Full text of Commercial and Financial Chronicle : December 5, 1896, Vol. 63, No. 1641

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

[ E n t e r e d a c o o D l i u j j t o l e t >i O o u ,-ra -s-i. i a t h e y e a r 1 3 3 0 , b y t h e W i l l i a s i B . D a n a C o m p a n y , I n t h e o f f i c e o l t h e L i b r a r i a n o l C o n g r e s s ,

V O L . 63.

S A T U R D A Y , D E C E M B E R 5, 1 8 9 6 .

% hc

The week’s total for all cities shows a gain of 4 *4 per cent
•over 1895. The increase over 1894 is 10*2 per cent and the ex­
cess over 1898 is 9*1 per cent. Outside of New York the de­
crease compared with 1895, is 3*0 per cent, the gain over 1894
is 2*0 per cent, and the increase over 1893 reaches 3*5 per cent.

C h r o n ic le .

P tT B L L S H E D

W EEKLY.

-

P IN E S T R E E T , N. W , C O R N E R O F PEA R L S T R E E T . N. Y,

OL E A R IN G H O U S E R E T U R N S .
F o r th e m o n th o f N o v e m b e r
e x h ib i t is a s f o ll o w s :

and

th e

e le v e n

m o n th s

W eek ending N o v e m b e r 2 8,
th e

E leven M onths,
1896.
N ew T o r* .
P n iu d e ip tu * .
P i tts b u r g ,....

1895.

WaabiOfttozL'

Brimoa*#....,

M l & S t®

9.2*17.7 m

...
W ilm in g to n

2 .1 7 + 3 ’i
L im jb m
T o t a l M id d le 3,lo-4Jl 11731

B o s t o n .............
P r o v i d e n c e ., .
H a r t f o r d — ,.
N sw H a v e n . .
S p r in g f ie ld . ..
W o r c e s t e r . . .*
P o r tla n d ......
r a i l H ir e r ....
&

7 b a s x
T o ta l H. & m

I

1895.

1
$
2 M t W O M i 2.593,2- J0,25S
25?,* 26.4»+
55.02^.217
oo,*?g,e>»
i+3-*o,9Sc
7+40+90

Baltimore....
Buffalo -........

p .e

424.O07.rO0
m .7 « A 0**

b J im j m
i
2 K lU s V
i j m 2m

2 0 .2 1 1.835.95? 2-5
-2 * 7
S 2 l.l9 l.9 7 5
2 C ii1 ,111,171
3,241.219,513 -10*3
07,1/78.327
683,556,07 078,38->.i>31 +0*8
57.977,014
055,^31.481
033,s0ft,$>l 4. 3-5
•0.-415.01?
200,705.788 —0 1
2» *.923+83
7 .7 0 1 .2 +
87,767,904 +0*03
7,>61-3 *4
l , .*>71.085
? 3,039,212 -2*0
5,707,52 4
45.517,719
47,675, HO —l '5
fi,58d.W >
8».v2*.835
36,205.361; +8*3
32,208,01«
33,078,019 —5*0
3,211.1 »7
1 , m,7i»>
15,047,700
1 6 .1 6 ^ 3 0 0 ! - 7 '0
-HHI 30,036,201,516 31,902,593^55 j -3 * 2
421,803,532
m j i A lo
9.950+11
7,433,0.10
7.1 H M L

s#
1 .20 1 , *'*9
3,133.07#
1,059.04!
497,079,62 a. —2*1 4.703.104,00.

*7,851,500
*Mj.'-*4, |.0d
20,17 + 2 4
18.0»0,+nJ
si

Mmlmmmtoo..
AMeon. ......

B a r C u r .- ...
Book f o r d . ..
S p r in g f i e l d - ,
G m aw a
T o tu M .W e « u

8 * q TrmamMW.
S a lt L a k e O k fi
P o r tla n d ..
L o t A n g e l*
H e l e n * ....
T a c o m a ....
S e a ttle ....
S p o k a n e , ..
f t r r o . ..
S i o u x P a li*
T o t a l P a c ific

l,OtP,>4*<
L H l.rO G

m r^m
7z* M n

5*56.177
S5
509,701,440
fit, -171,04?
6 , *04,078
ajuT
i:,? I0 .4 t5
i ,975.000
2J&M.A4*
2 ,0 18. *51
2,078,7 ?»
IMS'* Igt*
a n ijfid

83.058,928
10,709,600
5,6 70,901
5,744,248
4.305,823
3.187,900
2,034.354
1,605,041
1,206,247
081,812
554,502
295J-80
249,337
264,790
212,698
220,474
1 17,048
103,139
120.788,627

-1 0 * 7
-4 0
-9 * 6
—10*3
—7'0
—13*1
—2i*3
—13*»
- 0'2
-4 7
-1 8 4
—23*5
—6T
- 1 4 -8
—15*0
-1 5 ’
-0*5
-1 5 * 9
—10*4

S a n F r a n c is c o ....
S a l t L a k e C i t y , .. .
P o r t l a n d . .......... ..
L o s A n g e l e s ..........
H e le n a ............
T a c o m a . . ................
S e a ttle ...... .. .. •
S p o k a n e .... . . . . . .
F a r g o ............. ..........
S i o u x F a l l s ............
T o t a l P a c i f i c . .. ,

12.007,215
1,521.095

959,451
544,321
501,317
497,781
480,474
110,371
07.000
13,162.927

13,930,132
1,408,430
1.049,901
1,267,870
479,086
471.177
495,155
337,644
129,320
66.501
19,745,322

-1 3 8
+3 6
+39 S
-2 4 * 2
+13*5
4 -0 4
+0*5
+23*9
-IC O

K an sas C ity ........
M in n e a p o lis ..... .. .

10,014,060
7,017,015
3,594.524
4.029.006
1,980,707
000.GOO
903,689
705,760
394.051
303,828
251,860
390,000
35,345
71,190
31,504,390

9,012,248
8,902.105
3,587,008
6,060,896
2,470,023
1,047,516
1,063,34
941,921
595,874
892,978
394,786
437,260
41,574
55.190
34,052,533

+11T
—15*0
+ 0*2
-8 * 3
—1 9 6
-4 2 * 7
—9*4
—25*1
—33*7
—23'7
—36*3
-9 * 4
—1 5 0
+29*0
“ —7*3

t . L o u i s ........... . . . . .
N ew O r le a n s .- .....,
L o u is v ille ...........
G a l v e s t o n . . . . . . ........
H o u s t o n ......................
S a v a n n a h .... . . . . . .
R i c h m o n d . .. . . . . . .
M e m p h i s ............. .
A t l a n t a ...........
D a l la s .....................
N a s h v i l l e . .............. . .
N o r f o lk ........................
W a c o .............................
F o r t W o r t h .........
A u g u s ta ..... . . .
B ir m in g h a m ,,.....
K n o x v ille . ...............
L i t t l e H o c k ...........
J a c k s o n v i l l e . . . . ..
C h a tta n o o g a ....* .
T o ta l S o u th e rn .

21,026,327
9,530,320
4.7^0,222
3,115,350
3.271,1+)
3,267,381
2,157,802
2,299,431
1,309.510
1,535,8=18
1,205,898
938,408
1,400,619
468,770
370,188
481,5-8
413.404
325,271
195,130
217.708
58.825,945

21,103,820
10,991.118
5,143,878
2,787,865
3,145.384
3,123,250
2,034,646
2,639,708
1,382,354
1,492,473
861,654
1,043.685
1,018.9 4
552,9 *u
700,000
492.192
411,149
341,884
204,928
203,395
69,654,441

-0*4
—13*3
—7*1
+ 11*8

983,207.512

941,700,485

891,948.596

901,481,678

T o t a l a l l . . . . ........
O u t s id e N . Y o r k

414,004,011

427,435,163

-3 * 0

403.394,013

400,513.047

M o n tr e a l.
T o r o n t o .....................
H a l i f a x ......................
W in n ip e g ...... . . . . .
H a m i l t o n ....................
S t . J o h n * . ...................
T o ta l C anada.

9.121.586
5.800 393
1.071,230
1,807,467
534.602
449.691
18.395.338

12,370,941
7*265,070
1,214,088
1,937,339
044,641

—28*3
-2 0 2
—11*8
—3*6
-1 7 1

11,547,487
0,111.586

10.814 994
0,172,763
1,156,939

23,432,685

-21*5

T o t M id . W e s t ’r

45.1*1/5
800,816,878

S t 0,o 8 1,073

O m a h a ..... . . . . . . . . .

S t. P a u l . . . . . . . . . . . .
D e n v e r .......... . . . . . . .
D a v e n p o r t . . . ............
S t. J o s e p h . . . . . . . . .
D e s M o in e s ...............
S io u x C i t y . . . . . . . . . .
L i n c o ln
..........

...

Bfc. P a u l . . . - D e a r e r . . ...
S t . J o s e p h ..
R e s M o in e s .
S i o u x C ity
J A m m tn . . . . . .
W ic h ita .... .
T o p e k a .. . . . . .
F r e m o n t.. ...
H a s tin g s .....
T o L o t b 'r W

74 727,971
10,215,360
5, 38,911
4.810,505
4,000.053
2.789,100
1.001,557
1,351.900
1,204,092
049.730
452,547
226,398
231,010
225,000
100,819
180.4-1
116,512
137,269
108,104,831

C a n to n ...,.............

K a n s a s C ity ..
M in n e a p o lis ...

O fflK M ...

+13*6
—15*1
-1 9 0
-t-**2
—26*8
-3 * 0
+ 21*2
+ 3 5 '2
+2 9
+ 19*S
+10*5

S p r in g f ie ld , O h io ..

hm ,w &

W ic h ita ...............

T o p e k a . ......... . . . . . . .
F r e m o n t..
H a s t i n g s .....................
T o t . o t h e r W e s t.
1,400, S & U 6* 1,503,073,391

097,981
—7*9
-3*0
41»,306,693
257,063,770
—16*3
-5*8
114,111,749
1 09^08,573
-2*4
H o u s t o n .........
H2,»23.796
+ 2*0
Savannah. .
—7*0
103,143,074
R ic b r o o c d . . .
93,067,009
+9*0
M e m p h U u .. ..
61,519,430
A tla n ta . .. ..
53,-513.5*29
+0*7
DmH a s _____
14,0*5, l i t
+1*3
N a s h v i ll e . ..
+ u *i
45.657,1*4
N o r f o lk . . . . . .
37,290,407
-1 1 * 7
W « c o ...................
29.778,190
83,092! 008 - 11-0
F o r t W o r t h . .. :
+ 22*2
23,9*0,V7d
27,868.7
A u g u s t * ... ----13,743,495
- H *2
B i r m i n g h a m . .1
—7*8
14.452,48 ‘
L i t t l e R o o k . .. |
—14*0
12.90 4,6 42
J a c k s o n v ille . -|
.11.6959370
’
~^5‘4
C h a tta n o o g a ..
-5 1
299 0+'.W4; —8*81 2,019.04+0-5?
T o t a l S o o th —3*0
?«*,*,***( ♦ J a S . 103.7 06 —4 + 4 C l 6 0 .6 0 4 1 ^
T o t a l * 11— k
O u t s id e N . f . f 1.02O .«i 6»w48 ;2, 1* 5,98/ ,40? - 1 0 o j20,251.7 05, lob 21,2? 4,095,209
529,028,321 -9*9
470.824,90?
51,397.772 —7*7
SO,215,112'
M o n tr e a l,;....
308,8-5,574
2? 4.907,506i + 1 2 A
29.129.28 i . 28.643,770 4-1*7
T o ro n to -. . . . .
66,616,191. — 0*2
65,025,981
14.444.092 — 8*2
5,0 0 ,mW(
H a lif a x ......
19,243,8*83i +14*0
56,400.403
8,50 3 .2 /2 -r-»
wr
+ 4 Si
3+06,175
W in n ip e g ,. . . .
31,052.985‘ —All
30.702,767
3 ,3 0 4 ,9 0 6 -15*1
& 8W .74A
H a m il t o n ... .
0 3 9 .7 4 S .9 7 9 _ - !*2
»«,»«*«/V*»* ^+M? S i3 t l S i -4*2!
T oft,

S t . L o u i s ..
N ew O n e s o i.
L o u i s v il le ...

- p«r table ®i clearing* by telegraph eee Page 093*

1893.

80 231,847
5,373,70b
2,038.725
1,234,394
1,373,344
1,211,088
1,002.900
817,899
555,331
335,592
94,234,326

A k ro n ,.. . . . . . . . . . . .
Bay C i t y ...........
R o c k f o rd ..... . . . . .

2.28 M»8 l
2,2*46/8 8)
l.vfiO.401

1890.
p . c e n t.

1,889.5*5
1.201,058
1,0 0 5 ,9 ‘8
1,107,215
1,288 301
1,100,049
571,501
402,035
104.181,328

B o s t o n ............
P r o v id e n c e ...,.
H a r t f o r d .............
N ew H a v e n .....
S p r in g f ie ld .. . . .
W o r c e s t e r .. . . . . . . . . .
P o r tla n d ...........
F a l l R i v e r ...............
L o w e l l ........................
N e w B e d f o r d . ........
T o t a l N e w E n g ..

I n d i a n a p o l i s ..........
P e o r ia ...... . . . . . . .
T o l e d o . . . . . ............
G r a n d R a p i d s ........
D a y t o n . . . . . . ..........
L e x i n g t o n ...............
K a la m a z o o ..... . . .

60,000,516
6,910,884
6.310,161
«,.567,318

*
568,i,062.901
60,,048.955
12 285,040
1 1 ,,791,777
3,,910,049
1 , 405,440
1 ,,204,463
831,173
892,104
502,423
229,100
082,308,083

1895.

+ 10*6
-3 4
-1 8 5
+5*5
+ 14*2
-1 4 * 4
-5 * 9
—40*2
4-4*5
-1 9 * 5
-1 1 * 5
+8 0

C olum bus. . . . . .. ..

5,758,047.010 i

1896.

514.265,322
02,803.094
15,067,018
11.181,488
3,801,012
1,042,832
1,278,208
1,389.742
853,4u0
624.179
258,900
013,225,231

N e w T o r * ... . . . .
P h ila d e lp h ia .
P i t t s b u r g . ...........
B a ltim o r e .......
B u f f a lo ...........
W a s h in g to n ,.,# .,..
R o c h e s t e r . . . . , ........
S y r a c u s e .................
S c r a n t o n . . . . ..........
W il m in g t o n .............
B i n g h a m t o n ----- -T o ta l M id d le .,..

D e t r o i t ............. .
C l e v e l a n d ......... . . . .
M i l w a u k e e .. . . . . . . .

56.1*0,0/0
27 d l 7.0 +
27.825J 51
22,179,804
10 . l s 2 .MHi
10 ,7v 4,053
7
3.674,924

1.3 3 / 0 0
M S t , 2Go
1 ,085,70 i
858,31 i
766.341
7 2 ,036
587,211,966

OUaringt at—

C h ic a g o .............
C in c in n a ti..........

w ij& s .m

CaiO M fo
O la c ln r u

N O . 1 ,6 4 1 .

8

,

9 1 1 7 7 258

1,407,902

* N ot included in totals.

+0 8

—b ‘0

+ 6*6
-1 2 * 9
-5 * 3
+2*9
+40*0
- 10*1
+38*0
—15*2
+25*6
— 0*1
+0*5
—4*9
-4 * 8
•+-7*1
-1*4

115,190,788
14,450,450
1.719,412
1,090.151
996,176
554,240
574,850
480,552
2 2 0 ,li|3
83,733
81.719
20,263,186

18,190,230

8,200,640
7,044.078
4 403 207
3,789,892
2,256,045

7,347,498
6,051,547
4,434.708
3.027,982
2,131,902

1,165,039
753,251
637,734
457.862
570.1*6
452,686
63,334
79,905
29,873,759

1.838.79®
007.4581
084.508
490,924
4 05.102
367,320
57,90
___ 120,000
28,215,050'

20,409,714
11,130.629
+94/3.351
3,688,042
3,290 827
2,900.63'''
1,9; 0,033
2,542,187
1,189,262
1,511,330
908,030
907,350
900 000
885.000
010.000
353,002

20,101,944
13,482.167
5,055,591
3,470,858
3,722,978
2.302,242
1.870,028
1,554,723
1,170,763
995,277
747,42<&
1,269,250
700,000
528,561

353.742
109.499
58,448.640

330 .2 9 8
___ 101,09ft
57,702,721

1 110 ,0 0 0

1.595,210
699,079

23b 82&

758,'6381

20.965,361 " T S 886.355

984

1H E CHRONICLE.

and mainly for the reaso-aa mentioned, the foreign ex­
change market is experiencing a scarcity of comisuercial
Our foreign exchange market has for weeks been bills when under the existing favorable state of our
wholly out of accord with the merchandise trade con­ merchandise trade the offerings ought to be in excess of
ditions. This has puzzled many and they are asking the demand.
We thus see that currency conditions which lead to a
why has it ruled so at variance with the state which might
have been with good reason anticipated? The reply glut of moaev in Now York at periods of business inac­
constantly made is—and no doubt it is in a general tivity derange our foreign exchanges and our foreign
disturb confidence and
way the true explanation—that the high exchange trade, and these in. turn serve
rates exist because money is cheaper here than in Lon­ injure domestic trade as welL And yet at the si me
don. Left without further analysis, that answer serves time while money may on these occasions be worth only
to confuse rather than to enlighten those who live out 1 per cent a year in New York, there is no decline in
of contact with international operations. Surely, says ra’es at all in those interior sections where capital ia
the inquirer, dearer money in London than in New scarce, but they continue to rule very high there, often
York cannot of itself accomplish anything towards higher even than when nqoney is ruling at 6 per cent at
■paying the indebtedness Europe may owe us. Most cer­ this center. By and by the trade conditions will illus­
tainly not, we admit. But while it cannot do that it can trate another feature in the working of a had currency
and does lead to transactions which either defer the debt system. This will develop with the return of business
or pay it. The past months and years, while our credit activity. The reader may look for it in the autumn of
has been clouded, have been a source of large experi - 1897 should business be prosperous then and crops
ence. Among other things they have taught us that good. It will be just the opposite of the present states
higher interest rates in London are an added induce money wid be aotive, hard to g -t and rates high ho re
ment for the return to us by foreign hollers of Hrgo and all over the country. For the truth is, in the
blocks of pur securities in payment for our produce working of an unsound currency there is always frioand other exports. Since the election the credit of tion one way or the other ; the tendency invariably is
the country has so far improved that the net security to run to a glut or a famine in New York, and at
movement has probably been small and the pre­ either extreme to be a disturber of trade inate d of
sumption is that since the 3d of November there has being thoroughly responsive to the volume of transac­
been on the whole very little liquidation of otir irier tions and so acting as merely to facilitate transfers.
If one wants to contrive a good currency system, let
chandise trade balance by a return of securi ies.
The question consequently remains to be answered— him note closely the operation of the unnaturil affair
why is it then that foreign exchange rules so high? In we now have and our trials and struggles under it. In
other words, what has made commercial bills so scarce that way he can at least learn what evils to avoid, and
while the trade balance is so large? A general response will learn that thoroughly well, unless his mind has
among bankers has been that the lower interest rates here passed the teachable state because already astride of a
than in London leave a profit in the purchase of, and hobby.
therefore have given rise to a continued demand for,
A notable feature of the week, and indeed a feature
long sterling for investment. To supply that want which has held a conspicuous place ever since the
bankers’ 60 day bills in large amount have been bought, election, has been the vast amount of bonds put
and of course those transactions call for the purchase afloat, and all of them in our home markets. We
by the bankers of a like value of commercial know of but one loan in the floating of which
bills to cover their sales.
Moreover, the same in­ a- y attempt was made to enlist the interest of Euro­
fluences which have led to these purchases for invest­ pean buyers. In our State and City Department to-day
ment have also in some measure induced the hoarding (page 1029) will be found our usual monthly compila­
or holding back of commercial exchaogn G-ranting tion of State and city bonds sold in November. It
these facts are correct, and on the supposition that seems that the siles actually reached the phenomenal
they fully explain recent international capital m ove­ aggregate of $34,605,894, and they were all put out at
ments, and hence are the only cause for the rise good prices. The largest sale of State and city bonds
in exchange, the conclusion would be authorized any previ >us month was $17,306,564, in December
that the higher rates could be only a temporary aflair.
1893. This week several issues of railroad bonds
But those matters do not by any means cover the have been announced.
A sale was made by
whole case. On the first of January a large amount the Pennsylvania R .ilroad Company to Speyer & Co.
of interest and dividends falls due on our obli­ a1d Kuhn, Loeb & Co. of $3,000,000 Pittsburg Cin­
gations held in Europe. Some years these moneys cinnati Chicago & St. Louis 4 per cent bonds. The
remain here to be invested. This season the relative same company also sold to Speyer & Co. $1,300,000 4
conditions of the money markets of London and N-w per cent forty year gold bonds secured on the D daware
York will most likely attract the greater part of these River Bridge at Bridesburg, and $1,400,000 4^ percent
payments to Europe. Furthermore, merchandise im fifty year gold bonds secured on the newly-con­
ports are on the increase and the presumption is th°y structed Ohio River Bridge connecting Cincinnati
will be larger still in January. With these high rates with Newport and Covington, Kentucky. Ttn-se two
for money ruling in England, lower prices and larger issues were subsequently sold to Harvey Fisk &
discounts on purchases of goods are procurable by Sons, and Mr. Fisk states that they have already
remitting at once, aad this course is facilitated by the place! the larger portion of both issues.
Be­
active demand in New York now for commercial paper. sides the foregoiag ’t has also been announced
Finally there is always an amount of foreign money, and that the Louisville & Nashville Rulroad Compiuy has
as for that of domestic money also, which is employed made a uegoti itioo with Kuhn, Loeb & C>., Spiver &
hereoD call or short time so long as it pays, which leaves Co. and Vermilye & Co. of $3,258,000 Louisville
when money becomes cheaper than in London, and Cincinnati & Lexington Railway general mortgage gold
this transfer likewise absorbs bills. Altogether then, bonds, interest reduced to
per cent, now being part

THE F IN A N C IA L SITUATION.

DECEMBia 5, lttd6,]

THE CHRONICLE.

985

of the Louisville & Nashville treasury assets. net earnings of the company will substantially improve.
The eagerness our leading bankers show in taking He adverts briefly to the Baltimore & Ohio receiver­
all these offerings of State, city and railroad ship, and expresses the opinion that the improvements
bonds, and the rapidity with which the bonds are ap­ contemplated by the receivers in that company’s motive
parently passing into the hands of investors, is a new power, equipment and other property will be beneficial
phase in the situation, and striking evidence of the com­ to his road, as it will enable the Baltimore & Ohio to
plete confidence felt by our owa people in the stability increase the volume of traffic to and from the territory
of affairs sines the Novembsr victory.
of the Southwestern.
We have already referred to the growing ease of
As foreshadowed by the weekly returns, our state­
money. Linders now are seeking borrowers both on ment of bank clearings for the month of November
time and commercial paper. For time money on good reveals greatly improved comparisons over the months
Stock Exchange collateral very low rates are recorded; immediately preceding. The decrease from last year
we hear of round amounts put out as low as 2$ per cent is only 2'8 per cent, against 12-3 per cent decrease in
for sixty days and 3£ per cent for five to six months. October, 11*3 per cent decrease in September and
In commercial paper the business is chiefly in single 14'2 per cent decrease in August. The better show­
names, as there are very few choice indorsements offsr- ing has followed largely from the improved re­
ing. So urgent is the demand for paper that brokers sults at New York, where financial transactions
are mak ng telegraphic applications. Some four to are so prominent; and this is natural, for it
five months single names are offered at 3 A per cent, and is in financial circles that the good effects of the elec­
transactions in New York papor have been made at 4 tion have been most immediate and most marked. The
per cent for four months single names. Tnis plethora clearings at this point record 3'6 percent gain; out­
of money is apparently still on the increase. Oar re­ side of New York the total shows a loss of 10£ per cent,
ports show that the movement of currency to this as will appear by the following.
M ON THLY C l E 4 BINGS.
centre from the West and S mth continues, so that
the return of the Clearing House banks which
C lear in o s O u tsid e N e w Y o r k .
C lea r ln js, l e t i l A ll.
M on th .
will be made public to day ought to show a fur­
1895.
P .C t.
1895.
P .C t
1896.
1890.
ther increase in cash and deposits. The bank
*
$
*
f
statement last Saturday recorded a gain in loans J a n u a r y . . . 4,609,107.499 4.402,008.909 +4*7 2.040.753,791 2,007,996,494 + 1 -9
4,101.712,407 3,407,002,173 + 2 0 4 1,728,720,777; 1,543,220,947 +12*0
compared with November 7 of #21,638,500, in deposits F e b r u a r y 4,128.070,234
4,034,435,895 4-2*3 1,811.813,000 1,793,694,879 + 1 -0
M a rc h ..
of #52,196,700, in specie of #12,910,400 and in legal
l a t q u a r .. 12.838.950,100 11,844,766.977 + 8 4 5,587,288,108 6.344,912.320 +4*5
tenders of %16,740,000. At the New York Sub- A p r i l...,
0*8 1,895,896,042! 1.882,116.371 +0*7
4,288,851,907 4,255,595.350
4.2*0,515.724 4,858,278.208 - 1 3 0 1,888,423,9311 2.024,431,5eS -0 * 8
Treasury gold continues to be exchanged in moderate M a y - .......... 4,293,121,197
-2*3
1,878,710,468} 1,915,365,305 - 1 * 8
4,390,191,417
J u n e ....
amounts for legal tenders, about #750,000 having bsen 2d q u a r .. 12JJO-.491.88" 13,510,067.975 -5 * 2 5.000,561,031 [ 6,821,903,804 - 2 - 8
■o turned over this week. The net gold in the Treasury,
6 m o n th s . 25,647.412.048 26,861,834.952 +1*2 11,247,849.199! 11.160,815,624 +0*7
which last Friday wai reported a: #189,858,185, wis J u l y ........ 4.303,734.408 1.502,547,644 -4 * 4 1,853,344,718 2,035,280,148 —7*6
4,138,315,710 -14*2 1,680.^90,199] 1,821,502,072 -1 3 * 3
jesterda' (Friday) officially reported at #132,378,785. Ad aupgtou stut.b e r. 8,551.552.803
3,701,800,067 4,175,216,606 -1 1 * 3 1,638,825,He 1 1,802,235,490 -9 * 1
Mr. Stephen L ttle’s report of his examination of the 3 d q u a r . .. H ,O 17,U *,708 12,876,078,805 —9 8 5,102,580,781 5,059,018,310 - 9 * 8
books tnd accounts of the Baltimore & Ohio Railroad 0 m o n th s 37,264.588,816 38,230,913,817 -2 * 5 10,350.409,980 10,825.833,940 - 2 * 3
2,303.173.810 -1 4 * 0
was issued yesterday in prin'ed form. It is a very O c t o b e r . .. 1,594,555.715 5,230,792,570 —12*3 11,980,739,131
920,610,048 2,145 O*1? 453 -1 0 ‘S
N o v e m b e r . 1.007.450,592 4.739,t93,7<>0 -2*8
voluminous document and there is not time enough
In the New England section the decriase from last
left this week to give it that careful examination and
year
is 2'4 per cent, in the Middle Western 13-2 per
study which it demands and without which an opinion
cent,|in
the Fur Western 11-7 per c<nt, in the South 8-8
regarding it would possees little value. So we shall
per
cent
and on the Pacific Coast 5*8 ptr cent. Below
have to defer analysis of it until next week. One fact,
however, we may note here, namely that Mr. Little in we give a four-year comparison of the clearings at the
spcakiDg with regard to the auxiliary lines states that leading cities.
B A S K O LEAK IN GS AT L E A D IN G C IT IE S .
the B*1 imore A Ohio Southwestern has demonstrated
- J a n u a ry 1 to Nov. 3 0 .-----November.its ability to take care of itself. Of course there is OOO.OOO#
1896. 1895, 1894. 1893. 1896. 1895. 1894. 1893.
$
$
$
*
$
nothing new in that remark. Its significance lies in om itted.)
$
$
$
S e w Y ork ,.. 2.687 2,593 2,241 2,257 26,215 26,932 22,052 29,046
the fact that this is his opinion after a critical examina Chicago......
392
371 4,019 4,196 3,929 4.306
408
357
373 4,076 4,335 3,762 4.210
425
375
424
B.**tKra..........
tion of the company’s books, at d that it is accompanied Philadelphia
253 2,891 3.224 2,756 3,140
267
321
257
96 1,046 1,135 1,024 1,038
99
108
98
b ou ts. . . .
by the general statement made with reference to this, 8t.
646
603
629
622
56
58
66
62
8 an Fran co.
649
615
633
656
55
58
58
60
ore...
as to the other affiliated roads, that “ the peculiar PBaltim
615
598
678
684
50
56
67
55
ltisb u rg.. .
587
5*6
596
532
51
56
55
48
methods of finance and accounting developed in Cincinnati...
436
438
474
454
44
38
47
43
Kansas City.
382
443
430
414
51
46
54
45
the case of the Baltimore & Ohio company have N«w Orleans
308
204
224
213
20
21
22
20
Milwaukee..
297
283
237
253
25
25
27
23
no place in these.” We make particular m n- L ouisville...
179
203
200
201
18
18
21
18
Ruflalo.........
299
263
295
273
24
26
28
tion of the Baltimore & Ohio Southwestern Detroit . . .
304
331
280
35
L
33
35
45
42
Minneapolis.
274
222
172
193
20
21
18
because that company had its annual meeting last Omaha.........
267
221
255
232
21
23
27
Providence..
222
248
271
274
19
23
week, at which the third yearly report was submitted, C
28
leveland...
174
125
126
110
10
11
12
D e n v e r ......
1
91
165
199
209
17
and we publish President Bacon’s remarks contained 8t. Paul.......
19
24
20
38,909
47,681
13,922 •4 5,623
in the same on another page of this issue to-day.
4,352 4,457 3,914 3.858 ■
2,457 2,41 >
Conditions were decidedly unfavorable during the Other oltlea.. 255 282 265 233 2.545 2,584
50,091
41,366
48,207
twelve months covered by the report, and net Total a ll... 4,607 4,739 4,179 4,091 46,457
21,275 19,314 21,048
Oatslde N.Y. 1,920 2,146 1,938 1,834 20,252
earnings were #135,861 smaller than in the twelve
On the Stock Exchange, business, stimulated by the
months preceding, but nevertheless the company
election, was more active than in any previous month
ear red all its obligatory fixed charges and
of the year, and yet the aggregate of the sales was less
at the same time was able to carry forward a surplus of
than six million shares. The sales of railroad bonds
#63.889. Mr. Bacon says that the result for this fiscal
(as reported in our Quotation Supplement ) were also
year justifies the belief that when business revives the

THE CHRONICLE.

986

the largest of any month of the year, reaching a little
over 46 million dollers. This is a fair total, but there
have been months in other years when the aggregate
was considerably larger. Probably if prices had not
weakened the latter part of the month, the transac­
tions both in bondB and stocks would have recorded
very much heavier totals.
8 A.LBS O P ST'V JK S VT T R 1? N S V

FO R K 8 TOOK

1895.

1896.
Month.

X umber
of Shares.

Jan .. 4,535,612
5,203.098
Feb
M arch. 4,586,579

Values.
P a r.
$
417,301,550
492,013,700
386,926,000

1st qr 14,325,289 1,296,841,250
A pril...
M ay....
J u n e ...

4,058,611
2,799,613
4,370,765

372,055,175
263,702.533
417,371,550

A ctu al.

N um ber
of Shares.

?
250,415,665 3,243,905
306,289,139 3,024,032
252,465.667 5,128,539

Values.
A ctu a l.

P ar.
*
318,422.500
300,314,750
499,445,800

S
192,086,084
186,106.308
301,268,171

809,200,473 11,396,476 1,118,183,050

680,010,536

256,369,075 5,036,710
188.033,302 8,932.707
295,650,013 6,030,415

271,711,290
463,888,575
318,070,724

482,469,355
859,162,950
579,442,850

2d qr. 11.228,992 1,053,12.4,258 740,082,39 19,999,832 1,921,074,155 1.054,270.589
6 m os.. 25,554,281 2,349,970,508 1,549,282,861 31,396,308 3,039,257,205 1.734,281.152
J u ly .... 5,555,9S1 527,594,250 354,381,282 5,849,466 561,238,250 342,847,860
A ugust 4.267,813 412,907,675 268,716,029 5,209,019 490,170,700 337,335,231
S e p t.... 4,574.206 431,796,550 274,215,306 0,823,840 628,792,500 310,601,277
3d qr. 14,398.000 1.372.358,475 897,315,677 17.942,325 1,680,201,450 990,784,308
9 m os. 39,952,281 3.722,329,183 2.446,598,538 49.338,033 4,719,458,855 2.725,065.520
O c t .... 4,931,438 456,713,350 312,921,847 5,250,675 492,830,800 302,070.210
N o v .... 5.S9V298 564.269.050 330.1i'4.58l 5.049,900 465,003,400 294.4*14,024

That the Pennsylvania Bailroad in i fs October re­
turns should show another very large loss in earnings
was of course expected, and therefore occasions no
surprise. October was the month just preceding the
election when general trade was unusually depressed.
In the iron and steel trades, the traffic from
which plays such an important part in the busi­
ness of the Pennsylvania Kailroad, things were at
their lowest ebb. On October 1 1896 only 130 iron
furnaces were in blast in the whole country, against
232 on October 1 1895, and the weekly capacity was
but 112,182 tons against 201,414 tons, which neces­
sarily meant a great contraction in the volume of traffic
in coal, ore, etc. Taking all lines eaBt of Pittsburg
andJErie (whether controlled or operated), the decrease
from last year in October is $877,300 in gross and
$347,300 in n e t; on the lines west of Pittsburg
and Erie the decrease is $972,500 in gross and
$582,000 in net. Altogether, therefore, for the
whole system earnings have fallen o2 $1,849,800
in gross and $929,300 in net— which gives one an idea
of the magnitude and intensity of the depression in
trade which then prevailed. Last year in October on
the lines directly operated both east and west of Pitts­
burg there was a gain of $840,326 in gross and of
$378,928 in net, and this followed-gains in the years
preceding, too. The following is a comparison for six
years on the lines directly operated east of Pittsburg,
the only part of the system for which we can make
such a comparison.
L ik e s e a s t i, f
P it t s b u r g .

1896.

1895.

.

1391.

1393.

1892.

1891.

October.
1
f
4
t
*
*
Gross earnings....... 5,598,878 6.203,278 5,839,993 5,480,275 0,290,883 0,408,160
O perat'g ex p en ses. 3,539,276 1,002,278 3,042.832 3,636,750 1,221,769 3,933,599
N et e a r n in g s... 2,057,600 2 ,» U tC00 2,197,186 1,843,525 2,069,114 2,474,7(1
J a n . l to Oct. 31.
Gross earnings....... 51,657,948 53.109,918 48,031,639 55,784,226 56,889,037 55,935,283
Operat'g exp en ses. 86,888,735 37,135,-35 33,201,304 39,817,035 40,291,933 87,979,471
N et e a r n in g s ... 14,769.213 15,974.113 14.883.335 15.967.191 16,597,701 17,955,814

With reference to the other roads which have this
week furnished exhibits for the month of October,
the same remark applies as in the case of the Penn­
sylvania—the poor results are due to the great depres­
sion in trade. The following furnishes a four-year
comparison for a number of these roads.

N am e of R o a d —
A tch ison Top. & Santa*Fe.. Gross
N et
Buflalo R och. & P itts. .. ..G ross
N et
Canadian P a cific...............
N et
C hesapeake & O h io..........
Net
C hicago B url. & Quincy*. ...G rosB
Net
Chicago Mil. & St. P a u l..
N et
D enver & R io G rand e.. . ...G r o ss
Net
G eorgia..................................
Net
Iow a C en tral.......................
Net
K an. City F t. S co tt & Mem Gross
Net
L o u isv ille & N a sh v ille ...
N et
M exican C en tral...............
Net
M exican In te rn a tio n a l...
N et
M exican N a tio n a l..............
N et
M inneapolis & St. L o u is...
N et
P h ila d e’phia & R ea d in g ..
N et
Coal & Iron Co................
N et
R io Grande S o u th er n ... . ..G ross
N et
Rio Grande W estern .........
N et
St. L ouis & San Fran..........
N et
3an. A n t. & A rans. P a ss. ..G ross
N et
w a b a sh ..................................
N et
W estern N. Y. & Pa..........
N et

[V

1890.
4
9,053,052
1,186,342
343.310
118,915
2,121,650
939,641
892,510
311,100
3,173,809
1,888.492
3,480.111
1.610,490
722,225
318,105
178.959
63,675
103,981
59 012
444X65
154,808
1.962X49
746,092
9(8.326
279,713
228,195
81,148
490,220
237.891
227,193
113.813
2.060.106
1 122.707
2.767.852
261.817
39.141
2O.107
233.64 7
91,150
574,043
265,658
255,535
116,404
1,094,109
375.533
313.453
129,823

ol.

l x iii

— October Earnings.—
1895.
1894.
*
3,030,182
3,154.318
981,919
1,128.768
237,687
284.774
30,945
105.8*83
2.291,867
2,190.908
1,109.647
1,010,248
906.915
870.882
309,529
302,603
3.323.512
3,669.158
IX 73.7 J2
1.690.208
3.851,862
2.900.874
1.107,911
1,237,957
779.C60
726.757
363.310
337.995
174,453
159,384
80.186
78 293
158,867
198.910
85,024
6d,090
456,449
455,360
154,388
149,520
1.979,600
1.865.196
750,552
775,469
930,100
708.744
421,510
350,585
253,163
191.410
108,364
70.883
424,338
406.872
211 458
190.618
245.797
220.205
123,339
119,193
2,274,261
2,001,792
1,2«3,484
933,804
2.485,087
3,350,686
40.521 def.46,062
49.535
40.759
28.8eo
24,502
255,511
239,180
120,767
101,228
049.221
63^.557
290,130
318.014
229,890
240.258
106.173
114,809
1.315.733
1,173X03
443.055
356,038
314,169
323,361
110,160
82,406

1

.

1893.
*
3,426,764
1,410,843
286,183
88,890
2,164,821
946.426
831,422
310,051
4,120,772
1,939,722
3,922,658
1,891,343
608.429
324,774
107,995
94,346
201.300
93.310
480.266
181,297
1,040,562
696 204
720,991
335,224
168,918
78,256
349,576
152,003
201.745
103.843
2.127.430
1,063,161
2.923,622
370,940
30,457
10,710
226,950
97,288
660.992
313.936
235,033
111.476
1,402,703
419.308
297,635
105,154

* Includes Chicago B u rlington & N orthern for all t h e years.

Money on call, representing bankers’ balances, ha3
this week loaned in small amounts at 3 and at 1 per
cent, with the bulk of the business at 2 to 2£, and the
average has been about 2£ per cent. Banks and trust
companies quote 2 per cent as the minimum. Loans
upon long sterling as collateral have been made at 2£
per cent for sixty days. The offerings of money on
good Stock Exchange security have been liberal and
the lenders are seeking borrowers, and they are willing
to make concessions as to rates when a choice grade of
collateral is presented. Bates on ordinary security are
3 per cent for thirty to sixty days, 3) per cent for
ninety days to four months and 4 per cent for five
to seven months. The supply of commercial paper is
so small that only a little business is done and some
Irokers report the market quite bare of endorsements.
We hear of transactions in very choice four to five
months’ single name paper at
per cent. Quotations
are 34@4 per cent for sixty to ninety-day endorsed bills
receivable, 4@5 for first-class and 5@6 per cent for
good four to six months single names.
There are few features of interest in the European
financial situation. The cable announces that the
French Government has decided to accept the principle
of the renewal of the charter of the Bank of France for
twenty-four years. A Milan cable states that the
Luraghierra Company, bankers of Como, have sus­
pended, and this was followed by the closing of the
Bank of Como. The Court of Appeals at Alexandria
having decided that the funds of the Caisse of the
Egyptian debt should not have been used for war
expenses and that the Egyptian Government must re­
pay the £500,000 advanced, the English agent at
Cairo has notified the Egyptian authorities that the
British Government is prepared to advance such
sum of money as the Egyptian Treasury is unable
to provide.
The Bank of England minimum
rate of discount remains unchanged at 4 per
cent. The cable reports discounts of sixty to ninetyday bank bills in London 3@3^ per cent. The open
1 mirket rate at Paris is 1$ per cent and at Berlin and

D

ecsm beb

5 , 1896 , ]

THE CHROINLCLE.

Frankfort is is
per cent. According to oar special
cable from London the Bank of England lost £469,340
bullion during the week and held £35,581,503 at the
close of the week. Oar correspondent farther advises
ii3 that the loss was due to the export of £100,000 to
Egypt, to shipments to the interior of Great Britain of
£380,000 net, and to the import of £11,000 from
Portugal.
The foreign exchange market ha3 been a little irreg­
ular this week, influenced by easier discounts in Lcndon. i’ne demand for long sterling for investment
has been less urgent, as the advance in the rates for
bills has lessened the prospective profits resulting
from holding the bills until they run to short. The
range for posted rates on Monday wasfrom 4 84 to 4 844
for sixty-day and from 4 874 to 4 88 for sight. The
marker was strong, and rates for actual business, com
pared with the close of Friday of last week, were onequarter of a cent higher, at 4 83}@i 83} for long,
4SGt@4 87 for short and 4. 87}@i 87} for cable
transfers. Tne range on the following day was from
4 84 to 4 814 for sixty-day and from 4 87} to 4 88 for
sight, and the tone was irregular, long sterling
being firm and short sterling and cable transfers
easy in consequence of lower discoun ts in London,
lutes for actual business were ouo-quartar of a csnt
higher for long at 4 8'3;3s4 8 t; those for short ware
unchanged and those for cable transfers were oneicarter of a cent lower at 4 87@4 87}. There was no
change in the range for posted figrres oa Wednesday,
but tae market was easier, i>nag affected by a lighter
demand for long sterling for investment. R ite 3 for
actmu business were one -quarter of a cant lower all
around at 4 83} @4 83} for long, 4 86}@4 86| for short
and 4 tbif @1 87 for cable transfers. Oa Thursday there
was no change in postal rates bat the tone of the
market was a little firmer. Rates for actual business
-yere one -quarter of a cent higher for long stapling and
cable transfers, at 4 83:i @ 4 84 for the former and
4 87@4 87- for the latter, while those for short were
unchanged. Friday the market wa3 dull and easy,
with no change in actual rates, and with the posted
rates 4 811 for 00 day and 4 87}@1 88 for Bight.
D A If-T PO STED B A TES FO R FO SEIO IC BX O IIA SO K .
fm ,,

f?

8*?1o*r,
Mmonn MCo.
0m

Cmmsk-tmn Hunk

Cotamere©.

Held*1infests, Ick

oiUmm&r h Ob 1j Sg ot e'lnaty, .s, ,.
Ff&tm,. f1l40i g dh at y. .#. .,
MmzhmmWBfe. j go d a y * .

S*
m i
m

T om ,

84
87*
84

f»!i

W e d ..
D u . 2.

T H U R .,
D u . 3,

87 *

f t

81*
87*

804
m

85*
it*

HH

H 4
m

81*

84

§4

S7H
83*4

84
87*
84
87*

Si

#7
84*
87*

*7*4
H
87%

S iH

m i

84M
87*
84 *
87*
**M
B7M

b «m
w *
SIM
STM

m

« s r

a#
8“

m

11

f t o i r a Broth*. •* I 0 0 ' U f n .
\ S if f b i* ..
1 884*1*9.
{ S iith t- .,
( m daps*
Bmk Britten
t s§4f £»£„..
Bmak of
1 4 # flay*,,
M o ntrentl . . . . . \ S i g h t — ,
days.
I S ig h t—
of

Mow*.

N ow . 30. D u . I .

it*
S i*
87*
84
87*

S3

F a r .,
D ec. L

81*
87*
8»*
88
84*
87 >*
8 i*
87*
84 *
87*
P i*
87*
84*
87*

ft
of
.. I S i g h t s , .
ft
ft
The market closed dull and easy on Friday at 4 84}
for sixty day and 4 871@4 88 for sight. Rates for actual
business were 4 83}@4 84 for long, 4 86}@4 86} for
3hort and 4 8?@4 87} for cable transfers.
Prime
Commercial bills were 4 8-3}@4 83} and documentary
4 82}@4 82}.
Tae following statement gives the week's movements
of money to and from the interior by the New York
banks.
8?K
8*
87*

s ite
84 H
STH

RmMmBby I HMmti by Net Interior
*
JUT. Y. B-ink*. Movement,
$7,827,000 $4,834,000 Gala.$2,823,000
-m m ......................
902,000 :! 38.000 Gaia. 591.0OO
.. T'dtat goM*21$I'sataJtender*,,... B8.MIM.TO *8.112 ^ Gain *3 417.0.10
w«* ending Dti. 4, 180D.

N. Y

987

With the Sub-Treasury operations the result is as
follows.
4 1898.

W eek E n d i n g D ec. ,

In to
B a n k s.

O ut o f
B a n k s.

N e t C hange i n
B a n k H o ld in g s .

$ 8, 529,000 $ 5, 112,000b a i n . $ 3, 417,00 0
14, 500,000 13, 300, 000.G a in . 1, 300,000
T o ta l g o ld a n d le g a l t e n d e r s ....... $ 23, 029,000 $ 1 8 ,3 1 2 ,0 0 0 G a in .$ 4 ,7 1 7 ,0 0 0
Amount of bullion in principal European banks.

B a n k s’ in te r io r m o v e m e n t, a s a b o v e
o p e r a tio n s ............

Sa b -T r e a s n ry

Dec. 3, 1896.

Bank of

Gold.
£

[ S ilv e r .
£

35.581,508 ............
77,859,202 49,352,427
G erm any....... 2® «9,S;H 'l4,S»4 680
A.nst.'Himg’y 30,643,000 !xa, 593,000
8,528,000'10,310,000
N eth erlan d s. 2.834.000 8,774,000
Nat, Belgium. 2.850.000 1,325,000

D ec. 5,1895.
T o ta l.

G oU .

S ilv e r .

T o ta l.

£

£
44,338,765

£

£

"

35,5S1,508
44,338,765
126,611.629 78,894,587 49,344,144 128,238,681
42.884.000 30,193.379 14,750,621 44.944.000
43.243.000 23,465,000 12.813.000 36.278.000
18.865.000
8.004.000 10.800.000 18.804.000
9.408.000
3.722.000 6,819,000 10.541.000
3.975.000
2,740,637 1,370,333 4,111,000

Tet.fchl* week 185,S87.044191.084.093,280,571,137 191,353,345 95,897,098 287,255,44 6
Tot. p rev. w * k 186,789,044 94,423,278 281,212,323 189,455.485, 96,106,474 235,561,989

THE

I N D [A N A P O L 1 S

M O VEM ENT.

The conference of commercial organizations of the
the Central Western cities which assembled Tuesday
last in Indjanapolis to consider practically the future
of the currency, and which has called a formal con­
vention to meet on .January 12, is a very encouraging
incident of the times. As a sequel to the election of
November 3 nothing could be more appropriate and
logical than a gathering of precisely this description.
The victory at the polls last month was a victory, first
of all, of sober-minded business men; the Chambers of
Commerce and the Boards of Trade in our large com­
mercial cities officially represent this class in the com muuity. Farther than this, the large electoral major­
ity of last month was won in the Central Western
States; it is therefore peculiarly appropriate that such
a movement should begin under the auspices of the
business men of that section of the country.
This project originated with the Indianapolis Board
of Trade, and the delegates present at the opening of
this week's conference represented the organized com­
mercial bodies of Chicago, Cincinnati, Cleveland,
Columbus, Das Moines, Detroit, Grand Rtpids, In ­
dianapolis, Milwaukee, Minneapolis, Omaha and Peo­
ria. The recent sound-money vote at these cities was
sufficient witness to the earnestness with which intel­
ligent classes at those centres had done their work
daring the campaign. They certainly have a right to
speak now on the question, what use shall ba made of
the victory. It was, too, peculiarly fitting that the
start should have been at Indianapolis, and its selection
a3 the headquarters for the organization was an inter­
esting tribute to the service rendered to public honesty
and sound finance by this year’s other convention in
that city. If it should come to pass that the success­
ful movement to save the country, through an inde­
pendent vote, from the disaster of repudiation, and
the further successful movement through which the
currency question was afterwards removed from the
field of political controversy, had both been initiated
in the same year and in th e same place, Indianapolis
would be associated in a very striking and agreeb.e
way with the country s history.
In any movement of this kind, much necessarily de­
pends on the spirit which animates the whole deliber­
ations of the convention, and on the character of the
recommendations which result from them. We era
see no reason, however, why a formal convention of
commercial bodies, such as ha3 been proposed at this
week’s Indianapolis conference, should not exercise

988

THE CHRONICLE.

a very great public influence. It is, we know, somewhat
the fashion among politicians to belittle the practical
value of such non-political deliberations. This feeling
has arisen partly from the fact that many appeals and
memorials of commercial bodies to Congress in the past
have been politically unpractical. Tne present ques
tion, however, is not only involved directly in the
results of the late campaign, but it is a question which,
if ignored, will force itself on legislative attention
through the simple pressure of events. As the chair­
man of the conference observed in his opening speech
of Tuesday: “ The time has now arrived when the
Government must either discontinue the banking busi­
ness, with its expensive and complicated system, or go
into it on a broader, better defined and more compre­
hensive scale.” We do not see how any intelligent
observer of our recent financial history, whatever his
personal view as to the method of reform, can dispute
this statement.
The influence of memorials on public questions by
commercial bodies has sometimes been handicapped
again through the fact that the organizations concerned
have, in the public view, been interested parties. We
believe this to have been an inevitable point of weak,
ness in the*- recent movement for what was called the
Baltimore banking plan. The currency proposition
drawn up at Baltimore in October, 1894, though not
perfect and not claimed to be, was the most rational
and intelligible scheme submitted on the question in
our time. It was the disinterested proposition of peo­
ple peculiarly well qualified to deal with the question.
Yet the simple fact that it was a plan for a bank cur­
rency, submitted by a convention of bank officials,
robbed the Baltimore plan of half its authority in the
public mind. To a proposition, whether general or
special in its character, advanced by a convention of
business men engaged in all branches of industry—and
this is what a Chamber of Commerce everywhere rep­
resents—no such objection can be raised.
The third and perhaps the most important reason
why action by such non-political bodies has in the past
been frequently ignored is the feeling among pro­
fessional politicians that the business man, if his ideas
are not palatable to the time-serving legislator, may
safely be got rid of by a few polite words and by the
pigeon-holeing of his proposition among the official
documents of Congress. If the business man resented
such ignoring of his opinions, his resentment, it has
usually been found, was not at all dangerous. At the
next election his vote, and the vote of his associates,
could equally be counted upon by the party which had
always previously received it. But in this regard we
suspect that politicians have learned a lesson since last
July’s Convention at Chicago. Readers of the Chkokicle are familiar with the unprecedented reversal of
majorities last month at every Democratic strong
hold where conservative business sentiment was con­
centrated.
We may be very sure that practical politicians have
not overlooked these items in the electoral returns.
The “ business vote” is a factor which will be reckoned
with hereafter; quite as consistently, we venture to
predict, as the “ labor vote,” the “ liquor vote” and
the “ farmer vote,” which in one or another section of
the country have been supposed to dominate political
calculations. The business vote has the decided ad
vantage over most other groups of citizens in that it is
confined to no locality or section, but covers the entire
»nion. This fact and the unanimity of feeling on the

[V ol . LXIII,

principles at issue were sufficiently demonstrated on
November 3. If the Indianapolis conference served
no other purpose, it would have the highest possible
value in consolidating into a representative organiza­
tion the sentiment which, unorganized and unseen,
made so formidable a showing last month at the polls.
The truth of the matter is, this country has long
made itself ridiculous in the eyes of the world at
large by the ignoring of business men’s opinion on this
vital question of the currency and by the seeming ac­
quiescence of the business men in such a policy. It
is impossible to conceive of radical action on the cur­
rency by the German Reichstag, the French Chamber
of Deputies or the British Parliament without the
most thorough and careful examination of the judg­
ment of commercial bodies. A conference such as
that of Indianapolis would be unusual in England,
France or Germany, simply because the very first act
of legislators would be to invite the representives of
business interests to formal consultation. We do not
for a moment contend that all the practical wisdom on
this question is confined to the merchants and bankers
of the cities.
Neither do we affirm that the most
carefully chosen body of business men could contrive
off hand, in a shape beyond debate or criticism,,
the ideal plan of currency reform. But we
have no hesitation in saying that
such a
body is infinitely better qualified to master the
problems of the currency than a political gathering
where indorsement of any proposition depends on the
votes of minority party delegates from the sparsely
settled Southern States, or another national conven­
tion whose ideas and convictions are shaped and swept
tumultuously along by the oratory of a young political
agitator.
Here in New York City we have witnessed some
exceedingly practical results from the intervention o f
an organized body of commercial men in politics. The
“ Chamber'of Commerce movement” for the regenera­
tion of New York City’s Government was at first rid­
iculed by the dominant local politicians of 1894, then
angrily denounced as a piece of- impertinent meddlingThe anger has probably not subsided yet, but the con­
tempt has not been heard of lately. Tne reformadministration of New York City, its clean streets, its
reorganized police, and its progress in all directions
toward civilized municipal government, may be traced
very directly back to a certain Chamber of Commerce
meeting two years and a-half ago.
What has been
done for New York City can be at least partly done
on a larger scale for the country as a whole.

THE

N E W N O R T H E R N PACIFIC
MORTGAGES.

On Monday of this week the Reorganization Mana­
gers of the Northern Pacific began the distribution of
the securities of the new company. The event is im­
portant because, besides substituting interest-paying
obligations for a great mass of bonds in default, it also
serves formally to intro luce to the public the new
company with its new management, its greatly les­
sened charges, and its mortgages, containing, as it
would seem, extremely well devised safeguards for the
protection of the bondholder.
Very complete abstracts of the mortgages are given on
pages 1012 to 1019 and in the present article we shall
confine ourselves entirely to two thoughts: (1) The
restrictions placed on the right to issue bonds, and (2)
the nature, source and purpose of the so-called “ net

D kcembeb 5, 1896.]

THE CHRONICLE.

989

-moneys” and “ cash fund,” which are entirely new as
The Consolidated Mortgage provided chat bonds to
■well as interesting and important provisions. la pass­ the amount of $9,000,000 “ may bs used by the Railroad
ing, we may allude to the fact that in both mortgages Company for any lawful purpose which the Board of
the right to remove the trustee is reserved to a certain Directors by resolution may determine,” no further
percentage in interest of the bondholders. To us stipulation being made. The nearest thing to this
this seems a wise provision. The Prior Lien Mortgage provision in the Prior Lien Mortgage is the really
secures not to exceed 1130,000,000 of 4 per cent bonds dissimilar provision that prior to Jan. 1 1898 $3,000,000
due 1997. The General Lien Mortgage is for the bonds [of the $25,000,000 reserved for extensions, im ­
authorized amount of 1190,000,000 in three per cent provements, etc.] may be delivered to the company
bonds, of which 130 millions can be issued only to upon resolution of the Board of Directors for (1) the
retire the Prior Lien bonds, if at any time thought creation of an insurance fund, or (2) a reserve fund
advisable.
for any special improvement upon cue property, or (3)
While the restrictions placed upon the company’s “ any other necessary purpose.” B it the coinotuy must
•right to issue bonds are in many respects similar to in each case specify the particular purp ises.for which
those laid down in the new mortgages of the Atchison the bonds are to be used, and also from time to time
and the Erie, the importance of such restrictions is on request of the Trustee must furnish a cirtifioate
made very apparent when we recall the wide latitude signed by the Chairman of the Board of Directors, or
allowed under the provisions of the old Northern Pacific the President, and by the Treasurer or Comptroller of
consolidated mortgage of 1889 and the disastrous con­ the Company, specifying the purposes for which said
sequences entailed thereby. In the first place there is bonds have been issued.
a radical difference with regard to the authority to issue
Ia the old Consol. Mortgage $20,000,009 was reserved
bonds upon the retirement, from time to time, of old for additional roads and extensions, while still another
bonds in the hands of the public. In both cases, as is $20,000,000 it wa3 provided should be used for “ ad­
usual, sufficient of the new loan is reserved to tike up ditional terminals, rolling stock, betterments and re­
at or before maturity the underlying bonds.
B it newals, add other purposes not properly chargable to
whereas under the consolidated mortgage the company operating expenses.” No restriction was placed upon
was entitled to receive and apply, as it pleased, an the amount of these bonds to be issued in any one
amount of the coasols equal to the amount of the old year, and as regards those held for extensions it was
bordsin whativer inaaner retired, the provisions of simply provided that the bonds were to be certified
tae new Prior Liea Mortgage are far more stringent. If “ at the rate of not exceeding $30,000 a mile, as the
any f the general first mortgage bonds are retired by the work is completed in sections of 5 miles each, upon the
act on of the sinking fund, or with the proceeds of sale certificate of the President and Chief Engineer of the
of land from the land grant (of which about 34, 400,- comnany specifying the completion of such section,”
000 acres remain unsold, the sales in ordinary times and “ upon resolution of the Board of Directors of
producing a large revenue), then the Prior Lien bonds the railroad reciting the purposes for which said bonds
reserved against the bonds redeemed cannot be used at are issued.” In the case of the other $20,000,000 of
the company’s discretion, but must be employed solely bonds the trustee could certify them upon resolution
in the manner prescribed in the mortgage for the re­ of the Bnard of Directors aad “ upon a certificate of
demption of bonds and the improvement of the prop­ the President and Chief Engineer, showing that an
erty, as will presently appear from onr remarks on the amount of money equal to the amount of bonds to be
certified has been, or is to be, expended for the pur­
■
“ net moneys” and the “ cash fund.”
So too as to the use of bonds reserved for the pay­ poses recited in said resolution,” or said bonds may
ment if necessary of a premium on the old bonds be certified upon a resolution of the Board of Directors
retired. The consolidated mortgage set apart $10,- “ calling for the issue of bonds for purposes in this
000,000 of bonds, to be used for this parpose whenever article mentioned and specified in said resolution as
"in the opinion of the Board of Directors of the Bail- having been approved by said Board of Directors,
road Company and also of the Trustee, a saving of which resolution shall in itself be sufficient authority
interest to the Railroad Company can be effected to the Trustee to certify said bonds.” The conse­
thereby.” This was all that was necessary in order quences following from allowing a management such
that any premiam desired might bs paid to retire the a wide latitude (and especially a sanguine management
prior bonds outstanding. On the other hand the new like that which was in control of the Northern Pacific
Prior Lien Mortgage limits the amount of Prior Lien at the time) will be seen when we say that in this and
bonds
issuable for refunding, either to equal various other ways no less than 62 millions of consols
amounts, dollar for dollar, or as regards the Gen­ were executed between the making of the mortgage in
eral First Mortgage bonds to $1,300 for each $1,000 1889 and the appointment of receivers in 1893.
The terms of the corresponding articles of the Prior
bond retired in any manner otherwise than by the
sinking fund.
And any saving in the new Lien Mortgage present a striking contrast in this re­
bonds effected by acquiring the General First spect with those of the consols. There are $25,000,000
Mortgage bonds at less than $1,300, it is provided, bonds reserved for extensions, terminal properties, roll­
shall be added to the “ cash fund,” shortly to be ing stock and betterments, but they can be issued only
deecribed. Upon the retirement moreover of any of after Jan. 1 1898 at a rate not exceeding $1,500,000
the General First Mortgage bonds by the sinking fund, per annum, with a single exception as to the $3,000,000
or with the proceeds of land-sales, not only must an bonds issuable prior to that date, as already seated. In
amount of the Prior Lien bonds equal to the General each calendar year after 1897 the $1,500,000 of bonds
“First Mortgage bonds so retired be used, in the manner shall be certified on resolution of the Board of Direc­
stated in the preceding paragraph, for the benefit of tors, and after 1898 in every instance, before delivering
th' “ net moneys” and “ cash fund,” but the whole the bonds, the Trustee must require the Railway Com­
♦1,300 of Prior Lien bonds for each bond redeemed pany to furnish a verified certificate calling for the
most explicit details regarding the use of the bonds
must be so applied.

990

THE CHRONICLE.

and the property acquired, together with statements
that the price paid in the bonds, or their proceeds, was
not in excess of the fair value of the work done or
property acquired, and that the bonds were disposed of
at not less than their fair market value.
It is also provided that the property so acquired in
any one year shall not be subject to indebtedness
aggregating more than $2,000,000, and to take care
of such indebtedness Prior Pien bonds for a like
amount must be set apart from the $1,500,000 bonds
deliverable in that calendar year or in the next tw<?
succeeding years. Thus it is evident that the interests
of the bondholders have been very carefully safe­
guarded. As the bondholder is not a partner in the
enterprise, and has no voice in the election of officers,
it is only reasonable, we think, that he should be pro­
tected as fully as may be from acts of indiscretion on
the part of the managers in these particulars. The
right is reserved to the company in the Prior Lien
Mortgage to obtain additional property to build ex­
tensions if it pleases, with means provided otherwise
than by the new mortgage, which in that event will
have no lien thereon. The company would seem there­
fore to possess in connection with the bonds issuable
under the new deeds of trust all the scope for action in
the way of new acquisitions necessary to its progress
and development.
To turn now to the “ net moneys "and the “ cash
fund,” these are'simply a wise method by which the funds
made available through land sales* and some minor
sources will in future be divided into two parts—one for
the redemption of bonds and the other for additions to
and improvements on the mortgaged property. By the
General First Mortgage all the proceeds of lands must
be applied to the redemption of bonds, but under the
Consolidated Mortgage of 1889 the old company, as
we have seen, had the right to issue consols in place of
the bonds so redeemed and use all the proceeds for any
purpose it pleased. By the terms of the Prior Lien
Mortgage a middle course is followed. The proceeds
of land sales [as soon as they are applicable directly to
this Prior Lien Mortgage], after deducting the expenses
of the land department for taxes, advertising, improve­
ments, etc., are to form a special fund known as the “ net
moneys.” To this fund are also to be added [ while
the land grant remains subject to any General First
Mortgage bonds outstanding] the proceeds of all Prior
Lien bonds sold, as the mortgage permits, against Gen­
eral First Mortgage bonds retired by the sinking fund
or with land sales. Of this combined fund one-half,
but not exceeding $500,000 in any one year, is to be
applied to the purchase of the Prior Lien bonds out­
standing at not over 110, or, if these are unobtainable
at that price, of General Lien 3 per cent bonds at not
exceeding par or in the purchase of securities in
which New York savings banks may invest, the securi­
ties to be held by the Trustee.
To avoid in any such case the awkward necessity of
selling Prior Lien bonds to the public only to apply
the proceeds to the redemption of other Prior Lien
bonds, the company may, if it pleases, sell directly to
the Trustee any Prior Lien bonds held in the treasury,
provided the price is as low as that offered by other
bondholders. If moreover the company should refrain
for one year from selling the Prior Lien bonds rendered
available through the payment (by the sinking fund or
•In the caao o l th e General Lien Mortgage the “ cash fund ” will
eceiv e also the proceeds of the $4,000,000 bonds which may be sold
er Jan. 1, 1897.

[V ol.

ran

with land sales) of General First mortgage bonds, th e
Trustee is required to cancel one-half of the bonds so
available, or so much of the one-half as shall be neces­
sary at par to bring up to $500,000 the amount applied
to the redemption of bonds as above indicated, the
other one-half going to the “ cash fund.”
The “ cash fund” is to receive each year all the re­
mainder of the “ net moneys,” together with certain
other items, as explained in the mortgage, and is to
be used, at a rate not exceeding $500,000 yearly, for
improvements, extensions, etc., upon the railway sys­
tem on terms just as strict as obtain with reference
to the .[issuing of the $25,000,000 bonds reserved for
similar purposes. If, as is expected, the land sales in
the course of a few years reach large proportions, the
company should receive considerable assistance from
this source.

DO ELECTRIC S T R E E T R A I L W A Y S IMPOSE
A N E W S E R V ITU D E I N LAND.
The change of motive power on street railways from
horse traction to electricity, and the extension of the
lines in many instances over country highways to
remote suburbs, has given rise to a number of inter­
esting legal questions, which are being decided one
after another. A little over a year and a-half ago we
had the important decision of the Supreme Court of
Pennsylvania (discussed in the C h r o n ic l e of March
30 1895) on the question of the rights and powers of
electric railways on country highways.
This decision
attracted wide attention at the time, and is generally
regarded as having settled the legal principles that
control in such cases where the laws are the same as in
Pennsylvania.
Towards the close of October the
Supreme Court of Massachusetts in a number o f
related cases rendered an equally important decision
on another point, namely the question whether electric
railways, where built in the streets of a city, impose
under their present form of construction a new servi­
tude in land for which compensation must be made to
the property owners _
Before discussing this Massachusetts decision it will
be well to refer very briefly again to the Pennsylvania
decision, because the two together serve in a general
way to define the entire status and responsibility
of electric railways. The Pennsylvania ruling, as al­
ready stated, was in regard to the position of electricrailways when running over country highways. Tne
Court in effect decided that under Pennsylvania laws
where electric railways extend outside of a city or
borough they lose their character as street roads, while
at the same time they can'assume none o f the functionsand powers vested in steam roads. Judge Wdliams,
who read the opinion of the Court in that decision,
pointed out that the street railways contem­
plated by Pennsylvania statute were intended
for the accommodation of the crowded streets of citiesand for no other purpose, and that the attempt to con­
vert these city conveyances into long lines of trans­
portation, connecting widely separated cities and towns
by electric railways traversing country roads, had not
been anticipated or provided for bp the Pennsylvania
Legislature.
Furthermore that while cities and1
boroughs possessed the necessary po wer to enable them,to authorize the use of their streets by a street railway,
townships were not endowed with municipal authority.
Neither were electric street railways possessed of the.
right of eminent domain.

D kcembeb 5, 1896.J

THE CHRONICLE.

Summarizing the conclusions in this Pennsylvania
ruling, the Court held (1) that in Pennsylvania the
street railway law did not confer any authority to use
country roads for the purpose of coanecting separate
cities and towns, and that where such roads had been
built it had been virtually without authority of law ;
(2) that no property can bo taken for right of way or
other purposes without compensation ; (3) that the
roads had not the right of emineat domiin, and (4)
that not possessing the right of eminent domain they
could not condemn prop3r;y, a id heace it was within
the power of each owner to make his own terms, and the
road must accept those terms or abandon its purpose.
In the Massachusetts decision, just rendered, the
point at issue, as already stated, was a different one.
It was whether in a city, where a street railway had
been properly authorized, and where it was within the
power of the an horities to grant the use of tne street
for street railway purposes, the employment of electric
traction and the erection of poles, wires, etc., imposed
an alditional servitude on the land for which the
abutting property holders could demand compensation
or have the road enj lined from running. The cases
came up before the full bench of the Saprems Court on
bills of equity brought by a number of parties against the
West End Street Railway. The plaintiffs, who were own­
ers of property in Cambridge, sought to have the defend­
ant enjoined from operating its cars by the overhead
single-trolley system through G irden Street and Concord
Avenue, Cambridge, in front of the plaintiff’s prem­
ises. The acts of the West End Company had been
duly authorized by the Cambridge Board of Aldermen
and by the Railroad Commissioners, but the conten­
tion of the plaintiffs was that to use the streets in that
way imposed a new servitude which the Legislature
cannot aathora 1 without providing compensation to
the abnttiog land owners.
The decision was quite fully reported in the “ Boston
Evening Transcript” and the summary below is
based on the report contained in that paper. Much
evidence was submitted concerning the dangerous
character of the current used, the effect on water and
gas pipes, etc. The Court finds from the facts that
the electric railway of the defendant is something inter
mediate between a horse railway and the ordinary steam
road. Tne rails are of somewhat different shapo from
those of steam roads, but they are as heavy or nearly as
heavy. The exposed surface of the rails above the
street does not differ much from that of hors<> car
rails, and offers about the same obstruction to other
forms of travel. The cars usually are longer and heavier
than horse cars, and may be prop died at a much
higher rate of speed. Tney mike more noise in the
street, and usually stop to receive and deliver pissen
gers only at designated points oa the street. Tuev are
as easily controllel as horse cars, but are perhaps
appreciably more dangerous to other vehicles and to
persons using the street than horse cars, because the
momentum is greater, and while horses of themselves
often avoid danger, electricity knowt no fear, and the
only safety is from the care shown by the motor man
or the conductor. Tne Court also refers to the fac-.
that since the introduction of electricity a3 a motive
power the electric ra lwiys have been extended, so that
there are connecting lines many miles long, and that
some of these may be used more or less for the trans
portation of merchandise as well as passengers.
As to the form of the structure on the streets, which
the Court holds to be the fact of prime importance,

991

the evidence showed that cylindrical iron poles have
been set opposite to each other in the sidewalks of the
street at intervals of about 120 feet. Between the
tops of the poles two sets of wires are stretched across
the street, the lower set sustaining the trolley wire, the
upper set two guard wires; and these cross wires and
guard wires are strengthened by stay wires and anchor
wires extending from the wires to the poles. Then
there are feed wires attached to the poles and return
wires buried in the street, and the rails are connected
with each other by wires, and are also connected with
the return wires.
The Court decides that an electric railway built as
this one is creates no new servitude in land. The
statutes of the Commonwealth make no provision for
damages to abutters in compensation for what injury
they may sustain by reason of the construction of an
electric railway. The test whether the land under a
street is subjected to a new use by the operation of
new forms of transportation of persons or things is un­
doubtedly, says the Court, in some respects a question
of degree, but the solution of it does not depend so
much upon the kind of power used as upon the struc­
tures which are required and the change in occupation
and use of the street occasioned by the new mode of
transportation.
While it has been held elsewhere,
the Court points out, that elevated railroads on perma­
nent elevated iron and steel structures are a new use
which entitles the land owners to compensation in
damages, horse railways on the surface of the
street, which do not prevent the use of the streets by
ordinary travellers, have been held in Massachusetts
not to constitute a new use which requires compensa­
tion. Says the Court: “ Electric railways, such as
are shown in the present cases, are undoubtedly an
approach in construction and in manner cf operation
to the steam railroad, but so long as the companies are
authorized to use the streets only in common with
other travellers, and their structures do not prevent
other travellers from using them in the ordinary way,
and do not furnish any greater obstruction to light
and air than appears in the present cases, this use does
not seem to us to constitute a new taking of land or of
easements in land for which compensation must be
made.” Tne bills of complaint were accordingly dis­
missed.
Tne foregoing of course merely lays dowa the prin­
ciples which govern in Massachusetts, but the presump­
tion is that the courts in other States would in similar
circumstances take the same view of the matter.
It should not escape notice that the opinion of the
Court is expressed in very guarded language, and does
not sustain the inference that there is no limit upon
the use the electric railways may make of the streets.

RUSSIA’S G REAT A S IA TIC R A ILW A Y.
Among the noteworthy undertakings of the closing
years of the Nineteenth'Century a very prominent place
must be assigned to the great railway which Russia is
building across her Asiatic possessions.
Whether
viewed from the standpoint of the advantages which
it offers as a military project, or as a scheme for devel­
oping the Czar’s dominions in Siberia, or as an eco­
nomic enterprise involving the expenditure of vast
sums of money, or a3 an element bearing upon Russia’s
future position as a contributor to the world’s supplies
of food, in any case the undertaking attracts attention
by reason of its magnitude and importance.

992

THE CHRONICLE.

[V ol. L x m .

diate model studied by those who planued tho road
wa3, it is stated, the Canadian Pacific. The total
estimated cost of the line is 350,210,090 roubles, or
$270,362,000 (about $57,615 per mile), calculating the
Russian rouble at 77'2 cents.
The “ News” points out there is considerable miscon­
ception regarding the possibilities of industrial devel­
opment presented by the country traversed by the line,
Because vast areas of Siberia are undeveloped and un ■
inhabited, and because other vast areas have a climate
of almost arctic severity, it is frequently assumed that
Siberia as a country is a bleak, desolate regioa almost
incapable of inhabitation and development. Tnis is
not true, the “ News” avers, as even a very cursory study
of the climate, soil, mineral resources and flora
and fauna of the country will show. An enor­
mous area of the country lies iD mean geo­
graphical latitudes, and within this area are
included the meadow lands, or steppss, renowned for
their fertility, and already competing with America in
supplying wheat and other cereals to the European
markets! Iron and coal are found all over Siberia in
rich and often contiguous deposits. Mercury, lead,
tiD, copper, salt and other minerals also exist to vary­
ing extents. The precious metals, gold and silver, are
likewise found in a number of deposits much richer
than the poorer deposits now worked in America. As
yet none of the minerals have been developed in a
Wo.
Section.
From and lo—
Miles. thorough and extensive way, owing to the small local
I. W estern Siberian.......Cheliabinsk to Obi R iver............... . —
878
n . Central Siberian..........Obi R iver to Irkutsk.......................
1,162 demand and the lack of transportation facilities.
H I. B aik al............................ Irkutsk to M ysovsk.................................. 194
Tne writer in the “ News” thinks that there can be
IV. Transbaikal................ M ysovsk to Sretensk................................ 667
V. Amoor.............................Sretensk to K habarovka......................... 1,325
VI. North Ussurisk............ Kbabarovka to Orafsk............................ 230 little doubt that questions both cf national and inter­
V II. South U ssurisk.......... Orafsk to V ladivostok............................. 252 national politics enter very extensively into this TransT otal...........................................................................................................4,708 Siberian scheme ; otherwise the immediate expenditure
N ote .—These divisions and distances are th ose given b y a R u ssia n of 270 million dollars in a work which will not for a
Governm ent report published in 1893. In several more recent but
unofficial states en ts the lengths of Borne of the divisions are som e­ long time prove remunerative in a strict monetary
w hat different, but as the total length of line is practically the sam e in
a ll cases the older official statem ent Is given here.
sense would not have been so cheerfully undertaken.
It will be seen that this provides for a line 4,708 At the same time, however, the road will serve to open
miles in length, with its Western terminus at Ohelia- up to the markets of the world vast natural advan­
binsk in Central Russia and its extreme eastern term i­ tages and resources which will ultimately compete with
nus at Vladivostok on the Sea of Japan. In other the advantages and resources of the North American
woids, it provides for a line across the whole of South- countries in supplying European markets. The road
ern Siberia, and is properly termed the longest line of means that Europe is to be connected to the Pacific
railway in the world. The project appears to have and the Far East, with Japan and China, by an unin­
first taken definite shape in 1890, and on May 13 terrupted line of railway communication. It opens a
1891 construction work was begun at opposite ends— new route for the world’s trade, as well as for Russian
that is from Vladivostok northward and westward and trade, across the country which has not inaptly been
from Cheliabinsk eastward. In 1891 the Central called “ Russian Canada.”
It is noted that auxiliary to the road itself large
Siberian section waB started. About 1,950 miles have
been completed thus far, 1,550 miles on the line east sums of money are to be spent in construction designed
from Cheliabinsk (giving, with the road in European to develop local traffic, in waterway improvements and
Branch railways are
Russia, a line from Moscow of about 2,500 miles in in colonization enterprises.
length) and 400 miles on the line north from Vladivostok. planned to connect the main line with nearby mineral
A further very considerable amount of mileage has districts and favorable water routes, and wharves and
been either wholly or partially graded. It is intended docks are being built. Large sums are also beiDg
to have the rails laid on the whole line (except the expended in geological and mineralogical work inten­
1,400 miles down the Amoor and the loop around ded to exploit the mineral resources, and similar work is
Lake Baikal) in two years and the Amoor Line may being done to develop the agricultural possibilities of
poesibly be completed in four, years. That construe, the country. When the appropriation was made for the
tion is beiDg prosecuted with great vigor is evident Cheliabinsk-Irkutsk and Vladivostok-Grafsk sections it
from the statement that at times during the late was provided, the “ N ew s” says, that 14,000,000 roubles
Eummer 150,000 laborers were employed. The track ($10,808,000) were to be used on auxiliary works of the
is on the Russian standard gauge, namely 4 feet I l f kind mentioned, and it is announced officially that the
inches, and the rails weigh 49 pounds to the yard. probabilities are that similar amounts will be set aside
The “N ew s” says that the type of construction is in farther appropriations. Now that Russia h is made
substantial but rough and in a degree temporary, the arrangements with Cninafor building railways in MinAmerican practice of bending all energies to open the churia, it seems likely that Vladivostok may be aban­
line for tiaffic and leaving the better and more perma­ doned as the eastern terminus, or at least that Russia
nent work to follow having been adopted. The imme­ will get a second terminus farther south, say at Port

Nor can it be claimed that the enterprise is one in
which we are interested only as spectators. When it
is considered that even under existing conditions
Russia has within the last few years loomed up as a
great competitor with other grain-producing countries,
and particularly the United States, her exports of
wheat in the year ending June 30 1895 having
reached no less than 142f million bushels—-when this
is considered and the possibility contemplated of still
further accessions from the same source, it becomes
evident that the undertaking is one whose progress and
development it will pay to watch very carefully.
We have referred to the road on a previous occasion
andjmade some brief general remarks upon it. But
facts regarding the project and the progress of the
work have always been meagre and difficult to obtain.
Two weeks ago, however, the “ Engineering News”
published an article, evidently prepared with great
care, containing much information, previously lack
ing, respecting the scheme and also bringing together
all known data regarding the same, the whole afford­
ing a comprehensive idea of the nature and character
of the project. In the present article we shall avail
ourselves of many of the facts and statistics presented
by the “ News.” For purpose of construction, accord,
ing to our contemporary, the line has been divided into
seven sections, whose length and termini are indicated
in the following.

THE CHRONICLE.

D s o m b e r 5, 1306,]

Arthur. A terminus at the latter point would mean
that Ra€3ia had obtained what she has so long desired.
A terminus at that point, too, would possess great adrantage over that at Vladivostok, since the latter port
is closed by ice a large part of the year.
COT TO X C O N S U M P T IO N A N D O V E R L A N D
M O V E M E N T TO DECEM BER 1.
The maiketing of cotton during November has been
on a more liberal scale than for the corresponding
month of 1895, but compared with 1894 the falling oil
is very noticeable. According to our statements
1,634,210 bales came into sight through the ports, in­
terior towns and the rail movement overland in Novem­
ber this year, or 313,113 bales more than in 1895, when
the aggregate was only 1,321,097 bales; but the
total reached 2,197,167 bales in 1894 and 1,704,608
bales in 1893. Tne aggregate for the three months of
1896 is 4,743,059 bales, against 3,585,613 bales for tie
like period a year ago and 4,977,500 bales in 1894,
Northern spinners hare taken 286,049 bales during the
month, and their total takings for the season to date
exhibit an increase of 28,28L bales compared with last
year. Contrasted with 1894, however, this year’s tak­
ings exhibit a maiked decline.
O VER LA N D MOVEMENT TO DECEMBER 1 .

The grots shipments overland have been less during
the month than in the like period of any of the pre­
ceding three years, reaching 228,696 bales, egunst
235,300 bales last year, 431,786 bales in 1894 and
306,526 bales in 1893. In fact this year’s gross for
November is smaller than the same month for
any year since 1884. The season's total is now
71,745 bales more than in 1895 but 206,543 bales less
than for 1891. The net overland for November is
likewise less than tor the month of 1895, having been
only 160,259 bales, against 183,338 bales, and there is a
decrease of 210,567 bales compared with 1894, when the
aggregate was 370,826 bales. For the three months the
aggregate net is 397,806 bales, an increase over 1895 of
35,298 bales, and compared with two years ago the loss
!b 214,987 bales. Presented in our usual form the re­
sults for the past three seasons are as follows:
OVEELAMD PHOM S E IfK K B K R 1 1 0 DECEMBER 1,

1898.
A m o u n t sk ip p e d —
Via 8t- Loot*...................... .........................
Via C a ir o ........................... ........................
Via Parker .................................................
VI* L o u isv ille ......................................... .
Via C incinnati.. . . . . . . . . . . . . ___ . . . . . . . .
Vi* other route#____. . . . . . . . . . . . . . . . . . .
Shipped to mill#, s o t tnciadfd a b o v e..
T-st*j ****** overland . . . . . . . . . . . . . . . . .
Oedutd shipm ent* Overland to New York, Boston, A c ...
Between Interior tow ns . . . . . .
....
Qaivastcm* inland and local mills . . . . .
Mew Orleans, i ntfttd and local m ills...
Mobile, Inland and local m ills .............
Savannah, Inland and local m ills .......
Oharieston, inland and local m ill*...,..
$f, Carol’a porta, Inland and local mills,
Virginia port#, Inland and local m ills,
fotfei) '** *w%d* d ficrod. . . . . . . . . . . . . .

I 1895.

1894.

231,399 224 918
123,727] 105,099
8,967
7,596 j
24
502!
67,449
64,4621
26,396
57,763*
41,147
22,507
4,582]
1.073

383,638
150,957
9,509
1,387
70,778
68,001
49,722
4,729

531,1781

459,433

737,721

116.234
1,782
1,575!
7,687
2,892
384,
318
2,520]

75,664
1,861
2.158
7,212
2,893
513
3,071
405
3,118

81,436
10,185
1,402
9,662
10,031
1,389
6,286
425
1,172

133,372

96,925

993

year, reaching 1,286,251 bales, against but 912,759
bales last year and 1,607,662 bales in 1894. The ag­
gregate for the three months is consequently 1,168,148
bales more than for the same period in 1895, but
81,835 bales below the total for two years ago. The
outward movement of cotton has been of quite free
proportions in November this year, the total foreign
shipments having been 1,056,661 bales, against 694.771
bales a year ago, and 1,154,511 bales in 1894, and for
the season to date the aggregate exports have been
2,349,740 bales, or 913,356 more than for the corre­
sponding period of 1895. Contrasted with 1894 there
is a gain of 70,845 bales. Port stocks have increased
94,344 bales during November, and are now 89,204
bales greater than on November 30, 1895. Our usual
table of receipts, exports and stocks is as follows:
Movement fro m Receipts R eceipts EXPORTS SINCE SEPT. 1, 1896 TOS to c k s
since
Seyt. 1, 1890, to since
N o v . 30.
Sept. 1, Sept. 1 G reat France. Conti­
Vec. 1,1890.
lo ta h
1896.
1895. B r ita in *
nent.
G alveston ........... 795,610
50,24*
T ex a s City,&c.
ffew Orleans.
1,098,604
Mobile.................. J33,023
31,210
ia v a n n a ii........... 471,689
Brunswick, &c- *78,552
CJharleaton... . . . . 251,715
32,Ot 4
Port Royal,Ac
W ilm in g to n ....- 189,375
Washlngfc'm&e
455
Norfolk .............
430,09*
7,361
Newp'tNews.& c.
18,112
Mew Y o r k ...........
67,590
B oston....... .........
18,551
B altim ore...........
13,981
?U U aaaiphis,*a

4P 3,102
38,021
809,195
98,016
12,198
408,337
57,949
165,029
23,553
106,400
35"
125,104
91,280
9,521
36,835
11,598
17,710

Total 1890....... 3,887.253

379,959

93,548

352,777
49,636
16,769
36.S22
31,650
50,844
30,82?
65,926

178,629

07,794
12,846
103,857
02,298
27,128
8,427

15,341

126,921
11,109
207,261
5,627
3,922
146,102
3,865
94,785
78,290
9,200

.......
8,182
2,852

64,458
902
24,130
4 457

600,426
11,109
736,567
55,263
20,691
188,265
35,515
145,629
30,82?
144,218
76,994
2,846
176,198
63,200
54,110
7,834

180,504
5,239
372,40#
53,845
121,178
16,395
62,175
22,199
s i , ’: os
8,046
223,357
29,000
12,839
5,515

1,272,311

296,400

781.029 2,349,740 1,193,996

872.023

185,940

577,821 1,436,384 I.OC4.703

8,749,088 1,060,391

306,377

913.127 2,278,895 1,183,741

Total 1 8 9 5 .....

2,469,105

Tntal 1 8 9 4 .....

* Great Britain export* Include to the Channel.

Using the facts disclosed by the foregoing statements*
we shall find that the portion of the crop which has
reached a market through the outports and overland,
and the Southern consumption, since September 1 this
year and the two previous years, is as follows.
1896.

1895.

1894.

Receipts at the ports to Dr o. 1 ___bales. 3,667,253 2,499,105 3,749,088
Vet shipments overland daring same time 397,806 £62,508 612,733
Total receipts................................bales. 4,085,059 2 861,613 4,361,821
‘kinthern consumption since September 1 261,000 259,000 230,000
Total to Deo, 1 ........................b a le s . 4,326,059 3,120,613'4,591,82X

The amount of cotton marketed since September
1 in 1896 is thus seen to be 1,205,446 bales greater than
in 1895 and .265,762 bales less than total for 1894. To
determine the portion which has gone into the hands of
Northern spinners during the same period we have
prepared the following:
Total receipts to December 1 , 1896, as above............ bales. 4,326,059
Stock o n !)»»' .ommeneement of year (Sept. 1 ,1 8 9 6 )—
At Northern ports......... ............ ...........
70,990
At Southern p o r t s ................... . .......... 151,688— 222,678
At Northern Interior m arkets..............................
4,050— 226,734
Total supply to December 1 .1 8 9 6 ................................ ...... 4,552,793
Of h » «nopi.v r.in-r*. nas o«en exported
to foreign ports since Sept. 1 , 18 96..2 ,349,740
Less foreign ootton In clu d ed __ bales.
6 ,8 3 7 -2 ,3 4 3 .3 5 3
Sent to Canada direct from West............................
31,975
Burnt North and South.............. ............... ..............
1,938
Stock on hand end of month (Dec. 1 ,1 8 9 6 )—
4 t Northern p o r t s ............................. 270,741
At Southern ports . . . . ......... ............ . 923,255—1,193,996
At Northern interior m arkets................ ...............
3,919—3,575,181

Tot. takings by spinners since Septem borl, 1896 ..................
124,958 , Taken by Southern spinners.........................................................
612,733 Taken by Northern spinners Tnee September 1, 1 8 9 6 ........
Taken by Northern spinners same time in 1895............... —

Leaving- total net o v e r la n d * ..... . . . 397,806 362,503
* This tot-,' Income# shipment# to Canada, &o., by rati, which since
Septem ber 1 in I f >« amounted to 81,975 bale*: in 1395 were 22,073 Increase In takings by Northern spinners this y ear..b ales.
bale* and In 1394 were 30,986 bale*.
The above indicates that Northern spinners

976,612
261,000
716,612
688,331
28,231

had up
RECEIPTS, EXPORTS 1N D SPIN N E R S* T A K IN G S,
to Dec. 1 taken 716,612 bales, au increase over the
Receipts at the porta for the month have been less corresponding period of 1895 of 23,231 bales and a
than in October, bat heavier than in November of last loss from the same time of 1894 of 303,437 bales.

THE CHRONICLE.

B94

AMOUNT OF CROP NOW IN SIGHT.

In the foregoing we have the number of bales which
has already been marketed this year and the two
previous seasons. An additional fact of interest is the
total of tho crop which was in sight on December 1
compared with previous years. We reach that point
by adding to the above the stock remaining at that
date at the interior towns less stock held by them at
the beginning of the season. In this manner we find
the result for three years on Dec. 1 to he as follows :
1895.

1896.

