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5
turn
HUNT'S MERCHANTS' MAQAZINB,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED STATES
VOL,
SATURDAY, DECEMBER
23.
CONTENTS.
TUB CURONIOLE.
The Condition
EngUeh News
Banking
of our
Sjretem
5'
585
Department ReportB
Cominerual and MisceHancooa
598
and Oooutlng
ihe Blerioral Vote
584
Latest Uocetar; and Commercial
Ba:^fnt-8e Pro8p«ct8,
;»J
Ne-.Ti!
THB BANKEB8' GAZETTE.
Money Market,
U.
phia Banks, >'ationalBaDli9, etc. !6S
Qai'tMtionB of Htucka and Bonds. 5U7
Invefitinents, and state. City and
Corporation Finances
598
Secnritles,
S.
Railway Stockf, Ojld Market,
Foreli^ BxchanRe, N. Y. City
Banks, Boston Banke, Philadel-
THE COMMBRCIAf.. TIMES.
Commercial Epitome
000
Cotton
600
<2;i)e
1
Breadstsfls
I
Dry Goods
600
..C06
Ctjronide.
day morning, with
the laieH news
up
to
have 80 often expressed sa t« the three-fold character of
our banking system from its earliest origin. Very soon
after the first organization of banking institutions in
this country,
a jealousy sprung up against centralization, which effectually prevented the growth
while it stimulated the
over the country. These
two opposing forces the tendency to concentrate the
money power on the one hand, and on the other the
tendency to disperse and diffuse that power have
continued in operation with various results during the
of
J« iS»Ued on SotUrmidnight of Friday.
very
creation
large
institutions,
of small banks
all
—
—
last
THE COMMESCIAt AND FINANCIAL CHRONICLE
NO. 699.
16, 1876.
century, aad
it
is
interesting to note, in the pages
of the Comptroller's report, the alternating changes, of
form which our banking organism has assumed under
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WILLIAX B. DANA,
JOHH a. ruOYj}, IB,,
WILLIAM
I
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For
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t^~
Jnly, ISliS, to date— or of Bust's Mbbceants' UAeAziNB, 1839 to 1871, luqnire
;
cents.
at the office.
More than once in the history we see abanking institution resembling ia many of
its functions, both towards the Government and towards
commerce, those which devolved upon the old banks t)f
Venice and Genoa in the earlier history of finance ia
Europe, and those of the Bank of France and the Baak
During another portion of
of England in our own time.
the history of our banking growth, the Scotch system
has seemed to prevail; and, instead of having one large
central bank, with many satellites revolving around it,
we have had a limited number of banks, each having hs
own branches, and each supplying the banking and
their operation.
single great
financial
needs of a certain district of the country.
more
chaotic,
and
to consist of a multitude of independ-
ent institutions having
tS^ The Basiners Department of the Chronici-i is rcpreeouted
Financial Interests in New York City by Mr. Fred. W. Jones.
among
THE CONDITION OP OUR B.l\KINfl SYSTEM.
We give up to-day a considerable portion of our
space to the Report of the Comptroller of the Currency,
trhicfa is, in some points, one of the most practical and
suggestive of the yearly reports issued from the Ourr«icy Bureau at Washington. It may be remembered
that Mr. Knox, last year, presented an able argument to
show that the national banking system in this country
is superior to any system ever established before in the
United States, and that it equals in efBfeiency, elasticity,
and strength, the principal systems of banking established in Europe.
In the report before us, he takes up
argument from a new point of view, and illustrates
it by a historical review of the progress of banking
from the early ante-revolutionary period. Wo regret
this
that our limits prevent us from attempting to present an
adequate view of this part of the Comptroller's report.
It will repay attentive study,
in
many
of
its
suggestions.
and
It
it
is
peculiarly timely
confirms the view;
we
At
other times again, the banking system has seemed to be
other, or with a
little
cowmon
or no vital union with each
centre.
The practical purpose, however, of our merahants and
bankers in their investigations into these historical data,
will, of course, be to appreciate the present position of
our banking system, with its future tendencies and
growth. An attentive observer will not fail to perceive
banking systew, due to its three-fold
and differing in so many important points from
the banking systems of any other o«untry, that foreigners have often great difficulty in understanding it.
The
oldest part of our banking fabric consists of the private
banks, which represent, as it were, the common-law
right, which makes banking free to everybody.
Of
course, the statutes of the various States modify and
control these common-law rights and institutions, but
wherever no act ef the Legislature intervenes, these
institutions, here and abroad, do business under the
ancient common law, and awe their charter to no legislative creator.
It thus appears Lhat these private banks
represent to ub the oldest part of the fabric of our banking system, Koxt in antiquity is the system of State
peculiarities in our
origin,
THE CHRONICLE
584
[December 16
1876.
banks, which are chartered under the laws of the various along with it, in those elements of strength which
name implies. Mr. Knox gives a brief depend upon the fact that the bank capital is large in
States, as their
but comprehensive summary of the regulations of the proportion to deposits. A few months ago, in our issue
Thirdly, for 3d June, we gave an estimate of the capital and
aflfeoting this class of banks.
formed deposits of the whole of the banking system of the
was
which
system,
there is the national banking
constitutes
United States for 1875.
which
A more «omplete summary
and
of
1863
and
1864,
laws
under the
the chief subject of Mr. Knox'a report. Ho tells us that from official re«ent data, is givea by the Comptroller,
since 1863 the total number of national banks organized who states that the total number of banks of every kind
Of these, forty-nine have failed, and two hun- in this country is 6,609, having. May 3l8t, 1876, a total
is 2,343.
dred and seven have gone into voluntary liquidation, banking capital of $720,012,806, and total deposits of
leaving 2,08V in existence at present. The capital of $1,974,189,449. As our own estimate six months ago
the national banks amounts to 500 millions, and their was 2,000 millions for 1875, we may infer that during
deposits to 651 millions. The circulation is 291 millions, the present year the deposits of the private and State
which is a smaller sum than has been outstanding at any banks have increased very little, and that probably in
most parts of the country the same law of decrease has
time since 1367.
This suggestive fact of the diminution in the volume affected their deposits which we traced above during
of bank-notes is worthy of more examination than it our examination of the national banks.
has received. It illustrates the errors of the inflationists
regret to be obliged to defer till next week our
who urged the passage of the laws of 1874 and 1875 notice of the subject of bank taxation, which is very
enlarging the volume of authorized circulation. This ably presented in the report of the Comptroller. So
enlargement has now been authorized a sufficient length much public interest has been excited by this topic that
of time for its effects to be seen and the result is, as we it demands a much more complete discussion than is
have said, that under the completest freedom of note possible to-day. A petition to Congress is in preparaissues the volume of the note circulation of the national tion praying for the repeal of such bank taxes as are
banks has steadily declined. It has been suggested that the most productive of evil, and as there is a growing
the Comptroller should have devoted more attention to conviction in favor of the repeal of these imposts, the
rarous Btatej
We
;
this part of his report.
But
is
it
his chief business to
present the facts, and this he has done very clearly.
Another matter of
interest
is
petition,
we
signatures in
number of
suppose, will receive a large
all
parts of the country.
the increase in the specie
which are higher now BDSIKESS PROSPECTS, AND COUNTING THE ELECTORAL T«TB.
We have hitherto avoided discussing the questions
which have arisen with regard to the election, feeling the utmost confidence that our people, as soon
as the facts were
made plain, would work out
We
a satisfactory result. Just now, however, there appears
reserves of the national banks,
than for several years past. This, of course, is a favorable indication of the forethought and energy with
which the banks are adjusting their affairs to the ap
proach of specie payments.
have not space to
notice, in the detail which their importance demands, the
various movements which have been developed of late in
the national banking system. The specie, as we said,
has increased, and so has the aggregate of greenback reserves.
The circulation, which culminated in
1873 at 340 millions about the time of the panic, sank
to 334 millions in 1874, to 319 millions in 1875, and to
292 millions in 1876.
The bank deposits have varied
considerably, but under a very different law.
in
all
In 1869,
the national banks the deposits were 523 millions;
in 1870, 515 millions; in 1871, 031 millions; in 1872,
millions; in 1873, 640 millions; in
in 1875, 679 millions;
and
in 1876,
628
1874, 683 millions;
666 millions.
We
to be a
very great increase of solicitude
more conservative
uncalled for.
classes,
It arises
among
which we think
is
the
entirely
out of the claim made by some
leading politicians with regard to counting the electoral
it is all to be done by the Presiilent of
So great a change in the practice of the
vote, insisting that
the Senate.
country and in the interpretation by our leading
states-
ment of the Constitutional provision in question, would
certainly be cause for alarm.
But we do not think there
the least probability of such
a course being adopted.
not our object to discuss the legal question involved that has often been ably presented in Congress
is
It is
—
by members of both parties, and will be again during
deposits have increased.
It is also important to notice coming weeks.
We only refer to the subject to show
the fact that the capital of the banks has also been how unnecessary any solicitude is on this point, since our
steadily augmenting until the present year.
The com- leading Senators have expressed themselves very clearly
bined capital and surplus of all the national banks in regard to it. Many times have they stated theiqiftelief
amounted in 1869 to 553 millions, in 1870 to 56.3 mil- that the Constitution recognizes two parties as nedfessary
lions, in 1871 to 601 millions, in 1872 to 636 millions, in to a legal result
one of them the President of the Senate,
.1873 to 665 millions, in 1874 to 674 millions, in 1875 to and the other the two legislative bodies, the Senate and
692 millions, and in 1876 to 678 millions.
House. The President of the Senate has his duties clearly
thus see that while the note issues have diminished, the
—
Wo might
with great advantage direct attention to
these elements of strength and stability in the national
banking machinery of this country, as compared with
the Slate banks and private bankci-s. Mr. Knox gives
is to " open all the cerphraseology
tificates;** and then the
changes, and it is
votes
snail
then
be
counted"
of course b
the
stated,
circumscribed in the words, he
—
House ana
some extremely valuable data for this purpose. For Senate. This, we say, is the interpretation which nearly
example, his tiible on page 46 shows that throughout the all the present leading Senators have put upon this proUnited States the State banks and private backers have vision. We do not go back and say such has invariably
an aggregate capital of 209 millions, and deposits of 487 been the practice of Congress whenever any dispute
millions, and that the private banks, State banks and about it has arisen.
That is not the point we wish to
the •ther party required to be present, the
—
make, for we are not arguing the question not stating
with deposits of 1,371 millions. From these figures it what we think, or what should be the opinion ol others,
would be easy to argue how rich is our national bank- but simply what the men who are to decide it hav? stated
ing system, compared to the other systems which exist as their opinion.
savings banks united have a total capital of 214 millions,
•
:
:
Deotmber
16,
THE CHRONICLE
1876,]
we have
Senator Conkling's views ex1873,
He has spoken to the
game effect several times since, bat we have space to
make only one quotation. The matter under discussion
And,
first,
preeeed very clearly in
585
ing communications from manufacturers and their
agents, urging the necessity for an immediate settlement,
while from
parts of the country there are evidences
all
of great disappointment and discouragement.
The
fall
then was a resolution to have the Committee on Elec- and winter trade has already been destroyed; and if this
tions " inquire and report to the Senate whether the contest is allowed to eontinue through January, and to
'*
recent election of electors for President and Vice- grow in bitterness as during the past month, the spring
" President has been conducted in the States of Louisiana trade must also be considered dead; and what next?
—
" and Arkansas in accordance with the Constitution,"
Ac. In advocating the measure, Mr. Conkling said
" Suppose it turns out that in the State of Louisiana one
" hundred and fifty thousand qualified citizens voted for
" certain electors, and that all their votes were excluded
" from the count, and that twenty thousand only voted
" for other electors, can we not inquire whether, in
" truth, these men who had a constituency of but twenty
" thousand behind them are the electors appointed by
« jjut I go further than to raain" Louisiana ?" *
*
" tain the naked power of Congress to inquire I insist
" that we can utilize the result of the inquiry and employ
" the facts in our action upon counting or re/using to count
:
—
To be
" electorul votes for President or Vice-President.''''
sure, at that time the question
at
was not
precisely the one
present raised, but the language used more than
covers
it.
was
issue
Last year, however, the very point
before the Senate, when almost
now
at
the
all
We trust,
therefore, in the interest of the mercantile
classes, if for
be used
no other reason,
in settling
the
Senators
Senate
the Senate,
and
plainly
and
claimed
House, and
not
asserted
the
that
President
of
The
re-
did the counting of the votes.
marks, as given in the Congressional Globe, are very
interesting reading in connection with the present dis-
be remembered that Senator Morton
at that time introduced the bill which Senator Edmunds
has now revived, or given notice that he will call up
again, which bill provided for " counting and determincussion.
for determining
Catcst illonetarD and (Soinmercial (Snqlisti Si tea b
BttSllali narkei Rnporta— Per Cable.
The dnil; closing qaoMtions in the markets ol London and Uvt'tpool for the past week have been reported by cable, aa ih wn in
the following sammarT
London Money and Stock ifarktt. The ballion in the Bank of
—
England bas decreased £394,000 dnriosr the week.
B«t
Moo.
Tuei.
Wei!.
Thar.
Fri.
OoneolB formoDeT.. 03 l&-1f> 93 15-16 93 IS-16 94 3-16 98 15-16 9i IS-IS
"
tccoDDl.. 98 15-16 93 15-16 93 15-16 34 3-l«
1V16
l»-IC
0.8.6a (5-a0t,)'6C(old)lU41i
IM)i
I'MJi
104iW
lOlK
104>i
1867... ;iOX
llOX
IIOX
xlC.7<
luTit
11"K
(J.8.10-40e
1<K«
IWX
IC7x
107V4
107X
M
M
WH
New 6b
mu lOSJ*
106>i
The qaotations tor Qnited States new
10«
ICSJi
106>i
Frankfort
fives at
D.S.newttves
lOiX
lOlX
....
lOlX
101J<
Liverpool Oattan \f'irktt.
ijee special report of cotton.
Liverpool Breadttujga Market.
Bat.
Mod. Tnes.
Wed.
Tbar.
—
Vbbl
noar(extraSiate)
Wheat (R. W. spline). VctI
" iRfd winter)... . "
" (Av. C'al. white).. "
"
(C.White club)... "
Cpm(n.W. tnix.)V quarter
Peaa (Can;>dian)
W
10
10 11
V 9
lU
10 11
09
2
11
17
366
d.
B.
Beet (prime mesej . .9 tc SJ
Pork (W't. mc88).... ybb! ID
Bacon (I'g clear inld.)Vcwl 43 6
54 6
Lard (American) ... "
Cheese (Amer'n fine) "
7U
Liverpool Produce Market.
82
70
43
53
70
"
i.
a.
d.
SO
SD
d.
a.
a.
d.
iOI«
28
10
10 11
11
1
26 9
10
10 11
10
10 11
II
1
11
16
9
97
99
366
866
Tnet.
Wed.
d.
a.
44
53
69
6
a.
6
81
70
43
52
«S
6
69
6
4)
51
68
d.
S9
96. B
'
a.
8>
69
43
MO
WO
6
Wed.
Tnnt.
a.
60
Pr).
d.
d.
a. d.
Tnea.
a.
10
10 ;»
10 Jl
S8 9
1
Thar.
d.
81
C
98
366
a.
1.
S3
99
99
n\.
a.
23
3')
'iO
6
6
Mnn.
d.
d.
s.
82
—
Sat.
a
—
Hon.
Sal.
a.
3
27
«
Liverpool Provitiont Market.
KoelD (common)... Vewt..
d.
«.
i!3
11
w«ir<>
—
d.
28
oaarter 86
It will
" ing the electoral vote." In explaining the measure.
Senator Morton said: " I do not accept the suggestion
the haste possible will
these questions.
t.
leading
all
upon a plan of action
d.
66
a.
Prl.
d.
66
lU «
UH
"
(flne)
10 6
10 6
10 6
10 6
10 6
" that the Vice-President of the United States has any Petroleo.iK
24
refined).... Vea!
25
%i)i
H\i
:0V
"
1!
11
11
13
.spiiita)
12
n
** thing more to do in the business
oi counting the votes for rallow(primeClty)..« ewt. 42 6 4^ G
42 6
42 e
42 6
42 6
'•
SO
50
60
«
65
01OTerBei:d(Am.red)..
65
" President and Vice-President than that specific duty
"
31
81
31
31
8!
31 6
Spirits turpentine
"which is prescribed for and enjoined upon him by the
New York Citv Finances. A resolution waa introduced in
" Constitution. That duty is, in the presence of the Senthe Board of Aldermen and referred to the Comptroller, provid"ate and House of Representatives, to open the certifi- ing for the ieeue of a 5 per cent, consolidated city loan for
" cates." * * * " There can be, under the Coh- $130,000,000. the proceeds to pay off all outstanding bonds as
they fall du.e.
" stitution, no tribunal " (except the Senate and House)
Comptroller Green's address to Messrs. Cisco, Macy, Handy
" to decide that or any other question arising in the and others contains the following
Nov. 26, '76.
Sept 18. '71.
$91.1(«,S7S
" course of counting the votes. The duty is imposed Net funded debt
J62.696,8»5
FloaOngdebt
2,600,000
21.038,651
"upon the two houses of Congress. They alone can per.
Total
t8!l,7S6,4T«
t»3,602,876
in five years
$9,366^899
"form it.'" Very much in the same strain and, we might Increase
Paid for laud and permanent Improvementa fur city in same tlme...$2it,228,8f8
almost say, words, other prominent Senators at that time
ABSESBUENT BONDS.
—
:
expressed themselves, making
when
a decision of the question
it
is
entirely
evident that
really reached,
it
Total OBsesiment bond! outsUndinE
November
September
will
An
20, 1876
1,
{32.396,4(0
11,8*4.800
1871
increase of
$10,571,9(0
outstanding and nnqollectibie assessments amonntbe in accordance with the view that the two houses of The
$10,907,543'
ed November 20, 1878,»to
The advuuce to contractors, &c., on accoantof work in
Congress are to count the votes.
f»rogrebS, aud for which assessments are to be
11.851,386evled
There is, therefore, no reason for solicitude on this
point.
siderate
Politicians
may
in excited
moments
Making a
utter incon-
words and make extravagant claims; but these
all to be decided, not by politicians, but by
questions are
the conservative portion of our people.
We greatly wish,
total of
assessmeuts to be lerted and collected of
Revenue bonds oatBftndineSepteuibtr
mercantile
Arrears of taxes— real estate
Arrears of taxes— personal estate*
classes are compelled to consider the long continuance of
the present uncertainty.
The suspense has
necessarily
deadened trade; and coming,
as this depression does,
after a tension since the panic seldom, if ever in our his-
tory, equalled,
it is
ens even greater.
producing great
distress,
Total nucollected
Of
receiv-
Uxes
:
$16,'.3S,C8S
$6,S89,687
10,853,972— 17,74S,<e0
$33,178,695
will prolably be collected.
SINKING FUND.
sinking fund for redemptirn of city debt:
Being an increase of .>.
•
13,604.062
$9,162,187
amount |20,000,00O
The amount in tlie
November SO, 1876, was
September IS, lS7i, was
and threat-
For some time we have been
this
$22,766,900
16, 1871
however, a decision might be hastened, for there is a feaNovember 20, 1876
ture of it which should make us all solicitous for a
D creusc in amount of revenue bonds
The amount of taxes uncolleclid Nov. 20, I816, waa
quick adjustment. Our Congressmen scarcely appreci- Taxes of IS'6, real aud personal
ate the intensity of feeling with which the
$22,258,881
be Ken that if all these assessments are collected, they
will produce Tin amount very nearly adequate to pay all the
assesement bonds outstanding. * * * Perhaps a fair estimate
of the net yield of these assessments would be $18,000,000.
REVENUE BONDS.
It will
Amoun;
$88,285,737
19,(22,3.'ja
$9,C68t404
of personal tax prior to 1871 in airoars included, $7,089,483.
.
:
.
IHK CHUONICLE
6*5!
[December 16, 1876.
Oct
gfpaytmeut §t\mi$.
»,
Washington, D.
To the Hon. The Speaker of
the
C.
,
December
House of Ueprtsentatmt
:
to submit for the consideration of ConBut
greos, in compliance with section three hundred and thirty-three
o{ the liovised Statutes of the United States, the fourteenth
annual report of the Comptroller of the Currency.
During the past year thirtv-xix banks have been oreanized,
^itb an authorized capital of $3,189,800, to which $1,305,140 of
Nine banks have failed, with an
circulation has been issued.
I
:
have the honor
aggregate capital of $885,000, (including one which had previously pone into liquidation,) and thirty-three banks, with a
total capital of $3,030,000, have been closed by votes of share
lioldera owning two-thirds of Irtieir capital stock.
The total number of national banks organized since the establishment of the national banking system is 3,343. Of these,
•
forty-nine have failed, and two hundred and seven have gone
into voluntary liquidation, leaving 2,087 in existence on November 1 of this year.
Three of these banks, located in the city of New York, have
no
circulation,
and four hundred and
thirty-tliroe
have reduced
their circulation and withdrawn a portion of their bonds, under
the act of June 20, 1874.
The act of July 12, 1870, sections 5185 and 51'-6 of the Revised
Statutes, provides for the organization of associations for issuing
circulating notes, payable in gold, of denominations not less tlian
five dollars, at a rate not exceeding eighty per cent of the par
alue of the bonds deposited, which notes are printed upon
yellow paper, with a distinctive engraving of all the gold coins
upon the back. These associations are required to keep on hand
not less than twenty five per centum of their outstanding circulation in gold or silver cohi of the United States, and to receive
ftt par, in payment of debts, the gold notes of all other associations
which at the time of such payment aro redeeming their circulating notes in gold coin; and they are subject to all the restrictions of the Revised Statutes applicable to other national banks.
Tiie First National Gold Bank of San Francisco was organized on
November 30, 1870, with a capital of $1,000,000, which was subsequently increased to $2,000,000, and with circulation of $500,000,
which was subsequently increased to $640,000. There are at
present nine of these banks in operation, all in the State of California, with an agg^regate capital of $4,450,000, and an aggregate
circulation pf $2,090,500.
The following table exhibits the resources and liabilities of
the banks at the cloae of business on the second day of October,
1876 ihe date of their last report, the returns from New York,
from Boston, Philadelphia, and Baltimore, from the «ther reserve
cities, and from the remaining banks of the country, being tabulated separately
—
:
Boston,
TorklPhtl. and
N.
City.
Baltlni're
99
Oa U. S. bonds od demand
— n other BtockB, bonds, Ac.
on demand
Pajable Ingotd...
Od
*
"8M,i4S
59,m,Vr4
cities.*
Country Aggregate
banks.
2W9
banks. 90 banks.
*
liOftDMand dlrCODOlB
Other
reserre
19,1 14,»:
66,l»l
,
479,169,338
927.5;i,9?»
s,ii«,tr«
442,806
23.101,-50 i49.0S7.45O
!,9a8,3O0 10,419,500
»17,17i',400
liBl,63:
9,0'«,493
3,189,538
sioffle-iiame paper, witb-
oat other aecnrUy
H,BS1,5.32
9355,«.M
96,213. 69'l38,5M,601
W,90(l
5S. 23
19,237,5'« 4, ,701,230
::.%' eo
600,(00
5.113,-*!
1«.'S-,0(X1
All oth«rlo»«0
OTOrdrafts
Bouda for clrcotatlon
BoQ4lH for deposits
'
U.B.bondi on hand
«,7SM:9
76,«)IJl,'
3,93S,li(e
7,904,«0
Otber (-toj-k-i and ends
KWWI^l 3,(<>i,4;a 3,808,141
P«e from reserve agent*
J r.J)7.l.=4 M.JM.OVS
Duo from Qther national banlis 15,iiltl.0W 9,nC3n 6,816,310
Dv? from oilier banks and
17,720.730
55.313,771
'
tnuil^rB
BmI
3,3«j,<r)
..
estate, fniTittnre
anj
Oatrent expenses
Premlunia
i$,9;3,i4:<
J3.!4a,i;o
84,415,!57
8?,J26,931
47,525,090
12,0«!,3a
1,2M,1«6
2,a7,^4«
«,2I03»'
6,S.S8,9,'a
4,878,48-P
23,074,3-8
963.361
4,1B8,H1'<
9 .3,«ii
9;6.L'5i
6.1'.2.l'.W
l,l!9,2il
7'-3,56.1
8,283,42
l!).l«.\4-6
4,1C4,S8(J
l,8,?8,96a
l-13,24«
,
Oiecfes and olher eash items...
fCxcrfiangct* tor clear ng house.
wills ol o^her natlonalbiuiks..
Fracllonai ciirreu;y
,.,
Specie
,
^cgAl tender notes
3.5 ^.7X
^Iis5 4
2,sai.s)
,
^, S. certiflcatesof deposit,
nfo pur cent redemption
«.7S9,7S1
14,6»9J»0
fix
tMrea
000
bank.'.
*
fand
9,'s;',5M
903,533
2,761,2.3a
14.4.^6 6
12.163.25-
39,7«.59S
7,620,000
2,985,0(10
l,a80JXXI
39, 16
997.184
W,843,:«l
?8»,6»4
ISlSVi
e75,ll«
8,'
trosn n.S. Treasurer
Tatals
139.8:0
1,197.»0
43,121
.M3
6,98;,6(1
10.715,261
12,043,140
8;.B70.<:7
16,910,315
1.417,204
31,3-«,76;
81,250,847
29,170 000
14,706,373
2,081,823
389,223,3 2 811Ai7,9i2 181,S64,9« «42,238,«19 1,327,263,36)
LiubtlUtM.
Capital storrk
ei!,4O1090
Riir«!tts f and
l8,9'-'«.l't3
CtMlvided profits
Fdnoiial bank notes outstandiJiK
filate
M,f32,:84
bank noten outstanding.
HYt'londs nirpnld
IntllTldual deposits
i,B. deposits
veMBtts of U.
8,897^08
,
2!,540.'
4,T29,231
47.005,500 30-3.509,747
14,^58.3 1 75.876,538
8,9:>4,&3: 28,863,692
80,154,856 31S,»I4,2S4
82,793
418,913
2tJ,27»
i,i<>;,4i(
198,301
1,!.«,502
184,063,117 ia,ioi.2>s 67,18-1,902 279,031.603
a-,7,719
l,3iO,'Ui
5,368,578
3?,303,0S6
t2,4'a
499,802,282
132.20.',a^2
46,415,216
291,514,030
622,019
3,853,531
ns,ora
to na* lonal banks. ...
71.814,-98
llie to otber bauka and hankers 23,:>»l,6«0
Nolo- and bills redlscouuted..
•tlU payable....
"JO/W!
7,2o6,801
918393
3,68^376
«,74«,?^
15,712,9:«
11,574,183
il,753.145,137,472
!31,f 35,969
48,V'50.il3
5S9,.'199
3,76t,5"3
2,91638-1
6 154 ,7=4
IS3fl.aa3,a»;|311237,a;311H.564.9:5l912.238.6[9
1.8/7.265,368
H.TSl
7,413,797
118.415
2,144,900
l,WSl,iOO
table exhibits the resources »nd liabilities of
banks in eperation, at corresponding dates for the
tbo national
last eight years
:
Oc«. 3
1,
18<11.
1876.
1,617
1,815
b inks.
1.76T
l,St9
1,»7B
2.0-4
8,087
2,089
banks banks banks. banks. banks. banks.
ItiCne
Loans
7160
811 B
W7
340 6
3»4-6
3820
S7
4V8
27 6
41-6
82
changes
U. S. ctfs. of deposit
Due from U. 8. Treag
Other re6oarce«.
108-7
fmr
8v(:
«61
27-6
1S4 8
38-5
1
323
10-3
it
21-2
77
14-8
ii/r-o
102 1
15 8
92-4
800
42 4
8 1
76 5
16-1
18-6
l-i-6
91
115-
1003
l(.e-7
20-6
42 8
20 3
17
IS.-i
87-9
48
19 6
19 1
30
2
1-28-2
14-3
18-i
6-r
65-9
55 6
954 4
383 8
1.^-2
94
148 S
lot
T,
13
10
MWns MWru
941-2
383-3
83-6
ai
149
S4
23-6
100
23
33
Real estate
Specie
Ika&l tender notes.
National b ink note?
Clearing houae ex
252
41-2
HWnt
981 -3
3"ir3
387-!
4T-8
31-4
14n-9
43-1
•.44
381
l,4W-2 l,M0-7 1,730 6 1,7S5-S l,680-6|l,877-2
'
21-4
R4-8
15 9
1000
S9-3
16-7
191
1,88-4-2 1,827-2
Liabiiilies.
43«'4
86-2
Capital stock
Surplus fund
Undivided
proflta...
40r
Circulation
Due to depositors.
Dtie to other banks.
3961
628
118-9
5-9
Otber liabUities
Total....
.
430-4
94 1
38 6
393-8
515-8
180
8 4
458-3
479-8
110-3
48
491-•ol
42-0
317 4
3.-» 1
840-3
631 4
171 9
628
14i-8
643-0^
173-01
8-5
11-5
101-1
120
3(
.54-61
504-8
131-4
493 «
129-0
61-5
£84 3
181 8
530
ITo 8
11-4
469-8
1333
46-4
.^19-1
29'j
979-4
179 7
66i;-3
U
91
3
179 8
10-6
2 1,510-7 1,7.TO1 1,755-S l.B30-a'l,877-2'».P«-3l|.B-?7-a
1,497
OTHBR 8YBTKM8 OP BANKING,
(The Comptroller, under this head, enters upon an extended
history ol the Banks and Banking Systems of the United States,
which, though extremely interesting, its length compels us to
STATE BANK STATISTICS.
systematic effort to obtain and compile statistics
showing the condition of all the banks in the United States, the
need of which had long been felt, was in the passage, in July,
1832, of a resolution by the House of Representatives, directing
the Secretary of the Treasury to lay before the House yearly
thereafter such statements relating to the banks organized under
State laws as could be obtained from the several State officials.
Previous to the passage of this resolution, such information upon
this subject as was made public was obtained principally by
individual efiFort, any general information of the condition of the
banks being procured with great difficulty, and such statistics
even as were obtained being found very imperfect. Mr. Niles,
in publishing in the Register a table derived from the report of
Secretary Crawford of 1820, givlufif the capital, airculation,
deposits, and specie of the lianks in 1819, said: " It will be seen
that the preceding returns are very imperfect, as, for instjince,
the capital paid in in Maryland is giveu at $88,290, whereas it is
nearly eight millions of dollars.
Several of the other items, I
know from various documents in my possession, are pretty nearly
omit.)
The
first
correct, yet
some are
also
much
deficient."
Mr. Gouge, in his Short History of Paper Money and Bankingin the United States,* also says, that " efforts, extending over
seven years, to collect the accounts of the banks of the oountry
had proved so unsatisfactory in results, and so little mccess had
crowned the labors of Mr. Crawford, Mr. Gallatin, and Mr. Niles
in the same direction, that it waa not thought worth while to
arrange for publication the materials that had been procured.
To collect and arrange the accounts of five or six hundred banks
which are or which had been scattered through twenty-four
States and two or three Territories would be no easy task."
The Comptroller gives in this report such information bearhigf
on the condition of the banks, both before and since the passage
of the resolution of 1832, and down to the time of the establishment of the national banking system, as careful research into
official reports and the publications of writers on financial subjects during the periods mentioned have enabled him to procure.
In the report of Secretary Crawford on the condition of the
banks, January 3, 1836, there is printed, on page 216, a statement
taken from Blodgett's Gconomica, giving an estimate of the
number of banks in the several States, their capital, circulation,
and specie, in various years from 1774 to 1804; but an accompanying note says that probably many of th«< amoants given are
largely conjectural.
The statement is printed below in a condensed form, and is the only one known to the Comptroller
containing information of auy kind as to the condition of the
banks in the years named.
In this table the amounts are
expressed in millions of dollars
No. ollMel'lliqCirculaCapital.
£Tear. bank? med'm.
tioii.
i
'
Xo. of Met'UiqCircaia-s
Year, banks med^m.
tioi:.
Capital.
Miirns. Mill'ns. MlU'na.
4
1774.
1784.
1790.
1791.
1793.,
1793.
1794..
1795..
1798.,
100
9-0
18
•'
2i'
"a-6'
8 5
9
180
11-5
20-0
21-5
ll
19
19-5
11-6
no
10-5
Mill'ns.
16-6
14-0
l-i«T.
1798,
2-3
ns9.
170
lS-9
17 1
18-0
18
19-0
19-2
1800.
1801.
17-6
MUl'ne
100
9
100
19-3
19-8
21 -a
10-5
irj-o
U
'2.
18-5
10- .0
S3-S
noz.
lao
11-0
280
17-6
140
89-5
8
224
Secretary Crawford, in his rejiort on the currency, made to
Congress in Febru-ary, 18C0,+ estimated the capital, specie, circulation, and !oa»s of the banks of the country, for the years 1213,
1815,
•The reserve cities. In addtiion to Vew Tork, Boston, Philadelphia, and Bait'.niojp. are Albany. PIttsb'jrgh. Washington, New Orleans, LouieTlfle, Cincinnati,
eittTblsnd, Chicago, Detroit, Milwaukee, St. Louis and San Fiancbco.
S%e following
Oct
1874.
and 1319, as follows
Year,
Totals,
2,
lew.
Bonds for circurtion
Other U. S bands..
Total
Sep 12 0CI.
6il.385.a0
S. dlsbnrslitg
oncers
•«e
Oct. 3
1
1872.
Other stocks, bds,&c
Due fr'm other b'nks
3, 1876.
3,
1671.
MWns mVns
Be»ouret$.
Treasury Dep.vutjient,
OlTFICB OF THE COMTTUOLLKB OF TUB CuimBNCT,
Oct.
8,
1870.
banks
REPORT OF THE COHIPTROLISB OF THE CUBBENCY.
Oct.
18e».
1818
1816
1819
O^pltal.
bjecie.
MrculaU«n.
UiUions.
MiUlons.
iia loss.
65
28-
8.1-0
lb-5
21-5
125-0
62 to fil
99 to 110
43 to 53
Loans.
MUUnna.
Ui-0
1^0
1510
In this report he also gives a statement of the bank oapital for
•
Page
280.
t BUlott's
Fun
ling System, pp._73J t« 73f.
.
Decimler
THE CHRONi
187 6.]
16,
the yeara 1814 to 1817. by Siatpf, " iwi Jar aa it was known at the
Treasury, " which will bo found iii the appendix to thia report.
This statement he believed to be Biib.stantiiilly correct, for the
reason, an Btntcd by him, that it was based upon the applications
made to the Treasury Dt-parlmont for compositions of tlie atamp
duty of about one per cent, whioli duty was, by an act of ConUresa of August 2, 1813, imposed upon the amount of notts
iesucd by incorporate »r uninoor|ioniled banks. Tbe act further
provided that, in lieu of this duty, the Secretary of the Treasury
might agree with any of the banks to an annual comjwsitioii of
one-half of one per cent upon the amount of the annual dividends made by them to the Btockholders. Tlie aggregates of
bank capital given in the years named are as follows
1
;
1814.
1815.
I
1817.
1816.
I
I
JRO.aSJ.TOO.
J8a,lS6H!ia.
tl25,676,440.
ta0 3?H.V}4.
In respect to the bank capital given for the year 1817, Mr.
Crawford says that, after deducting the amount of permanent
accommsdal ion enjoyed by atockliolders in their respective banks,
the active bank capital of the United States may be faiilv eeti-'
mated at a sum not exceeding seventy-five millioBS of dollars.
Keferring to the custom then prevalent of paying bank capital
I
I
with stock-notes, h« cays
:
Sacb, it is helievctl, baa been tbc process by which the capital of most of
Ihebanhp has bci.ti formed, which bos bt^en inrorporated since thecoramencumcct of the iute wur, ns i-lncc itiai time l)ank» have been incorporat d cot
becAQge thcie W.1D capit'il B€ckliit; iiivoi*tmurt, not becanvc the places where
tjiey wt-re eeta pliphed had f oram'Tce a'.d minutacturrs which required tlielr
fofieritic; aid, but bt'cauM*- men without active (apilal wanted the mean? of
obtubiin^ 'o^nn which their ttindiuK in tlis conimiiniiy would itot command
from baukH or individnal9 haviog real cupiial 8n:L establitthcd credit. Hence
the mnlttpllcity of loral li>Hnkx t-caticred over the face of ttie country iu
pM
ticuliir parte of the Union, which by the depreciaiion of their pap<T hive
levied a tax ni on the cominunitiea w thiu the pale of ttieUr iuflaence exceeding ihc coniribu'ioDS paid by ih'. m.
Mr. Crawford also gives a table, by States, which will be found
in the appendix, showing the condition of tlie banks for the year
1819, wliich table, however, lie admits to be impeifect, and in
which the items of capital, circulalioa and specie, for thw banks
in the State of
York (the only ones giveu), are stated to be
on the authority of a report made by a committee of the
York Legiiiluture. Tlie aggregates of. tlio principal items of the
State banks, as taken from Mr. Crawford's report, together with
those o( the Bank of the United States, as taken from a report of
New
New
its
coadition
i
n October of the same year, are stated below:
Capital.
State bank!". ..
Bank uf thi
a. S
Total
Loaui!.
872,E4O,-70
]
$i3,«-J?,')9C
Depoftt>.
Circnlaliun.
$35,T:0,90S
$11,192, 65
Specie.
$9,883,'; 45
71,928
59,935,ee8
f,494,4n
8,fl0,lll
S,2J 1,479
$107.314.59?
$lft3.556,iii4
SI6.6ai.59i
$39.;8!,014
813,033,2il
34.!
In 1831 Mr. (iallaiin made au estimate of the numljer, capital,
circulation, deposits and specie of the banks in the United States
for the years 1811, 1815, 1816, 1820, and 1839, and also a similar
estimate for the Bank of the United States for the first and the
last tvro of the years named.
These estimates have been combined in the following table :*
BANK OF THE f KITED KTATCB.
fNo.of
banks
Years.
1811
1880
1880
Capital.
Clrcnlation.
1
$10,000,000
1
35,000,lJfO
$5,400,000
4,281,770
»i.':03.5lV
1
3.->.0<'0
000
l.i.018,984
14,77S,80»
bTATB
1811
1815
1818
$4).610,«0')
$22,700,000
83,259,690
45,.')00,000
185a
18«»
3-29
UtS..
20S
v4«
3i8
330
1?J6..
1830..
1S88..
Specie.
$5,800,000
3,147,977
7,175,S74
BANiC-*
88
SOS
!46
f07
181t..
Deposits.
19,600,000
17,000,000
19,i'00,000
lo;,! 10.611
68,010, GO
411,641,574
$3i,241.95V
110,162,^68
43,i74,914
40,781,119
$53,810,600
H2,«'l,590
$-}s.ion,co9
45, 01, OJ
8t,'-2.',42J
68,a'H),0(lu
187,1111,611
41,%3,.;62
61,323,S)8
115,192.2^8
1«,«73,V61
14,939,6!3
$16,410,0--0
17,01 0,.
$35,950,170
65,569,928
00
19,0.0.09J
19,8;0,2)0
42,114,917
He also gives a comparative statement of the principal items
of assets and liabilitits of the banks at the end of the year 1839,
by groups of States, as follow.i
Capital.
6tatei>.
Deposits.
Circulai lun.
Specie
New
1
eraay
$30,815,092
$7,394,686
$4,203,895
$2,191,768
2J,583,539
12,737,539
14.594,145
2,811,746
23,566,022
ll,!74,0Se
10,860,739
4.170,592
Pennsylvania,
Delaware,
Maryland, and District of
Columbia
Sooth Carolina, L ni-iana.
Alal-ama, and Fli rida ..
Western Statcht
ToUls
17 BOi.l-Jn
D,B<»,i86
6."52,194
4,180,146
8,046,141
2.686,396
$13,474,914 $40,781,119
$14,9.W,M3
12, If 3,863
4,684,660
:
New
Capital.
&
In the reraaindw of
United Sta'es
Totals
Circulation.
Deposits.
Specie.
York,
Philiidelpbia,
Baltimore.
Uharle9to;>
N. Orleans.
Mr. Qallatin also gives a list of 338 banks in "pf-ration in 1830,
with au ajfgregate ca|: ital of (110,101,898 (exclu.sive of the Bank
of the United Siates); and of 120 baokf, having a capital of
which had
failed or discoutiiiued buniness aioce
of 3G bank^ whose capital was not known
is also given.
He further gives a statement of tliH discount on
bank DO es I'uring the suspension of specie payments fniut 1814
to 1817, whicli statement will be lound in the appendix.
Elliott's Funding System* gives, on page 081, a Btatement of
the number, capital, circulation, loans and deposits of the banks
of the couatry for various years from 1811 to 1810, which is frequently quoted, and often erroncoui^ly credited to various writen
on finance. The statement is as follows:
and
No. Ill Lo
Date.
banks ditcouiiU. Specie. Circalat'o.
C<l)l(al.
$24,312,!]:!0.
January, 1811.
A
list
m
»
January
January
Janua y
January
Jsuuury
January
January
Januaiy
Janncry
January
1,
8!)
i&,«n.ooo
!.
238
17,000.000
18.000,000
1811.
1816.
1, 1818.
1, 1g2).
1, 1630.
1, 1834.
W,
3I»
111,820.240
330 200,461,214 22,114,1)17
506 ;124,11»,4'«I
558 36fi,U3,834 43,^37.025
457.6Oi,0(*l 40.019,594
5»;
63( 62.5.115,702 37.916,340!
- 48.''>.631.687 .Vi 184,112
6':2'i 492,278.015 46,132 673
722. 462.890.523 38,106,166.
1, l;j36.
1. Ift'iO.
J.'inuary
1,
18*7.
1888.
183t.
January
1,
18
I,
1,
lO.
