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HUNT’S
MERCHANTS’
^
MAGAZINE,
§Uwjjipiipet,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED STATES.
VOL. ]8
SATURDAY, FEBRUARY 21, 1874.
CONTENTS.
THE CHRONICLE.
Mr. Dawes and his Assailants...
Mr. Cameron’s Banking Bill in
the Senate
Consumption of Cotton in Eu¬
rope in 1873-74
Shall Jayne be Permitted to Re¬
sign ?
of Bondholders
177
181
17S
Changes in the Redeeming
Agents of National Banks...
179
India Cotton Crop
Latest Monetary and Commercial
English News
180
Railway Mortgages—The Rights
Commercial and
News
182
183
184
Miscellaneous
185
THE BANKERS’ GAZETTE.
Money Market,.U. S. Securities,
Railway Stocks, Gold Market,
Foreign Exchange, New York
Citv Banks, Boston Banks.
Philadelphia Banks, National
Banks,
Investments and State, City
Epitome
and
190
Corporation Finances.
THE COMMERCIAL
Commercial
Cotton
Breadstuff s
186
189
etc
Quotations of Stocks and Bonds
197
199
193 I Dry Goods
196 1
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MR. DAWES AND HIS ASSAILANTS.
Among, the latest rumors relative to Mr. Dawes’
timely and popular speech on the financial question, the
most no‘©worthy are that it is to be answered in a day
or two
by prominent members, among others by Mr.
Ellis H. Roberts, ot New York, and by Mr. Kelley, of
Pennsylvania. Both these gentlemen, it will be remem¬
bered, belong >o the Committee of Ways and Means,
of which Mr. Dawes is Chairman. They are prepared, it
seems, to prove in answer to the allegations of Mr. Dawes,
that the present receipts of the Government are in excess
of the expenditure, and that several of the reforms which he
favors are suggested too late, as they are already most of
them before Congress, and before the proper Commiitees
of the House, who have already had referred to their conjsi.deratjoi) .tjhe very questions that Mr, Dawes is now*
agitating in such a way as to produce the impression that
they have been altogether neglected.
As Mr. Dawes’ speech has row been printed in full, it
will
easily be within the power of any man, who is so
disposed, to satisfy himself that the proposed >eply is in
reality none at all. Plausible as it is, it does not touch the
main points of the charges which Mr. Dawes prefers against
Congress. What these are we need not here detail. It
will be sufficient to refer to
First of all he directs
one or
two
of them.
his whole
artillery chiefly against
Congress. He alleges that they rashly appropriated
the vast sum of 52 millions, without providing a single
dollar of funds to pay these appropriations. He shows
that the taxes they took off made a reduction in this year’s
revenue of no less than $44,367,313.
He declares that they
persisted in their rash innovations in spite of the warnings
of the Secretary of the Treasury who told them that they
were
reducing taxation too freely and that mischief would
inevitably cqme of it.
Secondly, he reinforced his. general argument by some
specific facts from the records of the Treasury.
He
showed that in 1870 we expended 309 millions, and paid oft
100 millions of debt.
In 1871 we expended 292 millions,
and paid off 94 millions of debt.
In 1872 the expenditure
was 277 millions, and the extinguished debt 99 millions.
This was all very well, but in 1873 comes a change for
the worse; the expenditures of the government rose to
290 millions, and there was spared but 43 millions towards
paying the public debt, while for the present year the appro¬
priations are 319 millions, and we shall pay none of the
the last
TIMES.
194| Prices Current.
The Commercial
NO. 452-
debt.
Such
are
the main counts in the indictment
for
which is brought
These charges stand mainly
extravagance and financial misfeasance
against the last Congress.
uncontradicted.
It is true that Mr. Garfield took
exception to some minor
which he will correct when,
Appropriations, he reports
the legislative, executive, and internal appropriation bill to
th« House, which will probably be done next week.
For
example, he mentioned that Mr. Dawes included the sinking
fund in his aggregates for 1873 and 1874, and left it out of
his aggregates for the previous years.
Deducting from this
year’s appropriations this sinking fund item of 27 millions,
and also 11 millions more for deficiencies, the regular
expenses of the present year would bo about 280 millions,
instead of 319 millions, as estimated by Mr. Dawes.
Mr.
Garfield’s s atement on this and other estimates of Mr.
Dawes, will be looked for with great interest by the public.
It will show where lies the responsibility for the deficit
which now, for the first lime since the war, afflicts the
Treasury, Acd it will show where lies the real blame for
details in Mr. Dawes’ statement,
as Chairman of the Committee on
-
the over-issues of
legal tenders.
It has often been shown
unreasonable is the general disposition to throw the
how
whole blame
on
responsibility,
were
still
he had
no
[February 21, 1874
THE CHRONICLE
178
Mr. Richardson.
no
more
But it is evident that Congress
doubt.
to blame if
other available
blame attaches
He has his share of the
it will
they created the deficiency which
means of meeting.
How far this
devolve
on
the discussions of the
coming fortnight to show.
Let us now pass to the second part of Mr. Dawes’ speech,
where he prescribes the duty of the present Congress.
This
duly, as he says, is twofold. They must avoid the thoughtless extravagance of the past; and to the evils which that
past has multiplied and bequeathed to us, we must apply a
remedy as best we can. To meet the exigency we have
either to increase our burden of taxes, or to negotiate a new
loan, or better than either, we mu3t cut down our expendi¬
extended
mechanism, which reposes on a foundation of coin
legal money, and far transcends that foundation both
in extent and magnitude and value.
As money is the foundation on which rests the vast struc¬
ture of commerce we find that in almost every other country
but our own the currency is for the most part removed from
the ordinary power of the Legislature. However widely ex.
tended in other respects may be the area of juridical action
and the scope of legislative power;—in regard to the currency
the law giver in modern times seems to have passed a self,
denying ordinance. By common consent, legislation finds
the sacred precincts of the currency almost wholly closed to
its ingress except at rare intervals, and under the safeguard
of extreme caution. Such is the state of things in other
or
other
countries.
How different it is among us we are
reminded by every
day’s work in Congress, and by the anxious criticism of that^
tures.
As to the first alternative, Mr. Dawes says that “ there work in every counting house and hotel and railroad car we
enter.
Nowhere else in the world except among our own
never has been an instance in the history of this Govern ¬
ment when in time of peace our taxes have been imposed people can we find such anxiety about expansion or inflation
of the currency.
Indeed the chances are that in Europe few
for the purpose of carrying on the current expenses-”
He
men in the ordinary
ranks of commerce and trade have any
therefore objects to renew even the tax on tea and coffee
distinct idea of the" real meaning of the term. How far we
which ought never to have been taken off.
Still more does
have advanced before them is evident from the fact that
he object to put on any other new taxation.
As to the tea
and coffee tax he admits that by repeal the Government among the bills introduced this session into Congress there
are a
large number whose avowed open purpose it is
gave up 25 millions of revenue “ without reducing the price
either to expand the currency by new issues, or in some
to the consumers, the whole being divided between the pro¬
other way to disturb the stability of the standard of value
ducer at one end and the wholesale dealer at the other.”
only tax which he mentions for reimposition. among us.
On Thursday, in the Senate, one of the best of these
It is the only new tax which would be popular, M . Dawes
fainth objects to it on the ground that it would put a new measures, the Compromise bill of Mr. Cameron was rejected
burden on the consumer, and should not be imposed if there by a vote of 32 to 26. This vote throws some light on the
question whir h has been considerably agitated of late
were any other way c ut of the position in which the Treas¬
This is the
ury
is at present.
As to the next
expedient, lie said very truly that the
objections are so strong to negotiate a loan in time of peace
for the purpose of meeting current expenses of the Treasury,
that there remains but one course open for Congress.
He
would have the pruning knife of reform applied with a firm
hand and with judicious skill and without delay.
He even
goes so far as to point out several abuses which solicit
immediate amputation.
We have no space to follow the
argument. Enough has been said to show that it is no
answer to Mr. Dawes to say that Congress has made several
fitful efforts at retrenchment, economy and reform, so long
as that
body has not brought any of its retrenchment
schemes as yot to maturity.
MR. CAMERON'S BANKING BILL IN THE SENATE.
“Every nation,” says Samuel Laing, “has its own system of
practical finance, and its own peculiar methods of political
economy.” There is a sense in which this remark is true,
and we may add that every nation has its own specific way
of dealing with its financial problems.
Hence it happens
that those among us who study finance, whether as a
science,
or merely as a trade,
complain that they find so little to
help them in the financial history and researches and expe¬
rience of other nations.
Partly this complaint is to be
attributed, no doubt, to defective habits of inves? igation, or
to a want of training and practice in the difficult act of trans¬
lating the facts of one latitude and clime and country into
that c>f another possessing a wide diversity of conditions.
Of these conditions one of the most powerful and con¬
spicuous is the stability or instability of that delicate in¬
strument of commerce, which goes by the name of “the cur¬
rency.” This instrument comprehends, in its widest signifi¬
cation, much more than the “money,” which is a legal
tender for debtsf In modern times the currency js a widely
whether the Senate
can
be relied
on
to
check and prevent
expansion of the currency. This bill repeals all acts of
Congress which limit the amount of bank notes, and opens
the business of banking in all the States to this extent,—that
under the restrictions now appointed by the law, currency
may be issued to any organization without any limit what
soever as
As
we
which it
to the amount of that currency.
have said this bill is
one
of the best of the
set to
It excels its compeers in that it does r.ot
attempt to tamper with the reserves. Most of the “ freebankers ” want to shake off all legal obligations to keep
reserves.
They would also be free from the shackles of
Government inspection, and of publicity. They we!l know
that the public cannot get at their books to ascertain that
their business is sound except the light of publicity is turned
upon them. These vexatious and inquisitorial restrictions
they desire to rid themselves of for very obvious reasons.
Of course our people know that if they want fres banking
the law gives it to them now. They need no new legisla¬
tion. Banking is more free in this country than any where
else in Christendom.
Any man with capital may open a
bank and lend that capital, and if his neighbors will trust
him with their capital he can receive such deposits and can
belongs.
lend them too.
What further is it which these free bankers ask ?
They
want “currency,” they say.
But why do they ask this
boon ? The answer is that by issuing notes they can earn
double interest on their capital, and can get other advan¬
tages besides. For every bank note represents a bond
which is drawing interest in Washington. So far as a bank
keeps its notes outstanding it earns double interest upon
that part of its capital.
Hence the hungry eagerness of
certain banks to get currency, as they call it.
Currency
operates to give them double interest—double profits, on a
part of their capital.
Mr. Cameron’s bill was favored by these men because it
February 21,
179
THE CHkONICLK
1874.]
of the year, the balance must be what
the mills have taken. But what the mills have taken and
and stock at the end
them a chance to get more currency. At present the
limit of bank notes is fixed; this bill would have removed
gave
what
they have consumed are very
different questions, per-
restriction, and thus was a measure of inflation. Whether
mitting, and often giving rise to quite different
this constituted the sole reason for its rejection by the Senate
The truth of this statement found very forcible illustration
%ve do not know.
Some doubt is, perhaps, thrown upon the
in October, 1871, when M. Ott-Trumpler estimated the
the
of Mr. Cooper’s amendment, which
provides that the Committee on Finance be instructed to
report a bill providing for the convertibility of greenbacks
fact
by their adoption
conclusions.
Britain at 250,000
subsequently gave it at
only 100,000 bales increase. It was not until the summer
into gold coin or five per cent bonds, and also “ for free
of 1872 that the real fact, that M. Oit-Trumpler was rights
banking under the provisions of the National Bank Act,”
became apparent.
Then the speculation which had been
Shall we be asked what causes so severe a necessity to
based on the brokers’ view utterly failed ; for when the
restrict the National bank notes within any fixed limits?
stock of American cotton, according to the estimated con¬
The answer is twofold.
Firs*, these not^s are endorsed by
should and would have, been exhausted, it was
the Treasury.
Now, is it not notorious that the Treasury sumption,
not; proving that although the mills had taken during the
has too mucli matured paper afloat already ?
Is it not very
all that
had not
bad policy to enlarge the amount?
Had we not better previous yearbut held wasas credited to them, they M. Ottconsumed it,
it
a reserved stock, as
wait, at any rate, till the greenback is at par? Secondly,
the bank-notes having the endorsement of the Government, Trumpler had stated.
Then again the past year (1873) saw a similar error com¬
and being a qualified legal-tender, enjoy a forced circulation,
mitted and by the same parties. Very strangely no wis
though not practically redeemed. Hence we see them at
The habit of
this moment swelling the volume of the circulation, in¬ dom was learned by the experience of 1872.
flating prices in Wall street, and stirring up specula¬ overestimating the consumptive power of Great Britain had
tion in, a very mischievous way all over the country. become so fixed as apparently to require for its correction
Thus in the first four months of 1873
To issue more notes still would be to augment all these several such reverses.
Thirdly, such leading Liverpool brokers put their weekly estimate at 02,000
evils and to arm them with new terrors.
issues would not make money plentiful in the West, as bales, advancing it from that point till in one of those
ignorant people suppose. Of course there would be a profit months they claimed it was as high as 64,000 bales. It
in such new issues.
But who would engross this profit? must be remembered, too, that at that period of the year
Not the merchants and farmers, but a few speculators, and consumption was materially checked by the coal famine,
they only. Meanwhile their neighbors and indeed the whole dec., and that subsequently it was really larger than it then
was.
Had those estimates been right the average for the
country would be correspondingly impoverished.
For these and other reasons which we need not here twelve months would have been from 04,000 to 05,000
recapitulate, we have been able to give but little countenance bales. At that same time we were publishing those articles
heretofore to the various projects that have been agitated for which were criticised so severely showing from the spinning
free banking.
Nor is it possible to give full approval even capacity of Great Britain the folly of such figures, and on
to
plan as little objectionable as Mr. Cameron’s, except the 8th of March we summed up the results we had reached;
as to err on the right side, however, we stated that the
it could be securely guarded from abuse by provisions
which, till resumption is established, seem impossible to estimate we gave was not really what we believed the con.
be fully carried out.
What these safeguards are we have sumption would be, but the “ maximum upon a full use of
often explained.
One of the most important is that the the available spinning machinery with due regard to the
bank note shall be wholly divested of its legal tender character ot goods produced.” Yet now we see that even by
functions; and then, in the next place, the notes must be tha Liverpool Brokers’ statistics the actual weekly consump¬
promptly and universally redeemed at par in New York, tion averaged for the year only 61,610 bales, including the
extra waste of our last crop, which of course must be allowed
well
at their own bank of issue.
for if we would know the truth, and thus avoid error in the
increase of
spinner*’ surplus in Great
bales while the
Brokers’ committee
a
so
ns
as
-
CONSUMPTION OF COTTON IN EUROPE, 1873 AND 1871.
It has been
our
custom for
several years—soon after
future.
the
Now with these
preliminary suggestions
and explanations,
the
by this same process determine what has been done
past year. For this purpose we accept as correct
items cf import, export and stock in port at the beginning
of the facts thus obtained to
and end of
receipt of the annual figures of cotton
let
for the various
the
imports, stock, &e.
European countries—to prepare a review of
year’s consumption, and also to attempt upon the basis
give an approximate estimate of
the supplies and demand for the succeeding twelve months.
Last season our conclusions met with much disfavor and
us
these
the
the Liverpool tables. From
mills are easily ascertained.
actually been manufactured depends upon the
the year as given in
facts the takings by the
But what has
of our Liverpool friends, our state¬ spinning power, affected, as it always must be, by the vary¬
consumption being claimed to. be much too small. ing conditions of the trade. Those who watch or study the
We think we are justified in a reference to the matter now} matter closely know that in the early part of 1873 the cotton
not alone because results are singularly proving all our business in England suffered detriment and was for a time
assertions then made, but also for the further reason that diminished by the scarcity and high price of coal and other
This would have reduced the year’s
what we then demonstrated will assist in making m^re adverse circumstances.
consumption below that of 1872 but for the opposite fact
clear present conclusions.
Tiie readers of the Chronicle are aware that our mode of that the market demanded and was supplied with heavier
presenting and testing this question cf consumption is quite goods and yarns than in 1872, when the lighter produc¬
different from the plan usually pursued. Most European tions were most profitable. There was no material increase
writers have one uncertain quantity to deal with, and that is in the number of spindles by new construction, while there
the amount of stock held by the mills.
This must ever be a was some reduction in the use of those existing. The result
debitable point so long as it is simply estimated.
The is that the average number of spinning spindles running as
tor full time was about the same as in 1872, but working
imports with the stock at the beginning of the year, show
more cotton to produce heavier yarn.
We put the running
us the supply; apd if from this supply we take the
experts
criticism among some
ment of
[February 21, 1874
THE CHRONICLE
180
Great Britain
:
Bales.
1873.
333,000
649,050
3,904,240
Stock held by spinners, January 1,1873..
Stock in the ports, January 1, 1873
Imports during the year
Total
4,886,290
591,490
supply
Export duriug the year
Actual consumption—year
Stock in the ports, December
3,216,710
Total accounted for
Leaving stock held by spinners, Jan. 1, ‘74
Consumption in-
Continent
778,090
“
Stock in
port, Dec. 31, 1573.
Stock of spinners,
“
Mch.
8, ’73.
3,200,000
'2,412,000
5,334,710
5,612,000
2,023,240,000 2,080,000,000
1,051,000
'1,051,000
1,013,000
130,000
300,000
'400,000
present year (1874), the extreme
the world can be easily determined.
...bales.
“
With
regard to the
consumptive capacity of
The cotton consuming capacity of all the spindles in Europe
was not fully
used in 1873 and may not be in 1874. Sup¬
posing, however, all to be run on lull time throughout the
year, and to produce coarser yarn in the average than they
have for many years, the consumption of cotton in 1874
might be—
Total
Total
Lbs. per
Average
Spinning
Spindles.
Consumption—
In Great Britain...
On Continent
Total
As
283,405,000
1,747,114,000
120,000,000
300,000
bales.
5,409,120
pounds.2,072,149.910
Total consumption
,
Estimated
3,216,710
2,168,000
3,203/710
2,205,410
bales.
Great Britain
“
Feb., 1874.
Jan., 1874.
...
...
capacity.
...
37,000,090
19,000,000
56,000,000
Bpindle.
34
45
.
.
Lbs.
Bales.
3,225,600
2,322,300
5,547,900
v
Pounds.
372
1,258,000,000
864,000,000
382^
2,122,000,000
390
supply we do not propose^ to give any estimate at
present. It is sufficient for our purposes to state that the
best authorities in Great Britain range from 5,600,000 bales
to 5,750,000 bales, as the amount to reach Europe during
1874, and in that is included 2,800,000 babs to 2,900,000
bales of American.
Therefore, even if we accept the
smallest estimate, it will be seen that the year’s supply will
Pounds.
133,361,000 exceed the largest possible consumption, adding a little to
225,207,000 the
surplus which showed itself in the last three months of
1,508,546,000
1873; while the largest estimate of supply would raise the
1,867,114,000
surplus to about 1,650,000, tales and as much more as the
209,334,000
1,254,375.000 consumption shall be less than the full spinning capacity
4,586,290
31,1873
Chronicle.
Ellison & Co.
spindles at 36,000,000, against 35,800,000 in 1872, and the
average consumption of cotton at 33TS7 lbs. per spindle (very
nearly up to the full rate of the prosperous year 1871 when
it was 33/^) against 32T0gL- during 1872.
Another point to be remembered is, that although the
Surat crop was of unusually good quality, the American
was
very poor both in grade and staple.
A very large por¬
tion of it was degraded by the presence of dust and sand,
and of that portion the most was shipped*to Liverpool.
Grown in the Mississippi valley and on rich lands the
greater part of that dusty cotton had the best staple of the
whole crop. Its unusual excess, however, depreciated it in
relative price far lower than usual, and this inured to the
benefit of the English consumer, who found it highly profit¬
able stock at the price.
But the waste was very large, as we
showed in our article of January 31, exceeding, as we then
stated, five per cent: and yet if no more than that, its use
was
quite advantageous to the spinner, who gained an abAte.
ment of 20 to 25 per cent in the price, and the loss to the
planter producing it was correspondingly large.
Taking, then, these data for determining the actual con
sumption, and bringing forward our own figures of “ Stock
held by spinners,” we arrive at the following results for
to
suggests an actual surplus of 1,750,000 bales of cotton
Europe during the last three months of 1874. „
We called attention to the fact a few weeks since that the
This
in
weight of halos in the consumption was 390 preference for American cotton, enforced by the demand of
lbs., against 360 lbs. last year, but that included the extra the operatives, has increased in spite of a widening difference
waste of the last American crop, which, if five per cent, would in prices;
and this preference is no longer confined to
be tl.ree per cent of the whole apparent consumption, or English operatives, but prevails in the larger manufacturing
37,631,000 lbs.—reducing the consumption to 1,216,744,000 towns in Germany and elsewhere on the Continent. It
lbs. of cotton having the usual average of waste.
This seems, therefore, well assured that the demand for American
exceeds the consumption of 1872 by nearly four per cent. cotton will increase, to the neglect of other sorts, until tin
(46,144,000 lbs.), while the number of bales used is less by latter drop to a price which will enable the master spinners
48,910 than last year. The weight of cotton ‘used, minus to pay the requisite extra wrages on piece work and yet
the ex'ra waste, being 1,216,744,000 lbs, is <qual to obtain a profit by their use. This it is thought likely will
3,120,447 bales of 390 lbs. average, and this gives an result when, with Middling Uplands at 8d., FairJ)hollerah
can be bought at 5d.
average per week of 60,008 bales.
If now we add the consumption of the Continent for the
SHALL JAYNE BE PERMITTED TO RESIGN ?
year as computed by the best authorities, we reach th •
We think he should not be.
What are the facts of the
lollowing result for the whole of Europe—
The average
Bales.
•
*
Poumts.
case
%
.
Congress passed a high tariff act. The question whether
it was good or bad policy to pass a protective teriff is not
the point at issue.
A large majority of the peoples repre¬
Net pounds.
1,216.744,000
sentatives thought such action was wise, and acted accord
Total for Europe
5,384,710 (of 374 lbs) 2,023,240,000 ingly. High rales of duty are of course additional induce¬
Our estimate (designedly excessive, as stated above) made ments to defraud the Government, and consequently more
nearly a year ago, March 8, was for—
stringent measures to detect any evasion of such duties and
Pounds.
Bales.
of the provisions of the internal revenue law were thought
Consumption of Europe, 1373. .5,612,000 (of 370 lbs) 2,080,000,000
Consumption of Continent, 1873.2,168,000 (of 372 lbs) 806.496,000
Add for Great Britain
3,216,710(ol 390 lbs) 1,254,375,000
Less for extra waste in lbs
37,631,009
hand, Dec. 31, 1873, the actual, and our necessary. As a result
appointed was passed.
in March last, are as follows :
Of the stocks
estimate
on
Bales.
In ports of England and
And held by spinners
the Continent.. .1,051,000
300,000
1,351,000
Total
And
our
(’ailed for
557,380,000 !
I
1,413,000
524,900,000
approximation between the actual results and
figures of a year ago is certainly very satisfactory. We
also give for comparison and in connection with our own,
Messrs. Ellison A (h>.’s annual figures, just issued:
This close
our
a
odium which
399,380,000
158.000,000
estimate of March S—
disposition to relieve thi3 man of some of the
has fastened upon him by saying that he was
the mere creature of a bad policy and of a corrupt Congress.
Neither of these positions are, in our opinion, tenable. This
rule of moieties was undoubtedly unwise because it per¬
mitted of the very abuses we have experienced.
But
had it been executed by persons simply desirous of ful¬
filling their duty—of carrying out the intent of the act;
that is, preventing the evasion of the tariff and revenue
charges-—the disgraceful figures we published last week
Tuere is
Pounds.
the law under which Jayne was
THE
February 21, 1874.]
181
CHRONICLE.
In doing
this we may be compelled to repeat
facts we have already stated ; but the subject has a peculiar
calling Congress corrupt because it passed a high tariff, or
because it enacted stringent measures to enforce it.
Such interest now, and in developing it some repetition is neces¬
would
never
have existed.
We fail to
see
the wisdom of
bondholders.
simply for the purpose of bringing odium sary.
It is surprising how unlike an ordinary mortgage these
on certain legislation which we do not like,
appears to us
not only unjust, but unwise.
There are corrupt men in instruments are. To make this difference the more apparent,
Congress and there are corrupt men out ot Congress. The we will divide them into three classes. In the first, we in¬
aim of the movement for reform is to mark these slippery clude those in which the bondholder has no power to recover
characters, and by bringing them to punishment purify the his money ; in the second, those in which he has such
atmosphere everywhere. We delay this purifying process power on certain conditions ; and in the third, those in
which his rights are plainly staled, and the authority given
when we are not more discriminating in our charges.
We repeat, therefore, that it is not the tariff law, nor the by which they may be enforced.
law to enforce the tariff, nor yet Congress, that is to blame
We may state generally, then, that in all that class
for this rottenness, which has now been exposed.
We have of cases where a certain proportion of the owners of the
no love for that species of legislation, and in the corruption
whole issue is necessary in order to the enforcement of
that is possible under it, could see an argument against such his
rights, the bondholder evidently has no power to act
legislation, if that question were now at issue. But a pro until more than that proportion of the whole issue has been
tective policy being adopted, all must admit that very strin¬ sold to investors.
If, for instance, the Northern Pacific
gent measures of some kind are necessary for the safety of Railroad deed required that a request for foreclosure should
honest merchants, if for no other reason; they expect to come from
fifty per cent of the whole intended issue of
pay the charges against their goods, and must retire from $100,000,000, what would the right ot the bondholders
business, if all are not forced to do the same.
amount to with only $30,000,000 disposed of and $70,000,We see, therefore, no way for Jayne, or any one of his
000, the balance of power, under the control of the com¬
co-patriots, to hide himself behind the laws of Congress, or to pany 1 As the request for foreclosure sale can come fiom
shake off on to the backs of our legislators, any of his guilt. the holders of
$10,000,000, this difficulty does not now
He must stand or fall by his own acts, and we protest
present itself; though if default had taken place before
against his being permitted to slip into obscurity with hig $10,000,000 bonds were sold, the then owners would
pack of gold, until he has first passed the ordeal of a pretty have been powerless. This illustration is sufficient to show
thorough examination by a Congressional committee; and it that the first purchasers of any bond are in this same condi¬
strikes us that oiir Washington authorities owe it to them
tion whenever a per centum of the whole issue is required
selves to sift this matter to the very bottom. There has been as a
preliminary to the enforcement of such rights. If, as
gross abuse of power; honest merchants, many of them as in the case of the St. Joseph & Denver City, E. D., no per cent
thoroughly good men as ever lived, have been oppressed, yes is required, the first purchaser is of course equal to the last.
wholesale abuse,
robbed in the
name
of the Government, and some one cer¬
As an instance of the first class stated above the deeds
tainly is to blame ; and while executing the law, the manner securing the bonds of the Boston, Hartford and Erie, may
and language of this man, who apparently is to be allowed
be mentioned, and those of the Canada Southern, of both of
to slip away so quietly, has been offensive in the extreme.
which we have heretofore spoken, and neither of which
Thus the greatest odium has been brought upon Congress,
allow the bondholder to reimburse himself from the cash
and upon all high officials at Washington by the course
proceeds of ihe mortgaged property. He cannot sell. He
which has been pursued. Now, if the present wave of ex¬
can
only enjoy its use; in the former case forever, and
citement is to be permitted to close over the heads and acts
in the latter till the property is capable of earning the
of such individuals under th<* plea that they are mere puppetsj
interest duo him, and then he must restore possession to the
and what they have done are simply the results of bad laws
party who should have paid the interest promptly. The
and corrupt legislation, we do not see how the conclusion
owners of Montgomery and Eufnula bonds, endorsed by the
can be resisted that their conduct is approved, and, in fact,
State of Alabama, cannot enforce payment. The mortgage
this theory of the case adopted.
We trust, therefore, that was made to the State, and then the endorsement was given
no resignation will be accepted ; let this man and all others
Now the State will not enforce the mortgage, and the bond,
acting with him be simply suspended until a thorough ex- holders must simply
submit, continuing to look to the State
animation is made.
for the payment of the interest, and as the State cannot be
suggestions ’ e would make. The first is sued on its endorsement the caRe of course is not a hopeful
that all of this money should be traced; find out where
one.
As to the Northern Pacific mortgage there are also
every cent of it is gone.
Much may be learned in this way.
peculiarities which render it an r imperfect instrument.
It is believed that the parties who received it did not retain
Article eleventh of the deed says that if default in the
it all.
Some of it is reported to have passed up higher.
payment bas continued for six months, the Trustees are
This more likely is simply rumor, and the facts, when dis
“authorized and empowered, in their discretion,,” to sell “ so
closed, will refute it. At all events let us have the facts much of such land as shall be necessary to pay and satisfy
Finally, some means should be devised for relieving these such liabilities,” but the Trustees can do this “in their dis¬
persons of this money, if the circumstances as to the manner
cretion,” only after six months from the date of demand
of getting it, which are supposed to exist, are proved.
It is made at the principal office of the company for the payment
a severe shock to
honest industry and persevering < flbrt to
of the same.
In article thirteenth we read, “ In case
see such men by such
means suddenly attain to wealth, and
default shall be made as aforesaid, and shall continue for
if they could be “pumped out” now, it would be a blessing
the space of three years” “it shall be lawful for” the
to the community.
trustees to sell “all” the mortgaged premises “ or only
so much or such part* thereof as
they may de^m necessary
Two
'
further
RAILWAY MORTGAGES—RIGHTS OP BONDHOLDERS.
Having noted in previous articles certain points of dif¬
railway mortgage deeds, and discussed the duties
trustees, we propose at this time to examine the rights oft
ference in
ot
a due regird to the interest of all parties.*
four words. Article eighteenth provides
that “ if default be as to interest or principal of any bonds
it “shall be the duty of the trustees” to exeroise the power
and proper
with
Notice the last
spindles at 36,000,000, against 35,800,000 in 1872, and the
average consumption of cotton at 33T#T lbs, per spindle (very
nearly up to the full rate of the prosperous year 1871 when
it was 33^^) against 32T°ff7y during 1872.
Another point to be remembered is, that although the
Surat crop was of unusually good quality, the American
was
very poor both in grade and staple.
A very large por¬
tion of it was degraded by the presence of dust and sand,
and of that portion the most was shipped*to Liverpool.
Grown in the Mississippi valley and on rich lands the
greater part of that dusty cotton had the best staple of the
whole crop. Its unusual excess, however, depreciated it in
relative price far lower than usual, and this inured to the
benefit of the English consumer, who found it highly profit¬
able stock at the price.
But the waste was very large, as we
showed in our article of January 31, exceeding, as we then,
stated, five per cent: and yet if no more than that, its use
was
quite advantageous to the spinner, who gained an abate,
ment cf 20 to 25 per cent in tha price, and the loss to the
planter producing it was correspondingly large.
Taking, then, these data for determining the actual con
sumption, and bringing lorward our own figures of “Stock
held by spinners,” we arrive at the following results for
Great Britain
:
Biles.
1873.
Imports during the year
Total
supply
Export duriug the year
consumption—year
Stock in the ports,
December 31,1873
Pounds.
133,361,000
225,207,000
3,904,240 1,508,546,000
233,000
649,050
Stock held by spinners, January 1, 1873..
Stock in tlie ports, January 1, 1873
Actual
[February 21, 1874
THE CHRONICLE
180
4.886,290 1,867,114,000
209,334,000
591,490
3,216,710 1,254,375,000
778,090
283,405,000
4,586,290
Total accounted for
Leaving stock held by spinners, Jan. 1,'74
1,747,114,000
300,000
120,000,000
Chronicle.
Ellison & Co.
Consumption in-
Continent
“
Stock in port, Dec.
Stock of spinners,
.
5,409,120
pounds.2,072,149.910
1,051,000
130,000
present year
31, 1573. ...bales.
5,612,000
2,023,240,000 2,080,000,000
1,051,000
1,013,000
'
300,000
“
“
8,200,000
2,412,000
5,334,710
consumption............. bales.
“
,
Estimated
Mch. 8, ’73.
3,216,710
2,168,000
3,203,710
2,205,410
bales.
Great Britain
Total
Feb., 1874.
Jan., 1874.
1400,000
(1874), the 'extreme
regard to the
consumptive capacity of the wrorld can be easily determined.
The cotton consuming capacity of all the spindles in Europe
was not fully used in 1873 and may not be in 1874.
Sup¬
posing, however, all to be run on lull time throughout the
year, and to produce coarser yarn in the average than they
have for many years, the consumption of cotton in 1874
might be— *
With
Spinning Lbs. per
Consumption—
In Great Britain
On Continent
r
Lbs.
Bales.
Spindle.
37,000,090
19,000,000
34
45
3,225,600
2,322,300
..
5,547,900
capacity..., 56,000,000
Total
Average
Total
Spindles.
v
\390
372
332^
Total
Pounds.
1,258,000,000
864,000,000
2,122,000,000
supply we do not propose^ to give any estimate at
present. It is sufficient for our purposes to state that the
best authorities in Great Britain range from 5,600,000 bales
to 5,750,000 bales, as the amount to reach Europe during
1874, and in that is included 2,800,000 babs to 2,900,000
bales of American.
Therefore, even if we accept the
smallest estimate, it will be seen that the year’s supply will
exceed the largest possible consumption, adding a little to
the surplus which showed itself in the last three months of
1873; while the largest estimate of supply would raise the
surplus to about 1,650,000, bales and as much more as the
consumption shall be less than the lull spinning capacity
This suggests an actual surplus of 1,750,000 bales of cotton
in Europe during the last three months of 1874.
We called attention to the fact a few weeks since that the
As
to
The average weight of halos in the consumption was 390 preference for American cotton, enforced by the demand of
lbs., against 360 lbs. last year, but that included the extra the operatives, has increased in spite of a widening difference
.
of the last American crop, which, if five per cent, would
be three per cent of the whole apparent consumption, or
waste
37,631,000 lbs.—reducing the consumption to 1,216,744,000
lbs. of cotton having the usual average of waste.
This
exceeds the consumption of 1872 by nearly four per cent.
[46,144,000 lbs,), while the number of bales used is less by
48,910 than last year. The weight of cotton ‘used, minus
the ex'ra waste, being 1,216,744,000 lbs, is equal to
3,120,447 bales of 390 lbs. average, and this gives an
average per week of 60,008 bales.
.
If
now we
add the
consumption of the Continent for the
computed by the best authorities, we reach th
following result for the whole of Europe---
year as
Bales.
>
•
Pounds.
Consumption of Continent, 1873.2,168,000 (of 372 lbs) 806,496,000
Add for Great Britain
3,216,710(of 390 lbs) 1,254,375,000
37,631,009
Less for extra waste in lbs
Net
pounds
Total for
~
Europe
1,216.744,000
5,384,710 (of 374 lbs) 2,023,240,000
Our estimate
nearly
a year
(designedly excessive, as stated above) made
ago, March 8, was for—
Bales.
Pounds.
Consumption of Europe, 1873. .5,612,000 (of 370 lbs) 2,080,000,000
hand, Dec. 31, 1873, the actual, and our
in March last, are as follows :
Of the stocks
estimate
on
Bales.
399,380,000
158,000,000
557,380,000
1,413,000
524,900,000
Total
our
Pounds.
the Continent.. .1,051,000
300,000
1,351,000
In ports of England and
And held by spinners
And
estimate of March 8—
Called for
This close
approximation between the actual results and
figures of a year sgo is certainly very satisfactory. We
give for comparison and in connection with our own,
Messrs. Ellison & Co.’s annual figures, just issued:
our
also
prices; and this preference is no longer confined to
English operatives, but prevails id the larger manufacturing
towns in Germany and elsewhere on the Continent.
It
seems, therefore, well assured that the demand for American
cotton will increase, to the neglect of other sorts, until tin
latter drop to a price which will enable the master spinners
to pay the requisite extra wages on piece work and yet
obtain a profit by their use. This it is thought likely will
result when, with Middling Uplands at 8d., Fair Dhollerah
can be bought at 5d.
in
We think he should not
case
TO RESIGN?
What are the facts of the
SHALL JAYNE BE PERMITTED
be.
?
Congress passed a high tariff act. The question whether
good or bad policy to pass a protective tariff is not
the point at issue.
A large majority of the peoples repre¬
sentatives thought such action was wise, and acted Accord
ingly. High rates of duty are of course additional induce¬
ments to defraud the Government, and consequently more
stringent measures to detect any evasion of such duties and
of the provisions of the internal revenue law were thought
necessary.
As a result the law under which Jayne was
appointed was passed.
Tnere is a disposition to relieve this man of some of the
odium which has fastened upon him by saying that he was
the mere creature of a bad policy and of a corrupt Congress.
Neither of these positions are, in our opinion, tenable. This
rule of moieties was undoubtedly unwise because it per¬
mitted of the very abuses we have experienced.