1894

Total marketed, a s ab ove— bales.
Interior ato o ts In ex cess of Sent. 1.

4,326,059
422,000

3,120,613
465,U00

4,591,821
385,679

Total In sig h t..................... bales.

4,748,059

3,583,613

4,977,500

This indicates that the movement up to December 1
of the present year is 1,162,446 bales more than in
1895 and .229,441 bales less than in 1894.
As it will interest the reader to see what has come
into sight each month of the season during this and
previous years, we have prepared the following, which
shows the movement for the last four seasons.
Months.

1896.

1895

1894.

1893.

September............
O ctob er...............
Novem ber............

1,222,287
1,891,562
1,634,210

542,394
1,722.122
1,321,097

663,703
2,116,030
2,197,167

511,273
1.637,555
1,704,608

Total 3 mop ffi s.
Balance season..

4,74 ,059

3,5«5,613
3,576,860

4,977,500
4,915,266

3,853,436
3,673,775

7,162,473

9,892,766

7,527,211

Total orop.......

WEIGHT OF BALES.

To furnish a more exact measure of the receipts up
to December 1 we give below our usual table of the
weight of bales. We give for comparison the figures
for the same time in the two previous years.
Three m onths en d in g Bee. 1 ,1 8 9 6 .

Sam€
Sam e
-s
perVd in p eri’d %
1895,
1894

Weight i n
P o u n d s.

Average Average Averag>
Weight. Weight Weight

845,858
T e x a s ................
to n lsia n a .......... 1,096,604
136,023
A labam a.........
581,451
Georgia*..........
283,809
Bontb Carolina.
437,444
V irg in ia ..........
169,830
North Carolina.
Tennessee, &o„
775,040

446,680,6»3
559,213,210
69,099,684
282,451,452
138,757^058
210,099,979
83,462,953
386,589,952

528 08
509*95
50800
485-77
488-91
480-29
491-45
498*80

535-13
516-87
50300
485*36
484*48
489*96
491*71
50000

539 50
518*39
515*00
500 89
498-20
490*93
500-24
498 90

Total........... 4,326,059
* Tnnlnriing Florida.

2,176,354,981

503-08

506-27

512 12

N um ber o f
Sales.

I t will be noticed that the movement up to December
1 shows a decrease in the average weight as compared
with the same per iod of last year, the average this year
being 503-08 ibs. per bale, against 506-27 lbs. per bale
for the same time in 1895 and 512-12 lbs. ia 1894.
DRY

GOODS T R A D E D U R IN G

NOVEM BER.

The result of the elections imparted a decidedly firm
tone to the market for staple cottoas, and with an
improved demand sellers in a number -of instances
secured slight advances for both spot and contract
goods in brown and colored cottons. Bayers lacked
stamina, however, and the demand soon fell away, the
rest of the month proving decidedly quiet, with a sag­
ging tendency to vards the close and all the early gains
lost. A number of mills resumed work during the
mouth and their efforts to secure orders, coupled with
an easy cotton market, had a weakening influence.
Abnormally mild weather also told against the market.
In printed dress fabrics for spring a good business was
done, the bulk of it in specialties in sheer fabrics and
fancy weavts. In regular prints, indigo blues and
shirtings advanced £e. P rint cloths advanced 1 16c.
early in the month, but gave way again. The stock of
cloths at the close was the largest ever recorded.

[V

1896.
m
S3
IS Oott’n P rin t­ Sheet­ L a n ­
&3 low
ing in g s, caster
>
O m id ­ cloths, stand­ ging­
S3 dling. 64a?64 ard. ham s.
1..
2..
3..
4..
5..
6..
7..
8
9..
10..
11..
12..
13..
14..
15..
16..
17..
18..
19..
20..
21..
22..
23,.
24..
25..
26..
27..
28..
29,.
30.,

71 *,« 2%

89ig
84b

3*,fl

5%
5*8
5%
51®

89iq

3*16

5
5
5
5
5
5

5*8
5%
5%
5*8
5%
513

8*16

3H

5
5
5
5
5
5

5
5
5
5
5
5

8S1S
8*w
83,e
8 is
8
8

3%
34,
3*4
344
314
3M

8
71*16
71*, 0
7 1o16

5
5
5

5
5
5

34l
34,
3-4
3%
3*16

Ss16

5
5

5

s4®

5

5

81s"

5

5*8

2*8
2 eg
2%
2«w

5^9
SLj
5 is
5%

5
5
5
5

71318 21 h a
2H l
2Hi8
7%
7V
2 'lis
25*
76s
7*8
2%
7%
2*8
2^8
7 He 2*8
7»16 2*8
7%
2%
74*
2*s

519

7%

73«
7h
74s

2%
2^8
2*8

76,6
7*16

2*8
2*8

Ih e

2*8

Sis
5%
5^
5%
.. 8 ...
5%
5%
O^B
5%
5%
58s

_.s.. .
538
5%
5%
.. H_.
5
538
...S ...
5^8

.

1895.
S ’th’n Cott’n P rin t­
in g
3 -yd.
low
sheet­ m id ­ cloths,
ings. d ling. 64*64

5%

7%

ol. l x i i i

8*9
8i«

8*8w

Sheet­
in g s ,
stand­
a rd
6
6
6
. H
6
6
6
6
...8 .-.
6
6
6
6
6
6
6
6
6
6
6
6

33le
33ifi

5 7s
5 78
543
.. H „
331r 5*fl
33,6 5 78

Lan­
caster
g in g ­
ham s

SHh’to
3 -yd.
sheet­
ings.

5*4
5i®

550
5*8

5>s

5*8

5ia
5is
5i®

5*8
5*8
53$
5°8

f,ia
&i®
5i®
58,
5*a
ok.

5*8
5*8
5*8
5*8
5<%
5%

51®
51®
51®
51®
5^
5*3

5^8
5*8
54s
5>a
5*3
513

51®
5^j
51®

5i®

o^a
513

51a

51®

§ y Ole above prices are—For cotton, low m iddling uplands at New
Y oijb; for printing cloths, manufacturers’ net p rices; for sheetings an d
sringhams, agents’ prices, whtoh are subject to an average diaeouut of &
per cent, e reept when o iherwiae sta te d ; Soathera sheetings net.

OUT I N K ANSAS.
The snug little State of Kansas seems to be in a somewhat
despondent mood just at present, but she will soon wipe
away her tears and resume her usual good humor.
Her disappointment at the result of the elections is patheti­
cally poignant, and she makes wry faces and tries to believe
that the everlasting smash cannot be postponed much longer,
but the ozone which comes with forty below zero will soon
brace her tangled nerves and give her a more cheerful out­
look.
She was sure that Mr. Bryan would lease the White House
for at least four years and that in consequence of her pull on.
the administration everybody would have a fat office and live
in clover. But that dream has been rudely broken up, and,
like. Rachel of old, she refuses to be comforted.
Jerry Simpson, the sockless statesman, is doing his best in
the way of prophecy, and is gracious enough to say that
Kansas still has a future, dimmed, of course, by McKinley,
but still a future of moderate proportions.
W hy need Kansas bury her face in her hands and weep ?
There is money enough underground to satisfy any reason­
able man, even if he is a politician. Oil has been discovered
in various localities and natural gas enough to illuminate all
the interplanetary spaces if properly piped. More than that,
she has coal mines with such a generous supply that their
product can be delivered at the mine’s mouth at less than
seventy-five cents per ton. She also enjoys prohibition, and
no one can get a drink of whiskey unless he swears that he
has been bitten by a snake.
Take her for all in all, Kansas is on the road to wealth and'
ought to stretch Thanksgiving Day up to the first of January.
—New York Herald, December 3.

D E B T S T A T E M E N T N O V E M B E R SO, 1896.
The following statement of the public debt of the
United States on November 30 1896 is made up from
official figures issued on that day. Lower down we
give an interesting exhibit of the bonds issued in aid
of the Pacific Railroads, and the Treasury cash hold­
ings, all of the same date.
.

IN T E R E S T -B E A R IN G

T itle o f L o a n —

I n te r e s t
p a y a b le .

a t 2 'I r e i Q ~ M 4 s .F u n d e d l o a n , 1 9 0 7 ..Q .— J .
4s. R e f u n d ’g c e r t if i e d . Q . — J .
6s . L o a n Of 1904 ........Q.— F .
4s. L o a n O f 1 9 2 5 .........Q — F .

T o ta l, e x clu d in g P a e .

”

DEBT

Am ount
is s u e d .

$

250*000,000
740.339,800
40,012,750
100.0u0.u00
162,315,400

*'

N O V E M B E R SO, 1896.
,--------—A m o u n t o u ts ta n d i n g . --------- *
R e g is te r e d .
C oupon.
lo ta U

$

25,364,500
490,393,750
.............. .
59,^08,050
97,404,950

~

$

$

......................
69,244,700
. . . . -----4 0 .0 -1 .9 5 0
84,910.450

"

25,394,60055 9 ,6 3 8,450
46.170'
1 0 0 ,000,000
162,315.400

R E B o n d s .................. .......... 1.293.227,950 6 7 3 .0 7 1 2 5 0 174,247,100 8 4 7 ,364,520
N o t e - T h e d e n o m i n a ti o n s o f b o n d s a r e a s f o l l o w s : T w o p e r c e n t s ( r e g i s t e r e d
o n l y ) , $5o, ftO 0 , *5oO. $1,000, *5,000, U u .0 0 0 , € 20 *000. $ 5 0 ,o o 0 : 4 s o f 1*07, r e g i s ­
t e r e d , e so , $ 00, 5560, n 0<>0, $5.00’>, $ to ,i'0 0 , $ -0,0 0, $ .0 ,5 0 0 , c o u p o n , $50, $ 100 ,
$5< o, $ 1 0 0 '; 4 s, r e f u n d i n g e e r t iS c a t e s , $ 1 0 ; 5s o f 1904, r e g i s t e r e d , $50, $100„
$1,000, $10,000, c o u p o n , <50, $100, $1,‘>00 : 4 s o f 1925, r e g i s t e r e d , $50, $100, $500^
$1,000. §5,U00, $19,000, c o u p o n , $50, $ 1 0 0 , $500, $1,000.

December a, 18i#6.]
_

THE

C H R O N IC L E .

D E B T OK W H IC H IN T E R E S T H A S C E A S E D S IN C E M A T U R IT Y .

Oct. $L
P a in te d L o a n o f 1891. m a tu r e d S e p te m b e r 2,1 8 9 1 .. $375,550 00
Did d e b t m a tu re d p rio r a n d s u b s e q u e n t to J a n . 1, '0 L 1,23 1,160 26
D e b t o n w hich in te re s t h a s c e a s e d . . . . . . . . . . . . . . . .*1,607.010 26
DEM ’

B E A R IN G

NO

$1,501,620 26

IN T E R E S T .

U n ite d S ta te s n o te s ................................................................. .............. ....$316,681,010 00
Old d e m a n d n otes. .........................................................................................
51,317 50
N atio n * ! B an k n ote«—R e d e m p tio n a c c o u n t. ....................
18,541,219 50
¥ ra e * io a d c u rre n c y ............................................................ $15,266,438 11
Leas a m o tm t e s tim a te d a s lo s t o r d e s tr o y e d .. . . . . . . . 8,375,931 00
-------- ------- —
6,890,501 11

& fsxm & te o f d e b tb e a r tn # n o I n te r e s t. .......... . . . . . . .................$372,170,117 11
R E C A P IT C R A T IO N .
N ov. 30.
Oct. 31.
„
1896.
1896.
O lam lJk aH cm o f D e b t
$
$
I n t e r e s t > b e a r i n g d e b t . . . . . . 847,361,520 o o
s i7 ,3 6 1 ,4 6 0 oo
D e b t.in te r e stc e a s e d ...........
i,& 1620 20
1*097,010 26
B e n t bearing no in te re s t... STz,.l7*Kll- U
372,100,217 *M

Increase or
Decrease.

$

Ine. 60 00
D ec. 15.?
Ine.69ts69 50

T o t a l g r o s s d e b t ............ ,1,221.126,257 !-•» 1.221,071.717 90
.572.761 m

T o ta l n e t d e b t........... .

9 .*5,769.158 93

I n c .5 l,5 * 9 50
D ec.8.215,683 16

987,198,956 27

18S0K O

IS

«—
.jte r m s 4

A ID

of

N am e

o f BaUtmit.

C antral
entral. .... .

P r in a p fU : I n te r eat.

i

#

Kaaaa# PmM s}..

6,1' 8,145

L 1899.

3,96*2,009 SJLll.000 10.6U.120

27.23d,S12 29.9I7.diH
vftetem Psieifir.. 1,970.566 3,195.819
1.82&S& 2,180.^25
Sw sjc C ity Je P m
T«ui__ 79.iT8.sw7 u.ooiuoi
C a le a P a e ia e ,...

OuoJL Ur, V. P .. .

r a il r o a d s .
p t i A o r d t* e o f m a t u r i t y .—
O u r J a n , Du-- J a n . D u e J a n .
1, 1897.
1,1898.

p a c if ic

-—
A lr e a d y
p a id .

a c c tk m iih x te d i n i .

2,08 0 ,0 0 6 2 ^ 0 0 ,0 0 0 1,423,000
M d 6 (o a0 3.840,006 15,019.512
fHO.OW 610,000
380,000
........
320,000
........
........
. . . . . . . . 1.628.320

9,197,009

l.feo.ised

sa.sei.ass ii.ooi.580

The cash holdings of the Government as the items stood
Novemlx-r 80 we take from the Treasury statem ent of that
date. The net cash balance given below is the same as de­
ducted above la reaching the fief debt.
CASH

IN' T H E

T B X A S O T tV .

O oM )~C o!u........... ............. ..................................... l u t . ' t r . s n »4

................ ............................. S».B8.<.-9# *0
o m tm . . . . . . . . . . . . . . . . . . . . . ..... .......................,
2Woo

B in t

527,101 81

itateldtenr m in . , . ....... ........................................ . . . .
1
11
................................... .
113.137,65* 0 3 - £09,680,450 44
Pmmr— fj s ite d S tate4 no »,**•*..............................
71JSO5,55*3 OO
Trmmnxf m d m o f MINI............................. ...... . . . . . .
00
G o ld e e r t U te a te * ..........................................
1.416.390 OO
Stiver flefMkawte*............................... . , ...................... i l , 6^1.383 00
**( d**t#Mt t A c t J » » « § , i#7$>. . . . . . .
■*<*,000 60
NaUoOAi b a n k t u / t e * ......... .................... . ................. ia.C 63.470 69 - 139.616.155 69
O t b « r ^ l 0 (ii)A, Inter##!, and cou p on s paid, aw aitlo d r«liiibar!t9R i*?flt ................... ....................... ..........
173,161 89
1 . l i w crdfi Mid
G arren cy...
.
....
1.**; 1.87A 88
in naiT bank dejjtfwiterte* —« # n ’ l t e e t .. 12,300,667 10
DU'feaiwiTig
• b *)*jie**.
..............
3.332,387 4 1 17.137.872 34
....... . . . . . . ______. . . . . .

A ib r m f a t e ,..,

*8535.901,579 81

D E M A N D L IA B IL IT IE S .

Got4

.......................... 130,433,139 00
.9**3,604 00
, 1 8 7 9 ,...........
38A10,fl©0 00
. . . . . . .................. 121.0 7 7 .2 -0 0 0 -1 5 6 7 ,5 2 3 ,9 2 3 «»*»
iaiI I b a n k n n t e s
8.®25.601 o i
4 ,1 2 9 ,0 * 0 05
0 * * t« te ii4 l» F efteefc* » n 4 « U » 8 * . . . . . . . . . . . . . .
25.718,36-' 09
DfciJbfitein-« oUlem* f ta la n e # * . - ..
4.577.200 59 43,080,653 31
jKS&ntftlA A c . . . . . . . . . . . . . . . . ...
,*K»0.0»>kO6O 00
. m ,3 5 7 ,W i3 47 ............................... 225,367,088 47

..........

Mrot omttflteM&m
m Ateoalt ini Jan®
Traatary mdm of V9®..
Fund f«r
of nnmkrrmt

@Omfm/ttfm
Net

Sir

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

ftansmt..............

................ . . . . . . . . . . . . . . . . .................................,.. ., .. ., ., $ 8 3 5 ,9 6 1 , 5 7 9 81
N e t rjw h te tlan e w l a t b s Tr®4wmry O d o h B P 3 1 , 1 .^ 6 .. .. ..................... . . U 8 u ? 2 . 7 f t l 63
N et cash Laianc*}fa tf*« T r ^ m n r y N o v e m b e r $*), 1 8 9 6 , . . . . . . . . . . . . . 225.357,093 -47
|> e a r« # # e O a rte ie th « m n o ik i.- - .4 . ,.

— ................................................

18,215.003 18

Clearings by Telegraph,—Sales of Stocks, Bonds, &c.—
Stiiik Each tago Ciei i n g H *iise T ran-actlons—The subjoined statement, covering the clearings for the ctirre«t week,
neually appeari on the first page of the C hrosiclb, but
on account of tbe length of the other tables is crowded out
once a month. The ftguree are received by telegraph from
the leading cities. It will !>•>observed that as compared with
the corresponding week of 1895 there is a decrease in the aggregate of 1*8 p«r cent. So far as the individual cities are
concerned Mew York exhibit* a decrease of 0*7 percent, and
the
at other ooiaw are: Pnilad ilohia, 10*o per cent,
Chicago, 8*0 p r cent, and R ev Orleans 16'6 per cen*.
B «ton rec *rds a gain of I8 'l per cent, Ballimore, 5*4 per cent
and St. Louis 5'7 p-r cent.
0X,KARI»r©JS,
1 elryrnph.

Week Bndinq December 5.
1898.

1895.

P e r Dent

S t . L o r n # ............... ...............
J f« w O lM M I*______ _________

$578,877,580
9 7,950,9 »4
53,542,540
13,527.741
85,887,294
25,215,835
10.565,360

$ 5 8 3 ,171,491
80,802,032
71,267 692
12,828,841
93,047,108
23,856,104
12,008,662

- 0-7
-H 3 * l
-1 6 5
+ 5-4
- 8-0
- 5*7
-1 6 * 0

0 tt* « r G ttl m , 8 d * y* ...............

$871/201,104
159,470.923

$ 0 8 1 ,435,990
181,492,783

-

r# te i
8 $my« ..... ~ i i , 0 3 >.741,087
1SS.371.4S7
A ll e itia # , l dskf - .......... . . . . . . . .

«1 ,044.928,753
191,373,786

- 1*3
-4 2

$1,314,013,524

$1,236,362,539

-

!* * * Y ot-K........................ .. .......
B o t t e a .»*» — —
ILMtlsBor# . . . . . . . _____ . . . .

f o te J *11 o ilte * f o r w # « k ..

Another table, our usual monthly detailed statement o f
transactions on the various Mew York Exchanges, has also
been crowded off of the first page. The results for the eleven
months of the current year are. however, given below and
for purposes of comparison the figures for the correspond­
ing period of 1893 are also presented.
Eleven Months , 1S96.
Description. P ar Value
or Quantity

Actual
Value.

Eleven Months, 1895.

A oer'ye P ar Value
Price. or Quantity

A ctual
Value.

Average
Price.

50,783,017
59,63-9.208
Sto ck | yaL* $474331X888 | 8089021986 65-1 j $5677,202,8
i 5 f 8391620354 59*8
RR. b o n d s. . $32^,633,02i> $231,332,183 70*2
$459,831,080 $324,163,557 70*6
G ov’t b onds
$28,125.407 115*4
$7,218,250
$8,355,2 *<115'8
$1,998,500
S ta te b o n d s
$1,U41,044 52*1
$5,241,70.)
$2,121,417 40*5
$525,500
Bans: sto ck s
SS44.661 160*7
*722,4.9 107*2
$432,216
T o t a l. . . . $5100103553 $3,35131826^ ^35*7 ~ $6149,546,101 3,726,983070 60*0
O o tto n . .b is. 42/21,700 $1,021587420 $33*22
46,874,500 $1,763941060 $37*74
G rain , b u sh . 1219,212.152 $-35,189 05 1 6SV£e. 1,846,687,101 $12099767 0 i Q5^e.
T o tal v a in A
$5.807691734
$6.7 590083 >

In e. 8.270.2 2 66

Tbe foregoing figures show a gross debt on November 80
ISM (iaterest-fcSaring and non interest-bearing) of $1,331,188,3 >7 4 ) a n i a net <l*e dtrosa cl bt lass net cash in the
Treasury) of 8993,789,158 93.
Pacific Railroad bonds are never included in the official
total of the G irerntneat debt. The status of these obligations
to-day is as below. Methods of book-keeping make the of­
ficial record unintelligible to most readers, and hence we
have brought together in opr compilation the leading facts
relating to the subject.
B O YD S

995

1*4
1-2

1*8

f ^ o a e ta y g lC P g n x ttt e v c t a l

j g l i s U J |je u r s

[From our ow n correspondent.]
L o n d o n , S a t u r d a y , November 21, 1898.
The speculative departments of the Stock Exchange have
been more depressed this week than last. Two important
dealers in the South African mining section have had to be
helped, and although it is said they will ultimately be able
to pay twenty shillings in the pound, for the time being their
securities have had to be taken over to prevent several serious
failures. Tii ,* securities will be held by the great mining
magnates until there is some sort of recovery in the market,
when they will of course be sold. For some weeks past the
market has been depressed by reported sales from Paris, and
although there has undoubtedly been considerable selling,
both from Paris and from Germany, many of the sales which
were attributed to the Continent were in reality sales by
people here in London who were heavily emoarrassed.
The final settlement of the Transvaal gold shares has at last
been completed. Tbe delay was partly due to the natural
dilatoriness which has distinguished the mining section ever
since the beginning of the boom of last year, but it was also
delayed intentionally by the dread that was felt in so many
interested quarters that a large proportion of the memaers of
the Stock Exchange would be fouud to be uua ile to meet
their differences. As far as is officially known no one has
b e e n “ hammered,” but the losses in some cases have been very
considerable, and although relief is felt that the settlement of
the account has at last been completed somehow, many firms
have been severely hit. There has been some recovery in
prices, partly on account of the completion of this settlement
and partly upon buying by the great African migaates for
the purpose of steadying the market, but the imprivem mfc
has as yet not gone far enough to materially help the m trket.
With reference to the department in which your si ie is
interested, viz., that for American railroad securities, 1 have
practically nothing to report. When it was kaown chat Mr.
McKinley was elected to the Presidency, the professional ele­
ment, both in and out of the Stock Exchange, bought heavily
American railroad securities, in the confident belief that there
would be, at any rate for a week or two, an active speculation
in these scares. That confident belief, however, bai certainly
not been justifi-d by events. The puolic here are at present as
little disoos 1 to operate in American railroad securities as in
South African gold mining shares. The dealers in the
American market stand about all day in the Stock Exchange
sharpening their pencils and wai ing for 4 o’clock, w uch is
the official closing hour. Indeed, with the posdble excjpti>u
of those engaged in the cousol and the home railway markets,
few dealers inside the house are doing anything, and brokers
for the most part pass their days in their offices ; and iu the
case of firms where there are many partners only oue or two
of them find it necessary to come to the city. This state of
general depression for no assignable cause cannot, of course,
last, but it is feared tb it we shall see no material improve­
ment in business until after the turn of the year.
There has been a slackening in the activity which has
characterized the wheat market during recant weeks, the
highest price reported from any of the provincial centers this
week being 38s. Od. per quarter, which is, as you may re­
member, 2 i . below the highest figure I quoted last week.
This reaction in the market bas undoubtedly been brought
about by tbe extraordinary eagerness which our farmers are
showing to burry their wheat to market and realize the bene­
fit of the present high prices ruling. There is a general im-

fVoLi Lxm,

THE CHRONICLE,

996

pression amongst the well-informed that prices will tend to
harden througout the winter, but whether this prove to be
the case or not, those who have had large stocks of wheat on
hand appear to be impressed with the truth of the old adage
about a bird in the hand being worth two in the bush, as there
is certainly no disposition to wait for higher quotations.
There is certainly an element of uncertainty in the course
of prices in this market. Reports this week from Buenos
Ayres give a somewhat more favorable prospect for the har­
vest which will shortly be gathered in Argentina, and should
the harvest prove to be a really bountiful one, no material
advance in prices is expected; but if all the reports received
tip to the present be accurate, the drought and the locusts be­
tween them have done so much harm to the Argentina crops
that the more favorable conditions reported this week are
unlikely to materially affect the position. From no quarter
-do we receive reports of a full harvest. India, as you are
aware, is suffering from famine, and instead of having any
wheat for export will have to import large quantities ; while
as to Russia, although that country possesses a considerable
surplus this year, the harvest, nevertheless, is by no means up
to the average, Consequently the general impression is that
jpricesmust tend to harden all through the coming winter.
An interesting table has been prepared by the Johannesburg
‘Sanitary Board, giving the census of the city in the middle of
October, The total population is returned at 102,078 persons.
O f this number nearly 51,000 were Europeans or whites and
-42,500 odd belonged to the native tribes. Of the white popu­
lation 16,265 were born in the United Kingdom and 15,162 in
Oape Colony. There are over 48,000 Protestants, 4,800 Cath­
olics and 6,253 Jews, while more than 32,500 are returned as
pagans or heathens.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &o ,
compared with the last three years :

C i r c u l a t i o n ..................................
fl? a b llo d e p o s it s .................................
O t h e r d e p o s i t s ........ .......................
G o v e r n m e n t s e c u r i t i e s .................
O t h e r s e c u r i t i e s .........................
a e s e r v e o f n o t e s a n d c o i n ..........
<O oin& b u llio n , b o t h d e p a r t m ’t s
(P ro p , r e s e r v e t o l i a b i l i t i e s . , p . o.
B a n k r a t e . . . .. . . . . p e r c e n t
C o n s o ls ,
p e r c e n t . . . ..........
35 l i v e r . . ....................................................
C l e a r i n g - H o u s e r e t u r n s . . . ..........

1896.
1895.
1894.
1893.
Nov. 18.
Nov. 20.
N o v .21,
N o v . 2 2.
£
£
£
£
20,247,825
25,469,355
26.111,430
25.210.725
0,389,201
7,146,011
5,389,787
3,994,874
43,397,817
49,812,242
85,775,917
28,793,105
13,753,063
14,830,525
13.053,120
9,887,598
27,093,534
27,043,066
18.590,396
23,073.404
20.231,112
32,870,683
26,705,702
17,132,191
35,078,937
41,540,043
35,018,132
25,898.916
52*
67 H
04 11-16
62
4
2
2
3
L10 1-16
105?*
103**
93 7 -1 0
29 15-103.
32% 4.
30«d.
28**d.
105,118,000 195,398,000 116,107,000 114,284,000

The rates for money have been as follows :
Interest allowed
for deposits by

Open Market Kates.

. 1 «
3

Bxnk Bills.

<

-ci
a

Trade Bills.

Six
Months
2J*@3
O ct. 23 4 3 @3%
" 30 4
3
3% s m n
N ot. «4
3%
3*
m
44 13 4 9H&H 3%©% sm u .
" 21 4
+ 3%@3« 3 U
Four

1
I

ThrcsMonths

Three Four
S ix
Months Months Months
SJ4 m
3%
3k.
3*
3*
3%@1 3-54@4 3%@4
i
3H
3H
3%@4
3%@3%

i s u -ie® 3 %

Disc’t Was
Joint
Stock A t 7 to 14
Banks. Coll. Days.
2X 2 .
Si
2% 291
2«
3
3%
2%
3
3*
3*
3
2%
3M

The Bank rate of discount and open market rates at the
chief Continental cities have been as follows:
N o v . 20.
R a te s o f
In ter es t at

{ P a ris ....................
B e r l i n ...................
H l a m b u r g ........
{ F r a n k f o r t. ........
A m s te r d a m ....
O t r a s s e ls ............
V i e n n a ..............
Efc. P e t e r s b u r g .
M a d r i d ..............
C openhagen.

N o v . 13

N op. 6.

O pen
M a rk et

Bank
R a te

O pen
M a rk et

Bank
R a te .

O pen
M a rk et

Bank
R a te.

O pen
M a rk et

2

m
iH
iH
iH

2

m
iH
m

2

m
*H
iH
iH

2

2

5
5
5

iH
iH

5

5
5

5

194
3H>
2S4
394

3

SM
2%

4

3%

0

3X
3
4
6

5

5

5

5

4

4

4*

4%

3%

0

0

5

5
5
B4
8
4
6
5

GOLD.
L ondon Standard.
Bar gold, fln e ....o z .
Bar gold, parting.oz.
Spanish, old ......... oz
N ew .................... oz.
[J. 8. gold o o in ...o z.
Germ'd gold ooln.oz,
French gold ooln.oz.

Nov.
19.
s.
77
77
76
70
70
76
76

N od.
12.

d, s.
11% 77
11% 77
1% 76
2% 70
7% 76
3% 76
3% 76

394

294
394
6
5
494

3
294
4

5

4*

4*

EX

Bar silver, flne...oz.
Bar silver, oontain’g
5 grs. gold.oz.
do 4 grs. gold oz.
do 3 grs. gold.oz.
Cake silv e r ..........oz.
M exican dollars.oz.

d.
d.
2 9 l5ie 2913,6
3071B
30%
301is
32->iq
298 „

305,8
30%
2916lg
3 2 :<i „
29%

IM PO R T S.

Supplies available for consumption (exclusive of stocks on
September 1);
1896.
Wheat imported, ew t. 14,215,630
Imports of flour........ 4,521,860
Sales of home-grown. 6,448,334

1895.
1894.
1893.
16,359,760 15,485,428 15,127,226
4,407,310
4,503,236
4,932,378
3,579,483
4,553,382
5,614,269

T o ta l.......................25,185,324
1896.
A ver.price w heat,w eek.31s. 9d.
Average prioe, se a so n ..2 7 s. Od.

24,346,553 24,542,040 25,673,873
1895.
1894.
1893.
26s. Id. 18s. 4d.
27s. 4d.
24s. 4d. 19s. Id .
26s. l i d .

The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom :
T his week.
W heat...............q r s .2 ,220,000
Plour, equal to qrs. 385,000
Maize............................ 983,000
E n g lis h

L a st week.
2,125,000
300,000
1,020,000

1895.
1,893,000
240,000
586,000

1894.
2,039,00 0
2 55,00 0
243,000

F i n a n c i a l M a r k e t s —P e r C a b le .

The daily closing quotations for securities, &c., at London
are reported by cable as follows for the week ending Dec. 4 :
London .
Silver, per ounce....... d.
Consols., new, 2% p.ots.
For a c c o u n t................
Fr’oh rentes (in Paris) f r.
Atoh. Top. & Santa P e.
Canadian P acific...........
Chesapeake & Ohio.......
Ohio. Milw. & St. Paul
Denv. & Rio Gr., p ref..
Erie, com m on ................
1st p referred ..............
Illinois Central..............
Lake S h ore.....................
Louisville & N ashville.
M exioan Central, 4s . . .
Mo. Kan. & T ex., com ..
N. Y. Cent’l & H udson.
N. Y. Ontario & West’n
Norfolk & West’n, pref.
Northern Paoiflo, pref.
P en n sylvan ia.................
Phila. & Read., per sh..
South’n Railway, com ..
Preferred......................
Union Pacific..................
Wabash, preferred.......

Sat.

Mon.

2978
u r n 6 112
1 1 1 % 11238
102-65 102-75
14Lj
14%
57%
57%
16%
17
76%
76%
44*2
44
1 5 7e
15%
36
35%
96%
96
156% 156
50%
50%
69%
69%
14%
14
97%
97%
15%
15%
17%
18%
25%
24%
53%
53%
14%
14*2
101*
10
29%
28%
10%
9%
1678
16%
291516

Tues.

Wed.

29%
lllL s
11113,6
103 00
14*fl
57%
16 ^
76%
43%
15%
35%
95%
158
50%
69%
11
97
15%
16%
24%
53%
14%
10
28%
9
16

29%
II IL 3
111%
103-25
15%
58%
16%
77%
44H
161*
36%
96%
156%
513*
691*
14%
97%
16%
17%

Thurs.

29%
1117 8
111%
103 30
15
57*2
163*
76%
44%
16
30
96
156%
51%
69%
14%
97%
15%
17*3
25%
53%
53%
14%
15%
10*2
10%
29%
30 'e
10
9%
17
17

F ri.
29%
1119,8
111%
03-22%
1514
58
16%
77%
451*
161*
36%
90
159%
52%
69%
14%
97%
16%
1 7 13
25%
53%
15%
10%
31%
10%
17%

© u u t m e v c iu l a n d J ^ t s c e lt a a e u u B 3£ew rs
Coinage uy United State•) Mints.—The following state­
ment, kindly furnished us by the Director of the Mint, shows
the coinage at the mints of theUnited States during the month
of November aud for the eleven months of 1896.
Oanu/ic*n,ousxj7»

November.
Pieces.

'Uuoie eagles.........
Half eagles.............
5 darter ea g les.........

Pieces.

179,760
106,77'
76,980

$
3,595,200
1,067, 00
384,800

9
1,991,019 39,820,380
184,564 1,845,640
198,317
991,585

6,80t

17,000

370,290
Standard dollars..
Quarter dollars___
Dim es.......................

Eleven Months 1896.

Value.

5,064,700

12,716

Value.

31,790

2,386,616 42,639,395

1,914,000
312,o45
783.000
380.000

1 ,914,0 0 18,176,512 18,176,512
156,022
2.047,460 1,023,730
197,< 0 ) 4,510,551 1,127,638
38,000
2,1(0,512
210,051

3,394,045

2,305,022
43,450
40,550

Messrs. Pixlev & Abell write as follows under date of No­
vember 19:

$ive ce n ts...............

G old- The CoLtinental Inquiry continues unabated, and there have
also been orders in lhe lia rk et lor the rndlan Bazaars. The Bank has
<-oi<) £178,000 during the week, of which £ 170,00c is for Adexandiia.
£ 7.0 0 0 has been received. Arriva's: New Zealand. £ 1 3 .0 0 '; South
A f ica, £158,000; Chili, £9,000; total, £180,000. Shipm ents to Bom­
b a y , £5,000.
Silver—Owing to some pressure for Immediate delivery and the iucousiderahle amounts on the market, the price hardened to 3 ,-d.; sub
esequently the r a e fell to 29 I5,ed., at which it rem ains to-day.
Arrivals: New York, £192,000; Chili, £ 2 7 , iOO; total, £ 2 1 9 ,'>oo
Shipm ents to Bombay, £91,200.

Potal m in o r ......

5.024.000

89,000

Total coinage. ...

8,783,333

7,458,722

21

Nov.
12.

1896.
1895.
1894.
1893.
Im portsof w h eat,ow t.l 1,215,630 16.359,760 15,435.123 15,127,226
B arley............................ 6,105,990 7 ,2 i7 ,1 3 0
8,291.154
7,031,332
Oats................................. 4,124,070 3,003,110
2,9 >4,441 3,133.447
Peas.................................
894,335
628,950
539,526
553,432
Beans............................
758,240
931,040
971,318 1,039,300
Indian corn....................13,855,280 9,362,600
5,003,335 5,973,774
F lo o r .............................. 4,521,860 4,407,310
4,503,236
4,932,378

969.000
4.055.000

M ex ica n D olla rs —T he la -t r ite at w h ioh d olla rs w e r e d on e is
%'I.
A rriv a ls from N ew Y ork , £?,0Ji>, S h ip m en ts to P en a n g , £ 2 1 ,8 0 0 .

Nov.
19.

The following shows the imports of cereal produce into
the United Kingdom during the first eleven weeks of the new
season compared with previous seasons :

iH

894
3
4
6
o

Silver .
L o n d o n Sta n d a rd .

d.
11%
11%
1%
2%
7%
3%
3%

O ct. 30.

Bank
R a te .

5
5

The quotatious for bullion are reported as follows:

26,835,035 20,537,931
7,705,512
35,425,6 2

385,275
354,257

43,131,184

739,532

72,352,835 6?,966,858

LrOVERNMENT REVENUE AND EXPENDITURES.—Through the
courtesy of die Secretary of the Treasury, we are enabled to
place before our readers to-day the details of Government
receipts and disbursements for the month of November. From
previous returns we obtain the figures for previous months,
and in that manner complete the statement for tie eleven
months of the calendar years 1893 and 1895.

THE CHROJNKJLE,

DECEMBER 5 1896. j

997

S 8 G S IF T S ( 0 0 0 8 o m i t t e d ) .

Exports.

S ilv e r ♦
im .

J a m ...
F « b ....
M a rs h .
A p r il...
M ayJune.
J a ly ...
A n * .,.
S e p t....
O c t . . ..
Ho t . . , .

1885

iV.BA;.

truer’, Red’p. Mtac’l 2 otaL
S'rces

Justoms-

»
*
»
*
17.375 11.176
433-' 8»391
i0 .S 0 7 ‘ 992 1,346
1 3 .^
13.?. 1 1 11,536
3 i l 1,181
0.26-5 11.802
178 2.683
1&SS8 11.550
235
7M
U.3& 2 13A5S 1,314 8,000
!2 ,i5 7 U M
370 2,569
12.330 11.961
S3 1 ^ 7 1
rum
11.679
66 1,531
1X231 13,476
89 2.538
9.930 13.105} 959 2,175

11 m o*

W eek.

*
31.S7S
27.051
26A82j
24,72©
23,409!
29.1U8J
20,399 j
25.58?!
21.050]
27.353|
26,103'

N .Bk.
(nU r’i tled'v. disc1 Total
le v ’ur Fund.] Trees

O uttoms.

1

$

17,606
13,335
14,930
12,309
12.47f
12,130
1A077
I5A <9
14.654
14,347
11,455

8.117
8,960
9.855
11,010
10.751
11,811
12.898
12,172
13.260
13,704
18.040

f
i.« 0
213
5U
768
414
293
l-i2
358
478
-487
610

t a U M i t,* W 20.8St»i295,289! 153,257 125 541

%

%

1,875
093
686
3.457
2,043
1,674
2,094
1,143
036
1,010
1*491

29,098
23,101
25,985
28.842
25,686
25,998
34.251
29.3U9
28.026
30,208
20,598

5.501 16,401 300,700

D I8BO R8B M B JIT8 (O O O s Om U t e d . )
is e e

1895.

O d i-

im q. . . , ,

* ! * :
I
9.JN5? 6 ^ 8 5 l» U 9 j
E 10 3
11,710
673 0 |9 j
6S4
16.7^0 10.07$; 5,141
IZM?S m 8 H ; 2,m .t 1,115
458 1,119
13,68; U#80.i|
22,2?? 18 , 10 * 6,716
783
30, **8 12,%®*' 2,938
48?
U 671 1 1 . 1 8 6
45'
428)
46*
18.5-8 10.840 5.033|
83
3.197
1 4 .8 & m ? ©

16.433
l2i-> 4

March..
April..

M p**<
A n * - ..
O c t. .
Hot .

M%>. To«4jJ.
Fii/id |

ftom. !

n a ry,

23*33,7 ajaas

t
33,494
27.852

&%m
29,68

29.542
26,564

42,871
3H.I--S

27.• »
34,42
34,14

l l i s o , m .S S f t 128,684 36.64: i 9,11- l

2I.Bk
In ­ Oed’p.
fatal
s im t. terest, F und.;

O rd i- j Pen-

nary.
t

t

f
7.9S8
1,521
26C
5,520
1,751
29$
7.308

$

17,381
11.795
13,84$
15.4-4*
13,908
*1,181
18,185
18,437
13,316
17.434
12.815

10.054;
12,380
11,623
11.986
12,902
10,204 j
12,755'

1.84k
10 , 70a;

2't#

11,891
12.235

5,168
2 ,0 :9

T

1,414 35,93?
1,339 27.055
1,276 27.007
1,090
1,278
1,22*
971
04

34,080
29,83?
22.912
39,522
33.235
93; 25,255
599 35.092
l.OOr 28.2*8

164.13. I 2 » ,0 t0 33.15M I I 900 338,2 0

B o n d s H e l d b y N a t io n a l B a n k s — T he f o llo w in g i n t e r e s t ­
in g s ta te m e n t, ( u m is b m d by t h e C o m p tro ller o f th e C u r r e n c y ,
s h o w s th e a m o u n t o f eaotjt c la s s o f bon i s h eld a g a in s t n a tio n a l
bank c ir c u la tio n a m i to se c u r e p u b lic m o n e y s in n a tio n a l b a n k
d e p o sita r ie s o n N o v e m b e r SO.
U. B, Bonds 3,eld Nov, 30, 1890, to Secureof

: P u td ti Deposit*
in B unks.

Carrency 6«, Pac. K R ..
5
4
4
2

per ©# at*, 1894
per et*., funded
per eso ie, 1895
per eu~, funded

M onk
C irc u la tio n .

$ 0 7 5 ,0 0 0
5 3 5 .0 0 0
12,1 1 0 ,0 0 0
1 ,5 5 0 ,0 0 0
1 ,0 3 3 ,0 0 0

......
1907.
.......
1891.

Total,.

$ 1 0 ,3 9 1 ,0 0 0
1 5 ,8 1 6 ,3 5 0
1 5 5 ,5 3 0 ,9 ,’0
3 6 ,9 1 0 ,0 5 0
2 2 ,6 2 3 .8 5 0

and

E xpo rts

fo r t h e

$ 1 1 ,f 6 6 ,0 00
1 0 ,3 3 1 .3 50
1 6 7 ,6 4 0 ,9 0 0
3 8 ,4 0 0 ,0 5 0
2 3 ,0 5 6 ,8 5 0

$ 2 4 1 ,2 7 2 .1 * 0 # 2 5 7 ,1 7 5 .1 3 0

$15,003,001

I m po r t s

T otal B ela

W e e k ,— T h e f o llo w in g a r e

the im p o r t* a t N e w York for th e w e e k e n d in g fo r d ry g o o d s
Not. 20 a n d fo r t h e w e e k e n d in g fo r g e n e r a l m e r c h a n d is e
Not. 21 ; a ls o t o t a ls s in c e t h e b e g in n in g of th e fir st w e e k in
Ian nary.
FOSgtGX IMPORTS AT NEW YORK.

T ortetsek.

T o ta l . . . . . .
B i m s J a n , 1,

1894.

1895.

1890
$ 1 ,3 4 7 ,2 9 3
5 ,7 5 3 ,5 2 2

$ ,9 0 9 ,9 0 8
5 ,3 0 5 .1 7 5

* 7 ,1 0 0 ,8 1 5

$ 7 ,3 3 5 ,1 4 3

$ 1 ,1 2 0 ,0 0 2
0 ,4 1 5 ,8 91

$ 6 ,2 3 3 ,0 7 5

* 7 ,5 3 0 ,4 9 3

$ 7 9 ,2 4 0 ,0 4 6 $ 1 1 1 ,2 9 2 ,5 7 8
3 1 2 .1 7 8 ,7 1 2 3 6 1 ,3 2 9 ,1 8 9

# 9 8 .1 1 9 ,2 5 0 $ 1 1 1 ,3 0 2 ,1 0 3
3 0 5 ,3 2 9 ,5 1 4 3 3 9 ,6 0 0 ,1 3 1

o f n - f r ^

1893.

$ 1 ,1 1 3 ,8 2 5
5 ,1 2 1,150

T o u l 47 w eek# #A >3.44^.770 $ 4 7 1 ,0 5 2 ,2 9 4 $ 3 0 1 ,4 1 8 ,7 5 8 $ 4 9 2 ,0 2 1 ,7 0 7

The imports of dry goods for one week later will be found
In our report of the dry goods trade.
The following is a statem ent of the exports (exclusive o f
specie) from the port of New York to foreign ports for the
week ending Nov, 3 ) and from January 1 to date :

G r e a t B r i t a i n ..........
F r a n c e . ......................
G e rm a n y ........... . . . .
W est I n d ie s ...............
M e x ic o ........... .......... .
S o u th A m e ric a ........
A ll o th e r c o u n trie s .

$1,072,570 $ 4 1 ,6 3 3 ,7 2 4

Total 1896 ____

$ 1 ,0 7 8 ,7 6 4 $ 4 7 ,9 5 1 ,2 4 2
8 3 8 ,3 0 0 3 5 ,2 4 ^ ,5 9 9
63 1 ,3 3 0 3 1 ,1 8 9 ,1 6 3

T o ta l 1 8 9 5 .........
T o ta l 1 8 9 4 .........

1895.

1896.

[

1894.

1,771

S in c e J a n . 1-

Week.

GAS COMPANIES.

Bid; Aafch

GAS COMPANIES.

Bid.

170

175 "

102%
105
210
111
58
79 1
108 i n
ll

00

66

08

Auction Sales.—Among other securities the following, n o t
regularly dealt in a t the Board, were reoently so l; at auction;
By Messrs. Adrian H. Muller & Son:
Sonde.

Shares.
100 S ew Jersey Stearnb’t Co. G0"e
124 Bank of the State of N. Y.108
IS B’dway * 7th 4ve R R ..1 9 SI9
63 United States Print’g Co 20
•1 JPUeulx Ins. Co.................. 151
5 Central S at’l B a n t .....1 3 0 1*
100 Rutgers Fire Ins. C o ,..—123
43 Clinton B a n t .....................90
25 Norwood Ins. Co. of N.Y.120
5 Guaranty Trust Co — 415la
25 Br’tly n * ff.Y. Ferry Co.185
15 Herring-Hall Marvin Co ,
pref'd ($100 eaclij.,33% .3914
7 Title G u.r. & Trnsl C o..27414

$ 2 0 ,0 3 0 U nion F e rr y Co. 1 s t
m o r t .5 s ,1 9 2 0 . .M ,& N . .. .. .1 0 a
$ 1 0 ,0 0 0 O sw ego & S y ra . R R .
g n o o n s tr. 5 s, 1923. M .& S. 1 1 5
$ 5 ,0 0 0 S e w J e r s e y S te a n ib ’t
Co. 5e, 1921. M.&N................ 95^4
$ 6 ,0 0 0 N. O rle a n s n e w c o n s o l.
d e b t 7e. 1 9 2 2 ........................... 129k»
$ 5 0 ,u 0 0 S ta te o f V irg in ia d e ­
fe r r e d o e r tif lo a te s ........ .
8%
$ 2 . '0 0 E l y to a L ’d Co. g e n . 5s 4 3
$ 6 ,0 0 0 D ry D o ck E. 8 . & B a t.
R R . Co. 5a, s o rts , o f in d e b t­
e d n e ss ............. .............. l e i 1®&infc.
$ 2 ,0 0 0 S e c o n d A ve, R R . Co,
115 W a r re n R R . Co...................104
g e n . consol. 5 s ..............- —..1 0 7 %
Sonde.
$7,500 City of N. Y. Cent, P'k
$ 3 5 ,0 0 0 r e n t , o f G a. R 'y C o„
M ob. D iy ., 1 s t 5 s ,'4 0 . J .& J i 92 h s
5s, 1398. Q. F .......... 102*0 & int.
$ 5 ,0 0 0 T e rm in a l W areh o u se
$ .000 5t. Y. County Aasesst.
Co. 6s, 1042....... ....................: 82!&
Fund 7 s.1 9 0 (.
tin t.
$ 2 ,5 0 0 C o u n ty o f S p a r t a n - . .
*! ,500 Cltv o t S . Y . 6% B’dge
stock, 1905, M A S ___ 1 1 1 * tot.
b u rg , S. C., 6 s ____________ .1 0 0
$ 3 ,5 0 0 C ity of S p a r ta n b u r g , '
$5u0 Metropol. Gas Light Co.
g e n l 08, 1901. F &A.............1071,
8. C., 6 s . . . ........ ............ - . - 1 0 1

$ lin k in g

and

^ iim n c ia l.

Spencer

T rask

AH o th e r c m m trte * .

68,000

T o ta l 1 8 9 6 ........ .
T o ta l
T o ta l 1 8 9 4 .......

f3 2 ,8 7 0 8 5 1 ,2 1 2 ,0 3 7
J , 0.56,5 <% 8 3 ,0 1 1 ,7 0 1
2 3 ,0 0 0 8 5 .S 5 3 .2 7 4

$27,891 * 8 2 .7 4 9 ,0 2 5
e.O r, 2 5 .1 1 9 ,0 16
9 8 0 ,6 7 3 1 0 ,3 9 1 ,1 5 4

&

C o .,

B ANK ERS ,
JT A 2 9 P I S E S T R E E T ,
65 Stale. Street, A lbany.

INVESTMENT

S

amuel

FEW

YORK.

SECURITIES.

D . D avis &
BANKERS,

C o.,

MO. 30 W I L L ST,, MEW YORK.

S in ce J a n . 1.

$ .............. $ 4 3 ,0 7 9 ,1 7 7
8,» 4 2 ,4 9 8
1 0 ,901,918
8 ,5 5 6 ,9 2 0
3,603
5 .0 6 3
2 0 2 .7 98
1 ,2 2 2 ,4 0 6
18.2U5
©3,908

8

94,362:

$ 1 1 5 ,1 8 1 "$ 2 ,7 3 9 ,"5 li
1,663,341
2 8 ,9 4 3
1 2 ,535
1,580,26$

B'klyn Union Gas—Stock. 92% 93 Peoples’ (Jersey City)..
Bonds........ ........ .......... . 105 3* 1003* Williamsburg 1st 6s ...
Fulton Municipal 0&-...
165
Central.....................
Equitable.............. .
Consumers' (Jersey City). 70
Bonds, 8s, 1 8 9 9 ........
Bonds.......................... 100
St, P a u l........................
Jersey City & Hoboken.. 180
Bonds, 5s............ ....
Metropolitan—Bonds.. ... 105
242 250 Standard p r e f —*, ....
Mutual (N. Y. ...........
N.
& East Riv. 1st 5s.. 104% L05%; Common..............
Preferred ...................
78%IWestern Gas...... ......
Bonds, 5s........... .........
47
Common.......................... l l
97 I
Consol. 5s . . . — . . . . .. 95
NOTE.—Prices are mostly nominal.
} Ana accrued interest.

Im p o r ts .

.......... * 1 2 ,0 8 9 ,2 0 0
8 ,3 5 7 .5 4 1
27,002/> 6i;
888.201
3 3 ,3 7 0
62
2 ,8 3 7 ,7 1 7

1,388,99$-.

Gas Securities—Brokers’ Quotations.

EXPORTS AMO IMPOSTS OF SFiSOIR AT NEW YORK.

Week.

9,935>

3 5 7 ,8 4 0
8 6 8 ,4 9 0

Bid.
Atlan, Are., B’klyn—
D. D. 2B. B. & Batty—Stk.
Oon. §8, g„ 1931.,A<
§102 107 1st, gold, 5a, 1932. J&D
Impt, 5s, g., 1934..J&J
82*3
Bleek. S t.& F u l.F .-S tk . 29
31 EighthAvenu^Stoekir.
1st mort., 7s. 1900. J&J §105 109
Scrip, 6s, x914...........„.
Brooklyn Rapkl Transit.
22 42d& Gr. d t Fer.—Stock
B’way &7th Ave.—Stock. 198 201 42d St. Man. & S tN . Av.
1st mort., 5s, 19 04. J&B 104
1st mort. 8s, 1910.M&S
2d mort., 5s, 1914.J<fcJ 106
2d mor t. income 0S.J&J
B’w&y lst,5s,guar.l924 111 114 L ei. Ave. &Pav. Ferry 5s.
2d 5s.lnt.as rent’1.1905
105 Metropolitan Traction...
Consol. 5a,1943...J&D }ii 116% Ninth Avenue—Stock...
Brooklyn C ity-Stock....
174 Second Avenue—Stock..
Consol. 58, 194i„..J<fcJ i l l 3* 114
1st mort.,5s, 1909.M&N
BkJyn. Orosst’n 5s. 1908 100
Debenture 5s, 1909. J &J
BkPn.Q’nsCo.&Snh.lst 99 101 Sixth Avenue—Stock__
Bklyn.C.<ftN’wttwn—Stk 160
Third Avenue—S tock ...
§104^ 106* 1st mort., 5s, 1937. J &J
5a. 1939................. .
Central Crosstown—Stk. 200
Twenty-Third St.-S ttk .
1st M., 6s, 1822...M&N §109 111
Deb. 5s, 1903..............
Cen.Pk. N. <feE .R iv.-Stk, 155 166 Union By—S tock ...........
Consol. 7s, 1902... J&D 110%
1st 5s. 1942...................
Columbus <fc 9th Ave. 5s. 110i* 110‘s Westohesttr, lst.gu.,58.
Ohriuttp’r&lOth S t- S t k . 150 155
1st mort.,1 8 9 8 ...A&O 102
§ And aooraed in terest
x Ex-dividend.
4*

$7,171,500
330,088,182

The following table shows the exports and imports of specie
at the port of New York for the weekending Nov. *28 and
since January 1 , 1896, and for the corresponding periods in
1895 anti 1894:

G re a t B rita in . . . . . .
W m nm . —
G e r m a n y ___. . . ___
W*«f, I n d i r a ..............
M e x ic o ................... .

3 9 ,3 1 2
1 7 ,8 4 4
5 1 ,068
6,957

107,861

Total 4 7 weeks $34 >,839.749 $ 3 :0,39e,9D21$320,092,U5 $313,259,688

Bold.

$ 1 3 ,2 7 7
6 ,6 1 $

3 ,7 3 1 ,6 8 9
8 5 ,1 7 0
3 8 6 ,0 2 7

3 24
5 ,8 7 0

S in c e J a n . 1„

1893.

For
w m k .. [ $7»t 53.070
$0,054,127) $5,125,332
T ret* reported 342,886,67i» 301,942,865; 320.966,803

E x p o rts

W eek ,

City R ailroad Securities—Brokers’ Quotations.

EXPORTS FROM NEW YORK FOR THR WEEK.

j

Im ports.

S ince J a n . 1,

Samuel D. Da v is .

Chas. B. V an N ostkand.

G-KoaoE 11a fie 1.a v MoifffAT.

AnesAsnaii M. Wtirra. J n.

M o f f a t

& W

h i t e

,

BANKERS,
30

T I M E S T R E K T

INVESTMENT

-

*

MEWVOiAK.

SECURITIES.

THE CHRONICLE.

998
% h t

The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buying
1-16 discount, selling par ; Charleston, buying % discount,
selling % premium; New Orleans, bank, par; commercial,
SI 50 discount; Chicago, 50c. per $1,000 premium; St. Louis,
75c. per $1,000 premium.

J 3 a iifc je r s r d a ^ c t t o .
D I V I D E N OS.

frame o f Company.

Per
Cent.

When
Payable.

Books closed.
(D ays inclusive.)

R a ilr o a d s (S te a m ).
2
Dec. 31 Dec. 6 to Deo. 31
Boston & Albany (quar.)..............
1 Dec 7 to Deo. 12
3 k Jan.
Boston A L o w e ll............................
2 Deo. 17 to Dec. 20
1*9 Jan.
Chic. & E. Ills., pref. (quar.).......
. 2*9) Jan.
Cliio. & North W est, com----- —
6
1%)
do
ao
pref. (quar.).
Jan. 3
2
2% Jan.
Columbus HooTt. Val. & Tol.........
Jan. 15
Jan. 15
1
D enver & Kio Grande, p ref........
Eastern (N. H ) ....... -...................
lk! Dec. 15
2
Deo. 9
Dec. 10
L ittle Miami, quar. (q u a r.).........
6
4
Dec.
Lowell <Si Andover...................... .
Jan.
i
ik
Maine Central (quar.)...................
Jan. 3
Jan.
2
4
New York it H arlem .....................
i% D ec.
1
Portland & Kuinford Falls(quar.)
Jan. 4
Jan.
4
l
Southern By. p rel..........................
S tr e e t R a ilw a y s .
to
3
Dec. 31
Chicago City (quar ) ..................
Deo. 20
4
Jan.
1
W est End Street (Boston), p ret..
B an k s.
to
1
Dec.
6
Bank of the M etropolis.............. .
Jan. 3
2
2ia Jan.
W allabout (Brooklyn)..................
M is c e lla n e o u s .
Commercial Cable, quar..............
Jan. 1
Jan.
1
do
do
(extra)...........
4
Jan.
1 Dec. 11 to Dec. 31
Lamaon Consol. Store Servioe ..
Jan. 15 Jan. 1 to Jan. 6
1
Postal Telegraph Cable (quar.)..
5
Jan.
1 Deo. 22 to Jan 1
Quinoy B 8 . B ridge........................
Spirits Distributing, 1st p ref__ S I 75 Dec. 15 Dec. 11 to Dec. 15
4
Jan.
15 Dec. 25 to Jan. 15
United States Rubber, pref
1 Deo. 22 to Ian. 1
1 % Jan.

\*i

W A L L S T R E E T , F R ID A Y , DEC. 4 , 1 8 9 6 - 5 P . M.

The Money Market and Financial Situation.—There
has been an increasing demand for the better class of invest­
ment securities this week in Wall Street. This is no doubt
due in pqrt to the firm belief in conservative financial circles
that the good effects of the election are to be permanent;
and further to the very significant fact that the deposits in
the New York City banks have increased nearly sixty mil­
lions of dollars since Nov, 3.
The stock market has been strengthened somewhat by the
prospect of dividends on Southern Railway preferred and
Omaha common stock in the near future. This suggests
that the improvement which is likely to follow present con­
ditions will eventually change a number of stocks from the
non-dividend, to the dividend-paying list.
While there is an easier tone to the London money market
the rates are still high and a large part of the foreign exchange
offered in this market is bought and held by investors here.
The amount so absorbed is estimated in some quarters to be
from twenty to twenty-five millions of dollars. Notwith­
standing this, loanable funds continue to accumulate at this
center, and rates are near the minimum.
The open market rates for call loans during the week on
stock and bond collaterals have ranged from 1 to 3 per
cent. To-day’s rates on call were 1 to 2 per cent. Prime
commercial paper is quoted at 3% to 5 per cent.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £469,340, and the percent­
age of reserve to liabilities was 53 82, against 53-54 last
week ; the discount rate remains unchanged at 4 per cent,
The Bank of France shows an increase of 625,000 francs in
gold and a decrease of 1,950,000 francs in silver.
The New York City Clearing-House banks in their statement
of Nov. 28 showed an increase in the reserve held of $5,690,800
and a surplus over the required reserve of $31,411,825, against
$29,305,575 the previous week.
1896.
frov. 28.
C apital.................
S u rp lu s................
Loans & diso’nts.
C irculation.........
N et d ep osits.......
Specie....................
Legal ten d ers.. . .
R eserve held____
L egal reserve___

60.772.700
73.748.700
463.818.200
20.218.000
490,634,300
76.613.000
77,457,200
154.070.200
122.658,575

D iffercn'strom
Prev. week.

1895.
Nov. 30.

1894.
Dec. 1.

$

I n c .8,856,200
Deo. 113,900
Inc .14339000
In c. 437,600
In o.5,253,200
Iue .5,690,800
Ino .3,584,760

61,122,,700 61,622,700
72.889,,000 71.259.600
490,028,,800 499.460.100
13,961, ,900 11,161,000
520,788,,000 579,635,600
66,151,,500 76.527.600
82,658,,800 120.652.100
148,810,,300 197,179,700
130,197,,000 144,958,900

Surplus reserve 31,411,625 Inc .2,106,050

18,613,300 62,220,800

Foreign Exchange.—The market for foreign exchange has
been generally firm during the week. The demand from
remitters is limited, and the offerings are taken largely for
investment. Rates are a fraotion higher than last week.
To-day’s actual rates of exchange were as follows: Bankers
sixty days’ sterling, 4 83%@4 84; demand, 4 88%@4 86%:
cables, 4 87(84 87%.
Posted rates of leading bankers follow:
December 4.
Prime bankers’ sterling bills on London..
?rime commercial.........................................
Docum entary com mercial...........................
Paris bankers’ (francs).................................
Amsterdam (guilders) bankers.................
Frankfort or Bremen (reiohmarks) b’kere

fVoL. LXII1.

S ixty D ay8.

D em and

4 84k
4 83%®4 8 3 k
4 8 2 k ® 4 82%
5191616-51938
3 9 ‘5,0®4O
94l3)6®9415Ifl

4 8 7 k 3 4 88
518116® 5 1 8 k
4O3,p® i0l4
9 5 k a 9 5 9 ,„

United States BondB.—Sales of Government bonds at the
Board include $97,000 4s, coup., 1925, at 119% to 120; $20,000
4s, reg., 1925, at 119; $19,01)0 4s, coup., 1907, at 110% to 111;
$2,000 4s, reg., 1907, at 109 to 110; $1,000 5s, reg.. at 113% ;
$120,000 5s, coup., at 113% to 113%, and $4,000 2s, reg., at
96. The following are closing quotations :
In te r e s t
P e rio d s

N ov.

28.

Nov.
30.

Dec.
1.

Dec.

2

Dec.

3

2 b, . . . . ----------.req. Q.-Moh. * 95 * 9 5 k * 95 * 95 * 95 k
4s, 1 9 0 7 ..............req. Q .-Jan . 110 *x 109 *109*8 *109 *109
4s, 1 9 0 7 _____ ooup. Q .-Jan . *110*4 UOk) *110% *110*2 *110*9
4s, 1925............. req. Q .-Feb. *119 7s 11 9 7b U i9% *119% *119%
4 b, 1 9 2 5 .......... ooup. Q .-Feb. -119'S *11978 1 1 9 7S 120
120
5s, 1904..............reg. Q .- Feb. *113*8 •113*8 *113% * 11 3 *8 ‘ 1 1 3 k
5 8 ,1 9 0 4 ...........ooup. Q .-Feb. *1133fl 11318 113% 11338 *113%
6b, our’oy,’9 7. .req. J, A J. *102% *x99*« * 9 9 k * 99*a * 99*9
6s, cur’cy,’9 8 ...req . J, & J. *105 *x 102 *102 *102 *102
6b, onr’cy ,’9 9 .. .reg. J. & J. ‘106ks *x03% *104 *104 *104
4s, (Oher.)1896.reg. March. *1C2 *102 *10 2 *102 *10 2
4s, (Cher.)1897.reg. Maroh. *10 2 *10 2 *10 2 *10 2 *102
*102 *102 *10 2 *10 2
4 s , (Cher.)1898.reg. March. ‘ 10 2
*10 2 *102 *102 *10 2
4 b , (Cher.)1899.req. March. *102
* ThiB is the price bid at the morning board, no sale was mada

Dec.

4.

96
109
111
*119%
119%
1133a
*H 3k
* 99k
*102
*104
*10 2
*10 2
*10 2
*102

United States Sub-Treasury.—The following table «!'<"■ s
the daily receipts and payments at the Sub-Treasury during
the week.
Vale.
Nov. 28
“ 30
D ec. 1
“
2
44 3
“
4

Receipts.
$
2,216,061
2,952.168
2,113,668
2,258,171
3,058,393
3,807,683

Total 16,405,944

P aym ents.

$

Coin.

$

3,031,735'121,023.454
3,356,809 121,203,321
2,475.074 121,397,700
2,708,105 121,473,993
3,281,840 121,563,945
2,619,421 121,59(5,665

Balances.
Coin CerCs. Currency.

$

989,285
947.492
1,073,341
8 -*2,780
873,060
948,802

*

44,397,597
43,859,881
43, i 78,247
42,832,*-82
42.533,703
43,618,463

18,072,9341

Coins.- -Following are the current quotations in gold for
c o ids :

Sovereigns..........$4 86
Napoleons ......... 3 86
X X Reichm arks. 4 76
25 P esetas............ 4 77
Span. Doubloons. 15 55
Mex. D oubloons. 15 50
par
Fine gold b ars.

® $4 89
® 3 88
® 4 80
® 4 81
® 15 75
® 15 75
® * 4 prem

F ine silver b a rs... — 65*4® — 66*4
F ive fran cs............— 93 ® — 95 *«
M exican d ollars.. — 50^8® — 51^8
Do uncom’o i a l ..-------® — —
Peruvian sols....... — 4 5 * 9 ® — 47
English s ilv e r .... 4 80 ® 4 86
U. 8. trade dollars — 65® —75

State and Railroad Bonds.—Sales of State bonds at the
Board include $lo,000 Virginia 6s, deferred trust receipts,
stamped, at 7% ; $4,( 00 Virginia fund, debt, 2-3s of 1991, at
60% to 61%, and $5,000 No. Carolina special tax, W. N. C.
RR., at %.
The market for railway bonds has been moderately active
and generally steady, with the volume of business largest in
the speculative issues. The quiet demand for high-grade
bonds for investment, which has been a feature of the market
since the election, has continued through the week, and such
offerings are readily absorbed. Rio Grande Western bonds
advanced 2% per cent on liberal sales. The Reading issues
have been notably strong on the termination of the receiver­
ship. Brooklyn Rapid Transit 5s have advanced 5% per cent
on a large increase of earnings for the first four months of
the fiscal year. The active list includes Atchison, Ches. &
Ohio, Central of N. J., Chic. & No. Pacific, Rock Island. Erie,
St. Paul, Mo. Kan. & Texas, No. Pacific, Ore. Improvement,
St. Louis & S. F., San Ant & A. Pass., Southern Ry., Union
Pacific, Texas & Pacific and Wabash bonds.
Railroad and Miscellaneous Stocks.—Efforts to depress
the stock market during the early part of the week by oper­
ators on the short side were to some extent successful, and
the active list declined from about 1 to 4 per cent. The
effect was to bring some good buying into the market, and
this, with the covering movement which followed, has resulted
in a general recovery, and in many cases, particularly in the
railroad list, quotations are higher than last week. This
feature is most pronounced in Omaha, which closes at an
advance of 2% per cent within the week and of 6% per cent
within ten days, on the prospect of being placed on the divi­
dend-paying list. North West, advanced on the announcement
of the regular quarterly dividend on both the common and pre­
ferred stock and the more favorable condition of the Omaha
division. Lake Shore was strong on the publication of the
statement for the quarter ending September 30, indicating a
material surplus over dividends for the full year, and cl ses
at 155%, a net advance of 2% points. Reading is in demand,
as the management has passed under the control of the new
comnany. and its future prospects are considered good.
Southern Railway preferred has advanced on the announce­
ment that dividend payments will begin in January. Ail
the anthracite coal shares have been strong on the increased
demand for coal. Baltimore & Ohio declined 4 points to-day
on the publication of Mr. Little’s report.
With a few unimportant exceptions the miscellaneous list
has been relatively steady and featureless.

THE CHRONICLE.

D ecember 5, 189<J.]

999

SE W YOKK STOCK EXCHANGE-A C T IV E STOCKS fo r week ending DEO. 4L, and since JAN. 1, 1896.
HIGHEST A N D LOWEST PRICES.
S a tu r d a y ,
Monday,
S ot. 3 8 . : S o y . 3 0 .

14

U<4

Tuesday,
D ee. 1.

Wednesday, Thursday,
D e e. 2.

D ee. S.

Friday,

STOCKS.

D ee. 4.

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

Range for year 1896.
S a le s o l
th e
lO n b a sis o f zoo-share lot* , |
W eek,
H ighest,
S h a re s .
L o w e st.

8,0 9 5
14% 14%
13% 14% 13%
14%
14% 14% ' 14% 14% A t.T o p . & S .F e , a llin s ta l, p a id
8%. A ug. 7 18 N o v . 4
Do
p re f. 1 6 ,3 4 5 14% A u g , 7 28% F e b 2 4
23
23*3 2 2 % 2 3 % 2 2% 23% 23% 23% 23% 23%j 23% 23%
100
1 N ov. 20
%
%
*%
%'
%
%
*°8
% A tla m lo & P a c if lo .....................
‘V
%'
Vi
% J u n e 10
■H
%
5,715 10% S e p t. 2 4 4 J a n , 2 7
*16
1 7 : 12% 16 B a ltim o re & O h io .......................
1 6% 17 ; 16% 16% 517
17
* 17
IS
1,188 18 A u g . 10 25% ADr. 2 3
20 % 21 B ro o k ly n R a p id T r a n s i t ..........
20
20
20% 20V *20 2 1% *20 21%; 2 0 2 0 *55%
200 52 Jan. 4 6 2 V M ay 2 7
57 C a n a d ia n P a c liio .......................
56% *56
57
56
56 % *56% 57%
•5 7
5 8 V *56
4 ,1 2 0 40% A u g . 7 51% F e b . 10
48% 49% C a n a d a S o u th e r n .......................
49
50
49% 49%
*48
4 0 < 13% 43%. 43% 49
1
1
,2
5 0 87% A ug. 10 1 10 N o v . 4
C
e
n
tr
a
l
o
f
N
e
w
J
e
r
s
e
y
..............
H
u
1
03%
1
01%
104
:
103%
1
0
5
1
0
4
105%
:
1
0
4
104%
103 V 105
100 13% A ug. 22 16% N ov. 2 7
•1 5 %_ 16 i, 15% 16% C e n tra l P a o lflo ............................
*15
16
15
1 5 ‘ *15% 16
*15
IS
2 ,6 1 4 11 A ug. 8 18% N ov. 1 0
16% 1 6 16% 16%. 16% 16%: 1 8% 1 6 V
16 % 16%! 16% 17% C h e s a p e a k e & O h io ...................
7 §146 A ug. 11 1 6 4 N ov. 9
------ 182 *180 ......... *160 . . . . . . § 1 6 1
162 ;*160 .......... . C h ic ag o & A l t o n .........................
'1 6 0
.' >162
7 7% 73%
7 8 V 79%
77 % 78%
78% 79% C h ic ag o B u r lin g to n & Q uinoy 7 9 ,5 2 9 53 A ug. 7 83% N o v . 10
7 8 7 9 hi7 7 V 78%:
100 37% A ug. 10 4 3 J a n . 18
'4 1
50
A t ‘ 5 0 ! '4 1 5 0 | *43
50
C h icag o & E a s te r n I llin o is - -.
41
41 ! -4 1
00
*95 101 I *95 101 ! *95 101 I *95 101
Do
p re f.
*95
101
*95 IO I
9 0 A ug. 11 100% M ar. 5
. . . 74%
____. 7____
. ..
73% 7 5
7 4 % 75%
74% 75% 75% 75% C M cago M ilw a u k e e &. S t.P a u l 8 4 ,319 59 V A u g . 10 80 N ov. 4
74%
3 % 74%
1 27 117% A ug. 7 131 D ec. 4
Do
p re £ .
•1 2 0 % 1 30 ;)1 2 9 % 1 29% §129% 129% ; 130 1 3 0 t}X 29% 130% 131 131
7 ,5 0 6 85% A ug. 10 106% A p r. 23
104 3 104% 104 104% 103% 105
105% 106% ; 105% 100% 106 106% C h icag o & n o r t h w e s t e r n ___
100 140% A ug. 28 1 50 J u n e 3 0
......... .......... ...................... ...................... ...................... §151
151
___
...
Do
p re f.
69 % 70 : 63% 69% ; 69% 70% C h ie a g o R o c k ls la n a & P a o iflo 2 7 ,927 49% A ug. 7 74% F eb. 2 4
69% ; 97 % 69% '
69% 69% i S3
1
4
,835
48%
49%;
4
9
_
49%
;C
h
ic
ag
o
S
t.
P
a
u
l
M
inn,
&
O
m
4
7
49
|
'
30% A ug. 8 49% D ee. 4
45
46% ; 4 4 % 45%
i 4 4% 47%
2 70 1 17 J a m 7 1 29 D ec. X
*129% 132
pref.
*127 131 §
§ 128 128 1*126
2
,2
4
4
29%
30%:
30%
30%
;deye.
CineJta.
Chic.
&
St.
L.
29%
3
0
|
30
28% 2 9
19% A u g . 8 39% F e b . 10
30% 3 0 %j 3 0
219 7 3 A u g . 7 90% F e b . 2 0
■ 84
84
Do
pref.
1,625
17%
IS
Oolum
busH
ookingVal.
<
fc
Tol
18
18
12% A u g . 10 20% N ov. 1 0
18
18%
17% 17%
17 V 18 1 17% 17%
20 5 0 J u n e 22 6 0 J u l y 22
*50
60
Do
pref.
56
*o0
5 6 j •50
§55
55
•50
58
‘5 0
00
992
Delaware
&
H
udson................
114% A ug. 10 129% F e b . 11
§125V 1 2 5 V
125% 125% §125% 125%
680 138 A ug. 10 166 J u n e 5
Delaware Lackawanna* West
159% 159%;
137% 1 60 ! 158 159
200
4
12%
12%
D
e
n
v
e
r
&
R
io
G
r
a
n
d
e
.
1 0 A ug. 25 14 F e b
12% 12% *11% !2%
12%
• I l i a 12 Hu
639 37 A ug. " 51 F e b 2 4
44
Do
p re f.
42%: *43% 44 %j 43 % 43% , 4 4
§42% 42% ‘4 178 4 2 %
17%
N
ov.
9
1,3
8
2
•
15%
16
15%
16
E
r
i
e
.................................................
10% A ug,
§157» 15%
i5 % : 1 5% 1 5 %
5 50 27 J u ly 2 9 41% M ar. 17
35%; 3 5
36 I
Do
1 s t p re f
3 6 ! *35
30
*34% 3 5 % '■ME* 3 5 j
100
25
M
ar.
16
20
21%
*20
21
D
o
2
d
p
r
e
f
.
13 A ug. 6
*20% 21%)
22 ,
*20
22 ( *20
100 2 4 A ug. 15 34% F e b . 2 4
32
*29
32 E v a n s v ille & T e r r e H a u t e
*29
3 2 f •2 9
SO !
*30
3 2 I, 3 0
4 06 108% M ar. 13 1 2 2 N o v . 2 4
120 1 20 G r e a t N o r th e r n , p r e f . . .
122 122 | (120 123
•121 124 . *120% 120%
314 84% A u g . 11 98 J a n . 31
95 , 93
93 llL m o ia C e m ra f................
9 9 J *93
; §96
§9*% 0 5 ;
*m
9$
2 49
8%
*8%
8% I o w a C e n tr a l................................
5% A ug. 13 1 0 % F e b ., 7
a%: *g
7%
7%
f
8%
*8
8% |
1 14 1 9 A ug. 7 3 8 A p r. 2 3
30
'2 8 % 3 0 j
Do
p re f.
2 9 j *28
27
1 20
>•29
2 9 1 §27
'1 8 % 20 !L a k e E r ie & W e s te rn ..............
12% A u g . 10 22% F e b . 5
1 *18
2 0 J 18% 2 0
*18
2 0 I " IS
20 |
55% A ug. 8 7 5 F e b . 7
71
71
71
Do
p re f.
§71
71 I §71
71
*70
71 i *70
134% J a n . 7 155% D e c. 4
154% 1 5 5 % :L a h e S k o re A M ic h -S o u th e rn .
[ 152 152% 152 1 5 5
1152% 152% >150% 1 5 2 ’
5 4 N ov. 30, 8 4 J a n . 7
**-*»..* 5 6 i’ .......... 56 -.*.......... 5 6 :L o n g I s l a n d ......................... ........
54
5% 1 5 4
50%
5 0% 51 L o u isv ille A N a s h v ille ..............
37% A ug. 26 5 5 V F e b . 2 4
| 50% 50%! 50
49 % 49 %f 4 8 % 49%;
% N ov. 25 10% F e b . 18
-%
%
'%
%
L
o
u
lsv
.
N
e
w
A
lb
a
n
y
&
C
liio
..
I
%
%
V%
%
1 N ov. 25 24% F e b . 13
1% 1%'
1%
1 % !..
Do
p re f.
1%}
*1 %
1%
1%
i%
i %i
0 5 % 0*7*4 Yirtfi**, ft?!.-. M a n h a t t a n
nnnanl
73% A ug. 1 3 113% F e b . 11
* 95
95%
95 % 0G%{ 9 4 % 0 0 %1
2,2 3 7 79% A u g . 10 1 1 4 N ov. 18
] 1 1 0 110% 1 10% 1 1 4 §110% 1 1 0 V M e tr o p o lita n T r a c tio n ............
109% 109%, 108 108% ■
110 89 A ug. 28 97% F e b . 11
42% 92% ' ...................... M ich ig an C e n t r a l .........................'
§91
91 j
130 1 2 A u g . 21 21% F e b . 21
•19% 20%i 19% 19% ,M in n ea p o lis & S t L o u is ..........
19 ; -1 9 % 2 0
*19% 20%; *19% 20% §19
51 A u g . 8 83 F e b . 2 1
78
*76
78 I
Do
le t p re f.
7 8 1 •76
7 3 1 *75
78
*76
70
77%: *76
4
00 3 0 A u g . 10 53% A p r. 22
4 9%
49
49
Do
2d p re f.
4 8 1 *4*
49 | 4 8
4 7% 49
*47
' 47% 49
2,0
4
0
9% A ug. 6 14% N ov. 10
13%
18%
*13%
I
t
M
ls
s
o
u
rlK
a
n
s
a
s
&
T
e
x
a
s
........
1
3
V
;
13%
137
13%
13% i3 % : *13% X3%
6 ,4 2 0 16 J u ly 20 31% F e b . 25
2 8% 2 9% 29% 2 9 V
Do
p re f.
£ 9 1 28% 29%
28
28% ' 2 8
28% 2 9
6,353
15
A u g . 7 29% A p r. 2 4
22%
22V
22%
22%
M
isso
u
ri
P
a
c
in
o
...........................
22%i
2
2
%
j 22%
32% 22%
2 1 V 22
21%
25 14 A u g . 10 25 Jan. 11
*22
23
*22
23 M o b ile * O h io ...............................
23
§22
22 I *12
*22
2 3 | §22
2%
§70 O ct. 2 §70 O c t. 2
.
. . : ...................... 'N a s h v .C h a tta u o o g a & S tL o u is
§20 A ug. 14 51% J a n . 28
• . . . 4 5 % ;* ..___ 45% ;N ew E n g l a n d ..............................
45% ■
45%
* .:” "
i»% * .„•!!! 45%.
2,3 2 7 88 A u g . 6 99% F e b . 1 0
9 5% 95% N ew Y ork C e n tr a l * H u d so n
94
94% '
94% . 94 % 94% j 94 % 9 5
•9 4
95
650
9 A u g . 11 15 J a n , 2 2
*12% 12% *12% 12%: 12% 12 % : 12% 12%! 12% 12% *12% U iV N e w Y o rS C h io a g o * S t . L ouis
67% J u ly 28 8 0 J a n , 2 2
73
*70
75 :
DO
Is tp re f.
*70
8 0 | *70
50
*70
90
*70
SO ;
200
2 0 A ug. 10 35 V A p r. 13
I *27% 29 %!
Do
2d p re f.
23 | *27
*27
3 0 ; *27
3 0 1 28
*27
30
62 1 60 J u l y 23 1 8 6 F e b . 1 0
179 1 7 9 " 1 7 8 1 81 (New Y o rR N ew H a v e n * . H a rt.
1 8 2 §180 180 §181 181
'I S O
183 • i m
2,443
11% A u g . 10 16 V N ov. 1 0
15% 1 5 V 'N e w Y o rk O n t a r i o * W este rn .
15% 15% i 15% 1 5 % 15% 1 6
15% 15%
15% 15%
650
6 A u g . 11 11% Jan 31
: '9 %
1 0 N ew Y ork S u a q .* W ea t.,n e w .
*9% 1 0 | *9 % 10
9%
10
10
10
10
3,8
1
0
12 A u g . 8 31% F e b . 6
27
27
12 7
27 1
Do
pOil
re f.
2 8 % 26%
3 5 % 28%
■17
27
86
26%
t% A p r. 29 12% N ov. 1 0
N
orf.A
W
e
s
te
rn
,a
ll
in
s
ta
l.
pd.
11%
11%
*11%
11%
10% 11% 11% 12 , „ -------•11
11% *10% 11%
500 t4% M ay 8 19% N ov. 1 0
D o p re f.,I r.n tl’a .a ll in s.p d .
*17
17%
17% 17% *16% 17%!
18
1‘
*16% 17% *lrt% 17%
2,6
3
5
t% M ay 23 16% N ov. 9
N
or.
P
a
o
.,
a
ll
in
s
ta
lm
’t
p
a
id
.
14%
15%
13% 14% ! 14% 1 4 V §14% 14%
14% 14%
*14% 15
9 ,2 4 0 tlO A p r. 16 2 8 V N ov. 1 1
D o p re f.,a ll in s ta l. p a id .
2 4% 25%
2 4% 24% l 24% 24%
24% 2 4 V 2 3% 2-4%
4
,5
1
3
3
3
N ov. 3 0 3 6 N ov. 1 4
D
o
n
e
w
p
re
f.,
w
h
e
n
is
s
’d
3
3%
34%
3 4%
34
3 3 V 33V
33
33%. 33
*15
24 O r. H R . * N a v .C o . v o t.ir.rtfn .
2 4 ! ‘ 15
25
n§
24
*12
*12
24
*11
25
398
4
0
D ec. 2 40% D ec. 2
D
o
p
re
f.,
v
o
t.
tc
u
s
t.e
tfs
.
§38%
4
0
40% *39
40%
41 j 40
*37
*37
-It
*m
u
29% 29%: PhiSa. * Reading all Inst. pd. 7 9 .7 8 2 12% J a n . 7 31% N ov. 10
29%
29
29%
27% 2 8 V
27% 2 9 %| 2 9
28% 2 8 V
11
A
u g . 7 18% F eb. 7
7
05
141
s
14
%
Pittsburg
Cinn.
Ohio.
&
St.
L
.
13 t 14% 14%
15
14
i i % 14% 414
• 14% 15
40% A ug, 12 59 F e b . 2 7
D o"
p re f,
55
5 5 i *49
55 |
*40
■55
%
•so
as
*50
55
1 6 F e b . 8 18% F e b . 1 0
R io G ra n d e W e s te rn ..................
•***’■*i
1 08 S e p t, 15 1 1 8 Jan. 3
R om e W a te r to w n & O g d e n s b .
• il3 %
*113** 113% * U 8 %
* u : ’i” 113% 4 1 3 * 4
•11 3 %
53 A u g . 14 60% Jam 3
62 St. L o u is A lt. & T . H .,tr.re o ts
6 2 I *57
62 ! *56
02** *56
*58
*m
62
*58
82
5% F e b . 7
604
2 7e A u g . 10
4% 4% S t. L o u is S o u th w e s te r n ............
5 |
4%
4%
5 j *4%
*4%
*4%
S
•4%
5
1 ,0 6 0
6% A ug. 7 1 3 F e b . 2 6
D
o
p
re
f.
*10% 11% 10% 10% 10 10%: §10%
105 15 S e p t, 16 27% F e b . 2 4
21 1 m
*20
£4 ! 23
2 3 j *20
,75 O o t 14 91 F e b . 1 0
'. I T
8 7 I *75
87 I
Do
p re f.
87
87 \ *80
*30
8 7 . *80
8 7 I *80
50 L05 A ug. 11 1 15 Jam 1 4
111 1 1 4 “H I U 4 S t. P a u l M inn. & M a n it o b a ...
*111
113%
*112 115 112 115 1113%
1,880 1 4 N o v , 6 22% J a n . 1 4
.
K>%
15%
18%
16%
16%,
S
o
u
th
e
rn
P
aolflo
C
o...............
I 15%
15% 15V 15% 15%, 15% 15%
6% A u g . 7 11% N ov. 10
6,811
10% 1 0 V
1 0% lO V IS o u th e rn ,v o tin g tr u s t, e e r tif.
10% i 10% 10%
10
10 10
9% 9% __
- 8 0%
go % 31% D o p r e f .,v o ti n g - tr u s t,c e r t. 4 2 ,519 15% A ug. 8 33% F e b . 2 5
28% »*)%' *7 % 2 s %
2 7 % 2 9%
2«
29V
28V
2,3
3
5
5 A ug. 7 1 2 N ov. 1 0
10% 10%T e x a s * P a c ific ............................
9%
9V
10 10
10
0%:
0%
§#%
»%
&V
3 2 J u n e 8 35 M ay 6
20
35 T o led o * O h io C e n tr a l..............
3 5 ) *20
35
35 | 20
3 5 : *20
3 5 t. *20
.
7
5
A pr. ~ 75 A p r. 6
■50
75 !
Do
p re l
7 5 ! *50
75
75 ; 50
7 5 ! *50
12% N ov. 4
75
50
*50
3% J a n .
9%
9%
9 V 1 0 : 10% io % 1 0 n lo n P aolflo t r u s t r e o c ip ta .. | 11,997
07g|
8%
5% F e b . 13
9
0%5
9%
9%
1%
A
u g . 29
200
%
2%) O n io n P a c ific D e n v e r & G u lf. I
"""
2% 2% 2% 2%: •2
2 %:
*2%
3
8 N ov. 9
3 , *2 %
*2%
660
4%
A
ug.
7
*7
7%:
W
a
b
a
s
h
.........................................
7%
7%. §7
7%.
7 %:
7%
i 19% F e b . 2 a
7 j *0 % 7%
7
1
1
A
ug.
7
3
,2
9
5
16V 17 '
Do
p re f.
18% 17
16%; 1 6 V 16%
10
10
16%
15% 16%
5% A ug. 27 13% F e b . 1 4
8,023
gag
8%
’
W
h
ee
lin
g
&
L
a
k
e
B
r
i
e
.
.
.
.
—
8% 8% 8% 8%
; *30% 33 i
8% !
8
8%:
7%
8%
8%:
155 2 0 V A u g . 8 40 % F e b . 13
*
Do
p re f,
4% F e b . 2 4
32% 34 1 31% 31% *30% 3 4 : §30% 32% *30% 322
1% A ug. 21
200
W
...............Wiso. C en .O o ., v o tin g t r . o tf s .
2%
2 | *2
3 1 *1% 3 1 2
1%
i M ie c e lla u c o a s S to c k # .
8 J u ly 20 1 9 J a n . ?
200
*14%
15
i
*14
15
(A
m
e
ric
a
n
C
o
tto
n
OB
C
o—
.
.
15
15 i *14% 1 5 : *14% 15
15
15
861 3 7 A ug. 10 69 F e b . 1 1
57
5 6 ; ‘ 51
5 8 ! *54
*51
6 0 1 *54
4% A ug. 7 14% NoV. 19
*13% 14%
13% l i * 3 A m e ric a n S p ir its M fg. C o .. .. 47,837
13
14
12% 13% 12% 13%
13% 13%
5,207 15% O c t. 20 33% N ov. 2 5
30% 31%i
31
31% 3 0% 3 1 V
3 1 V 32%
9
5 A ug. 10 126V A p r. 21
1
7
6
,0
8
0
1 17V i H % l l j v m v 1 1 5 V 117% 1 1 6 ? 117-V. l i a S l l & j 115% l i p ! t o e r i c a n S u g a r B e ftn in g C o .
511 92% A ug. 8 105% J u n e 1 2
*102 1 01 §108% 103 -1 0 2 % 104 §102% 103%: 104
8,7 8 4 51 A ug. 10 9 5 A p r. 2
7 0 % ? ! 17 6 ^ l l 76*l 1? 6 % !A m e ric a n T o b a c c o Co.
7a s
75% 78 7 4 % 7 5 %{ 74 V 7 8 §102
1,828 95 A ug. 4 105 N o v . 6
Do
p re f.
\
101
101 101 101 101 101
1 8 4 4 V A ug. 8 78% N o v . 7
76V ! 7 6 V 77% C hicago G a s Co., c e rts , o f dep. 6 47 ,4
7 5 % * 75
7 1 % 74%1 7 4
7 2 V 78% : 7 1% 72%
,1 6 6 133 A u g . 10 16 8 N o v . 2 4
C o n so lid a te d G a s C o m p a n y ..
1
6
1
V
1
6
4
%
!
162%
163
161%!
160
39% M ar. 13
160 161% x l5 7 159%=
G e n e ra l E le c tr ic C o .................. 14,702 2 0 J u ly 16 28 V A p r. 2 1
31%
80
29% 3 1 V
31V
1,373 1 6 A u g . 10
N a tio n a l L e a d G o ......... .........—
25
2
4%
25
*24% 2 5%
545 75 A u g . 27 92% N ov. 19
8 8 V 89%i *83% 89%
Do
P ro f
6% F e b . 24
*%7 % 8 9 ; §87% 87%: 884
3% A ug. 7
1,550
j
s
*
1
g%
5%
:N
o
rth
A
m
e
rto
a
n
C
o......
...........
5%1
5%
(
5H;
5%
5%i
4%
4,975 15% A ug. 7 3 1 F e b . 10
26
2 6 V P a e itto M a il..................................
26% j 25'-! 2 5 V
26
35 H 25% ' 2 5% 2 8 h
10"> °
8H 0 6
..........! P ip e L in e C e rtific a te s ................
*105
't 05
>105
''7 5 5 13 8 ” A ug. 7 ie i” Feb.'ll
157 157%! P u llm a n P a la c e C a r C om pany
157 1 5 7 ” | 1 5 6 157
H.57% 157% §156 1 5 0
62% N ov. 4 7 0 F e b . 2 4
65%
65%;
-6
5
V
85%
S
ilv
e
r
B
uU
ion
O
ertifliM
tea..-,
?
8
5
%
;
34% F e b . 1 0
*
0
5
1
'6 5 % 05% [ *05% 85%
- - : 29
29% T e n n e ss e e C o al I r o n & R R ... 1 2 ,966 1 3 J u ly 20
2 8 1} 29%: 28% 20%
7% N ov. 13
| 2 7% 29
28
3% A ug. 7
2,4
7
0
6%
6% U .8 .0 o rd .0 o .,tr.re o .a il in s.p d .
6
%
8
%
:
1 4 V N ov. 1 3
0%
8*
6%
6% A ug.
6>*
7 40
8H
0%
., t r . re c , a ll in s . pd.
11% F e b . 8
12%: *11% 12 At 29% 129% U n itePd r.Se ftates
12
m
5%
J
u
ly
16
2.8
1
2
1 2 V ' 1 2 V 12%
L e a th e r C o .- ...
0%
9%
fL
9 Vi
*9 %
0%
W‘*
1 9 ,156 41% A ug. 10 69% F e b . 1 4
9 >4
62V
Do
p re f.
1% » 2 •» 61% 62%! 01%
59%- e o v
5 9% 6 1 V 6017 ,2 5 4 14% A ug. 8 2 9 J a n . 13
2 5% 2 6 U n ite d S ta te s R u b b e r C o .. . . .
2
5%
2
3%
25%
2
V
21% 25%
9 9 0 65 O ct. 12 89 J a n . 15
3 tV 25% 1 2 5
-8 0
82
Do
_ _
P ref81
*
at i 8 0
«i
81
s i V 81
3
5 ,2 9 7 72% A u g . 10 90 % N ov. 11
86% 37% W e s te rn U n io n T e le g ra p h .
3
5
%
3
7
I
87 V
96
97
9 6 V 1 86
86
t B e fo re p a y m e n t o f a n y In s ta lm e n t.
A ll In s ta lm e n ts p a id .
D ess t h a n 1 0 0 s h a r e s .
T h e s e a r e b id a n d a s k e d ; n o s a le m ad e.

