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1
^ JHE
xmidt
HUNT'S MERCHANTS' MAGAZINE,
R83PRBSENTINQ THE INDUSTRIAL
VOL.
AND COMMERCIAL INTERESTS OP THE UNITED STATES,
SATURDAY, FEBRUARY
48.
NO.
1889.
23,
WUk Knding Ftbruary
1,235.
Wetlc JSnU't rib. t.
10
J».0«nt
Terms of Snbscrlptioii— Payable in Advance
For One Tear (Inoludlnn postage)
:
ForSlxMonthB
do.
Kuropwm Huiiscrlptlon (inolnaing postage)
6 10
11 28
6 64
EiirupOHu Hii:)gciiption Six Montli4 (Inclncllng postage)...
A-onual sulisorlption In lioadun (Including postage)......
Jt'i
HUMOB.
«1
do
do
718.Cj99.2i8]
$10 20
do
7b.
8b.
Sala of—
iStMkt
[Cotton
...iharei.)
(1.717,1251
(KOl.HOO)
tn/M.
....
lOrMn
hiuheli.)
.
{Petroleum..
bbU.)
Boston
the inch.
Saltlmore
•absorlptions
Kt Is. eaoh.
a.
C, who
and advertisements and supply single copies
WILLIAM
iriLIJXM B. DAMA.
fUHM
1 Drapers' Gardens, E.
FLOYD.
of the paper
Chicago
&
Co., Pablimiers,
NEW
Street,
YORK.
Post Officb box 958.
—
;
August
25,
on pagd
219.
In the aggregate of bank exchanges for the week ending
February 10 there is a decline from the previous week of a
little less than twenty-nine millions of dollars, practically all
of which is at New York, the total for other points exhibiting
in the aggregate a falling off of only about three hundred
thousand. Ths various cities show very moderate chmges,
and the result is that thi totals in the New England and
Western sections are sligitly greater than a week ago, while
in the Middle and Southern divisions unimportant losses are
recorded. Our statement now includes a number of new
clearing houses, two of which, Sioux City and Taooma, had
no existence prior to 1889,
Instituting comparison with the corresponding week of
1888, we find that the current returns are generally of a very
favorable character. Of course there are a few cities which
exhibit losses from last year, but the falling off, except in one
instance, is not large. The heavy percentages of decrease
recorded from week to week at Los Angeles are due entirely
to purely local causes, which have nothing to do with ordinary mercantile transactions. The effect of the more liberal
marketing of cotton now than at this time in 1888 is
noticeable in the reports from Southern cities. In ratio of
gain Duluth bads all the cities this week with 93-3 per cent,
being followed by Galveston 75 4, Denver 51 '3 and Topeka
89-4 per cent.
4-25-1
-t-12-5
104,716,934
4-18-7
-flS-B
6'1,977.174
12,840,318
-fl94
-ne-B
11.412.085
12.528,753
4-26-7
4-6-6
88,988,866
77,945.4251
-fU'S
90,918,012
+88-8
a?.4a4,872
61.943,.eifli
9.«)2,,3501
4 20-2
60,614,004
+iro
•i-11-1,'1
ll,2tl4,45(
+2-1
3,l<t2,'.47,'3.8*),'.«2«
-(8a-6
5,222,109
+289
5
-H3-7|
4,5:j8,473
+88
8.294379
+t8-4
-I9'9
66ii,n2
-i-10
2.8*,.7711
2.154..Hid,
1.8.S0,,4efl
1.S72,,69(l!
658,,b97'
+4-4
+80-2
-71
2,001,437
1,797,254
-fl4-3
1,«S5.«'I8
8
673313
-fl8 8
T»l-»
-1^0
—\T4
91,956,901
78,174,540
'+17"8
~90,98J,242
+i*»
16,206,89<1
17,0afl,0S7
-5-0
l£ansaaCitv....
.Minneapolis....
9,124,368
3,482,97!
-1-Sl-D
14,171,179
9,070.310
3.172.714
4-»4-8
ll-«i
3.21)5,924
4-S20I
3,713,126
Total Middle Western
8„'>57,a30
a, >^ 36,868
2.9!) 1.253,.i2s.72ll
Omaha
8,«K338
2.981, 5Sa
Denver
3,480,981
l,w;0.06B
2,:)00.l5ll
-(-5r3
3.437,6e'-
1.01»,0:«
1.325,934
l,3»3.70il
68i.n;8i
286,517:
-193-31
2.315,1»4
1,332.85;
Sl^.S'M
719.055
St.
Paul
Daluth
l,418Af5
Joseph....
Los Angeles
Wlohila
084.800
706.05:1
8t9.8>:e
Toneli**
RIonjfOlty'
46i,S13
Tdcoma*
3il3,78«
Total Other Westerr,.
St.
Louis
New
Orleans.
Loalsvii le
,
Memphis
Richmond
Total Southern
Total
-l-7-li,
— 60'5;
+3-7
New York
'
-1-39-4
613,219
4V1.1MS
300,820
—86
-0-2
—18-6
+31-8
443-9
+92-8
-2 7
-4*1
-4 8
+U»'l
44,559,50;:
40,210.751
-rlO-8
~4&5i9.810
+7-8
1P,1('9.0I4
17.267,677
+112
t2,0BI.291
7,u"l,242
9.405,745;
-f28-6
19.218.5lf
14,480,028
4-2«-6
5.90O.21^
1-1)32
2,3-0,(00;
l,3;s,74«
1,004,082
1,-Oll.MOt)
46,405,7251
88.140,617
4-32
7h6,9i6
919,27i
<
4-75-4
4-6-3
-I-21-7J
+8-8
7,8:13.980
+153
3.380.H47
2.1 14.318
+S8-3
+17-5
4-418
1347.962
l,l'08.122
-1-19-6
48.812,127
"4-14-9
1
«>9,3313 77
4»S'1 11.184.848,438
487-8
377.67(^573!
8^8,0767:14
4-15
877.988.175
+M-8
11 ,695 , ^69.8 11
Not Included
"
-;
j
all
Ontslde
-H58
2,';fl(.647
.-t.,
Uaivestou
Norfolk
li
in totals.
The returns
of exchanges, as received by telegraph this
evening, cover only four business days, Washington's Birthday having intervened. Compared with the five days in 1888,
which included a like number of days, there is a gain of
13-6 per cent.
Our estimate for the full week ending Feb-
ruary 23 indicates an increase over a year ago of about 18*3
per cent.
Bttunu
by TeUgrapK
New York
WUk >mr« I». 18
Wuk Bndmo rtbruary 23.
1888.
18)- 9.
P. Cent
18F9.
S83.108S39
+16-1
P.
Omt
4-86-9
49e,8til.l«3
874.S84.578
(810.509
«3,4W*,7i2
(628,844)
(-1^16-8)
6«.238.bi)6
+13 8
76,003,784
+7-8
Philadelphia
Baltimore
46.40A.'04&
42.034.011
+10-4
52.846.493
+18-1
7,S-<«.393
8.003.4S8
-1-8
10.1118,497
ChiesKo
4a.8l8.O11O
40.777.-000
+01
61,291.000
+18-5
+18-2
isio^isss
i«.aa7,«T'>
+9
6383^001
-10-8
+16-9
I5,84-^,)i47
7,753,919
9,997,130
+19^8
el&.72'«,o^l
&42,lOO,49»
+136
"7i»8,«92.759
165,617,28»
114,102.4--'8
+45-9
I83.2«9,ia0
781.370,1I<I0
158,904,981
+19
413
1
9ei,gi)l.K»
+2»4
4831
~+«»9
11.1.831.108
414-5
+188
1,095,853,967
+«1
8<il«s
0/
StMk
(slMTM).,
Boston
•
Operations in shares on the New York Stock Exchange for 8t.LaaU
the wef k embrace a market value of $100,810,000, against |3^- New Orleans
Total. 6 days
518,000 for the similar period a year ago.
Pursuing our usual
method of deducting two and-a-half times these values from the
New York totals, leaves as the exchanges arising through
other business $451,074,238 and $430,959,663 respectively fc
the two years, or an increase of 4"7 per cent.
7ai,85i*l
+»!:
San Francisco..
nt.
CLEARING HOUSE RETURNS.
-+232
68.480,202'
10.204.288
io,;8i,8;6
l.B9W.7;.bi
1.5n8.!i87
Qrand Rapids..
-f8-l
(•27,'.;s-.!
¥T9
+8S9
U4,005,37«i
8.284.050!
S.lP8.?30l
Peoria
be found the detailed returcs, by States
of the National banks, under the Comptroller's call of December 12, 1S88, kindly furnished ua by Mr. Trenholm. Previous
returns were published those for October 4 in the Chronicle
of December 8, page 704 those for June 80 in the issue of
ve ill
-(66
1,097,683,
1,088,8201
915,7n>,
4-16-8
4.2n7.30l,
Indianapolis...
— Ou page 247
-01
1,706.20-?;
(-5011
4-13-6
5.iiS8.1M
OolnmbDs
S
-t-4-6
10,7-.!u.3.'j0
,
Milwaulcee
Detroit
Cleveland
-1-6
948.57S
819.839
{
lS!,289,22f
Total Middle,
i
e-'>«.89
911.444
Cincinnati
K. DA1VA
lOX William
'
will take
4-IS3
-l-lS-4
64.15S,3H
Edwards * Smith,
92,136,384
6,126,900
2,192.787
1,870.581
1,S32,"2«
S2,8!)4,91«
5,01;).000
105,780,037
Messrs
(-«8-«l
(-83-51
93,722,148
Philadelphia.
Pittsburg
I.«iidon Aeentut
1623.800)
(27,0ai,5«5)
(8,013,000;
(+Sftl
(— U--0)
i.(iie,Biw!
7&l<,»5o:
Total NewBngland...!
1-9U
(38'>,40il),
(ij,02«,000)
Worcester...
Portland
Lowell
A
4-184-8I
(,S.),«l)l,«e,5
Snrlagfleld...
New Haven.,
+83-0
74«,!f&t.!H8|
(1,8.15,824>
(21,2dS,O0Oi
AdvertlsementB ordered for less than one month, in the Commercial,
FiNANCiAt. CiiKosin.E. are publlslicrt at 25 cents per line each inserWhen orders are itertnitely given f«>r one month or longer, a lll>
tion.
eral rtiscoant is allowed, and the nel pricct may be obtained on application at the otllce. The lowest rates on permanent cards dBtiiiitclv ordered tor one year are 8 cents per Hue each insertion, maliiug $58 tot
one Inch space one year. Space is measured in agate type— 14 lines to
Terms of Advertising.
-h.leZ;
I708,se0)!(+ 148-8)
(:w,V!;a.4i)5ii
&.«02.8i«i
1,704 ,36)<;
J,lo7,557
1,191,970!
Providence..
Hartford
S27.254.68jl
Omt.
P.
Kstlmated
.,.,.,
1 day...
.,
Total fall week...
Balance (>>anti r*
'
101.649,148:
87.951,408:
883.0 19.408
744.154,.383!
Tutal^week,
all.......'
Tor the
weak, based 00
full
last
weet's returns.
ll,481.784> (+818-1)
.
THE CHRONICLE.
232
shows a gain to the Bank of £127,000 bullion, there
having been, according to a private cable to us, an im-
TEE FINANCIAL SITUATION.
There has been no
week.
The
special
XLVm.
[Vol.
change in money the past port of £64,000, and receipts from the interior of Great
the interior has Britain of £248,000, while the exports (principally to
inflow of currency from
been smaller than it was some weeks ago, and the out- the Cape) were only £185,000. Of course the future of
flow has continued larger, while, including the export money at London will largely depend upon the moveBusiness continues active there.
of gold, the Government movements net a small accu- ments of gold.
The
Alto- open market rate at Paris is 2 J per cent, and at Berlin
mulation in the Treasury during the week.
gether, therefore, our banks are not likely in the state- and Frankfort If per cent, there being no change on
ment of to-day to report any considerable change in the Continent from last week. The political situation
money. Last Saturday the at Paris seems to have had no effect on the money
comparative figures showed a surplus reserve of about market.
Our foreign exchange market has been firm all the week
17i million dollars, or very little less than the amount
held at the same time a year ago, although the total at 4 87 for long and 4 89J for short.
Eates for actual
currency holdings were 1126,817,700, against $113,664,- business are not quite up to the gold-exporting point,
600, the explanation being that the deposits were over and yet $500,000 gold was sent to Europe on Wednes-
their holdings of lawful
Of day by a banker who found
55 millions in excess of the same week of 1888.
it cheaper to ship the metal
than to attempt to j)urchase bills. This is the first
able portion of which bears interest) represents just so movement of gold as an exchange operation since 1887.
much more capital seeking employment here, and we Bills appear to be scarce, although our exports of
find the loans had increased about 42 million dollars cotton, corn and provisions are large.
But the imports
during the twelve months. Besides, as no institution of merchandise remain free, and the demand is suffi-
course this large accumulation in deposits
consider-
(a
wishes to pay interest on idle money, these loans must
cient to
be kept up
Switzler of the Bureau of Statistics has this
and hence the competition in the
call loan market has been very active this week, some
banks authorizing their brokers to offer round lots of
money at the best price it would bring. This eagerness (which has led to offerings against one another)
if
possible,
absorb
the drafts that are
all
made.
Mr.
week
issued
the preliminary statement of the exports of breadstuffs,
cotton, &c.,
which shows the
total values this
January
153,785,592, against $46,141,283 last year, or an in-
As stated, however,
crease of over 7^ million dollars.
seems to have demoralized that market. It is evident the imports are large, being probably for the month as
from such a condition of things that paying interest on much as 4^ millions in excess of last January. The
deposits tends to induce an unsafe expansion of credits,
export statement referred to is as follows.
and
at times unremunerative business to the bank
hence, theoretically, one would say, as it often has been
said, that the practice should be put an end to, and
;
yet
it
continues, and no doubt will
conditions being such that
we
see
continue, business
no hope of
its
ever
being stopped.
For the reasons stated, call money, as represented by
bankers' balances, has loaned no higher than 2 per cent
and as low as 1 per cent, averaging less than 2 per cent,
made at the latter figure. Some
banks also have put out call money at 2 per cent, but th,ose
operations have been special and few in number, the
minimum rate among banks and trust companies beiag
2^ per cent. For time money there is a very limited
demand, while the supply is abundant. Banks and trust
renewals having been
BZFOSTS OF BKEADSTCFF8, PROVI8IO.S8. COTTON AND PETKOLECM.
S.
1886-87.
1887-88.
Ext(yrt>
from a.
January.
7
January.
Montlu.
7 Months.
January.
:
7 Montha.
Quinttties.
Wheat-boBli,
3.17S,59d
33,119,891
2,913,807
47,954.877
Flour... Wis-
685.244
6,665.394
1,023,923
7,266,589
1,072.577
6,624,021
Wheat, .bn.
6,857,191
57,164,164
7,420,860
80,854,527
12,883.257
89,460,329
Oom...bu«l»-
0,342,171
31,138,699
1,049.048
14,194,118
4,181,124
£1,:3S,694
Tot. bosb.
15,399,365
9,069,9US
94,848,046
74,SS3.852| 12,358,217
floUr
6,26r,33b
Corn A meal-
4,470.405
50,238,291
16,440,049
t
7.299,806
996,140
100
57,781
^2.029
11,354
31,3,130
765.416
10,838.!i2»
73.814,700
t
Foluei.
Wh't *
Rye
a.
Oats & meal*
Barley
Br'dstuflS-
ProTlslons
Cotton
Petrorm,&c.
*
8.058.6611 59,6)2.225
17,004,381 110,689,023
t
(
80,956,928
7,705,660
2,083,121
10,593,709
410
12.219
4,800
82.968'
41,645
41,029
60,087
421,696
14,175
183,247
126,986
8,343.298
83,501,761
6,826,980 53,593,13«
57.209.864
27,700.381 167,954,389| 27,060,707 156,821. 099
3,020,298 27.790,741
4,099,280 S9.933.470'
11,152,757
766,.^88
92.789,003
8,131,444 58,792,191
30,010.848 149.026,145
3,759.237 28,075,880
14,528.809
Tot. Tslne, 63,785.692 318,913.4231 46.141,283 3tM.5ii7.aW 57.a3n.838 334.28J.22&
companies are as a rule out of the market, but large
banks and trust companies are
There are important facts worth noting by our specuofEering liberal amounts, stipulating only that the secu- lators in wheat suggested by the foregoing table.
The
rity shall be first-class and giving borrowers the choice strength of the wheat market is largely based upon the
of dates.
Such loans are being placed at 3 per cent for prospective wants of Europe out of this crop. Is it not
sixty to ninety days,
per cent for four months and possible that those wants may be overestimated, some
4 per cent for five to six months. There are no changes part of the anticipated consumption being turned on to
institutions other than
^
in the quotations for commercial paper
has increased during the week, but the
;
the supply
demand
in
is
excess of the supply, nearly all the banks in the city
being in the market.
Money in London has been a little
The cable reports discounts of 60-day
bank
bills
at
Bank
know no
reason for the change, except
of
England remaining
to natural causes,
added
of the
of
corn,
against
need be thus supplied ? Note
we exported 9,342,171 bushels
1,649,048 bushels in January, 1888,
and 4,181,124 bushels in 1887; also in December last
the exports of corn were 5,272,108 bushels, against
three months' 2,179,013 bushels the previous year (1887) and 3,320,225
to
last Fri-
at 3 per cent.
it
may be
We
the rise
in foreign exchange here last week, and the small
shipment of gold this week. The recent activity at London
was due
and a portion
that in January this year
easier this week.
^ per cent, against 2| per cent
day, the
corn,
to a renewal of the ex-
Hence it appears that of this cereal
bushels in 1886.
we have sent out in two months 14,614,279 bushels,
same two months of last
Of course the much lower price now ruling
would naturally develop a consumption of corn for
manufacturing purposes and also for animal food, so
ao-ainst 3,828,061 bushels the
season.
'
demand for gold and the movement of exchange at the part of the increased export to be allotted to man's
New York to near the export point, may have relieved food, and thus taking the place of wheat, cannot be
port
the market.
;
There is, however, the present week a
further considerable shipment to the Cape
; still, the net
determined.
Still this
Speculator to watch.
item
is
Another
a good one for the wheat
fact,
bearing on the same
Fbbbuakv
THE CHRONICLE
33, 18tO.J
is that the exports of wheat do not fall off so
rapidly as anticipated, the movement from the Pacifit;
It will be seen that we sent
States being still liberal.
point,
its
233
management has been attended with marked
cess,
notwithstanding that
sucthe policy pursued in the
matter of extensions and additions has been quite dif-
In a year of
out in January of wheat and wheat flour 6,^57, lilt ferent from that of other Western roads.
bushels, and that since the first of July our exports of such depression, however, as that which characterized
have amounted to 57,164,164 bushels, whicli
is more than some judges last summer would allow lor
the whole year.
The statement of anthracite coal production which
Mr. John II. Jones, the accountant of the companies,
has this week issued for the month of January, pos-
the
sjinie
Accounts with
sesses an unusual degree of interest.
regard to the condition of the trade continue very
It is alleged that there is scarcely any
unfavorable.
for coal, and that this accounts for the piling
up of stocks at the principal points of accumulation.
The companies have furthermore announced tlieir
intention of stopping work at the mines two days in
each week, until further notice, which certainly is evi-
demand
1888, the Alton had to suffer with the rest.
Hence
it is
no
surprise that, as compared with the previous year, gross
earnings show a falling off of $1,429,921, and net a
falling off of $837,803, and that both gross and net are
the smallest for a decade
—that
is,
since 1879.
We
shall
hope to review this company's operations at greater
length another week, but in the meantime would direct
attention to President Blackstone's remarks upon the
situation and the causes leading up to it.
We give
these remarks in full on another page, and they will
certainly repay perusal and study.
Mr. Blackstone
treats the matter in a graphic and suggestive way, and
there is an air of originality about his observations and
comments which makes the paper a notable one, and
dence that the conditions are not altogether satisfactory; ensures for it a leading place among the contributions to
may also be accepted as an earnest of the the literature of this important subject.
determination to hold up prices if that can be
The St. Paul statement is simply the usual preliminsuch action
Thus
been ary summary, issued in advance of the annual pamphlet report, but of course gives the outcome of the
Of course year's operations. Stated in brief, the company lost
a rule adhering to schedule quotations.
The
everybody understands that we are having a very mild $498,393 in gross earnings and $3,549,053 in net.
winter, and it is also supposed that domestic consumers Chicago & Northwest, in the same year, as shown by
all of our figures last week, lost $1,307,750
in gross and
laid in unusually large supplies last autumn
which would seem to indicate a greatly diminished $2,450,005 in net. Thus the St. Paul did much better
demand. But what do the facts show? Allowing for in the gross, but not quite so well in the net, though
the changes in stocks at tidewater points, we find that the the difference in this latter case is not very important.
consumption (or quantity gone out of sight) was larger The greater part of the loss of course occurred in
in January this year, with the weather mild, than it was the first six months, the falling off in the net in that
while
in
the
having been
in January last year when the weather was unusually period
$1,787,005,
severe, and when a double strike (one in the Le'iigh last six months the falling off was only $763,048.
and the other in the Schuylkill region) had engendered The gross the last six months actually increased
Here are the figurtg $140,989. The exhibit fully meets expectations in
fears of a possible short supply.
substanti siting this assertion.
fact, is better than most persons had supposed possible.
What seems especially encouraging is that in the face
AnthractU Coal.
done.
the only
far
individual
operators
have
ones making concessions, the companies as
—
—
January.
of a decrease of $3,549,053 in the net
1889.
Stock
beKinnlng
of period
Production-
1888.
1886.
1887.
18t8.
1884.
'
Tbfw,
625,156
Tbrw.
130,977
8,622.629
2,265,692
Tons.
372J882
2,243.312
7bn».
754.545
Tan*.
874,681
2,338,271
1,641,803
lont.
increase of -$592,339
together $3,141,392), the
l,S9l',"i72
and of a coincident
(making
in interest requirements
company not only earned
all
charges and the 3^ per cent dividend paid on the
preferred stock last October, but had left over a balance
its
SttDply
at'k end of period
8,274,685
2,.'J86,869
2,615,504
95,188
475,448
3,092,816
779,004
2,51«,4&4
807,314
887,101
837,937
ConBamptioo..
2,487,371
«.a91,50l
3,140.146
2,313,812
], 679,380
2,000.915
Thus apparently the consumption
2,647.902
in 1889 reached
of $119,303
on the income for the twelve months.
The
impression prevailed that there would be a deficit for
it was only 2,391,601 tons the year.
The actual result therefore is an agreeable
and in 1887 but 3,140,146 tons—the 1889 total being in surprise.
fact the largest for all the years given.
What then is
The course of the stock market this week has under-
2,467,371 tons, while in 1888
the cause for the present
unsatisfactory situation?
It
found in the fact that the output was much heavier
(over 366,000 tons) than a year ago, so that notwithstanding the increase in consumption, production was
in excess of the same, thus reversing the condition of
Moreover last year stocks at
things existing in 1888.
the beginning of the month were quite small, and with
consumption in excess of production, a further diminution occurred during the month, so that on January 31
the total was only 95,168 tons.
This year the companies started with 653,156 tons, and at the end of the
month stocks had reached the very large total of 807,314
tons. Under the circumstances restriction of the output
would seem to be an absolute necessity, and the man
agers are wise in adopting that policy.
Two important Western railroad companies have this
week Lssued statements showing the results of their
1888 operations namely the Chicago & Alton and the
Chicago Milwaukee & St. Paul. The Alton of course
•has always occupied a position of great strength, and
is
—
gone no important change, though there has been less
activity and also less strength.
Yesterday, being WashThe
ington's Birthday, was of course a legal holiday.
rest of the week fluctuations were governed largely by
the varying reports with regard to the course which
the roads objecting to the Inter-State Railway Associa-
would pursue, and the probabilities of their finally
coming into the Association. The attitude of the Hlinois
Central was definitely settled on Wednesday, by the action
of the Board of Directors in declaring that the'y could not
tion
assent to the signing of the agreement, but pledging to
it
moral support. This left things in an uncertain
state, and it was not till after the close of business on
Thursday that the fact developed that the Association
was to be formed anyway, without the objecting roads,
the Burlington & Northern, Kansas & Texas, and
their
Kansas City Fort Scott & Memphis, in addition to the
Another
Illinois Central, having refused to sign.
important development of the week has been the
perfection of a similar association
among
the Presidents
—
.
THE (CHRONICLE.
234
[Vou XL\III.
Northern Pacific and will keep the agreement, though it cannot be part of it.
hare Whether that declaration is putting one's influence for
Union Pacific, with the Oregon Navigation,
or against the reform, is easily determined by the united
Oregon
in
lines
the
•effected an arrangement by which
voice of the destructive element in our markets the
trustees
by
operated
be
and Washington Territory are to
Keturns of railroad refrain now heard as the echo of the Central's action,
for the joint benefit of all parties.
continue quite foretelling the speedy demise of the whole movement.
gross earnings for current weeks likewise
But, in spite of the croakers and kickers, the moveNorthwestern has
favorable as a rule; the Chicago &
This specific arrangement made by
ment
will not fail.
of
showing a gain
this week issued its January figures,
come to grief. We think not
may
roads
the
Western
Pacific
141,956 over the same month last year. Union
though
a present disaster very
that,
Yet
but
may.
it
no
now
has been rather weak on reports that there was
effects should it happen
would
its
marked
by
distinctly
Congress,
in
hope of the passage of the Funding Bill
event
only
in the history of
minor
as
a
be
remembered
for
break
sharp
a
and Oregon Improvement stock had
return the emergency. Men, however strongly intrenched they
reasons not clearly defined, though the Dec»mber
more unfavorable than at first think they are, cannot block a reform once in motion.
of the trunk
lines.
Then,
also,
—
—
—
of net earnings proved
Missouri Pacific has also been depressed at
Elevated, on the other hand, and
Manhattan
times.
reported.
Mr. Gould
Erie, have evinced considerable strength.
resigned as director of the Lackawanna, pleading ill
The coal
health and inability to attend to his duties.
uasatisfacstocks, however, have been attacked on the
New
banks
Wuli ending
SMvpei by
T. BanJu
Receivti by
Feb. 21. 1869
JV.
r. Bankt.
1,371,000
Oold
tl,138,000
181,000
Total gold and legal tenders
.
»1.438.''0T
»l,555.')fl0
.
«62,0U0
Loss.
Gain.
Gain.
»1 19.000
that direction
—
courting harmony.
in the history of the
Still
another favorable circumstance
is the signing and put-
movement
week
new agreement of the
Trunk lines. In its pres-
of the
ent shape, the compact promises to be both effective in
Net Chanoe in
Out of Barlkt.
Banks Interior Movement, asabove
.Sab-Treas'y oper's and gold exp'ts.
»1,55»,000
$1,430,000
Gain.
8,700,000
9.000,003
1,08.1.
$119,000
300,000
Total gold and legal tenders
110.255,000
$10,438,000
Loss.
$181,000
Bank
Boldino:
the East and influential -in the West.
Ftb. 21, 18f9.
I'eb. 23,
TotaL
Bold.
«
1888.
SUver.
lotat.
£
21.845,821
,845,821
40,414.489 48,971,916
,388,351
30,616,100 16.273.000
,819,00(1
5.767.000 15.535.001
,292,001
5.084,000
7..S68.00(
,452,00(
1,352,000
8,309,001
12,501,001;
8,687.000
1,293.00(
,830,001
«,74I,000
l.b71,00<
4,112,000
FUND.
PROGRESS IN THE REFORM OF RAILROAD
MANAGEMENT.
The Illinois Central's action, in response to the invitation to Join the Inter-State Railroad Association, will certainly be widely regretted.
No one can be surprised at
Northern.
But conserva-
tive sentiment expected to find the Central
on the other
encouragement to any
effort for establishing and keeping traffic agreements.
The legal opinions which the directors endorsed must
have afforded a new revelation to the company, for durside of the question, giving
its full
long existence rates have been constantly
and changed without the Board's
least, to raise
authority.
also tlie
RAILROAD SECURITIES AND THE SINKING
,220,308i 1C8.8'3.888 85,952,122 194,825,350
&
no doubt
21,316,000
,676.176 109,376,202 S6,286.5a8 195,642,790
the course of the Burlington
of capital,
92,50S.956
42,768,000
I
.
and the preservation
22,376,834
England....
france
'Germany..
Aust.-Hung'y
Vetherlands..
Nat. Belgium.
Tot. this week 106.234,280 t8,440,916
Tot.proT.w k 1 05.794.379 88.425 9 -'9
tion
cohesive forces will be found vigorously operative.
~i
23.376.834
44,713,368 47,795 588
28,512,000 14,258,000
6.681,000 14,635,001
doubt friction
developed in the working of the agreement;
no doubt from time to time further changes will be
found desirable; no doubt rumors of rupture will be
will be
abundant. These are incidents inseparable from any
reform; but as the matter at stake is between the destruc-
of
Ooht.
No
.
Bullion holdings of European banks.
inopportune, at
have to give way.
within a few days, more than one transaction
We have,
Inter-State Association of the
Wuh mdino Fib. 81, 18t-9.
its
will
ting into operation this
!the result is as as follows.
ing
—
181,000
"With the Sub-Treasury operations and gold exports,
Bank*
timent has begun to rise, and obstructive managers with
the old methods will have to give way before it gracefully, if they accept the situation, but in any event they
"tration contract," and will henceforth operate their
lines together jointly, discountenancing rivalry and
W«t Int«rtoT
Movement.
JV.
lines of this agi-eement the tide of public sen-
which helps disclose how strongly the current has set in
the relations between all systems of
York roads coming gradually under its influence. The Northern and the Union Pacific have just perfected " an arbi-
tory condition of the coal trade.
The following statement gives the week's receipts
and shipments of currency and gold by the
Along the
made
It
was
that issue for the
first
Some months ago we published in these columns an
" Sinking Funds and Drawn Bonds," at
the close of which we expressed the intention of dealing
article entitled
on another occasion with the question of sinking funds
Though later than anticipated, we reopen,
in general.
the discvission to-day, confining our attention to sinking
funds in their relation to railroad finances, though
hoping at some time in the future to develop the subject also in its bearing upon cities.
Since writing the article referred to above several of
our most prominent companies, two of which at least
maintain extensive sinking funds, have reduced dividends and gone vigorously to work curtailing expenses.
In view of this fact the question of sinking funds
becomes a most pertinent one. Is their establishment
just to the stockholder ? Are they a material benefit'
and safeguard to the bondholder ? What are the points
concerning them which the investor ought always to
time now.
Our railroad traffic arrangements were nearer have in mind ? And, finally, what legitimate relief is
chaotic state and railroad property was in greater
peril there for companies whose sinking fund requirements
during 1888 than ever before, and out of that situation
are heavy beyond all reason ? These are some of tha
this effort of the Presidents, in the lack
of anything better points on which we will touch in the course of these
proposed, took its inception.
Honest and earnest men articles. But it is necessary to have at the outset a
always find a way to join, and to help guide,
a reform
understanding of the principal forms of sinking
a
movement
clear
under such conditions; or if they can- funds and the objects for which they exist.
not find a way, they make one. As much
was expected
In the first place it is to be noted that in conneotloa
otf the Illinois Central in
this instance.
True, it says it with certain is^ue^ q£ bouds the sinking f uud, is iadia
started
—
February
THE CHRONICLE.
28, 1869.J
236
pensable, wliilo us applied to other issues, equally arranged either that a certain sum for each ton of coal
important aud far more numerous, it is neither neces- or ore miued on the premises shall bo set aside as a
sary nor are the advantages accruing from it obvious. sinking fund, or that a given amount yearly shall for
The principle involved is this. If the property mort- this purpose be paid from the company's earnings.
gaged bo 80 far as one can see of permanent value, so
that at maturity the debt entire will be secure, there is
no necessity of a sinking fund to provide means for its
absolute discharge. But if, on the contrary, the property
be of a nature to diminish in value, it is clear that
the principal of the debt which is secured xxiwn it
can be rendered safe only by a sinking fund. The
majority in fact of our railroad bonds are a mortgage
only on the line itself, or the line and its equipment
property which under honest management, with proper
renewals and repairs, ought to have (presupposing now
Thus
it is
Coal
Company
receiving*
that the bonds of the Lehigh
ten
issued
last
cents per
&
Wilkesbarre
year have a sinking fund
ton of coal from mines
first lien, and that the Columbus &
Hocking Coal & Iron bonds have in a similar fashion a
sinking fund of two cents per ton. For the same reason
included in their
also the Tennessee
Coal
&
Iron bonds have sinking
funds, though of the other style named, that for the
Birmingham Division bonds requiring an annual outlay
of one per cent and that for the Tennessee Division
bonds of one and a half per cent of all the bonds
secured,
against
the
evils
of
these sums accumulating for the redemption
scheme
no disastrous paxalleling
the
bonds
attempt
to
make
provision)
of
at maturity.
The reasonableness of such
is
hopeless
to
which it
property which ought to have, we say, under normal measures is obvious.
So far
A third class of bonds to which a sinking fund ig
conditions an enhanced value the older it is.
then as the ordinary railroad bond, or the holder of it, ordinarily attached, and with especial reason, are those
secured by mortgages on railroad bridges.
The necesig concerned, a sinking fund provision for its ultimate
redemption is superfluous. When the principal falls sity of giving them this character depends on whether
due the debt may be either extended, perhaps at a lower or not we consider the bridges temporary structures,
rate of interest, or paid .off with the proceeds of new destined to deteriorate perceptibly during the life of the
bonds sold to replace it. But if the bonds ai-e Issued bonds, and sooner or later requiring to be entirely
beyond the railroad's value and are therefore from the replaced. If one takes this view of them, the additional
a prop security which a sinking fund affords becomes a necesstart poorly secured, the use of a sinking fund
sity, and it is significant as indicating the common
it
better
standing
support
the
issue
and
give
were
to
a
as it
appears to us at least of doubt- opinion on this point that so few of these issues are
in the eyes of investors
Quite a number of them have long been
Public opinion with respect to this without one.
ful expediency.
device is undergoing a change, and we would gladly quoted on the New York Exchange, among which are
hasten it on.
AVe will, however, withhold our ideas the Mississippi River bridge 6s of 1913, assumed by
upon it until after an examination of those cases in Chicago & Alton eleven being drawn last year at 100,
which the call for a sinking fund in accordance with the and six more, whose numbers appeared in these columns
three weeks ago, will cease bearing interest on April
principle laid down above is plain and undoubted.
In tliis country the most prominent instance of this first. Also, the Henderson bridge 6s of 1931 drawn at
is found in connection with land grant bonds.
Our 105 for a sinking fundf that will be §31,000 yearly till
companies still possess vast tracts of land which very 1895, and 18,400 thereafter, the Booneville bridge 6s
generally, either alone or together with sections of rail- (guaranteed by Missouri Kansas & Texas), drawn at
road, are pledged to secure issues of bonds.
Of course par, the Fort Smith & Van Buren bridge 6s (St. Louis
the land thus mortgaged cannot be closed to settlers, & San Francisco), to be drawn at 105, 5 jier cent yearly,
nor would it do to allow the bonds' lien to become im- commencing in 1890, etc.
paired, as it would were the companies to sell the land
Still a fourth class of bonds remains for which the
at pleasure and appropriate the proceeds.
On this necessity of a sinking fund may be allowed. We refer
account we have the stipulation that as the land is dis- to those issues for equipment where all the bonds have
posed of the income from it shall be held in trust for a common date of maturity.
The St. Louis & San
the bonds, sometimes with the further provision that it Francisco 7s, due June, 1895, are an instance.
Having,
may be devoted, if earnings fall short, to payment of for security only cars, locomotives, etc., it is apparent
interest upon them.
Hence it follows that all laud- that without a sinking fund they would at maturity be
grant bonds, whether or not so styled, are in reality and unprovided for, and to a large extent deprived of
of necessity tp this ex;tent sinking fu,nd bonds.
Not security, the rolling stock being sure by tliat tijoae to
infrequently indeed there is also granted to them a be considerably depreciated, if not worn out.
The
jinking fund irrespective of land sales, a charge on net sinking fund, however, retires $80,000 of bonds yearly
earnings, but that is not essential, and is open to criti- at 105, so that their position is unassailable.
There is
cism, as we shall show on anoUier occasion.
Few of nothing strange or odd about this. Many other com ^
the old land grant bonds, pure and simple, are still panies have tried the same method, but along with tie,
—
—
—
extant,
laad
of
but
those
now
grant and railroad,
outstanding,
amount
to
covering
many
both
millions
Jcar trust system
Union
We
Pacific
it
is
now
decreasing in favor.
and Pennsylvania
railroads
The
have both
have at our disposal facts of such substituted a far preferable plan. They issue against
and of such i>rac- their new equipment series of bonds, l-lO of each series
tical value as well, that we purpose devoting the second falling due yearly, and so avoid the troubles of a sinking
article of this series solely to their exposition.
fund.
Other companies will doubtless follow their lead
Next in importance to land grant bonds as requiring
* It also gets the iiroceeds ot land galea.
sinking funds and of interest in connection with railThese amoiuiU may be itrst applied to extraordinary repairs or to
road issues, if not strictly one of them, are those on coal rebuilding tbe bridge.
Under the car trust plan, the rolling etock Is owned by a distinct
aud other mining properties. Unlike, however, the
organization, which leases It to the company, and in return receives each
case just described, these bonds manifestly cannot have
year a fixed amount, sulliolent to pay Interest on Its ccrlitlcates of own_
for their sinking funds the whole amount realized from crship and to redeem a given number of them. When these have al^
been redeemed, the equipment becomes the property of tbe rallrobd
sales of the property mortgaged.
It is therefore usually
ompany.
dollars.
interest as illustrating this subject,
t
:
THE CHRONICLR
236
ceases to be familiar ; but in the
example of a class of
interesting
offers an
until the old
meantime
it
method
that
[Vol.
XLVm.
we now have the only other item necessary
to
show
the outcome for the entire system, namely the results for
the lines jointly owned with other companies, of which
The
the Atlantic & Pacific is the principal one.
proportion
what
In conclusion
company
estimates its proportion of the loss on these
from
such
are
country
the
of
issues
fund
sinking
of the
roads jointly owned at $575,383 for the eleven months,
choice and what from obligation— that is to say, what
of which amount the roads repaid out of their own
the
portion would fall within and what portion outside
On the 3,506 miles of auxiliary
resources
$550,283.
our
For
them.
classes we have enumerated as requiring
months reaches $3,969,448,
eleven
for
the
roads
the
loss
special
made
long
Investoks' Supplement we have
was
met by the roads themof
which
also
$1,365,333
and
points,
these
on
information
efforts to obtain
securities
needing sinking funds.
it is
instructive to note
though we do not claim that all the loans having sinking selves, leaving the net loss for the year to the parent
funds are so indicated in that publication (the com- company $1,604,225. The Atchison proper shows a surpanies oftentimes not caring to make known this plus above charges for the eleven months of $1,066,000.
feature and our collection of mortgages, though very On the system as a whole the result would be about as
we are confident that follows.
INCOMK STATEMENT FOR 11 MONTHS (WITHOUT DITIDEND).
the most of those that have them faithfully carried out Atcbison proper (3,025 miles)— Surplus above charges
$1,066,000
Auxiliary
roads (3,506 uiiles)- Deliiienoy
2,069,448
and
miscelTaking, then, the railroad
are designated.
large, not being entirely complete)
Roads owned Jointly (1,181 miles)— DeflcleEcy
to Atchison.
575,232
laneous bonds in our Supplement as a basis, we find
$2,478,730
ResiUt, whole system (7,712 miles)—Deflolency
$1,365,223
that there are some 278 issues which we believe to have Advances roiiaid—Au,xiliary roads
Roads o-ivned Jointly
550,282- 1,915,505
sinking fund provisions, and that of these there are
about 74 which would from their nature be more or
required to have them.
$563,225
less
This does not include the $2,625,000 paid out for
dividends during the year, for the point of course
POSITION OF THE ATCHISON.
to see
how near
the company came to earning
its
is
charges.
In looking over the pamphlet report of the Atchison It appears that on the whole 7,713 miles in the system
issued this week, what (counting every piece of road in which the Atchison ia
impresses one quite as much as anything is the compre- in any way interested), there was a deficit of $3,478,730,
When the but that $1,915,505 of this was made good by the
hensive character of the exhibit furnished.
preliminary abstract was published some weeks since roads on which the deficit occurred, leaving the actual
and received such harsh criticism, we gave it as our net loss to the Atchison as only $563,335. With referopinion that an honest effort had been made to tell the ence to the character of the resources out of which the
Topeka & Santa Fe Company,
truth about the property.
We
are quite confirmed
in
auxiliary roads
met
so large a proportion of their losses,
one can the report says that the amount [represents " excess of
study its elaborate statements and carefully prepared funds received on account of construction," which is
compilations without becoming convinced that the the same as the statement made by Mr. Magoun, in the
officials of the road have sought to afford the owners of interview so widely quoted, that the branch roads had
the property full knowledge and a clear idea of its fallen below the estimates of their cost, and having
this belief
by the report now submitted.
No
and standing. Be the facts favorable or been built without the intervention of construcotherwise '(and some of them we need hardly say are tion companies, the excess of funds went into their own
unpalatable), they are stated* without any attempt at treasuries rather than into the pockets of outsiders.
concealment. This is no surprise, however, for the
Such has been the outcome in the most unfavorable
candor and honesty of the management have never year that the roads in that section of the country
condition
been called in question. Floating debt, fixed charges,
income accounts, balance sheet, securities held, &c., are
set out at great length and with much detail, so that
one possesses all the essentials for an intelligent judgment of the value of the property and its securities. If
doubtless
have
ever experienced.
No
record of the
would be complete that did not
results for that year
furnish a comparison of at least net earnings with those
of the year
when the conditions were so
The Atchison managers evidently
preceding,
much more favorable.
estimates as to the future differ,
it is not because the recognize that fact, for they give the net earnings in the
data furnished are insufficient, but because in the nature two years both on the system proper and on the
of things there must be more or less uncertainty about "investment properties," meaning the auxiliary lines
the prospects of a great corporation situated and placed and the roads owned jointly with other companies.
as the Atchison is.
The managers wisely refrain from The comparison is as follows. These figures cover not
indulging in predictions and prognostications.
the eleven months, but the full year, December being
Many of the more important tabulations contained in partly estimated in 1888.
the report we reprint in another part of our paper,
EXHIBIT OP COMPARATIVE NET EARNINGS (FUIX TEAK).
under the head of Reports and Documents, and
Average MUtage.
Utt earnings.
an
index to the same, by letters, is given in an
1888.
1887.
1888.
1887.
item
with
regard to the Atchison statement in
mtrf.
MiUt.
our
$
$
3,020
2,622
5.143,693 8,604,075
regular department of railroad intelligence.
With
Auxiliary roads
1,245,491
2.14.=.,ao2
3.402
2,144
*591
*578
*204,71u
•def. 64,347
such an extended and complex system of
roads,
7,<I13
5.343
system
however, involving a knowledge and study
Whole
6,324,837 10,054,587
of the
* These figures represent In each case simply the Atchison proportion
accounts and operations of many different
companies, —that is, half the total.
we think the best service we can render our
readers is
Thus while the net earnings of the system in 1888
to present a brief summary or
recapitulation of the
principal results bearing upon the
present and future
affairs of the company.
We may begin by referring to
the income accounts as stated for
the eleven months
esdmg November
30.
These
differ
in
no particular
were only $6,324,837, in 1887 on nearly 1,700 miles less
In any
road they had been as much as $10,954,587.
estimate of the earning capacity of this great property,
that
is
a fact which can not be ignored.
Coming now
to
from those given hi the preliminary
statement, except favorable condition
the floating debt, we find a very
of things.
This was evident in the
.
Febkuahy
83,
THE CHRONICLE.
1889J
preliminary statement, but now we have the exhibit
with greater detail ami covering all the outside properThe gross total of the floating debt on
ties as well.
237
gaide to the probable results in 1889. Conditions hare
in a number of respects: (1) the
situation as to rates is decidedly better, (2) the volume
materially changed
the parent system (counting interest accrued, some of of agricultural tonnage on account of the large yield of
which will not mature for months), November 30 com should be much heavier, and (3) the new mileage
amounted to 18,643,304, and the available cash offsets will be operated under much more advantageous circum-
were 13,457,412, leaving the net debt $5,185,892. But
against this, 16,300,000 on the $7,000,000 guarantee
With this
notes subscribed for remained uncalled.
$6,300,000 paid
above current
in,
the
company would show
liabilities of
the leased and controlled
liabilities
at
a surplus
On
over a million dollars.
roads the exdess of current
over the immediately available cash assets was
$2,584,590, while the Atchison's
the same date
proportion (one-half) of the excess on the roads owned
jointly is stated at $441,329; on the properties other
than railroads the assets exceed the liabilities in amount
Altogether the net floating debt of every
of $74,473.
description November 30 was only $1,837,338, as will
appear from the folloving recapitulation.
MET FLOATING DEBT NOV. 30, 1888, (ABOVE JLVAILABLE CASH A88ET8.)
$5,185,892
AtcbUon proper-Excess of liabilities
Guarantee fund
6,300,000
Surplus
Auxiliary roivds— Excess of liabilities
Roails owned jointly— Excess of liabilities (one balf )
Otbcr proxKTtics— Surplus of casb assets
$1,114,108
2,584,590
441,329
74,473
Not debt, entire system
fl,837,338
allowint; for materials and supplies on hand or unpledged
tocks and Irauds in the treasuries of the different companies.
— witliout
The above allows
bonds and
stocks
in~^
the
in addition the $.3,128,227 of supplies
and materials
held by the parent and auxiliary systems were counted,
the surplus would
a very important matter, for a
is
construction during 1888, and therefore not in position
to demonstrate
capacity for business and earnings.
its
new road in complete running
and working order, and after that much more time
must elapse before it can get its full share of business.
There is the Chicago line, for example, which was open
only the last half of the year, and doubtless had to contend with all these drawbacks the 1888 results on it can
give no clue to the possible or probable outcome in 1889.
It should also be remembered that the earnings for the
system as given above cover only the income from operation of road, and not the income from other sources,
which on the Atchison proper for the eleven months
ending November 30 reached $446,660. Should the
takes time to put a
It
;
system, however,
fail to earn the full charges, the
statement with reference to the floating debt shows
that the company is in condition to meet the deficiency.
recuperative power of a system of 7,000
Finally, the
miles of road
does not allow for
it
company's
treasury, available as collateral, and which stand on the
books at a cost of $3,960,608, nor does it allow for
$7,574,775 of securities owned by the auxiliary companies and which have cost $5,886,199.
With these
taken in, at their cost value, the assets would exceed
the liabilities in the sum of over 8 million dollars, and
if
last
large portion of the company's road was in process of
is
not to be lightly regarded.
for the $6,300,000 uncalled remain-
der of the guarantee fund, but
$6,395,556 of
Thi»
stances.
amount
to over 11 million dollars.
A few words now as to the
total of current
and future
That covers the point of greatest importance
and with regard to which there has been the most
uncertainty.
The company meets every inquiry by furnishing the fullest kind of a statement giving tlie
principal and yearly interest on each issue of bonds,
direct and indirect, for which it ia in any way responsible, and also the charges for sinking funds, rentals and
taxes.
We print this statement complete on another
page, Exhibit " R," and have room here for only the
charges.
—
We
subjoined recapitulation of the same.
should say
covers every obligation except the $161,805 interest
on the land grant bonds, which is provided for out
it
LAST YEAR'S NET EARNINGS.
We
able to pfesent to-day a statement of net
are
earnings
for
1888,
covering
very
a
returns for the full calendar year on
propor-
large
We
have
U,9 roads, whose
tion of the railroad business of the country.
earnings reach 724 million dollars gross and 227f million dollars net.
Besides these, 8 roads have reported
for eleven
grand
months
of the year
;
adding them, we get a
751f million dollars gross and 235 million
In his last volume Mr. Poor stated the
total of
dollars net.
earnings of
roads in the country at 931 millions, so
all
that our total represents considerably over three quarters
of the whole amount, though
The
side of the country.
we include three roads outsummary will show
following
how the
aggregates for 1888 compare with those for 1887,
on the roads embraced in our exhibit.
Jan.
Month
to Bic. 31.
1
.(•127 rood*.)
1887.
1888.
Orouearn's
Oper. ezp.
.
of Dtcembtr,
|
(75 roadt.'i
1887.
1888.
Inc. or Det.
IncMr'btc
t
t
t
751,e97.952 737.734,366 i-13,ee3.586
816,552,286 478,781,740 +37,790,616
$
3«.9t0.5»4
%
40,S9O.M0
27,517.023
27,056.708
-23.8i».960
12,393,561
18.534,141 -I.140.6fO
Net earn '8 239.14S.66e
2!18.1172.626
t
-880,285
+460.316
This Includes 8 roads which have reported Xor only eleven montli
of the year.
•
<
and excepting ofcourse also interest on
This reveals at a glance what has been one of the
income bonds dependent upon earnings, such as the chief characteristics of the year, namely the increase in
Chicago Kansas & Western issue.
expenses.
Gross earnings are 14 millions larger than for
of land receipts,
EXHIBIT OF CHAKGES FOB 1889.
AtohlsOD proper— Bond Interest
$4,536,985
Biukiiig lunds
333,886
Rentals
Credit
3t),000
Taxes
,
.
„.
AoxlUarr
roads— Bond interest
Sinking funds
I'Hxes
Interest
466,734
Rentals
309.000— 4,378,354
weather, snows, floods, &c.
Rentals (one-half)
635,760
228,633
troubles
Taxis (oi.e-half)
on equipment lease warrants
Grand
total of oharges,
Hence we have a
As
less.
is
known, the roads suffered from quite a combination of
670,000—6,504.871 adverse circumstances, embracing at different times
3,577,620
25,000
during the year strikes and other labor troubles, bad
„
Roads
owned Jointly— Bond Interest (one-haU).
^
1887, but net earnings are nearly 24 millions
whole system
84,200—
—
all
and the competition
of
in addition to the rate
new
roads.
It
is
this
94«,.593
86,740 combination of unfavorable conditions that accounts for
$10,918,558 the uniformly poor exhibits all through the year, our
annual charges, monthly statements having shown lower net (as comamount of the 1887 net earnings pared with the corresponding periods in 1887) in every
($10,954,587), when the company operated 1,700 miles month with one single exception; that exception was
less road.
If we take the 6J million net earnings for February, when the weather conditions in the previous
1888 as a basis, there will of course be a heavy deficit. year had been quite bad, while in that month of 1888
total of $10,918,558
or just about the
But
for
obvious reasons that offers a very imperfect
thef w«re very
much
better.
To
afford an idea of the
.
—
.
1
1
THE CHRONICLE.
238
annex the following
course of gross and net results, we
Bummary of the monthly aggregates.
GHOSS AND NET EARNINGS.
GroM
1888.
1887.
$
t
40,177,
,r79,908
June (81
roads). 39.020,
i,52o,639
Jnly (80 roads)
Aug.
,502,35S
14.611,
(83 roads). 44,084,
,B70,93J
10,4; 5.
1,607.838
8€pt.(78 roads)
Oct. (80 roads)
4-,C2-,,390 45,,314,028
Mot. ("6 roads)
10.8S3.,008|41 ,384,420
Dec. (75!road?)
.^9,910.,o84 40,.590.849
We here get
6.067,842; 7,628,153 -1,500,311
+ 704,397
+288,985
8.587,878
+ 2,611.798
-2.063,961 10,303,802; 13,095,137 -3,391,335
+ 1,630,258 ll,480,o38j 11,802,974 -322,436
+2,397,946 12,104,018 13,211,130 -1,107,112
+ 2,494.813 13, in, 425 12,748,220 —633,795
+ 2,109,028 13,930,084 15,442,100 -1,503,016
+ 2,363,95» 15,4.34,231 16,155,10' -<S0,87e
+S47,241j 14,321,693' 15,422,917 -1,101,224
+ 1,718,3'12[ 17.717,aS5 18,32ti.27S -608,393
-497.512 14,203,011 15,618,109 -1,413,063
680,2051 12,31)3,561 1,3„534,141 -1,140,580
8,876,661
—
a clear idea of the tendency during the
The results, however, are not
year.
as
bad
as
XLVin,
twelve months the same roads, excepting Ches. 4 Ohio, together with Charleston 4 Savannah, M 'bile & Ohio, Natchez J. 4 0. and Savannah Fla. 4 Western.
Coal Companifji-Centrai of New Jersey, Phila. 4 Kc-adlng. P. 4 tt. Coal &
Iron Co Pittsburg 4 Western, Summit Branch, Lykens Valley, Western N.
Y. 4 Penn. and West Vir. Cent. 4 Pittn.: and fortho yejr the same roads toeetherwith Del. 4 Hudson Canal with Alb.&Susq., N.V. & Canada and Kcnsfelaer 4 Saratoga, Del. Lack. & West., with N. Y. j.ack. & West, and Syr. Bing.
hamton 4 N. Y., Butr. Roch. 4 Pitts., Huntingdon & Broad Top., N. Y. Sus.
,
.
West.. Pittsburg & Lake Erie and Pittsburg McK. & Yougli.
.
^
„
Eastern Companies- Allegfteny Valley, Baltimore 4 Potomac. Camden 4
Atlantic N. Y. Ontario 4 Western. Northern Central, Rome Wat. & Ocd.,
together
Staten Island and West Jersey; and for the year the same roads
with Bennington & Rutland, Brooklyn Elevated, Cumberland Valley, Hartford
V. 4
4 Conn. Western, Long Island, Manhattan blevated. Miirylanl Central, .V.i-ake
New England, N. Y. N. H. 4 Hart., N. Y. Phi:. & Norfolk, Ogdeasburg 4
Cbampliiin, and Sou' hero lj.-ntrai.
Mexican Jtoad-The Mexican Central.
&
Inc.or Dec.
t
t
35,630,,800 24,,926,403
l^eb. (74 road!).. 30,809,;,364 88,,197,571
Moh. (09 roads). 14,590, 318j3l),,654,:i79
Apr. (82 roads). ;i7,824,:575! 36,,194,317
1887.
1888.
Inc. or Dec.
Jan. (61 roads.)
IIa7 (82 roads).
Net Eamin(».
