The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
HUNT’S
MERCHANTS’
REPRESENTING» THE IN D U ST R IA L
M AG AZIN E,
A N D COMMERCIAL INTERESTS OP
THE UNITED
VOL 46,____________ N E W YO R K , FEBR U AR Y 25, 1888.
IfitmtLcial.
____________ f f i t t a t t j c i a l , ____________
A M
B a n k
E R I C A N
N ote C o m p a n y ;
78 TO 86 TRINITY PLACE,
NEW YORK.
Business Founded 1795«
Incorporated under Laws of State of New York, 1868«
Reorganized 1879«
E n gr av er s a n d P r in ters o p
BO N D S, P O S TA G E A R EVEN UE S TA M P S ,
L E G A L T E N D E R A N D N A T IO N A L B A N K
N O T E S of the U N IT E D S T A T E S ; and for
Foreign Governm ents.
ENGRAVING AND PRINTING,
BANK NOTES, SHAKE CERTIFICATES, BONDS
FOB GOVERNMENTS AND CORPORATIONS,
DRAFTS, CHECKS, BILLS OF EXCHANGE,
STAMPS, Ac., in the finest and most artistic style
FROM STEEL PLATES,
W ith SPECIAL SAFEGUARDS t o PREVENT COUNTERFEITING.
Special papers manufactured exclusively for
. use of the Company.
8 A F E T Y C O LO R S .
S A FETY PAPERS.
Work Executed In Fireproof Buildings.
JAMES MACDONOUGH, President
AUG. D. SHEPARD,
)
TOURO ROBERTSON,
j Vice-Presidents.
THEO. H. FREELAND, Sec’y and Treas.
JNO. E. CURRIER, Ass’t Sec’y.
Maverick National Bank
BO STON ,
C A P IT A L ,
SU RPLU S,
.
.
.
.
.
.
M ASS.
.
.
$ 4 0 0 ,0 0 0
$ 6 0 0 ,0 0 0
Accounts o f Banks, Bankers and Corporations
solicited.
Our facilities for COLLECTIONS are excellent
and we re-disoount for hanks when balances war
rant it.
Boston is a reserve city, and balances with ns from
banks (not located In other reserve cities) count as a
reserve.
We draw our own exchange on London and the
Continent, and make Cable transfers and place
money by telegraph throughout the United states
and Canada.
Government Bonds bought and sold, and exchanges
In Washington made for banks without extra charge.
W e have a market for prime first-class Investment
Securities, and invite proposals from States, Conn*
ties and Cities, when issuing bonds.
We do a general banking business, and invite cor
respondence.
A SA P . P O T T E R , President.
JOS. W . W O R K , Cashier.
W . P. W ight & C o.,
72 B roa d w a y,
STOCK B R O K E R S .
Stocks, Bonds and Miscellaneous Securities bought
and sold for cash or on margin.«
w. P. W igh t ,
j . b . Creighton .
Memb. N.T. Stock Exch.
A. B. Cl a f lin , Spec’l
STOCK B R O K E R .
Lansdale Boardman,
N E W Y O R K , 80 BROADWAY & 5 NEW ST.
T R O T , N .T ., NO. 17 FIRST STREET.
Stock Exch. membership; private wires all facilities,
______ jgittaucial.
j . heron
c r o sm a n
.
Lockwood & Crosman,
B A N K E R S AND B R O K E R
Alfred H . Smith & C o.,
IM PO R TER S,
182 Broadway, Cor. John Street.
N o. 31 N ew Street an d N o. 1 E xch an ge
C ourt, N ew Y o rk .]
Private telegraph wires to Chicago, Boston, Phila.
delphia and Baltimore.
We solicit orders for the purohase or sale o f any of
the securities of the
SO LID
GORHAM
SIL V E R .
M ’f’g C o.,
Broadway and Nineteenth Street,
AND 9 MAIDEN LANE.
LITHOGRAPHIC AND TYPE PRINTING.
RA ILW A Y TICKETS OF IMPROVED STYLES.
Show Cards, Labels, Calendars.
BLANK BOOKS OF EVERY DESCRIPTION
NO. 1,183.
F . M. L ockwood ,
D IA M O N D S .
STATES
Established 1854.
Incorporated 1882
P h ila d elp h ia & R ea d in g R R . C o.
on the Philadelphia or New York Stock Exchanges.
R . J. Kimball & C o.,
[Established in 1866.]
BANKERS AND BROKERS,
1 6 A 18 B ro a d Street, N ew Y o r k ,
Members of the New York Stock Exchange and of
the Philadelphia Stock Exchange.
R obert J. K im ball . A lfred B. L ounsbhrb
Lombard Investment Co.,
150 B R O A D W A Y , N E W Y O R K .
Guaranteed Six Per Cent M ortgages
CAPITAL (FULLY PAID) ................. $1,000,000
TOTAL VALUE OF GU A R A N TY.... 2,400,000
Trustees and Investors generally are requested
to call and examine these securities, or send for
pamphlet giving full information.
S. A. K ean .
John Farson
S. A , Kean & C o.,
BANKERS,
2 W A L L STREET.
Deposit accounts received subject to check.
Interest bearing certificates issued,
county, City, Town and school Bonds constantly
on hand.
The Finance Company
O F P fiS N S Y L Y A S I A .
Charter P erpetual .
A u th orized Capital, - - - -
$ 5 ,0 0 0 ,0 0 0
Bank o f Buffalo,
BUFFALO, N. Y.
8. S. Jewett , Pres.
This Bank has superior facilities for making Col
lections in and out of the city on the most liberal
terms, and with careful attention to the best inter
ests of its correspondents.
Correspondents :—Importers’ & Traders’ Na
tions.'. Bank and Chemical National Bank, New York;
Merchants’ Loan & Trust Co., Chicago; Union Bank
of London, London.
W . M . Tewksbury,
BANKER,
11 W a ll Street
AND
NEW Y O R K ,
30 W est 29th Street.
H A R T F O R D , CONN., 39 Prince St.
(All offices connected by exclusive private wire.)
INVESTMENT SECURITIES A SPECIALTY.
131 TO 141 SOUTH FOURTH STREET,
(B ullitt B uilding ),
PHILADELPHIA.
G eneral Banking Business conducted.
State, M unicipal and R a ilro a d Securities
negotiated.
DIRECTORS:
Wharton Barker,
Charlemagne Tower, Jr,,
John H. Converse,
T. Morris Perot,
George DeB. Keim,
George W. Blabon,
James Dougherty,
Philip C. Garrett, •
Simon B. Fleisher,
Isaac R. Childs,
Isaac Hough.
WHARTON BARKER, President.
CHARLEMAGNE TOWER, J r ., Vice-President.
SIMON A. STERN, Treasurer.
RUSSELL STUtiGIS HUBBARD, Secretary.
Douglas & Jones,
7 ’Z B roadw ay,
13 New Street,
(Members of the N.Y. Stock Exchange.)
Buy and sell Stocks and Bonds for cash or on
margin. Interest allowed on deposits. Correspond
ence solicited.
JOHN F. DOUGLAS,
Of the late firm of Lawson, Douglas & Co.
WILLARD H. JONES,
Late o f W.S. Lawson & Co.. Member N.Y. Stock Exch.
W m . C. Cornwell , Cash’r.
C a pital....$ 3 0 0 ,0 0 0 I Surplus...... $ 2 3 0 ,0 0 0
SIX PEE, CENT
I
n c o m e
S
e c u r it ie s
.
L an d D ebentures, G uaranteed Farm and
City M ortgages, and School Bonds.
Call or write for “ Ten Years’ Experience in West
ern Mortgages,” and other Circulars.
NEW ENGLAND LOAN & TRUST CO.,
1 60 B roa dw a y, New Y o rk .
Simon Borg & C o .,
No. 2 6 NASSAU S T „ N E W Y O R K ,
DEALERS IN ALL KINDS OF
Railroad and Investment Securities.
S outhern Securities a Sp e c ia l t y .
THE CHRONICLE.
ü
[Vol, X L ? !.
gmUevB and granners nf 3?n«eifltt gxtftatifle.
K O M T Z E BROTH ERS,
& C o.,
Drexel, Morgan & C o., August Belmont
BANKERS,
WALL STREET, CORNER OF BROAD,
N E W YORK.
BANKERS,
120 B r o a d w a y , Equitable Building, New York.
L E T T E R S O F C R E D IT ANgD
N o. 3 6 W A L L S T R E E T .
C IR C U L A R NOTES
I88UE TRAVELERS’ CREDITS, available in all
parts of the World, through
Drexel,Harjes & Co mrMir.
k . nr. Rothschild ds Sons. London.
do Rothschild Bros., Paris. _
,
M. A . de Rothschild & Sons, Frank
5th A Chestnut Sts. 31 Boulevard Haussmann,
fort o\m.
P A R IS .
S. M. do Rothschild, Esq., Vienna.
P H IL A D E L P H IA
Drexel & Co.,
‘‘
“
DOMESTIC AND FOREIGN BANKERS.
i \Qr»nBit« TAfifiivod subjoct to Drftft»
86curiti6i
Dou|^tSand sold on commission. Interest flow ed on
E & H
Foreign Bxehange. Commercl^ Credlts.
Cable Transfers. Circular Letters _ f or .Travelers,
ayohable in all parts of the world.a
an d their correspondents .
Draw Bills of Exchange on, and make Cable Trans
fers to, England, France and Germany.__________ ,
John Paton
&
C o.,
SUCCESSORS TO
ATTORNEYS AND AGENTS 0 »7
¡Hessrs. J , S. M O R G A N Sc CO.«
No, 22 OLD BROAD STREET, LONDON.
JE2SEP, P A T O N & C O .,
S3 w illia m Street
N ew Y o r k .
Issued for the use o f travelers In all parts o f the
world. Rills drawn on the Union Bank of London.
Telegraphic transfers made to London and to various
places in the United States. Deposits received, sub
ject to check at sight, and Interest allowed on bal
ances. Government and other bonds and investgent securities bonght and sold on commission-
C an adian B a n k o f C o m m e rce .
CAPITAL, f6,000 000.
SURPLUS, $500 000.
J. H. CtOADBY & ALEX. LAIRD,
AGENTS,
16 EXCH AN G E P LA C E , N E W Y O R K
BUY AND SELL STERLING EXCHANGE, CABLE
TRANSFERS, ETC.
ISSUES COMMERCIAL CREDITS, AVAILABLE
TN ALL PARTS OF THE WORLD.
Accounts and Agency of Banks, Corporations,
firms and Individuals received upon favorable terms.
Dividends and interest eolleoted and remitted.
Act as agents for corporations In paying coupons
NEW YORK, PHILADELPHIA, BOSTON, AND
and dividends; also as transfer agents.
A L E X A N D E R B R O W N & SONS,
Bonds, stocks and securities bought and sold on
commission, at the Stock Exchange or elsewhere.
BALTIMORE.
„
Sterling Exchange and Cable Transfers bought and
W alston H. Brown .
F red . A, B row n .
Members of N e w York, Philadelphia and Baltimore
H erbert P. Brow n .
Stock Exchanges.
DRAW ON
Execute orders for all investment securities, r e ,o ld '
THE UNION BANK OF LONDON,
ceive accounts o f Banks, Bankers,
?£Ld
Firms, on favorable terms. Buy and
chance on Great Britain and Ireland, France, BRITISH LINEN CO. BANK, LONDON AND
BANKERS.
Germany. Belgium, Holland, 8wit*erland, Nor
SCOTLAND.
____________ _
Accounts of Corporations and Individuals received
way Denmark, Sweden. Australia, St. Thomas,
npon Liberal Terms. Securities Bonght and Sold on
St Croix and British West, Indies. Issue Com
mercial and T ra v elers’ Credits in sterling, availCommission.
ame in any part o f the world, in iska NCS ior
N o. 2 0 NASSAU S T R E E T ,
use in Martinique and Guadeloupe, and
BANKERS,
NEW YORK.
use in this country, Canada, Mexico and West Indies.
Mat« telegraphic transfers of money
N o. 23 B R O A D S T R E E T ,
oountry, Europe and British and Danish West InN ew Y o rk .
dies. Make collections o f drafts drawn abroad on aU
ooints in United States and Canada, and of drafts
Issue Letters of Credit for Travelers
t o w n in the United States on
Their London house, Messrs. BROWN, SHIPLEY
On 8ELIGMAN BROTHERS, London.
BANKERS AND BROKERS,
A CO., receive accounts o f American banks, firms
SELIGMAN FRBRE8 A CIE, Parts.
and individuals upon favorable terms.
__
N o. 1 0 W A L L S T ., N E W Y O R K .
8ELIGMAN A 8TETTHEIMBR, Frankfurt.
“
BBOWN, SHIPLEY A CO., Liverpool.
ALSBERG,
GOLDBERG
A
CO.,
Amsterdam.
Orders for Stocks and Bonds executed at all
BROWN, SHIPLEY & CO.. London.
ALTMAN i 8TETTHEIMBR, Berlin,
Exchanges.
... ,
U. 8. Government Financial Agents in England.
Especial attention given to supplying high-class
Payable in any part of Europe, Asia, Africa, Aus
tralia and America.
_ ,
..
IN
V
E
S
T
M
E
N
T
S
E
C
U
R
IT
IE S .
Draw Bills of Exchange and make Telegraphic
Transfers of Money on Europe and California.
Brown Brothers & C o .,
tvs and ißxoTx&xs.
Walston H . Brown & Bros
J. & W . Seligman& C o.,
John H . Davis & C o.,
T. & T. Stuart & C o .,
J
83 ‘ NASSAU S T R E E T .
b il l s
of
SMITH,
exchange
PAYNE
„ . K ennedy T od .
H. O. Northcoth.
on
& SM ITH S,
*
C O UN TY B A N K ,
••l i m i t e d ; ’
MANCHESTER, PAYABLE IN LONDON;
ULSTER
B A N K IN G
COMPANY,
BELFAST, IRELAND
AND ON THE
N A T IO N A L
BANK
OP SCO TLAN D ,
EDINBURGH AND BRANCHES i
ALSO,
Chrystie &
25 Nassau Street, N ew Y o r k ,
NO. 63 WILLIAM STREET,
BANKERS.
Receive deposits subject to check at sight and
allow interest on balances.
Act as Agents for Banks, Bankers and Railroa
Deal'In Railroad bonds, State, County and Muni
Companies.
cipal Securities.
Issue commercial credits, also foreign and domestic
Give special attention to consignments of Bullion
travelers’ letters of credit in pounds sterling A dollars and
make liberal advances on same when desired.
Offer In vestm en t Securities.
Buy and sell bonds, stocks and securities In all Am
erioan, Canadian, British and Dutch markets on com
mission. Collect dividends, coupons and foreign and
inland Drafts.
_
. _ ,
Sell Bills of Exchange on
W ood, Huestis & C o.,
31 PINE STREET, NEW YORK,
R A N K E R S AND B R O K E R S ,
CABLE TRANSFERS AND LETTERS OF CREDIT.
John M unroe & C o.,
* N o . 8 2 N assau Street, N ew Y o r k .
N o. 4 P o st Office Square, B o sto n .
Issue Circular Letters o f Credit for Travelers’ Use
Abroad against Cftsh or Satisfactory
Guaranty o f Re-payment.
U ic h a n g * o n L o n d o n , P a ris, B erlin ,
Z u ric h a n d St. G all.
Cr e d i t s o p e n e d a n d p a y m e n t s m a d e b y c a b l e .
P aris H ou se—M U N R O E & CO.__
Schulz & Ruckgaber,
BANKERS,
Janney,
BANKERS,
J. Kennedy Tod & C o.,
BANKERS, LONDON,
M ANCHESTER
ALEXANDER BARINO,
Member N. Y. Stock Exoh’ge
SUCCESSORS TO
f f i f H U Ï t S Ü 8 * ° 0- } « ™ Geo. Coppell .
thos . Ma it la n d .
Gerald L. H oyt , Member N. Y. Stock Exoh.
Maitland, Phelps & C o .,
WOOD
F IR S T -C L A S S R A I L R O A D F I R S T M O R T G A G E B O N D S .
GEORGE C. WOOD. C.H.HUESTIS. L.M.SWAN.
H iram Dewing . Cl a r k Dew ing . F.T.B ontecou
(Member of N. Y. Stock Exchange.)
B A N K E R S
H . Dewing & Son,
AND
COMMISSION
& D A V IS .
Execute orders In all securities listed at the New
York Stock Exchange. For Sale :
R A N K E R S ANU B R O K E R S ,
N o. 18 W a ll Street, N ew Y o r k .
MERCHANTS,
Stocks and bonds bonght and sold on commission.
Particular attention given to information regard
ing Investment Securities.
. _ . _.
Iowa Loan A Tust Co. 6 per cent Debentures
BILLS OF EXCHANGE, LETTERS OF CREDIT, bought and sold.
TELEGRAPHIC TRANSFERS OF MONEY ON
LONDON, PARIS, MEXICO, CUBA, Ao., Ao.
22
Sc 2 4 E x ch an ge P laee,
Ne w Y o r k .
J. L. Robertson,
20 W IL L IA M S T R E E T , N E W Y O R K ,
THE
CORRESPONDENTS ov the
ROND AND STO CK B R O K E 8 ,
In tern ation a l R a n h o f L o n d on
(L im ited ), L o n d o n .
M essrs. J o h n Berenl>erg,Gossler & Co.,
H a m b u rg .
M e s s r s . M a r c n a r d j K r a u ss& C o., P a r i s .
I N V E S T M E N T CO.
o f Philadelphia.
Commercial and Travelers’
Bills o f E x c h a n g e . ____________ cable iransiers
310
CHESTNUT
Dealer in Investment Securities,
No. 7 NASSAU STREET,
(Continental National Bank Building,)
N ew Y o r k .
STREET
Capital, 34 ,000 ,00 0. Full Paid.
James D . Simons,
CONDUCTS A GENERAL BANKING BUSINESS
Allows interest on cash deposits, subject to check
(Formerly SIMONS A CHEW.)
or on Certificates. _
,
Buys and sells Bills of Exchange, tow in g on
b a n k e r
a
b r o k e r ,
Baring Bros. A Co., London; Perier FreresetCie, •2 Exchange Court Sc 32 Broadway, N. * .
Paris; Mendelssohn A Co., Berlin, and on Paul
CAPITAL, 31 ,000 ,00 0.
Mendelssohn-Bartholdy, Hamburg.
wm
All Securities dealt In at N. Y. Stock Exchange
bomzht and sold for Cash or on Margin. Special atten
Negotiates Securities, Railroad, State, Munioipa
Transacts a general banking business.
tion given investments. Correspondence solicited.
Receives accounts of banks, bankers and corpora * Offers for sale first-class Investment Securities.
MemberN. Y. Stock Exchange.
WILLIAM BROCKIE, President.
Member N. Y. Produce Exchange.
tions upon favorable terms,
WHARTON BARKER, Vice-President.
issues certificates o f deposit bearing interest.
HENRY M. HOYT, JR., Treasurer.
Makes loans upon approved merchandise.
ETHELBERT WATTS, Secretary.
Board of Directors—William Brockie, George 8
Solicits mercantile and personal accounts.
PeDDer, Morton MoMichael, Wharton Barker, Henry
|H ||. o f E x ch an ge D ra w n o n th e City C. Gibson, T. Wistar Brown, lsaao H. Clothier.
Advisory Committee of Stockholders.—William
tewart
rown s
ons
B a n k , L im ited, L o n d o n .
Potter, George M. Troutman, Gustavus English,
Circular Letters of Credit issued for William Pepper, M. D., Thomas Dolan, John G.
Reading, Joseph 3 . Gillingham, John Wanamaker
STOCK R R O K E R S ,
travelers use, and Commercial Credits H e n ry B . Smith, Craige Llppincott, Hamilton
opened In Europe, Asia, South America Disston, Clayton French, Francis Rawle, William 6 4 B ro a d w a y Sc 19 N ew S t., N ew Y o r k .
<■Wood, Walter Garrett.
aad the W est Indies.
THE NEW YORK
Produce Exchange Bank.
S
B
’
S
,
íij
H* B. Hollins & C o.,
Taintor & H olt,
H . L. Horton & C o.,
BANKERS,
N o. 11 W a ll S t., Cor. N ew , N ew Y o r k .
TRANSACT a GENERAI, BANKING business.!
DEPOSITS received and INTEREST allowed on
BARTHOLOMEW HOUSE, ) t,0 ND0N.
BARTHOLOMEW L A N E.Í^
U
18 W A L L an d 3 NASSAU S T R E E T S
NEW YO R K .
Transact a General Banking Business.
DEALERS IN GOVERNMENT, MUNICIPAL AND
RAILROAD SECURITIES.
b Buyand sell GOVERNMENT, MUNICIPAL and DEMAND DEPOSIT ACCOUNTS RECEIVED.
INTEREST ALLOWED ON DAILY BALANCES
RAILROAD Securities.
Private telegraph wires to Providence and Boston
gxt ums le VATTOR.
GEO. EL HOLT
GILES E. TAXAU^ ’D>Ii,HUIIj BR.
Harriman
1 6 & 18 B ro a d Street, N ew Y o r k .
121 Soutli T k lr d Street, P k lla d elp k la ,
Connected by Private Wire with main office. Nee
York.
DEALERS IN
F IR S T -C L A S S IN V E S T M E N T S .
Buy and sell on Commission, for cash or on margin,
all securities dealt in at the New York ato-k Ex° Interest allowed on daily balances.
Aii dADoaits subject to check at signt*
Particular attention to orders by mad or telegram
Wa lt e r D el Ma r .
E. L. Oppenheim & C o.,
[ESTABLISHED 1862],
&
Co.
WM. M. HARRIMAN,
)
Nicholas f is h ,
,
(
Oliver h a r r im a n , Jr .
J
BANKERS AND BROKERS,
Geo. K . Sistare’s Sons,
Ed w a r d L. Oppenheim .
54 and 5 6 ! B E O AD W AY, New York.
BANKERS,
Special Attention Given to American
Securities.
Solicit Accounts and Order for the Purchase and
Sale of Bonds, Shares, Ac.. Ac., on Commission, in
New York, Boston, Chicago, London or Paris,
Interest allowed on deposits subject to drafts at
sights
Members of the New York and Boston Stock Hx«
changes and of the New York and Chicago Produce
Exchanges.
Private wires to Chicago, St. Paul, Boston, Hart
ford, Buffalo and Utica.
T. C . Walcott & C o .,
E Q U I T A B L E B U IL D IN G ,
1 2 0 B ro a d w a y .
**
BANKERS AND BROKERS,
N o. 2 4 P in e Street, N ew Y o r k .
Harvey
Fisk.
&
Sons,
Transftct a General Banking Business,
Stocks and Bonds bought and sold on Commission.
2 8 NASSAU ST R E E T , N EW Y O R K .
Collections made and loans negotiated.
BANKERS.
Dividends and Interest collected.
D e a le r s in U nited S ta tes B o n d s a n d O ther
Deposits received subject to Draft.
D e s ir a b le S e c u r itie s.
Interest allowed. Investment securities a specialty.
Deposit accounts received and interest allowed on
W e Issue a Financial Report weekly.
balances^-rc^Hin^ n . v . STOCK EXCHANGE.
jn * n. W alcott ,
l Members of the New York
F. DwirnsrBoir. f
Stock Exchange.
Office of the Pneumatic Steering Gear & Mfg.Co.
ROBERT D. FARLEE.
---------UAKJÜJEJE.
J g. FARLEE.
L. C. L ath r o p . Oscar B. Smith . J.H.O liph an t
S. Farlee & Brother,
BANKERS AND BROKERS,
61 & 53 N ew Street a n d 4 2 B r o a d w a y ,
N o. 7 NASSAU S T ., N E W Y O R K ,
BROKERS AND DEALERS IN
Branch Office, 91 L eonard Street ,
NEW YO R K .
75 Old B roa d Street, E . C ., LONDON.
INVESTM ENT
Lathrop, Smith & Oliphant,
BANKERS AND BROKERS,
BONDS,
STATE, MUNICIPAL AND APPROVED RAILROAD BONDS.
Correspondence Solicited .
chas . J. T ownsend ,
Lansing 0. Washbubn
MemberjS b ! P ® T o Æ K s p e c i a l Partner.
37 BROAD STREET, NEW YO R K ,
Members New York Stock Exchange, New York
Cotton Exchange, and Board of Trade Chicago.
Townsend & Washburn, W . H . Goadby & C o.,
bankers
and
N o. 6 W a l l Street, N ew Y o r k .
No.
Stocks and Bonds Bought and Sold on Commission
^SpMia^attenti^n^i’ven to Unlisted Securities,
tDeposits received, subject to Check at Sight.
Correspondence solicited.
T. 8. YOUNG, JR.,
Member N.Y. Stock Exchange.
24
BROAD
BANKERS,
STR EET,
10 W a ll Street, N ew Y o r k .
N ew Y o r k .
Stocks, Bonds and Cotton,
Alexander Campbell & Co.
W. 8. NELSON
Transact a General Banking Business
Interest allowed on Deposits.
________ __
BANKERS AND BROKERS,
Young & Nelson,
BANKERS AND BROKERS,
3 6 W a ll S treet, N ew Y o r k .
All stocks and securities dealt in at the New York
Stock Exchange bought and sold on commission, for
cash or on margin. Deposits received and interest
allowed on b a l a n c e s . ________ _________ ___
A.
Green & Bateman.
BANKERS AND BROKERS,
brokers,
2 6 P IN E S T R E E T , N E W Y O R K .
MALCOLM CAMPBELL, Member of N. Y. Stock Bxch
dh.diiisKju&etf&Co
Dutenhofer,
BROKER,
b a n k e r s
18
a NB
W ALL
ST R EET,
Co.
BANKERS AND BROKERS,
,2
B R O A D W A Y an d 9 N E W S T R E E T
N e w Y ork .
Special attention given to investments. Interest
Allowed on deposits, subject to check at sight.
Rolston & Bass,
NO. 20 BROAD STREET, NEW YORK
STO CKS, BONDS,
AND M ISC E LLA N E O U S SE C U R IT IE S
Correspondence solicited.
Quotations cheerfully furnished
W m . h . rolston ,
W. A l e x , b a s s , Jr
Member N. Y. Stock Exoh’ge.
H . G . Campbell & C o .,
Gilman, Son & Co.
I S o o c lt i *
M o ie ifa ii
& C o,
B A N K E R S,
57 Broadway, opp. Exchange Place, N. Y.
Branch Office, 241 La Salle St., Chicago.
t r a n s a c t a g e n e r a l b a n k in g b u s in e s s ,
TN i^UDING t h e p u r c h a s e a n d s a l e o f
STOCKS AND BONDS FOR CASH OR ON M AR
GIN0 BU Y AND SELL INVESTMENT SBCURITIB8 “ INTEREST A LLO W ED ON DEPOSITS
SUBJECT TO CHECK A T SIGHT.
T»
A
BOODY.
’
’
C.
W.
M CLELLAN,
KHU
W m. F. Lbsslib .
^HENKY T. BOODY.
m
3
M u b t o i S oLa n d .
b a n k e r s and b r o k e r s,
9 New Street and 74 Broadway,
NEW
YORK
Hamilton & Bishop,
BANKERS AITO BROKERS,
No. 9 6 B R O A D W A Y , N E W Y O R K
{Members New York Stock Exchange.)
m
u
m
m
C . J. Turner & S
(16 Years’ Membership in the N.Y. Stop
BANKER
AN D
BB®
16 & 18 BROAD STREET, N
Transact a general banking busl
the purchase and sale of stocks a.
or on margin.
_____
WM Y. CAROLIN,
„ .
m.
Member N.Y. Stock Exchange, m
BANKERS,
U NITED B A N K BUILDING.
W a ll Street, corner B r o a d w a y .
STOCKS, BONDS <6 COMMERCIAL PAPER
In addition to a General Banking Business, Bny I stocks and bonds bought and sold on commission
at H
New
and Bell
Bond# Mid Investment Beowri* a„
ew York Stock Exchange. Advances SMhJs mi
| business pawn bad other securities.
BANKERS,
N o. 6 2 C E D A R S T R E E T .
onrt .ell at N. Y. Stock Exchange, for IN
VESTMENT or on MARGIN, all classes
and Bonds, and allow Interest on deposits, subject to
____________________ _
check at sight.'
YORK.
MEMBERS OF NEW YORK STOCK EXCHANGE.
MILLS BUILDING (Sd Floor,)
Allow interest on deposits subject to sight check.
Buy and sell on commission stocks and bonds either
Rooms 25 & 26.
35 W A L L STRE E T
for cash or on margin, and deal in
STATE AND CITY BONDS OF GEORGIA, also
SECURITIES OF THE CENTRAL RR. & BANK
Investment Securities.
ING CO. OF GEORGIA, A SPECIALTY.
W a y l a n d Tr a s k ,
A. M. K idder ,
Investors wishing to buy or sell are invited to call
Ch as . D. Ma r v in ,
or correspond. Prompt and personal attention
H. J. Morse ,
given to all orders._____
.
Howard Lapsley
Dickinson & Alling,
BANKERS
AND
BROKER
N o. 3 0 P in e Street, N ew Y o r k ,
,
NEW
Established 1 8 6 5.
Dealer in Miscellaneous Securities
W. H. D ickinson ,
Ed w a r d P. A lling
Member N. Y. Stock Exchange.
#
Carolin <&
Bankers and Commlssto;
No. 55 BROAD
Branch Office, 315 Madison Av.i,
Deposits received subject to1c
terest allowed on daily balance#.
Ities dealt In at the N.Y. Stock
goid on commission, fo r <?&sa
*
ir
THE CHRONICLE.
JV ol. XL VI.
Qxust Companies.
F in a n c ia l.
Union Trust Company American Loan & Trust Co., R. A . Lancaster & C o.,
OF N E W Y O R K ,
113 BROADWAY, NEW YORK.
73 Broadway, cor. Rector St., N. T.
C A P I T A L ,- - - - - - S U R P L U S ,- - - - - - -
« 1 ,0 0 0 ,0 0 0
$ 2 ,5 0 0 ,0 0 0
Authorized to act as Kxecutor, Administrator
Guardian, Receiver, or Trustee, and is
A LEGAL DEPOSITORY FOR MONET.
Accepts the transfer agency and registry o f stocks,
and acts as Trustee of mortgages o f corporations.
Allows Interest on deposits, which may be made at
any time, and withdrawn on five days’ notice, with
laterest for the whole time they remain with the
Company.
For the convenience o f depositors this company
also opens current accounts subject, in accordance
with its rules, to check at sight, and allows interest
upon the resulting dally balances. Such checks pass
through the Clearing House.
_
TRUSTEES!
(vm. White wright,
James M. McLean,
Henry A. Kent,!
Ambrose C. Klngsland.
R. T. Wilson,
James H. Ogilvie,
Wm. F. Russell,
S. T. Fairchild.
C. D. Wood.
I. H. Frothingham,
James N. Platt,
George A. Jarvis,
D. C. Havs,
C. Vanderbilt,
Wm. Alex. Duer,
A. A. Low,
Charles H. Leland,
G. G. Williams,
Edward King,
R. G. Remsen,
B. B. Wesley,
Edward Schell,
B. H. McAlpin,
Amasa J. Parker
George B. Carhart,
8amuel F. Barger,
Chauncey M. Depew,
Geo. (1. Maeoun.
H Van Rennselaer Kennedy.
EXECUTIVE COMMITTEE:
Wm. Whitewright,
G. G. Williams,
James McLean,
E. B. Wesley,
Geo. C. Magoun,
C. D. Wood,
D. C. Hays,
A. C. Kings land.
EDWARD KING, President,
JAMES M, McL e a n , First Vice-Pres’t,
JAMES H. OGILVIE, Seoond Vice-Pres’t.
A. O RONALDSON, Secretary.
A. W. KELLEY, Assistant Secretary.
United States Trust Co.
OF NEW YORK,
N o. 4 9 W A L L S T R E E T .
Capital and Surplus,
- $ 7 ,0 0 0 ,0 0 0
This company is a legal depository for moneys
paid into court, and is authorized to act as guardian
or trustee.
INTEREST ALLOWED ON DEPOSITS,
which may be made at any time and withdrawn
after five days’ notice, and will be entitled to inter
est for the whole time they may remain with the
company.
Executors, administrators, or trustees o f estates,
and females unaccustomed to the transaction of
business, as well as religious and benevolent institu
tions, will find this company a convenient deposit
ory for money.
.JOHN A. STEWART, President,
GEORGE BLISS, Vice-President,
JAMES S. CLARK, Second Vice-Pres’t
TRUSTEES:
Wilson G. Hunt, H. E. Lawrence, William Libbey,
Clinton Gilbert, Isaac N. Phelps, John C. Brown,
Daniel D. Lord, Erastus Corning, Edward Cooper,
Samuel Sloan,
S. B. Chittenden, W.Bay’rdCutting
James Low,
JohnH.Rhoades, Chas. S. Smith,
Wm. W. Phelps, Anson P. Stokes, Wm.Rockefeller,
D. Willis James, UoDt.B.Minturn, Alex. E. Orr,
John J.Astor,
Geo. H. Warren, Wm.H.Macy, )r.
John A. Stewart, George Bliss,
HENRY L. THORNELL, Secretary.
LOUIS G. HAMPTON, Assistant Secretary.
OF
P H IL A D E L P H IA .
Incorporated Third Mo., 22d, 18(15.
(CHARTER PERPETUAL.)
C A P IT A L ....................................$ 1 ,0 0 0 ,0 0 0
A S S E T S , $ 1 9 ,4 7 2 ,8 6 0 0 2 .
INSURES LIVES, GRANTS ANNUITIES, RE
CEIVES MONEY ON DEPOSIT, returnable on de
mand, or on which interest is allowed, and is empow
ered by law to act as EXECUTOR. ADMINISTRA
TOR, TRU8TEE, GUARDIAN, ASSIGNEE, COMMITTEK, RECEIVER, AGENT, etc., for the faithlul performance of which its capital and surplus
lund furnish ample security.
All trust funds and Investments are kept separate
and apart from the assets o f the company.
The income of parties residing abroad carefully
•Ollected and duly remitted.
BAM’L R. SHIPLEY, President.
T. WISTAR BROWN, Vice-President.
ASA S. WING, Vice-President and Act.uarv
e Brooklyn Trust C o.,
Montague and Clinton 8ts.,Brooklyn, N.Y.
.L (all in U. S. Bonds) - $ 1 ,0 0 0 ,0 0 0
any is authorized by special charter to
er, trustee, guardian, executor or admins agent in the sale or management of
Ueot interest or dividends, receive re
efer books, or make purchase and sale
t and other securities.
charitable institutions, and persons
to the transaction o f business, will
ny a safe and convenient depository
PLKY ROPES, President.
UND W.CORL1ES, Vloe-Pres’t.
TRUSTEES.
Js F. Knowlton, T v K . Sheldon,
ohn T. Martin, L D. Wood,
’red. Cromwell, Vm. H. Male,
ohn P. Rolfe.
Ripley Ropes,
". W. Corlies.
Abram B. Baylit,
E. Pierrepont,
_ ---------H. W, Maxwell,
188 C u r r a n ,
Secretary.
C. Colton, Asst. Bec’y.
N o . 10 W A L L S T R E E T ,
THIS COMPANY TRANSACTS A GENERAL
LOAN, TRUST & FINANCIAL BUSINESS.
Receives money on Deposit, subject to check, and
allows interest on balances.
All Checks pass through the Clearing House.
Makes Investments of Money, acts as Executor,
Administrator, Guardian, Trustee, etc.
Also, as Registrar and Transfer Agent.
An authorized Depository for Court and County
Treasurers’ Funds.
ROWLAND N. HAZARD, President.
GEORGE S. HART, Vice-President.
JAMES S. THURSTON, Secretary.
DIRECTORS!
Wallace C. Andrews,
John L. Macaulay,
John D. Kimmey,
John I. Blair,
John Ross,
Edward F. Browning,
Alexander G. Black,
Rowland N. Hazard,
Elias C. Benedict,
George S. Hart,
William P. Anderson,
Wm. B. Dinsmore,
James S. Thurston,
Peter Wyckoff,
Thomas L. Watson,
George A. Evans,
Charles Parsons.
Jules Aldige,
Granville
Hawes.
NEW
INVESTMENT and MISCELLANEOUS
SECURITIES.
s o u th e rn Securities a S pecialty.
T r u s t
OF PHILADELPHIA,
.
.
.
.
OFFICERS:
President—FRANK K. HIPPLE.
Fecre ary—WILLIAM R. PHILLEB.
Treasurer—WILLIAM F. NORTH.
Real Estate Officer—THOMAS B. PROSSER.
DIRECTORS:
Frank K. Hippie,
George Philler,
Henry C. Gibson,]
Edward T. Steel,
Lemuel Coffin,
Charles W. Henry,
Beauveau Borie,
John F. Betz,
William M. Singerly.
Thomas Dolan,
John Wanamaker,
R. Dale Benson.
AN D
B r o o k ly n Com panies’
BOUGHT AND SOLD BY
W
M
.
C .
N
O
Y
E
S ,
See my quotations of Trust and Telegraph Stock)
in Daily Indicator and Saturday’s Evening Pott.
F. H . Smith,
BANKER
Metropolitan Trust C o.,
Mills B u ild in g , 35 W a ll St ., N e w Y o r k .
P A ID -U P C A P IT A L , - -
$ 1 ,0 0 0 ,0 0 0
Designated as a legal depository by order of
Bnpreme Court. Receive deposits of money on
Interest, act as fiscal or transfer agent, or trustee
for corporations, and accept and execute any legal
rusts from persons or corporations, on as favorable
terms as other similar companies.
THOMAS HILLHOU8E, President.
FREDERIC D. TAPPKN, Vice-President.
CHARLES M. JESUP. Secretary.
THE
C A S U A L T Y CO.
OF NEW YORK.
Nos. 2 t 4 & 2 1 9 B R O A D W A Y .
& BROKER,
No. 2 0 B R O A D S T ., N E W Y O R K .
Speculative Accounts Solicited.
Orders received in Stocks for large or small
amounts, either for cash or on margin.
Particular attention given to investments.
All issues of bonds, either in default or other
wise, carefully quoted.
TWENTY YEARS’ EXPERIENCE.
F. H. Smith . 1Members Consolidated Btook and
S. W. Smith , ( Petroleum Bxohange. New York.
R. T . Wilson & C o.,
BANKERS AND COMMISSION MERCHANTS
2 E x ch an ge C ou rt, N ew York;
U fax m
S o lic ito r— f lE O R O E J U N K IN.
&
S t o c k s .
N ew Y o rk
$ 5 0 0 ,0 0 0
Receives deposits o f money payable by cheek and
allows interest thereon; also receives for safe
keeping securities and other valuables, and
rents safe deposit boxes in burglar-proof
vaults.
Receives Trusts of every description, acting as
executor, administrator, assignee, etc., and
executing surety for the faithful performance
of any trust or office.
Acts as Agent or Attorney for the sale or manage
ment of real estate, and insures titles to real
estate and mortgages.
F ID E L IT Y
o .’ s
ALL OF THE
N o. 1340 Chestnut Street.
.
C
9tt B road w ay.
Real Estate Trust Co.
C A PIT A L .,
YORK.
DEALERS IN
THE
T U B
Provident Life &Trust Co
BANKERS,
C apital, F u lly P a id , - - - - $ 1 ,0 0 0 ,0 0 0
E Q U IT A B L E
Mortgage Company.
Capital Subscribed......................$ 2 ,00 0 ,0 0 0
Paid In (Cash)............................... 1 ,0 0 0 ,0 0 0
D E B E N T U R E S ,
Bearing 6 per cent, running ten years and based
exclusively upon Western Farm Mortgages, held in
trust by the American Loan & Trust Company, of
New York, for the benefit of the bondholders. Their
safety, time to run and rate of Interest make them
the most desirable investment now offered. Also,
GUARANTEED FARM MORTGAGES.
CAPITAL, $250,000.
ASSETS, about $650,000
OFFICES I
Issues SURETY BONDS, guaranteeing the fidelity
York, 208 Broadway I Phila., cor. 4th&Chestnut
of persons in positions of trust, such as employees of New
I Kansas City, 7th& Del.St*
Railroads, Banks, etc., also Administrators, Guar Boston, 23 Court St.
dians. etc.
Issues ACCIDENT POLICIES, containing all
modern features.
Also PLATE GLASS and BOILER POLICIES of
approved forms.
Agents will appreciate the advantage o f dealing
with a company which does more than one line of
business.
(|
15 0 Nassau Street, N ew Y o r k ,
OFFICERS.
WM.M.RiCHARDS,Prest. GEo.F.SEWARD.V.-Prest.
Offer
extraordinary inducements in
J ohn M. Crane , Sec.
RobtJ .H illas , Ass. Sec.
DIRECTORS.
IN V E S T M E N T S E C U R IT IE S
Geo. S. Coe.
A. B. HulL
A. S. Barnes,
J. S.T.Stranahan, H A. Hurlbut, J.G.McCuliough,
A. E. Orr,
J. D.Vermilye, T. S. Moore.
ALL GUARANTEED.
G. G. Williams. John L. Biker, J. Rogers Maxwell,
Assets, October 1st, 1887, $1,866,836 68.
Wm. M. Richards,
Geo F Seward.
Send
for
full Information and references.
— n— —
— HUB
6 % THE AMERICAN
G
E.
S. B
ailey
,
5 3« P IN E S T R E E T .
dealings in
I N S U R A N C E
A
S T O C K S
S P E C IA L T Y .
Cash paid at once for the above securities: or they
will be sold on commission at seller’s option.
H . L. Grant,
N o. 1 4 5
B R O A D W A Y ,
FEW YORK.
CITY RAILROAD STOCKS & BONDS
BOUGHT AND SOLD.
See Quotations of City Railroads inthis paper.
INVESTMENT CO.,
INVEST TH RO UG H TH E SOUND AND
m
R E L IA B L E
WESTERN FARM MORTGAGE C0„
LAW REN CE, KAN.
F. M. P erk in s , Pres’t.
L. H. P erkins . P«e.
Paid Up Capital,
$ 2 5 0 .0 0 0
The ohoicest First Mortgage Farm Loans, also the
Company’s Ten Year Debentures, based upon Its
paid up capital and assets of over $650,000. No losses,
Eleven years’ experience, with absolute satisfaction
to over 1,500 investors. Send for circulars, forms and
full information. Branch offices in N. Y. City and
Albany. New York Office 137 Broadway.
C. C. HINTS & SON. Agents.
Important Notice.
TO HOLDERS OF KANSAS BE A L ESTATE
MORTGAGES:
Send to HODGES A KNOX, TOPEKA, KANSAS
for Free P uaphlet containing the oompiled Laws of.
Kansas relating to Real Estate Mortgages.
February
THE CH RONICLE
25, 1888.J
ffttmnjcial.
f in a n c ia l.
ffit t a u jc t a l.
23 W a l l St ., New Y o rk , Feb. 17,1888.
JARVIS-CONKLIN
R E O R G A N IZ A T IO N
OF THE
Series “ B” Bonds,
Currency Bonds,
R e s e r v e L ia b ilit y
1 ,0 0 0 ,0 0 0 Deferred Interest Scrip,
T o ta l
$ 2 ,1 0 0 ,0 0 0 First Preferred Stock,
Second Preferred Stock,
This Company offers for sale at par and
Common Stock,
OF TH E
CHESA
P E A K E Sc
OHIO
R A IL W A Y
CO M PAN Y.
accrued interest its
Notice is hereby Riven that under and by virtue of
an act o f the Legislative Assembly of the Territory
o f Montana, entitled An Act to enable certain
cities and towns to incur indebtedness, approved
Sept. 14,1887, the City o f Bozeman, in the County of
Gallatin, Territory o f Montana, will, on the 31st
day of March, 1888, at 10 o’clock A. M., at the City
Hall, in the said City o f Bozeman, sell at public
auction to the highest bidder for cash, and at not
less than their face value, Twenty-five Thousand
Dollars worth o f Bozeman City Coupon Bonds in
denominations of Five Hundred and One Thousand
Dollars each, redeemable in five years and payable
in twenty years, bearing interest at the rate o f six
per cent per annum, payable semi-annually at the
office o f the City Treasurer o f said city, or in the
City of New York, at such bank as the Treasurer of
the said City o f Bozeman may designate—both
bonds and interest thereon payable at the place
and bank so designated.
Sealed bids will be received by the City Treasurer
o f said Bozeman at any time before the said date of
sale.
By order of the City Council.
Dated January 21st, 1888.
J. Y. BOGERT, Mayor.
D. C. Cam pbell , City Clerk.
FOB SALE:
S E C O N D -H A N D
are requested to deposit their securities lat once
with DREXEL, MORGAN 8c CO., 23 Wall Street.
New York, who will issue negotiable receipts there,
for, and from whom copies o f the reorganization
agreement and all other information may be ob
tained.
Dne notice will be given by the Reorganization
Committee when and as the assessments on stock
specified in the plan are required to be paid.
The right is reserved to terminate the privilege of
depositing securities and participating in the reor
ganization, or to fix penalties under which further
deposits will he received.
D R E X E L , M O R G A N Sc C O .,
D epositaries,
C. H. COSTER, 1
R. J. CROSS,
>Committee.
A. J. THOMAS,)
THE NEW YORK EQUIPMENT C0„
DRAW ON
THE NATIONAL PRO VINCIA l. BANK )
OF ENGLAND (Limited.)
> L on d on *
THE UNION BANK OF LONDON (L’d),)
HEINE & CO., P a r ts .
. _
JOHANN GOLL 8c SOEHNE,|
8. BLEICHROEDER, B e r lin .
DEUTSCHSCHWEIZERISCHECRED- )
ft . n
IT BANK,
) S t* U 1 , #
F . B L A N K E N H O R N , C a s h ie r .
WE SOLICIT THE AGENCY
or
N A T IO N A L
BANKS
A t a C h are« o f $5 per A n n u m .
GREEN & CUNNINGHAM,
R e a l E sta te B r o k e r s
1405 F STREET, WASHINGTON, D. C.
Reference: Hon. A. U. Wyman , Ex-Treasurer
U. 8.. Omaha. Neb.
________________________ __
Texas National Bank,
SAN AN TO N IO , T E X A S .
Bondholders are hereby notified that engraved
certificates can now he obtained o f the Central
Trust Company, New York, In exchange for Wabash
First and Second Mortgage Bonds; or for the tem
porary receipts heretofore issued.
The New York Stock Exchange has consented to
place the above engraved certificates upon the reg
ular list.
The Bank Note Company have not yet furnished
engraved certificates for the CONSO LIDATED CON
VERTIBLE, the 7S OF 1879 and the FUNDED
DEBT BONDS; but as soon as they are received,
further notice will be given.
Nearly $20,000,000, out of a total of about $28,000,000, have assented to the plan; and proceedings
for its consummation under the agreement will be
prosecuted without delay.
Pamphlets giving details of the reorganization
may be obtained from the Central Trust Company
54 Wall Street, New York.
JA M E S F. JO Y ,
1
T . H . HUBBARD,
l Purchasing
E D G A R T . W E L L E S , JCommittee.
O. D . A S H L E Y ,
J
CYRTTS J . L A W R E N C E , 1
H E N R Y K . M cH A R G ,
' Bondholders’
Committee.
TH O S. B . ATKINS,
F R A N K N. L A W R E N C E
New Y o rk , February 25, 1888.
COLLECTIONS AND INVESTMENTS MADE.
________
Correspondence invited.
j
No. 20 Na s sa u St ., !
New Y ork , Feb. 24,1888. !
Chesapeake & Ohio R/y Co's
security holders not in accord with the syndicate
plan of reorganization are advised that the names
of the committee (representing the opposition to the
proposed plan) will be published in course o f next
week. The undersigned, a holder of and represent
ing various securities, will receive any suggestions
and answer communications on behalf of the com
mittee.
MERCHANTS’ NATIONAL BANE*
R IC H M O N D , V I R G I N I A .
Collections made on all Southern points on best
terms; prompt returns. Joh n
JOHN P. BRANCH, President.
F. Gle v n . Cash. F r e d . R. Sc o t t , Vice-Pres.
T H E M ID D L E S E X R A N K IN G C O .,
I
MIDDLETOWN. CONN.
Capital Stock, P aid up, - - - • $5(10,000
S I X P E R CENT F IR S T M O RTG A G E
D EBENTURE BONDS
and mortgage notes guaranteed. Interest payable at
National Bank of the Republic, New fork. Under
same supervision as Savings Banks. Chartered
IK 7 2 . The amount of outstanding obligation
L im ite d b y S ta tu te .
_ v.
O ffices— Boston, 54 Equitable Building; New York,
II Wail St.; Philadelphia, 512 Walnut St.
MINNEAPOLIS 6 PER CENT GOLD
DEBENTURES,
Q U A D R U P L Y SECURED.
SAFE AND MOST DESIRABLE SECURITIES.
Send for circular or apply to
N E H E R Sc C A R P E N T E R , B an k er«,
i ROY. N. r .
Eastern Managers for Minneapolis Debenture and
Northwestern Guaranty Loan Companies.
Authorized Capital, $4.000,000; Paid-up Capital,
$350.000: Surplus. $50,701.
Albert
Pearce,
1 6 Sc 18 B R O A D S T .,
BROKER IN A LL KINDS OF INVESTMENT
BONDS, MISCELLANEOUS SECURITIES
AND DEFAULTED BONDS.
Correspondence Solicited.
fY F F IO E OF TH E
O N TA R IO S IL V E R
U MINING COMPANY, MILLS BUILDING, 15
Broad Street , New Y ork , Feb. 20,1888.
D IV I D E N D NO. 141.
nnHE INVESTORS
AGENCY
(M. L. SCUDDER, Jr ., PROPRIETOR
240 LA SALLE ST., CHICAGO ILL.
The Regular Monthly Dividend of FIFTY CENT8
per share has been declared for January, payable
at the office of the Company, San Francisco, or at
the Transfer Agency in New York, on the 29th lost.
Transfer books close on the 25th inst.
LOUNSBERY 8c CO.,
_________________
Transfer Agents.
R eports Concerning Affairs oi C orporation •
railroads especially .
Large Library Railroad Documents,
(Successors to WALKLEY 8c CO.),
Competent Experts
Confidential Reports,
10 W A L L S T R E E T , N E W Y O R K ,
Moderate Charges.
JAMES IKVTNE, Pres't.
L. Y . WAl k l k t Seo’y J Send for circular.
............................. $ 3 ,5 0 0 ,0 0 0
New Y ork , May 14, 1887.
This Bank is now opened for business. Account*
respectfully solicited. The usual banking facilities
extended to customers. *
Orders for purchase or sale o f securities will
receive careful attention.
Foreign Exchange bought and sold. Facilities for
keeping accounts in Sterling Exchange, subject to
draft in kind, will be afforded. The methods o f re
ceiving such deposits and making payment against
them will be subject to arrangement.
On Lines East of the Mississippi River.
Equipment
W e offer the above at low prices lor cash
or on easy terms or Car Trust | or will
exchange lor good securities. Whether
you wish to buy, sell, or trade, it will pay
you to write us lor 1h11 particulars.
CAPITAL,
J. S. A l e x a n d e r , Pres. A. A. A l e x a n d e r , Cash’r.
To Wabash Bondholders
W IL L IA M STRAU SS.
Railway
Cashier.
Assistant Cashier
C IT Y OF NEW Y O R K .
9 1 ,0 0 0 ,0 0 0
1 0 0 ,0 0 0
NOTICE OF SALE OF CITY BONDS.
H. A. Smith ,
President.
Chesapeake & Ohio R'y Co.
Id accordance with the terms of the reorganiza
tion agreement, holders of
payable half-yearly at the office of TH 5 MER
CANTILE TRUST CO., NEW YORK. These
Debentures run for Ten years, but with the
option of redemption at the end of Five years
They are direct obligations of the Company
and are farther secured by an equal amount of
Real Estate Mortgages on improved and pro
ductive Real Estate worth from three to five
times the amount of the mortgages, held by THE
MERCANTILE TRUST CO., which under special
Articles of Agreement acts as Trustee for the
holders of the Debentures. They are issued in
denominations of $500, $1,000 and $5,000
These Debentures are a very desirable class
o f investments for Estates and Trust Fundsand for individuals and corporations desiring
an exceedingly Bafe investment, with a com,
paratively high rate of interest.
M o r t g a g e s o n R e a l E sta te in Kansas City,
and improved farms in Kansas and Missouri,
at not to exceed 40 per cent of the value, are
also offered investors.
Write for further infoi mation and references
to any one of the company’s offices at
K A N S A S C I T Y M O .,
N E W Y O R K , 239 Broadway;
L O N D O N , E N G L A N D , 95 Gresham Street.
F. Blankenhorn ,
' Ch arles J. Ca n d a ,
Vice-Pres’t.
The Western National Bank
K A N SA S C IT Y , M O.
S IX P E R CE N T D E B E N T U R E S ,
Conrad N. J ordan ,
OF THE
MORTGAGE TRUST 00.,
C A P IT A I. P A ID UP, SU R P LU S, - - - - - -
T
Augustus Floyd,
42 PINE STREET,
BROKER IN
IN V E S T M E N T
S E C U R IT IE S .
No B u sin ess D on e on M a rgin *.
THE CHRONICLE.
VI
'g u s n x K u tz .
FO R TY-TH IR D
[V ol. XLVT,
____________ I f i t t a t t j c i a t .
ANNUAL
F IR S T H O R T 6A G E
REPORT
S IX
OF THE
PCR
CENT
BONDS
0 7 THIS
NEW YORK LIFE INSURANCE CO.
Kansas City Water Co.
Office: Nos. 346 & 348 Broadway, New York.
DUE 1 9 0 7 . P A Y A B L E A F T E R 1 8 9 4 .
Interest May 1 and November 1.
J A N U A R Y
1,
1888.
C E N T R A L T R U S T COMPANY OF N EW
A m o u n t o f N et Assets, J a n u a r y 1 , 1 8 8 7 ......................... $ 7 1 ,8 1 9 ,6 2 3 4 8
REVENUE
ACCOUNT.
-Premiums............. .........ft................................ $19,328,519 87
Less deferred premiums, January 1,1887 1,041,666 15—$18,286,853 72
Interest and rents, etc.................................... 4=,'¿52,430 50
Less interest accrued January 1,1887 ...
486,497 10— 3,765,933 40—
22,052,787 12
$ 9 3 ,8 7 2 ,4 1 0 6 0
D IS B U R S E M E N T
ACCOUNT.
Losses by death, and endowments matured and discounted
(including reversionary additions to same).....................
Dividends (including mortuary dividends) annuities and
purchased insurances.................................... . ...................
Total paid Policy-holders........................ $9,535,210 79
Taxes and re-insurances...........................................................
«Commissions (including advanced and commuted com
missi >ns), brokerages, agency expenses and physicians’
fees, e tc.................................................................................
Office and law expenses, salaries, advertising, printing, &e.
$1,361,366 83
5,173,843 96
264,495 60
3,531,026 08
629,360 98—
Oash on depisit, on hand and in transit.................................
United States bonds and other bonds and stocks (market
value, $52,v55,814 82).......................................................
Peal estate.................. ................................................. .......... .
Bonds and Mortgages, first lien on real estate (buildings
thereon insured for $14,000,000 and the policies as
signed to the Company as additional collateral Security)
"Temporary loans (market value of securities held as oollatteral, $2,404,853).................................................................
"’’ Loans on existing policies (the Reserve on these policies,
included in Liabilities, amounts to over $2,000,000)___
■•Quarterly and semi-annual premiums on existing policies,
due subsequent to Jan. 1 ,1 8 8 8 ........................................
