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HUNT'S MERCHANTS' MAGAZINE,
RffiPRESENriNQ
VOL.
THE INDUSTRIAL AND COMMERCIAL INTERESTa OP THE UNITED STATES.
SATURDAY, FEBKUARY
4S.
NO.
1889.
2,
With Ending January
•
Terms of Subscription—Payable in Advance
For One Tear (Inolndlne postage)
ForSlxMontbs
do.
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:
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iCotUm
42
tnlwcrlhers of the Chronici-b.
Bulisonptlons will be continued until deflnltely ordered stopped. The
pnliUshers cannot be responsible for remittances unless made by drafts
or P<»«t OtHce money orders.
A file cover Is furnlslied at 50 cents; postage on the same Is 18
oents. Yo'.umes bound for subscribers at $1 00.
of Advertising:.
Advertisements ordPred for leas than one month. In the COMMERCIAL
* KiNAXciAL CHKO.KICI.E, are publlslied at 25 cents per line each insertion. When orders ure dettnitely K'ven for one month or longer, a liberal discount is allowed, and the net prieci may be obtained on applliatlon at the ollice. Tlie lowest rates on permnnent cards dellnitt-ly ordered for one year are 8 cents per line dAch insertion, malUng $58 tor
one inch space one year. Space is measured la agate type— 14 lines to
the. inch.
653,681,833:
5)9,457.039
(8S8.242;
(415,700)1
-HSi)
(22,T0),5OO
(+ST8
{H(,5»4.»t)01
M>I<.
(ll,i-21,0«0j
(39,S54,000)l
(-02-.S
(15,0t9,000)
balet,^
+23-7
724,073,9i0i
(+25
Inuhelg,^
(Petroleuffl
19.
P.Omt,
P. Cent.
1SS9.
(l.nS.SfiO
(398.400)
I85.wi3,li5)
tiMTU.,
iStockt
(Orain
Wtek Eni'i Jun.
26.
a.3fli,9««)
i_4-3,
(-L53-0)
(4:i0,000):
(-41-S1
(+5-1)
(-72-7)
78.
do
*1 8s.
do
do
BlxMOB.
Tbese prices Include the Investors' Scpplkmkst, of 150 pages
lasned once In two montlis, and fm-nislied without extra charge to
Terms
1
1,23?.
London AKent*:
Boston
Providence,
Hartford....
New Xiaven
^Drlnjtfleld
Worcester
Portland
Uxrell
New Bngland
Total
Pbiladelphla.
PlttsburK
Ballimore.
Total Middle
ChtCRKO
Cincinnati
Milwaulcee
Detroit
Cleveland
GolDmbus.
Indiana polls,
Peoria,
Smith, 1 Drapers' Gardens, E. C, who will take Grand Rapids
subscriptions and advertisements and supply single copies of the paper
Total Middle Western
Messrs
Edwards i
WILLIAM B. DANA
NA. 5
JOHN a. FLOTD,
WILI.IAn
R. DA1«A dc Co., Publisher*,
103 ^Vllliam Street, NEW YOKK..
Post Office box 958.
Sm Francisco
i^anaasCltr-
VilnneapolU
Paul
3t.
Omaha
CLEAIUXG HOUSE RETURNS.
With a smaller volume of transactions on the New York
Stock Exchange during the v^eek ending January 26, the
aggregate of clearings at thi.s city shows a decline of over
seventy millions of dollars. In the total for the other clearing
house) there is a loss of nearly thirty-seven millions, so that
in the vrhole country the decrease from a week ago reaches
$107,074,497. The falling off, moreover, has bjen very general, only five cities— and those among the smallest in the list
recording any gain over the preceding week. There is no
room for doubt that the open winter has interfered materially with business, and it is therefore somewhat surprising
that exchanijes should keep up so well.
Incomparisoa with the corresponding period of a year ago
the exhibit, as in the previous weeks of the curreat year, is a
very favorable one. Gains are to be seen iu all sections of
the country, and in New England and west of the
Mississippi they are quite
important.
Losses are re.
corded at only five cities, and except at Los Angeles
the percentages are very small. The most notable additions
to last year's figures in the present statement have been at
Duluth, 83-3 per cent; Denver, 00-7; Minneapolis, 41-4; Lowell,
The
i35-5; Memphis, 35'2, and Kansas City, 843 per cent.
total for the similar week in 1887 was slightly less than that
now recorded, but contrasted with either 1886 or 1885 the current aggregate exhibits a large increase. In 1884 and 1883,
however, the totals were greater than at present, but at those
times there was a very active stock speculation.
Operations in shares on the New York Siock Exchange for
the week embrace a market value of |65,666,000, which compares with $46,693,000 for the corresponding week in 1888.
Deducting two-and-a-half times these values from the total
exchanges at New York we find the clearings due to otiier
than stock transxctions to be 1439,516,833, against $433,712,039
a year ago, or an increase of 13"1 per cent,
—
Denver,
Uulutb
Joseph
Los AoKClea
Wichita
Topeka.
St.
Total Other nrestan.,
il. Ix>als
New Orleans
LoulBvlUe,
Memphis.
(ialveston
Norfolk,
Total
Bonthem
Total
all
Outside
New
+ic>a
Tork...
The returns of exchanges for the five days, as received by
telegraph ibis evening, are in the aggregate 0-9 per cent
Our
less than for the corresponding period of last year.
estimate for the full week ending February 2 indicates an
increase over a year ago of about 3'9 per cent. Messrs. R. G.
&
Co. report the number of failures for the week ended
to-night as 332 (291 in the United States and 41 in Canada),
against 342 last week and 279 for the same time a year ago.
Dun
Wtik Ending February
WeiK Bnd't Jan. 26
2.
Bttwnu IniTtUtravK
1869.
ISbS.
P,C»tl'.
1
506.670.884
511,356,336
-0-0
(1111,694)
(774,659)
(+17-7)
Boston
72,934,463
73,067,7182
Philadelphia
53,48o,S83
-0-2
+1-1
45,767,000
5'a,8»,409
9.649,286
48.612,000
13,040,071
U,MS,0S4
9,2t)0,55«
10.007,628
Total.5days
Kstlmated 1 day
711,540,541
718,099,419
198,487.«94
Total full week
Balance Coantr/*
Tut&I week,
New
York..,
Sates 0/ Slock (<>iarw)...
10,4l5,e)»
New Orleans
'
all
+79
18S9.
1
545.681.046
<9S9,414l
80,50>,C)80
53,296,583
10.515,477
+r»
11,«5,195
+18 7
76M02i703
+18-i
+10-5
-0
9
139,001287
-^212
118,264,318
880.039,83£
118,402,a0:
867,10;t,7S<i
~+T9
993,439.012
960,(S37,5ii) !
last wea'i's retarns.
+24
19,506,442
44,463,000
far t1>« (uU w««kt bAi«d on
+20
;-^i0-5)
+16-t
+5il
+18-8
-1-8
-10-8
103,533,760 1
P. Cent.
909,867,031
106,5^9,321
+1SX
-t3'j'l.0U'.206.34a
-1-177
+14
4
-tl4S
THE CHRONICLE.
138
[Vol. XLVIII.
bullion this week, which a special cable to us states was
THE FINANCIAL SITUATION.
the net result of imports to the'amount of £182,000, of
money has remained unchanged
receipts from the interior of Great Britain of £396,000,
the
and
accumulated,
further
has
and of exports to several points of £200,000.
Currency
this week.
Our foreign exchange market has been dull, irregular
demand for accommodation has not been active. There
was, however, a slight flurry on Thursday, the rate and easier for sight bills this week, the rate for short
going up during the last hour of business on that day sterling being put down yesterday to 4 89, long remaining
The arbitrage operations have had only little
to 4 per cent, round lots of money being loaned at that at 4 87.
The explanation for this spasm was said influence, but the purchases of bonds on European
figure.
insti- account have been quite active of late.
It is reported
to be the calling in of loans by a few
first also that there have been offerings of drafts against a negothe
for
preparations
tutions who were making
sure, tiation on the Continent of bonds on behalf of a Pacific
be
to
That,
of February disbursements.
was railroad. This decline of course again defers any outmovement
the
if
especially
cause,
might be the
probable
hardly
seems
but
it
speculators;
Cotton continues to go out quite freely,
flow of gold.
aided by
that there should be sufficient interest payments at this but wheat is still too high to permit any considerable
Still, the merdate to make any considerable disturbance while reserves movement from the Atlantic ports.
Possibly the flurry was induced through chandise balance, chiefly on account of the large moveare so large.
changes of balances in connection with the South Penn- ment of cotton, has been heavy the last two months.
sylvania settlement, which to us seems a more reasonable Mr. Switzler, of the Bureau of Statistics, has this week
The decline in the sight rate for foreign issued his trade figures for December. Below we give
inference.
exchange yesterday indicates that for the present at the statement for each month of the calendar year.
VORBION TRADK MOTKMKfIT OF TH» PNITBD STATBH— (OOOll Omitted.)
least there are to be no important shipments of gold; and
QOLD.
SrtTKR.
MEaCHANDISK.
hence the uncertainty with regard to money, which has
The
been
condition of
on account of a prospective outflow of that
felt
metal,
is
Export*. Import*. 0/
less
light,
abundant, but the inquiry was at the same time
and not urgent.
Eates on
Xx
Jm.
ports.
Export*.
ports.
The extremes for bankers' balances have been 4 and 1^
per cent, with 2 per cent as the average. Banks and trust
companies have loaned at 2^ per cent as the minimum.
Time loans have been inactive ; the offerings of money
were
Exctu
Tear.
for the time being removed.
first-class collateral are
2^ per cent for thirty to sixty days, 3 per cent for ninety
days, 3^ per cent for four months, and 4 per cent for
It is by no means certain that
five and six months.
Itj88.
Jan....
Fab...
Mar...
April..
Maj...
June..
July...
Aug...
Sept...
Oct....
Nov...
Dec...
t
t
t
4,5358,814
66,856|»10.17I
63,041 •l!i,29S
6O,80D •11,901
60,483 13,306
6-1,920 •18,293
39,38: •14,15S
38,395 •11,692
31,117 •a.182
8,372
66,353
53,871 ii'i,611
23,287
60.4S8
8.i,755i
63.051
56.685
30,710
48.844
47,087
44,627
43.223
46,703
31,9S5
74.725
76,S82
Total 691,760
*
806
1,0141
3.2711
748
S19
293
347
208
1,275
2,593
«
624
1.667
489
058
7.877
3,154
3,830
191
1,961
323
687
5,876
906
7,726,
Exceu
of
Imports.
$
+828
+653
1,785
+210
+7,538
+2,811
+3,483
17
852
1,906
+3,415
+6,819
Ex-
Im-
ports.
port*.
%
8.238
2,118
3,958
t
1,106
1,170
1,050
1,386
3,124
2,128
2,250
3,295
3,436
3,880
1,036
916
1,097
1,353
1,304
723
3,6-i7
3,699
791
1,975
1,927
Exctu
of Ex..
ports.
t
1.04«
848
3.803
57S
1,089
1,207
1,153
943
3,132
2,157
712
1,772
7'25,824 •33.468 12.331 32,8081+20,567 31,169; 14,537 16,«32
some judges at issr. 713.301 708,818 6,483 44.8S9 9,114! 33,746 27.045; 16,773 10,872
26 27,056 17,223 9.833
1886. 713,404 663,429 49,075 41,308 41,2831
least think not, claiming that the business and specula- 1885 688,860 387,869 100S81 23,645 11,417| 12,22S;33,881 17.773 13,508
H2.990i29,564 15,505 14,056
tive demand is likely to increase and give better employ- 1884. 7-19.3t;0 6'i»,26a l'.iO104 27,058 40.9181
1883. 7!t.5.'MI) «!S7.0B6l 10814:1 22,050 6.0491 16,007'23,705 14,153111,042
ment to floating capital. Commercial paper is in good
Ejcc'e.38 ol exports.
Excess of impcrtR.
In another column we have remarked upon the above
supply, but there continues an excellent inquiry for it.
Eates are 4 per cent for sixty to ninety day endorsed results for the whole year, hence make no comment here.
The most important events of the week, in an indu.sbills receivable, 4J@5 per cent for four months' acceptances and 5 to 6 per cent for good single names having trial way, have been (1) the adjustment by the railroad
presidents at Chicago of the differences which naturally
from four to six months to run.
these very low rates are to continue;
t
.
Bank
of England has lowered
This time the minimum has
been reduced to 3 per cent, having stood at 3|^ per cent
only one week.
The Bank holdings of bullion are now
comparatively liberal, being on Thursday of tliis week
Quite unexpectedly the
its rate of
discount again.
way of a successful organization of the
Commerce Association, and (2) the shelving,
perhaps we may better say the hypnotic sleep
stood in the
Interstate
or
which has overtaken the South Pennsylvania scheme.
The
latter
project
(notwithstanding
the
promising
£21,616,365, against £31,418,514 at the same date a accounts of progress which every few months have been
year ago. It will be remembered that last year the rate published) we have all along informed our readers had
was reduced to 3 per cent a little earlier, that no future unless developed in the interest of the Pennis
on
January
19,
so
that
there
is
no
special
sylvania Eailroad.
That was the decree when the West
Shore settlement was made, and the parties to that setthat our London correspondent calls attention to tlement invariably live up to and succeed in carrying out
the fact that there are as yet nearly 42^ millions their agreements.
This little bit of history, too, ought
sterling of the old 3 per cents to be converted into to be suggestive to any who are predicting disaster to
" Gosehens," and, as the latter have lately advanced, it the railroad presidents' agreement and its speedy
is not unlikely the Government may be prej^aring to com- rupture.
An honest, beneficent plan, conceived in the
plete that operation. Moreover we have seen it stated that interest of both shippers and carriers, by the kind of
Mr. Goschen has it in contemplation to propose an issue men who are back of that scheme never fails. It most
of £1 notes, which, if done, would of course also influ- likely will require time to reach full fruition, for it canence the money market favorably.
The official rate of not undo what has been done through excessive railroad
the Bank of France has not been changed this time, building the last two years, nor can it give us producbut still
remains
at
per
cent,
and the tive crops, sound trade and active industries, though it
3^
Imperial Bank of Germany continues af 4 per cent. will greatly aid in helping the country to realize the
Discounts of sixty day to three months bank bills in latter. Whether the results will be immediate or remote,
explanation needed for the change.
London
are
at Paris
is
per cent.
now 2@2^
per cent.
of
we
notice
The open market
3 per cent and at Berlin
The Bank
Still
rate
is
not a factor in such a reform, but that success will attend
and Frankfort it is If the effort does not admit of a doubt. Opposition, whether
England gained £378,000 active or passive, will not hinder the movement ; it wil
Fbbbuart
THE CHRONICLE.
3, 1880.]
harm only those who assume that
attitude.
Illiuois Central should elect to ignore the
Why
the
whole proceed-
and the public will regret most
placing itself so out
sincerely the course it has pursued
of harmony with the desires and purposes of the conservative classes. Still, the new arrangement is of too vigorous
a growth to suffer, and it is a happy conjunction of
events that so disorganizing a scheme as the South
Pennsylvania undertaking should have found its quietus,
and the presidents' agreement should have been settled
ing
is
certainly a mystery,
—
at
tlie
189
command
—being
over
a
of
the
million
company
dollars
at
in
that
excess
date
of
Snch
being the case, the company is amply protected it would
seem against financial embarrassment. With reference
the
net
total
the
of
floating
debt.
income accounts, it appears that estimating the December results the parent system of 3,000
miles earned in the twelve months of 1888 $1,216,000
in excess of all charges, but as $2,625,000 was paid out
in dividends, a deficiency of $1,409,000 on the year's
operations is shown.
The auxiliary roads in the same
week.
past
the
in
both
and perfected,
The anthracite coal companies, in their annual time are stated to have fallen about $3,000,000 short of
returns now coming out, reflect the prosperity which their charges, which deficiency to the extent of $1,800,this interest enjoyed last year. The Lackawanna issued 000 was made good out of their own resources, leaving
its statement last week and the Delaware & Hudson only $1,200,000 for the Atchison to take care of; the
The Lackawanna figures do not include the roads owned jointly with other
report has been furnished this week.
statement showed that after spending nearly a million systems, of which the Atlantic & Pacific is the principal
The exhibit as to earnings and income has been
dollars for new equipment, side tracks, &c., a surplus one.
1.3-35
and the management is being savagely
cent
on
the
stock.
much
criticised,
per
remained equivalent to
"65
the.
same
class of critics who were equally
shows
13
per
cent
assailed
by
now
Hudson
The Delaware &
in
their
praise of everything connected
in
the
rate
of
dividiscriminating
increase
an
announces
and
earned,
dends for 1S89 from the former basis of 6 per cent to 7 with the Atchison when the company was in the hey-day
to the state of the
Mr. Olyphant, the President, observes that of its prosperity. It is true that the present statement is in
by the large amount of coal a number of particulars incomplete and imperfect, but
sold, and not by a high price for the product, as the coal as it is simply preliminary to a much fuller and very
It is also comprehensive statement, any criticisms on that score
at tidewater realized only $3 67^^ per ton.
We think an honest effort has
interesting to note that the railroads leased by the com- are hardly warranted.
pany namely, the Albany & Susquehanna, Rensselaer been made to show the true condition of the property.
& Saratoga, and New York & Canada returned a It must be remembered that even when all the. details
per cent,
this result has been reached
—
profit
—
on
their
" standing
operations
of
$130,110,
"notwith-
a continued heavy outlay for improvements."
about the auxiliary roads are known, their future will
be more or less involved in uncertainty. These
still
Taking the last ten years, this is the most favor- roads show a large deficit for 1888, but that offers no
criterion of their earning capacity.
They were largely
able outcome on these leased lines in the whole period
in fact, with the exception of 1881, 1883 and 1883, in course of construction during last year, and hence
when there was a small profit, all the years showed have had no opportunity to demonstrate their real
The Chicago line certainly should have good
losses on their operations, reaching in at least two of worth.
them over $300,000 in amount. In 1887 the loss was prospects, as the Atchison can throw so much traflic
;
The future, therefore, depends chiefly upon
$37,623, and thus 1167,732 of the $433,829 gain in net over it.
earnings between 1888 and 1887 has come from that whether the expectations with regard to these auxiliary
source, and $101,215 more came from an increase in the roads shall be realized, and that point only the stateitem of income from investments, etc. According to ments of earnings from month to month can determine.
The stock market this week has manifested great
the company's balance sheet, the surplus or dividend
fund now amounts to $5,008,679. This is not as large strength and increasing activity. The developments
as the surplus account of the Lackawanna, which have been favorable, and some of them of great importstands at $14, 482,229 ; but the strong feature in the ance in their bearing upon the future of railroad prop-
Delaware
& Hudson
cash or cash assets.
case
is
Thus
that the surplus
the
all exists
company holds
169 of actual cash, and $1,212,859 net of
bills
in
$3,719,receiv-
able (after allowing for pay rolls, vouchers, etc.), not to
erty.
The Western
railroad
presidents
have
con-
cluded their meetings, reaching an agreement and electing a chief
officer.
The trunk
lines
have also made
further progress towards a similar organization; while
Pennsylvania in the Vanremoves what has frequently threatThe exhibit which the Atchison Topeka & Santa Fe ened to become a disturbing element in the situaThe Atchison statement has been
has submitted this week has excited much interest. tion of these lines.
but
seems to have produced a good
Careful study of the figures encourages the idea that harshly criticised,
the most critical point in the present acute stage of impression nevertheless, especially since the interKidder, Peabody & Co.
its affairs has been passed, and that henceforth a turn view with Mr. Magoun, of
for the better may be expected.
The gross total of the The Delaware & Hudson statement for 1888 like that
floating debt November 30 is stated at $8,643,304: this of the Lackawanna, makes a very favorable showing, as
includes not only notes and bills payable and current pointed out above; the Reading return for December is
accounts of every description, but also all interest quite bad, but as the comparison is with a month in
accrued at the date taken, whether immediately 1887 when the company had profited by the strike in
payable or not; the company held $3,457,412 of cash the Lehigh region, the effect on the market was trifling.
and accounts receivable, making the net total of The investment demand for good securities is large,
the floating debt $5,185,893.
This is not as formidable and this has induced a degree of activity in the bond
as had been reported.
But the point of most interest is market, making that department of the Stock Exchange
the fact that of the $7,000,000 pledged and subscribed hardly less of a feature than the transactions in stocks.
for last autumn when the company fell into difficulties, The coal shares lagged somewhat behind the rest oi the
only $700,000 had been called for up to November 30, market for a time, owing to the mild weather and the
leaving $6,300,000
11
of
this
guarantee fund
consequent diminished demand for coal, but latterly
speak of the four millions of stocks and bonds held, and
the $788,185 of advances
made on
coal,
the acquisition of the South
derbilt
interest
.
,
.
THE CHRONICLE.
140
The current weekly
have come to the front again.
reports of gross earnings continue very satisfactory, and
money rates are easy. The horse car strikes here in
and Brooklyn have had no effect upon the
market, though having proved rather troublesome to
New York
the police.
The following statement gives the week's receipts
and shipments of cun-ency and gold by the 'Ne^v York
banks.
.
Week ending
Feb.
I.
Received by
W. r. Bank:
lS-9
Currency.
Shipped bu
!f. r. Banto.
l/et
InUriot
Movement.
1
With
.
$893,100
|Galo. «,B60,000
t3,5S0.')00
fSW). 01
Gain. »2.8]0.000
the Sub-Treasury operations the result
as
is
below.
Week ending
Into Banks.
Feb. 1. 1880.
Banks Interior Movement, as above
Sab-Treasnry operations
Total gold and legal tenders
...
Out of Banke. yet Change
in
Sank Holdins
.
'.1,300,000
12.:«)0,a33
Gain. |a,660.000
»00. !•
Loss.
$14,850,000
$13,090,000
Galn.$1.7tJ0.000
$890,000
$3,550,000
Bullion holdings of European banks.
Jan.
Feb.
31, 18f9.
t. 1889.
AuOuo/
England
France
81.616,365
Germany
2».34a,531
eoid.
saver.
S
£
latal.
«
21,418,514
21,418,514
44.106,56; 47.481,889, 91,583.453
27,335,333 13.1177,687 41,033,QO('
40.0i9.U14
«
Au8t.-Hung*y
5,912,000
6.910,0
Netherlands..
Nat. Belgium
National Italy
Tot. this week
5,091.000
4,109,000
2.521.000
6,945,000
1,661,000
1.332,a0(>
8,983,000
1,118.00
14.573
0011
8.216,000
i.l85.473i200,327.28o 113.516.411 86.403,536 199,949,970
.11,4«1,818
Tot.preT.w'k. 111.092.038 i-9,12a.998l200.216.03a'll3.230,8J9'a6.311.3g3 199.61^,222
OUR FOREIGN COMMERCE.
The
commerce of the United States for the
calendar year presents a noteworthy contrast to
late
A noteworthy feature here is the uninterrupted tendency in the one direction, during the last five years.
In 1884 the balance in our favor amounted to over 120
million dollars in 1885 it was only about 100 millions,
in 1886 not quite 50 millions,in 1887 hardly 0^ millions,
and now for 1888 it is 33| millions on the other side.
To get an especially marked contrast, however, between
the present and the former state of things, one needs to
compare with the years from 1877 to 1881. Thus in
1878 the excess of exports was over 305 million dollars,
and in 1879 it was over 251 million dollars in 1880 it
waa 192 millions, and in 1881 1G3 millions. In the six
years ending with 1881 the surplus on the side of the
exports was no less than 1,216 million dollars
in the
seven years since then it has been not quite 367 millions,
which shows how striking and important the difference
between the two periods is.
As compared with the year preceding, the late year's
exports exhibit a falling off of only about 33|^ million
dollars, but as compared with 1880, the heaviest year
ever reached in the export trade, the decline is nearly
200 millions. In fact with the exception of 1885, when
the total was about 3^ million dollars less, the present
aggregate is the smallest of any year since 1877.
The
imports, it would seem, have never been exceeded.
As
the figures stand, the total for 1882 is 27 millions heavier
than that for 1888. But a difference in the method of
valuing the imports has occurred in the interval. According to Congressional enactment, from and after July 1,
1883, certain items of cost in bringing goods from the
point of production or manufacture in the foreign country to the point of shipment, formerly included in the
value of the imports, have since the date mentioned
been excluded in said value. The difference is estimated
;
;
«.1,550,000
Oold
Total gold and legal teaders
XLVm.
[Vol.
foreign
;
by customs oflBcials to amount to a reduction in values of
have from month to
month made our readers familiar with the leading between 5 and 7 per cent. Whether the former or the
features of the change, but now that the figures for the latter figure be taken in allowing for the change, the
full year have been prepared by the Bureau of Statistics effect would be in either case to raise the total of 725
millions for 1888 to afcove the 752 millions for 1882, and
at Washington, the results appear very striking.
For quite a long time past we have been steadily thus make it the largest on record.
In connection with the trade movements, it must
enlarging our imports, while the exports have almost
be remembered that according to the b€«t
always
as steadily diminished.
A point has been finally reached
where the values of the imports exceed the values of the authorities the sum of at least 100 million dollars is
exports, this having happened in the fiscal year ending annually due by the United States to the outside world
for interest, freights, undervaluation of imports, &e.
June 30, 1888, and now again in larger
that of the years preceding.
We
degree in
calendar year 1888, the precise amount of excess for
latter period being ^33,457,691.
The records for
calendar years do not extend as far back as those
the
Adding
this to the
33^ millions excess of merchandise
of indebtedness to be
the
In the face of this
settled for in one way or another.
the
imports,
we have
133|^ millions
for
have the results, however, since large balance against us, the net gold exports for the
There
1874, and in all that period there is not a single calendar year aggregate only about 20| million dollars.
year where a similar condition of things has prevailed— was also an excess of silver exports to amount of 16f
that is, where the balance on the merchandise movement millions, but counting both the gold and the silver
has ruled against us, as in tlie late year.
The figures there still remains nearly 100 millions which must have
been liquidated in another way. If it were not that the
are well worth recording, and we give them below
for
United States in its railroads and other enterprises
the whole fifteen years.
MEnCIIANDieK EXPORTS AND IMPOnTS,
offers such a desirable field for the investment of
European capital, this 100 millions must have been paid
Kzporls,
Total Foreion
ImporU.
Excess.
for chiefly by shipments of gold.
So long as our forTrade.
*
remains
trade
in
this
eign
condition,
therefore, the sit1874*..
the
fiscal years.
1875*..
18T6«..
1877*.
1878*.,
1879...
1380..,
We
569,873.098
510.817,122
590,666,629
620,302,412
737,092,073
765,159,825
88»,8M3,422
662,158,334
503,152,939
427,317,165
460.216,300
431,812,483
513,603,71*6
696,807,178
670,209,440
1881..,
833,549,127
1882...
767,931,018
752,813,507
705,209,316
749,308,428
687,08t),216
1884
1885
1886
1887
1888
688.249,708
713.404,021
715,301,041
631.706.462
" specie value.
629,281,860
587,868,873
663.429,189
708,818,178
7S6.221,153
Sxp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
lnif>.
7,718,784
1,132,029,433
7,694,484
163,319.464
110,056,112
1,014,000,358
1,018,013,704
is rather a delicate one.
Large gold exports
can only be avoided by the continued investment of
uation
1,100,518,712
305,279,500
1,168,904,556
foreign
251,557,029
192,876,248
163,839,687
1,278,762,621
stitute the
1,586,490,5(18
1,503,753,567
capital
As
here.
main form
15,138,439
108,143,100
1,483,275,532
120,104,568
1,378,628,288
100,.381,125
1,276,118,671
49.974,S.12
1,376,833,210
confidence in railroad
6,483.568
1,424,119,523
1.416.900,615
the last twelve or eighteen
33.457,691
railroad
securities
con-
such investments, we have
in that circumstance a reason from an economic and
of
1,620,825,453
standpoint,
financial
reasons,
why we
to disturb.
in
addition
should do
to
the
all
everything
to
other
promote
properties which the events of
months have done
so
much
February
3,
THE CHRONICLli
1869.!
It may bo dosirablo to note the articles responsible for
the coiitiimcd luigmentation in the merchandise imports
and the further decline in nierchandise exports. With ref-
erence to the imports certainly,another addition in 1888
is somewhat a surprise, especially in view of the heavy
and
This falling
between 14 and 15
million dollars but the total merchandise imports are
IGi millions larger than in 1887 notwithstanding that
fact; so there must liave been an increase in other
items and commodities of about 31 million dollars. It
will bo a week or two yet before the full details of the
imports can be obtained, but by taking the figures for
the eleven mouths ending Xovember 30 in the two years
most of the changes that have occurred can be foreshadowed. We find that besides the decrease in iron and
steel there was a loss of about 2^ million dollars in the
importation of tobacco leaf, IJ millions in unmanufactured wool, about the same amount in chemicals, If
millions in tea, If millions in cotton manufactures, one
million net in fruits, and from half a million to a million
falling off in the iron
and
off in iron
steel will
steel imports.
amount
to
;
dollars in each of the following
—
furs, paintings, &c.,
141
HALF YEAR'S RESULTS ON NORTHERN
PACIFIC.
As every one knows, the Northern Pacific Railroad
Company has of late been experiencing greater prosperity.
The weekly and monthly returns of gross earnshow continued growth
ings
the gains being large and in
And
enal.
as yet there
company's business,
in the
many
is
cases really
no check
phenomupward
to the
movement, each succeeding statement simply recording
a further large increase in addition to the heavy gains
previously recorded.
The explanation is very simple.
The north Pacific coast section
development, and the company
is
undergoing wonderful
is
now
getting the bene-
from the construction of a judicious system
branch roads, not only at that end of the line, but at
arising
fits
of
various other points.
The
net results from this enlarged volume of business
receipts, are not as yet quite so satisfactory.
and gross
As
in the case of other roads, expenses have greatly in-
creased, but in
instance there
is a special reason for
operating a greater mileage, which
with the increase in the amount of work done, would
tliis
The company
it.
is
and precious stones.
With such a large number of articles showing losses, naturally tend to swell the expense account. Entirely apart
it becomes all the more important to know what accounts from this, however, a much more liberal policy is being
for the increase.
Five principal items have the bulk of pursued in the matter of repairs and renewals, the larger
it.
Sugar alone has over 8^ millions. In flax and business making such a course both possible and desirahemp and manufactures of, the increase is nearly G ble. Prior to 1887, with its income restricted, the
millions; in tin (in blocks, &c.) it is about 3 millions; company was obliged' to practice the most rigid economy.
in manufactured wool over 4 millions (raw wool wo liave Now this necessity no longer exists, and the manageseen showed a decrease), and in vegetables chiefly ment, it would seem, is therefore taking advantage of
potatoes over 3 millions.
Rice shows an increase of the opportunity which the enlarged income affords, to
nearly 1^ millions, while on the following articles the make not only repairs which had circumstances permitincrease varies from half a million to a million and a ted would doubtless have been made earlier, but underbreadstuffs, fancy articles, hops,
—
—
—
third cocoa, coffee, silver-bearing ores, India rubber, taking to raise the property to a higher standard of
bituminous coal, and seeds. The point to notice is that efficiency. In a word, outlays are now on a scale comthe increase is mainly in items of necessity and not in mensurate with the road's business, needs, position and
prospects.
luxury.
articles of
As regards the decrease in the export values, it
known of course that our breadstuffs shipments
especially
To
wheat and
flour
—have fallen
off
is
—
very decidedly.
indicate the extent of this falling off
and
also
to
—
It is necessary to
wise
the
of
figures
bear these facts in mind, othernet earnings which we shall
present in this article will be
For the policy
tion.
misconstruc-
liable to
as regards expenses being differ-
show how the other principal staples cotton, provisions, and petroleum
compare, we have prepared the
ent, naturally very little
following, giving the export values for a series of years.
The figures for 1888 are subject to slight corrections.
ment in the net obviously does not indicate that the road
is no better off than it was before
the earning power
—
in net earnings.
1867.
1886.
183S.
so,
the limited improve-
;
(as represented
i8sa
improvement could be expected
And this being
by the gross receipts) has vastly increased,
and that after all is the main consideration
the net
show a smaller degree of progress, simply because
;
Co"on
I
«
»
»
t
"4.948.000 215.974,267 216,351,061 184.432,187 221,593.080 224.678.602
I
I
Breiiilstmrs.'ll6,600.000 1fl!,230.782 151,687.6511132.643.751
153.206.581 178.849,865
01,500.00;i 93.760,932; 91.471,221 99.879,386 102,524.081 lS4.4<Ja,705
4S,C6 7.00Q! 40.89S.8»2| 4'>.14S.204i 49,«7I,743 49.457.116 47.70,'!,079
Pro'rns. *0.
Petr'lm, Ac.
jroti^^^^j481,UBW517,8M.8«^,596;042!4
Thus
a larger proportion of the gross receipts has been used
in maintaining and developing the efficiency of the
The following
property.
compared with the previous year, the bread- earnings for the
as
stuffs exports alone
record a decrease
dollars, while in total
is
results
only 23^ millions.
of 44|-
million
merchandise exports the decrease
As compared with 1883, both the
and provisions exports show great contraction, and if the table went back to 1883 and
1881
the loss would be heavier still.
On the other hand,
cotton and petroleum compare well with their best
six
will show the gross and net
months from July to December,
inclusive (constituting the first half of the company's
fiscal year),
J»?]/ 1 to
for 1888, 1887, 1886,
December 31.
1888.
and 1885.
1886.
1887.
1888.
breadstuffs
previous totals.
In cotton the increase over 1887
reaches 9 million dollars, and the aggregate has only
been once exceeded, namely in 1880, when it was
^239,311,312, while in quantity the 1888 figures are the
largest ever reached.
The value of the shipments of
this staple
greater than the combined value of the
breadstuffs and provisions shipments, and falls but little
short of being one-third the value of all the
is
exports together.
Miles of road In December
height eamlogB
8,493
8,877
8,893
8,091
t
(
6.700,592
«
^268,480
>
4,843,6M
8,232,904
189,998
1,698,617
1,578,149
172,616
7,239,701
8,911,783
Mail....
Express
Total
i9s,geo
03,905
149,477
74,594
10,680,941
8,407,166
«.875,680
6,863.916
Thus while
4.357,025
4.131,586
gross earnings for the six
129,503
85,338
7,842.«91
6,743,830
8,372,168
8,108,889
(49-93)
(50-86)
Net
174,196
146,389
60,612
(4600)
3,970.126
months
(as
8,640.981
com-
pared with the corresponding period in 1887) have
increased $2,213,000, nearly two millions of this has been
merchandise consumitt by an addition to the expense account, leaving
the net only 1225,000 larger than in the previous year.
'
THE CHRONICLE.
142
As confirming what has been
said above, the relation
between earnings and expenses revealed by the table
interesting.
The period covered by the figures
is
given embraces the best half of the year; nevertheless, it
is a significant and noteworthy fact that in both 1885
and 1886 the ratio of expenses to earnings was only about
46 per cent; even in 1887, with a very large augmentation in the expenses, the ratio was not quite 51 per
cent; for the six months of 1888 it is about oS per cent.
As regards the gain in the gross receipts this is the more
striking, because the increase of $2,313,000 for 1888
follows an increase of $1,065,000 in 1887 and $599,000
It is to be remarked that the improvement
in 1886.
embraces all departments of the company's businessfreight, passengers, mail, express, and miscellaneous.
The gain in net being so small it has not been sufficient to overcome the increase in charges, and hence
the surplus is not as large as it was in the years precedThe company had heavier rental charges to meet
ng.
land also larger interest and sinking fund requirements,
the aggregate amount of the addition being no less than
1542,000, against which net earnings we have seen increased only $225,000.
Here is an itemized account of
the charges for the six months' period of the last four
years.
iiix
Nortliem Pacific
Months endinn Dec.
1887.
Met eamiDgB
1885.
Fixed charges—
Rentals—
St. Paul &Norlhern PaolSo...,
CoBurd'Alene Hallway & NaT.
St. Paul & Omaha
Manitoba Road
Minn. Union
Paclflo
406,976
67,629
1,070
11,115
22,882
34,442
36,000
3,000
511,510
171,586
Terminal
Tacoma Land Co
Branch Iloada
Taxes
Funded debt
interest
Qenera] Interest
Sinking funds.
4,131,585
8,970,186
now stand at $4,547,922, of which
applicable to the retirement of preferred
account of land sales
$1,016,585
is
Missouri and Pend
and $1,603,999 to the general
stock, $1,927,338 to
d'Oreille divi-
sion bonds,
first
mortgage
bonds.
PROPOSED RESTRICTIONS ON IMMIGRATION.
The
which has been reported to the House by the
Ford Committee on Contract Labor and Immigration
is a consolidation and extension of the Contract Labor
Act of 1885 and the Pauper Act of 1882. Besides the
persons excluded by existing acts, it attempts to keep
out polygamists, anarchists and socialists, and it makes
bill
provision against the admission of foreigners to labor
for a limited time with the intention of returning to
their
own
In this respect it may be said to
more general form, the underlying princi-
country.
involve, in a
ple of the Chinese Exclusion Act.
It is declared to be
a misdemeanor for such objectionable persons to come
United States, and a penalty not exceeding
$1,000 fine and three years' imprisonment is provided
into the
in such cases.
Of greater public interest and importance are certain
administrative provisions intended to keep out undesir-
3,640,881
Persons intending to settle in the
United States are required to obtain certificates of character from a United States diplomatic representative or
consul near their residence
;
but this
certificate
is
to be conclusive evidence of right of the person to
Equipment Co
Northern
t
4,387,025
XLVm.
able immigrants.
31.
RR.
t
[Vol.
2,455,511
833,7ei>
327,325
299,418
i,oro
1,059
1,031
11,033
22,821
10,780
22,451
10,710
22,312
34,236
34,056
33,696
413,735
ie5,8;6
368,125
153,951
316,500
140,794
2,281,234
2.196,040
3,163,727
101,459
£9,406
Or. 5,575
.
Total
8.9 12,174
Remainder.
+44"43il
3.369,761
27,387
3.010,011
not
come
United States, nor to relieve masters of vessels
Incoming vessels are limited to the
carriage of one passenger for every five tons' burden of
It is proposed to levy a tax of $5 on every
the ship.
alien coming into the United States, which is to be paid
into the
of responsibility.
to the Collector at the nearest port
by the transportation
agent or master of the vessel.
Masters of vessels and
officers of railroad trains coming into the United States
are required to report the number, nationality and con-
The Secretary of the
charged with the duty of supervising immiin 1888, against $761,824 in 1887, $826,920 in 1886 gration, being authorized to make rules and contracts,
and $630,970 in 1885. Of course this does not include and employ assistants, while full jurisdiction is vested
in any of the periods the income from investments, as in the United States courts in all cases which may arise
+761,8iW
-I-
630.970
dition
foreign passengers.
of
The surplus above the charges stands at only $444,851 Treasury
that
is
not ascertained
after the close of the fiscal
till
year.
With reference to the debt (we refer to the company's
own bonds, not those of branch roads), the changes are
very slight.
Since June 30, 1888, an additional two
millions of the third
is
under the Act.
So many distinct points are contained in this one
that
it is
not easy to pass judgment upon
its effect
bill
as
a
Its best features are
whole.
the consolidation of the
different acts, the endeavor to exclude anarchists, and
mortgage bonds have been put the attempt, as far as it goes, to put the whole matter
the dividend certificates still under direct control of United States authorities as
out, so that allowing for
unexchanged, nearly the full 12 millions of bonds
authorized under that mortgage have been issued. The
company spent $865,162 for new construction and equipment during the six months, and increased the supplies
on hand to $2,131,233 from $1,572,494. Annexed is
a
comparison of the debt and other items.
Amount Outstandina.
Dec. 31, '88 J^UTl«30,'88
Ju IK 30, '87 June 30,'86
distinct
it is
from State boards and commissioners.
too
much
Total
Annual
Interest on
Preferred stock
Supplies on hand
same
46,943,000
20,000,000
10,774,000
46,878,000
20,000,000
18,878,000
44,028,000
20,000,000
18,857,000
8,593.000
4,709.000
4,86,1,000
5,101,500
6,.'»1,500
1,131.500
1,274,500
4,640,821
4,640,821
83,557,500
81,608,500
78,710,321
72,877,3-31
5,013,450
4,896,510
4,602,6191
4,372,630
37,446,126
37,488,618
37,786,199
38,058,311
2.131,233
1.572,494
1,425.446
1,171,279
During the half year 238,379 acres of land
were sold
for $765,794, and the total of the
sales, including town
lots, &c.,
reached $852,403.
The
deferred payments on
While
work
these provisions will
smoothly at once, there can be no doubt that there will
be
less conflict of
the
authority and greater efliciency under
new system than under
against the admission of laborers
does not seem to us wise.
the old.
The
provision
coming for a limited time
It will
be almost impossible
and it may thus readily produce a burden
upon the government and a means of annoyance to
honest men, without accomplishing any of the purposes
for which it is designed.
Of the provisions with regard to the consular service
we have given our opinion some months ago. We do
not believe that under present conditions they can
accomplish much.
To make a thorough investigation
possible our consular service would have to be greatly
strengthened.
We doubt whether the government is
to enforce
General 1st mortgage bonds
General 2d mortgage bonds
General 3d mortgage bonds
Hlssourl and Pend d'Orellle divs.
DlTldend certificates
to expect that
prepared
it,
to
go to that expense for this purpose.
If it
'
Fkbroart
a.
THE CHRONICLK
1889.J
143
The companies were defeated ;
does not the certificate will be, in the majority of cases, dation of immigrants.
little more than a formality which any anarchist can but it does not follow that because a 50c. tax for a clear
and specific object was enforced a $5 tax for a different
anything
like
conset of objects will also be upheld.
Mr Spinola, we
much
It simply says that notice, though agreeing with the majority of the comclusive evidence of right to enter.
immigrants cannot come without the certificate it does mittee in the need of restricting immigration, believes it
Here again unwise to collect a head tax of more than $1 for each
not say that they can come if they have it.
we fear that the law will produce annoyance and con- immigrant, and also disagrees with the majority in
flict without fully accomplishing the results that are regard to any change in the existing law with regard to
desired.
At the same time we believe that, although no the number of passengers which may be carried.
Even if we assume that the constitutionality of the
great good can come from this provision, it will probably
produce no great trouble to anybody except the consuls. law is upheld, there remain a large number of obstacles
The If) tax is a restrictive measure of vastly more to its enforcement. There would be comparatively little
importance. If carried into effect it will undoubtedly difficulty in applying it to passengers arriving directly
do much to lessen immigration, and on the whole will by sea, at ports where there was a well organized systend to keep out undesirable immigrants. It would tem of inspection; but the difficulties in preventing
work somewhat in this way. The steamship companies, immigration via Canada, or in taxing it at any large
We know how much
being compelled to pay the tax, would probably shift a rate, seems to us enormous.
certain part of it upon the immigrants and pay the trouble it was to prevent the Chinese from entering the
If rates, before the law country via British Columbia.
Yet the Chinese laborer
other part of it themselves.
went into effect, were $15, it is not likely that they was easily identified; the numbers seeking admission were
would rise at once to $20, for this would involve such a not inordinately large; and the points where entry was
What shall we say of
loss of traffic that the steamship companies would be possible were comparatively few.
It is almost certain that part of the difficulties of protecting our whole Canadian frontier
desirous to avoid it.
the burden would fall on the immigrant and the other against an influx of immigrants at every point? These
So far as the immigrant paid immigrants will not have such race marks as are possessed
part upon the company.
this additional tax, it would have a tendency to keep by the Chinese, and after they have entered the country
out some of the very poorest classes, who are induced to it will be almost impossible to identify them. The tax
come by an extremely low rate, but who could not pay of $5 will furnish a constant premium for evasion. Many
It would also have an appreciable an immigrant will be ready to walk twenty miles to avoid
the higher charges.
effect in rendering it less profitable for the laborer to it.