28,100,000
46,500,000
68,000.000
41,81.8 S44
61,323,8.18
94,839,570
103,tt'.i2,4fl6
82,aaa,(8»
8tt,8ai.4a»
35.980,470' 187,210,811
6^86»,ll28 14M«8jn
75,886,988 l!UO,0a6.M4
83.081
.3i'.fi
140,801,038 115.1(M,41iJ
149.185,f9rf I27,3»7,1K«
116,138,910 81.891184
136,170.995 90.240,146
106,968,672 76,i;96,8&7
231
Kil
a0 3Sn
WB,298
290,772.091
817,ea(>,778
327,182i61»
358,442,898
It is stated by Mr. Elliottf that 55 banks, with an aggregate
capital of fC7,036,365 and circulation of f33,577.752, failed in
The total bank-capital of that year is stated by him at
1841.
and he also
$317,842,603, and the circulation at $121,665,108
states that in nearly every instance the capital of those bunks
which failed was entirely lost.
He also gives tables of foreign and domestic exchanae, of
specie at New York and Philadelphia, and the prices of banknotes, by Statt*, in those cities at various dates from 1814 to
1838, which tables ho says were transmitted to the Senate in
February, 18i8, by the Secretary of the Treasury, in responfe to
a resoltttiou of that body. Hesiys: " The document is voluminous; we have been able to condense it, so as to pre.-erve all its
most useful information, into lets than one-half the original
The
space, with perhaps the benelit of a more ready reference.
effects of the various suspensions of specie payments during the
above period are clearly indicated iu the quotations of prices of
specie, the iluctuations of tbo excliauges, and the almost nomHe also glT*s
inal (in many instances) prices of bank paper."^
tables of rates of domestic exchange at New York from 1838 to
1841, and the prices of leading State stocks in New York at the
latter date. The tables relating to the rates of domestic exchange
and the discount upon bank notes for a series of yeaiji have been
still further condensed for the present report, and will be found
;
in the appendix.
The act of June 33, 1836, which
tary of the Treasury to select and
made it the duty of the Secreemploy, as depositories of the
public money, banks incorporated by the several States, required
that each bank should furnish to him as often as he might
require, but not exceeding once a week, statements setting forth
their condition and business; and that the Secretary should at
the commencement of each session lay before Congress a statement of tlie nnmt)er and names of the banks employed as depositories of the public money, with their condition, and the amount
deposited in each, as shown by tlie returns received by him.
This act also pro''ided tiiat uo bank should bo selected which did
not redeem its notes and bills in specie on demand, nor which
should, after July 4, 1836, issue or pay out any note or bill of a
The act further provided
leas denomination than five dollars.
that thereafter no notes or bills of sny bank which is.^ued currency of a less denomination than five dollars should be received
Prior to the
in payment of any debt due to the United States.
passage of this act, and also under its provisions, compilations
of the' reports of the deposit banks were prepared at tlie Treasury Department, and transmitted to Congress at sundry times.
Many of these slnteraents are published in the reports of tbe
Secretaries, from 1834 to the date of the passage of the 8abTreasurv act of August 6, 1846.
The following Btatement, derived from the report
Woodbury for Sept. 21, 1830. exhibits the condition
1.
of Secretary
of thirty-six
and of eighty-nine on Nov.
June
1,
1E36.
36 banks.
$46,418,0!)2 83
6,«26,823 14
Capital
Profits on hand
Circulation..
Public deposits..
.
27.%7,li2 40
.
A third table given by him is printed below, making a similar
exhibit for the same year of the banks in seven of the then princi(.al commercial ciiiis, and for those in the remainder of the
country, separately
Boston, Salem.
587
?Ji;
1. 1-836
:
§
Not. 1, 1836.
e» banks.
LiabUllus.
$110,194,' 63
Cities.
.
of these banks on June
Maine, New Tfampabire,
Vermont, Massachaeette,
and Rhode Island
Conneciicuu New York.and
.
$53,211,605
$23,137,129
117,144,422
$7,338,085
4l,Oi3,S6S 66
40
17 110.822 38
6,';6 1,654 29
I6.l'4t,.573
Other deiiosits...
Due to banks
Other liabilities..
TotaU
.
Stocks
Real estate
66,9:0,663
$110,192,268
17,643, 99P
31,13M^2
48,274,914
$108,498,037 74
$16i,97S,890 24
Due from other honks.
Nuifs of other banks..
17,867,S'>9
S|X!cie
10,4>(l,415
10,«82,790
ia.66.i,ll3
the
7 681 618
S7
49
42
13
63
$u:2.2.-5.068 68
Totals
90
82
30
65
28
69
$24S,842,»6« 21
l,8»2,")-l2
Other resources
11,048,.(So
41.48-.>,,897
49,i7r,,986
26,573,,479
S4,0»i,,161
13.T0O,,279
$162,255,068 68
Retourea.
Loaps aud discouote.
$77,676,,i49«7
6,18190? 45
3,0>I,4S« 96
70
16.412, 21 67
15,t2;l,S(l2 48
lS0a8,523 88
26,li62,t>i8
t24.'<.84\950 21
Froiu the~informatiou contained iu tbo reports on the condi
1
$40,781,119
$14,939.01)
•
* Consldi-FalionB on the Cnrrency and lUokiog Systems of the United
States. Pliiladolphia, 18:11 : pp. 45. 4't. a.d 6t.
t Nj bankn were lu operation ii> Kentn ky, Indiana, IiUnoie, or Hisionri.
H»n"c Ex. Doc. No.
t Elliott's Fmdinir
t Ibid. p|i. HOC
15, 1st sees. 28ih
p. 1176.
System,
toim
j
Finance Report, lse9-S6,
p. 758.
CorgreES.
,
.
..
,
1
..
THE CHRONICLE.
688
tion of the banka, made annually to Congress in complkiiee with
the resolution of 1832, before mentioned, carefully compiled
tables, by States, have been prepared in this office, which appear
in the appendix to this report. These tables, with the exception
of that for Massachusetts, commence with the year 1834. which
is the first year for which an aggregate statement that is even
measurably complete is priven, and are brought down to the
year 1363, a summary of the condition of all the banks in each
year being also given. The statistics derived from these reports
»re not, however, perfectly reliable, and the aggregates for the
Southern States in the years 1862-G3 have been estimated to be
the same as for the year 1861.
The statements of the Massachusetts banks from 1803 to 18R3
are the only ones which are complete as to all the principal
items, and tables showing their condition for the years named
will be found in the appendix. The returns of the banks of the
New England States, and of those of the State of New York
since 1834, are generally reliable.
Previous to the year 1843,
reports were made by the banks of the State of New York either
to the Legislature, the bank-commissioners, or the State comptroller; but a few of tlio older banks made no reports whatever
to any official authority.
One source of difficulty in determining for any specified date
the condition of the banks of the country under tbe old system
lies in the fact that the dates for which reports were required
were not uniform in the several States. Each State determined
for itself the time for making these reports
and as a consequence, the dates of the returns, which are given in the tables
mentioned, differ in certain years anii for certain States by a
period of six and even of nine months. Nor is it even certain
that the returns of a given State include, in any instance, all the
banks of that State, unless it be those of New England or of the
State of New York.
No returns are given in these tables from
the banks in the District of Columbia, but a separate table has
been compiled, showing the condition of the principal banka in
the District in the years 1814, 1819 and 1844, tlie data for T\hich
have been derived from other sources.*
As full statistics as could be procured of the two Banks of the
United States, as authorized by Congress, are given in tables in
the appendix, together with similar statistics of the bank of the
same name which was chartered by the State of Pennsylvania.
•The period covered by these tables extends from 1817 to 1840, at
;
about which time the last-mentioned bank
The following
items of the Bank of
J
[December
of stocks and bonds which form part of its assets, the names of
the associations in which its funds for reserve are deposited and
the amount on deposit with each, tho class of matters held as
cash-items, the ratio at which a reserve of lawful money has been
maintained during the preceding thirty days, and the rate of
interest, if any, which the banlf pays upon its deposits.
Semiannual reports are also received, showing the earnings and losses
of eaph bank and of the dividends paid to its stockholders; and,
in addition to the above and to other reports which arft furnished
iu accordance with the requirements of law, special statements in
reference to taxation, or on subjects of particular interest iu
times of financial revulsion, are called for and obtained from the
banks; from all of which the elaborate statistics appearing in the
pages of this and former reports of the Comptroller have been
compiled.
The following table exhibits the principal items contained in
the returns of the State banks of the country, yearly, from 1834
to 18C1
:
No. of
banks.
Years.
ia34.
1835.
1836.
1837.
1838.
1839.
1840.
1841.
1848.
1843.
1844.
1845.
1-46.
1847.
)8i8.
1849.
1850.
1851.
1853.
1851.
1855
1856.
506
704
713
788
839
840
901
784
692
691
696
707
707
715
751
782
831
879
750
1W7.
1853.
It59.
2:J1,2.50,.3.37
.36>,16:3,8:34
251,875,2-3
290.778,091
4.57.506,080
52.5,115,702
317,6.36,778
327,132,512
358,442,692
313.608.959
860,171,70;
238,861,948
310,873,056
206,015,969
196,8*4,30'.)
803 070,683
201,8:38,175
207,30{),36;
817,817,211
217.807,553
207,808.619
1,20.S
3,4,:j76,071
3;2.177,283
343,874,273
370,834,086
394,642,799
401,976.142'
4J1.8-0,0 '5!
429,59 !,713:
1.562
If 61.
8S0O,Ol'5,944 (331,119,49,
1,307
1,39 J
1,416
1,422
1,476
1.601
Individual
Circulation
Deposits.
Loans.
Capital.
4«J,631.«H"
492,278 015
462,896,.523
386,487.66:^
333,9.57,569
234,544
11.5,104,440
140,301,0.38
127.397,185
84,691,184
90.^40,146
75,696,857
64 890,101
68,408 870
140,185,890
116,138,910
135,170,996
106,968 57i
107,290,214
9.37
.56,168,18:3
84.51)0 785
2'i4,905,S14
288.617.131
313,114,404
310,882.945
344,476,582
.332,3M,195
364 304,078
413.756.7«9
408.943.75;
537,.39 7,779
576,141,758
634,lN3.-.if0
634.4.56,88:
58:J,165,'J4i
637,183,799
691,945,530
69 .,778,421
Spccio.
$75,666,986 $94,839,570
83,081,363 10:3,692,495
88,020,646
96,913,070
91,793,5.33
43,987,885
40,019.594
37.915,340
35,184,112
46,138,673
3:3,105,155
34 813,958
88,440,423
33,515,806
49,896,269
44,841.242
48,012,095
35,138,516
83,7.34,011
58,563,1,03
75,167,646
89.608,71
10 ••,5.52,427
91,178,63:3
165,619,766
133,506,091
114,743,4:5
585
131,.36-,.''2;)
128,957,7'2
155,165,251
146,072,780
204,689,207
lf6,952,S23
195,-47,930
8H,778,!-2J
153,808,314
59,410,253
53,944,546
59,314,063
53,349,838
74,412.8«3
1:^3,506,818
!M,5.7,818
807.102,477
303.003.767
83.594,537
87,OT4,5Q7
103,336,177
10,1,5-"8
14\55:3,.S76
18i,.e8,744
190,400 312
213,705,663
230.a51,a5i
l.';5,g:j
',049
23'J,568,37S
35.3,803,12V
l(57,-.29,562
failed.
table exhibits the agjf regate of the principal
the United States and of the State banks, so far as can be ascertained, for various years, from '.811 to 1840
16, 1876.
48,.369.765
43,618,368
45,379,345
48,671,048
47,1.38,698
The table below presents the principal items of the national
banks on or near October 1 of each year, from 1863 to 1870
:
:
Bank of
U.S.
State
B!.n::8.
B»uk
U.
Capital
S
1
I
State
I
Banks.
Bank
t
of
State
U. S.
1816.
t
$
$
10,000,COO
53,601,601
82,259,590
89.822,432
l>eposite . .
Circulation.
5,400,000
28,100,000
t,8CO,0lX)l
15,400,00lj
45,500.000
17,C0J,000
63 000,000
Specie
Loans
1830.
*
Capital..
Loans
.
. . . .
.
Deposits
S
31,401. 15>)i
40,663,805 •.:00,43!,2I4 54,911,461 i24, 119,499
"5,666,986
94,r39,670
Clrcalaiion
Specie
. . .
«
t
I
t
18.37.
$
t
.
Capital
'\
1839.
$
1840,
S
$
85,000,0
.
-
..
.
ClrcnlatiuB
S
'
.
13M.
Specie
I
.
317,6.W,778 :»,000,COO 327,132,512
45,3:.6,.'>7I 435,831. 6S7 41,618,687 492,878,01.5
8,6 6,713 84,691,181 6,779,394 90,240 H6
6. 168,067 tl6 138,910 5,932,621 136,170,995
3 770 8)2 35,1*1.112 4,153,607 45,1.32,673
The Comptroller
is
indebted to Hon. E.
3.'-,n(
I
ft
000 a58,442,652
::'6,83'.),5!):i;462,S96.."83
7 ',691 857
6,1.95,861 106,H68,572
3,33^521
,469.674
33,105.155
W.
Keyes, late deputy
superintendent of the bank department of the State of New York,
for a tubular statement, derived from the advance sheets of the
second volume of his History of the Savings Banks of the United
States, exhibiting the growth of savings institutions, as shown
b/ their deposits, in the New Eog'and States, New York, New
Jersey and California, from 1830 to 197r,. This table will be
found in the appendix.
The several statements which have thus far been given in this
report, together with those printed in the appendix, are the only
ones known to be in existence which aim to show the coniition
in former years of all the State banks of the country; and the
information they contain, though only approximately correct, is
still valuable, and much sought for by writers
upon finance and
political econoihy.
In contrast with the incomplete and untrustworthy returns
which were obtained under tho old systums of State bankino-, it
with a feeling of satisfaction that the Comptroller is enabled
to present to Congress full and complete statistics of the' banks
in the national system, at uniform dates for each ye.ir, sines
its
organization.
Iteports of the condition of these banks are now
received by him five times yearly, each for a day already passed,
the statements presenting in detail all the items that can afford
information as to thn true condition of the banks. Every statement is accompanied by schedules, which show the character and
condition of the discounted pjper of the bank, the various kinds
is
•American State Papers, vol. 3— Finance, pp.
P.ndlnE System, pp. 1181 and 1160.
101
and
:)02;
Individual
Circulation
Deposits.
Loans.
Capital.
1863.
1864 ..
Ib65...
1866...
1867...
1868...
1869.
1870...
18tl...
.
18-2
..
1873.
.
66
503
$7,188,393
66,782,803
Specie.
1513
3!-B,1.57,v06
1,644
1,612
1,643
1,617
4I5,472,:J69
4.0,07.3,415
420,f;3l.511
8
4::o,399,:301
1,6
1,790
1,910
1,976
2,027
8,087
8.039
1874...
It75...
1876.
4;6.399,151
453,255,6:»6
479,I29,174
491,072,616
49.),765,121
504,>29,76;l
$5,466,088
$8,497,688
93,2:18,658 1<:3 166 5:36
487,170,136 500,910,873
60:3,114,705 564,616,778
609,675,213 540 797,838
65:,66<,848 530 9«),f21
882,C83,107 311,400.197
715,93 -1,050 501,407,387
831,558,310 600,8 18,487
877,197,923 613.S!90,671
011,220,116 6v2,6e5,56:!
951,:i94,79i 669,063,996
934,691,434 6 4,5,9,6191
931,:i04 714 651,3t5,210'
(123,660
4.3,210,501
171,821,903
'l8,'072',6is
8:0,13:3,818
a!-3,8S7,941
2»5, 769.489
9,8-i6,33«
l).7!ie,014
13,003,713
23,003,408
13,460,011
2 1.3,593,6 15
291,793,610
315,519,117
13,'.'52.998
8.39,031,799
10,229,757
19,868,469
:333,-.i->5,29i
31,340,941)
3:t<,330,379
8,050,335
21,366,767
33:3,4!- .5.0J7
*•»»»-»-»
.
49),S03,3 8
The redemption-fund with
tlie
291,54l,0i0
United States Treasurer
is
included for the
yearj 1874, 1873 and !87d.
35.0X),000 2!1,'->60,337 ;35,0OO,0DO 231,875,29) .35,000.O00'29n,778.O91
...'61.8J8,'M 3ij5,lii:j,(<34 59.2«,415 457,51,6.080 57,39) 709|f85.n.5,7C2
...'11.756,905 83,081,365 .5,061.456 116.104.440 8,33'2,40,ill27,397.185
n,339,7»7|l03,ti9i,4» 23,073,422 140 301,038 11,447,H68 14'I,1S5.890
15,-;a8,589; 4:l,93T,6a 8,417,988 40,0.9,594 2,6:38,449] 37,915,340
.
i
Loans.
Deposits
•15,000,000 20O,0J5,944
1836.
18.35.
Deposits
»
14M92,268
3.'i,950470 16,045,782, 55,559, Ipd 10,'-38,.55.44,86 '.Ml 13.921,145 61,32:isJU8 19,8U8,3?»
3,3M,7.;5| la,8i0,iJ0 7,6t'8,0:6 82,114,9! l|i,l)3«,83^
;
.
s
I
35,01 0,f 00
3f89.481
.
.Specie
Capital
Lottos
18M.
3 ),000,000 137,110,611
6,568,791
Circnlatipn
19,000,000
18:30.
s
No. of
banks
Years.
Banks.
.
1815.
1811.
S
of
S.
and Elliotfa
NATIONAL-B.iNK CIKCUL.VTION.
Section 5,177 of the Revised Statutes of the United States
limited the aggregate amount of natiosal-bank notes to three
hundred and fifty-four millions of dollars; but the circulation
issued has never reached that sum, the largest amount outstanding at any time having been on December 1, 1874, when it was
$352,394,346, or $1,005,654 less than the amount authorized by
The amount named as outstanding includes $2,976,138 of
law.
mutilated notes, which had been returned to this office in order
that they might be destroyed and replaced by new notes, as provided by law, and they were therefore not in actual circulation.
The following table exhibits the total outstanding circulation
not including mutilated notes in transit, on the 'first days of May
and November of each year, commencing November 1, 1868,
when the amount issued was within $112,335 of the three hun
dred millions of dollars then authorized
:
Nov.
1,
May
1;
Nov.
1,
1868
18S9
1869.
May
1,
1870.
Nov.
1,
May
1,
Nov.
1,
1870
1871
1871
May
1,
1872.
Nov. 1,1872
I
..I
I
$299,,S87,875
May
1,1873
299.85 1.765
Nov.
1,
2W,7a3,655
May
1,
8!)9,481.963
301,860,35'l
Nov.
1.
3 4.533,600
Nov.
1,
.?.'4,477.222
:,i33,T50,677
May
1,
Nov.
1,
May
1,
1873.
1874.
1874.
1875,
1875.
1876.
1878.
i
$:J44,893,744
348,350,94»
349,0:3,398
343,791,152
348,10^,886
343,183,288
331,555,046
319,878,196
310,99:3,470
"The act of June 20, 1874, authoriz'd any national bank desiring to withdraw its circulating notes, iu whole or in part, to
deposit lawful money with the Treasurer of the United States,
iu sums of not less than $9,000, and to withdraw a proportionate
amount of the bonds pledged as security for its notes under
which law $.53,853,500 of legal-tender notes have been deposited
ill
the Treasury for the purpose of retiring circulation, and
$37,122,069 of bank-notes h«ve been redeemed, destroyed, and
retired.
The act of January 14, 1875, repealed all provisions of
law limiting the aggrejiate amount of national-bank circulation,
and made it the duty of the Secretary of the Treasury to retire
legal-tender notes to the extent of eighty per cent of tbe sum of
the national bank notes thereafter issued, until the amount of
legal-tenders outstanding should be reduced to $300,000,000.
During the year ending November 1, 1876, $7,093,630 of
additional circulation has been Issued, of which amount $1,305,;
:
December
TUB CHRONICLEl
16, 1&76.]
140 was issued to thirty-six bsnks, havingr n capital of f3,189,were organized daring the year. Tlio whole amount
o( additional circulation issued since the passage of the act of
January 14, 1875, is $18,080,855 and legalten'ier notes equal to
eighty per cent thereof, or $14,464,284, have been retired, leaving $367,535,716 of these notes outstanding November 1, 1870.
During the year, $31,029,804 of national-bank notes have been
retired vviihout reissue; the actual decrease for the year being
$24,830,184, and the total decrease since January 14, 1875, beinjf
Within the same period, lawful money to the
$30,710,732.
amount of $28,179,285 has been deposited with the Treasurer to
redeem circulation, $25,301,231 of which have been deposited
by two hundred and thirty banks in operation, for the purpose of
retiring circulation, and $2,878,054 by banks in liquidation.
The amount previously deposited under the act of June 20, 1874,
800, wiiicli
;
$27,552,329, and by banks in liquidation $0,210,175; to which
added a balance of $3,813,075 remaining from deposits
made by liquidating banks prior to the passage of ttat act.
Deducting from the total of the sums named ($05,755,404) the
amount of circulating? notes redeemed and destroyed, and for
which no re-issue has been made, there remained in the bands of
the Treasurer on November 1, 1876, $20,010,940 of lawful money
applicable to the redemption and retirement of circulation.
The following table exhibits by States the issue and retirement of circulation during the year ending Nov. 1, 1870, and the
total amount issued and retired since June 20, 1874
wu
National bank note« outstanding when Act of June SO, 1874,
$M9,8M,ttl
p»Sfcd
National bauk notes Issued from Jane £0, li>74, to Jan.
14.18:6
(4,784,5CO
Natlonul bauK notes redeemed and retired between
«amedatee
»,7W,S«2
National bank notes increass from Jane «, 1274, to Jan.
Decrease from Jan.
Under act of Of liquidJane 20, '74. at'g banks
Total.
(! 1,455
(350,130
New
167,400
344,110
1,7(»,880
48,100
255,900
1,197,770
280,585
1,187,580
88,100
37,800
102,000
15,260
8,663
59,278
24,900
9,662
267,399
8,532,S«9
259,340
727,773
0,140,632
»«2,705
2,410,473
MatsachusettD.
Khode Inland
Connecticut.
..'.....
...
,
..
New York
New Jersey
Penneylvania
Delaware
Maryland
Diatrict of Colnmbia
Virginia
West Virginia
North Carolina
Moiilti Carolina
Georgia
""7,160
380,353
10,725
147,140
t>,2»0
15«),560
6,700
180,000
2T,000
'.
Alabama
"4.3,121'
192,826
3»<,145
100,040
354,400
298,065
165,839
74,»«2
231,486
198,727
744,611
109,227
42,093
398,862
223,701
127,010
Legal tender notes retired under Act of Jan. 1 4, 1878
Legal tcudtr notes outstanding November 1, 1816
(1 1,464, <M
397,535,118
Texatt
600
1?2,140
25,200
71,670
206,790
7,900
157,475
27,400
MiPBouri
Rate of
Obio
Indiana
II inolB
Michigan
WiecouBin
600
Iowa
81,000
102,500
»
Minnesota
Kansas
Nebraska...
130,259
98,838
102,443
809,688
320,:i4O
1,500,7W
132,951
1,921,390
779,033
271,457
670,861
347,339
42,257
5,850
429,25:j
Loan
Loan
54,0«0
'73',4i3
Utah
Idaho
46,763
"
Montana
Surrendered to this
iry. 1661 (81^)
antt Aug., '61 (8U)
.
,
Tcn-fortice of 1864. . .
Funded loan of 1881
Funded loan of 1891
Pacific liaiUvay bonds
!«,ioi
'3,270
124,392,255
(8,114,736
1865
.March
18«
July
.3.
do
do
..
'6-2,
(.3;i7,727i800
year ending
187B
Add totals from June 20, 1874,
to Nov. 1, 1875
Surrendered to this ofHce be-;
I,
$7,093,080
12,729,814
4,607,723
retirement
$37,122,009
The following table exhibits the total issue and retirement of
national bank circulation, and the deposit and retirement of
legal tender notes, monthly, during the year ending November 1,
1876, together with the total amount issued and retired since the
passage of the act of January 14, 1875:
National bank
Issued.
$
Hot., 1675
Dec, "
981,010
8}1,220
702,370
Jan., 1876
Feb, "
Mar., "
"
May.
"
"
829,38:
32i,W0
July,
•'
Aug.,
"
325,815
476,600
485,670
144,880
3)0,100
Sept.,
Oct.,
'
l,Wi,MO
Jane,
"
National bank notes
tbis office
and
cir-
1,108,780
967. 969
693,,iia9, 2,,006,950
l.'We!.723' 2 ,6S9,90(
14,
'
76, to
Nov.
1,
76
l.':4
Aggregate.
19 911,757
:6.275,117
Mar.
1,
May
1,
'75
'75
'
Oct.
'75
1.
5
17, '75
10, ';o
1;', ";6
'76
». "76
10,10-2,400
85,58!l.4i3
69*
12'
l.S,l:»,649 3i
15,091,4-22
M,8;5,757
23,065 302
83
25»
95»
93*
81*
l-2»
lB,9l8,,')re60»
18,64rt,1S3 99'"
19.414,'8916»
6,375,.'M7 37
1,310 091 05 12.41 1, 940 13,778,0,11 05
1.958,769 86 11,519,780 13,4"8.5 9 8H
1,344,960 S3 ]l,748,.1-.f0 13.088 250 93
1,442.097 7; 22,139.080 83 581,17711
13,S«i,60,) 14,V5,810 55
1.0a3,210.V
1,876,170 51
18,-i-.5,76
19,701,930 50
1,187,820 0s 5S.518.f40 -.4,186,460 09
S).45l.6«(i 2 ,984,942 10
1.6'iO S82 1<
1,842,525 (0 H,671.06O 1.'',5 4,185 00
1,291,786 51) 13,114,430 14,4 :6.i!66 58
1,443,215 4-2 14,4tO,9Ki| 15,854,155 42
1.084 555 54 10,H«-2,160i 11,706,710 51
9,30,105 7H
5,753,2
6,6»1,325 76
1,1183,015 80 1"2,64*,180 I3,tii5,'96 88
153.901 mi
4,-;oi,-20
4,95.5,12190
86l,43« 72 l.',5.'«,810 !.),102.i<6 72
3,201,131 .% 19,086,920 22,318,061 36
f32..tl8 70 15,181, 700 l«,01K,i 73 70
1,"214,5!9 92 18 872.780 18.081,312 91
1.189.814 84 13,44«.":iO 14.57«.874 84
(.3,.378,59(>
7,337,3-20
49 $13,C0:!.ns 38
i'9
29.626,150 *i
3,10 ,1 90 811
1.983.860 70
3, -297,816 31
11,457,842 69
11,507,060 75
S,,33J211 68
5,32I,::62 11
0,2-27,002 76
5,857,409 39
6 456.
4.8:13,532 18
3,317,240 33
(1,829,997 44
f^.559.94« 72
7,:87,475 47
4,812,154 98
09
3,»M,409 42
5,'269,:ir5 40
4.879,113 67
3.760,r5; 8!
4,%S.90:)0
9
.5,v8;,t;5S
7,-,0-,I07
8.679,4
08
13 4!-
9,94153215
18.455.090 48
23 00-^408 tZ
48,345.383 12
37,096,543 4-»
31.0!ia.437
78
18,46 ',0!1 47
86.3..7,251
y)
£5.709, 1t:6 64
82,1J;.027
19.9i<,955
13,852,928
29,595.299
S5 507.825
02
84,4:11,899
4C
14
79
56,^44
10.229,751
19 017.3:36
17.777,613
t«,-.
16
17
56
3S
2b
53
16S0«.'03 74
:'7,950,1 86 78
19,608.469 46
86,907.087 88
8-2,805.868
88
7,586,0-27 16
8'.5i.9,g«9««
6,812,022 i
6.832.078 67
6,582,605 02
2-2,,120,-.07
4.960,:i90
1
6:l
::,9J7,0a SM
5,2*4,.386 44
3,094,704 8:1
3.108.659 181
6.7-^9 -<94
49
.\8''8,5;0t;6
1,131,107 001
6.785.079 69
»7
21,841,915 83
22.4.-16.761
-,667.106
10,620.361
18.939,538
8.0MI,320
17.070,908
94
17
64
80
73
90
8b
81,7:4,694 36
25, -218, 409 92
S9,077.')4S
2I,3il.t;54(3
The amount
of specie held by the national tanks daring the
past year is more than one third greater than lor coriesponding
dates of the previous year. The amount of silver coin held by
18.08'',365 49.191,087 60,89 S.892 14,104,284
The following summary
exhibits concisely the operations ol
the acts of June 20, 1874, and of January 14, 1875, down to
November 1, of the present year;
'74
'14
31. '74,
June 33,
8.76-3,7.56
13,099,72(1
:i.412.l60
5,451,580
JnneSO,
May
2.98-.!,155 61
2,047,930 71
12,311,060
Dec.
Oct.
iO,08O,-;4'*
7. 533.800
l,t9J,4l7 70
bl9,!-64
Dec.
Mar.
14,063,510
l.S-iS.OSS 74
3,71-2.9 9 fi4
92i).767 37
9-9.0«
5,:00,'2S
2-2.:67,2-2«
'12
,251,60-,
7,093,630 31,929,804 28.1:9,285
18,6609.0
'72
"72
.776,086
4,432,^83
36,888,141 C.3»
2,9)2 400 24
1,607,742 91
3,868.681 9b
6,196,' 3ii 29
2,647,91 8
ir,.S5t,7.0
JuneS6,
Oct S,
Circulation issacd and retired from
Jan. 14, 1876, to Nov. 1, 18:5
10,986,6:6 l7,i6I,S88
Legal tenders deposited from Jan. 14,
1OT5, to Nov. 1, 1375
«-?,719,607
Legal te. ders retired fr.m Jan. 14,
_1875, to Nov. 1, 18:5
Totals from Jan,
1 3.056
S81,6.4
111.704 .589 4<J»
],45t,»:vfl73
4C4.2l)8
.351.K84
May
16.897,9)0
28,501.400
21,872 4fti
2,5I2,,533 90
1,79-2,740 73
2 249,4CJ9 06
1.121.889 40
'73
'.3
"73
";4
18i,H4
6,S42,441 85*
15,471,v2n 78*
16, '71
Dec. 26,
Feb. 27,
,001,6
,036,69'.
.612,64.-
$6,390,140 (9,625,116 90
18,O;8,.5-20 22.389,429 97»
'n
».
2i7,372
],0»,.117,
Total.
3,7-iO,040
11,96.3.080
1,652 5:5 21
9,845.030
9,161.1(0
7,59J.260
'7)
'73
Burrendercd
retired
'71
'71
'71
28.
85,
Juno 13,
ticpt.l2,
2,0S7,,421
4,741,,74'
2,-31,
4,031,
2.130,
2,201,
,1:j7,«8(i
'70
Feb.
Apr.
t54,ll80
329,748
,2-2,83)
8, ';o
Oct. 3, '2
Deo, 27, '72
704,472
644.551
1,919,
56,23.
1.853,,549l 5,,i«14,0r,
(
48
Apr.
Feb. 27,
Apr. 19,
JnnelO,
$
J,,284,079
'24
l,90->,ro9
17. "69.
12. '69.
Oct.
Dec.
Retired. -Dep'sit'd Retired
$
$1,698,623
4, '69
Dec. 28,
Mar. 18,
Apr. S9,
JnnelO.
notes.
$
5. '68
Oct.
Legdl tender
latlou.
Moutb.
Oct.
Jan.
June
Oct
9. 69
J m. 52 '70
Mar. S4. ';o
June 9. "70
151,958,319
t7,?23,449
Held by
other national banks.
8. coin
cirtifi-
cates.
2,690,918
from June 20, '74,to Nov.l,'70 $22,814,855
April,
U.
17,337,537
twecn same dates
Total iBSu'es and
Dates.
$31,920,864
Coin.
15,7121,176
88.950,800
134,651.40*
10.30S,eO»
9,851,000
do
do
4J4 perct
&July2,'64 6 per Cent
Held by national banks in N. Y. City.
Nov.
i.MlfiJO
5 per cent
& Jan.S0.'71
(including $9,851,000 issued to the Pacific Railroad), $323,602,700
of five percent, and $10,305,800 of four and a half per cent bonds.
Since October 1, lb70, there has been a decrease of six per
cenibondp, amounting to $143,097,000, and an increase of five per
cents of $127,686,150.
During the year ending November 1
there has been a decrease of $24,783,012 of six per cent, and a
decrease of $15,443,500 of five per ceut bonds.
During the last
two montlip, $10,305,800 of four and a half per cent bonds' have
been'Bepositcd, of which $3,409,0,50 were deposited in exchange
for six per cent bonds, and $5,357,500 in exchange for five per
cent bonds.
SPECIE, PAPER CURRENCY, AND BANK CHECKS.
The table below exhibits the amount of specie held by the
national banks at the dates of their reports for the last eight
year!*; the coin,' coin certificates, and checks payable in coin held
by the New York City banks being stated separately
retired
Totals for the
4,018,50$
6,05O,ll«
9,471,000
do
do
do
14, '70,
Julyl,
$3,061,000
45.U7,4II«
23.606,780
do
do
5, 1861
lune 30,1864
March 3,
do
do
do
Amount.
6 per cent
Total.
"
"
February 8. 1861
July 17 and Aug.
March 3, 1863
interest.
These securities consist of $103,819,300 of six per cent bonds
and
office
Febm
of
( f July
Ixianof Ib03(8l8)
Five-twenties of June, 1861.
Five-twintiCB of 1865
Consols f 1865
Consols of 1867
Consols (,f 1868..
50,804
117,104
150,601
54,960
110,327
11,180
1,565
28,4S4
43,008
Nevada
Colorado
Authorizing Act
Class of bonds.
925
],02O,14;3
1,
banks:
406
ArkaneaB
Ktnlucky
TenncBBte
Novembtr
$10,910,948
53,610
150
Mie&lstippI
LOQiBiaua
61,941.788
1878
.
,567,-);'8
$8,819,876
SECURITY OK CIIICULATIKO NOTEB.
The following table exhibits the kinds aad amounts of United
States bonds held by the Treasurer on the let day of November,
1876, to secure the redemption of the circulating notes of nationkl
(329,800
Vermont
$321.1i)0,7tg
44,844,UA
Legal tender notes on deposit
Maine
llampehirc
$80,710,784
1875
1,
NatlonalbanknotosoatstsndincNoTember 1,1876
relesuc
Circulation Retired.
Circulation
i««ued.
TerritorjCB.
November
14, 1818, to
7S1,087
,080,856
TotaldeposUe
(«5,7S6,4e4
Circulation redeemed by Treasurer between same dates, wltboot
:
and
%
Total redeemed and snrrcndered
National bank notes issued between same dates
QrccnbarkK on deposit In the Treasury, June 20, 1874, to retire
noten 01 insulvijut and liiiuidatiDg banks
Oreenbacks deposited from June il), 1814, to November 1, 1078, to
retire national bank notes
to be
StMn
l.S<7,2«S
14, 187b.
National bank notss outsUndlr.g Jan. 14, 1875
$SU,Btl,4A&
Nnilonulbaiik notes redeemed and relired from Jan.
14, 187S, to date
(42,017,188
National bank notes surrendered between same dates.
6.713,801
was
is
689
I
'
•
In these totals^ls also hiclodcd the amcnnt cf checlit payabl* in coin held
at these dates.
.
1
'
THE CHBONICLE
690
3, 1876. was $1,627,568 and
respectively.
In my last annual report a statement was given, from estimates
made by tlio Director of tlie Mint, sUow'mg ibat the probable
amount of coin and bullion in the country on June 30, 1875, was
$142,000,000, of which amount about twelve lo fif'.een millions
Assuming this estiof dollars was in silver co;n and bullion.
mate to have been pubstantially correct, the movement of coin
and bullion for the year enciing June 30, 1876, and the amount
in the country at the end of that year, is shewn from estimates
again furnished by the Director of the Mint to be as follows:
Katimated anrnnnt of coin and bullion In Iho country June 30. '15. tH-l.CC.OflO
Kstimatcd pr duct of the mines tot the year
86.2 0,030
15.93i,O00
Importations fur the year
the bunks on June 30 and October
f 3.6.»7.5i)0,
Total
$243,181,000
Deduct exports
ol coin
and bnllion for the year
DO.'^O'i.OOO
Total estimated amount of coin a::d bullion in the country
$186.6';8,000
June SO. Ib7t)
Director stales in bis estimate that the amount of gi'ld
and silver consumed in the arts and manufactures during the
year was probably $5,000,000, which, deducted from the total
estimated amount, gives $181,678,000 as the probable amount of
gold and silver coin and bullion in the country on June 80, 1876,
aijout $30,113,000 of which consisted of silver coin and bullion.
Tliese estimates show that during the year there has been a
probabte increase of $31,565,000 of gold coin and bullion, and
^18,113,000 of silver coin and bullion; or a total increase of
$39,678,000 over the amounts estimated to have been in the
The
country on June 30, 1875.
The Secretary of the Treasury, in his report for 1867, says that
the public debt reached its maximum on August 31, 1865, when
it amounted to $2,845,907,626, compo-ed as follows:
Ponded debt
llatarcd debt
Temporary loans
Certificates of debt
yive percent legal tender notes
^
Compound interoBt legal tendvr notes
Sevon-thirty notes
United States nntes (legal tenders)
Fractiooiil currency
Saepended requisitions uncalled f r
$1.109,5"8,19J
1.^01.020
107.148,713
85,093.000
33,951,830
217,0-24,110
830,000,OOi)
433,160,569
—
26,g44,T4;S
2.111,600
Of these obligations, $684,138,959 were a legal tender iu the
payment of all debts, public and private, except custom duties
and interest on the public debt.
Tke amounts of legal tender notes, Jemand notes, fractional
currency, and national bank notes outstanding on August 31,
1885. and annually thereafter, from January 1, 1866, to January
1, 1876, and the amounts outstanding November 1, 1876, are
elioWQ by the following table.
Notes of
national
United States Issues.
Date.
August 31,
January i,
January 1,
January 1.
January
1,
.Tauuary
1,
January
January
January
January
January
Januarr
1,
1,
1,
1,
1,
.
NoTcmbcr
L
Legal
tender
Old
..
,
dem'dP^'ast oal
notes.
notes. I'^""'ncy
$
$
Totals.
1
banks, in- Aggregate
eluding
gold b'ks.
$
»
1865.. 438.757,604 40?,9fi5 26.314,742 459.5i'5 311 176.2l3,!>-5 63\V19,S6«
4i5,83:),:;i9 .3»i,i 70i28,a) 1,43 452,2:11.801' 2 8,588.419 750.820,328
1867., 38;).276.iai 221,082128 7:J2 812!4(V4.230.B54 8!)H,8I6.2.I6 709,076.860
1868. 356.11(10,0(10 15:i.l27':«.5'i7.5.S;j'3a7.75«,7HI 2')!',T47,56 887,504 279
1869.. 3oo,8-2,!t75 128.119.8,34.215 n5i3W),2;i<).788 8.!»,62:).3a2 689,866.110
1870. 356,000,000 113,09a;:39.762,«>4i895.S75,762 899.904,029 695,779,791
1871.. .356,(100,000 101,086|>39,990,089l396,096.175 .306,307,672 702,403,847
1872.. 367.500,000! 92.801 4O,787,877:39S,:j0O,678 328,465,431 726,826,109
1873.. 358.557,9071 84..387'45,?a2,06l!404.364.;J55 344,582,812;748,947.167
1874.. 378,401.708, 7fl,6.'i7!48.544,79a'427,02«,1.31 .350,848,236'777,874.:367
1875.. 382,000,000 72,317'46.390,5W8 428,4t>2.915 354.128.250,782,591.105
1876.. 371.aa7.aS01 89,64244,147,072 416,Ol.3.9»4l346;479;756'762:52.3!(396
1, 1876 367,535,716' 6.'i,698la8,5o5,478'896,15«,886!:S3,a41,308 718,998,194
l.sfiti.
.
!
I
.
.
The exchanges
house in New York for the year
1876, as olitained through the courtesy of W.
A. Camp, manager of the New York Clearing House, were more
than $31,(;00,000,000;
the average daily exchanges being
$70,349,428, while tlie average daily balances paid in money
were but $4,218,378, or only six per cent of the amount of the
settUments. The following table exhibits the transactions of
the Clearing House of that city, and the amount and ratio of
currency re(iuired for the payment of daily balances, for the
jroars ending iu October, from 1854 to 1876, inclusive:
rHACTACT10N8 OF TnK MBW TOHK OLIIARINO HOnSB FKOM 1854 TO 1876.
ending October
Y(jar6
at the Cltaring
1,
* Capital.
Bxcbanges.
Bala' CCS
paid in
money.
Average
d'lily
exchaiigca
Averitjt
daily
balances
paid in
money.
«
[December 16, 1876.
THE COINAGE ACT OF 1873.
act of June 38, 1834, which reduced the gold standard
about six and one-fourth per cent, practically demonetized the
silver coinage.
Previous to the date of the passage of that act
American gold and silver coins of all denominations were
equally a legal tender, and the silver coins of loss denorainatioti
than one dollar were chiefly in use, only $1,369,517 in silver
dollars having been issued from tlie Mint at that date.
The act
The
of 1831 overvalued the gold coinage, driving from the country
the full- weight silver coins previously in circulation; and it
may be confidently stated that from 1834 to 1873 no silver (ioUar
pieces have been presented at any Custom House in payment of
duties.
The entire customs duties of the country during this
period were, with the exception of silver used iu change, paid in
gold coin, and from this fund the interest paid upoa the public
debt has been chiefly derived.* It is not ijrobable that in the
last forty years one of these silver dollar pieces has been used in
this country in the payment of debt, except in certain cases of
special contract, while thousands of millions in gold coin have
been used to liquidate debts, both public and private. The
average amount in silver dollar pieces annually coined during
these forty years has been about $160,000. The coin did not
pass into circulation, but was chiefly used as a convenient portion
of silver in the laboratory of the metallurgist, or was hoarded
as an object of curiosity.