Eiiminitt.
[Vol.
might at first
Take the loss of 24 million dollars in
sight appear.
that loss based on
net, as given in the first table above
—
Examining the above, one notes some other important
features besides those already mentioned. Thus we find
that the Xorthwestern and Southwestern roads have lost
not only in net but in gross, as might be expected from the
intensity of competition and the low rates prevailing in
On the Northwestern lines the decrease in
about 9 million dollars, and on the Southwestern
lines 2i million dollars, making 11^ million dollars together.
On the other hand, the Pacific systems which
that section.
gross
is
have benefitted so largely by the development of the
Pacific Coast section, have increased their gross earnings
Indeed,
16 million dollars, or just about 16 per cent.
much
that
so
strange
seem
group,
may
this
latter
it
gain
on
indeed,
heavy
ate decline,
except for the very
suflfering and depression in the railroad world should there would be no increase at all in the aggregate gross
Still, it is a feature
have been occasioned. But the bulk of the loss is con- eai-nings for the whole country.
tributed by special roads and districts, and on these the worthy of remark, as indicative of the progress and expanIn the North- sion of business, that outside of the two groups of
proportionate reduction is very heavy.
the 259 millions net earnings of 1887 gives a falling off
of only about 9 per cent. With such a slight proportion-
west, twelve roads have lost 13^ millions net, being nearly
one-third of their entire net earnings in the previous year.
roads mentioned, there
distributed over the whole body of roads, it would have
been easier to bear. In the following we have arranged
the roads by groups and geographical divisions in our
usual form, the figures in parenthesis indicating the
number of roads in each group. Only in this way can
the results be intelligently studied and comprehended.
Haven
is only one other which sliows
diminished gross, namely the trunk lines, and there
In the same way seven Southwestern roads have lost the loss is comparatively trifiing— less than one per
4i million dollars, being also nearly one-third their net cent. On the eastern and middle roads the gain of .3J
It is this fact that has made the year millions is to some extent misleading ; about half the
earnings of 1887.
such an unfavorable one. If the loss had been evenly amount of the increase is contributed by the New
1887.
t
Trunk
lines
(12)
1838.
»
204,078,566 205,484.606
Middle Western.. (141 18,380,502 17,871,871
Northwestern
(12) 105,838,442 114,782,004
34,038,754 36,605,291
Southwestern
(7)
Paclflc systems ....(13> 118,030,797 102,497,815
Southern roads. ...(20) 56,880,191 51,555,815
»
64,083,477
6,893.364
30.912,616
1887.
$
69,882,338
6,733,375
Inc. or Dec.
%
-5,798,861
+159,969
44,459,021 -13,r47,305
10,653,325
15,157,989
41,533,354
40,610,177
19,130,834
19,309,431
Coal companies... (20) 131,200,973 126,248,498 35.028,4(9 35,798.137
Baatern & Middle. (20) 40,436,037 46,175,141 17,264,839 16,205,253
Mexican road
6,514,503
4,883,580
2,216,366
(1)
2,169,127
-4,504,664
+017,177
-178,650
-771,643
+969,581
+47,239
Tota), 119 roads... 724,021,665 709,087,631 237,719,884 250,426,800 -22,707,142
27,873.287 28,646,745
.
7,423,002
8,540,830 -1,110,818
11 mouths, 8 roods.
Gr.
tot., 127
roads. 751,697,652 737,734,366 235.145,680 258,972.620 -23,826,9C0
December.
Trunk
lines
(7)
10,289,701
10,433,078
2,791,808
2,992,093
(9)
747,278
261,151
(8)
6,435,512
710,522
6,843,733
i5)
2,281,419
2,455,764
814,06a
Pacific sjstems....(12)
9,S5-.9H
0,129,888
8,073,004
231,033
2,158,419
981,315
3,180,016
Southern roads
(17)
Coal companies
(8)
Eastern &.Middle.. (8)
liexloan road
(1)
6,161,7:9
5,139,694
2,012,081
l,t8-l,655
-200,585
+30,118
-356,551
-167,253
-103,912
+24,826
4,803,5S6
4,950,858
1,300,957
-388,9ij6
1,.373,510
1,357,251
912,051
610,860
416,381
+94,479
438,887
510,058
217,176
286,772
—69,6J6
89.910,584' 40.590.849
12.39S.561
13,531,141
- 1.140.530
Middle Western..
Northwestern
Sou^hwetern
—
Total, 75 roads....
KOT».— Included under the head
1,799,368
of
Tnut* tinM-Baltlraore & Ohio, Clev.
i
Ind., N. T. T.ake Erie 4
& Miss.. Pennsylvania (east of Pittsburg & Erie) and Wabash Uailfor the twelve months the same roads u»(zether with Boston &
West., Ohio
Col. CIn.
tions of
its
opera-
leased roads.
lines on the other hand have all lost in
with the exception of the Nickel Plate, the Pennsylvania and the Erie, and all in net with the exception
As already stated, however, the aggreof the last two.
gate loss in the gross is not very heavy less than 1 per
The trunk
gross,
—
Ket Earnings.
Gross Earnings.
Tear.
1888.
road, whose figures for 1888 include the
way; and
Albany. I.alce fhore * Mich. So., MIch, Cent. & Can. So., N. Y. Central * Uiui«on, and N. Y. Chic, tt St. Louis.
MiitMe W-e^tem— Cairo Vin. & Chic, Cln, Ind. St. I,. & C, Lake Kric k Western. Uevelatid ft Canton, net. Bay City A Alpena, Ohio Kiver. Scioto Valley,
loledo * Ohio Central, Marintta^Col. & Nortlii and for the twelve months the
Mme roads toijether with Chic, k West. Mich., Louis. .N. Alb. & c, Det. Lans
* No., Col. U. V. 4 T., &nJ SI. Lou s Bridge 4 tunnel BB.
§NorthKestern-^m\. Cedar Baplds 4 Northern, Central Iowa, Oh.oago Burl. A
iHncT.Chle. Burl. 4 North., Minn. 4 St. Louis. ')hic. 4 Northwestern, Chi"
"• *ni ,M'.'- ^- *• * West
and for the twelve moiuhs the same
JL^J*.",' ".f
<^""«*° ^"- * ^'- «•«"' «"'""'kee &
cent; but in the net the falling off reaches 5f million
dollars, though as the totals of these roads are very
heavy,
cent.
the ratio of decline is only a little over 8 per
The Vanderbilt roads have been the principal
but the Wabash Railway (east of Mississippi)
more than any other, and the
proportionately
has lost
also
has a heavy percentage of
Mississippi
&
Ohio
sufferers,
decrease in net.
The Middle
AVestern
prising chiefly minor companies)
make
roads
(com-
rather irregular
The Louisville New Albany & Chicago and
Columbus Hocking Valley & Toledo are distinguished
for very good returns; the Detroit Lansing & Northera,
Scioto Valley and Detroit Bay City &, Alpena have
done rather poorly, though at least the two latter began
to record improvement before the close of the year.
The loss in net on the coal roads, though small, may
exhibits.
occasion surprise, since it is
good year in the coal trade.
known
that 1888 was a very
In reality, the roads have
done remarkably well, and the falling off follows from the decrease of over three millions on the
Reading because of the strike early in the year. Besides
nearly
all
the Reaxliiig, only the Buffalo Rochester
(&
Pittsburg,
New "!>'oik Susquehanna & Western, and Pittsburg
McKeesport & Youghiogheny have suft'ered a reduction
On the
of their net, the loss being in no case heavy.
SSrthl'S,''il;5',yrb'„shw'*e'',tetn^''"°'
Top. 4 S. F.. Denver 4 Rio Orande We.teni,Den- Central of New Jersey the gain is strikingly large,
..5?!!'f.'.'"'/,'"''::*'.';'>''".°
1^5? t. 2 "'''"''?l*'"" *"''"''<' * Aran, Pass and Kort Wuith 4 Deav. (.itv:
the
iSfeSUll^'nirSGrtaTNSrXel-n.'"*'"'" "'" """*' *^''^ ^'~ «• * ^''^^ reaching almost a million dollars, but on some of
;
PaclOc, Northern Pacldc, the six Southern Paciflc
°">1»^ Ky.4Nav.Co.. Union Pacitlc and Prescott 4
the same roads toRether with Nevada Central
* y»5l"n yall,3y. Central of Heorgta, Ches.
nySk"l"'^ .IHf^'^^'^^^^.^^V
* Texas PaclBo (four roads). Bast 'I'enn. Va
<^!"-. "^^
* <K *„^"V'^''r''»J.'"'".'
*«!.
*„ N^^hvllle. Louisville New OrleSns 4
M^oI.'nM'' 4
i^?-i"'\
';"""i"'?
?xas, Memphis
Charleston, Nashville ChaUanooga 4 St. Louis Norfolk *
Wtem, Chesapeake 4 Ohio. Petersburg and Klchmond A PetCTsbilrg; "ad f(5
rrSK*-n,?°"'*^"*^°l!?"*9.
Ar^
Aru.
minor roads the augmentation
is
proportionately
still
rSn?*'°"„Ii°J''uoat-i and for .S?the year
"
greater.
We have
referred above to the extraordinary gain of
sixteen million dollars on the Pacific roads.
As
will
be
?
i
,
'
Fkbroaht
THE CHRONICLE.
33, 18f9.J
dccn, however, the increaae in the net
is
comparatively
lia.
On Thursday,
239
for example, £850,000
were taken out for
Union Pacific, Oregon Navi- South Africa and Lisbon. The export to Lisbon is believed to
rejiort losses.
These be really intended for South America. The premium on gold
Improvement
gation and Oregon
at Buenos Ay res is over 56 per cent, and tht re is a strong
smull (*!)17.177),whilc the
pursued a very liberal
inducement, therefore, for sending the metal. Besides, it is
and renewals, taking well known that much gold was to have been taken some
advantage for that purpose of the prosperous state of months ago, and was left here only because of the disturbA striking illustration is furnished by ance of the money market caused by the shipments. The
their business.
the Southern Pacific Company, which on gross earnings reserve of the Bank of England is very large, being 47)^ per
cent of its liabilities. But this is due mainly to the return of
enlarged nearly eight million dollars, has added only
coin and notes from internal circulation. In April they will
about half a million to its net. The Northern Pacific
flow out again. Indeed it is expectf d that the outflow will
has an increase of about a million in net, but the aug- be unusually large this spring, and thus the reserve will fall
roads have nearly
Paciflc
making
[wlicy in the
all
of repairs
mentation in gross is nearly four and a quarter millions.
In the Northwestern group every road shows diminished net, barring only the Milwaukee & Northern,
which has a small gain. In the Southwestern group
(which includes Colorado and Texas roads) there are
three exceptions, namely the Eio Grande Western, the
Fort Worth & Denver and the San Antonio & AransasvSouthern roads, as a whole, have not done parPass.
ticularly well in net, and yet but for the loss of one-half
a million on the Louisville
&
Nashville that section
would show a gain.
One
the striking
of
been
has
the
and
panics,
it
characteristics
very
heavy
may
be well,
record here of those of largest
& Quincy
lington
by
of course heads the
diminished 16,378,148.
the
of
year
com
therefore, to make a
magnitude. The Bur-
losses
special
list,
with net
The Atchison comes
next, with
on the system proper. The
third, with a loss of
loss is 13,549,053; on
*3,187,857.
the Northwestern $2,450,005, and on New York Cen-
a
loss of
$3,460,380; this
tral
is
& Heading stands
On the St. Paul the
Philadelphia
The Wabash (both east and west of the
The Lake Shore has a decrease
11,739,525.
Miss.) lost $1,407,703.
of $886,516; the Chicago
& Rio Grande,
&
Alton, $8^7,802; the Denver
$704,370; the Union Pacific, $614,126; the
Michigan Central, $588,000; the CleveUnd Columbus
Cincinnati
&
Indianapolis, $540,000; the
&
070, and the Louisville
With
Omaha,
$548,-
Nashville $538,763.
December exhibit we need only
all the months preSlight gains in net are shown by three groups
reference to the
say that
it
ceding.
is
unfavorable, as in
of roads, namely, the Middle Western,
and the Eastern.
The
the Southern
others have losses, though in the
case of the coal roads there would be an increase except
for the
heavy decrease on the Reading and a small
decrease on Central of
New
Jersey.
[From OUT own oorrespondent.l
London, Saturday, February 9, 1889.
Bank of France on Thursday lowered
their rate of discount to 3 per cent.
The rates of the tliree
great European reserve banks are now, therefore, the same.
But in the open market rates are lower, both in Paris and
Berlin, than in London. Here the collection of the taxes is
going on with such speed that the supply of loanable capital
in the outside market is rapidly decreasing.
In the week
ended Wednesday night, for example, the Government
deposits at the Bank of England increased nearly 3 millions
sterling, and the week before they increased nearly 1}^ mil-
The
Directors of the
being a total increase of nearly 3}^ millions sterling in a fortnight. Consequently the rate of discount in
lions,
is now about 25^ per cent, and seems likely
per cent before very long. It is poesible, therefore, that gold may be attracted from the Continent, but as
the Bank of France and the Luperial Bank of Germany will
put every obstacle in the way of withdrawals of the metal,
it is net likely that very much will be obtained.
On the
other hand, the withdrawals of gold from the Bank of
the open market
to rise to
'i
England more than counterbalance the receipts from Austra-
rapidly.
The silver market remains inactive and without change.
The rate of discount of the Bank of Bombay is still 11 per
cent, and that of the Bank of Bengal was raised to the same
figure on Thursday. The pressure in the Indian money maris therefore rather increasing.
It is natural that it should
be so, as in the great wheat districts harvest time is close at
hand. But the export of silver to India is still small. All
the remittances recjuired are supplied by the India Council's
drawings, which have been exceedingly large this week.
From this it is apparent that the Indian Government's balances in the treasuries of the three presidencies are unusually
large, and that their magnitude is contributing to bring
about scarcity and dearness of money in Bombay and
Bengal.
On Thursday the Conservatives in the German Reichstag
introduced a motion to the effect that in the event of England
tat.ing the initiative to restore the silver standard, Germany
would express her readiness to take common action with
England. The motion was opposed by the Liberalists and by
the National Liberals, and was withdrawn without a division.
In the course of the discussion, however, the Secretary of
State for the Imperial Treasury stated that Germany had no
present reason to cliange her currency system, but he added
that without pledging the Government as to what it would
ultimately do, if England desired to have a discussion of the
question, Germany would not oppose her wish. The motion,
as, indeed, the mover admitted, was chiefly intended to influence public opinion in this country. It is hardly likely, however, that it will have much effect. The bimetalists are
active, but they are a small minority, and though it is believed
that several members of the present Government are inclined
towards bimetalism, it is not liKely that the Chancellor of the
Exchequer will propose any currency change.
Since the beginning of the year the trade improvement
has been more rapid than before. The Board of Trade
returns for January show an increase in the value of the
exports of British and Irish produce and manufactures of
10'2 per cent over an increase in January of last year of 4'34
per cent; and they show an increase in the value of the
exports of foreign and colonial produce of 41 '65 per cent.
The increase in the imports is 9'36 per cent over an increase
in the corresponding month of last year of 13'09 per cent.
The increase is general in the exports, and it is noteworthy
that there is a very considerable increase in the imports of
the raw materials of manufactures. It is true that there
were only four Sundays last month, while there were five in
January of last year. But still the improvement is very
marked, and there is a great increase, too, in the clearings of
the London and Manchester clearing bouses. In the week
ended Wednesday night, for example, the increase in London
clearings was over 43'4 millions sterling, or about 36 per
cent. And for the first five weeks of the year the traffics of
seventeen British and Irish railways show an increase of
nearly a quarter of a million sterling, or about 4 per cent.
Market reports and trade circulars confirm the testimony of
statistics.
At the same time there is a notable absence of
speculation, so that trade was never in a sounder condition.
There are symptoms now that we are near a considerable
rise both in prices and wages, and if this takes place the usual
spring outflow of coin and notes from London will be on
a greatly increased scale, and consequently will tend to make
money scarce in this market.
The earlier railway dividends were disappointing, but the
later have given great satisfaction to the market, particularly
those of lines whose earnings are chiefly derived from the
carriage of goods. Our four greatest lines, the London &
Northwestern, the Great Western, the Midland and the
ket
—
:
THE CHRONIGLR
240
Northeastern, especially, have improved their position. The
of
first pay J^ per cent more than for the second half
improveThe
more.
cent
per
pay
two
last
the
1887, and
ment in the Northeastern is the most significant. This com-pany serves the great iron district of the north of England,
and its prosperity, therefore, is mainly dependent upon the
two
%
[Vol.
XLVin.
and the
rise will quickly begin again.
Egyp-ian unifiel four
per cent bonds are at 86. It seems certain, therefore, that
the conversion of the five per cent preference debt, which
was postponed last j ear, will soon be
undertaken.
The Spanish Government is negotiating for a loan at 4 per
cent, and in preparation for the transaction the existing 48
have been carried up to 75. As there is a very large deficit
every year, and consequently an unwieldy floating debt, the
price is obviously too high.
But the great houses interested
are powerful enough to maintain it for all that. Most other
international securities are equally inflated, and will continue
for political reasons
iron trade. For very many years its dividend never fell
below 8 per cent for the year, and very often it exceeded that
But since 1883 it has gone through bad times. Now it
rate.
For the second half of last year it pays a
is recovering.
dividend of 35^ per cent and for the whole year it pays 6}^
per cent, wi ich is about 1 per cent higher than in 1885 and
1886. And its prospects for the current year are much so until political anxieties revive or money becomes scarce
brighter. These dividends have caused a marked rise in and dear upon the Continent. But English investors are
Ind ed, the price of London & little interested in international securities, and even speculaBritish railway stocks.
Northwestern stock has this week been higher than it has for te rs here do not deal much in them. South American secuabout 40 years. During the week the business done in British rities are, of course, an exception. This market is i nterested
railway stocks has been very large. There has been a very to a very large extent, indeed, in them. There appears to be
a crisis approaching in Mon'evideo. Indeed, according to
good investment business, and considerable speculation.
At last the rise in consols, municipal bonds and guaran- talegrapbic intelligence, the next settlement can hardly pass
teed and preference stocks is leading to that shifting of over without one. Some securities there have fallen over 50
investment which had been foreseen. Many who formerly percent. How far a crisis in Montevideo will affect Buenos
Ayres people are asking with anxiety, For a collapse in both
held the fecurides enumerated have been selling and invest
ing their money in British railway shares and in American cities would have a very serious effect on London.
The wheat market shows little change. The tendency is
railway bonds. The demand for the latter continues very
good, while the high prices reached by British railway firmer, and more busioess is being done. But there is little
Btocks are inducing holders to sell and to put their money in alteration in prices.
more speculative securities. In the early part of the week
The Bank rate of discount and open market rates at the
there were evidenc;s of a broadening of the speculative chief Continental cities now and for the previous three weeks
market which have been absent for a consid-rable time past. have been as follows:
For months, indeed, speculation here has been confined
almost entirely to nitrate and South African gold shares.
Jan. 25.
RaXti oj
Now, as just stated, it extends to British railway stocks, and
Interest at
Bank Open Bank Open Bank Open Bank Open
for some days this week it was active, too, in the market
Jiat€.
Market Bate. Market Hate. Market Mate. Market
American
railroad
for
shares.
Not only did members Paris
3
2«
3
3«
3«
4
3«
of the House and great operators outside purchase largely, Berlin
3
4
1«
4
iH
2>6
8
4
1«
4
2Vi
iH
2H
but there were very gpod orders sent up from the north of Pnuikfort
3
4
Hamburg
1%
1«
4
a
2>6
*H
England and from Scotland. Had the New York Stock AmBterdam ....
2
««
194
2
2K
2«
2>4
Exchange responded, there would doubtless have been a Bmssels
Hi
S«
3H
4H
4W
S'A
4
Madrid
4
SH
3«
4
4
sa
revivfj of interest here in the American market, but as sell4
Vienna
4
4
i!<
3H
Hi
ing s t in from New York the buying here ceased, and at the St. PeteraburR.
e
6
6X
6«
close of the week the market is much weaker than it was at Copenhagen
S
3
S
3
the beginning. Still, if the recovery of the last day or two in
]
m
m
m
m
New York
maintained, operators here will doubtless take
courage again. The conference of railroad presidents convinces the public here that the great financial houses in
London and New York have not been neglecting the interest
is
of investors, and
that their influence must prevail in
the long run, though, of course, it will take much time before
it is felt
the conference plan can b? thoroughly worked out. Besides,
operators argue that the fall in American securities has be^n
heavy and almost continuous for two years, and lastly they
urge that good trade in the United States must so improve
railroad finances as to revive speculation once more. The
action of London, however, will depend upon that of New
London will not attempt to raise prices unaided, but
disposed for the present at all events to co-operate with
York.
is
New York
The quotations for bullion are reported as follows
GOLD.
London Standard.
Feb.
7.
Bar KOld.flne
oz. 77
Bar sold, contain'^
9
&
31.
».
d.
77
9
London Standard.
Feb.
7.
Jan. 31.
d.
d.
Barsilver
oz.
4aj^
42 fl-16
42%
42 15-1»
Bar silver, contaln-
20dwt3BilTer..oz. 77 10
dpan.doubloons.oz.
S Ajn.doubloons.oz.l
Messrs. Pixley
Jan
d.
<.
bullion
:
SILVER.
iDKOgrs. gold.oz.
77 10
Cahe silver
Mexican dels
—
oz.
45 13-16
oz.
HH
41 7-l»
Abell write as follows on the state of the
market
Gold— Excepting unimportant amounts for India, no gold lias been
taken for exjiort, and the Bank has received all arrivals, amountiug to
£163,000.
£360.000 has been sold— £310,00) for Buenos Ayroa,
£50,000 to Lisbon. Arrivals: £10,000 Iroan West Indies; £10l».00tf
Irom New Yoik; £19,000 from South Africa.
Silver— 42 ifld. has remained ihe quotation since the 2d Inst. There
has been sutflcient demand 10 absorb all the parcels offering, but business for export to India has l)een much restricted, owing to the dearuess of money there, and the consequent demand for transfer remittances only. Arrivals are £160,000 from New York; £22,000 from
the West Indies. Sbipments to Calcutta, £S5.185.
Mexican Doltais—Buslness has been done since our last at 41 %d. for
the East. £v,000 has arrived from the West Indies; £66,000 from
Vera Cruz; £17,000 from South America.
an upward movement there begins.
oa the Paris Bourse has passed over more
smoothly than was expected. There have been several small
failures, and one or two unfortunates have
committed suicide.
But there has been no suspension on a large scale, all
the great operators having been provided with means
of paying their diflferences. At the same time the French
The following shows the imports of cereal produce into the
copper
syndicate has obtained a very considerable sum of money,
Kingdom during the first twenty-three weeks of the
United
so
**-*^
that it is in a position now to purchase all the
copper that season compared with previous seasons
may be offered. Indeed its members boast that they have
IMPORTS.
funds at their disposal to pay for all the copper
that c ould
1888-9.
1885-6.
1887-8.
1886-7.
possibly be forced upon them for the next
Wheat
cwt.
29,201,.525 22,618,122 22,616,037 23,65-1,888
eight or nine
Barley
10,.^27,622
9,273,821
10,2a9,403
6,637.983
months, and that, therefore, they are independent
of the pro- Oats
8,141,551
8,2o4.96S
7,04«,809
4,933,386
Peas
posed trust. Still the negotiations for the
99.i,539
967,264
1,684,602
1,098,717
formation
The
if
liquidation
:
:
trust are going on,
of the
and await conclusion only because the
final arrangements between the
French syndicate and the
American copper companies are not completed.
Under these
circumstances there has been a partial recovery
in copper
But the market is lifeless. The weak
speculators
have been cleared out, and others are watching
events
In
ttie naeantime the rise in foreign
Government bonds goes on
At the moment of writing the market is
unsteady, their
having been a slight reaction from
the highest quotations
reached. But apparently ithis is a
mere temporary pause
Beau
1,312,939
11,127,342
6,938,493
Indian corn
Flour
1,139,988
10,214,186
8,651.356
1,178,595
1,147,517
11,5-5,719 12,025,638
6,101,518
7,282.211
Supplies available for consumption (exclusive of stocks on
September
1):
shares.
188S-9.
1887-8.
1886-7.
1885-6.
Imports of wheatowt. 29.201,525 22,618,122 22,646,' 87 23.658,888
Imports of Hour
6,;35,493
6.404,518
8,654,356
7,282,241
Bales of home-grown. 1«.763,45J 19,865, -.ilS 16,593,029 20,003,434
Total
52,903,177
51,137,631
1388-9.
Aver, price wheat
Aver, price wheat
week. 298.
season. 328>
9d.
Id.
46,521,357
1887-8.
30s.
308.
8d.
2d.
1886-7.
34».
3'ia.
3d.
6d.
50,066,840
1885-6.
29s.
SOs.
9d.
7d.
. ..
:
.
February
THE CHRONICLE.
IW9.
83,
Financial market*— Per Cable.
Knaclluli
Foreign Trade op
for securities, &c., at Londoc
are reported by cable as follows for the week ending Feb. 23.
The
daily
cloriiiiK quotatioiif)
Bllver, per oz
do
«2l9
9810,,
d.
2\
Oousois.iiow
Hon.
Tuet.
Witt.
42<<a
4211
98i»,a
3al.
i>erot«.
;
981»i«
9816,6
for lu'coiiiit
PVoh
renins (In I'lrla) fr, 83 0»
;iio'4
V. 8. -lisRof ls;n
8.
480f
U)07
O.
Oanmlliin J'liclHc
Chic. Mil. A Ht. Paul....
30 14
£rle cuiiiuion stock
niluolH CtMI trill
83-90
uoas
131>9
A34t
64^8
30^8
5(ii9
PhUad'eliihla
21 '8
24 's
New YorK
RuadliiK.
A.
112%
Central
I
42^
42%
42%
98I«ii
»9i,a
99i,»
99'<,,
991,8
83-90 84-10 84-15
110i«
1103^ lioie
13l>e
I3I14
131»s
04'^
e'i
30^
30 >i
581^
112
53%
13138
53T8
64'a
64 »8
lllia
IMPORTS INTO
Uonth.
House.
The
merchandise.
Dm
30 14
1B.984.16U
(Hw.
«
31 .64a.5»7
«
4t.e!>9,717
recently been organized
3,977.— The Mcrpliants- National Bank of Lawrence, Maas. Capital,
SIOO.OOJ. Jamos R. Simpson, President; Duuui tu BUnoliard
:
Cashier.
3,978.— Tlio American National Bank of New 0rle)n8. La. Cipltal
*'2t>0.OCO. H. (iardiM. Pre,iideat; W. \V. Girault, Cishiei-.
3,979.-The Imlepoudence Nutiona' Bank, Oregon. Capitil, $50,000
H. Hirsoliljerjt, Pr^.^ident; W. P. Couuaway, CasUler.
Imports and Exports for the Week.— The imports of last
week, compared with those of the preceding week, show an
increase in dry goQds and a decrease in general merchandise.
The total importei were $9,691,43t, against $10,413,830 the
preceding week and |12,19S,072 two week| previous. The ex-
amounted to $7,798,493,
against
$6,8.53,341 two weeks previous. The following are the imports at New York for the
week ending (for dry goode) Feb. 14 and for the week ending
19
general merchandise) Feb. 1.5; also totals since the beginning of the first week in January
(for
:
FOREIGN IMPORTS AT
For Week.
1886.
Dry Goods
«2.03,5,2B8
K.
Oen'l mer'dise.
^r^-i
I
1888.
*3,2T0,898'
t! K.AA tnl-T
6.541,y97|
t).i
5,753,429
Total
HEW TORK.
1887.
CnSIOMS BBOEIPTS.
At New ToTk.
Month.
S3.S1G.210
^,— 5,875.224
.^.-,
Ir
.
*7.838.G97
$9,812,895
$9,778,745.
$9,691,134
Qen'l mer'dlse..
$17,674,011
38,539,832
$20,907,471
40,3j0.266
822,379.678
43,225.010
$23,396,316
Total 7 weeks.
$56,213,843
$61,237,737
SiJice
Jan.
1.
Dry Goods
46,765,.5.1i
$65,604,6881 $70,161,858
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Feb. 19, 1889, and from January 1. lo date:
EXPORTS FROM NEW TORK.
1386.
Pbr the week..
Fwv.
.
X888.
1889.
$5,502,661
33.692.934
$4,294,047
32,378,9a2
$5,472,428
35,815.691
$7,798,498
40.812,424
$39,195.59.^
$36.672.979
$41,288,122
$48,610,922
reported..
Total 7 weekf
1887.
The following
shows the exports and Imports of specie
at the port of New York for the week ending Feb. 16, and
since January 1, 1889, and for the corresponding periods in
^
1888 and 1887.
table
EXPORTS AND IMPORTS OF SPECIE AT
Erporls.
NEW YORK.
Import!.
Bold.
Week.
Great Britain
Prance
[Since Jan.X-
$3,764
$508,003
20,950
51,188
98.024
3,000
835.680
19,100
Germany
Weet Indies
Mexieo...
Boutb America
'83,
180
All other countries.
Total 1889
Total 1888
Total 1887
..
..
..
$138,132
354,206
128.645
$1,484,757
1,631,791
1,293,601
Exports.
Sreat Britain
Prance
Since Jan.l.
173.700
148,610
1,500
538,125
331,960
77.708
"7',658
6,851
31,199
38,016
$337,719
334,140
9,850
$1,026,765
715,431
3,237,862
9,457
Imparl!.
aUver.
Week.
Week.
SinceJan.
1.
Week.
Siiux Jan.X.
$137,000 $1,946,382
7,500
37,400
Germany
30,U8,U4
Jannarr
40.88S.2ST
1888.
»
t
I
84.058.029
Jmuary.
M.031.780
13.49e.t31
—
The thirty-ninth annual statement of the Mtnhattin Life
Insurance Company, which we publi-ih thi4 morning, suggests
that witbout engigin; ia expansive discutsioi^ of methods of
insurance or playing with new exp.-rim^ntj the Minhattia
keeps steadily on the even tenor of Ua way and clones tha
year with a ban Uome increase daring 1833 in its net assets
and a general tone of healthy vi^or in all its departments.
AmoDg insurance companies, as among other financial institutions, it is by no means necessary to h'lve a company of
gigantic proportions to insure safety in its dealings, but careful management by honest and capable men is the best guarantv everywhere.
Among all the foreign steamship companies entering New
York ptrhaps no conpaay has grown in favor with people
from all parts of the United States more than ihe French Ime,
the General Transatlantic Company the only direct line to
France. Besides doing a large freight business, the passenger
liets have grown to such an extant that it is hardly possible to
secure first or second class passage except by application a
long time ahead. The company is seriously considering the
proposition of putting on additional boats to meet the extraordinary demands which the French exp osition will bring.
The report of the Equitable Life Assurance Society of the
—
—
—
1889.
$3,209,603!
J. e.i>c. .in
6,569,112
II6.8S7.S40
Total MerehandUt,
t
week ended Feb.
$5,976,713 last week and
18.830.747
BXPOKTS FROM NEW TORK.
National B.vnks.—Tlie following national banks have
(Moi.
Merehtm-
Goodt.
«
»
JannuT..
3038
241a
Ill's
1B89.
for the
state-
O^Mral
Dm
7otal.
Mte.
Month.
ports
first
HEW TORK.
Qentral
Ooott.
111%
24%
ni»8
-24%
•25 >8
lH"s
total imports of
1388.
lllio
5638
5(>38
New York Custom
by our
ment covers the
8417 «
110%
30 >«
111<«
112
ft659
tH.
54
112
Pennevlvania
I%ur$.
New York— Monthly Statement.—In
addition to the foregoing tables, made up from weekly returns,
we give the following figures for the full year by months, also
issued
London.
241
Unit^'d States for 1888 shows the enormous proportions to
whicb the business of life insurance has grown. It is siid
that a new business of over $163,000,000 in a year is not only
more than has ever been accomplished by any other company,
but is more than many companies have done in a quara century. Its outstanding assurance of $•'5.50,000,000,
surplus of more than $20,000,000, accumulate.! in the
29 years of the society's existence, are a fitting monument
to the enterprise, skill and industry of the management.
The famine in China is very severe in conS'^qmnce of
fioods and drought, and an infiueutial committee ia Shanghai
have cabled Eogland and America for help. Mr. A. A. Low,
31 Burling Slip, Mr. A. M. Townsend of the Hong Kong and
Shanghai Banking Corporation, 50 Wall Street, and other distinguished business men, have consented to act as a committee to receive funds, which will be cabled at once for the immediate supply of food to the starving poor under a j adicious
system of distribution.
The New York Life Insurance Company makes another
The new insurance
telling statement in its report for 1888.
written during th-* year was $125,000,000, and the assets Jan.
1889, were $93,4^0,186, and surplus by the new State
1,
standard of 4 per cent is $13,500,000. AU the items show a
large increase as compared witti 1887, and the whole exhibit
is worthy of study by those looking for insurance.
Kirk ia
Attention is call d to the card of Messrs. Tobey
This firm is now offering several mortto-day's Chbonicle.
gage bonds which they highly recommend for careful iovestors.
Among them are the Ist mortgage 6 per o^nt bocds of
the Overland Railway Company of Nashville, Tenn. Patties
desiring to transact business with a well posted a id careful
firm may be glad to correspond with them.
—The Vanderbilt Benevolent Association of Charleston,
S. C, of which Mr. A. C. Kaufman is President, will visit
Washington during the inauguration week to take part in the
parade and the other pleasures incident to the occasion. This if
in no respect political, and merely shows a spirit of good fellowship in the Southerners which all liberal men are glad to haiL
—The Ontario Silver Mining Company has declared its
usual dividend of 50 cents per vhare, or $75,000, for January,
payat'le at the ofiice of Me serf Lounebery & Co., 15 Bread St.
—The Homestake Mining Company has declared its usual
dividend f 20 cents per share ($25,000) for January, payable
Co., 15 Broad Street.
at the office of Messrs. Lounsbery
ter of
its
—
—
—
&
.
West Indies
Mexico
4,857
Bouih America. .'."II
All other ooun tries,.
Totall889..
Total 1888.
Total 1887..
,
750
$150,107
3^5,093
301,741
8,758
9,576
7,004
63,888
52,550
20,689
16,247
5.619
163,066
>2,063,432
1,801,909
1,325,551
$63,651
96.813
25,548
$203,621
240,7S9
237,417
625
900
Of the above imports for the week in 1889 $2,500 were
American gold coin and $1,172 American silver coin. Of the
exports during the same time $S3,180 were American gold
coin, and $357 American silver coin.
—The Daly Mining Oomptny has deolared a dividend of
29 cents per share, or $37,500, for January, payable at the
offloe of Messrs. Lounsbery & Co., 15 Broal Street.
(
&
—
Auction Sales. The following were sold
Son
auction by Messrs. Adrian H. MuUer
Shares.
10 Western National Bank..l00>4
10 Prudeutitil Fire Ass.. N.Y. 91
225 N. Y. Milt. Giia-LiKllt Co. 98
25 Knickerl)0(-ker Ice Co. ... 98
130 Firemen's Insurance Co. 80>4
13 Lonf; Islunrl Flte Ins. Co. 86>9
10 2d Avenue KR. Co
lOm
6 N Y. Standard Watch Co. 35>s
&
recently »t
Shares.
4 OawefTO Starch Factory.. 120
9 Flint A Pere Mar. RR.Co. 95
56 BulTalo Cuemfcal W.nks $70
60CenParkN.&EKRR.C>>. 90i*
Jinnds.
$2,000 Detroit & Bay City RR.
Co. I8t88, 190-2... 13.!HAint.
^
:
THE CHRONICLE.
242
;
:
[Vol. XLVIII.
Actual rates have tended upward and the posted rates
on Thursday were 4 87 and 4 89i. The high rates
ruling have led to the resumption of gold shipments, though
thus far only |500,000 have gone out.
The rates of leading bankers are as follows
bills.
'ghz ganlijers' ^azjettje.
DIVIDENDS!
The following dlvldenda have recently been annonnoed
Per
Ifame of Company.
Delaware
Railroads.
& Bound Brook
Eastern, pref
Cent.
(qiiar
1
3
)
•
& Jackson,
West Jersey
West Jersey & Atlantic
Fort Wayne
2%
pref
3I3
21a
Books Oloted,
'When
Payable,
Feb.
at the close
39 Feh. 17 to
1
March ij
March liFcb. 22
March 1.5
March 15
Sixty Days.
Fehniary 21.
(Day inclusive.)
Demand,
4 87
4 89 13
rrime bankers' sterling bills onI.ondon.
4 S5i4®4 85I3
Prime commercial
4 85 i»4 85 14
-.
.
Documentary commercial
5 20 S'S 1938 5 1712*5 ICs
Paris (francs)
40i4»406ig
401,634018
Amsterdam (guilders)
95i4a>9538
Frankfort or Bremen (reichmarksl
95%5»95\
United States Bonds.— The Government bond market conFeb. 15
^1
J)elaware Division (quar.)
tinues very dull, and business has been confined to a few sales
MlacellaneouD.
Feb. 15 Feb. 16 to
2
Brush Electric
of the 4s, the price of which is well maintained and strong.
March 1 Feb. 19 to Mar. 1
3Jfl
Oregon Improvement, pref
Treasury still confines his purchases to
Feb. S5lFeb. 16 to Feb. 25 The Becretarv of the
1
PUila-lelpliia Oompany (monthly)
the 4i9, of "which he has taken $1,720,400 for the week,
WALili STREET. FRIDAY. February 23. 1SS9-5 P. M.
The total payments made for bonds purmostly at 109J.
The Money Market and Financial Situation.— To-day chased from April 23, 1888, to February 16, 1889, were
legal
holiday
in
is
a
birthday
Washington's
being
(Friday)
The statement for this week is as follows:
New York and all the Exchanges are closed. The week has $137,723,889.
movements,
and
the
at
4 Per CenU due 1907.
been rather colorless in its financial
iHPer Cents dut 1891.
Stock Exchange business was moderate, with a tendency to
Offerings. PurcVes, Prices paid.
Offerings, Purch^es, Prices paid.
wait for further developments. The chief event was the final
$500
137,000
109«
consummation at Chicago of the Railroad Presidents' agree- Saturday... tSOT.OOO 418,000
418,000
190JS
ment by the signatures of the ofiicers of all leading companies Monday
eoo
555,100
655.100
109J<
Canal.
—
Tuesday
except the Illinois Central, Chicago Burlington & Northern, Wedn'sday.
1,500
518,300
613.300
109-109J<
Missouri
and
the
Kansas
&
Memphis
Scott
&
600
Fort
City
197,000
Kansas
897,000
109K
Thursday...
..noliday..
hands
of
receivers,
and
a
in
the
named
is
last
the
Friday
Texas—
dispatch states that they will sign by order of the court. Mr.
!,250,<00 1,720,400
109-109H
Total.
..
51.S3r.HO0l 184-70-130
i8,014,650 106>^-10il)<
Perkins, of the Chicago Burlington & Quincy, signed, notwith- BlnoeAp.23.
standing the unauthorized reports last week that he would not,
been as foUowg
Board
have
the
Y.
at
N.
The closing prices
and the Wisconsin Central also came in at the last moment.
Feb,
Feb,
Fe6.
Feb.
Feb.
Illinois Central approves of keeping up rates, though claiming
Interest Fell.
22.
20.
21.
18.
19.
Periods
16.
to have no authority by law to sign the agreement and upon
the whole these long and important negotiations of the Rail- 4>«8,1891
'107''8
107'8
•107^8,
107 '8, 1 07 '8
reg.
109 1*109
109 "109
109
road Presidents have ended much more favorably than we 414s, 1891
coup,
129
i28''el 128''.i'128^
*128?t
reg.
1907
4s,
during
the
past
two
weeks.
reason
to
expect
had
have
128''3*128%
•128%
128
12B%
coup.
'8
1907
The great Atchison statement, with financial exhibits to 4b,
120 1*120
120 *120
120
reg.
68, our'cy, '95
122Xi *122is
122%
J.
1221a
in
reg.
dt
1221s
J.
69,onr'oy,'96
Nov. 30, was issued last Monday, and it is very complete
J. *12oi«' 125>ii •125-H *123% *125%
&
reg.
J.
'97
our'cy,
68,
The main points not already foreshadowed by the
details.
*128 id
I28I2
'128^1*12834
12Sia
<b
J.
68, cur'cy,'98....reg. J.
preliminary figures are the oflicial estimate of total fixed 6s, cnr'cy.'99
reg. J. & J laiVl 13m!*l31^'*131i-2*131i2
• Tills is tbe price bid at tlie mornlnic board
no sale was made.
charges of every sort for the year 1889, which amount to
$10,918,558; and the exhibit of stocks and bonds of auxState, and Railroad Bonds.- la State bonds there continues
iliary companies now owned by Atchison, unpledged and
to be only a very small business and no feature to the market.
free from all liens and charges, of which the actual cost The State authorities of Virginia have taken steps to limit the
was $9,816,807. Against the estimate of charges in 1889, amount of coupons offered in payment of taxes, and threaten
which is made very full, we have the earnings of the year 1887 special legislation to effect their purpose. The amount of
on 5,342 miles of r^iilroad, amounting to $10,954,587. The these coupons tendered to the State has been increasing rapidyear 1888 was notoriously bad but if Atchison, under the im- ly and embarrassment from this cause is feared.
proved condition of rates, &c., can earn on 7,121 miles of
The railroad bond market had some buoyancy, and during
road only as much as it earned in 1887 on 5,342 miles, it will the past week there was a continued good demand and conhave a surplus over fixed charges. The Chicago line, the most siderable strength in many classes. The demand and strength
important of all the new mileage, promises to earn handsomely. are still most conspicuous in the lower- priced bonds, and highLast week we mentioned that the reorganization trustees of priced securities are comparatively neglected. Special features
the Chesapeake & Ohio Railroad had the option to "capi- have been few, though Denver & Rio Grande and Denver
talize" for two years one- fifth of the interest on the new 5 per
Western securities, Louisville New Albany & Chicago consols,
cent mortgage bonds. This was merely quoting from the re- Virfinia Midland general mortgage and Tennessee Coal & Iron
organization scheme an important proviso touching the
International
68 have all advanced more than the mBJority.
interests of bondholders, but it now appears that the trustees
Great Northern coupon 63 further declined and then recov&
have relinquished this option, and the new bonds carry 5 per
In the latter part of the week there was less
ered a little.
cent gold interest absolutely.
Parties connected with the
strength and some of those quoted above reacted slightly, the
Denver & Rio Grande road deny positively that any negotiavolume of business also falling off.
tions are pending between their company and the Denver &
Railroad and Miscellaneons Stocks.— Business at the
Rio Grande Western, and therefore the movements at the
Thursday, to-day being a close
Board in the bonds of either company must be independent Stock Exchange closed with
Not only is the week short, but business has been
holiday.
of any such action.
times the market
The open market rates for call loans during the week on lighter than in previous weeks lately and at
waiting tendency has been apparent
tock and bond collaterals have ranged from 1^ to 3 per cent. has been quite dull.
much of the time, in consequence of the uncertainty as
Prime commercial paper is quoted at 4(®4i per cent.
Association, and
The Bank of England weekly statement on Thursday showed to the fate of the Inter- State Railway
relations of
the non-assenting railrOhds.
the
to
as
also
a gain in specie of £127,000, and the percentage of reserve
several prominent companies to sign was
to liabilities was 45-40, against 44-85 last week; the discount The refusal of
but exerted no great influlate remains unchanged at 3 per cent. The Bank of France finally made known on Thursday,
ence on the market; the tendency, however, has been downgained 3,650,000 francs gold and lost 3,775,000 francs silver.
grangers
The following table shows the changes from the previous ward, and prices have been somewhat unsettled. The
week and a comparison with the two preceding years in the continue active, and, though given fair support at times, show
The shipment of half a million
a slight decline for the week.
averages of the New York Clearing House banks:
gold was somewhat adversely commented on, but it has no
real significance in the present extremely easy condition of
1889.
DWr'ne's fi'm
1888.
1887.
'
Feb, IG.
Prev, ~
Week.
Feb. 18.
Feb, 19.
The foreign operations have had some
the money market.
an
causing
advance in Erie on Siturday last and
influence,
%
Capital
60,762,700
Monday, but later causing an opposite result by orders to
.
;
I
1
;
;
A
_
Surplus
52,402.800
lioans and dlso'ta. 408.001.600 Deo.
9,300 36G. 249.400 367,350.000
Bpeele
90,.^3(! 000 Ino .3,715;400 79,843.400
91.617,200
droulatlon
"24,300
4.356.O0OiDec.
7.661.200
7.646.600
Met deposits.,
438,0-»n.4ijO Ino .3,129.900 382.908.900 391,778,500
Ijegal teinders...
30,281,701; Inc. 209.700 33,821,200 21,776,700
IiOgal reserve..., 109,522.100 Ino . 782,475 95,727,225
97,914,700
Baserveheld
126,817,700 Ino .3,925,100 113,664,600 113,423,900
Bnrolns reserve.
—
17,295.600 Inc .3,142,625
17,937,3 751 15,479.200
Exchange. The features of the sterling exchange market
this week have been its duloess and strength.
There has been
little demand for remittances from any source,
and the strength
of the market is due to the scarcity of all kinds of
commercial
sell
other stocks.
coal stocks have been the most prominent
groups, and both are subject to rather adverse influences. In
the case of the coal stocks, a poor condition of business in the
The Oregon and Northern
coal and iron markets is reported.
Pacific group has also been subjected to a decline this week,
on bearish pressure, nothing definite to account for it being
Oregon Improvement was specially weak, and was
apparent.
Union Pacific and Missouri
quite freely sold at one time.
Pacific were also depressed on bear rumors, and Manhattan
followed Missouri Pacific in its decline, though early in the
week it was quite strong and went to par.
The grangers and
'
....
February
THE CnRONlOLE.
28, 1889. J
STUCKS-PKICES AT
N.T.
243
STOCK EXCHANeE FOB WEEK ENDING FEB.
39,
HIQH£ST AND LOMTEST PRICES.
8TOCKB.
ActlTe
UR.
I'cb. 18.
Feb. 19.
Feb. 20.
53% 65
52%
5i\
Central of Now Jersey
Central i'a<;illc
O., reorg.
oen.
Istpret..
5«>e
98 >4
3U>4
363e
20^
21<Ss
19>e
203g
reori?. cert.
do
do
52^
US
reorg. cert
JK) Vutiiiu Trust, cert..
Vo
Do
Feb. 16.
*52>8
Canada Boutborn
Do 1st iireJ.
Do ad i>ref.
Tueaday.
513g
8
Umadlan PaolHc
&
MondAT,
Stock*.
Atchison Top. &8uutul''o
AUantlo A Paclllo
Ohesai>eaki<
Saturdmy.
52% 93
6S\ 56%
98
98
30 '4 3614
2138 2138
•18
20
1939 19%
16% 16%
l(i>4
60
S5I4
8
60
1.1
60
32
8
8
70e
53
53
5539 50
9779
97
53
21
933e
7»8
S3
3558 3500
207, 2079
>4
19% 1914
16% 10%
6038
52% 53%
18%
19% 19%
•17
•19
38% 58%
16
57
32
ZUiiref...
9,383
7,380
Louisville & Nashville
Louis. New Alb. & Cliioago...
Uanliattan Elevated, consol..
Mlohlgan Central
Mil Lake Shore & West
Do
Hlnneapolis
&
Do
60%
48
98% 100
73
•5%
6%
13
13
13%
1358
73«8
73
•10
9B38
91
90
•70
102
•11
6\
15
13 14
73 %
48
*70
*11
•1258
69
60% 60%
6II4
48%
91
75
101% 102
•5%
&Xexas
60% 60%
48%
96% 99%
90% 91%
48
'70
73
1023a 10231 1025s 1023b
69
prof
Bt.Louia
pref
Missouri Kansas
Missouri Faollio
60 14 6038
48I3 481s
951s 96
90^8 9078
5%
13%
72%
5979
101% 101%
102
7
•6
7
'5%
14
•11
15
•11
127a
13%
1379
7333
7178
6038
46% 47
9878
97
98%
90% •89% 90%
•70
75
72%
48
7
13
13%
70% 72
1358
72%
•11
•11
12
12
11% 12
12
Nasbv.Chatt auooga &HL Ix)ul8
83% 89 12 89% 92
90% 90% 90^
90% 91% 89
New York t'.utral & Hudson. 10912 1091s 109=8 10958 109 109% 109 109 109 109%
•19
1913
19% 19% 19
Sew York Clue. <& St. Louis.
19
19
18% 18% •18
75I3 •74
Do
76
Ist pref. *74
74% 74% •74
73
75% 73
Do
41
44
'42% 44
44
»43% 44% •43
2duref.. •43
44
York Lake Erie & W^est'n 29 19 30 14 2934 30% 29% 3039 29% 30
29% 297a
Do
69
69 Is 69% 70
pref.
69
68% 69% 08% 69% 68
4779 48%
New York A New England
4773 4879
48
48% 47% 48% 473a 48%
New York Ontario & West
18
18
18% 18% •1758 18
1769 17%
17% 17%
914
914
New YorkSusq. & Western...
878
•8% 9
878
9
9
9
9
Do
34% •33% 34% •33% 34% *33% 34
pref. •34
33% 33%
•17
•17
Norfolk* Western
•17
18
18
17% 16% 16%
17% 17%
•52
Do
pref
52% 523a 52i« 52
5238
5238 5238
5
52
Northern PaolQo
2719 2738
27
27% 2678 27% 26% 20% 2639 26%
Do
6214 62%
pref
62% 6238 6158 62:% 61% 6I59 6139 61%
23"8 2378
Ohio i Mississippi
2378 2379 •23% 24
Oregon & Traus-Coutlnentfll.
33
33% 33% 33% 3238 3339 323a 3298 32% 3269
Peoria Decatur & Evansvllie.
27% 27% 27
2738
2T
27
27% 27
26
26%
Pbila.&Read. Vot.Trust.Cert.
48 \ 49
4879 49%
4838 4858
4759 48%
483a 49%
26 ''a 2714 27% 27% 2658 2738 26% 27
8lolunond<& WestP'tTermlnal
26% 2669
•81
Do
•81
82
pref
82
81
80
80
80% 79% 80
Borne WatertownJfeOgdensb'g*100% 10:
101% 101% 102 102 '101 102
100% 101%
""
Be Louis & San Francisco
•25
26% 26% •23% 26
23
20
26
26
26
Do
64
64% 04% 64% 64% 64% .64% 64% •63% 64
pref.
Do
Ist pref. 110% 110% 110% 111
110% 111
110% 109% 109%
etPaulA Dulath
•38% 39% •38% 39% •39
•38% 40
40
39
39
•93
Do
•93
pref
94
95
•92% 95
93
92% 92%! •93
Bt. Paul Mlnneap. & JUanitoba.
•103 104
104% 104% 103 104791
Texas & PaclUo
21% 21% 2139 217g 213a 217e 2139 2139 21
21%
Dnion PaclUo
65% 66
65% 66% 04% 66% 64% 6479 0379 6I69
."
Wabash 8t.L. APaciflc
13% 13% •13% 1379 •13
-1359
•13%
1379
1379
137e
pref
27% 2738 27% 2738 27% 27% 27% 27% 2678 27%
_„ Do
Wlieellng A Lake Eric, pref..
60% 663a 06
66% 63% 6639 65% 6579 6538 66%
iniacpllaiieous Stocks.
Colorado Coal & Iron
•35% 3638 3558 35=8 35
•34% 36
35% 35
35
Consolidated Gas Co
82% 82 14 82
83
82% 83% •82
83
83% 83%
Delaware A Hudson Canal. !.. 137% 137% 1373s 137% 13714137% 13739137% 136% 136%
Oregon Improvement Co
63% 65
63
63
60% 60
39% 6439' 59
60%
1*0
•90
pref. 104
104 •xlOl 102
_
93
99
99
Oregon Railway A Nav. Co
95% 95% 96
96
94
94% 93% 94% 95
95%
Pacitlc Mall
.«
3858 38%
3779
38=8 38% 38%
38
38%
38%
37%
Plilla<lelphia Co., Nat. Gas!!" •76
79
77
77
75% 75% 76% 76%
Pullman Palace Car o
202% 201 202% 201 201% 200 200%' 199% 199%
!!! 202
Western Union Telegraph
86% 86% 86
80% 8379 86% 85% 8579 85% 8579
MobUedt Ohio
11
1131
.
ew
94 % Jan.
2 100
35% Jan.
17%Jan.
7
4
'"294
14% Jan.
15% Jan.
_
Exprens Stock*.
.
150
•113
141
Inactive Stocks.
A Cable Co
American Tel.
CliicagoGas Trust
Denver A Rio Grande West..
Denv. Tex. A Ft.W.,Vot.ccrt
Morris A Essex
Oregon Short Line
,
Pitts. Ft.
M
\.
A
i
857^
41
41%
48
'7
,
Perry Coal A Iron....
A Iron
pref...
7%
150
112
80
141
153
115
82
144
85
83
41%
17% 18%
23
23%
149% 149%
47% 48
41
I
39
101% 103
150 150%*150
114% 113%114%*113
84% 82
83% 83
141% 141% 140 145 '140
150
114
82
133
85
83
41% 42%
I869
2339
18%
23%
45%
4759'
15039 15039 •150% 151
•7
7%
37% 39
17% -16% 17%
•9
•9
10
10
24% 26% 26% 26%
35
35
32% 33
33
33
SO's 31%
31
31%
34% 3538 35
36%
33
17
Stocks, 4c. (Unl Uted.)
Amer. Cotton on Trust
58
103
'7
*37
•16
7%
84% 84%
41% 42%
18% 18%
21:19 Feb.
13
14
15
14
15
1,200 42%.Tan.
1,503 91% Jail.
63.673 0139 Jan.
9.787 93% Feb.
42,183 10479 Feb.
.30.' 140
Feb.
14,623 93 Feb.
200 14 Jan.
130 33 Jan.
1,895 30% Jan.
1,158 89 Feb.
4,235 9169 Jan.
5,465 53 % Jan.
405 24% Jan.
51,950 139% Jan.
295 16% Jan.
225 42% Jan.
460
8% Jan.
813 63 Jan.