We fear that the cost of keeping out those who do
come to America to labor for a limited time with the not pay would be fully as great as the tax obtained fjom
intention of returning to his own country after a year those who do, and that, even at such a cost, the law
The
eyado.
in not
draft
of
the
making the
bill
practicatly admits as
certificate
;
would hardly accomplish its object. Meantime we are
But the effect on the steamship companies would be providing for a detention and inspection of railroad
more important than that upon the immigrants. If trains which will be simply odious. American travelers
they were unable to increase their charges by the whole complain of the identification and passport system now
amount of the tax, the business of immigrant trans- in force on the Alsatian frontier of Germany. We fear
portation would be less profitable. The steamship com- that the enforcement of the proposed Immigration Act
or two.
panies would have less inducement to pay commissions
would involve us in a less effective, but equally odious
and troublesome, system on the railroads between Canada
commission thus paid were smaller and the number of and the United States. Under these circumstances we
immigrants to be attracted, owing to increased rates, think it wise to hesitate about placing the tax as high
were also smaller, much of the profits of these agents as $5 a head not from want of sympathy with the
would be cut off. The business of encouraging settlers general objects of the act, but because such a tax puts
would be reduced to legitimate bounds.
In fact the a premium upon evasion, and may perhaps render even
only question is whether it might not be too much the most wholesome provisions of the law inoperative.
reduced, and whether the law would not tend to destroy
the profits of a class of agents whose business is really
legitimate and who attract settlers of the most desirable
THE BUSINESS OF 1888 IN ENGLAND.
to agents for the sake of attracting business.
If the
—
character.
service,
The
provisions with regard to the consular
increasing,
as
they undoubtedly would, the
expense and difficulty of coming to this country, would
still further add to the burdens of the immigration
agent ; while the law with regard to tonnage, so far as
imposes additional expense on the steamship comwould diminish their incentive to handle immigrant business of the cheaper grades. Vessels of the
it
panies,
type of the Dresden, just built by the North German
Lloyd to carry 2,000 steerage passengers, would be
deprived of half their usefulness.
But there are several diflSculties to be surmounted
before we can be sure of the enforcement of any law of
this kind.
In the first place, there is the question of
[Communicated by our London Correspondent.]
Trade ia the Uaited Kingdom continued to improve quietly
but steadily throughout 1885, The political anxieties caused
by the illnesses aud deaths of the Emperors William I. and
Frederick in the early months of the year and the disturbance
of the money market in the latter part of it to a large degree
prevented speculation, but without checking legitimate business. Consequently, trade is in as sound a s -.ate as ever it has
been, while it is more active than for a long time past.
The shipping industry shows especial improvemeut. During'
the four years ended with 1387 there was a heavy falliag off
At the same
in the shipbuilding of the United Kingdom.
time wear and tear and losses at sea, combined with the
growth of international commerce, were bringing about a deficiency in the supply of sea-going vessels. Oa this account,
in the later months of 1887 there was a marked rise in freights,
to the placing of many orders for new ships. At the
beginning
of 1883, however, freights declined and the orders
that it would be upheld, such a result is not a foregone
fell off, but very quickly recovered, freights again advancing,
conclusion.
The steamship companies resisted the 50c.
this time from £8 15s. to £9 9i. per ton carrying capacity for
tax under the present Act, although that had the
cargo steamers complete, while wages likewise improved.
specific object of providing for the care and accommo- The result was such a demand for new vessels that most of the
its
constitutionality.
Although we are inclined
to think
which led
d
.
THE CHRONICLE.
144
large builder* and engine makers have secured orders sufficient to keep them employed throughout the present year. In
1888 the new conatruction amounted to about 904,000 tons
579,000 tons the year before
Seamen's wa^es have risen durin?
the year from £3 10s. to £4 5s., and the wa,gea of foremen
from 5 shillings to 10 shillings. Premiums of insurance are
also liigher. The danger now is that there will be an over-
gross, against
and
somewhat under
474,000 tons in 1886.
construction of vessels, as there was in the four years ending with 1883. During the past year speculators have made
much money, and there is consequently a rush of capital in
this direction. Unless, then, much caution is exercised, the
be overdone, a crisis will follow, prices of shipping will fall, and work peoplein large numbers will be thrown
out of employment. In the meantime, however, the industry
is very prosperous and promises well for the new year.
The demand of shipowners and shipbuilders stimulated the
coal industry to such an extent that the miners of the midland
counties, Lancashire and Yorkshire, demanded an advance of
wages of 10 per cent, and after an opposition of only a few
days their demand was conceded in full. Coal miners' wages
business
vs-iU
have risen
also,
though
in different proportions, in
Wales and
Scotland. The iron industry has shared to a lesser extent in
the general prosperity. As an evidence, we give the annexed statement, which shows the exports of iron and steel
from Great Britain
1888
1887
1886 ..
1885
1884
1883
1882
1881
1880
1879
1878
1877
1876;
1875
1874
1873
for a series of years:
Other
Pig Iron.
Ealls.
Tons.
1,036,177
1,159,500
1,044.257
Tons.
1,020,204
1,012,681
Desirlptions.
Tons.
1,910,543
1,974,726
1,605,289
1,455,475
1,497,439
1,508,095
1,658.531
1,517,458
1,466,055
1,196,170
933,193
Total.
Tons.
3,966,984
4,146.907
3,389,197
3,130,682
3,490,991
4,043,308
4.353.552
3,820,315
3,792 993
2,883,484
2,296,800
2,346,370
2,224,470
2,457,306
2,487,522
2,957,813
[Vol. XLVIII.
From the above it will be seen that the falling off in the
exports of cotton yarn noted the previous year was more than
recovered in 188S. The exports of jute and woolen yarns also
exhibit gains, while linen on the other hand shows a decrease.
As regards the movement of piece goods, it will be observed
that the exports of cotton fabrics passed in 1888 the 5,000,000,000 yard point and the exports of linen goods exceed by
13,000,000 yards or thereabouts those of 1836 and 1887.
Speaking broadly, all branches of trade have prospered and
are looking forward to the future with much hope. Profits,
though not large, are fairly good. The production is immense,
and employmeot for the working classes is abundant. There
is no cry of distress from any part of our great towns, such
as has been so frequent during late winters, and as yet at
least there have been no meetings of the unemployed. Prices
have varied little throughout the year. Freights, as stated
above, arp' higher, and so is tin, while coppjr is lower. But
with these exceptions the changes in market values are exceedingly
proper
and
is
Indeed the course of
trifling.
affairs
in
trade
chiefly remarkable for the absence of speculation
for the steady
development of business at increasing
profits.
The improvement has at last extended even to agriculture.
The land-owners are perhaps as badly off as ever. Rents have
been greatly reduced during the past ten years, and many
estates are heavily mortgaged. The land-owners with smaller
incomes have to meet tbe same amount of interest payments as before, and have to provide annuities for widowed
mothers, sisters and younger brothers. In fact, the losses
consequent upon the fall in prices have been transferred from
our farmers to our land-owners. Owing to the reduction in
rents and in agiicultural wages, as well as to the more general adoption of labor saving machinery, the farmers are now
able to work the lands they rent with a fair profit; cansequently the demand for farms has increased during the
year, and although the cereal harvests were all bad and the
965,285
price of British grain is lower now than it was twelve months
899,809
country are
963,498
ago, the reports from all parts of the
621,741
year with winter wheat
the
area sown
this
that
1,030,734
During the past ten or fifteen
is unexceptionally large.
The foregoing, as will ba seen, indicates a considerable de- years it is estimated that the wages of agricultural
cline in the amount of pig iron, the total shipments being less laborers in Great Britain have fallen 14 or 13 per cent.
But
than for the previous two years. The other mineral indus- it does not follow that the laborers' condition is really worse
tries, with the exception of copper, have also been only
than it was before the fall began, for the decline in the prices
moderately prosperous. The great rise in the price of of articles consumed by the working classes is larger even
copper towards the end of 1887 consequent upon the than the reduction in their wages.
operations of the French Syndicate checked consumpThe stimulus to our trade last year did not come from the
tion, particularly in India. All consumers limited their
United States, as it did in 1880 and 1887. The falling off in
purchases as much as possible and utilized old copper to a American railway construction caused a diminution in the delarge extent; consequently a decided increase has taken place mand from that quarter for our steel and iron, and, on the
in the stock of copper on hand. But the French Syndicate other side of the account, the Atlantic ports of the United
has concluded new arrangements with tlie principal copper- States sent us only about one-fifth of the quantity of wheat
producing companies, and negotiations are pending, with which they did in 1887. But the numerous loans and compaevery prospect of success, for the creation of a trust to include nies floated here and on the Continent by other countries ennot only the French Syndicate and the copper-producing com- abled all of them, and particularly the Argentine Republic, to
panies, but also the principal consumers of the world.
increase very largely their purchases of our goods. NotwithIn the other leading industries of the country, with the ex- standing the magnitude of the Argentine demands for gold,
ception of the cotton trade, there is little to call for comment. referred to below, a very large proportion of the sums raised
In the cotton department, however, while spinning is doing in this country were laid out here in buying materials. The
exceedingly well complaints are loud that the weaving branch colonies and India were also better customers, and so were
is not so prosperous.
Both the foreign and domestic demand our Continental neighbors. Altogether, therefore, notwithhas been good throughout the year, but weavers declare that standing the curtailment in the American demand alluded tO'
a further increasfl in consumption is necessary to enable above, the total exports of British and Irish produce surpassed
them to continue production on the present scale. The quan- in every month of the year the totals for the corresponding
tities and values of textile exports for the last three years
are months in 1887. This is shown by the following table, which
given in the following table:
gives also the percentage of increase or decrease over the
same period in the year just preceding, of the exports in each
Year's Exports.
1836.
1887.
1888.
month of the years from 1884 to 1888, inclusive:
960,931
1,269,576
1,564,048
1,758,072
1,480,198
1,632,343
1,223,436
924,646
881,442
910,905
947,827
776,116
1,142,065
739,651
714,276
728,540
971,105
936,949
820,671
693,696
463,878
441,381
497,924
414,556
545,981
782,005
785,014
qcantitik8.
Cotton yarn
Piece goods
Jute yam
Plooe goods
Unen yarn
Piece Roods
Woolen yarn
Woolen falirlcs
Worsted fabrics
VALUES.
Cotton yarn
Piece goods
Jute
•
yam
Piece goods
Iiinen yarn
Piece goods
Woolen yarn
Wpolen fabrics
Worsted fabrics
lbs.
2.54,331.100
yds. 4,850,210,500
lbs.
yds.
lbs.
yds.
lbs.
yds.
yds.
30,707,300
216,10a. 100
15,891,700
163,756,400
45,650,000
89,685,900
160,156,900
251,020,000
4,904,012,000
23,568,500
244,177,700
16,380,900
163,930,200
40,153,100
95,715,200
161,426,300
£
11,487,389
50,171,072
273,315
1,824,866
935,225
4,156,179
4,410,8 26
9,153,089
0,044,331
11,379,325
51,742,362
227,412
2,080,782
939,763
4,208,821
3,969,616
9,847,996
6.916,344
255,820,200
5,038,468,400
20,582,400
232,482,100
14,696.900
176,731,600
42,627,900
87,327,800
148,101,600
&
11,655,088
52,581,458
272,860
2,109,287
886,918
4,201,104
4,051,656
8,298,454
7,712,111
Exports 1888
compared with
1887.
Dlffero'ce.
Jan...
+
S,
774,936
1884
1885
1887
1886
Compar' d Compar" d Compar' d Compar'
with 1886 with l»85iwitli 1884 with 1883
Per cent. Per cent. Per cent. Per cent. Per cent.
- 6-4 - 61
^ 3-46 -4-95
-I-4-3
—10-9
-2-76
-flOl
-f 33
-f 5-31
9-5
-12-65
-f2
-t-H-80
-(8-1
—12-5
004
-H 1-7
-f -14
Aug..
Sept ..
-f
—
1,737,290
45,224
1,323,812
2,77S,389
1,722,401
1,580,783
1,399,460
230,170
Oct..
-)-
2,1.57,305
-(-11-5
Nov..
Deo..
—
617,319
1,571,255
—7-7
1-20
6-55
-)3-79
-f 5-56
4-78
-1-f 2-80
-f 9-15
-fl9-83
Year. -H2,319,75l
-(-5-5
H-
Feb..
Mar..
April.
May
..
June..
July..
•t-
+
4-V
-f
+
-t-
+ 168
-f9-9
+8-2
•+-7-1
-1-1
-t-3-2
—
—
—
-1-
4-22
—515
—13-8
H-4-62
4-9
-3-61
-H-35
-1-1-05
—2-40
-t-6-71
-88
— -32
—
—
—
—
-
88
6 6
9-1
8-5
70
-
3-5
-
8-6
-f
1-8
- 69
-f 10
7-4
H3-4
—11-7
—
—
5-9
2 8
4
Febhuabt
THE CHRONICLK
S, 1889.]
The complete trade
figures for three years are as below:
1888.
1887.
233,733,037
221.414,188
212,432,7.'>4
64,ai3,-l-t7
(59,348,974
5(1,231,203
298,347,381
280,703,161
268,007,017
1880.
£
EXPOKTS.
ITonio proitiu-ta
Re-alilpmont of imports..
U5
GoTemment securities, thereby lesjening the supply of loanable capital In the outside market, and forcing up the rate of
discount.
Still, the competition of the great Continental
banks prevented the complete saccess of the operation. And
the stock of gold held by the Bank of England fell lower than
80.714,069
had been since 1800, the year of the Overend Gurney failThe effect of the gold withdrawals on account of the
numerous foreign and colonial issues was heightened by the
fact that the imports of wheat, especially from Russia, were
a notable fact, brought out by the above, that while in
and 18S6 respectively, each year suffered a contraction in exports, ISiS's toial exhibits an increase over that of
the year before of 5'3 per cent; and this increase it should be
exceptionally large because of the shortoess of the home
harvest. Another cause tending to lessen the reserve of the
Bank of England was the demand for internal circulation
consequent upon the steady improvement in trade.
remembered follows one
In the last month or six weeks of the year the money
market was very much disturbed. Fears were entertained
that the Bank of England would have to raise its rate of discount to 6 per cent, and to adopt more effectual measures
than had hitherto been taken to increase the scarcity of loan*
able capital. The Bank was urged to advance its purchasing
price for gold, but without avail, and in the middle of December there was very great stringency. At length, however,
Total fxpnrts
301,935,011
38C,.^82,026
Total niercliiiudlso.
Eicoas of Imp, overeip.
88,234,642
I
81,171,850
349,381,080
I
It is
1834, 1885
Unioubtedly,
also,
of 4"38 in 1837 itself.
home consumption
increased largely.
e.xpansion of our seaborne carrying trade, which led to
the marked iacrease in shipbuilding, and thus stimulated
The
both the coal and the iron trades, occasioned an improvement
Manufacturers,
merchants and workpeople all had more money to spend.
Besides, while prices were falling the business community
generally had restricted as much as passible its purchases, expecting by holding back to buy more cheaply
later on. In consequence, stocks all over the country had
rundown. During 1837 prices had at first remained steady
for months together, and then as the winter approached tliey
had risen, in some cjses very considerably. The trading
classes saw from this that the fall had, for the time being, at
all events, come to an end, and that the time had arrived for
replenishing stosks. Much of the improvement, therefore,
is due to the laying in of stocks, which in previous years had
been allowed to run low. But the replenishing has been
done cautiously and moderately, and has not been accompanied by any speculation worth mentioning. The improvement in the prospects of our farmers too has counted for
much in the general improvement of trade. They are better
able now to meet their obligations than for years past. They
are in better credit with their bankers, and they are better
able, therefore, to buy from the towns. No doubt the fuller
employment of the working claeses, by increasing the consumption of agricultural produce, has contributed to the agricultural improvement. But, on the other hand, the agricultural improvement reacts upon the general trade of the
coimtry.
The year 1888 is remarkable for the registration of the
also in all the trades subsidiary to these.
number of new companies ever yet recorded in this
country. They are as many as 2,400, and their nominal aglargest
gregate capital
about £341,000,000.
There have also been
Tery numerous issues of foreign, colonial, Indian and domestic loans.
But only a small proportion of the new companies
registered have actually been brought out. Mr. Goschen's
la?t budget raised considerably the registration fee on new
issues.
Many companies, therefore, were registered long before they were ready for launching, and in some cases were
registered in alternative fonns, so as to leave their promoters
discretion as to the shape they should ultimately take. In.
not a few cases company's issues for one reason or another
have been postponed, and some of the companies actually
brought out have not been successfully placed.
Still the
subscriptions both for companies and loans
were very heavy, enabling foreign countries to take large
amounts of gold from the Bank of England. As gold is the
is
sole standard of value in this country, and as the law
compels
the Bank to cash its notes in coin, that institution is not able
to refuse gold when denxanded from it, as so many of
the
great banks of the Continent do. Therefore, its only means
of stopping the drain of gold
London
it
ure.
IjiroHTR.
is
to raise the value of
money
in
make it more profitaWe to leave the capital
here than to take it away. On the 9th of August, therefore,
the Bank of England raised its rate of discount from
2>^ per
cent to 3 per cent; on the 13th September it raised it to 4
per
so as to
and on the 4th October it raised it to 5 per cent. But
the drain of gold was not stopped. Many of the great
banks of the Continent have branches or agencies in London,
and they competed actively for bills in this m.arket, as by
cent,
still
the great issuing houses induced the Argentine Government
it would take no more gold from this
market. Then certain houses were able to import a large
amount of the metal from Russia, while assurances were
privately given that the imports of gold from Russia would
to give a promise that
A
few weeks be largely increased.
more
hopeful feeling was thereby created, and the last week of the
year was passed more smoothly than had been apprehended.
But the outside market in that week had to borrow from the
Bank of England nearly nine millions sterling an unprecedented event. Taken in connection with the facts we have
mentioneJ, the following table, made up from the official
weekly statements of the Bank of En.;land, and showing its
position as regards bullion, reserve, deposits, etc., on each
Thursday of the year, presents many points deserving conin the course of a
—
sideration.
DANK OF ESOLAND
3
In
IN 1888.— [00,0008 Omitted.';
DEPOSrrs.
Secubities.
«?=
De-
o
partments.
1888.
Bullion
both
Pi
£
£
Jan. 4.. 24,8
" 11.. 24.3
" 18.. 23,8
"
Feb.
"
" 15..
" 22..
" 29..
Mar. 7..
•'
"
"
2..
9..
"
"
16..
28..
" 30..
June 6..
"
13..
"
20
.
" 27..
July 4..
"
23,7
23,4
23,1
23.0
23.2
23,2
23,0
24,0
21,6
24,3
24,1
24,3
24,7
24,5
24,5
24.2
24,2
24,4
24,0
24,0
24,3
2.-.,2
25,1
"
24,9
"
24,7
Aug. 1.. 25,2
"
8.. 25,3
" 15.. 25,0
" 22.. 24,0
" 29.. 24,4
Sept. 5.. 24,7
" 12.. 24,3
" 19.. 24,8
" 26.. 24,8
Oct. 3.. 2.i,i>
" 10.. 2.5,4
" 17.. 25,1
" 24.. 24,8
" 31.. 24,9
Nov. 7.. 24,8
" 14.. 24,1
" 21.. 23.7
" 28.. 23,0
Deo. 5.. 23,9
" 12.. 23,6
" 19.. 23,6
" 24.. 23,9
11..
18..
25..
6,8
5,4
5,1
4,7
5,3
7,2
9,0
10,6
11,7
12,6
13,5
14,6
14.0
13,3
8,9
7,9
7,2
6,3
f,5
5,y
6.4
6,7
5,9
5,2
5,8
6,0
7,2
5,1
4,5
4.2
3,6
22.1
14..
21.. 23,1
" 28..
Apr. 4..
" 11..
" 18..
" 25..
May
20,2
20,4
20,7
21,3
21,4
21,6
25.. 23,4
1..
8..
^£~
1
22,4
22,8
23,0
23,3
23,5
22,9
21,8
21.3
21,5
21,2
20,2
19,6
19,7
19,8
20,3
20,8
21,3
21,6
22,2
21,7
21,4
21,3
20,9
20.6
20,1
19,9
20.3
20,8
20.9
20,8
20,6
20,8
20,0
20.3
20.5
20,7
20,5
19.6
,
19,6
18,5
18.5
'.8.3
18,5
18.6
19,3
3,4
3,1
3,1
3,5
3,5
3,8
4,4
4,9
0,4
7,5
6,1
5,4
5,4
-4.4
4.4
5.1
4,4
3,8
4,7
5,6
5,7
1O
£
23,4
25,1
25,6
25,0
25,2
24,6
23,5
22,6
23,2
22,5
23,4
22,2
26,0
23,8
25,0
25,1
24,8
24,9
25.3
23,8
23.8
23,8
24,6
26,3
26.5
26,2
24,0
27,1
27,4
26,7
26,3
24,4
24,6
24,1
24,8
24,1
24,3
23,9
24,3
23.9
24,7
26,0
25,9
25,6
25,5
25.9
22,3
22.1
22,4
22.6
22.3
22,6
o
£
14.2
17,2
16,3
15,3
15,6
16,3
10,3
16,3
16,2
16,6
16,6
17,3
18,0
18,2
17,7
17,7
17,7.
17,8
17,5
17,1
17,1
17,1
17,1
16,8
16,8
16,8
16,6
18,7
18,2
17,5
16,7
16,4
15,9
15,0
15,0
14.5
14,7
14,7
14.7
15,2
15,2
18,0
17,2
17,1
17,1
16,7
16,0
15,5
1.5.0
14,0
13.9
13,9
o
£
22,2
29,0
19.3
19,3
19,0
19,3
19,3
19,4
21,4
21,0
22,3
21,4
25.3
24,0
20,7
19,5
18.9
19,7
20,0
19,2
19.3
19,0
18,6
19,1
19,5
19,3
19,8
19,1
19,1
19,0
18.7
18.5
18.9
18,4
18,8
19,2
19,7
20,0
20,8
23,1
20.8
20,4
20,0
20,0
19,7
19,8
18,2
17,9
18,4
20,1
20,7
20,7
1
M'ketHiite
3
n
£
11,6
12,3
13,0
14,1
13,9
14,4
15,2
15,6
15,8
16,0
16,5
16,6
15,1
13,4
13,2
13,6
Pr.ct Pr.ct.
4
2
34)
2
3
ihs
2'a
i^'ii
,,
i4
2i|
1%
1=8
IH
i^is
i4
^he
1
lh»
IV
27,8
'*
2
SHi
i'>>a'
1>4
lii«
i4
_,
__
ii'ii
i""i«
2'is
24
2\
2"'i«
2V
•i^IS
34
3'g
11,1
11.6
12,1
11,8
11,0
11,7
11,0
11,0
10.7
11,1
11,2
11,6
IH
i^is
13,1
11,7
11,2
11,3
11,8
12,2
12,6
13,4
13.9
14,0
12,7
12,5
12.8
12,3
11,6
10,9
11,1
11.9
12,6
12.4
12,7
11,9
12,2
10,3
Months'
4n«
34
3
2^8
31l<
3
3«]«
4
"
STg
4>k
4U
..
4
power to obtain gold
should they require it. The consequence was that the rate
of
The amount of bullion held by the Bank rose from £20,200,«
discount in the open market in London did not rise
as for- 000 on January 5 until the highest point of the year, £23,500 merly to the level of the official minimum. In November,
000, was reached on March 21.
On December 5 it touched
therefore, the Bank of England began to borrow
from the its lowest figure, £18,300,000. The reserve (also at its highest,
other great banks upon the security of British
and Indian £16,600,000, March 21) closed the year at £11,600,000, haviqg
means
of these bills they gained the
1
—
.
THE CHRONICLE.
146
the
been down to £10,800,000. The following table shows
years:
nine
past
the
for
interest
of
rate
England
Bank of
Higb. Low.
per
Year.
I to June 17. 3
June 17 to Dec. 9. 21a
Deo. 9 to Dec. 31. 3
Jan.
Year's average
1881.
1 to Jan.
13 to Feb.
17 to Apr.
28 to Aug.
18 to Aug.
25 to Oct.
6 to Deo.
2-7t)
168 days
175 days
23 days
366 days
1885.
1 to Jan. 29.
29 to Mar. 19
19 to May 7.
7 to May 14.
14 to May 28.
28 to Nov. 12.
12 to Dec. 17.
17 to Deo. 31.
Jan.
Jan.
Mar.
May
May
May
Nov.
days Dec.
days
Year's average
days
28 3
Feb.
days
18. 2>s
Apr.
1886.
days
25. 3
Aug.
days Jan. 1 to Jan. 21.
6. 4
Aug.
21
to Feb. 17.
Jan.
days
31 5
Oct.
Feb. 17 to May 6.
to June 10.
6
3-48
May
days
365
Year's average
June 10 to Aug. 26.
26
to Oct. 21.
Aug.
1882.
30 days Oct. 21 to Dec. 16.
1 to Jan. SO.
Jan.
16
to Dec. 31.
days
Deo.
24
Jan. 30 to Feb. 23.
14 days
Feb. 23 to Mar. 9.
average
Year's
14
days
Mar. 9 to Mar. 23.
147 days
Mar. 23 to Aug. 17.
1887.
28 days
Aug. 17 to Sept. 14.
3.
1 to Feb.
lOS days Jan.
Bept. 14 to Deo. 31.
Feb. 3 to Mar. 10.
4-15 365 days Mar. 10 to Mar. 24.
Year's average
Mar. 24toApl. 14.
Jan.
Jail.
13. 3
17. 31a
1883.
Jan. 1 to Jan. 24. 5
Jan. 24 to Feb. 14. 4
Feb. 14 to Feb. 28. 31a
Feb. 28 to May 10. 3
May 10 to Sept. 13. 4
Sept. 13 to Sept. 27. 31a
Sept. 27 to Deo. 31. 3
13
35
70
112
7
42
86
24 days
21 days
1 4 day s
71 days
126 days
14 days
95 davs
of days.
cent.
cent.
1880.
d.
Rate Number
Rate Number
per ot days.
5
4
31a
3
21a
2
3
4
29 days
49 days
49 days
7 days
14 days
168 days
35 days
14 days
2-92 365 days
4
21 days
3
2
3
21a
27 days
78 days
35 days
77 days
56 days
56 days
15 days
31a
4
5
3-05 365 days
5
4
31a
3
Apl. 14toApl. 28. 21a
28
to
Aug.
4.
2
ApL
Aug. 4 to Sept. 1. 3
Sept. 1 to Deo. 31. 4
34 days
35 days
14 days
21 d.ays
14 days
98 days
28 days
121 days
3-34 365 days
Year's average
1887.
1888.
XLVUI.
1836.
SilTer.
BABK or ENGLAMD RATE OF INTEREST.
Year.
[Vol,
(f.
Aver,
High.
(f.
d.
Low. Aver. Higb. Low. Aver.
d.
d.
47% 4639 48%
449i6 443,g 4438
471 18 465,6 46iiie
443|6 431316 44
Mansli .. 433i 43
,4338
467,6 445,6 4538
4458 4314 43iB,fi
April ... 4278
42Uie
421a
iSH 437,6 430,6
May
42 »8 41l>8 42%
June
42 H 42
42% 44I4 433,6 43!li
44%
July.... 425ie 43
"I'lg 4378
423ie
Aug .... 4218 4115i6'42
45% 4414 4411,6
45I18 447,8 444i
Sept .... 443i9 421,6 43%
4479 4378 4438
Oct ..... 4338 4278 43%
4316,6 4311,6 4313,0
Not
4318 42^8 43
42S8
4278
15% ,4313,6' 447,6
Deo
425,6
Jan
Feb
,
i
d.
47
4615,,
d.
d.
46%
467,8
46%
4613,6
4678 4611,6 46%
46li„ 46
4638
46
44%
4538
14=8
4,411
1457,6
'4478
4638
42%""||43ii,c
42
42^,0
4258 4313,8
44% 453,6
4516,6 46 1532
45
14511,6
47
12
1258
45
4578
47
,
Foryear.i44»i8 ,41%
43ii6
Jl7%
J433i8 Il4iiit
i
455,0
It is a surprising fact, made clear ^by these figures, that the
average highest price for the year 1888 was 3 9-16d. less than
in 1887, the average lowest price 1 9-16d. less and the average
The shipments of silver to India
price of all 1 10-16d. less.
have been about the usual average of the last ten years,
£5,500,000 nominally. The amount of India council bills and
transfers reached 2,029 Lakhs, realizing a little under £14,000,000.
The rates ranged from Is. 5 l-32d. to Is. 6 l-82d, per
rupee, the average being Is. 4 7-16d. per rupee, equivalent to
The imports of Mexican dol42Jid. per ounce for bar silver.
lars were exceptionally small, the total not much exceeding a
million sterling, of which the greater part was shipped to
The price was generally
China and the Straits Stttlements,
but little over the melting value, the average being 43d. per
ounce.
Id the midst of the anxieties caused by the prospect of the
German throne of a young man of whom
19. 31a
357 385 days
Year's average
little was known, and that little not altogether favorable, the
16. 3
Chancellor of the Exchequer proposed the conversion of the
15. 21a
1884.
38 days Mar. 15 to May 10.
1 to Feb.
7.
Jan.
His plan was cordially
whole of the three per cents.
35 days May 10 to June 7. 3
Feb. 7 to Mar. 13.
20 days June 7 to Aug. 9. 21a
accepted by the city and was succesful beyond the most
Uar. 13 to Apr. 2.
da] s
78 days Aug. 9 to Sept. 13. 3
Apr. 2 to June 19.
days sanguine expectation. Out of a total of about £591,000,000 all
112 days Sept. 13 to Oct. 4. 4
Juno 19 to Oct. 9.
days but £42,500,000 have been converted. Mr. Goschen's ofler
20 days Oct.
4 to Deo. 31. 5
Oct.
9 to Oct. 29.
7 days
Oct. 29 to Nov. 5.
Year's average... 3-30 368 days was in some respects less favorable to the national creditors
56 days
Nov. 5 to Deo. 31.
than that of Mr. Childers, which so entirely failed a few years
2'96i366 d(,ys
Year's average
previously. But it had this great merit in the eyes of bankers
Of the foreign issues referred to above, those for the Argen- and brokers, that it aubetituted one great stock of nearly
tine Republic were largtst in amount, aggregating for the £600,000,000 for two or three stocks which Mr. ChUder's plan
year about £29,000,000, and for the last three years about would have permitted. Iq the great stock, dealings always
The condition of the money market can be effected promptly and freely. Besides, Mr. Gcschen
£57,000,000 sterling.
brought home to investors in this country the conviction that had taken precaution, unlike Mr. Childers, to come to an
the Argentine Republic was going ahead too fast. There is understanding beforehand with the bankers, and to remove
no doubt, of course, that the country is prospering greatly. their objections. Lastly, the city was predisposed in favor of
The area under cultivation is being rapidly extended. Immi- the proposals of a Government which it desires to support,
gration, especially from Southern Europe, is large, and the whereas Mr. Gladstone's Chancellor of the Exchequer had to
territory is being opened up ia every direction by the con- encounter the opposite feeling.
The conversion led to a great
struction of railways. But still it was felt that the speed was shifting of investments. Many holders of three per cents were
too great, and therefore the later Argentine issues, more unwilling to accept the lower rate of interest, and sold their
particularly the Water "Works and Drainage Company, were stock, buying instead debenture and preferred stocks, municfailures. The public also refused to subscribe to other foreign ipal bonds and colonial bonds.
The rise in prices that ensued
issues, and for some weeks past there has been almost a induced many holders of those securities to transfer their
complete cessation in the bringing out of new loans and investments to other securities jielding a higher rate of
companies.
interest, and it seemed probable at one time that the operation
The movements of gold were on a larger scale than for some would go on until it stimulated an active speculation. But it
years past, the imports havirg amounted to about £15,000,000 suddenly died out. The visit of the Emperor William II. to St.
and the exports to £14,250,000. Of the exports about £6,000,- Petersburg, which encouraged the Continental Bourses, had
OOQ sterling went to the Argentine Republic, and in addition little effect upon the London Stock Exchange, for London
about £3, .500,000 was sent thither from France and Germany, looks with much suspicion upon what are known here as
making the total imports of gold from Europe to that Republic international securities, believing that they are too dear with
about £8,500,000. From the United States about £2,500,000 all the risks of war that have to be etcountered. The numerous
of the metal was imported, from Australi* about £4,000,000, new issues referred to above absorbed so much of the savings of
from South Africa about £750,000 and from India and China the country that they go far to account for this state of things.
over £1,250,000.
But the weakness of the New York Stock Exchange had also
The price of bar silver opened in January at 44 7-16d. per a very powtrful influence. It is not necessary to rtfer htro
ounce a downward movement soon set in, increasing in ra- to the causes of the disappointment felt in London at the
pidity during the next four months, until the lowest quota- course of prices in themarketfor American railroad securilits;
tion, il%<3., was touched in the midJle of May.
The market but it may be pointed out that they afford the widest field for
afterwards improved a little, remaining sieady at about 42d. Stock Exchange operations, and consequently that when
per ounce, or a little higher, for the next three months. In speculators in those securities are di-appointi. d and discouraged
September a demand on the Coatinent arose, which raised the effect is felt in other departments of the London Stock
the rates to 44 3-16d. per ounce
from which, however, it Exchange.
quickly fell to 43d. In Decembtr tbere was another fall to
As the year advanced apprehensions in the money market
43 5-16d. per ounce, recovering at the close to 43 9-16d. The increased the unwillingness of operators to engage in new
average for the year is 43;gd. per ounce. As it is both in- ventures. And when it came to be recognized that the failteresting and instructive to compare the changes in the value
ure of the Panama Canal Company was inevitable before very
of silver, even in a period of only three years, we add below long, an additional reason for caution was introduced. The
the highest, lowest and average prices of the metal for each
year, then, has not been upon the whole profitable to members
month of 1886, 1887 and 1888.
In American rail
of the Stock Exchange or to their clients.
1883.
Jan.
1 to Jan.
Jan. 12 to Jan.
Jan. 19 to Feb.
Feb. 16 to Mar.
1
;
;
12.
4
12
7
28
28
56
28
63
35
21
88
days
days
davs
days
days
days
days
accession to the
..
.
February
8.
read securities
1
.
m
THE CHRONICLE.
1»(.9.J
much
—
...
losslias been incurred
RAILROADS.
in Internationul
;
Phtla.
tV
Xotc.
Head, certs.
High.
50
4713
was little disposition to deal and in Britisli rittsb.F.W.&C., guiu% 14g>a
W<r>t .pf.cert.
30
With PlItK.t
railroad stocks the margin for speculators is not wide.
Hlchmoud * All.,reo.
141a
2218
Rklnnoud
WcstPt.
&
some few and unimportant exceptions the common as well iis
Do.
pref.
76
preferred and debenture stoclts of our railways are held firmly Roiuo Water ib Ogd.
93
L.
Alton
Si T. If...
44%
8t.
by investors, and the amounts of the stocks therefore availublo et. Ixiuis Ark. & Tex.
8I4
23
in the Stock Exchange for operations either by bulls or bears St. L. &. S. Francisco.
pref.
61
Do
But there bius
is too small to admit of very much busimss.
Istpref.. xllOHi
Do
3918
ADuluth
been a good dial of monty made in nitrate sccuulits and in St. P.
pref..
9479
Do
The nitrate busimss has now St. Paul Minn. &. Man. 98»8
South African gold sharts.
Scioto Valley
9
assumed very contiderable proportions. The consumption of South Carolina
3
Texas
&
Pacillc
I914
capital
invettcd
and
the
nitrate is very large ai.d is increasing
securities tliere
Do
Land trust.
country in nitrate companies excteds five millions T(d. Ann A. & No. M.
ITnlledComp'sN. J..
mines
there
has
been
an
gold
African
sterling.
In South
Union Paciflc
almost unbroken advance in prices, the premium in many casts Wab. St. L. & Pac...
Do
pref..
reaching 500 and even 600 per cent, and the speculation is Whoollng & L. E., if.
being carried on as actively as ever. The rtports from the gold
EXPRESS.
in this
Coal and Mi.sino. Low.
24%
Cameron Iron ds Coal.
ic Iron
29
150% Colorado Coal
;
30
Col'im.
15
Consolidation
ii
47
Maryland
1214
10
12ia
ISLj
2579
0;3a
im
sm
as
10>3
29
33>3
295
301
a%
6%
35
31
93
Htttn
48%
A3>a
SOig
86
3S^
m^a
38i«
801a 85
ISOLj 1380a
68
721a
34
& Hudson CanaL
Oregon ImproT. Co..
Del.
Do
U
12V
C0.1l
New
10
4
23
Various.
18
20
Am.Cottou Oil Trust.
22 1« Amor. Tel. & Cable. ..
21
221
221
Chicago Gas Trust...
62*4 65 Js Consolidated Gas Co.
5913
211a
UHl*
14
26
Central
10 14 N. Y. & Perry C. & I.
261a Ontario Silver Mln..
6678 Pennsi Ivanla
114ia Quicksilver Mining..
40ie
pref.
Do
95»9 Tenn. Coal <t Iron
pref.
1 0379
Do
24
Wt
32
18i«
Hock. Coal.
25% Homestaku Mining. -.
81% Marshall (-'on. Coal..
103*4
lllah
107 13
103
92
pref.
Orcaon R'y ANav.Co.
931a
37>4
35>«
Padflo Mail
Philadelphia Co
Pipe Line Ccrtltlcat's
Pullman Palace Car.
are to the effect that they aro exceptionally rich, and the
principal operators predict that in a very short time the pto'
duction will exceed that of Australia. Geologists are very
sceptical in regard to these sanguine reports, but in the mean-
78
Adikms
81>s
1441a 148
83% 88%
American
100
113
73ia 76>a
199
172
United States
83
85%
134
Wells, Fargo & Co.
140
Wt stern Union Tel..
The range of Government bonds sold at the Stock Exchange
time the prices of the shares go up and up and the speculators
In
fields
. .
January was Us follows:
OOVERSMKNT BONDS.
make much money.
The situation of the Bank of France, as to its stock of gold
and silver, according to the last returns of each month of
1886, 1887 and 1888 was as follows, stated in pounds i'.w?'ng'GOLD ASD SILVEB
rN
BANK OF FRANCE.— (00,000s omitted.]
4ia», 1891,
rtg.
SUv'r Totelj
1887.
iGold. SIlT'r Total
GO.(l SUr'r T.
1886.
£
£
48,6
45,6
48,9
45,8
94,2 LTan. 28| 46,1
94,7 Feb. 25 47,6
47,7
46,0
93,7
50,8
48,3
90,9
48,4
47,3
45,3
46,1
101,0
June
93,8 April 29; 62,1
94,9 May 27i 56,4
95,7 June 24 66,4
44,8
May
47,S
48,0
93,2 July
48,2
47,3
95,6 July
54,3
45,1
911,4
48,1
47,7
9S,8
Aug.
54,6
45,3
iiP.D
47,1
47,7
58,6
45,5
45,6
lt'0.8
47,5
94,3 Sept.
93,3 Oct.
54,7
45,8
£
43.9
47.4
44,7
47,8
44.7
47,9
44,7
47,9
92.0 April
44,8
18,S
4«,9
03,3
93,5
£
>
1
£
£
^
JE
I
Jan. 26
Feb. 23
Mar. 29
April 26
Hay 31
June 28
91,31 Jan.
92,5 Feb,
1
[
44,6
92,6
1
Mar.
4«,0
Mar
25!
1
July 2(1 44,4
Aug. 30 43,8
48,8
Sept. 27
Oct. 25
Not. 20
Dec. 27
42,8
49,2
03,0 Ang.
02,0 Sept.
40,g
49,1
90,0 Oct.
0.7
49,3
90,0 Not.
24: 45,4
47,7
83,1
Not.
62,4
40.0
49.4
9C.0 Dec.
29!
47,7
92.3 Dec.
49,6
49,2
;
44,g
43,3
80,4
43.7
'Jl,3
44,1
94,7
109
109
1081a
Closing...
109
109
128
46,6
46,8
.
60
Jan.
mmid.
days.
H.
4 «4i«-5 4 89-14
1....
2....
3....
4....
6....
6....
7....
8....
8....
10....
11....
2
Stock Exchange during the month of January, 1889.
—
4 84i«-5 4 89-ifl
4 84i«-5 4 89-ia
4 84ia-5 4 83-ia
B.
Jan.
Burl. Codar
&.
P.
No.
Canadian PaciHc
Canada Southern
Do
Do
Ist pt.,rcor.ft».
2dpf.,reor.otf8.
Clllcago i Alton
Do
pref.
cue. Burl. A Qmucy.
MU. &
ChlcSt.
L. &Pitt»l>..
Do
pref..
Chic. St. P. Minn. JcO.
Do
pref..
an. Ind. S. L. C
Cin. Wash.
Bait. ...
Do
pref..
A
.
Clev.Col.Cin. ilnd..
Cleve. & Pitts. Kuur.
Col. HdcIc. Val. &T0I.
Del. Laclt.
We.ft«jrn
Don.
&
&
P.io
Grande.
Do
.
pref..
Deny. & Rio (Jr. W..
Den. T. & Ft. W., cert.
AFtD
De8.\I.
9
&
sasg
9
i'iH
96ia
65%
51i«
91 >8
pref..
5»8
11 1«
St.
L.
37
30%
34>8
N.Y.Chic &St Louis..
81 7g
10738
17 14
1st pf.
67%
142
10078
151.1
Do
Do
95
01°8 101
,S978
2d pref.
16'«
IT-a
'12H
45
III3
13'4
N. Y. Lack. & West...
N. Y. Lake Erie & W.
Do
pref..
N. Y. & New England
N. Y. N. H. & Il.artrnl
N. Y. ik North'n, pref.
N. Y. Ont. & West....
N. Y. Sus<i. &Wc8t...
Do
pref..
15
20
Norfolk
13
'e
IJa
2»»
hb^ 63
155
24%
I57I2
2tiis
139 "a 144 58
7>«
8I4
T"*
919
86
99'a
ii2ri
9yi-j
20
4I9
235
lea«odUoe.
&
&
81%
11
33
EvauBV. & Terre H..
Flint i Pcro M., pref.
Ft Worth & Denv. C.
Green B.Win. & St. P..
Do
pref.
Do
2i«
9
88
49
7
70 V4
2314
Illlnoia Ccntr-.il
Do
MtnneaiK)Us
40
90
Misaouri Pacillo
Mobile & Ohio
Morris & Essex
iVash. Chatt. &8t. L..
N. Y. Cent. & Hud. R.
67
Cent..
National, cert,
Michigan Central
Milw. L. Sh. & West.
56 14
37 14
lOO^s
21^9
& Texas
Nasliv..
I,ouisv.N.Alb.&Ch..
.Me.v.
51%
12%
63
Hous.
&
21 %
7'8
240
13
IS's
113
116%
95 "a 95 >«
Do
& Western
Northern
Do
Ohio Ind.
Do
Ills
28
1738
55I2
10178 106
90% 931a
Texas...
pref.
Harlem
Louisville
Ilioh-
18% 20
27
16
Mo. Kan.s.
2d
Do
Do
pref..
Low.
10
106
Oa. Ry
Istpref.
E.Tenn. Va.
Kingston & Pemlir'ke
Lake Erie & West'n.
Do
136
140
160
160>a
107 V 1 1 1 >«
G138
100"a
106'4
140>9
96I4
i Xorthweiit...
Do
pref..
Chla & Rock Island..
pref...
94% 100
Mahoning Coal R'y ..
351^ 3e% Manhattan, consol...
46
46
Do
Rights.
\~H 20 lo Manhattan Beach Co.
14i« 175i Mar.IIoush. & On.pf.
15% 1«% Memphis & Charles..
91<fl
dlic.
Railroad?.
Bloom. & West..
Lake Shore
5314 Long Island
Paul.
pref..
&
30
30
pref..
St.
Do
103
42>4
ill
Do
83j
30
20
Ind.
Iowa Central,
58
101
SO'*
afla. pd.
Central of N.Jersey..
Central PacUlc
Cbar. Col. & Aug
Ches. & O.,roor. cert.
CWc. 4 East
7%
51
Ct. Iowa, (ith
Chic.
4779
.
.
pref..
Paciflc
pref..
& West
....
8
144
37
109%
26%
581a
40
43
9513
3%
9 14
88
50
8
88 •58
SUij
98
(i
III3
14
75I3
8 14
147
81
100%
)H78
71 14
81s
3234
16
49%
25
59
9 "a
914
34 la
17 14
52''8
263^
61
l'.iia
30
22%
Peo. Decat.
& E'viUe.
•130
131ifl
•130
•1311a
127 >a
127'a
1271a
Tan.