During the three years previous to
the passage of the act of 1873 it had, however, come to be used
for shipment to China and Japan, as a trade-dollar, which fact
will account for the increased coinage of those years, amounting
in the aggregate to about $3,600,000.
Hamilton, in his Mint Keport in 1791, proposed " one gold
piece equal in weight and value to ten unit.s, or dollars; one gold
piece equal to the t-^nth part of the former, and which shall be a
unit or dollar; one silver piece, which shall also bo a unit or dollar;" and says that " the smaller of the two gold coins may be
called the dollar or unit, in common with the silver piece with,
which it coincides."
From 1793 the date of the first ieaue of silver coin by the
United States to 1834, the silver and the gold dollar were "alike
authorized to be received as legal tender in payment of debt,
but silver alone circulated. Sulj?equeutly, however, silver was
not used, except in fractional payments, or, since 1863, as a subsidiary coin.
The silver dollar, as a coin of circulation, had
become obselete and useless. The reason wl\y, prior t» 1834,
payments were made exclusively in silver, and subsequently to
that date in gold, is found in the fact that prior to the legislation
of 1634 the weight of fiiie silver in the silver dollar was fixed at
fifteen times the weight of tine gold in the gold dollar; but after
that date, owing to a reduction in the weight of gold required
for the standard gold dollar, the silver dollar was made to
contain of fine metal almost precisely sixteen times that
of the new gold dollar, the actual market value of gold
during the entire period having been greater than fifteen
and less than sixteen times the value of eilver of equal weight.
During the earlier period, therefore, the standard silver coiins
were relatively the ch'.-aper, and consequently circulated to the
exclusion of the gold; while during the later period the standard gold coins were the cheaper, circulating to the exclusion of
the silver.
The Report of the Deputy Comptroller of the Currency, transmitted to Congress in 1870 by the Secretary, three times distinctly stated tliat the bill accompanying it proposed to discontinue the issue ol the silver dollar piece. Various experts, to
whom it had been subm'tted, approved this feature of the bill.
The House was informed by its members of this provision, and
the bill was printed thirteen times by order of Congress, and
once by the Commissioners revising the statutes, and was considered during five successive sessions.
If the question of th»
double standard did not become prominent in the discussion upon
the bill, it was for the reason that usage had established the
gold dollar as the unit, the silver dollar, on account of its
greater relative value, having, with the Mexican dollar and pistareen disappe.ired from the circulation of the country.
Ti o
coinage act of 1873 and the Revised Statutes of 1874 simply registhe
lorm
a
tered in
of
statute what had been really the unwntten
law of the land for forty years.
The Director of the l\tiut, in his report for the present y<!ar, ta
discussing the proposition to authorize the coinage of the legal
tender silver dcklar, says:
—
—
The
decliho in the value of silver and the approach of tho time fixed by
for gpecio resnmption has ied to a proposition for thj restoration of the
silver dollar of 41i>i Krains, with unrestricted coinage and unlimUed Ii gal
law
$47,044,900
48,8'«.180
52,883,700
|;5,750,455,987|
5,:l«2,918,098
6,<I)6,218;j28l
t>-l,420,300
8,:«3,8a6,718
4,756,664.386!
o.+is.oos.gse
67.146,018
67,921,714
69,907,4;«
68,«00,6()5
68,:j75,8ao
5,915,742,758
S53.:»!.944
6,871,44.3,591
415.S50.:3:3I
82,370,8.10
28,717,148 914
81,770.800
88,270,200
82,720,200
83.620.200
84,420.200
!W,()75,159,472
2«,'1HI,288,637|
37,407.(«28,987,
81,6.35,200
80,4:i5,300
78,435,200
363.984,«C5
380.693,4.38
84,097,196,6.5(i!
83,370,200
314,3.38,911
7,231,14:3.057,
68.W2..508
68,586,763
80,863,013
&J.420,2flO
8397,411,494 tl9.lO4.505
889,094,137
17,413,053
3:34,714.489
28,278,108
365,313,902
28,968,.371
14,867,597,819
20,0:38,384,»18
87,8 4,539,406
29,:l00,986,688
32.8:36,997.4(M
a3,972.rr3,!>i3
30.8.50.681,963
a),012,276,838
21,597,274,«7
6T7,68().4,S;i
885,719.805
1,0.35,765,108
1,066,1.35.106
l,144,"6.3,4jl
l,ia"),4.55,3:37
1,180,318,308
1,<J.38.484.822
1,209,721.089
1,313,393.827
108
1,1.58.;372
971,8:31.381
1.101.a48.»t5
1,395,048.039
p. c
$988,078 5-2
940,565
1.079,724
1,182,246
15,393,730 1,016,954
20,867.333 1.177,944
33,401.757 1.833,018
19,209.580 1.151.088
22,887,683 1.314,758
48,438,668 2.207,253
77.984,4,55 2,868,405
84.796,040 3,373,828
9:3.541.195 3,472,753
03.101.167l 3,717,414
92,188.164; 3643,250
181, 451, .393 3,637,.397
90.874,479 3.3()5,210
95,13.3,0741 3,937.666
105,964,2771 3 939.888
111023,137 3.765,988
68. 139,48-4 3 173,958,
75.301,558 3,Bri8.977
70.349,428 4.318,.378
„„
t78.9»t,521 }4.35, 062, 141.839 tW.15:3,440,168 t61,501,460 ta,56 534' 4 -8
«,
• The capital stock is dated at varioui, dates, the amount
at a uniform date
each year not being attainable.
t Yearly averages for twenty-three years,
t Totals for twenty tliree ye»rs.
m
tender. This proposttiun, if adoptid. would make the relative va'ue of gold
to silver in the coinage as 1 to 15.9884, or very nearly 1 to 16. A dollar of
412 8 craits, which woiild correspond exactly to the relation of I to 16, and
one based on tho ratio of I ^o ISi^, have alro twen proposed.
In the discussiou of some of these propositions, it has been intimated, if
not directly charged, that the repeal by the coina^^e act of 18l:i of what may
properly be termed the remnnnt of the silver Btan'dard left by the demoneiiz*
nig legi-Iatiou of lr<53, waa done witiiout due consideration, or in the interest
of certain crediiors of the United .States and to in^nre payment of the latter
in gold coin. An examination of the public records will show that the ciacussion and consideration of the act referred to coveren a period of mora
than two years, that the:c was no «oncealment as to any of its provisions,
and that nil proper cere was exercised to render tlie meflsure aa perfect as
possible. Th' Director was frequently consulted iu relation to the various
provisions of tlu: aci. from its Iniipiency to its flual p iss.ige, and he is able
to state that, from llrst to last, there was no desire or eflort on the part of any
* Previous to the act of August 30, 1842, the duties accruing on all entries
of mcrehaiidisc, the sum of whicii amounted to fifiy dollars or more, wera
psyable in the bonds of iraportcrs, with sureties approved by tbeColiecto*.
These bouds were coliectcd at maturity by the banks in which the collector
deposited thcra. iu coin or the notes of specie-paying banks. Tho act of
July ), 1810. p.ovided that after June SO, 181:3, a 1 leccipts and disbursements
*.f (ho United :^ tales should lie iu gold and silver on y ; but the Sub-Treasury
act of Angus 16, 1816. provided that piy men ts might be made iu gold and silver
coin, or iu Treasury notes. The act of Feliruary 55. 1882, iuthorii! d the
issue of legal tender notes, making them receivable in payment of all debts,
public and private, except duties on imparts and interest on the public debt.
:
December
r.
.
,
THE CHRONICLE
16, 1676,]
to fRvor either debtors or credit<»re, or to 'lo ftnytUii-g other thttu whitt they )»elieved to be, froai tlio beet of (heir knowled;;i-,
<-atirely la the intereels of the pubhc service aud of the pi-ople of th€ country
at Ift-go.
The original drauL-ttt of the bill roviMiiR the laws rel ilivo to the mints,
aasay otUras, and coinage of the Unl.cd States wai i.-cpared in iSoU and 18;o,
691
oiw advocating the rteapurc
Amount
States and
Virginia
reso'ution of the Hotiae of iteprertontalives.
llie report of Mr. Knox, wlii'h uccompanled the bill, explained In dotal!
the propcsed aniendments. anil referred nfKcificiMi/ lo the silver dollar ami lt>
dUconlinuanee ag a standard. I'he bill, after diHcuaeiou. pasaed the Senate
January 10, 1^:71, and on the i7th of Mryof the f( llowlnu year. 187i, pasfcd
llavlnj>; been amended by tno Houee, it was
t!»e House of Kepresentatives.
rututned to the Beuale, and p'issed that body Junuari IT, 1813. It next came
before » conference committee of ihe two houfo.-i, and subaiqueutly, February 18, 13!3, became a law, nia'ly three years after Its ir.troduction In the
Henato. It appears from the officii I dccuments thnt only one or iwo <<f the
iiumerous exports who examined the bill recommended the retention of ihe
eilrer dollar, and that not a single member of C'onuress in debate opposed its
Florida
Alah-nma
!S
mth
Carullna.
or,;la
()
New
Ohio
4,s5^^
IS 6*8 l^M
11 ."7) 803
These statemeDta need no corroboration. If the provisions of
the bill were not vrell understood, it was certainly not the fault
of its advocates, but rather of those who neglected to give the
subject attention. A note to a speech of lion. A. S. Hewitt, of
New Vork, taken from the Congressionai Record o( August 23
of the present year, will be found in the appendix.
This
extract oantains a true history of the act, as shown by the
records of the Treasury Department and of Congress, and ia a
complete refutation of the charge frequently and persistently
made that the bill was passed surreptitiously and without con-
Chicago
Michigan
Detwit
Wisconain
Milwaukee
Miuncuota
aidoration.
New Mexico
1(M5
r33,»47
S,1»6.78S
2,86S;03«
8,948,»*3
8 957,410
2,949,744
a,9b7,oai
0,193.570
was.
law.
1888
»»
MTO
,
l«t
1872
«T8
50
30
78
07
-.S
03
liCT
S,358,lHli 13
8,4;:4.4«a 11
3,888,41 5 89
iy»
3,091,795 7S
S,a 9,987 78
3.514,310 30
3,550,189 64
18
S33.fl'9.8M 84
1874.
Totals
«83,528
7.18
8aint Loui.'....
Kansas
Nebraska.
Idaho
Montana
Amount
of taxes.
I
State.
Total,
»9,T90,in4 $118,655
5,183,5!4
61,0 rtl
8,216,107
89.30OJ
43,06 i,:~74 491,157
61,03,4.->1
701,V13
New Hampshire.
Vermont
Uasascbueetts
Biston
Illi
>de lalnnd
Connecticut
New York
New York
$167,310 45
Albany
Xew Jersey
1
8-0
1
S6
1
85.-5.',!:Sl
27;,9b4
4 5,6-0
52'i,l04
6i,i«ii,5;o 1,370,541
6 1,815
•2,0S.-<,46.'
2,09i.l4i
71,740
1J,OJV,5:0
90,',«.'8
30
4;l,l!41
71;',664
1,4'«,7^6
3,46).0<1
1.1!,!IM
9
1-3
1-5
1 7
8-7
1
1
30
31
3
1-5
1-4
3 6
Pennsylvania
29,65o,'.)':t4
41n.92.'<
1
;5,r59
50l,45535,98'
Phi'adelpUb,..,
Pittsburgh
UclawTire
l:,l:l!),i!3:l
S4o,!l50
141.51.1
128.11 90
•17C,I'46
2
50.346
7,958
197,; 91
.')l,:i55
61,8;:-
830,888
8lO,:t-l
1-4
1-5
1-3
1-3
,
Marytat d
Usitimore
10.05!',l)41
1,5*1,185
8,v8-',i38
11.469,855
Ui'. of Cohimbl-i.
Washington
•Tiieamonnt
.
8.58.000
1.8;».66l'
808.559
58,0;
E0,40S|
150,00)
4,5.%1
10,905!
P.c.
3-8
11
).10.'
I
894
29.9
:6'>
'•
4.81
:j,402
50..?6-.
8
1
0-6
0-8
0-5
0-5
capital
,
cIrcnIatiOB
» Of this amount. $7,C8i
oMothonisod circulation.
was derived from
tlie
168.' 8)
700,44)
11
46'.8-.i4
1
a«80:i0
83
83
85
86-2,60
1
2
8
17
IS
SB
108.740
1-6
1-9
19.-^9
86.49-J
83
8-4)
3-5
5-3
1-4
8*
3
8.1
24)
8«B
12
2-fl
4 8
3-2
8 3
4-6
4 5
3 5
18
68,07!
1
161,6
9:1,730
186, 0»8
8:i0 ',fA
16
1-M.8S
1
5,651
8.9;>7
8,091
26-1,519
17,188
85,760
r.478
44,711
6.(S8
3.796
10,184
8,572
1.048
17,1'ti
55,780
4,828
8.880
18,9W
!H714
3.478
2,660
8,867
9,137
3.528
1,429
8,049
748
9J0
1
1
8
1
8
38
4-6
84
38
89
4-8
81
8-»
48
1-8
1
18
14
11
a-6
1
83
12
13
1-4
84
84
36
38
20
3-6
8-8
4-8
4-4
2
1-6
1-5
8
33
30
85
1
1-5
5ra,0S7.911 7.817,5.31 10,'.'i8,182 17..37S.653
—
U.S.
19
2 9
48
Ohio
1-5
1-4
1
ininoi*
W'ifconain
Kan(>as
1-8
1-8
Nyhraska
South Carolina.
Tennessee
20
2
2
8
8
8
3
3
8 6
3-6
Indiana
...
1
8
5
1
8
6
3
U.lS.
1-8
1 5
4-0
4-1
1-8
1-7
3
3
48
53
1 4
2 8
4-7
3 7
1-1
36
1-5
8-8
Total.
8-9
21
84
89
84
14
18
38
3
11
State.
8
%l
43
38
1
3 2
4
4-5
23
34
28
1-4
45
87
Kates of (axatloo.
U.S.
Bi>ston
1
Total.
Stjite.
4
19
3-3
5
3
Piilladolphia.
2
Pitlsborgh...
14
1-3
P.c.
Baltimore
Wa^hillcton.
New- Orleans,
Louisy He
:v4
3 II
Cincinnati...
CI -veland ...
2
SO
08
06
80
03
03
»5
20
1-1
2 3
2 3
25
n
48
13
3
New York
.
.
1
31
3 3
2 3
8-8
4-2
4
1-6
13
Chicago
3 3
1-8
Milwaukee..
St. Louis
2 3
3
1-2
28
83
St.
Paul
1
3
The following table gives the amount and ratio
30 State and national taxation for the j cars 1874 and
30 graphical divisions:
3 8
1 9
3
J5,67S,164 97
..
1.410..5S5 .S9
tax of 10 per cent upon
1
6 6
28
1 5
33
17
IB
li-8
1
53
40
S5
to capital of
1875, by geo-
1874.
Amount
Geograph'l dlTisions.
1-9
1-7
..
1
Detroit
5 1
0-0
3 3
3
oiai.
20
8-0
4
1.873.
J
3
8 7
1
State.
The unequal rates ef taxation are exhibited in the following
table, whicii gives the percentages of national and State taxation in the principal cities of the country for the year 187Q.
Katlos to
of taxes.
Capital.
Capital.*
U.S.
2
S
Total.
State.
rr"
I
New Eng'and States.
Middle Stitea
$
.
S^nuth*-rn States
West'n States
i Ter'
United Sta'es
$4,016,698 03
15
101.878
4.0,8.6
27I.S;G
lH8,5t4
148,993
24.7+1
66.156
.50,000
50.0'.0
New York
New Jersey
•17,947 67
Total
80
"
1874.
by the Commiraion-.r of Internal KoveF.ue from
SUte banR?, 'avings bank?, and private banks and bankers, du;ring the fiscal
year ending June 30, 1S76, was as follows
On
On
\n.
1-4
ool ecled
Oadepos'ta
lUO.It.i
2 4
2
2 8
2-6
Albany
1-4
1-8
1
4
1
2 2
8 3
States.
1-4
-.01,639
601,881
4:),96«
$73,858,071 96
18
1
5
(V4
Ratios lo capital.
1
6
6.S,44
7047
17
23
11
1-3
81.f,8^
183.000
9-8
1 4
8'2,877
38 1,000
t-B
3«
17
18
l!5,7l,fc
11
a-i,9fll
..
08
:
94
1
10
75,136
7,289,281 66
1GU.044
E58,4':4
865,198; 1,S56,:'55
!0r,W3 1,60 ',501
101.930
4
5,a-:i
—
btates. State. Total.
$-328,6:33
1
1
8
10
13
Similar returns for the year 1874 were la.st year received and
tabulated in this office, and in a previous year tables wore prepared, giving the amount and rate of taxation by Slates for the
Tears 1867 and 18G9, which tables will be found in the appendix;
itetums were also received from the national banks in 1866, but
were not tabulated by States. The United States taxes for the
year last mentioned were $8,069,086, and the State taxes were
1,951.089 60
81
21
1-9
8 8
50,54->..t.3.!
«5,4n,'33
City
?2t5.98!
103,919
2
1
NoTi.— The capital of the banks that jald State, county, and municipal
taxes on stock and real estate is $493,738,408. UaLk^ In Oailforola pay no
taxes on capital stock.
5 1 J6,f35
5,84 ',698
5,817,861
5.884,883
7,:«j5.134
P.c.
Maine
1-7
1.583,8-it
y 4 :58
Dakota
Uuned
Uiiitta
mates.
1
« 3 0.300
5,9411,474
3-«,298 13
389 350 27
451,891,51
409,048 02
507,417 7f
,^|||390 16
KH^.SIS
l,tl(
4'.0««
69,184
IS
4B
tr
8-8
ai
e
1
1
93.461
177.461
45.548
Wyoming
Total
34
81:i
1
117,0f8
01,302
800,131
:io,:i01
1 558.082
2,"17,118
800,000
"23,478
300,000
100,000
Utah
:
Ter- Capital.
.
Or.ffon
California
San Prarclsou.
$4,060,333 59.
The Comptroller, in reply to a circular letter addressed by him
to the national banks, requesiing them to report the amount of
State taxation paid by them for the year 1870, has received retttms from two thousand and eighteen banks, having a capital
of $493,738,408. The returns made to the Treasurer for the
game year, under the provisions of the statute before mentioned,
liave been classified in this office by States, atd the following
table has been prepared, showing the amount of United States
and States taxes, and the rate of taxation, in every State and
principal city of the Union for that year
ritories.
«,f,07
1 ,4
'•,74* 1<'9
II
18.8M
47,584
16 808
00,781
104,007
0,000
l.'W'.O 8
.
Iowa
Section 5,173 of the Revised Statutes provides that the
oxpenses of this office shall be paid out of the proceeds of the
taxo8 or dnties assessed and collected on the circulation of the
Dational banks.
The amount of tax paid upon circulation from
the organization of the system to July 1, 1876, is |33,928,703 18,
while the whole expenses of the bureau for the samn period, together with the cost of prictiDg the notes, have been but
States and
.
14
111507
J6
33.-Sal
:•
OS.tl'
7
1-8
3
18 r 17,949.451; total, $16,019,389.
99
00
The rates of taxation national. Stale, and total upon national
0,175,154 07
bank capital in tliose States in which tho taxation has been
6,70;i,910 67
7,' (M (MO 9:j
highest will be found, from the tables for 1874 and 1875, to have
7,083,41)8 85
been as follows
,375,9B8 36
3,196,51:9 »9
I
«:i.757
5 8.8 ;o
'03,000
.,li-.t.65l
Missouri
A(rgreKate.
30«,78J 07
313,918 68
M
13
09
capital.
$18,408 83
133 851 15
c4C«,M7 74
321,*81 30
195.811 85
1.037 58'! 86
8 033,1(B 77
2,i5ij,i8o or
3,5i:-4,143 44
2,614.558 58
2,614,707
3,8 «,840 85
:1.120,9m 37
:
t-
Colorado
On
On, deposits.
$58.<W 97
80,198
51,011
<89,'Ce
186,188
17l,5«6
106,676
Ceveland
Indiana
1
1,KC
4000C0O
ClncinnatL
66S.7
74
P.e.
c.
20
184 84?
88,804
«,870
20,844
8.8'«
78,4-n
S»«,MOI'
P
P.c.
t 5
•.0,:i0
854
111,110,898
^.^esls'ate.jToUI.
30,108
34.584
10 ,700
46,790
18,805
:.46a,9»2
7,801,765
3,868.000
Louisville
Illinois...
On circuiatioD.
29,088
SOSOOi
Kentucky
Section 5,314 of the
provir?ea that the
n»tional banks shall pay to the Treasurer the following taxes:
per cent annually upon the average amount of notes Vi circutotion, and one half of one per cent annually upon the average
amount of deposits, and upon the average amountof capital stock
Dot Invested in United States bonds.
The following table exhibits the s mount of United Stated
taxes* collected from the national banks annually, Irom the
organization of the system (1863) to July 1, 1875; which amount
has been collected without any expense whatever to the Qovernment, except the compiling of the returns iu the Treasury:
.•:4,74'
15,819
1.9Ht
4T.S4I
80.711
46,012
Aricansas
Tei/nessee
One
31 408
8.185,000
8,710, 9r4
50.«X)
1,0)8,806
3,700,
1.206, S5J
Texas
TAXATION.
Revised Statutes
8,'.!38.1.50
Halloa of fnpllal.
Total
State.
na
.5-1.
W
Orleans..
abandonment.
Year.
3,530.719
1,971,000
A'est Virginia...
North Carolina..
nf Taxes.
United
States.
under <hu Bupervlxion or iho then dei>uty and now Comptroller of th'j <-'mrencjr, and »u« truntmittcd to the Scnalc by the Secc'ary of the Treasury,
April 15, 1810 (the viewa and crtticlKraa cf the Mint and Trenfurjr cfflccrs and
other gcLllenien conversant with niL-t>Ulur^ical and c ioai^e subjjcia having
boon previonsly requested), received, and published, in eompliaiice with a
tSM
Capital.
Ter-
ritorlea.
I
*
031
The
;
$
(
$
fP.C.
4.877 017
7,230.796
904,338
3,8 8.864
160.S17.8C0l 1.890 533
190.108 129i3,.385.486
4.30 540
a3,558,483
109,513,801 1,597,585
8,'.;8o.i*i
493 751 .0791 7.26rt,rKJ
9.630.38H 10 876.4'^S
capital of the banks
iu 1875 it was $493,738,4'
3.911..-J71
517.792
2 210,079
which reported State taxes
8.
in 1374
12
r
1
1-8 3-0
1
3-8
1-5
38
8
-4
1 3|
1-5-
was
.8
3 5
0' 3*5
01
$47^.836.
«
...
:
.
—
fHE CHRONICLE.
592
LDecembcr 16, 1876^1
169 82, and in the second period $13,217,856 60,
1876.
making
a total
f 19,719,0,'6 42. The amount charged off by the New York
City banks during the year was $6,873,759 97, by the Boston
banks |1,598,722 68, by the Pittsburgh banks $383,851 58, by
the Baltimore banks $876,307 33, and by the New Orleans banks
of
McwSpirland SUtes.. 164.816 333
1«3,585 507 3,3 «l,4'
Hidi-lcSlKtes
«5,0-»8
S4 48S.483
Southern Rtatei
I,98i'.ri6
WetfD EtaMB A
Ttt'i
111,3^0,588 1.6&l,6t)»
United States
7,317,531
503,687,911
30
88
2 1'8
1-7 2 1
4 062,459
4,953.553
7,862,957
476.236
2,502,890
4,137,869
1-5
10,(58.122 17.875,653
1-5
3,016.5.r'
1
92)284 1-3
1
2 7
4
H80
8
U
3-6
;
An estimate of the total taxation of the national banks for the
ten years ending in 1875 was given in my last annual report, and
is repeated here, with the fubstitution of the correct amounts
for 1875, in place of the partly estimated ones then given
Amount
Yeam Capital
gtock
United
Ratios to capital.
of Taxes.
g^^-^
State. Total.
State.
Total.
$8,069,938
8,818,127
8,757,656
7,297,096
7,465,675
7,860,078
8,848,772
8,499,748
9,680,326
$16,019,389
1-9
20
18,3.38,734
8 2
1
18,223,808
17,378,340
17,656,367
18,509,973
15,047,682
15,504,394
16,676,4:9
17,375,653
22
8
8
1
2 4
2 4
:-7
1-7
2-4
17
4
4
14
1-8
1-8
3 2
3 2
80
20
3-5
8 5
Stetee.
perct per
$410,893,435
422,804,666
1866.
18*7.,
1868.
1869.
1870,
1871.,
420.14.3,491
419,619,860
429,314,041
451,994.133
478,956,958
488,778,418
493.751,679
603,687,911
1874..
3875
.
$7,949.
9,525.
5,465,
10,081,
10,190,
10,649,
6,703, 910
7.004, 646
7,856,,063
7,317.5;«
I
lU,U5(i,l;!2
1-4
15
15
ct
p. ct.
3-9
4'8
4 3
41
1
1
Section 5204 of the Revised Statutes provides that no national
shall withdraw, or permit to be withdrawn, either in the
ot dividends or otherwise, any portion of its capital.
It
also provides that losses and bad debts shall be deducted from
the nlet prqfits before any dividend shall be declared, and that all
debts due to an association, on which interest is due and unpaid
for a period of six mouths, unless the same are well secured and
in process of collection, shall be considered bad debts within the
meaning of the law. This provision is corstrued to include
stocks and bonds upon which interest is past due, as well as
bank
form
The national-bank examiners have been specially iustrneted to scrutinize the loans of the banks and report
the amount of bad debts held by them; these instructions Lave
promissory notes.
been carefully observed, and have been followed by extensive
correspondence from this office with the banks, to which facts
may, in a great degree, be attributed the charging off of a very
considerable amount of losses, as shown below.
The following table, which is the first of the kind in reference
to national banks ever prepared, exhibits by States and principal
cities the losses charged off by the national banks during the
two dividend periods of six months each, ending on March 1 and
September 1, 1876
:
Marcti
States and Cities.
Maine
New
Hampshire.
Vermont
U&^Bachueetts.
...
Boston
Khodc
Island
Connecticnt
New York
New York
City.
Albany
New
Jersey
Pennsylvattia
..
Philadelphia.
.
. .
Pittsburgh
No. of
banks.
16
13
10
65
30
24
43
98
36
3
26
60
15
2
Baltimore
Woshington
Virginia
West Virginia...,
North Carolina.
Sonth Carolina .
.
.
Georgia
Alabama
Orleans.
.
.
Texas
Arkansas
6
10
8
12
5
3
6
4
3
5
6
1
Kentucky
Louisville.
I
11
Delaware
Maryland
New
. .
.
.
Tennessee
Ohio
53
2
4
86
Indiana
Illinois
31
36
Chicas^o
Michigan
£2
Detroit
1
Wisconsin
Milwaukee
16
8
89
18
10
Iowa
Minnesota
Miss<jnri
St, LottiB
3
Kansas
Nebraska
Or<^on
California
12
4
6
Cincinnati
Cleveland
7
4
1
..
3
September
1876.
1,
Amount.
banks.
$89,9i:> 35
24
06
80
66
98
45
22
:«
ti«,274
47,040
337,251
471,115
8i4,163
216,769
471,725
2,288,694
57,687
138,276
197,033
72.485
71
10
01
37
33
81
13
14
5
07
76,5 '.3 97
],0J2 59
893 67
260,066 29
8,3-a2 17
30,1)51
02
49
27
09
88
58
99
66
69
9,777
21,375
30.005
40,289
15,764
71,829
56,353
24.486
8,6)7 41
4
13
4
6
6
30
4
75
95
80
63
76,Ji50 34
193,.S23 06
187,826
35,392
22,033
143,564
51.712
6,165
53,304
36,574
96.933
26,288
32,757
39,159
8,835
12,703
$97,775 10
168.389 65
392.390 36
919,404 60
1,127,C06 70
203,482 25
365,079 56
828,951 80
4,585,065 87
39,.327 09
383.6;12 15
5:36,832 33
80,491 07
257,817 59
8,250 20
25.2.52 35
635,54 i 03
2,706 19
68,408 46
176 25
29.344 75
73 861 04
320.270 30
56.264 44
445,871 42
15,603 93
20,193
40,492
26,408
36i,699
66 817
30,275
;M9,039
167,676
802,068
16
59
46,454
16.386
26,868
386,443
28,504
11,7!2
338.059
38,729
36
48
59
31
30
01
29
45 82
2,398 23
321,250 55
2
8.390 04
38 60
10.934 87
8.1
.3
l$6.503. 169 82' 3.034
78
vP
77
66
01
05
36
94
906 90
5,709
15.665
81 868
45, '37
a,781
126
2,645
2,666
76
32
65
.33
25
38
30
85
392 22
S,082 64
806
77
78
70
67
50
63
14
06
89
Idaho
Totals
Total.
Amount.
1.38,064 01
34
Montana
1876.
91
3
1
8
31
18,011 01
9,376 43
2
6
Mexico
17
109
:43
81
44
183
43
5
08
San Francisco
Colorado
Wyoming
1,
No. of
Utah
New
$519,701 41. A small proportion of these unavailable assets
will doubtless be ultimately recovered
but there are still other
considerable amounts of doubtful debts held by the banks, and it
is probable that an amount nearly as great as that shown by the
foreeoini^ table will be charged to surplus or profit and loss
during the ensuing year
Tbe banks in the principal cities have for three years past held
large amounts of currency as a dead weight, which greatly augments the nominal amount of lieposits reported by them. There
is no provision of law for disposing of this excess, either by
funding, as originally authorized by the legal tender act, or by
redemption in specie, either of which would reduce the amount
of circulation. The rate of interest prevailing has therefore been
unprecedentedly low, the average rate in the city of New York
for the three years ending June 80, 1876, having been 3.4 per
cent, on call loans and
5.8 per cent, on commercial paper,
while the average rate during the year has been 3.3 per cent on
call loans and 5.3 pt;r cent, on commercial paper.
It is thus i^a
that the rate during the fiscal year of 1875-76 was less than
the average rate for the three years mentioned.* The banks
have thus held a large amount of money which could not be used
The Government is receiving a revenue
at remunerative rates.
Irom the banks which ismore than equal to all taxes paid by tbem
before the war; while the States are also increasing the burdens
which previously were as great as could be borne. Within the past
two years seventy-one banks, and since the organization of the
system two liundrrd and seven banks, have gone into voluntary
liqnidfition, chiefly on account of excessive taxation, while during the last year fewer banks have been organized than in apy
previous year since 1869; and unless some favorable legislation
is obtaintd, a very considerable number of banks will retire from
the system, to engage in private banking. In previous reports
the Comptroller has called the attention of Congress to the fact
that the amount of tax to which the national banks are subject
(the average rale, including State and national, being about
three and one-half per centum per annum) is much greater than
The reason
that imposed on nny other capital in the country.
for this will be apparent when it is remembered that the data for
the assessment and taxation of nation.al banks can always be
obtained from their published statements, while the amount of
the capital of other corporations, private firms, and iudividaals
cannot be as accurately determined. The tax on bank deposits
was eseenlially ix war tax; and such imposiiions having been
long since removed from every other similar interest, the Comptroller is fully of the opinion that justice to all parties requires its
removal from this one also. The recommendation for the repeal
of the provision imposing a tax upon bank deposits, and also of tbe
one requiring the affix ing of a two-cent stamp upon bank oheckg;
is renewed, if, in t^HMpdgment of Congress, a sufficient amount
can he more
(*f, revenue for th^^uppon of the Government
equitably derived from other sources.
$187,688 45
237,661 71
i.39,430 96
l,2i«,659 25
1,598,722 68
427,6.5 70
611 848 77
DIVIDENDS AND EARNINGS.
_
Section 5,313 tf the Revised Statutes provides that the nation1,3(X),677 51
al banks eliall report to the Comptroller, within ten days after
6,873.759 97
declaring any dividend, tbe amount of such dividend, and the
!>r,OI4 10
amount ot net earnings in excess of such dividend. From these
299,908 JM
733.825%- returns the following table has been prepared, exhibiting the
151.976 14
aggregate capital and surplus, toial dividends and total net earn333,851 56
ings of the national banks, with the ratio of dividends to capital,
4,282 79
26.146 02 and to capital and surplus, and of earnings to capital and sur876 207 32
10,8 i8 36
98,SHiJ 48
9,951 74
60,720 Oi
iOHMK
13
160,560
72,029
519,701
41,9.7
84.486
28,a31
59,103
36,580
550,625
102,310
IK
02
5.',308
462,603
244,020
895,392
189.776
51.619
69,491
43.4J2
plus, for each half-year, commencing March 1, 1809, and ending
September 1, 1870; from which it will be seen that the average
annual dividends upon capital during the last year were less than
nine and one-half per cent, while the raiip of dividends to capi-
and surplus in the same period was only seven and one-half
per cent:
tal
41
59
69
18
79
11
42
45
93
77
40
25
95
84
38
9i
S8i',375 34
54,74i 6
44,461 36
857,218 45
2;..')4t 95
36,670 19
5 755 58
37.8.53 55
208,319 SO
62,052 20
2,816 10
8.3'6 36
2,668 80
2,66 15
9,474 86
I
i
Period of six
Capital.
months ending
Snrplas.
Total
Total net
divid'nds earnings. =
V
2
5
$
Sept.
1,
1S69
Mar.
1,
1670.
1870..
1871..
1873..
38:2..
3872..
1873..
1873.
1874..
Sept.
1,
Mar.
1,
Sept.
1,
Mar.
1,
Sept.
1,
Mar.
1,
Sept.
!,
Mar
1,
Sept.
1, 1S74.
Mar.
3,
Sept.
1, 1875.
.
1875..
Mar.
1,
1870
Sept.
1,
1876.,
.
1,433
1,571
1,601
1,605
401.650,8C'2
4!0,.366.993
42),:i37,304
428.699.165
1,633 445.999,261
1,750 450,69.1,706
1,8.52 465.t. 76,023
1,912 475,918,683
1,955 438,300,951
3,967 4S9,510,.323
3,971 489,9.38.884
2,007 493,568,831
2,047 497,864,833
2,076 .504,209,491
2.083 500.482,273
$
t
P
If
p.c. p.c
4 5C 5-04
4 27 5-7V
105 ,?48 21,767,83129,221,184 5
118,,210 21,479.095 28,996,93415
408 519
21.060.343,26,813,885 4
^
1-21 5-21
672, 401 22,205,1.')0 27,213,162
407 5-02
286,,691 22,12.5,279 27,335,333
4 16 5 00
,431,,243 22,f59.f20 27.502,53!)
417 5 36
181 ,942 3.827.2S9 30,572,691
4'21 5 41
,25' 2-i8 2!, 826,061 33.926.478 5
409 5-46
118, 848 21,823,029 38,122,000 6
3-84 482
i,544,120'4
,46S, f59 23,529.968 2
4 03 486
,364 ,039 24,989,307 30,036,81315
,6:j'
3 96
24,750,816 29,136,007i5
,560,
3 85 4'56
,183,,649 ;24,317,786 88,800,21714
,467,(,r>y5 .4,813 5K1 123,097.1121 4 92 3 88 3 02
251.1,078 23.563,fti9|20,540,231 4 50 3 67 3 25
,630,,'20
4M
The following table exhibits similar ratios
divisions for the years 1875 and 187G:
by geographiijal
$13.217,856 60 $19,719,026 42
This table represents returns from all the national banks
transacting business which charged losses to profit and loss or
surplus acconnts during the periods named and it shows that
the total losses disposed of were, during tbe first period,
f6,501,;
* The avcritge rate of interest in New York City for th<> fiscal years ending
June S'^, 1874, ':5, nnd '76, as nscert.iincd from data derived from the Journai
of Comment and the Financ ai. Chronicle of ihat city, was .ts follows:
38T4, call loanj", 3'8 per ctnt;
3875, call loan?, 3"0 per cent;
3876, call loan?, 3'3 per cent;
commercial piiper, 64 per cent.
commercial paper, 5"C per cent.
comni rcial pa, er, 5 3 per cent.
)
.
December
THE CHKONICLR
iH 6.J
16,
l8:o.
1875.
Oeogniphlcal
Divi-
OlTiaionii.
TSTvi-
dends
Per
New Kngland States
Mfddlc States
A
tal
surp'ls
Per
ct.
9-0
ct.
surpl's.
Per
8 7
10 7
9 9
Per
ct.
Per
ct.
8-4
8
8-7
7-6
7-6
7-7
98
.Southern States
Western States A Territ's
Ifnited States
dends Eam'Ks
dends to capi- to capital and
tal and
to
and
tal and
fciirp'ls. capital.
surpl's.
Divi-
Karn'jjs
deiids
ro capito capi-
to
capital
denominations
Divi~
82
88
8-fi
9 8
11 6
10 3
7 S
9 3
9-4
ct.
Per
ct.
6-5
5-5
9 6
6 7
77
7-6
8 1
7-6
9 9
6 9
subjoined ahowtnc by geo$:raphical
for the last six years, and tbu average ratios
lobular statement
ia
divisions tlie ratio.s
for the whole period:
1
Ratio of dividends to capital for six montbs ending—
1871.
Oeographical
1878.
1874.
18- S.
1875.
than five doliars, and ^97,007,300 in five-
:
Prior to
November
1,
)1TS,4M
l.OSUan
1865
DiirlnKtUeytarendirg October 81. 1866
During the year ending Oc ober 31, 1867
DuriiK the year ending October 31, l'-68
During the year ending Ottober 31, 1869
During the year ending October 31, 1870
During the year endlrg October 31, 1871
Duiliig the year ending October 31, 1872
Duiing Ihe year ending Oc'ober 31, 187;)
During the year ending O'tober 31, 1874
During the year ending Oc ober 31, 1876
During the year ending October 31. 1876
divisions.
8,401 4tt
48ISRH
CS STW
14 8'S,88l
14,344.047
30,211,790
36,483,171
49,(3v,741
137,6'<7,8M
V«,mS,7ia
amonnt dtsttoyed of notes of bank) to llquidiUon
lt<,l53,(i(M
Total
p.c.
p.c.
England States.
50
51
p.c.
4-9
p.c.
4 9
IHiddle States.
Soutbern Slates..
Western States A
Territories
United States
51
50
5-1
50
5-0
5-2
4-8
60
5-3
5-5
5-2
5-8
5-1
5
.
.
51
5 4
Ratio of dividends to capital an^ aurpiua.
N. England States 42
Middle Slates
4
Southern States ... 55
Western States A>
Territories
Imited States.
401 41
41
40
4-7
3-9
4-2
3-9
4-9
[
3-8
3-7
3-9
3-9
3-8
4-3
4-5
427,!>M,tl3
LOST AND IINRRDEBMBD BANK NOTES.
m
i[.
less
dollar notes.
At the same date there was outstanding $50,500,300 of legal tender notes in douomi nations less than five dollars,
and $51,8:0,390 in five-dollar notes.
The following table shows the amount of national bauk-notes
received at this ofOce and destroyed yearly since the organization
of the system
Additional
187ff.
693
3-8
3-9
3-8
8.8
3-7
3-5
32
41
39
3-9
3-8
3-7
4
3-9
4-5
In his report for last year the Comptroller gave some statistics
in reference to the percentage of bank notes not presented for
redemption.
Returns were given for two hundred and eighty
six banks in the State of New York, organized under the
authority of its Legislature.
It w.ts found that the maximam
amount of circulat on issued to them was $50,754,514, and that
the total circulation then outatar.ding was $1,.330,337, the proportion of unredeemed circulation being 3.03 per cent of the whole
amount issued. The maximum amount of circulation iesued to
thirty State banks which are still in operation, either as national
or State banks, was $7,703,010 the amount unredeemed in October, 1875, $143,305
amount unredeemed in proportion to that
issued, 1.8-3 percent. Similar returns were obtained from the
State Bank Superintendent of Wisconsin, from which it wag
found tliat the greatest amount of circulation issued to two
hundred and forty State banks was $7,503,409, the amount
unredeemed being $134,747; proportion unredeemed, 1.78 per
cent.
Returns have been recently received, in answer to circulars
from this office, from two hundred and ten banks originally
organi7,ed under State authority in the six New England States,
which show the largest amount of circulation issued to these
banks to have been $39,345,380, the amount remaining unredeemed being $793,707 proportion of unredeemed circulation,
3.03 per cent.
The returns from three hundred and thirty two
banks in New York, New Jersey, Delaware and Maryland,
including those received last year, show the maximum circulation
;
47
4'S
4-5
|
4 5
41
i
4'2
4-2!
42
4'1
3-8
44 42 41 4m 4 4
40 40 39 3-9 8-8 41
REDEMPTION.
Tlie following table exhibits ilio amonnt of national bank
notes received monthly by the Comptroller of the Currency for
the year ending November 1, 1870, and the amount received for
the same period at the redemption agency of the Treasury, together with the total amount received since the passage of the
act of June 20, 1874:
Received
at red'mp'iou
Months.
agency.
;
;
have been $05,604,170; amount still unredeemed, $1,707,438;
percentage ot unredeemed circulation, 3.00.
Returns from
twenty-five banks in Ohio give the largest amount of circulation,
percentage of unre$3,196,381 amount unredeemed, $61,340
to
;
;
deemed notes, 3.79.
The following table gives the greatest amount of circulation
issued to seven hundred and seven banks, the amount outstanding, and the percentage unredeemed in twelve States of the
The percentage
Union.
No
States.
Tolal
Rec'dfr'mJnne2i).
'•74, to Nov. 1.75.
Orand
total.
216,149,601
219,a36,+45
...