THE < HRONIOLE

1000

[V O L . L X I 1 I ,

VO It K ST O C K E X C H A N G E P I U C E S ( C i m t l a a e d ) - I N A C T I V E S T O C K S .
Dee. 4.

IN A C T IV E STO C K S,
f. I n d i c a t e s n u l l s t e d .

R a ilr o a d S to c k s .
.10<
-1(X
.1(H

B o sto n & »•
Buffalo Rooh
Preferred.

.10;

Ckloaeo Great W estern.

Ask.

Bid.

.lo t
.10;

I Range (tales) in 1896.

175
170 July
9
10% 6% Aug.
J23
17 “a Aug.
5
7 Feb.
io*
102 105 100 Oot.
10
Jan.
121
{59% 60
51 May
68
70 Mar.
15*
4 O ot
36 Aug.
160
155 Jan.
9
9% , 5 Aug.
53
..... 1 51 Apr.
5% 3% July
4%
9
10% 10% Apr.
43
50
44% Nov.
13 Feb.
30 Nov.
5% 8
6% May
3
4
2 Jan.
13
15
12 July
6% Aug.
7% 9
% May
1%
l*
162ia 167 1150 Aug
117
100% Aug.
63 %Sept.
65%

183ie May
1 1 * Feb.
2 9 * Feb.
7 Feb.
102 May
25 May
62 * May
70 Mar.
1038 June
54i* May
162 May
9 * June
60 June
6 Jan.
1414 Feb.
50 Feb.
16 Feb.
43 Feb
8 Jan.
3 * Mar.
18 Feb.
12 Feb.
2i8 Feb.
1669* Feb.
120 Jan.
70 May

O llnth 80. 81iore & A tlantlo T|. IOC
Preferred II................................. 10c
K van sville & Terre 11. p ref....... 5<
S lot & Pere Marquette............1 0 (
Preferred__________ _______10(
•Kanawha & M ichigan................ lot
ffieokuk & D es '‘to m es................10i
Preferred................................ ..IOC
Merloan C en tra l............. ......IO C
M exican National tr. o tfs.........100
Morris & E s se x .............
50
W. V. Laok. & W estern............... 100
Horfolk & S ou th ern .................1 0 0
Ohio Southern..............................’ !»'■
15
O r.Sli Line& U.N.tr.rec ,all pd.100
3% Apr. 18i8 Nov.
2
1 %June
3 78 Feb.
Peoria Decatur & E v an sville.. 100
5
7 * Nov.
Peoria & E astern--------------3 Jan.
150 Aug. 1 6 2 * May
P itts. F t W. & Clilo. guar......... 100 160
2 0 * Jan.
17 Jan.
P itts. & W est pref......................... 50
i?2" 186 181 O ot 182 Feb.
S snsseiaer * S a r a to g a ...........
Bto Grande Western p ref-------100
39 Jan.
46 k Feb;
5i* Dec.
5% 5 Deo.
S t. L. & San Fran, von. tr. otfs.. 10 > t5
! 36% Deo. 3 6 * Dec.
1 st pref. vot. tr. otfs ...............100 138!4
1 4 * Deo.
2d pref. vot. tr. otfs.................. 100 Hi
1 4 V 13 Dec.
51* Apr.
....... I 5 Feb.
Tol. S t I*. & Kan. CityH............. 100
Preferred — . . . . . . . . . -----...1 0 0 I
* No price F riday; latest price this week.
J Actual sales

Dec

I nactive Stocks.
f[ Indicates unlisted.

Highest.

Lowest.

( \ I n d i c a t e s a c t u a l s a l e s .}
4.

T U ftcella n eo tift S t o c k s .
American Bank Note Co If . . .
American E xpress....................... 100
Amer. Telegraph A Cable......... 100
Bay State Gas IT .................. . . . 50
Brooklyn Union Gas.................... 100
Brunswick Com pany.................. 100
Chic. Juno. Ry. & 8tock Y ard s.100
Colorado Coal & Iron D e v e l...l0 0
Colorado Fuel & Iron .................100
P referred ......................
lo o
Col. & Hock. Coal tr.rcts.3<l,pd. 100
Commercial Cable........................100
Consol. Coal of M arvland......... 100
Edison Elec. 111. of N. Y ............ 100
Edison Elec. 111. of Brooklyn.. 100
Erie Telegraph & Telephone ..1 0 0
Illinois S teel.................................. 100
Interior Conduit & In s............... 100
Laolede G as....................................100
Preferred..................................... 100
Maryland Coal, p ref.................... 100
Miohigan-Peninsular Car C o.. .100
Preferred..................................... 100
M innesota Iron ............................1 0 0
National Linseed Oil Co............. 100
National Starch Mfg. Co............100
New Central Coal..........................100
Ontario Silver M ining................ 100
Oregon Improv’t Co. tr. r e e ls .. 100
P ennsylvania Coal...................... 50
Quicksilver M ining...................... 100
Preferred.....................................100
Standard Rope & Twine C o__ 100
[Tennessee Coal & Iron, p r e f... 100
1'feXcis Pacific Land T rust......... 100
U. 8. Cordage, guar., tr. certfs.100
U. 8. E xp ress........... .................... 100

US
41
1109
90
110%
192%
1
{25

*

5
{169
34
100
!6I
{48
121 *
{77
50
60
15
6
6
9
300
1%
10
111%

Range (sales) in 1896.

Ask.

Bid.

Highest.

Lowest.

152 135 Aug
43
1 1 2 * 105 Aug.
9 1 * 78 Aug.
10% 7 Oct.
7 5 * Aug
* Feb.
iU
86 Aug.
i
* July
145s Aug.
90 May
5%
3s July
1 6 2 * Apr.
39
30 Mar.
89 Jan.
104
. . . . . 96 Sept.
58 Oct.
48% 33 Aug.
35 Feb.
2 2 * 17 July
70 Dec.
60
15 Nov.
58 Nov.
63
40 Aug
1 6 * 13 Aug.
7
4 * Jan.
8% 5 Aug.
11
8 Jan.
1
* June
320 Apr.
2
13a Apr.
14 June
12
n % 1 1 * Dec.
5
12
35
80

2 4 * 26
40
45
97 100

154

Nov.

116 May
97 May
33 May
96 Nov
1 * Nov.
101 Nov
4*8 Jan.
3 4 * Feb.
98 Feb.
5 * Nov.
169 Deo
3 2 * May
1 0 0 * May
1 0 0 * Nov
6 Deo.
75 Apr.
35 Feb.
30 Apr
8 6 * Apr
15
60
72

N ov.
Feb.
Feb.
2 1 * June
7 * Nov.
8 78 Feb.
15 Mar.
4 * Jan.
340 June
2 * Nov.
14 June
12 * Nov.

Jan.
8*
Aug. 28
Aug. 48
Aug, 101

Nov
N ov
Apr
Feb

NEW YORK STOCK EXCHANGE PRICES.—S T A T E BO ND S DECEMBER 4.
SEOURITIEB

B id

Ask.

^Alabama—OlaBB A. 4 to 5 . . . . . 1906 102
vd&SB B, 5 b . . . . . . . . . . . . . . . . . . 1 9 0 6 102
Class C, 4 s ................................1906 95
94
Oorrenoy funding 4 b......... ..1 9 2 0
A rkansas—6s, fund. H oi.1899-1900
do. Non-Holford
7s, Arkansas Central B R ___ ..
ILoniBlana —7 s , oon s............. j.914
Stamped 4 e............ ................ .
SewoonolB. 4 e .................
1914 96

93

SECURITIES,

Bid.

Missouri—Fund.............. 1 8 9 4 1 8 9 5
North Carolina—6s, old...........J&J
Funding ao t............................. 1900
New bonds, J & J ......... 1892-1898
Chatham R R ...................................
Special ta x , Class I .......................
Consolidated 4 s ......................1910 100
6 s ................................................ 1919 119
South Carolina—4%s, 20-40 .1933 100
6s,n on -fu n d ............................. 1888

New York City Baok Statement for the week ending
JJTov. 28 1896. We omit two ciphers {00) in all cases,
banks .
i00 b omitted.)

iiSank of New York..
SManhuttan Co.........
Merchants’.............
Mechanics’.............
America..................
Phenix....................

Specie.

Legate. Deposits.

$ 2, 000,0 $1,853 ,6 $12,310,,0 $2,180,0

$1,500, $12,310,0
2,055,
15.100.0
570,
11,182,6
1,583,
7.586.0
15.507.9
2,119,
782,
3.725.0
2,209, 28,888,3
396
1.082.7
3,651,,8 22,043.0
581, ~ 4,396,5
818
4.707.0
138
1.213.5
440
2 . 210.0
827,2
126,
414,
2.075.3
1.811.6
200
2.411.9
575
3,600
16.818.0
2.942,
16,245,5
459,
4.010.3
1,541
7.318.9
2.930.2
798
1,392
11.400.7
1,075.
5.690.3
508,
2.828,1
724,
6,028,5
2,422
18,812,0
576,
2.703.0
531,
3.065.0
586.
2.893.8
5.003.9
. 1,277,
483
3.402.8
872
9.152.9
807,
5.203.2
472
1,720,8
5,009,
22.551.0
8,015, 30.008.9
245,
1.183.2
2,700
19.709.7
2,440,
9.383.0
902,
5.096.0
887,
3.642.0
1,783
20.119.0
800
8.096.4
155
1.224.3
684
3.308.0
230
3.084.1
446
2.452.7
1, 020 ,
17.882.0
776
7.391.3
718
3.115.4
561
4,078,3
407,
5.334.8
1,852.
7.050.5
436
4.419.5
258
1.693.0
731,
5.191.2
392.
2.145.0
989,
8.121.0
194
1.310.0
2,70 J.3 12,204,7
983
6.982.0
56b,
7.988.8
397,
2.322.9
271
3.008.6

Capital S u rp l’s Loans.
2.050.0 2,083;
998.
2 , 000,0
2 , 000,0 2,167,
1.500.0 2,404
1, 000,0
347,
1, 000,0 3,557,
750.0
80,
300.0 7,434,
176
600.0
1,000,0 1,624
300.0
200 ,
400.0
313,
200.0
176,
492
600,0
300.0
97.
525,
1 200.0
5.000. 2,527,
0
5.000. 3,589
0
1.000 . 0 1,598
1, 000,0
978
422,7
483,
1.500.0
868
450.0
967
200.0
262
700.0
583,
1, 000,0 2,053,
500.0
346
600.0
381
282
500.0
600.0 1 .011 ,

13,<j64 " 2,411,0
9,826
2.549.8
8,398,
1.107.0
13,850,
2.223.0
169.0
4,001
21,889
9.664.3
es men’s ...........
2,038
186.3
'Chemical...............
22,405,
3.344.0
3,826,
Merchants' Exoh’ge
752.1
6.320
(Stailatiii National...
512,9
Batchers &Drovers’
1,354,
178.4
2,050
Mechanics’ <&Trad’s
190.0
930,
Greenwich...............
101.4
2.620,
Leather Manufac’rs
213.6
1,499
Seventh National...
249.2
3,113
Stateof New York..
129.5
22,843
American Exchange
1.279.0
21,900
Commerce...............
1,623,6
5,651
Broadway...............
876.8
593.2
7,439
Mercantile..............
2,042
Pacific..............
412.2
10,399
2.202.1
aepublio.................
5,761,
624.7
Chatham..................
1,706,
267.3
People’s ..................
855.7
5,873
.North America......
14,523
Hanover................. .
4.598.0
2,762
irving.....................
221.5
2,470,
481.6
(Oitiaen'e...................
2,174
Nassau.................... .
206.6
5,417,
Market A F ulton...
541.9
100,
3,240,
<Ihoe A Leather....... 1, 000,0
410.7
8.432
1.287.8
•Dorn Exchange....... 1, 000,0 1,199
230,
4,603,
556.2
Continental.............. 1, 000,0
300.0
397,
1,712,
Oriental — ..........
139.7
SlmportersATraaers’ 1.500.0 5,500, 20,259,
2.858.0
20,978
5.231.3
Park........................ 2,000,0 3 212
250.0
1,162
137,
131.7
East River..............
2.836.2
Fourth National.... 3.200.0 2,040. 18.974
618,
8,052
1.165.0
Central National__ 2 , 000,0
300.0
4,755
644.
861.0
Second National....
750.0
3.036,
303.9
333,
Ninth National.......
500.0 7,20o. 21,849, 3.489.3
First National........
244.
7.547.
1.420.1
'S’blrd National........ 1, 000,0
1,360
154.2
68 .
300.0
R Y . N a t Exchange
Bowery....................
250.0
588,
2.683
408.0
2,64 ,
472.1
423
200.0
New York County..
275,
750.0
2,648,,*i 232,9
German American..
500.0 1,445,,2 15,911,,7| 3,936.7
■Chase National......
100.0 1,136 ~ 6,735 ,2 1,161,4
Fifth Avenue. ....
605,
200,0
2,5*2
German Exchange..
200,0
666
200,0
Germania.................
505.4
3,087
534,
500.0
1.024.9
4,928,
United States.........
617,
300.0
6.739,
Lincoln.....................
765.8
700,
3,845
685.0
Garfield....................
200.0
1,661
308
200,0
199.1
’fifth National........
808
4,23a
707.9
300.0
Bank of the Metrop.
199.0
2,048.
313
200.0
W est Side............ .
279,
5,058,
838.0
500.0
Seaboard.................
329,
Sixth National........
1 0 0 .0
200.0
1,640
367,
12.314
Weeie-n National.. 2 . 100.0
558,0
5.041
927,
047,8
300.0
First Nat. Br'klyn..
538
8 .088,
N a t Onion Bank.... 1,200,0
1.412.3
2,343.
220 ,
500.0
Liberty Nat. Bank.
210.4
341,
R Y Prod. JCxch'ge. 1,000,0
641.4
3,528.
Total ................. 60.772,7 78.748,7 463,818.2 76.6*13.0 77.457,2 490.834.3

.

,

, ,

SECURITIES.

Ash

Bid

Tennessee—6 s, o ld ......... 1892-1898
6s, new bonds ......1 8 9 2 -8 -1 9 0 0
do
new series.................1914
Compromise, 3-4-5 6 s ....... 1912
3s
1913
Redem ption 4 s ....................... 1907
do
4 * 8 ....................1913
P enitentiary 4 * s ...................1913
11 0
Virginia funded debt. 2 - 3 s ... 1991
6s, deferred t*st reo’ts , stam ped
1%

Ask.

........ .........
80"

.........
83

6*

7*

York City, ttoston aad P hiladelp hia Banks;
C a p ita l At

n.

y.*
Oct. 31..
Nov. 7.
“ 14.
" 21..

“ 28..
B os.*

Nov. 14

“ 21..
“ 28 .

P h lla . *

$

134.212.9
134.212.9
134.521.4
134.521.4
134.521.4

Loans.
$
448,250.4
442.179.7
445.408.8
454.962.0
463,818,2

Specie.
$
82.778,1
63.702.6
71,908,9
70.175,4
70,613,0

Legals.
Legate.

Deposits.* Oirc’Vn. Clearings

$
80,298,6
00,717,2
65,124,4
72,304,0
77,457,2

446,445.9
438,417,6
454,357,5
476.295.3
490.034.3

$

$

20,495,8
20,510,3
20,499,1
20.331,9
20,218,0

t
585,052,1
001 922,5
718 890,4
721.445.0
568,002.9

5.901.0 143.569.0 10,112.0- 105.405.0
6.793.0 144.722.0 10,068.0 102.383.5
91,177,2
6.300.0 146.881.0 10.143,
20,a80.0
96.501.0 8,888,0 01,882,6
29, 92.0
98.589.0 0,918.0 06.619.9
100.240.0 0,853,0 60.646.9
29,7 77.0

09.351.8 160.904.0 9.472,0
09.351.8 160.H17.0 9 495,0
09.351.8 101.823.0 9,000,0

Nov. 14.. 35.263.0 101.445.0
“ 21.. 35.263.0 101.292.0
“ 28.. 35.263.0 101.478.0

* W e otrbit Ciou viptiera in ** v iese d a ures.

+ Including !or 4 os ton and Philadelphia the ttem “ due to other banks.”

Miscellaneous and U nlisted B o n d s:
M is c e lla n e o u s B o n d s .

M is c e lla n e o u s B o n d s.

Amer. Spirits Mfg., 1st 0a..
Br’klyn Un. Gas, 1st oons. 5s.
Ch. Jan. & S. Yds.—Ool.t.g.,5s
Col rado 0 A I. lstoons.03,g.
Col. O. A I. Devel. go. 5s. ...
Colorado Fuel A I.—Gen. 5s.
Col. A Hock. Coal A I.—0a, g.
Cons.Gas Co.,Chic.—lstgn .os
Consol. Coal conv. 0a.............
Det. Gas con. 1st, 5 .............. .
Edison Elec. 111. Co.—1st 5 s..
Do.
of Bklyn., 1st 6s..
Equit. G.-L., N. Y.,cona. g.5s.
Equitable ii. & F.—1st 6s__
Henderson Bridge—1st g. 6s.
Illlnois Steel deb. 5s..........
Non-oonv.deb. 5s . . . . . . . .

Cnt. Cond. A las. deb. 6s.......
Manhat. Beach H A L. g. 4s
MetropoL Tel. A Tel. 1st 5 s..
Mich.-Penin. Car 1st. 5s .
Mutual Union Teleg.—6s, g..
Nat. Starch Mfg. 1st 6s . ...
97 b.
N. Y. A N. J. Telep. g *n. 5s.
Northwestern Telegraph—7a
People’s Gas A O. / 1st g, 6s.
Co., Chicago.......i 2d g. 0s. 103 kb,
]st cons. g. 8s . . . . .........
99 *b .
Standard Rope A T . ls t g 8s. 78 b.
Income 5 s .................... ...
25 b.
Sunday Creek Coal 1st g 6s.
U.S. Leather—S.f. dab..g.,0s. I l l
Western Union Teleg.—7 s...
Wheel.L.E.APltta.Ooal Istos *08*'
N oth .—“ b” in d ic a te s p ric e bid; " a ” p r ic e ashed, * L a t e s t p rice tu is w ee k

Bank Stock List—Lifceat prices this week,
BANKS. Bid.
America__ 320
Am. Exoh.. 171
Boweryfc. . . 300
Broadway.. 225
Butohs’ADr. 130
Central . . H 123
Chase —
350
Chatham.
290
Chemical ... 4000
City.......
550
Citizens’
125
Columbia__ 175
Commerce... 205
Continental. 130
Corn Exoh.. 280
East River.. 125
11th Ward... 200
Fifth A ve.... 2800
Fifth*_____ 250
First. ... ... 2500
First N.f 8,1. 100
14th Street..
Fourth ....... 177
Gallatin..
300

Ask.
330
175
315
250
150
135
305
135
208
—

275

5
F
185

BANKS.

(*Not listed.)

Bid. Ask. 1 BANKS.

400
German Am. 108
German Ex '
330
Germania.
350
Greenwich . 165
Hanover...... 315
Hud. River.. 155
Im. A Trad’s’ 530 550
Irvin g.......... 150 100
173
Liberty*....... 130
750 775
Manhattan.. 210
215 240
Mechanics’.. 185 195
130
M’ohs’ A Trs’
Mercantile .. 170
135 140
Meroh’ts Ex. 111
Metropolis.. 425
Mt. Morris.. loo
.......
Nassau.......... 152
N. Ams’dam 200
New York... 225 250

N Y.Co'nty
N Y.Nat.Kx
N in th ..........
19th Ward.
N. AmorJc*
Orient*: ..
Pacific.. .
Park............
People’s ...

Bid.

A sk

650
110
109
132
175
180
260

195
270
265

iof"* 110
Prod. Ex.*.. 117
Repnblio.... 145 165
Seaboard ... 171 177
425
Seventh .. 100
ShoeA Le’th 92 100
Stateof N.Y. 107*
Third___... 100 io s"
Tradesman P2
195
Union 8q.*,. 175
Un’u States 175
114 120
Western
faide 275 1

THE CHRONICLE,

D ecember 5, 1896,]

6‘H TO N , J*m LA ttgLP rtlA

AND B A LTITtO B E STOCK EXCHANGES.

‘ " G la r e P r i c e s — n o t P e r C e n t u m P r i c e s ,

\ - m e S tock*,
in d ie a te a u n lis te d .

S a tn r d a v ,
N 07. 2 8 .

M o n d ay ,
N ov. 30.

T u e s d a y , {W ednesday,
D eo 1.
D ec. 2,

13%

14%

13k

•17
*17
18
*62%
*17% 17%
B a ltim o re T r a c tio n “
S a iU m o re T ra e ’e f I P h il. >. 25
i- 2 0 9 " 210“ 2 0 9 k 2 0 9 k
B o sto n & A lb a n y ( Boston
2 0 5 2 >3
*105
B o sto n & L o w e ll
“
16>% 1 6 5 k
*165 187
Staton 4 Maine,
"
Qsafval o f Mass ,
’■
; *10% U % *10% I l k
!
*56
5H
*58
e fe rre l . .. ..
*
53
78 % 7 4 *
O •‘.Bnr.-sOam .
•*
77% 733s
■
7
4
^
71%
O tit 'til. t 3t. P ( P M
73 s 7 4 k
......
Q u O » G v > t.t,o
7k
7k
1 9 k 20
o n . 3t B f o f i a m
••
92“ 9 2 Q
92
92
31% 3 1 k
3 J k 31
108 1 0 3
StetropoPn rra e.f “
s'
M ex ican O M f l ( B a llo n
7%
8
7%
......
H ew K i s l a n d . . , .
*55
61
P re fe rte i . . . . .
“
n o r th e r n C e n tra l ( B a l .) . 50
" it” i ' i "
N o rth e rn Paotflo! (P h ila .ilO O *14 % 14 k
P referre d ;
too *24% 24% • 2 3 k 23%
1 7 9 4 *179 1 7 9 k
O ld C o lo n y . . . . ( B a t u m i 100
52
52k
P e n n s y lv a n i a . . . f P h i l o . ) . 5 0
52
52 k
P h il. 4 B ea d in g .!
•*
50 u ' i * 14 V 131&1* 113,a
P h lla d e lp h I'rao.
•*
5<
08** 66% 68k 6 8 k
'9 %
B a to n P»nil(e...fB#*fe»n>.10<
9k
9%
9%
U n io n T r a c tio n ..! PhU tt.). 5<
9k
0%
9 k 10
8S J * e e l l * t t 0<*W* S t o r k * .
A ui.S ag’r S e ttn - ltf S o t/ o n ;... 117% 117% 1 1 5 k 117 k
103 k 1 0 3 . 10 2 k 1 0 2kk!
P r e f e r r e d ..........
"
203 2 0 9
B e ll T e le p h o n e ..
“
10* 2 0 7 209
90
B o a t A M m ta n a .
“
2.
9 i% 9 2 k
5%
5k
B a t te A B o sto n .
“
2:
5%
6%
Q a lu m e t &Heels
’•
2' 325 3 2 5 J 2 0 3 * 5

"H "
*62k
*17%
17%
219 k
215
1S6

14
A tla n tic & P a e .

“

14k

B a lt im o r e 4 O h io {S a lt.

S ilt, City Pass’ger "

C o n so lid a te d G a s
*•
100
© e c -S to f, B a V y fiP h ila . ) . 100
P r e f e r r e d If
“
100
S rle T e le p h o n e ,f S e d a n ) . 1 0 0
G e n e ra l E le c tric .
“
P r e f e r re d . . . .
m in o i* S te e l . . .
*• 100

1001

6i "

62

31
31
63% 61 v
32
32
*70
75
5 0 H 50%
uomtotxStoreSer
■* 50 20 V * 21
42
L ehP h o m tl* NT»v. ( T M lo , 50 4 2
H. E.Telephone f B ot'cm ).100 •100
P a . H «a %£. & P o w f P h U a .)
7 2 * 72%
0 n U ‘d Q » e I ’up.w
*•
50
W A lsbach L ig h t 1
■*
5 51
51
•1%
l 7<j
West Knff L a n d ..f£ a « o n i
* B id am i
I l o w e s t is a x d iv id e n d .

Inactive Stock*,
P r ir tt o f D tto m b e r l.
A tl a n t a * C h a r lo tte (B a lt.). 100
B o s to n 4k P r o v id e n c e (Bottom ), 190
C a m d e n 4k A tla n tic p (. (P h ila .). 50
“
50
Q a ta v M a a ...........................
1 s t p re fe rr e d . . . . . . .
*
50
C e n tra l O h i o .......... .
( B a ll) 50
C h ic a g o * W est M le h . (B ottom ) . 100
Oomj«< flo u t .« P a s s . .
••
100
O n a n e e rie u t E l v e r . . . .
**
100.
O o D M l.T r a .to f N .J.O (PA U a.).lO O
D e la w a re * B o u n d B r .
••
100
F lin t A P a re M a r c . . Bo»i'on).100
P r e f e r r e d .......................
- 100
H e e to n v R le P a e e e n g . ( P h ilo .) . 5 0
P referre d , 1 . . . . . . . . .
••
50
B a n t . A B ro a d T o p ...
“
50
P r e f e r r e d ...........
"
50
K a n . V f »%.». A M em .(B o u to n ). 100
P r e f e r re d ........ .........
“
100
L ittle S c h u v lk lll.......... (P h U a .). 50
M ain e C e n tr a l........ »B o tto m / 1 0 0
M ine B ill A B .B x w a a .(P h ilo .) 6 0
N e e n n e b o a to g VA1. . .
**
50
K o n a A m e ric a n C o ..
"
100
W orth P e n n s y lv a n ia .
**
50
O r.fih. L in e a ll a e a t.p d f B o tto m .1 0 0
P e n n s y lv a n ia A N . w , ( P h ilo .) . 5 0
P b B a d ’e L A E r i e . . . . . .
"
50
BM1 i t ........... .............( B o tto m 1 0 0
P r e f e r r e d ,. ..............
**
TOO
S o u t h e r n . . ...................... ( B a h .) .1 0 0
P r e f e r r e d .......................
** 1 0 0
Wee*. E n d .......................( B o tk m ) . 5 0
P r e f e r r e d ......................
“
50
U n ite d Co*, o f N. J . . ( P h ila .J . 100
W e*t J e r e e y . . . . . ........
**
60
W **i J e r s e y A A tlaU "
50
W e ste rn N ,y . A -P e n n
"
100
W isconsin C e n t r a l . ..(B o tto n J .lO O
P r e f e r r e d ......................
“
100
W o rck L N ash .A B o eh .
"
100

B id ,

61%
28

62
23

63
64
2 ’k 31
75
*70
50
50%
2 0 * 20%
•41
41
IOO 100
13
13

14k

14%

14%

14%

F r id a y ,
D eo. 4.

S ales
o f th e
W eek,
S h a re s.

'Too

no

.......
*32
31 k 32
1 0 8 k 103 k
8
3

14
14k
2 3 k 23%
178 179 k
51% 52
1 4 1 4 U ie
86k 67
9
9
9%
9 7g

116%
103
208
92 k
5 i* |6
*322

6lk 61% 6i k
28
23 28

30
64
3 lk
70
•47
20%
42
100k
13 k
72
39

64
30 k
♦63
47%
20k
41 k

61
31k
72
47k
20%
41k
100 . . . . .
13
13
72
72
49%
it ;
45
47
2
• 1%
*1%
1%
1%
» k e d p ric e s: no s a le w a sim a d e .

117%
103% '
208 k
93
6
S25
6 lk
28
30
66
31%
70
43
21
42
li» k
13 k
72%
42%

1%

115%
1 03
207%
92
5%
3 25

B a n g s o f s a le s i n 18 9 6 ,

116%
1 03 k
209
92
6%
325

H ig h e s t,

L o w e st.

14%

3,470
1 4 k 14%
*%
1
13k 16k
16
16
173
* 1 2 k 14
*62% ........ 1 *62 k
*63
65
*17% 18
17% 17%
18
13
18
IS
18
18
2 36
2 09 k 210 *209% 2 13
210 210
99
206% 207
2 0 6 k 2 0 5 k *203% 208
1 84
1 6 5 k 1 6 5 k *168 167
136% 168%
63
*10 I l k *10 I l k *10% 11 % ’ ......
56
*56
58
56
*56
58 I
73% 7 9
78k 73k
78% 79 k 10,812
74% 7 5 k
74% 7 5 k
75 k 75% 1 3 ,0 0 )
7k
7k
7k
7k
*7%
7%
83
*19% 2 0 ,
92
92
92% 92%
92k 92k
251
31% 3 J
31% 32
31% 32 I
920
110 111 110% 1 1 0 * 110% 110%
7%
7%
'7 5 5
*7% 8
‘
7k
7k
__ *40 42
65
*55
60
66
66
60
*66 67
15
2,255
14% 14% *14% 14%
14% 14%
24 k
500
24% 24%
2 4 k 2 4 k *24
179% 179% T 7 9 130
179 179%
23
51% 52
5 t% 5 '2 k
51% 52
2 ,2 6 9
14i>,614*5,8 ltki4ii(6 U U ,8 14% 34,321
67% 67%
67 k 67%
68 68 % 4,808
*9% 10k 1 0 % iok
9k
9k
90
10
10%
10% 1 0 k 10% 11 11,901

" is
.....
18
17%
209 k
206
166
*10 I l k
•5 6
51
77k 78a
73% 74%
7
7k

115% 117
102 1 0 3 k
208 2 0 8
91k 9 k
5%
5%
32 i 325

T h u rs d a y ,
D to . 3.

8% A ng.

k S e p t.
I l k S ept.
6 0 J u ly
14% A ug.
1 4 k A ug.
2 00 A ug.
2 0 0 A ug.
149 A ug.
10 M ar.
52% J u ly
53% A ug.
60 A ug.
4 A ug,
14% A ug.
84% A ug.
27% A ug.
78% A ug.
6% A ug.
35 A ug.
55 A ug.
63% O et,
kM ay
9% A pr.
17 0 S ept.
49% A ug.
I k Jan .
57% A ug.
3 Jan .
8% Aug.

17% F e b . 2 4
% N ov. 2©
44% J a n , 2 7
70 J a n . 2
1 9 k A p r. 1®
19 A p r. 17
217 J a n . 2 S
2 09 J u n e l
171 Feb. IS'
18 N o t . 7
58 N o t , 1©
83% N o t . 1©
79% J u n e 17"
12 % J a n . 2t
30 J a n . Si
97 F e b . 1®
38% J a n . 3©'1
112 % N o v . 18*
1 2 % Feb. 24 .
51 J a n . 28*
85 J a n . 2©
70 F e b . 1 4
U7
N o v . 1®
123% N ov. 11
1 8 ) N o v . 1©
54% A nr. 2 S
J1 6
N ov. 4 .
72% May 5
12k N ov. ©•
20 May I S

115% 117
10 3 k 103%
208% 209
92% 9 3 k
6% 7 k
3 22 325
*60 ..........
62
62
28% 29%
31% 31%
65% 66 k
33
33
*70
75
48
48
21 2l k
42
42

2 0 ,1 2 6 95 k A ug. 8 1 2 6 k A p r. 2 1
2 67 92% A ug. 10 1 0 5 k J u n e 1®
3 3 6 195 J u ly 29 210 N ov. 4.
4,172 65 J a n . 7 96% N ovl i e 18,918
l k M ar. 7 1 3 k J a n . 3 1
13 295 J a n . 3 3 3 5 N ov. I T
. . . . . . 64 J u n e 18 6 4 J u n e I S
678 5 5 k J a n . 20 6 7 N o v . 1©
tii% 61%
•28
23
1,1 0 8 2 0 A ug. 10 36% A p r. 1&
3 3 0 2 2 A u g . 8 38 A p r. 1 6
30% 30%
1,6 9 3 5 1 k A ug. 10 66% N ov. 1©>
65
63
31% 32%
2 ,0 0 4 21 J u ly 16 3 9 k M ar. 13
70
70
9 7 5 0 J a n . 8 78 A p r. life
*47% 48%
808 3 2 A u g . 31 75 A p r, 1&
365
15% A u g 12 21% N ov. 4
21k
21%
42
42
196: 38 A ug. 3 46 k F e b . 8
100%
100%
1
5
0
87%
J a n , 23 100% D ec. SE
100k 100k
13% 13%
88 3
9 J a n . 7 16 N o t . 4
13 k 13 k
1,325,
5
8
k
A ug. 10 8 1 k J a n . S
7 3 k 73%
73
73
2 ,8 3 4 34% J u ly 16 67 F e b . 17
4 3 k 47 k
44
45k
2 k Feb. 1 4
5 0 | 1% A u g . 10
1%
1%
*1 % 1 %
1 T r u s t re o .,a ll in s ta l. p a id .

Bond*.

B id.

A sk .

B o sto n U n ite d G a s, 2 d m . 5 s . .1 9 3 9 4
89 .......... B u rl. A Mo. R iv e r E x e n p t 6 s , J S J i
255 260
N o n ^ x e m p t 6 s ._____1 9 1 8 , J A J ;
Plain 4 s . . . . . ....................1 9 1 0 , J & J
"*2k
3 ” O hio. B u rl. A N o r. 1 s t 5 ,1 9 2 6 , A&O
........ .1 49
2d m o rt, 6 s ....................1918, JA D
D e b e n tu re 6 a........ ....... 18 9 6 , J A I ) {
2 6 ..........
5 I 7
Ohio. B n rh & Q n la o y 4 s . 1922, F& A
Io w a D iv isio n 4 e ........1 9 1 9 , A&O i
1 4 0 141
2 4 0 1250
Chlo.&W.Ktoh. gen. 5s, 1921, J&D \
Oonsol.
of Vermont, 5 s. 1913, J&J J
.......... ! 25%

Cnrrent River, 1st, 5 s ..1927, A&O
Det. Lans. & Nor'n k . 7 s . 1907, J&J
Pastern 1st m ort 6 g,1906,M & 8.. *
J ree.E lk .&M .V.,1st,6s.1933, end.;
Unstamped, 1st, On, 1933.

12
10
37
35
. . . . 52
____! 6 0
K .C . C .& 8 p rin g .,1 s t,5g.,1925,A & O j
24 1.......
i.& M , o o n .6 a , 1928.M & N
50% . . . . .
_ 0. F.8...........................
5 | 10
K .C . M em , & B ir ..ls t12 s,1 9 2 7 ! M&S
K.
C. S t. J o . & C. B ., 7 s . . 1 9 0 7 , J & J
35
50
L. B o c k * F t 8 y 1 s t , 7 s . . 19 0 5 , J & J
50
129
131 L o u is.,E v .& S t.L .,1 s t,6 g .l9 2 6 ,A & O
54
55
2 m ., 5—6 g ................... 1 9 3 6 , A&O
53% 54 i M ar. B , & O n t., 6 s........ 19 2 5 , A&O
......... M ex ic a n C e n tra l, 4 g . . . 1 9 1 1 , J & J
1 s t c o n so l.In c o m e s, 2 g, n o m sn ai.
'* s T ' 33%
2 d o o n so l. in c o m e s, 3 s, no n -o u m .
1a ; 161
......... N . V . * N . E n g „ l s t , 7 s , 19 0 5 , J& J* {117% 118
l e t m o rt. 6 s ...................1 9 0 5 , J & J
" 1*7 % 18
in k
90
1
O g d en . & L .C .,C o n ,6 s ...19 2 0 ,A&O
%
15
.........
In c . 6 s 1 920
.......... B n tla n d , 1 s t,6 s .............1902,M & N (102 102%
92
90
..........
2d, 5s
1 8 9 8 ,F& A
06
^
A O a n W * t y l ^ l f g d ? m ^ M & N 102%
87
-B u ffalo
~
- y . oon. -1 s t, o s ............1031 109 109%
R
238 2 3 9
L a ta w le sa , M .,7 e ------- 1 9 0 0 , F& A 108
C hoc. O khi. & G a lf, p r io r lie n 6 s .. 107% 108
80
C itiz e n s’ 8 t.K y ,o f in d ,,o o n .5 a,1 9 3 3
75
2V
3
95
1 % 2 % C o lu m b . 8 t. K y „ 1 st, con. 5 s .. 1 9 3 2
C
olom
b.
O.
C
ro
ssto
w
n
,
i
s
t,5
s
.l
9
3
3
— I 15
C onsoL T ra o t. o f N. J „ la t,5 s ,1 9 3 3 '8 3 % 84
119 12L
D e l. & B’d B r’k , 1 s t, 7 s .l9 0 5 ,F & A 120
%
% E a s to n & A m , ls tM .,6 s .l9 2 0 ,M & N 10s
.
.
.
E
21
21% le c . & P e o p le 's T rac , s to o k .tr . otfa 71% 71%
5 k ' E lm ir. & W ilm .,1 s t, 6 S .1 9 1 0 , J & J .
5
4%; H e sto n v llle M. & F ., oon. 5 s ..1924 iio"
4
2 k H u n t. & B rid T o p ,C o n .5 s .’9 5 ,A&O
2
1% L e h ig h N a v .4 % 8 ........... 1 9 1 4 ,Q - J 1 1 0 %!
1
12% ' Zd 6 b, g o ld .....................1 8 9 7 , J& D 1 0 4 k l 0 4 %
12
1 G e n e r a l m o r t. 4 % s ,g .l9 2 4 ,Q —F 101
%
98
L e h ig h V al.C o ai 1 s t 5 s ,g . 1933, J & J
16% 17
.L e h ig h V aU ey, 1 s t 6 s ...1 8 9 8 , J & D 103
30 i 31
156%’157% ; 2 d 7 s ................................ 19 1 0 , MAS 127%
C o n so l. 6 .........................1 9 2 3 , J& D
------- ] 37
N e w a rk P a s s e n g e r, oon. 5 s ...1 9 3 0 106 , ____
........... 70

Bonds,

B id , A ste,

P e o p le ’s iT a o , t r u s t c e rts . 4S..1943
P e rk lo m e n , 1 s t s e r ., 5 s . l 9 1 8 , Q—J
F h ila .& E r ie g e n . M. 5 g .,1 9 2 0 , A&O
G en. m o rt., 4 g ............19 2 0 , A / 0
P h ila & R ea d , n e w 4 g ., 1 9 5 8 , J & J
1 s t p re f. in c o m e , 5 g , 1 9 5 8 , F e b 1
2d p re f. in c o m e , 5 g , 1 9 5 8 , F e b . 1
3 d p re f. in c o m e , 5 g , 1 9 5 8 ,F e b . 1
2d , 5 s ............................... 19 3 3 , A&O
O onsol. m o rt. 7 s .......... 19 1 1 , J& D
C onsol, m o rt. 6 g ___ ..1 9 1 1 , J& D
Im p ro v e in e n tM . 6 g ., 1897, A& O
C o n .M ,,5 g.,B taun>ed,1922,M & N
T e rm in a l 5s, g ----- .1 9 4 1 , Q.—F .
P h il. W ilm . & B a lt., 4 8 .1 9 1 7 , A&O
P it ts . O. & S t. L ., 7 s . . .. 1 9 0 0 , F&A
R o c h e s te r R a ilw a y , oon. o s ..1 9 3 0

94
95
__
io o % j
120%
H8
105 10681*6 8 1 %
4 3 k 48 %
3 6 k 37%
36
35

U n io n T e rm in a l 1 s t 5 s ___ ...V & A

.

i9 0 7 , J & J
B a ltim o re B e lt, 1 s t, o s .1 9 9 0 , M AN
B alt. C. P a s s . 1 s t 5 s . . . .1 9 1 1 , M&N
B alt, T ra c tio n , 1 st 5 s . .1 9 2 9 , M&N
E xtern. & im p t. 6 s ___ 19 0 1 , M&S
N o. B a lt. D lv „ 5 s ........ 1 9 4 2 , J& D
B a ltim o re & O hio 4 g ., 1 9 3 5 , A & O
P it ts . & C onn., 5 g — 19 2 o , F& A
S ta te n I s la n d , 2 d , 5 g .1 9 2 6 , J & J
Bal.& O hiO 8 ,W „ ls t,4 % g .l9 9 0 , J & J
O apeF , &Y a d v 8 a r, A .,6 g . 1 9 1 6 , J& D
C en t. O hio, 4% g .............. 1930, M&S
C ent. P a s s., 1 st 5 s____ 1932, M&N
C ity & S u b ., 1 s t 5 s ..........1922, J& D
O h a rl.C o l.& A n g .e x t.5 s .l9 1 0 , J & J
COL * G re e n v ., 1 s t 5-08.1917, J & J
G e o r g ia * A l a „ l s t p f . 5 s .l9 4 5 ,A & 0
G a .C a r . & N or. 1 s t 5 g . . l 9 2 9 , J & J
G e o rg ia P a o ., 1 s t 5 -6 S ...1 9 2 2 , J & J
o e o r. So. & F la ., 1 s t 5 B ..1945, J & J
N o rth . C e n t. 6 s . . . . . . . . . . 1900, J & J
6s ......................
1904, J& J
S e rie s A , 5 s . . . . ..............1926, J & J
MBCBIAASIftOTJA
4 % 3 ............... . . . . . . . . . . 1 9 2 5 , n& O
All ou»> r M11,1 , sus* t p d f B a t k m ) . 26
P le a m .& C n m .,ls t, 5 g_1911, F&A
A tla n tic M in i n g .. .. ..
"
25,
P it ts . & C o n n ells. I s t 7 s . l 8 9 8 , J & J
B ay S ta te G as ? ..............
"
50
S o u th e rn , 1 s t 5 s .......... — 1994, J & J
B oston l a n d . . ............
**
10
V irg in ia M id., 1 s t 6 s . . . 1 9 0 6 , M&S
O snt.eaniaJ M in in g ...
“
10
2 d S e rie s, 6 s ................... 1911 M&S
F o r t W ayne E l e c t f . ,
“
25,
3 d S e rie s , 6 s . . . . . . -----1 9 1 6 , M&S
F ra n h H n M i n in g .....
“
25j
4
th S e rie s, 3 -4 -5 s........19 2 1 , M&S
K re a o h m 'n k B a y V t .
"
6!
5 th S e rie s, 5 s ................19 2 6 , M&S
K e a r iw g e M in in g .. . .
“
25
W
est
V a C. & P . 1 s t, 6 g .1 9 1 1 , J & J
Q aoeota M in in g ...........
**
25
Wes f t N.O. C onsoL 6 g -1 9 1 4 , J & J
P u llm a n P a la c e C a r .
**
100
W
ilm
.
Ool. & A u g ., 6 s . . 1 9 1 0 , J& D
P e tin s r iv a n ia S te e l.. (P h ila ,). 100
JUSOBLniNBOOS.
P r e f e r re d * !...................
“
100
B
a
ltim
o re W a te r 5 S ...1 9 1 6 , M&N
110%
111%
■t,;i
,
1OJG.
Q u in c y M in in g . ........ (Bottom). 25 1 1 7 :ii9
F u n d in g 5 s . — . . . . . 1 9 1 6 , M&N
G e n . M, 7 s ....................... 1 9 0 3 , J & J 123
94
95
25
r a m a r a o * M in in g ___
“
E x o h a n g e 3 % s .. . . . . . . 1 9 3 0 , J & J
1 P a te r s o n R a ilw a y , consol. S a ..........
100
Water Power
V irg in ia (S ta te ) 3 s ,n e w -1 9 3 2 , J & J
2 7 1*! 20 P e n n s y lv a n ia g e n .6 a , r.,1 9 1 0 , V a r i¥ o "
Wecttngh. Elec. &&L.
**
50
F u n d e d d e b t, 2 -3 s .........1 9 9 1 , J & J
119
C oneol. 0 s ,o
............. 1 9 0 5 , V a r
50
Pref., oniaalative.
60% ' 51%
C h e s a p e a k e G a s. 6 s ____1 9 0 0 , J & D
O onsol. 5 s , r ........... . ., . . 1 9 1 9 , V a r 114
O
onsol.
G a s , 6 s . . . . —. .. .1 9 1 0 , J& D
O o lla t. T r . 4% g . . . . . „ 1 9 1 3 , J& D
78%
,78
,1 9 9 3 67
5 s..........
.......1 9 3 0 , J& J
A d ju s tm e n t g. i t , 1 9 9 5 .
M 2 % 42% P a . A N . Y . C a n a l , 7 s . . . l 0 6 ,J& D 120
<
4l
l
t
a
b
le G a s , 6 8 . . . —. 1 9 1 3 . A & O
10
6
O on. 5 s ........................... 1 9 3 9 A&O
8 a t * U n ite d G a* 1 s t 5s.
I84 85
• P rio e to o l o d e s o v e rd a e c o u p o n s.
it U n lis te d .
) A n d a o o ra e d i n t e r e s t .

ice"

120

124% ____
114
103
101% 101%
109 1 0 9 %
1 09

....war
97%

101k 102.
1 19
92

319%
93

i i o '”
108
103% 105
107% 108

101

60
03%
111%
110%
108
112
99%
79
113%

112
i'o T
ill"

112 %

92
101 % 102
108%,.
108

121

io T
73

61
81%
1 05 1 0 5 %
115%
107

THE CHRONICLE.

u m

[V ol , L x i n

NEW YORK STOCK EXCHANGE PRICES (Continued)—ACTIVE BONDS DECEMBER 4 AND FOR YEA R 1896.
R a il r o a d a n d
Misc e l l a n e o u s B o ndb .

(Jloaing Range (sales) in 1896.
I n fa t
Period Dec. 4.
Lowest. | Highest.

Ainer. Cotton OU, deb., 8 g .1900 Q—f
Ann Arbor.—le t, 4 b , g ......... 199S Q-J
A t.T . & S .F .—N ew gen. 4,8-1995 A & O!
A d ju stm en t 4 s .................... 1 9 9 5 Nov. j
Col. Midland—C o n s.,4 g .1940 F & A
A tl. & Pao —Guar. 4 s ....... 1937
B’w ay& 7ttiA v.-lst.con.g.5s’4o J « L>
Brooklyn Elev. 1st, 6 g ....l 9 2 4 A & O
Union Elevated.—6 g ---- 1937 M A N
B’klynWhrl&W.H—lst,5 s,g .’45 F A A
Canada Southern—1st, 5s, 1908 J A J
2d, 5s.......... . . . - . . . - - . . - . . 1 9 1 3 M A S
Central of N. J .—Cons.,7s, 1899 Q -J

105 ^b. 102% Aug. 111% Jan.
73Hs 63 Aug. : 74% Nov.
68% Aug. ! 81% Feb.
7914
42 ^
28% Aug I 51% Feb.
Feb.
2 0 H 116 Sept. !t27
40 b. 40 Mar. 50 Apr
110 b. 109% Aug. 118% Nov.
71 Sept. 102 Jan.
7 9 14
78 a. 70 Sept. 100% Jan.
101
90 Aug. 101% Nov.
no
105 Aug. 110% June
105
98 Sept. 107 Feb.
100 b. 103% Aug. 110% Mar.
C onsol., 7 s ........................... 1902 MAN 117 a. 115% Feb. 120 Apr.
General mortgage, 5 g ... 1987 J A J 118 b. 110 Aug. 120 June
Leh.A W .B .,oon.,7s,as'd.l900 Q -M IO314 101% Aug. 106 Feb.
90 Apr. 92% Mar.
*•
m ortgage5s-1912 M i N
Am. Dock & Imp., 5 s ___1921 J A J 110 a 108 Aug. 116 Nov.
Central Pacific.—Gold, 6 s .1898 J A ,J 103 b. 99 Oct. 104 May
Cfies. A Ohio.—Ser. A, 6g.-1908 A A O 118 b. 111 Aug. 119 Ju ly
Mortgage, 6 g . . . ........... ..1 9 1 1, A A O *118 b. 114% Apr. 119 Nov.
lstco n so l.. 5 g ................... 1939
4“ ? 107*4 100 July 1 Ll% Apr.
65 Aug. 78% Feb.
General 4%s, g ................. 1992 M& S 74
90 Aug. 98 Nov.
R .& A .D iv., lsto o n ., 4 g .l9 S 9 J A
u J 97%
•*
2d con., 4 g ..1989 J A J * 88 a. 75 Aug. 88 June
95 Autr. 102% Feb.
ASliz. Lex. &Big. S an .,5g.1902 M A S 99
Clilo. Burl. & Q.—Con. 79.1903 J A J 117 i*b. 110 Aug. 120 June
Debenture, 5 s....................1913 MAN 97 b. 85 July 101% Apr.
93 Aug. 104% Feb.
Convertible 5a.................. 1903 M A S 101 %
D enver Division 4 s ......... 1922 F A A 9214 b. 87% Aug. 95% June
MAN
88Ljb.
80 Aug. 91% Feb.
Nebraska Extension, 4 s.l9 2 7
Han. & St. Jos.—Cons.68.1911 MAS "117 b. 109 %Sept. 118% Jan.
J
A
D
110
b.
110
Aug. 117% May
Cldc. & E . HI.—1 st,s. f. 68.1907
Consol, 6 g ___. . . . . . . . __ .1934 A A O 122 b 118 Aug. 127 June
M
A
N
102% Apr.
96
Oct.
101%
General consol., 1st 58.-1937
Chicago <Ss Erie.—1st, 5 g ..l9 8 2 M & N 111** 101% Aug. 112 Feb.
95% Dec.
82
Sept.
95%
Crnlo.GaaL.&C.—ls t ,5 g ..l 9 3 7 |J & J
Cliic.MlL&St. P.—Con.78.1905!J & J 129 b. 119 Aug. 132% June
11633b.
118
May
106 Aug.
1st, Southw estD iv., 6 a ..l9 0 9 |J & J
1st, So. Minn. D iv., 6 8 ..1 9 10 J A J 117^b. 110 Aug. 118% June
11412
108 Aug. 115% June
l3t,C h.A P ao.W .D iv.5s..l921:J & J
C liic.& M o.R iv.D iv.,5s..l926|J & J 109 a. 102% Aug. 111 June
Wise.&Minn..,Div , 5g . . . l 9 2 l J & J 11078 103 Aug. 112% Mar.
Terminal, 5 g .___
...1 9 1 4 J & J 112is 105 Aug. 114 June
91% Aug. 98 June
Gen. M., 4g., seriesA ___1989 J & J 901^
Mil. & Nor.—1st,con.,68.1913 J «fe JD n o b. 115 Sept. 119 May
Chic. A N. W.—Consol., 7 s .l 9 1 5 Q - F 140 a. 129% Aug. 141 Jan.
Coupon, gold, 7a...............1902 J & D 11514 115 Aug. 120 May
Sinking fund, 68...............1929 A & O 110 b. 106% Aug. 116 Mar.
Slnklnglnnd. 5 s .............1 9 2 9 a & o; *108.)ab. 104% Aug. I l l Mar.
Sinking fund, deben.. 5 s .1933 M& N lOO^ab. 104% Sept. 111% Apr.
25-year debenture, 5 s. ..1 9 0 9 M A N 105 b. 103 Jan. 107 Apr.
98 Sept. 102% Apr.
Extension, 4 s ....................1926 F & A 101
Ohio. R.X. APao.—68,cou p .l917 J <fe J 130% 119% Aug. 13u% Dec.
94 %Aug. 106 June
Extension and coL, 5a...1 9 3 4 J & J IO413
87% Sept. 97% Feb.
30-year debenture,5s_.. 1921 M& S 96
Chic. St. P. M. A 0 .- 6 8 ...1 9 3 0 J & D 125 b, 117 July 129 May
Chic. AW.Ind.—Gen.,g. ,68.1932 Q -M "11514b. 113 Sept. 118% Feb.
Clev. Lor. A W heel—5 s ... 1933 A & O 101 b. 102 Aug. 107% Mar.
C.C. C. A 1 —Consol. 7g ...1 9 1 4 J & D *135 a. 119 Jan. 134% May
124 Sept. 127 May
General consol., 6 g ......... 1934 J & J
A &1940
O 75 b. 60 Aug. 80 Jan.
0.
C.C A8t.L.—Peo.AE.,4s.
10 b. 10 Aug. 23 Jan.
Incom e, 4 s ......................... 1990 April.
Col. A 9th Ave. gu. 5s, g .,1 9 9 3 M & 8 llOM 109 Aug. 116% Nov.
M& b 8 7 7e
80 Aug. 90 Feb.
001.
H .Val.AToi.—Con.,5g.l931
91 Nov.
General, 6 g . . . ......
1904 J A D 86 b. 80 Jan.
D env. A Rio Gr.—1st, 7 s,g-1900 MAN 111% 110% Jan. 114 Apr,
J
90
b.
92
May
83
Jan.
1st oonsol., 4 g.................. 1936
1 0 0 b. 92% July 100 Nov.
Dill. So. Sh. A A t l—5 g . . -.1937 J
J
105%
June
105
b.
Edison El. 111.—lst,o o n .g .5 s.’95
97% Jan.
83 Aug. 95% Feb.
Erie—4, g, prior bonds___1996 J
92%
05
54% Aug. 67 Apr.
General, 3-4, g .................1996 J
Ft,. W. A D e n v .C ity .-6 g -.1 9 2 1 J A D \ 6 4
i40% Aug. 1 70% Feo.
Gal.H.ASan.An-M .AP.D.lat,5g M A N 9 0 b. 89% Nov. 93 Jan.
Gen. Eleotrlo, deb. 5 s ,g ... 1922 J A D 89%b. 82 Sept. 94 Nov.
66 Nov. 71 Apr.
H oub. A T. Cent. gen. 4s, g.1921 A A O 66 %
Illinois Central.—4s, e .......1953 MAN 9 9 b. 99 Jan. 102 Feb.
97 Aug. 103% Ju ly
W estem L in es.lst, 4s, g.1951 F A A
Int.AGreatNor.—1st,6s,g 1919 M A N 110% a. 114 July 118% Apr.
6 7 b. 66 Nov. 77 % Feb.
2d, 4-5s...............................1909 M A S
87 Aug. 100 Nov.
Iow a Central.—ls t ,5 g ...,1 9 3 8 J A D
97%
Kings Co. Elev.—1 st,5g_. 1925 J A J 4 5 b. 37% Sept. 71 Jan.
85 Aug. 96 Jan.
92%
Laclede Gas.—1st, 5 s ,g ... 1919 Q - F
Lake Erie AWeBt.—5 g ___193 J A J *116%b. 110 Aug. 117% June
L. Shore.—Con,op., 1 s t ,7 s .1900 J A J 113%b. 108 Aug. 115 Jan.
ConsoL ooup., 2d, 7 s....... 1903 J A D 118 a. 113% Sept. 120% Mar.
Lex. Av. A P a v .F .g u . 5 s,g .l9 9 3 MAS 116
109 Aug. 116% Nov.
Long Island.—1st con., 5 g .l9 31 Q—J 119 b. 117% Jan. 120 Feb.
General m ortgage, 4 g . . . 1938 J A D 9 0 a. 90 Aug. 98 Jan.
Louis. A Nash.—Cons. 7 s .. 1898 A A O 1 0 4 b. 101% Oct. 108% Mar.
N. O. A Mobile, 1st, 6 g ... 1930 J A J 1 1 7 b. 1 1 2 Oct. 119 Feb.
2 d .6 g . 1930 J A J 100% b. 96 Aug. 102% M ay
General, 6 g ...................... 1930i J A D 116% 110 Sept. 11778 Apr.
79
U nitied,4g........................1940 J A J
68 %Aug. 80% Feb.
Louis,N. A. ACh.—1st, 08.1910 J A J 108%b. 102% Sepr. 114 June
74 Aug. 103 Feb.
89
Consol., 6g ........................1916 A A O
88 Aug. 99 %Mar.
M anhattan consol. 4 s.......19S0 A A O
95%
111% Aug. 120% June
Metro. E le v a te d .-1st, 6g. 1908 J A J 119
2 cl,6a..................................1899 M A N 104%b. 101 Aug. 108 Apr.
Mioli. Cent.—1 st,cons., 7s.1902|M A N *114 b. 111 Aug. 119 Jan.
ConeoL, 5 s ........................1902: M A N 1 0 5 b. 103 Ju ly 108% Feb.
122 Aug. 132% Apr.
MIL Lake Sh. A W —lst.6 g .1 9 2 1 M A N 131
E x te n , A Imp., 5 g ...........1929, F A A 1 1 2 b. 104 Aug. 115% May
Minn.ASt.L.—l e t con. 5 s.g.1934 M A N 9 9 %b. 96 Aug. 103% Apr.
Mo. X. A S .—1st 5 s,g .,g u ..l9 4 2 A A O * 9 2 a. 81 Aug. 94 Feb.
75% Aug. 87 Feb.
M. K. & Texas.—1st, 4s, g .1 9 9 0 1J A D 82%
2d,4e, g . . . . ......................1990iF A A
44 Aug. 63% Feb.
59%
N o t e .—“ b ” Indicates price bid; “ a ” p r ic e asked; the r a n g e is m a d e u p

R a il r o a d a k d
M is c e l l a n e o u s B o n d s .

Range (sales) in 1896.
Period]

Lowest.

H ighest.

Mo. Pac.—1st, con., 6g.......1 9 2 0 M & N * 85 b. 78 Ju ly 97 Jan.
3d, 7 s ........................ ......... 1906 M & N| 103
99 Sept. 112 Jan.
Pac. of Mo.—isC, ex ., 4 g . 1938 F & A: 100 b. 98 Oct. 104% June
2d ext. 5 s....................... 1938 J & J •102 b. 100 Aug. 106 Apr.
St. L .& Ir.M t.lstext.. 58.1897 F & A lOl^ab. 95 Aug. 102% Jan.
2d, 7 g ..............................1897 M & N 101
97% Aug. 103% Apr.
Cairo Ark. & Texas, 7 g .l8 9 7 J & D 99%
99% Ju ly 102% May
Gen. R’y A lan d gr.,5g-1931 A & O * 74 b. 68 July
81% Mar.
Mobile & Ohio—New 6g ...1 9 2 7 J & D 116 b. 113 Aug.. 120% May
68%
General mortgage, 4s 1938 M A S
56 Aug. 69 Nov.
NaslLCh. ASt.LT—1st, 7 s ..1913 J & J 128 b. 125 Sept. 132 June
Consol., 5 g .........................19^8 A A O 100
93 Ju ly 102 Feb.
N. Y. Central—D eb text.4s.1905 M A N 101 Jsb. 100% Jan. 105% Oot
1st, coupon, 7 s ................. 1903 J & J 12 0 13 b. 112 Aug. 120% Mar.
Deben., 5s, coup., 1 8 8 4 .. 1904 M A S 104 b. 102% Aug. 109 Feb.
N. Y. A Harlem, 7s, r e g ..l9 0 0 M A N •11114a. 109% Nov. 111% June
R. W. A Ogd., consols, 08.1922 A A O 1 1 5 1 3 b. 115 Ju ly 119% Feb.
West Shore, guar., 4 s. ...2 3 6 1 J & J 107
100 Aug. 107% June
N. Y. Ohio. A 8t. L.—4 g . .. 1937 A A O 104
99% Aug. 105 Feb
N .Y .L ack . AW .—1st, 6a .. 1921 J & J ” 133 b. 120 Aug. 133% June
Construction, 5s.............. 1923 F A A *114 b. 112% Mar. 115 June
N.Y.L.E.AW.—1st,con.,7g. 1920 M A S 138
131 Aug. 140 Feb.
Long Dock, consol., 6 g.1 9 3 5 A A O * 1 3 2 i2 b . 131 Oot. 132% Nov.
N.Y. N. H. A H.—Con. deb. ctfs. A A O 136
127 Sept. 137 Feb.
89is 82 Ju ly 93% Feb.
N.Y. Ont. & W .-R ef. 4s, g.1992 M A S
Consol., 1st, 5s, g .............1939 J & D 107% 102 Ju ly 110% N ov.
N.Y.Sus.A W .lstref.,5s, g.1937 J & J lOO-ab. 90 Ju ly 102% Nov.
Midland of N. J., 6s, g . . . 1 9 1 0 A A O 1 1 6 1 3 b. 109% Sept. 118 Mar.
Norf.AW .—100-year, 5s,g. 1990 J & J ' 64 b. 60 Jan.
67 Feb.
No. Pacific—1st, ooup. 6 g .l9 2 1 J A J 115% 109% Aug. 118 Mar.
Do. J. P. M. A Co. oertfs....... .............. llSisb. 109 Aug. 115 Nov.
General, 2d, coup., 6 g ..l9 3 3 A A O U I 714 100 Jan. 1117%Dec.
General, 3d, coup., 6 g .,1 9 3 7 J & D ’ 78
59 July 82% Mar.
Consol, mortgage, 5 g . .. 1989 J A D 55%
31% Jan.
57 Nov.
Col. trust gold notes, 6 s .1898 M A N t 95%
76% Jan. 196 Nov.
Prior lien 4s when issu ed
Q—J
85%
84 Deo.
86 Nov.
51%
General lien 3s when issu ed . Q—F
51 Nov. 53% Nov.
Cliio. & N. Pao., 1st, 5 g.,1940 A A O t 43% t35% Aug. t48% Apr.
Seat. L. S. A E., lst.,g u .6 .1 9 3 1 F A A 38 b. 136 Mar. 144% Feb.
No. Pao. & Mont.—6 g ....... 1938 M A S t 42% t2 6 Jan. 142% Nov.
No. Pacific Ter. Co—6 g __ 1938 J & J 108%
99% Aug. 109% Ju n e
Ohio A Miss.—Con.s.f., 78.1898 J A J 105 b. 100 Aug. 104% May
Ohio Southern—1st, 6 g ...l 9 2 1 J A D 94
70% Ju ly 96% Nov.
16
General m ortgage, 4 g .,1 9 2 1 M A N
116 Nov. 35 Feb.
86
Oregonlmpr. Co.—I s t 6 g ..l9 1 0 J & D
91% Jan.
73% Oot.
ConsoL, 5 g ..................... 1939! A A O 19
t 7 Ju ly 36 Jan.
Ore.R.ANav. Co.—1st, 6 g .l9 0 9 J & J 112%b. 104 Aug. 112% June
80%
Ore.RR.&N.consol., 4 g.. 1946 J & D
82% Nov.
80 Dee.
Penn. Co. -4%g, coup....... 1921 J & J 112%a. 105% Aug. 113% June
Peo. Dec. A E vansv.—6 g.1 9 2 0 J & J 100 b. 98% Ju ly 102 Mar.
Evans. Division, 6 g ....... 1920 M & S 102%a. 101 Mar. 102 N ov.
2d mortage, 5 g ................ 1926 M& N t 26 %a. 22 Nov. 31 Fern
Phila. A Read.—Gen., 4 g ..l9 5 8 J * J 1 81% 167 Aug. t81% Nov.
1st pf. in o.,5 g, a llin st. p d /58
48%
18% Jan. 149% Nov.
t 37
2dpf.ino., 5 g., aLlinst. pd.’53
5% Jan. t3 9 Nov.
t 35%
3d pf.ino., 5 g ., allin st. pd.’58
3% Jan. ' 36% Nov.
Pittsburg A^Western—4 g.1917 J * J 74 b. 64 Aug. 77 Jan.
RioGr. Western—1st 4 g .,1939 J & J 76%
63 Aug. 77 % Feb,
St. Jo. & Gr. Island—6 g .,1 9 2 5 M & N 150 %a. 137 Aug. 151 Jan.
St. L. A San Fr.—6 g, CL B .1906 M & N 110 b. 110% Nov. 117% Apr.
General m ortgage, 6 g ..l9 3 1 J & J 109% 101% Jan. 114 June
Cons. guar. 4 s, g ...............1990 A & O t 66%b, 1 21 N o v . 38 Mar
St. L. A S. F. Rti. 4 g.........1996 J & J 6 6 %
64 Nov. 66% D ec.
St. L. A So. W.—1st, 4s, g.1989 M & N 66 b. 60% Aug. 76 Feb.
2d, 4s, g., incom e..............1989 J & J
23% Aug. 32 Feb.
St.P.M. AM.—D ak.E x.,6 g . 1910 M & N 1 1 5 1 2 b. 112% Nov. 121% Mar.
1st consol., 6 g ............ ...1 9 3 3 J & J 122 b. 117 Jan. 124% June
“
reduced to 4 % g .. J & J 105 a. 100 Aug. 106 June
Montana exten sion , 4 g.1937 J & D 85%b. 84% June 90% Sept.
San. Ant. A A. P .—lst,4 g .,g u .’43 J & J 57
45 Aug. 59 Feb.
So. Car. A Ga.—1st, 5 g . . . 1919 M & N 90 a. 93 Jan.
97 Apr.
So. Paoifio, Ariz.—6 g ... 1909-10 J & J 91 b. 92 Oct.
97 Feb.
So. Paoifio, Cal.—6 g . . . 1905-12 A * O 107 b. 107 Apr. 112 July
1st oonsol., go] d, 5 g....... 1937 A & O 86 b. 85 Nov. 92% Apr.
80. Paoifio, X . M.—6 1 .......1911 J & J 103 b. 101% Jan. 106 Feb.
76 Aug. 94% June
Southern—1st eons, g, 5 s. 1994 J & J 92
E. Tenn.roorg. lien 4-5s. 1938 M& S 88 b. 90 Mar. 93% Feb.
E .T . V. AG.—1 st,7 g ._ ..1 9 0 0 J & J 110 b. 106% Aug. 111% Ju n e
Con. 5 g ...........................1956 M & N 106% 100 July 109% Apr.
Georgia Pao. Ist5 -6 s, g.,1 9 2 2 J & J l l l i 4 a . 103 Sept. 114 Jan.
K noxv. & Ohio 1st 6 s,g .. 1925 J & J
110% Sept. 116 May
Rloh. A D auv. oon. 6 s,g ..1915 J & J 120
110% Aug. 121% June
W est.N o.C arlstoon.68,gl914 J & J 113
103 Sept. 114 Apr.
Tenn. O. I. A Ry—Ten. D .lst, 6g A & O 85
72 Sept. 93 Feb.
Birmingham D lv., 6 g . . .1917 J & J
79% Sept. 95 Feb.
Texas A Paoifio—1st, 5 g ..2 0 0 0 J & D 85
73 Aug. 91 Apr.
22
13% Aug. 25 Nov.
2d, inoome, 5 g ....... ........2000 March
T o led o * Ohio Oent.—5 g ..l9 3 5 J & J 107%b. 105 Aug. 109% J une
Tol. St. L. A Kan. C.—6 g .,.1 9 1 0 J & D 671s 162 % Aug. T77 Feb.
Union Paoifio—6 g ............... 1898 J & J 103 b. 99 % Sept. 107 May
E xt. sinking fond, 8........1899 M & S 89 b. 73 Sept. 97% Feb.
Collateral trust, 4%........ 1918 M & N
1 47 Deo. 1 54% Feb.
Gold 6s, ool. tru st notes. 1894 F &
A A 100
91% May 100% Deo.
M&
Kan. P a o .-D e n .D lv .,6 g .1899 M
& N 1 1 0 1 4 b. 106 Jan. 111% Ju ly
M&
lsto o n so L , 6 g . ........1 9 1 9 M
A N f 69
156% Aug. I 77% Feb.
Oregon Short Line—6 g.1 9 2 2 F &
A A tllO% 1100 Jam 115 A p r.
Or.S.L.&Ut’hN.—C on.,5gl919 A & O f 66
148 July t 7 0 Feb.
U .P .D en .* G n ll,o o n .,5 g .l9 3 9 J & D 34 b 25% Aug. 40% Apr.
U. S. Cord.—1 s t o o l.,6 g . . . 1924 J & J f 27 b. 114 Aug. t36% Feb.
U. S. Leather—S.E .deb.6g.l913 31 A N 111 b. 108 Aug. 113% Apr.
Virginia Mid.—Gen. JL, 5 s .l9 3 6 M & JSf 10078b. 87 % Sept. 105 Apr.
Wabash—1st, 5 g .................1939 M & N 10614
99 Aug. 109 Apr.
2 d m o r tg a g e ,5 g -----------1939|P * A 71
64% Aug. 77% Feb.
W estN . Y . & Pa.—1st, 5 g .1937 J & J 1 0 6 'ab. 100 Aug. 108% May
Gen. 2-3-48, gold.............1943 A & O 44 b. 33 Aug. 49% Feb.
W est.U n.T el.-O ol.tr. 5 s .. 1938 J * J 108
101 Aug. 108% June
Wiso. Cent. Co. 1st 5 g ._ ..1 9 3 7 'J * J 1 40
125 Aug. 146 Feb.
fr o m actual sales only.
* Latest price this week,
t Trust reoeipte.

NEW YOICK "STOCK EXCHANGE PRICES—(Continued).—IN A C T IV E BONDS -DECEM BER 4
SECURITIES.

Bid.

Railroad Bonds.
(Stock E xchange Prices.)
Alabama Mid.—1st, g., guar. .1928
Atcii. Topeka & Sau Fran.—
unieago & St. Lou.—1st, Cs-1915
Col. Mid. 1st, g„ 6 s.............. 1936
Atl. & Pao.—2d W. D., gu. 68.1907
Western D ivision In com e..1910
1%
Balt *r>bin—1st. 6s, Park B .I919 107

A sk .

SECURITIES.
Balt. & Ohio—5s, gold............. 1925
Cons, m ort., gold, 5 s ............ 1988
W Va. & P itts.—le t, g., 5 s .. 1 9 9 0
B. & O. S. W „ 1st, g., 4% s. . .1 9 9 0
Monon. River, 1 st,g .,g .5 s .. 1919
Cent'l Ohio Reor.—1st, 4% s.1 9 3 0
Ak. &Ch. Juno.—1st, g, 5s, gu. 1930
Brooklyn Elevated—2d, 5 s . ..1 9 1 5
Seaside & B.B.—1st,g,58,gu. 1942
Br’klyn Rap. Tran,—Gold, 5S.1945

Bid.

Ask.

SECURITIES.

92% Brunswick & W’u —1st, g., 4 s .1938
Buff. Roob. & P it t s —Gen. 5 s..1937
Rock. & P., 1st, 6 s ................ 1921
Rooh. & P itts.—O ou s.lst,6s.l922
Buff. & Susqueh.—1st, 5s, g .,1 9 1 3
95
Burl. Ced. Rap. & No.- 1st, 5s. 1906
Consol. & oollat. trust, 5 s ..1934
Minn. & St. L .—1st, 7s, g u ..l9 2 7
Ced. Rap. I. F. & N„ le t, 68.1920
1st, 5 s .................................... 1921
78% 79%
90

Bid.

A sk.

96
*120
*114

117

104
*

105%
103%

100
100

98

THE CHRONICLE,

D ecember 5, ISJo.,
■WErt tfO ttK . S f O O E
S E C U R IT IE S ,

E X C H A .N O E P R I C E S . — I N A C T I V E
|B idA. sk .

S E C U R IT IE S .

1008

B O N U S— r u w n in u e d } — D E C E M B E R

Bid.

Ask.

4,

SECURITIES.