But
had it been executed by persons simply desirous of ful¬
filling their duty—of carrying out the intent of the act;
that is, preventing the evasion of the tariff and revenue
charges—the disgraceful figures we published last week
it
was
THE
February 21, 1874.]
181
CHRONICLE.
this we may be compelled to repeat
facts we have already stated ; but the subject has a peculiar
calling Congress corrupt because it passed a high tariff, or
interest now, and in developing it some repetition is neces¬
because it enacted stringent measures to enforce it. Such
would
never
have existed.
In doing
We fail to see the wisdom of bondholders.
simply for the purpose of bringing odium sary.
It is surprising how unlike an ordinary mortgage these
on certain legislation which we do not like,
appears to us
not only unjust, but unwise.
There are corrupt men in instruments are. To make this difference the more apparent,
Congress and there are corrupt men out ot Congress. The we will divide them into three classes. In the first, we in¬
aim of the movement for reform is to mark these slippery clude those in which the bondholder has no power to recover
characters, and by bringing them to punishment purify the his money; in the second, those in which he has such
wholesale abuse,
atmosphere everywhere. We delay this purifying process
when we are not more discriminating in our charges.
the
We repeat, therefore, that it is not the tariff law, nor
law to enforce the tariff, nor yet Congress, that is to blame
for this rottenness, which has now been exposed.
We have
species of legislation, and in the corruption
possible under it, could see an argument against such
legislation, if that question were now at issue. But a pro¬
tective policy being adopted, all must admit that very strin¬
no
love for that
that is
gent measures of some kind are necessary
honest merchants, if for no other reason;
for the safety of
they expect to
pay the charges against their goods, and must retire from
business, if all are not forced to do the same.
We see, therefore, no way for Jayne, or any one of his
co-patriots, to hide himself behind the laws of Congress, or to
shake off on to the backs of our legislators, any of his guilt.
He must stand or fall by his own acts, and we protest
against his being permitted to slip into obscurity with hig
pack of gold, until he has first passed the ordeal of a pretty
thorough examination by a Congressional committee; audit
strikes us that oiir Washington authorities owe it to them
selves to sift this matter to the very bottom. There has been
gross abuse of power; honest merchants, many of them as
thoroughly good men as ever lived, have been oppressed, yes
robbed in the
name
of the Government, and some one cer¬
certain conditions; and in the third, those in
rights are plainly stated, and the authority given
by which they may be enforced.
We may state generally, then, that in all that class
of cases where a certain proportion of the owners of the
whole issue is necessary in order to the enforcement of
his rights, the bondholder evidently has no power to act
until more than that proportion of the whole issue has been
sold to investors.
If, for instance, the Northern Pacific
Railroad deed required that a request for foreclosure should
come from
fifty per cent of the whole intended issue of
$100,000,000, what would the right ot the bondholders
amount to with only $30,000,000 disposed of and $70,000,000, the balance of power, under the control of the com¬
pany ? As the request for foreclosure sale can come fiom
the holders of $10,000,000, this difficulty does not now
present itself; though if default had taken place before
$10,000,000 bonds were sold, the then owners would
have been powerless. This illustration is sufficient to show
power on
which his
condi¬
whenever a per centum of the whole issue is required
preliminary to the enforcement of such rights. „ If, as
that the first
tion
as a
& Denver City, E. D., no per cent
required, the first purchaser is of course equal to the last.
As an instance of the first cias-? stated above the deeds
in the
is
purchasers of any bond are in this same
case
of the St. Joseph
tainly is to blame ; and while executing the law, the manner securing the bonds of the Boston, Hartford and Erie, may
language of this man, who apparently is to be allowed be mentioned, and those of the Canada Southern, of both of
to slip away so quietly, has been offensive in the extreme.
which we have heretofore spoken, and neither of which
Thus the greatest odium has been brought upon Congress,
allow the bondholder to reimburse himself from the cash
and upon all high officials at Washington by the course
proceeds of the mortgaged property. He cannot sell. He
which has been pursued. Now, if the present wave of ex¬
can
only enjoy its use; in the former case forever, and
citement is to be permitted to close over the heads and acts
in the latter till the property is capable of earning the
of such individuals under the plea that they are mere puppets^
interest du^ him, and then he must restore possession to the
and what they have done are simply the results of bad laws
party who should have paid the interest promptly. The
and corrupt legislation, we do not see how the conclusion
owners of Montgomery and Euftula bonds, endorsed by the
can be resisted that their conduct is approved, and, in fact,
State of Alabama, cannot enforce payment. The mortgage
this theory of the case adopted.
We trust, therefore, that was made to the State, and then the endorsement was given
no
resignation will be accepted ; let this man and all others Now the State will not enforce the mortgage, and the bond,
acting with him be simply suspended until a thorough ex. holders must simply submit, continuing to look to the State
ami nation is made.
for the payment of the interest, and as the State cannot be
Two further suggestions v e would make. The first is
sued on its endorsement the case of course is not a hopeful
that all of ihis money should be traced; find out where
one.
As to the Northern Pacific mortgage there are also
every cent of it is gone.
Much may be learned in this way.
peculiarities which render it an imperfect instrument.
It is believed that the parties who received it did not retain
Article eleventh of the deed says that if default in the
it all.
Some of it is reported to have passed up higher.
payment has continued for six months, the Trustees are
This more likely is simply rumor, and the facts, when dis
“authorized and empowered, in their discretion” to sell “ so
closed, will refute it. At all events let us have the facts much of such land as shall be necessary to pay and satisfy
Finally, some means should be devised for relieving these such liabilities,” but the Trustees can do this “in their dis¬
persons of this money, it the circumstances as to the manner
cretion,” only after six months from the date of demand
of getting it, which are supposed to exist, are proved.
It is made at the principal office of the company for the payment
a severe shock to
honest industry and persevering effort to
of the same.
In article thirteenth we read, “In case
see such men by such means suddenly attain to wealth, and
default shall be made as aforesaid, and shall continue for
if they could be “pumped out” now, it would be a blessing
the space of three years ” “ it shall be lawful for ” the
to the community.
trustees to sell “ all ” the mortgaged premises “ or only
and
so
much
or
such parts
thereof
as
they may deem necessary
due regird to the interest of all parties.*
words. Article eighteenth provides
Having noted in previous articles certain points of dif¬
ference in railway mortgage deeds, and discussed the duties that “ if default be as to interest or principal of any bonds
of trustees, we propose at this time to examine the rights of it “ shall be the duty of the trustees ” to exeroise the power
RAILWAY MORTGAGES—RIGHTS OP BONDHOLDERS.
and proper
with
a
Notice the last four
[February 21, 1874.
THE CHRONICLE
182
entry or sale upon the requisition of' holders of not less cipal of the bonds
than ten million dollars of the bonds, “ and upon such interest, but it is
of
shall become due oil the non-payment of
expressly provided that it shall be at the
requisition and a proper indemnification by the persons “option” of the trustees to declare such principal due*
provided, however,” that a majority in interest of the hold
making the same to the trustees, against the cost and ex¬
ers of all the said bonds, then outstanding, shall have power by
penses to be by them incurred, it shall be the duty of the
an instrument in writing to “instruct” the trustees to declare
trustees to enforce the rights of the bondholders under these
the said principal to be due, or to waive that declaration,
presents by entry, sale, or legal proceeding*, as they, being
“on such terms and conditions as such majority in interest
advised by counsel learned in the law, shall deem most expe¬
The deed of the European and North
dient for the interest of all the holders of the said bonds.” may deem proper.”
American Railway states that if default in the payment
A Northern Pacific bondholder, therefore, is limited in his
shall be made and shall continue for one yei.r, “ and the pay
action to what the trustees may “ in their discretion,” deem
ment thereof shall have been demanded, then the principal
to be “lawful” and for the besS interests of “ all parties;’’
and prior to the possibility of enforcing those rights by of all the bonds secured hereby, if a majority in interest of
all the holders of said bonds direct in writing, before the
entry or sale the owners of ten millions must unite in a
written request, and must accompany such request with a interest so in arrears has been paid, shall be declared by the
said parties of- the second part (the trustees) to be immedi¬
“proper indemnification.”
ately due and payable, and thereupon the same shall become
The second class of railway mortgage deeds comprise a
due and payable, anything contained in the said bonds or
very large number.
In the majority of mortgages the herein to the
contrary notwithstanding. The Burlington^
bondholders have merely limited power. And first, we may
Cedar Rapids and Minnesota first mortgage deed limits the
notice the provisions, according to which the owners can do
rights of bondholders in the same manner and in almost the
nothing for the protection of their interests without the con¬
same words.
sent and co-operations of the trustees.
As a rule, this class
Again the rights of the bondholders may be limited by
of deeds say that it shall be “ optional ” with the trustees
the requiring, a guaranty or indemnity by them to the
whether they shall take possession of the road in the interests
of the bondholders; and as it is alyo generally the C;se trustee before the trustee is compelled to take any steps for
The Western
that the bondholders cannot do anything unless such prior the protection of the bondholders rights.
action be taken by the trusters, we may clearly see that Extension New York Midland mortgage requires that the
their movements are materially limited in all such instru¬ trustees shall be “duly indemnified against any and all
But again, if the trustees will not act in the liability,” and their indemnity must be given by the forty
ments.
premises, even though informed by the deed conveying per cent who make the request for foreclosure. We might
to them the property in trust, that it “shall be lawful” for pursue this discussion further, but think we have noticed
them to take possession of the road, then in many cases sufficient of the limitations named in trust deeds themselves
the bondholders have no power to compel them to take the to show that those limita ioas are of various kinds a* d
first step for the protection of their rights. In the New York frequently of several kinds in the same deed.
Our third division of mortgage deeds includes those which
and Oswego Midland First Mortgage it is provided that,
the trustees “having entered” into full possession of the not only permit but require the trustees to act in default
premises, “then” they may, “or on the written request cf without any limitations whatsoever. It would serve no
the holders of at least twenty per centum of the bonds good purpose to give special instances ot this class ot‘
hereby secured then outstanding unpaid,” they “shall” pro instruments. Bat why should they not all possess suhstan.
ee*d to sell the mortgaged premises.
The same wording tially this character? The floating of such mortgages as
is noticed in the mortgage deed of the Western Extension the Boston, Hartford & Erie only results in lawsuits and
of their road.
The New Jersey Midland First Mortgage disappointments of every kind.
reads the same on the two deeds we have quoted, except
that the request, after the trustees have “entered into full
CHANGES IN THE REDEEMING AGENTS OF NATION A! BINkS
possession of the premises,” must come from forty per cen¬
The following are the changes in tlie Redeeming Agents of
tum of the bondholders; and exactly the same requirement
National Banks approved since the 12th inst.
These weekly
is found in the second mortgage deed of the New York and
changes are furnished by and published in accordance with an
Oswego Midland.
arrangement made with the Comptroller of the Currency:
“
Prior entry
Cedar Rapids
is r.ot required by the deed of the Burlington,
and Minnesota although less then a majority
of bondholders cannot enforce their rights.
“ It shall be”
the duty of the trustees of the Danville, Hazleton and Wilkes
B trre first mortgage bonds to sell all the property and fran.
chises, including the equity of redemption, upon the request
of a majority of the owners of outstanding bonds.
The
mortgage of the Indiana and Illinois Central allows the
holders of $500,000 of bonds, one-seventh of the whole
issue, to insist upon their rights as it says distinctly that the
trustees “ shall foreclose this mortgage by legal proceed
ings without any previous entry.” Only a majority in in.
terestcan “
authorize” the trustees of the Central of Iowa first
LOCATION
Richmond—
\
irginia
behalf.
1). C.
Illinois—
St. Charles.
Michigan—
Kane County
tional Bank
Wisconsin—
Green Bay.
Kellogg
Iowa—
Keokuk
Bank
Iowa—
Ottumwa
Wash-
ington, D. C., approved as an addi¬
tional Redeeming Agent.
National Commercial National Bank, Chicago,and First National Bank of Milwau¬
Bank
kee,
approved.
National First National Bank, Chicago, and St.
Louis National Bank, St. Louis,
......
approved.
Iowa National
B’nk St. Louis National Bank,. St. Louis,
approved
as an
additional redeeming
agent.
Missouri—
La Grange.,
First National
in their
Rapids and Indiana deed specifically
entry or without entry” the trustees may
brings us to another way in which the bond¬
holders rights may be limited.
The mortgage deed of the
Grand Rapids and Indiana road does not state that the prin¬
National Bank. Chicago.
National Bank of the Republic,
j
Owusso
Keokuk
Na¬ Merchants’ National Bank, Chicago,
| approved in place of Cook County
iFirst National B’nk
B’nk National Bank of the Republic, Wash¬
ington, D. C., approved as an addi¬
tional redeeming agent; St. Louis
National Bank, St. Louis, approved
in place of Union National Bank, St.
Louis.
New
act for the bondholders.
This
Wash¬
ington, 1). C., approved in place of
Second National Bank, Washington,
The Grand
that “ after
AGENT.
National Bank of... National Bunk of the Republic,
...
mortgage bonds to take possession of the property
states
REDEEMING
NAME OF BANK.
National Banks
National Banka*
organized during the past week:
Official No.
2,135.—Commercial National Bank. Charlotte, N. C. Authorized 'capital,
$100,000; paid in capital, $50,000: C. Dowd, President; R. M. Miller,
Cashier.
Authorized to commence business
February 18th, 1874.
February 21,1874.]
THE CHRONICLE.
THE
On the
18th
of
January, last
INDIA
published
183
COTTON CROP.
article
the India cotton crop, containing all the particulars
regard to the Monsoon and the growth of the crop. We now give similar information prepared by Mr
Charles A. Easton of this
city about the coming crop. Our extracts are from the fortnightly circulars of Finlay, Muir &
Co., of Bombay. We commence with the Monsoon, as the crop depends to so
large an extent on the amount of the
year, we
an
on
obtainable with
rain-fall
during that season. If our friends will compare these extracts carefully with those which we gave of 1872 and
1871, they will be able to form an intelligent opinion as to the probabilities for 1874.
The price fcr fair Dhollera in
Liverpool, on January, 1872, was 7 15-lCd., and at the end of the year it was G 15-10d
The average was 7-Jd. In
January, 1873, the price was 7 5-16d., and the quotations were steadily reduced through the
year to 5£d.
The average of last year was GJd. Notwithstanding the declining prices of last year the movement of
cotton to
Europe appears not to have been materially checked. The receipts at Bombay were larger than the previous
year, being 1,036,350, against 990,180 for 1872.
The shipments for 1873 are also larger than for 1872, 961,882,
against
930,8G1. The rain-fall during the Monsoon has been very satisfactory, and we have reason to believe that more land
has been devoted to cotton than in 1872, and also that there is more old cotton left in
the country than at this time last
year.
The shipments from Bombay for the
past eight years show very little difference, as will be seen in our table below :
18T3.
1873—June
heavy rain
registered.
6th.—Stormy weather at the end of last week was followed by
Monday and Tuesday, and upwards of five inches have been
in ere long the consequences
may he serious. Advices from Hingunghaut and
the Berars give satisfactory.accounts of the
appearance and prospects of the
cotton crop.
In Hingunghaut the crop is about a month later than usual, but
iu the Berars it is well forward, and if all
goes well a large and fine prospect
may be expected.
An increase of area is said to have been put under cotton.
August 28.—Heavy rain set in on Sunday last, and since that about ten
inches have been registered in Bombay,
bringing the total to date to 53 inches.
The rainfall during the past week has been
general throughout the country, so
far as advices have been received,
and it has just come in time to save the
grain crop in some districts. The accounts of tne cotton crop are satisfac¬
on
The Monsoon has burst 10 days to a fortnight earlier thau usual.
So long as prices keep at or about their
present level, we are likely to receive
moderate supplies of Dhollera by
railway, as the extension of the B. B. & C. I.
Railway to W udwan has opened up a large district, the produce of which
came formerly only
by sea. Stocks estimated roughly at 120,000 to 125,000,
or rather more than the
average of former years. No estimates of the pro*
bable stocks remaining in the districts have reached
us.
The general opinion
is that a coheiderably
larger quantity is held than last year. Rain appears
to have fallen pretty
generally over the country, hut preparations for the next
crop have scarcely commenced. Excepting from the Wudwan and Scholapore districts we are not likely to have receipts in any quantity till after the
Monsoon
tory.
the prospects have greatly improved, and n fuir
In the Berars the dry weather was taken full ad¬
vantage of for weeding, and the plants look very healthy. There has been
a marked increase in the area of land sown with
American seed the product
of which, last year, had a very fine staple. In Broach
the rainfall has been a
full average, and the cotton
crop is promising and well advanced. In Dhollera
the weather has been generally favorable, and if it continues so a full
average
crop maybe expected. B. S.—August 29. Nearly nine iuclies of rain fell
June 19th.—Stock is now estima ed at
150,000, and it not expected to
increase further. Total rain-fall to date 13
inches.
Advices from Dhollera
are to the effect that little
cotton is left in the
shipping ports, but that
about three-eights of the crop
remains in the districts. The most of this is in
“Kalu,” or unpicked, from the shell. Dhollera cotton keeps better over tht
rains in this State than when
ginned, hut it will cause a delay in sending
forward, as ginning operations cannot commence till the Monsoon is over.
We would nor, therefore, look for free
supplies from Dhollera till December
or January; but
Bhowwigger and some of the other ports further down the
Gulf of Cambay may send cotton earlier. It is
thought that perhaps 15,000
to 20,000 bales are left iii the
outlying villages in the Berars, and there is
considerable quantity in the N zam’s dominions, of which no
probably a
estimate can be obtained.
A correspondent writes from Dharwar that the
stock left above Ghaut is about
25,DUO candies, and there is very little at
Campta and noneat Carwar; as less than usual of the crop was forwarded
before the Monsoon, we think the
quantity is somewhat underestimated.
July 3rd.—We have
accounts
no
regarding the preparations for the
yesterday.
September 11—In the week ending 30th August thirty inches of rain were
guaged in Bombay, and the total is now up to the average. The last week
has been fluo and the Monsoon is considered
practically over. The rainfall
throughout this side of India has been generally satisfactory and all accounts
speak favorably of harvest prospects. In the southern districts, however, the
fall came too late for some of the grain crop, and
consequently in Dharwar it
is anticipated that a considerable increased area will be devoted to cottou—
one estimate given
to us says 35 per cent over last year. Cotton sowing in
these districts commenced about the end of August
and is now progressing.
The Hingunghaut and Oomrawutty crops will be rather
late, but Broach will
be earlier than last season; very favorable accounts of the
appeuranee of the
plants iu Hingunghaut have come to baud this week.
September 25—The accounts generally are favorable. In the central pro¬
vinces, the Berars and Khandei-h the plants are in full fiower and everything
new
crop, excepting from the Hingunghaut and Oomrawutty districts.
In the
former it is thought
unlikely that any Increased area will be devoted to cotton,
as the prices
ruling now are so much lower than of late years. From Oomra¬
wutty our correspondent writes that he believes more land than ever is
being
prepared for cotton. Stocks of grain are abundant there; and cotton, with
an
average season, gives so much better results that there is
every induce¬
ment for the Ryots to give it a
preference. A correspondent in Dhollera writes
that in Dhollera aud tko
surrounding districts the stock is estimated at 20,000
candies against 7.000 last year.
Premises districts,Referring to rain remarks in our last on the regarding the
hanvar well.
the want of our
beginning to tell issue cotton fields;
was
much of the seed
early having failed in germinating. We learn, however,
by telegraph that rain has since fallen generally, but it is
pretty certain that
the crop will be much later than in tne last two seasons.
From Guzerat and
Kattywur accounts continue satisfactory.
October 11—The rainy season appears to be over, and the fall has been
gen¬
erally a full average, and the accounts of the cotton and grain crops are favor¬
able. In Khaudeish, some heavy showers about the end of
September did
some injury to cotton, by
knocking off early flowers, but the subsequent fine
weuther has repaired the injury. Iu the Hingunghaut aud
Oomrawutty dis¬
tricts the plants are in full fiower, and pods are forming. In Broach the
plants are well forward, and it is expected new cotton will be ready nearly a
nmnth earlier than usual. From Dhollera we are advised that the
plants are
in
July 17—The firmer feeling is attributed to a telegram'said to be’received
from the New York Cotton
Exchange, to the effect that the crop will be two
to four weeks late in
consequence of the unprecedented wet weather, and it is
feared the result will be the abandonment of a
large portion of planted
acreage, thus reducing the quantity to last year. Stocks are
diminishing.
The weather 1ms been seasonable in
Bombay, and we are informed that the
rainfall up country has been
satisfactory. Sowing is progressing everywhere,
and all reports agree in
stating that there is no expectation of any decrease in
the area of land to be devoted to cotton.
July 31—Stock in Bombay reduced to 60,000 or 70,000 hales. The rainfall in
Bombay is below the average so far this month. The news from the up
country is, on the whole, satisfactory, and although the rainfall has been
rather deficient in some places
no,complaints are being made by the Ryots.
In the districts whence
Oomrawutty is received the young plants are pro¬
gressing favorably. The Government report of land under cultivation in
Broach not yet completed, hut its
thought the acreage put under cotton is
about the same as last year. The cultivators there are
very particular in keep¬
ing a regular rotation of crops, and the arable land being about equally divided
between cotton and grain there is seldom much
change in the area devoted to
the former.
And even at lower prices than those now
current, cotton is the
best paying crop. Last year’s
crop proved to be about twelve per cent, above
an average, and the increase was
entirely owing to the verjr favorable ripening
season.
It is too early to ofler
any opinion regarding the growing crop. It is
later than usual, but the state of the weather in
January and February has
more to do with the
quantity and quality of the Broach crop thau at any other
in the Dhollera
season,
districts the rains have been favorable for
preparing
the land, and sowing is now
progressing. The stock of old cotton held in the
districts this Monsoon is estimated at 290,000 bales.
August 14.—The rainfall in Bombay has been very scanty, and the total for
past fortnight does not amount to two inches. From all the districts in this
Presi dency, except the Broach portion of
Guzorat, complaints of want oi rain
are
being received. So far, however, no injury is reported to the cotton
plants, but in mauy placesjthe grain crops are withering, and unless rain Bets
-1865.Ceu't.
January
..
165,703
February
March
April
..
146.834
May
October
November
December
Total
850
..
..
..
..
..
..
18,106
11,987
18,471
27,045
45,444
913,587
V.,..
Grand total....
10,070
5,092
Jaue
Jaiy... •»
Augnet
September
2,818
8,229
1,080
„.i,.
9i0
806
....
2,920
6,357
-1857.Con’t.
G. Brit.
74,104
1,849
97.799
5.012
151,458
155,049
211,578
132,013
75,174
65,379
20,864
25,572
18,826
8,409
14,169
19,331
15,599
7,190
630
2,430
excellent condition.
more
»-y
231,111
60,055
16,533
29,660
17,783
19,922
and to be
a
will be earlier than
was
anticipated.
now
The
full average.
-1869.
12,169
14,201
56,436
36,146
7,116
134,151
-1870,
13,807
17,611
36,709
40,918
41,534
12,275
8,199
83.353
178,219
218,551
113,888
63,504
38,869
1.177
4,138
30,429
3,981
76,150 1,036.315
142,324
967,706
178,806
1,178,639
crop
EUROPE FOR THE PAST EfKJHT YEARS.
G. Brit. Con’t.
V
.
1874—January 3-Stock here estimated from 25,000 to 30,009 hales.
42,454
'
v
November 22—Rain fell in most up-country districts, hut no
damage has
been done. In the Broach, Dhollera and Dharwar districts the cotton
crops
are said to he in a flourishing condition.
December 6—In Guzerat the out turn is expected to be ten
per cent, over
an average, and there is a small increase in the
acreage under cotton. From
Dhollera accounts continue favorable.
49,496
v
that
crops, and pre¬
these are
The Broach crop is expected to be a month earlier than last year,
completed.
1,729
1,138,396
the effect
paring for their winter sowing, and will not pick much cotton till
17,619
13,896
1,371
Ajsual.
expected that the Oomrawutty
1,814
.
to
are
low prices rnling will not induce the ryots to commence
picking and cleaning
cotton till they have secured their grain
crops. There are rumors of some
damage by caterpillars in some districts. Rain has fallen in Dharwar and the
surrounding country, and the young plants are iu a healthy position. In
Broach a fine and full crop is confidently looked for.
Novemher8.—Accounts from the districts continue favorable. Picking has
commenced in Khandeish, and a good deal of cotton is ripe in
Hingunghaut
and the Berars,; but the Ryots are busy harvesting theirgrain
4,736
5,218
850
than
302
100
34,435
W.
134,462
159,067
183,887
Our latest Dharwar advices
October 25—The favorable weather continues in all districts, and it is
37,773
.
39,162 1,062,246
952,749
-1868.—
Con’t.
G. Brit.
65,476
68.863
sown
timely rain has enabled the ryots to complete sowing, but the crops will be
late. It is thought that twenty-five
per cent, more land than last year has been
devoted to cotton in the Hoobiee and Gudduck districts, but it will
depend on
the weather during the next three or four months whether the out turn will
be
MONTHLY SHIPMENTS FROM BOMBAY FOR
G. Brit.
In Hingunghaut
average crop is expected.
564
y
1,146,512
'
•1871.-
G. Brit.
Con’t.
G. Brit.
Con’t.
35,610
32,315
56,774
8,153
18,091
58,294
33,188
51.610
11,177
18,365
36,768
78,031
55,622
70,405
31,213
8,667
3,857
4,669
6,406
14.831
112.733
41,196
39,296
108,700
141,469
6,048 151,270
8,566 4 69,941
1,661
51,211
226,196
176,857
72,704
61,594
15,661
22,866
18,363
33.811
613
—V*
38 978
28,158
165,168
■
13,092
4,339
4,705
9,309
864,394
V“”
40,319
798,513
■■■
'
■
1,029,564
42,471
340,011
y
1,138,524
-1872.Con’t.
19.016
102,330
—1878.-
G. Brit.
75,754
G. Brit. Con't.
32.H82
19,780
16,786
81,785
47,857
94.5yl
62,70 5
99,672
110,801
35,545
41,991
131,971
92,002
40,046
103,931
83,255
47,443
80,467
93,126
84,688
11,421
21,644
21,625
14,553
7,000
14,105
8,352
5,267
2,355
2,398
7,000
14.506
4 101
5.365
17,000
10,000
30.139
18,776
670,168
260,693
25,432
32,529
15,505
10,756
1
—<
14,379
1,501
2,993
735,326
226,557
V
y
930,861
961,882
—/
\
THE
181
I
[February 21, 1874
CHRONICLE.
Percent.
Per cent.
Cateet glonctarn
EXCHANGE AT LONDON,
RATES OP
Nemo
anil Commercial Cnglial)
AND ON LONDON
Open-market rates:
30 and 60 days1
nnntha' bills
3 months’ Hilla
count
EXCHANGE AT LONDON—
EXCHANGE ON LONDON.
FEBRUARY 6.
LATEST
RATE.
TIME.
ON—
TIME.
RATE.
DATE.
bills........ 3%@3%
XOiRU
3%@3%
allowed by the joint stock
deposits are:
houses for
il.17tf@ll.1S*!
short.
3 months. 25.55
Antwerp
Hamburg
short.
3 months.
Paris
Paris.
Vienna
Berlin
Frankfort
....
@25.60
@20.54
@25 30
20.48
25.20
|
25.5?%@25.62%;
11.55 @11.60 .(
6.24%@ 6.25%
H9%@ii9% 1
•52
St. Petersburg
Cadiz
@
....
4*%@19%
•
•
«
A
«
•
•
•
60 days.
Calcutta
•
•
6.21%
lltftf
short.
....
....
# *
.
•
•
•
•
io%
10%
1 10X&1
1 lUtf @1
4 3
....
Penang
Singapore ....
Alexandria....
t-ydney
11*37
....
it
•
•
4 3
•
•
....
•
•
•
-
1 p. c.
....
•
dis.
I From our own
under
*
•
.
.
•
•
.
.
Feb.
Jan.
Dec.
Dec.
Dec.
Dec.
Dec.
Feb.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
6.
24.
31.
16.
16.
30.
22.
...
at the
Bank
rate,
5.
3U.
29.
28.
GO
90
Paris..
Amsterdam
Hamburg.
Berlin
Frankfort
Vienna and Trieste....
2f>%
26%
49%
....
45
•
•
•
•
•
•
26%
•
•
6 mos.
....
....
....
7.
5.
28.
$4 84X per £.
...
3 mos.
51
Is. 11 ytd.
.
i£.
liyBd.
is. 3\d.
58. It<Xd
51 %
61%
97%
....
correspondent, I
London, Saturday,
Annexed is
a
Bank
Open
cent, per cent.
5
4%
4
3%
2%
4
2%
3% 2%
5
5
6
6
7
6%
Open
market
per cent per cent.
6
6%
4
3%
rate,
St.
Petersburg..
Brussels
Turin. Florence
and
4%
5%
8*
Rome
6
Antwerp
4
Bremen
4%
| Genoa
statement showing the present
4
5
Leipzig
Lisbon and Oporto....
days.
days.
2%@....
leading Continental cities are
market,
....
.
Per cent.
2%@....
2%@. ..
2%@ ...
:
per
•
.
3 mos.
4 i
.
..
Hong Kong...
6.
now as
celona
....
Shanghai
.
.
•
a
Buenos Ayres..
Pernambuco
Montevideo...
Bombay
25.26
20.10
*5 25
Madrid, Cadiz and Bar¬
....
Valparaiso.....
•
11.87
•
^
»
•
•
Feb.
*
90 days.
52% @52% '
Lisbon
3 months. 29.90 @/9.95
Milan
29.90 @29.95
Genoa.
29.90 @29.95
Nanlos
New York
Rio de Janeiro
Bahia
.
fct
short.
3 mos.
short.
Feb. 6.
banks and dis“
Jointstock banks
Discount houses at ca.l
Discount houses with 7 days’notice
Discount houses with 14 days’notice...
The rates of dividend
Amsterdam...
bills
4 @4%
4 @4%
bills
trade bills. 4%@5
The rates of interest
•
LATEST DATES.
AT
4 months’ bank
6 months’ bank
4 and G months*
3%
Bank rate
4%
position of the Bank
England, the Bank rate of discount, the price of Consols,
quotation for English Wheat, the price of Middling
Upland Cotton, of No. 40 Mule Yarn fair second quality ,
and the Bankers’ Clearing House return compared with the
four preceding years :
1870.
1871.
1872.
1873.
1874.
Circulation, including
£
A
£
£
£
bank post bills
23,259,687 24.217/492 25.404,791 25.666.335 26,396,375
Public deposits
7,377,812 6,4/1,837 7,421,083 11,778,526 6,081,109
Other deposits
18,792,791 18.369,371 20,121,769 17.474,569 17.709,293
Government securities. 14,331.314 12.915,011
13,99».444 13,287,688 13.897,455
Other securities
18.371,578 17,220,239 17,718,624 19,324,896 16.981.323
of
the average
Reserve
Feb. 7,1874.
general election has naturally absorbed a great deal of
attention, and has interfered with the general course of business.
Up 10 the present time the result has been greatly adverse to ihe
Liberal party, and it is difficult to see how Mr. Gladstone can con¬
tinue in power with the small majority he can now expect when
he admitted that a majority of 66 was insufficient for his purpose.
The
of notes and
11,848,788
13,320,098 14,177,199 15,066,828
11,293,259
both departments.... 19,631,438
3 p. c.
Bank rate
Consols....
92%d.
Price of wheat.
’ 42s. 2d.
Mid. Upland cotton
ll%d.
..
No.40 mule yarn fair 2d
21,782,833 24,180.249 25,361,058
2% P- c.
3 p. c. 3X P- c.
Old.
91tfd
92% d.
52s. lOd.
56s.
56s. 8d.
7tfd.
10 3-16d.
lOd.
22,303,189
coin
Coin
and bullion in
3% P- c.
92d.
63s. 9d,
7 13-16d.
Is: 3%d.
Is Id.
Is. l%d.
quality
Is. 3%d. Is. 3d.
Clearing ^ouBe return. 74,177,000 75,057.000 112,038,000 149,242,000 136.253.000
The features in the bullion market are as stated above, the
Most persons are, therefore, prepared for the resignation of the withdrawal of foreign gold coin for France resulting in an ad¬
ministry, and the return of Mr. Disraeli to power. It is remark¬ vance of -£d. per ounce in the price, and a marked decline in the
able that the programme which Mr. Gladstone published on value of silver. Tiie periodical sa1^ of bills on India was held at
appealing to the country has had so little effect, but Conservatives the Bank of England on Wednesday, and a large falling off in the
contend that the surplus exists, and that their party is equally in demand for the means of remittance to the East was indicated.
favor of economy and the reduction of taxation as their oppon¬ The reduced amount of £500,000 was allotted, of which £440,000
ents.
They contend, also, and obviously with great reason, that was to Calcutta, and £60,000 to Bombay. The minimum was
the favorable stete of the finances is due not to the acts of the fixed at Is lOd the rupee. Tenders on Calcutta at Is I0$d will
ministry, but to the general prosperity of the country, which has receive about 76 per cant, and on Bombay at that price in ful^
been almost unchecked from the period when they acceeded to On the last occasion tenders on Calcutta at Is ll^d received 93
power. It is still, of course, possible that when the elections per cent. There being less demand for the means of remittance
have been completed, the government will still have a majority, the silver market has naturally become quieter, and the price of
and that Mr. Disraeli may refuse to govern.
In that case, some fine bars has declined from 59| to 58$ and 58|d per ounce. Mexi¬
difficulty may arise for the position of prime minister would can dollars have fallen from 58d to 57£d per ounce. The follow¬
seem to be, in both cases, an unenviable
one. Mr. Gladstone, ing prices of bullion are from the circular of Messrs. Pixley &
though having a majority, would be unable to count upon his Abell:
GOLD.
S. d.
8. d
supporters as Mr. Disraeli could upon bis. The Conservatives are
per oz. standard. 77 9 @ ...
Bar Gold
a more compact body, and as a result of this, Mr. Disraeli, even in
Bar Gold, fine..
;.... peroz standard, 77 9 @ ....
Bar Gold, Reflnable
peroz. standard. 77 11 @ ....
a minority, would indicate a higher
degree of strength than can South American Doubloons
peroz. 73 9 @74 0
small majority of his opponents.
of the low point to which the French exchange
had fallen, there has been a continuance of the withdrawals of
foreign gold coin from Fi ance The Bank of England has raised its
price £d. per ounce. This movement and a slight advance in the
exchauge during the last three days have checked the demand,
and recently the operations have been unimoortant.
There hag
been no demand for gold for export, but the money market has,
nevertheless, assumed a firmer tone, and at one period it was
thought that an advance in the Bank rate would take place. Ihe
official minimum remains, however, at
per cent, but in the
be shown
by
a
United States Gold Coin
open market there
the lowest change
has been a
per oz. none
@
here
....
SILVER.
In consequeuce
s.
Bar Silver, Fine
Bar Silver, containing
bine Cake Silver
Mexican Dollars
Five Franc Pieces
per
oz.standard. 4 11
standard. 4 11%
5 grs. Gold...... per oz.
...
per
d.
8.
@
@
d.
....
....
'
no price
@ ••••
peroz. 4 9%
oz..none here
@ ....
.peroz.
quiet, and a
prevailed. Dividends of three prominent railway
companies have been announced this week, that of the Midland
Railway Company being at the rate of 6£ per cent against 7^ per
per cent; of the Lancashire and Yorkshire, 7 percent, against
per ceDt
hardening of the quotations, and Northern for the corresponding period of 1872 ; and the Great
On the Stock
dull
Exchange business has been very
tone has
Railway Company, at the rate of 8^ per cent. The dis
The bank return,
appointment caused has been great, and the value of the stocks
which has been published duriDg the week, shows, to a large
has declined considerably.
Other British railway securities have
extent, the increased requirements of the community in con¬
nection with the elections. The payment of the taxes has also participated in the flatness, but not to the same extent. Amongst
foreign government securities the chief movements have been
been somewhat heavy, but in consequence of the increase in the
circulation of notes, and the reduction in the supply of gold, in- Turkish, Egyptian, aud Peruvian, all of which have been
caused by the foreign demand, the falling off in the reserve is depiessed. In Turkish there has been a heavy fall, caused by some
as much as £1,432,622.
Its proportion, therefore, to the liabilities irregularity in the payment of matured Treasury bills; Egyptian,
of the establishment has declined from 49 to 46$ per cent; but Peruvian, an l Spanish Government bonds have declined in heavy
sales, but French, Italian, Russian and United States descriptions
an improvement may be speedily anticipated, as the recent home
have been firm, with a favorable tendency.
