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oiitmcrt’i*1
,
HUNT'S
MAGAZINE,
MERCHANTS’
9
U#w*jrape*,
COMMERCIAL INTERESTS OP THE UNITED STATES.
[Entered, according to aet of Congress, in the year 1881, hy Wm. B. Dana & Co., in the office of the Librarian of Congress, Washington, D. C.l
REPRESENTING THE INDUSTRIAL AND
bondholders
CONTE NT 8.
The Financial Situation.
CHRONICLE.
165 Imports and
An Irresponsible
ment
166
THE
notes
Exports for Te-
Twelve
31, 1880 172
United States Treasury State¬
Cotton Exhibition and Manu¬
ment
173
167
facture in the South
Railroad Earnings in January 168 Monetary
and
Commercial
English News
173
.Ellison & Co.’s Annual Review
Commercial and Miscellaneous
of the Cotton Trade for the
News
175
170
Year 1830
THE BANKERS’ GAZETTE.
Money Market, U. S. SecuriI Quotations of Stocks and Bonds 180
ties, Railway Stocks, Foreign
I Investments, and State, City
Exchange, New York City •
i and Corporation Finances. .. 181
177 |
Banks.etc
THE COMMERCIAL TIMES.
City Govern¬
Commercial Epitome
Cotton
cember,
and
for
Months Euded Dec.
191
185 I Breadstufts
185
I Dry Goods
192
:
3pxe ©tottidc.
The Commercial and Financial Chronicle is issued every Satur¬
day morning, with the latest news up to midnight of Friday.
[Entered at the Post Office at New York, N. Y., as second-class
mail matter.]
TERMS OF
SUBSCRIPTION—PAYABLE
IN ADVANCE:
For One Year (including postage)
For Six Mouths
do
Annual subscription in London (including postage)
do
do
Sixmos.
do
$10 20.
6 10.
£2 7s.
1 8s.
Subscriptions will be continued until ordered stopped by a written
order, or at the publica tion office. The Publishers cannot be responsible
for Remittances unless made by Drafts or Post-Office Money Orders.
Advertisements.
published at 25 cents per line for eaoh
Insertion, but when definite orders are given for five, or more, insertions,
Transient advertisements are
liberal discount is made. Speoial Notices in Banking
•column 60 cents per line, cash insertion.
London and Liverpool Offices.
a
and Financial
The office of the Chronicle in London is at No. 74 Old Broad Street
and la Liverpool, at Ns. 5 Brown’s Buildings, where subscriptions and
advertisements will be taken at the regular rates, and single copies of
the paper supplied at Is. each.
WILLIAM B. DANA,
l.
/OHN a. FLOYD, JR.
ms
NO
SATURDAY, FEBRUARY 12, 1881.
VOL. 32.
)
5
WILLIAM B. DANA A 00., PnbHshsrs,
79 A 81 William Street, NEW YORK.
or
are
the
not
new
816.
likely to largely re-invest in either the
short bonds.
In
case
these surmises
prove true, it is not reasonable to expect a very dull mar¬
ket this summer.
But as speculators discount everything,
they cannot make money on a constantly rising
market, it would not be at all surprising to see a reaction
after the passage of the Funding bill.
The only point we
make is this, that whether such a reaction comes or not,
under existing circumstances it must be temporary, for the
present is not a period of such an inflation of prices above
their actual values as should lead one to fear to hold good
properties, if able to pay for them.
The activity of the past week has, besides the influences
we have
mentioned, been directly helped forward by the
recent manipulation which resulted in making a large
short interest.
It needed only bold maneuvering to
induce a covering of the slurt contracts.
The supply of
and
as
comparatively small and as the market was
largely oversold the rise was rapid. Of course stocks
ruling at lower figures followed in the wake, and the
movement in them has been one of the prominent features
of the week.
The reports with regard to the Funding
bill have been that it would pass the Senate in a few days,
and it is generally believed on the street that Congress
will, before adjournment, authorize the issue of a
per
stock
cent
was
bond redeemable in five and
payable in twenty years.
early pasftge of this bill will enable refunding of the
and 6s to be commenced almost immediately.
The
The
5s
exchange of bonds, it is expected, will be rapid at the out¬
set, for preparations have been made by leading bankers to
take large amounts as soon as the Secretary of the
THE FINANCIAL SITUATION,
In another column we have presented and very thor¬ Treasury announces his readiness to receive subscriptions.
The Bank of England continues to gain bullion, and
oughly reviewed the railroad earnings for the past month.
They form the basis, of course, of the movements in Wall gold is-leaving France in such volume as may compel an
Street, of the confidence felt in existing high prices, and advance in the rate of discount in that country. The loss
the real
Post Office Box 4592.
why that great reaction has not set in
faint-hearted have so long been foretelling.
reason
which the
forget that between 1873 and 1881 there are wonder¬
Probably we have increased in population
fully 20 per cent, and the necessities and activities of this
Some
ful differences.
largely increased power have to be met by a carrying
machinery but little in advance of the former date. How
is it possible, therefore, that there should not be a true
basis for high values.
If, then, to such facts as these, be added the natural
action of the Funding bill, when put into operation, the
method in the madness of the street at the present time
will be easily seen.
The prevailing feeling is that that
law will throw an immense amount of capital into stocks,
because small capitalists—those who keep their money in
stockings—are likely to take the notes, and the old
of
gold by France and Germany has been so heavy of late
made overtures for a monetary
conference.
This result we have often shown would be
reached if we would only let the question rest.
The
that both countries have
England reports a gain of £667,000 bullion for
week, making nearly £2,000,000 for the last four
weeks.
The proportion of reserve to liabilities was
increased
per cent last week, and it now stands at 45,
against 43 3-16 per cent four weeks ago and 36 3-16 on
January 6. The Bank of Germany reports a gain of
5,920,000 marks for the week, and the return of the Bank
of France shows a loss of 13,590,000 francs gold and
1,615,000 francs silver. The following exhibits the amount
of bullion in each of the principal European banks this
week and at the corresponding period last year.
We have
reason for supposing that our allowance of gold for Ger-
Bank of
the
THE CHRONICLE.
166
[VOL. XXXII.
zZ
is an overestimate ; that is to say, that a greater
portion of their metallic reserve is silver.
many
February 11, 1880.
Febtniary 30, 18S1.
Silver.
Gold.
Gold.
Silver.
£
£
*
£.
£
Hank of
23,314,105
26,126,242
21,698.952 48,364,070 29,932,120 50.014,880
9,124,783 19,197,967 '9,588,333 19,176,667
England
Bank of France
Bank of Germany
56,919,977 67,562,037 67,834,558 69,191,547
53,753,324 67,404.637 67,284,217 69,046,258
Total this week
previous week
13^* The above gold and silver division of the stock of
Bank of Germany is merely popular estimate, as the Bank
no information on that point.
Total
There have been
no
arrivals of gold from
coin of the
itself gives
Europe this
AN IRRESPONSIBLE CITY GOVERNMENT.
To residents of this great metropolis—except those
engaged in the nominal occupation of governing it—the
condition of the streets at present is feelingly apparent.
For non-residents we would say to summon imagination;
picture streets packed with six inches of what was originally
snow’, but long ago became dirty ice, littered with scattered
ashes and other dejecta, and, in time of thaw, swimming in
liquid filth, which -is not dirt hut an offensiveness that
scouts description.
The injury to health and" clothing, the
offense to decency and refinement, and the losses by obstruc¬
tions to business, can never be footed up, but probably a
half-million of dollars would not make good the aggregate
costs of an average winter’s snow-fall.
week, neither have there been shipments reported from
The payments by the Assay Office for
As it has been this winter, so it has been for many
foreign bullion deposited were completed last Friday, and
years.
As soon as the snow comes, the officials who are
those made by the office this week, amounting to $89,21 7,
conventionally supposed to clean the streets, fold their
have been for domestic bullion.
The operations of the
The appropriation for street-cleaning cannot be
hands.
Sub-Treasury this week, exclusive of transfers of $2,200,- touched for
removing ice and snow; the dirt cannot be
000 from the Mint, have resulted in a gain, which is a loss
touched, because the snow and ice prevent; ashes cannot
to the banks, of $684,616.
Deducting from this amount be
removed, because of this snow and ice; and as for the
the loss to the Treasury last Friday of $107,847. makes
snow
and ice there is no money.
There is never any
the other side.
gain for the six days of $576,769. Yesterday there
was a further gain to the Treasury of $301,447.
The currency movement is again light this week,
exchange being in sufficient supply at the principal West¬
ern and Southern points to meet the demand without send¬
ing hither much currency. The loss of legal tenders
reported by the banks in last week’s statement doubtless
resulted from the shipment of United, States notes to
"Washington for deposit in lieu of bonds withdrawn either
for sale in the market or for the retirement of circulation.
The exchange of one class of bonds for another has been
comparatively large recently, and this is probably due to
the fear that the fifth section of the Funding bill will be
retained, and the law of 1874, under which this exchange
of bonds is made, will be repealed.
Some banks disposed
to anticipate the passage of this fifth section are now
embracing the opportunity to withdraw their bonds on
deposit with the Treasurer. If this movement should
become general among the large banks, further withdrawals
of legal tenders from circulation may be expected.
The
receipts of currency in this city during the week amounted
to $751,380 and the shipments to
$541,000, making
the net gain $210,380.
In view of th<^ fact that the
Treasury operations have resulted in a loss to the banks
and also that there may have been further shipments of
legal tenders to "Washington, a decrease in reserve will
probably be shown in the bank return to-day.
Foreign exchange has been steady to strong during the
week, but the indications now are that the supply will soon
be in excess of the demand.
The bonds now coming this
a
net
from Europe are being settled for with bills drawn
against recent railroad bond negotiations. The outward
movement of securities lias been chiefly confined to some
way
money—the appropriation is always exhausted, or just at
the point of exhaustion; yet none the less is the appropria¬
tion faithfully “cleaned ” and “ removed,” although the
streets and the ice are not.
Nearly a million is paid by
the city for this ostensible wTork, and not a dollar of it was
ever found to have been left over unexpended.
This w’eek a movement has actually started to attack
the problem in a practical way by individual co-operation.
This is sensible, of course, for if, after paying our osten¬
sible servants heavily for doing our work, we find that
the service is ostensible and only the pay is real, there is
nothing to be done but to take bold and do the work
ourselves. Possibly this may succeed so far as to be
established as a custom, for there is no doubt that it is
cheaper to remove the snow than to endure it. "Were
energy and intelligence, such as are necessarily used in
private business, directed to the problem not only of the
snow
but of street cleaning, the work would be done;
were such energy and intelligence put into government we
should have good government.
Why cannot this be,
then ?
It could be, if there were no obstacles.
The condition of the streets, however, is a satire on
popular government. It is an illustration of a govern¬
ment with plenty of members and a most vigorous stomach
but without any head.
There is force, but no direction.
There are “accounts” and books of account in abundance,
but no accountability.
A huge machine, which produces
nothing but chaff; no responsibility anywhere. The thing
is non-partisan.
There is just enough of Democratic and
Republican to make sure that neither party will get the
upper hand and neither will steal more than the other, and
all the forces are so nicely balanced that there is no
motion.
moderately large blocks of low-priced stocks. The follow¬
This would be charmingly perfect if the object of
ing shows the relative prices in London and New’ York
"laving a government were only to secure an equitable
of the principal securities.
division of the spoils between the opposing parties; but
Feb. 11.
Feb. 10.
Feb. 9.
Feb. 8.
Feb. 7.
there lingers yet a prejudice in favor of the idea that
Lond'n N.Y.
Lond'n N.Y. Lond'n N.Y.
Lond'n
N.Y.
Lond'n
N.Y.
price*.* prices. prices* prices. prices.* prices. prices.* prices. prices.* prices.
U.8.4s,c.
113-11
U.8.5s,c.
‘.00*34
112%
113*11
100*34
Ill. Cent.
131*84
100%
47%
99%
132%
N. Y. C..
146*43
146
Reading
30*52+
48-04
Erie
2d
con.
10119
61%
113*23
112%
100*31
100%
4937
48%
101*19
101*19
112%
100%
mi
100%
133*54
134
134*27
100%
133%
148*13
147%
14801
148
31*131
62
31*62i
63
49*13
11286
112-98
10046
100-46
112%
100%
48-77
48%
101-19
99%
130-38 133%
14813 147%
30 89+
61%
4S-77
112%
100%
49
..
101*19
100
132*08
135%
146%
148*13
31*13*
63
4*86*
4*86%
4-86«
Expressed in their New York equivalent,
$50, pur value.
Note.—The New York equivalent is based upon
eablc transfers, which ordinarily covers nearly
4-86%
4*86%
*
t Reading on basis of
interest, insurance and commissions.
the
without them, but we do not want any more countrymade charters.
The city government needs to be re¬
ment
Exch’ge,
cables.
of doing something and for
public interest.
Hence much dissatisfaction, which
our country friends in the Legislature, after having made
an inquiry into our municipal expenses, propose to remove
by a new charter. This undoubtedly contains some good
features, for it would be bard to frame so long a docu¬
government is for the purpose
the highest rate for
all charges, such as
made,
done
emphatically, but this work • should be
by men who live here, whose interests are
February 12,
1881.]
THE
CHRONICLE,
167
it is evident that all or most of this work is practically a
here, and whom experience has shown what is needed.
Take this off, and of course the
The incongruity of legislating for this city by men who tax upon the cotton.
perhaps never saw it, and who have neither any concern price of the fibre to the grower must be appreciated.
Mr. Atkinson very forcibly says that the process of
or any knowledge about it, is so
bold as to almost defy
illustration.
This city might as rationally look to the cotton manufacture is a unit, beginning with the picking
British Parliament for its local legislation.
The fact is, and ending only when the cloth is ready for sale. The
that a large share of legislative business in Albany relates point of this remark lies in the fact that the most impor¬
to New York, and that the metropolis is made a prey. tant part of the whole work is what must always be done
When this vicious practice is broken and this city is left near the field, that is, the picking, ginning and baling, and
to govern itself, we shall be able to do something.
The that there is a much richer profit available to the Southern
non-partisan idea should be wholly abandoned ; let there people in improving their methods in this part of the
be any degree of partisanship, if only there is a concen¬ work than in trying to do the whole.
On making cloth
tration of power, so that somebody can be held responsible below No. 1G, the utmost profit to be expected is two or
and nobody can hold up his tied hands as excuse.
The three cents a pound, and on medium numbers three or
present plan has lasted long enough to be judged by its four cents, and to get this requires, obviously, the utmost
results, and it is now time the Legislature took its hands skill in management, combined with heavy investments of
off and allowed self-government an opportunity here.
capital. On the contrary, with very moderate expendi¬
tures in improvements, and with more care and intelli¬
gence, the planter can at once lay his hand upon a
Hence, Mr. Atkinson urges
COTTON EXHIBITION AND MANUFACTURE large increase of profits.
first of all that the intelligent farmer select the best of
IN THE SOUTH.
new tools for cultivating shown at the coming exhibition;
While some of the papers in the South are speaking let him adapt to the construction of his store and ginquite harshly of Mr. Atkinson, he seems to be doing his houses the suggestions he finds as to fire precautions; then
best in divers ways to advance the interests of that section. the best gin, the best automatic feeder, and the best
Last July he first suggested in the Chronicle the idea of revolving apron for carrying the freshly-ginned fibre to a
an International Cotton Exhibition.
Since then he has beater for removing whatever dust, grit and immature seed
sought in every way he could to forward this project, and has slipped through the gin; then—realizing that his now
within the week in an interview published in the Herald clean lint must not be allowed to touch the dirty floor—he
helps further to assure its success by showing its great will certainly buy a small press, with which the baling will be
done immediately.
importance and utility.
On cotton thus handled he could com¬
We refer in this connection
to these criticisms mand a premium; he could sell directly to the factories on
because we feel sure that they are based on a misappre¬ his reputation, once acquired, or consumers would send
hension.
Mr. Atkinson has never said, as some seem agents to him with the cash, as they now send agents
to claim, that cotton manufacture cannot be successfully through the West for the best clips of wool.
So import¬
prosecuted in the South. It is to-day successfully prose¬ ant is this preliminary work regarded that a New England
cuted at many points, and in some mills the details of mill is about to establish a branch ginning-establishment
management will compare favorably with our best estab¬ in the South, for no other purpose than that it may be
lishments in the East.
Mr. Atkinson has said nothing on the spot and, by doing the ginning and the baling, may
inconsistent with that fact.
His idea appears to be, as we escape the necessity of doing this work in the main fac¬
understand it, first, that, at least for the present, there are tory and may thus secure the most perfect fibre.
other activities in that section which hold out to capital
Again, the planter that makes the most of the exhimuch greater inducements than cotton manufacture; and, | bition will select the best hulling machine, with which
second, that in the extreme Southern latitudes labor shut he will hull his separated seed, feeding the hulls to
up in a cotton factory for the 300 working days of the year his stock, the hulls being worth for that use as much as
cannot produce as large results as, and therefore cannot hay, ton for ton; the kernels he will send to the nearest
compete with, the same amount of labor similarly worked oil-mill, selling the expressed oil and using the ground
in more Northern latitudes.
Now, admitting that Mr. meal to feed sheep folded on the cotton field, thus restor¬
Atkinson’s opinion is wrong or right on one or both of ing to the soil most of the mineral element taken from it
these points, there seems in either case nothing which by the cotton. If thtfTe w’ere a variety of the cotton plant
should excite any personal feeling.
They are legitimate that would produce seed even without lint, and would
matters for discussion and for differences of opinion; and, grow’ -in the North, Mr. Atkinson thinks it wTould become
as bearing on the general subject, some
of the facts lie one of the most valuable of Northern crops, for the
has called attention to in this late interview, and wThich are seed alone.
The best thrash-cleaning machine should also
stated below, are wTell worth attentive study.
be bought, with which to treat his storm cotton and
It is pretty evident that there is one direction in which the bolls from which all available fibre has been picked by
the surplus capital and energy of the South hand, thus saving something hitherto wasted.
some of
Improved
could find profitable employment, and Mr. Atkinson machinery, at less than the present labor and cost, will thus
refers to it when he says that no great staple except sugar work out much more profitable results.
is so wastefully handled and prepared for market as cot¬
It will be observed that Mr. Atkinson’s argument is,
ton is.
Were it only properly picked, carried to the gin, as wre briefly stated it above, that it will not pay the
properly handled in the gin-house, and subsequently, it South to put capital at risk in mills, while a large
would be freed from the impurities and harm which now and indefinitely expanding profit in improving wdiat he
reduce it to a lower grade.
In the Northern mills, a aptly calls the earlier processes of manufacturing, is
That there is reason in this cannot
very important part of their work is remedying these close to hand.
errors of
handling—removing the dirt and grit which have appear doubtful to one wrho stops to think. The bird in
got into the fibre.
In so doing, the machinery of the or near the hand should not be overlooked for any number
mills must suffer, the fibre itself must suffer, and the cost of birds in the bush.
A wheat-grower who should give
of this supplementary work is itself considerable, so that his days to projects for establishing flour-mills instead of
rHE CHRONICLE
168
increasing the number of bushels from his acre, would be
rated a very poor economist and would be a long time in
getting the mills. The force of this argument is increased
if we reflect upon how little cotton-growing has had done
for it to raise it from the sloth and non-intelligence of its
methods under slavery.
rthe slave, economically speaking,
was far inferior in intelligence and accuracy to a piece of
modern machinery, and no intelligence governed any
where—everything was left to its easiest course. The cot¬
ton carelessly picked, imperfectly seeded, was imperfectly
[Vou xxxii.
RECEIPTS OF FLOUR AND GRAIN FOR FOUR WEEKS ENDED JAN.
29.
'
Chicago—
Flout',
Wheat,
Corn,
bbls.
bush.
bush.
Olll 8,
bush.
805,745 2,389,245 1,287,436
137,023 1,325,738 3,591,800
573,856
Rye,
bush.
bush.
4 40,269
48,067
191,763
59,621
139,430
80,009
383,275
47,615
142,305
34,844
227,606
1881
1880
Barley,
Milwaukee1881
1880
8t. Louis—
1881
1880
Toledo
242,634
850,690
134,799 1,135,400
83,565
69,071
-
94,968
359,609 1,007,595
135,637
250,510
7,486
89,198
428,767 2,531,495
313,926
85,044
40,243
474,299
74,777
31,477
—
1881
1880
Detroit—
188 L
428,308
258,468
3.125
1.125
571,403
32,872
445,842
26,619
■
617
34,771
33,353
227
1880
21
74,353
32,300
316,292
24,744
pressed, after being dragged in the dirt all along. Dirt,
18,752
Cleveland—
stones, leaf, etc., add to weight, but they are a weight
1881
11,000
7,342
186,900
93,000
58,700
1880
155,790
28,000
9,350
44,100
1,800
6,178
on the price also ;
they never did and never can sell for Peoria—
1881
73,580 65,675
416,450
25,050 1,235,350
25,890
fibre, and they drag down the fibre itself.
1880
847,140 233,600
78,000 59,510
12,000
7,526
But the South will, we hope, not fail to notice that this
Total of all—
1881
628,184 2,973,944 5,409,826 2,180,083 1,193,405 169,070
line of argument is, at most, only an argument for post,
1880
531,206 196,656
394,6011 3,520,765 7,841,054 1,293,168
poning mills in the South. It is a plea simply not to
absorb money in the shop which could with greater profit
The large diminution in receipts of wheat and corn at
be put into the field.
Furthermore, Mr. Atkinson thinks Chicago will attract notice at once, and helps us account
there are other industries safer and more tempting for the decrease or smaller increase on many of the West¬
for the present than cotton mills.
As illustration, he ern roads. Part of the loss in corn and wheat is made
cites the section from the Ohio, at the western edge of good by an augmentation in receipts of oats and barley,
the Blue Grass region, around the western border of that but the gain in these does not come anywhere near off¬
region to Chattanooga, then around the southerly end of setting the loss in the other items. But especially striking
the Appalachian chain byway of Atlanta, thence northerly is the decrease at St. Louis.
Wheat receipts at that point
past Lynchburg to Harper’s Ferry, thence.by way of the were only about 70,000 bushels less, but the corn movement
Potomac and the Ohio to the starting point.
This sec¬ was reduced to below half that of last year, having been'
tion—which will include portions of six States—is equal more than a million and a half bushels smaller.
The
in size to France and nearly double Great Britain.
In Wabash carries to both Chicago and St. Louis, and with
agricultural and mineral resources, Mr. Atkinson thinks these facts before us it will not appear surprising that the
-it surpasses those two great countries combined, and has company should have to report a decline in earnings to
the finest climate east of the Rocky Mountains ; the Blue the extent of $110,986.
Grass region alone could feed Great Britain on wheat
In the South, the movement of cotton, although on the
grown without manure.
To such a section as this, hitherto whole lighter than last year, has varied in different sec¬
shut out from the world as it were, and even from the tions, and thus the roads show a gain or a loss in earnings,
knowledge of its own powers, what may not the future according as they are in one State or district, or in another.
bring in development ? The like reasoning applies to the To bring out this point we give the following table, show¬
South in general.
And so believing, the proposed exhibi¬ ing the receipts of cotton at the outports during January,
tion seems to us an opportunity big with promise.
this and last year.
»•
•
•
■
:
RECEIPTS OF COTTON AT
RAILROAD
EARNINGS IN JANUARY,\
Forty-five roads have thus far reported their earnings
for January, and are given in our regular table further
below.' The total of these foots up $12,329,852, against
$11,185,429 last year, or an increase of about ten per cent.
Considering that the earnings last year were very large,
that all through January this year we had severe cold
weather and several heavy snow-storms, while last .year
there were no such impediments to transportation, and
remembering also that we had a smaller movement of both
grain and cotton this year, the showing here made must
regarded as highly satisfactory. To be sure, the per¬
centage of increase in earnings fails to equal the percent¬
age of increase in mileage ; but as remarked last month,
this in itself is not necessarily an unfavorable feature.
In
amount of increase, the Central Pacific leads the list,
having made $297,000 more this year than last. In view
be
of the floods and storms from which the
this is
road suffered,
gratifying exhibit.
of the large grain-carrying roads have a de¬
crease this month, and others report but a nominal increase.
It will be interesting, therefore, to examine the grain
statistics, and we have accordingly had prepared the fol¬
lowing statement of receipts of flour and grain at the
principal lake and river ports of the West. The figures
do not cover the entire month, but are for the four weeks
ended January 29th.
We give the totals for each port
a
very
Several
separately,
as
SOUTHERN PORTS IN JANUARY,
the table is
more
useful in this
ivay.
Galveston
Indianola, &c
New Orleans
Mobile
bales.
Florida
Savannah
1881.
1880.
84,696
1,921
162,442
43,211
1,541
74,766
42,606
Port
241,065
51,484
5,645
77,628
City Point, <fec
Total
18,330
15,445
506.610
547,771
Dec....41,161
At Galveston and Indianola
this year, and the result is seen
the Texas roads—namely, the
felt
..
..
..
the receipts, were larger
in increased earnings on
International & Great
Northern and the Houston & Texas
and Mobile had smaller
Dec....78,623
66,160
43,667
4,087
4,007
6,679
2,516
Norfolk
Central.
New Orleans
receipts, the effects of which were
by the Mobile & Ohio among other roads.
and St. Louis
are
..42,090
1,021
4,200
56,849
188
-
904
Royal, &c
Inc..
Inc
900
43,299
Wilmington
Mo rehead City, &c
Difference.
Dee.... 8,273
Dec.... 4,104
Dec.... 2,862
Dec....
43
Dec....
368
Dec
3,193
Inc..
2,672
Dec.... 1,684
Inc..
9,311
Inc..
2,885
145
Brunswick, «fcc
Charleston
1881 AND 1880.
not included
Memphis
in the above table, but
be said that at the former port the receipts were
scarcely half those of last year, and the decrease in
Memphis & Charleston earnings^ is of course attributable
to
this fact.
At St. Louis, too, the movement was
smaller, which in a measure no doubt explains the loss on
the Missouri Kansas & Texas and the St. Louis • Iron
Mountain & Southern. The latter does not show a decrease
in total earnings, but it does show a decrease in freight
earnings, which was more than wiped out by the gain in
it may
earnings—another sign of the activity of the
times, and an element of great promise in the future.
passenger
February 12,
We remarked above
large.
Those that
incluiled.
it
was
not
for 1879.
are
not, have been omitted because
possible to get the proper comparative figures
Wabash St. Louis & Pacific is one of these/
JANUARY EARNINGS FOR THREE YEARS.
Name
1880.
1851.
of Company.
.
487.P90
,
Chicago Milw. A St. Caul...
Chicago A Northwest
Clev. Col. Cin. A Indianap..
Flint A Pere Marquette
Grand Trunk
Great Western
Hannibal A St. Joseph
Houston A Texas Central...
Illinois Central (Ill.)
Do.
(Iowa lines)
125,455
991,000
1,222,250
299,903
135,378
759,528
359,478
153,067
359,706
477,799
90,283
International A Great No...
1 oui.-Yille A Nashville
181,463
808,010
111,842
Memphis A Charleston
59,543
674,155
129,265
233,687
250,116
96,922
56,217
555,983
195,695
101,774
67,684
559,460
212,435
Tlirel weeks
79,399
$8,926,421
$9,721,494
Total
343,737
68,167
591,175
1,008,321
234,862
77,411
689,321
306,098
137,047
260,746
475,891
104,301
82,934
161,818
450,476
95,301
126.575
194,486
59,757
48,445
334,029
2
210,423
218,243
Missouri Kansas A Texas*..
Mobile A Ohio.:
St. Louis Alton A Terre II..
Do.
branches
St. Louis. Iron Mt. A So
St. Louis A San Francisco...
$117,362
1,089,166
467,449
127,181
80,498
122,673
Indiana Bloom A Western..
1879.
$184,317
1,200,614
524,055
72,466
764,298
1,154,632
312,603
109,992
730,066
351,244
176,079
319,041
$167,750
1,198,000
Burl. Ceder Rapids A No..
Central Pacific
Chicago A Alton
Chicago A Eastern Illinois..
*
MILEAGE ON WHICH ABOVE EARNINGS ARE BASED.
that the earnings last year were
In the same connection it will be instructive
to compare this year’s figures with those for January,
1879, as well as with those for January, 1880. So we
have brought together the January earnings for three
years. Pretty nearly all the leading, roads reporting are
very
169
THE CHRONICLE.
1861.]
$7,136,825
an
Cairo A Sr. Louis
Central Pacific
Chicago
Chicago
Chicago
Chicago
Chicago
St.
A Alton
A Eastern Illinois
Milwaukee A St. Paul
A Northwestern
St. Paul Minneapolis A Omaha..
Paul & Sioux City
Cincinnati Indianapolis St. Louis A Chic..
Cincinnati Sandusky A Cleveland
Cincinnati A Springfield
Cleveland Columbus Cincinnati & Ind
Cleveland Mt. Vernon A Delaware
Denver & Rio Grande
Dos Moines & Fort Dodge
East Tennessee Va. & Georgia
Flint & Pere Marquette
Grand Trunk of Canada
Great Western of Canada
Hannibal & St. Joseph
Houston & Texas Central
Illiin is Central (Illinois line)
Do
(Iowa leased lines)
Indiana Bloomington A Western
International & Great Northern
Lake Erie A Western
Little Rock & Fort Smith...,.
Louisville A Nashville
Memphis A Charleston
Memphis Paducah & Northern..
Minneapolis A St. Louis
Missouri Kansas A Texas
Mobile A Ohio
New York A New England
Northern Pacific
Paducah A Elizabethtown
Peoria Decatur A Evansville
St. Louis Alton & Terre Haute (main line)
do
Do
(branches...
St. Louis Iron Mountain A Southern
St. I.rouis A San Francisco
St. Paul Minneapolis A Manitoba
Wabash St. Louis A Pacific
*
increase of 9 per cent compared
'
Chicago A West Michigan
Total
only of January iu each year.
While there is thus
Burlington Cedar Rapids A Northern
1881.
1880.
564
146
492
116
72
2,586
2,361
225
840
220
840
152
3,774
2,770
2,359
2,449
309
624
245
300
190
80
391
144
551
84
272
311
261
421
245
300
190
80
391
156
337
84
272
293
1,404
1,273
823
823
292
524
919
402
212
571
365
165
29 2
524
873
Increase.
68
1,415
321
48
203
*
12
214
18
131
*
m
m
m
m
m
46
402
212
529
308
42
57
165
1,840
1,107
330
330
113
160
786
506
285
534
186
125
195
71
686
492
656
113
233
786
506
317
751
186
185
195
71
686
596
73 3
73
32
220
60
......
.
.
.
^
^ m
860
2,404
2,309
104
204
95
30.140
25,771
4,369
Decrease.
earnings, operating
of December,
such railroad
will furnish monthly exhibits for publication.
The statement below
gives the
gross
1880, when compared with January, 1879, the in. expenses and net earnings for the month
and from January 1 to December 31, of all
crease is found to be 36 per cent, showing how heavy
with
in 1880. These figures should teach us, companies as
we kave no right to expect in the future the
same percentage of gain that has been recorded all along.
Atlantic Miss. A OhioGross earnings
In truth, to do no better than last year, is to do well, and
Oper’g exp. (mel. extr’y)
to avoid disappointment this should be kept in mind.
earnings
also, that
were
EXPENSES AND NET EARNINGS.
,
-•
GROSS EARNING3 IN JANUARY.
Net
1830.
No...
Chicago A Alton
Central Pacific
Chicago A East. Illinois..
Chicago Milw. A St. Paul
Chicago A Northwest
Chic. SM’.Minn.A Omaha
St. Paul A Sioux City..
Chicago A West Mich’*...
Cin. Ind. St Louis A Chic.
•Cin. San lus cy A Clev.*..
Cinciini.iti A Springfield.
< lev. Col. Cm. A Ind
Clev. Mt: Vernon A Del*.
Denver a- Rio Cm tide
J >e
Moines A Ft. Dodge*
East Temi. Va. A Ga
Flint A Pere Marquette..
Grand Trunk of Canada).
Great West’ll of Canada*.
Hannibal A St. Joseph...
Houston A Texas Cent...
Ill. Central (Ill. line;
Do
(la. leased lines).
Indiana Bloom. A West..
InternatT A Gt. North...
Lake Erie A Western*....
•
Little Rock A Fort Smith
Louisville A Nashville...
Memphis A Charleston...
Memphis Paducah A No.*
Minneapolis A St. Louis.*
Missouri Kansas A Tex*.
Mobile A Ohio.
N. Y. A New England*...
Northern Pacifie
Paducah A Elizabetht’u*
Peoria Dec. A Evansville
St.L.A.AT. H. main line.
Do
do (branches)..
St. L. Iron Mt. A South’n.
St. Louis A S. Francisco.
St. Paul Minn. A Man—
Wabaek St. L. A Pac
Total....
$
167.750
33,637
487.890
1.49^,0(10
125.455
991.000
$
184,317
22,821
521,055
1,200.614
72,466
761,293
Increase.
Decrease.
10,816
36,165
297.386
52.989
1,151,632
105,405
23.150
88.422
171.40 ;
155,697
31,519
69,899
312,0 >3
21,867
23,309
7,488
15.769
36.3
8
74,533
2n9,9o3
2 1.73
•
4,634
182.583
11 1.005
135,37*
109,992
730,066
25,386
29,462
351,244
176,079
8,234
319,041
467.449
40,665
359,478
153,067
359,706
477,799
122,673
90,283
181.463
73,242
55,800
808,010
111,842
12.950
36,068
210,423
218,243
12^049
109,805
expenses
$
2,064,191
$
1,749,616
1,097,686
986,738
100,719
105,547
966,508
762,878
193,419
139,209
176,204
96,135
2,053.482
1,343.726
1,534,949
984,807
54,210
80,069
709,756
550,142
218,009
181,187
179,161
119,933
2,674,303
2,129,385
1,936,539
1,497,319
36,822
59,228
544,923
43 9.220
36.695
27,549
24,233
9,413
324,725
180,804
225,403
141,331
9,116
14,820
143,921
84,072
913,100
583,035
(PI, 811
331,868
9,455,259
5,596,6 46
6,007,386
3,417,059
3 i0,965
3 46,‘J 43
3,358,613
2,590,327
Dodge —
Louisville A Nashville—
Gross earuings
Operating expenses:
N. Y. Lake Erie A Western—
Gross earnings
1
.726,738 1,393,215 13. }3T3 ‘6 16,509,120
1 ,229,606 1,048,477 11,934,578 11,561,404
Operating expenses
305
4,947,716
497,182
349,768
7,554,788
198,108
171.699
178,880
124,929
2,396,302
1,644,477
26,409
53,951
751,825
494,310
270,404
414,599
224,810
5,050,387
3,255,203
4,107,948
2,861,941
223,906
189,789
1.795,119
1,246,007
37,773
28,744
38,375
25,124
404,903
301,860
341,718
258,523
Net earnings
9,029
13,251
103,043
Pennsylvania (all lines east of Pittsburg A Erie)—
Gross earnings
3,547,82S 3,453,925 41,260,068
83,195
Net earnings
New York A New
England-
4,511
129,265
12,645
9,785
21,920
36.553
Northern Central—
6,000
17,423
28,550
233.637
250,116
120,014
7,518
81,593
28,212
23,264
31,873
9,035
24,652
3,910
40,607
101,774
67,684
559,460
212,435
254,167
811,617
14,211
96,922
56,217
555,983
26,396
4,852
11,467
3,477
16,740
73,948
11,185,429
Operating
10,350
28^562
12,329,852
2,518
........
23,012
133,555
180,239
923,603
Net earnings
Chesapeake A Ohio—
Gross earnings
Net earnings
4,507
........
127,181
60,498
159,543
36,689
49,800
674,455
195,695
........
128
108,517
759,528
$
203,329
97.782
North’u—
Net earnings
12,700
124.833
13,821
$
181,746
81,027
12,763
earn lugs... v
Burl. Cedar Rap.A
Gross earnings
Des Moines A Fort
Gross earnings
4,879
307,470
1 8.328
only of January in each year,
t For the four weeks ended January 29.
X For the four weeks ended January 28.
Three weeks
16,567
1.222,250
1 2^,555
111,731
44,001
Net increase
*
$
$
226,702
67,618
36,603
—Jan. 1 to Dec. 31.—»
1880.
1879.
9,159
Expenses
Burl. Cedar Rap. A
Cairo A St. Ixiuis
•>,
21,922
Operating expenses
1881.
December.
1879.
1880.
••••••••
earnings
Operat. expen. A renewals
Gross
m
m
~
m
m
m-m
285,177
34,620,276
20,382,737
1,512,055 16,635,026 14,237,539
2,421,575 1,941,870 24,625,042
Operating expenses
1,126,253
Net earnings
m
116,936
1,429,600
1,144,423
Paducah A Elizabethtown-
Philadelphia A Erie—
Gross earuings
281,919
168,511
304,056
187,538
3,091,808
2,358,355 2,130,259
Net earnings
113,408
St. Louis Iron Mt. A South’n—
Gross earnings
656,951
116,468
1,369,379
961,549
Operating expenses....
...
Operat. and extr. expens.