O O a lo —C a l.& C la .!a .la t,4 % a .I9 3 3 j ------S c a n s . * In d ia n .—-1 st, e o n s - 1 9 2 6 107%
N o rth e rn F a o id o —
96
a m i R R . * B a n k . - t e l . g .fe .1 9 3 7 ] 9 4
F lin t s P, M ara a e t te D ai. A M an.—ls t,g .6 s ,tr .r e o .l9 3 6
O snt. o f S . 1,—Ccniv. d e b .. 0 8 .1 9 0 3 !
M o r t , S»............... ......................1 9 2 0 112
D ak. D iv .—1 s t 6s, t r . re o .,1 9 3 7
C e n t F a e t t e —S o ld b o n d s , 6S.1897 102% 1103
1 s t, eo n . g o ld . * 9 .................. 1939
82
85
ricenr d ’A lene—1 s t , 6 s ,g o ld .1 9 1 6
S o ld b o n d s. 6 s ........................ 1898; 1 0 3 ;103%:j -Pt, S ttro n D iy .—iB t, 5 s ___193S
75
80
C. d ’A le n e —G an, l s t , g . , 6S ..1988
9 a n J o a q u in Br., 6 8 .........
1900; 101% — j ria. C en & P e n ,—l s t g . 53— 1918
C ent. W a sliln g to n —ls t.g . ,6s. 1938
H u rt, g o ld 5 s ............................1939. 9 0 i..........(! 1 s t e o n . g „ 5 s ............................1943
N o rfo lk & S o u tii’n —1 st. 5 a ,g .l9 4 1
99 ! ........ | •t. W o rth A R. G .—1 s t g „ a a - 1 9 2 8
L and g r a n t. 5», g ......................1900
50
N o r f o lk * W e s t—G e n e ra l, 6 s .1931
E x t. g . 5s, aeries 1 B C D ..1 8 9 3 I t 0 !..........i! G al. H a r. A S a n A n t,—1 s t, 6 s . 1910
N ew R iv e r 1 s t 6 s ................. .1 9 3 2
C a t A O. M y ., e x t ,, g . 5 s . - . 1 9 1 8 ' 101
,, 2 d m ore., 7 a ........... ................ 1905
95
Im p . & E x t ., 68.........
1934
W est. P a e itle —B on,is, 6 s ---- 1899; 1 9 1
..........:G a. C a r. & S o r .—1 s t, g a . 6 s , g .1 9 2 9
A d lu s tm e n tM ., 7 s ........... ..,1 9 2 4
No R a ilw a y (C aW —1 s t, 6 s . 1907
H o u sa to n io —C ons, g o ld 5 s__ 1937 120%
M d . & W ash. D iv.—I s t,g .5 s .l9 4 1
5 0 -y e a r 5 s . . . ..........................1938 •9 1
if. H a v e n * D e r b y , O o n s,5 s ..l9 1 8 *105
S e io to V a l. A N . E —1 s t,4 s ,.1989
■Saea. & O .—P a r . ML S an d , 6 « .1 8 9 S 103%
KohB, A T e r a s C e n tr a l—
O hio & 5083.—
Qt&Sg V a lle y —l a t , g ., 5 a . . . . l 9 4 0 ;
W »eo & N . 7 e ..................
1903 125
C onsoL 7 s . ..................
1898
W a r n S p t. Y a L , 1 s t, g. 5 a . .1 9 4 1 •9 3
l 3 t g . , 5 s (in t. g td ).................. 1937 108
Z d e o n s o l. 7 s ............................ 1911
C lg e . O. ds So, W est.—1 s t 6s» g .1 9 1 1 .
C ons. g. 6 s (ln t. g t d ) ............. 1912 100 % 105
S p rtn g .D iv .—I s t 7 s ____ ,...1 9 0 5
a d , 6«.........
ta n
D e fte n t. 6 s, p rin . & i n t, g td .1 8 9 7
95
G e n e ra l 5 s.................................1 9 3 2
Oh, Y 7 -G e n .o o n .l3 t.g n .ic ,5s. 1933
D e b e n t. 4 s, p rin . & in t. g td .1 8 9 7
O hio R iv e r R R .—1 s t, 5 s ........... 1936
C h ic a g o & A lto n —8 , F ., 6 s -----1903'; 112%; --------I llin o is C e n tra l—1 st, g „ 48— 1951 108
G en, g . , 5 s ........................... . .. .1 9 3 7
■.on!*. A M o. R iv e r—1 s t, 7S.1900, l i’t ; i i 3
1 s t, go ld , S % a ........................... 1951
O m a h a & 81, L o u is.—1 st, 4 s .. 1937
M , 7 s ........................................ 1900; 103
G o ld 4 s .....................................1 952
O re g o n & C a l lf o r —l a t , 5 s, g .1 9 2 7
S t. h . J a c k s . & Okies.—2 d , 74.189*
2 -1 0 g „ 4a .................................1904
P en n -P .C ,C .& S fcL .0 n .g .4 % sA 1 9 4 0
MIs a K. B rid g e —1 st, » .f., 8a. 1912 100
C a iro B rid g e —4 s ......................1 950
Do
do
S e rie s B ..........
O slo B a r t A N or.—1 s t , 5 s —..1 9 2 6
S p rin g !. D tv .—C oup., 6 s ___1898
P .O .& S .L .-ls t,c .,7 s ..................1900
D ebe s t a r e 6 « . ______________ 1 3 9 !
M id d le D iv .—R eg ., 5 s . ...........1921
P itts . F t. W . & G —1 st, 7 s .. .1 9 1 2
C b le . B a rlin g , A Q,—5s. s. f.,1 9 0 1 ; i o o l ____
C. S t. L. * N. O .—T e n .l., 7 s . 1897 *102
2d, 7 s ...................................... 1912
io w a D iv ,—S in k , f u n d , 5 s . .1 9 1 9 ; 106
la t, c o n so l., 7 s...... .............—1897 *1 0 2
3 d , 7 s ........................................ 1912
S ta k in g f o n d , 4 s .............
1919! .........i 98
G old, 5 s. c o u p o n ..................1951 118
C h ,8 t.L .& P ,—ls t,e o n .5 s ,g .. . 1932
P la in , 4a ..................................... 1 9 3 1
M em o. D iv ,, 1 s t g. 4 s ____1951
O lev. & P .~ C o n s .,a . fd ., 78- 1900
Okieagr, A Io w a Div*.—5 # — 190S|
B e lli-.* So. IU., g n „ g., 4% s 189' I
Gen. 4 ig g p <<
1942
*99% 100
L:; .. z i;o., - i s ; .YCod. F i l l s A a lin n .—1 st, 7 S ..1 9 0 7
S t, L . V . & T . t i ’. - l s t , 6 s „ 7 s . l 8 9 7
OaS. Mil. A S t. P , - l s t ,8 s , P .D . 1 8 9 3 1 0 5 % !l0 7 % In d . D . & 8 p r,—1 s t 7 s , 1 9 0 6 , t r u s t
2 d , 7 s ........................................... 1 8 9 8
2 1 , 7 3-108, P . D - ...................1398 = 127%
r e e ls ., e x b o n d s ......... .................... .
2 d , g u a r . , 7 s ________
...1 8 9 8
l r t . 7*. $ Z , B .D ...................... 1903i 129 132* tn d . Deo. A W.—1 s t, g . ,5 s
1935 101 102 %
G d .R ,& I .E x t.—1 s t , 4 % s ,G .g . 1 9 4 1
l i t , I. A M., 7 s ......................- 1 8 9 7 ; 127
In d . Ills. A Io w a ,—1 st, g, 4 a ..1939
80
P e o r i a & P e k . U n io n —1 s t , 6 s .1 9 2 1
l i t , l. * D .,7 « — ................1 8 9 9 ! 128
1 st, e x t., g. 5 s . ........................1943
2 d m o r t g ., 4 % s ......................... 1 9 2 1
l i t . C . * M „ 7 e . . . .....................1903 128
In t. A 9 . S n . - S d , I s . g ____ 1921
23% P i t t s , C le v e . & T o l.—1 s t , 6 s . . .1 9 2 2
l i t , I. A 11. E x t e n s io n ,7 a — 1 9 0 8 130%
K la g a C o .-F .E l.,l» t,o ,g .,g n .A .1 9 2 9
P i t t s . A L . B r . —2 d g. 5 s , " A ” .1 9 2 8
37
L ak e E rie & W est.- 2 d g„ 5 s . 1941 1 0 0 % 103* P i t t a . M o. K , A Y .—1 s t 6 s . . . 1 9 3 2
i « , I.* C. A D a y ., 5 * ........... 1919! 109%
.,127% : N o rth ’n O hio—l e t , g o . g. 58.1945 102
1 st, H M D „ 7 s .......................1 9 1 0
P i t t s . P a in s v . & F . —l a t , 5 a . . . 1 9 1 6
1 « , B . * U , , 5 s — .................. 1 9 1 0 '
8 . A ••(.Sou.—B .& E .- S e w 104
7 s .’98105% P i t t s . 8 h e n .& L . E . - 1 s t , g . , 5 s . 1 9 4 0
*i L .
ttto a e o A Paolfla t n v . , 6 s . .1 9 1 0 1 1 7
1 s t o o n s o l. 5 s ................................1 9 4 3
DM. M. A T .—l a t , 7 « .............. 1906
M ineral P o in t D I t . 5 » .............1 9 1 0
Uttke S h o re —D tv . b o n d s, 7 s . 1899 106 107% P i t t s . & W e s t.—M . 5 s , g . l 8 9 1 - 1 9 1 1
P l t t s . Y ’g s t ’n & A .—1 s t , o s , e o n . l 9 2 7
a A U S u p . D iv .. 5 » ...............1921
II K ,u. A U .A 9 .K - —l8 tg n .5 s .1 9 3 S
fh tg O A S o o th ., 8«, A 3 J ta ...l9 2 4 1 0 6
R io G r a n d e S o ,—1 s t, g ., 5 s . ..1 9 4 0
11 M a h o a 'g C o al B R .—1 st, 5 9 .1 9 3 4 T 1 8
n s. c o n e , s in k , f u n d , 5 s . .. .1 9 1 6
;Lei! Igii Yd.5 . Y. - 1 s t g n .g .4 %s. 1940
98 102% 8 t. J o s . & G r I s —2 a in o ...........1 9 2 5
K a n . C. & O m a h a —1 s t, 5 s . . 1 9 2 7
D akota, A O V S o u th ,, 5#-----1916; . . . . . . 109 ; IL e h ig h V .T erm .—1 s t g a , 5 s ,g .l9 4 1 109 110%
:= 3:
M il A B o r, m a in U se —S o ... 1910; . . . . 1 1 8
B t L . A . A T . H . - T e r m . 5 3 . .1 9 1 4
O jic -A S o rw ,—3 0 -v e a r d * b .5 * .l9 2 1 107%; . . . . .
B eU e v . & C a r .—1 s t , 6 s ........... 1 9 2 3
■ii A S .Y '.- I x t, gu. g. 4s. 1945
92
C h l.S t.L .A P a d .— 1 s t,g d .g .5 s 1 9 1 7
S s e a n a b a * L. ». 1 st, lie ....1 9 0 1
U tin ir a O .A 5 '.,ls L g .l» tp I.6 s .l9 1 4
G u a r., g o ld , 5*................ ... 1 9 1 4
(>«« M. * M in n .—1 s t,7 * —.. 1907!
8 t . L o u ie S o .—1 s t , g<L g . 4 s . 1 9 3 1
.......... !;
do
2 d in c o m e ,5 s . 1 9 3 1
l , «•» M id la n d —I n , $%...........I900i
l,!"'■ r
—i • : g. IDUi
O a r. A S h a w t . —1 s t g , 4 s ___ 1 9 3 2
O tis , & M ilw au k e e —la s , 7 * . 1898= •104% i —
L ittle K ook * M.—1s t, 5s, g - 1 9 3 7
S t. L , A 8 . F . —2 d 6 s , g „ o l. A . 1 9 0 6
V ia . * SL P .—2 d , 7»— ...11*07; • ..........128
IL ong Is la n d —1 st, 7 s ................1898 101 %
2(1, 6 s , s ., c la s s C ......................1 9 0 6
89
4 8 , & M ad .—l o t . 6 * .......... -1 9 0 5 :
) F e rr y , 1 s t, g „ 4*»».................. 1922
G e n e r a l 5 s ................... . . . . . . . . . 1 9 3 1
O M .C .F . * 8 t . P .— 1*1,5*. 1909!
G old I s — ..........................- . 1 9 3 2
l e t , t r u s t , g o ld . 5 s .................. 1 9 8 7
A o rth e ra 111—1 s t, 5 s ............1910i *105%:—
! N . Y . A E 'w a y B. - 1 s t , g. 5 s . 1927
F t. 8 . A V. B . B g. - 1 s t , 6 s . . . 1 9 1 0
42%
M il L. 8 .A W .- te n .d * b , ,5 * . 1907
-------. . . . . . j
2 4 m o rtg ., in o ........ ............ ..1 9 2 7
35
K a n s a s M id la n d —1 s t , 4 s , g .1 9 3 7
.1924; 1 2 6 % ;.........3 H .Y .,y M a a.B each .— 1 st, 7a, 1897 '103
M ira . » |v „ l* t» 6 A .
8 t . P a u l C ity B y , e o n . 5 s , g . : . 1 9 3 7
A sa U i. l o ta ia io n —1 st, fts 1925 125% ; —
N. Y .B .A M .B .—ls t c o n . 5 s ,g .l9 3 5 102%
G o ld 5 s , g u a r ....... . .............. . 1 9 3 7
O b .B .L A P - D .M .A P .D .l» t4 a .l9 0 5 | 8 3 '
B ro o k l'a A M o n ta u k —1 s t,6 s.1911
S t. P a u l A D u l u t h —1 s t , 5 s . . . . 1 9 3 .
*60
W t, «% 4......................... .........1905;
■ ■ ■ L ,,
1 st, fl» ...................................... 1911
2 d m o r t e a g e 5 » ...........................1 9 1 7
U z m m to n * 4 1 9 0 5
; 80% ;......... : S o . s h o r e B r.—ls te o n .5 iu g .1 9 3 2
8 t. P a u l M in n & M .—1 s t , 7 s . . 1 9 0 9
40
33
K m tm M & '& m M .~ l » t,5 » ..1 0 2 3 lnO
___ L o a ls .B v a n s.& S t. I* —C o n .e s. 1989
2 d m o r t , , 6 s ................................... 1 9 0 9
11U
........i t s i i i * . * N a sh .—C ecil. B r. 7 a . 1907
G5j.ie.ttL F» A H i n a u l t t, S«... i 018 128
M ln n e a p . U n io n —1 s t 6 s . . . 1 9 2 2
S t. F a o i <ieS.
6 # .....1 0 1 9 : 128
30% I E, H , , t N a sh .—1 s t 6 s , g — 1919 110
M o n t. C e n .—1 s t, g u a r . , 6 s . . 1 9 3 7
.....
... , . . . . . . i P o o e a eo ia D iv isio n , 6 « .......... 1 9 2 0 110
<3*l«3, A W.
«. t . S i . m f i !
1 s t g u a r . g. 5 s .........................1 9 3 7
a t. L o u is D iv isio n , 1 s t, 69— 1921
10321 • U 5 % !..........
E a s t . M in n ., l e t d iv . 1 s t 5 s . 1 9 0 8
2d, 3 s ........................................ 1980
CW©» A W m t.
........1021
W
” u n r & 8 i o u x F .—1 s t , g , 5 s . l 9 3 s
110
N a sh v . A D e o a tu r—l a t , 7 s . .1 9 0 0
113
Ole m m . A 0 . - O o a . *. t , 7#a@ 05
S a n F r a n . A N . P . —1 s t , g „ 5 s. 1 9 1 9
R I „ e * .—8 . A S . A la .............. 1910
H * w te * 4 % w , . * . , . 1037}
S
a
v
.F
i.& W e s t. - 1 s t , c o n . g ,6 s ,1 9 3 4
i
o
o
"
l l i u t>, h
gXL 5 s, g* 1041; 107%; 108
' 9 -y e a r 5 s , g .,— ...................... 1937
98%
S o u t h e r n —A la . C e n t ., l a t 6 6 .1 9 1 8
98
e n s. A A t.—1 s t, 6 s, g o l d . .. 1921
O ta r. 44* A C o ^ - E q . h 2 4 f» . 10301
A
tl,
A C h a r . —1 s t, p r e f , , 7 s . . 1 8 9 7
.
..
..
.
SO ; * o lla t. t r n r t , 5a, g ................. 1931 ‘ 95
C k » T J D i a . - 'f f 4 f i f i i w U t 5 4 l i 171 75
I n c o m e , 6 s . .............
1900
U *N . v
l9 t,g .,4 ‘9 8 l:lio ****** 104%
Q*y. €, * 6L
f . 4a.. 1933j
C
o
lttm
. & G r e e n .—l a t , 5 - 6 s . l 9 1 6
75
N a sh .F lo r.A 8 .—1 st, gru, 5 s . 1937
C a iro d iv isto fi, 4*. . . . .
......... SO
E . T e n a .V . A G a . - D i y t s . o s 1 9 3 0
89
K e n tu c k y C e n tra l—4s. g . .. 1987
86
fyLoti-XH t .—lato o L ta*t4a. f . 1 9 9 0 : 92 1........ .
R i c h . A D a n .—B%. s. f, g . 5 s . l 9 0 9
. s,a .A J e !l. B dgO t'o.—U u .g .ls 1945
t 6 f i B 4 4 0 a l ^ r . * ' l < t | s 4*. 1940;
D e b e n . 5 s , s t a m p e d ...........1 9 2 7
Lou.N '.A ih.A C h.—G e n .m .g .5 s .l9 4 0
45
m r . —i« t,c . 4*. i n t o
40
V ir ’a M id .—S e r i a l s e r .A , 6 8 .1 9 0 6
M em p h is A C h ari,—6 s, g o ld ..1 9 2 4
Dili, Wab, M.XH.¥. ■
—1st
. 1991!
S e r ie s B , 6 s .............. ................1 9 1 1
M ex ic a n C ent, C onsol.—4a, g. 1311
!«, X ttX L* 4 €*—*l*X«.,4«.193*:lj »7
93
S e r ie s C , 6 s . . . ...........
1916
1 s t, c o n s, in c o m e 3a, g------.1 9 3 9
©ftsel , tiS:
. ..* ,,.1 9 2 0 ;
S e r ie s D , 4 - 5 a ......................... 1 9 2 1
M, x. I n te r n a tio n a l—1 st, 4 a ,g .l9 4 2
A0L —
ISSS' I 105
S
e
r
ie
s
F
,
5
a
...............................
1
931
!
IM ex lo aa HatioB-ai—l a t , g., <
Indiana B- * w.~l»4 gXX»*i:M0f
W a s h .O .A W .—1 s t o u r . g u , 4 8 .1 9 2 4
1 __r1.TI j 2 d » in c o m e ,0 « , **Af'.......
O hio l& A M W, —1«t pi£*©.?, 5®*, 1#3$] _T_ ■
T
e
r.
A
a
’n
o
f
8
t
.
L
.
—1
s
t
,
4
%
s
.
1
939
1 2*1, in c o m e , 6 a , “ B ” . .* , .
C . Cfel 0Bk. * ! a i - l n 1, 7a,«X X 89X 1 0 5 4
l e t , o o n , g. 5 s . . . . ..........1 8 9 4 * 1 9 4 4
.1 9 0 9
CJeuternl—6s
.enaaot *la%. i a a d . 7U . ..***1914?
j..........j
8
t
.
L.
H
e
r
.
B
r
.
T
e
r
m
„
g
,a
s
,g
u
.
.l
9
3u
.1 9 3 1 T 1 5
—U t,C.C.<5 .arf«7»*M 0i‘
T e x a s & N e w O r le a n s — l s t , 7 s . 1 9 0 5
d i e m fjr im in A W ie —*l#ty
I0 t
1 0 4 i{ M o r tg a g e 4 a .. . . . . . . — -S
a
b
in
e
D
iv
is
io
n
,
1
s
t
,
6
s
.........1
9
12
4 Maft. IT,—-C4oi
\.
C o n s o l, o s , g ...................
1943
M iu o .& S t, L.-—lil» g. 7 a .. . . . . 1 3 2 7 134
Oii, xaelu &w*—Mon- ?».«*„i@07j
T
e
a
A
F
a
c
.,
E
,
D
.—1
s
t
,
g
.
6
s
.l
9
0
o
ttyf#.
17f.l90O j
Io w a K x t0S.fiioBfe' 1 s t,7 s ........'
1 st 5 s, 1937
ftoathwest ErL—1st, 78,..*. i9io: 120 125 TT h. &i rOd .CA .v-eKnauae. A(NM.Y.,).—
m&rzM A 'Bwmsjc—I k 7 s . . . . 1914: 139
M
o
r
t,
4
8
.1
9
9
0
PM tSe Ext.—1st, 6a......... 1921 120
s&oaita, 7 k .«».», ** . —#..*■*♦* 1 9 0 0 j 110 1112
T o l. P e o . A W est.— l e t , g ., 4 s . 1 9 1 7
M 0.K .A T a x .—1 st, e x t,, 5s, £.'.1914
»» o f 1 8 7 1 . . . . . . . . . . . . . . . . . 1 9 0 1 1
U
l
s
t
e
r
&
D
o
!.—1
s
t
,
c
o
n
.,6
.,S
s
.1
9
2
3
M o .8 L & T .o IT e A ls t,g n .5 A g .l9 4 2
76
' it* oosu. j§na>r,, 7 a . 1915] 13
i 188
U n io n P a o ttio —1 s t, 6 s ........... . . 1 8 9 6
63
70
K a n sa s C ity A F ., 1 s t,is ,K ..1 9 9 0
A'anrsQ -2d, 7 b . . . . . . . . . . . . . 1 9 0 0
1 s t, 0 8 ........................... ................. 1 8 9
83
£H,r,*00ap.7§. 1917]
i.iai. A W aco—1 s t, 8 s , g u —..1 9 4 0
1 s t , 6 s .............................
1899
80
4 ttw<j —l i t , g o ..........~ 1 2 3 125
M isso u ri P acltio —T r u s t 5 s —.1 9 1 7 •6 5
C
o l l a t e r a l T r u s t , 6 s ................. 1 9 0 8
l
CO':- f * if fia f., 0 * , , ... 1 9 0 6
1st C<*U.,5ft, « . . . ........... .,1920
C o l l a t e r a l T r u s t, 5 s ................. 1 9 0 7
%8
1
coup. 7*. U>21 ■'.—
I—iii* 8t L.AI. M.-Ark.Br..lst,78.1896 *98
K a n s a s P a o id o —l s t 6 s , g . ,.1 8 9 5
Mobile A O hio—1st ext., 6s.„1927
1Re«'X'wajr—Coq». 6< g .lttlQ
l a t , 6 s , y ........................ . . . . . . 1 8 9 6
8 t. L. h C a iro —4 s, g u a r ---- .1 9 3 1
l^lforoL Ey.—1st,* , g .6 s .l9 U i
, 7 s . . . . . . . 1895
&tm% A E- #< J p ., g., S » ,- 1 8 2 8 83 85 Morgan's La. A T.™1st, (is— 1020 l1i20e ___ r 0A. tcBhr.. CUo l.P&. -PFa.cc. .—1
s t , 6 S ...1 9 0 5
l a t , 7 a ............................................1918
. 3 % s,ser,A .1 9 1 1 i
18
X 4 M#—
A
te
ll.
J
.
C
o.
A
W
.
—
1 s t , 6 s . ..1 9 0 5
en , 4 g ..,1 9 S 5
95 ,8a*h. Chat. &8t, L.—2d, Os..1901 105% 107
DeA A M ac!
TJ. P , L i n . A C o l.— X s t,g .,5 s . 1 9 1 8
K. O. ,t. No. b. - S t . L, 6s..1915
4*. g o ld . . .
U t a h & N o r th .— l o t , 7 e _____ 1 9 0 8
N. Y. Central—Deb. g. 4s....1905 l o i 5
1 s t 5 s. 1937 100 [101
D a ia t n A I to
G o ld , 5 s . . . . ................. . . . . . 1 9 2 6
J. Jane—Guar. 1st, is...198b
102% 103
K rto—lev. s t t
U
t a h S o u t h e r n —G e n ., 7 s ..1 9 0 9
Beech Creek—1st, gold, 4s..1936 103%
....
...1 9 1 9 U S
B x t e n ., 1 s t , 7 a ------ . . . . . . . 1 9 0 9
Osw.
A
Rome—2d,
5s,g.,gn,1915
f 4 % ^ ..* ,....
108% ...»
V a lle y B 'y C o. o f O .—C o n . 6 s . 1 9 2 1
Utica & BL f'.iv,—in, , gn,1922 103
114 I . - .
W a b a s h —D e b e n t u r e , 8 e r . A . .1 9 3 9
N. Y. & Fat,—1st, g., 4». gu.1993 100
t i i . . . . .. ... 1 9 9 8 *100
D e b e n t u r e , S e r ie s B ..........., . 1 9 3 9
Y. N. H. AH.—1st, rev.4s. 1903
m » 7% * ,* . ...1 9 2 0
D e t. A O h io . E x t . 1 s t , 5 s , g . , 1 9 4 0
Y. A Northern—1st, g. 5s.. 1927 *110
B . 9 . ¥'• A I t —1 * t,7 « a ...***1916 13
S t L .K .O .& N .- B t.C .B d g e 6 s .l9 0 8
.in*. Y. 8asq. A West—2d, 4%s.l937
B if., A 8, W ,- M o m , b §., * ..1 9 0 8 106
a .,g e n .g . 2 - 3 A S .1 9 4 3
flon. tnort-jSs, ••.......
liMO '7 0 % 72 I W Iensct oNm.Ye .&5 s P.........................
sr. 8n .. ,..1 9 0 0 101 106
t l •tf
......1 9 4 3
92%;
Wilk-ifeEas*.—1st,gtd..g.5s.l942
rj>*i h H E.—?M**.«*%♦»»
W e s t. V », 0 . A P i t t s . — 1 s t, 6 8 .1 9 1 1
Hortbero Pao,—
A f %&p%,,l» t 6g, o u r1CV.1913 105
W
h
«
fli.A
T
,.E
.—1st*
F,s
.
v
o
id ...1 0 2 6
39 j
J a ii ie s R iv e r V a l.—1 s t, O s... 1936
:
4 T .S a
0a, 1921 108
111
W h e e lin g D iv ., 1 s t , 5 s , g . . . l 9 2 8
8 p o k » n e & F a !.—1 st, 8 s .....1 9 3 6
xst, vdtteral,
.,...**1042; *90
E
x
to
u
S
io
n
A
i
m
p
,
g
.,
5
s
........ 1 9 3 0
8 t,F a n l A N, P.—G e n ., S S ..1 9 2 3 1 22 125%
M L V e rn o n J I 8*
........ 1 9 2 3 1 .........1102
Uvis. Cent, income 5 s. . . . ...1 9 3 7
H e le n a A ii-ii VI';; —iM t.g ..6 s .l9 3 7
SleiX
E f 1 K <£** SKt
* Nr, prion Friday; these are the latest quotations made tuts week. F o r M l»celia 1100us (Bonds—See 3d page preceding.

Bid.

Ask.

81
81

83
83

100

65
82%

66%
82%

105

110%
98

io o ’
- 35"
*77
108

108
137
137
110
i0 3 ‘

IOO* 102
110

75

77"

•92% 94%
's o

*62% 63
i'02%
102%

110
110

96% 96%
90
105%

102%
108 111

116% 118
*115
101

116

104%
98

111

’ 93“

98

80
*105
105

fo r

93

106

122

78
71

74
100%
102 % 103
IOO

102%

103%

105
108

107

111
35

30
20
114% 118
-6 4

60
05

22% 25
*96% ' . . . . .
*102 ”105%
44
14
13

THE CHRONICLE.

iUUi

[V O L . L X I I I ,

L atest Gross E a rn in g s.
R o a d s.

J u u c stm e u t
AND

g a x lr x r a d

I n td lig c u c e .

RAILROAD

EARNINGS.

The following table shows the gross earnings of every
STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the
gross earnings for the latest week or month, and the last two
columns the earnings for the period from January 1 to and
including such latest week or month.
The re tu rn s o f the street r a ilw a y s are b ro u gh t together sep­
a ra te ly on a subsequent page.
L a test Qross E a rn in g s.
R o a d s.

Week or Mo

18 9 6 .

1895.

J a n . 1 to L atest Date.
1895.

18 9 6 .

$

I

$

149.<U0;
149.637
1 8 ,4 2 3
2 0 ,8 9 4
Adirondack....... Septemb’r.
4 2 ,0 3 2
4 2 ,9 3 8 1,316,505 1,411.*58
Ala. Gt. South.. 3d wk Nov
4 d8,533
386,113
6 2 .6 2 5
51 ,0 6 8
Ala. M idland... septem b’r,
Ala. N. O.Tex. A Pao. June. Jt
3 0 .0 0 0 1,086, ,779 1, 1 2 0 ,4 5 3
2 3 ,0 0 0
N. Orl. A N. E. 1st wk Nov
11.000 479,,156 435,467
Ala. & Vlcksb. 1st w kN ov 1 1 5 .0 0 0
434.167
461. ,29 t'
10,000
Vicks. Sh. A P. la tw k Nov !g 9 ,0 0 0
205,401
2
5
7 ,2 0 7 1,965, ,290 2, 1 2 1,377
O
ctob
er...
A llegheny V al..
9 8 5 ,1 2 2
2 4 ,8 4 2
2 2 ,0 0 5 1,013, ,426
Ann Arbor......... 3d wk Nov
0 8 .4 7 3
65, ,020
8 ,7 2 s
11 ,6 8 1
Ark. M idland... Septemb’r.
,291,467
3 ,0 5 3 .0 5 2 3,036,182 23,993, 487
Atch. T. & S. Pe. October.
,137,416
071
1
,
110
,
1
4
9
,9
0
2
Septemb’r.
1
4
4
,5
4
2
A tlanta & Char
3 2 7 .7 7 8
371, ,933
5 1 ,5 0 4
4 5 .0 5 7
A tlanta & W. P. Septemb'r.
5 0 4 ,6 8 6
499,,141
1 2 ,7 6 2
10,111
Atlan. A D a u v .. 4th wkNov
9 0 1 ,7 3 5
9 5 ,8 9 0
8 9 ,1 7 7 2,908, ,485
A tlantic A P ae.. 4th wkOct.
37,128
,407
54,
9
,9
1
3
Septemb'r.
7 ,1 0 4
A ugusta Sout’ii.
1 8 2 ,0 9 7
190,,975
2 7 ,8 0 5
2 4 ,8 5 8
Austin A N ’ west Septemb’r.
4
3
0 .7 7 9
,469
417,
3
9
.6
0
0
4 4 ,1 0 0
Bale. Ches. & Atl. O ctob er...
1 ,8 5 7 ,6 1 5 1 ,7 0 8 ,6 2 0
B.& O.K. O.Kiv. October,
West.OhloRiv. October. .. 5 1 5 ,6 4 2 5 6 1 .7 2 6
Tot. sy stem . October. 2 ,3 7 3 ,2 5 7 2 ,2 7 0 .3 4 6
Bal. & O. Sou’w. 4 th wkNov 1 3 0 ,3 9 1 1 5 8 ,9 9 0 5 ,5 6 5 ,9 9 4 5 ,8 8 4 ,0 6 8
5 3 6 ,6 8 1
5 1 6 ,4 6 2
7 3 ,0 4 1
6 8 .5 3 2
Bangor AAro'ost Septemb’r.
1 9 ,586
19,0 9 2
4 ,3 8 8
4 ,0 6 3
Bath & Ham ’nds Septemb’r.
1 7 ,7 3 0
19 ,0 5 8
2,5 2 4
3 .0 4 0
Bir. A Atlantic. O ctober...
Brooklyn Elev. S e e S t r e e T R a i l w A T LIST.
3 t0 ,2 8 5
53,4 6 9
4 4 9 ,5 0 7
4 9 ,0 0 7
Brunsw’kAW est Septemb’r.
7 4 ,3 6 5
70,1 2 1 3 ,0 0 7 ,9 7 1 2 ,6 9 8 ,3 8 6
Buff.Rooh.APitt 3d wk Nov
3 5 1 ,1 0 4
4 4 4 ,0 5 5
6 0 ,4 2 0
4 6 .5 3 2
Buffalo A Susq.. O otober...
8 9 ,6 2 2 1 0 9 ,5 4 8 3 ,9 8 7 ,0 4 0 3 .9 2 5 .7 4 8
Bur.C. Rap. A N. 3d wk Nov
5 8 2 .0 0 0 1 8 ,7 4 6 ,0 4 2 1 7 ,0 1 6 ,4 2 0
CanadianPaeiffe 4tl) wkNov 533.001
4 1 ,5 6 5
7,2 7 3
5 0 ,1 3 8
Car. M idland... October.
6,8 3 1
Cent, of Georgia Septemb’r, 4 6 9 ,6 8 8 4 5 4 ,9 9 8 3 ,6 2 0 ,0 3 4 3 ,4 4 9 ,7 7 3
Central of N. J. O ctober... 1,263,807 1,257,871 1 0 ,4 8 5 ,7 3 4 1 0 ,7 65,791
Central Paciflo. Septemb'r, 1 ,2 19,011 1 ,2 2 1 ,3 9 5 9 ,1 1 8 ,5 3 5 9 .5 3 9 .7 4 9
3 4 ,8 0 1
4 1 ,4 1 5
3,9 1 7
Chari. Cl. A Hut. Septemb’r.
5 ,1 3 6
3 6 ,7 7 4
4 0 2 ,9 1 8
Charlest’n&Sav.'Septemb’r.
4 2 3 ,9 0 3
3 0 .5 2 4
2 8 4 ,8 7 9 2 2 7 ,2 8 3 9 ,3 4 8 ,0 4 4 8 ,8 6 8 ,7 0 6
Ches. A Ohio__ 4th wkNov
1 7 8 ,5 7 2 1 9 6 .8 1 8 1 ,2 8 2 ,5 5 3 1 ,2 9 5 ,4 8 4
Ches. O. A So.W. J u ly .........
Chic. Bur. A Q.d October. _ 3 ,7 7 3 ,8 0 9 3 ,6 6 9 ,1 5 8 2 8 ,3 9 8 ,0 9 4 2 7 ,5 3 1 ,4 8 3
7 7 .6 0 0
Chic. A East. ill. 4th wkNov
7 9 ,5 0 0 3 ,4 7 3 ,2 3 1 3 ,5 0 8 ,3 3 1
83,5 3 8
Chic. Gt. W est’n 3d wk Nov
9 3 ,2 6 2 4 ,1 8 3 ,2 5 6 3 .5 9 7 ,8 3 8
Chic.Mil. A St. P. 4th wkNov 7 5 5 ,2 1 0 9 0 6 ,8 0 4 2 8 ,7 8 1 ,5 0 6 2 7 ,8 4 3 ,3 4 6
Chic. A N ’thw’n . October. .. 3 ,3 0 9 ,7 0 7 3 ,7 7 4 .5 9 0 2 7 ,2 5 1 ,8 8 5 2 5 ,8 0 1 ,2 4 5
70.109
5 6 6 ,7 1 5
6 1 3 ,2 9 6
Chic. A No. Pao. Septemb’r.
6 2 ,3 6 8
7 7 2 ,2 5 4
2 0 ,8 9 8
Chlo.Peo.ASt.L. 4th wkOct.
7 4 9 ,5 7 6
2 6 ,6 2 2
Chie.R’k I . A P .. November. 1 ,2 0 1 ,6 3 6 1 ,3 9 9 ,7 7 4 1 4 ,1 8 4 ,5 6 2 1 4 ,0 7 5 ,9 ?2
Chio.St.P.M.AO. O ctober... 1 ,1 1 7 ,2 6 2 1 ,0 4 4 ,0 9 3 6 ,7 4 4 ,7 7 5 6 ,0 1 8 ,1 1 5
2 8 ,3 3 4
Chic. AW. Mich. 3d wk Nov
2 8 ,7 9 7 1 ,4 6 0 ,5 4 8 1 ,5 4 0 ,8 2 0
5,4 0 3
5 1 .2 8 2
Cin.Ga. & Porte. O ctober...
5 5 ,5 6 8
6,7 5 1
1 3 ,4 4 0
Cln.Jack.A Mac. 3d wk Nov
5 5 9 ,9 2 4
6 2 6 .1 6 5
1 4 ,1 6 8
O in .N .O .& T .P . O ctober... 3 0 8 ,1 4 2 3 5 6 ,8 8 1 2 ,7 8 7 ,3 2 0 3 ,0 2 2 ,2 3 6
Cln. Ports. A V . O ctober...
2 2 8 ,4 6 7
2 6 .3 5 3
2 2 7 ,7 9 4
2 8 ,6 0 6
C lev.C an.A So.. 3d w k N o v
13.315
6 0 4 ,1 3 0
6 3 6 .1 2 3
1 5 ,8 2 6
Cl.Cin.Ch.ASt.1. 3d wk Nov 254,102 2 8 8 ,6 3 2 1 1 ,4 9 4 ,8 8 2 1 2 ,4 8 0 ,5 4 4
Peo. A East’n . O ctober... 140,385 1 9 6 ,5 7 4 1 .4 3 8 .6 2 9 1 ,6 5 1 ,1 3 1
Cl. Lor. A Wheel. 3d wk Nov
2 2 ,5 8 1
3 7 .9 9 6 1 ,1 7 6 ,3 3 6 1 ,3 1 0 ,5 6 5
Col. Midland___O otober...
1 5 7 ,8 2 0 1 7 5 ,435 1 ,5 2 6 ,5 7 8 1 ,4 2 9 ,9 4 0
Col. H. V. A Tol. A ugust__
1 9 8 .5 8 8 2 5 7 ,3 3 5 1 ,6 2 4 ,4 3 5 1 ,5 5 0 ,3 3 7
Col. Sand’v A H. 4th wkOct.
2 5 ,9 7 0
7 1 9 ,4 9 4
6 8 0 ,5 1 4
2 9 ,2 2 3
Colusa A Lake.. October.
3 ,5 0 0
1 6 ,077
1 6 ,6 9 1
2 ,4 0 0
C rystal...............Septemb’r.
505
6,322
9,2 1 3
1,231
Cumb’l’d Valley Septemb’r.
7 6 .3 1 5
6 2 0 ,0 3 4
6 2 2 ,8 8 6
8 4 ,6 7 9
Benv. A Rio Gr. 4th wkNov 1 7 6 .7 0 0 1 9 6 ,6 0 0 6 ,6 5 7 ,6 6 4 6 ,6 5 0 ,4 1 4
2,211
D eeM . AKan.C 1st wkNov
8 2 ,676
9 7 ,0 9 4
2 ,2 6 7
D ee.M .N .A W .. O ctober...
4 3 .4 6 6
370,16i>
3 0 7 ,8 9 0
4 5 ,2 8 1
D et.Lans’gANo. ad wk Nov
2 2 ,5 0 6
2 1 ,6 4 8 1 ,0 3 1 ,0 7 5 1 ,0 3 4 ,5 7 1
D et.A Mackinac Septemb’r,
1 9 ,5 3 5
3 3 7 ,5 8 2
2 8 5 ,0 7 9
24,511
DuluthS.S.AAtl. 3d wk Nov
2 4 .4 5 8
3 6 ,7 8 2 1 ,7 6 2 ,1 1 4 1 ,6 1 7 ,1 9 3
E lglnJol.A E att. O ctober... 1 3 0 .7 0 0 1 3 2 ,2 1 8 1 ,1 0 0 ,7 7 2
9 3 3 ,3 9 1
E r ie .....................O ctober,.. 3 ,0 9 8 ,2 9 5 3 ,1 6 6 ,4 6 3 2 5 ,6 8 9 ,6 3 1 2 5 ,1 7 6 ,4 1 9
Eureka Springs. August___
5,0 6 2
4 0 ,9 4 5
4 4 ,523
6.120
Evana.Alnd’plis 4th wkNov
6,1 8 4
2 6 3 ,4 0 3
7 ,4 6 9
2 7 5 .3 3 7
Evans. A R ich .. 3d wk Nov
2.8 7 3
1
0 2 ,8 9 2
1
0
7
,6
6
1
2 ,5 1 3
2 4 ,3 1 4
E vansv. A T. H . 4tli wkNov
9 9 3 ,1 1 3
9 6 2 .3 4 3
3 0 ,9 4 0
i t toll bury.......... O ctober..
6 8 8 ,2 7 9 7 5 4 ,7 3 6 6 .1 0 1 .6 3 0 6 ,1 1 0 ,4 2 2
4 7 ,0 6 2
F lint. AP.Marq. 3d wk Nov
4 6 ,5 7 4 2 ,3 0 2 ,9 1 3 2 ,2 3 3 ,8 1 2
Fla.Cent. A Pen. 3d wk Nov
3 9 .7 8 6
3 5 ,3 7 8 1 ,7 8 3 ,6 )9 1 ,7 0 2 ,9 8 0
Ft.W’tkADen.C. 4th wkOct.
2 9 ,9 1 6
7 6 5 ,091
8 6 0 ,1 8 0
3 9 ,8 1 6
Ft. W. A Rio Gr. O ctober...
3 8 .4 6 6
2 6 2 ,3 6 7
3 0 7 ,1 6 9
5 5 ,2 5 7
Gads. A A tt. U . O otober...
850
8,911
940
7,4 4 5
4 0 ,0 5 0
G eorgiaR R ....... 3d w kN ov
3 5 ,8 9 2 1 ,3 6 2 ,6 7 0 1 ,1 4 4 ,6 6 5
Georgia A A la .. 3d wk Nov
2 4 ,2 4 7
7 4 8 ,4 8 0
4 3 5 ,6 3 6
13,065
Ga. CarTa A No. Septemb’r.
9 4 ,6 3 6
6 3 0 ,4 7 7
4 7 9 ,1 8 6
5 7 ,3 1 8
Geo. So, A F la .. O ctober...
8 0 ,5 6 2
7 3 0 ,9 6 6
6 7 5,021
7 9 ,8 6 3
Gr. Rap. A In d .. 3d wk Nov
33,693
4 0 ,5 6 9 1 ,7 2 5 ,5 1 2 1 ,8 5 9 ,7 2 8
Cin.R. A Ft.W. 3d wk Nov
6,9 8 3
3 5 1 ,505
8,9 9 2
4 0 1 ,2 1 0
Traverse City. 3d wk Nov
589
41,5 6 4
739
4 0 ,0 5 6
Mus. G. R. A I. j3d wk Nov
1.8 7 3
1 0 8 ,947
1 0 6 ,1 1 5
1,745
Tot. all linesj3d wk Nov
4 3 ,1 3 8
5 2 ,0 4 5 2 ,2 2 7 ,5 2 9 2 ,4 0 7 ,2 0 7
Grand T runk... 3d wkNov! 3 8 5 ,1 4 1 3 8 1 ,6 4 6 1 6 ,5 4 8 ,4 3 4 1 5 ,9 1 7,302
Ohio. A Gr.Tr. 3d wkNov!
5 8 ,6 3 1
5 6 ,3 0 3 2 ,7 8 8 ,0 0 0 2 ,4 6 2 ,0 4 8
DeLGr.H.AM. 3d wk Nov
1 7 ,9 7 2
8 5 1 ,6 1 1
9 0 1 ,1 6 2
1 8 ,5 3 8
01n.8ag.AMac 3d wk Nov
2 ,7 4 6
2 ,9 3 3
Tol.S, AM usk. 3d wk Nov
1 ,9 6 7
1 ,1 7 6
Great North’li­
st. P. M. A to. O ctober.. 2 ,0 5 9 ,3 4 4 2 ,0 9 5 ,4 7 4 1 2 ,850,004 1 1 ,4 6 1 ,1 3 7
E ast of M inn.. 1O ctober.. . I 2 6 0 ,4 0 0 2 6 6 ,1 7 6 1 ,5 8 2 ,1 6 6 1 ,2 5 8 ,9 6 1
M outanaCent.October. .J 162,474 1 5 7 ,9 5 4 1 ,6 0 6 ,2 3 4 1 ,2 7 7 ,1 8 9
Tot. system .'O ctober... 2 ,4 8 2 .2 1 8 2 ,5 1 9 ,6 0 4 1 6 ,0 3 8 ,4 0 4 1 3 ,9 9 7 ,2 8 7
Gulf A Chicago. jOctober. .
7,4 3 4
3 6 ,2 4 2
6 ,8 2 7
3 6 ,138
G’lf B'mntAK.C. 'November.1 1 0 ,3 4 2
8 7 ,2 8 4
8 ,6 4 9
6 6 ,8 3 6
Hoos.Tun.AW il.|October. ,.|
4 ,6 5 0
3 8 ,3 3 6
6,8 1 9
3 8 ,0 0 3
H o u r . A Ter.Con 'Septemb’r
3 6 7 ,2 4 0 3 3 9 ,0 9 7 2 ,1 3 3 ,2 1 8 2,340,848

Week or Mo

1896.

1895.

J a n . 1 to L atest Date.
1896.

1895.

$
1 7 ,2 0 6 ,3 1 9
395,820,
5 6 1 .6 9 1
3 ,1 0 1 ,2 4 3
2 ,0 2 6 .2 8 9
1 ,5 8 7 ,4 0 .i
3 6 ,5 9 7
2 3 5 ,2 7 4

$

1 6 ,4 9 1 ,2 4 4
2 ,2 4 6 ,7 6 7 2 ,3 8 7 ,4 4 2
Illinois Central. Ootober.
ImLDec.A West, 2d wk Nov
1 0 ,528
S,683|
4 0 4 ,8 1 0
5 6 .744
lud. 111. & Iowa. Septemb’r.
4 9 .9 8 4
6 5 9 ,0 7 9
In.&Gt. North’n 4th wkNov 137,755
9 8 ,670
2 .9 5 3 ,0 4 2
tlnteroc. (Mex.) 2d wli Nov
5 0 ,1 0 0
40. *30
2 ,0 0 7 ,6 3 6
4 6 ,159
Iow a C en tral... 4th wkNov
1 ,5 1 9 ,4 4 2
3 4 ,5 4 8
Iron R ailw ay. . October. ..
3,576
2,843
4 0 ,4 5 5
Jack. T. & K. W. Septemb’r.
2 2 .314
1 9 ,607
3 0 8 ,7 8 3
Jam est’n & L. E . Septemb’r.
3,2 1 1
Kanawlia&Mich 3<1 wk Nov
8.4 3 2
10.669
3 9 5 ,7 3 0
4 0 0 .0 5 3
3 7 .221
K.C.F.Scott&M. 3d wk Nov
7 7 ,3 1 6 3 ,9 4 7 ,9 1 1 4 ,0 0 2 ,8 3 2
3 2 .6 8 4
K.C.Mem & Bir. 3d wk Nov
3 2 ,192 1 ,032, 23
9 4 9 ,1 2 0
Kan. C. N. W .... October.
2 5 ,136
2 2 4 ,8 2 2
28,381
1 9 8 ,1 7 3
431
3,8 0 2
Kan.C.&Beat. October. ..
407
4 ,2 0 0
2 7 ,8 5 6
1 5 ,515
4 8 5 ,2 2 4
7 0 8 ,8 2 5
K.
O. Pitts.
G ..
4th<&
wkNov
3 1 1 . 20
Kan.C. Sub. Belt 4th wkNov
5.9 9 9
5,9 6 9
2 5 6 ,9 4 0
3 3 8 ,1 7 9
6,7 7 9
8,9 1 9
Keokuk & West. 1st wk Nov
3 1 7 ,2 1 7
49,9091
8.019
L. Erie A ll & So. October.
7,5 0 6
6 5 ,5 9 5
7 2 , 187 2 ,9 8 4 ,1 8 0 3 ,1 1 7 ,8 4 7
L. Erie & W est. 3d wk Nov
6 3 ,188
329,763!
Lehigh & H ud.. October. ..
3 4 ,258
3 7 .2 2 7
3 6 1 ,1 7 7
152,333;
Lex’gton& East. Septemb’r.
13.456
18,251
1 5 4 ,3 6 0
Long Island — October. .. 3 2 0 .3 0 6 3 29,364 3 ,412,262; 3 ,5 1 3 ,8 9 9
7 7 ,3 5 3
Los Ang. Terra. October. ..
5,069
7 ,3 3 7
1 2 9 ,1 4 0
3 1 .512
Louis.Ev.&St.L. 4th wkNov
3 9 ,8 5 3 1 ,3 7 5 ,2 6 6 1 ,3 4 6 ,1 8 7
Lo uis v. & N ash v. 3d wk Nov 4 4 6 .1 2 0 4 4 4 ,6 4 0 17,925,558! 1 7 ,4 8 5 ,1 9 8
5 8 ,4 0 4
7 3 ,7 8 5 2 ,209,409! 2 ,2 7 2 ,6 4 2
Louis.N.A.&Cli. 3d w kSept
7,5 2 5
4 0 7 ,8 5 0
Lou.Hen.&St.L. '3d wk Nov
1 1 ,6 3 7
3 9 1 ,50L
4 9 ,9 8 4
7,1 8 4
8,557
5 9 ,2 8 4
Macon & Birra.. October. ..
1 10,1 88
108,224!
5.8 9 0
M an istiau e....... October. ..
3,381
MemDhis&Chas. 3d wk Nov
3 2 ,6 3 7
2 9 .7 5 6 1 ,1 3 5 ,1 7 3 l / ' 6 2 , 861
tMexican Cent.. 4th wkNov 2 6 1 ,3 2 0 2 3 1 ,8 0 3 9 ,172,372; 8 ,5 9 3 ,3 4 3
M exican Inter’l. .October. .. 2 2 8 .1 9 5 2 5 3 ,1 6 8 2 ,4 1 1 ,7 6 3 2 ,1 4 7 ,0 8 9
JMex. Natioual 3d wk Nov 1 0 8 ,3 6 7
78,997 4 ,5 5 3 ,1 3 4 3 ,9 0 1 ,9 6 7
583,1441
5 5 ,7 3 3
Mex. Northern. Septemb’r.
5 1 ,3 0 6
5 1 8 ,6 5 3
tM exican R’way 2d wk Nov
6 8 ,4 8 0
5 3 ,4 6 7 2,862 ,2 6 0 ' 2 ,8 3 1 ,0 7 5
9,9 1 0
4 2 0 ,6 8 6
4 7 4 ,2 6 1
M exican So....... 2d wk Nov
8,776
5.2 -<8
1 0 ,355
Middle Ga.& Atl. Septemb’r
Minneap.&St.L. 4th wkNov
3 7 ,8 4 8
5 0 ,5 8 4 1 .8 1 6 ,1 1 0 1,815,123
8 0 ,567
9 9 ,3 1 4 3 .3 1 0 ,6 6 7 2,751,476
M.
St.P.&S.St.M.
34 wk Nov
Mo. Kan. & Tex. 3d wk Nov 2 9 1 ,2 9 7 2 2 9 ,3 1 6 10 ,3 1 2 ,4 6 1 9 ,8 0 8 ,9 9 3
Mo.Pac.&IronM 3d wk Nov 4 7 7 .0 0 0 506.001 1 9 .2 7 6 .0 0 0 1 9 ,9 2 3 ,9 4 9
6 7 5 .0 0 0
15,000
517,476
Central Br’ch. 3d wk Nov
19,00"
T otal........... 3d wk Nov 4 9 6 .0 0 0 521.001 1 9 .9 5 1 .0 0 0 2 0 ,4 4 1 ,4 2 5
2 8 9 ,2 7 3
2 5 1 ,8 5 5
Mobile & Birm. 3d wk Nov
>•,336
8,4 7 5
Mobile & Ohio.. November 3 5 3 ,6 8 4 3 7 2 ,9 6 9 3 ,3 3 5 ,5 0 5 3 ,1 2 0 ,4 6 7
8 3 3 ,1 8 i
Mont.&Mex.Glf Septemb’r.
7 5 ,2 7 3
108,777
9 2 3 ,0 2 7
Nash.Ch.&St. L. October. .. 4 73,641 4 7 0 .8 1 1 ,4 ,1 6 7 ,2 4 6 3 ,9 2 1 ,8 7 1
3,8 5 4
Nel. & Ft. Sh’p’d October.
7,7 1 8
2 6 ,2 3 8
2 0 ,9 8 0
Nevada Central. Septemb’r.
5,1 8 2
3,2 9 8
S .Y . C .& H . R .. October.
4 ,1 4 8 ,0 7 8 4 ,1 8 5 .3 0 3 3 6 ,5 5 4 ,5 4 2 3 6 ,1 1 6 ,2 9 4
3
,4
5
3
,9
9
5
3
,3
0 7 ,8 1 0
N. Y. Ont. & W .. 3d wk Nov
8 1 ,333
7 5 ,2 1 8
N.Y.Susq. & W .. October. .. 2 3 2 ,0 7 5 220,771 1 ,8 5 7 ,0 9 9 1,862,311
9
,7
8
9
,6
9
2
8 ,3 9 0 ,0 5 1
Norfolk & West. 3d wk Nov 2 1 2 ,5 3 0 19 8 ,9 J5
4 3 ,7 3 7
3 6 ,0 7 3
Northes’n (Ga.). Septemb’r.
4.0 0 2
6,3 4 6
North’n Central October.
6 5 5 .2 5 0 6 5 5 .3 5 9 5 ,2 1 4 .5 8 5 5 ,3 6 2 ,0 0 5
North’n Pacific. 3d wk Nov 4 0 8 ,3 9 5 5 0 6 ,3 3 7 1 6 ,9 5 4 ,6 8 9 1 7 ,0 3 8 .7 0 7
2 9 .5 3 9
3.924
23,686Oconee & West October.
3.7 4 5
8 6 9 ,9 7 1
7 8 5 ,2 4 1
Ohio R iver....... 3d wk Nov
2 4 ,3 7 3
2 0 .3 7 6
1 52,149
15 0 ,0 0 9
OhioRiv.&Chas October. ..
2 0 .2 1 4
18,981
6 4 5 .5 5 6
Ohio S ou th ern .. November
7 8 ,2 6 5
6 9 6 .1 0 8
3 3 ,8 0 0
Oregon Imp. Co. Septemb’r. 2 6 0 .8 6 0 2 7 0 ,5 1 7 2 ,4 4 3 ,1 8 0 2,409,946
Oreg. KR.&Nav. O ctob er... 6 6 5 ,9 4 9 5 2 4 ,1 19
Pacific Mail....... October.
3 3 7 ,1 0 8
3 6 9 ,0 6 6 3 ,2 5 5 ,5 7 3 3, 6 4 7 .6 5 0
Pennsylvania. $. October.
5 ,5 9 6 ,8 7 8 6 .2 6 3 ,2 7 8 5 1 ,6 5 7 ,9 4 8 53 ,1 0 9 ,9 4 8
8 3 3 ,5 0 5
780.4611
PeoriaDec.&Ev. 4th wkNov
19,102'
2 2 ,7 3 2
4 6 ,5 9 1 1 4 5 2 ,9 1 8
Petersburg....... October. ..
45,972[
4 6 ,5 2 6
Phila. & E rie... Septemb’r. 4 4 7 ,9 5 2 41 7 ,6 0 7 3 ,1 5 7 ,0 2 0 3,,103,3 22
Phila. & R ead.. October. .. 2 ,0 6 0 ,1 0 6 .2 .2 7 4 261 1 6 .8 8 5 ,701]17. 7 3 0 ,9 6 1
Coal & Ir.C o.. October
2 , 7 .7 85 2 3 .3 5 0 .6 8 6 1 8 ,9 3 6 ,6 8 4 19 9 9 8 ,3 1 9
Tot. both Co’s. O ctober... 4 ,8 2 7 .9 5 8 5,62 4 .9 4 7 3 5 8 22 3 85 37,,7 2 9 ,2 8 0
6 3 6 ,4 6 9
578,030!
Ph. Read. &N.E. Ootober. ..
7 3 ,168
6 4 5 66
Pitts. C.C.&St.L. October. . 1 ,2 1 1 ,3 5 2 1 ,5 5 0 ,9 3 7 12,0G 4,684!12, ,678,167
3 6 ,2 7 6
3 6 293]
Pitts.Lisb.&W’n October. .
4.5 6 3
4 .2 3 6
5 5 1 ,6 6 5
568,844!
11,482
Pitts. S1l & L.E . 3d wk Nov
1 4 ,5 1 4
Pittsb. & Wes’n. 3d wk Nov
3 7 ,4 9 2
3 3 ,433 1 ,4 9 1 ,2 2 9 1, 5 3 7 ,8 6 0
8 01 9 5 0
666,512]
1 6 .493
P itts. Cl. &Tol. 3d wk Nov
14,733
353 .9 5 2 ,
3 1 7 ,4 1 4
7,015
P itts. Pa. & F 3d wk Nov
8,8 74j
Total system . 4th wkNov
6 6 .429 2 ,0 1 7 .0 6 4 2, 7 9 1 .9 9 0
6 3 ,6 3 0
P itt Y oung.& A. October. .. 1 1 3 ,3 2 5 1 9 0 .5 3 9 1 ,2 1 5 ,2 4 6 1,,478,2 46
248,922]
2 1 5 ,6 3 7
2 5 .7 8 2
2 7 ,0 3 4
Quincy O.&K.C. O ctober...
5 5 1 ,5 9 9
5 3 9 ,0 2 6
Ricli.Pr’ksb &P. Septemb’r.
5 0 ,4 5 4
5 5 ,0 5 9
2 8 4 .2 0 4
2 8 8 .0 5 7
2 9 .285
Rich. & Petersb. O ctober..
2 7 .7 5 2
4 0 2 ,3 5 6
4 1 4 .9 9 9
Rio Gr.'South’n. 4th wkNov
1 6 ,846
1 0 ,0 1 7
5 5 ,7 0 0 2 ,1 2 5 ,4 3 1 2, 1 2 4 ,0 9 9
Rio Gr’deW est. 3d w k Nov
5 3 ,2 6 0
8 5 ,3 4 1
8 2 ,1 4 9
1 1 ,353
8ag.Tuscola&H. Septemb’r.
1 1 ,187
St.L.Ken’et&So. October. ..
3,5 4 6
8 .1 3 6
St.L.&San Fran. Ooiober. .. 5 7 4 ,0 4 3 6 3 3 ,5 5 7 5 ,0 7 6 ,0 0 9 4 ,9 4 6 ,6 3 3
St.L. Southwest 4th wkNov 1 4 1 ,6 0 0 1 4 5 ,7 0 0 4 ,3 3 9 ,5 1 8 4,546,458
S t P aul <fe D u l.. O ctober... 2 0 8 .0 9 5 2 1 2 .3 8 7 1 ,2 7 4 .0 1 8 1,284.698
San A n t & A .P . O ctob er... 2 5 5 ,5 3 5 2 2 9 ,8 9 6 1 ,6 6 6 ,0 1 3 1 ,6 2 6 ,0 7 4
6 9 5 ,8 2 4
6 3 4 ,9 8 6
San Fran. & N.P. October. ..
7 3 ,1 8 4
8 2 ,6 8 3
Sav. F la.&West. Septemb’r. 2 7 4 ,3 1 1 2 6 0 ,1 2 4 2 ,5 0 2 ,1 2 7 2,483,489
2 7 1 ,3 5 5
2
3
3
,4
1
7
Slier. Skrev.&So. 4th wkOct.
1
5
,0
2
9
1 6 ,851
Seab’rdA ir Line Septemb’r. 3 3 4 ,8 7 6 2 5 6 ,7 3 6
139,534
;
1
4
4
,6
4
7
1 5 ,7 7 7
Sil.Sprs.O . &G. Septemb’r.
1 0 ,5 2 2
1 0 .493
Silverton .
5,6 0 6
October. ..
17,102
2 3 ,2 6 5
1 ,9 0 4 ;
So.H aven& East O ctober...
2 ,6 9 5
So. Pacific Co.—
I
3,343.607
Gal.Har.A S.A Septemb’r. 4 3 3 .7 7 6 4 2 3 ,4 9 0 1 3 ,6 0 2 ,9 5 1
762,389
6 3 7 ,7 8 4
Louis’a. West. Septemb’r.
7 0 ,2 5 2
8 2 ,1 7 3
Morgan’sL&T. Septemb’r. 4 6 8 ,0 2 0 4 1 6 ,7 8 1 3 ,4 5 2 ,1 6 9 3,986.178
170,786
1 8 2 ,4 7 7
2 2 ,9 5 0
N.Y.T. & Mex. Septemb’r.
3 8 ,4 2 3
9 6 9 .8 0 2 1,190,579
Tex. & N. Orl.. Septemb’r. 1 1 1 ,7 9 4 1 3 7 .2 4 2
AtLProp’tes.6 Septemb’r. /1 5 8 2 8 0 7 f 1 5 0 4 3 4 2 71 1 4 5 1 2 9 0 C12294703
Pacific system Septemb’r. 2 ,8 8 8 ,4 3 7 2 ,9 7 7 ,3 9 1 2 3 ,2 0 7 ,1 5 4 23,691 042
Total of ail.e Septemb’r. 4 ,4 7 1 ,2 4 4 4 ,4 8 1 .7 3 4 3 4 .6 5 8 ,4 4 4 35,985.746
So. Pac. of Cal. Septemb’r. 8 4 1 ,0 2 9 931 .2 7 7 , 7 ,3 1 0 ,6 3 3 7,649,873
So.Pac.ofAriz. Septemb’r. 1 5 5 ,1 1 8 168,612; 1 ,6 2 1 ,2 7 2 1,606.528
773.980
8 2 8 ,8 9 5
80,073.
So.Pac.ofN.M. Septemb’r.
8 4 ,9 8 0
Northern R y.. 8eptem b’r. 2 2 1 ,2 6 7 1 9 8 ,8 3 1 1 ,6 0 4 ,1 6 4 1,443.442
Southern R y __ 3d wk Nov 4 3 5 ,8 0 1 4 4 0 ,1 9 4 1 6 ,4 0 8 ,2 8 9 16,403,774
225,125
3 5 6 ,9 9 5
2 9 ,1 5 9
Spok.FTs A Nor. October. ..
4 4 ,0 3 9
810,513
8 1 0 .4 7 9
Staten I.Rap.Tr. A ugust---- 1 4 7 ,4 3 7 153 ,0 2 0 .
36,701
3 5 ,2 2 4
4 ,3 5 2
4,457]
StonyCl. & C.M t 8eptem b’r.
968,665
7 8 8 ,8 3 6
9 4 ,0 8 9 111.150!
Summit Branch. October. ..
605,282
7 2 4 563
9 1 .2 4 6
Lyk. Val. coal. October. ..
8 8 ,4 7 6
Tot’l both Co’s O ctober... 1 8 2 .5 6 5 2 0 2 ,3 9 6 1 ,5 1 3 ,3 9 9 1,573,847
220,457
2 1 1 ,8 6 4
1 1 ,292
1 3 ,2 8 0
Texas Central.. 3d wk Oot.
T e x a s & Paciflo. 3d wk Nov
1 7 8 ,0 7 0 18 4 2 19 5 ,6 6 2 ,8 2 3 5,869,809
3
,4
5
0
Tex. S. V.&N.W. O ctober...
3 ,9 5 4
5 3 ,8 4 8 1 ,6 1 2 ,5 4 5 1,678,104
ToL&OhioCent. 4th wkNov
4 1 ,1 8 6
882,637
8 5 1 ,0 6 2
2 1 .3 8 3
ToL P. & W est.. 3d wk Nov
1 9 ,191
4 0 .3 3 8 1,866,866 1,619,868
T oL S t L.&K.C. 2d wk Nov
4 8 ,7 1 7
Union Paciflo Un. Pao. R R .. Septemb’r. 1,423,232 1,368,533 10,149.273 10,184,640
483,178 527,607 4,008,795 3,809,571
Or. S.L.&U. N. Septemb’r

THE CHRONICLE.

D ecembek 5, 1896.]
Latest dross Warnings
Boads.

Week or X<

1896.

1895.

Ja n . 1 to Latest Date.

1896.

1895.

«
?
*
<
Septem b'r
69,445
60,029
489,303
436.395
75.638
6.829
12,594
September.
49,651
612 363
23.989
559,953
4th wkOct.
17,153
15,000
19,000
675,863
34 wk Nov
516,948
Aoh.Ool.Jt P. > Septemb'r.
25.029
234,116
31.708
195,423
Aoh.J.C.AW(
68,519
53.904
541,383
410,850
Septemb'r.
'Septemb’r. 2,186,046 2,137.625 16.261.608 15.769.321
313 002
319 153
Ulster A Delaw Septemb’r
U. P»c. D. A G . Septemb’r. 257,941 2*4.823 2.170.809 2,178,965
ttbw kN ov 218,224 307.398 10,999,^2* 11,580,715
W» j*.'.
..
38.24)
174,209
170,424
37,161
Waeo A N o rth ' Septemb’r.
.... .
W. Jersey A3ea' O ctober... 159.990 184.291
101,2 *4 107.3)9
W.V.Cea.A Put October. .
22^,208
35.3 '6
207,681
31,371
Wevt Va-A Pitt* Ju ly ..........
401,96 a 305,577
60.050
52.550
Wintern of Ala Septemb’r.
7 9,000 2,739.59 2,969.499
63.00C
A Pa 3.1 wlr Nov
34.550 1.202.364 | 1.2*9,681
26,*57
Wieel. A L. Erl. 4th wkNov
81,834 3,868,6 i4 3,972,535
88,171
Wleoonam Cent 3d w* Nov
9.724
76,432
10,39)
69,803
October. ..
5.991
..........
6.721 '
Septem b’r.
• rtguree given do not Inolade Oregon By. A Sav., On. Pao. DenverA
Ball, Denver Leadvtlle A Gunnison. Montuua Onion and Leavenworth
Topeka A Booth vealera a Theeettguree lnolude results on eased lines
» tnolndes earnings from ferries, eto., not given separately. 1 Mexlean enrrenav. r tnolndes only half of lines In whloh Union P a d do has
a half Interest.
d [nola les operations of the Ohio. Burlington A Northern In b o th
years.
J Oovers results for lines directly operated east of Pittsburg,
s la n t odes results on adulated lines.
/C av e rs besides the AtUatlo System the Houston A T ex ts Central,
Austin A Northwestern, Central Texas A Northwestern and Pt. Worth
A New Orleans.

Un.Pac —(Oon.)

ilC05
---- Gross W arnings.-----,

1896.

i895.

~Net W arnings.---1896.

1895.

Roads
$
$
8
$
li. Top A 3 F e.b ..O o t. 3,053,052 3,036,182 1,036,342
931,919
^ Jan. 1 to Oot. 31.......23,993,437 23,291,167 6,603,912 4,216,517
July 1 to Oct. 31. ...10,403,253 9,833,691 3,170,065 1,9 L7,377
„
237,637
118,915
39,945
B iff. Rooh.A Pitta.b..Oct. 313,346
Jan 1 to Oot. 31 . . . 2,78 >,503 2,438,023
900,93 3
646.208
Ju ly 1 to Oot. 31....... 1,237,752 1,07 L,906
420,857
314,505
B falo <fe Susqueh’a. Oct.
34,301
46,532
60,420
25 881
351,104
Jan. 1 t o O cg. 3 1 .........
211,115
4 4 4 ,0 5 5
153,728
213,549
177,128
July 1 to Oot. 31. . . .
120,153
88,562

p

2,121,650 2.291,857
9 39,611 1,109,647
Jan. 1 to Oct. 31.......16,791,042 14,837,395 6,321,001 5,593,420
„ as. A O hio.a ........Oct. 892,510
314,100
903,915
309,629
U
Jan. 1 to Oct. 31....... 8,431.339 7,979.06) 2,740,127 2,555,427
Ju ly 1 to Oct 31....... 3,464,676 3,383,213 1,293,16 3 1,124,896
C lo. Burl.AQulu.bt.Oct 3,773,819 3,669,158 1,833 4 32 1,673,712
Jan. 1 to Oot. 31. ...23,398,094 27,531,483 10,549,210 10,053,384
n
3,480,111 .3.851,862 1,610,498 1,907,911
Jan. I to Oot 31___ 26,042,936 24,426.657 9,391,6^2 9.969,458
July 1 to Oot. 31___ 11,423,884 11,386,381 4,288,240 5,011,907
_
63,765
60,092
11.390
5,258
539.027
Jan. 1 to Cot. 31----513,458
85,415
69,003
779.060
Dan. A R Grande.b..Oot. 722,225
318,165
363,310
Jan. I to Oot. 31....... 6,061,064 5,96 3,214 2,437,670 2,554,273
July 1 to Oct. 31....... 2,592,144 2,752.912 1,072,188 1.231,792
Erie ...................... ..Oot. 3,098,295 3,166,463 1,005,569 1,018,010
Jan. I to Oot. 31. ...25,639,631 25,176,419 7,016,479 6,323,085
Deo. I to Occ. 31. ...23,208,358 27,409,779 7,622,721 6,824,937
Georgia.a .„............... Oct.
178,959 174,453
*63,675
*80,186
Jan. I to Oct. 31....... 1,247,6)4 1,039,677 *346.206 *203,234
July 1 to Oot. 31.......
552,405
466,423 *lo8,617 *141,565
198.916
59,012
Iowa Central.b .......O ct
163,9 31
85,024
496,851
Jan. 1 to O ot 31....... 1,461,537 1,356,027
48 3,212
623,527
177,505
July 1 to O ot 31. . ..
558,104
249,062
453,449
Kan. C. F t 8. A M.a..Oot.
114,065
154,803
154,388
Jan. I to Oct .3 1 ....... 3,710,403 3,751 953 1,1*1,191 1,165,157
L a te n t H roaa E a r n i n g s by W e e k s.—T h e la te s t w e e k ly e a r n ­
July 1 to Oou 31. . .. 1,573,826 1,623,313
526,399
519,750
ing* in th e fo re g o in g a re s e p a ra te ly su m m e d u p a s fol Lake Shore A#Mich. 8o.5.5C2.470 1.902,741 1,926,571
July 1 to -<epi. 3 0 — 5,025,536
......
le w s :
Jan. I to S ept 30....15,151,425 15,166,463 5.429,392 5,503,286
F o r the fo u rth w eek o f N o v e m b er o u r p re lim in a ry s ta te m e n t Lehigh A Hudson.—
95,265
87.815
39,325
July 1 to Sept. 30 —
37,848
oovers 23 ro a d s, a n d sh o w s 7-40 p e r c e n t loss in th e a g g re g a te
293,901
264,431
115,340
Jan. I to Sept. 3 0 ....
122,108
o v e r th e s a m e w eek la s t y e a r.
Long Island, b —
640,041
668.509
July 1 to Sept 30__ 1,405,647 1,438,494
3.070,893 3,184,525 1,173,715 1,217,220
Jan. I to S e p t 30.
Increase . DtertaM.
4(A im ek o f XoKm ber.
1896.
1895.
1,962,049 1,979,600
746.092
775,469
i
*
Jan. 1 to Oot 31. ...16,666,763 13,172,753 5,249,272 5,391,449
•
*
2,851
12,702
July 1 to O c t 31___ 6,996,13 4 7,033,636 2 ,2 1 8 ,2 0 ) 2,499,866
10,111
Atlantic A D anville.......
28,599
158,991
130,391
Balt. A Ohio Houthwest..
930,100
279.713
xJoan
C e n tra l...... O ot 908,326
421.510
49,000
59 g.OOP
........
533.00*
t afUfrOieta Pacific . . . . . .
Jan. 1 to O ot 31....... 8,304.472 7,787,631 2,910,651 3,191,436
57,591
281.879
5 27.285
Oheeapeate A Ohio-----253,163
81,143
r. fntftrnsUional. .Oot. 223,195
108,366
1.900
79,500
77.004
Ohleago A Earn. Illlnote
883,322
838,884
Jan. 1 to O ot 31....... 2,411,763 2,147,039
151,594
900,904
. . . . ...
755.210
Chicago Mllw. A at Paul
19.930
424,338 C237.891 c211,456
490. 2 26
199.0OU
. . . . ...
176,700
.loan National ...O ot
Denver A Rlo Grande.
1,28%
. . . . ...
7.48.'
6.184
Evanav. A Indianapolis
Jan. I to O ct 31---- 4,2 >1,242 3,675,341 c l , 963,499 c l , 673,773
6,626 Minn. A S t Louis__ O ot
30,940
. . . . ...
21.314
Bvanftv. A Terre Haute
113,813
215,797
227,193
123,339
39,035
98.670
137.755
tn te rn ’l A Ot. Xorth’n .
659,856 680,227
Jau. 1 to O ot 31. . . . 1 ,659,803 1,619,927
lT.611
46.159
. . . . ...
34.54-)
Iowa central . . . . . ..
762,534
786,377
345,509
354,604
July
l
to
Oot.
3
i
.......
12,341
15,515
27.956
Kan. OUy PUUb. A Oa f
30 Monterey A Mex. Gulf—
ft,9 9 '
5.969
Kan. CUT Suburb. B e lt..
291,817
258,759
70,797
91,160
July 1 to Sept. 30 ...
8,341
3).853
31.512
Lnalav. Evaoftv. A »t. L
234,894
923,027
831,138
299,103
jran. 1 to Sept. 3 0 ...
29,517
261,320
231.803
Vf* xlcttn Ce n tra l. ...
50.584
12.738 New London Northern—
........
37,84 m
Minneapolis A St. Louis
3,630
184,179
22.732
189,413
62,52 L
88,477
........
19,102
July t to Sept 30 ...
Peoria Dec. A R rsn sv ..
*2,79 »
503,036
485,308
157,8 46
131,341
66.4 21.... ...
63,030
Jau. 1 to Sept. 30 ...
P ltuburg A Waatern----4,100 N. Y. A Rook. Beach —
115.700
1 41.600
84 Louis 8oiitbw»wp*m.
12,682
........
53,818
41,186
Toledo A Ohio Central..
115,211
145,216
176,284
80.363
July L to Sept. 30 ...
59,164
307,389
2 48 2.'4
Waeasn ............... . . ...
55,151
212.913
68,079
20 1,923
Jau. 1 to Sopt 30 . ..
7,693
34.550
26.857
............
Wheeling A Lake E rie..
524,119 1402,459 1119,705
665,949
Oregon RR. A Nay..O ct.
334,321 Pacific Mail ............. O ct
369,068
61.728
91,079
138,537
337,108
Total 22 roads)....... — 3,075.796 3,321,880
448,872
060,303
Jan . l to O ot 31....... : 1,255.573 3.647,650
245,781
--------Net decrease «7*A0 p. 4 ).
............
293,410
423,917
May l to Oot 31___ ,918.687 2,177,540
F o r th e th ir d w eek of N o v e m b er o u r final s ta te m e n t covers Pennsylvania—
Lines directly operated—
73 ro a d s, a n d sh o w s f 8 0 p e r r e n t loss in th e a g g re g a te .
i,596.878 6,213,278 2,057,600 2,261,000
East of Pitta.A E..O ot 5,596,878
Jan 1 to Oot 31...51,637,943 53,109,948 14,769,213 15.974,113
Decrease.
In
e
m
u
t.
Deo. 535,500
West
of
P
itta
AE..Oot.
Deo. 866,800
1895.
1896.
I d meek o f Hosember.
Dec. 1,345,400
Jan. L to O ot 3 1 ...
Deo. 1,808,100
f
*
f
#
All lines operated—
375,572
193.919
fr e v ’lr reported <49 r*da 5,014.370 5,791,029
East of Pitta A E.. Oct.
Deo. 877,300
Dec. 347,300
2,93
11,^44
14.182
Atlantic A Danville........
Dec. 1,92 7,500
.Ian. I to Oot. 3 1 ...
Deo. 1,959,400
19,926
109.518
99,022
Bari. Cod. Hap. A North.
Deo. 582,000
West of Pitta. A E.. O ot
Deo. 972.500
94,21/
83.538!
Ohleago G reat Western.
Deo. 1.445,100
Jan. I to O ct 3 1 ...
Dec.2,122,800
28.797
........
23,334
Chic. A West Michigan .."
2,511
1,122,707
1,213,484
15.826
Phila.
A
Reading...
.Oot
2,060,106
2,274,201
13,315
Ctc v*. Canton A Boutn’n
34.*30
7,450,638 8.001,112
Jan. 1 to O ot 31.......................... 16,885,70117,730,961
238.63/
251,102
Olev. Cln. Ctllo. A Mt- L..
15,415
.
.
.
.
.
.
.
.
8,272,376
8,605,973
37.99-.
Dee
1
to
O
ot
31..........................
18,718,956
19,282,888
22,58)
Olav. Lorain A Wheeling
........
858
21.648
22.50-i
Detroit faanVg A North'n
40,521
261,817
Goal A Irou Co.......O ot 2,767,852 3,330,686
12,324
.... .
24,4538,7 8i
Duluth Ho. chore A Atl.
75,526 df.466,515
Jan. 1 to Oot. 31_____________18,930,63419,993.319
........
360
2,513
2.974
Kransv. A Richmond —
def.6,891 df.653,942
Deo.
1
to
Oot.
31..........................21,153,013
21,586,576
44a. . . ■•••
48,574
47,06Font A Pere Mar-jueU i
Total both Cos........ O ot 4,827,938 5,624,947 1,384,524 1,254,005
4.40?
35,378
39.78c
............
r i a Cent. A Peninsular
7,532,164 7,534,597
Jan. 1 to O ot 31..........................35,822,335 37,729,280
Brand T rane of Canada
8,265,43 2 7,952,031
Dec. 1 to O c t 31_____________39,871,99940,869,404
. . . . . ..
2,326
56.303
58.6=1
Chie. A Or. Trunk— .
611
12,063
20,829
64,566
73,168
17.927
le.538
Phil. Bead. A.N.Eng .O ot
Det. Gr. Haven A Mil.
187
166,131
171,714
2,933
2.746
573,030
636,469
Jan. 1 to O ot 31. ...
On. Hag A vtftokmac.
79
1.967
1.176
Tol. Hag. A M.ivnegon.
28,860
8 ou tb ..b ..O ct
39,141
49,535
20,107
. . . . . . . . Rio Gr’nde
9,905
77,316
87,221
C a n .’l l ) U S ft Mem.
178,537
378.103
352,297 152.7-'0
Jan. 1 to
>ot 31......
...a ••••
32.6*4
32.19/
49 w
fCaa. C. Mem A R lriu...
95,917
Ju
ly
1
to
O
ot
31
......
158,619
108,3
24
70,899
32.037
2,881
2^,756
120,767
Rio Grande W est.b .O ot
239,647
255,511
91,150
13,585
194.9 45
212,530
Norfolk A W-fttern------740,104
Jan.
I
to
Oct.
3
1
......
1,983,151
1,975,999
680,899
97,942
........
506, 3 J7
408.395
392,088
July 1 to O ct 3 1 ......
874,817
931.601
297.547
3,997
...a ---20.376
24.379
Ohio River ..................
290,136
2,467
•■••
43,058
Bt. Louis A «an Fr ...O o t
574.043 633,557 265,658
45,5.5
Toledo A Ohio C entral..
2,189
1,93
7,923
.
.
.
.
....
Jan.
1
to
Oot.
3
1
......
5,076,009
4,946,013
2,0*9,430
19.191
21.38u
Toledo Poona A Wost’n..
15,000
915,987
78,00
. . . . «...
July 1 to O ot 31...... 2,157,356 2,184,090 970,545
03.030
W rit N. y. A Pennaylv
106,773
A n t A Aran. P ..O o t
255.535 229,896 110,404
590^391 Ban Jan.
240,421
444,514
Total 73 roa-la
... 7,260,209 7.610,239
1 to Oct. 3 1 . . . .
1,666,013 1,626,074 520,102
349.971 Vabash, b ................... G ot 1,094,109 1,315,733
....
Set dairaaee 4 «0 p. ec.
443,655
375,533
Jan. 1 to Oct. 31___ 10,092,088 10,512,194 2,817,975 2,930,657
1,509,304
July
1
to
O
ot
3
1
......
4,202,842
4,319,183
1,380,408
N e t t u r n i n g s t e n t h l y t e L a te s t D a t e s . — The table follow
28,727
W. Jersey A Seash'e .O ot
159,990 184,2)3
12,856
560,749
m g sh o w s th e a e t earnings of S team railroads reported th is
M a y 1 to -J o t 3 1 ....... 1,037,541
1,630,453
519,296
82.406
313,453 323,351
129,823
w e ek . A full detailed statement, including all roads from West.N. Y.A Penn. b. .O ot
718,521
Jan. 1 to Oct. 3 1 ___ 2 ,5 59,0)0 2,747,389 910,394
361,863
w h ic h m o n th ly returns can be obtained is given once a month
Inly 1 to O ot 31 ...... 1,193,575 1,254,920 481,110
a N e t e a r n in g s h ere g iv e n a r e a f t e r d e d u c t in g t a x e s ,
in th e se c o lu m n s, a n d the latest statement of thi3 kind will
b N e t e-ir u iu g s h e r e g iv e n a r e b e fo r e d e d u c t in g ta x e s .
be fo u n d in th e C h r o n ic l e of November 21, 1396. T h e next
c Deducting other expenditures for repairs, replacements and general
expenses,
net Income applicable to interest on bonds In cotober was
w ill a p p e a r in th e issu e of December 19,1896.

1006

THE CHRONICLE,

K

oli

l z i u

.

Latest Gross E a rn in g s. J a n . 1 to Latest Date _
$124,996. against $120,105 last year, and from January 1 to October
G ross
31 $1,097,997, against $873,698. This is the resu lt in Mexican dollars
Earnings .
Week or Ho 1896.
1895.
1895.
1896.
treated (according to the com pany’s method of keepiug i t 9 aooounts)
as equivalent to 80 cents in United States mouey—that is, all d ep reci­
$
ation bevond 20 per cent has already been allowed for.
6,920
7,708
5 8 ,2 3 0
59.379
* After adding other inootne net in October, 1896, w as $64,6 21, Sioux City Traction 8eptem b’r.
2.901
3,044
31,878
against $31,182, and from January 1 to October 31 $438,958, against Syracuse E’st-SideRy October. ..
$299,986. and from July l to October 31 $219,993, again st $172,941. Syracuse Rap. Tr. Ry. October. .. 32,303 35,024
Terre Haute EL’c. Ry October. .. 12,450 11,997 137,764 120,771
t Includes 'Chicago Burlington v Norrhe-n for both years
2,000,858 1,998,723
{ Under the receivership all expenditures in 1895, including those Third Ave. (N. V.) .. Septomb’r.
for betterm ents and im provem ents, were put under operating e x ­ Toronto Ry................. October. .. 78.194 78,963 828,797 824,051
Twin City Rap. Tran. October. .. 159,340 167.402 1,707,075 1,632,686
penses.
Union (N. Bedford)... October. .. 17,019 15,507
176,759 154,845*
United Tract. (Prov.) Ootober. .. 136,933 136,728 1,449,280 1,361,403
Interest Charges and Surplus.—The following roads, it Unit.
Trao. (Reading) October. .. 13,472 16,317 164,244 153,856addition to their gross and net earnings given in the foregoing, Waketield & sto n e __ Ootober. .. 3.776 4,109
47,923
49,583
Traction.. Ootober. .. 20,348 21,58 7 201,380 200,622
also report charges for interest, &c., with the surplus or deficit Waterbury
Wheeling R ailw ay... October. .. 13,778 12.993 140,233 124,449
Wilkesb. A Wy. Valley O otober... 4 4,081 40.463 420,603 367,704
above or below those charges.
Wilmington St. R y... Soptemb’r.
3,458
3.092
—Inter't, rentals. dke —Hot o f Net Ea*"\' Woroester Consol___ J u ly ........... 48,598 42.573 234,053 2 3 9 ,2 1 4
1896.
1895.
1896.
1895.
Worcester Sub.St. Ry. Septemb'r. 14,291
Roads.
$
$
$
$
12,663
11,017
22,133
14.861
Buflalo & Susqueh’a. .Oct.
S t r e e t Railway Net E a r n i n g s . —The following table gives45,022
Ju ly 1 to Oot. 31. . . .
69,342
43,540
50,8 LI
880,000
872,955 1,008,492
800,757 che returns of S t r e e t railway gross and net earnings received
Ohio. B url.* Quincy..Oot.
Jau. 1 to Oct. 3 1 . . . . 8,800.000 8,729,545 1,749,210 1,323,839 this week. In reporting these net earnings for the street rail­
199,927
163,383 ways, we adopt the same plan as that for the steam roads—
Denver A Rio Gr’de..O ct.
200,037
118,128
781,986
290,202
446,424 that is, we print each week all the returns received that
Ju ly X to Oot. 3 1 . . . . .
785,369
113,897
113,094
40,911
41,294 week, but once a month (on the third or the fourth Satur­
Kan. C. Ft. S. A M... .Oot.
455,282
63,141
463,258
Ju ly 1 to Oot. 3 1 ____
64.463 day) we bring together all the roads furnishing returns, and
14,107
14,343
6,000
14,512 the latest statement of this kind will be found in the
Rio Grande South__ Out.
July 1 to Oct. 3 1 .......
57.485
14.472
38,432 C h r o n ic l e of November 21, 1896. The next will appear in
56.427

the issue of December 19, 1896.
STREET RAILWAYS A SO TRACTION COHPANlfiS
-Gross E a rn in g s.—
The following table shows the gross earnings for the latest
1896.
1895.
Roads.
$
period of all s t r e e t railways from which we are able to obtain
$
111,826
Lyun A B o s to n .........Oct.
106,831
weekly or monthly returns. The arrangement of the table is
Jan. 1 to Oct. 3 1 ....... 1,233,383 1,201,396
the same as that for the steam roads—that is, the first two Nassau Electric (B’klyn).
551,170
July L to Sept. 3 0 ....
*91,617
columns of figures give the gross earnings for the latest
Jan. 1 to Sept. 3 9 .... 1.0J3.354
week or month, and the last two columns the earnings for Waterbury C,ract’n...Oet.
20,348
21,587
the caleadar vear from Januarv 1 to and including such latest
Jan. 1 to Oct. 3 1 .......
201,380
200,622
week or month.
r From Ju ly 28.
STREET

It

G ross
e a r n in g s .

AIL WAYS

A N l)

TRACTION COMPANIES.

L atest Gross E a rn in g s.
Week or Mo

1896.-

1895.

Ja n . 1 to L atest Date
1896.

1895.

242,039
450,497
9,486
92,415

'4 5 ,3 9 4
8,462
..

....

I n t e r e s t C h a rg e s a n d S a r p l a s . — T he fo llo w in g S t r e e t
ra ilw a y s, in a d d itio n to th e ir gross a n d n e t e a r n i a g i g iv e n in
th e fo reg o in g , also re p o rt c h a rg e s fo r in te re s t, & c., w ith th e
su rp lu s o r d e fic it a b o v e o r b elow th o se c h a rg e s .

$

83,977
1,884
Akron BedTdA Clev. October. .. 10,590
Akron St.Ry.& 111. Co Septemb’r. 17,446 16,265 157,549 136,921
80,744
A llent’n & Leh. Tr't’n May........... 21,284 19,119
72,2 Id
37,450
4,235
3,910
Amsterdam St. Ry. Septemb’r.
35,251
4,665
3,309
Anders’D8t. Ry.(Ind.) October. ..
8,137
6,592
A tlanta Railw ay........ October. ..
4,787
5,500
Aurora St. Ry. (Ills.). O ctober...
Baltimore Traction.. O otober... 100,548 98,500 ,052,908 965.461
1,596
1,490
Bath St. Ry. (N. Y .).. October. ..
17,721
17,598
6,696
6,985
76,915
Bay Cities Consol— O ctober-..
74,881
Binghamton St. R y ... O ctob er... 10,385
9,388 122,082 106,736
Bridgeport Traction. October. .. 24,514 25,976 272,766 254,415
Brockton Con. St. Ry. October. .. 30,336 25,763 270,030 231,976
Brooklyn E levated .. July........... 127,910 159,745 ,040,52b 1,282,454
Br’klyn Rap.Tr. Co.—
Brooklyn H eights.. November. 360,047 334,924 4,030,943 3,586,622
Br’klyn Qu’ns & Sub November. 59,311 51,483 659,707 560,674
Total for system . November. 419,358 386,407 4,690,650 4,097,29 j
1,031,237 985,799
Buffalo R y ................... Septemb’r.
October. .. 16,101 17,094 176,722 175,451
Chester Traction..
Chic. A So. Side R.T . Septemb’r. 50,945 52,407 519,6*3 538,592
Cin. Newport & Coy.. A ugust___ 62,976 62,736 436,377 405,371
City Elec. (Rome,Ga.) October. ..
17,2 L8
1,553
Cleveland City R y.... A ugust__ 113,394 100,062 762,634 688,188
Cleveland E lectric... Septemb’r. 134,922 134,237 1,238,863 1,103.961
Cleve. Pains v. A E ___ O ctober...
7,158
Columbus St. Rv. (O.) 4th wkNov 11,929 i l , 709 569*944 565.653
Coney Island <s. B’lyn. October. .. 24,461 25,367 297,771 335,753
Consol. Traction. N.J. Septemb’r.
245,538 2,092,756 1,869,635
Danv. Gas El. Light &
Street R y.................. August—
64,655
Dayton Traction........ A ugust___
5,914
Denver Con. Tramw. O ctober... 71,312 68,103 613.555 604.287
Detroit R y................... O ctober... 34,695 22,402 356,462
Duluth St. Ry............ October. .. 20,777 22,008 196,335 197,198
Enterp. RR. (Chas’n.. Ju ly ..........
4,331
4,857
Erie Elec. Motor C o.. Septemb’r. 11,526 15,013 118,093 114,267
Fort Wayne Consol.. July ......... 19,282 13,012
95,514
66,790
Galveston C ity R y .. October. .. 17,931 17,634 179,623 184,639
Herkimer Mohawk Xiion A F ’kfort E l.R y . Ootober. ..
3,290
3,302
35,571
9,800
Hing’m (Mass.) S. Ry. J u ly ...........
Hoosick R y.................. October. ..
60l
*‘7,233
Houston City St. R y .. October. .. 18,714 17,346
Interstate Consol, oi
North A ttleb o ro .... O otober...
9,874
8,671 104,284
Kingston City R y....... O otober...
4,592
4,136
Lehigh Traction......... October. ..
9,729
101*,857
London 8t Ry. (Can.). O otober...
3,062
7,396
79,953
46,542
Louisville R a ilw a y ... A ugust___ 103,061 105,647
Lowell Law. A H a v .. October. .. 30,328 30,832 351.352 363,433
Lynn A B oston .......... 3d wk Nov 23.162 22,055 1,303,808 1,268.664
itfetrop. (Kansas City) 3d wk Nov 31,747 32,916 1,591,474 1,550,212
Montgomery 8t. Ry. O ctober...
4,640
4,610
47,793
42,127
Montreal Street R y ... October. .. 109,111 102,206 1,072,044 956,157
Nassau Elec. (B’klyn) O otober... 129,662 28,747
Newburgh E lectric... October. ..
6,278
6,117
New England 8t.—
Winchester A v e__ Ootober. .. 16,299 16,286 214,346 201,249
Ply in’th A Kingston Ootober.
2,487
2,087
29,237
26.348
T otal...................... 3d wk N ov
3,785
3,316 255,343 239.424
4,562
New HavenACentrev. O ctober...
4.769
40,252
47,364
New London 8t. Ry.. O ctober...
3,255
3,071
45,6 <3
47,305
New Orleans Traction October. .. 104,195 119,877 1,108,668 1,106,286
N. Y. & Queens C’y ... October. .. 30,544
Ogdensburg 8t. Ry. October. ..
1,462
14,808
Paterson R y................ October. .. 24,613 25,385 270,103 248,269
Po’keepsle A Wapp. F. O ctober...
6,352
74,057
7,289
Rapid Ry. (Detroit).. Septemb’r.
8,420
Roanoke Street.......... A ugust___
3,892 ’4,023
27,59(*) 23,979
Rochester R y....... _ ISeptemb’r.
652,373 647,065
BohuylkillTraction... Ootober. ..
9,054
75,982
81,869
7,410
Schuylkill Val. Trao.. October. ..
4,700
54,116
3,918
40,488
Scranton & P ittsto n ..:Septemb’r.
6,058
8oranton Traction,. . . October. .. 32,216 26,417 290,554 243.432
Second Ave. (Pittsb.) O ctober... 42.382 39.008 427,445 283.108 ’

Net E a rn in g s.----1896.
1895.
$
*
44.884
3 9 ,2 8 0
534,330
5 4 5 ,6 4 8

,---- Gross E a rn in g s.-----..----- Eel E a rn in g s.-----1896.
1895.
1896.
1895.
$
$
$
$
5,240
3,155
4,246
5 ,3 0 7
40,888
.............
51,527
.............

Roads.
Waterbury Trac. G o.. Oet.
Jan. 1 to Oet. 3 1 .......

A N N U AL

R E P ORTS.

A n im a l R e p o r ts .—T h e fo llo w in g is a n in d e x to a ll annua*'
re p o rts o f s te a m ra ilro a d s , s tr e e t ra ilw a y s a n d m isc e lla n e o u s
c o m p a n ie s w h ic h h a v e b e en p u b lis h e d s ia c e th e la s t e d itio n s
of th e I n v e s t o r s ’ a n d S t r e e t R a il w a y S u p p l e m e n t s .
T h is i n d e x does not in c lu d e re p o rts in to -d a y ’s C h r o n ic l e .
R a il r o a d s a n d M is c e l . Co’s.

Volum e 63 —

R a i l r o a d a n d M i s c e l . C o ’s (

Page.

A m e r i c a n T y p e F o u n d e r s . . .............792
A t c h . T o p e k a & S a n t a F e (6 m o s . ) . 791
B a l ti m o r e & O h i o ................. 9 0 1 ,9 2 1 , 926
C h ic a g o B u r l . & Q u in c y ........................ 877
C h ic . J u n e . R y s . & U n . S t k . Y d s . . . . 878
C h ic . P e o r i a & S t. L o u is (6 m o s . ) .. 791
C in c in n a t i P o r t s m o u t h & V i r g in i a . 79L
C l e v e la n d T e r m i n a l & V a lle y . . . . . 791
C o lu m b u s S a n d u s k y & H ... .......... 835
E v a n s v il l e & I n d ia n a p o li s ................ 878
I r o n - t e a m b o a t C o ................................. 966
K a n a w h a & M ic h ig a n .......................... 792
L o n g I s l a n d R R ...................................... 836
M a n h a t t a n ( E le v a t e d ) R y .................. 876

Volum es 63—

Oon.y

Page.

M e x ic a n N o r t h e r n ................................... 792
M is s o u r i P a c if ic ...... ................................ 877
N o r t h e r n P a c if i c ............................. . . . 835
N o r t h e r n R R . o f V ew J e r s e y ........ 837
P e n n . H e a t L i g h t & P o w e r ........ ....... 793
S o u t h C a r o li n a <&G e o r g i a ..........
965
S o u t h e r n P a c i f i c ............ .................... 835
S u l li v a n C o u n t y ..................................... 877
V e r m o n t V a l l e y .......................................... 877
W h e e l i n g & L a k e E r i e ...................... 792
W is c o n s in C e n t r a l . . .......................... 921

S t r e e t R a il w a y s .
R o c h e s t e r R y ........................................... 96 5
W e s t E n d S t. R y . ( B o s t o n ) ................ 9 6 6

B a l t i m o r e & O h io S o u t h w e s t e r n R a ilw a y .

fReport fo r the year ending June 80,1896. J
The remarks of President Edward R. Bacon in the annual
report, together with the balance sheet, are given at length
on page 1020.
The results for the years ending June 30 were as below:
O P E R A T IO N S F O R T E A R EN D IN G J U N E 3 0 .

1895-96.
922
Miles operated June 3 9 ..
2.583,312
Passengers carried...........
97,892,2^0
Passengers carried 1 m ile
1-76 cts.
Rate per pass, per m i e ..
3,900,641
Tons m oved.......................
589,682,872
Tons moved 1 m ile
0*683 cts.
Rate per ton per m ile---E a rn in g s $
4,029,326
F r e ig h t................................
1,724,903
Passenger ...........................
405,137
M ail......................................
179,000
E xp ress..................... .........
10,167
T e le g ra p h ..........................
109,861
M iscellan eou s...................

1894 95.
2,450,453
84,335,155
1-95 cts.
3 ,6 '8 ,0 3 6
518.443,274
0-784 cts.
$
4,064,194
1,645,076
335,280
179,000
10,454
89,032

1893-94.
922
2,408,478
8 6 ,182,367
2 03 cts.
3,573,126
488,398,625
0-799 ots.
$
3,902,046
1,745,787
335,017
179,000
9.289
89,058

Q.JO

Total earnings...........
Operating E xpenses—
General e x p e u se .s...........
M alnt.of way and9truo..
Maint. ot eq u ip m en t. ...
Conducting transport’n ..

6,458,395

6,323,036

6,260,197

644,656
654,247
513,20 L
2,476,221

623,717
630.389
429,767
2,333,232

563,722
709,805
453,374
2,237,102

Total expense# ___
N et earnings.......................
Other in c o m e ...................
Interest b a la u o e .............

4,288,325
2,170,070
2,250
7,348

4,017,105
2,305,931
2,250

3,964,003
2,296,195
2,250
2,568

T otalln oom o ..............
Ded’otint.on bonded debt
Rent.B.&O.S. W.Term.Co.
Taxes and assessm en ts..

2,179,669
1,780,648
60,000
275,131

2,308,181
1,761,486
60,000
270,246
4,393

2,301,013
1,694,353
57,500
264,730

Total deductions.......
Surplus incom e......... .......

2,115,779
63,889

2,096,125
212,056

2,016,58*3
384,430

D eckmbsb

THE CHRONICLE,

5 , 1896.J
G E N E R A L BALANCE

SHEET JUKE 30.

A s s e ts .
1896.
C ost o f ro a d , e t c ................................................. $ 7 7 ,6 '0 ,4 8 3
C o n s tr u c tio n ......................
726,797
E q u ip m e n t o w o e l .............................................. 2 ,1 1 0 .1 0 0
5 1 2 .2 0 0
E q u ip m e n t le a s e d ............
S c o u tltie s of o th e r c o m p a n ie s .......................
7 9 9 ,7 7 5
In c o m e b o n d s In t r e a s u r y .............................
3 6 1 ,0 0 0
• R ea l e s ta te . ..........
15,7 0 5
C ash on h a n d ...............
9 4 ,3 4 5
Ca*u w itn a g e n t s .....................
8 4 3 ,7 4 2
1 5 1 .0 7 5
U n ite d S ta te s G o v e rn m e n t.............................
D ue f r m o th e r r o a d s .
.........................
4 8 ,0 8 9
D ue fro m in d iv id u a l* a n d c o m p a n ie s .......
2 6 * .8 4 8
A g e n ts 'c u r r e n t b a l a n c e s ...............................
161,861
B ills re c e iv a b le . . .
6 0 ,3 0 0
B . A O . 8. W. T e rm in a l C o..............................
..............
A d v a n c e s to f r e ig h t H ues, e t c .......................
19,9 1 7
M isc e lla n e o u s ................................
9 4 .7 5 5
M a te ria ls a n d s u p p lie s ......................................
3 5 2 ,9 + 3

Total assets

1895.
$78,052,411
3S 8,'33
2,016,404
512,20«»
1,014,775
7,705
255,085
804,671
87,618
38,855
2 >0,604
150,138
300
102,140
17,377
68,572
310.530

$34,212,010

$84,047,879

1896.
C a p ita l s to c k , p r e f e r r e d .................................. $20,000,000
C a p ita l s to c k , co u i i n o n .................................. 10,000,0u9
f u n d e d d e b t ........................... ............................ 51,830,665
E q u ip m e n t t r u s t c e r tific a te s ........ ............
191,000
BUI* p a y a b l e ......................................................
129,615
E q u ip m e n t leas.* w a r r a n ts ........................
12.923
U n p a id wan?**. J u n e roll*, e tc ..................
236,192
A c c ru e d I n te r e s t o n b o n d s ........................... .
787,523
4.215
A c c ru e d in te r e s t o u e q u ip , c e r ts . . . . . . .
28.H87
P a s t-d u e c o u p o n s a n p * ld
.........................
I n te r e s t o n In c o m e , s e rie s *• A '* . . .
16.155
12,243
I n te r e s t o n B 4c O**. 8.1W. K & Inc. b o n d s
175,177
T a x e s a c c ru e d h u t n o t d u e ................ ........
552,917
A u d ite d v o u c h e rs p a t a b l e ...........................
16,451
D ue in d iv id u a ls a n d c o m p a n i e s ...............
75,124
D ue to o th e r r >a I s ........ ................. ............
4.202
A c cru ed r e n ta ls , re a l e s t a t e .........................
6,213
T e rm in a l c o n t r a c t ............................ .................