’•Premiums on existing policies in course of transmission
and collection. (The Reserve on these policies, in
cluded in Liabilities is estimated at $1,300,000)...........
Agents’ balances..................... ................ . ..........................
-Accrued interest on investments, January 1, 1888..............
$3,038,499 60
Subject to advance without notice.
T A IN T O R & H O L T ,
No. 11 WALL STREET,
49,088,286 14
6,887,092 59
Corner of New Street.
15,969,372 78
Chicago Burlington &
Quincy Railroad Co.
1,867,500 00
388,799 44
NEBRASKA EXTENSION,
1,174,340 36
FO U R P E R CENT BONDS,
839,156 08
170,792 59
488,477 59—
Market value of Securities over cost value on Company’s books
*A detailed schedule of these items will accompany the usual annual report filed
with the Insurance Department of the State of New York.
T O T A L A S S E T S , J a n u a r y 1, 1888
$79,912,317 17
3,167,528 68
Due M ay 1, 1 9 3 7 .
Sinking fund to purchase annually 1 per cent o f
whole issue at limit of 110 and interest, but n o
drawingaof bonds or compulsory retirement.
FOB SALE BY
$ 8 3 ,0 7 9 ,8 4 5 85
Appropriated as fo llo w s :
Approved losses in course of paym ent.................................
$327,078 38
-Reported losses, awaiting proi f, &c............................. .........
292,214 54
Matured endowments, due and unpaid (claims not pre
sented).................................................................. t ..............
27,582 30
Annuities due and unpaid (claims not presented)................
13,042 96
Reserved for re-insurance on existing pol
icies ; participating insurance at 4 per
cent Carlisle net premium; non-partioipating at 5 per ct. Carlisle net premium $68,807,642 00
Additional amount of Reserve (transferred
from Surplus Account) required on ac
count of new State Standard of valua
tion (Actuaries’ 4 per cent), taking
effect December 31,18 ; 7 ........................ 1,592,098 00 - $70,399,740 03
AUGUST BELM ONT & CO.,
36 W a ll S treet.
K ID D E R , PE A B O D Y & CO.,
1 Nassau S treet.
Fifth Avenue Hotel,
M ad ison Square, N E W Y O R K *
The Largest, Best Appointed and Moat Liberally
Managed Hotel in the City, with the Moat Central
and Delightful Location.
HITCHCOCK. DARLING & CO.
Reserved for contingent liabilities to Ton
tine Dividend Fund, January 1, 1887,
over and ab ive a 4 per cent Reserve on
existing policies of that class................ $4,176,425 25
Addition to the fund during 1887...............
1,785,602 5 4
Bible Hotel,
AM STERD AM , H OLLAND.
Beautifully Bituated in the centre of the elty, close
to the Railway Station and the Exchange. First,
rate cooking. Excellent wines. Moderate prioes.
W. P. WERKER, Manager.
$5,962,027 79
646,306 96
-Balance of Tontine Fund January 1,1888
Beserved for premiums paid in advance...
The works have cost over $ 1 ,0 0 0 ,0 0 0 , and the
company supplies with water the metropolitan dia
trict of KANSAS CITY, MISSOURI and KANSAS,
containing a population of over 3 0 0 ,0 0 0 . A first
mortgage for $ 9 0 0 ,0 0 0 has been placed upon the
property, real estate, franchises and privileges o f
the company,and $ 5 0 0 ,0 0 0 are offered for sale, the
balance being reserved for future needs. The works
are operated by the NATIONAL WATER WORKS
COMPANY, under a contract providing that the net
revenue per year shall not be less than $ 5 4 ,0 0 0 , a
sum equal to the interest upon this entire loan.
P rice, P a r and Accrued In terest,
13,980,093 43
$ 7 9 ,9 1 2 ,3 1 7 17
A 88E T8.
DEDUCT—
Returned to Tontine policy holders during
the year on matured Tontines...............
Y O R K T R U STE E S.
5,315,720 83
52,886 73
D iv isib le Surplus (C om pan y’s n e w S ta n d a r d )......... .
$ 7 6 ,4 2 8 ,2 6 5 74
6 ,6 5 1 ,5 8 0 11
$ 8 3 0 7 9 ,§ 4 5 85
S u rp lu s b y th e p resen t N e w Y o r k State S ta n d a rd ,
*
*
i e ., 4 p e r c e n t A c tu a rie s’ (in clu d in g th e T o n tin e
F u n d )............................................................................................. $ 1 1 ,8 4 6 ,7 9 3 0 6
Massasoit
House,
S P R IN G F IE L D , M ASS.
THE BEST APPOINTED HOUSE IN WESTERN
NEW ENGLAND.
Convenient for the tourist or business man. Near
Union Depot.
_
W . II. CH APIN .
From the undivided surplus, as above, the Board of Trustees has declared a Reversionary
•dividend to participating policies in proportion to their contribution to surplus, available on
•settlement of next annual premium.
Number o f p olicies issued during the y ea r, « 8 ,5 3 3 . R isk s assumed, $ 1 0 6 ,7 4 9 ,3 9 5 .
T o t a l num ber o i policies tu force D ecem ber 31, 1887, 1 1 3 ,3 3 3 . Amount at risk ,
Spencer Trask & C o .,
T R U S T E E S :
Albany, N.Y.
Providence, R]I.
Saratoga.
V M . H. APPLETON,
WILLIAM H. BEERS,
WILLIAM A. BOOTH,
H on . BENJ. H. BRISTOW,
HENRY BOWERS,
JOHN CLAFLIN,
ROBERT B. COLLINS,
ALEX. STUDWELL,
ELIAS S. HIGGINS,
WALTER H. LEWIS,
EDWARD MARTIN
RICHARD MUSER.
GEORGE H. POTrS
C C. BALDWIN
JOHN N. STEARNS,
W5T. L. STRONG,
W. F. BUCKLEY,
HENRY TUCK,
A. H. WELCH,
L. L. WHITE.
BAN K ERS & BROKERS,
16 and 18 Broad Street, N. Y*
Transact a General Banking Business,
Special attention given to Investment
Securities.
WILLIAM H. BEERS, President.
T H E O D O R E M . S A N T A , Casliler.
Direct Private Wires to each office and to
HENRY TUCK, Yic e-President.
PHILADELPHIA,
A ,| a p T I N G T O t , m .
ARCHIBALD H. WELCH, 2d Y.-Pres’t.
a
BOSTON,
M e d ic a ' D i r e c t o r . !
W, WEEKS, Astuarj,
[W O R C E S T E R »
H U N T 'S
MERCHANTS’
%
M AG AZIN E,
f^ w s s p a p n ,
REPRESENTING THE IN D U S T R IA L A N D COMMERCIAL IN TERESTS OP TH E U N ITED STATES,
SA TU R D A Y, FEBR U AR Y 25, 1888.
YO L. 46.
THE CHRONICLE.
Clearing House Returns.......... 237
The Financial Situation............. 238 Monetary and Commercial
New York......................
The Fisheries Settlement........ 240
English News......................... 243 Sales of—
(Stocks............. shares.)
Railroads in the General In
Commercial and Miscellaneous
(Cotton............. bales.)
dustrial Straggle................... 240
(Grain......... bushels.)
The Burlington & Quincy
(Petroleum...........bbls.)
Statement..........................
241
Boston...........................
THE PANKERS’ GAZETTE.
Providence....................
Mon<y Market, Foreign Ex
Prices of Active Bords at N. Y.
H artford......................
Stock Exchange, and Range
chi nge, U. States Securities,
New Haven...................
Portland........................
State end Railroad Bonds
and Stocks.........................
246
Snringfleld...................
Ranae in Prices at the New
• Lowell.- .......................
Yoik Stock Exchange....... . 247
Terms of Subscription—Payable in Adyance :
For One Year (including p o s t a g t)................... .................$10 20
For Six Months
do.
.............. .
6 10
European Subscription (including p'stage)............... .
11 28
Annual subscription in London (including postage)......... £2 7s.
........ JE1 8s.
Six Mos.
do
do
do
Subscriptions will be continued until definitely ordered stopped. The
publishers cannot be responsible for remittances unless made by drafts
or Post Office Money Orders.
These prices include the I n vestors ’ S u p p l e m e n t , of 120 pages
issued once in two months, and furnished without extra charge to
subscribers of the Ch r o n ic le .
a file cover is furnished at 50 cents; postage on the same is 18
cents. Yo.umes bound for subscribers at $1 00.
L on d on A g e n ts:
Messrs E d w a r d s & Sm ith , 1 Drapers’ Gardens, E. C., who will take
subscriptions and advertisements and supply single copies of the paper
at Is. each.
w illiam b . DANA. (
® ^ V A & C o ., P u b lis h e r s ,
JOHN u.
f l jri.vxv.
FT OYT)
1f
10^
t T 6 6 t ak o
NxE 958
W .Y O R K *
posT Q$ffice
CLEARING
HOUSE
RETURNS.
Week End’g Feb. II .
Week Ending Feb. 18.
C O N T E N T S .
S ite © I m m it k .
NO. 1,183.
1888.
P. Cent.
1887.
1SS8.
$
527,254,663
$
637/61,508
82/54,916
5,013,000
1,706.207
1,097,583
827,285
915.708
1.068,820
721,859
82.436,596
4.723,400
1,724,705
1.041,917
818,300
791,160
789,698
527,281
+ 0-3
+6-1
—1-1
4 5'3
—2*5
+15-7
4 86 0
4 36 9
82,059,448
4,748,900
1,637,474
1,065,495
908,297
870,780
1,065,164
537,080
Total New England...
94,005,378
92,876,057
92,892,688
Philadelphia..................
Pittsburg.......................
Baltimore......................
56.469.292
10,294,258
10,781,875
57,734,904
8,754,170
11,812,888
+1-2
—2‘2
+17 6
-8 7
Total Middle...............
77,545,425
78,801,462
—10
74,012,547
Chicago........................
Cincinnati......................
Milwaukee.....................
Detroit.........................
Indianapolis.................
Cleveland......................
Columbus......................
Peoria............................
Omaha..........................
Minneapolis...................
Denver...........................
St. Paul..........................
Grand Rapids................
Wichita..........................
Duluth*..........................
51,943,646
9,642.350
3,952,473
3,880,628
1,880,466
2,838,771
2,154,619
1.372/9)
2,481,580
2, 91,259
2. 00,459
3,328,729
558,897
681,078
1,019,037
236,547
48,197.946
11,881.750
3,454/52
3,512,584
1,242.182
P,114,075
1/44,181
965/05
2.250.736
2,728,442
1.752.577
3,450/93
896.624
1,505,254
+7-8
—18*8
+14 4
4-10-5
+47-4
—8'8
+31-1
4-42-2
+32-5
+9'6
+31 3
—8-7
+40 9
—54'8
51,819,905
10,9¡9,300
4,052.071
4,275,107
2,176.808
2,830,947
2,498,448
1,406,946
2,851/36
3,180,636
2.895,870
3,738,197
511,342
751,589
1,204,621
206,008
P. Cent.
—17-3 550,270,538 —i7*a •
(708,560) (1,546,198) (—54-2)
(788,437) (—65-0)
(685,400) H-83‘5)-'
;336,400)
(267,700) (+25-3)
(30,694.685) (40,016/00) (-23-3) (F5,316,625) (—106>
(25,0*6,000) (26,448,000) (- 5 4) (16.132,000) (- 53 0)
52.869,235
10,719.505
10,423,807
+0-6 :
-f7'6
4-2-7
—141
4 58'
—1-5
+30 9 '
t 6'0
-Í6 4
—1-65
+14-0
—2-«.
+0-3 :
+I5*5>
+2-2l
-9 6 ,
+25 9 +44'6-
—21-6
+55-5,
+54-7,i
+24-1.
+11-7
+87-27,
+16-3.
+26 5 .
-4 7 0 .
Total Western...........
90,457,651
86,102,403
+5-1
93,468,800
+1.2-6-..
St. Louis.......................
St. Joseph......................
New Orleans..................
Louisville......................
Kansas City...................
Memphis.., ..................
Galveston......................
Norfolk..........................
17.267,577
1,325,934
9,405,745
5.900,218
0,936,368
2.061,850
785,955
919,272
15,918,848
1,364,678
9.2H.676
5,319/86
7,862,677
2/21.294
930,969
877/39
+8'5
+13-8
+ 21
+10-9
-11-8
—11-2
—15 6
+4'7
18,925,135
1,368,858
11,584,981
6,272,157
0,761,2*9
2,104.495
950,523
841,472
+13-3
+ 33'5+14-6
Total Southern..........
44,602,919
43,606,867
+2-3
48,808,849
8an Francisco...............
17,066,057
10,848,561
+57-8
35,486,896
+8‘2;
—3-8—12-6
—17-4,
—81
There is a further falling off in the volume of clearings this Total all...................... 850,932,093 949,696,858 -1 0 4 874,940.268
48-a3-í4,l69,730
week, but it is wholly due to small speculation at New York, Outside New York....... 323/77,430 311,735,350
*
Not
included
in
totals.
the aggregate number of shares dealt in being the smallest
The returns of exchanges for the five days, as received byfor any full week since we began our record. On the Boston
Stock Exchange transactions reached a much smaller total telegraph this evening, are given below, and they cover onlythan in the previous week, and yet the exchanges there record four business days, Washington’s Birthday having interveneda slight increase. But, as a whole, the present exhibit is un Contrasted with the five days o f 1887, the total for the seven,
satisfactory* not only compared with the previous week, but cities records a decline of 3-2 per cent. Our estimate for the*also with the week of last year. The New England and Mid full week ended February 25 indicates a decrease from a yeardle sections show some addition to the figures of February 11, ago of about 1*5 per cent. Messrs. R. G. Dun & Co. report,
the number o f failures for the week ended to-night as 27(b
but in the West and South this has been more than lost.
Compared with the similar period o f 1887 there is a loss in (237 in the United States and 33 m Canada), against 273 last;
' the aggregate of 10*4 per cent, New York recording a decline week and 209 for the same -time a year ago.
o f 17’3 per cent, and the gain outside o f New York reaching
Week Ending Feb. 25.
Week End’g Feb. 18».
3'B per cent. W ichita continues to exhibit a decided decrease Returns by Telegraph.
1888.
1887.
1888.
P. Cent.
P. Cenífrom a year ago and the falling off at Cincinnati, Galveston,
Kansas City and Memphis is quite marked. On the other
%
«
$ '
New-York....................
374,384,578 892,520,106
- 4 6 426,008,420 -21-7hand, there are some heavy percentages of excess, notably Sales of Stock (shares)....
(440,915) (—66'8>
(522,344) (1,043,834) (-50 0
70,488/80
Boston.^........................
56,238*696 58,423,755
+0-7
-3-7
San Francisco,157’ 3 per cent p Indianapolis, 47*4; Peoria, 42'2 ;
—4 6;
46,605,177
Philadelphia..................
—74
42,034,011
45,397,536
'Grand Rapids,840’9 ; Lowell, 36-9 t' Springfield, 86*6; ’Omaha, Baltimore.,....................
9,932,976 —19 4
8,750,849 —10-28,003,488
32-5^ Denver, 31 *3,‘ and Columbus, 31T per cent.
+ 7‘S~
35,070,000 +16-3
43,891,000
40,777,000
Chicago..........................
12,623,017 +11-1
+6-5
14,027,675
14,414,158
Operations on the New York Stock Exchange for the week St. Louis........................
0,087,360
•+90
6,635,051
+l-ft
New Orleans.................
8,345/69
embrace a market value o f $38,518,000, which contrast with
- 8 2 ■ 618,003,453 —15-»*
Total, 5-days............ 542,100,469 0 560,060,770
$71,590,000 for the similar period a year, ago. Pursuing our Estimated
+7-4
- 2 7 137,701,064
1 day ....... 130,102,422 189,900,401
usual method of deducting two-and-a-half times these values
678,202,921 699,961,171
-3-1 755,710,517 —10-7
Total full w eek .....
from the New York ’ totals, leaves’ a^the exchanges arising" •Balance Country*......... 88,423,142 77,840,063 +13 6 •95,221,576 1+10-4,
throiigh other business $430,959‘,«63 and $459,986,508 respec-1-5 850,932,093 -10-4.
' Total week, alL........ 706,620,063 777,807,234
AayBljin th^ two yearsj or a loss of 6’3 per cent,
f Fçr the
week.
en hurt week’
two#,
THE CHRONICLE.
238
THE FIN AN C IAL SITUATION.
There has been no essential change in the rates for
money the past week. On call, so far as expressed by
bankers* balances, the range has been from
to 2 per
cent, averaging about 2-J per cent; banks are loaning on call
at 3 to 4 per cent. For time money loans are quoted at 4
per cent for ninety days to four months and at 4-^ to 5 per
cent for six months on first-class collateral, and at 5 per cent
for the former period and
to 6 per cent for the latter on
good mixed collateral. The demand is not urgent, but
there is a fair inquiry, which is supplied mainly by our city
trust and insurance corporations and by some out-of-town
institutions. Commercial paper is in good supply.
e
demand from our city banks is limited, the most of them
having full lines and not being disposed to increase their
holdings; but there is a better inquiry from out of town»
chiefly from the East. Rates are 4^@5 percent for 60 to 90
day endorsed bills receivable, 5@ 5 £ per cent for four
months’ acceptances, and
to 6 per cent for good single
names having from four to six months to run.
The check which the previous two weeks have shown in
the net flow of money towards this city, added to the fact
that surplus revenue by accumulating in Treasury vaults
is again depleting the banks, while foreign exchange is
gradually advancing, has tended to increase the conserva
tive feeling which has of late prevailed among bankers.
W hile desirous of advantageously employing the funds in
their charge, they are indisposed to largely tie them up
or put them in a shape where they may be beyond
reach.
A t the same time, unless business takes
a new start, we cannot, even with accumulations in the
Treasury progressing, see how the large amount of cu r
rency which must still be afloat can find occupa
tion through the summer. This week the tendency
towards this city in the flow of money has reasserted
itself, while the outflow has been stopped in good part,
so that there is a considerable net increase on the interior
movement. It should not be forgotten also that Congress
must— and can we not say will— provide a way for get
ting out the surplus before it adjourns. A t least the
bond-purchase bill reported by Mr. Mills, of the W ays
and Means Committee, is very sure to pass.
" A feature in the London market this week has been a
hardening in the open market rate of discount for 60 day
to 3 months bank bills. The cable reports the rate at the
close 2 per cent, against I f last week. This may be due
to collections of the revenue, which at this period of the
year absorb the market supplies of money to some
•extent. Possibly it may have had some connection with
the announcement on the part of the Russian Finance
Minister that immediate steps for the establishment of a
metallic currency standard in that country were to be
taken and the reported order for “ extensive purchases
•of foreign gold.” If anything serious looking to that
end is really determined upon, it might have a very
important effect upon the world’s gold reserves not only
in its immediate influence, but in the more remote. Russia
could be a wonderful absorbent of the precious metals. The
CTnited States made quite an impression on the accumu.
lated hoards of gold when specie payments were first
established here, and since then the net result has been
the retention of our own production and the drawing of
some portion of Europe’s supply. Russia could not sup*
port gold payments and do less. The open market dis
count rate at Paris is 2 f per cent, the same as the bank
rate, while at Berlin and Frankfort it is I f per cent. The
Bank of England reports a gain this week of £250,000
bullion, all of which has been drawn from the intenor.
fVoL. XL"VI.
The Bank of France has also gained £201,000 this
week.
Our foreign exchange market has been firm at an
advance of half a cent per pound sterling since our last.
The upward movement began with 60-day bills, which
were in demand, and were marked up chiefly because of
the scarcity of commercial drafts ; on Thursday there was
a rise in short sterling influenced as reported by dearer
money in London, and also by an inquiry to remit against
securities sold here for European account. The indica
tions at the moment point to higher rates for sterling,
but the situation may be changed at any time by offerings
of bills by bankers on loans already negotiated but not
yet fully drawn against. That resource is, however, limited»
and if availed of would be soon exhausted; so that with
the trade movement against us the future of exchange must
depend largely upon the demand in Europe during coming
weeks and months for our securities. For a time that
demand has been very quiet, and this was due not only to
the political situation on the Continent, but to the busi
ness and railroad situation here.
A s soon as Congress
takes any definite action as to taxes and surplus, so that
the future monetary prospects can be forecast with any
certainty, business ought to revive; and with the Reading
strike settled and the rate war in the west arranged there
would seem to be nothing to prevent renewed confidence
in railroad properties. Even now the earnings that are
coming in look much more favorable than the surroundings
gave reason for anticipating. Still it is not of course expected
that we shall go through the spriDg without sending out
gold. The only question is how much of the current debt
shall we pay in that way and how much in securities.
The trade situation continues hopeful.
A cautious
feeling, however, still prevails, pending Congressional
action upon the surplus question. A s far as the Reading
strike (and the consequent high price for coal) has oper
ated to restrict trade, the resumption of work by the
miners marks a distinct step forward. It is to be noted,
too, that the dry goods trade, usually a good index of the
state of general business, is reported to be in splendid
condition, especially cotton goods, with the demand
active and stocks very small. Indeed, it is a feature of
the situation that notwithstanding the drawbacks existing
consumption continues active in nearly all departments o*
trade. In some industries the producing capacity has
temporarily outstripped the consumption, large though
the latter is, facilities for production having been greatly
increased last year when the notion existed that there
was to be no limit to our future wants, but that is an evil
which is already working its own cure under the corrective
of low prices. In the iron trade, where many of these
conditions prevail, the tone may be described as some,
what better, though still unsettled. It is commonly sup
posed that the effect of the settlement of the coal strike,
in permitting the resumption of work by many
iron
furnaces
that
had
shut
down and thus
increasing production, will have a further weaken
ing effect upon the market. But there is another
side to the question. W ith cheaper fuel and a more
satisfactory condition as to labor (for the effect o f
the failure of the Reading strike must be to deter
laborers in other departments from repeating the experi
ment)— with these changes as to labor and fuel, furnacemen are in position to make closer calculations on their
product, and this will be sure to invite orders from con
sumers. It would seem certain, too, that though railroad
construction this year will fall below last year, there is no
likelihood of any such decrease in that respect as many
look for. Indeed, we think it may be positively affirmed
February
25, 1868.J
THE CHRONICLE
239
•that the total is not going down to the low figures of 1884 and there is nothing at present to cloud the prospect
and 1885. The South alsne will build a great deal of there. The main strength, however, lies in the fact that
additional mileage, many new projects there being now stocks are firmly held, and that there is no inclination on
pushed forward with great vigor. Another point should the part of holders to dispose of them at present figures.
not be overlooked, namely that to keep in order and Hence, even a slight buying movement has the effect of
properly equip our present vast system of roads requires pushing prices upward. There has been no pronounced
a great deal of work, and this of itself will keep many rise except in the specialties, but a gradual hardening of
industries active. W e note one illustration this week» values such as has been in progress for some time past. The
namely the Pennsylvania, which gave orders for 2,200 general public is doing nothing ; hence operations, as
cars and 70 of the largest locomotives— all in addition to heretofore, are confined to the professional traders, though
there has also been some covering of outst anding short
the work going on in its own shops.
It is a little too early yet to have a great many returns contracts. Yesterday Western Union and other Gould stocks
of net earnirgs for the month of January, but some of were a feature in the morning at advancing prices.
those that have come in are as stated above better than Lackawanna and the other coal stocks have remained
«xpected. Out of fourteen roads that have reported, five firm, notwithstanding the settlement of the strike in the
Earnings continue generally good
show diminished net-, and nine an increase. Most of the Schuylkill region.
(even
on
the
roads
engaged in the rate war), and
returns are from Southern roads, which are doing unusu.
money
continues
easy.
Foreign exchange, however, is
ally well. There is no rate war in that section of the
moving
up,
and
the
Treasury
is taking large amounts
country, while there is considerable development going on
of
money
out
of
the
market.
in manufacturing and general industry, and this of
The following statement, made up from returns collected
course is reflected in the earnings of the railroads. The
Central Railroad of Georgia, for instance, has increased by us, exhibits the week’s receipts and shipments of cur
its gross from $522,691 to $668,998, and its net from rency and gold by the New Y ork banks.
$147,534 to $234,059, the increase in the latter being over
Net Interior
Received by Shipped by
Week ending February 24,1888.
N. Y. Banks. N. Y. Banks. Movement.
58 per cent. The Richmond & W est Point Terminal roads
1774.000 Gain. (1,545,000
12,319,000
have also furnished exhibits for January, and only two
205,000 Loss.
205,000
Gold...................................................
o f the minor companies report losses in net, the Virginia
(979,000 Gain. (1,340,000
Total gold and legal tenders.... (2,319,000
Midland, the Richmond & Danville, the Charlotte Colum
The above shows the actual changes in the bank holdings
bia & Augusta, and the Columbia & Greenville all showing
of currency and gold caused by this movement to and
gains. The Nashville Chattanooga & St. Louis figures,
from the interior. In addition to that movement the banks
published by us last week, also indicated a small increase.
have lost $3,300,000 through the operations of the SubOutside of the Southern section, the Cincinnati Indianap
Treasury. Adding that item to the above, we have the
olis St. Louis & Chicago, the Chicago St. Louis & Pitts,
following, which should indicate the total loss to the New
burg, and the Keokuk & Western, exhibit diminished net,
Y ork Clearing House banks of currency and gold for the
but on the other hand the Baltimore & Potomac, the
week covered by the bank statement to be issued to-day.
Summit Branch and the Lykens Valley all show very
It is always to be remembered, however, that the bank
oonsiderable gains.
The Chicago & Northwestern has
statement is a statement of average» for the week, whereas
published its January gross. It shows a loss of $151,000,
the figures below should reflect the actual change in the
but this is better than expected considering the rate war
condition of the banks as between Friday of last week
in progress and the bad weather which prevailed during
and Friday of this week.
that month. It may be said that current returns of gross
earnings from that section are nearly all pretty good.
Into Banks. Gut of Banks. Net Change In
Week ending February 24,1888.
Bank Holdings.
For instance, the St. Paul shows an increase for the third
(979,000 Gain.. (1,840,000
Banks’ Interior Movement, as above (2,319,000
week and also the two preceding weeks of February. In Bub-Treasury operations................. 2,700,000
0,000,000 Loss.. 3,300,000
net the result may be different. Taking earnings as a
$6,979,000 Loss..(l,960.000
Total gold and legal tenders ... 15.019.000
whole, our statement on another page shows that 76 roads
The Bank of England gained £250,000 bullion dur
have reported for the second week of February, and ing the week, which represents the amount drawn from
though 21 of these have losses there is a gain in the the interior of Great Britain. The Bank of France reports
aggregate equal to 5£ per cent over the same week last an increase of 5,025,000 francs gold and of 3,475,000
year. For the third week there is a gain of 15£ per cent francs silver, and the Bank of Germany, since the last
on 13 roads, four roads having fallen behind. The report, gained 12,920,000 marks. The following shows
Northern Pacific makes an exceptionally good statement the amount of bullion in the principal European banks
for the third week, having increased its earnings from this week, and at the corresponding date last year.
$136,485 in 1887 to $254,319 in 1888.
February 24,1887.
February 23,1888.
On a slightly increased volume of business, the tend*
Banks of
lotal.
Silver.
Gold.
Total.
Silver.
Gold.
oncy of prices at the Stock Exchange this week has been
£
£
£
£
£
£
upward. There have been one or two favorable features
23,070,823
22,370,885 23,070,823
22,370.885
94,795,463
45,852,743
48,942,720
92,509,730
47,790,102
44,713,508
o f general importance. The Reading strike has termin France......... .
Germany....* 21,857,200 19,382,800 41.240.000 19,941,780 17,684,220 37.020.000
ated, and the miners have resumed work. In the North Aust.-Hung’y 0,081,000 14,035,000 21.310.000 0,350,000 13,953,000 20.303.000
8,160,000 13.065.000
west, the rate war still goes on with unabated vigor, but Netherlands.. 4.852.000 8.209.000 12.501.000 4.899.000
Nat.Belgium* 2.741.000 1.371.000 4.112.000 2.742.000 1,371,000 4.113.000
there have been a number of committee meetings with a National Italy 6.983.000 1.118.000 8.101.000 7,000,000 796,000 7.790.000
view to settling it up, and the general impression is that a Tot. this week 109,704,053 92,511,902 202,210,015 112,952,323 87,822,903 230,775,286
Tot.prev.w’k. 108,910,901 92,009,009 200,979,970 112,072,358 87,558,770 199,631,134
basis of agreement will soon be reached. It is this belief
* The division (between gold and silver) given in our table ol coin and
which has helped give tone to the market. However, bullion in tbe Bank of Germany and tbe Bank of Belgium is made from
the rise began with Southern stocks, though it subse the best estimate we are able to obtain; in neither ease is it claimed to be
accurate, as those banks make no distinction in their weekly reports,
quently extended to the rest of the market. Richmond merely reporting the total gold and silver; but we believe the division
& "West Point Terminal preferred especially scored a we make is a close approximation.
Note .—We receive the above results weekly by cable, and w ills
large advance. Southern securities possess this advan not all of the date given at the head of the column, they are the
tage, that earnings in that sectipn are unusually good; Returns issued nearest to that date—that Is, the latest reported figure s.
240
THE CHRONICLE.
[Vo L. XL\ 1».
The Assay Office paid $165,959 through the Sub*
R A ILR O A D S IN
THE
GENERAL
IN D U S
Treasury for domestic bullion during the week, and the
TRIAL
STRUG
G
LE.
Assistant Treasurer received the following from the Cus
The world’s industrial machinery is seriously out o f
tom House.
gear. Prices of commodities have declined to such an»
Consisting of—
extent that the producer whether of sugar cane or sugar,,
Date.
Duties.
Silver Cer
Cold
V. 8.
Cold.
wheat or flour, wool or woolens— everyone of them is-Notes.
Oertiflc’8. tificates.
seeking
some method of helping himself by squeezing his.
$46,000
$319,000
F e b .17.
$3 500
$57,000
$425,993 12
38,000 neighbor.
35,000
W e are not defending or excusing the arrange
** 18.
1,000
178,000
251,808 31
48,000
521,000
2 ,0 .0
« 20.
640,255 05
63,000
ments
made
; we are only speaking of their common*
69,000
821,000
6.000
116,000
1,013,664 84
“ 21.
origin. Trusts and railroad commissions, corners and
« 22
53,000
571,534 24
461,000
3,000
53,000
“ 23.
combinations express one and the same truth— that
$254,000
$2,300,000
$2,903
255
56
$331,000
Total.
$15.500
profits have declined until the margin is so trifling that the
Included in the above payments were $6,500 in silver struggle of nearly all industries is for bare existence. The
sugar and oil refiner, the cloth and nail producer (andl
coin, chiefly standard dollars.
these are mentioned simply as representative trades) live
only through an arrangement which puts cost of produc
THE FISHERIES SETTLEMENT.
tion at a minimum and graduates the product to the needs,
The fishery treaty, which haa been made public this of the public ; while all hands, the farmer, the spinner;,
w;eek, does not so far as we understand its limitations the refiner and the whole community of consumers, are
contain anything which should lead to its rejection. It striving to make the railroad take as large a share of the
burden as they possibly can.
appears to be a fair settlement of differences.
W e have been led to this subject again by some remarks
Of course our fishermen would have liked it better had
we got all we contended for— that is, if Canada had given of Mr. Jeffery, General Manager of the Illin- is Central
u p everything and we nothing. That result might have Railroad Company, made about two weeks since before
been attained by fighting or possibly by the odious pro the Senate Committee on Railroads of the Iowa Legisla
cess of “ bullying ” our neighbor. W e should have no ture. His appeal has to do with the Iowa division of th e
faith in “ bullying ” unless we meant to fight if the former Illinois Central. But that case is not a singular one, norfailed of its purpose, and neith. r court e under the cir is Iowa an exceptional State— both are representative^
cumstances would have been sanctioned by the public. Perhaps Iowa is just at present threatening to press its*
A s it is we secure nearly everything desired— the only roads harder than most other western and southern States'.
exceptions are the right to purchase bait and to trans Certainly the bills now before its Legislature are harsh in
ship the catch; and unless Canada intended to open her the extreme, but we do not presume they wi 1 pass, if at.
fisheries to us on equal terms witn herself, these scarcely all, in the form presented. Y et they are in keeping with?
seem to be points we could have expected to gain.
a general policy everywhere observable in the agricultural
A ll our just complaints and demands have been met States,— a struggle to lift from the farmer the bur.
and satisfied. It was because our fishing vessels were den of 50 cents for wheat and 8 cents for cotton regard
refused shelter and relief in distress that we were irri less of the effect on railroad income and raih\ ad condi
tated. Under the Tenth and Eleventh Articles of the tions.
treaty, full and fair provision is made to meet such cases.
Glance just a moment in a general way at the results o£:
W e are free to put in for shelter and for repair of dam this hostile action. Our country is a new one, and the
ages at all times, and in that event we can unload, reload, carrying trade particularly is built up out of hopes cem
trans*ship or sell, whenever unloading is necessary for tered in the future rather than expectations of any immee
Impairs, and may replenish outfits, provisions and supplies diate rewards. So a condition which affords no divi
damaged or lost. Toe only requirement is that if we dends for years after construction, is endured under theneed to stay more than twenty-four hours (Sundays and belief which is reasonable that the developments in pro
legal holidays excepted) our vessels must report to the gress everywhere will bring a return later on. W e have?
authorities, and if we wish to purchase we must get a no general compilations previous to 1872, and yet
license, which is “ to be promptly ” granted on asking for so far as we can gather from the reports, that anticipa
¿t without the payment of a farthing.
tion seems to have been before that date in some measure
Of course, such a “ fisherman” as Mr. Combs the Glou realized. Since then, taking Poor’s Manual as o u r
cester (Mass.) “ outfitter,” who says, according to a die* authority, we find a continual decline in the returns t o
patch in the New York Times, that what he wanted “ was stockholders. Even in 1872 the net dividends on the
that tl e duty on salt fish should be doubled, and the same whole system of roads was small, less than 4 per cent,,
on fresh”— of course he has failed in securing his desire. being only 3-91 per cent. But the decline from that,
But is it not true that even Mr. Combs himself had no point, especially during late years, has been rapid. I n
expectation that the result would accord with his 1880 the average had got down to 3-02 per cent and in
proclaimed wish?
Equally unreasonable was the 1886 the same compilation makes it only 2-04 p e r
Canadian hope that a reciprocity agreement would cent.
be ^reached as a return for affording our fisher
But descending to a particular statement for Icwa w o
men the comity and hospitalities which continued find Poor reports that the entire amount disbursed in divi
friendship required.
In a -word, »no one will be dends in 1886 on the roads of that State was $299,830.
satisfied,- never mind on which side of the line he lives, W e suppose that must refer to the roads wholly in the?
who anticipated a compromise securing to each country its State. A t all events, without determining its exact, mean
extreme demands. A t the same time we cannot but feel ing, we have this week the Railroad Commissioners’ report
that the more the arrangement arrived at is studied and for Iowa from which we obtain the following facts. On
the better it is understood, the more general ¡will, be the page 17 the total railroad mileage in the State is given at
Assent to its entire fairness and the gratification felt that so 8,130 miles. On page 78 the stock per mile of road is
.favorable a settlement has been reached.
g i 7 en at $19,347 31, which wculd make the stock^eover»
F ebruary 25, 1868.]
TH E CH RONICLE.
ing road in the State $157,293,630. Turning to pages 100
and 101 of same report we find in the last two columns of
the table on those pages, that the net earnings of all the
roads fo r Iowa over operating expenses, interest and rental
in 1887 was $3,397,491 89. On page 88 the taxes paid
that year in Iowa are given at $1,011,830 85. It is not
clearly stated whether the item of taxes has been deducted
from the foregoing. Assuming, however, that it has, the
result according to this report would appear to be that the
net revenue secured on Iowa business available for divr
dends on the stock of all the roads in the State, if noth’
ing at all were charged to betterments, would suffice for
only a trifle over 2 per cent on the stock.*
A fact not to be overlooked is that these figures and
■this average represent not little companies recently built,
Ibut a large mileage of established roads, such as
Illinois Central, Chicago & Northwest, Chicago & Rock
Island, Chicago Burlington & Quincy, Milwaukee & St
Paul, etc.— roads which, if they fared no better on their
mileage in other States, would soon be among the nondividend payers. For of course the stockholders could
not secure even the net above given, because a very large
part of it must necessarily have been devoted to better
anents, or if not, the properties within the State would
liave deteriorated during the year. Remember also that
■what is left out of the foregoing sum after deducting
¡betterments, is all, according to her own showing, tha
Iow a has hitherto been willing to allow the stockholder
in return for the capital they have put into the State,
and for the value which those expenditures have added
to property therein, and for all the other benefits the
State is receiving therefrom, among which we may
mention the payment of about 15 million dollars annually
to employes in the State and over one million dollars in
taxes. That is all it has been willing to allow in the past,
and now it threatens to take even that away, and more too.
T o be sure the roads are there and cannot get away or
“Strike back however harshly they are treated; besides they
are an impersonal, and, also, among the less enlightened
voter, an unpopular creature.
Y et how unwise and
hurtful such a policy must prove in the end we scarcely
need to discuss. Mr. Jeffery made that point very plain
in his remarks before the Senate Committee. It is most
obvious that legislation like that now proposed further
reduces net revenue and further cripples the roads. It
can only result in stopping railroad building in that section
and in the meantime it tends inevitably to lower the con.
•dition of all the roads in the State. W ooden structures
w ill not at best last long, and are always a source of inse
curity; cars are rapidly deteriorating and rails are wear
ing out. Mr. Jeffery estimates that for the two roads
owned by Illinois Central in Iowa (the Dubuque & Sioux
C ity and the Iowa Falls & Sioux City) four and a half
million dollars would be necessary to provide proper
equipment and to put in iron bridges, stone culverts, bal.
last and steel rails, all of which are needed; and yet even
now these roads have no net earnings, but “ show a
u loss when the operation expenses, taxes and interest
<< on bonded debt are charged up against them,” although
the former has a history running way back to 1856, and
certainly in the nature of things is entitled to an income if
fair treatment could afford it.
One is thus able from these few facts to see to what end
this struggle is rapidly tending.
No doubt great
sympathy will be felt with the farmer who has his
* On page 104 of the Commissioners’ Report is a table ‘ ‘Representing the
Condition of Roads in Iowa.” That table is manifestly incomplete,
and the results therefore erroneous, so that we have not used it. The
figures we do give are, as stated, from the details of the report and from
%]id pages mentioned.
... .
____
241
fifty cent wheat to get to market.
But has not the
point been reached when something else than the carrier
will have to bear the burden— when some other interest
will have to suffer for the farmer's benefit?
THE BU RLIN G TO N & QU IN CY STATEMENT\
There are few railroad companies in the country that
could, in the face of so many adverse circumstances, pre
sent such a favorable showing as the Chicago Burlington
& Quincy has made. For instance, the experience attend
ing many of its ventures in recent years has been the
reverse of fortunate. Its connecting and auxiliary roads
represent a large sum of money— on January 1, 1887, the
amount was $26,030,299— and yet the direct annual
return from this investment has been very meagre, though
doubtless a number of indirect benefits have accrued.
The results of building a line to St. Paul are too clearly
before the public to make it necessary to enlarge upon
that feature. Another unfavoring fact is, that while the
Burlington & Quincy is the largest corn carrier in the
Northwest, that crop for two successive seasons has been
very short. A t the same time the company lost the ser
vices of its able Yice-President and General Manager,
Mr. Thomas J. Potter, who for so many years was identi
fied with the property and in no unimportant degree con
tributed to its success.
It is because the company has had these burdens to
carry that it must be considered to have done well on its
operations. In the first place, it has maintained dividends
at the high rate of 8 per cent per annum, a distinction
enjoyed by only one other prominent company in that
section, namely the Chicago & Alton. That in itself is a
notable achievement. In the second place, the dividend
has been paid on a very large amount of stock, the Bur
lington & Quincy’s capital being over 76 million dollars.
W ith such a large capital and such heavy dividends, the
annual requirement for the purpose is over six million
dollars, and this the company has regularly paid. More
important still, the dividends have been earned, the state
ment for the late calendar year showing that notwith
standing a falling off of three-quarters of a million dollars
in not, there was a surplus of $94*0,071 on the operations
for the twelve months above all charges and the 8 per
cent dividends. A nd this independent of any income
from land sales.
On the other hand, there are certain considerations that
qualify somewhat the conclusions to be drawn from these
results. Thus the surplus remaining, though apparently
large, is yet comparatively small. This is so, since in the
first place it would have paid an extra dividend of only a
little more than one per cent. In other words, the com
pany earned not quite 9^ per cent and paid 8 per cent, the
distribution running much closer to the actual income
than most companies in these times allow. In the case o f
the Chicago & Northwestern we showed two weeks ago
that earnings were nearly 11 per cent on both classes o f
stock, while only 6 per cent had been paid on the common
and 7 per cent on the preferred. Even with dividends 8
per cent on both kinds of stock, that company would have
had a surplus on the year’s operations of $1,594,689, with,
less than 54 millions of stock outstanding, whereas the
surplus on the Burlington & Quincy is $940,071, with over
76 millions of stock out.
Moreover, this surplus o f
$940,071 remained only because the company did not
make the usual contribution to the Renewal Fund, repre
senting amounts spent for betterments and improvements
and paid for out of earnings. W ith the same amount
* devoted to this purpose as in the tv® years preceding*
242
THE
CH BONICLE
namely a million dollars per annum, the surplus for the
year would be wholly exhausted. W e do not know that
these betterments are an absolute necessity, but certain it
is that a sum has been regularly deducted for that purpose
in each of the nine years preceding, the amount varying
from $500,000 to $1,500,000, the average being exactly a
million dollars per year.
This latter suggests that we must go one step further in
order to interpret correctly the Burlington’s results. The
company has had such a prosperous career that it is not
enough to judge by the exhibit for a single twelve months'
period. W e must take the results for a series of years»
and see what the comparison shows. The annual surplus
will afford a good criterion of the tendency of things—
we mean of course the surplus for each year standing by
itself, irrespective of any accumulations from preceding
years carried forward as a balance. The surplus, too, must
be computed before taking out the amounts contributed to
the Renewal Fund, as the latter have fluctuated so widelyHence, we find that as against $940,071 in 1887, the sur.
plus in 1886 was $1,526,831; in 1885, $1,504,654; in
1884, $1,011,105; and in 1883, $2,488,646. This shows
a heavy falling off, the surplus for 1887 being smaller
even than for 1884; in fact, the amount is the smallest
for a whole decade. Even in 1878 it was $1,235,286»
with the stock less than 28 millions (the debt being equally
small), and in 1879 it was $1,657,530, with the stock only
31 millions, while in 1880 it was $2,272,380, with the
stock 54-£ millions.
There is one other point to be considered in connection
with the Burlington & Quincy’s affairs, and that is as
regards the relations between it and the Burlington &
Northern. The responsibility of the company for this
new line to St. Paul does not admit of question. Nor
does there seem to be any doubt that it is controlled in
the same interest. W e think it is generally recognized
now that the step was a very unwise one. W hen the
project was first broached we pointed out that it was both
unwarranted and uncalled for, the Burlington & Quincy’s
interests not lying in the direction of St. Paul and Min
neapolis. Some of our Boston friends, however, were
very sanguine as to the future of the line, and predicted
that within two years it would be paying dividends. The
figures have just been published for 1887, and they show
that on its own operatioñs the line fell $165,873 short of
meeting its charges. Since then a million of 7 per cent
equipment bonds have been issued, thus further increasing
charges; and in that connection it is interesting to note
that the Burlington & Northern’s first issue of bonds was
5 per cents, its second issue was 6 per cents, and now ils
third issue is 7 per cents. Besides, its earnings grew
steadily worse through the year, the net earnings for
November being only $7,999, and for December $15,112.
Under the present war of rates of course the showing
must be very much worse.
This is one phase of the matter. Another is, that under
existing circumstances, the Burlington & Northern is a
constant menace to companies like the St. Paul and North
western. The Quincy has hitherto refused to control the
action of the Northern, and hence the latter has acted the
part of a free lance. Moreover, having practically no
local business, it has devoted its whole energies to develop,
in g the through business between St. Paul and Chicago,
and for this purpose has cut rates between those points
very low. The result has been that the other roads men.
tioned, whose territory has been encroached upon and
which have local interests to protect, have been obliged in
self defense to carry the war into the Burlington & Quincy’s
territory further to the south, so that the latter is now suf
[70L . X L t f h
fering as severely as any of the distinctly northwestern
lines. And this is the situation to-day. The northwestern
lines will not fix up matters between Chicago and Omaha
and other Missouri River points (the Quincy’s territory)
till Chicago-St. Paul matters have been definitely adjusted.
W e do not mean to say that this is the only source of
existing difference in the Northwest, but it is by far the
most troublesome factor in the situation. There are two
ways out of the dilemma. The Burlington & Quincy can
either become directly responsible for the management of
the new road, assuming of course its charges, or it can, as
has been suggested, allow it to be managed in the interest
of a combination comprising aU the principal companies in
that section of the country. . The latter course is to be pre •
ferred, but even the former has obvious advantages over
the existing condition of things, for while under it the
Quincy might have to make good the deficiencies of the
Northern, on the other hand it would avoid ruinous losses
on the business in its own territory.
Whatever the outcome, it is clear from the figures cited
above that while the Burlington & Quincy is still able to
make a good exhibit on its operations, a lack of conserva
tive management in the future may risk its high position.
Its finances are undoubtedly in excellent shape, and yet
prudence would seem to dictate a reduction of dividends.
The latter would be a wise step, too, in view of the fact that
though the rate war may be settled up any time, yet the
company will feel the effects of the shortage of the corn
crop all through the year.
SEABOARD G R A IN RECEIPTS.
The January grain deliveries at N6w Y ork show a
decided change in the relative proportions contributed by
the different routes. Being a winter month the canal of
course plays no part in affecting results, and hence the
changes are all the more noteworthy.
The weather this year was decidedly adverse to a large
movement, while last year the conditions in that respect
were very favorable, and as a result of that and other cir
cumstances total receipts for the month were about 900,000
bushels smaller than in January, 1887, being 6,023,316
bushels, against 6,926,393 bushels. Y et in the face of
this heavy falling off in the total movement, two of the
roads have carried greatly increased amounts. These are
the W est Shore and the Pennsylvania.
The latter
brought in 978,336 bushels, against 540,915 bushels, and
the West Shore 1,610,956 bushels, against 958,805
bushels. In the case of the Pennsylvania the increase
may be in part explained by the fact that the
road’s proportion last year was unusually small, but
in the case of the W est Shore no such reason
can be assigned, as that road had a large ratio
even in 1887, when its proportion was 13-85 per cent.
Now this is raised to 26-75 per cent, the W est Shore
having brought in more grain than any other road with
the exception of the New Y ork Central, which had 28-73
per cent of the movement. On the other hand, the pro
portion of the Erie has fallen from 24-86 to 14-61 per
cent, and the Lackawanna’s ratio is only 4-83 per cent,
against 9 04 per cent of the total in 1887. The “ various”
roads (representing chiefly the operations of the Lehigh
Valley) also brought in greatly reduced amounts, namely
only 6-05 per cent, against 12-20 per cent. These changes
may be in some measure accounted for by differences in
interruption of traffic by the snow blockade; but no
doubt a better explanation was the need which
existed during the month for increasing as far
as possible coal tonnage by
all coal
carriers
because of the strike in the
Reading mines.
243
THE CHRONICLE.
February 25, I f 8?.]
The following table will show the receipts by each of the
various roads for January of the last four years. It will
[From our own correspondent.]
be noticed that the two Vanderbilt roads (Central and
L o nd on , February 11, 1888.
W est Shore) had 55-48 per cent of the total movement
A rather sharp spasm has passed through the political world
this year, against 45 per cent last year, 50 72 par cent in during the past week. The publication o f the Austro-German
treaty caused some anxiety, as although its provisions were
1886 and 51-97 per cent in 1885.
BECEIFTS OF GBAIN AT NEW YORK BY ROUTES.
Bush.
P.O.
Bush.
1885.
1880.
1887.
1888.
January.
P.O.
Bush.
P.C.
P.O.
Bush.
2,157,930 31-15
1,721,532 24-86
540,915 7-81
020,389 9-04
958,805 13-85
845,030 12-20
2,078,001 42-95
1,203,864 24-88
081,649 14-09
338,171 7-00
370,215 7-77
110,330 2-28
3,308,019 38-05
1,554,530 18-10
945,238 11-05
1,318,400 15-40
1,140,308 13-32
98,850 1-15
Total RR...... 6,854,770 97-2i; 0,850,601 98-91
75,792 1-09
108.540 2-79
River & coastw
Oanal............
Total all...... 0.023,316 100-Ö 6,926,393 100-0
4,788,230 98-97
50,000 1-03
8,305,405 97-73
193,917 2-27
4,838,290lioo-o
8,559,382iioo-o
N. Y. Central... 1,730,314 2V73
879,642 14-61
978,330 10-24
Pennsylvania..
291,142 4-83
Del. Lack.& W.
20 75
1,010,956
West Shore....
364,310 005
Various RR.’s.
O f course, these changes in the deliveries by the differ,
ent roads have also changed the earnings of the roads
from grain traffic. In calculating the revenue for this
year we have figured on the basis of an average through
rate between Chicago and New Y ork of 25 cents per
100 lbs. The official tariff was 27£ cents, but this
applied only on domestic business. On export shipments
the rates were various, so that the average of 25 cents is
likely to be rather too high. It will, however, answer as
a rough approximation. Last year we took the average
at 27£ cents, the official tariff being 30 cents.
APPROXIMATE GROSS REVENUE FROM THROUGH GRAIN TONNAGE.
Month of January.
Delaware Lackawanna & Western ...
Total...............................................
1888.
1887.
1880.
$
97.000
49.000
55.000
16.000
90,000
$
137.000
110.000
34.000
40.000
61.000
$
118,000
65.000
37.000
18.00C
21.000
$
132,000
61,000
37.000
52.000
45.000
807,000
382,000
254,000
327,000
1885.
Thus the total revenue was approximately $307,000
this year, against $382,000 last year. The Pennsylvania
and the W est Shore show greatly enlarged earnings, and
the other roads have suffered losses. Of course it is
understood that the revenue from this one class of traffic,
and a small one at that, offers no guide to the total earn
ings of these roads.
W ith reference to the grain deliveries at New York,
one other point always possesses interest, namely the
position this port holds to the other seaboard cities.
January is a good month for such a comparison, because
the canal not being open, we see the proportion New
Y ork has carried without the help of that agency. Below
are the receipts at Boston, Philadelphia, Baltimore and
New York, and each port’s proportion to the total for all.
RECEIPTS AT SEABOARD CITIES.
January.
1888.
Bush.
1887.
P.C.
New York........ 6,023,316 61-53
Boston............ 1,570,500 16-10
Philadelphia...
981,552 1006
Baltimore....... 1,204,709 12-31
Bush.
0,920,393 49 ( 9|
2,110,32614 95
2,013,467¡14-27
3,000,435] 21-09
Bush.
Open market rates.
1885.
P.O.
4,838,290 44-76
1,786,514 16-53
1,187,903 10-99
2.995,604 27-72
Bush.
P.O.
8,559,382 52-19
2,296,515 13-98
2.097,249 12-70
3,478,759 21-17
Interest allowed
for deposits by
Trade Bills.
J OItlv
Four
Stock At
Six
Three
Six
Four
Three
Months Months Months Months Months Months Banks. Call
2
2*6
4 2 ¿ 2*6 2*6® - 2*6® - 2%®3*6 29i®8*6 296@3*6
m
3Ì4 2 @ — 2 a — 2 @ — 2*6®3M 2*6@3*6 2*6@3*6 2
Vi
VA
3 1%® — 1*6® - 2 & — 2*6® 3 2*6®3 2M®3
Vi
1*6
3 i*6®i96 196® - 2 ® — 2 ®2*6 2*6@2*6 2M@3
Vi
1*6
3 i*4®i96 196® - 1*6® - 2 @3 2 @3 2 @3
«
$
0
13
*« 20
** 27
Feb. 4
“ 10 3
Jan.
1880.
P.O.
tolerably well known, the mere fact of its publication was
looked upon, in some light at least, as a threat to Russia; and
this anxiety was only partially allayed by the subsequent
speech of Prince Bismarck, since it was felt that his silence
onjjsome points was more significant than his eloquence upon
others. It is very clear that the Eastern Question may yet
prove to be a source o f considerable danger, and possibly in
the near future.
It is too early to estimate what will be the influence upon
trade of this new display o f political uncertainty, but its
effect upon Stock Exchange business was at once apparent
in the general restriction of dealings. Prior to this the im .
provement in trade seemed to be making fair progress. There
certainly has been room for greater animation in some depart
ments, but speaking more broadly we have no reason to com
plain o f trade since the opening of the year. That a sub
stantial stride has been made is abundantly evident from the
official statistics of the Board of Trade just published for Jan.
uary. From these returns it is seen that, together with the
expansion of our commercial relations with America, busi
ness with other quarters is also looking up. W e are doing
more with the colonies and the Continent, and it seems as if f
could we only be assured of peace, our position would sooil
be yet more decisively improved. Unfortunately, for some
years past we have invariably been frightened with the
approach o f spring|by the prospect of a war in which we
may, or may not, be involved; and this year has proved no
exception to the rule. Until the present threatening clouds
are dispersed, we must expect to be in a state o f uncertainty
as to our commercial future.
The Bank of England directors have decided to make no
change in the rate o f discount, the minimum being still re
tained at 3 per cent. The joint stock banks also keep up their
allowances on deposits at notice, namely, 1% per cent; but
the discount establishments have reduced theirs % per cent,
and now give 1 per cent for money at call and 1}4 per cent
if with notice. The general appearance o f the money mar
ket remains much the same. Short loans bring only about
3^ to 1 per cent and three months’ bills are discounted at 1%
per cent. The changes in the Bank of England return show
yet more distinctly the effect o f the revenue collections upon
money market. The total of public deposits has been in
creased by £1,939,665, while other deposits have been reduced
by £527,897. The Bank is thus gradually securing a firmer
hold over the outside market, a hold which which will become
stronger until the end of the quarter.
The rates for money have been as follows:
Bank Bills.
1*4®196 196® — 2 <® — 1%@2
2 ©2*6 2*6@2*6
1*6
i
7 to 14
Days.
2H-2H
2 -2
l*6-l*6
1*6-1*6
1*6 1*6
V i-V i
The following return shows the position of the Bank o f
England, the Bank rate of discount, the price o f consols, & c.,
Total............ 9,789,077 100-0 14,110,62V 100-0 10,808,311 100-0 16,431,905 1000
compared with the last three years :
Thus New York had 61-53 per cent of the total move
1885.
1886.
1887.
1888.
ment this year, 8gainst only 49-09 per cent last year’
£
£
£
£
Circulation, excluding 7-day and
44-76 per cent in 1886 and 52 09 percent in 1885. Boston
23,435,635 23,595,380 23,877,715 23,864,040'
7,197.954 4,757 541 4,663,562 8,356,042
has also increased its proportion somewhat. But Phila
24,644.948 22,983,000 25.406.555 23,535,423
16,200,774 13,129,782 18,744‘670 14,051,801
delphia and Baltimore have lost heavily, and especially
19,335.734 18,757,940 20,199,233 21,134,138
the latter, whose percentage has fallen from 21-69 to
14,394,250 13,969,016 14,270,534 14,878,221
21,029.885 21,814,396 22,398,249 22,992,201
12-31. Baltimore, however, is suffering greatly from the
44-91 p. C. 50 1-10 p.O . 45)6 P. c. 46% P. c.
failure of last season’s corn crop in the Ohio Valley. In
4 p. c.