Net earnings
3,727.734
655.413
6.265,597
5,292,611
369,739
210,325
4.075,226
2,992,036
287,212
445,088 2,190,371 2,300,555
170
The
THE CHRONICLE.
following figures have but recently come to hand:
1880.
$
Cairo & St. LouisGross earnmga
Operating expenses
Net
Great Western of CanadaGross earnings
Operating
expenses,
&o...
'
40,198
33,074
$
238,600
199,158
7,124
def. 116
77,625
39,442
£
£
100,726
135,720
174,038
61,006
£
£
122,671
1,951,811
1,316,231
1,648,315
1,227,193
51,417
635,580
421,122
$
$
418,600
379,500
261,500
228,800
157,100
150,700
Net earnings
1879.
$
375,759
298,134
Grand Trunk of Canada—
Net earnings
1880.
$
22,452
22,568
earnings
Gross earnings
Operat’g expenses
1879.
[Want of
fVot. xxxir.
space
the “Course of
compels
us
to omit remarks with regard to
Prices.’-]
Imports, Deliveries,
Great Britain.
etc., for
Import.—The import into Great Britain in 1880, compared
1879, showed an increase of 206,460 American, 45,120
Brazilian and 63,480 East Indian, and a decrease of
16,090
Egyptian and 18,410 sundries; or a net total increase of 280,560
with
bales.
Export.—The export trade has undergone a further expan¬
sion, the total shipments to the Continent in 1880 being larger
than in any of the previous four years. The increase in 1880
over 1879 was 46,870 bales,
chiefly American and East Indian.
Stocks in the Poi'ts.—The total stock in the ports at the end
ELLISON &
CO.'S ANNUAL
REVIEW
OF THE
COTTON TRADE FOR THE YEAR 1880.
[CONDUCTED
BY THOMAS
ELLISON.]
of 1S80
was
United
Kingdom.
510,840 bales, including 477,960 bales in Liverpool,
against 525,500 bales and 482,540 bale3 respectively, or a
decrease of 4,530 bales for Liverpool and 14,660 bales for the
Stocks held by Spinners.—The stocks held at the mills
estimate as follows, compared with 1S79 aud 1S78 :
The
we
improvement which commenced to show itself in the
second half, and became very pronounced towards the close of
1879, made further and very satisfactory progress during the
American.
Brazil.
Egyptian. IF. India. E. India.
Total.
past year. The rate of consumption exceeded even the most 1880...
130,000
3,000
30,000
2,000
5,000
170,000
..
.
9
7
8
80,000
sanguine
2,000
35,000
anticipations.
The
previous long
period of1
2,000
6,000
depression
125,000
...8781
10,000
73,000
18,000
2.000
7,000
110,000
had witnessed so many false starts towards returning
activity
that the public mind had acquired a chronic habit of regarding
Home Consumption.—The deliveries to home consumers were
every movement in the direction of renewed life and animation 3,123,260 bales, or 400,900 bales more than in 1879. The
actual
with more or less of scepticism and apprehension. From month
consumption was 3,078,260 bales, or 370,900 more than in 1879,
to month, therefore, the requirements of consumers were con¬ there
being an addition of 45,000 bales in the stocks at the
stantly under-estimated, while even when the immense increase mills.
in the out-turn of our mills could no longer be doubted, fears
Average Weights.—The average weight of last season’s crop
were expressed that the markets of
the world wer,e being of American was 452 lbs per ba]e ; but this season the
average
glutted with cotton goods, and that, sooner or later, a startling is at least 8 lbs per bale heavier. This for the twelve months
collapse would be witnessed. The fact that the production of ended Dee. 31 would give an average of 454 lbs. for the
year.
yarns and goods had been steadily decreasing since 1S74 was The average weights of all kinds in 1880
compare as follows
taken as a proof that the previous supplies had largely with those of the
previous year :
exceeded the consuming power of the world, and that the
United
West
production per capita would have to be permanently reduced;
Brazil. Egypt. Smyrna.
Surat.' Madras
Total.
States.
India.
if- Bengal.
whereas the real cause of the depression was the diminished
1880
454
190
629
152
390
310
436*3
power to buy, occasioned by' the enormous destruction of 1870
446
181
629
380
160
387
310
431*5
capital which in one form or another had taken place throughout
At the rate of 390 lbs. per bale for Surats and 310 lbs for
the world. If people waste capital in war, as they did in
France and Germany ; or squander it in bubble schemes, as Bengal and Madras, the average weight of East India imported
in 1880 was 363 lbs., against 354 lbs. in 1879. The
average
they did in Germany and Austria; or invest it in railway or
of
India
cotton
weight
East
in
1S79
352
exported
was
lbs. per
other works which cannot be remunerative for years to come,
bale
The average weight of East India consumed was 380 lbs.
as they did in the United States; or lose it in deficient harvests,
The official Circular gives the average weight of
Egyptian as
as they did all over Europe ; or in failed wine and silk
crops,
622 lbs., against 629 lbs.; but our inquiries among
importers
as they did in France and Italy ; or in a succession of
famines,
lead us to think that the average weight was quite as heavy
in
as they did in India and China—if all these things
happen, the 1SS0 as in
1879.
However,
we
shall
get
the
particulars
from
income of the world is reduced, and therefore its power of
Alexandria and publish them in a subsequent report.
buying. A rigid economy is enforced upon every one until old
Weight of Imports, Deliveriest &c.—The following is an
scores are paid off, and -until the earth yields forth abundant
account of the weight of each description of cotton imported,
harvests. Inflated values must come down, extravagant living
must cease, wages and all other charges entering into the cost exported and consumed in 1880, and the quantities left in the
ports at the end of the year :
-of production must be reduced.
By and by the world is
restored" to industrial and commercial convalescence, and once
Stoc/c
Import.
Export.
Consumption. Dec. 31.
more production and consumption are placed on a sound basis.
The process is slower at some times than at others, according
Ijbs.
Lbs.
Lbs.
Lbs.
1,195,808,760 77,361,600 1,080,014,110 167,385,266'
to the extent of the previous destruction, or loss, or over-con_ American
Brazil
23,295,900
1,147.600
22,285,7 80
1,567,500
151,022,900
5,610,680
163,533,710 34.7(54,830
sumption, of capital. The recovery- from the war and inflation Egyptian
Pcr’viau.W.I., &c
11,176,560
3,841.010
9,532,560
1,190,160
period of 1870-74 was slower than usual, because of the subse¬ East Indian
206,768,430 112,837,120
97,270,470 25,134,000
quent bad harvests in Europe and the East, which entailed a
Total
1,538,072,550 200,798,040 1,372,636,630 230,041,750
further heavy loss of capital; but that the recovery commenced
more than twelve months ago there can be no doubt, and that
Recapitulation.—The entire movement for the year is
it will go on during the new year is as morally certain as any¬ shown in the following
statement:
thing in the future can be.
That the position of spinners and manufactures lias under¬
Number of Average
Total Weight
Weight
Bales.
of Bales.
per Bale.
gone a considerable improvement is shown in the following
comparison of quotations :
‘Lbs.
Lbs.
.
Average Prices.
Advance.
1879.
1880.
d.
d.
•Cotton—
Low
Middlug Upland
Middling Upland
Fair Dhollera
Yarn—
30s, Water Twist, best 2ds
40s, Mule Twist, best 2ds
328 Cop Twist, average
•Clo i h—
Printers’ 4H lbs
Printers’ 5*4 lbs
Shirtings, 7 lbs
.Shirtings, SI4 lbs
per
lb.
lb.
ib.
11).
>Sliiitini'S. ••'Aj lbs...:i\er:»go per 11*.
d.
611ig
*2
6151<3
5S
5
514
*4
.
9
per
per
per
Supply
C;hft
6^10
934
934
lOLj
10 34
10316
9Lj
913ir>
103t
11 3*
Stock in the ports Jan. 1
Stock held by spinners Jan. 1
Import during the year
Total
1
10
2
1
Export during the year
Stocks in the ports Dec. 31
Stocks held by spinners Dec*. 31...
Home
llLj
1
iiUe
ii'ho
13S
105g
1 «S
lO"*
Hir
consumption
Consumption
1110
The
fullowing is
a
of
525,500
447/1
23 4,987,870
125.000
3,639,790
483*4
436*3
61,055,000
1,588,072,550
4,290,290
439*1
1,88 4.115,420
531,190
378*0
510.840
200,798,040
230,011,750
170,000
450*3
474*3
1,212,030
422*0
511,478,790
3,078,260
445 9
1.372,036,630
Great Britain
for
80,639,000
Ten Years.
comparative Statement of the consumption
of cotton in Great Britain for the past ten years ;
THE CHRONICLE
IteRTMRY 12, 1&81.J
Tears.
Lbs.
Bales.
Years.
weeks of the
Lbs.
Bales.
171
think that the rate of
season we
consumption
was
about
67,000 bales of 400 lbs. per week in Great Britain, and
1,230.388,800
1,372,636.030
1880.. 3.078,260
1,173,325,900
1.266.120.250 53,000 on the Continent, or a total of 871,000 and 689,000 bales
1870.. 2,707,360
1,246,140,010
1,176,451,070
1878.. 2, G82,310
Last season the mills in Great Britain were
1,237,373,500
1.175.345.250 respectively.
1877.. 3,020,540
1,274,376,750
1.205.455.250
1876.. 3,084,000
working short-time in October and the first ten days of Nov¬
In order to give a correct comparison of the amount of cot¬ ember, but the rate of consumption in December was at least
During the subsequent nine months of
ton consumed, we have reduced the balejfto the uniform weight 64,000 bales per week.
the season the rate of consumption was between 65,000 and
of 400 lbs. each, as follows :
66,000 bales per week ; an average of 65,500 would give 2,554,000
Total in Bales A verage
Total in Bales Average
bales, which deducted from the total for the season—3,350,000
o f 400 lbs.
pier week.
of 4 OO lbs.
per w’k.
bales—would leave 796,000 as the quantity used in the quarter
1875
1880....
50,160 ended
65,000
8,431,500
3,075,070
December 31, 1S79. On the Continent the consumption
1874
56,410
1870....
2,933,310
60,870
3,165,323
56.560
1873
1878....
3,115,374
50,010 in the three months averaged about 50,000 to 51,000 bales per
2,941,120
1872
1877....
50,510
3,004,430
2,938,303
56,510
6S1,000 bales for the 13^
1871
1876....
61,270
3,185,040
3,013,638
57,050 week, or a total of about
weeks (the whole season consisting of 52}£ weeks, as
The consumption in 1880 was the largest in the history of the
trade. The previous largest was in 1876. Compared with that explained in our Autumn Annual.) The consumption of the
season was 2,725,000 bales ; there would, therefore, be 2,044,000
year, 1880 shows an increase of 4,720 bales per week, or 7*7 per
left for the last nine months—say an average of 52,410 bales
cent.
Compared with 1879, the increase is 9,5S0 bales per
1875..
1874.:
1873
1872..
1871..
.
close
3,115,120
3,228,130
3,203,710
3,265,620
3,114,780
cent. The present rate of consump¬
tion is about 67,000 bales of 400 lbs. per week, or 60,000 bales of
week,
or
upon
17
per
445*9 lbs.—the average
weight of the consumption in 1880.
Average Value
The average
value
per
Pound
per
lb. of
raw
Imports, &c.
cotton imported, exported
per
week.
On the basis of the
in bales of the uniform
of
and consumed, for the past ten years, we estimate as follows
foregoing estimates, the movements for
season and last, compare as follows*
weight of 400 lbs.:
the thirteen weeks of this
Great Britain.
1880.
1880. 1879. 1878. 1877. 1876. 1S75. 1874. 1873. 1872. 1871.
d.
Import....
Export
Cons’mp* >
d.
6*4
513ic 5%
63fi
65ie
6*2
d.
a.
a.
6*4
6*8
GLe
511ie 513ie 5*4
6*8
65ift 63lfi
a.
a.
d.
7*2
868
57e
6
n.
7*8
7C0
834
7*ie
d.
95ie
Continent.
:
d.
913ir> 8^8
Imports, Deliveries, &c., for the Continent.
1880.
1879.
27,000
27,000
137,000
967,000
839,000
697,000
94,000
668,000
Supply
Consumption, three months....
094,000
871,000
866,000
796,000
834,000
689,000
762,000
681,000
Surplus stock Dec. 31
123,000
70,000
145,000
81,000
Surplus stock, Oct. 1
;
Deliveries to Dec. 31
8
7*8
1870.
Imports.—The imports into Continental ports direct from
Prospects of Supply and Consumption.
growth (exclusive of 1,030 bales re-exported to
Four months ago the current estimates of the probable yield
Great Britain), compared with the arrivals in 1879, show a
of
the American crop differed to the extent of a million bales,
decrease of 63,860 American, 6,280 Egyptian and 6,750
the range being from 5,500,000 to 6,500,000 bales ; and they
Smyrna, &c., and an increase of 16,360 Brazilian, 3,430 West
India, &*c., 136,040 East Indian, making a net increase of 78,940 still differ to the extent of a half million bales,—say from
bales. There was an increase of 46,870 bales in the import 5,700,000 to 6,200,000. Throughout the four months, however,
from Great Britain, which raised the increase in import to 125,- the actual developments of the crop have pointed to a total of
somewhat between 5,750,000 and 6,000,000 bales, and this,
810 bales.
Stocks.—The stocks in the ports at the close of the year, in point of fact, has been the popular estimate. At one time
compared with those of twelve months previously, showed an the leaning was towards 5,750,000, but at present it is rather
increase of 29,570 American, 1,020 Brazilian, 1,270 Egyptian towards 6,000,000. The movements so far this season compare
and 10,950 East Indian, and a decrease of 640 Smj^rna and 560 as follows with those of the previous two seasons :
the countries of
West Indian, or a net increase of 41,610 bales.
Deliveries.—The deliveries to
610
consumers
1881.
amounted to 2,G3.r>,-
bales, against 2,572,370 bales in 1879, showing an increase
of 62,940 bales. The average
bales in 1880, against 49,468 in
weekly deliveries were 50,684
1879, an increase of 1,216 bales
per week.
The weight of cotton delivered was 1,119,560,110
lbs. in 1880, against 1,088,112,510 lbs. in 1879, the average
weight of the bales delivered being 4*24*7 lbs. in 1880 and 423 in
1880.
1879.
Port receipts to Jan. 21
3,825,000 3,628,000 3,034,000
162,000
257,000 324,000
Increase in interior stocks Rince Sept. 1..
204,000
254,000 337,000
Estimated Southern consumption
76,000
100,000
90.00C
Overland to Dee. 31
off
Deliveries from plantations to Jan. 21... 4,436,000 4,370,000 3,526,000
Do.
Jan. 21 to
Aug. 31
Total crop
1,378,000 1.547,000
5,757,000 5,073,000
1879.
The question is, how much cotton is likely to be delivered
Imports, Deliveries and Stocks for Europe, 1880 and 1879. from the plantations from the 21st January to the end of the
The following is a comparative statement of the total imports, season? The same as last
year would give a crop of 5,814,000
&c., for the whole of Europe in each of the past twro years :
bales; the same as in 1879 would give one of 5,983,000 bales ;
an average of the two figures would give 5,898,000 bales.
The
Deliveries.
Stock 31 st Dec.
Import.
same proportion as last year wTould give 5,832,000 bales ; the
same proportion as in 1879 would give 6,382,000 bales; an
1880.
1870.
1880.
1879.
1880.
1870.
average of the two would give 6,107,000 bales. There are
American.... 3,982,300 3,840,200 3,922,330 3,723,100 471,000 411,030
very good authorities who believe that the deliveries from the
Brazilian
104,110
166,000
165,590
116,850 10,530 11,840
392,520 303,380
357,800 58,330 80,870 plantations henceforth this season will be much less than they*
370,840
Egyptian
26,720
31,160
27,360
34,400
2.110
Smyrna, &c..
1,470
were in the corresponding period of last season,
and they
02.550 12,220 26,020
88,550
103,530
102,350
Peru,W.I., <fec
-
....
East Indian. 1,151,320
Total
951,800 1,146,050
970,030 117,880 112,610
5,785,820 5.426,320 5,758,370 5,294,730 671,430 644,480
Movements During the Season, Oct. 1 to Dec. 31.
The deliveries to English and Continental spinners during
the first three months of the season compare as follows with the
figures for the corresponding period of last
Great BHtain.
Continent.
1870.
1880.
season :
1880.
1879.
No. of bales..
854,410
749,170
632,880
Av.wgbi (lbs)
453
448
441
435
Tot.wght(lbs)
387,047,730
335,628,160
279,100,080
267,598,950
067.000
830.000
697,000
Bales of 400
lbs
615,170
believe that the total delivered will not exceed 5,700,000 bales.
The foregoing is a brief summary of the facts to date and of
the deductions drawn therefrom by representative authorities.
We have already stated that at present public opinion leans
against 5,750,000 bales, but the leaning is
pronounced character, and probably if a poll were
taken the average would be somewhere about 5,900,000 bales;
However, as 6,000,000 bales is not an unreasonable estimate,
it will do no harm to adopt this figure in estimating the out¬
look of supply for Europe for the first nine months of 188L
Our readers can easily adjust the figures to meet their own
towards 6,000,000 as
not of
a
very
views.
‘
668.000
Assuming the American crop to reach 6,000,000 bales, the
monthly report, we estimated the average weight
ports to be the same at the close as at the opeuing
of American cotton at 452 lbs. per bale ; but the real average of the season, and the requirements for American spinners and
of the shipments from America during the first four months of for export to Canada, Mexico, &c., to reach 1,900,000 bales,
the season was 460 lbs. net. We have added this difference to against 1,851,000 last season, there will be available for ship¬
the previous estimate of consumption, and for the first thirteen ment to Europe 4,100,000 bales, against an actual shipment of
In
our
last
stock in the
THE CHE0N1CLE.
172
3,830,000 bales last
will compare as
season.
follows
The movements for the two
seasons
[Vol. xxxir.
IMPORTS AND EXPORTS FOR
DECEMBER, AND
FOR TWEL VE MONTHS ENDED DEC. 31, 1880.
:
[Prepared by tbe Bureau of Statistics, i
Total export
Already shipped to Dec. 31
Available for export Jan. 1 to
Afloat Dec. 31—Great Britain
Continent
Probable import Jan. 1 to
Aug. 31
.
Sept. 30
1880-81.
1879-80.
4,100,000
1,987,000
3,830,000
1,705,000
2,113,000
2,125,000
299,000
336,000
354,000
342,000
2,809.000
Actual import last year
The
|
2.760,000
2,801 .OOO
I
imported last year consisted of shipments made
September. A similar excess this year would
give an import of about 2,850,000 bales in nine months.
If the stock in the American ports, which at the opening of
excess
in the month of
the
season was
141,000 bales, should be reduced 40,000
50,000
or
bales, the extra supply would come to Europe in the event of
our estimate of American consumption not being exceeded.
We have called it only about 50,000 over 1879-80; some authori¬
ties think the increase will be 100,000 bales.
From India we expect a little more than was received last
year, say 1,100,000 bales, against 1,039,000. Egypt will proba¬
bly send about the same as in the corresponding nine months
of last year, the deficit in the present crop being already
counted in the diminished imports between October 1 and
December 31. From the Brazils, Peru, West Indies, Smyrna,
&c., we may get 280,000 bales, against 225,000 bales.
If to the quantity to receive between Dec. 31 and Sept. 30 we
add the stocks on hand Dec. 31, we get the total supply avail¬
able for the nine months
Below is
values,
Stock Dec. 31.
Total
Supply.
follows
was as
The excess of
as follows:
1880.
1880.
1879.
1881.
1880.
American...
East Indian.
2,850
2,801
3,212
1,100
1,039
210
280
239
225
411
112
81
40
3,321
1.218
Egyptian....
471
118
58
24
298
304
320
205
644
5,141
Sundries
....
Total....
4,470
671
4,304
251,557,029
imports of gold and silver coin and bullion
weight of the total supply is 432 lbs. per bale
this year, aga inst 429 lbs. last year. In bales of 400 lbs. the
totals are 5,552,000 bales and 5,307,000 respectively.
In the first nine months of last year the rate of consumption
was about 65,530 bales per week in Great Britain and about
52,400 on the Continent, or close upon a total of 118,000 bales.
The present rate is 120,000 bales. An increase of 2% percent
on last year would give a total of 121,000 bales per week for
the coming nine months—say 67,000 to 68,000 for Great Britain
and 53,000 to 54,000 for the Continent. A consumption of
121,000 bales per week for thirty-nine weeks would require
4,719,000 bales.
$15,764,154
5,877,322
69,229,822
07,375,960
imports and of domestic and foreign
exports for the month of December, 1880, and for the twelve
months ended Dec. 31, 1880 and 1879, respectively, are pre¬
sented in the following tables, all in specie values :
[Corrected to January 26, 1881.J
MERCHANDISE.
For the
month of
December.
14,069,347
1,776,902
$98,856,632 $889,649,840
47,372,788 696,803,433
Foreign
Total
Imports
Excess of exports over
Excess of imports over
For
the 12
months end¬
ed Dec. 31.
$97,079,730 $875,580,493
1880.—Exports—Domestic
imports
exports
$51,483,844 $192,846,407
I
1879.—Exports—Domestic
Foreign
$79,763,983 $754,656,755
Total
$80,880,003 $765,159,825
59,602.961
Imports
exports over imports
imports over exports
GOLD
10,503,070
1,116,020
513.602,796
$21,277,042 $251,557,029
Excess of
Excess of
AND SILVER—COIN
AND BULLION.
Foreign
Total
Imports
Excess of imports over exports
Excess of exports over imports
$1,468,520
554,029
$8,415,902
7,629,999
$2,022,549
$16 045,901
17,7S6,703
35,275,723
$29,229,822
$15,764,154
$1,660,672 $18,670,298
1879.—Exports—Domestic
Foreign
521,717
7,146,700
$2,182,389
$25,816,998
8,059,711
93,192,958
(' 5,877,322
67,375,960
..
Total
Imports
Excess of exports over imports
Excess of imports over exports
&
$
TOTAL MERCHANDISE AND SPECIE.
1880.—Exports—Domestic
Foreign
$98,548,250 $883,996,395
Total
100,879,191 $905,695,741
65,159,491 782,079,156
$35,719,690 $123,616,585
2,330,931
Imports
Excess of exports over imports
Excess of imports over exports
21,699,346
1879.—Exports—1-Domestic
Foreign
$31,424,655 $773,327,053
Total
$83,062,392 $790,976,823
The entire movement for the nine months would compare as
17,649,770
1,637,737
67,662,672
Imports
Excess of exports over imports.".
Excess of imports over exports
:
was
The total values of
1,151
4,948
21,277,042
102,846,407
1880.—E x ports—Do mest ic
The average
follows, in bales of 400 lbs. each
$51,483,844
%
Month ended December 31, 1880
Month ended December 31, 1879
Twelve months ended December 31,1880
Twelve months ended December 31, 1879
.
1881.
:
Month ended December 31, 1880
Month ended December 31, 1870
Twelve mouths ended December 31, 1880
Twelve months ended December 31, 1879
:
Imports to Sept. 30.
given the sixth monthly statement for the fiscal
and exports of the United States.
of merchandise, stated in specie
year 1880-81 of the imports
The excess of exports
606,795,754
$15,399,720 $184,181,069
€
1881.
Import and stock
Surplus stocks at the mills
Supplv
Consumption nine mouths
Stock September 30
Of which at the mills
And at 1 he pons
1880.
5,552,000
268,000
5,820,000
4,719,000
1,101,000
164.000
937,000
5,307,000
151,000
.
5,458,000
4,598,000
860,000
164,000
696,000
The
following is
a
statement showing, by principal customs
districts, the values of merchandise imported into and exported
from the United States during the month of December, 1880:
*
Customs Districts.
Imports.
Baltimore, Md
Beaufort, 8. C
Boston, &c., Mass
Brazos, &c., Texas
Brunswick, Ga
ordinary bales the stocks at the ports at the close of last Buffalo
Creek, N. Y
season was 677,000 ; the average weight being about 411 lbs.
Cape Vincent, N. Y
Champlain, N. Y
per bale. The excess is 241,000 bales, but a large portion of it Charleston, S. C
...‘1
Chicago, III
will consist of very low grades.
Corpus Christi, Texas
Bearing in mind the universally admitted inferior quality of Detroit. Mich
Fernandina, Florida
the American crop, it is just possible that, with continued good Galveston, Texas
Huron, Mich
trade, our estimate of consumption may be exceeded. An in¬ Minnesota.
Minn
creased waste of only two per cent would mean an additional Mobile, Alabama
New Orleans, La
consumption of over 2,000 bales per week. In forecasting the New York, N. Y
course of prices, this fact ought to be kept in view,
as should Niagara, N. Y
Norfolk, &o.t Va...
also the possibility that the crop may not reach the assumed Oregon, Oregon
total of 6,000,000 bales. A lapse of a few weeks will throw a Oswegatchie! N. Y
Oswego, N. Y.
good deal of light upon both of these points. Meanwhile, with Passamaquoddy, Me
Pensacola, Fla
apparently a prospective supply sufficient to leave a much Philadelphia, Pa.
&c., Me
larger stock at the close than at the opening of the season, the Portland,
Richmond. Va
natural inference is that (as was stated in our Autumn Annual) Saiuria, Texas
San Francisco, Cal
the average price of middling upland will be lower this season
Savannah, Ga
than last, though not so low as the average for the previous Vermont, Vt
\Vi 11 amette, Oregon
Wilmington, N.
Ellison & Go., Cotton Brokers.
7 Kumford Street,
Liverpool, January 26,1881.
U
All other customs districts
Total
Foreign
Exports.
Exports.
$1,334,339
$6,791,834
31.178
869,529
$1,143
(),75S
71,356
120.069
75,34-
S 1,078
3,727
430,791
100,642
45,524
173,656
5,801
115,554
6,944,517
3,938,648
In
three'seasons.
Domestic
21,952
I
/
1,459
8,608
1,501
49,659
48,979
130,200
1,805
223,310
203,551
18,147
100,316
1,343,006
31,651,356
368,569
9,908
.
•
9,403
1,393,836
97,124
1,473
3,844,092
133,454
23,265
2,734
69.435
2,189
62,592
28,139
180,722
,2,923,629
2,466
456,367
33,058
254,039
78,898
3,220,895
53,615
61
.
1,225
108.693
33,623,846
446
*
47,991
197,101
63,488
4,175,674
789,572
99,211
435,092
15,761,883
1,773.009
57,263
9,947
20,080
4,126,859
73,942
585,140
48,606
12,609
186,975
6,217,972
147,656
394,630
1,660,006
137,963
683
f
r
44
$47,372,788 $97,079,730 $1,776,902
TREASURY STATEMENT.
The following statement, from the office of the Treasurer, for
February, was issued this week.
It is based upon the actual
returns from Assistant Treasurers, depositaries and superintend¬
UNITED STATES
and
ents of mints
assay
offices
:
1, 1£S1.
LIABILITIES, FEBRUARY
Post-office Department account
Disbursing officers’ balances
Fund for redemption of notes of
national banks “failed,” “ in
liquidation,” and “reducing circulation”
Undistributed assets of failed national banks
Five per cent fund
for redemption of national bank
•
notes
Fund for redemption of national bank gold notes
Currency and minor-coin redemption account
Fractional silver-coin redemption account
Interest account
Interest account, Pacific Railroads and
Co
Treasurer U. 8., agent for paying interest on
L. & P. Canal
D. C. bonds....
checks and drafts outstanding
Treasurer’s transfer
Treasurer’s general accountinterest due and unpaid
Matured bonds and interest
Called bonds and interest
Old debt
Gold certificates
Silver certificates
Certificates of deposit
Balance, including bullion
$2,043,572
10,010,149
20,097,283
448,800
15,104,206
448,185
' 4,800
40,080
160,828
40,610
308,000
0,102,003
$8,038,277
2,104,814
5,051,508
810,352
0,511,480
46,800,220
8.030,000
143,438,004
fund
$222,375,310
Total Treasurer’s general account
Less unavailable funds
700,781
$221,674,535
$287,007,707
ASSETS, FEBRUARY
1, 1881.
$00,797,508
98,740,700
Gold'coin
Gold bullion
Standard silver dollars
Fractional silver coin
Silver bullion
Gold certificates
Silver certificates
United States notes
National bank notes
National bank gold notes
Fractional currency
-
.
Nickel and minor coin
New York and San Francisco exchange...
One and two-year notes, <fcc
Redeemed certificates of deposit, June 8, 1872
50,235.102
25,400,904
7,704,197
50,080
9,985,583
10,181,010
0,200.210
130,190
50,442
11,145,848
Deposits held by national bank depositaries
802,015
1,917,000
21
...
Suarterly
checks and
coin paid
coupons paid
interest
egisteredinterest
and unclaimed
457,108
Speaker’s certificates
146,049
U. S. bonds and interest
Interest on District of Columbia bonds
5,479
$287,097,707
,
f$l0ueiarr)£ Commercial English Hems
RATES OF EXCHANGE AT LONDON AND ON LONDON
AT LATEST DATES.
EXCHANGE AT LONDON—Jan. 28.
Amsterdam
Amsterdam
.
.
Short.
3 mos.
U
Antwerp....
Hamburg
u
Berlin
Frankfort...
Copenhagen.
li
St. Peters’bg.
Paris
Paris
Vienna
Madrid
Cadiz
Genoa
44
44
24%
%i
mos,
<4
@2060
@20-66
@18*45
.Jan.
Jan.
Jan.
26"15
@20-25
44
44
44
....
•
•
•
Is. 7%d.
Is. 7%d.
•
....
urgent business to conduct have ventured out;
frustrated many plans, and have
brought business to almost a complete standstill. Telegraphic
communication with the provinces and with the Continent has
been greatly impeded ; and as much difficulty has been expe¬
rienced in conducting operations on the Stock Exchange, the
business of that department has been unusually restricted.
The railway traffic returns which will be issued next week will,
of course, show very poor results—a falling off, probably, of as
much as fifty per cent. To make up that loss will be difficult,
and hence the value of British railway shares has had a droop¬
ing tendency. Amongst foreign securities the only prominent
movement has been a rise in the value of Chilian and Peru¬
vian stocks, the capture of Lima by the Chilians leading to the
belief that the war will speedily terminate.
The French having purchased large amounts of stock of
late, small quantities of gold have been remitted here of late
from Paris, but, as their indebtedness is great, there is an im¬
pression that the foreign market will be depressed by heavy
sales of stock on French account. Although the bank return
for the past week shows some satisfactory results, there are
not the same facilities afforded for speculation as was the case
a few weeks ago.
Business has now to be conducted with
much greater caution as so many have been speculating beyond
their means, whereby much anxiety has been produced. It
was evident that speculation on so active a scale must sooner or
later be curtailed if a very critical condition of things was to
be avoided; and the position seems of late to have engrossed
considerable attention, as the magnitude of many accounts has
been largely curtailed. The fortnightly settlement which was
concluded last week was of so onerous a character, and was.
attended by so many, though not inseperable difficulties, that
a desire has been evinced to diminish so great a risk.
The next
account will be comparatively light, and it is certainly a very
satisfactory feature that no failures of importance have taken
place.
Impeded and uncertain railway and telegraphic communica¬
tions have, to a considerable extent, deranged the money
market, but the tone of the market has been good and very
little accommodation has been pr®curable under the bank rate.
The bank return shows that a considerable amount of loans has
been returned to the Bank of England, both by Government
and by the public, while the total reserve has been augmented
by £335,039. The proportion of reserve to liabilities is now
43*53 per cent, against 40 83 per cent last week.
The present
qnotations for money are as follows:
who have had
but the elements have
Per cent.
Rate.
Bank rat©
28
Short.
12-12
Open-market rates—
30 ami 00 days’Dills
28
28
28
28
Short.
25-36
20-42
20-42
20-42
44
44
44
@24%
525ifi@523,fi
Bombay.... 60days
Shanghai....
@ 2006
the great city, for quietness, is more like an ordinary provin¬
cial market town. The consequence has been that only those
Time.
28
Short.
28
3
mos.
25-36
118-65
47%@47
4738@47%
44
Lisbon
Alexandria..
New York...
Calcutta
Hong Kong..
Jan.
Short. 25\32%@ 25‘42% Jan.
3 mos. 25*57 %®25-62%
44
Jan.
1200 @12-05
3
Naples
@12-3
124% @12*5
25-57% a-25-62% Jan.
20-62
2002
20-02
18-40
...
44
12-2
EX OHA NGE ON L OND ON.
Latest
Date.
Rate.
Time.
On-
173
THE CHRONICLE.
1881, ]
February 12,
3%
3%@3%
Per cen t.
3% @3%
4 months’ bank bills
6 mouths’ bank bills
3% @3%
4 & 0 mouths’ trade bills. 3% @4
33so3%
3 mouths’ bills
The rates of interest
discount houses for
Open-market rates —
allowed by the joint-stock banks
deposits
are as
follows
:
and
Per cen/.
2%
2%
23*
Joint-stock banks
Discount houses at call
with 7 or 14 days’notice
Do
position of the,
England, the Bank rate of discount, the price of consols
the average quotation for English wheat, the price of middling
upland cotton and of No. 40 mule twist, fair 2d quality, and the
Bankers’ Clearing House return, compared with the three pre¬
The
following statement shows the present
Bank of
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
28 3 mos.
28 3 mos.
25 3 mos.
28 Short.
28 4 mos.
44
28
44
28
28
44
25-55
25-55
96%
4 81
Is. 7iil6d.
Is. 7%d.
3s. 8%d.
5s. 2d.
f From our own correspondent.!
vious
years :
1881.
Circulation, excludin*: Bank post bills.
Public deposits
Other deposits
Other securities
1880.
£
1879.
£
1378.
£
26,305,205 27,094,270 33,243.450 27,097,735
3,705,653
3,972,478
4,119,540
4,663,711
24,973,507 30,854,58 L 32,599,418 26,110,478
14,353,300
20,517,645
Res’veof notes & coin 12,913,933
Governm’t securities.
London, Saturday, Jan. 22,1881.
£
18,904,788
18,306,240
17,002,974
26,371,438
17,652,509
17,809,437
15,933,079
11,466,447
12.616,999
entirely suspended this week in Coin and bullion in*
24 714,734
both departments.. 24,279,138 28,027,940 29,709,89:
consequence of the severity of the weather and the large accu¬
Proportion of assets
43-53
to liabilities
mulations of drifted snow, which have impeded, to a very seri¬
3 p. c.
4 p. c.
3 p. c.
3% p. c.
Bank rate
95%
96is
98 %
ous extent, our railway communications. The storm of Tuesday
98%
Consols
52s. Id.
38s. lid.
45s.
lid.
42s.
Id.
wheat, av. price
last will be long remembered throughout the country, as the Eng.
63gd.
5316d.
Mid. Upland cotton..
10 %d.
8%d.
ll%d.
10%
weather has been as inclement on the more genial south coast, No. 40 mule twist.
Clearing-House ret’n. 156,622,000 144,198,000 92,476,000 90,814,000
in the exposed north. Business men found it difficult,
if not impossible, to return to their suburban residences
Except that a few parcels have been received from Paris,
has been no important movement in the gold market.
there
on
Tuesday evening, but every hotel in the Metropolis was
is no export inquiry for the United States. The tendency
There
besieged by the benighted, and much privation arose in conse¬
quence. Some ventured to walk home some ten to fifteen of the Indian exchanges being weak, silver has declined to
miles, others stayed in railway carriages throughout the night, 51%d., while the price of Mexican dollars is only 50%d. to
and never reached their residences until mid-day on Wednes¬ 50%d. per ounce. On Wednesday India Council bills were sold
day. Locomotion in the Metropolis has been very difficult, and at Is. 7%d. the rupee.
Business has been almost
174
THE CHRONICLE.
The
following are the current rates of discount at the prineipal foreign centres;
Bank
Open
Bank
rate.
IV. ct.
market.
IV. ct.
3
Open.
rate.
market.
Fr. ct.
G
5
[Voi* zxxii.
have been in the whole
kingdom 116,000 quarters, against
131,500 quarters, and 203,600 quarters in 1880 and 1879, respertively. Since harvest the sales in the 150 principal markets have
been SIS,750
and 1,132,825
quarters, against 622,903 quarters last year,
quarters
in 1879 ; the estimate for the whole
3
24
Geneva
4
Brussels
34
34
Madrid, Cadiz &
kingdom being 3,275,000 quarters, against 2,491,700 quarters in
Genoa
4
Barcelona
34
4
5
1SS0. and 4,531,300 quarters in 1879.
Without reckoning the
Berlin
4
Lisbon
34
ct Oporto.
54
5
Frankfort
4
34
Copenhagen
34 To 4
34
supplies
of
furnished
produce
ex-granary at the commencement
4
34
Hamburg
5 a/G
j New York
of the season, it is estimated that the following quantities of
4
Vienna
34
I Calcutta
4
At the meeting of the London and Westminster Bank on wheat and flour have been placed on the British markets since
Wednesday the directors’ report was adopted. It stated that harvest. The visible supply in the United States is also given:
1880-1.
1870-80.
1878-9.
1877-8.
the net profits for the half-year amounted to £190,345, out of
Imports of wheat.cwt.24,4 10.058 29,153,800 21,100,098 2\71G,476
Paris
Amsterdam...
...
.
3*2
IV. ct.
St. Petersburg
..