1895.
$20 ,000,000
10,000,000
5 1,2-5,250
262.000
322,724
56,694
23«,633
771,342
5,580
26.5*25

L IA B IL IT IE S .

E q u ip m e n t t r u s t c e rtific a te * c a lle d la.
A g e nu* d r* f s fo r c h a r g e s o u ts t a n d i n g ..
8 p - o ia l re s e r v e f u n d ............................... . . .
M isc e lla n e o u s ...................................................
P ro fit a n d lo s s ................ ............. .....................

2,000

25.219
1*6,515
94,467

r a t a l ................................................................ $84,212,040
—V . 0 2 , p . 867.

25,501
164.038
336.973
250
99.982
4,315
56,390

41,033
170,650
50,324
63,096

T o ta l...................
N e t ..............................
Charges—
Interest on bonus..
Taxes, e t c .................

378,289
66,170

338,962
54,933

319,184
69.274

325,103
50.684

75,0(10
32,951

75,000
34.480

75.000
32,484

75,000
27,319

T o ta l...................
Balance, deflolt.......

107,951
41,779

109,480
54,547

107,484
38,210

102,319
51.635

C e n tr a l O hio R a il r o a d .

1895-96.
1894-95.
1893-94.
1892-93.
Tons carried............ 2,375.153
1,935,094
1,743,766
2,169.371
Tons carried l m ile. 167,910,5 »0 136,228,478 121,817,835 162.304,518
Passengers carried
460,327
434,531
493.626
543,814
Pass, carried 1 mile. 18,262,617 18,042,341 23,478,211 25,693,332
d a rn in g s—
$
*
$
$
Freight.......................
721,904
6 41,069
573,015
752,349
367.274
Passenger ................
347.353
388,241
459,152
Mr.il...........................
45,425
45,432
44,171
49,720
Express ...................
40,917
37,940
37,8**5
41,274
26,.561
21,943
M iscellaneous.........
23,084
24,358
116,577
598,803
221,775
149,655

1,046,119
152,986
419,687

889.768
206,833
383,811

902,770
166,658
374,300

1,036,810
240,043
464,399

34,919

28,409

36,316
260,672

$56,61 8
5,926,341

BALANCE SI1K*T ACOCST 3 1 .

fr o d u e u a v a ila b le -... —-.. W 3 l ,) 6 1
Oasb val of ,u b properties 16.449,182
flood w ill, p a te a u . e t o . . . . . I7.687.3t7

1,572.822
1.013,53!)

1895.
• 11,185.365
973.780
1.196.738
4,549,448
17.883,332
17,410,130

$11,161,163
1,258.154
1,706.032
4.061', 312
18,194.662
17,605,967

Total........................ ........$34,136,434

$35,203,482

•35,800,630

Common stock ........... ....... $20,237,100
. . . . 10.198,600
Preferred sux-k
3,068,000
Debenture b onds.. . . .......
459.301
Commercial account* .......
20,453
Accrued inter s t ....... .......
152,979
Dividend accrued . . . .........
Bills p ay ab le....* ......
I---------------T o ta l..... .................. ....$ 3 4 ,1 3 8 ,4 3 1

$20,237,100
10.103.600
3.06H.0O0
601,320
20,153
152,979
1,016,000

$20,237,100
10,198,600
3.326.000
563.778
22,173
162,979
1.300.000

$35,293,462

•35,300,630

1894.

le s s e e .........................

T h e u su a l d istrib u tio n by th e C e n tra l O hio o f th e re n ta l
receiv ed is sh o w n below , b u t fo r th e la te fiscal y e a r th e re n ta l,
a n d th e re fo re th e d iv id e n d , w as o nly paid in p a rt.
Rent»l re c e iv e d ....
Charges—
Interest on bonds..
D iv id en d s..........
Organizat’n expe’s.

419,687

1894-95.
$
383,811

1893-94.
$
374,300

1892-93.
$
464,399

112.500
171,594
*10,300

112,500
171,594
10,157

112,500
171,594
9,166

112,500
171,594
5,760

T otal...................
B&lano, surplus___

294.394
125,293

294,451
89,360

293,260
81,040

289,854
174,545

1895-96.
$

• Estim ated.—V. 63, p. 188.

C o lu m b u s & C i n c i n n a ti M id la n d R R .
( Results f o r yea r ending Ju n e SO, 1896.)
T h is ro a d is leased t o th e B a ltim o re & O hio a n d fo rm s th e
M id lan d D ivision. In te re s t a n d d iv id e n d c h a rg e s g iv en below
a re th e fu ll c h a rg e s fo r th e y e a r, b u t th e in te re s t ($45,000)
a n d d iv id e n d ($15,000) fo r th e six m o n th s e n d in g J u n e 30,
1896, h a v e n o t been p a id b y th e lessee as p ro v id ed in th e
lease. T h e lessee re p o rts e a rn in g s, e tc ., a s follow s:

— V . t>2, p . 8 6 7 .

L y n n k B o sto n R R .
( E a rn in g s fo r y e a r e n d in g Sept. SO, 1896.J
E a rn in g ", expense*, e tc ., h a v e been re p o rte d aa fo llo w s:
1895.
8
1.376,977
784.302

1894.
$
1,236 573
746,303

...
Other lu op rn e........................

582.373
5,219

592,585
4,412

490,270
1,835

................... . . .
„
Divide ml*................................. . . .

597.592
A89.187
92,832

596,997
503,663
80,000

492.105
379.028
80,000

6,573

583,663
13,334

T otal...................................
Balance, surplus...................

1,326,853

113,447
532,463
151,204
105,056

33,060

$5,982,959

Net Income

1,069,428

100,376
511,540
145,820
131,532

310,621
205,387
240,702
Los* to le s s e e ...........
CENTRAL OHIO STATEMENT.

•6,194,741

1896.
*
...1 .4 2 0 ,7 0 2
938.329
»operating exp en se*.............. . .

1,096,601

80,664
565,057
235,559
164.839

Total ...................
N e t ..............................
Rental under lease..
T a les, eto., paid by

sur. $82,450
25.832

Years en d in g Mept. 30—

1,199,104

.$283,680
191,866
201,374
30.934
24,000

#2 : 7 . 1 1 7 sur. #218,531
16,749
.............
•201,782
5,962,959
6.184.741

L ia b i l i t i e s —

375.789

56,194
181,213
33,511
48,266

$264,360
208.885
176,264
59,102
25.800

Deflett................................
Prop'ty sold or dest’yd, Iosa

C a s h ....... ..............................
Bills fveelvatile..................

388.458

53,780
197,666
38,658
48,758

1893-4.
$1,428,152

$731,855
$696,297
6 in ,847

1896.
....* t l,2 « !l,8 6 4

393,795

34,152
223,978
50,725
69,434

1894-5.
$1,56;,862

$734,191
$831,671
613,141

iw llKr»l .sta te , etc

44 4,459

Total ................
Expenses—
General
.............
T ransportation.......
E q u ip m e n t....... ......
Malnten. of w ay----

•5 5 1 .6 3 2
•331.799
611.916

Total t a r p la * .............. •5,907.622

Total .. . ...........
Expenses—
G eneral.....................
Transportation.......
Equipment ............
M alntenanee of way

O PER A T IO N S, EA RN IN G S, BTC.

Total 'in d u ction *...........
le a v in g net balance -------Dividend*.. ........ ................ .

Surplus ............. ...........
Previous surplus.. . . . . . . . .

OPERATIONS, EARNINGS, ETC.
1895-96.
1894-95.
1893-94.
1892.93.
1,118,854
Tons oarrled............
1,011,165
694,793
885,042
Tone carried l m ile. 76,017,322 68,877.572 44,894,641 61.92 7,470
Passengers carried..
76,205
72,791
181.384
8 3,195
Passengers car. 1 m. 4,413,750
3,895,073 11,741,957
4,3 L8,497
E a rn in g s —
$
$
$
$
F r e ig h t......... ............
347,1*4
303,796
203,184
297,884
P assenger.................
79,433
72,726
165,837
72,214
Mail ..........................
7,648
7,793
7,793
4,335
Express ...................
9,815
9.158
6,500
1,250
M iscellaneous..........
409
322
144
106

2.000

r a o r r r s a n d d is u u b s e m b x t s .

S « profit*....... ..............
Da&mei—
Interreton bind*. ................ $245,440
f
Administration e ip e o e e s ...
otb er In terest.......... ............. j 306,192
DeprecUt o n ......... ..............
(
Premium bond* redeemed .

Akron & Chicago Junction RR,
( Results f o r y e a r ending Ju n e 30,1896. J
T h is ro a d is leased to th e B a ltim o re & O hio a n ^ fo rm 3 th e
A k ro n i ivision. T he in te re s t c h a rg e s g iv e n below a re th e
fu ll c h a rg e s fo r th e y e a r, b u t th e co u p o n s d u e M ay 1, 1896,
w e re n o t p a id u n til O ctober. T he N o v em b er, 1896, co u p o n s
w ere purchased by V e rm ily e & C o., N ew Y o rk . T h e lessee
re p o rts e a rn in g s, e tc ., as follow s:

25.62 4
fR e s u lts f o r the y e a r ending Ja n e SO, 1896. J
105,769
T his r o i d is leased to th e B a ltim o re & O hio a n d fo rm s th e
13.8 -.2
266,931 C e n tra l O hio D ivision. T he lessee re p o rts e a rn in g s, c h a rg e s,
$34,047,879 e tc ., as fo llo w s :

A m e ric a n C o tto n -0 1 1 C o m p an y .
( R e p o rt fo r t h i ye a r e n d in g A u g . S I, 1896. J
T h « re p o rt o f th ia c o m p a n y fo r th e fiscal y e a r e n d in g A u<.
31, 1896. ha* been is .U 'J a n d ia p u b lish ed a t le n g th on
p a g e 1009. I t e m b r a c e e x te n d e d le m a rk s b y G eo rg e A .
M orrison, C h a irm a n of th e B o ard of D ire cto rs, a n d gives
m a n y detail* re g a rd in g th e p ro p e rty a n d th e re su lts o f th e
y e a r’s o p e ra tio n s .
T h e fo llo w in g c o m p a riso n fo r th r e e y e a rs h as been p re p are d
fo r th e C h r o n ic l e :
1895 6.
$836,A31

1007

T otal n u m b e r of p a l-fo y e rs c a rrie d in 1895-6 w as
a g a in s t 85,#51,493 in 1894 5.—V. 63, p 457.

O PE R A T IO N S, EA R N IN G S, ETO.

1892-93.
1893-94.
1894-95.
1895-96.
361,718
323,901
436,308
397.809
Tons carried............
Tons carried 1 mile. 22,403,949 23,275,322 16,898,179 18,954,528
240,020
218,152
218,568
2
LI,408
Passengers carried.
6,960,247
5,883.408
5,992,767
Pass, carried 1 mile. 6,333,000
$
$
$
E a rn in g s—
$
202,841
193,87#
243,189
218,478
145,312
130,872
131,960
132,587
P assenger. . . . .......
8.606
8,563
8,505
8,430
Mail.............................
10,782
9,279
9.967
10,351
Express......................
4,985
4,716
6,289
6,712
M iscellaneous...........
370,558

399,910

347,300

372,526

459,028
33,077

Total.......... .........
Expenses —
General.......................
Transportation.........
E q u ip m en t........... .
Malntenanee of way.

47,2,57
133,259
35,4**9
62,911

57,642
133,055
27,183
83,326

59,536
128,148
25,902
57,981

61,12*'
131,598
36,230
108,965

20,791,811,
—

Total.....................
N et.......................

278,836
97.722

301,906
98,00^

271,567
75,733

337,913
34,613

THE CHRONICLE.

1008

90.000
9,600
30.000

1894-95.
$
95,400
9,000
15,000

1893-94.
$
100,800
9,982
.........

1892-93.
$
100.800
8,091

129,600
31,878

119,400
21,396

110,782
35,049

108,091
74,278

1895-96.
Charges—
Interest on bonds Tuxes, etc................

$

D iv id e n d s ........

X0tai ..................
Balance, deficit.

Newark Somerset & Straitsyille RR.
( Results fo r year ending June 30,1896. J
This road is leased to the Baltimore & Ohio and forms the
Straits villa Division. The interest charges gieen below are
the full charges for the year, but no interest ba3 been paid
since the November, 1895, coupon. The lessee reports earn­
ings, etc., asjfollows:
T ods carried..............
Tons carried 1 m ile.
Passengers carried..
Pass, oairied 1 mile.
E a rn in g i F r e ig h t.....................
Passengei .................
MaU
....................
Express ...................
M iscellaneous...........

OPERATIONS, EARNINGS, ETC.
1892-93.
1893 94.
1894-95.
1895-P6.
480,981
272,958
3-3,439
484,327
20,510,047 15,935,827 1 1,117,4'6 19,460,103
32,252
39,356
22.843
30,579
561,391
453,460
46 4,659
331,315
$
$
$
$
85.356
131.864
112,295
129,065
13,578
8,333
11,21*3
10,902
2,330
2,365
2.337
2,337
301
241
295
296
353
446
£13
504

T o ta l....................
Expenses—
G eneral......................
Transportation. —
Equipment ..............
Main, of way............

143,104

123,573

99,623

148,544

11,376
70,893
18.981
34,559

21,629
60,899
11,409
31,659

21.816
56,322
11,091
22,8 49

22,985
7 6 ,5 13
24,905
32,970

T o ta l..................
B alan ce..............
Charges—
Interest on b on d s..
Taxes, e to ................

135.809
n et 7,295

125,586
def.2,013

112.068
def.12,445

157,373
def.8,829

40.000
8,745

4°,000
3.116

40,000
(or) 4,403

40,000
12,701

T otal..........
Balance, detlcit.......
—V. 62, p. 820.

48,745
41,450

43,116
45,129

35,597
48,042

52,70 L
61,530

S a n d u s k y M a n s fie ld & N e w a r k R R .

( Results fo r the year ending June 30, 1896.)
This road is leased to the Baltimore & Ohio, and forms the
Labe Erie Division. The leesie reports earnings, etc., as
follows :
O P E R A T IO N S, EA R N IN G S, ETC.

1895-96.
1894-95.
1893-94.
1892-93.
Tons c a n te d ............ 1,623,233
1.175,038
996,528
1,488,707
Tons carried ! m ile. 128,574,912 88.702,434 74,942,723 113,686.558
242,447
310,112
376, U 2
Pasaeiigera carried.
280,745
8,706,222 15,386,783 16,591,835
Pai-s. Oi-rrled 1 mile. 8,794,785
E a r n in g i —
$
$
$
$
414,902
487,901
600,062
Frelgh' ................
605,215
158,187
22 *,077
272,479
Passenger.................
172,127
37,828
37,834
41,628
Mail .. ......................
37,675
28,413
E x p ress......................
28,524
30,903
30,904
1,841
1,371
1,189
M iscellaneous...........
2,139
T otal....................
Expenses—
General...................
Transportation........
Equipm ent................
Maintenance of way

845,680

714,170

706,092

916,262

51,894
387,2L9
145,008
111,988

76,405
339,691
86,839
102,749

82,399
336,154
87,909
73,230

86,524
413,176
156,091
100,991

T otal....................

696,109

N et.............................

149,571

605,684
108,486
201,850
26,672

579,692
126,400
201,850
22,086

756,782
189,480
201,850
18,240

120,036

97,536

30,610

Rental u n d erlease.
201,850
Taxes, Ao.,pd.by lessee.
24,474
Loss to lessee—

76,753

SANDUSKY MANSFIELD A NEWARK STATEMENT.

The usual distribution, by the lessor, of the rental received
is shown below, but in the late fiscal year the rental, and
therefore the interest on bonds, was only paid in part. The
interest, however, which went to default July 1, 1896, will be
paid on Dec. 10. The dividend of 3 per cent was paid on
February 1 last
OPERATIONS, EARNINGS, ETC.

1895-6. 1894-5. 1893-4. 1892-3.
$
Rental under lea se ........................ 2Clf850 201?850 201?850 201,850
Charges—
Interest on bonds.....................1 6 1 .0 0 0
161,000 161,000 161,000
D ividends.......................
32,410
32,052 32,062
32.052
Organiz .Hon ex p en se s.......... *5,500
*5,500
5,537
6,239
Balance, surplus to S. M. A N .

2,940

3,298

3,261

2,559

* Estim ated.—V. 63, p. 30.

Brockton Consolidated Street By.
( Earnings for year ending Sept. SO, 1896J
Earnings, expenses, etc., have been reported as follows :
Year* ending Bept. 30 —
Gross e a r n l D g s .......................
Operating exp en ses.........

1896.
$
306,865
190,513

1895.
$
266,892
154,950

1894.

$

227,780
133,327

GEN ERAL

[Voii. L i m ,

INVESTMENT

NEWS.

Reorganizations, Etc. -Latest D ita a s to Defaults, Reor­
ganization Plans, Payment of Overdue Coupons Bio. —Ill
a c ts o f this n a tu re a p p e a rin g since th e p u b lic a ti m o ’ th e l a s t
issues o f th“ I n v e st o r s ’ a n d S t r e e t R a il w a y S u p p l e m e n t s
m ay be re a d ily fo u n d oy means of one fo llo w in g in d e x . This
in d ex doe- not in c lu d e m a tte r in to -d a y ’s C h r o n ic l e
R a il r o a d s a n d M is c e l . O o s .
V olum e, 6 3 —
Page
A t l a n t i c S h o r t L i n o ......................sale 967
B a l ti m o r e & O h io ................. coup- 70s, 967
Do
d o .......... recvr.'s ctfs. 907 i
I
B a y S t a t e G a s . . . . . ................... re c u rs .
753; re c u r s discharged, 8 3 7 ; com. 96? j
C a p e F e a r & Y a d k in V a l. Co..r>cvr. W2 >
C h e s te r A L e n o ir
..............s o li. 838
C h ic a g o A N o r t n e r n P a c if ic ...so ld . 922
C h ic a g o A W e s t M ic h ig a n
coup. 793
C in e in . J a c k . & M a c k ....................sale. 838
C in c in . A M u s k in g u m V a l------ coup. 879
C o lu m b u s & H o c k in g C. A l..reo rg . 793
do
do
£th<k lam insUil. 908
C r y s ta l R i v e r ............
sold. 879
D e s M o in e s W a te r P o w e r A E l . sale. 880
D e t r o i t L a n s in g A N o r t h e r n , .s Id. 88')
F t.W . A • >en. C itj.re c v r. discharged. 838
F o r e s t C ity & S io u x C i ty ........... sold. 908
G r a n d R a p id s & I n d i a n a ..........reorg. 7 5 1
G t S a lt L s k e & H o t S p r i n g s . . .sold. 880
G r e e n . A n d e r . & W e s t ..recvr. asked 94
H e l e n a C o n s o lid a te d W a t e r ..reo g. 88 3
I n d i a n a A L a k e M ic h i g a n . denosits. 9 f 2
J .ic k s o u v l ie T a m p a & K e y W .sale. 794
K e n t u c k y M id la n d
.............. sate 754
L i t t l e R o c k A M e m p h i s .............. sal*. 880
L o u is v . N . A . A C h ic a g o . reorg. 754, 8f*0
do
do
m odified plan. 922
M a r i e tt a A N o r th G e o r g ia — reorg. 837
M e x ic a n N a t i o n a l ........................reorg. 880
M id d le T e n n e s s e e A A l a ..........recvr. 968
N e w O r le a n s A S o u t h e r n ........... sold. 880

R a i l r o a d a n d M i s c e l . G o ’s (C o n )

V o lu m e 63—

P age.

N o r f o lk A W e s t e r n .coup p u r. 794, 968
N o r f o lk A W .. ..s a le o f Scioto Val. 880
N o r t h e r n P a c if ic . ............n eiosecur, 969
O g d . & L . Ctiiimp.deposlts7Q4,; reorg. 881
O h io S o u t h e r n ......................
sale. 881
O r e g o n I m p r o v e m e n t ...ti m e lim it. 881
do
Ralston plan, 92 ; reoro. 909
O r e g o n S. L . A U . N ..........c >uj>. 838, 881
P e n i n s u l a r E le c . L i g h t. ........ forecl. 909
P h ila . A R e a d .
o r j. 794, 838, 881, 923
R i c h m 'd M ic h . 1. A R
............. sate 795
R o a n o k e A S o u th . f s e e N . A W .)sold. 903 ■
S t. J o s e p h A G r a n d i s l a n d
s le. 979
S t. L o u i s C h ic a g o A S t. P a u l com. 795
S t L o u is A S a n F r a n c i s c o —K . C. A
S o u t h w e s te r n , .deposits. 705: sale. 839
S t. L o u is A S a n F r a n c i s c o —K.
0 A S o u t h w e s te r n ........
a g m t. 001
S t. L . V a n d a l ia A T . H .
. .. r e c u r . 924
S t. P a u l A N o r t h e r n P a c if ic .reorg. 754
S e a .A Ro& n.tran.unstpon d 795,839, 924
T e r re H a u t e A I n d ia n a p o li s . r e - v . 924
T e r r e H a u t e A L o g a n s p o r t . . ig m ’,. 750
do
do
deposits called fo r. 839
T e r r e H a u t e A P e o r i a ............recvr. 924
T o le d o S t. L o u is A K . C ........forecio. 750
U n io n P a c i f i c ....................... c o u p . 881, 924

S t r e e t R a il w a y s .

969

P a . T r a c . ( L a n c a s t e r ap p .fo rrecvr.
P e o p l e ’s T ra c.< N . Y .C ity )./ra n .so f< i. 969
S t r e a t o r ( il l.) R y .................. ..recvr. 970

American Cotton Oil —Annual Meeting —The directors
elected at theannunl meeting Dac. 3, 1863, are as folio ws: Elward D. Adams, William Bd Oout. fhos. R Chiu-w, Claries
F. Clark, James A. Garland. Coarles Lanier, George A.
Morrison, RobertF.Munro, J. Kennedy Tod, E. Urquhart, R.
T. Wilson, all of New York City ; J. Frederick CaambirliD,
Summit, N. J.; M, Frank, Atlanta, Gi.; Garret A. Hobart,
Paterson, N. J ; John H. Maxon, Sf. Louis, Mo. The annual
report will be found on pages 1019 and 1030.—V. 63, p, 867.
Arbuckle Brothers’ Sugar U ant.—Independent Refinery.—
The firm of Arbuckle Brothers, the coffee merchants and
millers, has advertised for a sugar refining superintendent,
and has contracted for the building of a refinery to cover, it
is stated, an entire block on John S rei t, between Pearl and
Jay streets, Brooklyn, near their coffee mill plant. The refin­
ery is to have a capacity of 3,000 barrels a day. The enter­
prise, it is thought, was forced on the firm (in connection with
its custom of supplying two-pouad packages of sugar) by
rivalry in the coffee business.
Baltimore City Passenger Ry.—Bonds S o li.—This com­
pany has sold $500,000
per cent bonds to the .Mer­
cantile Trust & D posit Co. “ The proceeds are to be used for
extensions, betterments, etc.—V. 63, p. 84.
Bay State Gas—Another Application fo r a Receiver.—
Another application for a rtc iver was made on Dec. 3, this
time by the Fidelity Insurance Trust & Safe Deposit C impiDy
of Philadelphia, executor of the late Henry C. Gibson of
that city, whose estate is the holder of 3,759 shares of ths
stock. In the bill the trust company avers that the company,
acting at the dictation of Mr. Addicks, disposed of certain
stock for an inadequate consideration, and that if the com­
pany had been properly managed it would have been able to
pay interest and dividends.—V. 63, p. 967.
Baltimore & Ohio RR.—Receivers' Certificates fo r $650,000
Authorized.—At Baltimore, Nov. 27ch, Judges G iff and
Morris authorized the receivers to issue $650,000 5 per cent
receivers’ certificates. They are dated Dm 1, 1896, and ma­
ture Dec. 1, 1899, but are redeemable D m. 1, 1897, or any
interest day thereafter. At the hearing upon the application
for the ceriificates Messrs. Choate & Guthrie appeared for
Messrs. Speyvr & Co., who represent over a m ij anty of the
Pittsburg & Connellsville 5 per cent bonds of 1935. The cer­
tificates are made primarily an obligation of the receivers,
and also a first and preferred lien upon all interest of ths
B. & O. RR. Co. in the property and securities of the Pitts­
burg & Connellsville, and secondly a lien upon the Pittsburg
& Connellsville road itself in priority to the first consolidated
mortgage of 1875, as appears from the following extract;
Tbe certificates are primarily a debt and obligation of the receivers
and are also a first and preferred lien and charge on all n gn t, title
property and in terest of said 3. A O. Co. or its reoeivers, whether as
lessee, creditor, owner of bonds or stockholder in and to the said
Pittsburg & Conneiisville RR. Co. and Its property as shown by said
petition.
I he certificates shall b 3 also scoured by a preferred lien and charge
upon the property, earnings and income of the Pittsburg A. Oonnellsville Id priority to the first oonsul. m ortgrge of Deo. 13, >375, and tbe
second consol, m ortgage of Jan. 31. 1885, but sucb certificates shall,
notw ithstanding such lieu, ba the primary debt and obligation of the
reoelvers of the B A O., and be payable out of the afori-g id right, title,
property and Interest of the said B. & O., and only in case or such de­
ficiency shall they be paid out of the earnings, incom e or property of
tbe said Pittsburg A Connellsville RR. pledged under said 1st and 2d
CODSOl.

Assqpsment on First Preferred Stock.—President Gill of the
Mercantile Trust & Deposit Co. of Baltimore has called an
assessment on the first preferred stock that joined in the
litigation to secure the payment of dividends. Out of the
Tot»l ................................................. 84,707
77,505
92,313
total issue of 30,000 shares the movement has the supp irt, it
34,437
2,140
Balanoe, surplus for year................. 31,645
is said, of 22,000 shares. The assessment is small and is
Total number of passengers carried in 1895-96 was 6,327,923. to cover the cost of the litigation. Papers in the case have
against 5,864,196 in 1894-95.
been tiled in the United Stat s Court.
N et e a r n in g s...................................... 116,352
Interest, taxes, eto.............................. 48,947
D ividends.......................
35,760

111,912
61.375
26,130

94,453
77,313
15,000

DgCEMBEB 5 1896.]

THE CHRONICLE.

1009

i l \ Little's Report. — T h e rep o rt o f E x p ir e S te p h e n L ittle i The Postal C onnany had ia operation at t i e end of 1 -19 > nearly
19,500 mllas of poles and oab'es, over 117,0 K) miles of wire, 2,037
o n th e tin a n c -s "f th e c o m p a n y w a s m ad e p u b lic o n T h u rsd ty. otlioes.
and th :re were transm itted during the year about 12,503,000
Full p i r i u la rs r e g a r d in g it w ill be p u d is h e d in th e C h k o n - ! messages.
The prosperity of the Commercial Oomuauy has been to a great e x ­
ICLB next w e e k . In th e m ea n t im e th e f o i l 3w in g ta b le w ill
se r v e to s h o w in w h a t resp e c ts Mr. L ittle b e lie v e s th e c o m -! ten t ouuonrrent with ta : extensi ms m i le to the Post il Com nan v’s
system. In 1895 the Postal Oomnan - oolle .ted and d slivered for the
panv h a s b een a t fa u lt in its m :th o d s o f b o o k -k e e p in g :
Commercial Com eany som? $400,01) of train j , about one third of the
rrxTXMB'rr o o v s a w o pe r io d p r im s e p t . 3 0 .1 3 3 6 , to xov. 30, 1395. I Commercial Company's gross revenue for that year. Ths earnings
accruing to the Postal Company from this latter sum am m ited to
Over-st«tero*-nt of not Inoome [the su rp lis over fixed
about $95,OOJ. a comparative! 7 unlmportsn'i item in than oomoany’s
charges) through Improperly er-ditlng thereto arbt'rsry
gross revenue of $4,321,296 for the year. These figures ela vrly demon­
am ounts ferin e: eased v a lie of securities otvaed. also
strate
how essential this business Is to the Comm jrolal Company.—V.
book entries. »uon a* interest on advances to leased
62, p 412; V. 63, p. 515.
li ies. etc. (these overstatem en ts eoveriar the period
from Sept. 30. 1 8 9 .. to June 3 0 ,1 8 9 5 ).............. .................. $2,721,063
Denver & Rio Grands RR,—Dividend Declared—k i ex­

Mlarbirg* of vroru-out equipment to profit an 1 loss, ins'ead of ine jme . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Im proper enpltaltz itlou of charges to income under the
t i t l e o f e o n s ' ruction, main stem. eto„ etc. [“call th :se
f improvements by wh irev,-r name we m ty, extraordinary
or o t h e r w i s e , their character is such th at i c a n 's e e n o
p r o p r i e t y in o I P I U I I I 'O K tu 'm
The primary object of
n i l n e r e a s e 1n iiti alls U l o a Is, or should b >, to obtain in­
c r e a s e d revenue com m ensnra'e therew ith.”—Mr. Little]
Im proper capitali* tion o f s o c a lle l improvements and
b e t t e r m e n t s o f l e i s e . l nr depend m t roads ..... . . . . . . . . .

2,943,596

2,061,741
3,575,453

Total covering 7 years u x l 2 m o n th s......................... ...$11,704,858

D lsiribnilnc this amount by years, Mr. Little reduoes the surplus

over fixed ch irges (other th in those to retire bonds! and over divi­
dend (3 ow>,on) oa the preferred stock, as this snrnlus wss reported
In th e oom >say’s r-p o rts-K o r 1 9 9 1 9 5 . from $ 1 , t o o ,6 8 1 to deficit of
$ 2 9 4 , 0 1 3 ; f>r 1 8 9 3 0 1 , from $ 1 , 2 7 2 , 3 1 4 t> deflolt of $ 1 3 , 4 2 5 ; for
1892-93, from surplus of $ 1 , 5 8 3 , 5 1 8 to surplus of $ 3 6 2 ,7 2 6 .

The repsrt shows the flsatiDg dsbt of Baltim ire Sc Ohio
an follows ; Net debt of Baltimore <fe Obi >(excluding stocks
and bonds owned and deducting $1,564,530 (net) oifsets 16,460,499; notes of other companies endorsed by B. & 0. and
shown on the B Sc O books, #943,241 ; notes of other compa
nies end rsed by B. SC O. and not shown on the books. $5,491,834 ; estimated amounts due for completion of work, $415.000;
equipment trusts, #2.910,156 ; total net floating debt, $16,212.780.—V. 63, p. 967.
Brooklyn A Brighton Biach HR.—Coupons in D efault.—
The coupons due Sept. 1, 1896, are in defaul t. The coupons
of March, 1896. were paid March 24, 1896.—V. 63, p. 754.
B r i n k If n U n i o n Was— New Acquisition.—'The Queens
County St Richmond Hill Gas Light (Jo. has applied for per­
mission to transfer its franchise to the Brooklyn Uuion Gas
Company. The Queens County Company, it is stated, has
laid 15 miles of pipe, but ia not supplying g a s .— V. 63, p. 967.
Cape Fear A Yadkin Valley HR -Co-Receiver',Denied —
Judg- Si-nontoo, of the United States Circuit Court, at Rich­
mond. Va., last week denied the application of the Farmers’
Loan & Trust Co. fer the appointment of a oo-receiver of this
road to act with the present receiver.—V. 63, p. 922.
Central Pacific KR —Extension o f Bowls.— Referring to
the notice given last week, Speyer Sc Go. announce that their
offer of a bonus of #5 on each #1,000 first mortgage gold bond
extended will be limited to Dae. 10.—V. 63, p. 987.
Chicago * Northern Pacific KR —I \a n o f Reorganisation
in Preparation. - A t a meeting of the Reorganiz »tion Com­
mittee ibis week a s u b c iramittee was app noted t> prepare
the pre iminaries as a basis for a plan of reorganization and
to re port to the full committee within a fermight.—V. 63,
. 963.
^ fth lcsgo Rock Island Si PaclUc R R —.Veu> Bridge at
Rock Island-T h e bridge across the Mississippi from Daven­
port, lo w ., to Rock Island, III.,is about completed. The new
bridge, which repLces an old single-track structure built in
1872 is a double-track railroad and highway, with a total
length of 1,830 feet, including a d r a w span of 308 feet, op­
erated by electric power. The estimated cost of the bridge
is #490,000, of which the Chicago Rock Island * Pacific: pays
60 per cent and the Government 40 per cent.—“ Railway
A g e/’—V. 63, p 879.
City A Suburb m Romes Company.—Stock OJfered.—The
#1,000,000 s-ook of this company ia #10 shares is off :rdd by
J. P. M >rgan Sc C i.t United S ates Trust Co., Fifth Avenue
Bank and the United States Mortgage * Trust Co. Th: offlc^rfi&re:
Elgin R. L Qjuld; Vice*Pfe8ident, Siffl
uel D. Babcock; Treasurer, Charles Stewart Smith; Secretary,

Arthur W. Milbury.

pected, the directors this week dsetared a semi-annual div.
idsndof 1 per cent on the preferred stock I; is ptyable Jan.
15. A member of the biard said tha: th: acosuats for the
half-year showed a strong financial posicioi and perfect
ability to pay the dividend. The suro'u: over charges for the
four months ending Oct. 31 was $290,203. The divilend calls
for #238,500.—'V. 63, p. 838.
Detroit A Mackinac Ry.—New President.—J. D. H twks,
Vice-President of the company both before and afeer reorgan­
ization, has been elected President, succeeding 0. H Cistsr,
of J. P. Morgan & Co., who was elected to ths offiie when
the company was reorganiz ed.—V. 01, p. 558.

F o r t W o r th & D e n v e r C ity R y .— R e o rg a n iza tio n C o m ­
pleted. —B ond s Re-issued.— Coupon P a y m e n t —Unler the

provisions of the amended plan of reorganization (V. 63, p.
75), the Mercantile Trust Company is now delivering upon
presentation of its certificates the first mortgage bonds of the
Fort Worth & Denver City Ry. Co. deposited with i t ; also,
#312 of the Railway Company’s preferred 4 per cent stock for
each bond deposited. Coupons due June 1 and Duo. 1, 1896,
are also being paid, as stamped (2 per cent), upon presentation
to lhe Mercantile Trust Company. There is being collected
from each bon i $5 towards defraying tbe expenses of reorgan­
ization.—V. 63, p. 838.
General Electric Ry-, Chicago—M ortgage F ile d . —This
company ljas filed a mortgage for $3,000,000 to the Title
Guaranty & Trait Co. of Chicago, as trustees for the State
Trust Co. of New York.—V. 62, p. 988.
Indiana & Lake Michigan R R .—Foreclosure S u it. —At
Grand Rapids, Nov. 28, the Central Trust C irnpanv, the
mortgage trustee, brought suit ia the Uniced States Cirouit
Court for the foreclosure of the mortgage of 1839 for $480,000,
interest on which was guaranteed by the Terre Haute &
Indianapolis, but went to default Sspt. 1, 1893. A receiver
also is asked for.—V. 63, p. 922.
Kentucky & Indiana Bridge.—To b eS old in Foreclosure. —
At Louisville, Ky., Dec. 2, Judge Barr ordered tbe foreclosure
sale of this property.—V. 63, p. 601,
Lake Shore & Michigan Southern Ry — Q u a rte rly —Earn­
ings forth: q larter and tbe niae m metis ending sspteaaber
30 have been reported as follows:
Gross
3 m onthr
earnings,
end. Seyt. 3 0 $
1 9 9 6 ................. 5,025.536
1 8 1 5 .................. 5,502.470
9 months —
1 8 9 6 ....................15,151.425
1 8 9 5 ....................15.168,463

,V«(
Other
earnings, income,
$
$
1,902.741 113.9t8
1,926,571 147,897

Interest,
taxes,etc.
*
1,118 918
1,152,897

Balance,
J o r d tts .
*
897,741
921,571

5,429.392 334,258
5.503,286 352,912

3,349.258 2,111,392
3,382,912 2,473,236

D.vidends of 3 per cent (amounting to $1,483,995) are paid
each February and August.—V. 61, p. 402.
Lehigh Coal & Navigation —Bonds to Be Extended.—
The company has arraog:d with M:sars Brown Bros. & Com­
pany for tbe extension to Apr. 1, 1914, at 4 per cent interest,
of the $2,000,000 loan which falls dus on February 1 next.
This loan is a first lien on the lower section of the Lehigh
& Susquehanna RR., which extends from Mauoh Cnunk to
Phillipsburg, N. J., 46 miles of double track, including the
bridge over the Delaware River, third and fourth tracks, and
branches in addition 35 mi'es. The cost of the property cov­
ered by the mortgage to July 31, 1895, was $8 041,595 The
coal tonnage of this division of the road in 1895 was 4,849,000
tons and the tonnage of all the divisions was 5 559,000 tons.
Holders of the bonds will be pa d in cash the face of their
bonds, or they can extend them upon payment of a premium
not yet announced. The bo ids are to be endorsed a3 follows ;

Commercial Cable.—Postal Telegraph Cable.—V ir tu a l
- B y ag-eem ent betw een the holder of this certificate and the Le­
C o n so lid a tio n —The stockholders of these companies will high Coal & Navigation Company, ths tim e for the p iym ent of tills

meet Dec. 22 to vote on a proposition to exchange the stock
of the Postal Company (#15,000,000 in all) dollar for dollar,
for new 4 per cent gold bonds of the Commercial
Cable Co., part of an issue of #21,000.000, of which >5,000,000
will remain in the treasury. The Postal Company paid im
first divid nd at the rate of 1 per cent quarterly in April. 1396.
The Commercial Co. has paid 7 per cent annually since 1891
and this week declared an extra dividend of 1 per cent, lhe
two organiz iiions have been working together on an agree­
ment which expires this year, and it was decided to make the
union a permanent one. A circular to the stockholders of the
Commercial Csbl * Co. says in part;
. n
T h e Corecnvr*-14 C a b 's ComD eny, w h ic h b e g a n o p e ra tio n s la Deoemosr, l i n t , soon fo u n d t h a t f u tu r e su o c ss w is dependent UDon h iv iu p
A xrliu ilvm liimMlDA coD aeotloun. an*l w ith t h l t en l In v iew >lr. Jo im w .
M .e ^ v . . ^
o r th e P o s c .l T e le g ra p h C o m pany,

which was re o rg a n iz e d u n d e r tb e n a m e o f th e P o s ta l T e le g ra p h _ L a llo
r.jtD p s tii in F e h rn a n r, U 8 8 . T h e line* o f th e P o s ta l C o m p » n y silace
that l l t t i have b een grad u a llr a n d | ,dl«lnu,'T
“e„r?y
elose of 1995 t h - c o m p a n y o w n e d a s y s te m w h ic h O T b n icw l n e a r e r
e v e ry co m m crel* ! c e n tre o f an y o o n seq u e n o e In the U n ite d B tatea he
tween the A tlantic and P aclflo O cean a

loan Is extended unitl April l , 1914. and the holder hereby agrees to
aocept Interest after February 1, 1897, at four per oeut per annum,
payable quarterly, nrovided the prtoolnal and iuterest are paid in gold
coin of the United States, free from all taxes Imposed by the United
States or State of Pennsylvania, under present or future laws.

A typewritten circular regarding the exsensioi says thvt
disinterested experts place tbe available coal tributary to the
lines of the Lehigh Coal & Navigation Co. at 877,539,700 tons
[sufficient to cover shipments for 163 years] of which 507,0 17 ,5 5 0 tons are owned or controlled abjolucely, making the
company “ the third largest owner of coal tonnage in the
State.”—V. 62, p. 683.
Lehigh & Hudson River Ry.—Quarterly—Eirnings for
the quarter ending September 30 hava been

3 months
Gross
Xet
ending Sept. 30—
earnings, earnings.
18 Jfl. . . . . . . ........................... $87,815
$ l» .8 f5
1895......................................
95.26
J37,848

Interest, Balance,
taxes, etc. surplus.
$5,058
$34,747
3,502
34,345

Loans and bills pavable Sept. 3), 18)6, $393,500, against
#398,500 on June 30.—V. 63, p. 502.

1010

THE CHRONICLE.

[VOL. LX1I1.

Long Island UK.—Q u a rte r ly .— Earnings for the quarter gross, $91,617; total of three roads for September quarter,
1895, gross, $408,052 —V. 63, p. 557.
ending September 30 have been :
Net
Other
In terest, B alance,
Gross
National Linseed O il—No Receiver —At Chicago, Nov. 30,
3 m onths
su rp lu s. the Appellate Court dismissed oa demurrer the petition of
earnings, income, taxes, etc.
e a r n in g s .
end. Sept. 30—
1896................ $1,405,647 $640,041 $80,107 $614,121 $406,027 Louis A. Coquard or the appointment of a receiver for this
439,971
663,509
66,600
295,133
1,438,494
1 8 9 5 ...................
The following is the general balance sheet of September 30, company.—V. 62, p. 590.
New Fonndlund Ry. —Purchased by Colonial Government.
1896 (see balance sheet June 30 in V. 63, p. 501) :
A press despacch from St. Jottu’s, N. F., Dec. 2. savs that the
G E N E R A L BA LA N CE S H E E T SEPT. 3 0 , 18 9 6 .
Colonial Government has purchased for about $1,500,000 all
Liabilities—
C ostolroadand equip $25,753,883 Capital s to c k ............... $12,0">0,000 tbe rights of this ermpanv, inolu ting a twenty-two-year mail
Funded debt ............. 15,940,910 subsidy and $45,000 yearly allowance f.or rolling stock and
8toeks and bonds of
900,0 10 mineral lands owned. Tae transfer will take eff ct at the
other com panies—
1,008,181 Loans and bills pay’le.
225,490
Other Derm, lnvestm ’s 2,912,815 Iat. dne and accrued..
beginning of the new year, placing all the railway systems
Supplies on hand.........
128,929 Due for w ages and
su p p lies......................
457,683 of the colony under Government management. The c unpaoy
Dne from agents and
5 J2.7S8 was incorporated in 1881 to build from St. John’s to Harbour
open accounts____
830,153 Due on open aooouuts
786,755
201,695 Protit and loss, snrpl.
Cash on hand..............
Grace and Hails Bay, 340 miles, of which 96 miles has been
T o t a l...........................$30,833,656 constructed. Default was piade Jan. 1, 1885, on £4)0,000 of
T o ta l....... ................$30,833,656
—V. 63, p. 968.
1st mortgage 6s, and a receiver was appointed, by whom a
Los Angeles Ry.—Deal A b a n d o n e d . —The plan of a syndi­ small amount has been paid from time to time on account of
cate to purchase control of this property, it is reported, has coupons. The Receiver is Frank H. Evans, 43 Threadneedle
been abandoned, investigation showing that the proposed St., London, E. O.
outlay was not warranted, —V. 63, p. 403.
N>'W York Brooklyn & Manhattan Beach RR. —Long
Louisville & Nashville R 8 .—Bonds S o ld .— The company Island R R .— Refunding of Maturing Bonds. — Redmond,
has negotiated through Kuhn, L'leb & Co., Speyer & Co. and Kerr So Co. have bought the $500,000 5 per cent bonds of 1935
Vetmilye & C o. $3 258,000 of Louisville Cincinnati & Lexing­ of the New York Brooklyn So Manhattan B-“ach RR , which
ton Railway general mortgage gold bonds, interest reduced to are issued to retire a like amount of New York & Manhattan
4% per cent, which were a part ot its treasury assets. In the Beach bonds due Jan. 1, 1897 With ihe paymentof these listI n v e s t o r s ’ S u p p l e m e n t these bonds, which "mature Nov. 1, named bonds the 5s of 1935 become a first lien on ths entire
1931, appear as 6 per cents, this having been the rate of inter­ property. Holders of tbe bonds due Jan. 1 will be offered
the privilege of exchanging them for the new bonds at 105
est borne by them prior to the present sale.
Of the proceeds of these bonds $2,850,000 will be used to and interest.—V. 62, p. 909; V. 63, p. 968.
redeem a like amount of first mortgage bonds of the Louis­
New York & New Jersey Bridge—Contract Let. —Secre­
ville Cincinnati & Lexington Company, maturing January 1, tary Swan states that the New York & New Jersey Bridge
the balance being turned into the treasury. In return for the Construe ion Companies have made a contract with the
treasury holdings thus sold, an equal amount of unified Union Bridge Company of this city for the building of the
bonds, "to be issued in place of the maturing Louisville Cin­ bridge over the Hudson River at a cost not to exceed $25 000,cinnati & Lexington first mortgage bonds, go into the L >uis- 000, tbe Union Bridge Company agreeing to give a bond for
$1,000,000 for the faithful performance of the contract. The
ville & Nashville’s treasury.—V. 63, p. 794.
L o u is v il l e N ew A lb a u y & C h ic a g o B y — Plan. O p e ra tiv e .— company expects soon to offer its bonds.—V. 63, p. 154.
T h e plan of reorganization has been declare i effective, a large
Norfolk 4 Western By.—South Side R y. Bonds to be E x ­
majority of the several issues having been depo-d:ed. N nice tended.—The holders of consolidated mortgage tiird pre­
is given that the time to deposit bonds under the agreement ferred bonds of the Southside Radroad Cjmptny of Virginia,
and modification is extend-d to and including December 10th, maturing Jan. 1, 1897, have the op im uacil that date of
1896, without penalty. After December 10 ,n, 1896, and to extending the same until July 1, 1900, with interest at 5
and including December 31st, 1896, bonds will be received per cent per annum, principal and interest payable in
only on payment of $10 per bond,—V. 63, p. 968.
gold. Bonds not presented tor extension on or before Jan. 1,
Middletown Unionville & Water (Jap RR.—New fork 1897, will be purchased at par at maturity at the office of
Susquehanna & Western RR,.—Bonds to be Extended and Messrs. Brown Bros. & Co. in New York or Philadelphia.
Interest Guaranteed.—The second mortgage bonds du-Dec. For further particulars see the official advertisement on
1, 1896, on the Middletown Unionville & Water Gao RR are another page.—Y. 63, p. 968.
being extended on presentation at the company’s office, No. 26
North Chicago Street RR.—Bonds Sold.—This company
Cortlandt St,, to June 1st, 1910, with interest at the rate of 5 has sold $687,000 first mortgage 5s of 1886, making, it ib stated,
per cent per annum, If the extension is executed by a suf- $3,171,000 of that loan now outstanding.—V. 63, p. 652.
ficent amount of the bondholders, the payment of the couoons
Northeastern RR. of Georgia.—Tennessee Georgia &
will be guaranteed by the New York Susquehanna & Western Atlantic Ry.—A bill was introduced in tne Georgia Legislat­
RR. Co.—Y. 63, p. 402.
u re this week authorizing the sale of the Northeastern RR.,
Nashville Chattanooga & St. Louis Ry.—Proposed L°ase the minimum price being fixed at $287,000, the amount of
o f Paducah Tennessee & Alabama and lennessee Midland.— the State bonds issued on account of the road. The line was
At the meeting of the stockholders of the Nashville Cnatta- leased recently to the Tennessee Georgia & Atlantic Ry. Co.,
nooga & St. Louis, adjourned to Dec. 8. it is expected the pro­ of which Alonzo B. Cornell is President, with the option to
posed lease of the Paducah Tennessee & Alabama and Tenues purchase on terms to be fired by the General Assembly. It is
see Midland will come up for discussion. A prominent N. C. proposed to extend it north to Chattanooga, Tenn., and south
& St. L, stock bolder has organized an opposition to the pro­ to Augusta, Ga.—V. 63, p. 78, 716
posed lease, which the maj >rity interest say is based upon a
Northern Pacifle Ry.—Abstracts o f New Mortgages.—In
misconception of the facts in the case. The N. C. So St. L. Co. connection with the issue of tbe new securities, winch was
not being in a position financially strong enough to acquire begun on Monday, we publish upon subsequent pages of this
the properties outright, wnich otherwise would have gone to issue elaborate abstracts of both the prior lien 4 per cent
a rival and competing system, the Louisville & Nashville as mortgage and general lien 3 per cent mortgage. In our
the principal stockholder stepped in and used its ere lit to editorial columns, also, are discussed some of the main
secure the roads which properly belong to the territory of the features of the deeds.—V. 63. p, 969.
N. C. & St. L. It is now proposed to turn the properties over
Ogdensbnrg & Lake Champlain RR.—Time fo r Deposits
to the N. C. & St. L under a lease whereby that company
will be under no expense and will be relieved of a competitor. Extended.—Tne reorganization committee has extended the
President Thomas in a circular letter points out that the time for deposit of bonds to Jan. 1, 1897, with the same pen­
Paducah Tennessee & Alabama and the Tennessee Midland alty of % per cent.
Quarterly.—Earnings for quarter ending September 30 were :
lines for ten months show gross earninesof $413,023; net earn­
3 m onths
Oross
Net
Other
Interest, Balance,
ings, $161,718; taxes and rentals, $147,333; surplus; $14,384, end.
30—
earnings. ea rnings, incom e, taxes etc. su rp lu s.
besides having addsd to the main line a revenue of $185,185 1 8 0 6Sept.
......................... $224,343
$66,065
$987
$64,714
$2,338
on business interchanged.
1895 ........................ 222,857
84,034
1,636
67,540
18,130
Attention is also called to the fact that the Western & At­
Loans and bills payable Sept. 30, 1896, $35,000; interest on
lantic RR, at a rental of $4,000 a mile pays a handsome in­ funded debt due and accrued was $225,807. There was $264,come to the Chattanooga Co. It is believed that the Paducah 564 due on open accounts, wages, etc , but against this $411,839
Tennessee So Alabama and Tennessee Midland roads at a rental was receivable from companies and individuals.—V. 83,p. 923.
of about $600 a mile would not only be self-sustaining and
O h io S o u t h e r n R R .— Coupons D u e Dec. 1 N o t P a id .—
add materially to the revenue of the N. C, & St. L., but will
yield a profit greater than that already shown, which was Coupons due Dec. Ion the first mortgage 6 s were not paid,
during a period of general business depression.—V. 63, p. 794. the default being attributed in part to a ^oal strike. The
coupons due June 1 were paid in September, as stated in the
Nassau Electric BB. (Broakiyn, N. Y.)—Quarterly.— table in the I n v e s t o r s ’ S u p p l e m e n t , page 107.—V. 63, p. 923.
Earnings for the quarter ending Sept. 30, 1896, have been re­
Oregon Improvement—L is t in g o f M a n h a tta n T r u s t Co.
ported as follows. The lines of the Atlantic Avenue RR., in­
cluding Brooklyn Bath & West End, were leased in April, B eceipts. —The Manhattan Trust Co. receip s for the second
morigage bonds and stock were listed this week on the New
1896, and their results are included below ;
3 m onths
Oross
Net
Other
Interest, B alance, York Stock Exchange, and the certificates for the first mort­
t o “ • “ep*.130 “
earnings, earnings, income, taxes, etc. surplus. gage bonds will be listed next Wednesday at the regular
lB 9 6 ........................... $551,170 $242,088 $18,6,56 $177,868 $82,876 meeting of the Committee. Tne Waterbury Committee have
For the corresponding three months of 1895 the Atlantic now deposited a majority of each class of security. Further
Avenue RR earned, gross. $243,176; the B. B. & West End, deposits may be made up to Dec. 15.—V. 63, p. 969,
^ross, $73,259; and from July 28 (opening day) to Sept. 30,
O re g o n S h o r t L in e & U ta h N o r t h e r n R y .— Foreclosure
1895, 2 months, the original Nassau Electric lines earned, Sale Set for J a n . 9.—At Salt Lake City, Utah, Dec. 1, in th e

THE CHRONICLE.

D ecember 5. 1896.]

Federal C-urt. Judge Sanborn entered decrees of foreclosure
undrr the Utah Southern General and UcahBoutbern Extension
ui< rtgages and the Oregon Snort Line & Utah Northern con­
solidated mortgage of 1889. The sale will take place Jan. 9,
1897. at Salt Lake City. The Reorganization Committee will
purchase th- property subj"Ct to the mortgages of the Oregoa
Short Line first 6s of 1882, the U ah & Northern sevens and
the consol, fives, which by the plan are undisturbed. The
bonds issued under all other prior liens are owned by the
Committee.—V. 63, p. 881.
Pennsylvania RR.—Delaware River RR. k Bridge —
Newport k Cincinnati Bridge.—Sale o f Bridge Bonds. —The

Pennsylvania RR. Co. has sold to Messrs. Speyer & Co.
$ I SbO.oOO Delaware River RR. & Bridge bonds. This i-> the
whole of the authorized issuj. The bonds run to Aug. 1.1936,
carrv 4 p.c,,and areguaranteed by the Pennsylvania RR Co.
Mtsasrs Speyer & Co. have also purchased 81,490,090 Newport
<£ Cin. Bridge 4' j per cent bonds guaranteed by the Penn­
sylvania Company. The authorized issue is $1,500,000.—

1011

menced immediately. The road will run from a ooint at or
west of Olaremore, I. T., to Shawnee, Okla.—V. 63, p. 689.
St. Lmis Fandali* k Terre Haute R i , —Bonds Being
Purchased.—The first mortgage 7 per cant bonds, maturing
Jan. 1, 1897. are being purchased at par and interest on
presentation at the office of the Pennsylvania Railroad Co. in
Philadelphia.—Y. 63, p. 924.
Sandusky Mansfield * Newark RR.—Baltimore & Ohio
RR-—Coupon to be Paid.—The C h r o n ic l e is officially in­
formed that the Sandusky Mansfield & Newark first mort­
gage coupons due July 1, 1896, will be paid on Dec. 10, with
interest from July 1, at the Union Trust Co . New York City.
Each coupon will receive $35-88.—V. 63, p. 30, 967.
Savannah Electric Railway.—Foreclosure Sale Jan. 5,
1897.—This property is advertised for sale on Jan. 5 next at
Savannah, Ga.—Y. 63, p. 267.
Seattle Consolidated Street Ry.—Sold in Foreclosure,—
This property was sold u :der foreclosure on Dec. 1 for $139,601.- V 63, p. 230.
Soutli-ru R lilway.—First Dividend.—A dividend of 1 per
cent out of accumulated earuiags h is been declared on the
preferred s ock of the company, payable January 4, 1897.
The dividend is declared not as an annual dividend but as a
distribution to the preferred stockholders of a portion of the
surplus earned in the last two fiscal years. We are informed
that it is not the purpose of the board at thi. time to con­
sider the policy of future dividends. These will depend upon
the results of the operation of the property and the general
financial condition surrounding it. Tne present dividend
would have been declared at ths clos9 of the last fiscal year
but for the political and financial conditions then existing
and the consequent necessity for conservatism at that time.—
V. 63, p. 65 k.
Terre Hiute k Indianapolis UR.—Official Statem ent as
to Receivership. —President James McCrea has made substan­
tially the following statement:

V. 63, p 153, 753.
Pennsylvania RR.—Philadelphia <fc Reading Ry.—Old,
S u it Revived —The Pennsylvania RR. Co. has filed a bill in
equi y i i tne Philadelphia C <mm m Pleas Court against the
Reading Railr ad and Coal & Iron companies, together with
the new Poiladelphia & Reading, the National Company, and
others, to recover damages for the non performance of the
contract of Jun \ 1887. under which the Reading Company
was to deliver annu div 1,00 >.000 tons of coal to the Pennsyl
vania Railroal.—V'. 63, p. 753, 969.
Pennsylvania RR.—PHtsb irg Cincinnati Chicago & St.
Lon Is Ry.—Sale o f $3,000,000 B o n d s—Th“ Pennsylvania
RR. Co. has nego'iated the sale of $ 1,000,000 Series D 4 per
cent bonds of the Pittsburg Ctnn. Chicago & St. Lmis Rv. to
Messrs. Speyer & Co and Kuhn. Loeb & Co. Th^-se bonds
are the balance of the $6,000,000 issued Nov., 1895, for the
purpose of exchanging for the Series C 4*^s, for additions to
property and for the retirement of prior lien sectional bonds
Ttie Pennsylvania Interests in 1893 purchased a large block (not
maturing in 1895. There is no increase in iotereet charge.
of the capital stock ot the Terre Haute & Indianapolis RS. Oo.
Full particulars regarding ihe is-ue of Series D were in the hall)
No change was made in the m anagement until January, 1396. when,
Can >SlOLC Dec. 28, 1895. p. 1155 —V. 62, p. 910; V. 63, p. 752. upon the voluntary e irem snt of P evident 'IcKeeu a id Vice-Presi­

Pennsylvania Traction (Lancaster, Pa.) —Receiver Ap

point #1 —At Philadelphia, Nov. 30, Judge Dallas, in tne
Unites! Stales Circuit Court, appointed William B. Given, of
Columbia, Pa., receiver of this company. It is understood
the pr sveding* were instituted with a view to reorganiza­
tion.—V. 63, p. 969.
Philadelphia A Reading Ry.—E arning* —The results of
opera ions of the Railroad and of the Coal & Iron Company
for October and the first eleven months of the fiscal year
hare been as follows :
— - -October.--------. — Per. 1 to Oct 31.—
1896.
1895.
189>-98. 1891-95.
RlMOtOtO C o v r u r #
*
*
*
<»ro«. receipt*............. ...2.06 UOfl 2,271,260 18,718.956 19.292,988
Operating expense*.......... 937,398 1,060,776 10,146,580 10,676,915
Operating profit..........1.122,708 1,213,484 8,272,376 8,605,973
Met from other source* . . .

46,150

28,172

» 4 0 ,2 l4

512,306

Total............................ 1,168,858 1,241,656 8,912,590 9,118,279
Dsttuet—

Cnalotnent paym ent*...— 101,625
Terminal tra c k a g e ............
40.0X1
Improvement*. Me.............
50,959
Propori’u year's charge*.. 693,000

102,034 1,482,449
914,519
37,332
440.000
416,152
6,121
213, >16
99,321
694,275 7,645,000 7,637,019

T otal..................
887,534
840,612 9,781,365 9,067,511
Balanee......................... „*nr.231,274 sr.401,044 det.863,775 sur.50,768

Coal,

axu

Isos Co.—

Or o x receipt* ................... 2,767.«52 3,350,688 21,153.043 21,586.576
Operating expense*......... 2,143,595 3,251.096 20.398.778 21,713,998
Colliery Improvement* . . . 66,329
53,973
721,341
478,790
Perm anent improvement*
1,112
5,096
3 9 ,8 '8
47,130
Oro** expenses...................2.506,016 3,310,165 21,139,937 22,21 ',518
Balenee from m ining___ *r.261..918 snr.40,521
<11.6,394 df.653,942
P r o p o r f n y e a r-e o h a rg e * ..

B a la n c e ......... ........

9 5 ,0 0 9

........* r .l6 0 ,8 l6

9 5 ,0 0 0

1 ,0 4 5 ,0 0 0

1 ,1 0 0 ,0 0

d f.6 4 ,l7 9 d -l,0 5 1 ,3946.1,753,942

P. A R RR. a.TO C. A I. Co.—
B alanceolrailroad C o.... sr. 281.274 «r. 401,04 4 <11.868,77.5 sur.50.763
Bal. of C. A I. Co.............. sr.lt.6.816 61.51,47tfdn.051, 3946.1,753,942
B*l. of both g o ’s ........... sr.143.090 sr.346,5656.1.920,639<1.1,703,174

* I unlades £520,000 oar trust oertlflc ite* matured In 1394 and 1395,

not properly chargeable to 1898.—V. 63. p. 919.

P hiladelphia k He id mg Ky.—Mlnehll! k Schuylkill
nay en RR.—Reduction o f Rental Accepted. -The share­
holders of the Minebill & Schuylkill Haven RR. on Nov. 27
voted almost unanimously to accepted the reduced rental
tendered by the new Reading management, the rate, hereto­
fore 8 per cent, being (5 per cent after Dec. 1.—V. 63, p. 969.
St. Lottig Kansas k Southwestern R y.—Receiver A p ­
pointed.—At Topeka, Nov. 38, upon application of the Farm­
er*' Loan & Tru-st Co., United States District Judge Foster
appointed Dwight Braman Receiver for this rond, a line
sixty mil-** in length, running from Arkansas City to An­
thony, Kan. The road was operated by the St. Louis & ban
FraocUn t RR Co. under a temporary arrangement up to
six we>-ki ago, w hjn it was abandoned. The Farmers' Loan
Sc Trust Oo.’i* trustee under the mortgage, securing $390,'100
bonds upon which interest is in default. Mr. Braman, it is
undersold, ha. leased the necessary equipment and will
have the road put in operation.
St. Loni.3 Oklahoma A Southern Ky.—Contract L et—The
contract for building this road has been given to Messrs. Cal­
lahan A Wogan, of Omaha, and work it is said wilt be com­

dent WiilWm*. I w aseleoted President. The situ ition that developed
was as follows:
Elret—The revenues ot the leased lines were not sudioieat to m ost
the ob lvattonB of the leases.
S oou id —Notwithstanding the company ceased paying dividends in
1394. its revenues were not sufflolent to m eet the defloieuoies of the
various leased 11a s.
Third -T ti-re wa* a floating debt of several hundred thousand dollars
and a necessity forgulte a large expenditure to pUoe the main line in a
condition to meet th ■active competition to which it is subjected. This
condition was consequent upon the struggle to keep up tne various
lease obligations.
The management deoided th at the only honest course to pursue was
to set aside as separate funds the uet earnings of ea <h leased line and
aoply them to ihe payment of taxes, interest and oth< e charges, using
tbc ne- earnings of the t'erre H aute A Indianapolis in tha same m tuner,
and app ying any surplus either to a reduotou of its floating debt or
supplem enting th ■ ahove-iiesoribed funds as ihe case m ight seeun to
justify. As a result of thl* poiloy a default la Interest oooarred io
these bonds of the leased lines and the bondholders of the Terre
Haute A Peoria Go. peti'ioned for a receiver.
in view of the faot that the Terre Haute A Peoria road was not eam ■ng i s charges, it wonU1 he unjust to make that oumpanv a preferred
oredllor, and as the Terre Haute A Indianapolis company was unable
to m eet its various lia1tittles, there seemed but one honest oourse
to pursue, vis , to prevent preference of one creditor over another, and
therefore ih -y offered no ottjootion to the petition to put the property
in the hands of th* Court. The appointm ent of Mr. Malott as receiver
was gladly accepted.
in reg ird to the position of the Pennsylvania Oomoany there is
nothin v hidden aboutit. They a resim ily the larg at Individual owners
of ho stook of the Terre Haute A Indianapolis Company and in no
way, either directly or indirectly, the guarantors ot its obligations,
only the most interested party, from the amount of their holding,
In preserving the integrity of its stock.—V. 63, p. 924.

Union Pacific Ry.—Paym ent o f Equipment Trust Bonds
and Coupons —The following equipment trust binds and

coupons are being paid on presentation at the Uaion Trust
Company. New York City, or at the office of the Treasurer,
92 Ames Building, Boston, Mass.:
Equipment trust 5s, Series A . due Oct. 1, 1896, with inter­
est, siuce maturity, in all $1,008 61 per bond.
Coupons due Oct. 1, 1896, fro n Series A and B, with inter­
est thereon, in all $25 22 per coupon.
Committee for 0 Per Cent Collateral Trust Notes— At the
request of a large proportion of the holders of the Union Pa­
cific Ry. Co. 6 per cent collateral trust notes, John G Moore,
James W. Alexander and Edwin F. Atkins have undertaken
to act as a committee for the purpose of devising a plan and
formulating an agreement of reorganizition, copies of which
can be obtained at the office of the Mercantile Trust Co. on
Deo. 14. On and after that date the Trust Company will re­
ceive deposits of the notes subject to the terms of the plan
and agreement, and will issue its temporary receipts there­
for, exchangeable in due time for engraved receipts to be
isted on the Stock Exchange.—V. 63, p. 924.
United States Rubber—Dividend on Preferred.—The board
of directors of the United States Rubber Company at the
meeting yester iav afternoon declared the regular semi-an­
nual dividend of four per cent on the preferred stook, pay­
able January 15, 1897.
In regard to the common stock dividend, Treasurer Charles
R Flint said: “ The question of the common stock dividend
was discussed at the meeting, but on account of some of the
largest stockholders who are directors not being present
final action on the matter was deferred until December 23,
when a full board of directors is expected to be present.”—
V. 63, p, 811,

THE CHRONICLE,

1012

Reports aml JJocumeuts.
N O R T H E R N P A C I F I C R A I LWAY C O M P A N Y .
ABSTRACT OF PRIOR LIEN MORTGAGE,
DATED NOVEMBER 10, 1896,
SECURING $130,000,000 OF 4 PER CENT GOLD
BONDS, DUE JANUARY 1, 1997.
PARTIES.

N orthern P acific Railway Company, of Wisconsin,

hereinafter called the “ Railway Company,” party of the
first part, and The Mercantile Trust Company, of New
York, the “ Trustee,” party of the second part.
PREAMBLE.

W hereas, all the railroad, franchises, land grant, stock

and bonds of other companies and other property belonging
to the Northern Pacific Railroad Company were sold, pursu­
ant to order of court [under foreclosure of its general sec­
ond, general third and consolidated mortgages.—Eds.], to
the Railway Company, party of the first part hereto.
PRIOR MORTGAGES.

[V

ol.

L X II1 .

1 on of the State of New York, as Trustee, of all the property and
franchises of the Railway Company m entioned in said m ortgage or
deed of trust, to which reference is hereby made for a description of
tlie property and franchises m ortgaged and the nat ire and exten t of
the security, and the rights of the holders of said bonds, under the
same, and the ton u s and conditions on which said bonds are issued
and secured.
This bond m ay he registered as to principal iu the owner's namo on
the books of the Railway Company at its olliee or agency in the City
of New York, such registry being noted on the b m il by the Company’s
transfer agent, after which no transfer shall be valid unless m ade on
the Company's hooks by the registered owimr ami sim ilarly noted on
the b o n d ; hut the sam e may he discharged from registry by being
transferred to bearer, after which transferability by delivery shall be
restored; but it m ay again from tim e to tim e he registered or trans­
ferred to hearer as before; such registration, how ever, shall not affect
the. negotiability of the coupons by delivery m erely This bond is also
exchangeable for registered bonds without coupons, as provided in
said m ortgage or deed of trust.
This b nd shall not becom e obi gatory for auy purpose until it shall
have been authenticated by the cortifloat ■, Uereou endorsed, of the
Trustee under said m ortgage or deed of trust.
I n w i t n e s s w h e r e o f , the Northern Pacific Railway Company h a s
caused these presents to be signed by its President or one of its VicePresidents, and its corporate seal to he hereunto affixol, and to be
attested by its Secretary or an A ssistant Secretary, and coupons for
said in terest m aturing up to January 1st, 1947, with the engraved
signature of its Treasurer, to be attached hereunto th is tenth day of
Novem ber, 1896.
N o r t h e r n P a c if ic R a il w a y C o m p a n y ,

By

President.

A tte s t:

Secretary.
A nd whereas, the railroad and land grants so acquired
are subject to prior mortgages the amounts of which [exclud­
FO R M O F R E G IS T E R E D BO N D S.
ing all bonds called in for redemption for the sinking fund,
The registered bonds are in substantially the sam e form as the
coupon bonds, but carry no coupons They are payable, both principal
but not actually redeemed], are as follows:

A m ount
and interest, only to the registered holder and are exchangeable only
N a m e o f Loan—
o u tsta n d in g . for other registered bonds, as hereinafter more fully stated.
Northern'Faeiilc RR. Missouri Division bonds of 1879— $1,776,000 NEW SHEET OF COUPONS TO BE ANNEXED AFTER JA N U ­
General First M ortgage Bonds of 1881............................... 16,142,000
ARY 1, 1947.
[These la st being in addition to bonds deposited under the
reorganization plan and pledged w ith the Trustee here­
There shall be annexed to the said coupon bonds at the
under to th e am ount o f.............................................................
24^ 90,000] time of the issue thereof the coupons representing the quar­
A nd whereas, the railway and property of the St. Paul & terly interest instalments which may become due thereon to

Northern Pacific Railway Co. have been conveyed or forth­ and including the first day of January, 1947, and similar
with will be conveyed to the Railway Company [they have coupons shall be subsequently annexed representing the
been so conveyed—Eds.] subject to the following loans:
quarterly interest instalments of later maturity, each of
N a m e o f L oan.
O utstanding. which coupons shall be substantially of the following tenor :

W estern Railroad 1st M ortgage....................
$420,000
St. Paul & Northern Paciflo bonds of 1883...................................8,003,000
DESCRIPTION OF NEW BONDS.
A nd whereas, the Directors and Stockholders of the

Railway Company have duly authorized this issue of bonds
to be called “ Prior Lien Railway and Land Grant Gold
Bonds,” the aggregate amount of which at any time out­
standing shall not exceed $130,000,000, the principal
of such bonds to be payable in gold coin of
the United States of America, of the present
standard of weight and fineness, at the office or
agency of this Company in the City of New York, on the
first day of January, 1997, with interest thereon from the
first day of January, 1897, at the rate of 4 per cent per
annum, payable in like gold coin, quarterly, at the said office
or agency on the first days of January, April, July and
October in each year. Both the principal and interest of
said bonds shall be payable without deduction for any tax
or taxes imposed by the United States, or any State or
Municipality thereof, which this Company may be required
to pay or retain therefrom under any present or future law.
The coupon bonds shall be of the denomination of $500,
numbered consecutively from D1 upwards, and of $1,000,
numbered consecutively from Ml upwards. The registered
bonds shall be of the denomination of $100 and such multi­
ples of $100 as the Railway Company may prescribe by reso­
lution of the Board of Directors, every such bond to bear a
distinctive number or designation. All bonds shall be exe­
cuted on behalf of the Railway Company and under its cor­
porate seal by the President, or any Vice-President, and the
Secretary, or any Assistant Secretary, of the Railway Com­
pany, and shall be substantially of the following tenor,
to-wit:

FO RM O F IN T E R E S T C O U rO N , O F W H IC H T IIE F IR S T IS TO B E P A Y A B L E
A P R IL 1 , 1 8 9 7 .

No.
$
On the first day of
,
, Northern Pacific R ailw ay
Company w ill pay to bearer at its office or agency in the City of Now
York, N. Y.,
dollars gold com , w ithout deduction for
taxes, being three m onths’ in terest then due on its Prior Lien Kailway
and Land Grant Gold Bond No.
Treasurer.
FO R M O F T R U S T E E ’S C E R T IF IC A T E .

This bond is one of the series of Prior Lien Railway and Land Grant
Gold Bonds described in the w ithin-m entioned M ortgage or deed of
Trust executed by the Northern Paciflo R ailw ay Company to th e f
undersigned.
T h e M e r c a n t il e T r u s t C o m p a n y ,

Trustee.
By
PROPERTY" CONVEYED AS SECURITY.
A ll and singular the following railroads, estates, lands,

properties, rights, privileges and franchises, and bonds and
shares of capital stock, viz.:
M A IN L IN E , E T C ., C O N V EY E D .

L in e s o f R oad—
\ Miles.
The lin e of railroad exten d ing from a point on the bay of Supe­
rior, Wis.. to a point of junction w ith the line of railw ay n ext
hereinafter described, at th e boundary lin e betw een the States
of Wisconsin and M innesota...............................................................
7%
Tlie railroad and telegraph lin es exten d ing from Ashland, Wis­
consin, to Wallula and Tacoma, in the State of W ashington,
and Portland, .In the State of O r eg o n ............................................. 2,157
t Supplied, n ot in the m ortgage. [E d s .]
LAND GRANT CONVEYED.

All the lands granted by Congress to aid in the construc­
tion and equipment of said railroad, being 25,600 acres of
land per mile of said railroad through Territories and 12,800
F O R M O F CO U PO N BO ND S F O R $ 5 0 0 AND $ 1 , 0 0 0 .
acres per mile through States, at the date of such grant,
No
being the States of Wisconsin, Minnesota and Oregon, and
U n it e d S t a t e s o f A m e r ic a .
the Territories (now States) of North Dakota, Montana, Idaho
N O R T H E R N P A C IF IC R A I L W A Y CO M PAN Y.
and Washington, with the appurtenances thereto belonging,
P r io r L ie n R a il w a y a n d L a n d G r a n t G o l d B o n d .
and all title which the Railway Company now has or may
K n o w a l l M e n b y t h e s e P r e s e n t s , T h a t N o r t h e r n P a c if ic
hereafter acquire therein. Also all indemnity lands that
R a i l w a i C o m p a n y , a corporation, hereinafter called the “ Railway
Company,” for value received, promises to pay to the bearer, or, may be acquired to supply deficiencies in the quantities of
If registered, to the registered holder of this bond,
said granted lands in accordance with the provisions of said
Dollars, gold coin of the United States of Am erica of the present grants', also all contracts of sale in respect of the lands.
etandaid of weight and fineness, on the first day of January, in the
year 1997, at the oflice or agency of the Railway Company In the City [The lands so conveyed embrace at the present time about
ol N ew York, X. Y„ and to pay interest thereon, at the rate of four per 30,700,000 acres west of Missouri River, of which about half
cen tlp er annum from January 1, 1897, payable quarterly at said is surveyed and patented. The lands east of Missouri River
oflice or agency, m like gold coin, on the first days of January, April, (about 3,700,000 acres additional) were not under the old
July and O ciolierin each year, hut only upon piesentation a"nd sur­
render, as they severally mature, of the coupons therefor annexed and mortgages, but steps are in progress to acquire them, or the
to lie annexed hereto. Upon presentation of th is bond on or after bulk of them, and to subject them to the new mortgages.
January le t , 1947, the Railw ay Company w ill attach thereto sheets of
coupons representing the in tc ie st instalm ents to become due after An official statement of Aug. 1, 1896, regarding the lands
patented and unpatented in the several States was in the
that date, proper endorse m ent thereof being m ade on this bond.
Both the principal and Interest of this Bond are pay able without C h r o n ic l e of Oct. 31,1896, p. 794.—E d s .]
deduction for ary 1nx or taxes of the United States or any Stale or
Municipality then of, which the Railway Company may he required to
pay, or to retain therefrom, under any present or future law'.
This Loud Is one of a series of coupon and registered bonds of
the Railway Company, known as "Prior Lien Railway and
Land Grant Gold Ronds,” duly authorized and approved by
the Board of Directors and Stockholders of the Railway Company
and issued and to he issui d, to an amount not exceeding in the aggre­
gate $3 30,COO,COO at any one time outstanding; all o f which bonds
are issued under and in pursuance of, and are equally secured by a
mortgage or de<d of trust dated November 10th, 1896, executed by
the Railw ay Company to The Mercantile Trust Company, a coipora-

ALL INTEREST IN CERTAIN OTHER PROPERTY.
all interest in the undivided one-half of all

that
part of the St. Paul & Duluth RR. which extends, or at one
time extended, from near Thompson, in County of Carlton,
to Duluth, in the State of Minnesota, with the appurte­
nances thereto belonging : and also all the real estate situ­
ated in the City of St. Paul and in the City of Duluth.
A lso all interest now held or hereafter acquired in the
Washington Short Line RR.
A lso

I HE

D ecember 5, 1896. J

< HRONICLK
B ra n c h L ines, etc.
N a m e o f t'o m p a n y a n d i(s road —

ST. P A U L A N O R T H E R N P A C I F I C R Y . C O N V E Y E D .

A lso a l l t i t l e a n d i n t e r e s t of every name and nature
now held or hereafter acquired in the railroad, lant grant,
and other property, of the St. Paul & Northern Pacific Ry.
Co., the said railroad extending from:
1M ila .
B r a i n e d . M in n ., v ia S a u k R a p id s a n d M in n e a p . t o S t P a u l , M i n n . . .1 4 7
B r a n d i , L i t t l e F a l l a t o S t a p l e s , M i n n .................................................................... 3 1

♦S u p p l i e d , not in mortgage.—Eos.
PRO PERTY

HEREA FTER
A C Q U IR E D
W IT H
TH ESE
BO ND S.

PROCEEDS

OF

lines of railway, terminal properties, rolling
stock, or other property, and all bonds and stocks, which,
from time to time, in the manner provided in Section 4 of
Article One or in Section 3 of Article Eight hereof, shall be
designated in the verified certificates to be furnished by the
Railway Company to the Trustee with respect to the prop­
erty hereafter acquired.
A lso

a l l

1013
M iles.

--------- B o n 1 Issue. ----------*

Total.

P ledjed.

R o c k v F o r k & C o o k e C ity R y .—
L a u r e l t o R e d L o d g e , M o n t ..................... 45
N one.
D u l u t h U n io n D e p o t & T r a n s f e r C o .............
$8< 0,000
M in n e s o t a T r a n s f e r R a ilw a y C o . . . . .............
806,000
8 t . P a u l U n io n D e p o t C o ............................... M
N one.
W in n e p e g I 'r a n s f e r R y . C o .; L i m i t e d . . . 1*4
N one.
N o r t h e r n P a c ific C o a l C o .............................................
N one.
N o r t h e r n P a c if ic E x p r e s s C o ....................................
N one.

N one.
.............
..............
.............
..............

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

Stocks
Pledoed.
+$2,000,000
150.000
7.000
50,000
50,000
100,000
+343,000

T o t a l b r a n c h lin e s , e t c ..................... 1,088% $41,957,784 $10.267,734 $52,480,807
• A f t e r d e d u c ti n g a m o u n t h e ld b y t h e s in k i n g f u n d , t h e t o t a l a m o u n t s s o
h e l d f o r a ll t h e i s s u e s m a r k e d w i t h a n a s t e r i s k (*) b e in g $9 -4,266. + T h i s is t h e
t o t a l is s u e , t T o t a l is s u e is $400,u00. T T o t a l i s s u e is $1,463,357.

Subject as to certain portions of the property hereby mort­
gaged and conveyed to the hereinbefore recited mortgages
of said Northern Pacific Railroad Co., said Western Railroad
Co. and said St. Paul & Northern Pacific Railway Co.
A L L B O N D S O F T H IS IS S U E T O B E E Q U A L L Y S E C U R E D .

But in trust, nevertheless, for the equal security of all pres­
ent and future holders of the bonds to be issued under this
indenture without preference, priority or distinction as to
A L L r o l l in g s t o c k , e q u ip m e n t , f r a n c h is e s , e t c .
lien or otherwise of any one bond over any other bond by
I n c l u d i n g all roadbed, rights of way, tracks, bridges, reason of priority in the issue or negotiation thereof.
stations, shops, etc., appertaining to any line of railway at
ARTICLE ONE.
T O T A L I S S U E L I M I T E D T O $ 1 3 0 ,0 0 0 ,0 0 0 .
any time subject to the lien of this indenture. Also all
lands designed for depots, warehouses or other structures at
S ection 1. All bonds to be secured hereby shall, from tim e
any terminus on such lines of railway ; and all locomotives, to time, be executed as provided in this Article, and not
engines cars and other rolling stock, equipment, and other otherwise. The aggregate amount of the bonds outstanding
property, real and personal, of every description, now or at any one time shall never exceed $130,000,000.
hereafter held therefor; and all leases and agreements and S E C U R I T I E S P L E D O E D T O B E T R A N S F E R R E D T O T R U S T E E .
all corporate rights and franchises which the Railway Com­
The bonds and certificates for the shares specifically enu­
pany now has, or hereafter shall acquire, for the operation merated in the granting clauses hereof, as transferred to the
of such lines of railway, and all income from the pr perty. Trustee hereunder, shall, prior to the certification of any
bonds hereunder, be pledged with the Trustee under this
PR O PER TY NOT CONVEYED.
I n c l u d i n g all railway property (but not including the indenture: excepting, however, the following, which shall
bonds, stocks, choses in action, cash, and other personal respectively be delivered and pledged with the Trustee when
property, except as herein specifically mentioned) which and as released from the respective pledges under which they
are now severally held [^[Since delivered—Eds.]:
has been sold to the Railway Company under said decrees.
R IG H T T O

A C Q U IR E

PROPERTY

FREE

FROM

L IE N

HEREOF

B on d s—

N o r. P a c . A M a n it.T e r m .

A m o u n t.
$ 1 0 0 ,0 0 0

S to ck s—

A m o u n t,

N o r. P a c if ic E x p . C o . ..

$ 1 0 0 ,0 0 0

i o n ! > e p o t&
P<ovidcd, hnuxcer, that nothing in this indenture shall D u l u t h A M a n i t o b a R R . 2 ,9 o O ,u O O D Tu lrua tnhs f Ue rn......................
1 5 0 ,0 0 0
u se RK .
limit the right of the Railway Company, hereby expressly S p(oWk aa snhe. AD Pi va.l)o....................
7 ,0 0 0
1 ,7 3 3 ,0 0 0 M in n e s o ta T r a n s f e r R y .
reserved, bv the use of its credit or in any manner except by
S
t
.
P
a
u
l
U
n
i
o
n
D
e
p
o
t
.
.
5 0 ,0 0 0
S lo c k s —
the use of the bonds reserved under Section 4 of Article One S p o k a n e A P a l o u s e R y .1 I 1 , 0 0 0 , 0 0 0 N o r . P a c i l l c C o a l C o ___ 1 0 0 , 0 0 0
of this indenture, o r of the C a s h f u n d established under B O N D S F O R $ 7 3 , 8 1 0 , 5 0 0 I S S U A B L E F O R T H W I T H T O T H E R E ­
O R G A N IZ A T IO N M A N A G E R S .
Section 3 of Article Eight of this indenture for improvement
S e c . 2. Of the bonds authorized, $73,816,500 shall be deliv­
p u r p o s e s , to construct or acquire other lines of railway,
branches, or extensions, or interests therein, free from the ered forthwith to the firm of J. P. Morgan & Co., the Reor­
ganization Managers.
lien of this indenture.
BONDS

STO CK S AND BONDS PLE D G E D .

FO R

$ 3 1 ,1 8 3 ,5 0 0
R E S E R V E D TO R E T IR E
O U T S T A N D IN G O L D B O N D S .

$ 2 6 ,3 4 1 ,0 0 0

Also the following bonds covering the main line. [The
S ec. 3. Of the remainder authorized $31,183,500 shall be
amount o f this loan is being constantly reduced by the reserved for the purpose of providing for The acquisition or
sinking fu n d .—Ed s .]
for the redemption, as hereinafter provided, of the following
Btnub C o-rT tnt) Main Low
M at In u t
P l tA j- J F tsre u n d tr.
bonds (hereinafter called “outstanding old bonds,”) viz.:
N o r t h e r n P n o tS e H R . H e n . F i r s t M o rt. Os ...1 * 0 ,7 8 1 ,0 0 0

|2 * .5 » 0 .0 0 0

Also the following bonds and the following shares of stock,
[these last are the entire issue in every case where a dagger
<f> precedes the amount. The amount of the total issue of
bonds in each case, and also the line of road owned, which
are not in the mortgage, are supplied to make the facts
clea r .—Ed s .]
Mile*.

( V i n p in v t n d it* ro a d

U M a Fait* %PifcaU KK

^

L ittle F-.ll* M an., to Morrt*. M inn. 80
Nor. P m ft'area* St Black H IlU R R .—
W vl«Q 4 J>'.. Mlno . to MUtior, X . D. 117
D uluth C rooluton ft N orthern HH,—
44
F ertile. Minn , to O irtftM t, Minn
Fargo * 8oath w e*tern R R.—
ft'aripi Jc . V D - to La Moure. N. D ,
Nor Pac La M oore A Mo Rlv R R La M o a r o to E 'lgeiey, N. I)
■■ 31
Sanborn Cooyrr^t n Jt Turtle Mt. R R.—
Sanborn to Coopermtown, N. D ...........3*
Jam**towr» 4 N orthern RR*—
. .
Jam eet'o to M inn*w eek.. N. D.Jk br.103
Ja m estow n
N orth’n ft.xten* o RR.—
M lnnew «ak«n to Lee»1r. S . U ........ .
18
0<vathe*i*t*ra D akota RR.—
15
Fairrtew to Bayne. N. Jl ..................
Nor Pacific ft M anitoba R y .Lln*« In Manitoba. Can., l*t mort. 264

.ft

T e rm in a l b o o d t.

..........

P ledged.

Stock*
P ledged.

’$1,677,428

$1,577,429

$$1,460,207

•3.102.701

2,102,701

+15,000,000

880.000

889,000

+5,000,000

•1,500,308

1,569,398

+4.000,000

------ B on d J m u*.-

H r it 1*4. K L in**, etc.

,V4 > v

T otal.

318,000

318,000

t3 l8 ,0 0 0

•065.750

665,760

♦300,000

•1,843,010

1,843,916

+3,200.000

270,000

270.000

1 1,600.000

133.000

133,00»

5,260,000
75 0 ,'KW

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

Rocky Mt. RR o f M on tan a•942.C41
L ivingston to Clnnibar. M ont.......... 53
N ortb ’o Pacific * M ontana R R .—
Clough Jc. to Marysv'e Mont.13 M
JlffW ioQ to Calvin. Mont . .30
(K!a«oala to 'iran tsd alo............*1
Drummond to R a m se y .......... 32
8.843,000
354
Logan t o B u tte ................................71
M p p ln gton to Norria ........... •»•**
Hhrrlaon to Pony ..................... 7
B oulder to E lkhom ................
Dearalt to 8t. R**rl* Pass
108
H e len a % JefVerrm C ounty R R.—
•360,509
Prtekley Pear I'ct’n to w lck ea. M ont. 21
Bp diana ft’ad* ft Idaho R R .—
370.000
Hatiaer Ju nction to C«eurd'Alene, Id. 14
Bp- »fcane ft Palouee B y.—
1,218.000
62
M aho D ivision ............ ......................
1,700.000
W a shin gton D lvtson ... -................. .
G reen Rire-- St N orthern RR —
376,000
Fu lm er to '•(blocks and K langley, W n. 1*
N orthern Pacific A Quoad* RR.—
388.000
C ascade t*i Carbooad *. W a s h .. ......... n
Nor. P ac • P u get «ou nd Shore R R.—
1,383,000
Meeker to n ear S eattle . ...................... **
Unite*! RR*. o f W a sh in g to n 6,208,000
Sundry lin es in W ashington ................182
C leal urn R ailroad—
.
.
08,000
Clealum to R oslyn Mine*. W a sh .. . . . . 5
DaJnth A Manitoba HR. i Both l n » . ) W m neneg J jn*. to Grand ft ark*. N. D.tlO 1 3,101,000
Grand Forks to Canada jtm n d a r y . . . . 96)
He!" a * Rod Mour.’aln RR.

+ 133,500 •

5.260,000 I +1,000.000
750,000 J
942,941

+1,000.000

8,675,000

+5.306.100

366,599

+402,000

270,000

+600.000

1,218,000
1,733,000

+1,000,000

375,000

•424,000

3 88,00)

+228,000

1,383.000

+275,000

5,2 9 8 .0 0 )

+4,961,000

68,000

+300,000

2,900,000

+2,000,000

**

309,000

+204,000

-......... 64

063,000

962,000

+1,000,000

N one.

N one.

+172,000

T a c o m a O r tln g k 3 » .* u th eastern R R .—

O r tln g to P uyallup R+ver .W ash .......