23
1779 Feb.
Fob.
33% Feb.
111% Jan.
43% Feb.
100 Feb.
6038 Feb.
108 Jan.
109% Jan.
•16
17
•9
10
26
26
|
'
141
8.)
7%
8%
750 29
4,663
2,565
8,280
8%
25% 23%
3339
3278
3339
31
31%
31
31
3079
36% 37% 36% 37
103 103
104% 103 105
60%
92%
t
31
36% 37%
102
104
69% 59%
9039
Lower
9179
price
U ex-diyidend.
59
92
2,2151 33%
50' 75%
3,079, 172
12,325
9
4
12
12
12 142
13 10079
15 19%
21 42%
3 34%
13 96%
83
Feb.
Feb.
Jan.
Jan.
Fob.
Jan.
Jan.
473
.Ian.
8 36% Feb.
85 Jan.
9,1385a Jau.
20, 72% Jan.
20 107% Jan.
21 97% Feb.
30 40 Feb.
20! 81% Jan.
3 205% Feb.
2 8669 Feb.
80% Jan.
31
11
Jan.
% Jan.
15 Jan.
Jan.
4179 Jan.
149% Jan.
5% Jan.
35 Jau.
14% Jan.
8% Jan.
21 Jan.
30 Feb.
24% Jan.
29 Jan.
31 Jan.
93 Jan.
350 144
4,480
200
1,500
3,620
1,740
20.990
1,680
55,975
7.020.000
;
4838 Jan. 16
83% Jan. 18
Prices
87
11
8
1
14
15
Jan. 21
2l|
150 144% Jan. 2 153
34 109 Jan. 10 116
2,140 73% Jan. 4 84%
15 134 Jau. 19 141
400
32%
Jan.
80% Jan.
130% Jau.
136j 98
3,395
38
17
35
3279
61
1
180
100
•7
•36
16
17%
9
83%
'
7
7
•36% 39
16
Fob.
Feb.
Jan.
Feb.
9 110% Feb.
4 74% Feb.
2.
28% Feb.
16 14469 Jan.
22 17% Jan.
31 45 Jan.
23
9% Feb.
28 70% Feb.
310 21% Jan. 24 23% Feb.
320 86 Jan. 30 95 Feb.
260
4% Jan. 5 7% B'eb.
3.470 106 Feb. 13 116% Jan.
2,910 1
Jan. 20 19
Feb.
6,435 5138 Jan. 4 58''>8Fcb.
14,930 101 79 Jim. 21 106 Jan.
331 90% Jan. 14 96 Feb.
18,630 56% Jan. 4 61% Feb.
1,620 37% Jan. 7 49
Feb.
17,669 90 Jan. 3 100 Feb.
2,220 3434 Jan. 21 91% Feb.
120 5 1 % Jan. 7 71 B'eb.
1,826 91% Jan. 7 103 Feb.
3% Jan. 7 7 Feb.
'"25 11%
Jan. 18 13
Feb.
10.285 12% Feb. 12 14 Jan.
33,110 70% Jan. 4 75% Jan.
600
8 Jan. 11 12 Feb.
9,100 8178 Jan. 12 92 Feb.
531 10739 Jan. 3 110% Feb.
183 17% Jan. 9 1959 Feb.
110 67% Jan. 3 77 Feb.
125 37 Jan. 3 44% Feb.
107,303 2634 Jan. 4 30% Feb.
3,100 01 Jan. 4 70 Feb.
45,753 4234 Jan. 4 4379 Feb.
83
14% Jan. 5 19:'9 Feb.
373
8% Jan. 8 9% Feb.
400 32% Jan. 24 35 Fob.
250 16 Jan. 7 18 Feb.
1,300 49% Jan. 3 53% Feb.
1,988 25 Jan. 5 27% Feb.
17,341 59 Jan. 5 6268 Feb.
1,100 21 Jan. 24 24 Feb.
19,930 30% Jan. 23 3359 Feb.
2,200 22 Jan. 24 28% Feb.
92.130 47% Jan. 24 50 Jan.
23,915 2259 Jan. 26 27% Fob.
2,210 76 Jan. 26 82% Feb.
253 93 Jan. 3 103% Jan.
300 23 Jan. 18 20% Jan.
1,030 01 Jan. 18 6678 Jan.
115 109% Feb. 21 114% Jan.
100 38% Feb. 12 40% Jau.
20 92% Feb. 19 9538 Jan.
1,500 9369 Jan. 4 105 Feb.
6,420 19% Jan. 25 23 Jan.
46,458 62 % Jan. 24 66% Feb.
100 12% Jan. 3 14% Feb.
1,700 24 Jan. 9 2779 Fob.
3,310 59% Jan. 5 6779 Feb.
150% 150%
•150% 151
23 Feb. 13
4 20% Fob. 13
4
19,110
1,400
5,312
39
26% 27
35% 35%
152
115
85
Jan. 4
36%.Tan. IS
21
21
18
13
41% 42%
18%
2279 23%' 21% 23
148% 148% 14914149%
4339 45%
46
46
59% 58
58% 59
69% 59%
897, nm,
1
8958 92
90% 917, 9039
Xhtae are the piices bid and asked; no sale -mm made at the Boaid.
Wpe Linn Certiflcntea
•
4868
•150%
TanuMsee Coal
^'^
w
yaHoas
144
8579
17% 17%
23% 2379
Wayne AChio.
Qaloksllver Mining Co
^°pref.
T>, L
Rich. A Allegh'y, Drexel roo
Bt. Louis Ark. A Texas
Tol.-Ann Arbor A N.
Virilnia Midland
^meron Imu A Coal
r;.
133
115
79% 80
2
Feb.
Fob.
Feb.
Feb.
I
American
Onl ted States
Wells, Fargo A Co
Jan.
'J
a
'
Adam.i
1889.
8% Jan. 14
53% Feb. 7
56% Feb. 14
l,29.-i
57
32
49,585 99
9
68
21
7»8 Fob. 20
3,390
700
.
.Tan.
1,
Hlgliest
51 .Ian. 22
.30% Jan. 24
1,458
155
Qulnoy.
iSt
4779
497
600
55%
96%
35%
21%
18M.
1.
Lowest.
Shares.
87,903
32
32
32
I02»8l03>9 102% 104% 102% 104 :i8 1100% 102% 10058 10169
14
44%
44%
44%
4438
4468
4438 •43% 44%
44
7e
UliicaKO lb East. Illiuois
98
98»4
98
98
97% 98
pref
97% 97% 06% 97
Do
ails
63%
64
Ts
6338
63
Paul.
6378
61»e
63%
62% 6358
CUoaeo MUwaukee & St.
IOOI4
9914IOO
99% 100% 99% 100
pref. 100
99 100
Do
107
lOT^
107%
107
107%
1003gl07%
106%
107»s
106%
OUoago A Nortbwestem
141 •140 141% '140 141%
pref. Ill's 14119 141% 141% '140
Do
97
9U\
97
977^
Pacitlc
97
Island
&
97
hi
14
95%
96%
'8
96% 97%
OhloaKO Rock
18 14
19
18
19
18
17% 19
CUoagoBt. Louis i&Pltts)iurK. *18
•41
"41
"40
42
42
40
40
nref.
41
41
40%
Do
32% 3338 33% 33% 32% 32% 32
32
321s
OUcagoSt. PanlMln. & Oin.
93
93
93
•91
93%
92
93%
91%
02
91%
Do
J"^'10913 108 109
108 108% 10779 109
108% 109
Clnolii. Ind. St. Louis & Culo.. 109
73
7378
73 Sb 74
72
UlevelandO<>I.CIu.>.'k Initlanap.
72% 71% 727a 72% 72%
'26% 27
27
20% 20%
Columbus Hocking Val. ATol •2619 27^8 27% 27% 27
14218
142%
142%
141%
1421s
142% 11168 142% 14078 14179
Delaware Ijackawamia & West
1638 Ji638
1713 17i«
17
17
16% 16% •16% 17%
Denver &Blo Q., assessm't pd
43=8 4358
43% 44
•43
•43% 44
•43% 44%
pref
44
Do
9I9
9% 9%
Eaat Tennessee Va. A Ga. K'y
9% 9%
9% 9%
7013
•69
70
70% 70
Ist pref
70
71
Do
701s
697a 6978
•23
24
23% 23% 22% 22% 22% 22% •22% 23
2d prof.
Do
•94
95
95
96
STanavtlle <fe Terre Haute
91% 94% •93% 93
6I4
7
7
6% •6
Oreen Bay Winona & St. Paul.
7
7
6% 6% •6
109
110
109
14
109% 108% 109% 10838 108% 108% 10878
Illinois Central
I8I9 18S8 *18i4 18%
Lake Erie & Western
18% 18% 18
18% 18%
183a
57% 58
58
0814
pref
Do
57% SSM 5779 58% 57% 58%
Lake Shore & Mlcb. Soutlieru. 1043a 104^8 10438 104% 104% 104% 104 104% 1037910414
94 96
94
Long Island
94
95% 95% 94% 94% •94 96
OhloaRO Barllneton
Week,
•7% 8%
•52% 52%
54%
95%
35%
21%
95% 65%
96% 07
35% 30%
21
Fob. 21.
Friday,
Feb. 22.
JAN.
Range Since Jan.
Bales
of the
Thursday,
Wedneeday.
AND SINCE
14
6
6
14
1
15
14
7
2
14
10
11
13
8
1
8
15
7
13
15
7
19
15
19
14
13
7
7
4
14
14
12
18
2
4
4
2
18
18
18
7
12
8
1
2
11
12
11
12
13
15
13
3
31
15
2
12
14
18
1
14
11
2
7
4
11
IS
30
16
30
7
2
11
4
Feb. 4
Feb. 4
Feb. 19
Feb. 3
Feb.
42%
7
Fob. 19
Feb. 19
2434 Feb. 11
150% Feb. 9
4979 I'eb. 11
18%
151
F"eb.
11
7% Feb. 12
38% Feb. 15
17% Feb. 15
10%
Jan. II
27
Fob. 19
39%
Feb. 11
3339 Feb. 19
32 Feb. 11
37%
105
60%
92'V)
Feb. 21
Feb. 19
Feb. 13
Feb. 15
trom botli Exchanges.
"
..
.
THE CHRONICLE.
244
BONDS
— LATEST
PRICES OF ACTIVE BONDS AT
Clotinff.
Feb.21. Feb. 15
20 Jan.
21>sb. 22
* P»o.-W. D. Inc., 6e, 1910 82>4
8214
781a Jan.
Guar., 49, 1937
i—.Qna
1081a 1061a Jan.
Oua. South.— let guar., 58, 190» 108
93 14 Jan.
96»8
96%
8(1,68,1913
•.;--,-Snn
Oentralof N. J.— Ist, 7b, 1890 103^6 103 b. 103 Feb.
Jan.
121
b.
120
122
Ooneol.7s, 1899
125Mb. 125 b. 125 Jan.
ClOBvert. 78, 1902
110
Jan.
106%
109%
1987....
General mort., 5e,
119
1151a Jan.
Leu, & W.B.,con.78, 1909,a8'iit 118%
llOija.
Jan.
108
..
1921.
58,
Am. Dock <te Imp.,
113i4Feb.
Central Pacific— KOld 6b, 1898.. il4%b. 116 a.
104iab.
Jan.
a.
1021a
105
1890
Land jcrant 6s.
106i«b. 105% Jan.
Mort. 68, 1936
8714b.
Jan.
79%
0.-68,g.,B,reorK.cer..
OheB. &
7914 Jan.
87
Ext.coup., 48,1986,reorK.cer. 85 b
33
Jan.
oer.
reorg.
31%
291a
1918,
8«,onrrencj,
117iab. I17I3
II314 Jan.
Mort. 6s, 1911
,-v,v108
•107
Jan.
b.
14
5-68,
1911
109
Oiee. O. & 80. W.—
Jan.
Ohlo.Bur. & Nor.— Ist, 58, 1926. 100 ^ib. 10014b. 98
OUo. Burl. & Q.— Con. 78, 1903. 131 b. 131 lab. 131 Jan.
1031a Feb.
104'flb. 1041a
Delienture 5e, 1913
92»ab. 92isb. 921a Feb.
Denver Dlvle., 48, 1922
91 '8 Jan.
94
Nebraeka Ext. 48,1&27.... .. 94 >9
119 b. 118 Jan.
1907
119isb.
f
8.
6%
1st,
ni.—
.,
&
E.
Ohio.
12iieb. 122
118 Jan.
Con. 68. 1934
103
97 Jan.
102"e
Geu. consol. Ist, 5s, 1937
99 Jan.
Ohio. & Ind. Coal R., Ist, 58, '36 lOSisb. 103 »8
lii3i«b.
1905
78,
Jan.
'Jonaol.
123
>sb.
St.PA
1221a
Oh.MU.
Jan.
Ist, Bouthwest Dlv.,69, 1909. 114 b. 114isb. 112
68,1910....
112
11212
110
Jan.
DiT.Mill.
80.
let,
I0oi4- 103
Jan.
iBt, Chi. & Pac.W.Dlv— 5s,'2] 105
Wis. <fc Min. Dlv.— 58, 1921.... 10114a. 101 b. 99 Jan.
100 b. 1021s 100 Jan.
I%milual 56, 1914
Ohio. & N. W.—Consol. 7b, 1915 14458b. 14458b. 113% Jan.
ISOifib. 130%
Gold, 78, 1908..-.
1291a Jan.
122 a. 12114b. 119 Jan.
81hklngtund68, 1929
Ill a. 110
Sinking fund 58, 19«9
1081a Jan.
Sinking (and debent. 5s, 1933 lloiflb. 11014b. 1C9 Jan.
loeiab. Itieia
S5-yeardebeut.5s, 1909
105 Jan.
100 isb. 100 b. 93 Jan.
Extension 4b, 1926
Ohl. K. I. & Pac— 68, coup. 1917. 13214 b. 132%b. 1311a Feb.
10558
05=8
10458 Jan.
Bxten. (fe col. 58, 1934
12114b. 1191a Jan.
Oh. Bt.P.,M.<fc O.—Consol. 68. '30 121!>8
Oh.St.L.A Pitts.- lst,oon.5s,'32 99iab 98 lab. 961a Jan.
Cleve. & Canton- 1st, 5s, 1917. 95%0. 96
921a Jan.
C. O. & Ind.— Consol. 78,1914
130 Jan.
Gen. 6s, 1934
116 b. 114iab. 112 Jan.
Col. Coal & Iron— 1st, 68, 1900.. 102%
103
100 Jan.
Ool. H. Val. & Tol.— Con. 58, '31 87%
87%
801a Jan.
Gen. gold, 68, 1904
86 b. fe5%b. 82 Jan.
22%
82%
Atl.
a
Denver di KloUr.— lst,78, 1900 121 b. 120%b. 119 Jan
lBtcon.48, 1936
781a
75 Jan.
93 lib, 9114
841a Jan.
Oen.A K.Gr. W.-lBt,6B,1911
8II2
73%
Jan.
Jan.
Jan.
103
103''ea.
Se's Jan.
lOSiga. 102
105
Jan.
103 b, 99 Jan.
IO514
141 b. 141 b. 1371a Jan.
112 b. 112 b. 110% Jan.
831a
Pk.A PacV— l8t,'7e',''05 83 a. 801a b.
Det.Mac.&M.— Ld.gr.3»«8,19H 37 %b. 381a
Den. Bo.
DnL &
Iron Range- lst,58,1937
B.Ten. V.& G.— Con., 58, 1956.
Lex. & B. Sandr- 68, 1902.
eilz.
trie- l8t. oonsol. gold, 78, 1920
Long Dock, 7b, 1893
Oon. 66,1935
.I.L.E.AW— 2dcon. 6s, 1969
Ft. W. & Deuv. C. -l8t, 66, 1921
6al.H.<S!San.A.nt.-W.Dlvlst,56
Br'nB.W.&Bt.P.- 2dlno.8e,l911
Gull Col.&San.Fe— l8t,78, 1909
Gold, 6s. 1923
Han. <k St. Jos.- Cons. 68, 1911.
HenaerBonBr.Co.— l8t.6s. 1931
Int. &. Gt.Nor.— Ist, 68,gold,'19
Oonpon, 68, 1909
Kent. Centr.— Gold 48, 1987....
Knoxv. &0.— 1st, 68, gold, 1925
Erie & W.— 1st g., 58, 1937 ..
I*ke8h.—Con.coup.,l8t,78,1900
Oon. coup., 2d, fa, 1903
Long Island— Ist, 78, 1898
iBt, consol., 5s, 1931
Gen. mort., 48, 1938
Lou. iK Nasli.— Uoneol., 7s, 1898
E. H. & N.-lst, 68, 1919
General, 68, 1930
U
Trust Bonds, 68, 1922-
....
10-40,68, 1924
SO-year 58, 1937
Lon. S. A. A Ch.-lst, 68, 1910,
Oonsol., gold, 6s, 1016..
Hem. & CU'lstou- 68,gold, 1924
Metro. Elevated.— Ist, 6s, 1908
2d, 6s, 1899
Mloh. Central— 1st, con., 7b, '02
Consol. 5e, 1902
Lak 1 8h. & W.-1 Bt, 6s,l'92i
Mil.
Oonv. deb.,
58,
1907
MUw. & Nor.-M. L., 6s. 1910.'.'
Extension, Ist, 68, 1913
Mum. & St. L.— Ist, 78, 1927....
Mo. K.&Tex.— Con.,
Consol., 58, 1920
6s, 1920...
Oonsol., 7b, 1904-5-6.. !i;i"""'
"sdlTsflOoi'^'-
"""'*••
««'^»2^
'38
Hoblle A Ohio— New, 6b, 1927
General mort. 48, 1938
'
['.
102%
96% Feb.
1061a JanFeb.
125 Jan.
110 Jan.
119 Jan.
110=8 Feb.
115 Jan.
10514 Feb.
1071a Feb.
86% Feb.
871a Feb.
35 Feb.
118 Feb.
110 Jan.
IOOI4 Feb.
132 Feb.
106 Jan.
94ifi Jan.
95 Feb.
II914 Jan.
12218 Feb.
1041a Feb.
105 Feb.
124% Jan.
II514 Feb.
113 Feb.
106 Feb.
102 Feb.
1021a Feb.
147 Jan.
132 Jan.
122 Feb.
122
100
86I4 Feb.
Jan.
Feb.
Jan.
87% Feb.
87 Feb.
I2114 Jan.
7914 Feb.
951a Feb.
88 Feb.
831s Feb.
40 Feb.
104 Feb.
105 14 Feb.
106 Feb.
141%
Fei>.
112
123
Jan.
Feb.
103% Feb.
96 Feb.
951a Feb.
25 Feb.
116 Feb.
871a Jan.
123 Feb.
2218
18 Jan.
115 b. 1061a Jan
Sliab. 7014 Jan.
122 b, 12014 Jan.
110%b.
107 a. IO214 Feb.
67
651a
64 Feb.
70%
80
711a Jan
IO514
10513
101 Jan.
111914b 109 14
107 Jan.
128 b. 128
12514 Jan.
126i4b. 127 b, 124 Jan,
126 a
116 b. 110 b. I1414 Jan.
100
98
9213 Jan.
1091a jKn.
7414 Jan.
SO Feb.
105 13 Feb.
110 Feb.
129 Feb.
1271a Feb,
15
Lmeesl.
lOlisb. 99
Jan.
b. 131
b. 129
Jan.
10214b. 10114b. 98% Jan.
N.Y. Central—Extend., 5b, 1893 106 b. lOeisb. IO4I4 Jan.
N.Y.C.&H.-lst, op., 78, 1903 135%b. 135% 133 Jan.
113 b. 112iab. 111 Jan.
Debenture, Ss, 1904
Mutual Un. Tele.—S.
f.,
1911
1913 131
68,
& St. L.— Ist, 7e,
Nash. Ch.
Consol. 5b, 1938
N.Y.*Har.— Ist, 76,1900
N.Y.Chlc.&St.L.— 1st, 4s, 1937.
N.Y. Elevated— Ist, 78, 1906....
N. Y. Lack. & W.— 1st, 6s, 1921.
Oonstruotlon, 58, 1923
N. Y. & Nor.— 1st, 58, 1927
N. Y. Ont. & W.— iBt. 68. 1914..
N.Y.8U8.&W.— l8tref.,5s, 1937.
Midland of N. J.— Ist, 6s. 1910
Norfolk & West. - Gen., 6b, 1931
North. Pacirtc—l8t,coup.,6s, '21
941a
117
134
Ill
b.
b.
b.
lab.
133 b. 130 Jan.
95
91=8 Jan.
118%a. 116 Jan.
133%b. ISlia Jan.
lllMFeb.
117i«b.
116%
115
1021a
114
11513 Jan.
112 Jim.
97% Jan.
106% 107
103% Jan.
Qis
71
641a Jan.
llSiab. 116
115 Jan.
119 b. 119 b 119 Jan.
106
103 Jan.
48
50 a. 44% Jan.
2d,lnc.,6B,1921
Omaha & St. L.— Ist, 48, 1937.. 74 b. 73 b- 711s Jan.
Oregon Impr. Co.— let, 68, 1910 105% 106 14 10414 Jan.
HI b. 110 Jan.
Ore. R.&Nav.Co.— l8t, 6b, 1909 II014
104% 105
102 Jan.
Oonsol., 58, 1925
Oregon & Transoon.— 6b. 1922.. 10513 105% 101 la Jan.
108 b. 108 b. lOe'sJan.
Penn. Co. -4158, coup., 1921
Peo.Dec.A Evan8.»-l8t, 68,'20. 108 lab. 107 b. 1041a Feb.
Evansv.Dlv Ist, 66, 1920... 109 laa. 107 b. 102% Jan.
75 b. 75I3
66 Jan.
2d mort., 58, 1927
93
8S58Jan.
Phil. & Read.— Gen. 48, 1958... 92%
84 b. 8518
Ist iiref. income 08, 1958
84% Feb.
71iab. 73
2d prol. income 58, 1958
72 Feb.
58 14
68 b 58 Feb.
3d pref. income 58, 1958
76I4 Jan.
81''8b.
Plttsb. & West.— l6t,g.. 4s, 1917 811a
631a
58 Jan.
RIoh&AU.— Ist, 7s, Drexol cert. 6314
26 Jan.
2dmort..6s, 1916,Drexelcert. 29>4b. 30is
114 Jan.
Elohm. & Dan.—Cone., 6s, 1915 115i«b.
87 b. 87'8" 86 Jan.
Consol. gold 5s, 1936
97%
96 Feb.
Rloh.A W.Pt-Ter.— Trust 68..'97 981a
Rooh. & Pitts.— Cons., 6s, 1922. 115 b. ll5iab. 113 Jan.
b.
108
107
Ogd.—
Ist,
1891.
RomeW. A
78,
13 Jan.
IIOI4 IO8I4 Jan.
110
Consol. extend. ,5e, 1922
106
107 b. 104 Jan.
St. Jo. AGd.M.- Ist, 6«, 1925
110 b. 11212 Jan.
St.L. Alt.AT.H.— 1st, 78, 1894.
107 b 103 b, 105% Feb.
2d, M., pref., 78, 1894
107 b. 10413 Jan.
2d.,M.,lno., 78, 1894
97^8
92 Jan.
St. L. Ark. & Tex.— 1st, 68, 1936 97'8
36 b, 3614b. 35 Jan.
2d,6e, 1936
107
I06%b
a
Air.
1892...
Mt.— 1st, 78,
106% Feb.
8t. L.
107 b 105 Jan.
1071s
2d mort., 78, 1897
Cairo & Fulton— Ist, 78, 1891 103 b. 102%
102 Jan.
Cairo Ark.A rex.-l8t,78.1897 105isb 106
104 Feb.
90
Gen. Ry. A land gr., 5s, 1931. 90 a
81
Jan.
Jan.
St. L. A Ban Fr.- 6s., CI. A,1906 117 b. 117 b 116
117 b 117 b 115% Jan.
68, Class B, 1906
118
117 b I1513 Jan.
6s, Class G, 1908
116%b. 116 b II518 Jan.
Gen'lmort.,6s, 1931....,
103 lab 103 b 101 14 Jan.
Gen'l mort., 58, 1931
8t.P.M.AM.— Dak. Ext.,68, 1910 119iab 119%b. 118 Jan.
116 b. 1151a Jan.
l8toons.,68, 1933
reduced to 4138.. 100 %b. lOU^b 981* Jan.
Do
96I4 Feb.
9g
97
CoUat. tr., 58,1898
Montana Ext. 1st, 4s, 1937... 89%a. 891a
8314 Jan.
9213
SUen.Val.- Ist, 7b, 1909, Tr. roc.
90 Jan.
"3'2iib.
31 lab. 31 Jan.
Gen'l 6s, 1921, Tr. reo
94 b 95 a. 90 Jan.
So. Carolina- Ist, 68, 1620
59
53 b. 47 Jan.
2d, 68, 1931
5 b.
7 b.
Inc., 68. 1931
518 Jan.
««oe.„....
80. Pac, Arlz.-l8t, 69, 1909-10 107 b 107 b. 105 13 Jan.
Jan.
So. Pac.Cal.- lst,6s, 1905-12.. 114%b 114%'j 114
So. Pac, N. M.— Ist, 6a, 1911. .. 106 b. 106 b. 105 13 .Tan.
Tenn.C.I.A Ry.— Ten. D., l8t,6s. 9U'8
95
Jan.
f-9
97 a. 9513
Birm. Div., Ist, 6s. 1917
89 Jan.
89'?8
Tex. A Pac.— 1st, gold, 5s.. 2000 89%
8858 Jan.
37
2d, gold, inc., 5s, 2000
38
36 Jan.
Tol. A.A. A N. M.— Ist, 68, 1 924. 107 b. 107
99 Jan.
ToLA.A. & Gr.Tr.— Ist, 68, 1921 106 ». 107
103 Jan.
Tol. A Ohio Cent.- Ist, 58, 1935 102 b. 102 %b. 101
Jan.
l8t,68, 1916 1)9%
Toi.8t.L.& Kan.
99
9213 Jan.
anion PaciJlo-lst, 68, 1899.... 11614b. 11614b. 115 Jan.
Land grant, 78,1887-9
102%b. 102% Feb.
Sinkiugfund, 88,1893
120 b 120
119 Jan.
Kan. Pacittc— l8t,68, 1895
109 b 109
lllia.ian.
l8t,6s, 1896
110 b no
109 13 Jan.
Denver Div.— 6b, 1899
115
114
114 Jan.
Ist consol, 6s, 1919
II414
115
112 Jan.
Oregon 8U. Line -Ist, 68, '22. 11113b 111
HI la Feb.
Virginia Mid.— Gen. m., 5a, 1936 8714
84
78% Jan.
Wab.St.L.AP.-Gen., 68,Tr.rec.
42
3713 Jan.
Chicago Div.— 58,1910.Tr.rec '93%"' 93%
Jan.
87l4^. H6
Wabash— M. ,78, 1909, Tr. reo. 87
Jan.
Tol.AW.— lst,ext.,7s,Tr.rec. 94
giiab 89k Jan.
l8t,8t.L.Div.,7s,1889,Tr.ree 94
94
931a Feb.
2d, extend., 78, 1893, Tr.ree. 89
87
87 Jan.
Con., conv., 78, 1907,Tr.rec. 86 laa. 86
86 Jan.
Gt.West.- l8t,7«,1888,Tr.rec.
93
89 Jan.
2d, 7s, 1893, Tr. reo
gi"'" 87
87 Feb,
106 13 106
West Shore— Guar.. 48
102% Jan.
West. N. Y. A Pa.— let, 5s, 1937 98iab. 9913
95 14 Jan.
2d mort.. 3g., 5sc., 1927
41iab, 43
39% Jan.
West. Un. rel.— Col. tr., 5s, 1938 101%
10214b. 98"e Jan.
Wheel. A Lake E.— Ist 5s, 1926 104 b.ll04 b. IO213 Jan.
Gen'l, 2d, coup., 1933
Gen'l 3d, coup. 68. 1937
N. Pac.Ter.Co.— l8t, 68, 1933.
Ohio Ind. & West.— 1st, 58, 1938
Ohio & Mi88.—Consol., 7s, 1898.
2d, oonsol., 78, 1911
OUioBoutliem— l8t,6B, 1921. ..
IO2I3
.
—
,
.
,
,
115ifl Feb.
100
Feb.
1201a Feb,
117 Feb.
113 Feb.
118% Jan.
117isa 116 b. 116 Jan.
112''8b. I12%b. 112
Jan.
11214b. 112 b. 10918 Jan.
lOlia Jan.
101
10038b. 98
Jan.
116
115
II214 Jan.
100
99
93 Jan.
103% lOaiab 102i2Jan.
116
117 a Ill's Jan.
logiaa. 109iaa. 106
Jan.
13312a. 131 lab. 131 14 Jan.
112 b, 112 a, Ill Jan.
121J4
120
118% Jan.
98
98
921a Jan.
108 lab 106i« Jan.
1081a
IO713
lOOiab. IO514 Jan.
82 b.
90 Jan.
56
56
5413 Jan.
53 b. 52 b. 5114 Jan.
90=8
90i8b. 90
Jan.
114
1131a llOia Jan.
18 b, 120 a. lieia Jan.
98 lab 98i4b. 97% Jan.
104 Jan.
1041a
112 b. 112
112% Feb.
49%
45 b 41% Jan.
112l4F6b.
lOlia Jan.
101 14 Feb.
lie Feb.
101 Is Feb.
103% Feb.
117% Fob.
110 Fob.
133 Jan.
112 Feb.
I2114 Feb.
981a Feb.
1091s Jan.
107% Feb.
92 Feb.
62 Jan.
5714 Jan.
92 ij Jan.
114 Feb.
119% Feb.
101 Jan.
105 Jan.
113% Feb.
507e Feb.
1
I
I
all
1
C—
I
1
1
1
1
8^
1
)
1
I
1.
Highest.
102%
131
102
107
13513
112'8
13113
9518
1181s
134
lis
ig
108 14b. 108 Jan. 10313
11213b. 115
112 Jan. 115
9758b. 97%
94 Jan.
97^8
117 b. 11512b. llliaJan. 1161a
118%b. 118%b. 117i4Jan. 119
108
.
«or»-Xhe letter" b" Indicates prloe itd.and "»" prloe
asked;
^
Fe'i.
133
115
105
21
115 b.
81
123 b.
Ill b,
102 14
12013b. 120iab.
Feb
111
IIOI3 Jan.
106% Feb.
104 14 Feb.
133 Jan.
loeig Feb.
122 Feb.
90 Jan.
94 14 Jan.
b.
Feb.
Feb.
108 "a Feb.
121i«Jan.
93 Jan.
1021a
9458
911a
95
81
34
Fe1>.21. Feb.
Highest.
Lowest,
1889.
1,
Sange since Jan.
Oloting.
1.
Sailroad Bondt.
SaUrotul Sonde.
XLVin.
STOCK EXCHANeE, AND KAN&E SINCE JAN.
N. Y.
Jtange iince Jan.
[Vol.
1171a
115%
1021s
107%
73
116
120
107
491a
75
lOe's
II214
Feb.
Feb.
Feb.
Feb.
Jan.
Fob.
Jan.
Feb.
Feb.
Feb.
Jan.
Jan.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Jan.
Feb.
Jan.
Feb.
Jan.
Feb.
Feb.
Feb.
Feb.
Jan.
105
106
Feb
Feb.
108''8 Feb.
lOtiaFeb.
10913 Feb.
76 Feb.
94 Jan.
911a Jan.
82% Jan.
6214 Jan.
82 14 Feb.
64% Feb.
31i4Feb.
11513
88
9913
116
Jan.
Feb.
Feb.
Feb.
IO8I4 Jan.
llOisFeb.
10713 Feb.
Jan.
Jan.
10413 Jan.
ngis Feb.
38 Feb.
110 Jan.
10712 Feb.
103 Jan.
114
110
106
90
116
118
118
117
10313
119
118
IOOI3
9312
90
921a
Feb.
Feb.
Jan.
Feb.
Feb.
Feb.
Feb.
Jan.
Feb.
Feb.
Jan.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
34
96
60
10
107
114i3Fcb.
IO8I4 Feb.
97 Feb.
96% Feb.
91% Jan.
39 13 Jan.
10713 Feb.
107 Feb.
Feb.
103
100 Feb.
11614 Feb.
102% Feb.
120 12 Jan.
IIII2 Jan.
110%
.Ian.
115i4Feb.
116<3 Jan.
II413 Jan.
8712 Feb.
42 Feb.
94 Feb.
87 Jan.
95 Feb.
94 14 Feb.
9013 Feb.
Feb.
89
91 Jan.
94 Feb.
106% Feb.
100 Feb.
44 Feb.
103 Feb.
10414 Feb.
other prioea and the range are from actual sales.
STATE BONDS.
BECUKirrES.
I
AWwuna OlaasA
OtoSB B, 5s
Class C,4b
8 to 5
«*. 10-20
::.::::t9oo
Arkansas—6e, funded.. 1899-1900
78, Little Rock A Fort Smith, iss
'
A
7b, Meniplile
Little
7b, Arkansas Central
B««5«»-7s, gold
Lenulana— 7b, oons....
Stamped, 4a
Mlehlgan—7s
Bid.
1906 104%
1906 111
1906 100%
Rock,
BE
isB
102i«
12
10
10
6
.Vi890 10413
19
108
86I4
,
.".'.'iabo
105 ifl
Ask.
SECURITIES.
Bid.
MlBSOutI— 68
lom
due 1889 or 1890
Asylum or University, due 1892
Funding
1894^1895
New York—6s, loan
1892
68, loan
1893
North Carolina—6b, old
JAJ
Funding act
1900
New
bonds, J.
Chatham
Rr
A J. ...1892-1898
Special tax. Class ill
Consolidated 4s
6«
Ask.
lOOij
102
105
llOia
30
10
20
3
6
1910
1919
94
Bid.
South Carolina— 68, non-fund. 1888
Brown consolidated 68
1893 104 14
Tennessee— 68, old
1892-1898
64
Compromise, 3-4-5-68
1912 74
New 8ettlement^-68
1913 103
5b
1913
3b
1913
721a
llOH
'.'.'.'."..
SECURITIES.
Ask
Rhode Island- 6s, oon. .1893-1894 llOJa
Virginia— 68, old
125
68, consolidated bonds
6s, consolidated, 2d series
6s, deferred, tni»t reo...
414
ro5ia
104
101 \
720«
48
70
50
10
—
FlBRUART
THE CHRONlCUi
88, 1889.]
245
BONDS-STOCK EXCHANGE QUOTATIONS ON THUBSOAT OF THE LESS ACTIVE RAILROAD BONDS.
BECURrn£8.
99
98
118
58
Bnn.Koili.Al'1tt».-Oen.,5«...1937
1921
Rocli. A Pltt8.-lst68
Bnrl. Ce. Rap. A No.— Iak58.1906
1934
Oonsol. Jk col. tr, Ss
»Ilnn. A 8t. L.-l8t 78,_KU ..1927
Iowa C. & West.-lst 7e....l909
C«d. Rap. L F. & N., let 69.1920
'W
iia
97 H
106
1921
Central Ohio Reor.— l8t,4i28, 1930 104 ifl
Cent. KR. & Bank.— Col. (?..5s.l937 101
Cent, of N. J.-Conv. del). 6e.l908
Central Pacitlc— Gold bds., 681895
Gold bonds, 6s
1896 •113
Gold bonds, Bs
1897 11339
San Joa(iuin Br. 68
1900 114>i
Cal. & OrcKOU—Ser.B., 6a. 1892 100
West. Paciflo— Bonds. 6s. ...1899 11214
No. Rallwav (("»!.)— 1st, 6a. 1907
Ches. & O.— Pur.
fund. 68.1898 i'la
68, (told, scr. A
1908
iBtoon.-o!. 5e. g
1939 94 '4
Ohes, O. & 80. West.— 2d 68. ..1911
Ohlcaifo A Alton— Ist, 78
1893 111
Blnkinjf fund, 69
1903 124
Louis. & Mo. Uivei^lat78..1900 1211s
2d 78
1900 *120
8t L. Jacka.A Chic.— Ist, 78. 1894 115
lat, Kuar. (564), 7s
1894 *115
Zdmortff. (360), 78
1898 II714
2d, guar. (1S8), 78
1898
Miss. R. Bridee— l8t, 8.f. 68.1912 loa
Chic. Burl. & No.— Deb. 6a. ...1896
l«t
98
85
.Sh
M
CWcBurUnR. A Q.— Ss,
f...l901
8.
Iowa Div.— Sink, fund,
58. .1919
Bin king fund, 48
Plain, 4s
1919
1921
Chlc.Mll.A St.P.— Isi, 88, P.b!l898
ad, 7 3-108, P.
1898
1ft, 78, $ g., R. D
1902
let. La Crosse l>ivlalon,78..1893
Ist, I. AM. 78
1897
Ist, 1. A D., 78
1899
l8t, C. A M., 7s
1903
Ist. 7s, t. A D. Ext
1908
D
l8t Southwest Dlv., 6s, ... 1909
l8t. La U. A Dav., 5s
1919
l8t, H. A D., 78
.1910
let, H. A D., 5s
1910
Chicago A Paciflo DIt., 68.. 1910
Chic. & Mo. Rlv. Div., 58 ...1926
Mineral Point Div., 5s
1910
C. A L. Sup. Div., 5a
1921
Far^ A South., 6s, Assu ...1924
Inc. oouv. aink. fund 58
ot. South., 58
1916
1916
A
Oaloago A Northweatem—
Dakota
A Slilwaukee- 1st, 78.1898
A St. P.-2d, 7s
1907
MIL A Mad.— Ist, 6s
1906
Ott. C. F. A St. P.-lst, 58.. 1909
Ohio.
Win.
Chic. 8. P.
A
Minu.-lst, 68.1918
1930
A
W. lud.— lat, s.f., 68..1919
General mortgage, ts
1932
an. Ham. A D.-Con. s. f., 78. 1905
2d, gold, 4ia8
1937
Ohio.
A Chic.-l8t,g.,48.1936
Oln. l.st.l.
Consul. 68
1921)
* *I"«-l»tVg.;58'.V.1936
^^r^^T'h
CL Col. Cin. A lud.— l»t, 7». 8.f.'99
Consol. sink. fd.. 78
1914
Oleve. A Mah. V.-Gold, 58.!;i933
Ixeurd Alene. lat. Us, gpld...l916
Co orado Mldl'd— l8t,gold,6i,1936
Col AGreen.-lst,68
19I6
2d, 68
Col. A Cin.
Dri. Lack.
Ijj.^u
Midland— i8tr68r.'l9U
A We»t.-Oonv.
78.1892
Mortgage, 78
1907
'*' ^'^ Y--l8t. 7s. 1906
Hifi;
^iff.Morris 4 ts8ex-l8t,78
1914
102
88
9J
92
W.—Mortg. 6a
Long Island—
N. V. A R'way B.— I8t,g.,5e.l92
2d mortg., inc
1927
N. Y. A M. Beach— lat, 78.. 1897
N. Y. B. A M. B.— l8t,g.,58.1935
Brooklyn A Mont.— lat, 6b.. 19 11
lat,
1911
58
Louisville & NaaUviiie—
Cecillan Branch— 78
12158 12212
N. O.
1st, fa
134 IbOisi
do
2d, 6a
Pensacola Div.— 6s
1091s
1091s
St.
llOis
961s
107
1907
1,430
1930
1920
Louis Div.— Ist, 68
98
821s
•1071* 107»9
)124is
i23'
104
118
A Decatur— lat, 78.. 1900
A N. Ala.—8. t., 68
1910
Pens. A At.— lat, 68, gold.. 1921
Collateral trust, Ss
1931
Lou. N. O. A Te.t.— l8t,48
1934
Naahv.
77
92
99
113
113
110
95
131
'V1871
'*
1915 144 145
1 •u"*";-',*^"*'''*
n>i A
UdL
Hud. Canal—ist, 78.. .1891 10638 1061s N.Y.Susq.A West.- Deb. Ba...l8»7
1»»1 111
2d, 419S
1937
Ooupon,
1894 1173*1118
1917 147ial
N.Y.Tex.
AMex.— l8t,
112i«
80
11514
'
100
80
80
35
42
I
Kg
price Thursday
;
these are latest qaotatious
made this week.
Pitts.
Pitta.
Pltt't.
4s ...1912
Junction- 1st,
McK. A Y.— 1st, 68
Painav. A F.— 1st, 5s. ..1916
^^
•
991*
-—
1916
A Dan v.—Debenture 68.1927
Atl. A Char.— 1st, pr., 7s.. ..1897
115
10038
124
96
Debenture, ex coupon
1900 102 !»
1923
Incomes
8t. Jos.
AGr. Is.- 2dlno
A Omaha— 1st, 5a, 1927
A T. H.-Div. b-nd8.1894
BeUev. A 80. 111.— 1st, Ss. ..1896 •H6ia
1923 109
Bellev. A Car.— 1st, 68
Kan.
C.
St. L. Al.
nt.
LouisAChic— lat,con.6a.l927
8t
L.AI.M.-Arb.
34
105
Br., Ist,7s.l893
APac.E.Div.- 1st,
A. A. A Cad.—68
A
87i«
43 1«
....«
—
99 >•
*
81
111
•105%
i'os
113
*120
115
..^•.
1131s 114
88 1*
89
89
70
75
45
45
•103
A W.—
S
49
105
Pac—
a
....-
68 ..1905 •109
A W.—
1909
1909
53.1918
Ut. So.—Gen., 78
Exten., lat, 78
U. P. Lin. A Col.— Ist, g.
Utah A North'n.— G., 58....1926
VaUey Ky Co. of O.— Con. 68.1921
Wab. St. L. A Pac.— Gen.M.,68.1920
1910
Chicago Div..5.s
1921
Detroit Div.—6s
loe
75%,
101%
lOJ'a
98I4
loa
991a
lbs"
llSis 117
Truar, receipts
1909
Wabash, M., 78, 1879
Toledo A Wab.— Ist ext., 78.1890 114
1889 IISS
St. Louis Div., 78
1893
2d M. ext., 78
ls»3
Equip, bonds
1907
Consol. conv.,78
1888 113
Great West.— 1st, 78
1893
20,78
Uidn. A Tol.— Ist, 78, Trust rec
92
25
Han. A Naples— 1st, 78, Tr. rec
92
92
lU. A80. Pa— lat,ex.68,Tr. reo.
8t.L.K.C.&N.-K.E.A RR.7a.'95 113
SLCharles Br'ge— l8t,68.1908 106
1895 113%
No. Missouri— lat, 78
1896
Warren A Frank.— Ist7a
West. Va. C.
A Pitt8.-l8t, 6a.. 1911
Ifliitccllaneons
Bonds.
l»b7 106%
Caliaba Coal Mln.— Ist
g. 7s.. 1907
1st, g. 5a.. 1937
Chio. Gas Lt.
t7i« Col. A Hook. Coal A I.—68, g.. 1917
1905
Eiiultable G. A F.— lat 68
80
99
Tol.
1917
Mt, PI.— 68
1919
Tol. A. A.
1917
Xol. Peoria
lat 4s
751s
1896 I1314
Union
l8t, 68
113iS8
6s
1897
1st,
1898 115
Ist, 6s
1908 119%
Col. Trust, 6a
1907 105>4
Col. Trust, 58
1895 108%
Br. U. Pj— F. c.,78
Pao.— 1st, 6s. 1905 *101
Atoh. Col.
Atoh. J. Co.
Ist, 68.1905
Am. Water W. Co.— 1st Os
112
!l
Rich.
—
1021a
'*"•"
....»
105'
60
122
>••«
:;::::
•.-«
12iii
105
114
ICO
103
117%
1922 i09"
1932 •113 -••>«
6.^
8t.L.A8.Fran.— lst,68,P.C.A01919
Equipment, 7a
1895
Ist, truat, gold, 58
1987
8.—
Kan.
City
g.l916
50
A
1st, 68,
83
Ft. 8. A V. B. Bg.— Ist, 68.1910
831s
St. L. K.ASo.Wn.— Ist, 6e.l916
Kansas Mid'd,— 1st, g. 48.1937
112 113% St. Paul A Duluth— 1st, 58....1931
'124
2d mortg. 58
1917
123
103 1041s St.f.Mlnn.AM.— 1st, 78
1909
'132
1909
135
2draott.,68
124
1922
Min's Un.— Ist, 68
128
Mont. Ccn.— 1st, guar., 68. .1937
129
East. Minn., 1st div. Ist 5s 1908
1261s
109 110
San Ant.A Aran8.-l8t,68,'8o-1916
1926
100
1st, 68, 1886
1910
Scioto Val.— l8t, cons., 78
103
Coupons oa
Sodua Bay A So.— lat. Un, g...l921
40
Tex. Central— lat, a. t., 7a ....1909
112
100 10238
1911
l8t mortg. 78
1905
let, 78
Tex. A N. O
1912
Sabine Diviaion, lat, 68
'
\'^^^^^-<^"ir;7n
Northern Pac. — Divld. scrip ext. .. 100 101
Albany A 8ue<;.— l8t,gu.,78.19u6 135
James River Val. — Ist, Os. .1936 1051s 107
1st, cons., guar., 68
iyo6 125i«
Spokane A Pal.— Ist, Os
1936 104 isl
Kens. A Bar.- 1st, coaD.,7s.l921 14l«is'lS0
St. Paul A N. P.— Oen.,68..1923 1181a 120
Penv. A R. P.- Imp, g. 58....1U28
Helena A Red .M'n— lBt,K.,6a.l937
81»B
*
A R.—3d pr. Inc. oonv.,1959
Pine Creek Railway—6s of 1932
Pitta. Cleve. A T(d.— Ist. 68... 1922
lie's
'
••>>•«
2d, 7s
1912
1912 •iio" \ti
3d, 78
Clev. A P.—Cons., a. fd., 78.1900 •128
189'- 105 19
4th,alnk. fd., 68
Bt. L. V. AT.H.— Ist,g.,7e.l897 115
2d, 78
1898 ...... ...••
2d, guar., 78
1898 110
>••
Peoria A Pok U'n— l8t,6B
1921 *. ..•• 114
1921
69
2dM., 41S8
2diae(mio 68
1201* 123
1201$ 123
•mis
1034
1181*
•141
1927
Y. ,ij Ash.— 1st 58
Presc't AAriz.Cent. lat 68, g.. 1916 «'"""
m
19011 129
A C—
1M>4
Pitts.
85
99
90is| 96%
56
8738
83
107
2d mort., Ss
1934 40
122
Manitoba S. W. Col.—G. 68. ..1931
95 "s Mexican National — lat, g., 68. 1927 102
2d, income, (!«, "A"
63 ij 6619
1917
2d, Income, Oh, " H"
18
1917
20
127
Michigan Cent.— 68
1909
Coupon, 58
1931
I2514 126
Jack. Lan. A Sag.—68
1891
114
Milw.U8.AW.-Mich.D.,l8t,68.'24
115
119
AahlandDlv.— Ist, 68
1925 115"
1191s
127
Incomes
98
98
Minn.ASLL.- I'a Ex.— l8t,78 1909 81
9912
59''8
2d mortg., 78
1891
Southwest Ext.— 1st, 78
1910
93I3 9711
PacltloExt.— Isl, 68
1921
122 1J4
Impr. A equipment 6s
65
1922
•IVi^is
Minn. A Pac— lat mortg. 5a.. 1936
108
Minn. 8.8te.M.AAtl.— lst,58..1926
105
Missouri Pac— Trust, g..68. .1917
99
Mobile A Ohio— 1st Ext. 68. .11)2
103
Istpref. debenture
....
52
57
2d pi-ef. debentures
90
St. L. A Cairo- 4a, KUar... .1931
72
109
Morgan's La. A T.-lat, 68.... 1920 115 116
142'
.
•...••
lat 78
1.91H 125
136 138
Nash! Chat. A St. 1^—2d','68!!l90l 110
148
New Or. A Oulf-lst, 68
1926
N. O. A No. E.-I-r. 1., g., 68 ..1915
N.J. Juno.—Guar. 1st, 48
1986
N. Y. N. H. A H.— 1st, reg. 48.1903
N. Y. A Northern.- Zd, 4ii
1927
Ask.
Phlla.
119
1921
1980
2d, 38
1081s
1021s 104
S.
1900 *124
it^^W"
78,
1201s
Pitts. C.ASt.L.— lBt,op.,78.1900
Pitts. Ft. W.
IBI, 7b. .. 1912
rex.
AM.—
18911 106^8
^:J/-z
Bonds, 78
8.
C—
99
Northern lU.— ist, 5
1910 109
CWc- Peor. ASt. L.-Gd.g. 58.1928 96
owe. Rock l8l. APao.—
Dea Moines A Ft. D.— l8t,48. 1905
62
l?t. 2'ss
1905
Extension, 48
1905
Keok. A Des .M.— Ist, 5s ....1923
Ohic. A St. Ixmls- 1st, 68.... 1915
Ohio. St. f. A Kan. C- 58
1936
Winii. A N.W.-lstg. 58... .1934
Ohio. St. Paul M. A O.—
?P-,?''"""'*'i~l»t> 6s
A
Eureka Springs R'y. lat, 68, g.l933
Evan. A T. H.— 1st, cone., 68.1921 il'8i4
Mt. Vernon— 1st, 68
1923 109 115
Evans. A Indian.— Ist, oonB... 1926 110
1041s Fl't A P. Mar(i.-Mortg., 6b. ..1920
Oal. Har. A 8:111 Ant.- lBt,68,1910
2d raort. 7s
1905
110
Grand Rai>. A Ind.— Gen. 58..1924
Green B. W. A St. P.-lst, 68. 1911
Houaatonlo— Cona. gold 68. .1937
Hooe.ATex.C- Ist.iii. 1. 7e.Tr.reo
West Div. 7s. Truat i-ecelpt8.1891
1131s
1st Waco A Nor. 7a
1903
2dm.88M.l.. TniBtrecelpt8.1912
116
Gen. mort.Gs.Truat i'eoelpt8.1921
118
Illinois Central— 1st, g., 48. ..1951
941s
let, gold, 3isa
1951
Gold 4s
1952
112
Springf. Div.— Coup., 68.. ..1898
12.'iV.
Aliddle Div.— Reg., 58
1921
123
C. St. L. A N. O.— Ten. 1., 78. 1897
iBt, consol., 7s
1897
2d, 68
1907
Gold, 58, coupon
1951
Dub. A 8.
2d Div., 78... 1894
Ced. Falls A Minn.— Ist, 78.1907
Ind. Bloom. AW.— 1st pref.78.1900
Ohio Ind. & W.— Ist, pf., 58.1938
io9'
1. B. A W., 1ft, 5-6s, Trust rec
do
East. Div. Trust reo
97% 98^ Ohio Ind. A West., 2d, 58 ...1938
921s
I. B. & W., cou.iuc. Truat rec ..
124%
Ind. D. A Spr.- let, 7h, ex.op.l906
1191s Ind. Dec. A West.— M. 58
1947
1241s 1251s
2d M. Ino. 58
1948
110 112% Iowa Central -1st, gold, 58. ..1938
115
Kan. C. Wyan. A N.W.— l8t,58.1938
118
Lake Shore & Mich. 80.—
124 125
Cleve. P. A A.— 7s
1892
123
Buff. A Er.— New bonds, 78.1898
114
Kal. A W. Pigeon— lat, 78... 1890
1021a
Det. M. A T.— iKt. 78
1906
1201s
Lake Shore— Div. bonds, 78.1899
100 103
Consol., reg., 1st, 78
1900
119
Consol., reg., 2d, 78
1903
Mahon'g. Coal RB.— Ist, 58.1934
100
iLltchf. Car. A West., Ist 0b.g.l916
. .
,
Income, 6s
Buff.
1969
1977
1908
10:
A L. 8.— lat 6s. 1901 111
pes M. A Minn.— Ist, 78
1907 I26I4
Iowa Midland-lst, Ss
1900 1331s
Peninsula— Ist, conv.,78. ... 1898
fisoanaba
1897
2d, extended, 5s
1919
3d, extended, 4ia8
1923
4th, extended, 5s
1920
5th, extended, 48
1928
Ist, 00ns., fd. coup., 7g..... 1920
Reorg., Ist lien, 68
1908
B. N. Y. A E.— 1st, 78
1916
N. Y. L. E. A W.—Col. tr., 681922
Funded coup.,58
Bid.
1071*
A Improvcin't, g. 58.1938
A Blmi.— Ist, g„ 68.1937
i07% Erie— Ist, extended, 78
1988
S6^
1936
Beeoa Ciwk-ldt gold, 48
102 «
BoBt. H. Tun. A W.— Deb. 58... 1913
Brooklyn Kiev.- let, U., 6»...1924 i094i 110
88
2d. 3 Sk
1915
106%
Union Kl.. let, piar., 68....1937
BniiiswIckAWfst.— lBt,K.,4s.l938
Kolil,
Equip.
Mobile
BEOURITIE8.
Ask.
Northern Paclflc— (Cnntlnned) 891$
DuU A Manitoba— lBt,g. 6a. 1936 105 >i
Do Dakota Div.— Ist, Oa. 1937 loa^a
i2i' 1211s
La. M. A Mo. R.-lst,5s
1937
North. Pac. A Mon. -Ist, Ob. 1938 103 14
Norf. A W.— New RlV.— lst,6«.1932 II2>s
Imp. A Ext.. 68
1934 103
121
A(^ustment M., 7s
1924 108 >s
Equipment, 58
1909
92 Is
113 115
Clinch Val.D., lateqnlp. 6s. 19.^7
119
Ogd. A Lake Ch.— Ist.con. 6B.1920 •100
Is
100 101
Ohio A Miss.—Cons., 8. f., 7s.. 1898 115>»
1905 105%
Sp'gHeldDiv.— l8t,7B
1381s 142
83
110 112
General 5a
1932
1936 •100
142 145
Ohio River RE.-l8t, 5s
110
General raort., gold, Ss
1937 * 83
9413 Oregon A Cal.— lat, 5a
94
1927
73
Panama—Sink, fd., aub., 6a... 1910
84
Pennsylvania RR.—
A
A
192,^
58, KOlrl
OoDB. niort..
Bid.
Det. Bay C.