60
De-
days.
mand.
8
4S5V6
14...
4 89
15.. 4f5is-6 189
4S9
16.. 4 86
17.
4^9
4^0
18.
4 89-13
4 se-ia
i'gb-ia
19-..|lS6ia
4 •5-ia
20
4f5is
4 89-ia
4 89-ia
4 fiSia
189-13
4 89%
25.... 4
26.... 4
27....
28.... 4
29.... 4
30.... 4
31.... 4
87
87
4
4
89%
89%
87
87
87
87
4
89%
4>i9%
4
4
89%
89%
8,
21...
22...
23...
24...
oiir
4b6>s-7 4 1-919
4 86ia-7 4 89%
4F6ia-7 4 S>9i9
4 87
4 891a
First 4 84%-5 4 89-%
1 89%
Hlgu 4 87
IjOW. 4 84%
4 89
Last
4
87
1
89%
oirn correspondent.]
London, January
19, 1889.
the value of money has continued aU through the
week, with the result that the foreign exchanges have turned
against this country, and that gold exports to South America
have re-commenced. During the week ended Wednesday night
the withdrawals from the Bank of England exceeded the im"
ports by £68,000, and since Wednesday £50,000 more has gone
fall in
South America. Although coin and notes are coming back
London from the internal circulation, the best opinion now
is that the fall in rates ha« nearly reached its Umit, and that
an upward movement will soon begin. The opinion is based
upon the fact that gold shipments to South America have
begun again, that the payments of taxes will be very much
larger than the disbursements from the Exchequer for the
next two months, and that consequently the Bank of England
Nevertheless,
will soon get control of the outside market.
to
to
many
will
think
it
likely that the directors of the
meet the upward movement
Bank
in the outside
England
market by
of
lowering their rate of discount to 3>^ per cent. Money upon
the Continent also is returning from the internal circulation
to the great reserve banks and therefore it seems probable
that for the next five months at least rates will not be high
all
over Europe.
The German Emperor and the Czar have this wee ^repeated
42% 4039 the assurances, previously given by the King of Italy and the
241 >9 25 «
relations of all the powers
19% 19% Hungarian Prime Minister that the
I4I3 1878 are friendly.
This has made a very good impression upon
21
Oregon 8hort Line..
Oregon & Trang-Con.
Our,
'99 rtg.
2914
30
Sr. L.. pref.
6»,
1271a
61
pref.
li;
De-
mand.
13
[From
41
ll:i
Ohio ii Mississippi..
do
pief
Ohio Southera
Oiuiiha
60
days.
4 85-13
4 8512-6 4 89-13
4 i^5ia-6 4 89 i«
.
The
KAILBOAD AND MISCELLANEOUS STOCKS.
Low. High.
154 >« 156
6s. Our.,
•98 rea.
bid— no sales during the month.
The dally posted rates for sterling exchange in January
are given below, it being understood that bankers' actual
rates are usually a fraction below the prices posted:
aAVKEKS' 8TKRLINO KXCHANOE (POSTED BATES) POE JANUARY, 1889.
following table shows the highest and lowest
and miscellaneous stocks at the N. Y.
AtcbisoiiTop. cfeS.Fc.
Atlantic & Paci tic...
Bo9t.&N. Y. A.L.pf..
Buffalo R. & Pitusb ..
coiip.
xl2«7g
128 14
I26I4
128>4
Pilocs
prices of railway
Railroads.
Albany & Susq
126I4
128
4», 1907,
100,5
REVIEW OF PRICES IN JANUARY—
STOCKS, GOVERNMENT BONDS AND
FOREIGN EXCHANGE.
The
4i3«,1891, 4»,1907,
coup.
reff.
lOSia
126=9
108%
*
S
WBH
Opening..
Highest..
Lowest...
84% 85
to
10
41 7g
14
10
44
22
3138
24 7g
30 14
public opinion, the impression being heightened by the publication in Russia of reports from the military commanders
Bhowiog that the army is not prepared for war, and more particularly that the training of the soldiery is so backward they
cannot be trusted with the handling of repeating rifles. The
prospect of continued peace, the easier state of the money
market, and the improvement in trade, have all brought about
a rise upon the Continental Bourses. The syndicate which
some time ago arranged
for the conversion of the
Hungarian
THE CHRONICLE.
148
debt has taken advantage of the opportunity to begin the opsubscriptions were invited in Vienna
for the conversion of £13,000,000 five per cents into new bonds
bearing 4i^ per cent interest, payable in gold, the interest to
be exempt from all tixation, and the bonds to be redeemable
On Thursday
eration.
rvoL.
xLvin.
dividends upon domestic, foreign and colonial investments ia
immense, and it haa been increased by £5,000,000 by the purchase of the Oude & Rohilcund Railway for the Indian Gov-
ernment.
Of course a large proportion of the money so distributed
being re- invested, and owing to the distrust of international
announced that the loans of 1871 and 1873 will shortly be con- securities and the shock to confidence given by the recent
verted also. The conversion will slightly increase the capital disagreement between the Pennsylvania and the New York
of the debt, and will reduce the interest charge by only \i per Central companies, it is going almost entirely into what are
cent. But for all that it will greatly relieve the Hungarian here called first-class securities. Naturally the rise in these
treasury, as the period within which the new loan is to be re- is inducing several old holders to sell, and they are buying
deemable is very much longer than the redemption peri- American railroad bonds that are likely to advance in price in
ods of the old loans and therefore the several sinking funds are the immediate future. In addition to the causes mentioned
to be considerably reduced. It is expected that this operation above for the upward movement in established favorites with
the public, have to be mentioned the purchases of consols for
•will be speedily followed by the conversion of the Egyptian
Practically the matter the sinking fund, which at this period of the year are always
preference, Domain and Daira loans.
was arranged some months ago, but the state of politics on very large. And there is also speculative buying of consols
the Continent and the condition of the London money market because it is known that the Chancellor of the Exchequer is
made a postponement advisable. Since then the Egyptian preparing a plan for completing the conversion. The shifting
Unified 4 per cent debt has risen to about 84, and as the of securities is by no means as large as was witnessed when
other three loans have a prior lien on the revenues set apart the conversion began, but still it is considerable. And if it
for the service of the Unified debt, it is believed that when lasts much longer, it must lead to a revival of speculation,
the latter stands at the price mentioned the new 4 per cent for its effect will be heightened by the rise in international
bonds retaining a prior lien would be issued very nearly at securities consequent upon the preparation of the several
within seventy-five years by half-yearly drawings.
And
it is
is
;
par.
These two conversions, however, will not make any fresh
demands upon the European money markets. But it is different with the conversion of the Russian loan of 1873, which, it
As in the case
is understood, is to be very soon undertaken.
of the conversion of the 1877 loan, it is stated that the new
operation will be accompanied by a fresh loan of five or six
millions sterling. And if this is successfully accomplished,
then the other Russian loans will be taken in hand one after
another. The Italian Go'^ernment requires a much larger
«um, and it is reported that a group of great London houses
Las offered to it a loan of £40,000,000 but whether the conditions are acceptable is not known.
The French Government
-will have to borrow in the current year £40,000,000 or £50,000,OOO the German Government will raise £14,000,000 or £15,-
markets for the new issues that are to be brought out.
While international securities generally are advancing, the
shares of the Rio Tinto Copper Company are depressed. The
•
company
refines a small proportion of its ore
by calcination,
having bought the right to do so for a large sum from the
Spanish Government. But a royal decree has ordered the
process to be stopped. The company claims compensation,
and the dispute has led to a good deal of speculative selling
Besides, the stock of copper has so largely accuin Madrid.
mulated that people fear the French syndicate will not be
able to carry out its plans, the more particularly as the
negotiations for the formation of an English copper trust are
being protracted. For a week or two past, indeed, reports
have been industriously circulated that the negotiations have
broken down. This is not true as yet, at all events. And I
carrying believe, on the contrary, that the negotiations promise to be
;
;
the Austro- Hungarian Government is
through the Parliaments of Austria and Hungary a military successful. But it is said that the representatives of the
bill which involves a large outlay
and the other European' American copper mining companies, wiiih which the
Governments will also apply for considerable sums. The Fiench syndicate believed it had made arrangem°nts, or at
000,000
;
;
Australian colonies are likewise about to apply to the London
market, the Victorian Government having this week asked
for three millions bearing Z)4. per cent interest. The Cape of
Good Hope, too, has borrowed £520,000 at 4 per cent interest,
and other colonial governments, as well as the Indian Government probably, will also add to their debts. As yet Argentine
borrowings have not recommenced here, although it is known
that some of the great London financial houses have entered
Into contracts to bring out fresh issues but one of the Argentine provinces has tried to raise money in Paris. It will be
«een that the demands of governments upon the savings of
Europe will be very Isrge this year. The number of new
companies being formed is also great.
Already several
Chilian Nitrate companies have been started. In the long run
these new issues must disturb the European money markets,
:and therefore cause a fall in Stock Exchange prices. But in
the immediate future quotations are likely to go on advanc"
;
not so tractable as was expected. It
turns out, moreover, that many other details have yet to be
settled upon.
But those having matters in charge still are
sanguine that all will be satisfactorily concluded, and that
least so represented, are
the trust will be formed with a capital suflicient to maintain
the price of copper at a figure which will enable all the companies to pay handsome dividends, and yet will not press
unduly upon consumers.
The Banks of Bengal and
this week
owing partly to
Bombay have both
raised their rates of discount to 10 per cent,
the activity of trade in the interior of the empire, but chiefly
to the great demand for money in Rangoon, because of the
very large exports of rice to China, which the terrible famine
there has called for. The high rates at which money can be
employed in India, and the low rates at which it can be bor-
rowed
here, are inducing the Indian
banks with London offices
amounts
of India Council bills
however, the price of silver is about
exert themselves to the utmost to keep up markets, and their }^d, an oz. lower than it ought to be at the current price of
efforts will be assisted by the more sanguine feeling respect- Council drafts. The reason is that by buying telegraphic
ing politics and by the .ease in money.
transfers the banks at once get command of the money they
Further reflection has strengthened the favorable impression wish to employ, and even bills give them the funds in three
made here by the conference of American bankers and rail- weeks, while silver has to be coined a'ter it reaches India.
road Presidents; yet it is felt that to carry out the plans of
The wheat market has been dull all the week, and prices
the conference will require much time, and it is doubted are somewhat lower. The weather continues mild, consumpwhether a lasting working arrangement can be arrived at tion is moderate and the imports are large.
without some modification of the Inter-State Commerce Act,
Although the rate of discount of the Bank of England was
while the public is not convinced that the executive commit- 5 per cent from October 4 to the end of the year, the London
tee proposed to be formed will be able completely to control joint- stock banks have declared dividends for the second half
employes of railroads. Consequently the conclusions of the of 1888 only at the same rates as were distributed in the corconference, though recognized as an important step in the responding half of 18S7. Outside London the banks have
right direction, have not much stimulated business. There done better. Several of them paid from 1 to 3 per cent more
is, however, a greater demand for American railroad
bonds, than for the second halt of 1887, and none of them distribparticularly for five per cent bonds under par. This seems to uted lower dividends. The London banks are in the habit of
indicate a revival of speculative Investment. No doubt it
paying interest upon money deposited with them at a rate
is
stimulated by the rise that ia going on in consols, colonial of \'%. per cent below the Bank of England rate, but it will
bonds and preference and debenture stockf. The amount of be recollected that the rate of discount in the outside market
money distributed this month in London in interest and was never close to 5 per cent, and was often only 3 per cent
ing.
The great
capitalists interested in the
new
issues will
to purchase unusually large
and
transfers. Curiously,
:
February
..
1
THE CHRONICLIl
3, 1880.J
and even under. Practically, therefore, the joint-stock banks
paid interest upon deposits nearly as high as the rates of discount they obtained. At the same time the disturbance of
the money market chocked speculation on the Stock Exchange and decreased the Stock Exchange demand for loans.
To these two causes is chiefly attributable the comparatively
disappointing character of the London joint-stock dividends.
Outside Loudon neither the rates of interest nor the rates of
discount are as much regulated by the Bank of England rate
as they are in London itself. The banks, moreover, do a different kind of business. For example, they do not look so
largely to tho Stock Exchange for their profits as do the London banks. Over the United Kingdom generally, too, trade
was decidedly good during the half-year, and the improve"
ment in trade of course increased the applications for loans
and thereby increased the business of tho
Only a few railway companies have yet declared
dividends, and those companies generally serve London and
the south of England, Tho London companies are mainly
dependent for their earnings upon passenger traflic, and so
to a great extent are the south of England companies,
whereas the great lines running northward and westward
from London, as well as those that serve the Midlands and
the north of England and Scotland, are more largely dependent upon the carriage of goods. The railway dividends yet
announced, therefore, do not in any way indicate the state of
trade. One of the companies will distribute a better dividend, two others have disappointed expectations, and a fourth
pays the same dividend as for the corresponding half of 1887.
and
I
,
discounts,
banks.
149
Bncllab Financial markets— Per Cable.
The
daily closing quotations for securities, &c., at London
are reported by cable as follows for the week ending V-^'n. t.
London.
Tua.
Uon.
Sal.
[
1888.
1887.
1886.
£
Olroalation
Pabllo deposit!
Other depoaltg
GoTernment
,
£
83.815.010
23.826.890
24,068.635
5.357.841
5.031,16-)
4,189.856
8.819.030
a6.004,.'!S9
35,507,095
23.717,063
27,621.389
24.S03.0S0
18,225.W»
16,339.301
15.181.805
15,916,615
Other seoarlttes
20,192.115
19.285.841
19,099,000
20.098.599
Beterreof notee and ooin
Coin and balUon
13.173.139
13,019,559
11.711.033
12,400,0i!0
20,818.419
20.675.848
20.029,718
20.953,990
aecurltlee
Prop, assets to Uabilltiea
Bank
UH
p. 0.
rate
4 p.
Consols
6
102 11.18
100V4
GearinK-Honse retorn
ilH
425*
•3 p. 0.
C.
SOW
p.
a
3 P.O.
100 13-16
OOH
163,165,000' 116.914.000 139,115,000 188,633.000
nm
National Banks.
—The
recently been organized
iim iim
January
42».fl
08ii„
99
82-97 •2'82-»7'«
lll>t
11138
130 "a
130'
5338
58 a«
67aB
Wa
29%
30
II8I4
118
55=8
24%
67 'e
25
111=8
112=8
national
following
m.
42»i«
98lii«
99ifl"
banks hare
:
—Tho First National
Bank of Anaconda, Montana Ter. Capital.
\Vm. L. Uogo. President; \Vm. M. Tliornton, Cashier..
First National Bank of Ilillsboro, Oregon. Cwital, $50,00(X
Joliu W. ahute. President J. D. Mcrryman, Cashier.
3,965
$100,000
3,966—The
;
Imports and Expokts for thb Week.—The imports of last
week, compared with those of the preceding week, show a
decrease in both dry goods and general merchandise.
The total imports were |7,.570,152, against lO.iei,.^! the
The expreceding week and |9, 133,00-5 two weeks previous.
ports for the week ended Jan. 29 amounted to |7,363, U8,
against 16,618,725 last week and f 5,793, 4S7 two weeks previous. The following are the imports at New York for the
week ending (for dry goods) Jan. 24 and for the week ending
merchandise) Jan. 2o; also totals since the begin-
(for general
ning of the
week
first
January
in
For Week.
1886.
:
MBW
Dry Goods
Total
Sxnee Jan. 1.
Gooils
Qen'I mer'dlse..
Dry
.
TOBK.
1888.
1
$2,612,399
4,916,746
*2.801,328
5,132,423
Qen'l mer'dlse..
Total 4 weeks
1887.
1889.
1
$3,191.8121
5,017,207|
$2,580,498
4,989,654
$7,570,152
$7,933,751
$7,529,143
$3,209,109
$9,410,1(?4
$11,1,59,704
$1 2.393.742
21,609,204
21,770,573
$12,147,312
24,827,550
25,711,160
$31,019,368
$32,935,277
$37,221,2921 $37,858,472
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Jan. 29, 1889, and from January 1, to date:
EXPORTS FBOH
•
Thur$.
d.
per ox
FORKXQS IMPOa-rS AT
I860.
Wtd.
42"«* 42<S
42»i«
42>a
Oonsou.new 24i iiercts. 9Sli,a 9813,6 98ia„ 9811t«
»8is,„ 9iI3„
9815,6 997g
do for account
FVoh rentes (In Paris) fr. 82-92 Jq'82-76 82-87ia.82-92 la
1113B
U. 8. 4'ssof 1M91
130>« 130^1
130^
13018
0.8. 4s of 1907
54 14 X5208
64>«
Canadian Pacltio
54
6HI1
65!«»
Mil.
&
St.
PaiU....
as-Ti
ec'-s
Ohio.
28 'a
28^8
29%
20 le
Erie common stock
11714
118>4
nitnols (.'ontral
116»4 1151a
55 '1
5558
55=8
Pennsylvania
55 "a
24°8
24 \
21 \
Pblla<lelpliia &. Reading. 24-'s
nils IIII4 11108
Ill's
New York Central
Silver,
NEW
TOKK.
19.
1886.
&
Messrs. Pixley
Abell write as follows on the state of the
bullion market
GoM-Tlio.ro bus been no demind tor gild durinr the week, and the
Bank has re(;eivcd all arrivals £187,000 has bsen paid in and £220 000 witlidruwn, of which £120,000 was for South Araerioa. Arrivals —
*115,000 from New Zealand; £39,000 from India; £11,000 ftom South
Africa: £50.000 from Australia— total. £215,000. The P. & O. steamer
"Kaisar-i-Hiiid" takes £10,000 to Bombay.
Silver— Uutil iho li'gluuiujf of the week silver was very quiet, liut
Decamo steadier witb special order.i ahd higher r»t6s from India on
Monday. The price suljsi-finently improved to .i2%l., which i< to-dav's
quotation. £41,000 h.is arrived from Now York. The P. & O steamer
'•Kal.Karl-nind- takes £101,000 to Bombay.
Moiioan dollars are unite nominal, a few have changed hands at il^sd
The quotations for bullion are reported as follows :
:
GOLD.
London Standard.
Jan.
17.
d.
>.
Bar gold. fine
os. 77
Bar gold, contaln'g
S0dwt3sllTer..oi.
Span.doubloons.os,
S.Am.doabloons.oB.
9
77 10
Jim
10.
siLvisa.
London Standard.
Jan.
a.
».
77
9
77 10
17.
Jan.
Bar silver
oz.
Barsllver, containing 5 grs. gold. OS.
Calce silver
Mexican
oz.
doli....oi.
42^
10.
iZH
$23,619,678
$27,977,465
20,614,31i>
shows the exports and imports of specie
for the week ending Jan. 28, and
1889, and for the corresponding periods in
table
at the port of
New York
tince January
1888 and 1887.
1,
BXPOBT8 AND IMPOBTS OF SPECIE AT
Exporlt.
NEW TOBK.
Importt.
Ciold.
Week.
Since Jan.l.
Week.
Since Jan.l.
$490,130
$501,739
20,950
1,000
29,336
1,000
405,500
16,800
2.800
5,49G
9,457
8,390
30,610
$975,325
441,243
515,881
$10,116
113,188
20,872
$501,644
202,929
3,107,000
206,500
183,350
03,437
Germany
West Indle»
Mexico
South America
150,000
16,198
All other countries.
43
49
42^
45 13-16
Totall889
41«
iVA
Total 1888
Total 1887
The following shows the imports of cereal produce into the
United Kingdom during the first twenty weeks of the season compared with previous seasons
17,730,672
$23,650,238
$23,264,516
The following
1889.
$7,363,116
.'85.919,566
Frev. reported..
Total 4 weeks .
188S.
$5,028,454
18,591,221
$5,745,327
17,519,189
Great Britain
Prance
d.
<J.
For the week....
1887.
$653,323
281,800
155,324|
1,000
820
Jmportl.
Exports.
Silver.
Week.
Since Jan.
1.
Week.
Since Jan.l-
:
IMPORTS.
1R88-9.
Wheat
Barley
o»t«
1887-8.
•CWt. 26.40^,670
19,(;ti2,750
9,909,745
7,' 25,573
867,250
1,113.777
8,021,719
6,878.190
1.420.439
9,066,4,63
9,232,935
7.521,276
Peas
Beans
Indian corn
Flour
«,130,U40
946.Sti2
-
..
l8,70i,9S2
9,702,676
6,453,296
976,798
977,933
9.165.233
0,122,901
1885-6.
21,201,«:i2
0,075.471
4,46e,'17:!
920,;).)0
1,321,7m2
10.34!).07ti
4,906.290
Supplies available for consumption (exclusive of stocks on
September
1):
188'^-9.
1887-8.
1886-7.
1885-6.
Imports of wheat.owt 20.403,676 19,«B2.750 18,701,982
21,201,032
Imports of Hour
6,136,040
7,5 '4,276
6,122,901
4.906.290
Saiea of home-grown. 14.257,033 17,105.511 11,549,088
17,074,056
.
Great Britain.
Prance
,
$801,517 $1,336,132
5,000
24,900
9-
Germany
West Indies.'.
Mexico
"3,961
Total 1889.
Total 1888.
Total 1837.
560
.5,710
42,884
56.306
15,622
4,631
105,743
$1,408,580
1,059,628
212.8COI
602,945
$60,723H,328
71,948
$131,705
125,801
148,888
.,
South America
All other countries...
""769
41,831
$818,401
288.200
3,86!
Of the above imports for the week in 1889 $2,000 were
American gold coin and ^S.e-iO Amerii^an silver coin. Of tho
exports during the same time $155,250 were American gold
,
Total..
Aver, price wheat
Aver, price wheat
46,799,349
44,292.567
.week. 30s.
2d.
39,376,971 43,181,978
1887-3.
1886-7.
1885-6.
Sis. 4d. 3«8. 3d. 29s. lOJ.
.season. 32s.
4d.
303.
,
1SS8-9.
...
Id.
328.
Id.
The following shows the (|uantitie3 of wheat,
maize afloat to the United Kingdom:
TT-h^.f
5,,^,"'
.
—
'""*=•
.qrs.
J^lour, cqu.il to qrs.
Maize
-urs.
r*'*
2.2O1.500
j
18.000
291,000
^''*' week.
2,193.000.
162,500
237,500
1388.
1,387,000
208,500
330,000
303.
9il.
flour
and
1887.
2,20^..-.00
322,500
345,000
coin.
—
The Union Mutual Life Insurance Company of Portland,
Maine, in the report of the directors to the policy liolders,
gives very full details concerning the company's affairs. The
directors point to the increased income from premiums, the
increassd volum-i of insurance in force, the mortality experience being largely iuBida the "tible rates," and the sales of
real estate and other seoiirities at prices in excess of the book
valuation of Dec. 31, 18S7, as all proofs of careful management in each of the departmenis.
:
.
THE CHRONICLK
150
[Vol, XLVIII.
—
Messrs. Elward Sweet & Co. and Backer, Howell & Co.,
Trnst Companies in New York and Brooklyn.—The following abstracts from the annual reports of trust companies, of this city, offer to investors a limited amount of the first
published in the New York Times from reports filed at mortgage 6 per cent gold bonds of the Northern Pacific &
Montana Railroad Company, guaranteed, principal and interAlbany, completes the list given in the Chronicle last week
est, by the Northern Pacific Railroad Company.
These bonds
mriTBD STATES OF NEW YORK.
have fifty years to run and cannot be redeemed before maturEesourcts.
1887.
ity, although a sinking fund has been established to provide
1888.
$1,641,000 for their payment. Other particulars will be found in the
$2,045,900
Bonds and mortgages
ll,292,^27
10,967,832
Stock luTestmenV
22,396,184 advertisement, or furnifhed by the bankers oflfering them.
21,168,640
loaned on collaterals
3,102,084
5,066,589
Loaned on personal securities
The forty-sixth annual report of the Mutual Life Insurance
52,i,000
1,354,790
Beal estate
Company will be found in another column. This great insti1,580,728
XAl&,V2.9
Cash on deposit
The policy-holders increased dur30b,535 tution continues to grow.
322,720
Other assets
ing the year 17,436 and now number 158,369. The assets now
:
—
$40,759,262
$42,507,201
Total
Liabilities.
$2,000,000
6,166,732
1,056,914
32,636.422
647,131
$2,000,000
5,074.805
1,652,837
31,401,473
630,146
$42,507,301
$40,759,262
Capital
Burplasfund
Undivided profits
Deposits in trust.
Other
liabilities
Total
KBW TORK
LIFE rNStJEANCE 4; TRUST COMPANY.
BMOurces.
1888
1887
$2,222,709
6,880,442
6,520,787
4,010,432
424,620
218.380
3,500,000
284,482
$2,377,559
7,427,813
3,744,033
1,763,384
424,000
243,953
$24,061,852
$18,707,241
Bonds and mortgages
Stock investments
Loaned on collaterals
Loaned on personal securities
Kealestate
Casli on deposit
Cashonhand
Other assets
Total
2,40i'.000
326,479
Liabilitiei.
Surplus fund
Undivided
profits
Peposlta in trust
Other
liabilities
$1,000,000
1,052,458
la9,897
14,195,743
1,373,789
$24,061,852
Total
MERCANTILE OF
NEW
188S.
2,398,026
13,025,401
250,161
729,793
1,527,457
21,445
32,564
$iO,931,326
$18,100,908
Cash on deposit
Cashonhaud
Other
liabilities
Total
1887.
$94,188
2.714,669
13,438,379
784,563
^58,442
3,019,836
21,747
99,500
Stock investments
liOaned on collaterals
Loaned on ptrsonal securities
Eeal estate
$116,060
Hahiliiita.
Capital
$2,000,000
950,000
86,332
17,884,535
10,459
Surplus lund
Undivided profits
General deposits
Unadjusted accounts
Total
$20,931,326
$2,000,000
800,000
99,980
15,200,928
$18,10U,908
METROPOLITAN OP NEW YORK CITY.
Resource!.
„
1888.
Bonds and mortgages
$120,500
Stock investments
Loaned on
Overdrafts
Kealestate
Cash on depcsit
Cash on hand
Otherassets
5,354
67,446
$3,463,466
$6,624,439
$1,000,000
569,939
6,886,279
62,546
$1,000,000
445,563
5,137,193
, 41,682
20
465,000
425,.i58
Total
1887.
$60,500
2.063,300
8,907,106
159
50,0^0
451,859
10,704
80,809
2,321,650
5,062,935
collaterals
lAabiliiies.
Capital
Surplus lUDd
General deposits
Other
Uabl.ities
Total
$8,468,466
AMERICAN LOAN & TRD8T COMPANY OF NEW Y'ORK
$6,624,439
„
1888.
.$60,000
,
..
Loaned ou collaterals
leaned on personal securities
Due from banks
Cash on deposit
Cashonhand
Otherassets
Total
1887.
587,733
2,476,392
282,487
80,132
293,»75
634,376
166,761
$70,000
302,040
2,545 260
300 983
315,738
260,507
776,124
33,610
$4,583,860
"$4i6oI,283
$1,000,000
112,196
80,360
3,385,142
6,160
$1,000,000
112,233
37 978
3.446,736
$4,583,860
$4,604,263
Liabilities.
«:
SlS't'S^.i-s
Undivided profits
Deposits in trust.
^w?Lk^R?^"*
Other
liabilities
Total
band, $3,434 77; personal loans, $167,6^6 16; other assets,
ti«6i«'«».-C!apital, $500,000; sur^
a".i'^ll,*^-^l^-WJ^uniiYided profits, $25,801 67; general deposits,
SiTaifaAi'^:!^.,'*''
Vo' A,'^?i',^S'„''®P"'"' '" t™'f *247; other liabilities, $203,776. Total!
S,,^}.,' S"?
it^Q*,'
<p^t.iol,4u7, do.
at 187
&
—
Anction Sales. The following were sold
Son :
auction by Messrs. Adrian H. Muller
recently
at
&
Shares.
Shares.
100 Liberty Ins. Co
73
250 Phenix National Bank . 1341^
29013-294I4
10 Barney Dumping Boat
17313
Co
20 Irving Bank
241a
59% 66 Nat. Butchers' &Drovers'
30 Park Fire Ins. Co
205I3
Bank
187
24 Continental Ins. Co
5,000 Cashier Mining Co. $5 persh50 Irving Fire Ins. Co
$8
50 Central Safe Deposit Co.
60 Lawyers' Title Ins. Co.. .115
23
192-1921*
ot N. Y
100 Meicantile Nat. Bk.
2 Certs. Membership N. Y.
195^4
150 Mechanics' tfat. Bank
$1150-1175
Produce
Exch...
262 United States Trust Co.
22 Jos. Dixon Crucible Co.. 67
645 to 651 19
5 Leather Man'fs Nat. Bk. .22713
1 00 Stookbridge <fe Pitts. KE.117»3
Bonds.
90
2'« Iowa Land & Loan Co
$20,000 New York 6s, Aque50 Great West. Marine Ins.
130i4&int
duct, 1900
Co. (In liquidation, $30
ler share paid)
6
$11,000 New York 63, Dock,
139%&lnt.
1905
3 Warren RR. Co. (guar.).. 160 "a
$860 Long Island City Imp.
28 Central N. J. Land&l
Certificates
$625
Imp. Co. (old stock(.. $2806
ai
$10,000 Gold & Stock Tel. Co.
$6 Central N. J. Laud & ]
lOS&lnt
6s, 1895
Imp. Co. (old stock),
$30,0UO CinoiuLatl73joS,1902
scrip
J
13214 &int.
1,313 Bayoune&Grecnv.Gas491210 58 $1,000 Lehigh & Wllkesarre
lishtCo
Coal Co. 5s 1912
985t
50 Commouwealth Ins. Co. 95
66
$3,054 Bayonne& Greenville
50 Liberty Ins. Co
Gas.L. Co. 6s, scrip. .43 & int.
280 Metiopolltan Lite Ins...
121-127 $540 Atlantic Mutual Ins. Co.
IO314
6s, scrip of 1887
10 Ostrander & Loomls Land
11
$3,000 Central Park N. & E.
&Live8tuckCo
11958
1902
& int.
Riv.RR.7s,
City
&
Bergen
Pt.
36 Jersey
1
$1,500 Bayoune Imp. 5s,1891
Plank Road Co
101
Int.
&
14
Traders'
Ins.
&
eOMech.
$21
$5,000 Ostrander & Loomls
Co. (56 % pd. in liq'datn)
Live
Stock
Co.,
Co....
Land
&
Julian
Gold
Ml'
1.000
J
83 & Int.
Texas, 6s., 19063,000 Bos. Hartf. &ErieRR.. $125
$l50SuuMtit. Ins. scrip...)
$17,500 Virginia 3s, funded..
64i4&lnt.
„.
1,050 Gold Hill MiuiugCo ...
** $11,000 Bankers' & Merch'ts'
)fc78 Washington Ins.Co. scrip- f
1
Tel. Co., gen. mort
2,150 Ken- Farm Oil Co
J
$4,500 Arkansas 7s, Levee,
20 National Life Ins. Co
3=8
1901
1.200 Vanderberg Mining Co.
$2,C0D Southern Central RB.
300 Mud Creek Val. Oil Co...
Co., IstM. 58, 1922
$51
10 Coleman Farm Mill Co
$1,155 Susqueli. & West. ER.
1 Cert. Motnb'thip Produce
87is
Co., IstM. 6s, 1896
Exchange
$1165
270NewJersey&N. Y. BR.. 2
$4,000 La Grange, Mo., 8s,
1901
49
200 N. Y. Peiiu. &0. RK. pf..$51
154 N. Y. Arcade R'way Co.. 70
$3,000 Coal Creek Mining &
113
Mau. Co. 68, deb
100 Standard Gas-L. Co., pf ..152
188
5 Hudson River Bank
$2,000 Jersey City 7s, Water,
128% &int.
1913
90 Bank of America
186>a
71 Tradesmen's Nat. Bank..l03i4
242 National Broadway B'k..
.
.
.
I
Wn
I
.
',
.
1
.
.
7315
HOLLAND.
BesoureM.—Bonds and mortgages. $31,500; stock Investments, $500,?;"'<""'"o?''<'dpucnllaterar,
$1,0^7 ,42,^; cash on deposit, $119522'
5i,!«
Broadway.
Co., 120 Broadway, have added to
their banking business an "Investment Depaitment,'' which
will be conducted by Mr. Henry S. Redmond, formerly of 44
and 46 Broad ^^ay. Mr. Redmond is so well known in financial circles that words of commendation are unnecessary.
is
—Messrs. Harriman
I
CITY.
Resources.
Bsntis and mortgages
Stock investments
—
YORK.
Setourea.
Bonds and mortgages
—
Mutual Benefit
$1,000,000
1,050,000
148,489
20 328,413
1,504,952
Capital
aggregate 1126,082,153, a gain for the year of $7,273,301, and
are invested as follows
Bonds and mortgages
$49,617,874 02
In United States and other securities
48,616,704 14
In real estate and loans on collateral
21,786,125 34
Messrs. Maitland, Phelps & Co., offer for public subscription $2,500,000 East Tenn. Va. & Ga. R' way 5 per cent gold
bonds. At the subscription price of 90 per cent, they yield
the investor over 5J^ per cent per annum. The issue is limited to $6,000 per mile, and the promoters, in view of the company's large earnings, consider the security beyond a doubt.
The company's consolidated 5 per cent bonds, which immediately precede them, are selling at about 104 per cent.
The Mutual Benefit Life Insurance Company of Newark,
N. J,, has issued this week its 44th annual statement, showing
a large business for the year just closed. There were 7,388 new
The figures given in the statement indicate a
policies issued.
sound and prosperous company. The New York oflice of the
WE
OFFER TO INVESTORS CHOICE
AND
FIRST
MUNICIPAL
MORTGAGE RAILROAD BONDS,
'
NASSAU OF BROOKLYN.
$299,600; stocks, $458,735; loaned
A^.^n^r'"7^£?^.S''A?'','''«"ees,
oncoiiaterals !(,i.449,750; loaned on personal securities,
$2»,500: cash
*^''''^7 46; otiier assetr$26,ia8 49:
t^t«i'"PSltin*^?5'}!!2 2,*' <"? .''«•"''
•''®'*^'!-..-^*"''"""*-'^"P"al>
*o00.000;
undivided
profits,
aSooi-',.^^*"*' ^^-^^^-^^^ *8; other liabilities, $9,797 64!
lite?, $2 4&0 ees'ig
PAYING FROM 5 TO 6
'
1-2
PER CENT.
ORISIV^OLJD A OIL.L,ETT,
3
WALIi STREET,
N.
IC.
:
:
FinRUABT
2,
THE CHRONICLE
1»89,J
The followtnc (Uvldencls hare reoentlr been annotmoed
Per
of Company.
OerU.
Booke Ototd,
irA«n
Payable.
(Day ineiueive.)
4M P»r Cmtt due
Knllroads*
Atlanta
.<!
Chlea^ro
&
ChloaK"
&
Wiat
Delaware
I'oiiit
Kafll. III. i>ref. fquar.).
Inil. Coal jirvf. ((xtmr.)
ConnpctU'iit
A:
A riissuinpalo pref.
Iliulxon (qiiar.)
Malionint; Oual
Maine Central
Mannan-lppl
Mew York Prov.
Peuilgewacaet
8
Jan.
1»«
March 1 Feb. 10
March I'Fob. 10
2^
1%
,
3
,
3
A
161
United States Bonds.— OoTernment bonds hare b«en dull
as a rule on the Stock Exchanfje, though prices are well maiataincd and the 4s are a trifle higher than last Friday. The
Secretary of the Treasury continues to buy all the 4i< offered
at 109, the total for this week being 12,333,300.
The offerings of 48 are very meagre.
Following ia this week's statement
'ght gattlijers' ^a^jettje.
D I V IDEN DSi
Name
:
.
Boston (quar.)
2Hi
2>a
3
Bank*.
Corn Exeliauiie
New York National Exohango
5
3
10
Feb.
I'Jan.
March
1'
Feb.
Feb.
1 Jan.
Feb.
Feb.
Feb.
4 Per OetUe diM 1907.
1801.
Offeringe, Pureh'ee. Prieeepatd,
15 Feb.
2
to Mar.
to Mar.
3
3
to Jan. 31
tsai.ooo
..
Monday
ll.S.SOO
Taesday
Wedn'sday.
I.IW.OOO
Thufflday...
8U.0O0
Friday
486.000
«08,000
. . .
27 to Feb.
3
to Feb.
1
11 Feb.
Saturday
2 to Feb. 11
1
Total.
..
BlnoeAp.i3.
.
Feb.
1 Jan. 27
[On dem.
to Jan. 31
The
luaii ranee.
8.301.300
tssi.ooo
108.300
201,000
too
109
108
108
109
109
181.000
800.000
4S4,000
/Ttnte. Pureh'u.
«
2,(SO0
«,600
MO
eoo
40,890
2.885.800
109
6V33S.480 106X-109H
closing prices at the
PrieeepeM.
*
48,830
51.S9e,«80
iM-Tolise
N. Y. Board have been as follows:
On dem.
Ixtng Islniid I'he
We«tolJe^ter Fire
IfllBcollaneoiia.
Feb.
Ediron Klec. Illiiminatiug (qiiar.)
Heodorgoii Urliit,'o
_
Pennsylvania
insrlvania Coal (quar.J
(quarj
Providence & Stonlntr. 88. (quar.)
Pnlted Stales Kipress (quar.)
1
I
I
4
2'«
1'4
Feb.
Feb.
Feb.
Feb.
Feb.
Jan. 18
15 Feb.
1
1
Jan. 29
11 'Feb.
15 Feb.
2
2
to Jan. 81
to
to
to
to
to
Feb. 15
Feb. 1
Feb.
1
Feb. 11
Feb. 15
Intereei Jan.
Periods 26.
4>M, 1891
4>s«, 1891
48, 1907
48, 1907
reg.
109
oonp.
'109
Jan.
Jan.
Jan.
Jan.
28.
29
30.
31.
1.
109
109
109
109
'x07''»
•107^
>10»
'109
128
128
120
128
•109
•127 <li
'128
•127<I»
109
reg.
•l'27\
coup.
reg.
reg.
127 'e
120
128
I2SI4 •12s
Aft.
120
120
120 n20
18S9-3 P. m.
12'2
68, our'cy,'96
122
122 122i« 122 1«
122
The Mouoy Market and Financial Sltualion.— There has 68, our'cy, '97 reg.
'125
125 13 •125 la 12.^19 1251a 125 >t
'128
reg.
I28ia('l-28iai 128 >i '128i9*128>a
been a buoyant market in bonds this week, and large buying 68, our'oy, '98
68, our'cy.'99
reg.
131
'isml'iaiul 13Ha '131'a'13Ht
for home and foreign account and not a few bonds taken
* This Is the pnoe bid at the moruiug ooacd
nu gale #as made.
on speculation.
Stocks finally shared in the better tone, and
State and Railroad Bonds. State bonds continue dull and
the market to-day waked up to a cheerful activity all around.
The events of the week having the most important bearing the business has been even lighter than in the week previous.
on our financial situation were the President's meeting in Chi- Prices have not changed materially.
The demand for railroad bonds has been stronger than ever,
cago and the Atchison statement issued last Monday.
and shows a much heavier volume than last week, with prices
The meeting of Railroad
WAl^L, i^TKKET,
KKIDAV, February
6», our'cy,'95
1.
;
—
Presidents appears to have been
one of great unanimity of sentiment, as out of the many
roads represented only one, the Chicago
Burlington &
Northern, refused to sign, and even the officers of this
company did not disapprove of the terms, and only
wanted the " 8oo " and other northern lines to become partie8._ The Illinois Central was not represented at the meeting,
but it is said they will maintain the rates as established. The
agreement becomes binding when signed by the officers of
twenty-two companies, and there seems to be little doubt of
its strength, backed as it is by leading New York bankers,
and promising everything for the railroads which any mutual
contract could give them. There remain, of course, the
questions of inevitable competition and of activity in the
bHsiness of the country, to be determined as the year goes on,
but these are merely the usual chances pertaining to the railroad situation, and they are matters quite different from the
demoralization brought about by rate-cutting.
The Atchison statement for eleven months ending November
80, 18S8, was better than the current rumors would have led
one to expect. In a word, the Atchison road proper had
11,066,000 over its charges, paid 12,62.5,000 in dividends, and
therefore had a deficit for the period named of $1,558,999;
the auxiliary companies had a deficit of $3,000,000, paid
$1,800,000 by the sale of their own bonds, &c., and left
Atchison to pay $1,200,000; thus the total cash deficit of
Atchison for eleven months was $2,758,999. The company
promises a
full
statement of forty pages in about ten days,
which will be awaited with interest.
The open market rates for call loans during the week on
Stock and bond collaterals have ranged from 1^ to 4 per cent,
and to-day the rates were 2®3 per cent. Prime commercial
paper
quoted at 4<g)4i per cent.
of England weekly statement on Thursday showed
a gain in specie of £378,000, and the percentage o"f reserve
to liabilities was 46-28, against 45-83 last week; the discount
rate was red uced from 3i to 3 oer cent. The Bank of Prance lost
1,925,000 francs in gold and gained 8,350,000 francs in silver.
The following table shows the changes from the previous
week and a comparison with the two preceding years in the
averages of the New York Clearing House banks
is
The Bank
1889.
Jan. 26.
Capital
Bnrplug
Loans and
Diffyne'e fr'm
Prev. Week.
Beaerveheld
Bnpplos regerve. ..
1887.
Jan. 29.
60,762,700
.'>2.402.600
dlsc'ts. S!(2.S21.900 Inc .3,406,400
,
^>eole
88..'i50.'20O Ino.2iS8i;56o
Clroulatlon
4,734.000 Deo.
90,3'.)0
Het deposits
Legal tenders
Legal reserve
1888.
Jan. 23.
256.068,100
83,30S.800
7.579.700
424,324.800 luo .7,487,000 378.247,900
37.545,800 Inc. 975,500 34,512,000
106.081.200 Inc. 1,871,750 94,561,975
353.051.000
92,851,600
7,825,000
382,90 1,-00
25,187,300
95,740,450
26,09(i,000 Inc .3,857,000 117,820,80O|118,038,'J00
20,014.800 Inc. 1,985,250
Exchange.—The
23.258,8251 22,293,450
sterling exchange market has been very
dull all the past week, and there has been little demand and
no feature of Importance. Actual rates for short bills have been
a trifle easy in tone, but long sterling is kept stronger by the
continued ease in the London money market. The Bank rate
was reduced to 3 per cent, and sight bills i
our exchange I
market declined to 4 89.
*
generally advancing.
There has been a rise in nearly everything on the list, and the market has been remarkably buoyant.
The demand for investment and the sharp advance in prices
are even more conspicuous now than they were a year ago, when,
it will be remembered, there was a similar movement in bonds.
This is partly accounted for by the fact that there are not now
so many new issues floated by bankers and sold privately as
there were then, and consequently investors have to be supplied in the open market, making the business very heavy on
the Stock Exchange. There have been a number of special
features, the most prominent being the Reading 4s and
incomes, all of which have been taken very largely, both for
home and foreign account, and all advanced in price more or
or less.
Fort Worth & Denver Ists have been very active and
advanced sharply and all the Chesapeake & Ohio and Richmond & Allegheny issues have also appreciated on a good demand. M. K. & T. 53 and 63, after further depression early
in the week on rumors of foreclosure have shown more strength.
;
—
Railroad and Miscellaneous Stocks. The stock market
was only moderately active, and speculation turned
somewhat towards bonds' The course of stocks has been
rather irregular, though as a rule a firm tone has prevailed,
and in some cases positive buoyancy has been shown. There
has been very little news, and prices have* fluctuated as they
were affected by the influences bearing upon one group or
another.
The bearish talk has still been heard in the market
and drives were made against certain stocks at times, though
early
noteworthy that there has been a strong resistance to the bear
attacks and an undertone of strength which has prevented any
serious effect on prices.
The great demand for the investment of capital in bonds of all kinds and dividend-paying
stocks, and the extreme ease of the money market, both here
and in London, where the Bank rate was again reduced, are
favorable features that are not without much influence on the
stock market. Then, too, the final consummation of the
Railroad Presidents' agreement at Chicago this week, though
generally expected and largely discounted, is an important
factor in considering the future, and on Thursday it was
reported that the Vanderbilts had purchased control of the
famous South Pennsylvania Road for the purpose of turning it
over to the Pennsylvania.