3 p. c.
4 p.O.
3 p. c.
100% 100 9-16
102 5-16
99*6
illustration of the effects of that circumstance, we may
Clearing-House return................... 119,40 7,000 111,625,0(0 89,542,000 96,086,000
state that while the corn arrivals at New Y ork slightly
The Bank rate of discount and open market rates at the
increased, at Baltimore they fell from 1,069,927 bushels to ohief Continental cities now and for the previous three weeks
256,615 bushels.
have been as follows:
244:
Bates of
Interest at
Paris.................
Berlin...............
Frankfort.........
Hamburg..........
Amsterdam......
Brussels .........
Madrid.............
Vienna..............
St. Petersburg..
Copenhagen......
TH E CHRONICLE.
Feb.
10.
Feb. 8.
Jan.
Jan. 27.
20.
Bank Open Bank Open Bank Open Bank Open
Bate. Market Rate. Market Rate. Market Rate. Market
a
S
214
894
8«
Hé
1«
1H
»Hi
294
4
m
s
8
4
5
3
4
6 @0M
s
8
8
8
8
294
3«
4
4
5
3
254
IX
194
19é
214
294
4
394
S@6
8
3
3
3
3
294
314
4
4
5
3
3
194
m
194
214
294
4
314
6@594
3
3
3
3
3
2«
394
4
4
5
3
294
194
H4
194
294
3
4
394
594@0
8
Messrs. Pixley & Abell write as follows on the state o f t he
bullion market:
Gold is still in demar d for Holland, and all the small amounts to hand
have been secured for that quarter. The only transaction at the Bank
o f England to report is £120,000 in, from Egypt. Arrivals: £3,000
from West Indies, £58,000 from India and China and £7,000 from Aus
tralia; total, £68,000. Shipments £5,400, in coin, to Bombay.
Silver remained, steady until the 7th inst., several parcels finding pur
chasers during this time at 44 %d. Large amounts were offered during
the 6th and 7th, and the market gave way on the 8th to 44 %d. Consid
erable business took place at this figure and at 4 4 iiad., which is the quo
tation to-day, and at which 1he market closes firm. Imports: £50,000
from Chili, £24,000 from West Indies and £85,000 from New Y ork;
total, £159,000. Exports £114,600 to Bombay and Calcutta.
Mexican dollars are quite nominal in the absence of supplies. £26,999
to Penang and Hong Kong.
The quotations for bullion are reported as follows :
GOLD.
London Standard. Feb. 9. Feb. 2.
». d. s. d.
Bar gold, fine....os. 77 tJ4 77 994
Bar gold, contain’g
SOdwts silver..os. 77 10J4 77 1094
Span,doubloons., oz.
S.Am.doubloons.oz.
SILVER.
London Standard.
Feb. 9.
d.
44 1-16
Bar silver..........oz.
Bar silver, contain
ing 5grs. gold. .oz. 44 7-16
Cake silver....... oz.
4794
Mexican dols... .oz.
Feb. 2
d.
4494
4494
4794
Messrs. Baring Bros offer for subscription £1,888,000 four
per cent Nicolai (Russian) Railroad bonds, guaranteed by the
Russian Government. The price of issue is 75 per cent,
but owing to the political uncertainty the issue has not met
with much attention. Messrs. C. de Murrietta & Co. invite
subscriptions for an issue of £661,700, being the balance of an
entire loan of £1,261,700 five per cent first mortgage bonds of
the Santa Fe & Reconquista Railway; the price of issue is 87
per cent. The loan has the security o f the direct obligation
o f the Province of Santa Fe, o f the railway and its net pro
ceeds, and of the license tax of the S ate, subject only to pre
vious charges in favor of the Northern Colonies, the Northern
Colonies extensions, and the Western & Central Colonies
Railways.
The Board of Trade returns are favorable, although the
gain for January is not so heavy as was that for the previous
month, The exports for January exceed thoseYor the corre
sponding month of last year by £774,936, the bulk (£477,499)
being due to metals and articles manufactured therefrom
(except machinery). There is, however, one weak point in
the returns, and that is the falling off o f £219,789 in yarns
and textile fabrics. Otherwise a gain is shown under each
division. In the imports an increase of £3,755,566 is dis.
closed. The value of the metals imported has been swollen by
£760,154. The payments for copper show an excess of £355,€00, although the gain in the quantity received is less than
900 tons. In the value of tin imported there is an increase of
£140,341, against an increase in quantity of 5,276 cwts. Our
payments for food and raw materials for textile manufactures
show an expansion o f £2,144,000. The gross totals are as
under:
Imports.
£
1886................... ............ 28,683,039
1887................... ............ 31,047,422
1888................... ............ 34,802,988
-.[V O L , X L v r .
The wheat trade during the week has been in a state o f
extreme quietness. The demand has throughout been life
less, and the advantage has continued to rc st with the buyer.
A further quotable reduction can hardly be mentioned, but
had there been a disposition to force sales less money would
have had to be taken. There is a distinct disinclination ju st
now to buy largely grain for distant arrival. The expecta
tions, which certainly seemed warranted at the date of last'
harvest, o f a steadily improving range of values which
should ultimately pass beyond the level of last season, cer
tainly do not seem to be in a fairw ay for r< nlization. On the
contrary the movement of late has been retrograde in it»
character, and the average price for the season is still 2s. 4d.
per quarter below what it was for the corresponding portion
of the season 1886-87. And yet the statistical position isin favor o f a higher standard of values. W e have sold some300,000 quarters more home-grown wheat than we had dis
posed of at this time last year, while our imports have been
practically the same. The receipts of flour have certainly
increased by 1,300,000 cwts., but the quantity of wheat and.
flour afloat to us is some 900,000 quarters short o f this time
last year, and allowance must a’ so be made for the deficiency
of something like 2,500,000 quarters in the American visible
supply. However, just now statistics do not appear to besuch powerful levers to influence the trade as they formerly
were. The disposition is to limit operations as much as possible
and while business is of this hand-to-mouth character, a weak
tendency is easily engendered and the establishment o f an
advance correspondingly difficult. A quiet market in the
immediate future is clearly foreshadowed, and if the weather
be mild and open the dull tone will probably become con
firmed.
The following shows the import o f cereal produce into theUnited Kingdom during the past 23 weeks of the season
compared with last season:
IMPORTS.
1887-8.
1886-7.
1885-6.
1884-5.
Wheat..................ewt. 22,618,122 22,646,087 23,658,888 21,845,475Barley........................... 9,273.821 10,239.403
6,637,983 8,626,53!?
4,933,386 5,044,769O a ts............................. 8,254,968 7,046,609
Peas.............................. 1,684,602 1,098.717
967,264
980,889
Beans........................... 1,139,988
1,147,547
1,478,595 1,707,503
Indian co m ................. 10,214,186 11,585,719 12,025,638 8,977,814
Flour............................. 8,654,356 7,282,241
6,404,518 7.198,603:
Supplies available for consumption (exclusive o f stocks on
September 1):
1887-8.
1886-7.
1885-6.
1884-5.
Imports of wheat.cwt. 22,618,122 22,616,087 23,658,888 21,845,475
7,282,241
6,404,518
7,198,003
Imports of flou r........ 8,654,356
Bales of home-grown. 19,865,213 16,593,029 20,003,434 22,528,729
Total...................... 51,137,691 46,521,357 50,066,840 51,552,807
1887-8. 1886-7.
1885-6.
1884-5.
Aver, price wheat...... week. 30s. 8d
34s. 3d. 29s. 9d. 33s. 9d.
Aver, price wheat...... season. 30s. 2d. 32s. 6d. 30s. 7d. 32s. 6d.
.English F in a n c ia l m a rk e ts—-Per C able.
The daily closing quotations for securities, &c., at London are reported by cable as follows for the week ending Feb
ruary 24.
London.
Silver, per oz...............it.
Consols for money..........
Consols for account........
Fr’ch rentes (in Paris) fr.
U, 8. 4%s of 1891...........
U. 8. 4s of 1907..............
Canadian Pacific............
Chic. Mil. & St. Paul___
------- Exports.------ ,,—R e-ex p o rts > Erie common stock........
British J Irish Foreign <£ Oolo- Illinois Central...............
Pennsylvania................
Froduce.
niai Merck’dse. Philadelphia
& Reading.
£
£
New
York Central..........
17,212,781
3,481,109
17,808,735
4,202,239
18,583,671
3,963,925
Sat.
Mon.
Tues.
44
44
1025,« 1023,«
1025,« 1025,«
81-9712 82-05
1083t 108%
129
129
59%
5978
78%
78%
2778
28
12014 120*2
55%
55 78
34%
34%
IIOI2 110%
441,8
1023,«
1025,8
82-75
108%
129
58 78
78 7s
27 78
120%
55%
33%
110%
Wed.
Thürs.
441,«
1025,«
1027,8
81-87%
108%
129
58%
78%
27%
120%
55%
34
110%
44
1025,8
1025,«
81-97%
108%
129
58%
79%
27%
120%
55%
34%
110%
Fri.
43l5lfi,
1025, ft
102%
82-10
108%.
128%
5.8%;
79%
27%:
120
55 %
34%
110%
Œomm&vtixX smfl i^Xiscellattcows '¡/H
zvdb
The agricultural returns just published show that the yield
o f wheat in Great Britain last harvest was 74,322,747 bushels,
National B anks.—The following national bank has been
against 61,467,898 bushels in 1886, the total yield per acre
organized
since last advices :
being 32 07 bushels, against 26-89 in the preceding year, show,
First National Bank of Santa Monica, California. Capital.
ing an increase in the total produce of 12,854,849 bushels, or 3,845—The
$50,000. George N. Bonebrake, President; Edwin J. Yaw ter,
Cashier.
nearly 21 per cent, with an addition to the yield per acre of
5-18 bushels, or over 19 per cent. In England and Wales the
I mports and Exports for the W eek .—The imports of last
acreage under wheat increased 1-37 per cent, but in Scotland week, compared with those o f the preceding week, show a
decreased 10-31 per cent. The barley crop was only 31-32 decrease in dry goods and an increase in general merchandise.
bushels per acre, or 2-70 bushels below the average, the actual The total imports were $9,778,715, against $9,545,125 the pre
yield being 65,300,994 bushels. Oats yielded only 107,283,392 ceding week and $9,059,556 two weeks previous. The exports
bushels, against 116,596,481 bushels in the previous year. The for the week ended February 21 amounted to $5,472,428,
yield per acre was only 37-74 bushels, or 4 30 below the against $6,109,408 .last week and $6,086,608 two weeks previ
average.
1 ous. The following are the imports at New York for the
THE CHRONICLE.
F ebruary 25, 1888.]
week ending (for dry goode) February 16 and for the week
«riding (for general merchandise) February 17; also, total
'Since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YOliK.
1885.
For Week.
D ry G o o d s .......
-Gen’l mer’dise..
1886.
(
1887.
1
1
$3,205,668¡
4,685,102¡
$2,085,268!
5,753,429 j
$3,270,898'
6,541,997 j
$7,890,770'
$7,838,6971
$9,812,895'
1888.
$3,209,603
6,569,112
$9,778,715
Since Jan. 1.
Dry Goods........
-Gen’l mer’dise..
$16,205,415! $17,674,011 $20,907,471 $22,379,678
43,225,010
31,718,65l| 38,539,832, 40,330,266
T o ta l7 weeks..
$47,924,066 $56,213,843 $61,237,737 $65,604,688
245
—The Washington Life Iasurance Company’s twenty-eighth
annual report is published to-day in the Chronicle. Th9
figures all show an increase over the previous year; the net
assets January 1, 1888, were $8,387,360, as against $7,813,631
January 1, 1837. Attention is called to the new combination
policy of the Washington Life Insurance Company.
It
guarantees to the holder of a $1,000 policy $1,500 at maturity.
A policy for $5,000 is a contract for $7,500. A. policy for
$10,000 is a contract for $15 000. Say the amount of the
policy is $30,000, the insured i-i guaranteed at maturity o f
endowment $30,000 cash and a paid-up life policy for $15,000,
or a total of $45,000, together with all accumulated and unused
dividends. Full particulars concerning this will be given by
the company.
In our report of the dry goods trade will be found the im iports of dry goods for one week later.
The following is a statement o f the exports (exclusive of
specie) from the port o f New York to foreign ports for the
week ending February 21, 1888, and from January 1 to date:
—The New York Life Insurance Company publishes its
forty-third annual report in this issue of the Chronicle. The
business of the year was largely in exce-s of 1886, the num
ber of policies issued being 28,522, as against 22,027 issued in
1886, and insuring $106,749,295, as against $85,178,294 in the
previous year. All the figures presented in this report run
up into heavy amounts and indicate not only the popularity
o f life insurance but the high favor in which this company is
1888.
held. The net assets January 1, 1888, were $76,423,285, and
$5.472,428 the surplus by the New York standard of 4 per cent, $11,35,815,694 846,793.
EXPORTS FROM NEW YORK.
1886.
1885.
•For the week....
Frev. reported..
Total 7 weeks..
$5,417,915
41,954,100
j
$5,502,661
33,692,934
1887.
$4,294,047
32,378,932
$47,372,015 $39,195,5951 $36,672,979 $41,288,122
The following table shows the exports and imports of specie
n,t the port of New York for the week ending February 18, and
-.since January 1, 1888, and for the corresponding periods in
1887 nnd 1886.
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Gold.
«Great Britain.......
France___ . . . ____
«Germany............
■West Indies...........
M exico........ .........
«South America.. . .
-All other countries.
Total 1888.
Total 1887.
Total 1886.
Silver.
G reat Britain.............
Germ any....................
"West Indies...............
¡fioutli America...........
A ll other countries...
Total 1888...........
Total 1887...........
Total 1886... ..
Exports.
Imports.
ISince Jan. 1.
Week
$5,961
348*,245
Week,
$45,261
5,000
1,248
1,495,125
$30
146,000
173,700
400
73,019
12,138
1,000
12,990
$354,206 $1,631,791
1,293,601
128,645
6,409,946
2,788,604
Exports.
Week.
rSince Jan. 1,
$1,768
420,902
374,709
36,823
2,134
21,672
57,423
$334,140
$715,431
9,850
3,2:i 7,862
504,232
1,575,076
Imports.
Week.
Since Jan. 1.
$12
Since Jan. 1.
18,468
108,458
85,051
$12
4,439
8,947
58,284
2,258
7,361
159,438
$325,093 $1,804,909
1,325,551
301,741
2,331,184
324,969
$96,813
25,548
57,71‘
$240,739
237,417
134.993
$308,500 $1,556.930
67,600
15,000
1,900
51,553
925
668
l i ’,750
Of the above imports for the week in 1888, $96 were
American silver coin, Of the exports during the same time
2$10,600 were American gold coin.
United States Sub Treasury.—The following table shows
d;he receipts and payments at the Sub-Treasury in this city, as
well as the balances in the same, for each day of the past
week :
Date.
F eb.
“
«
“
“
“
18
20
21
22
23
24
T ota l...
Receipts.
Payments.
Coin.
Balances.
Coin Cert’s.
Currency.
$
1,305,566
1,379,255
2,735,326
$
$
$
$
975,424 130,043,112 14,673,405 11,939,671
1,297,431 129,823,708 15,015,034 11,899.269
975,815 129,975,933 16,262,929 12,258,659
1,402,843
1,335,902
1,585,463 129,798,808 16,271,319 12,244,775
1,014,431 129,632,045 16,661,058 12,343,270
8,158.892
5,848.564
—Attention is called to the advertisement notifying Wabash
1st and 2d bondholders that the engraved certificates for securi
ties deposited with the Central Trust Company are now ready,
and that the Stock Exchange has consented to place these
engraved certificates upon the regular list. It is further stated
that nearly $20,000,000 out of a total of about $28,000,000 h ive
assented to the plan.
—The security holders of the Chesapeake & Ohio R tilway
Co. not in accord with the syndicate plan of reorganization
have united to oppose the proposed plan. The names of the
committee are to be stated next week.
Auction Sales.—The following were sold this week at
auction by Messrs. Adrian H. Muller & S on :
Shares.
50 Nat. Bank of Commerce. 167*2
500 Farmers’ Loan & Trust
Co........ .............. 459ia® 467ia
50 Union Trust Co.......580®583ia
25 Central Park North &
East River RR. C o...... 83ia
50 New Haven Steam Heat
ing C o ....................... $42
20 Coney Isl’d & Br’kl’n RR. 76
100 Little Pitts. Con. Min. Co. $30
25 Mercan. Mutual Ins. Co.
($12-50 per share paid.)
............................. 80c. per sh.
60 Firemen’s Ins. Co........... 79ia
1 Clinton Hall Assoc’n ___ 52
1 Free Membership N. Y.
Society Library.......... $115
37ia Memp. & Little Rock
R’w ayC o....................... $1
58 Phenix Fire Ins. Co.......102%
681 People’s Gas Light Co. of
Brooklyn........................ 62*4
100 Equitable Fire Ins. C o... 146!2
20 Brooklyn Academy of
Music iwith 2 tickets).. 114ia
2 So. Br’klyn Saw Mill Co. 123
29 Christoph. & 10th St. RR. 130%
500 Terre Haute & Ind. RR.. 87*2
200 MineralRangeR’wayCo. 26
40 Central Safe Deposit Co. 20
205JeromeP’kYillaS.&Imp. 95
294 Oswego & Syracuse RR.
Co. (guar. 9 per cent.).. 170ia
50 Iron Cliffs Co.. .$58-50 per sh.
40 Oriental Bank................ 195%
40 Fifth Avenue Trans. Co. 73
50 Iron Cliffs Co.........$57 per sh.
WM. EDWARD COFFIN.
Shares.
11 Continental Ins. Co. . . . . 185
61 Firemen’s Ins. Co........... 80
4 Knickerbocker Fire Ins.. 70*3
6 Merchants’ Ins. C o ....... 74
8 N. Y. Fire Ins. C o ......... 70
1,100 Cinn. Ham. & Day. RR. 70
10,000 Horn Silver Min. Co.,
of Utah............ $1-15 per sh.
Bonds.
$350 Indianap. & Spr. R’way
Co., Trustees’ Cert.............. $18
$1,280 Atlantic Mutual Ins.
Co. Scrip of 1884 .............. 102
$2,270 Atlantic Mutual Ins.
Co.
Scrip
of 1886
...........v/.jV h102%
■tin
e a a Memp.
____ &
c>_ rLittle
!*-*■! "D/
$3,500
R ock)
R’ way Co., Inc. M ............... I q>i«»
$115-63 Memp. & Little Rock (
R’way Co., Inc., Scrip........ J
$2,750 Memp. & Little R ock)
R’wayCo., 2dM .. .......... i « 1 «
$121-87 Memp. & Little Rock
R’way Co., 2d M., Scrip ... J
$5,000 Third Ave. RR. Co.,
6s, 1890........................102 & int.
$5,000 42d St. Manhat. & St.
Nicholas Ave. RR. Co., 1st,
6s, 1910 ................... 107*8& int.
$5,000 Br’dway & 7th Ave.
RR. Co., 5s, 1 9 1 4 ...... 104 & ink
$5,000 Dry Dock E. Br’dway
& Batt. RR. 6s, Scrip.. .106 & int.
$5,000 N. Y. & Sou. Br’klyn
Ferry Co., 5s, g., 1906. 102 *3& int.
$3,000 Citizens’ Gas Light Co.
of Westchester Co., 1st, 6s,
1906........................... 102 % «feint.
WALTER STANTON.
Orange Belt.—The road has been completed from Macon
C O F F I N
&
S T A N T O N ,
to Tarpon Springs, on the Gulf o f Mexico, and there is nearly
liO miles in operation. The entire line from Monroe, the
BANKERS,
xiortle••stern terminus of the road, about three miles north of
Sanford to Petersburg, thirty-two miles from Tarpon Springs,
11 W A D E S T R E E T , N E W Y O R K .
«on Tampa Bay, is expected to be completed in three months.
NEGOTIATE
Tennessee Coal Iron & R ailroad.—The estimated r< suits
for the year ending January 31,1888, are : Total earnings for State, M u n ic ip a l,’3 R a ilro a d , W a te r a n d Gas B on d s*
^fiscal year, $627,500 ; earnings on investments, $138,400 ; gross
MONEY ADVANCED ON MARKETABLE SECURITIES.
total, $765,900 ; less interest payments, $278,200 ; sinking fund
payments, $86,000; net surplus earnings over fixed charges
WE OFFER FOR SALE A LIMITED AMOUNT
for fiscal year ending Jan. 81, 1888, $401,700. The increase in
net earnings over 1886-7 was $338,673, with no new furnaces.
----- OF----W estern New York & Pennsylvania.—The Bank of New
"York is now prepared to receive the Buff. N. Y. & Phila. RR.
K AN SAS C IT Y , KANSAS,
Reorganization Committee’s certificates issued by the above
bank. This is preparatory to the issue o f the new Western S E V E N P E R C E N T I M P R O V E M E N T B O N D S »
New York & Pennsylvania Railroad’s securities under the plan
for the reorganization of the Buffalo New York & Philadel
B ric e , 1 0 4 a n d A ccru ed In terest.
phia Company. The listing of the new securities on the New
"York Stock Exchange is expected to be ordered shortly after
the exchange is accomplished. A member of the Executive
G R I S W O L D
& G I L L E T T ,
Board says that the application is ready for presentation to
3 W A lil* S T R E E T , N . Y . ‘
4 he Governors.
246
THE CHRONICLE.
(Sa^ette*
% \ iz
D IV ID E N D S t
The following dividends have recently been announced :
Per
When
Cent. Payable.
Name o f Company.
R a ilro a d .
Boston & Albany............................
2
Books Closed,
(Day8 inclusive.)
Moll. 31 Feb. 30 t o ----------
W A L L STREET. F R ID A Y , Feb. 24, 1 8 8 8 -5 P. M.
The Money Market and Financial Situation.—The
wholesome effect of the cessation of the Reading strike was
fully discounted in the market the day it was first known and
prices have not ruled materially higher since. This is another
illustration of the sluggish character of stock dealings at the
present time, as an event so important as the termination of
that strike might in ordinary periods have been made the
basis for a five to ten per cent advance.
Notwithstanding the general talk about a sluggish and
uncertain market, it is to be observed that the latter feature
of uncertainty is by no means extraordinary at this time of
year.
On the contrary, it is rather the rule than the
exception while Congressional action remains undeter
mined, and before the tendency of railroad earnings and
general business has been developed with the opening of
Bpring. This year, unfortunately, we have the long session of
Congress, and also a question of supreme importance pending
before that body, on the settlement of which the money mar
ket will greatly depend. Luckily for business, it is the interest
o f all parties in Congress to “ make things easy,” and hence
we have little to fear; but the precise measures to be adopted
are matters of no little moment, and until they are settled
there is likely to be a tone of more or less hesitancy in the
markets. Should a law be passed directing the purchase of
Government bonds to a very large amount at the market price,
it is obvious that such heavy disbursements would be likely to
cause a temporary superabundance of money, and consequently
an active demand for securities.
If the foregoing remarks are approximately correct in show
ing briefly the present status of affairs, it is evident that there
are such good reasons for present inactivity that it is to be
regarded as no particularly unfavorable sign.
The open market rates i(fr call loans during the week on
Stock and bond collaterals have ranged from 2 to 2$ per cent
and to-day the rates were 2@ 2$ per cent. Prime commercial
paper is quoted at 4$ @ 5 per cent.
The Bank of England weekly statement on Thursday showed
a gain in specie of £250,000, and the percentage of reserve to
liabilities was 46-78, against 46-35 iast week; the discount
rate remains unchanged at 2$ per cent. The Bank of France
gained 5,025,000 francs in gold and 3,475,000 francs in silver.
The New York Clearing House banks in their statement of
February 18 showed a decrease in surplus reserve of $2,205,900, the total surplus being $17,937,375, against $20,143,275
the previous week. .
The following table shows the changes from the previous
week and a comparison with the two preceding years in the
averages of the New York Clearing House banks:
1888.
Feb. 18.
Diffir’ nc’s f r ’m
Prev. Week.
1887.
Feb. 19.
1886.
Feb. 20.
$
$
$
$
Loans and dlso’ts. 366,249.400 Dec.
28,000 367,350,000 348,163,800
Specie.................... 79,843,400 Dec. 3,132,600 91,647,200 97.006.700
Circulation...........
7,661,200 I n c .
67,800
7,646,600
8,485,700
Net d e p o s its ...... 382,908,900 Dec.3,098,000 391,778,800 395,094,100
Legal tenders....... 33,821,200 Inc. 152,200 21.776.700 33.467.700
Legal reserve....... 95,727,225 Dec. 774,500 97.944.700 98,773,525
Reserve held........ 113,664,600 Dec.2,980,400 113,423,900 130,474,400
Surplus..................
17,937,375 Dee.2,205,900, 15,479,200 31,700,875
Exchange.—Sterling exchange continues very strong in
tone, though dull. The demand has been limited all the
week, and the strength of the market is due to the scarcity
of commercial bills, in which there has been no increase.
Posted rates were advanced $c. to 4 85$ and 4 87$, though in
the case of long sterling this rate has been asked by some
drawers all the week. To-day a further advance of $c. was
made by some drawers.
To-day the rates on actual business were as follows, v iz .:
Bankers’ 60 days’ sterling, 4 85@4 85$; demand, 4 87@4 87$
[VOL XLVI.
Cables, 4 87$@4 87$. Commercial bills were 4 84$@4 84$;
Continental bills were: Francs, 5 21$@5 21$ and 5 19$; reichmarks, 95$ and 95 5-16@95$; guilders, 40$@40$ and 40$@40$.
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buying $
premium; selling $ premium; Charleston, buying 1-16 premium;
selling 3-16@ $ premium; New Orleans, commercial, 50@75c
premium; bank, par; St. Louis, 75c. premium; Chicago, par.
The rates of leading bankers are as follow s:
February 24.
Sixty Days.
Prime bankers’ sterling bills on London..
Prime commercial.......................................
Documentary commercial.......... ...............
Paris (francs)...............................................
Amsterdam (guilders)................................
Frankfort or Bremen (reiohmarks)_____
4
4
4
5
85%@4
84 @4
83% 34
2058 3-5
4031(*@
OS3« ®
Demand.
86
4 87%@4 8S
8414
84
5 193g@5 13%
20
40% 40^8 i401id
95%
95%@955s
Coins.—The following are quotations in gold for various corns r
Sovereigns.............$4 84
Napoleons............. 3 84
X XReichm arks.. 4 74
X Guilders............ 3 96
Span’ll Doubloons.15 60
Mex. Doubloons..15 55
Fine gold b a rs.... par
@$4 87
@ 3 88
@ 4 80
@ 4 QO
@15 75
@15 70
@%prem.
Fine silver bars.. — 95 %@
96%
Five francs.......... — 93 @ — 95
Mexican dollars.. — 74%@ — 75%
Do uncommerc’l — 74 @ ------Peruvian sols.......— 73%@ — 74%
English silver.... 4 78 @ 4 85
TJ. S. trade dollars — 74 @
......
United States Bonds.—The market for Government bonds
has been extremely dull all the week, and devoid of any
feature. Prices have ruled firm and are a trifle higher than a
week ago, the changes, however, being unimportant.
The closing prices at the N. Y. Board have been as follows:
Interest Feb.
Periods 18.
4%s, 1891___ ...reg.
4iflS, 1 8 9 1.... ..coup.
4s, 1907........ ....reg.
4s, 1907.........
6s, cur’oy,’95 ...reg.
6s, cur’cy, ’96. ...re g .
6s, cur’cy, ’97 ...reg.
6s, cur’cy, ’98 ...reg .
6s, cur’ cy ,’ 99 ...reg.
Feb.
20.
Feb.
21.
Q,.-Mar. *106% *10658 *10658
Q.-Mar. *10738 *10758 108
C$.-Jan. 12558 *125% 12578
Q.-Jan. *125 78 *125% ’ 12578
J. & J. *120 *120 *120
J. & J. *122 *122 *122
J. & J. *124 *124 *124
J. & J. *126 *127 *127
J. & J. 1*128 *130 *130
Feb.
22.
k
03
O
M
J
1
Feb.
23.
Feb.
24.
*106%
*107%
*125%
*125%
*120
*122
"124
*126
*129
*108%
*107%
125%
*125%
*120
*122
*124
*126
*129
* This is the price bid at the morning board ; no sale was made.
State and Railroad Bonds.—State bonds continue dull, the
business having been extremely limited all the week. There
has been no feature to the market.
The railroad bond market continues pretty firm, and it is
noticeable that the recent advance in prices is, in most cases,
fairly maintained. Business, however, during the past week
has not been active; the demand is fair and transactions are not.
so largely confined to the lower-priced classes as they usually
are in a more speculative period. The changes for the week,
so far as there were any, have generally been in the direction
of higher values. The Chesapeake & Ohio bonds have recov
ered but little from their previous depression. Rock Island
fives declined to-day, because bids for the $5,000,000 new
bonds were rejected yesterday as too low. It is reported that
an attempt will be made to reduce the rate of interest on some
of the M. K. & T. bonds.
R ailroad and Miscellaneous Stocks.—The business of the
week was interrupted by the observance of a close holiday on
Wednesday (Washington’s Birthday) and on the remaining
days transactions have been very limited. There is no apparent
change in the situation or the outlook for the market, and the
same stagnant condition yet exists. Speculation is restricted
to very narrow limits and neither side seems disposed to make
any special effort to force the market up or down.
The effect on the market of the settlement of the Reading
strike was virtually spent last Friday, and during the past
week it has had no great influence in lifting prices. The war
of rates among the Western roads still continues, and the
meeting of managers, held this week, adjourned without
coming to any agreement for a restoration of rates. The
situation, therefore, remains practically unchanged, and prices
are nearly so, except in a few exceptional cases.
The only important movement of the week was that in the
Richmond Terminal stocks, which attracted considerable atten
tion. Reports have been circulated of an improved financial
condition of the roads and attention drawn to their increased,
earnings, but the impression has been quite general that,
insiders were buying the stocks, and that this was the main
cause of the advance. The preferred, especially, was very
strong, and reached .69$ on Thursday morning, from which
point there has been some reaction. Other Southern stocks
were stimulated slightly by this advance, and Memphis &
Charleston, which has been almost entirely neglected for a long
time past, came into some prominence on Thursday and
advanced from 53 to 57. East Tennessee 1st preferred alsosold several points higher. St. Paul has shown some strength
and activity, which are attributed to the manipulations of a
pool in that stock. Outside of these there have been no
features, and all the leading stocks have moved within narrow
•limits.
247
TH E CHRONICLE.
F e b r u a r y 25, 1888.]
STOCKS—PRICES AT N T. STOCK EXCHANGE FOR WEEK ENDING F E B . 2 4 , AND SINCE JAN. 1, 1888.
HIGHEST AND LOWEST PRICES.
STOCKS.
Saturday,
Feb. 18.
Monday,
Feb. 20.
Tuesday.
Feb. 21.
Feb. 22.
A c t iv e B R . S t o c k s .
9%
10
*9% 10
9%
10
Atlantic & Pacific....................
58% 58
58
58% 58% *57
Canadian Pacific...................
53%
54
53%
53%
53%
53%
Canada Southern.....................
80% 80% 80% 79% 80%
Central of New Jersey............ 80
31% 30% 30% *30% 31
Central Pacific.......................... 31
3
3% *3
3%
3%
3%
Chesapeake & Ohio..................
6
6
5%
6%
6
6%
Do
* ls tp re f.
3%
3%
*4
*4%
5
5
Do
2d pref..
Chicago Burlington & Quincy. 128% 128% 128% 128% xl2 6 % !2 6 %
76% 77
Chicago Milwaukee & St. Paul. 76% 77% 76% 77
115% 115% 115% 115%
Do
pref. '115% 116
108%
108%
107%
L08%
108%
109
Chicago & Northwestern........
Do
pref. '143% 144% 143% 143% 144 144
112%
112%
113
L13
112%
112%
Chicago Rock Island & Pacific.
*12% 14
*12% 13%
Chicago St. Louis & Pittsburg.
*34% 36% *35% 37
Do
pref.
38% 38% 37% 38%
38% 39
Chicago St. Paul Min. & O m ...
Do
pref. 107% 107% 107% IO734 *107% 108%
53% 53% *52% 53%
53
Cleveland Col. Cin. & Indianap. 53
24
21
21%
24% *22
Columbus Hocking Yal. &Tol. *22
130% 130%
Delaware Lackawanna & West 131 131% 130% 131
22
*21
22
22% *21
Denver&Rio G., assessm’tpd. *21
53
52% 52%
53
Do
pref. *52% 54
10% *10
10%
East Tennessee Ya. & Ga. R’y. 10% 10% *10
61% 61
61%
61% *60
Do
1st pref. *60
21% 21% *21% 22%
23
Do
2d pref.. *22
*86
88
88%
*86
88
Evansville & Terre Haute....... *86
42% 43
42
43
43% 43%
Port Worth & Denver City—
9%
*8% 9% *9
Green Bay Winona & St. Paul.
Illinois Central......................... 117 ÌÌ7 % *116% 117% 117 117
12%
12%
12%
*11
12
12
Ind. Bloom. & West.................
32% *31
32%
*31
31
31
Kingston & Pembroke.............
*15% 16
*15% 16
16
16
Lake Erie & Western...............
46
46
*45% 46
Do
pref. *45% 46
Lake Shore & Mich. Southern. 92% 92% 91% 92% 91% 91%
*90
92
91
91
Long Island............................. *90% 92
593s
Louisville & Nashville............ 59% 60% 59% 60% 59
40
*35
40
*35
40
Louis. New Alb. & Chicago... *35
90%
89
89
89%
Manhattan Elevated, consol.. 90% 90%
Memphis & Charleston............
82%
*8138
80%
81%
82% 82%
Michigan Central.....................
75
Mil. Lake Shore & West.......... *65
99
99
Do
pref. *97 100
6% 6%
7
*6
*6% 7
Minneapolis & St. Louis..........
15
*13% 15
15 *
Do
pref. *12
16% 16% 16% 16% 16% 16%
Missouri Kansas & Texas.......
85% 85% 84% 85% 8438 85
Missouri Pacific.......................
12% *11% 12% *11% 12%
Mobile & Ohio.......................... *11
79
78
*78
78
Nashv.Chattanooga & St.Louis *78% 79
New York Central & Hudson. 107% 107% 107% 107% 107% 107%
16% 16% *15% 16% *15% 16%
New York Chic. & St. Louis...
69
68
*68
68
69
Do
1st pref. *68
*32% 34
*32
33%
34
Do
2d pref.. *33
27%
26%
27%
27%
26%
26%
New York Lake Erie & West’n
62
*60
62
*60
62
Do
pref. 62
37
3738
37% 38
New York & New England___ 37% 38
17% 16% 17
New York Ontario & West___ 17% 17% *17
*9
*8% 9%
9%
-9 %
9%
New York Susq. & Western...
Do
pref. 32% 32% *31% 32% *31% 32%
18
*16
18
18
*16
Norfolk & Western.................. *16
45% 44% 45% 44% 45
Do
pref. 45
Northern Pacific....................... *21% 22% 21% 21% 21% 21%
44% 44%
Do
pref. 45% 45% 44% 45
24% 24%
24%
Ohio & Mississippi.................. *24
Oregon & Trans-Continental.. 21% 21% 21% 21% 21% 21%
Peoria Decatur & Evansville. 18% 18% *18% 19% *18% 19%
66 34 67% 66% 66% 65% 66%
Philadelphia & Reading.
Richmond & West P’t Terminal 22% 22% 22% 2234 22% 23%
63% 63% 63% 67%
63% 64
Do
pref.
84% 84%
86
Rome Watertown & Ogdensb’g *83
34
34
*33% 34%
34%
34%
St. Louis & San Francisco......
72
72
71% 71%
71% 72
Do
pref.
111%
111%
112%
112%
112%
112%
Do
1st pref.
55% 55% 56% 56% *55% 57
St. Paul & Duluth............
104
103%
103%
104
*104
105
Do
pref.
109% 109%
109 110
St. PaulMinneap. & Manitoba. 111 111
25%
25%
25%
25%
25% 26
Texas & Pacific.......................
57
57% 56% 57% 56
56%
Union Pacific..........................
14%
14%
14%
*14%
*14
15
Wabash St. L. & Pacific..........
*26% 27% 26% 26% 26% 26%
Do
pref
54
54
53% 53%
54
54
Wheeling & Lake Erie...........
M is c e lla n e o u s S t o c k s .
38%
38% 38
Colorado Coal & Iron............. .
38*2 3878 38
76
*76
76*n' 76% 76% 76
Consolidated Gas Co.............
109% 110
Delaware & Hudson Canal... 110 110 % ' 109% HO
52% 52%j 52% 52% 52
52%
Oregon Improvement Co.......
94
93% 93 %! 93% 93% 94
Oregon Railway & Nav. Co..
37
36% 36%
Pacific Mail.............................
36% 36% *36
. . . . 106% *........ 106% 102% 103%
Philadelphia Co., Nat. Gas...
141% 141%, 141% 141%
Pullman Palace Car Co.......... 142 142
Western Union Telegraph___ 78% 78%' 78% 78% 78% 78%
E x p ress S tock s.
143 143 4 4 0 145
140 145
Adams............................... .
American.................................. 108% 108% 107% 107%' 108 108%
72% 73
73%
73% 73
United States..................... .. . . ! 72
131 131
131 131
129 131
Wells, Fargo & Co
In a ctiv e Stocks.
73% 73% 73% 73% 73%
American Tel. & Cable Co....... *72
99% 99% 99% 99%
Atchison Top. & Santa Fe....... *98% 99
4 3 6 140
136
Chicago & Alton....................... '138
Chicago & East. Illinois.......... *41% 42% 41% 41% 41% 41%
90% 90% 90%
93% x90
Do
pref. *93
41% 41%
Chicago & Ind. Coal Railway. *41% 42% *41% 42
*89% 92
93
*89% 92
Do
pref. *91
79
*78% 79% 79
Cincin. Ind. St. Louis & Chic..
*3% 4
3%
3%
Cincinnati Wash. & Baltimore.
*5% 6% *5% 6
Do
pref.
*86
88
87
87
88
Marquette Hough. & On., pref. *86
M om s & Essex......................... 138% 139%
152% 152%
153 . . . .
Pitts. Ft. Wayne & Chic__ ... *153
*11
12
*11
12
11
Quicksilver Mining Co............ 11
36
36% *35 - 36
36
Do
pref. 36
*165
168
462
168
*163
170
Renssalear & Saratoga............
*36
39
*36
39
39
St. Louis Alt. & Terre Haute.. *36
9
*838 9%
8% 8% *8
South Carolina.........................
96% 96%
Whitebreast Fuel Co...............
26%
26%
Columbus & Hocking Coal___ 26% 26% 26% 26%
32
31
31% 31% 31%
Tennessee Coal & Iron............ 32
V a rio u s Stock s. A c . (Uni is ted.
30% 30%
31
31% 30% 31
Amer. Cotton Oil Trust
88
88% 87% 89%
88% 90
Pipe Line Certificates..
* These are the prices bid and asked ; no sale was made at the Board.
Thursday,
Feb. 23.
Friday,
Feb. 24.
Sales
o f the
Week,
Range Since Jan. 1,1888.
Highest.
Lowest.
125 9% Feb.
*10
10%
10% Jan.
600 55% Feb.
57
57
62% Jan.
2,775 52 Feb.
56% Jan.
53% 53%
80% 81% 16,535 75 Jan.
81% Feb.
900 29% Feb.
30% 30%
33% Jan.
805
2% Feb.
3
3
5% Feb.
884 5% Féb.
5% 5%
10 Jan.
519 3% Feb.
4
4
7% Feb.
868 125% Feb.
130% Jan.
127% 127%
93,810 74 Jan.
78 Feb.
77% 78
485 112% Jan.
115% 115%
116 Feb.
110% Jan.
108% 108% 20,355 106% Jan.
42 140% Jan.
*143% 144%
145% Feb.
830 111% Feb.
114% Jan.
113 113
*12% 14
14% Jan.
13 Jan.
*40
42
35 Feb.
38% Jan.
1,510 36% Feb.
40% Jan.
38% 38%
105 105% Feb.
109 Jan.
550 51% Feb.
52% 51% 51%
*50
53% Feb.
300 21 Feb.
24
22
22
25% Jan.
*21
133% Jan.
130% 130% 130% 131% 44,550 128% Jan.
23 Jan.
21 Feb.
*21
21%
568 51% Feb.
55 Jan.
52% 52% 52% 52%
750 10 Jan.
10% Jan.
10% 10% 10% 10%
870 59% Jan.
65 Feb.
*62% 64%
65
64
1,010 20% Feb.
23% Feb.
22% 23% 23
23%
87 Jan.
88% Jan.
*87% 88
*87% 88
1,250 40% Jan.
46% Jan.
43
43
43
43
200
9% Jan.
8% Jan.
*9
9%
9% 9%
543 116 Feb.
122% Feb.
116 117
116 L16
800 12 Feb.
14 Jan.
*12
13
12% 13
200 27% Jan.
31 Feb.
*30
31
31
31
325 14% Jan.
16 Jan.
15% 15% *15% 16
775
47 Jan.
44
Jan.
46% 46
46
46
95% Jan.
91% 92% 49,220 90% Feb.
91% 92
140 89 Jan.
91% Feb.
92
*90
92 |
*90
64% Jan.
59% 59% 59% 59% 11,450 *8 % Feb.
39 Jan.
39 Jan.
40
*35
4,630 85% Jan.
96 Jan.
88% 90% 90% 93%
2,907 52 Jan.
57 Feb.
57
53
322 80% Feb.
87% Jan.
82
82
100 65 Feb.
80 Jan.
70
*65
75
70
200 97 Feb.
104% Jan.
*98 100
*98% 100
100
9% Jan.
5% Jan.
*6
7
*6% 7
100 14 Feb.
17% Jan.
14 *........ 14%
14
480 16 Feb.
18% Jan.
16% 16% 16% 16%
89% Jan.
84% 85% 85% 86% 12,410 82% Jan.
13% Jan.
18
9% Jan.
11
*11% 12%
11
200
80 Jan.
76
Jan.
79
78% 78%
*78
1,794 106% Feb.
108 Jan.
107% 107% 107% 107%
100 15% Feb.
17% Jan.
*15% 16%
40 66% Jan.
73 Jan.
69
*68
69
*68
37 Jan.
31%
Jan.
33%
*32
29% Jan.
26% 27% 26% 27% 18,960 26% Feb.
350
65% Jan.
61
Jan.
61
61
8,650 36 Jan.
39% Jan.
37% 37% 37% 38
18% Jan.
566
16% Jan.
17
*16% 17
17
70
9% Jan.
8% Feb.
8% *8% 9%
8%
33% Jan.
410
29% Jan.
*31% 32% 32% 32%
18% Feb.
15% Jan.
*16% 17%
*16
18
47 Jan.
6,055 42% Jan.
46
45
45% 45%
23 Jan.
328 20% Feb.
47% Jan.
5,687 43% Feb.
44% 45% 45
45%
200 23 Jan.
25 Jan.
*23% 24% *23% 23%
22% Jan.
1,745 20% Feb.
21% 21% 21% 21%
490 18% Feb.
23 Jan.
19
19
19
19
L36,670 63% Jan.
67% Feb.
66% 66% 66% 67
24% Feb.
23% 24% 23% 24% 79,310 21% Jan.
69% Feb.
11,170 55 Jan.
67% 69% 66% 68
88 Jan.
408 82% Feb.
85
85
85
*83
150 34 Feb.
36% Jan.
*33% 34% *33% 34%
73% Jan.
1.394
70%
Feb.
72%
71% 72% 72
116 Jan.
275 111% Feb.
*111 112% *111% 112%
62% Jan.
350
55%
Feb.
57
56% 56% *56
105 Jan.
445 100% Jan.
103% 103%
104 104
114%
Jan.
500
109 Jan.
109 109
27% Jan.
25% 25% 25% 26% 3,525 24% Jan.
8
58%
Jan.
36,925
54% Feb.
56% 56% 56% 57
50 13% Feb. 14 16 Jan.
14%' *14
14%
*14
28% Jan.
300 25% Jan.
*26% 27
*26
26%
55 Feb.
550 44% Jan.
53% 53% 53% 53%
IO
3
9
24
IO
4
24
7
27
24
17
30
1
27
10
6
10
27
IO
9
30
6
28
12
2a
24
10
3
27
3
20
34% Jan.
74% Feb.
103 Jan.
45% Jan.
89% Jan.
34% Jan.
99 Jan.
140 Jan.
76% Jan.
38% Feb.
78 Jan.
112 Jan.
55 Jan.
94% Feb.
37% Jan.
106% Feb.
144% Jan.
79% Feb.
17
18
30
18
3
16
15
30
24
16143 Jan. 9
364 106% Jan. 3
283 67 Jan. 4
35 128 Jan. 19
145 Jan.
108% Jan.
74 Jan.
132 Feb.
23
2Ö
20
24
75 Feb.
99% Feb.
140% Feb.
43% Jan.
94% Jan.
41% Feb.
94 Jan.
80 Feb.
4% Jan.
6% Feb.
91 Feb.
139% Jan.
153 Jan.
13% Jan.
38% Jan.
166 Feb.
39 Jan.
9% Jan.
97 Feb.
30 Jan.
32% Jan.
10
20
10
30
26
21
9
2
9
24
7
27
17
12
10
6
11
27
23
9
30
*10
57%
53%
80%
*30%
3
5%
4
126
77
115%
108%
144
113
*12%
*35
38%
10%
57%
53%
81%
31
3
6
4
126
77%
115%
109%
144
113%
14
37
38%
38% 38% 38% 38% 2.395
240
*75% 76%
*75% 76
2,180
109% 109% 109% 109%
650
52
52
400
93% 93%
36% 36% 36% 36% 1,605
1,030
104 104%' 105 105
613
141% 141%
141% 142
30,360
78% 79%’
78% 79
*140
107%
72%
*128
143
145
107% *107
73% 73%
132
129
99% 99%
140 140
41
41
*90
90%
40% 40%
*89%
79
T9
*3% 3%
*5% 6%
*86
88
143
110 !
73%
132
73% 73%
*136 140
*40% 41%
*90
90%'
*40
42
*8 9 % ........
7878% '
3% 3%
5%
6%
*86
88
155
11
35%
168
36%
9
97
27
31%
*153% ........
*10% 12
35% 35%
*164 168
*36
38
*8% 9%
30
30
87% 89 3f
30% 30%
88% 91%
*153%
11
35%
*164
36%
*8
97
*26
31
26% 26%
3130 313$
70 Jan.
93% Jan.
135 Jan.
41 Feb.
5 90% Feb.
300 40% Feb.
91% Jan.
218 75% Jan.
200 3% Feb.
5% Feb.
2,400
100 83% Jan.
51 135 Jan.
5 151 Jan.
300 10 Jan.
1,600 33% Jan.
163% Jan.
100 36 Jan.
100 7% Jan.
300 88% Jan.
800 25% Feb.
1,400 27% Jan.
156
130
25
400
3,240 29% Jan.
ia
30
9
9
11
9
10
10
239
10
5
11
O
5
3
2T
9
O
27
27
30
9
10
IO
9
7
30
a
30
10
10
31
13
11
18
23:
23
31
5
30
16
3
28
23
30
3
3
6
13
4 34% Jan. 17
'218
THE
CHRONICLE.
[V ol . XLVI.
BONDS—LATEST PRICES OF ACTIYE BONDS AT N. I . STOCK EXCHANGE, AND RANOE SINCE JAN. 1, 1888.
Closing.
Railroad Bonds.
AtL & Pae.—W. D. inc., 6s, 1910
Guar., 4s, 1 9 3 7 ...._____ ___
Can. South.—1st guar., 5s, 1908
2 d ,5s, 1913___ 1.......................
"•Centralof N. J.—1st, 7s, 1890..
Convert. 7s, 1902................--General inert., fs, 1987.........
Len. & W.B.,con.7s, 1909,as’nt
CentralPacific—gold 6s, 1898..
San Joaquin Br. 6s. 1900........
Land grant 6s. 1890............. .
«Cfies. & O.—Pur. m. fund 6s, ’98
6s, currency, 1918.........- .......
Mort. 6e, 1911...........................
Chen. O. & Bo. W.—5-6s, 19 1 1...
Chlc.Bur. & Nor.—lBt, 5s, 1926.
Chic. Burl. & Q.—Con. 7s, 1903.
Debenture 5s, 19 1 3 ................
Denver Divisi, 4s, 1922...........
«Chic. & East. 111.-Con. 6s, 1934
Chic. & Ind. Coal R., 1st, 5s, ’36
Ch.Mil.A St.P—1st, I.& M .7 b , ’97
Consol. 7 b, 1905.......................
1st. So. Min. Div.—6s, 1910—
1st! Chi. & Pac.W.Div—5s, ’21
Wis. & Min. Div.—5s, 1921 —
«Chic. & N. W.'—Consol. 7s, 1915
Gold, 7s, 1902..........................
Sinking fund 6s, 1929...........Sinking fund 5s, 1929.............
Sinking fund debent. 5s, 1933
25-year debent. 5s, 1909. v ...
Extension 4s, 1926.......... 7.__
Chi. R. I. &Pac.—6 b, coup. 1917.
-Gh. 8t.P..M.& O.—Consol. 6s. ’30
•Oh.8t.L.& Pitts.—lst.con. 5s,’32
c . C. C. & Ind.—Consol. 7s, 1914
'Col. Coal & Iron—1st, ‘6s, 1900..
Col. H. Yal. & Tol.—Con. 5b, ’31
Gen. gold, 6 b, 1904..................
'Denver & Rio Gr.—1st, 7b, 1900
1st oon. 4s, 1936 . . . ..... ..........
D »n
R
tv.—1st, 6 h, 1911
D en. So. Pk. & Pac.—1st, 7 b, ’05
D et.M ac.A M.—Ld.gr.3%8,1911
¡Eliz. Lex. & B. Sandy—6s, 1902.
"•Erie- 1st. consol, gold, 7s, 1920
Long Dock, 7s, 1893 ...................
N.Y.L.E.&W— 2d con. 6s, 1969
¿Ft. W. &Denv. C. -1st, 6s, 1921
*Gal.Har.& San. Ant.—1st, 6s,’ 10
2d M., 7s, 1 9 0 5 ............................
West. Division—1st, 5s, 1931.
2d, 6s, 1931 .....................
«Gr’ n B.W.’&St.P.— 2dinc.8s, i 9 l i
»Gulf Col.&San.Fe—1st,7s, 1909
Gold, 6 b, 1923 ..................................
¿Henderson Br.Co.— 1st. 6 b, 1931
■H. & Tex. C.— 1st M. L. 7s ...........
1st, West. D., 78,1891 ..................
26%
81%
105%b.
93%
105%b116 b121 b.
100 b.
101%
114%
104 b.
11438
115%b.
103
lC3%b.
107 b.
66%b.
Range since Jan. 1.
Lowest.
Highest.
26 b.
81%
106%b.
93%
106
117%
121
98 b.
101%
112 b.
104
114 b.
115%b.
103 b.
26 Jan.
80 Jan.
105% Jan.
92 % Jan.
104% Feb.
111% Jan.
115 Jan.
102 Ftb.
98 Jan.
113% Jan.
106
105% Feb.
65% Feb.
65% Feb.
18 Feb.
90% Jan.
104 Feb.
1013s Feb.
129% Jan.
104% Jan.
91% Feb
113 Jan.
97 Jan.
114% Jan.
123% Jan.
111% Jan
101% Jan.
100 Jan.
100 Jan.
139% Jan.
128% Jan.
121 Feb.
108 Jan.
108 Feb.
10478 Jan.
92% Feb.
131% Jan.
104 % Feb.
119% Jan.
99% Jan.
123 Jan.
107% Jan.
100 Jan.
70% Jan.
70 Jan.
119% Jan.
76% Jan.
27% Jan.
83 Feb.
107 Jan.
94% Jan.
108% Jan.
117% Feb.
121 Feb.
J02 Feb.
101% Feb.
114% Feb.
105 Feb.
114% Feb.
115% Feb.
103% Jan.
104% Feb.
114% Feb.
70% Feb.
70% Feb.
28 Feb.101% Feb.
108% Jan.
103 Jan.
132 Jan.
106 Jan.
95 Jan.
117% Feb.
100% Feb.
118 Feb.
126 Jan.
114 Feb.
105 Feb.
101% Feb.
101% Feb.
143 Jan.
132 Feb.
121 Feb.
110% Feb.
109% Feb.
105% Jan.
95 Jan.
133% Feb.
Feb. 24 Feb. 17
20%
19
99 b.
100%
103 b. 104
10138
13l%l>. 131%
106 b. 105 b.
92 %a.
91%
117 b. 117%
90 a.
118 b. 117%
125%b. 125
11214b. 112%
104%b. 104%
101 b. 101%b.
101 b. 102 a.
142% 140 b.
130 b. 131%
120%a. 121 %a.
110% 110
108 b. 109 a.
l04%b. 104%b.
92%a. 91%b.
133%b. 133%
104% 107
121 b. 120 b.
100 a. 100%a.
I28%b. 128 b.
I08%a.
109
1013sb. 101 %
72
73
707ea. 72 a.
120
120 b.
78
78
72 b. 11 b.
64 %b.
66%
80 a. 80 a.
39 %a. 40
99
99%
102 b. 102 %a.
137%b. 137
113%b. 113 b.
117 b. 116%b.
98
98
80%
8178
102%b. 105 a.
98 b. 103 a.
92 a. 92 a.
113% Jan.
114% Jan.
102 Jan.
65% Feb.
78% Jan.
34% Jan.
97 Jar.
135% Jan.
I l l Jan.
116% Jan.
97% Jan.
79 Jan.
105% Jan.
Jan.
92% Jan.
30 Jan.
119 Jan.
96% Jan
108% Jan.
113 Feb.
112 Feb.
112% Jan.
102 Feb.
69 a. 70 a. 65 Jan.
32% Jan.
122 Jan.
97 78 Feb.
110 Jan.
115% Jan.
114% Jan.
114 Feb.
108% Jan,
69 Feb.
30 i».
121 b.
97%
110%b.
113 b.
114 a.
Gen. mort. 6s, 1921, tr. re c ...
JSnd.Bl. &W.— 1st,pref.,7 b, 1900
1st,5-6s, 1909, tr. r e c ... ........... 70 b.
2d, 5-6s, 1909, tr. rec .................
70 b.
17
Int. & Gt.Nor.—1st, 6 b, gold,’ 19 105
Coupon, 6b, 1909 ........................... 71 %b.
Centr.—Gold 4 b, 1987 ___ 71
Knoxv. & O .— 1st, 6s, gold, 1925 92 b.
91
121 "Feb.
100% Jan.
129 Feb.
109 Feb.
104 Jan.
73% Jan.
75 Jao,
121 Jan.
79% Jan.
73 Feb.
68% Jan.
80% Feb.
43 Jan.
99% Jan.
104 Jan.
137% Feb.
114 Feb.
117 Jan.
99% Jan.
62 Jan.
106 Jan.
31%
121
97%
110%b.
113%
11358b.
114 b.
85 b.
65 a. 68% Jan.