9

P a c if ic R R . M is s o u r i D iv is io n f ir s t m o r t g a g e
1 8 7 9 ....................................................................................................
G e n e r a l f ir s t m o rtg a g e b o n d s [w h ic h b o n d s , t o g e t h e r w ith
t h e $ 2 4 ,5 9 0 ,0 0 0 o f a d d it i o n a l b o n d s o f t h e s a m e is s u e
p le d g e d w ith th e T r u s te e h e re u n d e r , a re n o w o u ts ta n d ­
i n g u n d e r t h e m o r t g a g e o f 1 8 8 1 ] ..........................................................
W e s t e r n R a i l r o a d b o n d s o f 1 8 7 7 ...............................................................
S t. P a u l & N o r t h e r n P a c if ic R y . m o r t g a g e b o n d s o f 1 8 8 3 ..

$ 1 ,7 7 6 ,0 0 0

1 6 ,1 4 2 ,0 0 0
4 2 0 ,0 0 0
8 ,0 0 3 ,0 0 0

T o t a l ........................................................................................................................$ 2 6 , 3 4 1 , 0 0 0

The said bonds hereby reserved shall be issued, when
authorized by resolution cf the Board of Directors of the
Railway Company, as follows, and not otherwise, viz.:
TO R E T IR E M ISSO U R I D IV ISIO N BO ND S D O LLA R F O R D O LLA R.

(a J The Trustee shall deliver $1,000 par value of the said
bonds for each $1,000 of principal of such Missouri Division
bonds canceled, or acquired for the sinking fund.
TO R E T IR E G E N E R A L F IR S T M ORTGA GE BO ND S, NOT EX C E E D IN G
$ 1 , 3 0 0 F O R EA CH $ 1 , 0 0 0 T H E R E O F .
f b ^/Whenever the General First Mortgage bonds n o t acquired
through the operation of the sinking fund shall be tendered
to
- Trustee, the Trustee shall deliver such amount of the
bonds hereby secured as the Railway Company by its Presi­
dent, or one of its Vice-Presidents, shall certify that it has
used to acquire such bonds tendered, but in no instance more
than $1,300, par value thereof, for each $1,000 of principal of
the bonds so received by the Trustee.

AN T SU R PL U S NOT SO USED TO B E AD D ED TO CASH FU N D .

400,000

H e le n * t o R im in i. M o n t - . . . ™ ............
J a m e s R iv e r V a lle y R R .—

Jam estow n to oeke*. No, I>ak

— »

A m o u n t.

N o rth e rn

Whenever the bonds delivered as aforesaid shall be less
than $1,300 for each $1,000 of principal of the General First
Mortgage bonds so received, the Irustee may deliver to the
Railway Company an amount of the bonds reserved equal
to the difference between the. amount of bonds delivered in
exchange and the amount reserved for that purpose: Pro­
vided, That the net proceeds of the sale of such bonds shall
simultaneously be deposited with the Trustee, and shall be
added to the c a s h f u n d established under Section 3 of Ar­
ticle Eight hereof.
D ISPO SIT IO N O F P R IO R L IE S B O SD S ISSU ED W IT H R E SPE C T TO G E N ER A L
F IR S T M ORTGAGE BONDS R E D E E M E D BY T H E SIN K IN G FU N D .

(c) Whenever the trustee of said General First Mortgage
shall have received any moneys for the sinking fund created
under said mortgage (whether for interest on bonds held
in such sinking fund or otherwise) and shall have called
for redemption therewith any bonds secured by that mort­
gage, then, for each $1,000 par value of said General
First Mortgage bonds so called for redemption, other than
bonds held by the Trustee hereunder, the Trustee here­

1HE CHRONICLE.

1014

under shall certify $1,300 par value of the bonds hereby
secured, and shall apply the same as follows, viz.:
The Trustee hereunder shall set apart $1,300 par value of
the bonds hereby secured for each $1,100 of such moneys
received by the trustee of said General First Mortgage for
said sinking fund which shall have been derived from sales of
lands and which shall be applicable to the redemption of
General First Mortgage bonds other than bonds then held by
the Trustee hereunder—a ratable share of such moneys
being regarded, for the purposes hereof, as applicable to the
redemption of each of the bonds called for redemption
whether held by the Trustee or not. The bonds so set apart
may be sold by the Railway Company, provided that the
net proceeds of the sale, as certified by (1) the Chairman of
the Board of Directors, or the President, or any Vice-Presi­
dent and (2) the Treasurer, or any Assistant Treasurer, or the
Railway Company, shall simultaneously be deposited with
the Trustee, and such proceeds, when so received, shall be
added to the net moneys mentioned in Article Eight hereof
and be treated in all respects as part thereof.
If, however, such bonds shall not be sold by the Railway
Company within one year after the call for redemp­
tion of the said General First Mortgage Bonds, then out
of one-half of the bonds so set apart and unsold (so
far as such one-half shall suffice) an amount at par equal to
the difference between $500,000 and the amount applied dur­
ing the preceding calendar year out of the combined fund
under Section 2 of Article Eight hereof, to the purchase of
bonds hereby secured, shall be canceled by the Trustee.
The remainder of such one-half of said bonds, together with
the other one-half of such bonds so set apart and
unsold, may be sold from time to time thereafter
by the Railway Company, and the Trustee shall deliver the
same upon its order, provided that the net proceeds as certi­
fied by two such o dicers of the Railway Company, shall
simultaneously be deposited with the Trustee, and added to
the c a s h p o n d under Section 3 of Article Eight hereof.
All of the said bonds hereby secured—other than those to
be set apart as aforesaid—which shall be certified under
this subdivision ‘YcJ” shall when and as certified be forth­
with delivered by the Trustee to the Railway Company or
upon its order.

[Vox.. LX1I1.

sued shall be acquired hereunder unless a sum equal to the
entire proceeds of the bonds used therefor shall have been
applied by such company to the acquisition or construction
of new property or betterments).
S T R IN G E N T R E G U L A TIO N S AS TO IS HUE O F THESE $ 2 5 , 0 0 0 , 0 0 0 BO N D S.—
VERIFIED C E R T IF IC A T E S .

The bonds reserved under this Section shall be certified by
the Trustee only as follows, viz.:
( 1) They shall be delivered only upon receipt of a resolu­
tion of the Board of Directors of the Railway Company, cer­
tified by its Secretary or Assistant Secretary, calling for the
delivery of such bonds, and stating that the same will be set
aside from all other assets of the Railway Company, and will
be used only for the purposes authorized by this Section.
(2 ) In the calendar year 1898 not exceeding $1,500,000, par
value, shall be delivered.
(■() In each calendar year thereafter there shall be de­
livered not exceeding $1,500,000 par value ; but in every
instance, before delivering the same, the Trustee shall re­
quire the Railway Company to furnish the verified certificate
of some person or persons, stating as of their own knowledge:
(a) That all bonds del vered under this Section since the last previous
verified certificate h ave been used for the purposes above provided,
specifically indicating every acquisition or construction of any rail­
road, track, structure, betterm ent, rolling stock or other property, and
every acquisition of bonds or stock of an y com pany ow ning any rail­
road or other property. Also stating in detail th ea m o u D to f bonds
expended for eaoh purpose, and that no such expenditure w as included
in any previous certificate;
(b) that the price paid in such Prior Lien Gold bonds, or their pro­
ceeds, w as n ot in excess of the fair value of the work done or property
acquired, and that the bonds were disposed of at not less than their
fair market v a lu e ;
(c) th a t no sum has been paid over by the Trustee to the R ailw ay
Company from any other source under this indenture on account of
any expenditure m entioned in the certificate.
(cl) In case of new property every such verified certificate also shall
state the am ount of all prior lien or charges, if any, to which the prop
erty is subject.
And in ease of the acquisition of auy shares of the capital stock,
bonds or otherindebtedne.ss of auy other Company it shall state whether
the property of such other com pany is subject to any lien , charge or
indebtedness and, if so, the am ount thereof.
N E W P R O P E R T Y SO A C Q U IR E D IN ANY O N E Y E A R SH A LL NOT BE S U B JE C T
TO O V E R $ 2 , 0 0 0 , 0 0 0 O F L IE N S , AND F O R T H E S E L IE N S BONDS
H E R E B Y SE C U R E D SH A L L BE R E S E R V E D .

(4 ) The Railway Company shall not by use of any such
bonds in any one calendar year acquire or construct new
property, or acquire shares in any other company, if the
f d j On tender of any outstanding old bonds of the West­ amount of the liens prior to this indenture, upon such new
ern RR. of Minnesota, or of the St. Paul & Northern Pacific property, and all indebtedness of such companies whose
Ry. Co., the Trustee shall in exchange deliver to the Railway stock shall be acquired, shall in the aggregate exceed
Company a like amount at par of the said bonds hereby $ 2 , 000, 000.
To retire such certified liens or indebtedness there shall be
secured.
(■■) Whenever any of said bonds of the St. Paul & North­ set apart out of the bonds reserved under this Section an
ern Pacific Railway Company shall be acquired for its amount at par equivalent thereto. The bonds so set apart
sinking fund, the Trustee hereunder shall in like manner shall be taken from the $1,500,000 bonds under this Section
deliverable in such calendar year, or in the next two suc­
deliver a like amount at par of the bonds hereby secured.
( f ) Whenever the Railway Company, on or after a date ceeding calendar years, as may be agreed between the Rail­
eight months prior to the maturity of such outstanding old way Company and the Trustee.
bonds of the Western RR., or the St. Paul & Northern Paci­ OFFICERS MUST FILE WRITTEN STATEMENTS AS TO PROPER APPLICATION
OF BONDS.
fic Ry., shall tender cash sufficient to purchase the same at
par, the Trustee shall deliver to the Railway Company an
C5) Every such verified certificate unless signed (1) by the
equivalent amount at par of the said bonds hereby secured. President or one of the Vice-Presidents, and (2) by the
Every outstanding old bond of the Western RR. and of Comptroller, or Auditor, or Treasurer, of the Railway Com­
the St. Paul & Northern Pacific Ry. Co. received by the pany, shall be accompanied by a written statement of one of
Trustee under this Section shall by it be stamped with the the officers first above designated and one of the officers sec­
words “ Not negotiable, but beld in trust for the purposes ondly above designated, that they believe such certificate
declared in the Prior Lien Mortgage of the Northern Pacific to be true, and that such bonds have been used only for
Railway Company, dated November 10th, 1896,” and shall be purposes properly chargeable to capital account of the Rail­
held, -without impairment of lien, as additional security for way Company, and that no part thereof has been used for
the payment of the bonds hereby secured until Galled for ordinary maintenance of the lines of railway or of other
payment under any provision of the mortgage securing such property owned or controlled by the Railway Company.
bond, and if not so called then until all bonds of the issue
of which such outstanding old bonds is one shall have been BONDS AND STOCK SO ACQUIRED SHALL BE TRANSFERRED TO TRUSTEE.
Together with these statements and verified certificates,
paid or provided for.
REMAINING $25,000,000 BONDS RESERVED FOR EXTENSIONS- there shall be delivered to the Trustee all bonds and shares
of stock so acquired, and such further instruments as may
ADDITIONS AND BETTERMENTS AFTER JANUARY
1, 1898, AT NOT EXCEEDING $1,500,000 PER
be necessary to vest in the Trustee all new property so
ANNUM ; SINGLE EXCEPTION AS TO
acquired. Also there shall be furnished the written opinion of
$3,000,000.
counsel of the Railway Company to the effect that such
S e c . 4. The remainder of the authorized issue hereunder, instruments and conveyances are sufficient for that purpose.
amounting to $25,000,000 of said bonds (except such portion
Except to retire indebtedness, as hereinbefore provided,
as shall be delivered prior to January- 1st, 1898, as provided and except as provided in the following paragraph hereof,
in paragraph (6 ) of this section) shall be reserved, to be bonds shall not be certified under this Section in excess of
certified bv the Trustee, not immediately, but only when an aggregate amount of $1,500,000 in any one calendar year.
called for by resolution of the Board of Directors as next
PRIOR TO JAN. I , 1 8 9 8 , $ 3 , 0 0 0 , 0 0 0 BONDS -MAY BE USED FOR
hereinafter provided, for the following purposes, viz.;
CERTAIN PURPOSES.
For the construction or acquisition, on and after January
(6) Of the bonds reserved under this Section, not exceed­
1st, 1898, of branch lines, extensions, terminal properties,
rolling stock or other additional property; or for better­ ing $3,000,000 may be used prior to January 1st, 1898, for:
(1) The creation of an insurance fund.
ments subsequent to said date.
(2) The creation of a reserve fund for any special improve­
A ll such construction, or betterm ents, or property acquired, shall
lie upon lines of railway, branches or term inal properties of the Rail­ ments upon the railways, terminals and lands subject to this
way Company, subject to the lien of this indenture, or of some com ­ indenture.
pany m entioned in the schedule of stocks in the granting clauses here­
(3) Any other necessary purposes of the Railway Company
of (other than the Duluth Uuion D epot & Transfer Co., M innesota
Transfer Railway Co., St. Paul Union Depot Co., Northern Pacitic Coal which two-thirds of all the members of the Board of Direc­
Co. and Northern Pacitic Express Co.) or of any other com pany of tors of the Railway Company shall approve.
whose oapital stock at least a majority in am ount shall have been
The Trustee shall certify and deliver such bonds to the
[ ( pledged hereunder.
Railway Company or upon its order from time to time, but
►Or for the acquisition of shares, bonds or other obligations only when and as called for by resolution of the Board of
of a company owning any such branch line, extension, ter­ Directors of the Railway Company approved by two-thirds
minal property, rolling stock, or other additional property of all the members of the Board, specifying the particular
(provided that a majority of the stock of such company purposes for which the bonds are to be used. From time to
shall be pledged hereunder, and provided further that after time, also, upon the written request of the Trustee there
the acquisition of a majority of the capital stock, no bonds, shall be furnished to the Trustee a certificate signed by the
shares or other obligations of such company thereafter is­ Chairman of the Board of Directors, or the President', and
TO

RETIRE ST. PAUL

to NORTHERN

PACIFIC AND WESTERN RAILROAD
BONDS AT PAR.

THE CHRONICLE.

D ecember 5, 1896. |

1015

bv the Treasurer or Comptroller of the Company, specifying
S ec . 3. Unless the Railway Company shall be in default it
the purposes for which said bonds have been issued.
shall have the right to vote upon ail shares of stock pledged
REGISTERED BONDS WITHOUT COUPONS.
hereunder for all purposes not inconsistent with the pro­
S ec. 5. Coupon bonds amounting to $500 or to any multi­ visions of this indenture.
S ec. 4. The Trustee shall be authorized to cause to be
ple of $500 shall be exchangeable at the option of the holder
registered in its name as Trustee all coupon bonds pledged
for a tike amount of registered bonds, without coupons.
Whenever any such registered bonds shall be surrendered with it hereunder, or to cause the same to be exchanged for
for transfer, the Trustee shall deliver to the transferee a registered bonds, or to be stanied “ Not negotiable. Held
like amount of new registered bonds; but no registered bond by The Mercantile Trust Company, as Trustee, under the
may be converted into 3 coupon bond.
Prior Lien Mortgage of the Northern Pacific Railway Com­
F*or any exchange of coupon bonds for registered bonds, pany, dated November 10th, 1896.”
S ec. 5. In case of default in the payment of the principal
and for any transfer of registered bonds without coupons,
the Railway Company, at its option, may make a charge not or interest of any mortgage bonds at any time pledged
exceeding 50 cents for each new registered bond issued in hereunder, then, in any such case, the Trustee, upon the
exchange for any surrendered bonds; but no charge shall be written request of the Railway Company, shall cause proper
proceedings to be instituted to foreclose the mortgage by
made for registration of the principal of coupon bonds.
which such bonds are secured.
BONDS MUTILATED OR DESTROYED MAY BE REPLACED.
[Then follow explicit directions as to the course which
In case an y bond issued hereunder shall become mutilated
or shall be destroyed, upon the surrender of any such muti­ shall be pursued in order to secure for the bondholders here­
lated bond to the Trustee, or upon filing with the Trustee under their rights in every particular in the event of fore­
satisfactory evidence of such destruction, the Railway Com­ closure sale, liquidation or reorganization of any company
pany upon receiving indemnity satisfactory to it may in its whose securities are pledged with the Trustee.l
discretion issue a new bond bearing the same serial number.
ARTICLE FOUR.
ARTICLE TWO.
COUPONS PLEDGED APART FROM BONDS TO HAVE SUB­

NEW COUPON SHEETS TO BE ATTACHED ON AND AFTER JAN.
I,

1947.

S eqtion 1. Upon presentation of any coupon bond at its

office or agency in the City of New York, on or after Jan.
1, 1947, the Railway Company will cause to be attached to
su ch bond, without expense to its holder, sheets of coupons
representing the remaining interest instalments.
PROPERTY HEREAFTER ACQUIRED W IT S THESE BONDS TO
BE IMMEDIATELY SUBJECT TO THIS MORTGAGE.
S e c . 3. All property hereafter acquired out of bonds se­

cured by this indenture shall immediately be subjeot to the
lien of this indenture.
DEEDS OF FURTHER ASSURANCE.

3. The Railway Company will assign to the Trustee
all real and personal estate which it shall acquire as appurte­
nant to anv railroad or leasehold estate hereby mortgaged,
and it will also execute such further deeifs and assur­
ances in the law as the Trustee shall reasonably require for
better scouring payment of the principal and interest of the
bonds intended to be hereby secured.
S et.

OFFICE FOR REGISTRATION OF BONDS IN NEW YORK CITY.
S ec. 4. The Railway Company will maintain in New York

City a registry o tiee for the registering upon presentation of
coupon bonds and registered bonds issued hereunder. [For
further provisions respecting registration see Sec. 5 of Arti­
cle 1 and also the copy of the bond above.—E ds.]
OUTSTANDING OLD BONDS AT OR BEFORE MATURITY
MUST BE PAID OR PLEDOED HEREUNDER.
S ec. 5. Tiie Railway Company will pay or will pledge

hereunder, on or before their respective dates of maturity,

all of said outstanding old bonds, and will not permit any

additional of - li t bon is to be issued. It will not extend the
payment thereof, and it will punctually pay their interest.
MECHANICS’ AND OTHER CLAIMS TO BE PAID PROMPTLY.
S ec. 6. The Railway Company will not voluntarily suffer

any lien which would be prior to the lien of these presents.
TAXES, ASSESSMENTS TO BE PROMPTLY PAID.

S ec. 7. The Railway Company will also from time to time
par all taxes, a - - ’-sment-i an 1 governmental charges law­
fully imposed the lien of which would be prior hereto.
ALL INTERESr OF TIIE BONDHOLDERS HEREUNDER IN THE
COMPANIES WHOSE CAPITAL STOCK IS PLEDGED
SHALL BE STRICTLY PRESERVED.

S e c . 8. Except subject to the lien hereof, or as herein
otherwise expressly provided, the Railway Company (1) will
not part with or encumber any shares, or the voting power
thereon, of any Company a majority of whose stock shall
have been pledged hereunder, and (2) will exercise its voting
power thereon in such manner that it shall retain in itself
the rights of the majority stockholder therein; and (3i will at
all times preserve each Company’s corporate existence.
It will not permit any increase or stock by any such
Company, or the creation of any indebtedness, or the
guaranty of any bonds, unless effective provision be made
that such indebtedness and such bonds guaranteed and
all such additional stock (or sucli part as is proportionate to
the part of such entire capital stock previously pledged here­
under) shall immediately be pledged with the Trustee.
S ec. 9. All claims which the Railway Company may have
against any such company shall be subject to the lien hereof.
ARTICLE THREE.
TREATMENT OF BONOS AND STOCKS PLEDOED.

S ec. 1. Unless the Railway Company shall be in default
in the due performance of some covenant of this indenture,
the Railway Company shall be entitled to receive all interest
paid and dividends declared in respect of any bonds or
stocks pledged with the Trustee.
S ec. 2. All sums paid on account of the principal of any
bon I pledged with the Trustee hereunder or of any shares
of stock [in ca- ■of liquidation! (unless applied as in Section
5 of this Artich- provided i shall be received by the Trustee
and shall 'except as provided in Section 4 of Article Eight
hereof, b ■use 1 as part of the cash fund under Section 3 of
A rticle Eight hereof.

ORDINATE LIEN.

1. No interest obligation belonging to any bond
hereby secured which on and after maturity shall be trans­
ferred or pledged apart from its bond shall be entitled to
any benefit from this indenture, except after the prior
payment in full of the principal of all bonds issued here­
under, and of all coupons and interest obligations not so
transferred or pledged.
S

ec

.

UPON DEFAULT FOR SIX MONTHS, TRUSTEE MAY TAKE
POSSESSION.
S e c . 2. In case (1) of default for six months in the pay­

ment of any interest on any bond secured by this inden­
ture, or on any bond secured by either of the aforesaid
mortgages of the Northern Pacific Railroad, the Western
Railroad of Minnesota, or the St. Paul & Northern Pacific
Railway, or (2) of default in the punctual payment of the
principal of any of said bonds; or (3) of default for six
months in the payment of any tax, assessment or other
governmental charge lawfully imposed after written notice
thereof from the Trustee or from holder’s of 5 per cent in
amount of the bonds hereby secured ; or (4) of default for
six months in the due performance of any other covenant
herein contained, after like written notice; tnen in every
such case the Trustee, personally or by its agent, may enter
upon all or any part of the railways, lands and franchises
hereby conveyed, and operate the same. Thereafter the
Trustee may. at the expense of the trust estate, maintain
and insure the rolling stock, tools and machinery and other
property to the same extent as is usual with railway com­
panies, and may make all necessary repairs and useful ad­
ditions and improvements as to it may seem judicious.
After deducting the expenses of operating said railways,
and of all renewals, additions, betterments and improve­
ments, and all taxes, assessments and prior charges, includ­
ing any interest paid on bonds prior in lien to those secured
hereby, as well as compensation for its own services, the
Trustee shall apply the income of the railway as follows:
l a ease tiie principal of the bonds hereby secured shall not have
become due, to the payment of the interest rem aining in default, in
the order of the m aturity of the instalm ents of such interest, with
interest thereon at the rate of 4 per cent per annum; aiioh payments
to be made ratably to the persons or parties entitlod thereto, without
discrim ination or preference.
tn ease the principal of the bonds hereby secured shall have become
due by declaration or otherwise, first to the payment of the accrued
Interest (with Interest thereon at the rate of 4 per <ent per annum) in
the order of the m aturity of the instalm ents thereof, and n ext to the
paym ent of the principal of all bouds hereny seoured. In every
instance such paym ents shall be made ratably to the persons or
parties entitled to such payment, without any discrimination.

The Trustee shall also in such case exercise the right to
vote on all shares of stock pledged hereunder, and, for the
benefit of the holders of bonds hereby secured, shall receive
all interest moneys and dividends payable upon all pledged
bonds and stocks. If a Receiver shall have been appointed,
the Trustee, in its discretion, may turn over the interest
moneys so collected to such Receiver, and may co-operate
with the Receiver in operating the system in such manner
as the Trustee shall deem best for the bonds herebv seoured.
UPON DEFAULT FOR SIX MONTHS IN THE PAYMENT OF
INTEREST, THE TRUSTEE, ON REQUEST OF A MAJOR­
ITY OF THE BONDS. SHALL DECLARE THE
D D rv n r

p a

T . nTTT?.

S ec. 3. In case of default for six months in the payment

of any interest on any bond hereby seoured, then, upon the
written request of the’ holders of a majority in amount of the
bonds then outstanding, the Trustee, by notice in writing
delivered to the Railway Company, shall declare the princi­
ple of all bonds hereby secured to be due and payable im­
mediately. But if subsequently all arrears of interest, with
interest at the rate of 4 per cent per annum on overdue in­
stalments of interest, shall either be paid by the Railway
Company or be collected out of the mortgaged premises be­
fore any sale of the mortgaged premises, then the holders of
a majority in amount of the bonds hereby seoured then out­
standing, by written notice to the Railway Company and to
the Trustee, may waive such default and its consequences.

3 016

LHK CHRONICLE

[VOL. LX1U.

holders of bonds or coupons shall enforce any right hereun­
der except in the manner herein provided, and for the equal
benefit of all holders of such outstanding bonds and coupons.
S ec. 18. Except, as herein expressly provided to the con­
Sec. 4. Ia oase of default made a til ooatinued as specified trary, no remedy herein conferred is exclusive of any other
in Sectio 1 2 of this article, the Trustee ( a ) may sell to the remedy, but every such remedy shall be in addition to every
highest and lust bidder, all and singular the mortgaged other remedy existing at law or in equity or by statute.
property and premises, bonds and stocks, rights, franchises
BONDS AND COUPONS MAY BE USED IN SETTLEMENT.
and interests, lands and appurtenances, in one lot, unless a
Sec. 19. A t any sale hereunder the purchasers in m aking
sale in parcels shall be required under the provisions of
Seotion 6 of this Article. The sale shall be made at public payment shall be entitled to turn in any bonds and any ma­
auction at such place in the City of Superior, Wis., or at tured and unpaid coupons hereby secured, estim ating the
such other place, and a t such time and upon such terms, as value of such bonds and coupons at the sum payable out of
the Trustee may fix in the notice of sale to be given as herein the net proceeds of such sale to the holders thereof as their
provided. Or ( b ) the Trustee may proceed to protect the ratable share of such net proceeds.
rights of bondholders under this indenture, by suits in equity
ARTICLE FIVE.
or at law, whether for the foreclosure of this indenture, or
for the enforcement of any other appropriate legal or equit­
REQUESTS OF BONDHOLDER i TO BE AUTHENTICATED.
able remedy, as the Trustee,being advised by counsel learned
All requests or other instrum ents of the bondholders re in the law, shall deem most effectual.
quired by this indenture shall be authenticated by an in stru ­
Upon the w ritten request of the holders of 25 per cent in ment or instrum ents in writing, signed by the bondholders,
amount of the bonds hereby secured, it shall be the duty of or their atto r ne ys.
the Trustee, when indemnified as hereinafter provided, to
ARTICLE SIX.
enforce the rights of the bondholders as aforesaid.
UPON DEFAULT FOB SIX MONTHS THE TRUSTEE, WHEN RE­
QUEST I> 1ST 15 PE tO E X T O F THE BONDS. S H ALL SELL
^
THE PROPERTY AT AUOTIO S OR INSTITUTE
FORECLOSURE OR OTHER SUITS.

HOLDERS OF 75 PER CENT OF THE OUTSTANDING BONDS
SHALL HAVE THE RT MIT TO DIRECT FORECLOSURE
AND OTHER PROCEEDINGS.
S ec. 5. The holders of 75 per cent in the amount of the

bonds hereby secured and then outstanding, in case of any
subsisting default, shall have the right to direct and control
the method and place of conducting all proceedings for any
sale of the premises, or for the foreclosure of this indenture,
or for the appointment of a receiver, or of auy other pro­
ceedings hereunder.
PROVISIONS REGARDING ANY SALE.

6 to 13. If the holders of a m ajority in amount of
the bonds hereby secured then outstanding shall in w riting
request the Trustee to cause said premises to be sold in
parcels, the sale shall be made in such parcels as may be
specified in such request.
Notice of any sale shall be advertised once a week, for four
successive weeks prior to the sale, in New York, N. Y.; Su­
perior, W is.;St. Paul, Minn.; Bismarck, Dak.; Helena, Mon.;
Kathdrum, Idaho; Tacoma, Wash.; Portland, Oregon.
The proceeds of any such sale shall be applied as follows :
S ec s.

RELEASE OF PROPERTY FROM LIEN H E tEO F.

Upon the w ritten request of the Railway Company, ap ­
proved by resolution of its Board of Directors or Executive
Committee, the Trustee shall release from the lien and oper­
ation of this indenture any part of the mortgaged premises
(excepting the land grant); provided (1), th a t no part of the
lines of track shall be released unless the Railway Company
shall have ceased to use the same, and no part shall be
released if thereby the continuity of the lines of railway of
the Railway Company shall be broken; and (2) th a t nothing
appurtenant to the maintenance or operation of the railway
shall be released unless the same shall no longer be expedient
to be retained. All moneys received for any property sub­
ject to this indenture taken by power of em inent domain
either shall be added to the c a s h f u n d under Section 3 of
Article Eight hereof, or shall be applied, with the approval
of the Trustee, to tlie purchase of other property, real or
personal, which shall be subject to all the trusts hereby
declared, or in betterm ents upon the mortgaged premises.
The Railway Company shall also have full power to dispose
of any machinery, equipments and implem ents unfit for use,
replacing the same by new machinery, equipment or imple­
ments, which shall be subject to this indenture.

F irst.—To the naym aat of the expanses of suoli sale, inolufling a
reasonable eoiupeusatioa to tlie Trustee, a u l o; all exp an ses inourred
In m anaging tlie property, and all taxes, assess nents or liens prior to
ARTICLE SEVEN.
tlie lien of tbese presents, excep t tUose to which such sales shall have
been made subject.
ALTERATION OF LEASES, CONTRACTS OR TRACKAGE RIGHTS.
Second —To the payment of the whole am ount then ow ing upon the
In case a t any time it shall in the judgm ent of the
bonds hereby secured for principal and interest, with interest at the
rate o! 4 per oent per annum on the overdue instalm ents of interest. Trustee be for the interest of the bondholders th a t the
In oase such proceeds Shall bo insufficient to pay in full the whole Railway Company shall make changes in or substitutions
am ouut so duo, then to the paym ent of suoh principal and int west,
w ithout prerereace or priority of principal over interest, or of interest of any leases, contracts or trackage rights by which access
over principal, or of any instalm ent of interest over any other in stal­ is now secured to any points, the Railway Company, w ith
m ent of interest, ratably, to the aggregate of such principal and the the w ritten consent of the Trustee, may make any such
accrued and unpaid in terest; subjeot, however, to the provisions of changes or substitutions, but the modified or substituted
Beotion 1 of this Article.
lease or contract shall be subject to this indenture.
COMPANY WAIVES ALL RIGHTS UNDER EXTENSION, VALUA­
TION AND REDEMPTION LAWS.
ARTICLE EIGHT.
S ec. 14. The Railway Company will not take advantage LAND GRANT—RIGHT TO SELL—AP FLIC AT ION OF PROCEEDSof any stay or extension, valuation or redemption law now
S e c t io n 1. The Railway Company, at all tim es, may con­

or at any time hereafter in foroe, and it covenants th a t it tract for the sale of auy of the lands granted by Congress to

will not hinder the execution of any power herein granted the Northern Pacific Railroad Company at such prices and
to the Trustee.
upon such term s as shall uot, within tw enty days after the
RECEIVER MAY BE APPOINTED ON COMMENCEMENT OF Railway Company shall have given notice thereof in w riting
JUDICIAL PROCEEDINGS.
to the Trustee, be disapproved by the Trustee as unreason­
S ec . 15. Upon commencement of any ju lic ia l proceedings able and improper. Provided, however, th a t until the
to enforce any right of the bondholders under this indenture, Northern Pacific Railroad Missouri Division mortgage dated
the Trustee shall be entitled to exercise the right of entry May 1, 1879, and the General First Mortgage dated January
herein conferred, and to secure the appointment of a Re­ 1, 1881, shall have been fully satisfied, the said lands shall
ceiver of the premises, with such powers as tii9 Court shall be sold according to the conditions of the said mortgages
Confer ; but notwithstanding the appointment of any Re­ and solely for the purposes therein mentioned, in the same
ceiver, the Trustee shall be entitled, as pledgee, to continue manner as if this indenture had never been made.
to retain possession and control of the stocks, bonds, cash
All moneys arising from the sale of the said lands hereby
and other property pledged hereunder.
conveyed shall be received by the Trustee and after repayment
PRIOR TO DEFAULT COMPANY MAY SURRENDER POS to the Railway Company of its outlays for taxes, assess­
SESSION TO THE TRUSTEE.
ments, advertising charges, betterm ents and other proper
S ec . 16. The Railway Company whenever it shall deem expenses incurred in connection with said lauds, or to pro­
expedient for the better security of such bonds, although mote the sale thereof, shall be used and applied as provided
there be then no default, may, with the consent of tlie in Sections 2 and 3 of this article, and are herein designated
Trustee, surrender to the Trustee full possession of the whole by the term “ net moneys.”
or any part of the property, premises and interests hereby FUND OF NOT TO EXCEED $500,000 Y E 1R L Y TO PURCHASE
conveyed, for any period fixed or indefinite. The Trustee
BONDS OF THIS ISSUE AT NOT OVER 110.
shall thereupon manage the property in accordance w ith the
S ec. 3. W ithin three months after the expiration of each
provisions of this indenture, and shall apply the income calendar year there shall be added to tlie “ net moneys” re­
thereof as provided in section 2 of ths article. Upon appli­ ceived in such calendar year, under Seotion 1 of this Article,
cation of the Trustee, and with consent of the Railway Com­ (1) the proceeds received by the Trustee in th at year from
pany, a Receiver may be appointed to take possession of said the sale of bonds set apart and sold for th at purpose, as pro­
property, with all the rights and duties by this seotion con­ vided in subdivision f c j of Section 3 of Article One hereof,
ferred upon the Trustee.
and (2) also the surplus of moneys in such year received by
REQUEST OF 25 PER CENT OF THE BONDS NECESSARY TO the Trustee as provided in Subdivision Seoond of Section 4
REQUIRE ACTION HEREUNDER.
of this Article, upon the redemption of bonds of the North­
S e c . 17. No holder of any bond or coupon shall have the ern Pacific RR. Co., held by the Trustee hereunder. Out
right to institute any action in equity or at law for the fore­ of one-half of such combined fund received in such calen­
closure of this indenture or for the appointment of a receiver dar year an amount up to, but not exceeding, in the aggre­
or for any other remedy horeunder unless the holders of 25 gate $500,000 shall be applied to the purchase of bonds
per cent in amount of tlie bonds hereby secured and then out­ hereby secured a t not over 110 p ercen t of their par value.
standing shall have made w ritten request of the Trustee, and The Trustee immediately thereupon shall cancel all bonds so
Shall have afforded it reasonable opportunity to exercise the purchased. Such purchases shall be made whenever $50,000
powers heveinbefore granted ; it being intended that no are available therefor.

D ecember 5. lHtftj. |

THE CHRONITLE.

I ? THESE B 1X 03 ARE NOT PURCHASABLE XT SAID PRICE
THE FUND TO BE USED TO PURCHASE AT NOT OVER
PAR GENERAL LIEN 3 PER CENTS.

If within sa il three months the Trustee shall not be able
upon the terms above prescribed to purchase bonds hereby
secured to an amount sufficient to exhaust the portion
of the combined fund for th at year applicable to such
purchase (the portion so applicable not to exceed $500,001) as
aforesaid) then and in every such case the unapplied bal­
ance shall be used by the Trustee in such manner as the
Railway Company and the Trustee may deem best, in the
purchase at not over par and cancellation of General Lien 3
per cent Railway and Land Grant Gold bonds which the
Railway Company purposes to issue under a mortgage sub­
ordinate to the lien of this indenture.
The Trustee shall purchase with funds held for purchases
under this section any bonds hereby secured held by the
Railway Company in its treasury, if the Railway Company
shall offer to s 11 the sim ->to the Trustee at as low prices as
other bondholders.
OR IF TRUSTEE THINKS BEST. PRIOR LTEN BONDS M A Y BE
PURCHASED AT PRICES HIGHER THAN 110%, OR
THE FUND M A Y BE OTHERWISE INVESTED.

T o th e e x te n t t h a t n e it h e r b o n d s h e re b y s e c u re d n o r s u c h
G e n e ra l L ie n B on Is c a n b e b o u g h t o n th e te r m s h e re in p re ­
s c r i b e ! , th e b o n i s h e re b v s e c u re d m a y b s p u rc h a s e d a t
h ig h e r p ric e s t h a n th o se a b o v e fix ed , o r s u c h u n a p p lie d b a l­
a n c e s h a ll bo in v e s te d in s e c u ritie s in w h io h S a v in g s B a n k s
u n d e r th e la w s o f N e w Y o rk in v e s t t h e i r f u n l3 , s u c h s e c u ri­
tie s t o b e h e ld b y t h e T r u s te e a s a p a r t o f th a t r u s t e s ta te
h e re u n d e r.
CASH FUVD AVAILABLE FOR IM P R O V E M E N T S , E X T E N S IO N S ,
ETC.

S s o . 3. In e a c h c a le n d a r y e a r , o n e -h a lf o f t h e c o m b in e d
fu n l m e n tio n e d in S e c tio n 3 o f th is A rtic le , re c e iv e d b y th e
T r u s te e in t h a t y e a r a n d s u c h p o rtio n o f th e o th e r o n e -h a lf
a s m a y bo in e x c e ss o f $500,000, a n d a lso , in th e c a s e s h e re ­
in b e fo re in d ic a te d , a n y m o n e y s re c e iv e d b y th e T ru ste e
on a c c o u n t o f th e p rin c ip a l o f a n y b o n d s p led g e d h e re
under, o th e r th a n b o n d s or th e N o rth e rn P a c ific RR. Co.,
an<l a n v m o n e y s re c e iv e d o n a n y s h a re s o f s to c k o r c la im s
upon t h e liq u id a tio n o r d is s o lu tio n o f th e c o m p a n y w h ic h
issu e d s u c h s to c k , a n d a ls o th e n e t p ro c e e d s o f sa le s of
b o n d s a s p ro v id e 1 in th e la s t p a ra g r a p h o f S u b d iv isio n f b J
of S e c tio n 3 o f A rtic le O n e h e re o f, a n d in th e la s t s e n te n c e
o f th e se c o n d p a r a g r a p h o f S u b d iv isio n f e j o f S e c tio n 3 of
A rtic le O n e h e re o f, sh a ll be se t a p a r t by th e T ru s te e a s a
Cash f u n d . S u -h c a s h FUND s h a ll be p a id o v e r to th e R a il­
way C o m p a n y , fro m tim e to tim e , a n d be u se d fo r a n y p u r ­
poses (su c h a s im p ro v e m e n ts , e x te n s io n s , e tc .) fo r w h ic h
P r io r L ie n b o n d s a r e re s e rv e d u n d e r S e c tio n 4 o f A rtic le
One h e re o f, in c lu d in g th e r e tir e m e n t o r a c q u is itio n o f lien s,
c h a r g e s a n d in d e b te d n e s s fo r w h ic h b o n d s h e re b y se c u re d
s h a ll h a v e b e e n se t a p a r t a s p ro v id e d in S e c tio n 4 o f A rtic le
One h e re o f. T h e c a s h f u n d s h a ll be s u b je c t, h o w e v e r, to th e
following c o n d it i o n s :
T h e c a s h so se t a p a r t u n d e r th is s e c tio n s h a ll b y th e T ru s ­
tee b e p a id to th e R a ilw a y C o m p a n y , a s fo llo w s, viz.:
( I J u p o n J a n u a r y 1, 189*. o r u p o n a n y d a y th e r e a f te r ,
upon re s o lu tio n o f th e B oard o f D ire c to rs o f th e R a ilw a y
C o m p a n y , n o t e x c e e d in g $500,000 sh a ll be so p a id o v er.
(> / A f t e r s u c h first p a y m e n t th e r e s h a ll be p a id o v e r to
the R a ilw a y C o m p a n y o u t o f s u c h c a s h f u n d fro m tim e to
tim e such su m s, n o t e x c e e d in g $-500,000 i n a n y o n e p a y m e n t,
a s fro m tim e to tim e s h a ll be on h a n d a n d s h a ll b e sp ecified
In s im ila r re s o lu tio n s ; b u t in e v e ry i n s ta n c e , b e fo re p a y in g
o v e r a n y su m u n d e r th is S e c tio n th e T ru s te e s h a ll re q u ire
th e R a ilw a y C o m p a n y to f u r n is h , in a d d itio n to su c h re so lu ­
tio n o f th e B o a rd , a v e rified c e r tif ic a te s im ila r to t h a t
re q u ire d in th e c a se o f th e $3.5,000,00 ' b o n d s issu a b le fo r like
p u rp o se s u n d e r S e c tio n 4, A r tic le 1, s t a ti n g fu ll p a r tic u la r s
a s to t h e a p p lic a tio n o f th e $500,000 la s t re c e iv e d , a n d sh o w ­
in g t h a t i t w a s p ro jie rly e m p lo y e '! in a c c o rd a n c e w ith th e
p r o r i s i o r s o f th is a r tic le . [T h e p ro v isio n s a re s u b s ta n tia lly
th e s a m e a s in A rtic le 1, S e c tio n 4.]

iol r

m oneys in the said sinking fund not derived from the sale of lands
oovered thereby.
S e c o n d .— Any surplus remaining after reimbursing the Railway
Company as aforesaid shall be regarded as surplus moneys arising
from the sale of lands ooyered by this indenture, and shall be added to
and treated as part of the net moneys mentioned in this Article.

ARTICLE NINE.
TRUSTEE MUST BE INDEM NIFIED.
S e c . 1. The Trustee shall not be under any obligation
to take any action hereunder likely to involve expense un­
less the holders of the bonds hereby secured shall furnish it
reasonable indemnity.
TRU8TEE MAY BE REMOVED BY HOLDERS OF 75 PER CENT
IN AMOUNT OF THE BONDS.
S e c . 3. The Trustee may be removed at any time by an in­

strum ent in writing signed by three-quarters in amount of
the holders of the bonds then outstanding.
APPOINTMENT OF NEW TRUSTEE.

Sec. 3. A new Trustee may be appointed by the holders of
a m ajority in amount of the bonds hereby secured and then
outstanding, by instruments in writing. The Railway Com­
pany, however, may appoint a Trustee to fill such vacancy
until a new Trustee shall be appointed by the bondholders or
as hereinafter authorized. Notice of such appointment by
the Railway Company shall be advertised for six successive
weeks in New York, London and Berlin, and any new
trustee so appointed shall immediately be superseded by a
trustee appointed in the manner above provided by the bond­
holders prior to the expiration of ninety days after such pub­
lication of notice. In case no such appointment shall be
made by the bondholders within ninety days, a new trustee,
to supersede the trustee appointed by the Railway Company,
may be appointed bj any judge of the United States Circuit
Court for tlfe Eighth Circuit or by any court of competent
jurisdiction in the premises upon the application of one.rter in amount of the bondholders. Every such trustee
11 always be a trust company in good standing;, doing
business in the City of New York, and having a capital and
surplus aggregating at least $3,000,000.

r

RIGHT OF SUCCESSOR CORPORATION TO ISSUE BONDS
HEREUNDER.

In case the Railway Company shall be consolidated or
merged with any other corporation or sold subject to this
indenture, the successor corporation upon executing an in­
denture satisfactory to the Trustee, whereby such successor
corporation shall assume the due and punctual payment of
the principal and interest of said bonds and the performance
of all the covenants and conditions of this indenture, shall
be substituted for the Railway Company, party of the first
part hereto, with the same effect as if it had been named
herein as such party of the first part. And such successor
corporation thereupon may issue, either in its own name or
in the name of the Northern Pacific Railway Company, any
or all of such bonds which shall not theretofore have been
delivered subject to all the terms, conditions and restric­
tions herein prescribed.

N O R T H E R N P A C I F I C R A ILWAY C O M P A N Y .
ABSTRACT OF GENERAL LIEN MORTGAGE DATED
NOV. 10, 1896,
SECURING $190,000,000 OF 3 PER CENT GOLD BONDS
DUE 3047, OF WHICH $130,000,000 CAN BE USED
ONLY TO RETIRE THE PRIOR
LIEN BONDS.
PARTIES.
R a il w a y Co m pa n y ,

of Wisconsin,
hereinafter called the “ Railway Company,” party of the
first part, and Th e F a r m e r s ’ L o a n & T r u s t C o m p a n y , of
New York, the “Trustee,” party of the second part.
N orthern

P a c if ic

PRIOR LIEN MORTGAGE BONDS.

the Railway Company lias duly executed to
The Mercantile Trust Company, as Trustee, a certain mort­
gage bearing even date herewith (hereinafter called its
“ Prior Lien Mortgage”), covering all the railroads, franchises,
nJND in a n y o n e c a le n d a r y e a r a c q u ire o r c o n s tr u c t n ew stocks, bonds and other properties hereinafter described, to
p ro p e rty , o r a c q u ire s h a re s in a n y o th e r c o m p a n y , if th e secure certain bonds (hereinafter called “Prior Lien Gold
a m o u n t o f th e m o rtg a g e o r o th e r in d e b te d n e s s th e re o n p rio r bonds”), to be issued to an amount not exceeding $130,000,000 in the aggregate, and said Prior Lien Mortgage is, and at
to th is i n d e n tu r e s h a ll, in th e a g g r e g a te , e x c e e d $500,000.
all times shall be, prior and superior in lien to tins indenture
THESE LIENS SHALL BE PROVIDED FOR WITH CASH
upon all the railroads, franchises, stocks, bonds and other
OR BONDS.
properties now, or at any time hereafter, subject hereto.
In c a s e any property or shares so acquired shall be subject
DESCRIPTION OF GENERAL LIEN BONDS.
to su c h charge o r indebtedness, then all moneys in the c a sh
A n d w h e r e a s , the Directors and Stockholders of the
f u n d , from time t o time, up to the par amount of such
c h a r g e s and indebtedness, shall be set aside to be used only Company have duly authorized this “General Lien Mort­
fo r the retirement of the same. Or the Railway Company gage,” which shall secure an issue of bonds to be called
s h a ll deposit with the Trustee an equal amount o f bonds “ General Lien Railway and Land Grant Gold Bonds,” to be
issued to an amount not exceeding $190,000,000. The prin­
h e re b y secured in order to provide therefor.
cipal of such bonds is to be payable in gold coin of the
APPLICATION Of FUNDS DERIVED FROM PAYMENT BY
United States of America, of the present standard of weight
SINKING FUND OF BONDS HELD BY TRUSTEE.
SEC. 4. W h e n e v e r any of the General First Mortgage bonds ami fineness, at the agency of this Company in the City of
h e ld b y th e T r u s t<••• hereunder shall be called for redemption New York, on the first day of January, 2047, with interest
thereon from the first day of January, 1897, at the rate of 3 per
o u t o f t h e s in k in g fund provided in the mortgage securing
cent per annum, payable in like gold coin, quarterly, at the
s u c h b o n d s, th e Trustee shall a p p ly the sums collected
said office or agency on the first days of February, May,
th e re o n a s follow s:
August and November in each year (the first instalment of
r ia s t. -T im Trustee sliall lurtUwitli return to the Railway Company
*urh portion of tho vim* *» coltooitad a*i shall have booh paM out of interest for four months to be payable on May 1st, 1897).
PROPERTY ACQUIRED WITH CASH FUND IN ANY ONE YEAR
SHALL NOT BE SUBJECT TO LIENS EXCEEDING IN
THE AGGREGATE *300,000.
f S J T h e R a ilw a y C o m p a n y s h a ll n o t b y use of th e cash

W h ereas,

THE CHRONICLE.

1018

Both the principal and interest of said bonds is to be pay­
able without deduction for any tax or taxes imposed by the
United States, or any State or Municipality thereof, which
this Company may be required to pay or to retain there­
from under any present or future law. The coupon bonds
of said issue are to be of the denomination of §500, num­
bered consecutively from D1 upwards, and of §1,000, num­
bered from Mi upwards. The registered bonds are to be of
the denomination of §100 and such multiples of $100 as the
Railway Company may from time to time prescribe by reso­
lution of its Board of Directors, every such bond to bear a
distinctive number or designation (and the registered bonds
of $500 and $1,000 respectively to be numbered consecutively
from D1 and Ml upwards, regardless of the numbering of
registered bonds of other denominations). All such bonds
shall be executed in the name and on behalf of the Railway
Company and under its corporate seal by the President, or
any Vice-President, and the Secretary, or any Assistant
Secretary, of the Railway Company, and shall be substan­
tially of the following tenor, to-wit:
FORM OF COUPON GENERAL LIEN RAILWAY AND LAND GRANT GOLD
BONDS FOR $500 AND $1,000.
N o.
$ ------- .
UNITED STATES OF AMERICA.
XO JtTH EU N P A C IF IC R A I L W A Y CO M P AN Y.
G e n e r a l L ie n R a il w a y a n d L a n d G r a n t G o l d B o n d .
K n o w a l l m en b y t h e s e p r e s e n t s , That N o r t h e r n P a c if ic R a il ­
w a y C o m p a n y , a corporation, hereinafter called the “ R ailw ay Com­

[V ol .

Lxm.

superior to the lien of this mortgage as to any and all prop­
erty now or hereafter subject to the lien hereof.” (See
pages 1013 and 1013.
And the Railway Company covenants that upon the satis­
faction of said Prior Lien Mortgage it will cause all the
bonds, shares of stock, cash and other property then held by
the trustee under said Prior Lien Mortgage to be trans­
ferred and delivered to the Trustee under this indenture,
and will execute and deliver to the Trustee hereunder such
powers of attorney and instruments of assignment and
transfer as the Trustee may reasonably require in order to
vest in it, as Trustee hereunder, the title and possession of
the said bonds, shares and other property; and the Railway
Company hereby irrevocably grants to the Trustee full
power and authority, upon the satisfaction or release of said
Prior Lien Mortgage to demand and receive from the trustee
of said Prior Lien Mortgage all the bonds, stocks, cash, and
other property then held by such trustee, and to give all
necessary receipts and releases therefor.
ARTICLE ONE.
TOTAL ISSUE H EREUNDER LIMITED TO $190,000,000.

S ec. 1. The aggregate amount of the bonds issued and
outstanding under this indenture at any one tim e shall
never exceed the principal sum of $190,000,000.
BONDS FOR $56,000,000 TO BE DELIVERED FORTHWITH.

Sec. 2. Of the bonds authorized, $56,000,000 shall be de­

livered forthwith to J. P. Morgan & Co., the Reorganization

pany,” for value received, prom ises to pay to th e bearer, or, it regis­
tered, to the registered holder of this bond,
Dollars, gold Managers.
ooiu of the United sta tes of Am erica of the present standard of w eight
BONDS FOR $130,000,000 RESERVED TO RETIRE THE PRIOR
and llneness, on the first day of January, in the year 2047, at the
LIEN BONDS.
office or agency of the Railway Company in the City of New York,
Sec. 3. Of the remainder of such authorized issue of bonds
N. Y., ami to pay interest thereon at ih e rate of three per cent per
annum from Jauuarv 1, 1897, payable May 1. 189 , and quarterly there shall be reserved $130,000,000 for the redemption, as
thereafter at said office or agency, in like gold coin, on the ttr-t days hereinafter provided, of the bonds issued and to be issued
of February, May, A ugust and November m each year, but only upon under said Prior Lien mortgage. Such $130,000,000 of bonds
presentation aud surreuder, as they severally mature, of the coupons
therefor annexed and to be annexed hereto. Upon presentation of shall be issued when authorized by resolution of the Board
th is bond on or a.fter January 1,1947, and on or after January 1 ,1 9 9 7 , of Directors of the Railway Company, as follows and not
respectively, the Railway Compauy will attach thereto sheets of cou­ otherwise, viz:
pons representing the in terest instalm ents for the period of nfty
Whenever the Railway Company shall tender any of said
years n ex t ensuing, proper endorsement thereof being m ade on this
bond.
Prior Lien Gold bonds and shall present a certificate of (1) its
Both the principal and interest of this bond arc payable without President or any Vice-President, and (2) its Treasurer or
deduction fo ra u y ta x or ta x es of the United States or any State or
M unicipality thereof whioh the Railway Company may lie required to Comptroller, that such bonds have not been acquired under
Section 3 of Article Eight of said Prior Lien Mortgage of the
pay, or to retain therefrom , under any present or future law.
This bond is one of a series of coupon and registered bonds of the Railway Company, the Trustee hereunder shall receive such
R ailw ay Company known as “ General Lien Railway and Land Grant bonds, and in exchange therefor shall deliver to the Rail­
Gold Bonds,” duly authorised aud approved by the Board of Directors
and stockholders of the R ailway Company, and issued and to he issued way Company $1,000 par value of the said bonds hereby se­
to an am ount not exceeding in the aggregate $190,000,000 at any one cured for each $1,000 of the bonds so surrendered, and'such
tim e outstanding (or which $130,0o0,000 can be used only to retire surrendered bonds shall forthwith be canceled.
the " Prior Lien ” bonds of the RaiLway Company); all of which bonds
Whenever the Railway Company, on or after a date twelve
are issued uuder and in pursuance of, and are equally seourod by, a
m ortgage or deed of trust dated Novem ber 10th, 1896, executed by months prior to the maturity of such outstanding Prior Lien
the Railw ay Company to The Farmers’ Loan & Trust Company, a cor­ Gold bonds, shall tender cash sufficient to purchase or to pay
poration of the State of New York, as Trustee, of all the property and
franchises of the Railway Company m entioned in said m ortgage or the same, or any part thereof, at par, the Trustee shall ap­
deed of trust, to which reference is hereby m ade for a description of ply such cash to the retirement of the Prior Lien bonds, and
the property and franchises mortgaged and the nature and exten t of shall deliver to the Railway Company an equivalent amount
the security, and the rights of the holders of said bonds uuder the at par of the said bonds hereby secured.
same, and tile term s and conditions upon which said bonds are issued
and secured.
THE REM AINING $4,000,000 MAY BE SOLD AFTER JAN. 1, 1897.
This bond may be registered as to principal in the owner's nam e on
Sec. 4. The remainder of the authorized issue hereunder,
the books of the Railway Company at its office or agency in the City of
New York, such registry being noted on the bond by the Company’s amounting to $4,000,000, may be sold after Jan. 1, 1897, on
transfer agent, after which no transfer shall be valid unless made on resolution of the Board of Directors of the Railway Com­
the Company’s hooks by the registered owner, and sim ilarly noted on
tlie bond; but the sam e m ay be discharged from registry bv being pany; provided, there shall be deposited with the Trustee the
transferred to bearer, a.fter which transferability by delivery shall be net proceeds of the sale thereof, as certified by (1) the Chair­
restored; but it may again from tim e to tim e be registered or transfer­ man of the Board of Directors, or President, or any Vicered to bearer as before; such registration, however, shall not affect President and (3) the Treasurer or any Assistant Treasurer,
the negotiability of the coupons by delivery m erely This i ond is also
exchangeable after May 1st, 1897, for registered bonds without cou­ of the Railway Company; and any such proceeds, when re­
pons, as provided in said mortgage or deed of trust.
ceived, shall be added by the Trustee to the c a s h f u n d men­
This bond shall not become obligatory for any purpose until it shall tioned in Section 3 of Article Eight hereof and be treated in
have been authenticated by the certificate hereon endorsed of the
all respects as part thereof.
Trustee under said m ortgage or deed of trust.
IN WITNESS w h e r e o f , the Northern Pacific R ailw ay Company has
REGISTERED BONDS—MUTILATED BONDS.
caused these presents to he signed by its President or one of its
S ec. 5. The provisions respecting registered bonds without
Vice-Presidents, and its corporate seal to be hereunto attixe i, and to
be attested by its Secretary or an Assistant Secretary, and coupons for coupons and the right to issue bonds in places of those mu­
said interest maturing up to January 1st, 1947, with the engraved tilated or destroyed are stated exactly as in the Prior Lien
signature of its Treasurer, to he attached hereunto th is ten th day of Mortgage, Article 1, Section 5. See page 1015.
Novem ber, 1896.
N o r t h e r n P a c if ic R a il w a y C o m p a n y ,

By

ARTICLE TWO.

’
President.

Attest;
Secretary.

FORM OF INTEREST COUPON, OF WHICH T1IE FIRST [FOR FOUR MONTHS’
INTEREST] IS TO BE PAYABLE MAY 1, 1897.

No.
$
On the first day of
,
, Northern Pacific
Railway Company w ill pay to bearer at its office or agency in the City
of New York, N. Y.,
dollars, gold ooin, without deduc­
tion for taxes, being
m ouths’ interest then due on its Gen­
eral Lien Railway and Land Grant Gold Bond No.
Treasurer.
FORM OF TRUSTEE’S CERTIFICATE.
This bond is one of the series of General Lien R ailw ar and Lan
Grant Gold Bonds described in the w ithin m entioned M ortgage c
Deed or Trii*t executed by the Northern Paciiie R ailway Company t
the undersigned.
T i i e F a r m e r s ’ L oan & T r u s t C o m p a n y ,

By

Trustee.

Vice-President.
PROPERTY CONVEYED AS SECURITY.

The property conveyed as security is the same as that con­
veyed and fully described in the Prior Lien Mortgage, an
abstract of which is given above, “ it being the intention
hereof that this mortgage or deed of trust shall at all times
cover all tiie properties which are now, or shall hereafter be,
covered by said Prior Lien Mortgage, and that the lien of
said Prior Lien Mortgage shall at all times be prior and

COVENANTS—NEW COUPON SH EETS—REGISTRATION.
Section 1. Upon presentation of any coupon bond at

its
office or agency in the City of New York, on or after Janu­
ary 1, 1947, and on or after January 1, 1997, respectively, the
Railway Company will cause to be attached to such bond,
without expense to its holder, sheets of coupons representing
the interest instalments for the period of fifty years next
ensuing, proper endorsement being made in each instance
on the respective bonds that such new coupon sheets have
been attached.
S e c t io n s 1 to 10. The remaining provisions of Sections 1 to
10 inclusive of this Article Two are substantially the same as
the provisions of the sections bearing the same numbers
respectively in Article Two of the Prior Lien Mortgage
above, but subject thereto so far as the lien of the two loans
is concerned. See page 1015.
ARTICLE THREE.
PROVISIONS RESPECTING SECURITIES PLEDGED.

S ections 1 and 3 of this article provide that until the re­

lease of the Prior Lien Mortgage all the bonds, coupons,
stocks, claims, indebtedness and other personal property
held by the trustee under said Prior Lien Mortgage shall be
dealt with under the provisions of said Prior Lien Mortgage
as though this indenture had not been made. But when­
ever said Prior Lien Mortgage shall have been released, the
Trustee hereunder is to have possession of all the securities

THE CHRONICLE.

D e c e m b e r 5, 1898.J

1019

theretofore in the possession of the Trustee under the Prior
Lien Mirfcgigs, a u l from th it time on the securities, etc., T HE A M E R I C A N C O T T O N OIL C O M P A N Y .
so pUlg? 1 are to be treatel un ler the provisions of Sections
3 to 9 of this Article precisely as provided in the Sections 1 SEVENTH ANNUAL REPORT—FOR THE FISCAL YEAR
to 7 of Article Three in the Pricr Lien Mortgage above.
ENDING AUGUST 31, 1896.
See page 1015.
ARTICLE FOUR.
The A merican Cotton Oil Company,
DEFAULT. FORECLOSURE, ETC.
Executive Offices, No. 46 Cedar Streetd,
All the provisions of this Article are the same as in the
6 .)
New Y ork, December 3rd, 1896.
Prior Lien Mortgage above, except in so far as it was neces­ To the Stockholders of The American Cotton Oil Company:
sary to modify them in view of the prior rights held by the
The Directors submit herewith their Seventh Annual Re­
Prior Lien bonds. See page 1015.
port and Statement of Accounts for the fiscal year ending
ARTICLE FIVE.
August 31, 1896.
SHARE CAPITAL.

BONDHOLDERS- INSTRUMENTS.

The amount of the Capital Stock, Common and Preferred,
This Article is identical with Article Five of the Prior
issued and outstanding, remains unchanged.
Lien Mortgage. See page 1016.
DEBENTURE BONDS.
ARTICLE SIX.
RELEA8EJOF PROPERTY.

Of the $4,000,000 Debenture Bonds originally issued

This Article is identical with Article Six in the Prior Lien $933,000 have been redeemed and cancelled, leaving out­
standing §3,068,000.
Mortgage. See page 1016.
In conformity with authority given by the Stockholders
ARTICLE SEVEN.
at their last annual meeting, the Directors decided that it
ALTERATION OF CONTRACTS.

was for the best interests of the Company to discontinue the
redemption of Debenture Bonds. It is considered that the
redemption of the Bonds by the payment of ten per cent pre­
mium involves a needless outlay in view of the fact that
they have only four years to run, and it is believed that
LAND GRANT.
more favorable arrangements can be made before or at ma­
1. This section relating to the sale of parcels of turity.

This article is precisely the same as Article Seven of the
Prior Lien Mortgage above. See page 1016.
ARTICLE EIGHT.
S

e c t io n

land from the land grant differs in no material respect from
MANUFACTURING PROPERTIES.
the same section of Article Eight in the Prior Lien Mortgage
All of the properties of the Organization are absolutely
above, except in so far as it is subject thereto.
free from mortgage or other lien, and there are no liabilities
FUND FOR PURCHASE OF GENERAL LIEN BONDS AT
NOT OVER PAR

SEC. 2. As to the net income from sale of lands, the mort­
gage provides that during each calendar year, or within
three months after the expiration thereof, out of one-half of
the net income received in that calendar year an amount
up to, but not exceeding, in the aggregate $500,000, shall be
applied to the purchase of bonds hereby secured at not over
100 per cent of their par value. Such purchases shall be
made whenever $50,000 are available therefor and the bonds
purchased shall be canceled.
If in any calendar year, or within three months after the
expiration of such year, the Trustee shall not be able upon
the terms above prescribed to purchase bonds hereby secured
to an amount sufficient to exhaust the portion of such net
moneys in such year applicable to such purchase (the portion
so applicable not to exceed $500,000 as aforesaid), then such
unapplied balance sliall be applied by the Trustee, in such
manner as the Railway Company and the Trustee
may deem best, in the purchase of securities in which Sav­
ings Banks shall then be authorized under the laws of New
York to invest their funds, such securities to be held by the
Trustee as a port of the trust estate hereunder.
CASH FUND FOR IMPROVEMENTS.

3. One-half of all such net moneys mentioned in Sec­
tions 1 and 2 of this Article received in any calendar year
and such portion of the other one-half received in such year
aa may have been in excessof $500,000, and also, in the cases
hereinbefore indicated, any moneys received by the Trustee
on account of any binds subject to the lien hereof, and any
monevs received by the Trustee as the proceeds of any shares
of stock or clsiins held by the Trustee hereunder upon the
liquidation or dissolution of the company which issued such
stock or is liable upon such claims (but not any interest
which the Railway Company sliall be entitled to receive
under any provision of this indenture), and also the net pro­
ceeds of sales of bonds reserved under Section 1 of Article
One hereof shall be held by the Trustee separate and apart
from all other funds u uler this indenture as a cash fund to
be paid over to the Railway Company, from time to time,
after January 1, 1*97, for the purposes, on the conditions,
and under all the restrictions, stated in Section 3 of Article
Eight in the i’rior Lien Mortgage above. See page 1017.
[It will be noted that so long as the Prior Lien Mortgage
remains outstanding the provisions of Sections 3 and 3
above, in so far as they relate to the land grant, will be in­
operative. On the other h an d .it will also be noted that
under the corresponding provisions of the Prior Lien Mort­
gage above it is stipulated that if, for the fund therein
created for redemption of bonds, the Prior Lien bonds can­
not be purchased at a price not exceeding 110, then the
General Lien bonds secured by this mortgage may be pur­
chased therefor at prices not exceeding par.—E d s .)
ARTICLE NINE.
Sec.

TRUSTEES.

The provisions of this Article are in every respect the same
as tie- provisions of Article Nine of the Prior Lien Mortgage
abor •, the name of the Farmers’ Loan & Trust Co. as Trus­
t e e merely being substituted in place of that of the Mercant Co., the Tiustee under the Prior Lien Mortgage.
ARTICLE TEN, ETC.
The provisions of this Article Ten and of the articles subM M M thereto are si mplv a repetition of the provisions of
iing articles in the Prior Lien Mortgage above,
.1 U p ! - I r ; a p p l y t • a

See page 1017.

!>> HTt 4 .................... a/g .1 d i f f e r e n t t r u s t e e .

on loans oi'for bills payable.
During the year the Permanent Investment Account lias
been increased by the sum of $116,599 80, being cost of addi­
tions to properties less realizations from sales of Real Estate,
Machinery, etc., and the amount written off to cover esti­
mated depreciation of Transportation Equipment.
I he sum of $246,963 11 has been expended in repairs of the
properties, and is included in the expenses of manufacturing
and operation for the year.
Our large factories in the City of St. Louis suffered
damage from the cyclone of May 37th last, The cost of
>f ms
repairing same has been charged to expenses of
manufac­
turing and operation. In view of the large value of the
properties exposed, it is fortunate that the loss sustained
was comparatively small.
The work of equipping the properties with Automatic
Sprinklers. Water Tanks and other appliances for protection
against lire has been continued during the year.
The high insurance standard thus reache i enabled the
organization to obtain insurance at much lower rates than
has been possible heretofore.
PROFIT AND LOSS.

The net profits for the fiscal year, after payment of the
interest on Debenture Bonds ($343,440), amounted to §334,(9910.
Notwithstanding the unprecedented business conditions,
the losses from bad debts during the year amounted to less
than one-fourth of one per cent.
A c tiv e W o r kin g c a p it a l .
Cask in Banks August 3 1 ,1 8 9 6 ............. -...........
- :-•$L §72,822
379.804 00
Bills and Aee;ts Rocotva’le,deducting Current Llabilit’a
Products, Raw Materials and Supplies, all m arketable— 3,581,861 35
Total net amount of Working Capital— ------------...$ 4 ,5 3 4 ,4 8 8 17
STATEMENT OF CAPITALIZATION, LIABILITIES AND ASSETS,
f 1, PITA I 1 7 ATION August 31, 1896.
t Common S w ek ........................................* 2 0 ,2 3 7 .1 5 0 0 0
Preferred Stock............................................. 10,198,600 00
Total Share C apital..................................$30,435,700 00
Debenture B onds.......................................... 3.068,000 00
$33,503,700 0 0
C ur ren t L ia b il it ie s :
B itis P a y a b le ................
None.
Commercial accounts.......................
$459,301 83
Interest accrued upon Debenture
„0
Bonds at 8% per annum to Aug. 31 20,453 33
Dividend accrued upon Preferred
Stock at 6?6 per annum to Aug. 31.
152,979 00
632,734 16
T o ta ls.

$34,136,434 16

A ssets *

Real Estate, Buildings, Machinery,
etc., based on the valuation Aug.
3 1 .1892. with subsequent additions
„ „ „ „ „ „ „ $11,281,964 87
Cash In Banks........................................ *3 a io ’kqs t o
Bills and tccoim ts R eceivable..........
1,012,538 to
Marketable Products. Raw Materials
and Supplies on hand available in
the business........................................... 2,581,861 35
5,167,222 33
Total Quick A s se ts.
Cash valuation of entire property and
assets iu which the American Cot­
ton Oil Company is interested,
without making any allowance
whatever for good-wili, e t c ... .........
Balance representing good-will, con­
tracts, leases, trade marks, patents,
processes, brands and kindred assets
of an established business................
T o ta ls..............................................

$16,449,187 20

17,687,246 96
$34,136,434 16

THE CHRONICLE.

1020

GENERAL PROFIT AND LOPS ACCOUNT OF ALL THE PROPJ
ERTIES AUGUST 31, 1896.
Balance of General Profit and Loss Account
_____ __
A or. 31,1 8 9 5 , as per Sixth Animal Report
$6,184,739 75
P rofits of all the m anufacturing and com­
m ercial business of this Company and of
the Corporations in which it is in t e r e s t e d __
for the year ending Aug. 3 1 ,1 8 9 6 ..............$886,431 32
Deduct :
, ,
E xpense of Adm inistration and Agencies;
Interest on D ebenture Bonds at 8% per
annum; other In terest; D epreciation of
Oil Tank Cars, Steam ship “Aco,” Ao.. and
Dividends paid by Organizations to Minor_
________
ity Holders, for the year en d'gA ug.31,’96. 551,632 22
331, <99 10
$6,519,538 85
Deduct:
Dividends on Preferred S to c k No. 8. Paid Deo. 1 ,1 8 9 5 , 3%..................$305,958 00
No. 9. Paid June 1 ,1 8 9 6 , 3%.................. 305,958 00
Balance of General Profit and Loss Acoount,
Aug. 31, 1 8 9 6 ...................................................

____
611,916 00
$5,907,622 8o

REMARKS.

It is scarcely necessary to remind you that during the
period covered by the foregoing report the business of the
entire country has been subjected to a serious and prolonged
strain. Your Company has not only suffered from the gen­
eral depression but in addition has had to contend with an
unprecedented depreciation in values of its most important
competitive articles.
Early in the fiscal year it became apparent to your Direc­
tors that the question of profits must be subservient to that
of credit and financial stability; and availing themselves of
the opportunity, they created economies in accordance with
existing conditions and minimized the outstanding indebt­
edness. The result has been to establish a substantial saving
in the administration and operating expenses of the Com­
pany, and the Balance Sheet shows not only no Bills Payable,
but a large cash balance available for the requirements of
the Company in beginning the business of the new year.
Your Directors are keenly impressed with the fact that
the inevitable trend of business, affecting all industrial
enterprises, is in the direction of greater volume, closer
margin of profits and increasing competition. In order to
successfully cope with these conditions and hold your Com­
pany’s position in the markets of the world, they have
adopted an energetic policy, and enforced an economical
administration.
The Food Products of the Company are the cheapest of all
commodities used for similar purposes, the demand for them
is broadening, and the tendency in favor of vegetable as
against animal edible fats continues.
While the country has passed through a trying business
period, it is gratifying to be able to report that your com­
pany has continuously enjoyed the highest credit, has
remained financially impregnable, and stands fully equipped
and ready to take advantage of every improvement in the
general business situation.
A change for the better has appeared in the general com­
mercial conditions since the end of the fiscal year covered
by this report, and has already marked an improvement in
the earnings of your Company, giving promise of return­
ing prosperity.
In submitting their Annual Report, your Directors feel
that the outcome of the year’s operations and the main­
tenance of trade, secured in the face of extraordinary busi­
ness conditions prevailing throughout the entire period,
should be satisfactory to the Stockholders.
By order of the Board of Directors.
GEORGE A. MORRISON,
Chairman of the Board.

BALTIMORE &
OHI O S O U T H W E S T E R N
RAILWAY COMPANY.
THIRD ANNUAL REPORT—FOR THE FISCAL YEAR
ENDING JUNE 30TH, 1896.
O f f ic e o f t h e C o m p a n y , )
Ci n c in n a t i, Oh io ,
j

To the Stockholders o f The Baltimore & Ohio Southw stern
Railway Company:
The President and Directors submit the following report
of the results of the operations of this Company for the year
ending June 80th, 1896.
Gross E arnings...................'.........................................................$6,458,395 05
Operating E xpenses, 66-40 per c e n t.................................... 4,288,325 00
N et E arnings ......................................................................$2,170,070 05
M iscellaneous Reoelpts.............................................................
9,598 46
D educt:
Taxes and A ssessm ents.........
R ental of Terminal Property

$2,179,668 51
.$275,131 44
60,000 00

335,131 44

Net Earnings applicable to In terest..............................$1,844,537 07
Interest on Bonds and Equipment Certificates................ 1,780,618 33
N et I ncome................................ ..........................................

$63,888 74

The percentage of cost of operation was 66-40 per cent, in
comparison with 63-53 per cent for the previous year.

[Y o u L x i n .

The reasons for this increased cost of operation are es­
pecially set forth in the report of the Vice-President here­
with submitted.
During the first six months of the fiscal year a drought
prevailed throughout the whole line for several months
which depleted the motive power and greatly increased the
cost of operation for that period. Notwithstanding these
conditions the Company earned $203,397 36 net earnings
over and above fixed charges for the period ending on the
first day of January, 1896.
During the Summer of 1895 the Trunk Lines east of the
Mississippi River organized what is known as the Joint
Traffic Association, being an organization effected to aid in
“ fulfilling the purposes of the Inter-State Commerce Act, to
co-operate with each other and adjacent transportation
associations, to establish and maintain reasonable and just
rates, fares, rules and regulations on State and Inter-State
traffic, to prevent unjust discrimination and to secure the
reduction and concentration of agencies and the introduc
tion of economies in the conduct of freight and passenger
service.”
This Association went into effect on the first day of Jan­
uary, 1896. Unfortunately for this property, several lines
competitive to it did not join the Association, and these
competitors being outside the Association were enabled to
take traffic at rates which were prohibited to this Company,
the result of which was that the increased traffic which this
Company had a right to expect during the last six months of
the year at remunerative rates was not realized, and a sub­
stantial part of the net earnings for the first six months of
the year were lost in the second six months.
The attention of the Board of Managers of the Association
was called to the conditions of this traffic in the Southwest,
not only by this Company but by other Companies operating
in the same territory. The matter is receiving their con­
siderate attention and it is believed that early in the next
fiscal year such determination will be made as will protect
and relieve this Company from these traffic conditions which
have prevailed during a portion of this fiscal year.
The funded debt has been increased by the sale of $560,000
of the First Consolidated Mortgage Bonds for improvements
to the property and for additions to equipment, and the
issue of $154,415 in exchange for old securities, making a
total increase in the amount of First Consolidated Mortgage
Bonds of $714,415. There have been retired during the year,
by exchange, $115,000 of the Cincinnati & Bedford First
Mortgage Bonds and $34,000 of the Ohio & Mississippi First
General Mortgage Bonds.
Substantial improvements were made upon the property
during the year, and the expenditures on this account were
$338,358 53, the details of which are fully set forth in the
report of the Vice-President. The net addition to equipment
account was $93,695 91, covering the cost of fifty hopper cars,
one plow-car, five postal cars and cash payment on account
of sixteen locomotives. The total cost of additions to prop­
erty accounts was $432,054 44, which was paid for from the
proceeds of the First Consolidated Mortgage Bonds sold for
that purpose.
Equipment certificates and lease warrants of the Ohio &
Mississippi to the amount of $114,770 60 were retired and
$193,108 44 was paid on account of new equipment from the
proceeds of bonds sold, and the balance due on these accounts
will be paid as they mature during the next fiscal year from
the same source.
There is available for the betterments and the needs of
this Company $1,666,335 of its first Consolidated Mortgage
Bonds, guaranteed by the Baltimore & Ohio Railroad Com­
pany, and from the sale of which, made from time to
time, the improvements and betterments to the property
are made. From the proceeds of such sales this Com­
pany is assured payment for any advances it may make on
this account.
There is in the Treasury of the Terminal Company $3-10,000
of its First Mortgage Bonds reserved for future needs and
improvements.
The car equipment, motive power, plant and property have
been improved and thoroughly well maintained during the
year, and the respective properties of all classes are in ex­
cellent condition.
In March last Receivers of the Baltimore & Ohio Railroad
Company were appointed, and since that time the properties
of that Company have been operated by them. The obliga­
tions of that Company to yours have not thereby in any
manner been altered or impaired.
It is believed that the improvements contemplated by the
Receivers to that Company's motive power, equipment and
other property will be beneficial to this Company, as it will
enable them to increase the volume of traffic to and from
this territory.
It is hardly necessary to call your attention to the great
commercial depression, commencing since this Company’s
organization, and continuing during its existence, and the
unavoidable and injurious effect upon the traffic of this
Company, as they are so generally known.
It should be most gratifying that notwithstanding all the
difficulties that the management has encountered through­
out, that all its obligations have been promptly met, and its
physical and financial condition and earnings so well
maintained. The results of this fiscal year justify the
belief that when business revives the net earnings of the
Company will substantially improve.

December 5, 1896.]

THE CHRONICLE.

On the 1st of January, 1898, $6,468,000 of the First Mortgage
Bonds of the Ohio & Mississippi Co., this Company’s Missis­
sippi Division, will become due. Arrangements are being
made to provide for taking care of these obligations upon a
basis that will decrease the Company’s future fixed charges
with consequent advantage.
The operations of the Company have been conducted with
marked regularity. Unfortunately several severe casual­
ties occurred which occasioned substantial losses.
Your att-ntion is respectfully called to the report of the
Vice-President and General Manager, and to the Auditor's
statements, herewith submitted, [in the pamphlet] for
information in detail.
The Vice-President and other officials and employes in all
departments are entitled to commendation for their faithful
and efficient services.
By order of the Board of Directors,
EDWARD R. BACON,
President.

102 L

i'he Commercial Ifimes.
COMMERCIAL

EPITOME

Dee. 4, I S 96.
More seasonable weather has been experienced during the
past week and in a few lines of trade it has had a s imulating
influence upon business. Generally, however, trade has been
quiet, awaiting the opening of Congress and the President’s
annual message. Some speculation has been indulged in as to
the probable attitude of the latter toward the Cuban question,
but all reports from diplomatic circles indicate that tne pres­
ent conservative policy will be continued. The President’s
proclamation reimposing tonnage dues on German vessels
entering American ports after January first has caused some­
thing of a stir. It was a retaliatory measure, inasmuch at it
was upon evidence that these privileges have been discon­
tinued to American vessels in German ports that this action
was takeD. A monetary conference was held in Indianapolis
early in the week and it was decided to call a national con­
GENERAL BALANCE SHEET JUNE 30, 1896.
vention of commercial bodies for the purpose of recommend­
ASSXTS.
AMOUNT.
ing to Congress certaia changes in the currency law that will
Coat of R o alam l A ppurtenances.......................... .......... $77,650.483 82 tend to remove finances from politics.
C o n stru ctio n ................................................................................
726,797 52
Following is a comparative statement of leading articles.
Equipm ent O w n e d ............................................................... 2,110,10035
F r id a y N ig h t ,

Equipm ent Leased..................................................................
512,200 00
Securities of Other Com panies................................................
799,775 00
Nov. 1,
Dec. 1,
Dec. 1,
First Income M ortgage Bonds in T reasury ........ ............
361,000 00
1896.
1896.
1895.
Real E state...............................................................................
15,705 25
Cash ou H and..........................................................................
94,345 35 Pork...............
bbls.
8,604
4,811
12,609
Cash with F isral Agents.............................................................
843,74244Lard_____________
toe.
19,257
24,*37
11,803
United State* G overnm ent......................................................
151,07534 Tobacco, dom estic............ bhda.
14,883
14,384
18,546
Traffic Balance due from Other Roads....................................
48,089 77 Tobacco, fo reig n ............. bales.
12,836
10,683
37,794
216,134
Due from Individuals and Companies....................................
268,898 27 Ooffee, R io ............... ........ bags.
235,363
291,033
40,250
Agents Current Balances......................................................
161,861 82 Coffee, other_____ ______ bags.
26,566
91,644
48,593
65.507
Bills Kecelvahle............................................................................
60,30000 Coffee, Java, Ae................mats.
43,981
4,805
3,774
199
Advances to Freight Lines, e tc ...........................................
1 -.917 49 i n g a r ....................................hhds.
772,548
M lseellaneou. ........................................................................
34,755 30 Sugar............. f ............bags, Ao. 2,311,612
1,911.191
None.
None.
215
M aterials and Supplies...............................................................
352,993 04 Molasses, fo reig n ..............bids.
Hides......................................No.
46,1' 0
4 4,800
125,400
183,250
172,266
223.357
T otal........................................................................................ $84,212,040 76 Cotton................................. bales.
Sosln.............................
33,914
33,298
31,718
L iabilities .
Amount.
2,034
2,976
1,710
Spirits
turpentine........
Capital Stock, Preferred.......... ........................................... $20,000,000 00
291
....bbls.
605
1,151
Capital Stock, Common............................................................. 10,000,000 00
....bags.
3,900
8,500
2,500
Rice,
E.
I
..............
.......
Funded D e b t.................
51,830,665 00
4,700
2,800
4,300
Equipm ent T rust Certificate* (O. A M .) ............................
191,000 00 Rice, doinestlo............ __ bags.
None.
None.
None.
Bills Pay i h i e ......................
129,61556 Saltpetre...................... ....bags.
22,000
2,900
22,500
E quipm ent Lease W arrants (O. A M ) ...............
12,923 53 /a te butte....................
None.
2,300
None.
Unpaid Waves, June R olla.eto......................................
236.192 26 Manila hem p................
8.846
28,616
24.381
Accrued Interest on Bonds ...............................................
787,523 34 Sisal bem p.........................bales.
9.583
19,086
5,598
Accrued Interest on Equipment Certificates........................
4,21500
108.800
137,300
81,900
Past* tine Coupons U npaid........ .......................................
28,887 50 Floor................bbls. and sacks.
In tere st on F irst Income Bonds. Series "A ".........................
16,15500 Lard on the spot has decliued and at the concession local
In terest on B. A O. S. W. RR. Income Bonds........................
12,24340
Taxes Accrued but not D u e .....................................................
175,17773refiners have been fair buyers. The close was quiet at 4’10@
Audited Voucher* P a y a b le ......................................................
552,917 05415c for prime Western, 3'02J4@3'75c. for prime City and
Due Individuals and Companie*.......................................
16,45151 4l2C. for refined for the Comment. There was no trading in
Traffic Balances due to Other Roads.................................
75,424 53 the local market for lard futures,but at the West prices declined
Accrued Rentals, Real E s ta te ............................................
4,202 86
Term inal Contract (Unfinished W o rk )..........................
6,213 86 under an increased movement of swine. The close was easy.
Equipment T rust Certificate* Called In ............................*
2,00000
nsTT.T CLOSING PRIORS OP LARD PUTDRIB
Agent*' Draft* for Charges, O utstanding................
25,249 90
Ssi
Mon
Tues. Wed.
lAur. Dri.
Mlacellaneoas...............................................................................
10,51504December...................... e. 4'25 4*32
4'15 4*15 4'20
4'10
Profit and Los* .............
94,467 69
T o u t ................................................................................. *84,212,040 76

—The “ Tramp" compound locomotive of the Richmond
Locomotive Wo’ln has just finished a service test on the
Louis. & Na»h Railway and goes on the Wabash at occe for
experimental ruus between St. Louis and Decatur, which will
be watched with i terest. The Louisville & Nashville Ry.
has made no report yet, but it is understood that the engine
has given perfect satisfaction and showed great fuel economy.
—Speyer ft C>. announce that their offer of a bonus of $5
on each $1,000 first mortgage gold bond of the Central Pacific
Railroad Co., which the company has arranged to have
extended one year from the date of maturity on Jan. 1, 1897,
will be limited to December 10. The bonds must be presented
at the office of Speyer ft Co., 30 Broad Street, for exttnsion
under the notice given by the Central Pacific Railroad Co.
—The current number of the “ E lgineering Migazine” con­
tains an interesting article by Mr. Tnotnis L Greene, of the
Manhattan Trust Cimpany of this city, on the “ Examina­
tion of Corporation Accou Us by Au litors,” a subj ict which
is at preseot attracting much attention.
—Attention is directed to the card of Frederic H. Hatch on
the back cov r of ths Q uotation S upplement. Mr. Hitch
deals in every line of miic-dlaneous securities haying a mar­
ket, and invite* corresp jndenco and inquiries relating to them.
—City of B «‘on 3l£ pQr cent bonds, due 1936, and District
of Columbia 3 63s, due 1934, are offered bv Messrs. Dumc ’mb
ft Jennisoo in an advertisement in the Q uotation S u p p l e
me.nt issued wiih to-day’s Chronicle .
—Mea-ra. Dick Broa. & Co., New York and PliTadelphia,
offer $3 m,©jo city of Biltimore 3 J 4 [ i t cent 1910 bonds, free
from all tax s in the State of Maryland. [See advertisement
in municipal columns.]
—M ssr*. Pfael/. r, Walker & Co., Boston, advertise in
another column for the securities of Boston & Maine, Maine
Central. B *-ton & Lowell and Fitchburg Riilroad-.
—Messrs. R dmond, Kerr & Co.’s December circular will
be found on the l ist page of to - d iy ’s QUOTATION SUPPLEMENT,
—Mr. Charles W. Place. 85 Broad Street, makes a specialty
of St. Louis Vandalta & Terre Haute 1st and 2d 7s.

The market for pork has been quiet, but priceB have been
unchanged and steady, closing at $3 25®$$ 75 for mess. Cut
meals have been quiet but steady. Tallow has declined, ow­
ing to the slowness of the demand. The English markets
have been obtaining their supplies from the Continent. The
close was at 3J.gO. Oleo stearine has declined to 434c Cotton­
seed oil has been quiet and easier, closing at 2 1 3 4 c. for prime
crude and 24 }£ c. for prime yellow.
The cff. rings of coffee from Brazil have been fairly large
and considerable business has been transacted on the basis of
9!4c. for Rio No. 7, c.i.f. The spot market has weakened slightly
closing at 9^c.for Rio No. 7. Mild grades have been quiet and
ea-ier, closing at 16c. for good Cucuta and 23J4@24c. for stand­
ard Java. The trading in the market for contracts has been
quiet, and early in the week there was a decline under the
free offers from Brazil. To-day, however, there was an ad­
vance on an estimated small supply of the Santos crop re­
maining in planters’ hands. The close was steady.
The following were the closing prices:
Deo .................. 9'25o. I March................ 9-35c. IJu n e.................. 9'40o
Jan.......................9'30c. April.................. 9-35c. J u ly .................... „9 ’4.00
F e b .................. 9-350. 1 M a y .................. 9-35o IA u g..................... 9'45o.

Raw sugars have continued in demand and sales have been
made at slightly higher prices closing firm at 3 5-16c. bid for
centrifugals, 96 deg. test, and 2 15-16c. bid for muscovado 89
deg. test. Refined sugars have been advanced J4c. fbr the
soft grades, and at the close demand was moderately active ;
granulated was quoted at 434c.
Kentucky tobacco has been quiet but firmly held. Sales
150 hogsheads. Seed leaf tobacco has been less active but
steadv. Sales for the week were 1,150 cases.
The market for Straits tin has been quiet and prices have
weakened slightly, closing at 12'90c. Ingot copper has been
qu et, without change in prices, closing at 11 25@1150c. for
Lake. Pig lead has been quiet and easier, closiog at 3 -0234«for domestic Spelier has had a moderate call at sieady prices,
closing at 4 25c. for domestic. Pig inn has been in moderate
request and steady, closing at $ll@$l3 for domesii ■.
Refined petroleum has again declined, closing at b 50c. m
bbls., 4c. in bulk and 7'45c. in cases; naphtha dull at 6%c.
Crude ceitificates have beeD neglected, closing nominal at
$1 05. Spirits lurpentine has advanced slightly, closing
steady at 27(327?4c. Rosins have been dull and easier at
$1 80(3$1 85 for common and good strained. Wool has sold
slowly and prices have held steady. Hops have been quiet
and barely steady.

THE CHRONICLE.

1022

|V O L . L X I I I .

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
T h e Movem ent o f
New York, which are prepared for our special use by Messrs.
from the South to-night, is given below. For the week ending Lambert & Barrows, Produce Exchange Building.
this evening the total receipts have reached 265,903 bales,
ON 8HIPBOARD, NOT CLEARED FOR—
against 813,536 bales last week and 315,717 bales the previous
L eaving
week, making the total receipts since the 1st of Sept., 1896,
Dec. 4 at—
Great
Other Coast­
stock.
Total.
8,830,873 bales, against 2,687,551 bales for the same period of
B rita in . France. Foreign wise.
1895, showing an increase since Sept. 1,1896, of 1,133,332 bales.

COTTON.

F r i d a y N i g h t , D e c e m b e r 4 , 1896.
t h e C r o p , as indicated by our telegram*

Receipts at—

Mon.

Sat.

Tues.

Wed.