The feature this week has been the rise in certain specialties
among the dividend-paying stocks. Pullman touched its
highest price (199) early 'in the week, but has since reacted a
little.
Delaware <& Hudson also further advanced, and the
annual statement, issued this week and showing 13-65 per
cent earned on the stock, accounts for the advance in this
stock which has recently taken place.
Another important
item in regard to Del.
Hud. is the resolution of the directors
to return to a 7 per cent basis next year.
Cin. lad. St. L.
Chicago, C. C. C.
I., Rome Watertown
Ogdensburg, N.
it is
&
&
&
&
Y. Ontario & Western, N. Y. & New England and the Richmond Terminals have been conspicuous for advances on an
active
demand.
Atchison has been
urday and Monday
conspicuous of late, though on Satshowed renewed weakness, followed
since by a recovery and more firmness.
Missouri Pacific also
had a sharp break on Monday, but it, too, has fully recovered,
atid to-day there was general activity at the Stock Exchange,
with large sales and strong prices prevailing.
less
it
...
THE CHRONICLR
152
810CKS—PRICES AT
N.Y.
STOCK EXCHANGE FOR WEEK ENDING FEB.
1.
AND SINCE
HIGHEST AND LOWEST PRICES.
BTOCKB.
Active
K«.
Baturday.
Jan. 26.
Stocks.
iim
Atchison Top. &SantaFe
&
Atlantic
*x50% 511a
Canadian Pacitlc
Canada
5014
Piicilio
Soutlicrn
Central of New Jersey
Central Paciflo
Cieaapoake
&
51
51
97-8
3513
97">)
'io^
Tuesday.
Jan. 28.
Jan. 29.
Jan. 30.
48
49%
50=8
4933
50%
8
8
8
8
7%
5178
51
51
97 14 93
3«
36
'18% 19 14 •18
O., reorg. cert.
5038
7%
51^8
I914
51% 51%
5II4
51%l
98
98%
36%
•36
Sales
of the
Wednesday, Thursday,
Monday,
19% 19%
Friday,
Feb. 1.
Jan. 31.
49% 51
•7% 8%
51% 52%
8
51% 51% 52
52
51% 5178 513.4 52%
97% 98
97% 98
•36
36% 36% 36%
19% 20
20
20%
17
17% 17% 17%
18% 18% 18% 18%
109 109% 109% 1097a
42^8 42 7e
42% 43
9559 95=8 95% 96%
6178 65%
647., 65%
102
02 102% 102% 102 7e
107 107% 107% 108
8
52% 52%
52% 53%
977^ 98%
x35% 35%
20% 20%
Week,
Shares.
122,407
Kiij
*17
reorg. cert
2dpret. reorg. cert.
1st
tiref.
lOk!
18
em
5.985
4,670
.
. .
.
'.'
148
110
'145
148
*109% 111
111
76
76% 75
135 13514! 135
•lis
1889.
Range Since Jan.
Lowest.
58
4773 Jan.
50%
94%
Jan.
Jan.
2
Jan.
4
.Tan.
16
1
36%
1
19% Feb. 1
111% Jan. 15
43% Jan. 2
97
Feb.
Feb.
Jan.
109% Jan.
112 Jan.
lOO'a Jan.
16% Feb.
3734 Feb.
31% Jan.
96% Feb.
101 Jan.
64% Fob.
27% Feb.
144% Jan.
17% Jan.
45 Jan.
9% Jan.
67% Feb.
23% Jan.
95 Feb.
7% Jau.
116% Jan.
29 1" Feb.
17 7^ Feb.
55% Jan.
106 Jan.
93% Jan.
59% Feb.
42 Feb.
95% Jan.
88% Jan.
60% Feb.
98 Jan.
6 Jan.
11% Jan.
14 Jan.
75% Jan.
8% Jan.
81 Jan.
110% Feb.
19 Feb.
74% Feb.
43 Feb.
29% Feb.
67% Feb.
47% Feb.
1878 Jan.
9% Jau.
31% Jan.
18 Feb.
527a Jan.
26% Feb.
66%
106
Jan.
Jan.
Jan.
3;t
J;m.
30 .<4 Jan.
8973 Jan.
!M% Jan.
5"t 1- Jan.
2l;<4 Jan.
139% Jan.
16% Jan.
42% Jan.
8% Jan.
63 Jan.
21% Jan.
14
Jail.
4% Jan.
113
27
16
Jan.
Jan.
Jan.
51% Jan.
10178 Jan.
9934 Jan.
56% Jan.
37% Jan.
90 Jan.
84% Jan.
51% Jan.
91% Jan.
5% Jan.
11% Jan.
1234 Jau.
70% Jan.
Jau.
8
8178 Jan.
107% Jau.
I714 J.an.
6734 Jan.
37 Jan.
2634 Jau.
61
Jan.
4234 Jan.
11% Jan.
8% Jan.
32% Jan.
16 Jau.
19% Jan.
25 Jan.
59 Jan.
21 Jan.
30% Jan.
22 Jan.
47% Jan.
22% Jan.
76 Jan.
93 Jan.
23 Jan.
61 Jan.
110% Jau.
39% Jan.
9473 Jan.
9858 Jan.
19% Jan.
62% Jan.
12% Jan.
21 Jan.
59% Jan.
.Tan.
Jan.
2034 Feb.
18 Fob.
100
96%
29
1889.
8% Jan. 14
53% Jau. 2
53% Jan. 14
110%
86
1,
Highest.
7,725 17% Jan.
1,910 11% Jan.
1,210 15% .Tan.
9,512 107% Jan.
2,260 42% Jan.
7,171 94% Jan.
71,102 61% Jan.
5.915 100%,Tan.
38,000 106% Jan.
,
'145
1.
700 35% Jan.
. .
Adams
JAN.
160
7% Jan.
810 51 Jan.
16% 17
16
16
177a 18
•17
ISifi
18
19% 19%
18
110% 111
OMoago BurUngton & Qutucy. 108 ?i 108% 108 13 10915 109% 110
4273
43
43%
*42ia
42%
42%
43
43
Ohloago & East, minols
95 14 951s 95% OS's
95 14 95 14
96% 9"
pref
Do
6418
6518
6473
65%
65%
66%
Paul.
641s
Chicago MUwaukee & St.
103% 103%
pref. 10113101% 101 13 102
102% IO2S4
Do
106=8
10714
107%
109
107
107%
108%
106%
Chicago & Norm western
'141
142
111 141
142
142 112 •141% 142
404
pref. I4II4I4II4 '141
Do
__
98% 98% 9878 98% 100% 14,431
9714 97%
97H 98 14 98% 98% 98
Obloago Bock Island <fe PaoiHc.
*13ia 151s -12
14% »12% 14% 15
15
2,050
15% 15% I6I4
OUOSKO St. Louis APittsburg- *13
'31% 36% 35% 36
*34
34
35
prei.
34
34
36
36% 37% 1,884
1)0
3218 321*.
32
32% 32% 32
32
32% 33
33% 1,625
•Si's 321.4
OUcago St. Paul Mln. & Oiu
•91
le
•91
pref.
95
93
92%
92
92%
91
95
92%
93%
96% 1.630
Do
92 19 92%
92% 93 14 94
95% 96% 9878 99 101
100 101
13,926
Olnolii. Ind. St. Louis & Cliio..
5838
Ciu.&Indlanap.
57%
5838
58%
58
57%
59%
59%
63
63
61% 22,473
58
Cleveland Col.
25 14 251s
25
26
26% 25% 26% 25% 26% 26
6,259
25
27%
Cotumbug Hocking Val. &T0I.
11078 112
129,38S
Delaware LackawannaA West I4014 1401s 13913 11038 140% 141-'^ 140% 14138 140% 141
•16% 173e 1H.T8 16% •16% 17% •15%
43
Denver it Rio G. assessm' t pd
pref.
•4378 44% *43% 44%
44
44
100
Do
42% 42% •42% 43%
*8i3
*8%
8% 9
878
•8% 9%
400
9
8 7s
9
9 . 19
9
Baat Tennessee Tsi. & Ga. K'y
•64
Ist pref.
65
64
63
63
67
65
60
64
6«
67
Do
67% 1,035
•22
2d pref. *21l3 22
22
23
Do
21% 22
22
23
23
23
23
1,000
•85
Haute
*85
•85
86
EvansviUe & Terre
86
86
86
87
2,720
88% 92% 92% 95
•5% 5%
514
518
Green Bay Wmona& St. Paul.
5% 514 •5% 6
5% 5% 1,400
Illinois Oeutrai
114 114
1,454
114 114
115% 116% 116 116% 114*78 1147s 115 115
Kingston* Pembroke
*26% 3OI4 _!G34 301^ •26 14 30 14 •26% 30% •26% 30% 29% 29%
100
•16
1634 16%
1678 17%
Lake Erie & Western
16
1658 17
16
17% 177e 7,02i
161s
'53
pref
5314
Do
53% 535^ 53% 55% 51% 547e 54-% 55% 55
55% 10,327
I<ake Shore & Mlcli. Southern. 101^8 102
102% 1021$ 10238 102% 102% 1025f 102% 103% 104 105
48,315
Iiong Island
•91
92
913s 91Js
91% 91% 91
91% 91-% 91% 1,210
913a 913s
57I4 571s
Xx)ttlBvllle & Nashville
5778 58% X5738 58
57
57% 58
58% 59% 13,820
573t
*36
•36
Ijoulg. New All). i& Chicago...
•30
•36
40
43
300
43
43
42
38% 40
42
Manhattan Elevated, cousol.. *92ifl 931s 92% 92% 92% 93
94
94% 91
1,337
91
91
91
Michigan Oeutrai
85.'<8
85
85
85
85
85% 85% 85% 86% 86% 88% 7,870
855f
Mil. Lake Shore * West
•55
•56
*r)5ia 60
*56
56
56
60
60
60
300
60% 60%
Do
pref
*92
9234 92%
94
91% 92% •91% 94
92% 92% 94
1,687
96
•5
*5
•5
"5
Hlnneapolls & St. Louis
6
6
6
6
6
100
6
Do
•10
pref
•10
•10
10 15 10 15
15
15
15
Missouri Kansas & Texas
13
13
13% 13% 13% 13% 13
13
2.835
13
13% 12
13%
Missouri PaciUo
71^8 721*
70% 72 14 7158 72% 71% 72% 7178 73
65,670
72% 74
MoblleA Ohio
-8
•8
'8
'8
•8
•8
9
9
9
9
9
Nafih V. Chattanooga <& St. Louie *82
•83
833.1
83
83
83
i',.5b6
83%
83%
83%
83
83%
83%
Kew York Central & Hudson. 108% 108% 10838 1087e 10878 109 109 109% 109% 109% 109% 110% 3,802
'I7I3 IHI4
Kew York Chlo. <Sc St. Louis.
17% 18 14 18% 18% •18
1,950
18% 18% 187s IS 7a 19
Do
1st pref. *70
'70
72
70% 70% •70% 72
481
72
71% 71% 73
74%
Do
2doref.. *38
•38
40
40
40
40
1,300
38% 38% •38% 41
41
43
28I4
Hew York Lake Erie <fe West'n 28
28% 2838 28% 285^ 28% 28% 28% 287s 29% 29% 25.3-,!'J
Do
pref.
65
65
64% 65
6478 6536
65% 65% 65% 66
66
67% 4,895
Kew York A, New England
45
44% 4536 45
45% 45% 46% 4579 46% 46
451s
47% 64,830
Kew York Ontario & AVeat
15-'8 16
167p
18'
16
1658 17
1(;% 17
17
187? 33,160
18%
New York busq. & Western
*858
8% •8% 8%
9
9
9
9
9
9
8%
8% 1,115
Do
pref. *33
33 "s 33
33
3338 337t
33% 33% 33% 337, 33% 31% 4,175
Worfolk& Western
•16
•10
18
17% •16
17% 16% 16% 16% 17% 17% 18
950
Do
pref
51
51=8 51%
52
D'J
511s
523s
52
52
52
52% 527e 3,154
HorthernPaolflo
25 14 2514 25
2514
25%
25% 25% 25% •25% 26
4.443
26
26%
Do
pref
5958 60
5938 59%
5978 60%
60% 60% 60% 60% 60' 61% 22,025
Ohio & Mississippi
21% 22
2178 22
22
22% 22% 2278 4,275
22% 22
Or*gon ATrans-Contineutal..
3058 3078
30% 30% 30% 31
3078 307e
30% 31% 31% 31% 19,605
Peoria Decatur & EvansviUe. •23
•23
21
23% 23% 23% •23
24
21
21%
2,360
21% 25
PhUa. & licail. Vol. Tru.st. Cert.
47."-s 48 3(.
47 "8 48
48% 49
48% 48% 48% 48% 48% 49% 139.570
RlohnioudifeWestP'tTermina!
23 14 237t
2258 233*.
2378 24%
25% 25% 26
24%
24%
21%
49,770
Do
pref.
_
76
77
77% 78
761s
78
78% 78% 79% 81% 81% 82% 5,810
Kome Watertown & Ogdellsb'^ 99
99
•98% 99% 100 100
2,030
101% 102% 101 103% xlOl 101
Be. l<>uis & San Francisco
•2113 25
245, 25% •21
247a 24 7t
25% •24% 25% 25
1,800
26
Do
pref
6213 62 \
6214 62%
6238 62%
61
62%
62
63%
9,320
63%
64%
Do
Istpret. xllO nils 110% 110% 110% 110% 110% 111
110%
111%
324
110%
110%
Bt. Paul & Duluth
•39
39% 39%
40
40
•39
325
39% 39% 40
40
Do
pref
*93
•03
•93
95
95
93
95
05
Bt. Paul Mlnneap. & Manitoba
lOOTg 1007, 100 100% 10078 101
4,<t85
'100 101
10378 103% 105
101%
Texas A Paciflo
1938 20
19% 20
20% 20% 20% 20% 20% 20% 21
22% 15,765
Union Paciflo
62% 63
62% 63I4 63% 637e 63% 63% 63% 64% 61% 65
30,0 <7
Wabash et.L. APaciHc
•12% 13
121a 121$ •12% 13
•12
13
12%
12%
1378
925
13
Do
pref
25
25
•2458 253^
25
*21%
25
25%
25
25%
2.000
25%
27%
Wheeling & Lake Erie, pref..
63% 6II4 6414 647e 6458 66% 66% 07
67%
66%
67
67%
10,988
iniscclianeoua Stocks.
ColoradoCoal & Iron
29% 29% 2973 30
30^8 31
30% 30% 3058 31% 31% 32% 3,062
!"
Consolidated Uas Co
82
82
81% 82
8178 817s
82
82% 82% 82% 3,387
817e 82
Delaware & Hudson Canal".. 13614 136% 136
136%
137%
1367f
138«6 137 138
137%
137% 13778 12,282
Oregon Iun)rovementCo
69
69
70
70
69
7(.
69
•69%
70
70%
70%
70% 70% 1,160
Uo
pref. '105
_
108
100 106
106%
106%
106
106
107%
358
107%
106% 107%
Oregon Railway A. Nav. Co..
•91% 92% 92I4 92% 92
•92
92
02%
92% 92%
92% 94
1 ,605
PacittcMaU
•36
'"
37
3534 36
36% 36% 35% 36
36% 37
8,685
367fl 38
Philadelphia Co., Nat. Gas
78
78
*77% 78% 79
•77
79
78% 79
140
79
Pullman Palace Car Co. .
194% 195% 195% 199
190% 199
197 197% 197 197% tl95% 198
15,079
Western Union Telegraph
8438 81%
8438 845j,
8438 847,
84% 85% 85% 85% 85% 86% 45,545
Kxpress Stocks.
Do
Do
XLVin,
[Vol.
61%
1
1
14
15
21
14
1
1
14
1
31
1
1
2
14
1»
11
1
4
1
2
15
1
1
2S>
15
3
1
1
14
14
1
7
16
18
14
14
12
16
1
31
15
14
1
16
Fell.
1
2273 Feb.
1
31%
1
25
50
26
82%
103%
Beb.
Feb.
1
Jan. 15
Feb. 1
Feb. 1
Jan. 31
26% J.in. 15
6678 Jan.
Jan.
111%
2
12
40% Jan. 14
95% Jau. 18
105
23
65%
Feb. 1
Jau. 14
J,in.
137a Feb.
8
7
1
27% Feb.
67% Feb.
1
32%
1
Feb.
1
80% Jau. n 85 Jan. 16
130% Jau. 9 138% Jau. 30
68
103
92
Jau.
Jan.
Jan.
35% Jau.
78 Jan.
172 Jan.
83 Jau.
25
11
2
30
72% Jan. 16
107% Jan. SO
91
38
Feb.
1
I'^b.
1
2
18 81% Jan.
3 199 J!vn.
2| 80% Feb.
28
1
FeT).
1
Jan.
Jan. 4 76% Feb.
Feb.
Jan. 19 112
2
82
82
82% 82% 83
83%' 85
85% 85% 85% 85% 2,238 80% Jan. 5 SG Jan.
86
Chicago & Alton
,*137
140 '137 140 '137 140 137 140 '137 140 1*137 110
136 Jan. 2 140 Jan.
ChJoaio (Jhs Trust
35% 35% 35% 35% 3i% 35% 31% 34% 35
36% 36% 36%' 2,809, 34 Jan. 16: 38% Jau.
Cincinnati Wash. 4 Baltimore^
~8
*%
78
78
%'
•%
7, Jan.
%
1501
% Jan. 25!
.
.
.1
DO
pref.
.^
*1% 178
*1% 2
178
I'a
•1%
2ii Jan.
l%Jan. 3
2
175
Denv. Tex. <t Ft.W.,Vot.curt. 16
17
17%
17%,
17%
17%'
Jau.
17
20
18
19
18
13
19%| 3,068 15 Jau. 25
Monls & Essex
146%
21 141 Jan. 5 117 Jau.
K. T.NewHaveu & Hartford'. 245" 255" 116%
256"
252"
250
•!
250
252%'
Jan.
253
252
25o" 250
186 2 11% Jan. 7 256
Ohio lii,ii;i„;,
Western
12
12
12% 12%
200,
9% Jan. 5 121-j Jan.
Oregon Short Line
"i'>'u "ii'u '42% "42% •12
44
42% 42% 12% 43% 41
44% 1,'HO, 4178Jan. 23i 11% Feb.
Pitts. Ft. Wayne &Cluo
'lSo4 151 '150% 151
"
150% 150% 150% 1.50% '15013
151
15034
Jan. 11 15il»4 Jan.
150%
119%
3S5
Qolokgilvor Mining Co
*5^ CI4 ^5% 6%
6%
5% 5%
500
5% Jan. 30] 031 Jau.
0% 6%
Do.
pref....... '35
•35
37
•35
37
37
35
35
36% Jan.
160
35
J.au.
B'.ch. ai Allegh'y,Diexelreo. "14
•14
15
15
14% 15
•11% 15% 15
15
15% Feb.
15% '15% 1.230 14% Jau.
Bt. l/ouls Ark. A Texas
«8
•8
9
*.^
8%
8%
8%
10% Jan.
8%
8%
814 Jan.
8%
500
8%
8%
Cameron Iron A Coal
29
2914
28% 29% 28% 287g 28
2878 29%
29
29% Jau.
28% 29% 4,750 2 4% .Tan.
3>!. V. * l-eriv Cnnl & Iron....
2978 30
30
30 14
30% 30
30%
Jan.
31%
30%
30%
30%
30%
31
4,4.50 29
Jan.
Tennessee Coal & Iron
3113 3113
31% 32% 32% 33% 32% 33% 33% 34% 33% 31% 4,710 31 Jan.
35% Jau.
___1"' „^ ,
prof... *94
9513
95
95%
95
95
•94%
Jau.
95%
95%
93%
95%
95
93
Jan.
95
531
Jaiions Stocks, See. (Unl Isted.)
*im6r. Cotton Oil Trust
50
51
50% 51% 51% 51% ,50% 51% 51% 52
51%
52%
48%
.Tan. 10 53% .Tan.
53,811
yipe Line Oertifloates 1
873^'
Sd'^o 88
8(i'>a
S(!Vq «7i4
a.i7° 8«'^.
85
86% 85% 86% b.oSo.ooo 83.%j!Ui. 18 88% Jan.
Xneae tre ute privei bid uid asked; no tale vaa made at tbe
Board.
; Prices from both Exchanges.
t Lower price la ex dividend.
30
23
2
4
2
10
25
24
14
--••-.
American
United States
110
76
135
I
"'.['.
FargoA Co
""
Inactive Stocks.
American Tel. 4 Cable Co
Wells,
76%
136
148
111
j
148% 149
110%lll
75
76%
148
148
no 110% 111
75
75
76'f
140 •135 145
no
76%
135
•145
^145
76
140
140
I
I
I
.i-
I
I
5%
I
'-2
I
1
142
172 114% Jan. 2 149
314 109 Jau. 10 113
1,187
73%
620 134
1
1
1
30
3
17
il
11
31
11
2
14
2
25
..
Febrdart
BONDS
—
1
1
THE CHRONICLE.
2, 1860.1
LATEST PRICES OF ACTITE BONOS AT
Sange
Oioting.
M. T.
STOCK EXCHANGE. AND KAN6E SINCE JAN.
OtcMna,
iince Jan. 1.
I
Bailroad Sondt.
.^an.25
Highett.
t\b. I
20
21 >4
Inc., 68, 19101 !20>a
80 Hi
Guar., 4b, 1937
VAXo'.'^'J''*
Oao. Boutli.— l«l KUiir-, 5»' 1"'"' 10/ Hi 108
96
B*"*
Ab,
1913
2d,
Oentr»lof N. J.-l8t,7B,18eO.. 10«>4b. 103%
121>«1>.
b
122
1H99
Cod«o1.7b.
l'^4 b. 125 b.
Convert. 7g, 1902
Jan.
l(iS
Jan.
96 Jau.
lOiiia Jar.
121 .Inn.
125 Jnn.
no Jan.
119 Jan.
liO Jan.
1 1 5
Jan.
:Ui3ia Jan.
.Inn.
9314.11111.
103ie Pell.
J1.11.
Jan.
10638 Jiiu.
115i« Jan.
108 Jan.
USLb Jan.
102 la Jan.
105^8 Jan.
IOU'b
Mort. 6s, 19:J6
SZ^sa. 8S>«
79% Jan.
X3lie«. AO.-08,(?..R,rcorK.c6r..
7014 Jan.
£xt.coup.. 4e, ll'ttH.reoiK.cer. 82'a
»2
33
cer.
rcorg.
30%
29 V Jan.
e*, curreiicT, 1918,
US, , lleia 11314 Jan.
Mort. 6e. liJll
IOC
1911
lib.
...
\m^\}.
107
Jan.
5-6e.
Cliee.O. A8o. W.—
Oblc.Bur. A Nor.-lBt,58, 1926.|100i4l.. lOo^b. 98 Jan.
b.
131
1903.
131
»ab.
131
Jan.
78,
Con.
Olilo. Burl. A Q.—
|l(>4i«b. 106
104 Jan.
Dobeiit lire ."iB, 1913
92
b.
9414
1922
Jau.
Dlvls.,
48,
93hi^.
Denver
94^
04
Nebraska Ext. 48,1927
917e Jan.
119
118%1>.
b.
f,
6^,1907
118
Jan.
8.
Ohio. A E.IU.-lst,
I19i8b. 120»8
118 Jnn.
Con. 68. 1934
IOII9
1937
....
lOOU
Jnn.
97
Geu. consul. l8t, 58,
99 Jan.
Ohio. A Ind. Coal K., lat, 58, '36 98 "ab. 101i«
124
Cft.Mll. A St.P— 'on»«1. 7s, 1905 124
1221s Jan.
114 b. 112 Jan.
Ist, Boutliwest Uiv.,6?, 1909. ;il5
101)i4l>. il09'4
General raort.. 58, 1987
Len.*W.B..«m.7B,190ll,ae'nt US b. Ills b.
lOOMb. 109 "ab.
1921.
..
6b,
A
Imp.,
Am. Dock
Central Pacitlc—KOld 68. 1898.. ll-mu.
li'S'ib. 103 lab.
(is.
1890
Land (n-aiit
ll)6''8Jan.
U
b. U0>«
l8t. Bo. Mill. Uiv.-Us, 1910... 1
10d>4a.
Pat-.W.Dlv— 58, '2] 1104^8
l8t, Chi.
1
A
Wle.AMin. Dlv.-58, 1921.... lOO^ab.
101»ab.
Terminal 58, 1914
Ohio. A N. W.—toueol. 78, 101&ll46%b.
ISO's
Gold, 7b. 1902
Sinking fund Gb, 1929
J1I8 0.
109 '4
Sinking fund 58, 1929
Blnkingfund debent.Sa, 1933!10H%b,
88-veardebeiit. 58, 1909
Extension
4b,
1
ICo'sb.
llOO'a
1926
K. I. A Pac— 68, coup. 1917. 132 %a.
105 >a
Eiten. A col. 5b, 1934
Ok. 8t.P.,M. A O.— Cousol. 68. '301 1 2141
Oh.St.L.A Pitts.— lHt.oon.58,'32| 96 b.
Cleve. A Cimtun— 1st, 53, 1917.; 94
C. C. A lud.— Cousol. 79,1914 131 b.
112 b.
Oen.68,l<J34
Col. Coal A Iron— iBt, 68, 1900. 103%
Ool. H. Val. A Tol.— Con. 5b, '31 813i
Gen. gold, 6», 1904
82 %a.
Otol.
j
U
Denver A KUiOr.— l8t,78, 1900 120
l8tcon.48, 1936
77
A K. Or. W.- Ist, 6b, 1911. 84
Den.
iLBsented
Den. 80. Pk.
b.
110
103
8.''>%
1161a
110
99
1311a
106
11.114
!
Det.Mac.AM.— Ld.gr.3i«8,1911 30 b.
Dul. A Iron Kan^e— l.st,5.t,I937 99
£. I'eu. V. A (i.— Con.. 6», 19 56. 103
Bill. Lex. A B. Sandy— 68, 1902.:
Brie- Ist. cousol. gold, 7b, 1920' 140
Long Uook, 78, 1893
Ill b.
Con. 6s, 1935
iiaiisb.
H.Y.L.E.AW— 2dcou.68, 1969 1021*
Ft. W. ADeuv.C. -Ist, 6s, 1921] 9014
Feb.
Feb.
Fob.
Feb.
Jnn.
Jan.
Jan.
Jau.
Jan.
Jan.
Jan.
Feb.
Feb.
120 Is
101 la
101 la Feb.
124% Jan.
115
111
Jan.
Jan.
Jan.
JIOII4 Jan.
102 Jan.
147 Jon.
1132 Jan.
119 Jan.
Jan
Jan.
lOmb. 99 Jan.
101 'sb. 100 Jan.
143% Jau.
131^0. 1291a Jan.
119 b. 119 Jan.
109 34
lOMia Jan.
110-%b. iro
Jan.
luoad
Ho Jan.
101 b. 9i Jan.
133 b. 133 Jan.
105"^
10458 Jan.
I2II9 1191a Jan.
96i«b. 961s Jan.
95 14
921a Jau.
133 b. 130 Jan.
113 b. 112 Jan.
10116
100 Jan.
84I3
sola Jan.
84
82 Jan.
1119 Jau
77I8
75 Jan.
87 b. 841a Jan.
77 b. 73% Jau.
90 a. 81 Jan.
34 Jan.
100
96% Jan.
104
102 Jan.
100 b, 99 Jan.
141i« 113741 Jan.
1 12
b 110% Jan.
121 b, 12118 Jan.
103 14
98 Jan.
95
90 Jan.
lO.iia
K 9%
Feb
llOig Jan.
106J8 Feb.
in 1% Jan.
tlS3
Jan.
106 Jan.
121% Jan.
97 Jan.
95 14 Feb.
133 Jan.
Jau.
,113
105 Jan.
84% Feb.
84 Jan.
,12114 Jan.
78 Jan.
86 Jan.
7, ''8 Jan.
8 lis Jan.
341a Jan.
1(10
Feb.
10414 Jan.
101 Jan.
1
1
,
I
I
!
j
b
91I2
91 -la
I
[
I
A Pac— let, 7s, '05 79
33''e
!
I
b.
8.".ia
I
1
.
22 14 Jan.
HlijJan.
'
78>aJiiii.
lOdHi
120
125
1
'
:
UliflFof.
112 Jan.
122 Jan.
10314 Feb.
i
95
20
113
94i4Jan.
18 Jan.
b,
1.
Hig/i4§L
102
f., 68, 1911 ii'm
L.— Ist, 7e, 1913 129%b. Il3(»
Mutual Un. Tele.— 8.
Nash. Cb.
A
8t.
1938
N.Y. Central— Extend.,
Cousol.
58.
2d, oonsol. ,78, 1911
OhIoSouthem— Ist, 68, 1921.
..
111%
99 Jan.
129 Jan.
98"8Jan.
10114 Jan.
133 Jan.
102 Jan.
ISOieJan.
101% Jan.
lOG Jan.
Uliab
1
Oregon A Tranaoon.—6b, 1922..
Pcnn. Co.— 4128, coup., 1921
Peo.Deo.A Evans.- Ist, 6s, '20.
Evansv. DIv let, 68, 1920.
2d mort., 58, 1927
Phil. A Read.— Gen. 48, 1958...
Ist pref. Income 5s, 1953
2dpref. Income 58, 1958
3d pref. income ,58, 1958
103
108
103
103
4914
71iab-
b.
Co.— 1st, 6s, 1910 105% 106%
Ore. K.ANav.Co.— Ist, 68,1909 110%b. 11214a.
103%b. 104 lab
Oonsol., 5b, 1925
.
69
Klohm.
60%
77%
61
27
A Dan.—Cons., 68, 191,5
II5I2
86
Consol. gold 5s, 1936
b.
Kieb.A W.Pt.Ter.— Trust 68..'97 98
Koch. A Pitts.- Oons.,68, 1922.
Borne W. A Ogd.— Ist, 78, 1891. L'08'"b'
108 lab.
Consol., extend. ,58, 1922
10538
St. Jo. AGd.Isl.- 1st, 63, 1925
.
St.L. Alt.&T.H.— 1st, 78, 1894. H2%b.
10914!..
2d, M., pref., 78, 1894
105 b.
2d., M., Inc., 78, 1894
A
Ark.
Tex.— 1st, 6s, 1936
2d, 6a, 1936
Ir. Mt.— lst,78, 1892...
St. L.
2d mort., 7a, 1897
St. L.
9513
361*
109 isb.
10518
A
Cairo A Fulton-lst, 7a. 1891
Cairo Ark.A rcx.-lst,78,1897
Gen. Ry. A land gr., 5e, 1931.
St. L. A San Fr.- 68., CI. A,1906
68, Class B, 1906
6s, Class 0, 1906
Gen'l mort., 68, 1931
Gen'l mort., 58, 1931
8t.P.M.AM.— Dak. «xt.,68,1910
letoon8.,68, 1933
lOl^sb.
104
81
b.
llBHb.
1161a
11513
10238
102% Jan. 103% Feb.
70
9158
921a
8038
Plttsb.A West.— l8t,g..4s,1917
Rich A All.— Ist, 78, Drexel cert.
2d mort.. Os, 1916, Drexel cert.
103%
I
1
'
1
1
1
.
.
;
1
i
1
;
I
I
I
<
.
1
'
.
Jao.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
II5I3 J'an.
120 Jan.
105 F.b.
49 14 Feb.
7214 Jaa.
106% Feb.
II214 Jan.
10413 Jan.
1031a Feb.
1081a Jon.
106TeJan.
b.
.Ian.
102 <a
100
73
lOliaJan.
1031a
108
b.
b.
9*1%
llB's
18 ij
1 16^8
1141a
1
Jan.
% Jan.
641* Jan.
115 Jan.
119 Jan.
103 Jan.
44% Jan.
711* Jan.
IO414 Jan.
110 Jan.
102 Jan.
115 i«b. 116 b.
119 b
103 %b. 104>a
71
lUisJan.
10.)
Iiiipr.
—
13513 Jan.
111% Jan.
13113 Jnn.
94% Jon.
117% Jan.
134 Feb.
il:-.i6 Jan.
1031a Jan.
Jan.
97%
102ieb.
1021a
105
105 b.
7013b. 70 b.
-lat, 48. 1937..
Oregon
1
133 b. 133 t) 130 Jan.
93 1«
94 38
9158 Jan.
116>4b. 117isb, 116
Jan.
13313b. 134
131 la Jan.
111 b, 113i« Jan.
1 OS lab, 108 13b
108 Jan.
11312b, 1141a
112 Jan.
96 13
9518
94 Jan.
II4I3 Jan.
114>ab. 1151a
11814b, 1)814
11714 Jan.
116'ab llSiaJan.
116>a
H314 112 Jan.
1131a
45iaa.
2d,lno.,68,1921
St. L.
It.
(101%a.
1893 lOjieb. !lO0 b,
135 b. 1353ol).
N.Y.C. AH.-lBl, op., 7b, 1903
Debenture, 58, 1904
N. Y.A liar.- Ist, 78, 1900
(f.Y.Chlc.ASt.L.— 1st. 4», 1937..
N.V. Elevated- Ist. 7h, 1900
N. Y. Jjiek. A W.— l8t, 68, 1921.
Oonstruetlon. 5e, 1923
N. Y. ANor.-l8t, 58,1927
N. Y. Ont. A W.— 1st. 68. 1914..
N.Y.Siis.AW.— lstref.,58, 1937.
Midland of N. J.— Ist, 6s, 1910
Norfolk A West. - Gen., 6a, 1931
Nortli.Paolllc— lBt,ooup.,08, '21
Gen'l, 2d,coop.. 1933
Oen'l 3d. coup. Cs. 1937
N. Pao.Ter.Oo.— l8t, 68, 1933...
Ohio Iiirt.&Wcst.— 1st. 58,1938
Ohio A Miss.—Consol., 7s, 1898.
Omaha &
b.
1
101
r,r,
70
66
Jan.
8838 Jan.
Feb.
Feb.
59,'^ Jan.
76I4 Jan.
58 Jau.
2'(i8
26 Jan.
II514
114 Jan.
87
Jan.
96
Feb.
115
113 Jan.
108 b. 107 13 Jan.
1 iOifib. IO8I4 Jan.
107
104 Jan.
II212 Jan.
103%b. 110 Jan.
10514b. IO4I3 Jan.
9fil3
92 Jan.
36I3
35 Jan.
106 b. 108'8Jan.
10«
lO.j
Jan.
102isb. 102
Jnn.
101
llOl
Fob.
83 b. 81 Jan.
110 b. 116 Jan.
117 b. 115% Jau.
US lab. ,1151a Jan.
115i6b. I1513 Jan.
102%!). 101 14 Jan.
119 b. (118 Jan.
116%b. ll-^ia Jan.
100 b. 9814 Jan.
S6 b. 97 Jan.
89
8314 Jan.
90 b. 90 Jan.
31 Jan.
95 a. 90 Jan.
53 b. 47 Jan.
518 Jan.
9
10513 Jan.
iV3%b! 114 Jan.
105 13 Jan.
90
89 Jan.
90 b. 89 Jan.
91
88»B Jan.
36 Jau.
39
103
99 Jan.
103%b 103 Jan.
102 b. 101 Jan.
92I3 Jan.
95
116 b. 115 Jau.
102iab.
119 Jan.
120
109 b. lllia Jan.
110 b. IO9I3 Jan.
114 b. 114 Jan.
112 Jan.
1151b
Ul b. 112 Jan.
78% Jan.
85
3713 Jan.
401a
88I3 Jan.
93
87iab. 86 Jan.
93 b. 891a Jan.
93% Feb.
93%
89 b. 87 Jan.
86 Jan.
89
93 b. 89 Jau.
88 lab. 88 Jan,
105% 102% Jan.
9514 Jan.
96°8
39% Jan.
98''8 Jan.
IO214
103 b. 102 13 Jan.
9373
8714
7513
601a
8014
02ie
Jan.
Jan.
94
87
75
911a Jan.
8238 Jan.
62 14 Jan.
80 14 Jan.
fi2ia Feb.
2814 Feb.
115i3.lan.
87
99
115
10814
11018
107
114
110
104I3
97
3713
110
1061-2
103
105
Feb.
Jan.
Feb.
Jan.
Jan.
Feb.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
84%.Tan.
I
112 b.
98 Feb.
117 a.
95 Jan.
Or'nB.W.,tHt.P.— 2dlnc..SB,19ll| 18
21i2.Ian.
reduced to 4ia8.. 99%
Do
Galf Col. A San.Fe—l8t,78, 1909 log's
97 b.
CoUat. tr., 58, 1898
1061a Jau, 11.^ la Jan.
Gold, 68, 1923
9114
8Tia Jan.
Montana Ext. Ist, 48, 1937... 8518
76
7014 Jan.
Han. A8t. Joa.— Cons. 63, 19 11. 112214b. 122^1 I2014 Jau. Ii2% Feb.
Bhen.Val.— lst,78, l90»,Tr. rec. 90 b.
Hemierbon Br.Co.— 1st. 6a. 1931 llO'^b. 11014b,
3213b.
Gen'l 68, 1921, Tr. loe
Int. AGt.Nor.— 1st, 68,gold,'l9ll09 a. 103
90 b.
80. Carolina— Ist, 68, 1620
1C8 Feb. 109 1« Jan.
Coupon, 68, 1909
74 1« Jan.
73
2d, 68, 1931
71 Jan.
511a
79I3
Kent. Ceutr.— Gold 4e, 1987
77'*
10 a.
79% Jan.
Inc., 68. 1931
711a Jai.
Knoxv. AO.— 1st, 68, gold, 1925:102^8 10258 ilOl Jan. 103 Jan.
So. P»o., Arlz.-lst, 6s, 1909-10 105 lab.
L. Erie A W.— Ist g-, 58. 1937.. 108
IO8I3 ]107 Jan. 1081* Feb.
Bo. PacCal.— l8t, 68, 1905-12..
liakeSh.—Con.coup.,l8t,7s,1900 127''8 128
I0714
80. Pac.. N. M.— lat, 68. 191 1
I2514 Jan. 128 Feb.
Con. coup., 2d, 78, 1903
I125iab. 125 lab, 124
Tcun.C.I.A Ky.— Ten. D., l8t,C8. 8913a.
Jau. 1251a Jan.
Long Island- l8t, 78, 1898
89
il23 b.l
Birra. Div., let, 6s. 1917
iBt, oonsol., 58, 1931
'lis b, 11414 Jan. 1141a Jan.
Tex. A Pac.— Ist, gold, 58. .2000 88T8
36I4
Gen. mort., 4s, 3938
95ia
97 a. 9i'a Jan.
97 Jan.
2d, gold. Inc.. 5s, 2000
tiOa. A NaBU.-CouBol., 78, 18981119 b. 120 b. 118% Jan. 120
Jan.
Tol. A. A. A N. M.— 1st, 6s, 1 924. 99 14
"'
"
E. H. A N.— let, 68,
1919
116 b. 116 b, 110 Jan. 116 Jan.
Tol. A. A. AGr.Tr.— lat, 68, 1921 103
General, 6s, 1930
112 b. 11214 ;il2 Jan. 112% Jar.
Tol. A Ohio Cent.— 1st, 5b, 1935 10214b.
Trust Bonds, 68, 1922
110=8b.!ll2
ToLSt-KA Kan.C— Ist.Os, 1916 94 b.
1091s Jar. II a Jan.
10-40,68,1924
102 b.il02 b. 101 la Jan. 101 la Jan.
Union Paeitlc-lst, 6s, 1899....
50-jear 5s, 1937
jfei'.
IOI14
Land grant, 78,1887-9
102 b.
98 b.iom
93 Jan.
Lon. N. A. A Cb.-lst. 6s, 1910.
Siuklngfund, 8a. 1893
119%
I1214 Jau. 1141a Jan.
Oonsol., gold, 68, 1916
94
Pacitlo—
1895....
llliab.
„.
l8t,6s,
93 a.
1« Jan.
Kan.
93 Jan.
941a
Hem. ACb'lston— 6s,gold, 1924il01i3b. 102
109 lab.
1st, 68, 1896
b. '1021-2 Jan. 1021s Jan.
Metro. Elevated.— l8t,6s, 1908-1114 b 11513b. line's Jan. 114 Jan.
Div.—
Denver
68,1899
114 b.
Sd,6B, 1899
11313
10714
l8t consol, 6s, 1919
IO914 '1O6 Jan. 109 14 Feb.
Mloh. Central— Ist, con 78, '02 131 b. 132 b. 13114 Jan. 133 Jan.
Oregon 8h. Line -let, 68, '22.. 114i«
CODBOl. .58, 1902
Ill b.
Virginia Mid.— Gen. m., 58, 1936
111 Jan. III Jan.
mi. Lak 1 8h. A W.— 1 st, 68, 1921 118%!). 1191a 118% Jan. 119'V Jan.
Wab.St.L.AP.- Gen.,68,Tr.rec. 37 b.
Oonv. deb., 5s, 1907
92ieb.
93 kb. 93%
Chicago Div.— 58,1910.Tr.rec
951a Jan.
921a Jan.
lUlw. A Nor.-M. L., 68. 1910.. 108 "8b. lOSiflb, 1061a Jan. 10914 Jan.
Wabash- M. ,78, 1909, Tr. rec.
Extfusiou, l8t. 69, 1913
105 lab. 107
Fib.
Tol.A W.— lst,ext..7s,Tr rec
I10514 Jan. 107
Minn. A 8t. L.— Ist, 78, 1927...
l8t,8t.L.Div..78,1889,rr.rec 91 b.
90
90 a. 90 Jan.
90 Jan.
Mo. K.ATux.—Con., 68,1920... 57
5413 Jan.
62 Jan.
2d, extend., 7s, 1893, Tr.rcc. S7i8b.
58
Con801.,5s, 1920
57 '4 Jan.
51 14 Jan.
5 3 lab. 541a
Con., conv., 78, 1907,Tr.re9. 8614b.
Consol., 7s, 1904-5-6
Gt.Weat.- lat,7a. 1888,Tr.rec. 92 b.
92
90 Jan,
901a
921s Ian.
MlM'rlPac— Ist, cons., 6e.l920!lii b, 1121a IllOiaJan. 113 Jan.
87iab.
2d, 78, 1893, Tr.rcc
8d,78, 1906
IU3 b. 118 b. ;116ia Jan. llS^e Jan.
West Shore— Guar., 48
1051a
P»0. of Mo.— Ist, cxfd,48, '38 100
98 '8
97% Jan. 101 Jan. West. N. Y. A Pa.— Ut, 5b, 1037 96 14
2dM..78. lt<ni
104 lab. 105 b. 1104 Jan. 105 Jan.
395gb.
2d raort.. 3e., 5sc., 1927..
UobUe A Ohio— Now, Hs,a927 ..I
West. Un. rel.-Col. tr., 58, 1933 102
General mort. 48, 19.i8
43 a. 44
41% Jan. 41 Feb. Wheel. A Lake E.— Ut 5a. 1926
Mots— The letter" b" IndJoatee price frtd.and "a" prioe OMktd; all other prices and the rango ace from aocaalaalao.
j
Gal.U.ASan.Aut.— .Ulvlst,58
1889.
Lowest.
I
AU.*PfM).—W.D.
1,
Stmge linee Jan.
Mailroad Bonds,
Loaat.
y«ji.25 Ftb. 1
M«3
116
117
117
Jan.
Jan.
Jau.
II5I3 Jan.
UOt Jan.
119 Jan.
Ill 7
Jan.
100 Jau.
1
98i3Jan.
89 Feb.
91 Jan.
33 Jan.
95 Jan.
53 Jan.
9% Jan.
103 Jan.
114 J.in.
107 14 Jan.
90
Feb.
Jan.
910b Jan.
391a Jan.
103 Feb.
104 Jan.
102% Jan.
96 Jan.
116 Jan.
911I4
12013 Jan.
IIII3 Jan.
11058 Jan.
114 Jan.
II6I3 Jan.
11413 Jan.
85 Feb.
4013 Feb.
93 Jan.
87 Jan.
94 Jan.
93% Feb.
98 Jan.
89 Feb.
91 Jan.
88 Jan.
106 Jan.
96% Jan.
40% Jan.