...
0
...
...
...
...
...
...
which, after the deduction of £9,108 for interest at 5 per cent, Imports or Hour
5,233,000
5,113,800
3,288,003
3,431,505
Sales of liome-grown
new shares, a dividend of 9
per cent was declared for the
produce....
14,192,000 10,797,000 19,035,000 10,993,800
six months, leaving the rest or surplus fund at £1,015,047. The
Total
43,870,004 45,034,000 44,084,901. 40,141,781
balance-sheet contains the following items, viz.: Current Deduct
exports
of
wheat and flour
005,480
470,589
861,310
1,017,297
accounts and deposits, £22,102,169; acceptances, £048,415 ; cash
in hand and at the Bank of England, £3,826,920 ; money at
Result
43,205,181 44,594,011 43,223,591 30,023,434
call
price of English
and short notice, £3,884,730 ; securities of the British Govern¬ Av’ge
wheat forseasou (ur.)
42s. 7d.
47s. 91.
40s. 101.
53s. Id.
supply of wheat
ment, including £1,000,000 lodged for the Metropolitan Board Visible
iu the U. S
bush.28,800,000 30,500,000
of Works, £4,316,074 ; Indian securities and United States four
The following return shows the extent of the imports and
per cent Funded Loan, £1,215,563 ; and bills discounted, loans,
exports of grain &c., into and from the United Kingdom
and other securities, £12,764,372.
during the first twenty-one weeks of the season, compared with
The prospectus has appeared of the Dominion of Canada
the corresponding period in the three previous years:
Land and Colonization Company (Limited), which is brought
IMPORTS.
out for the purpose of dealing with extensive tracts of freehold
1880-81.
1879-SO.
1878-79.
1877-78.
Wheat
cwt.24.410.053 29,153,800 21,100,098 25,710,476
land, to be sold to emigrants in farms of various sizes. Much Barley
0,000,411
7,713,459
5,901,209
6,703,129
4,973.000
of the land already secured is in the province of Quebec. The Oats
0,004,781
5,449,651
5,133,756
Peas
1,184,701
790.076
876.062
1,109.021
capital is £500,000, in 50,000 shares, half of which will be first Beaus
1,003,312
1,288.394
558.357
1,759,340
on
'
..
radian
issued.
10,561.334
5,233,000
corn
Flour
A
prospectus has appeared of the Organos Gold Mines
(Limited) with a capital of £15,000 in £1 shares. The mine
0,436,532
5,113,800
12,590.410 12,086,434
3,283,003" 3,431,505
EXPORTS.
1830-81.
1879-SO.
1878-79.
1877-78.
00.3,253
421,824
820,482
Barley
11,280
7.585
05,086
Anglo-American Telegraph
Company (Limitee) it was resolved, after placing £75,000 to the
credit of the renewal fund, to recommend at the half-yearly
meeting the declaration of the following dividends: (1) A
balance dividend of 15s. per cent upon the ordinary stock for
the half-year; (2) a balance dividend of £1 per cent on the
preferred for the year; and (3) a dividend of 10s. per cent on
the deferred for the year. After these payments there will be
Oats
Peas
Beaus
Indian
Flour
255,047
41,795
71,759
15,501
410,302
48.705
47,294
133,458
993,642
31,417
04,647
14,207
10,917
55,602
40.828
23,055
small balance to be carried forward. The dividends, with
those already paid, will amount to 3^.£ per cent on the ordinary
Communication
stork, 6 per cent on the preferred and /{• per cent on the de¬
ferred for the past year. In view of the action now pending
against the company and the directors to restrain the payment
of further dividends, the board are advised to
suspend payment
of the proposed dividends until the legal proceedings
are at
an end or
the court has sanctioned the payment. On the
ordinary stock the distribution for the year 1879 was 5 per
cent, and on the deferred, 4 per cent, the dividend on the pre¬
ferred being, of course, met in full.
A meeting of
the
bondholders and stockholders of
the
New
York
Pennsylvania & Ohio Railroad Com¬
pany (late Atlantic & Great Western Railroad Company) is
convened for Thursday, the 10th proximo, to receive a
report
of the reorganization trustees as to the completion of the re¬
and the roads
nearly £40,000, which is equivalent
the ordinary stock. There is
also a falling off on other lines, but not to so serious an ex¬
tent. To make up for this loss will be a very difficult matter;
but there will no doubt be a large movement of goods
traffic, as for several days the railway companies were unable
construction of the Atlantic & Great Western Railroad Com¬
to execute the orders entrusted to them.
is situated in the United States of Colombia.
At a meeting of the board of the
a
pany,
and for other
purposes.
Meetings will also be held of
Wheat
cwt.
39.923
17,033
147,721
corn
00,227
8,300
3,519
London, Saturday, January 29, 18S1.
The weather during the early part of the week was very
severe, but there has been a sudden change, and a rapid thaw
CJ'
has since
the
taken
place, and tho snow is quickly disappearing.
been restored by rail and telegraph, but
navigation of the rivers and canals is much impeded by ice,
has
are
in
a
bad condition.
Arrears of work are,
however, being recovered as speedily as practicable, and should
the weather remain mild, the country will have assumed its
ordinary aspect. That the heavy fall of snow was the cause of
much inconvenience and loss, is evident from the fact that the
falling off in the traffic receipts of our railway companies last
week, compared with the corresponding period of last year, was
very serious.
The diminution in the receipts of the Great
Western
to
a
undertaking
were
dividend of half per cent on
probably be recovered, and consequently it
the half-yearly returns will be disappointing.
The value of British railwaj’ shares declined considerably, in con¬
A statement just issued of the gross
earnings and expendi¬ sequence of the hindrances to traffic; but the low quotations
tures of the Cleveland Columbus Cincinnati &
Indianapolis current have attracted the attention of speculators and invest¬
Railway for the year 1880, gives the following results : Gross ors, and a recovery has of late taken place.
receipts, $4,580,000 ; deduct expenses, $3,032,164 ; ditto inter¬
The money market has been very firm in tone during the
est, $430,000; and ditto taxes. $116,000—$3,573,164 ; in all, week, and the supply of money having fallen off, the discount
leaving $1,001,836 ; less construction, including real estate, houses have resolved to allow one-quarter per cent more interest
Front street, $121,181 ; bringing out a balance of $880,655, for
money deposited with notice of withdrawal.
The rate is
November and December partially estimated.
Operating ex¬ now 2>2 per cent at call, and 3 per cent at three, seven and
penses, 66 20-100 per cent,
fourteen days’ notice. In the discount market the supply of
Business in the corn trade has been almost entirely
suspended. mercantile paper remains very moderate, but the banks and
River communication is entirely suspended, and the
quantity j discount houses refuse to discount bills under the Bank rate, or
of produce arriving at market is very limited. The tone is
per cent. It is regarded, therefore, as very probable that
regarded as firm, but there is not sufficient business doing to the directors of the Bank of England will not be long in raising
test prices. There are no present indications of the frost their rate. The amount of business
they are doing is still lim¬
breaking up; in fact to-day the frost has been more intense ited, notwithstanding that the competition of the open market
than at any former period.
is less keen. The weekly ret urn also exhibits increasing strength,
During the week ended January 15, the sales of home-grown and, for these reasons, an improved movement may be post¬
wheat in the 150 principal markets of England and Wales
poned, more especially as there is no demand for gold for ex¬
amounted to 29,010 quarters, against 32.S71 quarters last
year, port to the United States, while, at the same time, moderate
and 32,141 quarters in 1879 ; while it is computed that
they supplies are being daily received by the Bank of England from
the first and second mortgage bondholders, for the purpose of
electing trustees for tho next twelvemonths.
ger traffic will not
it. is expected that
The loss from passen¬
THE CHRONICLE.
12, 1881.J
February
have
175
been in the whole
kingdom 147.800 quarters, against a
year and 222,200 quarters
in 1879.
Since harvest the sales in the 150 principal markets
have been 855,683 quarters, against 659,806 quarters in 1880
money are as follows :
Per cent. Open market rates—
and 1,188,616 quarters in 1879, the estimate for the whole
Per cent.
4 months’ bank bills..... 3{58'®33±
34
Hank rate....
G months’ bank bills
334&378 kingdom being 3,422,750 quarters, against 2,639,300 quarters
Open-market rates
4 & 0 mouths' trade bills. 3343 1
34
30 ami 00 days’ bills.
1
and 4,754,500 quarters in the two preceding years respectively.
34
3 mouths’ bills.
Without reckoning the supplies furnished ex-granary at the
The following are the rates of interest now allowed by the
commencement of the season, it is estimated that the following
joint-stock banks and discount houses for deposits :
quantities of wheat and Hour have been placed on the British
Percent.
markets since harvest. The visible supply in the United States
24
Joint-stock banks
:
colonial sources. It is very evident that the
supply of money is diminishing somewhat rapidly, and vve must
look for higher rates of discount. The present quotations for
Paris and from
24
Discount houses at call
with 7
do
position of the
of discount, the price of con¬
English wheat, the price of
middling upland cotton of No. 40 mule twist, fair second
quality, and the Bankers Clearing House return comparec
with the three previous years.
Annexed is
statement showing the present
a
Bank of England, the Bank rate
sols, the average quotation for
18S0.
1881.
Circulation, excluding
£
bank post bills
20,013,210
Public deposits/
5,070,004
Other deposits
24.748,053
Governni’t securities. 14,353,300
Other securities
20,551,582
Rea've of notes & coin. 13,673,002
Coin and bullion in
both departments
21,680,242
Proportion of assets
..
to liabilities
Bank rate
1870.
1878.
£
£
£
20.738,100
4,275,047
32.155,785
26,887,105
now
is £13,673,002.
There has been
3,288,603
25,710,470
3,431,505
11,592,300
20,602,000
16,289,000
45,859,900
45,051,30 L
45,436,981
470,599
801,310
910,819
45,389,311
44,189,991
44,526,162
47s. 8d.
40s. lid.
53s. lOd.
of
083,665
Av’ge price of English
42s. 8d.
wheat for the season.
Visible supply in Unit’d
States
bush.28,600,000
31,000,000
17,872,367
12,991,000
23,258,101
30,005,G94
24,868,885
responding period in the three previous seasons
The
:
IMPORTS.
p. c.
The proportion of
reserve
cent, and gold continues to be
settlement
the Stock
1879-90.
1878-79.
1877-78.
29,153,800
7,718,159
0,001,781
1.109,021
1,288,394
9,486,552
5,113,800
21,160,698
5,961,209
5,449,651
12,590,110
25,716,476
0,703,129
5,133,756
876,082
1,759,340
12,086,434
3,288,603
3,431,405
1830-81.
.
3
3 p. c.
0938
45s. 7d.
received both from foreign sources and from the provinces.
The note circulation has also diminished, and the total reserve
•
21,160,098
following return shows the extent of the imports and
exports of grain, &c., into and from the United Kingdom during
the first twenty-two weeks of the season, compared with the cor¬
e.
per
1877-78.
20,153,800
5,113,800
15,717,074
21,644,909
12,840,900
satisfactory.
44*55
Deduct
exports
wheat and Hour
1878-79.
1879-30.
1890-31.
Imports of wheat.cwt.25,293,218
Imports of Hour
5,524,934
Sales of home-grown
produce
14,832,000
17,804,788
18,238,132
10,510,941
,
to liabilities is
given:
30,132,775
3,070,555
25,134,425
10,202,500
2 p. e
Consols
98 5s
OO3#
057gd
Eng. wheat, av. price.
42s. Id.
51s. 10d
39s. Id.
Mid. Upland cotton...
69,0d.
57sd.
Olid
74ed.
No. 40 Mule twist...
84L
lO^sd.
114d.
114d
Clear’g-liouse return. 02,001.000 88,375,000 77,393,000 77,203,000
The Bank return is
is also
quantity in the previous
3,805,020
31,028,470
44-55
3^p.
similar
3
14 days’ notice.
or
a
Wheat
....cwt. 25,293,2 IS
Bailey
0,853,435
5,055,324
1,208,060
Oats
Peas
Beans
Indian
Flour
14,847,881
corn...
5,524,934
798,676
558,357
EXPORTS.
421,824
820,482
883,722
7,585
41,795
05,080
47,294
40,153
71,759
17,821
149,100
15,501
8,300
3,519
138,458
28,057
59,547
12,550
10,296
Wheat
11,74 i
274,306
Barley
Oats
Peas
Beaus
Indian
Flour
corn...
--
416,302
46,850
40,828
22,097
01,076
49,705
Exchange this
week, and some additional demand for money has arisen in
English Market Reports—Per Cable.
consequence.
The extent of the account has, however, been
The daily closing quotations in the markets of London and
much curtailed, and many, if not most of the weaker operators
Liverpool for the past week, as reported by cable, are shown in
have been weeded out, the banks being less willing to lend, or the following summary:
London Money and Stock Market.—The bullion in the Bank
less capable of making advances, to speculators. The stocks
of
England increased £667,000 during the week. During the
are generally in a more healthy slate, and a desire seems to be
same time the specie In the Bank of France decreased 13,590,000
shown to operate with greater caution.
francs in gold and 1,615.000 francs in silver.
There has been very little demand for silver, and the quota¬
Th nr 9.
Fri.
Tues.
Ft at.
Mon.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
tion lias slightly declined. Mexican dollars are also rather
10.
11.
8.
9.
7.
5.
51 4
514
515a
5138
cheaper. There is not much demand for the means of remit¬ Silver, per oz
51518
d 51510
98i lie 99146
0 s7,*
0914* 93‘J,o
087,6
tance to the East, and India Council bills have been disposed of Consols for money
Consols for account
0958
9913,6 031116 0813,6 99l-*i6
9958
8P00
00 —U
84-274
4* 31-10
at Is. 7/£d. the rupee.
The following prices of bullion are Fr’ch rentes (in Paris)fr.S 1*65 81-55
103 4
103 4
1034
1034
U. S. 5s of 1981
1034
10318
from Messrs. Pixley & Abell’s circular:
1144
115 4
1154 x 114 4
U. S. 483s of 1891
1154
llo^
a
on
GOLD
Bar gold,
Bar gold,
fine
contain’g 20 dwts. silver
Spanish doubloons
..
per oz.
per oz.
standard.
standard.
peroz.
per oz.
per oz., none here.
per oz.
South American doubloons
United States gold coin..
German gold coin
1
d.
s.
77 9 ®
77 1043
74 O ®
73 9 @
......
76
3*4
silver, fine..
5
grs.
gold
.
..
peroz.
standard 515*
New York Central
"3
'a)
514
513*
....
....
....
Discount, 3 per cent.
following are the current rates of discount at the principal foreign centres:
Paris
Amsterdam
3
Brussels
34
Genoa
Berlin
4
34
Hamburg
.
Vienna....
In the
Pr. ct.
4
4
34
23t
34
34
34
34
34
4
34
4
Frankfort
Bank
rate.
Pr. ct.
Open
market
markets
of the
St. Petersburg...
Geneva..'.
Madrid, Cadiz &
Barcelona
Lisbon & Oporto.
Copenhagen
New York
Calcutta
Open
market.
Pr. ct.
0
04
4
5
4
5
5
54
34
3 434
536
4
136
'3113
504
139 k}
07
32
1524
151
151
Mon.
Sat.
d.
d.
The
Bank
rale.
Pr. ct.
4958
110
49 4
xl34
07 4
11578
504
133
674
31 4
32 *8
152 4
110
504
136
07 4
31^4
152
Liverpool Breadstuff* and Provisions Markets.—
O'
3
3
Quicksilver, £0 5s. Od.
110
in;
504
1364
stock
Philadelphia^ Reading. 32
®
Mexican dollars.
Chilian dollars..
common
Pennsylvania
@
Bar silver, contain’"
4 alee silver
116
U. S. 4s of 1907
Erie,
Illinois Central
d.
silver.
Bar
d.
s.
s.
8.
9
0
9
9
5
3
12
9
9
9
3
3
0
5
65
0
40
0
6
0
74
Flour (ex. State).100 lb.12
9
“
♦Vlieat, No. 1, wh.
Spring, No. 2...
Winter, West.,n.
“
“
“
Cal. white
Corn.mixed.West.
*'
Pork, West. mess..$1:0)1.65
Bacon, long clear, cwt. .40
Beef, pr. mess,new,$tc.7 4
Lard, prime West, $)cwt.49
Cheese. Am. choice “ 03
0
2
9
49
68
d.
6
2
O
4J
3
3
3
0
0
0
6
0
Tues.
d.
s.
12 6
9 O
2
9
9 2
9 3
5 3
65 0
40 6
74 0
50 0
68 0
Thurs.
Fri.
8.
d.
8.
d.
12 6
12 6
2
9
9
3
)
2
9
2
9
2
9 2
9 2
9 2
3
9 3
5 3
34 5 34
65 0
65 0
0
40 G
40 6
6
74 0
74 0
0
51
0
51 0
6
0
68
0
68 0
Wed.
s.
12
9
9
9
9
5
65
40
74
50
68
d.
6
2
♦
Liverpool Cotton Market.—See special report on cotton.
©anintcvcutliiiiclilXtscclUuieatts
Imports
and
Exports for the Week.—The
imports of last
with those of the preceding week, show
a
decrease in both dry goods and general merchandise.
The total imports were $5,239,194, against $8,521,604 the pre¬
week, compared
Kingdom business has been
greatly interrupted by the severity of the weather. In this ceding week and $6,223,432 two weeks previous. The exports
department of our commerce, as well as in others, increased for the week ended Feb. 8 amounted to $3,302,132, against
transactions may be expected, as business has been kept within $7,121,316 last week and $7,140,034 two weeks previous. The
'ollowing are the imports at New York for the week ending
very narrow limits for some time past. Miller’s stocks are low,
for dry goods) Feb. 3 and for the week ending (for general
but there is no disposition shown to operate except for
the merchandise) Feb. 4:
FOREIGN IMPORTS AT NEW YORK FOR THB WEEK.
supply of actual wants. There seems to be scarcely any specu¬
1878.
1870.
1880.
1881.
lation in the trade, as not much variation is anticipated.
Dry Goods
$3,128,323 $1,728,739
$1,058,119
$3,290,253
5,311,360
5,311,119
3,530,455
During the week ended January 22 the sales of home-grown General mdse... 1,391,503
wheat in the 150 principal markets of England and Wales
Total week
$3,030,613
$3,819,032
$8,100,172
$5,259,191
amounted to 36,9S3 quarters, against 36,903 quarters last year Prev. reported.. 27,554.431
21.Id5.84 4
43,635.200 30,9S 1.572
and 55,791
quarters in 1879; while it Is computed that they Total s’ec Jan. 1. $31,101,IG3 $32,916,162 $52,151,672 .$36,213,766
corn
.....
.
CHRONICLE
THE
176
of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending February 8:
The following is a statement
EXPORTS FROM NEW YORK FOR THE
1878.
1879.
WEEK.
1830.
1881.
$0,949,877
$0,817,258
$5,725,00 L
$8,302,132
30,399,800
27,485,205
29,080,400
35,103,190
Total a’ce Jan. 1. $37,34 ),737
$34,302,463
$35,335,407
$43,405,322
For the week....
Prev. reported..
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
table shows the exports and imports of specie
port of New York for the week ending February 5.
Exports from New York.
Gold.
$
Great Britain
$
$543,350
107,500
4,500
$215,400
112,000
Total
47,168
14,913
24.294
3,601
$014,812
$18,514
Ot the above exports $112,000 were American gold coin.
Of
the imports 50,083 were American gold coin and $18,058 Ameri¬
can silver coin.
The movement from January 1 to date in 1SS1 includes the
export of $115,960 gold and $945,815 silver, and the import
of $4,595,413 gold and $218,674 silver.
The totals at New
York from January 1 to date in the present and several previous
years
have been as follows:
!
Exports.
Year.
Imports.
1881
1880
$1,001.775| $1,814,087
1879
1878
1877
1,403,978
2,801,302
1,884,117
940,032!
1.487.9371
1.817,440
1.883,615!
1,090,717
|
Year.
Imports.
Exports.
$3,208,040
12,253;332
4,657,922
1876
1875
1874
1873
,1872
$438,120
158,191
855,031
147,242
9,80l,9(M
1,775,043
252,520
Statement of the* Comptroller of the Currency, showing by
States the amount of National Bank circulation issued, the
amount of Legal Tender Notes deposited in the United States
Treasury to retire National Bank circulation, from June 20,1874,
to Feb. 1, 1881, and amount remaining on deposit at latter date.
Retire Rational Bank Circula¬
tion since June 20, 1874.
Additional
Circularn
To retire
issued s'ce
June
20, RedempVn Circulut'n
Total
of Notes of under Act
1874.
Liquidat¬ of J’ne 20.' Deposits.
ing Banks 1874.
..
Pennsylvania 11,382,240
232,275
Delaware
1,024,085
1,057,035
228,209
2,320,630 2.385.980
2,522,478 25,081,081 28,204,159
298,303 1,540,137 1,844,440
1,299,226 7,484,021 8,4 83,24 /
701,411
427,001
458,000
845.500
917,309
731,000
2*87,725
907,510
355,185
1,012,585
1,178,380
437,075
90,000
170,100
050,750
2,099,250
220,810
S’th Carolina
.
Georgia
Florida
Alabama....
Mississippi..
Louisiana
Tex jus
Arkjinsas
.
Kentucky
....
047.170
3,070,700
3,315,380
2,572,915
Wisconsin
Iowa
Minnesota....
Kansas
Nebraska
Nevada
Colorado
Utah
Montana
....
2.100.310
810,730
1,564,000
1,017,800
147,000
67,500
36,000
572,400
..
134,900
129.600
3,600
New Mexico.,
90,000
Wyoming
..
Washington
..
Dakota
California
*
....
29,347
43,904
218,781
885,724
1,824,879
153,094
1,036,245
1,140,785
1,178,380
133,590
239,251
725,400j
73,277
200,100
114*5*35
2,750,000
259,140
229,340)
171,000
171,000!
99,338
291
1,285,010
308.100
171,000
3,901,430
707.200
Michigan
302,272
1,929,311
1.812.980
.
....
Tennessee
Missouri
Ohio
Indiana
Illinois
72,000
207,000
128,200
135,000
175.500
29,800
029,807
370,401
998,510
1,587,057
1,284,597
1,792,93 4
465,300
680,800
813,069
420,095
781,721
1,504,933
542,859
3,742,390
3,123,901
6,383,483
6,774,646
2,719,975
1.238,439
1,660,155
1,748,445
2,134,800
17,250
21,800
339,471
913,260
106,949
4.740.900
4.710.901
7,073,080
009,880
852,433
1,893,110
1,091,070
942,380
8,507,580
3,185,275
1,919,299
45,000
233,030
142,883
101,191
149,400
291,483
20,042
196,800
45,000
357,991
15,503
43,233
103,200
148,200
90,000
452,735
614,515
248,850
40,020
1,803
90,000
35,318,981
340,681,016
21,410,698
372,875
4,734,328
national gold banks, not
included in the above,
229,733,304
21,500,353
Kills of other national banks
Fraction ill currency
Gold coin
:
Gold certificates
Gold clearing-house certificates
Silver coin
Silver certificates
121.097,650
18,210,942
307,172
339.921
55,809,513
7.557.200
30,053,000
'
5,937,525
1.454.200
59,100,934
Legal tender notes
47,512,589
7,175,560
48,107,000’
5,320,240
1.165,120
50,040,458
United StJites certificates of deposit for
0,150,000
15,803,890
1,233,008
legiil-teuder notes
Five per cent redemption fund
Due from United States Treasurer
7,655,000
15,921,740
1,182,125
$2,238,393,040 $2,105,780,025
To hil
Liabilities.
Capital stock paid in
Sin plus fund
Other undivided profits
National bank notes outstanding...
$458,090,085
.
121,744,629
47,545,021
317,033,400
.
3,754,989
250,754
outstanding
Dividends unpaid
Individual deposits
6,184,983
.
United States deposits
Deposits of U. S. disbursing officers
Due to other national banks
Due to State bauks and bankers.
Notes and bills rediscounted
Bills payable
Number of banks
1,005,138.071
7,724,638
3,172,473
192,391,510
71,099,880
3,331,411
4,032,170
.
‘This statement is exclusive of one
Washington Territories, from which reports
St. Louis Iron Monntain &
cular has been issued
$457,553,985
120,518,583
46,139,690
317,350,036
3,933,524
270,045
3,452,504
873,537.637
7,649,995
3,534,856
192,032,532
75,536.922
3,178,232
5,031,640
$2,238,398,646 $2,105,786,625
2,092
2,090
bank eaob in Oregon, Montana and
".
have not yet been received.
Southern.—The following cir¬
:
.
20 Nassau Street, N. Y.,
February 5.
Stockholders of the St. Louis Iron Mountain &■ Southern Rail wag Co.:
The greatly-increased traffic on tlie St. Louis Iron Mountain &
Southern Railway has worn the iron rails on that part of the road in the
State of Arkansas to such a degree that it is to the interest of the com¬
pany, as well iis of the public and of the bondholders and stockholders,
to replace at once with steel the remaining part of the road, from St.
Louis to the State line of Texas.
The work of ballasting, re-arrange¬
ment of track and laying with steel, has been going on during the year
1880. consuming all the net receipts over the fixed interest charges.
With the view of consolidating the entire mortgage, income and all
other debts of tlie company, at a lower rate of interest, and to provide
“
“
improvements, tlie board of directors have authorized the issue of
general consolidated five per cent bonds, fifty years to run, into which
to fund the income and divisional mortgage bonds, as also to pay for
the above-named improvements of the road, including the laying of
about 200 miles with steel.
For which purpose an issue of bonds
amounting to $2,000,000, in addition to the present bonded debt of tlie
company, is necessary.
Bonded debt of all kinds at tlie time of tlie resolution of the
for
$30,080,000
board
2,000,000
Proposed increase
$32,086,000
Total
“
When this consolidation of debt shall
have been effected, tlie interest
charges on the entire debt of the company will be only $1,604,300, as
against tlie present fixed and accumulative income interest charges of
$2,066,089.
“
The directors have ordered the construction of several branches
which have been much needed, and have the conviction that it will be
wise in due time to acquire some adjoining roads. For this purpose the
authority is asked to increase the capital stock
000,000.
It will be needful only to state that
issued, cannot be sold at less than par.
“
of the company to $35,-
such additional stock, when
Henry G.
Marquand,
Acting President.”
“
777.600
3,313,675
Legal tenders
of
Exchanges for Clearing House
“
90,000
382,000,000
Dec. 31, 1880."
Resources.
Oct. 1,1880.
Loans and discounts
$1,065,749,656 $1,037,001,441
Overdrafts
3,915,826
4,103,480
United States bonds to secure circulation
357,739,350
357,592,550
United States bonds to secure deposits..
14,239,300
14,777,000
United States bonds on hjmd
a
28.843,400
21,998,900
Other stocks, bonds and mortgages
48,445,647
48,803.150
131,502,778
Due from approved reserve agents
120,058,478
Due from other national banks
69,061,351
03,023,790
Due from State banks and baukers
15,881,197
17,034,573.
48,045,832
Real estate, furniture and fixtures
47,774,229
Current expenses and taxes paid
4.427.200
6,386,182
Premiums paid
3,i 86,837
3,488,470
12.720,601
14,711,450
Checks and other cash items
623,050
2,473,824
2,168,540
1,017,271
278,080
235,550
Circulation
6,042,230
’
100,6*00 i,*046,380
*
Total
$
457.000
1,235,000
129.100
520,350
Ti'easurer
at date.
301,412
30,400
321,936
1,607,907
Dist. Columbia
N’rtli Carolina
with U. S.
$
Virginia
West Virginia.
on
deposit
1,030,700
128,797
1,492,037
8,020,400
1.334.310
..
ders
$
317,000
72,997
283,497
234,800
32,350
()j),3t)0
..
Maryland
Legal Ten¬
719,700
55,800
1,208,540
8,385,600
$
$
Maine
1,401,180
N. Hampshire
637,865
Vermont
1,799,000
Massachusetts 21,220,410
Rhode Island.
1,894.920
Connecticut
2,810,200
New York
21,234,085
New Jersey...
1,735,005
$382,000,000
retiring circulation under Act of June 20, 1871
deposit during the last month
Increase in deposit since February 1, 1880
Amount on hand
State bank notes
Legal-Tender Xotes Deposited to
States and
Territories.
Legal Tender Notes—
Amount outstanding June 20, 1874
Amount outstanding January 14, 1875
Amount retired under act of Jan. 14,1875, to May 31, ’78
Amount outstanding on and since May 31, 1878.
Amount on deposit with the U. S. Treasurer to redeem
notes of insolvent and liquidating banks, and banks
ber 1, 188Q, and December 31, 1880.
France
Germanv
West Indies
Mexico
South America
All other countries..
343,415,438
195,495
1,110,64R
1 lie following is an abstract of reports made to tlie Comp¬
troller of tlie Currency, showing tlie condition of tlie national
banks of the United States, at the close of business on Octo¬
Silver.
Gold.
$215,400
$322,555,965-
$1,135,260.
Imports at New York.
Silver.
.
Amount outstanding May 31, 1878
Amount outstanding at date *
Increase during the last month
Increase since February 1, 1880
Increase in
The following
at the
LVOL. XXXIl,
Proxies have been enclosed to the stockholders—with a
request of signature—one being for the annual election of
directors and the other for the special meeting of stockholders
Deposited prior to June 20,1874, and remaining at that date,
to be held in St. Louis on Tuesday, the first day of March.
t Total deposits, $110,131,047.
Statement of the Comptroller of the Currency on Feb. 1,
St. Louis Jacksonville & Chicago.—The stock and bonds of
1881, showing the amounts of National Bank Notes and of Legal this railroad company have been placed on the New York Stock
Tender Notes outstanding at the dates of the passage of the Exchange list as follows : Preferred stock, $1,034,000 ; common
Acts of June 20, 1874, January 14, 1875, and May 31, 1878, stock, $1,293,000 ; first mortgage bonds, guaranteed, $564,000
together with the amounts outstanding at date, and the second mortgage bonds, guaranteed, $188,000. The main line of
increase or decrease:
the
company extends from Bloomington to Godfrey, Illinois, 150
miles, and is leased in perpetuity to the Chicago & Alton Rail¬
Rational Bank Notes—
road Company on terms that virtually guarantee the interest
Amount outstanding June 20,1874
$349,894,182
on all the bonds issued by the St. Louis Jacksonville & Chicago
Amount outstanding January 14, 1875
351,861,450
Totals
*
93,983,055 18,831,654 87,400.518
t
121,440,698
February
THE
12, 1S8LJ
CHRONICLE.
Railroad Company. Tho bonds on this line are as follows
First mortgage bonds, $2,365,000; second mortgage bonds,
$360,000. The first mortgage bonds of the company are
already on the regular list. The second mortgage bonds were
issued under a deed of trust which authorizes an issue of $5,000
mile of completed road, but only $360,000 bonds were dis
posed of when the road was leased to the Chicago & Alton
Railroad Company, aud that is the amount now outstanding on
the main line between Bloomington and Godfrey* The Chicago
& Alton Kailroad Company agreed to guarantee the principal
and interest of the bonds of the St. Louis Jacksonville & Chi¬
cago Kailroad Company, issued to the full extent, and author¬
ized under the respective first and second mortgages of the latter
IV 7
T'hc JBaukcrs’ 05u2ctlc.
DIVIDENDS.
The following dividends have recently been announced:
per
BS t-fM1
company.
The bonds issued on this
,
road are as follows : first mortgage
(564) bonds of $1,000 each, of the same tenor and date,
March 16/1864, payable April 1, 1894, as those issued on the
main line of the St. Louis Jacksonville & Chicago Railroad
Company, with this difference—that these bonds have an
endorsement of the Chicago & Alton Railroad Company, signed
by the President and Secretary, guaranteeing payment of prin¬
on the endorsement
The second mortgage (188)
bonds of $1,000 each issued on this road are of the same tenor
and date as the second mortgage bonds on the main line, pre¬
viously described, with this difference—that they are guaran¬
cipal and interest.
the words
There is also stamped
“Not convertible.”
Name
Per
Cent.
of Company.
When
Boohs Closed.
Payable.
(Days inclusive.)
Railroads :
Cleveland A Pitts, guar. (quar.)..
Flint & Pere Marquette pref
3
North
1^
March 1 Feb. 11 to March 1.
March —
Feb.
25 Feb. 11 to Feb. 20.
5
On dem.
1^
Pennsylvania (quar.)
Insurances
New York Fire
Miscellaneous
Delaware Division Canal
:
Feb.
$1
15 Feb. 10 to Feb.
FEBRUARY
FRIDAY,
11, 1881-5
19
P. 1*1.
The Money Market and Financial Situation.—The money
market remains easy and the financial situation remains strong.
The last bank statement showed a considerable decrease in the
surplus
reserves,
but this has had
appreciable effect on the
be no apprehension
months. The bank
no
money or stock markets, and there seems to
of any stringency in money in the next few
statements, however, will be watched with much interest for the
by similar endorsements of the Chicago & Alton Railroad next six weeks as it is not impossible that the large demand for
Company, and stamped “ Not convertible,” in the same manner
as the $564,000 first mortgage bonds.
The preferred and com¬ money in new enterprises may cause a drain on the financial
centres which will tighten up our loan market by the first of
mon stocks of the St. Louis Jacksonville & Chicago Railroad
Company are transferable at the office of Jesup, Paton & Co., April.
and are registered at the office of the United States Trust Com¬
At the Stock Exchanges there has been no change in tone, and
pany. The bonds also can be registered at the office of the
prices are still higher on many of those <vhich were formerly called
transfer agents.
The gross earnings of the main line of the St. Louis Jackson¬
low-priced ” stocks, but which can no longer be so designated
ville & Chicago Railroad, under the lease for the year 1879, with
any propriety. It may be that the prices of sound railroad
were $742,798, which were sufficient to pay interest on bonds, 7
bonds, and dividend-paying stocks will be fairly maintained at
per cent on the preferred stock and 2 per cent on the common
the advance which has been established, in consequence of the
stock.
difficulty of obtaining good investments, and the nearer equali¬
—Law of the Stock Exchange is the title of a handy vol¬
zation of rates of interest on capital in New York and London
ume of about 200 pages, by Francis A. Lewis, Jr., of the Phila¬
delphia Bar. It is intended as a popular treatise on the law But the present prices of railroad stocks of unfinished roads*
relating to Stock Exchange transactions, as it applies to the and of some other roads which have never yet earned their
daily business relations among brokers and between brokers interest, are without precedent in the past history of the stock
and their customers. “Usages,” “ Negotiability of Stock Cer¬
market. There are not a few of these stocks now selling above
tificates,” “Stock Pledged as Collateral,” ana other titles of
this Sort, indicate the practical character of the book. Messrs. 40, which in ordinary times would have been considered high at
Baker, Voorhis & Co., law publishers, 66 Nassau Street, will 20, on a fair estimate of the condition and prospects of their
send it post-paid on receipt of $2.
respective companies.
In the money market there is an abundant supply of funds,
—Attention is called to the card of Mr. F. E. Trowbridge
banker and broker, which will be found in this issue of the but call loans have a wider range than usual, on account of the
Chronicle.
Mr. Trowbridge is a member of the New York
widely different characters of the collaterals. From Government
Stock Exchange, and is well known as an active and responsible
bonds to the lowest class of speculative stocks, 3@6 per cent is
business man. He executes orders at the London, San Francis¬
the range of quotations. Prime commercial paper of 60 days to
co, Boston, Philadelphia and Baltimore Exchanges, as well as in
New Yrork.
four months sells at 5 to 6 per cent.
The Bank of England statement on Thursday showed a gain
—The regular monthly dividend of 25 cents per share (for
of £667,000 specie for the week, and the reserve was 45
January) has been declared by the Deadwood-Terra Mining
Company, of Dakota, payable by Wells, Fargo & Co., on the 21st. per cent of the liabilities, against 44^2 per cent last week; the
Transfers close on the 15th.
discount rate remains at 3/£per cent. The Bank of France
—The Ontario Silver Mining Company has declared its regular showed a decrease of 13,590,000 francs in gold and 1,615,000 francs
monthly dividend (for January), which is payable on the 15th. in silver.
inst., at Wells, Fargo & Co.’s.
The last statement of the New York City Clearing House banks
issued February 5, showed a decrease of $1,097,025 in the sur¬
BANKING AND FINANCIAL.
plus above legal reserve, the total surplus being $6,826,900,
against $7,923,925 the previous week.
FIS ML & HATCH,
The following table shows the changes from the previous week
BANKERS,
and a comparison with the two preceding years:
teed
“
DEALERS
AND
IN
GOVERNMENT
BONDS,
1881.
Feb. 5.
And other desirable Investment Securities,
No. 5 Nassau Street, New York.
Buy and sell all issues of Government Bonds, in large or small amounts,
prices, and will bo pleased to furnish information in
reference to all matters connected with investments in Government
Bonds.
Wo
,
are
prepared to give information in regard to first-class Railway
Securities and to
execute
orders for the
oa
commission, at the
Legal tenders.
Legal reserve.
$76,774,300 Ine.$ 1,146.225
Roceive accounts of Banks, Bankers, Meroliauts and others, and allow
daily balances; and for those keeping accounts with us we
collect U. S. coupons and registered interest, and other coupons, divi¬
dends, &c., aud credit without charge.