Erie shares were
demand for notes ha? been of a purely temporary character. The
dull in the early part of the week, but have since improved,
trade demand for money has been very moderate, and the supply
while Illinois Central shares have experienced a marked improve¬
of commercial bills afloat is believed to be considerably below the
ment.
Other American railroad bonds have been firm, and th0
average.
The quotations are now as under ;
is
now
3f@3£ per cent.
THE
February 21, i874.1
against $7,929,642 last week, and $5,883,972 the previous week.
The exports are $4,345,950 this week, against $6,219,713 last
week, and $5,672,206 the previous week. The exports of cotton
quotations have somewhat improved. The closing prices of con¬
sols and the principal American securities this afternoon are sub
joined:
United States 6 per cent 5-20 bonds, ex 4-0
do
,
1*'8%@108%
1865 issue
1867 issue,...
5 per cent. 10-40 bonds, ex 4-0
5 per cent Funded Loan, 1871, ex
do
do
the past week were 11,658 bales, against 10,058 bales last week.
The following are the imports at New York for week ending
92 @ 92%
105%@105%
Consols
(for dry goods) Feb. 12, and for the week ending (for general
108%@108%
105 @105%
.
merchandise) Feb. 13:
FORRION IMPORTS AT KBW YORK FOR THK WEIS.
do *
4-0
102%@102%
Atlantic and Qt West., 8 per cent. Debent’s, Bischoffsheim’s ctfs.. 43 @ 48
Ditto Consolidated Bonds, 7 per cent., Bischoffsheim’s certificates 28 @ 30
Ditto 1st Mortgage, 7 per cent bonds
67 @ 68
Ditto 2d Mortgage, 7 per cent bonds
51 @52
Ditto 3d Mortgage
24%@ 25%
Erie Shares, ex 4-0
4444%
do preferred
Ditto6 per cent. Convertible
Ditto 7 per cent Consolidated
Bonds
Mortgage Bonds
40
ex
1873.
1874.
$2,864,556
$5,095,845
$3,959,113
6,2b8,523
4,912,590
Total for the week..
$7,005,U7
$7,319,239
$11,364,368
$8,871,703
33,211,704
46.990,599
48,615,013
33,575,239
$40,216,851
$54,309,938
$59,979,381
$42,446,942
Since Jan. 1
In
93
101
95
96
@95
@102
@96
38
report of the dry goods trade will be found
our
theimportsof
@42
Feb. 17:
BXPORTS FROM NSW YORK FOR THB WEEK.
@98
97 @98
4-0
4,454,783
4,441,556
dry goods for one week later.
s
The following is a statement of the exports (exclusive of specie)
from the port of New York to foreign ports, for the week ending
@ 45
Pennsylvania Gen. Mort. 6 perct. bds, 1910
bonds,
1872.
$2,663,591
Previously reported....
96 @ 97
100 @102
Illinois and St. Louis Bridge, 1st mort
Louisiana 6 per cent. Levee Bonds
Massachusetts 5 per cent, sterling bds, 1900
New Jersey United Canal and Rail bds
New York Central $100 shares
Panama Gen. Mort. 7 per cent, bonds, 1897
ner cent,
1871.
Dry goods
3eneral merchandise...
68%@ 69%
9k (<31 98
96%@ 97%
Dlinois Central Shares, $100 pd., ex 4-0
Virsinia 6
135
CHRONICLE.
1873.
1874.
$4,658,414
$4 089.230
$5,641,326
$4,345,950
30,-349,677
28,423,001
28,380,931
32.673,408
1872.
1871.
For the week
Enviously reported..
.
Stephenson, late Secretary of Lloyds, and Mr. F. A.
Since Jan. 1
$32,512,231
$34,022,257
$37,019,358
$35,008,091
Pincopp, late of the London Bank of Commerce, have been en¬
The following will show the exportB of specie from the port of
trusted by Mr. Watson, the President of the Erie Railway Com¬
New York for the week ending Feb. 14, 1874, and since the
pany, with the interests of the line in this country.
beginning of the year, with a comparison for the corresponding
Business in the corn market has been quiet. The weather has date in previous years :
continued mild, but dry, and millers have been indisposed to Feb. 11.Str. Calabria
..Liverpool
Silver bars
$213,652
Feb. 12 Str. Thuringia
London
36,557
Silver bars
Paris
Silver bars
in excess of their more immediate wants. The transac¬
22,300
purchase
Silver
Aspinwall
2,000
tions recorded during the week have been at prices ruling some¬ Feb. 14.Str. Colon
Gold
1,000
what in favor of buyers, to the extent, say, of Is. per quarter. A Feb. 14. Str. Hermann
....London
Gold coin
53,000
Feb. 14 Str.
Silver bars
78 467
marked increase in our importations is anticipated in the course Feb. 14.Str. City of NewYork.Liv* rpool
Oceanic......... Liverpool
Silver bars
742,319
Mr. B. L.
“
“
“
..
.
.
of
a
month.
following were the average prices of English wheat, barley
and oats, in England and Wales, for last week, compared with
the four previous years:
1871.
Wheat
63
9
56
0
52 10
1870.
s. d.
42 8
Barley
47
7
40 3
38 2
35 4
35 7
..28
2
22
22
23 11
20
1874.
s
d.
Oats
1872.
s. d.
1873.
s. d.
56
8
0
6
s.
d.
following return shows the imports and exports of grain
into and from the United Kingdom since harvest, viz., from Sept.
1 to the close of last week, compared with the corresponding
periods in the three preceding years:
8,508,125
Previously reported
Total since Jan.
Same time in—
1873.....
1872
1871
1870
The
4
The
$1,149,797
Total for the week
The
boeD
1, 1871
$9,804 904
1,775,043
5,481,227
4,350,860
Wheat
CWt. 19.663.151
Barley
3 826 027
3,912,269
Oats
Peas
Beans
22,683,661
8.116,570
4,321,443
653,640
1,128.887
10,186,898
3,036,769
380.553
'.
2,294, >32
7 003,501
2,684,505
Indian Com
Flour
20,093,411
4,921,237
3,966,287
430,805
1,628,824
8.714,580
1,497,118
....Aspinwall
1,784,618
9,586
1,179,882
7,670,006
2,048,872
EXPORTS
Wheat
cwt.
*
1,458,417
Barley
49,409
5.280
26.786
4,011
732
13,838
11,016
55,163
Oats,....Peas
Beans
Indian Corn
Floor
116,058
7,517
841
76,969
82,196
21.879
58,682
4,791
1,512
18,315
33.168
414,746
28,884
4,891
35,345
525,594
showing the number of bales of cotton imported, ex
ported, forwarded from ports t.<* inland towns and returned 10
ports, during the month of January, 1874 :
Return
Imports.
Description.
American
Brazilian
East Indian
Egyptian
...
Exports.
240.260
14,686
1,907
42,228
town*.
Forwarded
from in¬
land towns
to
ports.
240
4,246
640
25
15
80
37
62,246
401,140
45,986
26,837
3,185
48,361
Miscellaneous
Total
Forwarded
from ports
to inland
275,270
797
16I,S32
33,869
quantities of cotton imported and exported at the
various porta of the United Kingdom during the week ended
the 5th of February, 1874 :
Return of the
Amer.
Brazil.
E. Ind.
Egypt. Miscel.
$100
648.346
Gold
Vera Cruz
silver
Gold
100,462
Savanilla
Porto Plata
Feb, 13 Str. Cleopatra
Gold
419
560
240
“
“
Feb. 13.Str. Etna..
Feb. 14.Str. Tybee
,
“
“
Silver
Gold....
$750,127
Total for the week
14,626.457
8,690.620
4,008.637
390,282
668,802
3,765,901
follows:
Feb. 9.^3tr. Colon
1870-71.
1871-72.
$5,139,171
9,657,851
4,035,313
imports of specie at this port during the past week have
as
.
IMPORTS.
1873-74.
1872 73.
$4,657,922
Same time in—
1869
1868.
1867
1866
105,504
Previously reported
Total since Jan. 1,
Same time in—
1873
1872
1871
1870
$855,631
1874
I
Same time in —
$147,242 11869....
252,526 11868
391.498 ! 1867
2.836,973 1
.
$1,730,440
280,987
181,879
Hoyt, 46 Exchange place, is offering the seven per
of the Michigan Central Rail¬
road, as noticed elsewhere in this paper. The bonded debt of the
road, as stated on Jan. 27 last, upo i 285 miles, is including this
issue of bonds, but $8,06b,600. and the fact of having such a
moderate amount of debt outstanding is decidedly favorable to
the negotiation of the new bonds. Messrs. Fabbri&Chauncey, the
old and well-known shipping house of4South street, notify tliejpublic that the firms of Alsop & Co., of Valparaiso, Chili and of Lima ,
Peru, have been dissolved by their own limitation and that the
successors to the house at Valparaiso are Messrs. Kendall & Co.,
with a cash capital of $550,000.
The successors to the house at
Lima are Messrs. Prevo9t & Co., with a cash capital of $500,000,
These changes in the'firm amount to but little beyond the uame
however, as the members are nearly the same as in the old houses,
—A large number of the Chesapeake and Ohio bondholders have
assented to the proposition of the company to fund the past due
—Mr. L. T.
cent
consolidated moitgage bonds
the
first mort¬
coupon, and the three next maturing (four in all) of
gage bonds, into an income bond bearing seven per cent.
est, at 85 per cent.
The company, therefore, announces, as will
Inter¬
elsewhere in our columns, their readiness to issue the
bonds. The New York Guaranty and Indemnity Company
have consented to act as trustees for the bondholders.
It is ex¬
be
seen
new
1,596
' 806 pected that all, or nearly all, of the holders will har monize on
have been issued to this plan, as litigation would bring injury to the road, and dam¬
day. They show that our imports in the month were valued at age the present standing of the securites. There is reason to
£31,274,404, against £27,397,673 last year, and £30,570,748 in 1872; believe, too, that with forbearance on the part of the creditors
the road will so increase in running capacity as to become a pay¬
while the declared value of our exports in the same period was
ing property.
£19,472,467, against £20,298,547 and £18,879,980 in the two pre¬
—The sale of the Nassau Dry Dock at the city of Nassau, New
ceding years.
Providence, Bahamas, together with the houses and grounds will
This important sale should
A prospectus has been issued of the Light Cable Telegraph b* made at auction, March 5, 1874.
command the earnest attention of ship-owners, underwriters and
Company (Atlantic line), with a capital of £380,000 in £10 sharescapitalists generally. The dock is said to have superior capa¬
It is proposed to submerge the line by the way of the Azores, and bilities for the business for which it was intended, and ample
it is proposed to charge Is per word for the transmission of mes¬
grounds adjoin, with good dwelling houses thereon for the use
of the proprietor and superintendent.
The trip to Nassau by the,
sages.
*
steamer City of Merida, sailing from Pier No. 3 North River,
on Thursday, the 26th instant, and a short stay there to attend
COMVlfcJRClAL AND MKWLLANKOUS NCWS.
this sale, ought to be very enjoyable in itself. The advertisement
will be found on page 4.
Imports and Exports for tub Week.—The imports this
—We call attention to the small lot of Elizabeth City funded
weekshow an increase in dry goods and a decrease in general
merchandise. The tot.al imports amount to*f8,871,703 this week debt bonds ($185,000), offered for sale by Mr. Aaron Q, Crape,
Imported
bales. 27,017
14,343
Exported
2,670
491
The Board of Trade returns for January
l?,6l0
9,301
9.745
79
.
No. 93 Cedar street.
The growth of the city of
Elizabeth has pretty well “stocked up” during the past few weeks. Very choice
short date paper is negotiated ax 5 per cent., while 5|@6 per cent,
is a fair quotation for prime commercial paper in general.
The great element of uncertainty which now hangs over the
financial markets, attracting the utmost interest from every branch
of business, is in regard to the course of financial legislation at
been extraordinary, and as a suburban place its railroad facilities
and social advantages promise for it a still more prosperous
future.
Miles of well lighted and well kept streets, lined with
where a few years
Mr. Aaron G. Crane
makes a specialty of Elizabeth city and Union county, N. J., Washington;
As each week passes the debates find votes in
bonds, and buys and sells all securities dealt in at the New York Congress are watched with great care, and the probable result of
the pending deliberations is canvassed as a matter of the greatest
Stock Exchange.
This week it is generally considered that the pros¬
—Wo invite the attention of readers of The Chronicle to the importance.
pects of inflation are less; though it is complained that the
card, which will be found in another column, of the well-known
bouse of Woodward and Stillman, Cotton Factors and General injury to business interests is very great, in having the question
Commission Merchants, No. 74 and 76 Wall street (Seamen’s kept so long in abeyance, and the community still ignorant
whether or not they are to have a further increase of currency.
Bank Building), New York.
Messrs. Woodward & Stillman make The circumstance that the volume of
outstanding legal tenders
liberal advances upon consignments of cotton, and they make a
has not materially increased for some time past, lias only added
specialty of buying and selling contracts for future delivery. to the
existing doubts, for while the new greenbacks were being
This firm has long been identified with, and occupy a leading
put out in large amounts daily, the issue of the whole $44,000,000
position in the cotton trade.
was considered a foregone conclusion ;
but now there are a few
who suppose that the issue may go no further, and even think
uum m FINANCIAL.
that those already put out. may gradually be withdrawn. How¬
ever the matter may result, it is the ardent hope of business men
BANKING HOUSE OF FISK & HATCH,
that the prevailing uncertainty may not continue much longer.
No. 5 Nassau Street.
Cable advices from London, on Thursday, reported that the
Bank of England gained during the week £273,000, and the mini¬
New York, February 16, 1874.
We buy and sell GOVERNMENT BONDS and GOLD at cur- mum rate of discount remains unchanged, at 3£ per cent.
The total amount of U. S. legal tenders outstanding to-day
rent market rates ; buy Gold Coupons ; buy and sell Stocks and
was $381,329,527.
Bonds at the Stock Exchange on Commission for cash: receive
The last statement of the city Clearing House banks on Febru¬
Deposits, and allow interest at the rate of Four per cent; make ary 14 showed a decrease in legal tender reserve, the excess above
the 25 per cent requirement being $23,917,725 against $25,557,950
Collections, and transact a general Banking and Financial
the previous week.
business.
rows
of substantial
since
'
[FeWy 21, 18 74.
THE CHRONICLE
186
there
was
dwellings
may now
be
seen
nothing but open fields.
The
<-
We also deal in the CENTRAL FACIFIC and WESTERN
PACIFIC GOLD
BONDS, which, at present prices, are
and
also
are
following table shows tlie changes from previous week
comparison with 1873 and 1872 :
1874.
Feb. 14.
,
veiy
Feb. 7.
desirable for investment.
We
a
Loans ana die.
Specie
$277,237,100 $278,217,000 Inc.
Circulation....
PER CENT LAND BONDS at 85 and accrued interest.
The
33,220 700
26,903,800
Net deposits..
Legal tenders.
selling the CENTRAL PACIFIC GOLD SIX
1873.
Feb, 15.
,
Differences.
1872.
Feb. 17.
$979,000 $291,520,700 $284,911,300
239,958,800
30,687,200 Dec.
26,895,000 Dec.
239,670,700 Dec.
2,533.500
8.200
288,100
59,052.900
59.S72.100Inc.
819,200
16,461,000
19.589,400
27,539,800
28.149,200
214,613,400 217.697,200
42,718,300
45,620.300
earnings of tlie Central Pacific Railroad reached last year
United State* Bond*.—Government securities have been active
$14,000,000, and its business is constantly increasing.
during most of the week under a continued strong investment
The continued scarcity of Government Bonds, with steadily demand.
To-day, however, there was a partial re action in prices,
which have advanced so steadily and so rapidly during the past
advancing prices, is increasing the demand for the best class of few weeks that some
temporary re-action in prices is almost sure
failroad securities, and their relative advantage for interest paying to take
place. In addition to the home demand there have been
some considerable purchases for
investment, at current market prices.
London, and except for the ad¬
vance which follows every
FISK & HATCH.
inquiry for any large amount, of the
leading popular issues of five-twenties, the bonds taken for
THE ILLINOIS CENTRAL RAILROAD COMPANY
foreign account might have been much larger. The market still
lies an appearance of continued strength at the advanced prices
offers par and a PREMIUM OF ONE PER CENT (101 per cent),
with accrued interest, lor any of its Construction Mortgage Bonds already established.
Closing prices daily have been as follows:
presented for prepayment prior to July 1, 1874, at its office in
Feb. Feb.
Feb. Fob. Feb. Fob.
New York.
The outstanding
about*$3,000,000.
balance of its Construction Mortgage Debt is
These Bonds mature April 1st, 1875.
RAILROAD BONDS.—Whether you wish to BUY or SELL
write to
HASSLE 11 & CO., No. 7 Wall utreet. N. Y.
CON Tit ACT S
COTTON
Bought and sold for
a
Commission.
Advances made on Consignments,
R. M. WATERS & CO. 56 Broad st
Int. period.
5a, funded, 1881, ..coup
Quarterly.
6s, 1881
reg. .Jan. & July.
6s, 1881
coup..Jan. & July.
6s, 5 20’s, 1862
coup..May & Nov.
6s, 5-20’s, 1864
coup..May & Nov.
6a, 5-20’g, 1865
coup..May & Nov.
6s,5-20’s,1865 new,coup.. Jan. & July.
6s, 5-20’s, 1867
coup..Jan. & July.
6s, 5-20’s, 1868
coup..Jan. & July.
5s,10 40's
reg..Mar. & Sept.
5s, 10-40’s
coup..Mar. & Sept.
6s Currency
reg..Jan. & July
*
L. W. HAMILTON & CO., Stock Brokers, 48 Broad street. New York,
have just published a wry interesting hook, entitled “How Fortunes are
Made in Wall Street,” which they will in ail free to any address.
All
Interested in stock speculations should call or send for a copy.
Valentine Tnmbridge & Co., Bankers and Brokers, 30 Wall street, New
York, negotiate Puts or Calls on stocks costing $50 for 50 shares, $100 for 100
shares (30 days), at the following rates from the present market price of stocks:
PUTS.
February 10. 1874.
Re
Lock Island
<’eutral and'Hudson
Lake Shore
West. Pnion Telegraph.
New Jersey Central
Wabash
Northwest
fci. Paul common
ow
1
I
1
CALLS.
Above
2%
2
2
1
1
3
1%
1
1
1
3
31$
2%
PITTS.
Thirty-two page explanatory pamphlet mailed
oil) c
Hankers’
on
Above
1^
3
3%
3
3
3%
1
application.
<B>a?ette.
DIVIDENDS*.
The following Dividends have been declared daring the
past week
Per
'Cent.
Company.
CAULS.
Below
Ohio and Mississippi.... I
Puion Pacific
%
C., C. & I. C
1
Pacilic Mail
2
Hannibal & St. Joseph. 1
Erie
2
Gold
%
For 1 per cent in cash.
When
P’able.
:
Books Closed.
Railroads,
Chic. & Alton fpref. & com.)
Chic., Burl. & Quincy
Salem & Lowell
Vermont Valley
---
.
-.
5
$1
6
Mch. 10 Feb. 21 to Mch. 11
Mch. 16 Feb. 25 to Mch. 20
Feb. 161
Feb. 11!
—
Tlie Money Market
and
Fkiday. February 20, 1874—6 P. M.
Financial Situation.
The
regular rates for money on call to bankers and dealers in govern¬
ment bonds are now 3@4 per cent., and to stock borrowers
gen¬
erally 4@5 per cent. Tlie slight differences in the bank state¬
ment from week to week have no
perceptible effect on the market,
as the
surplus above tlie required reserve is too large for these
temporary variations to have any influence. In commercial paper
the volume of business has been somewhat less, as rates are now
low, and the banks and other leading purchasers have become
14
1
16.
*113% 113%
120
113%
1203;
120%
120%
*120^
*117,'.;
119%
120
119
120J
119%
*112
120%
118
120
*117%
119%
120%
119%
120%
119%
18.
114
19.
121
121
20.
*114% 114%
120% 120% 120%
120% 120% 121
117% *118% *118%
120% 120% 120%
121%
119% *119% 119%
120% 120% 120%
120% 120
120
*119% *119% *119% 120
*112
112)8 112% *112% *112%
126%
*115% *115# 115% 115% 116
116% 110% *116% 11
110% 116%
This is tbeprice bid, no sale was made at the Board.
bonds Tennessee
sharply selling at
afterwards. The
prospect,that interest will be paid on the funded bonds on the 1st
of July next, as declared by the financial authorities of the State,
lias given a growing strengtli to these securities for some time
past. The great inconvenience of States funding their bonds or
carrying out other financial measures away from New York has
lately been brought to our notice in the circumstance that a con¬
siderable lot of new Tennessee funded bonds were inadvertently
sent to this sity without having the seal of tlie State put on them,
and it was necessary to send them all tlie way back to Nashville
to have the defect remedied.
Georgia bonds are in demand from
parties within the State. Louisiana, after passing the scaling
bill, makes some talk of giving a deferred certificate for the 40
per cent of bonds cut down, payable without interest in five to
State
and
Bond*.—In
Railroad
State
have been the chief feature and have advanced
the .first Board to day at 87f, and quoted higher
ten years.
Railroad bonds continue in
good demand for tlie old issues, and
generally firm. As the increased demand gradually
carries up the prices of old bonds at the Board the inquiry for
new loans and for the miscellaneous list of bonds dealt in through
brokers’ hands only, will naturally grow larger.
Closing prices daily,and the range since Jan. l,have been:
prices
are
Feb. Feb.
17.
16.
•86
S6
85%
85
85% *86
14.
flsTenn., old
68 Tenn., new
68 N. Car., old
6s N. Car., new...
6s Virg., old
do
consolid.
do
deferred.
c
6sS.C., J. & J....
6g Missouri
Cent. Pac., gold..
Un. Pac., 1st
do
L’d Gr’t
do
Income.
Erie 1st M. 7s
N. J. Cen. 1st 7s..
Ft Wayne 1st 7s.
•
*17
*37
•51
*11%
•9%
-93%
96%
86%
82%
83%
103
82%
83%
103
105
•103%
•104% •105
BocKlBldlst7s... 104%
•
*
This is the price
r.%
9%
*9
94
••
Feb.
19.
87
Feb.
20.
•86%
*86%
*87
*io
*19
•36
51
87%
94 ¥
96%
86
•f2
50%
*11%
*9
94%
96%
85%
•36%
•50%
*11%
*9%
95
96%
35%
82%
82%
S3%
82%
*102% *102% *102%
*105
*105
105
u\
9%
95
*9fi%
85%
*81%
*
r
,
104%
....
....
*105
-
f
16
40
50
11
9
Jan.
6
9
Feb. 17
Jan.
9
Jan. 7
Jan.
90% Jan.
92% Jan.
81% Jan.
75% Jan.
73% Jan.
2
3
2
3
18
42
Jan. 24
Jan. 30
53% Jan. 27
11% Feb. 13
11
95
Jan. 12
Feb. 19
96% Jan. 14
86% Feb. 9
101
81
103
•
T
,
Since Jan. 1.
Lowest.
Highest.
J an.
79
8 87% Feb. 20
79
Jan.
9 85* Feb. 16
,
28% Jan. 20 29% Jan. 24
•
50
•n%
S6
•
*18
*37
50%
•96%
•
Feb.
18.
87
•is
Feb
*
*
103% 103%
bid* go sale was made at the Board.
Jan.
Feb. 12
Feb. 12
Feb. 6
Jan. 6
Jan. 21
101
Jan,
6 104% Feb-10
«
83
64
5 103
102% Feb. 3 107
104
Jan. 27 105
miscellaneous Stock*.—The stock market
generally shows a slight advance on the closing prices of last
week. There has been no great activity in the market, aud the
interest of all operators has been concentrated upon the extraor¬
dinary frauds which were perpetrated on the Stock Exchange
by forged letters on Tuesday, the 18th.
At the Second Board,
the presiding officer received a letter addressed to the Vice-Presi¬
dent of the Stock Exchange, and bearing the head lines of the
Toledo, Wabash and Western Railway Co., and the signature of
Jacob D. Cox, president of the company. “This letter gave the
30 days’notice* of an intended issue of $10,000,000 new share
capital, and specified the uses to which the proceeds of the sales
Railroad
Wabash stock at the time was
selling at 51f, and immediately fell to 49U On sending to the
New York office of the compauy, the letter was pronounced a
forgery. Before this was detected, another letter was received, ad¬
dressed to the Vice-President of the Stock Exchange by name, and
bore the signature of Mr. Orton, the President of the Western Union
Telegraph Company, and stated that the directors had decided to
issue $9,000,0U0 of stock, or make the share capital $50,000,1)00,
and that with the proceeds of this stock, and $7,000,000 more,
which the company owned, and would sell, it was the intention to
make extensions aud improvements.
Immediately the stock,
which was selling at 75f, fell to 72£. Mr. Orton, soon after ap¬
prised,-informed the President of the Stock Exchange that it
was a forgery.
The stock then advanced to 76, but afterwards
fell to and closed at 74J.
The forgers have not yet been dis¬
covered, though ef'ery means will be taken to ferret them out.
To-day the market was comparatively weak.
The daily highest and lowest prices have been as follows:*
Monday,
4.8% 48%
Six 82%
Central ot N.J.
Pacific of Mo..
Dcl.,L.& West
c
C., C. & I...
,
Adams Exp....
American Ex..
United States..
Wells, Fargo
Maryland Coal.
This is
fit e
87
31% 31%
116% 116%
64
77
75%
17%
33
33%
•1
ax
10. V 107 V
111% 112
84
76%
76% 77%
17 V
17V 18
33% 33%
39
39
3 (%
39
8%
s%
6%
41%
18
18
83
33
89
89
39
8%
42%
*8%
42%
72
78
*77
49
98
43 %
98
’*x94
98
42%
*94%
97
64%
*64
64%
*64%
78
78
80
*71%
75
72
SO
*76
79
49
49
49
*77
48 V
price bid and asked
: no
23%
46% 47
73% 73%
91% 91%
2!%
33
33%
2% 2%
106% : 107%
43% 43%
35
31%
43%
*23
*77%
24%
•
•
•
32
]116%
66
*8
42% 42%
97% 97%
*64
*72
•
are as
64%
earnings reported.-
Ronds.
Atlantic tfc Gt. West. 1st week of Feb.
Atlantic & Pacific... 1st week of Feb.
1874.
1873.
$80,162
48% 48%
*22% 24% *22% 24
Bur.,0. Rap.& Minn. 1st week of Feb.
Chic., Danv. & Vin. Month of Jan.
79,326
19,852
53.510
Chic. & Northwest. 2d week of Feb.
215.902
Jan.
366,943
78.080
21,006
47,515
191,109
356,382
Month of Jau.
1st week of Feb.
Month of Jan.
10.014
Clove., Col. Cin. & I. Month
Denver Pacific
Erie...
Illinois Central
of
306,943
$402,364
397,733
82,142
47,515
1,108,865
356,382
$404,501
421,322
128,155
53,510
1,400,533
334,453
330,976
1,797,103
1,657,481
611,491
602,241
611,491
602,241
Jan.
152,122
100,328
152,122
100,328
Kansas Pacific
Month of Jan.
Lake Sh. & Mich. S. 2d week of Feb.
170,349
328,536
150,555
397,352
170,349
150.555
.Marietta & Cin.Month of Jan.
Michigan Central.. 1st week of Feb.
171,028
134,997
170,023
lndianap., Iil. & W., Month of
Milwaukee & St. P.. 2d week of
Mo
Kansas & Tex.. Month of
Mobile & Ohio
'.Month of
Ohio & Mississippi.. Month of
St. Louis & Iron Mt. 1st week of
St. L., Kans. C. & N. 1st week of
St. L., Alton &T. II. 1st week of
do do branches.. Month of
St. L. & Southeast.. Month of
,
Feb.
Jan.
Month
of
122,512
Jan.
293.927
Jan.
205,375
283,005
Feb.
43,343
41,519
19,172
37,071
38,615
45,577
83,126
79.780
97,005
31,583
257.000
Feb.
Feb.
Jan.
Jan.
111,900
Toledo, P.&Warsaw Month of Jan.
Tol., Wab. & West. 1st week of Feb.
West Wisconsin
2,157,837 2,201,339
170,023
171,028
782,473
598,410
100,973
200,039
312,848
100,800
96.794
97,126
81,369
Jan.
974,200
257,000
293,927
520,051
200,039
312,848
205,375
200,043
218,850
118,896
38,615
111,9(10
96,794
520,769
81,309
49,880
27,128
2S3,605
183.832
239.433
133,05.3
45,5?7
83,12fi
79,78o
407,2B5
34,583
9 New street,
Lapsley & Bazley, Brokers, 74 Broadway and
quote stock privileges, $100 for UK) shares, 30 days; $150 to $200, 60 days (on
Members New York stock Exchange or responsible parties), at the following dis¬
tance from the market.
Puts
below.
Gobl.for % bonus..
W. Union Tel
Pacific Mail
NT. Y. C. A Hud...
Erie
Lake Shore
Northwestern
The Gold
%al j
I @2
1 @2
V®1%
2 do4
1 ©2
1%<&2
Calls
above.
1%@'2%
3 @4
2%«*3%
2 r^.3%
3%ft&5
2%v£3%
S ©4%
Calls
Puts
below.
J
Rock Island
1%(?&2%
Mil. & St. Paul.
I (Sj2
Wabash
Ohio & Mississippi.
V@l%
Union Pacific
V
Han. A St. Joseph. 1 ($2%
above.
3
1
@2
1%(*43
,
3 ($5
8
Market.—There lias been very little change in
general features of the gold market since our last report.
further decided advance has taken place in the premium,
range of
The bull
<&5
2%@l
2%(5>4
..
C.. C. & I. C
Current week
112% 112% 113
112%
Previous week
111% 111% 112% 112%
Jan. 1,1874. to date...110% 110% 113
112%
1,724.352
1,944.356
916,596
1,036,001
$204,491,000
236,511,000
1,120,974
©5
the
No
the
$916,596 $1,036,001
1,251,882
Foreign Exchange —The
Exchange Market has been quiet,
It is generally stated by
brokers that the volume of business done has been quite limited,
but prices are nevertheless kept firm by the indisposition of bank¬
ers to draw freely.
Commercial bills have not been in abundant
supply, and some of the dealers in Exchange express the opinion
that bills have been kept back by the price of cotton being a little
above the views of exporters, and think that a slight decline
would make a large difference in the amount of bills coming for¬
ward.
Brokers, who bought on speculation yesterday, were will¬
ing to sell to-day for what they paid, as the demand was too
moderate to look for profits, and actual business was done below
the nominal rates. We have heard of some purchases of Govern¬
with
prices pretty well maintained.
Nominal quota¬
this week for the London market.
ment bonds
tions
are:
February 13.
days.
3 days.
—
60
London prime bankers’sterling
London good bankers’ do
London prime com. ster do
Paris (bankers)
."
»
4.88 @4 88%
4.87%@4.88
4.81%^4.85
4.81%©4.84%
4.82 ®4.82X
...
@.
.
5.13%@5.13%
5.15 @
5.17%®5.18%
5.18%@5.19%
5.18%@5.19%
5.15
40%®
,
@
41 %®
Hamburg
95%®
96
96% ®
Frankfort
41%®—
95%® 96
71%® 72
Bremen
Prussian thalers...
.
as
•
a
ib
4b
$5:6,000
451,000
420,000
16...
17...
18...
19...
20...
Total
Sub-Treasury.-
Payments.-
-Receipts.
Gold.
Receipts.
kb
Sub^
follows:
Custom
House
Feb. 14...
97
41 %(§>....
96%® 97
72%® 72%
The transactions for the week at the Custom House and
Treasury have been
$578,286
5)7,614
474,245
324,000
630,000
Gold.
Currency.
63
67
00
512,405 52
367,695 88
657,300 10
71
433,755 13
$703,153
689,250 65
682,505 47
491,396) 89
427,258 49
Currency.
$83,544
40
255,527
163,894
1,031,149
205,317
229,178
65
02
27
33
$311,035
10
568,901 11
654,016 89
537,055 C5
63
495,491 08
252,472 73
$2,801,000
$55 135.080 46 $36,590,455 09
$56,384,016 96 $34,298,794 45
Balance. Feb. 13...
Balance. Feb. 20...
New York City Banks,—The following statement shows
the condition of the Associated Banks of New York City for the
week ending at the commencement of business on Feb. 14, 1874:
AMOUNT
Loans and
Discounts.
OF-
Legal
Net
Tenders. Deposits.
Specie.
Capital.
$S,iXX),06X $11,010,06)0 $4,220,800 $2,095,000 $12,866,200
4,994,000
5.6S0.700
580.500 ,2,094,000
2,050.000
2.865.600
8.458.200
8.852,06)0 1.290.100
o,000,000
4.836.900
415.100
1.332.300
6,36)2,’.06)
2,000,000
3.983.700
441,000
1,055,100
5,161,800
1,500,000
Banks.
New York
Manhattan Co
Merchants’
Mechanics’
Jan.l tolatestdate.
1874.
1873.
$87,045
32,702,000
21,277,000
-AVERAGE
78
Balances.——*
Gold.
Currency.
r
$53,331,000 $1,360,257 $1,587,357
50,054,000 1,372,750 1,562,134
58,971,000 1,610,416 1,830,605
48,156,000 2,306,000 2,605,504
.
*76V 77V
•
follows
^
.
35%
76% 77%
17% 17V
32V 32 V
*36
39%
43%
65
72
8
32% 32%
*40% 41%
Total
Clearings.
.
kb
sale was made at the Board.
earnings reported
Latest
*76%
•
48%
23%
49% 49%
*23% 21%
49V
*22% 23%
The latest railroad
*72
*77
*77
so”
*78
43
64%
59
75% 75%
107% 107%
*95
61%
72% 72%
72
78
81
58 V
6V
61V
*■3%
48V
>2%
51% 51%
*116
65 V *63
75
3.i
*....
S2
117
64%
17%
133
79
42
41%
ing.
Saturday, Feb. 14. ..112% 112% 112% 112%
16
..112% 112% 113
Monday,
112%
Tuesday,
“ 17 .-112X 112% 112% 112%
Wednesday, “ 18.. ..112% 112% 112% 112%
Thursday,
“ 19., ..112% 112% 112% 112%
2J
..112% 112% 112% 112%
Friday,
104% 101%
111V:
35% 35%
32
32%
•
est.
Swiss....
Amsterdam
Feb. 20
87
32% 33%
<6
33
8%
51% 52%
58% 59%
•5V 75 V
107V 107V
46% 47%
73% 74
91% 91%
65”
!3%
*9%
42 V
82%
63%
76%
63
72 V
34%
'34
39
82%
....
111% 111V
87
87%
81W 32%
40V 41
37% 35%
31% 31%
•
116%
40
35 V
40
107%
....
89%
31V
35%
31V 32%
116%
*64%
Cons. Coal
87%
31%
40
64
107
1! IX 111%
116
3%
43%
"97
..
45
37%
31
40
2%
43
pref.
Mariposa L&M
Pacific Mail....
31%
107%
92
92
20% 21
32 V 33%
2
1%
101% 105
133% 131
48% 48%
est.
Antwerp...
Feb. 19.
73% 73%
33%
2
2X
107
107%
43% 43%
31
40
.
do
92%
110% 11IV
86 V 88 V
31 % 31V
85 % 8614
Han. A S*. Jos.
31X 31X
40 V
do
pref. *40
Union Pacific..
35% 35X
Col. Chic.& I.C.
32X 32%
Panama......
116% 116%
St. L. & I. M... *65% 68
76 % 77X
West, tin. Tel.
'Atl. A Pac. Tel
18% *3%
34
40
13
*91 %
21
22
2
107
43*^
82%
52X
58%
75%
107 V
4. %
13 %
92%
21%
46
73 x
Feb. 18.
104% 10IV
132
134%
48% 18%
81X 82%
50 V 51;^
58% 50%
75% <5%
107% 107%
46% 46%
48%
57%
75%
107%
47%
■16%
72%
01X
21X
33%
2
IX
127% 107 X
43-V 43%
11IX 112%
Quicksilver....
4 3%
75
107
31
31
52%
5%
75 \
10SX
5 8%
92%
21X 21X
Ohio A Miss...
48%
80%
5!%
Ml ><
Pac.,pref.
133
132
...
Post., H. & E..
Feb. 17.
101
101%
130% 182%
ing.
Friday,
Tuesday. Wednesday, Thursday,
Feb. 16.
16)4% HU V
Saturday,
Feb. 11.
104% 10
Harlem
130 % : 33 %
Erie
48% 4SX
Lake Shore....
82% sax
Wabash.
52% 53 X
Northwest
5'% P9 X
do
hi }£ 76 %
pref.
Rock Island
108
10IX
Si. Paul
17% •17 X
do
nrcf....
73% 73X
N.Y.Cen.&H.R.
Mich. Central.
•Quotations.
Open¬ Low- High¬ Clos¬
and
of tliis stock would be devoted.