Alp.-Iit, 6... 1913
Oul. 80. 8h. A Atl.-58.,
1937
K. Tenn. Va.
Oa.— lat, 78... 1900
Divisional Hk
1930
latext., goH, Ss
1937
Railroad Bonds.
(Block Kxrhange Priea.)
Atoh. Ton. * S 111. Fe—4i«B...1920
1911
BInklUK fund, (ia
1 937
Collateral Tnixt, 6»
Chic. 8. PeACiil.-lBt g.. f>«. 1937
Bait. A C)i.lo-lst6s, Park B ..1919
BEOURITIEB.
Aik,
Bid.
AC—
11'2
893«
100''
Hackenaack Water— let, 58. 1926 100 "96"
1901
Iron Steamboat Co.— 68
Manbat. Beaoh Imp. Co.— 78.1909
Northwest Tclegrapli.- 78....1901|
98
People's Gas A Coke I lstg.68,1904
J2dg.B8,.1904, 98
Co., Chicago
West. Union Tel.—Conp. 7»).. .19001 118>s
. .
.
.
New tork
Cltr
Bank Statement for the week ending Feb,
We omit two ciphers (00) in all cases-
18, 1889, is as follows.
BAKES.
$
Uanhattan Co
2,0.50,0
Merchants'
Mechantca*
2,000.0
2,000.0
3,000,0
1,000,0
1,000,0
1,000,0
300,0
600,0
1,000,0
300,0
America
Phenli
Tradesmen's
Chemical
Merchants' Exch'nge
Gallatin National
Batchers' & Drovers'
Mechanics' <fc Traders
Breenwich
Leather Manafact'rs.
Seventh National
New
York...
—
American Exchange..
Commerce
Broadway
1,578,4
1,171,5
829,4
1,625,9
1,808,1
529,3
2,254,1
232,4
5,727,7
128,5
1,247,5
287,6
160,5
85,4
3,000,0
City
200,0
200,0
600,0
300,0
1,200,0
6,000,0
6,000,0
454,2
303,9
820,1
641,1
239,8
466,8
1.067,0
270,4
388,9
167.3
664,0
211,3
231,5
450,0
200,0
700,0
Peoples'
North America
Hanover
1,000,0
Irving
dtiaena'
irassan
&
Fulton
Bt. Nicholas
Shoe & Leiither
Corn Exchange
Continental
Oriental
Importers' & Traders
fark
North River
Saat River....
Voorth National
Central National
Second National
-Ninth National
nrst National
Third National
N. Y. Nat'l Exchange
Bowery
New York County...
German. American.
Chase NationaL
.
Fifth Avenne
German Exchange...
Germauia
United States
Iilncoln
Gurfield
Fifth National
Bank of the Metrop..
W^estSide
600,0
600,0
500,0
780,0
600,0
500,0
1,000,0
1,000,0
300,0
1,600,0
2,000,0
240,0
250,0
Western National...
Total
250,6
353,6
4,190,
1,807,6
107,8
121,1
1,375,8
676,1
213,4
269,5
5,843,4
247,2
123,6
361,6
114,4
207,5
603,8
673,2
369,0
354,2
480,4
176,3
122,1
773,1
301,7
22.5,0
,3,737,0
1,133,0
269,4
948.4
612.0
410,9
131,0
405,0
109,8
10,610.3
2,787,7
24,089.0
4,666,9
5,440.7
373.0
2.344,0
2,551,0
27.5,7
979,8
396,6
760,2
439,9
243,6
196,2
813,3
299.4
287,4
353.4
192.5
115,7
310,0
268,0
1,314,6
168,3
4,682,9
4,081,4
107,9
60.5,0
332.4
1,834.3
2,167.2
158,2
129,8
866,1
1,471.0
128.0
317,0
2,283,3
355.5
139,3
116.0
79,7
322,0
4,514,4
1,142,0
1,184,0
1,494,1
4,273,7
1,927,0
3,094,0
1,772.1
300.3
1,020,9
326,0
612,0
523,0
1,846,6
279,3
598,7
825,1
500,1
2,881,0
922,4
170,6
2,12.5,0
2.5.221,4
25,765,0
2,187.3
1,520,8
19,827,3
9.561,0
6,030,0
6.987,4
23,973.6
7,943,4
1,442,1
2,884.8
2,995,2
2.764.9
10,287,3
4,148,9
3,467,4
2,684.9
6,903,7
3,159.8
3,211,8
1,785,3
6,296,5
2,171,0
3,695,0
2,180,0
10,164,3
1.38.2
703,8
122.3
817,8
329,7
27,6
319,4
361,0
179,4
357,r
219.0
437,0
117,0
12.5,0
1,498,9
555,5
863,1
10,476,7
2,815,0
1,208,1
2,921.0
1,407,9
,2,959,2
}6,23o,0
14,791,3
6,958,4
9,367,3
3,087,2
13,163,4
6.845,0
2,717.1
,4,639,4
16.471,3
2,985,0
3.210.4
2,961,2
4,329.8
1,881,7
3,787.0
5,908,3
6,014,2
77,8
772,0
870,6
1,459.5
5,063,7
1,75R,2
2.0.'!1,1
19.5.1
306,8
3,543,0
2,894,8
1,225,3
1,528,4
351,4
2,860,4
1.327,1
21
799,3
4,021,9
627.7
482.4
220,4
990,0
285,4
5,211.0
21,673.8
7,100,3
1,421,8
2,319,3
2,296,7
2,868,9
7,811,5
4,136,4
2,786,1
2.500,6
6.309.0
2,876,7
2,617,3
239,"
428,0
211,2
134.6
61,7
82,4
3,600.0
573,0
110,0
4,08,3,0
2.38,6
200,0
500,0
200,0
791.2
2,986,0
6,517.4
4,964,0
2,167,0
23,747,6
21,490,8
2,087,4
1.273,8
18.613,7
8,013,0
12,750,0
10,942,0
8,871,9
8,508.0
11,709,1
1,160.0
593,0
646,3
909,0
799,2
1,122,5
2,0S7,'>
1,078,7
3,200,0
2,000,0
300,0
750,0
500,0
1,000,0
300,0
250,0
200,0
750,0
600.0
100,0
200,0
200,0
500,0
300,0
200,0
150,0
300,0
Seaboard
Sixth National
8,881,0
11,551.7
4,370,0
9,741,6
2,985.6
20.787.6
3,673,6
6,055,8
1,874,0
2,490,0
1,258,8
3,383.3
1,399,9
3,606,0
16.441,0
18,448,4
6,683.8
8,252,9
2.788,9
12.000,0
5,160,9
2.170,8
3,931,8
14,630,9
2,886.0
3,032.2
2,592,2
4,207,1
1,493,3
3,211,6
1,587,1
667,2
422,7
Chatham
8,27.3,3
80,6
1,600,0
2,280,0
2,505,0
1,372,5
2,083,0
2,776,3
716,0
2,873,1
416,1
8,263,3
12,560.0
10,106,0
511,8
1,000,0
1,000,0
Mercantile
PMlflc
Bepnblic
1,378,8
60,762,7 52,402.6 408.004,6 90,536,0 36,281.7 438.088,1
Capital
Banks.
CircTn CUarin^s.
416,837,8
421.324,8
431,142,1
434,958,5
438,088,4
4,824,3
1,731,0
4,709.7
4,380,3
4,356,0
724,07.3,9
6,720,8 128,093,8|!i,622,6
5.583,9 128,690,2 3,188,0
9,586,31 6,677,2 130,477.3 3,010,7
89,661,2
92,136,3
93,722,1
N. YorkT"
'
389,325.5
392,821,9
399,910,0
408.013.9
113,165,3 408,001,6
2 ..
9...
18
..
Phlla.'
Feb. 2....
"
9....
16....
85,668,7136,570,3
88,650,2!37,545.a
89.205,6;37,473,1
86.820.6138.072,0
90,636,0 38,281,7
65,043.5 160,708,3
65.013.5 152.0569
65.013.6 152,527,2
853,681,8
951,220,7
716,3.51.2
718,099,2
9.244,8
9,311,0
34,652,8
25,504,0
26,051,0
26,169,0
93.300,0
31,552.81 04,111,0
34,552,8 91,276,0
TFe omit twn ciphers in all thf»f. flgures.
clelphia, the Item " due to other banks."
*
92,528,0 2,316,3
93,680.0 2,317,4
91,176,0 2,317,8
t Including, for
72,281,1
66,977,2
61,168,3
Boston and Phlla
Quotations in Boston, Fliiladelpliia and Baltimore
Following are quotations of active stocks and bonds. A full
list is given in the Chronicle the third Saturday of each month.
SECURITIES.
BECTJKITIES.
Atch.
BOSTON.
KAILnOAD ."T0CKS.1
Atchison & Tojaka
B>ston<& Albany
Baston .ft Lowell
Boston A Maine
BoatonA Providenie
California Southern
Central of Massacbusettc
Preferred
Cheshire, pref..
<& North'n.
62 'e
53
Land grant, 78
19»4
131,
Oallforni.i
55
34
Preferred.
V
SO
132
112
,
,
]Ea«tern
Preferred
I'ltohburg, pref...,
i' int
Pere Maroaette
4)921,
lil
61
28
A
Preferred
961..
30
97 14
78
55
1238
Preferred
Maine Central
24 <s
Manchestor & Lawrence
Mexican Ceutrnl
H.Y. * N. Eng., pref
Northern
!{
116
& Worcester
5175
pKdensb. & Lake Cham.. i 5
.'.
Oul Colony
169
Portland Baco * I'orte... «125
Bnmmit Branch
{....
15 Hi
38
13
46
A
southern Kansas — 58,
Texas Division- 58.
170
Wiscon. Cent.— Ist M., 58 ?"S9'
Income 69
i aa
^PHII^AUELPHIA.
RAILROAD 8T0CXS.
88
79
t
Bell's Oilp
Camden A
67
5
RAILROAD BONDS,
?.
3-1 ««. '«8 1131.
23
Inc. 78. end., coup., '94.
108 1.J
Bells Gap— Ist M., 76
Cam. A Amb.— JI., 68, '89 102'6
Catawisaa— M. 7a, 1900, 119 i-i
1261,
CUartiers— l.st mort., 78Clearneld
Jell.— Ist, 69 ^il6118
Connecting— 63
AUegh. Val.— 7
BAI-TIIHORK.
RAILROAD STOCKS.)
A
Baltimore A Ohio
1st pref
2d pref
Central Ohio
Preferred
Del.ABd.B.— 1st, 78.1906 130V
EastonAAmboy.mort. 68. 1141^
120
106
105
112
Churl. Col. A-iuguHa...,
1013, 105
1193,
119
AtlanUA Char.— l9t, 78
Cone. 8b. C.A R.,1923..
North Penn.— l8t M.. 78.
13112
1191..,
General mort. 78, 1903.
N.Y. Phil. ANorf — l8t,6s
Income, 68
Penn.-aen..68,coup.l910
122 1»
103
101
10214
102
105
105^
Cliar. Col. A Aug.— l8t, 78 110
Cln. Wash. A Bait.— lata.
941a 951a
503.
130 ig
Am. Exch...
Central
Chase
Chatham
—
175
228
Leather Mfe'
Manhattan...
Market* Ful
191
1311a MechaniC9'..
M'chs'ATrs'.
210
i'ss
Commerce... 185
Continental
Com Exch...
Bast River.. 155
11th Ward... 150
Fifth Ave.... 1000
.
177
182
190
180
180
195
Mercantile.
Merchants'.. 117
120
Merch'ts Ex.
Metroplitan
ll'i 121a
.
2000
14th Street.. 155
114
Fourth
255
GaUatin
First
300
159
York... 235
Metropolis.
.
Pheiiix
.
Republic
Seaboard
Second
Seventh
••••>
......
^
1333, 134
158
128
325
....>*
-•*.*•
-"••
125
163
120
ShooALeath.
.St.
Nicholas
State of
...a
160
168
N.Y
1131a
103
Tradesmen's. iiif
UnitedSt'es 206
.
Nassau
New
500
Ninth
N. America.. 158
North River. 140
200
Oriental
170
Paciiic
2:0
Park
200
People's.
220
Hanover
Hud. River.. 142
Im.A Trad'9' 500
... 4200 Irving
ABk.
Bid.
N.Y.NatEx. 124
120
120
Greenwich... 130
500
City
Citizens'
BANKS.
N.Y. County. 300
300
Germania
138
255
260
118
120
Local Securities.
Bunk Stock L.Iat.
BANKS. Bid. Ask.
German Am.
1461a
. .
613i
27 "a
11
10 la
Wil. CoLAAng.,6B,1910.
Garfield
300
But«h8'A Dr. 180
Broadway
61
26lg
2d8, 68
3d9, 38
Ist Inc., 68, 1931..
Soab'dA llo'n'ko-59, 1926
West. Md., 3d guar., 69..
llUa
Ask.
Bid.
185
50"
Income, 68
A Ohio- 48, 1935..
Cape FearA ¥ad.-l9t,69
132% Cent. Ohio— 69, 1890
New York
BANKS.
,
Bait.
107
AHia, Tru8t Loan
Perklomen-2d se. 5,1918 103
Penn. AN. Y. Can.—78,' 98 iiev
+ Per share, i Last price this week.
America
,
RAILROAD BONDS.
122
Cons., 69, coup... 1906..
Cons., 68, coup. -.1919.
47 V
63
47
11
,
Western Maryland
UOV
130
120
43
1121.1
Elraira A Will'm.— Ist. 68
L.—48
Karris. P. M't J.
Hniil'nA B. T.— 1st, 78..
2d mortg., 78
Conaol. M., 68
Leh.V.— l8t,68,O.AR.,'8»
2d, 78, reg.,1910
A
90
87
120
«
Western
96
and Oltr Kallroad Stoeki and Bonds.
GAB COMPANIES.
Bid.
102
55
100
83
Consolidated Gas
Jersey City A Hobokon... 170
111
Metropolitan— Bonds.
98
MutnaKN. Y.)
100
Bonds, 68
110
Nassau (Brooklyn)
99
Scrip
[Caty ER. Quotations
\>7
GAS COMPANIES.
A8k.n
104
58
103
84
Brooklyn Gas LlKht...
Citizens' Gas-Light
Bonds, 5s
100
102
Ask
[Bid.
73
120
.Williamsburg
108
Bonds, 6s
iMetronolitan (Brooklyn).. 89
105
Municipal— Bonds, 78
...125
Fnltou Municipal
105
Bonds, 69
112
Equitable
112
Bonds, 6s
Peoiile's (Brooklyn)
75
122
111
91
110
127
109
115
I
H. h. Gbant, Broker, 145 Broadway.)
A
•iH
|iD. D. E.B. AB.— 8crip6
1131a Eighth A v.—-Stock..
106
150
107
110
206 210
106 la
A
lat mort., 58, 1904
103 110
105 'a
2d mort., 5s, 1914
28
31
A
B'way Surface b'd8...1924 102
110 nil*
90
Bom's guar., 59, 1905
40
45
128
Brooklyn City— Stock
165
105
Istmort., fi8, 1902
110 iia"
Bklvn. Crosatown— Stock. 150
50
100
iNinth Ave
Istmort., 7s, 1888
102
Second Ave. Stock
Bushw'k Av.(Bklyu)— St'k 140 150
101 ij 106
Ist mort., 5s, 1910
Central Cro38town—St'k.. 143 146
135
118 125
Sixth Ave. Stock
Istmort, 69, 1922
105 106
91
Istmort., 78, 1890
Cent. Pk.N.AE.Riv.- Stk. 88
214 217
120 1201a .Third Ave.-Stock..
Consols. 78, 1902
- 1890.
102 103
Bonds,
125
78,
Cnirist'ph'rAlOth St.-Stk. 122
Ill
113
Twenty-third St.— Stock. 223 225
Bonds, 79,1898.
110 ilia
DryDk.E.B.ABafy— Stk. 122ia 125
1st mort, 78, 1893
!l09
111
Istmort., 7s, 1893
Ful. F.— Stk.l 26
Bl'ckerSt.
112
Ist mort., 78., 1900
Br'dv>ay A7thAv.-St'k.. 187
105
.140
^
1914
Scrip,
69,
42(1
Gr'nft St. F'ry-Stk.
1893
Istmort., 79,
St,.N.Ave.
'42d St Manh.
l9t mort., 88, 1910
2d mort., income, 68
Hon9t.W.St.A P.F'y— Stk.
1st mort, 7s, 1804
192
108
106
105
95
132
107
165
-
'
I
—
W
83
Unlisted Securities.— Quotations from both Exchangee:
Bid. ABk.
SECURITIES.
Bid. Ask.
SECURITIES.
I
1
Am. Bank Note Co
A Pike's P'k, l9t 6s
A Char. Air Line
35
40
[Mt. De9..V
90
122
40
21=8 22
8
91a
112
107
106
102
Brunswick Co
.
California Pacific
Ist mort., 4159
2d mort., guar
Atl.— BeuRiiciary.
Chic.
O.V. W. A M.- Ccu. D.lst.
N.Y.
V.'.
N Y. A
8.
A
Buff
Green'd Lake, let
2d mort
N.Y. Loan A Impr
.
I
2-12
2 25
18
N. J. Southern
N. O. Pac. Laid Grant...
Newp. N. A Mi98. Val....
80
118
Ist. 79, 1907
Brooklyn Elev'd- stock.. 37
Atl.
East 8h. Ld.Co.
Newb. Dutch. A Conn
Atoh.
1
17
121a
2
30
6
60
A
6V N.Y Mutual T«i
93
N. Pac. P. d'Orellle Dlv.. 102
90
North K1V.O0U8. Co. scrip.
Continental Con.
Imp.. ...„. 37
51a O. LAW.— let aco.int.ccrt. 60
Dta. 8. Shore A At.— Stk.
35
20
2d ace. int. cert
Pref
17
14
Ocean .steam.Oo., 1st guar. 102
12
Georgia Pac— Stock
10934 11014 Peusaoola A Atlantic
let 6b
Postal Telegraph— Cable.
2dB
50
78 ij 781a St. Louis A Chicago
Consol. 58
.«
24
Pref
23
Income 59
St. Paul K.A Or.Tr,, lBt68 100
103
Jarvi8-Confelin,M.,D6b.6a 98
98ia
Scioto Valley, lat. 78
{Kanawha A Ohio
l«i
83ia
Sugar Rehneiies Co
iBt pref
71a
Toledo Peoria A West... 16
2d pref
21a
Vicksb. A Meridian- let. 102
66
Ut6»
33
2d mort
534
Keely Motor
6
Incomes
hi
Kingst'n A Pemb., 1st il. 105
I4
Stock, pref
Lehfgh A Wilkes. Coal.
29
Wnst
Car. -"^on. 69...
LN.A.AC— C.AI.Div.,69 103
MemphisA Cha'st. consols 115 130 Bowory National Bank... 240
German Exchange Bank. '210
26
Mex. Njt.Cnnstruct'n Co. 21
Sixth National Bank .... i250
Michigan AOhIo
1
A
1..;
'1
20
14
40
9
63
62
40
1U4
6
40
4
Si
101
"Hh
18
38
.
Atlantic, pref.
East Pennsylvania
1191a iKlmiia A V. llllamaport.
88
Preferred
price thia week.
1
Lut
i
Incomes
lOlg
16
55I8
Phil.
I
105
50
86
A
US
lib-
661-i
I
113^
,
Ist, 6s
Consol. of Vermont— 58.. ? 83
Eastern, Mass 83, new.. 125 4;
£. C. J^t. Scott & MetD..68
lis"
t. C. Fort Scott
O.—78 Vie'
KanB. City Law.A So.— 68 «107
K.C. Memph. A Blrin— 68
07
Kan. Cit. St. Jo. AC. B.— 78 U23
K. City Sp'd A Mem.— 6b
K.C.
Clint. A Springf.—6s i !.'8
....
„ . _. ~
iiittle R. A Ft. s. _>j^
1107
Loui8T.Ev.&St.L.— Ist, 68 10814 i09
2dmort.,2-88
59
Mar. H.
Ont.— 1908, 68, 100
1923,89
....;
97
Mexican Central—4b
69 3e' 691a
incMne
1»V 19
U.Y.AN. Eng.-l3t, 7b, Ik7i4 2?i-j
1st mort., 68
11714 17 15
2d mort., 6b
1071a
Ogdens. A L.C.— Cons., 68
OS
99
Rutland— 6s
98^
Atah.* Topeka-lBt,7«. J19
Coll. Tmat.
i
80
100
,
123,
Norwich
Wtwmuin Central
Preferred
BONDS.
Ask.
.
83
,
South
Income, 68
27 -a
Chicago 4 West. Mich
CneTeUudlib Canton
t
82
Pennsylvania
A Brie
Snnbury A Lewiston
United Co'8 of N. J
West Jersey
West Jersey A Atlantic
Krie-con. 69... 113>j
5
100 lOlia
General mortg. 4a
45'i
54 '( PhU. A K.— l8t M., 6a...
128 134
113
24, 78, C.A r. 1883
Cons., 78, coup., 1911
isTiI
Con8.,e8,g.,l.R.C.1911 122
Imp., 68, g.. coup., 1897 lOi
Cons. 68, Ist aer., 1922, 101 12 10134
5533
Deterred incomes, op...
18
18ii
3"
Phil. W. A Bait.— Tr. 0..48
102
Pitts. Cin. & St.. L.—78,cp. 119
lig-a
22634 Scliuyl. R. K. S.— Ist, 5s.. 108
Steuben. A Iml.lst m. 68, 1071s 108
IO3I2
United N. J.— Gen. 48
50
Warren A FranJi.— l8t,7s 110 114
West Jersey— lat M., vs. 125
24 14 W, Jersev A Atl.— Ist, 88 107
West Penn.-68, 1893
106 Hi
IO31J
Pittsburg Br., 68....
108
I
Mortgage, 5s
? 99
Trnet, 8s
102
Burl. & Mo. R. In Neb.—
Exempt, 68
118
Non exempt, 68
5108
210
150
169
260
,
Oon<
oncord
Connecticut A Pass
Connecticut River
Bid.
& T'p'a.— (Cont'd)
Plain, 6s
eUo.£url.
B»
Per gbare.
70
72
Nesqnehoning Valley...
Northern Central
North Pennsylvania
<iaa
Deposits.^
Legals.
Specie.
Jan. 19.... 113,105,3
" 28.... 113.165.3
Feb. 2.... 113.165,3
"
9 ... 113,185.3
Feb.
5434
Haven....
S.
Bid. ABk.
A
213, Phlla.
Lehigh Valley
ttt
tSttrp/us.
" 16...
Boston.*
A Broad TopJ3
Little Schuylkill
A
SECURITIES.
Ask
SECURITIES.
Hnn11n,a;ton
Minehill
Bank ot New York..
[Vol. XLVll^-
Preferred
Deposits.
LegaU.
Specie.
Surplus.
Capital.
(00s omitted.)
Market
.
.
THE CHRONICLK
246
State of
—— —
.
40
65
48 14
68
N
^
250
..
.
Fkbroaby
..
THE CHRONICLE.
28, 1880.]
247
ABSTRACT FROM REPORTS OF THE NATIONAL BANKS MADE TO THE COUFTEtOLLER DECEMBER
DepoiU$.
^1
^1
1R88.
76 10.fi85.000
6,205.000
4»
7,466.000
4»
55 61.400,000
Maine
N. Hampshire.
Vermont
m
£
^ Boston
3 Mass other
* Rhwie Island.
^ Connecticut.
198 45,140.500
60 20,284,050
81 24.194.370
571 165.374,920
..
,
.
I
Total Div.No.l
f New York City
• Albany
46
6
3 N. York, other
^ New Jcryey...
a Phlladelplda..
B Pittsburg
ij
Penna., other
I
ToUl Div.No.2
f
Delaware
* Baltimore
9
«
B
?69
248 33,:(iO,012
722 rUO.408,572
12,6i)2.3i>8
26.7iM,490
76. 130.167
77,957,247
681.285,54L'
831,:i00
4,704,191
19,666,931
7.226.134
7,153,712
760.351
32
7
.
I
TotalDlv.No.3
120
North Carolina
South Carolina
18
1!)
16
25
13
22
12
Georicia
Florida
8
5
100
7
9
» Texas
Arkansas
Louisville ....
Kentucky, oth.
61
I
Tennessee
Total DlT.No.4
42
338
f
Cincinnati
...
13
9
197
other.
163
Detroit
MichlK'n,other
8
« Cleveland
3
^
•;
Indiana
Chicago
B
Illluols,
.
;;
....
Ohio, otiier
19
f
Total DlT.No.5
Iowa
Minnesota
Louis
e
fc et.Jo.&Kan.C.
1
4
12
35
168
7
ICO
58
5b I
St.
Z
Missouri, oth'r
Kansas
Omaha
J5 Nebraska,
J
I
f
S
S
olh.
Dakota
Total Div.No.6
Nevada
Ban Francisco.
2
California.oth.
33
5 Oregon
27
J Washington T.
I
~2,276.000
1.773.000
3,471.000
900.000
3,574.000
1,105,000
2,925,000
500.000
11,837,300
950,000
3,651,500
10,1^9.250
7,727,180
23
Total Div.No.7
87
Arizona
Colorado
S Idaho
3,200,000
6,900.000
2,456,000
12,848.680
3,050.000
6,447.250
3.635,000
62,839,68u
7
Montana
17
9
7
9
«4
..
a Utah
g Wyoming
562,243
787.800
1,055.460
101.320
725,603
242.290
1,424,000
84.214
2,758,980
191,000
996,279
2,393,534
1,617,655
12,940.377
1.801,000
1,107,000
5,672,765
3,593.156
5,331,78»
4,633.933
504,000
2,430,459
370,000
1,319,945
2G.7G4.047
2,712,318
2,537,362
840,000
733,000
585,811
1,808,817
418:010
1,111,701
820,862
11,567,881
98,000
425,000
1,014,345
316,550
324,150
2,178.046
lOO.uoO
3,465,000
450,000
1,950,000
975,000
900,000
1,175.000
y.oio.ouo
3i
"^ New Mexico
8.',i23.756
282,000
2,500,000
5,275,000
2,380,0u0
1,815,000
12,252.000
',
«:
3.840.000
972.529
567.000
60.000
1.516.193
436.734
8,900,000
6.650.000
24,399,000
12.186,500
15.250,000
14,824.000
4,000.000
11.024,600
102
3
8."i0,000
67
4,825,000
6b7 102,909,100
131 10,332,750
66 13,970,000
f Wlsconsin,oth.
L
2,133,989
11.713,260
2,852.700
1,575,000
252,000
3,846.300
1.856.000
2i,229,216
50.Hl9,7Hi.
96
• Milwaukee....
41,699,28.'S
4,!)S13.151
1
S,
257,972.»68
7,440,998
90,938,129
10,7(:<i,100
5,197,432
11.44I,S03
18
17
New Orleans..
Louisiana, oth.
81,689.363
1,274.000
i;i.a7i.iH)0
20
jj
•»
49.100,000
1.750.000
34.R87.700
$
9
10.l.'!0.0(()
Virginia
West Virginia.
Mississippi
167,730
488,330
477,148
ZIMO-i.OOli
Dist. Col., oth.
!
10,810,428
«.205,342
6,510.966
87.814.493
65,518.417
16.255,223
27,384.229
209,499.008
8t)
E
^
Alabama
2,558.839
l,49^.114
1.647.026
13.013,524
14,425,505
4.341,111
0.918,617
45,029,636
24
....
1
Other.
43
Maryland, oth.
Washington
.
Individual.
$
$
f
Cold
Loans * dii- Oold and
Treoiury
eountt. (Inel'o gold 0. H.
oterdrafu.) eertlfteata. eertifiealu
Atrpiiw.
Oapilal.
9,000
1,160,255
85,50"
606,000
185,726
472,500
212,500
80,039.91 9
3,753,3 IM
1,600.(!39
14;i.S48
2,161.743
9,0!IH.7S6
6.822,166
10;i,913
2,15S,577
1,943,258
1,371,749
671,127
834,921
14,211,711
l,566',i24
3.281,258
&2,864.8Ui
82.50U
2,721.H77
3.692,404
3,840.072
5,326.350
2,022,225
6,349.605
1,926,814
12,763.879
110.000
678,105
155.799
214.045
294,867
992.294
17,031,845
2.440.693
4,020,784
10,771,607
110,000
426,177
160.000
887,812
1,554,513
424,885
11,491,291
81,H«9,863
e'ii'i'go
5,6J7.6!)3
20,274,415
25,576,950
5,590,230
11,639,814
4,787,70S
16,199,412
7.711,735
10,002,330
5.929,775
107,712,369
287,335
3,870.136
14,124,596
6,361,731
6.776.535
31,420,333
22 7,329
29,500
444.820
45.570
526.900
85,500
38,740
11,310
2,937,004
1.178,040
145,052
124.794
179.903
32.299
160,493
37,520
163,454
460
160
5,334.321
26,661.387
7,844,694
4,549,618
414,639
11,187,171
4.074.994
59,866.824
110.413
1,627,782
4,884.731
4,615,968
8,005,094
1,966,876
7,011,164
2,521.814
11.501.567
1,356.079
24,836,880
2,683,144
9.286,722
18,839.525
19.259,818
116,769.982
323,122
192.363
96.638
369,367
2,271,654i
368,056
731.205
2.330.692
1,736,548
9,652,705
4921
330
313,727
442.067
475,134
159.439
407,701
166,850
1,320,562
72.610
1,896.310
159.346
725,870
581,943
675,286
7,396,804
19.049
90,753
6.50
53.976
95.491
047,830
56,384
237,185
64,584
6,140
34,988
68.207
l.(i40,35« 1.375,507
75.033
67.5(0
447.037
294.411
313,167
381,017
113,071
193,924
32,018
125,88K
2(i0,000
185,000
168,660
125,970
2,166,6.50
70,000
10,000
44,669
73.477
796.390
84,917
31,116
26,033
23,650
15,969
3,560,742
1.081.000
2.992.928
1,727,414
6,857,727
1,783,320
4,522
17,490
184,609
51,851
87,481
345,953
45U
2,066.
2,745^
69,554
46,762
15,249
132,015
185,648
14,340
1,279,886
155,120
701,033
125,392
388,163
198,911
2,862,845
'201
38,790
912,802
251.075
4.829.27»
50
154,473
14,674.889
711,274
9,291,390
1,893,108
2,590,762
2,410,932
31,626,828
fit). 374
176;477
146,618
7,357
94,578
8.728
724,56«
53.560
7,740
8,430
69,780
49.347
1,362,280
2,421,023
1,012,117
847,996
5,692,763
1,126,953
186,40»
2,325,682
267,484
847,037
39.777
10,051
153,000
61,325
7,642
74,069
5.540
28,286
16.304
400,994
636,219
5,202,668
14,173.486
6.705,035
6,471,701
33.189,109
1,379,458
52,395
113,600
189,431
60,643
80,110
55,343
197,118
48,601
507,080
20,697
57,563
78.236
189.539
28,020
379.753
49,694
156,43b
233,949
278.671
23,125
125,090
49,353
182,099
122,110
74,897
53.946
1,14^,240
15l,441,6.;2
lll,t)50
74,860
120.913
83,426
27,881
2,523
141,710
31,125
482,438
80,880
6,800
330,000
428,040
6,380
25,860
10,680
17,260
14,540
920,440
330,678
86,912
543.714
637,182
13,500
366,567
247,009 3,425,767
167,060 2,140,810
754,976 6,466,200
157,084 1,864,219
211,853 3,012,925.
3,147,829 3,550.432 40,850,328
38,743
672,874
292,820
539,350
149,312
755,917
15.0'f3.380
784,529
283.649,814 20,275.330
1,031,313
1,229,107
561,955
4,5ti5.784
728,078
876,474
4,299.398
1.700,044
638,584
890.211
8,091,367
155,640
26.540
35,040
120,000
15.060
3,258.560
1,8(19.130
967,893
2,698,408
616,474
96S,344
312.852
971,572
965,56^
574,884
375,872
8,251,891
l,li30,4»3
216,238
138,088
203,194.
69t4,813 l,»9s',»44 24,573.77»
870
1,327
$
27,720
13,783
10.424
988,978
147.393
80,000
nO.HOl
1,304.280 1,371,195
60,090
32,490
4,000
252,380
6,850
192.610
21,000
11,100
47,510
118,880
738,400
394.232
46.351
288,395
380,582
317,243
26,576,018
38,1 19,462
8.348,922
16,801,268
5.542,318
23,173,101
9,822.885
15,829,703
7,228.915
191.390
934.271
275.000
139,19t>
17,271,267
1,035,250
9,101,155
1,824,888
3,175,401
1,832,964
34.383.124
7,028,888 60,612.130
416,460
468,400
3,360,768 1.253,770
1,053,903
282,880
9,362.854
131,260
1,9,19.072
853,000
3,635.618
289,990
26.M12.059 63,881,030
21,031,36a
16,301.299
63.560.520
28,410,843
62,067.086
40,075.591
13,697,441
28,899.992
4,512,294
17,580,058 4,825,070
11,977,875
364,669
42,671,524 1,2116,195
25,831,604 1,387,635
48,125,423 ],018..^77
35,698,112 1,559.804
10,035,143
738,233
22,371,845
48,852
4,221,169
446,726
13,917.719
140,135
232.430.472 11.736.576
9
82,793
85,410
70,803
195,274
620,219
107,702
242,080
$
610,181
279,171
284,309,364
8,505,421
101,749,360
643,g05.ti06
45,000
584.797
308,000
135,256
eerlific'le*
8.960
1,000
824,687!
7,120
4,176,949 4,624,640
2,006.024
239,310
420,411
78.730
1,303,219!
218,750
9,120,642j 8,178,410
43.867.S0ii
aUver Leo.Undfrt
Treaimry itU.S.tlft.
of dcpotiu
BUver.
20,416,414
10,038,738
12,866,388
136,831,144
94.996.666
36,124,919
41,811.821
366.105.079
87.575.689
32.940.459
84.897,807
•
10,072,23!)
$
12. 1888.
794,922
900,443
367,064
557.490
2,043,124 1,176.221 20,ti23,068
1,543
113,659
16,253
71.039
20,901
21,001
12,210
256,606
" 8,7 90
1,210
40,200
1.000
56,920
1,640
109,760
'iofiii
10,785
33,573
5,600
19,844
1,397
81,854
l,0a8,467
880,702
1.193.417
1,566,219
282,868
1.164,404
703,973
339,244
360,440
7,5ti4.733
178,90»-
110,44&
479,814
ll.OOO
1.10S,06e
95,834
50^,476
97,398
70,008
34,345
1,919.677
1,720.914
2,631,4S1
I Total DIt.No.8
Total for U.S... 3,150 593.848. i;47 187,292.470 1.331.265,617 51,122,619 1,676.554,><64 78,224,188 75,334,420 10.362,82618,812,844 91,775,llbO
STATEMENT OP THE NATIONAL BANKS OP THE RESERVE
AND
CITIES.
TOTALS.
s
Totals for Rkskstx
8
CITIKH. &c.
s-3
for circolatloo..
Other U. 8. bonds
Stocks, bonds, ie
Dim from banks
estate
coin
cert's...
Clear. House otfs.
Bllrer coin and certlH's
Legal tender notes ....
n. 8. ctfs. of deposit...
National bank notes..
Clearing Uuuse exch'a.
.
Due from
U. S, Treas..
Other resources
MWt.
MiVa
136-8 281-4
8-5
MUfs.
Iiewurc€t.
8
Bonds
Treasury
4-8
6-0
1-0
3-7
Undivided
profits
I>uetobanlts
Other llabUltles
Mil's
MU'a
Mil's Mil's Mil's MIU's.
MU's
4-5 11-5
9-3
210
l«-3
621
13-7
1-4
-5
•6
1-1
1-3
4
34
9
•6
Mil's] Mil's Mil's Mil's Mil's
4-5' 8-3 14-8
2-0 9-8
S-4
-1
•B
1-0
•6
•8
1-3
4-0
•6
19
29'3 301
4
•9
•4
2-1
3-1
14-5
3-9
4-8
1-0
2-4
1-0
10-4
•4
3-5
1-7
•9
7
2
•7
•7
•8
•2
•1
r-0
•4
a-2
2-0
1-6
•2
3
•4
7
9-B
1-0
•8
'4
6
•»
•2
2-2
3
a-e
4-2
4-8
GOe
1-6
•1
-i)
-1
•3
•2
2-5
12-4
•7
3-2
759-9
•8
25-4
27-a
-5
•1
•3
•3
•8
4
9
1
1-0
1-8
•6
•I
•4
390
3-4
2-6
•8
129 2
•8
•7
•2
1-0
1-2
•1
23-0
34-2
71-3
•1
•2
7-4
9-2
1-4
49-4
•4
4
3-2
MU's Millions. 3r<Iliom. AfiUions.
•2
-3
1-0
•3
7-8
18
ij?
3-9
aoi
•i
11
6-S
•4
4-4
1-9
1
-4
•4
1!
•1
•3
•8
•8
1
1-0
4-1
1-5
7-4
•1
1-3
•8
4-8
!» 18
8
1
1-2
1-4
l-l
•1
-1
•1
1-4
•5
-S
•4
3 13-1
1404
as-i 10-4 11-7
13-8
•3
114 30
a-o 11
30
-7
91-6 •2B4«
r-5
3-5
397 1308
•3
-1
1*^
2-4
1-4
1-8
104 232 J4
1
10
2
43-1 24-1 103-4 21-0
89-2
so! 14-5
«6
84
135
28-7
42'S
1.297-7 1,4799 2.777-6
230 35 171
3-2
6-1
•3
3-0
2-5
2060
•8
I
•1
•4
•4
81-2
-2
•8
•4
•6
•3
•3
•5
•1
•2
•3
303
-4
1-7
•6
•8
•8
•3
•2
•5
•1
•3
•5
21
4-9 224
20 34 80
12-S
2-2
491
325
10-8
4-7
88
4-0
1-4
3-9 10-s
4-1
6-0
2-3
4-6
-S
3-7
10
•2
•1
•:t
-1
•9
-6
M^^l14l 45
10
241
103-4l2|-ol
8-0145
"3I117I
2-8
1-8
•4
-8
7-4
19*
•6
•8
7-3 13-4
82-5
9-2
•S
8
10
331
22-4
91-8
40
1-3
73-3
70S
-7
5-3
2-2
•4
3-8
63-4
151
133
-8
288-0
7-3
1-1
1-3
158-8
38-4
36-8
85
6-e
3-7
1-0
9107 1.876a
1374 16-J-8
33-3
281
633 102-3
•2
1-8
1-4
41-8 tO-4
•4
8-9
2-0
•e
•8
814 27-4 20-3
199 3-0 3-8
2
•1
-1
1-1
•1
1-e
3-8
•1
1-8
-2
1-8
31
41
IS
8-5
30-4 41-8
•I
•1
•1
1-3
13-6
•8
•1
5-7
491
317
31-4
•S
•8
•1
'o
1-6
3 ^4
Ciroulallon
Due to depositors
MU'i MWi
sr-0 32-9 26-7
Afi«'».
2-0
4-8
2-3
8-2
Totals
LialitUHa.
Capital stock
Surplus fund
sis
w
VJ
Beal
Gold
Gold
Gold
E.5
I*
«49'8
30-29
3;^5
1.297
3870
1061
380
1219
7332
593 »
1873
SS3
143 6
1.38-i-4
37
4
369 3
16
3
21-8
1.4T9 9 2.777_6_
. .
—
......
.
-
.
THE CHRONICLE.
248
[Vol,.
Latest Earnings Reported.
%uvitstmtnt
WeekorUo
[nd. Deo. A West. January ..
Iowa Central... 2d wk Feb.
KanawhaA Ohio
The INVESTOBS' Supplement, a pamphlet of 150 pages,
contains extended tables of the Funded Debt of States and
other
Cities and of the Stocks and Bonds of Railroads and
Companies. It is published on the last Saturday of every
other month—viz., January, March, May, July, September and November, and is furnished without extra charge
Sxtra copies
to all regular subscribers of the Chronicle,
subscribers of the Chhoniole at 50 cents each,
per copy.
and
The General Quotations of Stocks and Bonds, occupying
Hv pages of the ChkonIcle, are now published on the
to
to others at $1
third Saturday
of each month.
RAILROAD EARNINGS,
Latest
BOADB.
£amingi BoMrtea.
WeekorMo 1888-9
Jan. 1
"1887-8.
to Latett Date.
1888-9.
1887-8.
183,545
2,029,108
Allegbeny Val.. December.
8,675
8,200
8,675
8,200
AsliT.& Spartan. January ..
Atoh. T. & 8. Fe. Nov^ember. 1,460,371 1,657,078 14,260,107 16,965,412
Whole Sj-Btem. November. 2,303,544
119.322 134,539 l,196,6l8 1,198,749
Atlanta & Char. November.
43,069
417,949
416,898
41,684
Atlaiita&W.Pt.. December
61,835
62,959
388,270
328,201
Atlantic &Pac.. 2d wk Feb.
12,018
9,062
Aug. Gib. & San. November.
B.AO.Eastlylnee Januaiy .. 1,209,805 1,093,274 1,209,805 1,093,274
3iG,402 371,4^5
Western Lines. January ..
January . 1,566.207 1,464,769
Total
113,224 120,983
Bait. & Potomac December.
S5,115
December.
97,352
Beech Creek
31,234
37,092
Baft.Eoch.ifePUt 2d wk Feb.
72,374
72,1>?9
Bur.C.Rap.&No. 4th wk .Tan
12,928
13,527
Oftlro V. & Chic. 2d wk Feb.
82,637 135,957
CalUor'a South. November.
36,041
•Camden * Atl'c January ..
32.931
Canadian Pacltlc 2d wk Feb. 207,000 188,000
356,402
1,566,207
1,539,124
913,334
228,118
205,628
80,487
1,368,621
36.041
1,297,000
54,358
Op.F'r&YiMl.Val 2 wks Feb.
19,544
15,283
Carolina Cent... November
63,416
56,975
490,868
Oen.RR.<feBg.Co. December.
750,365 742,005 7,314,140
Centralof N. J. December
977,212 992,478 13,177,473
Central Pacltlc November 1,381,562 1,300,303 14,615,850
Central of 8. C. November.
8,915
9,241
94,339
Oharlest'n &Sav December
56,994
49,557
.554,191
.
Cheshire
November
Ohee. A Lenoir.. November,
Ohio.
<k
Atlantic 2d
wk Feb
87,900
8,064
36B.163
87,232
107,610
51,215
7,046
35,617
183,400
&No December
ChlcBiu-l. AQ.. December 2, '.67,674
Ohio. & Ea«t. 111. Ist wk Feb
39,022
CSilc. & Ind. Coa! 1st wk Feb
11,378
OhIc.Biirl.
Tot. l)Otli Go's. 2d wk Feb.
55,989
Chic. Mil. AStP. 2d wk Feb.
406.000
Chic. & N'tliw'u. January .. 1,613,245
Ohio. & Oh. KIT. January ..
7,872
CaUcSt.P. &K.C. January
..
Ohlc.8tP.M.&0. Dec-mber.
Ohio. & W. Mich. 2d wk Feb.
01n.Ind.8t.L.&C. Zd wk Feb.
Oln. Jack. & Mac. ^dwkFeb.
Cln.N. O. AT. P. 1st wk Feb
Ala.Gt.8uuth. Ist wk Feb
N.Orl. AN. E 1st
Vlcksb. & Mer. Ist
Vlcks. Sh. A P. Ist
wk Feb
wk Feb
wk Feb
ErlanxcrSyst Ist wk Feb
01n.Rlch.JiFt.W. d wk Feb.
•
'.
On.
8el.
&Mob.. December.
wk
01n.Wash.&Halt. 2d
Feb.
CleT.AkronACol Ist wk Feb
Oiev. <fe Canton January ..
Clev.Col.C.A Ind November.
Whole system- January ..
Olev. A Marietta 2<1 wk Feb.
Color. Midland.. Ist wkFeb
CoL A Greenv.. January ..
OoL AClu. Mid. 2d wk Feb.
OoLffock.V.AT.
DayTrt.W.&Chi.
Denv. A Rio Gr.
Denv. AR.G.W.
wk
2d
Feb.
January
wk Feb.
wk Feb
2d
2d
I>en.8.1"kAPac. Dcceml>er.
Det,BayC.AAlp. 2d wk Feb.
Det-LauB'KANo. 2d wk Feb.
DuluthS.S.AAtl. 4 th wk Jan
K.Tenn.Va.AGa.
Ist
BTana.AInd'pll8 2d
wk Feb
wk
EvaDar. AT. H. 2d wk
Feb.
Feb.
Fltchburg
January
Flint* P. Marq. 2d wk Feb.
nor. RyNav.Co 1 st wk Feb
rbW.A Den.Clt\ Ist wk Feb
Pen. T. & (Jul'l llh wkJan
Den. T. A Ft. W Itli wk Jan
tWIiole syst'iB. 4th wk Jan
SeotglaFaoiflo. January
Sr.Bap. &lnd... 2d wk Feb.
.
Otlier lines
wk Feb.
Wk Feb. 9.
2d
Orand Tnink...
QuUCol.A8.Fe. November,
Eoaa.ATex.C«n anuary
Bnmeat'nAShei faiuiary
IILOsii.(I».&8o) laiiuary
OedarF.AMm. iaiiuary
JDub.ASIo'iC. January
Iowa
lines
.Total
all
January
January
.
,
.
.
.
.
191,958
457.576
24,387
56.981
12,168
72,115
32,119
22,970
12,519
11,22»
150,982
8,788
17,321
38,368
10,869
28,151
S43,968
564.593
3,87
27,308
64,70u
6,923
46,952
37,122
126,000
23,175
70,72'
10,908
16,963
31,17^
121,353
5,426
17,385
425,169
44,161
an, 117
20,524
13,728
16,664
50,444
118,497
41,345
3,429
307,024
335,90vs
243,761
10,500
993,85r
6,26
2d
wk
Feb.
wk Jan
wk Jan
December.
January ..
Keokuk A West. 2d WkFeb.
Klngst'n A Pern. Ist wk Feb
Knoxv: A Ohio Deeeraber.
Lake E. A West 2d wk Feb.
Lehigh A Hud.. January -K.C.Ft.8.AMem.
Kan. C. CI. A 8p
K. C.Wy.A N. W.
Kentucky Cent
4th
tth
Rock A Mem 1st wk Fei'
Long Island
January ..
L.
A
Xoveml>er.
Mo. Riv.
Louls.Ev.ASt.L 1th wk Jau
Loulsv.ANashv. 2(1 wk Feb.
La.
wk Feb.
LoulsT.N.O.AT. 2(1 wk Feb.
Lou.N.A.
A Chic.
2d
January ..
Mar.Col.A Nor'ii Janna(y ..
Memphis AChas. 1st wk Feb
I&Meriean Cent 2d wk Feb.
San Luis Div 2dwK Feb.
tMex. N. (all Ins) January ..
Louisville So
tMexlcanRailw.v Wk Feb. 9
Mil.L.SU.AWest 2d wk Feb.
Milwaukee A No. 2d wk Feb.
Latest Dats.
84,700
7,917
383,242
110,633
160,760
49,965
7,402
39,068
141,998
87,900
74.473
366,163
919,208
167,610
548,426
71,915
236,709
2,026,319
2,163,388 23,789,168
39,428
207,6.14
10,912
54,632
51,127
318,255
354,704 2,458,500
1 571,289
l,613,-.i45
3,274
7,872
121,863
191,958
599,165 6,414,422
20,717
138,51
50,568
340,449
7,766
63.888
62,238
391,4^3
30,f>7-
13,371
9.401
10.354
192,91 h
12.<,7 74
371,495
1,464,709
1,447,333
78 e, 823
234,693
208,245
83,047
1,335,754
32,934
1,192,205
43,203
468,202
6,761,726
11,424,675
12,427,832
82,779
495,763
84,700
71,587
383.242
1,015,752
160,760
604,476
63,836
227,865
2,276,199
27,576,078
196,177
59,532
306,836
2,171,200
1,571,289
3,274
121.863
6,940,873
125,222
307,068
48,923
339,h01
167,328
88,420
55,467
67,606
69,402
04,853
125.942
812,441
708,685
8,785
47,089
45,952
15,828
123,519
122,969
42,702
254,8!(5
256,301
9,980
62,063
52,916
26,533
28,151
26,533
424,437 3,950,887 4,199,715
574,994
564,593
574,994
5,559
26,372
36,162
21,152
140,362
106,668
57,900
64.700
.'17.900
5,880
38,835
38,154
46,830
297,974
298,972
34,817
37,122
34.817
120,500
821,000
832,937
21.200
153,800
125,075
90,213 1,065,386 1,282,680
7,965
59,206
43,b70
14.538
103,863
89,462
24,369
82,575
77,050
110,964
613.378
580,408
4,543
30.418
24,783
15,570
100,957
94.595
377,935
425,16r<
377,935
41,40ii
285,848
282,223
23,592
137,85»
118,804
10,253
9S,376
73,756
53,464
22,871
62,219
190,537
116,571
118,497
116,571
37,581
242,977
223,609
3,035
21,040
10,217
282,017 1,870,202 1,709,580
387,200 2,875,363 2,582,959
170,802
243,761
176,802
13,174
10,500
13,174
957,803
993,8.52
957,803
4,929
6,265
4,929
113.642
148,865
113,642
118,571
135,130
118.571
128,865
135,130
1.135,247 1,081,304
1,135.24
1.081,304
2(1
wk
Fei>.
N.Y.Sus.A W... December.
Norfolk A West 2d wk Feb.
N'theastm (S.C.) November.
Northern Cent'l.
Northern PaoiUc
Ohio Ind. A W..
Ohio A Miss
Ohio River
Ohio Southern
Ohio Val. of Ky.
Omaha A St.
L.
December.
2d wk Feb.
let wk Feb
2d wk Feb,
2d wk Feb.
November.
1st
WkFeb
Deceiuber.
Oregon Imp. Co December.
Oreg.R.AN.Co 1st wk Feb
Oreg. Short Line December.
Pennsylvania.
PeorlaDec.AEv.
Petersburg
Phlla.&Erle....
Phlla.A Read'g.
Coal A Iron Co.
Tot. both Go's..
Pltts.AWest'ru
.
P'rtRoyalAAug.
PtR'alAW.Car.
Preacott. A Ariz.
Rlch.AAll'«'y.
cR. ADanv.Sys
Rich.
A
Peters';:
Rome W. A Ok..
St.Jos'ph&Gr.L
8t.L.A.AT.U.li3.
8t.L.Ark.A'rex.
St. L. A San Fran.
8t.PaulADulutb
St.P.MIn.AMau.
S.Aut.AAr.Paas.
Scioto Valley
Spar. Uu. A Col
Seab'rd A Roan
Seattle L.S. A E
Shenandoah Val.
SouthCarolina..
So. Pacltlc
33.224
38.601
4,435
121.099
6,717
33,600
70,959
6,715
2,278
29,939
29,164
3,662
125,945
7,070
33,224
177,743
30,796
357,248
18,886
29,939
155,260
28,426
337,990
20,266
72,709
6,223
70,959
'72,'709
38.88-1
2,871
40,59.4
39,890
33,970
15,951
18.584
174.407
S0,267
19,461
12.092
500,286
286.519
19,260
71,589
187,748
418,393
70,790
330,305
307,H.50
2,0 15,580
37,i'91
36,195
59,517
41,629
12,397
465,653
212,089
16,951
88.859
174,407
550,639
75,661
1,925,907
205,568
340,511
53,613
19,260
12.933
187.74>-
37,530
55,011
37,303
6,926
50,483
108,580
841
262,588
86.811
47,809
20,280
83,000
7,185
37,840
117,427
178,133
7 -,029
32,44
14,720
86,600
455,123
202,210
270,8< 6
3,886
65,570
2,716,704
2,232,618
560,101
425,857
40.273
23,682
135,645
75,837
45,297
490,286
201,29U
30,225
76,528
6,933
60,153
1,445.901
1,395,185
499.953
499,960
6,203,394 6,212,926
1,627,954 1,087,124
152,470
142,608
454,058
483,152
40,849
55,380
632,770
506,140
11,598
10,730
443,619
427,711
4,876,051 4,167,707
341,495
436,896
2,671,865 2,018,068
58,172,077 55,671,313
87,88"
82,032
360,631
413,508
4.373,012 4,036,931
20,616,746 21,903,073
18,375,794 19,656.704
38.992,540 41,559,777
137,666
161,096
320,404
317,608
301,665
335,575
8.712
11,925
64.345
142,571
840.671
938,092
231.590
266,51b
3,357,353 3,222,607
113,624
129.468
96,102
96,864
310,324
384,183
562,796
623,526
64,511
61,963
482,421
394.000
48,514
61,184
789,125
665.927
93.826 . 70,172
571,796
621,684
18,22"
51,100
53,0U0
1,269,031 1,217,393
570,673
556.980
2,091
48.554
371,205
68,897
171,811
.
.
Gal.Har.&S.A. December
Total of
all..
ER.—
Decemb('r
December
December
December
December
December
SummitBrauch January
Lykens Valley
Texas A Paoiiic
Tol.A.A.AN.M'b
Tol.&OhloCeut.
A West..
..
January
2d wk Feb.
.
wk Feb.
wk Feb.
1st wk Feb
2d
2d
Tol.8t.L.AK.C January ..
December.
Union Pacltlc
Valley of Oliio.. January ..
Midl'd
January
Virginia
..
.
314,878 3,804.674 3,347,181
843,795
77,846
966,494
620,732 5,226,101 4,084,339
170,528
146,527
15,536
119,126 l,438,57e 1,267,564
1,151,656 1,148,11m 11.582,373 10.313,40*
2.820,037|2,484,690!35,H7,24* 2-,459,739
3,977,693 3,632,809 46,699,614 38,773,147
314,922
83,167
581,420
15.839
ISO, 308
..
No. Dlv. (Cal.) December.
So. Dlv. (Cal.) December.
Arizona Div.. December.
NewMex. Div. December.
Stalenls.Rap.Tt Jauuary ..
.
Wabash Railw'y Deeemiicr.
Wab. Western... 2d wk Feb.
WasU.O. A West. January ..
Western of Ala. D(cember.
West N.Y. A Pa. 2d wk Feb.
West. No. Caro.. January ..
January ..
(West Jersey
W.V.Cen-APitts Jauuary ..