1021a Ftb.
104 Jan.
STATE BONDS.
SECURITIES.
Alabama Class A 8
I
1906
Olaaa B, 5b
1906
OiasB C, 48,
1906
6b, 10-20
1900
Jtrkaiuaa— 69, funded.. 1899-1900
7e, Little Rock A Fort Smith, ias
7b,
79,
Memphis A
to
Little
Arkansas Cential
Beorgla— 7s, gold
LeolElana— 78, cons
StaBiped, 48
Michigan- 7b
Rock,
ER
ls«.
Bid.
Ask.
8ECUKITIE8.
Bid.
104
1051a
due 1889 or 1890
University, due 1892
1894-1895
Funding
1892
New York—68, loan
100 ij
103
105
111
lom
100%
1021a 107
12
12
12
North Carolina— 6s, old
Funding act
New
bonda, J.
Chatliam
KB
A J.. ..1892-1898
I
88%
Rhode Island— 6b,
Special
Consolidated
6s
4.s
Bid.
cou.. 1893-1894
South Carollna^Os, non-fund. 1888
1893
Brown consolidated 68
1892-1898
Tenne8«e<v-6s, old
Compromise, 3-4-5-68
New aenlement—68
35
10
20
5
tax, Cl.iss 1
88»8'
JAJ
1900
SECURITIES.
Ask.
1101*
1893i llOia
68, loan
17
7
1890 104
1914 108
1890 105
Mlssou^- 68
Asylum or
fis
3s
Virginia— 6a, old
1
12
93
1910 9214
1919 124 1251a
68, conaolidaied bonds
6b, cuusolidated, 2d series
88, deferred, trust re*
1912
1913
1913
1013
I
Ask-
—
THE CHRONICLE.
154
[Vol. XLVIII.
BONDS-STOCK EXCHANGE QUOTATIONS ON FRIDAY OP THE LESS ACTIVE RAILROAD BONDS.
SECUKITIES.
Bid.
Railroad Bonds.
I
stock Exchange Prices.)
Atob. Tod. & San. Fe—i\B... 1920
1911
Blnking fimd, 6s
1937
Collateral Trust, 58
86
98
SECURITIES.
Ask.
95
104
88
Bid.
1937
Dul. So. Sh. & Atl.— 58
E. Tenn. Va. & Qa.— Ist, 78. ..1900
1930 109
Divisional 68
1937 '92'
Istext., golfl, 58
Equip. & Impnivem't, g. 5e.l938
Mobile & Einii.— Ist, g., 5s,1937
1897 11912
Erie— l8t, exi.ncled, 7s
1919
1925 1061s
2d, extended, 5s
SB.Kold
1923 iii%
3d, extended, 4iaB
1988 *110>4
Cons. mort.. gold. 58
85I2
1920
extended,
58
4th,
1936
Beecn Creek— l8t gold, 48
100
1928 100%
5 th, extended, 4s
Best. H. Tun. & W.— Deb. 58.. .1913
IIOI4
llOifl
.1920
Ist, cons., fd. coup., 78
Brooklyn Elev.- let, G., 68. ..1924
88
1908 103
87
Reorg., Ist Uen, 6s
1915
2d. 3-.5S
1916 1421s
B.N. Y. &E.— 1st, 78
UniouEl., 1st, guar, 6s. ...1937 1061a 106%
N. Y. L. E. & W.— Col. tr., 6sl922
Brunswick & West.— let, g.,48.1938
97
1969
Funded
coup,,
58
Bnff.Roch.&Pltts.- Gen., 58.. .1937
1977
Income, 69
1921 112
EocU. & Pitts.— let 68
84
9808 99
Suff. &. S. W.— Mortg. 6s.. ..1908
Burl. Ce. Rap. & No.— let, 58. 1906
85
Eureka Springs R'y, let, 6b, g.l933
Consol. <fe col. tr. 5s
1934
117
1921
Minn. & St. L.— Ist 78, gu
1927
Evan. & T. H.-lst, cons., 6b.
1021s
1923 109
lowaC. & West.-lst 78.. ..1909
Mt. Vernon— Ist, 68
105
Odd. Kap. L F. & N., 1st 68.1920
Evans. & Indian.— Ist, cons. ..1926 103
Ist 58
1921
Fl't & P. Marq.—Mortg., 6s. ..1920 121
Central Ohio Reor.— 1st, 4^28, 1930 104 IO4I2 Gal. Har. & San Ant.- Ist,68,19l0 *103
99
1905
Cent. RR. & Bank.— Col. g.,58.1937 100% IOII2
2d mort. 78
Cent, of N. J.-Conv. deb. 68.1908 *103i2
Grand Rap. & Ind.— Gen. 58. .1924
77
Central Paclllo— Gold bds., 681895 113
Green B. W. & St. P.-lst, 68.1911
Gold bonds, 6s
Ilousatonio—Cons, gold 59. .1937 108
1896 113
Gold bonds, 68
1897 113
Houg. & Tex.
Ist, m. 1. 7s. 1691 127
1191a
San Joaquin Br. 6s
l9t m. 1. 7s, Tr. receipts
1 900 114>«
1891 127
CaL & Oregon— Ser.B., 68.1892
West Div. 78
Chic. S. Fe&Cal.— 1st g.. Ss. 1937
Bait.
Onlo— lst68, ParkB ..1919
.
C—
West. Paciflo— Bonds, 68. ...1899 •112
No. Railway (Cal.)— Ist, 68.1907
Chas. &. O.— Pur.
fund. 6s. 1898
M
A
&
OUoago & Alton— l8t, 7s
6s, gold, ser.
1908
So. West.-2d 6s. ..1911
116
1893
1903
Mo. River— Ist 78.. 1900
1900
Bt. L. Jack8.& Chic— Ist, 7s. 1894
l8t, guar. (564), 78
1894
2dmortg. (360), 78
1898
2d, guar. (188), 7s
1898
Miss. R. Bridge— Ist, s.f. 68.1912
Chic. Burl. & No.— Deb. 68.. ..1896
Ohio. Burling. & Q.— Ss, g. f
1901
lowaDlv.-Sink. fund, 5b. .1919
Sinking fund, 4s
1919
111
. . .
121 14
93 It
115
125
121 123
120
11434
lUlnoiB Central— ist,
Ist, gold, 31SB
120
112
1131s
140
g., 4b.
..1951
C—
Ask.
118
120
104
103
]0338
1021a
1121a 115
10318
1924 109
Adjustment M., 78
Equipment, 5s
1903
Clinch Val.D., let equip. 5s,19.i7
& Lake CU.— l9t,con. 6e.l920
Ogd.
Ohio
1161s
Sp'gliold
95
103
C—
Peoria
&Pek U'u— let, 6s.. ..1921
1921
& R.—3d pr. inc. cony., 1958
61
Pine Creek Railway— 68 of 1932
Pitts. Cleve. &T0I.— lst,68...1922
72
106
96
Pitta.
Pitts.
Pitts.
Pitts.
MoK. & Y.— Ist,
6b
Painsv. &F.— 1st, 58. ..1916
1927
Y. & Ash.— 1st 58
Rich. & Dan v.— Debenture 68.1927
Debenture, ex coupon
Atl. & Char.— 1st, pr., 7a. ...1897
St. Joe.
&Gr, Is.- 2dlno
90
42
130
127
109
104 >s
1987
let, trust, gold, .58
8.— 1st, 6s, g.l916
Ft. S.
V. B. Bg.— Ist, 6e. 1910
St. L. K.cfeSo.Wn.- iBt, 66.1916
Kansa.^ Mid'd.- let, g. 4e.l937
Duluth— let, 5e....l931
St. Paul
99
100
&
&
1917
1909
1909
1922
Mln'e Un.— let, 6e
Mont. Cen.-let, guar,, 6a.. 1937
East. Minn., 1st div. let 58 1908
San Ant.& Arane.— Iet,68,'85-I916
1926
let, 68, 1886
1910
Scioto Val.— 1st, cons., 78
Coupons oil
Sodus Bay & So.— Jet. 58, g...l924
1909
Tex. Central— Ist, 8. f., 7«
Istmortg. 78
1911
1905
Tex. &N.
ist, 78
1912
Sabine Divieion, let, 68
2d mortg. 5e
St. P.Miuu.& M.— 1st, 7e
2d mort.. 68
96I3
67
21
115
103%
109
100
101
96
76
113
113
114%
& Pac—
& W.—
113%
101
Ut. 80.—Gen., 78
1909
1909
Exten., let, 78
Liu.
Col.—
let,
03.1918
&
g.
U. P.
1926
Utah & North'n.— G., 5s
Valley R'y Co. of O.— Cou. 6s. 1921
Wab. St. L. & Pac— Gen.M., 08.1920
1910
Chicago Div., 5s,
1921
Detroit Dl v.— 6e
Trust receipts
1909
Wabash, .M., 7e, 1879
Toledo & Wat).- let ext., 7s. 1690
1889
St. Louis Div., 7s
1893
2dM. ext., 7s
1»»3
Equip, bonds
1031s 106
'
100
96
98
98
115
117
98Vl
i'li'
1111*
'"l2is
190'
1888
1893
i'li is
7e, Trust rec
ik Naples— Ist, 7e, Tr. reo
80. I'a lst,ex. 6s,Tr. rec.
921a
2d, 78
88I3
1908 105
95
108 19
Cousol. conv., 7e...
& Tol.— Ist,
92 14
921s 93
8t.L.K.C.&N.--B.K& RR.7s.'95j ll'.:
OlariuUaBr.-Os
1919
StClmrles Br'ge— lst,6s.l908' 104
1895 II314 114
No. Missouri— 1st, 78
1896
Warren & Frank.— Ibt 7s
West. Va. C. it. Pitts.- Ist, 63.. 1911
..
Han.
lU.
73
116
126
120^
45
45
1907
Col. Trust, 5s
1895
C. Br. U. P.—F. o.,7b
Ist, 68. 1905
Atoh. Col.
Atoh. J. Co.
iBt, 68.1905
Great Weet.— 1st, 7s
D^
106
115
1201^
"eiH
& W.—
Pac—
Quln.
80
111
105
112
"as"
PL—
CoL Trust, 6s
991a
105
100
Tex. &Pac,E.Div.— Isi, 6s ..1905
1917
Tol. A. A. ACatl.— 6e
Mt.
68
19 lu
Tol. A. A.
let 48
1917
Tol. Peoria
1896
Union
1st, 6s
1897
Ist, 6s
1898
1st, 6s
&
125
951s
ib'gis
O—
115
•
49
&
113
125
.-^
•
96I9
120
St L.&I.M.— Ark. Br., 1st, 78.1895
!jt.L.&8.Fran.— lst,6s,P.C.&019l9
Equipment, 78
1895
Kan. City
96'
69>s
.8.) la 87i«
& Omaha— let, 58,
& T. H.-Dlv. b-nd8.1894 38
40
BeUev. & So. IlL— 1st, 88. ..1896 no's
1923 109
BeUev. & Car.— 1st, 68
St. Louie & Chic— Ist, con. 6s. 1927
30
Kan. C.
Bt. L. Al.
1121s
117
**
95
1900
1925
1927
Incomes
133
**
1922 109
1932 113
Junction— 1st, 69
142
115
2dM., 4ias
Phila.
'
;
Bid.
& Miss.—Cons., s. f., 78.. 1898 116
Div.— Ist, 7b
1905 105%
General 5b
1932
89
Ohio River RE.- let, 58
1936
General murt., gold, 5s
1937
83
Oregon & Cal.— 1st, 58
1927
117% Panamas-Sink, fd., sub., 6s. ..1910
115
Pennsylvania RR.—
Pitts. C. &St.L.— lst,op.,7s. 1900 115
Pitts. Ft. W. &
Ist, 78. ..1912 141
2d, 78
1912
102
3d, 78
..1912 140
98
Clev. & P.— Cons., 8. fd., 78.1900 128
80
4th, sink, fd., 68
1892 105
St. L. V. &T.H.— Ist, g., 7s. 1897 115
2d, 7s
1898
2d, guar., 7s
1898 110
ii'sis
1903 101
1912
112
1921
7II4
104
1951
Gold 48
1952 101 14
Spnngf. Div.— Coup., 6b.. ..1898 113
114%
iUddle Div.— Reg., 5a
1921 *ll5i4
117's
C. St. L. & N. O.— Ten. 1., 78. 1897 119
1171s
Ist, consol., 78
1897 1181s
106
2d, 6s
1907 1181s
Gold, 5s, coupon
1981 •117
108
109
Dub. &8.
2d Div., 78.. .1894 110
75
Ced. Falls & Mmn.— 1st. 7s. 1907
97
99
Ind. Bloom. &W.— 1st pref. 78.1900 110
Plain,4s
89
Ohio Ind. & W.— 1st, pf., 58.1938 100
1921
Chicago Milwaukee & St. Paul.—
80
I. B. & W., Ist, 5-6s, Trust reo.
l8l, 8s,P. D
80
do
East. Div. Truat reo.
1898 121'fl
117
2d, 7 3-108, P. D
41
Ohio rnd. & WcBt, 2d, Ss ...1938
1898
Itt, 7s, $g.,R. D
13
1902 1231s 125
I. B. & W., con. inc. Trust rec
1st, La (Crosse Division, 7s.. 1893 '110
Ill's Ind. D. & Spr.— 1st, 7b, ex.op.l906 103
let, I, & M. 7s
1897 nils 1151s Ind. Dec. & West.-M. 58
1947
1st, 1. &D., 7s
1899 118
2d M. iuc 5s
1948
let, C. &M., 7b
Iowa Central— Ist, gold, 5s. ..1938 80%
1903 124
1st. 78, r. &D. Ext
1908 122=4
Kan. C. Wyan. & N.W.— l8t,58.1938
l8t Southwest Div., 6s,
Lake Shore <s Mich. So.
1909 111 116
let, La C. & Day., 58
1919 100
Cleve. P. & A.— 7s
1892 112
let, H. &D.,78.....
1910 12014 12m
Buff. & Er.— New bonds, 78.1898 124
let, H. & D., 6s
Kal. & W. Pigeon— 1st, 7s.. .1890 102%
1910 IOOI4 102
Chicago & Paciflc Div.. 6e.. 1910 1171s
Det. M. &T.— Ist, 7s
1906 13218
Chic. & Mo. Riv. Div., 5e ...1926
99 100
Lake Shore— Div. bonds, 78.1899 121
Mineral Point Div., 5s
1910 100 101
Consol., reg., Ist, 78
1900 1271s
O. &L. Sup. Dly.,5s
981s 102
1921
Consol., reg., 2d, 78
1903 125
Fargo & South., 68, Assu .. .1924
120
Mahon'g. CoalRR.— iBt, 58.1934 108
Inc. cony. sink.fuudSs
1916 87
Long IslandDakota & Gt. South., 58
95
1916 87
N. Y. & R'wayB.—lst.g., 58.1927 103
Chicago & Northwestern—
33
2d mortg., Inc
1927
Escanaba & L. S.— 1st, 6s. ..1901 110
N. Y. & M. Beach- 1st, 78.. 1897
Dee M. & Mlnn.-lst, 78 ....1907 120
N. Y. B. & M. B.— l8t,g.,5B.1935
Iowa Midland— let, 88
1900 132
Brooklyn &Mout.— let, 68. .1911
Peninsula— let, cony.,78... 1898
191'
Ist, 5b
Chlo. <fe Milwaukee— 1st, 7s 1898 121ii
LoulBviUe & Nashville—
1907 1311s
Cecillau Branch— 7b
1907 IO5I4
S!?-f',^*-/--2d,78
MIL & Mad.— ist, 6s
1905 116
N. O, &M.— l8t, £8
1»30 112^8
Ott. C. P. & St. P.-lst, 6s.. 1909 108
do
2d, 6b
1930 971s
Northern 111.— Ist, 5
1910 108 110
Pensacola Div.- 68
1920
Chic. Rock l8l. A Pac—
Bt. Louis Div.— Ist, 68
1921 117
Des Moines & Ft. D.— Ist,4s.l905
2d, 3b
1980 6OI4
Ist.Z'as
1905
NaBhv. & Decatui^lst, 7b.. 1900
ExDcnsion,4B
1905
S. & N. Ala.— S. f., 6s
1910
Keok. & Dee M.— 1st, 58 ....1923 1041s
95
Pens. & At.— 1st, 6b, gold.. 1921
Ohio. <fe St. Louis— Ist, 68
961*
1915 119
Collateral trust, 58
1931
Chic. St. P.<S[Kan.C.-5s.... 1936
Lou. N. O. ATex.— lst,48.... 1934
Minn. & N.W.— l8t g. SB.. ..1934
40
2d mort., 69
1934
Ohio. Bt. Paul M. & o.Manitoba S. W. Col.— G. 5B...193t
OWc. 8. P. & Minn.— iBt, 68.1918 125
99
Mexican National— lst,g., 68.1927
No. Wisconsin— 1st, 6s
1930
2d, income, 68, "A"
1917
651s
Bt. Paul & 8. C-lst, 68
1919 I25I1: 127
19
2d. Income, 6s, "B"
igi''
OUc. & W. Ind.— Ist, s.f., 6s.. 1919 114
Michigan Cent.— 6s
1909
General mortgage, tie
1932 II9I4
Coupon, 5s
1931 114
On Ham. & D.—Con. s. f ., 7s. 1905
126
Jack. Lan. & Sag.— 6s
1891 105
2d, gold, 4^9
1937
Milw.L.S.&W.— Mich.D.,lBt,6e.'24
Oto. l.St.UA Chic— lBt,g.,4s .1936
95%
Ashland Div.— 1st, 6s
1925 114
Consol. 68
1920
Incomes
Oln. Jack. & Mac— IstVg.'.Ss "" 1936
Mlnn.&St.L.— I'a Ex.— Ist, 78.1909 81
CI. CoL Cin. & lnd.-Ut,'7e 6 f/99 121
2d mortg., 7s
1891 "75"
Coneol. sink.fd.. 7s...
1914 12014
Southwest Ext.— let, 78
1910
Caeve. & Mah. V.-Gold, 58..;i93S
Paciflo Ext.— let, 6s
1921
Coeurd'Alenc Ist, «s, gold. ..1916
Imi)r. & equipment 6s
1922
Co orado Midl'd-lBt.gold, 6«,1936 981a
Minn. & Pac— ist mortg. 5s.. 1936
Ool.<kGre«n.-l8t,68
1916
99
Minn. 8.8te.M.&Atl.—lst,5s.. 1926
2d, 68
19.2(3
72
Missouri Pac— Trust, g., 5s,. .1917
Ool. & Cin. Midland— Istresl.'igii
90
Mobile i& Ohio— Ist Exi. 6s ..1827 100
Lack. & W6st.-Cony. 78.1892 109
Istpref. del)emure
14
Mortgage, 7b
1907 138
2d pref. debentures
* ^- Y.-lst, 78.1906 13612
^'^
St. L. & Cairo— 48, guar
1931
-"iff-.Honls & Essex- l8t,7s
1914 147
Morgan's La. & T.— let, 6s
1920
^'7s...
1891 1061a 107
let, 7s
1918 125
Bonds, 79
I'lOO 121
126
Nash. Chat. & St. 1,.— 2d, 6s. .1901 110
7" o' 1871
:::.:::::i9oi 1271s
New Or. & Gulf-let, Os
1920
lBt,coii.,gu»r.,7e
1915 142 143Hi N. O. & No. E.— Pr. 1., g., 68 ..1915
Dji. * Hud. Canal—1st, 7s.. .1891
1061a 101)% N.J. June— Guar. Ist, 4s
1986 102
Ut,ext.,78
1891 IIOI4 111
N. Y. N. H. & H.-lst, reg. 4S.1903
Coupon, 7s
1894 1171a 118
N. Y. & Northern.— 2d, 4a
1927 49'
^».uiv., coui„79.,
1917 143
N.Y. Su8q.& West.— Deb. 6s.. .1897
Albany & Susr,.- I8t,gu.,7e.l9u6 136
2d, 4ia8
1937 "iii'
iBt, cons., guar., 63
1906 125
N. Y.Tex. AMex. -1st, 48 ...1912
Bens. & Sar.— iBt, eouD.,7s.l92
"95
Northern Pac -Divid. scrip ext...
1461s
Deny. &R. U.-Iuip. g. 58... .1928
84'8
James River Val.— isr, 6a. .1936
Pet. Bay C. & Alp.— isi. 6
l<ii3 ioi"
!0- I9
i.t,,;.
>Ji,.-lrnii<' .*
P-''
loan
' Ko price Friday
these are latest (luotatlons made this week.
Lonis. &
2d 78
90
Northern Paciflc— (Continued) —
St. Paul & N. P.— Gen., 68..1923
Helena* Red M'n—l8t,g.,6s.l937
Dul. & Manitoba— let, g. 68.1936
Do Dakota Diy.— let, 68.1937
La. M. & Mo. R.— lst,5s
1937
North. Pac. &Mou.— Ist, Cs. 1938
Norf. & W.—New Rly.— lBt,68.1932
Imp. & Ext, 6s
1934
*117is II8I3
Trust receipts
Waco & Nor. 7b
2din. SbM. 1
Trust receipts
Gen. mort. 6s
Trust receipts
1st
80
cues. O.
Blnking fund, 68
BECDRITIES.
1:0
&
.
Ask.
&
—
iUtscellaueous Bonds.
Cahaba Coal Min.— let g. 78. .190" 112
8218 "ss"
Chic. GaeLt. >fcC.-lst,g. 5s..l937|
97
Col. & Hock. Coal & 1.- lis, g..l9l7
G.&F.— 1st 68... 1905 93
HackensacK Water— let, 58... 1926'
19011*
Co.— Os
Steamboat
Iron
Maubul. Be.ich Imp. Co.— 78.1909
1904!
Telegraph.78
NortUweet
People's Gas A: Coke lstg.68,1904> 90"
)2dg.bs,.19U4|*
90
Chicago
Co.,
.19nn'* 117
Weet. UuionTel.—("^"np. 7>i
111=8' Equitable
60
78
ioi'
107
104
I
.
90"
1!
!
1
February
New York
«
1
1
THE CHRONICLE.
1889.]
2,
Vllj
Bank Statement for the week ending Jan.
We omit two ciphers (00) in all ccuei.
86, 18S0, is as follows.
Banks.
Capitol.
Surp'O'.
SptcU.
Loflfu.
DepoHU.
Legate.
{OOt omitted.)
,
,
Tradeftnien's..
,
Chemical
,
Merohants* Exch'nfre
OaUatln National
&
1,000,01
1,000,0
2,lt32.4
2.000,0
2,000,0
3,000.0
1,000.0
Macbftnlos'
America
Phenlx
10,920.0
10.180,0
7,.M4,2
8,380,0
11.372.4
4,741,0
9,332.5
Z.O.'iO.O
Hercbauta*
Oltr
•
9
3.000.0
.soo.o
600,0
1,000,0
A Traders
Drovers*.
300,0:
200,0
Ore«DwirIi
Leather Mannfaot'rs.
Seventh National
Bute or New York...
200.01
600.0'
But*'Ii.-ra'
M<M.-tmnlc»'
300,0
1.200,0!
American Bxoliange..
Mercantile
Paclflo
Republic
Chatham
Peoplen'
200,0
700,0
North America.
Hanover
1,000,0
Irving
600,0
600,0
600,0
760,0
600,0
600,0
CItlzena*
Kaeaan
Market .6 Folton
8t. NlcholM
8boe<fc Leather
Corn Kxchanffe
1,000,0
1,000,0
Continental
»(M),0
± Traders'
a,.S21.0
86.4
611.8
80.6
454.2
354,2:
2,fi05,8
4.880.3
2,868,8
2,38M,9
1,333.6
800,01
1,000,0,
300,0l
361.6
250,0
200,0
750,0
German. .\merican...
Cha»e National
114,4
600,0]
100,0*
Fifth Avtmne
German Kxchange...
200,0
Oermaula
"
Garfleld
Fifth National
Bank of the Metrop..
176,31
160,0!
300,01
West side
200,0
Seaboard
Blxth National
Western National
600,0,
200,0
3,600,0
238,6
239,7
1,449,9
577.3
2.672.S
1.410.7
270,4
797,0
3,697.8
391,9
648.6
327.3
2-.',:riH,i
685,8
485.5
11C.7
S23.0
108,9
229,6
77,0
342.3
2.140,0
2.538,9
282,0
865,6
363,2
644,2
514,9
256.6
336,5
877,5
Preferred
Lehigh Valley
A
4,21 0.2
199,4
144,9|
1,655,8;
1,381,0
179,0
512.3'
4,194.9l 2,244.6
428,0,
1,334,7
126,1
230,1
1,269.9
2,7''7.6
8,709,4
4,113,5
3,338,9
2,657,1
5,101,6
4,101,6
3,053,8
1.627,3
6,136,4
2,144,0
3,342,0
2,000,1
9,192,6
269,0
141.61
1,100,9
1,008.1
620,1
320,4
1,810,0
10,071,0
2,716,8
2,832,9
184,6'
839,2;
267,2
711,9
28f,0
465,0
1,48.3,6
94,9;
121, Uj
166,2
615,7
1,991,7
847,61
1,942.0
1,748,6
3,843,0
5,797,2
5,703,3
2,170,0
24,067,6
24,317,0
2,218.0
1,382,1
19,823,1
9.753,0
4,742,0
6.384,2
23,544,8
6,875,4
42,6l
344,4
867,9
197,6
641,6
247,0
466,(1
260,0
1,379,7
60,762,752,402,6 392,821,9 88,530,2 37,545,8 424!324,8
67
113
23
103
123
1900.
Clearfield A Jolf.-lst, 08
Col.
Cln. -Mid.— l8t, 6b.
Connecting— 6a
90
117
Delaware -Mort., 68
Del.ABd.B.— 1st, 7S.180S
EaatonAAniboy.mort. 68.
Elmlra A WUl'm.— 1st, 68
Karris. P. M't J. A L.—48
Hunt'n A B. T.— Ist, 78..
2d mortif., 78
,.
120
103
1194
120^4
132 "a;
115
Bid.
Ask.
186
190
•Wll.
German Am.
Exch... 145'a
287 295
190
...
Central
137
250
Chase
Chatham
250
Chemical.... 4000 3066
3.50
600
City
Citizens'
156
Commerce... 185
Continental }?.0
Com Exch... 225 210
300
118
Gemiaiiia
210
Greenwich... 130
. .
Hanover
8
Hud. River.. '.40
Im.A 'I'rad's' 500
Irving
170
Leather Mfa' 2'.^8
Manhattan... 173
MarkotA Ful liill
Mechanics'.. l,H5
M'chs'ATrs'. 175
Mercantile... 175
Merchants'.. 145
Merch'ta Ex. 119
Metroplltan
11
Metropolis... 256
Nassau
152
New York... 235
1.55
lltU Ward... 150
FiftbAve.... 1200
2000
146
•265
BANKS,
Ask
Bid.
j
N.Y. County. [300
N.Y.NatEx. 126
Ninth
jloO
N. America.. 162
North River.' 140
Oriental
200
125
2'.!
.
14th Street.. 155
Fourth
1J2
Secnrltles.
Bank Htoek I.lst.
BANKS. Bid. Ask.
Garfleld
Atr:.
Gallatin
49%.
Last price this week.
Butchs'ADr. 185
First
ilf"
124
107
105 ij 107
107 Hi
Seab'dARo'u'k6-59, 1926
West. Md., 3d guar., 68..
Col.AAug,,6a, 1910.
|104
New York Local
Kiver..
104%
106 Ij 107
106^
2d8, 6b
8ds, 38
iBt Inc., 6s, 1931
1221.
107
4>s8, Trust Loan
Perklomen— l8t8e.5,1918!{103
Ea.>!t
ibsii
18
101
104
RAILROAD BON DR.
A Char.— let, 7s.
Income, 6s
Bait. A Ohlo-4s, 1936...
Cape Fear A Yad.— l8t,68
Cent. Ohlo-68. 1890
Char. Col. A Aug.— Ist, 78
Cin. Wash. A Bait.— lata.
140
133 Hi
Cons., 68, coup,. .1906.,
Cons.. 68, coup. ..1019.
Broadway
122
104
101^
Western Maryland
Wilm'gtoD Col a Aag'sta
N.Y. Phil. ANorf —181,68 103 106
Income, 68
Penn.-Gen.,88,conp.l910 132 "a
BANKS.
1124
133>( 18ST,
10414 1043,, Atlanta
Consol. M,, 68
America
99 S
{126
1st pref
2d pref
Central Ohio
Preferred
i33«i
II4I4
2d,7B, reg.,1910
Cons. 68. CAR., 1923..
North Penn.— lat M.. 79
General mort. 7h, 1903.
{
Bs... {
Baltimore
.
Leh.V.— l8t,e8,C,AB.,'98 119>i 12011
Per share.
Kri9-oon.
BALTLtlORK.
RAILROAD 8TOCK8.I
A Ohio
115
A
t
A
Deferred Incomes, op...
Phil. w. A Ball.— Tr.o..48
Schuyl. R. K. 8.— l8t,58..
Stenben. A Ind.lst m. 6s.
.United N. J.-<Jon. 49
[Warren A Frank.— Ist, 78
iWe8t Jersey— let M.,78..
IW. Jorsev A Atl.— Ist, 68
,West Penn.-69, 1893 ....
Pittsburg Br., 68
220
,
A Atlantic.
RAILROAD BONDH,
7a,
Bid.
Cons., 78, conn., 1911 ..
Cons., 6s,s.. rR.C.I911
Imp., 68, >., oonp., 1807
Cons. 9s, Istser., 1922.
60>9
United Co'8 of N. J
West Jersey
West Jersey
Inc. 7a, end., coop., '94.
Bells Oap- lat M., 6s
Cam. A Amb.— M., 68. '89
1.42.3,5
607,4
Erie
A I.ewl8ton
Hunbnry
Catawlsca— M.
Phlla.
68
31 14
Allegb. Val.— 7 3-1 Oa. 'SB
1,17.^,6
206,8
119,8
A
BKCUBITIK8.
66
76
83 >3
Northern Central....
North Peniiwylvaiila. ...
Pennsylvania
I'hll.
Atk
46>ii
Haven
H,
I
204 21 <: Penn.AN.Y.Can.—7s,'9« Tl8%!
64 <. 64 <^
General mort«.4s
70'*' PhU. «K.-l8t .Vf.,68...
6B
70 » 71
3d, 78, 0. A r. 1893
Little Hchuylltlll
5,013,8
2,020,1
2,603,0
2,950,4
15.430,0
13,659,6
6,C03,3
8,632,2
3,119,0
11.439.9
6,844,8
2,741,2
4,588.1
15,:n5,9
445,8:
3,015,0
231,6
3,168.7
434,2|
3,068,3
350,0
604,7
598,4
533,1
Bid.
Broad Top
4.4;il,2
2,742,5
1,673,8'
2,134,9,
2,671.(1
l'J.'.',-,:i,4
2,:H'J,1
207,9
5,348,4
3,624,4
110,3
4,13.'5,4
H..M1(1.0
l..Vl;-,.0
897,0|
266,0l
579, 5
134,6
61,7
82,4
1.1,2
l:,'.M;7,i)
855.0
428,0|
211,2!
1
216.(1
1.048,8
1,025,4
1,892,0
1,044.0
1,780,6
f<.
1,080.0
233,4
1,119,5
1,037,8
231,4
35.3,8
.3,770,7
lo.nifl.o
n.Ti'.i.o
678,0
660.6
963,0
744.U
3.4235
1,067,0
4,445,6
592,4
0,014,5
709,7
1,132,4
628,1
113,0
140,3
466.2
318.6
205,2
4,553,0
1,611,8
1,2811.0
8.858,1
13,724,1
2,882,0
2,984,2
2,495,5
3,989,2
1,946,7
3,047,0
6,332,6
4,841,6
2,009,0
480,4
760,0
Third National
N. Y. Natl Exchange
Bowerjr
New York Connly...
250,6
353,0
4,180,5
1,807,6
107,8
121,1
1,375,8
676,1
213.4
26».5
5,843,4
247.2
123.5
14,666,0
18,464,7
6,266,9
7,764,6
2,877.9
10.636,2
4,966,8
2,127,7
600,0
300,0
200,0
2.000.0
300.0
First National
1,078,7
1.203.4
3,464,6
1,884,0
3,720,9
200,0i
3,200,01
Central National
Second National
Ninth National
230,8
468,8
1.067,0
270,4
388,9
167,3
664,0
211,3
234,5
1,027.1
207,5
603,8
673,2
369,0
240,0
230,0
Total
287.8
1B0.5
21,887,9
20,351,0
2,076,8
1.291,4
18.663.5
7,468,0
3,895,0
5,176.5
23,142.1
8,362.2
1,410,0
2,378,4
2,281,5
2,831,0
7,242,4
4,050,2
2.678,0
1.500,0
2,000,0
Park
North River
East RUer
Fonrth National
United .States
Lincoln
20,710,6
3,623,9
5.642,8
B.000,0 l,40;l.3
6,000,0 3,211,
1,000,0 1,587,1
667,2
1.000,0
303,9
422,71
820,1
1,600,0
541,1
460,0
Commerce
Broadway
Oriental
Importers'
128.5
1,247,6
6.747.
1,080.0
2,42.^.0
A
NeHfjUfhoning Valley...
$
2,120,0
3.120,0
2,156,4
155
BXCCRITIES.
Huntington
MliKihlll
Bulk o( Xew York.
Manhattmi Co
.
.
1
560
...•
^
1R0
Pacific
,170
......
......
Park
210
... .•
im
Phenlx
185
134
BepubUo
167
Seaboard
126
Second
325
Seventh
126
ShoeALeath. 152
St. Nicholas. 124
State of N Y 111
Tradesmen's.:
United St'ea.,'210
Western
95
125
12
266
IM
i;w
113%
102
95 »,
1
Qaa and GItT Railroad Stock* and Bonds.
Loans.
CircTn
Cieariwii.
388,798,7 76,321,3:29, 838, 7 400, 314, 64, 862,3
.|392.:i36.9;77,032,3 32, 529, 7 408, 910, 4,4.850,5
388.318,0j82,150,7;34, 930, 9 410..129, 8 4,863,1
.!389.325,5l85,668,7 36, 570, 31410,,837, 8 4,824,3
392,821,9 88,550,2,37, 645, 8 424.,324, 8,4,734,0
315,534,1
702,790,1
680,366,4
Specie.
N. Y. Banks.*
"
"
.
Beaton Banks.*
Jan. 12
•*
;9
"
Deposits.^
.
12
19
26
•'
LegaJa.
"
26
f'hiladel.
an. 12
"
19
"
28
'
147,991,7
8.608,6
148,88.5.3
9,094.8,
149,919,3
9,202,3
Bank*.
,203, flll23,,078,
,213, 2il24,,178,
,501, 6ll25,,971,
24,393,,0
25,331,
26,893,
f
724,07.3,9
653,681,8
3,981,7
3,820,7
90,554,7
98.801,1
96,304,2
2,321,3
2,318,6
2,316,5
69,947,3
73,520,7
64,643,1
3,97.3,7
,870,
,947,
,062,
+ Including, for
Boston and Phil a
Quotations in Boston, Plitiadelpiiia and Baltimore:
Following are quotationsof active stoclts and bonds. A full
liBt 18 given in the Chronicle the third Saturday
of each month.
SECURITIES.
BOSTON.
BAILROAD f TOCKS.t
Atohison & Toi eka
BMtou.<t Albany
B»ton A Lowell
Boeton A Maine
<ft
Providence..
California Soolhem
Central of Masaachusetta
Preferred
Obeablre, pref
OblcBorl. <t North'n....
Chicago & Wes-t. Mich...
Oavelandiit Canton
Preferred
Concord
Connei-tlcut A Pa«s
Couneitlcut River
Eastern
GAS COMPANIES.
Ask.;
Bid.
Brooklyn Gas- Light
Citizens' Gas-Llglit
58
Boiitls,
Consolidated Gas
Jersey City & Hoboken.,
Metropol itan— Bonds
Mutual (N.
Y.)
,
Bonds. Cs
Nassau
Bid.
8ECUBITIES.
Ask.
Atch.
Ask,
A T'p'a.— (Cont'd)-
Plaln, 6s
6118
61
202
161
177
250
{
Mortgage, 6s
I
Trnst, 68
117'4'....,
107
30
7
20
Land grant, 7a
A
,
Ask
Bid.
I
.
I
I
'
I
llt>
Bonds. 6s
Metropolitan (Brooklyn)..
Municipal— Bonds. 78
Fnlton Municipal
Bonds, 63
Equitable
Bonda, 68
.....
100
102
106
85
105
122
105
113
112
80
110
186
109
116
I
Ist mort., 58, 1904
2d mort., 5s, 1014
B'way Surface b'ds...l924
Bouita guar.,58, 1905
Brooklyn City— Stock
1st mort., 5g, 1902
Bklyn. Crosstown- Stock.
Ist mort, 7», 1888
Bushw'k Av.(Hklyn)— St'k
Central Cros.stown— St'k..
iBtmort., 6a, 1922
Cent. I'k.N.AK.Itiv.— stk.
Consols. 79, 1002
28
115
200
iD. D.
E.B.
A B.— Scrip 68..
105
106
160
Eighth Av.— Stock
140
Scrip, 6s, 1914
105
103'a,104%' 42d A (Jr'nd St. F'ry-Stk. 206
105
106
Ist mort., 78, 1893
1103
102 105
,42d St. Mauh. A StN.Ave. 24
90
95
Istmort., 09,1910
110
120 125
2d mort., income, 8a
40
105
107
HoustW.St.A P.F'y— Stk. 166
160 165
lat mort, 78, 1894
110
100
[Ninth Ave.
60
140 1,50
Second Ave.— Stock
100
143
146
l9tmoi-t,69, 1910
103
1'20
lie
,8ixthAve. Stock
135
89
91
l9tmort, 78, 1890
105
120 1-20<i Third Avo.-Stock
213
125
r.'2
Bonds, 78, 1890
101
111
113
Twenty-third St— Stock.. 220
r25 130
lat mort, 78, 1893
110
100 111
107%
210
110
28
111%
45
iiT*
.ibT*
|104%
I
1
.ioe"
215
103
225
Ilia
I
,
1
—
74
m
WilliamHburg
,
Cit. St.
I
72
—
K.C. Meniph.
Kan.
People's (Brooklyn)
Unlisted Secnrltles. Quotations from both Exchangee;
SECURITIES.
Rid. Ask.
SECURITIES.
ma. Ask.
Am. Bank Note Co
Mt Dcs.A East Sh. Ld.CO. 1-66 1-78
32
34
'
30
ioi
7thAv.— St'k.. 190
1
A Btrrn- 6al 96 DO'S
Jo.&C. B.— 79 {123
HI K. City Sp'd A Mem.— 68
192»4
K.C. Clint. A Sprlngf
100
6e
91
90
'105^,'
Little R. A Ft. 8.— 7»
",.
Preferred
121
Lo'llav.Kv.ASt.L.— lat.68
Fltohburg. pref
II.*
74
76
2dmort.,2.6s
m.
FUnt & Pere Maronette.
28
30
Mar. H. A Ont.— 1908, ea, {100
Preferred
90
1923, 6a
....I
OSVi 94
Kan. c. ft. Scott & Mem .
Mexican Central— 4s
:o
69
K. o. Memph. A Blrra. ..
{ 6394 54
Income
21
21 "3
ioulsvllle Kvans. A 3t L.
N.Y.AN. Kng.-l8t, 7s..| 126 127
Prefeired
let mort., Bs
117
Maine Central
2d mort., 6s
107
107 "a
Mamli.ftorA Lawrence
Ogdens. A L.C. Cons., 68' 98
09
Mexican Central
13"» 133« Rutland— 58
98
{
N. Y. A N. Kng, pref
I
116
117
southern Kansas— 68
01 '.
Northern
143
Texas Division— 6s
79 |.
Norwli h A Worcester"!'! {175 14S
Incomes
pgdenob. A Lake Cham.
Wlacon. Cent. -l8t M., 68 {'OTiil
Old Colonv
170 170"!,
Incoiiio 59
36
Poraand 8.1C0 APortsII! 121
PHI1.A1>I<.I.PH1A.
Summit Branch
10
RAILROAD STOCKS.)
wuoonsln CeLtral
16
16<« Boll's Gap
44>4 45>3
Preferred....
40
Cam«len a At'antlc, pref.
40
BONDS.
I
.. ^
East Pennsylvania
56'*
Elmlra A V> illlamsport..
47^
CoU. Tmst. 6»
86".
.....I
Preferred
60
t Per share.
i Last pi Ice ihla week.
2;)i.j
120
110
Br'dway
iBtmort., 79, 1893
iCallforniaSoath,— Ist, 68. 103
Income, 6s
47
60
Conaol. of Vermont— 68..
8j
Eastern, Mass.— 6s, new.. 1261a'
553, K. V. *t. Scott A Mem. .69 Ul^i 112
K. C. Port Scott A 0.— 78 117
Kans. City Law. A so.— 68 il08
90
Bl'Ckcr St. A Ful. F.-Stk. 26
l8tmort.,7s., 1900
114
Dry Dk.E.B.A Bafy— Stk.
j
Ill's'....
104
65
103
83
BR. Qnotationg by H. L. Qbant, Broker, 145 Broadwar.]
Chiist'ph'rAlOtliSt.-Stk.
Bonds, 7», 1898
Neb
I
19
14 •»
,100
lOlia'
202 >4 :Burl. A Mo. R. In
153
Exempt, 88
177 »'
Non exempt, 6s
I
73
99
[City
102
52
100
82 M
170
114
OH
100
no
(Brooklyn).,.,..,
Scrip
92,240,0
92,374,0
92,279,0
'
« omil two cip*er« In oil t)ie»« Jl(mrM.
aMphIa, the Item "due toother banks."
Boston
GAS COMPANIES.
$
Deo. 29
»»n.
6
A
A
Atch.
AIL
Pike's P'k, let 68
Char. Air Line....
90
80
118 122
Brooklyn Klev'd—stock.. 37 "a 40
Bronswick Co....—.
163«
California Pacific
7
lat niott., 4't8
107 112
106
2d mort^ guar
102
(3hio. A Atl.— Beneficiary.
7
O. V. W. A M.- Cen. D.lst.
93
CoLtiuental Con. A Imp..
39
Uul. s. shore A At— Stk.
6%
Pref
21
O3orgia Pao Stock
12
Uht
109=j 1 10 Hi'
1st 6s
2ds
44
Consol. 58
76
77
_
25
Income 58
22
Ist, 78,
1907
Jarvis.Conklin,M.,Deb.68
Kanawha A omo
let pref
2d pref
Ist6s
I18
1
7
3%
Newb. Dutch. A Conn
16
N. J. Southern
N. O. Pao. Laid Grant..
Newp. N. A Mlas. Val...
15
20
1-J>I
14
N.Y.
v.*.
a.
A
Buff
Keely Motor
*h
Kingst'n A Pemb., Ist U. 106
Lehigh A Wilkes Coal...
30
L.N. A.AC—C. A I.Div.,«8 104
106
MemphlsA (_;ha'8t. consols 115 130
Mex. N.it.('on«lruct'nCo.
25
MU-lilgan A Ohio
1
30
1
ii
N. Y. A Oreen'd Lake, lat 30
8d mort
6
NA'. Loan A Impr
49
N. Y Mutual Tel
97
N. Pac. P. d'OreUle riv.. 102
North Rlv.Cone. Ca.?crip.
%
O.L.tW.-lst acc.intcert 61
2d aoc. Int. cert
Ocean ateam.co.,l8t gttar.1
Penaaoola A Atlanrto...
Postal Telegraph- Cable.
St. Louis A Chicago
Iref
103
St. Paul R. A Or. Tr. Ist 6e
2%! Ecloto Valley, let, 78....
ad, 79
4
Tole<lo Peoria A West...
65
U
,
VIokab.A Meridiai— 1st.
2d mort.
Incomes
40
9
63
65
%
.35
104
6
1(|-J
4%
80
4
SA
100
100
78
90
97
67
16
IT
99
33
36
%
1
stcck. pref
%
.„«
Weal N. Car. -"^n 6a ... S3
87
Bowery National Bank... 240 260
German Kx.hans Hank. 210
260
SlxUl National Hank
{
-
'
i
..
—
. ...
..
.
1
.. ..-
.