20 a.
100
68 b.
71 b.
92%
104%b.
125 b.
124 b.
121 b.
111%
121 b.
109 %b.
96%b.
114 b.
112 b
108 78b,
102%b.
I l l a.
92
i-9 Feb.
70 Feb.
69 Jan.
89% Jan.
71% Jan.
88 Feh.
18 Feb,
111% Jan.
77 Jan.
75 Jan.
94% Jan.
Closing.
Railroad Bonds.
Mil. Lk.Sh. & W.—1st, 6s, 1921.
Ashland Div.—1st, 6s, 1925. .
Milw. & Nor.—M. L., 6s. 1910..
Extension, 1st, 6s, 1913........
Minn. & St. L.—1st, 7b, 1927....
Imp. & Equip.—6s, 1922........
Mo. K.&Tex.—Con., 6s, 1920...
Consol., 5 b, 1920......... ...........
Consol., 7s, 1904-5-6................
Mobile & Ohio—New, 6s, 1927 ..
Range since Jan. 1.
Feb. 21 Feb. 17
119%
114 %b.
109 b.
107%
100 b.
55 b.
68%b.
59 b.
101%
115 a.
Lowest.
119 b. 119 Feb.
116% Jan.
Í08 b. 105% Jan.
107% 104% Jan.
110 b. 102 Feb.
50 b. 53 Jan.
69%
68 jan.
60%
59 jan.
100
99 Feb.
110 b. 108% Jan.
1st pref. debentures, 7 s .......... 49%b. 49 ».
91%
Mutual Un. Tele.—S. f., 6s, 1911 93
Nash. Ch. & St. L.—1st, 7s, 1913 129 b. 13o b.
.06
106
134%a.
N.Y.C.&H.—1st, cp., 7s, 1903 134
110%
N.Y.&Har.—1st, 7s, 1900....... 131%b. 131 b.
88%
N.Y.Chic.&St.L.—1st, 4 b, 1937.. 89%
N. Y. Elevated—1st, 7s, 1906___ lt5% b. 115
128%
N. Y. Lack. & W.—1st, 6s, 1921. 129
Construction, 5s, 1923............ 110 b. 109 b.
N. Y. & Nor.-1 s t, 5s, 1927....... 106 b. 105 %b.
N. Y. Ont. & W.—1st. 6s. 1914.. 112% 112 b.
9¿
N.Y.Sub.&W —1st ref., 5s, 1937. 92
Midland of N. J.—1st, 6s, 1910 112*sb. 112 b.
77
N. O. Pacific—1st, 6s, 1920........ 78
Norfolk & West. - Gen., 6s, 1931 115 b. 115 b.
North.Pacific—1st,coup.,6s, ’21 116% 116%
Gen’l, 2d, coup., 1933............. 104% 105%
102 b.
N. Pao.Ter.Co.—1st, 6s, 1933... 102
Ohio & Miss.—Consol., 7s, 1898. 115 b. 1 >7 a.
11G b 117
2d, consol.,7s, 1911..........
Ohio Southern—1st, 6s, 1 9 2 1 ... 103 %b.
2d,inc., 6s, 1921........ ............. 32 b. 31 b.
Omaha & St. L .- ls t , 4s, 1937.. 74 b. 75%a.
99
Oregon Impr. Co.—1st, 6s, 1910 99
108%b.
Ore. R.&Nav. Co.—1st, 6s, 1909 109
Consol., 5s, 1925...................... 9J%b. 99%
95%
Oregon & Transoon.—6s, 1922.. 90%
108 a.
Peo. Dec. & Evans.—1st, 6s, ’ 20.
104%b.
2d mort., 5s, 1927______ ____ 74 b. 75
Rich & A ll—1st, 7s, 1920, tr. rec 55 b. 55%
113 b.
Richm. & Dan.—Cons., 6s, 1915
105 b. 106 b.
Roch. & Pitts.—1st, 6s, 1921... 116 b. 118 b.
Consol., 6s, 1922...................... 115 b. 116 a.
Rome W. & Ogd.—1st, 7s, 1891. 108 b. 108 b.
Consol., extend., 5s, 1922....... 102 % 102%
St Jo. AGd.Isl.—1st, 6s, 1925 . 102 a. 100%b.
Highest.
120% Jan.
117% Jan.
■110 Jan.
108 Jan.
110 Jan.
59 Feb.
73% Jan.
63% Jan.
lo6% Jan.
116 Jan.
45 Jan.
51
84% jan.
93%
128% Jan. 130
104% Jan.
132% Jan. 135
110%
Feb.
Feb.
Jan.
Feb.
Feb.
86% Jan.
114% Jan.
127 Jan.
107% Jan.
102% Jan.
109 Jan.
91 Jan.
111% Jan.
75% Jan.
112% Jan.
115% Jan.
102 Jan.
99% Jan.
114% Jan.
117 Feb.
99% Jan.
31% Jan.
75 Jan.
94% Jan.
103% F< b.
9ó% Jan.
93 Jan.
L06 jan.
10 3 Feb.
72 Jan.
55 Jan.
109 Jan.
100 Jan.
118 Feb.
113 Jan.
107 jan.
101% Jan.
9s Jan.
90% Jan.
117% Jan.
129% Feb.
108% Jan.
106 Jan
113 Jan.
93 JaD.
113% Jan.
80 Jan.
117% Jan.
116% Jan.
105% Jan.
102% Jan.
115% Feb.
118 Feb.
104 Jan.
34 Jan.
76 Jan.
100 Jan.
110 Jan.
100 Jan.
96% Feb.
109 Jan.
St. L. Alt.& T.H.—1st, 7s, 1894. 112%b.
2d, M., pref., 7s, 1894............. 109 b. 108% 108 Feb.
2d., M.,lnc., 7s, 1894..... ........ 104% 104 b. 103 Jan.
40 a.
98 Jan.
St. L. Ark. <&Tex.—1st, 6s, 1936 103% 103%
2d, 6s, 1936.............................. 45 a. 44 0. 40% Jan
St. L. & Ir. Mt.—1st, 7s, 1892... 107%b. 106 b. 108 Feb.
110
Cairo & Fulton—1st, 7s, 1891 104 b. 104% 104% F* b.
Gen. Ry. & land gr., 5s, 1931. 88 %b. 87 b. 88 Feb.
St. L. & San F r .- 6s., Cl. A,1906 116%b. 116 b. 113% Jan.
116%0. 116 b.
116%b. 114 Jan.
6s,’ Class C,’ 1906 ............................ 117
115%b. 114 b.
Gen’l mort., 5s, 1931 ................... 102 %b. 102% 100% Jan.
So. Pao., Mo.— 1st, 6s, 1888... lu l% b. 101% 100 Jan.
St. Paul M. & M.—1st, 7s, 1909. 112%b. 112%b. 112 Jan.
2d, 6s, 1909 ....................................... 118%o. 118% 117 Jan.
115
114% Jan.
1st cons., 6s, 19 3 3 ................... . 115
Do
reduced to 4% s.. 98 %a. 96%b. 96% Feb.
92 a. 92
33 b. 34%
34 Feb.
So. Carolina— 1st, 6s, 1620 ........... 102% 101%b. 97 Jan.
79
b.
79
b.
2d 6s, 1931 .......................................
15 b. 17%a.
So. Pac.,C al—1st,6s, 1905-12.. 113%b. 113% 111% Jan.
113 Jan.
110% Jan.
104% Feb.
go" Fae , N. M.— 1st,, 6s, 1911
Tex. & Pac.—Inc. & Id gr, 7s. ’15
Rio Grande Div.— 6s, 1930 —
Gen. mort. &term., 6s, 1905..
Tol. A.A. & N. M.—1st, 6s, 1924.
108 b.
48%
68 b.
60
98 %b.
105
86 b.
95 b.
92%b.
114%t>.
103 %b.
118 %b.
109%
110 b.
115 b.
105%
101%
82
45 b.
98%
88 b.
109 b.
108 b.
90
85 b.
108 b.
88 b.
1**1 %
49
47% Jan.
68 %b. 6 í% Jan.
60 b. bO Jan.
93
85 jan.
101 Jan.
85 b.
96 b. 93 Jan.
93
1 l5 b. 114 Jan.
LakeSh.—Con.coup.,lst!7s,i900 125 b.
Con. coup., 2d, 7s, 1 9 0 3/........ 124%b.
122% Jan. 125 jan.
Tol. & Ohio Cent.—1st, 5s, 1935
. Long Island—1st, 7s, 1898..
121 Jan.
1st, consol., 5s, 1931...............
i l l Jan. 111% Feb.
Union Pacific—1st, 6s, 1899___
123 Feh
121%b.
118%
N. O. & Mobile—1st, 6s, 1930. Ill% b .
Sinking fund, 8s, 1893..........
108% Jan. 110 Jan!
109%b.
2d, 6s, 1930............................ 99%
96% Jan. 99% Feb.
Kan. Pacific—1st, 6s, 1895___
l
i o b.
E. H. & N.—1st, 6s, 1919........ 114%b.
114 Feb. 114 Feb.
1st, 68,1896...........................
General, 6 b, 1930.................. .. 112%
115 b.
Trust Bonds, 6 b, 1922............. 109 b.
104%
108 Jan. 110 Jan.
10-40, 6 b , 1924......................... 102%b.
101
104 Feb. 104 Feo.
Oregon Sh. Line -1st, 6s, ’ 22..
82
*Lou. N. A. & Ch.—1st, 6s, 1910. 109%b.
Virginia Mid.—Gen, m., 5s, 1936
109 Jan. 112% Jan.
Consol., gold, 6 b , 1916............. 91%b.
45 b.
90% Jan. 93 J an.
Wab. 8t.L. & Pae. - Gen., 6s, ’20
¿Mem. & Cfi’lston—6s, gold, 1924 101 b.
100 Jan. 10278 Jan.
Chicago Divison—5s, 1910__
98
M etro. Elevated.—1st, 6s, 1908. 113% 112 b. 111% Feb 116% Jan.
90 b.
Wabash—Mortgage, 7s, 1909..
• 2d, 6s, 1899............................. 107
104 b. 102 Jan. 107 Feb.
109 b.
Tol. & Wab.—1st, ext.. 7s, ’90
sMich. Central—1st, con., 7s, ’02 130 a. 133 a. 127 Jwn. 130 Feb.
108 b.
1st, St. L.Div., 7s, 1889.......
Coosol. 5s, 1902..................
110 a. 109 b. 109% Feb
89 b.
112% 112 Jan. 113% Jan!
MiBs’riPac.—1st, cons., 6s,1920 112
85
Con., conv., 7s, i.907............
3d, 7s, 1906............................... 118%a.
108
118 Feb
Pac. of Mo.—1st, 6s, 1888___ 101 b. 1007sb. 100% Feb. 103% .Tan
2 d ,7s, 1893...1. .1...............
io i%
2d mort., 7s. 1891............... 105 b.
104 Jan. 105% Feb! West, 8hore—Guar.. 4s...............
Mo t e —T h e le tt e r “ b” in d ica tes p r ic e bid, a n d “ a ” p rice asked; ail o th e r p rice s a n d th e ra n g e a re fr o m a ctu a l sales.
118 Jan.
109% Feb.
109% Feb.
114% Feb.
100 Feb.
78 Jan.
45 Jan.
91 Jan.
84 Feb.
107% Jan.
107% Jan.
83
jan .
99% Jan.
75 Jan.
59% ja n .
114% Feb^
loO Jan.
118 Feb.
115% Jan.
lo 9 Feb.
103 Jan.
101 % Feb.
104% Feb.
4a% Jan.
111% Jan.
105% Jan.
92% Jan.
118 Jan.
118% Jan.
118 Jan.
115% Feb.
103 Feb.
lo l% Feb.
113 Feb.
118% Jan.
116% Feb.
97 Jan.
92% Feb.
36% Jan.
102% Feb.
85 Feb.
18% Jan.
113% Feb.
108
51%
70%
62
99%
105
Feb.
Jan.
Jan.
Jan.
Feb.
Feb.
97% Jan.
93% Jan.
115% Feb.
119 Jan.
1.12% Jan.
I l l Jan.
115 Feb.
105% Feb.
103% Jan.
82 Feb.
47 Jan.
98% Feb.
90 Jan.
109 Jan.
109 Feb.
ni Feb.
88% Feb.
109 Feb.
90 Jan.
101% Feb.
S T A T E BONDS.
SECURITIES.
Alabama—Class A 3 to 5 . . . . . 1906
Class B, 5s............................1906
Class C, 4s............................. 1906
6s, 10-20................................1900
Arkansas—6s, funded.. 1899-1900
7s, Little Rock & Fort Smith, iss.
< 7s, Memphis & Little Rock, iss..
7s, Arkansas Central R R ___
Georgia—7s, gold....................1890
¿Louisiana—1
7s, cons................ 1914
- Stamped, 4s.-.. ........
Michigan—7s....................... 1890
Bid.
Ask.
106% 107
110
100
103%
15
20
20
........
15
Í05%
105
92%
92
105
Bid.
SECURITIES.
Asylum or University, due 1892
6s. loan.________
___ 1893
Funding a c t ____
___1900
New bonds, J. & J ___1892-1898
Chatham R R __
Consolidated 4s__
1910
6s............................................ 1919
Ask.
SECURITIES.
Bid.
Rhode Island—6s, oou.. 1893-1894 112
102
South Carolina—6s, non-fund. 1888
3%
107
Brown consolidated 6s.......1893 106
107
60
111%
Compromise, 3-4-5-6s.......... 1912
70
112
New'settlement—6s............. 1913 100
35
37%
5s......................................... 1913
92
10
69%
20
3 s . . . . .................................. 1913
48
7
10
6s, consolidated bonds............. .
12%
75
10
60
94 I 6s! consolidated, 2d se rie s .......
fis. deferred, trust re«__________
Í2 Í 124 j
A sk .
4%
107%
62
71
70
ÏÔ
F ebruary
THE CH RONICLE
25, 1888. J
249
BONDS—STOCK EXCHANGE QUOTATIONS ON FRIDAY OF INACTIVE RAILROAD BONDS.
SECURITIES.
Bid.
Ask.
SECURITIES.
Bid.
Ask.
SECURITIES.
Bid.
Ask
60
E.&W.of Ala.—1st, cons. 6s, g., 1926
Pacific RR.—Central Pacific—
Eliz. C. & N.—S.f., deb., 6s. ..1921
Gold bonds, 6s............... ..1895 113% 115'
Railroad Bonds.
1st mortg., 6s........................1920
Gold bonds, 6s.................. 1896 113% 114r
(Stock Exchange Prices.)
Erie—1st,
extended,
7
s..........
1897
Gold bonds, 6s................. 1897 114
Atcli. Top. & San. Fe—4% s...1920
2d, extended, 5 s ...................1919
Cal. & Oregon—Ser. B., 6 1892
Sinking fund, 6 s ...................1911
81
106
.........
....1
9
2
3
3d,
extended,
4
%
s
West. Pacific—Bonds, 6s__ 1899 110%
Beech Creek—1st gold, 4s.......1936
116
123
4th, extended, 5s.................. 1920
No. Railway (Cal.)—1st, 6s. 1907
114%
Balt. & Onio—1st6s, ParkB ..1919
5th, 7s.................................... 1888 102% 102%
6s, gold..................................1925 1 108%
Union Pac.—1st, 6s..............1896 113% 113%:
1001« 1st, cons., fd. coup., 7 s ..... 1920
133
Bost. H. Tun. & W —Deb. 5s...19x3
1st, 6s................................. 1897 114
BrooklynElev.—1st, (1., 6 s ...1924' 105 1051« Reorg., 1st lien, 6s............... 1908 Í07
1st, 6s........................
1898 114% 114%
B. N. Y. & E.—1st, 7s.......... 1916 137% 140
2d, 3-5s.................................. 1915]
Col. Trust, 6 s .................... 1908
102
"
e
è
‘
N. Y. L. E. & W.—CoL tr., 6sl922
Burl. Ce. Rap. & No.—1st, 5s. 1906
Col. Trust, 5s..................... 1907
94
90
Funded coup., 5s.................. 1969
Consol. & col. tr, 5s..............1934
C. Br. U. P.—F. c . , 7 s ....... 1895 Ì05*' ---- Buff. & S. W.—Mortg. 6 s .... 1908 90
Registered..................................
Atch. Col. & Pac.—1st, 6s. 1905 105
116%
Evan. & T. H.—1st, cons., 68.1921
Minn. & St. L.—1st 7s, gu .1 9 2 7
Atch. J. Co. & W.—1st, 68.1905 103
Mt. Vernon—1st, 6 s.........1 9 2 3
Iowa C. & W e s t .-1st 7 s ....1909
Ut. So.—Gen., 7 s ..............1909 90
107
Evans. & Indian.—1st, cons...1926 104
Ced. Rap. L F. & N., 1st 6S.1920
87
92
Extern, 1st, 7 s ...............1909
96
1st 5s................
1921
Eureka SpriDgs R’y, 1st, 6s, g.1933
Missouri Pacific—
Buff. N.Y.& Phil.—Cons. 6 s ...1921
Fl’t & P. Marq.—Mortg., 6 s... 1920 1211«
Verd’s V. Ind. & W., 1st, 58.1926
50
40
98%
Grand Rap. & Ind.—Gen. 5s..1924 95
Trust certificates.....................
Ler. &C’y Val A. L.,1st,58.1926
General 6s,.............................1924
Registered.....................................
St. Louis & San Francisco—
98
Trust certificates.......................
Green B. W. & St. P —1st, 6s. 1911
1st, 6s, Pierce C. & 0 .........1919 105
85
Central Iowa—1st, 7s, Tr. Recl899
Han. & St. Jos.—Cons., 6s...... 1911 T20% 121%
Equipment, 7 s ...................1895 105
East’n Div., 1st,6 s . .. . . ........1912
Hous. E. & W. Tex—1st, 7s.. .1898 65
104
Kan. City & 8.—1st, 6s, g.1916
Illinois Division—1st 6s....... 1912
Illinois Central—1st, gold, 4s.l951 T041« 106
105
Ft. S. & V.B. Bg.—1st, 68.1910
Cons, gold bonds, 6 s ............ 1924
1st, gold, 3%s.........
1951 93% 94
St. L. K.&So.Wn.—1st, 68.1916
Cent. RR. & Banking Co., Ga.—
Spring!. Div.—C ou p.,..6s,. 1898 112
Tex. & Pac.—1st, 6s............1905
Collateral gold, 5s.................1937 1001« 100 % Middle Div.—Reg.. 5 s ........ 1921 111
109
1st, 6s, ex coupon................
120
C. St. L. & N. O.—Ten.L,7s. 1897
Ches. & O.—6s, gold, ser. A . . .1908 103
Consol., 6s, trust receipts. 1905 104 105
1st, consol., 7 s ..................1897 117 120 Pennsylvania RR.—
d ie s . O. & So. West.—2d 6 s ...1911
Chicago & Alton—1st, 7s........ 1893 113%
2d, 6s...................................1907 118
Pa. Co.’s guar. 4%s, 1st op. .1921 106% 107
Sinking fund, 6s.................... 1903 123%
Gold, 5s, coupon............... 1951 1151« 118
Pa. Co.’s 4%s, reg.................1921 ‘105%
119
Louis. & Mo. River—1st7s.. 1900
Registered..........................
Pitts. C.&St.L.—1st,cp.,7s. 1900 ‘117
2d 7s........................
1900 117
Dub. & 8. C —2d Div., 7s ...1894 l i l i «
2d, 7 s ................................. 1913
82
St. L. Jacks. & Chic.—1st, 7s 1894 115
Ced. Falls & Minn.—1st, 7s.1907 75
Pitts. Ft. W. & C.—1st, 7 s ... 1912 T40
1st, guar. (564), 7s............ 1894 115
Indianap. D. & Spr.—
2d, 7s...................................1912 T38
2d mortg. (360), 7s............ 1898 ’ 115
1st, 7s, ex. fund, coupon___1906 102 103%
3d, 7s...................................1912 134 142
Lake Shore & Mich. So.—
2d, guar. (188), 7s..............1898 ‘ 115
Clev. & P .—Cons., s. fd., 7s. 1900 126
Clevo. P. & A.—7 s _____ ...1892 1111«
Miss. R. Bridge—1st, s.f. 6s. 1912 ‘ 107
4th, sink, fd., 6s.................1892 106%
Chic. Burling. & Q.—
Buff. & Er.—New bonds, 7s. 1898 12 1 % 122% St. L. V. & T. H.—1st, g., 78.189 112
5s, sinking fund.................... 1901 -104
Kal. & W.Pigeon—1st, 7 s... 1890 104%
2d, 7s...................................1898
Iowa D iv .- Sink, fund, 5 s ..1919
Det. M. & T.—1st, 7s............ 1906 126 Í3Ó"
2d, guar., 7 s ......................1898 106 111
97
Sinking fund, 4 s ............... 1919 96
Lake Shore—Div. bonds, 7s. 1899 122 %
Pine Creek Railway—6s of 1932
1921 91%
Plain, 4e............
i’2 5 " Pitts. & Westein—1st, g., 4s.. 1917 "74 % *75”
Consol., reg., 1st, 7 s ........ 1900
Nebraska Extension 4s....... 1 h27 92% 93
Consol., reg., 2d, 7 s .......... 1903 124
Pitts. Cleve. &Tol.—1st,6 s... 1922
Chic. Burl. & No.—Deb. 6 s .... 1896
Mahon’g. Coal RR.—1st, 58.1934 103
Pitts. Junction—1st, 6s.......... 1922 108
Long Island RR.—
Chic. Rock Isl. & Pac.—
Pitts. McK. & Y —1st, 6s.......1932
88
Des Moines & Ft. D.—1st,4s. 1905
N. Y. & M. Beach—1st, 7s.. 1897 110
Rich. &Danv.—Deb. ex cp.6s.1927 85*
1st, 2%s................................1905
N. Y. B. & M. B.—lst,g., 5s. 1935
84
Consol, mort., gold, 5s........ 1936
Extension, 4s ................... 1905
Louisville & Nashville—
Atl. & Char.—1st, pr., 7s___1897
Keok. & Des M.—1st, 5 s __ 1923 1C6 107%
109
Cecilian Branch—7 s ............1907
Incom es..............................1900
Chic. Milw.& St.P.—
Pensacola Div.—6s............... 1920 103
Rich. & W. Pt. Ter’l. Trust 6s. .1897 87% 87%,
1st, 8s, P. D ........ .................1898 127
St. Louis Div.—1st, 6 s .........1921 *115
San Ant.& Arans.—1st,6s,’85-1916
2d, 7 3-10s, P. D ...................1898 118
2d, 3s................................... 1980
1st, 6s, 1886.......................... 1926 90
........
1st, 7s, $ g., R. D ................. 1902 124 127% Nashv. & Decatur—1st, 7s.. 1900 ÎT7*
Scioto Val.—1st, cons., 7s.......1910
1st, La Crosse Division, 7 s ..1893 114%
S. & N. Ala.—S. f., 6 s .......... 1910 105
50
Coupons off........................ .
1st, I. & D., 7s.......................1899 119
Louisv. C. & L.—6 s .............. 1931
St. Louis & Iron Mountain—
1st, C. &M., 7s......................1903 125 Í28%
id i
5 p. c. 50 year goldbds........ 1937
Arkansas Branch—1st, 7s.. 1895 109
1st, 7s, I. & D. Ext...............1908 123% 128
Pens. <& At.—1st, 6s, gold.. 1921 96
96%
Cairo Ark. & T .—1st, 7s__ 1897 110
1st, S. W. Div., 6s.................1909 113%
87
Lou. N. O. & Tex.—1st,4s___1934
St. L. Alton & Ter. Haute—
1st, 5s, La C. & D a v ......... ..1919 103
2d mort., 5s....................... ..1934 40
Bellev. & So. 111.—1st, 8s. ..1896 118
lBt, H. &D., 7 s .................... 1910 123 124 Mexican Cent.—New, ass., 4 s.1911 66
Bellev. & Car.—1st, 6 s ........ 1923 T0S%
1st, H. & D., 5s..................... 1910 100% 100%
Income, 3 s .... ...................... 1911 18
22
St. Paul Minn. & Man.—
Chicago & Pacific Div., 6s.. 1910 119 122 Michigan Cent.—6s.................1909
121 %
,
Dakota Extern—6s.............1 9 1 0
99
Chic. & Mo. Riv. Div., 5s . ..1926 98
Coupon, 5s . . . . .. . . . . . . . . .. . . 1 9 3 1 *111
83
Montana Exten.—1st, g.,4s.1937
Mineral Point Div., 5s........ 1910 100 102
111%
Registered, 5s........ ...1931
Registered.............................
C. & L. Sup. Div., 5s............1921 100
Jack. Lan. & Sag.—6s _____ 1891 105
Min’s Un.—1st, 6s................. 1922 110
Fargo & South., 6s, Assu ...1924
Milw. Lake S. & West.—
St. Paul & Duluth—1st, 5s___1931
97
Inc conv. sink.fund 5 s .... .1916 «0
90
Conv. deb., 5 s ......................1907 80
Sodus Bay & So.—1st, 5s, g ...l9 2 4
90
95
Dakota & Gt. South., 5s.......1916
Michigan Div.—1st, 6s........ 1924
114 Tex. Central—1st, s. f., 7 s ___1909
Chicago & Northwestern—
Minn.&St.L.—I’a Ex.—1st, 7s. 1909 90 101
1st mortg. 7 s ........................1911 50
Escanaba & L. S.—1st, 6 s ... 1901 112
2d mortg., 7s.......................18 9 1
80 100 Tex. & N. 0 .—1st, 7s............... 1905 113 115%:
Des M. & Minn.—1st, 7 s ___1907 122
Southwest Ext.—1st, 7 s ___1910
Sabine Division, 1st, 6s....... 1912 101
Iowa Midland—1st, 8 s ........ 1900 129
Pacific Ext.—1st, 6 s............ 1921
ib’5%:
Valley R’y Cq. of O.—Con. 6s. 1921
Peninsula—1st, conv., 7s__ 1898 125
Minn. & Pac.—1st mortg. 5 s..1936
Virginia Midland. - Inc., 6 s... 1927
Chio. & Milwaukee—1st, 7s. 1898 118
Minn. & N. W.—1st, 5s, gold ..1934
Wan. St. L. & Pac.—
Win. & St. P .- 2d, 7 s .......... 1907 131%
Minn. S.Ste.M.&Atl.—1st,5 s..1926
Havana D iv.-6s.......... .....1 9 1 0
Mil. & Mad.—1st, 6 s ............1905
Mo. K. & T.—Cons.,2d, inc___1911
Indianapolis Div.—6s.......... 1921
109
Ott. C. F. & St. P .- ls t , 5s.. 1909
H. & Cent. Mo.—1st, 7s.......1890
107%
Detroit Div.—6 s ...................1921 109 112
Northern 111.—1st, 5 ............ 1910
Mobile & Ohio—Col. tr., 6s ...1892 102
Cairo Div.—5s........................1931
CL Col. Cin. & Ind.—1st, 7s, s.f.’99 121 Ì 22 '
74
73
St. L. & Cairo-4s, guar.......1931
Tol. & W ab.-Equip. bds.,7sl883
Consol, sink, id., 7 s ..............1914
10
Morgan’s La. & T.—1st, 6s___1920 107
Quin. &Tol.—1st, 7s........ 1890
Chic. St. Paul M. & O.—
90
1st, 7 s .................................... 1918 121
Han. «¿Naples—1st,7s___190y
Chic. S. P. & Minn.—1st, 6s.1918 123 125
Nash. Chat. & St. L.—2d, 6s.. 1901 106 107
111. & So.Iowa—1st,ex.6s. 1912 90
No. Wisconsin—1st, 6s........ 1930 124ig 1261« N. J. June.—Guar. 1st, 4s.......1986 102 104
St. L. K. C. & N.—
St. Paul & S. C.—1st, 6s ....19 1 9 ........ 126
Registered certificates................
Real Estate & RR.—7s___1895 112%
Chic. <fe E. 111.—1st, s. f., cur.. 1907 117 1118 N. Y. P. & O.—Prior lien, 6 s .. 1895
Clarinda Br.—6s............. 191e
Gen. con., 1st, fis..............1937 93% 94 N. Y. & Northern.—2d, 4 s .... 1927
52
55
St.Charles Br’ge—lst,6s.l908
Chic. & W. Ind.—1st, s.f., 6s.. 1919 1 1 3 V ___
N. Y. & New Eng.—1st, 7 s .... 1905 115
No. Missouri—1st, 7s........ 1895
General mortgage, 6 ............1932 117
1st, 6 s ....................
1905
Wab. St. L. <fe Pac.—Iowa Div., 6s.
Chic. & St. Louis—1st, 6s.......1915
N.Y.Susq.&West.—Deb. 6 s ...1897
West. Union Tel.—Coup. 7s.. .1900 118
Cin. I,St.L.& Chic.—1st,g.,4s .1936
73
2d, 4%s.......
1»37 70
Registered.....................................
118
Registered............. ....................
N. Y. N. H. & H.—1st, reg. 48.1903 105
N. W. Telegraph—7 s ............... 1904 100
Cin. Jack. & Mac.—1st,g.,5s...1936
N. Y .T ex.& M ex.—1st, 4 s ...1912
Wheeling & L. E., 1st M. 5s. .1926 96% 97%s
CoL & Green.—1st, 6s..............1916
Northern Pac.—Gen. 3d, 6 s ..1937 90% 91
Market St. Cable Ry., 1st, ts.1913
2d, 6s......................................1926
Manhat. Beach Imp. Co.—7s. 1909
86
Dividend scrip..................... ........
Col. & Cin. Midland—1st, 6 s..1914
95
93
Dividend extended.......................
Am. Water Works Co., 1st. 6s.1907 102 % 103%.
Cteur d’Alene, 1st, 6s, g old ...l9 1 t
James River Val.—1st, 6s. .1936 103 108 Tenn. Coal Iron <fc Railway—
DeL Lack. & West.—
101 %
Spokane <te Pal.—1st, 6s---- 1936
Tenn. Div., 1st, 6s............... 1917
Convertible 7 s ......................1892 11138 1121«
St. Paul & N. P.—Gen., 6 s ..1923 i l 5% 116%
8t>%¿
Bir. Div.—1st con. 6s............ 1917 "¿6
Mortgage, 7 s ......................... 1907 135 140
Registered..................................
Col. & Hock. Coal & I.—6s, g..l917
Syra. Bing. & N. Y.—1st, 7s .1906 ‘135
Helena & RedM’n—1st,g.,6s. 1937
Morris & Essex—1st, 7s.......1914 142
Dul. <&Manitoba—1st, g. 6s.1936
100
In eom e B on d s.
2d, 7s...................................1891 108% LOS1«
Do Dakota I)iv.—1st. 68.1937
(Interest payable ij earned.)
Bonds, 7s.......................... 1900 ‘116 126
Hel. B.Val. & Butte, 1st, os. 1937
Atl. & Pac.—Cen. D iv.............1922
25
7s of 1871.................
1901
Drummond & P’ bg —1st, 5s l937
Cent. Iowa—Coup, debtoertf’s.......
135%
1st, con., guar., 7 s ............1915
Helena & No.—1st, g’d, 5 s.193,
93
Eliz. City & Nor.—2d inc........ 1970
DeL & Hud. Canal—1st, 7s. ..1891 108 109
La M. & Mo. Riv.—1st* 5s 1937
Ind.Dee.& Spr.—2d ine.tr.rec.l906| 20
1st, ext., 7s............................ 1891 108
N. O. & No, E .—Pr. L, g., 6s ..1915
102
Leh. & Wilkesb. Coal............... 1888
Conpon, 7 s ,........................... 1894 ‘114
New Or. <fe Gulf—1st, 6s........ 1926
103
99 Ï05’ Milw. Lake Sh. & W.—Income.......
Registered, 7s.................... 1894 ‘114
25% 27
Norf. & W.—New R i v .- 1st,6s. 1932
Mobile & Ohio—2d pref. deben___
Pa. Div., coup., 7s..,.............191'
20
Imp. & Ext., 6s........... .........1934 101 %
3d pref. debentures....................
22
Registered....... ...
Adjustm entM .,7s.... ......1 9 2 4 107
4th pref. debentures.....................
20
Albany & Susque.—1st, 7s.. ¿888 101 %
Ogd. & Lake Ch.—1st, 6 s ___ 1920
N. Y. L. E. & West.—Inc., 6s..1977
1st, cons., guar., 7 s .......... 1901 ‘ 130
Ohio Cent.—Min. Div.-Inc. 7s 1921
Ohio & Miss.—Cons., s.f., 7s.. 1898 115
Registered..............................
Springfield Div.—1st, 7 s .... 1905 108
Ogdens. & L. Cham.—Income. 1920
1st, cons., guar., 6 s ........ .1906 122%
Shenandoah Valley—Inc. 6s.. 1923
General 5s..............................1932
95
Registered............................
Ohio Cfint.—1st Ter. Tr., 6 s... 1920
Rons. & Bar.—1st, coup.,7s. 1921 142
F r e e L ist.
Min. Div.—1st, 6 s................. 1921
Registered.................................. 142
Ohio River RR.—1st, 5 s .......1936
96
98* Erie & Pitts. R’y, cons. 7s__ 1898 T12
Det. Mack. & Mar.—1st, 6s.. .192i
Oregon & Cal.—1st, 6 s ............ 1921
Gal. H. & H of ’82.—1st, 5s..1913
Det. Bay C. & Alp.—1st, 6 ....1 9 1 3 1055g 1061« Panama—Sink, fd., sub., 6 s ... 1910
Grand Rapids & lud., 1st, 78.1899
E. Tenn. Va. & Ga.—1st, 7 s... 1900 118
Peoria & Pek U’n—1st, 6 s ....1921 Ï09*
Jefferson RR.-r-lst, 7 s ............1889 101
Divisional 5s.........................1930 105
2d M.. 4 V ............................ 1921
N. J. Southern, int. guar., 6s. 1899 100
73
t.........
No price Frid iy ; these are latest quotations made this week.
250
THE
CHRONICLE.
New York City Banks.—The following statement shows the
condition of the Associated Banks of New York City for the
week ending February 18, 1888:
Bank*.
Average Amount of—
Legal Net Deposits
Loans and
Discounts.
New Y o rk ........
Manhattan C o..
Merchants’ . . . . .
Mechanics’. . ... .
America.........
P h en ix.... . . . . . . . . .
City........................
Tradesmen’s..........
Chemical___ ____
Merchants’ Exch.
Gallatin National.
Butchers’ & Drov.
Mechanics’ A Tra.
G re e n w ich .........
Leather Mannf’rs.
Seventh Ward.......
State of N. Y ........
Amerlc’n Exch’ge.
Commerce........
Broadway.. . . . . . . . .
Mercantile.............
P acific..............
R e p u b lic ............
Chatham. . . . . . . . . . .
Peoples’. _____ . . . .
North A m erica....
Hanover...............
Irving...... .............
Citizens’ ...........
Nassau............ .
Market & Pulton.
St. N ich ola s.......
Shoe ¿ Leather...
Com Exchange...
Continental...........
O r ie n ta l............
Importers’ & Trad.
Park.......................
North R iv e r .......
East River............
Fourth National..
Central National..
Second National..
Ninth National....
First N ational.....
Third National___
N . Y. Nat. E x ch ...
B ow ery.................
N. Y. County........
German-Amerlc’n .
Chase National. . . .
Fifth A venue. . . . . .
German Exch'nge.
Germania.............
United States........
Lincoln............. .
Garfield.................
Fifth National......
B’k of the Metrop.
W est Side..............
Seaboard ..............
Sixth National___
Western National,
Specie.
9
$
lenders.
1.430.000
2.277.000
1.424.200
980.000
1.766.200
597.000
6.451.100
505.000
6.705.100
651.800
705.000
408.800
1C5.000
104.200
767.700
312.200
454.700
3.459.000
4.939.200
962.500
1.519.400
461.800
2.064 800
1.154.400
329.600
532.300
2.898.800
608.600
524.300
171.600
1,015,300
265.000
498.000
754.400
1.027.200
158.700
4.238.400
5.577.200
110.800
304.000
2.574.000
1.595.000
568.000
913.100
3.288.200
1.125.800
257.100
543.200
620.100
492.300
1.934.200
788.200
86,900
181.400
10 500.000
9.105.000
7.312.300
8.350.000
12, i 09,700
3.SH4.000
7.870.300
2.689.800
19,485,700
3.564.700
5.167.000
1.963.500
2.008.000
1.179.400
3.103.900
1.315.500
3.621.400
16.381.000
15.888.100
5.613.500
8.081.900
2.465.000
9,352 000
4.720.100
2.206.900
2.632.400
12.257.000
2.892.000
2.787.400
2.602.300
4.359.300
1.915.800
3,218.0('0
6.269.5c0
4.318.200
2.080.000
19.218.200
19.193.100
1.964.500
1.369.400
16.420.200
7.108.800
3.618.000
5.355.000
2*' ,996.500
6.099.600
1.429.000
2.486.200
2.113.900
2.612.500
7.526.200
3.640.700
2.458.600
2.402.800
4.325.600
2.418.300
2.229.800
1.405.100
3.761.300
1.807.600
2.279.900
1.736.200
8.422.300
$
990.000
788.000
761.800
1.339.000
671.500
192.000
919.000
152.800
842.500
385.100
677.300
117.800
218.000
116.300
291.600
98.500
278.000
2.006.000
1.123.900
380.400
783.100
283.400
672.200
429.900
88,200
249.700
7X2,100
262.600
216.700
428,600
263.500
78.900
253.000
281.000
871.800
421.200
1,562,300
2.106.900
158.100
83,100
1,926,600
1,082.200
427.000
283.500
1,887,400
88S000
136.200
215 400
133.700
117.400
667.900
137.200
676.000
418.700
1.011.100 115.900
944,800
121.800
612.700
218.100
314,100
235.200
286.000
840.400
260.200
265.700
594.500
232,800
174,100
471.600
556.000 1.467.900
other
than U.S.
9.630.000
9.954.000
7.176.900
7.419.000
10,533,600
2.846.000
12.498.100
2.512.600
21,555,200
4.110.100
4.307.800
1.940.500
2.187.000
1.138.900
2.728.500
1.365.300
2.906.600
15.741.000
13.216.100
6.049.700
8.286.400
2.782.900
9.625.300
5.326.400
2.634.900
3.259.400
13,010 900
3.096.000
3.006.300
2.977.200
4.334.800
1.683.600
3.319.000
5,5d3,800
5.332.300
2.130.100
21.480.000
24,756,500
2.002.500
1.534.500
16.784.900
8.797.100
4.245.000
6.533.900
19.416.900
6.382.800
1.299.100
2.617.600
2.726.600
2.439.600
8.291.600
3.717.700
3.093.600
2.771.000
4.525.600
3.222.100
2.742.400
1.600.200
4.478.900
2.046.800
2.892.100
2.090.400
7.104.600
Circular
Mon.
$
45.000
45.000
259,000
9Ò",Ò0Ó
83,900
514.600
251.600
. 2,600
531,400
42,900
607,700
45,000
896,600
42,200
45,000
45.000
40,700
45.000
436,500
448,400
"45,000
45.000
43,600
45.000
132,200
40,500
180,000
45,000
Boston Banks.—Following are the totals of the Boston bank s:
Loans.
Specie.
L. T’nders. Deposits." CIroula’n. Agg.Cl’nge
$
$
$
$
$
$
Feb. 4 141,456,300 8,795.200 3.649,700 110.563.900 6,446,300 87.259.900
« 11 143,807.800 9,120.000 3,565,000 111.368.300 6.489,000 82,059,448
« 18 143,590,600 9,357.500 3,307,400 111.085.900 6.433,100 82,654,916
Philadelphia Banks.—The totals have been as follows:
1888.
Loans.
Lawful Mon’y Deposits.*
$
$
$
84,589,000
23,227,200
Feb 4 ....... 87,165.000
23,363,300
84,382,600
«
11...... 87.134.100
83,921,200
23,267,400
“
18...... 86.629,500
"Including the item “ due to other banks.’’
Circula’n Agg.Cl’ngs
$
2.302,870
2.314,690
2,322,150
$
61,927,347
52.869,235
56,469,292
Quotations in Boston, Philadelphia and Baltim ore.
Following are quotations of active stocks and bonds. A
complete list is given in the C h r o n i c l e the first Saturday
of each month.
SECURITIES.
B O ST O N .
RAILROAD STOCKS.t
Atomson A Topeka . . . . . .
Boston A L o w e ll............
Boston A M aine..............
Boston & Providence___
California Southern........
Central of Massachusetts
Preferred...................
Ohio. Burl. & North’n___
Cleveland A Canton....
Preferred......................
Eastern.................... ........
Preferred.......................
Fitchburg, p ref...............
Flint A Pere Marquette.
Preferred........................
Kan. City Ft. S. & G u lf..
Preferred.......................
K. C. Memph. & Birin. ..
Kan. C. Sprmjgf. <fc Mem.
Mexican C e n tra l..........
N.Y. & N. Eng., prof.......
Northern ........... ..............
Old Colony.......................
Wisconsin Central. . . . . . .
Preferred..... ................
BONDS.
Atch. A Topeka—1st, 7s.
■Coll. Trust, 5 s... . . . . . . . .
Plain, 5 s . . . . . . . . . . ..........
Mortgage, 5 s .................
Trust, 6s........................
Sast’rn, Mass.—6s, new ..
Bid.
9884!
Ask.
99
160 161
215V 216
........ ¡250
41V 42V
20 V
42
68
¿ 8
? 32*4
SECU RITIES.
K. C Fort 8cott <fc G.—7s
K.C. Memph. A Birm—5s
K. City Hp’d <fc Mem.—6s
£.0. Clint. A Spring!.—5s
Little R. A Ft. S.—7 s....
liOnlsv.Ev.&St.L.—1st, 6s
2d mort., 2-6s................
Mar. H. A Ont.—1908, 6s
1923,6s.........................
Mexican Central—4 s . . . .
income..........................
N.Y. A N. Eng.—1st, 7s.
1st mort., 6 s ..............
2d mort., 6s.................
Southern Kansas—5 s....
Texas Division—5 s ....
Incomes........................
Wiscon. Cent.—1st M., 5s
Income 5 s.................. .
Bid.
Ask,
115 116
92V 93
112 V 113V
97
109
103 V 105
ib ö "
68
98V
66 V
19
20
124V 124*4
113
66V
118V!----102 1Ö2V
¿128V1- —
94V 95
97
28 I—
91»*
97 — 83 V
81 v! 82V
88
¿135 |137
45
46
¿........ 49V
P H IL A D E L P H IA .
81V! »2
14V 14*8 RAILROAD STOCKS. 1
Buff. N.Y. A Phil.,ass.pd. 10 V 10V
¿114 ¡115
Preferred.......................
10
Lehigh V alley.................
174 175
56
56V
18 5a 3,8\ Little Schuylkill_______
62 V 63
40
Northern C e n tra l......... 87 V 90
Pennsylvania................... 54V 54 V
Phila. & Reading.............
119V 120
V 33V
92V 93 West Jersey...................... 33
59
90
RAILROAD BONDS.
88
100
AUegh. Val.—7 3-lOa. >96 115V
7s, E. ext., 1910 ............. 110
104
120
lne. 7s, end., coup., '94. 22
25
Bid.
Ask
SECURITIES.
Bid. Ask
Mew York Local Securities.
Bank Stock L ist.
BANKS.
America.......
Am. E x ch ...
Broadway...
3utohs’ <ft Dr
Central........
Chase...........
Chatham___
Ohemloal___
Citizens’ ___
City..............
Commerce ..
Continental.
Corn Exch...
East R iver..
11th W ard..
Fifth A v e ...
F irs t...........
F o u r th ......
Fulton.........
Bid.
Ask.
BAN KS.
Gallatin.. ..
Garfield......
138
250
Germ’nAm..
162
Germania. ..
135
Greenwioh..
220
Manöver....
225
I m.«ft Trad’s’
3400 3700 Irv in g .......
142 160
Leather Mis’
Manhattan..
300
167 169
Market........
124
Mechanics’ .
195
M’chs’ATrs’
130
Mercantile..
160
Meronants ’ .
800
M’rch’ts’Ex.
Metropolita
1700
142 150
Nassau........
165
New York ..
172
Bid. Ask.ri BANKS.
200
230
112
200
115
185
339
197
160
170
165
146
147
139
345
155
170
143
120
22V1 26
152 1156
215 I.......
N.Y. Count?
N.Y. Nat. Ex
Ninth...........
N. America.
North Riv*r.
Iriental....
Pacific.. . . . .
P a rk ...........
People’s. . . .
Paenix.........
tepublio . . .
St.Nloholas.
7th Ward__
Second.........
Shoe* Leatti
StateofN. Y.
Third...........
Tradesmen’ s
Tnited 8fc’ e«
Bid. Ask
200
130
125
130
185
162
167
175
130
141
117
115
230
140V
117
125
140
167
170
142
122
125
118*4
106 107
...... 225
Insnrance Stock L ist.
[Quotations by E. S. Bailey, 6 V Pine St.]
OOMPAN’ S. Bid. Ask. COMPA N ’ S. Bid. Ask. COMPAN’ S. Bid.
Am erican...
B ow ery.......
Broadway...
B rooklyn...
Citizens’ ___
Clinton........
Commonw’h.
*67",50Ò Continental.
Total................... 366,249,400,79,843,400 33.821,200 382,908,900 7.661.200
1888
SECURITIES,
Cam. & Amb.—M., 6s, ’89 104*4
Phila.& Read’g (Cont’ d)—
Catawissa—M. 7s, 1900. 123
Cons. 5s, 2d ser.,0.,1933 75
77
Del.&Bd.B.—1st, 78.1905 129 V
Debenture coup., 1893.
Leh.V__lst,6s,C .*R .,’98 121 122
Deferred incomes, c p ... 18
20
2d, 7s, rcg., 1 9 1 0 ........ 141V 143
Phil. W. * Balt.—Tr. c.,4s 100 V 101
Cons. 6s, C.& R.. 1923.. 131V 132
Penn.—Gen., 6s.o&r. 1910 132V
B A L T IM O R E .
Cons., 6s, o. &r.,1905.. 121V
RAILROAD STOCKS.t
Cons., 5s, c. A r., 1919. 113
95 100
Baltimore A O h io. . . . . . .
4 Vs, Trust L o a n ....___
Perkiomen—1st, 6s,cp.’87 Ì03
1st p r e f . . . . . . . . . . . . . . . . . . 124
Phil.&R.—2d,7s, c .* r .’ 93 113 V
2d pref........................ . 113
Cons., 7s, coup., 1911..
130 V R AILROAD BONDS.
Cons., 6s, g., I.R.C.1911 i Ï 9 ‘
Baltimore A Ohio—4 s.... 100V......
Imp., 6s, g., coup., 1897
105 V Cin. Wash. A Balt.—lsts. 98*4 99V
Gen., 6s, g., coup., 1908 111 V 1H V
72 I 74
2ds, 5s.....................
Gen., 7s, coup., 1908___ 113*41115
3ds, 3-4s _______ . . . . . . .
38
40
Income, 7s, coup., 1896 84 V! 84 V
1st Inc., 5s, 1931.......... 13 I 20
* Ex-dividend, t Per share. ¿ Last price this week.
978,100
35,000
81,000
180,000
45.000
41.000
45.000
445,700
44.600
200,800
223,200
180,000
[V ol. XLVL
140
140
140
155
110
110
115
80
80
176
225
90
90
106
150
160
145
170
120
120
120
95
100
190
240
1(j0
110
110
100
90
305
160
115
190
60
100
120
125
55
100
170
70
90
Long Island 85
Lafayette... 75
Manuf’c.<ft B 110
Mechanics’ * 70
Mercantile.. 56
Merchants’ . 70
Montank___ 80
G lo b e ..........
Greenwich..
Guardian. ..
Hamilton ..
H anover___
H om e..........
Howard . . . .
J efferson___
Kings C o....
Kniokerb’k r
125
215
60
110
125
130
60
no
200
80
100
100
85
125
80
65
80
86
National___
N. Y . Equit.
N. Y . F ir e ..
Niagara......
North River
Pet’r Cooper
People’s.......
P h e n ix .......
135
90
140
60
140
90
146
156
90
100
125
95
70
100
140
185
260
A sk
145
100
160
80
145
100
180
165
100
104
137
102
75
115
150
140
280
Standard___
Empire City
S te rlin g ___
Exchange...
Stnyvesant.
Farragut___
United St’ es
Fire Asso’n.
Westchester
Firemen’ s ... 80
Williamsh’g.
German-Am. 295
Germania... 145
Gas and City R ailroad Stocks and Bonds.
[Gas Qnotations by G e o . H. P r e n t i s s A Co., Brokers, 49 WaU Street.]
GAS COMPANIES.
Bid. Ask.
GAS COMPANIES.
Bid. Ask
63
67
102 103
118 123
55
50
106 111
100 103
80
Metropolitan (Bklyn.)__ 75
Oonsolidated G a s............. 76V 76
105 n o
160
129 132
114
105 109
89
91
100 n o
100 102
n o 1L3
95 100
100
95
Scrip........... ...................
[City RR. Quotations by H. L. Grant , Broker, 145 Broadway.]
D. D. E. B. <fc B.—torip, 6s 104 107
28
Broker si.<& Fult.F.—stk. 26
Eighth Av.—stock........... 155 160
1st mort., 7s, 1900 . . . . . 112 114
Scrip, 6s, 1914.............. 108 110
175
Sr’dway & 7th A v.—St’k ..
42d
A Gr’nd St. F’ry—Stk 200 210
102
104
1st mort., 5s, 1904 ......
1st mort., 7s, 893.......... 112 117
2d mort., 5s, 1914.......... 103 105 V
38
80 42d St. Manh. A St. N.Ave 35
B’way Surface bds...l914 75
1st mort., 6s, 1910 ........ 107 108
80
Bonds guar., 5s, 1905 ... 70
60
2d mort., income, 6s....... 55
Brooklyn City—stock___ 116 120
Joust. W.St.&P. F’ v—Stk. 155
1st mort., 5s, 1902 ........ 106 110
1st mort., 7s, 1894........ 110 ÏÏ2*‘
Sklyn. Crosstown—Stock. 160 160
103 105
Ninth A v e...................
1st mort., 7s, 18 88........ 100
Second A v.—Stock........... 111 112V
Busbw’k Av. (Bkln)—St'k 160 155
1st mort., 5s, 1 9 1 0 ........ 103 105
Central Crosstown—Stk.. 150 160
100
Oonsol., 7 s, 1888 ...........
1st mort., 6s, 1922 ____ 116 120
Sixth Av.—stock . . . . . . . 165 175
83
Cent. Pk. N.<fc E. K iv .-S ti 82
1st movx:, 7s, 1890 . . . . . . 1C6 110
Consol., 7s, 19 02........... 116 118
Ohrist’pbr&lOth St—Stk. 123 126 Third Av.—S tock.............. 215 218
Bonds, 7s, 1890........... . 103 106
Bonds, 7s, 1898 . . . . ----- 111 113
Twenty-third st>.—stock .. 215 220
Dry Dk. E.B.& Bat’v—Stk 148 152
112 114
1st ■nort., 7s, 1893 ...
1st mort., 7s, 1893........ 109 111
Unlisted Securities.—Quotations from both Exchanges:
SECURITIES.
Am. Bank Note Co...........
Atlan, A Cbar.—S tock ...
Atl. & Char. Air L., 1st, 7s
At.&Pac.-lstM.O.D.o.d 6s
Bost. H. T.& West.—Stk.
Brooklyn Elev’d—stock..
Cape Fear & Yad.Val., 1st
C h ic. & Atl.—Ben., tr. reo.
Chicago A Can. So............
Chic. Gas Trust...............
Chic. Santa Fe & Cal. 5s..
Cinn. A Springfield..........
Den. & Rio Gr. W.—St’k.
Dul. S. Shore & At.— Stk.
Pref.....................-..........
Edison Electric Light---F la.R ’y * Nav. Co.........
P ref.....................--.........
Georgia Pac.—s t o c k ......
1st 6s.............. -.......... —
2ds..........— . . . . . -------Kanawha A O h io ..........
1st pref— ....................
2d pref............................
IstBs...............................
Kan. City A Omaha..........
1st m o rt..................... .
Kecly M otor............... ......
Lehigh & Wilkes. Coal...
Wex. Nat.Constrnct’n Co.
Bid. Ask.
85
119
35
90
122
25
40
35
96
5
.......
35
36
11
10
29V
162
1
1
20 V
109
61*4
2
4
6V
14
31
2
av
22
109 V
52V
63
8
6 1*
71V 73
6V
20
15
28
26
SECURITIES.
Bid., Ask.
Mexican National tr. rec.
7*4 8V
1st mortgage, tr. r eo.... 41V 42V
New 1st 6 s ................. 86V 96 V
6
8
Newp. N. A Miss. Val---N. J. S outhern................
®4
90
N. Y. M. Un. Tel.—Stock. 85
3
2
N. Y . W. S. & Buff...........
North. Pac.—Dtv. bonds.. 102
4*«
North Riv. Cons..............
Ocean Steam.Co.,lst guar. 102 * 104
6
8
Pensacola & A tlantic....
1st mort..........................
Postal Telegraph—1st, 6s.
Pittsh. & w esiern...........
Rich. York Riv. A Ohes..
Rome & Decatur,IstM., 6s
St. Louis A Chicago---- 1st M., 6 s . . . . . . . . . ..........
St. Louis Ft. S. A W ich..
St. Paul E.& Gr. Tr., 1st 6s
Southern Tel.—1st M.......
Tol. A. A. <fc N. Mich........
U. S. Electric ijig h t......
Vicksb. A Meridian...... .
V
Pref............................ .
V
1st m o r t ...... ........ .... 95V
2d mort........................... 48
Incomes_______. . . . . . . . .
6V
97
Western Nat. Bank........ 95
West N. Car.—Con. M___ 85
THE CHRONICLE,
F e bru ary 25, 1888,]
fu tfje s tm m l
ROADS.
AND
The I nvestors ’ Supplement contains a complete exhibit of
the Funded Debt o f States and Cities and o f the Stocks and
Bonds of Railroads and other Companies. It is published
on the last Saturday o f every other month—viz., January ,
March, May, July, September and November, and is f u r
nished without extra charge to all regular subscribers o f the
C hronicle . E xtra copies are sold to subscribers o f the
C hronicle at 50 cents each, ani, to others at $1 p er copy.
RAILROAD EARNINGS.
Gross Earnings to Latest Dates.— The latest railroad earn*
ings and the totals from Jan. 1 to latest date are given below
for all the railroad companies whose reports can be ob
tained.
Latest Earnings Reported.
Week or Mo 1887-8.
$
1886-7.
Jan. 1 to Latest Date.
1887-8.
1886-7.
$
Allegheny V a l.. December. 179,048 156,799 2,029,108 1,812,729
Atch. T. & 8. Fe. November, 1,657,078 1,710,355 16,965,412 14,459,378
Atlanta & Char. December. 120,628 104,411 1,319,377 1,158.504
41,544
41,544
37,882
37,882
Atlanta & W. Pt.. January...