We
>ans
and dis.
Specie
Circulation...
Net deposits
.
$316,092,900
Reserve held.
83,601,200 Inc.
49,200
$66,101,050
69,432,500
$54,846,825
68,984,700
Surplus
$6,826,900 Dec.$l,097,025
$3,331,450
$14,137,875
United States Bonds.—Government bonds have been strong
moderate transactions at the Board. There is much more
on
Stock Exchange or in the open market.
on
give special attention to orders from Banks, Bankers, Institu¬
tions and investors out of the city, by Mall or Telegraph, to buy or
8311 Government Bonds, State and Railroad Bonds, Bank
funding bill at this session of
Congress since the Senate amendments were made. Not th«
least important of those amendments was the increase of the
commission to be allowed for negotiating the bonds.
Closing prices of securities in London for three weeks past and
the range since January 1, 1881, were as follows!
confidence
now
in the passage
ernment
Edition of “ Memoranda Concerning Gov¬
Bonds,” copies of which
can
be had on application.
FISK & HATCH.
of
a
I
Stocks, Railroad Stocks, and other securities.
We have issued the Eighth
1879.
Feb. 8.
same.
Buy aud sell all marketable Stocks and Bonds
interest
1880.
Feb. 7.
Iuc .$5,410,700 $290,381,600 $242,290,200
52,994,600
17,849,300
67.603,700 Inc. 1,339,600
19,427,100
32,600
21,683,200
18.363,300 Inc.
307,097,200 Iuc. 4,584,900 264,404,200 219,387,300
51,135,400
16,437,900
15,997,500 Dec. 1,290,400
L
at current market
Differ'nces .fr'tn,
previous tcee/c. !
U. 8. 5s Of 1981....
1 U. S. 4*«s of 1891..
U.8. 4s of 1907....
Jan.
28.
Feb.
4.
103*2
115*2
103*8
115*4
117
116
Range since Jan. 1, 1881.
Lowest.
x
Highest.
103*4 103*8 Jan. 20 104*a Jan. 3
114^:114*2 Fel». 10.116
Jan. 14
116 '11578 Feb. 9i 117*4 Jan. \7
The closing prices at the New
Interest
Periods.
reg. J. & J
coup. J. & J.
-.reg. Q.-Feb.
coup. Q.-Feb.
reg. Q.-Mar.
4*8, 1891
coup. Q—Mar.
4s, 1907
reg. Q.-Jau.
48, 1907
coup. Q.-Jan.
6s, cur’ey* 1893..reg. r. & J.
6s, cur’cy, 1896..reg. J. <fc J.
6s, cur’cy, T897..reg. J. it J.
6e, cur’cy, 1898..reg. J. & J.
6b, cur’cy, 1899..reg. J. <t J.
6s, 1881
6s, 1881
58,1881
5s, 1881
4*8, 1891
*
This is the
CHRONICLE.
THE
17S
York Board have been as follows:
Feb.
8.
Feb.
7.
Fb.
5.
+
*101 *8 *101 5s 10158
*
*1015* *10158 101 5g
100% L005a *10050
*10058 ♦1005s *10050
*11()78 11078 *11O70
+
112*
*12!)
*
5 29
*129
*10158
r10l5g
*10058
100%;
Feb.
Feb.
11.
10.
*10150 *10158
*10150 *101^
*10050 *10058
*10050 *10050
*111
nils 11 1 x8
'11210 *112 ig *11238
1 12^8 *11230 1125s 112 34
1P-7S
1123,, *11230 11250 *11250 113
*112
11*238
112*
*127
*128
Feb.
9.
*112
+
+125
*126
127
*12,8
+
129
+
*125
126
+
*127
*128
+129
price bid at the morning board;
no
*126
*127
+
128
*129
*129
*126
*127
*128
*128
*128
*12.)
*126
*126
*126
*126
Lowest.
68,1881
cp.
58, 1881
cp.
4*2S, 189i..cp.
4a, 1907
cp.
Gs.cur’ncy.reg.
Highest.
Amount Feb. 1. 1881.
Registered. |
Coupon.
101 io Jan.
Jan. 31 $155,882,850
$15,673,150
10050 Feb.
Jan. 28
315,139,050
177,112,800
536,181,200
64,023,512
154,512,000
3 101 34
4 lOI^g
112
Jan.
3 11250
3 IIJSq
1123s Jan.
132
Jau. 25 134^
Jail. 14
jan. 13
Jau. 13
72,887,200
202,299,350
State and Railroad Bonds.—The Southern State bonds
are
rule, and purchases are made with great confidence.
higher, on the talk of a practical compromise
being effected by which a new bond will be given and the suits
against the railroads discontinued. North Carolina special tax
bonds are freely dealt in on speculative account. Virginias have
been strengthened by the Atlantic Mississippi & Ohio Railroad
sale, under which it is reported the State’s interest will be to
scone extent regarded by the purchasers.
Railroad bonds have shown activity in many of the speculative
classes; about $2,000,000 of Erie second consols changed hands;
$1,250,000 Texas & Pacific land grant incomes; about $1,000,000
strong, as a
Tennessees
are
of the M. K. & T., first and seconds; about $700,000 of the Ohio
Central incomes and Lake Erie & Western incomes. To-day
there were large sales of Texas & Pacific Rio Grande Division
bonds at prices running up to 100.
The following securities were sold at the Exchange Sales¬
room:
Shares.
G Warren KK., leased to D.
L. <fc W
121*2
10 United States Trust Co...401
25 Mercantile Trust Co
152
20 Central Trust Co
169
38 Bank of America
144*2
20 N. Y. Equitable Ins
159
10 Knickerbocker Fire Ins.. 55
100 Bro.-idway it Ttli Av. HR.125
50 Central Park North «&
East River RR
104*2
10 N. Y. Mut. Gaslight Co.. 04
10 Union Ferry Co
153
180 Brooklyn City RR
170
20Lafayette Ins
Ill
30 Citizens' Ins
170
Shares.
10 Guardian Fire Ins
70
20 Manhattan Gaslight Co..180
9(5 Brooklyn Gaslight Co
110
3 Metrop. Gaslight Co. of
N. Y
135*2
25 Toledo Canada South. <t
Detroit RR
48
Hands.
$G0 Metrop. Gaslight Co. of
N. Y. reg. certificate
G2 15 Ohio & Miss. RR.
101%
prof.
scrip
50
100,000 Adirondack RR. 1st
mort. 7 p. c. bonds, due
1902
12 <714*2
Railroad and Miscellaneous Stocks.—The stock market,
after
Monday.
Saturday.
Feb. 5.
and the amount of
outstanding Feb. 1, 1881, were as follows:
Range since Jan. 1, 1881.
approving the contract entered into on the 19th of January and
Fie other approving the action of .stockholders at the meet¬
ing held on the 3d insfc. The stockholders of the Atlantic & Pacific
litdd their meeting on the same day, and ratified the consolida¬
tion. The stockholders of the American Union met on Monday,
Feb. 7, and unanimously ratified the scheme. At a meeting of di¬
rectors of the Wastern Union Telegraph Company, Mr. Hamilton
McK. Twombly resigned as a director ^nd Vice-President, and
Chester W. Chapin resigned as a director. Jay Gould was elected
a director in place of David. Jones, deceased, and takes Mr. Twoinbly’s place on the executive committee. Russell Sage was
elected in place of Mr. Chapin, and Gen. Eckert was elected
director, Vice-President and General Manager of the company.
The daily highest and lowest prices have been as follows:
safe was made.
The range in prices since Jan. 1, 1SS1,
each class of bonds
irregularity and feverishness during the week, closes
strong, with many stocks several points higher than last Friday.
There is nothing specially new in matteis affecting railroad
stocks, and the earnings for January are set forth on another
page at considerable length. Nearly all of the new companies,
and particularly those consolidated roads under the Gould man¬
agement, are increasing their bonded debt very heavily in the
shape of 44 blanket ” or consolidated mortgages. These mort¬
gages do not represent new obligations to their full amount, as a
part of the issue is reserved to take up prior debts, but there is a
large surplus to be used as needed for “ improvements,” &c.
Among the railroad companies which have thus created, or pro¬
pose to create, mortgages of a very large amount are Kansas
Pacific, Missouri Pacific, Wabash, Missouri Kansas & Texas, St.
Louis & Iron Mountain, Louisville & Nashville, and, finally,
Reading, with its modest issue of $150,000,000.
Am. Dist. Tel.
Amer.Un.Tel.
79
62
79
83
so'4
Canada South.
Cent, of N. J..
Cent. Pacific..
82'4
91!* 92>g
Ches. AOhio..
Do 1st prf.
22>4 23} 4
35 Vi 34%
Do 2d prf..
Chic. A Alton.
2")
62*
80 '
85%
91* 92*
87* 88
83
«7%
?.
Feb.
24
34
25
25
149l4 *143
24%
Wedncsd.
Tuesday,
Feb.
Feb.
8.
9.
71
8i%
92*
85% 84*
93% 01% 93*
88% 87% 88
88
24
69
79
24
+34
8ft
Friday,
Feb. 10.
Feb. 11.
69
65
79
80%
Thursiiay,
71 *
78* 80
82* 84*
93% 4 6%
74
80
85
83
24
34* 34
25* 25* *24%
149
150
149%
liaH
173
Chic.Bur.& Q. 171
173*
173% 174
174'4 172* 17 f
113
113
113
11
115%
115%
113% 113%
Ohic.M.ASt.P. 111%
3%
♦124 126
*123 125
124
Do
pref.
Chic. AN. VV.. 127 * 1284 127% 129% 129% 130* 128% 129% 128%
143
Do
143*
pref. 141 141% 141* 142% 143* 145
136
13o
133
136
135% 135 135
135*
C.R.I.AP.new 135
5t
54
54
53
53*
53* 53* 54
Ch.St.L.AN.O.
%
W 53%
47* 47* 48
47% 47% 47*
Ch.St.P.M.AO 40
47»4 46
Do
pref. 103& 105 104* 105>* 104% 105* 104* 105* 105
80
*86*
Clev.C.C.Al. 85
85* 85-% +85*
85* 86
25%
Col.Chio.ALC. 24% 25% 25* 25% 25* 26% 25* 26
106
107*
Del. AH.Canal 105
106*
107
106%
10(i% 105% 106%
122% 123% 122% 123* 123
Del.Lack.AW. 121M 122 >4 122* 123
96% 97% 96%
DenverA R.G. 96% 97* 90% 97* 96%
Han. A St. Jo.. 51% 52Va 51% 52% 52
51% 53
51*
104
Do
104% 104
pref. 104% 105* 104* 105* 104% 105%
70*
?0vt,
Hous.ATex.C.
70%
72*
70*
Illinois Cent.. 130 4 132
132* 134% 134 134* !S3% 133% 184
65
66
Int.A Gt.Nor..
63% 63% 64
59
Lake ErieAW. 55
57* 58* 57* 59* 56* 58% 56*
128
128
Lake Shore.... 128% 127% 127
129%
129* 128* 129%
86 '
Louisv.ANash 85
85* 85* 85% 84* 85* 85*
43
42
Manhattan.... 41
42% 42
42* 41% 42% 42
12
12
Mar.AC.lst pf. *1% 12* 12* 12* 12
7"
7
7
7%
Do
2d nrf.
7*
120
lift
Met. Elevated
120% 120*
117%
119% 119% 120%
Mich.Central.
119% L18* 120* 119 120% 118% 119% 117%
22%
22* 23
2214 22* 22* 22* 23
MohileAOhio. 22
46
46% 46%
Mo.Kans. AT. 45* 46* 45% 40% 46% 47
122
*121
122
121
Mor.A Essex.. 121% 121% 121
121* 121*
72
70
Nash.Ch.AStL 72
72* 72
72* 72* 74
73*
!46
N.V.C. A H. R. 145* 147
147% 147% 148% 147% 148% 146%
N.Y. Elevated 12344 128% f127 128
127* 123% 127% 128 127%
48*
N.Y.L.E. A W. 47% 48% 47% 48% 48% 49* 48% 49
90
88
Do
88% 89% 88
pref. 86* 87%
N.Y.Ont. A W. 4'W 41% 41% 41% 40* 41% 40% 41% 40%
40 >4 40
42
Northern Pac. 38
41* 42% 41* 42% 40%
69
J59
Do
70% 69% 70% 69%
pref. 66% 67% 63
33% 34% 33*
Ohio Central.. 30* 32%' 31% 33% 33% 35
Ohio A Miss... 40% 41% 41 Vi 42
42* 43% 43% 43% 43%
104
105
105
:04
Do
103* 103*
pref. *103
54“
Pacific Mail... 50% 51% 51% 53% 52* 52% 52% £5
34
\84
25* +25
150* 150
26
150
174
....
w*
si*
*
Panama
Phil. A Read’g
St.L.A.A T.ll.
62* (ii“
pref. 131*
St.L.I.M. aSo. 58%
3t.L.A S.Fran. 45% 45%
Do
64
64
Do
pref.
Do 1st prf.
Tex.A Pacific.
Union Pacific.
96*
96*
52%
63 Vi
96
5 •%
54*
114* 110% 114%
43% 47*
Wub.St.L.A P. 47
Do
pref. 86* 87%l 80*
West. Un.Tel. 113% 116%: 114%
♦
These
+ Sales
are
48
132
60%
61*
96*
56*
117
48*
87%
115%
....
60%
45*
65
96*
55%
116%
47%
87*
115*
date,
174
115
were as
strength in prices. Central of New Jersey has been helped by the
reports of a through trunk line to be established, which is to use
this road as the Eastern connection, and also by the reports that
Baltimore & Ohio will form a new line to New York, through
Delaware and over Jersey Central. The Chesapeake & Ohio
stocks and bonds are very strong, and seem to meet with good
purchasers. Erie gains little in the market, and seems to be a
stock without particular friends, although the report of earnings
for December and three months of the fiscal year is exceptionally
good.
The called meeting of stockholders of the Western Union was
held on Saturday, Feb. 5. Two resolutions were voted upon, one
131%
144
135%.
6-J*.
48*
105
105% 107*
87% 86% 87*
25% 26*
26
109% 109 110*
124% 124*125
98% 03* 99*
54
52% 53
103* 105* 106
74
75
71
133% + 135% 138
06
68% 67
57% 56% 57%
129% 129* 130%
87* 90
89
42*
42% 42
12%
12* 12
7*
7*
120
120%
120*
119 118% 120
25
23%
47* *0% 47%
122% *122 123
74*
73* 74
147* 147% 148%
128
12-% 128%
48% 4S% 49%
88
89* 89%
4 2% 41% 43
41% 41
41*
70* 60% 70*
44%
34
44
50%
53“ 57%
34*
34%
45%
♦.... 223
62% 63*
.
48
132
47
131
60% .61*
48
67*
97
49
69
54*
97*
55%
48*
48%
120* 123
88* 80%
118* 119*
ending Thursday,
from Jan. 1, 1881,
of
Range for
1880.
Range since Jan. 1 1881.
gear
Week,
Canada Southern....
Central of N. J
Chicago Si Alton
Chic. Rifll. & Quincy
Chic. Mil. & St.P....
Do
do pref.
Chic. Si Nortliw
Do *
do pref.
Chic. Rock I. Si Pac...
M
& O
prof
Col. Cliie.it Ind.Cent.
Del. & Hudson Cana!
Del. Lack. & WeRtern
Hannibal & St. Jo...
Do
do pref.
Illinois Central
Rake Erie <fc Western
Lake Shore
Louisville & Nasliv..
Manhattan
Michigan Central....
Missouri Kan. &Tex.
N.Y. Cent.it Hud.Riv
N.Y. LakeE.it West.
do pref.
Do
Northern Pacific
....
Do
pref.
Ohio & Mississippi..
Pacific Mail
Phila. & Reading
St.L.Iron Mt.&South.
St. L.& San Francisco
Do
Do
126
129% 129%
142%
136“ 135%
56% 57*
48
48
follows:
Shares.
St r
Do
126
124
also made ex-div. at 133*^134%.
Sales
Chic
36%
26%
x 145* 46*
:;3* 173%
114% lie*
the prices bid and asked: no sale, was made at the Board.
were
Total sales of leading stocks for the week
and the range in prices for the year 1880 and
to
81
26
25*
149%
132
132
72*
80
34%
34
47*
46% 47*
132
228
62
90
61% 62*
47* 47* 47%
132* 130* 1‘32
61* 59% 60% 59% 60%
45* 45* 45* 45* 47*
65
65% 65% 65* 07*
90* 96* 96* 96% 96%
54
55
55%
53* 54%
117% 117 117% 117* 120V
48* 47* 4m
47% 48*
87* 88%
88% 87* 88
116%'U5% 116* 115% US
62
61* 62
48
48
1S4U 132
59% 59
48
*
230
...228
09*
84% 85%.
96* 98*
90
90*
v4* 25%
23% 23%
some
The Vanderbilt stocks, Union Pacific, Northwest, St. Paul, Illi¬
nois Central, and the coal stocks, are all conspicuous to-day for
1
IVOL. XXXIt
pref.
1st pref.
Union Pacific
Wab. St. L. & Pacific
do pref.
Do
Western Union Tel..
Lowest.
4
90
Jan.
69*2 Jan.
35,500
4
821e Jan.
98*4 Feb.
93,332
Jan.
1,406 14514 Feb. 11 156
10,041 16738 Jan. 17 182*2 Jan.
4 124*4 Jail.
122,150 109*4 Jan.
4 132
Jan.
Jan.
200 122
3 136
Jan.
102,015 12314 Jail.
3 147*2 0ail.
4,960 13734 Feb.
Jan.
2,960 1341*2 Jan. 31 142
4
Jan.
51
45
Jail.
8,370
4 109*2 Jan.
Jau.
95
8,935
4
16.930
19% Jail.
2778 Jan.
46,572
8958 Jan. 4 110*4 Feb.
4 125*8 Jan.
Jan.
134,150 107
4
44% Jau.
57*4 Jan.
17,585
Jan.
4 110
Jail.
12,315 100
4 138
Jan.
Feb.
14,265 124
4
58.430
59*2 Feb.
38*2 Jan.
3 135Jau.
142,210 1261s Feb.
7 94*2 Jan.
84*2 Feb.
10,550
32 *4 Jan. 18
443* Feb.
36,775
3 126*2 Jan.
32,097 117 34 Feb.
3 483* Feb.
40 *g Jan.
41.550
Jan.
5 155
57,093 145*4 Feb.
4
136,230
4730 Jan.
5278 Jan.
5 95
Jan.
3,900
86*2 Feb.
93,128
32% Jan. 13 425s Feb.
6418 Jan. 25 70% Feb.
63,972
4
45*8 Feb.
33,850
36*2 Jan.
4
57 7« Feb.
115.395
4534 Jan.
38,880
51*4 Jan. 3 70 Jau.
4
30,149
62*2 Jan.
52*8 Jan.
3
51
Jan.
44*2 Jan.
4,350
61
3,200
96
1,713
88,031 107*2
27.050
425g
34,935
827e
144.240
Jan.
Feb.
Jan.
Jun.
Jan.
80*2 Jan.
Railroad Earnings.—The latest
Low.
Highest.
14
40
45
31
5
99*2
7 113
20 60*2
17
99
19
87*s
17 104
20 100*2
22
24
31
9L>
11
60
24
0S*2
20 2>76
10 63*2
11
99*2
8
20*4
20
95
6
77
2 21
20 75
.1
a.
High.
813©
90*4
159*2
183*2
114%
124*8
L30
146*2
204
25*8.
9234
110*4
507a
105
l127*
423*
1395s
174
57*3
130*8
28*8 49*4
3 122
15
30
10 47
8 20
8 393s
11
23
11
27*2
14
13*2
17
34*2
11
25*4
4 71
33
Jan. 11
4 102
Jan. 28 60
3 123*2 Jau. 19 80
4
5038 Jan. 29 26*2
4
94
Jau. 17
51*4
3 120*2 Jan. 29 77*2
15538
51*8
93*2
36
67*2
44*2
62
7238
66
48
65
100
11334
48
8830
116*3
railroad earnings and the
totals from Jan. 1 to latest dates are given below. The state¬
ment includes the gross earnings of all railroads from which
February
obtained. The columns under the heading
date” furnish the gross earnings from Jan. 1
and including, the period mentioned in the second column.
returns can be
«
Jan. 1 to latest
to,
/—Latest earnings
reported—* <—Jan. 1 to latest dale.
$90,000
$151,000
$90,000
72,471
55,533
Bur.C.Iiap.it No. .4th wk .]au
7,192
10,07 L
Cairo ifc St. Louis.4th wk Jan
Central Pacific.. .January... 1,498,000 1,200,614
15.5,511
Chicago & Alton .4th wk Jan 130,747
34.670
22,054
Chic. <fc East. Ill..4th wk Jan
180,867
Chic. Mil. *fc St. P.lstwkFcb. 177,000
Chic. & Northw..January... 1,222,250 1,154,632
40,639
41.973
Chic. St. P. Min & 0.4t li wk Jan
28.523
29,385
8t.Paul& S.City.4th wk Jan
12,246
15,226
Chic, it W. Mich..3d wk Jan.
155.697
171,466
Cin. Iiul.St. L.it C.January...
10,741
11,215
Cin. Sami, it Clev.3d wk Jan.
22,552
22,634
Cin. it Sprint;!. ,.4tli wk Jan
107,8)3
95,579
Clev. Col.Cin.<t I.4thwk Jan
7,791
7,256
Clev. Mr. V. it Del.3d wk Jan.
76.103
26,246
Denver it Rio Gr 1st wk Feb.
6,072
5.828
DesM.&Ft.Dodge.3d wk Jan.
79,922
79,062
Dubuque.it S.City. January...
37,870
37,431
East Tenn.V.it G.4th wk Jan
38,620
40,119
Flint it Pere Mar.4th wk Jan
27,421
34,657
Gal.Har. t Sail A.2d wk Jan.
200.027
Grand Trunk. Wk.end. Jan. 29 189,L14
79,459
86,660
Gr’t Western.Wk.end.Jan. 2S
58,188
49,130
Hannibal it St. Jo. 4 th wk Jan
87,558
Houst.it Texas C.4th wk Jan 107,362
467,449
IllinoisCen. (Ill.).January... 477,799
127,184
Do
(Iowa). January... 122.673
28,225
26,798
Indiana Bl. & W..4th wk Jan
40,279
Ind. Dec. & Sp...January...
54.985
59.163
Int. & Gt. North..4th wk Jan
18.403
27,063
K. C. Ft. S.&Gulf.2d wk Jan.
11,394
25.343
Lake Erie & West.3d wk Jan.
49,©00
55,800
Little Rk. it Ft. S.January.
222,20!)
Louisv. & Nasliv.4tli wk Jail 274,758
23,263
27,000
Memp. <t Chari... 1st wk Feb.
4,115
1,503
Memp. Pad. & No.3d wk Jan.
8,458
12,d96
Minn. & St. Louis.3d wk Jan.
81,026
72,459
Mo. Kan.&Texas.3d wk Jan.
Mobile & Ohio
January... 218.243 250,116
37,899
42,505
N. Y. & N. Engl’d.3d wk Jan.
19,315
23,216
Northern Pacific .1st wk Feb.
9,547
8,035
Pad.&Elizabetlit.3dwk Jan.
4,619
13,723
Peoria Dec. & Ev.4th wk Jan
35,688
42,548
St.L.Alt.&T.II. ..4th wk Jan
18,484
21,660
Do
(brclis).4th wk Jan
131,852
8t.L. IronMt.& S.4th wk Jan 149,039
46,300
50,900
Bt.L. it San Fran. 1st wk Feb.
29,300
34,500
Sti.P.Minn.<tMan.l8t wk Feb.
4,487
4,560
Scioto Valley
2dwk Jan.
253,190
Wal*. St. L. & Pac.4th wk Jan 239,038
167,750
33,637
184,317
22,822
1,200,614
$151,000
Ala.Gt. Southern. December..
1*493,000
524,035
72,466
9 45,163
487,890
125,455
1,168.000
1,222,250
128,555
1,154,632
111,731
88,422
44,091
36,603
171,466
155,697
36.398
31,319
74,533
299,903
21,739
383.579
18,32.8
79,062
69,899
105,405
312.603
21
,S67
151,139
13,821
79,922
108,517
111,065
135,378
c 9,321
759,528
359,478
153,067
359,706
477,799
122,673
90,283
109,992
45,637
730,066
351,244
1880.
$61,669
$53,478
159,543
52,918
55,800
32,727
36,689
49,800
808.010
674,455
138,842
12.950
152,528
1*2,645
28,550
233,687
250,116
1*20,014
73,242
210,423
218,243
129,049
133,021
28,562
40,607
100 908
24.652
101.774
67.684
559,460
96,922
14,211
56,217
555,983
263,335
288,687
9.098
811,617
241,995
209,539
9,402
928,603
1879.
$444,122
680,482
$643,921
813,795
84,871
100,772
.*.
'
477,776
497,232
Atl.&Gt.Wcst
October
203,329 2,061,194 1,749,616
Atl. Miss. & Ohio.December.. 181,746
179,161 2,674,308 1,936,539
Ches. & Ohio
December.. 218,009
Chic. Burl. <t Q.. .November. 1 ,510,4-6 1,327.680 16,015,078 13.34I.5aS
204,429
Cin. Ham. & DajT.Deceraber.. 228,307
902,745
136,064 1.708,756
78,357
Denv.S.P’k&Pac. December..
27,122 1,090,315
997,307
35,073
Det. Lans. & No..4thwk Nov
Union
America,
Phoenix.
City
Tradesmen’s....
Fulton
Chemical
.Merch’nts’ Exch.
Gallatin Nation’l
Butchers’&.Drov.
Mechanics’ & Tr.
Greenwich
Leather Man’f’rs
Seventh Ward...
State of N. York.
American Exch..
Commerce
Broadway
People’s
North America..
Hanover
Irving
Metropolitan
Nassau
Market
St. Nicholas
Shoe & Leather..
Corn Exchange..
Continental
Oriental
Marine
*•«
Goorgia .......December..
December..
Iowa Central
Kans.C.Law.it So.2d wk Nov.
Marq. H. & Ont’n.November.
Nashv. Ch.&St.L. December..
217,894
150,174
231,056
151,414
81,402
18,011
34,202
175,996
N.Y. Cent, it Hud November.3.017,541
N.Y. L. Erie & W. December.. 1,720.788
Northern Central. December.. 491,310
....
29,183
185.653
...
538,509
1,800.878
2,049.448
December..3.547,823 3.453,925 41.200.068 34,620.276
Philadel. it Erie..December.. 281,919
304,056 3,727,734 3.091,808
Ports.Gt F.itCon.December..
10,821
9,904
St.Pau) it Duluth.December..
45,706
596,113
4.545,000
South. Pac. of Cal.November
396.000
Uniou Pacific
December..1,869.853 1,659,156 25,494,106 20,609,615
Wiseonsiii Cent...December.. -28,713
762,500
17,729 1,064,046
Demand.
Sixty Days.
Prime bankers’ sterling bills on
Prime commercial
Documentary commercial
Paris (francs)
London.
Amsterdam (guilders)
Frankfort (reichmarks)
Bremen (reichmarks)..
4
4
4
5
4 85%©4
4 84
©4
4 83%®4
5 23%2)5
40 ©
821* ® 4 83
©4 8112
81
80%©4 81
26)42)5 24%
39%® 39%
94%® 94%
94 %®
94%
3 82
Napoleons
XX Reichmarks.
X Guilders
4 73
3 96
©
@
3 86
4 77
4 00
Span'll Doubloons. 15 65 ©15 85
Mex. Douoloons..l5 50 ©15 60
Fine silver bars
1 1134® 1 12 %
Fine gold bars
par® *4 prein.
Dimes it % dimes. — 99 *2® par
94%®
94%®
..
Mexican dollars..
—
Do uncommorc’l.
—
English silver
Prus. silv. thalers.
U. S. trade dollars
U. 3. silver dollars
87% ®
86 ®
4 70
86
84%
84
21%
40%
95
95
—
—
—
—
997ea> par.
Balances.
Payments.
Feb.
“
“
“
“
“
Total
5...
7...
8...
9...
10...
11...
13
$
1,522,304 17
1,348,370 01
1.078,251 93
1,062,935 37
915,001 32
978
*671
1,128.757 11
«-
3,0960 37 37
939,279 89
8,569,367 44
666.758 08
579.551 04
637,832 45
Coin.
$
4,214,893 85
70.494,030 19
4,285,913 96
4,205,579 56
4.018,519 29
4.125,190 37
4,221,297 44
707.400
K 30.700
510.301)
150.700
749,7 00
191.800
178.3(H)
2.509.30(
3.278.000
3.558.100
1.504.900
711.200
173.000
415,000
1,121,200
383.400
Sept.
*
Oct.
..310,201,000
2.
.309,323,600
.
..313,531.200
..315,811.900
..317.013,300
‘
30.
Nov. 6.
13.
‘
20.
1
27.
Dec.
4.
“
11.
“
18.
"■
24.
“
31.
1881.
Jan. 8.,
15..
22..
29..
Feb.
5..
*
..317.880.200
..324.370.200
..324.970,000
..315.334,000
,.313.524,900
.5305,701,100
.293.959,200
.293,372,600
..292.417.900
,
,
,
“
“
“
Feb.
2.645.600
800,GOO
422,700
45.000
81,200
2.925 490
8.900*.
494.400
89.300
2,208.200)
1.800.000
238.900
811.000
92,900
255.000
L. 403.700
4,051.000
2.708.300
433,600
449,700.
450,000/
4.600
7,S03,5fH>
780,300
57,000
438.400
1.473.000
809.000
5.231.506
299.100
295,460
214.000
611.800
4,614,100
1,173.500
46 500
1.846.600
3.338.000
21.251,600
IS. 168,000
1.013,600
871.600
30.800
60.800
45,000
41,000.
224 TOO.
SlO.oOO
83-1.000
525.600
265.000
3.258.000
45,600.
1.291.600
440.200
6.538.300
3,515.700
1,785,000
439.500
267.500
17.554.100
7,974 400
l.035.900
90,00
450.000
99,200
345,(.(K)
192,000
1.413.400
i.603.000
1.429.400
2.524.800
4 043.500
1.714.000
30.000
437.500
18.800
407.400
1,017,900
391,500
1.339,600
180.000
1,098.200
19.94S.200
9.812.000
5,066.800
1,81)9,000
7,910,000
270,000
1.751.900
3.789.000
23.399.8iX),
22.172.0pC
SO 1.300
919.80(1
839.500
24.300
139.80C
160.900
746.900
229,000
1,043,100
18.803.80C
ii.286.000
2,851.000
5.746.400
\ 6.205.000
I
1.290,400 i
122.200
164,200
75.700
1,287,000
795.100
270,000
222.200
1.353.000
1.669.600
2.421.700
4,5'14 500
1.630.900
180,COG)
154,800*
15.997,560 307.097 200 18.363.300
week are as follows:
Inc. $4,584,900
Inc.
32,000-
deposits
Circulation
the New York City Clearing-
of weeks past:
Circulation
Deposits.
L. Tenders.
*
*
297,186,800
14.511.400
.
Ay.7. Clear
$
-
13.948.200
13,517,700
272.466.900
19,342,300 003,877,203:
19,353.600 025,050,18*
19.344.500
18.882.500
18.636.700
13.573.700
17.029,100
18.700,000
18.040.500
18,691.800
18.708.700
13.730.400
18,606.200
18.471.400
18.485.200
18.474.400
18.431.400
18.408.200
623.375,635*
573.355.801
705.598,706
651,169.02ft*
693.917,360
872,895.695
785.361.621
866,393,048*85(6,540.451
868,076.51*
1072,880,747
1155.094.682940.101.842
5*74,074.998
804.522,74 Of
817,931,113:
58,047,900
12.790.600
13.817.400 285.787.700 18,426,200 1179,878,98 fi
15,030,100 292.376.800 18.425.000 1179,899. :30 3
10.395.600 298.931.900 18.345,500 1224.948.132
17.287.900 302.512.3(H) 18,330,700 955,459,473;
15,9j7,500 337,097,200 18,363,300 1042,395,91
Specie.
150.429.100
8.300.100
8,074,000
7,902,300
*
$
$
$
151,767,000
151.533.100
the totals of the Bostoa
Deposits.* Circulation. Agg. Clear~
L. Teniers.
Loans.
$
3,015,500
2.904.700
3,012,300
3.436.000
103.529.300
102.845.300
99,550.3)0
98.371.300
07,342,800
30,597,000
30.517.700
30.539.200
30,616.400
30.628.700
30.563.200
71,908,4 S8
72.946,8 ;3
73,844,364
149.148.400
147,931,090
7.515.100
6.5)15,000
0,00 4,900
6.108,000
146.863.400
6.102.100
3,407,100
91,650,500
89,343,900
87,917,400
147,744.500
14S.2h3.20)
150.394.40)
150.634.300
152.018.200
151,919,800
6,750.9)0
7,150,40)
7,567.000
7,4 39,500
7,741,400
7,818,100
3,812.000
3.739,30)
90,217,630
93,614,803
3,745,303
3.753.400
3.809.(/00
95.901.8)0
97.430.300
97.562.100
39.623.800
30,083.000
30,727.590
81.409.54*
85.268.91ft
84.491.0tr
89.188.82S
78,576,830
3,300,800
‘*97,413,700
30.583.700
80,193,675k
follows:
$
73.441,349
74,515,64)
75,082,813
74.961,122
75,082,036
6
1881.
Jan. »
45,000
5,40ft-
2.673.600
.304.080,200
.302,864,390
.307.839,600 66.484.100
.310,682.200 66.264.100
.316,092,900 67,003,700
15
22
29
•*
MBS,OOk.
2.820.60C
3,517.000
4.083.I-0C
6.8S0.70C
Loans.
••
176,TOO¬
61.948.900
65,162,500
..297,756.700
1380.
Nov. 8
13
20
27
900.000,
6.698.300
2.578.700
12,092,000
3.300.700
3,132,000
3.174.400
s.
73.612.776
72.940.403
72,892,919
72.332.901
10
17
24
31
72.429.057
72,722.820
72.560.007
73.107.879
7
74,409,273
30,042.700
30,720,900
30,715,300
30,604,000
84
870,805.
80.240.704
78 970,958:
59,092,90ft
other bunks.”
Philadelphia Banks.—The totals of the
“
1,207,400
2,134,200
Including the item “ due to
Dec.
2,700409.900
38.500
585.000
436,000
103.100
187.000
517.800
232.900
304.006
298,350.500
2i)8,028.7i)0
66.517.300
65.147.600 13.197.200 294.806.900
65.256.300 13,010.300 295,011,400
66.992.200 1 z,629,600 301,013,000
67.364.300 13,035.000 302.500.900
65,6! 3.900 13,159,300 300.831,000
66.372.100 13,010.700 3(-2,532,100
66.691.700 11.989,000 307.790.700
64,955.400 12.474.900 307.70S.200
63.830.600 12,078.900 295,871.400
60.177.900 12,098,200 289,527.100
54.534.600 12,030,700 276.132.700
53.933.200 12.579.900 266,.385,200
55.677,800 13.318.400 207,6-29,900
57,086,000 13,30i»,000 207,008,0' 0
151,4:33.200
153.031.60J
are as
174.000
211.600
Boston Banks. —The following are
lanks for a series of weeks past:
1880.
Nov. 8..'
15..
251.200
818.0(Hi
360.200
4. ..311,942,800 65.434.700
..313,716,200 66.340.300
..314.123.500
781.000
3,526,000
$
11.
<153.200*
2.062.000
Specie.
Loans.
$
1880.
785,600 -
U.035.000
Dec.
•*
5,384.302 43
81.200
140.400
11.420.000
11.194,600
4.568.100
3.829.600
Legal tenders
Currency.
$
67,137,799 59
67.619,688 79
67,676,268 32
68.042,170 28
70,875,811 93
5.7/0,100
3,000.200
2.506.500
5.371.300
3.203.300
1.516.000
2.535.300
7,114.000
2.863.500
l.Vod
207,000
13 823.000
3.776 100
2.553.900
1.463.800
928,000
1.601.500
2.9:i7.490
927.200
3,615.000
506.000
•455,400
460.100
168.300
Inc. $5,110,700 | Net
*
Sub-Treasury.—The following table show3 the receipts
and payments at the Sub-Treasury in this city, as well as the
balances in the same, for each day of the past week:
Receipts.
172,300
844,000
2,236.000
4,708.500
Inc.
@ 4 73
— 69
— 995a
U. S.
0
058.000
4,(»14,700
40U
360,000
44,500
4.383.800
7.76 7.760
3,902.(H)0
9,657,901)
2.110.100
93,6(H)
116,000
201,100
253.100
608.900
Loans and discounts
88%
87
67 ©
99 %®
—
423.600
346.400
140.000
17.400
Specie
Coins.—The following are quotations in gold for various coins:
Silver %s and %s. — 9934® par.
$4 83 @$4 86
Sovereigti3
Five francs
— 92
© — 94
©
4,501.700
The deviations from returns of previous
Pennsylvania
Exchange.—Foreign exchange has been rather quiet at steady
quotations. To-day 1 he rates for bankers prime sterling bills,
on actual transactions
were about 4 82@1 82^ for sixty days,
and 4 85(0)4 85/2 for demand; cable transfers, 4 85/^ @4 86 t
prime commercial bills, 4 81.