THE CHRONICLR
156
[Vol. XLVIII.
Latest Earnings Reported.
%nvitsimtni
WeekorHo
Alio
Jan.
K.C.Ft.8.&Mem. 2d wk Jan.
Kan. C. CI. & 8p. !2d wk Jan.
K. C.Wy.& N. W. December.
Kentucky Cent December.
Keokuk & West. |3d wk Jan.
Klngst'n & Pern. 2d wk Jan.
Knoxv. & Ohio November.
Lake E. & West. 3d wk Jan.
Lehigh &Hu(i... December.
L. Rock & Mem 3d wk Jan.
:
The Investors' Sitpplembnt, a pamphlet of 150 pages,
contains extended tables of the Funded Debt of Slates and
Cities and of the Stocks and Bonds of Railroads and other
Companies, It is published on the last Saturday of every
Hher month—^iz., January, March, May, July, September and November, and is furnished without extra charge
Mxtra copies
to all regular subscribers of the Chronicle.
arc sold to subscribers of the Chronicle at 50 cents each,
others at |1 per copy.
The General Quotations of Stocks and Bonds, occupying
six pages of the Chronicle, are now published on the
third Saturday of each month.
Latest Earnings Beponea.
Week or Mo
Jan. 1
.
I/)ng Island
December
La. &, Mo. Riv... November.
Louis.Ev. cfc 8t.L. Ist wk Jan
Loulsv. & Na-shv. 3dwk Jan.
Lon.N.A. & Chic. 3d wk Jan.
louisv.N.O. &T. 3dwk Jan.
Lykens Valley.. December.
December
Memphis iVChas. '3(1 wk Jan.
Mar.Col.ife Nor'u
!6Mexican < 'ent !3dwkJ:in.
San Luis Div. j3d wk Jan.
;Mex. N. (all Ins) December.
.
JMoxlcanRiiilwy Wk Jan. 12
Mil.L.Sh.&We8t. 3d wk Jan
Milwaukee&No. Sd wk Jan
Mlnneap.& St. L.: December
Mo. Kau.& Tex. iDeceniber
Int.&Gt.N'rth |2 wks Oct
Mobile & Ohio ..; December
RAILROAD EARNINGS.
ROADS.
to
Latest Dale-
1888-9
1887-8.
183,545
9
170,048 2,098,965
1888-S.
1887-8.
Nash. Ch. ASt.L. IDec. uibor
Natchez Jac.&C 3d wk Jan.
New Brunswick. November.
N.Y. Cen. & U.K. December.
N.Y. L. E. & w. December.
N. Y. Penn. & O. Novoujber.
N.Y. ifeNewEng. December
N. Y. & Northern December
N.Y. Ont. (fe W. I3d wk Jan
N.Y. Bus. (few... December.
Norfolk (fe West 3d wk Jan
N'theastni (S.C.) October...
Northern Cent'l. November.
Northern Pacltle 3d wk Jan.
OMoInd. .k W.. 3awk Jao.
.
Allegheny Val.. December
Atoh. T. & S. Fe. November.
Whole System. November.
Atlanta & Cliar. October
Atlanta&W.Pt.. December
!
,3G.S,514
Atlantic &Pac.. 3dwk Jan.
Aug. Gib. & San. November.
B.atO.EastLlnee December.
,317,100
Weat«m Lines. December,
424,1^32
December.
,742.032
Decembf-r.
113.224
b5,115
39,238
39,b71
13,016
82,637
35,398
189,000
28,910
63,416
797,399
977,212
Total
Bait.
& Potomaf
December.
Beech Creek
Biifl.Roch.& Piti 3d wk .Tan
Bar.C.Bap.&No. 3d wk Jan.
& Chic
Califor'a South.
•Camden & Atl'e
Sd
Cairo V.
wk
Jan.
November.
December.
Canadian PaciHc 3d wk .Tan.
Op.F'r&Yad.Val December
November.
Carolina Cent.
Cen.ER.&Bg.Co. November.
December
Central of N. J
Central Pacillc November
Central of 8. C October ..
Oharleet'n & Sav October
Cheraw &Darl October .
3 wks Dec.
Ches. &Ohlo
. .
.
Eliz. L.
&B.
November,
8.
Ohee.O. &8. W.. December
Cheshire
November
Ches. <Se Lenoir October
Chlo. & Atlantic. 3d wk Jan.
.
November.
November,
Ohio. Burl. ifcNo.
Chic. Burl. &Q.
Chic. & East. Til. ^d wk .Tan
Chic. & Inii. Coal ,Jd wk Jan,
Chic. Mil. ASt.P. 3d wk Jan.
Ohlc.&N'tUw'u Decemljer,
Chlo. & Oh. Riv December
OhlcSt.P. &K.C December
Chlc.St.P.M.&O November.
Ohio. & W. Mich Jd wk .Tan
Cln.Ind.St.L.&C 3<1 wk Jan
Oln. Jack. & Mac. 3d wk Jan.
ClD.N. O. &T. P. 3d wk Jan.
Ala. Ot. South 3(1 wk Jan.
N. Orl. & N. E <il wk Jan.
Vioksb. & Mer. 3dwk Jan.
3d wk Jan.
Vlcks.Sh.
Erlangcr Syst 3d wk Jan.
Oln. Rich. &Fts'A'. 3d wk Jan,
Cln. 8el. & Mob.. I>ecember01n.Wa8h.&Balt 3d wk Jan,
OleT.Afcron &C0I 3d wk Jan.
Clev. «fc Canton December
Clev.Col.C.&In<i November.
Whole system. TJecember
Clev. <fe MarlcttH 3d wk Jan.
&P
wkJan
wk Jan
Ool.Hock.V.&T. 3d wk Jan.
Denv. & Rio Or 3d wk Jan.
Denv.&R.G.W. 3d wk Jan,
Color. Midland
Col. & Ciu. Mid
3d
Ist
November
Den.e.P'k &Pac.
Det.BayC.&Alii
Pet.Lan8'g&No.
DuluthS.S.&Atl.
3d
wk Jan,
tdwk
Jan,
December
wk Jan
B.Tenn.Va.<S£Ga. id
Brana.&lnil'plif 3d
Flint
&
H
& T.
P. Marg.
BvanST.
Flor.
wk Jan,
wk Jan,
3d wk Jan.
3d wk Jan,
3d wk Jan
3d wk Jan
Id wk Jan.
3d wk Jan
.3(1
Ey Nav. Co
FtW.&Den.Citi
Den. T.<Si Gull
Den. T.& Ft.W
tWhole syst' 111.
Georgia Paulfio November.
Gr. Kap. &lud... 3d wk Jan
Other II lies
3d wk Jan
Grand 'IVunk... Wk Jan.iy
Gull Col. AS.Fe November,
HouB.&Tei.Cen. December.
Humest'n&Shci) I>ecember
Bl.Cen.dll &80) December
Cedar I'.&Min. December,
JDub.dSio'xC. Der ember.
Iowa lines
December.
Total all
December
Ind.D«c.&\Ve8t. December.
Iowa Central... 3dwk Jan.
j
I
.
.029,108
I ,400,371 1,657,078 14,260,107 16,905,412
111.808
43,069
G9,546
12,018
.
.
,381,5fi2
11,154
48,822
12,418
. .
153,891
41,684
59,''90
9,062
1,248,633
420,618
1,609,251
120,983
97,352
36,244
45,834
12,922
135,9,i7
249,6.?4
238.3'!'
1.54,899
110,633
203,068
49 965
7,674
33,850
,230,839 2,346,834
40,207
39,755
8,108
10,466
348,000 276,37^
,910,627 2,191,563
7,703
4,14
220,250 178,753
615,790
20,387
49,689
8,740
67,327
36,324
22,627
11,881
10,973
149,132
6,623
17,321
35,629
12,104
32,201
343,968
644,809
4,084
23,404
718,548
18,614
46,492
7,642
58,705
27,104
14,017
7,772
7,225
115,723
6,191
5,957
42,982
134,600
22,000
96,372
6,654
13,788
46,4<'6
117,631
4,475
15,466
44,068
25,957
18,376
14,626
17,711
6,417
15,828
37,980
9,572
28,801
424,437
745,509
5,20
104,418
3,118
14,901
44,012
22,840
11,300
ftO,714
133,057
36,064
3,129
316,9G3
335,902
273,648
15,000
124,158
33,766
3,325
286,689
387,200
232,00C
17,420
,147,623 1,156,304
9,568
9,720
149,766
159.334
l,d76,696
417,949
204,638
l,064,2ui
410.893
170,257
to
Latest Date,
1888-9.
1887-S.
1,539,124
913,334
113,021
133,254
39,600
1,368,621
1,447,333
78fi,823
108.732
135,750
37,886
1,335,754
678,644
544,000
276,348
468.202
159.078
168,798
,306,957 1,325,102
43,424
32,391
30,117
22,829
9
15,433
153.796
8,256
13.433
140,076
8,113
81.137
6,487
1,662
47.052
34,858
15,293
13.324
211,212
50.267
20.165
272.370
28,077
44,525
92.208
6.773
41,545
120,189
1,045,454
16,641
3.723
459.687
120.122
249,103
27,663
3,414,780
418,393
17,519
1,067,467
19,461
3,469
425,763
97.541
232,559
36.648
3.238.371
550,639
20.105
875.310
89,446
157.875
811,067
69,804
33.60(1
89.967
5,054
1,920
48,780
39,190
21,067
14.929
216.205
37,530
17,519
312,970
34.019
55,002
82,731
8,624
42.548
106,317
1.069
245.730
94.457
37.233
17,780
111,500
570,556
171.26t(
911,320
100.995
172.934
1,012,212
88.269
117,764
289,724
109,084
341,282
4,7.53
174,043
77,317
30,735
15,367
126,414
573,124
180,169
259,677
275,482
3.318
73,772
2,380,065
173,846
105,332
50,340
1,374,522
6,228,451
2,302,992
2,590,714
3,123,280
11,633
1,799,176
100,387
88,036
46,601
1,491,388
7,343,586
2,397,698
2,579,644
302,930j
2=5,1251
3,0.^5,917
4,102
11,375
"1,036'
803.19(i
750.875
3,000.851 .229,021 35,283.584 36.296,024
2,141,803 ,232,648 27,009,353 26,853,269
492,637 560,101 5.694,260 5.858.815
429.8t;9
425,857 5,340,064 3,054,276
40,177
25,589
123,694
93,6.82
50,344
488,114
251,074
20,296
76,557
10.247
48,411
4-2,542
25,.300
135,643
84,108
55,108
542,158
157,389
31,393
75.214
6.746
60.153
.
!
<
;
'•
.
1887-8.
4,079
69,298
3,824
.
.
.
I
.
.
!
919,208 1,015,752
1,999,382 2,001,723
543,426
604,476
64,869
55,934
110,442
101, .t50
1,842,919 2,134,196
21,621,194 25,412,690
121,130
110,780
29,856
34,279
1,111,000
961,185
25,832,973 27,140,725
63,469
66,271
2,330,705 1,739,261
5,958,744 6,341,708
39,228
36,329
140,330
135.592
29,330
22,074
201,159
173,173
102,240
84,630
63,222
45,422
2-',0.i7
36,222
31,004
28,706
433,847
3.59,988
19,027
19,561
123,519
122,969
124.319
113,910
35,450
30,243
379,183
373,413
3,950,88
4,199,715
7,581,339 8,056,007
13,91!)
16,981
76,159
6,19'
5,957
152,692
148,500
398,000
415,100
76,350
57,475
994,659 1,192,467
23,457
18,344
44,843
38,421
1,469,882 1,465.230
335,100
316,349
13,721
11,083
44,438
43,664
129,116
128,532
78,257
69,471
54,800
42,800
39,-36
45,556
140,093
1,181,194 1,133,273
103,735
90.123
8,679
8.243
927,122
895,200
2,875,363 2,582,959
2,777,157 2,820,435
155,208
101,761
ll,752,.'i30 11,808,036
98,387
113,187
1,664,401 1,565.064
1,762,768 1,078.250
13,515,298 13.546,287
376,017
417,407
85,056
70,096
5.593
79,981
4,267
70,744
7i',355
1,445.901
1,395,183
297.018
506,029
5,703,857
265.075
454,663
5,722.641
478,669
87,681
228.970
20,238
532,770
733, '201
81,008
244,818
3d wk Jan
27.966
Ohio River
606,140
Ohio Southern. November.
1.896
1,815
Ohio Val. of Ky 3d wk Jan.
a73, 265
37,439
37,830
Omaha (fe St. L.. Sovem-er.
Oregon Imp. Co November. 419,181 393,252 4,540, 469
INovember.
N.
Co
615,273
616,057 5,854, 263
Oi«g. R. (fe
243,004 199.781 2,42(!, 615
Oreg. Short Line November.
December
Pennsylvania.
1,808,083 ,892,954 58,172, 077
11,'206
11,116
PeoriaDec.(.feEv. 3dwk Jan.
36, 851
December,
33,35B
34,293
413, 508
Petersburg
Decenibcr
257,164 328,637 4,3T3. 012
Phlla. >fc lirie
Pbila. ^ Read's. December. 1,517,000' .715,6.36 20,610 746
Coal (fe Iron 'o. December 1.125,563 1 ,573.422 18,375, 794
I>ecember 2,642,6293,,289,078 38,992, ,540
Tot.both Co's
loo; 262
38,728
31,769
Pitts, (fe West'm Jd wk Jan.
P'rtBoyal(&Aut'. )ctober
32,398
268 312
30,659
34,358
255, 036
37,748
Pt. R'al (fe W.Car. October
11,714
l'J5, ,72'
Prescott. & Ariz. December
8,639
Blch.ifeAlle.KU'y. Wk Jan. 25
21,155
8,582
81, 488
B.tW.P.Ter.Co430,523 395,898 4,595,998
Eich. & Danv December
148,301
148,783 1,846,983
Va. Mid. Div.. December.
913,:.57
89,774
85,835
C. C. (fe A. l>lv. (December
645,625
71,939
61,278
Col. (fe Or. Div December
63,036
663,974
West. N.C. Div December.
5-i,541
9,76i,
10,400
121,995
W.O. (feW.Div. December
Div.
December.
117,156
(feSp.
9,900
8,500
Aflh.
252,' 01
cTotal all ... dd wk Jan,
223,952
709,865
I'etera'j:
December.
22,901
266,516
it
19,577
Kloh.
EomeW. ifeOg..! December. 267,36- 264,161 3,3.=>7,353
18,155
18,442
57,730
St.Joo'phi Gr.I.'3d wk Jan.
54,926
19.350
St.L.A.(.feT.H.Bs. |3d wk Jan.
18,830
[SdwkJan.
182,842
65,706
St.L.Ark.(feTex
54,495
271.6-(9
St.L.&8aiiFran.: n'. wk Jan.
96,000
80,842
St.Paul&Dalutii Deeeiiiber
81,200
132,931 1.479, -.;5i
858,050 905,264 9.284,921
St.P.Min. i Man. iecember
8.Ant.(feAr.Pass 3d wk Jan.
22,119
01,184
13,733
November.
611,246
49,607
70.723
Scioto Valley
77,1'27
621,684
71,489
Seab'rd & Roan November.
15,-225
Seattle L.S.fc E December.
836,562
ShenaudoahVal December.
63,000
71,223
129,837
119,674 1,145,525
South Carolina. November.
So.PaciticCo.—
Gal.Har.&S.A. Novornber. 398,156 291,208 3,459,754
97,375
76,914|
883,327
Louis'a West-. November.
Morgan's I>&T. November. 587,008 554,584 4,644,6S3
10,108
13,157
130,688
N.Y.T. &Mex. November.
141,911
108,391 1,312,270
Tex. (&N. Orl. November.
Atlan'c system Noiembcr. 1,240,5.SS 1,044,255 10,430,71
Paclflo system November. 2.930, r27i2,09O,909!32,291,203
Totalotall.- November. 4,170,715 3,733,224 42,721,921
So. Pac. RK.—
142 ,765 1,931,550
No. Div. (Cal.) November. 185,001
521,132 465 ,902 6,122,103
So. Div. (Cal.) NovemT)er.
Arizona Div. November. 101,630 169 ,176 1,923,589
916,725
NewMex. Div. November.
78,584
59, ,202
82,550
10,926
9, ,510
Spar. Un. & Col October
912,419
Btatenls.Rap.Ti December55,52»
50, ,667
114,074 122, ,937 1,442,671
Summil Branch December
Texas (fe Pacillc 3d wk Jan. 121,820
99, 469 ' 371,465
45,597
Tol.A.A.(feN.M'l, 3d wk Jan.
14,927
9, 048
64,574
Tol.(feOhioeeut. 3d wk Jan.
19,550
22, 427
48,676
3d wk Jan.
16,676
Tol. P. (fe West
19, 139
76,958
Tol.8t.L. (feK.C December.
40, ,878
Union Paciflo... November. 2,636,238 2,597, A8r> 26,880 398
663, 529
54,576
52, 384
Valley of Ohio.. December
Wabash Rallw'y -Vovomber. 564,042 590, 850 6,028, 069
29'), 494
3d wk Jan
95,! 93
91, ,787
Wab. Western
461, 943
51,159
50, 142
Western of Ala. December.
51,'200
161, 000
WcstN.Y..&Pa 3dwkJiin.
47, 300
December.
96,84b
iSVestJersey
98, 897 1,556, 034
60,49n
W.V.Cen.APitt3 December.
657, 110
44, 629
15,632
15, 581
49, 218
Wheeling & L. E. 3d wk Jan.
644, 009
95,918
81, 057
WU. Col. (fe Aug. October ...
49,564
143, 147
46, 244
llWisconsin Cent 3d wk Jan.
3dwk Jan
OMOi&Miss
696.128
33,724
155,000
597,000
26,537
328,196
56,975
490.868
762,106 6,593,775 6,019.7-21
992,478 13,177,478 11,424,075
1,300,303 14,615,850 12,427,832
10,213
85,424
73,538
41,284
451,962
403,296
10.962
66,409
66,670
250,740
87,232
181,884
51,215
7,787
37,089
127,000
31,675
75,740
8,678
15,603
1888-9.
S
Kanawha& Ohio 3d wk
and to
Jan. 1
BOAOB.
!
395,005
3,796,502
4,830.409
1,84(1.257
)5,671,313
36,626
300.031
4,036,931
11,903,073
.9,6.50,704
11,559,777
95,307
26 -5,251
231.034
91.391
34.963
(
'
I
.
,
.
4,373.512
1,682.873
870.416
562,934
682,781
118,931
81,765
633,049
231.590
3,222,607
53,021
51,972
162.485
249,532
1,694,340
8,736,304
48,514
726,224
571,796
902,663
1,094,495
3,032,306
765,948
4,003,606
154.990
1,148,438
9,165,287
25,975,049
35,140,338
1,590,163
3,892,504
1,521,815
635.799
59,614
855,490
1,358,815
374,477
31,193
71,688
51,165
26,,313,894
624.104
,386.896
267.619
487.779
147,500
,469,216
413,866
44,900
604,218
134.944
All Uuos InoludeiL
And branches.
; Mexican ourreney.
I Includes whole system from Fort Worth to Denver, but uotearolrga
onjolnt track— Pueblo to Trinidad.
c Includes also the Ga. Pao.
{ Including Iowa Falls .t Slonx City.
6 Including iu 1889 Guadalajara branch.
*
||
.
.
Februabt
2,
M
January embraces 70 roada, and shows an increase of
iiO
per cent.
of January.
1889.
"T
lncTta»t.
Dtertatt.
1888.
«
S
(26 roatls)
Atlantic A Piiolllo
•Burl. ('. I!. A Northern...
Calrti \'ni.
A
CnHcUL.-..
EiLSt. Ills
Jack, dc Mitoll.
.^;
Cliicauiiili
1,714,153
60,.''>4ti
39,871
13.01H
40,207
8,740
67.327
36,324
22,627
11.8S1
10,973
6,623
Chio
Cln. N. o. A Tr.xas Pno...
Alabiuiin tit. Southern
N(»wOrh>iinH & N. E....
VlckslMirs A Mi'ndian..
Vk'k.<lHiru Shrev. A Pao.
Clucimiail Rich. >t Ft. W.
CIn. W.i,4!i. 4. Biilt
ClevehiiKt Akron A Col...
CloveluiiilA Marietta
3.5,620
12,104
4,084
127,000
31.675
8,678
117,631
44.008
DeuvcrA; Rio (iraiide....
Denvpr A R.Oraiule Weal.
Delrort I!a.v c. A .Mpena.
BaatTciui. Va.&Oa
Flint & IVre Maniuetto..
ricniila i:v, & Nav. Co...
2.=^,957
Fort Worth A l>cnv.Cll;y..
Grauil Ilnpids <ScInd
Other lines
18,376
36,084
3,129
316.96H
30,117
5,593
Tmuk of Canada
Kanawha A Ohio
Keokuk Jc Western
Lake lirlo * Weetem
loulevili.-A Nashville
Memphis & Charleston.
Natchez Jac k.-on AC...
Kprfolk A Western
Ohio Iniliana A Western.
Ohio & Mississippi
'Grand
Iowa Central
5,0.54
39,196
312,970
42,548
4,102
93,0-2
20.296
76.557
10.247
..
Ohio Hirer
Ohio Valley ot Kentucky.
1,890'
Peoria Dec. A Evang
IRleh A W.Pt.Ter. Sjsteni
St. Jo.si'ph
11,116
252,501
18,155
1 9,350
65,706
22,11H
16,670
95,193
A(ir. Island...
BtL. Alt.AT.n.,brancheB
BL Louis Ark. A Texas...
Ban Antonio A .\r. Pass..
Tol. Peoria
A Western
Wabash Western
Total (70 roads)
Ket increase (14 50
«
3,971,720
311,192
9,956
1,422,068
59,590
19,107
"5,963
45,834
12,922
39.755
7,042
68,705
27,104
14,917
7,772
7,225
0,417
37,980
9,572
5.207
134,600
22.000
0.654
104,418
44,012
22,840
11.300
33,766
3,325
280,689
22,820
4,079
6,487
34,85B
272,370
41.545
3,318
84,108
31,S95
75,214
6,7^0
1.815
11,200
223.952
1«,442
18,830
54.495
13,733
94
452
1.098
8.622
9,220
7,710
4,109
3.748
206
2,351
2,532
1.123
7 000
9,675
2.024
13,213
167
Deeember.— —
1887.
<
$
A
257,101
Gross.
Net...
.
433
&
3 months
JNet ..
W.Jeraey A brauches.Gross.
218,172
96,840
Not...
Whltebre.-ist Fuel Co. Not. ..
WiscoDsia Central... Gross.
Not...
Elizab, Lax.
&
B. S
Mexican National
1,433
4,338
40.600
So. Pac.
ER.—
Gross.
Gross.
Net...
Net...
's'.oog
Arizona Div
1,343
3,501
81
""90
23,540
25,739
273,270
91,987
"287
New
501,901
19,7,54
193,899
278,189 3,808,944
.
1887.
.
Jan. 1
1888.
the year
CFor
45,712
109,644
1,469,216
to
492.9.57
146,895
3,723,108
Nov. 30.-,
1887.
a
S
142,765 1,931,5.50
57,377
890,079
465,902 0,122,108
108,421 1,550,980
169,176 1,923,589
63,501
279,199
59.'- 02
916,725
20,484
277,003
& Hudson
Delaware
'2,163
p. o.)
1,5.56,034
1,590,103
731,182
3,892,.504
1,267,790
1,521,815
004,535
635,799
265,616
ANNUAL REPORTS
11,211
8,386
54«,770
503.058
185,001
88,890
521.132
138,021
164.631
Gross.
Net... def.7,935
Mexico Div. ..Gross.
78,584
Net...
36,781
520
3,468,662
..
80. Div. Cal
9,574
3,400
98,897
666,860 750,428 7,053,320 7,269,285
Net...
224,172 305.504 2,337,595 3.008,899
.Gross.
87,232 110,633
919,208 1,015,752
Net...
31,486
48,168
272,109
378,551
Gross. 229,961
178,410 2,142,543 1,621,835
Net...
32,020
28,083
38,028
194,335
No. Div. Cal
1,003
784
1,579,881,
1,593 def.3,968
Roads.
Deny. A Rio Grande. Gross.
108
4,036,931
Iron Co
\ovem ber.
30,274
7.288
1,514
S
V
328.037 4,.373,042
87,007 1.639,954
Reading
1888.
3,117
7,076
2,298
19,13S)
Jan. 1 (o Dee. 31.—
1888.
1887.
ft
firosa. 1,517,006 1,715,056 iO,fl 10,746 21,903,073
Net...
027,6 15 793,032 9,721,049 11,310,911
Gross. 1,125,503 1.573,422 18,375,704 10,056,704
Net... dt 251,020 df.46,204 df. 177,007 1,423,928
Total both Co'«..0 loss. 2,642,029 3,289,078 3H,'i92,540 41,6.59,777
Net...
375,725 747,428 0,546,982 12,734,837
Pittsburg & Western. Gross.
177,691 172,377 2,030,454 2,041,8f3
Not...
52,658
47,330
509,381
494,487
Julv 1 to Dec. 31. (Gross.
1,118,843
mouths
5Nct. ..
280,747
319,647
Rome AVat. & Ogden. Gross. 267,368 204,161 3,357,353 3,222,607
Net...
108,497 107,830 1,439,162 1.138,478
Oct, 1 to Doc. 31, (Gross.
880,918
861,310
3 months
JNct...
899,347
405,04 5
Tenn. Coal A Iron Co. Net..
77,000
72,000
695.600
626,.300
Gross.
West, N.Y.APa
248,753 237,131 3,177,990 2,786,28.5
Net...
04,162
867,898
572,511
56,137
Oct. 1 to Dec. 31. (Gross.
847,184
7:<0,759
I'hila.
56
91,787
.
1888.
.
Roaitt.
Phlla, A Erie
Coal
PreVly reporfd
—
THE CHRONICLE
1889.]
Latest dross Earuingrs by Weeks.— The latest weekly
eamitiKB in the foregoing table are separately summed up
as follows.
In its complete form, our statement for the third week of
3il vieek
,
The report
the following
Cana].
ending December
31, 1888.^
of the President, Mr. Robert M, Olyphant,
ha
:
"The year 1888 marked the largest output of coal in the
For week ending Jaimary 19.
t Includes the Geoigla Paciflc.
history of the anthracite industry, and during the active
Net Earnings Monthly to Latest Dates. The tables follow- season of the year the various companies were taxed to their
ing show the latest net earnings reported this week, the utmost capacity to supply the cor.sumptive demand.
" The total mining for the year was 38,145,718 tons, and of
returns for each road being published here as soon as receivedi
but not kept standing from week to week. The figures cover this amount 4,442, 6ys tons were mined by your company.
" The result of the business of the year is as follows
the latest month and the totals from January 1, and also tlie
tons
4,442,638
totals for the fiscal year on those companies whose fiscal year Coal produced at mines of the Co
Coal transported for others
tons
1,153,933
*
—
:
does not correspond with the calendar year,
r
Roarff.
Decern ber.
1888.
1887.
,
$
$
183,545
76,107
35,398
179,048
73,727
33,724
-Jan. 1
1888.
S
to Uec.
31
188'
.?
—
Total tons
The gross
5,.596,571
receipts were
00
"
$20,7.29,180 05
Expenses
14,044,710 10
2,09S,965 2,029,1 Oo
900,928
797,77o
$',684,469 95
696,128
678.044 Less taxes, interest and rentals
3,340,335 60
Net... aef.1,750 def.o,314
131,493
138,504
Canadian Paciflc
Gross. 1,14(!,441 1,151,741 13,195,535 11,606.413 Leaving net earnings
$3.344,13 4 35
Net
418,672 303,707 3,870,776 3,504.118
or 13''5joo per cent.
CapeFearAYad. Val.Gross.
28.910
270,317
26,537
328,199
" This rtsult has been reached by the large amount of coal
Net...
13,916
153,740
133,795
13,631
Apr. 1 to Dec. 31. ? Gross.
245,269
208,000 sold, and not by a high price for the product, as the coal at
9 months
jNet...
110.975
99,937 tidewater realized only ^3 673^ per ton. The large business
Central of N.Jersey. Ciross.
977,212 992,478 13,177,473 11,424,075 also resulted most beneficially to the miners, by giving them
Net...
384,637 423,788 5,973,405 4,993,902
far more steady employment through the year. Your manCto.N.O.ATex. Pac.. Gross- 319,497 298,097 3,024,490 3,377,552
Net...
129,000
95,109 1,125,000 1,260,766 agers are pleased to state that the expectation, held out in
KewOrl. AN. E....Gro.'iS. 111.517
83,635
900.341
711,782 their last report, of increased business over the leased lines
Net...
48,000
35,000
160,000
136,000 has been realized, and the profit and loss account of their
VicksburgA Mer... Gross.
73,534
64,341
505.675
558,690 working, notwithstanding a continued heavy outlay for imNet...
40,000
24 ,000
111,000
110,000 provements, shows a credit of $180,110 60.
Vicka. Shrev.A Pac. Gross.
" It is gratifying to kno%v that the extensive betterments,
67,315
608,207
71,758
508,733
Net...
23,000
37,000
133,000
184,000 undertaken and carried on at heavy expense for some years,
Denr.ABio Gr. West. Gross. 120,886 101,942 1,366,622 1,181,320 have
been noted by the Board of RR. Commissioners of this
Net...
42,824
341, '.t^8
21,802
396,058
referring to the Albany
loulsvllle (ScNashT'c. Gross. 1,454,222 1,449,562 16,043.199 16,042,1 76 State, and in their recent report,
' its improvement in the last five
Net...
646,147 575,179 5,786,568 6,325,33' Susquehanna RR., they say
, ,
July 1 to Deo. 31. ) Gross
years has been remarkable,' and then, making complimentary
8,:«)7,2.56 8,624,299
6 mouths
JKet
3.214,680 3,520, -^lO allusions to the smaller and branch roads ot the Delaware
H. Y. L. E. A West.... Gross. 2,1 41, 803 2,232,648 27,009,353 26,853,269 Hudson system, they report on the main line from Albany to
Net .. 084,082 684,230 9,200,925 9,106,201
„ ,
'
Rouse's Point as follows
The entire rail on this division
>et, less prop'n due leased
roail.s oper. on a "6 basis.
495,469 481,517 0,857,580 6,717,228 is in vtry good order. As a whole, the track adjustment is
Oct. 1 to Dec. 31. ( Gross.
6,904,117 7,173,1)51 of a hiKh standard. Between Albany and Saratoga, along
3 months
)Net. ..
2,500,773 2,520,367 the border of Lake Champlain and north of Plattsburg are
Net, less prop'n due leaaed
roads oper. on a % basis.
1,897,948 1,869,712 sections that have been brought to great accuracy of surface
N. Y. Ont. A West... .Gross.
122,062 119,485 1,689.431 1,550,169 and line. The mechanical structures, great and small, on
Net...
9,010
6,257
236,065
264,122 this division are all in safe condition. 'There is an immense
Oct. 1 to Dec. 31. > Gross.
402,448
396,714 amount of such structures, and their improved condition,
3 months
JNct. .
55,014
35,600
since the inspection of 1883, is highly commendable.' The
Norfolk A Western., .(iross.
409,' •27
400,428 4,899,599 4,254,794 long
and exhaustive report of the Commissioners concludes
140,' 10
Net..
182,059 1,897,67
1,771,014
'
During the past two years very
Northern Paciflc
Gross. 1,481, ,523 1,181,773 18,060,104 13.854,319 with the general remark :
much h.ts been done in improving tlie property owned by the
Net...
517,406 472,990 7,046,172 6,040,291
July Ito Dec. 31. > Gross.
10,020.941 8,407,105 Delaware
Hudson Canal Company, and during the past
6 months
^Net...
4,357,025 4,131,585 five years a large portion of the structures have been rebuilt.
OI1I0A Mississippi.. Gross. 401.122 345.919 3,868,984 4,128,305
The roads now rank witli the other trunk linos of the State.'
Net
142,058
112,614 1,117,444 1,430.411
July 1 to Deo. 31. > GrosB."
Your managers intend to continue the work of improvement,,
2,128,400 2,237,04 1
6 mouths
jNet...
697,911
824,030 being satisfied that the ability to minimize the expense ot
Allegheny Valley
Gross.
Net...
Cam.AAtl.&br'nchss.Gross.
&
&
,
:
'
&
.
THE CHRONICLE.
168
operating the lines rests most largely upon their being in the
best possible condition. The additions to equipment duriag
the year were: 1,200 freight cars, 8 passenger cars, 18 locomotives. And there are now under contract 400 freight cars,
8 locomotives, 6 passenger cars, and about six thousand
tons of new steel rails have been laid.
" During the year your managers have paid for the controlling interest acquired in the Rutland Railroad.
" In answer to inquiries, made from time to time, respecting
the coal properties of the Company, their extent, &c., it is
enough to say that the Dataware
Hudson Canal Co. control
as much coal, and perhaps more, than is controlled by any of
the anthracite interests, excepting only the Reading Company, and in this connection answer may be given to a question frequently asked as to what sinking fund provision is
made to meet the annual mining of coal. No special provision has been made under that head, but a reference to the
condensed balance sheet will show that your managers hold
in available assets an amount aggregating thirty per cent of
the capital stock and funded debt.
"In such position, with no floating debt, and with coal
enough to last for several generations, and with dividends
controlled by earnings, all the conditions of a sinking fund
seem to be fully met.
'
After very careful examination your managers have determined to make the dividend for the year 1889 at the rate of 7
per cent, payable quarterly as usual.
" The plan for retiring the $5,500,000 of Bond smaturing in
1891, outlined in the last annual report, was acted ou and
approved by the stockholders at their annual meeting in
31ay. Stock to the extent of fifty-five thousand shares will
therefore be issued, as of the 15th December, 1890, to all
stockholders of record at the date when notice is given, and
at the rate of 75 per cent for full paid shares."
it.The results of operations for four years past were as below
given, the net being a little over 5 per cent in 1885-86, 11^
per cent in 1886-87 and 13-65 per cent in 1887-88.
&
'
,
1888
S
1887.
1888.
9
6,968,449
7,455,450
847,267
7,081,842
8,239,747
692,278
9,951.163
9,189,974
10,6.!2,067
461,507
55i,892
15,260,866
10,724,906
16,013,887
11,422,854
19,602,644
13,338,570
20,72^,180
14.044,710
4,535,960
4,591,013
6,214,074
6,684,470
3,349,564
3,415,526
3,303,763
3,340,336
1885.
Beeeipli—
From coal
From rallroEids
Fiom miscellaneoua.
?«B Total
Oper. expenses
Net
9,554,221
Taxes, Interest and
rentals
Balance
1,186,396
Comparative
Cheoniclb are
1,175,487
2,910,303
3,344,134
for four years compiled for the
statistics
as follows:
PKOFrr AND LOSS,
1885.
1886.
1887.
1888.
$
Reeeipts—
Sales of coal
7,201,049 7,399,095
CanaltoUs
54,551
58,410
Int. on Invest. AmlsecU..
792,716
633,867
Coal on hand (Dec. 31)
649,905
332,653
Eallroad earn'gs In Penn694,941
841,662
Proflton leased lines
Total
9,393,162 9,li65,6S7
JHstmrse^nents
k
Coal on hand Jan. 1
892,804
619,905
Mining coal
3,975,297 4,239,907
tt-ans.totidew'tervlaErle
592,803
873,517
Transportation expenses,
canal, lease, &c
826,987
767,151
Interest
1,082,768 1,069,067
Termlnlexpense&mlscel.
300,453
285,230
?»?e8---,"-------222,323
183,699
^oes on leased railroads..
313,330
21,695
Balance
1,186,396 1,175.485
Total
9,393,162 9,266,687
—
10,100,118 10,604,465
66,505
56,675
395,001
496,217
183,697
201,299
1,147,134 1,041,756
130,111
11,892,457 12,530,522
332,652
5,019,147
1,159,114
183.€97
5,313,138
1,164,S27
885,810
932,2S2
973,571
986,994
402,656
436,'^62
171,577
169,189
37,622
2,910,305 3,344,134
11,892,457 12,530,523
OENERAi BALANCB AT CLOSE OP EACH FI8CAI. TEAK.
1885.
1886.
1887.
1888.
.
,
Attett—
$
Canal
6,339,210 6,339,210 6,339,210 6.339,210
Ballroad and equipment. 7,134,018 7,257,329 7,276,62.0
7,457,660
Keal estate
9,628,325 9,725,394
10,894,093
Mine Improv'ts. tat'es.&c. 2,795,576 2,792,511 10,767,387
2,815,814 2,839,869
Ooal-yard, barges, &c
934,856 1,007,821
'
893,723
890,20
some 40 pages. la the meantime the officers of the
company, in response to many inquiries for information, have
issued a general summary of the tablf s which will appear in
phlet of
that report.
Very little is said of the auxiliary companies, and it is pre
sumed that a full and detailed report of their assets, liabilities
& Susquehanna RR.
Hew York & Canada RR.
Cherry Val. & Sharon RP.
Meohan.&Ft.KdwardRB.
Bohen. <& Mechan. KR
Alb'y & Susq. construct'n
Ooal on hand Dec. 31
1,022,938 1,022,938 1,022,938
3,597,074 3,597,074 3,878,724
300,000
300,000
300,000
59,131
59,972
59,972
211,765
212,993
212,993
"
1,022,938
3,896,666
210,000
59,972
213,761
93,418
201.299
649,905
332,652
183,697
Advances to leased lines.
330,737
861,729
404,864
32'^,<(33
Advances on coal royalties
720,055
756,040
766.149
788,185
MlsoellaneouB assets
2,740,040 2,586,396 '2,604,359 4,176,519
Telegraph
and. Car Ck)
43,035
„
-,. -^
14,735
14,735
14,735
pUe8,tools,&o.,onhand
1,185,028 1,135,412 1,200,174
W»8hibms&ao'ct9reccl7. 3.964.939 4.459,007 5,255.912 1,261,877
4,932,029
41,656,642 42,4bl,-.^ia 44,017,310 45;?20,b7i
,
IMMit^^
24,500,000 24,500,000 24,500,000
US?J;
;-- 15.378,000 15,378,000 15,378 000 15 378 000
SSS?1;
aior><\o
Vn,i'o<sn
'^."'Vxr '-^':ii?'^"^
Muoellaneous
accounts..
812,002
694,392
,_-^
,,
651,134
733.69
Proflt and loss
1,966,640 1,888.821 3.488.1 76 .5,008,680
Total liabilities
41,656,643 42,461,218 44,017.310 45;620;372
?|>52<''*'<'°
il
_____
and income accounts will be given in the forthcoming
The result of the eleven months of 1888 for the
report.
Atchison system was briefly this A net profit of $1,066,000,
if no dividends had been paid; a net deficit of |1, 558,999
after paying its dividends
and a net deficit of about
$3,000,000 on the auxiliary roads, of which $1,800,000 was
made up by the sale of their bonds, or from other resources,
thus leaving an actual cash deficit for the eleven months to
the Atchison company of $3,758,999. This matter is referred
:
;
to as follows
:
" The profit of the Atchison system proper for the eleven
months ending November 30, after providing for all fixed
charges of interest on bonds, rentals, taxes and sinking fund
requirements, was $1,066,000. The dividends declared during
the period amounted to $2,625,000, leaving a deficiency as of
November 80 of $1,558,999.
"The estimated net profit from operations after all charges
for the month of December U $150,000. The total net deficiency of the company for the period of twelve months to
December 81, including actual figures of November 30, and
December estimated, is $1,408,999.
'•Upon actual statements to November 80 and approximates
for December, the auxiliary roads of the Atchison system,
exclusive of those owned jointly, will show that they have
failed to earn their fixed charges of all descriptions by about
Of this they have made good from their own
$3,000,000.
resources about $1,800,000, the remainder having been advanced by the Atchison Company."
Mr. Magoun, of Kidder, Peabody
Co., who is one of the
directors, said to a representative of the Post in regard to this
statement and the policy of the company:
" Every one knows that the system is peculiarly constituted, inasmuch as it has so many auxiliary corporations.
But these, notwithstanding all that has been said against
them, will prove of immense strength in the future. The
-majority of them were in course of construction last year,
and of course they are not in a position to be remunerative.
They were built economically, but most substantially, and
without the intervention of construction companies or other
sehemrs for diverting money into other people's hands. This
fact explains the item of $1,800,000 made good by the auxiliary lines in the deficit which they created. Bonds were issued
for the construction of these lines for a little more than what
proved to be the amount required. If there had been a construction company this difference would have gone to it, but
in this case it returned to the treasury of the AtcQison. County
bonds issued in aid of the construction of the lines also helped
to make up the deficit.
"The company has been accused of recklessness in paralleling the Alton's line from Cbicagi to Kansas City.
Before
doing so efforts were made to purchase the Alton's line, but
they wanted $38,000,000. The Atchison's auxiliary line has
been built for $20,000,000. Its construction is most substanti%l, and the roadbel is so good that express trains can run
over it at the rate of sixty miles an hour. This line cost the
Atchison $5,000,000 more than was estimated for its construction and more than the proceeds of the bonds issued, and that
is the keynote of the company's difficulties,
I am satisfied
that this amount will be paid back out of the earnings of the
line within five years."
The first table below shows the income account of the Atchison
Company proper for the eleven months ending Nov. 30, 1888,
showing a deficiency after the payment of dividends of $1,558,999 in that period:
&
INCOME ACCOUNT FOD KLKVEN MONTHS TO NOV.
.
I/ack.
LVOL. XLVIII,
Gross earnings, average 3,020 miles
Operating expenses (67-7 percent)
9,673,775
Net earnings
$4,623,693
Add receipts from interest on bonds of railroads owned by
A. T. & 8. F. and used as collateral on trust 5 per cent
bonds
$508,892
Total
$5,132,586
Interest on bonds
Interest oq bonds, as rentals
Total
Interest on guarantee notes
Tales
Slnkluicfund requirements
$2,188,049
1,456,253
...$3,644,302
3,500
563,195
302,248
Total Uxed charges..
4,513,246
Net profit of the railroad
Receipts from other sources
$619,339
446,660
Proflt of the
company
Deduct for dividends declared applicable In the period,
eleven months to Nov. 30
Deficiency for the eleven months
'^:tlf^o7oor.t%'l^:^^%il&V:''^^
40,000 shares
30, 1888.
$14,';97,468
$1,086,000
2,625,000
$1,558,999
The next table shows the floating debt of the Atchison comRu^iZ pany
on Nov. 30, 18K8, including all interest on bonds accrued up
GENERAL INVESTMENT NEWS.
Atchison Topeka & Santa Fe.-This company will
issue
in about ten days a full statement of the financial
affairs of
it8 whole sjstem up to the end of
November, 1883, in a pam-
to that date, though such interest did not actually fall due until
some months later. This exhibit is as follows, excluding ac-
counts of auxiliary companies:
ABSTRACT OF FLOATING DEBT AS OF NOV. 30, 1888.
Accounts payable in current operating accounts
Bills payable
Bond Interest coupons, due Dec. 1 and past due
$2,019,966
4,486,552
490,970
Fbbroaky
THE CHRONlCUi
2, 18fc9.]
902,(i92
DlvkU-iiiU not i-lulmed
;•;
-.:-.•:
Bcrli> (•(MtilloHti'8
For uciriiliiKol>llK«tloii»
not <Uio until tntiiro dules,
tcuwton bomlK, itimniutoo notes androntato
•.
I,028..'i7»
40l,s(i2
(h»l:"i''<' inipiiid)
Tiixp»
Bliiklug
fund reumromcuts
Gross debt
^^^
;••
vl«.: In-
-
12"J,()U0
98,043,304
orlKlnfttlnt; In tlio ixsrlod
Accounts rooelvablo, due In current
91,709,268
oporutliiK ncoounts
BUts rewivnble
, _.S'i*9
_ „. „„
1,746,004- 3,457,412
Catlioiihiiud
Oilset^, viz.;
Net
lloiitlnn
95,185,891
debt
as of Nov. 80 material and
supplies to be ueeil in operationf, amountir g in value to
above, but which
Jl,523,118, which had not bten included in
should be considered ns that amount expended toward operations subsequent to Nov. 80, and hence as an offset to requirements to be then developed."