4:»,486 046
From
the above table it will be seen that there was received
redemption agency of the Treasury, during the year ending November 1. 1870, $310,149,001; of which amount about
$73,000,000, or 33 1-3 per cent, was received from the banks in
New York city. The total amount received by the Comptroller
for destruction from the redemption agency and from the national
banks direct was $103,793,501; of which aiuouut $47,803,388
•were issues of the banks in the citv of New York $39 008 393 of
Boston, $15,310,718 Philadelphi , $8,930,713 Baltimore, $7 683 207 Pittsburgh, $3,387,940 Cincinnati, $6,86J,763 Chicago,
$4,334,385 St. Louis,
$2,514,883 New Orleans,
$3 517 640
Albany, and $3,609,090 Cleveland. There was $104,183,948 of
national bank circulation outstanding on November 1 upon
which the charter number had not been printed, and $315,087,348
in circulation having that imprint.
The following table exhibits the number and amount of
national bank notus, of each denomioaiiou, which have been
issued and rodeemed since the organization of the system, and
ths number and amount outstanding on Novembar 1, 1870at the
Hampshire.
Vermont
MaSHachusetts.
Rhode
all
these
Island.
of Greatest circu- CIrcu ation Per- cntage
banks
Maine
New
outstanding circulation in
of
was 3 "35.
States
..
16
S;),.'i73,l*)
(53,1(»
2,520.339
35,660
16
41
3,14:j,.348
37,0e«'
12
te,3«'..'»7
254,954
23
1.'58.834
8-5
44
.
Connecticut
New York
New Jersey
outstanding unrcdecm*d
lation.
29
a!
6,:i6',862
t'4
.53
13,S50,5M
253,190
80
286
50,754,515
!,:B6,:J37
7,H1,M7
162.961
35,461
ir2,669
2-8
2-3
3-7
S'6
2-8
»
Delaware
Maryland
Ohio
Wisconsin
25
140
159.770
6,817,844
2.196.381
7,5«>,409
l:>4,-47
1-8
Totals.
707
$114,671,346
$2,6 6,282
Hi
The
greatest
5
16
61,340
amount
of circulation of the fifteen national
banks which failed prior to 1870 was $1,554,400, and there now
remains unredeemed of thatcirciil<Ction but $31,051, a percentage
of 1-35 only.
Of fifty-one national banks in voluntary liquida
tlon previous to 1870, with a circulation of $5,833,940. there remains outstanding $389,844, or 497 percent. and of seventy six
banks in voluntary liquidation prior to 1873, with a circulation
of $8,0.35.180, there remains outstanding $435,894. equal to a per*-'
centage of 504.
The amount of demand Treasury notes issued from July 17,
1861, to December 31. 1862. was $00,000,000, in denominations of
five, ten. and twenty dollars
and the amount remaining outstanding on the lat of November was $05,693, the portion unredeemed being a little more than one tenth of one per cent.
;
;
Namber.
Denomination.
Issued.
Amount.
ReOutdeemed. standii g.
Issued.
«
18,849,36; I5,5."i6,708
6,307,44»-
6
10
80
!1.783.5«^
80.008,65^
6,086,408
986,616
710,900
aa.
100
000
1000
18,781
Add and sub
tract for nores
lo-itor d'tro'yd
Re-
Out-
deemed.
standing.
s
«
292,558 18,)«9.264 15.5.56.708
3 292,5!6
5,321..54«
982 9M 12.614 S96 10.649,092
1 965 801
)«,382,056 19,401,472 2,^.917,610 161.910,280 97.007,,360
10,369 214 9,8:^9,4;i8;2JO,086,^>30|108 692,140 98 394,380
2,852.246 3,2:!4,246| 12 1.729.8401 57.()H,9Sfl 64,i'84,920
515,784
46»,8:il 49,280,750 25.789,200 2!,491.5.V)
395,786
315,115 71,090,000 39.578 500 31 511.500
16,217
2,504
9 360 500
8.108 5
1 252 00
5.B;t9 OOl)
6,^^
5,272,000
267,000
i
-9.186
-f-9,126
101.756.159 67,417 8281.37.338.331
747,468,410i427.592 214 119.876 196
It will
on the
be seen from the above table that there wasoulstandin-i-
Ist
day of November, 1870, $5,258,360 only,
in notes ot
INSOLVENT BANKS.
have been appointed for
Since my last annual report receivers
nine national banks, as follows
:
CapMil.
Miners' National Biiik, O?o-golown, Col
Fourth National Bink of Chicsgo 111
First National Bank of Bedtord, Iowa
First Na'ionnI Dmk of OaceoU. Iowa
Fir.-t National Bank of Duuth, Minn
First National B ink of Li O.'O'S-. Wis
City National B«nk of Chicago. Ill
Wa(km3 Nat onal Bank. Wa kins, N. T....
Fir.-t National Bank of Wichita, Kan
tlSOlOOO
800,000
53,000
51,0(0
100,400
50,006
860,01)0
,^
76,U00
60,000
Total
Dividends have been paid to the creditors of
banks, as follows.;
$986,000
five ol
them
::
Ptr cenf.
Flnt National Bank of 0»ceol8
Firot Nutional Bank of Dnliitli
FirtNa ioiial Bank of Lacrosse
W"lkln8 National Bank
g
*
*•
W
..
25
City Nailoual Bank. Chicago
tLggregaie
amount of these dividends was $?43,563
:
nretNationalBankof Washlneton, D. C
Dec.
5—Str.
Doc.
Dec.
Dec.
Dec.
Dec.
Dec.
33, the
average dividend being 3o3 per cent. Dividends liave also been
declared during the year in favor of the creditors of banks
which had previously failed, as follows
total, lOOpercenf.
total, 100 per cent.
totol, 60 per cent.
total, 40 per cint.
total, 45 per cent.
total, 34 per cent.
16 percent.; tota', 76 per cent.
lOpercent.; total, 36 per cent.
aOpercent.; total, SUpercent.
.16 per cent.; total, 15 per cent.
16 per cent.; tot.l, 15 per cent.
10 percent.; total, 10 percent.
40percent.;
Gibson County National Bank. Prlncoton, Ind.l.O per cent.
percent.;
10
Bnnk,
Orleans...
Cilv
.N'alional
Now
Crescent
15 per cent. ;
First National Bank, Carlisle, Pa
10 per cent.;
Plri,t Nationiil liaiik, Mansfield, Ohio
Merchants' Nutional Bank, Peteisbnrg, Va. ...10 per cent.;
.
First Naliona' B.ink, Petertbur?, Va
First Natioujil BaLk, Anderson, Ind
First National Bink, Tlffln, Ohio
New
Orleans National Banking Association
Venango National Bivk, Frai.klin.Pa
Charlottesville National Bank, Va
amount of dividends disbursed during the year to
The affairs of
creditors of insolvent banks was |1,093,178 43.
the First National Bank of Washington, D. C, Gibson County
National Bank of Princeton, Ind., First National Bank of Petersburg, and the Merchants' National Bank of Petersburg, have
been tinallr closed, the creditors of the two first named banks
City of Merida
:
*******
[The remarks of the Comptroller, under the hends of " Reserve," "Geographical Distribution of National Bank Stock,"
"Stale Banks, Savings B.^nks, and Trust and Loan Companies,
organized under State Laws," ag also a Synopsis of Supreme
Court Decisions, we are compelled to omit for want of space.]
In concluding this report the Comptroller gratefully acknowledges the fidelity and industry with which the Deputy Comptroller, heads of divisionf., examiners and receivers of national
banks, and clerks associated with him in this office, have performed their respective duties.
JOHN JAY KNOX,
...Silver coin.
Golrt coin..
Bar silver..
5— Str. CuUa
6— - tr. &jiU|nbus
7— Sir. Frl»»
8— Brig Caracoa
Havani
Havana
Havre
8— Str. Algeria
8— Bir. Leo
Liverpool
...Gold coin..
..Gold coin.
Gold coin
Silver coin
Gold coin
Gold coin
Gold ccln
Ouracoa
Nasaau
—
Imports and Exports fob the Wbkk. The imoorts this
week show a decrease in dry goodp, and an increase in genera]
merchandise. The total imports amount to $3,862,598 this week
against $3,401,541 last week, and $4,076,918 the previous week!
Theexports amount to $6,663,540 this week.against 16,934,616 last
week, and *6,133,047 the previous week. The exports of cotton
the past week were 0,419 bales, against 15,303 bales last week.
The toUowinsraretke imports at New York for week ending (for
dry goods) Dec. 7, and for the weak ending (for genera! merchandise) Dec. 8
P8REISN IMPOBTS AT NBW TORK POR THE WEEK.
1873.
$615,161
3,903,70i
$931,358
1875.
$I,0S1,6;0
764,13.3
4,60j,000
3,87i).713
3,038,465
»4.619,lfH
361,459,119
$D,.'J31,'i58
36i.H6,5j5
$4,901,413
306,444,886
Drygoods
General merchandise.
.
.
Total for the week.
Previously reported
BlnceJan.
I8t4.
1876.
J3
8.i?,-<18
261.810,868
{311,345^ $23r7f 73^80
The following is a statement of the exports (^exolufive of specie^
from the port of New York to foreign ports, tor the week ending
Dec, 12;
ixpoBTs pnoa hew tore for thb wbek.
$368,978,278
1
_
,.
For
1873.
,.
Uie week
Previously reported....
Since
Jaal
$870,677,836
1874.
tB.5(t,8!3
2o9,3Jl,960
$(5,510,980
i3j,940,a8-2
8S75,S6i,773
$346,431,262
$.1,375,915
a3a,.349,H)9
$887,725,044
1875.
Total since ^an.
1
$2^1.3o',664
bef^nnlng of the year, with a comparison lor the corresponding
date in previous years
Dec 7-Str. Herder
Hambnrg
Silver bars
822.C0O
T>—
Dec.
^,
n
9 -sir.
.
America
T,„
n c. />
Dec.9-Str.
Cuha
1.
London
London
Mexican
Mexican
„
Havana
Silver bars
dols...
dols...
Span, gold coin.
I62!l32
(i;500
118,600
153,000
100,000
8,448
10.289
727,05t>
430
$17,787,610
1876.
.
Same time IB—
Same time in—
1875
$!2.?4358I
1874
1873
,.18.520.
.
1872
le7I
...
1810
1869
1868
K 170.741
6 '8
..... 5,503 83-i
li?b7
8.532,209
1866
The tranBacttons tor the week
Treasury have been as followsCustom
House
Dec.
,
209,817
414.614
176,326
8R3,55>
231.536
184.000
312,000
125,000
161,000
101,000
12
18
14
15
9,5T9,MO
at theOuBiuua
bouse and BuD-
$403,489 9»
910,678 T»
$»:7,733 70 $1,638,227 67
627,017 ia
132,43!) 61
E16.C61 13
217,817 SI
536,376 .38
3,079.737 87
6 '5,047 IS
2l)l,a)9 52
758,%3 80
98:1,136 91
'168.000 $13 872,572 86
9
11
$11,535,494
14.«;4,1B2
6.764,934
3,086,h«9
,
Sub-Treasnry.-Receipts.
Payments.Currency.
Cnrrency.
Gold.
Gold
,
Receipts.
IX)
85
69
15
92
510,404 1&
488.065 64
4.55.948 11
400,-03 91
Total
(1,354.000 $15,271,471 17 $3,401 704 49 (6,252.445 24 $3,151,190 SO
57,052.1574 28 42.535.102 99
Balance, Dec. S
Balance. Dec. 15..
66.071,700 10 42.785,616 97
—We
call attention of the business public to the card of
Messrs. Lazard Freres in our columns to-day. The representatives of the firm in this city are Messrs. Joseph Aron and Qoltlieb
Beer, and they are now prepared to buy aud sell exchange, and
make telegraphic transfers of money on California. The Paris
office of the house is No. 10 Rue Ste Cecile, and the San Francisco office. No. 409 California street, witli tlie following amongst
some of the more prominent of their corre.spondents London,
Union Bank Berlin, William Uo.senheim & Co.; Vienna, Societe
I. & R. Autrichienne de credit pour le Commerce et I'lndustrio
Strasbourg, Metz, Mulhouse, Banque d'Alsare et de Lorraine
Rome, Ant. Cerasi Yokohama, Sl)anghai, Bombay, Hong Kong,
Calcutta, agency of the Coraptoir d'Escompte de Paris.
:
;
;
;
;
—
The Western Union Telegraph Company has declared *
dividend of one and one-half per cent for the quarter ending
Decern ber 31, 1876, payable at the office of the Treasurer on and
after January 15 next. Transfer books close December 20, and
re -open Jsmisry IP.
Gas aud City Railroad Stocks and Bonds.
lUa? tjiiotatloBB hj George H. Prettlss. Broker,
Gas Companies.
Far Amount. Periods,
Brooklyn Gas Light Co
Ctlzens'OasCo (Bkljn
2,000,000
1. 200,000
do
Harlem
320.000
1,850,000
886,000
4,000,000
2,; 00,000
I.ITO.OOO
eertiUcates
& Hoboken
Jersey City
Manhattan
Uetropoiltan
do
do
c^rtiilcates
T
b n
ro
Last
Bid.
dividend.
s
.M'ltual.N.
•Nassau, Brooklyn
scrip
do
Neir York
Fe^le's (Brooklyn)
do
bonds
do
da
certificates..
do
Ceniral of Kew York
|2X
I'Ct.,
SX
sa.ooo
1,'»,'00
tk
SeoentfiAce—eiocii.
mortgage
Srookh'n Oiiy— stock
let mortgage
iBt
'76
'76
M.&N.
J.
*•
.">
J.
K.&A.
!,«!
',8.
^^r.
76
102
102
'.ODi
80
93
131
51
»5
Aug. 1. '76.
A.
J.&
3
M. &S.
:X.Inly,
2K Nov..
J.
.I.&.I.
'
i;2X
lOiH
(•2
WO
'.SS
im
nt
Wi
'.6.
BO
76.
Broadw
24lt
ICO
Oct., '76
ay.l
July, 76
1884
4PenW6— stock
100
KMI
Ist mortgage
HdSt. (t ffrand St f err;/— stock.. too
Ist mortgage
10(X1
ICO
Central Cro^s 'loten- Btock
100(1
Ist morteage..
Houston. West st.tkravJ"erry—Btk
560
Istmortgage
ton
Second Avenue stock- .
lOK
At mortgage
—
?d morcgacre
,
800.000
1,000,000
203,000
7-0,000
236.000
560,000
200,000
2iO,COO
500,000
!.!99,500
350,000
150,0(10
617,(100
10(1
lax'.
2000,000
lOdC
Atenae—Btock
Tr,mli/-ttiira liirtel—*locfi
10(i
Ifitmortgace
190
1812
July.
'16
leo
75
Oct
,'76
1888
J.&,
J.&D.
6!;<','X)0
1,20U,00()
7S0,00t
115,000
2,000,000
Istmortgage
Nov., 16
tOO.l.Oll
1000
10(i
Q-F.
M.&N.
Q-J.
10.'
1,8(0,00(1
1,200.000
1000
isimortgage
SO
J. 4; J.
J.&l).
2,100,000
1,600,000
:u 2,000,000
looa
300,000
100
200,000
:oo
400.000
1000
300,000
—
CirtiB. Convei-tlide
Ma^t^ AnenAUt' stock
1880
100
1000
BroqxUoay (Brooklt/n)— Block
Btodklyn A Hunter's P!—stock..
Ist mortgage bonds
Dushicick Av. (iS'/Hyn)— stock
\^tnlralFk, jV. <S K. Rtvei stocK I'oo
IsT mortgage, consolidtted .... lUOO
t7Af tstOpAer ifJoifi Streel— atock
Urn Itvck^E H. ttBatCeri/— stock
let mortgag*^ oons'd
Tliird
2 ill"
149
,Ian.,'76
Nov..
(Nov.,
3X Jan.,
101
165
May.
J.& J.
UO
A'i.tfc
f,roadwai/
Eighth
no
Aug.,
r'Juotaliona ry H. L. Graxt. Broker,
900.(110
FultunFerry—eiOL)^ UO
j'.'&j'.'
Mi)
6*1,000
1st mortgage
,
Bteecker
»7
»9
1(5
Au(r.,
•July,
7li0.(tC0
3o:,foo
456,000
l,Ot».000
1 000,000
100
18I)i
.Jan
5 000,000
1,000.000
1,000,000
W
;T9
Oct.,
&S
Askd
Nov., "7C
July,
4,(X)(I,000
Ulamsburg
scrip
do
,
M etropolit ui. Brooklyn
& O.
f.&A.
J.& J.
J.& J.
M.&S.
A.
M.
Broad Street.]
3S{
500,00(1
.0
.
The following will show the exports ot specie from the port of
New York for the week ending Dec. 9, 1876. and since the
1,079
l.SSO
8,084
$2,141,50;
15,640,115
cs
Misttllamons N«tos.
83,;i6Z
for the week
PrerlonslT reported
Comptroller of the Currency.
(SkrmmerctaJ anh
16, 1876.
Vera Crai!
total
having been paid in full. A dividend of eight per cent has been
declared in favor of the creditors of the Cook Co. Nat. Bank of
Chicago, which will probably be paid during the month of
December. Suits have been brought for the enfiTcement of their
individual liability, under section 5,151, of the Revised Statutes,
against delinquent sliareholders of the following banks The
First National Bank of New Orleans, Crescent City National
Bank ol New Orleans, New Orleans National Banking Association, Atlantic National Bank of New York City, First Niitional
Bank of Norfolk, Va., First National Bank of Anderfon, Ind.,
Scandinavian National B.ink of Chicago, First National Bank of
Mansfield, Obio, and Cook County National Bank of Chicago,
w
[December
ToUl
;
The
.
.
THE CHRONIOLE.
594
The
—
!
:
ii(r
600,000
250,000
Nov..
J.&D
J.& .1.
J.& J.
M.&N.
A.&O.
J.
No".,
& J.
'76
Jiily.1894
Oct.. '16
1877 :
1885
1888
Nov..
Aug.,
(J-F.
i7x
80
78
100
90
90
2!0
ios"
"76
1890
Jttlv,T6
J.
73
71 )s
"76
1890
J.4J.
&
iw
1873
Q.-K.
J.&D.
A.&O.
M.&N.
M.4N.
J. & J.
J
•0
•76
July.^6
M.&N.
ioo"
to
lOJ
roionM. ft, own inAt dividend tip moot*. Also date of niatnrlcy of bond*.
California Minino Stocks.—The following prices, by teleOTapb, are fni^
• Tint.
Total for the week
Frevtonsly reported
Total since January
Same time in-
1878
»4o7iT2"7n
*«-.»J-i.in
same time m1870
54.391.28111869
$57 804 691
.30,917,244
If't0'';9ll868
69.6374"
6'J,076,li57
61.i31.U6
I
I
186T
lg86
47.093994
60;4B7,607
of specie at this port during the
been ag follows
nished by Messrs. Wra. W. Wakeman
Consol. Vir. 41
Alpha
81
14
Oown Point. 8
Belcher
EnrekaCons. 11
Best & Belc. 44
& Co.,
same week have
& Cur.
•
Liverpool
H»ll
Gold coin
Oold ootn
$727,03-.
«6,B50
I
80 Wall street, N. V.:
Sava2:e
Justice
25
Sierra Nev...
Kentuck
9
Silver Hill...
Mexican. ... 20
—m
Union Cooeol
Ophir
....
12
Overman
Yel. Jacket
113
Norc. 8
Ray'Jr& Ely. 5
Imperial ..... 3
California,
per
share;
dvidend
on
$2, Dec.
Dividend on Northern Belle, $1
asfcssnient on Raymond & Ely, $1 ptr share.
IS, 1876
Texas Secuiuties.— Messrs. Forster, Ludlow &, Co., 7 Wall St., quote:
80 ....
State 7s,gld S10.1
H18
State 10s, pens §102 .... Dallas 10«.
100
S. Ant'io 10s. 80 ....
6s of 1892 .. S HO ...
78,g 3U yrs S104
106.1884. 8 <»i
....
Austin IDs....
95 102
Caledonia.
1
California ... 4.'
Chol'rPotOBi 81
.
.
.
Gould
Hale
&
I
I
;
I
Dec. 4-Sir C ty of Richmond.
Dec 4— Str. America
4*340^5
.
1,
i
•f™»"-••-
The imports
.'.".'.'.'.'.".".".'.'.'.';
$67.9:1.745
J"5
1«<
}S»
iufsiqs
.
I
S
With
iuteretit.
I
|
.
.
—
:
December
©nuttc.
fiaiiKers'
€(ie
No
THR OHRONICLR
1876.]
16,
Xational banks or^nizi^d durio); thn past week.
UIVIDBNUM.
Th* following l>tvHp!nl"
OOMr^HT.
:
r'ABLS. (Dayi Isdaaive.)
CsBlT.
ITnllroailil.
Ani^sta & Ra^annuli
Union Psclflc
On dem
Jan.
2
I
FRIDAY. DBC
The Ulsney
Uas
ISarkot
shown nothing
nnd KlnanclaJ
of
1
IS,
Dec. 31 to Jan.
nPec.
iJan.
I'/t
).
1
21 to^Jan. 15
i8Te-« p. n.
Sltoation.
Hpccial interest
in
—The week
financial circles,
and, aside from the immediate inUuences on the maikete, the
attention of hnsiness mtm '\a still engrossed with the political
Bitnation. Notwithstanding the bluster of newspapers and politiciauB, it is ditUcult to find any rational men who seriously
believe that there will be an appeal to arms or a disruption of
the Government, but on all sidea it is conceded that the
uncertainty now existing and the prospect of its continuance for
some months to come is damaging to business. It is also feared
that the otieck pat ou commercial transactions from the time of
the eieetlons early in November to the time when the Presidential question shall be settled, will be unfavorably reflected in the
list of mercantile failures for the last quarter of 187C and early
part of 1877. There were, undoubtedly, some firms which had
been hanging on with the hope of tiding over their aflfairs
through the help of a brisk season after the elections, and this
expectation proving fallaciou-", they will hi obliged to saccuaab.
Our local money market has lately shown the tendency to
firmness which almost invariably corner with December, and is
caused by the decrease in bank reserves through shipments of
currency to the West and South, and the accumulation of funds
by corporations and others preparatory to tkeir January payments
of interest and dividends. The past few days, however, rates
have been easy, and call loans generally made at 3@5 per cent.
On prime paper the current quotations are 5i@7 per cent.
On Thursday the Bank of Eugland weekly statement showed a
decrease of £394,000 in specie, and the discount rate was left
unchanged at 2 per cent. The Bank of France gained 575,000
francs in specie.
The last statement of the New York City Clearing-House banks,
Issued December 9, jUowed a decrease of $393,700 in the excess
above their 25 per cent, legal reserve, the whole of such excess
being $8,084,600, against $8,477,300 the previous week.
The following table shows the changes from the previous
week and a comparison with 1875 and 1874
Dec.
Loan* and di8.
Specie
drcQlatlon
..
Net
delKjsits..
Lejpil tenders.
Dec.
2.
$258,&89,;00
10,43), 100
14,952,800
207,3«,000
39,SiJ,7iK)
9.
Dulted States UondM. — There has been a good business in
governments, as we anticipated last week that there would be,
on the first turn towards firmness in prices. Gold was a fraction
stronger to-day and closes } better than the lowest point of the
week, and tliis helps to stifEen the prices of governments. The
demand has come largely from corporations, and it is believed
that there is a pretty Urge amount of these bonds wanted by the
same class of buyers during the next six weeks, and they will
come into the market for some heavy purchases whenever they
think prices have reached the lowest point.
Closing prices dally Itave been as follows:
Dec.
Dec.
Dec.
9.
Int. period.
reg.. Jan. &.Inly. •112
11.
18.
ta,1881
»1125i
£,1831
coap..an. AJnly. 116
U5>i
11254
118
May & Nov
Called bonds
Dec.
Dec.
Dec.
14.
15.
13.
112X
IIBX
1121i •112J4
116V4 116%
*
reg..May &Nov.»108K *108)i 'i(»}4 108Ji *108« -109
conp..May & Nov.'lCB'i 'lOSK lOgJi 108!i 'lOSJi 109>i
«e. 5-208, 1865, n.i...reg.. Jan. *.July. 10854
108X 108X *lC8Ji 109>i 109!i
«B,5-!0s.l865,n.i. .coup.. Jan. &Jnly. \\\ii 111)4 lllJi Win 112!4 •112.'^
«e 5-209, 18«5
6e, h--Kf, 1865
& July. •111^4
111)^ 11154 111J4 •111J4 112
Jnly. 114)4 H'lV 114'/4 115
115X USJi
..rcg.. Jan.
July. 'lis
'lll^i •n2,'< 113J4 'US
113Ji
coup. Jan. * July. »116
'liex 116>/4 *HBJi 'il? *niM
ft-208, 1883
II214 •1I2J4 *112H
reg. Mar. & Sept. •!1154 •lll'/4 112
£10-4(18
cottp..Mar.&Scpt.*112
lllM 111»^ 112i4 112J4 •112»4
6,10-408
reg..Qimr.— Feb. •110J4 •HO;* 110J4 llOJi *110)4 111
Be, funded, 1881
—Feb.
llo;4
Guar.
conp..
1881...
110J4 llOJi llOJi 11UJ4 110!^
69 funded,
reg..Qiiar.^Feb.»;07X '108 •106.H 'lOSX 108J4 108i4
4H8, 1891
ai,
«»,
to,
6s,
5-808, 1887
5-908, 1867
5-208, 1888.
rcR. .Jan.
coup...ian.
.
*
&
.
.
coup.. Quar.— Feb
4V4». 1891
reg. .Jan. AJnly. 'laOM 121
151« 121H 121« 12154
esrCmreney
The range in prices since Jan. 1, 1876, and the amount of each
Dec.
were
outstanding
as follows:
1, 1876,
class of bonds
Since Jan. 1.
Amount
Lowest.
Highest.
Registered
'eg. 112K Dec. 12 123)4 Feb. i $193,610,660
te, 1981
coup. 11514 Dec. 11 124>4 June 16
la, 1881
conp. lOsH Dec. 8 11854 Mch. 13
35,671,250
«», 5-809, 186S
" June
7,121
62,358,650
2a
'1'
83, 5-208, 1885, new.. conp. 111)4 Oct.
'
--'
11 123i4 June 15
91.716,150
coup. 114!< Dee.
(8, 5-208, 1881
conp. 116Vi Oct. 16 124)4 Junes22
15,229,500
(c, 5-t08, 1888
'
reg. 112
Dec. 12 119)4 Jan. 29 141,868,300
Cc, 10-408
conp. nVA Dec. 11 lllXFeb. 28
ts, 10-408
Feb. 21 223,948,700
coup. lIOv, Dec. 9 119
Ge, funded, 1S81
reg. I'i8
Dec. 7llll)4 0ct. 28
4W8, 1811
coup.
«V4». 1891
reg 120?4 Dec 4il28 Feb.
81.823,512
Ce, Currency
.
,
I
Dec.
1.
.
Coupon.
]
'89.'(ltJ,566
1
114.8«,4no
1
140,301.453
21.5,876,600
9a',696',6fl6
296,545,469
I
m\ old.
8. 60, 5-20-,
S. 8s, 5-208. 1867
8. 5e. 10-408
New5»
cash.
Railroad bonds have been in moderate
I
103)4
I09»4
in7-»
I
|
194
IIMW
110
xiirr!4
107)4
10T'/4
I
Jl05i4
!
108
1(16
102Ji Oct . 16' 106)4 Jnly 24
107)( Jan.. 51 111
June 9
105X Apr. 20 109)i Anit. 15
1U4>4 Jan.. 18 108)4 Sept. 86
at prices gen-
& Toledo
:
BONDS.
t2,0:0Hockrord R. I. & St. L B.
B. Istm. conv. 78, gold, dne
Aug. 1, 1871, coupons
1918.
811ABB8.
5 Market Nat. Bank
112
8 Metropolitan Nat. Bank
10 Hanover Nat. Bank
..90)4
400 Brooklyn City Ita'lro-.d... ..189
Brooklyn Ferry Co.. 164
200 N. Y.
va%
on
&
20 QneenB County Ferry o.X p.
Title of an estate in certiflcatcH
representing lOSsbares L. I.
1
Ferry Co
.
Dlv.)2d
2,000
ra.
78
Improve-
1892
118X
2,000 N. Y. County Asks*. Fund
7e, 1887
5,000 Centtal Pac. RR. 7s, gold.
1883
..W!X
UIW
1.0:0
108H
1!2
Brooklyn Fonrtb Av. Imp.
7«. 1895
Ill
Brooklyn Wallabant Bay
Imp. 7«, 1683
ia»
9,000 Brooklyn 78 Bridge boDd«.117<l<
BONDS.
9,000
& W.
15,000 Tol. Peoria
Y. City
ment
—
90 .National ( itlaen's Bank
10 Universal Life In?. Co
17JK
6.000 N.
c.
$8
20 Consumers' BcneUt Coal Co.fl 60
(West.
30
78
Queens County Ferry Co.
conv., 2d issue, due
7,000 Ttiird
1881
7t*,
X
1871
Avenue RR.
7s,
dne
108X®1(!»X
p. c.
Closing prices of leading State and Railroad Bonds for three
weeks past, and the range since Jan. 1, have been as follows:
Dec.
States.
Tennessee 68, old
6e, new
do
North Carolina 63, old
do
do
88,
Dec. /—Range since Jan. 1, ^B—
Lowest.
15.
Highest.
Aug. t5
41V, Ala Dec. 15 50
•40
Aog. 81
40)4 Jan. 4 49
Dec.
1.
8.
•43
•is'
•77
Virginia 68, consol
2d series...
17)i
•78
•84)4 •84)4
105)4 •108
long bonds
*m% *mH
DlBtrict of Columbia, 3-858 1924
Railroads.
Central of N. J. Ist coneol
June 23 19 Not. 1
13
Hept.»l
78)4 Jan. 29 77
32 Jnne 23 48)4 Feb. 28
Jan. 3 108)4 Sept.»
107)4 100
•88
m5i. 14
66)4 Jan. 21 75
•16)4
•77
*WA
-
•81
71
Sept. 15 112)4
79)4
Jan. 11 111
Central Pacific Ist. 6», gold ... •1C8X •1C8
108)4 104
Chic. Burl. &Quincy consol. 7s
•lllK 112)4 107)4 Jan. 4'112)4
Chic. & Norlhwest'n, cp., gold x92J4 •92)4
91)4 85)4 Jan. 8 96-S4
St. P. cons, s fd, 78 •87
83
Chic. M.
88>4 79)4 Jan. 3' 93)4
3112
Pac. Ist, 78
112
Chlc. R. I.
llljf 11154 107)4 Jan.
•106
•108
108
Jan. 28 115)4
let,
7s,
extended
<108
Erie
Aug. 19 101
98
Mich. Sa.2d cons.cp
L«ke Sh.
May 5 107
Michigan Central, consol. 78. . •162'
loiji 99
•118
114
Jan. 4121)4
Morris
Essex, 1 st mort
Oct. 8 12.3)4
•lis" •118!U lis'si 118
N. Y. Cen. & Uud. Ist, coup.
•80
•81
Nov. II 100)4
78
Ohio
Miss., cons. sink, fund •bl
120 114)4 Jan. 11 1»)4
Chic. 1st
Pitlsb. Ft. Wayne
St. Louis .t Iron Mt.. Ist mort
loik loiii lOlH 95 Jan.
Union Pacific Ist, 6fl, gold
105)4 106?J 105!/, 102)4 Jan. il07
sinking fund...
do
91)4 87J4May 20 97.>4
•^OH
91)4
&
•80
&
&
&
.
&
•
&
This
18
the price biu
8
Ang. 26
Moil.
June 17
Jnly 18
Jnne 19
Dec. t
Apr. 7
Hept.20
Mch.2a
Ang. 16
Mch. 4
June 8
Auj. 21
Jnly
*m% Kept.
;
no
ecUe
was made
7
ept 21
Feh.
'eh. 21
at the Board.
Railroad and msceUaiieoaa Stocks.
—The
stock market
has not been characterized by any decided movcnaent, and pricee
have fluctuattd within a moderate limit. There has been talk of
another anthracite coal combination, not so much for advancing
prices as to limit production, but nothing has yet been developed.
The New York Central report for the year ending September 30,
1878, has been issued since our last, and a full analysis of it will
be found on another page the stock has advanced from 103 to
107 in the week, but whether this is on the strength of the
report, or on the prospect of a settlement of the railroad war, we
cannot definitely say. Lake Shore and Michigan Central were
also strong today, and it is again confidently asserted by some
that the differences between the trunk-line managers have been
adjusted.
The immense volume of business done on our leading
railroads lu the past two years, notwithstanding the commercial
depression, has been a matter of surprise to those accustomed to
study railroad matters, and it is proven that the decreased earnings have come almost entirely from low rates. It certainly
seems time that the railroads should be able to charge high
enough prices to keep them out of insolvency, and where the
responsibility belongs for breaking down and keeping down the
tariffs should be clearly ascertained by bankers and capitalists,
and decided expression given of their disapproval.
Total sales of the week in leading stocks were as follows :
;
Lake
Dec.
•'
"
"
"
"
9
11
12
13
14
15
Total
Whole stock.
I
demand
The new mortgage bonds on the Detroit Monroe
road liave been placed on the Stock Board list among
Lake Shore and Michigan Soutiieru bonds, and were quoted today at 105i bid.
The following securities were sold at auction this week
erally steady.
22,244,300
Closing prioy of securities lu London have been as follows:
Dec.
-Uange sluce Jan, I, Tti.
Dec.
Dec.
Lowest.
15
Bigbest.
8.
U.
n.
U.
State and Railroad BfM»d«._Southera State bonds are hardly"
as flrtn, except Georgias, which meet with a home demand. Louicisana consols are weak, and some of these bonds, as well as Virginias, have recently come here from London, siRce the deelin»
in gold.
hear that the North Carolina bondholders ar« ubont
to make another push to obtain some recognition of their claims
from the State, and hope that reasonable propositions fur compromise will be enUrtaliied by the present adminiHiration. Private telegrams from New Orloxns 3tate that the January interest
on the consols will be paid, but the bankers here have not yet
received orders, and the payment is not considered certain.
la
November, parties, representing $2,770,000 of old bonds,
addressed the Governor, and requested him to call a meeting ot
the funding board, that their bonds might be funded, and baek
interest paid on the consols issutd for these, before the January,
1877, interest on consols previously outstanding.
No reply has
l)een reported, and as the consols to be issued would have over
17 per cent past due interest to be paid, it is snpposed that the
delay in funding arises from lack of funds to pay this amount of
Missouri
1875.
1874.
.
Differences.
Dec. 11.
Dec. 12.
$91,300 8268,3:i0,400 l281,9O!,300
$256,681,080 Inc..
;2 9i3,40(i luc. 2,43'J,-3«0
lo,J3.),4uu
I4.ais,8;0
iJ.OS-Mi'O Inc.
79,300
59,lli.300
24,814.300
2M.-50,80J Dec. 9,471,200 SO6.9tl6,90O 518,408,000
43,820.900
49,470,300
3«,3ra,900 Dec. 3,449,800
1876.
,
O^'T- q
We
liavo rnc«nt.Iv be-in Aonoiiiiofld
niafrUaiioons.
Weetem Union Telegraph (guar
.
.
.
Erie.
8,800
11,833
Shore.
48,MO
lo.aoo
84.3
27.400
88,' 55
12,-i00
37.8'JO
9,900
48.900
930
54,030
.780,000
We«t'n Central Mich. Del.L^ Si.PhuI Faclflc
pref.
Hail.
Union, erf N.J. Cent. * W.
7,856
6.800
2.8:0
3.021
6,8)0
4,625
760
8,060
600
4,110
3.9:5
4.645
9,400
6,)50
1,600
3,270
4950
5,657
l.'i,451
7,790
3,900
»,6«)
8.10U
7,10)
80,918 22.044 31.127 42 861
SJ3,485
494.865 337.874 S06.00J 187,382 258.890
1,800
7,400
2,000
.\70O
7.600
4,700
4.8oe
4,900
i,oeo
3.680
s,ei»
2,90»
29,200 19 450)
122,744 200,004
The total number of shares of stock outstanding is given ia
the last line, for the purpose of comparison.
The daily highest and lowest prices have l)een as follows:
.. .
....
..
.
..
,,
.
.
,
.
:
:
.,
.
THE CHRONICLE
jr
r
December 16, i876.
table will show the course of gold and operaGold Exchange Bank each day of the past week:
The following
tions of the
Quotations.0,Vn Low. High Clos.
107« 1(7«
Dec. 9..., 107 ii 11.7
"
107
11.... IWH,
Monday,
107)t' 107H"
12.... 1U^« !07h;
117^4
Tuesday.
13 ... 107 « 107 ii 10; Ji 107%
Wednesday, "
*'
1(17'/, lOVX '07 y. I07H
14..
Thursday,
*'
15.... 107 Ji 107>4 107*4 10:%
Friday,
4K.S4)i
lialances.
S5K
.41*
l»K
100
TOJt
71
71
i2
Cd.Chlc.ftl.C
Scl.A H. Canal
Dul. L.
•Erte
& We>l
'Hu. «St. Joi Max
Current week
Previons week
January 1 to date
....
.
United
Pine silver bars.
Fine cold bars..
,.
.
.StatcB.
SOK
61
59
60«
51
53K
51
51
Sales
ofw'k.
Shares
31
HO
was made
Atlantlc & Pacific pref
Atlantic & Pacific Telegraph
Central of New Jersey
693
22,010
7,150
.
.
ChtcaKO Mil. & St. Paul
do
pref...
do
Chicago & Northwestern
do
pref.
do
Chicago Rock Island & Pacific.
Colnmbus Chic. & Ind. Cent. .
Uelaware & Hudson Canal
Delaware Lack. <fc Wertem
29,80,1
5,600
5,710
19,675
1,500
8.027
42,861
.
.
Erie
154,030
St.
do
Harlem
Joseph
do
pref
400
300
at cue Board.
m
lAke Shore
Michigan Central
River.
JPaciflcMail
Pacific of Missouri
Panama
f;aick8ilver
at. Lonl^ Kan. City
& Sonth'n
& North, pf.
Toledo Wabash
Western
t.
Louie
I.
M'ntain
Ji
.
•Union Pacific
-Adams
h xpress
,
The
.
a Co
iate.si
1876, to date.-
1,
1875.
18^4 Nov. 16 46X
49J4 Nov. 1" 84 *i
a\% Sept. 27 45J4
6 67>i
555i May
"
2
Oct.
6;^
2>J Pec. 11
61)4 Oct. 2 125
ni%
28>i\ AQH
51
67!i
1
Mch. 13
!
Feb. IH 33 'ii 48%
Feb. V.
Feb. 16 !001<il09%
Jan. 88
8
9X
Jan. 13 llOJi 124
120H Jan. 3 106X 123
64H Oct
7X
Bii' 18
17!? 8H'/4
99X 110
"
Feb.
I
23^ Mch.
22H Jan.
Dec, 11
lOX Ang.
13 laji 35^4
31 15% 3014
31 SO!*! 37}?
14 127X1133
13 SSi^ilOfi
17 51!4| 60%
15 53
82!^
15 100
101%
1
143i!
Six
17 30% 45%
31
TX 65
24 110% 172
25 13
85
9 18
27
45
21%
Jan. 17
80)^ Jan. .31
2!4
36
7o;i
Aug. 16 !18
6ill4
Dec. li 67
Feb. 14 50
2,210 49y, Dec. 13 765i July 10 41X
14S 79
Sept. 27 91
Feb. 14 71
IMX
% June 12;
57Ji
May
251
63% May
lODiJan.
and the
railroad earnings,
dates, are given below.
'ings of ail railroads from
—
Low, 'High
Highest.
1
Sept. 5:
Jan. 81
U}i May 25 22 Feb, 24
20JS Sept. 151 109 Ji Feb.
Ij
Nov,
8
74X
65
'
Wells, Farso
Whole y'r.
Jan.
Lowest.
19X
1,850
30,913
436
Western Uuion Telegraph
i
26
11,3%
-American Express
United Slates Express
prices since Jan.
185i Aug. 23 .33X Jan.
" 145
1,120 130H Jan.
Feb.
2,613 65
Dec. SlO-SKMch.
223,465 48Ji Sept. 5: 68*4 Jin.
31,127 34H Sept. 51 65X Mch.
16,557 98
Sept.26 117)!f Feb.
Nov. 20 84% Feb.
6,700
19,450 16;i Apr. 10 39% Jan.
100
I!4 Sept. 9 16
Mch.
255 122
Nov. 21 140 May
250 10>i Nov. 16 20Jt Feb.
200 10
Nov. 16 26X Mch.
Feb.
3,400 2iH Jan. 7 &3
niinois Central
N. Y. Central & Hmdson
Ohio & Mississippi
—
,
totals
The statement
from Jan.
82
!i
81%
65
65X
92
1 to latest
includes the gross earn-
which returns can be obtained. The
columns under the heading "Jan. 1 to latest date" ft-rnish the
gross earnings from Jan. 1, to, and including, the report mentioned
in the second column.
,
Atch. Top.
&
S.
Fe. Month of Nov...
1876.
f2i5,:<00
Oct...
of Dec
144,422
Bur. C. Rap.
Nonh.lst week
28,615
Cairo
St. Lonis
Month of Nov..
20,189
Canada Southern. ..1st week of Dec
28,380
Central Pacific
Month of Nov.. 1,678,000
<»icai.'o
Alton . .1st week of Dec.
t2,»14
Chic. Dur,
Quincy. Month ot Oct.. 1,369,869
Chic.Mil. &St. PanL.lstweek of Dec,
167,000
Cm. Lafay.
Chic. . Ist week of Dec,
6,018
Clev. Sit. V.
Del. .Month of Oct.
37,030
•Col.
HockinsVal. Month of Oct....
ri6,155
Denver &RioGrande. Month of Nov..