At.&
187
THE CftEONICL*.
February 21, 1374.]
Union
America
Phoenix
City
Tradesmen’s
Fulton
Chemical
Merchants’ Exch’ge.
3,000,000
1,800,000
1,000,000
1,000.000
600,000
300,000
1,235,000
2,496 200
886.800
751.100
1.620.100
419.600
913,06)0
234.500
199.600
817.100
1.390 000
459.300
469,000
S.436 200
988.700
492.100
3,938,200
519.300
7.646.100
800,000
600,000
Broadway
2,402,86)0
21,100
990,46)0
3.377.800
1,000.000
422,700
2,000,000
450,000
412,500
1.000,000
1.000,000
5(0,000
Republic
Chatham
People’s
North America
Hanover
Irving
Metropolitan
1,000,600
406,010
1,000,000
1,000,060
1,000,000
1,000,600
1,000,000
2,HOC ,0(0
300,000
400,000
1,500,000
Citizens
Nassau,....
Market
St. Nicholas
Shoe and Leather..
Corn Exchange
Continental
Oriental
Marine
Importers’* Trad’rs
2,0tK),000
1.209.300
4.590.800
11,999,703
19,599,100
6.123.500
3,763.690
2,067,200
4.801.900
2.910.600
1.464.900
2.729.100
4,083,700
2,583,060
10,491.000
1.510.500
2.242.400
8.26)0,66)0
2,55 .’,700
3,976,000
2.731.600
2,667.3 )0
1,510,000
2,249,000
: 4,482,800
15,0! 4,390
300,000
1,506',CGG
5 >C,' 00
1,000,000
500,000
1,000,060
250,000
26)0,000
2,000,000
1,000,000
1.374.100
2,045,200
1,154,000
875,500
5,333,76)0
2.322.400
460.700
461.2(H)
191.300
343,26)0
6,300
206.100
-
213,000
105.200
912.500
53,6X0
716,000
1.489.000
1,3*8,0 JO
86,900
40,000
275.500
116.800
52.200
71.600
277,000
5,600
327,590
2!M),0C0
825.400
431.500
803.300
507,000
807,(TO
168.400
149.300
3
8,96)0
2,060.06)0
400,000
a50,ooo
500,000
5,OK',000
2,000,000
053,500
19.000
17 500
962,800
2.496.600
747,,00
777.600
1,757.400
73.700
4,800
1.137.300
20,037.200
5,487,06)0
!,713,6)06i
7.519.300
4,380,6)00
4.991.100
1J32.000
2.223.390
587.500
16)6,6)6))
I,:i3 900
1.137.300
241,200
872.800
717,26)0
500,000
429.600
II 6,76)0
469.100
367,306)
47.700
866,06H)
971.200
800.000
.
398.700
49,200
1.95i,000
600,000
500,000
2,000,000
5,000,000
10,000,000
1,000,000
Mercantile
Pacific
N.Y.National Exch..
Tenth National
Boweiy National...
New York Co. Nat.
German American.
2,365,500
200,000
Greenwich
Leather Manuf
Seventh Ward
State of N. York..
American Exch’ge.
Commerce
....
8.73! ,76X4
4,206,200
6.435.300
3.352.800
1.893.600
1,500,000
Gallatin, National..
Butchers’&Drovers’
Mechanics* Traders
Park
Mech. Bank’g Asso.
Grocers’
North River
East River
Mauufact’rs’* Mer.
Fourth National....
Central National...
Second National....
Ninth National
First National
Third National
'
11.600
1,900
869.300
22,000
440,000
1,356,700
761,790
25,46)0
221,200
2 200
25.06)0
393,'00
406,66)0
4.658.900
6.775.900
825.6)00
206.300
196.100
236,06)0
215,900
4,166.800
2,065,000
412.6)00
1,803.700
450,200
2,189.500
299,090
96,96)0
810,0(0
263,0(0
1.247.300
239,6'JO
8,6H3,*6)0
3.773.200
5,173,26)0
2,012.500
Circula¬
tion.
$850,000
9,700
363.300
512,010
481.300
1,200
507.300
759,96X?
1.890,86)0
7,23),500
2.921.100
2.330.200
1,726) 76)0
1.462.100
912,500
2,962,4)'0
1*01,2)0
4.418.700
8,513,(00
7.367.700
4.252.200
3,037,200
1.977.100
8,8*4,300
3,097,100
1.236.700
2.172,600
3,677,500
2,656,000
8,631,000
1,373,000
2.121.200
2.136.300
1,296,1)00
2,787,7) K)
1.538.900
1.485.300
1.211.100
1.998.300
16,081,600
19,218,400
1,053,6)6)0
633,000
961,200
623.100
,943,600
16,448,700
4,40).000
413,800
48",400
24;,300
195,700
2,700
25*.200
165,400
551.900
907,500
3,077,* 00
b92,200
415,b00
847,600
129,300
5,56)0
291,909
172.700
1,172,6)00
130,100
8,900
371.600
786.700
788.600
5,<00
571,40C
4,100
360.000
431.900
934.900
303.700
202,000
871,700
2.841,600
1,376,6X0
265,06*0
568,700
812,500
782,200
267,1(0
8 75,06)0
972,0C0
904.100
179,86 0
1,399,0(’0
7,711,800
5,761.100
6,067,6(0
977.100
5.208.300
225.000
1,775,66)0
37,< 00
the week having been within a limit of # per cent. Dry Goods
clique, if such exists, has not made any further move¬
Total
$32,370,200 $278,217,6)00 $30,6*7.200 4 59,372,100 $239,670,700 $26,895,600
ments, and the course of legislation at Washington has not been
The deviations from the returns of previous week are aa
sufficiently decided to warrant any action based upon it. To-day
the market was dull and steady. Cash gold has still been in good follows:
$258,10
supply, and on loans the rates paid for carrying were 4, 3-^, 2 and Loans
Tnc. $973,900 NctDenoslts. ............I>ec.
Lee.
8,209
3 per cent.
Dec. 2.533,56)0 Circulation.,
Customs receipts of the week amount to $2,804,000. Specie
Inc.
819,26X1
The following table will show the epuyge of the golci premium Legal Tenders
each day of the past week;
The following are the totals for ft series of weeks past:
Specie.
Loans.
Sept .20...
Dec. 6...
D*c, 13
Dec. 20...
Dec. 27...
Jan. 3....
Jan. 10...
Jan. 17...
Jan. 24...
Jan. 31
Feb. 7....
Feb. 14
..
,
..
18,844,600
21,158,600
22.319,500
21,987,900
2:7,514,3' *0
278.421.700
252.373 500
254,520,600
257,191,900
258,094,500
261.135.400
265,640,000
268,496,500
267. 11,100
269.'(97.800
277.217, !0J
...
Legal
Tenders.
34,307,900
38.214,000
42,060,600
41,567,700
44,664,000
28.395.600
46.458. (00
82,679,100
50.926,600
55,418,500
57,->83,300
34,31 (.000
34.739,100
3 (.312.100
3 (,2 -’0,700
30,687,200
278,211,000
58.877,700
59,052,900
59,872,100
Boiton Banka.—Below we
National Banks, as
Circu¬
r
lation.
Deposits.
182,015,300
190,054,200
194.116.500
654,392,910
419,72',753
361,517.913
458,750,825
27.186.300
27,169,300
520,048,970
492.701.287
422,936, .892
429.952,935
27,093,800
27 ,<'24,700
26,8.^8.800
26,903,800
469,999.819
26,895.600
tlie Boston
of
give a statement
returned to the Clearing House on
Monday.
1750,000
Atlantic
1,500,000
1,500,000
1,000.000
Atlas
Biaekstone....
B »dton
....
jylston.
11,577.200
3.135.200
3.872.500
2.226 100
1.595.500
Everett
200.000
Faneull Hall
Freeman’s
Hlobr
HirrLton
Howard
Market
Massachusetts
Maverick
1,000,000
300,000
10,000
37.000
3,000
1,510 300
81.500
2,34 .lOU
1.535.800
1.895,310
1.215.100
8.412.400
91.500
800,000
400,000
8,000,000
2.867.700
3,715,1UC
3.3U3.000
1.494.100
1.823.700
4.060,800
5.012.200
1,431.3cU
5.116.800
3.282.800
831.800
35.900
80,1.10
43,000
860.300
2.633.200
2.489.300
2,918.5(0
956, UM
172.100
165,900
Increase.
Specie
Decrease.
Legal Tenders
Decrease.
following
Date.
are
216.100
2.410,2110
12.542.300
122,343,W0
124,297,100
124,882,400
121,924.900
125,049.400
Jan. 20
Teb 2
Eeb 10
2.466.500
3.513.800
4,401,600
4,213,300
4,5u0,500
125,276,800
126,899.100
Jau.lJ
•’an.!1)
2.453.500
2,612,900
2.567.700
2.387.700
2.459.700
4.244.500
3.963.800
1,521,500
172.100
764.200
769.900
341,20(1
563.400
498.200
692.600
738.7JO
172 700
6s 7,900
579.300
659.700
736.300
172.600
749.100
576.90(1
765.1(10
792.000
448.900
337,390
786.900
792.100
715 000
180.010
543.700
491.000
3'It .000
149.700
117.OOC
904.700
567,000
979.100
2.(‘28,900
954 700
2.866,900
707.800
1.009.800
122 600
129.600
242.000
55 600
1.030.600
2.075,300
539.300
456.300
54.900
Monday, Feb. 1G, 1874
$25,539,610
$22,227,80°
Increase $801,900
Decrease.
34,300
Capital.
Bangs.
$1,500,00C
North America
1,000.000
ITartnorsand Mech. 2,000,000
Philadelphia
810,000
800,000
500,000
250,000
250,000
500,000
Commercial
Mechanics’
Bank N. Liberties.
iouthwark
Kensington
..
400,000
Western
Manufacturers’....
1,000,000
Bank of Commerce
Girard
Tradesmen’s.
250,000
1,000.000
Consolidation
City
Commonwealth....
Corn Exchange....
Union
300,000
400,000
300,000
500,000
500,000
200,000
1,000,000
Irst
i
rd
Sixth
Seventn
Eighth....
•Central
Bank of Republic..
45,183.800
45.9bl.200
46.314,300
49,039,600
48,217,(00
49,184,100
25,918,70'
25,816.7(0
25,811.400
25.791,60n
25,815.6'0
49.342.900
50.618.600
25,693.500
25.641.900
25,539,600
300,000
150,009
250.000
275,000
750,000
1,000,000
250,900
25.772.900
53,779,500
iH tlie average con*
for the* week ending
Total net
Specie.
$75,000
Loans.
$5.422,'HX1
4.642,000
.
5,949.100
2.503,000
2.017,000
2,60s.000
1.26I.H00
1.063,052
1.151,600
1,971.034
2,340.000
770,119
3,653,000
1,401,000
1,175,819
1.573,64 4
830,936
2,180,000
1,673.000
3,964.000
1,(29 122
593.000
497.000
963.000
4,104.000
2.061,000
629,000
843.700
22,01)0
72,ICO
66.000
15.000
7.3,310
5,719
10,000
22,000
1,750
2,227
16,6*8
L. Tender
*1,560,000
1,730(0
1,836,6 JO
707,000
323,000
6! 0.000
5:50,000
22 ',(» 0
371,1:75
475,765
330,000
.
Deposits.Clrculat’n.
14,100.000
$1,000,000
1,101,000
795.000
5.406.700
1.000,000
1,762,000
625,000
1.077,000
403,0(0
2,307,000
456,000
1,203.010
211,(100
6'7 852
889.299
2,200.576
1.318,763
617.453
241.309
3.3(4.W0
1.152,000*
1,491,000
459,000
259,471
828.485
371.637
1 (22,068
131,701
9.' 6,000
551,981
2,269,( W
419 000
1.468.000
1,799,000
845,060
4,005.000
988,877
502.000
261.000
734.000
35.066
111,(XX)
121,000
235,000
1,001.000
3,52!,(XU
1,930
585,000
98,000
1,073.000
356.000
10,300
16,000
57,000
4,0(0
2,000
....
217 815
IC9 f*. o
214 6^5
531.512
211,0 5
590,000
16.3.000
270,000
349,109
209,210
450.0( 0
845.00;'
796.0('0
26I.f,S2
185,(00
213.350
216,000
587.' 00
SOO.Ot'U
ISO,COO
«9S4,014 *17,427.90? $47,835,350 $11,469,468
$16,435,000 $53,037,506
XOtal
The deviations from the returns of previous week are as follows :
Inc. $403.7:33 J Deposits
Loans
Inc.
$644
Specie
Doc., 185,053 } Circulation
Inc.
21,346
Dec.
65,181 1
Legal Tender Notes
The following are the totals for a series of weeks past
Loa'<s.
Date.
Lee.
D e
Dec.
Dec.
Jan
Jan
Jan.
Jan.
Eeb
Feb.
Feb.
8
15
22
29
5
...
..
...
...
..
...
..
...
..
12
19...
25
2
9
16
...
..
..
...
59.817,093
58,254.221
59.0C7.671
53.ics.410
57,735,908
57.',62 364
56.995.818
57.111.'26
57,7*2,523
57.116,587
57 659.780
57.ro 4.854
57.170.c73
57.6*43.778
53,(’37,506
Specie. LegalTender.
12. .18 119
203,58'
205.780
VI,608,988
'271.973
13,179.110
12,432.254
258,965
15.247.520
908,971
976.401
15,173.449
15,244.607
997,073
•J34.669
14.919.13t
19,353.571
! ,17?. <96
15.820.746
1.399,219
16,291 226
1.141,002
1.129.756
16,958,299
1.(02.109
1 ,’.69,097
17.530,254
17.493,0V9
9Si,(M4
17,427,903
65"
80
Deposits
45,039 892
44.697,137
44.363.277
43,018.525
45,773,155
Cironlatlcn
11.454,648
45,418,806
11,440,927
11,476.7%
11.473,810
11.500,121
11,49,',827
11,438 34'
46.403.280
4 3,37-',304
11.190.-38
11.-BH 55«
47,596.336
11,454.750
11,46! 1.732
11,457.749
11.450.353
45.505.506
47.860.947
47,761,664
45,618,063
47:834,7' 6
47,836,350
ll,448,lv2
11,469,463
13951
06*
(07*
do
140* ‘
t6fc
•
147
*76
148
78
70
Hampshire)....
124
Manchester A Lawrence
Northern of New Hampshire.. 108
127
Norwich * W orcester
Ogdens. A L. Champlain
do
do
pref..
Old Colony
Port., Saco A Portsmouth
127*
Ih'k
120
HO*
121*
9
45
55
47"
79
79*
Ex-dlvldend.
PHILADELPHIA.
■TATS AND OITY
BONDS.
99
Pennsylvania 5s, coup
do
6s,’67, 5-10,1st... 101
.06
l'8
do
do
10-15,2d...
108
104
do
do
15-25. 3d
100* uo*
Philadelphia 6s, cl l
103
.
104*
6s, new
do
Alleghany
75
County,5s,coup...
Alleghany City 6s
Pittsburg 5s
do
6s
do
7s
New Jersey State
Delaware State
6s
73*
03
10U
99
6s, Exempts
10S*
RAILROAD STOCKS.
Camden A Atlantic
do
do
pref
Catawlssa
33*
17
42*
pref...,
do
25
Elmira* Williamsport
Elmira* Williamsport pref..
Harrlsb’g, Lancaster
U-.
Lehigh Valley..,.
Little Schuylkill
iS*
6U
46 A'
51
55
57
88
46
17
57*
River.
Penns/ivanla
5!*
22*
37*
f5
Nesquehonlng Valley
51*
51*
Mlnehlll
Norristown
Northern Central
North Pennsylvania
OUOreex * Allegheny
12
17*
59*
46*
..
pref.
do
do
55*
22
Philadelphia * Erie
Philadelphia & Reading
Philadelphia A Trenton
Phlla., wilming. A Baltimore
United N. J. Companies
West Chester
39*
47
18
123* 724
do
pref
West Jersev
CANAL STOCKS.
Chesapeake* Delaware
Delaware
46
Union
do
48
46*
Division
Lehigh Navigation
*
Morris
do pref
Pennsylvania
Schuylkill Navigation
do
pref.
Susquehanna
46*
50
122
...
6*
.12*
.
RAILROAD BONDS.
92
Belvldere Delaware.lst m.C.’TT 94
do
do
2d M.,’85 83
do
do
3d M.,’87 88
Camden * Amboy, 6s, ’75
! ‘97*
88*
do
do
6 s,’83
86
do
do
6s,’89
do
do mort. 6s,’89... »3*
do
consol., 6s, ’94...
Oam. * Atlan. 1st m, 7s. g. 1903 i6i
do
2dm, 7s.’80.. 97*
l'J0
Catawlssa, 1st M. conv.,’82
’88
do
chat. m. do
101
do
new 7s. 1900
85
Connecting 6s 1900-1904
Bast Penn. 1st morr.7s, N8... . 102*
Bl. * W’msport, 1st m, 7s. ’80. 97
do
do
5s.... 58
96
Harrisburg 1st mort. 6s, ’83
103*
H. * B. T. 1st mort. 7s, ’90
92
do
2d mort. 7s, *75
do
3dm. cons. *s,’95. 65
97
Ithaca * Athens g. 7s, ’90
Junction 1st mort. 6s, *85 . ...
37"
2d
do
do
1900
100
Lehigh Valley, 6s, 1898
do reg
do
do
do
do
do
7s, 1910
6*
13
Schnylklll.lstM.,7, l«77.
Northern Central 2d m, 6s, ’85
do
do 3d m,6s, 1900 ..|
do
con. m. g. 6s. 1900
North Penn. 1st m, 6s, *85
2d m. 7s, ’96
do
do
108, chat, m.,’77 .
mort. 7s, 1903
Oil Creek * Al. R.f con. 7a. ’88.
Oil Creek 1st m. 7e, ’82
Penn * N. Y. Canal 7s. ’96-1906
gen.
Pennsylvania, 1st M., 6,1880...
do
2d M.,6,1875...
ie"
conv., ’82.
do
g,’94. 100
gold, ’97 97Y
do
do
conv.,
97
MorrlB, 1st M.,6,1876
do
2dM., 1876..
do
boat, ’85
Pennsylvania 6s, 1910
8chuylklll Nav. 1st m. 6s, ’97..
do
2d in., 6s, 1907
do
do
do
m.
98"
:o2*
95
--
67
66
84
74
»3
6s, c..'95..
83
6s, imp.,’30...
6s, boat’* car,1913
•••
87*
do 7b, boat* car,1915
81*
73*
do
acrip
Susquehanna 6s, ’94
do
7s. 7902
Union 1st mort. 6s,’83
75
....
....
Wyoming Valley 1st m. 6s, ”78.
BALTlMOHfi.
Maryland 6s, Jan., A., J. & O..
do
6s, Delence
Baltimore 6s of’75...
....
104*
K>4*
do
1884.
do
6s,190C
do
1890, Park 6s
Baltimore* Ohio 8s of’75
do
do
6sol’80... .
do
do
68 01 ’.85....
do
3d M.6s
Central Ohio, lBt M., 6
Marietta* Cln., 1stM.,7,1891.
do
do
2d M.,7,1896.
Norfolk Water 8s
Northern Cent., 1st M.jfgnar) 6
do
do 2d M.,8.F.,V85.
do
do 3d M., 8. F.,6,1900
do
do Id M. (Y. & C) 6,’77
do
do Cons, (gold) 6,1900
Pitts. A Connellsv.,1st M.,7/98
do
do
lstM., 6,1889
S9*
89*
98
99
88*
»8
99*
99
...
89*
1(0*
-
si*
90
1 l* 102
92* 92*
85
85
95
93"
91
89
98
95
91* 92"
91
Baltimore &
••••
84"
89”
99"
11
40*
CINCINNATI.
75
80
100
Ham.Co.,Ohlo6p.c. longbdB. 82
do
do
7 p.c.,1 to5yrs. 95
do
do
lg bdB, 7 * 7.30s 100
65
Covington * Cln. Bridge ..,.
do
do short, S6
do
do long.. 87
96
Cln., Ham. & D.. 1st M., 7, 80...
do
2d M.,7,-85... 90
do
do
do
3d M., 8,77... 95
Cln,. Ham.* Ind.7s guar .,... 56
75
Cln. & Indiana, 1st M., 7
do
do 2d M.,7,1877.. 72
VS
Colam., * Xenia, 1st M.,7, ’90.
92
Dayton A Mich., 1st M., 7 81..
86
do
do
2d
do
SdM-.T.’SS.. 82
do
do To’do dep. bds, 7, ’8l-’94. 93
90
Dayton * West., 1st M.,7,1905.
do
do
1st M., 6,1905. 75
70
Ind.,Cln.& Laf., 1st M.,7
do
(I.&C ) 1st M.. 7.1888 63
Cincinnati 5s
do
6s
do
7-308
M.,7,’84..1
Little Miami stock.:
LOUISVILLE.
Louisville 6s,’82 to’87
Uo
6s, ’97 to ’98
Water 6s,’87 to’89..
do
do
Water Stock 6s, ’97.
do
do
Wharf 6s
special tax 6s of ’89
Jeff.,<Mad.AI,lstM.(IAM)7, ’87
do 2d M.,7,.
do 1st M.,7,1906....
Lonisv.C. * Lex., 1st M.,7, ’97..
Louis. & Fr’k., 1st M., 6, T(V*78..
do
do
too
60
98
«*
do
Loulsv.Loan,6.’81.
L. «Nasb.lstM. (m.s.) 7,*77..
do Lon. Loan (m.s.16/86-*87
(Leb.Br.) 6/86
do
do
do lstM. (Mem. Br)7,*70-’75
do lstM.(Leb.br.ex)7. ’80-’85
do
92"
90
1.5
Ohio stock
Parkersburg Branch
Central Ohio
preferred.,,
do
6,1883....
Btock....
ColnmbuB & Xenia Btock .... .
93
Dayton & Mi chigan stock ....
do
8p c.st’kguar
94*
...
do
»J*
’77.
do
Little Miami, lBt M.t
Cln. Ham. & Dayton
pref
Alleghany Valley 7 3-lOs, 1896..
Little
9b
RR,’97...
WeBtMd,l8tM.,endorsed.6.’90 91do
1st M., unend.. 6.'90.. SO
97*
do
2d M., endorsed, 6/90. 92
49
51*
Pennsylvania
* C
Huntington* Broad Top.
30*
18*
43*
87*
67*
2d Mort. 1902
do
58
94
57
Rutland common
do
preferred
Vermont A Canada
Vermont A Massachmsetts
•
124*
do
108
80
80
Chesapeake & Dela. 6s, ’8,’...
Delaware Division 6s, ”78
Lehigh Navigation 6s,’84
111* HI*
10* 10*
Fitchburg.
U2
105'
CANAL BONDS.
..
Eastern (New
80'
Phil.* Read. C.AI.Co.deb.7s’92 84*
Phil.. Wllm. «£. Bal., 6s, ’84
69*
Pittb., Cln. A St. Louis 7s
Sunbury A Erie 1st m. 7s. '77.. 99 Y
Sunbury A Lewiston 7s.’90 ..
77"
Warren & F. 1st m. <s, ’96
K'3
West Chester cons. 7s, ’91.....
85
West Jersey 6s, ’83
96*
do
1st m. 6a,’96
7s,’97
'98
6s. p.b.,’9f
Wllmlng.* Read.,1stM.,7,1900
10
103
do
reg...
6a, g., 1971..
do
do
Western Penn. 6s,
do
do
32
30
Concord
/
135* 137*
Connecticut River
78
Connecticut A Passumpslo, pf.
76k 77
Eastern iMass )
East
Deposits, Circulation.
43.907.900
26,162,100
25.749.100
44,381,200
2C.089.W0
43.728.600
44.482,000
26,049 310
44.488.600
25,(92,900
:
102‘
Rutland, new,7
Stansted A Chambly 7s
Verm’tCen., 1st M.rcons.,7/66
2d Mort., 7,1891..
do
Vermont A Can., new, 8
Vermont & Mass., 1st M. 6, ’83.
241.90U
2.452.300
1,021.300
1,948,1UC
509.900
1.C53.3UU
83,400
Philadelphia Banka.—The following
dition of the Philadelphia National Banks
OgdenBburg A Lake Ch. 8s
Old Col. & Newport Bds, 7, ’77.
Chic., Bur. A Quincy
Cln., 9andusky A Clev. stock
807.500
617.500
253,WO
665.600
195.800
164.400
228.500
311.7U0
114.700
402.700
73.900
9,429,200
9,844.800
10,017,600
10.559.300
10,839,700
10,789,000
10,625,800
1<I,679,400
10.466.300
10,293,900
10,691,600
11,039.800
11,244.400
10,909.71*0
98
31*
%
i.
851.600
412 400
1,51 *,700
1.345.300
922, 00
1.333.300
1,074,200
865.800
894,600
910.800
651.400
1.051.900
253.200
145.100
299.400
120.100
283.100
148.000
230.500
528.900
LegalTender.
92 *
443,000
201,200
2,144,000
7.
569.300
5,8.0,100
361.900
Deposits
Circulation
$114,200
Specie.
120,090,700
120,161.800
120.033,300
119,483,400
120,470,500
121,664,600
Dec. 2i
Jan. 5
Sept. 15
Sept. t2
Portland 6s
Cheshlre.fi...
Eastern Mass., 7s
Hartford * Erie, 1st M (new)
99
g.m.7s,c. 1911 102*
do
99
Municipal 7s
Boston A Albany stock
Boston & Lowell stock
Boston & Maine
Boston A Providence
Cheshire preferred
the totals for a series of weeks past:
Loans.
Nov ic....
*ov. 17...
Nov. 21...,
Dec. 1.
Dee. 8
Dec. 15
Dec. 22...,
Sent. 1
Sent. 3
Ss.gold
Chicago Sewerage 7s.....
524.600
851.000
350.900
2S9.30D
$126,899,400 $3,968,800 I10.909.7C0 $53,779,500
The total amount “due to other Banks.” as per statement of Feb. 18,1s
The deviations from last week’s returns are as follows :
^oaus
785,3(0
573.500
775,60(1
116.500
do
do
do
93
87
7s, ’93 101
do
deb. bonds,’93 60
do
do
do
92*
81
85
Philadelphia A Reading 6s, ’80
Massachusetts 6s Gold, 1876... It 8
5s. Gold...
do
Boston 6s, Currency
476.300
967.200
45,200
297,IU0
174.400
346.500
136.600
15.900
•
$49.350~,000
Total
Penn
29*
68
798.400
1,718.100
142,200
45.400
4.715.100
786 8t)0
590 200
452.70U
174.600
829.900
110.700
63.500
14,(OC
5.2.9.200
500,000
500,000
"
122,600
20,000
80.200
2.026,400
500.000
Manufacturers
The
Maine 6s
New Hampshire,
Vermont os.
1,045.900
467,9 10
1.432,8(0
452,u00
981.100
786.400
45,6'0
332.200
100,000
251.800
23 oOC
120,7UC
42.400
72.400
6.185.200
3.008.700
1.809.100
1,000,000
1,000,000
1,000,000
1,500,000
2,000,000
200,000
1,000.000
1,500,000
Commonwealth
Central
155.60G
261.600
68.300
200
1.910.401
2,000,000
1,000,000
1,000,000
1,500,000
Colon
Webster
107,100
12,600
8.831.800
l.imOOO
Security
144,SCO
174.600
171.800
30.500
23.100
59,610
76,800
53,000
2.597.500
1,600 000
300,000
Eagle
Exchange
Hide A Leather
Revere
32 400
3.206.000
2.116.100
600,000
2,000,000
750,000
City
116.710
26.600
420,500
2,850,900
2,000.000
1,500,000
Wtshington
60.800
642.500
200,000
1,000,000
1,000,000
900,000
1,000.000
1,000,000
First
Second (Granite)...
Third
Bank ol' Commerce
B ink of N. America
B’k oi Redemption.
Bi'ik of Republic...
811.500
783.800
20o.4U0
14.600
750,000
New England
North
Old Boston
Shaw.nut
Shoe & Leather
State
S iffolk
Traders
Treinont.
45.7C0
226.700
134.100
96.900
1,000,000
800,000
Mount Vernon
74,000
•$488,700
772,800
781 200
248.8U0
42.100
2.250.2*0
1,000,000
Merchants,
154.100
700
20.000
507.500
2,488.600
2.102,000
2.531.200
706.300
3.222.300
1.6.5.100
Deposlts.Clrc.nl.
$519,300
1,021,700
1,969.000
850,2'!0
$97,200
116.700
$42,800
115.200
198.900
30.800
600.000
200,000
1,000,000
1,000,000
L,000,000
BroadwayColumbian
Continental
JCllot
Soecie. L.T. Notes.
90
do
reg....
Perklomen 1st m.6s,’97
Phlla. A Erie 1st m. 6s, '81
-2d m. 7s. ’88
do
do
BOSTON.
Burlington A Mo. L.
Loans.
Capital
Banks.
Bid. Ask
Pennsylva.,gen. m.1910
100.900
27,156,100
BALTIMORE, &c.
8XCTUBITIXB.
Bid. Ask
•XOUBITIBS.
423.484.SC2
•Lgi 2,373
)
27.125.41)0
232,691.800
233.119,800
239,958,300
239.670.700
QUOTATIONS IN BOSTON. PHILADELPHIA,
Clearings*
27,414,200
27,186,100
27,167.200
193,040.100
19',152,100
205.399,500
219,668,000
231,241,100
Aggregat®
Feb. 16, 1874:
B
[February 21, 1871.
THE CHRONICLE.
188
Lou.L’n(Leb.br.ex)6/98
89
75
HO
40
103
ICO
30
78
r0
79
79
80
69
75
90
78
87
86
98
80
80
95
91
41*
73
83
1C4
85
97
.01
75
9t*
90
1*8
94
100
88*
80
75
83
94
68
65
65
9$
SO
75
S0
91
78
101
44
1(5
101
K
80
81
SO
SO
81
90
76
91
80
88
a7
99
81
81
96
94
81*/ 82*
do Consol. 1st M.,7,1898.... 90
Jefferson., Mad. A Ind
90" Loulsv., Cln. A Lex.,pref
do
common.
do
100*
59
100* Louisville * Nashville
106
ST. LOUIS.
•89
96"
Bt Louis 6s, Long Bonds
■92
do
90* W*
6s, Short do
68
Ao
Water 6s gold
85*
do
do
do
90*
(new) 93
do
99*
Park6s gold ... ....
•02
do
Sewer SpeclalTaxO
87
105
■North Missouri. 1st M. 7s..,
50
do
26 M.7s...
6«"
9*
<lo
SUM. 7s..
79
I Pacific (ol M j ) 1st M. gld....
73
4*
; Kansas Pac-.Oc stock
;'(2*
43*
'Pacific RR of Mo. stock
10!
102
10J
42
91
68
.
...
101*
102
*
Anil Interest
30
5*
44
February 21,1874.1
THE
189
CHRONICLE.
QUOTATIONS OF STOCKS AND BONDS IN NEW YORK.
Government Bonds ana active Railroad Stocks are quoted on a previous page anu Aot repeated* here.
cent
value, whatever the par may be.
Bid. Ask.
SBOURITIKB.
r.
119* 120
119*
’65 119% li9*
5-20s, registered. 1:68
H9/4
State Bonds.
Tennessee 6s, old
do
ex coupon.......
do
do new
do
d ex coupon
do
do new series
Virginia 6s, old
do
do
do
do
do
do'
newbonds
consol, bonds
deferred do
51*
......
do
do
do
do
qo
do
do
do
do
do
do
A & O
do '
toN.C.R. R .1 AJ
do A. & O
do 7 off, J.AJ.
do 7 off, A & *».
Funding Act, 1866.
do
1868.
new bonds. J. & .T.
do
A.&O.
<to
Spec’1 Tax, Class 1
do
do
do
do
do
do
do
-
do
do
do
72
—
do
Class 2
( o
do
Class 3
8 juUi Carolina 6g
do
do
Jan. A July..
do
do
April * Oct..
do
-do Funding Act, 1866
do
do Land C, 1889, J & J
Missouri 6s....
d
Han. & St. Joseph.
do
51*
11*
SO
25
23
26
26
20
19
!U*
iik
10 V
it*
10*
1U*
25
9
12
13
95
95 H
91*
92
Mich. S. A N 1. S. F.7 p.c.... 104
Cleve. & Tol. Sinking Fund .. 101
97
Cleve. & Tol., new bonds
Cleve., P’ville & Ash., old bds. HO
96"
do
do
96
96
)01
96
96
no
i06*
106 H
6s, Canal, 1871....
6s, do
1875...
1877...
6b, do
1878..
6b, do
1876...
5s, do
68, dogldl8S7...
do
do
do
do
do
gou
no
100
100
100
100
112
(Active previously quoted.)
94
Albany A Susqnehanna
Belleville A so. Illinois, pref
Chicago A Alton
do
do
114
pref
Chic. Bur A Quincy
111
Cleve. A Pittsburg, guar..;.
62*
Dubuque
Sioux City
Erie prui
76
Harlem prel.
Illinois Central
Morris A Essex
105k
14 *
2
New Jersey Southern
N. Y., New Haven & Hartford 130
Ohio & Mississippi, prelerred. 62
Pitts., Ft W. A Chic., guar... 9 3*
_ao
do
special
Rensselaer A Saratoga
105k
Rome, Watertown & Ogdens..
8t. Louis, Alton A T. Haute..,
do
do
pref 3
St. L., Kan. C.& Northern pref 31
Toledo, PeorbiA Waisaw..
Toledo. Wab & Western, prel.
94*
112*
ll‘*
67*
67
73
134
1U7
25
16
7
65“
94
106* ’
is"
40
32*
80*
70
18*
96*
96
102
Quincy'A Warsaw, 8s
ICO*
Ill. Grand Trunk
98
97
97
2d Moit...
Olitc. R. island A Pacific
Morris A Essex, 1st Mert
do
2d Mort
do
New Jersey Central, 1st M., n.
do
<lo
2d Mort.
do
conv....
do 2d mort gold 7s
Col. A Hock. V. 1st7s,30.yrs
1st7s.’0 yrs.
do
do
Jo
do
2(1 7s, 20 yrs..
Connecticut Western 1st 7s...
Chic. A Mich. L. Shore
I)es Moines Valley 1st Ss
do
do Land Grant 8s
94
I)an., Urb., Bl. A P. 1st m 7 gld
Detroit, Hillsdale A In. RR.8 s
Detroit A Bay City 8s....
Det., Eel River A 111. 6s.
Det., Lansing A Lake M. stock
do
do
1st m. 8s
do
do
2d in. 8s
Dutchess A Columbia 7s
96*
33
84
Denver Pacific 7s, gold
Denver A Rio Grande 7s, gold
Evansville A Crawfordsv. 7s..
Erie A Pittsburgh 1st 7s
do
2d 7s
do
7s. equip...-*
do
do
do
St. Louis, Jack. A Chic. 1st M.
South Side. L. I, 1st Mort. bds
Morris A Essex, convertible...
do
do
construction.
Winona A St. Peters 1st m
La Crosse A Mil.Ss, 1st M
97
old...
Indianap., Bl. A 'V . 1st 7s, gld.
107
99* 100
.05
do
...
94
91
91
100*
95 X
95
L02
39
107
101
91*
92*
83
80
90
•..
85
...
•
60
do
do
do
do
7s, Lund Gr., gld.
78,
do new, gld
6s,g d, JunADec
6s, do Feb A Aug
7s, 1876, Land Gr.
7s, Leaven. Brch.
Incomes, No. 11..
do
No 16..
do
do
do
do
Stor k
do
Kalamazoo A South II. Ss, guar
.....
92*
....
*
55
•
•
60* *
80
70
88
80
77
75
•
*
■
....
90
90
S5
■
T
-
85
103
*
t
60
75
,
.
.
.
,
.
.
.
.
.
...
....
....
83
S8
....
....
...
95
.
25
20
02
190
10
95
77
Arkansas L°vee bonds 7s
Atchison A P. Pk,6s gold
'
“
“
2a 7s
Southern Minn, construe. Ss.
do
do 7s
St. Jo. AC.B1. st M.,10s
<10
do
8 p. c:
St. Jo. A Den. C.8s,gold,W D.
do
do 3s, gold. E.D
65
62*
85
60
....
65
....
60
to
railroads, 6s
45
60
50
Norfolk 6s..
Petersburg
Richmond
Savannah 7s, old
do
7s, new.....
••••••
Wilmington, N.C.,68gold....
8b gold....
do
KATLROAPS.
Ala. A Chett., lst.M,8b, end..
Ala. ATenn.R,lst Mr. (S....
do
2d M.,7a
Atlantic A Gull consol
25
end. Savami
stock*........
do
do
do
do
do
do
and Darlington
7s...
GeoiglaeB.;..