44,769
321,355
52,685
297,102
Atlantic & P a c.. 2dw k Feb
122,498
107,127
Balt. & Potomac January... 122,498 107,127
786,823
97,352
58,789
609,096
Beech Creek__ December
32,932
217,194
36,187
189,310
Buffi Roch.& Pitt 2d wk Feb
316,919
47,470
49,783
Bur. C.Rap. & No. 2d wk Feb
315,907
81,133
12,646
13,527
Cairo V. & Chic. 2d wk Feb
82,428
235,966
49,791
Cal. Southern... 2d wk Feb
678,644
33,724
29,597
December
599,091
ICamden & Atl’c
898,493
Canadian Pacific 2d wk Feb 188,000 139,000 1,194,000
27,253
20,713
27,253
Cp.F’r &Yad.Val January...
20,713
48,695
46,219
Carolina Cent... December.
906,246
Central of Ga... 2d wk Feb 118,903 103,752
723,658
99,745
99,745 109,446
Central Iow a— January...
109,446
Central of N. J .. December. 974,880 995,925 11,528,588 10,742,892
Central Pacific . November. 1,307,442 964,132 12,498,085 10,904,835
7,672
8,937
Central of S. C. December.
495,762
49,814
49,557
Charlest’n &Sav December.
482.895
654,932
50,841
49.155
630,703
Cheshire______ December.
8,761
6,681
Cheraw & Dari. December.
Chesap. & Ohio. November. 393,171 358,551 4,080,399 3,755,867
99,321
80,846 1,115,073
Eliz.Lex.&B.S. December.
937,528
160,759
Ches. O. & S.W .. January... 160,759 145,600
145,600
5,414
6,808
Ches. & Lenoir.. December.
209, 751
38,957
33,873
Chic. & Atlantic 2d wk Feb
216,468
Chic. Burl. &No. December. 141,998 149,296 2,276. 198
Chic. Burl. & Q .. December. 2,163,388 2,368,432 27,576; 078 26,,7281408
277, 262
Chic. & East. 111. 3dw k Feb
33,260
41,560
258,878
76, 693
Chic. & Ind. Coal 2d wk Feb
49,061
14,171
21,671
Chic. Mil. & St.P. 3d wk Feb 382,000 368,134 2,553, 000
,544,291
,723,173
Chic. & N’thw’n. January... 1,571,289 1,723,173 1,571, 289
Chic. & Oh. Riv. January..
6,631
3,274
6,631
3, 274
452, 716
Chic. St.L.&Pitts January... 452,716 446,385
446,385
121 , 862
Chic. St.P. &K.C. January... 121,862
82,045
82,045
Chic. St.P.M.&O. December. 599,410 563,499 6,943, 428
,153,266
Chic. & W. Mich. 2d wk Feb
129,170
125, 222
21,634
20,717
dfi.Ind.St.L.&C. January... 203,392 216,168
203. 392
216,168
Cin. Jack. &Mac. 2d wk Feb
40,876
48, 923
6,350
7,767
can. N. O. &T. P. 2d wk Feb
384,464
400, 370
62,783
60,505
Ala. Gt. South. 2dw k Feb
196, 669
29,342
30,764
187,798
N. Orl. & N .E . 2d wk Feb
92,603
20,160
12,282
108, 580
Vicksb. & Mer. 2d wk Feb
66 ,098
10,631
10,442
74,778
Vicks. Sh. & P. 2d wk Feb
10,609
9,744
82,855
6 8 , 215
Erlanger Syst 2d wk Feb 131,247 126,015
822,498
839, 932
Cin. Rich. &Ft. W. 2d wk Feb
8,521
39,843
44, 427
6,141
Cin. Sel. &Mob.. January...
9,747
10,297
9 747
10,297
Cin. & Spring’d. January...
85,610
85,239
85,610
85, 239
Cin.Wash.&Balt. 2d wk Feb
38,921
256,582
252, 550
35,834
Clev. Akron &Col 1st wk Feb
45,309
52, 916
9,980
8,549
Clev. & Canton December.
28,804
356,916
373, 965
29,197
Clev. Col. C.& Ind January... 313,436 298,349
298.349
313, 436
Clev. & Marietta 2d wk Feb
36,712
5,560
36, 163
7,068
Cœur d’Alene... December
16,181
Col. & Cin. Mid . 2d wk Feb
41,345
6,139
5,277
34,730
Col.Hock.V. <feT. 2d wk Feb
328.202
298,973
48,097
46,831
Denv. & Rio Gr 3d wk Feb 130,500 134,800
942,270
989,400
Denv. & R. G. W. 2d wk Feb
21,200
101,909
15,775
125,075
Den. Tex.&Gulf. January...
13,890
22,871
13,890
22,871
Det.BayC.&Alp. January...
24,396
27,500
24,396
27,500
Det.Lans’g& No. 2d wk Feb
100,492
14,145
89,462
14,538
Duluth S.S.&Atl. 2d wk Feb
71,321
15,091
15,358
109,747
E.Tenn. Va. &Ga. 2d wk Feb 110.502 101,939
621,113
701,936
Evans. & Ipd’plis 3d wk Feb
31,937
4,700
4,570
29,305
Evansv. & T. H. 3d wk Feb
97,574
112,056
17.000
14,400
Flint & P. Marq. 2d wk Feb
252,721
280,392
41,406
38,749
Fla. R.&Nav.Co. 1st wk Feb
112,646
22,424
23,592
118,804
Ft. W. & Den. City 2d wk Feb
17.000
9,980
56,756
100,215
Georgia Pacific. 2d wk Feb
138.030
167,954
22,625
29,729
Gr. Rap. &Ind... 2d wk Feb
214,848
36,649
217,584
34,352
Other lin es.... 2d wk Feb
10,716
3,045
19,062
1,554
Grand Trunk... W k.Feb.ll 259,613 310,045 1,581,251 1,717,947
Gn.Bay W.&St.P December
446,852
25.885
Hous.&Tex.Cen. 2 wks Feb
318,124
99,540
87,679
277,930
Humest’n &Shen December
16,564
17,420
160,852
161,761
IU.Cen. (Ill.&So) January... 888,900 959,948
959,948
888,900
Cedar F.& Mm.:December
168,851
116,592
9,725
9,720
Dub. & Sioux C.|December.
947,808
79,230
846,406
81.155
la. Falls &S'. C. December.
636.647
77,924
703,449
60,398
Ind. Bloom. & W. 4th wk Jan
202,600
187,365
58,962
52,042
Ind. Dec. & Spr. January.
42,487
28,471
28,471
42,487
Ind. &'St. Louis 2d wk Feb
235,114
33,415
232,288
40,210
Jack. T. & K. W. November.
252,459
402,173
38,624
35,492
K.C,Ft.S. & Gulf. 1st wkFeb
263,358
236,612
40,712
43,692
Kan. G. Sp. &M. 1st wk Feb
199,387
174,242
31,954
32,152
Kan. C. Cl. & Sp 1st wk Feb
19,182
24,000
5,334
3,734
Kentucky Cent. December.
920,697
81,137
71,461 1,067,468,
Keokuk & West. 2d wk Feb
36,643
42,254
6.049
6,627
Kingst’n & Pern. 2d wk Feb
9,837
3,423
15,818
1,663
Latest Lamings Reported.
Week or Mo 1887-8.
$
R a i l r o a d Itttjclligiettc«.
roads.
251
Jan. 1 to Latest Date.
1886-7.
1887-8.
$
$
1886-7.
Knoxv. & Ohio . December.
39.890
34.838
Lake E. & West. 2d wk Feb
33,971
33,902
212.322
212.089
Lehigh & H ud... January..
20,912
17,068
20,912
17,068
L. Rock <feMem. 2d wk Feb
18,393
15,508
98.167
118.261
Long Island....... 3d wk Feb
49.486
46.117
316.055
287,023
Lou. & Mo. Riv.. November.
50,267
52,472
550,638
507,261
Louis.Ev. &St.L. 2d wk Feb
17,440
15,779
115.314
97,253
Louis v. & Nashv. 2d wk Feb 303,495 301,840 1,895,215 L,812,138
Lou.N. A. & Chic. 2d wk Feb
36,195
34.105
205.568
204,082
Louisv. N.O. &T. 2d wk Feb
59,517
42,743
340.511
304.078
Lykens Valley.. January...
99,342
46,924
99.342
46,924
Mar. Col. & No.. December.
6,773
4,613
64.342
Mar.Hough. & O 3d wk Jan
5,260
8,317
24,757
15,721
Memphis &Chas 2d wk Feb
37,840
32,606
236,820
226,128
*Mexican Cent . 2d wk Feb 117,500 100,149
733.600
605.621
*Mex. N. (all Ins) January... 147,960 140,991
147,960
140.991
Mil.L.Sh.&West. 3d wk Feb
39,765
37,616
240,863
257,456
Milwaukee & No, 2d wk Feb
14,695
15,808
94,070
95.500
Minneap. & St. L January.
81,000 117,845
81,000
117,845
Min.St.Ste.M &A December.
23,933
15,690
190,478
92,709
Mobile & Ohio i . January... 202,118 236,015
202,118
236.015
Nash. Ch. &St.L. January... 270.806 242,094
270,806
242,094
Natchez Jac.&C January...
15,641
15,255
15,255
15,641
New Brunswick. December.
64,164
65,568
816,443
805.067
N.Y. Cen. & H .R January.
,716,704 2,714,710 2,716,704 _ ,714,710
cN.Y. L. E. & W December. ,029,935 L,985,149 24,464,236 23 ,002,509
N.Y. & New Eng, December. 425,857 386,277 4,446,905
,169,202
23,682
N.Y. Ont. & W ... 2d wk Feb
19,711
149,232
128,988
N.Y. Sus. & W ... January.
119,52
84,596
119,527
84,596
Norfolk & West. 3d wk Feb
81,052
69,715
581,005
467.016
N’theastm (S.C.) December
49,991
50,989
550,949
544,777
Northern Cent’l December
490,286 457,809 6,212.927
,474,618
Northern Pacific 3d wk Feb 254,319 136,485 1,265,062
948.017
Ohio & Miss....... 2d wk Feb
78,036
86,679
442,291
457.281
Ohio R iv e r ...... 2d wk Feb
6,618
3,557
40,771
25.518
Ohio Southern. January...
59,186
53,476
59,186
53,476
Oregon Imp. Co December. 371,205 264,470 4,167,707
,999,483
Oreg. R. &N. Co. December. 539,849 403,152 5,376,258 _ ,344,962
Pennsylvania... December. 892,954 1,428,216 55,671,303 50 ,379,068
Penn. Company.
No. West. sys.. December. 1,585,696 .,350,956 18,532,322 15,469,215
So. West. sys.. December. 1,287,937 .,166,064 14,362,552 12,002,449
14,40»
13,700
PeoriaDec.&Ev. 3d wk Feb
31,404
Petersburg....... November.
28,300
326,276
326,177
Phila. &Erie ... December. 328,637 301,174 4,036,931 3,708.484
tPhila. & Read’g. December. 1,715,656 .,576,714 21,903,073 19,766,815
Coal & Iron Co. December. 1,573,422 .,342,525 19,656,701 15,843,679
Tot. both Co’s.. December. 3,289,078 ¡,919,238 41,559,777 35,610,494
30.499
29,226
Pitts. & West’m . 2d wk Feb
172,986
214,105
22,510
27,544
P’rtRoyal &Aug. December.
320,404
305,675
36,723
27,366
Pt. R’al& W.Car. December.
R&W.P.Ter. C o 614,484
Rich. & Danv. 2d wk Feb 113,950 104,125
548,839
27,250
189,807
31,575
163,131
Va. Mid. D iv.. 2d wk Feb
24,650
21,800
131,507
111,076
C. C. & A. Div. 2d wk Feb
22,200
100,264
20,700
84,283
Col. & Gr. Div. 2d wk Feb
82,849
15.500
17.200
West. N. C. Div 2d wk Feb
77,424
1,825
11,535
1.335
11,062
W. O. & W.Div. 2d wk Feb
12,324
850
2,050
4,540
Ash. & Sp. Div. 2d wk Feb
997,340
Total a ll---- 2d wk Feb 213,450 191,560 1,134.571
20,175
210,584
17,332
193,452
Rich.& Petersbg. November.
Rome W. & O g .. December. 263.806 233,294 3,215,600 2,878,675
40,210
232,288
33,415
235,114
TfSt.L.Alt. &T.H. 2d wk Feb
19,590
114,876
18,?>57
108,153
Branches........ 2d wk Feb
41,159
320,311
54,028
248.342
St.L. Ark. & Tex. 2d wk Feb
94.200
656,996
97,708
655,965
St.L. & San Fran. 3d wk Feb
19,659
125,854
18,075
St.Paul &Duluth 3d wk Feb
157,834
St.P.Min. &Man. January... 482,421 459,251
482,421
459,251
17,820
2d
wk
Jan
S.Ant.&Ar.Pass.
34,781
789,124
62,901
61,037
684,376
Scioto Valley— December.
67.486
54,693
Seab’rd & Roan. December.
50,000
50,000
Shenandoah Val January...
57,288
57,288
South Carolina.. December. 122,898
97,949 1,217,392 1,120,060
So. Pacific Co.—
Gal.Har.&S.A. December. 314,878 246.670 3,347.184 2,599,463
843,794
77,846
66,061
644,688
Louis’a West.. December.
Morgan’s L&T. December. 620,732 484,833 4,684,259 4,185,437
170,526
158,858
15,536
14,073
N .Y.T. &Mex. December.
998,169
Tex. &N. Orl.. December. 119,126 102,154 1,267,563
Atlan’c system December. 1,148,119 913,792 10,313,408 8,586,617
Pacific system December. 2,402,977 1,990,754 27,055,799 23,523,541
Total of a ll.. December. 3,551,096 2,904,546 37,369,205 32,110,158
So. Pac. R R 501,638
No. Div. (Cal.) November. 142 ,765 166,217 1,590, 163
,985,881
So. Div. (Cal.) November. 465 ,903 342,848 3,885, 483
1,521,
815
134,348
,176
395,676
169
November.
Arizona D iv ..
635, ,799
607,983
55,900
59; ,202 !
New Mex. Div November.
77,
,954
81,793
8,177
s: ,191'
Spar. Un. &Col. December.
42, ,883
42,,883
40,628
40,628
Staten Is.Rap.Tr January...
86,311
156, 973
86,311,
Summit Branch January... 156. ,973
785. 794
755.088
Texas & Pacific. 2d wk Feb l i a i ,130 127,186
7,870
9,,340
52,178
68 , 084
Tol. A. A.& N.M’h 2d wk Feb
19,363
127,131
156, ,221
25, 562
Tol. & Ohio Cent. 2d wk Feb
104, ,854
14,581
105,464
15,,469
Tol. P. & W est.. 2d wk Feb
Union Pacific... December. 2,243,,872 ,343,543 28,557, ,766 26 ,280,186
601, ,160
56,,793
61,106
570,977
Valley of Ohio.. November.
600,666
78,,070 105.670
578, ,185
Wab. Western... 2d wk Feb
,791.215
Wab., E. of Miss December. 546, ,796 589,546 6,901, ,587
49, ,440
45,474
45,474
49, ,440
Western of Ala.. Ianuary. .
272,609
317, ,700
50,,300
38,400
WestN. Y .& P a . 2d wk Feb
,897
1,469,
,215
,352,458
98,
December.
83,569
{West Jersey__
62,989
677,667
747, ,057
68,,833
Wil. Col. & Aug December
121 ,,594
92,158
18,,033
13,295
Wheeling & L. E. 3dw k Feb
46,652
307,973
56 ,849
338. ,080
«Wisconsin Cen. 2d wk Feb
l And branches.
* Mexican currency.
c After deducting earnings paid over to leased roads operated on a per
centage basis.
tNot including Central of N. J. in either year.
If Including Ind. & St. Louis.
a All lines included.
Latest Gross Earnings by Weeks.—The latest weekly
earnings in the foregoing table are separately summed up
below.
There is no change in the character of the reports of earn
ings. For the second week of February our statement n o w
covers 76 roads and the increase over last year is 5 38 per
cant.
Twenty-one roads of the seventy-six show a de-*
crease.
TH E CH RONICLE
252
2d week o f February.
1888.
1887.
Increase.
Decrease.
9
9
$
121,004
PrevTy report’d (16 roads) 1,139,900 1,045,254
7,916
44,769
52,685
Atlantic <fe. Pacific............
3,255
32,932
36,187
Buffalo Koch. & Pittsburg.
2,313
47,470
49,783
Bun. Cedar R. & N orth...
881
12,646
13,527
Cairo Vin. & Chic............
49,000
139,000
188,000
Canadian Pacific..........
103,752
15,151
118,903
Central o f Georgia..........
38,957]
33,873
Chicago <fcAtlantic . . . . . . .
7,500
14,171
21,671
Chicago <fc Ind. Coal........
21,634
20,717
Chic. & West Michigan ..
1,417
6,350
7,767
Cincinnati Jack. & Mack
62,783
60,505
Cin. N. O. & Texas P ac...
30,764
29,342
Alabama Gt. Southern
12,282
7,878
20,160
New Orleans & N. E —
10,442
189
10,631
Vicksburg & Meridian..
,9,744
865
10,609
Vicksburg Shrev. <&Pac.
2,380
6,141
8,521
Cin. Rich. & P. W ...........
35,834
3,087
38,921
Cin. Wash. &. Balt...........
.... ....
7,068
5,560
Cleveland & Marietta.......
6,139
5,277
Col. & Cm. Midland........
5,425
15,775
- 21,200
Denver <fcR. Grande West.
393
14,145
14,538
Detroit Lans. & North—
267
15,091
15,358
Duluth S. S. & Atlantic...
8,563
101,939
110,502
East Tenn. Va. & Ga........
2,657
38,749
41,406
Flint & Pere Marquette..
7,020
9,980
17,000
Fort Worth & Denv. City.
7,104
22,625
29,729
Georgia Pacific............... .
2,297
34,352
36,649
Grand Rapids & Indiana.
1,491
1,554
3,045
Other lines..... ...............
........
310,045
259,613
t Grand Trunk of Canada
.
.
. . ___
54,356
46,464
Houston & Texas Cent...
578
6,049
6,627
Keokuk & Western .........
1,760
1,663
3,423
Kingston & Pembroke...
69
33.902
33.971
Lake Erie & W estern,...
18.393
15,508
Little Rock & Memphis..
1,661
15,779
17,440
Louisv. Evansv. & St. L.
1,655
301,840
303,495
Louisville <feNashville...
2,090
34,105
.
36,195
16,774
42,743
59,517
Louisville N. O. & Texas
5,234
32,606
37,840
Memphis & Charleston..
17,351
100,149
117,500
Mexican Central.............
15,808
14,695
Milwaukee <fc Northern..
3,971
19,711
23,682
New York Ont. & West..
86,679
7 « Oäß
Ohio <feMississippi—
3,061
3|557
6,618
Ohio River...............
30,499
29,226
Pittsburg <fc Western..
9,825
104,125
113,950
Richmond & Danville
4,325
27,250
31,575
Virginia Mid. D iv...
2,850
21,800
24,650
Char. C. & A. D iv...
1,500
20,700
22,200
Ool. & Gr. D iv.........
1,700
15,500
17,200
490,
1,335
1,825
Wash. O. <feW. D iv .....
1,200
850
2,050
Ash. «fe Spar. Div. .....
............
40,210
e
33,415
*St. L. Alt.& T. H., M. Lii
1,033
18,557
19.59C
8t. L. Alt. «fe T. H. Brchs
12,869
41,159
54,028
St. Louis Ark. <fc Texas.
...........
19,659
17,415
St. Paul <fcDuluth..........
112 1
127,18€
Texas <&Pacific.............
888
14,581
15,461
Tol. Peoria <&Western..
..........
7ft
07Í
105,67< i
Wabash Western.......... 10,197
46,655S|
s)
56,841
..
Total (76 roads).
Net increase i5-38 p. c.)..
3,852,27*) 3,655,46()
359,134
196,819
9
26,358
5,084
" '9 1 7
2,278
1,422
1,508
862
50,432
7,892
2,885
1,113
93
1,273
-Jan. 1 to Dee. 31.- December.1886.
1886.
1887.
1887.
$
$
Roads.
$
$
99,321
80,846 1,115,073
937,528 :
Eliz. Lex. <fe Big S’y.Gross.
327,621
30,302
30,849
408,855
Net...
92,700 v
190.478
15,690
23,933
Minneap. S. S. <&Atl.Gross.
49,094
42,17*.
7,062
3,436
Net...
M o n th a n d F i s c a l jl ear.
—Ftb. 1 to Jan. 31—
----- January.-----1887-8.
1886-7.
1888.
1887.
9
9
$
$
427,227
765,900
63,300
64,500
Tenn. Coal <fe Iron Co.Net...
.Net...
,—July
1
to
Jan.
31.—%
— — J(iwii ary . — —\
1886-7.
1887-8.
1887.
1888.
9
Road.
9
9
9
1,615,16*
.Gross. 203.392M 216,168 1,610,419
642,698
605,377
70,773
87,801
Net...
,------January.------> ,— Sept. 1 to Jan. 31.—%
1886-7.
1887-8.
1888.
1887.
Road.
$
9
9
9
.Gross. 668,998 522,091 3,789,851 3,248,826
Net... 234,059 147,534 1,679,760 1,418,975»
,-------January.------ « /—Oct. 1 to Jan. 31.—>
1886-7.
1887.
1887-8.
1888.
9
Road.
9
9
■9
Co —
.Gross ' 389.759 341,039 1,798,188 1,565,295
768,49*
915,990
Net... 178,633 167,794
510,182
558,065
125,832 110,281
.Gross
172,286
226,028
42,984
36,185
Net..
313,01*
372,995
68,576
84,257
.Gross.
162,182.
203,755
41,522
36,176
Net...
240.736257,683
44,383
57,864
.Gross.
Col. <fc Green.
108,224
116,342
15,333
Net...
28,977
193,148
216,054
49,949
50,674
.Gross.
30,19*
31,703
11,582
4,891
Net...
36,837
37,578
7,527
7,010
.Gross.
12,8482,683
2,333
Net.. def. 1,914
. Gross.B (715,396 621,755 3,240,563 2,859,212:
Net... fe». 295,092 269,403 1,496,502 1,254,226t,----- Decern ber.------- > /—Feb. 1 to Dec. 31.-%
1886.
1887.
1886.
1887.
9
9
9
9
Road.
1,659,494
1,899.314
162,390
161,879
Gross
389,867T
771,680
57,589
34,291
Net..
ANNUAL REPORTS.
6,795
2,247
15,056
27,600
162,315
* Including Indianapolis <&St. Louis,
i For the week ending February 11.
For the third week we have the returns of thirteen roads,
•with a gain of 15 53 per cent. Thi3 large percentage of gain
is in great measure due to the exceptionally heavy increase on
the Northern Pacific.
3d week of F. bruary.
Chicago & East. Ills........
Chicago Mil. <fe St. Paul...
Denver <fc Rio Grande . . . .
Evansville <& Indianap...
Evansville <feT. H ............
Long Island......................
Milwaukee L. Sh. <&West.
Norfolk <&Western...........
Northern Pacific----- . . . . .
Peoria Dec. <fe Evans.......
Bt. Louis <&San Fran.......
St. Paul «feDuluth.............
Wheeling <fc Lake Erie—
Total (13 roads)............
Net increase (15'58 p. c.)
1888.
1887.
9
41.560
382,000
130,500
4,700
17,000
49,486
39,765
81,052
254,319
13,700
94,200
18,075
18,033
9
33,260
368,134
134,800
4,570
14,400
46,117
37,616
69,715
136,485
14,400
97,708
19,659
13,295
L,144,390
990,159
Increase.
9
8,300
13,866
130
2,600
3,369
2,149
11,337
[117,834
.......
4,738
164,323
154,231
Decrease.
9
4,300
700
3,508
1,584
10,092
Net Earnings Monthly to Latest Dates.—The tables follow ,
ing show the latest net earnings reported this week, the
returns for each road being published here as soon as received,
but not kept standing from week to week. The first state
ment includes all roads for the latest month and from Janu
ary 1, 1888; following that we give the totals for the fiscal
year on those companies whose fiscal year does not correspond
with the calendar year.
M o n th a n d Calendar Y e a r .
,------ January.----- ><—Jan. 1 to Jan. 31.—.
1887.
1888.
1888.
1887.
9
9
Roads.
9
9
122,498
107,127
B lit. & Potomac__ ..Gross. 122,498 107,127
30,981
47,948
47,948
30.981
Net...
24,545
29,200
29,200
24,548
Keokuk & Western.,..Gross.
8,783
7,827
7,827
Net...
8,783
86,311
156,973
156,973
86,311
..Gross.
• Summit Branch ..
30,951 def. 1.594
20,951 def. 1,594
Net...
46,924
99,342
99,342
46,924
Lykens V alley.. . . ..Gross.
«»
Net... def. 7,864 df. 15,233 def. 7,864 d i 15,233
oovers only coal and mining operations.
[Y ol .?X L V I.
Cincinnati New Orleans & Texas Pacific Railway Co..
Lessee of the Cincinnati Southern Railway.
(For the year ending December 81,1887.,)
The annual report of Mr. Charles Schiff, President, shows»
that “ the total amount expended for rolling stock, equipment,
and other property owned by this company up to Dec. 31,1887, as shown by the books, was $2,199,801. In comparison
with the preceding year, the gross earnings show an increase^
of $495 380, or 17'19 per cent. The operating expenses show
an increase of $280,693, or 16 per cent. The net earnings»
show an increase of $214,686, or 19-03 per cent. There were
moved during the year 1,421,341 tons of eustom freight,,
against 1,169,609 tons the preceding year, an increase o f
251 732 tor s, or 21’52 per cent. The revenue per ton of fr ight
transported was $1 72, against $1 79 the preceding year, a de
crease of $0 07 per ton, or 3 91 per cent.”
*
*
*
*'
“ After providing for the expenses of maintenance for opera
tion, for taxes and for rental, the surplus revenue was $348,765 against which there has bet n charged and credited to a
reserve or sinking fund the sum of $63,766, for the redemp
tion of capital expenditures, additions and improvements to»
the leased property. The capital expenditures of the com
pany for the year were : For roadway and structures (im
provements and additions that will revert to the city on ex
piration of the lease), $152,116. Ti e expenditures chargeable
against capital at the close of the year aggregate $3,668,791 p
the amount of capital stock is $3,000,000, showing that the
expenditures have been $668,791 in excess of capital actually
paid in. There has been transferred from net revenue to re
serve or sinking fund during the past six years $287,367, and
there is a balance now remaining of $509,197 standing to the
credit of net revenue account. Treating the expenditure ir*.
excess of capital, as compensated by these two balances, therewill still remain to the credit of net revenue account the sum
of $127,773, which is a more correct statement of the net
revenue account at Dec. 31, 1887. Your directors were in
hopes that with these satisfactory results for the year’s work
ing they would have been enabled to recommend the declara
tion of a dividend, but in view of thtl necessity of providing
for the erection of new shops and foi /coDsiderable additional
rolling stock to keep up with the increase ot traffic, and irfc
consequence of the losses caused by the accident of Dec 31,
they deem it more advisable and in the interest of the company that no dividend should be declared for the year 1887,,r
1 The earnings and expenses c f the company h ive been a *
follows for four years past:
Mail service.......
Express service.
Miscellaneous
Working expenses.
Net earnings.....
1884.
$654,197
1,855,856
50.991
48,712
48,428
1885
$662,971
1,875,782
56,66 L
49,519
36.613
1886.
$f 26.463
2,130,76 i
56,904
43,655
24.383
1887.
$740,617
2,1 93 ,0 4 *
63,694
5*,?3L
2 4 ,6 7 *
$2,658,184 $2,681,546 $2,882,172 $ 3 ,3 7 7 /5 2 ;
2,U34.572f
1,753,8/9
1,616,735
1,754,174
$904,010 $1,064,811 $1,128,292 $1,342,980
Deduct—
T o r taxes........
{•For rental..................
Total
23urplus revenue.......
1884.
$8 2,800
812,000
1885.
$43,800
812,000
1838.
$73,700
834,043
1387.
$32,214
912,000
$894,800
$905,800
$913,743
$994,214
$9,210
$159,011
$214,549
$348,766
The percentage of operating expenses in 1887 was 60 24; in
1886 was 60*86; in 1885 was 60'29; in 1834 was 66 per cent.
31.
18S6.
1837.
Dr.
1885.
{Purchase of rolling stock, tools,
$1,865,774
$1,865,774
Ac., Oct. 12, 1881. as per lease.. $1,865,774
Betterments, additions, Ac., s’nce
1,650,901
1,803,018
Oct. 12, 1881...........
1,438.905
145,675
106,197
97,246
Materials, &c , on haict..................
152,148
179,819
O tlier railroads.................................
218,350
2,673
Bills receivable.................................
205.684
142,447
28,011
-«Cash in hand and in banks........ .
59,282
308,400
264,588
^Sundry items..................................
247,323
BALANCE SHEET DECEMBER
$4,132,563 $4,070,295 $4,445,133
18S6.
1887.
Cr.
1885.
»Capital stock................
$3,000,000 $3,000,000 $3,000,000
223,602
287,367
Reserve for sinking fun d...............
167,323
45,621
59,655
{Replacement of ro'l. stock fun d..
33,647
210,528
206,513
Supplies, Ac., Are3’v** fortaxes, &c.
287,245
88,746
108,059
98,855
■Creditors on pty-rolls.....................
76,568
73,308
Other railro »ds......................... ........
100,580
201,032
201,033
•Cln.So. R R rent aecr’d but not due.
378,989
224,198
65,926
509,198
{Net re venue account.......................
Total.
Total
$4,132,568 $4,070,295 $4,445,133
Bela ware Lickawanna & Western Railroad.
( For the year ending December 31, 1887.^
The annual report of this company consists of a brief in
co m e account and balance sheet, issued without remarks, and
the statements of four years have been compiled for the
-C hronicle as b elow :
EARNINGS AND EXPENSES.
1834.
1335.
1836.
1837.
$
$
$
$
■<3tross ree’ ts all sources. 31,311,992 31,091,677 32,312,865 39.845,857
Operating expenses .. . 23,008,147 23,220,572 24,954,433 30,694.000
Betterm’ ts, equip., &c..
383,033
443,182
164,029
810,061
Total expenses....... 23,393,180 23,663,754 2-5,118,462 31,504,061
{Net receipts................... 7,918,312 7,427,923 7,224,403 8,341,796
INCOME ACCOUNT.
1884.
Net receipts................... 7,918,813
Interest and rentals___ 5,113,322
1885.
7,4 27,423
5,187,089
1886.
1887.
7,224,403 8,341,796
5,186,711 5,203 419
Balance, surplus............ 2,805,490
D ivid end s....................» 2,696,000
Bate of dividends........
8
2,240,834
1,96 >,000
7%
2,037,692
1,834,000
7
Balance after divid’ds..
25a
THE CHRONICLE.
"Fe b r u a r y 25, 1SS8.J
709,490
275,834
3,138,377
1,831,000
7
203,692 1,304,377
The report shows that 11 *97 per cent was earned on the stock
in 1887, against 7’77 per cent in 1886.
^
GENERAL BALANCE AT CLOSE OF EACH FISCAL TE AR .
Assets—
1834.
1885.
1886.
1887.
B R ., buildings,equip $
$
$
$
m’t.ooallands,&c.. 34,250,418 34.508,047 34,496,431 34,669,226
sStksAbds. own’d,cost 5,449,713
5,374,918 4,770,654
5,735,779
Net cash & cur. aco’ ts
*527,121
*357,562
*897.331 *1,037,985
.Materials, fuel, A c... 1,049,712
941,372
1,221,174
1,246,976
T o t a l....'.............
Liabilities—
KStook..........................
Funded debt........ .
Surplus accou nt.......
41,276,965 41,181,899 41,385,590 42,639,966
“Total liabilities........
41,276,965 41,181,899 41,385,590 42,689,966
o
o
o
o
o
e®
so
c*
26,200,000
26,200,000 26,200,000
4,044,900 3,674,00 ) 3,674,000
3.674,000
11,032,065 11,307,899 11,511,590 12,815,966
* Net balance between liabilities and assets.
Tbe statement of item? on either side of the account which
go to make up the above net balance of $1.037,935 in 1887 are
as follows, compared with similar items in 1836 :
Accounts receivable, as follow s:
1886.
«Cash on hand................................................ $693,904
Coal on band (less thaD market value).. ..
690,766
Advances to leased roads..................... .
1,606,035
Advances on coal to be delivered, &c....... 1,113,107
•Coal bills and sundry accounts due.......... 1,721,562
Assets of New York Lack. & West. B R __
741.500
Loans aud sundry accounts receivable
937,467
1837.
$1,084,082
470,868
2,165,838
1,224,654
2,159,547
Total........... ......................................... $7,504,341
Less accounts payable, viz:
Past due dividends, interesr. and recta’ s.. $175.371
Del. L. & W. div. pay. Jan. 20,’87 and ’88.
458,501
Rentals payable after January 1 .............. 1,724,154
i-tate taxes payable after January 1 ........
381,756
December pay rolls, payable iu January .
577,331
Bonds and mortgages........ .........................
8 0,436
Touchers due and payable after Jan. 1 ...
7.0.869
.Sundry accounts payabe after Jan. 1.......
755,400
.Sundry obligations, account of transp’n ..
953,193
$7,892,389
Total............................. ......................... $6,€07,010
{Balance, accounts teceivable.....................
$397,331
Lehigh Coal & Navigation Company.
( For the year ending December 31,1887J
787,400
$172,036
458 501
1,725,404
503.548
78 4,191
8 ’.5,436
1,592 570
550,000
242,718
$6.854,404
$1,037,985
the largest gain being from the transportation o f coa l; but
the freight and express earnings also show handsome gains,
and are considerably larger than ever before. Tl^e revenue
from the transportation of passengers an i mails has fallen off,,
which is due to the fact that by the expiration of our tig h t’
to operate the roads runniag into S canton we have been de-;'
prived of the large local passenger business that we have here
tofore done in the W yoming region. W e may hope this year 1
to regain the most of this loss, a3 upon the completion of th e.
Wilkesbarre & Scranton Railway we shall be in a position t o 1
resume the transportation of passengers to Scranton, The ?
chief item o f gain made in our freight business is from the
carrying of bituminous coal, a large and increasing amount
of which now passe* over our road from the Beech Creek cia l
region; the gain from this source more than compensating,
for the loss o f transportation on crude petroleum, which our
principal shipper, the Tide-Water Pipe Line Company, made>
arrangements during the year to carry to tide-water at New'/
York by means of pipes. The total anthracite tonnage ,tr„aji3ported over the road shows a considerable falling .of?» whiqb)
was due to the loss of tonnage from the Lehigh region, conse
quent upon the cessation of work at the miaes in that region,
on the 10th of September. The tonnage from the Wyoming
region shows a large increase, but not sufficient to counter
balance entirely the loss from the Lehigh region”
Comparative statistics for three years are as follows :
Receipts—
1885.
1886.
1887;
Prom railroads and Nesque. Tunnel. $1,459,035 $1,464,381 $1,533,184
Lehigh Canal, inch water powers......
65,971
50,220
33,562
Delaware Division Canal.....................
11,038 def. 1,995
16,686
Net profit on Lehigh Coal....................
396,103
135,104
148,452
Royalty on coal mined by lessees,
revenue from rents, &c., A c.............
52,524
80,797
71,303
$1,984,676 $1,728,507 $1,803,136
Total receipts.
Disbursements—
$59,454
$58,948
$63,318
General and legal expenses...............
73,031
75.526
75,6*9
Rent and taxesNesquebonlng Val. RR
61,965
39,581
Re at and taxes Delaware Div. Canal
39,509
89,739
80,039
85,574
Taxes............... ........ { . . . . ....................
844,692
86Ÿ;420
844,488
interest account..........................
Total disbursements ..................... $1,119,027 $1,108,436 $1,131,510
Balance of earnings......... .................. . $365,649 $620,021 $671,676
$89,419
$61,597
$93,558
Less sink. fd. of 10 p. o. p. ton on coal
98,009
86,869
Less depreo’n on coal, impr’ v’m’ts, Ac.
Total............................... ................
Surplus for year.......................... . . . . .
Baiacce to credit of div’d fd. Jau. ! . .
T o t a l.........
Dividends............
Bate of dividend.
Balance to credit of div’d fund Dec.31
$180,427
$685,222
679,936
$89,419
$530,602
683,843
$159,606
$512,070
644,037
$1,365,158 $1,211,145 $1,156,107
509,362
681,315
570,408
4
4^
6
$683,843
$644,037
$646,745
Consolidation Coal Company.
( For the year ending December 31, 1887.,/
The report of Mr. Mayer, the President, says that the coal
mined and delivered from the Consolidation Coal Company’s
mines in 1886 was 675,652 tons and in 1837 936,799 ton?. “ The
steam coal trade of the Atlantic seaboard has been in a
healthier condition in 1887 than for several years past. aDd it
■is hoped this condition will be maintained for 1883.” * * *
“ The mines of the company are now capable of a daily out
put of 4,000 tons—this has in the past year, under pressure,
be°n carried up to 4,500 tons per day.” *
*■ *
*
*
“ In ev jry department the property of the company 1$
capable of doing the business of the approaching season in
the most efficient manner.”
The gross receipts from mines, railroads, rents, Ac. (includ
ing value of stock of coal on baud) were....... ........ ......... $2,373,085
Total expenses of every kind (exclusive of interest and sink
ing fund), including 400 tons of heavy steel rails and all
extraordinary outlays................ .................. ............ ......... 1,949,253
Net receipts........ ............................f ......................................
Interest on funded debt and sinking fund...............................
$423,829
162,138
Leaving balance to the credit of profit and loss from the
business of 1887........................................................................ $261,690
From which deduct—
Dividend for tbe year 1887, pavable Jan. 31,1888 $153,750
Amount carried to tbe credit of “ Royalty Fund” ..
47 517
Amount for new coal shipping pier, Ac., at B iltimore.............. ..................... ...................... .
30,.00Q— 231>2<57
Balance for the year.............................. ..............................
$30,423
American Coal Company.
( For the year ending December 81, 1887.^
The annual statement gives these figures:
Received for coal sold, rents, interest, A c ...................................$639,986
Value of coa . on hand......................................................................
12,250
$652,237
Mining, transportation and shipping expenses........ $534,932
Taxes........................................ .....................................
6 202
Bond interest to March 1 ,1 8 8 8 ..................................
12,000
^
.Salaries, office and contingent expenses....................
13,760 |§ ^
Legal expenses............. .......... .................. *— . . . . . . .
253
Fire insurance and traveling.................... ..................
264—567,413
Net profit in 1887............. ........................................................
$84,823
The report of Mr. J. S. H irris, the President, states that “ the Less 22d div dend, paid March 10,1887..... .................. ............ 30 00>0
•rarningsof the Lehigh & Susquehanna R lilroad system again
Balance..... .................... ............................................................ $54,823
j&hiw a considerable increase over those of the previous year, Total nominal surplus Dec. 31,.1887...................................... .. . $627,527
ÏH E
254
CHRONICLE.
[V ol. XLVL
Board, whose statement in the matter may be regarded as
official, says that the Rock Island will during 1888 complete
between 275 and 300 miles of road, from its present terminus
Chesapeake & Ohio.—Messrs. Drexel, Morgan & Co. report near the Kansas border, west to Colorado Springs. No new
that the success of the reorganization plan is practically lines will be built between Colorado Springs and Pueblo, or
assured, the old securities having come in rapidly. The syn between Colorado Springs and Denver. This is in accord
dicate expect to be able shortly to authorize the contractors to with a definite arrangement arrived at between the Denver’s
go ahead with the bridge at Cincinnati, it being very important Executive Board and the Rock Island Company. The latter
that there should be no delay in getting early at the work to is to have the use of the Denver’s lines from Colorado
have it completed in time for next winter’s business. All the Springs to Denver and Pueblo. A contract to this effect has
details of the plan have been fully set forth in the circular been closed, and the document is now in the hands of Mr.
issued by Messrs. Drexel, Morgan «fc Co., already published Coppell. This will do away with the apprehension of serious
in the Chronicle.
rate-cutting, which would have been unavoidable had the
Chicago & Alton —Annual report o f Chicago <fc Alton Rock Island, as expected, decided to parallel the Denver’s
lines from Colorado Springs.
for the year ending Dec. 31 shows these results:
“ Nothing is now being done in the matter of the alleged
1886.
1887.
$8,060,639 difficulty between the Denver & Rio Grande and the Denver
$8,941,386
4,650,955 & Rio Grande Western. President Palmer, of the latter road,
5,270,202
$3,409,684 is still abroad. It is intimated that he has been communicated
$3,671,183
282,654 with about a sale of his line to the Denver, and that he con
269,238
Other income.
siders about $11,000,000 a fair price for the property, while
$3,692.339
$3,940,421
1,538,158 the Denver people are not willing to pay over $6,000,000, and
1,541,638
consider about $4,500,000 as nearer the real value of the pro
$2,154,181 perty to them. Mr. Coppell says, however, that he knows
$2,398,783
1,407,224
1,407,644
nothing about any attempt to force a trade of the above char
$746,957 acter, which means that the matter has not been officially
$991,139
356,250 considered. President Palmer’s idea of an equitable price is
750,115
$390,707 considered unreasonable, and if there were a favorable oppor
Surplus......................................... - ......... $241,024
tunity for disposing of his road he would probably at once
Chicago Burlington & Northern.—The following state reduce his limit about $3,000,000. The report that the Atchi
son wants to absorb the Denver Western and unite it with the
ment is issued for the calendar year 1887 :
Freight earnings....................................................................... ,--.$1 >874,624 Colorado Midland is an old one, and cannot be substantiated.
Passenger earnings........................................................................
341,659 The Denver’s Salt Lake City extension scheme seems to have
Miscellaneous earnings............................................... ................
59,916 come to a standstill pending some disposition of the Denver
Total earnings......................................................................... $2,276,199 Western, and has progressed no further than its organization.
Operating expenses and ta x e s.................................................. 1,808,763 The Denver, however, means to reach Salt Lake City over an
independent line, and will do so, whether it has to build or
Net earnings..................................................................................
whether the stockholders in May decide to buy the Western. .
Other income . . . . ..... ............................. ...................................
13,192
[The building of a second railroad from the Colorado line to
Total net income................................ .................. ............... - $480,628 Salt Lake would be another very bad example of the duplica
tìrack rental..................................................................... ••
Bonded interest.......................................................... . .578,750
646,501 tion of lines where they were entirely unnecessary, greatly to
the injury of the interests of stock and bond holders. If the
Deficit.................. - ................................. . ................................ $165,873 managers cannot agree upon a fair price for Denver & Rio
“ .The rebate to come from the C. B. & Q. people is not in" Grande Western, it is a case for rational arbitration, or in
eluded in the above statement, and the friends of the company default of that, for the interference of stockholders. In all
are confident that when a settlement is made the deficit will discussions upon this matter in the newspapers, as to C03t of a
be met nearly if not quite in full. In the early months of the new road, «fee., «fee., the most important point has been over
operation of the road, there was, it is stated, an accumulation looked, namely, the fact that with two roads the traffic would
of terminal charges which could not be brought into the oper be cut in half. For one road there will ultimately be a good
ating expenses until they had been adjusted. In the later business; with two roads, if they relied on this territory alone,
ublished statements this monthly charge has been included. both would probably starve.]
'he item of taxes is understood to include all local taxes and
Fremont Elkhorn & Missouri T a lley.—This railroad, be
the State tax on business for the two months that the road
was operated in 1886. The State tax on business in 1887 will longing to the Chicago <fe Northwestern system, has filed
not be fixed until May, 1888. The tax for the 1886 business, amended articles of incorporation. The capital stock is fixed
paid in 1887, was some $15,000. The road earned in November at $30,000,000, and provision is made for extending its lines m
The headquarters are
and December, 1886, $292,196 gross, and $87,629 net. The Nebraska, W yoming and Dakota,
equipment bonds now offered will add $68,000 to the fixed changed from Frem<*at to Omaha.
charges of the road, furnishing, of course, equipment which
Georgia Railroad & Banking Co.—The board of directors of
ought to add materially to the earnings.”
the Georgia Railroad <fe Banking Company recently held a
Chicago Burlington & Quincy.—In advance of the annual meeting and a resolution was adopted by the board, that,
report the results for the past year are given out by the commencing April 15, 1888, regular quarterly dividends of
two dollars and seventy-five cents each, per share of the cap
company as folio ws:
ital stock of the company, be paid on the 15th day of Jan
1886.
1885.
1887.
$26,556,425 $26,728,408 $27,576,078 uary, April, July and October.
This is equivalent to an
14,491,683
16,097,913 advance of 1 per cent a year in the rate o f dividend.
Operating expenses and taxes. 14,405,768
GENERAL INVESTMENT NEWS.
P
$12,150,657 $12,236,725 $11,478,165
592,432
615,342
859,054
Grand Rapids & Indiana.—The following is a statement,
in advance of the annual report, of the income account for
$12,743.089 $12,852,067 $12,337,219
5,127,864
5,214,514
5,286,084 1887:
1886.
1887.
Other income*
$7,615,225 • $7,637,553
6,110,572
6,110,722
$1,504,653
$1,526,831
$7,051,135
6,111,065
Gross earnings.................. .............................. $2,361,901
1,516,997
Expenses................ .................................
$2,098,126
1,338,862
$844,904
5,629
$759,264
1,328
$850,533
715,600
8,646
$760,593
715,600
30,805
$724,246
$126,287
$85,639
$746,405
$14,187
$940,071
Add profit Mackinaw Transportation C o ....
* Exclusive of land receipts.
Cincinnati Indianapolis St. Louis & Chicago.—The gross
and net *arnings and charges for December and from July 1
to December 31 were as below given :
Advances to leased roads
,--------- December.-------- > r—July 1 to Dec. 3 1,6 mos.—.
1887.
Gross earnings........ $237,567
On. ex. and taxes... 170,095
1886.
$246,977
156,980
1887.
$1,407,027
902,421
1886.
$1,398,995
873,588
Net earnings... $67,472
Fixed charges, less
33,333
miscel. income . . .
$89,997
$504,606
$525,407
47,925
199,998
287.550
$34,139
$42,072
$304,608
$237,857
Surplus.............
Denver & Rio Grande—Denver & Rio Grande Western—
Chicago Rock Island & P acific.—The Commercial Bulletin
gives ihe following: “ So many contradictory statements have
been published during two weeks past about the probable
future relations between the Denver <fe Rio Grande and the
Chicago Rock Island <fe Pacific railroads, that an official
statement upon tbe subject will be interesting. The state
ment that the Rock Island intends during 1888 to complete
about 300 miles of railroad from the Colorado State line (the
present terminus of the Company’s new Western extension)
to Colorado Springs, with independent branch lines to Pueblo
and Denver, is without reliable foundation. Chairman Cop
pell, of the Denver & Rio Grande Company’s Executive
Increase in net earnings.......................
Green Bay W inona & St. Paul.—The gross earnings of
this road in 1887 were $446,851; net earnings, $113,761.
Indiana B loom ington & W estern.—Chairman J. D. Camp
bell of the I. B. <fe W . Purchasing Committee, has issued a
circular to the bondholders. It reviews the proceedings which
preceded the organization of the new company under the
name of the Ohio Indiana «fe Western Railway Company, on
November 7, 1887, when Austin Corbin w s elected President.
After the latter date the Committee proceeded with negotia
tions f«>r the consolidation of the I B. «fe W. and Cincinnati
Smdusky «fe Cleveland companies. A final meeting of the
companies was held in New York January 31, but they failed
to agree upon any mutually satisfactory arrangement. It
remains for the committee to submit such modifications of the
original plan as will enable the new company to meet existing
o^Twttfirma and to issue and distribute the new securities.
F ebruary 25, 1888.]
THE CHRONICLE
The circular says: “ Pursuantto.the express authority contained in
the reorganization agreements, your Committee borrowed, to make the
cash payment required by the Court on completing the purchase, the
sum of $100,000 upon a pledge of all the securities deposited; this sum,
■with the interest, remains to be provided for by the new Company. Un
der the construction by the Ohio courts of the provisions of the lease of
the 0. S. & C. roads, there was due for accrued and unpaid rentals the
sum of $320,000 up to the date of theappointment of the receiver, July 2,
1886, for which a nna' and conclusive judgment was rendered against the
old Company. This amount was entered up in the foreclosure decree as a
lien upon the property prior to that of the bonds under which the sale
was made, and the property was bid in subject to this lien. Under the
proposed plan of consolidation it was provided that this amount, with
Interest, should be paid out of the new issue of first consolidated mort? age bonds. It is now necessary that provision should be made by
he new Company for the payment of this sum, with interest, in cash, in
addition to the amoiint borrowed upon the credit of the securities depos
ited, both amounting April 1, including interest, to about $460,000.
* * Your Committee therefore recommend that you authorize the new
Company to raise the required amount by an additional issue of bonds,
not exceeding $500,000, payable at such time, bearing such rate of in
terest, not exceeding 6 per cent, and having such priority of lien, as will
secure their prompt negotiation at par.
“ The new Company, on entering upon the possession of the property,
finds itself without any means of complying with those provisions of the
reorganization agreement which provide for the payment of the accrued
interest up to the date of the new securities, in cash. The entire net
earnings were appropriated by the Receiver to the betterment and imrovement of the property.” * * “ Subject to the approval of security
olders, the Committee recommend that the new Company be authorized
to fund the accrued interest into an issue of negotiable certificates to
accompany the bonds, bearing interest at the rate of.5 per cent, pay
able semi-annually, redeemable by lot from time to time as the earnings
will warrant, and payable at or before the maturity of the bonds severally,
to which it pertains, and secured, principal and interest, by the same
mortgages by which the bonds are secured. Under this modification the
relative status of all classes of security holders will be preserved.” * *
“ The President of the new Company assures the committee that the
new securities will be prepared as soon as the necessary consents to the
modifications are executed, and will be distributed as rapidly as they
can be printed.”
D akota & G reat Southern R ailway —$1,858,000 addit
ional first mortgage five per cent gold bonds, miking the
total amount listed $2,856,000.
*
St . L ouis & San Francisco R ailway Company—$500,000»
first mortgage trust one hundred-year five percent gold bonds;
Minnesota & Northwestern R ailroad —$1,815,000 addit
ional first mortgagefive per cent gold bonds, making the totals
amount now on the list $9,628,000.
P ittsburg & W estern R ailw ay —$250,000 additional first
mortgage four per cent gold bonds, making the total amount
listed $9,850,000.
The A sbury P ark N ational B ank —$100,000 capital stook.
St . L ouis & Chicago Railw ay —$900,000 first mortgage
consolidated six per cent gold bonds.
D uluth & Iron R ange R ailroad —$8,500.000 firs’; mortgage
coupon bonds and registered bonds for $1,000 and $5,000, intowhich the coupon bonds may be converted.
Old Colony Steamboat Co.—The Old Colony Steamboat
Company’s stockholders have voted to increase their capitalstock to $1,200,000 by the issue of 3,000 new shares to be
offered pro rata to stockholders. It was also voted to assess
the new shares $100 each, payable $50 on February 27, $45 on
March 26 and $5 on June 28. Interest will be allowed on pay
ments to June 28 at the rate of 4 perjcent per annum.
Railroads in New York State.—The returns of the fol
lowing roads for the quarter ending December 31 have been
filed at Albany as follows:
_
,
Gross earnings . . . . .
Operating expenses.
Net earnings. . .
Lake Shore & M ichigan Sonthern.—This company’s re
turns to the New Y rk Ssate Commissioners for the quarter Other in com e........
and year ending Dec. 81, 1887, differ slightly from the esti
Total in com e.. .
mated figures givt-n in the Chronicle of Dac. 81 on page 886: Fixed charges........
r-Quarter end’a Dec. 31.—
1887.
1886
Gross earnings.. $5,209,730 $4,648,504
Oper, expenses. 3,141,997 2,586,638
- Tear.
1887.
1886.
$18,710,962 $15,859,455
10,553,541
9,374,674
Net earnings $2,067,733 $2,061,865
Other in com e.. .
56,918
48,674
5,157,421
129,158
$6,484,781
110,751
T o ta l............$2,124,651 $2,110,540
Charges........ .
1,140,320
1,115,046
$8,286,579
4,503,741
$6,595,532
4,430,678
Surplus........ $984,331
$995,494
Dividends.......... 2% 989,330 2% 989,330
$3,782,838
4% 1,978,660
$2,164,854
2% 989,330
B ala n ce
def.$4,999 sur.$6,164
sur.$l,804,178 sur.1,175,524
255
Surplus.............
/ - Ogds’hg a L. Chant.-,
m 1887.
1886.
$190,635
$183,131
128,666 104,779
,— N. T. Ont. <&West.— ,
1887.
1886.
$458,758
$379,357
355,746
302,593
$61.969
6,432
$78,352
3,811
$103,012
............
$76,764
.......... .
$68,401
62,280
$82.163
62,268
$103,012
89,220
$76,764
83,935
$6,121
$19,895
$13,792 def. $7,171
i—North. o1 N. J.—>
,—Fitchburg.—\
1887. .
1887.
Gross earnings.............................
$85,610
$1,406,469
Operating expenses ........................
78,352
973,872
Net earnings..............................
Other income....................................
$7,258
3,260
$432,597
2,346
Total net......................................
Fixed ch a rges..................................
$10,518
11,099
$434,943
293,090
Surplus........................................
def. $581
$141,853
St. Louis B ridge & Tunnel R . R . —The statement of the
St. Louis Bridge Company for the yep,r ended December 31,
1887, shows gross earnings of $1,714,592, an increase of $150.379;
net earnings, $903,962. increase $67,163; and surplus after pay
ing all charges $49,335, against a deficit in 1886 of $22,227.
L ouisville & Nashville.—At Louisville, February 21, the
stockholders’ mee ing was held. The directors’ action was
approved, and it was decided by a vote of 168,422 shares
against 4,115 to pay the dividends in stock for three years,
according to the amount o f net ownings applied to improve
St. P aul M inneapolis & Manitoba.—The contract for
ments. but not exceeding altogether a total of $5,000,000. The building the line of this road from Hinckley, Minn., its present
resolution adopted on this point was as follows :
junction with the St. Paul & Duluth, northeast to West
Second—That the resolution passed by the Board of Directors on Superior, about 75 miles, has been let to Foley Bros., of St.
January 9,1888, declaring a dividend of 2 per cent from the earnings of Cloud, Minn. The road will be built by the Eastern Minne
the company for the six months ended December 31,1887, payable in sota.
common stock of the company at par. is approved and ratified, and that
the capital stock of the company, now limited to 300,000 shares
Western New York & Southern.—This is the name under
($30,000,000), be and the same is hereby increased to the amount of
6,000 shares ($600,000», being the sum necessary to pay the said divi which the Lackawanna & Pittsburg has been reorganized. It
dend so declared, and to such further sum as shall from time to time be is expected that the extension from Perkinsville, on the main
required to pay such dividends from net earnings as may hereafter be line of the road, to Geneva, a distance of 46 miles, will be
declared by the directors, payable in stock at par, such issues not to
completed duiing July.
exceed in all 50,000 shares ($5,000,000), additional stock.
M aysville & B ig Sandy.—A mortgage for $7,500.000 has
been made by this company in favor of the Union Trust Co.
of New York, to secure the payment of bonds issued by it for
this road. The meeting of th°» stockholders to ratify the
mortgage will be held in Maysville, K y., Feb. 29, after which
construction work will be commenced. The road extends
from Ashland, Ky., northwest through Maysville to Cincin
nati, 135 miles, and will connect the latter city with the Ches
apeake & Ohio.—R. R. Gazette.