30,207
'I'Unt
Pere Marq, Montnof Oct...
Hannibal
St. Jo. .Month
Month of Oct.
Oct...
188,976
&
&
&
.
&
&
&
&
&
.
&
.
.
.
Houston ATexas C. .w%end.
.w'kend. Nov. 17.
17,
.Month
Month of Nov.
Nov...
Indianap. Bl. & W...l8tweek
.Ist week of Dec
Int. &, Ot. Northern. .Month
Month of Nov.
Kansas Pacific
.Month
Month of Oct...
Oct.
Loni.sv. Ciu. & Lex ..Monthof Oct....
Louiflv, Pad & So.W Month of Oct..
Louisville & Nashv.. Month of Oct...
Michigan Central
1st week of Dec.
Mo. Kansas & Texas. Ist week of Dec.
Mobile * Ohio
Mouth of Out...
Illinois Central
.
.
.
.
Nashv. Chatt.&St.L, Month of Oct...
Hew ersiy Midland. Month of Oct...
Ohio & .Mississippi ..8d week of Nov.
Padncah A Memphis .Month of Oct.
.
.
&
101,.39O
680,106
26,693
,
1875.
$178,954 $2,38
10.3,222
to latest da!e
2
.64;!
7i3,,S6l
8i,i34
I,060,I9J
216,181
.'iP.OS?
1.6 0,161
85,'!
1875.
f 1 30:,775
71,(31
1,225 776
95 :,338
1,I.-.7,861
1,6!3.8,^6 16,773,166 r\69:i,8)4
91,W9 4,6t8,675
1,188 610 10,151,013
194,885 7,612,139
9,112
348,922
48,:M9
317,081
93,
Erie
Si-L.A.AT.n.ibrchs)
L. I. Ml. ,&. South.
SL
.
.
101 i,
176,774,(,O0
foreign and
for
@ $4 30
©8 92
@ 4 80
@ 4 05
16
a 15 "5
i;,
,'.5
84
126
—
&
Dimes
half dimes.
Lari;esilver,
;
t
Mexican
dollars.
94
94
—92 a -95
—
Five francs
I
&
9)
93
—
Xs&X*
I
® —100
a 4 85
®-71
—99 a —101
98
4 75
69
...
English silver
Prussian siiv. thalcrs
Tradodollars
—
buyers, and without tlieir purchases the msrket would have no
To-day, the rates on actual business were 4.811 for
support.
I)riuie 00 days' sterling, and 4.83i for demand.
In (iomiistic exchange the rates on New York to-day were as
follows at the cities named
Savannali, i offered
Charleston,
easy, S@i per cent
ic.@par St. Louis, |l 50 to $3 discount ;
CincinuRti, heavy, l-10@ic. i>er cent difcount
New Orleans,
commercial, ^@9-16c. per cent; Chicago, 100 discount.
S
Quotations for foreign exclimge are as follows:
:
—
30.248
89,638
173,911
99,890
773,092
-Dec. 15
60 days.
29,-857
4.79)(@4.80
Pans (francs)
Antwerp (francs)
(S4.82V
4.81X184.82
6.^:3%((45.^;o
5.20
5.2.i%®5-20%
Swiss (francs)
5,23%@5.8il
5-20%(a5-18%
5-2D ia6-17X
Amsterdam (gni'ders)
Hamburg (reichmarke)
188,4611
345,:i60
356,978
114,-579
41,179
465,266
136.898
iMOUNT OF-
Mewrork
Merchants'.
Mechanics'
Union
America
Tradesmen'a
Fulton
Chemical
Merchants' Kxch...
1,00('.,^J00
800.000
300,001'
1,000,000
1.500,000
Oallatin, National..
Butchers'&Drovers'
Mechanics & Traders
.i00,000
SO(i,0<iO
6'i,7l-2
219,804
155,886
53,280
88,516
19,732
336,0:M
10,853
Leather ManuJ
Seventh Ward...
State of N. York..
American Exch'ge.
Commerce
Broadway
Mercantile
Pacific
RenubUc.
Sorth America...
Hanover
Metropolitan
Nicholas.
Shoe and Leather
Corn Exchange....
-
162.100
35S,5U0
l,5.AhjC
3,;il'.0tC
5.;74.'JO0
I.57.<,'2vO
67-2,000
:i3,«o
2JS.200
122,600
791,500
195.100
597. lUO
2.1Sl,5l«
471000
3,105.700
I,582.1W0
9,5 'I.S
3.';89.S0O
3.W5,-200
4i'0.200
51,00(1
1.11-9.000
1.S3),81X1
23.700
l.(il4.:iK)
935,100
37(.SuO
su.ooc
7.110,0(X)
SH.OOO
Isi.W.lOO
;,2i0.3iXI
6 6il,6cc
296,600
'2.599.500
S62.4|)0
"2-7!>('
2.871.5U0
2.0"i,^00
2,685.200
897,200
45,000
19!.-20P
45.UO
4,
05,300
3
1U1.60-)
970,900
152.900
287.900
1.261.-00
3* .600
590,901!
lo;.-2<
42S.71IO
v:.23i.lif0
•50.001!
S.15;.50u
362.9J0
i»i.iou
781.600
119.100
3.3ll.5cfl
278,400
5,500
4-(<,00C
a.3»,ooo
418.100
2.3iS.l0C
1.91«.000
8,886.0,9
;).
1,000.000
3.1176tV
lS7,100
17 7(0
S3 700
1*1701:
5(i0;000
l.-j:>,OJC
15.00(1
1:4.1)00
l,OOO.COt
l3,W3.OO0
1. 6-26.000
™'g<»
SUl'.OtO
1.521.800
73.000
1,000,000
l.OOO.OOU
1,000.000
1.000.000
8,1 13.11-0
28.9u(l
37l,Soc
213,100
2,013,9oo
8.SW
2.123.90(1
-2!'.53.hO
255.9J0
83.700
}?i-h«-
l,9S;.'2;lo
i;u6,7oo
189.»U(i
53i.lo0
95.(x:C
29i,l'00
437.(1,0
90S,6,o
a.sTS.iu)
l,455.5oc
1.94).0C0
188,800
51U.S00
1,13!.10C
.i 521 1)0(1
J.gTJ.lOO
i3T5.600
5.63(1
IM.Soo
i:'.6'..0,io
1,614-600
13.671 8
17'2,eC0
2 3.3|K|
933,000
S03.700
3:,'t0
3 457.51X,
2.8-8 ajc
1
2.534. IOC
938.4U0
1.645.1)00
3,';06,OS5
2,910,138
3ll'.«JC
S.riiJiX
171,413
156,94'i
50C,(.0r
l,JOO,00(
500,00(1
51.3(0
10.613.10(1
300,001
180.000
lj);300
3, -^00
15.400
8.510
13).IlO
311.700
-510,000
1"-,.B0C
ii.v«o
1.71X1
122.6011
S 1,»00
133,000
i3-3B:(.
2 7.3;«
531,610
1,2;7.000
489X00
8U
S-KI
I8,:,S,«
(i.Olil.SfO
1,039-910
1.315,500
OJO
1,127.1(0
Sl.sflO
-,;3;
530,000
-MO.CCf
i:5'-3.10C
l.'2fS.0n)
54.300
1. 8 JO
221.300
230,OUO
-200,000
1,000,000
1,000.000
1,211.000
i.112.90J
i,;s9,soo
«78.435.'2(lll «'i3S.681
same
411.800
476.7D0
105.000
1S3.30O
2.700
254.500
S6.500
1,886.100
1.271,0011
1
l.50(i,(;G(
;
1,155,00(1
ll.lM.Ot
RW.cnj
W)00,OOC
Totol
No report
243,1-00
2,H3.8O0
5,000.000
10,000,000
1,000.000
1,000,000
Central National...
•
3,-29;.5M0
703 000
Second National...Ninth Natloniil. ...
Bowery
New Vork Oo.Nat.
Qerman American.
OryOoods
',l,569,i00
2.632.500
l,:3SO,8^8
Natlona;'...
6ft>b6
1,685.900
1.3;l.i00
1P3,500
15.e07.7l.i0
Third National
N. r. National Kich.
Tenth National
1,100
551,000
2,-i55,000
4,1-22,500
J;,000
5,000,001
First National
9.500
00
930.'
Tli^.OoO
l.U J.iOO
l,.'!6T,93i
180,000
2.878 .2L«>
7.SOI.30«
.-^52.600
800,000
400,000
850,000
300,000
2,675,899
2U.O00
4.767.0:
154,400
1,500,000
2,000,000
500,000
(Jrocers'
tlOD.
ras.cw
5.713,900
5.371.600
572.200
231,;«1
739.S.^
North Klver
East Blver
Manufact'rs'iMer.
Fourth National
6.80.1,797
493.8l«
6S4,700
302.700
1.317.100
2I3.CO0
;iij.i(x)
4.116.600
9.195.000
t9.il9,5l(l
441,600
300,000
400,000
Marine
Importers't Trad'rs
Park
Mech. Bank'gASBO.
395,3l0
tl.O 1,000
1,137,100
379.-iJU
11.3.500
1,1100.00c
1.500,00(1
Continental
Oriental
(00
1. .713
600
:,6SS,««I
6,853 300
a.9J;),3,X)
412,500
1.000,000
,
Clrcnla>
Deposits.
OX
200.000
400,000
300,000
2,000,000
450,000
Irving
St.
l?.'27b
(1.8JO
3,000,000
J.0OO,OOC
1,500,000
8,000,000
1,800,000
1,000,000
Phrenlx
City
Net
LegBl
Discounts.
|8,00(),00('
2,OSU,0(X;
Manhattan Co
Market
3,811,612
94 ji
(31
Loans and
Capital.
t^assaa.
9)9,-207
40)4
""
94%(a 95X
91J<® 96%
94%a 95%
9i%a 95%
New YorK City Banks. —The toUowlng gtaiemeni showB
the condition of the Associated Banks of New York Citv for the
week ending at the commencement of business on Dec. 0, 1876:
854,190
2,773,032
mfx
4fl%(a
dm
94
94
Berlin (reichmarks)
.'i2i",899
1,243,9;!7
1,175,44:)
"
94
94
84
4.b2
40
94!<
94Ji
:j9!i@
^....
Frankfort (reichmarks)
Bremen (reichmarks)
People's
7,12.-i.l28
4,83
4-81
.
Chatham
2,377,149
®i
Igi4-82
4-80!4@4 81
4. SO @4-8014
9,874,442
7,708.735
371.962
357,975
1,340,1-25
3 days.
Prime bankers' sterling bilU on Loudon.
Good bankers* and prime commercial .
Good commercial
Documentary commeicial
Cltlzena
368,547
809,671
1,590,720
a.591,820
6,647,607
1,375,841
!,S81,a53
2,600,181
941,9*7
377.008
4.171,101
6.371,526
2,993,695
1,508,598
1,411.487
548,517
;
;
;
4.:379,3(ll
W2
113,431
42,6.38
1
1876.
214,-200
518.431
115,808
72,784
881,607
143,525
70,165
75,786
21,210
337,223
11,885
129,000
57,047
Jan.
Month of Oct...
2,746,7.';6
2,798,718
1st week of Dec.
455,728
521,897
1st week ot Dec.
119,8 2 3,6)8,949 3,425,101
St.L.K.C.>tNonh'n.l8tweek of Dec
.57,541
2,9:il,890 2,4:)5,706
St. L. & Southea»tem.34 week of Nov.
-26,013
21,7.10
959,847
S84,('63
IM. Paul & S. City, *c. Month of Oct
115,68-2
11 ',945
776,212
651.139
Tol.Peoria&Warsaw.let we k of Dec.
S0,824
27.578 1,340,491
1.034,301
To). Wab. & West. ..Month of Nov...
3)1.534
395.9.7
Vlte Gold narket
Gold, having sold down to 107 early in the
Week, has since recovered partially, and closes to-day at 107J. The
•reported shipments at London have been of smaller amounts,
and it is prob vble that the unusually low price liere has induced
•some speculative support.
The low price has also enabled
bankers to import bonds, and unless there sboull be a material
advance in gold it is quite possible that a good part of the pupply of government bonds sold here in the next month or so will
•come from abroad. On gold loans the carrying rates to-day were
4i, 4, 5, 3, 2i and 3 per cent. Customs receipts of the week were
$1,0-54,000.
Silver is quoted to-day in London at 58d. per ounce.
Philadelphia
1,9!5,518
!075ii fl63,967,';0(
I
Greenwich
Latest earnings reported
Bur.&Mo Riv.inNeb.Monthof
115
Excli«ni:e,
58
53
50
90
107X
;o3%
lor
paraJiprem.
riie foreign exchange market has pursued a very
even course, with no transactions aside from the ordinary line of
business. The importers ot bonds and gold are the principal
^__
,
Total nales this week, and the range
were as follows:
&
.
.
Mexican Doubloons
90
'ST
90
Wells. Fart-o .. -87
* Thl8 ts Uie price bid and asked : no lale
Baimibal
85
73
95
30
15 55
184
3
4
X Guilders
3
Spanish Doubloons. 16
.
10-!<i
are the quotations in gold
J4 85
Napoleons
X X Reichmarks. .
West. i'n. Tel.
Adains E-xn...
1,746,913
1,2W,495
coin:
Sovereigns
St.L. I.M.&S.
St.L.&E.C.pf
«". Wab. & W..
Union Paclllc.
American Ex
m^
m
The following
American
.>«.Y.Ceu.*H.R
Ohio & .M198.,.
riuunc Mall ..
faolilcol Mo.
107
i'^ry.
.
.
ItSke Shore ...
MlchlKnq Cent
PiinairiA
ualclcsilver..
1,5I>5,4 44
1,213,603
1,591.734
1,439.978
2,195,076
1,662.910
1,506,320
1,471,300,
2.094,800
.
pref.
do
Harlem
UrCentral ...
.
CuiTency.
Gold.
J2,ni,'.»0 $3,311, V60
Saturday,
SU.CCO
:
133.liO0
93.900
9.900
0;« l2'i.9-3
4X
331,200
],(«;., loo
•0.000
13.(09
18S.01O
•.,612-5,0
(>79.U00
4.000
591.: 00
4,000
1.660,lOd
IS.VH.l'OC
-22«
OiO
niitn
13.639.^i)C
60.(08
7 O.Aic
SCOIOO
65:.i00
67K.J10
C67.1O0
»»7-6iC
12 217 300
(.o-esjo
ei.NO
6.018,0(»
1.753.100
4 5 6 8.C
5,683.100
7.637.110
»57.800
1,365.(100
l.tt:»,70«
4W.00«
S4!.0OO
1.237.000
22S,000
180,000
85.000
•258.80
90,000
49.40U
M.On
2.J0 1.000
1.869,1)0
f S6 373.90U ia04.650.800
as last week.
The deviations from the returns
294.0(10
of the previous
H5 03I-10O
week are
as
follows
Loans
Inc..
-.Inc.
Specie
UgalTenders
Dsc.
$91 300
2 439 3J0
1
Set Deposits
Der. M,ni,20O
Circulation
lao.
IWO0
3,li9.3«|
totals for a series of weeKs past
AggregaiB
CircuLegal
rlearln«*.
lation.
Tenders.
DenoRlts.
Soecle.
The following are the
Loans.
0(!t.28...
Nov.
Nov.
Nov.
Nov.
Dec.
Dec
I,...
11...
11 ..
48 86' 0)0
010
259 84 1 500
.CO f84 2
15 917 210
17.136-610
48.353.30
213 392,9
239-652 lOU
n.5«9.lOO
1V65.:.00
41.16 .900
43.1(8.000
21'!.! SI ,5-10
213.3ir.
m
21 1,313 913
23...
239,117.1,10
•257,«S7.:0)
-20.1184.3)0
1 1,211 ,4')0
20),9:v2,4:)0
2....
9 ...
3 6.58J.7:0
256.631, OJU
20.481-lOU
22,9.3.100
S9Jt:S.7IO
3e.373.30a
207.1;2.(IOO
2O4.3;;O.30J
no
15 09.
15 09 1.6
I3,06i,3i«l
1.5, 7i,6l)0
i5.;3;.7i)0
W
14.932 870
13.(132.180
397 .60;, 125
431,2 IS 321
3.1.152 935
8«, .13.456
3«
912,252
359.693-796
3J7,3;i,549
—
).)
. .
«
.
..
.
.
..
.
.
.
.
Bond) and
active Railroad Storks are quoted
BXOTTRlTlKe.
State
Alabama
Bid.
:s, 18H)
do
8)«
4
4
4
4
no
68
lUlDolB
»4
do
do War loan
KeatDckyta
lli3
do
1878
Long bonds, due
loajd
Fondfng, due 18M-5.
A
Ban.
.livi
189^.1107
.
Winona A
due 1886.1 107
do 18«. U7
St. Jos.,
do
New York
Peninsula 1st mort., couv... 100
Chic. A Milwaukee, Ist mort 107
*S2-'90.
Asylum or Un.,due
State-
C. C. C.
do
Morris
Caual Loan, 1877.. .
do
1878....
6«,go!c!, reg....l88:....
•a,
North Carolina—
68, old. J. A J
A.&O
do
K.C.RR
....
New
bonds, J.
ft
40
40
Buff.
7
2
2
I
;
.
7b of 1888
do
68,
new
33
33
33
I
6e,
do
do
do
77
88
..
68
do
do
consol.
N.Y. Central 6s, 1883
«««
do
do
do
do
do
Railroad Stocks,
(Actirepre- Vustp Quoi\i.
Susquehanna.
85
Chicago & Alton
.....
do
nrcf
UO
10.1
City.
US
37
90
M
114
31)
...
iH)«l v.yi
Morris & Essex
Missouri Kansae & Texas
New Jersey Soutlu'rn
N. Y. New Haven * Hart. 150
Ohio & MIsslss-'Dpl, pref
U
Pitts. Ft. W.&CTi., guar., 101
do
do
specittJ.
Rensselaer & Saratoga
110
Rome & Watertowo
&T.H
...
10
Canton Co., Baltimore
2B
Cent. N.J. Land & im. Co. 10
Delaware A Hudson Can'] TOJi 70«
American Coal .. ...
Oonaolidat'n C oa] of Md.
MarlpoHa L. dt M Co
do
do
pref.
Cumberland Coal & Iron.
Maryland Coal
"s"
.
.
Pennsylvania Coal ......
Spring Mountain Coal.
.
2d
1
bii
Railroad BoiidH.
Eschanue I'rictiH
& Busq., It^t boade III
do
'd
101
do
do
3d
f*o
do l«tOQD#. gUHr.
I
Cleve.
mort
Income, 78.
iBtCarou'tB
.
W. A Chic,
do
do
niscePoan Stocks.
OlBtrlctTt'lcKrapb.
do
do
do
puts. Ft.
Warren
ilbauy
do
UtexL. G. ;s 60
Grand River Valley 88, st m t.
Houj.ftTexaaC. l8t78,gold..' S8
do
consol. bdB..' 70
l„
do
do
istm.
2d m.
3dm..
Indianap.
Iowa
Indianapolis*
Louis 78
O.N. conv.
H.
ft
.laekson Lans.
ft
88...:
Sag. Ssof
Kal. Alleghan.
ft
Kansas City
Cameron
consol., s.f.
4th mort
105)4
Ind. C, ls( mon 36),
do
2d mort
Watert'n ft Og.,con. Ist
St. L. A Iron Mountain, Ist m 101)4 102
do
do
2d m..
Alton ft T. H.Alton ft T.H.,lBt mort ..
108)4 110
do
2d mort., pref..
do
2d mort. Inc'me
70
Belleville &S. III. H. Ist m.8s
Tol. Peoria ft Warsaw, K. D...
do
W. P..
do
do
do Bur. DIv.
do
do 2d mort..
do
do consol. 71St. L.
.
Wi.bash, Istm. extor>d.
do
iBlm.St.L. dlv.
do
2d mon
«i.
do
T8, land grant, Kid
do
'8, do
new. gld
934<
do
6s,gld,.Tune&l>e('
do
68, do Feb. ft Aug
do
7b, :8;6, laud grant
do
"s. Leaven, br'nch
do
Incomes, No. l;
do
do
No. 16
do
Stock
Kalamazoo ft South H. 88, gr
ft Pitts.,
ft
..
Pads cxieiislon, gold
Hansas
ft
G. R.
8s, gr.
il s
Kau.C.st. Jo. andC.B.Ssof
do
Keokuk
ft
do
do
do
Des Moines
mof
funded
8.
.
.
.
.
'8^
do
pref. stock...
Shore UR. Istm.g.'B
Lake Sup. ft Miss. ;!t Tb, gold
65
90
do
I
I
"*&
86-
i
78
!"
stock
ft
ft Col. 7b, guar
..
do
Tb. certif ...
Brunswick end. ;b..
Augusta bo.ids..
do
do
endorsed....
stock..
.
I
Macon
Macon
I
i
ft
do
Ist Ta.
2d
.
i
.
.
m
Ts
do
do
ft
'
75
48
5
:s
12
la
80
«o
88
15
75
50
90
.
2d m.Sa ..
P. Ist 8s.
West
Ss, Interest
•85"
80.
70
TS...1
20
31.
3.1
40
40
3»
15
88
I
2d mort. 8s
Jacks. Istm ..
do
certlfs 8s.
25
10
90
93
ft
70)^!....
Chattanooga 68.
80
PeterBburgl8tm.8« 80
.'^ashvine ft
Norfolk
ft
do
do
....
30
Northcaatern,
C,
{
75
Ts
S.
I
2dm.Ss 60
m, 8s.
2d m. 8s..
I
ft
Poto.
6«..
.
.
do
do conv. 7
Rich, ft Danv. Ist consol. 6a..
Southwest RR., Ga., Ist m
S. Carolina RR. 1st m. ,8. new
do
6s
do
78
do
stock.......
WestAlabama2dra.38. guar
do
iBt m. 8a ...
...
18
20
6
PAST DUE OOaPONS.
so
Tennessee Stale coupons
South Carolina consol
Virginia coupons
do
cousol. coup
\trt,,,n',Iq ('Irv tjnupona
*
Price
nomluM.
,
90
79
78
M
78
85
1st
do
Orange ft Alexandria, Ists, 6b. 82
72
do
2ds,6«.
60
do
3dB,8B..
via
do
34
4tliB,8s..
iRIchm'd ft Petersb'g 1st m. 7s. 94
Rich. Frc'ksb'g
.
76
88
38
02
—
do
Stock
Memphis ft Little Rock 1st Ml.
:8t
M
}»•"
7*)
.
Memphis ft Charleston
88.
70
30
JO
.
^. Orleans
25
'
74
i
43
69
80
<»
m
42
i
^<it
65
m
10
2»
. .
.
S7
57
7
SO
42
SO
.^
guar...
75
.
m
stock
3i
«
6
4
.
70
70
80
end.Savan'h.
do
.Montlcelioft I*. lervlB :8, gld. • ..
MoutclKir 4 G. L. «l -«.
...
75
do 2il m. Ts (old Mont, "sts) ....
Mo. K,.vlex l.^r. 78a8S nted
do
2ln).liM; me
Mo. R. Ft. S.ft GiTlJ Istm. lUB.
• Price nominal,
t And accrued In erce..
ft
Mout. ft Eufaula 1st 8a, g., end
Mobile ft Ohio sterling ....
do
do ex certif.
95
t05
90
...
Montgomery
•..
8B.-
TO
M>
«6
I
gold ) coup
8B,gold( on.
MlBsuslppI Central
4©
45
43
40)4
j
6b,
75
—
at
80
s«
!...!!!
""
J^
Tl
35
50
Bo-
Carolina Central 1st m. 6«, g..
Central Georgia consol. m. 78.
do
stock
Charlotte Col. ft A. Ist M.7i..
do
do
stock
CharleBton ft Savanuah Cs, end 30
Savannah ft Char. 1st M.Tb...
30
Cheraw ft Darlington ds
i....
East Teim- ft Georgia 6b
75
Kasi Tcnn. ft V». fs end. Tcnn
E. Tenn. Va. ft Ga. Ist in. 7b.
do
do
stock
60
L. Ont.
Leav. Law. & Gal. let m., lOs.
Logans. Craw, ft S. W. 88, gld.
Michigan Air l.lneSB
I
2d mort. TB
Gulf, consol
do
90)4
W.
SIX
"...
Greenville
'9s • ...
Ts.
Int. Ss'
.
Georgia RK.
106
70
IB
lot
do
do
do
77
88
....
.
Gt. Norl h. 1st Is, g
International (Texas) :6tg ..
Int.
do
ft
St.
&
Houston
Rome
Vol.
ft VIncen. IstTs, gr..
Falls ft Sioux C. 1st 7e .
do
Col. Chic,
.
.
|
Ala. ft Chatt. I8t m. 8s, end...
Ala.ft Tsnn. Rlv. Ist mort 78.
Atlantic
80
»
45
85
30
2S
48
20
70
70
RAILROADS.
—
!
Pacific land gr. irf
South Pac. KR. bds. of Mo
Pacific R. of Mo., Ist mort.
RR—
do
84
i
A
!
'..'.i
es.
Ts, old
7s,
new
do
S)
38
10
41
2d7B
81
22)4
.
WlJm'ton, N.C.,
i
do Cal. A Oregon Ist
do State Aid bonds. ..
do Land Grant bonds.
Western Paclflc bonds. ..
Uniou Pacific, Ist mort. b'ds
do
Land grants, "i
Sinking fund...
do
Penn.
.
.
Klchmond
s,
do
IB, equip...
ETanSTllIc Hen. ft Nashv. 78.
38
Evansvllle, T. U. ft Chic. 7s. g. '76
F.lint Fere M. 7s, Land grant. .
76
'50
Fort W., Jackson ft S<w. Ss
Grand I.', ft lud. '.st TsTguir.
88
do
1st L. G. Ts... IM
2d m., s.f ., 188
mort. 7s, coup.,
78. reg ...
do
2d do
•;o
do
ISC spring, dlr..'
•Pacino RallroadB—
Central Pacific gold bonds
do Sau Joatiuin branchi
100
.
(Stock
do
istm., reg.
.
1^
do
do
pref.
Terre Haute & Ind'polls
Toledo Peoria & Warsaw.
Toledo Wab. & W., pref.
7»
Hi
77
27
r llroad, 6a..
82
wharf Imp 'tB,7-:o 85
78
.
Savannati
.
'
76
«*•
Norfolk 6s
Petersburg 68
—
iNorth Missouri, 1st mort ..
lOhlo A Miss., consol. sink, fd
do
consolidated.
Atlantic
do
do
'
I
fiO
.
g.
n
7s
.
84
83
L. bds.
Columbus, 6a. Tb, bonds...
Lynchburg 6b
.Hacon hondB
Memphis hoods C
..
do
bonds .\ ft B
do
end., M. ft C. RK ..
.
Mobile SB (coops, on)
do 8s (coups, on)
do
new couBolfl
ii
'MoBtgomerySs
Detroit & Bav City 8s, guar..
TO
Det. Lans. ft Lake M. Ist m. oa 30
do
2d m. 6s. '•,.•
„
DntchesB ft Columbia 78
IS
Denver Pacific 78, gold. .
80
..
Denver ft Klo Grande Ts, gold. 47) j 52
Evansvllle ft Crawfordsv., 7s. . 85
leo
Erie ft Pittsburgh iFt 78
95
I
JoUet&
Long Islsnd
112
112
30 years, tfl8
l«t 7s, 10 years. 05
16 76. 20 years..
V. Ist
N»,
.
C, 7e, F.
Columbia, S^C, 6a
Ft. Dodge iBt 78
Det. Hlll«dalc& In. KU.88...
I
Chicago
.
78
78
SS
8b
Charleston. S.
Des Slolncs ft
.
I
Hock
ft
do
do
7s,
let
lOU
112
Connecticut Valley fs
Connecticut Western Jst7s
Chicago ft Mich. Lake Shore
Dan. tJrb. lil. ft P. 1st m. 78, g.
104
.
I
Erie pref
Indianap. Ciu.& Laf
Am.
do
Harlem,
do
09J6
Chic. Bur. & IJnfncy
Clevc. Col. CIn. 4.1.
Cleve. 4 Pittsburg, guar..
Louis Alton
Col.
6b, 1887
68, real estate,,
66, subscription
ft Hudson, ist m., coup
Hudson R.
Central Pacific
81.
105)i
107
106
108
Marietta &
Mich. Cent., consol. 7b, i90j ..
do
lBtm.88, 882, s.f. 113X
equipment bonds.
do
New Jersey Southern Ist in. 76
consol., 2d serkis
deferred bonds
Dubuque & Sioux
A
Cons, reg., Ist.
Cons, coup., 2d.
Cons, reg., 2d...
CIn. 1st mort.
..
do
do
I
.
lOl
lOS
losx! lOS
waterworks.
10«H Augusta, Ga., Ts, bonds.
CharleBton stock 6b
U2
6thS.,doi8s...
.
93
108
109
Atlaiita,Ga., Ts
89
"Si
«l»l 109)4 111
Quincy ft
" Warsaw Ss.
' Grand
110)4l
nil
lluofe
Trunk....
20
Chic. Dub.ft Mlnn.es ..
Peoria ft Hannibal H. 88.
Chicago ft Iowa K. Ss ..
02
American Central 8e
102)4
j ^
Chic. & S'thwestcru 78, guar
Chesapeake ft 0. 2d m., gold 'is
Chicago Clinton ft Dub. 8s
Chic, ft Can. South :stni.g.7B.
Ch.D.ft v.. I.dlv.,lstm.g.78. 10
Chic. Danv. ft Vlncon's 7s, gld 40
i
ik
111)
V
80J4
.
District of ColumbftiS.SSs
do
small..
do
registered
&
.
Ash., old bds
do
new bds.
Brie, new bonds...
Slate Line ^s
A
102
51
7s, gold, 1901-19.0. J.ftJ./
7s, gold, 1892 .... J.ftJ
Ids, 1881
J.ftJ.
10s, pension, 1894 . J.ftJ
I
Kalamazoo & W. Pigeon, ^st 83
Det. Mon. & Tol., Ist 7ii, 1906.
Lake Shore DIv. bonds
104H
do
Cons. coup.. Ist 106
254
28
89
ex matured coup.
Albany
1877...
new bonds
A
100
108
W"
Mich. So. 7p. c. 2d mort
101)i
Mich S. A Nllnd., S.F., 7 p.c.
Cleve. * Tol. sinking fund
Buffalo
Buffalo
do
do
do
do
1I0«
.
do
Lake Shore—
do
Vlrglola-
6b,
68,
m.,
&1
Sooth Carolina new consol. 6b.
Texas'8,1892
M.48.
10
.
2dm.
Is
iBrokeri' Ouotations.}
105
106
20
land m. 78...
3d 8., do Sj
4thS.,do8i...
5IhS.,do8a...
68,
Loganaport
ft
OITlilS.
lilT.,
do
City, Istm.
do
2d d<T.
Minn., Ist mort..
A W., IBt mort..
do
2d mort.
do
40
4u
68, old
6e, new bonds, 1'66
6b,
do
1867
6b, consol. bonds
1st.
t
'»
guar
2d,
Alabama new consols. Class A
do
do
Class B 40
11:*
111
104
..
Ta,
Ist.
T. H.
ft
IConada Southern, Istm
do
with Int. certlfs
Central Pacific, 7b, gold, conv. 104
Central of Iowa Ist m. 78,gold. 33
do
do
2d m., 7s, gold
Nashville 6b, old
102
Keokuk ft St. Paul 88 ..
do
6b, new
Carthage ft Bur. Ss
101)4 102)4
Now Orleans prem. 5b
Dixon Peoria & Han. 88,
do
consol. <s..
O. O. ft Fox K. Valley 8s. »g no
&
Cleve. P'yllle
4U
40
85
..
series
1)8
78,1888
llndlanap. Bl.
113
lit
Mo.
do
do
do
do
ft
8 p.c.
Newark
STATES.
109
19P3..
10b...
do
ft
Soothern Securities.
'He
110
f
Hur. C. R. ft M. (M. div.) g. 7b
Cairo ft Fulton, let 7b, gold..
California Pac. UK., 78, gold
101)4
7b, 188S
7s, 18M
JJ.Y.&E,
do
Cedar F.
2)^:
I
Kon-fundable bonds
TeDoessee 6s, old
do
68, new
Bur.
Dubuque & Sioux
1
Funding act, 1866
Land C, 1S.''9, J. * J...
Land C. 1889, A. & O...
'
.
ClasB^
Jan. A July
April & Oct
106)4
.
Class 3
Island 6b
mort
do
do
large bds.
Han. A St. Jo., land grants
do
88, conv. mort.
Illinois Central—
South Carolina—
6b..
m
Ist.
2d
V7
106
»
St..
78
LoulB VaodalU
104
RAILROADS.
Atchison & P. Peak, 6', gold..
All lutlc & Pacific L. G. ee, gid
Atchison A Nebraska, 3 p. c.
do 7s, cons., mort., gold bds
do Long Dock bonds
J
Special tax. Class
do
do
Ohio 6b, 1881
do 68, 886
Kbcde
60
90
A.&O....
do
Essex,
do
4th do
5th do
18;
J.* J...
Toledo ;J0»
Tonkers Water. due
bonds, 1900.... 90
COQBtrUCtlOD.
78. of 1871 ,..
let con. guar.
108
Erie, 1st mort., extended
do
do
eDdoreed
do 2d mort.,
18^9
18]
.. ..A.&O...
do
do coup, off, J. & .7.
do do oir, A.&O
Foodlngact, 866
do
A
07
06
S3
17.
go
Tb,
WcBt WlBconBin Ts, gold
Wisconsin Valley 8s
Mercaut. Truat real e8t.niort.7s
no
lOS
'85..
m
Union Pacific, So. branch, ••,g
Walklll Valley !8t Tb, gold.. .7
'm
ion
.
Western, Vd m...
do
7b, couv
do
do
do
do
do
do C0up..?887
do loan """"
do do .1891.
1892.
do do
I8>3.
do do
6ff,
&
do
Oswego
C.BI. Ist mart.
ft
Cnlon
107
107
Poughkeepf^le Water...
104
Rochester City Water bd' ,'9t 100
Ind'B IBt m. 7b, S. F. 107
conBoI. m. bonds
Del. Lack.
101
6b,
68,
6«,
6b,
6a,
A
\v*
71
St.L. A So'eoBtem 1st ~b, gold.
St. L. ft I. Mt. I Ark. Br.) .a, g.
Southern Central of N. V. Ts.
107
112
100
f
KowarkClty7B
do
Water 7b
Oswego
I
ft
do
t
t ibe
+ 107X 109
,
M
bds., 8a, <th series
do
SaodDBky ManB.
....
6b
il»
100
* St. L.jBt 7s. gId
K..I.
do
IndlananollB 7.80b
Long Idand City
2d mort
.
Bt.Jo.
7b, water
7b, river Iraprovem't
do
7s, various
Cleveland 7«
due
do
iKockf
Hondout
t 108
"~
t
+ 106
do
I_
Sioux City ft Pacific «•
Southern Hlnu. construe.
80
Albany.N. Y., 68
Buffalo Water and Park
Chicago 6b, long dat«8
do
7s, sewerage
Hartford
'
i:;.-
100
St.
Detroit Water Works 78
EllzabelU City, due N5.
a
.
CITIES.
St. Peters, Ist m..
do
I
Bounty Loan, reg
do
coup
A
. .
Osw. Mid. ist ;b, gold.
do
3d 7b, conv.
Ist m. (Id. 7 S-IO ..
Omaha ft HonthweAern RR. it!
ft
,
ft Koine 7b, guar
...
Peoria PckIn ft J. Ist mort ..
Peoria ft Kock I. ':s, gold
I*ort
Huron ft I.. M Ts, g. end.
104)4
Pullman Palace Car Co. stock.
do
18M
00
1877
do coup. 78, 1694
do
reg. 1, 1894
do
do
gold
Is,
Oswego
I^tst.
(.hroktrti' Ouotations.)
do
do
do
do
do
do
Iowa Midland, Ist mort. 88
00
Galena A Chicago Extended. 106K 107)4
gold
Ist 7s,
2d 7s
N. Y.
North. Pac.
raiscellaneoua
. .
Chic.
I
_
U8
do
it m. 7 310, do
7s, gold, K.D.. 102
do
Ist 7b £
do
do ..
:64
do
1st m.. La CD,
do
lBtm.,l.AM.D. B4K
do
Istm., I. &D.. 87
do
iBtm., H. AD. 87
iBtm., C. AM.. 100
do
do
Ist m., consol.. 88
w*;
2d m.
*u
ui.
do
uu
«1«
do
UU
N. Western sink, fund.' 108
do
Int. bonds. 1104
do
conBol.bds 103
do
ext'n bds..
do
1st mort... 106« 107
01>l<
do
cp.gid.bds.
reg. do
do
do
N. y.
DO
.
Am. Dock A Improve, bonds
A St. P. ist m. 88, P.l) 117^
do
do
do
do
do
do
do
do
do
u\J
do
M.J. Midland
New Jersey ft
Long Island RR., Itt mort.
South Side, L. I., iBt m. bonds.
do
Bink. fund...
WeBtern Union Tel., 19W,coup 108
do
do
reg....
no
Ch. Mil.
6s, 1883
7b, 1890
6s, due 1877.. ..
do
do
do
do
do
•ooiiTiia.
I
m
"n
YORK.
Mo. K. Ft. H. ft Gulf 2d m. lOi,
N. Haven MIddlct'nft W.la...
30
ft
m
.
NEW
IN
Bid. AJk.
Wabash.KOiilD't bonds.
do
eon. convert...
Hannibal ft Naples, 1st mort
Great Western, Ist m., 1888..
do
2d mort., 1893.
Quincv ft Toledo, Ist ni., '90..
Illlnoli ft So. Iowa, iBt mort
Lafayette Hl'n A Ml«"., Ist
Ilan. A Cent. Missoui'l, Istm
Pckin Llnc'iuft Dec't'r.lBtm
Boston ft N. r. Air Line, iBtm
CIn. Lafayette ft Chic., Ist
Del. ft Hudson Caual, Ist m.,'9:
am
Income...
Jollet & Chicago, Ist mort
Louisiana & Mo., Isl ni„ guar
6t.Loul8 Jack.A Chlc.,lBtm.
'^
Cblc. Bur. & u. 8 p. c, Ist m.
do consol, m. 7s
do
Chicago, Bk. iBland & PaclAc
do
8. K. Inc. 6b, '«9 101
Central of N. J., let m., new.
107«
81
do
do
1st consol.
78
do
do con. coot.
Lehlgli A WllkeB B. con.Buar
109
1U8
Louisiana 68
41
do
68, new
41
floating
debt
6s,
41
do
7b, Penitentiary 41
do
68, levee
do
41
do
8e, do
41
88, do 1875
41
do
do
88, of 1910
7b, consolidated i*H
:da
small
Ido
76,
Micblgan
Iflcbl
«8, :873-^
do
do
Missouri
aiCUBITIIB.
Tol.
.
78, new bonde
106X
7b, endorBed. ... 102
7b, gold ItondB.., loa
6i, coupon, 1877, ,
103
do
1S7»... 108
do
do
do
«
.
Prices represent the per esnt value, vshaiever the par magb*.
ABk
•ICDEITItS.
Bonds*
Connecticut
eeorgla >8
on a prtvious page.
Boston Hartf. A Erie, 1st mort
do
do
guar ..
Bur. C. Itaplds A Minn., IM7H,g
Chesapeake & Ohio 6b, Isi m
do
ex coup
Chicago & Alton sinking fund,
do
1st mort....
do
5s,18EC
8a, 1886
do
do
ta, 1888
..
do
8«,M.&E.RR.
do
88, Ala. ACb.R
do
88 3f 18K
do
88 of 1693
Arkaosaa 6b. funded
do 78, L. R. A Ft. B. IB8
do 7b, Memnhle A L.K.
do 7b,L. R.P. B. «N.O
do 7B,Ml9B. O. & R. R
do 7e, Ark. Cent. KR...
.
59r7
CHUONlCXJfe
GENERAL QUOTATIONS OF STOCKS AND BONDS
8.
...
.
THE
g;<?(De€emb.'r 16, 1876.
TI.
.
99
U
66
40
M
t5
94
69
90
80
SO
40
*.
71
96
88
45
SO
87)4 "ob*
93
42
70
30
sa
40
9?
S3
85
40I
!<4.
.
THE CHRONICl-R
598
[December
16,
1876,
GROSS BECIIPTB ASD EXPENSES.
3nD£Stmentg
BecHple.
1875-6.
Prom passeBgeis
AND
STATE, CITY AND COEPOBATION FINANCES.
published on the last Saturday
The
all regular sabscribers of the
:Ot woh month, and furnished to
Chkonicle. No single copies of the Supplement are sold at the
regular
as only a sufficient number is printed to supply
" Investors' Supplement"
$6,-62,968
t7,69.sa64
Fromfrci'.'Ut
is
973,29.-)
Cirsorvice
Rents
Maileervice
Telegraph
8v8,«lB
Int.rei.t
837.8(11
JSO.IMH
S3S,31»
6,3!5
263,869
XJ^eofroad
261,098
838,661
1,173.33*
$28,046,538
$29,027,218
$1,158,625
163 159
$1.635,«8
446W7
4,484
Miscellaneous
Total
Affloe,
New York
Central
& Hudson
Cost of iron usetl in repairs
Repairs of buildings
Kirer Railroad.
(For the Ttar Ending September 30, 1876.)
An abstract of the figures from the annual report of this company made to the State Engineer, for the year ending September
newspapers. From the figures
30, 1876, has been given to the
thus published we have compiled the tables below, and placed
in comparison the fieurea for the preceding year.
