway, Cor. Rector St.
CAPITAL,
AND
RUSSIA
TIN,
CHARCOAL AND
J.
B.
E.
G.
—-ORGANIZED
supplied.
ALFRED PARHIELE,
r
201, 262, 263 BROADWAY.
DEALERS IN
AND
5 00
ON TERMS AS FAVORABLEAS THOSEOFANY OTHER
'lASHASSETSMB $80,000,000.
@FedFRASER