EastTenn.A Va.6b
end.Tenn
E.Tenn.,VaA Ga.,lst M.,7s..
do
do
stock
Georgia R. R., 7s.
do
stock
Greenville A Col.7s, guar....
do
do
7s, certif..
Macon A Brunswick end. 7s...
do
do
do
Tenn.,lstm.,7s
do consolu.,o
75
71
70
70
of Alabama...
80
86
60
85
75
35
96
92
85
80
Nashville A Chattanooga, 6s...
NorfolkA Petersburg 1st m.,8s
is
do
do
93
88
82
90
85
do 2dmo.,8e
S.C.,lst M.8s. ...
2d M., 8s
Alex., lsts, 6s
3ds, 8s
4ths,8s
do’
90
85
91
2ds, 6s
8
90
Richm’d A Peterb’g 1st m., 7s.
do
do
2d m., 6s.
do
do
3d m., 8s.
80
60
80
Rich.,Fre’ksb’g A Poto.6s....
do
do
do conv. 7s.
Rich, and Danv. 1st cons’d 6s..
do
do
£0
Piedmont 8s...
lsts, 8s
Selma, Rome A D.,lst M., 7s..
South A North Ala, 1st M., 8s.
Southside, Va., 1st mtg. 8s
do
2d m., guart’d 6s...
3d m.,6s
do
100
95
4thm.,8s
do
:5*
25**
95
•
97*
....
.
....
60
60
....
60**
is" 20**
stock
S.Carolina RR. !stM»78(new)
do
do 6s
do
do 7b...... ......
do stock
do
Va. A Tenn. lsts, 6s
2d8,6s
do
3ds 8s
do
West Ala., 8b guar... .....
....
Wilmington and Weldon7s....
do
Ch A Ruth. 1st m.-end
do
do
letM.,88....
PAST DUB COUPONS.
Tennessee State Coupons
Virginia Coupons.
ao
Consol, (oup
60
60
Mobile A Mont.. 8s gold, end..
Mobile A Ohio sterling
...
do
do
do
exetfs.
do
do
8s, interest....
do
do
2 mtg, 8s
do
do
stock...........
N. Orleans A Jacks. 2d M. 8s.
do
do
cert’s.8s.
N.Orleans A OpelouB.lBtM.8s
do
l56"
40
72* *
70
Southwest. KR., Ga., 1st mtg...
•
•
65
65
85
do Income
Montgom.A KufaulalBt 8b,gld
do
Orange and
• • •
92
52
50
68
til
88
90
15
85
73
17
.
A WestP..lst 8s.
do 1st end
40
52
42
64
100
2dm., 8s...
Mississippi &
80
70
50
65
50
70
60
68
70
76
83
83
65
80
10
do
do
consol. M. if
do
do
stock
Charlotte Col. A A.,1st m.,7s
stock......
do
do
Charleston at Savannah 6s, end
Savannah anu Char., 1st in., is.
EastTenn. A
52
50
55
40
50
65
•
Georgia,lBtM.,Ts..v
Cheraw
72
65
85
50
72
62
75
72
75
SO
96
86
85
76
85
62
70
90
72
72
93
60
guaran
Central
i5
si" 94*’
32
do
do
do
do
• ••
consol. 6s
bonds, 7s
10s
no
do
do
do
do
60**
34" 17*
•
8s
Montgomery 8s..
Nashville 6s,old
do
6s, new
New Orleans5b
Northeastern,
30
30
60
25
46
48
30
43
bonds,6s
end.,M. A C.R.R..*
do
65
60
20
—
60
50
53*
.
10$
80"
55*
10
47
bondB, 6s
new
end.by State
55*’
• •
7s,bonds
Montgomery
52*
1
..
Lynchburg
do
...
Oregon A California 7s, gold..
Oswego A Rome 7s, guar......
Peor;a. Pekin A I. 1st m, gold
Pitts Cin. A St. L. 1st 7s......
Port Huron A L M.Ts, gld. end.
do
do
7s, eold....
Peoria A Rock I. 7's. gold
Car Co. stock
Pullman Palace
do bonds, Ss. 1st series
Rockf’d.R I.A St. L. 1st7s,gld
Rome A Watertown Ts
Rome, W. A Ogdensburg 7s...
Rondout A Oswego 7s,gold...
Sioux Citv & Pacific 68
South Pacific 6's,gold
Steubenville A Ind)ana6s
ColnmbuB,Ga.,7s,bonds...
60
7*
....
N. J. Midland lst7s, gold
do
2d 7s
N. Y. A Osw. Mid. 1 bi 7s, gold,
do
2d 7s. conv.
do
West Extension Ts
do
N. Ilaven, Middiet. A W. Ts....
Newburg br’eh 7s, cuar. Erie.
North Pac. 1st in. cold 7 8-10s
do
Land Wan ants.
Omaha A Southwestern RR.S’s
Columbia,8. C., 6s
Memphis A Charleston, 1st is..
do
2d is.,
do
do
do
block.
62* Memphis A Ohio, 10s,
do
6s
do
Memphis A Little K. letM....
62* Mississippi Central, 1st m..7s,
5
...
..
Ga.,7s,bonds
75
60
47
Hi
NO
72*
....
75*
Macon A Western stock.....
Macon and Augusta bonds.. .
do
do
endorsed
do
do
stock....
90
85
....
90*
Augusta,
stock 6s
.
Charleston^. C.,7s,F.L.bds...
Charleston
do
...
Kal..ADcgban AG K.8s,guar
Kal. A White Pigeon 7s
Kansas City A Cameron !0s...
Kan. C., St. Jo. A C. B. sto- k.
do
do
dot-sofl8v5
do
do
do 8s of H98
L. Ont. Shore RR. 1st in. gld 7s
Lake Sup. A Miss. 1st 7’8,gld. 25
Leav., Atcb. A N. W. 7s, guar.
Leav Law. A Gal., stock
25"
do
do
IstM., 10s.
.ouisiana A Mo. Riv. i«t m. 7s 80
Logans., Craw. A S. W. 8s, gld. 45
Michigan Air Line, 8s
Mo.iticello A P. Jervi67s,gold
Montclair 1st 7s, gold
do
7s, income...
40"
Mo., Kan. A Tex a- 7s gold...
Mo. K., Ft., S. A Gulf, stock...
do
do
1st. M, 10s
do
do
2d M.,10s
63
Atlanta, Ga., 7s
do
8s
do
80
40*
CITIBB.
52*
•.
20
Securities.
Southern
no
....
2d 8s
Indianapolis A St. Louis 7s —
Jackson, Lansin A Sag. 8s...
.Tack., N. W.A S.E. 1st in gl s7
K axis as Pac. 78, Extension, gld
Cent. Mi-souri IstM..
Atlantic A Pacific L G. 6s gld
Atchison, Top. A 8. Fe 7b gld.
Atchison & Nebraska 8 p. c....
do
Indianap. A Vincen. 1st 7s.guar
Iowa Falls A Sioux C. 1st ,s...
'02*
miscellaneous List.
95
40
.
...
Grand River Valley 8s
Hous. A Tex. C. 1st 7s g
103* 103*
Lafayette, Bl’n A Miss. 1st M.
Pekin.Lincoln A Decatur IstM
PaciflcR.of Mo. !st6e, gold ’88
do 2d 7s, cur’y, ’91
do
.
....
103
Walklll Valley 1st7s,gold ....
West Wisconsin 7s, gold....
Wisconsin Valley 8s
ao
85*’
8s con
Evansville, T 11 A Chic 7s, gld
European A North Am.6s,gld
Flint A Pere M. Ts, Land Gr.. 87*
Fort W.. Jackson A Sag. 8s...
105* ’
Grand R. A Ind. 7s, gold,guar :tio
f'O
do
do 7s, plain
82*
W. D..
Burl’n Div
67”
uo
2d M..
65
do
Consol. 7s
101
102
New York A N. Haven 6s
Boston, H. A Erie,1st mort. .. 31* 81*
46
do
do
guaranteed 45
74
75
Cedar Falls A Minn. 1st M...
60
Bur., C. l apids A Minn. 7s, girt
93
94*
Am. Doc> A Improve Co
96* 977\
Western Union Telegraph....
Lonw I-land RR 1st M
(io
93
99
iEvansville, Hen. A Nashv.7s..
Elizabethtown A Padu.
St. L.. A St. Joseph,1st,6b, gld
Southern Central of N. Y. 7s..
Tebo A Neosho7B, gold
Union A Logan8port7s
Utah Central 6s, gold
Union Pac., bo.branch,6b, gld
do
do
55"
•
99*
Sandusky, Mans. A Newark 7s
St.Louis, Vandalia A T. H. let
do
do
2d
St.L. A So’eastern 1st 7b,gold
Memphis old
50
99
Bid. Ask
8XOURITIXB.
Macon
95
40
96
90
96
92* 95*‘
Chicago, Bur. A Quincy 7s...
Chic., Danv. A Vinceu 8 7s,gld 50 ^ 54
45
Chic. A Can. South. 1st m gl 7s 40
55
Ch., D. A V., I. div., I m gld 7s 45
89
73* Cleve., Mt.V. A Del. 7s, gold
ICO
Connecticut Valley 7s, gold..
9i"
66
85x
81
.
Chicago. C. A Dub. 8J
95"
10L* *
•
61
do
do
2d Mort.
do
do
do 8 p.c. eqpt.bds 102
95
97*
Cleve. A Pitts., Consol, s. F’d.
99
102
do
do
3d Mort
83
to
do
4tb Mort
Chic. A Alton Sinking Fund,
do
do
1st Mortgage...
100
do
do
Income
93
93*
Ohio & Miss., consol, sink. f...
do
Consolidated.... 92* 92 &
81
82
do
2d
do
Dub A Sioux C., 1st. M
do
do
2d div
Peninsula 1st Mort., conv
94
96
St. L. A Iron Mountain, 1st M
84
do
2d M.
do
1 5* 105*
Mil. A St. Pan i 1st M. 8s P.D.
95
do
do
do 7 s-io do 94
98* e9*
do
do
7s gold R. D
92
do
do 1st Mort. LaC.D 91*
do
do 1st M. I.A M.l). 61* 83
do
do
1st M.l. AD.,
do
do
1st M. I.A I..,
79*
do
do
1st M. H. A D
do
1st M. C. A M. 60
do
81
do
do
2d M
do
Marietta A Cin.. 1st Mort
94"
Chic. A Milwaukee 1st Mort...
11J
Joliet A Chicago, 1st Mort
Chic. A Gt. Eastern, 1st Mort..
do
%
79
New Jersey Southern 1st m 7s
Pitts., Ft. W. A Chic., 1st M....
Col., Chic. A Ind. C., 1st Mort.
do
do
2d Mort
I
—
91
.
•
.
78
—
Quincy A Tol., 1st M., 1890....
ill. A So. Iowa. 1st Mort
Galena A Cnicngo Extended
...
Chic., Dub. A Minn., 8b. .
»Peoria A Hannibal II 8’s. I
Chicago A Iowa R. 8’s....
Central 8s
.j —
American
Chi. A Southwestern Rii. 7’s..
Chesapeake A 0.1st m. gld 6s
92
do
2d Mort
do
Equip. Bds —
do
Cons. Convert
Hannibal A Naples IstM.. ..
Great Western. 1st M., 1888
do
2d M. 1893...
Cin., Lafayette A Chic. 1st M.
Del. A Hudson Canal 1st M ’91
Ballroad Bonds.
N. F. Central 6s, 1883
do
6s 1887
do
6s real estate..
*a. BTJDfWV ip
do
do
7s. 1876
l66"
Del., Lack. A Western, 1st M. 102* 110
do
do
2dM.. 104*
do
do
7s, conv. 103* lC‘4*
95
95*
Tol. A Wab’b, 1st Mort. ext’d
87* 83
do
1st M. St L dlv
290
Mariposa Land A M. Co. pref.
7s, cony, 1876
96
2d M. pref
do
do
do
do
2d M. income.. 73"
Chic. A N. Western S. Fund... 10J
do
Int. Boiuh 98
do
do
do
Consol, hdt 93
do
Extn. Bdi 89
do
100
do
1st Mort
do
do coup gld bds 86*
do
do
do
reg’d
do
:.c. A Ind’s 1st M, 7s, S. r . 102*'
67*
North Missouri 1st mort
Iowa Midland, 1st mort.,8s...
dan. A St. Jo. Land Grants...
do convertible
do
U7* 113
Delaware & Hudson Canal
96*
•
Han. A
275
Pennsylvania Coal
Spring Mountain Coal
do
bds.
Tol.,Peoria A Warsaw, E, D.
miscellaneous Stocks
American Coal
Boston WaterPower
Cumberland Coal andiron
Cent.N. J. Land Improv. Co.
100
H6
96*
95"
Con. 2d in
Pacific It. 78. guart’d by Mo... 96* 98*
Central Pacific gold Bonds.... 96*
105
do
State Aid bds. HS
67*
Western Pacific bonds
Union Pacific 1st M’geBonds. 85* S'’*
do
Land Grant, 7s.. 81* 82
91.s 62
do
Income IDs
Illinois Central 7 p. ct., 1875... 1U2*
Bellev’le & S.llls. R. 1st M. 8’s. 93
99
Alton A T. H,, 1st M
do
*
....
98
Lake Shore Div. bonds
Lake Shore con. coup.bonds,
do
Con. reg. bonds...
do
*
«...
•
..
85**
16
8
92W
Mo., Kansas A T
new
93*
....
llallroad Stocks.
Joliet A Chicago
Long Island
Marietta & Cin., 1st preferred
2d pref
do
do
do
1(J‘J
*
T t
Cent., Consol. 7s, 1902... 96*
do
1st M. 8s, 1882
Chic., Bur. & Q. 8 p. c. lBt M.. HI9*
99
Mich. So. 7 per ct. 2d Mort
.
Michigan 6s, 1878...
do
68,1883...
do
7s, 1878
Nv>w York Bounty, reg
99
..
..
.....
.....
do
dr
div.jg.is.
do
...
do
do
1879
War Loan
do
I ndtana 5s
3d
...
42*
Louisiana68
42
do
do new bonds....
do
do new floating debt,
do
7s, Penitentiary.,
do
6s, levee bonds...
do
8s
do
do
8s
do
1875..
do
Of 1910.
8s
Callfornia7s
do
7b,large bonds..
Connecticut 6s
101
Rhode Island 6r
loo* 102
Alabama 5s, 1883
do
do, ld8S
do
8s. 1S86
do
8s Mont A Euf’la R..
do
8s \lab. & Chat. R
do
6s
of 1593
Arkansas 6s, funded..
do
7b, L. R. & Ft. S. iSB.
do
7s, Memphis & L. R..
do
7s, L.R..P. B.A N.O
do
7s, Miss. O. & R. Riv.
do
7s Ark. Cent R....
85
102
Texas, lCs, of 1876
Onto 6s, 1875
•03*
do 68, 1881
102
do 6a, 1886
102* il5
Kentucky 6s
...
Illinois 6s coupon,’77
2d
do
do
Detroit, Monroe & Tol bonds.
Buffalo & Erie, new bonds
Asylum bonds..
io
do
mort. gold bds..
98* 99
Long Dock Bonds
90
Y. & E. 1st M., 1877....
Bull. N.
103
Hud. R.7s, 2d M. S. F.18S5
105*
102
do
ll3*
7s, 3d Mort., 1875
tiarlem, Con.M. & S’kg F’d 6t HO
10
102
Albany & Susqh’a, 1st bonds .
do
35
35
25
93*
Prices represent the per
separate list.
Bid. Ask
*
....
95
1888
Mich.
42
Georgia 6s
do
78, new bonds
do
78, endorsed
do
7s, Gold..
North Carolina is, old, J. A J.
5th do
7s, cons.
do 78
do
do
87*
68*
87
70
70
36
is,
a
Bur. A Mo. River, stock.
103
110
do
do
Land M. 7s.. 93
99
do
do
2d S., do 7s..
r*o
3d S-. do 8s..
bo
98*'
do
do
4th S.,do 88... 98
no
do
5th S.t do 8s..
98
do
6th 8., do £8.. 98
do
do
do Creston Kraneh 106
103
do
do Chariton Branch 106
108
Bur., C. K. A M. (M.
60
Burl. & M. (in Neb.) 1st conv
99
ICO
Cairo A Fulton 1st 7s, gold..,
90
California A Oregon 6s, gold,
75
S5
California Pac. RK.7’s, gld..
90
do
6s, 2d M., gld 70
Canada Southern 1st 7s, gold
69* 7 5
Central Pac.7s, gold,conv...,
95
do
Land G. 6s g
85
Central of Iowa. 1st M, 7’s gld
45* 60
do
2d M, 7’e, gld
96“ 99"
Keokuk A St. Paul. 8s.... 1 ...
96
99
Carthage A Bn:. 8s .
..
•
96
99
Dixon, Peoria A Han., 8s. ^
O.O. A Fox R. Valley 8s.
99
p 96
Ht'k l6i*
3d do
1883
do 7b, 4tli mortgage 1880
do
quoted in
are
SBOUBITIKB.
.
..
5-208.1 ejisteied, new issue,
5-208, registered, 1867
Bid. Ask.
8KOUBIT1BB.
N. Y. Central 1st mort
reg..
lo
1st mort
coup. 105* 106
Erie lsT Mortgage Extended. 103 ^03*
do 78, 2d do
1874
17. S. Bond*.
(Others quoted previously.)
5-2?s, reg'stered, 1662
Called Bonds, 1862
5-20s, registered, 1SG4
5-2Jb, registered, 1S65
“ iV. Y. Local Securities ”
70
81
62
82
97
92
80
60
64
16
92
85
88
190
THE CHRONICLE
3
it
by former Boards prior to April 1, 1871, $1,182,404 98 ; payments
contracts awarded for street openings, &c., by the present
Board, $1,971,924; total, $3,154,328 93 ; less amount estimated to
be collected on assessment account, $414,835.
Amount of accounts confirmed by the Board of Works from
April 1, 1871, to Jan. 1,1874, $2,584,894 ; amount paid oil contracts
vestments
on
AND
STATE, CITY AND CORPORATION FINANCES.
B3T EXPLANATION OF STOCK AND liON D TABLES.
1. Prices of the most Active Stocks and Bonds are given in the
ers’ Gazette,” previously.
Full quotations of all other securities
.
found on preceding pages.
2. Government Securities,
assessment account not yet confirmed and the same not yet
completed, $1,308,778—total, $3,893,672.
Amount of bonded debt on water account, M*y 1, 1871, $2,061,252; amount January 1, 1874, $4,401,800—increase, $2,340,548.
Receipts from water rents from April 1, 1871, to January 1, 1874,
with balance, $928,834 20; expenses for interest, salaries, &c,,
$817,988 20—surplus, $110,005 94. Total cost of water works,
$4,506,141 56.
Land Grants.—An important decision regarding State tides to
congressional land grants for railioad purposes was lately rendertd by Judge Dillon of the United States Circuit Court of Iowa,
to the effect that while congressional grants confer legal title, it
is only as a strict trust, and that a State cau dispose of such lands
only for the purpose for which they are granted ; while the right
to the lands can only become perfect when a section of twenty
continuous miles has been completed ; and that until such portiou
has been built the State cannot part with the title, nor can its
gramee sell or mortgage such lands in advance of the final per¬
on
“ Bank
will be
with full information in regard to each
the periods of interest payment, size or denomination of bonds, and
numerous other details, are given in the U. S. Debt statement published in
ssue,
The Chronicle on the first of each month
3. City Bond*, and Bank, Insurance, City Bailroad and
Gan Stock*, with quotations, will usually be published the first three
weeks of each month, on the page immediately preceding this.
4. The Complete Tables of State Securities, City Securi¬
!
ties, and Kailroad and Miscellaneous Stocks and Bonds
last Saturday in each month. The publi- j
fourteen pages, requires the issue of a
will be regularly published on the
cation of these tables, occupying
stitched in with
supplement, which is neatly The Chronicle. the usual edition and furnished
to all regular subscribers of
Illinois Assessments and Municipal Bonds.—The law pro
viding lor payment of interest on local railroad aid and other
bonds in Illinois, not having been clearly understood, the follow¬
ing statement by the St. Louis Democrat is of interest*
In 1809 the
[February 21, 1874,
fection of title.
Legislature passed
an act practically setting apart
the increased value of property over the assessment of 1808 in
those counties having railroad debts as a sinking hind for the
Newark
Finances.—Mayor Perry in
a special message to the
Council, states that the debt of the city is
$0,260,917 58, and the assets $7,733,539. The city is nevertheless
Newark Common
payment of those debts. '1 he counties, townships and towns are
required to register the bonds issued to railroads in the office of embarrassed for want of cash to meet maturing liabilities. The
the {State Auditor, so that they might receive the benefits of the
expenses of the schools amounted last year to $187,553 51,leaving
These counties, townships and towns are to pay State taxes an
act.
unexpended balance of $1,979 41. Expended for public im¬
only on the assessment of 1808 ; the taxes on all increase over provements, $739,208 78. Assessments ratified, $1,101,009 03.
that
assessment, and also all taxes on the railroads in them, are
Atlanta and Richmond Air Line.—A meeting
first mortgage bonds of the Atlanta and Richmond
of holders o.
Air Line Rail
way Company was held last week, at the office of Lancaster,
Brown & Co., in Exchange place.
About $3,000,000 of bonds
were represented.
A committee" was appointed to perfect the
steps already taken for the foreclosure off the mortgage and sale
of the road, with power to buy and hold it on account of the first
mortgage bondholders. The committee consists of George II.
Mumford, John II. Fisher, Hiram W. Sibley, B. R. McAlpin,
Alex. P. Irvin, Adrian Iselin, Skipworth
Wilmer, Eugene
Kelly and Lucius Tuckerman. A committee, appointed at a pre¬
vious meeting, has examined the road and equipments, and re¬
ported that, in their opinion, the first issue of bonds fully covered
the value of the mortgage, and that properly managed, the road
would pay interest on its entire cost, wTliicli was $3,000,000 more
than the value covered by the mortgage.
Holders of the first mortgage bonds are notified that the agree¬
ment approved at the last meeting of the bondholders
is ready for
signature at the offices of Messrs Adrian Iselin & Co., and of
Messrs. Lancaster, Brown & Co., New York.
It has been already
signed by the holders of a considerable amount of the bonds.
to the payment of interest on and principal of their railroad
bonds, until the debt shall be liquidated. There was little increase
in the general assessment from 1808 to 1873, and the matter,
therefore, attracted little attention ; but when, in 1873, the gene¬
ral assessment was more than doubled, it was found to be a very
to go
serious piece of business to those counties that have no railroad
debt.
All the taxes on the increased valuation in these unindebted counties go to the support of the State government, while
all the taxes on the increase in the indebted counties go to the
payment of their local debts
;
in other words, all the taxes in the
unindebted counties go to the State, while in the indebted coun¬
ties less than one-half goes to the State.
The assessment of 1808
was about $420,000,000;
that of 1873 is $1,250,000,000; so that
the increase has been $800,000,000, or nearly double the standard
valuation of 1808.
There are 44 counties having railroad debts
to the amount oi $5,380,904, and 256 townships and towns having
similar debts to the amount of $8,120,147, making a total indebt¬
edness of $13,501,051 coming under the provisions of the act.
There are 57 counties that have no railroad debt, but in 24 of
these there are towns and township debts; so that there are 33
counties, including Cook, that receive no benefit from it whatever.
It is from these latter that the strongest opposition comes,
Atlantic & Pacific Railroad.—Tins Company is reported to
lately bargained at favorable prices for the sale of some
$320,000 worth of iheir lands in two parcels, for immediate settlement, making the aggregate of land sales $354,500 since Jan. 1.
Chicago taking the lead.
Illinois
the
has
case
of
have
Municipal Bonds.—The Supreme Court of Illinois,in
Campbell
vs.
The Paris & Decatur Railroad Company,
The Supreme Court holds no power
a decision.
confirmed on the municipal corporations to subscribe for such
stock. No power was conferred to call the election for the town
officers to make the subscription or to issue these or any other
bonds. The decision of the Court was unanimous. This decision
covers the legality of all the municipal bonds actually issued to
this road. The Chicago Tribune gives the list of registered
bonds issued to the Paris & Decatur Company as follows :
Coles County—
just rendered
Boston & Maine Railroad.—
(Deturns for the Fiscal Year
was
Town of East Oakland
1872, and the road formally opened for traffic February 15, 1873,
thus completing an independent through line between Boston
and Portland in a distance of 1154 miles.
The cost of the exten¬
sion to the close of the fiscal year had been $3,941,322, of which
35,000
Town of Embarrass
Town of Paris
Moultrie County—
Town of Dora
Town of Lowe
25 000
expended in 1872-73.
This event closed
opened to the public, since which time trains have run three
times each way daily between West Amesbury and Newton
Junction, connecting at the latter point with trains on the main
lino.
By the extension of this branch to Amesbury Mills, the
main line would add considerably to its present business from
50,000
18.000
30,000
Total
was
the connection with the Portland, Saco A Portsmouth Railroad,
which is now in the sole possession of the Eastern Company.
On the 9th day of January, 1873, the West Amesbury Branch
Railroad (44 miles), which is leased to this corporation, was
100,000
30,000
Edgar County-
$1,801,293 28
amount
$75,000
Town of Areola..
Town of Boudre
Town *f Bourbon
Ended September 30, 1873.)
The great event, of the past year was the completion of the
Portland Extension, the last rail of which was laid December 0,
Douglas County-
$303,000
the branch.
The business of the road, though not to the extent anticipated,
has made a fair advance.
The passenger traffic shows a nett gain
of 872,005 passengers and 4,512,981 miles of travel; and in freight
Tennessee Bonds.—The Comptroller of the State gives notice
that the Coupons due July 1, 1874, will be paid on presentation
with rebate of interest.
No interest will bo paid on bonds that
have not been
registered or funded under the recent law.
a gain of 21,282
tons and 158,457 in transportation. The gross
Macoupin County Bonds.—In the United States District earnings have increased $253,952, and the working expenses only
Court at Springfield, Feb. 18, Judge Treat rendered a decision in
$70,002. Nett earnings appreciated over those of the previous
the case of the Supervisors of
Macoupin County for contempt of
The dividend to stock¬
year by $183,950, or 36.49 per cent.
refusing to obey the mandamus for an assessment to holders,
although the payment for interest (a new element in the
pay the interest on the Court House bonds.
The ...Judge fined
them $1,000 each, and announced that unless they now obeyed company’s finances) was large, equalled 8 per cent of the capital,
or in amount $500,000.
The amount of interest paid was $108,297.
the mandamus they would incur the severest penalties.
In accordance with the resolutions voted at the annual meeting,
Boston Water Power Co.—It is reported that this company held December 1, 1872, the company have issued their 7 per cent
has, or is about to issue a mortgage of $2,300,000, to bond their bonds to the extent of $1,500,000, which were sold at a consider¬
debt, on tan years’ interest, at the rate of eight per cent, per j able premium; At their meeting December 10,1873, an additional
court, in
annum.
of the same character of bonds
of $2,000,000.
This amount, it is
amount
•
Jersey City Finances.—The lion. J. M. Cornelison, President
of the Board of Public Works iu Jersey City, in response to a request from the Hon. D. S. Gregory, has made a statement in relation to the indebtedness of the city and the responsibility of the
Board for the increase since it
came
into power. The bonded debt
was
authorized to the
thought, will be suf¬
to liquidate the company’s floating debt, and possibly to
j afford some aid in the further prosecution of works. The resoluj tion authorizing these bonds reads as follows:
j extent
j ficient
j
Voted, That the direciors be and are huieby authorized to issue the bonds of
May 1, 1871, was $3,028,159 93; on j the corporation to an amount not exceeding £2,000,000, of which a portion
shall be in
from
January 1. 1874, $5,767,052 01; increase, $2,739,493 92. This , int rest at a£500 bonds payable not more than twenty yearsand six date, bearing
rate not to exceed seven per cent in currency
per cent in
increase was due to these sources ; Payments on contracts awarded i gold.
on
assessment
account
.
on
.
February 21, 1874.]
THE
CHRONICLE
COMPARATIVE STATEMENT FOR FIVE YEARS.
Operations and Fiscal Results.
1868-69.
$
1,082,613
711,163
,77,533
Passenger earnings
Freight earnings
Other receipts
Total gross receipts
expenses
]
Dividends
Other disbursements
Surplus
J870-71.
1871-72.
$
$
940,669 1,105,862 1,092,600
794,204
778,842
575,191
47,798
109,985
159,338
,1,871,339 1,563,658
1,321,390'1,052,108
Operating
Nett earnings
Interest...
1860-70.*
549,949
1,994,689
$
1,302,191
820,512
177,391
1,420,572
239.601
269,391
2,558
2,046,142
1,542,026
2,300,094
1,612,028
574.117
511,550
479,471
60,IKK)
10.478
1872-73.
504,116
688,066
25,916
395,609
143,000
9,592
500*666
•i.iio
108.297
560,000
18,177
1,592
*
Operations for ten months, the close of the fiscal year having be-n changed
rom November to September.
Erie Railway and the Steamships.—In a circular addressed
agents of the Inman Line by Mr. John G. Dale, the mana
ger in this city, he remarks : “ We have also to advise you that
to the
in return for the cordial
co-operation of the Erie Railway Com¬
facilities for taking care
of emigrants on arrival at New York, and for transporting them
with speed and comfort to their homes in the West, we have
arranged to forward via the Erie Railway all emigrant passen¬
gers destined to points accessible by that line and its connections ”
It is reported that the Erie has made similar arrangements with
the Anchor, White Star, National, State and Guion lines.
pany,
and
on
account of their superior
191
represent the interests of a large number of bondholders, whose
rights they are interested in securing. Notice from all these
firms will be found in our advertising columns and they will give
full information to inquiring parties.
Philadelphia & Reading Railroad.—
(Returns for the Fiscal Year ended November 30,1873.)
The prosperity of this railroad is marked in the results of
the past year’s operations, and although they have to contend
with several unprofitable leases, they still maintain their usual
dividend of 10 per cent per annum.
The aggregate traffic of the company for the year, as com¬
in]|[the following
pared with that of the previous year, is shown
statement:
...
1872.
1873.
6,383,991
Passengers carried
6.7!X),088
6.516,553
Coal (tons of 2,240 lbs.) carried....... 6,185,434
Mer. (tons of 2,000 lbs.) carried
2,891,400
Materials (tons of 2,000 lbs.) carried..
497,571
...
'
3,331,104
651,648
,—Increase.—*
406.097=- 6 4 p. c.
361.119 = 5 8 p. c.
439,794 =15 2 p. c.
54,077=10 9 p. c.
The length of road now in use is 725*3, of double track 224*1,
and of sidings and laterals 490*7; total track 1,440*1.
This is an
increase over last year in length of road 17*3, in double track of
19*2, and in sidings of 18*3,
or a
total increase of 54*8 miles.
This increase in road is accounted for
by the leasing of the Phila¬
delphia & Chester Branch (part of the old Philadelphia, Wil¬
mington & Baltimore Railroad) 10*2 miles; the construction of
the Moselem Branch (single) 1*7 miles; and the extension of the
Perkiomen Railroad (leased) from Green Lane to Pennsburg 5*4
Frederick and Pennsylvania Line.—This company proposes miles. The last named
road, now in operation 23*8 miles, is to
to fund the coupons due January 1, which were not paid, in certi¬
be extended to Emaus, and a connection with the East
Pennsyl¬
ficates of indebtedness bearing six per cent., gold, interest and vania
Railroad. To provide the means for the completion of this
having eighteen months to run.
road the Perkiomen Company on June 2, 1873, created a loan of
Hannibal & St. Joseph.—Of this company’s loan from the $2,500,000 six per cent gold coupon, sterling or dollar bonds,
State of Missouri we are informed that only $100,000 will fall secured by a mortgage upon their entire line, of which amount
due before the first cf January, 1875, and the* company is pro¬
$800,000 is set, aside to provide for the outstanding first mort¬
gressing with its St. Louis connecting line and expec.ts to have it gage loan; $500,000 is retained to furnish means for future
extensions or branch lines, and the remainder, $1,200,000, is
fiuisked before long.
guaranteed by the Philadelphia & Reading Railroad Company,
Illinois Central.—Messrs. Morton, Bliss & Co. have just re¬ and wras
disposed of by subscription in London in June last at 90
ceived advices by cable that the subscriptions for the Illinois Cen¬
per cent in gold.
tral 5 per cent, sterling loan of £1,000,000 issued by Morton, Rose
The Philadelphia & Reading Coal and Iron Company now owns
& Co., were £2,100,000 sterling or $10,5l]0,000.
The subscription and controls about 90,000 acres of anthracite coal lands. The
price was 84. This shows a pretty good standing for the Illinois tonnage from these lands last,
year was 3,218,376 tons, and the
Central in London.
rent account amounted to $1,117,262 24.
The investment of the
Louisville, Cincinnati and Lexington.—The directors held a Philadelphia & Reading Railroad Company, represented by the
meeting Feb. G and resolved, for the settlement of the bonded and property of the Philadelphia & Reading Coal and Iron Company,
floating debt of the road, to propose to the creditors to fund the is now $26,366,116 04. as against $18,825,964 89 at the close of
the previous year; and in addition to this amount which has
open liabilities and coupons of the first and second mortgage
been paid in ca.-li, on account of the’purchase and development
bonds which matured Jan. 1, 1874, and to mature in 1874 and
of the lands, the Coal and Iron Company have issued their own
1875, into new consolidated mortgage bonds at eighty-five cents.
The coupons and other evidences of debt are to be placed in the bonds, which are guaranteed by the Philadelphia & Reading
Railroad Company to the extent of $13,413,500.
hands of a trustee.
In addition to the amount advanced to the Coal and Iron Com¬
New
York, Kingston & Syracuse.—The Times had an article pany this company during the.year added to their capital account
some time^since upon the affairs of this company in which it was
expenditures of over three and a half millions of dollars, viz.:
stated that after the name of the
company was altered from Ron$3,556,267 45.
Oswego to the present title as'above, Mr. Cornell made a
The entire amount of instalments upon the convertible loan
loan to the company of $63,000 upon $90,000 of Rondout and Os¬
received during the year was $4,295,355, leaving a balance due
wego bonds, for which he now has a suit against the company.
in future instalments of $3,899,015.
The new road executed a mortgage to the Farmers’ Loan and
On the 1st of October last a new improvement mortgage loan
Trust Company for $4,000,000, a sum sufficient to provide for the of
$10,000,000 in gold was created, and coupon bonds to that
$2,000,000 previously issued by the Rondoivt and Oswego com¬ amount issued payable October 1, 1897, bearing interest at 6 per
pany, and to comply with the contract to complete the line to cent gold, in dollars or sterling, at the holder’s option, secured
by
Earlviile. Of the Rondout and Oswego bonds about $500,000 had a
mortgage upon the property of the company, and protected by
been sold and the balance pledged for loans.
The company then a cumulative sinking fund of two per cent. This loan was all
placed upon the market $3,500,000 of the new bonds for sale, disposed of in London in the month of October last, at the rate
intending to retire and cancel $1,500,000 of Rondout and Oswego of 874 per cent in gold, and up to date $6,631,615 58 has been
bonds, and leaving $500,000 in the hands of the Trustee to pro¬ drawn for by the company of their account.
vide for those sold, thus leaving the New York, Kingston and
The annexed statement accounts for the manner in which all
Syracuse bonds the principal bonds upon the road. The sale was of the moneys obtained by the company upon their different
almost completed in London when the negotiation was thrown off loans
during the last five years has been expended:
by the panic.
PROCEEDS OF LOANS.
OBJECTS OF EXPENDITURE.
Mr. E. B. Litchfield claims that they have built*seventeen miles
Convertible, 1870-90
$5,000,000 P. A R. Coal & Iron Co..,. $26,366,116
of road, and put it in good condition from Rondout'to the
village Consol, mortg., 1871-1911.. 19.110.000 Real estate
2,352,825
of Stamford, about seventy-five miles.
Convertible, 1873-93
6,600,985 Engines and ears
3,510,264
New railroads..
6,611,616
2,119,390
The road is doing, it is claimed, a good looal traffic, but not Improvement mortgage
Stocks and bonds.
853.707
sufficient to provide for the interest upon the bonds. A contractor
Total
$37,342,661 Steam colliers aud barges..
1,038,060
offered to complete the line to Oneonta, provided the coupons
Wharves
239,402
dout &
v
..
.
all bonds can be funded for eighteen months, and that of
$4,000,000 issued by the company $3,000,000 can be used
upon the line from Rondout to Oneonta, 100 miles.' This offer was
upon
the
to be laid before the stockholders.
The present
condition of the
company
is said to be
as
follows:
.