It is well known tliat the New York Central & Hudson makes
no annual report to its stockholders, and in this report to the
State authorities, which consists entirely of formulated statements, we are left without any special explanation of the several
items, or of their relative increase or decrease as compared with
previous years. The figures, however, are full of interest in
comparison with 1874-5, and it may not be amiss to call attention
to some of the salient points. The funded debt has increased
about tiOO.OOO, and this amount, as well as $1,593,000 for bonds
paid off in August la»t, we may fairly assume has been added to
the mortgage bonds of 1873, making their amount now about
The cost of road and equipment has increased
$26,600,000.
$1,467,637. The business transacted in the year shows quite an
increase in both freight and passengers. The gross receipts
show a decrease as compared with previous year of nearly
The
$1,000,000, of which over $500,000 was on passengers.
item of "miscellaneous" receipts, which has been made so
prominent in criticisms on the company's reports, is this year put
at $833,582, against $1,173,333 in 1874-5. On the other side of
the account, Mr. Vanderbilt's wonderful power of economy in
railroad management is shown by a decrease in expenses of
$1,137,936, leaving net earnings for the year $157,305 more than
in the year ending September 30, 1875. In looking to see where
this great saving could be made, notwithstanding the increase in
miles run, and freight and passetgers carried, we find the fol-
lowing
1875-6.
$1,158,525
163,159
ToUl
Total
Deerease this year,
14,551,754
$1,603,887
$6,115,641
Sept. so, ";a.
Sent. 3",
To
$19,345,9 !4
2,4SS 404
a8,5ti),435
and shops
Land, land damages and fences
Locomotives and Hxturcs, acd snow-plowa
Faesenger and baggage cars
Freight and other cars
Engineering and agencies
1!,654,886
1!, 814, 743
5,6*8,903
ll,03i.4.57
..
Horses
uamesB and
Hochester
&
stable
],'93343
H,64r,701
2 *;99 47-5
eqmpage
'
Ifl'sSS
ii'.'3
4,29;j
Lake Ontario Railroad
& Niagara Falls Railroad
Lowistou Railroad
Saratoga & Undson River Railroad
150,000
658,921
BufTilo
'.
Total costof road and equipment
loo'diy)
6.58
"21
.40;i,0tX)
400000
?,00;',oro
S OCO'cOO
$9?,822,811
JSe.SSa,";?!
The
rolling stock shows an increase of two second-class and
.emigrant cars and 713 freight cars, and a decrease of 1 locomotive,
11
passenger care, and 7 baggage, mail and express
DOINGS OF TUB TEAB IN TIIANSPOliTATION.
first-class
Number Of
miles ron by passenger trains
4,743 485
JJnmbei- Of miles run by freight trains
9,-n8,8t;6
Komberof passengers (all classes) carried
9,581,490
Number of passecgers carried one mile
353,136,145
Numberof tons (of 3,000 lbs.) Of freight earned...
t),8'J.3,680
Toul movement of freight, or number of tons
carried one mile
1,674,417,0.55
The rnte of fare for
was as follows
4
carp.'
561638
8;45:'8'6
1 4-ij Koq
S.SS'sSl'.lsii
6 ' 00l'r4
"
'
1,404.008,0>9
nATE?.
paBsenRcrs, charged for tho respective classes per mile
:
1875-6.
For flm-claas through pMaengom
For flrst-clas^ way pnssongers
For emigrant throiis;li pasengers
iFor emigrant
way passoDgors
cents.
.,"
,,
"
IV
2&2W
)v
i
21
I8;4-5
2.02
2
& i)^
1
03
1.27
8.9-20,84»
1,697,795
73.547
Atlantic & Great Western.— On suit of Kohn Reinach, of
Amsterdam, Holland, the New York Supreme Court has granted
an injunction restraining L. H, Meytr, F. Schuchardt and H. W.
Smithers, trustees, from taking any further action to secure the
proposed extension for three years of the so-called Ohio bonds,
which are a first lien upon the road in Ohio, and the principal of
which became due in October.
Chesapeake & Ohio Canal.— The Board of Directors has
appropriated $50,985 to pay the coupons of July, 1864, payable on
and after the 31st inst. in Baltimore.
Chicago Burlington & Quincy.— The stockholders of the
Chicago Burlington & Qnincy Railroad held a meeting in Chicago
for the purpose of ratifying the action of the directors in purchasing the Kockford Rock Island & St. Louis Railroad. There
were about twenty-fiv« of the stockholders present, and the
action of the directors was unanimously confirmed.
Chicago Danville & Vincennes.— In the United States Circuit
Court at Cbicago, Dec. 6, decrees of foreclosure underthe respective first mortgages were ordered to be entered for the Illinois
and Indiana divisions of this road. The decree for the Illinois
division provides that, ill case the toinpauy does not pay $87,500
gold, for over-due coupons, and $3,500,000 for principal, within 20
days, Henry W. Bisliop, Master in Chancery, ia directed to sell
the property at public sale, after thirty days' notice. The property
includes the main line from Dalton, 111,, to Danville, 1()8 miles,
with the branch from Bismarck to the Indiana State line, 4'6
miles; real estate, depots, shops, &c, and the equipment, consisting of 35 enjiines, 6 passencer, 3 baggage, and 3 mail cars,
310 box, 34 stock, and 436 coal cars.
The Indiana division decree provides that if $53,500, gold, for
cuupons, and $1,500,000 for principal, are not paid in twenty
days, J. D. Howland, Master in Cbancery, will sell the property
The sale
in Indianapolis, at public sale, on thirty days' notice.
will include the completed line from the Illiuois State line to
Snodiy's Mills, Ind., 195 miles, with 1'63 miles of coal branches;
the partly completed lino from Snoddy's Mills to Brazil, 43 miles;
all
real estate
4 engine? 1 passenger, and 1
33 box, 6 stock, and 75 coal cars, and all
and buildings
car, 2 caboose,
;
;
the franchises, &c.
The terms of sale of both divisions are 35 per cent in cash on
the day uf sale, one half the balance in three months, and the
The proceeds of the sale are to be applied,
rest in six months.
first, to payment of court coats and expenses of sale; second, to
slwOQ'S
9,940,401
3,999 473
16,985
1,917.711
1874-75.
$2.7S8.118
GENERAI. INVESTMENT NEWS.
11,682,950
i,'80.U3
$2,791.5-29
7,13:).5i8
rent of other lines
baggage
2,6S0,085
9, .98,741
$17,962,107
In 1874-5 the dividend periods being changed from semi-annual to quarterly made actual disbursements in the year of 10 per cent, and caused an
appurent excess of payments over receipts.
'75.
28,836,ii!i5
10,I4r.4i'4
Tobalance
$89,4-28,3e9
40,003,6fr
1,107
Bnptrstiuctnre, inclading iron
Passenger and freight station!, buildings, Sxtares
Forbridges
7«1.66»
291,487
48,457
F5!.808
3,761,724
$16,124,171
1875-76,
This makes a decrease on these three items alone of nearly
$500,000 more than the whole decrease in expenses of the year,
and leaves a margin for increased expenses in other departments,
which we find accordingly, to the extent of $353,663, under the
head of "expenses of .operating the road." The opponents of
Mr. Vanderbilt will probably make a handle of the remarkable
economy in the items above shown, to put in a claim that the
property has not been fully kept up to its former standard, but
of this we are unable to form an opinion without additional
information on the subject, and simply glv« the figures, precisely
as they are published.
STOCK AHD DEBT.
Capital stock
$8fl,43?,3:0
Total fanded debt (includ'g real es'. bds.&morts).
40,401,463
Floating debt, as by la«t report
COST OP KOAD AND BQUIMCKtrT.
For gradnation and masonry
$l!l,4il,106
transportation expenses
For interest
For dividends on stock— (8 per cent)
761,669
3 781,724
3I,8«6
1,017,424
3,25U,070
$11,765,118
$11,982,417
Net earnings
PAYMENTS OTHEB THAN FOB CONSTBUOTION AND TRAN8POBTATI0N,
1874-5.
$1,1)35,948
3,SB»,W0
S!«3,'n6
ReDairi< of fences and gates
Takes on real estate
Expensesof repairsof machinery
Kxpentes of operating the road
:
Bepairsof road-bed and railway
Cost of iron used in repairs
Kepalrs of machinery
railway, exceptinjj cost of
Iron
ANNUAI. REPORTS.
-^r.S.Ufi*
£!xpmfee.
Repairs of road-bed and
-subscribers.
1874-t.
S7,-276,817
17,899,701
1,07«,3S1
.
payment ol all liabilities incurred by order of court while the
road was under its charge, and, finally, to pajment of the bondholders, first applying on tho funded coupons all the money
received thereon under the various funding schemes, as of the
date when such payments were made.
Chicilgo Rocli Island & Pacilic— This road hereafter nins
through to Knoxville, Iowa, the new branch being just opened.
Connecticut Western
A meeting of tlie bondholders was
—
December 0, to consider the condition of
the company's affairs. The company presented, a proposition to
fund four years' coupons in new 7 per cent bonds. After some
discussion, a committee was appoint' d to confer with the directors and examine the company's condition, and was instructed to
report to an adjourned meeting to be held December 20. The
interest will have been in default six months on January 3, and
Ijeld in Hartford, Conn.,
after that time the Stale Treasurer is authorized by law to lake
possession of the road for account of tho bondholders, if the funding proposition is not accepted.
County Bonds in Missouri— Callaivay County.— In the
Supreme Court in tite case of County ef
Callaway, Mo.. Judge Hunt delivered the opinion of the court,
aiflrming the judgment of the District Court, Judges Bradley,
decision of the U. S.
Field, and Davia dissenting. Tula decision also affects
Pike, Audrain, and Howard-Counties in the same relation.
These bonds were issued under aa act of the Legislature ^of
Miller,
;
:
December
TBE CHRONICLE.
16, 1:J6.J
1P5», and as amended in 1808. Callaway Couniy subscribed
$500,000, uu'Ier the act of 1859, for the Louisiana & Missouri
KiverKailroad, and paid the coupons promptly for four years,
and $125,000 of tlie principal; but in 1873 repudiated the payment of the coupcins, because the amendment, it was alleged,
The case was
conflicted with the Draiie constitution of 18f)5.
taken before Judge Dillon of the U. 8. Circuit Court, who decided
the bonds ns valid, and that decision is now affirmed by the U. S.
Supreme Court.
Detroit Lansing A Lake Michigan.— The sale of this road
under a decree of foreclo-urH tor>k place at Detroit, December 14.
It -was sold for the nominal price of $60,000 to J. O. Shattuck and
The purchafersas«ume the mortgage
J. Ij. Stackpole, of Boston.
of |770,00». Messrs. Shattuck and Stackpole represent the holders of first and second mortgage bonds, and will proceed to organizs a new company, to be known as the Detroit Lansinj; & Northern
Railway Company. The basis up»n wliich the new company wll
be organized ia paid to be that tuo hondho'.ders will receive new
bonds at a di.scount of 50 per cent, from the old bonds, receiving
io addition a pro rata allotment of stock.
LonisTille Cincinnati & Lexington.— The monthly report of
November 1, to cash on
Receiver McLe -d for November shows
hand, $1^2,760; November 30, to cash received during the month,
$132,536; total, $(515,297; disbursemenis, $127,050; by cash on
hand to next month's account, $488,246. Earnings proper in
October, $113,430 operating expenses, $75,430 net earnings,
:
;
;
$38,000.
Macon
Se
Brnnswick Railroad.— By
virtue of authority given
1875, the directors offer for sale or lease
Brunswick Ha'lroad, together with the franchisee,
in the act of .March
5,
the Macon &
equipments, and other property which was sold on the first Tuesday in June, 1875. Sealed bids are invited up to 12 o'clock M.,
January
23, 1877.
Nortli Carolina State Finances.— From the exhibit of the
debt of this Slate, given br the Governor in his mecsage, it
appears that the total on the Ist of October, 1870. including
special tax bonds, was X41, 846,030 45, of which over thirteen
millions consist of unpaid intersst. The Governor remarks
:
'*
KothIi);;ha8 yet been done nnder the act passed by the last General Ae«emhly to cunipromfae the state debt. The amount of our Srate bonds, held
by thy few cr( ditors who signilied their wi.lin^nees to accept the propos-rd
compromise was so small that it was net deemed advleaMe to incur th.e expense of hiiviiit; new bonds i^repared, and of levying a epecial tax up 'n all
the taxable projp'orty of the State for the pufpose of paying the interest on
«uch « smalt ':mnunt. It is very important that we should contpi^mise, commute and settle the State debt, so that our financial condiiion maybe the
better known both at home and abroad, and oar public credit again established
-on a firm l>asis."
—
Ohio & iHiss. Mr. Torrance, President of the Ohio & Miss.
Railroad, has issued an address to the b )n'i and slock holders,
dated St. Louis, December 13, in which lie t^ays:
" Two great errors ware mnde some years since, from which the company
has never recovered, and which, attended and supplemented t>y constantly
decreasinst and unprofltable rates of competitive rraflic. have finally hronsht
the company down. These two errors w^ re the constiuction of the Loui vlllc
branch and the chingc of cauge. This branch has come far sh^irt of expectation, if, Irdeed, it ever earned interest on the rharges and expenses and Ihn
<faange &f gau;^e. whil-^ n seeming n»'C':;f8ity, did not Increase the earniDg* of
the road. Meantime, the funded debt of the company wna nearly douided
It baa been stiown in th** aiinaal ret)«rts of the conpiny, and Iat,;ly in that tt
the fiscal year ended June 30 last, that the company was carrying a largj and
in<-reased fiouting debt. Nevertheless, up to iliat time and the 1st or Ju'y
fotlowirg, the interest imd fcinkitig fund obligations of the company were
regularly paid at maiur.ty. Henceforward ensued a large falling off i,i the
not earnings, altiitiugh the tonnaae handed had largely Increased, and in the
four followiig months, ending October 31, the avcrai:e monthly net earnings
^eoreseed ne.Hrly 50 per cent compareil with the average of the prccediug
mouth!". TMi frightfully sndden decline, the injured credit of the company,
and the pressnre of heavy call loans, for.ed the ininRgo'ment. after due and
fcertous consideration, to co-operate w th certain of th-i m.jrtgage bondholders
who»=? coupons lay over unpaid, and o!h«r creditors of the company, and obtain through the courts the appointment of receivers of tlie proper its of ihe
compsHy for tl.e saf' ty of all the interests involved. The properties are n .w
utder the protection of the cour:a, and it is believed that the broatbing spell
afforded by that protection will enab'e the company to recover itself and satisfy ail juiit claims at no distant date."
;
Pacific
Railroad— " Net Earnings."— Judge
Miller, in the
U. S. Circuit Court, at Des Moines, Iowa, has rendered an imporlant decision in the suit of the United States against the Sioux
City & Pacific Railroad Company, for five per cent of the net
«ftrniDgB, under the law ol m(j2, creating the Pacific Railroads.
Tlie deuit<ion is that in ascertaining the "net earnings" within
the meaning ol the act, both operating and construction expenses
and also interest on bonds shall be first dedu'^ted. As in this ca:e
there is no residue, the suit of the Government is dismipsed.
This is said to be in accordance with previous decisions of the
Supreme Court in the suits of the Rublier Co. sgt. Goodyear, 9
Wallace, and St. John agt. Erie Rail way, 22 Wallace.
Toledo Wabash & Western.— The equipment bondholders of
the Toledo Si Wabash Railroad, through their counsel, H. S.
Bennett, have begun an action against the directors of the
Toledo Wabash & Western Railway Company and other.", to
obtain consolidated bonds to the amount of the equipment bonds
held by them. The papers set forth that the equipment bonds
in question were is'iued by the old Toledo.& Wabash road, which
in 1869 was merged into the Toledo Wabash & Western Railway
Oompany, the latter assuming all the band.i and obligations of
the former. Consolidsted convertible bonds of the new company
were.to be given in exchange for these outstanding obligations.
In 1870 the railway company created a gold bond mort
^age for $5,000,000, which was an inferior lien of the coneolidated mortgage, and now the road has been foreclosed under
this gold mortgage.
The case will come up for hearing in New
lork, before the Supreme Court, on December 20.
Yirgiaia State Finances. Governor Kemper in his late
message says that the State debt is often exaggerated by including In it tlie sum of $15,239,370, which, by the funding act, is
kaona aa " West Virginia's third." Another error is committed
—
599
Tlutt
In treating the sinkinK fund as part o/ the debt proper.
fund now amounts to $4,980,771 00, and consists of bonds heretofore redeemed, but upon which the State undertakes to pay
stated intere.'t to its own offlcers. lie says
:
The
literary fund," too, i« classed «» a Htate deW. where«« It !• analogOBi
to the sinkini; fand, con!*Iii1ing entirely of asnota which belong a'lsolutely to
the State, and have lioen fet apart for aupi>ort of public schuoTx, the ainwuBt
of Inc mu from wh ch
t8^9^J7 64, and can i^ever be larger. Tb4 entire debt
'•
U
proper of the State la as follows
As fixed and determined by the fandlns act the wh«l« amoont
w.s
or which there have been
tW.47g.-«4*
ret Ired
by operation of aiolclDg fund.
Leaving as interea'-boarlng debt
To which add interest lu arrears
9SV,tS0
U
$d,489,M(
M
K
.
8,S10,£M
Total debt
(3.V01,'.CO 1<
If from this Fum bo deducted certain avaraslo a^eots. amply .ecured, the
grand total of Ihe debt is tSSi.:)ii,f>4i &C; and this toul is Virginia's fun portion
of what was contracted by the orii^inal State, not only bt^fore Its dif meniberment, but liefof't the late war began. Not a dollar of It has been contracted
since the beginning of the war. nor haa it uudergona any Increase wliaterar
except accumulation of Interest arrears.
RXCeiFTS AND EXPHNDITDRKS.
The revenues from taxation fur the last flrcal y jar amounted to tl.(iT9,3:19 10.
They exceeded the averageannual receipts of the prevlons six year*
by (3ni,3r(i is, and they exceeded the receipts of the fiscal war :SH-i by
Sliil.MU HI.
ihcUisbursemunts frem this source during the last Sscal year
were us follows:
$6T$,S34 85
F«r ordinary expenses of thegoversmeBt
i
144,4.^2 84
For extraordinary expanses
for public free school!
443,000 00
I,105.Ji(« 88
For interest on debt
I7,!IH It
Balance not expoQjed during tha year
Tolal
tS,979,?39
Western Union Telegraph.— The following report
for the quarter ending December 31, 1876
is
W
issued
:
In the report presented by the Executive Committee at the last
quarterly mieting of the board, held Septeml}er 13, 1876, the net
profits for the quarter ending September 30 (August businesB
being partially jind September wholly estimated) were stated at
$796,592. The ofAclal returns for the quarter (ending September
30) showed the profits to be $833,770, or $37,177 in excess of the
estimate. The following revised statement, based upon complete
returns, will show the condition of the company at the close of
the quarter ended September 30, 1870
Surplus, .tuly 1,1876, as per last qujrterly report
Net profits quarter endiug September 30, liSlli
:
t80<iS
8>S,770
Ssa.SM
Total
Fri)m which, deducting
Dividend of
1)<
per cent, paid October 16,
IffJB.
..
One quarter's
One quarter's
interest on bonded debt
pri»portion of sinking fund
Oonstruction account for the q^tarter
Souibcni
Atlantic Telegraph stock purchased daring the
$J07,1»8
111.)
3
20,000
110,5:M)
&
quarter
785
Western Ut-ion currency l)ond^ of f900 pur^'based (on account of the SiCOOo reiurned by the trustees of the sinking fund, d ducted he. ow) and cmcelled
TnUl
15,448
t768,:S8
Les' portion of the sinking fund for the cnrren.'y bonds of
IflOt', set aside previous!}', returned to the company l>y the
Union Trust Company tru-tees, becaui^c the h iders of
drawn bonds did not present them for redemption
13,000
140,188
There rem lined a surplus, October
1S16
$101,045
Tl<e net profits for the quarter endir.g December 81 InsUint, baaed
upon oftlciaj returts for October, nearly complete returns ft r November, and estimating the business for Deccniber« will be alwut.. $908,5fl9
Add surplus, October I, as above
10I,04S
I.
Tolal
$l,009,Uli
From which, appropriating
One quarter's interest on the bonded debt
One quarter's proportion f sinking fund...
$114.1151
<
S utiicrn & Atlantic Telegraph Company's etocU, pnrcbased
during the quarter
American Teicgraph Company's (of ilicbtgan) stock, purchased daring the qnnrlor
S0,000
10*139
88,785
131.878
Leaves a balance of
$8i',7i4
A dividend of l}^ per cent, on the capital stock outstanding requires. 507,l:i9
Deducting which leaves a surplus of
$SiO,S95
In view of the preceding statements the committee recommend
the adoption by the board of the following:
liesoived. That a dividend of one and tn---half per cent, from the net earnings of the three lu'mths ending December 31. bo and ia hereby declared, payable on the lith day of January next to stockholders of record at the close of
business on the iotli ay of Deceralier instant.
EefolviO, That for the purpose of such dividend, tho et'ick books of the
company t>e closed at 3 o'clock on ihii aferaoon of the flOtli instant, and b«
re-opened on the niornin^ cf tiie loth of .January.
'
—
The President of the New Jersey Mutual Life Icsurance
Company publishes a card, which will be found on the fouith
page of The Curonicle, refuting certain slanders against hia
Ciuiiauy. Mr. Stedwell mskes a plain and definite statement,
denying, in order, the false assertions which have been tuade,
and nil parties interested will do well to read his address.
—
At the election for officers of the American Mining & Stock
Exchange, the lollowing were elected President, Georiie Tuthill
First Vice-President, Lawrence P, Biyne Second Vice-President,
Luther W, Bidger; Chairman .\rbitratiou Committee, llobert R.
(Jriffin
Treasurer, John T, Daly; Secretary, Henry J. Uubbard;
Assistant Secretary, Luther S. Kauffiuan.
A notice to bondholders of the Mobile & Ohio Railroad,
issued by Messr.". Moran Bros, and others, will be found in our
:
;
;
—
advertising columns.
— Attention
is
sixes, advertised
cent,
directed to the issue of Columbus, Ohio, funding
by Perkins, Livingston, Post & Co., in another
As tuese 6 per cent, bonds are issued to redeem 8 per
bonde, Columbus is in tb's way reducing its annual interest
column.
obligation.
;
THE CHRONICLE.
600
COTTON.
Commercial ^xmtB,
^l)z
FaiDAT, p. M., Dec.
Phiday Night, December
Chop, as indicated by our telegramB
from the South to-night, is given below. For the week ending
this evening (Dec. 15), the total receipts have reached 196,436
bales, against 187,783 bales last week, 304,879 bales the previous
week,and 21 1,833 bales three weeks since, making the total recoipts
15, 1876.
a notable uncertainty of feeling prevailing respectinj;
Taluee, preaent and prospective, of staples of commerce, foreign
sUto of
as well aa domestic, which imparts a feverishness to the
trade that is most iojurious to legitimate business, and restricts
Bpeculatioo, by apparently increasing the risks. The political
situation remains unsettled, at home as well as abroad, and the
ia
since the Ist of September, 1876, 2,237,834 bales, against 1,957,538
bales for the same period of 1875, showing an increase since
accounts are to be made up, contribute to the stagnation. If,
of the
after the holidays, the question of the next Presidency
adjustment,
of
way
fair
put
in
a
been
shall
have
United States
Total since Sept.
The exports
in
raws
Boxee.
6,7M
3,556
817
4,851
15.491
18,003
12,549
19,366
Bapre.
13,144
9.40D
96,511
51,056
imi.
187i.
1873.
59,747
56.986
68,898
81,998
49,76«
2),129
8.3,
79
19,414
13,898
16,051
23,126
19,960
22,366
22,260
[ 14,087
9,380
30,479
28,350
1,8C8
1,0»4
1,020
25,158
21,358
30,615
34,963
28,862
22,531
20,693
19,975
9,563
8,418
993
687
1,815
556
10,075
11,803
7,146
5,487
6,4!5
«,79«
989
1,0»
701
411
328
487
6,074
5,529
6,063
3,779
2,530
2,467
17,971
22,928
17,746
19,364
12,975
8,032
1,358
.831
593
1,239
1,036
3,876
193,436
193.642
lf8,4!4
196,481
125,357
120,918
[
1.... 2,227,831 1,957,528 l,831,8-,8|l,521,615 l,529,220l 1,118,567
week ending this evening reach a total ol
which 96,808 were to Great Britain, 5,438 to
for the
France, and 24,553 to rest of the Continent, while the stocks as
made up this evening are now 959,313 bales. Below are the
stocks and exports for the week, and also for the corresponding
week
of last season:
Bzported to
Dec.
Great
„ ,.
15.
.
Britain,
this
Mclado.
680
New Orleans*
Mobile
86,053
Cliarlestoc
23,322
Savannah
W There has been more doing in Kentucky tobacco, the sales for
the week aggregating 1,100 hhds., of which 800 were for export^
and 300 for home consumption. Prices are more steady lugs,
e@71c., and leaf, 9@16c. But seed leaf continues quiet, and sales
for the week are only 875 cases, including the following 300
;
:
OJc, 8Jc. and p. t.; 185 cases
Gic, lOc, 15c., 22 and 35c.; 100
'75, 5J.,
Same
week
France
Continent.
5,418
8,731
.
week.
1875.
3^,227
2,120
10,550
30,872
15,316
16,862
2,352
19,214
8,1 Si
GalveBtont
9,849
1,999
11,248
17,036
New York
9,319
100
9,419
18,903
Norfolk.
4,4J2
4,452
5,641
5,645
1,120
7,'-65
21,552
12<',796
Total this week..
Total »ince Sept.
1
96,806
718,597
5,438
Stock.
1876,
1875.
55,399
6 293
5,299
Other ports}
2,192
2,709
„
this
Total
Week ending
:
Ehde.
1814.
1875.
18,314
&c
ToUl thieweek
:
61,715
Norrolk
126,795 bales, of
The movement
1876.
.
City Point,
—
New
week at—
North Carolina
has remained strong, and is quoted at 18f@19ic..
The stock ifl first hands here is
gold, for fair to prime cargoes.
almost wholly absorbed, but the visible supply for the United
States is increased to 219,000 bags. Mild grades are also in reduced stocks, namely, 5,510 bags and 26,600 mats (the latter Java),
and prices are very firm. Rice has ruled rather firmer for domestic. Foreign dried fruits, the demand has not been active.
Molasses quiet and unchanged for foreign, but domestic has advanced 2@3c. per gallon. Sugars show uninterrupted dulness.
Raws quoted lower at 9i@10c. for fair to good refining, an i re
crops '74 and
this
Florida
coffee
oases Ohio,
previous years are as follows
PortRo7»1.4c
active at lOjc. for prime.
Beceipte since Dec. 1
alee Bince Dec. 1
Stock, Dec. 14, 1876
Stock, Dec. 16, 1875....,
five
Mobile
|16 50 for December, $16 60 for January, |16 75 for February,
and $17 for March. Lard has latterly been quite active, and
prime Western steam advanced to-day to f 10 50, with closing
bids for future delivery at $10 47i for December $10 50 for Janwary, $10 60 for February, and $10 Tii for March. Bacon was
more active, and city long clear sold for February at 8f@3ic.
Cutmeats are generally lower. Cheese in moderate demand and
Butter dull, and stocks of the lower grades accumulatefirm.
Tallow has declined to 8@8ic. for prime. Stearino has been
mouth has been
week
(as per telegraph)
details of the receipts for
and for the corresponding weeks of
this
RecelpU
an important revival of trade may be anticipated.
There has l)een a fair movement in hog products. Pork ruled
about steady on the spot, aud mess sold early in the week at
$16 90@17 10 for February and March, but this buoyancy has
since mostly disappeared, and the closing bids to-day were at
fined 13ic. for standard crushed.
The
Sept. 1, 1876, of 270,306 bales.
approach of the holidays, and the close of the calendar year, when
Rio
15, 1876.
Thb Movbkknt of thb
COMMERCIAL EPITOME.
There
[December 16, 1876.
4,566
127,306 959,310 708,074
179,3S6 |U9,3,)5 1,047.338 1,021 805
• Mew Orleans.—Oar telegram io-a!ghc from New c>riean8 sliows that (hesldei
above exporlB) the amount of coltoii on shipboard and engaged for shipment at
that port iB as foUowB Tor Liverpool, 61,000 halo; for Havre. SS.OtlO bales; for
Continent, 10,000 bales; for coastwise ports, 9X)bal-8; which. If deducted from
the stock, would leave :83,000 bale-, representing the quantity at the landlusand In
:
presses unsold or awftltins orders.
t Oatoefitoa.—Oar Galveston telegram shows (besid-'s above exports) on shipal thit port, not cleared: For Liverpool, 21,020 hale-i
for other foreign,
7,890 b ilei
for coastwise porta, 7,87* bales
which, if deducted IVom the stocB.
would leave remaining 80,750 bales,
t The exports this weeii under the head of "other 50-ts" include from Baltimore 396 hales »nd IS higt Sea Island to Liverpool, and 1,120 biles to Bremen
from Boston. 2,068 bales to Liverpool; ."Vom Phllsdelphli. 1,122 bales to Liverpool ; from Wilmington, 1,759 bales to Liverpool from ban Francisco, 52 bales to
board
;
;
:
England, crops '74 and '75,
cases Pennsylvania, crop of '75, 35c., 33 and 45e.; 30 cases WisconAlso 200 cases sundries, at 7@35c. Spanish
isin, crop of '75, p. t.
Liverpool,
tobacc} steady, but quiet; sales, 400 bales Havana, at 85c.@$l 15.
From the foregoing statement it will be seen that, compared
Until near the close, ocean berth room was quiet but when a
with the corresponding week of last season, there is a deortcu*
oncession was granted, more liberal transactions were effected in the exports this week of 510 bales, while the stocks to-night
Charter room has been in demand, petroleum vessels especially; are 251,236 bales more than tbey were at this time a year ago.
the supplies, however, are small, and this has checked business The following is our usual table showing the movement of cotton
at all the ports from Sept. 1 to Dec. 8, the latest m*il dates:
Late engagements and charters in
and maintained full rates.
elude: Grain to Liverpool, by steam, 8d.; cotton, |d.; proRKOEIPTe
BXPOBTBD 8IHCB 8KPT. 1 TO—
Coastvisions, 45@50@55b. per ton; grain to London, by steam, 8J.
PORTS.
wiee
Stock.
Great _
Other
''""=«
Total, Porta.
prrvipiouF, 45s. per ton grain to Bristol, by steam, OJd., and by
Britain
forei'n
1876.
1875.
grain to Glasgow, by steam, 8i@9d., mostly at the
sail, 9id.
former rate giain to Lisbon, 18c., gold, per bushel naphtha to N. Orleans. 500,873 451,679 173,938, 112,196| 33,666| 321,735 44,852, a72,16«
70,130
63,722
187,853
134,351
London, 5s. 6d.; refined petroleum to Trieste, 6s.; do to Naples, MobUe
31,474
66,350
9,806; 12,070
do. from Philadelphia to Charlesl'n • 302,7i.9 237,981
58,500 101,751
59. 6d., and 27ic., gold, lor cases
61,237 29,758 25,181 114,448
Antwerp, Bremen, or Hamburg, G'. 6d. To-day, business was Savannah .. 276,891 301,873 61,905 6,9i)l 21,046 (-2,911 113,1-33 93,S47
very slow, and while berth room remained steady, charters could Galveston*. 281,941 238,504 65,a:i9 e,6J7 6,415 S',341 99.123 111,157
Grain to Liverpool, by steam, 8d.; do. to New York..
be Lad at easier rates.
195,531
46,033 134,1:14
4,968 10,46) 149,571
35,793
London, by steam, S^d.; do, to Aarhuus, at 7b. per qr.; refined Florida
5,57li
9,782
9,782
petroleum to Liverpool, 58. 3d.; do. to London, 5s. 3d.; do. Lon- N. Carolina
49,013
9 026
14,163
9,3(2
49,923
6,157
72,438
don or Antwerp, 5s.; naphtha to Liverpool, 58. 9d.
3d,067| 223,231
3ir,69r
1,221
58,800
212,00] 33,244
1,602
Norfolk* .,
There has been a liberal business in spirits turpentine, and Other ports 44,402 25,983 40,fli9
4,247
44,816
26,500
at the close the full figures of 42i@43c.
prices have advanced
173,9)8
121,803
920,612
667,731
931,338
621,791
2,031,398
Tot.
this
yr.
checked dtmands. Roeins have advanced under strong Wilmington advices, and business has bei-n very moderate strained to Tot, last vr.
1.761..880 S52,.527 1?8 8'15 2! 6,077 697,499 593.918: 66?,S«
Xood closes at $3 37i(a$8 42^. la petroleum, rapid advances
* Under the head of Cftar/csion is Included Port Koyal, Ac; under the head of
have taken place, rnd very liberal orders executed; but at the £7alo«s({mlBlaclndedludiauoia,
dec; under the head of yt^r/o'ik is included City
Point. Ac.
close the offerings on the part of refiners were very limited
exporters also find it difficult to obtain adequate chartpr room.
correspond precisely with the total of
returns
do
not
mail
These
Befioed, iu bbls., 32c. for December, an'l 30c. for January. the telegraphic figures, because in preparing them it is always
Crude, in bulk, l(Jc. Ciover seed is firmer at 15J@1.5Jc. per In,, neifi'isary to ineoroorate Hverv correction made at the ports.
and timothy quoted at $! 92J. Calcutta linseed sold at |2 07i^,
There was, early in the week, more activity in the expor
gold.
Whiskey has advanced to $1 llj(u$l 12, tax pa'd.
demand for cotton on the spot, with considerable speculation*
;
;
;
;
;
;
;
;
;
;
;
X
:
December
:
...
1
,
:
.
THE CHRONICLE
16, 1876.]
and middling uplands were marked up to IS^c. but the demand
from home npinnera continued limited, and at tlie higher figures
the whole movemBiit became restricted. A slight advance in
exchanjre was counterbalanced by higher ocean freightc. To-day,
quotations were reduced ^c, aud business was dull at the decline.
;
eoi
M) D«e,
8-ltc. pd. to «xoh.
far
Jm.
He. pd. to eich. :00 tut. lor Mwok.
S-Kc pd.tosxcli. SOODec. for Jcia.
H'' pd. toexch. l.OOD JM. fir Uarch.
13-ac. pd.toexeh. l,Wu J«b. for u» ck.
The sales during the week of free on board reached 300 bale*
future delivery the speculation has be^n moderately active, The particulars of these sales are aa below
F. o.b. aUOUilreiton, P. T.
tout at prices showing frequent fluctuations and some irregularity
The following will show spot quotations, and the closing prioM
between the early aud later months.
The buoyant advices from
Liverpool early in the week were succeeded by dulnoss and de- bid for future delivery, at the several dates named
VIDDLIMe OPLISD*— AMtBIOXV OLAHiriOlTIOV.
pfessiyn.
A more belligerent aspect w*s given to European
Bat.
Mob.
Tnet.
Wed.
Thnrt.
politics after the meeting of the Conference at Constantiiiople,
Ooapot
I'iX
I'^X
12X
12X
12X
12X
and domestic politics grow complicated and heated. Receipts at December. ... IJ 7-St 12
S-I«
l-l 13-32
12X
12 It-XS
iVi,.
January
12 li-S!
I2X
It 9-16
U l?-li 12 1»-31 i^l^
the ports also began to sho^ gome falling off as compared with
12 t-a
February
U la-sa 12 !t-I« 12 V
12 25-W
11 a-«
12 l»-1)
13 il-M
last year but this brought forward sellers to realize profits from
12 '.'^:il
Marcli
UH
12
U 31-n 12 31-31 12 U-Ij It 3S-»!
April
31-3!
12
19
l-l<
5-3;
13
I'X
13 5-3<
13
12 29-tt
operations predicated upon it. The consequence has been fluctuMay
ISX
13 7-31
U9-S)
|] 1-32
It 3-6
II 1-lt
13X
ations of as much as l-16^ic. iu the course of a day's business,
June
13 1^3]
13 IS-):
I.1X
11 --!6
n 1^31 13X
13 i-M
luly
i;-32
13
13
18-K
IS
n-si
IS
l«-3!
IS~l|-JJ
ISX
and a very feverish tone generally. Yesterday, prices declined
>3X
Auzaat
13 11-16
13 :1-16
19X
13X
13X
UK
IS is-n
3-16c, and to-day again yielded to the exteutof 1-lOc.
Liverpool aorn
10
lojx
10 ;X
107 It
ii;7X
lOSX
lli7X'
4. -OX
4 tV4
4.WX
«.WIX
accounts were lower, and recsipts at the ports larger than iCTcHlincfl.. ,. 4,D0X
«,»0X
taletapot
1,S45
*4.04«
1.033
i,s»r
l,«ll
g;enorally espected.
solm iiitiire
24,9J0
4.100
29,1100
.... S)
.
2t:»
19 300
'23.630
23,MO
* Most of thla business wai done>n Batarday afternoou.
The total gales for forward delivery for the week are 1:39,800
Thk Vibiblk Bopplt of cotton, as made up by cable and
bales, including 300 free on board. For immediate delivery the
telegraph, is as follows.
The continental stocks are the figures
tolAl sales foot up this week 9,431 bales, including 3,048 for exof last Saturday, but the totals for Qreat Britain and the afloat
port, 3,650 for consumption, 2,735 for speculation, ^nd
in
transit.
Of the above, 485 bales were to arrive. The following for the Continent are this week's returns, and consequently
brought down to Thursday c vening; Hence, to make the totals Uie
table shows the closing quotations for each day of the past week
complete figures for tonight (Dec. 15), we adil the item of exports
TKXAS.
from the United States, including in It the exports of Friday
K. ORLKANS
Moir Clauillcatlon.
Sat. Blon
t. raon
Sat. nion Sat. mton. only
l<V)r
:
:
im
;
,
—
:
D«C.
Ordinary
.
(ood
11.
Ordinary,
Oood Oid'ry.
na
nix
I
IX
Dec.U
nx
nx
lU
nx
"x
IIX
Vi
ViH
viX
12X
18X
13«
13X
13X
13
.....
Dec.
:3V
I1I-I6
Dec.;2
Dec.l:!. Oec.lS,
v n
Strict Ordlnnry.
lOH
lOV
..
Uood Ordinary
Strict Oood Ord'ry.
I.OW Middling.,..
Strict Low Middra
{J*
12X
I2X
12X
I3X
Middling
Oood Mldd Ing
Strict Oood .Middl'K
Mldd Int; Fair...
Fair. ,,,,,,
lOX
!|x
13X
'3%
Tb.
Frl.
,
n
Dec. 11.
'.UX
I'X
.
»-ll
tl
(-10
IIX
12X
12X
IIX
:2X
StoCK at Liverpool
Stock at LondoD
I9X
lov
ilX
1: !»-:«
12
12 7-;6
12 !
12 7-l«
12X
I2X
13X
12V
12V
13
I2X
1SX
13X
13X
14
14
I3X
14X
UX
Dec. IS Dec. 12, D0C.13
13X
11
12X
13X
14
14
Frl.
3.
lox
lOV
II »-!6
ii^:(
12
12
12
12
12X
l2X
12X
12X
12 7-16
!2 7-16
12 ;-•.(
\i^
13X
14K
13
13
ISX
13X
14«
13X
14X
Xh.
Frl.
Tb.
Frl.
11
12X
•in
I2X
13X
18H
Dec.U. Dec.
lUX
lOV
;ox
lOV
UH
llX
nx
11
U
t.
lOX
12 5-:6
lOX
I
lox
lOX
lOX
"!<
Tues WTed. Tuea Wed.
OX
lOli
Dec.U. Dec.
12X
12X
12X
!2X
13X
Tuo* 'Wed Tuea
Ordinary
9.
lOX
im
12
UK
«H
(Jood Mlddllnit
Strict Oood MlddlV
Middling Fair.
Fair
».
WH
lOX
Middling
Strict Low Middl'K
Middling
Strict
Low
Dec.
UCC.ll
a.
..ft
Strict Ordinary
»-16
2V
lOX
[OV
12 7- '.6
12V
lOX
iov
t;x
Oood Ordinary ..
Oood Ord'ry,
Strict
"X
uv
JjOw Middling
Strict Low MlJdl'g
Middling
Oood Middling
Strict
12
OocdMlddl'g
lOX
lOX
ux
ax
13
12X
12X
12V
13X
13X
!3S<
14
13V
lOX
IOV
lox
lox
11 9-16
I
OX
I
12X
12 7-16
12 5-16
12 t-16
12V
12X
12V
11
X
13
12
13X
ISX
UX
ox
7-16
II
"X
-16
Dec.
(ood Ordinary
Strict Oood Ordinary
I3X
Son. Tues W^ed, Tb.
9.
lOX
,
1-ow Middling
Middling..."
DecU Decs.
Dec.U,
lox
lov
lOX
lov
llX
10
Frl^
Dec.U. Dcc.IS.
lOX
IOV
IIX
lox
luv
llX
•IK
ux
UK
UK
IIX
10
1^
Below we give the sales of spot and transit cotton and price of
Uplands at this market each day of the past week
:
New
C1a»iacatlon.
Bxp't.
Saturday
I
2,119
Tneaday
I
Total.
109
431
599
I, .124
IM
4,016
1,083
(»l
1,591
1,641
Wedneaday....
415
589
ITiuraday
Friday..
25J
*n
108
5J3
Total..
alt.
'M
.12.-.
Monday
Oood Low MidOrd'ry Ord'ry. Mldl'g. dling.
Con- iSpec- Tran-
aump. nla'n
5W
63!
3,01«
ux
uv
uv
uv
uv
ux
IIX
lOX
lOX
lOX
lOX
lOX
lOX
I
IIX
ux
IIX
llX
ux
I2X
12X
12X
12X
12X
12X
9,431
Delivered on coolract, during the weetc. 8,300 balea.
eta.