Memphis & Charleston.—W ork is expected to begin in the
spring on an extension of this road from Stevenson, Ala , to
Chattanoiga, Toon., about 88 miles. The company now uses
the track of the Nashville Chattanooga & St. Louts between
these points at a yearly rental of $60,000, under a contract
which will expire next fall.
New York & Long Branch.—It is stated that a new traffic
arrangement has been effected between the Pennsylvania
Railroad and the Jersey Central for the operation of the New
York & Long Branch Riilroad. It provides for a joint guar
antee of interest upon the bonds and dividends on the stock
of the Long Branch Road.
New York Stock Exchange—New Securities Listed —The
governing committee o f the S ock Exchange hav* decided
that dealings in Petroleum Pipe Line certificates should begin
on March 1; they listed the following stocks and bonds :
Cincinnati I ndianapolis St. L ouis & Chicago R ailw ay —
$4,888,000 additional first mortgage four per cent coupon gold
bonds, making the total amount on tha list to date $5,600,000.
F ort W orth & Denver City R ailw ay —$998,000 additional
first mortgage six per cent bonds, making the total amount
listed $8,086,000.
Chicago B urlington & Quincy R ailro ad — $2,000,000
additional four per cent Nebraska extension coupon bonds,
making the total amount listed $13,600,000.
W isconsin Central Company.— A <ircular has been issued
to pref* rred and common stockholders, stating that the Wis
consin Central Company proposes to complete a branch road
from the cit es of Wausau and Merrill on the Wisconsin Riv>r
to Abbotsford on the Wisconsin Central Railroad, sixty-eight
miles long.
The counties of Marathon and Lincoln have appropriated about 50,000
acres of valuable timber lands to aid in the construction of the road, if
completed within this year. Right of way and terminals are secured.
The Wisconsin Central will carry the West-bound traffic developed by
this new road over 160 miles of its road between Abbotsford and St.
Paul. The new country to be opened is a very extensive timber region,
and the lumber traffic must be very great. The Wisconsin Central anti
cipates such advantages from the permanent control of this branch that
it proposes to lease the Merrill Wausau & Abbottsford road for ninetynine years, and to pay an annual rental of thirty per cent of the gross
earnings of the leased line; furnish the necessary rolling stock and
guarantee the interest on its first mortgage bonds; and to pro-rate busi
ness between the two companies upon terms very favorable to the new
road. Arrangements already have been made for the construction of the
new road, upon terms wnich reserve to the Wisconsin Central Company
seventy per cent of the net profits, if any, arising under the construction
eontracts.
The Merrill Wausau & Abbotsford R. R. Company will issue, subject to
the lease of the Wisconsin Central, all its securities in payment for its com
pleted railroad, viz., its first mortgage 59 year, 5 per cent gold bonds, at
the rate of $22,000 per mile, say $1,500,000. interest guaranteed by the
Wisconsin Central; 50 year 5 per cent gold income bonds, non cumula
tive, at $8,000 per mile, say $545,000; 6 per cent preferred stock, cumu
lative after June 1,1888, at $12,000 per mile, say $818,000; and com
mon stock at $8,000 per mile, say $545,000. All of these stocks will be
issued in trustees’ certificates, through Messrs. Colby, Abbot and Hoyt,
trustees. The Wisconsin Central Co. offers to its own stockholders
$1,500,000 first mortgage bonds, $300,000 incomes, $300,000 preferred
and $300,000 common stock, all for $1,500,000, payable in installments,
the first on allotment, 20 per cent; April 10, 30 per cent, May 10, 30 per
cent, and June 1, 20 per cent. The bonds will be dated and bear interest
from June 1.1888. Each subscription of $10,000 entitles the subscriber
to receive $10,000 first mortgage bonds, $2,000 incomes, $2,000 pre
ferred and $2,000 common stock. All Wisconsin Central stockholders
are given the right to subscribe pro rata, each holder of 100 shares
being entitled to subscribe $1,000; but stockholders who may desire
may subscribe for any amount, subject only to the company’s right to
scale down all surplus subscription pro rata, if necessary. The right to.
subscribe will expire March 10.
THE CHRONICLE.
2o6
------- — -------- rurrr
—
--- -
[ V ol , XL\ I.
■— —
which continued until December 10th, and during that period
operations were entirely suspended at this colliery, depriving
the company o f at least 10,000 tons monthly of coal tonnage.
SEVENTH ANNUAL REPORT
The only full month of production and transportation en
joyed by the company during the calendar year was Decem
TO THE STOCKHOLDERS
ber, when the output was 74,303 tons.
OF THE
The average monthly tonnage for the first eight months
NEW YORK SUSQUEHANNA & WESTERN RAILROAD was
50,133 tons, which was materially increased during the
COMPANY.
last four months of the year, the average tonnage for that
period being 68,664 tons.
The coal received and transported during the year was from
The President and Board of Directors submit herewith
-their report of the operations of the Company for the fiscal the following collieries, viz :
Tons.
_year ending December 31, 1887.
From the collieries of tlie Lackawanna Coal Co., Lim ited............128,531
The gross earnings of your Company for the fiscal year just
............ 96,170
*t
■“
“
Greenwood Coal Co.,
“
“
“
Winton Coal Co.,
“
............ 58,587
-closed w ere:
Reports ami ^acxtnxcnts,
$259,521 58
1,078,635 35
26,933 34
20,253 42
9,841 65
From passengers............. -...............
From freight, coal and milk............
Frojn car service..........................
From mail, express and telegraph
From miscellaneous.................. . -
«
“
“
“
“
$1,395,185 34
The entire operating expenses were :
’For maintenance of w ay............................... $150,887 45
For cost of motive power and maintenance
of rolling stock....................... .................... 282,104 59
iFor transportation......................................... 268.366 87
60,779 77
P o r miscellaneous.......... .............................
Total............. ..................................................... ..............
mm which deduct amount for interest on funded debt,
rentals and other charges, shown in detail in income
account below............................... - ............................ . ..
$660,205 99
27,159 33
505,610 25
$151,595 74
In order to show the comparative traffic earnings of the
Company for the last three fiscal years, the following state
ment is presented:
Freight, coal and milk___
Car service........................
Mail, express & telegraph.
Tear endmg Year ending Year ending
Dec. 31, 1885. Dec. 31, 1886. Dec. 31, 1887.
$234,068
807,188
24,359
17,976
8,762
01
80
65
17
00
$247,154
830,953
24,386
18,976
7,969
60 $259,521 58
76 1,078,635 35
26,933 34
20
85
20,253 42
9,841 65
12
$1,092,354 63 $1,129,440 53 $1,395,185 34
Operating expense?.
Maintenance of w ay........
Cost of motive power and
maintenance of rolling
Percentage of operating
expenses to gross earn
ings..................................
Net earnings .............
$93,234 96
$113,108 94
$150,887 45
230,918 54
223,338 32
39,949 34
232,591 28
251,123 84
40,837 59
282,104 59
268,366 87
60,779 77
$587,441 16
$637,661 65
$762,138 68
53*77
56*46
$504,913 47 '”$4917778'8 8
Tons.
1883
.................................................................. 329,522
1884
.................. 1.............................................. 475,346
1 8 8 5..
. . . ..............................................
608,072
1886..................*....................................................... 632,055
1 8 8 7 ..
. ..................................................................675,720
762,138 68
$633,046 66
Earnings.
Total................................................................................................675,720
In order to show the rapid progress made by your company
as a coal-carrying road, the following table giving the annual
tonnage of the company since the first year of its coal traifio
is presented :
Net earnings from traffic...............................................
T o which add income from other sources, shown in detail
in income account below..................................................
Leaving surplus for the y e a r ......................- ............
54*62
$633,046 66
$
The Gross Earnings of your company for the year
ending December 31st, 1887, were.......... ...........1,395,185 34
A n increase over those of 1886 of..................... '... 265,744 81
And as compared with those of ’85, an increase of 302,830 71
The Operating Expenses were................ ............... 762,138 68
An increase over those of 1886 o f.......................... 124,477 03
And as compared with those of ’85, an increase of 174,697 52
The Net Earnings from traffic w ere....................... 633,046 66
An increase over those of 1886 o f .......................... 141,267 78
And as compared with those of ’85, an increase of 128,133 19
Per ct.
or 23*51
or 27’72
or 19*52
or 29*74
or 28*72
or 25*37
Included in the operating expenses of 1887 is-the cost of all
improvements and betterments made during the year, and
Also the cost of construction of three and eight-tenths miles of
new double track.
COAL TONNAGE
From the above table it will be noticed that the tonnage for
the* past year, as compared with that of 1883, increased 346,198
tons, or 105 06 per cent.
The production o f an additional colliery known as the
“ Sibley Colliery,” operated by Elliot, McClure & Co., and
having a monthly capacity o f 10,000 tons, has been secured to
your company.
From the foregoing statistical statements it will be seen
that if business conditions justify steady production, with
regular movement of tonnage, free from interruptions which
strikes or other disturbances might occasion, your manage
ment can confidently predict an output of 1 ,000,000 tons for
the current year from the collieries controlled by your com
pany.
,
Of the ability of the collieries to produce this volume o f
tonnage there can be no question.
The company now has under its absolute control the entire
output of eight collieries tributary to its system, which, with
uninterrupted work, can produce not less than 4,000 tons
daily.
Preparations are going forward to increase the number o f
its collieries. Negotiations are now in progress for the con
trol of additional coal territory, and it can be confidently
stated that an assured annual production of 1,500,000 tons is
absolutely secured to the company for a long period of time.
The past year has developed a large increased demand for
anthracite coal, the aggregate production being 34,641,017
tons, an increase over the production of 1886 o f 2,504,655 tons.
Year by year the area of consumption widens, the great
West steadily demanding a larger volume of tonnage, and it
is not an unreasonable calculation to predict that the year
1892 will witness an anthracite production in excess o f
40,000,000 tons
The value of anthracite coal for the purposes o f transporta
tion can scarcely be estimated; the territory of limited extent
being practically controlled by the six great coal-transporting
companies, and cannot therefore be interfered with by the
construction of competing lines.
Anthracite coal tonnage with the growth of population and
development of manufacturing industries, must rapidly
increase, and the value of the coal in the ground of necessity
steadily appreciates.
Your company may be congratulated on its wonderful suc
cess in permanently securing so large a coal tonnage.
The coal tonnage of the company for the fiscal year was
<675,720 tons, showing an increase as compared with that of
the previous year of 43,655 tons, or 6*90 per cent.
The past year has been one of unusual disturbance in the
coal trade. Commencing with the early days of January, the
coa1-transporting companies were confronted with an ex
tended strike amongst the coal handlers at tide-water ship
ping points, virtually placing an embargo upon receipts and
deliveries, except upon a very limited scale, during its
continuance.
This strike, after a determined effort and a bitter struggle
lasting during the month o f January, completely collapsed,
And its favorable result is evidenced in a more satisfactory
control of the business of handling and delivering coal at tide
water.
Later in the season labor disturbances occurred in the Le
high region, and on September 10th the collieries in this entire
region suspended operations on a demand from the employes
fo r an increase in the wage basis.
In the Lackawanna region, from which your company re
ceives its coal tonnage, there has been but little interruption
to production by reason of strikes.
A local disturbance at the “ Dunn Mines,” operated by Jerm y n ; & Co., the output from which is controlled by your
company, took place on August 10th, resulting in a strike
^ .
“
Dolph Coal Co.,
“
............ 67,934
138,106
“
of John Jermyn ...........
“
“ Jermyn & Co.................................................. 68,570
“
“ Spencer Brothers..................... . ...................110,436
“
“ outside operators........................................
7,386
IMPROVEMENTS AND BETTERMENTS.
During the past year the physical condition of your prop
erty has been fully maintained, and large expenditures have
been made for improvements and betterments, which have
been charged to operating expenses.
Four hundred and fifty tons of new sixty-pound steel rails,
with heavy angle bar fastenings, were laid, at a cost o f
118,327 00, Over sixty thousand new cross-ties and sixteen
thousand feet of switch ties were placed in main track and
sidings at a cost of $27,338 00. A new brick engine house,
with iron turn-table and sidings, was built at Riverside at an
aggregate cost of $7,184 00.
To provide the necessary yard room at Paterson, to meet
the growing demands of the company’s traffic at that point,
your management were obliged to make Riverside, a suburb
of Paterson, the termini of all local trains.
In order to establish this terminal station thirty-five city
lots were purchased at a cost of $11,550 00, which purchase
has been charged to improvement and betterment account.
The engine house and appendages above mentioned were
ejected on this property.
.
The making of Riverside as the local terminal station has
greatly facilitated the movement of the traffic at Paterson,
and it will also prove to be a most important point for both
passenger and freight business at no distant date.
F ebruary
25, 1888.]
THE CHRONICLE!
257
The plan adopted by your management, and so successfully
carried out, provided, as was fully explained in the last
Annual Report of your Board, for the issue o f new First
Mortgage Refunding Fifty-year Five Per Cent Bonds to the
amount o f $3,750,000, to be used in the retirement of the
$2,500,000 of old First Mortgage Six Per Cent Bonds o f
1911, Car Trusts and Coupon Obligations issued for deferred
interest payments during the years 1885 and 1886 from !tne
First Mortgage Bonds.
It is also provided for the issue of Second Mortgage Fiftyyear Four-and-one-half Per Cent Bonds to the amount o f
$1,000,000 00 to be used, $636,000 00 thereof for the retirement
os the Debenture Bonds of 1897 and Coupon Obligations
issued for deferred interest therefrom, and the balance, $364,000 00 for the acquisition of new equipment and the construc
tion of the double-track between Jersey Ciiy and Paterson!
To demonstrate the success which has attended the efforts
of your management in carrying out the desired plan for tjhe
placing of the Company on a full interest-paying basis, ypur
Board would report that out of an issue of $2,500,000 00. "of
old First Mortgage Six Per Cent Bonds and $600,000 00 o f
Debenture Bonds there was but $23,000 00 of First Mortgage
and $93,500 00 of Debenture Bonds unconverted into the new
bonds provided for under the Refunding Plan, on Dec- 81, 1887 .
The very ready compliance on the part of the bondholders
by the prompt exchange of their securities, is the best evi
dence that can be offered o f the entire fairness of the Refund
Locomotives......................................................................- ............
39 ing Plan adopted with unanimity by the Board of Direct^bs,
Passenger coaches ,. ....... .................................................................
24
Baggage and express cars.....................................................................
18 and with rare exceptions so generally approved by the security
Freight and coal cars o f all classes................................ ....................1,944
holders of the Company.
DOUBLE-TRACKING OF ROAD.
MIDLAND RAILROAD COMPANY OF NEW JERSEY
SECURITIES.
r During the past year 3 8 10 miles of new double track
between West End Trestle and New Durham, and Little Ferry
The amount of the several classes of these securities, con
and Ridgefield Park, were constructed at a cost of $26,207, and sisting of capital stock, income bonds and scrips, converted
charged to operating expenses.
into the preferred and common stock of the company, up O'
The completion of these links between Jersey City and December 31st, 1887, is as follows:
Paterson gave your company on December 31st, 1887, 4 % The issue of these securities was................ ......................... $8,£97,179 OO
miles of double track.
Amount converted to December 31,1886. $7,152,705 ro
421,534 00
It is the expectation of your management to prosecute the Amount converted during year....................
--------------------- 7,574,239 00
work of construction of the double track to Hackensack dur
ing the current year, and they feel confident that by Decem Leaving amount unconverted December 3 1 ,1 8 8 7 ................... $1,422,940 OO
ber 31st, 1888, your company will be operating a second track
Divided as follows:
between Hackensack and West End Trestle, a distance of Capital stock................................................... $275,130 00
Income
bonds, Class “ A ” .............................
525,430 00
eleven miles.
329,884 OO
Income bonds, Class “ B ” .............................
As reported by your directors in their previous report, pro Scrip, No [1..... .......... ......................... .........
254,096 00
38,40000
vision was made under the refunding plan, for the double Scrip,No. 2 ........................... .......... ............
----------------------$1,422,940
OO'
tracking of the road between West End and Paterson, and
CONCLUSION.
the purchase of additional equipment by the issue of second
mortgage bonds to the amount of $364,000.
The results obtained from the operations o f your property
Your management, fully realizing the requirements of the during the past year have exceeded the reasonable expecta
company for increased equipment, deemed it most to its tions of your management, and with a continuance of the
interests to construct as far as practicable the double track out increased business now shown in all departments o f the com
o f earnings, and thereby leave the second mortgage bonds pany’s traffic, the results of the current year’s business must
free for the purchase of new equipment.
show increased net earnings.
Acting under this policy the cost of the second track con
In order to acquaint the stockholders with the company’s
structed during the past year was charged, as reported, to operations as soon after the closing o f the fiscal year as the
operating expenses.
accounts would warrant, it was deemed expedient by your
board to change the date of the holding of the annual meetipg
MACOPIN RAILROAD.
of stockholders for election of directors from the first Thurs
The Macopin Railroad extending from Macopin Lake, Pas day in May to the last Thursday in February in each year.
saic County, New Jersey, to a point of connection with the This has been done by amending the by-laws of the company
main line of your Company at Charlotteburgh, New Jersey, a to meet the desired change
distance of one and one-half miles, was completed May 1st,.
To the officers and employes the company is indebted fo r
1887, and by means of which your Company has secured ab earnest and faithful attention to their respective duties during
solute control of a large increased tonnage from ice transpor the year.
tation.
A statement in detail of the operations and betterments o f
The volume of business derived from this branch road dur the road during the year will be found in the accompanying
ing the past year from ice transportation exceeded 20,000 reports.
tons, and it is expected that the tonnage from this traffic for
In conclusion your board beg to congratulate the bond and
stockholders upon the successful consummation of the refund
the current year will not be less than 75,000 tons.
In addition to affording large increased freight traffic, the ing plan, by the operations of which your company has been
Macopin Railroad, forming, as it does, direct connection with placed in a sound financial condition.
Macopin Lake, insures your Company a large summer passen
By order of the Board of Directors.
F. A. POTTS, President. ,
ger excursion business.
As was anticipated by your management, this lake has
N ew Y ork , February 21st, 1888.
proved to be a most popular and attractive day resort for
“ summer excursionists,” your Company having carried to
INCOME ACCOUNT FOR THE FISCAL YEAR ENDING
the lake during the past season over 10,000 pas engers from
DECEMBER 31, 1887.
the various points on its lines.
Dr.
As reported by your Board of Directors in their last report,
To operating expenses—
the ownership of this desirable branch road will be gradually Maintenance of way....................-.....................$150,887 45
acquired by your Company under a very advantageous agree Cost of motive power and maintenance of
rolling s to ck .......................- ....... - .............. 282.104 59
ment made for its purchase.
Transportation.................................................... 268.366 87
EQUIPMENT.
A t the close of the fiscal year ending December 31st, 1886,
the equipment consisted o f 37 locomotives and 1,882 cars of
all kinds, which have been maintained in proper order and
repair during the year and the cost charged to operating
expenses.
The equipment was increased during the year by the pur
chase of two Mogul locomotives, fifty refrigerator ice cars,
fifty twenty-ton coal cars, and two caboose cars, at an aggre
gate cost of $69,324, which has been charged to special equip
ment account.
One express car was built at the company’s shop3 at a cost
o f $980 and charged to operating expenses.
The present equipment is inadequate for the traffic of the
company, and an increase o f at least three locomotives, two
hundred coal cars, fifty box cars, twenty-five gondola cars
and four pss 3enger coaches will be required during the cur
rent year m order to provide for the requirements of its busi
ness.
Of the additional equipment necessary for the current year’s
demands, your management have contracted for the purchase
o f fifty twenty-ton coal cars, twenty five gondola cars, and
tw o locomotives; deliveries to be made during March and
April next.
Tne equipment of the company on December 31st, 1887,
consisted o f :
FUNDING
OF BONDED INDEBTEDNESS
TRUSTS.
AND
Miscellaneous.............. . . . . . . . ........... .
.
60,779 77-$762,138 6»
CAR Net
earnings..............................................................................
633,046 60
It is most gratifying to your management to be able to
report the full and complete success of tho “ Refunding Plan ”
adopted in December, 1886, for the relief of your Company
from the heavy annual payments required to be made for car
trust liens, to provide for the liquidation of which the Com
pany’s bondholders were compelled to accept for their interest
maturing during 1885 and 1886 half-cash payments and de
ferred interest coupon obligations for the balance.
The adoption and consummation o f the refunding plan not
only obviates the necessity of any further half-cash interest
payments, but also releases the equipment embraced in the
car trusts and vests the title thereto in your Company, thereby
placing the Company in a position where its a.nnna.f fixed!
charges can be fuliy provided for from its earnings.
$1,395,185 34
To interest on funded debt—
First mortgage refunding bonds, $3,750,000
at 5 per cent.....................................................$187,500 00
Second mortgage bonds, $636,000 at 4*2 per
cent.......... ? . . . ..................................................
28,620 00
First mortgage Midland RR. Co. of N. J.
bonds, $3,500,000 at 6 per ce n t.................. 210,000 00
First mortgage Paterson Extension RR. Co.
bonds, $250,000 at 6 per cent.................. . ..
15,000 00— 441,120 OO
To j'g tettiIs_
Middletown Unionville & Water Gap R R ....... 22,000 00
Passaic & New York R R .....................................
4,494 50— , 26,494 50
To interest on mortgages on real estate................................
2,54110
To taxes............................ . .....................................................
35,454 65
To surplus for year...................................................................
154,595 74
$ 6 6 0 ,2 ^ 99
THE CHRONICLE
258
Cr .
B y earnings—
Passengers.............................. .........................$259,521 58
Freight, coal and milk..........
, . ...........1,078,635 35
»Car service..................... ...... ....... .................
26,933 34
.Mail, express and telegraph..........................
20,253 42
M i s c e l l a n e o u s . 9, 841 65—$1,395,185 34
■ J p to
rvoL. XLVI.
( f .o n m
t je t c ia l
COMMERCIAL
l i 'm
e s .
e p it o m e .
F r i d a y N i g h t , Feb. 24,1888.
B y pet earnings................ ............. ........................ - -- •- - - $633,046 66
B y assessuent account—
............ $ 20,002 63
.By interest on securities................... .
7,156 <0—___ ¿ 7 , i on an
$660,205 99
CONDENSED BALANCE SHEET—DECEMBER 31, 1887.
DR.
•Cost of railroad, rolling stock, real estate and buildings. $27,870,923
Stocks and bonds owned.....................................................
1>354,954
Special equipment.................................................. - ...........
" i iVi?
Improvements and betterments....................................11>»17 a i
•Current accounts............................- ....................................
179,955
260,582
Bills receivable and advances to coal producers.............
Material and fuel on band..................................................
Cash on band............. ..........................................................
130,416
03
64
qi
27
95
89
$29,903,257 78
Cr .
Capital stock.......................................... ............................ $21,000,000
Bonded debt.................................................... $8,500,000
Less second mortgage bonds held for equip
ment. etc........ ...............................................
364,000— 8,136,000
Audited pay-rolls and v o u c h e r s ....................................
30,309
135,000
Doans, secured by collateral ............................................
.John R. Bartlett, Trustee .................................. ........... . .
88,036
Current accounts ............... .................................................
117,505
Interest and rentals accrued, but not due.......................
173,032
Land department liabilities.................................................
89,988
183,385
Profit and loss........................... .......................... ...............
00
00
69
00
31
62
66
00
50
$29,903,257 78
The week has been broken by a close holiday (Washing
ton’s Birthday) and is almost wholly without incident affect
ing mercatile values. The aspects of European politics con
tinue to absorb close attention, and are the cause of uneasiness.
The weather has turned spring-like, and we hear less o f
adverse crop prospects.
Rains and melting snow have
caused the local floods which attend each recurring spring.
It is intimated that the new tariff bill will be reported to the
Lower House soon. Its discussion will occupy many weeks,
but the passage o f some measure of the sort seems highly
probable. Regular trade has been fair and speculation in lead
ing staples moderately active.
Business in lard on the spot has been quiet, and a slight
improvement in values, which was made early in the week,
has not been fully maintained. To-day the market was weak,
closing at 7 65c. for prime city, 8@8*05c. for prime to choice
Western, 7 90c. for refined to the Continent and 8-65c. for
South America. The speculation in lard for future delivery
opened the week with some show o f strength and activity,
but soon weakened and became dull. To-day the market was
slightly depressed, but closed steady.
COAL TONNAGE FOR FISCAL YEAR ENDING DEC. 31, 1887.
Ton 8.
Total tonnage.......................................................................... 675,720
Monthly Tonnage.
Tons.
January...........................................................................
32,584
February........................ - .............................................
54,382
March.........................................
62,569
A p ril............................ ....................................... ...........1 A- 47,248
M a y .........................
48,070
J u n e . . . .. . . . . . .___. . . . ______
45,125
J u ly ......................................
51,651
A u gust...............
...........
59,433
September........................................................... .............
63,085
O ctober..........................
- ...........
6^,995
November............................
70,275
December..........................
74,303
Average tonnage per month, 56,310 tons.]
675,720
Author Amount
out
ised
issue. standing
Rate of
Character of Bonds.
1interest.
AMOUNT AND MATURITY OF MORTGAGE DEBT, JAN. T, 1888
$
1st mort, refund! ng gold
$
bds, N.Y.Susq.A West. 3,750,000 3,750,000 5
2d mort, gold bonds, N.
Y. Susq. & Western... 1,000,000 636,000
1st mort, gold bds, Mid
land RB. Co. of N. J .. 3,500,000 3,500,000 6
1st mort.g’d bds, Pater
son Extension RR. Co. 250,000 250,000 6
8,500,000 8,136,000
Total.
Date Of
maturity.
Interest
payable.
Ann’al
infrest
charge.
$
Jan. 1,1937 Jan. 1, Ju lyl 187,500
Feb. 1,1037 Feb. 1, Aug.l 28,620
Apr. 1,1910 Apr. 1, Oct. 1 210,000
Junel, 1910 Junel, Dec! 15,000
441,120
MILEAGE—LEASED AND OWNED IN FEE DECEMBER 31, 1887
Owned in Fee.
Miles.
From West End, Jersey City, New Jersey, to Gravel Place, Penn
syl van ia.................................'--.......... — ................................. ... 101 *30
From Two Bridges, Sussex County, New Jersey, to Unionville,
New Y o r k .................................................. ........................................ 20-50
From Columbia Junction, New Jersey, to Delaware, New Jersey.
3-10
From Price ville to Winton —Branch in Lackawanna Valley,
Pennsylvania................-• - -•- - - .......................................................
840
From Paterson Extension B ran ch ............. ............................. .
.75
Total number miles ow ned...................................................... ... 134-05
Total number miles of second tr a c k ..................................4-75
Total number miles of sidetrack........................... ............ 34-4
Leased.
From Unionville. New York, to Middletown, New York___13-90
From Passaic Branch--------— ......... — — ....................
3 -00
From Lodi Branch . . . . .................................... ....................... 1-75
From Macopin B ranch-------. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-50
From track?
-Pennsylvama Railroad
......... .
2-50
------ - 22-65
Total number miles opDi-ated....................................................... 156-70
L ouisville Southern.—The grading is finished from Louis
ville to Harrodsburg Junction, a distance o f eighty miles, and
is ready for the track. The extension to Danville, nine miles
from Harrodsburg, is all surveyed, and contracts will be let
within the next 90 days for the grading and tracklayiDg. The
extension from Lawrenceburg to Lexington, Ky., about 25
miles, is all surveyed, and contracts will be let for grading
and tracklaying soon. In the spring surveys will be made for
the extension from Lawrenceburg through Versailles, to Three
Forks, K y., a distance of about 70 miles.
Tracklaying on the Louisville end is completed for 17 miles
and is being continmd at the rate of % mile per day. From
Harrodsburg the track is laid for 13 miles. A 60 lb. rail
used. The contractors expect to finish this work by April
and the railroad company will have trains running May 1.—
Railroad Gazette
D AILY CLOSING PRICES OF LARD FUTURES.
Saturday. Mond’y Tuesd’y. Wednsd’y. Thursd'y. Friday.
77-98
8-02
8*00'
March delivery.. . 7-99
w
899
- 00
78-02
0
8 03
April delivery___ . 8-02
8-02
803
8-05
8-07
May delivery..... . 8-07
8-07
8-07
8-10
8-11
p
Juñe delivery.. . . . 8-12
8-11
8-12
8-15
8-17
July delivery....... . 8-17
Pork has been dull, but prices rule about sttady; mess,
$15@$15 50; extra prime, $13@$13 25, and clear, $16 25@
$18 50. Cutmeats are easier, with considerable recent sales
of pickled bellies of medium weights at 7 J^@ 7 % c.,a n d cur
rent quotations are pickled bellies, 7J^@7^c., shoulders,
6 % @ 6 %c. and bams, 9%@10c.; smoked shoulders, 7%@ 8 c.
and hams 10%@llc. Beef is nearly nominal at $7@$8 for
plain mess and $8 @ $ 8 50 for packet, per bbl.; India mess
quoted $16@$18 per tierce, and beef hams $16@$16 50 per bbl.
Tallow is dull at 4% @ 4% c. Steariue is quiet at 8 % @ 8 ^ c .
nargarine is steady at 6 )^c. Butter is quiet at 20@80c.
reamery, the outside figure for Elgin fancy; Western
[ selling at 28c. State dairies 19@26c. and Western factory
15@23c. Cheese is steady; State factory, full cream, 10^@
123^c. and skims 4@10c.
The coffee market has further declined, and quotations on
the spot are unsettled and nominal. Rio options declined
sharply on Tuesday and again yesterday, under depressing
foreign advices, making the lowest figures in many months.
To-day there was some natural reaction, closing this afternoon
with sellers as follows for delivery in 1888:
February.............12-00o.
M a rcb ^ ............ 1 1 4 (0 .
¿ p ril .................. ll-25o.
M ay...”."."."........... ll-15o.
I J u n e.. ....l l-0 5 o .
October
-10-25©.
July......... ........... 10-75o. N ovem ber.... 10-20c.
I A u gu st.............,10-60c. December— 10*20o.
|September........1040c.
Raw sugars are firmer at 4 13-16c. fer fair refining Cuba, and
5 7-16c. for Centrifugal, 96 deg. test., and a cargo of Iloilo,
341^ deg. test., sold to-day at 4 ^ c. Molasses quiet at 20c. for
50 deg. test. The tea sale yesterday went off at steady prices,
Kentucky tobacco is unchanged; 300 hhds. sold, mostly for
export, at unchanged prices. Seed leaf in fair request, sales
for the week aggregating 1,195 cases, as follows: 300 cases
1881 and 1885 crops, Pennsylvania, 9)^@ 14c.; 220 cases 1886
crop, Pennsylvania, 10@ 18c.; 250 cases 1886 crop, Wisconsin
Havana, 8@ 10c.; 125 cases 1886 crop, New England Havana,
12@28c.; 150 cases 1886 crop, Dutch, 9@ 11c., and 150 cases
sundries, 7@28c.; also, 450 bales Havana, 60c.@$l 10, and 200
bales Sumatra, $1 40@$1 85.
The Metal Exchange has been rather dull during the week,
but to-day was fairly active. There was a considerable move
ment in ingot copper, but at easier prices; the sales aggregat
ing 700,000 lbs. at 16*100. for Feb., 16*10@16*15c. for March
and 16*25c. for July. Lead was more active, at hardening
values; sales 500 tons domestic at 5 07^@ 510c. for Febiuary
and March and 5*15@5*17^c. for April. Straits tin sold in a
small way at 36^e. for February, 35*95?. for March and
31*45@31*35c. for for May. Spelter is dull at 5)^c. The in
terior iron markets are dull and drooping.
Crude petroleum certificates are without decided change,
closing easier at 8 9 ^ @ 8 9 ^ c. Spirits turpentine is easier and
i more active at 40*^c. Rosins are quieter, buc firm, at $ 1 15@
1 2 0 for common to good strained.
97
TH E CHRONICLE.
F ebruary 25, 1888.1
COTTON.
T h e M o v e m en t
op the
F r i d a y , P. M., Feb. 24, 1888.
C r o p , as indicated b y our telegrams
from the South to-night, is given below. For the w eek ending
this evening (Feb. 24), the total receipts have reached 69,024
bales,against 84,137 bales last week, 99,583.bales the previous
w eek and 98,668 bales three weeks since, m aking the total
receipts since the 1st o f September, 1887, 4,835.897 bales, against
4,776,234 bales fo r the same period o f 1886-7, show ing an in
crease since September 1, 1887, o f 59,663 bales.
Receipts at—
Mon.
Sat.
Galveston........
Indianola,&c.
New Orleans...
Mobile...............
F lo r id a .........
Savannah ........
Bruns w’k,&c.
Charleston.......
Port Royal,&e
W ilm ington....
Wash’gton, &c
N orfolk ............
West Point, &c
New Y ork ........
B oston .............
Baltimore........
Philadelphia,&c
Tues.
Wed.
Thurs.
974
337
645
1,007
737
3,881
436
4,231
192
6,195
638
5,747
86
4,425
363
1,574
1,670
1,174
476
1,048
1,062
2,267
908
1,153
1,027
1,187
164
220
114
66
627
930
490
84
552
398
249
122
873
1,341
501
128
1,233
641
360
111
770
855
470
71
76
26
101
254
Fri.
Total.
354
4,054
For com parison w e give the follow in g table show ing the w eek’s
total receipts, the total since September 1, 1887, and the stock
to-night, and the same items for the corresponding periods of
last year.
1887-88.
This Since Sep.
Week. 1,1887.
1886-87.
This Since Sep.
Week. 1,1886. .
Stock.
1888.
1887.
Galveston ...
4,054 617,292
5,814 674,318
28,140
53,160
...
Ind'nola,&c
New Orleans. 27,160 1,510,055 38,526 1,532,751 316,247 349,883
1,762 195,403
Mobile..........
3,993 201 030 ... 30,223
19,978
F lorida........
50
22,708
270
22,093
Savannah ...
6,742 806,574 11,774 754,859
68,449
69,282
Brunsw.,&c
1,746
67,460
312
25,744
Charleston .
7,425 379,770
6,054 370,246
37,143
20,225
P. Royal, &c
215
13,160
431
16,016
443
703
Wilmington
1,853 166,985
877 130,577
11,156
4,032
Wash’t’n,&c
8
4,644
3
3,711
Norfolk........
5,185 422,722
7,752 497,835
36,224
31,506
W. Point, &c 6,849 452,779
5,742 298,911
3,655
8,809
New York___
3,390
63,474
2,074
77,539 274,231 252,371
Boston..........
772
62,693
4,491
78,488
18,000
10,500
Baltimore ...
1,246
27,564
5,000
60,685
18,865
20,904
Phil’del’a, &c
567
22,614
1,900
30,825
25,855
22,008
T o ta ls....... 69,024 4,835,897 95,013 4,776,234 868,631 863.361
Ah o rd e r th ä t co m p a rison m a y be m a d e with, oth er year», w a
g iv e b e lo w th e totals a t le a d in g ports fo r s ix seasons.
Receipts at— 1888.
1887.
1886.
1885.
1884.
1883.
Galvest’n, &c
New Orleans.
M obile..........
Savannah ...
Charlest’n,&c
Wilm’gt’n, &c
Norfolk........
W’t Point, &c
All others___
4,054
27,160
1,762
6,742
7,640
1,861
5,185
6,849
7,771
5,814
38,526
3,993
11,774
6,485
880
7,752
5,742
14,047
6,320
34,502
4,440
12,622
6,208
674
9,000
5,763
13,338
2,921
21,542
2,018
6,450
4,835
752
3,910
1,530
6,354
In addition to above exports, our telegrams to-night also g iv e
us the follow in g am ounts o f cotton on shipboard, not cleared,
at the ports named. W e add similar figures fo r N ew Y o rk ,
w hich are prepared fo r our special use b y Messrs. Carey, Y a le
& Lam bert, 24 Beaver Street.
On Shipboard, not cleared—fo r
Feb. 24, AT—
Great
Other
Britain. France. Foreign
New Orleans.. . . 16,532
Mobile...............
None.
Charleston.......
2 000
Savannah ......... . 5,100
Galveston. . ___
2.070
Norfolk.............
10,000
New York . . . . . .
2,200
Other p o m .......
9,000
5,596 19,534
None. None.
None. 10,700
None. 11,300
None.
3,394
None. None.
700
6,500
None.
1,000
--------------,, ,
Total.
1,736
None.
700
1,500
3,952
2,000
None.
None.
43,398
None.
13,400
17,900
9,416
12,000
9,400
10,000
272,849
30.223
23,743
50,549
18,724
24.224
264,831
67,974
7,246
31,859
2,474
8,469
10,126
484
5,968
3,964
5,897
year the m ovem ent fell off very sharply after the first o f
March. On Thursday there was a fresh decline, (sp ecia lly in
the early months, under the impression that the c o m in g
m onth must witness a process o f liquid ition that m ay cau se
m ore or less depression in values. Foreign a d vicfs w ere dis-l
couraging also, and a long crop estimate cam e from N ew
Orleans.
To-day a weak opening was follow ed by an advance
on the report that short notices for March had been stopped to
the extent o f 40,000 bales. Business was suspended som e
minutes before the close by the sudden death o f Mr. C. L ,
Greene, a m uch respected mem ber o f the Cotton E xch an ge.
Cotton on the spot declined l-16o. on M onday. To-day the
market was quiet but steady at 10 9-16c. for m iddling uplands.
The total sales for forw ard delivery for the w eek are 433,500
bales. For immediate delivery the total sales foot up this w eek
959 bales, including 10 for export, 924 fo r consum ption,
25 for speculation and — in transit. O f the above — bales
were to arrive. The follow in g are the official quotations fo r
each day o f the past w eek—Feb. 18 to Feb. 24.
UPLANDS.
Sat. Mon. T u es W e d
Ordinary..... .........................ft
Strict Ordinary..........................
Go<'d Ordinary...........................
Strict G od Ordinary...............
Low M iddling....................... .
8trict Low M iddling..................
Middling.......................................
Good M iddling..... .....................
Strict Good Middling.................
Middling Fair . ............................
F a ir....................................
GULF.
7%
Z
i1!« Z i1!«
8%
83i«
8%6
93j6 9%
9%
9%
9 ii16 9%
10% lOiie lo h e
107! 10% 10%
10% 10%« 10«16
1078 lO13i0 lOlSjg
11% 1Ü16 1Ü16
11% 1 1 710 11716
12% 12ii« 12116
Sat. M o n T u e s W e d
18,240
46,619
3,264
13,417 Ordinary...............................$ ft
Strict Ordinary..........................
13,773 Good O rdinary........................ .
2,360 8trict Good O rdinary...............
22,111 Low Middling.......... *..................
Low Middling....................
5,912 Strict
Middling ............. _______
9,625 Good M iddling............................
Strict Good Middling_________
Tot. this week
69,024
95,013
92,867
50,312
76,487 135,321 Middling F a ir .............................
Fair.......................
Since Sept. 1 4835,897 4776,234 4536,847 4390,034 4340,218
4901,714
STAINED.
_
Leaving
S tock?
Coast
wise.
2,681 27,160
47
1,762
50
46,902
50 Total 1888........
6,296 52,428
9,888 115,514
753,117
800
6,742
Total1887........
77,932 11,651 62,641 10,178 162,402
700,959
1,746
1,746 Total 1886........ 88,965 16,253 58,213
9,934 173,365
851,925
1,008
7,425
215
The speculation in cotton for future delivery at this m arket
215
102
1,853 was dull and weak on Saturday last, but at the low er prices
8
8 Monday’s business was com paratively active, there h a v in g
1,130
5,185
2,684
6,849 been some buying to cover contracts, and a partial revival o f
1,320
3,390 speculative confidence. The marked redaction in receipts a t '
256
772 the ports, as com pared w ith the corresponding w eek last year,
1,246
1,246 had little effect, because it was the general remark that last
110
567
Totals this week 11,321 10,208 12,724 10,928 10,086 13,757 69,024
Receipts to
Feb. 24.
259
„ ywwx V1UVU1VJ.UUDDvibjf JTU111U) OtO’
7 13i0
7%
Zi*!«
8%
8%0 8Bi0
96,0 9%
9%
9i3ia 9%
9%
w10% 103j6 lO3i0
109j6 10% 10%
&
10% 10Ü16 lOiiia
11
101510
? 616 113j0
11% Ì11»!0
11% H«10 H%6
12% 12% « 123i0
Sat M o n T u es W e d
Good Ordinary....................lb.
7%
7%
Tb.
F r i.
Z i1’ «
8%e
9%
9%
10iI6
10%
Z i1!®
8«!#
9%
9%
101i6
10%
10V
10!»! g
1Ü16
1171«
121-1*
FH.
10%6
1018le
lUie
l l 7ie
]12iX6
Tb.
Zi®!«
8%0 Zi®!«
8%«
9%
9%
9%
9%
1O3J0 103Iff
10% 10%
lO iije i o n i »
1016i6 10l5ift
11% 6 11%6
11?1« 11 *16
123ld
T b . FriT
7%
7%
i1!« 8&10 85i0
f o r ^ e, y eek ending this evening reach a total Strict Good Ordinary.................. Z
8%
Holi 8%e 86ia
9%
o f 100,130 bales, o f w hich 76,094 w ere to Great Britain, 187 Low Middling............
95ie 9%
day. 9%
9%
...........
Middling
...7
IO»!©
10%
10%
10% 10%
to France and 23,849 to the rest o f the Continent. B elow are
the exports fo r the w eek and since Septernhar i 5 1887.
Exports
from —
Week Ending Feb. 24.
From Sept. 1,1887. to Feb. 24,1888
Exported to—
Exported to— •
Great
Conti Total Great
Conti
France
Brit’n.
nent. Week. Britain. 'France nent.
Total.
Galveston ...
New Orleans.
Mobile..........
Florida.......
Savannah* ..'.
Charleston...
Wilmington .
Norfolk.......
West Point,&c
New York
Boston ...
Baltimore
Philadelp’a’&c
Total.
76,094
Total 1886-7
58.924
29,134
7,882
1,874
10,035
19,094
6,545
1,530
£00
803
803 223,970] - 4,024
14,843 43,977 529,694 220,573
7,382
62,488
3,446
8,200 5,074 177,269 12,480
1,770 1,770
67,815 25,839
71,766 6,395
........
200,603
10,035 185,200
187 3,233 22,514 350,003 24,606 .
6,545 134,192
1,530
78,340 1,805
500
38,165
187 23,849 100.180 2,123,751 295,722 997,510'3,416.983
9.037 16.869 84 830 2.132,248 440.354 851.582 3.424.184
. * Includes exports from Brunswick*
76,935 304,929
309,182 1,059,449
62,488
3,446
217,522 407,271
160.286 253,940
37,635 115,796
3,375 208,978
1,099 186,299
160,406 535,015
1,996 136,988
25,214 105,359
3,860
42,025
MARKET AND SALES.
The total sales and future deliveries each day du ring the
week are indicated in the follow in g statement. F or the con
venience o f the reader w e also add a colum n w h ich show s at a
glance h ow the market closed on same days.
SALES OP SPOT AND TRANSIT.
SPOT MARKET
CLOSED.
Sat .. Very Dull............
Mon . Q’t&8t’y'®iisdec
Tues. Quiet & steady..
Wed .
Thurs Easy....................
Fri... Firm....................
Total.
Ex Con- Spec- Tran
port. sump ul’ t’n sit. Total.
10
10
136
177
.Holi day..
285
25
326
924
25
FUTURES.
Sales.
Delio»
erics.
40,400
146 141,200
177 63,900
310 88,100
326 99,900
959)433,500
The daily deliveries given above are actually delivered the day
previous to that on which they are reported.
T h e S a l e s a n d P r ic e s o f F u t u r e s are show n
fo llo w in g com preh en sive t a b le :
b y th e
THE
*2^0
CHRONICLE
[V O L . X L i
and consequently all the European figures are brought d o w n
to Thursday evening. But to make the totals the complete
figures for to-night (Feb. 24), we add the item of exports from
the United States, including in it the exports of Friday only.
1888.
Stock at Liverpool.......... bales 847,000
Stock at London. . . . . . . . .
26,000
1887.
960,000
10,000
1886.
709,000
1 1 ,000
Total Great Britain stock.. 873,000
4,200
Stock at Hamburg....................
46,000
Stock at Bremen.......................
Stock at Amsterdam................ , 25,000
500
Stock at Rotterdam............. .
1,100
Stock at Antwerp.....................
Stock at H avre........................., 178,000
2,000
Stock at Marseilles..................
Stock at Barcelona.................. . 43,000
.
5,000
Stock at Genoa............... .
4,000
Stock at Trieste.........................
970,000
3,000
33,800
31,000
400
1,200
259,000
3,000
42,000
7,000
9,000
726,000
4,000
41,100
30,000
300
2,100
160,000
5,000
64,000
9,000
4,000
1885.
945,000
32,000
977,000
7,500
49,200
52,000
500
1,100
213,000
5,000
70,000
6,000
6,000
. 308,800
389,400
319,500
410,300
Total European stocks ....1,181,800 1,359,400 1,045,500 1,387,300
India"cotton afloat for Europe.
Amer. cott’n afloat for Eur’pe.
Egypt,Brazil,&o.,afltforE’r’pe
Stock in United States ports..
Stock in U. 8. interior towns..
United States exports to-day.
i137.000
r>n nnn
313.000
57,000
868,631
320,103
30,316
-t
»¿.non 1145,000
4.5 .non
184.000
405.000 379,000
39,000
17,000
863,361 1,025,290
270,905 414,172
22,098
23,445
99.000
99.000
329,000
27.000
802,225
200,972
20,400
Total visible supply.......... 2,907,850 3,148,764 3,049, ,407 2,865,897
Of tbe above, tbe totals of American and other descriptions are as follows :
American—
.
___ „ ^
Liverpool stock ............ . .bales 673,000 762.000 525,,000 727,000
Continental s to ck s .................. 180,000 284.000 257, 000 299,000
American afloat for Europe... 313,000 405.000 379 ,000 329,000
Jnited States s to ck ................ 868,631 863,361 1,025 ,290 802,225
United States interior stocks.. 320,103 270,905 414 ,172 200,972
20,400
22,098
23 ,445
(Jnited States exports to-day..
30,316
Total American............2 ,3 8 5 ,0 5 0 2,607,364 2,623,907 2,378,597
East Indian, Brasil, <&c.—
Liverpool s t o c k . . . . . . . . .. . . . . . . 174,000 198.000 184.000 218,000
32.000
17.000
10,000
London stock............................
26,000
62,500 111,300
Continental stocks.......... .
128,800 105,400
99.000
145.000
184.000
India afloat for Europe.......... 137.000
27.000
17.000
39,000
Egypt, Brazil, &o., afloat.........
57,000
Wn+ai mo at. TnrH» An
...
522.800 536,400 425,500 487,300
Total A m e r ic a n ..„ ? :::::::2,385;050 2,6071364 2,623,907 2,378,597
Total visible supply .......2 ,9 0 7 ,8 5 0 3,143,7643,049,407 2,865,897
Price Mid. Upl., Liverpool. . . .
53i6d.
4%d.
61sd.
Price Mid. Upl., New Y o rk ....
10»ieo. 9»i60.
8i316o.
HJflC.
h- H* ► r- M ►
OO *A
oo
tOK 8 tots
1
o© ►
O'CC
1®
\g
H
.
**
cc
os 6:
o^ o - IO?
‘ c
Uq K) Ito
to
o
a
©© ^ © « %
OOD ®
£ co ® G
CO **
1
i ©i®:
§2
CO © x § ®
«5
C
O®©X
o
ecu c OM o
a
«50 5 «50 5
2
ol-j ® *j-j
ti® ** « « **
gi® js:
I # »J
03
ti£ © 5 0 9 « « « o '®
iv. ® Dri ¿fiòO*3
0 0 _©_
a
5060
^
•j
2
« « **
1 aw :
I«: ;
(O
60 « © 5 0
oboe - ce
oo o
®w
X©
00©
coco
Q ÌX
© V,
i $
^
®
**
:
l|v
coco ~ co
£(x>OcL
CO)
05
9 !
X
CH
1d
►
◄
®
^
:
«■ « © ©
db db O o L
-s| y, 03
r-M
CO
1514 »
a
1®
a.
e © U OO
ISIS ® KU<O
1
05© **
1®
! ®i°:
m m Mir'
mm
tÓÙOtó
OnO
p>
COCO -4
COCO 3
o. u
1 ®M
COo OCO
£ eòo •ó
p g»T h e imports into Continental ports this week have been
35,000 bales.
. ,,
... .
.. .
The above figures indicate a decrease in the cotton in.sign»
to-night of 235,«14 bales as compared with the same date of
1887, a decrease of 141,557 bales as compared with the corres
ponding date of 1886 and an increase o f 41,953 bales as
compared with 1885.
A t t h e I n t e r io r T o w n s the movement—that is the receipts
for the week and since Sept. 1, the shipment# for the week,
and the stocks to-night, and the same items for the corres
ponding period of 1886-87—is set out in detail m the follow ing
statement.
hT
o
m
5? it o
cdb
o
le g a ili
mm
H* 8-® 4 #
tff'Sro e a P a S a S E S ®
8» 2.0
S trig B g
|® 2
3 g.g B i
“ I®-® S i
H P®?
o lì*
5gt<S>
t»
3D ». x
QQ Q
M1
! g i i fci
Q
.
Pr* •
©
O H N M N
-3-3
© IO®JbS-i-JO
® cno -1 os i-1w
i s i la f fl
g,| 2 ® ® F jB,fe| © | F
to'-*
«
toestseo© oim Òicoh
oSiw-a-itooiiotf^w w
J-1
iom - i - o£ x i s
H*05Wlf>'Wl3t0#.®lf*#“'O’ ©©lf*’-3l-‘ WC5
&
w
® IO05 H M IOM
© M I S I -* CO® 05
© © xxV fflts
-1 I5 ® X © X ©
05 © <1 IO 0“ -1 ®
co; io
©• tfi.05^0110
oo,
© èS S ?
osi ^
MWOCW
COCO
o ix
X ®
1d
5
®
**
:
H
cr f O co
CÒ * o (Ò
o
co
®©
X X
X X
1$
©M X
a
HH|
fililo ©x-3 ;
%
®
^
:
© «© ©
CO Ò O o b
K-CO CO
5050 9 5 0
© «® ©
•Includes sales in September. 1887, for September, 258,200; Sej>
tember-October, foT October. 570,200; September-November, for Now m ber. 481?600; September-Dee ember, for December, 1,027,400; Sep^e^ ^ TW e^ \ ^ m clm b S l1
above^cable, and shall continue each
« . S t tn ffivB the average price oi futures each day for eacb month. Ii
^ i l i b e f f S under each day following the abbreviation “ Aver f Thi
for each month for the week is also given at bottom of table.
a ^ransferab^O rders—Saturday, 10-SOc.; Monday. 10-50c.; Tuesday,
X o i o E ? Wednesday,------ 64 Thursday, 10-45c.; Friday, 10 55c.
w W10I0HI0
is! w h © x m
<|! © tow W13
<J©
M
WM ;
^
M
IO
MS
-B
s
§
! lag.
OrfUOCOtO -CpaMWM; ©®©MH<IW
©¡5©S-‘ -i®'fli-‘ www; ©oia©®© co
- .Ì M W W © ® © ® © ® ^ .
10
13
letto ©vicolo©
pi GjOQDC©W^* W01-^^0005c»
© 05
f - p
B B f Ì I
05 © M O «V l M © © a O» ■
© a © to < iw e o ia fflM .
q
C O © -0 © e * © W
»09
© © tf. OUO<115 co
x©
r*
out
MM-3 MMISta HIOOMM w©
©©X©l3l30'©WW0'M®M©W0't3UI
-JM©©rf;-©«l3©t8-*aiaM©CaxC'©©
«S
8?
X M-3 H15M
© 15© M® ©
lei x ls W© W13
© © ©
M 13 X
©©(-•©©Wlf-
^
CO^p <10000
llllfg S E $ S S S P $ | a g 8 |
X®
0»
è
© M -J 1 3 W W I3
© IO X 13 X 13 I—1
W O U 3 I3 W ® 1 3
The following exchanges have been made during the week :
-02 Pd toexch. 1,000 June for July. -22 pd. to exch. 400 Mar. for July.
•17 pd toex ch 100 Mar. for June. -07 pd. to exch. 100 Mar. for April.
•or ?>d to exch ?,000 Feb. for Mar. -06 pd. to exeb. 100 Apr. for May.
:£i? £2' % e ich 200 Mar. for Aug. -07 pd. to exch. 900 Mar. for April.
^7
To exch 100 Feb for Mar.
-26 pd. to exch. 1,400 Mar. for Aug.
T ®xcb 300 Mar. for May. -13 pd. to exch. 200 Mar. for May.
I I la', to exch! 400 Ftb. lor Aprf -14 pd. to exch. 300 Mar. for May.
£o © m o < © m i ì >.co © x
M © q -3 © © © a >
! 5 M X X M t O © M t O M ODJO
00 P P P
© M ® X « © © ® X W CO © © X ^ 05'tÌ ®
< H 5 © t 0 © ' l W t 3 l - ‘ t-‘ M < l X © ' ' l © C 0 © i a
< ) © © © X f f i l - ‘ l à C 5 © iO C ni-l >-1© l F - 0 5 ® M
BHOMM ■
C5M©©-r^;
liìig llis ìE ìiiì
H-3
MM
m m ©^*
M ^O W O W O ^H O :
©
4-1
©xwtotauKj
«’ SS
M M O © X Q D tO £ .
T h e V is ib l e S u p p l y o p C otton to-night, as made u p by cable
and telegraph , is as f o llo ws. The Continental stocks, as well a& titownw towns have been 186 bales m o r e than tbe san »
jfrngg f0r Great Britain and the afloat are this week’s returns,
THE CHRONICLE.
F ebruary 25, 1868.J
week last year, and since September 1 the receipts at all the
towns are 69,812 bales more than for the same time in 1886-7.
Q uotations for Middling Cotton at Other Markets.—
In the table below we give the closing quotations o f middling
cotton at Southern and other principal cotton markets for each
day o f the past week,
Week ending
Feb. 2 4 .
CLOSING QUOTATIONS FOR MIDDLING COTTON ON—
Satur.
Galveston ...
91516
New Orleans.
9 78
Mobile ........
9 1318
Savannah ...
9 1s16
Charleston .. 10*8 ® »4
Wilmington. 1 0
Norfolk........
l O ’ ia
B o s to n ........
10 %
Baltimore ... 1 0 <2
Philadelphia
10 %
Augusta.......
91516
Memphis___
9%
St. Louis.......
9 78
Cincinnati .. 1018
Louisville... 1 0
Jfon.
9 15 l6
9 78
913la
9 1 3 ,«
Tues.
Wednes.
9 78
9 78
9%
9 1 3 ,6
1018
9 78
9 78
1 0 1 ,6
10 %
1012
1 0 1 1 ,6
1 0 1 ,6
9 1 5 ,6
9%
9 78
105g
1 0 3 8 ® lg
10 1 1,6
03
C
m
9 1 5 ,6
9%
9 78
10
10
1018
10
Thurs.
Fri.
9 1 5 ,6
9 78
9%
91 3 ,6
1 0 1« ® H
9 7s
9 7s
9 78
9%
10
10^8
L038® Lj
1 0 H ,6
9 78
9%
9 7s
10
10
1 0 *8 ® %
9 78
10
105s
1 0 3 e ® i2
1 0 1 1,6
9 78
934
9 78
10
10
R eceipts from the P lantations. — The following table
indicates the actual movement each week from the planta
tions. The figures do not include overland receipts nor
Southern consumption; they are simply a statement o f the
weekly movement from the plantations of that part of the crop
which finally reaches the market through the outports.