Wheeling A L.E. 2d wk Fel).
Wll. Col. A Aug. November.
Wisconsin Cent 2d wk Feb.
II
2.12
45.373
335,582
82,118
245,250
228,638
357,761
37,303
0,926
7,185
195.780
210,505
684,369
740,004
10.656
17' 8, 133
262,568
465,926
514,710
201,098
261,664
98,805
117,332
86,600
83,000
455,123
440,972
202,210
281,433
270,806
293,080
23,121
24.843
816,445
869.066
2,710.150 2,710,704
27,009,353 26,853,269
5,694.260 5,858.815
5,340.064 5,054.276
40,273
42,910
14D,232
151,943
Co.—
Morgan's LAT.
N. Y. T. A Mex.
Tex. A N.Orl
Atlan'o system
Faclflc system
Tol. P.
26,551
123,694
99.430
50,951
499,538
252,069
31,272
87,209
9,760
48,411
16,431
Decemljcr 4,80-i,0S3 4,892,954
2d wk Feb.
16,651
13,219
Deceml>er
34,293
33,356
Oecember. 257,164 328,637
December. 1,517,066 1,715,650
December. 1,125,563 1,573,422
D(^ceiuber 2,642,029 3,289,078
4th wk Jan
54,831
42,359
December
25,203
27,544
December. - 41,169
36,723
Januaiy
11,925
8,712
Wk Feb. 15
10,259
21,006
1th wk Jan
228,204 207,621
December.
22,901
19,577
Doceml>er
267,36- 261,161
ii\ wk Feb.
23,218
19,676
1st wk Feb
18. ICO
17,232
2d wk Feb,
62,036
53,627
2d wk Feb. 103,416
85,275
January .,
61,963
64,511
Januaiy ., 394.000 482,121
3d wk Jau,
22,119
13,733
December
54,683
62,901
November.
11,276
10,555
November
77,127
71,499
January
18,227
January
53,000
51,100
December
123,506 122,898
Louls'a West.. December
So. Pac.
1887-8
1887-8.
.
N.Y.Ont.&W
1888-9.
1888-9.
MInneap.A St.L. January ..
Mo. Kan. A Te.^t. January .
440,972
Tanuary
281,433
MobUe A Ohio
Na8h.Ch.&8t.L. January ..
293,080
Natchez Jac. AC 3d wk Feb
4,211
65,870
New BruuBwick. December.
2,710,150
N.Y.Cen.&H.R. January
N.Y. L.E. A W. December. 2,141,803
N.Y.Peuu.&O.. November. 492,637
N.Y.&NewEng December 429,8ti9
42,910
N.Y. A Northern January ..
.
$
9
179.048 2,098,965
Oiar.CoI.&Aue. January
Cheraw ADarl. November.
Ches. AOhio
Januar?
Ellz. L. & B. S. November.
Ohes-O. &8.W.. January ,.
to
RO.U>8.
llaiXr0ad lutelligewce.
arc sold
Jan. 1
XLVIiI.
151,388
546,492
175,531
86,913
49,956
119,560
«S,200
107,560
17,651
20,778
18,766
66,193
2,380,420
43,508
140,300
521,77a
119,853
7,900
51,159
51,800
«3,000
82,959
61,020
16,450
78,433
56,189
137,082 2,055,938 1,727,215
245.895 6,661^,600 4,138,399
234,704 2.0;»9,140 1,756,519
735,736
99,937 1,003,638
42,781
42,781
49,956
166.973
119,560
150,973
99,342
88,2u0
99,342
770,063
112,71/
741,458
64.048
9,340
100,721
156,221
25,662
118,529
88.842
86,876
10,873
32,872
00,193
32,872
28,557,766
2,243,872 29,260,824
3-1,046
38,046
43,308
125,900
125,900
140,300
546,796 6,549.848 6,933.692
577,m31
78,070
678,185
7,000
7,000
7,900
487,779
461.913
56,142
315,559
49,>-00
335,200
60,700
50,700
f3,000
85,705
83,705
82,959
37,227
37,227
61,020
102,855
16,997
104,278
678.224
74,006
722,442
345.332
56,849
353,650
* Mexican oiurenoy.
And branches.
AU lines moluded.
Includes whole system from Fort Worth to Denver, but notearalng*
on Joint track— Pueblo to Trinidad.
5 Including Iowa Falls A Sioux City.
b Including in 1889 Gaadalii)ara branch.
c Earnings of entire system. Including all road operated.
*
||
t
.. .
Fbhkdart
28.
—
.
CHROMCLK
'JDHt:
18£9.J
Latest Uro88 EarningrH br IVeeki*.—The latest weekly
earnings in the foregoing table are separately summed up
•8 follows.
The returns continue favorable, and for the second week of
sFebruiiry the gain is ia'80 per cent on 52 roids.
3d w«ek of Ftbruary.
1889.
9
AE.
Ui
2-1.38
20. ri
OC.SSl
12,IG8
8.789
38,388
3,879
6.923
40,952
12G.000
23.175
10.908
50.569
7.766
8.785
42,70
5,559
5.880
40,830
126,300
21,200
7.965
14,538
4,543
15,570
41,406
37,581
3,035
29,164
3,662
6.223
33,970
307,350
36.195
59,517
117,427
32,442
14.720
3.886
23.682
75,837
201 ,290
76,528
6,933
13,219
10,259
19,676
53.627
85,275
112,717
9,340
25,562
78,070
49,800
16,997
56,849
AC. &r.C.
Ills
& Bt.
.53.989
Obloaeo A West Mlob
Clnclnnaillnd. St.
C
OuiolunutI .hiok. •& Mack
CluolmiMtl Kieli A Ft. W.
Wash. A.
Ola.
Cleveland
A
A
Bait.
Marietta
Ool.
C n. .MIiUaiKl
Col. H. Val
Toledo
A
Denver A Ki4> ir.'mtlo.
Denver A K.( Jrandc West.
Detroit Buv ('. A AlDona
<
Detroit
A
North...
Imlianap...
I,aiia.
EvauHvlUe
Evansvlllo
A
AT.
1G,9<>3
5,426
17,385
44,161
H
A I'lre Marquette..
Grand Kapids A Indiana.
Flint
Other lines
41,34.';
ionlBvUle
3,429
38,601
4,435
6,715
33,613
330,305
loulsvllli-
37.ii91
.'..
Iowa Central
Kanawha A
Ohio...
Keokuk A Western
A Western
A Nashville
N Alb. A CMo.
UjuIsv. N. O. a Tex
Mexican Central
Milwaukee L. Sh. A West.
Milwaukee A Northern...
Matchez Jacknoii AC
N.Y. Out. A West
Norfolk A Western
Lake Krle
55,011
10t<,5S0
47.809
20.280
4,211
26,534
99,4.30
Northern PaclUo
Ohio AMIsslssippl
Ohio River
252,069
87.209
9,760
16,653
A Evans
'Richmond A Alleghany.
Joseph A Or. Island...
Bt Louis Ark. A Texas...
Bt. Louis A Saa Fran
Texas APaclflo
Toledo Ann A. A No. Mich
Peoria Dec.
21,0.)B
23.218
62,03«
103.146
107.560
17,651
20.778
119.8 i3
51,800
fit.
Toledo
S
406.000
*
A Ohio Central
..
D«r«o««.
•
Paul.
BuffHli) Korli.dc Pittsburg.
O»lro Via.
OlilO
CanwUmi P:\ciBc
Cblc»K<> V Ailantio
Ohio.
Inereeue.
52,959
37,09"
13,527
188,000
39,068
51.127
354,704
01.835
31,231
12.923
207,000
35,817
AttantloA Paolflc
Ctaioa«(o Mil.
1888.
—
.
>
8,876
"5,358
«
249
— January.
1889.
RondH.
>
1888.
9
r-Jan. 1 to Jan. 31..^
1889.
1888.
$
•
119,560
159,973
119,560
156,978
15,123
30,951
15,123
30,931
Lykeiis Valley
88,200
99,342
88,200
99,343
Net... dof 1,457 def. 7,864
def. 1,457 def.7,8e4
West Jersey A Brs... Gross.
82.9.59
85,705
82,959
80,705
Net...def.23,178
1 ,220 def. 23,178
1,390
61,020
W. Va. Cent. A Pltts..Oro88.
37,237
61,020
37,327
Net...
17,740
14,131
17,740
14,131
-Dtcember.Jan. 1 to Die. 31.—
1888,
1887.
1888.
1887.
tt
Rnndt.
$
g
8
Cbes. Ohio A So'w'n. Gross.
183,117 20.7,170 2,000,615 2,001,726
Net...
77,153
75,453
738,878
809,387
P'tWrthADenv.Cy.Qross. 103,109
74,693 1,094,040
719,068
Net...
30,491
30,129
399,579
302,828
Nov. 1 to Dec. 31 > Oross.
227,246
147,860
2months
78,128
s Net...
60,411
Kentucky Central... Gross.
87,194
81,137 1,012,681 1,067,467
Net...
43,148
31,456
483,624
435,353
Lake Erie A Wost'n. Gross. 199,170 161,879 2,107.789 2,087,331
Net...
81,542
57,589
809,940
806,827
Oregon Impr'm't^Co. Gross. 335,.582 371,205 4,876,031 4,167,707
Net...
1232
73,773
990,570 1,166,247
So. P»c. Co. Pao. Syst.Oross 2,826,037 2,484,690 35,117,240 28,459,739
Net..
693,957 786,849 12,420,696 12,437,272
Total of all
Oross. 3,977,693 3,632,809 46,699,614 38,773,147
Not... 1,128,852 1,240,327 15,990,939 15,466,795
South Paclflo BR-North. Dlv. Cal.. Gross.
134,388 137,082 2,085,938 1,727,245
Net...
56,660
51,203
947,339
782,446
Sontb. Div. Cal.. Gross.
540,492 245,895 6,668,600 4,138,399
Net...
117,938 d'f.95,491 1,668,938 1,172,299
Arizona Division. .Gross.
175,551 234,704 2,099,140 1,756,519
Net... def.1,903
98,252
277,236
702,787
New Mexico Div'n. Gross.
86,913
99,937 1,003,638
735,736
Net...
30,729
47,793
307,732
313,409
Oross.
Wabash Railway
521,779 546,796 6,549,848 6,933,692
Net...
38,983 128,345 1,169,661 2,149,334
ft
Summit Branch
Gross.
Net...
Oross.
,
599
19,000
3,451
4,S62
51,2116
3.670
6,41
4,4.2
3
4,334
1,680
1,013
122
500
1,975
2,943
2,425
883
1,815
2,755
3,T64
3P4
9,437
773
492
19,613
22,955
1,796
4,508
8,847
15,367
5,560
355
2,872
23,593
50,779
10,6S1
2,827
3,434
10,747
3,542
8,409
18,171
Decrease caused by almost total cessation of business In November,
tnsequent upon ohauging gauge.
t Figures previously f umisheu us were erroneous.
ANNUAL REPORTS
& Alton
Chicago
5,157
8.311
fFor
'4;784
the year
Railroad.
ending Dec,
31, 1888.^
The Chicago & Alton is always one of the first of tbe prominent railroads whose fiscal years end with Dec. SI to issue its
16,4.50
547
Wiaoonsin Central
56,189
660 annual report. The report is usu»lly devoted to statistics,
mainly giving a full exhibit of the company's operations,
Total (52 roads)
3,097,084 2,757,839
380,168
40,923 earnings and financial condition, but this year President
Hrt Ino roase (1230 p. o.)
339,245
Blackstone has gone more fully into the riilroad situation at
• For week ending Kebruary 15.
the West, and his remarks cover several p'jges of the pamphFor the first week of February 73 roads have reported alto- let report. As an expression of the views of a leading railgether, and the gain is 7*93 per cent.
road officer, directing the affairs of a compmy that has been
pre-eminently successful, Mr. Blackstone's remarks will be
found of much inter^s^, and they are given at length under
1(( week of Ftbruary.
1889.
1888.
Incretue. Deereane.
" Reports and Documdnts " on a subsequent page.
$
*
The statistics of traffic, earnings, income, &%, have been
Prev'ly report'd (58 roads) 3,088,541 2,902.930
285,228
99,617
compiled for four years for the Chronicle, as follows:
Oln. N. O. A Texas Pao..
72,115
62,238
9,877
Wabash Western
Western N. Y. A Penn
Wheeling A Lake Erie
Alabama Gt. Southern.
Kew Orleans A N. E...
Vloksburg A Meridian.
Vloksburg Shrev. A Pao.
Cleveland Akron A Col.
Colorado Midland
Fort Worth A Den v. City..
*Grand Trunk of Canada.
Kingston A Peiubroke
Little Rock A Memphis..
32,119
22,970
12,549
11,229
10,869
27.308
20,524
307,024
2,278
12,933
60,483
86,811
31,272
82,118
.
Memphis A Charleston.
.
•Mexican Kailwav
Ohio ludiuua A Western.
Oregon R'y A Nav. Co
Total (73 roads)
Wet Increase (7 93
*
13,871,143
30,678
13,371
9,401
10,354
9,980
21,152
10,253
282,017
2,871
16,431
37,840
78,029
30,225
68.897
3,586,567
1,541
9,599
3.148
875
889
6,156
10,271
25,007
593
3,498
12,643
8,782
1,047
13,221
388,284
284,576
p. o)..
For week ending February
41,783
2,000
OPEBATIONS AND FISOAX RESULTS.
Operationt—
1883.
1886.
1887.
1888.
Passengers carried..
1,721,286
1,733,549
1,765,196
1,830,535
Passenger mileage. 109,078.875 114,230,157 120,001,687 118,007,585
2 02.'j cts.
2022 ots.
Rate S pass. » mile.
2062 cts. 1-882 Ota.
Freight (tons) moved
3,631,108
3,651,100
4.12 3,120
3,785,160
Freight (tons) nill'ge*338,522,498 560,824,279 641,651,562 533,866,337
0-961 cts.
Ave. rate |l ton V m.
109 cts.
0946 cts.
0-913 ot«
Eamlnga—
Passenger
Freight
MaU, express, Ac...
103,708
Tot. gross earnings
Operat'g expenses—
Maint. o( way, Ao...
Mnintenauoe of oars
Motive power
9.
Xi-ansp'n expenses..
$
$
$
$
2,209.502
3,432,633
351,034
2,311,041
5,392,059
2,474,154
6,070,639
357,539
396,593
2,221,005
4,901,248
389,212
7,993,169
8,080,639
8,941,386
7,511,465
1,599,543
662,067
1,420,268
1,588,025
1,235,217
410,704
1.391,091
1,631,073
5,270,203
3,671,183
58-94
4,668,085
2,843,380
62-14
$
$
1,248,604
562,907
1,388,554
1,412,782
1,337,541
4B0,907
1,355,552
1,476,955
Net Earnings Monthly to Latest Dates.—The tables follow,
Total (inol. taxes).
4,612,847
4,630,955
ing show the latest net earnings reported this week, the
3,380,322
3,409,684
returns for each road being published here as soon as received Net earnings
57-70
57-70
but not kept standing from week to week. The figures cover P.c.ofop.exp.toeam
the latest monto and the totals from January 1, and also the
* Does not luolade company's freight.
totals for the fiscal year on those companies whose fiscal
year
niCOMB AOCOONT,
does not correspond with tbe calendar year.
1885.
1886.
Receipts—
January.
9
9
—Oet.l to Jan. 31
„
RoadM.
3,409,684
Net
3,380,323
1889.
earnings
.
1888.
1888-9.
1887-8.
Baltimore A Ohio—
272,845
282,654
Other receipts.
$
$
9
.
,
.
Lines East Ohio R. Gross. 1,209,805 1,093,274
Net...
305,.577
234,902
Ltnea WeatOhloB.Gross.
356,402 371,495
Net .
2,402
25,868
All lines
Oross. 1,566,207 1,464,769
Net...
Road.
Cleveland A Canton
Naahv. Chatt.
A St.
.
.
307,979 260,770
January.
—
Gross
Net...
L.Oross.
Net...
.
Boad:
Camden A Atl. A
KOtohez Jack.
A
.
1889.
1888,
$
S
.
5,125,364
1,584,967
1,659,674
281,018
6,785,038
1,865,985
July 1 to
5,206,702
1,686,826
1,674,116
304,183
6,880,818
1,991,009
Jan. 31.-.
1888-9.
1887-8,
S
$
20,151
26,533
222,884
227,343
6,710
5,706
•68,873
74,039
293,080 270,806 1,928,345 1,872,441
121,172 112,66i»
803,500
831,8tJO
January.
•-Jan. 1 <o Jan. 31.-1889.
1888.
1889.
1888.
,
s
s
Brs.Oross.
36,041
32,934
Net... def. 9,939 def. 9,221
Col. Gross.
16,558
15,669
Net...
5,438
4,696
»
36,041
9,939
16,558
5,438
def.
»
32,9.14
def. 9,221
15,669
4,696
Total
Disbursement*
Rentals paid.
Construe. equip., Ao.
Interest on debt
Dividends
—
Total disbursem'ts.
Balance
1888.
$
$
2.843,380
273,253
3,692,338
3,940,4^2
3,116,633
701.777
254,134
836.311
1,407,224
710,608
657,444
831,031
1,407,644
92,672
665,455
531,543
825,658
1,407,608
106,924
3,428,086
3,301,632
3,699,399
225,081 siu-.39C>,706 8Ur.211,023
3.337,187
df.420,555
8,653,167
$
704,473
380,702
839.307
,
MlsceUaneous
1887.
3,671,183
269,239
.
1,409,750
93,854
10-2,116
sur.
Lehigh Coal
&
9
Narlgatlon Company.
("For the year ending Dec. 81, 1888.^
The report of Presi<ient J. S. Harris says : " After paying
two dividends, one of 2 per cent, and one of 2}^ per cent, there
remained a balance of $119,916, which was credited to the
Dividend Fund. The Lehigh
Satiquehanna Railroad astern shows larger earnings than ever before, being t5i6,(>6S
&
'
:
THE CHRONICLE.
250
greater than in 1888, which year's earnings have hitherto
been the largest. The revenue from the transportation of coal
shared in the great increase which was common to all carriers
of anthracite in 1888, while that resulting from the carriage
of other freight partook of the general depression of freight
"
*
Our coal production,
tra£Eic throughout the country.
which was 931,007 tons, was exceeded in each of the years
from 1884 to 1886, but the production of the last nine months
of the year was greater than in any previous year except 1885.
There was an almost total cessation of production at the
mines during the first three months of the year, as the strilie
which commence! in September, 1887, continued till the lat
ter part of March, 1888, at which time the workmen signified
their willingness to resume work at the same rates that we
«•
*
*
•
have paid for many years past."
" The construction loan 'account of the Lehigh & Susquehanna Railroad and branches amounted, January 1, 1888, to
|S31,911 24. This account, although bearing interest at the
rate of 7 per cent, has been allowed to accumulate to the Bgure
named as additional security for the payment at maturity of
^310,000 of our gold loan of 1897, which amount repi-esented
the equipment of our railroad at the time of its lease to the
Central Railroad Company of New Jersey, March 31st, 1671,
and the principal and interest of which is assumed by that
company. By the agreement of June 38th, 1887, the pentral
Railroad Company of New Jersey agreed to deposit with a
trust company its general mortgage bonds to a like amount
as security additional to the equipment. This has since been
done, EO that we have now in the equipment and these bonds
ample security for the just-quoted undertaking of that company in regard to our gold loan. After the deposit of these
bonds there remained no longer any reason why the construction loan should not be paid off, and it was extinguished
before the end of the year; the amount standing in that
account on our boobs January let, 1889, which is |128,955 91,
being the sum due by this company for work done during the
year 1888."
Comparative
[Vol.
XLVni.
M—General income account of Atchison for eleven months
ending Nov. 30, 1888.
N— General income account of investment properties same
period.
O—Floating debt in full on Nov. 80, 1888.
P— Mileage
of
whole system.
Q— Earnings of whole system
R— Bonded
1887
and
1808.
debt in detail and annual interest charge, Atchison and whole system.
S
—Taxes and
rentals in 1889.
of total charges— interest,
system in 1889.
T—Summary
whole
taxes and rentals
Brooklyn & Montauk— Long; Island.—The stockholders
&
of the Brooklyn
Montauk Riilroad (formerly Southside of
L. I.) are informed that they can exchange their common
stock for Long Island Railroad stock at par, and their preferred stock on the basis of 130 in L. I. stock for each 100 of
B.
M, preferred.
&
Cairo Tincennes & Chicago.—The Cairo Vincennes & Chicago Railway Co. has been organized on behalf of the bondholders of the Cairo Division of the Wabash St. Louis & Pacific
Railway Company, and the property will be delivered over and
operated under the above name. Mr. Llewellyn Thomas was
elected President.
Called Bonds.— The following bonds have been called for
payment:
Beech Creek.—Five per cent car trust certificates to be
March 1, 1889, at the office of the Knickerbocker Trust
Company, No. 334 Fifth Avenue, New York City, twentypaid
six certificates of $250 each, viz.:
Nob. 261, 272, 281, 283, 286. 291. 305, 307, 308, 300, 313, 321, 337.
340,349,357,373,380,381,385,389,393,397,411,417,420.
And thirty-one certificates of |1,000 each, viz.
Nog. 2,3. 12, 14, 26,27, 33, 60, 66.76, 77,79, 107,110,129,132 142
151, 153, 154, 165, 177, 179, 187, 189, 190, 191, 212, 227, 250, 256.
Sioux City & Pacific— Six per cent car trust bonds of
due March 1, 1898, to be paid March 1, 1889, at the
1886.
1887.
1888.
From railroa<l8 and Nesque. Tunnel. .$1,464,381 $1,533,184 $1,804,783 Columbian National Bank, Boston, Nos. 103, 21.5, 280. 818,
Canals
48,225
43,201 together with thirty-six others whose holders have been per50,248
Jlet profit on LeUgh Coal
135,104
148,452
358,968 conally notified,
statistics for
three years are as follows
:
1883,
IteeeipU—
Boyalty on coal mined hy
revenue from rents, &c., <Sco
leseeea,
Total receipts
80,797
71,302
46,712
..$1,728,507 $1,803,186 $2,253,664
Interest acoount
EentalB, taxes, &o
841,692
263,794
Sfi7,420
89.^,143
264,090
289,606
Total disbursements....
$1,108,486 $1,131,510 $1,1 8^,749
Balance of earnings
$620,021 $671,676 $1,070,015
I4a8 8tnk. fd. of lOp. o.p.tononooa).
$89,419
$61,597
$92,101
liMSdepreo'noaooal.lmpr'v'm'te, &o
98.009
282,002
Total
Borplus for year
Sklancetocreditof dlT'dfd. Jan. 1
„
.„,
Tot^
Dividends
Bate of dividend
..
889,419
$530,602
683,843
$159,606
$512,070
644,037
$374,103
$696,812
646,745
$1,214,445 $1,156,107 $1,343,557
570,408
509,362
576,866
4>fl
Balance to credit of div'd fond Dec. 31 $644,037
4
4ia
$646,745
Canadian PaciQc— A dispatch from Ottawa, Ont., Febru21, said: ''The Canadian Pacific Railway Company has
ary
asked Parliament foj authority to issue consolidated debenture stock to complete its financial arragementa."
Charleston
& Savannah,—The gross and net
1888.
1887.
$554,191
461,118
$495,763
414,152
Charges
$93,073
83,620
$81,611
7?,7ia
Surplus
$9,453
$2,901
Gross earnings
Operatiag expenses and taxes
Net earnings
,
Cnicigo Milwaukee & St. Panl.— The preliminary statement for 1888 is given below, compared with previous years
:
1885,
$766,691
$
GrosseaminKS
Oper. exp.
GENERAL INVESTMENT NEWS.
(mostly pledged).
C—Bonds and ttocks of leased, auxiliary and other companies
owned by Atchison and now
treasury.
G—Due from leased and auxiliaryin its
roads Nov. 80 1888 in
general account, &c.
biUs payable— Details, Nov. 30, 1888.
1-^ Notes and
'
& taxes
. .
Net earnings
Other receipts
Atchison Topeka & Santa Fe.— The full statement showing the financial status of this company on the 30th of November, 1888, has now been published in pamphlet form. The
•whole system is treated as a unit so far as its finances are concerned, without any thought or euggestion of a change in
control or management of any part of it, and hence the earnings of the auxiliary roads or " investment properties " are
given as a total and not each road separately. In fact, the
officers say that it would be quite impracticable, as yet,
to
give the new lines separately, as some of them have only recently been opened, and they would make no fair showing of
Tvbat they could do as earning properties.
Thestatement is analyzed and commented upon in theeditorial columns of tlie Chronicle, and the tables are given at
much
lengthcna subsequent page under " Reports and Documents."
No facta or figur. s of general interest given in the pamphlet are
omitted in the Chronicle, and only those compilations are
left out which are made in extreme detail to amplify
others
given in the general account, and the balance sheets on Nov
of
each of the auxiliary companies. Any one desiring
80
these minutiae can get them in the pamphlet by addres«inl
'
^
the company in Boston.
The statement on subsequent pages can be readily examined
_
in any of its parts by the following index to the
reference
letters (the letters that are missing having
referred to certain
matteiH of detail omitted as above stated):
18T Paok— The General Balance Sheet Nov.
18?8.
B 1— Stocks owned by Atchison in leased and30,auxiliary
roads
and securities held by investment properties that
are
owned by Atchison (mostly pledged).
B 2— Bonds owned by Atchison in leased and auiiUarv roads
^
'
earnings and
charges in 1888 were aa follows:
Total income ....
Disbursements—
Interest on debt
Dive, on both stocks*
Kate of dividend
Tot, disbnrsem'nts
Surplus for year....
1886.
$
24,413,273
14,512.471
24,718,403
14,560,264
1887.
18S6.
s
s
25,366,124 24,867,''30
15,326,694 17,377,353
9,900,802
105,939
10,158,139
144,654
10,039,130
272,825
7,490,377
218,174
10,006,741
10,302,793
10,312,235
7,708,551
6,096,573
2,391,039
6,241,093
3,053,076
6,456,637
7,048,976
3,257,523
540,272
7 & 5
2'a on pref.
8,490,612
1,516,129
9,294,169
1,008,624
9,714,160
598,095
7&4
7&5
7,589,248
119,303
•These are the actual dividends paid in the year, without regard to the
time when they were earned.
Chicago & Western Indiana.— The stockholders of
company have adopted resolutions providing for the issue
per cent bonds to the
this
of 6
amount of $1,000,000, secured by mortThomas and Charles Edward Tracy as
gage to Anthony J,
trustees.
The proceeds are to be applied to enlarging, completing and improving the road, for the purchase of additional
right of
way and
the erection of buildings.
Cincinnati Indianapolis St. Lonis & Chicago—Cleveland
Columbas Cincinnati & Iiidinapolis.— It is said that the
agreement between these railroads provides that the stock of
the first-named company shall be exchanged for preferred
stock of the merger corporation, while the C. C. C. & I. stock
will become a common stock.
Cinn. N. 0. & Texas Paciflc— At Columbus, Ohio, Feb. 21,
the Cincinnati Southern Railroad bill psssed the Lower House
of the General Assembly and becomes a law. The road is
owned by the city of Cincinnati, and the law authorizes the
trustees to extend the lease for such time as may be agreed
upon, not exceeding a period of forty years after the expiration of the exist ng lease, which runs ftr seventeen years.
The minimum rental is fixed at $1,350,000, Tne Sinking
Fund Commissioners are authoiized to extend the $10,000,000
firss mortgage bonds for forty years at a rate of interest not
in excess of 4 jier cent,
Denver
& Rio Grande
Western.
—The gross and net earn*
ings and charges in 1888 were as follows
:
—
FlBRUARY
THE CHRONICLE.
28, 188«.J
1888.
$1,369,892
091,101
Orosa cnrnlnKS
Operating; cxi>cnROil
and taxea
#378,791
283,928
Net earnings
CliarBtis
18R7
f 1,181,321
839,337
$341,987
2(17,700
$lll.Ha.',
Hurphis
$74,227
Hartford & Connecticut Western.— At Hartford, Cf., Feb.
20, the mannf^ers of this railroad were heard before the Railroad Committee cf the I>Kislature on a petition to increase
their capital stock $3,000,000, the amount to be thus used:
f 700,000 to talieup existina; bonds, f 800.000 to build a line from
TarilTville to Springfield and $.500,000 in improvement of
present road in bridges and with heavier rails.
251
Inter State Ratlirar Agsociatlon.— At the flmt meeting of
railroad presidents in Chicago on Thursday, seventeen out oT
twenty-one signed the Interstate Railway A"gociation agreement. The only change in the agreament as printtd wai the
elimination of the proviso that it should only become operative 'vhen all the interested roads had signed.
The signing
of the Wisconsin Central was a great surprise. It was not
supposed that the roid could be induced to become a member
unless the Burliagton
Northern also joined. The roads
which have refused to sign are the Illinois Central, Chicago
&
& Northern, Missouri Kansas & Texas and the
Kansas City Fort Scott & Memphis. It is reported that the M.
K. & T. will sign by order of the court. The agreement takes
effect immediately, and the seventeen road,s have already
Honston & Texas Central.— Counsel are busily engaged in issued instructions to-that effect. Messrs. Hanhitt, McNulta,
taking the nece.^itiary steps for the formation of the new com- Miller and McMullen were appointed a committee to confer
pany. Under the laws of the State of Texas a corporation wi'h Commissioner Walker, who has
been elected chairman
cannot mortgaae its property until sixty days' noiioe has been of the association. It is not yet known whether or not
lie
securitit under
s
given, so that the new
tion can hardly be isauf d before May.
the plan of reorganiza-
Burlington
will accept the office.
A
Kananha Ss OIilc— Iribune dispatch from Colurabns,
Ohio, Feb. 19, said: "Papers were served here today by the
United
States Marshal in a suit asking for the appointment of
$2,78r).0.'j3
2,2()2,087
a receiver for the Kanawha & Ohio Railway Company, which
operates a line between Corning, Ohio and Charleston, W.
$523,966
ImprctvemcDt and equipment
122,972 Va., a distance of 126 miles. Yesterday the Mercantile Trust
Company of New York City filed its bill in equity asking
Balance
$400,994 foreclosure of the mortgage, of which it is trustee, against
Illinois Central.— The directors held a meeting at 314 the Kanawha
Ohio Railway Company. The amount of
Brcadway on Thursday. The opinions of the counsel of the the default is $500,000, consisting of overdue interest, fl »ting
company, Mr. B. F. Ayer of Chicago and Mr. Clarence A. deb^, taxe?, &c. To-day application was made to Judge
Seward of New York, stating that the Illinois Central is, by Jackson, at Nashville, and Robert W. Kelly, of New York,
the terms of its charter, precluded from becoming a party to was appointed receiver. Mr. Kelly is President of the railway
the Inter-StateCommerce Railway Association, having been compiny.'"
read, it wai
Nashville Chattanooga & St Louis.- The gross and net
"Kesotved, That this Board declines to authorize the President of this
oonipany to sign said acreement on behalf of this company and eafnings and charges tor January and for the seven months
approves of his acllou in not Committiug thi.s company thereto,
ending January 31 were as below
"But whereas this Board is now, as it always has been, in favor of
Jamiar/t.
lulu 1 to Jan. 31.J-^
enforcing and maintaining reasonable and remunerative rates and
1889.
1888.
1888-9.
1887-8.
preventing the cuttlns of rates for both passengers and frelclit, and Is Gross earnings
$293,080 .'i!270,806 $1,928,345 $1,872,443
opposed to concessions in bidding for bu-<iness. and is desirous to aid Operating expenses.... 171,908
153,137
1,124,845
1,040,583
and contribute all in its power which it lawfully can do to aceompUsli
the aliove purpose.
Net earnings
$121 ,172 $112,669
$303,.500
¥831,860
"Resolved, That this Board, being thus prevented from,ioining the Interest and taxes.
$72,385
$65,289
$508,833
$436,208
«atd proposed association, is determined to give Its moral support, as Improvements
3,153
8,392
38,375
79,.573
far as may be con.sistent with the best interests of the company, to the
aims .Tnd nbjeits of the Inter-State Commerce Railway Association In
$75,538
$73,681
$545,268
$515,788
the estaMishmeut and maint<;nance of rates, as far as they may confonn to the laws of the various States In which Its roads are located
Surplus
$38,938
$258,232
$316,074
$15,634
and with the Inter State (Jcmmcrce law; and further bo it
New York Ontario & Western. The directors a«ik the
"Resolved, That tile Board directs the President of this conipanv, in
order to eflectually carry out the above resolutions, to notify cverv oll^oer, stockholders' permission to issue $10,000,000 of bonds to bo
agent or employe of this company that if he -nilfully violiites aiiv of the used for the retirement of the existing 6 per cent b)ads,
mies, rates and regulations established by this Board he will be diaamounting in the aggregate to $4,000,000, for such additions
niis.scdfrom the service in accordance with Ijy-law IV.'*
The opinions of Messrs. Ayer and Seward are of some to the property as it is believed will givo a large increase of
remunerative business, and as a reserve for improvements
length. Mr. Ayer's conclusions are that by the charter of the
and addicioas to the road and its equipment in the future. It
Illinois Central Railroad Company the right to take tolls is
is proposed to build from Hincock, N. Y., on the present line
granted in these words: ''The Board of Dirfctors shall have
power to establish such rates of toll for the conveyance of to Soranton, Pa., about fifty miles, and develop coal traffic.
persons and property upon the same as they shall from time Incidental to this is the construction of a tunnel at the "Zig
Zag" necessary for the handling of a large coal tonnage. The
to time, by their by-laws, direct and determine, and to levy
and collect the same for the use of the said company; and I bonds will ba consolidated first mortgage gold, payable in
years, with interest not exceeding five per cent, redeemam aware of no statute now in force in Illinois which en- fifty
able at 105 after ten years. The circular in full will probably
larges the authority thus conferred."
be found in the Chronici.e next week.
International & Great Northern. Receivers for this
New York Sasqnehanna & Western. The gross and net
company have been appointed by the District Court of Smith
eariiings and charges in 1888 were as follows:
County, Texas. A prees dispatch says " Recently Jay Gould
1887.
1888.
filed a suit in the District Court of Smith County against the Gross earnings
$1,395,185
$1,445,900
762,138
821,990
International & Great Northern Riilroad Company for the Operating expenses
Bum of $496,990, and at the opening of the present session of
$633,047
Net earnings
$623,910
the Court, Monday, the company came in promptly and at- Charges
505,610
472,489
tempted to confess judgment for said amount, but tl-e MisSurplus
$127,437
$151,421
souri Kansas & Texas Railway Company and a number of
claimants for damages against the International & Great
Mcaragna Canal.—The bill to incorpirate the Maritime
Northern Company came in as intervenors and asked for a Canal Company of Nicaragua has been signed by President
receiver. At a late hour this evening [Feb. 16] the Court ap- Cleveland and becomes alaw. Officers of the Nicaragua Canal
pointed Hons. T. B. Bonner and N. W. Finley as receivers."
Company say that work on the enterprise will begin forthIt is understood that the interest due March 1 on the second
with and thai; the engineers' fstiraatei indicate the complemortgage bonds will not be paid. The stock of $9,755,000 is tion of the canal in 1895. Its total length will be 160'8 miles,
owred by the Missouri KatJS.is & Texas Company, but was cf which 36 miles are by lake, 84J^ by river and basin navigapledged for a floating debt due the Missouri Pacific, which tion, and 2 j'8 miles by canal.
The longest rock cut will bo
company has been in control of the road through its board of three miles. Total esti-njted cost, $65,000,000.
directors elected last April.
Both the Missouri Kansis
North Carolina Bojds,- In the case of Morton, Blisa
Texas and the MicBouti Pacific want the road as a feeder to Co. , against Roberts, Auditor of the State of North Carolina,
their systems, and a3 the interest will soon be in default it in an action on bonds issued by the State and subsequently
will remain to be eeen how the company shall be reorganized.
repudiated. Judge Bond, of the United States Circuit Courr,
The election takes place in April, and the Missouri Kansas & has, on petition of counsel for plaintiffs, granted a writ of
Texas, owning the stock, will apparently elect their board error
to the Supreme Court of the United States. Tins case
and control the property.
is in some respects similar to other State bond cases from
The following statement for the year 1888 has been given the North Carolina Circuit which are now pending before the
out in regard to Die International &'Great Northen RR
United States Supreme Court, but were passed when reached
Oross earniDg."
$2.^49,227 28 on the regular call until a full court should be silting.
Lessoperatni; expenses (December estimated)..;
2,528,199 04
Northern Central.- The gross and net earnings and
Balance
$421,028 24 charges in 18S8 were as below given :
Add dividends, Ac received
23,93167
1887.
1888.
$6,212,926
$6,203,391
Grops earnings.
Total
$444,9.'»9 !)1
,
4.(39.112
expenses and taxes
4,093.573
OiMjraJlng
Less taxes and miscellaneous expenses
49,068 84
$2,073,484
$2,109,821
Net earnings;
Surplus
$395,891 07 Charges
1,160.8(1
1,169,079
The interest charges were:
$'.41'2,<is8
$940,742
Surplus
Fiistniortgage
$477,240 Dividends paid (8 per oeni)
54a.iUa
571.96G
—Gross and net earning and charges were aa follows
in
1888:
Gross oamtngs
Operating expenses and taxes
&
:
.
,
.
—
—
—
:
&
&
:
,
.Second niiirtg.age....
Colorado Bridge
Total
...„...,.
.'.
423,240
15,750
$916,230
Balance
~~\^'l'or batanct o/invettmeni tttnu
$368,776
Me pagfiOOl Mii" •
ipift^jy
THE CHRONICLE.
252
'^zpaxts
ami
'
[vol.
XLvm.
documents.
ATCHISON TOPEKA & SANTE FE RAILROAD COMPANY.
GENERAL ACCOUNT NOVEMBER
Bee
Btetement
EESOURCES.
Capital.
Detail.
$42,855,654 82
COKSTBCCTiow AND EQUIPMENT, Deocmber 31, 1887
Additions since :—
$199,637 69
3,659,210 48
Construction
Equipment
B-1.
1888.
30,
3,858,848 17
$46,714,502 99
Pekhanent Intestments Property Irf Leased and Auxiliary Roads represented by
Capital Stocks owned
$38,974,257 05
:
B-2. Property In Leased and Auxiliary Roads represented by Bonds deposited as Collateral for A. T. <tS. F. EE. Co. Bonds
37,853,000 00
$76,827,257 05
1/689 Securities in
Bonds
hands of Trustees, as Collateral :—
$37,853,000 00
Btocks: Atchison In Chleago, Par.. $4,998,000 00'
Chicago S.F.&CaI.E'yCo.J4,998^00000Ut Nominal
_„
B-2.
ScNDRT Tbusteeb:
$2 00 37,853,002 00
Collateial with
$40,414,394 50
78,443 29
them
Other deposits
C
$38,974,255 05
$19,996,000 00 J
Total.Par
„
Otuee Investments Bonds and Stocks of leased, Auxiliary, and other Properties
ownedby Company and not included In foregoing; at cost
Equipment Leases Rolling etock being acquired under deferrred payments as
rental; when paid for to be carried to Equipment Account
$40,492,837 79
$126,181,695 83
:
$3,960,606 87
:
1,168,875 00
5,129,481 87
127,147 52
235,720 25
1,523,118 97
1,885,986 74
Deferred.
BUKDBT Advances for Surveys New Lines, Real Estate, Ac, &c., to be ultimately, when adjusted, charged to Cost of Property orto Auxiliary Companies...
Suspended Accounts not yet adjusted
Material and Fuel in Stock
for appUoatlon
Aiunliary Companiti,
Q.
Due proh Sundry Leased, Controlled, and Auxiliary Roads and Companies
Construction and General Account
Due from Auxiliaries In Current Traffic and Operating Accounts
in
$12,53i>,837 27
1,066,132 61
13,602,969 88
Current
Accounts Receivable
* Due from Agents, Companies, Individuals and U.
ernment In Current Operating and Trafllo Account
Bills Receivaulk: Topeka
Cash: Deposits for Coupons
:
B.
Qov$1,709,268 07
2,140 34
Deposits for Dividends
$471,170 50
52,363 50
523,534 00
Treasurer, Topeka
Assistant Treasurer, Boston
$463,422 85
759,047 56
1,222,470 41
Guarantee Fund Notes
3,457,412 82
:
In Treasury, subscribed
for,
6,300,000 00
^
but not yet called
$156,557,447 14
Total Keaouroes
LIABILITIES.
Capital.
Capital Stock
R.
$75,000,000 00
Bonds— Funded Debt
Guarantee Fund Notes issued
Guarantee Fund Notes—Balance not yet called and not yet issued
Bukdrt Subscriptions
$47,933,000 00
700,000 00
48,633,000 00
6,300,000 00
;
311,819 95
Misrellaneous (Net)
Land Department Receipts:
Not yet carried
$123,633,000 00
1,966,330 02
to Surplus
Trustees' Land Grant:
SecuredNotcs
$2,330,791 09
Equicment Lease Warrants:
NotdueuntUDecember, 1889, to June, 1891
i mj
.
1,110,430 00
3,441,221 09
Auxiliary Companiei.
6.
Due to Sundry Leased, Controlled and Auxiliary Roads and Companies
in Construction and Geueral Account
.".'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.'
In Current Traffic and Operating Accounts
$673,864 46
646,966 72
1,320,831 18
Current,
Accounts Payable ;* Due
I.
and Traffic Account
Bills Payable—
Boston
to Companlea, Individuals, etc., in Current
Operating
$2,019,966 66
•»
$3,342,769 89
1,143.782 50—
"opeka
Bond Interest Coupons: Due
Paatdue, not presented
Dec. 1,1888
'."!'."!.
>
4,486,562 39
432,660 00
58,310 50
.1
490,970 60
DiviDENns PA6T-DUE: Not yet claimed
BCRip Cebtikicates
IKTF.KEST
3.
:
Issued, not yet presented
to Nov, 30, 1888, but not
ON BONDS AND Rent.als ACCRUED
AXES Accrued—
52,692 00
195 00
U.
Boeplub: Credit per Ledger Dec. 31,1887
Add Sundry Items applicable to that period
404,862 34
~
129,690 65
For full DetiiU
8,643,304 54
$7,888,620 77
52,00151
$7 940 622 28
'
'
f^nfl QOQ QA
i,ooo,»»»
»*
T
6
see Statements following, refer red to
381622 34
4,'556,'318
Total Liabilities
Not includinc Auxiliaries.)
1,562.927 99
Income and Surplut.
Total Surplus to Dec. 31, 1887
'•"'"'y' *"«'' "''"Ke 'o' Dividends, for period
eievenmonthstoNov.'
Vn' ,^1"J
OU,
looo
......................
OlNERAL Income: Surplus Nov. 30, 1888
BORPLUS Accounts: For Speclflo Purpose* Nov. 30,
1888.".".'.'.".'.'."V.".'.V.'.'.'.V.V.V.'."'
(
*
1,028,375 00
due"!!"!!"
^*'^^%>'*"' eleven months to Nov. 30, 1888, but not due nor payable until Dec,
looB.......
.... ..................
$474 784 84
l«ss further offsets for payments made
..'.".'..'.'.'.'.'.".".'.".'.'...'.".'.
60,922 50—
BINKINO Fund Requirements: Accrued, but not due
>
02-
10,937,940 36
$1567557,44714
by designating
letters.
"
:
FlBRDABT
THE CHRONICLE
28, 1880.]
B.-l.
ASSETS (CAPITAL).
PKRlflANBNT INVESTIHENTS.
Propkrtt
Lkaski)
in
•A. 4P. RR. Co
A. T. .t 8. F. RR. In Chicago.
Cal. Cent. R"y C.>
257.»19 $25,751,900
50,000
5,000,000
6,4.')7,000
64,570
3,04fl,0P0
C«l. SouiIipruUK. Co
301460
Chic. Kivnsa* A West. RR. Co.. 47,363
4,736.300
Chic. 8. R & Cil. K'y Co
15,000,000
150.000
Denver & Santa Fo R'y Co
15,000
1 ,.'i(JO.O00
F. E. & W. V. R'y Co
720,000
7,200
taulf Col. & 8. F. R'y Co
45,500
14,550,000
Kan. City Kiiip. & So. R'y Co..
5<).=i.700
5,957
Kan. City T(>i>. A. Weit. RR. C >. 35.000
3,500,000
Leav. No. Je So. R'y Co
6,410
641,000
Leav. Top. A Si). \Ve»t. R'y Co.
5,509
550,900
Man. Aliiui & Burl. R'y Co
4,186ii2
418,650
Marion & McPhersdn R'y Co.. 13.463
1,340,300
New Mex. & Ariz. RR. Co
36,820
3,082,000
New Mex. .t So. Fiio. RR. Co.. 93,0'20
9,302,000
Now Mexic;m RK. Co
14,558
1,455.800
Pueblo & Ark. Val. RR. Co ... 56,162
5,016,2t'0
Rto O. Mex. A Pai'. UK. Co ... 69,3S0
6,938,000
Rio Grande A El Paso RR. Ci).
2,000
200,000
811. Cy. Dein. A Pac. RK. Co...
7.080
708,000
Bo. Kan. A Pan Handle RR. Co.
:<,009
300,900
St. Jog. St. I,. A 8. P. R'y Co ..
9.700
970,000
St lionis K. 0. & Col. RK. Co
16.000
1,000,000
Bonora R'y Co., Ltd
52,490
5,24>',00O
The So. Kansas R'y Co
13,164
1,316,400
Wlchiia&So. Wcsi'n R'y Co.. 18,24*
1,824.400
Wichita & Western RR. Co
2,250
225,000
$100
00
2
100
3,813.50
201 00
2 00
00
I
720,000 00
00
00
7,982,.500
595,'201
3,600,0a0 00
1
00
69,011 91
418,«.')0
00
1,203,101 00
100
7,090,001 00
100
5,610,200 00
6.H38,()00
00
200.000 00
140,0i;:< 64
100
48,.")00
00
100
2,624,000 00
$113,201,050
Harvey Co. RK Co.. Ist .Mort. Op.
Kan.Cv.A Enip.RR.Co.lst .Mort.
A 8 Ry. Co., 'Jd Mort. "
K. C. E. AS.Uiw.Ex. IstMort. "
K.C.AOIatheRR.Co.,lstMort. "
K. C. T. A W. RR. Co., 2d Mort. "
Kan. Sou. Ry. Co. Ist
irt.
"
L. N. AH. Ry. Co.,2rt .Mort.
"
M. A. A B. Rv. Co., let Mort.
"
M. A McP. Rv. Co., 2d Mort.
"
M. AMcP. Ext.RR.Co.,l8t.Mort. "
The So. Kan. Ry. Co.. GIrard
Ext., 1st Mort.
"
The 8 . Kan. Rv. Co., Har. A
West. Ext., Ist Mort.
"
The So. Kan. Ry. Co., Kan. Cy.
A Ein. Ulv., '^d Mort.
"
W. A So. W. Ry. Co., 2d Mort. "
N. M. A Ariz. RR. Co., 1st Mort. "
New Moxu. RR. Co., Ist Mort. "
N. vr. &ao. Pac.RK.Co.,2dMort. "
S. C. D. A P. RR. Co., 1st Mort. "
P. A A. V. RR. Co., 2d Morr.
"
R. (J. M. A P. RR. Co., Ist Mort. "
R. G.AEl Pa8"RR.Co.,lPtMort. "
N.M.ASo.Pnc.KK.Oo. IstMort. 7p.
K. C. T. A
RR. Co.
6 p.
.
bonds, par...
" ..
•
..
"
"
0.
o.
1.381000
"
••
..
795,000
504,000
508,000
339,000
335*000
130,000
..
..
..
..
..
"
..
135,000
"
..
023,000
"
"
..
..
301,000
265,000
"
"
..
2.313.<K)0
..
"
"
..
1,070.000
3.09i,0O0
..
<
70«,000
..
1,690 000
4,650.000
c.
"
"
"
0.
"
..
.,
500.00i>
1.18.^,000
..
030 000
..
Total bonds as representing propertt in
leased roads...
100
$37,853,000
Other bonds owned, bct not now available:
100 Souora Ry. Co. Ltd. 1st Mort. 7 p. o. bonds, par. $1,018,000
$38,974,257 05
A
A. V. BR. Co.. 2
So. Kan. Ry. Co.
1 Mort. 6 p. c. bonds, par..
H. A W. Dlv. Ist Mort. 6
bonds, par
Trinidad C. A C. Co., Ist Mort. 6 p. o. bondii,
The
80,000
455,000
$100,000®
F(l. 5 p. 0. A. T. AS. F. bonds, piirchaoed
$124.00)®
The Kan. ("y Belt Ry.Co.lat Mort.6 p. c. bdspar
A. T. A 8. F. RR. Ci>. 6 p. c. S. F. Sec. Bonds,
91.000
S.
2 00
purchased .$10,00)
A P. RR. Co. Guaranteed 4 p
$371,000 (Market value Nov. 30)
A.
$93,205,050
Jl-edgercost..
lOO.fKX)
3,50,000
..
p. c.
Par value....
..
..
"
"
"
W
lOA.OfK)
1.109 000
144 000
"
••
'
142.000
..
"
"
"
M
846.000
MO 000
1,907.000
..
"
K. C. E.
1
Totau
p. c.
1,824,400 00
th om as Col atoral for G uarantee Fund .Not««
A. T. & S. F. RR. Co. In Chlca«o. 49,980 8hs. cap. stk. 84,998,000
C. 8. F. A C. R'y Co, 149,980
ghs. cap. stock
14,998,000 19,996,000
(
6
4
"
8tJ.Ht.L.Aa.F.Rv.Co,, IstMort.
Tho9f.r,.K.(;.An.RR.Co.,lstMt!r."
Elk. ACIiaii. KK. Co., Isi Mort. 7p.
P.
Totals
9fo,sM/x>o
L. N. A S. Rv. Co., Ist Mort.
P.
A.V. RR. Co.. 2d Mort.
and AnxiuABr Koads Rkprbsented by
Capital Stock owned.
Sharei.
Par value,
Ledger toil.
Less Boston Safe Deposit &
Trust Co., deoosited with
253
Carried forward
$38,974,255 06
Note.—The Statement annexed shows Stocks and Securities held by
Inve.stinent Properties owned by A. T. A S. F. RR. Co.
* See also Statement C.
t The Atchison Company is entitled to 35,500 Shar.^s
Gulf C.ilorado A
Santa Fc Railway Company Stock additional to the above, when Issued.
Total other bonds
105,242
425,000
10,350
bonds,
c.
296,800
2,561,392
.
Aooregate of bonds owned, but not now
available
$40,414,392
Stocks owned, but not now available:
& S. V. RR. in Ohfc, 49.980 shares Stock. $4,998,000
Chic. 8. Fe A Cal. Ry Co., 149,980 shares Stock 14,998,000
A. T.
BECURiriES
HELD BY INVEST.MENT PROPERTIES OWNED BY
AT. TOP.
Namet of Seeuriliet.
Atchison Union Depot Stock,
9 shares
Beach Hotel A 8. 8. Improvement
Co.
A SAN.
Par
Bonds
Hunnewell Town Co. Stock
250 8hare<i
The Kan. Cy Beit Ry. Co.
Stock, 500 shares
Kan. Cy. Union Depot Co.
Stock, 210 shares
Las Vegas Hot Springs Co.
Oott.
$9,000 00
10,010 00
Bodiue Coal Co. Stock, 170
shares
California So. RR. Co. Stock.
8 shares
Canyon City Coal Co. Stock,
8,oOO shares (Par .$50)
Cher. A Pitts. C. A M. Co.
Stock, 2,000 shares
FE. RR. CO.
vilue.
Prceiptco Can. Water
Stock, 15 shares
Bt. Jos.
Terminal
A
RR.
Stock, 1 .250 shares
The Sibley Bridife Co.
200,000 00) RyCo.
$
The
The
So.
So.
100( RyCo.
50.00060
1,50000
Co.
)
25,000 00
RE.
50,000 00
J
)
S
Kan.
Kan.
K. C. T. A W.
KR. Co.
The So. Kan.
33,629 23) RyCo.
)N. M. AS. P.
184,950 00) RK. Co.
5 L, T. & S. W.
26,383 07) RyCo.
j Cal. Cent.Ry
10,000 00) Co.
10o|c.S.,P.AC.
650,000 00^ RyCo.
5 Cal. Cent.Ry
896 25)
125,000 00
Stock
450.000 00
1
Co.
*«'"'*"'° "^
A
St. J. St. L.
S. F.
)
Co.
C.
J C. S. F.
Ry
00) RyCo.
450,000 00
^^'^'^^^^
A
)
Sibley Br'dge
Co.
}
C. 8. F.
j
A
C.
850,000 00) RyCo.
Th'lr.Van.Ky Co.ofTei«
J The So. Kan.
Shares
604,500 00
395,775 00) RyCo.
T^^u"^-^-^^^
TheSo.
Kan.RyCo. Stock37,JK. C. T.AW.
434 8h9.,and$47 ISscrlp.. 3,743,447
18 3,743,44718) KR, Co.
''*•'**'"
TrlmdadCoal&C.
Co. Stock,
1,625 shares
JP.AA.V.BB.
162,500 00) Co.
182 500 00
'''<•''''*•
$9,07 .',775 76 $7,384,199 68
"nL^f'"'i''o
Central
«„^?"'*
„„
Central Ry
* Improvement
Co. Interest of California
per books, Nov. 3 J, 1888
..:......;: $2,000 00
securities do not appear In general aocount'ot' A. T.
A 8.
P.'RR.'c^r
RR. Co.)
.* Pledged.
p^^
Oott.
Gross Total
$9,074,775 76
$7,386,199 68
L?88 Pledged
1,500,000 00
l,5OO,CO0 OO
Co.,
,
.
Unpledged
ASSETS.
OTHER INVESTMENTS.
BONDS AND Stocks of Leased, Controlled, Auxiliary and OTBKa
Companies Owned by Atchison Topeka a Santa Fb Bailroad Company, and now in Treasury.
Stocks.
Par.