G a lv esto n ......... 5,052 14,112 4,448 10,630
T ex. City, &o.
263 3,004
New O rlean s... 15,194 23,420 10,038 7,614
M ob ile............... 2,319 1,534 1,588 1,658
182
Savannah ......... 14,038 7,143 7,056 4,388
......
Brunsw’k, &c. . . . . . .
948 . . . . . .
C harleston....... 2,976 3,200 1,139 1,533
Pt. Royal, &o.
.....
......
W ilm ington___ 1,818 1,563 4,210 1,383
..... . . . . . . . . . .
Wash’ton, &o. . . . . . .
Norfolk.............. 6,652 6,602 9,266 2,349

Thurs.
7,337
240
9,172
2,230
4,771
....

2,970

F ri.

Total.

6,226
775
8,669
979
248
5,393
8,134
3,058
7
324
53
2,894

47,805
4,287
74,157
10,308
430
42,789
9,082
14,876
7
10,966
53
30,862

New O rleans...
G alveston.........
Savannah.........
C harleston. . . .
M obile..............
N orfolk............
New York.........
Othbr p orts___

15,456 16,650
12,946 18,491
None. 25.000
None. 17,200
6,300
None.
None. 10.000
86
3,800
None. 16,000

10,789
23,883
5,000
6,400
31.000
23.000
8,900
24.000

Total 1 8 9 6 ... 3 32,972

250
110
2,000
2,500
None.
13,000
None.
None.

43,145
55,430
32.000
26,100
37,300
46.000
12,786
40.000

345,947
128,341
104,403
41,693
18,769
25,862
235,556
66,691

28,488 113,441 17.860 292,761

959,262

Total 1 8 9 5 ... 75,480 36,702 62,284 10,163
Total 1 8 9 4 ... 240,130 41,450 122,043 17.713

184,629
421,336

792,385
766,869

Speculation in cotton for future delivery has continued
quiet, and the fluctuations in prices have been within com­
...
paratively narrow limits. The principal feature affecting
values has been the crop movement. Saturday there was a
3,099
decline of 12 to 15 points in prices, liberal receipts at the
«...«« 1,048 1,171 ports prompting general selling, and the close was easy.
IPport N., &o.
123 ......
7,021 Monday the market was firmer as the receipts showed a de­
New Y ork .........
800 1,274 1,422 1,909 1,616
6,756 creased movement, resulting in a demand from ‘'shorts” to
437
B o s to n ..............
1,460 1,578
968 1,250 1,065
4,625 cover oontracts, and for the day prices showed an ad­
3,638
B altim ore.........
987
......
...
......
......
of 6 to 9 points
Tuesday, however, the
707 vance
124
100
Philadelph’a,<fec
40
128
125
190
market again turned easier in the absence of buying
Tot’ls th is week 4 9 .6 3 4 62,648 43,081 32,355 34,561 43,623 265,902 orders and closed at a decline
of 4 to 5 points,
The foil >wing shows the week's total receipts, the total since Wednesday there was a firmer market. The semi-weekly
Sept. 1, 1896, and the stock to-night, oompared with ast year. statement of interior receipts showed a decreased movement
of the crop and reports from the South stated that the mills
Stock.
1895.
1896.
had perfected their negotiations for some fairly large lines
Receipts to
of ootton. The close was at an advance of 4 to 5 points for
, This Since Sep. This Since Sep.
D e c .l.
1895.
1896.
the day. Thursday the market again turned weaker. The
Week. 1, 1895.
Week. 1, 1896.
absence
of outside speculative interest and the belief that
G a lv esto n ... 47,805 824,251 36,271 522,353 183,771 107,087 the recent decreased movement of the crop was largely the
9,442
T ex. C.,<fee.
41,812
54,267
8,183
4,287
5,791
result of unfavorable weather conditions prompted general
New Orleans 74,157 1,132,147 77,889 871,313 389,092 367,490 selling and prices closed weak at a decline of 12 to 13 points
8,192 104,121
32,208 for the day. To-day the market opened at a decline of 3 to 6
M ob ile.......... 10,305 142,478
56,069
722
31,458
F lo rid a.........
12,870
430
....
points and then further weakened during the day under
82,014 liquidating sales and selling against stop orders, prompted
S avan n ah . . . 42,789 493,297 32,014 431,029 128,403
2,341 by apprehensions of an increased movement of the crop. The
Br’wick, &o 9,082
86,686
9,148
66,647
10,891
C harleston.. 14,876 260,415
9,164 172,982
41,969 close was weak at a decline of 15@16 points for the day.
67,793
P. Royal,&c
32,101
5,620
29,173
. .. .
7
Ootton on the spot has been dull and to-day prices declined
W ilmington. 10,966 176,960 12,131 117,026
37,013 i^c., middling uplands closing at 7 9-l6c.
26,989
Wash’n.&c.
508
79
53
«...
436
The total sales for forward delivery for the week are
N orfolk ........ 30,862 447,701 14,515 136,430
71,862
43,664 916,809 bales. For immediate delivery the total sales foot
W est P oin t..
50
7,923
90,594
9,256 up this week 39,226 bales, including ---- for export, 226
8,349
N’p’t N., &c
346
1,171
8,450
2,962
1,593 for consumption, ---- for speculation and 39,000 on contract.
24,333
7,021
339
N ew Y o rk ...
9,860 248,342 182,662 The following are the official quotations for each day of the
Boston..........
71,310
3,954
40,261
6,756
32,000
27,000 past week—November 28 to December 4.
4,625
B altim ore...
20,189
1,243
12,841
19,729
22,939
ttates on and off middling, as established Nov. 22, 1893,
PhUadel.,&o.
707
14,373
1,655
19,303
5,937
10,286 and revised Dec. 11,1895, by the Revision Committee at which
grades
other than middling may be delivered on contract:
T o ta ls....... 265.902 3,820,873 227,001 2,687,551 1,252,023 977,014
Fair . . . . ....................... o. l q
on. Good Ordinary................o. 1
off.
In order that comparison may be made with other years, we Middling Fair. ................ 78 on. Good M iddling T in g e d ... Even.
Strict
Good
M
iddling.......
q
on.
Striot
M
iddling
S
ta
in
e
d
..
off.
give below the totals at leading ports for six seasons.
lo o d Middling. .............. t 16 on. Middling S tain ed .............. % off.
....

1,668

Receipts at—

1896.

1895

1894.

1893.

G alves’n &o,
w Orleans
M o b ile___ _
S avan n ah ...
Ohas’ton, &o
Wiltn’ton,&o
N o rfo lk .......
W. Point, &.Q.
A ll o th e rs...

52,092
74.157
10.303
42,789
14,883
1L.019
30,862
1,171
28,621

42,062
77,889
8,1.9 2
32,014
14,784
12 ,2 10
14,515
8,274
17.061

77,795
95,910
11,568
41,283
19,064
10,833
31,786
21,236
41,776 ‘

67,427
88,919
13,407
43,295
16,634
12,771
27,380
22,180
19,090

1892.

1891.

59,774
93,436
10,236
30,271
8,073
1 0 ,1 2 1
11,318
8,674
24,007

ItriotL ow M iddling.......
Low M i d d l i n g ............
Striot Good Ordinary___

31(j oil. Striot Low Mid. S ta in e s .. 20320ft.
% off. Low Middling S ta in ed .. . . l q off.
iiig o f f

52,110
On this basis the prices for a few of th» grades would
107,972
1 1 , 68L follows.
UPLANDS.
42,583
S a l. ill Oil T u e » W e d Ik .
15,001
Good Ordinary............................. 671S gJlB 67ls 67.6 67.6
7,430
7°i« 73.6 7°,6 7»,6
20,019 Middling......................................... 7 0 ,6
7 ‘1jb 711.6
Good
Middling..............................
I
1'16 711.6
8
8
8
8
12,15 i
Middling Fair............................... 89,„ 8»,e 89 6 89.6 8 9 ,.
26,466
GULF.
S a t. n o n r u e s W e d T i l .
Tot. this wk. 265,902 227,001 351,451 311.103 255,910 296,504
6,3 g 6 ,510 613.6
Good
Ordinary.............................
6
Since Sept. 1 3820.873 2637,551 4100,467 3304,753 29 *7,436 4001.351 Low M iddling............................... 616IS 79,g
79.6
79,6
7>
Middling........................................
T '516 7 ’3,6 7 5 i6 7 '3 , b
The exports for the wees ending this evening reach a total Good Middling.............................. 716,f
8q
8q
sq
8q
8q
of 159,912 bales, of which 83,369 were to Great Britain. 25,164 Middling Fair........................
813,„ 8' ft aia,„ 811,6 813

to France and 51,409 to the rest of the Continent. Below arc
the exports for the week and since September 1, 1898.
Exports
from—

Week Ending Dec. 4, 1896.
From Sept. 1,1890, to Dec 4. 1896.
Exported to—
Exported to Great
Conti­ Tot it Great
Conti­
Total
Brit’n. France nent. Week. Britain. France nent.

G a lv esto n ....... 27.313 7,587 7,584
T ex . City, & c..
761
New O r lea n s.. 27,341 16,315 14,850
M obile..............
F lo r id a ..........
200
Savannah .......
6,510
Brunsw ick.......
6,983
C h a r lesto n ..
8,169
P o rt R o y a l__
W ilm tnjrton. ..
2,675
N orfolk, A c....
8.292
3,85
New Y ork.......
8.003
462 3,211
B o sto n .......
3.549
B a ltim o re.....
800 3,599
1,7/8
Phtladelp ’a,Ac
180

42,464
781
58,506

200
6,510
6,983
8,16)
2,675
14,1*2
11,67ft
3.549
0,127
180

395,770 101,131
367,622 176,529
49,636
16,709
20,322 15,341
38,613
50,844
30,827
65,9/6
78,932
107,431
8 ,’32
05,3-6
27.128 3,652
3,427

133,837
i.1,890
217,029
6,627
4,122
152,012
3,865
94,785
80.965
13,000
65,800
902
24,430
4,457

030,740
11,890
701.1K)
55,283
20,891
194,775
42,478
145,029
30,827
140,«91
91,932
181,303
00,288
55,210
7,884

STAINED.

S a t.

Low Middling...............................
M iddling........................................
Strict M iddling..................I........
Good Middling Tinged..............

67,s
7®!«
71°.,2
711,6

67,6
7» ik
71°32
7H 1P

73.6
7 7e
87.6
F r i.
61316
77.6
713.6
sq
811,8
F r i.

63.6 6718 6016
7%6
7°16
7 io , ? 1 15, 71*32
711.6 711,6 79,6

MARKET AND SALES.

SPOT MARKET
CLOSED.

Dull.....................
Q u iet..................
4U iet..................
Dull ..................
Dull ...................
Dull at
d e c ...

T otal ...........

83.889 25,164 51,4« 9 159 942 1,325,139 304.787

813 321 2.443,247

otftl, 1896...

8$.365

070,441 1,626,252

Total___ ................................

743,721 208,(-90

6?16
7°l 6
715„,.
7 n 1B

F r i.

The total sales of cotton on the spot and for future delivery
each day during the week are indicated in the following
statement. For the convenience of the reader we also add
i column which shows at a glance how tne market closed on
same days.

Sat’d a y .
Monday.
Tuesday
Wed’day
Th’d ay..
Friday..

28.P8S 107.596 219,9 i9

lTIon T u e s W e d T i l .

be as

SALES OF 8POT AND CONTRACT.

E x­
port.
....

__
....
—

Oon- Spec- Con
su m p uVVn tract.

Tot'~l.

Sales o f
Futures.

42
42
41
54
47

1,6 0 0 1,642
2 9 ,300 2 9 ,342
3,0 0 0 3,041
_ 3 ,1 0 0 3,154
. . . . 2,0 0 0 2 ,0 1 7

1 1 3 ,7 0 0
1 7 1 ,1 0 0
1 3 3 ,5 0 0
1 2 3 ,9 0 0
1 4 1 ,5 0 0
2 3 3 ,1 0 0

22 6

___ 3 9 ,0 0 0 3 9 ,2 2 6

9 1 6 ,8 0 0

CO
•N

©©
„:© © o o o S o o S o o g o
w
© 0 ■»o•>o q o o r e S o o o o o
<®Nt» 05 s f of Iff of COhTof lC o
© H t- H
f- Cl 05
H®

O H

CO

H
.o o O O O O O O O O O O O
rfO O O O O O O O O O O O O
03 ©O o o q q c - i q o o q p ©
2 ,fP00 W-MH© H<D«/f'<# c fH
H o> © W T* H r-CO CDh <M
00 O H
CO
•OO O O O O O O O O O O O
If lo o O O O O O O O O O O O
P O O O O O O C IO O O O O O

.O o O O O O O O O O O O O
a® o O O O O O O O O O O O
qo© ©w q q q q q o

8 5 ° . iCfC-^O
HHO
t> H

ofHiOcfHC0
Cl CO«MH
H

■3 ; ,

q o q o ^ o ifl
O O O O h NCC
w o o o co r>
w iqoafofH Co
H uCO H Cl
t> o HH

rH

1COH J'dfj

■i

5
-H
£
o
pH

oooohco^

O O O o^cnO
W OO© O COCl _ to
^»0© O t>cfH
otO H ,0 r^row ■o *d
•« ‘O o lO
p
©
O OO©WODCC o q>
O O O O C I—'CO I- O
c i o q o © © ao a - d
COHrOiftcfoDH
|<0COO co to lOH [H 3
o co c-i iO
o. a
H
H
• ® <t>© • : • « g
p
! P<Cmo i» ® p** s ©

pq

pi4
O

3d

§1

o 3o § § 2 - 9 3
■**
.*.«.*.«
OO 2“ £*«-***-*.«
OOOOOOO
OOO

o

O O O iflC O tt
O O O O N IO

q o q c i ©_-*
irfirfccfcoH'co
wocu>cococo
h lOCOH
o o o H ic o r^

OOO-i coo
qqoqqw
HOcfbTofH
H^HNMCO
CCiOIO© »C

o o o co crco
O O O Cl —
i CO
qqqoq®
CO*-^00 of co H
t ' CO© »©»©wjl
lONCOCliO

§

SSgggggggg

® 3D00 00 CDCD00 00 COCO

M arket, Prices and
Sales o f
FUTU RES.

^ i So3g3

S-HMaoaDD

3

ooooo
ooooo
OONOO
w cor-Tio©
H CDOO
ooooo
OOOOO

1/5co

H

W :.£K

d v.
!5s|S§. •2K5

s i a®
rt
a-?* §

•SjSwl

|o

IP « « s

g ^ | q 3 3 3 h s © ® a See

o c

•*£§§■3
"a•a ^ ! ! ! i
3 o < Jfi0 D D

a l| s-s|

ai i i M s i f

SS»£e§
D mI / L F

D e ce m b e r.

.3 | Sf

i §~~s

® • ■ • ® t-,
® :®
a

N ovem ber.

.

s'$ a s

M arket ,
Total Sales.

® «Dgo cC^p CD

®a .,3

OONOO

*

*1 s

3 2 ®
M o v e m e n t lo D e c e m b e r 4,
-d
60-2
08,Sa
•S,« 5
R e c e ip ts .
S 'V t J
S h i p m ’ts
T o w n s.
C g >-c
I'M *
S in c e
T h is
® o o
cJ ®
U
^
w ee k . S e p t. 1 /9 6 . w eek.
a | . © oa aj o
5- 5 co
a
rd-S
fl
®
o
C
D
'd e n d 'd 'd 'd
406
12,481
449
A l a b a m a ...
■h d n © E n fa n la ,
§W,S>J 2 8
3,644
9 5 ,431
M o n tg o m e ry
3,501
£ ®o H
05co & > ow m g»
3,2 0 5
Se’-ria,
56,565
3,0
80
CO05
1,940
3 7 ,207
A r k a n sa s..
1,186
coco
<X5 © O ■So-® 'a H e le n a ,
((
L ittle R ook,
3,3 1 5
5 3 ,959
3,2 0 2
................... pd
A lb a n y ,
858
2 7 ,877
837
G e o r g i a . .. .
005
d ©nd'd'd'd ^
“
OO
A th e n s,
44.758
1.027
1,300
jS f ® S ? 2 Jg
■
n©
<<
A tla n ta ,
92,982
9,105
7.0 3 9
V; m* «f
aS ®
»
_
,
S
’rt
oco "■T®.co m
it
co co
® 4 3 -S A u g u sta ,
12,212
210,018 11,696
H —1
It
5 ^ - °
C o lu m b u s,
1,301
34,113
1,349
v Ih n i o
•*
M acon,
CO
492
2,181
52,701
a ©^
g
it
3,615
47,867
3,075
2 | - 3 ° . § 5 g s R om e,
S K ,-d Q 'd 'd 'd 'd
L o u isv ille ,n e t K e n t u c k y .
170
3,2 4 9
126
5 S3 2 „ ^ 3
•= a ^ i 3
S h r e v e p o rt. L o u is i a n a .
0.466
2,651
6 7 ,985
s g««>
■<
CO ^
03 U 2C5 «M S 2 S I C olu m b u s,
M is s is s ip p i.
1,009
2 4 ,712
1,833
<*
G reen v ille,*
3,0 0 0
2,6 0 0
41,203
M erid ian ,
1,2 3 7
2 8 ,517
3,078
0 3 2 N a tch e z ,
«*
2.4G5
2,571
4 6 ,158
«
V
ic
k
sb
u
rg
,
4,3
3
5
3 ,6 3 0
5
5
,894
|s i
it
i ; m h !|
Va zo o C ity ,
916
2.587
4 6 ,1 9 4
Hi
8
t.
L
o
u
is,
M
is s o u r i. ..
3
7
,126
2
7
4
,0
8
0
3
2 ,466
i s & K lIs&
C h a r lo tte ,
7 63
N .C a r o l in a
763
13,964
g
,
l
s
s f i B g 5 a . a . l s p co i3 i> be
“
R alotgli,
625
19,283
627
« g » a C in c in n a ti, O h i o .............. 1 7 ,980 12.1,779 10,016
° .2
£ o >"0
C o lum bia,!
500
8.
C
a r o l in a
20,341
50 0
H Jd S » G re e n w o o d ,
it
♦3 © £5 9 9 S O ij 2
507
11,390
517
S
*
5
|
M
em
p
h
is,
T
e n n e s s e e .. 2 2 ,059
1
2
,465
3
5
7
,9
2
6
©
o
^
o
03
I i g f i j j i 6 U o $ w GO s h g N a sh v ille,
44
3,7 6 5
13,625
3 ,5 9 6
r |
*H
Bre s ham .
T e x a s ............
2,934
3 7 ,5 0 0
3 ,2 8 0
H S?
'“ •be®
« « '*o
- ® ® « & D a lla s,
44
---------3,141
3 7 ,6 5 6
10 ®
3,508
©
© od
it
H o u sto n ,
8
2
5
,0
2
2
5
1
,0
6
7
4
3 ,395
! S S o ® s ◄ k § fc
■©
2 2■d
oS
T o ta l, 3 1 t o w n s ............ 2 03,791 2,81 5 ,4 4 3 174,904
*d © H 'd'd'd

°S°B

14^ 2.. !r*i
m
il
t£3 • ptH «®

« ‘‘r1
<M
-P p p , 3? p 05 1—
* O o * ^ 2 o S Pi O
g ' 2 « * s ,c s
® w
® o
p c8 d t • co 3 ♦*

d & P d d d d i£ c 3 d e e d d

COCO

05to COH H

H

♦2*3 08*242+3-P*3+3-*3+3+3

SS

Oicfcoofnco
O ^ H 05 H Cl

© oq©
o o o o ©Cl
OOCOOO wt>
c fo
oco
H ICO
o o o o o ©«*
o o o o o OCfJ
O O N O O c iq

5 g g lf® S

3

j

, a re

w

08

2
3§

q o © » o t> **

O O O O iC w<o
OOOOON^
^.O .O .O N O .I
H Cl O c^fcoH CO lO 05
lOH t- JOCOco © W tf
UO 00 H '*
Cl o

§w «Sftgg

, r- uu • 0j ^ •

O O O O JO ifl
o o o h c iw

Ja n u a ry.

P R IC E S

F ebruary.

Saturday, N ov. 2 8 —
Lower.
Av’ge.. 7*54 Av’ge.. 7*49 A v 'g e . . 7*59 A v 'g e .. 7*60
Sales, to ta l.............
113,700
600
5,100
3 6 .0 0 0
3.0 0 0
Prtoos
paid
(rauge)
7*44®
7-98
— *» 7*54 7*41 it 7*00 7 * 5 2 -at 7*6 5 7*61® 7*72
fct
Closing...................
Kusy.
7*43- 7*45 7 4 4 - 7*45 7 -5 2 — 7 * 5 3 7 0 0 - 7*61
©
Monday, N o v . 3 0 —
Firmer.
Av’ge..------ Av’ge.. 7*52 A v 'g e .. 7*58 A v 'g e . 7-«5
171,100
0,400
4 3 .8 0 0
4 ,0 0 0
rt ,0
Prices
paid
(range)
7’47®
7*94
— ® — 7*48 3> 7*56 7 * 4 7 ® 7*63 7*50» 7*89
e«
cn >m
Steady.
7*63- 7*54 7 * 6 0 - 7 * 6 1 7*67— 7*88

AND

SALES

M arch.

OF

FUTURES

FOR

EACH

18 9 6 .

jfot>emgtt< lo D e c e m b e r 6 , 1 8 9 5 .
R e c e ip ts.

S to c k

Dec. 4.

T h is
w eek.

3,569
838
26,064
6,729
1,579
11,978
13,699
3 ,1 5 1
8,486
5,465
6,451
4 56
21,572
2,315
7,913
5,639
51,931
7,673
15,032
1,541
15,646
1,631
5,075
3,719
135
631
24,352
5 ,2 8 0
5,122
1,908
11,542
1,700
1,859
1,930
10,008
2,881
2 6 ,242
3,605
21,671
5,355
41,588 1 3 3 ,8 0 0
50 0
1,2 l »
1,200
1,299
9,103
0 ,1 4 0 |
800
......
7U
2 50
155,004
29,4*25
504
1,570
8,0 8 7
1,858
3,339
3,938
5 2 ,7 0 0
4 6 ,992
5 58,918

S in c e
S e p t. 1/95.

13,324
92,600
29,943
3 6 ,332
61,793
2 2 ,512
36,641
6 2 ,452
114.575
37,107
4 1 .630
35,752
2,225
5 6 ,0 -9
19,774
18,980
22,197
31.422
4 3 .0 8 6
35,221
2 97.999
13.106
13,188
85.541
8,979
1 1,945
2 8 2 .5 7 6
9,394
40,567
27.925
63 6 ,3 7 4

^ ? d2 ©
oJ2
|O > p

£ >.Id CD
e !I ft
^ OH
S
d
O i © *q
d
pd C3 ©

ShiinnVts
i:
Stock
T h is
Dec. 6.
w ee k .

587
4,175
949
1,572
4,466
240
1.498
5,561
3,284
706
1,373
3,319
615
3,093
2,381

2,200

2,243
1,923
2,676
2,392
28 695
1 ,°4 4
1,269
9,579
800
671
23.833
1.194
1.900
2 .0 U
38 561

194,230 2 ,2 4 1 ,1 7 4 1 6 5 .6 6 0

3,778
2 3 ,212
6,730
13,430
17,739
7,203
15,762
20.512
4 1 ,333
14,091
8,627
7,804
285
29,455
3.934
5,000
3,504
10,378
18.002
16,875
65,838

>
p- m ce.d
d o * -; P
rj CO ®
©
® « « -g a
18 cS S
O
51— ®

O - -H & .

o

• In ^ ^ © 3
” p © g "2

-

o d 1 &«
, 'S 2 ®
£ *3
® s® ®
„ a5 P
■“
L
.S T5 S £

iJp £© S1 . S 2
^ ®
aa
S£

& L--S
„ S:

© d o GO-H

® ® •“

'o '

II
W

ll8 .S c

Va

g $*z-

d 9 a ®
*■ ■* P
67 £
3 r «t i> a.
i
5 3 2 .6 8 8
r?
rJ -r
a* c. © q
c >,*
p !5 © o -

M O NTH .

B 5 1 £ §

A p r il.

2

a « s
>.
M
o p d
.* w- D o

A v ’g e .. 7*74 A v ’g e ..

5 3 ,8 0 0
7*67® 7*80
7 * 0 7 - 7*08

A v 'g e .. 7*72
'80,100
7 8 3 » 7*78
7 * 7 4 - 7*7S

Tuesday, Doe, 1—
Easier.
Av’ge..------- Av’ge.. 7*55 A v ’ g e .. 7*60 A v’g e .. 7 i!8 A v ’g e . 7*75 A v ’ge. 7*79
Sales, total.............
133,500
1,800
5 0 .1 0 0
3 ,7 0 0 l
6 1 ,8 0 0 ;
60 0
Prices paid (range) 7*51® 7*98 — s — 7*51® 7*00 7 * 5 4 ® 7 69 7*«2iJ> 7*73 7*60ii> 7*82; 7 * 7 7 » 7*81
Closing...................
Quiet.
— — — 7*48— 7*50 7 * 5 5 — 7 *56 7*63 - 7 64 7 * 7 0 - 7*71' 7 * 7 4 - 7*76
Pm P Wednesd’y, Doc. 2 — Firmer. Av’ge..------ Av’ge.. 7*51 A v 'g e .. 7 6 7 A v’g e .. 7*65 A v’ge. 7*73 A v’ge. 7*79
Sales, total.............
1.200 |
123,900
2 8 ,7 0 0 ;
2 ,4 0 0 |
6 5 ,8 0 0
200
Prices paid (range) 7*111* 7*90 -- it —
7*49® 7*63 7*64 ® 7 60 7*63 ® 7*67 7*69® 7*75 7 79® S O Closing...................
Steady.
7*83- 7*54 7*60— - j 7*67— 7*681 7 * 7 4 - 7*75 7 7 0 - 7*80
— — “
3§
Thursday, Dee. 3—
W eak er.
Av’ge.,------- Av’ge. 7*48ilA v'ge. 7*55 A v’ge. 7*60 A v’g e .. 7*70 A v’g e .. 7*78
|a
Bats i, to ta l.............
141,600
1,400
3 8 .0 0 0 !
1,7 0 0
7 1 ,9 0 0 i
1,100
Prices paid (range) 7*46® 7*94 — « — 7*40® 7*51 7 * 4 7 » 7 6 1 7*56® 7*66 7*62® 7 76: 7-73® 7*80
Closing...................
Weak.
— — 7 * 4 0 - 7*42 7 * 4 7 - 7*35— 7*86 7 6 2 - — I 7 * 6 7 - 7 69
< o
F rid a y , Dec. 4—
Lower
A v’g e . . ----- A v’g e .. 7*36 A v ’ g e .. 7 *39 A v’g e ., 7*80 Av’ge.. 7*85 Av’ge.
Hales, total.............
233,100
7 2 .10 0
2 ,6 0 0
1 0 9 ,6 0 0 I
2 ,3 0 0
----------7 .1 0 0
a
P r ic e s p a id (ran g e ) 7*30® 7*70 — 9 —
7*30® 7*41 7 * 3 1 ® 7*48 7*40® 7*54 7 * 4 7 ® 7-flSM 7*82® 7*64
3-S
Closing...................
— — —
W eak.
7 * 2 5 - 7*27 7 * 3 1 - 7*32 7 * 3 9 - 7*40 7 *4 7 — 7*48| 7 * 8 2 - 7 ’8 3
S3

to
X)

03

sca
3
Q

s

a”

T o ta l s a le s th is w eek
A v e ra g e price, w eek

9 1 0 ,9 0 0

S a le s s in c e Sop. 1 ,’06*

1 8 ,4 6 5 ,0 0 0

300
7 ’84

1 8 .5 00
7*49

2 6 8 ,7 0 0

3 7 2 ,0 0 0

2 ,2 7 1 ,7 0 0

6.21,it, 100

7*33

2 1 .0 0 0
7 62

4 4 3 ,0 0 0
7*70

I
|

2 ,8 0 3 .2 0 0

i

9 4 .0 0 0

a
J

j:

a . c.
£ C
S » x
p JB J
*^ *T •*~

a k i,
P a p -7
I 7 £ S
a £ ^ *s
c 3 ^ c

|
lile i=
H a ^ c © t* ^
eC

t£ 2

«

*

THE CHRONICLE.

1024

(^ D O T A T I O N S F O B M I D D L I N G C O T T O N A T O T H E R M A R K E T S . —

B elow a re closing quotations of middling cotton at Southern

and other principal cotton markets for each day of the week.
CLOSING QD >T.VTION8 FOR MIDDLING OOTTON ON—

Week en d in g
Dec. 4.

Mon.

Satu r.

G a lv esto n . .
New Orleans
M o b ile.........
S avan n ah ...
Charleston..
Wilmington.
N o rfo lk .......
B o s to n .........
B a ltim o re. .
Philadelphia
A ugusta.......
Memphis—
St. L ouis__
H o u sto n __
C in cin n ati..
L o u isv ille...

7 >4
7Sl8
71,0
R‘°16
7
718
731S
71 18
75s
7 1“1«
74l
7is
73 6
7°16
7 ifl
7H

Tues.

Thurs,

lb *
7^8
719
7
7
719
714
7 U 1«
75a
71.18
7*4
73i6
7q
7°ia
7*8
7 >4

75,0
7%
7*8
7
7
7*6
7*4
7 1'i«
7«8
7 ‘610

7*18
7 ‘Js
719
7
7
719
7q
7 u ta
7=8
Z
\h«
714
7H .
714
7°18
7%
7 tt

7^16
75,0
71 pi
6 lu10
7
7H
7i4
71*18
75s
7l s ie
73^^ w *4.
73ie
7»,8
75,8
7%
714

F ri.

Wednes.

7*4
7116
6 i 636
7
7
7*4
7 u i«
75g
7 131«
7^10
7*8
7 -ie
7*4
7*8
7*4

719
714
JJie
7*8
7*4

The dosing quotations to-day (Friday) a t other im portant
Southern markets were as follows.
6 7s IE u fa u la ...........
6 7s N a tch ez............
A tla n ta ......... .
C h arlotte.........
7
L ittle Rook___
6*3 R a leig h ............
Columbus, Ga.
6% M ontgom ery...
6% Selm a.................
Shreveport.......
O olumbus.M lss .........! N a sh v ille ...........
7
R eceipts from the P lantations.—The following

7
6 7s
<i13ie

table
indicates the actual movement each week from the plantations.
The figures do not indude overland receipts nor Southern
consumption; they are simply a statem ent of the weekly
movement from the plantations of th a t part of the crop which
finally reaches the market through the outports.
Week
E n d in g —
O c t.
N ov.
“
“
D ec.

8 0 ........
6 ........
1 3 ........
2 0 ........
2 ? ........
4

Receipts a t the P orts. S t'k a t In te rio r Towns. Rec'pts fr o m P la n t’ll*.
1896.

1895.

1894.

1896.

1895.

1894.

1896.

1895.

1894.

€24,737
304,983
289,706
315,71?
313,526
265,902

251,087
197,931
229,749
212,429
199,533
227,001

431,443
396,662
371.462
351.942
365,220
351,451

448,288
461,249
458,286
502,484
530.031
558.918

364,994
415,175
451,026
471.914
494,118
532.688

323.725
371.127
402.219
408.438
443,014
484.023

325.670
317.944
286,741359,915
341,073
294.789

290,507
248,112
265,600
233,317
221,737
265,571

480,903
444,064
402,554
358.161
399,796
392,460

The above statement shows: 1.—That the total receipts
from the plantations since Sept. 1, 1896, are 4,259,197 bales; in
1895 were 3,187,589 bales; in 1894 were 4,537,155 bales.
8.—That although the receipts a t the outports the past week
were 265,952 bales, the aotual movement from plantations wa394,789 bales, the balance going to increase the stocks at
the interior towns. Last year the receipts from the plantations
for the week were 265,571 bales and for 1894 they were
392,460 bales.
Overland Movement

for the

W eek

and

Since S ept . 1.—

We give below a statement showing the overland movement
foi the week and since September 1. As the returns reach us
by telegraph late Friday night it is impossible to enter so
largely into detail as in our regular monthly report, but all
the principal matters of interest are given. This weekly
publication is of course supplementary to the more extended
monthly statements. The results for the week ending Dec. 4
and since Sept. 1 in the last two years are as follows.
1896.
December 4

Since
8ej)t. 1.

Week.

1895.
Week.

Since
Sept. 1

Shipped—
Via Bt. L o u is...............
Via Cairo......................
Via Parker City.........
Via E v a n sv ille............
Via L ou isville.............
Via Cincinnati............
Via other routes, &e.

32,466
12,596
108
393
8,124
5,454
5,417

250,820 28,695
127,553
9,553
7,6UI
80
502
24
69,445
4,195
60,991
6,010
47,923
2,584

249,710
111,401
8,997
24
70,376
30,978
23,322

Total gross overland__
D educt sh ip m en ts—
Overland to N. Y ., Boston, & e..
Betw een Interior to w n s...
Inland, &c., from S ou th ...

64,558

564,835

51,141

499,803

19,109
347
1,257

130,205
1,775
15,818

7,191
9
2,575

82,265
1,862
20,620

Total to he deducted__

20,713

147,798 . 9,775

104,747

Leaving to ta l n et overland*..

43,845

417,037 41,366

395,061

o-aThe foregoingshows th a t the week’s net overland movement
this year has been 43,845 bales, against 41,366 bales for the
week in 1895, and th a t for the season to date the aggregate net
overland exhibits an increase over a year ago of 21,976 bales.
I n S ig h t a n d Spinners*
T akings.

1896.
Week.

Since
Sept. 1.

1895.
Week.

Since
Sept. 1.

R eceipts at ports to Deo. 4 ........... 265,902 3,820,873 227,001 2,687,551
N et overland to Dec. 4 ................... 43,845 417,037 41,366 395,061
Southern consum ption to Dec. 4.. 23,000 273,000 22,000 278,000
Total m ark eted ...........
Interior stocks in ex cess.

332,747 4,510,910 290,367 3,360,612
28,887 438,324 38,570 499,988

Came into sight during week. 361,634
328,937
Total in sight Dec. 4 ..............
4,949,234
3,860*600
North’n spinners tak'gsto Dec. 4 .

79,055

731,920 74,441

743,989

It vvill be seen by the above th a t there has come into sight
during the week 361,834 bales, against 328,937 bales for the
same week of 1895, and th at the increase in amount in sight
Co-night <*»compared with last year is 1,088,634 bales.

[V

ol

.

L X III.

W e a t h e r R e p o r t s b y T e l e g r a p h —Reports by telegraph
to ns to-night indicate that raia has fallen in most districts of
the South during the week, and that at some paints the pre­
cipitation has been heavy. The temperature has in general
been lower interrupting out door work. Picking has been
virtually completed in all but a few districts.
G alveston, Texas. —The temperature this week in Texas has,
as a rule, been from two to twelve degrees below freez­
ing. The severe weather hat stopped almost all farm work.
Some datnige to sugar ciu-i i t reported. We have had rain
on six days during the week, the precipitati m being ninety
hundredths of an inch. The thermometer has averaged 56,
the highest being 79 and the lowest 34. November rainfall,
one inch and ninety-four hundredths.
Palestine, T e x a s.— There has been rain on two days of the
week, the precipita ion reaching forty hundredths of an inch.
Freezing weather, the thermometer has averaged 53, rang­
ing from 24 to 81. Month’s rainfall, oaeinch and sixty-seven
hundredths.
H untsville, Texas.— We have had rain on two days of the
week, the rainfall reaching sixty-five hundredths of an inch.
The thermometer has ranged from 26 to 73, averaging 53.
Rainfall for November one inch and forty-five hundredths.
Dallas, T exas. —This vicinity has this week experienced the
coldest weather on record for November. Tnere has been
rain on one day during the week, the precipitation being
ninety-three hundredths of an inch. Average thermometer
48, highest 76 and lowest 20. Duriog the mouth of Novem­
ber the rainfall reached one inch and five hundred hs.
S a n A n to n io , T exas. —It has rained on one day of the week,
the precipitation reaching one hundredth of an inch. The
thermometer has averaged 51, the highest being 73 and the
lowest 39. November rainfall three hundredths of an inch.
L ulin/j, Texas —We had ice and heavy frost on one day of
the week, generally killing tender vegetation. We have had
ram on one day during the week, to the extent of fifteen
hundredths of an inch. The thermometer has averaged 53,
ranging from 30 to 76. Rainfall for the month of November
one inch and seventeen hundredths.
C olum bia, T exas. — There has been rain on two days of the
past week, the rainfall being fortv-two hundredths of an
inch The thermometer has ranged from 29 to 80. averaging
54. During the month of November the rainfall was four
inches and seventeen hundredths of an inch.
Cuero, T exas. —We have had rain on two days of the week,
to the extent of thirty-nine hundredths of an inch. Average
thermometer 52, highest 79 and lowest 25. During November
the rainfall reached seveuty-nine hundredths of an inch.
Srenham , T exas. —Heavy white frost occurred on Wednes­
day morning. We have had very heavy rain on two days
duriug the week, the precipitation bmng two inches and
twenty-nine hundredths of an inch. The thermometer has
averaged 54, the highest being 81 and the lowest 27. Nove nber rainfall four inches and twelve hundredths.
Temple. T exas. —All farm work has been retarded by the
cold weather. There has been rain on one day of the week,
the rainfall reaching fortv-five hundredths of an inch. The
thermomet r has averaged 52, ranging from 24 to 80. Rain­
fall for the month of November seventy hundredths of an
inch.
F o rt W o rth , T exas. —We have had rain on one day of the
week, to the extent of sixty hundredths of an inch. The
thermometer has ranged from 21 to 76, averaging 48 During
the m o D tb of November the rainfall reached sixty hun­
dredths of an inch.
W eatherford, T exas. —There has been rain on one day of
the past week, tli9 rainfall being seven6y-fiva hundredths of
an inch. Average thermometer 48, highest 76 and lowest 29.
November rainfall seventy-five hundredths of an inch.
New Orleans , L o u isia n a . — There has been rain on four days
during the week, the rainfall reaching two inches and fifty
hundredths. The thermometer has averaged 44. During No­
vember the rainfall was two inches and eignty-two hun­
dredths.
Shreveport, L o u isia n a . —It has rained on two days of the
week, with rainfall to the extent of thirty-one hundredths of
an inch. The thermometer has ranged from 25 to 73, aver­
aging 40. November rainfall one inch and eight hundredths.
Colum bus, M ississip p i. —We have had rain on three days
of the past week, the rainfall being four inches and fifty-five
hundredths. Average thermometer 50, highest 74 and lowest
18 November rainfall six inches and eighteen hundredths.
Celand, M ississippi. —The month’s rainfall has been four
inches and twenty-six hundredths.
V icksburg, M ississippi. —We have had rain on two days
during the week to me extent of two inches an 1 two hun­
dredths. The thermometer has averaged 41, ranging from
27 to 79. November rainfall two inches and sixty-seven hun­
dredths.
L ittle R ock, A rk a n sa s. —We have had rain on two days of
the week, the rainfall reaching forty-seven hundredths of an
inch. Toe thermometer has ranged from 21 to 63, averaging
33.
Helena, A rka n sa s. —There has been heavy rain on one day
of the wees, tne precipitation being oae iacn and sixteen
hundredths. Average thermometer 32, highest 52, lowest 21.
November rainfall six inches and eighty-four hundredths.
M em phis, Tennessee.—We nave had rain on two days dur­
ing the week, the precipitation being seven inches aud forty-

THE CHRONICLE.

D ecember 5, 1896.]

seven hundredths. The weather is now clear. The thermo­
meter has averaged 3 H , the highest being 76 a n l the lowest
19-4. November rainfall s vea inches and forty-seven hun­
dredths.
Nashville, lennessee —We have had rain during the week
to the extent of three inches and seventy three hundredths of
an inch The thermometer has averaged 49, ranging from
18 to 73.
Mobile. Alabama. —Yester lay we had freezing weather and
to-day is clear and cold. There ha3 been rain on six days of
the week, the rainfall reaching two inches and eighty-three
hundredths. The thermometer has ranged from 33 to 76,
averaging 46. During the month of November the rainfall
reached two inches and eighty-six hundredths.
Montgomery, Alabama.—There has been frcst on one day.
We have had rain on six days of the past week. Average
thermometer 41.
Madison, Florida.—There has been rain on four days of the
week, the precipitation reaching four inches and thirty hun­
dredths. The thermometer has averaged 45, ranging from
36 to 70.
Savannah, Georgia.—There has been rain on six days dur­
ing the week, the precipitation being five inches and sixty
one hundredths Average thermometer 53, highest 79 and
lowest 31 During the month of November the rainfall
reached two inchra and forty-two hundredths.
Augusta, Georgia. —Telegram not received.
Charleston, South Carolina.—R u n has fallen on ssven
davs of the week, to the extent of four inches and sixtv-ssven
hundredths. Th? thermometer has average 1 53, ringing
from 31 to 77. RUofallfor November o te inch and seventyseven hundredths.
Stateburg, 8outh Carolina.—Telegram not received.
Wilson. North Carolina.— Telegram not received.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at
8 o’clock December 3, 1896, and December 5, 1895.

. . .A b o v e
M e m p h is . . . . . . . . . . . . . . A b o v e
J i M h v i U e ........ ......... . . . A b o v e
S h r e v e p o r t ................ . . . . A b o v e
Vlclu b a r * ..................... . . A b o v e

A le xa n d ria , Egypt,
December 2.
Receipts (oantars*)....
This week......... .........
8ince Sept. 1 ..............

1896.

1895.

1894.

310.000
2,885,000
This
Since
week. Sept. 1.

260,000
2,703,000
This
Since
week. Sept. 1.

250,000
1,913,000
This
Since
week. Sept. 1.

Exports (bales)—
To L iverpool....... .
To Conti nent 1.........

12,000 133,000 9,000 135,000 15.000 1 0 5 .0 0 0
12,000 90,000 10,000 91,000 14.000 1 0 3 .0 0 0

Total Europe.

24,000 223,000 19,000 226,000 29,000 2 08,000

■ a o a n ta r is 9 8 p o u n d s .

t Of which to America in 1896, 7,133 bales; in 1895, 17,086 bales; in
1894, 13,600 bales.
C o t t o n C o n su m p t io n

1896.

Oo. 30
Wov.6
•• 13
“ 20
“ 27
Deo. 4

r

3*4
8 8
26*9
*2 8
7*3

2*6
* 13

d.
d. is.
6^8 ®7** |4
6%
4
6^16*708 4
63* ®7»* 14
6 1 1 ,^ 7 ^ 4
6l*tP®7716!4

C

Dec. 4.

* 2 '2

E xchanges.—The following exchanges have been made 8 sr a n n a h ..
C harleston,,
during the week:
Florida. A c.

a l l P o r t s .— The receipts
and shipment* of cotton at Bombay have been as follows for
the week and year, bringing the figures down to D c. 8
■ o v B .r rucxiit * a s d sh ipn k st s roa rocs vs vs*.

Shipm ents since Sept. 1.
Conti­
Total.
nent.

| Ship m en ts th is week.

Great
Total. B rita in

Tear Great Cant*
B r t fn nent.
1996
1895
1893

Receipts.
Since
This
Week Sept. X.

d.
d.
d.
4^32 67s ® 73a
4173s 678 ®7qi
4193 6% ®738
41SS2 65s ®73a
41's* 6H i6®7i2
4*32 6=8 ®79s

1896.

*0*9

I *26 pd. to exch. 100 Jan. for May.

D e c . 1.

1895.

d. b. d.
5 « 6 101*
5**®6 11
5 ^ 3 6 11
5
10i*
4V&6 10
4 ®6 10

1*8

In d i a C o t t o n M o v e m e n t F eom

to

s.
4
4
4
4
4
4

d. s. d.
6 ®6 10i*
6 ® 6 10i*
5 V6 9
4i*,3 6 8
6 ®6 9
5 ®6 8

d.
42o3£.
42333
48,6
4 i t ie
4916

S e a I s l a n d C o t t o n M o v e m e n t . —We have received thi&
(Friday) evening by telegraph from the various ports th e
details of the Sea Island cotton movement for the week, The

Dec. 5 , '9ft
Feet.

i *25 pd. toexch. 2,200 Jan. for May.
I 1 *»p<l. to exch 9,500 Jaa. for Mch.
I *24 pd. toexch. l.OijO Jan . for May.
| *21 pd. to exoh. 100 Dee. for deli.
•16 pd. to exch. 7u0 fan. for Mch.
1*15 pd.toaxcb. 200 Dso for Feb.
[ 1 5 pd. to exch. 400 Jan. for Mch.

O v e r l a n d Mo v e m e n t

8*4 lbs. Shirt­ OotVn
8*4 lbs. S h irt­ OotVn
32* Oop. ings, common Mid. 32* Oop. ings, common M id.
Twist.
JJplds Twist.
to fin est.
JJplds
to finest.

• B e lo v sero of K&utev.

'26 pd. to e tc h . 1,900 Nt>v. for Apr.
*08 p i, to exeb. 1 0 0 Dec. for J«*n.
•08 p«L to e tc h . 50*) J t o for Feb.
•07 pd. to exch. 4.700 De& for Jan .
*10 pd. toflieb. 2,0o0 Hcl» for
*31 pd. to exch. lOO Dec. for Sf»jr.
*30 pd. to exch 1"0 Doe. for M *y.
k'j i pd. to exch. 100
1 0 0 Dec. fo
for Met)
§23

and

—In our editorial columns to-lay will be found our usual
overland movement report brought dowa to December 1.
Ma n c h e s t e r M a r k e t . — Our report received by cable
to night from Manchester states that the market is firm for
yarns and steady for siiirtings. The demind for home trade
is improving We give the prices for to-day below and leave
those fir previous weeks of this and last year for comparison

Dec. 3 , '9 6 .
Feet.
x e ro o f g a u g e -,
* e r o o f g a n i;6 .[
x e ro o f ifa u ir e .1
mjto o f g a u g e .
z e ro o f g a u g e . i

New O r le a n s ___ . . . .

1025

.........
Total...............

1895.

Stock

This
Since
This
Since
week. Sept. 1. week. Sept. 1. 1896. 1895.
6,146 51,257 4,509
519
847
7,971
230
681
1,840

48,330 25,432 13,144
6,306 5,713 1,996
2,671 1,226 2,673

61,068

57,307 32,371 17,813

6,895

6,037

The exports for the week ending this evening reach a total
of 297 hales, of which 135 bales were to Ores. Britain, 162
to France and — to Reval, and the amount forwarded to
Northern mills has been 1,024 bales. Below are the exports
for the week and since September 1 in 1896 and 1895.
E xp o rt,
fr o m —
S’vann’h, &c
Oharl’t’n.Ao
Florida, &o.
New York..
B oston ........
B altim ore..

Week E n d in g Dec. 4.

Since Sept. 1 ,1 8 9 6 . North*n M ill

_ ,
Since
Great Fr’nce
Oreat Fr’nce _
Total. Week. se p tA .
B rit’n. Ac. TotaL BriVn. dc.
8,019
1,339

2,576 10,595
1,339

794 10,262
533
1,840

‘230

162
297 5,139 1,745 6,884
135
80
80
76.000 26,000 153,000
1,000; 75.000
102
“ i ‘02
86.000 59,0001 287,OOU
2.000 91.000
5.000 19,000
24.000 13,000
60,000
162
297 14,577 4,423 19,000 1,024 12,635
Total. .
135
82.OOOi23.OOOj 144,000
ljoOO 16,000 17.0<Ki 7.000 75.000
607
1,281
18,564 4,052 22,616 3,439 17,283
Shipm
ent,
wince
Sept.
1
674
Total
1895.
S h ip m en t, f o r the wte k .
A
considerable
portion
of
the
Sea Island cotton shipped to
Great
Conti­
Great
Total.
foreign ports goes via New York, and some small amounts via
B rita in . Continent. Totai
BrUatn. nent.
......... 5 000 5,000
1,000 19,000 20,000

0 ile n ttv 1896........
1895.........
If vdra*—
1 8 9 9 .........

1895____
AM other*—
1896........
1895....... .

2*000
i'o o o

T >tal a l l -

1896........
1895.........

3.000

7.000
5.000

9.000
9.000

1,000

i ’.QOn

2,000
4.000

1,000

3.000

9.000
14.000

10.000
11.000

19.000
25.000

2,000

2.000
1,000

10.000
14,000

27.000
21.000

37,00<
35.000

2,000
2,000

2.000
5,000

21,000
32,000 1

44,000
37,000

65,090
69,0 0

T h e a b o v e t o t a ls io r m e w e e s

sukw

vuau

~

------

the port* other than Bombay is 3,000 bales fes* than thesam
week last year. For the whole of India, therefore, the total
shipment* since September 1, 1896, and for the corresponding
periods of the two previous years, are as follows.
a t ports
S h ip m en ts
to a it Burope
fro m —

Borohar.......

AUother port*

to

grraops

Total . —

INDIA.

_______
1894.

Since
Sept. 1.

Thi.

Since
Sept. 1.

Since

This
week.

5,000
2,000

76.000
65.000

20,000
5,000

80.000
69,000

2.000

24.000
56.000

7 000

141,000

25,000

155.0001

2,000

30,000

Thu

1

Week. \ Sept.

|

pro * all

1895.

1896.

1.

m ek.

R eceipts and SHiPMBNTS.-Through aironge
oaent* we have made w ith Messrs. Davies, Benachi & Co., ot
Liverpool and Alexandria, we now receive a weekly cable <r
the m o v e m e n ts of cotton a t Alexandria, Egypt. The following
are the receipte and shipm ents for the past week and for tl. t
corresponding week of th e previous two years
A l e x a n d r ia

Boston and Baltimore. Instead of including this cotton for
the week in which it leaves the Southern outports, we follow
the same plan as in our regular table of including it when
actually exported from New York, &c. The details of the
shipmcLU of Sea Island cotton for the week will be found
under the head “ Shipping News,” on a subsequent page,
Quotation-. Dec, 4 at Savannah, for Floridas, common,
10c.; medium fine, \Z%c.; choice, 16^c.
Charleston, Carolinas, medium fine, 19c ; fine, 2 .c .; fully
fine, 23@24c.
J u t e B u t t s , B a g g in g , & c . —The demand for jute bagging
has been very light during the week, and trade for this season
seems nearly over. Quotations are unchanged at 5%c. for
1 -v lbs., 5tkc. for 2 lbs. and 6c. for standard grades in a job­
bing wav. Car-load lots of standard brands are quoted at
5 1 -c. for
lbs., 5 J^c. for 2 lbs.and 6c. for 2]^ lbs. t. o. b. at
New York. Jute butts have been quiet at 1 3-32c. for paper
quality l?4c. for mixing and 2c. nominal for spinning butts,
all to arrive. From Messrs. Ira A. Kip & Co.’s circular we
learn that the deliveries of jute butts and rejections at New
York and Boston during November were m l against m l for
the same month last year, and for the eleven months the
deliveries reached 311,136 bales, against 411,373 bales in 1895.
The aggregate stock in the hands of importers and specula­
tors at New York and Boston on November 30 was m l against
2,300 at the corresponding date in 1895 and the amount afloat
to r the Uniied States reaches 59,728 hales, against 167,68-.
bales last year.
j
“ E g y p t ia n C o tton C r o p .— The following rep ort on the
cotton crop in Egypt was issued by the Alexandria Genera
Produce Association under date of October 31:
Baa. —■ -

THE CHRONICLE

1026

The temperature in Ootober continued to be favorable to the oottou

Nevertheless there were oo nplaints in som e of the northern
Slants.
istriots of the Delta of fogs and. the coolness of the nights, whloh did

•some harm, especially to the backward bolls The first p ick in g has
for some tim e now been all gathered. The second is w ell advanced in
some parts or districts, and finished in others.- The resu lt is sa tis­
factory, and a little superior to that of 1895, excep t in some parts of
the north of Lower Egypt, where it is reported that the crop is sligh tly
less or only ju st about oqu (1 to last year. The yield in ginning con
tinues to be irregular and less than in 1895. Our inform ation from
Upper Egypt and the Fayoum is less favorable than at the tim e of our
last resume. Tbe crop, how ever, will be larger than la9t year, because
of the greater acreage sown. Generally s p e ik iig the crop is a good
one, and we estim ate it at about 5,500,000 cantars.

E ast I ndia Crop.—The following is from Messrs. Gaddum
& Co.’s cotton report dated Bombay, Oct 31:
Fine w eather prevails throughout the entire cotton region, and
picking has in coosequeuoe been energetically carried on. A faw bun-,
dred bales of new cotton from the Bengal, Khandei.-sh and Berar dis.
tricts have already reached onr market, and tbe quality seem s excel
lent. It is expected that receipts will begin to iocreasc rapidly when
once the holidays at the beginning of Novem ber, which mark the
Hindoo New Year, arc over. Good rain has fallen in the TinQivelly
districts, enabling the farmers to com plete their sow ing operations
sa tisfa cto rily Little business has been put through here, but tbe
market rem ains firm with an upward tendency, while the sm all lots of
new cotton ottering m eet with a ready sale.
T h f F o l l o w in g a r e t h e g r o s s r e c e i p t s o f C o t t o n at
NawYork, Boston, Philadelphia and B altim ore for th e paet
week, and since September 1, 1896.
BOSTON.

N lW Y OR K.
Receipts
from —

T h is
S in c e
w eek. B t p t . l .

4,555
N . Orleans...
5,583
T e x a s ...........
S avann ’b &c 10,82 i
M o b ile .........
230
F lorid a.........
So. Carolina 4,044
*-i,2l3
N o. Carolina
V ir g in ia .... 17,627
N orth, ports
7,021
T en n ., &c...
50
Foreign ........
T o ta l.........

51,175

53,969
93,792
135,854
1,955
65,000
12,156
119,347

PHILADRLPH’A

S in ce
S e p t. 1.

T h is
week.

....

44.616

435

........

4,588

.....

2,241

53,663
32,746
64,554
4,204

.........
1,869

508,154 19,073

199,813

1,809

29,024

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

.....

71

7,812

42,915

13,666

2,913

15,561

18,303 12,996

86,503

.....

l x iii.

Total bales.

G il v r s t o n - T o L iv e rp o o l, p e r s te a m e rs A ra ra , 1 1 ,1 7 5 ........
P ly m p tm , 8 ,0 0 4 .....................
To H a v re , p e r s te a m e rs A ld w o rth . 9 ,0 2 5 ___C ayo B la n d ),
8 ,7 8 6 . . . . . . ............
To B rem en, p e r s te a m e rs C ap e C o lc n a a . 4 , 5 4 4 .. ..C r e f c l i,
0 .9 2 5 .....................................
To H a m b u rg , n o r s te a m e r P o w d e rh a m , 1 0 0 ........ .
... .....
P e n sa c o l a —T o L iverpool, p e r s te a m e r S e rr a , 4 .8 6 7 .................
S a v a n n a h —T o L iv erp o o l, p e r s te a m e r B a ro n I n n e r d a le , 7 ,0 2 7
u n la n d a n d 3 ,7 3 s S ea I d a n d ....................................................
To H a v re , p e r s te a m e r Ix la , 5 ,4 5 0 ...................................................
To B re m e n , p ^ r s te a m e r O rm sb y , 8 ,8 7 9 ........................................
To H a m b u rg , p e r s te a m e r H o rs a , 5 ,7 0 0 u p la n d a n d 1 0 0 S e a
I s la n d .......................................
C h a r l e s t o n — To L iv e rp o o l, p e r s te a m e rs H a th o r , 7 ,3 0 1 u p la n d
a n d 4 93 S ea I s l a n d ....K a r o o n , 5 ,2 3 1 u p la n d a n d 132 S ea
I d a n d ....... ................. . . ................ ..........................................................
To B arce lo n a , p e r s te a m e r G len w ood. 5 ,3 7 3 .................................
W il m in g t o n —T o L iv erp o o l, p e r s te a m e r J a n e t a , 1 1 , 3 9 6 ............
To B re m e n , p e r s te a m e rs C o rin th ia , 3 , 8 6 0 . . . . . S h e e r^ e s s ,
6 .9 3 0 ................................................
N o r f o l k —To L iv erp o o l, Ortr s te a m e r B re c o n s h ire , 6 ,0 3 5 ........ .
Co B re m e n , p e r s te a m e r M aple B ra n c h , 7 . 3 0 0 . . ........................
N e w p o r t N e w s —To L iv e rp o o l, p e r s te a m e r R a p p a h a n n o c k . 7 9 6
iviHTON—To L iv ero o o l, p e r s te a m e rs C e s tria n , 7 ,8 9 8 .. . . C o r i n ­
th ia , 6 49 ...S a c h e m , 44 3 ..V ic to r ia n , 5 ,5 4 9 ........................
To Y a rm o u th , p e ■s te a m e r B o sto n , 2 3 8 ..........................................
B a l t im o r e —T o L o n d o n , p e r s te a m e r L o rd E rn e . 3 0 0 .................
To R o tte rd a m , p e r s te a m e rs D e lan o , 2 0 0 ___O h io . 68 4 ..........
P h il a d e l p h ia —To L iv e rp o o l, p e r s te a m e r I n d ia n a , 3 4 2______

1 9 ,1 7 9
1 8 ,4 1 1
1 1 ,4 6 9
100
4 ,8 6 7
1 0 ,7 6 5
5 ,4 5 0
8 ,3 7 9
5 ,8 0 0
1 3 ,165
5 ,3 7 3
1 1 ,3 9 6
1 0 ,8 4 0
6 ,0 3 5
7 ,3 0 0
796
14,539
238
300
8 84
342

T o ta l......................... ..........................................................................2 4 4 ,5 5 9

The particulars of these shipments, arranged in our usual
form, are as follows.

Smc*
Sept. .

.....

......
3,200
425
7,760
1,315

24,333
1,248

B a l t im o r e .

T h is
Sin ce
S e p t. 1. u teel.

.....

........

6,373

....
....

T h it
w eek.

|VOL.

New York.
N. Orleans.
Galveston..
Pensacola.
Savaim an..
Cnarleston.
Wllmingt’n
N o rfo lk ....
N’p’t News
Boston. . . .
Baltimore..
PhiladePa..

L iv e r­
pool.
4,732
36,438
19.179
4,867
10,765
13,165
11,396
6,035
796
14,539
300
342

T o ta l....1 2 2 ,5 5 4

Other
Other
N. Scotia
Great
Qer- North South A West
B riV n. Havre, m a n y.E u ro p .Europe. In d ies. Total.
3.27 L
462 .........
945 2.264
2 11,676
5,400 9.800 10,273 1,969 13,375 ......... 77,255
.........18,411 11,569
49,159
4,867
5,450 14,179
30,394
5,3*73 .111“ 18.538
. . . . . . . . . . . . 10^8V6
22,236
....................... 7,300
13,335
796
14,777
1,184
342
8 ,6 7 1 3 4 ,1 2 3 54,161

3,793 21,012

240 244,559

Below we add the clearances this week of vessels carrying
55,587
21,331 5,597
Last y ea r .... 21,*15 382,153 19,151 193,109 1,264
cotton from United States ports, bringing our data down to
The E xports of Cotton from New York this week show a the latest dates:
decrease compared with last week, the total reaching 11,676 G a l v e s t o n — To L iveroool-N ov. 2 5 -S team er O&tersponl, 7 ,3 0 2 .......
Dec. 1—Steamer Bentala, 7 ,7 0 3 ....... Dec. 3—Steamer H olyw ell,
biles, against 14,110 bales last week. Below we give our \
usual table, showing the exports of cotton from New York, I To8,114.
Manchester—Nov. 25—Steamer Lynrowan, 4,194.
and the iirection, for each of the last four weeks; also the j To H avre—Nov. 39—Steamer Phoebe, 7,587.
To
3 —Steamer Tronto, 5,800.
total exports and direction since Sept. 1,1896, and in the last j To Bremen—Dec.
Hamburg—Nov. 25 -S ta in e r Pemoridge, 598 ___Nov. 2 7 column the total for the same period of the previous year.
j
Steamer Polaria, 50 ..D eo. 1 —Steamer Sled mere. 1,116.
BXPORTS O r OOTTON (B ALES) FROM HBW YORK SINCE SEPT. 1 . 1 8 ° 6 .

Week S tid in g E xported to—
L iv erp o o l....................
Other British ports..

Nov.
13.

Nov.
20

Dec.
4.

3,872 2,574 6,961 4,732
6,547 6,180
100 3,271

T ot . to Gt . B rit ’s . 10,419 8,754
H avre...........................
Other French p orts..

Nov.
27.

Total
since
Sept. 1.

Same
period
previous
year

73,393
34,038

71,278
17,920

7,061

8,003

107,;431

89,198

462
.........
462

8,132

9,347

636

1,039
.........
1,039

8,132

9,347

850
200
681

795 .........
1.515; ____
1,866
945

17,126
5,065
12^357

26,130
8,808
18,503

686
.........

T otal F rench ___

1,266
.........
1,266

Other ports.................

1,978
'550
500

T ot . to No. E urope 3,028

1,731

945

31,543

53,441

617 2,134 2,264
2
......... .........
617 2,134 2,266

30,738
514

13,321
705

31,252

14,026

Grand T otal . . . . 19,840 11.788 14,410 11.676

131.363

163,012

Spain. Italy, &c.........
All o th e r.....................
Total S pain , &c ..

5,127
.........
5,127

4,176

S h i p p i n g N e w s , —The exports of cotton from the United
States the past week, as per latest m a il returns, have reached
244,559 bales. So far as the Southern ports are concerned these
are the same exports reported by telegraph and published in
the C h r o n ic l e last Friday. W ith regard to New York we
include the manifests of all vessels cleared up to Thursday.
Total bales.
N ew Y ork —T<* Liverpool, per steam ers Nomadic, 2 ,6 4 8 __ St.
Irene, 2.084 .................................
................................... 4,732
To London, per steamer Megantic, 1 ,1 4 5 ....................... .........
1,145
To Manchester, per steamer* Bellarden, l.O ou__ Maskeiyne, 991 upland and 135 Sea Inland........... ... . .................. 2,126
To Havre, per steamer La Gaacjgne, 300 upland and 162
Sea Island ............................................ ......................... . .............
462
To Antwerp, per steamers British Kiag, 4 0 3 __ Westernland. 512 . . . ... ............................................................ ...............
945
To Lisbon, per steamer Dona Maria, 80 )..................... ...........
800
To Bare dona, p r steamer Massilie, 250..................... . ...........
250
To Genoa, per steamers Italia. 734 ...P a w n e e , 430 ............. 1,214
To Martinique, per steamer Caribbse, 2 ....... .........................
2
■New Orleans —T o Liverpool, per steam ers Alava, 3 ,8 3 0 ....
Barbadian, 7,110 ...M agician, 1 3 ,0 0 0 ._ ..9 iro n a ,8 ,2 9 8 ....
Texan. 4,200 ............................ ........................... ......................... 36,438
To Manchester, per steamer Ohattield. 5 ,4 0 0 ................
5,400
To Havre, per steamer Benrath. 9 ,3 0 0 ......... . . . .....
9,300
To Bremen, per steamer Drumelzler, 7,233. . . . ..................... 7,283
To Hamburg, per steamers Aseanla, L.190 ...B ard en Tower,
1.800
............................ ..................... ................................. 2,990
To C >peuliagcn, per steamer Nhnlal It., 1,969......................... 1,969
To Barcelona, per steamer Martin Saenz. 5 ,1 1 6 ..-------- - . . .
5,116
To Cenoa, per steamers Istrla, 2.716 ...M artin Saenz, 2,033 4,749
To Venice, per steamer Istria, 70 »...............
700
To Trieste, per steam u* Istria, 2,810. .......
2,310

N ew O r l e a n s —To Liverpool—N o v . z7—Steamers Gaditano. 4,521;
Traveller, 6 ,2 0 0 ....D e c . 3—Steamer West Indian, 3 ,4 1 0 ....D e c . 4
—Steamer Cabral, 7,524.
To Hull—Nov. 28 -steam er Resemorran, 1.775.
To B elfast—Dec. 4 —Steamer 1'orr Head, 3,911.
To H avre—Nov. 3 °—Steamer I«»trar, 12,676.
To Bremen—Deo. 4 —Steamer British Trader, 9,768.
To Dunkirk—Nov. 2 8 -Steam er Euskaro, 3,639.
To Hamburg—Nov. 2 3—Steamer Galicia, 1,000.
To Genoa—Nov. 28—Steamer Bolivia. 4,982.
S a v a n n a h — To Genoa—Nov. 30—Steamer B etty, 4,400.
To Trieste—Nov. 3 0 - Steamer Betty, 1,410.
To Venice—Nov. 30—Steamer B etty, 700.
B r u n s w i c k — To Liverpool—Nov. 3 0 —Steamer St. Marnock, 6,963.
C h a r l e s t o n — To B rem en -N ov. 28—Steamer Bede, 8,16~».
W i l m i n g t o n — To G hent—Dec. 1 —Steamer Xaranja, 2,675.
N o r f o l k — To Liverpool—Deo. 1—Steamer H axby, 8,292.
To Bremen—Deo. 1—Steamer Tyr. 3,800.
To Hamburg—Nov. 27—Steamer Burgem eister Petersen, 50.
B o s t o n —To Liverpool—Nov. 27—Steamers Pavonia, 190; Scotsman
4 6 1 ....D eo . 1—Steamers Michigan, 1,392; Philadelphian, 1,506.
B a l t i m o r e — To Liverpool—Nov. 28—Steamer Ikbal, 1,728.
To H avre—N »v. 3 0 -S team er Deptford. 800.
To Bremen—Nov. 2 8 —Steamer Aachen, 2,999.
To Hamburg—Nov. 28—Steamer Andalusia, 300.
To Rotterdam —Nov. 2 7 —Steamer Durango. 390.
P h i l a d e l p h i a —To Liverpool—Nov. 2 7—Steamer Rhynland, 130.

Below we give all news received to date of disasters to
vessels carrying cotton from United States ports, &c.:
P o w d e r ii a m , steamer (8r.), Prout, which sailed fro m G alveston,
Nov. 24, for Hamburg, with 100 bales of cotton, &o., returned to
Galveston N j v . 29, with 12 feet of wtner in her hold. On the 26th,
when about 2 50 mile3 from port, she w as struck by three heavy
seas, which tore oil the bunker halter and fljoded holds Nos. 2
and 3. The pumps were started, but becam e choked, and the
captain decided to return.

Cotton freights the past week have been as follows.
S a tu r ,

M on.

T ues.

W ednes.

T h u rs.

F r i.

L i v e r p o o l, a s k e d . d . 90 4 a>532 961® 532 964'3' 532 9q4® 532 904'®532 96 i ® 532
H a v r e ..................... .c .
? r m 7 m Grh>?7 m 3 1 ^ 3 7 m
jrm rm
D o .....................
..
....
.. .
....
. ..
....
8 r e m e n .................
4 0 3 4 5 1 40® 451 4 0 ® 4 5 t 4 0 ® 4 5 t 40® 451 4 0 ® 4 5 t
H a m b u r g .............
Do
........... . d .
A m s t e r d a m ........
B e v a l, v . H a m b .d .
D o v . H a l l .. .d .
B a r e e l o n a ............ , d .
G e n o a ...................
M e s t e .................. . d .
A n t w e r p ............... . d .
G h e n t , v . A n t w ’p .d .

3 16

....

316

3 16

S16

3 16

....

....

....

....

37m

37m

37m

37m

3 16

....

37 m
51S
*4 ® 1764

1 4 ® 17,34

5 lfl
M 3 1 7 61

616
l4 ® 1764

37m
6 18
M 307,3,

....

....

....

....

....

....

41t

41t

4 lt

411

411

411

732
s 16

732
S16
739

73 3
3 18

732
3ie
7S9

732
s 16

722
316
7Sfl

1 Gents neb per 100 lbs.

61S

'1*9

6 te

THE CHRONICLE,

December 5, 1886,]

L iv e r po o l . —By cable from Liverpool we havj the follow ing
ta te m e n t of th e w eek’s sales, stocks. &c., at th at port.
You. 13.
Bales of the w e e k .......... bales
Of which exporters took ---Of which speculators to o k ..
Sales Am erican..........................
Actual exp ort..............................
Forwarded..................... ...........
Total stock—E stim atod...........
Of which American—ErtimVi
Total Import of the week.........
Of which Am erican...............
Amount afloat.............................
Of which Am erican................

Nov 20

65,000
3,200
2,200
55,000
10,000
74.000
525,000
407,000
190,000
170,000
390.000
385,000

Nov. 27 ! Dec. 4.

62,000
2,700
1,900
56,000
9,000
76,000
597,000
485,000
157,000
146,000
388,0001
380,000

56,000
2,000
1,300
50,000
2,000
73,000
630,000
559,000
158,000
139,000
403,000
400,000

63,000
2,700
3,600
58,000
6,000
79,000
706,000
573,000
111,000
82,000
383,000
381,000

The tone of the Liverpool market for spots and futures eai h
day of the week ending Dec. 1 and the daily closing prio s
of spot ootton, have been as follows.
8 p o t.

S a tu r d a y

1:43 P. B . |

M rm er-

M onday.
Easier.

Mld.Upl'da.

41*3,

411 3

S a le s ...........
S p e c . A exp.

8.000
500

10,000
500

F utures. '
Market, j
1:43 P. w-i

T u e s d a y . W ttC d a v T h u r s d ’y.
Fair
b usiness
doing.

F reely
offered.

H arden’#.

44*33

411,2

10,000
500

15,000
1,500

4%
10,000
500

F nday.

Easier.
4 9 ,2

14.000
1,000

Easy at Steady at Q oiet at Steady at Easy at
3-64 4-rtl l - 'i U W l jMM de­
1-6* ad ­ 3-64 d e­
advance.
cline.
vance.
cline.
decline

Quiet.

j|

Ve7
steady.

Quiet and Steady.
steady.

Q uiet and
steady.

Easy.

The prices of futures at Liverpool for each day are given
below. Prices are on the basis of Uplands, Low Middling
clause, unless otherwise stated.
TW “ The price* are g iven in pence a n d 0 t/V
8 63-6Li,, a n d 4 01 m ean* 4 1-64d.
S al nr.
Now. 28 to
Dec. 4

T

u p *.

^ 63 m eant

4
4
4
4
4
4
4
4
4

IT
14
14
13
14
14
14
15
15

d.
4
4
4
4
4
4
4
4
4

16
14
13
12
12
13
13
14
U

d.

d.

4 14 4 1 4
4 12 4 V i
4 1 0 4 11
&0 9 4 1 0
4 09 4 10
4 09 4 1 1
&1 0 4 1 2
4 1 0 4 12
4 11 4 1 3
....

d.

d.

4 17
4 15
4 14
4 13
4 13
413
4 14
4 14
4 15
4 13

4 16
4 14
4 13
4 13
4 13
413
4 13
4 14
4 14
4 12

d.
4
4
4
4
4
4
4
4
4
4

14
12
11
10
10
10
11
11
12
10

There has been a quiet market for Indian corn futures, and
prices have|gradually weakened under free offerings, prompted
by the increasing movement of the crop and indications that
there will be a heavy movement in the near future. Thurs­
day, however, there was a fractional improvement as the ad­
vance in wheat stimulated a demand from “shorts” to cover
contracts and prices advanced slightly. Only a limited
amount of business has been transacted in the spot market
and prices have weakened with futures. The sales incluJed No. 3 mixed at 30JgC, f. o. b. afloat for new and No,
3 yellow at 30^0 in elevator. To-day the market was quiet
and easy. The spot market has been steady. The sales in­
cluded new No. 3 mixed at 39c. delivered and old do. at SOi^c.
delivered; No. 3 yellow at 30^c. in elevator and 31c. de­
livered.
DAILY OLOSING PBIOBS OF SO. 2 MIXED COBS.

8at
Deoember delivery . . . .e. 2 9 ^
January............ ....... .
May d elivery......... ...... .0 3 3 ^

Mon
29*s
30
323*

Tuts.
291$
30
32i*

Wed.
29
29i*
32%

T h u rt.
29*4
291*
32%

Fri,
29
293a
32

Oats for future delivery have been quiet and prices have
declined under free offerings from the West and in sympathy
with the weakness of corn. Yesterday, ho vever, there was
a slight recovery, as “ shorts ” bought to cover contracts. In
the spot market the home trade has been a moderate buyer,
but the export demand has been quiet. The business trans­
acted yesterday included No. 2 mixed at 23c. in elevator and
No. 2 white at 35J£o. in elevator. To-day the market was
weaker. The spot market was steady. The sales included
No. 2 mixed at 233231^'c. in elevator and 24c. f.o.b. afloat ,
also No. 2 white at 25*^0. in elevator.
d a il y o l o s ix o F a r o e s o f n o . 2 m i x b d o a t s .

Deoember delivery.
Feliraary delivery..
May delivery...........

8at
23%
25%
26*8

Ifna.
2334
25
26 **

Tues.
21*4
2 l$i
26*4

Wed. T h u rt.
22^
23%
24
24%
25 *8
26H

1*M.
2314
24i*
26

Rye and barley have been dull and without change.
The following are closing quotations:
FL O U B

W ed.

P rI.

Thun.

1 :4 5
4
1 :4 5
4
1 :4 5
4
1 :4 5
4
1 :4 5
4
12»*
1
P- M. P. M r. m . p . m . p . m . P .M . P. M. P. M. P . M. P .M . P .M . P .M .

d.
D ecem b er..
D ec.-Jan . . .
J a n .-F e b ...
Peb.-March.
Mob-April..
April-M ay..
M ay-Jan e..
J u n e-J a ly ..
J a ly -A u g ..
A ug.-Sept..

▼Ion.

T h a t:

1027

d.
4
4
4
4
4
4
4
4
4
4

d.

1 5 ,4
12 4
11 4
11 4
11 1
11 4
12 4
12 4
13 4
11 4

16 4
14 l
1 3 .4
13 1
13 4
13 4
13 4
14 4
14 4
12 4

d.
15
13
12
12
12
12
12
13
13
11

d.
1124
1 0 -1
4 0 9 |4
4 09 4
4 08 4
4 O O jl
4 00 4
4 10 4
4 10 4
4 08 4

1

d.
12
09
08
08
08
08
08
09
09
07

....1 . . . .

O ct.-N o v ...

f in e ..................¥ bbl. *2 00® 2 90 P aten t, w inter...........$1 6 5 ® 5 €0
5 00
Superfine................... 2 2 5 9
310 City m ills e x t r a s .....
Extra, No. 2 .........
2 759
335 Bye flour, superfine.. 2 85 9 3 35
Extra. No. 1 ................ 3 4 0 9
385 Buckwheat flo u r ..... 1 3 5 9 1 5 0
O leara......................
3 6 5 9 4 40 Corn m eal—
Itra lg h ts.................... 4 4 0 9
470 Western, Ac.......... 2 00 9 2 10
’ateot. sp rin g........... 4 7 5 9 5 00
Brandywine......... .
215
I Wheat flour In sacks sells at prices below those for barrels.]
OB A IN .

V neat —
Spring, per b u sh ..
Bed winter No. 2 ..
Red w inter............
Hard. N ». 1....... ..
0 » ts—Mixed, per bo.
White.......................
No. 2 m ixed...........
No. 2 w h ite____ _

0.
89 ©
96>*&
85 3>
91*4®
1 9 \©
21 9
23 ©
25% 9

Corn, per hash—
0.
West’n m ix ed .. . . . .
95
No. 2 m ixed...........
93%
Western y e llo w ...
99
Western W hite___
94 **
24 »* B y e Western, per hush
32
State and J e r se y ..
24
26i* Barley—Western—
Feeding..........

c.
25
29
28
28

9
9
9
9

o.
31
30%
32
32

42 9 51
43 9 51
43 9 50
OS's* 34%

The movement of breadstuffs to market as indicated in the
statements below is furnished to us by the Statistician of the
New York Produoe Exchange. We first give the reoeipts at
F r i d a y , December 4. 1896.
Western lake and river ports, arranged so as to present th e
Etrly in the week the market for wheat fl >ur was stronger. oomparative movement for the week ending Nov. 28, 1896,
Subsequently, however, owing to a weaker turn to the mar­ and siuoe August 1, for eaoh of the last three years:
ket for the grain there was a reaction of 10c. to 15c. per bbl. in Receipts at— Ftour.
Barley.
Rye.
Oats.
C om .
Wheat.
prices. Business has been quiet. The demand from the home
Bbts.lOd'bs Bush.GO tbs Bash. bSlbs Bash.32 lbs Bash. iS lbs Bush.56 lbs
trade has been limited to immediate requirements, and ship­ Chicago.......
48,380
158,230
910 407 1,217,173
591,683
57,401
26,400
123,000
17,55
424,600
79,850
127,000
pers have done practically nothing. Rye flour has had a fair M ilwaukee.
29,197
27,505
150
111,629
83,910 1,127,043
D u lu th .......
call at Arm prices. Buckwheat flour has sold slowly, and M inneap’lls
29,280
145,070
941,500
2,602
9,700
values have weakened slightly. Corn meal has had only a lim­ T oledo........
201,700
338,300
4,900
992
6 *,330
180,150
73,050
12,400
23,346
ited call but prices have been maintained. To-day the mar­ D etroit..—
19,808
58,159
13.730
1,058
C lev ela n d ..
ket for wheat flour was quiet and easy.
0,300
133,100
06.000
363,535
73,001
20,825
St. L o u is ...
000
168.360
78.800
19,800
237,050
4,820
The speculative dealings in the market for wheat futures P e o r ia .......
70,000
187,500
02,750
have been fairly active, but the course of prices has been some Kansas City
120,577
1.259,36/
2,050,937
1,990 302
what irregular. Immediately following our last report there T ot,w k.’96 201.30? 3,031,742
91,906
1,140,757
232,703 5,510,098 1.883,301 2.101,031
Same w*.. <«.was a slight upward turn to values, as “shorts" bought to Sam e wk.’Ol 309,034 3.505,404 3,078,722 1,455,442 1,303,919
50,912
cover contracts, stimulated by unfavorable crop accounts Since Au'j.L.
3,743,277
72,195,290
19,800,302
01,611,893
95,720,242
5,321,246
.........
from Argentine, the small movement of the crop at the 1896
5.044.039 107,581,751 10,865,831 57,808.902 19.311.957 1,814,125
1895...........
Northwest and a further large decrease in the American visi­ 1891........... 0,281 092 91.720,887 27,727,230 38.480.705 19.959,383 1,050,478
ble supply. Subsequently, however, there was a reaction under
The receipts of flour and grain at the seaboard ports for the
liquidating sales by large operators, prompted by easier Euro­ week ended Nov. 28, 1896, follow:
R ye,
Barley,
Oats,
Corn,
pean advices, accompanied by selling orders induced^by advices
Whe it.
bash.
bush.
bash.
bash.
bbl*.
204,200
032.975
597,450
780,100
from India reporting rains : but Thursday the market again
555.H25
. 184,639
497
39,70 7
183,857
75.393
490,244
550
turned stronger, as there was a renewal of the unfavorable
14,397
37,242
03.0H2
5,600
81,836
201,971
51.09o
crop accounts from Argentine which stimulated a demand P h ila d elp h ia......... .. 51,230 300,111
5,531
42 ),774
090,908
33,403
4,200
8,570
U.01O
from " shorts " to cover contracts. In the spot market busi­ New O rlean s*....... .. 12,733 139,470
43,235
544,844
ness has teen quiet. To day the market was depressed under
258,020
743.870
.. 420,080 1,243.507 2.574,232 1.534,159
3,590
334,752
3,109.123 2,011,735 1,004,910
liquidating sales by "longs,” prompted by diiappointing Week 1895..............
foreign advices. Tne sjo t market was quiet. The premiums * Racalpts do not, include Brain passing through N ew Orleans for foreign
have further advanced to 1 2 c. over Dacember for No. 2 red ports on through bills o f lading.
The total reoeipts at ports named in last table from Jan. 1
winter f.o.b, all iat, 7'^c. over December for No. 1 hard
Duluth and 3‘i over Djcembsr for No l N irl.hern Duluth, to Nov. 23 compare as follows for four years:
1803.
1894.
1895
f.o.b. »fl >at. Tne business for the day included No. 1 hard
1890.
Bscs .pts of—
18,120,956
19,097,033
10,172,370
Flour .............. .bblfl. 11.303,855
Duluth at 5c. over December c.i.f. New York.

B R E A D S T U F F S .

DAJLT CLOSING PBIOBS OF SO. 2 BSD WINTBB WBHAT.
8a (.
D e c e m b e r d e l i v e r y . . . . ,c. 00*4
J a n u a r y d e l i v e r y . ........ f l . 90*4
Maroi delivery.............. .0. 92
May delivery.. . . . . . . . .0. 89 V

Hon.
90%
90%
92 Mi
90%

Tues.
89%
89%

9 1 *4
83%

Wed.
89%
89%
90%
87%

T h u rt,
90
90
91%
89

bash. 03,788.879
Corn................ . M 90,130.529
ats................ . “ 08.434.853
87% O
............ . •• 11,0*2,209
8 7 \ Barley
••
5,084,188
Rye..................
99%
T nal tain, ...........219,090.718
86%
F c i.

43,334.4'3
50.939.U71
40.987,240
3.408,510
473.38)

64,988.175
41,697,10 '*
42.395.049
4,335.012
488,080

90,507,295
53,870,380
49,435,773
4,480,959
1,100,472

139,202.013

143,951,032

198,990,886

THE CHRONICLE

1028

The exports from the several seaboard ports for the week
ending Nov 23, 1398, are shown in the annexed statement:
Wheat,
bush.

E x p o rts from—

52,239
34,255

021,314
20,239

9,117
7 2,044
1.933

9,944
185,000
20,025

430.550
176,923
1 6 5 ,0 1 1
IS >.850
463.040
608.050
273,433
320,328
70,472

114,023
5,759

83,804

. 1,471,501 2.710,680
1,005,481 1,586,035

289,970
239.921

946,320
89,603

912.719
295,551

Wew Vorlc

Boston ..........
G a l v e s t o n ..........
ftiiuddipnia

' 04/00

56,000
B a l ti m o r e .............
127.235
N ew O r le a n s
N o r f o lk
.......................................
N e w p o rt N e w s . .......................
M o n tr e a l .....................
15,966
T o t a l w ook ..
S a m e t im e 1895

Oats
bush.

Flour,
bbls.

uom,

bush.

live,
bush.

95,975

Peat,
bus*.
3,609
4,098

2,000

1896.

N e w Y o e k t o No vem ber 30

30,597
95,975

40,175
29,126

C o rn .-----------.
•Wheat.-------- Flour.-------- *
Week Since Sept. Week Since Sept. Week Since Sept.
1, 1896.
N ov. 28
1, 1896. N ov. 28.
N o t'. 28
1, 1390
bush.
busii.
bush.
bush.
bbis.
bbla.

1895.

Week. Since J a n . 1.

Great B ritain_____ _______
Dther European................ .
India. ........ .............................
Arabia...................... .................

6
17
4,601
10
807

West In d ies................ .
d ex lo o .............................. ...
Central A m erioa....................
South A m erio a .............. ......
Otner C ountries.....................

652
50
93
516
127

T otal...................................
China, v ia V an cou ver*,...

6,879

2,871

The destination of these exports for the week and sinoe
September 1, 1898, is as below. We add the totals for the
corresponding periods of last year for comparison:
Exports for
ieeek and s in
Sept. 1 to—

[VOL. L i l l i .

Week

Since J a n . 1.

11
8

3,302
2,634
93,547
5,558
29,872
15,290
12,144
. 2,509
9,273
47,109
3,891

4,261
3,019
48,771
4,000
19.762
8,925
16.551
2.495
10.531
59,432
6,603

21

!

5
299
51
68
2,293
15

225,129
38,595

2,771

184,350
22,370

263,724,
T otal....................... ........... 6,879
• From New E ngland m ill points direot.

2.771

206,720

.........

The value of the New York exports for the year to date hasbeen $9,969,390 in 1896 aeains: $8,390 101 in 1895.
Brown sheetings and drills have again been dealt in to a
limited extent only. Jobbers and converters are buying cau­
tiously and there are few export orders in the m irked.
3,388,151 1,471,501 20,823,119 2,710,060 35,253,819 Sellers have not made any change in their quotations out the
T o ta l
.. . . . . . 280.970
3,111,132 1.095,481 11,147.102 1,580,985 18.024,299
T o t a l 1895.............. 239.921
tendency in some quarters is downward, and there are op­
The visible supply of grain, comprising the stocks in portunities to buy most weights at some concession. Bleached
granary at the principal points of accumulation at lake and cottons also are easy to buy in all grades, but the de­
seaboard ports, Nov. 28, 1896, was as follows:
mand continues indifferent. All coarse colored cottons
Barley. are dull iu the way of regular demand but there have been
Rye,
O at?,
W \eat%
Corn,
bush.
bush.
bush.
in store at—
bush.
bush.
some “deals” in denims, in which buyers have had a dis­
466.000
l,5 9 i.o o o
6,728,000
3,545.000
7,731.000
190,000
64,000
31,000
108,000
34,000
advantage, and this has imparted a somewhat
10,000 tinct
125,000
50,000
1,230,000
215,066
weaker tone all around. Wide sheetings continue quiet and
1,466,000
613,000
B u IIa lO ............................. 2,077,000
Do
a t l o a t ........
there
is
only a small business doing in cotton flannels and
3,457,000
894,000
45,000
4,783,000
C h i c a g o ..................... 14,402,000
blankets.
Quilts are dull and white goods quiet. Kid fin­
93,000
115,000
6.000
3,000
362,000
M il w a u k e e ...................
ished cambrics dull and easy. The advance in American
Do
a f l o a t ..........
378,000
293,000
325,666
indigo blues and shirtings already referred to has been the
2,000
D u l u t h ............................. 2.013,066
Do
a f lo a t.....
feature in regular prints. Fancy calicoes for spring are in
86.006
455.066
332,000
981,000
T o l e d o .............................
.........
fair demand, with good sales of fine specialties. Ginghams
37,000
32,000
51,000
436,000
24,666
D e t r o i t ..........................
are wittnout change. Sales of print cloths have been on a
Do
a f l o a t ..........
*70,000 reduced scale this week and the market closes barely steady
23,000
60,666
19,000
2,093,000
86,006
815,000
at 3%c. for extras.
35,000
33,000
Do
a f l o a t ..........
D o i t e d K in g d o m 247,012
C o n t i n e n t ..............
13,201
8 . & C. A m e ric a .4.125
W est. I n d ie s .. ..
13,008
B r i t. N . A . C o l’s .
6,078
O th e r c o u n tr ie s ..
6,456

C i n c in n a t i .....................
B o s to n .........................
P h i l a d e l p h i a ................
P e c r i a ...............................
B a l ti m o r e .....................
M in n e a p o lis .................
O n M is s iss ip p i R i v e r
O n c a n a l a n d r iv e r ..
T o ta l
T o ta l
T o ta l
T t.H,
T o ta l

2,420,832 1.023,810
447,291
318.328
263,070
289,774
77,972
28.176

1,04)0
1,846,000
184.000
452.000
898.000
191.000
151.000
406.000
474,000
18,715.000
8,000
2.998,000
3L2.000

N o v . 28,1896.53,911,000
N o v . 21.1890.50,971 ,0 0 0
NOV. 30.1895.63,003,0 0 0
D e c . 1,1894.85,159,0 0 0
D e c . 2.1 8 9 3 .7 8 .0 9 1 ,0 0 0

T HE

3,000
449,000

15.438,266
5.311,725
9,789

16,000
124.000
59.000
96.000
174,000
333,000

18.48- .547
15.698,694
81,950
327,776
11,011
151,194
11.700
513,688
218,028

1,052.677
1,417,091
150

5,000

06, 60c

15,000

i 17,000
35,000

9,000

ie.ooo

55,000
1,209,000
126,000
183,000
10,000
1,097,000
9.000
1,000
87*.0i)0
407,000

164.000
1,813,000
339,000
1,000
450,000
158,000

9,000
128,000
21.000

so'.ooc

117,000
25,000

1 ,0 8 1.00C
354 , 00c

18.224,000
IS.150,000
5,51.7,000
4 866.600
7.084.000

12,474,000
12.208,000
0,3117,000
0,740,000
4,255,000

2.559,000
2,657,000
1,423,000
477.000
546,000

5 ,3 57,000
6,146,000
6,310,0*0
3,809,000
3.342,000

DRY GOODS TRADE.