Week
Unding—
Rece ts at the Ports. SVk at Interior To'ivns. Rec'pts from Plant'ns.
1886. 1 1187.
1838.
1886. 1 1887. 1 1888.
1886. | 1887. | 1888.
Jan. 20....... 110,31l)jl55.8£4 105,403 4*3,250 3-<e,428 423,832] 89,"67 132,567 92,033
“
27...... 134,804*132,131 90,130 476,S42|851,36l]398,012|117,8t6 117,464 64,310
Feb. 3...... 122,418 130.753 93,668 469,018 336,6l2'379,55e'115,089 116,004 80,212
% 10...... 105,792¡ 108,257 69,583 454,116 332,798I3C8.6631 90,895 104,443 88,690
“
~
17....... 102,524 86,5!-2 84,137 448,170js21,366 360,441 96,578¡ 75,150 75,915
24...... . 92,8671 »5,013 69.024 442,606 301,169 350,614 87,303 74,84« 59,197
The above statement shows—1. That the total receipts from
the plantations since Septeinber 1, 1887, are 5,162/81 bales;
in 1886-7 were 5,029,373 bales ; in 1885-6 were 4,963,603 bales.
2.—That, although the receipts at the outports the past week
were 69,024 bales, the actual movement from plantations was
only 59,197 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the same week were 74,846 bales and for 1886 they were
87,303 bales.
A mount of Cotton in Sight F eb. 24.—In the table below
w e give the receipts from plantations in another form, and add
to them the net overland movement to Feb. 1, and also the
takings by Southern spinners to the same date, so as to give
substantially the amount of cotton now in sight.
11887-88. I 1886-87. I 1885-86. I 1884^85.
Receipts at the ports to Feb. 24 4,835,897.4,776,234 4,536,847 4,390,034
Interior stocks on Fèb. 24 ini
excess of September 1 ..
326,784 253,139 426,756 199,267
Tot. receipts from plantat’ns 5,162,681 5,029,373 4,963,603 4,589,301
Net overland to Feb. 1 ............1 ¡■
792^413
M '
583,220. 559,199, 442,478
Southern consumpt’n to Feb. 1 240,000 194,000j 164,000, 144,000
J5
Total in sight Feb. 2 4 ........... 6,195,094*5,806,593 5,686,802 5,175,779
Northern spinners’ takings to1
Feb. 2 4 ........................
II,399.262 1,219.076 1.270,656 1,009,573
It will be seen by the above that the increase in amount in sight to
night, as compared with last year, is 388,501 bales, the increase as
compared with 1885-6 is 508,292 bales and the increase over 1884-5
-Is 1,019,315 bales.
26 i
been made toward the next crop, The theimometer ha»
ranged from 40 to 72, averaging 54.
Memphis, Tennessee.—We have had rain on one day of theweek, the rainfall reaching forty-two hundredths of an inch
Average thermometer 62, highest 71 and lowest 38.
Nashville, Tennessee.—Rsin has fallen on two days of theweek, to the extent of ninety-eight hundredths of an inch*
The thermometer has average d 51, the highest being 66 and
the lowest 36.
Mobile, Alabama .—It has rsined sfverely on two days
and has been showery on three days of the week, the rainfall
reaching five inches and seventy hundredths. Planting
preparations are backward on account of too much rain. The
thermometer has averaged 59, ranging from 46 to 68 .
Montgomery, Alabama .—It has rained heavily on five days
of the week, and is still raining. The rainfall reached four
inches and twenty-two hundredths, A lig cveiflow is threat—
ened. The thermr meter has ranged from 42 to 69, aveiaging 59.
Selma, Alabama .—W e have had rain on five days of the
w< ek to the extent of five inches and twenty hundredths.
Average thermometer 56 5, highest 63, lowest 45.
Auburn, Alabama .—It has rained preity steadily all the
week, the rainfall reaching four inches and seventy-nine hun
dredths. The thermometer has averaged 55 -4 , the highest
being 66 and the lowest 39. .
6
Madison, Florida .—Ic has rained on three days of the
week, the rainfall reaching two inches and eighty hundredths.
The thermometer has averaged 58, ranging from 44 to 74
Macon, Georgia.—Rain hts fallen on five days of the week
and roads are bad.
Columbus, Georgia.—It has rained on five days of the
week, the rainfall reaching seven inches and one hundredth.
The theimometer has ranged from 41 to 62, averaging 55. “
Savannah, Georgia.— the weather has been cloudy during
the week, with iam on five days, the rainfall reaching c ne
inch and five hundredths. Average thermometer 55 , highest
72, lowest 38.
7T
Augusta, Georgia.—It has rained on four days of the week,
the rainfall reaching fiu r inches. The thumometer has aver
aged 56, the higl eat being 74 and the lowest 31.
Albany, Georgia.—W e have had hard rain on four days o f
the week, the rainfall reaching eight inches. Farm work has
been stopped and plowed lands badlv washed. The ther
mometer has ranged from 44 to 68 , averaging 59 .
Charleston, South Carolina .—W e have had rain on four
d a js o f the week, the rainfall reaching one inch and sixty^six
hundredths. Average thermometer 57 , high sc 72 and low
est 37.
Sialebarg, South Carolina.—Rain 1 as fallen on three dai s
of the week to the extent of t v o inches an t forty-seven hun
dredths, and it is atill raining. The thermometer has averaged
53 2, the highest being 72 and the lowest 33.
Wilson, North Carolina.—W< have had rain <n three days
of the week, the rainfall reaching one inch and sixty-three
hunirtdths. The thermometer has ranged from 32 to 77, aver
aging 54.
The following statement we have also received byielegraph,
showing the height of the rivets at the points named at 3
o’clock Feb. 23, 1888, and Feb. 24, 1887.
Ft 6.23, ’ 88. Feb. 24*’87.
Feet. Inch. Feet. Inch.
New Orleans........... ..A bove low-water mark.
8
12
' 6
Memphis............................... Above low-watermark.
18
35
2
Nashville............... ...A bove low-water mark. 14
36
1
Shreveport . . . . . . . . . . . Above low-water mark. 20
13
4
Vicksburg...................Above low-water mark
22
40
9
India Cotton Movement from all P orts.—The receipts
W eather R eports by T elegraph .—As received by tele- and shipments of cotton at Bombay have been as follows for
^graph to-nigh*’, cur reports indicate that over a con iierable the week and year, bringing the figures down to Feb. 23. >
portion of the Atlantic and Gulf States the rainfall has be< n
BOMBAT RECEIPTS AND SHIPMENTS FOB FOUR TEAKS.
ve-y heavy du'ing the week, interfering with farm work,
Shipments
this week. Shipments Since Jan. 1.
Receipts.
which was already backward, and bad y washing lands in
Tear Great Conti- _ . , -jGreat Conti
some Idealities. At a few points overflows are threatened.
Since
Total. _This
Brit’n,
Britain
nent.
nent.
A?talWeek. ,Jan. 1.
Galveston, Texas.—It has rained hard on four days of the
week, the rainfall reaching four inches and sixty-five turn 1888
16,000 16,000 24.000 128,000 152.000 60,000 297,000
'd redtha. The thermometer has averaged 59, ranging from 1887 9.000 21.00030.000 44.000 145,000 189.000 46J100 , ,3(33-,000
1886
7.000
34.000
41,000
46.000 119,POO 165.000 49,000 —303,00 r>
50 to 68 .
1885 4.000 14,000|l8,000 24.000 83,QOO 107.000 30v000 ,201,0, OPalestine, Texas.—Rain has fallen on four days of the week,
to the extent of one inch and sixty hundre it be. The ther
According to the foregoing, Bombay appears to show an
mometer has ranged from 38 to 74, averaging 56.
increase compared with last” year in-‘ th e ’week’s receipts
San Antonio, Texas.—W e have had rain on five days of of 14,000 bales and a decrease in shipments o f 14,000 bales,' and
tbe week, the rainfall reaching forty-eight hundredths of an the shipments since Jan. 1 show a decrease of 37,000 bales.
inch. Average thermometer 55, highest 70, lowest 40.
The movement at Calcutta' Madras and mher f f l q i p k s for
New Orleans, Louisiana .—Rain has fallen on five days of the last reported week and since the 1st o f January. l6r tw o
the week, to the extent o f seven inches and two hundredths. years, has been as follows. “ Other ports” cover C eylor,
Tbe thermometer has averaged 61.
Tuticorin,.Kurrachee.and Coiionada.
Shreveport, Louisiana .—Rainfall for the week thirty-nine
Shipmentn fat; the week.
hundredths of an inch. The thermometer has averaged 57,
iShipments since January L .
highest 72 and lowest 45.
: Great
Conti
,
Great
, Total.
Columbus, Mississippi.—W e have had rain on four days of
Britain. nent.
Britain.) Continent. Total.
the week, the rainfall reaching two inches and sixty-eight
hundredths. The thermometer has ranged fiom 38 to 60, Calcutta—
1888.......
4 ,00a
8,000 12,000
,16.000
17,000
33,000»
averaging 50.
1887.......
3,000 16,000 19,000
18,000
i. 6,000
41,000»
Madras—
Ltland, Mississippi.—Telp&Thm not re eived.
.1888.......
4.000
- Little Rock, Arkansas.—Tha_.weather has been dry and
4,000
.1 8 87 .......
2,000
, ¡2 ,000
pleasant all the week until last night, when we had a good ¡All
others—
shower.; The rainfall reached sixty hundredths of an inch. The ] '■1888.....
1,000
1,000
11,000
6.000
17,000
1887.......
thermometer;has averaged, 53, ranging from 86 to 75.
10,000
4¿000
T4.0O0
- .Selena, Arkansas.—The weather has been cloudy during Total all—
•the week, with light raip on three days. The rainfall reache d
9,000 13.000
1888...;.. 4,000
31,000
23.000
54.000'
•fifty'Seveo hunchedtbs of an inch, Not much progress has „1887..L ... '3,000 16,000 19.000
.30,000
30.000
'Gu.OUO
[VOL. XLVI.
* ~ THE CHRONICLE
B— '' '■
“
-----
~~
Comparative P ort R eceipts and Daily Crop .M ovement*
■ The above totals for the week show that the movement from
the ports other than Bombay is 6,000 bales less than the same —A comparison of the port movement by weeks is not accurate,
week last year. For the whole of India, therefore, the total as the weeks in different years do not end on the same day of
shipments since January 1, 1888, and for the corresponding the month. W e have consequently added to our other standing
penods of the two previous years, are as follows :
tables a daily and monthly statement, that the reader may
EXPORTS TO EUROPE FROM ALU INDIA.
constantly have before bim the data for seeing the exact relative
movement for the years named.
The movement since
1886.
1887.
1888.
September 1, 1887, and in previous years, has been as follows:
Shipments
to alt Europe
from—
B om b a y ..........
A ll other ports.
Total..........
Since
Jan. 1.
16,000
13,000
152,000 30.000
54,000 19.000
Since
Jan. 1.
This
week.
Since
Jan. 1.
This
week.
This
week.
189,000 41,000
3,000
60,000
249,000 44,000
29,000| 206,000 49,000
Monthly
Receipts.
165,000
38,500
203,500
Tear Beginning September 1.
1887.
1886.
1885.
1884.
Sept’mb’r 654,776 359,203 385,642 345,445
October.. 1,213,404 1,034,450 1,055,524 1,090,385
Novemb’r 1,178,436 1,197,259 1,083,552 1,122,164
Decemb’r 963,584 1,161,886 1,069,920 1,104,211
January. 527,570 644,681 543,393 475,757
1883.
1882.
343,812 326,656
1,046,092 980,584
1,030,380 1,094,697
1,059,653 1,112,536
487,729 752,827
A lexandria R eceipts and Shipments —Through arrange
ments 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 follow
4,537,770 4,400,479 4,138,031 4,137,962 3,967,666 4,267,300
ing are the receipts and shipments for the past week and tor Total.......
Pero’tage of tot. port
the corresponding week of the previous two years.
70-89
81-80
86-64
76-68
82*71
receipts Jan. 31 ..
Alexandria, Egypt,
Feb. 22.
1886-87.
1887-88.
Receipts (cantars*)—
This week—
Since Sept. 1
Exports (bales)—
To Liverpool.............
To Continent............
Total E urope........
1885-86.
36,000
2,724,000
Since
This
week. Sept. 1.
45,000
2,727,000
Since
This
week. Sept. 1.
50,000
2,663,000
Since
This
week. Sept. 1.
2,000 207.000
4,000 123.000
9.000 216,000
2.000 113,000
5.000 192,000
2.000 115,000
6,0001330,000 11,000 329,000
7,000 307,000
* A cantar is 98 pounds.
_
This statement shows that the receipts for the week endmg
Feb. 22 were 36,000 cantars and the shipments to all Europe
6,000 bales.
Manchester Market .—Our report received by cable to-night
from Manchester states that the market is steady for
both yarns and shirtings. W e give the prices for to-day
below, and leave those for previous weeks of this aDd
last year for comparison:
1887.
1888.
32s Cop.
Twist.
a.
a. s.
Jan.20 71316-8 7 16 5
“ 27 718I6—8716 5
Eeb. 3 713l6—8716 5
“ 10 7% -®838 [5
“ 17 ¡7%, @838 5
« 24 17% ®838 l5
8*4 lbs.
Shirtings.
a. s.
9 @7
9 ®7
8*a®7
8 ®7
8 ®7
8 ®7
a.
2
2
1*3
1
1
1
Oott'n
Mid. 32s Oop.
TJplds Twist.
a.
5»8
5^8
5»16
5*2
5»16
5916
a.
7*4
7*4
7*8
7*8
7*8
7*8
8 *4 lbs.
Shirtings.
a. s. a.
® 778
® 778
®73t
®73jfc
®73l
®73i
5
5
5
5
5
5
s. a.
9*2®6 10*3
9*a®6 10*3
9*3®6 10*3
9*3®6 10*3
9*3@6 10*3
9*s®6 10*3
Oott'n
Mid.
TJplds
a.
5?16
8?i6
5*8
5*e
5*8
53j6
This statement shows that up to Jan. 31 the receipts at the
ports this year were 137,291 bales more than in 1886-7 and
399,739 bales more than at the same time in 1885-6. By add
ing to the totals to Jan. 31 the daily receipts since that time
we shall be able to reach an exact comparison of the move
ment for the different years.
1887-88. 1886-87. 1885-86.
1884-85. 1883-84. 1882-83.
To. Jan 31 4,537,770 4,400,479 4,138,031 4,137,962 3,967,666 4,267,300
21,924
13,650
S.
19,321
23,654
15,603
Feb. 1 ....
30,723
14,678
10,449
24,095
16,569
14,001
H 2....
20,977
S.
10,524
15,848
11,183
16,253
“ 3 ...
S.
21,620
14,439
19,676
34,497
18,630
“ 4 ....
35,832
16,604
9,087
2&.073
17,695
S.
“ 5 ....
26,666
28,992
18,847
14,260
S.
16,930
« 6 ....
8,862
18,808
17,453
19,509
S.
20,679
I 7 ....
23,038
S.
24,223
18,973
22,913
13,914
“ 8 ....
14,972
40,557
17,925
7,941
19,626
12,668
“ 9 ....
18,730
10,601
S.
18,885
13,227
16,288
“ 1 0 ....
S.
19,319
8,348
26,972
15,970
14,078
“ 1 1 ....
25,147
15,790
11,257
15,860
18,078
S.
“ 1 2 ....
26,599
10,975
14,581
17,022
S.
15,062
“ 1 3 ....
23,150
9,184
15,754
11,363
17,423
8.
“ 1 4 ...
21,200
26,158
S.
14,875
23,538
10,438
“ 1 5 ....
31,304
13,415
10,828
13,092
16,140
12,170
“ 1 6 ...
17,131
8,523
S.
12,203
13,821
14,966
“ 1 7 ....
S.
5,490
10,397
19,189
12,126
11,321
“ 1 8 ....
27,754
7,183
10,937
9,013
19,877
S.
“ 1 9 ....
20,859
10,529
8,027
16,172
S.
10,208
“ 2 0 ....
17,739
3,634
8,047
21,880
12,724
S.
“ 2 1 ....
15,316
S.
16,777
17,841
15,678
10,928
“ 2 2 ....
35,649
7,799
18,419
16,583
10,086
13,087
“ 2 3 ....
18,471
7,637
S.
14,867
13,758
13,757
“ 2 4 ....
E xports of Cotton G oods from Great B ritain .—Below
w e give the exports of cotton yarn, goods, &c., from Great
Britain for the month of January and since October 1 in
4,757,909 4,506,171 4,358,812 4,282,150 4,784,864
1887-88 and 1886-87, as compiled by us from the British Board Total — 4,835,897
Percentage of total
-of Trade returns. It will be noticed that we have reduced the
79-50
91-25
88-28
83-50
portrec’pts Feb.24 89-42
movement all to pounds.
This statement shows that the receipts since Sept. 1 up to
7btal of AU,
Cloth.
Yarn it Thread
to-night are now 77,988 bales more than they were to the same
000s omitted.
1887-88 1886-87 1887-88. 1886-87. 1887-88 1886-87 1887-88]1886-87. day of the month in 1887 and 329,726 bales more than they
K
1 —
Lbs.
Lbs. Lbs. Lbs,
Yds.
Yds.
Lbs. 1 Lbs.
were to the same day of the month in 1886. W e add to the
24,234 23,612 409,967 428,415 74,539 77,894 98,773 101,506 table the percentages of total port receipts which had been
76,828
103,125
101,306
77,376
422,554
425,565
25,749
24,478
November........
received to Feb. 24 in each of the years named.
December......... 24,9631 20,485 455,815 878,634 82,875 68,842 107,888 89,327
T he E xports of Cotton from New York this week show an
223,564
309,736
234,790
292,139
1229,603
Tot. 1st quarter. 74,946 68,575 1291,347
January........... 21,7051 22,111 535,880 444,793 97,433 80,871 119,138 102,982 increase compared with last week, the total reaching 22,514
87® bales, against 15,885 bales last week. Below we give our usual
976
Stockings and so"ks
7,785
7,683
table, showing the exports o f cotton from New York, and the
Total exports cotton manufactures.. ; ....................................... 437,635 403,676 direction, for each o f the last four weeks; also the total exports
and direction since September 1, 1887, and in the last column
The foregoing shows that there has been exported from the Che total for the same period o f the previous year.
United Kingdom during the four months 437,635,000 lbs. of
manufactured cotton, against 403,676,000 lbs. last year, or an EXPORTS OF COTTON (BALES) FROM NEW YORK SINCE SEPT. 1,1887,
■Same
increase of 33,959,000.
Week en ding—
Total
period
Exported to—
since previ’us
Feb.
Feb.
E ast I ndia Crop.—From Messrs. Gaddum, Bythell & Co.’s
Feb.
Feb.
23. Sept. 1. year.
16.
9.
2.
Cotton Report of date Bombay, January 20, we have the fol
Liverpool......................... 11,821 24.832 11,512 16,317 288,200 280,137
low in g :
2,777 61,803 42,190
2,313
Th« dallv butvdIv in the Oomra markets Is slowly increasing, but is Other B ritish p o r ts ....... 1,126
very small Indeed yet for this time of the year, and the delay m bringing
the cotton forward inface of the very high prices rtotogis strengthening
the belief that the crop will be a small one. Reports from the DhoHera
districts are very cheerful, and with a continuance of seasonable weather
w em a y expect good quality, and also some increase in the yield. The
Broach crop is progressing very favorably, and from various quarters m
the districts advices now call file crop a full one. No change has been
S a d c to X
e S a t e of Western, Compta, Dharwar a n d W ie v e lly
d op e .
To t a l t o G t . B r it a in .. 12,947 27,145 11,512 19,094 350,003 322,327
H a v re .............................
Other French p o r ts .......
1,007
936
470
200
187 24,306 35,625
300
187 24,606
670
936
33 7,059
350
B rem en.....................
Hamburg . . . . . . . . . . . ---- 1,000 1,403 ’ *414 1,424 55,422
85,240
1,326
3,289
750
3,129
Jute B utts, Bagging , &c.—The market for bagging has Other ports.....................
147,721
2,7$3
3,703
been model ately active, and email lots are moving for present Total to No . E urope .. 4,479 2,153
wants c f consumers. Prices are steady and quoted at 5J£c.
100 3,635
337
for 1U lb., 6 c. for
lb., 6 ^ c . for 2 lb. and 7c. for standard 9p’n,Op’rto,G ibr’ lt’r,&c
350 9,050
**5*16
Total F r e n c h ..............
A ll oth er.........................
1,007
35,625
25,542
60,833
50,719
137,094
4,653
12,655
grades. There has been some inquiry for jute butts and we
450 12,685 17,323
518
337
near of transactions in spot lots at 2 @ 2 ^ c . for paper grades Total Sp a in , & o ...........
and 2 ^ (a 2 ^ c . lor bagging qualities, There is seme inquiry
535,015 512,369
22,514
15,885
Grand T o t a l ............... 18,770 80,750
for lota to arrive,
__ .
F ebruary
THE CHRONICLE
25, 1888.]
T h e F o l l o w in g a r e t h e G r o s s R e c e ip t s o f C o t t o n at
New York, Boston, Philadelphia and Baltimore for the past
week, ani since September 1, 1887.
Receipts
Savannah..
M obile........
Florida.......
V irgin ia....
North’n p’ ts
Tenn.,&c....
Foreign......
N ew
Vo r k .
This Since
week. Sept. 1 .
4,934
6,517
8,885
203,246
273,386
251,748
25
4,385
3,022 114,653
553 35,214
7,480 151,910
58
3,390
63,474
28
2,615
B o sto n .
P H IL A D E L P H ’A
B a l t im o r e .
This Since This Since
This Since
week. Sept. 1. week. Sept. 1 . week. Sept. 1 .
308
1,00)
1,000
60,233
3,800
455
1,000
725
5,686
1,997
48,953
214,320
61,921
This year. 32.832 1,105,68» 8,71« 392,232
Last year.. 24,441 958,076 16.693 338,980
23,635
324
49,657
5,075
641
17,250
3,440
3,384
81,970
506
22,048
2,060
27,527
263
Satur.
Mon.
Tues.
Wednes. Thurs.
Liverpool, steam d.
764
S32
332
....
....
Do
sa il...«/.
....
Havre, steam ___c.
932
932
932
....
....
....
Do
s a il......... c.
Bremen, s te a m .. e.
U32
U 82
1X32
....
....
Do
sail....... c.
....
Hamburg, steam d.
964
B32
964
....
....
Do
s a il...c .
....
Amst’d’m, steam, c.
30*
30*
30*
....
....
D o via Leith.of.
....
Reval, steam ___ d. 1364~1764 1364® I4 1864'®34
....
....
....
D o sail.......... d.
Barcelona, steam d.
732
732
732
Genoa, stea m . . . if.
732
1364®732 13g4@732
Trieste, steam ...if.
■*4
Antwerp, steam d.
764'
764
764
Fri.
S32
*32
9S2
932
U 32
U33
....
....
....
. ...
....
....
w
0
964®B32 964®B32
pi
....
....
30*
30*
....
....
1364®^ 13C4® ^4
....
....
1364®732 1364®78*
1364®732 13fu ® 7a»
H
764
764
* Per 100 lbs.
1,602
68,008
5,764
162,688
3,309
80,165
9,128
172,551
L iverpool .—By cable from Liverpool we have the follow
ing statement o f the week’s sales, stocks, &c., at that port.
W e add previous weeks for comparison.
Shipping News .—The exports of cotton from the United
States the past week, as per latest mail returns, have reached
71,416 bales. So far as the Southern ports are concerned, these Sales of the week............. bales
Of which exporters took___
.are the same exports reported by telegraph and published in
Of which speculators took ...
the Chronicle last Friday. W ith regard to New York we Sales American.........................
Actual export............................
include the manifests of all vessels cleared up to Thursday.
Forwarded ...............................
He w Y ork —T o Liverpool, per steamers Arabic, 5,000
Celtic,
2,122___City of Richmond, 2,743___ Etruria, 20___ Euclid,
183___Italy, 2,519___ Lake Ontario, 2,500___Wyoming,
1 ,2 2 7 ........................ ......... ................................................... . 16,317
To Hull, per Steamer Martello, 1,277.................. ...................... 1,277
To Leith, per steamer Crystal, 1,500.......................................... 1,500
To Havre, per steamer La Gascogne, 187..................................
187
33
To Bremen, per steamer Ems, 33......................... .....................
To Hamburg, per steamers Lessing, 774___Polynesia, 650 .. 1,424
To Antwerp, per steamer Waesland, 276..................................
276
To Gottenburg, per steamer Rosario, 1 ,0 5 0 .............................
1,050
100
To Barcelona, per steamer Entella, 100....................................
To Genoa, per steamers Entella, 100___Italia, 250 ..............
350
H ew Orleans—To Liverpool, per steamers Counsellor, 4,724...
Haytien, 4,623___Venezuelan, 2,570...................................... 11,917
To Havre, per ship Lydia Skoliield, 3,025................................ 3,025
To Salerno, per bark La Marinccia, 1,835 ................................ 1,835
■Charleston—To Liverpool, per steamer Newcomen, 4,966........ 4,966
To Barcelona, per steamer Lemuria, 4,200............................... 4,200
Wilmington—To Liverpool, per bark Lizzie Wright, 3,389.......... 3,389
N orfolk —To Liverpool, per steamer Fern Holme, 6,521............ 6,521
To Bremen, per steamer Netley Abbey, 1 ,400......................... 1,400
Hewport News—To Continent, p e r ------- , 3 7 ................................
37
B altimore —To Liverpool, per steamers Lake Huron, 1,905.. .1
Vancouver, 3,986....................................................................... 5,891
To Bremen, per steamer Rhein, 5 5 0 ..........................................
550
B oston—To Liverpool, per steamers Cephalonia, 919: Kansas,
_ 3,054..........
3,973
P hiladelphia —To Liverpool, per steamer British Prince, 1,098. 1,098
To Antwerp, per steamer Nederland, 1 0 0 .................................
100
Total stock—Estimated............
Of which American—Estim’d
Total import of the week........
Of which American...............
Amount afloat..........................
Of which American...............
Feb. 3.
65.000
8,000
3.000
49.000
6.000
23.000
758.000
573.000
96.000
79.000
292.000
270.000
Feb. 10.
61,000
5.000
3.000
48.000
7.000
24.000
840.000
661.000
166,000
153.000
214.000
187.000
Feb. 17.
63.000
4.000
6.000
49.000
6,000
20.000
852.000
668.000
90.000
66.000
217.000
191.000
Feb. 24.
64.000
4.000
5.000
48.000
7.000
21.000
847.000
673.000
77.000
69.000
186.000
160,000
The tone of the Liverpool market for spots and futures each
day of the week ending Feb. 24 and the daily closing prices
o f spot cotton, have been as follow s:
Spot.
Saturday Monday. Tuesday. Wednes. Thursd'y. Friday.
Fair
Market, {
12:30 p .m. $ business
doing.
Mid.Upl’ds.
t558
s i6
Mid. Orl’ns.
Sales.......... io,ooo
Spec. & exp. 1,500
Futures.
Market, (
12:30 p .m. $
Qniet.
Market, £
4 P. M. $
Quiet.
Freely
offered.
^?16
53s
10,000
1,000
Fair
buyers’ In buyers’ business
Steady. Infavor.
favor.
doing.
5916
ȏ*
5“8
5°8
5«8
5«b
10,000
10,000
10,000
10,000
1,500
1,000
1,000
1,000
Quiet at
1-64 de
Steady.
cline.
Quiet and Steady.
steady.
Qniet.
Quiet.
Quiet.
Dull.
Barely
steady.
Barely
steady.
The opening, highest, lowest and closing prices o f futures at
Liverpool for each day o f the week are given below. These
The particulars of these shipments, arranged in our usual prices are on the basis of Uplands, Low Middling clause, unless
otherwise stated.
form, are as follow s:
Total.......................... .................................................................... 71,416
A.mwerp
Hull
Brem. and
Genoa
Liver- and
and
Gotten-Barcer- and
pool. Leith, Havre. Hamb. bürg.lona. Salerno. Total
Hew York . 16,317 2,777
187
1,457 1,326
100 350 22,5L
H. Orleans. 11,917
3,025 .................................. 1,835 16,77'
Charlest’n . 4,966
................................................4,200 ..
9,16<
Wilmingt’n 3,389
..........................
3,38$
Norfolk___ 6,521
1,400
..........................
7,92:
Newport N ...............
37
Baltimore . 5,891
550
6,44:
Boston....... 3,973
3,971
Philadel’ a . 1,098
100
1,191
T o t a l---- 54,072 2,777 3,212 3,444 1,426 4,300 2,185 71,41(
Below we add the clearances this week o f vessels carrying
cotton from United States ports, bringing our data down tc
the latest dates :
G alveston—For Vera Cruz—Feb. 17—Steamer Whitney, 803.
H ew Orleans—For Liverpool—Feb. 17—Steamer Hugo, 5,413.
For Hamburg—Feb. 18—Steamer City of Manchester, 1,991.
For Barcelona—Feb. 17—Steamer Pio IX., 3,567.
For Genoa—Feb. 18—Steamer Sidonian, 2,753.
For Leghorn—Feb. 18—Steamer Sidonian, 300.
M obile—For Liverpool—Feb. 18—Steamer Galveston, 5,308.
SAVANNAH—For Bremen -F eb. 20—Steamer Lizzie English, 3,200.
W est P o in t —For Liverpool—Feb. 21—Steamer Glenfleld,------- .
B oston—For Liverpool—Feb. 14—Steamer Iowa, 2 ,8 6 8 ....Feb. 1 5 Steamers Catalonia, 781; Venetian, 2,896.
B altimore—For Liverpool—Feb. 20—Steamer Circassian, — — .
Rp* The prices are given in pence and OUhs thus:
4 63-64<f., and 5 01 means 5 l-64d.
Bat., F eb . 1 8 .
February..
Feb.-March
Mar.-A pill.
April-May..
May-June..
Jnne-July..
July-Aug...
Aug.-SeDt,.
Sept.-Oct...
ATon., F eb . 2 0 .
Open High Low. Clos. Open High Low.
d.
A.
d.
d.
d.
a.
d.
535 5S5 535 535 534 5 34 5 33
535 5 35 535 5 35 5 34 5 34 583
5 36 5 36 5 36 536 5 35 5 35 534
5 87 5S7 5 37 5 37 5 37 5 37 5 36
539 5 39 5 39 5 39 5 38 5 38 5 37
5 41 5 41 5 41 541 5 40 6 40 539
5 43 5 43 5 43 5 43 5 42 542 5 41
543 5 43 543 5 43 5 42 542 5 41
543 543 5 43 543 5 42 542 541
W ednes. ,F eb . ’A3.
Tnes., F eb . 2 1 .
Clos. Open High Low. Clos.
d.
5 33
533
5 34
536
5 37
5 39
5 41
5 41
5 41
T h urs., F eb. 2 3 .
Open High Low. Clos. Open High Low.
d.
A.
a.
d.
d.
d.
d.
633 5 33 533 5 33 533 5 33 533
533 533 533 5 33 533 5 33 533
534 5 84 5 84 534 5 33 533 5 33
5 36 536 536 536 535 5 35 535
5 37 5 37 537 587 5 37 5 37 5 37
539 589 539 5 39 539 539 5 39
5 41 5 41 541 5 41 541 5 41 5 41
541 5 41 541 5 41 5 41 5 41 541
541 541 541 541 541 5 41 5 41
4 63 meant
d.
5 33
5 83
5 34
5 86
5 38
5 40
5 41
5 41
541
d.
5 34
534
5 35
5 36
538
5 40
5 42
5 42
542
d.
5 33
5 33
534
536
5 33
540
5 41
5 41
5 41
d.
534
534
5 35
5 3d
5 38
5 40
542
542
542
F r l.. F eb . 2 4 .
Clos. Open High Low., Clos.
d.
d.
a.
d.
a.
February...
5 33 533 533 533 533
Feb.-March
533
5 33 533
533 533
Mar.-April.
533 534 534 533 533
April-May.
535 535 535 535 533
5 37 5 37 537 537 537
Below we give all news received to date of disasters to ves1 May-June..
June-July..
5 39 5 39 539 539 5 3 a
sels carrying cotton from United States ports, &c.
July-Aug ..
5 41 5 41 541 540 540
T allahassee, steamer, from Savannah, arrived at New York, Feb. 17, Aug.-Sept..
541 5 41 541 540 3 40
laden with about 700 bales of cotton, 1,175 barrels of rosin ana Sept.-Oct..
5 41 5 41 5 41 540 543
300 barrels of oil, together with lumber and pig iron. She began
discharging her cargo about 3 P. M., on the 17th, Shortly after 7
o clock, when the hatches of the lower forward hold were opened,
a blaze sprang up from the cotton stowed below. Over sixteen
bales were damaged by fire.
B R E A D STU FFS.
T an carville , steamer (Fr.), Franohemore, from New Orleans, Jan. 26,
F riday , P. M., February 24,1888,
and Newport News, Feb. 2, arrived at Havre, Feb. 18, with her
2£'r^ik0i1
The hold was flooded, but the fire was burning on
There was a steadier tone to the market for flour and meal
the 19th. Most of her cargo is damaged.
W inchester, steamer (Br.)—On Feb. 10th, at 5-30 A. M., after about during the first half of the week under review, but #ith the
you bales cotton nad been reloaded on steamer Winchester, at Hermuda m distress, from New Orleans for Sebastopol, the cotton was depression in the grain markets thit occurred yesterday
found to be on tire. With assistance of two tugboats and other ap- values became weaker.
The regular trade was at about
pliances the tire was extinguished, and 50 bales o f cotton were
found badly damaged by salt water. Strong suspicions exist that steady prices, but to close out considerable lines promptly on
it was the work of an incendiary.
c Cotton.freights the past week have been as follows;
arrival concessions were neoessary and were made. To-day
the market was unchanged, with a better demand for patents*.
J*264:
TH E
CHRONICLE,
•The wheat market showed considerable strength down to
th e close of Wednesday’s business. Speculation revived and
there was a good business for export, mainly to the Peninsula.
B&t on Thursday an increase in the quantity afloat for the
European markets, weak cable advices and good spring
weather caused a sharp decline in the later dealings, the bull
party quite losing confidence in their ability to force a higher
range of values. To-day sn farly decline was followed by
some advance, with a good export business, mainly in No. 2
red winter at 90390 5-16c., delivered.
DAILY CLOSING PRICES OP NO. 2 RED WINTER WHEAT.
Sat.
... 89%
... 90%
.. 91%
.. 91%
Mon.
89%
90 %
91%
91%
91
.. 90%
... 94%
94%
Tues.
89%
90%
91%
91%
90 %
___
94%
Wed.
w
•o
pî
p
:
Thurs.
88 %
89%
9058
90%
8978
895s
9338
Fri.
8938
903s
9118
91
9038
89 78
Sat.
...
..
...
..
59%
59%
59%
59%
..
60%
Mon.
59%
59%
59%
59%
...è
60
60%
2 MIXED CORN.
Wed. Thurs.
Tues.
581a
:
59%
5812
59
w
58i4
59%
o
5818
59
p ■
H
5914
59%
5958
—
;
Fri.
58%
59%
58%
Sat.
Mon.
Tues.
Wed.
Thurs.
38
375a
p,^
3.%
3778 3r>s
*,
,
¿Lf*
.itarch delivery.................. 38%
April delivery................... 38 4
May delivery................. 38%
---•
1888.
2,347,970
1887.
1,926,753
*1886.
---------1,472,890
‘ 1885.
1,824,880*
W heat...
C om .......
Oats.......
Barley...
Rye........
2,900,222
7,078,624
5,958,889
1,815,949
223,339
2,160,926
4.260,519
4,937,427
1,408,848
93,442
2 / 59,897
9,507.308
5,999.138
2,240,803
241,241
3,179,853»
15,108,644
5,082,389*
1,114,772
308,321
Total grain... 17,977,023
* Include one week extra.
12,861,162
20,148,387
24,793,970«
Below are the rail shipments from Western lake and river
ports for four years:
1888.
Week
Feb. 18.
1. 362,744
Mon.
March delivery................. 40% 39%
•April delivery........... « «
-•••
May delivery.................... 40*8
39%
Tues.
Wed.
395s
p,w
v|2.
,
Thurs.
39
gX
oj
. 2,619,862 1.749,332 3,054,996 2,180,228-
Barley,
bush.
255,252
253,282
223,696
245,013
Tot. 4 wks.. 1.353,799 1,692,169 3,338,859 3,654,874
4 weeks *87.1,451,647 1,900,234 2,832,336 2,883,678
Bye,
bush.
22,660
17,693:
30,514:
43,281________
977,243 114,148
804,208 55,307'
The receipts o f flour and grain at the seaboard ports for the
week ended Feb. 18, 1888, follow :
R ye,
Oats, Barley
bush.
bush.
hush.
4,440320,000 169,870
90l>
86,785 17,445
7,500
2,100
53,853 26,400
44,100
........ ‘ 4.800*
1,346$.
........
17,962
Oorn,
bush.
74,800
140,910
1,200
19.988
100,022
6,729
450
126,157
Fri.
37%
37%
37%
Total week. 273.786
Cor. week ’87.. 258,815
155,879 469,806
561,472 1,114,725
Fri.
39
39
39
Flour................. bbls.
1888.
1,706,416
1887.
2,101,758
*1886.
1,642,209
Wheat............bu sh .
Com
Oats
Bariev..1...................
R y e .... . . . . . . . . . . . . .
1/359,432
3,167,303
3,224,268
838,060
67,6o0
5,309,315
6,532,474
4,347,913
900,411
94,148
1,293,046 5,163,200*
16,923,207 17,864,2404,395,949 4,340,034
1,185,260 1,237,470
75,903
170,6/1
8,856,713 17,184,261
» Include one week extra.
23,873,365 28,775,632r.
5912
5 9 78
Southern baiters’ and
family brands.........$3 50®$4 20
Bve flour, superfine.. 3 30® 3 60
Fine..........
2 30® 2 50
Corn meal—
Western, & c . . . . . . . . 3 00® 3 25
Brandyw ine..... . . . 3 20® 3 25
Buckwheat flour, per
100 lbs..................... 2 20® 2 30
GRAIN
Wheat,
Corn,
Oats,
bush.
bush.
bush.
357,8761,024,427 959,647
466,531 837,6951,052.071
416,398 804,845 924,518
451,364 671,892 718,638
Week
Flour
ending—
bbls.
Feb. 18i’88. 362,744
Feb. 1 1 /8 8 . 366,521
Feb. 4 /8 8 . 339,848
Jan. 2 8 /8 8 . 284,686
Wheat,
bush.
|12,100
39,511
40,800
20,846
19,994
22,178
5 8 78
PLOUR.
Oats—Mixed............
•Wheat—
a
__ ^
W h ite..... . . . . . . . . .
Spring, per bush... 85 ® 93
No. 2 m ixed...........
—Spring So. 2 . . . . . . . 87%® 89
No. 2 white.............
ft Bed winter No. 2 ... 89 ® 90%
Barley—
. Red w inter............ 86 ® 92
Canada No. 1 .........
..........85 ® 92
Two-rowed State..
Corn—WeBt’n mixed. 57%® 60%
Six-rowed State.. . .
•West’ll mixed No. 2. 58 %® 60%
Milwaukee No. 2 ...
Wèstern white....... 59 ® 62
Malt—
State, 4-rowed.
62
Bi Western yello w .... 59 ®
State, 2-rowed.......
. 8 White Southern. . . . 60 ® 64
B
u
ck
w
h ea t..... . . . . .
: BT6t ”
Staté &Pa., $ busb. 72 ® 75
, T n e m o v e m e n t u i ureauam uo ty
1885.
Week
Feb. 21.
141,898-
The rail and lake shipments from same ports for last four
weeks were:
........
*1885.
2,150,080*
The exports from the several seaboard ports for the week
ending Feb. 18, 1838, are shown in the annexed statement:
Exports
from —
Wheat.
Bush.
New York 349.151
75,178
Boston...
Portland.
N. News.
36% » 39
Norfolk..
37 %® 43
18,000
37% ® 39% Philadel.
24,000
39 ® 40% Baltim’re
69,118
N-. Orl’n s.
Riehm’d .
95 ®1 00
85 ; ® 88
Tot. w ’k. 535,447
88 ® 92
8’me time
88 ® 92
lß87. ... 1,370,379
1 00 ®1 05
90 ® 95
The destination
66 ® 67
statement below, prepared by us from the figures of the New
York Produce Exchange. W e first give the receipts at Western
ltke’ ^hd river ports, arranged so as to present the compara
tive movement' fo r the week ending Feb. 13,1388, and since
August, for each o f the last three years:
17,382
547,582 215.815 11.440421,777 206,205 31 ,91 0
The total receipts at th i same ports for the period from Jau.
1 to Feb. 18, 1883, compare as follows for four years:
Bye and tuckwbeat have been quiet, but about steady.
Bailey is very dull and unsettled; quotations are for the most
part nominal. Barley malt is also dull and barely steady.
Total g r a in ..... . . . . .
The following are the closing quotations:
.......i s # bbl. $2 10®$2 60
•Superfine.. . . . . . . . . . . . 2 3 5 ® 3 0 0
Spring wheat extras. 2 65® 3 l o
Minn, clear and stra’r. 3 50® 4 3 d
Wintersliipp’gextras. 2 75® 3 15
Winter X X and X X X . 3 25® 4 40
^Patents........................ 4 10® 4 90
Southern supers........ 2 65® à oo
South’n com. extras.. 3 00® 3 40
1886
Week
Feb 20.
178,918
237,75T
269,419
518,185
495,018 1,546,974 1,375,811
444,429
960,809
568,801
98,533.
243,920
161,033
24,19833,874
6,295
Wheat......................... bushi. 357,876
. 1,024,427
. 959,647
. 255,252
Barley........................
.
22,660
Rye.............................
DAILY CLOSING PRICES OP NO, 2 WHITE OATS.
Sat.
1887.
Week.
Feb 19.
329,254
Flour,
bbls.
At—
Naw York........ 111,957
B o s to n ...... . . . 55,138
4,345
Montreal.........
Philadelphia... 18.456
B altim ore..... 67,427
5,285
Richmond. . . .
Norfolk, V a ...
New Orleans... 11,178
58i2
l)£tve'steadily given way owing to the dulnets of trade
a td the ir erc'asing desire to reahz°, in the regular way as
well f s in speculative holding3. To-day full receipts again
weakened prices for parcels on the spot.
DAILY CLOSING PRICES OP NO. 2 MIXED OATS.
F lo u r ... .
9314
Indian corn showed contiderable strength on Saturday last,
lu t immediately weakened and jesterday fell oil smartly
under the lots of confidence among holders. But the lower
prices increased theexport movement, considerable shipments
having been made to British ports. T oday the market
<pined dull snd weakj tpeculators for the rise being disap
p o in te d with the smalt local demand, but the close was
Bt6 &dier.
DAILY CLOSING PRICES OP NO.
[V ol. X 1 A Ï ,
Oorn.
Bush.
133,257
58,659
Flour.
Bbls.
98,944
50,935
Oats.
Bye.
Peas.
Bush.
1,813
Bush.
Bush.
1,554-
113,000
12,544
4,286
78,854
119,998
894
111,963
........ 1
.........
549,421 233,913
........
1,813
180,665
13,360
673,605
1,554
8,087
55,902,
of these exports is as below,
corresponding period of la3t year for comparison.
Flour.
Exports
1887.
for week ■1888. Week,
Week,
to—
Feb. 18. Feb. 19.
Wheat.
11888.
Week,
Feb. 18.
1887.
Week,
Feb. 19.
Corn.
■>1887.
i 1888.
fWeek,
■Week,
Feb. 18. Feb. 19.
j Bush.
Bush.
Bush.
'..Bush.
yjibls.
Bbls.
Un.King. 198,424 133,511 272,308 : 823,678 373/192 577,629'56,593
167/174
263,139
546,681
:
2,802
3,500
Cont’n
t
..
: Barley.
Oats.
Rye.
Com.
Wheat.
29,885
Receipts at— i ,Flour.
2-,908
19,704 > 18,299
S.&C.Am.
■8,343
5,944
17/422
10,312
Bush.
32
Ifes
BushAHIbs
Bu.
56
lbs
W.
Indies
BblsAWSÎftf J3ii.s7i.60lbs Bhsh.56l6¿
8,319
1,597
•18,423 Brit, col’s
123,922 "817,252 ■7401880 =*261,596
'152,634
Chicago.......
*1-203
"
ü S s■■"*20
312
376
* 67;000
94,665
8,118 Oth.o’n’ts
‘ 25,120
174,987
47,ibi
‘Milwaukee..
4,210
700
673,605•
1,258
30,286
549,421
'
32,847
3,726
1.370,379
535,447
233,913|
180/665
Toledo.......
‘ Total...
9,889
13,790 “ 10;278
' 28,976
8,087
By adding this week’s movement to our previous totals we
»$.008
* 2,100
9,750
43
1 61,243
’ 4,847
Cleveland..
- 72,015 11 92.400
1301 have the following statement1of exports this season and last
30.562 •457,330
15,892
St. Louis.....
25,-400
216,500 ■209,200
8,300
‘ 8,500
2,625
Peoria.......
. . . ..
. 17.940
Corn.
Wheat.
Flour.
Minneapolis.
Sept.l/d.
Sept.
1,’86,
Sept.
1,’87(
Sept.
1,’87,
Sept.
1,’86,
Sept.
1,’S7.
486,759
31,443
229,962 1/41,817 1,570*028 1,136,681
Tot.wk. ’88.
to Feb.
to Feb.
to Feb.
to Feb.
to Feb.
371,738
961,361
21.582 Exports to— to Feb.
806,633 1,225,337
221,207
Same wk.’87.
18, 1888. 19,1887. 18.1888. 19, 1887. 18, 1888. 19,1887.
517,059
40,483
050,942 '2,286,525 1,087,928
159,587
Same wk.’SS
Bush.
Bush.
Bush.
Bush.
Since Aug. 1.
Bbls.
Bbls.
1887- A . ... 6,970.290 77,802,318 51,921,743 45,682,613 18/653,140 1,437,073 Un.Kingdom 4,159,27o 3,098,742 9,968,007 19.658,931 7,785,888 12,007,007*
1836-7*..... 6,201,372 65,218.725 53,753,798 40,666,195 17,237,939 1,480,551 Continent.... ^2 1248,138 ■277,850 6,799/78 12,448,214 2,989/426 4,624,307T
386,213
2t9,055
■23,029
21,000
855,709
11885*4$*...... - 4;850.956 44,598.579 55,702,069 36,600,403 16,003,334 2,290,495 Bi&C.Am...
"403,429
152.899 : 263,06»
9,421
‘ 8,071
West Indies. u 455,808 J372.858
*'Tncludecmfe week extra.
17,966
49,774
4,505
288,550
877,063
The comparative-shipments o f flour and grain from the same Brit. Col’nles
42,29»
100,096
80,271
22,130
21,358
- 16,366
Oth.
countr’s
,ports from Jan. 1 to<Feb,18, 1888, inclusive, for four years,
5.743 574 4.610.073 16.824.701 32.236.2411 10.507.263 17,841,757
show as follows;
; yg
The visible supply of grain, comprising the stocks in granary
at the principal points of accumulation at lake and seaboard
ports, and in transit by water, Feb. 18, 188S:
In store at—
New York______
Do aflqat........
-A lb a n y.................
’Suflalo .................
“
afloat...
'“Chioaiio........ .
a
afloat •
-Milwaukee..........
Duluth..................
■"Toledo..................
D e tr o it.................
"Oswego................
-«8t. L o u is .............
“
afloat...
'‘’Cincinnati.......... .
-Boston...............
"Toronto ...............
■Montreal.............
Philadelphia.......
Peoria..................
Indianapolis........
-'Kansas City........
-Baltimore ...........
Minneapolis........
■St. Paul................
On Mississippi... .
On canal & river.
“Tot.
Tot.
"Tot.
"Tot.
“Tot.
Feb.
Feb.
Feb.
Feb.
Feb.
1 8 ,’88,
1 1 .’88.
19, ’87.
2 0 ,’ 86.
2 1 ,’85*
Oorn,
Oats,
Wheat,
bush.
bush.
bush.
6,496.616 1,236,6911,161,777
.........
11,000
147,000
99.500
76,900
2,000
329,179
78,276
1,791,951
.........
52,000
........
5,562,763 1,831,953 944 055
633 096
.........
27,476
9,110
2,090,205
6,952,093
127,237
6,123
1,721,888
43,958
23,087
1,377,047
36,000
.........
53.000
3,387,816 2,511,2311,294,370
242,831
.........
____
200.000 227,000
26,000
106,176 106,641
93,546
900
20,431
163,608
6,489
73,748
232,068
80,211
52,929
398,721
329,239 451,773
72,991
220.000 228,000
79,500
131,705 147,352
306,879
120,344
.........
811,023
7,390,364
400,000
.........
6,300
7,600
39.564.709 8,334,522 4,953,602
40,287,617 8,339.156 5.181.537
59,886,568 16,569,794 4,871,405
52,841.839 8,867,578 1,997,150
43,055,392 5,486,4112,317,935
Rye,
bush.
1 383
8,000
47,150
69,73 L
Barley,
bush.
77.312
270,590
432,750
736,197
30,735
330,474
76,326
134,047
15,569
5,900
900
12,557
16,698
70,5 '3
335,900
43,828
36,000
1,702
2,244
3,950
95,000
3,407
167,099
10,651
52,799
2,070
13,077
367,016
361.283
445,345
689,052
474,786
2,737,523
2.803.169
2.097,707
1,570,935
1,581,550
* Minneapolis and St. Paul not included.
According to Beerbohm’s London cablegram, the amount of
“ wheat and corn on passage at the dates mentioned stood as
»follows:
Grain on Passage.
T o United Kingdom., qrs.
T o Continent................ .
’ S 265
THE [CHRONICLE
F e b r u a r y 25, 1888.]
Week ending Feb. 22.
Oorn.
Wheat.
1,588,000
167,000
347.000
103.000
Week ending Feb. 15.
Wheat.
1,432,000
165,000
Oorn.
311,000
38,000
1,755,000 450,000
1,597,000 349,000
Total quarters__ ___
¡Equal in busliels............... 14.040.000 3.600.000 12,776,000 2.792.000
^Same week in 1887. .bush. 22.104.000 3.232.000 22,728,000 2.840.000
The exports of wheat from India for the week, year and
*season are as below:
Exports o f Wheat from India.
Wee* end’g Week end’g April 1 to
Feb. 18.
Feb. 18.
Feb. 11.
To United Kingdom........ .........bush.
To Continent....................
40.000
60.000
100,000 12,820,000
40,000 11,980,000
Total........................... ......... bush.
100,000
140,000 24,800,000
THE DRY GOODS TRADE.
shipments on account of former transactions. The jobbing
trade was more active, and a very fair package business was
done by leading j obbers. Prices ruled firm all along the line»
and it seems certain that some makes of fall goods, as cot&m
flannel?, fancy woven shirtings, «fee., will be opened at a con
siderable advance upon last year’s quotations. Print cloths
were quiet, and the market became easier towards the end of
the week, 64x64s having receded to 3 % c ., and 56x60a to 3%c*
Stocks last Saturday and for the three previous years were as
follows:
1888.
Feb. 18.
2,000
8,000
None
3,000
1887.
1886.
1885.
Fed. 19. Ftb 20. Feb 21.
39,000
95,000 492,000
61,000
61,000 452,000
50,000 256,000 .320,000
20,000
30,000 350,000
13,000
170,000
fftockof Print Clloths—
Held by Providence manufrs..
Fall River manufacturers...
Providence speculators........
Outside speculators (est)......
Total stock (pieces)............
D o m estic W o o len G oods .—The market for men’s*wear
woolens has displayed more activity than for some time past,
and a fairly satisfactory business in cassimeres, suitings,
worsteds and overcoatings was done by the commission
houses. Cloakings and Jersey cloths have met with a fair
share of attention from the manufacturing trade, and desira
ble makes are steadily held by agents. Satiaets were in
irregular demand, and Kentucky jeahs and doeskins ruled
quiet and steady in price. Flannels and blankets were mostly
quiet in first hands, and there was a mo derate business in
tapestry and ingrain carpets. All-wool and worsted drees
goods, as cashmeres, Henrietta cloths, twills, printed beiges,
«fee., were in pretty good demand, and leading makes are in
light supply and firm at current quotations.
F o r e ig n D r y G oods were more active in jobbing circles,
and a fair business in some descriptions was done by importers.
Plain and fancy wool dress goods were in pretty good demand,
as were cotton wash dress fabrics, and a fair average trade
was done in silk goods. Linen goods, white good?, laces,
embroideries, hosiery ;and fabric gloves were severally in
fair request, but men’s-wear woolens were in light and irreg
ular demand at first hands.
Im p o rta tio n s o f D ry G oods.
The importations of dry goods at this port for the week
ending Feb. 23, 1888, and since Jan. 1, and the same facts for
the corresponding periods of last year are as follows :
N ew Y ork , Friday, February 24,1888.
There was a marked improvement in the jobbing branches
■of the trade the past week and a liberal distribution o f staple
and department goods was made by the principal houses
despite the intervention o f a legal holiday—Washington’s
birthday. A t first hands the demand was spasmodic and
irregular, calicoes and staple cotton goods having ruled quiet
and steady, while there was a better business in heavy cloth'
-dog woolens than in any preceding week this year. The
movement on account of back orders was of good proportions
both domestic and imported fabrics having been freely shipped
in this connection by manufacturers’ agents and importers.
Print cloths have slightly declined at the manufacturing
“■centres, but other staple cotton goods are firmly held because
•o f the exceptionally small stocks on hand and in sight, and
nearly all patterned cotton fabrics remain steady in price.
About 1,200 pieces domestic overcoatings, and 800 pieces
"foreign corkscrew worsted suitings were offered by a leading
Auction house, but the goods were not of a strictly desirable
•character, and the results of the sale were unsatisfactory, the
¿greater part of the goods having been passed to await a better
^market.
D o m est ic C o tto n G o o d s ,—The exports of cotton goods
from this port for the week ending Febuary 21 were 2,213
packages, valued at $129,761. These shipments include 850
’to China, 465 to South America, 288 to Aden, 223 to the West
Andies, 124 to Mexico, 96 to Central America, 50 to Europe, 33
’to British Honduras, 31 to Canada, 17 to Smyrna and 16 to all
•other countries. Since the 1st of January the exports aggregate
*24,840 packages, valued at $1,443,953. Of this total China
has had 11,37,6 packages, valued at $586,571, and 3,942
packages, valued at $257,970, have gone to South America.
For the similar period of 1887 the exports to all ports reached
24,912 packages and in 1886 were 30,038 packages. The
•«demand for plain and colored cottons at first hands was
steady Lut moderate, and agents continued to make large
442,000 1,614,000
Prints were mostly quiet in first hands, but a very fair
business was done in printed sateens, percales, lawns, bat
istes, ginghams, seersuckers and other cotton dress fabrics.
H
d
¿bä Q p
fcgj
1
B S Q r*
¡TO
2
2 so S- o 5
Is g
CD
e:
dD:
C
*Ü
d•
*d .
M
CO
X
Cl
<*
CO
Cl
00
<1
Cl
to
X
M
©CO
Cl CO
Cl©
<M
to
©05
©to
if*CO
©Cl
to©
©X
oo if*
X©
to©
tOM
coti*.