Quotations for foreign exchange are as follows:
226.700
641.900
60.475.200 316.092,9 )6 67.603.700
To+al
422,991
2.801,835 30,772,015 26,521,216
1,398.245 19,439.366 16,509,120
414,599 5.050,337 4,107.948
Feb. 11.
600,800
The following are the totals of
House Banks’ returns for a series
642,138
781,566
10.761
•
1.419.500
14,150.100
400,000
1,500,000
2,000,000
500,000
210,000
250,000
3,200,000
2,000,000
300,000
750,000
500,000
1,000,000
300,000
250,000
200,000
750,000
300,000
100,000
Bowery National
117.900
310.3(H)
377.1(H)
130.300
14.023,000
300,000
N. York County..
Germ’n Americ’n
Chase National..
Fifth Avenue
302,000
231.400
353.200
67.000
186.0(H)
91.200
6,457.000
1,137,600
1,678,800
895,000
3,144.000
450,7iK)
450,100
1,006.800
3,362.000
1,000,000
Park
Mech. Bkg. Ass’n
North lliver
East River
Fourth National.
Central Nat
Second Nation’l.
Ninth National..
First National..
Third National..
N. Y. Nat. Exch..
1,3.36.(KM)
1.551.600
033,000
1,000,000
Importers’ & Tr..
.
December..
....
Citizens’
7.658,000
5.014,500
0.050.400
3,0(2.000
8,346.800
3.1 Si), 500
4.354.000
495,000
8,198.000
5.348.900
6.496.100
7,531.000
12.133,500 3,986.300
422,700
1,500,000
450,000
412,500
700,0<M)
1,000,000
500,(MX)
3,000.000
600,000
1,000,000
500,000
500,000
500,000
>
*
452,000
1,671.000
Circula¬
tion.
than U. S.
1.966.000
1,144.900
8*./9.200
6.683 KM)
5,000,OOo
1,000,000
1,000,000
Republic
Teiulcrs.
*
*
of
Net dept's
other
Legal
Specie.
8.313,00(1
2,000,000
2,050.000
2,(K)0,000
2,000,000
1,200,000
6,000,000
1,000,000
1,000,000
1,000,000
600,000
300,000
1,000,000
1,000,000
300,000
200,000
200,000
600,Of,0
300,000
800,000
5,000,000
Chatham
...
Eastern
Loans and
discounts.
*
Sew York
Manhattan Co..
Merchants
Mechanics’
319,041
467,449
127,181
181,463
Capital.
Banks.
Pacific
80,498
36,068
Average amount
176.079
40,279
Atl. <t Char.Air-L.Noveinber.
1881:
Mercantile
1880.
1879.
New York City Banks.—The following statement shows thecondition of the Associated Banks of New York City for the
week ending at the commencement of business on February 5*.
1880.
1881.
1880.
1881.
).
179
CHRONICLE.
THE
12, 1881.]
Philadelphia bank*
Circulation.
L. Tenders.
$
Deposits.
*
*
21.107,722
20,180,457
19,822,930
66.693,124
12.235.615
60,738.284
12,241,785
12,241,121
66,532.670
19.440,299
17.962,749
16,164.055
16,171.620
16,500,481
66.K12.4rt2
64.819.921
61.280.872
18.761,848
19,307.800
20.342,942
20,873.040
20.345.753
64.166,366
04.344.188
65.566.215
65.340,431
20,346.524
65,838.364
60,700.959
61,249.901
65,2T3,525
12.192.735
12.196.038
12.202.775
12.221.825
12,123.788
Agg. Clear^
49,025,584*
46.419.767?
43.741.604,
44.275.14 L
59,498,05ft*
46,572.862
40,446,056k
40,040.66ft
12.122.507
12,187,128
12,193,537
12,166.558
12.122.237
40.43J.284
12,136,113
52,415.25ft
67 222.44*
50.728.704
51.952.921
46.098 83a
THE
ISO
CHRONICLE.
QUOTATIONS OF STOCKS AND
O. S. Bonds and active Railroad Stocks
are
quoted
on a
previous
page.
STATE
...
7s, Memo. Sc L. Rock RR .
7a, L. R P. B. & N. O. RR.
7s, Miss. O. & R. R. RR...
7s, Arkansas CeriLral RR.
0s, loan, 1883...
0s, do 1891
0s, do 1892
0s, do
1893
Georgia—6s
7s, new
7a, endorsed
7a, gold
Am.
Railroad Stocks.
§48*1
§41
70
§24
80
Dubuque A Sioux City
.Frankfort Sc Kokomo
"Harlem
Ind Bloom. Sc Western—
Keokuk Sc Des Moines
do
do
Dref.
Louisiana Sc Mo. River
Louisv. N. Alb. A Chicago..
Manhattan Beach Co
Memphis Sc Charleston
§47”
130
80
200 ”
84
205'
§04
§23
§55
§19
§34
Missouri Pacific
N. Y. New Haven Sc Hartf. 178" ISC
N. Y. Ontario & West.,pref. §80
Peoria Decatur A Evansv.. §42*6
Pitta. Ft. W. Sc Chic., guar. §131
Pitta.'Titusville Sc Buffalo..
pref
Rensselaer Sc Saratoga
§130
Borne Watertown & Ogd...
do
do
pref.
do
fit. Paul Minn. Sc Man
Terre Haute Sc Indianapolis
§20"
§89k
Miscellaneous St’ks.
Adams Express
American Express
United States Express.
129
09
Wells, Fargo & Go
117
SO
50k-
American Coal
Atlantic Sc Pacific Telegr..
Boston Land Co
■Canton Co., Baltimore...
Caribou Consol. Mining
Central Arizona Mining....
Central N. J.Land Imp
Climax Mining
Colorado Coal Sc Iron
Consolidation Coal of Md..
Cumberland A Elk Lick Coal
Deadwood Mining
Excelsior Mining
Homestake Mining
Jerome Park Imp. Co
La Plata Minings
Leadville Mining
Little Pittsburg Mining
Mariposa L’d Sc Mining Co..
do
do
pref.
130
70
57k
119
47$$
48
00
64"
§3
0k
27k
7k
35
§56
40*6 41k
§39
12
6
27
13
7
28
§7
7k
§34*6
N.Y.&StraitsvilleCoal&Iron
N.Y.& Texas Land, limited
33
Ontario Silver Mining
x83
Oregon Railway & Nav. Co. §175
Pennsylvania Coal
Pullman Palace Car
30
•Quicksilver
19
do
pref
Silver Cliff Mining
Standard Cons.Gold Mining
Stormont Silver Mining....
fiutro Tunnel
-
-
.
c
..
-
-
*
-1
-
-
-
-
,
©
•
®
•
®
@
•
»
•
*
T
32k
32 k
t
•
♦
r
T
-
.
.
.
120
120
90
90
12k
18
63
§5
20
63k
20k
§2k
ii§i
£8 *4
100 "
125
59
100*6
100k i 100*1
114
82*
83
525
105k
106k
107
126
105k
125
104'
127
120 ‘
ids'
119
1st consolidated
do
assented.
^Convertible
do
do
assent’d
Am. Dock A Tmpr, bonds.
Prices nominal
115k
4115
assented
Adjustment, 1903
Lehigh Sc W. B., con., g’d..
4
,
13
0s,
0s,
12k
20k
AND
class 2
class 3
7k
....
127
....
7s,
1. A
D.Ext .,1908
S.-west div., 1st 0s, 1909.
1st 5s, LaC. & Dav., 1919.
1st So. Minn. div. 0s, 1910.
1st m.. H. Sc D.. 7s. 1910...
Chic. & Pac. div., 0s,191O..
Chic. Sc Northw.—Sink. f’d.
Int. bonds
Consol, bonds
Extension bonds
1st mortgage
122
107
123
;i08
90k!
....
107k 107k
117
;118
109k l-’0
.....112
4108 ,108k
130
....109k
K9 ,'nok
125
1120
124*4 1*0
Registered gold bonds
....'112
Sinking fund
UiOk
do
registered..
Iowa Midland, 1st m., Bs
1015*! 102
Galena Sc Chicago, exten.
Peninsula, 1st m., conv...
Chic. Sc Mil., 1st
Winona & St. P., 1st m. ..
do
2dm....
C. C. C. & Ind’s—1st, 7b, b. f.
Consol, mortgture
C. St.L.A N. O.- Ten. lien 7s
1st con. 7s
C. St. P. Minn.A O’aCons.Os,
128
....1121
109*4 HO
121k 122
112k ...
ii3k
100k 106k
Ch.St.P.A Min.,1st 6s.1918 110
N.Wisc., 1st M., 6s., 1930.. 4105
St. P.A Sioux C.lst 03.1919
ids'
Del. Lack. A W.— 2d mort.
115
7s, convertible
4125
Mortgage 7s. 1907
8yr. BiL gh. A N. Y., 1st, 7s
Morris A Essex, 1st m
do
do
do
do
do
2d mort...
bonds, 1900
construct’n
7s of 1871.
1st con., g’d..
113k
120'
125
134' 135k
115
100
100
117
Metropolit’n Elev—1st, 1908
Metropol. Elev.—2d 0s. 1899
Mich. Cent.—Cons., 7s, 1902
1st mort., Hs, 1882, s. f
Equipment bonds
6s, 1909
D. of
Registered, 8s
Collateral Trust, 0s.....
120
127
Kansas Pac.—
1st 6s, 1895
1st 0s, 1890
X
120 "
do
do
2d mort
1st con., guar
.109
4...
Columbia—3‘05s, 1924.
St.L. A S.F., 2d 6s.class A.
do
3-0s, class C.
do
3-6s. class B.
do 1st 6s,Peirce,CAO
130
do Equlpm’t 7s, ’95
South Pac. cf Mo.—1st m.
Texas A Pac.—1st, 0s, 1905.
Consol. 6s. 1905
Income and land gr’t, reg.
1st Rio Gr, Div., 6s, 1930.
Pennsylvania RR—
Pitts.Ft.W.A Chic., 1st
do
do
Cleve.A
do
118*4
Long Dock bonds
Buff. N.Y.A E, 1st m., 1910 128
499*4
N.Y.L.E.AW., new 2d 0s..
do 1st, con., f, cp.,7s :126
do
2d,con.,f.cp.,5s.6s
Gal. Har’g A S. Ant’o. 1st 6s.
1st La Grange Ex .6s,1910
2d mortgage, 7s. 1905. ...
Han. A St. Jos.—8s, conv...
Hous. A Tex. C.—1st, m. l.,7s
1st mort., West. Div., 7s..
1st mort., Waco A N., 7s2d C., Main line, 8s
2d Waco AN., 8s
Inc. and ind’y, 7s
Ill.Cent.—Dub. ASioux C.lst
Dub. A Sioux C., 2d div...
Cedar F. A Minn., 1st m..
Ind. Bl’m A W.—1st, pref. 7s
1st mort., 7s, 1900
2d mort., 1909
Ind’s Decatur A Sp’d 1st 7s
2d
3d
m.
m..
...'116
123k
123k 124"
100k
4th mort...
102k
113
4.... 113
4110
119
124
4122
100
99
104
4110
4113
118k
80
88
76k 78
107
103
109
100k
110
109
109 k
St.L.Va.&T.H., 1st g.7s,*97
109k
130
1105*110*4!
120
Det.Mon. A T., 1st, 7s. 1900
Lake Shore Div. bonds...
do
cons, coup., 1st
do
cons, reg., 1st.,
do
cons. coup.. 2d.
do
cons. reg.. 2d .
Louisv. A Nash.—Cons.m.,7s
2d mort., 7s, gold
Cecilian Branch, 7sw
N.O. A Mob.,lst6s. 1930..
E. H. Sc Nash., 1st 0s, 1919
Gen. mort., 6s, 1930
Nashv. A Decatur, 1st, 7s.
L. Erie A West.-lst 6s, 1919
4
123k'125*4
126k! 131
t No price to-day;
124
122k
121k 122k
105*4
110*6
these
I
,
f
.
.
•
•
•
•
102k
10556 106
107
....
102k 104
83k 83*4
99
9954
128
....
110
725*
look
72k
138
130
12856
127
114
113
10:
106k 107
4120
93
115
112
112
11054'
....
111k
104
109*4
100
108
99
98
....120
110
....
lllklu254
109kTl0k
51
109*^
53k
Q. A Tol., 1st, 7s, ’90,ex cp.
Ill.A So. Ia., 1st m.7s,ex cp
Hannibal A Naples, 1st <s 4100
St.L. K.C.A N.R. E.A R.,7s 4112k
Omaha Div., 1st mort., 7s 118
10354
104
12254
11854
121
.!” 107*
INCOME BOND8.
Central of N. J.-1908
are latest
quotation made this
ind's Dec. A Sp’d, 2d Inc...
Int. & Gt. Northern—2d Inc
Leh. A Wilkes B.Coal-1888
Lake Erie A W’n—Inc.7s,’99
do
Sand’y Div.,inc.1920
Laf. Bl.A Mun.—Inc. 7.1899
MobileA O.—1st pref. deben
2d pref. debentures
3d
do
4th
do
N.Y.LakeE.AW.Inc. 08.1977
N.Y.Pa.AO., 1st inc. ac, 5-7s.
N.O. Mob. ATex.deb.se., 1930
Ohio Central—Inc., 1920
do
do
small
Peoria Dec Sc E’ville—Inca.
Evansv, div. Inc. 1920
St.L.I.M.&S.—1st 7s,prf....'.
2d 6s, int., accum’lative
...
5
•
*
-
8054
1254
102
102
109
100k 101
98
72*6
14
102k
102k
109k
89
100
74
91
107
7954
04
92
79*6
64k
lOO"
si" 82k
75
80* 81*6
X
85k
52
30
34
80
5354
42
39
91
02k
68k
69
83k
83k
80
81
94%
94k
85
..
Miscellaneous List.
(Broker*' Quotations.)
RAILROADS.
Chic.ACan.So.—1st m.,g.,7s
90
80
Chic. A E. Ill.—S. F.c’y 1907 106
108
Chic.A Southwest.—7s, guar +122k 124
Cin. Lafayette & Ch.—1st m
Cin.A Spr.-lst, C.C.C.AI.,7s 115" 120"
1st m., g’d L. S. A M. S., 7s.
Erie A Pittsburg—1st m., 7s
Con. mortgage, 7b
7s, equipment
...
Flint A Pere M.—8s, l’d gr’t
Stock
'.
Preferred stock
Galv. Hous. A H.-7s, gld,’71
Gr’nd R.AInd.—lst.7s,l.g.gu
1st, 7s, Id. gr., not guar
1st, ex. 1. gr.,78
.
Indianapolis A St.L.—1st, 7s
m
+166" ids”
107
90
28k
87k
70k
115
107
91
96
04
84
51
US
88
75
112
108”
29
8854
122”
112
100”
08
86
53
92”
77
17k
Income, “ A ”
do
St. Joseph A Pacific—1st m
2d mortgage
St. Jo. A Western stock....
South Side (L. l.)—1st mort
12
a* 100
90
45
10
94
50
32
104
50
18k
96
58
34
100
Southern Securities.
(Brokers' Quotations.)
STATES.
So.Carolina—Con., 0s (good)
Brown
cons
M.A S.
Texas—0s, 1892
7s, gold, 1892-1910 ..J.A J.
7s, gold, 1904
J.& J.
Virginia—New 10-40g
Past-due Coupons.—
Tennesssee State coupons.
So. Carolina consol., valid..
consol, coupons...
do
103
104
108
115
118
5254
20
100
15
92
105
106
112
118
120
53
102
20
94
RAILROADS.
Atlantic A Gulf—Consol—
Cent. Georgia—Cons, m., 7s
Stock
Charl’te Col.A A.—Cons., 7s
2d mortgage, 7s
Stock
East Tenn. A Georgia—0s..
+110
112k 114k
109
10156 103
43
100
100
ii5k
Georgia RR.—7s
110
0s
Stock
‘..
MemphisA Cha’ston—1st,7s
2d. 7s
Stock
Mississippi Cent —1st
2d mort., 8s
75
7s
Miss. A Tenn.—1st m., Ss, A
1st mortgage, 8s, B
N. O. A Jacks.—1st m., 8s...
Certificate, 2d mort., 8s...
Norfolk A Petersb.—1st, 8s.
1st mortgage, 7s
2d mortgage, 8s
Northeast., a. C.—1st m., 8s.
2d mortgage, 8s
Rich. A Dan.—1st ccnsol., 6s
Southw. Ga.—Conv .7s, ’80.
Stock
S. Carolina RR.- j«t m., 7s.
Stock, assessmt. paid ....
.
7s, 1902, non-enjoiied...
Non-mortg. bonds
West Ala.—1st mort., 8e..,.
2d mort.. 8s, guar. ....
Western N. C.—1st m?«...
44
102
102
118
80
114
Iii" 110”
107
102
41k
m.
110
108*4 109k
E.Tenn.A Va.—6s.end.Tenn
E. Tenn. Va. A Ga.—1st, 7s.
Stock
...
weet.
51k
30
30
30
105
Ogdb’gAL.Champ. inc. 1920
Virginia coupons
10356 105
Equipment bonds, 7s, 1883
115
....
.
Consol, conv., 7s
107k .10
Gt. Western, ist m., ex cp *110
4.... llik
do 2d m.,7s,’93,ex cp
101
102*4
Clarinda b.,0s, 1919
107k 109
103k, 103*4
St.Chas.B’dge.lst, 7b, 1908
North Missouri. 1st m., 7s
115*6 ....
109k! 109k West. Un. Tel.—1900, coup.
1900, registered
ioikiuo Spring.V’yW.Works—1st 0s
494*4! 97
Oregon R. A Nav.—1st, 0s..
Cent. Iowa coup, debt certs.
C.St.P.A M’s L. Gr.,In.6s,’98
i Cnic.A East’n Ill.. Inc.,1907.
Ind’s Bl. A W’n-Inc., 1919..
“B”
102*4 103
N.J.South.—Int.guar.,6s,’99
8654
N.Y.AGreenw. L.—1st,7s, n
88k 88*4
do
2d
2d mortgage ext., ex coup
si
50*6
1907
do
2d mortgage
Midland of N. J.—1st, new
411456
liik
122k! 123*4
m.
Long Island—1st mortgage
107k
do
2d 7s, 1898
2d gtd.7s, ’98
do
92
Rome Wat. A Og.—Con. 1st.
St. L.Sc Iron Mount’n—1st m
2d mortgage
Arkansas Br., 1st mort...
Cairo Sc Fulton, 1st mort. 110
108k
Cairo Ark. A T., 1st mort.
St. L. Alton A T. H.—1st m. 111*6
107k
2d mortgage, pref
102
do
income
Belleville A So. Ill., 1st m. 115
St. P. M. A Manlt’a—1st, 7s. 10954
4105
2d mort., 0s, 1909
4107
Dakota Ex. 0s, 1910
120k j 129k
do
Sand’y Div.,0s,1919
Laf. Bl.AMun.—1st 0s. 1919
Manhattan Beach Co. 7s, ’99
N.Y. A Man. Beac ) 1st7s,’97 109
Marietta A Cin.—1st mort.. 4123
t And accrued interest,
123
...
Chic.St.L.AN.O—2d
2d mortgage
Kansas A Nebraska—1st
2d mort
112
107*6 108
103k 104
100
m..
Pitts., consol., s.f.
do
2d con...
do 1st Tr’t Co.ctfs.ass.
do 2d
do
ass.
do
do 1st
suppl.
113k
1
96
126k! 126%
Col. Chic. A I. C., 1st con., UH
idik
112
111
do
do
5
51
51
~ registered
(100k Col.Chic.AInd.C.,inc.7s,1890
ill
1st cons. 0s, 1919
Mo. Pac.lst cons. 0s,1920.
Pacific RR. of Mo.—1st m.
2d mortgage
118
do
1st, reg.
110
Denv.A It. Grande—1st,1900 115
113k
1st cons. 7s. 1910 113
do
108k 108k
Den. S. P. A Pac.,1st 7s,1905
127k
Erie—1st mort., extended..
2d mortg., ext’n 5s. 1919. 4109k! 110k
109
3d mortgage, 7s, 1883
109
4th mort. Ext., 5s, 1920...
113
112
oth mortgage, 7s, 1888 —
130
1st cons, gold7s, 1920
4....1125
100
95
111054
Denver Div., 6s,assd,’99
4116k 118'
•
•
RONDS.
....
81nking fund
.
Registered.
Mo.K. A T.—Cons.asfl..1904-0 108k! I09k
2d mortgage, inc., 1911
82k 82k
H. A Cent. Mo., 1st., 1890. 4109*4
Mobile A Ohio—New m., 0s. 108k 109'
Nash. Chat. A St. L.—1st 7s
116k 117
105
N. Y. Central—0s. 1883
K5k
111
0s, 1887
4105
6s, real estate
4105
6s, subscription
N. Y. C. Allud., 1st m.,cp.
131k
v 1st m., reg
do
131k L33
Huds. R., 7s, 2d m., s.f.,’8o 112 j ..
Canada South., 1st, int. g.
101k! 102
....-133
Harlem, 1st m., 7s, coup..
131
do
1st ra., 7s, reg—
133
N. Y. Elevated—1st, 7s, 1900 US
11354
N.Y.Pa.AO..prior lien 0s,’95 4100
101
Nevada Central—1st in. 0s.
N. Pac. bond cert. 6s, 1921..
10254 103"
Ohio A Miss.—Consol, s. f’d 118
120
118
Consolidated
125
2d consolidated
120k
1st m., Springfield div
H0k 117
Ohio Cent., 1st m., 0s, 1920.
105k T0(5k
do 1st Ter’l Tr.,0s,1920 10254 103
Panama S. F. Sub’y 0s, 1910 4108*4 109
108
Peoria Dec. A E’ville, 1st 0s
107
Evansv. div.,1st 0s, 1920..
Pacific Railroads—
Central Pacific—Gold bds. 113k 113*6
San Joaquin Branch.... 109k
Cal. A Oregon, 1st
104k
State Aid bonds
100" 100*6
Land grant bonds
109
111
Western Pacific bonds..
South Pac. of Cal.—1st m. 103k-104k
Union Pacific—1st mort.. 113*61113*4
Land grants, 7s
11454 114k
is. i917
Albany A Susqueh., 1st m.
AND
Mar.ACin.—1st mort., steri
Del.AHud.Canal—lstm.,’84 4106k
115'
1st mortgage, 1891
do
extended
do
Coup., 7s,’94
do
Reg. 7s, ’94.
1st Pa. div., coup., 7s, 1917
do
reg.,
.
STOCKS
..
Ask.
110
35
6s, deferred
83
101
110
0s, 1880
new
new series
6s, now 1 888
6s, new, 1887
6s, consol, bonds
0s, ex matured coupon....
5k
8?*
Consol. 4s, 1910
Small
Ohio-0s, 1881
MISCELLANEOUS
DcCk&lmp.,assented
be.
may
Bid.
.
Vlrgina—6st old
1
.
5
7
Special tax, class 1
...
Consol, mort., 7s
5s, sinking fand
Chic. Rk. 1.5 P.—0s, cp.,1917
1a, 1917, registered
£eok.A Des M., 1st, g., 5s.
Cantral of N. J.—1st m., ’90.
„
20k
52k Int. A Gt North. 1st 6s,gld.
122
L. Shore—M.S.AN.I., s.f.,7s
Wab.St.L.AP.,gen.,0sl92O..
Income
104k 105k
Cleve. A Tol., sink. fund..
do Chic.div.,5s,1910...
11U.'
Sinking fund
4111k H3
do
new bonds. 4108*6 iii"
do Hav. Div., 0s, 1910.
116
Joliet Sc Chicago, 1st m...i
118*4
Cleve. P’ville A Ash., 7s
do T.P.AW.,lst78,1917
Louls’a Sc Mo., 1 st ra., guar
110'
123
Buffalo A Erie, new bds...
Wab. RR.-Mortg. 7s of ’79.
do
109
3 lk
2d 7s, 1900.
Buffalo A State Line, 7s..
T.AWab., 1st ext.7s,
fit. L. Jack. Sc Chic., 1st m. 117
Kal’zoo Sc W. Pigeon. 1st. 4105
1st St. L.rdlv.7s,ex mat.cp.
do
1st guar.(504) 7s.’94
do
2d M. (300) 7s. 1898
do
2d guar. (188) 7s,‘98.
Miss.Ri v. Bridge, 1st, s. f.ds
Chic; Bur. Sc Q.—8 p.c., 1st m
....
do
1808
New bonds, J. A J
do
A.& O
Chatham RR
-
'
SECURITIES.
Rhode Island—0s,coup.’93-9
South Carolina—
0s, Act Mar. 23, 1869. >
Non-fundable
J* **
Tennessee—0s, old
.'
’
Funding act, 1866
do
do
....
Railroad Bonds.
Stock Exchange Ibices.
Balt. Sc O.—1st 6s,Prk.b.l919
Bost. H. Sc Erie—1st m
1st mort., guar
Bur. Ced.R.A North.-lst.5s
Minn.A St. L., 1st, 7s, guar
Iowa City Sc West’n. 1st 7s
C.Rap. Ia. Falls Sc N.lst 0s
Central Iowa, 1st m.7s, 1899
Chesap.A O.—Pur. m’y fund
0a, gold, series B, int. def.
0s, currency, int. deferred
Chicago Sc Alton—1st mort.
-
....
....
32
Montauk Gas Coal
New Central Coal
.
Ask.
.
Rens.A Saratoga, 1st,coup
...
Maryland Coal
.
Bid.
N. Carolina.—Continued..
No. Car. RR., J. A J
do
A.AO
do
coup, off, J. A J.
do
coup, off, A.AO.
....
Coupon gold bonds....
§42k
fit. Paul Sc Duluth
.
Chic.MU.A St. P.—1st .8s. P.D 133 | ....
2d mort., 7 3-10, P.D.,1896
123k!
1st m., 7s. $ g’ld,R.n.,1902 124k 126
1st m.. La C. Div.. 1893...
123k 124k
ist m., I. Sc M\ 1897
124k 120
ist m., I. & D., 1899
124k| ...
1st m., C. Sc M.t 1903
Con. sinking fund, 1905...
123k !25
2d mortgage. 1884
4104*4!
1st in.,
xl45
-Cln. Sandusky A Cleveland
Clev. & Pittsburg, guar—
T
Prices represent the per cent value, whatever the par
do
(AcUoe previously quoted.)
Albany A Susquehanna — § 120
OhiCago & Alton,pref..
Cin. Ind. St. L. A Chic
.
....
®
Carolina—0a, old.J&J
0s, old, A.A O
RAILROAD
Atchison Top. & Santa Fe.
Boston Sc N. V. Air L., pref.
‘Buffalo Pitts. A West
Burl. Cedar Rapids & No...
Cedar Falls A Minnesota...
Central Iowa
do
1st pref...
do
2d pref....
•
NEW YORK.
SECURITIES.
107
North
Louisiana—7s, consolidated
Michigan — 0s, 1883
7s, 1890
•
107k
New York—0s, gold, reg.,’87
0s, gold, coup., 1887
Connecticut—6s
....
110
111
112
115
1887..
do
do
103k
107k
109k
IN
BONDS.
Ask.
.
Missouri—6s, due 1882 or ’83
0s, due 1880
0s, due 1887
0s, due 1888
'
0s, due 1889 or ’90
Asylum or Univ., due ’92.
Funding, 1894-95
Hannibal & St. Jo., 1880..
Alabama—Class A, 2 to 5
Class A, 2 to 5, small
Class B, 5s
Class C, 2 to 5
Arkansas—Os, funded
7s, L. Rock & Ft. Scott iss.
do
Bid.
SECURITIES.
SECURITIES.
BONDS
[Vol. XXXII.
105
110
130
114
109
115
103
104
111
108
43
108
111
117*
110
117
108
no
125
115
105k
100
110
105
25
100
4«k
117
117
105
128
10?”
lis”
no
30
107
4Sk
118
118
106
i No quotation to-di j; latest sale this week
February
account, of the physical condition and equipment
road at the beginning and close of the year.
the first ten months is actual; that of the last two
an
Jmrjesltujents
“EARNINGS AND EXPENSES.
CORPORATION FINANCES.
Investors’ Supplement contains a complete exhibit
Funded Debt of States and Cities and of the Stocks and
The
of Railroads
of the
Bonds
i follows:
April, June,
without extra
Single copies
Passenger
Express
*
Mail
V
Telegraph
Miscellaneous
DECEMBER SUPPLEMENT.
The following is an index to all reports and Items heretofore pub¬
lished in the Investment Department of the Chronicle since the last
issue of the Investors’ Supplement; annual reports are indexed in
INDEX SINCE
black-faced type:
99
Susquehanna
43, 08, 92,
Tel
Am. Union
124, 140, 150
Anthracite Coal Tonnage
92
Atcli. Top. A San. Fe
43, 99
Atlantic A Paciiie Tel.. .08,92,
124, 140, 15G
99
Bald Eagle Valley
Finances
•....
Iloosac Tunnel & W...
Land Co
& Lowell
39,
A Maine
99
09
92
43
15
Boston
Boston
Boston
Boston
Boston
Burlington Cedar Rap. A
Canadian Pacific
N.09, 154
100, 121
Canada Southern
Cairo A Vincennes...
*072
*072
Central Pacific—*072, 09, 93,
121, 154
43
..154
Quincy ...15, 44, 121
Chesapeake & Ohio Canal
Chesapeake A Ohio
Burl. A
Mil. & St. P
155
R. I. & Pac
44
St. P. M. A Omaha
155
Chicago & West Michigan
121
Cin. fnd. St. L. & Chic....*072, 134
Cin. San. & Cleve
*672, 15
Chic.
Chic.
Chic.
Chic.
121
09
155
44
121
Cincinnati Southern
100,
Clev. Col. Cin. A Indianap
Columbus Chic. A Ind. Cent...
Columbus & Western
Connotton Valley
Dakota Southern
Dayton A Union
Delaware & Hudson Canal....
Delaware A Hud. Canal Com¬
pany’s Leased Railroads
121
09
155
98
Denver & Rio Grande
Denver South Park & Pao
Denver Utah A Pacific
*672
44
155
Detroit & Bay City
Detroit Butler & St. Louis
District of Columbia
121
69
69
15
Dubuque & Dakota
69
43
Fitchburg RR
100
100
Florida RR
Florida Central
121
69
Mimcie & Cin
Georgia RR
Grand Haven
Grand Rapids
100
155
& Indiana
Green Bay & Minnesota....09, 100
Hannibal & St. Jo
15, 100, 145
Houston & Texas Cent
*072
155
Huntingdon & Broad Top
Illinois Central
155
Indiana Bloom. & West. 15, 09,
100, 155
Ind. Cin. A Laf
134
.121, 156
121
Minneapolis & St. Louis
40
101
Minnesota Finances
Mo. Kan. A Texas
Nashua & Lowell
16, 43
Nashville Cliatt. A St. L
39
New Atlantic Cables
*673
New Haven A Northampton... 99
New Jersey Southern
121
New Orleans Pacific
*673
N. Y. Bust. Alb. & Schenectady 150
New York A Canada
98
N. Y. Cent. & Hud. River.*602,
*671,
15
N. Y. City A Northern
New York Elevated
N. Y. A New England
N. Y. Lake Erie & West..*002,
101
*673, 101
18,449
2,853
2,078
2,441
5,25$
$859,109
$096,631
The total cash receive!
prior :
>
$600,000, less cost
.
in bet to; m
“Amounts are
expended
as follows :
$3,928
595,167
259,922
$859,019
*nts and
charged to construe-
tion account
$15,482.
53,361
350,440
Conducting transportation
Motive power
Maintenance of waj#^
Maintenance of cars.
Terminal at Louisville
Total charged to
Net
194,304
7,250
construction and improvement
surplus December 31, 1880
The largest expenditure
$238,180
of money for improvements was in
the Road Department.
“
The main line from New Albany
miles long ; the length of the
35*17.”
*
*
accouut.. $620,838
to Michigan City is 288*52
Louisville branch is 1*02 ; sidings,
*
“During the year ninety-five miles of the old English 3% inch
Ogdensb. & L. Champlain. 70, 122
Ohio Central
70 iron have been taken up and re-laid with thirteen miles of steel
Ohio & Mississippi
16, 156 and eighty-two miles of re-rolled iron rails, and four miles and
Old Colony RR
44 488 feet of additional side-track have been laid. The steel was
15C
Oreg. Railway ANav. Co
put on the heavy grades and in the towns where the track is
Panama Canal
150 almost in constant use.” * * *
Panama Railroad
150
Pennsylvania Company
..
122
Pennsylvania RR
*673, 122
Pen. A N. Y. Canal A RR
98
Perkiomen
101
Peterborough
;
16
Philadelphia A Reading. .*673,
16, 17, 44, 70, 101, 122, 156
68
Phila. Wil. A Baltimore
155
62, 101
Pittsburg & Lake Erie
Pittsb. Titusv. & Buff.. 16, 99, 101
Pullman Palace Car Co
44
Railroad Construction in 1880 122
98
Rensselaer & Sar
Richmond & Danville ...*673, 15 4
Richmond Fredericksb. A P ...*673
Rochester A Pittsburg
156
Rochester A State Line ..*673,
71, 156
St.
St.
St.
St.
St.
St.
Jolmsbury A L. Champl’n.. 145
Joseph A Western
44
Louis Iron Mount. A So....
71
Louis A San Francisco. .17,
44
123
Louis A Southeastern
L. Vandalia A Terre Haute.
71, 120
St. P. Miuneap. A Man
123
Schuylkill Navigation Co
17
South Carolina RR
123
Southeastern (Vt.)
145
Southern Pacific
*673, 99
Southern Pacific of California. 101
“
The
revenue
from passengers
exceeded that for 1879 by
$22,948, or 14 23-100 per cent. On account of the unevenness
of our track, and the consequent impossibility of making fast
time, and close and prompt connection with safety, no efforts
have been made to secure ‘through’ business.” * * * “I can
see no reason why we should not from this time forward secure
our fair share of the through passenger travel from Louisville
largely-increased local business to and
Chicago to points on our line.
“The gross earnings from freight for 1880 were greater than
those of 1879 by $119,942, or 24 19-100 per cent. The first
eight months showed an increase of 42 33-100 per cent over the
correspondiag months of 1879. This rate of increase could and
would have been continued through the year if our company
had been able to supply the demand for cars. We were com¬
to Chicago, and a very
from both Louisville and
pelled to refuse business every day. The great rush began in
September. Our connecting roads, that had in other yearn
kindly, and for mileage, to a large extent, supplied our road with
cars to do the business, had now more than they could manage
in moving the accumulating and accumulated freight at their
terminal points and along their lines.
The line cars from the
East, destined for our an I other Western roads, were seized
before reaching their destination and loaded back.”
* * *
“The P. C. & St. Louis Railway Company, having notified ua
some time ago that it could no longer furnish us terminal
facilities in Louisville, your executive committee has purchased
09
10
Jack. Pen. & Mobile
100 Spartanburg A Asheville (S.C.) 17 depot grounds in that city, and
at once
101 for the transaction of this part of our business.”
Kan. City Lawre»ce & So
16 Sjuacuse Chenango A N. Y
Kentucky Central
16, 120 Tehuantepec Inter-Ocean
139
Portland & Rochester Railroad.
Knoxville A Ohio
10 Tennessee State Debt
62
*673, 123
Uake and Canal Rates
6 Texas A Pacific
(For the year ending September 30,
101
Lake Erie & Western... 16, 70, 100 Texas A St. Louis
A
Lake Shore & Michigan So
*672 Texas Western
The following is a statement of the receipts
£
Laurens, S. C
44 Toledo Cin. A St. Louis
6, 10-j* together with the more important
Lehigh Valley
98 Toledo Delphos A Burl
Little Miami
155 Union Faoiflc
92, 123 on this road in the year ending September 30 :
Long Island RR
16, 44, 68 Utah Southern
71
Receipts fromLouisville Cin. A Lex
16
,
92 Passengers
Louisville & Nashv.16, 39, 44,
70 Valley RR. (Va.)
Vicksburg A Meridian
71 Freight..
Manhattan Eievated
156 Virginia State Bonds
123 Mails and express
Marietta & Cincinnati
16, 145
*673, 71 Miscellaneous
Maxwell Land Grant
70 Wab. St. L. A Pac
Ice
Wash. City Va. M.A G. So
Memphis City Debt
70
*673, 6, 71, 92
Memphis Paducah & North...*672 Western Maryland
Total reoeipts
.*671
Metropolitan Elevated
121 Western No. Car
Expenses
100
*672, 100
Mexican Central
Western
Union
63,
68,
Tel.43,
Mexican National Railway....
16
Net profits
92, 124, 146, 156
Mexican RR
*672
International A Great No
Iowa Falls & Sioux City
590,657
'ecemberSl, 1880, less
operating expenses
“
N. Y. Ontario A Western ...70, 101
*671
N. Y. N. H. & Hart
New York State Finances
70
Northern Central
*073, 121
Northern Pacific
4, 44, 121
17,892
$99,974
$259,922
operating expenses to gross earnings in
Surplus earnings, January 1, 1889
Amount realized from sale of 3.00v' bonds,
of issuing same, $4,832
Nei earnings in 1880
70
121
1879.