Total
Due Elisha C. & E. B. Litchfield upon
wego
bonds
Due Elisha C. & E. B. Litchfield
Total
91
52
00
00
$781,284 43
$363,000 Rondout and Os¬
$232,135
7
350,208—582,343 00
$1,363,627 4S
New York &
Oswego Midland.—There are now three parties
regard to the proceedings looking to a foreclosure
or
a
reorganization of this road. Messrs. Geo. Opdyke & Co.
represent the party desiring to reorganize under the plan lately
ia the field in
published at much length in
columns. Messrs. Heidelbach,
Frank & Co.; bankers, 52 Exchange place, represent about $2,000,000 of tcreign first mortgage bondholders, and are calling for the
co-operation of resident holders of the same class of bonds to
our
protect their mutual interests.
.
$38,054,167
37,342,661
Workshops, &c..
Loan of ’71 and ’72
paid off..
Materials, increase since ’69..
Difference
$711,506
probably gained from interest on de¬
posits, &e.
i
459,695
212,000
902.707
.
Total
$38,054,167
The increase in the value of the
Notes and claims of the company secured
by $950,000 Rondout and
Oswego bonds, indorsed by Elisha C. & E. B. Litchfield
$590,457
$141,000 New York, Kingston A Syracuse Railroad, indorsed by
Messrs Litchfield
95,633
Notes unsecured by bonds, portion indorsed by Messrs. Litchfield.
60,193
Vouchers aud unpaid pay roll
35,000
Expenditures
Loans
Messrs. Allen, Stephens & Co.
company’s property has been
large. As charged in balance sheet it appears to have
originally cost $84,825,551. From carefully prepared estimates
the present value of the property is stated at $119,053,222.
This makes the appreciation over the cost to be $34,227,671,
a sum
equal to a premium of $49 94 per share above the par
value of the existing stock capital.
This great increase in the
value of the property since it wras acquired is mainly accounted
for by the fact that much of it was paid for out of surplus earn¬
ings without any increase of capital.
very
OPERATIONS AND
FISCAL RESULTS.
Gross Earnings—Railroad travel,
$1,976,645
; mer¬
chandise, $3,603,179; coal, $9,104,094; U. S. mail,
$60,903, and miscellaneous, $87,841.
$14,832,660
..
Schuylkill Canal—Tolls on merchandise, $107,978; on coal $626,8G7, and miscellaneous $54,354..
Schulkill Canal Transportation Line—Freight on
merchandise $49,078; on coal, $402,707, and mis¬
cellaneous, $605
789,199
452,390
[February 21,1874.
THE CHRONICLE
192
COMPARATIVE STATEMENT FOR FOUR TEARS.
Road and
Equipment.
1869-70.
Miles of road owned
Miles of road leased
Miles of read otherwise controlled.
Total of all roads in
575 3
use
1871-72.
323 4
1870-71.
260 1
312*4
252'0
280 4
42'9
1872-73.
327 0
42*9
339 8
448
355 4
42*9
615'4'
708 0
Canton improvement.
N’castle & Frenchtown RR. stk.
Real Estate in Pa. & Delaware..
$150,000
Stocks, &c at cost
Sundry accounts
1,134,774
535,257
,
4,633,504
1,754,943
Merchandise, tons of 2,000 lbs
Merchandise (tons) hauled one mile. 74,327,753
Materials (tons) for company’s use.
293,578
Total (incl.pas’gers) tons of 2000 lbs 7,449,925
6,002,573
2,305,234
6,185,434
2,891.400
6,546,553
3,331,194
88,701,444 118,849,760 161,644,430
437,456
651,648
497,571
8,548.964 10,981,657 11,932,262
earnings
Operating expenses
9,571,367 12,562,843 12,125,038 14,832,661
5,931,466 6,859,967 7,301,738 8,659,920
Nett
3,639,901
577,319
earnings
141,900
5,702,976
695,986
connecting roads..
Total.
Gross
Renewul fund
167,709
490.738
123,747
373,091
$57,622
150,000
169,849
1,416,572
520,170
205,407
$68,250
150,000
241,597
1,452,958
681.689
725 3
Cash
Advances to
Operations and Fiscal Results.
Coal, tons of 2.240 lbs
$150,000
169,709
1,384,146
211,716
158,574
190,501
$12,877,199 $13,524,777 $14,592,060 $14,758,422
Pennsylvania Railroad.—The following official figures ar©
published in the newspapers showing the earnings and expense8
of the Pennsylvania Railroad Company and the united companie8
of New Jersey for the year 1873 :
EARNINGS,
1873.
Pennsylvania Railroad
$24,886,008
9®
8,516,739 9*
1,590,100 1®
United railroads of New Jersey
Delaware and Raritan Canal.
6,172,741
814,976
4,823,300
761,803
175,395
Total
$34,992,848 98
EXPENSES, 1873.
Receipts over cost of working
Profit on steam colliers
Add sundry balances (canals,
Final
resources
Interest
on
3,062,582
5,006,940
846,478
&c.)..
of year
4,061,497
5,357,766
107,185
957,981
-
8,062,582
583,174
5,006,940
812,274
4,907,975
1,777,346
4,194,666
8,130,629
4,454,756
Financial Condition at Close of each Tear.
1869-70.
$
—
28,846,800
real estate..
1,551,800
9,657,700
1,110,027
Capital stock, common
Capital stock, preferred
Schuylkill navigation loan
East Pennsylvania RR. loan, 1888..
Reserved fund
2,578,250
495,900
1,851,024
1870-71.
1872-73.
1871-72.
$
$
32,684,375 32,718.775
1,551 800
1,551,800
1,551,800
21,403,200 28,236,430 39,155.800
1,810,224
1,958,765
1,318,534
2,578,250
2,578,250
2,578,250
495,900
495,900
495,900
2,504,420
1,958,004
2,492,205
30,0lf,775
Total liabilities
46,094,501 59,866,879 69,314,983 80,949,496
21,324,118 26,771,525 27,529,135 28,260,889
4,928,061 6,082,150 6,510.825 7,480,719
3,311,746
4,272,702
5,186,458
6,551,732
6.080,490
1,955,231
1,405,878
1,405,889
1,052,988
1,182.412
251,142
1,223,445
1,000,000
1,000,000
1,000,000
Schuylkill navigation works, &c... 1,000,000
1,680,122
3,107,956
3,556,267
Property and works added in year. 4,239,129
Credit balance Nov. 30
4,959,905 17,052.161 23,392,319 31.470,555
Road and depots
Engines and cars
Real estate
Stock investments
Steam colt ers and coal barges.
Total
6,792.188 05
833,321 46—23,115,814 67
Net earnings
$11,877,084 28
Port Huron and Lake
Balance reserved fund
Funded debt
BDnds & mortgages on
United railroads of New Jersey
Delaware and Raritan Canal
6,422,882
1,968,126
2,479,408
bonded debt
$15,440,305 16
Pennsylvania Railroad
...
property and assets
46,094,501
59,866,879
69,314,983 80,949,496
Michigan Railroad.—A meeting of
Michigan Railroad
Company was held lately at 178 Broadway, at the office of Sewell
& Pierce. It was stated that the holders of a majority of the
entire issue of the bonds had accepted the proposition of the Com¬
pany to fund six coupons from each bond. Resolutions were
unanimously passed by the meeting disapproving of any action
againBt the funding plan of the company, and recommending
the bondholders of the Port Huron and Lake
those who have not already done so to accept at once the propo¬
sition of the company and send in their coupons to the Union
Trust Company, for which certificates of indebtedness can be
obtained in exchange for the coupons.
by'a portion of
foreclose.
The .funding proposition is earnestly opposed
the
bondholders, who
Portland &
express a purpose to
Ogdensburg.—The Portland Board of Aldermen
has passed an order authorizing the issue of an additional $50,000
of bonds to the Portland and Ogdensburg Railroad Company, in
accordance with the act approved by the city.
The reports show
that $518,886 has been expended beyond North Conway. The in¬
stallment of bonds granted makes the aggregate $550,000; 250
Philadelphia, Wilmington & Baltimore Railroad.—
(Returns for Fiscal Tear Ended October 31, 1873.)
men are employed on the road at present.
The expenses of the company, as was foreshadowed in its last
St. Louis & St. Joseph Railroad.—This railroad was sold at
report, have for the past year been very large, incident to extra
the road—being 20 85*100 per cent in excess public auction in this city on tlie 18th inBt. for $100,000, the bid¬
ordinary repairs upon
of those of last year.
The gross receipts, however, show an ding having been started at $50,000. It was bought by C. W.
increase of 8 93-100 per ceitt, in view of which fact the replacing Hassler in behalf of tlie bondholders represented at ^a meeting
The mortgage on which
held at the Astor House on January 6.
of the wooden bridge over the SusquehanDa by an iron structure
Of the bonds secured by
default was made was for $1,000,000.
was paid
out of current expenses, and the Renewal Fund of
$150,000 set aside from the net earnings of 1872 will not be this mortgage the holders of $920,000 are said to be represented
drawn upon,
but increased from the net earnings of 1873 by
$75,000, making the fund in all $225,000.
Gross Earnings—Passenger, $1,728,957; freight and
express, $1,225,801; rents. $7,733; mail and miscel¬
laneous, $112,390. Total
$3,074,881
Operating Expenses—Maintenance, repairs and trans¬
portation, $1,899,477; and taxes, State and local,
1,979,617
$8,140
Net Earnings
$1,095,265
Gross
earnings (Newcastle & Frenchtown
Railroad)
Operating expenses (Newcastle & French¬
town Railroad)
$84,237
62,651—
Gain from Delaware Railroad
Balance of income account Nov. 1, 1872
.
21,586
6,153
510 479
in the combination which has
come
into ooseession of the pro
The road is 76 miles in length, and extends from Lexing¬
perty.
St. Joseph.
Its cost was $2,000,000, and the purchasing
committee hope that the company can be so reorganized and
managed as to render tlie^property very valuable.
ton to
Wilmington and Western.—At a recent meeting of the
directors it was resolved to offer the floating debt creditors pay¬
ment in bonds to be issued under a new second mortgage.
The
amount of these bonds is not to exceed $100,000, and they are not
to bear interest until the road earns a surplus after paying interest
on the first mortgage bonds. This offer will probably be accepted,
provided it is made a part of the settlement with the bondholders.
The floating debt is nearly $90,000.
Worcester & Nashua Railroad.—At a special meeting of this
company held Feb. 14, the stockholder* accepted a legislative act
authorizing them to guarantee certain bonds. There were 8,215
shares represented at the vote on the question of authorizing the
guarantee of the first mortgage bonds on other liabilities of the
$1,633,483
Interest, ground rents, &c
$120,050
Nashua and Rochester road—8,135 in favor of the action. As a
Dividend Jan. 1, 1873, 4 p. c. for 6 months..
460,070
majority of the total shares (17,701) is needed, the meeting ad*
Dividend July 1, 1873, 4 p. c. for 6 months..
460,310
Carried to Renewal Fund
75,000 -1,115,430 journed, leaving the polls open till Saturday, Feb. 21.
Balance credit income account
COMPARATIVE
$518,053
STATEMENT FOR FOUR YEARS.
Operations and Fiscal Residts.
1869-70.
Net earnings
Net int rest
Dividends
853,837
466,217
836 9 9
$1,532,820
512,761
$1,608,215
$1,728,957
1,044,760
101,285
1,088,676
117,383
1,225,801
120,123
$2,678,865
1,647,859
1,692,598
$929 288
$986,267
$2,814,274
1,625,660
$1,188,614
148,746
.
1872-73.
612,425
$2,577,147
Gross earnings
Operating, taxes, <fcc
1871-72.
578,818
168,412
Rents, mails, Ac
1870-71.
563,556
412,823
$1,530,241
878,494
Passenger train mileage
Freight train mileage
Passenger earnings
Freight earnings
$3,074,882
1,979,617
$1,095 265
84,801
94,445
120.050
794,241
851,911
930,218
Uniqn Pacific.—The Income Bonds of the Union Pacific Rail¬
road fall due the first of September next. Holders of them will
be offered in exchange a new sinking fund mortgage bond, which
will be a second lien on the lands and a third on the road. The
terms of the exchange have not, we believe, b<-en definitely
Financial Condition al Close of Each Year.
on, but probably the new bonds will be offered at 90, in
exchange for the Incomes at par. The new bonds will bear 8 per
cent interest in currency, and have a sinking fund of one per
cent, to be invested by annual drawings at par. Judging from
the result of sales of lands during the past few years the remain¬
agreed
ing Land Grant bonds will soon be retired, thereby making these
bond- a first mortgage on the lands, which even at present
market price are estimated at a greater value than the amount of
920,380
both the land grant bonds and the new sinking fund mortgages.
The company now
holds eleven millions two hundred and thirty(11,231,317) acres.
Sundry accounts
The average price per acre on sales jnade up to date is $4.22.
Renewal fund
The Income bonds maturing in S ptember are not secured by a
Revenue balance
mortgage, and it ;s supposed that the holders of them will readily
Total
$12,877,199 $13,524,777 $14,592,060 $14,758,423 exchange them for a bond which is secured by a mortgage and
Road and equipment
$8,090,535 $8,090,535 $8,090,535 $8,090,535 protected by a sinking fund.
Second track
390,082
398,696
395,963
217.536
—On the application of counsel for the bondholders of the New
Susquehanna Bridge
1,579,786
1,611,328
1,616.102
1,641,049
Port Deposit branch
217 537
217,537
217,537
217.537 Jersey West Line Railroad Chancellor Runyon lias issued an
Tramway Washington avenue..
18.855
18,813
18,813
18,813
injunction restraining the further prosecution of work on that
Terminus on the Delaware
76,400
76,400
76 400
76,400
road for the present. William L. learned, a New York lawyer,
1,315
590,454
Darby improvement
1,472,653
1,316,516
was appointed receiver, and will take possession of the road at
Capital stock
Funded debt
Total
$9,562,650 $10,997,900 $11,485,750 $11,507,750
1.755,000
2,359.500
2,000,500
1,900.000
520,471
274,988
445,331
279,120
150,000
225,000
496,889
434,578
510,479
518,053
$10,374,468 $11,001,030 $11,890,736 $11,814,764
one
thousand three hundred and seventeen
once.
February 21,
Export* of Leadiug Articles from New York.*
The following table,compiled from Custom House returns, shows
the exports of leading articles from the port of New York since
®I)C Commercial Cimes.
COM MERC1AL EPITOME.
Friday Night, Feb.
20, 1874.
.
been done during
be noted is
in lead¬
ing staples ; and while no important decline has taken place, yet
there are elements of weakness apparent which give buyers the
advantage. In some of the leading staples a slight decline has
led to more activity, and steady progress is being made in market¬
A
good
average
193
THE CHRONICLE!
1874.]
business in general trade has
January 1, 1874, to all the principal foreign countries, and also the
totals for the last week, and since January 1. The last two lines
show total values, including the value of all other articles besides
those mentioned in the table.
the past week, but the most conspicuous feature to
the almost uniform weakening of speculative confidence
ing the principal articles of
‘
-
last year:
1872-3.
22,778,400
88,894,470
149,236,891
Pork, lbs
Lard, lbs
Bacon, lbs
Total
Hogs packed to February 14.
....257,909,761
No.
5,213,211
Butter firm.
©©©CO
.
^<2
.
.
.feoeo--ap©©egeo
.
ag * ‘
*~2 «
t-T
•
.
•
•<
• <
c-
•
•
•©■«*«
f
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Cheese is again higher at 16£(§}17c.
Freights have been fairly active, but at irregular rates. There
is a fair extent of room on the berth, and latterly the shipments
of wheat have been restricted by higher prices, but corn having
declined, is to some extent taking the place of wheat. The late
engagements embrace corn to Liverpool, at lOd. by steam and 94dby sail; wheat to London, 9|d. by sail; grain to Cork, for orders,
8s.; a ship with grain to a Dutch port, 7s. 9d., but smaller vessels
will bring more. Petroleum at 32^c. in cases to the Mediterra¬
nean; r^sidium to Liverpool, 6s. 6d.
Coffee has further declined, with Rio quoted at 23@27c., gold,
and Java, 29@31c., gold. Rice has been depressed, with the stock
of Rangoon increased to 15.000 bags. The sales of teas have
shown weakness.
Molasses has been taken on the arrival of new
little foreign in first hands—a cargo of
Domestic is in large stock, but firm, at
65@75c. Sugars have been dull, and the stock is increased to
13,447 hhds., 14,346 bxs., 141,676 bags, and 578 lilids. Melado fair
to good refining, quoted at 7f a)7|c., No. 12 box, 8£c., and best
refined, 10£@10fc. There has been a movement in layer raisins
to the extent of 35,000 boxes, with the quotation advanced to
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fair business in wools, and quotations on Cape
pulled wools are somewhat higher, and California has re¬
a part of the recent decline.
Ingot copper declined a
trifle in the fore part of the week, which led to sales of half a'
million pounds Lake at 24$(a;24$c. cash. Americali pig iron has
been quiet and somewhat unsettled.
There has been a strike on
the Lehigh and several companies, and until affairs are settled, will
not name prices ; quoted nominally $35 for No. 1, and $32@$33
for No. 2, but Scotch pig has declined to 40@41.
Petroleum has
been higher and more active, closing with part of the advance
lost; refined in bbls. 15£@15£c.; and crude in bulk, 7^^740. spot
and next month.
Rosin has declined, but with more doing at the
and
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66,170,204
147,995,45?
for the best factories.
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To-day there was a pretty uniform decline: new mess pork sold
at $15 50, on the„ spot, and $15 35, for March; prime Western
steam lard at 9£c., on spot and February ; bacon at 8^@8fc., on
long and short clear. There have been some further closing out
sales of old beef. Beef hams are lower, with sales of Southern at
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domestic produce.
provisions the leading articles of hog products have been
very unsettled." The lower prices mentioned in our last called
out a considerable export demand, and the advance in gold led
to a partial revival of speculation.
The shipping demand for
jard has been in part for the Continent, and bacon has also been
in good demand. In pickled meats there has been a considerable
decline in prices. The exports of the hog crop, from October 28
to February 17, compare as follows with about the same time
In
$22 00@22 50.
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good strained $2 45@$2 50, and in the
finer grades a brisk business at $4 75 S$6 25.
Spirits turpentine
has declined to 48c.
Whiskey advanced to $1 02, and declined
to $1.
Tallow has been easier at 7£@7$o. for prime. Linseed oil
has sold at 95c. in straight lots.
Hides have declined with Dry
Buenos Ayres quoted §.t 25|c. gold.
East India goods have been
quiet at weakening prices.
The market for Kentucky tobacco has continned quiet. Sales
fr
u
of 1872, 460 do. Connecticut and Massachusetts at 54@6|c for
fillers, 9@14c for seconds, and 18?M0c for wrappejs ; crop of 1873,
200 do. New York, at 5f^6^c ; 1,473 do. Ohio, at 6i($7£c, and 48
do. Wisconsin, on private terms.
Spanish tobacco has been fairly
active, with sales of 600 bales Havanna, at 75@95c, and 200 do.
Yara, on private terms.
crop
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concession ; common to
for the week have been 320 hhds., of which 120 were for export,
and 200 for consumption.
New crop lugs quoted a* 5@6^c, and
leaf at 7|@llc for new and old.
Seed leaf has been more active.
The sales embrace : Crop of 1871, 200 cases sundries, at 8@48c;
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194
THE CHRONICLE
Import* of Leading Articles.
The following table, compiled from Custom House returns
ihows the foreign imports of
leading articles at this port since
Jan. 1,1874, and for the same period of 1878 :
[The quantity is given in packages when not otherwise
specified.]
Since
Jan.1/74.
Same
time 1873
Since
Jan.1/74.
China, Glass and
EarthenwareChina
..
Glass
Glassware
Glass
2,002’
1,342
2,7SO
43,033
5,465)
plate
878
€23
Buttons*
Coal, tons
615
172,963
1
Cochineal
Cream Tartar...
Gambier.-
427
1,000
Hemp, bales
Hides, <fcc —
6,655
83,878
258,152
234,123
Oranges.
Nuts
Raisins
India rubber
2*7
1,7191
10,818 j
6,409
Ivory
216
Jewelry, &c.—
Jewelry
151,462
264,832
1,700.381 2,177,241
71,444
.Spices, &c.—
9,775
16,890
Pepper
Saltpetre
>,Voods—
63,13*
*5,673
4,160
81,248
Ginger
568
163
119,531
89,859
5,722
16,071
1,248
l*,7n0
5!,282
5,371
5,818
8,239
13,322
11,658
1,749
724
1,431
4,675
560
'5oo
780
969
5»,331
14,121
244,712
1,069,408
23,987
313,464
55.763
1873.
1,878
1,93*
7,147
3,641
9/73
1,544
328,855
63,803
55,145
87,7*8
111,349
123,120
62,000
172,450
49,527
30,195
65,370
76,209
83,384
38,000
80,187
1,544,265
832,000
512,185
.
97,439
1,627,644
From the foregoing
statement it will be seen that, compan d
with the
corresponding week of last season, there is an increase Jn
the exports this week of
17,252 bales, while the stocks to-night are
319,865 bales more than they were at this time a
year ago. The
following is our usual table showing the movement of cotton at
all the ports from Sept. 1 to Feb.
13, the latest mail dates.
RBOBIPT8
Great
New Orleans
Mobile
.
Charleston...r
Texas
New York
■XPORTBD SINOB SBPT.lTO—
8INOB 8BPT.1.
PORTS.
....
Florida
No. Carolina
Virginia
Other ports
1872.
899,463
217,569
3*2,822
527,523
281,974
100,680
10,729
36,«29
856,051
Total last year
....
We have had
past week.
a
286,505
158.075
43,215
For’gn. Total.
3,24*
29,040
25,594
6,696
7,935
104,464
172,681
98,085
260,266
128,628
575,208
63,663
150,578
17,202
17,074
77,377
275,652
113,427
13,646
19,376
89,711
.
114,089
159,435
199,717
54,082
287,577
10/29
26,821
340.824
65,548
54,955
84,392
116,086
120,823
S’, 179
'368
8,280
36,402
”65
4,203
11,603
5,547
12,485
48,070
319,808
21,837
1010,077
230,651
28*,477
1530,205
954,592
847,080
2501,567 1102,962
161,610
299,506
1404,078 1050,965
29,086
..
Coast¬
wise
stock
Ports.
Other
Britain. France.
770,834
256,880
2a8,340
*03,442
249,096
67,301
9,884
41,179
282,516
31,895
Total this year 3811,726
week
Cassia
3771
308
196,991
310,061
21,701 Hides, undressed..
32
897
Hides, dressed..
*5.492
Lemons...
956!
4,904
192,524
67,390
.....
Fruits, &c.—
2,128
$304,674
Fish
Rice
Bristles
9,609
41.793
6,635
6.805
10,553
31,581
13,218
28,834
4,810 (Fancy goods..
860
568
10,380
1874.
•The exports this week under head of “other
ports” Include from Boston 489
bales to Liverpool, and 13 bales to St.
Johns, N. B. ; from Baltimore 16 bales and
86 bags of Sea Island to
Liverpool, and 956 for Bremen ; and fromPhlladelphla' 189
bales for Liverpool.
563
$118,248
926
144
399
Hair
Savannah
Texas
New York...
Other ports*
248,585
13,592
—
1,264
Flax
Furs
Gunnv cloth
Mobile
Savannah
122 Corks
2,692
4,880
27,490
*227,963
7,690
2,058 Cigars
92
Soda saf
Soda ash
value
’
2,515
Wines
120
2,185
24,8*1
4,123
8,344
2,133
12,702
11,358
Stock.
Totalthls 8amew’k
week.
1873.
Contln’t
France
1873.
11,474
1,333 Wool, bales
60 Articles
reported by
217
170
Oils, essential..
Oils, Olive
Opium
Soda, bi-carb—
52)
Champagne, bks.
841
1,031
Madder
4* bags.
Tea
2,192
.
Gum, Arabic
Indigo
18,759
231,560
162,165
7,118
35,461
37,372
3,318 j Tobacco
€90 Waste
67] Wines, &c—
69*.
75
474
57,703
65,851
985,756
8,805
30,404
109,521
116,719
463,532 1,162,617
14,701
14,741
iSugar, bxs
4,3391
5.772
3,053
1,093
bbls
91
....
-
Iron, RR. bars...
Lead, pigs
Spelter, lbs
Steel
1,574!
920!
Tin, boxes
Tin slabs, lbs...
6,1711
9,7681 Rags
201,337! Sugar, hhds, tcs. &
1,939
Cocoa, bags
Coffee, bags
Cotton, bales
Drags, &c—
Bark, Peruvian..
'31ea. powders...
588
265
Ilardwaie
8,396]
NewOrleans.
Total
Since Sept. 1
Metals, &c.—
Cutlery
69,789
2,000
Earthenware.
Exported to—
Week ending
G. Brit.
Feb. 20.
Charleston...
Same
time 1873
[February 21,1874.
....
4,565
W,000
509,83 7
somewhat feverish and unsettled market tlie
In spot cotton, tlie business reported early in tlie
largely on speculative account, embracing 2,118 bales
Saturday after ’Change, and 2,000 bales on Tuesday after
’Change. It is stated that these purchases were for delivery on
contracts
was
put out for tlie later months, and that the difference in
prices afforded a certain profit.
But during Wednesday and
31,038
168,459
Fustic
136,6211
14,788 Thursday there was no demand of this sort, and under the dull
1,164
6,028^ Logwood
54,213
148,616 accounts from Liverpool, with a vast accumulation of stocks in
120
Mahogany
16,378 our markets,
quotations were revised on Thursday—ordinary
Receipt* of Domestic Produce.
being reduced ^c and other grades £c, notwithstanding the fact
that the receipts at the
The receipts of domestic produce since
ports, as reported to the Cotton Exchange,
January 1, 1874 and for
he same time 1873, have been as follows :
‘aggregated less than 13,000 bales. To-day the market opened
Watches
Linseed
Molasses
82
Cork
42,137
1,798
'
weak, but
Since
Jan.1/74.
920
I
Same
time 1873
813
Ashes... .....pkgs.
Since
Pitch
Oil cake....
Breadstuff's, &c.—
Flour
Wheat
bbls.
bush.
543,254
Rye
Barley. &c
Grass seed.bags.
Beans
bbls.
Peas
bush.
C. meal....bbls.
Cottou
bales.
49
4,435.730
: ,689,658
949,7981
Butter
930!
243,570
32,854
8,318
0,151
Cheese....
Outmeats.
183,598
17,88!)
14,437
19,238
38,345
204.893
Hemp
bales.
434
No.
bales.
82,980
4,292
410,511
do
bbls.
Naval Stores—
Cr. turp.
bbls.
21,589
Spirits turpen...
Eggs
.
Pork
Beef
Lard
36,889
174,271
Lard
oio! Rice
14,87 4 i Starch
3,303 St arine....
.
'Tobacco
2,784
.
Rosin
Tar
.
.
.kegs.
.pkgs.
36.1,843 Sugar
Sugar
2i,ioo Tallow
9,000
.....
.pkgs.
7,249
106,025
52,786
97,494
25,44(1
85,321
5,240
54,471
6,634
5.242
35,' 66
3,701
196
6,488
*6,075
.pkgs.
.
1,858 (Tobacco.... .hhds.
8,879 jWhi-key...
63,013 I Wool
.bales.
3,009 Dressed Hogs..No.
41,472
5,909
13,432
1.37
..
...
213
21,510
284,357 Oil, lard
031,712 Peanuts.
.bags.
675,275 Provisions—
Hides
Hops
Leather. ...sides.
Molasses
hlids.
time 1873
pkgs.
1,241,758
108,075
Corn
Oats
Same
Jan.1/74.
*0,741
94,866
68,007
140,195
14,745
33,074
7,105
88,404
3,065
2,591
52,282
2,901
52
5,5H5
18.368
4.789
4,940
30,409
6,401
26,683
13,425
78,836
63.217
COTTON.
Friday, P. M., Feb. 20, 1874.
By special telegrams received to-nightfrom the Southern ports,
we are in possession of the returns
showing the receipts, exports,
&c., of cotton for the week ending this evening, Feb. 20. It
appears that the total receipts for the seven days have reached
116,322 bales against 130,811 bales last week, 145,657 bales the pre¬
vious week and 170,652 bales three weeks since,
making the total
receipts since the first of September, 1873, 2,928,048 bales against
2,610,520 bales for the same period of 1872-73, showing an in¬
crease since
September 1, 1873, of 317,528 bales. Tlie details of
the receipts for this week (as
per telegraph) and for the corres¬
ponding weeks of tlie five previous years are as follows :
no further reduction was made in
quotations, the
demand being rather more
active, including a renewal of specu¬
lative buying to deliver on contracts about to
mature.
For
future delivery, the
openiug was buoyant, and ou Monday
morning the demand
quite active; but the receipts at New
reported for that day, were dis¬
appointing, and prices soon took a downward turn, which con¬
tinued throughout
Tuesday. On Wednesday, with the certainty
that New Orleans would
report small receipts, there was some
attempt at a rally ; but {Savannah broke it down, and the
early
improvement was lost. Thursday there was a quick and general
decline of 3-16@£c., with, later in the
day, considerable pressure
to se'll.
At the reduction, however, the close was
quite steady,
especially for the spring months. To-day there was a further
Orleans,
well
as
as
was
the aggregate
material decline in all the
months,’with few sales for March and
April, the former month touching 15c., from which price, how¬
ever, there was some recovery. A notable feature in the
business
of Wednesday and
Thursday was the revival of activity in ex¬
changes. Parties who had cotton to receive in March and April
arranged to receive it in May or the summer months by paying
a
stipulated sum. This would indicate that hopes of an
early improvement in prices are being abandoned. The
total sales of this
description for the week are 111,250
bales, including 300 free on board.
For
immediate
de¬
livery the total sales foot up this week 13,241 bales, including
3,231 for export, 2,476 for consumption, 6,574 for speculation, and
960 in transit.
Of the above 1,270 bales were to
The
arrive.
are the closing quotations :
following
Upland and
Florida.
Ordinary
per lb.
Good Ordinary
Strict Good Ordinary
Low
Good
12%®...
13%®....
14%®....
15%®....
16%@....
17%@...
."
Middling
Middling
,
Middling
Below
Uplands
we
New
Mobile.
Orleans.
12 % ®....
@....
Texas.
12%®....
.
12%®....
14%®...,
14
14%®....
14%@....
15%@....
16% @....
14 15-16
n%@....
iJow
Orleaus
Mobile
Charleston
Savannah
Texas
bales.
1874.
1873.
41,937
46,943
0,977
9,911
9,730
17,2*1
8,110
11,193
13,171
[8,5 v4
1872.
37.513
7,009
4,754
1871.
and transit cotton and price of
day of the past week :
at this market each
47,409
25,659
9,121
5,298
7,449
6,295
13,056
8,204
16,720
7,005
18,033
3,010
9,591
9.979
9.000
6,018
7,902
7,1*07
12,732
7,027
237
516
956
Virginia
1,13d
12,708
52,103
11,290
1,635
7,303
2,269
11,302
116,322
109,153
77,037
Total this week
Total since Sept. 1
2,923,048
'
994
4,068
9,466
891
650
1,839
5,770
1,112
6,0-28
136,661
96,424
74,378
2,610,520 2,160,951 2,7S7,73o
2,032,786
1,000.981
•
-
The exports for the week
ending this evening reach a total of
97,439 bales, of which 59,331 were to Great Britain, 14.12L to
France, and 23,987 to rest of the Continent, while the- stocks as
made up
this evening, are now 832,00) bales. Below are the
exports and stocks for the week, and also for the corresponding
week of last season:
Exp’t.
1869.
62,780
Tennessee, Ac
Florida
North Carolina
1870.
15%®....
16%®....
17%®....
irive the sales ot spot
8ALK8.
Received this week at—
14 15-16
15%®....
16%®....
17%®....
Saturday
Monday
80
407
101
558
1,312
218
.‘■50
515
431
695
473
2,204
867
3,231
Tuesday
2,476
6,571
Wednesd ay
Thursday
Friday
Total.
PRIOK8.
Con- Spec- Tran¬
sit.
sump. ula’n
1,120
Good
Total.
1,301
2,122
*
71
-
-
-
360
500
4
LOO
1,053
....
960
Low
Mid
Ord’ry. Ord’ry. Midl’g. dling
13
13
13
13
13%
13%
15%
15%
15%
15%
15%
15%
....
13,241
14
11
14
12%
12%
3,037
1,961
3,685
1,314
1,893
....
....
14
16%
16%
16%
16%
16%
16%
....
For forward delivery the sales
(includiug 300 free on board,
have reached during the week 111,250 bales (all low
middling or
on the basis of low
middling), and the following is a statement of
the sales and prices
For
February
bales.
300
100
200
Kills
800
100
cts.
15
15%
1514
n
15.5*16
15 5-16
For
bales.
1.700..
1,800...
2.70*...
1,200...
1,800.
March,
cts.
15
1-32
15 1-16
15 3-32
bales.
1.100
1.500
2.300
Ct8.
...15 5-16
..15 13-32
2,100
4,900...... .15 7-16
.
bales.
3.300
200
1,600 total Feb.
15%
1.400
15 5-32
3-16
1,500
15%
2,900
..15 17-32
2,100..
1,100
2,1*00
2,000
15%
5,700
,,,15.9-16
3,100..
.
71*0...
tf t
f
f
.
.
..15 15-32
15%
42,109 total March.
For April.
2.900,.
15%
cts.
15 19-32
1") 21-32
1511-16
...15 23-32
*,«,,,<«
.15%
February 21, 1374. J
For May.
Ct8.
bales.
L3.5J0.... ....15 25-32
1,000.... ....15 13-16
200.... ....15 27-32
3,100....
soc.... ....15 29-32
100
600.... ....15 31-32
5.800....
16 1-32
3,8''0....
16 1-16
2.100,...
500....
bales.
500...
300.
600
600..
1600
60 )
1.0 0
2,00'....
2,100....
....
...
16 5 32
.16 3-16
..
..
1,100...
1,800...
...
16 9-16
16 19-32
100....
|
17k
....
..17 11-32
187423.
The
Philadelphia,
p.
17k
..
..
17 13-32
...17 7-16
..17 15-32
17k
6,200 total July.
17k
For August.
300
...17 9-16
7,050 total June.
“
“
200 Mch. for May.
Fri.
Sat.
15 5-32
March..;... 15 15-32
16 3-32
April
16 17-32
17
17 11-32
.July
August.... 17 19-32
Gold
112k ♦.
Exchange. it- OC <w
523
Sales, spot.
Sales,future 14.700.
,
,
.
Wed.
l‘> k
15k
16k
16
16k
16 21-32
16k
17k
17
17 15-32
17k
17
i'l2'k
15 13-C2
ii2:Y
4.82
1.301
11.200
4.82
3.1'87
17,40 J
Weather Reports
siderable fall of rain
u
Thurs.
15 5-16
15 7-16
16 1-32
16 17-Si
10 17-32
07
17 9—1G
ik
Frl.
15 k
15k
15k
15 9-16
16 7-32
15 5-’.6
15 17-32
February..
June
65,500
23,750
Stock at Antwerp
Stock at other continental ports
12,500
25,000
319,250
460,000
1,195,500
1,154.000
148,000
203,000
1,!53,000
374,000
312,00°
28,750
Stock at
20,000
Hamburg
....
European stocks
Europe
American cotton afloat for Europe.
Egypt, Brazils, &c., afloat for Europe.
.. .»
...
15k
15
15 3-'6
15 13-16
16 9-32
15 1-32
15 11-16
16 7-32
16k
17k
16k
Of the
16 31-32
U-'k
112-V
ii‘2k
4.82
1,314
4.82
3,685
23.500
12.30J
in the cotton States
than is usual at this
aud ten hundredths of
an
season
inch.
529,000
95,000
512,135
90,783
10,000
...
ports..
...
supply
...
3,035,848
2,593,918
94,000
549,641
87,065
11,COD
175,000
of the year.
a
208,000
125,000
2S7,000
146,348
25,000
90,783
154,000
312,000
549,641
87,065
10,000
11,000
bales. 2,006,348
1,441,918
1,321,706
395,000
American afloat to
the past
2,580,706
above, the totals of American and other descriptions are as follows:
Liverpool stock
a con¬
At New Orleans there has been
Total visible
Continental stocks
1,593
25,030
Telegraph.—There has been
by
14,0C0
67,000
15,000
15,000
63,000
17,000
15,000
*5,000
American—
17 9-16
4.82
4.82
1.961
19.650
Stock in United States ports
Stock in United States interior
587.000
102,000
832,000
146,348
*5,000
...
...
United States exports to-day.".
15k
week, but no
At Galveston there
was a shower on one
day, the raiu fall being six hundredths of an
inch.
It has rained on two days at Vicksburg,the rain fall reach¬
ing fifty-one (51) hundredths of an inch. They have also had rain
on two days at Nashville, and also two
days at Memphis with the
rest of the week cloudy; at Memphis the rain fall reached one
more
Stock at Rotterdam
Stock at Barcelona
India cotton afloat for
Taes.