4W8.n. ICth.'J S-u
SWs.n. isth.u ll-:l
400 a.n. 19th.l2 8-16
308
12 3-18
308
12 7-32
3W)s. n. uih,.l2X
ia9a.n, I'jth.u S-le
u
2.O.D.,
40,M
5-iG
!n0 8.B....lJ II 32
2 0J0
tlIWa.n.I3t>i.l2 11-32
100
12 ii.:«
»J«»
1.5J0
7.300 total
tax
12
ISM
3.»00
3.1110
60W
4,509
600
12 17.31
12 9-16
12 19-12
21-32
M
,12 11- -6
12 21-Si
uv
I2 2-V32
12 IS-;6
Dec.
31.303 total
Feb.
For January.
SOU
SJOO
1,!
U
516
For March.
11-32
110
lax
90O
12 13J2
12 7-16
12 Ui-Sl
i.auo
1.200
6000
5.4W
12X
12 17J<
;j 9-16
12 19-32
,...13
.-..12 15.16
12 31-32
13
13 1-32
IS 1-16
13 3-:«
2,500
2,600
2,500
1,500
1.100
For May.
2110
100
ISX
;ilO
\.l<m
13 5-32
13 S-16
30
12 iiSl
r^LI-lK
1.100
1!27-3J
4.9J0
3.500
5,600
6,100
I2X
12 2!i-32
500
BOO
600
900
13 13-32
IS 15-3!
ISX
700
•2011
13 I7-Si
13 9-16
IS 19 32
103
1.1X
'JOO
2,600 total
200
800
13
!00
IS ll-o2
July.
For August
13 9-Sj
5H
12 31-3;
4.5:>0
tOUl May,'
13,750
4,500
23,000
200^
938,750
108,000
565,000
85,000
959,310
Stock in U.S. Interior ports.
United States exports to-day
I:J5.417
116,000
638,000
31.000
709,074
117.643
16,000
148.000
53J,00e
77,000
7«0,»77
145,178
13,000
148. 000
380.000
77.000
627,867
118.397
13,000
29,000
2,640,948
2 231.604
Totolvielblesnpply.. ..baiea2.708,«7
2,515,217
or the above, the totals of American and other doscriptlODs are a* follows
Liverpool stock
Continental stocks
220.000
191,000
5«5,000
939,310
American afloat to Europe
Ur.itedStatesstock
United States interior atoeks
United States ezpoitB to-day
165.000
120 COO
6)3,0CO
708.071
117,64)
1S,UOO
1.35.417
39,000
bales. 2,099,7*7
Total American
Bait Indian, Brazil, dbc.—
2()8.0OO
Liverpool stock
44,500
London stock
1*1,250
Continental stocks
ICS.OOO
India afloat for Europe
63,000
Bgypt, Brazil, 4c., afloat
150,000
108,000
5:10,000
710.270
146.178
18,003
77,000
79,000
380.000
627,857
118.397
13,000
1,772,717
1,631,443
1,294,754
817.000
^3.60O
203.000
116,000
81,000
331,000
113,000
225.500
143,000
77.000
379.000
184,260
211.500
148,000
77,0C6
606.750
2,099,727
772,500
1,772,717
949,503
1,691,443
999. 750
1.294,734
Totelvlslble supply.... bales 2,706,477
2,545,217
2,6)0,94
2,294,601
Total East India,
600
l,7l«
the
"JXfi'H^
9)ii'
These figures Indicate an inereaae In the cotton in sight to-night
of 161,260 bales aa compared with the same date of 1875, an
inereate of 65,539 bales as compared with the corresponding
date of 181^, and an inereate of 411,973 bales as compared
•
with 1873.
Price Middling Uplands, Llverp'l. 6 9-16d.
At thk Interior Ports
week
corresponding
statement:
3,76:)
—that
is
the receipts
..
oM ports
.
Oa
Oa
.
.
new
Total,
an
ports
The above
14,»00
9.101
17, 18TS.
9,999
2,664
3.035
3,193
4,0»
3,407
2,971
3,560
aa.8Bt
8,«(.3
7,4.34
5,.347
3,9; 6
75,!'83
7,7(>4
30.384
3,439
21,712
2,&31
51.35>
43,67.'
133,417
58,068
44.338
117,643
2.774
7,220
6.68^
6,273
6,933
4,711
4293
6,981
8,2(6
4,706
4,423
8,460
6.5f/7
2,127
3,416
5,740
i,sn9
2,339
1,608
2,291
2,539
3,607
1,037
3,9(3
3,078
2,058
17,0)0
7,169
2,2
n
2,2:)9
1,347
5,571
7,166
1,336
1.905
3,9!'3
7,.3.«
1,8(11
2,£a3
7(2
6,»»1
1,718
3,051
3.4.))
I5,8««
6,6.3
1?,0>4
6,832
V\2¥!
Dec,
13,788
3.067
773
Charlotte.N. C.
St. Louie, Mo..
Olncinoati, O. .
10.12)
4,413
1.399
3,441
Week ending
Receipts. Shipments. Stock.
3,409
4,214
1,V70
Rome, Qa
Total,
15, 1876,
4,702
*,R25
. .
Jeff'eraon, 'Tex,
Qriffln,
out In detail in the following
22,42.5
S,8!'5
Shrevcport, La.
Vickshurj;, Miss.
Columbus, Miss....
Bufaula. Ala
Atlanta,
Is set
7 811
9,197
9.828
65,643
4,247
4,191
Tenn
Texas
—
ending Dec.
9.970
..,
.
Total,
of 1875
Week
Montgomery, Ala
MX
:
movement
Receipts. Stiipments, Stock
.
tout Aug.
the
7d.
and shipments for the week and stock to-night, and for the
UK
IS
week
Ac
ToUl American
13 17-32
13 19-32
12 15-16
The following exchanges have been made during
50,350
io,on«
5,5(0
7,000
';«.5oo
9,250
14,000
8t,S0«
9,7i0
16,500
14.500
94.250
79,750
iW,«SO
I3,0t0
99,C0O
353,!03
Nashville,
ISX
100
300
13X
9.000
4T.1U0
13.500
id.lO)
9gi500
Selma. Ala. {est.)..
Mempliis, 1'enn....
13 1,VJ2
13 7-:6
1.0O
.
640.150
us.roo
«,8S0
48,000
14,500
29,750
S66,5O0
135-'.6
For July,
IS 116
13 3-34
649,000
163,790
3.11,000
1S9-32
t.OJO total .lune.
:8X
535,C00
139,500
S.O0O
39.000
8.7S0
40,750
45,750
844,750
Dallati,
AprU.
53J,MM
312,250
IS IK'S
200
2)0
600
TOO
lSE-.fl
t!.900 total
cts.
13 7-31
100
lOO
100
For April.
100
700
vix
12 2--3I
balea.
Marcb.
1.100
raO
3.100
S.600
2.900
7.000
S.KOO
3,000..
27,300 total
For February.
1.600
3.100
1.6IJ0
I.IOO
.12X
total Jan.
184,950
Total European stocks
India cotton afloat for Buropo....
American cotton afloat for Europe
Egypt, Brazil, &c., afloat for B'rope
Stock In United States ports
For forward delivery the sales (including 303 free on board),
have reached during the week 139 803 bales (all middling or on
the basis of middling), and the following is a statement of the
Aagnsta, Qa
sales and prises
Colombua, Gla.
Macon, Qa
For December.
balea.
ct«.
Dales.
cts,
For J>ioe.
IMIea.
4Sfi,0nO
IIS.CHX)
13
13X
I4X
14
STAINED.
Sat.
1874.
5«1.0O3
Anuncan—
:ox
lOv
1-16 til,
IIX
12
12X
I2X
12
12X
12X
12X
12K
12X
12X
12X
12H
12H
12V
13X
ISK
Middling Fair...
Fair
lox
lov
itw
lOX
iOX
IIX
IIX
iix
'!«
1876.
4{«,000
53,500
IJ230
Total contlDental porta
Dec.l4. Dec. 15. Dec.U. Dec. 15, Dec.U, Dec.iS, Dec, 14. Dec. 15,
Ordioftry
i) ».
Strict O.dlnary
Total Oreat Britain stock
Stock at Havre
Stock at MarseiUea
Stock at Barcelona
Stock at Hambnrfi:
,,
.
Stock at Ilremeo
Stock at AmHtcrdam
Stock at Rotterdam
Stock at Antwerp
Stock at other continental ports.
ims.
18TS.
48^.000
44,C00
10,644
6,)78
3,ii68
1,645
7,271
1.827
889
648
3.762
2.915
2,159
2.,38)
701
29,n26
2,33.-)
218
14,1.34
13 8S0
6,268
12,340
7,230
2,4H
53,572
50,814
88,709
51335
45,021
63,997
104,927
9I,.'S23
224,126
109 893
f9,359
181,640
totals
increased during the
show
week
that the old interior stocks have
7,070 bales, and are to-night 17,774
—
—
W.
Nicol
&
.-Shi|tment.>t)ilgweek-^
ereat
18»
laiE
1874
Co., of
ant* are
i—SMpmante since J»».l-s
enst
Con-
Ccn-
Total,
Britain, tlnent.
984,000
581,000 Wi,im
19-2,000 451,000 l.aSe.OOO
SilO.OOa 399,000 l,?i9,0G0
Total.
4,000
11,000
9,000
Britain, tlnent.
8,000
2,000
7,000
4,000
6.000
8.000
Bombay,
:
—
.
bioaght
Recelptt.
Bince
Ttals
week.
Jan.
Feet.
I.
9,0OU 1,0»5,00(]
7,000 1,286^00
17,000 1,387,000
New
little rain has anyweek, the weather continuing favomble
The picking will be
for gathering and marketing the crop.
about closed everywhere next week. Oiir Galveston correspondent says the accumulation at the interior ports in Ttxas is so
large that the receipts there *ill be large for a nonth or more.
There lias been no rain here this week, but
Oalventon, Texas.
the weather has been generally foggy and cloudy. Picking is
nearly finished everywhere. There is a great glut of cotton at
j
the intertor depots, and receipts will continue very heavy for a
month or more. The thermometer has averaged 59, the highest
being 70 and the lowest 48.
Indianola, I'exas.
We have had no rain during the week, but
there has been a dense fog for two dhys, and the re.-.t of the week
has been mostly cloudy.' The average thermr meter is 58, the
highest is 75 and the lowest is 44. Picking is finished.
Conkanai Texas. There has been no rainfall this week. The
thermometer has averaged 51, the highest being 72 and the
lowest 27. We had a killing fiost and ice on one night. Picking is done, and the crop is bting sent to market freely.
W« have had no rain this week. Average
Dallas, Ttxtif.
thermometer 58, highest 72 and lowest 32. We have had one
killing frost.
Very little cotton remains unpicked, and picking
will be finished next week.
Wheat planting has been greatly
retarded hy the grasshopper scare, but is now finished.
Jfew Orleans, Louisiana. There has been rain on three days
of the week, the rainfall reaching one inch and ten hundredths.
The thermometer has averaged 5'.
Shrewport, Louidnna. Tlie thermometer has averaged during
the week 51, the highest being 70 and the lowest 32. The
rapidity with which tlie new staple has been forwarded to mar
ket is unprecedented. The roads are and have been in excellent
condition, and the weather during the entire fall has been as
pleasant as a Qod-loving people could ask for.
Ykksburg, Itississippi.—Wa have had rain on three days this
week, to a depth of thirty-eight hundredths of an inch. The
thermometer has ranged from 29 to 69, averaging 50.
Columbus, Mississippi. The weather during the week has
been cold. The rainfall is thirty-eight hundredths of an inch.
Little Sock, Arkansas.
TUe weather during the week has
been dry and pleasant. The thermometer has averaged 41, the
liigheBt being 77, and the lowest 15.
Naslwiile, Tennessee. The weather has been cold and dry
during the week. The thermometer has ranged from 6 to 64,
averaging 36.
Memphis, Tennessee. We have had no rain during the week,
and the drought is becoming serious for grains sown. Cotton is
coming to market with unprecedented freedom, probably threefourths being already in market
the roads, navigation, and
planters' necessities all conducing to this result.
The thermometer has averaged 40, the highest being 62, and the lowest 12.
Motnlt, Alabama. It has been showery one day this week, the
rainfall reaching forty hundredths of an inch.
The thermometer
has averaged .'52, the highest being Oil, and the lowest 34.
Montgmnery, Alabama.— the earlier part of the week has been
clear and pleasant, but during the latter part it has rained on
three days, tlio rainfall nggreg.ating ninety-eight hundredths of
an inch. There have been killing Iross on three nights. Tlie
thermometer has averaged 48, the highest being 64, and the
I
j
—
—
—
—
—
—
—
—
;
—
]()west 27.
4
Ilicr,
11
!>lt
fallen the past
—
Feet.
10
iDcll.
14
Above low-w&ter mark
4
9
15
Nashville
AImvc low-watir mark
2
12
11
6
ShreveiKirt. ...Above low-waier mark
4
11
^
Vickeburg. ...Above low-water mark
10
8
8
Tflew Orleans reported below bigh-water mark of 1871 unlit
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
1871, or 16 feet above low- water mark at that point.
Cotton Exchange Crop Reports.
have not receirei
'
Weathem Rbpobtb by Telegraph. —But
—
Orleans.. Below high-water marlr
Memphis
From the foregoing it would appear that, compared with laa:
year, there is a decrease of 7,000 bales this year in the week's
bipments from Bombay to Europe, and that the total movement
ince January 1 shows a deerease in shipments of 362,000 bales
oompared witb the corresponding period of 1875.
where
16, 1:76.
—
;
to Thursday, Dec. \i
[D cembir
week; the latter part has been clear and pleasant. Planter* arcsending their crop to market freely. Thermometer, highest 63;.
lowest 21; average 42.
It has been showery one day thisCharleston, Ho^ith Carolina.
week, the rainfall reaching twenty-two hundredths of an inch.
The thermometer has averaged 49, the highest being 65 and thfelowest 31.
The following statement we have also received by telegraph,
showing the height of the rivers at the point.'? named at fi o'clock
Dec. 14.
We give last year's figures (Dec. 16, 1875) for comparison.
^Dec. U, '76-,
,-Dec. 10, "TS.-,
same period last year. The receipts at the
same towns have be«D 6,703 bales les» than the samo week Inet year.
Bombay Shipmbnts, According to onrcable despatch received
to^aj, there have been 2,000 bales shipped from Bombay to Qreat
Britain the past week, and 2,000 bales to the Continent wUiltf
the receipts at Bombay during this week have been 9,000 bales.
The movement since the let of January is as Collows. These are
halea mcrt than at the
down
*
:
THE CHRONICLR
6^2
the figutes of
— —
!
—We
either the Nashville, Galveston or Mobile reports.
We
suppose they have not issued any report this month. The Chairmaa
of the Statistical Committee of the Nashville Exchange states to
us that the Committee sent out no questions, but that the resnlt
of previous inquiries made by them was as we give it below. For
Galveston and Mobile, in the absence of any December report, weuse their figures for last month. How the averages for each
State, as we give them, are reached, may be seen from the following statement
North Carolina.— (NoKroLK Excbakob.)— Says !8 report an increase of
18 per C' nt
o an liicr aee of '»4 per cent, and.y about the same as last
year.
We have averaged the increcBe at 13 per cent.
;
Sontb Carolina.— (Charleston Exchange.; — Says
per cent.
Georgia— (Savannah Exchange. )— Says an increase of
a decrease
of
16^
ir to 20 per cent.
^Ye huve cailed the in.-
(AUGUSTA Exchange.) — bays
8 percent decieaee.
crease for the State 14 per cent.
IB to 20 per cent iacrtase.
>r«
average the ila'e at 18 per (ent i'crease.
(Mobile Exchange.) Says 20 per cent decrease In the canebrake conn ties, and 12 per cent in the uplands.
(Memphis Exchange.)— Says 50X per cent aecrcase.
(Naruville EscHAKGB.)" Says about the same as last year. We average
the State at a d> create <y 20 per cent.
nisslsslppl.— iMubile Exchsngk.;— Says 12 per cent decrease.
iNew uklkans Exchange )— Says 28 per cent di crease.
(Memphis Exchange.)— Says SJ per cent dicrease. We average the Stale
nt a decrease of 28 per cent.
liOulslana.— (New Ublbans Exchange.)— Says the large river parishes
40 I o 50 per cent short and the remainder of the Siate 25 per cent
thort. We average the Slate 33 per cent decrease.
coucluue that this report intiicates
Texas. (Galveston Exchange.)—
about the fame yield as last year.
ExcaaAKOE.)—
Says 33 per cent decrease.
(New Okleanb
^Memphis Exch.inqe.)— Says 35 per cent decrease. We average the State
ct 3i per cent decrease.
Tennessee.— (Memphis Exchange.)— Says 10 per cent decrease.
(Nashville Exchange.)— feays 25 per cent increase. We average fhe State
at almut the eame as last year.
Florida.— (fAVANN«H Exobange.)— Says
—
Alabama.
We
Arkansas.—
Adopting the above as the intention of the various reports, the
following result
is
obtained:
Yield in
^IncreaKe and Decrease.—
Yield
Itt
1876-77.
— 52,S09
2n,20O
420,000
Percent.
13p. c. inc..
16 p. c. dec.
14p.c.io=..
-)-53,803
418,800
60.000
ISp.c.inc.
-)-12,?00
72,800
Alabama
600,000
—120,000
4ffl,000
Mississippi
670,000
Louisiana
650,000
Texas
Arkansas
Trnnessee
690,000
dec.
28 p. c dec.
33 p. c dec.
No change
34 p. r. dec.
States.
1875-7".
North Carolina
South Carolina
260,0;0
Georgia
Florida
Total
-f St
uda for " increase
3.30,000
660,000.
SO p.
c.
e'Jl,20(>
-f31,400
— 187,CO0
482,400
—214,500
435,500
—-221,000
423,000
—'j9J.100
3,576,900
6tO,000
-
8 9,000
NochanKC
1.609,000
— r4.83p.c..
"and
Actual.
339,006
— fur " decrease " compared with last
year.
This gives us a crop a little short of four million balus. One
remarkable disagreement we notice with regard to Northerik
Alabama ;— as reported by the Memphis Exchange, there
is
a
decrease of 20i per cent in the yield ; while the Nashville
Exchange makes the yield about the same as last year. It will
—We
Seima, Alabama.
have had rain on one day this week, but be seen, also, that Georgia is stated at a considerably less increased
the rest of the week has been pleasant.
production than was reported by the Georgia Agricultural
Madisin, Florida. The rainfall during the week has been ten Bureau. This, however, is mainly the result of the unfavorable
hundredths of an inch, 'il e thermometer has averaged 50, the Augusta report, which,- in the answer to the last question, the
extremes being 63 and 37.
Augusta Exchange appears to think does not correctly indicate
Maeon, Georgia. There has been rain on two davs this week. the condition.
The thermometer has averaged 44, the highest being 63 and the
Cotton Exchange Crop Reports for December 1. The
lowest 27.
following reports lor December 1 have been received this week :
Ail'inta, Georgia.
have had a shower on one day this
(jnestiong.
week, the rainfall reaching nineteen hundredths of an inch
First Qnestion. — Has the weather for gathering the crop been more or
The thermometer has averaged 37, the highest being 57 and the
less (avorable. durir g the m -nth of November, than la^t year?
lowest 20.
Second Qnestlou. — What [/roportion of the crop has been picked, and
Ctlu'mbus, Georgia.
The thermometer has averaged 49 during when will it all be gathered ?
Third (liiestloii.—Will the yield in your county be greater or less
the week, the highest being 68, and the lowest 31. The rainfall
than last year V State increase or decrease.
is seventy-four hundredths of an inch.
AUaut three-quarters to
Pourtb Qnevtiou.— What proportion of the crop has been marketed
four-fifths of the crop has been marketed.
from your I'eciion ?
Filth <luesiinn.— State fa1Iy any and all material facta relative to the
Savannah, Georgia.
have had rain on three days of the
week, but it has been very liiiht. The rest of the we<!k hag been yield, not covered by the foregoing q-xesiions.
Orleans Department
pleasant.
The thermometer has averaged 50, the highest bein" covers that part of theNew
State of JlissUslnpi not np ortioned to the Memphis
65, and the lowest 20. The rainfall has reached three hundredths and Mobile Cit'on Exchanges; tlie eniire State of Lou'siana and tlie Slait
of an inch.
of Arkan^fjj^. south of ilie Arkansas Kiver.
The rei)()rt is prepared and
by the New Orleans Cottin Exchange, through tlieir Cominiltoe on
Augutta, Georgia.— V^^o have had rain the earlier part of this i^s^ued
lufoimation and Statistics, composed of Harrison Watts, Cbairmnu, L. P
—
—
—
— We
—
— We
;
Diocmber
"Berje,
-And
I<.
1876
10,
K. P. OoIhu, WlUlani A.
Liicombe.
Loniglaniu— From
Novfimber 30.
THE CHBONICLEL
J
Qwjn, Bdward Horphy, B.
21 parlehes
we have 43
Csmmack,
C.
scarce.
—
Arluinsas. From this State we have received 33 aoswera from
'10 coaoties, itearly all of date November 30.
The weather la generally reported as having been very favorable, and ai
-•nach more favoraole than same period last year. The yield is estimated
at 3J per cent lees tlian last year, while the proportion already p eked
ia said to be fully EJ6 per cent, and all will be gathered by l&ih to 20tb
tnat., with fully one-half of the crop already marketed. Most of our cerrcspondeut 9 call attention to the better quality of tho crop, owing to the very
favorable weather tor gathering.
Mempliis Department
eovera the Statt of Ttnnutee. west of the Tenaesaee River, and the falJourtnif aXintUs in Xisnissippi : Coahoma, Panola, Lafayette, Marshall,
De Soto, Tunica, Beoton and Tippah, and the Statt (f Arha.itoi north of the
Arkansas River. The report ia prep'^ed and issued by the Memphib Cotton
Exchange, through their Committee on Information and Statistics, composed
of Sam. M. Gales, Chairman W. W. Gny, Hugh Torrance, B. Bayllfls, II.
JelTersou, J. L. Wcllford.
ifarstenheim, J.
;
If est Tennessee.
Georgia.—
character of the weather from the Isl of October laat has boon genadry and exceedingly favoakie for the gatUeriug of the crop, cvca more
so than last year. Thers was no killing fro«t until aboat 'be 15ih of Oetobir
In the upper, and Ist :u the 10th of November in the lower cutintlss. doiog,
however, very ilttle damage. In moat *e-cilona the crop is nearly allgatharaa,
while In some few districts picking will be continued unlit about liecembar
15.
Tbe comparative estimatea as Ur the yield are somewhat coiifltetiug, but
the general opinion favora 15 to 2fi per cent in excess of laat year. Krotn
\ariuu(< (uiusoa tho crop baa besn rapidly marketed, and la gradeaod prepara*
tion excels thit of last year.
The
replieg, bearing date
Kxcept In ip»rlshc8 the weather bat been more ravorabie than liut jear.
In fact. It ban been tbe moat favi rablo oeaaun over known fur Ratlioring tho
cotton crop, and planters have picked out more th.n (KB) i.lMtety-UTe pir cut
of Ihe crop, and will flnifh hclwecn the 10th and IBh December. The yield
in tlu'lar^c river parlnhcf, Carroll, Madlaun, Tensaa and Concordia, 1« fhort
40 to 50 percent, becaue the bulk of the cr. p wa» planted after the overflow,
and being laf wiacaupht by the early frott; in the remainder of tho State it
will be about 55 per cent ahoit. Many of our correispondanta note the fact
that the wolpht of the balea ia fully five per cent Je»e Ihan usual, owing to the
drruets and ligbtDeca of tbe lint. Pally twothirdtof tliecrop had been market^d at the data of our replies.
Mississippi.— Our report is compiled from 64 replies received
/torn 28 counties, dat£s ranginjj from Nov. 2S to Dec. 3.
The weather ia reported os decidedly more favorable than during the same
time laat year, ricking has connequentlv heen very rapid, folly H5 per cvnt of
"thexrop having betn Hueudy gmbrred, and it la estimated that the remainder
Theyield ehowa a falling off of W
1*111 be all picKod by tbe lOtn or 15ih loav
ser cent, ana our correHpondenia report that 18 per cent of the crop has already
»een sent lo market. Many ftate that, owing to the fine wcaiher, the qnility
of the cotton thia year Is very good, and that the lower grades are likely to be
W
60?
— 37 responses.
Weather: 17 report the weather for crop gathering never better, 80 much
more favorable Ihan last jcar, 1 about same. Crop Picking : .38 report having
feathered from 6t» U> 95 per cent of the crop. 4 report picking completed t
aver.'ge estimate of crop gathered, 87 ptr cent estimated datefl for compleTiM: 27 estiratte
tion, from 5ih to Silh of December, average date. ISIh.
froaa 10 to 33 per ceut lets yield than last year, 7 from 10 to 100 per cent
iDCrease, .1 about same; average less yield, 10 per cent. Crup UarktUd 37
estimate that 50 to 80 per cent of the crop has been marketed; average esti.
mate, 66 per cent. f'orSlh Eeepanseiit Aggregate. Lab r Morale : 31 report
laborers working well, giving less attention to politics than since tho war,
bot better attention to the varied farm inttrtsta; i report laborers working
moderatclv well, 1 not i\ell, but iutereeted in politics.
:
rally
Florida.—
Tho weather his been mnch more favorable thaa last year for gathering;
A killing frott occurred fiom the lOth to tho 20lh of Nove.-nber,
but DO damage was done, as the crop was fully niatur.:d. Picking will be
entirely over ny tho IMh of December. The estimate of yield varies from 19
to 20 per cent In excess of laat year. The crop is also said to lie betttr calUthe crop.
much
Aug^usta Department
vated that last year, and in preparation and grade
covers
tha
coantles of Oeorjia not
—
;
;
;
—
:
;
;
;
;
;
;
—
;
aggregating li3 per cent of tb<at of last year the failing off indadoa the loss
caused by abont 6 per cent decreased acreage.
ANswan TO PonKTH Qi;sbtion.— Three-fourihs ot the crop la reported la
having beenroiiketed.
Answfr to Fifth Question.— The flenres given by our correspondents as
to the yield are not a po."ltive basis for our calculations, as a proper average
cannot be arrived at without a corrctacd detailed knowledge of Iho acreage
of each county, some being much l.'irger and richer producers tbau others.
On a close and careful anal>'eiM of tho replies, we must atill beieve that the
yield of this section will be fully equal V). and probably greater than, last
year's. At the same time we beg to ncte that the detailed statements of oar
correspondents are now entitled to even greater weii:ht than n:.uat, ai tbe
crop is so neasly gathered that they ought to bo able to form a very c irrect
opinion as to what qnanf'ty they will yet ho able to gather and send to market. Much of the cotton still lu tho flelds is reported as poor in irrad', being
there is great diversity of opinion
injured by storms or stained by frosts,
as to the yield of lint to seed cotton ; bat many of our moct reliable correas the rapid matnrlt.* duiing the
as
ginning
out
well,
spondents report cotton
August heats decreased tha weight of the seed. It seems to be th.; ueiversal
this
crop
has
picked,
ginned
and muketed with a promptopinion that
been
ness never before known.
;
Cliarleston
Department
covers the State of South Carolina, and la prepared and issued by the
Oharlestoo Cotton Exchange, through their Cfommittce on Infannatloii and
8t:itistic8, composed of Jaa. S. Murdoch, Chairman, Robert D. Mure, J. W.
Lewis, L. J. Walker, J. Adgor Smyth.
Soutll Carolina. 30 replies from 25 counties.
The weather during tho month is reported by S-i as being more
;
;
AOOiUraATB,
from West Tenncaeee, North MiMlsrippi, and Arkansas.
Weather: 34 report the weather never moru fivorable during the month
of November, 111 report much more lavoraMe than last year, z about same, 1
114 responses
1.
lass favorable.
a. Crop Pickiag: 91 report from 8H to 99 per cent of crop gathered; 30
report picking completed 8S per cent of or-:>p is reported as having been
ga hered. Baiimated dates for completion from December 5 to January i;
average dat'-, December 11.
& Yield : 101 report that the yield will b« leas than last year by 5 to 51 per
cent; S about same ; 7 report from 10 to 19t> per cent increase ; average loss
^ieiu as compared witn last year, 2-j per oeiru
4. Crop Marketed : Estimates of tte proportion of crop marketed vary from
to 90 per cent: average 62 per cent.
t. About one-half of our correspondents report ttiat result of damage by
frost has proven much more serious than was anticipated on November let;
inany report that tbe yield of lint ia from S to 10 pijr cent less to the 100 lbs ot
seed cotton than last year. .\li report that tho entire crop wiJi be saved, and
with greatly reduced proportion of dusty cotton, as oomparejd wilii former
;
^
1
Norfolk Department.
The Norfolk Cotton Exchange (H. 8. R yoolds. Chairman; Ass Biggs, .ind C.
W. Oiandy, Jr., Committee on Information and Statistics) IssnoJ the lol'.owing
and the following Oountiee in NortK
Ctmlir.a: Rutherford, Lincoln, Catawba, Rowan, Davidson, Iredell, Burke.
Wilkes, Caldwell, Alexander, Davie, Forsythe, Yadkin, Stokea, Surrey.
Ri^ckingbaai, Caswell, Person, Granville, Warren, Franklin, Nash, Wake,
Hyde. PiK, Oreen, Cartarot, Craven, Beaufort, Tyrrel, Waehingto.!. Martin.
Bertie, Chuwan, Pasquotank, Camden, Currituck, Gates, Hertford, NortUmpreport, covering the Stale qf Virginia
tott
and Halifax.
Virginia and Nortli Carolina.—24 replies from 16 coantiea ia
North Carolina, and 2 replies from Virgluia
for gathering tho crop
weather about the aame; 4 aa not being so good ; 4 re
report an averag-i of four-fifths as being picked^
port the crop aa all picked
and will finish by tha iOth of Decoinbrir ; Is report an average of 18 per cent
increase in yield; 5 report an average iucri^aa ot 7X per cent; 3 report yield
aa being about the same.
Gunny B.\08, BAGOiNa, &c. Bagging is ruling dull, and the
demand is about over for the season. Prices are quoted at
10i@llc for light, and lli^allic. for heavy, and thesa figures
might be shaded, as the stock is rapidly accumulating. Tlwse
tigures are quoted both here and in Boston. Bales are quiet, and
holders are asking 9ic. but this is nominal, as there Is no demand. Speculators are offering Sic for large parcels, bat this
Butts are ruling steady in price,
figure has not been accepted.
and holders are now asking 3 5-16c. cash and 3|c. time. There
have been sales of 900 bales, per Staffordshire, now due, at 3Jc.
For December ehipmeut, 2|c. is asked and
cash, less 1 per cent.
2Jc. bid, with 1,000 bales sold, per Empire of Peace, at this figure,
cash. April and May delivery Is offered at 2io., currency, without
finding buyers.
Twelve report the weather as being more favorable
than
last year; 10 report
;
''.I
—
,
LnrsHPOOL, Deo. 1.5— 3;00 P. M.— By Cablb from Ij»rmiPOOL.— Estimated sales of the day were 10,000 bales, of vfiicli
Of to.day'8 sales,
2,900 bales were for export and speculation.
0,20« bales were Imerioan. Tha weekly movement ia giiren
as tollowB
^
Mot.
years.
103 report laborers irorklng well, anxious to make eo»Jracts for eomlng aoason ; giving less utteuiion to politics than any year since
vie war 7 report working moderately well, and 4 report not wor^li-g well ; 10
nyt^t that they arc giving ranch attentlou to politica.
Morale
favorable,
by 15 as the same, and by 2 as loss favorable than during tbe same month last
year. 'The crop of tho State may be regarded as gathered ; 8 report picking
as fliilshed at the dale of their replies, li say from 85 per cot.t to 'J5 per cent
already picked, and that all would be gathered by the 15th Inst. The average
of replies received shows a decrease in jleld in the 25 counties beard from of
16 per cent compared to la?t year. The proportion of the crop already sent to
market is reported at from 60 to 90 per cent ; the average is 1i pe.r cent. Tha
drought in Angnst and the early frost in October are reported as having
reduced the crop from 25 per cent to 3) per cen^, and Ihe pres'int conillioa of
the country is causing it to be marketed more rapidly than usual.
:
Nortli Alabani.i.— 8 reapouaes.
Jftather : 4 report the weather never better 8 report more favorable for
cotton picking than last year. Crop Picking: 5 report frnm fO to 35 p r c?4it
of crop gathered 3 repsrt completed ; average of crop gathered, 93 per cent
estimated date for completion from Sth to 10th December, average date 6th.
TieUt: 8edii*nate from 10 to 25cent less yield than last year; average, 20;V
Ercent. 0n>p Marketed: 8 estimate that from .33 to 16 per cent of the crop
8 been'mnrketec; average 46 per cent. The fict ia genuriilly noted, that the
damage by frost far eiceeded anticipution orr November 1, especially in rich
bottom lands; in Eome ioetanceis, the crop being nearly destroyed. Labor
VoraU : 7 report laborers working well, giving hut little attention t» politics,
but an Improved attentisu to farm labor ; 1 reports laborers not working well,
lAtereaied in politics.
L^or
SavannaK Bepoit.
—
41 respoDses.
Weather: 19 report weather never better, 41 much more favorab'e than for
November last joar. Crop Picking : j9 rep rt having gathered from 75 to 'M
per cent of crop, \% report picking completed; estimated average of crop gath<red, 91 per cent esttmatid dates for completion, from Bth to 3l5t ef DeceinYield: 41 estimate 15 to SO per cent less y.eld than
T)er; average date, 81 h.
CYop Marketed : 41 estimate S6 to
last year; average less yield. J3 per cent.
VO per cent of crop marketed average estimate, t9 per cent. For 5th Respyn^e
tee Ag^egate. La'jor Morale: 37 repart laborers working well, giving less
attention to politics, but grea'ly improved iu application to varied farm
labors 3 report working but moderately well, and 1 not working well, too
olach interested in politics.
Arlcansas (north of Arkansas River). 36 responses.
^reattfr 3 report weather never better, 34 much more favorable than last
year; 1, about same; 1, leas favorable. Cotton Picking: 3'i report having
gathered from tO to 9> per cent of the crop; 4 report completed averu^e of
crop gathered S4 per cent eftimated dates for completion from 5ih to Sist of
YiM : 30 estimate from & to SO per cent less
D«ccrnb{'t average date, Hth.
yield than last year average estimate, 35 per cent. Crop ilarketed : 20 estimate that from 50 to 80 per cent of the crop baa been marketed average estimate, St percent. For Uh Rtepcmte He Aggregate. Lalar I'orale: 33 report
tetH)rors working we'l, less atteiiiiou lo poilrics than since tbe war. and improved attention to farming interests generally 2 report working moderately
vrell, and *2, not well, principal cause unthriftiuaas.
8.
the
In
and is Issued by the Augusta Cotton Exchange, through their Cotamittae
ou Information and Statistics, composed of L. L. ZulavsKv, Chairman, J. J.
Pearce, J. W. Bcholt, R. W. Hoard, C. A. Rowland, A. M. Bouson, Wm. U.
Read.
Georgia. 40 replies from 32 counties ; averajje date, Nov. 3#.
Answer to First Qoistiojc.— The weather is nnanlmoasly reported a*
hnvlng been more favorable than diirin? Noven-.ber. 1875.
Answrr to Skoonti QtTBSTioN.—Ninety.flve percent of the crop is reported
as :tathered ; two counties only report all a^ picked in all the others thera
will bo some picking for the rext ten to twenty days.
Answir to Thibd QoEsTios.— 'the average of our replies Indicates a crop
:
Nortli Mississippi.
included
liaproved.
:
•
{Savamnali Bepartment.
Thts report covers iVorW«rn, Middlt, and 3aiMweatem Georgta Chcmg aH of
Georala, except the 98 counties in sharge of the Augusta Cotton Itxdiangc)
and the entire State ot Florida. The report is prepared and Issued by the
Savannah i:k)ltoii Exchange, thron"li their CommJttou on Information and Statlatics, oomposed of J. IT. Johnston, J. T. Stewart, T. U, Austiu. \7
B.
Woodjjridge and J. deB. K"p- ."TMB ^^^*^^" ~ rrtT"*
i ^J
Satesof theweek
bates.
yeirwardedv
• ->
Sales Aiuerinan
of which exporters took.
•r which speculators tooK
,
Bobd stock
oX wliieh Amei'ican
Totai inuiort of the week
of wJilch Aonerican
Aetnalexport
Amoant afloat....,
of which Americans.
24.
(ZfiOi
8.000
87,000
4,000
7,OT0
445,000
162.000
%'^
i8,0iX)
6,0Q0
SVi,00a
S-W.aOQ
Dec.
1.
101.000
8.000
41,000
?,0OD
S9,«00
<5«.000
171.000
85,000
e«,ooo
Dee. S.
63,0W
4.000
80,000
4.060
Dee.
IS.
tg
41.906
sijroo
463.'00d
48S,(ieo
163,000
^K.OPO
Me,oao
UOfiW
SS,«»
wTooa
831.000
4.000
S?5,O0O
seti^ooo
i»,va
&,ooo
4O».0«O
345,600
.
...
,
.
:
THE CHRONICLK
604
cotton for the week:
Th* foUowlBg Uble wUl «how tbe daUj eloilii« prleea ofThare.
Fn.
WedoM.
Toe».
Mob.
..ae ii-i6..©» ii-i«..©6 ii-i6..«6x
Satnr.
a^t.
MidlwS'd* ..©ex
..-t-t*"''
[December
:
16, 1876.
With regard to New York, welast Friday.
Include the manifests of all veaeela cleared up to Wednesday
night of this week.
The Chronicle
Total bales.
TheM H)M are on
the basia of
UpUnda, Low Hiddlinc
vtoe auted.
claiiM, nnleaa otfaer-
Saturdat.
Jan.-Feb. irtiipmeat,
Feb.-Mar. shipment,
Jio.-l'eb. deliTery, 6 »-I«iai9-3«d
F«b.-M>r. delWerjr, 6 9-16aitl-3i®Sd.
Mar.-Apr. delivery, 6 ll-16d.
Apr.-May dellverj, C 2)-83d.
DoT.-Dec. rbip'n^ Mil, 6 19-'rS®Kd.
Dac.-Jan. abipment, aall, 6>id.
aail, 1 93-33d.
aall, t)i<i.
delivery. 6 9-ltd.
-Apr. delivery, 6 Sl-SM.
Nbw
No«.-Dec. Fbipment, eail. 6 19-S3d.
Hn.-Feb.tbipm'l, aatl, S 11-lM.
Oec-Jan.
delWcry, «X@Sl-3Jd
delivery, 6 Sl-3S®ll-16d.
delivery, C l!-16a«»-8Jd
delivery, t\d.
abipm't,6ai), 6X®ai-82d.
eail, 6 !l-lbd.
shipment,
ahipment,
sail,
Dec-Jan. delivery,
Feb.-Mar. abipm't,
ebip'mt, aall, 6 13-16SS'<;39d
Dec-Jan. delivery, 6
ehlpmeiit, eail, 6 2t>-3Sd.
jFan.-Feb. abipment, sail, 3^d,
F«b.-Har. delivery, reg. con., 6 ll-16d
Delivery,
aMp named, 6Kd,
Dec-Jan,
delivery, 6 9-16d.
Nov.-Dec. shipment, sail, 6 9-lBd.
Dec-Jan. shipment, eail, 6 19-32d.
Mar.-Apr. delivery, BJid.
Mar.-Apr. delivery, 6 21-32d.
Apr.-May deliviry. 6 ii Sid.
Dec. -Jan. ehipment, sail, 6K@21.82d.
Feb.-Mar. thipm't, sail, 6Xd
Nov. ehipnient,
sail,
Jan. -Feb. tfaipm'r, sail. 6 ll-16d.
Dec-Jan. ebipcnent, aail, 6 l7-32d.
Dec-Jan. delivery, 6 17-32d.
Feb.-Mar. delivery, 6Xd.
Apr.-May delivery, 6 22-32d.
I
17-32«l.
sail, 6 9-lf!d.
I
Dec-Jan. ebipment,
I
aail,
To Havre, per barks Anne
1,7C0
S^d.
Feb.-Mar delivery.
Mar.-Apr. delivery,
Dec. Jan. delivery, 6 15 82d.
Jan.-Feb. delivery, 6 15-3id.
6>(d.
(i 9-16d.
Total
Nev» York, tUis week, show r
decrease, as compared with last week, the total reaching 9,419
Below we gire our usual
bales, against 15.302 bales lac* week.
teble showing the exports of cotton from New York, and their
direction, for each of the last four weeks; also the total exports
direction since Sept. 1, 1876; and in the last
for the Bsme oeriod of the previous year;
8Kf>ort«olCatton(bale«)rraai
column the
New York slneeSiept.I 18TG
.
WXKK ENDINS
Same
Total
42.
total
Nov.
29.
to
Dec.
Dec.
date.
13.
6.
period
prev'n?
year.
8,892
aotal to Gt. Brltakln
8,892
17,720
433
11,333
l!j,153
14,336
8,889
138,310
7,143
148,925
1,444
9,319
143,453
153,389
4,968
1,608
6,3!!0
*a*A*Ai
,504
19T
M
185,713;
The particulars of tfaese shipments, arranged in our uauad form,
are as follows
Liverpool.
6,331
24,5&<
11,699
17,689
New York
New Orleans...
Mobile...
Charleston
Savannah
Teias
14,
*
Dan- Bre- Ams'r Birco
men. dam. lona. ToUV
.
Cork. Havre. Rouen kirk
Baltimore
Boston
Philadelphia....
100
1,722
....
,...
4,9o8
3,:83
J,7J3
1,804
1.S92
3,679
1,906
Wllm'ngton....
Norfolk
San Francisco.
3M
....
10,.S67
736
i.i.'sn
....
S,"!!
2,715
2,116
.