"The company had on hand
Boston & Albany.— The Boston & Albany Railway asks
the Legislature for $10,000,000 additional capital, making the
Seven millions of this is needed to pay
total 130,000,000.
bonds which mature in 1893 and 1893, and the remainder for
improvements.
Called Bonds.—The following bonds have been called for
payment:
Chicaoo & Western Indiana.— First mortgage 6 per cent
bonds, dated 1879, due Nov. 1, 1919, to be paid at 105 at the
Co., New York City, on May 1,
office of Drexfl, Morgan
1889, 41 bonds of fl.OOO each, viz.:
&
Nos.
1.391,
1,961,
2,675,
65, 73,
1.124,
2,023,
2,726,
110, 138, 232, 272, 307, 314, 337, 395, 463, 1,350,
1,454, 1,620, 1,639, l,76if, 1,776, 1,812, 1,813, 1,860,
2,040, 2,055, 2.140, 2.276, 2,316, 2,344, 2,402, 2,424,
2,770, 2,991, 3,067, 3,121, 3,176, 3,231, 3,291'.
Mississippi River Bridge.- First morticage 6 per cent
bonds, dated 1877, due Oct., 1913, to be paid by John Paton
Co., 53 William Street, New Ycrk City, on April 1, 1889, 6
bonds of |1,000 each, viz.:
&
N08. 14, 18, 117, 124, 304, 579.
—
Central loira. Stockholders are reminded that the last instalment of 3 per cent on the common stock will be due Feb. 1,
payable to the Mercantile Trust Company, New York. Holders of coupon debt certificates and first and second preferred
and common stock who have paid full assessments are notified
that on and after March 4th the Mercantile Trust Company
will issue therefor new stock of the Iowa Central Railway
Company.
Denver South Park & Pacific. The committee of first
mortgpge bondholders has been negotiating with the representatives of the Union Pacific RR., and they have virtually
came to an understanding. Both of the old mortgages are to
be foreclosed, and a new company organized which shall
issue a first mortgage covering the whole road at the rate of
—
$11,100 per mile, bearing 4}^ per cent interest. These bonds
are to be put in trust as the basis of a 43^ per cent collateial
trust bond to be issued by the Union Pacific at the rate of
only $10,000 per mile, which bonds are to be given to the
holders of the old first mortgage bonds $1,800,000 (covering
only 150 miles of road), at par, and their coupon due Nov. 1,
1888, to be paid in cash, but at the new rate of 3^ per cent for
the half-year. AH the bondsof the old consolidated mortgage
are owned by the Union Pacific except $135,000, and the
holders of these will also receive the new Union Pacific collateral trust bonds at par in exchange for their old bonds.
The balance of Union Pacific bonds not thus disposed of can
be issued for improvements on the property as they may be
needed. The Union Pacific will own all the stock of the new
company, to be issued at $10,000 per mile on the whole 335
miles,
Fltchbnrg.—The report
of the Fitchburg Railroad to the
State Railroad Commissioners for the quarter ending Dec. 31 is as follows:
New York
Gross Income
Operating expenses
^ Net
Other Income
Total
Charges
Borplus
Houston
tice
1888.
91,510,460
1,119,234
1887.
91,406,469
973,872
9391,226
99,861
9432,!597
9401.087
305,210
9434.943
293,009
995,877
9147,852
$2,346
Texas Central.— The Commissioner gives noholders of first mortgage main, line and Western
St
to
divieion bonds that he will be ready to pay such bonds and
coupons appertaining thereto entitled to be paid out of the
proceeds of the foreclosure sale, at the office of the Central
Trust Company of New York, on the llth day of February,
1889.
159
The document
is
now
ready to sign, and a committee
is
to
obtain the sigoatures of the 22 roids that novr constitute the
The two other members of the Executive Board beside
list.
Mr. Walker are, by resolution, to be elected by the Board of
Managers.
The Chicago Burlington & Northern did not consent to sign
the agreement except on condition that the northern lake
routes (" Soo" line, &c.) be brought into it; but on the other
hand the company did not absolutely refuse to sign. It was
generally assumed that all the other roads would sign, and
that the Illinois Central would adhere to the terms of the
agreement whether it signs or not. Presidents Hughitt, Cable
and Strong constitute the committee appointed to secure the
signatures.
In the amended document which is now given to the publio
the original agreement of the Presidents, known as the agreement of Jan. 1, is taken from the body of the contract and
placed at the head as a prelude or introduciion. This is followed by the articles of agreement, the first of which defines
the objects of the association and the second the construction
of the Buard of Managers, &c.
Article III. is amended to read as follows:
" Rate committees appointed by the Board of Manni^ers for the freight
and pas8<'U(fer dppartmcnts eliall be constituted, whose province It shall
bo to establish races, rules iind legul.ations on the traffic subject to thla
association and to consider charges therein and make rules for meeting
competition with outeido lines. Their conclusion, whi-n unanimous,
ehall be made eftcctive when they so order, but It they differ the qveatiou at issue shall bo referred to the Board of Mananera, and if they dl9agree It shall be arbitrated by the Enecutive Board as hereinafter proIs'otwithstanding the decision of the arbitrators, the company
claiming the right to make any particular rate may, after euch dcci^loa'
make such rate on ten days' notice."
vided.
Article IV., relating to diversions of through rates, is also
It now provides that the divisioi s of through
rates shall be arranged through the association, the intention
being that the bidding for business by means of private concessions shall cease.
The penalty clause is so changed as to provide that $100
instead of $350 shall be the minimum fine for each violation
of the agreement, but in addition it provides that the company so convicted shall forfeit the revenue secured by such
amended.
violation.
Article XII. is amended by striking out the clause providing
that an employee after once being discharged for intentional
violation of the rules of the agreement shall not be reemployed by any road in the association.
Article XIII. defines territory to be coveredby the association as follows
The business to lie covered by this agreement shall be all the State
and Inter-State tratti(», both freight and passenger, which is competltlva
between the parties hereto, or any two or niore of them, which business
has origin or destination in the Slates of Illinois, Iowa, Missouri, Kansas. Nebr.ask.T, Colorado, Wisconsin, and Minnesota, and the Territories
of Utah, Wyoming, Dakota. New Mexico, Montana, and the Indian Territory, except Pacitic Coast business now covered under the present
agreemeiit of the Trans-Continental Association lines, Texiis business
now covered under the present agreement of the International Association lines, and businee.s between poiots north of the Ohio River and
Soiuts south of the Ohio River, both of which are east of the Mississippi
:
;tver.
By unanimous action of the managers of the interested lines
any tratUo may be included In this agreement or exempted from it.
The duration of the agreement is to be absolutely ninety
days from Jan. 1, 1889, subject to thirty days' notice thereafter of the desire of any party to withdraw from or amend
the same, and in case any such notice shall be given the
Chairman of the Executive Board shall forthwith call the
Presidenfs together to consider the matter.
Maxwell Land Grant.—The Supreme Court of New Mexico
has given a decision in the Maxwell Land Grant case, affirming
the title to that property, and dismissing the bill of the Gk>Ternment to set aside the patent.
Mississippi & Tennessee— Chicago St. Lonis & New Orleans.— A meeeting of the stockholders of both these roads
has been called to take place at Memphis, Tenn., on March
29th, to consider a consolidation of the properties, the iesue of
$3,500,000 bonds on the present Mississippi & Tennessee RB,,
and a lease to the Illinois Central.
A
Missoari Kansas & Texas.— dispatch from Kansas City,
Mo., reports that Mr. Jay Gould, President of the Missouri
Pacific Railway Company, gave a contract last week for a
new piece of road to parallel the Missouri Kansas Texas,
The first section to be Duilt is 35 miles long, and will be completed within ninety day». This division of the new line will
itart at CoSeyvIlle and run southward.
Morris Canal.— The preferred dividend scrip of the Mortis
Canal & Banking Company, due February 1, will be redeemed
at par on that date by the Lehigh Valley Railroad.
New York Ontario & Western.- President Thomas P.
Fowler say6: "The directors have concluded to build an extension of the Ontario
Western Road from Hancock on the
main line to Scranton, a distance of 51 miles. It will not be an
independent competing line from tidewater to the coal fields.
But our main line already covers a distance of 168 milee from
tidewater to Hancock, and we have ample terminal facilities
at Cornwall and Weehawken for handling a very large tonnage."
&
&
Interstate Railway Associatloo.—The Presidents of the
Western railroads, after being in session in Chicago just one
week, completed their work of revising the agreement which
is to form the basis of the Inter-State Railway Association,
and adjourned on Wednesday subject to the call of the chair.
The last thing they did before adjourning was to declare
themselves unanimously in favor of making Mr. A. F. Walker
Old Colony. The Old Colony Railroad Company has petChairman of the Executive Board. Mr. Walker is at present itione»d the Legislature for permission to increase its capital
one of the members of the Inter- State Commerce Commission, stock by $3,000,000, to enable it to build proposed new conand it is said that a better choice cculd not have been made. nections, etc,
Final action, of course, cannot be taken until the agreePhiladelphia & Reading.— The gross and net earnings for
ment has received the signatutes of all the companies that are December (the first month of the fiscal yearj in 1888 and 1887
parties to it.
'ittv-i b<i6n as '^-I'lrv nUea,
The net earnrngs of both com-
—
-
THE CHUOmCLE,
160
panies aggregated $375,724 in December, 1888, against |747,*88 in December, 1857.
BAILEOAD COJIPAST.
—
December.-
.
Net earnings
COAL
A.
1887.
fl,715,R5G
922,024
$627,015
lEON COMPANY.
$793,632
,—
Netcarnings
A strike
of the drivers
E P I TOmTF!
Friday Night, Feb. 1, 1889,
of street cars in this city and Brook-
which continues, has proved a great obstacle to local
trade, but it promises to come soon to an end.
In a general
way business is dragging, except when stimulated by very
low values, and, except in cotton and its fabrics, there is
lyn,
December.
.
1888
1887
$1,125,563
1,377,433
$1,573,422
1,019,626
l033$251,920
loss$40,204
Gross earnings
Operating expenses
COMMERCIAL
.
lS<-8.
$1,517,060
889,421
Gross earnings
Expenses
[Vol. XLVIII.
— The foUowiDK petition has been open for signaiures at the
much complaint
that prices are not remunerative.
This
ig
especially the case with
manufactures of iron.
Wool has
1 ,8t pirt of the late advance, and is very dull,
as nearly al'
manufacturers are obliged to accept for gcods ordered about
the prices that were current one year ago.
The little excite"The iindcrsigned, holders of the several amounts set opposite their ment that grew out of Samoan affairs has wholly subsided.
rrspectlve naiuos, and each bcini! a holder of the third preference bonds
The market for lard has shown little spirit and closes nearly
of the Philadelphia & Reading Railroad Company, secured by the above
mortgage and amounting to riiore than one-tenth of the amount of said nominal at 6-85c. for prime city,
7"30@7-35c. for prime to
Ijouds now outstanding, herelty notify you, as Trustee, that they object
to the statement furnished by paid railroad company, showing the choice Western and 7 75c. for refined to the Continent.
For
amount of net earnings applicable to interest on the bond" secured by
said mortgage, and to the public notice given of the rate of interest paj'- future delivery there was on Wednesday some recovery on a
ahle on said bonds, in respect of the coupon theret)f maturing Febrttary demand to cover contracts, but renewed
selling caused de1, 1889, and require you to notify tne said railroad company thereof
prefsion, and to-day thtre wos a fresh decline, the close being
within the period provided for in article four of said mortgage, and to
investigate the boiks of said railroad company by your proper ollicer,
&
Messrs. Vermilye
Co., at 10 N^ ssau Street:
'•To the Pennsylvania Company for Insurance on Lives and Granting
Annuities, Tnistee under th tlilrd preference income mortgage of the
Philadelphia & Reading Railroad Cojjpany and the Phtladelphia &
Beading Coal & Iron Company, dated the third day of January, 1889:
office. of
or by an expert accountaut app fluted for the purpose, as provided by
said article four of said mortgage. Witness our hands this 2Sth day of
January, 1889. Vwrmilye & Co., $700,000; John Bloodgood & Cj.,
$200,000; C. S. Webb, $12,000; G. W. Carleton, $40,000.
The P.& R. Company has listed on the N. Y. Stoclc Exchange
$3,497,000 more of its general mcrtgage 4 per cents to be usrd
in taking up other obligations, making the whole amount
now listed $33,179,000.
a t about the lowest figures. The production is evidently verylarge, but the offerings are most liberaljfor the distant deliv-
eries.
—
nAILT CLO8IN0 PBICES OP'LARD rUTURES.
Saturd'y. Mond'y Tiiesd'y. Wednid'y. ThursO'y. Friday.
Feb.delivery
March delivery
April delivery
May delivery
7-24
7-25
726
726
7-27
7-26
0.726
7-29
727
729
o,
c.
7-35
7-36
7-40
7-40
7-42
7-44
7-44
7-33
7-33
7-35
7'35
7-37
7-39
7-40
7-26
7-26
7'.i7
c. 7-28
729
7-29
railroad and property are
JunedeUvery
0.7-29
7-30
7-30
730
on April 16, pursuant to the July deliver,
7-32
c. 7-29
7-31
730
plan of conaolidation with the Chesapeake & Ohio, Each Auir. delivery
.0 7-30
734
7-31
7-32
$1,000 second mortgage bond will take, after reorganizition,
Pork has been more active, but the market to-day was dull,
$350 in a new lecond mortgage bond, guaranteed, bearing 2 and prices weakened, closing
with an unsettled feeling at
per cent for one year, 3 per cent the next year and 4 per cent
for the remainin;^ 98 years; also $623 in newChesaprake & $12 50® $13 for extra prime, $ 12 75@ $13 50 for mess and $14 50
Ohio common ttock and $135 in a new income bond. This @$16 50 for clear lack. Cut meats have become dull and
Btatpment is male here to correct the remarks in the Invest- closed partially lower. Quoted Pickled bellies,
7@ 8c. f boulors' Supplement, whioh say that the seconds will take the
ders, 6}:i'@6S8c,; and hams, 9/8, ©lOJ^c; smoked shoulders,
$250 in new first mortg8g»^ bonds. The new firsts will bear
7@7J^c., and hams, ll@lli^c. Beef is nearly nominal at $7®
2 per cent for five years and 4 for 95.
Sonth Feun?yl¥ania.— The affairs of this company hive $7 25 for extra mess and $9 50@10 for packet per bbt.; India
taken quite a new tu.n this week, and instead of signing the mess lower at $17@$19 per tierce. Beef hams are dull at
Carnegie agreement, the Vanderbilts lave bought out the $12 75® $13 per bbl. Tallow is again lower,
but closes more
other parties interested at the price, as reported, of 60 cents on
active at 5 5-16c. Stearino quoted at 'i^^c. and oleomargarine
the dollar. This is in the interest of trunk line harmony, and
although no agreement U reported to turn the prop?rty over 7c. Butter is firmer at 20@30c. for creamery and 13® 20c. for
to the Pennsylvania Railroad, it Is well undeistood that such Western factory. Cheese in fair demand at 10@1233c, for
Richmond & Alleghany.—This
noticecl lor eale in loreclosure
:
action will probably be tat en.
Texas Central.— This road is un'fer foreclansre, and an appeal from the dec'<-e wa- tiken to the U. S. Supreme Court.
The U. S. Ci'cuic Cou't Judge in Texas granted an order allowing the receiver to issue certificates and an appeal was
taken fiom that order, The Judg-) held that such an order
not being a final one in the case was not appealable, but now
on argument before the U. S. Supreme Court at Washington,
by Mr. Herbert B. Turner, counsel for the Farmers' Loan &
Trust company, the Court has rendered the iaji^ortant decition
that an order permitting a receiver to issue certificates hivinf;
a prior lien to the mortgages is practically a final order, and
is therefore appeal ible to ttie U. S Supreme Court.
Texa=i & Pacific. lu Philadelphia the following approximate earnings for 1888 have beea published:
Gross earnings In 1983
$6,407,107
Expenses and laxes
5,066,330
—
Nft earnings
Present auunal (Ixed charges
The above are fixed charges for
.$1,340,757
$1,287|000
a
full year,
but in 188S the
company paid only the December coupons on the new first
mortgage bon^s, and therefore had fixed charges about $525,000 less than the above amount.
The Financial Reriew for 1880.—This annual book, issued
office of the Commercial and Financial Chronicle, will be ready ab.mt February 8.
The Review this year
from the
is a volume of over 250 pages, and is far ahead of any previous issue in its completeness. It will contain as an appendis
the Investors' Pui plement of January 26, bound in as a
most valuable addition to its usefulaess as a work for eonsfeant
reference. The price of the Review will be the same as heretofore, that is, $2 per copy to all except Chroniclh subscribers, and to them $1 50 per copy.
— The American Car and Equipment
;
State factory.
Coffee on the spot has been more active. There wasja fair
business in Rios and Santos and some large lines of Maracaibo, &c., changed bands, with a moderate trading in Java.
To-day, however, business was slow, but fair cargo Rio cloael
The speculation in Rio options gained strength oa
at 17,^3 \
reporied small receipts at Rio, but to-d^y the market was dull
and drooping, closing with sellers as follows:
Fehruary
1.5-70o. Juno
15-70o. October
I6OO0.
March
15-70o. July
1.5-80o.
November
16-05o
April
August
1.5-65C.
15-8.ic. December ....lC-05o.
15-65C. September
May
15-95c.
an advance of 25 points for the week.
Raw sugars were quiet throughout the week, with prices
favoring buy.rs, though showing no material decline and
closing somewhat nominal at 4 11- 16c. for fair refining Cuba
and 5 9 16c. for centrifugal, 98 degrees test. Molasses has
been quieter and barely steady; quoted at the close 20®20Vic.
for new crop Cuba, 50 degrees test, with two cargoes Febrmry
shipment sold today at 20i^c. The tea sale on Wednesday
went off at pretty full prices.
Kentucky tobacco has been fairly active during the past
month, especially 30 for leaf. Sales were 1,600 hhds., of which
1,300 bhds. were for export, quoted 2^®5c. for lugs and 5@
13o. for leaf. Seed leaf le»s active sales 1 ,000 cases for the week,
as follows: 150 cases 1887 crop. New EngUnd Havana, 13V@
38c; 400 cases 1887 crop, Wisconsin Havana. 9}^® He; 100
cases 1887 crop, Pennsylvania Havana, 14®25o.; 150 cases
1887 crop, Pennsylvania seed. 9^@lli<c.; 100 cases 1886 crop,
Penn. seed, 8i-^@13c and 100 cases 18S7 crop, State Havana,
12® 15c.; also, 500 bales Havana, 70c.@|l 10, and 200 balea
Sumatra, $1 20® $>.
Oil the Metal Exchange thf re has been rather more doiny.
Straits tin has besn variable, closing to day strong and fairly
active, selling for May at 22 15c. and quoted at 21-90c. on the
Ingot copp»r was also strong, bat closed dull ; G. M. B.
spot.
sold at 16c. for March nnd 15-50c. for May, with lake quoted
at 17c, for February.
L^ad hss declined, selling to-day to a
moderate extent at 3'77J^c. for February. Domestic spelter
is dull at 5c.
At the interior iron markets extremely low and
irregular prices are made for manufactured stock in order to
I
I
|
I
I
I
I
|
—
;
,
Company of this city
of this year, has opened offices
»t No. 10 Wall Street. Mr. J. D. Mitchell, formerly VicePrefident and Treasurrr of the New York Equipment Co. ig
pany starta with a cish capital of twenty- five thousand dollars
«nd we learn with strong backing bywell-kmwn firms in this
Pref-ident and Mr. J. N. Borland, Jr., Treasurer. The Com- effect sales.
Spirits turpentine advanced sharply yesterday on light
pany propcses to supply railroads throughout the United
States and Carada with 8eoond-hand passenger and freight stocks, well held, and is firmer to-day, closing at46''^c. asked.
Rosins were more active, but clos? quiet at |1 fl3i-^®$l 07*^
equipment for cash or credit on the car-trust plan.
for common'to good strained. Refined petroleum for exi ort
^p" For other railroad news see pages 149 and 150.
' is easier at 7c.
Hops are in fair demand, and steady,
whxh was
organized the
first
J
.
FKBRDABY
.
THE CHRONICLE.
2, 1880.
COTTON.
Friday. P. M.. Feb.
fromtlio South to-night, is given below. For tlie week ending
this evening the total receipts have reached lS5,35t bales,
against 1 77, S'Jl bales hist week, and 149,173 bales the previoue
week; making the total receipts since the Ist of Sept., 18S8,
4,474,367 bales, against 4,583,837 bales for the same period of
1887-8. showing a decrease since Sept. 1, 1888, of 109.260 bales.
JUeeipU at—
Hon.
Sat.
OalvMton
El Paso, &o ..
Orleans...
New
Uolille
Tu*f.
Wed.
Fri.
Tliure.
2.4S2
1,462
i.eeo
2,489
631
7,484
2,325
8,697 11,191
942
2,097
0,435
1,847
5,S00
1,676
715
Bavannab
3,231
Bnin8w'k,Jkc.
Charleaton
Port Roj-aI,4c
Wllmlii)^on
Wa8li'gton,&o
Norfolk
West Point...
N'wp'tN., 4o.
1,334
2,507
3,001
817
2,302
2,2C»
214
203
444
2,642
2,981
1,188
2,785
1,913
2,235
1,251
1,524
1,372
f
1,279
1,219
800
920
1.251
Boston
Baltimore
1,260
2,418
898
731
492
63
147
89
52
2,305
l.S16j
404
878
1,643
115
859| 12.689
1,404'
8,944
8,643 11,907
Balveston
Week.
...
ElPaso.&c.
New Orleans.
Mobile
Florida
Bavannab
...
Brun8.,&o..
Charieston ..
P.Royal,4o
Wilmington
.
Wa8li't'n,&c
Norfolk
West Point.
NwptN.,4o
ITewYork....
Boston
Baltimore ...
Phll'del'a,
4c
Totals
10,465 564,547
1,847
12,017
45,344 1,387,307
9,592
179,410
1,392
19,682
16,626 713,323
7,836
96,17?
7,973 330,695
878
12,9 2t
1,643
12,689
8,914
11,967
6,488
7,498
3,915
1,152
140,674
4,16S
419,898
317,461
80,08t
60,644
54,849
48,110
32,36b
l.'S5.354
4.474,367
115
Comparison for
S-eetpli at —
six ::ea8ons
1889.
1888.
12,312
45,344
9,582
15,620
Thil
Week.
343'
34,493 1,404,740
5,036
188,071
367
22,044
14,347 785,035
2.519
54,106
7,567 367,849
459
12,015
2,300 161.765
64
4,576
6,470 407,106
7,832 336,547
890
88,216
2,816
49,378
1,674
56,830
22,527
3,107
1,510
20,891
9S,G68
is
4„'i?3.6-27
All others....
Tot tills week
155,351
98,668
...
Obarlest'n,4c
WUm'gt'n, Ac
Norfolk
Wt Point, Ac
49,349
35,721
375,473
43,789
370,142
38,756
73,779
75,259
47,626
39,257
7,447
13,939
48,241
46,632
17,391
233,654
12,500
16,445
13,600
7,008
256,500
20,000
17,970
21.028
939,294
942.712
497
1885.
1,278
13,265
14,417
17,305
11,481
50,879
6,289
14.715
7,654
2,380
14,376
4,692
9,952
7,583
37,353
7,139
10,504
7,318
1,194
7,391
3,670
7,627
130,753
122,418
89,785
1884.
11,301
36,499
5,678
10,315
7,233
1,561
12,864
4,123
21,902
111,481
Blnoe Sept. 1 4174.367 4583,627 4486,382 4235,664 4216,777 4092,797
The exports for the week ending this evening reach a total
of 96,834 bales, of which 50,.390 were to Great Britain, 10,D39
to France and 36,355 to the rest of the Continent,
Below are
the exports for the week, and since September 1, 1888.
Week Ending
Frb.
From
1.
Stpt. 1, ias8. to Feb.
Exported to—
MxporU
New
....
e,717
Orleans..
8,040
«,7I7
8.09-
Mobile
BaTannikh ....
Biunswick ....
Charleston...
Wilmington
New Yort
7,67«
8,W4
],82-2
8.175
...
9,»71
20«
Ptillsdelp'a'4i
4,16S
175,B»4 21.076
442,181 193,293
38,102
82,123 11.542
20,600
B.Sda
M,672 20,673
76,402
187,575
108,426
4,160
3,SS0
ll,<'2a
867
89,714
4,873
20.721
878,477
387
14,628
Totjl
8,874
S,200
IS
West Point ...
NwptNw8,4o.
Total I8K7-88
29,67«
..
Hortollt
BoStOK
Baltimore
12,988
»,«00
rotal 1889.
93,970
11,910
39,645
28,514
173,939
61,638
40,881
Total 1887
9ii,622
19,132
21,09J
19.0H3
16,318
140.734
177.930
lO.OSH
78.707
1.007
201:1
3.3;3
m.hoa
1,783
ll.PBl
7J.955
74-
749
24,0 !0
1,
18t9
Conti.
nent.
43..300
1
801,978
744.713
I
bad rtceded to within about 5 points of the lo vest flgures in
December. The movement of the crop continued gr'^atly in
excess of the corresponding week last year, though showing
some reduction from the large figures of the preceding week.
Liverpool and Manchester aho weakened. Oar bulls, under
confidence, and as prices gave
Oa Monincreased the offerings.
day, however, with May options down to 9'85o. the
buying became vigorous to cover contract?, and the bulls
operated to a moderate extent for the rise, and when this
influences,
"stop
lost
orders"
movement was supplemented by reduced receip's at Memphis
(on Tuesday) the close for th»t day was 6@ 7 points dearer
than the lowest figures of Monday. On Wednesday the bulls
were disappointed with Liverpool, and the market weakened
after a somewhat irregular opening, V ui partially recovered
at the close, on the smaller receipts at the interior towns. Yesterday Liverpool was reported unexpectedly strong, and there
was a quick advance wiih ui of 5® 7 points, followed by a
dull market; but there was renewed xclivity after the last
call, and the close was at about~tbe best prices of the day,
there being considerable buying to cover. To-day the market
opened easier, Liverpool having failed to maintain her advance, but some early indications of a small interior movement caused a quick rally; but as the demand fell off prices
again receded. Cotton on the spot was quiet and nominally
unchanged, but latterly less freely offered. To-day there was
a nominal advance of l-16c., middling uplands closing quiet
at 9 l")-16c.
The total sales for forward delivery for the week are 349,100
bales. For immediate delivery the total sales foot up this week
4,113 bales, including 732 for export, 3,380 for consumption,
bales
in transit. Of the above
for speculation and
were to arrive. The following are the official quotations for
each day of the past week Jan. 26 to Feb. 1.
—
—
—
UPLANDS.
—
Sat.
nion Tues 'Wed Tl>. Fri
I
Ordinary
Strict Ordinary
&ood Ordinary
....
Btrlot Good Ordinary.
6%
•Vlb.
8"l« 8 IS,,
GULF.
Sat.
6%
6i»,«
714
86,8
Zti«
85,B
813,«
8l4„
9%
9%
9=8
978
9°g
979
10 14
10 14
9%
8%
S's
97,«
91I,«
916,9
106,8
10»,g
raon Tnes IVed 111. Fri.
j
7
7
.9B>.
7ifl
l>
91,8
.
LowMlddUne
9=8
969
9%
Low Middling...
Middling
Good MIddUng
Strict Good Middling..
STAINED.
7
7116
7>9
8»,«
7>3
719
8»,«
l>
8%
8«ia
91,8
9=8
9»8
9>«
9m«
9''8
959
979
1018
1013
916,9
103,8
109,9
Il0»*i«
9"ig
10 >a
10i«
lOHi
10>9
lO^a
10 Si
10%
10%
10%
10%
llMs
111I6
111,8
lUls 11>6
Sat.
9
7
IOI9
lilt,,
Fair
7
10>8
101a
Middling Fair
Good Ordinary
Strict Good Ordinary
Low MIddUng
MIddUng ...I
6%
7>4
I
Fair
Strict
6%
959
9=8
979
9'8
IOI4
1014
10>9
lOJfl
lO^a
lo>a
10>fl
1013,8 lOlSj, 1013,8 10i»i« 101^,8 10 '8
li'ia ll'is ll'^ie ll'ie 117,8 illia
9»8
97r
IOI4
,
OoodJirddling
Strict Good Middling..
Middling Fair
Ordinary
Strict Ordinary
(Joud Ordinary
Strict Good Ordinary
9%
9%
..
MIddUng
6^1
7^4
SO,.
7^4
85,„
ll"ig ll'Ms 1111,8 ll"l«^ll%
non Tnea^W^ed
lb.
Til.
Fri.
6%
6"ic
7%
738
96,8
96]9
64.527
291,236
179,S02
21,380
MABKET AND
Ibtal.
261.197
928.713
82.163
278,356
Vc
16-8
1
36,090
159.795
1,840
800
8«,4$6
8,11:1
32,163
22,868
81,026
7,S'i8
SAXES OF SPOT AKD TRAMSlg.
SPOT MARKXT
0LO8UD.
11B,7'X)
Tlitu-.
Firm
106.241
Fri ..iFlrm
(i40.8423.124.i#5
I
port.
\
»
Spee-'Tran-,
tump. uVfn,
tit.
.
^'«'-
FOTPKBS.
„ .
*<"**•
!
691
454
506
143
441
732 3,380
4,112 349,100]
sii
iigadv..
i
Deli*
trie*.
1,306
dally deliveries ^Iveu above are aotaaUy
prevlODS to Uiat on wUou tbey a<-e reported.
Tbe
|
41,600
691 87,600
965 51,500
506 41,600
143 77,5001
441 49,300
1,145
Mon. Kasy
Tues. Ptciwly
8t<iiidy
925,831 3,023.120
Con-
Ex-
221
Sal.. Dull
Wed.
99,834 1,808,0631288,82(1
SALES.
The total sales and future deliveries each day duriog Um
week are indicated in the following statement. For the convenience of the reader we also add a column which shows at
glance how the market closed on same days.
47,.TJ2
179.078
99,087
218,601
115,734
89.714
57S.S62
107,8.33
aa.nii 102 sWS'l ltl0,iS0'27a,393
!)6,3»
763,35»
The speculation in cotton for future delivery at this market
was quite depressed early in the week, and on Monday prices
Total!
5O,!<80
310.932
36,789
29,026
e9.379
27,401
25,211
213,204
53,383
KxpoTtfA to—
Great
ContU] Total
Oreat
Brifn. France nent. Wult. Britain. France
OslTeaton
450
None.
None.
1,200
4.100
9,900
7,000
Total 1888
LowMlddUnR
Strict Low Middling
1886.
8,851
1,758
12,689
20,911
28,281
Bavanuah
1888.
as follows.
1887.
12,260
48,714
3.114
13,293
7,107
MobUe
1889.
......
7,217
34,493
5,036
14,347
8,026
2,364
6,470
8,722
11,993
Galveston....
New Orleans.
,
Slock.
601,331
7,217
None.
way
146
Since Sep.
1, 1887.
10,000
64.511
7.000
18,600
4,400
21,948
23,000
20,450
14.000
None.
300
115
Slock.
Total.
6.314
9,730
None.
12.000
7.560
None.
3,800
None.
None.
None.
Other poru
these
1887-S'3.
Since Sep.
1, 1888.
1,600
None.
11,933
New York
7,498
3,915
1,152
For companson we give the folio wing table showing the week
total receipts, the total since September 1, 1388, and the stoc
to-night, compared with last year.
1888-89.
7,0<)0
..
2,^00
11,000
4,000
0,4 58
I
Totals thla week 23,937 24,333! 24,757 20,103i 33,757, 28,467 155,354
ThU
40.937
. .
OoattOther
a.-^..
"^""»Foreign viie.
13,"i00
9,(100
853'
3.916
Seeeiptt to
Fib. 1.
Leavirta
Oreat
Britain.
Qalveston
Norfolk
1,299!
1,385]
314
102
247
PUladelplila,<)ko
Hew Orlean
Mobile
Charlostou .
not Utarefi—for
i
3,324
New York;
On BMpboard,
1,AT-
Feb.
Bavannab
10.405
......
1,847
6,037 45,341
1.827
9,582
l,24Cl
1,302
2.31i! 15,626
1,487!
7,836
94
7,973
1,927
6,349
1,100
201
Total.
1,769
146
Florida
In addition to above exports, our telegrams to-nightalso glv9
08 the following amounts of cotton on shipboard, not cleared,
add similar figures for New York,
at the porta named.
which are j rep.ared for our special use l>y Messrs, Carey, Yale
ft Lambert 24 Beavor Street.
We
1S89,
1,
as indicated by our teleRrarns
The Movement of thk Crop,
181
..,..
deUvered Uia dar
THE CHRONICLE.
162
THr. Sa-Les
.
:;
'
and Prices of Futures are shown by the follow
injf c(;inprehenaive table
___^
:
[Vol.
XLVm.
The Visible Supply of Cotton to-night, as made up by cable
is as follows.
The Continental stocks, as well as
those for Oreat Britain and the afloat are this week's returns
and consequently all the European figures are brought down
But to make the totals the complete
to Thursday evening.
flgures for to-night (Feb. 1), we add the item of exports from
the United States, including in it the exports of Friday only.
and telegraph,
1889.
1888.
1887.
bales
685,000
6,000
758.000
28,000
877,000
12,000
636,000
17,000
Total Great Britain stock.
Stock at Hamburg
691,000
2,800
14,000
22,000
786,000
4,500
43,300
23,000
889,000
2,700
21,900
30,000
653,000
4,300
36,600
29,000
8;ook at Liverpool
S'ock at London
StookatBremen
Stock at AmBterdam
Stock at Rotterdam
Stock at Antwerp
Siock at Havre
1886.
300
500
300
900
200
700
98,000
3,000
29,000
5,000
7,000
184,000
2,000
46,000
4,000
4,000
225,000
3,000
41,000
6,000
9,000
2,100
168,000
4,000
45,000
12,000
3,000
total Continental stocks
181,600
312,000
339,500
304,400
Total European stocks
India cotton afloat for Europe.
Amer. cott'n afloat for Eur'pe.
Bgypt,Brazil,&c.,afltforEVpe
Stock in United tttates ports.
Stock in U. S. iuterlor towae..
CTnlted States exports to-day.
872,000 1,098,000 1,228.500 957,400
146.000
80,000 147,000 104,000
391,000 460,000 619,000 418,000
52,000
41,000
31,000
31.000
939.294 942,712 922,643 1,063,680
338,739 343,525 3u2,128 436,«97
6,363
5,192
24,000
19,308
S ;ock at Marseilles
S .ook at Barcelona
Slock at Genoa
Siook at Trieste
;...
Total visible supply
400
2,745,996 2,970,429 3,274,271 3,030,085
Of the above, the totals of kmerloan and other descriptions are as f ollow s:
Ametuan-573,000
185,000
460,000
942,712
343,525
5,192
554,000
135,000
391,000
937,294
338.739
6,363
Liverpool stock
bales
Continental stocks
American afloat for Europe..
Oalted States stock
UoitedStates Interior stocks.
UaltedStatesexports to-day.
680,000 479,000
240,000 239,000
619.000 418,000
922,043 1,063,680
302,128 436,697
24,000
19,308
Total American..
... 2,364,396 2,509,429 2,787,771 2,655,685
Ea/l Indian, Brazil, <te.—
Liverpool stock
131,000 185,000 197,000 157,000
London stock
6,000
28,000
12,000
17,000
Uontlnputal stocks
46,600 127,000
99,500
65,400
In ila afloat for
Europe
146,000
52,000
Egypt, Brazil, &o., afloat
Total East India, <ko
Total American
80,000
41,000
147,000
31,000
104,000
31,000
381,600 461,000 486,500 374,400
2,364,396 2,509,429 2,787,771 2,655,685
Total visible snpply
2,745,996 2,970,429 3,274.271 3,030,085
4i6,6d.
5^(i.
Price Mid. Upl., Liverpool....
5»ad.
S'led.
9isc.
9i6i6C.
lOih^o.
Price Mid. Upl., New York...
93, go.
(®~ The imports
into Continental ports this
week have been
56,000 bales.
The above figures indicate a decrease in the cotton in sight
to-night of 334,433 bales as compared with the same date of
1888, a decrease of 538,275 bales as compared with the corresponding date of 1887 and a decrease of 384,034 bales as
compared with 1886.
At the Interior Towns the movement—that
is the receipts
the shipments for the week,
and the stocks to-night, and the same items for the corresponding period of 1887-88— is sat out in detail in the follow-
for the
ng
week, and since Sept.
1,
statem-^nt.
H
tEtdt-'t-'>T(W!ii!
Sh
fr'p-os2COs-?»8»P?r£.o»5.B
E: o:
3
MM
(Oyi
MO:MM MW
^'^ to U) o: (o 1^ €;> w K) M -qVi'ifcM'o CO Mc;i
O 0« OCOCOWW
10
-^ to *•
COOOiCn3JOSO;03W[OCiQnO^OS*JCDi(*.
CC|F^OO)OtOt0030COCC^^XiC;'>^^ia!M
I*-
toi;^.
!
M w c: M cp CO
C» O CD Oi
W
QO
O-tffcMi^OlMCOW-OOi
Wy««rf*_;-JCC*^MMin
I
(^
w> CD «i o: -J h- -^ to o'
"f* -•J
CO C: LO
CX)
to
:D<iyi o -r to to to oo
o QDC:tO CO (C r- to O
I— J. M O' CO M
CO
^JWWC-W-JCMfcO^
W
C/JOttOWCCDODMOXDI-
--1
tOM
"tf*.
H- **
fr-
CI CD
uiu'^Tooicn'
o oaOMCoto10
to ^o
O
}
Ck'
)f>^
)(-
I
I
1
'Inelndea sales In September, 1888, lor September, 165,300)
September-October, for October, 394,100; September-November, tor
November, 585,500; September-December, for December, 980,100.
Transferable Orders-Saturday, 9-60o.; Monday, 9-60o.;
TneBday,
»-65c.; Wednesday, 9 650.; Thnr8day,9-75c.; Friday,
9-70o.
i
*q
COMMWfcO
"cO
J
SffS
*•
3
^
00-qowO^»WMO:t^«
CO
CD
0«
c;i
M
CO
if^
a CO to CO iu o
OCOMCRtOLOOrfk,co^MMCDMiO<|^LOO)(^
cnoiCDaccc**^oioxOM(t!.-,ocojOf-cco
eccccoci3iOcoMCOOco(S*ooscoyi^oyi
'
^.w
»1
I
I
O"
COlfBtOOlMMtOM
pi
COWOMCOOOpl
{
to
M
to
20 pd. to eioh. 1,000 Mar. for May
Mar. fur June.
19 pd. to excb. 600 Feb. for April
t
*-
ODO WTOOOUI
OM
I
to »q 01 Ot to
I
M;fl-J*>.MCO»
eotocoMio
CO
•28 pd. to exch. 1 ,000
•10 pd. to exch. 400 Feb. for Meb
32 pd. to exch. 100 April for Ane
•50 iKl. to exch. 300 hob. for Au •08 pd. to exch. 100 Feb. for Mar""
•26iMl. to exch. 1,000 Apr. forjniv
•07 pd. to exch. 500 Feb. for Mar
ii
•10 pd. to exoh. 100 Mch. for Apr.
•35 pd. to exch. 500 Oct. for May
I
c0totOQCc;icDCOO
jO|00«t«5f-fc000*a
The following exchanges have been made during the week
11 pd. to excli. 200 Jlar. for April.
•80 pd. to txch. 2,000 Mar. lor Jime.
•83 pd. to cxcli. 800 Ai)r. for Aug.
Eren 500 Jbu. fir Fob.
•10 pa. to cxcU. 600 Jan. for Mar.
•20 pd. to cxfh. 100 Feb. for April.
"09 pd. to exch. 2,0(lii Feb for Mar.
•C9 pd. to excli. lOO Mcb. for Apr.
•09 i)d. to excli. 1 00 Apr. for May.
-18 pd. to exch. 100 Apr. for June.
•29 pd. to excli. 1,100 Mch. for June.
CO
00
O to f O M to M to
M<1
i-'h-'
M
M 03 0-® jO coco *w"^ tOtf* 01 cjW"co Oi ccMt-oocowboof
arf'-coDOutooiO'^; (XMOlCCytottin
<)rO0DMMMj
'zn
ocoww-qwVi
OlOOC:a!DOl
nUOr-WOCOM
ojaDc;ioootoooitooi>
X to O O
ooiaoaoccj-i
CD t-
rf*.
<io;ccxotO'
O
CO
O 02 -^ CO X
Ml
0<
If^
*
O
»F-
CT-
CC CO
.
to
to
p
tffc
CO
01
O-»(**MUt(OMrfkC0Q0-.J
M*.<l^»'ft-CPX
t**Mi^towooo;Mo;c;i'-'CJa;cD»-^to-»:^
cno:coy<cncocnMO(f^030«vcci>«xi'XiM
M
MOO
h-t^
"coco
Ifk'tOM'JhOi'Ubii-':
*.10
W
^1.*-''-'
;
<ICn-lQD^^tOOQOOO!
cn"ccb'1(»-cocnto
lt>^
*" U> Oi i^
^'i
'^
Ol^**QOMOODCC»JaOCD. rf-^ICOMOlX-tO
C«CD
WtO COtOpW^
OitOto'^I^M'^tf^.'lOi'
to>'Xtoco'y» — CO
^ODOOOOmCO^CO- MC0CJ00MO3MO
OOOat:;«tOMtn^Oi^; Mt0*»t*-C:OOO
The flmirM for LoulevvlUe in botU years are "net/
flguroa eatlmated.
M
Ul
I0«>-
pt0QO^®_»OO'p WWUDtOCOffiOlj-lCO^J^P
MCSIO**© Wrf^lDfP-^OX<C01C;<rfi*#'CV
t
ThU yeart
6
.
FEnnuART
3,
.
THE CHRONICXE
18S0.]
The »boT9 totals show that the old interior stocks have
deorjojieddurinK the week 25, 08<! bales and are to-niKht 1,788
balea trss than at the same p«'riod last year. The recoipts at
the same towns have been 7,817 bales more than tlio ssime
week lost year, and since September 1 the receipts at all the
towns arc 87,083 bales less than for the same time in 1887-88.
QnOTATIONS FOR MiDDLINO COTTON AT OTHBR MaUKETS.—
In the table below we give the closine quotations of niiddlins
cotton at Southern and other principiil cotton markets for eacE
day of the past week:
OLOSraO QUOTATIONS FOR UrDDLIMO COTTON
Week ending
ftb. 1.
aalur.
Galvoston
New Orleans
I»»i«
Molpile
O'i
BAvaiinah...
Cbarleaton..
WiluiiuKton.
Norfdlk .. ..
9H
a\
9lSie
. .
Boston
B-a
9i«
Hon.
Tuet.
913,9
9ht
y>3
9>4
9%
9H
9h
0'^
9\
ON—
FH.
Thuri.
9'3l0
9>«
Oin
91'l8
9>«
9"l«
913l«
9>3
9»a
9>4
9M
9H
94
S't
914
10
9!(|
Ohe
9',
9718
9"a
91a
919
99, fl
9»9
9^8
10»8
9=8
9=8
9=8
9'8
10»8
9=8
9=8
9=8
9=8
9%
9''ie
9»."
10»10i8 10®10>9 10® 10% 10»10l8 10®10»8 10aI0»e
BalUiuore...
O's
O'^a
Pbiladelpliia
lOIfl
Meniiihis....
et UiiUa....
10>e
9«9
9=8
9»8
9=8
9=8
9=8
9=8
9=8
9=8
Cincinnati..
Loul«vUle...
9%
9%
9^
9«8
9=8
9=8
Angustn
Wednet.
10
»'<>
ID'S
9=8
9=9
9=8
9?
9=8
—
Receipts from the Plantations.
The following table
Indicates the actual movement each week from the plantations.
The figures do not include overland receipts not
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 outports.
;
Week
Iteceiptt at tht Ports.
IsVkat Interior Towns. Rec^pts from PlanVns.