A. T. A 8 F. Rd. Cap. Stock
44 shares ^,400 00
A. T. A 8. F. Rd. Cap. Stock (for
O. C. A S. F. R'y .Stock)
10,000 00
A. T. A 8. F. Rd. Stock in escrow
F. L. A T. Co., N. Y
7,500 00
A. A. Glasl r, acot. Cap. Stock..
12,57120
A. T. A S. F. RK. Co. Cap. Stock
"
4
400 00
Arizona So. RR. Co. Stock
"
1,000
100,000 00
American Cattle Trust, E. W.
Kin.sley.Tru.itoe
"
2,000
50,00000
At.hisou City Elev. Co. Stock . 231
"
23,100 00
Atchison City Uu. Di-p. Co. Stk.
"
9
9,(K)0 00
Kansas City Un. Dep. Co. Stock 210
"
21,<X)!)00
St. Joseph Uu. Depot Co. Stock
"
10
1,OUOOO
Arkansa.s Valley Elev. Co. Stock 975
"
97,500 OO
Aztec lyHud A Cattle Co., I. T.
Burr, Trustee, Stock
"
2,157
215,7(X>00
Top-ka Equipment Co
"
2,550
255,00000
Raton Water Co., Stock
"
500
50,000 00
La Junta Water Co., Stock
"
220
22.0UO00
Osage Carbon Co. W. B. S.,
Trastee, Stock
"
3,000
300,000 00
San Pedro Coal A Coke Co. Sik. 400
"
40,000 00
•
<
25,000 00
$40,414,394
Co.
2C 0,000 00
1
Th*e^s"it!lfy*'S?idge-cbmpany
RyCo.
Cal. So.
(
$7,574,775 76
2
'
able
)P.&A.V.RR
Co.
4,.50u8liarc8
J
J
160 00)
464,125 00
Co.
L.A
Total Securities, tUe property of the
X.'f.ic S. v. KR. Co., held In Irnst as
collateral, and hence not nonr avail-
AaF.
C.
425,000 00
*650,000 00
ThK Sibley Bridge Co. Stock
JO
17,000 00
800 00
Stock. 2.400 shares
240,600 00
Leav. Union Depot Co. Stock
1-7 of $150,000 (say)
21,428 58
Marine Ky. A D. Dock Co.
Stosk. 100 shares
10,000 00
Miss. Riv. RR. A T. B. Co.
Stock, 10,000 shares
l.OOO.OOOOO
-Bonds
JSt. J. St.
$10,330 95? S.FRyCo.
JO. C. & 8. F.
10,000 00 i RyCo.
17,000 00
21,000 00
$19,993,000
St 1CK8— Nominal, for book entry only
Omne'l by.
$.5,836,199 63
Scandinavian
C.
A M.
Co.,
Min. Belt Coal A I. Co. Stock.
A.
B. RR. Co. Bonds
Pres. A Ariz. Cent.R'y Co.-Stk.
M
do
10,000 00
7,500
00
12,57120
337 33
10,853
2a
50,000 00
23,10000
9.000 00
21,000 00
5,500 00
146,250 00
215,70000
255,00000
50.000 00
22,00000
244,150 37
51,250 Oa
W.B.
8., Trustee, Stock
Arizona Mln. Belt RR. Co.—
Dj
Zedaer CotL
$4,400 00
Bonds.
lOO
10,00000
"
"
240
30
334 shares
48
6,00000
24,000 001
30,000 00 5
38.400 00)
48,000 00$
ok
-nnnn.
25,o00
OO
..oo/^/vn
*3.-iOOOO
$1,369,571 20 $1,213,312 19
BONDS.
Kan. City Top. A West. KR. Co. 6 per cent. $893,800 09 $393,800 00
N. Mex. m. Ariz. RR. Co. 2d mort. 6 per cent
960,000 00
950,000 00
Atlantic A Piic. RR. Co. W. D. Inc. Listed..
45.000 OOI
Atlantic A Paciltc RR. Co. W. U
54!>„'i00 00
jKoAoKaa
Atl. A Pno. KK. Co. St'k. W. D.. 9,213 8hs.t
9'21,SO0 00 f *''2,485 68
Atlaniic APacillc KR. Co., C. D. Inc
687,(KK)OoJ
Chic. Kansas A West n RR. Co. Inc. A Scrip
1,(XX)00
],(X)0(X>
Chic. Kan. A West. Ist mort. 5 n.c. & Scrip
2.000 00
2,000 00
Tho8o.Kan.R'yCo.ofTcx.l8tJf..')p.c.ASe'p
eO(X)
60 OO
The So. Kan. R'y Co. of Tex. Inc. Bds.A Se'p
50 00
50 00
California South'u RR. Co. Inc. Bds. A So'p
1,022 45
1,022 45
AU'h. Top. A 8. Fe. RR. O. Coll. Tr. 5 p.ct.
1,500 00
1J500 00
A. T. A 8. F. RR. (3o. 4'« per ct. 8. F. Bonds
2,000 00
1,948 00
Aztec Land A Catile Co. Ist mort. 6 per ct.
80,000 CO
Ti,000 00
Atl. A Pac. RR. Co. 2d mort. at 90 per cent
240,000 00
218,000 0(V
I
B.-8.
ASSETS (CAPITAL ACCOUNrS.)
PEBISANENT IIWBST.nENTS-OONTIlVOBD.
MOPERTV
IN leased and AUXILIARY ROADS REPRESENTED BV
BONDS
DEPOSITED AS COLI.ATERAJ, FOR A. T. .t S. F. RR CO. ISSUES.
C^
Cent. Ry Co., Ist Mort. 6 per cent bonds par.
$6,457,000
"
Keao.
Bea. Ry. Co.
"
"'''• *"«• ^ PS?,;^i*2-^S"uen.
A 8. F. Ry. ??''
Co., Igt Mort.6 p.
<•
270 000
733,000
<•
'W'"!"' par-
c.
bonds, par. 3,106 000
$4,374,732 45 $2,691,864 11
:
:
:
:
THE CHRONICLE.
2o4
Oamed forward
Carried forward
Interest on Guarantee
^J,744<}Oj6s
MiSCELLASEOtrS.
$121,517 97
2o,53o 00
20" 00
8teamsliip"CfttyofTopeka-T3interpSt....
Leav. Nortbern A Soutliern Coal Lands
Co. Fundlup Bonds
Co. Funding Bonds
Dep. In B. S. D. & T.Co. for C. S. KE.Co. Bds.
Oraut
«121.517 97
„ AnS 00
2,000 aa
0,2 37 60
$151,232 97
$155,430 57
f5,893,556 02
AGOBEoi.TE (PAR)-
Notes
Rentals
25,53o 00
2,00000
2,U00 00
Eush
The Company received early in Derember $133,000 00 First Mortgage 5 per cent Gold Terminal Bonds of the Atchison Topeka & Santa
Knilroad
Companv in Chicaso, also $90,000 00 Flist Mort^'age per
Fe
cent Bonds ot the Kansas City Belt Railway Co. but not being on the
books for November (excepting to the e.vteut of their values, as offsetting advances made those companies), have not been Included above.
t See Also Statement B.— 1.
Also Capital Stock, Raton Coal <t Coke Co., 5,000 Shares par $100,
$500,000 00, to be entered in December Accounts at Nominal $1 00.
1,456,253 56
563,193 79
$172,.557 50
129,690 65
302.248 15
Total Fixed Charges
4,513,240 89
Total Profit of the Railro.vd
$619,339 24
EECEIPTS FROM OTHER SOURCES :-
Income from Investments
Sundry Profits in the Period (Set)
General Interest and Discount (Net)..-
$47,338 37
135,261 65
264,057 80
Total Ebceipts.
446,660 82
PHOFrTOFTHE CO.MPANY
o.
Companies in Construction and General Account, Nov. 30, 1888.
Totals per General Account
Construction and General Account... $12,536,837 27
:
Current Operating andTraflio
1,080,132 61
Gross Debit
Less Credits In Similar Accounts
in Special Surplus
Accounts, being Profit earned in Construction of Sundry Eoads by A. T. &
S. F. RE. Co
$1,558,999 94
Profit
&
$7,888,62077
Loss items, applicable to period prior
52,00151
1,1888
NET Surplus Nov.
7,940,622 28
$6,381,62!) 34
30, 1888.
1,381,622 34
Specific Purposes, namely
1,428,306 47
Eenewal and Improvement Fund:
$10,853,832 23
EB.
Co. In Chicago
Advances (reiaid in December)....
K. CiiY TiiPEKA & W. RE. Co.:
Advances Acct. K. City Belt R'y Co.
.".
(repaid in December)
Chicago Sante Fe & Cal. R'r Co.:
Advances for Construction
SiuLEY Bridge Co.:
Advances for Conetrnctlon
Fix)R. El. AWal.Val. RR.Constr'n.
•'
31,
Net Surplus Nov. 30, 188?, as above...
Add— Sundry Surplus Accounts foe
Dr
Keokuk & Sante Fe RE.
Leav. Top. & S. \V. R'r
1887
Add Credit Balance ot Sundry
2,625,0 CO 00
30, '88.
Tot. Burp. Credit to Dec. 31, '87.
follows
P.
SurplusDec.
$13,602,969 83
1,320,831 13
Deduct Amount
& S.
Deficiency for 11 mos. to Nov.
to Jan.
$12,232,138 70
A. T.
$l,0d6,000 06
to the period
No. 35, payable May 15. $1,125,000 00
"
Aug. 15. 1,125,000 00
No. 36,
"
Nov. 15.
375,000 00
No. 37,
dce fkom sundkt leased, controlled and adxiliart roads and
As
.
Charges for Divident)S, applicable
ASSETS (AUXILIARY COMPANIES.)
Balance,
$j, rjs.sSb ij
3,£00 00
Sinking Font) Eeqcirembnts:
Paid
Accrued
(2)
XLVm.
:
Taxes
•
;
$^, rSS,Ofg J9
Leased E'ds of System
(int. on tlieir bonds)..
$3,960,606 8T
•(IJIUGEK COST)
[Vol.
applicable, Cr.$300,000 00
Cli'rg'dlntoNov.30,'83,Dr. 376,310 46
Whole amt.
FiRK Insurance Fund
$218,330 51
$123,630 54
62,353 93
33.968 64
Sink. FuTfD.Acc'TS p.o. b'nds
Canceled Bond Acc'ts
:
Land Grant Mtg. Bonds $70 1, 000 00
Laud Inc. 8 per ct. " ... 480,0 00
88,062 29
19,665 81
77,363 65
14 199 32
ooq 73
.^
13 .=539 19
..
'•
Marion A McP. R'Y
"
The So. Kansas K'r
« &c.
"
Topeka & Western ER.
Sundry Leased Lines and Companies
'
165',921
10
4,80
...
...
...
Suspense Canceled Bond
Account (o's)
178,000 00
299,000 00
618,000 00
578,000 00
33,000 00
Eaton Coal Sink. F'd Acc't.
Construction Surplus
09
44
2,89C>,000
00
16,009 44
:
Net Profit In Construe t'n
AoxUtary Properties
•
Bridges, Buildings, &o., in Process
of Construction
Balances of Cimstruction and Genoral and TralHc Accounts
.St. L. Kan. City & Col. RR. Consi'n.
"
Sink. Fund 5 per ct "
"
413 per cent S. F.
Oprrct. 8. F.,8ecur'd "
Five per cent
4,097,491 40
of
1,428,306 47
266,339 03
4,556,318 03
tot. special sur. accts.
884 46
941,149 85
1 ,700
ATLANTIC & PAiItic RE. Co.:
Lnan Account partly secured)
Contribution Aoc't deduced In Deo.
by$97,659 88)
General Surplus, Nov.
30,
$10,937,940 36
1888
2,1 94.944
(
55
1,001.89430
IV.
'
Total AS Above
$10,853,832 32
7.
LIABILITIES (CURRENT OBLIGATIONS).
NOTES AND BILLS PAYABLE.
At Topeka
At Boston
$1,143,782 50
3,342,709 89
>»?>
HVVESTMENT PROPERTIES
OF THE ATCHISON TOPEKA & SANTA FE RR. CO.
OPERATIONS DURING YEAR (ELEVEN mONTHS TO
NOVEJflBER 30) 1888 OF RAILROAD PROPERTIES
LEASED AND CONTROLLED, THE STOCKS OF
WHICH ARE OWNED ENTIRELY' BY ATCHISON
COMPANY, EITHER DIRECTLY OR INDIRECTLY:
Gross Earnings from Tuaific
DETAIL OF NOTES AND BILLS PAYABLE A3 OF NOV 30^1*
ss" Operating and General
Demand
371,250 00
15 days' notice.. 200,000 00
Ordinary
.800,00000 1,471,250 00
January, 1889
Fahruary,
810,974 76
600,000 00
321,626 13 1,782,876 13
360,000 00 1,170 974 76
254 9(i4 80
8.(496480
3,342,769 89 1,143,782 50 4,486,552 39
Eleven Months to Nov.
30, 1838.
EARNINGS.
.
Or'E^R^T^^VNDGEikRi-L
n4.297.468 80
ExPBSSijs, 67-7 per cent.
9,673,775 17
Net Earks. 32-3 PC.
ADi>-RECEH-TsforTrnBonds of RE.
Co's which fcre ow,.cd
$2,960.447 69
This Deficiency from Operations was met by Advances from Atchison
Company which to the end of the period-November 30— were repaid to
the extent of $1,305,222 62 from Excess of Funds received on account
of Construction.
OTHER RAILROAD PROPERTIES OW^NED JOINTLY
\rirH OTHER RAILROAD COMPANIES.
S4
Oa'? fi'l'J
*i.t>.JJ,bJ3
OTHER THAN R.\ILROADS, LEASED
AND CONTROLLED, THE STOCKS OF IVHICH ARE
OW^NED ENTIRELY BY ATCHISON COMPANY,
EITHER DIRECTLY OR INDIRECTLY, AND
WHICH ARE OPERATED SEPARATE AND DIS-
'PROPERTIES,
Hq
b3
terest on
TINCT.
byA.T. iS. F.ER. Co.
and used em ooUateral
op "A.T.& 8. F.RR.Co'd
Collat.Tr.5p.c.bondfl."
(1)
Net Deficit after all Charges
$999,778 89
3,969,226 53
paid.
Okoss Earnimob raoji Op-
(2)
Net EAR^^NOS
The Total of All Charges, Including Interest on
Bonds, Eentals, Taxes, &c., was
$8,232,642 32
-7,232,863,43
The AtcUson Company has a Joint interest in six different Railroad
Cojopanies, which are operated separate and distinct from the A. T. &
S. F. RR., under dllTerent organizations.
Towards meeting its prdportlon of all Interest, Rental, Taxes and otlier Fixed Charges of these
Properties, for the period to Nov. 30, the Aieliison Company advanced
the sum of $573,281 92, of which the amount of $550,281 92 was re-
»f.
GENERAL INCO.nE ACCOUNT.
._
Exi'enses...
350 qqo
DIEECT FIXED CHARGES.
'
qk mo
.0
13
" *5-^32,586
«,•.
INTBHtST ON BdSDS
(A. T AS. F. If«ae*).
$2,342,797 31
Lena Int. Land Gi^nt IhIs.
:
.
«t.o
The Canyon City Coal Company.
Cherokee <t Pittsburg Coal & Miulng Company.
The Osage Carbon Company.
The San Pedro Coal i Coke Company.
The Trinidad Coal and Coking Company.
Arkansas Valley Elevator Couiiiauy.
The Las Vegas Hot Springs Company.
provided forl^reo'pta
froiiiLu'd.Gr.Tru«tce8.
154,747 92
$2,188.049 39
* Profits from these properties are not carried Into Atchison Company's books until close of year.
:
:
:
Februart
THE CHRONICLE
83, 18£0.J
Carntd forward
rcfiuU to tho Atchlnoii foropaoy of the Operatlons <if ttipso jiroiK^rrlrH for the pflrlod to Novemhor SO, 18-8, iifKir piiyiucnt nf all Charges of
every nature, wits a JliiirpliiB of
The
'PROPEHTIliS,
255
^i,tf4,io8 iH
Ii3,s84,s8i) 79
<'onllii|cenl.
$110^834 11
Investment Propertlee,
ownedjolntly
OTHKR TIIAIV RAILROADS, OWNED
PARTLV
Rallroada
441,329 01
$3,025,918 83
D«durt.
Untoii Coal &. Cnke Company.
The AfhUon City Elevator Company.
HeaiicUnavlan Coal A Mlulim Company.
of Properties
Kail roads
SiTRi't.rs
Result of Opcrntioni for the period to NoTembcr
.'to.
IHSS, Atchison Corupany's proportion, after
payment of all Charges of every nature, wa« a
other than
Surpliiwof
2,991,446 01
74,472 79
Balance, Net Excess of Current
LlabUltios (excluding Material).
$1,837,337 70
$7,840 89
Siiniinnr7«r:TInlrrIaI
and Stores on Hau<l
not iiNed as Oll'sct-
ABSTRACT OF GROSS AND NKT FLOATING DEBT.
ATCHISON TOPEKA & SANTA FE RAILROAD CO.
As OP NovEMBKn
30, 1889.
(Excluding Investment or Aux iliary Properties' A ccounts.J
Accor^TS Payable:
Due to Companies, IncUvidunlsi,
rent
In
Cur-
Operating
and
Traffic
etc.,
.U'counts
Bills Pavable
T, preoedlnc)
Intkrf.st Coupons
Dec. 1, and past due
DiVIDKNDS:
Past due, unclaimed
Scitir Cekthicates:
4,486,552 39
490,970 50
195 00
Indirect
tlnsent.
$7,030,370 55
erations of the period,
but not due nor payable
future
dates,
Bonds and Stocks of Sundry
Properties
in
Treasury, and available as Collateral or
Disposal,
Par, $6,395,550 62 « Cost,
until
namely
Interest on Bonds.Guar.
Notes and rentals
1,028,375 00
Taxes (Balance unpaid)
404,802 34
Sink. Fund rcquirem'ts.
129,6y0 05
3,960,607 87
Investments of Companies owned by
1,t62,927 99
Atclilson
Gross Debt, originating
to Nov. 30
:
Offsets, namely
AccorxTS Receivable:
Due from
Ae^nta,
Company,
Unpledged.
$4,643,304 54
Par, $7,574,775 76 3 Cost,
5,886,199 68
Aggregate lAvallable
Reserve of Unpledged Keciirllies; and of
Companies, Individuals, u. 8. Gov't, and
others in ('urrcnt Oporating and
Trartio
1,709,268 07
2,140 34
1,746,004 41
material on liand In
tlie
Kedncllou of
Payments for Ex-
In operations subsequent to
November 30, of the
A. T. & 8. F. RR. Co. and
System Proper, and of
penses
3,457,412 82
$5,185,891 72
K:?J?JL^'f'''Ji'"tP^'''^--
isoTE.s.— 1. rho Cumpany had on hand, as of November
30, Material
*" ^^ "*®^ '" Operations, amounting Id value to $1,523,i?£ qt""'''J''^^
^"°'<'" "*" lo' l"'en included in above, but which should be
con:
i\A
*® l""' amount expended toward Operations subsequent to
ii„ ^^
s>o\.
JO, and
hence as an offset to requirements to be then developed.
in other wcrds, provision is made, through this material
being in
'e?"<-'t'o;> of payments for Operating Expenses arising sub.«^?.o .5
sequent
to ^ovember 30, and consequent application of greater amount
of Revenues to reducUon of Floating Debt.
,
$3,128,226 81
Current Inveslmonts
of Atelilson C4»iiipany, Unpledged.
TIONB pertaining to Op-
OS Hand
and Con-
Interest of Atchison Co.
For Accrhiso Oblioa-
CA.SII
subsequent
ations
to Nov. 30, Dlreet,
:
Issued, not presoutcd...
Net
Ofl'srlllnK
Floalliie Dclit, but
Provldlus for Oper-
52,692 00
Accounts
BILLS Receivable
above.
ll>e
ou Hand not used
as
$2,049,960 06
(seoStatft-
ment
Bond
Due
tlUK
Atch.Top. AS. Fe RR.Co.
and Hystem Proper
$1,523,118 87
INVESTM'T Pkoi'khties:
Leased and Controlled
Rallro.'wls
1,371,024 53
Jointly owned RRs...
122,912 51
Properties other than
Railroads
111,170 80
Aggre;!;ate
material
INVESTMENT, OR AUXILIARY, PROPERTIES.
LEASEDJAND CONTROLLED RAILROADS.
On Novemiier 30,
1888, the Excess of Current LiabilA
n ,,'-"''*® Properties over their Immediately
Available
Current, Cash Assets, largely incurred in
i-onstructlon, and including all Interest, Rentals,
la.xes. &c., Accrued to that date, but not due nor
payable until December, 18!j8, to May 1889, inclusivo, was (not including as an
offset $1,371,024 53
or JMatenal and Supplies on Hand)
$2,584,589 79
Tlie Excess
Total Net Excess of Leased, ControUed,
and Joint"
Railroads
12,975,034 30
Surplus of Reserve
over Net Floating
Debt, Nov.30, 1888®Co6t,
$11,137,696 60
P.
ATCHISON TOPEKA & SANTA FE RAILROAD COMPANY AND SYSTEM— GENERAL.
GENERAL SUMMARY OF OPERATED MILEAGE OF ALL
THE RAILROAD PROPERTIES AS OF NOVEMBER 30, 18S8.
ATCHISON TOPEKA it SANTA FE SVSTEM PROPER,
<fe Santa Fe Railroad, Main Stem
Kansas City Topeka <5t Western Railroad
Leavenworth Northern & Southern Railway
Kansas City Emporia & Southern Railway
Florence tl Dorado & Walnut Valley Railroad
Marion AMcPherson Railway
Wichita & Southwestern Railway
The Pueblo & Arkansas Valley Railroad
Tho Denver & Santa Fe Railway
The New Mexico & Southern Paclllo Railroad
The Rio Grande Mexico & Pacitle R.iilroad
Milt*.
VIZ.:
Atchison Topeka
OTHER RAILROAD PROPERTIES
OWNED JOINTLY.
was (Atchison Comp.iny's Proportion)
*•' *" "Is*' $122,912 51 of Material
i^^^i''"'",'?'"^
and
BuppUes on Hand)
Investment Railroad,
and other Properties, ®
cost
441,329 04
Deming &
Silver City
$3,025,918 83
PROPERTIES, OTHER THAN
RAILROADS.
Rio Grande
&
18608
48-29
20-15
68-11
oii.ai
"*' '^
Paeitic Railroad
El Paso Railroad
The New Mexican Railroad
The Southern Kansas Railway.
The Southern Kansas Railway of Texas.
Total
470'58
66-32
46-19
84 27
72-73
98-61
130-72
294-16
124-27
372-09
a. T.
&
S. F.
RR.
Co.'s
,.
......'.....
1
y
System Pboper
3,024-50
INVESTMENT PROPERTIES.
74,472 79
Tbtal Net Excess of Carrcnt LlaMlItles
-...-. '"^•'Mment Properties, not Incluolner
Material on IIaiid,asnn olTset.
l"'-parB hie until Decerni.n^ VwS,?"®
bcr,
1888, to .Tlay, 1889, was
$2,951,446 04
RECAPITULATION NET FLOATING DEBT.
ATCHISON TOPEKA & SANTA FE BR. CO., AND OF
INVESTMENT PROPERTIES, NOV. 30, 1888.
Auxii.iARiFS— KOADS Leased and Owned.
Sonera Railway
New Mexico & Arizona RR
Chicago Santa Fe & California Py
St. Joseph St. Louis cfe Santa FeRy
The St. Ixmls Kansas City « Colorado RR
Gulf Colorado A- Santa Fe Ry
California Central
:
Blrect.
Atchison Topeka A Santa Fe RR. Co
and System Proper
JJeduct:
OuarautceFund Notes...
Balance Bubplus
Indirect.
California Southern
RR
Total Owned, Leased and Controllbd..
Owned with
OtukrRR.
$5,185,891 72
0,300,000 00
$1,114,108 28
Jftte».
26909
262-41
87-78
616-70
97-20
61-40
1.058 00
269-09
943-29
210-61
943-29
210-01
6,530^
6,53o"88
66-81
6eH53
44-93
7»-7l
28-40
262-41
87-73
516-70
97-20
61-40
1,05S00
Cos.
Leavenworth Topeka & Southwestern
Manhattan Alma & liurlineamc Ry
The Wichita & Western RR
The Kingman Pratt & Western RR
Atlantic
& Pacitle RR
The Kansas City BeltRy. (Main Track)
Ry
927-1.5
15-37
28-31
22-47
39-85
463-58
7-93
$2,584,589 79
properties are not carried Into Atchison
iJn^?h^!>i?''"".A'"'.*®
pany
s books until close of year.
ABXILIARIE8— Roads Controllbd.
Chicago Kansas <& Western RR
Tlie
"
AtrxiLiARiEs— Roads Jointly
Investment Properties, loosed and
controlled Railroads
Ry
UUa.
Total 0^v^^KD Jointly
Com-
GRAND TOTAL OPERATED
1, 181-09
890-54
7,712*07
7,121'52
THE CHKOJ^ICLE.
266
fvou ibvin.
GENERAL STATEMENT SHOWINO NET EABIVINGS FKOM OPEKATIONS OF THE ATCHISON TOPEKA & SANTA FB
RAILROAD CO.'S SYSTEM -PROPER, AND OF ITS INVESTMENT RAILROAD PROPERTIES, FOR THE YEARS 1887 A\D 1888.
mUeage Dec.
Average
31, 1887, 6,320-63; Deo. 31, 1888, 7.121-52.)
SANTA FE RAILROAD COMPANY'S SYSTEM PKOPEU
&
AICHISOK TOPEKA.
lS88.-(Dcc.
1887.
Pbopebties.
(Actual
Investment Railroad Properties.
...............................
BailroswJs Leaned, Owued and Controlled ..^...
BailroadB jointly Owued with Otlier Railroad Compamea (Atcblson Co. s One-nalT)
Totals.,
Average
est.)
Mileage.
Net Earnings.
Mileage.
AX
2,622-40
$8,604,075 19
3,020-17
$5,143,693 63
2,143-01
1,152-26
2,145,801 46
3.402-14
1,215,490 86
'204,710 24
590-54
Loss. 64,347 48
5,918-27
$10,954,586 89
7,012-85
(,324,837 01
harnings.
R.
ATCHISON TOPEKA & SANTA FE RAILROAD COMPANY'S SYSTEM-PROPER AND AUXILIARIES.
STATEMENT OP FIXED CHARGES FOE ISfXEBEST ON BOND.S AND SINKING FIJND.S, T-lX^s AND RENTALS FOR
YEAR
1889,
PARTLY ESTIMATED.
KXCLDBIVE OF BONDS IS THE TKE,VStJBT AUD BONDS USED AS COLLATERAL FOR BONDS INCLUDED IIERBIN.
Direct Charges against Income of the Atchison System Proper.
Amounts of Bonds.
Wrst Mortga ec. Gold
CoDBolidatcd MortRagcGold
Five Per Cent Bonds
Sinking Fund Five Per Cent
Bonds...
Four and a Hair Per Cent
SlnkluK Fund Bonds*
Six Per Cent Sinking Fund
Secured Bondh*
Collateral Trust Five Per
Cent Bonds. Gold*
Guaranteed Fund Notes
.
Sinking Fund.
Interest.
When
Sonds of the Atchison Top. Dales of
Bonds.
(t Santa Fe RB. Go.
Payable.
Authorized.
Oulsunding.
RaU.
Annual
Interest.
$492,870 00 3.
7,595 00 A.
47,000 00 A.
April 1,1903
April 1, 1909
"
7,500
$1,185,000
$7,041,000 00
108.500 00
940,000 00
7
Sept. 1,
1920
3,775,000
3,444,000 00
5
1880
Oct.
1,
1920
5,500,000
4,532,000 00
1881
Dec.
1,1911
15,000,000
14,277,000 00
6
850,620 00
1887
1838
Feb.
1,1937
1891
15,000,000
10,000,000
15,000,000 00
57,000,000 00
5
6
1750,000 00
420,000 00
1869
1873
1880
July
1880
1,
Nov.
1899 *15.000
1,
T>.
mile.
Note. — Bonds marked * are
secured by Mortgtige
Bonda ot Leased and Aux-
When
Payable.
7
5
172,200 00
203,940 00
When
I'ayable.
&. J.
& O.
& O.
M. & S.
A. &0.
J. & D.
P. & A.
M.& N.
$2,950,225 00
$52,342,500 00
Approximate
Annttal
Amounts.
$35,950 00 Apl. 1
37,0.0 00
77,0.0 00
143,000 00
& Oct.
1
Sept. 1.
Oct.
1.
Dec. 24.
$292,950 00
Boads.
iliary
JJand Grant Mortgage, Gold
(Principal and
Interest
1870
1,1900 $7,500
Oct.
p. mile.
$2,311,50000
$161,805 00 A.
7
&.
O.
oelpts.)
t
Of the Interest on tUe
Collatt^ral
not included with those of the Atchison
Trust 5s, $337,403 00 is on account of bonds issued for auxiliary roads whose enraings and expenses are
to be issued in all, $7,000,000 00.
Comp my.
J Issued January, 1889, $2,800,000
;
BONDS OF LEASED ROADS OPERATED AS PART OF THE ATCHISON SYSTEM.
Direct Chtraes against income of Atchison Syslem, Proper.
•
Bonds of Leased Roads on
Amounts of Bonds.
IntereU is Payable Pates of
by the Atchison Company Bonds.
as and for Mental.
Cowley Sumner & Ft. Smith
RB.Co. l8tmort.,Goldt..
Horence El Dorado & Walnut Valli-y RR. Co. 1st
mortgage. Gold.
Kansas City Emiwria li So.
RR. Co. 1st mort., Goldt..
Kansas City Topekii ifeWestern BE. Co. 1st M., Gold.
KansasCityTnpekaib West
emRR.Co. Income bouds
Gold!
Marion
&
Payable.
Authorized.
Mexico & Southern
RR. Co. 1st murt.
1909
Outstanding.
!,000 per mile.
Annual
Bale.
Interest.
When
Payable.
&
O.
54,260 00 A.
jc
O.
37,240 00
J.
&
J.
59,780 00 J.
<fe
J.
$55,860 OO A.
$798,000 00
Oct.
1,
1877
Aug.
1,
1907'10,000
775,000 00
1879
July
1,
1909 8,000
532,000 00
1875
July
1
1905 13,000
854,000 00
1875
Mar.
1,
1906 4,600
200,000 00
14,000 00 M.
&
B.
1879
Oct.
1,
1909
7,000
713,000 00
49,910 00 A.
&
O.
1,
1909 15,000
4,425,000 00
309,750 00 A.
114,310 00
2,082,000 00
145,740 00 J.
&
&
&
O.
1,633,000 OO
28,840 00 3.
&
J.
,
McPberson BR.
Co. 1st mort., Goldt
Sew
1879
Sinking Funds.
Interest.
When
vjftieh
^Approximate
Annual
Amounts.
When
Payable.
Pacillc
Goldt
&
1879
Arkansas Valley
AprU
RR. Co.
1st mort. (ioldt..
1875
Arkansas Valley
more, Goldt.
Southwesfn ER.
July 1,1905
1878
July
1,
1905
1872
July
1,
1902 15,000
Pueblo
Pueblo
ER.
...
fk
Co. 1st
Wichita
&
Co. 1st mort., Gold,
000
>14,0
J.
J.
J.
lot
guaranteed
412,00« 00
$869,680 00
The Principal and Interest of Bonds marked
f
are guaranteed
$12,424,000 00
by the Atchison Company.
BOKD8 OF THE SOUTHERN KANSAS R'Y SYSTEM, LEASED AND NOW OPERATED AS PART OF THE ATCHISOif SYSTEM.
Direct Charges against Income of Atchison Sgslem Proper.
Vhtlnlertst on these Bonds
"itPayabte by the AtchUon Dales of
Bonds.
Oo. a* and for heiUul.
Kansa* City Lawrence
When
Amounts of Bonds.
Authorized.
Sinking Funds.
Interest.
Payable.
Outstatiding.
Bale.
Annual
When
Interest.
Payable.
Annual
When
A mounts.
Payable.
&
Southern feU. Co. Ist M.
Southern Kansas & Western
BB.CO. 1st mortgage....
Snianer County BR. Go. ist
mortgage
-Ottawa & Utirlln^ton RE.
Co. lat mortgage
The Soulhirn Kansas K'y
Co.. Gulf Divisoii, iRt M.
1879
April
1,
1909
$2,940,000
$2,940,000 00
6
18S0
Jan.
1,1910
2,500,000
1,605,000 00
7
1880
Sept. 1,
1910
300,000
194,000 00
7
13,580 00 M.
1881
April
1909 12,000 per mile.
500,000 00
6
30,000 00
Gold. Principal and iut.
gnarant'd by Atchison Co.
1886
Sept. 1,
mllfi,
4,336,000 00
5
Co. Income bonds
1887
4,000 per mile.
1,480,000 00
6
The Southern Kansas B'y
1,
1926 16,000 per
J.
Mar. 1,1927 $16,000
p. mile.
1,583,000 00
$12.e38.f^00 00
A.
216,800 00 M.
88,800 00
& O.
& J.
& 8.
& O.
<!c
5
79,150 00 U.
$717,080 00
$31,036 57
Nov. 1
9,900 00
Aug. 31
S.
Mayl
$637,930 00
$11,055,000 00
1887
112,850 00
1
The Southern Kansas B'y
Co. of Texas. 1st mort.,
Gold. Principal and Int.
guarant'd by AlohUon Co.
$176,400 00 A.
$40,936 57
&B.
$10,936 57
Fkbruart
THE CHRONICLE
28. 1*^9.1
BONDS OF AUXILIARY ROADS
WnOSli:
EARSINO? AND KX(>K.V9E3 ARE NOt INCLUDED WITH THO^K OP THE ATCHISON Oa
Itutirtcl G/ujrget agatnil
Dibt
laUTUl.
Payabie.
Anthorizs'l.
Atohlann Tupokn
AUhUon Company.
Amounl$ of Bmit.
When
of
Boiuti of Auxiliary Koadt.
257
Outitanding.
Bolt.
Binktng Fandt.
Anit'iaf
Inlerat.
ir*«n
Poyablt.
Apprtaimale
When
Annual
Amounl:
PayabU.
$25,000 00
May 15
Santa
ifc
KeKK.
Co.ln(:liica(?o- Ist
(JoUl.
Prlni'liial imcl Int. «iiar-
mortK. (rermlual).
1
$10,000,000 00
$5,500,000 00
5
$275,000 00
J.
4
1937 35,000 per mile.
15,350,000 00
5
787,500 00
J.
*J.
Mar. 1,1016 10,000
1,500,000 00
6
1,
1926 10,000
2,081,000 00
6
124,860 00 J.
1,
1926 14,000
13,284,000 00
5
66I,i00 00
J.
1679
July 1,1909 12,000
12,696,000 00
7
838,720 OO
J.
1885
Oct.
1,
1923
8i064,000 00
6
483,840 00 A.
&0.
1880
Jan.
1,
1910 20,000
4,050.000 00
7
283,500 00 J.
&
(^o. ...
1887
Jan.
1,1937
Cilifornia K'y Co. 1st iiiort.KOld.
Priiiclpul (iiul int. Kuaranteiil by .\tchlion Co...
1887
Jan.
1,
1885
1886
Jan.
18^6
June
antpwl
Atchison
liy
ClilciiKi) Haiita I'e
Chicago
*
iK ft. I,oiiia
J.
K'y Co.
lltniort. Not uaninteod
by AtohifonCo
i
Co. l8t. mort. Ko'.d. Principal anil liiU-re.st ^'usrantecd liy Atchison Co
ChlcaKo Kansas
RR
& Wo»tom
&J.
Ist mort., gold.
Co.
Principal and
—
Kuar-
Int.
anteed by Atchison Co
Onlf Colonido & Sania^'e
R'y Co. l8t niort.. Gold.
Principal and
&
Principal and int. as'iu'd
by the Atchison Co
Sonora R'y Co. (LUl.)
1st
Interest
by Atchison Co.
8,000
&J.
Gold.
gnaraufd
D.
assu'd
Int.
by the Ati^liisDn Co
Oulf folonulo <fc fantaFe
R'y Co. 2(1 mort. (Jold.
niortg.,
&B.
90.000 00 M.
RK.
Southorn
CaUfornJa
Total ok all tub Forrooing, exclusivk of land
Grant MoiiTGAGK
Income Bonds.— The Int.
OF WUICir IS NON-CUMU-
J.
$62,525,000 00
.$3,577,620 001
$25,000 CO
139,929,500 00
$8,114,605 00
$359,886 57
Axi>
Payable
I.ATIVE
ONLY WHEN KARNE1>
RR. Co.
California Southern
Chicago Kansas
&
1S86
Mar.
1,
1926
1686
June
1,
1926
02
$3,494,000 00
6
209,640 00 M.
7,000 per mile.
6,510,500 00
6
390,630,00
i?3,'i05,000
Western
RR. Co
&
May
8.
600,270 00
$10,004,500 00
$50,000 00
I
$50,000 00
BONDS OF R0AD3 OWNED OR CONTROLLED JOINTLY WITH OTHER RAILROAD COMPANIES.
Oonlingenl Liabilities of the AleKiion Company.
Bonds if ICoadt owned or
conlrolteil
Joi-.tly
o herliail oaU
toilh
C.mjanut
Leavenworth Topeka
Wes'cra K. way Co.
<fe
I
Amouyi ts of Bonds,
„,
r,„,.,
Sinking Funds.
Interest.
When
\""'^^°J
""""^
Payable.
Authorized.
Oulnlandiiig.
Rate.
Ant\ual
'
Interest.
When
Payable.
ippn ximale
Annval
Amounts.
When
Payable.
So.
Gen-
eral Mortga-e. (iold. Total
Issue,
!f 1.380,000 1/0,
Prindiil and iutt-re^t of
*t;90,000
(10
of
tlie
Bonds
guaranteed by Atchison
Company
Wichita &Wcstein RR.
Kingman
I'ratt
1882
July
1884
Jan. 1, 1914
1.
1912
$1,500,0C0 00
$590,000 00
&
J.
23,730 00 J
&
J.
478,000 00
28,680 00
J.
A
J.
8,802,0:0 00
352,080 00
J.
&
J.
594,500 00
35,670 OO
$27,600 00
J.
Co.
First M<»r f^a.s^e. Piinolpal
and lutcrest of all ti e
bonds giiarauti ed by Atchison Co. Piopcrly being
jointly owned, one-half
the amount is here stated.
25,000
p. niile.
395,500 00
&'West»-ru
I
KR. Co.
First .Mortgage.
Principal and Interest of
all
the bonds giiarantecd
by .\ichlson Co. Proiwrty
being jointly owned, onehalf the umouut Is here
18i6
!july
1,1916
25,000
1887
Jao.
1,1937
20,000,000 00
1871
Nov. 1,1991
30,000
1887
Sept. 1,
1907
10,000
Atlantic 'i'Paciito RR."Co'.
Ouarantecd Trust
Gold
Bonils rotal issue, 1$17,604,(X)0 00. Principal
and inriipst guaranteed
scvcra'ly, but not Jointly,
each one-half by the Atchison and »t. Louis ii rian
Francisco Companies
Atlantic .fe Pacific RR. Co ,
Central Dlv!8iou, First
Mortgage, Gold, Not guaranteed by Atchison Co.
One-hair
Atlantic & Pacific RK. Co.
p.
mile
H.&N.
Second
.Morig.igo, 'iold.
Total issue, *5,«OO,O00 00.
Principal
and
interest
guanmtced
scvcrallr, bnt
not Jointly, each one-half
by tue Atchison and .St.
lx)ui« & San Francisco
Companies
2,800,000 00
1*13,760,000 00
IT
Includes $24,000 00 deposiUsd with MoroantHe Trust Co.,
Bonds outstanding.
,t
168,000 00 M.
U
($635,760 00
New York, to be exchanged for the Western Dlyllon, First Mortg.i ?e
The yearly sinking Fund
of $105,000 does
notoommenoe nntU Maroh
1,
1890.
per cent
:
:
: :
:
THE CHRONICLR
258
[Vol.
XLVin.
s.
MEMORAXDUM STATEMENT OF TAXES AND RENTALS FOR YEAR
TOTAI,*
1889.
Propor-
ATca. Top. & 8. Fe RR. Co.
Amount.
tion.
'^AtcUison Topeka
& Santa Fe Railroad and System
Proiier
$670,000 00
.
Company
The Kansas City Belt Railway Company
•
406,734 00
$309,000 00
CO
$273,000 00
$1,13'',734 00
$273,000 00
00
00
ro
00
120,000 00
5,000 00
$7,000 00
^2
la
5.500 00
3,850 t'O
7,350 00
5,000 00
3,500 00
hi
60,000 00
2,500 00
436,266 00?
14,000 00 >
J
(
\
218,133 00
7,000 00
84,200 00
$228,633 00
$1,305,134 00
$730,266 00
$1,220,934 00
$501,633 00
Benlals Receivable, Due Atchison Topeka & Santa Fe Railroad
From St. Louis & San Francisco Railway Company
Atlantic & Paciflo Railroad Company
Company
$8,000 00
14,000 Ot)
7.00.)
00
7,000 00
$i6,000 00
Total
;
C
$457,266 00
Leavenworth Topeka A- Southwestern Railway Company
Colorado & Midland Railroad Company
\
32,000 00
$168,400 00
Total Contingent.
Direct, Indirect and Oontineent
00
28,750 00
$309,000 00
11,000
7,700
14,700
10,000
.
248.2.50
$1466,734 00
.'J!l,136,734
Leavenworth Topeka & Southwestern Railway Company
The Wichita & Western Railroad Company
The Kingman Pratt & Western Railroad Company
Manhattan Alma & Burlingame Railway Company
00
00
00
00
00
00
00
00
00
00
32,000 00
IgO.OOO
11,000
4,486
80,000
16,000
5,248
Direct and Indirect.
Railroad
10,000
83,000
36,000
36,000
180,000
11,000
4,486
80,000
16,000
5,248
Cr.$36,000 00
00
00
00
00
00
00
00
3(;,0()0
Indirect
& Pacific
$670,000 00
f248,250 00
;28,750 00
36,000 00
Sonora Railway Company...
Atlantic
00
S-8,1100
CalifoiTiia Southern Railroad Company
California Central Railway Company......
Tlie Clii.ago KauRas & Western Railroad Company
8t. Joaepli St. Louis & Santa Fe Railway Company
Tde St. Louis Kansas City & Cilorado Railroad Company..
Gulf Colorado & Santa Fe Railway Company
New Me.xico&.Viizona Railroad Company
Total
00*
10,000 00
Ato"on Topeka & Santa Fe Railroad in Cliicago
& California Railway Company
Cliicago Santa Fe
Total
Cr.i(!36,000
Rentals.
Tazee.
Jientals,
Taxes.
$39,000 Annnal Payment to Atchison Tooeka & Santa Fc Railroad Company not included.
Yearly amount $69,000. Contract with Southern Paciflo Company terminates May 24, 1889.
T.
SUMMARY OF FIXED CHARGES FOR INTEREST ON BONDS, SINKING FUNDS, TAXES AND RENTALS FOE YEAR
18S9.
Atchison Company's Proportion.
Interest
on
Bonds.
Sinkhig
Funds.
Taxes.
Totals.
KetittJl,
Direct
& S. F. RR. Co. and System Proper (omitting Interest on Land
Grant Mortgage Bonds payiable from laud receipts, $161,805 00)
$4,936,985 00 $333,886 57
A. T.
Indirect
Auxiliary Companies Leased
and Controlled by A.
T.
Couiingeut
owned
jointly with other Companies, A. T.
liabilily as gaaran or one-half
Eiiads
&
&
S. F.
RR. Co...
8. F.
RE.
all
25,000 00
670,000 00 ^$36,000 00 $5,504,871 57
466,734 00 309,000 00
4,378,354 00
228,633 00
948,593 00
Co.'s
84,200 00
685,760 00;
Grand Totals
Add— Direct
Interest oq Equipment Lease Warrants, 6 per cent on $1,445,660.
As^regate of
3,577,620 00,
$8,750,365 00 $358,886 57 .$1,220,934 00:$;01,633 00,$10.831,818 57
86,739 60
€barseH
$10,918,558 IT
f Credit.
CHICAGO & ALTO N RAILROAD.
PRESIDENT'S REPORT.
The President of the Chicago & Alton Railroad, Mr. T. B.
Blackstone, makes the following general remarks in his
annual report:
The net earnings from traffic on your lines last year were
less than in any year since 1879, and the earnings "on other
railroads in the West were rtduced in most cases even more
than in yours.
This result, with continued general prosperity in all commercial and agricultural intertsls served by the railways
seems to call for a biief review of the causes which have led
to
it.
Nearly
all the unfavorable conditions attending that
result
be directly or indirectly traced to State or Congressional
legislation relative lo constructing and operating railroads.
Your company was organized in 1861 under the provisions
of a special charter which grants authority to its President
and directors to " fix the rates of toll in the transportation of
freight and pa.ssengers over its railroad,"
At that time, and for several years thereafter, no one sunposed that this grant of authority to "fix rates of toll"
was
subjfct to conditions or reservatio; s other than common
law
obligations; as, for example, aU "tolls" must be
reasonable
and must be pqual in all cases under like circumstances
and
conditions, end other rules of like character to
which common
carriers had been subject for centuries.
While it can lot be said that the State, in granting
your
charter pledged Itself in terms to afford the
protection to
your interests which would result from limiting the
number
of competing hnes to such as the true interests
of
might require, it was beheved that such reasonable the peoole
may
prot^tion
•would be given as a measure of security for
all-for
uopuouc
public
"» the
as well a.s shareholders.
Such protection has been given to railway
investments in
flomeo the Eastern States and in other countries
where ah
new railways proposed are the subject of
governmentalii^^
quiry, and are only authorized when they
are need^ by peo"
pie
who
are not
already provided with adequate railway
facilities.
When as many railroads had been constructed in the most
densely populated of the Western States as were needed, and
competition began to control and reduce rates for transportation; when, in other words, the true interest of the people
served by your lines demanded that no more railroads should
be consiracted— until needed, the opposite course was pursued.
General laws were enacted which authorized the organization of railroad companies without limit as to
each company,
when
number, and
organized, had authority to locate its
line in its discretion and construct its railroad without regard
other
than
its own.
to interests
This opened a tempting field for speculators, contractors
and brokers, who vs'ere prompt in constructing railroads
which were not needed. In many cases such roads served
the purposes of those loho ijromotedthem while under construction and have since deprived the older lines of traffic
which they need for their support, and have also seriously
complicated the railroad problem.
The evil effects which naturally followed this unwise policy
led the people to seek a remedy by legislation and the employment of Railroad Commissioners who were required to reduce
rates under circumstances which rendered an advance of
rates necessary, if the numerous roads which the people had
caused to be constructed were to be saved from bankruptcy.
Railroad shareholders are not represented in Western Legislatures; they have no voice in the enactment of laws under
which their property is controlled, and are not consulted in
the appointment of Railroad Commissioners, who, under the
law, may honestly serve the people by complying with their
wishes even to the extent of confiscating railroad property.
It would be no more than fair to give the railroads in the
West authority to appoint one-half of the members of each
State Board of Railroad Commissioners which should be
constituted as a Board of Arbitration, with provision for aa
umpire when its members are equally divided upon any question relating to railroads.
have no reason to doubt the honest intention ot any
man who is, or has at any time, been a Railroad Commis-
—
—
We
—d
Februaet
THE CHRONICLE.
28, 1180.]
—
but Commisaioners are appointed to use a common
expression—" to protopt the interest of the people." In view
of what hoa transpired, in some caseH it would appear to be
more nearly correct to say that the object of their appointment is to secure to the people such railroad service as tliey
may demand, under such regulations as they may tliink proper,
andf for such compensation as they may be wilhng to pay.
The posi'ion of a Itailroad Commissioner in the West is not
such as permits him to act independently, as his judgment
may dictate. Ue must reduce rates wlien the public demand
reduction, and he is often reminded that such is his duty. We
believe that without exception, the Commissioners have been
disposed to deal as fairly with railroad interests as they have
been permitted to do by the people whose servants they are.
No railroad has been constructed except under authority
conferred by the people, and it must be atsumed that the people have never permitted a railroad to be constructed by their
authority without intending to permit its managers to collect
such charges for transportation over it «s might be found
nec-ssary to pay operating expenses, and at least a small
annual revtnue on capital actually invested.
Has this been permitted since rates have been limited by
the people, acting by their agents, the Railroad Commissioners, and can rates be reasonable which are too low to produce that result on the griat majority of the railroads?
Perhaps the best answer may be found in the results of
railway traflic under Commissioners' supervision and direction
sioner
;
as to rates in Illinois.
To avoid extending our inquiry farther than
is
necessary
for the purpose of answering the question stated, we will
limit it to the first twelve years under Commissioners' rule,
and to such railroads as were to be found during that period
in connection with, or crossing your lines in Illinois within
two hundred miks of East St. Louis including yours
—
259
neoenity to obtain money to meet current operating expense*,
nnjust discrimination did not sometimes occur. Tbis condition of railroad affairs has led to the enactment of Iaws b.r
State Legislatures and by Congress, under which nearly ail
authority originally granted to railroad companies relative to
making rates for transportation has been practically taken
from them. Itates can now be made under the direction and
subject to the approval of Railroad Comminsioners only.
For years the question of reducing charges for railroad
transportation in the West has often been a political one, and
the cause of considerable competition among the active politicians, all of whom, it is hardly necessary to add, have taken
the affirmative side of the question, while the Western sharenumber to one for each county,
holders, being about equal
have, of course, had no political influence. Within the last
few years a spirit of rivalry has been manifested by State
Legislatures each State apparently intending to secure rates
on railroads within its jurisdiction which Bhall be lower
than rates in adjoining Stites.
Western L'-gislatur. s and Railroad Comraissionars have,
step by step, reduced the maximum rates which railroads are
permitted to charge, until such rates are now lower than are
charged on railroads in any other part of the world on which
no larger amount of traffic is found, and this has been done
where prices for labcr and supplies required to maintain and
operate railroads are higher than in any other country.
Legislation which destroys the value of railroad property
must soon result in immense harm to the interests of the
m
—
public.
statistics given in Poor's Manual for the year
the latest compilation attainable, toe value of
the railroads in the United States is neailynine thousand mil-
According to
1887,
which
is
lions of dollars.
The net revenue d^ri ved herefrom averaged 3 40- 100 per c nt
or 3 18-100 per cent on stock and 4 55-100 per cent on Bonds
During that period of twelve years, twenty of the twenty- and Debt.
recent report of the British Board of Trade
four railroads referred to were forced into bankruptcy, as shows that the average profit on all cipital invested in Engfollows: Five of them within one year, three within two lish railroads in 188T was 4 08-100 as compared with 3 40-100
years, four within three years, one within four years, three per cent in the United States and that the capitalization per
within five years, one within eight years, two within nine mile of railroad is four times as great in England as in this
yea's, and one at the end of twelve years.
country.
The territory referred to, we believe, is unequaled in ferDo these facts show that the railroads in this country are
tility of soil, coal deposits, and other resources, by any other
earning more than they are fairly entitled lo ? Are thq railof equal extent in the United States, Ot'ier railroads have roads earning a larger profit than bu-iness men to whom their
been constructed in the State during that period, and service is indispensable ? Do they earn as much as the law
later, which have met the same fate.
Can it be possible that allows as a reasonable rate of interest for money loaned on
rates which produce such results are reasonable?
good security? Should they not be permitted to earn as
Rates fixed by the Commissioners in all the Western States much as the legal rate of interest on mon^-y loaned, if they
are now lower than the rates were under which many roads can fairly do so; while the law gives them no guarantee that
have been forced into bankruptcy as already stated.
may they shall earn anything ?
well fear that like causes will produce like results.
Experience has demonstrated in other countries .as well aa
Western railroads are compelled to sell their services at in the United States that agreements between competing
such prices as may be fixed by the people they serve. Slaves common carriers (called pools) do not prevent competition
in the South served their masters on similar terms.
But the within reasonable limits, or lead to rates unreasonably high
law dealt more kindly with the elave. His master was re- but do tend in some degree to prevent •'railroad wars" and
quired to support him.
rates ruinously low, such as so often prevail in the absence of
It may be urged that the railroads still have some rights such agreements, and do in many ways afford protection to
before the courts in the matter of rates. The recent decision the railroads and the public.
by the Supreme Court in Minnesota would appear to be conIt is not claimed that such agreements will obviate all the
clusive on that point, unless overruled by the Supreme Court evils which result from building too many competing railat Washington, and it is not probable that it will be over- roads, but they are the best remedy that has been discovered
ruled by that court under 1 iws now in force.
in this or any other country, and will obviate many of them.
In the several decisions of the Supreme Court of the Unit?
In Germany, where about three-fourths of the railroad-i are
States relative to the authority of railroad companies to estab- owned by the Government, it has been found impossible to
lish rates for transportation over their lines, it has been held arrive at satisfactory results without pooling the Governin sibstance even in cases in which such authority has been ment roads with those owned by individuals.
la France the
given by special charter that although such charters are con- same object is attained by a division of territory between the
tracts, they are such contracts as the States may disregard several lines.
when they see fit to do eo. In other words, one party to such
In England all roads unite in a "Clearing House Associaa coatract can be compel'ed to conform to its provisions, and tion," which is managed by representatives of the several
the other the State may do so or not at its pleasure.
lines, and is chartered by the Government.
The right to use the property of another upon such terms
The division ot competitive traffic on European railroads has
as the party desiring such use may see fit to concede, is and been authorized, and in many ca-tes required bylaw, after exmust continue to be, until the Millenium, in most cases very periments in many other ways for years.
nearly, if not quite, equivalent to confiscation.
division of such traffic by what we call pools— by a divOne of the results which must follow building competing ision of territory, or in some way which is the practical equivrailroads which are not needed, is the necessity for higher alent of a pool is, so far as we caa learn, conceded in all
rates for transportation than would have been required if other countries to be necessary for the prot-ction of the public
sucli unnecessary roads had not been constructed.
should not the people in this country profit by
interest.