Mon.
15k
406,000
35.000
11,000
...
15k
185,000
Stock at Amsterdam
Stock at Marseilles
Total
100 Feb. for Mch.
SO'J -'pril for July.
“
On spot....
747,000
193,000
12,000
49,000
29,000
37,000
63,000
7,000
27,000
38,000
Total continental stocks
The following will show the closing prices each day o:i the
basis of low middling uplauds, for the several deliveries named:
May
694,000
Total Great Britain stock
t.
kc. pd. toexch, 1,200 Mch. for April.
lk'C.
666,000
181,000
Stock at Havre
..
following exchanges have been made during the week:
S-32c.
1 7-16e.
488,000
191,000
Stock at Bremen
300
800
300
100
The sales during the week of free on board have reached 300
bales; the particulars of these sales are as below.
300 bales f. o. b.
1872.
1873.
1874.
Stock at Liverpool
Stock at London
....
400
BOO
500
600
100... ....16 31-33
17
17 1-16
300....
500....
Ct8.
..16 31-32
17
...171-32
.17k
...17 3-16
1,000
3,350...
16 k
195
July.
.....
16\
1,400...
36,300 total April.
16 11-16
For June.
800...
10k
100... ....16 21-32
200... ....16 11-16
400...
soo... ....1617-32
1,600....
...
For
bales.
200
600
300
17,400 total May
16 13-32
COO...
301... ...,16 15-32
3,200
16k
16k'
16 5-32
16 3-16 1
16 7-32!
10 Id
IS 9-32 1
16 5-16 1
.
..
...
els.
1 bales
2.500....
1,000....
Ct«.
1,400...
...
CHRONICLE.
THE
358,000
181,oro
Europe,
529,000
587,000
United States stock
512,135
United States interior stocks
United States exports
...
to-day
Total American
East Indian, Brazil,
dtc.—J
Liverpool stock
India afloat for Europe
100,250
148,000
321,000
196,000
335,000
203,000
Egypt, Brazil, &c., afloat
102,000
95,000
London stock
Continental stocks
252,000
374,000
94,000
1,152,000
1,259,000
drizzling rain on two days. It has rained on two days at Mobile, Total East India, &c
2,006,348
1,441,918
1,321,706
light, the rainfall reaching forty hundredths of an inch ; on the Total American
other days it has been cloudy.
There have been two days rain
Total visible supply
bales. 3,035,848
2,593,918
2,580,706
and a heavy hail storm at Selma.
At Montgomery it has rained Price
7 J<@Sd.
Middling Uplands, Liverpool
9*d.
on three days, the rain fall being one and
eighty-two 'Hundredths
These figures indicate an increase in the cotton in sight to
of an inch.
It has rained* on one day at Macon, and the same at
night of 441,930 bales as compared with the same date of 1873
Columbus.
At Savannah they have had heavy rain on two days,
and an increase of 455,142 bales as compared with the
correspond¬
and a slight rain on one other day.
It has rained at Augusta on
ing date of 1872.
more than half the days of the week.
The thermometer at Gal¬
Movements of Cotton at the Interior PoRTS.—Below we
veston has averaged 03, at Vicksburg 58, at Memphis 46, at Mont¬
gomery and Selma 59, at Mobile 01, at Macon 51, at Columbus 58, give the movements of cotton at the interior ports—receipts and
and at Savannah 49.
shipments for the week, and stock to-night and for the correspond¬
ing week of 1873 : ,
......
Consumption
readers to
of
article
Cotton
in
Europe.—We would refer
our
Bombay
on
cable dispatch received
to-day, there have been 15,000 bales shipped from Bombay to Great
Britain the past week and 8,000 bales to the continent, while the
receipts at Bombay, during the same time have been 34,000
bales. The movement since the first of January is as follows.
These are the figures of W. Nicol & Co., of Bombay, and are
brought down to Thursday, Feb. 19:
Shipments.—According to
✓-Shipments tills week to—>
Britain
C011tinont.
15,000
20,000
8,000
6,000
23,000
26.000
14,000
17,000
our
r-Slilpments since Jan. 1 to-^
Total.
31,000
Great
r-Week ending Feb.
this
subject in our editorial columns.
—We also giv.e this week an editorial review of the Bombay
cotton movement and crop for 1873.
an
Great
Britain.
78,000
92,000
152,000
Continent.
Week’i
Total,
42,000 120,000
34.000 126,000
56,000 208,000
receipts.
34,000
36,000
42,000
From the
foregoing it would appear that compared with last
fear there is a decrease of 3,000 bales this year in tlie week’s
shipments from Bombay to Europe, and that tlie total move¬
ment since Jan. 1 show a decrease in shipments of 6,000 bale*
compared with the corresponding period of 1873.
Augusta
5,902
1,147
transactions
being chiefly of a jobbing nature, quoted firm at 13c.
currency.
Sales of Jute butts during tlie week aggregate about
5,000 bales, part to arrive at 2£c. gold, and remainder on spot at
2ffa)2£c. currency. Market closes firm at 2fc. on spot, and 2£®2£c.
gold to arrive.
Visible Supply of Cotton
graph.—Below
as
Made
up by
Cable
3,261
693
846
28,992
13,987
12,026
660
575
785
272
331
389
306
1,288
G39
390
268
Memphis
11,290
17,535
Nashville
3,005
3,429
3,376
5,122
65,232
17,613
11,856
1,582
12,730
871
13,937
11,690
13,158
8,920
5,247
28,909
8,922
30,498 146,348
18,831
18,814
90,783
Montgomery...
Selma.
23,750
Tele¬
give our table of visible supply, as made up
by cable and telegraph to-nigbt. The continental stocks are the
figures of last Saturday, but the totals for Great Britain and the
afloat for tlie Continent are this week’s returns, and consequently
brought down to Thursday evening; hence to make the totals the
complete figures for to night (Feb. 20). we add the item of
exports from the United States, including in it tlie exports of
Friday only.
we
3,279
The above totals show that the interior stocks have decreased dur¬
ing the week 6,648 bales, and
same
pmio 1 last year.
at the
than the
more
same
to-nigbt 55,565 bales
are
more
than
The receipts have been 4,919 bales
week last year.
The
this ‘week from New York show an
last week, the total reaching 11,658
bales, against 10,053 bales last week. Bolow we give our usual
table showing the exports of cotton from New York, and their
exports of cotton
increase as compared with
direction for each of the last four weeks; also the total exports
and direction since Sept. 1, 1873; and in the last column the
total for the same period df previous year.
Exports of Cotton (bales) from New York since Sept.l, 1813
WEEK ENDING
Total
to
EXPORTED TO
Jan.
28.
Liverpool
10,525
Other British Porta
.4.
Total to Ct. Britain
Havre
Other French ports
Total French
Hamburg
10,525
Europe.
Spain, Sec
Grand Total
7,886
761
Feb.
18.
date.
11.
9,392
11,358
271,624
••
....
9,392
•
•
•
•
...
10.975
400
....
100
....
400
....
....
108
400
450
450
....
761
....
Spain,Oporto A Gibraltar Ac
Total
Feb.
....
•••
....
All others
7,886
....
...
Other ports
Total to N.
Feb.
4.
11,358
108
.v
Bremen and Hanover
and
^-Week ending Feb. 21, 73 ->
Receipts. Shipments. Stock
4,391
3,087
1,086
Columbus
Macon
Gunny Bags,
has ruled steady
Bagging, Etc.—The market for gunny cloth
and quiet the past week, with but few trans¬
actions reported.
The demand for consumption is limited, and
there is little or no speculation.
However, holders of both
domestic and foreign are confident and anticipate better prices.
We quote full 2± lb. rolls at 12£c. cash for present, and 14c. for
summer deliveries.
India bales are held at 9£(a)10c. casli, and
Borneo at 12£c.@13c. For gunny bags the market is rather quiet,
20,1874—*
Receipts. Shipments. Stock.
500
.
.
606
58
606
58
9,653
10,058
....
....
100
200
....
300
Same
time
prev.
year.
267,*34
....
208
271,624
267,442
6,234
1,701
1,968
....
7,935
1,968
13,043
3,393
17,15*
593
118
17,029
21,868
2,647
2,741
2,647
2,741
299,235
294.019
4,598
....
....
....
11,658
THE
196
The
following are the receipts of cotton at New York, Boston,
Philadelphia and Baltimore for the last week, and since Sept. 1/73:
18.432
mob’tb
NEW YORK.
FHILADKLP’IA
BOSTON.
Sept. 1.
New Orleans..
Texas
2.660
58,081
2,608
30,468
Savannah
2,090
117,356
Mobile
Florida
8’th Carolina.
N’th Carolina.
643
Septl.
2,727
i93
3o|57*
609
2,046
10^992
7.528
...
*
'481
15,690
184,775
i*78
*59
....
North1 rn Ports
106
5,281
Tennessee, &c
5,855
106,535
47,665
17,897
954
767
329
■
59.483
Total this year
20,640
622,076
24,722
583.179
271
10,109
....
10,582 205,972
2,859
....
9y9
3,135 60,945
25,625
71,575
1,983
1,138 *2,912|
Shipping News.—The exports of cotton from the United States
the past week, as per latest mail returns, have reached! 82,262
bales. So far as the Southern ports are concerned, these are the
■ameexnorts reported by telegraph,and published in The Chron¬
last Friday, except Galveston, and the figures for that port
are the exports for two weeks back.
With regard to New York,
weinclude the manifests of all vessels cleared up to Wednesday
icle
night of this week :
Total bales.
New York—To Liverpool,
steamers Algeria, 1,374
Gaelic, 3,458
City of
per
Wisconsin,
New York,
Oceanic, 1,797
Canada, 1,675
To Br -men, per steamer Hermann. 100.
To Hamburg, per steamer Thuringia, 300
.
...
New Orleans—To Liverpool, per steamer Guillermo, 3/313 ...per
ships Victoria, 2,527
Stowall, 4,200
per barks Richmond,
.Ragna, 1,499
To Havre, per ship Reunion, 3,280
per barks Aurora, 1,940
Westfold, 1,501
Arlington, 1,814... Thos. Cochrane, 1,943
To Antwerp, per schooner John T. Kranz, 1,624
:
To Amsterdam, pel bark George Peabody, 2,150
To Rotterdam, per ship Martha, 2,146
To Barcelona, per brigs R. B Gove, 1,529
Trinidad, *00
To Malaga, per bark Constantine, 1,361
.
To Genoa, per barks Augustine Hobbe, 1,450.
Kbenezer, 1,529
Mobile—To Revel, per ship Ahbie Ryerson, 3,140
1,743
11,358
100
300
..
10,478
1,624
3,150
3,146
1,729
1,361
*,919
..
To Barcelona, per
brig Ataiayador. 353
Liverpool,
ship Richard III, 2,671 Upland and 928
bark Undaunted, 2,382 Upland and 190 Sea
8ea Island
3,140
353
per
per
Island....
To Queenstown aud Falmouth, for orders, per brig Hebe, 772 Up¬
land.
To Havre, per bark Celeste, 1,900 Upland
To Amsterdam, per bark Lawrita, 724 Upland —
To Barcelona, per brigs Clara, 790 Upla»d
Mayaguezana, *93 Up¬
land
..
Savannah—To Liverpool, per ship Shandon, *,232 Upland, and 55 Sea
Island
To Reval. Russia, per ship C. A. Parwell, 3,750 Upland
To Malmo, Sweden, per bark Eliza Oulton, 1,366 Upland
-
Liverpool, per ships Oxford, 2.558
Texas—To
..
Astracana, 3,540...
6,171
—
.
..
n
a
m
.
77*
-
•
724
1,900
•
•
•
•
....
•
....
v
*
#
n
®
....
..
•
•
a
•
•
620
»■
.
m
2,146
m
.
•
•
3,iio
•
1,729
353
1,083
3,750
our
•
•
•
•
....
1,360
502
447
....
....
...
3,165
82,262
Included in the above totals are from New York 100 hales to Bremen
bales to Hamburg; from New Orleans 1,361 bales to Malaga, 2,979
8 ®..
8X®8X
.43,557
772
12,378
1,624
3,494
2,450
6.890
Genoa; from Savannah 1,366 bales to Malmo; from Norfolk 1,728
bales to
bales to
Cork; from Baltimore 198 bales to Bremen.
Below
give all news received, during the week, of disasters
carrying cotton from United States ports :
we
to vessels
(Sp.)—The expenses incurred by steamship Jose, from New Orleans, at
Bremen, while ashore at Heligoland, amounted to £220.
Kathleen, bark (Br.), from Charleston for Bremen, remainei aground in
Dover Bav Feb. 30, filling with water every tide.
Several attempts had
been made to tow her off, but without success, and the cargo was bsii g
discharged.
Paulina, bark (Br.), Drevcr, from New Orleans Dec. 19 for Bremen, put into
Milford Feb. 16, leaky.
414,000
349,000
301,000
Thurs.
8 ®....
7X©8
834®
3 ®....
8X@8X
Fri.
834®-...
...
Liverpool, Feb. 5.—The following are the prices of middling
qualities of cotton, compared with those of last year:
.—Good & r-Same date 1873-
-Fair &
r-Ord.& Mid16
18
15
18
Sea Island.
Florida do.
Mid. Fair. Good
20
30
30
97
23
20
38
22
23
Mid.
M.F.
734
1°34
1034
1134
V4.
N.O& Tex 634
26
23
18
734
7X
734
Mobile.... 634
21
17
L.Mid.
Ord. G.Ord.
Upland... 634
Fine.—.
g’d fair-^
7X
G.Mid. Mid. F. Mid. G.Mid.
9 15-16 1034
8 1-16 834
10 1-16 1034
7 13-16 834
834
10 3-16
1024
834
8X
°X
7J4
Since the commencement ol the year the
tion and for export have been :
transactions on specula¬
Actual
Actual exp. from
Liv., Hull & other exp’tfrom
Taken
1874.
bales.
American....
Brazilian...
on
spec,
bales.
170
330 210
Egyptian. Ac.
India, Ac.
E. Iudia, &c.
W.
54.860
7,480
1,410
2,510
15,750
23,290
12,101
120,75*
712
170
18,880
710
89,270
9,980
412,600
23,673
591.490
2,160
27,934
89,550
21,330
Total
11,740
baies.
1 012
14.430
2,000
4,790
1s73.
bales.
16,752
2,437
26,400
150
1873.
1874.
bales.
1872.
balqs.
U.K.i*
outports to date—,
to this date—,
1873.
187,240
,
50,293
The following statement shows the sales and imports
tor the week and year, and also the stocks on hand
9,990
of cotton
Thursday
evening last!
DESCRIPTIONS.
,
1873.
1874.
1878.
36,770
7,830
6,450
31,150
8.090
7,890
670
167,760
44.760
40,350
1,940
12,620
82,470
16,580
75,490
year.
44.690
210,650
5.810
5.880
32,100
1,550
14,660
381,790
5,910
800
90
..
.
130
1801
2i0
3,540
59,330
6,330
820
43,280
Imports.
This
week.
American..,
Brazilian
Egyptian
..
...
..
*7,031
15,545
9,746
Smyrna & Gr’k
To this
date
1874.
209.464
To this
date
1873.
213,350
1,871,991
46.362
55.656
36.171
219
677
468,070
309,739
16,102
113,041
....
Total.
1873.
1,847
13,360
7,084
32,723
67,229
411,508
348,412
Of the
1,950
2,980
10,940
10,700
346,880 63,940
60,810
-Stocks.
Same
Dec. 31.
This
date
1873.
1873.
110.340
148,690
20.810
62,510
67,330
21&3$P
77,830
67.150
757,603
229,460
281.800
3,536,646
635,940
445,150
592,960
6,962
24,035
Total.,
J-
98,920
1,560
17,310
232,460
61,417
W. Indian
East Indian...
..
Average
weekly sales
period
7,010 73,700
1,680
West Indian.... ) X'I0U
East Indian
10,300
Total
Same
Total
this
Silies th is week.
Ex- SpeculaTrade. port
tion. Total.
present stock of cotton in
2,600 )
14.790 )
22,130
Liverpool 34 1-3 per cent is
Indian cotton the
American, against 24£ per cent last year. Of
proportion is 36| per cent, against 5H per cent.
London, February 7.—The market has been dull, and prices
lower, both for produce on the spot and to arrive. Annexed
are the particulars of imports/deliveries and stocks :
are
and 200
Total
8,000
460,000
Wed.
Tnes.
8 ® ...
8X®8%
Egyptian
5,770
Smyrna & Greek 1 ,
3,750
128,000
110,000
8,000
correspondent in London, writing under the date of Feb. 7
*,*87
2,348
....
445,000
341,000
70,000
287,000
states:
1,083
11.214
....
•
.
67,000
27,000
11,000
*■
682,000
822,000
216,090
66.000
88,000
636,000
218,000
'
95,000
Mon.
American, .bales.37,100
Brazilian
5,010
11,658
34,547
3,493
10,650
7,403
....
•
•
301
m
....
•
•
638,000
230,000
European Cotton Markets.—In reference to these market*
1,900
724
The particulars of these shipments, arranged in our usual form
are as follows
Ant-Ameter-Rotter -Re¬ Barce¬
Liver-Queenspool. towu. Havre.werp. dam.
dam. val. lona. Total.
1,i50
11.00°
4,000
9,000
Sat.
.
1,624
10,000
8,000
SALES, ETC., 01* ALL
82,26?
10,478
6,000
7,000
407,COo
302,000
8 @—
8*®8X
198
*01
447
Total
....
76,00°
7,000
4,000
took
table will show the daily closing prices of cotton for the week
The following
77*
11,*14
1,728
620
Gardner Coloy, 3,285
per bark Seaman, 18*1
Norfolk—To Cork, per bark Telemach, 1,728..,.
To Amsterdam, per bng Bernhardt, 620
Baltimore—To Bremen, per bark Hedwig, 198
To Rotterdam, per ahip DuiBberg, 304
Boston—1To Liverpool, per steamer Samaria, 447
New York
.11,353
New Orleans.... 12.0SO
Mobile
Charleston
6,171
Savannah
2,287
Texas
.11,214
Norfolk
Baltimore
Boston
447
90,000
Actual export
Amount afloat
of which American
12,080
..
Ceahlkston—To
Feb. 13.
73,000
of which speculators took
Total stock
of which American
Total import of the week..'.
of which American
Mid. Uplands.
Mid. Orleans..
Feb. *0-
Feb. 6.
bales. 72,000
Jan. 30.
Sales of the week
of which exporters
44T
547
12.777 185,430
Total last year.
48,418
....
32
....
5,*68
.
.
6,700
11,529
2,304
14,436
5,265
1,936
Foreign
Septl.
....
103,106
5,274
Virginia
Since
This
week.
Since
13.298
3,532
17
1,404
This
week.
This
Since
week. Septl.
Since
of the day were 12,000 bales, of which 2,000
bales were
for export and speculation. Of to-day’s sales 7,000 bales were
American. The weekly movement is given as follows :
BALTIMORE.
from-
This
week.
[February 2L, 1874.
CHRONICLE.
1873.
Imports, Jan. 1 to Feb. 5
75,252
18 T4.
bales.
21.880
1872.
43,178
39.306
188.908
Stocks, Feb 5....
57.112
44,429
178,494
Deliveries
205,38!
BREADSTUPFS.
Jose
Friday P. M..
Feb. 20. 1874.
depressed condition of the flour market, as noted in our
until Wednesday, when some
20,000 bbls. of shipping extras were taken at $6 60@$6 75 on the
Queen op the South.—Steamer Lackawanna arrived at Norfolk Feb. 8 from spot, and $6 80 for March delivery. This was followed by an
the wrecked schooner Queen of the South, from 'lobile for Boston, at
Watchaprigus, with 55 bales of cotton. She reports that the schooner advance in the lower, and a better demand for bakers’ and family
has gone to pieces, that a portion of ner cargo has been picked up adrift
brauds, though Thursday was comparatively quiet. It appears
and the balance is a.hore near where tire vessel was wrecked. The
that a large portion of our trade with the West Indies has been
cargo, 1,120 balss of cotton, was insured for $103,010.
diverted to New Orleans, as that market is, by means of its ex¬
Cotton freighta the past week haye been aa follows :
tensive river communication with t-lie West, enabled to under¬
r-Havre.-^
-Bremen.
Hamburg.
-Liverpool.
Steam.
Bail.
Sail.
Steam. Hail. Steam. Sail.
Steam.
sell, and still make more satisfactory returns to the miller. Rye,
c.
d.
c.
c.
c.
c.
c.
d.
1
flour and corn meal have been drooping.
To-day there was a
1®-.
X©..
1®
X
IX
Saturday 5-16®
The
last, continued without abatement
—
,
...
Monday...5-16® —
Tuesday... X®—
Wednesday X®
Thursday.. X®7-16
Friday.... 7-16®X
IX
X®5-16 IX
X®5-16 IX
X®-.
1
1
1
1
1®..
1®..
1®..
1©.
1®..
X
X
%
X
1®..
1®
1®..
1®..
good strong market, but witnout quotable improvement.
The wheat market was much depressed early in the week
6-16®..
;x
No. 2 Spring going as low as $1 47@l 48 lor Chicago, and $1 50
1
1®..
.X
x®..
IX
Liverpool, February 20—3.30 P. M.—By Cable from Liver¬ @1 52 for Milwaukee, with No. 1 selling at .$1 55@1 58, but a re¬
pool—The market opened and closed dull to-day.
Sales action set in on Tuesday afternoon, favored by an advance at
...
.
c-
February 21, 1874.]
llie West, and
THE CHRONICLE
stronger accounts from Liverpool, and in the
of
Wednesday there was a large business done for export
the continent) at $1 50@1 52£ for No. 2 Chicago, $1 54@
fpart to
1 56 for No. 2 Milwaukee, and $1 5&@1 60 for No. 1 Spring—
showing an advance of 2@3c. per bushel. Winter wheats have
remained quiet. Receipts of Spring wheat continue liberal here
and at the West, and steps have been taken to secure a more satis¬
factory manner of delivering and handling of wheat arriving
here by rail. To-day the market was about lc. higher, but less
course
active, and the close somewhat settled.
Indian
the
has had
corn
a
week, and at the close
steady downward tendency throughout
material decline has been established.
Yesterday, good average new mixed in car lots sold at 76@77c,
with good yellow and white at 78c ; new white Southern 80c, anc
a
yellow do 78c; old mixed in car lots at 82@83c. The receipts at
are not so large as last year, and
supplies here are
moderate, but our market feels the absence of a steady export
demand. To-day, at some further decline, the market was more
active: new Southern mixed, 72@75c; do yellow, 74@76c.
Rye
has been less active, but steady. Barley has brought full prices,
but in a small way only.
To-day 5,000 bushels Hungarian sole
at $1 90.
Oats have declined, with sales of Mo. 2 Chicago at 61^r
(a)62c, but the close is ratliei more steady. Supplies are below
the average, but the consumption seems to have fallen off materi¬
ally as compared with last winter. To day, No. 2 Chicago sole
at 61c in store, with the market generally dull.
Canada peas
the West
are
Previous week
Week Jan. 81
Week Jan. 24
Week Jan. 17
Cor. week,’73
following
are
198,463
891,687
225,351 1,087,125
227,782
The Visible
960,046
24.5,447 1,004,155
159,883
143,085
^
Supply
of
846,625
979,064
291,897
835,136
614.967
380,646
499.700
472,304
347.241
Grain,
306,957
61.600
18,909
50,763
45,587
33,120
55,665
43.W
23,274
5,580
3,69K
including the stocks in
granary at cho principal points of accumulation at lake and
seaboard ports, in transit by* rail and frozen in in transit on the
New York canals, was, on Feb. 14,1874:
Wheat,
Corn,_
bush.
In store at New York
.„
.*
450,539
220,092
850,000
188,619
Oats,
bush.
549,985
35.700
88,000
105,943
39,525
8,128,248 3,286.951
2,225.889 .158,791
8,865
Rail shipments
Amount on New York canals
747,429
58,800
33,452
803,560
78,105
....
86,599
160,000
265,716
161,120
24,113
22,700
22,187
94,870
190,000
155,000
350,039
462,407
164,509
142,621
1,400,000
57,922
204,000
79,189
820,802
36,079
1,199
684,329
103,627
bush.
72,332
9,879
289,798
92,783
578,626
Barley*
427,803
14,825
10,000
66.447
108,507
6,826
25,968
165,000
100,000
Total
11,400,954
Total in store A in transit Feb. 7,’74.10,911,842
“
“
Jan. 31.’74.10,532,552
“
“
Jan. 24,’74.10,727,165
“
“
Jan. 17,’74.10,087,180
“
“
Jan. 10, ’74. 9,913,343
“
“
Feb .15, ’73.6,380,475
*
bush.
1,183,387
Instore at Albany
Instore at Buffalo
In «t,ore at Chicago
In store at Milwaukee
In store at Duluth
In store at Toledo
In store at Detroit
In store at Oswego*
In store at St. Louis
In store at Boston
In store at Toronto
In store at Montreal
In store at Philadelphia*
In store at Baltimore*
1,059,000
7,102,685
5,666,488
- 5,413,672
6,662,955
5,519,307
5,404,896
10,295,529
400,800
22,402
28,083
3,850
80,000
5,000
280,000
2,835,672 1,226,795
2,733,010 1,028,216
2,644,987 1.841,836
2,689.694 1,517,487
2,530,394 1.663,088
2,428,838 1,791,871
8,487,152 1,667,295
Estimated.
THE DRY GOODS TRADE.
dull and unsettled.
The
197
the closing quotations
Friday. P.M.. Feb. 20, 1814.
:
improves slowly, with the gradual increase in the atten¬
|
Grain.
No. 2
$ bbl. $5 25® 5 75 | Wheat—No.3 spring,bush.$1 45@ 1 48 dance of
buyers ; but the business now doing is far below what
No. 2 spring
Superfine State and West¬
1 52© 1 57
ern
6 00© 6 25 !
No * spring
1 59© 1 62 is usual at this period of the year. There has been a considerable
Extra State, Ac
Red Western
6 75© 7 00
l 60© 1 62
influx of buyers from the West and South during the week, and
Western Spring Wheat
Amber do
1 68© 1
extras
6 60© 6 90
White
l 62© 1 90
their purchases are increasing the aggregate trade somewhat,
do double extras
7 CO© 8 50 Corn-Western mixed
go
72©
do winter wheat extras
White Western.
76©
82
though the majority of them are devoting themselves chiefly to
and double extras
7 00©10 25
Yellow Western
74©
80
canvassing the market, and examining the assortments offering
City shipping extras.
6 85© 7 25
Southern, white
78©
85
City trade and family
i Rye
1 03© 1 08
before entering into heavy purchases. Prices are not altogether
brands
8 75©10 00 I Oats—-Black
©
Southern bakers’ and fa¬
I
Mixed
60©
62
satisfactory to buyers, and are too high to offer much of a margin
mily brands
9 00<©10 50 j
White
61©
63 for
Southern shipp’g extras.. 7 50© 8‘ 50 Barley—Western
speculative purchases, so that where wants are not pressing
1 75©. 2 00
2 20© 2 25
Ryo flour, superfine
5 50© 5 90 I Canada West
there is a disporition to defer purchases until a later period, anti¬
Corn meal—Western, &c. 4 00© 4 40
1 75© 2 00
|
State
Corn meal—Br’wine. Ac. 4 50© 4 GO I Peas—Canada..
1 05© 1 40
cipating a possible downward turn in the market. The move¬
The movement in breadstuffs at this market has been as follows: ment from first hands is restricted by this condition of affairs, and
RKCKIPT8 AT NEW YORK.
EXPORTS PROM NEW YORK.
sales are made chiefly in small lots to sections where there is
1874.
Same
1874.
1873.
For the
Since time Jan. For the
Since
For the
Since
likely to be an early opening of trade. The jobbing distribution
week.
Jan. 1.
1, 1973.
week. Jan. 1.
week.
Jan. 1.
is said to have improved somewhat, though the purchases of the
Flour, bbls. 76.864
543,254
284,337
40.545
331,714
21,302
174.493
C. meal. “
2,870 - 38,345
30,889
3,846
21,312
4,120
22,209 retail trade are mostly in the way of domestic fabrics.
There
Wheat, ous. 678.500 4,435,730
631,712
418,186 4,434,311 38,287
738,573
have been no wide fluctuations in values during the past week*
Corn,
"
354,850 1,689,858
675,275 195,776 1,568,034 207,064 2,216,730
31,325
.Rye,
“
108,075
930
41,613
145,828
and the principal alterations have been in favor of sellers.
Barley, Ac..
42,710
183,599
243,579
6,700
Oats
196,015 1,241,758
949,798
3,523
14,518
950
3,510 Prints have eased up in some cases, and jobbers are making
The following tables show the Grain in sight and the move¬
leaders” of some brands of these goods, for the purpose of
ment of Breadstuffs to the latest mail dates:
attracting a more active distributive demand for general lines*
RECEIPTS AT LAKE AND RIVER PORTS FOR THE WEEK ENDINC
There are many irregularities reported in prices, and the trade
FEB. 14, AND FROM AUG. 1 TO FEB. 14.
Wheat
Corn.
Flour.
Oats.
Barley
Rye. seems to be drifting away from the new and judicious system
bbls.
bush.
bush.
bush.
bush.
busb.
adopted at the opening of the season, which they are unable to
(196 lbs.) (BOlbs.)
(56 lbs.) (S21bs.)(481bsA (5fi lbg.)
33,501
553,716
363,595 199,270
80,620
Chicago
24,611 adhere to unanimously during the protracted quietness—a fact
Milwaukee
32,516
480,134
20,320
21,470
27,976
10,960
Toledo
'350 that is to be regretted. The finances of the trade are in a fairly
103,561
305,437
95,856
20,981
Detroit
8,597
57,121
31,235
15,239
25,669
3,269 satisfactory condition, and do not show the effects of material
400
Cleveland
60,200
12,000
23,300
4,200*
Trade
Flour.
..
.
,
*
>
,
,
,
.
.
.
.
.
....
“
-
.
.
-
.
.
.
St. Louis
113,562
211,280
106,991
1,320,094
111,774
Total
Previous week
30,273
126,637
.
1.319,216
703,058
193,325
373,762
991,067
589,121
372,126
289,544
1,184,988
472,488
826,826
258.775
681.366
228,681
Uorresp’Lg week,’73.
94,157
’72.
’71.
’70
53.353
“
“
“
71,369
103,980
Total Aug. 1 to date. 3.515,615
Same time 1872-73.
2,991,7 !5
Same time 1871-72.. 3,089.165
Same time 1870-71.. 3,519,804
438,218
417,866
53,454.694 31,445,135
32,223,210 33,263,566
30,948,790 32,226,460
30,978,930 16,699,531
22,602
7,468
178,248
169,202
195,591
67,610
41,396
46,658
41,378
44,412
30,373
2.3,42-i
35.911
175,253
20,564
14,830,187 4,868,432 1,303,260
13,098,059 7,179,949 1,249,790
17,126,261 5,345,213 2,180.931
12,254,421 4,673,840 1,129,060
disorder.
Domestic Cotton Goods.—The demand for
full package lots
goods has not been very active, and toward
slight diminution in the volume of business.
of brown and bleached
the close there was a
With
jobbers, however, the sales have increased and there is a
liberal distribution in progress than for some weeks pre«
vious. Prices are steady in first bands and are without quotable
more
change, though some lines are offered at reduced rates by the
jobbers, for the purpose of pressing business. Desirable styles of
Shipments of Flour and Grain from the ports of Chicago,
prints are selling fairly, and the assortments comprise many
Milwaukee Toledo, Detroit, Cleveland, St. Louis and Duluth,
choice selections which have been designed especially for leaders
for the week ending Feb. 14, 1874
in the spring trade.
Flour, Wheat,
Corn,
Colored cottons are steady and sell with a
Oats,
Barley,
Rye
bush.
bush.
bush.
bush
Weekending—
bbls.
bush.
fair degree of freedom. Lawns and percales move freely at firm
Feb. 14, 1874
164,509
462,407
142,621
94,870
101,860
12,045
*
Estimated.
.
Feb. 7, 1874
Corresp’ng week 1873
Corresp’ng week 1872
Corresp'ng week 1871
Corresp’ng week 1870
RECEIPTS OF
96,933
74.515
50,411
49,105
132,045
44.921
44,821
119,039
485,324
483,455
354,423
70,734
85,342
154,611
441,987
Flour,
Wheat,
At
New York
Boston
Portland
Montreal
bbls.
77,578
bush.
Philadelphia.....
21,031
46,600
Baltimore
New Orleans
19,865
55,250
22,643
85,583
62,104
102,290
28.471
45.810
12,940
16,4*17
37,300
12,457
13,277
11,953
6,732
1,080
FLOUR AND GRAIN AT SEABOARD PORTS FOR THE
WEEK ENDING
Tota}
113,590
146,884
37,537
4,200
10.900
....
193,754
648,160
25,168
16,625
12.650
804,453
FEB.
14, 1874.
Corn,
Oats,
Barley,
bush.
bush.
bush.
320,309
31,308
169.540
25,901
1,992
7,800
30.500
6,006
920
47,000
35,800
6,875
201,500
fc‘1,366
6,500
6,315
18,095
....
680,569
253,848
800
....
...
45,101
rates.
Domestic Woolen
ket
Goods.—The clothiers have been in the mar¬
again for limited amounts of spring weight cassimeres, and the
increased somewhat by their reappearance, but
sales have been
thn
general movement is not especially active.
Fine grades of
goods are wanted to a fair extent and sell at
bush.
satisfactory rates. Medium and low graces are steady though
36,270
400 selling rather slowly.
Low grades are dull and to some extent
nominal. The raw material continues steady and sells fairly at
12,530 former rates with the
exception of the medium and lower quali¬
5,000
ties which have been shaded a trifle by sellers.
Worsted dress
54,200 goods are selling well at very satisfactory prices.
Rye,
....
both 3-4 and 6-4
[February 21, 1874.
THE CHRONICLE
Bleached Sheeting* and Shirting*.
importations are considerably
6-4
36 14-14X Pequot
46
nx Forestdale
Amoskeag..
below those of this period of last year, and it is evident that we
do
8-4
42
do
16
Gem of the Spindo
die
36
do
A.. 36
18X
14/*
are not likely to have very heavy stocks of foreign fabrics for the
do
10-4
12
Gold Medal..4-4
22
do
6-4
do
11-4
33
do
The supply is ample for the demand, however,
current season.
do
.10-4
35
iox
36
Green G
9
do
Z.. 33
9X Pocasset Can
as large amounts of the more staple descriptions of goods were
do
14
F 30
15
Gr’t Falls Q.. 36
Androecog’nL 36
10
do
FF. 36
do
S.. v 31
17
do
AA 36
brought over from last season, and the demand for specialties
Pride of West 36
11
do
M.. 33
do
8-4
32)*
do
A.. 32
do
11X Red Bank... 36
....9-4
adapted only to the spring tiade will not be very liberal. Stocks
37)*
33
do
11
do
...10-4
42X Hallowell Q.. 36
abroad are well cleared up, but the condition of trade in nearly
16
do
E.. 36
Reynolds AA 36
Arkw'rightWT 36
39
Standard....
36
13
36
all sections of Europe seems to be such that the consumption of Auburn
14X Harris
do
13
12
Hill’s S. Idem 33
%
Ballou & Son..36
14
Slatcrville... 36
do
36
do "
.31
10
goods will be light, and the foreign manufacturers may yet be
33
do
36
36
12X
13X nope
forced to look more to this country for a market than now appears Bartletts
33
Social C
13
36
Howe
16
Bates
do L
36
Ind. Orch.AA. 36
15
15X
doBB
36
probable.
Suffolk A....
17
do
H clw 36
16
Bay Mills
36
36
The importations of dry goods at this port for the week ending Blackst,neAA 36
do
D....
do
CC... 34
13
14X
36
do L
15
36
13
King Phillip 36
Feb. 10, 1874, and the corresponding weeks of 1873 and 1872 Boott B.
Thorndike B 36
19
camb. 36
11
do
33
do C
Dry Goods.—The
Foreign
...
35
40
45
.
.
is*
.
ioj*
-20
...
9
10)*
14)*
....
13
11
....
8)*
9
10
i2"
....
_
8X
X-ll
.
.
have been as follows :
•
do E..
..R
do
BNTERED FOB CONSUMPTION FOR THE WEEK ENDING feb. 19, 1814.
..S
do
1874
1873
,
1872
,
do w.
Pkgs Value.
Pkgs.
Value.