1895.
Nov. 30.
101,000
50.000
73.000

1894.
Dec. 1.
40.000
15.000
75.000

1893.
Dec. 2.
1 2 2 ,0 0 0
13 4,000

T otal stock (p ieces)__ 2,276,000

224.000

130,000

2 5 6 ,0 0 0

G o o d s . — There

has b e e n a quiet demand
for dress goods aud silks for spring importations at steady
prices. Linens also in fair request. Rib oons and laces quiet
and only an indifferent business in hosiery and underwear.
Seasonable trade is light and irregula*.
F o r e ig n D r y

Im p o rta tio n s am i W a reh ou se W ith d r a w a ls o f D ry G oods ,

The importations and warehouse withdrawals of dry goods
at this port for the week ending December 3,1896, and since
January 1, 1896, and for the corresponding periods of laifc
year are as follows:
m

3
tj
O
r<
w
Tl

H

si

»; : »:
P i i e
®! . . »
o* « • ;
0 : i s :
* .
, , .
, . . ■
• u

CR 05 0

M*-»
t0 M -4 O ©
n jm x ©©
C5O©'0D©
CROXCRX
COCOJOO *0

CD X 05
M r*
O

CRM

tv
©
M

05 tO
©M

CDA
CR OCR
CO
*4 CRM
C* '©*©
© tOM
X M tO

to

OCR
oo
CD50
CO05
oo
05 to o
M
O COM
MO
o *>•05
M*-4
to

to oto

&

C5 h*
O2
e+ s s
2 N
p»
N
•
a •d m
M M
05 M
n
K
o

H
CD
PS

a

HI
73

0
M -* toco
M if* 00 © ©
0DM '"'''JO!
•4 —x © x
to 05MM o
M tOCOCR©
**05 35CO00
©©MO©
M tRCO—GO

©co*-*aoo
©*4xto©

COto M CO
<| CRo x CR©
©©OCRCR
M tO
M CR<J © ©
h-105CRCR©

©VtoVtto
tOKXl 4|M
XM M M tO

CO05 O © CR
co’o m Vjco
M M CDCOO

M
CO OKI
CO 0 05 M tO CRCRK)
to if*- tot CO'CO^HH
CDtO " - 1 0 0 ( 0 ^
o OX rf* CO'R 'J fOCR
CMM 05 '© tO
o M © -3
© © M©
"J X M
CO MCR X m —tOX

gH
= to
sg

EP

; 1

COtOM WM
©©CROC
MCRX *4-4

tO©
M

g

§
i
J3
n
®
®
o

coo

00
M

H

3
at
- S tg flg

w
$

to
-4
M
M
-4
CO
GO
M
M
M
CO
(JO
CR
CO
x

©CO
tOCR
M
'm CO
CR*-*
05<1
©<l
M 05
COCO
M
©
M©
CRtO
©CR
M©

g:
8:
5:
• ■
• ■
: :

s

:
:
!
i
1
;

P:
i i
I i
« •
• t
; •

© -5 tO
GO C5K)
05 CO
•4 0
00 © O O
W to M O
CR ©05
d M OH*
V CO
a j4 OlH
Q M C5CR
03
os © Kl
© M©

X to to
a M OCO
© o©
© ©•© CO05
Ox O i^
0 M ©CR
o M
© ©VJ
MO
to
-4

it* 00
H- 05
OM
M
oto
*4 05
M rCRO
CRM
M OO
CO©
M CR

3

|
S
3
o
u
i

•
•
M
C3

CRtOM COM
M *—O tO M
<JtOM<3CR
M
COM CR00 O
OMQ0MK)
COCOt-V©
O to to ©CR

M r- toco
tOMCOOOS
00 H MOD K>
O M CD05 00
tO05 © 05C5© 05

©
o -4

CO
©
M
M
CO
CO
CR
©
©
CO
to
©

g

T o ta l......

£+■

T o t a l ......
n t’d foroonsi

P. M.. D e c . 4, 1896,
The market at first hands has passei through another very
quiet week in staple cottons and in the woolen goods depart­
ments, the best business, relatively, being done in cotton
dress fabrics for spring. The jobbing trade also has had a
quiet experience. In cheerful contrast to this are the a c .
counts coming to hand of a quite decided improvement in the
retail trade here and elsewhere under the influence of wintry
weather conditi >ns. This is an improvement a t the right
end, as nothing will stimulate a good business next season
more than a free outward movement of the supplies
now carried by retailers. Meanwhile the tendency of the
market in staple cottons is in favor of buy ers. There is no
marked pressure to sell, but the indications of easiness noted
last week have been more marked this week and without
open changes in quotations prices are here and there 5 per
cent off from what sellers asked immediately after the elec­
tions, The course of the cotton market is hardly helpful to
sellers, while the excessive stock of print cloths is used as an
argument by buyers in some directions. American indigo
blue and shirting prints were advanced J^c. early in the
week despite these influences.
W o o l e n G o o d s ,—The new heavy-weight season has made
very moderate progress during the week, as agents show no
alacrity in putting their new lines upon the market. There
is a general disposition to go slowly in this connection, as
buyers are backward in placing orders for such goods as are
already open to them. These are almost entirely low-grade
fabrics in suitings and trouserings. The price situation is
firm, but still somewhat indefinite in the absence of a general
display. There has been a moderate demand for new over­
coatings, chiefly in kerseys. Re-orders for light-weight goods
have been limited in number and volume, but stocks are gen^ erally in fair shape and prices steady. Cloakings are dull.
Dress goods in fair request for spring in both plain and fancy
lines. Cotton-warp ca-hraeresoccasionally lc. higher. Ftaunels quietly steady. Blankets in moderate request.
D o m e st ic C otton G o o d s — The exports of cotton goods
from this port for the week ending Nov. 30 were 6,879
packages, valued at 1313,587, their destination being to the
points specified *n the tables below:
N e w Y o r k , F r id a y ,

1896.
Nov. 28.
410.000
898.000
963.000

Stock o f P r in t Otoths—
At Providence, 64 squares
At F all R iver, 64 squares.
At F all River, odd s iz e s ...

*-t0 WCR©
M M «X *- CO
03 < 1 ( 0 0 3 0
r-COtOM CO
C 5M © r-©
CR© 0 3 <1<I
M<) cvCROS
tO M M tO *4
rf*.CR—©05
to COCOWCB

to

tOCOM “4 ©
tOM © 05*4
© 05 © -4 M
©05C0©<1
tO X CJ! r- ©
MM tOM
M CO© © 05
050005 © *4
05 WQOM-t*
tO •—
•© M <J
M tO M CJ*tO
© CRCR© 00
CRtO"4 05X
X CRtOX O
^4 05 CO© ©
O *4 X *4 CR
M M CR05 ©

>

K
0#
2
H
X

d
*•
>

tX

w

o
d
o

a
a
*

H

CO
©
to
M
M
CR
05
©
M
W
M
©
M
CR
©
M
to

s
I

E

<9
o
a

• “ i
• » »

3p

: i • 3
; • • s
; : : i

M
to

Tj

C5tO ** © CR
05X © CRCO

' ^
-w s.
coa
©$

MtOWMM
M MO»©M
WC0h-O»^*
<JXC5***03
M CRX k—05
C C 444M
<3
C5 X M <J -4
CO© COM CD
M O CO<1CO
MCRCRMM
X <IM © 05

a
•

Ml-* - M
tOM *4 CRX
©©©©
-4 CRN) COX 05
© •4 CRCOC5*4
M K5C5CRM tO
© X 05 C5M ©
© X © M ©to
CO to
CJ! X to M M M
C5 051OMC5©
to
M O X CR05 tO
to
© COCOM COCR
o to CO© CJ! ©
© © x to toes
CO “4 W00 CO©
© O J4X 4H
©MMMM
-4
05

Cb

M

03

X
1©

S’ !

CJ!S

© CR
M
X ©©X X

M
M
M

©

M
©

*4 M it. tOO!
OOMtOOiM
©^)©©<1
x © a to©

M M tOr- X
MWCD4W
M ©bcROO©
CR X CRO tO©
CR 0 4 W 0 M
M M X (O05©
CO X X X © X
M © CRCRX O

do

1
a1
d

X
_CR

D ecember 5, 1896.]

THE CHRONICLE

Page.
Location.
Rate.
8 4 8 .. Brooklyn,. N. Y ............ 3%
8 4 8 ..
Brooklyn, N. Y..... 312
8 4 8 ..
Brooklyn, N. Y...
..........
3*2
TERMS OF SUBSCRIPTION.
848 Brooklyn, N. Y __ ... 312
8 4 8 ..
Brooklyn, N. Y... . . .31-2
.
T he I nvestors ’ S upplement will be furnished 9 3 8 ..
Cambridge, M ass___
... 4
8 9 1 ..
Cleveland, Ohio..........
... 4
•without extra charge to every annual subscriber of the 891. .Cleveland, Ohio............ 4
978. .Cleveland, Ohio......... ... 4
■Commercial a n d F in a n c ia l C hronicle .
9 3 8 ..
College Hill. O...
h io...
6
9 3 8 ..
Coraopolis, P a .... 4*2
T he S tate a n d City S upplement will also be fur­ 8 4 9 ..
Erie County, N. ..Y ...
4
8 4 9 ..
Everett, Mass..
nished without extra charge to every subscriber of the 8 4 9 ..
Fall River, M ass.........
— 4
8 9 1 ..
Fall River, M ass.........
.. 4
•C h r o n i c l e .
979 Fall River, M ass....... . . 4
1030.Far Rockway, N. Y ..... 5
Franklin, In d ..
T he Street Railw ay S upplement will likewise 9 3 8 ..
979 G U nC ove, N. Y........ .. 5
Glens Falls, N. Y ___
be famished without extra charge to every subscriber 9 7 9 ..
5
1030.
Green Bay, W is..........
o f the C hronicle .
979 .Hartford, Conn......... . . 3%
8 9 2 ..
Holyoke, M ass.
H ouston, T ex.. . . 5
T hb Q uotation S upplement , issued m onthly, will 91031.
7 9 .. Hudson Co., N. J . . . . .. 4
8
4
9
..
1
0 .ia , Mich......... 5
«wso be furnished without extra charge to every sub1031.Knox Co., T enn......... .
9
3
8
..
Lansdowne,
Pa .. 4
•scriber of the C hronicle .
8 4 9 ..
Lowell, M ass... .. 4
1031.Lynn,
M
ass___
TERMS for the C iironicle with the four Supple­ 9 7 9 .. M .ssachusetts............... 3*2
.Medford, Maas.............. 4
ments above named are Ten D illars within the United 979.
979. .Melrose, Maas................ 7
8
4
9
..Moriches
School DisStates and Twelve Dollars i i Europe, which in both
trict No. 33, N. Y ... 5
979.
Mount
Vornou,
N. Y ... 5
cases includes postage.
9 7 9 ..Mount Vernon, N. Y ... 5
979 Mount Vernon, N. Y ... 4
Term* of Advertising — Per Inch space.)
892 New York City, N. Y . 3*2
Oae i * . . . . .
___ S3 5 0 1Tor Months (13 tim es).. $25 00 >192. Oregon C ity.O re......... 6
One •*-into
ittin ae e).. I 100 | 8lx onths
(26 tim es).. 43 00 8 5 0 ..Passaic, a. J ................. 5
•Two Month#
(Stlrnes).. 18 00 I Twelve Months (52 tim es).. 53 00 979. Paterson, N. J .............. 412
fT :■ <»«Te term s tor one month and anw ard are for standing cards. 1031.Peoria* 11....................... 6
9 4 0 ..Philadelphia, P a .......... 3 4
892. .Salem, Mass................... 4
. Salt Lake Co., U ta h ... 5
T h e p u r p o se o f tlii* S la te a n d City D e p a r tm e n t 89 9421..Sau
It Ste. Marie, M ich. 5
i is to f .ruidh oar subscribers with a weekly addition to and 980. .Htockton, III................... 6
980
Svraouae,
N. Y .............. 4
continuation at the Stats and City S upplement . In other 941 .Taunton, Maas..............
4
words, with the new (acts we shall give, the amplifications 1031.Taunton, M ass............. 4
892. Trenton. N. J ................ 4
and c wrections we shall publish, and the municipal laws we 980 Trenton. N. J ............... 4
980 Trenton, N. J ................ 4
shall acaijxe in the “ State and City Department,” we expect 980.
Trov, N. Y ....................... 3 4
9
to bring down weekly the information contained in the 8 0 ..Troy, X. Y ...................... 3 4
3 tat * akd City S upplement to as near the current date ae 9 4 1 .. W atertown, Mass......... 4
. Watertown, M ass......... 4
(possible. Hence every Subscriber will at all times possess a 8980
5 0 ..Warren, Ohio................ 5
complete and fresh cyclopedia of information respecting 9 8 1 .. W liitestone (L. I.), N. Y. 5
8 5 0 ..Wyoming, Ohio............ 6

8

ta t e

a w

> C

it y

p £ r A tm /f£ in .

Municipal Debts.

MOMIV!PAL BOND SAL ES I N NOVEMBER.
The aggregate amount of the State, county aud
•municipal bonds which we have reported a? issued and
sold daring November is, according to the comp la’ion
given below, #34,605,894. This is by far the largest
sum that we have reported for any mouth since records
of this nsture were first instituted by the C h r o n ic l e ,
in 1592. The largest total for any previous month
wa- that of I) cember 1893, when the figures were a
little over 17 millions, or only about one-half of the
Aggregate for last month.
la the following tib'e we give the prices which were
pai I for November loans to the amount of #33,450,394,
issued by fiftj-fonr municipalities, the aggregate of
sales for which no prices were reported being #1,155,500
and the total salet for the month #34,605,894. Prefixed
to the detailed description of each loan is a reference
to the page rf the C hronicle where a full account of
the sale will be found.
N o v e x b ek Bo n d .s acks .
A m ount. Award.
M aturity.
Rale,
$92,200 1001897-1898
891 Albany, N. Y............... 4
41.100 100 125
Nov. 1, 1899
*$91.. Albany, N. Y.............
4
41.100 1004375
Nov. 1, 1900
391 Aibany, X. Y ................. 4
41.100 101 *
Nov.
1,1
9
0
1
391 Albany, X. Y............... 4
35.400 101*75
Nov. 1, 1902
891 Albany, X. Y .............. 4
102-4375
35.400
1,
1903
Nov.
891 Albany. X. Y................ 4
31.300 102Nov. 1, 1904
8 9 1 . Albany, X. Y . . . . ........... 4
103 1875
31.300
1,
1905
Nov.
891 Albany. X. Y ............... 4
31.300 103- 5625
Nov. 1,1 9 0 0
891 Albany. X. Y................ 4
101*1875
2,800
1,
’07-11
Nov.
891 Albany, X. Y .............. 4
30.000 100891. .Albany, X. Y . . . . . . . . . . 3*9 1897-1917

Page.

Location.

1029. Altettbeny Sixth Ward
School D istrict, P a ... 4

$43 . Asalietm . Cal ..............
t o I Anaheim, Cal----—*-«•
■tfl Atv erne by the • Sea.
N Y ............................
1030. Baltimore, Md .............
891 BftmMtrille, Ob .........
............... .
!»78 Bo*ton,
<#7S
SiMfl.........
....... 978 Bristol Co..
3dB Brooklyn, N. Y .. . . . . . . .
848 .Brooklyn, X. Y ............
843 -Brooklyn, N. Y . . . .......
8 43 Brooklyn, X. Y______

0
6

D e c ./9 7 to ’21
1906-1910
190*1-1910

101*31
5.000 10018.000 100*

120,000

8.000 101*50
1897-1904
500.000 103-77
1940
15.000 100 1920
.
1,500,000 101 625
1936
40.000 105*68
N ov. 25, 1901
25.000 101*53
Nov.
25,
1398
5
862.000 1 0 110
3*4 1936-1937
330.000 101 *
Jan. 1, 1937
3
100.000 100*75
3 8 Jan. 1 ,1 9 3 0
312,000 100*50
1924-1930

5
34
6
34

1029
M aturity*
A m o u n t.
Jan. 1.1916: $245,000
Ju ly I, 1913
10,000
Jan. 1, 1936
71,242
1916-1925
115,000
40,000
Oct. 1 .1 9 1 6
264,000
Oct. 1 .1 9 2 6
250,000
Oct. 1,1 9 2 6
100.000
Oet. 1,1 9 2 6
50,000
Nov. 16, 1906
5,653
1901-1926
22,000
30,000
1923
20.000
35,000
1926
25,000
1926
35,000
Teb. 1, 1916
75,000
25,000
6.000
16,000
27,000
Jan. 1, 1922 250,000
Ju ly 1, 1916
75,000
1936
109,000
1916
110,000
1897-1905
9,000
215,000
1926
13,000
100,000
July 1.1G-26
1906
72,000
1901-1936
8,225,000
1925-1926
61,000
1926
17,000

A w a rd *
100*37
10010
100-05
100100108-21)
106-36
106-04
IOS'3020*
104-76
100100'
103-15
105108-58
109-837
110*23
100100105*45
104-26
102-426
106-059'
102-00
107-15
100105-10
101-79
107 819
3-65*
105-829
106-71
106-7249

6,000
1908
Nov. 1,1899
25,000
Nov. 1, 1902
25,000
1937-1939
30,000
N o v .l,’l l - ’27 16,046,590
6.000
Nov. 1, 1924
25,000
1906
36,000
1897 to 1902
80,000
1906-1910
1,500,<‘00
42,000
131.000
1906-1916
Nov. 1, 1916
3<)t000
4,000
50,000
1926
1916
7,000
1922
20,000
61,000
1916
45,000
24,900
1906
24,000
Dec. 1 ,1 9 1 5
Dec. 1 ,1 9 1 6
24,000
1906
70,000
1906
70,000
1897-1904
22,040
1900-1921
5 ‘,000
4,369
1897-1906

100*25
102-09
104-75
105-75
104-71
100103-50
104-779
100-00
101-299100100101-09
100*
109-53
1 0 528
107-35
100105-75
103-50
101*42
101-47
1 0 0 1 5 to
102-19
102‘19
10*>100 0268
101*184

Total (54 m unicipalities!................................... $33,450,394
Aggregate of sales for which no price ha9
been rep orted .................................................... 1,155,500
Total sales for November, 1896....................$34,605,894
' The Lynn bonds sold on a 3*65 per oent basis.

Honda Listed in London.—It is reported that .$4,000,000 of
Mahsachusett8 "6% per cent gold bonds aod $4,039,000 of New
York City 33^ per cent gold bonds have been listed on the
London Stock Exchange.
B o n d P r o p o s a ls a n d N e g o t ia t io n s .—We have re­
ceived through the week the following notices of bonds
, ecently negotiated and bonds offered and to be offered for
sale.
Allegheny Co., Pa .— B ond C a ll —Notice is given by the
Sinking Fund Commissioners of this county ♦•hat coupon com­
promise bonds numbered 457, 458. 4^2. 463. 464, 465, 469, 476,
503, 5 *5, oil. 512, 515. 516 and 517. and registered compromise
ber'ds. numbered 652 and 653, dated January 1,1863, and
maturing January 1, 1913, will be paid with interest to Janu­
ary 1, 1897, O'* presentation at the office of the County Comp­
troller at Pitisburg, Pa. Interest on the bonds will cease on
the ab ve date.
Allegheny Sixth Ward School D istrict, Pa .— B ond Sale.
—On Nov. 20. 1896, this district sold $120,000 of 4 per cent
school bonds to Philip F. Kellv, of Philadelphia, at 101*31 and
accrued interest. The securities are dated December 1, 1896,
and the principal will mature part yearly from December 1,
1897, to December 1, 1921. The bonds are exempt from taxa­
tion.
75 Anne Arundel Co., Md.—B ond Sale — At a sde of bonds of
this county held in Annapolis oq Dec. 1, $12,000 of schoolhouse bonds were sold in six series of $2,000 each. The pur­
chasers are as follows: Series A, Lonaconing Savings Bank
at 102 50 ; series B, the same bank at 104 50, and series C, J>
E and F, C. H. Whim & Co., of New York, who bid 106*2o,
*08*25, 110*25 and 112*25. The entire amount of the premiums
was $980. The securities are dated July 1, 1896; interest at
the rate of 5 per C3 ut will be payable semi-annually on the
first days of January and July, and the principal will mature
part yearly in from 5 to 30 years from date of issue, ihe
bran is secured by a sinking fund and is exempt from taxa­
tion except for State purposes.
Anniston, Ala.—Bondholders' Committee Yo/tce.—Thehold­
ers of the bonds of Anniston, Ala., have united to bijng suit.

1030

THE CHRONJOLE.

against the city for the payment of overdue coupons. Out
of $288,500, the city’s total issue of bonds, there have already
been deposited under this arrangement $230,500, or about 80
per cent. Notice is notv given by the Bondholders’ Committee
that it reserves the right to refuse to receive any bonds which
are not deposited with the Sffe Deposit & Trust Company of
Baltimore on or before December 31, 1896. Bonds not so de­
posited will be debarred from the benefit of the proceedings
which have already been instituted or of any other action
taken by the Committee.
The official notice o f th e B ondholders’ C om m ittee w ill be
fo u n d am ong the advertisem ents elsewhere in th is D epartm ent.
Asbnry P ark, N. J .—B o n d O ffering. —The Finance Com­

mittee of Asbury Park will receive proposals until noon of
December 7,1896, for 818,000 of 5 per cent water-works bonds.
The securities will be dated December 1, 1896, interest will
be payable semi-annually on June 1 and D.cember 1, and the
principal will mature Decenner 1, 1936.
The sale o f these securities is advertised elsewhere in th is
D epartm ent.
Atlanta, (la.—B ond Sale— J. H. G aid ninth, City Comp­

troller, writes io th e C h r o n ic l e that at me sale which took
place on Dee. 1 in that city $74,000 of 4 per cent thirty-year
coupon bonds of Atlanta were awarded to the Lowry Brok­
ing Company of Atlanta at 1005g; six other bids were re­
ceived.
B allard, Wash —B o n d Eeivs —It is reported that this city
has decided to purchase an electric lighting plant, and bonds
or warrants will be issued for that purpose. Of the $51,000
authoriz-d for water and electric lights, only $45,000 have
been soldj and it is proposed to use the balance for the light­
ing plant. Bids will be shortly advertised for.
Baltim ore, Md.—B o n d Sale.— On November 30 the Finance
Commissioners awarded $500,000 of 3% per cent bonds of 1940
to the Maryland Trust Co. at their bid of 103-77 and accrued
interest for the entire lot; 23 bids were received, amounting in
all to $6,841,700. It is reported that the purchase of the bonds
was made in the interest of Dick Bros. & Co., of Philadelphia,
and a Baltimore house, the Philadelphia firm taking $250,000
of the loan.
Bloomington, 111—B ond E lection. —It is reported that on
December 21, 1896, the people of Bloomington will vote on
issuing refunding bonds to the amount of $75,000. The
securities, if authorized, will bear 5 per cent interest.
Bradford County, Pa.—B o n d O ffe rin g .-S e a te d proposa’s
for the purchase of bonds of this county will be received by
the Commissioners of the County of Bradford, at their office
in Towanda, Pa,, until 1 o’clock P. m . on Tuesday, Decem­
ber 8, 1896. The securities, to $150,000, of which $50,000
are coupon and registered goli bonds dated January 1,
1897, and payable January 1, 1902, and $100,000 are similar
bonds of the same date, due January 1, 1907. Interest on the
bonds is payable in gold, semi-annually, at the rate of 4 per
cent, at the office of the County Treasurer in Towanda, or at
the office of the U. S. Mortgage & Trust Co., New York City.
All bonds must be accompanied by a certified check or
New York draft to the amount of 5 per cent of the bid. The
bonds are issued for the purpose of building a new court
house, and are to be in denominations of not less than $200 to
to suit the purchaser. The couuty has no other bonded d e b t;
its assessed valuation is $21,671,491 and its real valuation is
about $57,000,000. The population in 1890 was 59,233.
The official advertisem ent o f th is bond sale w ill be fo u n d
elsewhtre in th is D epartm ent.

Buffalo, N. Y.— B o n d O ffering.— Proposals will he received
until December 10, 1896, at 12 o'clock, noon, by Erastus C.
Knight, City Comptroller, for the purchase of $527,765-27 of
3% per cent Buffalo tax loan bonds. The securities will be
dated December 1. 1896, interest will be payable semi-annu­
ally on June 1 and December 1, at the Gallatin National Bank
of New York, or at the Comptroller’s office in Buffalo, and
the principal will mature Dacember 1, 1901. A certified check
for 2 per cent of the amount of bonds bid for must accompany
each offer.
The bonded deht of the City of Buffalo on the first day of
July. 1896, less bonds held by the city in sinking funds is
$12,256,362 19.
e
The assessed valuation of the taxable real estate of the city
by the rolls of the year 1896 is $225,485,795.
Caledonia, N. 3 .— B o n d Issue.— The $20,000 of water works
bonds recently authorized by the people of Caledonia will not
be offered for sale until some time in March or April of next
year. They will bear 4 per cent interest and mature in
twenty years from date.
Canton, Ohio.—B o n d E lection. —I t is reported that on
December 19, 1896, the citizens of Canton will decide the
question of issuing sewer bonds to the amount of $60,000.

Y

ol.

urn,

Cedar Creek, Neb.—B ond E lection—I t is reported that a
recent election held in this place was carried in favor of
issuing $4,000 of bonds for the purpose of building a bridge
over the Platte River.
Chagrin Falls, Ohio.—B o n d s A u th o rize d . —Water bonds
of this place to the amount of $70,000 have been authorizid.
The securities will bear interest at the rate of 6 per cent and
mature in from 5 to 20 years from date of issue.
Cleveland. Ohio.—Rond O ffering.— Sealed proposals will be
received by H. L. Rossiter, City Auditor, until 13 o’clock noon
on December 24, 1896, for the purchase of $200,000 of 4 per
cent city of Cleveland water works coupon bonds maturing
October 1, 1926. The securities will be dated October 1,
1896, and both principal and interest will be payable
at the American Exchange National Bank, New York City;
interest payable semi-annually. A certified check drawn on a
national bank for 5 per cent of the amount bid for and paya­
ble to the order of the “ Treasurer of the City of Cleveland”
must accompany each bid. No bid will be entertained unless
made on a blank form, which can be obtained on application
to the City Auditor, and no bids for less than par and accrued
interest will be accepted.
Bond S ale. —I t is reported that the $35,000 of sewer bonds
which were offered by this city on November 13, 1896, have
been awarded at a premium of $1,464 70. The securities will
bear interest at the rate of 4 per cent, aDd $23,000 of the prin­
cipal will mature October 1, 1916, $6,000 October 1, 1902,' and
$6,000 October 1, 1903.
Cohoes, N. Y.—B o n d Sale. —It is reported that this place
has disposed of $15,000 of 4 per cent fire board bonds at a pre­
mium of $81.
Columbus, Ga.—B o n d E lection. —I t is reported that the
citizens of Culumbus, Ga., will vote in January on the propo­
sition to issue $350,000 of bonds for the purpose of building
water works and to retire an issue of $60,000 outstanding.
Dayton, Ohio.—B ond E lection. —It is reported that an elec­
tion will be held in Dayton to decide the question of issuing
$296,000 of bridge bonds.
Elm ira, N. Y.— B o n d Sale. —It is reported 'h at this munici­
pality has sold $19,000 of funding bonds. The securities will
bear interest at the rate of 4 per cent, and mature iu from one
to twelve years from date of issue.
•
Erie, Pa —B o n d C a ll —City Comptroller W. W. Gingrich
gives notice that fifty-two bonds of the Erie refunding loan
of 1887 are called for payment and will be redeemed at the
Keystone National Bank in that city on January 1, 1897.
Interest will cease on the same date. The securities mature
January 1, 1907, but the ci y reserved the op don to redeem
them on or after January 1, 1897.
The official notice g ivin g the num bers o f the called bonds
w ill be fo u n d am ong the advertisem ents elsewhere in th is
D epartm ent.

Far Rock aw ay, N. Y.—B ond Sale. —This village has
awarded $75,000 of 5 per ceDt 20-year sewer bonds at 110-23and accrued interest from August 1, 1896. The securities will
be dated February 1, 1898, interest will be payable semi-annu­
ally on Feb. 1 and Aug. 1 at the office of the United States
Mortgage & Trust Company in New York City, aud the prin­
cipal will ma ure February 1, 1916. The present bonded
debt of Far Rockaway is $8,000 and its assessed valuation is
$2,831,500.
F ranklin, La . —B o n d O ffering. —This city is offering
$25,000 of water-works bonds at private sale. The securities
will bear interest at a rate not to exceed 6 per cent per an­
num. payable semi annually, aud wilt run for a period not to
exceed ten years. Interest and principal will be payable in
New York City.
Green Bay, TYis.—B o n d S ale. —W. L, Kerr, City Clerk of
Green Bay, reports to the C h r o n ic l e tbat $27,000 of school
and bridge bonds were awarded, at the sale in that city on.
November 27, to Spitzer & Co., Toledo, Ohio, for §28,087 and
accrued interest. Eleven other bids were received.
Greensburg, 0 —B o n d S a le —On Dec. 1 a sale of bonds
to k place in this town at which nine bids were received.
The bonds were awarded to Die'z, Denison & Prior, of Cleve­
land, whose bid of 103 with accrued iuterest was the highest.
The securities to the amount of $50,000 were dated July 1,
1896, maturing in 1926, and payable at tne option of the town
10 years from date, and bear interest at the rate of 5 per cent,,
both principal and interest payable in gold. The bonds are
of the denomination of $500.
H artford, Conn.—B o n d O ffering. —Proposals will be re­
ceived until 3 o’clock P. M. December 9, 1896, by City Treas­
urer C. C. Strong for the purchase of $800,000 of 3% per cent
refunding Capitol bonds. The securities will be dated January
1, 1897. Interest will be payable semi-annually on the first
day of July and December at the office of the City Treasurer,
and the principal will mature January 1, 1922. The bonds
will be registered, and the denomination of the same will be
$1,000. They will be delivered on December 31, 1896. Both
principal and interest will be payable in gold. A certified.

DECEMBER 5, 1896.J

fHE

CHK0N1CLF.

check for 3 percent of the amount of bonds bid for must ac­
company each proposal.
The C ity Treasurer's advertisem ent o f this loan trill be fo u n d
elsewhere in this Department.
Houston. Texas —Bond Sale.—B. R Warner, City Secre­
tary of Houston, reports to th e C h r o n ic l e that $109,000 of
bonds for the refunding of market house bonds of 1873 have
been sold at 102, the bonds being furnished by the purchaser.
The securities are 40 year gold bonds bearing interest at 5 per
cent.
Independence, Mo .—Bonds Proposed.—An election will
probably be held in this city some time in January to vote on
the proposition to issue $75,000 of sewer bonds and $10,000 of
city hall bonds.
Kittitas County, Wash —Bond yew s.—It is reported that
X. W. Harris & Co., of Chicago, who recently purchased onehalf the issue of $190,000 bonds of this county, have decided
to take the balance.
Knox l'o„ Tenn —Bond Sale.—It is reported that Knox
County, Tenn.. has sold $315,000 of bridgd bonds for $337,900.
Lancaster, K f.- B o n d Election.—It is reported that this
city will vote on an issue of bonds to the amount of $5,000
for the purpose of obtaining a water supply by means of
artesian wells.
Lynn. Mass.—Bond Sale—II. S. French, Citv Treasurer of
Lynn, reports to the Chronicle that the $72,000 of ten year 4
percent improvement and current exoense bonds recently
authorized have been sold to the city sinking fund on a 305
per cent basis. The securities are payable on Oot. 1, 1906,

and bear interest at the rate of 4 per cent.
Manchester, N. H.—Bond Offering.—Proposals will be re­

1031

ment bonds have been awarded to Spitzer & Co., of Toledo.
O., at par. Farson, Leach & Co. of Chicago bid 98.
The securities bear 6 per cent interest and mature in from
one to six years.
Queens County, N. Y.—B o n d O ffering. —Proposals will be
received until December 8, at 12 o’clock noon, 1896, by
County Treasurer Joseph Dykes, at the County Court House,
in Long Island City, for the purchase of $275,090 of 4 per
cent road bonds. Both interest and principal will be payable
in gold. The securities will be dated November 1, 1896, in­
terest will be payable semi-annually on May 1 and November 1
at the office of the County Treasurer, and the principal will
mature November 1, 1916. Proposals must be made on blanks,
which will be furnished on application, and must be accom­
panied by a certified check for 10 per cent of the amount of
bonds bid for.
The assessed valuation of real and personal property in
Queens County, as equalized by the B >ard of Supervisors in
December, 1895, was $72,168,015 and the bonded indebtedness
of the county does not exceed $956,000.
St. Joseph County, In d —B ond Sale —At the sale of bonds
of this county on Nov. 35 $273,000 of court house bonds were
awarded to N. WT. Harris & Co. at an average price of 105'08.
The securities bear interest at the rate of 4 l| per cent, and
both principal and interest are payable at theChem ieal Na­
tional Bank, New York City, in gold or its equivalent. After
five years from their date of issue the bonds will begin to
mature at the rate of $10,000 yearly until the sum of $100,000
lias been paid, then $15,000 will mature yearlv until $305,000
of the loan shall have been paid. The remainder will mature
at the rate of $t7,000 yearly. Representatives of nineteen
banking houses were present at the sale and the competition
was close. *
Scranton, Pa.—Bond y e w s. —Itisreported thatthe Common
Council of this city are considering an act toward the issuing
of $150,000 of bonds for buildiDg a viaduct on West Lack­
awanna Avenue.
Skaneateles, N. Y.—B o n d Sale —It is reported that this
village has sold $3,000 of 4 percent 30-year water bonds at par.
Taunton, Mass.—B ond Sale —This city has sold $20,000 of
4 per cent water bonds to E C. Stanwood & Co. at 107 35.
The securities run for 25 years and 6 months. The bids
received for the loan were as follows :

ceived until December 14, 1896, at 2 o'clock P. m. bv Mayor
William C. Clark, for the purchase of $100,000 of 4 per cent
refunding water loan bonds. The securities will be dated
January ), 1997 : interest will be payable semi-annually on
January 1 and July 1 at Suffolk National Bank of Boston, and
the principal will mature January 1, 1917.
Melrose, Mass.—Bond Offering.—Proposals will be received
until 2 o eiock p. u . Dec. S, 1896, hy Town Treasurer George
Xewluill for the purchase of $50,000 of 4 per cent schoolhouse bonds. The securities will he dated February 24, 1896.
Interest will be payable semi-annually in February and
C. Stanwood & Co........ 107-35
Dietz, Denison & Prior__ 106 677
August at Boston or Melrose, Mass., and the principal will E.
W. Harris & Co. _____ 107-32
Blake Bros. & Co...............106'65
mature Feb. 24, 1916. The denomination of the bonds will be N.
L“e. H lggluson & C j........ 107-118 Parson, Leaoli & Co........... 106 575
$1,000. The total bonded debt of Melrose on Dec. 1, 1896, R. L. Day & C o .................107 069 Mason. Lewis & C o .... ...1 0 6 -5 3 9
Merritt & Co.......107-067 Tower, G iddinss & Co.......106-28
was $68*1,000, real valuation $11,434,165, and the population Blodger,
Foote & F r en ch .................106-959 Cushman, Ftsber& Pnelps.106 26
(estimated) $12,471.
Geo. A. Feruald & Co...... 106-833 Estabrook & Co............,...1 0 6 '1 3 1
Middlesex Co., Mass.—Bond Sale.—It is reported that E. H. Rollins & S o n s ........106-789 Harvey P isk & 8on s.......... 105-987
Messrs E H Rollins & Sons were awarded $170,000 of 4 per
Washington County, Md.—B o n d Sale. —It is eported that
cent 10-27 year public building bonds of tbis county at bonds of this county to the amount of $10,000 have been sold,
106139.
the securilies bearing interest at the rate of 4 per cent.
Milstadt. 111.—Bond Sale —It is reported that electricWaukesha, WIs.—B onds A u th o rized . —It is reported that
light bonds of Milstadt. to the amount of $5,000 have been building and improvement bonds of this municipality to the
stud at loo*?}. The boads bear 4 per cent interest, and ma­ amount of $12,000 have been authorized.
ture in from one to ten years from date of issue.
Wells River, Yt.—B ond Offering.—This village will issue
Newport News, Vs .—Bond Election.—A t a recent election $25,000 of bonds for the purpose of putting in water and
in this pla e the proposition to issue $3>,040 of actual bonds lights. The vo'e of the village authorized the trustees to bor­
row money and the Legislature has approved it. It is the in­
was lost.
Niagara Falls, N. Y. —Bond O ffering.- Proposes were to tention to issue a 20-year 4 per cent bond optional after
have been received by the B >ard of Public Works for the 10 years. The bonds will be dated Jan. 1, 1897, and will be
purchase of bonds and certificates of indebtedness until 8 offered any time before that date. Nelson Bailey, Village
•o'clock p. K- on December 4, 1898. The details of the bonds Treasurer.
West Hoboken, N. J .— B ond O ffering.— The Town Council
and certificates are as follow s;
School redemption bonds, Nov. 1,1896,4s, A&O, $2 >590, of West Hoboken will receive proposals until 8 P . m . on De­
due Nov. I, 1916.
cember 9, 1896, for $30,000 of 5 per cent refunding bonds.
Water redemption bonds, Jan. 1, 1897, 4s, J&J, $3,009, due
The securities will be dated January 1. 1897, and will run for
-Jan. 1. 1917.
5 years. Interest will be payable semi-annually.
Certificates of indebtedness, 5i, annually, $8,090 (ab>ut)
The certificates represent nine instalments of pivement
The official advertisem ent o f th is bond sale w ill be fo u n d
assessments and become due one each year.
elsewhere
in this D epartm ent.
Proposals must be accompanied by a certified check, pay­
West Springfield, Mass.—B onds Proposed.—It is reported
able to the city of Niagara Falls, equal to 5 per cent of the
that refunding water-works bonds cf tbis town are under
amount bid. 8. F. Arkush is the City Clerk.
North Chicago, 111.—Bowl Stile.—It is reported that bonds considers! ion.
>( North Chicago to the amount of $837,000 have bean sold to
Messrs. N. W. Harris & Co.
STA TE AND CITY DEBT CHANGES.
Oakland. Cal.—Bond Offering.—Proposals for the purchase
W e subjoin reports a s to municipal debts received since
of $140,000 of 4 per cent refunding bonds will be received by
J. W. Tompkins, Clerk of the City Couocil, at his office, until th e last publication of our S t a t e a n d Ci t y S u p p l e m e n t
5 o’clock P. m. on January 4, 1897. The bonds will be payable Some of these reports are wholly new and others cover items
at the rate of $3,500 annually, at the office of the City Treas­ of information additional to those given in the S u p p l e m e n t
urer. Bids must be accompanied bva certified check, payable
to the order of the City Clerk for 2J^ per ceDt of the amount and of interest to investors.
California.—The following statement has been corrected to
'bid. Bids less than par will not be considered.
Ohio County, W. V».—Bond Call.—It is reported that 4$£ June 30,1896, by means of an official report to the Chronicle
per cent 5 80 year bonds of this county, numbering from 10U from Levi Rsc^liffe, State Treasurer.
■to 300 inclusive, have been called for payment (December 1.)
HISTORY OF D E B T . — For history o f t h e State d e b t see S t a t e a n d
P ainesyllle, Ohio—Bond Offering.—Proposals will be re­ City S upplement o f April, 1894, page 142.
ceived until December 14, 1896, at 13 o'clock, noon, by City
LOANS—
-— Interest.— , ---------- P rincipal.----------- .
Ct. Payable. When Due.
O utstand’g
Clerk E. D. Heartwell, for the purchase of $150,000 of 5 per NAME AND PURPOSE.
Funded debt bonds, 1873........ 6 J & J ...................... $2,777,500
cent water works bonds. The securities will be dated August Depot
bonds, 1893.................. 4 J & J Jan. 1. 1912
600,000
1. 1“<96, and the principal will mature part yearly from May 1, Civil bonds of 1857.................. Interest ceased.
4,500
i 997, to July 1, 1926. Bonds will be issued in denominations
Do
1860...................
do
do
500
of $500 or $ 1,000 each.
PAR VALUE OF BO NDS.—The bonds are for $500 and $1,000.
IN TER E ST is payable at the office of the State Treasurer in Sacra­
Peoria, III.—Bond Sale—Jacob Heim, Comptroller, re'nrts to the CHRONK LEjhat $80,000 of Peoria City im prove-1 mento.

THE < HRONI LE.

1032

TO T A L D E B T .—TUo total bonded debt of the State on Juno 30,
1896, w as $2,282,500: floating debt, $367,213; total debt, $2,619,713.
T he $600,000 of Depot bonds, being in the nature of a loan to the
Harbor Commissioners, is n ot included in the to ta l indebtedness of
th e S ta te ; these bonds are payable out of a sinking fund receiving its
reven u e from m oneys collected by the San Francisco Harbor Com.
m issioners. In 1892 the total bonded debt w as $2 ,533,500; in 1888 it
was $2,703,500; in 1880 it w as $2,953,500.
Of the interest-bearing debt $2,277,500 w as in 1895 held as fo llo w s:
In trust for the State School Fund (bonds)................................. $1,526,500
In trust for the University Fund (bonds).....................................
751,000
A SSESSED VALUATIO N.—The follow ing statem ent shows the total
assessed valuation of real and personal property in the State of Cali­
fornia and the tax rate (per $1,000) for the years indicated.
V aluation.
Tax rate.
Tax rate. Tears.
Valuation.
r ears.
$4-97
$4-93 1 8 8 3 .... $765,729,430
1 8 9 1 ... .$1,205,918,403
596
608,642,036
4-34 1 8 8 2 ....
1 8 9 2 ... 1,276,810,288
659,835,762
6-55
4*46
1
8
8
1
....
1,241,231,105
1 8 9 1 ...
6-40
5*80 1 8 8 0 ....
666,399,985
1 8 9 0 ... 1,089,722,904
6*05
7
’22
618,083,315
1
8
7
5
....
1 8 8 9 ... 1,113,550,979
8-65
277,538,134
5'04 1 8 7 0 ....
1 8 8 8 ... 1,107,952,700
183,534,312
11*15
6'0S 1 8 6 5 ....
956,740,805
1 8 8 7 ...
148,193,540
6-00
5-60 I 8 6 0 ....
816,446,700
1 8 8 6 ...
6-00
103,887,193
5-44
1
8
5
5
....
859,512,384
1 8 8 5 ...
5-00
57,670,689
4-52 1 8 5 0 ....
821,078,767
1 8 8 4 ...

[V

ol.

by means of an official report to the Chronicle .

L X III.

P. J. Mul-

holland is City Treasurer.
This city is in Chatauqua County.
LO ANS—
A m t. O utsland’o.
Artificial defense b o n d s.. $1,073
E lectric ligh t bonds.........
3,000
F un d el debt bonds...........
5,919
Steam road roller bonds.
3,300
Street im provem ’t bonds. 100,067
Town bonds........................
61,000
Water bon d s....................... 147,600
Bonded debt Feb. 2 1 / 9 6 . 321,959

Floating d“b t.................... $13,892
Total debt Feb. 2 1 ,1 8 9 6 . 335,851
Cash on band.....................
24,851
Total valuation 1 8 9 3 ___ 1,717,845
Assessm ent same as actual value.
City tax (per $1,000)...............$8'62
Population in 1890 w as....... 9,416
Population in 1880 w as....... 7,248
Population 1894 (local est.).10,022

Mew Brunswick, N. J .—The following Btateromt of this
city’s debt and general financial condition has b‘e i corrected
by means of an official report received this we.jk from City
Treasurer J. Bayard Kirkpatrick. New Brunswick is now
offering bonds to the amount of $78,760.
This city is situa'ed in Middlesex County.
LOANS—
W hen D u e
LOANS—
W hen Due.
R ev en u e B o nd s—

4s, M & N , $ 4 3 , 0 0 0 . . . . --------------------S in k in g F u n d B o n d s —

6 s , M A S , $ 1 1 , 0 0 0 . . S e p t. 1 , 1 9 0 2 - 3
6s, M AS,
4 1 , 0 0 0 . . 1 9 0 1 , ’0 2 & ’0 3
6s, J & J , 1 4 1 , 5 0 0 .- 1 9 0 5 & 1 9 0 6
5 s , M & N , 4 5 , 0 0 0 . .M a y 1 , 1 8 9 7 - 8
5s, M & S,
2 2 , 0 0 0 . . S e p t. 1 , 1 9 0 1 -2
5 s , M & S,
2 5 , 0 0 0 . . S e p t. 1 , 1 9 0 2 -3
5s, J & J ,
1 5 ,0 0 0 J a n . 1 ,1 9 0 5 -6
H a s , M & N , 1 2 ,0 0 0 ..M a y 1 ,1 9 0 7 -8
4 k js , A & O , 0 5 ,0 0 0 . .O o t. 1 , 1 9 1 9
4 l a s ............. 6 5 , 0 0 0 ...............................
4 s , M & N , ' 6 5 , 0 0 0 .. 1 9 0 7 & 1 9 0 8
4 s , M &S, T O ,0 0 0 . . M a r .,
1 9 0 7 -8
3 s , M & N , * 1 0 ,0 0 0 . .N o v . 1 , 1 9 0 8 - 9
3 s , M & S, * 4 0 ,0 0 0 . . 8 e p t . l , 1 9 1 7 -1 8

Street & S ewkr B o n d s - ! Omit.)
7s, M&N, $14,600.-1898 & 1809
6s, M&N, 2 2 9 ,000.. 1898 & 1899
6s, M&N, 3 0 ,0 0 0 ..1 8 9 9 & 1900
Gs. M&N, 1 9,500.. 1900 & 1901
6s, M&N, 18,500 .1901 & 1902
6s, M&N, 2 4 .0 0 0 ..1 9 0 2 & 1903
6s, M&N, 37,000. .1903 & 1904
6s, M&N,
5 0 0 .. 1904 & 1905
6s, M&N, 4 .5 0 0 ..I9 0 5 & 1906
6s, M&N, 1 ,0 0 0 .. 1906 & 1907
6s, M&N, 11,5 0 0 ..1 9 0 7 & 1908
Water B o n d s 78, M&N, $ 4 2 ,0 0 0 ..M ay 1,1897-8
7s, M&N, 5 0 ,0 0 0 ..Mch. 1 ,1898-9
7s, M&N, 5 0 ,0 0 0 ..Mch. 1, 1903-4
7s. M&N, 2 3 ,5 0 0 ....Nov. 1 ,1 8 9 6
($5,000 due yearly) to Nov. 1, 1000
7s, M&N, 4 0 ,0 0 0 ....Nov. 1, 1896
($10,000 d u ey ’rly) toN ov. 1 ,1 8 9 9

D EB T LIMITATION.—Municipal indebtedness as w ell as State debt
is carefully regulated In the Constitution of California. The section
which relates to the bonding of counties, cities, tow ns, etc., has been
amended, the am endm ent having been adopted February 25, 1891.
Nothing in explanation of the provisions needs to be said, as tile see
tions of the Constitution treating of this subject are all very plain and
comprehensive; they w ill bo found in the S t a t e a e d C i t y S u p p l e ­
m e n t of April, 1895, page 146.
PO PULATIO N OF S T A T E .—The population of California has been
. St r e e t a n d Se w e r B ondsas follow s in the years named.
78. M & N .$ 1 1 8 , 2 0 0 . . . . 1 8 9 6 & 1 8 9 7
1890 .............. 1,208,130 I 1870............. 560,247 I 1850.............
92,597 7 s , M & N , 2 0 7 , 5 0 0 . . . . 1 8 9 7 & 1 8 9 8
1880 ............ 864,694 | 1860............. 379,994 |
'T h e bond issues marked thus (*) in the above table are all held by
In 1860-70 increase w as 180,253, or 4 7 ’44 per cent; in 1870-80
304,447, or 54-34 per eent; and in 1880-90 343,436, or 39-72 per cent. th e sinking fund.
TAX F R E E .—The city’s bonds are exem pt from taxation .
The number of Chinese in the population w as 71,681 in 1890 and
IN TER E ST on the w ater bonds, w ith the exception of the last tw o
75,132 in 1880.
issues listed in the above table, is payable at the Ninth N ational Bank,
D unkirk, N. T.—Charles E. Hequembourg, Mayor. The New York City. A ll other in terest at the National Bank of N ew Jersey
following statement has been corrected to February 21, 1896, in New Brunswick.

NEW

LOANS.

M U N IC IP A L BONDS
OF TH E

CITY of HAR TFORD, CONN.

N E W LOANS.
$ 7 8 ,7 6 0

MEW LOANS.
$

2

0

, 0

0

0

City of New Brunswick, N. J.,

M ille r s Falls, Mass.,

BONDS.

30-Year 4 per cent Water Bonds

FO R

DUE

Refunding Capitol Bonds.

1921.

PAYABLE

DECEM BER

1,

1926.

P r o p o s a l s w ill b e r e c e i v e d b y t h e F i n a n c e C o m ­
Off ic e o f
)
M i l l e r s F a l l s W a t e r C o m m is s io n e r s ,
>
S e a le d p r o p o s a ls w ill b e r e c e i v e d b y t b e T r e a s u r e r , m i t t e e a n d C i ty T r e a s u r e r a t t h e office o f t h e C ity
M il l e r s F a l l s , M a s s ., N ov . 14,1896. )
T r e a s u r e r , 356 G e o r g e S t r e e t , N e w B r u n s w ic k , N . J .
a t h i s office i n t h e C ity o f H a r t f o r d , u n t i l
I n p u rs u a n c e o f t h e a u th o r ity g iv e n b y C h a p te r
W E D N E S D A Y , T H E 9 T H D A Y O F D E C E M B E R . u n t i l o n e o ’c lo c k P . M .,
150, A c t s o f M a s s a c h u s e tt s , 1896, t h e u n d e r s i g n e d
T U E S D A Y , D E C E M B E R 15, 1896,
1890, a t 3 o ’c lo c k P . M ., f o r t h e p u r c h a s e o f t h e w h o le
w ill r e c e i v e p r o p o s a ls u n t i l 12 o ’c lo c k M . D e c e m b e r
o r a n y p a r t o f t h e a b o v e - n a m e d b o n d s , a m o u n t i n g F o r t h e p u r c h a s e in w h o l e o r i n p a r t o f $78,760 o f
7 t h f o r t h e w h o le o r a n y p a r t o f t h e a b o v e - m e n ­
t h e B o n d s o f t h e C i ty o f N e w B r u n s w ic k , N . J . T h e s e
t o E i g h t H u n d r e d T h o u s a n d D o l l a r s ($80<‘,000).
t io n e d lo a n . T h i s lo a n o f $20,000 w ill b e is s u e d i n
T h e s e b o n d s a r e is s u e d u n d e r a u t h o r i t y o f a r e s o ­ B o n d s w ill b e is s u e d t o r e f u n d m a t u r i n g b o n d s .
R e g i s t e r e d o r C o u p o n B o n d C e r ti f ic a te s o f $1,000
l u t i o n o f t h e G e n e r a l A s s e m b ly o f t h e S t a t e o f C o n ­ I n t e r e s t p a y a b le M a y 1st a n d N o v e m b e r 1 s t a t t h e
e a c h o r a n y m u lt ip l e t h e r e o f a n d w ill b e p a id D e­
n e c t i c u t a t i t s J a n u a r y s e s s io n A . D . 1896, e n t i t l e d a N a t io u a l B a n k o f N e w J e r s e y . T h e b o n d s w ill h e
c e m b e r 1 ,1 9 2 6 , w i t h i n t e r e s t , a t t h e r a t e o f 4% p e r
r e s o l u t i o n “ A u t h o r iz i n g t h e C ity o f H a r t f o r d t o p a y a b le N o v e m b e r ' s t , 1921, a n d w ill b e a r i n t e r e s t a t
a n n u m , p a y a b le s e m i - a n n u a l ly i n A p r il a n d O c to b e r
i s s u e M u n ic ip a l B o n d s ,” a n d a v o t e o f t h e C o m m o n a r a t e t o b e f ix e d a c c o r d i n g t o t h e b id s , a n d w ill h e
a t t h e office o f W a t e r C o m m is s io n e r s .
C o u n c il o f t b e C ity o f H a r t f o r d , d u l y p a s s e d N o v . d e li v e r e d o n J a n u a r y 2, 1897, w h e n t h e p r ic e b id
T h e C e r tif ic a te s w ill b e a r t h e d a t e s o f D e c e m b e r 1,
2 3 ,1 8 9 0 , a n d a r e f o r t h e p u r p o s e o f r e f u n d i n g C a p ito l m u s t b e p a id b y t h e s u c c e s s f u l b id d e r s .
1896, a n d t h e i n t e r e s t is t o b e g in o n t h e d a t e o f i s s u e
P r o p o s a l s s h o u ld h e s e a l e d a n d a d d r e s s e d t o t h e
B o n d s m a t u r i n g J a n u a r y 1 .1 8 9 7 .
o f t h e C e r tif ic a te s f o r t h e s a m e a n d c e a s e a t t h e d a t e
T h e s e B o n d s a r e r e g i s te r e d a n d a r e i n d e n o m i n a ­ C ity T r e a s u r e r , a n d m a r k e d “ P r o p o s a l s f o r B o n d s ,’,
t h e y a r e m a d e p a y a b le —D e c e m b e r 1 ,1 9 2 6 .
t i o n s o f O n e T h o u s a n d ($1,000) D o l l a r s e a c h ; p r i n ­ a n d s h o u ld s t a t e t h e p r ic e a n d t h e r a t e o f i n t e r e s t a t
H o l d e r s o f t h e s e C e r tif ic a te s , i f t h e y s o d e s ir e , c a n
c ip a l a n d i n t e r e s t p a y a b le i n g o ld c o in o f t h e U n ite d w h ic h t h e b i d d e r p r o p o s e s t o t a k e t h e b o n d s , a n d
re c e iv e th e s e m i-a n n u a l in te r e s t th ro u g h t h e m a il
S t a t e s o f t h e p r e s e n t s t a n d a r d o r w e i g h t a n d f in e ­ m u s t b e a c c o m p a n ie d b y a c e r t if i e d c h e c k f o r 5 p e r
p a y a b le t o t h e i r o r d e r .
n e s s , a r e m a d e d u e a n d p a y a b le a t t h e o ffice o f t h e c e n t o f t h e i r a m o u n t .
T h i s l o a n w ill b e s e c u r e d b y a S i n k in g F u n d p r o ­
I t i s p r o p o s e d t o is s u e e n g r a v e d c o u p o n b o n d s o f
T r e a s u r e r t w e n ty - f iv e y e a r s f r o m J a n u a r y 1 ,1 8 9 7 ,
v i d in g f o r t h e p a y m e n t o f t h e s a m e a t m a t u r i t y
w i t h I n t e r e s t a t t h r e e a n d o n e h a l f (3 14) p e r c e n t p e r $1,0'j 0 e a c h . B o n d s m a y h e r e g i s te r e d
P ro p o s a ls m u s t b e s e a le d a n d a d d re s s e d t o J . E .
T h e b o n d s a re a u th o riz e d b y a n a c t o f th e L e g isla ­
a n n u m , p a y a b le s e m i - a n n u a l ly o n t h e f ir s t d a y o f
K a v e n a u g h . S e c r e t a r y , M ille r s F a l ls , M a ss ., e n d o r s e d
t u r e a p p r o v e d F e b r u a r y 1 8 th , 1879, a n d b y r e s o l u ti o n
J u l y a n d t h e f ir s t d a y o f J a n u a r y , in e a c h y e a r .
“ P r o p o s a l s f o r L o a n .”
P a y m e n t s t o h e m a d e a n d b o n d s d e l i v e r e d D e c e m ­ o f C o m m o n C oudciI, J u l y 6, 189*, a n d a r e f r e e f r o m
A ll p r o p o s a l s w ill b e o p e n e d b y t h e u n d e r s i g n e d in
b e r 3 1 s t, 1 8 * 0.
m u n ic ip a l, c o u n t y o r St a t e t a x in N e w J e r s e y .
t h e o ffice o f t h e C o m m is s io n e r s , S a t u r d a y , D e c o m ­
T h e r i g h t t o r e j e c t a n y o r a ll b id s is r e s e r v e d .
T h e r ig h t is re s e rv e d b y th e T r e a s u r e r to r e je c t a n y
b e r 1 2 th , a t 7:30 o 'c lo c k P . M .
F o r f u r t h e r p a rtic u la rs a d d re s s
o r a ll b id s if, in h is o p in io n , t h e i n t e r e s t o f t h e c ity
T h e r i g h t t o r e j e c t a n y a n d a l l p r o p o s a l s is r e s e r v e d
J.
B A Y A R D K IR K P A T R IC K ,
r e q u i r e s it.
J . E . K A V E N A U G H , S e c re ta ry .
T r e a s u r e r o f t h e C ity o f N e w B r u n s w ic k , N . J .
P r o p o s a ls —l e s s t h a n p a r w ill n o t h e c o n s i d e r e d m u s t b o e n d o r s e d o n e n v e lo p e “ P r o p o s a l s C ity o f
356 G e o r g e S t r e e t .
H a r t f o r d B o n d s .”
F o r s t a t e m e n t o f t h e f in a n c ia l c o n d it i o n o f c it y s e e
A c e r tif ie d c h e c k f o r 2% o f a m o u n t b id f o r m u s t a c ­
t h e S t a t e a n d C i t y S u p p l e m e n t o f O ct o b e r , 1896,
c o m p a n y e a c h b id .
C. C. S T R O N G ,
p a g e 65.
C ity T r e a s u r e r .
H A R TFO R D , C o n n ., N o v e m b e r 2 5 , 1890.

N O T ICE OF R E D E M P T IO N .

C I T Y of E R I E B O N D S .

W. N . Coler & Co.,
BA N K ER S.

D es M oines, l a . , S ch o o l...................
4^s
M uskegon, M ich ., F u n d in g .........................5*
A shlan d , W in., F u n d in g...............................5 s
B u rlin gton , VVis., S c h o o l............................5 s
W a tse k a , III., School ..................................5 s
R ock R ap id s, la .. S ch o o l............................5a
Sh erm an. T e x a s, F u n d in g .......................... 6 s
F o n d a , l a . . W a t e r .............................................Os

M U N IC IP A L BONDS.
34 NASSAU STREET.

f o r

sa le

b y

M A S O N , LEWIS & CO.,
ba nk er s,

3 1 S tate S t .,
BOSTON,

1 7 1 L a S a lle S t.,
C H IC A G O .

C i t y C o n t r o l l e r ’s O f f i c e , >
E f tl E , P A .. N o v . 2 3 .1 8 9 6 . J
T h e S i n k in g F u n d C o m m is s io n e r s o f t b e C ity o f
E r i e w ill r e d e e m , J a n u a r y 1 s t, 1897, a t t h e K e y s t o n e
N a t io n a l B a n k o f E r ie , P a . , t h e f o llo w in g b o n d s o f
t h e C ity o f E r ie , P a . , f r o m t h e i s s u e o f J a n u a r y 1 s t,
D 8 7 , r e d e e m a b l e a t t h e o p t io n o f t h e C i ty o n a n d
a f t e r J a n u a r y 1 s t, 1S97, a n d d u e J a n u a r y 1 s t, 1907 :
N u m b e r s 1, 2, 3, 4, 5, 6, 7, 8, 9 ,1 0 ,1 1 , 12, 13, 14, 15, 31,
32, 33, 34, 35, 30, 37, 38, 30. 40, 41, 42, 13, 44, 45, 46. 47«
48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 03,
201, 202, 203 a n d 205.
I n t e r e s t w ill c e a s e o n t h e f o r e g o i n g n u m b e r s o f
b o n d s J a n u a r y 1 s t, 1897.
W . W . G I N G R I C H , C o n t r o ll e r .

THE CHRONICLE

D ecember 5, 1896.]

TO T A L D E B T , SINKING FU N D , Etc .—The subjoined statem ent
•how s New Brunswick's total m unicipal debt, tlie sinking fund held by
the city against the sam e, the water debt, and the city’s floating debt
the dates mentioned.
A p r.1,1896. Apr. 1,1895. .ipr. 1,1891.
Total municipal d eb t.......................$1,574,800 $1,581,800 $1,585,600
Sinkrmr f unds and cash a ssets___
397,593
362,360
329,324

1033

Oklahoma Territory.—The following statement has been
corrected to July 1, 1896, by means of the annual report of
the Governor to the Secretary of the Interior,
Guthrie is the capital.

LOANS—
-— Interest.— . ----------- P rincipal.----------,
NAME AND PURPOSE.
P. Ct. Payable. When Due. O utstand'q.
School b on d s............................... 6
.........
30 years.
$48,000
Subject to call in 10 years.
The bonds were issued for the erection of the Territorial U niversity,
Territorial Normal School and Agricultural and M echanical College.
TO T A L D E B T .—The bonded debt of the Territory on Ju ly 1, fS9S ;
CITY P R O PE R T Y .—The city ow n s publio buildings, steam tire was $48,000; outstanding warrants, $163,241; total debt, $211,241.
engines, etc., and w ater works which cost $493,000. Tne gross earn
A SSESSED VALUATION for 1896 was $24,815,711; ta x rate (per
Ings from the water works for the year 1895 w ere $54,835, includ­ $1,000) $4-60. Property is assessed at 60 per cen t of its actual value.
in g rental o f lire hydrants; the cost and m aintenance w as $12,778,
The follow ing table shows the assessed valuation by counties for
lea v in g a net income for the year of $42,057.
the year 1896 compared w ith 1895 and 1894.
C ounty—
1896.
1895.
1894.
A SSE SSE D VALUATIO N.—The eity's assessed valuation and tar
B eaver..........................
$625,168 00
$978,104 15
$384,288 58
r ate have been as fo llo w s:
B laine...........................
273,274 00
451,204 80
26C.141 00
Real
P ersonal
Total A ssessed Rate o f Tax Canadian...................... 2,525,718 23
8,816,650 01
1,889,63157
Estate.
Property.
Tear.
V aluation.
p e r $1,000 C leveland..................... 1,642,055 77
2,045,583 52
1,389,008 10
ISO5 ..
..$8,120,000
$2,105,000
$10,225,000
$26-00
D .....................................
153,276 00
244,192 50
90,757 00
1904
... 8,058,500
2,150,000
10,208,500
26-20
D a y ................................
189,782 38
344,139 00
151,950 58
2.160,000
1893... ....... 8,040,000
10,200.000
24*80
G .....................................
284,354 00
327,987 40
147,207 00
1892 .. ....... 7,900.000
2,110,000
10,010,000
Garfield........................
9 6 1 ,4 5 3 1 6
1,379,330 69
790,617 59
25-00
1891... ....... 7,930,000
2,110,000
10,040,000
24*20
G rant.............................
7 5 5 ,8 1 4 1 4
1,043,620 63
808,829 22
2,150,000
1890 . ....... 7,900,000
10,050,000
24-60
K ay................................ 2,451,068 40
2,803,420 04
962,997 00
1886 ___ 4.062.455
1,325,850
5,388,305
41*40
KingHsher.................... 1,444,892 06
2,039,141 70
1,562,038 43
1880 .. ....... 4.173,000
1.243.000
5,416, OOO
35-81
Lincoln.........................
814,891 50
1,084,329 45
648,734 00
3,889,362 03
2,950,619 89
PO PU LA TIO N .—In 1890 population was 18,603; in 1880 it was Logan............................ 2,730,512 12
Noble.............................
902,554 53
1,518,177 35
966,563 16
17,166; In 1870 It was 15.058; Police census, 1894, 20,338. Popula­ O klahoma.................... 3,342,583 04
4,575,520 44
3,279,886 25
tion In 1895 according to local figure* is 20,000.
P aw n ee.........................
784,669 00
1,608,78125
185,853 00
P avne............................
989,242 01
1,385,341 70
958,077 57
K e r s h a w County, S. C.—J. B. Pbelps, County Supervisor. P ottaw atom ie.............
952,084 50
1,029,746 00
658,343 00
Roger M ills..................
264,575 00
345,988 65
256,2< 9 00
The following statement has been corrected to November 24. W
ashita............ *..........
287,826 00
395,411 90
193,604 00
1,065,596 80
1,558,758 60
682,206 78
1894, means of a special report to the C h r o n ic l e from D. C. Woods....................
Woodward...................
7 0 3 ,8 5 0 1 2
1,410,397 40
7 2 0 ,3 7 8 14
Kirltlev, Auditor. Bonds ere exempt from taxation.
........................
670,470 00
__________
______ ___
Net d eb t...................................... $1,177,207 $1,219,440 $1,256,276
water debt, included above........... 205,500
220,500
235,500
Floating debt (inclu d ed ab ove)...
13,000
25,000
30,000
The to ta l debt of the city In 1885 w as $1,618,619; sinking fund and
cash, $57,519; uet debt, $1,361,100.

C o u c fy

feat is Camden.

T otal.......................$24,815,711 36 $39,275,189 21 $19,937,940 86
LOANS—
trhctt f>ur. I Total valuation 1806...$2.790,580
R sii noun B o m —
A ssessm ent nliont 95 per cent of l P O P U L A T IO N —Tlie population of the Territory in 1890 w as
61,834. The lo st census, taken in 1894, siiowed a population of
7*. J A J , $ 5 0 ,0 0 0 ....... Oct. 21, 1912 ' actual value.
7 s. JAJ, 50.000. . .Jan. 2 4 ,1 9 1 3 I State & eo. ta x (per$l,0O0>.$10-75 i 212.000. According to the reports of the A ssessors the population has
Total debt Nov. 2 4 ,1 8 9 6 $100,000 School tax iper $1.000)....... 3 00 I lueri used in 1896 to 275,587. Below is a statem ent b y counties for
Tax valuation, real .......1.912.700 j Population In 1 8 9 0 w a s .....22,361
Tax valuation, personal. 877,880 | Population in 1880 wag....... 21,538 the latter year.

NEW

N E W LOANS.
s

i h

,

o

o

s a

o

o

LOANS.

N E W LOANS.

. o

$ 2 0 0 ,0 0 0

o

o

ASBURY PARK, N. J., W E S T HOBOKEN,N J. B A L T I M O R E
5

Sealed proposal* will be received by th e Town
S n i M prr>p**als *111 N rvestved by th e R 'lm utb Council o f th e Town o f W e d H oboken, H udson
o f A sbory l*mrk until o»> n o f Monday, D ecem ber 7th. County, N. J„ at the T ow n H a ll, Clinton A v en u e and
iKM, for the parch*** o f th e issu e o f $48,000 o f Charles S treet, u ntil W ednesday, D ecem ber 9th*
Water Bond* o f th e Bomuffh o f A sbury Par*, of IMX1, at eigh t o ’clock P. M., fo r th e purchase o f an
d a i* De c e m ber l* t. WM. o f th e denom ination o f issu e o f T hirty Thousand Dollars o f th e corporate
V ice Hundred L i l i a n each , payable In th irty years, bonds o f th e tow n made In part redem ption o f ma­
with Internet i t th e rat* o f fly* per centum per turing bonds.
annum , reyab le ternt annually J u n e tin t and D e­
T h e said bonds w ill be sold to th e person or corpo­
cem ber flrar.
ration that w ill tako or purchase th e sam e on term s
Proposal* •hail be teale-1. addressed to th e Chair­ deem ed by th e Council to be advantageous to th e in ­
man o f tb e fin a n c e C om m ittee, In care o f Wra. C. tere sts o f th e to w n ; said bonds will be in denom ina­
Berrmurb«. Clerk, No. 9 9 Main 8tr**t. Anbury Dark, tion* o f One T h ou san d Dollars each (m aking thirty
S . J.. and endorsed ** Propose!* fo r Bond*."
bonds o f One Thousand Dollars each ); w ill bear date
GKO. F. KHORHL. Chairman.
January 1, 1897, and be payable In five years from
SAM'L W. KIRK BRIDE.
date and will bear Interest at th e rate o f five per cent
J A * A . BKADLKY.
per annum , and will have coupons attach ed for each
FHianeeCVenmlttee o f th e B<-r ujtb o f Aebury Park. h alf-year’s interest.
T h e Tow n Council reserves th e right fo treject any
bid If deem ed fo r th e Interest o f th e tow n so to do.
In case th e bonds are not ta k en by th e successful
bidder w ithin fou rteen days a fte r th e sam e are
aw arded to him th e Council may an nu l th e acceptNotice of Redemption.
■?ice o f hi* proposal and rej'*'* hi- • and award
th e bond s to som e oth er person or corporation.
MA T O R ’S O m C T ..
{
By order o f th e Town Council o f th e T ow n o f
ST. Loris, Ju ne 27th, 1*4W, J
W est Hoboken.
To whom it m a y concern:
JO H N P . McMAHON,
Utotlee t* hereby given that th e bond* o f th e City
Tow n Clerk.
o f S t. Lout*. issued under au thority o f ordinance
No. 12.4*5. num bered from n in ety -sev en hundred
and n in ety -th ree <971M) to r Inety-eight hundred and
eig h ty -tw o <9P*2», b oth In rlu d ve, will be redeem ed
M il l s
&
B lanchard,
on th e **rwri)d day o f January, eigh teen hundred and
nln*tj-*WT*n. pursuant to th e term* o f said ordi­
BANK ERS
n ance So. I’M * , and th e term * exp ressed In said
bond*, and that Mild bond* w ill cease to bear Interest
on said
>nd «lay o f January, 1997. Said bond* arc
dated J u ly M. I**«3. are payable Ju ly 2d, 1903, and
are redeem able at th e option o f th e C ity o f St. Louis
BOUGHT A N D SOLD.
a l any t >me a fter ten year* from th eir d ate.

C IT Y o f S T .L O U IS ,M O .

M U N IC IPA L BONDS

Each o f said bond*, w hen
tion . m art h a r e th e th irteen
tjttereet «*at»p«m*, num bered
fn etr, lnrla«tve. attach »d.
T h ese bond* are called In
m an en t retirem ent.

..........

presorted fo r redem p­
unearned sem i an nu al
from tw en ty -eig h t to

C. P. WALBRIDGE,

R e g is te r .

S ta te

S tr e e t,

D e n o m in a t io n s o f $100 o r m u lt ip l e t h e r e o f . I n t e r ­
e s t p a y a b le a t t b e M e r c h a n ts N a t io n a l B a n k o f B a l ­
tim o r e , a n d f r e e f r o m n i l t a x e s in t h e S t a t e o f
M a ry la n d .
A c c o r d in g t o t h e F i n a n c i a l C h r o n i c l e t h e d e b t
o f t h e C ity o f B a l ti m o r e n s o f J a n u a r y 1 s t, 1896, w a s :

Bonded D ebt (w ater debt in clu d ed )........... $32,437,818
Sinking Fand and o th er a s se ts. ------ — 17,516,198
N et debt January 1st, 1896..............................$14,922,620
T otal w ater debt (included in n et debi)
1896...................................................................... $6,600,000
A ssessed V aluation (80£ o f a ctu a l)...........$325,744,388
P R IC E A N D F U R T H E R P A R T IC U L A R S
ON A P P L IC A T IO N TO

DIC K B R O T H E R S & C O .
30 Broad Street, Nexv York.
423 W alnut Street, Philadelphia.

Farson, Leach & Co.,

B u ild ing.

B o u to n ,

M a ss.

C. H. Van Buren & Co.,

BONDS.
CORRESPONDENCE

S O L IC I T E D .

B A N K E R S AND B R O K E R S,

Mayor.

62
Comptrol ler.

If. J. Pococv,

D evon sh ire

I«

REGISTERED 3%% IMPROVEMENT
BONDS. DATED JULY 1st, 1896,
INTEREST JANUARY AND
JULY, PRINCIPAL DUE
JANUARY 1st, 1940.

for th e purpose o f per­

£ I* 8* :
*....... Is a a c H, S t t r o e o x ,
A ttest

CITY

5% TO W N BONDS.

W A TER BONDS.

BR O A D W A Y , N E W YORK
STOCKS. BONDS ANT) HIGH-GRADE
INVESTMENT SBCURIT!ES.

C ir c u la r L e t t e r , i n c lu d in g l i s t o f s e le c te d B o n d s
M a ile d F r e e .

Chicago*

115 D earborn S treet,

N ew York*
2 W a ll S tr e e t.

rHE CHRONICLE

1034
Pop.
4,778
6,415
12,837
13,006
2,086
611
5,296
16,092
16,575
*8,500
16,959
15,346
16,542

C o u n ty -

B e a v e r __
B la in e.......
Canadian..
Cleveland.
D ................
D a y ................

G arfield. . .
G r a n t .........

Greer.........
K a y ................
K in g fis h e r.
L i n c o l n ___

Pop.
County—
L o g a n ................................... 19,995
N o b le.................................... *13,102
Oklahoma............................ 19,999
F a v n e ................................... 11,192
8,293
17,300
1,267
Roger M ills.........................
5,104
W ashita................................
W oods................................... 20,805
W oodw ard.......................... '7,187
R eservations...................... 12,500
T o ta l.............................. 275,587

* Census of 1894.

In his report to the Secretary the Governor says: ‘ ‘In order
to gain a correct understanding of this table it must be borne
in mind that in 1895 the Territorial board of equalization,
finding that the taxable property of the Territory had b een
assessed in many counties far below its real value as required
by law, and finding great inequality in the different counties,
assumed for a standard the county of Kingfisher and equal­
ized all other counties by that standard. The result was a
general rise in the taxable property of the Territory to $39,275,189 21, as shown by the table. This action of the Equali­
zation Board was attacked in the courts, but has recently
been sustained by the Supreme Court. The case was, how­
ever, still pending when the equalization board met in June,
1896, and the board not desiring to permit the tax of 1896 to
be called in question merely certified back the assessment as
it had been returned by the counties. This is very much
under the true value of the property, but for the reason stated
the board permitted it to stand.”
Marathon County, Wis.—The following statement has been
corrected to date by means of a special report from County
Treasurer Carl F. Paff.
County seat is Wausau,
LOANS— ‘
W hen Due. T ax valuation, real, ’96.$3,806,275
Total valuation 1 8 9 6 ... 5,030,090
A sy lu m B onds—
5s, J&D, $ 8 0 ,0 0 0 ..June ’99 to ’18 Total valuation 1 8 9 5 ... 5,217,623
A ssessm ent about %actual value.
($4,000 due yearly)
Population in 1890 w as.......30,369
Interest payable In Wausau.
Total debt Nov., 1 8 9 6 .... $88,000 Population in 1895 w a s— 36,598

N E W LOANS.

Canton, Mass.—The follow ing statem ent has been com­
piled from a special report to the Chronicle .
Canton is in Norfolk County.
LO ANSWlien Due. Bonded debt Dee. 1, ’96. $158,000
W a ter B ond s—
Tax valuation, real.........2,001,605
4s, J&J, $4,0 0 0 .......... Tuly 1 ,1 8 9 7 Tax valuation, personal.1,347,325
4s, J&J, 100.000.......1898 to 1917 Total valuation 1 8 9 6 __ 3,948,930
($5,000 due yearly ou Ju ly 1.)
A ssessm ent about :,i actual v a lu e .
4s, J&J. $ 3 6 ,0 0 0 ....... 1918 to 1923 Total tax rate (per $1,000) ,$ 1 6 ’80
($6,000 due yearly on Ju ly 1.)
Population in 1890 w a s..........4,538
4s, J&J. $ 14.000 ....... 1924 to 1925 Population in 188o w a s..........4,516
($7,000 due yearly on .1illy 1.)
Population in 1896 (est.)___4,700
4s, J&J, $ 4 ,0 0 0 ...
Ju ly 1, 1926
IN TER E ST is payable at the town treasury.

Kittitas County, Wash.—The following statement has been
corrected to July 1, 1896, by means of an official statement to
the Chronicle from J. M. Baird. Auditor.
County seat is Ellensburg.
LO ANS—
m ie n Due. T ax valuation, real....... $ 2 ,551,75 0
C o u n t y B o n d s , 1895—
T ax valuation, p erson !
819,336
6 s......... $81,000.........................1915 Tax valuation, railroads 665,751
Subject to call after 1905
Total valuation 1 8 9 6 ... 4,036,83 7
F u n d i n g B o n d s , 1892—
State & Co. ta x (p. $1,000).$19'3 0
6s, ann., $78,000........Mar. 1, 1912 Population in 1892 w a s..........8,062
Subject to call after Mar. 1, 1902 Population in 1890 w a s..........8,777
Total debt July 1 ,1 8 9 6 ..$ 1 6 9 ,0 2 8 Population in 1895 (est.)........9,000
Total resources.................. 81,000

Windsor Lochs, Conn.—The following statement has been
corrected to September 18, 1896, by means of a special report
to the C h r o n i c l e from James D. Outerson, Treasurer.
This town is in Hartford County. All bonds are tax free.
LOANS—

Sinking fun d ....................
$20,071
N et debt Sept. 18, 1896
44,828
Tax valuation 1896....... 1.646,164
School Loan—
A ssessm ent about % actual value.
6s, F&A, $ 1 0 ,0 0 0 ........Feb. 1, 1897 Tax rate (per $1,000)............ $10'00
Bonded debt Sept. 18, ’96. $45,000 Population in 1890 w a s..........2,758
Floating d e b t....................... 19,899 Population in 1880 w a s ..........2,332
Total d eb t.............................. 04,899 Population in 1896 (est.)........3 ,00 0
* The bonds of this tow n are secured by a special ta x of 10 m ills on
the assessed valuation.

N E W LOANS.
Sale of Bradford County Bonds.

OF TH E

T h e u n d e r s i g n e d , C o m m is s io n e r s o f t h e C o u n t y o f
B r a d f o r d a n d S t a t e o f P e n n s y lv a n i a , a r e l e g a lly a u ­
t h o r i z e d to a n d w ill i s s u e a n d s e ll t o t h e h i g h e s t a n d
b e s t b i d d e r f o r t b e s a m e in e x c e s s o f t h e i r p a r o r
f a c e v a l u e e a c h , $50,000 00 o f t h e r e g i s t e r e d a n d
c o u p o n b o n d s o f t h e s a id c o u D ty , d a t e d J a n u a r y 1,
1897, d u e J a n u a r y 1, 1902; a ls o $ 1 00,000 o f s im ila r
b o n d s o f t h e s a m e d a t e a n d d u e J a n u a r y 1, »907.
T h e s e b o n d s a r e t o h e p a y a b le in g o ld o f t h e p r e s ­
e n t f in e n e s s o r i t s e q u i v a l e n t w i t h i n t e r e s t a t 4 p e r
c e n t p e r a n n u m , p a y a b le s e m i - a n n u a l ly a t t h e office
o f t h e T r e a s u r e r o f s a id C o u n ty in T o w a n d a , o r a t
t h e o ffice o f U . S. M o r tg a g e & T r u s t C o m p a n y , N e w
Y o r k C ity , a s t h e h o l d e r o f s a id b o n d s m a y e le c t , a n d
f r e e o f a ll t a x e s le v ie d w i t h in s a id S t a te .
S e a le d p r o p o s a ls o r b id s f o r t h e p u r c h a s e o f s a id
b o n d s o r o f a n y p o r t i o n o f t h e m w ill b e r e c e i v e d b y
t h e u n d e r s i g n e d a t t h e i r office i n T o w a n d a , P a ., u p
t o 1 o ’c lo c k p . m ., T u e s d a y , D e c e m b e r 8, 1896. T h e
b o n d s w ill b e is s u e d i n d e n o m i n a ti o n s o f n o t le s s
t h a n *2o0, t o s u i t t h e p u r c h a s e r o r p u r c h a s e r s . T h e
r i g h t t o r e j e c t a n y o r a ll b id s is r e s e r v e d .
A ll b id s m u s t b e a c c o m p a n ie d b y a c e r t if i e d c h e c k
o r N e w Y o rk d r a f t t o t h e a m o u n t o f 5 p e r c e n t o f t h e
h id a s a g u a r a n t e e t h a t i f t h e b id h e a c c e p t e d t h a t
t h e b i d d e r w ill c o m p ly w ith h is b id .
A ll le g a l a n d f o r m a l r e q u i r e m e n ts o f t h e N e w Y o r k
m a r k e t h a v e b e e n c o m p lie d w i t h i n t h e is s u i n g o f
t h e s e b o n d s . T h e s e b o n d s a r e i s s u e d to p a y f o r t h e
e r e c t io n o f a n e w C o u r t H o u s e f o r s a id c o u n t y a t
T ow anda. Pa.
T h e c o u n ty h a s n o i n d e b t e d n e s s . A s s e s s e d v a l u a ­
t io n , $21,671,491. T r u e v a lu a t io n , e s ti m a t e d , $6 7 ,000,000. P o p u l a ti o n , c e n s u s o f 1890, 59,233. A r e a ,
743,680 a c re s .
HORACE HORTON,
W. K. GREEN,
JO H N W O LF,
C o m m is s io n e r s o f t h e C o u n t y o f B r a d f o r d .
A t t e s t —J o h n H . D e a n , C le rk .
M c P h e r s o n & A n g l e , S o lic ito r s .
T o w a n d a . P a ., N o v e m b e r 1 9 .18P6.____________________

S u i t h a s b e e n e n t e r e d b y t h e u n d e r s i g n e d C o m m it­
t e e i n t h e U . S. C i r c u i t C o u r t a g a i n s t t h e C ity o f
A n n i s to n , A la ., f o r p a y m e n t o f t h e o v e r d u e c o u p o n s
o n t h e B o n d s o f s a id c it y .
T h e C o m m itte e d e s ir e s t o g iv e fin a l n o t ic e t o t h e
b o n d h o ld e rs t h a t it re s e rv e s th e rig h t to re fu s e to
r e c e i v e a n y B o n d s w h ic h a r e n o t d e p o s it e d w i t h t h e
S a f e D e p o s it & T r u s t C o m p a n y o f B a l ti m o r e o n o r
b e f o r e D e c e m b e r 3 1 st, 1896, w i t h A s s i g n m e n t o f
C oupons.
v'
A s e a c h B o n d d e p o s it e d is s p e c if ic a lly in c l u d e d in
t h e p r o c e e d in g s w h ic h h a v e b e e n i n s t i t u t e d , t h e
B o n d s n o t d e p o s it e d w ill b e d e b a r r e d f r o m t h e b e n e ­
f it o f s u c h p r o c e e d in g s o r o f a n y o t h e r a c ti o n w h ic h
m a y h e t a k e n b y t h e C o m m itte e .
O f t h e c i t y ’s t o t a l i s s u e o f $288,500 B o n d s , t h e r e
h a v e a lr e a d y b e e n d e p o s it e d $230,500, o r a b o u t 80
p e r c e n t.
J A M E S G . W IL S O N ,
O f W ils o n , C o ls to n & C o.
i
R IC H A R D D . F IS H E R ,
\ B o n d h o ld e rs
O f F is h e r & Shaw .
( C o m m itte e .
DO UG LAS H . TH OM AS,
|
A t M e r c h a n t s ’ N a t io n a l B a n k .
J
B a l t i m o r e , M j >„ N o v e m b e r 3 0 ,1 8 9 6 .

$ 1 0 0 ,0 0 0

Lackawanna Co’y, Pa.,
4% Tax Free Bonds
D ated D ec. 1 , 1 8 9 6 .

D ue D ec. t , 1 9 0 6 .

C ity o f S c r a n t o n is t h e C o u n ty S e a t.

P R IC E ON A P P L I C A T I O N .

E D W D .C . JONES C.O.,
421 C H E S T N U T S T R E E T ,
P H IL A D E L P H IA .

80 B R O A D W A Y ,
NEW YORK.

C IT Y OF

NEW

YORK

N. W. HARRIS & CO.,
BANKERS3
C H IC A G O .

BO STO N.

15 W A L L S T R E E T ,

P H IL A D E L P H IA .

.

NEW YORK ,

N E W LOANS.
INVESTMENTS
FO R

New York Savings Banks.
City of Cambridge, Mass.,
City of Lowell, Mass., - •
City of Boston, Mass., - •
City of Cleveland, Ohio, •

-

•
-

4s
4s
4s
4s-

A f u ll d e s c r i p ti o n o f e i t h e r o f t h e s e is s u e s , w itfe
p r ic e s , w ill b e m a i l e d o n a p p li c a ti o n .

E. H. ROLLINS & SONS,
53
BOSTON.

STATE
.

.

STREET,
.

.

M ASS.

Blodget, M erritt 8c Co.*
BA N K ER S,

16 Congress Street, Boston.
STATE CTTY & RAILROAD BONDS.

3 x P£R C E N T

G O LD BONDS
D U E N O V E M B E R 1 s t, 1916.
I N T E R E S T P A Y A B L E J A N . 1 s t A N D J U L Y 1 s t,
E x e c u to r s , A d m i n is tr a t o r s , G u a r d ia n s a n d o t h e r s
h o ld in g t r u s t f u n d s a r e a u th o r i z e d b y a n a c t o f t h e
N e w Y o rk L e g i s l a tu r e p a s s e d M a rc h 1 4 ,1 8 8 9 , t o i n ­
v e s t in th e s e b o n d s.
P R IC E A N D P A R T IC U L A R S O N A P P L IC A T IO N

Rudolph Kleybolte & Co.
GOVERNMENT a n d
BANKERS
CINCINNATI, O,
M U N IC IP A L BONDS
4 1 a n i l 4 3 W a l l S tre e t, N ew Y o r k ,
Bought and Sold.

W hen Due.

T o w n B o n d s *—

4s, J&J, $ 3 5 ,0 0 0 .........Jan. 1, 1922

TO T H E H O L D E R S O F T H E B O N D S

City of Anniston, Ala.

[Y ol . L X IIl,

SAFE INVESTMENTS.
S E N D F O R L IS T

City and County Bonds„
DIETZ, DENISON & PRIOR,
35

CO N G R ESS S T R E E T , - BO STO N .
tOD S u p erior S tre e t. C lev e lan d . O.

B a n k e rs and C om m ission m erch a n ts,

M U N IC IP A L BONDS.
E. C. S T A N W O O D & C o .y

MILLS BUILDING, NEW YORK.

BANKERS,

„ _ „
S o lic it a n d E x e c u te O r d e r s o n
5* X ' S to c k E x c h a n g e .
N . Y . P ro d u ce E xchange.
N. Y . C o t to n E x c h a n g e .
C h ic a g o B o a r d o f T r a d e .
U n s u r p a s s e d P r i v a t e W ir e F a c il i ti e s t o N e w Y o rk
C h ic a g o a n d W e s t e r n E x c h a n g e ? *
C a b le A d d r e s s “ O Z R O . ’

121 Devonshire Street,
BO STO N.

CLAPP & COMPANY,

L I S T S S E N T UPO N A P P L IC A T IO N ,.