$160,187
495,882
14,412
579,247
y
Net earnings.
“The percentage of
1880 was 69 14-100.
70
Morgan Road (La.)
155 Pittsburg Cin. & St. Louis
Eastern (Mass.) RR
East Tenn. Va. & Ga
Ft. Wayne
Midland of New Jersey..
earnings
Operating expenses
1880.
$183,135
015,825
17,383
Freight
Total gross
Albany &
earnings and operating expenses have been a»
“The gross
It is published on the last
and other Companies.
Saturday of every other month—viz., February,
August, Octobir and December, and is furnished
charge to all regular subscribers of the Chronicle.
are sold at $2 per copy.
of the
The statement of
estimated
AND
STATE, CITY AND
181
CHRONICLE.
THE
10, 1881.]
will
erect freight sheds
r
1880.)
and expenses,
repairs and renewals made
a
*xV’2-rS
..
Michigan Central
*
Volume XXXI.
*072
Wisconsin Central
124
ANNUAL REPORTS.
Louisville New Albany
& Chicago.
0
8>214
$24,728
1877, this road was placed in the hands of a
Receiver, who has continued to manage and operate the road,
rendering his accounts annually to the Court for
The following is a correct statement of the bonded debt of
In February,
settlement.
the
company, including accrued interest unpaid to October 1, 1880:
First mortgage
to City
of Portland
«qqq soo
283,590— $J83,»W
350,000
- - - - - 110,2o0— 460,250*
exchanged for
City of Portland 6 per cent bonds...
4o0,000
Interest due and unpaid to October 1
182,250— 632,25\r
marks
I herewith present for your consideration a report of the
Total debt and interest.
$‘-,0< 6,000
gross earnings and operating expenses of your road for the
In October, 1876, this company failed to pay the interest
year ending December 31,1880.
This statement embraces also
(For the year ending December 31, 1889.)
The first annual report of a railroad opened in 1852 and re¬
organized in 1872 is a document worthy of notice. President
R. S. Veeeh prefaced his brief repor J with the following re¬
:
“
Interest due and unpaid October 1
First mortgage 7 per cent bonds
Interest due unpaid October 1
Second issue of 7 per cent bonds
182
THE CHRONICLE.
[ v’OL., XXXII.
j
tlien due on the 7 percent bonds, and the same, together
subsequent coupons, amounting to $110,250, remain
unpaid.
The holders of these bonds have requested the
trustees named in the mortgage given by this corporation to
secure 350,000 bonds to foreclose the mortgage.
Accordingly,
last June, the trustees took steps to foreclose said mortgage,
and proceedings have been commenced by them for this pur¬
pose, both in Maine and New Hampshire.
I
coupons
with all
i
GENERAL INVESTMENT
NEWS
l
Alabama State Bonds.—The following have been placed on
the New York Stock Exchange list, viz.:
Bonds to the amount of $1,000,000, of $500 par value, paya¬
ble January 1, 1900, or at the pleasure of the State at any time
after ten years from date, bearing G per cent interest, and receiv¬
able for all taxes and other public dues to the State. The bonds
are issued under an a<A of the State approved February 13,
j
.
1879, for the purpose of paying and retiring old obligations
issued under the act of December 19, 1873.
Atchison Topeka & Santa Fe—Southern Pacific.—The Bos¬
ton Advertiser says : “ The Atchison Topeka & Santa Fe Road
expected to make a connection with the Southern Pacific by
the first of March, but, owing to the unusual inclemency of the
weather and other obstacles encountered, the connection cannot
be completed until later, or about the 15th of next month.
The capital
follows:
stocks of the consolidated companies were as
'
Pittsburg Titusville & BuffaloCommon stock, 127,500 shares, at $50
Preferred stock, 15,000 shares, at $50
Buffalo Pittsburg & WesternCapital stock, 12,500 shares, at $100
:
Salamanca Bradford & Allegheny River of PennsylvaniaCapital stock, 17,000 shares, at $50.
Salamanca Bradford & Allegheny River of New YorkCapital stock. 8,500 shares, at $100
Titusville & Oil City-
-
$0,375,000
750,000
1,250,000
850,000
850,000
Capital stock, 1,500 shares, at $50
75,000
$10,150,000
Total
road, as now organized, extends from Salamanca, N. Y.,
City, Pa., 100 miles ; branch to Bradford, Pa., 20 miles ;
Oil City, Pa., to Butfalo, N. Y., 140 miles ; Union & Titusville
Branch, 25 miles, and Titusville & Oil City Railway, 9 miles;
total length, 294 miles.
The authorized capital stock is as follows, viz.:
The
to Oil
$8,050,000
Common stock, 173,000 shares, of $50.
Preferred stock, 30,000 shares,
of $50
1,500,000
Total, 203,000 shaves
Of the
Of the
common
stock there is issued only 127,500 shares
..
$10,150,000
0,375,000
preferred stock there is issued only 13,030 shares...
090,000
Cable Construction
Company.—A report from Trenton,
reported that a construction company had been
organized, under the laws of the State of New Jersey, for the
The connection with the Southern Pacific will be made at Rio purpose of building and laying the ocean cables of the recentlyMimbres, a few miles west of Florida Pass. This point is sixty organized Gould company. Authority is given to lay cables ’in
miles southwest from Fort Thorn, where the Santa Fe Road
leaves the Rio Grande, and some sixty-five miles northwest
of El Paso. Recent advices from the extensions the Atchison
l
•
/
'
i
:
t
,]
it
•
'I
i
.
I
1
J
•i
I
•t
j
i
!■
i
N. J., Jan. 31,
both the Atlantic and the Pacific oceans.
The
name
of the
is the American Cable Construction Company. Its
capital is $10,000,000, and the incorporators are Denis Doran,
Topeka & Santa Fe interest is constructing in the southwest Wager Swrayne, Solon Humphreys, G. P. Morosini and A. F.
and Mexico are favorable. At last advices the Atlantic & Calef. Articles of incorporation have been filed in the Secret¬
Pacific had built ninety-three miles of its road. The Sonora ary of State’s office.
A call has been issued for the payment of the first ten per
had completed twelve miles of its road from Guaymas,
January 15, which entitles it to a second instalment of subsidy cent instalment on the $10,000,000 of the capital subscribed for
from the Mexican Government, and at the same date the Mexi¬ the American Cable Construction Company, incorporated at
Trenton. Most of the stock, it is believed, is held in the in¬
can Central had completed thirty-six miles of railroad.”
Atlantic Mississippi & Ohio.—Upon the petition of this terest of Mr. Gould, by whom the contracts for manufacturing
the cables were given out.
company to be allowed to redeem the road, and asking for a
Cairo & Vincennes.—Messrs. J. S. Morgan & Co. have issued,
postponement of the sale for ninety days, in order to give time
for its redemption, the argument was made at length in the in London, a circular to the holders of the first mortgage bonds
United States Circuit Court at Richmond, Judges Bond and reporting the completion of the scheme of reorganization pro¬
Hughes presiding. After General Benjamin F. Butler, of coun¬ posed in the circular of March 1, 1880. The owners receive,
sel for the petitioners, had concluded his argument, Judge for the principal of their bonds, common stock of the Cairo &
Bond read the decision of the Court denying the prayer of the Vincennes Railway, and, for the arrears of interest, preferred
petitioners, and confirming the previous order of the Court for stock. Of the 3,500 first mortgage bonds.of the old company,
the sale of the road on the 10th inst. The purchase on Mon¬ 3,467 have been surrendered, leaving only thirty-three out¬
day, the 7th inst., of the Virginia State lien of $1,000,000 for standing. The certificate» of stock, preferred and common,
#500,000 was conditional, and based upon the redemption or in the new company are now being issued against the receipts
purchase of the road by the Clyde syndicate. As they did not for the old company’s bonds. The railroad has been handed
redeem or buy, the agreement is null and void.
over by the Receivers to the new company as on June 30 last,
At the sale on Thursday, Feb. 10, the first bid—of $8,078,000 and the Receivers have been'finally released by the court from
—was made by Mr. Edward King, President of the Union Trust
their office and trust by a decree dated Nov. 23, 1880.
The
<Jo., and the representative of the foreign bondholders. The accounts filed by the Receivers prior to their discharge, covering
next bid—of $8,100,000—was made by Mr. Clarence S. Clark. the period during which the property was under the adminis¬
A lively competition then ensued between these gentlemen and tration of the court, viz., from May 17, 1874, to Juue 30, 1880,
■General T. M. Logan, representing the Clyde interest and the are printed, with the Auditor’s report thereon, showing a
Richmond &• Danville Railroad.
Seventy-five bids having deficit on their operations of $136,179, after deducting the pro¬
been made, ranging from $1,000 to $10,000, the road was finally ceeds of rolling stock sold in 1876. Between June 30, 1830, the
knocked off to Mr. Clark at $8,005,000. Mr. King’s maximum date from which the new company’s management will be held to
was $8,178,000 and that of General Logan was $8,001,000.
The commence, and Nov. 23, the date of the Receivers’ release, the
New York Herald dispatch says as to Mr. Clark himself there above-named deficit was increased by a sum of $129,237, chiefly
is authority for saying that he is interested largely in the com¬ for judgment claims, which had to be discharged before the
pany now building the Shenandoah Valley Railroad, and he is court would release the Receivers. Independently of these
Also a director of the Louisville & Nashville combination of judgment claims the total deficit of $265,417 is attributable to
Western and Southwestern railroads. He is understood to be thelarge expenditure for what was practically new construction
associated with New York and Philadelphia capitalists who under the head of “ maintenance and way,” amounting in the
have purchased the road for the purpose of converting it into a last two years to $9S,004 and $198,604 respectively, an average
grand trunk line in connection with the Louisville & Nashville of $148,300 per annum, against an average of the previous four
and other railroad systems in the West, which require such an years of $65,300 per annum. Good results’are anticipated from
-outlet on the seaboard as Norfolk furnishes. The new pur¬ the new connections now being opened. The St. Francisville &
chasers have been in close consultations with the old company, LaWrenceville junction with the Paris & Danville Road to the
and have agreed to make such certain overtures and concessions North is in operation, and is leased to the two companies—the
to the State and former stockholders as will secure their sup¬ Paris & Danville and the Cairo & Vincennes—jointly at about
port and hearty co-operation. By these amicable arrangements 7 per cent interest on the cost. The entry of the Paris & Dan¬
the new company will avoid endless litigation and make friends ville Road into Chicago, over the Chicago & Eastern Illinois
of the Virginia people and the State.
Railroad, completes the connection of the Cairo & Vincennes
Atlantic & Pacific.—One hundred miles of the Atlantic & with that city. When the junction with the Mobile & Ohio
Pacific Railroad Company’s track has been laid, and eighty Road to the South, now in active progress, is completed, the
miles are in operation. The trains start from Albuquerque, Cairo & Vincennes will form a link in a through route from
but the Atlantic & Pacific road proper leaves the line of the Chicago to the Gulf. Works are being pushed forward also
Atchison Topeka & Santa Fe Railroad Company a few miles for the enlargement of the terminal facilities at Cairo, The
deficit resulting from the Receivers’ operations, already referred
south, at a station called Isletta.
Bostfn Water Power.—A dispatch from Boston, Feb. 10, to, and the reorganization expenses, together more than absorb
the $265,000 of preference stock reserved for these purposes.
says : “ At a special meeting of the bondholders of the Boston It
has not been found practicable to i)rovide from this source,
Water Power Company to-day, a committee was appointed to
as was intended, for the necessary rolling stock, which, there¬
confer with the trustees and directors of the company upon the
fore, pending arangements for its
purchase, will be leased
expediency of requiring the trustees to take immediate posses¬ to the company at 7 per cent final
interest
on the net cost, as
sion of the mortgaged property in case of default of payment
entered in the books, which amount is considerably below the
of the bonds or coupons, or of taking some other measures as
actual cash value. As the $285,000 preferred stock above
maybe deemed for the interest of the bondholders, and to referred to would not, at present market price, suffice to cover
report at an adjourned meeting.”
the deficit assumed by the new company, Mr. J. S. Morgan has,
Buffalo Pittsburg & Western.—This consolidated com¬ in order to facilitate a financial adjustment, consented to
pany, organized January 20, 1881, by the consolidation of the receive payment for the total amount of Receivers’ certificates
Pittsburg Titusville & Buffalo, the Butfalo Pittsburg & West¬ held by him in said stock at par. “ The exceptional expenses
incident to a recent reorganization of a company without
ern, the Salamanca Bradford & Allegheny River and the Titus¬
ville & Oil City railway companies, has had its stocks placed on available capital will, we expect, absorb all the earnings for some
ihe New York Stock Exchange list.
[ time, and we do not look for any dividend on either preferred
company
.
Fbpruary
183
THE CHRONICLE
12, 1881.J
1882. The directors, however, will in
the shareholders of their operations
from the commencement of the current financial year.”
Central American Submarine Telegraph.—A prospectus
common stock before
due course issue reports to
or
State, appeared before a legislative Committee and
offered a proposition for compromise. He otfers to submit to
the Supreme Court of the State the question of the validity of
the bonds and the State’s liability thereon; and if the bonds are
held valid, he otfers to accept 50 percent of the amount due on
bonds and coupons in a new 6 per cent 30-year bond.
of this
lias been issued in Paris of the Central American Submarine
—At a meeting of the Committee of Twenty appointed by the
Telegraph Company, the object of which is to connect all of
Central America with the United States and Europe by cable— Legislature to consider the claims against the State on account
with tributary land lines—to be laid from Belize to Cuba, of the old Minnesota Railroad bonds, it was resolved to accept
Spain having granted a concession therefor. England will the proposition of Mr. Selah Chamberlain of Cleveland, and
guarantee for a term of twenty years the payment of the sum incorporate iu its bill to be reported all claims of like char¬
of £1,000 annually (about $5,0*00) as the proceeds of Govern¬ acter.
ment telegrams to and from British Honduras. The capital of
Missouri Kansas & Texas.—Mr. T. J. Portis, attorney
the company is to be £120,000 (about $600,000,'.
of the company, has prepared copies of a $45,000,000 mortgage
Chicago Milwaukee & St. Paul.—This company has placed to be recorded in the several counties through which the road
runs.
The mortgage covers the entire property of the Missouri
on the New York Stock Exchange list additional 6 per cent
bonds issued upon the Chicago & Pacific Division, payable Kansas & Texas Railway Company. The mortgage includes
January 1,1910, to the amount of $1,000,000, making $3,000,000 provisions for the exchange of all the “underlined” bonds, also
on the list.
Since the admission of the first lot the company’s for the second mortgage income bonds, as they are called, as
across
the Mississippi River at Savannah has been com¬ well as the others. It also provides out of the‘$45,000,000 for
bridge
the extension of the road through Texas to Laredo, on the Rio
pleted.
Also additional 7 per cent bonds issued upon the,Hastings & Grande River.
Dakota Division, payable January 1, 1910, thirty miles of new
Missouri Pacific.—The statement of the operations of the
road having been completed since November 10, 1880, when Missouri Pacific Railway for 1880 is printed below. The com¬
the first series was admitted.
pany paid quarterly dividends of 1% per cent in October, 1880,
Chicago St. Louis & New Orleans.—This company is pre¬ and January, 1881.
$5,325,341
paring its new bond and mortgage. The managers, in placing Gross earnings
2,848,971
Expenses
a 5 per cent bond in lieu of the outstanding 7 per cent bonds,
will reduce the interest charges on the property per annum
Net earnings
$2,476,370
1,320,300
4
from $1,250,000 to $900,000. It is stated that more that $9,000,- Annual interest and leases
000 of bonds have already assented to this conversion.
Leaving net surplus for stock (equal to over 94 per cent).. $1,156,070
2.. $19,496,000
Jersey City Debt.—Comptroller Nelson, of Jersey City, has Total bonded debt
::
12,419,800
made a report of the city’s debt, of which the following is a Capital stock
synopsis :
Total
$31,915,800
Bonded and floating debt
.Less water debt, which is self-supporting
$16,007,315
4,788,000
Total...
Less good past-due
Loss gocd past-due
$11,219,315
Total
Amount to be
taxes
assessments
$2,704,985
2,483,110— 5,243,151
$5,971,104
expended during balance of fiscal year
Amount of debt.
Lake Erie & West.—The following
1,200,404
$7,237,628
circular has been issued
Average bonded debt, per mile
Average stock, per mile
$32,932
—
20,979
$53,911
592
119
Total
Miles of road owned
Miles of road leased
Miles of road operated
362
1,073
Total
Morris & Essex.—The Delaware Lackawanna
Railroad Company gives notice that “ the Morris &
road Company’s seven per cent construction
will be paid in cash, with accrued interest, upon
at their office, on or before the 15th day of March,
which date interest ceases.
& Western
Essex Rail¬
bonds of 1889,”
by the Secretary of the Lake Erie & Western Railroad Com¬
presentation
pany : “ At a meeting of the directors of this company, held
this day, the concurrent resolution of this board for the con¬
1881, after
solidation of the St. Louis & Indiana Railway Company of
Illinc is, the Lake Erie & St. Louis Railway Company of In¬
New York Chicago & St. Louis.—The New York Chicago
diana and the Frankfort & Kokomo Railroad Company of In¬ & St. Louis Railroad Company has been incorporated, the fol¬
diana, which was to be submitted to the stockholders for con¬ lowing gentlemen being named as subscribers to its stock and
firmation on the 3d of March, 1881, was annulled and rescinded. as
original incorporators :—George I. Seney, President Metro¬
The transfer books will remain open.”
politan Bank ; C. R. Cummings, President of the Lake Erie &
—The company announces that its new extension from Fre¬ Western Railroad Company ; E II. R. Lyman, of Lowe Bros.,
mont, O., to Sandusky, is now completed and open for business. tea merchants, Wall Street; John T. Martin, of No. 97 Water
Lake Shore & Michigan Southern.—A press dispatch from Street; A. M. White, of No. 63 Broadway, and Walston H.
Chicago, Feb. 5, says : “ The Lake Shore & Michigan Southern Brown, banker, of No. 11 Pine Street. The Herald reports
Railroad Company has contracted for 55 new locomotives, 1,750 that, “a meeting of these gentlemen was held Feb. 3 at the
freight cars, and a large number of passenger coaches. The Metropolitan Bank, and a syndicate formed for building the
additions to its equipments during the present season will main line of the road.
“Within fifteen minutes $13,500,000 was subscribed, and ten
involve the expenditure of over $2,000,000.
Besides this outlay
for rolling stock, the company will construct a second track on per cent in cash paid in. Contracts for the construction of the
the western division of its road, reduce the grade to a maximum road have already been given out, and it is stipulated that 340
of 16 feet to the mile, and erect a freight house at Englewood.” miles of double track are to be laid by December 31 next.
The New York Chicago & St. Louis Railroad will consist of
Laurens.—The purchasers of this road at foreclosure sale a section 340 miles long, between Cleveland and Chicago, run¬
have organized the Laurens Railway Company, and have
ning parallel with the Lake Shore Railroad, but fifteen miles
received a deed of the property from the Court. The road shorter than Mr. Vanderbilt’s road. They have purchased
-extends from Newberry, &. C., to Laurens, thirty-one miles, and
fifty-six miles of the Wabash Canal, which will give the com¬
it will be worked as a branch of the Columbia & Greenville
pany a right of way 250 feet wide through the city of Fort
“
road.
Talley—Philadelphia Coal.—A large sale of col¬
liery stock and property is advertised to take place at Pottsville, Pa., on the 23d instant, when the Sheriff of the county
Lehigh
Philadelphia Coal Company on
issued by the Lehigh Valley Railroad Company
will sell out the stock of the
execution
for $782,805.
■aa
—The directors of the Lehigh Valley Railroad Company
have accepted an offer of about 106 for $300,000 more of the
Easton and Amboy first mortgage forty-year fives.
Wayne. Twenty miles west of Fort Wayne, at Fort Wayne
Junction, the main line divides, one branch leading to St. Louis,
which will be 325 miles in length, making 665 miles of main
double track,
with sixty-pound
line in the shape of a Y. The contract requires a
of standard gauge, built in the best manner,
rails. Brown, Howard & Co., of Chicago, are the contractors.
The first section is to be finished this year, and the St. Louis
section by July 1, 18S2. East
of Cleveland it is not yet decided
reach New York.”
New York Lake Erie & Western.—The earnings of this
Long Island Railroad.—Receiver Austin Corbin has been company in December and for three months of its fiscal year
were as follows:
granted permission by Justice Gilbert, of the Kings County
1879.
Month of Decomber—
1880.
• Increase.
♦Supreme Court, to issue $200,000 worth of certificates to meet Gross
earnings
$1,726,788
$328,543
$1,398,244
the expenses of the road.
181,128
Working expenses
1,048,476
1,229,605
Memphis, Tenn.—The Appeal gives the outlines of the bill
$147,414
Net earnings
$497,182
$349,767
of
of
providing
for
the
settlement
the
indebtedness
Memphis.
Three months (Ootoher 1 to December 31, inclusive)—
Increase.
The bill provides for a compromise of the indebtedness at
1879.
1880.
$796,258
twenty-five cents on the dollar, estimating principal and inter¬ Gross earnings
$4,627,777
$5,424,035
290.654
est thereon to the date of the repeal of the charter of the old
Working expenses
1 3,004,089
3,294,743
corporation. The rate of interest to be paid on this settle¬
Net earnings
$2,129,292
$505,604
$1,623,687
ment of the debt shall be three per cent per annum for the first
five years, and six per cent per annum thereafter, in payment
New York Ontario & Western-New York West Shore &
of which the people ask the legislature to impose upon them Buffalo.—It is proposed to complete the line of the New York
annual tax of 50 cents on the $100 on all taxable property
in the original eight wards of the city, and of ten cents on
an
the
by what route to
West Shore & Buffalo Railway Company from
the Hudson, about five miles above West Point, to
Cornwall, on
Buffalo. The
$100 in the ninth and tenth wards, which tax shall begin with compan3r was organized in 1839, with an authorized capital of
-and include the year 1882.
$30,000,000, and its route is projected from Cornwall to *
Minnesota State Bonds.—Mr. Selah Chamberlain, of Cleve¬ point near Athens and thence to an intersection with the
land, Ohio, who holds $1,000,000 of the dishonored obligations & W. near Oneida, and thence to Buffalo, a total of about 360
N.Y. O.
CHRONICLE.
THE
181
with
North j
miles. The company has entered into a contract
the
River Construction Company, a corporation organized under
the laws of New Jersey, for the building and equipping of the
line. The Ontario & Western and the New York West Shore
& Buffalo companies have entered into a contract which pro¬
vides for the joint use of the double-track road now partly con¬
the company.^
[VOL. xxxii.
The above-mentioned properties are already
earning about $500,000 per annum, and it is estimated that
j when the four steam colliers are in operation, next September,
the company will have net earnings from all sources of between
4800,000 and $1,000,000.
Philadelphia & Reading.—The argument in the suit of
structed between Weehawken and Cornwall now building. The Messrs. McCalinont to obtain a revocation of the order of the
line from New York to Buffalo will have a total length of Court authorizing the issue of the deferred income bonds, has
about 410 miles, and it is expected to have it completed and proceeded at great length in Philadelphia. It was also desired
equipped in a thoroughly first-class mnnner in two years.
by the complainants to prohibit the issue of the new $150,The construction company proposes to increase its capital 000,000 mortgage bonds, and as to these the Ledger reports
stock from $500,000 to $10,000,000. Preference in subscribing that it has been agreed on both sides that the Board of Man¬
to the new stock of the construction company is to be given to agers of the company should not do anything before the meet*
the stockholders of record on February 15 of the New York iugof stockholders in the $150,000,000 bond scheme that would
Ontario & Western Company. The right to subscribe at par is fix the liability upon the property of the company, without
offered to the extent of one share of construction stock for every the sanction of the Court.
—The Special Masters who were ordered by Judge McKennan
ten shares of the Ontario & Western stock.
No voting power
is to attach to the increased construction stock until it is fully in January to take testimony under the petition of the Messrs.
paid up, the scrip issued for the instalments as paid being McCalmont, concerning the deferred income bonds, filed in the
placed in trust with the Central Trust Compan}’. When the United States Court, February 9, a printed report covering 250
stock is fully paid up it is to stand in the names of three pages of testimony.
—The Governing Committee of the Stock Exchange have*
trustees, who are to have the power to vote upon them during
three years. E. F. Winslow is the President of the North decided that “ due bills for the allotment of deferred bonds of
the Reading Railroad are due and payable within twenty days
River Construction Company.
—Mr. Conrad N. Jordan, cashier of the Third National Bank after the issue of the bonds by the Philadelphia & Reading
since its organization, has resigned that position to accept the Railroad, and persons who hold or who have issued such due
treasurership of the New \\>rk Ontario & Western Railway Com¬
bills may call for
pany.
the rules of the Stock
The officers of the company say that a syndicate has
agreed to take at par that part of the new stock of the North
River Construction Company not included in the privilege
"offered to the Ontario & Western stockholders. They also state
that their articles of incorporation forbid the placing of any
bonds on the road ahead of the stock without the unanimous
consent of the stockholders.
Northern Minnesota.—A
meeting of the executive commit¬
railroad company was held at the office, No. 23
Fifth Avenue. The charter of the road is an old one, and has
tee of this
mutual deposits of 10 per cent, according to
-
Exchange.”
Rochester & State Line.—In the distribution of the proceeds
of the foreclosure sale, the Court has ordered the referee to
ascertain the present owners of certain detached coupons from
the bonds and their title to a share in the proceeds.
In relation
to these coupons the Referee makes the following statement
to the Rochester Democrat and Chronicle :
“It appears that the holders of the bonds and coupons men¬
tioned in the decree, and upon which the decree was based, are
entitled to 25*11682 cents on each dollar of the bonds and cou¬
recently passed into the hands of New York capitalists. At pons of which they are owners. I have received $2,112,800 in
meeting the President, Mr. B. S. Henning, was authorized these bonds. This, leaves $47,200 in bonds outstanding which
to contract for the necessary ties for the first hundred miles are not in the syndicate. Those represented by the first of of the road, and also steel rails for the same. It is the inten¬ these amounts are the assenting bondholders, while those repre¬
tion of the management to push the road as rapidly as pos¬ sented by the latter amount do not assent to the sale and reor¬
sible from a point on the Northern Pacific Railroad west ganization of the road. Of all the bonds now in my possession
through Dakota Territory to the Black Hills, making, when not one has all the original coupons attached, but they all
completed, a line of road about 600 miles in length. The have the coupons from Jan. 1, 1881.”
following is the list of directors : Frederick Billings, Hugh J.
St. Louis & Southeastern.—The purchasing trustees having
Jewett, Austin Corbin, A. B. Cornell, A. H. Barney, Johnstone received a deed of this road from the Court, have conveyed it
Livingstone, D. P. Cheeney, Robert Harris and B. S. Henning. to the new company organized by the purchasing bondholders,
Northern Pacific.—The operations of this railroad from which is known as the Southeast & St. Louis Company. The
July 1, 18S0, to Dec. 1, 1880, five months, have resulted as fol¬ new company has duly executed a mortgage for $6,500,000,.
lows, from an average of 754 miles, the earnings of divisions under which the Louisville & Nashville Company is to issue
in process of construction not being included :
bonds as provided by the lease and agreement with the bond¬
the
Oper. expenses.
including rentals
and taxes.
Land
sales.
223,500
330,300
$178,033
159,480
169,361
349,091
171,951
$178,669
116,903
238,825
293,054
158,905
Gross
Month.
ecu'nings.
$‘241,277
July
August
September
October
November
835,406
281,504
e-
$835,731
$1,437,223
Total
Tnis shows net earnings
*
$1,651,309
for five months of $601,491.
North Pennsylvania.—This railroad company has made a
loan of $1,250,000, at six per cent, to pay off the fixating debt of
the company. It is secured by a pledge of 25,000 shares of
stock, the Guarantee Trust & Safe Deposit Company acting as
trustee* The interest will be paid out of the rental received
from the Reading Company.
Oregon Improvement Company.—The Boston Transcript
says: “A statement of the company’s properties and prospects is
as follows: The first subscription circular of this company was
issued last October. The objects of the corporation, as therein
set
forth,
were
to purchase and operate the Seattle & Walla
Walla RR., of twenty-four
miles, and the connecting coal mine;
develop about 160,000 acres of wheat lands in Washington
and Oregon, and to purchase and develop timber lands. For
this $2,525,000 wai at first desired, but the project was after¬
wards enlarged so as to receive subscriptions of $5,000,000
cash, for which $5,000,000 six per cent bonds and $5,000,000 of
stock were issued, At the present market price of the stock
and bonds of the company, the original investors have almost
doubled their money, and that at the outset of the enterprise.
The following is a list of the properties purchased, together
•with their cost price:
to
List of Properties.
1. Seattle & Walla Walla Railroad, including
Cost Price.
extension and
improvements
$575,000
2. The properties of the Seattle Coal & Transportation Com¬
3.
pany, including the Newcastle Coal Mine, entire stock..
Agricultural and timber lands in eastern Wasliiugton and
Oregon
4. Properties of the Portland Lumber & Manufacturing Co..
5. Two lumber flumes with timber lands
6. Dock property of the Union Lumber Association in San
Francisco, intend* d for a general coal depot
7. Coal bunkers at Seattle and San Francisco
8. Two steam colliers, building
9. Two steam colliers, purchased
Total cost
Working capital remaining
Thus $1,150,000 remains in the treasury as a
1,000,000
420,000
160,000
100,000
345,000
150.000
700,000
400,000
$3,850,000
1,150,000
$5,000,000
working capital,
though half of this may yet be invested in productive enter¬
prises, At least half a million will be kept as quick assets of
holder* .—Railroad Gazette.
Schuylkill Navigation Company.—The report of the board
submitted at the annual meeting in Philadelphia,
of directors,
had the following :
“Provision had been made by the Receivers for the regular pay¬
ment of the interest on the loans of 1872 and 1882.
In relation
to the interest on the boat and car loans and theMmprovement
bonds, due November 1, 1880, the Receivers offered to purchase
from the holders the six months’ interest and coupons at 21
per cent. Of the extent to which settlements have gone under
this offer we are not advised.
In December last the Receivers
also offered to purchase six months’ dividends on the preferred
and common stock of the company, at 50 cents per share for
preferred and 25 cents per share for the common stock. In
1877 the Philadelphia & Reading Railroad Company offered to
pay five years’ interest in advance on the loan of 1895 in a six
per cent scrip, redeemable in five year’s, and also to pay the
annual dividends on the stocks of our company in like scrip, to
be issued annually; but the suspension of payments in May has
prevented the continuance of such arrangements. We believed.
that it was for the interest of our stockholders and loanholders.
that the Receivers should be aided as far as possible in their
arduous and complicated duties, and accordingly advised that
the propositions for the interest on the boat and car loans, due
November 1, 1880, and for the dividends on the stock, should
be accepted. As to the proposition for the settlement of the
improvement bonds, we abstained from advising, as the prin¬
cipal of that loan was payable in addition to the interest, and
the fund for the payment of that principal had been accumu¬
lated in the hands of our lessees. We believe some mutuallysatisfactory conclusion will be reached on this subject.
“The balance on December 31, 1880, was $11,002; the re¬
ceipts for the year, $428,647 ; the payments, $415,811; leaving a
balance on hand January 1,1881, $12,836. On January 1, 1881,
the Receivers issued to the company certificates to an amount
sufficient to pay the interest due on that day on the loan of
1882, for which money has been obtained and payments made.”
The question of the payment of rental was, after some discus¬
sion, referred to the board of managers.
Western & Atlantic (Georgia).—The Atlanta Constitution.
of Feb. 6 says: “The lessees of the Western & Atlantic Railroad
have just closed their annual meeting.”
* * * “Only the
original lessees were present. None of the new purchasers were
on hand.
A dividend was declared, and other arrangements
made to carry on the company in terms of the lea^e act. We
have noticed the fact that all the old officers are re-elected.
The suit that was instituted by Mr. C. H. Phinizy and others
against the lessees was dismissed formally on Friday.”
,
February 12,
THE
1881.]
Vhc (Emu nxercial
CHRONICLE.
185
COTTON.
jinxes.
Friday, P. M, February 11, 1881.
The Movement
COMMERCIAL EPITOME.
from the South
Friday
op the
Crop,
indicated by
as
telegrams
For the week ending
to-night, *is given below.
our
Night, February 11, 1881.
this evening (Feb. 11), the total receipts have reached 133,723
The weather has indicated the approach of spring; the tem¬
perature is much higher, rains have fallen, the snows are melt¬ bales, against 147,129 bales last week, 125,070 bales the previous
ing, the ice in the rivers and harbors disappearing. At the South week and 138,879 bales three weeks since; making the total
floods have done some damage, besides causing local interrup¬
receipts since the 1st of September, 1880, 4,244,993 bales, against
tions to railway and telegraphic communication. The Western
States have had similar experience, and unless the thaw shall be 3,983,518 bales for the same period of 1879-80, showing an increase
•arrested by lower temperature, serious damage can hardly be since
September 1, 1880, of 261,475 bales.
averted. Trade improves as spring approaches, but is not
active as yet.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
Total.
Receipts at—
Provisions have shown a general advance in sympathy with
upward course of the lard market, which at present receives
an equal support from shippers and speculators.
On the whole
the movement has been liberal. To-day old mess pork was
quoted on the spot at $14 25@$14 50; new mess, $14 25@$14 50;
for future delivery, April quoted $15 40@$15 60, May, $15 55@
-$15 75, bid and asked. Bacon was higher and firm; long clear
held by backers at 8 '40c.; 120 boxes do. do. sold to shippers at
8*20c.; long clear, 8%c.; short clear, 8%c. Cut meats were in
moderate demand and steady. Lard was again higher and in
demand; the demands are equally distributed between refiners,
shippers and speculators; prime Western sold on the spot at
10’05@10T0c.; February options realizedlO’OSOHO'OT/^c.; March,
10*05@10T0c.; April, 10'12^@10T5c.; May, 10T5@10*22^c.;
June, 10T7^@1025c.; seller six months, 10,02^@10*07/^c.;
the
quiet but firm at $20@$22
for extra city India mess. Beef hams firm at $20@$21. Butter
is quiet and easy.
Cheese steady at 12@13%c. for prime fac¬
tory. Tallow less active and weak at 6/6@6%c. The following
is a comparative summary of aggregate exports from Nov. 1 to
seller year,
Beef
9,92/£@9,95c.
was
Feb. 5:
-
Wfifl
Pork
Lard...
lbs.
lbs.
lbs.
Total
lbs.
Bacon
1880-81.
1879-90.
Increase.
113,368,524
18,686.800
209,823,370
91,202,461
1,389,600
46,710,650
22,166,063
389,978,944
319,712,631
70,266,313
20,076,400
256,534,020
hog-packing at the West shows a large increase ; total
packed from November 1 to February 2 at the six principal
points, 6,661,356, against 6,304,969 the previous week; total same
period last year, 5,896,656, against 5,618,541. Total packed
past week 356,387, against 315,000 previous week, and 278,115
The
same
time list year.
| [Rio coffee has been dull and somewhat depressed, and closes
at 12%c. for fair cargoes. Mild grades have been moderately
active, at prices showing no marked change, but the market
closes in
sympathy with Rio.
Rice has met with a good de¬
mand, at rather firmer prices, especially for the better grades.
New Orleans molasses has been dull at unchanged prices ;
foreign has been dull and
nominal for old, but there has been
Galveston
4,227
Indianola, Ac.
New Orleans...
....
2,171
3,003
....
5,906
2,398
10,517
3,232
Mobile
3,434
4,300
....
3,203
....
....
3,567
2,622
Brunsw’k, Ac.
....
Charleston
6,653
7,680
8,916
47,982
2,524
790
654
1 008
10 607
89
QQ
2,735
15,725
Pt. Royal, Ac.
.
-
.
.
....
City Point, Ac.
....
....
....
232
307
108
Boston
489
915
....
....
comparison,
....
•
....
•
.
•
339
10,463
5,036
3,532
5,890
157
934
609
787
1,721
115
....
82
20,763 23,485 18,721
436
....
54
242
1,593
339
18
321
....
'
1,391
5,036
....
2,293
1,928
1,690
1,369
34
Totals this week 26,031
For
....
1.737
....
39
40
10,499
....
744
Baltimore
141
1,502
291
New York
Pliiladelp’a, Ac.
1,238
....
....
....
2,425
141
-
313
1,328
1,786
-
....
1,339
....
....
Norfolk
1,593
2,820
....
1,963
312
Wilmington
Moreli’d C.,Ac
2,388
....
2,032
361
8,310
Florida
Savannah
20,33S
361
240
692
17,049 27,674 133,723
give the following table showing the
we
week’s total
stocks
receipts, the total since September 1, 1880, and the
to-night and for the corresponding periods of last year:
1880-81.
Receipts to
This
Feb. 11.
Since
Week.
Galveston
Sep.
1, 1880.
20,338
492,883
361
12,929
Indianola, Ac..
New Orleans
47,982 1,060,092
Mobile
10,607
89
Florida
Savannah
.