The popular belief has been and stUl is, apparently, that the the experience of people in other countri-s? In this country
more competing roads the less transportation will cost. the Inter-State Commerce Act declares all pooling agreements
That the ix)licy of the people which appears to ba unlawful. This restriction and others contained in the Interbased on that belief has led to the construction of State Commerce Act were all that were necessary to be
too
many railroads and forced many roads into added to those imposed under Stata laws to produce the
bankruptcy is true; and it must continue to produce such chaotic condition of affairs which has existed for the last
results until changed. If, as has been decided by the Supreme year, alike unsatisfactory to those who have invested their
Court of Jlinnesota, the people may enforce by the agency of savings in Western railroad property and to the public.
Railroad Commissioners rules and rates which practically conFor the present disastrous condition of railroad affairs in
fiscate railroad property, and that for such legal robbery the West, your company has, for the last fifteen years, con" there is no remedy," the fact still remains that a given tinued to make the best preparation in its power, and espeamount of transportation within the capacity of one road cially during the last ten years, in which it has appeared
costs more when two or more competing roads are employed, inevitable it has steadily resisted all inducemsnts to add toand the persons desiring such transportation must ultimately ils system of lines or increase its obligations for any other
pay at least what it costs. Notwithstanding the fact that for purpose.
a limited time the completion of a competing railroad genYour company has, each year, expended large sums for
erally leads to ruinous competition, and gives the people the ballasting its roadbed in the most substantial manner, whichbenefit of reduced rates.
With more railroads than the com- work is now nearly completed. It has substituted iron, steel
merce of the country needs, with many of the roads strug- and masonry for wood in its bridges and culveits. It has
gling to maintain their existence, with sharp competition and made many important improvements incurves and grades..
rates below actual cost of transportation in many cases, it It has made additions to its second main tracks and side tracks
would be strange indeed if under the resulting pressure of and to its rolling stock, and in many ways improved tlie
I
twenty-four in number.
A
;
We
;
—
—
—
—
A
—
Why
:
—
—
XLYUL
[Vol.
THE CHRONICLE.
260
.
in
prevented by legal restrictions from participating
m
comtton with others in the remarkable increase the
-especially
value of property which has occurred
without rail-West— which would have been impossible
cannc)t be withdrawn and
roads. Investments in railroads
w;holly upon the right to
the value of such property depends
rates fixed
colkctreasonable rates for transportation. Whether
question which
ueople are reasonable or unreasonable is a
s
m
luai. f
poratiODS which consinicieu
and Alton and operated »»
bv the
,assed from their
"''/jiV^^^'d^e, the original
Lliet
:«.
has in effect decided is
the Supreme Court of the United States
which should cause
not within its jurisdiction. It *« ^ fact
with shame, that
every honest citizen of our country to blush
people, and for
under our " Government of the people, by the
wBole people are not
the people," the property rights of the
our duty to call your attention to the facts we
and we hope that your influence will be exerted
secure such relief
in such manner as jou may think proper to
shareholders
railway
public
and
the
of
interest
common
as the
Board,
of
the
order
By
demands
aemanos.
y
President.
^"^m
think
have
stated,
it is
^ ^ BLACKSTONE,
for the
theoriginal cost of your
Ballreads In New York State.-The reports below
^^TvT^certain the diflercLce between
your
which
filed with the Railroad
been
for
have
bonds
31
Dec.
and
ending
stock
of
quarter
.,Jnpftv and the amount
f 72^ 000 should be CommiBsioners:
gZpa^^y te res^nSble, now outstanding,
y. r. Chic. <e si. l.
^yianhallan Elevated.—^
the amount of
1887.
the amount above stated, being
1888.
1887.
18S8.
canceled, in
and
paid
since
$1,41.5,981
Bonds
Fund
$1,274,545
Rridce and Sinking
*?'?2H??
?2,2?S'???
1,020,235
issued; making a Gross earnings
been
1,035,381
have
1.1/6.957
bonds
7.741
or
^ock
1,21
expenses
which no
Operating
excess of original cost over present capi-
—
,
idSHo
Sof
total of $11,750,000
Net earnings.. .,$1,088,245 $1,060,082
21.671
30,509
estimate we are Other income
accurate
mcst
the
from
that
**We*m8y add
1,031.753
its present condition, could
$1,118,754
Total
<.»,lB tn make vour propel ty, in
whiih would be equaUothe
$384,164'
not now TreprXce^ for alim
$384,164
issued by your Company inurl^t'r
bonds
and
stock
114.192
of
total
Taxes
^°?xS^
5.000
obligations it has assumed, and fifteen Bent»le,4o
5.000
the
ouManding,
now
^ount
mUlions of dollars added thereto.
owner of the St. Loius
Since vour Company became the
exchange of shares
J^ksonville & Chicago Railroad, by the
shares of
ofst^under the coStract dated April 14, 1884, nobonds
have
contiact, and no
stock, except as required by that
$.-103,356
- $558,227
Total
BalWiMV.".... 8ur.$560,527 8r.$578,397
^Y. r. Out. a Went.—.
1887.
1888
2.1S9
$395,746
240
$221,303
$395,986
$219,164
$194,560
30.803
20,101
$200,000
26.490
20.377
$246,867
$245,467
$24,164 6T.$149,119
del.
r-Bome
Tf. <«
1888.
OgdeiiM.^
1887.
'1^
'^li^
*i^S^
^51:111
St. Louis
$403,129
$397,538
$76,014
SS6,600
The reduced annual charges on account of the compared
earnings.
Net
7.603
7,496
608
Jacksonville & Chicago Railroad since its purchase,
Other income
assuming the
with the amount of annual reiit before paid—
$410,732
$405,034
$76,014
$57,208
shares-is
Total income...
continuance of the same rate of dividends on your
Deduct—
$45,000)
$48,000
„.
about $S0,000.
, ^.
Interest
,
,, ^.
$266,105
$262,202
21,000 >
21,000
Taxes
The total amount required to pay all Fixed Charges, Sink3,620 >
3,722
in
of
stock
shares
your
Rentals
on
Dividends
and
ing Funds, Rents
required for such payments
$266,105
$262,202
$69,620
$72,722
is $159 953 32 less than was
Total
8ur.$142,832 8T.$144.627
Sinking Funds and the
Baltiioe":::::.".'.def. $15;514 8Qr'i6,394
in 1863; the' payments on account of
year.
,
rate of dividends being the same in each
,
Philadelphia & Reading.— The Adams Expresa^Company,
the West is far
people, has taken its
The present condition of railway affairs
to disagreement with the Reading
owiDK
the
the Pennfrom satisfactory, and while we do not bc-litve that it is
off of the Reading lines, transfeiring it to
business
Government to deal unint< ntion of the State or the National
Bead.
frvlvania
j
j
some of
deal
by
justly -with railroad companies, we do believe that
The United States Express Company has made a
be reand
Rsading
the
over
business
its
of
much
send
the present legal restiictions are unjust, and should
will
which it
pealed or amended.
-j
.
,j
,
^ .r.
,j » a Jersey Central lines.
,
to
should be held
President
We believe that railroad companies
At the Reading Railroad office it was slated thatnearly oneLaw rules, and that subject Corbin
strict compliance with Common
had declared his intention of calling in
deal with their comon October 1 and ot
to such rules they should be permitted to
half of the improvement mortgage bonds
Ihe
petitors under such agreements as they may be able to m^ke issuing in their place new general mortgage 4 per cents.
for
of
reasonable
rates
10,thereby secure the maintenance
improvement mortgage was created in 1873, and of the f
operating
expenses
as
much
as
under the sinkingdrawn
transportation and reduce
were
issued,
$636,000
bonds
000
000
On October
may be consistent with good service to the public.
fund clause in that and the two succeeding years.
The most potent cause of present and prospective troubles 1 next theie will be |4,~498,000 of the bonds that can be drawn.
Governments are responsible.
of McOalis one for which the State
The drawing will take place in July at the officeper cent mThe bonds bear 6
They have authorized and permitted too many competing mont Brothers, in London.
railroad?, for which there appears to be no adequate remedy terest.
Tie fixed charges will be reduced about fSO.OOO a
except increased traffic. For such large increase of traffic as year by the operation.
is netdtd to produce a rea-onable annual return on the actual
Pittsburg Tirglnia & Charleston.— The groes and net
cost of all Western railroads under present legal restrictions,
and charges for 1888 were as below given:
earnings
immediate
future.
in
the
prospect
no
see
can
•we
1887.
1888.
Many persons, who asbume to represent the public, charge Grossearnings
$656,137
$674,066
-.-,
4bd,s/o
458,233
railway managers with responsibility for all causes of comexpenses and taxes
g^tlS^^fc
,
1^
^
m
.
,
,
i
,
i
..
Sd
Operating
plaint.
With all due respect for such persons and for the public,
we must be permitted to say that such statements either show
that they do not fully comprehend the situation or that many
Not earnings
*?50
000
^'*"'"""
Charges
$192,267
150,000
$42,26T
$65,823
BurploB
of the descendants of Adam have inherited the disposition he
Co.
Fahnestock
Messrs.
Northwestern.—
&
Huron
Port
manifested in the Garden of Eden when he tried to hold the
that the holders
today
columns
advertising
our
in
notice
eive
ma'-.er party responsible for his own act.
Huron Northwestern Railway Comcongratulate you on the strong financial condition of of bonds of the Port
send
to their office for a circular regardto
requested
are
nany
condition
of
your property,
your Company, ujjon the good
eecuritiea for bonds of the Flint
their
of
exchange
the
ing
small
and
compact
railroad
sj stem,
upon your comparatively
which has obtained poBand upon its exceptionally good location with termini at Chi- Pere Marquette Railway Company,
propsrty.
the
of
session
City,
three
of
the
largest
>uis
and
Kansas
and
most
cago, St. L
important W«stern cities.
Pullman Palace Car Company.—In calling the stockwith the advantages of your Company which we have re- holders' meeting for March 4 to sanction the issue of 15,000,ferred to, we think you have no cause to fear that it will not 000 additional stock at par, being 25 per cent increase, this
be able to maintain its present rank among Western railroads. company explains that it is to cover expenditures on capital
hope that present legal restrictions which, if con- account. The company has put into service since August 1
tinued, must produce serious results will te removed or last 107 sleeping, dining, parlor and other cars of the vestichanged so ae to be less destructive to railroad interests at no bule pattern at a cost of $1,611,843, and 32 similar cars are
distant day.
constructed, to cost $378,000. The company has also
&
&
We
«
We
—
—
being
to fear is, in our judg- acquired 212 cais by purchase of the Union, the Woodruff and
ment, continued unjust legal restrictiois which may, in time, the Mann eompaniep, at a cost of $2,550,000. The one half
render your property, and that of all other Western railroad interest in cars heretofore owned jointly by the Atchison Tocompani s, of liitle or no value.
Sania Fe and the Pullman compatjies has been bought
peka
There is no class of persons in the United States which at a cost of $412,869, and 60 tourist or second class sleeping
Sinta Fe for
has done as much to promote the development of cars were bought from the Atchison Topeka
the country and the general welfare of its iDhabitants as rail $'61 918
Twenty similar cars to be bought from the Atlantic
one-fourth
road shareholders, and that class is the only one which
Pacific RaUroad Company wUl cost $97,440, and
The
greatest danger
you have cause
&
&
&
FKBRUi^BT
THE CHRONICLR
28, lBf-9.\
interest in 70 similar oars hna been purchased from the Union
Pacific RBilway Company at a cost of |70,000, making these
«gKr«'Katod imrchases 15,232,070.
The company has also
paid its dobenture bonds, amountins; to $955,000, mature<l
October 15, 1888, and has inortas :d its investment in freighl
and pa!>8enB;er cars, held under Car Trust leases, by the sum
of $1,310,000. Some additions to its manufaoturiag plant
have also cost about $70,000.
2ei
%ht (SjtsmmzvtM x^uue».
COMMERCIAL EPITOME.
Feidat Nioht. Feb, 22, 1889.
a close holiday (Washington's Birthday) and bnsineM
Kuilroad Construction in 1888.—The Railway Aye, of is wholly susp-nded. Our raview of transactions for the
CbicaKo, has published a final statement of the railroad mile- week ends, therefore, with
the dealings of yesterday (Thurgage built during 1888, and makes the total for the United
States 7,106 miles. "Vhe Age gives now for the first t me a day). The weather has been wintry, but not unseasonable,
table showing each line of road on whioli new track was laid presenting not*iing adverse to trade or transportation. Plantduring the year, and thus lays its statistics open for inspection ing operations hive bt'gun in the Southwest, and
reports from
and invites ) ublic examination of them, and also places itself the Northwest unfavorable
to the prospects of fall-sown wiieat
in a fairer position to ctiticize the compilations made by its
were materially modified.
competitors in the same field.
Lard on the spot was without decided change from our last,
Richmond Terminal.— The Richmond Terminal directors but was dull until Toursday, when thgre
was an advance of fully
this week authorized the issue of $25,000,000 of twenty-five10 points, with business more active, closing at 7-45o. for reyear collateral trust 5 per cent gold bonds.
They decided
to issue $5,000,000 at once to
pay
off the floating
debt of the
company, including the amount incurred by the purchase of
the Georgia Compbny. These $5,000,000 bonds have already
been sold to a syndicate represented by Maitland, Phelps &
Co. and Keesler & Co. The bonds were sold at 85. lets bankers' commission.
Of the balance of the $25,000,000 mortgage,
$4,000,000 will be set aside to take up $0,000,000 of preferred
stock.
It is left optional with the company to take up this
stock, and it will be done ouly when practicable, by which is
meant that the company will give its bonds at par for the prrferred stock at 80. $4,000,000 of the bonds are also set ts'de
to take up a corresponding amount of the Georgia Company's
There are also set aside $5,500,000 to take up a corresponding amount of outstanding collateral trust 6 per cent
bonds. Also enough will be set aside to take up the outstanding East Tennessee first preferred stock, the outstanding
Richmond & Danville stock and the outstanding Georgia
Central stock. The company has used the proceeds of the
recatsale of Virginia Midland bonds to retire collateral trust
« per cent bonds, and have retired about $750,000 within the
last week.
bonds.
This
is
fined for the Continent, 715a. for prime Western and
6 75o.
for prime city. The speculation in futures was also sluggish,
prices making only slight fluctuations. Thursday,
however,
there
was an
active,
buoyant market, the bears covering
their contracts
to the extant of about 8,000 tierces, closing
firm at about ihe best prices of the day.
DAILY CIMSTSQ PRICES OF LARD FOTITBM.
aaturWy. MoruPy Tiietd-y. Wednsd'y. Thurid'y.
March (lellvcrv
6-99
0.7 01
7-00
700
7-16
Apill delivery
7-00
c 7 04
7-02
7-00
7-16
7-04
May ileltvtiry
c.
7-03
7 00
7-02
7-17
Juuedellvery
0. 7-06
702
704
7-03
719
July deliver,
c.
7-07
7'02
7'06
7-04
0.710 7-05
7-09
7-03
Pork has been dull and depressed, but closes
Sepr. delivery
7-21
7-;^5
mday,
M
"
—
?
•>»
steadier, though
at$12@12 35 for extrd prima, $12 35@ 13 for old and
new mess and $14@ 16 for clear back.
Cut meats have been
active but at lower prices, and Thursday a firmer feeling kept
business within nairow limits and the close is somewhat
quiet,
nominal. Quoted Pickled bellies, 6J^(38Xc. shoulders,
55^9
Union Pacific— Northern Pacific—The directors of the
Northern Pacific Railroad Company, at their regular monthly 6c., and bams, 9%(a^l0c.; smoked shoulders, 6J^@7c., and
meeting Thursday, approved an "arbitration contract " with hams, 10J4@llc.
Baef is nearly nominal at $7® 7 25 for exthe Union Pacific Railway, which will reeult practically in a tra mess and $9 50@ 10 for packet per bbl
India mess quiet
;
joint lease of the Oregon Railway & Navigation Company'^
at $17@ 19 per tierce.
B ef hims are dull at $12 75@13 per
property. The Union Pacific leased the Oregon line in April,
1887, on the basis of 6 per cent yearly dividends on the at. ck. bbl. Tallow has been variable, closing quiet at 5J^c. Stearine
Negotiations to admit the Northern Pacific to a joint control quoted at 7>^c. and oleomargarine 7c.
Butter is dull at 20@
were continued for some time, but legal and other objections 31c. for creamery and 13@20c. for Western
factory. Cheese
prevented a successful accomplishment. The present arrange10@12i^c. for State factory.
ment, it is said, will avoid these que&tions and make the joint is easier at
Coffee on the spot has not been active, but closes rather
lease an assured success.
The '• arbitration contract " provides for a board of live firmer, with Rio quoted at 17J^o. for fair car^o, and the sales
arbitrators, and for an equal division of expenses and profits Thursday embraced 1.000 parcels Padang, from the December
in the management of transportation lines in a district em- sale, at 21f^c. The speculation in Rio options was not active
but in the past day or two prices have shown an upward tenbracing Oregon and parts of Washington and Idaho.
The Tribune report says " The Northern Pacific turns in dency, in sympathy with the course of European markets
and Thursday was stronger, closing steady, with sellers as folits Spokane & Pa louse, Spokane Falls & Idaho and Coeur
d'Alene branches, and the Union Pacific its Washington and lows:
Idaho and Oregon extensions lines. The stocki of these com- February
16'15o. June
16-330. Ootot)er.
16-750.
lti-25o
July
panies, or an absolute majority of them, are to be placed in tlie March
16-450. November
1 6-750.
16-200, August
April
16550. December
1 6 -75o.
hands of the arbitrators, who will vote on the stocks accordIti'liSo,
May
September
16-75o.
ing to instructions from the Union and Northern Pacific coman advance of 30(g50 points for the week.
panies. In case of a dispute the arbitrators will settle it. The
Raw sugars have been quiet, but Thursday were quite firm at
purpose of the agreement is to secure absolute impartiality in
the building and working of branch lines in the territory it 4 13-16c. for fair refining Cub), and 5 9-lGc;. for stand rd cencovers.
In furtherance of the project the Union Pacific trifugal, with sales including 2,000 bags Muscovado, 88 deg.
agrees to transfer its lease of the Oregon Railway & test, at 2 9-iec., c. and f., and a cargo of centiifu^al, 96 deg.
Navigation and the stocks of the branch lines previously test, at 31^0., c. and f., to arrive. Molasses is more firmly
named to a trust company to be selected, while the held at 31c. for 50 deg. test, but is quiet. The offering of teas
Northern Pacific agrees to share the expenses ar.d on Wednesday was not a large one, and full prices were
Profits of the lease of the Oregon Navigation property. obtained.
Kentucky tobacco has been quiet. The sales for the weeic
he only important condition is that control of the stock of
this company shall be lodged in the hands of the arbitration are only 350 hhds., mainly for nome consumption.
A strong
board. This will be accomplished by the transferor the stock effort is to be made to effect next wet-k au abolition of the
held by the Oregon & Trans-Continental Company to the arbi- tax. Seed leaf in better demand, and sales are 1,150 oases, aa
trators, who will issue some kind of negotiable certificates for follows
50 cases lt82 crop, Pennsylvania seed leaf, private
it.
The voting power, however, will be reserved by the arbi- terms; 150 cases 1886 crop, do., lOJ^i^iac; 250 cases 1887
trators. A meeting of the executive committee of the Oregon crop, do., 9J^@113^c.; 100 cases 1837 crop, do,, HaTana seed,
& Trans Continental Company has been called for Monday to private terms ; lOio cases 1887 crop. New England Havana,
authorize the sale. As the committee is composed of directors 14@30c.; 150 cases 1887 crop, Wisconsin Havana, 10(^120.;
of the Union and Northern Pacific companits.who have already 150 cases 1887 crop. State Havana, 12@14c., and 100 case-i sunvoted for the arrangement, there can be no reasonable doubt dries 5«32Jic.; also 600 bales Havana, 68c.@$l 10, and 250
about the result."
bales Sumatra, $1 25® $2.
Oil the Mtt 1 Excuauge there was early in the week some
Wabash.— Judge Gresham has appointed March 21 for a decline,
but latterly an improving tendency, with sales Thursfinal hearing in the Wabash case.
At this hearing applica- day at 21 30(g 21 350. for April, Ingot copper has been verytion will be made for decrees to sell the property under forequiet, and Laae closes nearly nominal at 16^c. L-ad was lower
closure.
early in the week, but made some recovery, and IThursday
Wabash Western.—The gross and net earnings and was firm at 3-70c. on the spot. Domestic spelter is very quiet.
charges in lB88 were as below given :
Pig iron is steady, but weakmss for manufactured stock is
still reported from the interior towns.
1888
1R87
Oros« earnings
$5,888,066
$6..57i,040
Spirits turpentine has further advanced and closed firm at
Operating expenses and taxes
4,817,023
*4,680,124
48c., about 500 bar. els having been sold in the past week.
Ncteamlngs
$1,068,*^83
Sl,*90,916 Rosins are firmer at $1 07JJJ.31 123^ for common to good
CHargea
925,407
n,310,7l3 strained. Refined petroleum lor export is easier at 7-10o.
Hops have shown an upward tendency. Woijl is very dull
$143,386
^[)^'"«
$580,173
with some depression in values and forei^a more freely
:
:
—
>•.
:
'
Taxes are Inoluaed under
otiarge*.
offered.
;
.
r
.
We
Friday, P, M.. Feb. 33, 1889.
by our telegrams
THB Movement of the Ceop, as indicated
the we|k enomg
from the South to-night, is given below. For
have reached 96,350 bales,
this evening the total receipts
136.347 bales the previous
li^Snst 135,670 bales last week, and
of Sept.,_188S,
week; making the total receipts since the Ist
°*
^^2,734 bales, against 4,835,897 bales f"]^ t^« ^T^LPt^i^i
d.lbd Dales.
1887-8 showing a decrease smce Sept. 1, 1888, ot
at—
Mon.
Sat.
Thurt.
Wed.
Tuea.
Galveston
El Paso, Ac
1,432
4,705
1,383
975
Hew Orleans...
4,784
6,615
8,647
1,932
4,791
MoDlle
norlda...
752
Bavannah
1,958
77
1,107
2,516
1,009
1,39S
*2,500
2,399
1,077
1,186
..
Salveston
Norfolk
..
Other
Total 1888.
175
22
26
356
175
807
26
2,721
598
1,968
2,685
1,427
1,909
1,228
Hew York
1,1C3
1,274
1,389
907
1,178
Boston
Baltimore
667
259
637
331
57S
21
50
52
281
Iotall887
9,676
9,011
4,682
6,499
2,727
1,947
1,418
4,682
N'wp'tN., Ac.
588
255
1.947
75
479
19,001
Totals this week! 15,779| 19,534 21,033l 10,892 10,111
96,350
For comparison we give the following table showing the week s
September 1, 1888, and the stock
to-night, compared with last year.
total receipts, the total since
.
Seeeipts to
Feb. 22.
Qalveston
...
MohUe
Florida
Bavaunah
This Since Sep.
Week. 1,1887.
This Since Sep.
Week. 1, 1888.
£lPaBO,&c..
Hew Orleans.
...
Bruus.,Ac..
Charleston ..
P.Royal, Ac
Wilmington
.
Wash't'n.&c
Hortolk
West Point
NwptN.,&c
Hew York.
Boston
Baltimore
.
Pail'del'a,
Ac
1889.
Galveston
Hew Orleans.
MoblH
Bavannah
...
Cbarlest'n.Ac
Wllm'gt'n, Ac
Hortolk...
W*t Pjiat, Ac
All others
Sot. this week
4,054
27,160
1,762
6,742
7,640
1,861
5,185
6,849
7,771
833
9,676
13,693
14,284
96,350
2S,140
355,722
32,717
316,217
30,223
77,302
68,449
21,250
37,143
5,G60
11,156
443
27,957
236,101
11,700
26.660
14,566
274,231
18,000
18,865
25,855
884,542
808.631
69,024
95,013
2,931
21,542
2,018
6,450
4,S3o
1884.
7,';46
31,859
2,474
8,469
10,126
674
752
434
9,000
5,763
13,338
3,910
5,96S
3,964
5,897
92,867
1,.530
6,354
50,312
76,187
4835.897 1776.234 4536.84'; 4390,034 4340.218
The exports for the week ending this evening reach a toial
of 76,413 bales, of which 40,753 were to Great Britain, 2,309
to France and 33,351 to the rest of the Continent.
Below are
the exports for the week, and since September 1, 1888,
Bin
i» 8»iit.
l-'i-i.lM
1
Week Eiuilns
Exported
RxporU
/•om—
Ftb. 82,
Z.CSi
Kcbile
4,8ll6i
8,041
1,063
Wllmtngton
3,904
11,040
20,150
4,S9S
4.SS(
7,1 !B
Bo.Hon
Balilmors
6,7e«
ll,3i6
IM9
Tot.1
1'<S7->W.
Oonti.
nent.
191,821 21,078
511,092 213,410
42,487
82,422 11.&42
27,5S3
5,362
64,I3S
49
1,889
83.048
26,446
7,517
...
PbIla<lelpU'£.
Total
Qreat
BHtatn.
800,28a
112,926
47,357
4SS,Eee
ise.eoi
7,043
Vork....
1S88, to Feb. 22,
23,740
78,082
We«t Point...
Nwpt Nws, Ac
Haw
7,125
.
Norfolk
40,753
.•a.a5i
76 0*4
IS7I »n.8«^
None.
46,741
6.500
5,000
10.500
13,750
22,500
13,200
12,500
308,981
28,217
16,250
66,802
20,700
17,957
222,901
71,013
66,876
6.307
41«48S
16,020
130,691
753,851
46,902
77,933
6,296
11,651
52,428
62.641
9,888
10,178
115,514
162,402
753,117
700,959
8.331
None
900
The speculation in cotton for future delivery at this market
opened the week under review with an advancing tendency,
due to free purchases of March options, said to be for account
of a leading Liverpool house which would receive the cotton
when tendered. A marked narrowing of the differeaces between the early and late deliveries was another feature of the
speculation. A slight reaction on Tuesday was followed by a
fresh advance on Wedoeaday, when the receipts at the ports
were comparatively small, and Liverpool showed more acBesides, with a close holiday near
tivity in its regular trade.
at hand, the bears were timid and covered contracts to a
moderate extent. The chief interest, however, was in March
delivery, in which there was active manipulation, Yesterday (Thursday) Liverpool opened at a smart advance,
but we responded feebly, and soon after, when May options were offered very freely at IQ-lOc, values took a
downward turn, accelerated by free notices for M^rch delivery; but when it was learned that these had been stopped
very generally, takings of a leading house being estimated at
35,000 bales for the day, there was a partial recovery; but in
the last hour the market was dull, drooping and unsettled.
Cotton on the spot advanced I- 16c. on Saturday last, and again
on Wednesday, meeting with a moderate demand for home
consumption. The relative cheapness ot this market prevents,
thus tar, the usual accumulation of stocks here. Thursday the
market was dull at lOigC. for middling uplands.
The total sales
bales.
—
—
DPLAND8.
Sat.
Wlh,
Ordinary
Btrlot Ordinary
Bood Ordinary
Strict Good Ordinary
Ldw Middling
75lR
mon Tues Wed
7^10
7%
Th
74
811,6 8l>,f ai'ifi
9>a
9%
9>a
9»8
9%
95s
Low MlddUng
MlddUng
Sood Middling
Btrlot Oood Middling
MlddUagFalr
9''8
978
lOiie 101,8
109,6 10«.«
1013,6 1013,
lUl
U"*
Fair
ll'^s
U''e
GULF.
Sat.
Ordinary
Strict Ordinary
Strict
Low Middling...
Middllna
Good Middlinu
Strict
Good
MidilliUK..
Middling Fair
Piir
STAlMiU.
9
Good Ordinary
Strict Good Ordinary
lb.
.
93,
93,8
yii,„
915,6
9ib„
Uib,„
'"16
73,6
73,6
713if
71»,(
8^
834
8^
MlddUng
9»10
9^*16
9»18
8%
lll'',6
Xb
7^8
81,6
768
81,6
9
9
97l6
916,6 915,,
103,6 103,6
Frl.
a
o
10%
J03s
10-8
lll«
11»,«
123,6
10^8
lllg
11»16
123,6
Wed
•ru.
Frl.
714
7^8
HoU-
7I4
7 '8
813,6
953
73,8
Lijw Middling
713,6
1018
10%
1058
105e
lO's
107e
ll^rs lli'lfl
101,
10»,r
10ia,„
ll-a
ll's
8
8
8
815,6 815,8 816,1
998
93a
&'«
9^8
1018
1018
1013
103,6
105,6
105,8
1013,8 I0i3,e|l0i
111,.
111,8 1111,6
III3 111.2 I1112
1218
12% 11213
Sat. ITlon 'JTutu
.
7%
»ll,„
9'«
Th. FrJ.
738
713,0
S^U
itIouiXaes IVedi
79,fl
Good Ordlnsiry
Btrlot Good Ordinary
LowMlddUriK
76i«
day.
9=8
Exported to—
1,331
BaTftinib ....
Bru isiv ck ...
Ch»rl3!>tin...
SeiJt. 1,
to-'
Great
Conti- Total
BrU'n. Prance nent. Week.
Oal7..0t.on ...
Hew o.-leaiu.
from
Stock.
Total.
wise.
5,295
None,
1,000
3,500
3,635
2,600
None.
None.
5.407
None.
None.
None.
None.
None.
Btrlct
1885.
6,320
34,502
4,440
12,622
6,208
Ooatt-
4,000
7.000
4.957
8,900
5,800
2,500
27,708
6,500
None.
None.
5,168
11,000
6,500
10,000
—
40,457
1886.
5,814
38,526
3,993
11,774
6,485
880
7,752
5,742
14,047
1
France. Foreign
for forward delivery for the week are 337,400
For immediate delivery the total sales foot up this week
3,174 bales, including 708 for export, 3,466 for consumption,
36,224
bales
in transit. Of the above
for speculation and
were to arrive. The following are the official quotations for
3,655 each day of the past week— Feb. 16 to Feb, 23.
as follows.
is
1887.
1888.
11,979
28,736
4,060
9,474
3,615
34,450
69.024 4,835,8971
Corniar.soii for six Heasons
BKCifils at-
1888.
1889.
4,054 617,392
10,581 597,714
16,942
1,398
28,736 1,497,359 27,160 1,510,055
1,762 195.403
4,060 192,283
50
21,045
22,708
419
6,742 806,574
9,474 756,853
1,746
110,077
67,400
2,213
7,425
379,770
3,440 318,002
215
13,637
13,160
175
166,985
1,853
807 144,974
4,32e
8
4,644
26
5,185 422,722
9,676 446,679
5,497 360,523
9,011 349,411
92,256
4,682 101,475
1,352
74,202
63,474
6,499
3,390
64,473
772
62,693
2,727
1,917
5?,071
1,210
27,501
479
567
35,180
22,614
96.350 4.332,734
Totals
Stock.
1887-88.
1888-89.
portfl..
1,239
145
.
New York
Total 1889.
1,910
1,655
Ftilladelplila,Ao
Savannah
419
138
812
MobUe
Charleston
9,474
2,213
3,440
140
Other
Great
Sew Orleani
10,581
1,398
28,736
4,060
not cleared^or
Leaving
AT-
1,468
2,213
292
West Point...
22,
Britain.
Total.
269
1,147
879
1,145
Port Royal, Ac
Wilmington....
Waah'gton.Ac
Korfolk
34 Beaver Street.
On Shipboard,
Felt.
77
Braii8w'k,&0
Caiaileston
& Lambert.
450
419
72
[Vol. XLVIII.
In addition to above exports, our telegrams to-night also give
as the following amounts of cotton on shipboard, not cleared,
add similar figures for New York,
at the ports named.
which are } repared for our special use by Messrs. Carey, Yale
COTTON.
Fri.
«
«
THE CHRONICLE.
262
JUceiptt
«
.
'..Oa-t.V
72,J33
MARKET AND SALES.
Tito).
285,333
3,1,333 1,035,8J5
42,487
ISS.tSi
2T«,015
25,171
B8,i)6«
140,200
2^0,073
22,003
SKOif,
100,747
281,312
12,381
125.2S7
175,418
649,70J
135,618
47,857
40,418
2,015
ss,ono
11,078
118,928
glance
total sales
and future
how the market
closed on
same days.
SALES OF SPOT AND TRANSH".
BFOT HAKKBT
CLOfBD,
Bat.. Steady
®
1,0 adv.
Export.
708
Mon. Steady
Tues. Quiet
Wed. Steady® i,gadv.
Thur. Steady
Oon-
Speo- Tran-
stmip. ul'l'n
838
491
401
412
324
Frl
sit.
1,540
491
401
412
3;^4
.
FDTtlRKS.
Delit
Total.
Sales.
2?,600
78,700
34,400
95,100
100,600
cries.
"Z
Hol'i
37,324
S18,338 ^.0^2,749 3,369.192
2e0.72i
deliveries each day durirg the
For the consveek are indicated in the following statement.
Tenience of the reader we also add a column which shows at a
The
<»7.510 « 416.9&1
Xotal
708
2,466
3,174 337,400
,._
dally deliveries given above are actually deUveied the day
previous to that on which they a^-e reported.
The
:
Fbhruart
;
THE CHRONICLE
28, 1889.]
The Sales and Pbiobs of Fctubes are shown by the foUow<
log oumprehensive table
>i?
Am
w
.
9
K
f^
4
,2 p"*??
O's?? o^sPm n*v?9
Eft
g3l|
3?|
95?|
dill
o»9 Soa" ».20i Sn2? f3
00
263
Tax VisiBLB SUTTLT OF OoTTOK to-night, as made op bf eaH«
and telegraph, 1b as follows. The Continental stocks, as well
those for Great Britain and the afloat are this week's returns
and consequently all the European flgures are brought down
But to make the totals the complete
to Thurnday evening.
figures for to-night (Feb. 23), we add the item of exportH from
the United States, including in
o'
:
»
«
_,
»
»
•
^"mo
gw*:^
oosoa.
S9?Ma
e^i'B
S'^-^Si
««»£ e»wg
g-e*-5
S.MMg »--^2 gSi^B
Eg^? 5.g^
2^«»
^e|? ^92r! "95^
1888.
1887.
847,000
26,000
960,000
10,000
709,040
17,000
Total Great Britain stock.
Stock St Hamburg
730,000
873,000
4,200
46,000
25,000
970,000
3,000
33,800
31,000
726,000
4,000
41,100
30,000
^
2
"^
tt<0
<6cb
2
bbdb
too
s
I
o
oc»
:
(0:^0(5
(0(0O<O
oboD^cb
(0(0
(0(0
oboo
ip-o
•vIOIKJ**
CI*
(0(000
0b6®QD
obcD^oo
coo
(0(D
I
oooc
50o CO
>6o CO
^
2
CDOOCO
(o6®co
COCOOCO
ao ^
MM >
oo 5 OO IJ oo 5
66 2 MO
66
2
too
S
2
"
lOM
M
2
I
MtO
O O O CO
CO
ft*-'
^6
3
'
(6
"
M—
O
1
r:
Sfo:
to
OO
<
^asM 2"^
toto
MM M
CO ? OO
toto
tOM
OOtf00
<»
'^
I
iLS'mL
«»:
-101-
OOOO OOC
'to
^to
00
2
;j
2
"
<
5
QCOO
««o,,''
l«r:
00
5
I
,
mOm-*
I
1
til
1
to to
00
oc'i>
MO
o
1
5
CDcibOob
CD
(0(0
66
csy
lOM
M
00
5^
6 0" 2
*<
«
I
:
o
OOOO
1
io
cJ'Cfl
o o
oo
00
425,500
o
;;o »
^1
aj <»
O
.Q
^
I
»2 ir-Ki: o
3
>=•
o.
d:
O.
—
.
,
:
25-s>m: gg;
"?:
MM
000
m CO »3 W -;- o
I
M^.'t.i
lOtn
®|i
Oi
I
0>
.
:
I
06<
CJt
I
I
£6
oo
66
c;i
«
I
9
00,^0
wc
W '^ W — CO
to
OiO»>t-c:'-'
Gci'.fcOco'btioihcoii.t-'H'^i^otCJif'.coio
Qc»;.
w -^ to -q
'j;
h".
rf».
--1
0-.
1*^
10
M
I
«:
© as -^ OD
'Or
^
oj
(p.
CO
o
i--xCv'toiO^:jDi.;OOt»^cocjnooy-v]'0
0<100C10COr-CJOiC*-tDOO*JWCDCl
•
O
o
<JMO!MMM;
Kf'OOltOtOO;
I
I
oo o l:
"o
6
CI
M
Sil
I
0>
1^- -kJ :;!
O i" CI
I
'Ci
to
MO
too
|0 _50ao;
iococo^'-iMotto'Jo*': "bcc'i^.'Vil^.'bbsb
otooc;»ooto»03; ooortf^-oiecoo —
MWOOOOOCaiO.
MOOfcBWtOlO^O
la
10 «p
«
'
<i>
OM(0C0t3
O
o to -^10
-I ^10
-4 a M CO
;o
-InelndM sales In Seplombor, 1888, for Septombor, 105,300; September-October, for Octobir, 394,100; Septeiuber-November, for November, 585,500 SeptemberDecembor, for December, 980,-100 Septomi
Der-January, for January, 1,650,500.
BB^ We have melude'l in the above table, and shall continue each
c;i :;i
;
c^tociMM roM
pMJOM WpOi
"toxicicoViicto
10 'O CO 3i OD O
-^ O
CC 0« »3 13
w»i'K to give, the averajje prion of fiittircs each day for eaoU month. It
will be found under each day following the abbreviation " Aver." The
average for eacli moutli for tlio week Is also given at bottom of ti>ble.
Transferable Orders— Saturday, 9-85o.; Monday, 9-800.; TneidaT.
Wednesday, 9 950.: Tuar8d»y,;)-95o.; Friday,
The f oUowinK exohanRes have been made during the week
•24 pd. to exch. 500 Mar. for June.
34 pd. to exeh. 1.000 Mar. for AuR.
•02 pd. to eicb. (100 leb for Mar.
•28 pd. to exch. 11)0 Mar. for July.
•12 pd. to exch. 100 .Mar. for May.
•10 pd. to exch. 100 Fell, for Apr.
•20 pd. to exrh. 1 ,000 .Mar. tor .June. •O-* pd. to exch. 1,000 Apr. for May.
•07 pd. to exch. :^00 Dec. for Oct.
08 pd. to exch. 2.200 Mar.for April
•08 pd. lo exch. 900 M ay for June.
•02 pd. to exch. 100 Feb. for .Mch.
•08 pd. to exch. 1 ,500 Mch. for Apr. •OB pd. to exch. 300 July
for Aug,
.35 pd. to oxch. 1,500 Mar. for Aug. Even 200 Oct. for Jan.
9'8so.;
K to'^a
•^ CJ
CO Oi to
M
I
(OO
I
Id::
<S
1
«
to
«:
CO
M
h-i
C CO pJJi CC C C.W X X yt C Clj^J «D Ci C O tO MS
UO'IU'ikOjOiOOi/'jUcoi-tCM'Jcco'bH'
c. w r- 1— K w M
X — c -I tc wi M cc (^ CD CO"
-J v\ 01 -c :o
a:
o ic o 1^ 00 o OT w o
t-"
to
6:
!
o
to
I
P
5
,
cJt
^
MCJt
i-"
1
OOOO
week have been
ing statement.
^
toto
«."-:
1
536,400
into Continental ports this
Qd"*^ to
9m:
oxS"
522,800
—
adOtii
00 5
CJiin
2
524,200
2,223,405 2,385,030 2,607,364 2,623,907
II
oco
o,
184,000
17,000
62,50O
145,000
17,000
The above figures indicate a decrease in the cotton in sight
to-night of 154,955 bales as compared with the same date of
1888, a decrease of 390,869 bales as compared with the corresponding date of 1887 and a decrease of 296, .^13 bales as
compared with 1886,
At thk INTERIOB TOWNS the movement that is the receipts
for the week, and since Sept. 1, the shipments for the week,
and the stocks to-night, and the same items for the corresponding period of 1887-88— is set out in detail in the followO
or:
fr rftOiri
obob
oo 5
2
^
OOOO
OOOO
M
6m:
9.":
a-*;
MmOm
OOOo OCoO MMfflM
cooo
o
mmOm
otb
to
to
OOO oo
-M M to
CO
5
to to
2
toto
cccooo cocogco
(0(0
13^ The imports
It-
> COO
(OO
cox
I
198,000
10,000
105,400
184,000
39,000
95,000 bales.
I'M:
MMMM
coco
totoCti
174,000
26,000
128,800
137,000
57,000
Total visible supply
2,752,895 2,907,850 3,143,764 3,049,407
Price Mid. Upl., Liverpool
oUif.d.
59]8d.
S^nd.
4%d
Price Mid. Upl., New York...
10%o.
10s>i60.
SiSige]
99iec.
-o
i»M
OOOO MMciM
OOoO OOOO
to to
Co
tOM
too
4,000
79,200
250,000
37,000
1.54,000
Europe
Total East India,
Total American
I
a
u follows:
i
762,000 525,000
284,000 257,000
405,000 379,000
863,361 1,025,290
270,905 414,172
22,098
23,445
673,000
180,000
313,000
868,631
320.103
30,316
2,228,695 2,385,050 2,607,364 2,623,907
—
<te.
«*':
1
_C;'00
to to
afloat for Europe..
United States stock
United States Interior stooks.
United States exports to-day.
Egypt, BrazU, &o., afloat
MOM
OOO
OOcO OOCO OOcO OOOO
MM^M 6mCo mmO^
C5
0« p
MM ^
MM bT 00
oo
OO 5
5 OO 5
1
American
fn )i» afloat for
=,0(0
578,000
143.000
340,000
884,543
278,153
5,000
bales
Total American
Ea4t Indian, Bratii,
Liverpool stock
London stock
Continental stocks
«••:
COi
C0<
2,752,895 2,907,850 3,148,764 3,049,407
Liverpool stock
Continental stocks
MM ^ 00
>
OO 5 MM 5
66
2 OS 2
(OvlM'<
"^
99MMOiM
1
319,500
5^
coco
coco
I
OO^O
MOt U
389,400
Total visible supply
cocooco
(bco^co
»5";
I
308,800
958,200 1,181,800 1,359,400 1,04.5,500
250.000 137,000 184,000 145,000
340,000 313,000 405,000 379,000
37,000
57,000
39,000
17,000
884. .512
868,631 863,361 1,023,290
278,153 320,103 270,905 414,172
5,000
30,816
22,093
23,445
Amet lean —
**
Mt-Mi-' MmCOM
Ot-»
M^
OOOO
OOOO
oopo
66''6
c»^*6
M
tO M
~)0 00
"m— >
00 5 00 5
MM 9 66 2
lyiio
222,200
Total European stooks
India cotton afloat for Europe.
Amer. cotfn aQoat for Eur'pe.
Of the above, the totals of American and other descriptions are
0>
CO
*<
Total Continental stocks
M
«.":
I
.
^M
oo
66
coco
(ci)
-•CO
(0(0
®
I
•«
O^V*
MM ®
«<»:
30O
2,100
160,000
5,000
64,000
9,000
4,000
Bgypt.Brazll.&caHt forEVpe
Obob^QO
(5(6
O-JI-'"
400
1,200
259,000
3,000
42,000
7,000
9,000
Stock In United States ports..
Stock In U. 8. Interior towns..
United States exports to-day.
o
(0(000
CO
;
a
*-•
ij
Si.":
I
to
500
1,100
178,000
2,000
43,000
5,000
4,000
:
«
(0(009
a«:
I
(0(000
<so
«
I
to
<
2
**
400
800
1886.
113.000
4,000
40,000
6,000
8,000
Stock at Marseilles
2
OD-S
M»0
-r-r
GD30
Olid
3,100
25,900
21,000
StookatBremen
Stock at Amsterdam
Stock at Rotterdam
Stock at Antwerp
Stock at Havre
Stock at Trieste
5
2
^
e.*:
1
M
2
KOM"«
*»
cDtooeo
tS(SQtO
(c(6®(6
0*-»-L_
(0(0
(CO
* «oo
(C (D
too
obx
CUM
2
MM
London
Suwk at Barcelona
BcockatOenoa
w
«
o
5?"*
the exports of Friday only.
732,000
4,000
S Cook at
ii.
it
1889.
bales
acook at IJverpool
t^M
t^^
xm
To a: to CO c^
c^ &c c>i
GO«t.'»*^J^t035tOiO-V(&3
<0
i^'^
M
m v m kI^
tou-i^iiKaito
MStOOjf>»OIOlOi^dt^if»CnOei^^MCOOt
13*-
M
M
CJ
<i5iMC;'CM)Utoi3x Mc;»o--!:3CJ>o»>x
to AOOOCr-lOClM.O — XtOMiO-^ XC C*-'
l^f
--1
rf»
»jo;c;cxCMif*c;:atoyi(— Mc;t*-gBXM
lUO'^OO
O<^tocoto -kJiumwm' c;»oo»MM-gco
!:C-qOM*J»-.tMa.C003: « C3 *> tX X Cn W
•*^MC0WWWC00OaDrf^' moj^cmcsw
.
CD,
CO-
COOfOSGtM
©MOD ^^l
to N* CD in
*Tb<t
aKurM
o
C«;
-1
13
to
M bi Mcn'-q M c O *>
4J«
;
'^UoId'^
W to '©
osaiO»to-^io;w>&»M; ©oji^c^to-^ioco
OMOMaoxocdM.
for LeolsvUle In both
figures estimated.
coc;i-,4Uicoaa<3o
yean are
"net.'*
t
TUla year's
THE CHRONICLR
264
[Vol. XLvIII.
Plowing has commenced in earnest and some farmweek. Labor is plenty. Generally
an increased acreage is being ptepared. Average thermomedredths.
la^e
The above totals show that the old intenor stocks4 1,950
to-night
«J«crea«ed during the week 23,093 bales and are
year, fhe rectuptsat
Inlee less than at the same period last
than the same
the same towns have been 8,098 bales less
all the
week last year, and since September 1 the receipts at1887-88.
towns are 18,946 bales more than for the same tune
ers are planting corn this
ter 59, highest 86, lowest 32.
Little Rock, Arkansas.
— We
have had rain on three days
now clear and cool. The
The
rainfall reached thirty-eight hundredths of an inch.
thermometer has averaged 46, the highest being 78 and the
m
but the weather
of the week,
Qdotations fob Middling Cotton at Otokr Maekets.-
we give the closing quotations of niiddlmg
markets for each
cotton at Soutliern and other principal cotton
day of the past week:
In the table below
lowest
26.
is
—
Helena, Arkansas. There have been two thunder storms^
during the vieek, the rainfall reaching one inch and twentyone hundredths. Cotton is coming in more freely than at
OLOSraO (jnOTATIONS FOR MIDDLING COTTOS ON—
same time last year. The thermometer has averaged 45"4,
Week ending
Feb. 22.
ranging from 26 to 78.
Thurt.
Wednet.
Tue*.
Mon.
Satur.
Memphis. Tennessee. Marketing continues to make good
9''8
916,8
9 'a
9l5i«
9-'e"
Galveatou.
progress. Rain has fallen on three days of the week, to th»
9=8
aos
9»16
99l6
New Orleans
99i6
extent of one inch and one hundredth. The thermometer has
99] 8
99l6
98l3
Mobile
»9l8
99ia
Qia
ranged from 28 to 77, averaging 45.
919
91a
9>a
9^
Bavaiinali...
10
10
10
10
10
Nashville, Tennessee. Telegram not received.
Charleston..
9:11
99,6
99ig
99,6
Wilmington.
Mobile, Alabama. Rain has fallen on every d»y of the
9%
9%
9%
9%
9%
Norfolk ....
week, the rainfall reaching two inches and twenty-one hun10>6'3''4 10l6®'4 1018®"* 1014®%
BOBton
10
10
10
10
10
dredths. The thermometer has averaged 53, the highest being
Baltimore...
1038
1038
1038
loae
Philadelphia 1038
70 and the lowest 87.
n'8
978
Q-'a
Augusta ....
g'e
9's
Montgomery, Alabama. We have had rain on five days of
9I>8
9=8
9»8
959
958
Memphis
91I1.
9II16
91116
9iiie
the week, and snow fell yesterday. The rainfall reached three
St. Louis
9%
9%
9%
9%
9^
Cincinnati..
Inches and six hundredths. Roads are impassable. The ther9%
9%
9%
908
9«i
Louisville...
mometer has averaged 53, ranging from 34 to tiO.
Selma. Alabama.— It has rained on four days of the week,
following
table
The
Rkokipts fbom the Plantations.
the rainf.i]l reaching one inch and twelve hundredths. The
plantaweek
from
the
each
Indicates the actual movement
thetmometer has ranged from 32 to 71, averaging 52.
The figures do not include overland receipts nor
tions.
Auburn, Alabama. The week's precipitation has been
statement
of
the
simply
a
are
they
Southern consumpSion
four inches and twenty hundredths. ,Snow fell to the depth
the
crop
that
part
of
plantations
of
from
the
weekly movement
cf two inches on Thursday. Average thermometer 54'5,
which finally reaches the market through the outports.
—
—
—
—
—
—
;
highest 75, lowest 83.
Rtceiptt at the PorU.
Wtek
Mtraino-
18b7.
18t8.
18(-9.
SVk at Interior Towna.
\mi.
1888.
Rec^pts
18t9.
1887.
from Plant" nj
1888.
18^9,
Jwi.18.....
••
83
168,851 105,40- 149,178 366.42- 423,^32 407,093 132,667
7.821 351.361,398,012 389,1)43 117,464
132.531 90.130
92.038 120.703
64.310 ieo.371
Feb. X
••
8
••
IB
" 2«
130,753
9S,6«e 115.354 336,8l2'37J.55e 361,239 116.004
99,5:^3 1IJ6,347 332,7i;8|368,66f ;(S6.521 104,443
80.212 120.960
8i,690 101,639
75.91? 119.436
69,19T3,60S
n
los.iis-;
88,582
84.137 185.670 321,366i360,44! 120,887
301.199; 360.«14 297.546
M.018 f».024 96,350
—
76,150
74.846
That the
total receipts from
the plantations since September 1, 1888, are 5,114,904 bales;
In l£87-b8 were 5,162,681 bales; in 1886-87 were 5,029,373 bales.
2.
That, although the receipts at the outports the past week
were 96,350 bales, the actual movement from plantations was
only 73,608 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the same week were 59,197 bales and for 1887 they were
74,846 bales.
The above statement shows
1.
—
Amount of Cotton in Sight Feb. 22.—In the table below
we give the receipts from plantations in another form, and add
to uiem the net overland movement to Feb. 1, and also the
takings by Southern spinners to the same date, so as to give
•ubstantially the amount of cotton now in sight.
1888-89.
1887-88.
1886-87.
1885-88
Reoelpfcs at the porta to Feh. 22 4,832,734 4,835,897 4,776,234 4,536,847
Int«^r stocks on Feb. 22 in
282,170 326,784 253,139 426,756
excess of September 1
Tot.reoelpt8 from plantat'ns 5,114,904 5,162,681 6,029,373 4,963,603
689,589 792,413 583,220 559,199
to Feb. 1
1
265,000 240,000 194,000 164,000
Net overland
Bonthem consompt'n to Feb.
Total in Bight Feb. 22
Vorthem
6,069,493 6,195,094 5,806,593 5,686,802
spinners' takings to
Feb. 22
to 63.
—
Savannah, Georgia. There has been rain on five days of
the week, the rainfall reaching two inches and sixty hundredths. The thermometer has ranged from 82 to 80, averagihg 58.
Augusta, Georgia. The €arly part of the week was clear
and pleasant, but latterly the weather has been cloudy, with
rain on three days, accompanied on Thursday by the heaviest
The rainfall reached three inches and
fall of snow in years.
two hundredths. The bad weather has interfered materially
with preparations for planting. Average thermometer 58,
highest 78 and lowest 46.
Charleston, South Carolina,— Rain has fallen on six days
of the week, the rainfall reaching two inches and seventeen
hundredths. The thermometer has ranged from 36 to 70,
ayeraging 52.
Btateburg, South CaroMna.— Rain fell on the first five
days of the week to the extent of three inches and eight
Average therhundredths. On Thursday we had snow.
mometer 60, highest 69 and lowest 36.
Wilson, North Carolina. There has been rain on three
days of the week, with a precipitation of two inches and
eleven hundredths. The thermometer has averaged 46, rangng from 34 to 68.
The following statement we have also received by telegraph
showing the height of the rivers at the points named at 8
o'clock Feb. 21, 1889, and Feb. 23, 1888.
—
—
Feb. 21, '89. Feb. 23, -88.
1,397,047 1.399.262 1,219,076 1,270.656
Weather Reports by Teleoeaph.— Our reports by telegraph from the South tonight indicate that over a large portion of thp Atlantic and Eastern Gulf States the weather has
been unfavorable during the week, ialerfeiiug with farm
work. The rainfall has been excessive and at some points
snow has
—
Madison, Florida. We have had rain on two days of the
week, the rainfall reaching one inch and fifty-eight hundredths. The thermometer nas averaged 50, the highest being
70 and the lowest 37.
Columbus, ffeorgia.-'Ra.m hss fallen on three days of the
wtek, to the extent of three inches and thirty-seven hundredths. The thermometer has averaged 42, ranging from 3$
fallen.
r Galveston, Texas,
— It has rained on three days of the week,
the rainfall reaching sixty-seven hundredths of an inch. The
thermometer has ranged from 42 to 67, averaging 65.
Palestine, Texas. Rain has fallen on two days of the
week, the rainfall reaching one inch and sixty hundredths.
Ice formed on four days. Average thermometer 47, highest
Ce and lowest 38.
Ban Antonio, Texas. There has been one light shower
during the week, with a precipitation of one hundredth of an
inch. The thermometer has averaged 51, the highest beinir
6 and the lowest 86.
New Orleans, Louisiana.—It haa 'rained on two days of
theweek, the rainfall reaching twenty-eight hundredths of
an inch. The thermometer has averaged 52.
Shreveport, ZoMfsiana.— Rainfall for the week, seventyone hundredths of an inch. The thermometer has ranged
—
—
from 83 to 81, averaging 51.
Columbns, Mississippi.—We have had
Above low-water mark.
Above low-water mark.
Above low-water mark.
Above low-water mark.
Above low-water mark.
Memphis
NashTllle
Shreveport
Vloksborg
India Cotton
11
11
34
25
24
Feet.
Ineh.