•
• •
230
.
2,000
4,656
1.(.92
....
..
•
8,10i
••.
....
B,6i0
.
•>*
;..'
28,132:
25,156
5,304'
...*
1,142
••'•"
9,119
38,497
17,785
••••
3,895
1.504
1,592
2,675.
2,103
63'
53
.
87,932
7,85!
786
80,639
230
4,756
4il94
7,5(0
135.713
Included in the above totals are. from New York, 1,267 bales to Hull, Ac ;
from New Orleans, 861 bales to Corunna; from Philadelphia, 197 bales tJ
Antwerp.
Below we give
Other French ports
1
'•*?*
2,975
63
,
Total
Other Britlab Porta
2.763
I.li2
1.906
Clive.495
Thb Exports of Cotton from
«nd
!
To Antwerp, per steamer Nederland, 197
8am Fbahoisco— To Liverpool, per ship W. R. GMioe^
Mar.-Apr. delivery, 6 9-16(ai9-32d.
Jan.-Feb. shipment, tail, 6 19-32d.
Nov.-Dec. ahipmeut, sail, 6^d.
Dec-Jan. ahipment, sail, 6 U-16d.
....:
—
Apr.-May delivery, 6 19-35id.
May-June delivery. 6 81-82d.
Apr.-May delivery, 6Sd.
Jane-July delivery, ti^d.
Fough,
To Cork, for orders, per bi>rk Success, 1,142
NoKFOLK— To Liverpool, per bark Erna. 1,504
Bai-tuiobe— To Liverpool, per steamer Austiian. 1,228 and 6t bags
Boston -To Liverpool, per steamers Minneaota. 1,914... Olympus, 661.
Lord
Philadblthia— To Liverpool, per steamers Dominion, 1,410
Feb.-Mar. delivery, 6 n-32d.
Jan.-Feb. detivery, e%i.
Mar.-Apr. delivery, 6 19-33d.
3,189
2,116
Elise, 1,210... Juliana, i>06
1.053 ..John
WiiiiiNOTON— To Liverpool, per barks Denorah,
FUDAT.
Nov.
4,988
2,715
3,103
Carl, 1,288
1
I
shi|.ment, sail. 6 19-32d
delivery, 6 21-32d.
UpUnd
,
tt
Nov.-Dtc. shipment,
....Niigara, 2,688
To Havre, per bark Souvenir, 2,715 Ui^land
To Amsterdam, rer bark Lara. 3,102 Upland
TzzAS—To Liverpool, per ahip Livingstone, 1,900.... per bark Kong
I
6 9-ltid.
6 9-16d.
6)id.
.
.
TnnnsiXAT.
Apr.-May delivery, 6 ll-16d.
May-June delivery, 6%d.
6 9-16d.
Dec. -Jan. delivery,
Jan.-Feb. delivery,
Feb.-Mar. delivery,
Mar.-Apr. delivery,
19-8Jd.
WEDNieDAT.
Jan.-Feb. delivery, 6 9-lCd.
Feb.-Mar. delivery, 6%a.
Mar.-Apr. delivery, ti lJ-i6d.
Apr.-M»y delivery, 6Ji@i3-3Sd.
Nov. ahipment, eail, 6 i»-38®9-16d.
MOT.-Dec. ahipment, sail, 6K®l!)-32d.
Dec-Jan. ahipment, eail, 6Ma.
^
—
.
Mar.-Apr. delivery, 6 S.i^3(ail-16d.
Nov.-Dcc ahipment, sail, 6J4d.
Feb.-Mar. delivery, 6Xd.
Uec.-Jan. ahipment, aail, 6fid.
Jac-Feb.
.
.
Feb.-Mar. delivery, 6 21-3M.
Mar.-Apr. delivery, 6 ll-16d
May-Juno (hipment, tail, 6 18-16d.
Feb.-Mar. ehipment, tail, 6 13-ltid.
6xd.
delivery,
Dec-Jan.
Mw.-Apr.
6 SS-Md.
6 13-16d.
eail,
TultDAT.
Jan.-Feb. delivery, 6 2!-3ad.
]far.-Aprndelivery,6 i3-39®'X®'23-S3d
Mov.-Dec. fhipm't, eail, 6 i'.-iid.
Dec-Jan. ihlpment. Ball, 6 11-lfid.
.Dakota. 4,225. ...Caledonia, 3,731. ...per b»rk Bengal. S.lbS.. 2»,Mt
Havre, per t hip Martha Cobb, 4,100.. .per barks National Eagle,
SO,HT
LcamiDEion, 3,823
To Ronen, per bark John L. Hasbronck, 786
3a»
To Dunkirk, per bark Ignazlc, 230
T
To Barcelona, per steamer Santiago, 2.000
890
ToCorunna, Spain, per bark Eloita, 860
per barks AaHobili— To Liverpool, per ship Loretta Fisb, 6,179
11,«W
aytia, 2.310... Arabia. 3,210
1.48»
••*»»Havre, per bark
Clowes, j,Hou
•*..
iunavre,
uarn W.
ty
E.
d. \^iuwce,
1,430
To
i,ttt
To Bremen, per ahip Frederich, 4,656
Charliston— To Liverpool, per thipo Borneo, 2,006 Upland and 81 Sea
per barks
Aneroid, 2,866 Upland and 126 Sea Island
Island
Seraflna, 1,232
8. O. Biglow, 1,557 Upland and 23 Sea Island
Upland .... Geo. Peab./dy, 2, 1 16 Upland and 81 Sea Island .... Wove,
1,S64 Upland and 18 Sea Island ...Samuel D. Carle'on, 2.597 UpIand....Bc6Bie Parker,2,200 Upland ...Geo. Peake, 1,672 Doland. 17,6e9'
To Havre, per barks Nina Sheldon, 2,017 Upland and 2i6 Sea Island
3,8U;
....Opher, !, 530 Upland and H Sea Island
1,013
To Amsterdam, per bark E'iza Evelina, 1,092 Upland
bark
per
To Barcelona, per steamer Vidal Sola. 2.260 Upland
Rafael de Pomar, 1,100 Upland. ...per bri|;8 Sorpreaa. 500 Upland
5,5«»
...Hugo, SiiOUpland....C. C. Robinson. 1,300 Upland
Savannah— I'o Liverpool, per steamer Trnrac Bat, 4,242 Upland and 100
Sea
and
41
Upland
per
ship
Sonthcrn
Eights,
2,9;9
Sea Island
Islnnd.... per barks Pantser, 1,127 Upland.. .Saleta, l.OOT Upland
H,36»
....John M. Cierk. 2,115 Upland. ...Mogul, 2,800 Upland
To Cork or 7aImouth, for orders, per barks Carleton, 2,300 0;.land
,
tijid.
Aor.-May delivery,
HO:
.
Jan.-Feb. delivery, 6 il-Sti.
6Vd.
I,»i7
—
per steamer America, !00
8,244....
Jan.-Feb. delivery, 6Sd.
Feb.-Mar. delivery, b 21-SJan-l«d.
NOT.-Dec Bhipm't, aall, 6 Si-38d
Feb.-Mar. thipment, tail, 6 13-16d.
I
6fit^
l,?**
Warrior,
OB1.EANS— To Liverpool, per steamers Dieso, 6.593
2,800 and 21 eke. seed cotton... per ships Oeo. M. Adams, 4.044
To
HONPAT,
Jaa.-Feb.
reb.-Mar.
Kar.-Apr.
Apr. -May
NOT.-Dec.
Sec.-Jan.
Jan.-Feb.
Feb. -Mar.
Liverpool, per ateamere Nevada, 1,891.... 7 be (Jueen,
1.086 ...Cityof Richmond, M7... Algeria, 1,751. .per ahip Caravan. 1,038
To Cork, for orders, per bark Aftenaljemen, 1,723
To Hnll, Ac, per steamer Hindoo, 1,««T
To Bremen,
Dec-Jan.
Mar
New Yobk— To
all
vessels carrying cotton
news received to date of
from United States ports
disasters, &c., to
:
atr. (Br.), Wylle, from Baltimore for Liverpool, at HaliTai, Dec 10,.
feporis having experienced a stront; gale utght of 9th, The sea broke
over her, going clear over the bridge, smashing the chart-roum under it
and the boat on the starboa-d side.
Geo. W. Clyde, str.. frum Charleiiton, S C, at New York, Dec. 10, reports on
the 8th, off Ilatteras, experienced a heavy westeily gale, in which abe
Adstbian,
Vrsncli
Bremen and Hanover
677
231
496
911
496
700
216
ICO
4,968
1,603
7,159
1,76 J
1,430
18C8i
10.369
31,690
'203
356
7,402
11,405
split sails.
Total to N. Earopo.
100
80NNTAO— Ten
bales of cotton on the deck of s ip Sonntap, for Liverpool,
lying at Messrs. Reynolds Bros. wharf, Norfolk, took Are abrtut 6 A.M.,
Dec. 9. and were thrown overboard to prevent their deatraclioo, and
gerliaps a dlsastr as conflagration. Damage very slight. Six of the
ales uf cotton were soon afterwards picked np. "The others hod net
been found at a late hour the same evening. Siiarks from the cook'ft
galley was the cause of the fire.
ToBKjHE, shiptBr.), Uavies, cotton laden, from Norfolk for Liverpool, drxged
ner anchois at Norfolk in a wesierly gale A. M. Dec. :i, and was driven
ashore on Lanqjiert's Point near Norfolk. She was hauled off on the
night of the I(Kh, without damage.
Union, ship, Greeiileaf, for Havre with .3,20 bales cof.on, took flre at New
Orleans night of Dec. 2. Amonnt of damage rot stated.
Wbittinoton, ship (Br.), Ruthvcn, for Liverpcol, which put back to New
York Nov. 28, with cargo shifted, mizsen topmast cut away. &c., sailed
agaiu for dcsiination, Dec 10, without replacing the lost to;)nia8t.
TuiSKO. bark (Ger.), from Savannah, was run Into while at anchor in the
Mersey, Nov, 30, and had a large hole stove in her port-bow above the
'
paln,Oporto&aibraltar&c
Allotbera
Total Spain, &o
Srand Total
200
330
158,990
184.247
....
9.K03
18,649
16,302
9,419
The following are the receipts of cotton at New York, Boston^
Philadelphia and Bal^^more for the last week, and since Sept. 1, '7tt'
aoB Ts moH
miW TOBK.
Since
Thia
week.
New
Orleana.
Texaa
,
.
Savannah....
Sept.
1
S,814
3.635
3,493
4!,369
3i,0l3
90,»85
'm6
849
8,055
68.310
41,634
147,159
10,903
40,770
2,463
35,396
476,881
This Since
week. Septl.
PHItJkDKLP'U
BALTmOBZ.
This Since
week. Sept-l.
week
Thia Since
Sept.l
water
9,859
511
3,2C2
8J8
7,676
HobUe
Florida
S'th Carolina
trtb Carolina
Virginia
Rorth'm Porta
Teanesaee, Ac
Foreign..
Total thia year
5,637
S,:i95
9,824
231
4,9-;
6
line.
ai'd
schr., from Mabile of and for New Bedford, was spoken, no
and reported having lost one mast and jibboom in a gale Dec. 3
Captain and crew well. Did not reqairo
3. lat. 35 20, Ion. 73 40.
any
ai^tistance.
Lot riK Bearp,
1,403
6,095
S,6<6
3,236
5i0
7:5
8,032
3,iU4
36,283
7.441
49
16,766
1J,3J0 101,034
2,375
21,958
date,
Julia.— While the lighter Julia, owned by Shortland & Brother, cf 106 Wall
street, was lying at Pier 20, B. R., New York, Dec. 11, laden with cotton, the cargo took flre, and was damaged about $100. The cause of the
fire
has
n,>t
been ascertained.
Cotton freights the vast week have been as follows
6,331
Bteam.
Total laat year.
g^.94t
BniPPiNO News,
395,619'
— The
9.838
85,556
1,936
17,679
3.750
69,7o5
exports of cotton from the United
States the past week, as per lateit mail returns, have reached
185,713 bales. So far as the Southern ports are concerned, these
are the lante exports reports4 \>7 telegraph, and published in
—
Llverpool.-
59,501
d.
Saturday.
Monday
.
..@13-,32
. .
..@l3-3i
Tnesday...
..&n-Si
Wednesday
..ai3-'.2
Thoraday,
Friday
.(an-i2
.®K-32
,
Sail.
d.
.©
Havre.—
Steam.
C.
5-16
@Il-32
^comp.
^comp.
.@ll-32 Jicomp.
.@!I-3i Jicomp.
.(aii-« Jicomp.
.©11-32 jjeomp.
Sail.
"Bremen.Steam. Sail.
c
?^comp.
Jicomp.
Jicomp.
c.
X
Sail.
c.
comp.
..com p.
.
..comp,
^comp.
%comp.
Jicomp.
-HambHr^.-<
Steam.
.
.
comp.
..cnniji,
H
..comp.
—
December
:
:
BREADSTUFFS.
IS,
At—
the demand
;
RawTork
place, and ocean
baib.
bntb.
IM.On
191.170
t6«.T9S
«6,«78
14«,«iS
4*.0«
M.'M
4C0
NJO
I.MO
211.609
401,100
89,708
SI.OOO
".i.QM
lO.MW
....
46,)5«
**,*»>
PhlladelpbU
«S,910
8.\7I8
16,4a>
li,610
1,600
«l,100
IM.OCO
it»^li9
M3.fl8r
2S1.60i
m.lll
l.li>».4SI
I.ISS.STS
l.Sll.eiR
3<H.SM
SfT.Hi
«6I.640
7t},4TT
ti8,.!49
V,23<)
ToUl
Prerlouaweek
week'75
....
to date. 9.480,819 41.Wa S3.1 B3.3n,l» n:.V),l66
<.),iin,l!S'i S'\.tm,'iU l>:i.r,:<i,m I9,e0«,'>3i
Sarau tlmo 1875
I0,»;8,8<l 61,131,170 50.0.V2,8W 1»,7C5,10J
time
1874
Same
9.'2«.'>,'U6 46,910.225 47.I39.8W 2I,M«.4(M
Same time t;m
prices are
Bariey,
Oat*,
I
Hfr,
huah. baak.
l$a,mi !<»,>»
MO
4,Mt
U1.I40
llS,Ti«
SlO.Vit
?^,658
K«,ltt
8,7«t
7,K7,Wi 1.65(,IM
isu*n
4.g33,';W
.^SIO,!?!
9M,t90
S.i83,<M 1,144,187
but foreign
cheaper;
slightly
freights are
Com,
btub.
SII.MT
»t,i>«I
NewOrleans
exchange has taken
in
Wheat,
bbls.
13,500
ToUI Jan.
dull also, and
9. 1878.
Plbar,
Boeton
Baltlmone
atsential change.
lt 8B4bo/isd roBTt roK tab
DBO.
Portland
Montreal
C!or.
The wheat market has been very
lower. Some improvement
a.ho oBAiif
WBBK BNDBD
isn
msrket has Seen dull and d«-cliniDg;
fell off greatly, and allhoogh there wm no great pressure to sell,
prices gave way a little from day to day, until a considerable
Recent large production seems to
decline has been established.
have caused some accumulation of stocks. Holders, however,
express much confidence in the future, and any revival of demand would probably restore prices. To-day, there was no
flour
slightly
605
KBonPTi or rLaoB
Pbidat. p. M.. Dec.
The
.
THE CHRONICLE
1876,]
16,
—
:
TBE O aY Q00D9 TRADE.
advices were weaker, and shippers were compelled to restrict their
operations within narrow limits. Millers have paid extreme
FamAT.
P. M.,
Dee.
ItT*.
I},
choice winter wheat, but at times there was hardly
Receipts
sufficient business to indicate approximats quotations.
at the West continue comparatively light, and speculation is
Operations in the dry -goods market have been very light tba
past week, and were mostly restricted to the distribution of small
lots of assorted merchandise, in execution of orders from jobbers
strong, so that oSarings at any reducUon are but meagre. Today, there was a quiet market, but the close was more steady.
and
for
prices
the South and West. There was, however, au
in spring -weight fancy cassimeres and
worsted coatings, of which consi derable amounts were placed
with the clothing trade, and shirt manufacturers evinced a little
Indian corn has met with an improving demand, and prices
have been hardening the new mixed Western showing, in fact,
• notable advance as its condition improves. To-day, new mixed
—
was ^c. higher, selling at 58357ic.
Rye has been moderately active, but
more
showing some
at prices
To-day, prime Western sold at 83c. Barley, at a
decline to |1 12i for No. X Canada and |1 06 for No. 3 do., ha,
been fairly rctive. There have been further sales of Canada
peas at 90c. in bond.
Oats opened dull and depressed, but close more active
graded, 39c. for mixed, and 42c. for white.
The following ate the closing quotations
inouB.
tbbl.
& West-
McS
U 83^4 50
em
Bxtra SUte, Ac.
Westers Spring Wheat
doXXandXXX
.
City shipping extras.. ..
Oltv trade and family
.
8 85
763
6
Ac.
Ooni meal— Br'wina. &c.
8 5')
5 75;$ 6 So
4 70,a 5 15
3 854 i 0.-,
3 453 i 50
Red Western
Amber do
1
J
j
Flonr, bbls.
O. meal, " .
Barley
I
Canadian
Peaa-Caaada.bond&frec
—
"
Oom,
.
"
Rye,
Barley. "
Oats...."
.
.
.
The following
tables
of BreadstuSs
I
1
49
38 »•
61
90O
1 13
80®
733
00®
904
1
I
1
market has been as
1876.
,
,
in sight
se
05
35
15
fol-
nw tobk.1875.
For the
week.
Since
Jan. 1.
.
Since
Jan. 1.
60,914 1,84^,778
174,155
6,099
615,190 35,669,525
101.838 13,618,956
179,050
19,093
41,205 1,833,983
3,.S73
187.110
417.818 2.1,596.8?5
291,576 ld,4C6,S41
73,783 1,231,969
»....
Sr,S83
1,763
619,118
show the Qrain
I
1
343
...
.
BXPOBTa rBOK
,
.
87,313 3,668,153 3,758.504
134,913
179,0;5
2,7.33
655.710 36,337,833 3S,.39!),031
168,015 26,507,869 21,903,M4
399,081
60,008 I,5i3,8i3
143,896 6,839.389 4 599,4;«
103,153 11,939,469 10,411,393
Wheat, bns.
Malt—State
i
Since
For the
Since
Jan. 1. Jan. I, '75 week.
week.
35
45
48
16(3 60!4
59^ bl
56<4
58
803 ?3
State, a-rowed
State. 4-rowed
|
36
183
25^
383
ana
Oats— Mixed
White
Barley—Canada West...
MSW TOBK.
1876.
,
1
1
Western
Ye'-low
1
1^3
kSoath;ni, ne.T
ye
|
133
SI
1
~
Com-Wesfn miz'd
:
For the
No. 3
1344 187
White
1
In breadstuSsat this
-BBOStPTS AT
ment
70
50
10
50
50
|
75©
6
r,
lows
I
I
brands
BootheTn bakers' and fa
mlly Brands
The movement
85jl530|
503 S 63
5 4.53 5
5 750 7
5 SOO 8
3 50(^'5
5 COj) 6
dowinterX and XX..
Unsound and sour Hoar.
Commeal— Western,
No. Jsprlng
No. Isprlng
I
extras
Bonthem nhipp'e extras.
Boperine
Rye flonr, Bupei
'
Wheat— No.3sprlng,bBSb
I
I
;
4
5
;
no
4,380
138.740
and the move-
to the latest mail dates
9,
At—
.
iniwaokee
Toledo
Detroit
Cleveland
Wheat,
Com,
bbls.
bnsh.
bash.
Gets,
hnsh,
(196 lbs.)
(60 lbs.)
(58 lbs.)
(36 lbs.)
44,;il
261,478
40,656
743
7,219
355, '47
500,433
17.310
308,448
T,-M9
4,803
a '.5.403
201,477
26,663
1,890
Lonls
Peoria
Dolnth
»2,04t
1,715
Total
118,603
l!i,737
133,759
101,504
39,979
8,100
1C9,8«1
6,T41
'i),730
21.4'i3
37,000
31,731
23,100
Barley,
bash.
Rye,
bush.
41,833
r'.3 3
4,31)7
7,3«S
16,800
169,83!
3.0,891
177,388
251,157
83,611
91,161
31,937
ST, 664
Sameflme
Same time
Same time
to date.5.360.03T 5:ib!l,3n 7S.DI>,133 21,071,793 ',431,530
1375
4,654.855 66..>,7.l,S4l 48.0J6.9n5 21,183.153 5.t;0).3t6
1874
5,714,504 74,99i>.9)0 6.1.6ii3,6ai 21,611,174 B,n35,K;«
5.8T7,8();J 61, ',83,513 .'«,51»,053 38,80:,67.'i 5,746,753
1873
1.47;.ifO
1,610,163
TotalAss.
1
Previousweek
Co^re«L<'ngweek,'75.
•
'7V: '11M53
831.8>
l,n;a,Ii2
123,35ft
:,l=l,;ii)
!)(8,70'1
34«,309
818,1S9
'.0,474
78;i.9il
2'i7,78«
9TJ,7i3
75l,06;l
831,116
l.'.i
1
3,.502,696
3,73).(!35
lodate. .8,314.389 27.133.3.35 3I..53:,780 10,218.083 5.4!i5,341 1,635,380
Same time H75
Same time 1874
Same time 1873
2,020.711 36,162.0,33 lS,833.!t8u 18,33;,78.) 4,018,061 1,158.730
59^.513
3,191,634 33,0.13.647 17,2,8,()!t il,('33,0:4 3 706,139
8,315,498 .33,450,516 35,453,738 11,311,731 3,3:6,053
906,568
Shipments of Floor and <3hiAiN from the ports of Chicago'
Milwaukee, Toledo, Detroit, Cleveland, St. Louis, Peoria and
0ulath from Jan, 1 to Dec. 9, inclusive, for four years
1 to
Dec
new
Floor,
What,
bbls.
bush.
9, "76. .4,683,618
1875
B«mBt.lme 1874
Same time 1873
Corn,
bash.
Oats,
bash.
47,96).837 73,127,639 19.633,0?8
5,457.331 57.377. 1 15 42,331,669 18.91 1,282
5,542,3a 69,e4-,,91l 43,r2l,3S4 16,113,517
a,U«,733 55.606,279 49,475,069 2!, 178,046
Barley,
bnsh.
—There
has been a better demand
styles of spring- weight woolens for men's
wear by
the clothing trade, and sales, combiaed with orders for future
were made
to a fair agfi[regate
amount.
Heavy
cassi-
there was
overcoatings. Worsted coatings continued in pood demand, and
large deliveries were made on account of former orders, mostly to
the clothing trade. Clolha and doeekios ruled quiet, and there
was little animation in either tweeds or repellents, although low
grades of the latter found a few buyers. Kentucky jeans were
demand, and satinets moved slowly and in small lots.
Blankets and flannels remained quiet, but steady in price. Dress
goods, shawls, felt skirts and hosiery were severally takt^n in
small parcels for keeping up assortments, but were by no means
In li^ht
800
8,5:«
10,eO0
St.
Same time
Domestic Woolen Goods.
for choice
also taken in fair parcels by the interior trade, and
a moderate inquiry for small lots of plain and fancy
(48 lbs.) (56 lbs.)
67.479
S0.873
13,456
37,869
there was a some-
—
:
Klonr,
when
and other
fabrics required
Despite the dulneaa
completion of holiday assortments.
of business, since the m'ddle of October prices have been remarkably well sustained, especially on cotton goods, which are not
only strong, but have a decided upward tendency. Foreign goods
have ruled exceedingly quiet in private hands, and the auction
offerings were not of special importance.
Domestic Cotton Goods. There was a good export demand
for domestics, hut the shipments of the week from this port wei«
light, amounting to only 349 packages, 137 of which were sent to
Great Britain, 45 to the Cisplatine Republic, 42 to British West
Indies, 43 to Peru, &c. From Boston the shipments of the week
reached the handsome aggregate of 3,000 packages, and it Is
understood that heavy shipments will l>e ready at this port nez^
week fur shipment to China. Brown sheetings and drills were
in steady request and firm, but bleached and colored cottons
moved slowly. Corset jeans and satteens were in limited
request, but firm, and Naumkeag and Eearearge satteens ware
advanced |c. Cotton flannels were in fair demand and steady in
Print cloths ruled firm at about 4jc., cash, for spots, and
price.
Prints were distribnted
4|c., thirty days, for contracts to April.
in small lots to a considerable aggregate amount, and are steadily
held at current quotations, in consequence of the small supply of
daik work in first hands.
for prints
(or the
LAKE AND RIVER FORTS FOR THE WEEK BNDIKO
meres were
1876, AND FROM JAN. 1, 1876, TO DEC. 9, 1876
Caioago
Jan.
quiet until nearly the close of the week,
/IT
DEC.
'.'otalJ*n.
but their investments were on a less liberal scale than usual, and
there was no disposition to anticipate future wants on the part of
The jobbing trade was very,
either Soathern or Western buyers.
delivery,
BECBIPTB
bleached and printed shirt-
California jobbers have been buying a few spring ^oods,
what more active demand
Ubaim.
I
movement
liberality in their purchases of
ings.
weakness.
Boperflne Slate
retailers in
Increased
Rye,
bush.
.3,722,318 S,3I3.8J6
«,639,3rt3
900,.354
3,930,396 3,960,903
4,0:9,958 1,33:^136
active.
—
Foreign Duy Goods The market for imported goods has
been dull and uninteresting, as Is always the case at this advanced period of the season. S.Iks could have been bought at
rather lower prices, but cashiieres were steady, and linen go«ds,
white goods, &c., were held at unchanged prices. Handkerchiefs,
embroideries and laces were in fair demand for the holiday
trade, and kid gloves were dis'ributed in moderate parcels.
A'e annex prices ol a few articles of domestic manufacture;
Cotton Sail Duck.
Woodberry and Dmid
Mill;.
No.0
No,l
3-1
No. 2.
So. 3
No, 4.
No. 5.
No. 8.
81
39
27
26
No.T...
No. 8.
No. 9.
aa
25
24
22
81
SO
No. 10
Cotton sail twine.. 29
Light Diicfc
Greenwood's (7oz.)
Itavens
Grceiiwiiad'8(8oz.)
Ravens
Bear
(8
OE.) 29 In..
do hfavy
(9 oz.).
.
Extra heayy bear..
Muii t. Havens 291n.
<o
1S>^
18X
40ln.
14
16
18
16
23
Woodberrr and Ontario
U.S. A. Standard
.<!«
3S^>.
HOZ....
10 oz
.
21
12 o«
S5
15 oz
81
Ontario Twie, aCin. IS
do31in.(8oz,exal) 17
Sz
[x tvla-'Polbem^s'' t^lt
THE CHBONICIAH
60(5
Commercial Cards.
George A. Clark
[December
In
JOHN
Equily— Between
Q.
STEVENS
and
Comp oinanti", and the NEW YORK &
OSUliGO MIDLAND RAILROAD COMPANY,
othere.
aud
AND
niLWanO'S HELIX NEEDIiES.
83T aud 339 Canal atreet,
NEW
YORK.
E.R.Mudge,Sawyer&Co
AQKNT8 FOK
Waaltlnztoii milai} riileopee
nfs Co.,
Kiirlliigtoii Wooleu Co<<
jutlln,
Kllcrtou
Allaiillc CotOD inilla,
New
SaraiOKa Vletory xurs Co.,
HOSIERY, SHIBXS aud DRAWEaS.
43
A
HKW YOUK,
4S
J
BOSTON.
Wbitk Strsbt.
ISCOAtriiOXT
PHILADELPHIA.
W. DATTdN. a3« CHIBTKnX STBMT.
Wrightj
Bliss
&
St,
Fabyan,
DBT QO0D3 COMMISSION MERCHANTS,
100
Tl
Snmmer
Street,
and 73 Tbomas
902 Cbeatnut
St.,
BOSTON,
NETT TOBK,
PHIIjADEI.PIIIA.
St.,
Brinckerhoff, Turner
&
Co.,
Manofacturers and I>ealer8
lo
,
COTTONSAILDUCK
AnO
b]1
kinds of
COTTON CANVAi., FELTIKG DUCK, CAR COVKB
U!G, BAGOINO. ItAVENS UCCK, SAIL TWINES
*C
0:(TARIO" SEAMLESS BA08,
••
"AWNING
BTUIPKS."
AlBO, AKeats
Dnlted
A
Stateii
tnli ftapply all
Buiittns Company.
Widths and colora alwayi
in stock.
No. 109 Diiane Street.
Olyphant &
Co.,
COMMISSION MKBCHANT8,
Hong: Konc, SUanKbal, Fooctaoiv
Oautou, China.
A
REPKBiiRNTED HT
WLVPHANT dc CO., oreiilna,
KM Wall St., New Vork.
John Dwight
&
Co..
(Ataers,
Dotenduuls.
In pnrBQancc of a decree of foreclopure a"d eale
of the Ctrcnii Curt of the UBiteil states for ihe
Soutliern DiKtri: t of New York, titling in Equity,
made in the above-entitled snit, and dated the ttecond
day of October, eighteen hundred and Bcvcnty-six,
I, Kenneth G. White, the Master therein named,
will sell at Public Austioii. at the Wickh'im Avenue
Depot of the New York
OsweTO Midland Railroad Company in Middlecown, fu the County of
Orange, and State of New York, 0]> Friday, the
twenty-third day of March, eighteen hundred and
sevenly-eeven, at twelve o'clock, noon, of said day,
the premises and property in and by the said decree
directed to be sold, that is to say:
All and siiit^nlar the railroadi*, railways, branches
and riglilsof ways, and other prop rty belonging
or appurtenant thereto constructed at or since tile
date of the morti-age made by the said defendant, the
&
New York & Oewego Midland Railroad Company,
and for the forecioi>ure of which this suit was
hrought, namely: The main line of road, exteading
from the City of Oswirgo, upon Lake Ontario,
through t lie counties of (Jswego, Oneida, Madison,
Chenmgo, Otsego, Delaware-, Sallivjn and Orange,
to the otate line between the States of New York
and New Jersey. The Cortland Branch, from Cortland, in the county of Cortland, by way of Truxton
and De Uuyter, through the counties of Cortland,
MadlMU and Chenango, to Norwichon the aforesaid
main line. Tlie New Berlin branch, from New Berlin, in the county of Chenango, to the afurcrftid
main line. The Delhi Branch, from Delhi, in the
county of Delaware, to the aforesaid miiin line.
The Kingstonand Etienviile branch, from EllenviUe,
through the counties of Ulster and Sullivan, to
aforesaid main line. Togeiherw thallaiid singular
the lands, tracks, lines, rails, bridges, viad«e:8, culverts, ways, righisof way and mtterials, buildings,
ferries and ferry boats, piers, wharves, erection-,
fences, walls, flstures, teiegapli poles, telegraph
wires amd appurtenances to telegraphs, privikges,
easements, rights under leases, terms and partij of
terms, agreement.., covenants, aud contracts of all
and every kind, franchises, rights an 1 interests, real
estate, personal property, choses in action, leasehold and other things of and belonging to the said
New York & Osweg Midland Railroad Company
of every kind, nature and character whatsoever.
And all railway station.^ and depots, engine houses
i.Dd machine shops, witii all the appurtenances
necessary or convenient for the sole, complete and
entire use and operation as well as mainten.moe of
the said roads or railways. And also all the locomotives, engines, tenders, cars of every kind, carriages, rolling stock, materials, tools and machinery
owned on the first d.iy of July, one thousand eisjht
hundred and sLxty-nine, by the said railroad com-
pany, or thereafter acquired by or belonging or
appertaining to said railroad aud railways arid con
nectcd with tl»e proper equipment, operation and
conduct of the same. All of which personal chattels
are hereby declared to be fixtures and appurtenances of the said railroad, to be sold thurewith and not sepa>ate therefrom, and are to be
taken as a part thereof.
And all toHs, income
t sues and profits to be had or derived from the same
or any part or portion thereof, or from any put t or
portion of said term or terms, or either thereof, and
all right to r.c«ive er recover the same.
And
together with all improvements or additions made
since to any or a
of said profiertios, estates, railroads or ra hvays and their appniteuanees. And
also all and ev*Ty other estate, interest, propor ty or
thing whch the taid Railroad Company, on the
1
day of J uly, one thousand eight hundred and
sixty nine, owned or held, tx thereafter acquired
firm,
and heW, and now own and hold necessary cr convenient for the use, occupa ion, operation and
en>iyment of allor any of its said r.iilroads, railways, leases and property rights, privilege* and
frauohisos, or any part or portion tliereof. And also
rights ai'd friviieges to ase the said road beds,
tracks, sidings, turnouts aud switc-es cimsiructed
on tlic liifltdayof Joly, one thousaadeight hnndrid
and sixty-nine, or thereafter constracLd tor the
oonvenient hsj of said railroads, railways and
branches, or jiny of them owned <tr eperatedi by the
said Railroad Company, as fully and eff''ctu-,l1y as
the said Railroad Company Is or w as by law entitled
tohavc or acquire, including ny leasehold or other
privileges or rights under leases or contracts made
all
MANUFACTDRKRS OF
SODA.
New
No. II Old Slip,
)
York.
by the
Tbe jeooiDi; Trado ONLY SnppHed
93 Wall Street,
Sons,
New Torb.
Adser's IVtaarr, Cbarleston.
16 OontI Street,
New
Now
Moniclair
RICE.
Dan Talmage's
S. C.
Orleans.
Radway Company, the
Railway Company, the Sn sex Huluay
crsey Midland
Company, th Middletown & Crawford Railroad
Company, the Ridgefleld Park Railroad Company,
the Middicitowii Dnionvillc & Water Gap S^jlroad
Company, the Rome & Clinton Railroad Company,
the Utica Clinton & Binghampton Railroad Company, or the President, Man-igers and Company of
the Delaware & lludsoa Canal Company. Also all
side tracks, depots, stations. tn»-tables and other
And alto all the equipment, »olling
stock, eu'jines and cars of the said Hiilroad Company, defendant. Also all other property, real, personal or mixed, of tbe said Railroad Company,
defendant, appurtenant to or connected wiih any
of »b« aforesad railroad*, or »vhich has be. n purchased or acquired by the lieceiyers in this cause.
Aivoall the Iranchites f the said >ew York
Oswego Midland liailrond Compajiy, including the
franchise of bein,' a Corp. ration, which the taid
comiiiany possessed on the first day of July, one
Ih.osand eight hundred and sixty-n ue, er wl.ich it
afterwards acquired, tlnd which are necct«iry
mat. rial or useful in conneetio with the ownc:rehjp, uso or op ration of the aforesaid railroads
Also all tl.e rights of the said Railroad Curaiany
defe'.dant, to the tc'egraph wcctid and used aloiii
its aforesaid railroads.
Eiapt ng. however all the
railroad of said Kiulnmd Coinjiany known us
the
appurtenances.
&
<
.
JOSEPH GILLOTT'S
STEEL PENS.
Sold by all dealers throu£k<mt
tlbt l]^orhi.
1876."^
Financial
STATES CIBCUIT COIIKT,
Bro. UNITED
80UT1IEKN UISI'HIOr OF NKW YORK.
&
i6,
Western Esionsion, Citonding from tl.c t wn of
Outtland to Freoville, and from Iffo.vUIe In tbe
OJUuty of TX)mp iu«, weetwardly and north-
wardly to some point on the Niagara river, in
the county of Erie, and including la such eicepiion any interest in or right to tlie use ol
the track or railroad of the Utica Ithaca A Blmira
Railroal Company, between Cortland & FrecTllle.
And exantiun 'tho the three parcels of land in the
village of Middletown, in the County of Cran««,
and Stat, of Niw York, heretofore conveyed by Ihe
said railroad company to the defendant, David
Wiufleld. by d.:cd dated the flr.t day of August, cne
housand eight hundred and seventy, and now held
and piseessid by him And also n^ pting the following lands in the villaie of Middletown, heretofore convey.jd by the said railroad company to the
defendant, Malhias Don. .hue, and now held and
l)o-ses.«cd by him, viz: Two small triangular pieces
.-f land in said village, lying between Myrtle Avciwie
onthenorth, andihe i.remi.-icsof John Collins on the
south, and a line parallel with and ninety fee) from
C
the centre line of the railroad of said company, a»
the same is 8iir\-ey.d, laapped and located, on th*
west, and to the limits t>f said company's land on
Ihccust, the same being all the lands acquired by said
company, of Jacob F. Smith and Pierce respectively,
which lie easterly of said line, parallel with and
ninety feet, as aforesaid, fr.im said centre line of raid
company's roadway. And a'so rxcep ii'Q all those
several lots, pie:es and parcels of land situate, lying
and bekig in t he town of Miuisink. Conn y of Orange,
and State of New York. describKl as follows:
The fir^t of which said i.ts is described in a cjnveyauce, made and exr-cutcd by Marcus S. H.yne jnd
wife, to the New Y'ork & Os%vego Midland Railroad
Com. any, and recorded in Orange County Records
for Deeds, in Liber No. a>, on page 8*3, etc. The
second of which said lots is described in a deed of
conveyance, made and execuied by Lewis TutbiU
and wife, to the
New York & Oswego
Midland Rail-
road Company, and recorded in Orang*?. ConnW
Records for Deeds, in Liber No. 2.3(>, on page 2T3,
etc.
The third of «hich said lots is descnbed in &
deed of convejaece, Tude and executed by Lawson
Dunn and
wile, to tue New York & Oswego Midland
Railroad Company, and recorded in Orange County
to Liber No, 23H, on i>age -XH,
etc.
The fonrtU of .vhich said lots is described In A
deed of convejlnce, made and executed by Dennis
Clark and wife, io the New York & Oswego Midlsnd.
Railroad Con.p&ny, and recorded in Orange County
Itecords for D«.eds, in Liber No. 240, on pa-e 209, etc.
The fifth of which said lots is described in a deed of
convey.once, made and executed by Wiiliiiin W.
Tuttle and wife, to the New Y'ork & Oswego Midland Railroad Company, and recorded in Orange
County Records for Deeds, in Liber No, 2B2, of
deeds on page .'jftl, etc. The sixth of which said
1 it-, is described in a deed of conve3'anco, made and
execuod by Henry White and wife to the New
York & Oswego Midland Railroad Comiiany, and
recorded in Orange C.unty Records for Deeds, in
Liber No. •3^'!, on pa'.;e W. etc. The seveuth of
Records for Deeds,
which taid
lots is de.-cribe4 in
a deed of conveyance,
made and executed by liridmt Dimovan. to the Naw
Y'ork <fc Oswego Midland Railroad Company, and
recorded in Orange County Records for Deeds, in
Liber No. 2SS, on page :54, etc. The eighth of
whi<rh said lot* isdescribed bya deedof conveyance^
made and executed by Elias F. Morrow, to th New
York <fe Oswego Sfld ;m'J Railroad Company, and
recorded in Orange County Records for DeefU, in
Liber No. *2-8, on pages 170, etc.
'i he said property will bo sold in one parcel.
T%e
leasehold interests in th.i Utica Clinton
Binghampion Railro:id and in the Rome & Clinton Haflr.>ad will be sold separately, if the complainants so
di;ect or .assent.
The eale will be made subject to judgmeuts
obtained for right of way and claims therefor, and
also subject to all suiu.s due for taxes, and also snbj.'Ct to airy unpaid claims of any of the employees
of tJhe Re.: ivers, and of all others for labor or for
sapjiliei furnished for the O',)eration of the railroad
from Uie t me of the first. publication of the notice
tif sale of ttie sai.i ij-opcrty under the Ktiddecr**,
up to the ti.ne of the delivery of the deed to tl^;
pTucha.'er, so that the said claims of employees and
other* for labor and supplies shall not sxoeed the
sum of fir.y ihousand dollars, whidi claims, indgnieni and taxes shall be assumed by the purchaser
in addition lo the amount of the purcliase money
or bid.
The mortgaged premises will no! be sold at snch
sa e for a less su-ai than two million five hundred
thonMUid dollars in lawful money of the United
(Jtatcs, and if no bid of two million five hundred ilions ind dollars be offered, the Master will
rtdjoorn the sale, from time to time, until the
f ui ther ordor of the Coart.
&
Of tlie wh»l« piHTiliase money, not less than one
huiKlred tboB^aad dollars will be required te be
paid in cash at the time of sale, and at the tin>! of
ihe delivery of the deed so mneh of the total pucchas« laoney shall b paid in ca^h as Aall be necessary to pay and discharge the certificates issacd and
lo be ia^ued by the Receivers of the said Railrond
heretofore appointed in this cau^e, with the intercac
accrued aud to acciue thereon, together with all
other obligatk>ns, liabilities or in-lcbtednesa of the
said Ret.ivcrs; and there shall also be paid in cash
s« much of tlie &iid purclia-^e money as shall bo
necessary to pay and discharge all unpaid taxes not
assumed by the purchaser upon the said mo. t'^aL-ed
.
premleet*,
and
all
the costs, fe«8,
allowancesanucom-
pensation provided for in said decree, as well as all
the (ixpenses of the said sale. For the remainder
of the pui'chase money the Master will receive
any of the Receivers' eerlificates or any of the pastdne couiiona aul any of tbe bonds secured by tbe
aforesaid mortgage set fortii in the bill of eomplaiut,
each sucli ftcrtiticato, coupon and bond beiag re
eeivcd for siich sum as the notder thiTeof would b*
friititlcd to rcoeivc under the distribution ordered
by said decree, and occorduig to tbe pi'k>cilte»
therein adjiulj;. d.
Dated, November
21, 1876.
KENNETH
G,
WHITE,
Maslcf.
AlBSAKJJER
&
QnTBW,
Cfim{>ll>:naiat6' Solicitor?,
ilo. aiC Bnadway,
/«ew Yerk Ctty.
@FedFRASER