15,725
141
Brunswick, Ac.
10,499
Charleston
Port
Royal, Ac.
Wilmington
Slock.
1879-80.
This
Since Sep.
Week.
1, 1879.
6,541
306,695
18,957
717,459
4,467
510,537
43,783
7,474
871
15,619
39,629
7,776
1,000
104,199
936
1881.
1880.
391,414 103,981 74,576
7,158
1,149,467 277,063 363,185
310,225 50,501 62,789
1,387
17,567
5,086
643,808 77,316 73,569
3,502
397,671 67,693 44,289
1,811
27,110
4,925
8,528
71,029
23,675
446,388 24,240 35,845
143,776
133,323 192,217 273,392
166,819
7,985 14,900
13,361 13,832 21,473
31,725 15,777 16,740
1,593
refining stock, to arrive, for which
702
339
M’head City,Ac
25,990
29c., on the basis of 50-degrees test has been bid ; but, in the
557,098 12,369
Norfolk
10,463
absence of transactions, the market has been entirely nominal.
169,511
2,470
5,036
City Point, Ac.
Spices have been quiet. Tea has been about steady, at private New York
87,206
4,943
3,532
sale, and a fair business has been done in this way ; while at
92,121
6;059
5,890
the auctions firm prices have ruled on the whole, and few Boston
523
436
Baltimore
18,948
sales have been held. Raw sugar has been quiet at the last
692
3,788
26,272
Philadelphia, Ac.
quotations for Muscovado, or 7M@7%c. for fair to good refin¬
Total
ing ; centrifugal closes rather weak, with some business in
133,723 4,244,993 119,854 3,983,518 842,477' 995,663
sugar of 97-degrees test at 8 3-16c., that of 96 degrees polari¬
The exports for the week ending this evening reach a total
zation being quoted at 8@8%c.
Refined has declined to9^c.
for granulated, 9/£e. for powdered and 9/£@9%c. for crusned,
of 97,685 bales, of which 65,625 were to Great Britain, 10,739 to
and business, even at the decline, has been quiet as a rule.
Kentucky tobacco has been dull, and prices are easier at 4@ France and 21,321 to rest of the Continent, while the stocks as
6c. for lug and 6^@12c. for leaf.
Sales for the week are 250 made up this evening are now 842,477 bales. Below are the
hhds., of which 150 for export and 100 for home consumption.
Seed leaf, on the contrary, has been quite active, and the sales exports for the week and since September, 1,1880 :
for the week are 3,964 cases, all the crop of 1879, as follows :
Since September 1. 1880,
Total
Week Ending Feb. 11,
1,512 cases Pennsylvania, 6^c. to 40c.; 650 cases New England,
some
demand for
new crop
......
12^c. to 38c.; 182 cases
120
cases
and 100
to
Wisconsin Havana seed, private terms ;
1,400 cases Ohio, 7c to 12^c.,
State, private terms ;
cases
Exports
from—
sundries, 9c. to 18c.; also, 900 bales Havana 82c.
19%@19^c. for Lake.
American pig iron
demand at $20 for forge and $25 for No. 1.
been active at $59@$60 for late 1881 delivery.
has been in fair
Steel rails have
Hops have been
less active but generally steady; State, 1880, 15@23c.
Wool
has continued dull and irregular; stocks are large, and the
manufacturing demands are checked by the low streams through¬
out New England.
In ocean freight room little or nothing of importance has
been reported. Berth rates are irregular, and charter room
rules firm, owing to the small supply of tonnage. The engage¬
ments were: Bacon to Liverpool by steam, 30s.; cheese, 35s.;
Great
Brit’n.
$1.25
Naval stores ruled very quiet and rather easy, at 46^@47c.
for spirits turpentine, and $1 70@$l 80 for strained to good
strained rosinsf Petroleum was less active, but ruled firm at
9c. for refined for export. Crude certificates have been easy,
and close dull at 89%@90c. Ingot copper is in fair demand at
Galveston
New Orleans..
Mobile
Savannah
Charleston*...
Wilmington...
8,410
29,783
4,674
4,803
3,210
3,859
France
3,314
4,104
2,791
530
3,800
2,814
Total
Great ‘
nent.
Week.
Britain.
1,920
sines
Conti-
Franct
,
7lent.
Sept. 1,
1880.
11.724
184,005
30,870
54,303
209,184
35,807
544.408 190,700
170,321
911,498
4,074
40,218
10,040
5,709
02,027
105,049
158,022
53,700
388,347
341,481
1,173
5.503
194.321
29,477
46,097
1,444
2,850
21,935
188,821
8C6
19,421
8,222
3,859
4,461
2,814
50,175
589
59,402
27,439
14,018
2,215
589
Baltimore
Philadelp’a.Ac
Conti¬
......
3.075
New York
Exported to—
Exported to—
......
591
591
244.192
•
«.
•• •
130,702
11,222
800
43,587
13,432
102
00,372
247,848
202,843
50,175
72,834
27,541
Total
65,025
10,739
21,321
97,085 1,720,937 343,088
025,125 2,095,150
Total 1879-80
55,800
0,109
14,410
70,325 1,509,012 222.009
527,050 2,258,131
•Includes exports from
Port Royal, Ac.
In addition to above exports, our telegrams to-night also give
grain quoted 5@5%d.; cotton, 3-16@;4d.; flour, 3s. per bbl. and
228. 6d. per ton; grain to London by steam quoted 6%d.; bacon, us the following amounts of cotton on shipboard, not cleared, at
32s. 6d@35s.; cheese, 42s. 6d.@45s.; flour, 2s. 6d. per bbl. and
22s. 6d. per ton; grain to Glasgow by steam, 6d.; cheese, 40s.; the ports named. We add similar figures for New York,
are prepared for our special use by Messrs. Carey, Yale &
[avre or Antwerp, 4s.; refined petroleum to Bremen or Ant¬
Lambert, 60 Beaver Street*
werp, 3s. 3d.; do, to Hamburg, 3s. 6d.
which
Srain to Cork for orders, 5s.@5s. l>2d. per quarter; do. to
On
Feb. 11, at—
Shipboard, not cleared—for
France} foreign
Great
Britain.
4.500
4,782
1,100
3,250
27,909
3.500
None.
None.
15,000
Other ports
56.842
Tof 0 ’
Coasttcisc.
3,382
1,500
600
12,700
3,000
1,716
11,707
3,688
850
None.
29,839
Included in this amount there
are
H
18,188
12,95*6
*37.55 i
10.664
17,400
57,029
59,916
45,071
*4,550
21,000
58,910
187.667
Ctl
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The advance
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Strict Ord.
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Middling... H9i6
Good Mid.. 12*4
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3
TEXAS.
NEW ORLEANS.
Sat.
p.
c*
o
quiet to-day a" 11 9-16c. for middling uplands.
The total sales for forward delivery for the week are £>i36,500
bales, including
free on board. For immediate delivery
the total sales foot up this week 3.353 bales, including 357 for
export, 2,901 for consumption, 100 for speculation and
in
ransit. Of the above, — bales were to arrive.
The follow¬
ing are the official quotations and sales for each day of the
past week:
mou Tne«
m
«
®
—
200 bales at presses lor foreign
day last was caused by a violent storm in the valley of the lower
Mississippi, and the improvement on Wednesday was due largely
o better foreign advices, with some revival of confidence among
the “ bull ” party. Cotton on the spot was quoted %c. lower
on Saturday, and remained
unchanged with a moderate
demand for home consumption and a limited export, closing
Sat.
IT'
(t
3'
ci g OD«=
®
x
CC
CO
delivery, and prices were quite variable. There
•was an important decline on Saturday, amounting
to 9@10
points for February and the next crop and 14@17 points for the
spring and summer months. On Monday there was a consider¬
able advance, but it was mostly lost at the close. On Tuesday
prices were variable, being at times higher and lower, closing
•with very little change from Monday, but quite strong in tone.
On Wednesday there was an irregular advance—but generally
8@10 points for the active months of this crop—but September
was the most buoyant month, selling 12 points better, and clos¬
ing 10 points up, while July closed only 6 points dearer. On
Thursday the opening was dearer, but the close was lower,
except for this month, under the pressure of low grades in
excessive supply. To-day the market opened lower, but closed
Feb. 11.
2
uj r*
<*s
m
JU
33
3*
3 3.
1— —
4.>3.1 /9
tion for future
Feb. 5 to
c <•>—
C
i-t
'
a g cd «
<3
c
UPLANDS.
—■
*3
io
cover
~
3
rt>
specula¬
demand to
P-
otjcc
3
gp
~
3
52,706
111,635
of which we cannot learn.
There has been a moderate degree of activity in the
on a
T
3^
ports the destination
steadier,
2.
b a.
5,000
1,000
[Vol. XXXIL
daily market, the prices of sales for each month each day, and
the closing bids, in addition to the daily and total sales:
cc
1,000
6,500
Leaving
Stock
Total.
.Not rc ceived.
200
5,000
WewOrleaii8
Mobile
CnarleBton
Bavaunnli
Galveston
New York
*
CHRONICLE,
THE
166
—1 OD
1
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1 ©
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coo
CC CO
! 1
1 I
r
1 1
1 1
1 1
1 ©:
i ©;
1 ©:
1 ©:
1 ©:
1 ©:
11%
11%
11%
111316 lllyie 1113io 1113,,. 1113,6
1
b
(b
12%
12 34
•
•
13%
1
14%
l
1
;
1
!
:
1
1
!
l :
1
1
!
i :
i
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i
t
.
r
*
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1.
Cft
.
<
1
>
STAINED.
Sat.
Good Ordinary—
!b
Strict Good Ordinary
Low Middling
Middling...
8%
9%
.......
.......
10
11
.......
mon Taem Wed
8%
9%
10
11
8%
9%
10
1 l
8%
9%
10
11
Th.
Fri,
8%
9%
9%
9%
10
1 1
10
11
*
Includes for December, 1881. oOU; also Bales in September for Sep¬
tember. 621.400; Sept.-Oct. for Oct., 946,500; Sept.-Nov. for November,
762,100; Sept.-Dee. for December, 1,464,500; Sept.-Jau. for January,
2,58^,900; January for January, 1882, 300.
Transferable Orders—Saturday, 11*20;
Monday. 11*20; Tuesday,
11 20; Wednesday, 11*25; Thursday, 11*30; Friday, 11*30.
Short Notices for
MARKET AND SALES.
SALKS OF SPOT AND
SPOT MARKET
CLOSED.
TRANSIT.
ExConSpec- Tran¬
Total.
port. sump. ul'Vn sit.
FUTURES.
•
Sales.
*30 pd. to
*42 pd. to
Deliv¬
eries.
Error
left in
Bat.. Quiet at %dec...
Quiet
Mon
Toes. {Juiet and Bteady
Wed
Quiet and Bteady
Thors Quiet and Bteady
.
Frt.. Quiet and
Bteady
257
.
.
.
.
....
357
Total
Hie
276
523
711
285
510
596
ibo
2.901
ioo
....
....
....
....
100
....
....
276 119.900
723 111,200
711 107,900
542
79.300
510 78,300
596 89,900
400
400
3.359 596.500
2.500
600
400
300
400
daily deliveries *n veil above are actually delivered tile day pre¬
ou which they are reported.
vious to that
The Sales
and
Prices
ing comprehensive table.
Futures are shown by the follow¬
In this statement will be found the
of
February—Saturday, 11*19; Friday, 11*20.
following exchanges have been made daring the week:
The
exch. */00 Mar. for May. I *41 pd. to excli. 200 Mar. for June^
oxch. 300 Mar. for June. | *15 pd. to exch. 300 Mar. for April*
in
Visible
charge
on
Supply.—Through
an error
of the
person
Friday night, the cable figures for Liverpool
wrongly given in the Chronicle “ Visible Supply”
table on Saturday last. We corrected the statement on Monday
as soon as the error was brought to our notice, and issued copies
to the various Cotton Exchanges throughout the South as well
as to the Exchange in this city.
The corrected figures showed
an increase in the cotton in sight last Friday of 237,490 bales
stock
as
were
compared with the same date of 1880,
an
increase of 250,663
February
THE
12,1881.]
with 1879 and
compared with 1878.
]>ales as compared
The Visible Supply op
an
Cotton,
CHRONICLE
increase of 23,220 bales
as
as
made np by cable and
telegraph, is as follows. The Continental stocks are the figures
of last Saturday, but the totals for Great Britain and the attoat
for the Continent are thi3 week’s returns, and consequently
Augusta, Ga
Columbus, Ga...
Macon, Ga
..
Montg6m’ry,Ala.
187
Week ending Feb.
00 v-4
Receipts. Shipm'ts
Stock.
4,123
4,863
3,001
2,078
1,022
1,181
Week
Receipts. Shipm'ts
27.431
23,103
837
9,369
1,555
8,221
ending Feb. 13 ,'80.
3,213
1,63 4
6,101
3,500
14,002
19,410
425
1,753
3,642
2,729
3,887
8,949
brought down to Thursday evening; hence, to make th*e totals the
complete figures for to-niglit ^Feb. 11), we add the item of exports
from the United States, including in it the exports of Friday only:
Selma, Ala
Memphis, Teuu..
Nashville, Teuu.
1,098
1,069
7,912
11,786
1,520
14,924
1,760
75,067
11.432
1,491
1,201
11,153
2,223
1881.
1880.
1879.
1878.
Total,old ports..
22,803
28,039 162,585
21,340
668,000
50,800
483,000
453,000
58,500
558,000
Dallas, Texas
Jefferson, Tex...
Shreveport, La..
Vicksburg, Miss
Columbus, Miss.
Eufaula, Ala....
Grittin, Ga
Atlanta, Ga
Rome, Ga
charlotte, N. C..
St. Loilis, Mo
Cineiuuati, O....
444
303
Total,
ports
Total, all....
Stock at Liverpool
bales.
Stock at Loudon
.......
Total Great Britain Btook
.
Stock at Havre
Stock at Marseilles
S ock at Barcelona
36,950
718,800
81,300
521,950
5,500
2,300
33,700
62,100
516,500
127,750
3,000
570,250
8.250
31,500
2.500
7,500
34,000
Stock at Hamburg
Stock at Bremen
2L.400
19,158
1,300
18.030
Stock at Amsterdam..
23.400
22,800
10,750
29,750
1,130
1,200
8.500
884
599
5,300
2,932
2,250
6,000
1,000
Stock at Rotterdam
Stock at Antwerp
Stock at other oonti’ntai ports.
12,250
179,250
4.750
30,750
11,000
7.750
173,614
130,419
198,750
313,750
Total European stocks..
892,414
652,369
83,469
715,250
884,000
73.000
91,000
508,080
667,000
629,000
37,023
18,000
35.000
994,391
195.906
816,373
119,771
915,791
9,000
23,000
19,000
..
134,000
..
630,000
33,000
842,477
Stock in U. 8. interior ports...
United Strtes exports to-day..
162,585
28,000
Egypt,Brazil,<fcc.,aflt for E’r’pe
Stock in United States ports
136,470
Total visible supply
2,722,470 2,485,243 2-,467,894 2.710.261
Of the anove. the totals of Amoriouu and other descriptions are as follows:
American—
Liverpool stock
515,000
Continental stocks
121,000
American attoat for Europe....
United States stock
United States interior stocks..
United States exports to-day..
Total American
630,000
363,000
107,000
508,080
335,000
160,000
667,000
842.477
991,391
846,873
162,585
195,906
9,000
119,771
23,000
23,000
...2 ,302,062
East Indian,Brazil, die.—
Liverpool stock
Continental stocks
India attoat for
Europe
Egypt, Brazil, &c., attoat
117,000
50,300
49.614
36,050
134,000
33,000
India, &o
420,414
Total American
Total visible
257,000
supply...
Price Mid. Upl., Liverpool
23,419
83,469
3 7,023
302,S66
32,471 195,906
4,055
2,545
1,500
1,422
700
75 !
850
2,575
7,82 4
755
195
1.934
11 ,(56 i
2,824
9,262
823
6,972
5,400
339
7,074
1,039
1,020
386
3,433
401
473
1.018
479
393
223
4,512
5,738
1,431
14,903
7,000
3,361
3,633
2,728
13,363
4,804
1,817
81.909
632
170
719
2,300
13,425
8,743
575
375
900
1,862
1,695
1,033
8,838
'4,010
7,221
4,432
42,201
1 i,I06
9,831
4,570
10,245
4,402
31,042
28,757 116,933
31,735
32,595
159,069
53,850
56,816 279,523
53,125
o >,o(5»;
315.975
1,(5 12
882
10.601
made
up more
largely
one year
the interior stocks. We reach,
therefore, a safer conclusion through a comparative statement
like the following. In reply to frequent
inquiries we will add
that these figures, of course, do not include overland
receipts or
Southern consumption; they are simply a statement of the
weekly movement from the plantations of that part of the crop
which finally reaches the market through the
out-ports.
RECEIPTS FROM PLANTATIONS.
136.470
Week
ending—
19,000
Nov. 20
3
Dec.
10
163,000
4
17
12,250
44
24
38,750
78,000
18,000
56,750
91,000
35,000
44
31
Jan.
358,000
5,100
2,053
2,167
times misleading, as they are
than another, at the expense of
123,000
58,500
316,250
15,433
Receipts from the Plantations.—The following table is
prepared for the purpose of indicating the actual movement each
week from the plantations.
Receipts at the outports are some¬
629,000
915,791
2,182,377 2,151,614 2,352,261
153,000
1,812
The above totals show that the old interior stocks have de¬
creased during the week 5,251 bales, and are to-night 33,321
bales less than at the same period last year. The
receipts at
the same towns have been 1,408 bales more than the same week
last year.
1%
London stock
Total East
395,000
11,878
12,629 122,347
7,250
Total continental ports....
India cotton attoat for Europe.
Amer’u cotton attoat for Eur’pe
new
Stock.
....
7
44
14
44
21
44
23
Receipts at the Ports.
’78-’79. ’79-80.
Stock at Interior Ports
80-’8l. ’TS-’TQ.i’TO-’SO
184,625 249.152 205,192
220.748 210,167 218,341
220.291 234,870 243,137
204,382 218.907 23S.49!)
199,931 207,601 257.980
143.155 154.300 190,435
121,091 149,480 110,735
113,013 129,489 129,604
143,018 108.280 133.879
107,097 137,191 125 070
171,608 11?, 383 147,129
Ilfc'pts from PlanVns.
’80-’81. ’78-’7P.
79-,80.r80-’81.
205,912 .204,183 247,911 202,040
!
230.230 287,109 243,805 251,116.1239,093 219,295
259.129 |317,468 205,27,. 243,140 205,235 259,543
230.957 343,503 294,224 226,710! 2 44,942 267,438
294.231 304,920 310,015 213.305 229.024 253.771
231,631 355,943 321,225 130,50.-4145.323 207,645
294.337j210.777
253,047 319,859.300,509 93,104
j 143,402 90,019
233,230 352.3.s3j277,359 93,202 13-.013' 106,454
213.585 358.074 274,293 133,937 173.971 ]135.813
220,935 361,830 2 73,505 109,447'140 997 121,342
2,302,002 2,182,377 2,151,644 2,352,261
Feb.
2,722,476 2,485,213 2,467,894 2,710,261
7^d.
5 sod.
6'hgd.
6is.l.
The above statement shows—
1. That the total receipts from the plantations since Sept. 1 in
1880-81 were 4,407,001 bales; in 1870-80 were 4,322,192 bales; in
1878-70 were 3,777,302 bales.
*
2. That, although the receipts at the oat-ports the past week
“
4
11
214,117
357,910*282.489] 104,790
108,399 156,033
150.841 119.854 133.723 190 705 315 975 279.523 127.489 ! 07 913 130.75
The above figures indicate an increase in the cotton in
sight
to-night of 237,233 bales as compared with the same date of 1880,
an increase of 254,582
bales as compared with 1879 and an in¬
were 133,723 bales, the actual movement from
crease of 12,215 bales as
compared with 1878.
plantations was
only 130,757 bales, the balance being taken from tlie stocks at the
In the preceding visible supply table we have heretofore
only interior ports. Last year the receipts from the plantations for
included the interior stocks at the seven original interior towns.
the same week were 107,913 bales and for 1870 they were 127,489
As we did not have the record of the new interior towns for the
four years, we could not make a
comparison in any other way.
That difficulty no longer exists, and we therefore make the fol¬
lowing comparison, which includes
the stocks at the nineteen
towns given weekly in our table of interior stocks instead of
only
the old
seven
towns.
We shall continue this double statement for
time, but finally shall simply substitute the nineteen
the seven towns in the preceding table
a
A mcncan—
Liverpool stock....
Continental stocks.
American attoat to J
United States stock.
es
..
..
..
I..
..
East Indian, Brazil, die.—
1831.
1880.
515.000
363,000
107,000
508,080
994,391
313,975
12 4,000
630,000
842,477
279.523
28,000
9,000
1879.
335,000
for
190,765
1878.
395,000
257,000
629,000
915,791
233,103
23,000
19,000
160,000
667,000
v
:owns
346,873
..2,419,009 2,332,446 2,222,638 2,443.894
...
...
...
..
..
..
153,000
117,000
36,950
23,419
123,000
58.51 0
83,109
78,000
33,000
37,028
18,000
12,250
56,750
91,000
35,000
420.414
302,866
316.250
358.000
50,800
49.014
131,000
38,750
163,000
..2,419,000 2,332,446 2,222,638 2,448,894
2,635,312 2,538,883 2,806,894
The
imports into Continental ports this week have been
bales.
64^400
These
figures indicate an increase in the cotton m sight toRightof 204,102 bales as compared with the same date of 1880, an
increase of 300,520 bales as compared with the
corresponding date
of 1879 and an increase of
32,520 bales as compared with 1S7S.
At
and
Interior Ports the movement—that is the
receipts
shipments for the week, and stocks to-night, and for the
•corresponding week of 1880—is set out in detail in the following
the
^statement.
bales.
Weather Reports
rains
over
a
Telegraph.—There have been further
by
considerable
and field work has been
portion of the South the past week,
largely interrupted.
Galveston, Texas.—It has rained hard on three days the past
week, the rainfall reaching two inches and fifty-two hundredths.
Plowing is hindered by the wet weather. Average thermom¬
eter 50, highest GS and lowest 40.
Indianola, Texas.—It has rained hard on four days the past
week, the rainfall reaching one inch and eighty-eight hundredths.
Very little farm work is possible. The thermometer has ranged
from 46 to 72, averaging 58.
Corsicana, Texas.—It has rained hard on three days the past
week, the rainfall reaching two inches and forty-three hun¬
dredths.
Tbe roads
impassable and work is suspended.
Average thermometer 40, highest 05 and lowest 34.
Dallas, Texas.—It has rained tremendously on three days
the past week, the rainfall reaching three inches- and sixty hun¬
dredths. Average thermometer 50, highest 65 and lowest 34.
Some plowing has been done in the uplands, but it has now ceased
Brenham, Texas.—It has rained hard on three days the past
week, the rainfall reaching three inches. The thermometer has
ranged from 42 to 66, averaging 51. Some work has been done
on
sandy lands, but is now suspended everywhere.
Waco, Texas.—It has rained hard on three days the past
week, the rainfall reaching two inches and fifty hundredths.
Very little farm work has been done. Average thermomete 4$
highest 65 and lowest 40.
are
,
THE
lib
New Orleans,
CHRONICLE.
[Tot- XXXII,
in his reckless way, he starts with the*
proposition that “ either the Chronicle or the National Ex¬
change has published figures as facts, knowing them to be
“guesses.”
“The National Exchange,” so-called, appar¬
ently permits him to involve them all in the assertion, for
he lifts himself up into notice by signing his manifesto
with their name.
Now, any man who has brain enough
Louisiana.—Telegram not received.
so
for that purpose,
Shreveport, Louisiana.—Telegram not received.
Vicksburg, Mississippi.—Telegram not received.
Columbus, Mississippi.—It has rained on six days the past
week, the rainfall reaching three inches and twenty-three hun¬
dredths. We are having too much rain. The thermometer has
ranged from 40 to 02, averaging 54.
Little Rock, Arkansas.—The past week has been exceedingly
inclement, with rain 8n Saturday, Sunday, Monday, Tuesday and to fill a mustard seed, is certain that such a statement is
Thursday, the rainfall reaching two inches and twenty-eight
utterly false if intended to be applied to the Chronicle. We
hundredths. The wind has changed to-day to northwest and it
know that, like others, we make mistakes and a good many of
is now snowing. Avtrage thermometer 43, highest 50 and
them sometimes—they are a necessary incident to such a work
owest 33.
,
Nashville, Tennessee.—It has rained on three days the past
week, the rainfall reaching one inch and thirty-six hundredths.
The thermometer ranged from 20 to 05, averaging 45.
Memphis, Tennessee.—It has rained on five days the past
week, the rainfall reaching two inches and forty-one hundredths.
There is a steady rain to-day. Wind-storms on Saturday and
as
ours—but
when
we
brought to
discovered.
A
our
man
work and claims
arrogance
court
scrutiny! gladly acknowledge
errors
notice, and openly correct them as soon as
who has much to do with such statistical
perfection for it, simply displays the natural
of ignorance.
error we at times fall into, and
Sunday nights caused serious loss. Picking hence must be
Average thermometer 47, highest 58 and lowest 31.
which it is beyond our power always to guard against. We
Mobile, Alabama.—It has rained severely on two days and
employ a person by the name of Henry Gr. Hester in New
has been showery on three days the past week. The rainfall
Orleans to send us weekly and monthly cotton reports by tele¬
has reached four inches and eighty-two hundredths. We have
had an unusually severe storm this week. Average thermometer graph. cOn the first of each month we receive from him in
57, highest 39 and lowest 07. The rainfall for January was seven that way for our overland movement the net receipts and
inches and thirty-seven hundredths.
exports at that point. We notice however that the figures
Montgomery, Alabama.—The early part of the past week thus furnished us of late months do not agree
in either item
was clear and pleasant, but the last five days have been rainy
with the figures published in what is called the National Over¬
and stormy, the rainfall reaching three inches and twenty-two
What shall we infer from this?
Who
hundredths
It has been raining severely since last night, pre¬ land Statement.
venting all field work. The thermometer has ranged from 37 to “guesses” under such circumstances? Surely Mr. Hester
09, averaging 52.
Selma, Alabama.—It has rained on six days the past week ought to know what his own figures are. Or if it is really
and the roads are nearly impassable.
claimed that here is an error in the Chronicle, it certainly is
Madison, Florida—It has rained on two da.ys the early part
not our “guess” for we publish the figures as telegraphed us.
of the past week; the latter part has been clear and pleasant.
The days are warm, but the nights are cold. Average ther¬
We have another case in point.
In Cincinnati we have
mometer 53, highest 00 and lowest 40.
Macon, Georgia.—It has xained on four days the past week, employed one single agent ever since we first issued a crop
and it is now stormy.
The roads are again very rough, and in report, to collect for us there the weekly cotton movement over
some instances impassable.
The farmers are from two to three
weeks later than last year in preparing their lands. Average railroads and river. Three months ago that person wTas taken
thermometer 45, highest 08 ana lowest 20.
sick and subsequently died. In the meantime, and without our
Columbus, Georgia.—The earlier part of the past week was
clear and pleasant, but the later part it has rained severely two knowing anything about these facts, his son undertook the
days, the rainfall reaching five inches and twenty hundredths. same work. Now it is possible that the son has got matters a
Average thermometer 55, highest 07 and lowest 35.
Savannah, Georgia.—It has rained on four days the past little mixed; that is to say, being unused to the work, that he has
week, and the balance has been pleasant. The rainfall reacned put down to one route what ought to be credited to another.
seventy-eight hundredths of an inch. Average thermometer 50,
But even if this were so, it would be wholly immaterial in
highest 70 and lowest 31.
Augusta, Georgia.—It rained heavily on four days the result, for the total of all his figures is in any event correct and
earlier part of the past week, but the latter portion has been
clear and pleasant. The rainfall reached two inches aDd ten corresponds with the total movement through that city. So,
hundredths. Planters are sending their crop to market freely. if there is a
discrepancy here, it is one of routes only, and has
The thermometer has averaged 48, ranging from 27 to 69.
Charleston, South Carolina.—It has rained on two days the caused, and could cause, no material varia’ion in the gross or
past week, the rainfall reaching ninety-one hundredths of an net statement. Of course, as soon as our attention was called to
inch. The thermometer has ranged from 31 to 71, averaging 49.
it, we took measures to revise the movement, and shall soon know
New Orleans and tiis Chronicle Once More.—Our friend
Let
us
illustrate the kind of
nominat
New Orleans who has lately grown so nervous over
in
mistakes of the Chronicle, has this
Heretofore he has been
we
suppose
the
week changed his base.
willing to take us at long range ; but
he finds his little gun did not carry as far as
he
the truth.
This la3t incident discloses
paring these figures.
railroad returns made
one
feature of
our
plan for
pre¬
never depended solely upon
by them to us, and for substantial
We have
reasons, which would be appreciated were it proper for us to
to bag his game, he brings his weapon nearer. In
state them.
At the end of the year, however, and at times dur¬
fact, this time he falls astride of the Journal of Commerce,
ing its progress, we also receive reports direct from the roads.
not more than a stone’s throw off, and fires.
It would be much cheaper and easier (for we think it will be
Properly enough, the first victim of his indiscretion is the
admitted that we have as ready access to railroads and their
Census Bureau. Mr. Atkinson’s report on Southern Consump¬
records as any one in the land) to om:t the greater work. But in
tion unfortunately disagrees with that individual’s “ returns
the interest of accuracy, we have adopted our present plan,,
from more than one Southern State
ergo the Census report
and after the experience we have had, we do not believe any
is demolished.
Pardon a universal incredulity, for to the
expected,
so,
Mr.
general public such a syllogism is plainly defective.
Atkinson has as yet only issued a preliminary report. It will
undoubtedly be most thoroughly revised and, not unlikely, be
changed somewhat. But when he does finally determine the
result, it will be unquestioned by the intelligence of the country
and not be tested by either our or “your returns from more
than one Southern State” Would not a little more modesty
becoming under the circumstances ?
this individual’s main effort is to reach the Chronicle ;
have been
But
other
can
be effective.
The real fact is, that there is,
and has been, but small difference
and net overland movement this year between the
and the New Orleans statement, except in the differ¬
in the gross
Chronicle
the
manner
The chief disagreement is in
say the time) of including the
We follow our old plan of giving the full
preparation used.
(or we might better
ent modes of
St. Louis cotton.
shipments from St. Louis up to the close of the month. If any
reader will look at one of the newspapers published in that city,
or
at the
CHRONICLE.
THE
12J 1881.]
February
189
These statements would indicate that the
New York Cotton Exchange table of St. Louis ship¬
consumption of
that our total is correct, and yet last month Europe last month was 121,000 bales per week, or 1,000 bales
(January 1) it was 26,000 bales more than the New Orleans per week more than in the previous month. Furthermore,
statement; as we write we have not seen the details of this according to the above, spinners’ stocks on the first of February
month’s figures, but presume the difference is about the same. were less in Great Britain, and only 18,000 bales more for the
At the close of the season, however, the New Orleans statement whole of Europe than at the same date last year.
ments, he will see
of
a
very
original but peculiar
way
and
we
we
of recording that tity, but the quality, though improving, is not
either
Ellison’s First
and “ good” Ooinrawuttee will evidently be scarce until the
conies forward in February, while parcels of stainless Hingenghat are difticult to obtain.
Some samples of new Bhownuggcr Dhollerah have already come for¬
ward of satisfactory quality, which speaks well for the bulk, and from
all accounts the supply of Dhollerah
will be large this com¬
time to pursue this subject further,
event trouble our readers with it again.
January Annual Cotton Review.—In
of
some quan¬
very satisfactory in
Jerry crop
have not space or
shall not in any
:
Hingengliat and Ooinrawuttee arc now both coming in in
case,
portion of the movement.
But
We draw no Bombay, January 1, state
small difference for local consumption.
Inference from this
Bombay Cotton Crop.—Messrs Wallace & Co., under date of
and the two will agree, with the exception
will have included all,
editorial columns will be found
descriptions
ing seasou, and will come earlier than usual to market.
From Broach, not quite such glowing reports are reaching us, but,
without doubt, the crop will again he a large one this season.
According to a Government report lately issued, the area under cot¬
ton in the Berars (the Ooinrawuttee districts) this season is less than
that of last by 228,923 acres, attributable partly to a late and unfavor¬
our
to-day Mr. Ellison’s annual
cotton review*
European Cotton Consumption
to
Ferruary 1.—We have
able
sowing season, in consequence of which many cotton fields were
ploughed over and re-sown with other crops, whilo the sowing of others
was delayed so long that it was considered safer to put down grain than
cotton ; but the report goes on to say that, although there is this de¬
crease in the cultivation of Ooinrawuttee descriptions this year as com¬
pared with last, yet the total production is expected to be not much less
by
figures brought down to
cable this week Mr. Ellison’s cotton
They were issued in Liverpool on Wednesday,
the 9th instant, and show—according to this authority—that, than that of last year.
|V (^Accounts
from the Southern Maliratta conn try, regarding the 8. G.
Dharwar and Comptah crops, continue satisfactory, but the cultivation
notwithstanding the large total reached for the past three or the former is
becoming less yearly, more attention beiug now paid to
February first.
>
the growth
months,
in European consumption is still in
First, however, we give the talyngs in actual bales
and the pounds since October 1st, with the average weights.
progress.
Continent.
Great Britain.
From Oct. 1 to Feb. 1.
Takings by spinners..bales.
Average weight of bales ....
Takings in pounds
851,350
454
441
1,940,780
448
494,601,220
375,445,350
870,016,570
weight of the deliveries
in Great Britain is
given at 454 lbs. now, against 453 lbs. last
month; the Continental figures are unchanged in that particu¬
consumption has been as follows. We repeat the
last month, which gives (in bales of 400 lbs. each) the
The
lar.
table of
•takings, consumption and spinners’ stock at close of each
month this
season
and last
Bales
season.
1880-81.
Oct. 1 to Feb. 1.
of 400 lbs. each.
Conti¬
Britain
nent.
Great
Conti¬
nent.
Spinners’ stock Oct 1.
Takings in October...
27,
280,
137,
143,
164,
423,
27,
233,
94,
157,
121,
390,
Total supply
Consumption iuOot..
307,
267,
280,
587,
477,
260,
252,
251.
210,
511,
452,
Spinners’ stock Nov. 1
Takings in November
40,
7o,
316,
239,
110,
555,
8,
296,
356,
269,
309,
665,
214,
483,
304,
248,
Total
supply
Consumption in Nov
.
Spinners’ stock Doc. 1
Takings in December.
Total.
200,
51,
*
190,
241,
230,
Total.
59,
486,
545,
478,
87,
95,
371,
315,
182,
686,
56,
336,
11,
322,
67,
658,
458,
868,
600,
392,
284,
333,
234,
725,
108,
329,
99,
283,
207,
Dec..
335,
410,
265.
^Spinners’ stock Jan. 3
Takings in January..
123,
145,
268,
269,
241,
510,
392,
270,
386,
437,
283,
819,
214,
778,
484,
382,
Consumption in Jan..
260,
543,
Spinners’ stock Feb. 1
122,
172,
294,
154.
122,
276,
Total supply
Consumption
Total
JLV
m
supply
UICCIXU
HAVU
uuv
AUfVJW
i
t
J
up
Oct. 1 to Feb. 1.
*
Conti¬
Britain
nent.
27,
Spinners’ stock Oct.*l.
1,236,
Takings to Feb. 1
Supply
Consumption
Spinners’ stock Feb. 1.
1,263.
1,141,
A
w,
137,
938,
172,
1880.
458,478
968,31Novemb’i 1,006,501
Decemb’r L,020,802
571,701
January
Sept’mb’r
October..
.
Total.
164,
2,174,
2,338,
2,044,
Conti¬
Britain
nent.
294,
1,221,
1,067,
154,
port
Jan. 31...
94,
952,
1830-81.
Total.
Tot Jn.31
Feb
121,
2,146,
1,046,
924,
2,267,
1,991,
122,
276,
.
1....
44
2....
44
3....
4....
5....
6....
8.
44
7....
20,763
23,485
18,721
17,049
27,674
8....
00s omitted.
it
10....
<«
11....
In December
In
January
53,0
53,0
53,5
56.0
62,0
50,0
51,0
63,0
52,0
63,0
52,0
106,0
113,0
115,0
115,0
22,962
18,075
21,769
27,938
26,031
44
9....
120,0
120,0
120,0
121,0
893,664
618,727
236,868
675,260
901,392
787,769
500,680
1875.
169,077
610*316
740*116
821,177
637,067
7534
7352
7103
7632
7105
1879-80.
1878-79.
1877-78.
1876-77.
1875-76.
4,025,800 3,768,011 3,269,740 3,089,246 3,101,969 2,977.753
44
44
53,0
779.237
98,491
578,533
822,493
900,119
689,610
1876.
to Jan. 31 the receipts at the
ports this year were 252,515 bales more than in 1879-80 and
750,786 bales more than at the same time in 1878-79. By adding
to the above totals to Jan. 31 the daily receipts since that time, we
shall be able to reach an exact comparison of the movement for
44
67,0
67,0
67,0
67,5
288,848
699,264
1877.