.Sliding—
1886-7.11887-8. 1888-9. 1886-7. 1887-8. 1888-9. 1886-7. 1887-8. 1888-9
TIT
236,618 18-<.834 210,042 443,663,u4?3,883 460,024 446,849 1 79,029 272,719
!lS».04l|l!i9.3O8!S02.924'433.2.'i3|461,8OI 448,880' 188,731 [l37,22» 191,560
'142.915! 145.741 159,119 3S9.745'437,202 436,568'l09,408 121,139 146 027
jl66,8-i4Jl05.103!;4(>,178S6«.42S'423.*-S2 407.09s'l82,587] 92.033 120,708
,132.531 90,lS0;i;7,821 851.361 398,012 389,843 117,464!
160,371
1
1
j
(
j
D«c.38..
;
Jan. 4
'•
11
"
•
18
25
Feb.
01.310J
130,753' 99,668 155.351 336,612 379,558 361,239 116,0041 80,212' 128,960
1
163
—
New Orleans, Louisiana. It has rained on four days of
the week, the rainfall reaching two incbeo and nine hundredths. Tho thermometer han averaged 51.
Shreveporl, LouiHana. Riinfall for the week flftr-seyen
hundredths of an inch. Average thermometer 46, highest 67,
lowest 25.
Columbus, Mississippi. It has rained on two days of the
week, the rainfall reaching ninety-seven hundredths of aa
inch. The thermometer has averaged 83, the highest being
55 and tho lowest 22.
Leland, Mississtppi.—R'iiiittill for the week one inch and
eleven hundredths.
The thermometer has averaged 42'4,
ranging from 26 to 00.
UreenviUe. Mississippi. Telegram not received.
Little Rock, Arkansas. Telegram not received.
Helena, Arkansas.— It has rained slowly on three days of
the week, the rainfall reaching one inch and sixteen huo>
dredths. Tkere has also been a little snow. The thermometer has ranged from 34 to 56, averaging 38. During the month
of January the rainfall reached five inches and sixty- six hundredths on ten days.
Memphis, Tennessee. Marketing makes good progress.
Rain has fallen on four days of the week to the extent of one
inch and seventy-one hundredths. Average thermometer 87,
highest 57 and lowest 21.
Nashville, Tennessee. There has been rain on four days of
the wf ek, the rainfall reaching one inch and four hundredths.
The thermometer has averaged 36, the highest being 51 and
the lowest 30.
Mobile, Alabama.
have had rain on five days of the
week, the rainfall reaching one inch and thirty-one hundredths. The thermometer has averaged 48, ranging from
31 to 65.
January rainfall five inches and seven hundredths.
Montgomery, Alabama,— B-BX-a has fallen on five days of
the week and there have been three frosts. The rainfall
—
—
—
—
—
—
— We
reached one inch and two hundredths. The thermometer has
ranged from 26 to 60, averaging 46. During the month of
January the rainfall reached six inches and seventy hundredths.
—
Setma, Alabama. We have had rain on three days of the
week, the rainfall reaching ninety-six hundredths of an inch.
Average thermometer 43, highest 55, lowest 27.
Auburn, Alabama, The week's rainfall has been one inch
and thirty-four hundredths. The thermometer has averaged
—
the highest b&ing 57 and the lowest 23.
It has been showery on one day of the
week, the rainfall reaching seventy hundredths of an inch.
Average thermometer 49, highest 64 and lowest 27.
Columbus, Georgia. We have had rain on three days of
the week, the rainfall reaching one inch and forty hundredths.
The thermomet=r has ranged from 25 to 54, averaging 39.
have had rain on five days, and
Savannah, Georgia.
the remainder of the week has been pleasant. The rainfall
reached one inch and thirty-three hundredths.
Average
lowest 28.
Amount op Cotton in Sioht Feb. 1.—In the table below thermometer 47, highest 67 andrain
three
had
on
days in the early
Augusta, Georgia,
we give the receipts from plantations in another form, and add
part o( the week, but the latter portion has been clear and
to them the net overland movement to Jan. 1, and also the
pleasant. The rainfall reached two inches and thirteen huntakings by Southern spinners to the same date, so as to give
dredths. The thermometer has averaged 43, the highest besubstantially the amount of cotton now in sight.
ing 64 and the lowest 24. Rainfall for the month of January
six inches and ninety-two hundredths.
1888-89. 1887-88. 1886-87. 1885-88.
have had rain on four
Charleston, South Carolina.
Receipts at the ports to Feb. 1., 4,474,367 4,583,627 4,486,382 4,235,664 days of the week, the rainfall reaching one inch and twentyInterior stocks on Feb. 1 In
two hundredths. Average thermometer 48, highest 63 and
excess of September 1
345,864 355,726 288,5521 453,163
lowest 29.
Tot. receipts from plantat'ns 4,820,331 4,939,353 4.774,934 4,688,827
Stateburg, South Carolina. Rain has fallen on three days
Net overland to Jan. 1
563,833 710,712 513,742 525,092 of the week, to the extent of two inches and twenty-six hunBonthem consumpt'n to Jan, 1 225,000 205,000 150,000 131,000
dredths. There was a trace of snow on Monday. Average
Totalln sight Feb. 1
5,609,064 5,855,065 5,438,676 5,344,919 thermometer 45, highest 63. lowest 26.
Wilson, North Carolina. Telegram not received.
Vorthem spinners' takings to
The following statement we have also received by telegraph,
Feb. 1
11,218,427 1.296.467 1,095,149 1.157,698
showing the height of the rivers at the points named at 3
It will be seen by the above that the decrease in amount in sight to- c'clook Jan. 31, 1889, and Feb. 2, 1888.
night, as compared with last year. Is 246.001 bales, the Increase at
compared with 1836-7 Is 170,388 bales and the Increase over 1885-6
Jan. 31, '89. Feb. 2,'88.
—
The above statement shows 1. That the total receipts from
the plantations since September 1,1888, are 4,820,231 bales;
In 1887-t8 were 4,939,353 bales; in 1886-87 were 4,774,931 bales.
2.
That, although the receipts at the outports the past week
were 155, 3i4 bales, the actual movement from plantations was
only 126,950 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the same week were 80,213 bales and for 1887 they were
116,004 bales.
43'8,
Madison, Morida.
—
—
—
—We
—We
1
I
—We
I
I
—
—
Is
264.145 bales.
Feet.
Weather Reports by Telegraph. -^Telegraphic
reports
to us to-night from the South indicate that, while rain has
fallen in almost all localities, the precipitation has at many
points been light. There sterna to be, therefore, no hindrance
now to a free marketing of the crop.
Galveston, Texas.— It has rained on two days of the week,
the rainfall reaching one inch and forty-five hundredths.
Average thermometer 47, highest 63 and lowest 33. During
the month of January the rainfall reached seven inches and
fifty-seven hundredths.
Palestine, Texas,— We have had rain on one day of the
week, the rainfall reaching twenty-eight hundredths of an
inch.
The thermometer has averaged
44, the highest
60 and the lowett 28. Rainfall for the
four inches and ninety-three hundredths.
Ban Antonio, Texas,—There has been
month
being
of January
rain on one day of
hundredths of an inch.
The thermometer has ranged from 30 to 60, averaging 45.
During the month of January the rainfall reached four inches
and sixty-seven hundredths.
the
week
to the extent of forty-four
8
Memphis
Nash VI Ue
Above low-water mark.
Abo ve lo w- water mark
Above low-water mark.
Above low- water mark.
Bhreveport
Vlctoburg
India C!otton
Ineh.
5
20
24
31
33
•
Feet.
8
2
5
6
5
Jim*.
8
14
9
19
9
'24,
1
Movement from all Ports.—The
receipta
and shipments of cotton at Bombay have been as follows for
the
weeK and
year, bringing the figures
BOKBAT RBCEIFTS
SMpmentt
tiiit
Tear Oreat OontiBrit'n.
nent.
week.
AITD
down to Jan.
31,
gmPHENTS FOB FOOS TBAB8.
Bhipmenlt Since Jan.
Oreat
TotaL Sriiain
Oontinent.
1889 21,000 34,000 55,000 39.000 99.000
1888 6,> 00,13,000 lil.Oi
18,000 61,000
1887 1. 000 16,000 17,000 I'^.OOO 82,000
1886 7,000|29,00O 30,000 17,000 71,000
1.
Total.
138.000
79,000
100,000
88,000
Receipt:
Tkit
Week.
76,000
44,000
43,000
38,000
Since
Jan.
1.
263.000
153.000
209,000
178.000
According tc the foregoing, Bombay appears to show an
increase compared with last year in the week's receipta of
32,000 bales, and an increase in shipments of 36,000 bales, and
the shipments since Jan. 1 show an increase of 59,000 bales.
The movement at Calcutta, Madras and other India ports for
the last reported week and since the Ist of January, for two
"Other ports" cover Ceylon,
years, has been as follows.
Tuticorin, Kurrachee and Coconada.
.
ry
a
.
:
THE CHROXICLR
164
8hipme7ilt
ahvprmentt for the week.
Oontinent.
ehreat
Britain.
Caloatta—
1889
1888
4.000
1,000
1889
1888
17.000
13,000
2,000
2,000
1,000
3,000
2,000
4.000
3.000
1.000
4,0C0
7,000
7,000
3,000
4,000
10,000
11,000
6,C00
4,000
2.000
1,000
8,000
5,000
16.000
18,000
14,000
8,000
30,000
26,000
4,''
00
Total all—
IXFOST8 TO BCTBOPS FSOM ALL INDIA.
t»aU Europe
ThU
from—
Bombay
All other porta.
Total
1887.
1888.
1889.
BKifymeni$
ThU
TKi*
week.
Since
week.
55,000
8,000
13S.000
30,000
19,000
5,000
79,000
26,000
17,000
6,000
100.000
27,000
63.000
168.000
24,000
105.000
23.000
127.000
1.
Jan.
Co.'s report,
liaa been interrupted tliis week by holidays, and the transactions viut throii,sli amount to a small tigiire only. The receipts of cotton
into Bombay tills week are almost exactly the same as last week, but
we may now expect to see a steady increase week by week. Receipts at
the up-country mirk-^ts show a steady increase, thou'.'h the recent fall
in prices teuds to keep back supplies somewhit. Our reports from
the Dharwar, Western, and other cotton growUig districts continue
favorab'e.
JuTa Butts, Bioaisa, &c.— But little change is to be
noted in the position of bagging, and only a light trade is reporteiJ.
Buyers are taking such lots as they need, and are
ailing their orders at Yi^QO'^c., as to quality. There is more
inquiry for jute butts, but prices are above buyers' views and
trade is restricted. For paper grades quotations are 2}^®
2 3 16c., while bagging qualiiies are held at 2'4@2J8C.
Shipping
week.
Jan.
&
:
News.—The
exports of cotton from the United
States the past week, as per latest
126,394 bales.
Since
Since
Jan. 1.
1
GaJdum. Bythell
XLVII
Business
10,000
4,00J
All others—
1889
1888
East India Crop.— Mefsr?.
dated Bombay, Dec. 23, saya
7,000
9,000
Madras—
1889
1888
1.
Total.
Total.
2,000
2,000
1,000
Jarluary
titice
[Vol.
I.
mail returns, have reached
Total btitei.
per steamers City of Chicago. 1,361
Holbein. 2,869.... Italy, 1,908. ...Republic, 1,340....
Servia, 3,223
10,704
To Hull, per steamer Santiago, 2,556
2,556
To London, per steamers France, 860. .Persian Monarch, 700 1,360
To Glasgow, per t-teamer State of Indiana, B
6
To Havre, perateamer La Champagne, 1,822
1,822
To Hamburg, per steamers AmaUi, 730
Bohemia, 257....
Rhactia, 311
1,298
To Rotterdam, per steamer Amsterdam, 30t
304
To Antwerp, per steamers PielerdeConinck, 1,185
Waesland, 1,242
2,427
Nbw Yokk—To Liverpool,
...
.
—
AiiEXANDEiA Rkckipts AND SHIPMENTS. Through arrangements we have made with Messrs. Bavies, Benachi & Co., of
Liyerpool 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 and foi
the corresponding week of the previous two years.
To Christiana, per steamer Hekla, 113
To Genoa, per steamer luizlaiiva, 131
1888-89.
1887-88.
1886-87.
Beoelpta (oantars*)This week
Since Sept. 1
85.000
2,308,000
85.000
2,605,000
2,.'i47,000
Liverpool, per steamers Bellenden, 7,235
....Cuban, 2,170.... Felerico, 5.143.. ..Gallego. 5,602....
Inventor, 4,994 ...Haytien. 4,462. ...Scholar, 3,S9;
33,518
To Bremen, per steamers British Prince, 5,646
City of
Lincoln, 8,300
13,946
80.000
This
Since
week. Sept. 1.
Thit
Since
week. Sept. 1.
Thi$
week.
12.000 177,000
2.000 86.000
4.000; 193,000
2,000 lOe.OOO
5,000 194,000
6,>.00 97,000
14,000 263,000
6,000,301,000 11,000 291,000
Since
1
Sept.
1.
Exports Cbales)-
To Liverpool
To Coutiueut
...
Total Europe
*
A oantar is 98 pounds.
To Hamburg, per steamer Kate, 585
To Genoa, per steamer Austerlitz, 4,213
To Salerno, per bark Orsula, 1.617
Savannah -To Barccloua, per steamer Azalea, 5,150
To Genoa, per bark Alma. 2,640
To Trieste, per steanur Coronilla, 3,880
585
Brunswick— To
Liverpool, per steamer Roohami'tou, 5,000
liAi.vESTOX-To Bremeu, p,'r steamer Queen, 4,525
To Vera Cruz, per steamer Whitney, 1,201
Wilmington -To Llver;ool, persteaiuer Dartinore, 5,100
Norfolk— fo Livertiool, per steamer Slcilia, 5,920
NEwrocT Nkws— To Liverpool, per
6,285
Boston— To Liverpool, per steamers Bavarian, 3,119
Roman,
,
—
Manchestkb Market. Our report received by cable to-niKht
from Manchester states that the market continues quiet for both
yarns and sheetiogs, and that the demand in each case is
We
give
the prices
tho;e for previous weeks of
parison
poor.
113
131
New Orleans—To
Alexandria, Egypt,
Jan. 30.
below, and leave
this and last year for comfor to-day
:
...Samaria, 269
Halifax, per stt-amer Worcester. 135
1,4'?1
To
To Yarmouth, per steamer Dominion. 63
BALTI.MORE— To Liverpool, per steamers Nessmore, 3,717
T.i Lindon, per steamers Glengoll. 450
Maine, 150
To Bremen. ptT stri'aiuer Main. 1 101
Philadeli'UI.i-To Liverpool, per steamer Lord Gough, 1,415..
4,243
1,647
5,150
2,640
3,880
5,000
4,525
1,201
5,100
5,920
6,285
4,902
135
63
3,717
611O
1,101
1,415
126,2j4
particulars of these shipments, arranged in our usual
(orni, are as follows
Total
1888-89.
8I4 lbs.
Shirtings.
32f Oop.
Iwitt.
d.
d.
1887-83.
Oolt'n
8H
Mid. 32» Oop.
Twitt.Vpidt
The
Mid.
Ibt.
Shirtings.
d.
r.
1
H
" 25 7i5ja»8' b6
Feb. llTiHaaSTjoe
1
'»7
1
®7
d.
d.
s.
as^g 6 O ©7
»J38 6
97
"
TiSjgasiie 6 Ola 87
" IS^ls^aS'iBO 1 »7
d.
d.
7% »83e
7% as^s
53a
8.
5
3
1
5%
I1-2
5^3
7i3„'a87,g5
S'-'is
7l3,B®81if 5
II3
1»2
l^a
5I3
713i8aaiie5
51-2
7iii638'ie.l5
d.
a.
5^
10<sa7 3
10ia*7 3
9
9
.^7
«7
®7
9
«i33'7
2
2
2
511,8
5=8
508
558
New York.
.
33.518
Ha
59,
Brunswick.
5,000
:.
QusMtUies of Manufactures of
and uncoiored)
exvorted to
Cot-
Mexico
**
Central American States and
British Honduraa
West indies
Arfcentine Kepublic
Brail!
United States of Colombia ...
SI. \!tnog. ending Dec. 31.
1887.
Oreat Britain and Ireland
7arda
Other countries in Europe.... *'
"
Britiai] North America
•*
Other countries in S.America
China
Other countries in Asia and
Oceanica
Africa
"
'*
••
"
"
"
"
"
"
Other countries
Totnl yards of abore..
Total values of above.
Value per yard
Vaiuet of other Manufactures of
Cotton exported to
Great Britain and Ireland
—
Germany
France
Other countries In Europe
British North America
Mexico
Central American Slates 4 British
Uondura<>
West
Month ending Dec.
—
Indies
United Htt.t.»8 of Colombia
Other countries in 80. America
Asia arid Oceanica
Afr'ca
Other oountrles
1888.
1.(139.028
84,53
85.407
8iiU,900
e04.:«6
lOT.ilBl
11 .651
1,821,284
58
1.020
Oo5,0-i8
l.BM.lUi.
883.455
5h2.-30
923.9i;3
470,.143
1887.
7,975.063
9,819,077
2.--69.1S0
.H.474,3;«
99M.B03
1.413.500
16,720,838
12,444,21/6
7.420.433
11.853.999
3.301,518
7.2i'3.4(!5
'i.740.31,
8
a„.^
U,47U718
S74.1>6tl
514.885
4,013.790
.212.75i
8.004,288
2.305,21)4
18.838.J119
80,838,4^(1
1,000.000
0,137,048
31.011,805
61,830,115
651,308
590,477
10,920,174
76,»03
3.440.839
789,44 i
7.l:8,59S
0.0-7.353
4,15i,837
11^168.830
1
.379
17.574.432 132.509.219 189.154.789
I»l'.:.7b6
«i. 183.632
10783
('06(i2
t
9.037.837
t9,28U.451 1 12.29 r. lib
$0700
21.084
1,255
$
30.712
3,408
5-35
55B
603
2?.23e
3.115
18.848
9.436
481.644
20.9315,201
27.083
S52,2n«
179,241
8.857
8.824
B.OOs
9.89;
24.383
58.543
97.23S
81.381
98,Sz9
287.768
610
2.1*
11.22'
21
l,V.l,2
42.8„7
U,9T0
3,0ttU
8.385
4.M1
ia.81»
20,529
»-0«fiO
I
410.C46
28,8! 8
2.460
20,2iU
4I1M21
135,442
06,642
79.833
105,44K
73.8; 7
288.423
4.245
88,442
Total viilae of other manufac-
tures of
Aggregate value of all cotton goodn
111,96
B54.7,;
120,18'J
1.28
U2
pool.
10.7 4
.
N. Orleans
don.
3, '122
BamBarre.
1.822
burg.
1.298
14,531
Sal-
Ant- erno
we>p, and
<tr.
2,811
Savannah
Trieste.
5,100
5.920
N'wp't Nws 6,285
4.902
Boston
Baltimore.. 3.717
PhU'delph'a 1,415
fax,
Yar-
mouth
and
Y.Oruz.
131
5,890
11,670
4,525
Galveston
Hali-
1,201
Wiliriiugt'n.
Norfolk..
..
193
600
76,5614.522 1.922 21.455 2,34117,691
Total
Total.
20,721
53,939
11,670
6,000
5,720
5,100
5,920
0,285
5,100
5.418
1,415
1,399 126.294
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing our data down to
the
latest?
dates
:
Galveston- For Liverpool— Jan. 29— Steamer Pedro. 2.717.
New oble.ans—For Liverpool -Jan, 25-8teamer Emiliauo,
Jan. 30- Steamer Buenaventura,
Fir Havre-Jan. 25 — Steamer Nantes, 8,014.
For Bremen— Jan. 2fl— Steamer Ayrshire.
For Antwerp— Jan. 2.i— Steamer Nautes. 200.
1,572....
.
.
For Barcelona— Jan. 29— Steamer Ileruau Cortez.
For Vera Cruz— Jan. 25— Steamer Joseph Oterl. Jr., 1,013.
Savannah— For Genoa-Jan. 29 -Steamer Royal Welsh, 3,399.
Jan.
Charleston— For Liverpool- Jan. 29— Bark Capenhurot, 700
30— Bark Konoun,
Norfolk— For Hremeu- Jan. 30— Steamer Morven, 4,150.
West Podjt- For Uremen-Jan. 25-8teamer Eagle, 3,350.
Newport News— For Li\ erpoiil-Jan. 27— Steamer Canopus,
Jan. 28—
Boston— For Liverpool- Jan. 25— Steamer Catalonia,
-.
Steamer C'Cihalouia,
For Halifax— Jan. 20— Steamer Worcester, 158.
For Yarmouth- Jan. 29-Steamer D minion, 50.
Baltiuobk— For Liverpool— Jan. 23 -Steamer Thanemore, 3.599
Jan. 26-Steamer Oranmore, 3,602
Jan. 29— Steamer Peruvian,
.
lf-,g
2.318.5(14
4
and
ITuU (&
LonLiver-
d.
d.
Domestic Exports op Cotton Mandpactdres,— Through
the courtesy of Mr. W. F. Switzler, Chief of the Bureau of
StatisiicB, we have received this week a statement showing the
exports of domestic cotton manufactures for Decemb- r, and
for the twelve months since January 1, 1888, with like figures
for the corresponding periods of the previous year, and give
them below
(cot(ir€(i
Genoa,
Brem. R'llam,
Deo.23 778
Jao. 477s
ton
B'lona,
lipids
1.728,672
1,70B.:06
ll.009.123l 13.897.841
.
.
For Havre - Jon 2^ - Steamer Glendower, 200.
For Bremen— Jan. 29 — Steamer Netkar,
For Rotterdam- Jan. 21 -Steamer Lero, 380.
Philadblpuia— For Antwerp-Jan. 29 -Steamer Switzerland,
Below we give all news received to date of disasters to vessels carrying cotton from United States ports, &c.
ALu.iXY, steamer (Br.) -Revenue cutter Colfax arrived at Southport,
N. C, reported that steamer Albany, from New Orleans to Liverpool with cotton and corn, went asliore at 6:20 A. M. Jan, 25, in
three fathoms of water, ell' Little River, N. C. She luul thrown
overboard 300 bales of cotton before Ilie Colfax reached her, Tlie
captain of tlie Alb.'iuy was drowned. After,iettisoning 1,000 bales
of cotton, the steamer was pulled oil' on the 2tith by revenue cutter
and tugs. The Albauy pioeeeiled under her own steam Jan. 27th,
having sutl'ered no material injury, and arrived at i«ui'folk 29tli.
.
.
Much
of the cotton will be reooveicd.
:
..
Frbbcaby
THi: CHRONICLE.
2, 1888.]
Mon.
tatHT.
Do
Bull
U
\
e.
Bremen, steam
>a
• ->•
^
'3
•
»•
....
>a
"a
V
S2V
H
DovlaLonduii.d.
Amst'd'm, steam. e.
Do via Loudon.d.
52
V
52»«*
V
52
52
52
V
d.
sail
Baroelonu.steam d.
Genoa, steam .. .d.
"18
'is
%
»8
3«
»18
»18
^18
38
88
>4
>4
Trieste, steam... d.
Antwerp, steam d.
* Per 100 lbs.
>4
Jan.l8.
Jarkll.
week
bales
Of which exporters took
Of which speculators took...
Bales American
AiCual exiiurt
)rwariIeo
Tital stock— Estimated
Of which American Bstlm'd
X>tal Import of the week......
—
Of which American
mount afloat
Of which American
/on. 25,
8H,000
2,000
6,000
67,000
11,000
105,000
714,000
533,000
120.000
93,000
184,000
156.000
73,000
4,000
4,000
67,000
15,000
84,000
710,000
590,000
148,000
125,000
203,000
185,000
Fd>. 1.
65,000
2.000
4,000
54,000
7,000
97,000
706,000
586,000
96,000
89,000
171,000
135.000
49,000
•2,000
2,000
42,000
12,000
84,000
(;S5,000
554,000
78,000
50.000
207,000
15(1,000
The tone of the Liverpool market for spots and futures each
day of the week ending Feb. 1 and the daily closing prices
of spot cotton, have been as follows
Saturday Monday. Tuesday,
Bpot.
Market, I
t2:30r.u.^
Firmer,
Mld.Dpl'ds.
51a
Sales
Bpeo. ii exp.
8,000
1,000
Market,
4 P.M.
Easier.
In buyers'
favor.
Qnlet.
10,000
1,000
Sas; at
04 dec.
1
:
Wedna. Thurtd'y.
Very
Barely
ateady.
aleady.
7,000
1,000
Steady at
1-W dec.
Freely
Qnlet and
Very
offered.
stead}.
steady.
5I2
51a
51a
10,000
1,000
10,000
1,000
Steady
Steady.
Steady.
Firm.
Friday.
8,000
500
ar
partially
1-at ady.
Quiet and
steady.
Steady at
1-64
adyance.
Sat., J nn. tie.
....
Jsn.-Feb.
..
Lov. OlM.
fflon., J
an, 3S.
Open Blffh Low,
Tnes., Jan.
Open
H<«lt
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
5 31
9 31
5 30
5 20
5 31
531
5 30
5 20
6 28
6 27
6 31
5 30
6 31
5 30
5 20
5 20
6 29
6 28
6 27
6 30
520
6 20
6 28
5 27
6 27
6 27
628 680 5S8
628 520 5 2S
530
5 27
5 27
5 27
6 26
6 27
9 27
B27 523 527 627
5 28 6i9 528 6 28
5 20 6 30 6 29 620
527 623 6 27 6 27
8 27
5 28
5 30
5 23
539
reb. -March
3 20
Mar.-Aprll
April-May..
aiay-June..
Jane-July..
Jnly-AuK...
Aag.-Sept..
6 28
5 28
May on
and 97%c. for Chicago. But while June opwere 96Jg here, they were only QZ^£c. in Chicago, hinting at a possible "corner "at the West. There was to-day
some milling business in spot wheat at about ^i%c. for No. 2
520
5i8
6 2(1 529
530 5i0
531 5 31
5 SO 5:0
5 29
5 25
B28 528
529 5^9
530 5 30
531 5 31
S29 5 20
6 23
6 28
6 27
5 27
red winter afloat.
DAn.T OLOSntO PEICES OF KO. 2 RED WINTEB WHEAT.
Wed, Thurt,
Tuet.
JO*
Hon,
Sat.
94 13
9314
94
93^8
9519
96%
Febmary delivery
95I0
96'4
94%
9433
95%
o. 9738
March delivery
98I4
97 14
9758
96'»
98%
o.l 00
Maydellvery
J4
98
97-'8
9678
97
98%
o.l 0014
14
Jane delivery
94 18
9414
95
9518
93%
c. 97
July delivery
93'78
94
9513
9438
93%
c. 9673
'g
December delivery
Indian corn has scarcely varied. Buyers seem to have withdrawn to a considerable extent, hoping to depress values, or
because they could not go on except at better prices. However
The market tothis may be, changes in values were slight.
day is stronger and more active, shippers taking 112,000 bushels, mostly at 41 Jj^® 43c. for steamer No. 2 in elevator and
afloat.
OP NO. 2 MIXED CORS.
Tuet.
Mon.
Wed. Thurt,
Frt.
44
43''8
44
44
.0. 43%
43''e
Febniary delivery
45
44%
44%
45
44%
o.
44%
March delivery
45i8
45i8
45ie
45
0. 45i8
45
April delivery
45
45
45
45
45
0. 4519
Maydellvery
Oats have varied but little, closing to-day rather firmer,
with a good trade demand and a moderate speculation, especially for the better mixed grades.
DAILT CLOSINQ PRICES OF NO. 2 MIXED OATS.
Wed, Thurt,
Sat,
Mon,
Tuet,
3178
Si's
31%
31%
31%
0. 31%
February deUvery
32i8
32 19
3i
32
Sti's
32
c.
Mdvch delivery
DAII.T OLOBIMO PRICES
Clot.
Open Hith Low,
5 2S
5 28
6 29
630
6 31
5 20
MaydeUvery
5 37
5 27
6 27
6 28
5 30
6 2S
d.
6 29
5 28
528
6 20
6 SO
5 31
5.!9
c.
S^'
Open'Erifk Low, Clot, Open High Low,] Clot
d.
d.
d.
d.
9 31) 6 31 630 6 30
Vebrnary
V*lK- March 6 30 6 30 629 5 30
|Iar.-Apill. 6 20 629 529 629
April-May.. 629 5 20 .128 6 29
MtLj-ltine,, 6 30 5 30 529 6 29
inna-lalj.. 6 31 6 81 830 530
Jnly-AnK... 6 32
Anir.-3ept.
6.32
6.31
5 31
930 630 629 6 30
d.
6 33
6 32
6 32
6 31
6 32
6 33
8 31
6 3i
6 34
5 33
5 32
838
5 32
8 33
8 34
632
Opm\Bigh Low.
d.
d.
5 83
6 33
8 32
6 31
6 34
533 531
633
532
5 32
5 32
6 32
6 32
631
8.32
633 6 33
6 34
8 32
6 34
6 32
September.
I
FrI., Feb. 1.
d.
6 32
6 83
6 83
d.
8 33
6 32
6 32
9 82
633
5 34
631 6 33
831 6 32
Otot
d.
5 33! 6 34
6.32
5 33
8 32
5 3i
6 31 5.12
5 33
6 31
6 32 6 33
5 33 5 34
5 82
6 81
631 5 32
BREADSTUFF S.
II
I
FamAY,
P. M., Fob. 1, 1889.
The market for flour and meal, so far as nominal quotations
go, has hardly changed a figure during the week under
review; the demand was moderate from local dealers and
from the West Indies, and buyers paid steady pricea for such
parcels as they needed. But business was hardly sutBcient to
meet the needs of holders, and latterly, with the fresh decline
in wheat, there is more disposition to press sales and to make
3238
32Sg
3213
32ifl
FH.
3I14
34-'8
3413
34'<i
o. 3438
February delivery
3114
34=8
34% 34I3
0.
sin
March delivery
347a
Barlev has materially declined, leading to rather more business. Rye and buckwheat flour are dull but prices are about
steady.
The following are the closing quotations:
fine
V bbl. $2
2
Saperflne
Spring wheat extras. 3
stra't.
4
Minn, clear and
Winter shlnp'K extras. 3
and XXX. 4
Winter
5
Patent*
3
Boathem supers
Boath'n oobi. extras.. 3
XX
Waeat—
White
Com— Weafn mixed.
Steamer No. 2
Western yellow....
Western white
Southern white
FLOITB
85 Southern bakers' and
45
family brands
$4
75 Bye flour, supertlne.. 2
75
Fine
2
85 Com meal
50
Western, .bo
2
Brandywtae
85
„ 3
45 Buckwheat flour, per
4 00
100 lbs
2
GRAIN.
25a$2
653 3
303 3
30a 5
403 3
003 5
503
003 3
503
aye
Western
c.
c.
Spring, per bush...
1
Bprlng No. 2
Red wiuterNo.2...
Bed winter
WesfumlxedNo.2.
Wednea., Jan. 30. Thnra., Jan. 31.
32%
32%
DAILY CLOSING PRICES OF NO. 2 WHITE OATS.
Mon,
Tuea.
Wed. Thurt.
Sat.
Steady,
The opening, highest, lowest and closing prices of futures at
LiverpcJol for each day are given below. Prices are on the
basis of Uplands, Low Middling clause, unless otherwise stated
f^" The pricei are given in pence and 64tA( thut: 5 63 meant
• 63 64d., and 6 01 meant 6 l-64d.
January
for
Sat,
51-j
51a
Futuret.
Market,
12:30 F.M.
Those who have bought
reduced.
considerably
the idea that anything under a dollar a
bushel is a safe price were, therefore, easily "knocked
out" when assailed by the bears after the buying bad
been done. To-day a steadier opening was followed by r&.
newed depression. No. 2 red winter, for May delivery, closing
been
tions
—
F
whole of the past week, presenting frequently
at OejgC. here,
LiVKKPOOL. By cable from Liverpool we have the following statement of the week's sales, atocks, &c. at that port.
Bales ol the
weeks.
the extraordinary spectacle of prices lower in this market for
May options than at Chicago, although we are fully ten cents
a bushel nearer the foreign markets. Tbij is due to the fact
stock which diminishes but
that we have a large
slowly, while at the West tho visible supply has latterly
*S2®'l6 933®ISia «32®0,8
Beval, 8t«itm ....d.
Do
>a
>>
many
The market to-day was dull and weak.
The wheat market has been in a feverish and abnormal condition for the
>4
•
>s
e.
.
Do
via Lelthd.
Hamburg, steam.t.
JH.
Wtdntt. TAurt.
Tut*.
iis«.
166
oonoesdona in yalaes than has been seen in
Ootton f retKhts the past week have been aa follows
UTerpool, steam d.
DovlaOl'sg'w.d.
e.
Havre, atouiu
—
,
90
3125
03 31 05
93 9 95
87 3103
90 3103
37ia3 45
43 H 3 45
41%a 43
40 » 45
40 3 45
3
753
00»
bn.
Oat»— Mixed
White
No. 2 mixed
No. 2 white
Barley-C'nada No.l
Canada No. 2
Two-rowed Btate..
Bix-rowedState....
Buckwheat
3 00
....
003 2 15
0.
»
8tate<fcJer8cy
—
253 5 00
903 3 15
503 2 73
a.
56
58
58 3 60
30 3 331a
31 « 38
32 3 33
34is» 36
82 « 84
76 3 80
74
76
57
3
3
3
77
IS
The movement of breadstuffs to market is indicated in the
statement below, prepared by us from tbe figures of the New
York Produce Exchange. We first give the receipts at Western lake and river ports, arranged so as to present the compatattve
a»e««i>t»:
movement
ot-
Flour,
for tho
Wheat.
week endinK Jan.
Corn.
BM<.19tUIu Bluh.eo Ibtl Bwh.86 V»
638,834
132.828
63.202
OtalosKO
jM.eoo
73.159
»8,«29
MUwaokee..
67,413
8,532
Onlnth
318.080
tftnneapolla.
18.«S8
2,318
69.482
Toledo
48,899
24.410
8,137
Ortrolt
42.000
4.808
5,680
Oleraland. ..
2S,4e«
16,303
810.360
3t Louis
21,000
1,000
204,400
Pwita
Totwk. 'W.
Jamewt.'SS.
9aDe«k.>87.
Macs Avt. 1.
iai»-9
123.03*
212.451
248,251
1887-«l
6.273.531
0.340,nua
1888-7
5.605.T00
739,132
»18.372
0at<.
26, 18t9.
Barl«t.
468,175
45,000
394.140
130,430
818.217
1,403.887
1,228,935
I6>
19,6e«
7,iB80
97
l,25i
10.522
12.310
139,820
143,000
1,S51.8')5
10,0^9
20,8 le
1,901
89,000
18,800
2,730
14,200
819,965
888.T14
45,897
89.280
S8,S2S
1,78»,428
1,680.519
1,018,908
4723S1
68,307.209
74.066.025
03,802.208
8;l,351,06e
47,863.854
41.818,430
18,740,434
17,279.034
37,0111,548
16,922,90.;
48.677.9S6
4e.0«7jr77
i?VS
ButKS2nt Bush.48U» Bu. 68
8,842,615
I,i81.0»«
1,413.645
.
/
..
THE CHRONICLE.
166
The exports from the
ending Jan.
Mxportt
—
/FOTn
Hew York
26, 1889, are
several seaboard ports for the week
shown in the annexed statement:
meat.
Com.
Buth,
7,993
Buth.
512,515
80,126
16,625
Boston...
Portland.
Montreal.
Phlladel
Baltlm'ie
N.Orl'na.
K. News
Slohia'd
1,8-17
Flour.
Oats.
Rye.
Bhis.
Buah.
Buth.
59.310
29,130
Peat.
Buth.
4,616
7,292
......
2,500
..
24.505
9,697
Tot Wk.
time
1888. ..
.
857
113,431
877,165
226,790
28.426
......
4.700
2,000
712
44,042 1.826,632
125,135
7,292
7,116
405,942
189,166
1,973
2,686
8*1116
197,612
of grain, comprising the stocks in granaiy
at the principal points of accumulation at lake and aeaboai d
ports, and in transit by water, Jan. 26, 1889 :
The visible supply
in store
Wheat,
buth.
at —
Few York
Do afloat
8,908,750
141,900
1,000
3,163,087
Albany
Btiaalo
Do afloat
CSiloaco
4.514,350
916,623
1,228,371
1.835,271
812,228
MUwaukee
Dnlntli
Toledo
Detroit
Oavego*
Bt Louis
3,153.680
Olndimatl'
76,000
31,067
113,151
467,981
466,793
129,675
324,236
223.139
1,355,778
7,442,645
290,000
Boston
Toronto
Montreal
PhlladelpWa
Peoria
IndtanapoUs
Kansas City
Com,
Oatt,
buth.
buth.
3,637,877 1,767,024
58,100 176,200
43,100 112,500
252,902
29,921
28,000
2,206,584 3,383,400
12,728
26,7(0
41,404
7,167
277.289
56,926
56,833
7,333
65.000
3,060.724 552,349
4,000
13,000
430,061 663,422
3.000
38'993
28,087
453.538 185,955
26,242 442,405
19.000
68,854
159,082 247,485
2,200,936 115,384
2,200 158,726
[Vol.
valued at |638,253. Of this total South America has had 4,415
packages, covering a value of $274,898, and to China the shipments have been 3,399 packages, valued at |103,563. For the
similar period of 1883 the exports to all porta reached 16,72d
packages, valued at $962,527, China taking 7,998 packages, of
the value of $378,845, while South America had 2,505 packages,
valued at $171,481. The shipments for the corresponding
time in 1887 were 15,480 packages, and in 1886 reached 19,538
packages. As a whole the market for staple cotton goods was
quiet and the movement on account of former transactions
was only moderate, many outstanding orders having been
filled within the past few weeks.
Brown, bleached and colored cottons are fairly steady in price because of the limited
stocks on hand, but some popular makes of wide sheetings, as
Pepperell, Laconia and Androscoggin, were slightly reduced
by the mill agents. Print cloths were in active demand and
the market closed very strong on the basis of 4 l-16c. for
64x64 "spots" and "near futures," and 3^^c. for 56x80s. Stocks
last Saturday and for three previous years were as follows:
1889.
Barley,
Bye,
buth.
128,114
18,500
20,000
77,853
buth.
205,073
50,700
85,000
436,484
820,193
258,783
214,242
234,741
42,634
6,784
36,326
95,000
2,143
1,201
89,706
5,882
11,629
19,656
61,638
410,000
172,425
98,000
26,245
207,874
51,049
117,289
XLVin.
Stock of Print Olotht—
Jan. 26.
Held by Providence manuf'rers. None.
Fall Elver manufacturers
None.
Pro vidence speculators
None.
Outside speculators (est)
None.
None.
Total stock (pieces)
1888.
Jan. 28.
1887.
Jan. 29.
83,000
29,000
50,000
30,000
27,0(.iO
3,000
15,000
3,000
48.000
192,000
1886.
Jan. 30.
79,000
38,000
259,000
30,000
406,000
were only in moderate demand, but prices ruled firm,
and some makes were slizhtly advanced by agents because of
the rise in print cloths. Staple ginghams, as Amoskeag, &c.,
were freely distributed by jobbers at 6i^c., but there was no
profit in the business, agents' prices remaining unchanged at
7c. less the usual trade discount.
Fine dress ginghams, printed
sateens, challies, lawns, &c. were fairly active in movement
and demand and prices remain firm.
Domestic Woolen Goods. There was a moderate business
in heavy clothing woolens for men's wear, in which cassiPrints
,
—
meres, worsted suitings, kerseys, overcoatings, &c., participated, but buyers evinced much caution in their operations,
and were very conservative in placing orders for next season.
215,583
12,225
On Mississippi
Light weight clothing woolens were quiet in demand, but the
Tot. Jan. 26, '89. 35.595.734 13,227,609 8,120,300 1,634,414 2.378,766 movement on account of back orders was of fair proportions.
Tot. Jan. 19, '89. 36,596,870 13,235.699 8,395,027 1,684.261 2,3si4,214 Satinets were only in moderate request, as were doeskin
332,178 2,995.788
Tol, Jan. 28, '88. 41,761,081 7,1S4,733 5,510,335
but leading makes are not in relundant supply, and
Tot Jan. 29, '87. 61 ,884,712 16,251.898 4,733,373 443,185 2,345.755 jeans,
Soft wool and worsted dress fabrics
Tot. Jan 30, '86. 54,988,795 7,186,054 1,995.019 718,559 1,860,449 prices remain steady.
were in fair request, and there was a light re-assorting
* Last week's stocks this week's not received.
According to Beerbohm's London cablegram, the amount of demand for flannels and blankets.
Foreign Dry Goods.— The demand for foreign goods was
wheat and corn on passage at the dates mentioned stood as
Bomewliat irregular, but a very fair business was done in some
folio wf:
descriptions, and there was a good s'.eady movement in various
sorts on account of importation orders.
Dress silks are firmly
Week ending Jan. 29. Week ending Jan. 22.
held, because of the recent appreciation of raw silk, and
Brain on Fattage.
nearly all imported fabrics of a staple character are firm at
Wheat.
Com.
Wheal.
Corn.
current quotations.
Xto United Klngdcai..qre.
2,254,0001 330,000
2,470.000 307,000
Importatloua of Dry Goods.
347,000| 135,000
So Continent
377,000 106,000
The importations of dry goods at this port for the week
Total quarters...
2.601,000 465.000
2.847.000 413,000
Kqnal intiustiels
20,803,000 3,7 20,000 22,776,000 3.304,000 ending Jan. 24, 1889, and since Jan. 1, and the same facts for
Same week in 1888 .bush. 12,304,000 3,072,000 12,184,000 3,014,000 the corresponding periods of last year are as follows :
Baltimore
Minneapolis
BtPauf.
8,0U6
.
;
.
The exports of wheat from India
eason are as below:
for the week, year
and
3
o
9
Bxporti of Wheat from India
Sa United Kingdom
Xo Continent
Week end'g Week end'g Jan. 1
Jan. 26.
M
s
a
E 2h
Jan
19.
£.
^g g^ Po^q
p-hX
to
p
;
•
g:
I
•
bush.
bush.
380,000
160,000
1,180,000
840,000
bush.
540,000
2,020,000 31,360,000
18,240,000
13,120,000
?
a-
i:
1:
s;
M
©H tow 01
THE DRY GOODS TRADE.
New York, Friday P. M., February 1, 1889.
for dry goods has displayed moderate activity
the past week, and new business reached a fair aggregate
amount, but there was a good deal of irregularity in the
demand. Staple cotton goods were more or less quiet in commission circles, and a break in prices on some very prominent makes of wide sheetings was a somewhat disturbing
element which tended to check operations for a time. Patterned cotton fabrics continued to move steadily from first
hands, and agents' prices are without quotable change. Domestic woolen goods specially adapted for men's wear continued to attract the attention of the wholesale clothing
trade, who placed very fair orders for heavy fabrics (for later
delivery), but there was rather less spirit in the demand than
might have been expected, considering the attractive character of the lines lately opened and the low prices at which the
gcods have been placed on the market. For foreign goods a
(air business for this early stage of the season was reported
by importers and importing jobbers. The general jobbing
trade was of fairly good proportions for the time of year, and
large sales of staple ginghams were made by some of the
large houses, but at prices which left no margin of profit
because local jobbers were compelled to meet the" cutting "
quotations established for certain makes by th«ip Western
oompetiiors.
valued at
America;
America;
Frsnot 6
;
land.
$112,071.
These shipmenls include 650 to South
399 to China; 297 to the West Indies; 110 to Central
99 to Mexico; 21 to England; 11 to Canada: 6 to
to Brit sh Africa; 4 to PhilJipines, and 4 to Switzer-
Since JaLuary
1
the exporis aggregate 10,778 p ckagts
to
o w -^ o
^r-OS^W
00 to
M*>toaso
boiMXtO
MtO
jf^OSi-M*
to -g
I
to
tctoaoFF>'<i
COrf^OCDO
pQO
cccoccooco
MCOOlOO
0<^
ceo CO 1^ 01
crtc
cotocoooo
3Q0iXiO03
00tOb3W*q
COOQDOO
(OCO
ODMOiOSOO
Ui 00 ••'CO CO
OOKO-vJOl
h- to JO to
CD to en CO en
COOiODOOS'fifi
CC<I;^pp
poipwcn
MOitocoT-a
"J-coViasH-
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Domestic Cotton Goods.— The exports of cotton goods from
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