8
18
14
8
2
20
22
a
6
2
1
Movement from all Ports. —The
»
receipts
and shipments of cotton at Bombay have been as follows for
the ireek
and
year, bringing the figures down to Feb. 21.
RJEOEIPTS AND BHIPHBNTS FOB rOVTR TBASS.
BOMBAT
Shipment* IhU week.
Tear Great Oonti-
BHPn,
nent.
Shipmentt Since jaw.
Oreat
Total. Britain
1889 29,000 15,000 44,000
16.000 16,0C0
1888
1887 g'boo 21,000 30.000
1886 7,000 34.000 41,000
92,000
24.000
44,000
46,000
Breat
Britain,
Caloatta—
1889
1888
4,000
4,000
Oontinent.
Total.
205,000
128,000
145,000
119,000
Total.
1.
Beceipti.
Thie
Oontinent.
SMpmenti for the week.
on three days Uadraa—
of the week, the rainfall reaching one inch and twenty-four
1889
1888
hundredths. Average thermometer 47, highest 70, lowest 24
Leland, JlW»«i*«ppi.— Rainfall for the week one inch and All others—
1889
forty-nine hundredths. The thermometer has averaged 63-4
1888
the highest being 84 and the lowest 29.
Vicksburg, Mississippi.— U has been showery on two days Total aU1889
Of the week, the rainfall [reaching one inch and ten hun1888
rain
Inch.
7
2
Feet.
New Orleans...
297,000
152,000
189.000
165.000
Week.
88.000
60,000
46.000
49,000
Since
Jan.
Shipment* tinee January
BriMn.
(Continent.
1.
493.000
297,000
333.000
303,000
1.
Total.
10.000
12,000
19,000
16,000
19.000
17,000
33,000
33,000
1,000
5,000
4,000
2,000
7.000
4,000
1,000
1,000
1,000
15.000
11,000
3,000
6,000
18,000
17,000
6.000
9.000
12.000
13.000
39.000
31.000
24,000
23,000
63,000
54.000
8,000
8,000
1,000
1,000
'
6,000
4.000
.
Fkbruaby
'
.
THE CHRONICLE.
98, 1889.J
The above totals for the week show that the movement from
the ports other than Bombay is 1,000 bales less than the same
week last year. For the whole of India, therefore, the total
ehipiuents since January 1, 18^9, and for the corresponding
periods of the two previous years, are as follows :
EXPORTS TO BUKOPa FROM AU, INDIA.
ThU
xromTSov ooiioa (balbs) r*oH Nbwtobx iiaoBHcrT. 1.18^8
Wttk ending-
B»porU4 to—
Jan.
81.
Feb.
7.
Feb.
14.
10.704 21.29123,729
3,922 4,563, 1,336
lotml
lint*
Feb.
21.
Sept.
jitar.
288,200
53 101,855 61,803
«J,713 332,01 T
1887.
TMt
ainee
Jan. 1.
Total to Gt. Britain. 14,626 25,854 26,065
6,766 433,866 350,003
Havre
1,246
teeek.
44,000
12,000
297,000
63,000
16,000
13,000
152.000
54,000
30.000
19,000
IS9,000
60,000
Total French
40,418
56.000
360.000 29,000
206,000
49,000
249,000
Bremen
Hamburg.
29,992
46,321
79,832
SiTiee
Jan.
teeek.
period
prcvi'iM
1.
Binet
Jan. 1.
Siiropt
from—
ThU
265
Liverpool
Other British ports...
1888.
1889.
BMpmenlt
to all
.
toeek.
1.
1,822
1,616,
1,436
40,418{ 24,306
300
Other French ports..
Bomliay
All other portt.
24,606
I
Total
—
Alexandria. Receipts and Shipments. Through arrangements we have made with Messrs. Davies, Benachi & Co., of
Liverpool and Alexandria, we now receive a weekly cable of
the movements of cotton at Alexandria, Egypt, The following are the receipts and sliipments for the past week and for
the corresponding week of the previous two years.
Alexandria, Egypt,
Feb.
20
1888-89.
1887-88.
1886-87.
50.000
2.4y8,000
36.000
2,724,000
45.000
2,727,000
1.
Thit
Since
week. Sept. 1.
Tkit
Keek,
«,000 1*7,000
5,000| 103,000
2,000207,000
4,000 123,000
9,000 216,000
2,000 113,000
Since
Thi$
Sept.
\eetk.
Since
Sept. 1
Exports (bales)—'
To Llverpooli....
To Coatiueult....
Total Europe
* A.
oantar
is
t
Totals since Sept.
1,
1888, revised.
11,000 bales.
—
Manchester Market. Our report received by cable to-nigh
from Manchester states that the market is quiet for both yarns
and sheetings, and that the demand in each case continues
We
below, and leave
this and last year for com-
:
1889.
Turitt.
d.
d.
1888.
S>4 Ibt.
Shirtinge.
s.
" 15|7iS,8-a8l,ei6
"22r7l5,g»8iig 6
Oott'n
8I4 tbt.
Shirlinge.
Mid. 32« Oop.
TuHat.
Vplds
d.
8.
97
®7
®7
®7
Jan.18 715,„®87,, 6
••
25 71518987 6 6
Feb. 1 ?l6,a»87,„6
8 Sljg 98e|a 6
ll2
II3
lis
2>a
«7 Ha
»7 IH
d.
d.
5»16
51a
51a
5»8
59l6
59i«
d.
8.
713,8^8716 5
7i3ie«87i8 5
713,8«87,8 5
7% 3838 5
7% •asss 5
75»a 838 5
Mid.
Vpldi
d.
9
9
d.
«7
®7
HJfla>7
5»8
5=8
59,8
5>a
59l8
59l6
lia
8
-97
1
8
8
»7
®7
1
1
—
Exports op Uotton Goods from Great Britain. Below
give the exports of cotton yarn, goods, &c., from Great
Britain for the month of January and since October 1 in
1838 89 and 1887-83, as compiled by us from the British Board
of Trade returns.
It will be noticed that we have reduced
the movement all to pounds.
we
Tiamdclhrtai.
OltttK
Total of All.
OOOt omitted.
188S-9.
188S-9.
Tot.Ut qaar.
Jannary
3,111
Yii.
409.98?
425.5(»
466,815
Lht.
T4.539
Lbt.
lio.ioe
Lbs.
98.773
77.378
101.281
103.1 2S
78,520
88,875
94,686
107.838
74,916 1,297.827 1.291.34: ^5,880 234.790
806.073
309,7Sa
101,652
97.778
25,74U
24,«»S
gl.705i
462,527|
435.840
3»8.880
431.429'
418,a90l 78.441
78,071
Stockings and socks
Sundry articles
788
978
7.294
7.785
Total exports cotton mannfactnres.
The foregoing shows that there has been exported from the
United Kingdom during the four months 415,707,000 lbs. of
manufactured cotton, against 416,273,000
a decrease of 566,000
lbs.
last year, or
lbs.
East India Crop.— From Messrs. Gaddum, Bythell & Co.'s
cotton report of date Bombay, Jan. 18. we have the following:
Our
itiarkf t hns been very steady during the week, and a good deal of
w»9 «"ld, principally to the looal uiilU. The good advices from
verpool and Aiiiertcabniiighl out more buyers, but owing to the ex
imc ligbtness of our luoui-y market, and the gfinei al anxiety of hold
s to reallzi', rates of Oomra (lo^triiptions remain practically the sami-.
iit-nsalrt are flnu— nior« so than the ircsent Bltuution warrants, this
Ix'iDc enilrcly due to the lurtje speculative dealing bj- natives. Broach
i» tirm; the advices of plenteous dew havjug fallen all over the district
havfi lirouglit alMiut a better feeling, and ail auxiely for tliis crop Is now
removed. Reports from the Western and Dharwar distriots ate still
tton
I
i
ftatisfaetory.
The Exports of Cotton from New York this week show
a decrease compared with last week, the total reaching
15,529 oales, against 33,393 bales last week.
give
Below
our usual tible, showing the exports of cotton from
we
New
York, and the direction, for each of the last four weeks; also
the total exports and direction since Sept. 1, 1888, and in the
last column the total for the same period of the previous
year.
3,635
9,050
10,271
12,885
28,918 33.392 15,529 649,700 535,015
Comparative Port Receipts and Daily Crop Movement.
—A comparison of the port movement by weeks is not accurate,
as the weeks in different years do not end on the same day of
the month. We have consequently added to our other standing
and monthly statement, that the reader may
constantly have before him the data for seeing the exact relative
movement for the years named. The monthly movements
since Sept. 1, 1888, and in previous years, has been as follows:
tables a daily
Receipts.
Year Beginning September
1888.
1887.
1886.
1885.
1.
1884.
1883.
Sept'mb'r 332,017' 654,776
359,203 385,642 345,445 343,812
October. l,133,016|l,213,404 1,034,450 1,055,524 1,090,38P 1,046,092
Novemb'r 1,159,0631,178,436 1,197,259 1,083,552 1,122.164 1,030,380
Decembri 1,103,713 963,584 1,164,886 1,069,920^1, 104,211 1,059,6.'.3
January
527,570
718,091
644,681
543,393
475,757
487,729
Total .... 4,145,900 4,537,770 4,400,479 4,138,031 4,137,962 3,967,666
Pero'tage of tot. port
81-80
86-64
76-68
82-71
receipts Jan. 31
80 99
This statement shows that up to Jan. 31 the receipts at tho
ports this year were 91,b70 bales le.s than in 1887-88 and
By
45,431 bales more than at the same time in 1S86 87.
adding to the totals to Jan. 31 the dady receipts since that
time we shall bs able to reach an exact comparison of the
movement for the different years.
1888-89.
1887-88.
To.Jan314, 445,900,4, ,537,770
Feb. 1....
" 2
" 3....
28,467;
14,182
8.
I
•'
4....
" 5....
" 6...
" 7....
" 8....
"
1888-9. 1887-8.
L2».
84.086
ae.OlOj 84.234]
22.037
22,16«
18S7-8.
Yia.
hbn.
October
November...
December...
8,101
.11,163
for to-day
give
the prices
those for previous weeks of
parison
32* Oop.
.
Uonthly
This statement shows that the receipts for the week ending
Feb. 20 were 50,000 cantars and the shipments to all Europe
poor.
156,145 147,721
8p'n,Op'to,aibr'U'r, Ac,
AU other.
Total Spais, Ac
7,059
5A,422
85,240
6,000,330,000 11,0001329,000
11,0001290,000
98 poonds.
Total to No. Europe..
Grand Total.,
Receipts (cantara*)—
TUla week
Blaoe Sept. 1
Otber ports.
9....
"10....
"11....
"12...
"13....
"14....
"16....
"16....
"17....
"18....
"19....
"20....
"21....
"22....
21,695
20,706
16,209
17,733
33,822
21,007
8.
25,959
22,430
21,659
15,538
29,077
15,779
S.
19,534
21,033
15,603
14,001
16,253
18,630
6.
16,930
20,679
13,914
12,668
16,288
14,078
S.
15.062
17,423
10,439
12,170
14,966
11,321
8.
1886-87.
,400,479
23,654
16,569
11,183
34,497
17,695
8.
19,509
22,913
7,941
13,227
26,972
15,860
8.
11,363
14,875
13,092
12,203
19,189
9,013
-"I
10,89:
10,111
19,001
10,208
12,724
10.928
8.
21,880
17,841
Total .... 4,832,734 4,812,054 4,729,966
Percentage of total
88-90
85-89
portrec'pts Feb. 22.
1885-86.
1884-85.
1683-84.
,138,031,4 137,962 3,967,666
13,650
S.
19,321
24,095
10,524
21,620
22,073
14,260
S.
18,973
19,626
18,885
15,970
18,078
17,022
8.
23,533
16,140
13,821
12,126
19,877
16,172
S.
15,678
,475,830
82-93
10,419
15,848
14,439
9,087
28,9921
8,862,
8.
14.972
10,601
8,348
11,257
14,581
9,184
S.
13,415
8,523
5,490
7,183
10,529
3,634
S.
14,678
S.
19,676
16,604
18,847
17,453
24,223
17,925
S.
19,319
15,790
10,975
15,754
26,158
10,828
S.-
10,397
10,937
8,027
8,047
16,777
,343,376 4,263,731
90-93
87-90
This statement shows that the receipts since Sept. 1 up to
o-night are now 20,680 bales more than they were to the same
day of the month in 1888 and 103,779 bales more than they
add to the
were to the same day of the month in 1887.
table the percentages of total port receipts which had been
recrived to Feb. 32 in each of the years named.
We
—
SHiPPisa News. The exports of cotton from the Uniieo
States the past week, as per latest mail returns, have reached
100,184 bales. So far as the Southern ports are concerned, these
are the same eTOorts renorteid hv telegraph and published in
the Chronicle last Friday. With regard to New York we
include the manifests of all vessels cleared up to Thursday.
Total baUt.
Nbw York— To Liverpool, per steamers Aurania (addltioDai),
991 ...B'lgraria, 869 .. BritauElo, 2,427.... Donati, 842
... Umliriii,7H«....\Viscon8lu, 818
6,713
Ludgato Hll', 50
53
To London, perstcauifrs Canada, 3
1,246
To Havre, per steamer La Gascogue, 1,246
—
:
.
;
.
....
THE CHRONICLE.
266
Total halet.
2,027
To BremRn, per steamerg AUer, 1,000 ...Elbe, 1,027
J-ii
To Hamburir. per steamer Wiebind, 931 ....
To Rottciflam, per steamer Veendam, 1,412
k'Xin
1,730
To Antwprp, per steamer Rhr'ilaiia,
'ii.n
*™
To Coiienhaircn, per stearai-r Islaurt, 450
To Genoa, tier stramer Brittanla, 947
v,VVV,Viin"""'
Alicia, 6,650....
Niw OKi.RANS—To Liverpool, per steamers
.:..............-.---• 12.122
„,^ American. 2.6ia... Caribbean. 2,8S9
To Havre, per steamers Glenosle, 9,415 ...Rosarlan, 5,223
....perchip Riverside. 4,276
To Bremen, per8teamerTopaie,S.366.......
...._..
MOBILK-To Liverpool, per steamer Cljir^", 5,430
Savannah-To Nordtfoplne, per bark Jorgen J. Lots, 1,975
Mlenmore,
3,561
Charlksto!*— To Lverpool, per steamer
To BremeD, per steamer Domira, 4,173
.To Odessa, per steamer Gilsland. 4.710
GALVESTON— To Bremer, per brig Dr. Lasker, 430..........^-..
1.309..
..Lake WinNorfolk—To Liverpool, per steamers Gem,
Asaph, 608 ..per bark Innerwleh. 4,140
Wbst PorKT—To Liverpool, per steamer Carliis Bay, 4,500......
Asapb, 6,737...
if KWPORT News— To Liverpool, per steamer St.
Boston—To Liverpool, per steamer Venetian, 2,620
To Halifax, per steamer Worcester, 4
To Yarmouth, per st<Mimer Dominion, .54
BAtTiJiOBK— To Llven>ool, i»er steamer Mentmore, 4,012
To Bremen, per steamer America, 1.029
To Rotterdam, per steamer Albano, 445
J^ILADELPHLA— To Llveri>ool, per steamer Lord Cllve, 1,633
^2-oJ«
S"???,
&,4dO
1.9/d
?,S5
I'iin
'Tin
4JO
vonl.
Hew York..
6,713
V. Orleans 12.122
Mobile .... 5,430
Savannah
..
Charleston .
Galveston..
Norfolk.. .
West Point.
NSvp't Nws
3,561
6,737
2,6^0
4
54
4,012
430
6,9
53 20,159 13.956 6,032
..
U
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing our data down to
the latest dates
OiLVESToN— To Vera Crnz— Feb. 18— per steamer WTiltney. 1 251.
New Orleans—To Liverpool -Feb. 16— per steamer Meronant, 3,041....
:
Feb.
18— per steamer Serra.
5,000.
To Havre-Fcb. 16— per IrlRTereslna. 1,063.
To Bremen— Feb. 15— per steamer Mark Lane,
8, 375.... Feb.
18
—
per steamer Erl King, 4.200.
1
Futuret.
13-per sieamers Kansas, 1,186; VirginFeb 15-per steamers Palestine, 1,959; Pavoula.
Feb 10— per steamer Michigan,
Philabelphla- To Liverpool- Feb. 19-per steamer Pennsjlvanla,
.
.
Below we give
all news received to date of disasters to vescarrying cotton from United States ports, &c.
Albany, steamer (Br.)— Pilot boat Louise Harper took to Wilmington,
sels
O. Feb. 4 from Southport, 99 bales of the cotton Jettlsoueil
from steamer Albany.
ALicit. steamer (.Span.)— A lire occurred on board steamer Alicia, for
N.
Charlefton for Odes««, which cauuht tire
u^ Jan. 4 in the forward h(ld, while lying In the stream Feb. 13
awaillni; tide, was again discovered on tire in the alter hold, and
lowed back to Charleston. The lire was got under control. The
discharge of the cotton from the after compartment was begun on
the I4tb, and will be continued until the whole number (about
1.400 bales) has been removed. Aboiii (iOO bales were taken out
on the 14th. Of this number V5 bales bad been liadly burned the
rest of the cotton was apparently onlv damaged by water.
Extra, steamer- Captain Davis, of steamer Kxtra, reports that while
fomingdown the Sabine River Feb. 11 Avith a load of c<iiton, the
cotton took flre near the engine room, and about 67 bales had to be
thrown overboard. It was afletward recovered in a burned and
;
wet condition.
Cotton freights the past week have been as follows
AKur.
I>0
sail
Jfon.
''2
'33
»..
»1«
>
>jl
>••
.*.•
«.
>»
>*
vlaLcithd.
>••
....
Hunbnrg, gteam.c.
»•
\
Bremen, steam..
Do
e.
•
Tut*.
Wtdnei. Thur:
»i«
'16
»ie
>3
»a
>s
>S
^
H
H
>s
V
52 ij*
h»
*!•
>i
DoviaLondon.d.
Amst'd'm, steam. e.
82V
DoviaLondon.d.
Beval, steam
d.
*>>•
Do
sail
d.
Bmrcelona,«team d.
Sraea, steam... d.
»1.
52
V
"t.
52
52
^H.
a
V
'is
....
%
%
»1S
'»!«
Trieete, steam... d.
^
^
Antwerp, steam d.
• Per 100 iba.
7«,
7m
•8
i%
*I«
ts
*»
H
'ta
^ia
Fair
business
doing.
Ik
»18
5»18
5»16
5»ie
5»i«
10,000
1,000
8,000
1,000
10,000
12,000
1,000
7,000
1,000
Quiet at
Qutet at
Dull.
•5»,6
500
1-64 dec.
1-61
Quiet and
LIVEHPOOU—By cable from Ldverpool we have the foUowlag Btatenjent of the week's aftles, gtooks,
&c. at that port.
Harden*K.
500
Steady
1-64 de-
adv.
Firm.
steady.
at
1-64 ad-
partially
1-64 dec.
oUne.
anoe.
Quiet and
Quiet and
steady.
steady.
Steady.
The opening, highest, lowest and closing prices of futures at
Liverpool for each day are given below. Prices are on the
basis of Uplands, Low Middling clause, uolese otherwise stated.
igr The priea art given in fence ana fHUu thue ; 5 63 meat.'
i 63 64d.,
and 6 01 meatu 6
l-64d.
9al„ Feb. 16.
Open High Low. OI09
A.
September
B38
5 33
5 35
6 33
6 33
6 33
WedneB., Feb.tiO.
Open' High Low.
Febroary... 586
Fab.-Marota SiHI
6 3t
\lar.-Apiil
Apni-May.. 686
May-June.. 5 36
laoe-July.. 6 86
July-AoB... 6 37
Aug
-Sept.
September
683
535
Olot.
d.
d.
6 37
6 37
6 36
6 36
8 31
5 37
5 8^
6 86
6 36
nion., Feb, 18.
Taeii.,
High Low.
Open High
Opeti
It.
lU
d.
d.
5.36
5,H7
6 BO
6 35
6 35
5 37
5 36
5 35
6 35
6 85
5 Si
5 36
6 3*
6 34
6 37
5 33
6 36
635
635
5 31
5 35 5 3«
636
533 5 36
6 36
535 6 36 6S6 6 36
635 686 3 86 63(1
'
538
5 37
6 38
5 34
635
534
5 35
6 36
Thurs., Feb.
i.
d.
5 3»
811
8 89
6 40
540
5 88
6 39
6 87
5 37
5 37
5 38
6 39
6 87
5 37
5 37
5 36
5 86
6 36
5 89
6 38
5 38
639
538
586 3 36
SS-l
6 as
6 36
5 86
6 37
6 3^
3 37
6
63S
535 536
5 36
5
5 37
5.36
.111
638 588
Xjoib.
Ctes.
-t.
5 3«
5 36
5 35
3(1
536
6 33
5 35
6.36
5 36
5 33
6 35
6 33
5 3B
6 87
5 33
533
635 6 33
536 5 35
6 37
6 35
5 38
6 34
6 34
534 535
FrI.,
Feb.
636
•it.
Open High Low.
Clot,
d.
4.
It.
5 40
6 39
8 39
5 39
6 40
6 40
6 40
6 39
5.39
839
5 39
5 39
639
6S9
6 40
5 40
6 41
B33
6 40
6 40
6 41
6;>8
5 33
S38
5 39
5 39
6 40
6 40
5 41
5 38
5 38
6.39
ba-i
I
6
636
6 33
I
Feb. 10.
4.
636
-.21.
Op<« ?tah Low. Cfau
It.
586 5 37
586 6 87
Ctot.
iL
d.
d.
535 6 SB
FdD.-Harch 5M S84 534 6 31
5 33 SSI 5 33 5 3<
Har.-Aprll
4prll-May.. 5 3.3 6 34 533 6 81
May-June.. 588 8 3* 5:>3 5 84
laae-July.. 5 34 S34 631 6 84
Jaly-AuK... 6 35 5?6 6 36 5 33
Auff.-Sept.. 9 38 583 5 33 583
February...
6
6
5
5
6
33
S3
39
S9
37
6 37
6 11
6 33
5 88
1
6 40
6 40
BREADSTUFF S.
Thursday,
P. M.. Feb. 21, 1889.
and meal hive been without important features this week. There has been a fair demand from
the local and West India trades, mainly for the medium and
better grades. The low grades, suitable for European export,
have continued dull, and the range of prices is consequently an unusually wide one. Favorite brands of patents
have in some cases brought more money, while in the coarser
To-day the whole market
stuffs there was some depression.
was quiet.
The wheat market has been quite unsettled. Considerable
purchases reported for Recount of home millers here and at
the West (not fully confirmed) have at times served to support valU' s. Buying for export to a small extent has served
Tttus we see how seaaitive the marthe same purpose.
Crop accouats begin to have some effect.
ket is.
Early in the week a report that sleet and hail had
fallen ui on the unprotected fall sown fields in the Northwest caused some advance. These were succeeded by reports
that snowfalls had afforded nteJed protection to the younj
Neither paity to the speculation
planf, and ptio€ 8 declined.
shows any degree of couQdence, Wheat on the spot has ruled
rather firmer, Tc-day the market was dull, drooping and
The markets
for flour
unsettled.
DAILT CLOSIHO PKIOES OP MO. 2 KBD WINTEK WHBAT.
Thnrt.
Wed.
Sat.
Hon.
Tuet.
Uamb delivery
April delivery
May delivery
Jiini.
deUvery
e.lOO
o.lOiaj
1 02>«
o 1 02'a
OSH
99ii8
1 OOJti
lOlig
OS's
9914
COM
1 00>a
1 Ol^s
101»a
101=8
98
1
101%
98»»
100
1 01>«
101J«
Fn.
=
H
c
&
97i«
S,
9714
c.
99
97"b
97>8
97'«
97»8
December delivery
0. 98^
97«8
Indian corn has varied but little, and yet the market was
generally called irregular and unsettled early deliveries
showing srme strength, net tieinif plenty, while May options
were exceptionally weik,.under free oSeringd, The current
July delivery
Tj2
Friday.
6,000
(Br.), at
Uverpool, steam d.
DovlaGl'sg'w.d.
Havre, steam.... e.
Wednet. Thurtd'y.
p,
Market,
4 P.M.
Llvei7)ool, at New Orleans Feb. 11. Damage very slight. £ight
to ten bales damaged.
Bekbback, steamer (Br) -2.44 4 bales of cotton have been landed from
the British steamer Beubrack, from Savannah, ashore at Te.vel.
The cotton was taken to Nlenwe Dlep. 1 he steamer has broken up
CHAsrELi OR, ftearaer
5%000
252,000
156.000
Stead;.
SteadT at
Market,
12:30
LI verpool - Feb.
To Antwerp— Feb. 19-per steamer Neierland,
161,000
19,000
3,100
1,600
41.000
9.000
69,000
732,000
578.000
77,000
Dull.
Speo-Aexp.
Ian, 2,431
2,H08
22>t,000
\
Sales
9— per steamer Lake Nepifion, 2,8 18.
BOSTON-To
I
«ld.Upl'ds.
To HambiirK— Feb IH— per steamer San Juan. 1,471.
Mobile— To Liverpool— Fob. 16— per steamer Caloric, 4,895.
(CHARLESTON — To BrHuion— Feb. 1 .5— per 8te,amer Guy Colin, 7,125.
Norfolk— To Liverpool - Feb. Ifi— per steamer Oxenholme, 4,195
Feb.
6i<,000
691,000
558,000
81,000
68,000
Saturday Monday. Tuesday.
Spot.
Market,
12:30 P.M.
58 100.184
5,657
Feb. 22.
51,000
2,000
2,000
44.000
9,000
75,000
733,000
587.000
126,000
97,000
231,000
156,000
The tone of the Liverpool market for spots and futures each
lay of the week ending Feb. 33 and the daily closing prices
^f spot cotton, have been as follows
4.500
6,737
2,678
5,486
1,633
58
64.?69
Total
Of which American- Estlm'd
r Jtal Import of the week
Of whioh American
moant adoat
Of which Amerioan
445
1,H33
100.1S4
430
445
Actual export
P.jrwardel
Tacal stock— Estimated
Feb. 15.
73,000
2,000
3,000
61,000
6,000
'^'**^?
R'dam, BareeBrem.it Ant- lona. HaHf'tx
Ham- we'p, Odentn, and Yaritc.
mouth. Total.
<ec.
don. Havre, burg.
15,529
947
53 1,246 2,9 =.S 3,612
36,401
18,913 6,366
5.430
1,973
1,975
12,444
4,710
4,173
1,029
.
Feb. 8.
49,000
2,000
2.000
42.000
12,000
84,000
6S5,000
554,000
78,000
50.000
207,000
156.000
:
Lon-
6.941
4.W10
6,737
2,620
Boston
Baltimore.
4.012
Phil'delph'a 1,833
bales
Of whleh exporters took
Of which speculators took.
Siles American
4,5''0
The particulars of these shipments, arranged in our usual
form, are as follows
Liter-
Feb. 1.
We« of the week
6.911
nipeg.SS.'i.... St.
Total
iLvm.
[<9oL.
:
—
I
1
Fkbeuary
140. for
March and
lowing,
January.
o.
o.
0.
o.
44<4
43i9
43'4
4:V«
i:i>»
4y3»
41U
*}'*
«8>a
43i8
4^f«
43"4
SrnHttufi Bxptt
Fn.
<}]*
43at
a
4.J»«
5
3m
TufJi.
Wr.d.
Msrch delivery
0.
Alirll (iHlivery
o
MaydeUvery
0.
31
S05i
31i4
SOTs
3l»8
32>4
b2's
3l''9
31''g
30%
265a
a
£
B'>lllOD
Philadelphia..
Balllmore
•<
Bprlnic
wheat extras.
Mlim. elearanrtstrVt.
WlntorHbliip'K extras.
WlutwrXXandXXX.
Pitenm
Bouthem supers
Soatb'n oou. extras..
30* 3 75
3
"^ow Orleans..
Pac, oust, dIatB,*
Other CUB. dlBt8,+
Total,
per bush... 90
BpnuK No. 2...._.1 07
winter
Mo.2... SI!)
Bad
f8
Redwlnter
eprlni;,
White
Ojm— West'n mixed.
Wegt'nuilxertNo.2.
»1 10
»101
Oat»— Mixed
9107
110 ®107
40 a 46
44 9 4t!
Steamers (). 2
4ma
Western yellow....
Western wUito
Southern white
41
41
«
«
»
White
5 00
3 v.'
2 1h
2
7O»2
2
90»
Barley-C'nada No.l
CauailaNo. 2
Two-rowed State..
81x-mwed State
Buckwheat
46
40
....
768.446
7.100.692
1.701,366
Wheat.
30
»
'»
»
»
33
78
74
70
72
50
9
a
«
«
«
«
53
55
2»
0at<.
Barlty.
879.0; 4
Phc.
12.44
10.241
4 .246
77.890
3.585,216
1, 717.862
9.342.171
i.390.830
1,619,018
900,636
31,134,599
15.H79,a«8
14,176
8.594
S0.441
21.473
6.477
20.621
18.992
450
93
:f8l
84.986
84.836
85"
274.W8
6.1 74
15(j
14
511
847
125
6<2
74
'2,746
"2,04«
5.088
diets,-*-
Total, corn-meal
OaU, Inuh.
a29.!iea
1,111.617,
221,207
806.633,
5.819
6.700.471
«.S.F(10,9IS
72,459,117
e,»;0.2>K)
77.S0a.S18
51.921.748
165
70
32.119
16.27U
12.850
6,162
7.251
55
57
32
38
Total, oats,...
63,867
24,925
17.6fc5
374,692
9,046
83.879
582.780
8,89-
31>3
34'4
Baltimore
444,920
907,479
31,<95
960
28
80
77
72
74
53
Pac, cast. di»t3.*
5.500
170
3,567
"3,600
19il,7e0
,933^331
!;7,104
723,639
dlstfl.*
OatmetU,
65,al».72ol £3.733.79
B
...
New Orleans..
Oihercas, dists.
Total, oatmeal
560.686
34.364
81
80,401
2,475
246
45
.»
1
SI.s
l.-t2.i
227.18-^
1«
81
91
61.817
H6J»19
8.2S'
429,016
173,0«8
2,477
18.690
818.715
18.5.16
1.456.714
1.5»5,3i0
41.8SS
118.616
1
3.505
103,500
'
'
lliB
84,681
998,679
766
38,489
1-3
1.510,
61
S9,600i
274,780
1.867
5.412
6.170.348
140.042
7.OOO1
4.200
U)0,339
53.581
R\/e,butK
New York
"
" 700
Ho
'
Philadelphia...
Baltimore
New Orleans. .
Pac. cust. diSts.*
Ocaercua.dlsif
,-1-
Total, rye
iraeat, inu k.
4.800
2.100
4 200
2.100
700
410
107,339
67,784
82,237
83,982
714,539
83,485
lt5.50U
693.46.1
7-4.207
4.590,774
4.441.708
21li.'-HJ
2H,H.'!i
5311.9 HI
8i«,».V^
2,«5-3.»Jl
2..-0">.V03
Boston
RV*
Philadelphia..
'
Bilttmore
116.505
16.335
Vew Orleans.,
Pac, cust, dbts.*
Total, wheat.
ie.'iiii*
2,93l>.-IB;
15.200
117.931
15,290
IIT.SSIl
f.l3.»03
»7i.52l
76.093
1,629,8**
32,000
71.75'
1,3,30,742
2.1,120
870,856
8-^0.876
2l,2^o.3,'^;^
18.976.010
l.ii-30,6.-i2
989.982
2,913.20
2,511,159
32.119.S9I
29,39O.B0«
473,424
120,390
55.867
2.159.234
2.020.97(>
OrtO.ll??
8il5.-.i0li
9.319.653
4,466,361
836.661
b29.06,',
1,4.S2,(M2
t87,a;e
20.272
22'J,9S3
1.129..'iS7
1.104.748
13.418
2S.-iOz
5.I-4H.9M
109,740
3,371,621
2,60).65-i
13,027
13.0i7
3,173,596
2,8i0,0S2
vyther cu8.dl8ts.+
Wheiit-fiour, bblt
New York
256,983
107.1UB
Busion
Philadelphia..
18.9.M
102.43'
Baltimore
vew Orleans.,
8.40.)
1.25l!.5»-
6110,655
8:1,463
Pac, cust. dIsts.*
162.842
30,'.aj5
4&2.499
136.110
81i.-.i»«
2-).512
721 .o«0
148,181
118,279
U(.haroua.iiist8.+
467.995
2.'21>9.18J
rotal,wheat-flo*r
6I- 5,244
3,417.2.54
l.(W3.923
4.7^8.^46
6.565.394
26.817.385
31.443
Tbtals.
21,582
New York
20,195,302
8.089,5 11
Baltimore
18,653,140
1,437073
Hew Or leans
1,480,551
Pac. cnst. dlats.*
Otherous.distf
17.237,039
195,180
4.0.34
930
>StOD
Philadelphia..
37l,73t
40.1186.195'
neo
22
2S.68:
Uj».
New York
161.361
51.673,434
45,6^2.613
2 895
8,041
45.451
s.iei
v>ther ouB. dlats.t
Philadelphia
18H--9
2SIJi5.1
0.
Boston
6.201.372
79.5-5
15.270
12
Vew Orleans..
1,130,881
1.570.023
1,245,337:
1»7.S
i8se.7
88,671
31
Baltimore
49,601
6,474,853
1
(sust. dists.*
Other COS.
444,654
48i,750
3,413.980,
480,6*2
2.H69.324
2,211.625
28.4<2
160>4
Boston
Com.
4,15:;. U-;
633
620
a
j
153,774
3.2211,426
H62.6I3
5.H2O.710
177,3»2
6
18
BWt.I»«lt» Bu«h.«<> Ihi- flu«(i.5« I*. BlMh.32 lt>.i Bu»)l.4816 Bu. 56 Il»
8t9.l»2
270.37S
1.831. S52
33,650
128,320
6!?,388
Oblosgo
iio,4;s
89.030
63,000
4.180
m.Wh
45.60*
Mllwauke*..
24.111
UfiU
Dolnth
4IW.-20
Ulnneapolli,
I4.2i9
524
4.013
876
2.4S0
60.201
Toledo
41,833
233.S57
19,0^9,
6,292
2.463
Detroit
BOO
1 8,029
B.52S
8.5071
21,999|
2.834
Olsvalanil. ..
286.355
S3,0W
1,100
iO.ilfi
1.302,820
8t.Loiil«
77.534J
818,000
21.000
9,350
43.500
447,800
S,17(l
P»r1a
Tot.wk.fB.
B»mewk.'88.
Bamswk.'ST
Since Ant. 1.
5aS.878
3.S.845
Sa.»57
814.740
185.861
Philadelphia..
of breadstuffs to
FUniT,
2I4.S',I2
7»»
New York
tUuivt* at—
2S2.'A2
1.844.095
880.178
Boston
market is indicated in the
statement below, prepared by us from the figures of the New
Yoik Produce Exchange. We first give the receipts at Western lake and river ports, arranged so as to present the comparative movement for the week ending February 16, 1869.
The movement
1.2B6.242
13.533.241
Now York
90
16031 200
SO^a
No. 2 mixed
No. 2 white
i'i^
14.175
806,652
NeworleanB
o.
Western
» bu.
Hiate&Jersey
»1 25
oom
Pac. cost,
Rye—
o.
28,953
486.644
66.712
nl.429
IM3.9U0
815.712
Baltimore
4 30* 5 75
3 409 3 R5 Oom meal—
40ii» 5 50
Westora, Ao
Branilvwlne
.^509 685
3 004 3 45 Buckwheat Hoiu:, per
lOOlbs
3 50« 4 00
o.
11.354
1,508.148
Corn-meal. bhU.
OBAIK.
Waeat—
20,024
Pailadelphla....
25»
009
50»
765.'wt9
3.181.498
B12.I35
514,686
3.5{M.ie7
1,175.785
Boston
family brands.
**
Rye Hour, guperflne.. 3
2
Fine
78
1.25«.^ui
Vorn.bluK
New Vork
New Yort
Sotithem bakers' and
f<5
3 40
14.175
28.058
9S.026
Other 0U8. dlsts.-f
PI/XTB
bbL $2 2S»$2
42
^^«w Orleans
feature of this season's business.
Tlie following are the closing quotations:
If
53
I'HC. cu«t. dlstfl.*
Rye and buckwheat have been dull and drooping. Barley
has further declined, showing some demoralization and irregThe comparative cheapness of tine grades is a
ularity.
Bipertlne.
6(1
Hiiltlniore
Fri.
3t»8
31'b
Hrmtht,
(/uonlitlM
Philadelphia.....
Total, barter..
Thiir:
Valu«.
Boston
DAILY OLOBINO PRICES OF MO. Z MIXBD OATS.
!Kon.
Qfi'ntitU4
New York
—
Sat.
Value.
Barley, tnuh,
43''«
41
Snen
l^'ntltlu
41'«
w,
41
43^
Oats have been depresied, but the most decided decline was
this being the principal
in white grades for promp: delivery
cause of the depre-sion in mixed grades. To-day the market
was quiet but steadier.
Hoe
267 T
413'll>ii!. toe April.
DXILT CLOSIMO FRICCS OP HO. 2 MIXBD CORK.
Wert.
THun.
Triet.
Sat.
Mnn.
Marrli delivery
April aeUvery
Mavilellvprv
June delivery
1
e:xpobts of BRBAOSTurpS FOB January, 188'<).— The foU
made up from the statement iamied by th« Bureau of
Statistics, shows ttie exports of domestic breadotuffs from the
under- mentioned customs distriots of the United HtatM for
1889 and 1SS8, and lor the tawaa
tlie mouth of January iu
months of the flical y«ar 1888-89 :
for export, nn well ai from the local trade, has not
been active, the situation ofterina; every imluoement to
buyers to limit their dealinKd as much aa pojsifcle. To-day
the market wai mire active in all its phases— HpepuUtive, expoit and lioiiie trade— at very full prices, inoludinj? about a
million biiHhels of "steamer," No. 2 at 41)^0. in elevator,
1
f
THE CHRONICLE.
23, 18t9.]
demand
^
—
,
...
,'t'
2,914.,8-8
874.,490
322.,533
8,883,,603
6-i9,,512
3.350..619
3,186.483
857 551
24S,547
8l'2.102
87 1.769
1.662.383
250.6n2
1.811.352
2; .193.843
6.946.348
2.791.867
11.364.796
3.l4'^.e51
23.194.988
5.180 .265
73814.700
8.3i3.2f8
Of»nrt t,o*,aI
The visible supply of grain, comprising the stocks in granai y
at the principal points of accurnulation at lake and seaboaid
* Value of exports Irom PaciSc districts for the month of Jannarj, IS.'-O:
porta, and in transit by water, February 10, 1889 :
I3S4.41B
Oregon. Oreeon
»7i.758 Willamette, Orenon
PugetHound.Wa'h'n Terrify, 179,107
Oats,
Wheal,
Oom,
Rye,
Barlet
T^T^T^Tni
J3.360.618
2.711.0SH
Total
San Kraucisoo, (^allforaia
hunh
in atore at —
bngh.
hnsti.
h^igh.
husk.
Hew York
8,388.B10 2,3.->2,7 14 1,691,837 130,323 184,580
+ Value of exports from other customs districts for the month of Jan.. 1889:
Do atloat...
96.0U0
5S.100
26.(100
78,300
57,300 Srasos. Texas
»1.496 Klohmond, Virginia
*S'7J,2
Albany.
90,.^(;0
27,01)0
3;i.9»9
34,000 10'',100
1 ,0(10
OetrQit. Michigan
6..996 Yorktown. Virginia
Bnllalo
27,947
2,881,042
163.719
70,807 361,713 Huron. Mlchlgnn
70.151
. .^, ,,
»337.554
Now llaren. Connecticut ....
Do afloat
6.212
Total
27,000
117,951
Clii"HKo
4,445,217 2,820.837 3,580,551 f 59,023 187,661 Portland. Maine
NoTt.— This statement Includes about 07 per oeat of the eniire exports of the
Do
afloat
462,971
articles
named
from
all
ports
of
the country.
HUwaukee
814.210
13,225
27,819 244,982 230,020
Dolatn
1.4*<fl,098
126,561
41.404
Toledo
372,027
59.261
1.774,518
40,935
Detroit
440.729
765,924
39,923
5,739
44.754
OsweKO
30,000
310.000
St. I>oul<i
79,805 181,219
2,785,330 4 6S.624 009,648
Do afloat
55,000
NEW York. Prldar P. M., February 22, 1889.
Olncinuatl
20.000
20.000
102,000
61,000
fc3,000
3'28.6.')5
There was a large influx of retail buyers from interior
Bocton
37.411
36,113
5i7,405
2,043
Toronto
208.45,-t
126.319
1.213
3,994
of a
Monacal
485.291
37.344
42.326
66.971 markets the past week, and despite the intervention
Philadelphia
87H,«5«
355.612 158.847
legal holiday Washington's Biithday the volume of bus'Peoria
137.501
154,988 505.303
08,982 101.734
nees in jobbing circles was fairly satisfactory. Retailers who
IndianaiMills
11.0(10
296,476
22,541
6,843
Kansas City
I(t2,312
207,895 231.H42
10,066
have lately arrive I in he market are not at all speculatively
Baltimore
9.'i,.'i53
1,201,751 1,602,563
17,185
Mlnneajiollg
6,794,488
2,806 147,142
6,100 inclined, but their preliminary purchases for the conoiog
81. Paul
2o5,000
ceason are beinf; made with a Kood deal of freedom, considei •
On Mlaslsalppl
161,8*2
88,260
ing the demoralizioc: effect of the "cut rates" on certain
Tot. Feb. 10, "SO. 33.435.466 14,588.405 8,155,103 1,712.733 2,162.159
9, 'SU. 3l,l!iO,37t> 14,035.108 8.079,5:29 1,«97,916 2.236, >5i 5
T.>t. Fel>.
makes of plain and patterned cotton fabrics lately published
Tot. Ffb. l-<, '88. 3H,.561,709 ><,231,J91 4,9"n,(,02 367,016 2,737,523
by Western jobbers, and immediately respondei to (on betti r
44.i,i4.i 2.097.707
-t. Feb. 19. '87. 59,88<l,-)68 :6,.56>,),794 4.871,405
r)t. Feb, 20, '86. 52,^41,839 8.867,578 1,997,150
089,052 1,570,935 terms) by their competitors in this city. The singubr feature
:
I
.
1
-
I
THE DRY GOODS TRADE.
—
—
1
I
* i<ast
week'a 4U)($ks
;
tUi4 weok'a not received
of the late
war
in prices (wAioh hi»
now
aliacMt ceas,)d) is tlias
M
:
THE CHRONICLE.
268
XLVra.
[Vol.
and doeskin jeans were in light request, and there was rather
more inquiry for fall cloakiags. Flannels and blankets were
quiet, as usual at this stage of the season, but there was a fait
movement in all-wool and worsted dress goods and in spring
reduce
the mUl agents have not shown the least disposition to
no
current quotations, and jobbers have therefore derived
" cut prices." At first
profit from their recent indulgence in
hands the demand for staple and patterned cotton gooda of
domestic manufacture was steady bjit moderate. Domestic
woolen goods were in fair but irregular demand, and a steady
business was done in some sorts of foreign fabrics by import;
shawls.
Foreign Dry Goods.— Although characterized by a good
deal of irregularity, there waa a very fair demand for foreign
goods at the hands of importers and jobbers, and the market
retains the steadiness of tone reported of late. Dress gooda
were fairly active in movement and demand, and prmted
pongees and China silks were freely distributed; but plain
dress silks ruled quiet. Linen goods were only in moderate
request, but prices are firm here and at the sources of supply
in Europe, Men's-wear woolens and worsteds were fairly
and jobbers.
Domestic Cotton Goods.—The exports of cotton goods from
packages,
this port for the week ending Feb. 19 were 4,361
era
valued at |249,937. These shipments include 1,050 to Africa,
950 to British East Indies, 908 to China, 439 to Great Britain, active, and steady in price.
Importations of Dry Ooods.
388 to South America, 303 to the West Indies, 137 to Central
America, 106 to Mexico, 83 to Antwerp, 24 to British North
of dry goods at this port for the week
importations
The
America, 23 to France 13 to Germany, and 2 to all other ending Feb. 14, 1889, and since Jan. 1, and the same facts for
countries. Since January 1 the exports aggregate 31,990 pack- the corresponding periods of last year are as follows
ages, valued at 11,266,634. Of this total South America has
g
w
^
g
s
^
g
had 6,040 packages, covering a value of $400,152, and to China H H
the shipments have been 5,878 packages, valued at $255,087. E
E 2g Igslil
o
For the similar period of 1888 the exports to all ports reached
"1
1^ 1
pP§
34,840 packages, valued at $1,443,953, China taking 11,376
f
a
B g
while
South
America
had
of
$536,571,
§;
o
packages of the value
^
c3
i
03
S;
3,943 packages, valued at $257,970. The shipments for the
1 1
¥
packages
and
in
1886
were
24,913
1887
time
in
s
correBponriing
v
I
IB
^:
:
reached 80,038 packages. The demand for staple cotton goods
^
3
Kl
prices
ruled
fairly
light,
but
0
to
comparatively
was
hands
first
at
lO
^)
(T
tool
CO M to M
M
CO
M
10 —
CO
steady all along the line, and etocks are in pretty good shape,
00
OOWMl^OO
WMCOOOO .fr '^^ n
OJ
QDQO
wiotowo
GD W
Cr
>-'-Jl0^^b^
ow
toocsoo « P-tS
as a rule, despite the late lull in business. The jobbing trade
aiOQDCOh05
*»bO
OiCOMOrf^
tt^O
tfKl
to
05
was of fair proportions, and "cut prices" were less common CO .«
^h-f-'tO
CO
to CO 0:
H CO H
W05
OS
tnan of late, the mill agents having in some cases put a veto o CO to ^ICiHQDCO
CO
-q CO to CO C.
00 05
QD<1WOCO
S n^
Qoa
*^pCOCOCO-99
CO -^ U< CO to
g to 10 05
upon the foolish and unprofitable (to jobbers) practice. Print <p
CDSCJ.tO
co'tnos
Qo'co'ItiVjb'
coco
o
cloths were unsettled, and prices for 64x64 "spots" and "near
01-100W ^ OI tow
r.
«
^tf..,^.C;iO
COCOCCOQO
UiOSCO'^CD
cc
COO
hi
w wo
futures" declined at one time to S^c, but subsequently re8i^@3
9-16c. for
covered to 8 15-16c., at which figures, and
H
CO
a H
001— M*-"!-*
CO
CO
QD
a! nn
56x60s, the market closed steady. Stocks last Saturday and
Cn^tfi-pO'W
MCOh-*"*>
h-tOtOWpi
to
00 JC
CDOf
CO
J
s
ht
"bico
CO lob 00 M
for the three previous years were as follovrs:
OMOlo'rf*1
Ol-^COCO
m to osa tooiooico
OiM OC0(f>.MtU
09
*QDOiiP-CPM
*3Oi*».C0D
ifC ^tf^iKif^h00
tF»#1889
1888.
1887.
1886.
BJ
CD
s 2
Feb. 16, Feb. 18.
Feb. 19.
Feb. 20.
Stock of Print Olotht—
q Kl
2,000
39,000
95,000
Held by Provldeiioe manufrerg. None.
to
M
M
8,000
61,000
61,000 'w
3,000
"^I'coVlMQO
O b Cl
Fall River manuJIaoturerg.....
O:
y tx «j CD " "Vo
^
M >
p-ioo-^
to
ote locooiaco
None.
None.
50,000 256,000
Pro vldenoe speculators
00
-l;v)p3:a«
tOK*
(0
q
.^^'
00 i
None.
3,0U0
20,000
30,000
»
Outside speculators (est)
Ijcib' wco
to
a to btf>>b"*-to
oo C
CO o - c c.
b to 05C0 a CO CO M ci
*i
o;«^
w
03XOM(P^
oo
OQD h- to ca to
^ CO ceo a o CO to 03
3,000
13.000 170,000 442,000
Total stock (pieces)
QD
1 CO --Meotoio
top 00
>3
Printed calicoes ruled quiet in first hands, but were fairly
M
'h-'lowtolo
S
coV bf CO K) -1
03^ CCC^CCO'Ct)
1»
active in jobbing circles, and there was agood steady business
3 CO
to
toio
to CO I- OS
CO
CO
a
CO
-J
c;io*-c-i
CO
O
COS
OS
-?r
M
in printed and woven cotton dress goods, white goods, quilts,
s
«
CO
03
«^
CO
-*-&
table damasks. &c.
to to'- OS 00
M^lO H
-1
"t-05
ES
<iOii-M^i
CO
coc;*
l00S<I'--O
W<1
Domestic Woolen Gk)ODS. The demand for men's-wear
S
H*p;-]<JlO
g o .gco -ic;i05^** M <1 00:01 -to-* 1 00^ I
H
s
woolens at first hands, though somewhat irregular, was of
to to CO to
g t3 CD-JO)r-<J
to
tOUJ
ts
a ®J5
C0C0O0S!0
-J
O' h- 05
00 ^
aggregate
proportions,
and
the
tone
of
fair
the market was
o ooto HtOCOtOtf- to
o QCiO cr o 'X Ci
00
steady. Heavy clothing goods, as fancy worsted suitings and
M
s
M H
trouserings, also piece-dyed worsteds, were in steady demand
Cl^ CO
M to M OI
rf^*.COrf^W
CPtf^
CO
L
by the clothing trade, and there was a fair business in spring 00 CCCD <I!CMCOCJi
1
ct
C. to CO C CO
Oi
^to h- CO 0; I<ib
worsteds. Fancy cassimeres and suitings were in mudOi
CCii
to SD W 01
ow
K
«• CO « 0« *.!
a ccco OSH'^llP'Oi
UC£>
10
erate request, but the demand for both all-wool and
cotton-warp makes was very irregular, a marked prefer10
-wpco^^
OO
CO
ence haviog been accorded to the newest and most de>
CO
bVi-cscio,^ ;?
coiUQox>ao
Oi
:
1
•
'
_
;
:
;
!
i
Hi
1
•
'
1
:
:
tP'
if^
rf^
"fcO
•
.
(t^
rf>-
--)
c;i
it^
tt-
—
1
tC"
-.D
I-*
C;"
'-D
t(a.
rr,
ri^
1
styles, irrespective of
price.
Overcoating were
distributed in considerable quantities on account of back
orders, but the current demand was only moderate. Satinets
sirable
^iuatijcial.
Irving A. Evans
09
CO®
<C»
•^cototoos
iPCi
H W« M t— O
l*i.
CI CO
I--
01
CCC0O<IM
05©
&
Co.,
PHILADBLPniA STOCK EXCHANOB8.
Bonds Bonsht and Sold
in all Markets.
Joshua WiLBOUK,
Charlks H.Sheldon, Jr.,
BiKjAHiN A Jackson, Wuxiam Bdjnet, Jr.
Wilbour, Jackson & Co.,
BANKBB8 AND BROKERS,
WBVB08SET STREET,
PROTIDENCE, R. I.
Dealers In Commercial Paper, GoTenunent aLd
other flrBtrolaBa Booda and Securities and ForeiRn
Sxcfaange.
Prtvaie teletrraph wire to New York and Boston.
Wm.
G. Hopper
&
W.
Clark
&
Stocks and Bonds bought and sold on commlsBlon,
Daily market letter mailed upon application.
Private Wire and Long Distance Telephone to
New York.
Rea
Bros.
&
Co.,
M*. 139 Soatb Fourth
Ht., Phllndelpkla.
Railroad, Municipal and other desirable
InreBt.
=.i«tobi
Transact a
tnterest
AND
DEALERS IN FOREIGN EXCHANGE,
43S Wood Street, Plttsburs, Pa.
MBIMBERS
New York and Philadelphia Stock Exchanges.
Plttsbnrg Petroleum, Stock and Metal Exchange.
Private wires to New York and Philadelphia.
Direct wire to Chicago Board ot Trade.
Wilson, Colston
&
general banking business.
oonneoted bT priTste wire
No.
Walsh
McKm Beothkhs &
&
Ul
tt^
M OS
»-•
QO
CO
§
H-X'lt*'
Co.
Floyd,
BROAD 8TRBBT, NBW YoftK
&
Sons,
SOUTn STREET,'
11
BALTIMORE,
TRANSACT A GBNERAI, DOMESTIC AND
FOREIGN BANK ING BUSINESS.
fishisb.
Wm. CHECKiiKT Shaw
Fisher & Shaw,
INVESTIHENT BANKERS,
Members Baltimore Stock Exchange.
BALTIMO RE, MP.
PITTSBURGHl, PA.
8TABLI8HID
Whitney
&
1871.
Stephenson,
BANKERS AND BROKERS,
fiT
FOtTRTB AVENUE.
members N.Y. Stock Bxohang*.
WM-FAIRMf
H. B. MOBKHKAD,
H.
B.
8T(X!K,
No. S8
OI
BANKERS,
Oldest PltUbnrgh
Correspondence solieltea and Information furN, Y. Correspondents—
CO
COiQCiCtO
COOfhCOcO
O500
No.
nished.
Allow
Members of the Philadelphia and New York
with NeJ^Y???.**'
Uf'-A
Oitf^
Co.,
BALTIiaORE.
(INVESTMENT and SOUTHERN SECURITIES
Bpecialtr.)
for sale.
on deposit*.
toco
Richard d.
Co.,
(Members of Baltimore Stock Exchange),
BANKERS AND BROKERS,
ment Securities
lf>-
OSCOM^tO
t-OQDCOO
oioco»-o
tr 05
Co., Robert Garrett
BANKERS AND BROKBRS,
as Sontb Tliird Street. PblladelpUa.
BANKEBS AND BE0KEE8,
E.
X
CO
o
l^iUKUcinV
BANKERS AND BROKERS.
No. S3
<T)
I^tttawjcial.
BANKEES AND BROKEES,
No. 68 8TATB STREET
BOSTON.
HBHBERS OF BOSTON, NBW YORK AND
Stock* and
Cl
lo
Morehead
&
Co.,
BOND AND NOTE BEOKER9,
No. (1 xrent Tblrd Street,
CINCINNATI. OHIO
;.
@FedFRASER