This statement shows that up
Weekly Consumption.
In October
In November
333,643
888,492
942,272
956,464
647,140
1878.
the different years.
Great
27,
1,194,
1879.
Beyinning September 1.
of tot.
44
1,075,
903,
Tear
Monthly
Receipts.
1879-80.
1880-81.
Great
comparison of the port movement by weeks is not accurate,
the weeks in different years do not end on the same day of the
month. We have consequently added to our other standing
tables a daily and monthly statement, that the reader may
constantly have before him the data for seeing the exact relative
movement for the years named.
The movement each month
since September 1 has been as follows:
as
612,
to this time for the two years.
Bales of 400 lbs. each.
000s omitted.
Crop Movement.—
4,025,800 3,763,011 3,269,740 3,089,246 3,101,969 2,977,753
dug together the foregoing totals and add the average weekly
onsumption
Bagging.—Bagging has shown bat little
improvement since our last. Buyers are still indisposed to take
any large parcels, and the only transactions are for present
wants.
The sales are some 500 rolls, for which full figures
were paid.
Holders are not anxious to force goods, and con¬
tinue to quote 9%c. for 1% lbs., 9%c. for 2 lbs. andj 10%@llc.
for standard grades. Batts are also quiet. There are but few
inquiries, and only small transactions are making. The offer¬
ings are small, and as no lots have come in during the week,
holders are steady, and we continue to quote 2 7-16@2^c. for
paper grades, while bagging qualities are held at
2%c.
and
518,
V
V
probably be larger this year than it was last, but by liow much depends
chiell/upon the, out-turn of the Dhollerah crops, about which it Is too
early jet lo ►peak with any confidence.
A
Britain
000s omitted.
for shipment to Europe,
local consumption, will
Comparative Port Receipts and Daily
1879-80.
Great
On the whole, the quantity of Surats available
after taking into consideration the increasing
Jute Butts
Total.
1,089,430
It will be noticed that the average
Coinpiah than of old.
S.
36,304
22,580
20,354
15,208
15,582
21,929
S.
S.
23,729
38,564
23,999
23,378
25,634
24,175
34,438
S.
12,915
18,057
34,476
19,174
11,286
28,495
19,795
S.
23,468
22,487
28,011
.
20,601
20,117
25,716
17,084
19,076
35,541
S.
20,000
28,732
22,343
25,353
8.
16,653
17,146
22,806
19,637
25,768
15,706
20,332
26,011
15,100
S.
26,965
8.
14,452
20,184
19,055
4,250,267 3,940,363 3,519,173 3,296,944 3,308,277 3,180,381
Percentage of total
81 93
75-38
75-87
7913
78-78
p>t rec’uts Feb. 11
Total
THE CHRONICLE
190
(VOL XXXII.
The Exports of Cotton from New York this week show a
receipts since Sept. 1 up to
decrease, as compared with last week, the total reaching 5.503
to-night are now 309,904 bales more than they were to the same
day of the month in 1880 and 731,094 bales more than they were bales, against 8.793 bales last week. Below we give our usual
to the same day of the month in 1879.
We add to the table table showing the exports of cotton from New York, and their
the percentages of total port receipts which had been received to
direction, for each of the last four weeks; also the total exports
February 11 in each of the years named.
and direction since Sept. 1,1889, and in the last column the total
India Cotton Movement from all Ports.—The figures which for the same
period of the previous year:
are now collected for us, and forwarded by cable each Friday, of
Exports of Cotton (bales) from New York since Sept. 1.1880.
the shipments from Calcutta, Madras, Tuticorin, Carwar, &c.,
Same
Week ending•liable us, in connection with our previously-received report from
Total
period
since
Feb.
Feb.
Jan.
Jan.
Bombay, to furnish our readers with a full and complete India
Exported to—
prevVus
9.
2.
26.
19.
Sept. 1. year.
movement for each week. We first give the Bombay statement
for the week and year, bringing the figures down to Feb. 10.
Liverpool.... ..r.......... 5,158 4.312 7,874 3,800 185,893 197,460
This statement shows that the
Year Or eat
BriVn.
Conti¬
Total.
nent
Great
Conti¬
Britain
nent.
1878
88,000
64,000
45.000
95,000
61,000
38,000
2i ,000
67,000
27.000
1,000 39,000 40,000
5,000 5,000 10,000
7,000
7,000
3,000 5,606 8.000
1881
1880
1879
26.000
24.000
28.000
Since
Jan. 1.
This
Week.
Total.
26,000
139,000
27.000
116,000
87,000
18,000
27,000
172,750
to show a
decrease compared with last year in the week’s receipts of 1,000
bales, and an increase in shipments of 30,000 bales, and the
shipments since January 1 show an increase of 24,000 bales.
According to the foregoing Bombay appears
Madras, Tuticorin, Carwar, &c., for
has been as follows.
The movement at Calcutta,
the
same
week and years
CALCUTTA, MADRAS,
1881..
1880
1879
1878
Great
Britain.
Conti¬
11,000
2,000
13,000
2,606
4,000
6.000
3,000
nent.
3,000
Contir
Great
Britain.
Total.
89,000
14.000
22,000
26,000
36,000
6,000
8,000
15,000
show that the movement from
the ports other than Bombay is 13,000 bales more than for the
same week last year.
For the whole of India, therefore, the total
shipments this week and since January 1,1881, and for the cor¬
The above totals for this week
responding weeks and periods of the two previous years, are as
follows.
EXPORTS TO EUROPE FROM ALL
to
alt Europe
from—
Bombay
All other p’rts.
Total
40,000
13,000
88,000
89,000
10,000
53.000
177,000
10,000
This last statement
affords
years up
to date, at all
Since
This
week.
Jan. 1.
14,000
7,000
6,000
45,000
22,000
78,000
13,000
67,000
64,000
interesting comparison of the
a very
ending Feb. 10, and for the three
total movement for the week
India ports.
Alexandria Receipts and Shipments.—Through arrangements
we have made with Messrs. Davies, Benachi & Co., of Liverpool
and Alexandria, we now receive a weekly cable of the movements
of cotton at Alexandria, Egypt. The following are the receipts
and
shipments for the past week
previous two years.
of the
Alexandria, Egypt,
Receipts (cantars*)—
This week....
Birme Sept. 1
j
i
Experts (tuples)—
To Liverr ool
Since
Sept. 1.
50.000
75,000
3,050.000
1
Th is
week.
1,425,000
This
week.
Since
Sept. 1.
5,000 165,000 i 14,000 219,500
10,416
To Continent
Total Enrope
A cantar is
1879.
1880.
70,000
2,360,000
This
week.
*
and for the coi responding week
1881.
Feb. 10.
Since
Sept.
1.
10,000 121,000
67,498
| 5,488
125,757
232,498
!l9,458
345.257 13.000 173.5<K>
3,000
52,500
15,416 bales.
Manchester Market.—Our report received from Manchester
to-night states that prices for twists and shirtings are unchanged,
but that the market is inactive.
We give the prices of to-day
elow, and leave previous weeks’ prices for comparison:
8 k* lbs.
Shir ting 8.
32s Cop.
Twist.
d.
d.
s.
9*s@ 9'*, 6
7
95p®10
Dec 10
44
17
44
21
44
31
Jan. 7
44
14
44
21
44
28
7
7
9^3/10
978@103; 7
9-43)10 hi 7
9%5>10L> 0
93e3»10^ 6
Feb. 4
93e®10i4d
44
11
1879-80.
1880-81.
•-
9^@10
oasftlOVO
8,395
Havre
Other French ports
281
429
200
530
24,935
17,405
Total French
281
429
200
530
24,935
17,405
642
21,470
84
15,352
447
5,352
18,910
12,280
2,124
1,173
42,174
33,314
460
953
3,200
1,413
3,200
@8
@8
@8
@8
d.
0
Iks
Iks
1*2
lk2@S
4k>
d.
9
0
0
0
0
s.
@8
3
97sa>8
278
27s
97fi®8
27r
97s®8
97e®S
2"m
CotV n
Mid.
Up ds
d.
32s Cop.
lwist.
d.
d.
lO^ ®10«8
'3>1078
®107b
«llie
63;
@1078
10^8 ® 103;
63;
10ks 2>107b
6*8
6«i« I0k2 ®1078
«“ie IOLj @11
69 ic 11
0113;
07io lUe @113,
6^8
10
10
10
r.
8 >4 lbs.
CotVn
Mid.
Shirtings.
Ujflds
d.
s.
6 108a@8
6 9 @8
6 9
@8
@8
6 9
7 0 @8
7
1Lj@8
7 3 @8
7 3 -@8
3 @8
7
7 6 ^8
d.
d.
lk2
0
0
0
3
3,800 194,321 204,06G
V
Bremen and Hanover
....
Hamburg
Other ports
321
Total to North. Europe
203
1,128
53
599
122
374
1,849
......
.
.
.
.
.
.
203
Spain, Op’rto, Gibralt’r,&c
All other
Total Spain, &c
5.963
Grand Total
7.090
New York.
Receipts
from—
8.798
5.503 262.843 257,991
New York,
This
week.
N. Orl’ans
Texas....
Savannah
Since
|£ep(. 1.
This
week.
1,534
4,028
5,304 181,136
937
18.883
G1316
l>lai6
67e
4^2
718
6
6
6
6
7
7116
7i4
This
week.
i',338
Since
This
Since
Sept.l. week. Sept. 1.
1,944
966
38,986
1,000
14,684
437
924
73,362
592
18,028
19,680
2,075
...
Virginia..
4,365
5,054 111,277
30,196
2,173 184.740
North, pts
Tenn.. 4c.
3,532
.
Since
Sept. 1.
92,950
67,635
3,949
Mobile
Florida.
S.Car’lina
N.Car’lina
|
and since
Baltimore.
| Philadelphia.
Boston.
16,653
3,045
4,633
3,151
45*1*98
86,413
"968 25,834
50
50
1
This year. 20.072 765,253 13,350 247,930
2,306 47,456
3,919 161,793
Last year 24.407 8* 2,156 10,073 311,874
2,750 68,607
l,876|l30,221
4,600
Shipping
86,549
1,805
91,283
News.—The exports of
80
cotton from the United
past week, as per latest mail returns, have reached
131,658 bales. So far as the Southern ports are concerned, these
are the same exports reported by telegraph, and published in
the Chronicle last Friday.
With regard to New York, W6
include the manifests of all vessels cleared up to Wednesday
States the
night of this week.
Total bales.
Liverpool, per steamers Baltic, 1,412
Parthia, 1,306
nic, 1.082
New York—To
Britan¬
3,800
530
To Havre, per steamers Olaf, 97
Fcrd de Lessors, 433
To Bremen, per steamer Douau, 642
To Hamburg, per steamer Lessing, 84
.
To Antwerp, per steamers De Ruyter, 117
Waesland, 330
New Orleans—To Liverpool, per steamers Architect, 5,070
642
84
447
Alava, 4,250
Cuban, 2,902
Montreal, 6,436
Teu¬
tonia, 4,919
Vanguard, 3,002
per
ships Adorua,
5,357
Ella 8. Thayer, 2,860
per barks Diamant,
4,228
Lady Rowena, 4,491
Persia, 5,012
Queen
of Nations, 5,409
Timour, 4,647
To Havre, per ship Palme, 3,929
per bark Kathinka.
4,596
To Bremen, per steamer Nurnberg, 4,438
per ship Gustav
& Oscar, 4,739
To Genoa, per bark Grad 8ery, 1,920
To Malaga, per bark Aurora, 1,813
To Vera Cruz, per steamers Gity of Merida, 672
400
Mobile—To Liverpool, per ship Her Majesty, 4,460
Charleston—To Liverpool, per bark
98 lbs.
This statement shows that the receipts for the week ending
Feb. 10 were 70,090 cantars and the shipments to all Europe
were
4,812
Foreign..
1879.
Since
Jan. 1.
This
week.
Since
Jan. 1.
This
week.
INDIA.
1880.
1881.
Shipments
5,308
Boston, Philadelphia and Baltimore for the past week,
September 1, 1880.
Total.
nent.
53.000
8,000
14,000
11,000
521
The Following are the Receipts of Cotton at
Shipments since January 1.
Shipments this week.
Year.
KURRACHEE.
TUTICORIN. CARWAR, RANGOON AND
500
Total to Great Britain
Receipts.
Shipments since Jan. 1.
Shipments this week.
6,600
8,428
150
Other British ports
SHIPMENTS FOR FOUR YEARS.
MOMBAY RECEIPTS AND
58,673
8,525
9,177
1,920
1,813
Whitney,
1,072
4,460
2,009
5,200
1,400
Gbdovia, 2,009
To Sebastopol, per steamer Imbros, 5,200
To Barcelona, per bark Cristine, 1,400
Savannah—To Liverpool, per steamer Juana,
Mercur, 2,510
^
2,966—per bark
To Havre, per bark Fortuna, 1,650
To Bremen, per bark Mustang, 1,300
To Amsterdam, per snip Matilda, 3,494....per
1,800
barlr Ruth,
Liverpool, per ship Newman Hall, 5,178—per
Scott, 2,206
Ephialtes, 2,206
To Cork for orders, per bark Themis, 1,800.
To Bremen, per bark Liv, 860
Texas—To
To Hamburg, per bark Olinc, 72
To Vera Cruz, per steamer Whitney. 500
Wilmington—To Liverpool, per bark Israel,
5,470
1,650
1,300
5,294
barks
9,500
1,800
860
72
500
842
842
1,930
1,250
Norfolk—To Queenstown for orders, per bark Equator, 1,930.
Baltimore—To Liverpool, per steamer Bolivar, 1,259
Boston—To Liverpool, per steamers Massachusetts. 88
Bo¬
Olympus, 727
hemian, 458
Philadelphia—To Liverpool, per steamer Illinois (additional),
60
Total
The
form,
1,273
CO
107,550
particulars of these shipments, arranged in our
follows:
are as
usual
February
THE CHRONfCr E
12, 1881. J
Queens-
and
Iona
Ham- Amster- Sebas- and
and
Liver-
Mobile
Charleston.
Savannah..
Texas
1,300
932
1,650
1,800
5,200 1,400
1
5,294
13,720
842
•
1,930
1,259
1,273
1,930
Norfolk
Baltimore.
1,259
1,273
Boston
Pliiladelp’a
60
Feb
Feb.-Mar.
60
..
3.730 10,705 12,135
87,442
5,200
5,741
Jucluded in the above total are, from New Orleans, 1,920 bales to
and 1,072 bales to Vera Cruz; from Texas, 500 bales to Vera
give all news received to datq of disasters to vessels
carrying cotton from United States ports, etc.:
we
Bohemian, str. (Br.), Grundy, from Boston Jan. 27 for Liverpool, was
wrecked in Dunlough Bay Feb. 6. The Bohemian went ashore on
the Irish coast during a very heavy storm. She luid a general
cargo, including 458 bales cotton.
Gardenia, str. (Br.), Iliff, at Bremen from Savannah, before reported,
which was ashore at Wyk Schleswig, jettisoned part of her cargo.
Marathon, sir., from Galveston via Norfolk for Bremen, arrived at
Falmouth Feb. 7 short of coal. She had received slight damage.
Prinz Friedrich Carl, str. (Ger ), from New Orleans for Reval, before
reported ashore at the latter port, up to Jan. 24 had discharged
about 3,600 bales of cotton. The remainder, 1,100 bales, it was
and head seas and shipped much water.
West Stanley, str. (Br.), from Galveston to Reval,
ashore at Oesel, has been abandoned leaking.
before reported
Her crew was
saved; also part of her cargo.
Adrian, ship (Br.), from Galveston for Liverpool, loading outside the
Bar at the former port, and having on board 2,900 bales of cotton,
dragged her anchors during a heavy sea Feb. 6, grounded on the
bar and bilged.
be saved.
The
crew were
saved.
The cargo will probably
Nunquam Dormio, ship, from Savannah for Liverpool, before reported,
was still landing cotton 3d inst. The steamer Flamborough, which
arrived at New York Feb. 7, brought 826 bales.
Cotton
freights the past week have been as follows:
Mon.
Tuts.
Wednes.
Thurs.
Fri.
316® X4
316® *4
3ie® *4
3ie® *4
318® *4
Satur.
Liverpool, steam d. 3ie® *4
Do
sail...d. 316®732 316^732 316®732 3ie®732 316®732 316®732
b
Havre, steam
Do
sail
Bremen, steam,
Do
sail
c.
8
c.
12@s8
.c.
^@816
c.
7lfi® *2
l2®58
12®58
*2®916
716® *2
Hamburg, steam, d. !2®91S
Do
8ail...cf.
Amst’d’m, steam.c.
8ail...d.
Do
Baltic, steam
Do
sail
c
*2
58®1116
^8 ®*ll6
....
d.
•
•
•
*2® 58
*2®*^
*2® 5s
!2® ®8
30®916
*2®9i6 12®91<J
12®916
716® *2
716® *2
32®916
12®°16
UJ
*2
710® *0
12®916
1fl®916
*2
•
•
*2
Tfi
5e®Hi6 ®8®ll16 68®1116 58®1116
....
•
....
....
....
....
....
....
....
—
....
....
Liverpool.—By cable from Liverpool,
we
•
m
•
....
statement of the week’s sales,
....
....
have the following
stocks, &c., at that port:
Jan. 21.
Sales of the week
bales.
Sales American
Of which exporters took ....
Of which speculators took..
Actual export
'
Forwarded
Total stock—Estimated
Of which American—Estim’d
Total import of the week
Of whieh American
Amount .afloat
Of which American
*2® 50
l2®5g
Jan. 28.
Feb. 4.
48,000
52,000
40.000
41,500
6,200
5R000
40,500
4,200
810
730
3,300
5.300
11,000
560,000
5,500
2,200
7,100
7,600
470,000
487,000
9,200
473,000
352,000
60,000
51,000
508,000
437,000
461.000
347,000
38.500
25.500
420,000
149,000
118,000
492,000
430,000
Feb. 11.
55,000
45,000
4,600
1,710
6,700
19,000
663,000
515,000
183,000
154,000
373,000
327,000
\
61832
6^
June-July
Feb
Feb.-Mar..
638
6*%
.
d.
Delivery.
July-Aug...
May-June...
62132
69ie.
69,0
Apr.-May
.6*2
June-July
May-June
.61732
July-Aug.
Mar.-Apr...
Mar.-Apr...
6716
Feb.-Mar
638
Mav-June
-6818
67io
June-.Tuly
J uly-Aug
-618;t2
..
65»
..
Tuesday.
Mar.-Apr.
..
..
.6 <">8
Anr.-Mav
§i732
..
Mar.-Apr...
6*ie
■
Wednesday.
Feb
Feb.-Mar..
.
April-May
May-June
.
..
638
638
June-July
July-Aug
-61832
6"iq
Feb.-Mar
61!*
Mar.-Apr
-613.32
61532
Apr.-May
May-June
June-.July
Mar.-Apr..
69,8
■61932
June-July
.658
..
618^
..
658
..
.
6»ie
..
Thursday.
Feb.-Mar
6716
Mar.-Apr
6*2
Apr.-May
May-June
•
Julv-Aug
61110
...
6»8
..
Friday.
Feb.-Mar...
Mar.-Apr..
Apr.-May
..
.
613,32
May-June
61®32®718
June-Julv
.61*132®
July-Aug
.J
68,«
61832
62i32
65r
July-Aug—
Aug.-Sept..
6ll3t
.
BRE ADSTUPPS.
*
confidently hoped would be saved.
Scio, str. (Br.), from Galveston for Liverpool, before reported, which
put into Savannah with ballast tank leaking, was surveyed on the
3d and 8th insts., and it was decided that she should discharge
her cargo until the leak was reached. 800 bales of cotton had
been discharged on the 8th iust. and the leak not discovered.
Wearmouth, str. (Br.), Evans, from Charleston Dec. 21 for Sebastopol,
with cotton, arrived at Gibraltar Jan. 10, and the master reported
that on leaving Charleston hie steamer touched slightly on the bar at
the entrance of Charleston harbor; the sea at the time was smooth,
the pumps were frequently sounded, and findiugtlie vessel making
no water, proceeded on the voyage.
The steamer took in a supply
of coal at Gibraltar and proceeded on Jan. 11.
West Indian, str. (Br.), from Baltimore for Liverpool, arrived at Liver¬
pool Jan. 25, and reports having experienced heavy easterly gales
69i6®1733
Monday.
Mar.-Apr..
Below
6J332
..
3,213 131,658
Genoa
Cruz.
d.
—
Mar.-Apr—
Apr.-May
Total...
Delivery.
Apr.-May
May-June
4,490
,8,609
12,822
842
Wilmington
d.
Delivery.
Cork. Havre, bare/, dam, Ac. topol. Malaga. Total.
447
726
530
5,503
8,525 9,177
1,813 81,180
pool.
3,800
58 673
4,460
2,009
5,476
9,590
New York..
N. Orleans.
Saturday.
Barce-
Bremen
town
191
Friday, P. M., February 11, 1881.
The flour market has been somewhat
irregular, and, in import¬
particulars, the reverse of the previous few weeks. The
low grades have been comparatively neglected, and are lower.
The medium and better grades have met with a fair demand
ant
export, a3 well as an increased inquiry from the local deal¬
ers.
Some improvement in the means of local transportation
have enabled the latter to supply their wants, which, in manjr
for
To-day the market
had became urgent.
cases,
was
steady^
except for buckwheat flour.
The wheat market has been somewhat variable and
irregular,
the whole, shows more improvement, owing to a better
demand from the Continent, more favorable foreign advices
but,
on
generally, and reports of injury to fall-sown wheat by the
severity of the winter. Yesterday No. 2 red winter sold at
$117@$117% on the spot, $1 18%@1 18% for March and $119
@$119% for April and May ; and No. 1 white at $1 15(0)1 15% on
the spot and for February and March, and $1 15%@$1 15% for
April and Jlay. Also, No. 3 spring on the spot at $1 08(g)
$1 08%. To-day the market was a fraction dearer, with large
sales of No. 2 red at $1 18 on the spot for export and $1 19%
for April.
Indian corn has continued dull, and yet prices have shown &.
hardening tendency. The sales have included prime old
Western mixed at 57%<§)57%c., closing at 58c. asked; No. 2
Western white has sold at 58@58%c. The supply of new corn
from the South and New Jersey may be expected to increase
with the disappearance of ice from harbors. Yesterday the
regular grade of No. 2 mixed sold at 56 %c. on the spot, but
brought only 55%@55%c. for all February, 55@55%c. for March
and April and 54c. for May. To-day the market for futures
was dearer at 55%c. for March and 54%c. for May.
Rye has been fairly active at very full prices. Barley is in
moderate demand, and prices are pretty well supported for
prime qualities. *
Oats have been in better demand from the trade, and the
speculation was also active. Yesterday No. 2 mixed sold at 45c.
on the spot, 44c. for March, and 44%@44%e. for Apnl. To-day
the market was buoyant, No. 2 mixed selling at 54%c. for
March.
The tone of the Liverpool market for spots
and futures each day of the
ending Feb. 11, and the daily closing prices of spot cotton, have
week
been
as
Saturday Monday.
Spot.
Market,
12:30
p.m
?
\
Mid. Upl’ds
Mid. Orl’ns
Market.
5r.M.
Dull
and
easier.
Shade
easier.
6716
0716
69ic
C916
Tuesday.
Wednes.
Thursday.
Mod.
Mod.
Very dull.
63g
6 *2
inq.
freely
supplied.
638
6*2
Friday.
Steady.
inq.
freely
supplied.
63a
6 ^2
67] a
6°16
)
J
ales
4>ec.tfe exp.
Market, ?
.5 p.m.
7,000
8,000
6,000
8,000
8,000
8.000
500
500
500
500
500
1,000
\
are
Flat.
Steady.
Easier.
Steady.
Closed
stoady.
Quiet*
closing quotations:
Flour.
No. 2
Winter
superfine
Spring superfine
Spring wheat extras..
do XX and XXX...
Winter shipp’g extras.
do XX and XXX...
Patents
City shipping extras.
Southern, bakers’ and
South'll
ship’g extras.
Rye flour, superfine..
Corn meal—
Buckw.
Grain.
?
bbl. $3 00?* 3 50 j Wheat-
3 SO® 4 00 |
3 603- 3 83 (
4 25® 4 50
4 75® 6 50 |
4 40® 4 85
500® 650
6 50® 8 50
4 35® 5 50
5 50® 7 00
4 65® 5 35
No. 2 spring
Red winter
Red winter, No. 2
White
Corn—West, mixed
West. No. 2, now.
South.
yell’w.uew
South, white,new
Rye
Oats—Mixed..
State, 4-rowed..
114 ®1 17
112 ®123
1 17*2®! 18
110 ®1 16
53
®
58
5544®
55
53
55
98
43
45
1 10
90
87
82
55
State, 2-rowed..
10
30 Peas—Can’da,b.&f
15 Buckwheat....
Produce Exchange Weekly.”)
Receipts of flour and grain at
ending Feb. 5,1881:
for the week
White
5 30® 5 60 Barley—Canada W
2 CO® 3
3 25® 3
i9.,p. 100 lbs. 190® 2
(From the “ New TSork
Western, Ac
Brandy wine, Ac....
The actual sales of futures at Liverpool for the same week are given
These sales are on the basis of Uplands, Low Middling clause,
unless otherwise stated.
following
family brands
(futures.
below.
The
follows:
56
59
®103
®
46
®
49
®1 30
®1 05
®
95
*
95
®
®
'ft
5G
Western lake and river ports
THE CHRONICLE.
192
Chicago
....
136,207
107,350
125,966
...
875
...
^Cleveland...
Bt. Louis
Peoria
...
...
63,767
6,576
3,144
30,927
24.500
146.354
4,820
7,300
...
(56 lbs.)
683.883
33,650
177,407
10,217
(60 lbs.)
...
Milwaukee..
Toledo
^Detroit
bush.
bush.
bbls.
(196 lbs.)
53,041
44.756
At—
Com,
Wheat,
Flour,
Oats,
Barley,
Rye,
bush.
bush.
b}tsh.
(32 lbs.) (48 lbs.) (56 lbs )
417,342 70,626 17,491
S,300
34,500 56,880
In store at—
New York
Do. afloat (est.)
100.523
8,848
3,000
45,556
62,500
313,310
191,925
4,357
90,900
8,600
9.725
732.361 193,510
356,534 122,815
39,873
Duluth
..
.
Toledo
Detroit
29,996
8t. Louis
Boston
Toronto
inclu¬
Montreal
ports from Dec. 27 to Feb. 5,
Total receipts at same
sive, for four years :
1880.
1881.
1879.
1878.
Fiour
bble.
966,634
565,520
657,689
661,843
Wheat
Corn
Oats
bush.
4,395,941
8,018,125
3,358,013
1,760,142
255,886
5,261,427
12,212,928
2,040,039
799,141
290,440
7,834.540
7,813,836
2,080,810
890,895
370,687
6,941,069
5,799,041
2,204,055
1,160.801
327,412
17,778,107
20,613,975
18.990,768
16,432,378
Comparative receipts (crop movement) at same
for four years:
ports from
Barley
;
Bye
#n*ain
Total
....
Aug. 1 to Feb. 5, inclusive,
1880-81.
1879-80.
1878-79.
1877-78
3,764,271
3,482,045
3,535,532
63,557,430
53,893.458
8,651,890
63,923,404
47,881,231
18,941,790
7,932,671
3,113,126
1,327,030
50,426,360
40,898,657
14,615.612
7,649,661
2,354,229
Flour
.bbls.
4,702,766
Wheat
Corn
Oats
bush.
57,582,784
68,807,033
24.487.49S
15,473,294
Total grain....
the same
Comparative shipments of Hour and grain from
ports from Jan. 1 to Feb. 5, inclusive, for four years:
5
Wheat
1,015,026
384,925
654,587
629,227
bush.
1,905,358
1,157,282
2,661,390
3,-150,504
1,352,682
5,752,088
3,533,751
591,419
574.576
164,090
126,210
8,220,085
11,130,861
291,759
4,812,151
1,222,602
354,523
211,231
10,461,707
7,757,792
4,545,168
Corn
2,818,100
Oats
901,322
Barley
Bye
Totalffrain
....
Wheat
Corn
Oats
1880.
Week
Feb. 7.
1879.
Week
Feb. 8.
1878.
Week
Feb. 9.
bbls.
150,172
55,735
131,594
105,710
bush.
112,657
850,755
516,086
138,506
546,823
1,080,265
779,984
238,665
98,781
16,760
1,162,369
832,298
195,141
178,327
37,403
130,873
43,954
37,591
109,745
43,105
Barley
Bye
1,431,079
1,632,348
Total
Rail and lake shipments
Flour,
Week
the
1881.
Week,
Feb. 5.
Flour
bbls.
ending—
1,144,236
from Western lake and river ports for
Rail shipments
weeks ended:
1.631,013 2,405,538
from same ports for last four weeks:
Wheat,
Corn,
bush.
bush.
15...166,700
112,657
131,591
187,759
545,453
Tot., 4 wks.671,658
4 w’kfl’80..326.731
977,460
795,096
5... 150,172
29...184,758
22... 170,028
Feb.
Jan.
Jan.
Jan.
1877.
1878.
1879.
1880.
bbls.
Flour
Barley,
Oats,
850,755
847.489
742,992
703,377
Rye,
bush.
bush.
bush.
516,086
524,986
427,119
455,114
109,745
103,304
142,715
49,180
31,951
190,648
55,747
3,149,613 1,923,305
3,470,741 671,985
43,105
546,412 179,983
234,711 117,816
Receipts of flour and grain at seaboard ports for the week
«uded Feb. 5:
At—
New York
Boston
......
..
...
Portland
Montreal
..
.
...
Philadelphia..
Baltimore
New Orleans..
...
...
Total week..
Cor. week ’80.
Total
...
...
...
Flour,
Wheat,
Com,
Oats,
Barley,
Rye,
bbls.
bush.
bush.
bush.
bush.
bush.
147,180 107,950
246,676 48,525
1,250
5,600
8,100
9,350
84,000 73,000
228.200 15,500
148,898 64,438
46,750
30,028
16,604
500
869.904 318,763
842,643
317,810 1,246,907 187,146
83,304
53,644
186,568
46,250
117.955
38,583
2,325
81.450
5.192
148,500
265,000
17,610
44,415
13,681
114,875
239,761
113,094
receipts at
1,350
18,600
2,500
1,800
34,828
10,914
ports from Dec. 27 to Feb. 5, inclu¬
same
sive, for four years:
1879.
1878.
bbls.
1,457,764
1,070,389
930,624
950,121
bush.
5,568,788
5,467,180
1,950,114
3,982,153
9.302,725
7.066,841
7,315,902
1,874,360
1,443,055
7,374,642
10,127,362
1,368,376
684,620
635,152
749,225
294,499
110,585
182,251
79,840
13,785,931
15,954,943
16,643,201
19,699,945
1880.
1881.
Flour
Wheat
Corn
Oats
!l
* *
*1
595,350
Barley
Rye
Total grain
....
Exports from United States seaboard ports and from Montreal
for week ending Feb. 5:
From—
New York
Boston
Portland
Mi
Flour,
Wheat,
bbls.
bush.
101,823
22,713
1,323
688,635
38,488
81,450
Com,
Oats,
Rye,
bush.
bush.
bush.
202,193
87,722
3,284
43,877
3,284
3,236
43,877
10,966
16,369
39,299
Peas,
bush,
10,966
Montreal
Philadelphia..
20
Baltimore
New Orleans..
5,831
460
72,000
169,082
138,017
TotaJ for w’k 132.170
lameLuie ’80. 78,475
1,187,672
990,573
138,196
260,531
172,330,
860,972
974,876
The visible supply of grain, comprising the stocks in granary
the principal points of accumulation at lake and seaboard
s,
and in transit by rail and
Corn,
Oats,
bush.
bush.
bush.
900,000
107,000
439,231
Peoria
Indianapolis
Kansas City
ii‘,500
43,131
334,369
146,000
41,030
7.811,383 *5,325.470 1,607.746
45,107
50,062
3,146.720
5,000
1,202,000
68,5*29
300,312
1,901,015
7.8S1
6,709
1,258.350
35,000
65,000
1,688,876
102,718
2,163,954
431,715
108, i 69
99,044
6,169
*752
235.880
391,629
181,500
127,698
110.700
173,269
89,726
1 222,629
18.044
453,000
334,066
Philadelphia
1,633,241
Baltimore
On rail
1,670,980
224,857
273,698
353,535
967,855
Canal and river..
1,328,282
4,056,435
Barley,
bush.
235,542
&:
457,326
127,646
32,000
38,100
11,955
268.753
50,889
45*6*00
‘*5*45
200,000
388,000
261,755
330,685
17,227
330,000
80,592
7,930
41.666
43,965
459.295
12*49*3
2,210
8,035
i,974
31*3*4*2
6,100
771
95,931
570*5*86
117,745
46,7*05
76,669
470,000
16,430
’81.. 27,495.468 16,490,062 3,443,994 3,405,281
Tot. Feb. 5,
Jan. 29, ’81
Jan. 22. ’81
Jan. 15, ’81
Jan.
8, ’81
Feb.
7. ’SO
28,006,545
28,309,199
28.603,068
28,892,132
29,593,726
736,729
16,724,075 3,465,926 3,538,372 797,463
16,736,480 3,450,204 3,575.172 765,531
16,858,220 3,558,540 3,259,713 789,722
16,651,479 3,732,855 3,215.885 846,442
14,282,836 3,328,269 4,250,916 1,075,924
Including 352,479 bushels afloat.
THE DRY GOOD3 TRA.DE.
Friday, P. M., February 11, 1881.
change in the condition of the
2,717,692
dry goods trade the past week. The weather continued un¬
favorable
for the distribution of spring and summer goods, and
163,242,971 144,689.198 140,006,126 115,934,519
9,647,964
Barley
Bye..
i:
:.
Oswego
611,444 1,472,892
428,02 L 2,061,671
Total
144,139
Maine time ’80. 69,620
N
Buffalo
Chicago
Milwaukee
Duluth
Wheat,
3,388,322
Albany
25,602
8,594
24,900
[Vol. XXXII.
on
canal frozen in, Feb. 5,1881:
There has been no material
upon transportation was only partially re¬
There was, therefore, very little inducement to either
wholesale or retail buyers to operate in fabrics adapted to the
the late embargo
moved.
coming season, and new business was light in the aggregate
amount. Considerable deliveries of staple cotton goods, white
goods, ginghams, dress fabrics, and a few other specialties, were
made on account of previous orders, but even in this connection
the movement was not by any means as large as would have
been the case if less difficulty had been experienced in getting
goods from the mills and forwarding them to their destinations
in the interior. Despite the late protracted lull in the demand,
prices of both domestic and imported fabrics are generally
steady, and the outlook is considered encouraging by manu¬
facturers and merchants.
export movement in domestics
improvement, 2,994 packages having been
Domestic Cotton Goods.—The
has
shown
some
shipped from this port during the week ending February 8,
including 1,056 to Great Britain, 1,023 to China, 257 to Brazil,
186 to Hayti, 142 to U. S. of Colombia, 72 to Venezuela, 70 to
Argentine Republic, 70 to Havre, and smaller lots to other
markets.
Staple brown, bleached and colored cottons were
only in moderate demand by the home trade, but white goods
and quilts continued fairly active, and prices generally ruled
steady. Prints were comparatively quiet at unchanged prices,
but ginghams remained active and strong, with an advance in
Amoskeag staple ginghams to 11c. per yard. Lawns and
piques ruled quiet and steady at opening quotations. Print
cloths were sluggish ; and, notwithstanding a threatened strike
at Fall River, prices declined to 4%c., less 1 per cent, for 64x64s,
and 3%c. for 56x60s, at which figures some sales were made;
but the market closed a fraction higher.
Domestic Voolen Goods.—The demand for spring clothing
woolens has not realized expectations, and selections were
mainly confined to relatively small re-assortments of light¬
weight cassimeres and suitings. Prices of spring woolens are
fairly steady, as most of the mills have discontinued their pro¬
duction for the season and stocks are not considered unwieldy.
In heavy clothing woolens there was no movement of import¬
ance, but a few orders were placed for popular makes of fancy
cassimeres—for future delivery—and there was a moderate
business in overcoatings and fabrics adapted to the require¬
ments of cloak manufacturers. Plain and printed satinets were
in moderate request, but there was a comparatively light
demand for Kentucky jeans.
Flannels and blankets were
taken in small parcels to a fair aggregate amount, and prices
remain firm. Carpets were fairly active and firm at current
rates, which leave but a slight margin of profit to manufactur¬
Worsted dress fabrics were in good demand and stocks
ers.
are so well in hand that prices are firmly maintained.
Foreign Dry Goods.—There was a further slight improve¬
ment in the demand for imported fabrics, but no special aegree
of animation was developed in any particular class of goods,
and transactions were only moderate in the aggregate. Dress
goods have received more attention from retail buyers, but
selections were chiefly restricted to small parcels of novelties,
and the more staple fabrics were lightly dealt in. Silks were
onlv in moderate request, and linen goods, white goods, laces
and embroideries, met with limited sales, save in the case of the
latter, considerable quantities of which were disposed of to fair
advantage through the medium of the auction rooms.
3
@FedFRASER