Pkge. Value.
do X
1.447
Manufactures of wool.. ..1,361
2,075 $1,062,209
$752,160 Cabot
$685,895
do
cotton.. 1,909
2,118
707,224
567,766
2,727
810,692
do
890
do
silk
590
677,552
487,276
1.083
928,866
do
975
do
flax
257,777
1,266
379,627
2.194
355,713
do
226,786
Miscellaneous dry goods. 1,275
8,494
200,635
1,191
350,630
Canoe
<
<
,
,
6,401
$2,323,190
WITHDRAWN FROM WAREHOUSE AND THROWN INTO THE MARKET DURING
TH®
Manufactures of wool— 1,082
$467,494
271,185
332,854
cotton.. 1,020
silk
274
flax
994
do
do
do
Miscellaneous
189.995
dry goods. 1,278
Total
Total thrown upon
278.535
852
227
$390,906
233,013
233,442
1,198
242,472
791
57,739
329,550 ‘
169.091
’
52,888
2,545
48,386
$1,218,016
9,270 3,567,610
2,323,199
8,984
2,621,499
do
do
do
Miscellaneous
cotton.
795
621
162
.
.
silk....
.
14.453 $4,785,626 12,929;$3,779,07l
flax....
Total
3,183
Add ent’dfor consumpt n 6,401
.
Total entered
aL
the port.
$418,520
134,489
24-2.950
112
412
29,703
3,584
151,353
105,660
26,345
4,132 ! $1,714,145
9,270
3,567,610
5,483
9,534
2.621.499
$498,478
450,264
502,750
1,438
Adriatic
Agawam F...
Alabama.
Albion A
Atlantic A...
do D..,.
do II.
do P.
do L fine
do LL...
..
.
..
-
36
ID*
36
36
9
8X
8X
12X
IOX
12X
36
36
37
36
37
36
06
9X
iox
«X
1-2-12U-
Appleton A
489
963
77
35,210
$819,806
2,323,199
N.. 33
do
m"
36
30
27
iox
Augusta
do
do
A
....
9
7
do
do
do
....
45
49
60
Width. Price.
Indian Head.. 36
12X
Ind’n Orch.W 30
8X
do BB. 33
do
C. 36
A. 36
do
do
d’w 36
do. 40
do
Laconia O
46
do
36
B
E
do
36
do
9-4
do
.10-4
...11-4
do
36
Laurel D.
....
....
....
16
17X
.
..
22
..36 9^-10
Bedford R... 30
7X
40
11*
Boott S
W
do
48
15'*
do FF.... 36
1*¥
Cabot A
36
11)*
Continental C 36
12X
Lawrence D.. 36
do
S.. 26
XX 36
do
do
LL. 36
36
J.
do
do
Broadway.
Conestoga D. 28
do
do
do
Crescent
G.. 30
S.. 33
W. 36
36
—
9
10
11
12
30
Dwight X...
.
do
E
T
do
Mass. J
do E
do BB
do M
do standard
Maxwell
Medford
'
12X
13X
16
46
36
13
16
1 1
1
....
10
35
40
9
13
OX
12X
10X
17
12
36
36
i-r
29
33
36
40
36
40
36
8X
...
10
9
10
11
12
nx
n
10 x
loX
12
10X
12
133*
18
iox
10X
OX
12
Iiarrisburg A. 36
11
do
B. 30
Indian Head.7-8
9X
11
do
D 36
113*
Nevada A...,36 93*-10
Pacific extra.. 36
12
..48
18
Pepperell— 7-4
..40
15X
do
do
...
Newmarket A 36
do
do
....
36
34
32
Brown
Appleton
12X
Amoskeag A....... 13
11
Augusta
Boott
12-12X
Lyman H
Langley B
30
36
^
35
40
10
9X
37X
42X
ox
12X
9
7
22X I
I
26
20
23
22
do
do
do
,
.
14 12)*
18X
Pendleton
do
..
27
27
Sargeant
do ..26
Fontcnoy 6 to 12 .. 27
13
Wamsutta. ..9-8
do OXX.... 86
18
40
45
do OHH
do....
36
...
...
18-19
18-19
25
36
5-4
9
16
18
Washington.. 33
Wauregan.... 36
13
27)*
...
i
40
45
...
12
I Weseac'mc’n.B36
do
•
1133
35
...
iox
33
do
30
...
..
10
17
Warren AA.. 36
Williamsville. 36
•
•
22X1
10
10
11
12
shirtings.
ID*
OX
fancy
10)*
DunneU’s
do
purples
do
checks.
Freeman fancies
do
ruby....
do Swiss do...
do
frocks...
do
pinks...
do
purples..
shirt’gs.
purples
Qkr sty
10X
frocks..
dbl pnk
Simpson mourn..
Solid blacks
10X
11
9X
Sprague’s froc’s..
10X
do
do
iox
10X
do
10
10
11
10
11
10
shirtgs
9
iox
ox
Anchor
American
10X
Amoskeag
Arasapha.
18
13
10X
80
32)*
37)*
14X
17
0
ox
10X
12
12X
16-17
Cordis awning.
Columbian
25-30**
11
13
Androscog’n sat.
7X
10
11
11
11
11
IOX
10
10X
10X
green&or.
T’rkey red
10X
10X
10X
palm robe
purples...
pink
11
16-17
Thorndike A....
15-16
do
B....
IJncasville A... UX-12X
16 -17
17
14
15 -16
| Union
14-15
J
17
16
13
| Wliittenton A..
BB.
do
do
12
U...
14
Pepperell, Idea..
sat.
do
15
..
12X
Pequot
Rockport
Laconia
13X I
11
|
brown
UX
Naumkeag sat..
13X I Suffolk
.......
10
Newmarket
10X
Hallowell Imp.
11
iox
1
Bags.
American
28 50
18
Amoskeag
29 50
Excelsior
Ludlow AA
Lewiston
33 00
20
32
25
15
9X
93*
9X
10X
Kearsage, sat....
10X
15X
26
28
33
40
10
11
11
11
fancies
fan & choc
Swiss rub.
Corset Jeans.
10
Ind. Orch.Imp..
1I
do
sat....
12X !
11X-12
USA Standard 28X in—
do
8oz.
24
10
fancies..
chuz rbs.
blue&wh
robes....
9
11
Canoe River....
Hamilton
11X
solids....
do
do
do
do
do
do
do
do
14
Amoskeag
do
...
iox
Boston
Hamilton
Lewiston A
do
B....
Massabesic
Otis BB
pinks....
10X
Eagle
12
11-12
M
Washington rbes.
do grn stripes
doipad’dfan.
9X
robes..
frock....
do
do
h’rcord..
do
fancy....
Oriental
do
robes....
do
purple...
rubies....
do
10X
purples..
do
do
do
shirting .
do
Jap strps
do
mourning
Wamsutta
10
9
Merrimac D fey.
do F pk&pur
do
G
9X
reds
do
do
do
do
do
iox
10X
.
10
do
do
10
do
ruby&bk
do
sol chks.
do
grn<fcoge.
do
palm . ..
do
c&rplks
Millers shirt's
Manchester
do
robes.
9X
10
Richmond’s
Mallory pinks....
do
purples.,
iox
*X
ox
ox
.
Peabody solid....
iox
10X
iox
OX
purples.
do
do
10
10
10
11
10
10
ox
ox
Hand's fancies..
Swiss...,
do
11
10
buffs
do
Pacific Mills
10
h’rcord.
do
do
do
10
10
Oriental shirting.
10
.
10)*
cheviot
9
0X
9X
8X
Garner’s fancies.,
do
purple.,
do
robes...
do
shirting
Gloucester
do mourning,
do
shirting
Hamilton
checks
do
Stripes.
40
45
50
Ontario A
B
do
do
C......
Powhattan A.,
do
B..
do
C..
31 00
33 50
43 50
50 00
31 00
38 00
45 00
33 50
Stark A
do C 3 bush
Phil a A
do B
do C
35 00
40 00
45 00
Montaup
32 50
..*.
Carpets.
Eng. Brussels. 1 75-2 80
Hartford Carpet Co :
I
best
Extra3-ply
1 42)*
I Imperial 3-ply.. 1 35
do do A No 1
Superfine
1 10
Tap Brussels,
95
Crossley&Son’sl 10-140 ! Med. super
I
Velvet, J. CrossSon’s
ley
&
Body Brus 5fra. 1 no
do
I
do
do
4
3
do
Bigelow Brus 5-fr.
4-fr.
do
80
70
00
no
Denims.
MassD
do
G
12
Pepperell
12X
12X
10X
Stark A
Cotton Yarns.
Empress 6 to 12...
14)*
27)*
32)*
37)*
7-4
...8-4
...9-4
..10-4
..11-4
Pequot.... ...5-4
Drills.
12X
12X
12X
17
22
14)*
10)*
Conestoga fancies
Carleton mourn’g
25
do
|
36 in.
I Ex twls“Polhem’s”
12)*
Whitinsville.. 86
10)*
10)*
pink
do
do
OX
9oz.
lOoz.
12 oz.
15oz.
Ontario twls. 29 in
do 31in (8 oz)
11
22)*
11
10
....
16
do
do
do
do
.
6-4
iox
9
48
15X
do camb.’
White Rock.. 36
do
do
do
do
do
Cocheco L.
do
robes
do
pinks ....
do
purples...
ID*
b.X
.
ID*
10X
.
11
OX
8
8X
10
12
..
19
.
36
Peoperell
Jap. strps
Amoskeag
do
purples
Bristol pinks
UX
13)*
...
26
30
40
do
do
do
10
...
Wachusett
,
45
50
10-4
do Nonp.
36
Waltham X.. 33
4)
do
.6-4
do
do
8-4
do
....9-4
do
...10-4
20
14
Peabody
10
9
Allens’fancies...
do
checks..
,
27)*
42)*
.9-4
do
12”
36
16
36
36 18-19
isx
„..
13 X
15
,
25
Print*.
35
40
45
12
11
10
..
do
40in... 30
Ontario and Woodberry
Great Falls.
Laconia —.
O.
N.
....
Cotton Sail Duck,
30
No. 5
No. 6
No. 7
...12-4
E fine. 39
R.
do
B
40
do
.10-4
do
Pittsfield A.
36
Pocaset Canoe 39
Portsmouth A 36
do
P 30
B 27
do
Saranac fine O 36
do
R 36
do
E 36
Stark A
36
do B
36
Swift River.. 36
Suffolk A..,... 36
TremontCC.. 36
Uliea
36
do heavy.. 40
do
48
do
58
do
76
do
86
96
do
do Non
40
Waltham F... 36
do
.5-4
do
..9-4
do
.10-4
do
11-4
Warren A
40
do
AA
40
Waterford W. 30
do
BB. 33
do
C... 36
do
A.
40
do
d’w 36
8-4 27X-30
9-4
323*
Woodberry, Druid Mills ! No. 8.
No. 9.
and Fleetwing.
No. 0
46
I
; Light duck—
No. 1
44
42
No. 2
j Bear (8oz.) 29 in..
do heavy(9oz.)...
No. 3
40
Mont.Ravens29in..
No. 4
38
...11-4
.
nx
ID*
86
Masconomet., 40
36
do
Nashua fine O 33
do
R.... 36
E
do
36
do
W
48
do
9-4
do
10-4
.
19-4
..
32X
36
...
PequotA
A.
Exeter A
Great Falls M 36
do
S 33
E 36
do
...
do
do
do
do
do
do
12
Mystic River.
iox
10X
.
do
do
Y.
Pepperell
..
17)*
do
9X
....
19
22
27
..
14X
Newmarket C
do
A
do
W
NT. Y. Mills..
13X
..
19
..
15)*
Ancona fancy ....
do Jap. strip’s
do oil colors..
American
do
gn & ogn
do
pnk chks
do
robes....
Anchor shirt’s..-..
Albion solid
do
fancy
do
suiting....
Width. Price
ox
10X
Langdon GB.4-4
36
Langley
Lyman C
36
9
Y.... 33
7... 36
40
77..
36
Star.
do
40
do
do
do
do
do
....
....
'Amoskeag.... 36
20
FranklinMfgCo36
14,467 $3,457,866
$3,133,005 13,402 $5,281,755
..
14X
36
....
do
do
do
vVe annex a few particulars of 'eading articles of domestic
manufacture our prices quoted being those of leaamg jobbers:
Brown Sheetings and Shirtings.
Width. Price.
18X
$836,367
8,984
168.263
152.037
133,461
460
.
iox
33
42
..5-4
6-4
100s 36
Loom
do
do
927
448
1.165
$325,835
dry goods1.1,145
do Cambric 36
Lawrence S.. 31
Lyman camb.. 36
36
Linwood
Masonville... 36
Masconomet.. 36
do
33
36
Maxwell
Nashua E.... 36
5-4
do
do
9-4
10-4
do
a*
36
9-8
5-4
27
17X
..
ENTERED FOR WAREHOUSING DURING SAME FERIOD.
v
7-8
24
16
.
46
GB.. 36
do
36
Lonsdale
do
..
3,945 $1,157,572
5.188
m’k’t. 11,040 $3,633,113
Manufactures of wool...
Langdon
..
4,648 $1,309,914
Addent’dforconsumpt’n 6,401
$387,952
677
35
40
16
16
17
18
Tuscarora XX 36
45
do
35
Utica
do ex hvy.
36
.5-4
do
.6-4
do
.8-4
do
30
9-4
10-4
42
X.. 36
do
10X
Clinton CCC.. 36
....
do
C
86
Davol
4-4 17-17X
do
42
22X
23
do
5-4
19
Dwight D.... 40
14
do
Star.. 36
16
42
do
do
18
45
do
do
17
do cambr. 36
36
Elmwood..
Fruit of the
SAME PERIOD,
800
894
316
633
8-4
do
do
11X
Chapman fine 86
8,984 $2,621,499
9,270 $3,567,610
Laconia
8
46
.
Total
iox
36
28
36
42
.
OX
I IXL
{ XXX
6 to 12
do
27
28
Amoskeag
do
B...
Boston
Beaver Cr, A A.
do
BB.
Carlton
Chester D’k B
24
19
11
20
18
I Columb’n
h’ybro
do XXX brn
I Haymaker....
Lewiston
22X
22 X
14
I Otis AXA
21*
do BB
19
22X I
n
Thorndike A..
Unoasv’e UCA.
York
Warren AXA.,
BB....
do
do
CC.
..
15
17
22X
21
19
17
Shipping # 25 ft keg
Min. & Blasting
PRICES CURRENT.
....
North River, shipping
BREADSTUFFa—See special report.
.
building materialsBricks—Common hard, afloat
3 75 @ 8 75
14 00 3 16 00
Croton
28 50 at 30 50
Philadelphia. ...
Cement— Rosendale
* bbl.
....a 1 75
1 10
Lime— Rockland, common
a 175
Rockland, finishing
36 DO a 88 00
Lumber—Soathe.n pine
25 00 a so oo
White pine box boards
White pine mercban. box boards. 28 00 a si oo
Clear pine
05 00 a 75 oo
Soruce boards* planks
24 00 a 26 oo
Hemlock boards & planks
18 00 a 20 oo
4 25
Nails—10@60d.com,fen * sheath...
5 75 @ 6 75
Clinch, 1 to 8 in. * longer
2d and 3d fine
6 50 @ 8 25
Cut spikes, all sizes
.@ 4 50
PaiJit8— Lead, white. Am, pure, in oil
@
11*
10
Lead, wh., Amer., pure dry
9*<2
u
»
Zinc, wh.,Amer. ary. No. 1
8*
12
Zinc, wh.. Amer., No. 1. in oil
11*®
Paris white,English, prime
2* a
2*
•
.
invc’e (N.Y., N.J.&Pa.)
Single dairies entire
“
“
Welsh tubs, per invoice “
“
36
36
38
20
@
@
@
@
COALAuction sale of
@
&
17
5 25
5 27*
4 45
COFFEE—
days.gl d.
23
gold.
gold.
26 ®
29 ®
25 * @
...gold.
gold.
gold.
gold.
gold.
Laguayra
Si Domingo
S&vanilta
32
27
27
27
25**,
25
23
25
gold.
Angostura
23*
24*
25*
26*
24*@
25*@
gold.
Native Ceylon
Maracaibo
@
@
....gold.
8*
Markets.
25*®
5*
Montevideo
Corrientes
Rio Grande
Orinoco
California
Maracaibo
Bahia.
“
“
“
“
“
"
"
Dry Salted—Maracaibo
25- @
21 @
24
@
Para..
California
Texas
E. /. stock—Calcutta
....
23*@
‘@
!9
16
17
15
&
19
@
@
®
®
®
@
@
19
....
“
•“
....
®
....
“
"
“
“
Wet Salted—Buenos Ayres
...
10
*'
.
*•
.Vft
11*
14
17*
13*
13*
25 «
20 @
40
23
Pig, American.No.2
Pig, American Forge
Pig, Scotch
Bar, Swedes, ordinary sizes
MOLASSES—
Cuba, centrifugal and mixed, new..
Cuba Muscovado, new refining to
22 @
80
SI
@
40
35
@
@
@
68
@
# gal
....(§)
2i*3
16
25
Bleaching powder
cm*.
Brimstone,crude, V ton
go’d.
Brimstone, Am. roll
#ft.
Camphor, refined
Castor oil, E.l.in bond, $ gal. .gold.
Chlorate potaBh
••
‘if*
2*
87 00
3
®
®
30
55
.
...
Cubebs, East India
’90
52 ®
52 ®
....&
8
®
“
Cutch
Gambier
"
“
Ginseng, Southern
Jalap
Lac dye, good & fine
Licorice paste, Calabria
Licorice paste, Sicily
Midder, Dutch
Madder, French
Nutgalls.blne Aleppo
Oil vitriol (66 degrees)
Opium, Turkey,in bond
gold.
5i
65
.<3
1 so a
....a
so a
20 a
3i*@
25
7
6
in
gold
"
gold.
potash,yellow
Quicksilver., r
Prusslate
gold.
Quinine
Rhubarb, Chins,goo 1 to pr
Sal soda,Newcastle
Shell Lac
Soda ash
^ngar of lead, white
cur.
V ft.
gold
a
a
a
a
512 *a
36 a
....a
2 50 a
35 @
7;
1 75 a
65 a
gold
19
io
a
a
8*
5*
6
l
1
37*
37*
‘80*
36*
'
28
9
7
17
3*
”36*
1 35
i'no
1 85
70
2*
2D
10*
FISH—
Dry cod
V CWt. 4
Mackerel, No.l, shore
20
Mackerel,No. I, Halifax
16
Mackerel, No. 1, Bay, late catch..., 16
Mackerel,No.2, Rhore
15
75
00
00
00
00
is 00
12 00
Mackerel.No. 2. Halifax
Mackerel, No. 2,Bay
a
a
a
a
a
5 75
22 00
17 00
17 00
15 50
ai4<0
@ !4 00
FLAXNorth River
Vft
15
a
18
3 00
a
a
5 »50
3 05
14
FRUIT—
Raisms,Seeaiess....
do
Layer, new
do
do
do
Sultana
13*a
Valencia
Loose Muscatel, new
Currants, new
Citron, Leghorn
Prnnes, Turkish
Prunes, French
Dates
Elga
Canton Ginger
a
a
6*@
...
V case.
Sardines, V hf. box.
cur.
Sardines, # ar box
Macaroni, Italian
Domestic Dried—
“
Apples, Southern,sliced, 1873crop..
do
State, sliced
do
do
do
quarter*
do
do
do
Western
do
....
Peaches, pared, pr. Ga., new
do
do. North Carolina*....
do.
do. VLginia
'—
do
unpared, halves & quarters
Blackberries
nominal.
Cherries, pitted...
GUNNIES.—See report under Cotton,
11*
3 40
<9
28“
13*
10
®
®
®
a
a
7 25
27
14^@
10*®
@
®
5 00
6 25
...Vft.
OAKUM
9
16
7 50
29
15*
8 @
City thin,oblong,in bbls. .#ton.gold
Western thin oblong, (dom.) ...cur. 41 50
V gall
®
11 *@
Sperm, crude
Sperm, bleached winter
Lard oil, prime
85
Palm
2!
8*a
14*®
24 @
STREET,
&
Olyphant
Co.,
MERCHANTS,
COMMISSION
Ilong Kong, Shanghai, Foochow A
Canton, China.
Represented et
OLYPHANT &
Co., of China,
St., New York.
104 IVall
Ever
66
&
ett
Co.,
Street, Boston,
State
®
@
&
@
HEARD
AUGUSTINE
&
CO.,
OF CHINA AND JAPAN.
Advances made on consignments
chandize.
of approved mer¬
John Dwight & Co.,
MANUFACTURERS OF
SALERATIJS,
PETROLEUMCrude.ord’v grav., Jn bulk, V gal
Crude In bbls
Refined, standard white
@
8*®
Naptha
SUPER CARB.
No. 11 Old
The Jobbing Trade
SODA, Ac.
Slip, New York.
ONLY Supplied.
PROVISIONS—
Pork new mess $ bbl
Pork, extra prime
Pork, prime mess cliy
15 50
at 15 75
13 50
IS 50
@
® 19 00
®
12 50 @13 50
22 (in @ 25 On
$ ft
10 @
10*
9* ®
9*
Beef, plain mess
Beef, extra mess, new
Beef hams, new
Hams, pickled
Lard
F. COUSINERY & CO.
Commission Merchants
IMPORTERS OF
RTCE—
Rangoon, dressed, gold in bond
Carolina, common to prime
FRENCH
®
7* t
8*
AND
SUGAR—
Cuba, inf.to com. refining
do fair to good refining
do
do
do
do
r>*®
7*@
8
prime, refining
fair to good grocery
pr. to choice grocery
centr.hhds. & bxs, No. 8 to 13
Molasses, lilids & bxs
-....
Melado..
Ho
do
FREIGHTS—
To Livkkpoot- :
Cotton
¥* ft.
Flour
V bbl.
Heavy gooda. .9P ton.
OH
--PTEAM.d8.
S. d
.
6® *
@.
45 0 @45 0
s'e'
tfbbl.
•.
•
10
10
8 0 at..
5 9 ®..
•
m
•
m
•
•
,
Wm
Pickhardt&Kuttrofi
IMPORTERS
3
AND
COMMISSION
10*®
9*@
l* CHEMICALS, COLORS, DYESTUFFS,
&c, &c„ &c.
SAIL8.
d.
s.
•
2 9®
82 6 @
....@
9 @
9*%
6
4
0®
6®
MERCHANTS
IN
9*@
«
■
NEW YORK.
7*
8*
9*@
8*®
•
Corn.b’lk & bgs. ^ bu.
Wheat, Lulk & bags..
V tee.
Beet
8*
10*@
*6*@
....
William St.,
10*
7*@
Manila..
Pork
9*
10*
7*@
S*@
6Y@
Defined—Hard, crushed
#ft
Hard, granulated
do powdered
Soft white, A standard centrif...
25 & 27 South
7*
8*
9*
9%@
grocery,
PRODUCTS,
6
9*@
fair to choice..
Brazil, bags, D. 8. Nos. 8 to 12
do
8*
8*
7*
10*@
Porto Rico,refining, com to prime.
MEDITERRANEAN
's*
6*®
R*@
do 16 to 18
do 19 to 20.
white
do
do
do
do
8
8*@
e*@
4 ®
7 @
7*@
Bav’a,Box,D. S. Nos. 7 to 9
do
do 10 to 12
do
do 13 to 15
do
do
n
10*
7*
11*
15*
8*
70
61
10*®
23
25
22
13
15
27
BEAVER
NEW YORK.
7*
Whale,bleached winter...
Whale, Northern
Yellow
@
®
@
®
@
15
9(3
4 **
(K)
72
62
75
85
87 '
@
@
ra
@
35
12*
12*
10
59
...
@ 45 00
prime light
II
23
SALES OFFICE:
AGENTS FOR
@
Menhaden,
Neatstoot
do
do
off A...
White extra C
21
Washington, Vestry d: Greenwich Sts.
10*
@
113
95
Linseed, casks and bbls
11
a
11*®
OIL
LARD
OIL CAKE—
do
13*®
27
4
35*
2*@
-
’
Vitriol, blue,common
5%
2*0
„
AND
2 50
4 00
2 90
4 50
5 50
pale
OILS—
olive, m casks
81
4*@
cur.
extra
@
@
@
.
....at
31 ®
“
LARD,STEARINE
50
72
3 50
2 60
pale
“
22
31
3
•*
Cream tartar
@
a
2K®
••
'*
Ginseng, Western
2 40
No. 1
No. 2
“
,
Caustic soda
Cochineal,Honduras
Cochineal, Mexican
;
Spirits turpentine
“
2Y<3
5%@
17X3
Bi carb. soda, Newcastle..
Bi chro. potash, Scotch
J. Wilcox & Co.,
LEAF
....
2 87*3 3 00
2 87*@ 3 00
2 87*® 3 00
Vgali.
48 @
Tar, Washington
Tar, Wilmington
Pitch, city
3*@
“
New York.
Street,
NAVaL STORES-
Rosin com. to good strain’d V bbl.
DRUGS & DYES-
ES,
PRIME
40
English Islands
35
33
35
24 %
....&
gold.
Wm.
100 00 @135 00
HO 00 @155 00
Hoop
Sheet, Ru?sla. as to assort
17*
gold.
17 @
Sheet, single, double & treble, com.
4*®
5*
Ralls, English
gold 55 00 @60 0G
Ralls, American
62 50 @ 65 00
“
Alum, lump
Argols.crud.e
irgols,refined
Vrsenic, powdered
Pine
66.*
COR L I
.
16
@
Vton. 35 00 & 36 00
82 00 @ S3 00
29 00 @ 31 00
41 DO @ 48 00
Store Pt'lces, each.
362 50 <&
N.Orleans good to prime
Bolts
,..
W
@
10
Japan.
REPRESENTED BY
E.
14
13
11
®
®
....
Yokohama and Iliogo,
..
il*@
17 ®
cur.
nlaugbt... gla.
MERCHANTS
COMMISSION
15
COPPER—
Sheathing, new (over 12 oz;
Braziers'(over 16 oz.)
American ingot. Lake
COTTON—See special report.
Smith, Baker & Co.,
24*@
‘
Chill
Pernambuco
Matamoras
Bahia
26
Domerara....
‘26
STREET, NEW YORK.
27 WATER
Dry—Buenos Ayres
grocery grades,—
Porto Rico
at
@
...@
OF
STEARINE.
Pure Lard Packed for West Indies,
South American and European
Scroll
a 20 00
AND
OIL
10*
@
9*@
8 ®
3*@
gold
MANUFACTURERS
DEALE.RS,
LARD
HIDES—
IRON- Pig,American, No.l
....
11 00
Rio ordinary cargoes,6O@90
do fair,
do
;
do good,
do
do prime,
do
lava.mats and bags
“
“
“
Cropol 1873
Crop of 1872
Crop of 1871
Crop Of 1870
14
4 85 &
4 75 &
5 17*@
5 20 &
4 35 &
JeweH,Harrison&Co.,
HOPS-
Scranton, Jan. 28:
Liverpool gas cannel
Liverpool house cannel
ISO DO
gold.225 90
#ft
Calcutta,buffalo
CHEESE—
Statefactory.com. to fan
State dairy, common to fair
@25C 00
@150 00
Calcutta, dead grefen
40
42
41
87
10
10
10
“
# ton.200 30
Sisal
Jute
•
BUTTER—
1 10
PROVISION
Russia, clean
Manila,current
•
.
Firkins, per
@
•
•
•
1 05
,
HEMPAmerican dressed
American undressed
'
•
® 4 25
@3 75
HAY—
5Y*
“
Commercial Cards.
GUNPOWDER—
GENERAL
Rolls
199
THE CHRONICLE.
February 21,1874.J
•
•
82 6
•
• » r
•
•
•
*
•
« *
d.
No. 23 Cedar
Street, New York.
Branch Offices in Philadelphia and Boston.
WM. PICKHARDT.
ADOLF
Partners
KUTTROFF,JGeneral partners.
B&DISCHE AN1LIN & SODA FABRIK,
Special Partner.
THE CHRONICLE
200
Miscellaneous
Cotton.
W. C. Watts &
Buildings,
CITY
47
afforded
by
friends, Messrs. D. WATTS & Co„ 126
our
Pearl street,
JOHN FOX,
Late Livingston, Fox &
Fox
COTTON Sc
&
PROVISION
25 William
L. P. S. MACLEHOSK.
Platt K. Dickinson.
Member N. Y. Stock & Gold Exchge.
I'owABb C. Dickinson,
Member N. Y. Stock Exchange.
EX¬
AWARDED MEDAL
Beware of Imitations.
Observe Trade Marks and real Name.
CHOCOLAT MENIER for Luncheon,
AWARDED MEDAL AT THE VIENNA
EX¬
THE
OF
Beware of Imitations.
HIBITION.
ALEXANDER MAITLAND.
Observe Trade Marks and real Name,
■
Robt. L. Maitland & Co., MENIER’S COCOA sold in and # lb. Packets,
EXHIBITION
THE
VIENNA
AWARDED MEDAL AT
STREET, NEW YORK.
Cotton
Tobacco
Beware of Imitations.
Factors,
General
and
Observe Trade Marks and real Name.
Commission
LONDON
on
Irvine K.
per
AWARDED MEDAL AT THE VIENNA EXHIBITION
Beware of Imitations.
MENIER’S CHOCOLA.T-POWDER, lb. Tins. and.
Sold in M lb. and 1 Plain
Consignments to
AWARDED MEDAL AT THE VIENNA
$
divided among 418 Stockholders, who are personally
liable tor all its obligations, to the amount of one
million dollars in addition.
Pays FOUR PER CEN1 Interest per annum on
Deposits subject to check at sight.
Pays FIVE PER CENT Interest per annum on
special Deposits remaining six months or longer.
trustee for ej-txtes.
D. R. MANGAM, President.
B. L. SCLOMON, first Vice-President.
B. F. BANCROFT, Second Vice-President.
JOHN C. CRU1KSHANK, Secretary.
Acts
as
EXHIBITION
Observe Trade Marks and real Name.
Chase,
cotton
1,000,000,
CHOCOLAT MENIER defies exceeds 8,000,000 lbs.
consumption all honest competi¬
buyer,
THE
YORK
Annual
AWARDED MEDAL AT THE VIENNA EXHIBITION
Beware ot Imitations.
Indemnity Co.,
Loan &
BROADWAY,
229
No.
Opposite the New Post Office.
Observe Trade Marks and real Name.
♦
CHOCOLAT MENIER Manufactory at Noisiel*
Sur-Marne,
Paris.
Nashville, Tennessee.
near
Warehouse &
REFERENCE.—First National Bank, Nashville.
Factory, SOUTHWARK ST., LONDON
45 BEAVER
TIES.
COTTON
for sale
CAPITAE,
&
JOHN J. BANKER, Secretary.
Winslow, Lanier & Co.,
Manufacturers and Dealers n
ARROW, BUCKLE Sc ANCHOR TIES
Manufactured by J. J. McCOMB, Liverpool, Eng.
WOOL, ETC.
BALING COTTON, MOSS,
Lehman, Abraham & Co.,
Lehman. Durr & Co.
New Orleans, La.
Montgomery, Ala.
Nkwqasb, Rosenheim & Co.,
Exchange Buildings, Liverpool.
CANVAS, FELTING DUCK, CAR COVER¬
ING, BAGGING, RAVENS DUCK, SAIL TWINES
&C. “ ONTARIO” SEAMLESS BAGS,
United
£Te
T O
Factors
Cotton
Duane
Banks and Brokers.
133 & 135 PEARL
Fine
LATELY OCCUPIED
Ross &
91 Front
COR.
IRON TIES
OFFICES
Sc TWINE,
And Agents for
Bagging
STS.
~
Street,
Dealers In
BAGGING,
NASSAU
Also, fine ROOMS FOR LAWYERS’ OFFICES in
same building.
F. & E. TILLOU,
Apply to
Rooms 5 and 6, same building.
Smith,
SPLENDID
LIGHT
LEt7
TO
AND
SUITABLE
Bankers, Brokers,
VENTILATION. ‘
FOB
Lawyers,
Rail¬
road, and. Other Corporations,
Manufactures.
IN THE
Henry Lawrence & Sons, DREXEL BUILDING.
MANUFACTURERS OF
BROAD Sc
MANILA, SISAL, JUTE Sc TARRED
192 FRONT
STREET, NEW YORK.
WALL STS.
ELEVATORS, FIRE-PROOF;
STEAM.
HEATED BY
The building not having been entirely
In time for occupancy last May, there are
very desirable officesVacant, which will be
CORDAGE,
FOR EXPORT AND DOMESTIC
TWO
USE,
completed
still some
let to satis
factory parties a moderate ratoe. Apply to
WM. H. LEECH, Sup’t, Room
or
to
BROKERS,
Street, New
c
York,
.PUTS
negotiated at the lowest market rates:
$50 for 50 shares, $100 for 100 shares.
Thirty-two page
explanatory pamphlet mailed on applica ion.
BY JAY COOKE & CO..
Sc
WALL
AND
Buy and Sell Stocks on Margin or for Cash.
Banking Rooms,
STREET,
New York.
%
and CALLS
THE
MERCHANTS,
Tnmbridge & Co.
.
39 Wall
AND
Threadneedle Street.
BANKERS
Bankers, Insurance Companies,
To
COMMISSION
Valentine
Street.
T
banks, bankers,
Company.
supply all Widths and Colors always in stock.
No. 142
Receive the accounts of interior
corporations and Merchants.
Agents for the sale of City, County, and Railroad
Bonds ; issue Letters of Credit for foreign travel.
CITY RANK,
Also, Agents
States Banting:
NEW YORK,
PINE STREET,
27
LONDON CORRESPONDENTS
‘‘AWNING STRIPES.”
A full
Brothers,
Lehman
COTTONS AIL DUCK
COTTON
STREET, N. Y.
80 WALL
BANKERS,
And all kinds of
SWENSON, PERKINS Sc CO.,
and Trust
Funds.
W. H. FOSTER. President.
Co.,
op the
$1,000,000.
Pay Interest on Deposit®
STREET, NEW YORK.
Brinckerhoff, Turner
SOLE AGENCY IN NEW YORK
FOR
NEW
Beware of Imitations.
tion.
commission
UNIMPAIRED CAPITAL
PAID-UP AND
Vanilla Flavor.
LIVERPOOL,
AND
and 1
Observe Trade Marks and real Name.
merchants.
Advances made
MENIER’S ESSENCE OF COCOA sold m # lb
lb. Tins, 2s.
lb.
CITY OF NEW YORK,
and 263 Broadway,
No®. 261
and 1 lb. Tins.
No. 43 BROAD
Balances,
be checked for at sight.
STREET,
CHOCOLAT MENIER for Breakfast.
AT THE VIENNA
made.
Bonds
New York.
HIBITION.
Special attention to future contracts on Cotton,
Lard, and Provisions. Consignments solicited. Ad¬
vances
which may
Manchester, Conn.
BROOME
BROKERS,
Street,
Securities, Gold, Stocks and
SALESROOM:
477
NEW YORK.
YORK.
NEW
J. B. Dickinson.
Hartford and South
Flash,
St., Cor. Exchange Place,
Accounts received and interest allowed on
SILK MANUFACTURERS,
EDWARD FLASH,
Late Flash & Graves.
Co.
Broad
bought and sold strictly on Commission.
New York, and Messrs. D. A. GIVEN &
SON, 64 Baronne Street, New Orleans.
25
Government
Cheney Brothers,
consignments, and all Information
on
Co.,
RANKERS,
Hee Quotations “Local Securities’* in this paper
sale of future shipments or deliveries.
Advances made
PLACE,
INVESTMENT SECURITIES*
oliclt consignments of COTTON and orders for the
or
EXCHANGE
Dickinson &
RAILROAD, GAS Sc
LIVERPOOL,
purchase
Financial.
Charles Otis,
Co.,
No.
21 Brown’s
[February 21, 1874.
40,
DREXEL, MORGAN Sc CO.
STOCKS AND GOLD!
Operations are much safer and more satisfactory
when made against “ Privileges,” the negotiation of
which we make a specialty. One hundred dollars and
commission wi'1 purchase a first-class “ Put ” or ‘‘Call ’
for one hundred shares of s ock, which can be deliver¬
ed or called at anytime in Thirty or sixty (60) Days,
according to terms of contract. “ Double Privileges”
cost from $250 to $400 per one hundred shaies, and are
in every way satisfacto y, as they cover a decline or an
advance. One hundred and twenty-five dollars and
commission will purchase a ‘‘Put’’ or a “Call” for
$50,000 Gold any time in thirty days; $250 and commie*
gion, sixty days.
STOCK and COLD PHI VILEGES ar-* becomingmore
popular every day, as it is not necessary to risk more
than amount paid for Privileges.
We have completed
a “Circular” fully explaining “ Privileges,” with prac¬
tical illustrations, whic we will mail to any address.
We refer by permission to Messrs. Van Schaick & Co..
Messrs. Scott, Strong & Co., James Struthe s, EsqNew York. All orders will have prompt attention,aud
further information furnished.
LAFSLEY
Brokers,
No.
Sc
74
BAXLEY,
Broadway,
@FedFRASER