M
50If©X
to<i
X<J
Ci4
coo
M©
M
©©
COÄ
HH
©to
CO
W<J
©IfCO©
iff-l
O' ©
XX
MM
CiCi©tOCi
tO<J<l©CO
05If.MOCK
C0C0©<JC0
© to © COM
©©MdOi
.
IfV COCOCl X
MO© 4- M
©Cl tOMX
CO05
©
►
COCO
MX © Cl MX CO
CiM , COOtOMM
GOCl ! COrf^^Otf*
M
«0
X
oo
05
<»
«
if*
Cl
rt
05
to
o
Ml
o
to
CO
o
If*
o
Cl
CO
to
to
05
CO05 I Ci<|M©X
00CO © MCl MbO
to Cl
X © X Cl M
to
o
o
M
ci
If*
M
If-W
too
CO^
X<J
to to
CO
wcoi-Jif w
m bi © ci to
if 05©0<l
C0©©CI©
►
0
05
CO
M
*~i
to
M
CD
to
MCI
beo
©M
Cl M
<JCl
M©
XM
MM
<lCi©MCD
toCito ©CO
X©CO<JtO
M©C* © tO
WCOMfSi->
X © CO© M
<1<I
HI1 O &
0:
B:
Ci© ©^toci<i
MXXtO tO
CitO
g
f c f e S -o g
MMtO©M
HMbO
©©
05M Cl CD0 10<1
M<1
©M©<lrf*
COO MtOM
bOtO10<1to
00CO
CO05
to<i COCD <105
to 05 tO© MtO©
COCO MC0©©M
MM
0500 MCl co'lo 05
to CO 1O Cl <JCD
00O to t o o m ©
^tO^MÌO
Cl CO<J0505
Cl O C«CD05
©Ci^CO©
MCi MC*©
p H j tO M M J O p
< lIo i O D ^ M H v l
^ 05 © MCOM©
COCO I M M © C l<l
M
CiCOtOM©
©CO©©^
©M<ltOCi
to to Mto M
MO*C0C*0Q
tO<|MXCl
©M©*^M
MMtO
X Cl © COM
©<l ©© to
CO MCI Cl
tOMtOMtO
MCO© X <1
COCOX 05 <1
0 0 5 CD<5 M
to
rocoMif if.
MXXCitO
MM© X CO
00If*it- 05
M MMtO
©©Cl CO©
f-lf.lf.wt0
05©© COX
«oit^-aoiftC©M©Oi
¡M
O'«
w*
if-fe
< ip p pip-6©
CD<10000 05
©M CI tOtO
<i CDtO05 05
x|;
CDS
tO M M M M
p<jp<ito
MM©tOtO
CDCJi Cl <J CO
00 05 GOO* 05
MjOprf^
COCD05 00
Cl CD^ M x -g©
V com- jx
XMCO<JtO
MCitOCO<l
M tO M tO tO
ci©©< im
M Cl © © 05
COCl -MCI
COCOCD05 CD
<JCiCi©M
jo p p p p -X
<JC»OOMCO
to o o o to
M 05 tOM GO
X tO© © C l
Cl <1 <1X ©
MM Cl CD05
M 05 05 QO<1
05 CO05 O CO-^
copoopp
cobV tob
COOXCDO
<IM t0 C0 b 0
xd
-to
MS*
Q0&
THE CHKONICLE
266
[VOL. XLVIJ
gatilicvs atttl Jtocrlurs ©ut of H£xtr ^axU.
N E W ENGLAND.
PE N N S T L ,V A N IA .
Brewster, Cobb
& Estabrook,
Rea Bros. & C o .,
BANKERS,
NO. 35
S u M t jc a t im ïs .
NOW
READV.
BANKERS AND BROKERS,
AND DEALERS IN FOREIGN EXCHANGE,
TH E
4 3 5 W o o d Street, P ittsb u rg , P a
CONGRESS S T R E E T ,
BO STON .
MEMBERS OF THE NEW YORK AND
BOSTON STOCK EXCHANGES.
ALSO,
D ealers In M u n lc lp a l, State, R a ilro ad
and U n ited States R o n d s.
MEMBERS
New Fork and Philadelphia Stock Exchanges.
Pittsburg Petroleum, Stock and Metal Exchange.
Private wires to New York, Boston, Philadelphia,
Baltimore and Washington.
Financial R ev iew .
(A N N U A L .)
W m . G . Hopper & C o .,
Irving A . Evans & C o .,
1 8 S
BANKERS AND BROKERS,
N o. 63 S T A T E S T R E E T ,
BOSTON.
3 8 South Third Street,
A
P H IL A D E L P H IA .
YEAR
ffUrarRERa OF BOSTON, NEW YORK AND
PHILADELPHIA STOCK EXCHANGES.
FINANCIAL INFORMATION
FOR
J oshua
W ilbour, Jackson & C o .,
Direct private wire to
l e y
,
H a r r is , F u l l e r
A
B ic k -
New York.
BANKERS AND BROKERS,
NO. 5 2
W EYBOSSET
STR EET,
E . W . Clark & C o .,
P R O V ID E N C E , R . I.
BANKERS AND BR0KER8,
Dealers in Commercial Paper, Government and No. 139 South Fourth St., Philadelphia.
R a ilr o a d , M u n ic ip a l a n d o t h e r d e s ir a b le I n v e s t
Other first- class Bonds and Securities and Foreign
m e n t S e c u r itie s f o r s a le .
jlZ0h&D(i6.
Transact a general banking business. Allow Inter
Private telegraph wire to New York and Boston.
est on deposits.
_
Members of the Philadelphia and New York Stock
Exchanges, and connected by private wire with New
York.
B A N K E R S AND B R O K E R S ,
Swan & Barrett,
1 8 6 m iddle Street,
P O R T L A N D , M A IN E .
PITTSBURGH,
Dealers in Government.State,County, City and Rail
road Bonds, Bank Stocks, Ac.
Desirable Investment Securities constantly on hand
PA.
E S T A B L IS H E D 1 8 7 1 .
Whitney & Stephenson,
BANKERS AND BROKERS,
SOUTHERN.
N o. 57 F O U R T H A V E N U E .
Oldest Pittsburgh members N.Y. Stock Exchange.
A . L . Hartridge,
SA VANN A M , G A .,
SECURITY BROKER.
W ESTERN.
Bnvs and sells, on commission all classes o f Stocks
and Bonds
Negotiates loans on marketable securities.
New York Quotaiians furnished by private ticker
every fifteen minutes.
H. B. M o r e h e a d .
Wm . F a i r l b y
H . B. Morehead & C o .,
ATLANTA.
STOCK, BOND AND NOTE BROKERS,
Humphreys Castleman,
N o. 51 W e st TJhird Street,
BROKER AND DEALER IN ALL KINDS OF
SECURITIES.
Bonds and Stocks bought or sold on commission.
Georgia and Alat uma Securities specially dealt in.
Correspondents —Tobey A Kirk and A.Dutenhofer.
New York.
'
References—Atlanta National Bank, Atlanta,Ga.,
iitid Fourth Nath nal Bank. New York.
C . W . Branch & C o .,
CINCINNATI, OHIO.
N . W . Harris &
C o .,
CHICAGO and BOSTON.
DOM no o f Counties, Cities, Ac., of high grade a
p U W u u specialty. Send fo r D e scrip tiv e L ist*.
BANKERS AND BROKERS.
St a t e
B a n e B u il d in g
R ICH M O N D,
VA.
Private wires connecting with Washington, Baltl■Bore. Philadelphia and New York.________________
T H O M A S B R A N C H & CO .,
BANKERS AND COMMISSION MERCHANTS,
STO C K S and B O N D S
A t Auction.
Die Undersigned hold REGULAR AUCTION
SALES, of all classes of
STO CK S
AND
BONDS,
R IC H M O N D , V I R G I N I A .
ON
Circulars and information on funding the debts of
Virginia and Nortn Carolina free o f cost: one-eighth
percent charged for funding. Southern Railroad
end State and City Bonds bought and sold.
A D R I A N I I . M U L L E R & SON,
WEDNESDAYS AND SATURDAYS.
NO. 1 PINE STREET, NEW YORK.
W ilson, Colston & C o ., B o n d s o i S u r e t y s h i p .
BANKERS AND BROKERS,
.Members of Baltimore Stock Exchange),
B A L T IM O R E ,
NO
O TH E R
B U S IN E S S .
The Guarantee Co.
(INVESTMENT and SOUTHERN SECURITIES a
Specialty.)
OF NORTH AMERICA.
Correspondence solicited and information fu r
Cash Capital.....................................................$300,000
nished.
N Y. Correspondents—McKlm Brothers A Co.
Assets and Resources over............................ 900,000
Deposit with Insurance Department............ 240,000
President:
Ylce-President:
Robert Garrett & Sons,
7 SOOTH
Price of the Review , bound in cloth, - 92 00
To Chronicle Subscribers, - - - - -
1 50
H O N . J A S . F S R R IK R .
NEW YORK OFFICE:
B A L T IM O R E ,
C O N T E N T S *
R etrospect o f 1 8 8 7 .
M ercantile F a ilu re s.
B a n k in g a n d F i n a n c i a l United States—National Bank Figures and
Currency Movements.
New York City—Bank Returns, <fec.
London—Money Market and Bank Returns.
C om m ercial—
United States—Foreign Commerce, Trade
Balance, U. S. Exports and Imports o l
Leading Articles. London—Review o l
year, Bank Returns, &os*
T h e M o n ey M a r k e t Influences, and Prices of Call Loans and
Commercial Paper since 1879.
G old an d S i lv e r Production, Consumption, Exports and Im
ports of Gold and Silver in the United
States and abroad.
F o reig n E x c h a n g e Market and Prices in New York, 1872-1887.
In v estm en ts an d S p e c u la tio n Compound Interest Table, Showing Accu
mulations of Money in a Series of Years.
Table Showing the Rate Per Cent Realized
o n Securities Purchased at different prices
(without regard to date of maturity.)
Stock Speculation in New York.
United States D ebt an d Securities—
Debt of the United States, 1793-1887.
Prices of U. S. Bonds, 1860-1887.
State D ebts a n d Securities—
State Debts and Immunity from Prosecution.
Prices of State Securities, 1860-1887.
R a ilro ad s a n d tb e lr Securities—
Railroad Statistics of the United States.
Railroad Earnings.
Prices of Railroad Bonds, 1883-1887.
The New York Stock Market, 1882-1887.
Stock Quotations N. Y. Exch., 1883-1887.
Stock and Bond quotations at Boston Ex
change in 1887.
•<
«
Phila. in 1887.
«<
<•
Balt, in 1887.
W IL L IA M
B . D A N A & C O .,
NO. I l l B R O A D W A Y .
STREET,
TRANSACT A GEN'KIiAL DOEKS'ilC
liOUKIGN DANCING i l SINESS
S IR A L E X . T . G A L T ,
Bankers,
Stock Brokers,
Merchants,
Investors*
M a n a g in g D ir e c t o r : E d w a r d R a w l i n g s .
BANKERS,
N o.
BOOK
OF
Desirable SIX PER CENT WATER BONDS and
Stock s a n d R on ds B o u g h t a n d Sold
other first-class securities for sale.
In a ll m ark e ts.
W il b o u r ,
C h a r l e s H . S h e l d o n , jb
B e n j a m in A . J a c k s o n , W il l ia m b in n e y , J r .
S .
BANKERS AND BROKERS,
AND
D. J. TOMPKINS, Secretary.
N e w Y o r k D i r e c t o r s — Joseph W .Drexel.F. P.
Dicott, Logan C. Murray, J.E. Pulsford, John Paton,
E. F, Winslow, Erastus Wiman..W. Butler Duncan.
P UBLISHERS,
1 0 2 W i lli a m
Street, N ew Y o r k .
F e br u ar y 25, 1888.]
TH E CHRONICLE
Canadian and
j
nB
ig
ve
a
W
autte and
C A N A D IA N .
f o r e ig n
Bank o f Montreal.
THE
[ESTABLISHED 1818. J
fforetflu.
.
The Bank of Australasia.
. (Incorporated by Royal Charter, 1835.)
Street> L o n d o n .
Railway Share Trust Co,
C A P I T A L P a id In - - 8 1 2 ,0 0 0 ,0 0 0 G old
8U R .P L U S . . .
- 8 0 ,0 0 0 ,0 0 0 G o ld
(LIMITED),
Hon. Sir DONALD A. SMITH, President.
W. J. BUCHANAN, General Manager.
No. 4
BANK
¡ K W I S 'I S M . “ “
Bills negotiated or sent for collection.
Telegraphic transfers made.
iS ii°n<lon at Interest for fixed
pUcaUon.
P ^ H A U X ^ E L B Y ^ s S ^ e ^ p-
B U IL R .IN G S
LONDON, ENGLAND.
NJ5W YORK OFFICE:
Nos. 59 & 61 W A L L S T R E E T ,
W ALTE R W ATSO N ,) »
A l e x ’r L ang ,
J Agents.
C ap ital P a id U p , £ 9 7 1 ,3 6 0 Sterling.
Buy and sell Sterling and Continental Exchange
and Cable Transfers ; grant Commercial and Travel
ers’ Credits, available in any part o f the World;
This Company undertakes the business o f Trustee
issue drafts on, and make collections in, Chicago
to
Loans o f approved Hallways, negotiates and
and throughout the Dominion of Canada.
Issues Loans on the London Market, acts as Agent for
L o n d on Office. N o. 2 2 Abchurcli Lan e.
Imperial Bank of Canada
C A P IT A L (p aid u p ), - SU RPLU S, . . . . . . .
H. 8. HOWLAND, Pres’t.
HEAD
$ 1 .5 0 0 ,0 0 0
$ 5 5 0 ,0 0 0
Essex Centre,
Fergus,
Galt,
Ingersoll.
The Merchants’ Bank
OF
CANADA.
Capital, Paid Up. - • ■ $5,799,200
Reserve,.....................j 1,700,000
HEAR
O F F IC E , M O N T R E A L .
ANDREW ALLAN, Esq., «resident.
ROBERT ANDEKhoN, Esq., Vice-President,
GTCORGE HAGUE, General Manager.
JOHN GAULT, Branch Superintendent.
BANKERS :
LONDON, ENG.—The Clydesdale Bank (Limited.)
NEW YORK—The Bank of New York. N. B. A.
A general Banking business transacted. Letters
o f Credit Issued, available In China, Japan and
other foreign countries,,
N ew Y o rk A gen cy, N o. 61 W a ll Street
HENRY HAGUE,
)
JOHN B. HARRIS, JR., J-4««™ *.
AGENCY
OF
THE
B a n k
A . M . T O W N S E N D , A g en t, 5 0 W a ll St.
S e g a l.
Cable Address—p
a t y
, London.
F
nSiwr? ENGLISH ASSOCIATION OF AMERICAN
prepare^NI> 8HARBH0LDBRS (LIMITED) are
obtain Registration o f American Railway
Shares in the name o f the Association, lodge them
with the London & Westminster Bank, and issue
against the deposited Shares the Certificates of the
Association, countersigned by the Bank. The certlflcates have coupons for dividends attached, and
ÎJEP® PÏ,e?ÇnHtion of the advertised coupon at the
office o f the Association the dividends may be obon??
same day they are payable in the U. 8.
iv-JL*16/ X 111obtain Registration o f Shares in
or the Association, deliver up the Shares
e
andinP»y
the dividends
at the office o f îvLth4
the Association
London
the «am.
day they are payable in the United States.
<J. Or they will obtain Registration of Shares In
the owner’s name, and collect the dividends bv
power o f attorney.
1
Under plan No. 1 British holders o f American
shares are enabled when necessary to take immediate combined action in voting, the power being used
hythe Association on instructions from holders of
certificates representing shares in any particular
railway. This plan also affords absolute security to
lenders o f money on American shares, as Associ
ation certificates are only issued upon newly-verified
share certificates.
The original American shares can always be re
exchanged atshort notice, free of expense, on pre
sentation o f the Association’s Certificates at the
office.
The charge for registration and for the Associ
ation’s Certificates is 3d. per share.
SAMUEL POPE, G. C., Chairman.
JOSEPH PRICE, Managing Director.
F. Ï*. BAXTER, Secretary.
Nos. 5 and 0 Great Winchester 8t., London, B. 0.
The Association acts as Transfer Agents In Con
don for American Railway Companies, In oonjunotlon with the London agents of the Mercantile
Trust Company o f New York as Registrars.
Agents in the United States,
_____________POOR & GREENOUGH. 36 Wall 8t,
Blake, Boissevain & C o ,,
LONDON,
ENGLAND.
OF
B ritish N orth A merica ,
N o. 5 2 W A L L
STR EET.
Buy and sell Sterling Exchange and Cable Trans
fers. Issue demand drafts on Scotland and Ireland
lfiLQn Canada. British Columbia and San Francisco.
C IR C U L A R . NOTES Issued in Pounds Sterling
available m ail parts o f the world. C O M M E R
C I A L C R E D IT S ISSU ED for use In Europe,
China, Japan, East and West Indies and the Brasfls,
River Plate, Ac.
Bills collected and other hanking bnsiness trans
acted.
[D. A. MoTAVISH,) ,
H. STIKEMAN,
( Agents.
N e g o tia te Railway, State and City loans.
E x e cu te orders for Bonds, Shares, etc., on Com
mission, and transact a general Banking and
Commission Business.
S p e cia l a tte n tio n given to the execution of
orders for Securities on the New York, London and Amsterdam Exchanges, in corres
pondence with
BLAKE
BROTHERS
&
C O .,
18 W a ll Street, N ew Y o r k ,
2 8 State Street. B o sto n ,
AN D
F O R E IG N .
A D O L P H B O IS S E V A IN & CO .
A m sterd a m , H o lla n d .
THE
Anglo-Californian Bank
(LIMITED).
LONDON, Head Office, 8 Angel Court.
SAN FRAN C ISC O Office, 200 Sanarme St.
N E W Y O R K Correspondents,
J. & W. Seligman <&Co.
ROST ON Correspend’ts, Massachusetts N. Bk.
A n tiin riied C ap ital, - - - $ 6 ,0 0 0 ,0 0 0
P a id -u p C apital, - - - - 1 , 5 0 0 , 0 0 0
R eserve F u n d , » - - - - - 5 0 0 .0 0 0
Heinemann & C o .,
62 Gresham House, Ei c.,
LONDON,
S o licit accounts and agencies o f Banks, Railways
Corporations, Firms and Individuals upon
favorable terms; also orders for the pur
chase and sale of Bonds, Shares, £ « „ Ac. on
the Stock Exchange,
in te re st allowed on Deposits, subject to 00-days
sight drafts, at Bank o f England rate, ana
one per cent below that rate subjeot to
demand drafts.
Transact a general banking business. Issue Com
mercial Credits and Bills o f Exchangesvailable In all
parts of the world. Collections and orders f o r Bonds,
Stocks, etc., executed upon the most favorable terms.
FRED’K F. LOW,
)„
IGNATZ 8TEINHART, $Manakera
P..N. LILENTHAL,. Cashier.
N egotiate Hallway, State and ottjCLouu.
.........
or Registration of Stocks in London, or otherwise.
American Railway Shares.
B R A N C H E S IN N O R T H W E ST .
C O R P O R A T IO N .
Hallways and other Corporations, either In the mat
R E G IS T R A T IO N OF
Winnipeg.
Brandon.
Calgary.
Agents in London :
] .
v __. .
Lloyd’s Barnett’s & Bosl,11
a quet's Bank, limited, | ®a n k of Montreal .
Promptest attention paid to collections payable in
any part o f Canada.
Approved Canadian business paper discounted at
the Mead Office on reasonable terms, and proceeds
remitted by draft on New York.
Dealers in American Cur’y and Sterling Exchange.
B A N K IN G
ter o f payments o f Interest on Loans, Dividends on
T O R O N TO .
Niagara Fails. Toronto.
Port Colborne.
do Yonge 8t.Br.
8t. Catharines. Welland.)
St. Thomas.
Woodstock.
H ong Kong & Shanghai
Reserve Liability o f Proprietors...'!” " . '" 7!i»0,000
Draf fc«’ tune Letters’ of
Credit for use o f Travellers, and negotiate or collect
n at B om lw , Calcutta, Singapore,
Manila, Hong Kong, Fooohow. j\.moy!
Ningpo, Shanghai, Hankow, Yokohama, Hiogo, San
Francisco and London.
“ * °“ n
D. R. WILKIE, Cashier.
O F F IC E
B R A N C H E S IN O N T A R IO .
Paid-up Capital, - - - - - « jei.eoo 000
Reserve Fond, * ■ > ■ ■ ■ .
800*000
Reserve Liability o f Proprietors
*
wider the Charter - - - - 1,600.000
Letters o f Credit and Drafts issued on any o f th«
T**K C I R fiU I T
C O U R T OR T IIK
UNITED STATES in and f"r the Southern Dl®
in ct o f Iowa, Eastern Division.
ul8
THE CENTRAL TRUST CO.
OF NEW YORK, et al.,
Complainants,
IN EQUITY.
vs.
THE WABASH ST. LOUIS No.
A PACIFIC RAILW AY ORIGINAL BILL.
COMPANY, et al..
Defendants.
THE FARMERS’ LOAN &
TRUST CO.
Trus’ ee
made
-------------------- alBIA RAILROAD CO..
CROSS-BILL.
Cross-Complainants.
___
vs.
THE CENTRAL TRUST 'CO.
OF NEW YORK
and
JAMES CHENEY, et al.,
Cross-Defendants.
J
PUBLIC NOTICE is hereby given that In pursu
J? 1
entered in the above-entitled cause
9? ^ 9 ^ d,»y o f September, 1880, 1, the undersigned
Standing Master In Chancery o f said Court
ln
order, will on the 23d d a y o i
front door o f the building In
it Animir1? !?
i'Ourts are held in the city of
Iowa, make sale at publio
^ddtion of the mortgaged premises embraced In said
“ an entirety without appraisement, and
any right reserved on the part of any person
df Pii'fdns whomsoever to redeem the same, whieh
S « i tS?^.e «JRr,e? ll8,es^arei descrlbed in said decree as
also in a certain indenture o f mortgage or deed of
irnaJjdated the 0th day of February,188ff, executed by
Mo5a7la $ Albia Railroad Company,
5,nd by It delivered to the Farmers’ Loan & Trust
Company, as follows, vis.: All and singular the enthe sald Centerville Moravia A Albia
1 extending from a junction with
I?
A Nebraska Railway Company,
n
enterville, In Appanoose County,
State of Iowa, to a junction with the Central Iowa
Railway, in the vicinity o f Albia, ln Monroe County,
" » s °n the sixth day o f February, 1880
buli t and constructed, and its franchises,
equipment, property, tools and interest, that Is to
SnerSSnfivflxture8j «oods and chatter!?ile Moravia A Albia Railroad
^onipany, its property rights, privileges, interests
and estate of every description and nature. Its rails,
ties, fences, buildings and erections, its right of way!
cars, engines, tools and machinery, its rents, reser
vations, Incomes, tolls and reversions o f every na
ture. including all the property o f whatsoever kind
91-, character which the said Centerville Moravia A
Albia Railroad Company then possessed or might
thereafter acpuire, with the benefit o f all contracts
which said Centerville Moravia A Albia Railroad
ir'?,I? pany nad made or by assignment or succession
held, or might thereafter make or have, either In
law or equity, and the right o f all tolls, income. Is
sues, profits and interests which might thereafter
accrue to the said Centerville Moravia A Albia Railr?wL^onlpan! ’ fr °m any source wha* ever, Including
S l £ eA^?p Drt7, acquired by said Centerville Mora
via A Albia Railroad Company, since the date of said
mortgage.
the terms o f sale In said decree prescribed, the
purchaser at said sale Is required of the purchase
price to pay not less than five thousand dollars
in cash; and on final settlement to pay in cash
such sum or sums as the Court shall hereafter direct
to meet any claim as the Court may adjudge to be
prior In equity to the Hen of said mortgage, or deed
o f trust; and any other payments which the Court
may adjudge to be necessary to be paid in cash, and
the balance of the purohase price not required to be
paid in oash may be paid either In cash or in bonds
and over-due coupons, secured by said mortgage or
deed o f trust, to be received In payment at such
prloe or value as would be equivalent to the distrib
utive amount or share that the holder or holders
thereof would be entitled to receive thereon, ln case
the entire amount o f the bid were paid ln oash.
P. T LOMAX,
Standing Master ln Chancery o f said Court.
JOSEPH Gl L L O m
STEEL PENS
SOLOMEDALPARIS EXPOSITION-1878.
TH E MOST PERFECT OF PENS
JVol. X LvI.
TH E CHRONICLE.
T ill
l t T P A R T OF T H E C ON DITION O F T H E
ü
G A L L A T IN N A T IO N A L BAN K., at New
York City. In the State of NewYork. at the close of
business February 14,1888:
RESOURCES.
Loans and discounts............................
uTfbondsto^e'cure circulation... ••••
Other stocks, bonds and mortgages ...
Due from other National banks........
, , . . . ,™
Insurance.
Hauh Slate
Jftätmjenls.
„
*4' 8,770 40
D F P O R T o f t h e c o n d it io n o f t h e
R A M E R IC A N E X C H A N G E N A T IO N A L
» 1 vir at New York, in the State of New York, at
t h i s of business on the 14th day of Feb., 1888:
RESOURCES.
Loans and discounts (see schedule)... .$16,113,491 83
overdrafts...............................................................04
U. 8. bonds to secure circulation (par
^ ^ Q()
k^q'soo 00
549.500 00 u7 S ? bonds" *to' secure "deposits "(P®r
14«,¿»u
<w
7,545 23
Due from State banks and bankers
505,373 34
Real estate, furniture and dxtures
36,330 43
Current expenses and taxes paid
Checks'anif other cash items...............
oai’ i^o 05
Exchanges for Clearing House.........•• L994.1&) $
Bills of other banks... ••••*•••*••■■*■■■••
*158 74
Fract’l paper cur’ncy, nickels & cents .. 1,461,198
lfc)8 00
Specie
Legal tender notes.............. ....
oo/i'onn oo
U S. cert, of deposit for legal tenders.
220,000 00
Redemption fund with p .S .Treasurer
(5 per cent of circulation)................
¿o.&ouw
tV i ................................................ $10,113,326 70
O^er stocks," bonds 'and mortgages,
m arket value (see schedule)..............
Due from other national banks...... ..
Due from State and private banks and
bankers (see schedule)............. .........
Current e^enses and't’axes paid V."' .V
P?emiumoneother U. S. bonds (market
Checksk'oth’r ^sh'item^s^e_schedifie;
Exchanges f o r Clearing House............
Bills of other banks.............................
Specie.....• ••
............... V.V.'.V.....
L IA B IL IT IE S .
Stat^1"
Capital stock paid in.......... . . . . •••••- ^OWOOO 00 Ue|a certificates of
tm&vided profits----- V'nding........
National bank notes outstanding.......
Dividends unpaid
Individual deposits subject to check..
D e m a n d certificates of deposit..........
514 640 00
9a 50
o a** 194 ««
3-0&4,i ^ «>
2i85’489 00
OFFICE OF THE
00
354,440 13
1,952,944 24
s n ’244 77
46!«51 «6
1M^ ^
22
2,
A T L A N T I C
Mutual Insurance C o .,
99,315 04
s j f & m 61
1,865,150 00
60,000 00
10,000 00
5 per cent redemption fund)............•
.$28,438,148 25
Total.
.
i d L I A B I L I T I E S .............. $5,000,000 00
Capital stock paid in.................
1.340.000 00
Due to other National banks...............
4S8*227 58
Due to State banks and bankers. . . . . .
483,227 aa
Total .........................................
$10,113,326 70
state of N e w York, County of New York.ss:
Demand certificates of deposit...... ...
7 R8 _
’«3f, „„
I Arthur W. Sherman , Cashier of the
named bank, do solemnly swear that the above Certified checks.................... ............... 1 lOO’.OOO 00
statement is true, to the
V e R^AN? Cashtej.
Due tcfother8National banks......j........ 5,162,200
Subscribed and sworn to before me this lSth day Due to State &private banks &b’nkers 2,391,611
of February. 1888.
H. L. BRAYNARU,
Total................. .............................. $28,438,148 25
Correct—Attest : ^ TAp PB^ ,ry 1
tante of NewYork, County of New York, as:
ADRIAN ISELlN. > Directors.
*
T
Edward Burns, Cashier of the American
THOMAS DENNY,)_______ _
Exchange National Bank of the City of NewYork,
do solemnly swear that the above statement is true.
F P O R T OF T H E CON DITION O F T H E
of
my knowledge
andBURNS,
beliaf. Cashier.
tue best
Desx. u
j.
EDWARD
F O U R T H N A T IO N A L B A N K , at New to thft
York, in the State of New York, at the close of bus
pFebruaryai ^ ^ bSCri WM^fvifs6 \^A8? burn7
iness February 14, 1888 :___
resources.
„„
Loans and discounts.................... ........$.5,630,963 vi
j ’NO. T. TERRY,
> Directors.
Overdrafts................ .............................
onoonn 00
DUMONT CLARKE.
U.S. bonds to secure circulation............
200 000 00
U. S. bonds to oecure deposits............
ion’««? 00
other stocks, bonds and mortgages ...
99
Due from other national banks. .........
» 4 a
Due from State banks and bankers . —
«oo’ooo 00
Real estate, furniture and fixtures....
600,000 00
Current expenses and taxes paid......
84.oo0
Checks and other cash items..............
27 s «09 35
Exchanges for Clearing House.......... 5,373,60« 35
Bills of other banks.............•••••• •• »gfflg 29
Fractional currency, nickels & cents . g 1?3-»g| °°
Bataajfer o a ^ - ^ r -
“its »
NEW YORK, January 24,1888.
The Trustees, In conformity to the Charter ox
Che Company, submit the foUowing Statement
of its affairs on the 31st of December, 1887 :
Premiums on Marine Risks from
1st January, 1887, to 31st
December, 1 8 8 7 .....— . ——*- $3,642 969 09
Premiums on Policies not mai ked
eft lBt January, 1 8 8 7 ....... . >> 1,417 600 13
Total Marine Premiums,------ $5,060 569 22
premiums marked oft from 1st
January, 1887, to 31st Decem
ber, 1887.................................. - $3,672 331 21
% n s n x m c z.
°°
Redemption fund with U. 8. Treasurer 1:780:565
9.000 00
(5 per cent of circulation)...... ......
Due irom U. S. Treasurer, other than
1.000 00
5 per cent redemption fund
Total...... ........................ ................ $27,345,669 81
The United States Life
Insurance Co.
Capital stock paid in............................. *3 «4o’ooo 00
Surplus fund.........................................
Undivided profits ...... y y u r w ........
iSn’noo 00
National bank notes outstanding.......
180,000 00
Dividends unpaid.......
,o « ak’iwm. «6
Individual deposits subject to check..
SS
Demand certificates of deposit..........
«»,436 »»
Cashier’s checks outstanding...............
«10500 00
United States deposits .........................
079 «74 w
Due to other national banks .............
8,4<>n510 10
Due to State banks and bankers.........
420,510 99
Total....... ........................................ $27,345,669 81
state of New York, County of New York, ss:
I H enry BucKHOUT.Cashier of the above-named
bank, do solemnly swear that the above statement
,s true, to the ^ s ^ o fm ^ k n ^ e d ^ a n d belief
IN T H E C IT Y OF N E W Y O R E .
(ORGANIZED IN 1850.)
Losses paid during the same
p e r io d .....— . —.
$1.599,468 25
returns of Premiums and Ex
p e n s e s ............ •• — — —
$7c8 846 38
The Company has the following Assets, viz.:
United States and State of New
York Stock, City, Bank and
other S tock s.....— . — . — —— $8,622,565 00
Loans secured by Stocks and
oth erw ise........ ———
—— 1,559,100 00
Real Estate and Claims due the
Company, estimated a t . . . . . . . .
474,439 88
Premium Notes and BUIS Re
c e iv a b le ........ .............
1,362,986 07
Cash in B a n k .............................
218,192 40
Amount.................................. $12,237,283 35
261, 262 & 268 Broadway, New York.
SIX PER CENT INTEREST on the outstand
ing certificates of profits will be paid to the
. P. F R A L E I G H , Sec. A .W H E E L W R I G H T , Asst. Sec. holders thereof, or their legal representatives,
on and after Tuesday, the 7 th of February next.
W m. T. Standen , Actuary.
THE OUTSTANDING CERTIFICATES of
$
1
0
0
,0
0
0
the issue of 1883 will he redeemed and paid to
Increase in A ssets oyer - - I ncrease IN NEW business , * - - 4 0 per cent
the holders thereof, or their legal representa
I ncrease of Business in force , - $ 2 ,4 0 0 ,0 0 0 tives, on and after Tuesday,the 7th of February
next, from which date all interest thereon will
POLICIES INCONTESTABLE.
Subscribed and sworn to before me, this 17th day
cease. The certificates to be produced at the
CLAIMS PAID PROMPTLY.
of February, 1888.
D.
p^Klic
P.nrrpot—Attsst:
JNOiary jruuiii/.
time of payment and canceled.
TEN DAYS’ GRACE.
Correct At^ i j WAKD SIMMONS.)
+
A DIVIDEND OF FORTY PER CENT Is
FRED’K M HAD,
>Directors.
ABSOLUTE SECURITY.
declared on the net earned premiums of the
JOHN H. INMAN,
)__________
T h e m ost lib e r a l an d e a u ita b le c o n tr a c t Company, for the year ending 31st December,
e p o r t OF T H E CONDITION OF TH E
CONTINENTAL NATIO N AL B A N K , co n sisten t w ith re co g n iz e d b u sin e ss prin^ 1887, for which certificates will be issued on
at New York, in the State of New Y,rk, at thec ip ie s .
4nd after Tuesday, the 1st of May next.
____
close of business, February 14,1888.
By order of the Board,
RESOURCES.
*4 1 7 « 0 2 1 1
GEO. H. BURFORD, President.
R
GOOD AGENTS, desiring to represent
Loans and discounts............................. * ’
582 ¿1
pany, are invited to address J . S . G A F F N E Y ,
uTS^ bonds to secure circulation...... .
50,000 00 Superintendent of Agencies, at Home Office.
U. 8 . bondsonhand.. . . . . .
......
. S ' « « 4V
Other stocks, bonds and mortgages....
139,955 41
Due from other national banks............
144,780 14
22,684 03
Due from State banks and bankers......
Banking house. .....................................
»85'WW uo
Other real estate
............... .............
9 743 «5
Current expenses and taxes paid.........
9.743 «&
S
Premiums paid.....................................
P O R T L A N D , M A IN E .
Checks and other cash items................
Exchanges for Clearing House............. 1*8^>So 00
INCORPORATED 1848.
Bills of other banks...... .
•••••••
«0 os
JO H N E . D E W I T T , P re s id e n t.
Fract’l paper currency, nickels & cents
0»
J . H . C H A P M A N , Secretary*
UNION MUTUAL
Life
Insurance
Company
T ¡It l!»S.T E'Et,«:»
J. D. Jones,
W. H. H. Moore,
A. Raven,
Charles P. Burdett,
Henry E. Hawley,
Chas. H. Marshall,
James G. i»e Forest,
Charles D. Lever ich,
John L. Riker,
George Bliss,
Anson W. Hard,
N. Denton Smith,
Isaac Bell,
Edward' Floyd-Jenes,
Thomas Maitland,
Ira Bursley,
James A. Hewlett,
George H. Macy,
Lawrence Tumure.
Legal-tender notes....... •••••• ............
0 12,114 uu
James Low,
Redemption fund with U. S. Treasurer (5 per cent of circulation;.............
2,200 00 n 8*6n i t ^the^Company Hornedffl ce^Pon land, Me., Wm. Sturgis,
or^any <>f its Agents
Pub'JcaDonsdescribing
Total....................... -........................ $8,842,569
Benjamin H. Field,
L IA B IL IT IE S .
MAINB i ^ p g i NCTNT GUARAN^EED B^ND Josiah O. Low,
Capital stock paid in ............— ............ ^1.000.000
un’r ICFU CLASS “ A ” and other Forms of Bond Edmund W. Corlies.
S
: ’ ah^ for pamphlet'Explanatory of tne
Maine fcon-Forfeiture Law, and for list of Claims Robert B. M inium ,(
NaUonafbank n^tes outstanding V.V.*/,
45!000
paid thereunder.
_____
_____
William Degroot,
Fndividu08 S o l "subj ect to" check
2,422:570
Demand ceitiflcates 01 deposit............
M|2
Horace Gray,
ESTABLISHED 1855.
A c c e p t a n c e s ......... .
»••• •:...................
William E. Dodge,
Ci.shiera’s checks outstanding.............
Due to other national bapks................ 2,58i,D29
John E lliott,
Due to State hanks and bankers..........
<84,007
C. A. Hand,
Total
.......................................... $8,34^,569
S T A T IO N E R A N D P R I N T E R .
John D. Hewlett,
State of New York, County of NewYork, *8.•
Supplies Bank*, Bankers, Stock Broker«i andi C on c William H. Webb.l
“ o
«
W
*58e,
retions
with
complete
outfits
of
Account
Books
and
g m e n t is Wue, t o £ W
JOHN D. JONES, President.
Stationery concerns organising will have their order*
promptly executed.
of^Ffcbruary ISSS?™ 11 t0 ^ G ^ S .K ¿ ¿ key?
W. H. H. MOORE, Vice-President.
E ugene R . C ole,
0 Correct—Attest:
Notary Public,New fork Co.
C. C. BALDWIN.
„ iTT
.
CHARLES H. MARSHALL, >Director*.
EDMUND D. RANDOLPH*)
H o, I W I I A I A M
STREET,
(HANOVER SQUARE,)
A, A. RAVEN. 2d Vloe-PreMdent,
THE CHRONICLE.
F ebruary 25, 1888 *
IX
totlxrw.
©tfitcrtt.
^ U s c z llv L m o n s .
Henry Hentz 5c C o .,
B liss, F a b y a n & C o . , W illiam s, Black & C o .,
New York, Boston, Philadelphia,
BANKERS AND COMMISSION MERCHANTS,
1 W IL L IA M
SELLING AGENTS FOR LEADING BRANDS
B R O W N Sc B L E A C H E D SH IR T IN G S
A N D SH E E T IN G S ,
PRINTS, DENIMS, TICKS, DUCKS, At*
To w e is ,Q u ilts, W h ite G oods & H osiery
Drills, Sheetings, Ac, for Export Trade.
Brinckerhoff, Turner
& C o .,
Manufacturer« and Dealers la
C O T T O N S A IL D U C K
And all Und« of
COTTON CANYAS, FELTING DUCK, 0 A »
COVERING, BAGGING, RAVENS DUCK, SAIL
TWINES, AO., “ ONTARIO” SEAMLESS
BAGS. “ AWNING STRIPES.
Also, Agent«
U N IT E D ST A T E S B U N T IN G GO.
A fall «apply, all Widths and Colors, always in «took
N o. 1 0 9 D u an e Street.
Crenshaw & Wisner,
16 Sc 18 E x ch an ge P lace, N ew Y o r k ,
C O M M ISSIO N M E R C H A N T S ,
Menders o f the Cotton, Coffee and Produce Ezoh’s
AGENCT
OP
THE HAXALL CRENSHAW CO.,
R IC H M O N D , V A .
Standard Brands o f Flour for Shipment to Warm
Climates always on hand.
ORIENT GUANO MANUFACT’G CO.,
O R IE N T , L . I .
Standard Superphosphates.
SULPHUR MINES COMPANY
OF V IR G IN IA .
High Grade Pyrites free from Arsenic.
JOHN
H.
C L IS B Y
&
CO .,
o n
Orders fo r a
COMMISSION
EXECUTE ORDERS FOR FUTURE DELIVERY
NEW YORK.
C O T T ON
C O T T O N , G R A IN ,
P R O V IS IO N S , C O F F E E ,
at the NEW YORK. LIVERPOOL AND NEW OR
LEANS COTTON EXCHANGES. Also orders for
Cl O F F E E
S T O C K S , P E T R O L E U M , at the NEW YORK COFFEE EXCHANGE, and
G R A I N A N D P R O V IS IO N S
ORDERS EXECUTED IN
NEW YORK, CHICAGO, NEW OR
LEANS, ST. LOUIS, LIVERPOOL,
HAYRE, &c.
at the NEW YORK PRODUCE EXCHANGE and
the CHICAGO BOARD OF TRADE.
Correspondents ,
Messrs. Smith, Edwards & Co., Cotton Brokers,
Liverpool.
Jas. Lea McLean, New Orleans.
Lehman , stern & Co.,
New Orleans, La.
Hubbard, Price & C o .,
.Lehman, Durr & Co.,
Montgomery, Ala.
L E H M A N B R O S.,
C otton
117 P e a r l St., N e w Y o r k ,
AND
F actors
Price, Reid & C o .,
AND
NORFOLK
COMMISSION M E R C H A N T S ,
SECURE BAN K VAULTS.
Cotton Brokers & Commission Merchants
MEMBERS OF THE OOITQN, COFFEE AND
PRODUCE EXCHANGES.
Liberal advances made on Cotton consignments.
Special attention given to the sale o f cotton to ar
rive or In transit for both foreign and domestic mar
kets. Orders for Future Contracts exeouted in New
York and Liverpool.
Up -town office. No. 304 Church Street,
N ew F o rk .
Orders executed at the Cotton Exchanges In New
York and Liverpool, and advances made on Cotton
and other produce consigned to ns, or to our corres
pondents in Liverpool: Messrs. L. Rosenheim A
Sons and A. Stern A Co.; in London, Messrs. B.
Newgass & Co.
Edward H . Coates & C o .,
Cotton Commission Merchants,
NO. 116 CHESTNUT STREET,
P H IL A D E L P H IA .
G.
Schroeder
&
C o.,
NO. 42 MAIN STREET,
N ORFOLK, YA.
Successors to WARE A SCHROEDER,
SPINNERS ORDERS SOLICITED.
C O M M ISSIO N M E R C H A N T S ,
Gotten Exchange Building,
Geo. H . M cF adden& Bro.
NEW
COTTON
YORK.
Orders for future delivery o f Cotton executed In
New York and Liverpool; also for Grain and Pro
visions in New York and Chicago.
Liverpool Correspondents ,
F R E D E R IC ZE R E G A
B. F. B A B C O C K & C O .
Street, L IV E R P O O L ,
Receive consignments of Cotton and other Produce,
and execute orders at the Exchanges in Liverpool.
Represented in New York at the offloe of
SAM’L D. BABCOCK
88 Nassau Street, New York.
COMMISSION MERCHANTS,
COTTON E X C H A N G E B U IL D IN G ,
N ew Y o r k .
C H R O M E STEEL. W O R K S ,
B R O O K L Y N , N. Y .
Cir c u l a r s F r e e .
John L. Bu lla rd .
COMMISSION MERCHANTS,
OO TTO N E X C H A N G E , N E W Y O R K , and
NORFOLK , VA.
Cotton, Coffee, G rata, P rovision s,
s t o c k , ana Petroleum .
Orders executed In New York, Chicago and Liv
erpool. All grades of cotton suitable to spinners’
wants offered on favorable terms.
GENERAL TRANSATLANTIC CO.
B etw een N E W Y O R K an d H A Y R E
From Pier (new) 48, North River, foot
Morton St.
LA BOURGOGNE. Frangeul....Sat.. Fdb. 25.4 A.M.
LA CHAMPAGNE, Traub....8at.. March 3,10 A.M.
LA NORMANDIE, de Kersablec, Sat., Mar.10,4 A.M.
Travelers by this line avoid both transit by English
railway and the discomforts o f crossing the Channe
In a small boat.
P r i c e o f P a s s a g e (including wine):—To HavreFirst cabin, $100 and $80; second oabin, 860; steer
age, 838—including wine, bedding and utensils. Re
turn tickets at much reduced rates. Checks onBanque
Transatlantique, Havre and Paris,in amount to suit.
P arle
The Compagnie Generale Transatlantique delivers
at its offloe in New Vork special train tfokets from
Havre to Paris. Baggage ohecked through to Paris
without examination at Havre, provided passengers
have the same delivered at the Company’s dook in
New York, Pier 42 North River, foot o f Morton St.
at least two horns before the departure of a.steamer
LO U IS D E B E R I A N , A gen t,
N o. 3 B o w lin g Green.
Gwathmey & Bloss,
COMMISSION
Bullard & Wheeler,
MERCHANTS,
No. 123 PEARL 8T„ NEW YORK.
Orders for future delivery of Cotton exeouted in
New York and Liverpool; also for Grain and Pro
visions in New York and Chicago.
COTTON COMMISSION MERCHANTS
NEW YORK.
ALSO
AN D
Mohr, Hanemann& C o .,
IR O N
T IE S ,
(FOR BALING COTTON).
Advances made on Cotton Consignments and Special
Attention given to purchase and sale of FUTURE
CONTRACTS OF COTTON.
Direct Line to France,
Special T r a in fro m H a v r e to
H e n r y H. W heeler .
Sc GO.
Rountree & C o .,
Special attention to orders for contracts for future
delivery o f ootton.
B A G G IN G
O N L Y
MERCHANTS,
P H I L A D E L P H IA .
Geo. W . Baily & C o.,
in Round and Flat Bars, and 5-ply Plates and Angle
FOR SAFES, VAULTS, & C .
Cannot he Sawed, Cut or Drilled, and positively
Burglar-Proof.
VA.
No. 40 EXCHANGE PLACE,
17 W a te r
Co m m is s io n .
MERCHANTS,
8 South W illia m St., N ew Y o r k .
COMMISSION MERCHANTS,
COTTON BUYERS,
M ONTGOM ERY, ALA .
P u r c h a s e On l y
STREET,
BAGGING.
W A R R E N , JO N E S &
GRATZ,
COTTON
EXCHANGE
B U IL D IN G ,
New York,
Special attention Given to the E xecution
OF ORDERS FOR FUTURE CONTRACTS.
ST . LO U IS, M o .
M a n u fa ctu rers o f P a r e Jute!! B a g g in g .
IMPORTERS OF
IR O N
COTTON
T IE S .
Robert Tannahill & C o .,
Cotton Commission Merchants,
Dennis Perkins & C o.,
COTTON BROKERS,
125 P earl Street, N ew Y o r k .
C otton E x ch an ge B u ild in g , N e w Y o r k ,
Orders for Spot Cotton .and Futures promptly
exeouted.
Special attention given to the purchase and sale of
FUTURE CONTRACTS
In New Vork and Liverpool.
........
............
Geo. Copeland & C o., W
alter
&
Fatman,
COTTON BROKERS,
COTTON B R O K E R S ,
184 P E A R L S T R E E T , N E W Y O R K .
63 B E A V E R S T R E E T , NE W Y O R K .
THE CHRONICLE.
X
© 0 tt0 tL
C ir tttftt*
PostBuilding, 16& 18ExchangePlace, IN M A N , S W A N N & Co
YORK.
LOANS MADE ON ACCEPTABLE SECURITIES.
Sp e c ia l a t t e n t io n t o o r d e r s t o r
to r
Future
COTTON merchants,
Co n tr a c ts
New York.
D e l iv e r y o t Co tto n .
COTTON. AT.T. GRADES, SUITABLE TO WANTS
OF SPINNERS.
Otte r e d o n T e rm s to
H e n ry P . H atch.
A rth u r H . H atch.
W . T . Hatch & Sons,
MERCHANTS,
NEW
% $ L i$ t z X X & u z o u $ .
W alter T . H atch.
N a th 'l W. T . H atch.
Woodward & Stillman,
25, 1888.
[F e b r u a r y
BANKERS,
14 NASSAU STREET, NEW YORK.
Axrmr rmrnwa 5 I P C hurch S tr e e t, N .Y .
BRANCH OFFICES |s jJ8 c h a p el S t., N ew H a ven
Personal attention given at the EXCHANGES to
the purchase and sale of STOCKS and BONDS for
cash or on margin.
DEPOSITS RECEIVED—subjeot to check at sight
—with interest upon balances.
Special attention paid to INVESTMENTS an >
accounts of COUNTRY BANKERS.
The Safe
Su it .
Deposit Co.
OF N E W Y O R K
TW EN TY-EIG H TH A N N U A L
STATEMENT
OF THE
W
A S H IH S T G -T O Z S T
LIFE INSURANCE CO.
W . A . B R E W E R , Jr., President.
ASSETS.
Net Assets, December 31,1880............ $7,813,631 36
U. 8. and N.Y. City Stocks $659,703 42
Receipts during the year 1887:
Bonds and Mortgages
being first liens on real
For Premiums.............. $1,054,211 21
estate............................. 6,791,998 67
For Interest, Rents, Ac. 420,820 28— 2,075,031 49
Real Estate...................... 668,131 96
$9,888,662 85 Cash on hand and in
Banks and Trust Co...... 106,204 04
DISBURSEMENTS!
Loans on Collaterals......
200,418 43
Claims by Death.............. $510,594 54
Agents’ Balances............
60,903 87— $8,387,360 89
Matured and Discounted
Add excess of market va
lue o f Stocks over cost.
167.546 58
Endowments................. 163,307 20
Interest accrued..............
70,3i>7 97
Cash Dividends, Return
Interest due and unpaid..
5,764 28
Premiums, and Surren
Deferred and Unpaid
dered Policies............... 409,937 89
Prem’s, less 20 per cent.
237,313 48
Annuities..........................
4,760 85
Gross Assets, Dec. 31,
$8,868,382 70
1887.................................
Total paid Policy-holders.$l,088,600 48
Taxes................................
Commuted Commissions.
Profit and Loss................
Dividends to Stockhold
ers...................................
Expenses : Rent, Commis
sions, Salaries, Postage,
Advertising, M e d ic a l
Examinations, Ac..........
17,581 82
75,470 33
4,371 77
LIAB ILITIES.
O F F E R S U N E Q 1J4LE D S E C U R IT Y .
THE OFFICES HAVE BEEN NEWLY
FURNISHED WITH EVERY IMPROVEMENT.
HAVE ADDED LARGE AND IMPROVED SAFES
SUITABLE FOR BANKERS AND BROKERS.
^ 140, 142 & 146 BROADWAY
FRANCIS M. JENCKS.
President'
George H. V ose, Secretary.
Bethlehem Iron Com p’y
40 and 42 Wall Street,
M a n h atta n B u ild in g ,
N ew Y o rk *
%usuxm xtz.
(INCORPORATED 1835.)
Delaware Mutual
Safety Insurance C o.
Reserve by N. Y. s’ an <3ard (same as Mass.),
Dep’t value....................$8,273,960 00
OF PHILADEPHIA.
Claims in course of Adjust
ment...............................
18,560 00
8,547 00
F I R E A N D M A R IN E .
Matured Endowments not
yet called for.................
1,454 70
CAPITAL STOCK........................, ........ $360,000 00
Outstanding Scrip................................... 716,960 00
Premiums paid in ad
Reserve to reinsure Outstanding Risks
vance...............
7,504 84
and all other Liabilities....................... 262,643 20
3,125 65
306,731 06— 1,501,302 46 Unpaid Expenses, Ac......
Surplus over Capital and Scrip............... 379,606 09
Surplus as regards Policy_
Net Assets Dec. 31,1887..
$8,387,360 39
holders*.......................
663,777 5 1 - $8,868,382 70
TOTAL ASSETS.............................. $1,719,209 29
17,761
Total number of Policies in force.
Policies issued in 1887—3,685.
N
ew
Y o r k Office, 75 R eaver Street,
$39,506,527
Total amount insured....................
Amount o f Insurance in 1887—$8,298,275.
* Surplus by former New York Standard, $1,064,071 51.
Policies kept in force by dividends in 1887 that would bave been forfeited in any other
Company: No., 1,182; amount, $3,555,200.
Claims paid in 1887 under policies held by dividends, $12,114.
W . H A X T U N , V ice-P residen t a n d Secretary.
E . S. F R E N C H , Sup’ t o f A gen cies.
C Y R U S M U N N, A ss’ t Secretary.
I . C. P IE R S O N , A ctu ary.
B . \V, M c C R E A D Y , 91. D ., M edical E x a m in e r .
J . W . B R A N N A N , M . D ., Associate M edical E x a m in er.
F O S T E R 6c TH O M SO N , 52 W a l l Street, N ew Y o r k , A ttorn eys.
BOARD OF DIRECTORS:
W. A. BREWER, J r .,
WM. HAXTUN,
ROLAND G. MITCHELL,
GEORGE N. LAWRENCE,
LEVI P. MORTON,
A B IE L A. LOW,
GUSTAV SCHWAB,
MERRITT TRIMBLE,
GEORGE A. ROBBINS,
THE
THOMAS HOPE,
JAMES THOMSON,
WILSON G. HUNT,
CHAS. H. LUDINGTON,
ROBERT BOWNE,
PAYNE PETTEBONE,
FRANCIS SPEIR.
FREDERIC R. COUDERT,
GEORGE NEWBOLD,
BENJAMIN HAXTUN,
EDWIN H. MEAD,
HENRY F. HITCH,
CHARLES P. BRITTON,
FRANCIS G. ADAMS,
BENJ. W. MO(¿READY, M.D,
DAVID THOMSON,
J . R A Y M O N D S M IT H , A gen t.
M A R IN E AND INLAND INSURANCE.
COMMERCIAL M UTUAL
IN SU R A N C E C O M P A N Y ,
NO. 42 WALL STREET, NEW YORK.
ASSE TS.
United States Securities............................$173,900
Bank Stocks.............................................. 114,225
Stocks. Bonds, Loans and Cash In Banks 324,903
Premium Notes, Cash Premiums, &o.... 62,338
Total Assets Dec. 31, 1887................... $675,367 26
W. IRVING COMES, President.
H e n r y D.K ing , Sec. W a in w r ig h t H a r d ie ,V.-P. •
This Company issues Certificates of Insurance,
under which losses are payable in LONDON, at the
counting house of Messrs. BROWN. SHIPLEY & Co
Phenix Insurance Co.
OF
NEW
C O M B IN A T IO N
P O L IC Y
00
00
51
75
BROOKLYN,
Office, 195 Broadway, New York City.
OF THE
CASH CAPITAL,................................... $1,000,000 00
Washington Life insurance Company
S T E P H E N C R O W E L L , P resident.
OF N E W Y O R K
guarantees to the holder of a $1,000 polioy $1,500 at maturity. A policy for $5,000 is a contract
for $7,500. A polioy for $10,000 is a contract for $15,000.
Say the amount of the polioy is $30,0l'0, the insured is guaranteed at maturity of endow
ment $30,000 cash, and a paid-up life polioy for $15,000, or a total of $45,000, together with
all accumulated and unused dividends.
The Combination Polioy has three functions; b y it the insured secures under a single
contract
I . P rotection for a term o f y ears.
I I . T h e savin gs o f a n E n d ow m en t*
I I I . A p erm a n en t E state.
A strong, simple and inexpensive provision guaranteeing INSURANCE, a CAPITAL SUM
and an ESTATE.
The policies of the Washington are incontestable after three years; residence and travel
unrestricted after two years.
GEORGE P. SHELDON, Vioe-President.
GEORGE INGRAHAM, 2d Vice-President.
PHILANDER SHAW, Secretary.
CHARLES C. LITTLE Assist. Secretary.
JOHN H. DOUGHERTY, Assisi. Seo’y.
Commercial Union
A s s u r a n c e Co., l im it e d ,
OF LONDON
(Mae, Oor. Pine & XVilMam, Sts., M, 7«
@FedFRASER